NOTE: THIS DATA FILE WILL CHANGE! To improve accessibility of data for all users, we will convert this file from a text format to an html table by the end of June 2024. Title: 3-Month Treasury Constant Maturity Minus Federal Funds Rate Series ID: T3MFFM Source: Federal Reserve Bank of St. Louis Release: Interest Rate Spreads (Not a Press Release) Seasonal Adjustment: Not Seasonally Adjusted Frequency: Monthly Units: Percent Date Range: 1982-01-01 to 2024-04-01 Last Updated: 2024-05-01 4:01 PM CDT Notes: Series is calculated as the spread between 3-Month Treasury Constant Maturity (BC_3MONTHM) and Effective Federal Funds Rate (https://fred.stlouisfed.org/series/EFFR). Starting with the update on June 21, 2019, the Treasury bond data used in calculating interest rate spreads is obtained directly from the U.S. Treasury Department (https://www.treasury.gov/resource-center/data-chart-center/interest-rates/Pages/TextView.aspx?data=yield). DATE VALUE 1982-01-01 -0.30 1982-02-01 -0.50 1982-03-01 -1.37 1982-04-01 -1.60 1982-05-01 -1.74 1982-06-01 -1.07 1982-07-01 -0.73 1982-08-01 -1.12 1982-09-01 -2.12 1982-10-01 -1.74 1982-11-01 -0.85 1982-12-01 -0.75 1983-01-01 -0.56 1983-02-01 -0.12 1983-03-01 -0.11 1983-04-01 -0.29 1983-05-01 -0.13 1983-06-01 0.16 1983-07-01 0.08 1983-08-01 0.18 1983-09-01 -0.09 1983-10-01 -0.49 1983-11-01 -0.23 1983-12-01 -0.11 1984-01-01 -0.30 1984-02-01 -0.13 1984-03-01 -0.02 1984-04-01 -0.22 1984-05-01 -0.10 1984-06-01 -0.80 1984-07-01 -0.70 1984-08-01 -0.74 1984-09-01 -0.50 1984-10-01 0.13 1984-11-01 -0.51 1984-12-01 -0.04 1985-01-01 -0.33 1985-02-01 0.06 1985-03-01 0.25 1985-04-01 -0.05 1985-05-01 -0.24 1985-06-01 -0.35 1985-07-01 -0.56 1985-08-01 -0.53 1985-09-01 -0.59 1985-10-01 -0.59 1985-11-01 -0.57 1985-12-01 -0.94 1986-01-01 -0.84 1986-02-01 -0.57 1986-03-01 -0.72 1986-04-01 -0.75 1986-05-01 -0.52 1986-06-01 -0.52 1986-07-01 -0.56 1986-08-01 -0.48 1986-09-01 -0.54 1986-10-01 -0.53 1986-11-01 -0.54 1986-12-01 -1.23 1987-01-01 -0.85 1987-02-01 -0.35 1987-03-01 -0.36 1987-04-01 -0.55 1987-05-01 -1.00 1987-06-01 -0.88 1987-07-01 -0.70 1987-08-01 -0.50 1987-09-01 -0.60 1987-10-01 -0.94 1987-11-01 -0.80 1987-12-01 -0.81 1988-01-01 -0.83 1988-02-01 -0.74 1988-03-01 -0.71 1988-04-01 -0.79 1988-05-01 -0.64 1988-06-01 -0.85 1988-07-01 -0.80 1988-08-01 -0.71 1988-09-01 -0.71 1988-10-01 -0.70 1988-11-01 -0.32 