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

Statistical Supplement | October 2004

Statistical Supplement to the Federal Reserve Bulletin, October 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

2004--June 30	4.25
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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
June	4.01
July	4.25
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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: April 6, 2005