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FEDERAL RESERVE statistical reteaae 1391 lllfilw!;
E.2

For Immediate Release

SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 4-8,1991
TABLE 1
Commercial and Industrial loans made by all commercial banks1

December 11,1991

Loan Rate (percent)

Loan Characteristics

Amount
of Loans
($1,000)

Average
Size
($1,000)

Made Under

Weighted
Average
Effective 3

Standard
Error 4

Secured by
Collateral

Commitment

Participation

Most
Common
Base
Pricing
Rate 5

Days

All C&l loans
1 Overnight

Weighted
Average
Maturity 2

Percent of Amount of Loans

6

6,530,737

6,300

-

5.88

0.24

6.6

60.2

8.6

Fed Funds

One month and under
2
(excluding overnight)
3
Fixed rate
4
Floating rate

5,793,718
4,632,567
1,161,151

2,240
4,088
799

16
16
15

6.31
6.15
6.95

0.17
0.24
0.21

26.6
24.1
36.4

83.6
83.3
84.5

7.1
7.3
6.5

Other
Other
Prime

Over one month and
5 under one year
6
Fixed rate
7
Floating rate

6,511,228
2,661,556
3,849,671

472
1,076
340

141
109
163

7.09
6.36
7.59

0.15
0.22
0.16

47.0
30.8
58.1

85.1
80.8
88.0

12.8
10.1
14.6

Prime
Other
Prime

8 Demand 7
9
Fixed rate
10 Floating rate

11,976,358
2,193,495
9,782,863

346
1,375
296

7.39
5.99
7.71

0.15
0.21
0.14

61.8
23.1
70.5

71.2
83.0
68.6

9.2
30.0
4.6

Prime
Other
Prime

11 Total under one year
Fixed rate
By size ($1,000)
1-99
100 - 499
500 - 999
1 000 - 4999
5000 - 9999
10000 +
Floating rate
19
By size ($1,000)
20
1-99
21
100 - 499
22
500 - 999
23
1 000 - 4999
24
5000 - 9999
25
10000 +

30,812,040

592

54

6.81

0.14

40.3

74.1

9.5

Prime

16,018,355
54,683
195,485
274,904
2,841,805
3,194,643
9,456,835

2,567
20
237
682
2,294
6,593
18,245

27
126
76
48
35
21
25

6.05
9.35
7.50
6.63
6.42
618
5.83

0.21
0.10
0.16
0.15
0.09
0.09
0.10

17.9
64.1
50.7
35.8
31.2
17.6
12.6

73.4
50.0
75.9
79.2
81.8
72.5
71.1

11.4
1.3
6.6
11.3
9.8
9.3
12.7

Other
Prime
Other
Other
Other
Other
Fed Funds

14,793,685
918,329
1,939,772
1,101,852
3,401,497
1,961,525
5,470,709

323
28
203
678
2,074
6,706
22,807

129
166
160
151
127
104
123

7.62
8.96
8.67
8.38
7.91
7.41
6.76

0.14
0.07
0.05
0.10
0.13
0.28
0.29

64.6
80.9
76.9
67.5
61.3
61.0
60.3

74.9
79.9
84.9
85.5
85.8
85.3
57.9

7.4
1.9
4.3
7.7
10.0
9.8
6.7

Prime
Prime
Prime
Prime
Prime
Prime
Fed Funds

3,770,332

537

44

7.81

0.15

71.1

77.2

5.9

Prime

575,631
16,982
41,721
25,966
490,961

540
22
235
719
5,010

36
41
46
45
35

6.84
10.05
8.67
8.49
6.49

0.28
0.16
0.30
0.54
0.50

54.6
86.4
72.2
73.6
51.0

87.4
35.4
56.6
62.1
93.2

3.5
0.0
6.6
4.3
3.3

Other
Prime
Other
Other
Other

3,194,701
96,274
414,979
350,324
2,333,125

536
32
230
693
3,693

45
37
47
45
46

7.98
9.03
8.62
8.38
7.77

0.13
0.07
0.12
0.14
0.27

74.1
83.9
80.5
76.3
72.2

75.4
49.5
58.4
63.3
81.3

6.4
2.5
8.0
9.5
5.8

Prime
Prime
Prime
Prime
Prime

12
13
14
15
16
17
18

::

Months
26 Total one year and over
Fixed rate
27
By size ($1,000)
28
1 -99
29
100 - 499
30
500 - 999
31
1000 +
Floating rate
32
By size ($1,000)
33
1-99
34
100-499
35
500 - 999
36
1000 +

