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Federal Funds Rate History: 1979 to 1970

Home Home > Mortgage Research > Historical Rates & Indexes: Fed Funds: 1979-1970

Month

1979

1978

1977

1976

1975

January

10.07 6.70 4.61 4.87 7.13

February

10.06 6.78 6.85 4.77 6.24

March

10.09 6.79 4.69 4.84 5.54

April

10.01 6.89 4.73 4.82 5.49

May

10.24 7.36 5.35 5.29 5.22

June

10.29 7.60 5.39 5.48 5.55

July

10.47 7.81 5.42 5.31 6.10

August

10.94 8.04 5.90 5.29 6.14

September

11.43 8.45 6.14 5.25 6.24

October

13.77 8.96 6.47 5.02 5.82

November

13.18 9.76 6.51 4.95 5.22

December

13.78 10.03 6.56 4.65 5.20

Month

1974

1973

1972

1971

1970

January

9.65 5.94 3.50 4.14 8.89

February

8.97 6.58 3.29 3.72 8.98

March

9.35 7.09 3.83 3.71 7.76

April

10.51 7.12 4.17 4.15 8.10

May

11.31 7.84 4.27 4.63 7.94

June

11.93 8.49 4.46 4.91 7.60

July

12.92 10.40 4.55 5.31 7.21

August

12.01 10.50 4.80 5.56 6.61

September

11.34 10.78 4.87 5.55 6.29

October

10.06 10.01 5.04 5.20 6.20

November

9.45 10.03 5.06 4.91 5.60

December

8.53 9.95 5.33 4.14 4.90
 

Federal funds transactions can be initiated by either a funds lender or a funds borrower. An institution seeking to lend federal funds identifies a borrower directly, through an existing banking relationship, or indirectly, through a federal funds broker.

The most commonly used method to transfer funds between depository institutions is for the lending institution to authorize its district Federal Reserve Bank to debit its reserve account and to credit the reserve account of the borrowing institution. 

The most common type of federal funds transaction is a very short-run unsecured loan between two financial institutions; some transactions, however, have longer-term maturities. Most overnight loans are booked without a contract.

The borrowing and lending institutions exchange verbal agreements based on various considerations, particularly their experience in doing business together, and limit the size of transactions to established credit lines in order to minimize the lender's exposure to default risk. Such arrangements facilitate speedy processing at the lowest possible transaction cost. 

Federal Funds Rate History: For Historical Reference Only: Rates and explanations provided by the Federal Reserve System.  Accuracy of our information is not guaranteed. Some rates are rounded due mid-month changes or may contain typographical errors.  If you find a typographical error in the rate table let us know.