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Tennessee Department of Financial Institutions · TN

COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JUNE 9, 2026

June 9, 2026

Summary

Tennessee’s maximum effective formula rate of interest is set at 10.75% per annum, based on a 4% ceiling over the 6.75% weekly average prime loan rate published by the Federal Reserve on June 8, 2026. This rate, announced June 9, 2026, applies to all loans in Tennessee and remains in effect until the average prime loan rate changes. The announcement is a routine weekly action required under Chapter 464, Public Acts of 1983.

AI-generated summary · Aug 29, 2026. Verify with your compliance counsel before acting.

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NASHVILLE--Commissioner of Financial Institutions Greg Gonzales announced today that the maximum effective formula rate of interest in Tennessee is 10.75 percent per annum.

The rate is based on a ceiling of 4 percent over the weekly average prime loan rate of 6.75 percent as published by the Federal Reserve on June 8, 2026.

Commissioner Gonzales said the rate remains in effect until the average prime loan rate as announced by the Federal Reserve Bank changes.

Chapter 464, Public Acts of 1983, the legislation regulating interest rates in Tennessee, requires that the commissioner of Financial Institutions make an announcement weekly of the formula rate of interest.

Alica Owen
Public Information Officer
Tennessee Department of Financial Institutions
(615) 289-4738

Source: https://www.tn.gov/tdfi/news/2026/6/9/commissioner-gonzales-announces-weekly-formula-rate-june-9--2026.html

Common questions

What does "COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JUNE 9, 2026" cover?
Tennessee’s maximum effective formula rate of interest is set at 10.75% per annum, based on a 4% ceiling over the 6.75% weekly average prime loan rate…
Which agency issued this update?
This update was issued by Tennessee Department of Financial Institutions.
When was it published?
It was published on June 9, 2026.

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COMMISSIONER GONZALES ANNOUNCES WEEKLY FORMULA RATE JUNE 9, 2026 — Reglith