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.y,Qt GOVz> FEDERAL RESERVE statistical release w— • • f w v : For Immediate Release April 15, 1980 TABLE 1 SURVEY OF TERMS OF BANK LENDING SHORT-TERM COMMERCIAL AMD INDUSTRIAL LOANS (OTHBB THAI CONSTRUCTION AMD LAND DEVELOPMENT) MADE DUBINS FEB 4- 9, 1980 SIZE CLASS OF LOAN (IN THOUSANDS) $1,000 ALL SIZES AND OVER ALL BAIKS AMOOIT OF LOAMS (THOUSANDS) $9,941,371 I0BBEB OF LOA1S 137,355 WEIGHTED AVERAGE MATURITY (MONTHS) j / 2.5 $779,455 101,615 3.4 $491,198 14,923 3.3 $531,620 8,361 3.1 $1,729,070 9,906 3.3 15.69 WEIGHTED AVERAGE INTEREST BASE <%) 1 / ,15 STANDARD ERROR 1 / 14.93-16.48 INTEBQUABTILB RANGE 4 / 15.06 .30 13.65-16.99 15.54 .36 13.80-17.27 15.91 .27 14.99-17.43 16.23 16.35 15.53 15.40-17.27 15.73-17.01 14.84-16.21 50.2 47.9 24.9 18.9 19.9 10.7 39.2 29.0 43.3 37.2 57.9 50.0 60.1 61.4 34.7 52.4 52.2 27.7 48 LARGE BAIKS $5,787,459 ABOOIT OF LOABS (TBOOSilDS) 15,910 I0BBBB OF LOANS WEIGHTED AVEBAGE MATURITY (MONTHS) ] / $74,376 7,763 4.4 $80,341 2,425 4.6 $113,682 1,772 4.3 $501,139 2,486 3.9 $275,513 435 3.1 $4,742,407 1,030 1.5 15.64 WEIGHTED AVERAGE INTEREST BATE (%) 2 / .04 S T U D I E D ERROR £ / 14.84-16.25 IIIBBQOARTILB BARGE & / 16.83 16.96 .05 16.10-17.96 16.85 16.51 16.10-18.11 16.10-17.83 15.87—17.27 16.32 .04 15.75-16.99 15.44 .05 14.80-16.14 63.1 27.6 69.2 61.4 39.1 51.5 52.0 26.5 $1,227,931 7,419 3.1 $380,650 593 3.0 $1,011,457 493 3.6 P1BCBNTAGE OF AMOUNT OF LOANS: WITH FLOATING BATE MADE 01DBS COMMITMENT WITH NO STATED MATURITY PERCENTAGE OF ABOOIT OF L O A M : WITH fLOATXEG BATE BADE OB DEB C O H H I M E H T WITH HO STATED MATOBITI .06 18.0 .22 21.0 22.8 .06 .06 $656,163 1,028 3.0 .18 $5,753,864 1,523 1.9 .12 53.6 49.5 16.9 60.6 OTHBB BABES AMOUNT OF 101BS (THOOSABDS) $4,153,912 BOBBER OF L0AH3 121,445 WEIGHTED AVEBAGE HATOBITY (MONTHS) J / $705,079 93,852 3.3 $410,856 12,498 3.1 WEIGHTED AVERAGE INTEREST BATE <%) 1 / 15.76 STABDABD BBBOB £ / -14 INTERQUARTILE BAIGE £ / 15.11-16.99 14.88 .29 13.57-16.70 15.26 .35 13.65-16.99 15.66 16.12 14.99-17.27 15.40-17.27 .20 16.37 .17 15.56-17.01 15.28-16.59 15.3 35.1 24.1 18.3 37.9 32.8 23.1 53.4 44.7 18.4 55.8 59.1 31.6 57.1 53.4 33.2 FBBCBBXAGB OF AHOOHT O F LOABS: BITB FLOATING BATE BADE OHDEB COMMITMENT WITH BO STATED HATOBITY 54.2 53.4 26.8 44.7 40.1 22.2 16.8 10.0 54.3 16.7 68.8 63.2 53.1 21.6 $417,939 6,589 2.8 .26 15.96 BOTE: THE SOBVEY OF TBBBS OF BANK LENDING IS T A K E ! OF ABOUT 340 BANKS SELECTED TO BEPRESENT ALL SIZES OF BANKS. THE SAMPLE DATA ABB COLLECTED OVBB OBB