500metrics

Selected Interest Rates: Discount rate

What has the primary credit rate been over time?

On , the primary credit rate was 4.00%, down 0.25 percentage points from 4.25% on .

The primary credit rate, average of each month

286 months since January 2003Averages ours, from the business-day values

The primary credit rate, average of each month, 15 Jan 2003 to 15 Oct 2026, recessions shaded
The primary credit rate, average of each month, 15 Oct 2016 to 15 Oct 2026, recessions shaded
The primary credit rate, average of each month, 15 Oct 2024 to 15 Oct 2026

Shaded bands are US recessions as the National Bureau of Economic Research dates them: to , to .

Shaded bands are US recessions as the National Bureau of Economic Research dates them: to .

The primary credit rate in each calendar year: its average, highest and lowest business day

24 calendar years, 2003 to 2026Ours, from the business-day values

The primary credit rate in each calendar year: its average, highest and lowest business day, 1 Jul 2003 to 1 Jul 2026, recessions shaded
The primary credit rate in each calendar year: its average, highest and lowest business day, 1 Jul 2016 to 1 Jul 2026, recessions shaded

Shaded bands are US recessions as the National Bureau of Economic Research dates them: to , to .

Shaded bands are US recessions as the National Bureau of Economic Research dates them: to .

The lines

  • Average, 20263.78%
  • High, 20264.00%
  • Low, 20263.75%

The primary credit rate each business day

The last 30 business days

The primary credit rate each business day, 15 Sep 2026 to 26 Oct 2026

Each point is one month's average (ours), one year's average, high or low, or one business day; pointing at the chart shows the point's date and value.

Select a line to followLatest:

Observed .

Right now

The primary credit rate was 4.00% on , the highest since .

It was last lower on , at 3.75%.

ChangeOurs

PeriodThenChange
One month3.75%, the average in +0.11 percentage points
Three months3.75%, the average in +0.11 percentage points
Twelve months4.40%, the average in −0.54 percentage points
Five years0.25%, the average in +3.61 percentage points
Ten years1.00%, the average in +2.86 percentage points

In historyOurs

The average primary credit rate of 3.86% in was higher than in 214 of the 284 other months since , the same in 0 and lower in 70.

Highest since : 6.25% in . Lowest since : 0.25% in .

AverageOurs

Average since : 2.361% (ours, a plain mean of the 285 months).

This yearSo far, ours

Average 3.78%; highest 4.00% on , lowest 3.75% on .

4.00%

Low 3.75% Midpoint 3.875% High 4.00%

See every year's average, high and low

Understanding the primary credit rate

Where it stands today

The primary credit rate was 4.00% on .

What are these values?

The primary credit rate, also called the discount rate, is the rate the Federal Reserve Banks charge banks in sound financial condition for short-term loans. The values are the Federal Reserve Board's H.15 series "Discount rate" as published for each business day.

Read more

Yearly and monthly averages, highs, lows and changes are computed by 500metrics from those values: an average is the plain mean of the business days with a value, rounded to two decimals; a high or low is the first day of the year with that value.

The numbers behind the chart

What were the average, high and low in each year?24 calendar years, newest first
Primary credit rate by calendar year, newest first (%)
YearAverageHighHigh onLowLow onLast value
20263.78%4.00%3.75%4.00%
20254.37%4.50%3.75%3.75%
20245.31%5.50%4.50%4.50%
20235.20%5.50%4.50%5.50%
20221.86%4.50%0.25%4.50%
20210.25%0.25%0.25%0.25%
20200.64%2.25%0.25%0.25%
20192.78%3.00%2.25%2.25%
20182.40%3.00%2.00%3.00%
20171.60%2.00%1.25%2.00%
Show 14 more rows
YearAverageHighHigh onLowLow onLast value
20161.01%1.25%1.00%1.25%
20150.76%1.00%0.75%1.00%
20140.75%0.75%0.75%0.75%
20130.75%0.75%0.75%0.75%
20120.75%0.75%0.75%0.75%
20110.75%0.75%0.75%0.75%
20100.72%0.75%0.50%0.75%
20090.50%0.50%0.50%0.50%
20082.39%4.75%0.50%0.50%
20075.86%6.25%4.75%4.75%
20065.96%6.25%5.25%6.25%
20054.20%5.25%3.25%5.25%
20042.35%3.25%2.00%3.25%
20032.12%2.25%2.00%2.00%

The table scrolls sideways; the first column stays in place.

