Data / 3-month Treasury bill rate / United States

3-month Treasury bill rate in United States

3-month Treasury bill rate in the United States was 3.94% in September 2026, according to the Board of Governors of the Federal Reserve System. That is up 0.02 pts from September 2025.

September 20263.94%
Change on September 2025+0.02 pts
Series high16.3May 1981
Series low0.01September 2011
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3-month Treasury bill rate in United States, October 1976 to September 2026

051015201976-101983-121991-021998-042005-062012-082019-102026-092026-09: 3.94 %051015201976-101993-062010-022026-092026-09: 3.94 %
%. Source: Federal Reserve Board, H.15 Selected Interest Rates: 3-month Treasury bill secondary market rate, discount basis, monthly average (RIFSGFSM03_N.M). Retrieved 2026-10-12.
All 600 values
Period%
2026-093.94
2026-083.72
2026-073.73
2026-063.66
2026-053.6
2026-043.61
2026-033.61
2026-023.6
2026-013.57
2025-123.59
2025-113.78
2025-103.82
2025-093.92
2025-084.12
2025-074.25
2025-064.23
2025-054.25
2025-044.21
2025-034.2
2025-024.22
2025-014.21
2024-124.27
2024-114.42
2024-104.51
2024-094.72
2024-085.05
2024-075.2
2024-065.24
2024-055.25
2024-045.24
2024-035.24
2024-025.24
2024-015.22
2023-125.24
2023-115.27
2023-105.34
2023-095.32
2023-085.3
2023-075.25
2023-065.16
2023-055.14
2023-044.92
2023-034.69
2023-024.65
2023-014.54
2022-124.25
2022-114.15
2022-103.72
2022-093.13
2022-082.63
2022-072.23
2022-061.49
2022-050.98
2022-040.76
2022-030.44
2022-020.33
2022-010.15
2021-120.06
2021-110.05
2021-100.05
2021-090.04
2021-080.05
2021-070.05
2021-060.04
2021-050.02
2021-040.02
2021-030.03
2021-020.04
2021-010.08
2020-120.09
2020-110.09
2020-100.1
2020-090.11
2020-080.1
2020-070.13
2020-060.16
2020-050.13
2020-040.14
2020-030.29
2020-021.52
2020-011.52
2019-121.54
2019-111.54
2019-101.65
2019-091.89
2019-081.95
2019-072.1
2019-062.17
2019-052.35
2019-042.38
2019-032.4
2019-022.39
2019-012.37
2018-122.37
2018-112.33
2018-102.25
2018-092.13
2018-082.03
2018-071.96
2018-061.9
2018-051.86
2018-041.76
2018-031.7
2018-021.57
2018-011.41
2017-121.32
2017-111.23
2017-101.07
2017-091.03
2017-081.01
2017-071.07
2017-060.98
2017-050.89
2017-040.8
2017-030.74
2017-020.52
2017-010.51
2016-120.51
2016-110.45
2016-100.33
2016-090.29
2016-080.3
2016-070.3
2016-060.27
2016-050.27
2016-040.23
2016-030.29
2016-020.31
2016-010.26
2015-120.23
2015-110.12
2015-100.02
2015-090.02
2015-080.07
2015-070.03
2015-060.02
2015-050.02
2015-040.02
2015-030.03
2015-020.02
2015-010.03
2014-120.03
2014-110.02
2014-100.02
2014-090.02
2014-080.03
2014-070.03
2014-060.04
2014-050.03
2014-040.03
2014-030.05
2014-020.05
2014-010.04
2013-120.07
2013-110.07
2013-100.05
2013-090.02
2013-080.04
2013-070.04
2013-060.05
2013-050.04
2013-040.06
2013-030.09
2013-020.1
2013-010.07
2012-120.07
2012-110.09
2012-100.1
2012-090.11
2012-080.1
2012-070.1
2012-060.09
2012-050.09
2012-040.08
2012-030.08
2012-020.09
2012-010.03
2011-120.01
2011-110.01
2011-100.02
2011-090.01
2011-080.02
2011-070.04
2011-060.04
2011-050.04
2011-040.06
2011-030.1
2011-020.13
2011-010.15
2010-120.14
2010-110.14
2010-100.13
2010-090.15
2010-080.16
2010-070.16
2010-060.12
2010-050.16
2010-040.16
2010-030.15
2010-020.11
2010-010.06
2009-120.05
2009-110.05
2009-100.07
2009-090.12
2009-080.17
2009-070.18
2009-060.18
2009-050.18
2009-040.16
2009-030.21
2009-020.3
2009-010.13
2008-120.03
2008-110.19
2008-100.67
2008-091.13
2008-081.72
2008-071.63
2008-061.86
2008-051.73
2008-041.29
2008-031.26
2008-022.12
2008-012.75
2007-123
2007-113.27
2007-103.9
2007-093.89
2007-084.2
2007-074.82
2007-064.61
2007-054.73
2007-044.87
2007-034.94
2007-025.03
2007-014.98
2006-124.85
2006-114.94
2006-104.92
2006-094.81
2006-084.96
2006-074.95
2006-064.79
2006-054.72
2006-044.6
2006-034.51
2006-024.43
2006-014.24
2005-123.89
2005-113.88
2005-103.71
2005-093.42
2005-083.44
2005-073.22
2005-062.97
2005-052.84
2005-042.78
2005-032.74
2005-022.54
2005-012.33
2004-122.19
2004-112.07
2004-101.76
2004-091.65