1988-12-01 -0.41 1989-01-01 -0.56 1989-02-01 -0.52 1989-03-01 -0.71 1989-04-01 -0.88 1989-05-01 -1.07 1989-06-01 -1.10 1989-07-01 -1.09 1989-08-01 -0.82 1989-09-01 -1.01 1989-10-01 -0.94 1989-11-01 -0.61 1989-12-01 -0.57 1990-01-01 -0.33 1990-02-01 -0.24 1990-03-01 -0.11 1990-04-01 -0.22 1990-05-01 -0.17 1990-06-01 -0.30 1990-07-01 -0.28 1990-08-01 -0.44 1990-09-01 -0.60 1990-10-01 -0.71 1990-11-01 -0.52 1990-12-01 -0.36 1991-01-01 -0.50 1991-02-01 -0.13 1991-03-01 -0.03 1991-04-01 -0.08 1991-05-01 -0.15 1991-06-01 -0.15 1991-07-01 -0.07 1991-08-01 -0.16 1991-09-01 -0.08 1991-10-01 -0.07 1991-11-01 -0.12 1991-12-01 -0.25 1992-01-01 -0.12 1992-02-01 -0.11 1992-03-01 0.16 1992-04-01 0.11 1992-05-01 -0.10 1992-06-01 -0.01 1992-07-01 0.03 1992-08-01 -0.10 1992-09-01 -0.25 1992-10-01 -0.17 1992-11-01 0.12 1992-12-01 0.37 1993-01-01 0.05 1993-02-01 -0.04 1993-03-01 -0.06 1993-04-01 -0.03 1993-05-01 0.03 1993-06-01 0.10 1993-07-01 0.05 1993-08-01 0.06 1993-09-01 -0.08 1993-10-01 0.10 1993-11-01 0.16 1993-12-01 0.17 1994-01-01 -0.01 1994-02-01 0.08 1994-03-01 0.25 1994-04-01 0.22 1994-05-01 0.26 1994-06-01 0.00 1994-07-01 0.20 1994-08-01 0.14 1994-09-01 0.02 1994-10-01 0.34 1994-11-01 0.16 1994-12-01 0.31 1995-01-01 0.37 1995-02-01 0.02 1995-03-01 -0.07 1995-04-01 -0.21 1995-05-01 -0.16 1995-06-01 -0.36 1995-07-01 -0.26 1995-08-01 -0.17 1995-09-01 -0.37 1995-10-01 -0.32 1995-11-01 -0.28 1995-12-01 -0.31 1996-01-01 -0.41 1996-02-01 -0.26 1996-03-01 -0.21 1996-04-01 -0.13 1996-05-01 -0.09 1996-06-01 -0.04 1996-07-01 -0.10 1996-08-01 -0.03 1996-09-01 -0.06 1996-10-01 -0.12 1996-11-01 -0.14 1996-12-01 -0.25 1997-01-01 -0.08 1997-02-01 -0.05 1997-03-01 -0.11 1997-04-01 -0.21 1997-05-01 -0.30 1997-06-01 -0.49 1997-07-01 -0.33 1997-08-01 -0.26 1997-09-01 -0.46 1997-10-01 -0.39 1997-11-01 -0.24 1997-12-01 -0.20 1998-01-01 -0.38 1998-02-01 -0.28 1998-03-01 -0.33 1998-04-01 -0.37 1998-05-01 -0.35 1998-06-01 -0.44 1998-07-01 -0.45 1998-08-01 -0.51 1998-09-01 -0.77 1998-10-01 -1.00 1998-11-01 -0.30 1998-12-01 -0.18 1999-01-01 -0.18 1999-02-01 -0.20 1999-03-01 -0.24 1999-04-01 -0.33 1999-05-01 -0.11 1999-06-01 -0.04 1999-07-01 -0.30 1999-08-01 -0.20 1999-09-01 -0.40 1999-10-01 -0.18 1999-11-01 -0.19 1999-12-01 0.06 2000-01-01 0.05 2000-02-01 0.00 2000-03-01 0.01 2000-04-01 -0.20 2000-05-01 -0.28 2000-06-01 -0.67 2000-07-01 -0.40 2000-08-01 -0.22 