C.5. Average Variable Interest Rates on Farm Loans Percent ___________________________________________________________________________ Other operating Intermediate non-real- Long-term real Quarter loans 1 estate loans estate loans ___________________________________________________________________________ Ninth (Minneapolis) Federal Reserve District (MI*, MN, MT, ND, SD, WI*) ___________________________________________________________________________ 2001: Q4... | 7.9 7.7 7.2 2002: Q1... | 7.4 7.5 7.0 Q2... | 7.2 7.2 6.8 Q3... | 6.8 6.7 6.4 Q4... | 6.7 6.6 6.3 2003: Q1... | 6.5 6.4 6.1 Q2... | 6.3 6.2 5.9 Q3... | 6.2 6.1 5.7 Q4... | 6.1 6.1 5.7 ___________________________________________________________________________ Tenth (Kansas City) Federal Reserve District (CO, KS, MO*, NE, NM*, OK, WY) ___________________________________________________________________________ 2001: Q4... | 0.0 0.0 0.0 2002: Q1... | 0.0 0.0 0.0 Q2... | 7.7 7.6 7.1 Q3... | 7.5 7.4 6.9 Q4... | 7.2 7.0 6.6 2003: Q1... | 7.0 6.9 6.4 Q2... | 6.9 6.8 6.3 Q3... | 6.7 6.6 6.1 Q4... | 6.7 6.6 6.2 ___________________________________________________________________________ Twelfth (San Francisco) Federal Reserve District (AL, AZ, CA, HI, ID, NV, OR, UT, WA) ___________________________________________________________________________ 2001: Q4... | n.a. n.a. n.a. 2002: Q1... | n.a. n.a. n.a. Q2... | n.a. n.a. n.a. Q3... | n.a. n.a. n.a. Q4... | n.a. n.a. n.a. 2003: Q1... | 5.8 6.0 6.2 Q2... | 5.2 5.3 5.2 Q3... | 5.1 5.3 5.6 Q4... | 4.6 4.9 5.7 ___________________________________________________________________________ 1. Loans used primarily to finance such items as current crop production expenses and the care and feeding of livestock (including poultry). * State falls only partly within the indicated Reserve District. n.a. Not available. Source. Federal Reserve Bank quarterly surveys of agricultural credit conditions at commercial banks. 38