FRB: July 2004 Statistical Supplement--Prime Rate Charged by Banks, Short-Term Business Loans

Statistical Supplement | July 2004

Statistical Supplement to the Federal Reserve Bulletin, July 2004

1.33 Prime Rate Charged by Banks, Short-Term Business Loans¹

Percent per year

Average rate by month,
2001 | 2002 | 2003 | 2004

Date of change	Rate
2001--January 4	9.00
2001--February 1	8.50
2001--March 21	8.00
2001--April 19	7.50
2001--May 16	7.00
2001--June 28	6.75
2001--August 22	6.50
2001--September 18	6.00
2001--October 3	5.50
2001--November 7	5.00
2001--December 12	4.75

2002--November 7	4.25

2003--June 27	4.00
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Year	Average rate
2001	6.91
2002	4.67
2003	4.12
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2001	Average rate
January	9.05
February	8.50
March	8.32
April	7.80
May	7.24
June	6.98
July	6.75
August	6.67
September	6.28
October	5.53
November	5.10
December	4.84
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2002	Average rate
January	4.75
February	4.75
March	4.75
April	4.75
May	4.75
June	4.75
July	4.75
August	4.75
September	4.75
October	4.75
November	4.35
December	4.25
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2003	Average rate
January	4.25
February	4.25
March	4.25
April	4.25
May	4.25
June	4.22
July	4.00
August	4.00
September	4.00
October	4.00
November	4.00
December	4.00
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2004	Average rate
January	4.00
February	4.00
March	4.00
April	4.00
May	4.00
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1. The prime rate is one of several base rates that banks use to price short-term business loans. The table shows the date on which a new rate came to be the predominant one quoted by a majority of the twenty-five largest banks by asset size, based on the most recent Call Report. Data in this table also appear in the Board's H.15 (519) weekly and G.13 (415) monthly statistical releases. Return to table

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Last update: May 16, 2005