%20Transparen.png/:/rs=h:137,cg:true,m/qt=q:95)
About the Monthly Debenture Pricing
Pricing Date
The date that the 504 debenture rates are set. This occurs the first Thursday of first full week of the month. See funding calendar for exact dates.
25/20/10-year Pool Pricing
20 and 25-year debentures are priced monthly. 10-year debenture pools are priced every other month. 10-year sale months marked with an asterisk (*) on the annual funding calendar.
November 2026 Debenture Pricing
The November 2026 504 debenture pricing was completed on November 5, 2026.
25-year Debenture:
Debenture rate: 5.45%
Comparable Treasury Market Rate: 4.87%
Spread Over Treasury: + 0.58%
Debenture Pool: 413 loans ($488,703,000)
20-year Debenture:
Debenture rate: 5.39%
Comparable Treasury Market Rate: 4.87%
Spread Over Treasury: + 0.52%
Debenture Pool: 28 loans ($25,247,000)
10-year Debenture:
Debenture rate: 5.08%
Comparable Treasury Market Rate: 4.66%
Spread Over Treasury: + 0.42%
Debenture Pool: 18 loans ($12,915,000)
October 2026 Debenture Pricing
The October 2026 504 debenture pricing was completed on October 8, 2026.
25-year Debenture:
Debenture rate: 5.85%
Comparable Treasury Market Rate: 5.28%
Spread Over Treasury: + 0.57%
Debenture Pool: 387 loans ($457,367,000)
20-year Debenture:
Debenture rate: 5.78%
Comparable Treasury Market Rate: 5.28%
Spread Over Treasury: + 0.50%
Debenture Pool: 16 loans ($11,364,000)
September 2026 Debenture Pricing
The September 2026 504 debenture pricing was completed on September 10, 2026.
25-year Debenture:
Debenture rate: 5.41%
Comparable Treasury Market Rate: 4.91%
Spread Over Treasury: + 0.50%
Debenture Pool: 567 loans ($632,918,000)
20-year Debenture:
Debenture rate: 5.34%
Comparable Treasury Market Rate: 4.91%
Spread Over Treasury: + 0.43%
Debenture Pool: 17 loans ($26,903,000)
10-year Debenture:
Debenture Rate: 5.09%
Comparable Treasury Market Rate: 4.71%
Spread Over Treasury: + 0.38%
Debenture Pool: 20 loans ($7,201,000)
August 2026 Debenture Pricing
The August 2026 504 debenture pricing was completed on August 6, 2026.
25-year Debenture:
Debenture rate: 5.14%
Comparable Treasury Market Rate: 4.64%
Spread Over Treasury: + 0.50%
Debenture Pool: 423 loans ($499,169,000)
20-year Debenture:
Debenture rate: 5.08%
Comparable Treasury Market Rate: 4.64%
Spread Over Treasury: + 0.44%
Debenture Pool: 26 loans ($18,547,000)
July 2026 Debenture Pricing
The July 2026 504 debenture pricing was completed on July 9, 2026.
25-year Debenture:
Debenture rate: 5.04%
Comparable Treasury Market Rate: 4.56%
Spread Over Treasury: + 0.48%
Debenture Pool: 439 loans ($516,056,000)
20-year Debenture:
Debenture rate: 5.01%
Comparable Treasury Market Rate: 4.56%
Spread Over Treasury: + 0.45%
Debenture Pool: 18 loans ($10,191,000)
10-year Debenture:
Debenture Rate: 4.69%
Comparable Treasury Market Rate: 4.29%
Spread Over Treasury: + 0.40%
Debenture Pool: 21 loans ($23,291,000)
June 2026 Debenture Pricing
The June 2026 504 debenture pricing was completed on June 11, 2026.
25-year Debenture:
Debenture rate: 4.98%
Comparable Treasury Market Rate: 4.52%
Spread Over Treasury: + 0.46%
Debenture Pool: 515 loans ($564,461,000)
20-year Debenture:
Debenture rate: 4.97%
Comparable Treasury Market Rate: 4.52%
Spread Over Treasury: + 0.45%
Debenture Pool: 29 loans ($28,046,000)
May 2026 Debenture Pricing
The May 2026 504 debenture pricing was completed on May 7, 2026.
25-year Debenture:
Debenture rate: 4.82%
Comparable Treasury Market Rate: 4.34%
Spread Over Treasury: + 0.48%
Debenture Pool: 435 loans ($490,668,000)
20-year Debenture:
Debenture rate: 4.82%
Comparable Treasury Market Rate: 4.34%
Spread Over Treasury: + 0.48%
Debenture Pool: 19 loans ($13,147,000)
10-year Debenture:
Debenture Rate: 4.38%
Comparable Treasury Market Rate: 3.98%
Spread Over Treasury: + 0.40%
Debenture Pool: 13 loans ($6,229,000)
April 2026 Debenture Pricing
The April 2026 504 debenture pricing was completed on April 9, 2026.
25-year Debenture:
Debenture rate: 4.81%
Comparable Treasury Market Rate: 4.31%
Spread Over Treasury: + 0.50%
Debenture Pool: 447 loans ($512,512,000)
20-year Debenture:
Debenture rate: 4.79%
Comparable Treasury Market Rate: 4.31%
Spread Over Treasury: + 0.48%
Debenture Pool: 21 loans ($16,245,000)
March 2026 Debenture Pricing
The March 2026 504 debenture pricing was completed on March 5, 2026.
25-year Debenture:
Debenture rate: 4.59%
Comparable Treasury Market Rate: 4.13%
Spread Over Treasury: + 0.46%
Debenture Pool: 411 loans ($500,597,000)
20-year Debenture:
Debenture rate: 4.59%
Comparable Treasury Market Rate: 4.13%
Spread Over Treasury: + 0.46%
Debenture Pool: 20 loans ($12,981,000)
10-year Debenture:
Debenture Rate: 4.12%
Comparable Treasury Market Rate: 3.72%
Spread Over Treasury: + 0.40%
Debenture Pool: 7 loans ($7,762,000)
February 2026 Debenture Pricing
The February 2026 504 debenture pricing was completed on February 5, 2026.
25-year Debenture:
Debenture rate: 4.67%
Comparable Treasury Market Rate: 4.21%
Spread Over Treasury: + 0.46%
Debenture Pool: 308 loans ($336,600,000)
20-year Debenture:
Debenture rate: 4.67%
Comparable Treasury Market Rate: 4.21%
Spread Over Treasury: + 0.46%
Debenture Pool: 20 loans ($15,670,000)
January 2026 Debenture Pricing
The January 2026 504 debenture pricing was completed on January 8, 2026.
25-year Debenture:
Debenture rate: 4.72%
Comparable Treasury Market Rate: 4.18%
Spread Over Treasury: + 0.54%
Debenture Pool: 292 loans ($309,526,000)
20-year Debenture:
Debenture rate: 4.72%
Comparable Treasury Market Rate: 4.18%
Spread Over Treasury: + 0.54%
Debenture Pool: 16 loans ($19,906,000)
10-year Debenture:
Debenture Rate: 4.18%
Comparable Treasury Market Rate: 3.73%
Spread Over Treasury: + 0.45%
Debenture Pool: 5 loans ($2,993,000)
This website uses cookies.
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.