Risk and sentiment
Korea CD 91D Rate
The 91-day certificate of deposit rate. It represents banks' short-term funding cost and still serves as the reference rate for some loan products, a channel through which market rates reach borrowers.
At a glance
Korea CD 91D Rate: latest value and prior change
As of 2026-09-07, Korea CD 91D Rate is 3.12 %. It is unchanged from 3.12 % on 2026-09-04.
Within the default comparison window of 1,000 observations from 2022-08-09 to 2026-09-07, the latest value is at the tie-adjusted 44th percentile. Available history covers 1995-01-03 to 2026-09-07 with 8,043 observations.
- Observed on
- Default comparison window
- 2022-08-09–2026-09-07
- Observations · observed cadence
- 1,000 · Daily
- Data source
- Bank of Korea ECOS
A high or low percentile does not by itself make the indicator positive, negative, or a buy or sell signal.
Time-series chart
Korea CD 91D Rate
1995-01-03–2026-09-07
Long-history series are stored as real provider observations. Index, FX, VIX, and ratio charts use historical backfill where providers expose it; Korean investor flow and margin-credit feeds expand as stable historical endpoints become available.
Recent observations and calculated changes
The ten latest chart observations. Change subtracts the previous observation; intervals vary with holidays, release schedules and missing data. A difference in rates or ratios is not an investment return.
| Observed | Value | Previous date | Difference (current − previous) |
|---|---|---|---|
| 2026-09-07 | 3.12 % | 2026-09-04 | 0.00 %p |
| 2026-09-04 | 3.12 % | 2026-09-03 | 0.00 %p |
| 2026-09-03 | 3.12 % | 2026-09-02 | 0.00 %p |
| 2026-09-02 | 3.12 % | 2026-09-01 | 0.00 %p |
| 2026-09-01 | 3.12 % | 2026-08-31 | 0.00 %p |
| 2026-08-31 | 3.12 % | 2026-08-28 | -0.01 %p |
| 2026-08-28 | 3.13 % | 2026-08-27 | 0.01 %p |
| 2026-08-27 | 3.12 % | 2026-08-26 | 0.15 %p |
| 2026-08-26 | 2.97 % | 2026-08-25 | 0.02 %p |
| 2026-08-25 | 2.95 % | 2026-08-24 | -0.01 %p |
Source: Bank of Korea ECOS
Interpretation guide
The CD 91-day rate: bank funding costs and the benchmark for floating-rate loans
The Korea CD 91D Rate is the secondary-market yield on 91-day negotiable certificates of deposit issued by banks, published by the Korea Financial Investment Association. It measures banks' short-term funding cost and has long served as the reference rate for floating-rate loans and rate derivatives, so its moves feed straight into household and corporate interest burdens.
What this rate prices
The CD rate is the market price of three-month bank funding. It combines policy-rate expectations with bank-sector funding demand and credit conditions, reflecting both at once.
- When hike expectations build, the CD rate tends to rise ahead of the actual policy move.
- A widening spread over the BOK Base Rate indicates tightening bank funding conditions.
- Deposit competition or regulatory-ratio management can lift CD issuance and push the rate higher.
Transmission to households and firms
The 91-day CD rate is one of the main references for floating-rate mortgages and corporate loans. When it rises, debt-service costs follow with a lag, squeezing consumption capacity and property demand.
- During CD-rate upswings, track whether Korea Housing Loans YoY starts to decelerate.
- Higher interest burdens are a headwind for domestic consumer names but can lift bank net interest margins near term.
- Even after the rate turns down, loan repricing lags, so relief reaches borrowers late.
Indicators that sharpen the read
On its own, a rising CD rate cannot tell you whether the driver is policy expectations or bank stress. Its position relative to neighboring short rates settles the question.
- If the Korea Call Rate is stable while the CD rate climbs, suspect bank-specific funding demand.
- A narrowing or inverted gap versus the Korea CP 91D Rate calls for a broader credit-market reassessment.
- In periods of thin CD issuance, the posted rate can lose representativeness — weigh it accordingly.