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Interest Calculation: Rates and Methodology | Federal Energy Regulatory Commission

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d="M-36.8,31.2c1.7,0,3.2,0.8,4.2,2.1c-0.6,0.4-1.1,0.9-1.5,1.4c-1,1.1-1.6,2.4-1.9,3.9l0.9-0.2c1-4.1,5.1-6.6,9.1-5.6 c2.7,0.7,4.9,2.8,5.6,5.6l0.9,0.2c-0.3-1.4-0.9-2.8-1.9-3.9c-0.4-0.5-0.9-1-1.5-1.4c1.7-2.3,5-2.9,7.4-1.1c1.1,0.8,1.8,2,2.1,3.3 l1.1,0.3c-0.3-2.5-2-4.6-4.4-5.4c1.6-1,2-3.2,0.9-4.7c-1-1.6-3.2-2-4.7-0.9c-1.6,1-2,3.2-0.9,4.7c0.2,0.4,0.6,0.7,0.9,0.9 c-1.3,0.4-2.4,1.2-3.2,2.3c-0.6-0.4-1.3-0.6-2-0.8c2.2-1.1,3.1-3.9,2-6.1c-1.1-2.2-3.9-3.1-6.1-2c-2.2,1.1-3.1,3.9-2,6.1 c0.4,0.9,1.1,1.6,2,2c-0.7,0.2-1.4,0.4-2,0.8c-0.8-1.1-1.9-1.9-3.2-2.3c1.6-1,2-3.2,0.9-4.7c-1-1.6-3.2-2-4.7-0.9 c-1.6,1-2,3.2-0.9,4.7c0.2,0.4,0.6,0.7,0.9,0.9c-2.4,0.8-4.1,2.8-4.3,5.3l1.1-0.3C-41.4,33-39.3,31.2-36.8,31.2z M-18.5,25.3 c1.3,0,2.4,1.1,2.4,2.4s-1.1,2.4-2.4,2.4c-1.3,0-2.4-1.1-2.4-2.4C-20.9,26.4-19.8,25.3-18.5,25.3L-18.5,25.3z M-27.6,24.5 c1.9,0,3.5,1.5,3.6,3.5s-1.5,3.5-3.5,3.6s-3.5-1.5-3.6-3.5c0,0,0-0.1,0-0.1C-31.1,26.1-29.6,24.5-27.6,24.5L-27.6,24.5z M-36.8,25.3 c1.3,0,2.4,1.1,2.4,2.4c0,1.3-1.1,2.4-2.4,2.4c-1.3,0-2.4-1.1-2.4-2.4C-39.2,26.4-38.1,25.3-36.8,25.3 C-36.8,25.3-36.8,25.3-36.8,25.3z"/> <rect x="-49" y="-1.7" class="st0" width="42.9" height="42.8"/> </svg> </span> <span class="header__menu-title">Tribal Relations</span> </a> </li> <li class="header__menu-item header__menu-item--toggle" aria-expanded="false"> <a class="header__menu-link header__menu-link--icon header__menu-link--toggle" href=""> <span class="header__menu-icon"> <svg class="icon icon--about" viewBox="0 0 44 44" xmlns="http://www.w3.org/2000/svg"><path d="M22 44c12.15 0 22-9.85 22-22S34.15 0 22 0 0 9.85 0 22s9.85 22 22 22zm0-1.5C10.678 42.5 1.5 33.322 1.5 22S10.678 1.5 22 1.5 42.5 10.678 42.5 22 33.322 42.5 22 42.5z"/><path d="M25.488 29.26a11.438 11.438 0 01-2.035 2.97 4.506 4.506 0 01-3.472 1.52 2.872 2.872 0 01-2.1-.693 2.229 2.229 0 01-.7-1.643 8.6 8.6 0 01.617-2.686l2.153-5.891c.159-.344.265-.709.316-1.084a.457.457 0 00-.149-.334.464.464 0 00-.334-.151c-.38 0-.794.295-1.244.885a9.349 9.349 0 00-1.009 1.584h-1.47a8.622 8.622 0 012.561-3.412 5.162 5.162 0 013.145-1.21 2.973 2.973 0 011.827.543c.468.33.74.87.726 1.443a5.379 5.379 0 01-.366 1.918l-2.6 6.992c-.155.37-.245.765-.267 1.166.004.146.06.286.159.394a.444.444 0 00.342.191 1.513 1.513 0 001.034-.533 9.63 9.63 0 001.337-1.97l1.529.001zm1.234-16.868a2.1 2.1 0 01-.642 1.542 2.153 2.153 0 01-3.07 0 2.129 2.129 0 01-.627-1.542 2.188 2.188 0 013.279-1.861c.32.186.587.45.776.768.194.331.292.71.285 1.093h-.001z"/></svg> </span> <span class="header__menu-title">About</span> </a> <nav class="header__megamenu"> <ul class="header__menu-items"> <li class="header__menu-item header__menu-item--toggle" aria-expanded="false"> <a class="header__menu-link header__menu-link--toggle" href=""> <span class="header__menu-title">What is FERC?</span> <hr class="hr--title header__menu-line header__menu-line--hidden"> </a> <ul class="header__submenu-items"> <li class="header__submenu-item"> <a href="/what-ferc" class="header__submenu-link" data-drupal-link-system-path="node/2254">About</a> </li> <li class="header__submenu-item"> <a href="/strategic-documents" class="header__submenu-link" data-drupal-link-system-path="node/2304">Strategic Documents</a> </li> <li class="header__submenu-item"> <a href="/what-ferc-does" class="header__submenu-link" data-drupal-link-system-path="node/2309">What FERC Does</a> </li> <li class="header__submenu-item"> <a href="/EJ" class="header__submenu-link" data-drupal-link-system-path="node/19509">Environmental Justice</a> </li> <li class="header__submenu-item"> <a href="/frequently-asked-questions-faqs-0" class="header__submenu-link" data-drupal-link-system-path="node/446">Frequently Asked Questions (FAQs)</a> </li> <li class="header__submenu-item"> <a href="/administrative-policies" class="header__submenu-link" data-drupal-link-system-path="node/5446">Administrative Policies</a> </li> <li class="header__submenu-item"> <a href="/public-reference-assistance" 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<a href="/about/commission-members/commissioner-david-rosner" class="header__submenu-link" data-drupal-link-system-path="node/20702">Commissioner Rosner</a> </li> <li class="header__submenu-item"> <a href="/about/commission-members/commissioner-lindsay-s-see" class="header__submenu-link" data-drupal-link-system-path="node/20703">Commissioner See</a> </li> <li class="header__submenu-item"> <a href="/about/commission-members/commissioner-chang" class="header__submenu-link" data-drupal-link-system-path="node/20704">Commissioner Chang</a> </li> <li class="header__submenu-item"> <a href="/commission-members-senior-staff/commission-members-and-senior-staff" class="header__submenu-link" data-drupal-link-system-path="node/14345">Commission Members and Senior