BOSIBBSS WEEK ABD USED TO ESTIBATB LENDING TERMS AT ALL INSURED COMMERCIAL BANKS. SHORT TBBB LOABS HAVE OBIGIBAL MATURITIES OF LESS THAN OIB YEAR, AND LONG TERM LOANS HAVE MATURITIES OF ONE YEAR OR MORE. CONSTRUCTION ABD LABD DEVELOPBEET LOANS INCLUDE BOTH UNSBCUBBD AND LOANS SECURED BY REAL ESTATE. THUS, SOME OF TBB COBSTBUCTION AND LAND DBVBLOPBBBT LOANS WOULD BE REPORTED ON THE STATEMENT OF CONDITION AS REAL ESTATE LOANS AND T B E BBMAINDEB AS BUSINESS LOANS. A S OF 12/31/79, AVERAGE DOMESTIC ASSETS OF 48 LARGE BANKS HERE $10.5 BILLION AND ASSETS OF TBB SMALLEST OF THESE BABKS HEBE $ 2.1 BILLIOB. FOR ALL INSURED BANKS, TOTAL DOMESTIC ASSETS AVERAGED $97 BILLIOB. 1/ AVERAGE MATURITIES ARE WEIGHTED BY LOAB VOLUMES EXCLUSIVE OF LOANS WITH NO STATED MATURITY 2/ TBB APPBOZIHATE COMPOUNDED ANNUAL IITEBEST BATE ON EACH LOAN IS CALCULATED FROM SURVEY DATA ON THE STATED RATE AND OTHER TEBHS OF THE LOAB; THE!, I I COHPUTIIG THE AVEBAGE OF TBESE APPROXIMATE EFFECTIVE RATES, EACH LOAN IS WEIGBTED BY ITS DOLLAB ABOOIT. 2/ T H E CHANCES ABB ABOOT 2 OOT OF 3 THAT THE AVEBAGE BATE SBOBB WOULD DIFFER BY LESS THAN THIS AMOUNT FROM THE AVERAGE BATE THAT WOULD BE FOOHD BY A COMPLETE SOBVEY O F LEI D U G AT ALL BAIKS. 1/ THE IETEEQOAETILE RANGE SHOWS THE XHTBBEST BATE RANGE THAT BBCOBPASSBS THE MIDDLE FIFTY PERCENT OF THE TOTAL DOLLAR AHOOHT OF LOABS HADE. (DEMAND LOANS). .11 y ^ ^ FEDERAL RESERVE statistical release ? SURVEY OF TERMS OF 84UK LENDING *' 1 5 8 0 SHORT-TERM COMMERCIAL AMD INDUSTRIAL LOANS (OTHER THAR CONSTRUCTION AID LAUD DEVELOPMENT) BADE DURING FEB 4- 9, 1980 t SIZE CLASS OF LOAN (IN THOUSANDS) AND OfBP ALL BASKS AMOUNT OP LOANS (TBOUSANbS) 19,920,415 NUMBER OP LOANS 135.532 WEIGHTED AVERAGE MATURITY (MONTHS) j/ 2.5 $768,933 100,191 3.4 $485,280 14,735 3.K 1526,248 8,270 3.2 $1,709,993 9,789 3.3 $659, 6 fl 1,032 3.1 $5,770,349 1,515 1.9 WEIGHTED AVERAGE INTEREST RATE (%) 1/ 15.67 STANDARD ERROR 1 / INTERQUARTILE RANGE &/ 14.87-16.43 .16 15.06 .30 13.65-16.99 15.54 .36 13.80-17.27 15.91 .27 14.99-17.39 16.23 15.40-17.27 16.34 . 18 15.73-17.00 15.50 .13 14.84-16.21 50.8 47.8 25.6 19.0 19.8 10.7 39.4 29.0 43.6 37.2 22.9 61.0 18. 1 53.3 52.0 28.7 15,787,310 15,351 $71,516 7,393 4.5 $78,300 2,355 4.7 $111,052 1,724 4.4 $488,589 2,418 4.0 $278,962 438 3.2 $4,758,892 WEIGHTED AVERAGE INTEREST RATE (S) 1/ 15.61 STANDARD ERROR 2 / .07 INTERQUARTILE RANGE 1 / 14.84-16.25 16.81 16.95 16.10-17.96 16.82 .06 16.10-17.83 16.50 .05 15.87-17.27 16.31 • 04 15.75-16.94 15.41 .07 14.62-16.14 64.7 53.7 70. 