Is short-term dollar funding tightening?
Dollar funding pressure · SOFR−IORB · Daily
History: 193 observations · Local history available
Same-day SOFR less IORB in basis points. A rising spread means repo funding is more expensive relative to reserve interest. A quarter-end spike alone does not prove persistent scarcity. This is one P indicator, not the entire financial-conditions assessment.
New observations from reports
Unverified report excerpts. This separate curve does not replace or extend the main chart above. See the main chart’s source label for its verification status.
Read observation dates and evidence
View data table (last 24 observations)
| Period | Value (bp) | Type |
|---|---|---|
| 2026-10-08 | -3 | Calculated value |
| 2026-10-07 | -2 | Calculated value |
| 2026-10-06 | 0 | Calculated value |
| 2026-10-05 | -1 | Calculated value |
| 2026-10-02 | -2 | Calculated value |
| 2026-10-01 | -3 | Calculated value |
| 2026-09-30 | 0 | Calculated value |
| 2026-09-29 | -2 | Calculated value |
| 2026-09-28 | 0 | Calculated value |
| 2026-09-25 | 0 | Calculated value |
| 2026-09-24 | -2 | Calculated value |
| 2026-09-23 | -3 | Calculated value |
| 2026-09-22 | -3 | Calculated value |
| 2026-09-21 | -5 | Calculated value |
| 2026-09-18 | -5 | Calculated value |
| 2026-09-17 | -5 | Calculated value |
| 2026-09-16 | -3 | Calculated value |
| 2026-09-15 | -1 | Calculated value |
| 2026-09-14 | -3 | Calculated value |
| 2026-09-11 | -3 | Calculated value |
| 2026-09-10 | -3 | Calculated value |
| 2026-09-09 | -1 | Calculated value |
| 2026-09-08 | -1 | Calculated value |
| 2026-09-04 | 0 | Calculated value |
View sources and verification dates
Report and verification dates are labeled separately. Original release timestamps are shown when explicitly provided by the source. Quotations retain their source language.
- 2026-10-08 · Verified on 2026-10-10 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.87% − IORB 3.9%) × 100 = -3 bp · Matched effective dates; no forward filling.
- 2026-10-07 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.88% − IORB 3.9%) × 100 = -2 bp · Matched effective dates; no forward filling.
- 2026-10-06 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.9% − IORB 3.9%) × 100 = 0 bp · Matched effective dates; no forward filling.
- 2026-10-05 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.89% − IORB 3.9%) × 100 = -1 bp · Matched effective dates; no forward filling.
- 2026-10-02 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.88% − IORB 3.9%) × 100 = -2 bp · Matched effective dates; no forward filling.
- 2026-10-01 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.87% − IORB 3.9%) × 100 = -3 bp · Matched effective dates; no forward filling.
- 2026-09-30 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.9% − IORB 3.9%) × 100 = 0 bp · Matched effective dates; no forward filling.
- 2026-09-29 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.88% − IORB 3.9%) × 100 = -2 bp · Matched effective dates; no forward filling.
- 2026-09-28 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.9% − IORB 3.9%) × 100 = 0 bp · Matched effective dates; no forward filling.
- 2026-09-25 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.9% − IORB 3.9%) × 100 = 0 bp · Matched effective dates; no forward filling.
- 2026-09-24 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.88% − IORB 3.9%) × 100 = -2 bp · Matched effective dates; no forward filling.
- 2026-09-23 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.87% − IORB 3.9%) × 100 = -3 bp · Matched effective dates; no forward filling.
- 2026-09-22 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.87% − IORB 3.9%) × 100 = -3 bp · Matched effective dates; no forward filling.
- 2026-09-21 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.85% − IORB 3.9%) × 100 = -5 bp · Matched effective dates; no forward filling.
- 2026-09-18 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.85% − IORB 3.9%) × 100 = -5 bp · Matched effective dates; no forward filling.
- 2026-09-17 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.85% − IORB 3.9%) × 100 = -5 bp · Matched effective dates; no forward filling.
- 2026-09-16 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.62% − IORB 3.65%) × 100 = -3 bp · Matched effective dates; no forward filling.
- 2026-09-15 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.64% − IORB 3.65%) × 100 = -1 bp · Matched effective dates; no forward filling.
- 2026-09-14 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.62% − IORB 3.65%) × 100 = -3 bp · Matched effective dates; no forward filling.
- 2026-09-11 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.62% − IORB 3.65%) × 100 = -3 bp · Matched effective dates; no forward filling.
- 2026-09-10 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.62% − IORB 3.65%) × 100 = -3 bp · Matched effective dates; no forward filling.
- 2026-09-09 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.64% − IORB 3.65%) × 100 = -1 bp · Matched effective dates; no forward filling.
- 2026-09-08 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.64% − IORB 3.65%) × 100 = -1 bp · Matched effective dates; no forward filling.
- 2026-09-04 · Verified on 2026-10-09 · New York Fed / Federal Reserve · matched-date spreadCalculation evidence (bp)
(SOFR 3.65% − IORB 3.65%) × 100 = 0 bp · Matched effective dates; no forward filling.