Federal Reserve Statistical Release, E.15, Agricultural Finance Databook; title with eagle logo links to Statistical Release home page
Release Date: March 31, 2010
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A.5. Average Effective Interest Rates on Non-real-estate Bank Loans Made to Farmers
Percent
Period All
loans
Purpose of loan Size of loan
(thousands of dollars)
Size of bank’s farm
loan portfolio
Feeder
livestock
Other
livestock
Other
current
operating
expenses1
Farm
machinery
and
equipment
Other2 1
to
9
10
to
24
25
to
99
100
and
over
Small or
mid-size3
Large4
1998 9.0 9.4 9.7 9.6 9.3 8.0 10.1 9.9 9.7 8.4 9.8 8.3
1999 8.7 9.1 9.1 9.2 8.8 7.6 9.7 9.5 9.3 8.1 9.4 7.9
2000 9.7 9.8 9.9 9.9 9.3 9.3 10.3 10.2 10.1 9.4 10.2 9.3
2001 7.8 7.6 8.0 8.4 8.3 7.0 9.1 8.7 8.3 7.3 8.9 7.1
2002 5.9 6.1 5.8 6.4 6.7 4.8 7.3 7.0 6.5 5.3 7.2 4.9
2003 5.4 5.1 5.4 5.7 6.0 4.6 6.7 6.4 5.9 4.8 6.5 4.3
2004 5.4 5.3 5.5 5.7 5.5 4.8 6.6 6.4 5.9 5.0 6.4 4.5
2005 6.7 6.9 6.9 7.0 7.0 6.0 7.7 7.5 7.1 6.5 7.4 6.3
2006 8.2 8.3 8.4 8.4 8.4 7.7 8.9 8.9 8.6 8.0 8.7 8.0
2007 8.3 8.6 8.3 8.5 8.5 7.6 9.0 9.0 8.7 8.0 8.8 8.0
2008 5.6 5.7 5.6 5.9 6.3 4.8 6.8 6.6 6.1 5.3 6.8 4.9
2009 4.8 5.0 4.2 5.2 5.2 3.6 5.8 5.6 5.4 4.5 6.1 4.1
 
2006: Q3 8.6 8.4 8.8 8.8 9.0 8.3 9.3 9.2 8.7 8.4 9.0 8.4
Q4 8.4 8.5 8.6 8.7 9.1 7.5 9.2 9.0 8.8 8.1 8.9 8.1
2007: Q1 8.5 8.9 8.3 8.7 8.9 8.1 9.2 9.1 8.8 8.4 8.9 8.2
Q2 8.6 9.0 8.5 8.9 8.7 7.9 9.2 9.1 8.9 8.4 9.1 8.3
Q3 8.5 8.9 8.6 8.8 8.4 7.7 9.1 9.2 8.8 8.1 8.9 8.3
Q4 7.7 8.2 8.1 7.8 8.1 6.9 8.6 8.5 8.3 7.4 8.4 7.3
2008: Q1 6.5 6.7 6.7 6.8 7.1 5.8 7.6 7.4 6.9 6.3 7.3 5.9
Q2 5.7 5.5 5.8 6.1 5.9 4.9 6.7 6.4 6.2 5.4 6.7 5.1
Q3 5.3 5.6 5.4 5.5 6.3 4.7 6.6 6.6 6.1 4.9 6.8 4.8
Q4 4.8 5.0 4.9 5.1 6.5 4.0 6.1 6.1 5.6 4.3 6.2 4.1
2009: Q1 5.1 5.8 4.1 5.5 5.4 3.5 5.7 5.5 5.2 5.0 6.1 4.5
Q2 4.7 5.3 4.4 5.0 6.0 3.6 5.9 5.6 5.3 4.3 6.1 4.1
Q3 4.7 5.0 3.9 5.0 5.8 3.8 5.8 5.7 5.4 4.1 6.2 3.9
Q4 4.5 4.4 4.7 5.0 4.4 3.4 5.9 5.7 5.5 4.0 6.3 3.8
2010: Q1 5.0 4.9 5.3 5.4 5.6 3.7 5.9 5.9 5.4 4.8 6.0 4.3
   Note. Data are estimates from the Federal Reserve System's Survey of the Terms of Bank Lending
to Farmers. Effective (compounded) interest rates are calculated from the stated rate and other terms of
the loans and weighted by loan size. Quarterly estimates are expressed as an annual rate and are based
on loans made during the first full week of the second month of the quarter.
   1. Loans used primarily to finance such items as current crop production expenses and the care and
feeding of livestock (including poultry). Return to table
   2. Typically loans for which the lender does not know the purpose. Return to table
   3. Portfolios with $25 million or less in farm loans. Return to table
   4. Portfolios with more than $25 million in farm loans. Return to table


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