Bank call loans

Bank call loans, primarily payable on demand, bear interest at various rates but not exceeding the broker call rate, which was 2.0% at December 31, 2014 (2.0% at December 31, 2013). Details of the bank call loans are as follows:



(Expressed in thousands, except percentages)
	2014			2013
Year-end balance	$	59,400		$	118,200
Weighted interest rate (at end of year)	1.22		%	1.28		%
Maximum balance (at any month-end)	197,000			266,300
Average amount outstanding (during the year)	108,235			164,434
Average interest rate (during the year)	1.26		%	1.25		%

Interest expense for the year ended December 31, 2014 on bank call loans was $1.4 million ($2.2 million in 2013 and $996,200 in 2012).