Prime
Rate 9

Nominal 6

Days

Loans made below prime 1 0
37 Overnight 6

6,335,564

7,156

—

5.81

5.64

5.0

59.1

8.8

7.72

One month and under
38
(excluding overnight)

5,238,889

4,746

15

6.05

5.88

22.8

82.6

6.4

7.78

Over one month and
39 under one year

4,081,364

2,724

115

6.06

5.92

35.1

86.5

12.7

7.74

5,692,173

3,131

—

5.89

5.81

45.2

58.9

12.7

7.81

21,347,990
15,219,464
6,128,526

4,024
4,753
2,914

35
25
91

594
592
5.97

5.80
5.78
5.84

25.9
15.8
50.9

70.0
72.9
62.8

10.0
11.5
6.4

7.76
7.75
7.80

1,472,962
439,330
1,033,632

1,961
2,335
1,836

6.26
6.09
6.33

6.15
6.03
6.20

54.0
48.9
56.1

80.2
94.9
73.9

5.8
3.5
6.8

7.79
7.87
7.76

40 Demand

7

41 Total under one year
42
Fixed rate
43
Floating rate

Months
44 Total one year and over
45
Fixed rate
46
Floating rate
Footnotes appear on the last page.




47
35
52

E.2

SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 4-8,1991
TABLE 2
Commercial and Industrial loans made by large banks1
Loan Rate (percent)

Loan Characteristics

Amount
of Loans
($1,000)

Average
Size
($1,000)

Weighted
Average
Maturity2

Made Under
Standard
Error 4

Secured by
Collateral

Commitment

Participation

Most
Common
Base
Pricing
Rate 5

Days

All C&l loans
1 Overnight

Weighted
Average
Effective^

Percent of Amount of Loans

6

5,682,128

6,692

—

5.89

0.19

5.8

58.6

9.7

Fed Funds

Floating rate

5,006,302
3,968,478
1,037,823

3.226
5,030
1,360

16
16
15

6.27
6.13
6.81

0.18
0.24
0.23

26.0
24.1
33.5

82.2
81.7
84.0

5.3
5.2
5.7

Other
Other
Prime

Over one month and
5 under one year
6
Fixed rate
7
Floating rate

5,055,846
2,000,993
3,054,852

865
2,418
608

134
108
151

6.97
6.25
7.45

0.15
0.18
0.17

48.1
33.1
57.9

87.4
83.8
89.8

14.5
10.3
17.2

Prime
Other
Prime

9,436,314
1,793,910
7,642,404

427
2,038
360

7.29
5.97
7.60

0.15
0.23
0.13

63.1
23.0
72.5

65.9
80.8
62.4

10.0
34.4
4.3

Prime
Other
Prime

2
4

One month and under
^excluding overnight)

8 Demand 7
9
Fixed rate
10 Floating rate
11 Total under one year
Fixed rate
12
By size ($1,000)
13
1-99
14
100 - 499
15
500 - 999
16
1 000 - 4999
17
5000 - 9999
18
10000 +
Floating rate
19
By size ($1,000)
20
1-99
21
100-499
22
500 - 999
23
1 000 - 4999
24
5000 - 9999
25
10000 +

