Bank call loans

Bank call loans, primarily payable on demand, bear interest at various rates but not exceeding the broker call rate, which was 3.25% at December 31, 2017 (2.50% at December 31, 2016). Details of the bank call loans are as follows:



(Expressed in thousands, except percentages)
	2017			2016
Year-end balance	$	118,300		$	145,800
Weighted interest rate (at end of year)	2.25		%	1.77		%
Maximum balance (at any month-end)	230,400			151,900
Average amount outstanding (during the year)	123,918			106,455
Average interest rate (during the year)	2.08		%	1.52		%

Interest expense for the year ended December 31, 2017 on bank call loans was $2.6 million ($1.7 million in 2016 and $1.5 million in 2015).