1 63.2 PERCENTAGE OF ABOUNT OF LOANS: WITH FLOATING RATE HADE Oil DEB COMMITMENT WITH NO STATED MATURITY 48 LARGE BANKS * ABOUNT OF LOANS (THOUSANDS) NUMBER OF LOANS WEIGHTED AVERAGE 1ATURITY (MONTHS) I $1,000 ALL SIZES PERCENTAGE OF A800NT OF LOANS: WITH FLOATING BATE BADE UNDER COMMITMENT WITH NO STATED MATURITY 1/ 2.0 .07 16.10-18.11 .06 .21 58. 1 5<V» 0 21. 1 55.1 53.1 27.9 55.4 49.3 17.0 61.8 OTHER BANKS AMOUNT OF LOANS (THOUSANDS) $4,133,105 NUEBBR OP LOANS 120,181 WEIGHTED AVERAGE BATUBITI (BONTHS) 1/ $697,416 92,798 3.3 $406,980 12,380 3.1 WEIGHTED AVERAGE INTEREST BATE (%) J/ 15.77 STANDARD BBBOB 1/ .14 INTERQUARTILE RANGE 4/ 15.12-16.99 14.88 15.26 .35 13.65-16.99 15.66 16.12 13.57-16.70 14.99-17.27 35.0 24.1 18.3 37.9 32.8 23.1 PERCENTAGE OF ABOUNT OF LOANS: WITH FLOATING RATE MADE UNDER COMMITMENT WITH NO STATED MATURITY 44.7 40.2 22.3 .28 15.3 16.8 10.1 54.1 16.9 22.2 $415,197 6,546 2.8 .26 59.6 34.4 1,022 1.5 28.0 38.3 68.2 60.2 52.5 51.7 27.8 $1,221,405 7,371 3. 1 $380,650 593 3.0 $1,011,457 493 3.6 15.40-17.27 .20 16.37 .17 15.56-17.01 15.28-16.59 53.3 44.7 18.4 55.8 59.1 31.6 57.1 53.4 33.2 15.96 THE SURVEY OF TERMS OF BANK LENDING IS TAKEN OF ABOUT 340 BANKS SELECTED TO REPRESENT ALL SIZES OF BANKS. THE SAMPLE DATA ARB COLLECTED OVER ONE BUSINESS WEEK AND USED TO ESTIMATE LENDING TERMS AT ALL INSURED COMMERCIAL BANKS. S|OBT TERM LOANS HAVE ORIGIV1L MATURITIES OF LESS THAN ORE TEAR, AND LONG TERM LOANS HAVE MATURITIES OF ONE TEAR 01 MORE. CONSTRUCTION AND LAND DEVELOPMENT LOANS INCLUDE BOTH UNSECURED AND LOANS SECUBED BY REAL ESTATE. THUS, SOME OF THE CONSTRUCTION AND LAND DEVELOPMENT LOANS WOULD BE REPORTED ON THE STATEMENT OF CONDITION AS REAL ESTATE LOANS AND THE REMAINDER AS BUSINESS LOANS. AS OF 12/31/79, AVERAGE DOMESTIC ASSETS OF 48 LARGE BANKS VERB $.10.5BILLION AND ASSETS OF IBB SMALLEST OF THESE BANKS WEBB $ 2.1 BILLION. FOB AIL INSURED BANKS, TOTAL DOMESTIC ASSETS AVERAGED t 97 MILLION. 1/ AVERAGE MATURITIES ARB WEIGHTED BY LOAN VOLUMES EXCLUSIVE OF LOANS WITH NO STATED MATURITY (DEMAND LOANS). V THE APPROXIMATE COMPOUNDED ANNUAL INTEREST RATE OH EACH LOAN IS CALCULATED FROM SURVEY DATA ON THE STATED RATE AND OTHER TERMS Of THE LOAN; THEN, IN COMPUTING THE AVERAGE OF THESE APPROXIMATE EFFECTIVE RATES, EACH LOAN IS WEIGHTED BY ITS DOLLAR AMOUNT. 