2000-09-01 -0.34 2000-10-01 -0.22 2000-11-01 -0.15 2000-12-01 -0.46 2001-01-01 -0.69 2001-02-01 -0.48 2001-03-01 -0.77 2001-04-01 -0.83 2001-05-01 -0.51 2001-06-01 -0.40 2001-07-01 -0.18 2001-08-01 -0.21 2001-09-01 -0.38 2001-10-01 -0.29 2001-11-01 -0.18 2001-12-01 -0.10 2002-01-01 -0.05 2002-02-01 0.02 2002-03-01 0.10 2002-04-01 0.00 2002-05-01 0.01 2002-06-01 -0.02 2002-07-01 -0.02 2002-08-01 -0.09 2002-09-01 -0.09 2002-10-01 -0.14 2002-11-01 -0.09 2002-12-01 -0.03 2003-01-01 -0.05 2003-02-01 -0.07 2003-03-01 -0.10 2003-04-01 -0.11 2003-05-01 -0.17 2003-06-01 -0.28 2003-07-01 -0.09 2003-08-01 -0.06 2003-09-01 -0.05 2003-10-01 -0.07 2003-11-01 -0.05 2003-12-01 -0.07 2004-01-01 -0.10 2004-02-01 -0.07 2004-03-01 -0.05 2004-04-01 -0.04 2004-05-01 0.04 2004-06-01 0.26 2004-07-01 0.10 2004-08-01 0.07 2004-09-01 0.07 2004-10-01 0.03 2004-11-01 0.18 2004-12-01 0.06 2005-01-01 0.09 2005-02-01 0.08 2005-03-01 0.17 2005-04-01 0.05 2005-05-01 -0.10 2005-06-01 0.00 2005-07-01 0.03 2005-08-01 0.02 2005-09-01 -0.13 2005-10-01 0.01 2005-11-01 -0.03 2005-12-01 -0.19 2006-01-01 0.05 2006-02-01 0.05 2006-03-01 0.04 2006-04-01 -0.07 2006-05-01 -0.10 2006-06-01 -0.07 2006-07-01 -0.16 2006-08-01 -0.16 2006-09-01 -0.32 2006-10-01 -0.20 2006-11-01 -0.18 2006-12-01 -0.27 2007-01-01 -0.14 2007-02-01 -0.10 2007-03-01 -0.18 2007-04-01 -0.24 2007-05-01 -0.38 2007-06-01 -0.51 2007-07-01 -0.30 2007-08-01 -0.70 2007-09-01 -0.95 2007-10-01 -0.76 2007-11-01 -1.14 2007-12-01 -1.17 2008-01-01 -1.12 2008-02-01 -0.81 2008-03-01 -1.33 2008-04-01 -0.97 2008-05-01 -0.22 2008-06-01 -0.11 2008-07-01 -0.35 2008-08-01 -0.25 2008-09-01 -0.66 2008-10-01 -0.28 2008-11-01 -0.20 2008-12-01 -0.13 2009-01-01 -0.02 2009-02-01 0.08 2009-03-01 0.04 2009-04-01 0.01 2009-05-01 0.00 2009-06-01 -0.03 2009-07-01 0.02 2009-08-01 0.01 2009-09-01 -0.03 2009-10-01 -0.05 2009-11-01 -0.07 2009-12-01 -0.07 2010-01-01 -0.05 2010-02-01 -0.02 2010-03-01 -0.01 2010-04-01 -0.04 2010-05-01 -0.04 2010-06-01 -0.06 2010-07-01 -0.02 2010-08-01 -0.03 2010-09-01 -0.04 2010-10-01 -0.06 2010-11-01 -0.05 2010-12-01 -0.04 2011-01-01 -0.02 2011-02-01 -0.03 2011-03-01 -0.04 2011-04-01 -0.04 2011-05-01 -0.05 2011-06-01 -0.05 2011-07-01 -0.03 2011-08-01 -0.08 2011-09-01 -0.07 2011-10-01 -0.05 2011-11-01 -0.07 2011-12-01 -0.06 2012-01-01 -0.05 2012-02-01 -0.01 2012-03-01 -0.05 2012-04-01 -0.06 2012-05-01 -0.07 