Staff</a> </li> <li class="header__submenu-item"> <a href="/about/commission-members/current-previous-chairmen" class="header__submenu-link" data-drupal-link-system-path="node/3265">Current and Previous Chairmen</a> </li> </ul> </li> <li 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c1.3,0,2.4,1.1,2.4,2.4c0,1.3-1.1,2.4-2.4,2.4c-1.3,0-2.4-1.1-2.4-2.4C-39.2,26.4-38.1,25.3-36.8,25.3 C-36.8,25.3-36.8,25.3-36.8,25.3z"/> <rect x="-49" y="-1.7" class="st0" width="42.9" height="42.8"/> </svg> </div> <div class="header__menu-title">Tribal Relations</div> </a> </li> <li class="header__menu-item header__menu-item--toggle" aria-expanded="false"> <a class="header__menu-link header__menu-link--icon header__menu-link--toggle" href=""> <div class="header__menu-icon"> <svg class="icon icon--about" viewBox="0 0 44 44" xmlns="http://www.w3.org/2000/svg"><path d="M22 44c12.15 0 22-9.85 22-22S34.15 0 22 0 0 9.85 0 22s9.85 22 22 22zm0-1.5C10.678 42.5 1.5 33.322 1.5 22S10.678 1.5 22 1.5 42.5 10.678 42.5 22 33.322 42.5 22 42.5z"/><path d="M25.488 29.26a11.438 11.438 0 01-2.035 2.97 4.506 4.506 0 01-3.472 1.52 2.872 2.872 0 01-2.1-.693 2.229 2.229 0 01-.7-1.643 8.6 8.6 0 01.617-2.686l2.153-5.891c.159-.344.265-.709.316-1.084a.457.457 0 00-.149-.334.464.464 0 00-.334-.151c-.38 0-.794.295-1.244.885a9.349 9.349 0 00-1.009 1.584h-1.47a8.622 8.622 0 012.561-3.412 5.162 5.162 0 013.145-1.21 2.973 2.973 0 011.827.543c.468.33.74.87.726 1.443a5.379 5.379 0 01-.366 1.918l-2.6 6.992c-.155.37-.245.765-.267 1.166.004.146.06.286.159.394a.444.444 0 00.342.191 1.513 1.513 0 001.034-.533 9.63 9.63 0 001.337-1.97l1.529.001zm1.234-16.868a2.1 2.1 0 01-.642 1.542 2.153 2.153 0 01-3.07 0 2.129 2.129 0 01-.627-1.542 2.188 2.188 0 013.279-1.861c.32.186.587.45.776.768.194.331.292.71.285 1.093h-.001z"/></svg> </div> <div class="header__menu-title">About</div> </a> <nav class="header__megamenu"> <ul class="grid header__menu-items" columns="3"> <li class="col header__menu-item"> <span class="header__menu-link">What is FERC?</span> <hr class="hr--title header__menu-line"> <ul class="header__submenu-items"> <li class="header__submenu-item"> <a href="/what-ferc" class="header__submenu-link" data-drupal-link-system-path="node/2254">About</a> </li> <li class="header__submenu-item"> <a 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<li class="social-share__item"> <a class="social-share__link" id="share-print" href="#" data-url="https%3A%2F%2Fwww.ferc.gov%2Finterest-calculation-rates-and-methodology" data-title="Interest%20Calculation%3A%20Rates%20and%20Methodology"> <span class="social-share__icon"><svg class="icon icon--printer" viewBox="0 0 44 44" xmlns="http://www.w3.org/2000/svg"><path d="M36.667 16.619H42a2 2 0 012 2v16a2 2 0 01-2 2h-5.333v7.333H8.38V36.62H2a2 2 0 01-2-2v-16a2 2 0 012-2h6.381V1h28.286v15.619zm-1.572 0V2.571H9.952V16.62h25.143zM9.952 30.857v11.524h25.143V30.857H9.952zM37.19 23a1.571 1.571 0 100-3.143 1.571 1.571 0 000 3.143z" fill-rule="evenodd"/></svg></span> <span class="social-share__text">Print This Page</span> </a> </li> </ul> </nav> </div> </header> <article class="grid content__body" columns="4-2"> <div class="col content__body--main"> <p>The Commission, on a quarterly basis, publishes interest rates for oil, natural gas, and electricity for determination of refund purposes. The interest rates on this page as well as the archived rates are the same for oil, natural gas, and electricity. Please note that the interest rates for oil apply only as far back as 1983.</p> <ul> <li>Electric Interest Rates&nbsp;are Calculated in Accordance with&nbsp;<a href="https://www.ecfr.gov/cgi-bin/retrieveECFR?gp=1&amp;SID=cce1f1600061ef8d9199b38b4c2eb6e6&amp;ty=HTML&amp;h=L&amp;mc=true&amp;r=SECTION&amp;n=se18.1.35_119a">Section 35.19a</a>&nbsp;of the Commission's regulations. Section 35.19a, subsection (iii)(A) provides that “[t]he applicable average prime rate for each calendar quarter shall be the arithmetic mean, to the nearest one-hundredth of one percent, of the prime rate values published in the Federal Reserve Bulletin, or in the Federal Reserve's “Selected Interest Rates” (Statistical Release H. 15), for the fourth, third, and second months preceding the first month of the calendar quarter.” For example, the refund interest rate for the fourth quarter of a year (October 1 – December 31) would be calculated using the prime rate values published on June 30, July 31 and August 31.