2/ THE CHANCES ARB ABOUT 2 OUT OF 3 THAT THE AVERAGE RATE SHOWN WOULD DIFFER BY LESS THAN THIS AMOUNT FROM TBB AVERAGE BATE THAT WOULD BE FOUND BY A COMPLETE SURVEY OF LENDING AT ALL BANKS. «/ THE INTERQUARTILE RANGE SHOWS THE INTEREST RATE RANGE THAT ENCOMPASSES THE MIDDLE FIFTY PERCENT OF THE TOTAL DOLLAR AMOUNT OF LOANS MADE. .11 c - LONG-TERM COMMERCIAL AND INDUSTRIAL LOANS TABLE 2 SURVEY OF TBBMS OF BANK LENDING (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE DURING FEB 4- 9, 1980 SIZE CLASS OF LOAH ALL SIZES (IN THOUSANDS) $1,000 $100-499 $500-999 AND OVER 20,016 32.3 $254,459 1,243 42.8 $120,692 186 50.9 $1,223,885 264 45.1 15.42 .42 14.00-16.94 15.40 .33 15.25-16.70 15.70 15.25-16.90 1.08 15.24 .71 15.25-15.86 20.0 29.0 46.0 72.9 76.5 74.9 79.3 80.7 48 LABGE BANKS AHOOVT OF LOANS (THOUSANDS) $1,094,534 10BBBB OF LOANS 2,576 WEIGHTED AVERAGE MATURITY (MONTHS) 1/ 47.2 $43,520 1,931 36.1 $74,720 342 46.3 $73,139 114 46.7 $903,154 190 47.8 WEIGHTED AVERAGE INTEREST RATE (%) 2 / 15.44 STANDARD ERROR £ / .08 IWTBRQOARTILB RANGE 4/ 15.25-16.11 16.78 .05 15.79-17.51 16.03 .04 15.25-16.75 16.07 .24 15.25-16.77 15.28 .08 15.25-15.86 80.3 80.4 64.9 57.9 80.3 79.5 85.8 84.5 80.6 81.2 OTHBB BANKS AHOUWT OF LOANS (THOUSANDS) $791,726 WUHBBR OF LOANS 19,134 WEIGHTED AVERAGE MATURITY (MONTHS) j / 37.7 $243,703 31.6 $179,738 902 41.3 $47,553 72 57.4 $320,732 74 . 37.4 WEIGHTED AVERAGE INTEREST RATE (%) 1 / 15.15 .23 STANDARD BRROR 1 / IWTEBQUARTILE RANGE 4/ 14.25-16.37 15. 18 .41 13.94-16.14 15.13 .33 15.25-16.36 15. 12 1.05 15.25-17.25 15.13 .70 15.25-16.25 31.8 70.2 62.2 60.1 75.8 79.4 ALL BANKS AHOOIT 0? LOANS (THOUSANDS) 11,886,260 •OMBBB OF LOANS 21,710 WEIGHTED AVERAGE MATURITY (MONTHS) 1 / 43.2 WEIGHTED AVERAGE INTEREST RATE (%) 2 / 15.32 .25 STANDARD EBBOR 1 / IKTBBtitABTILB RANGE & / 15.25-16.25 PBBCBWTAG* OF AMOUNT OF LOANS: WITH FLOATING RATE MADE UNDER COMMITMENT PBBCBNTAGE OF AMOUNT OF LOANS: WITH FLOATING RATE HADE UNDEB COMMITMENT PERCENTAGE OF AMOUNT OF LOANS: WITH FLOATING RATE MADE UNDER COMMITMENT $287,223 65.6 71.4 18,086 45.4 59.0 12.0 23.8 NOTES THE SPRVBY OF TERMS OF BANK LENDING IS TAKEN OF ABOUT 340 BANKS SELECTED TO REPRESENT ALL SIZES OF BANKS. THE SAMPLE DATA ABB COLLECTED OVER ONE BUSINESS WEEK AND USED TO ESTIMATE LENDING TERMS AT ALL INSURED COMMERCIAL BANKS. SHORT TERM LOANS HAVE ORIGINAL MATURITIES OF LESS THAN ONE YEAR, AND LONG TERM LOANS HAVE MATURITIES OF OWE YEAR OR ROBE. CONSTRUCTION AND LAND DEVELOPMENT LOANS INCLUDE BOTH UNSECURED AND LOANS SECURED BY REAL ESTATE. THUS, SOME Of T H E CONSTRUCTION AND LAND DEVELOPMENT LOANS WOULD BE REPORTED ON THE STATEMENT OF CONDITION AS REAL ESTATE LOANS AND THE REMAINDER AS BUSINESS LOANS. AS OF 12/31/79, AVERAGE DOMESTIC ASSETS OF 48 LARGE BANKS WERE $10.5 BILLION AND ASSETS OF THE SMALLEST OF THESE BANKS WERE $ 2.1 BILLION. FOR ALL INSURED BANKS, TOTAL DOMESTIC ASSETS AVERAGED $97 MILLION. 