2004-081.48
2004-071.33
2004-061.27
2004-051.02
2004-040.94
2004-030.94
2004-020.93
2004-010.88
2003-120.9
2003-110.93
2003-100.92
2003-090.94
2003-080.95
2003-070.9
2003-060.92
2003-051.07
2003-041.13
2003-031.13
2003-021.17
2003-011.17
2002-121.19
2002-111.23
2002-101.58
2002-091.63
2002-081.62
2002-071.68
2002-061.7
2002-051.73
2002-041.71
2002-031.79
2002-021.72
2002-011.65
2001-121.69
2001-111.87
2001-102.16
2001-092.64
2001-083.36
2001-073.51
2001-063.49
2001-053.62
2001-043.87
2001-034.42
2001-024.88
2001-015.15
2000-125.77
2000-116.17
2000-106.11
2000-096
2000-086.09
2000-075.96
2000-065.69
2000-055.79
2000-045.66
2000-035.69
2000-025.55
2000-015.32
1999-125.2
1999-115.07
1999-104.86
1999-094.68
1999-084.72
1999-074.55
1999-064.57
1999-054.5
1999-044.29
1999-034.44
1999-024.44
1999-014.34
1998-124.39
1998-114.41
1998-103.96
1998-094.61
1998-084.9
1998-074.96
1998-064.98
1998-055
1998-044.95
1998-035.03
1998-025.09
1998-015.04
1997-125.16
1997-115.14
1997-104.97
1997-094.95
1997-085.14
1997-075.05
1997-064.93
1997-055.05
1997-045.16
1997-035.14
1997-025.01
1997-015.03
1996-124.91
1996-115.03
1996-104.99
1996-095.09
1996-085.05
1996-075.15
1996-065.09
1996-055.02
1996-044.95
1996-034.96
1996-024.83
1996-015
1995-125.14
1995-115.36
1995-105.28
1995-095.28
1995-085.4
1995-075.42
1995-065.47
1995-055.67
1995-045.65
1995-035.73
1995-025.77
1995-015.71
1994-125.6
1994-115.29
1994-104.95
1994-094.62
1994-084.48
1994-074.33
1994-064.14
1994-054.14
1994-043.68
1994-033.5
1994-023.25
1994-012.98
1993-123.06
1993-113.1
1993-103.02
1993-092.95
1993-083.02
1993-073.04
1993-063.07
1993-052.96
1993-042.87
1993-032.95
1993-022.93
1993-013
1992-123.22
1992-113.13
1992-102.86
1992-092.91
1992-083.13
1992-073.21
1992-063.66
1992-053.63
1992-043.75
1992-034.04
1992-023.84
1992-013.8
1991-124.07
1991-114.56
1991-104.99
1991-095.22
1991-085.33
1991-075.58
1991-065.57
1991-055.46
1991-045.65
1991-035.91
1991-025.94
1991-016.22
1990-126.74
1990-117.06
1990-107.17
1990-097.36
1990-087.45
1990-077.62
1990-067.73
1990-057.74
1990-047.77
1990-037.9
1990-027.74
1990-017.64
1989-127.63
1989-117.69
1989-107.64
1989-097.75
1989-087.9
1989-077.88
1989-068.15
1989-058.43
1989-048.65
1989-038.82
1989-028.53
1989-018.27
1988-128.07
1988-117.76
1988-107.35
1988-097.24
1988-087.06
1988-076.73
1988-066.46
1988-056.26
1988-045.91
1988-035.7
1988-025.66
1988-015.81
1987-125.77
1987-115.69
1987-106.13
1987-096.4
1987-086.04
1987-075.69
1987-065.67
1987-055.66
1987-045.64
1987-035.59
1987-025.59
1987-015.43
1986-125.53
1986-115.35
1986-105.18
1986-095.21
1986-085.53
1986-075.83
1986-066.21
1986-056.15
1986-046.06
1986-036.56
1986-027.06
1986-017.07
1985-127.1
1985-117.24
1985-107.16
1985-097.1
1985-087.14
1985-077.08
1985-066.95
1985-057.48
1985-047.95
1985-038.52
1985-028.27
1985-017.76
1984-128.06
1984-118.61
1984-109.74
1984-0910.37
1984-0810.47
1984-0710.12
1984-069.87
1984-059.83
1984-049.69
1984-039.52
1984-029.09
1984-018.9
1983-129
1983-118.76
1983-108.64
1983-099
1983-089.34
1983-079.08
1983-068.79
1983-058.19
1983-048.21
1983-038.35
1983-028.11
1983-017.86
1982-127.94
1982-118.07
1982-107.71
1982-097.92
1982-088.68
1982-0711.35
1982-0612.47
1982-0512.09
1982-0412.7
1982-0312.68
1982-0213.48
1982-0112.28
1981-1210.85
1981-1110.86
1981-1013.54
1981-0914.7
1981-0815.51
1981-0714.95
1981-0614.73
1981-0516.3
1981-0413.69
1981-0313.36
1981-0214.79
1981-0115.02
1980-1215.49
1980-1113.73
1980-1011.62
1980-0910.27
1980-089.13
1980-078.06
1980-067.07
1980-058.58
1980-0413.2
1980-0315.2
1980-0212.86
1980-0112
1979-1212.04
1979-1111.79
1979-1011.7
1979-0910.26
1979-089.52
1979-079.24
1979-069.06
1979-059.61
1979-049.46
1979-039.48
1979-029.32
1979-019.35
1978-129.08
1978-118.64
1978-107.99
1978-097.85
1978-087.08
1978-077.01
1978-066.73
1978-056.41
1978-046.29
1978-036.29
1978-026.45
1978-016.44
1977-126.07
1977-116.1
1977-106.16
1977-095.81
1977-085.49
1977-075.19
1977-065.02
1977-054.96
1977-044.54
1977-034.6
1977-024.67
1977-014.62
1976-124.35
1976-114.75
1976-104.92