</li> <li>Gas Interest Rates&nbsp;are Calculated in Accordance with&nbsp;<a href="https://www.ecfr.gov/cgi-bin/text-idx?SID=cbfa6c6e3ce5f8ffe5ab7415be38f649&amp;mc=true&amp;node=se18.1.154_1501&amp;rgn=div8">Section 154.501(d)</a>&nbsp;of the Commission's regulations and its predecessors</li> <li>Oil Interest Rates&nbsp;are Calculated in Accordance with&nbsp;<a href="https://www.ecfr.gov/cgi-bin/text-idx?SID=cbfa6c6e3ce5f8ffe5ab7415be38f649&amp;mc=true&amp;node=se18.1.340_11&amp;rgn=div8">Section 340.1(c)(2)</a>&nbsp;of the Commission's regulations</li> </ul> <table class="Table"> <thead> <tr> <th><span><span><span><strong><span><span>Applicable Annual Quarter</span></span></strong></span></span></span></th> <th><span><span><span><strong><span><span>Annual Rate</span></span></strong></span></span></span></th> <th><span><span><span><strong><span><span>Monthly Rate<br> (Annual % / 365dx # days in month)&nbsp;1</span></span></strong></span></span></span></th> <th><span><span><span><strong><span><span>Monthly Rate<br> (Annual Rate / 12 Months)</span></span></strong></span></span></span></th> </tr> </thead> <tbody> <tr> <td>Fourth Quarter 2024</td> <td>8.50%</td> <td>Dec .0072</td> <td><span><span><span>.0071</span></span></span></td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Nov&nbsp;.0070</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Oct .0072</td> <td>&nbsp;</td> </tr> <tr> <td>Third Quarter 2024</td> <td>8.50%</td> <td>Sep&nbsp;.0070</td> <td>.0071</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Aug&nbsp; .0072</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Jul&nbsp; .0072</td> <td>&nbsp;</td> </tr> <tr> <td>Second Quarter 2024</td> <td>8.50%</td> <td>Jun &nbsp;.0070</td> <td>.0071</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>May &nbsp;.0072</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Apr &nbsp;.0070</td> <td>&nbsp;</td> </tr> <tr> <td>First Quarter 2024</td> <td>8.50%</td> <td>Mar &nbsp;.0072</td> <td>.0071</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Feb &nbsp;.0068</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Jan&nbsp; .0072</td> <td>&nbsp;</td> </tr> <tr> <td>Fourth Quarter 2023</td> <td><span><span><span>8.35%</span></span></span></td> <td>Dec .0071</td> <td><span><span><span>.0070</span></span></span></td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Nov .0069</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Oct .0071</td> <td>&nbsp;</td> </tr> <tr> <td>Third Quarter 2023</td> <td>8.02%</td> <td>Sep .0066</td> <td>.0067</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Aug .0068</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Jul .0068</td> <td>&nbsp;</td> </tr> <tr> <td>Second Quarter 2023</td> <td>7.50%</td> <td>Jun &nbsp; &nbsp;.0062</td> <td>.0063</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>May &nbsp; &nbsp;.0064</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Apr &nbsp; &nbsp; .0062</td> <td>&nbsp;</td> </tr> <tr> <td>First Quarter 2023</td> <td>6.31%</td> <td>Mar &nbsp; &nbsp; .0054</td> <td>.0053</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Feb &nbsp; &nbsp; &nbsp;.0048</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Jan &nbsp; &nbsp; &nbsp;.0054</td> <td>&nbsp;</td> </tr> <tr> <td>Fourth Quarter 2022</td> <td>4.91%</td> <td>Dec &nbsp; &nbsp; .0042</td> <td>.0041</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Nov &nbsp; &nbsp; .0040</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Oct&nbsp; &nbsp; &nbsp; &nbsp;.0042</td> <td>&nbsp;</td> </tr> <tr> <td><br> Third Quarter 2022<br> &nbsp;</td> <td>3.60%</td> <td>Sep &nbsp; &nbsp; &nbsp;.0030</td> <td>.0030</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Aug &nbsp; &nbsp; .0031</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Jul &nbsp; &nbsp; &nbsp; .0031</td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span>Second Quarter 2022</span></span></span></span></p> </td> <td><span><span>3.25%</span></span></td> <td> <p><span><span>Jun&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;.0027</span></span></p> </td> <td><span><span>.0027</span></span></td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span>May&nbsp;&nbsp;&nbsp; .0028</span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td><span><span><span><span>Apr&nbsp;&nbsp;&nbsp;&nbsp; .0027</span></span></span></span></td> <td>&nbsp;</td> </tr> <tr> <td><span><span><span><span><span>First Quarter 2022</span></span></span></span></span></td> <td><span><span>3.25%</span></span></td> <td>Mar&nbsp;.0028</td> <td>.0027</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Feb&nbsp;.0025</td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td>Jan&nbsp;.0028</td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span>Fourth Quarter 2021</span></span></span></span></p> </td> <td><span><span>3.25%</span></span></td> <td><span><span>Dec&nbsp;&nbsp;&nbsp;&nbsp; .0028</span></span></td> <td><span><span>.0027</span></span></td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span>Nov&nbsp;&nbsp;&nbsp;&nbsp; .0027</span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span>Oct&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .0028</span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span>Third Quarter 