10.

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, 2013 (2.0% at December 31, 2012). Details of the bank call loans are as follows:


(Expressed in thousands, except percentages)
	2013			2012
Year-end balance	$	118,200		$	128,300
Weighted interest rate (at end of year)		1.28	%		1.23	%
Maximum balance (at any month-end)		266,300			171,400
Average amount outstanding (during the year)		164,434			73,227
Average interest rate (during the year)		1.25	%		1.27	%

Interest expense for the year ended December 31, 2013 on bank call loans was $2.2 million ($996,200 in 2012 and $1.2 million in 2011).