1/ AVERAGE MATURITIES ARB WEIGHTED BY LOAN VOLUMES. 1/ THE APPROXIMATE COMPOUNDED ANNUAL INTEREST RATE ON EACH LOAN IS CALCULATED FROM SURVEY DATA ON THE STATED RATE AND OTHER TERMS OF THE LOAN; THEN, IN COMPUTING THE AVERAGE OF THESE APPROXIMATE EFFECTIVE RATES,; EACH LOAN IS WEIGHTED BY ITS DOLLAR AMOUNT. 1/ THE CHANCES ARE ABOUT 2 OUT OF 3 THAT THE AVERAGE RATE SHOWN WOULD DIFFER BY LESS THAN THIS AMOUNT FROM THE AVERAGE RATE THAT WOULD BE FOUND BY A COMPLETE SURVEY OF LENDING AT ALL BANKS. 4/ JHE INTERQUARTILE RANGE SHOWS THE INTEREST RATE RANGE THAT ENCOMPASSES THE MIDDLE FIFTY PERCENT OF THE TOTAL DOLLAB H AMOUNT OF LOANS MADE. * M ; TABLE 3 SOBTIT OF TBBBS OP BANK LSWDI16 CO ItSTBUCTIOB AMD LAID DEVELOPMENT LOABS (SBCORBD ABO OBSEC3R1D ST BBAL 8 ST AT*) HADE DOBING FEB 4- 9, SIZE CLASS OF LOAB (IB THOUSANDS) $500 AND OVBB ALL SIZES ALL BABKS AMOUNT OF LOABS (THOUSANDS) 5855,64 0 BOBBBB OF LOABS 18,763 8SIGHTED AVERAGE SATURITY (MONTHS) 1/ 13.1 $102,387 11,371 17.5 $97,606 2,806 $178,002 2,6-45 $278,763 1,788 20.7 $198,877 152 14.5 WEIGHTED AVERAGE I*YEREST BATE (*) 2/ 15.79 STANDARD EBBOH 3/ .67 IBTEBQUABTILE BABGE 4/ 13.85-17:99 15.80 .36 14.08-17.45 14.47 .78 12.55-16.09 14.96 .64 13.80-16.10 16.80 .69 16.25-18.11 15.78 .96 13.50-18.01 26.5 93.1 18.4 99.4 78.4 16.5 99.0 69.2 35.4 94.7 42.4 82.2 PERCENTAGE OF ABOUBT OF LOABS: WITH FLOATING BATE SEGOBBD BY REAL ESTATE HADE UNDER COMMITMENT BADE FOB COBSTBOCTION 1-r# FAMILY SULTIFAMILY BOSSESIDEBTIAL BITE BO STATED MATURITY 39.3 95.4 60.6 100.0 54.2 5.3 40.4 9.0 48 LABSE BANKS ABOOBT OF LOABS (TBOOSABDS) $130,450 BTiHBBB OF LOANS 1,*59 WEIGHTED AVERAGE MATURITY (BOHTHS) 1/ 10.6 62.8 100.0 75. 6 3.0 21.4 7.2 4.5 2.8 100.0 100.0 100.0 8.6 22.0 34.7 9-1 56.1 88.7 2.7 4.2 74.1 4.0 4.8 10.8 92.5 68.7 100.0 36.0 3.8 60.3 13.4 $7,070 !?J $5,739 160 7.9 $13,154 186 7.5 $50,825 246 11.9 $53,662 45 16.09 .29 14.50-17.86 17.36 .24 16.57-18.54 17.09 .33 16.50-18.26 16.03 .38 15.34-17.83 15.41 .65 13.50-17.09 84.5 83.9 85.7 100.0 26.5 16.4 57.1 12.2 92.6 61.2 59.7 100.0 74.0 12.6 13.4 34.9 87.0 93.2 82.9 100.0 48.3 10.9 40.7 4.7 96.6 92.7 86.6 100.0 41.4 26.3 32.3 7.8 OTHBB BASKS ABOUBT OF LOANS (THOUSANDS) $725,190 NUMBER OF LOABS 17,304 WEIGHTED AVERAGE MATURITY (MONTBS) J/ 13.5 $95,317 10,550 18.0 $91,867 2,647 4.3 $164,848 2,459 2.4 $227,943 1,542 22.6 $145,215 107 15.9 WBIGBTBO AVBBAGE INTBBEST RATE (%) V 15.77 STANDARD BBBOB j/ .50 13. 