2021</span></span></span></span></p> </td> <td><span><span>3.25%</span></span></td> <td> <p>Sep&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;.0027</p> </td> <td><span><span>.0027</span></span></td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td><span><span><span><span>Aug&nbsp;&nbsp;&nbsp;&nbsp; .0028</span></span></span></span></td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td><span><span><span><span>Jul&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; .0028</span></span></span></span></td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span>Second Quarter 2021</span></span></span></span></p> </td> <td><span><span>3.25%</span></span></td> <td><span><span>Jun .0027</span></span></td> <td><span><span>.0027</span></span></td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span>May&nbsp; .0028</span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span>Apr&nbsp;.0027</span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>First Quarter 2021</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>3.25%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Mar .0028</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0027</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Feb&nbsp; .0025</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Jan .0028</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Fourth Quarter 2020</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>3.25%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Dec .0028</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0027</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Nov .0027</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Oct .0028</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Third Quarter 2020</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>3.43%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Sep .0028</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0029</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Aug .0029</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Jul .0029</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Second Quarter 2020</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>4.75%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Jun .0039</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0040</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>May .0040</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Apr .0039</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>First Quarter 2020</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>4.96%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Mar .0042</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0041</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Feb .0039</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Jan .0042</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Fourth Quarter 2019</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>5.42%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Dec .0046</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0045</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Nov .0045</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Oct .0046</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Third Quarter 2019</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>5.50%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Sep .0045</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0046</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Aug .0047</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Jul .0047</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Second Quarter 2019</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>5.45%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Jun .0045</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0045</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>May .0046</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Apr .0045</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>First Quarter 2019</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>5.18%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Mar .0044</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0043</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Feb .0040</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Jan .0044</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Fourth Quarter 2018</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>4.96%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Dec .0042</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0041</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Nov .0041</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p>Oct&nbsp;<span><span>.0042</span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Third Quarter 2018</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>4.69%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Sep .0039</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0039</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Aug .0040</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Jul .0040</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Second Quarter 2018</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>4.47%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Jun .0037</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0037</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>May .0038</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Apr .0037</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>First Quarter 2018</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>4.25%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Mar .0036</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0035</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Feb .0033</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Jan .0036</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Fourth Quarter 2017</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>4.21%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Dec .0036</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0035</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Nov .0035</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Oct .0036</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Third Quarter 2017</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>3.96%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Sep .0033</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0033</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Aug .0034</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Jul .0034</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Second Quarter 2017</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>3.71%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Jun .0030</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0031</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>May .0032</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Apr .0030</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>First Quarter 2017</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>3.50%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Mar .0030</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0029</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Feb .0027</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Jan .0030</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Fourth Quarter 2016</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>3.50%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Dec .0030</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0029</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Nov .0029</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Oct .0030</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Third Quarter 2016</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>3.50%</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Sep .0029</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0029</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Aug .0030</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Jul .0030</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>Second Quarter 2016</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>3.46%&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Jun .0028</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0029</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>May .0029</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Apr .0028</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td> <p><span><span><span><span><span>First Quarter 2016</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>3.25%&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>Mar .0028</span></span></span></span></span></p> </td> <td> <p><span><span><span><span><span>.0027</span></span></span></span></span></p> </td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Feb .0026</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> <tr> <td>&nbsp;</td> <td>&nbsp;</td> <td> <p><span><span><span><span><span>Jan .0028</span></span></span></span></span></p> </td> <td>&nbsp;</td> </tr> </tbody> </table> </div> <div class="col content__body--side"> <div class="content-card"> <h2 class="content-card__title">Quick Links</h2> <hr class="hr--title"> <div class="content-card__items"> <div class="content-card__item"> <ul class="content-card__sub-items content-card__sub-items--list"> <li><a href="/interest-calculation-rates-and-methodology/interest-rates-2020-2023">Interest Rates: 2020–2023</a></li> <li><a href="/interest-calculation-rates-and-methodology/interest-rates-2016-2019">Interest Rates: 2016–2019</a></li> <li><a href="/interest-calculation-rates-and-methodology/interest-rates-2012-2015">Interest Rates: 2012–2015</a></li> <li><a href="/interest-calculation-rates-and-methodology/interest-rates-2008-2011">Interest Rates: 2008-2011</a></li> <li><a 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