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Trust Certificate Rates: SBIC Participating Security Pools

The following table lists the historical trust certificate and treasury rates for the participating securities program.
Funding Date Trust Certificate Rate 10-year Treasury rate
2/22/95 8.200% 7.520%
5/31/95 7.245% 6.590%
8/30/95 7.350% 6.590%
11/29/95 6.700% 5.930%
2/28/96 6.670% 5.900%
5/22/96 7.440% 6.648%
8/28/96 7.350% 6.600%
11/26/96 6.900%* 6.180%
2/26/97 7.080%* 6.293%
5/28/97 7.310%* 6.720%
8/27/97 6.850%* 6.240%
11/25/97 6.510%* 5.810%
2/25/98 6.120%* 5.450%
8/26/98 6.250%* 5.420%
2/24/99 6.100%* 5.034%
8/25/99 7.540%* 6.140%
2/23/00 8.017%* 6.567%
8/30/00 7.449%* 5.729%
2/21/01 6.640%* 5.085%
8/29/01 6.344%* 5.004%
2/27/02 6.030%** 4.970%
8/28/02 5.199%** 4.309%
2/26/03 4.524%** 3.869%
8/27/03 5.136%** 4.461%
2/25/04 4.504%** 4.021%
8/25/04 4.754%** 4.221%
2/23/05 4.638%** 4.160%
8/24/05 4.940%** 4.225%
2/22/06 5.408%** 4.583%
8/23/06 5.681%** 4.871%
2/28/07 5.459%** 4.684%
8/22/07 5.788%** 4.720%
2/27/08 5.902%** 3.890%
8/27/08 5.944%** 3.846%
2/25/09 4.727%** 2.847%
09/23/09*** 4.233%*** N/A
03/24/10*** 4.108%*** N/A
09/22/10*** 3.215%*** N/A
03/29/11*** 4.084%*** N/A
09/21/11*** 2.877%*** N/A
03/21/12*** 2.766%*** N/A
09/19/12*** 2.245%*** N/A
03/27/13*** 2.351%*** N/A
09/25/13*** 3.644%*** N/A
03/26/14*** 3.191%*** N/A
09/24/14*** 3.015%*** N/A
03/25/15*** 2.517%*** N/A
09/23/15*** 2.829%*** N/A
03/23/16*** 2.507%***  N/A
09/21/16*** 2.051%*** N/A
03/29/17*** 2.845%*** N/A
9/20/17*** 2.518%*** N/A
3/21/18*** 3.187%*** N/A
9/19/18*** 3.548%*** N/A
3/20/19*** 3.113%*** N/A
9/25/19*** 2.283%*** N/A
3/25/20*** 2.078%*** N/A
9/23/20*** 1.034%*** N/A
3/24/21*** 1.667%*** N/A
9/22/21*** 1.304%*** N/A
3/23/22*** 2.938%*** N/A
9/21/22*** 4.262%*** N/A
3/22/23*** 5.168%*** N/A
9/20/23*** 5.688%*** N/A
3/20/24*** 5.035%*** N/A
9/25/24*** 4.380%*** N/A
3/26/25*** 4.963%*** N/A
9/25/25*** 4.532%*** N/A

*Plus additional 1% annual charge, for leverage committed on or after October 1, 1996. 
**Plus additional applicable annual charge (for leverage committed on or after October 1, 2001, annual charge may be different for each Federal fiscal year). 
***2/25/09 was the last pooling for Participating Securities; debenture rates are being used as substitutes for Participating Securities Trust Certificate rates in the calculation of Adjustments (see Part III-6 of the Participating Securities Distribution Worksheet).

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Effective: September 16, 2025
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Last updated September 24, 2025