85-17.99 INTERQUARTILE RANGE 4/ 15.78 .22 13.85-17.37 14.29 .73 12.49-16.09 14.79 .54 13.80-16.10 16.97 .57 16.36-18.13 15.91 .70 14.08-18.01 21.6 95.5 63.0 100.0 75.7 2.3 22.0 5.1 14.1 99.8 78.2 100.0 91.2 2.2 6.6 4.2 10.1 99.5 67.8 100.0 76.7 2.2 21.2 4.5 WEIGHTED AVERAGE ZNTEBBST RATE (X) J/ 15.94 STABOABD BBBOB 2/ j%4 INTERQUARTILE BANGS 4/ 15.25-17.86 PEBCBBTAGB OF ABOOBT OF LOANS: WITH FLOATING BATE SECURED BY B3AL ESTATE BADE UNDER COMMITMENT MADE FOB CONSTRUCTION 1-4 FASILY MULTXFAHILY NONRESIDENTIAL WITH BO STATED MATURITY PERCENTAGE OF ABOOBT OF LOANS: WITH FLOATING BATE SBCUBBD BY BBAL ESTATE BADE UNDER COMMITMENT BADE FOB CONSTBUCTIOB 1-4 FAMILY MULTIFAMILY NONRESIDENTIAL WITH BO STATED MATURITY 31.2 97.5 56.1 100.0 59.2 3.4 37.4 8.4 85.0 90.5 83.1 100.0 23.0 26. 1 51.0 11.9 24.3 95.7 33.3 100.0 37.3 5.4 57. 3 10.6 10.8 79.6 77.5 91.7 100.0 17.6 5.8 76.6 11.3 83.2 98.0 60.2 100.0 42.8 3.0 54.2 14.2 BOTE: THE SURVEY OF TERMS OF BANK LENDING IS TAKEN OF ASCOT 340 BANKS SELECTED TO REPRESENT ALL SIZES OF 3ANKS. THE SAMPLE DATA ARE COLLECTED OVER ONE BUSINESS WEEK AND $5BD 10 ESTIMATE LENDING TERMS AT ALL INSURED COMMERCIAL BANKS. SHORT TERM LOANS HAVE ORIGINAL MATURITIES OF LESS THAN ONE YBAB, AND LONG TERM LOANS HAVE MATURITIES OF ONE YEAR OR MORE. COBSTBOCTION AND LABD DEVELOPMEBT LOANS INCLUDE BOTH UNSECURED AND LOANS SECURED BY REAL ESTATE. THUS, SOKE OF THE CONSTRUCTION AND LAND DEVELOPMENT LOABS WOULD 3B BEPOBTED OS THE STATEMENT OF CONDITION AS REAL ESTATE LOANS AND THE REMAINDER AS BUSINESS LOABS. AS OF 12/31/79, AVERAGE DOMESTIC ASSETS OF 48 LABGB BANKS HERE $10.5 BILLION AND ASSETS OF THE SMALLEST OF THESE BABKS WERE $2.1 BILLION. FOR ALL INSURED BANKS, TOTAL DOMESTIC ASSETS AVERAGED $ 97 HELLION. 1/ AVERAGE MATURITIES ARE WEIGHTED BY LOAN VOLUMES EXCLUSIVE OF LOANS WITH NO STATED MATURITY (DEMAND LOANS). 2/ THE APPROXIMATE COBPOUBDBD ANNUAL INTEREST BATE ON EACH LOAN IS CALCULATED FROM SURVEY DATA ON THE STATED RATE AND OTHER TERMS OF THE LOAN; THEN, IN COMPUTING THE AVERAGE OF THESE APPROXIMATE EFFECTIVE RATES, EACH LOAN IS WEIGHTED BY ITS DOLLAR ABOUBT. 3/ THE CHANCES ARB ABOUT 2 OUT OF 3 THAT THE AVERAGE RATE SHOWN WOULD DIFFB8 BY LESS THAN THIS AMOUNT FROM THE AVERAGE RATE THAT WOULD BE FOUND BY A COMPLETE SURVEY OF LBBOIBG AT ALL BANKS. 