Catalog / Rates, Plumbing & Crypto / Data feed
Rates, Plumbing & Crypto · daily ban:none tA

SOFR vs IORB vs EFFR spread

Daily spread between Secured Overnight Financing Rate, Interest on Reserve Balances, and Effective Fed Funds Rate

Feed detail
Measures
Daily spread between Secured Overnight Financing Rate, Interest on Reserve Balances, and Effective Fed Funds Rate
Source
newyorkfed.org/markets/reference-rates (SOFR), federalreserve.gov (IORB), FRED (EFFR, SOFR)
Access
csv
Cadence
dailyupdates once a day
Thesis
Widening SOFR-IORB spread is the classic 'reserves are getting scarce' early warning used before 2019 repo blowup and Sept 2019-style events
Maps to
repo stress, front-end rate vol, bank reserve adequacy
Crowdedness
contested
Tier
tA
Ban-risk
ban:none
Where this stands

This is a catalogued data feed with a research idea attached, not a validated edge. Being listed here means it has a specific source and a one-sentence causal mechanism mapped to what it should move — it doesn’t mean it has cleared the five-stage validation gate (point-in-time hygiene, out-of-sample holdout, multiple-testing correction, and the portfolio-layer backstop). As of today, every score on this site is prior-only; zero signals in the catalog have been promoted to “measured” status. See the methodology page for the full validation process and current counts.

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