Definition

Secondary-market rate on 3-month US Treasury bills, quoted on a discount basis using a 360-day year, monthly average of business days, in percent per year (Federal Reserve H.15, RIFSGFSM03_N.M).

A discount-basis quote relates the discount to the bill's face value. It is not the 3-month constant maturity Treasury yield, which is quoted on an investment basis.

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How to cite

Board of Governors of the Federal Reserve System. H.15 Selected Interest Rates: 3-month Treasury bill secondary market rate, discount basis, monthly average (RIFSGFSM03_N.M). https://www.federalreserve.gov/datadownload/Output.aspx?rel=H15&series=d7e27b7b09a3a7feae95b9c61781fcd8&lastobs=&from=&to=&filetype=csv&label=include&layout=seriescolumn&type=package. Retrieved 2026-10-12.

Citation styles

The publisher is the author. Invokely is named only as the place the figures were read, where a style asks for it.

APA 7

Board of Governors of the Federal Reserve System. (n.d.). H.15 Selected Interest Rates: 3-month Treasury bill secondary market rate, discount basis, monthly average (RIFSGFSM03_N.M) (3-month Treasury bill rate, United States, 1976-10 to 2026-09) [Data set]. Retrieved October 12, 2026, from https://www.federalreserve.gov/datadownload/Output.aspx?rel=H15&series=d7e27b7b09a3a7feae95b9c61781fcd8&lastobs=&from=&to=&filetype=csv&label=include&layout=seriescolumn&type=package

MLA 9

H.15 Selected Interest Rates: 3-month Treasury bill secondary market rate, discount basis, monthly average (RIFSGFSM03_N.M), 3-month Treasury bill rate, United States, 1976-10 to 2026-09. Board of Governors of the Federal Reserve System, https://www.federalreserve.gov/datadownload/Output.aspx?rel=H15&series=d7e27b7b09a3a7feae95b9c61781fcd8&lastobs=&from=&to=&filetype=csv&label=include&layout=seriescolumn&type=package. Invokely, https://invokely.ai/en/us-3-month-treasury-bill-rate/united-states. Accessed 12 Oct. 2026.