4/ THE IBTEBQUABTXLS RANGE SHOWS THE IBTBBEST RATE RANGE THAT ENCOMPASSES THE MIDDLE FIFTY PERCENT OF THE TOTAL DOLLAR AMOUNT OF LOANS MADE. TABLE « SOBVEY OF TERMS OF BANK L LBll B K P LOAMS TO FABMBBS MADE DOB 1*5 FEB 4- 9, 1980 SIZB CLASS OF LOAN (ID THOUSANDS) $1-9 $10-24 $25-49 $50-99 $100-249 AND OVER SI ,142,204 63,677 7.2 1/ $149,134 41,030 8.1 $177,200 11,985 7.6 $184,658 5,443 6.6 $221,694 3,490 7.1 $195,259 1,485 8.3 $214,259 443 5.7 14.14 WBIG3TBD AVERAGE INTEREST RATE (X) 1/ STANDARD BBBO& 2 / .27 13. 39-15.03 INTERQUARTILE RANGE 4/ BY POBPOSE OF LOAN: FEEDER LIVESTOCK 14.41 OTHER LIVESTOCK 13.48 OTHER CURRENT OPERATING EXPENSES 14.28 FASH MACHINERY AND EQUIPMENT 13.00 OTHER 14.60 13.49 .35 12.89-14.37 13.58 .34 12.55-14.67 13.72 .42 13.21-14.28 13.76 .63 13.42-14.20 14.77 .40 13.65-15.75 15.25 1.21 13.90-16.36 13.35 14.19 13.52 13.17 13.35 12.99 14.81 13.31 13.10 13.52 • 14.OS 13.76 14.09 12.05 14.06 14.14 12.44 14.32 13.75 14.16 14.6* 15.40 14.73 14.02 16.39 14.79 15.86 16.5 27.5 4.0 18.6 5.4 25.1 4.9 24.0 6.9 20.2 26.0 29.0 45.7 44.6 26.5 10.4 41.4 9.0 11.0 13.4 9.4 50.5 14.3 12.1 16.3 9.3 38.8 21.6 13.5 25.2 11.6 33.2 13.3 9.2 32.2 25.2 28.8 3.3 8.9 24.7 41.2 61.0 5.7 5.9 39.3 ARGE BANKS 5/ $213,269 AMOUNT OF LOANS (THOUSANDS) NUMBSB OF LOANS . ' 3,332 WEIGHTED AVERAGE MATURITY (MONTHS) 1/ 5.6 $5,684 1,427 7.9 $11,038 749 7.0 $15,288 453 6.1 $18,456 287 5.7 $36,144 253 6.6 $126,660 164 5.0 15.20 .26 13.42-17.15 15.42 .22 13.72-17.23 15.67 .24 14.16-17.23 15.97 .33 14.20-17,52 16.22 .22 14.92-17.27 16.02 .47 15.28-16.82 IS. 71 lb.24 15.14 15.37 15.69 15. *9 14.91 15.51 1*5.04 16.52 16.76 15.11 15.71 16.62 16.86 >6.21 15.55 16.64 16.21 15.86 67.5 67.4 75.2 73.4 ALL BANKS AMOUNT OF LOANS (THOUSANDS) BOBBER OF LOANS WEIGHTED AVERAGE l U T O B m (MONTHS) SIZES PERCENTAGE OF AMOUNT OF LOANS: BITE FLOATING BATE MADE UNDER COMMITMENT BY POBPOSE OF LOAN; FEEDER LIVESTOCK OTHER LIVESTOCK OTBER CURRENT OPERATING EXPENSES FARM MACHINERY AND EQUIPMENT OTHER WEIGHTED AVERAGE INTEREST RATE (%) g/ 15.97 STANDARD BRROB 3/ .14 INTERQUARTILE RANGE 4/ 14. 92-17.00 BY PURPOSE OF LOAN: FEEDER LIVESTOCK 16.76 OTHER LIVESTOCK 15.44 OTHER CURRENT OPERATING EXPENSES 15.62 FARE MACHINERY AND EQUIPMENT 14.67 OTHER 15.97 PERCENTAGE OF AMOUNT OF LOANS: WITH FLOATING BATE MADE UNDER COMMITMENT BY POBPOSE OF LOAN: FEEDER LIVESTOCK OTHER LIVESTOCK OTHER COBBENT OPERATING EXPENSES FARM MACHINERY ANDiEQUIPMENT OTHER 66.3 69.5 37.0 53.8 42.5 57.3 53.4 61.1 59.4 66. 1 26.2 4.9 40.9 2.7 25.2 7. 1 7.1 60.8 6.4 18.7 12.7 7.6 54.4 5.1 20.2 11.5 8.9 51.6 7.8 20.2 25.4 11.2 46.7 $143,451 39,603 8.1 $166,162 11,236 7.6 $169,370 4,990 6.7 $20?,23 8 3,204 7.2 13.42 .22 12.89-14.25 13.45 .25 12.50-14.49 13.55 .33 13.21-14.24 13.56 .54 13.U2-14.20 13.28 14.12 13.46 13.14 - 13.22 12.85 14.73 13.69 13.06 13.30 14.01 13. 