Effective Federal Funds Volume
EFFRVOL • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
115.00
Year-over-Year Change
4.55%
Date Range
10/6/2021 - 8/5/2025
Summary
The Effective Federal Funds Volume (EFFRVOL) tracks the total dollar volume of transactions in the federal funds market. This metric provides critical insight into interbank lending activity and short-term liquidity in the U.S. financial system.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This economic indicator represents the aggregate value of overnight lending between financial institutions through the federal funds market. Economists analyze the volume to understand banking system dynamics, monetary policy transmission, and short-term credit market conditions.
Methodology
The data is collected and aggregated by the Federal Reserve from daily reports submitted by participating financial institutions.
Historical Context
Policymakers and financial analysts use this trend to assess banking system health, liquidity conditions, and potential monetary policy implications.
Key Facts
- Represents total dollar volume of overnight interbank lending
- Provides real-time insight into banking system liquidity
- Directly influenced by Federal Reserve monetary policy decisions
FAQs
Q: What does the Effective Federal Funds Volume measure?
A: It measures the total dollar amount of overnight lending between banks in the federal funds market, indicating short-term liquidity and credit flow.
Q: Why is this metric important for economists?
A: It helps economists understand banking system dynamics, credit market conditions, and the effectiveness of monetary policy transmission.
Q: How is the EFFRVOL data collected?
A: Financial institutions report their daily federal funds transactions to the Federal Reserve, which then aggregates and publishes the total volume.
Q: How does this trend relate to monetary policy?
A: The volume reflects banks' lending behaviors and can indicate the impact of Federal Reserve interest rate and reserve requirement policies.
Q: How frequently is this data updated?
A: The Effective Federal Funds Volume is typically updated daily, providing near real-time insights into banking system liquidity.
Related Trends
Federal Funds Target Range - Upper Limit
DFEDTARU
Federal Funds Target Range - Lower Limit
DFEDTARL
Overnight Bank Funding Rate: 99th Percentile
OBFR99
Effective Federal Funds Rate: 1st Percentile
EFFR1
Effective Federal Funds Rate
EFFR
FOMC Summary of Economic Projections for the Fed Funds Rate, Central Tendency, Low
FEDTARCTL
Citation
U.S. Federal Reserve, Effective Federal Funds Volume [EFFRVOL], retrieved from FRED.
Last Checked: 8/1/2025