What did the rate average in each month?286 months, newest first
Primary credit rate, average of each month, newest first (%)
MonthAverage
October 20264.00%
September 20263.86%
August 20263.75%
July 20263.75%
June 20263.75%
May 20263.75%
April 20263.75%
March 20263.75%
February 20263.75%
January 20263.75%
December 20253.84%
November 20254.00%
October 20254.23%
September 20254.40%
August 20254.50%
July 20254.50%
June 20254.50%
May 20254.50%
April 20254.50%
March 20254.50%
February 20254.50%
January 20254.50%
December 20244.65%
November 20244.81%
Show 262 more rows
MonthAverage
October 20245.00%
September 20245.31%
August 20245.50%
July 20245.50%
June 20245.50%
May 20245.50%
April 20245.50%
March 20245.50%
February 20245.50%
January 20245.50%
December 20235.50%
November 20235.50%
October 20235.50%
September 20235.50%
August 20235.50%
July 20235.29%
June 20235.25%
May 20235.22%
April 20235.00%
March 20234.83%
February 20234.74%
January 20234.50%
December 20224.27%
November 20223.93%
October 20223.25%
September 20222.74%
August 20222.50%
July 20221.82%
June 20221.38%
May 20220.93%
April 20220.50%
March 20220.37%
February 20220.25%
January 20220.25%
December 20210.25%
November 20210.25%
October 20210.25%
September 20210.25%
August 20210.25%
July 20210.25%
June 20210.25%
May 20210.25%
April 20210.25%
March 20210.25%
February 20210.25%
January 20210.25%
December 20200.25%
November 20200.25%
October 20200.25%
September 20200.25%
August 20200.25%
July 20200.25%
June 20200.25%
May 20200.25%
April 20200.25%
March 20200.98%
February 20202.25%
January 20202.25%
December 20192.25%
November 20192.25%
October 20192.49%
September 20192.65%
August 20192.75%
July 20193.00%
June 20193.00%
May 20193.00%
April 20193.00%
March 20193.00%
February 20193.00%
January 20193.00%
December 20182.85%
November 20182.75%
October 20182.75%
September 20182.52%
August 20182.50%
July 20182.50%
June 20182.39%
May 20182.25%
April 20182.25%
March 20182.08%
February 20182.00%
January 20182.00%
December 20171.89%
November 20171.75%
October 20171.75%
September 20171.75%
August 20171.75%
July 20171.75%
June 20171.64%
May 20171.50%
April 20171.50%
March 20171.38%
February 20171.25%
January 20171.25%
December 20161.14%
November 20161.00%
October 20161.00%
September 20161.00%
August 20161.00%
July 20161.00%
June 20161.00%
May 20161.00%
April 20161.00%
March 20161.00%
February 20161.00%
January 20161.00%
December 20150.87%
November 20150.75%
October 20150.75%
September 20150.75%
August 20150.75%
July 20150.75%
June 20150.75%
May 20150.75%
April 20150.75%
March 20150.75%
February 20150.75%
January 20150.75%
December 20140.75%
November 20140.75%
October 20140.75%
September 20140.75%
August 20140.75%
July 20140.75%
June 20140.75%
May 20140.75%
April 20140.75%
March 20140.75%
February 20140.75%
January 20140.75%
December 20130.75%
November 20130.75%
October 20130.75%
September 20130.75%
August 20130.75%
July 20130.75%
June 20130.75%
May 20130.75%
April 20130.75%
March 20130.75%
February 20130.75%
January 20130.75%
December 20120.75%
November 20120.75%
October 20120.75%
September 20120.75%
August 20120.75%
July 20120.75%
June 20120.75%
May 20120.75%
April 20120.75%
March 20120.75%
February 20120.75%
January 20120.75%
December 20110.75%
November 20110.75%
October 20110.75%
September 20110.75%
August 20110.75%
July 20110.75%
June 20110.75%
May 20110.75%
April 20110.75%
March 20110.75%
February 20110.75%
January 20110.75%
December 20100.75%
November 20100.75%
October 20100.75%
September 20100.75%
August 20100.75%
July 20100.75%
June 20100.75%
May 20100.75%
April 20100.75%
March 20100.75%
February 20100.58%
January 20100.50%
December 20090.50%
November 20090.50%
October 20090.50%
September 20090.50%
August 20090.50%
July 20090.50%
June 20090.50%
May 20090.50%
April 20090.50%
March 20090.50%
February 20090.50%
January 20090.50%
December 20080.86%
November 20081.25%
October 20081.79%
September 20082.25%
August 20082.25%
July 20082.25%
June 20082.25%
May 20082.25%
April 20082.49%
March 20083.01%
February 20083.50%
January 20084.45%
December 20074.82%
November 20075.00%
October 20075.24%
September 20075.52%
August 20076.01%
July 20076.25%
June 20076.25%
May 20076.25%
April 20076.25%
March 20076.25%
February 20076.25%
January 20076.25%
December 20066.25%
November 20066.25%
October 20066.25%
September 20066.25%
August 20066.25%
July 20066.25%
June 20066.02%
May 20065.92%
April 20065.75%
March 20065.54%
February 20065.50%
January 20065.26%
December 20055.16%
November 20055.00%
October 20054.75%
September 20054.60%
August 20054.43%
July 20054.25%
June 20054.01%
May 20053.99%
April 20053.75%
March 20053.59%
February 20053.49%
January 20053.25%
December 20043.15%
November 20042.92%
October 20042.75%
September 20042.59%
August 20042.43%
July 20042.25%
June 20042.01%
May 20042.00%
April 20042.00%
March 20042.00%
February 20042.00%
January 20042.00%
December 20032.00%
November 20032.00%
October 20032.00%
September 20032.00%
August 20032.00%
July 20032.00%
June 20032.20%
May 20032.25%
April 20032.25%
March 20032.25%
February 20032.25%
January 20032.25%
What was the rate on each of the last 30 business days?Each business day, newest first
Primary credit rate each business day, newest first (%)
DateRate
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
Show 20 more rows
DateRate
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
4.00%
3.75%
3.75%
What do these figures leave out, and how are they cited?Limits, dates and how to cite

What this number cannot tell you

  • Business days only: days with no value (weekends, holidays) are not counted.
  • A month's average hides the moves inside the month; the latest days are shown day by day.

Observed . Checked .

How to cite this

Board of Governors of the Federal Reserve System, H.15 Selected Interest Rates, Discount rate, through 26 October 2026. Compiled by 500metrics, "What has the primary credit rate been over time?", https://500metrics.com/interest-rates/primary-credit-rate.

Can the data be downloaded?interest-rates-primary-credit-rate.csv

Download the full history as CSV: 286 rows, to , 3,737 bytes.

Our text and compilation: CC BY 4.0.

Recession dates from the National Bureau of Economic Research.

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