READY SIGNAL CONTROL DATA

Bank Prime Loan Rate

Why Use This Data Source In Your Models?

The prime loan rate is the interest rate charged by lenders to the most creditworthy corporate customers. The prime rate serves as the starting point for most other interest rates, so is indicative of interest rates in the US.

Bank Prime Loan Rate

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Automated Data Profiling

Ready Signal automatically profiles each data set and offers up suggested industry standard data science treatments to utilize with these data in your models.

Suggested Treatment:

The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Untransformed transformation, provides the best normality, the Order Norm variable will also perform well.

Grain Transformation:

Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.

Source:
Board of Governors of the Federal Reserve

Release:
Bank Prime Loan Rate

Units:
Percent, Not Seasonally Adjusted

Frequency:
Daily

Available Through:
09/29/2022

Suggested Treatment:

The data shows auto correlation and a non-normal distribution. The data should be differenced. While the Untransformed transformation, provides the best normality, the Order Norm variable will also perform well.

Grain Transformation:

Data is unable to be distributed by time or geography. The roll up method used is Weighted Average.

Auto Correlation Analysis:

Data shows auto correlation indicating a need for differencing

The ACF indicates 1 order differencing is appropriate.

Following first order differencing, no further differencing is required based on the differenced ACF at lag one of -0.50

Trend Analysis:

The Kwiatkowski-Phillips-Schmidt-Shin (KPSS) test, KPSS Trend = 2.19 p-value = 0.01 indicates that the data is not stationary.

Distribution Analysis:

The Shapiro-Wilk test returned W = 0.77 with a p-value =0.00 indicating the data does not follow a normal distribution.

A skewness score of -0.95 indicates the data are moderately skewed.

Hartigan's dip test score of 0.06 with a p-value of 0.00 inidcates the data is multimodal

Statistics (Pearson P/ df, lower => more normal)

No transform
53.20
Box-cox
NA
Log_b(x-a)
86.60
sqrt(x+a)
54.82
exp(x)
NA
arcsinh(x)
54.35
Yeo-Johnson
53.46
OrderNorm
53.39

Auto Correlation Function

Auto Correlation Function After Differencing

Partial Auto Correlation Function

Seasonal Impact

Seasonal and Trend Decompostion


Citation:

Board of Governors of the Federal Reserve System (US), Bank Prime Loan Rate [DPRIME], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/DPRIME, December 16, 2019.

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