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FEDERAL RESERVE statistical release
FOR I M M E D I A T E R E L E A S E
D E C E M B E R 14, 1 9 9 0
E.2
S U R V E Y OF T E R M S OF B A N K L E N D I N G M A D E D U R I N G N O V E M B E R 5 - 9 , 1 9 9 0
COMMERCIAL AND INDUSTRIAL
L O A N S M A D E BY ALL C O M M E R C I A L
BANKS
1/
LOAN RATE i m c t H V
LOAN C H A R A C T E R I S T I C S
AMOUNT
OF L O A N S
($1,000)
WEIGHTED| W E I G H T E D I T
AVERAGE
A V E R A G E I A V E R A G E |STANDARDI
SIZE
($1,000) I M A T U R I T Y | E F F E C T I V E | ERROR I
2/|
3/I
4/1
DAYS
|
1
1
_j
INTEFTQUARTILE
RANGE
5/
L
'
P E R C E N T A G E OF A M O U N T
OF LOANS M A D E UNDER,
I MOST
| C § ^ N
|
T
(PRICING!
I COMMITMENT I PARTICIPATION I RATE
I
.!
I
1. ALL C & I L O A N S
9,662,879
5, 1 3 2
*
8.96
0.11
8 . 5 8 - 9 . 14
76.6
4.3
FED FUNUS
9,615,512
7,517,999
2,097,513
973
1, 1 9 2
587
18
18
18
9.21
9.06
9.75
0.09
0.10
0.28
8 . 6 7 - 9 . 51
8 . 6 7 - 9 . 48
8 . 7 3 - 1 0 . 51
83.0
81.2
89.3
7.0
7.4
5.2
OTHER
OTHER
DOMESTIC
OVER O N E M O N T H A N D
UNDER A YEAR
-FIXED RATE
-FLOATING RATE
11,129,241
5,004,619
6,124,622
160
172
152
145
112
173
10.14
9.85
10.37
0.22
0.24
0.26
8 . 9 1 - 1 1 . 30
8 . 9 5 - 1 0 . 81
8.81-11. 52
80.3
76.4
83.4
10.7
14.9
7.4
PRIHT
OTHEK
PRIME
DEMAND
8/
-FIXED RATE
-FLOATING RATE
11,821,829
2,010,662
9,811,168
197
353
181
*
*
*
10.53
9.33
10.77
0.18
0.28
0.18
9.25-11.57
8.52-9. 92
10.25-11. 63
80.7
79 .2
81.u
6.2
5.6
3.0
PRIME
OTHER
PRIME
TOTAL UNDER O N E Y E A R
-FIXED RATE
BY S I Z E ( # 1 , 0 0 0 )
1-24
25-49
50-99
100-499
500-999
1000+
-FLOATING RATE
BY S I Z E ( $ 1 , 0 0 0 )
1-24
25-49
50-99
100-499
500-999
1000+
42,229,460
299
59
9.77
0.14
8.72-10. 54
80.2
7.0
PRIME
24,196,158
192,991
100,429
158,689
662,706
470,892
22,610,450
563
7
33
9.21
12.54
11.51
11.64
11.05
10.17
9.08
0.11
0.20
0.27
0.26
0.35
0.22
0.11
8 . 6 3 - 9 . 50
1 1 . 5 1 - 1 3 . 29
1 1 . 0 0 - 1 2 . 57
11.07-12 68
1 0 . 3 3 - 1 2 . 01
9 . 1 1 - 1 1 ..02
8 . 6 0 - 9 38
78.2
26.3
24.2
31.0
51.0
77.8
80.1
7.3
190
651
6 ,480
32
129
128
132
111
70
28
OTHER
OTHER
PRIME
OTHER
OTHER
OTHER
OTHER
18,033,302
457,897
541,436
864,207
3,321,885
1,667,147
11,180,731
184
10
34
66
197
652
4 ,339
133
173
152
17e
15o
201
117
10.52
12.12
11.88
11.62
11.35
11.06
9.97
0.20
0.13
0.10
0.08
0.06
0.09
0.20
9 . 2 1 - 1 1 .57
1 1 . 4 6 - 1 2 .75
1 1 . 1 1 - 1 2 .56
1 1 . 0 0 - 1 2 ..19
1 0 . 5 2 - 1 1 .91
10.47-11 63
8 . 7 0 - 1 0 .93
82.8
76.2
79.7
84.6
86.7
88.5
81.1
6.5
6.4
PRIME
PRIME
PRIME
PRIME
PRIME
PRIME
PRIME
4,472,762
210
5b
10.82
0.15
10.00-11. 6 3
79.3
11.7
PRIME
1,303,664
186,228
170,640
21,984
924,811
119
19
187
661
4 ,085
62
54
143
50
49
10.46
12.30
11.28
11.10
9.92
0.28
0.18
0.21
0.29
0.33
9.11-11. 49
11.49-13 24
1 0 . 8 0 - 1 1 . 91
1 0 . 5 0 - 1 1 ..57
8 . 9 0 - 1 1 ..00
61.0
14.0
40.7
61.6
74.2
3,169,098
190,343
442,578
255,716
2,280,462
305
26
215
665
3 ,433
45
43
60
39
42
10.96
12.06
11.25
11.04
10.80
0.17
0.12
0.11
0.10
0.20
10.38-12
11.30-12
10.47-11
10.47-11
10.00-11
86.8
58.7
72.3
84.7
92.2
14.8
OVERNIGHT
7/
ONE MONTH AND UNDER
(EXCL O V E R N I G H T )