25,180,589

830

48

6.71

0.13

39.8

71.8

9.9

13,445,509
18,110
116,945
203,155
2,229,267
2,529,969
8,348,064

4,019
24
235
687
2,273
6,579
18,633

25
122
57
41
33
20
23

6.03
8.90
7.53
6.68
6.45
6.17
5.83

0.18
0.21
0.15
0.17
0.13
0.12
0.11

17.5
57.9
46.8
38.3
30.4
17.8
13.0

72.2
51.9
78.4
78.6
83.0
71.7
69.2

11.7
1.7
4.5
7.8
8.5
9.4
13.5

Other
Prime
Other
Other
Other
Other
Fed Funds

11,735,080
518,822
1,168,412
726,840
2,613,260
1,708,801
4,998,945

434
28
205
678
2,151
6,737
23,558

116
165
148
138
126
93
108

7.49
8.87
8.62
8.30
7.83
7.44
6.80

014
0.11
0.09
0.14
0.17
0.26
0.28

65.3
80.4
75.0
66.4
61.0
64.3
63.8

71.4
72.8
81.1
83.4
83.8
85.2
56.1

7.8
1.8
3.5
8.1
9.9
10.5
7.4

Prime
Prime
Prime
Prime
Prime
Prime
Fed Funds

3,344,901

685

43

7.78

0.17

72.3

77.8

5.7

Prime

466,522
6,234
20,337
13,415
426,535

1,176
28
253
700
5,975

26
42
52
36
24

6.54
9.80
8.49
8.37
6.34

0.31
0.21
0.30
0.71
0.81

51.2
84.5
77.9
63.1
49.1

94.3
31.1
60.9
60.1
97.9

2.1
0.0
5.5
8.4
1.7

Other
Other
Other
Other
Other

2,878,379
68,741
337,152
308,425
2,164,061

641
34
235
694
3,702

46
37
48
46
46

7.98
8.96
8.58
8.36
7.80

0.14
0.13
0.15
0.15
0.27

75.7
85.8
81.2
79.1
74.0

75.2
44.9
55.7
63.6
80.8

6.3
2.1
9.2
8.4
5.6

Prime
Prime
Prime
Prime
Prime

Prime

Months
26 Total one year and over
Fixed rate
27
By size ($1,000)
28
1-99
29
100-499
30
500 - 999
31
1000 +
Floating rate
32
By size ($1,000)
33
1-99
34
100 - 499
35
500 - 999
36
1000 +

I

Loans made below prime 1 0

Prime
Rate 9

Nominal8 |

Days

37 Overnight®

5,522,430

7,470

—

5.82

5.66

3.9

57.5

9.9

7.71

One month and under
38
(excluding overnight)

4,599,641

5,147

15

6.05

5.88

23.3

81.1

4.4

7.77

Over one month and
39 under one year

3,362,187

3,621

109

6.07

5.92

38.1

87.1

13.6

7.72

40 Demand 7

4,829,994

4,137

—

5.88

5.79

50.6

51.8

13.6

7.82

18,314,252
12,915,661
5,398,591

4,911
5,575
3,822

33
24
77

5.94
5.93
5.96

5.80
5.78
5.84

27.4
15.4
56.0

67.4
71.3
58.1

10.2
11.6
6.7

7.76
7.74
7.79

6.24
6.02
6.33

6.13
5.97
6.19

55.3
49.2
57.9

79.1
97.3
71.6

5.8
1.6
7.5

7.77
7.88
7.73

41 Total under one year
42
Fixed rate
43
Floating rate

Months
44 Total one year and over
45
Fixed rate
46
Floating rate
Footnotes appear on the last page.




1,322,293
385,809
936,485

2,215
3,804
1,890

45
24
54

E.2

SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 4-8,1991
TABLE 3

Commercial and Industrial loans made by other banks1
Loan Rate (percent)

Loan Characteristics

Amount
of Loans
($1,000)

Average
Size
($1,000)

Weighted
Average
Effective^

Percent of Amount of Loans
Made Under

Standard
Error ^

Secured by
Collateral

Commitment

Participation

Most
Common
Base
Pricing
Rate 5

Days

All C&l loans
1 Overnight 6

Weighted
Average
Maturity 2

848,608

4,525

—

5.79

0.32

11.9

70.9

1.4

787,416
664,089
123,328

761
1,929
179

16
15
22

6.59
6.29
8.18

0.21
0.30
0.19

30.1
24.5
60.7

92.2
92.8
89.3

18.8
19.8
13.2

1,455,382
660,563
794,819

183
401
126

166
111
212

7.48
6.69
8.14

0.19
0.29
0.18

43.0
23.8
59.0

76.9
71.5
81.3

6.7
9.4
4.5

Prime
Other
Prime

8 Demand 7
9
Fixed rate
10
Floating rate

2,540,044
399,585
2,140,459

203
559
182

7.79
6.10
8.10

0.17
0.24
0.18

56.9
23.7
63.1

91.2
92.9
90.9

6.4
10.3
5.6

Prime
Other
Prime

11 Total under one year
Fixed rate
12
By size ($1,000)
13
1-99
14
1 00 - 499
15
500-999
16
1 000 - 4999
17
5000 - 9999
18
10000 +
Floating rate
19
By size ($1,000)
20
1-99
21
100-499
22
500 - 999
23
1000 - 4999
24
5000 - 9999
25
10000 +

