Benchmark Rate Skill

Overview

Benchmark Rate provides the current values for the key risk-free reference rates used in global financial markets. These rates replaced LIBOR and are used for derivatives, loans, mortgages, and other financial contracts. Data is refreshed daily from FRED.

Live Test Benchmark Rate Skill Skill →

The tool

Once your client is connected to the VerveKit server, this appears in its tool list as BenchmarkRateSkill. It is read-only and open-world — it fetches and never mutates anything on your side — so most clients call it without asking you to confirm.

{
  "name": "BenchmarkRateSkill",
  "arguments": {
    "rate": "SOFR"
  }
}

You do not name the tool yourself; the model picks it. Asking about SOFR in the terms this skill covers is enough for it to reach for BenchmarkRateSkill on its own — naming it explicitly also works, and is the way to force the call.

Connecting

One server URL covers every skill in the catalog, including this one. Authorization is OAuth: the client opens a browser once, and there is no key to paste into a config file.

{
  "mcpServers": {
    "vervekit": {
      "url": "https://api.vervekit.com/v1/mcp"
    }
  }
}

https://api.vervekit.com/v1/mcp

Per-client setup — Claude, Cursor, VS Code, ChatGPT — is on the MCP setup page.

Arguments

These are the properties on the tool's inputSchema, so a well-behaved client validates them before the call is made. Premium arguments are accepted on every plan but only take effect on plans that include them.

What the model gets back

The result carries a structuredContent object matching the tool's declared outputSchema, so a client reads fields without parsing prose. status is "ok" and error is null on success; a null field means the value was not available for that input, not that the call failed.

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{
  "status": "ok",
  "error": null,
  "data": {
    "rate": "SOFR",
    "name": "Secured Overnight Financing Rate",
    "currency": "USD",
    "region": "United States",
    "administrator": "Federal Reserve Bank of New York",
    "value": 4.32,
    "date": "2026-02-04",
    "lastUpdated": "2026-02-05T05:00:00.000Z",
    "change1d": -0.01,
    "changeDirection": "down",
    "previousValue": 4.33,
    "previousDate": "2026-02-03"
  }
}

Response fields

Paths are relative to data. Premium fields are absent rather than zeroed on plans that do not include them, so check for presence instead of comparing to 0.

Failure modes

Errors come back as tool errors carrying a sentence the model can act on, not a bare status code. Error handling covers the full list.

A call costs 2 credits each time the tool actually runs; a model that reasons about the tool without calling it costs nothing.

Use cases

Floating Loan Servicing

Lending software recalculates monthly interest charges on adjustable corporate credit facilities by fetching the latest published SOFR or SONIA figures.

Interest Rate Swaps

To price floating-leg derivative contracts, quantitative analysts pull current SARON and ESTR levels to mark overnight indexed swaps to market.

Treasury Risk Monitoring

Treasury teams monitor rate shifts across dollar, pound, and euro credit lines by reading each day's movement direction.

Settlement Contract Auditing

Before settling cross-currency accounts, compliance engines verify applied borrowing rates against official published values for the matching transaction date.

Other ways to use Benchmark Rate Skill

Set up Benchmark Rate Skill on VerveKit, or reach the same source a different way. Your VerveKit account and credits work on all of them — one key, one balance.

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