Resources in contemporary systems-on-chip (SoC) are shared between applications to reduce cost. Access to shared resources is provided by arbiters that require a small hardware implementation and must run at high speed. To manage heavily loaded resources, such as memory channels, it is also important that the arbiter minimizes over allocation. A Credit-Controlled Static-Priority (CCSP) arbiter comprised of a rate regulator and a static-priority scheduler has been proposed for scheduling access to SoC resources. The proposed rate regulator, however, is not straight-forward to implement in hardware, and assumes that service is allocated with infinite precision. In this paper, we introduce a fast and small hardware implementation of the CCSP r...