5,631,451

260

83

7.24

0.16

42.8

84.6

7.4

Prime

2,572,845
36,573
78,541
71,749
612,538
664,674
1,108,771

889
18
239
667
2,374
6,647
15,771

39
128
104
68
45
26
36

6.20
9.58
7.46
6.49
6.33
6.24
5.88

0.22
0.14
0.28
0.26
0.11
0.26
0.17

20.0
67.2
56.5
28.8
34.3
16.8
9.3

80.1
49.1
72.1
81.1
77.6
75.8
85.6

9.6
1.2
9.7
21.2
14.5
8.9
6.8

Fed Funds
Prime
Other
Other
Fed Funds
Fed Funds
Foreign

3,058,605
399,507
771,360
375,013
788,238
252,723
471,764

163
29
200
676
1,853
6,502
17,047

186
167
173
181
137
202
286

8.12
9.08
8.75
8.52
8.19
7.19
6.31

0.20
0.05
0.05
0.20
0.12
0.58
0.97

62.0
81.6
79.8
69.5
62.0
38.1
22.8

88.3
89.1
90.8
89.6
92.4
85.8
77.2

5.6
2.1
5.6
7.0
10.3
5.3
0.0

Prime
Prime
Prime
Prime
Prime
Prime
Fed Funds

2
3
4

One month and under
(excluding overnight)
hlxed rate
Floating rate

Over one month and
5 under one year
6
Fixed rate
7
Floating rate

—

Fed Funds
Foreign
Foreign
Prime

Months
26 Total one year and over
Fixed rate
27
By size ($1,000)
28
1-99
29
100 - 499
30
500-999
31
1000 +
Floating rate
32
By size ($1,000)
33
1-99
34
100 - 499
35
500-999
36
1000 +

425,432

199

48

8.06

0.16

61.8

72.4

7.9

Prime

109,109
10,748
21,384
12,551
64,427

163
20
221
740
2,421

80
41
40
55
104

8.15
10.19
8.84
8.62
7.48

0.29
0.16
0.37
0.59
0.62

68.8
87.5
66.8
84.9
63.2

58.0
37.9
52.6
64.3
61.9

9.7
0.0
7.5
0.0
13.9

Other
Prime
Prime
Other
Other

316,323
27,534
77,827
41,898
169,063

216
28
209
687
3,578

37
35
42
36
34

8.03
9.22
8.81
8.50
7.36

0.15
0.11
0.10
0.16
0.35

59.3
78.9
77.9
55.4
48.6

77.3
60.8
70.1
61.4
87.3

7.3
3.6
2.7
17.6
7.5

Prime
Prime
Prime
Prime
Prime

Days

Loans made below prime 1 0

Prime
Rate 9

NomlnalS

37 Overnight 6

813,133

5,565

—

5.69

5.53

12.2

69.7

1.4

7.82

One month and under
38
(excluding overnight)

639,249

3,044

14

6.06

5.89

19.4

93.1

21.3

7.82
7.82

Over one month and
39 under one year

719,177

1,263

143

6.03

5.88

21.1

83.7

8.9

40 Demand 7

862,179

1,325

—

5.94

5.87

14.9

98.4

7.8

7.78

3,033,738
2,303,803
729,934

1,925
2,602
1,056

52
31
223

5.92
5.89
6.02

5.78
5.74
5.92

16.6
17.5
13.7

86.1
82.4
97.9

9.2
10.6
4.6

7.81
7.79
7.85

6.44
6.57
6.37

6.32
6.43
6.26

41.9
46.6
39.3

89.8
77.7
96.4

6.0
16.7
0.1

7.98
7.81
8.07

41 Total under one year
42
Fixed rate
43
Floating rate

Months
44 Total one year and over
45
Fixed rate
46
Floating rate
Footnotes appear on the last page.




150,669
53,521
97,148

976
617
1,438

61
117
30

|

NOTES
The Survey of Terms of Bank Lending to Business collects data on gross loan extensions made during the first full
business week in the mid-month of each quarter by a sample of 340 commercial banks of all sizes. The sample data
are used to estimate the terms of loans extended during that week at all insured commercial banks. The estimated
terms of bank lending are not intended for use in collecting the terms of loans extended over the entire quarter or
residing in the portfolios of those banks.
1. As of September 30,1990, assets of most of the large banks were at least $7.0 billion. For all insured banks,
total assets averaged $275 million.
2. Average maturities are weighted by loan size and exclude demand loans.
3. Effective (compounded) annual interest rates are calculated from the stated rate and other terms of the loans
and weighted by loan size.
4. The chances are about two out of three 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.
5. The most common base rate is that used to price the largest dollar volume of loans. Base pricing rates include
prime rate (sometimes referred to as a bank's "basic" or "reference" rate); the federal funds rate; domestic
money market rates other than the prime rate and federal funds rates; foreign money market rates; and other
base rates not included in the foregoing classifications.
6. Overnight loans mature on the business day after they are made.
7. Demand loans have no stated date of maturity.
8. Nominal (not compounded) annual interest rates are calculated from the stated rate and other terms of the
loans and weighted by loan size.
9. The prime rate reported by each bank is weighted by the volume of loans extended and then averaged.
10. The proportion of loans made at rates below the prime may vary substantially from the proportion of such
loans outstanding in banks' portfolios.

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