Usury Rate: The average coupon equivalent yield from the first auction of 26-week treasury bills in August 2004 was 1.774 percent. The maximum allowable interest rate for September is therefore 12percent. Compilations of the average coupon equivalent yields from past auctions of 26-week treasury bills and past maximum interest rates for June 1988-June 1999 appear on page 53 of the June 1999 Bar News. Information from January 1987 to date is available online.
September 2004