Chicago (author-date)

Board of Governors of the Federal Reserve System. n.d. H.15 Selected Interest Rates: 3-month Treasury bill secondary market rate, discount basis, monthly average (RIFSGFSM03_N.M). 3-month Treasury bill rate, United States, 1976-10 to 2026-09. Dataset. Accessed October 12, 2026. https://www.federalreserve.gov/datadownload/Output.aspx?rel=H15&series=d7e27b7b09a3a7feae95b9c61781fcd8&lastobs=&from=&to=&filetype=csv&label=include&layout=seriescolumn&type=package. Also distributed by Invokely, https://invokely.ai/en/us-3-month-treasury-bill-rate/united-states.

Harvard

Board of Governors of the Federal Reserve System (no date) H.15 Selected Interest Rates: 3-month Treasury bill secondary market rate, discount basis, monthly average (RIFSGFSM03_N.M), 3-month Treasury bill rate, United States, 1976-10 to 2026-09 [Dataset]. Available at: https://www.federalreserve.gov/datadownload/Output.aspx?rel=H15&series=d7e27b7b09a3a7feae95b9c61781fcd8&lastobs=&from=&to=&filetype=csv&label=include&layout=seriescolumn&type=package, via Invokely: https://invokely.ai/en/us-3-month-treasury-bill-rate/united-states (Accessed: 12 October 2026).

BibTeX
@misc{board_3_month_treasury_bill_2026,
  author = {{Board of Governors of the Federal Reserve System}},
  title = {{H.15 Selected Interest Rates: 3-month Treasury bill secondary market rate, discount basis, monthly average (RIFSGFSM03\_N.M): 3-month Treasury bill rate, United States, 1976-10 to 2026-09}},
  howpublished = {Data set},
  url = {https://www.federalreserve.gov/datadownload/Output.aspx?rel=H15&series=d7e27b7b09a3a7feae95b9c61781fcd8&lastobs=&from=&to=&filetype=csv&label=include&layout=seriescolumn&type=package},
  urldate = {2026-10-12},
  note = {Accessed via Invokely, https://invokely.ai/en/us-3-month-treasury-bill-rate/united-states. Publisher attribution: Board of Governors of the Federal Reserve System. H.15 Selected Interest Rates: 3-month Treasury bill secondary market rate, discount basis, monthly average (RIFSGFSM03\_N.M). https://www.federalreserve.gov/datadownload/Output.aspx?rel=H15\&series=d7e27b7b09a3a7feae95b9c61781fcd8\&lastobs=\&from=\&to=\&filetype=csv\&label=include\&layout=seriescolumn\&type=package. Retrieved 2026-10-12.},
}
RIS
TY  - DATA
AU  - Board of Governors of the Federal Reserve System
TI  - H.15 Selected Interest Rates: 3-month Treasury bill secondary market rate, discount basis, monthly average (RIFSGFSM03_N.M): 3-month Treasury bill rate, United States, 1976-10 to 2026-09
PB  - Board of Governors of the Federal Reserve System
DB  - Invokely
UR  - https://www.federalreserve.gov/datadownload/Output.aspx?rel=H15&series=d7e27b7b09a3a7feae95b9c61781fcd8&lastobs=&from=&to=&filetype=csv&label=include&layout=seriescolumn&type=package
L2  - https://invokely.ai/en/us-3-month-treasury-bill-rate/united-states
Y2  - 2026/10/12
N1  - Accessed via Invokely, https://invokely.ai/en/us-3-month-treasury-bill-rate/united-states.
N1  - Publisher attribution: Board of Governors of the Federal Reserve System. H.15 Selected Interest Rates: 3-month Treasury bill secondary market rate, discount basis, monthly average (RIFSGFSM03_N.M). https://www.federalreserve.gov/datadownload/Output.aspx?rel=H15&series=d7e27b7b09a3a7feae95b9c61781fcd8&lastobs=&from=&to=&filetype=csv&label=include&layout=seriescolumn&type=package. Retrieved 2026-10-12.
ER  -
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Questions

What is the 3-month Treasury bill rate in United States?

3-month Treasury bill rate in the United States was 3.94% in September 2026, according to the Board of Governors of the Federal Reserve System. That is up 0.02 pts from September 2025.

Where does this figure come from?

Board of Governors of the Federal Reserve System. H.15 Selected Interest Rates: 3-month Treasury bill secondary market rate, discount basis, monthly average (RIFSGFSM03_N.M). Retrieved by Invokely on 2026-10-12.

What was the highest 3-month Treasury bill rate in United States?

16.3% in May 1981, the highest value since October 1976 in this series.

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