65 13.89 14.11 4.6 17.8 2.7 17.2 3.3 23.0 26.6 11.6 41.5 10.5 7.8 13.6 9.4 50.1 14.7 11.9 16.6 9.4 37.7 22.7 13.1 OTHER BANKS 5/ AMOUNT OF LOANS (THOUSANDS) $928,935 NUMBEB OF LOANS 60,544 WEIGHTED AVBBAGB S A T U M T Y (MONTHS) 1/ 7.6 WEIGHTED AVERAGE INTEREST RATE (%) 2/ 13.72 STANDABD ERROR 3/ .23 INTERQUARTILE RANGE 4/ 13. 16-14.28 BY PURPOSE OF LOAN: FEEDER LIVESTOCK 13.88 OTHER LIVESTOCK 13.29 13.98 OT..BB COBBENT OPERATING EXPENSES PABM MACHINERY AND EQUIPMENT 12.90 OT3BB • 13.57 PERCENTAGE OF AMOUNT OF LOANS: WITH FLOATING BATE MADE UNDEB COMMITMENT BI PURPOSE OF LOAN: FEEDER LIVESTOCK OTHER LIVESTOCK OTBER COBBENT OPERATING EXPENSES FABfl MACHINERY AND EQUIPMENT OTHER 16.42 16.51 14.86 , 14.66 15.50 " ' 11.2 26.4 11.8 31.5 * 20.0 32.0 40.8 ' *26.1 36.8 28*3 3159,115 ' 1,233 8.3 14.44 .33 13.65-14.93 587,599 276 7.5 14.12 1.11 13.65-13.69 13.95 14.52 * .• ' * 20.7 16.7 2.1 16.3 . 16.6 20.3 27.2 * 65.6 * 1/ THE 8SIGHTED AVERAGE MATURITY IS CALCULATED ONLY FOR LOANS KIT ON DEMAND ABB EXCLUDED). IN COMPUTING THE AVERAGE, EACH LOAN I 1/ THE APPROXIMATE COMPOUNDED ANNUAL INTEREST RATE ON EACH LOAN IS CALCULATED PR0.1 SURVEY DATA ON THE STATED RATE AND OTHER TERMS OF TUB LOAN; THEN, IN COMPUTING THE AVERAGE OF THESE APPROXIMATE EFFECTIVE RATES, EACH LOAN IS VSIGH180 BY ITS DOLLAR AMOUNT. 1/ THE CHANCES ARB ABOUT 2 OUT OF 3 THAT THE AVERAGE RATE SHOWN RFOULD DIFFER BY LESS THAN THIS AMOUNT FROM THE AVERAGE RATE THAT 800LD BE FOUND BI A COMPLETE SURVEY OF LENDING AT ALL BANKS. a/ THE INTBBQOABTILE RANGE SHOES THE INTEREST BATE RANGE THAT ENCOMPASSES THE MIDDLE FIFTY PERCENT OF THE TOTAL DOLLAR A10011 OF LOANS BABE. §/ MOST "LARGE BANKS" (SURVEY STRATA 1 TO 3) HAD OVER % 400 MILLION IN TOTAL ASSETS AS OF 9/30/78; THE SMALLEST BANK SURVEYED IN THIS GBOUP HAD TOTAL ASSETS OF $3F5 MILLION. 30ST "OTHER BANKS" (SURVEY STRATA 4 TO 6) HAD TOTAL ASSETS BELOW $400 MILLION; THE LARGEST BANK SURVEYED IN THIS GROUP HAD TOTAL ASSETS OF $432 MILLION. 3.0 3.0 32.8 NOTE: THE SOBfBT OF TBBSS OF BANK LBFDISS TO FARMEBS COVERS ABOUT 250 BANKS SELECTED TC REPRESENT ALL SIZES Of BASKS. THE SAMPLE DATA ABB COLLECTED OVER ONE BUSINESS WEEK AMD USED TO ESTIMATE LENDING TERMS K1 ALL INSURED COMMERCIAL BANKS. LOANS SSCORED BY REAL ESTATE, PURCHASED LOANS, FOREIGN LOANS, AND LOANS OP LESS THAN $1,000 ARE EXCLUDED FB01 THE SCSVEY. • FEBER THAN 10 SAMPLE LOANS. * A STATED DATE OF MATURITY (THAT IS, LOANS PAYABLE WEIGHTED a? ITS OCULAR AMOUNT. *
@FedFRASER