Chart 1. The title is "Commercial Bank Net Interest Margins Fell Throughout the 1990s".

Between 1990 and 2003, both Net Interest Margins (NIMs) and Average Risk-Adjusted NIMs rose until 1992 before starting a long and steady decline to their lowest point in 2003. NIMs started at 4.37% in 1990, rose to 4.69% in 1992, and then began declining until 1999 when they reached a value of 4.36%. In 2000, there was a slight increase in value to 4.4% and then an average decline in value to their lowest value of 4.10% in 2003. Average Risk-Adjusted NIMs went through exactly the same shifts in value. Beginning at a value of 4.1%, they rose steadily until 1992 when they peaked at 4.44%. There was a steady decline in value to 4.24% in 1999 where they stayed at approximately the same value until 2000, followed by an average decline to 2003 with a value of 3.92%.