11. All four cards have a penalty rate of 23 . 90 percent, which is sixth highest on the list. 12. Banks'penalty rates , which are applicable to cheques, now stand at 19 . 50 per cent to 27 per cent. 13. The average penalty rate was 22.84 percent a year, or 8 points higher than the average rate for purchases. 14. Meanwhile, penalty rates were high. 15. Effective Monday, the discount rate was 19.5 percent, the Lombard rate 23 percent and the overnight penalty rate 27 percent. 16. Delaware's governor, Thomas Carper, said he expected the penalty rates to fall as recipients got used to the new system. 17. Borrowing at this penalty rate tends to exceed 500 million marks only when there is a shortage in the money market. 18. The average penalty rate was 22 . 84 percent a year, or 8 points higher than the average rate for purchases. 19. Lending to banking institutions under this new facility would be at penalty rates , fully collaterised and with a clear timeframe for repayment. 20. Effective Monday, the discount rate was 19 . 5 percent, the Lombard rate 23 percent and the overnight penalty rate 27 percent.