2012-06-01 -0.07 2012-07-01 -0.06 2012-08-01 -0.03 2012-09-01 -0.03 2012-10-01 -0.06 2012-11-01 -0.07 2012-12-01 -0.09 2013-01-01 -0.07 2013-02-01 -0.05 2013-03-01 -0.05 2013-04-01 -0.09 2013-05-01 -0.07 2013-06-01 -0.04 2013-07-01 -0.05 2013-08-01 -0.04 2013-09-01 -0.06 2013-10-01 -0.04 2013-11-01 -0.01 2013-12-01 -0.02 2014-01-01 -0.03 2014-02-01 -0.02 2014-03-01 -0.03 2014-04-01 -0.06 2014-05-01 -0.06 2014-06-01 -0.06 2014-07-01 -0.06 2014-08-01 -0.06 2014-09-01 -0.07 2014-10-01 -0.07 2014-11-01 -0.07 2014-12-01 -0.09 2015-01-01 -0.08 2015-02-01 -0.09 2015-03-01 -0.08 2015-04-01 -0.10 2015-05-01 -0.10 2015-06-01 -0.11 2015-07-01 -0.10 2015-08-01 -0.07 2015-09-01 -0.12 2015-10-01 -0.10 2015-11-01 0.01 2015-12-01 -0.01 2016-01-01 -0.08 2016-02-01 -0.07 2016-03-01 -0.06 2016-04-01 -0.14 2016-05-01 -0.09 2016-06-01 -0.11 2016-07-01 -0.09 2016-08-01 -0.10 2016-09-01 -0.11 2016-10-01 -0.07 2016-11-01 0.04 2016-12-01 -0.03 2017-01-01 -0.13 2017-02-01 -0.13 2017-03-01 -0.04 2017-04-01 -0.09 2017-05-01 -0.01 2017-06-01 -0.04 2017-07-01 -0.06 2017-08-01 -0.13 2017-09-01 -0.10 2017-10-01 -0.06 2017-11-01 0.09 2017-12-01 0.04 2018-01-01 0.02 2018-02-01 0.17 2018-03-01 0.22 2018-04-01 0.10 2018-05-01 0.20 2018-06-01 0.12 2018-07-01 0.08 2018-08-01 0.16 2018-09-01 0.22 2018-10-01 0.10 2018-11-01 0.17 2018-12-01 0.14 2019-01-01 0.02 2019-02-01 0.04 2019-03-01 0.05 2019-04-01 0.01 2019-05-01 0.01 2019-06-01 -0.16 2019-07-01 -0.26 2019-08-01 -0.13 2019-09-01 -0.12 2019-10-01 -0.15 2019-11-01 0.02 2019-12-01 0.02 2020-01-01 0.00 2020-02-01 -0.04 2020-03-01 -0.33 2020-04-01 0.09 2020-05-01 0.08 2020-06-01 0.08 2020-07-01 0.04 2020-08-01 0.01 2020-09-01 0.02 2020-10-01 0.01 2020-11-01 0.00 2020-12-01 0.00 2021-01-01 -0.01 2021-02-01 -0.04 2021-03-01 -0.04 2021-04-01 -0.05 2021-05-01 -0.04 2021-06-01 -0.04 2021-07-01 -0.05 2021-08-01 -0.04 2021-09-01 -0.04 2021-10-01 -0.03 2021-11-01 -0.03 2021-12-01 -0.02 2022-01-01 0.07 2022-02-01 0.23 2022-03-01 0.25 2022-04-01 0.43 2022-05-01 0.23 2022-06-01 0.35 2022-07-01 0.65 2022-08-01 0.39 2022-09-01 0.64 2022-10-01 0.79 2022-11-01 0.57 2022-12-01 0.27 2023-01-01 0.36 2023-02-01 0.22 2023-03-01 0.21 2023-04-01 0.24 2023-05-01 0.26 2023-06-01 0.34 2023-07-01 0.37 2023-08-01 0.23 2023-09-01 0.23 2023-10-01 0.27 2023-11-01 0.19 2023-12-01 0.11 2024-01-01 0.12 2024-02-01 0.11 2024-03-01 0.14 2024-04-01 0.11