FRB: October 2008 Statistical Supplement--Prime Rate Charged by Banks, Short-Term Business Loans

Statistical Supplement | October 2008

Statistical Supplement to the Federal Reserve Bulletin, October 2008

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

Percent per year

Average rate by month,
2005 | 2006 | 2007 | 2008

Date of change	Rate
0-- 1	4.75
0--November 7	4.25

2003--June 27	4.00

2004--June 30	4.25
2004--August 10	4.50
2004--September 21	4.75
2004--November 10	5.00
2004--December 14	5.25

2005--February 2	5.50
2005--March 22	5.75
2005--May 3	6.00
2005--June 30	6.25
2005--August 9	6.50
2005--September 20	6.75
2005--November 1	7.00
2005--December 13	7.25

2006--January 31	7.50
2006--March 28	7.75
2006--May 10	8.00
2006--June 29	8.25

2007--September 18	7.75
2007--October 31	7.50
2007--December 11	7.25

2008--January 22	6.50
2008-- 30	6.00
2008--March 18	5.25
2008--April 30	5.00
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Year	Average rate
2004	4.34
2005	6.19
2006	7.96
2007	8.05
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2005	Average rate
January	5.25
February	5.49
March	5.58
April	5.75
May	5.98
June	6.01
July	6.25
August	6.44
September	6.59
October	6.75
November	7.00
December	7.15
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2006	Average rate
January	7.26
February	7.50
March	7.53
April	7.75
May	7.93
June	8.02
July	8.25
August	8.25
September	8.25
October	8.25
November	8.25
December	8.25
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2007	Average rate
January	8.25
February	8.25
March	8.25
April	8.25
May	8.25
June	8.25
July	8.25
August	8.25
September	8.03
October	7.74
November	7.50
December	7.33
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2008	Average rate
January	6.98
February	6.00
March	5.66
April	5.24
May	5.00
June	5.00
July	5.00
August	5.00
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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 statistical release. Return to table

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Last update: October 31, 2008