-FIXED RATE
-FLOATING RATE
02
I
TOTAL O N E Y E A R A N D O V E R
-FIXED RATE
BY S I Z E ( $ 1 , 0 0 0 )
1-99
100-499
500-999
1000+
-FLOATING RATE
BY S I Z E ( $ 1 , 0 0 0 )
1-99
100-499
500-999
1000+
MONTHS
TX75
OVERNIGHT
7/
8,895,731
8,455,158
6,098,468
3,907,308
TOTAL UNDER ONE YEAR
-FIXED RATE
-FLOATING RATE
27,356,665
21,126,152
6,230,513
SEE LAST PAGE FOR FOOTNOTES
1,162,938
590,555
572,383
360
285
496
i5:i
ills
I NOMINAL
I
9/
I
I
I
I
P
RATE
10/
10.00
75.8
5.0
8.91
8.55
10.00
83.1
7.3
9.04
8.73
10.08
86.8
12.3
8.70
10.09
68.3
4.3
8.92
8.90
8.58
8.55
8.67
10.03
10 01
10.08
80.8
7.3
7.9
4.9
9.15
9.09
9.20
8.84
8.83
10.16
10.14
10.18
86.7
89.0
84.3
42
ill
'933
J
TOTAL ONE YEAR AND OVER
-FIXED RATE
-FLOATING RATE
3.9
8.96
1,652
2
0.0
8.45
1,054
8/
4.5
137
617
DEMAND
01
.75
.73
.57
.91
2:1
17
4,824
OVER ONE MONTH AND
UNDER A YEAR
8.6
8.82
7,298
ONE MONTH AND UNDER
(EXCL OVERNIGHT)
0.8
2.7
3.8
7.6
1 LOAN *AYC (MWCENT) j
I
2. LOANS MADE BELOW PRIME 11/
0.0
3.0
0.5
12.5
5.4
7.4
j
(EFFECTIVE
I
3/
8.98
MONTH*
3TT
44
56
8.86
T
j
m
OTHER
OTHER
NONE
PRIME
DOMESTIC
PRIME
PRIME
PRIME
PRIME
PRIME
SURVEY OF TERMS OF BANK LENDING M A D E DURING NOVEMBER 5-9, 1990
TABLE 2
COMMERCIAL AND INDUSTRIAL LOANS MADE BY LARGE BANKS
1/
itiM
I
LOAN CHARACTERISTICS
AMOUNT
OF LOANS
C$1,000)
RATE
tPlkttui)
AVERAGE WEIGHTED WEWHTEb
SIZE
AVERAGE AVERAGE STANDARDI
C$1,000)1MATURITY EFFECTIVE ERROR
1
2/
3/
I
4/1
INTER-
1
J
QUARTILE
RANGE
5/
) MOST—F
ICOMMON I
I BASE
I
I P R I C I N G !
I COMMITMENT IPARTICIPATIONJ RATE
!
1
PERCENTAGE OF AMOUNT
OF LOANS MADE UNDER:
,
i
DAYS
1. ALL C & I LOANS
OVERNIGHT
7/
7,771,693
6,515
ONE MONTH AND UNDER
CEXCL OVERNIGHT)
-FIXED RATE
-FLOATING RATE
6,896,330
5,195,998
1,700,332
4,161
5,350
2,478
OVER ONE MONTH AND
UNDER A YEAR
-FIXED RATE
-FLOATING RATE
6,181,414
2,936,542
3,244,872
1,125
3,256
706
DEMAND
8/
-FIXED RATE
-FLOATING RATE
6,718,095
1,246,081
5,472,014
337
887
296
TOTAL UNDER ONE YEAR
-FIXED RATE
BY SIZE ($1,000)
1-24
25-49
50-99
100-499
500-999
1000+
-FLOATING RATE
BY SIZE ($1,000)
1-24
25-49
50-99
100-499
500-999
1000+
TOTAL ONE YEAR AND OVER
-FIXED RATE
BY SIZE ($1,000)
1-99
100-499
500-999
1000+
-FLOATING RATE
BY SIZE ($1,000)
1-99
100-499
500-999
1000+
9.04
17
18
16
m
0.18
8.66-9.19
71.1
4.8
FED FUNDS
0.11
8.67-9.52
8.67-9.51
8.69-10.47
81.4
78.0
91.9
1:1
5.6
OTHER
OTHER
DOMESTIC
13.6
19.3
8.4
FOREIGN
OTHER
PRIME
6.1
PRIME
DOMESTIC
PRIME
0.18
0.34
i?
158
9.79
0.26
0.27
0.41
8.79-10.54
8.98-10.20
8.64-10.81
90.1
87.0
93.0
10.29
9.07
10.56
l
0.31
0.29
0.30
8.94-11.46
8.41-9.45
9.75-11.57
73.5
III
27,567,532
976
43
9.55
0.19
8.70-10.47
78.5
7.3
OTHER
17,150,314
6,533
8,653
13,839
146,842
224,448
16,749,999
3 ,836
10
33
66
230
664
7 ,159
22
112
92
83
53
41
22
9.17
11.47
11.21
10.68
10.06
9.85
9.15
0.18
0.26
0.44
0.21
0.40
0.26
0.18
8.67-9.45
10.79-12.00
11.00-11.94
10.38-11.50
9.09-11.00
9.11-10.52
8.67-9.42
76.7
33.9
37.0
54.9
69.2
75.7
76.8
7,6
0.5
0.8
1.5
1.9
7.8
7.6
OTHER
PRIME
PRIME
PRIME
PRIME
OTHER
OTHER
10,417,218
95,545
125,306
251,836
1,089,944
628,414
8,226,173
438
11
34
67
201
663
5 ,184
109
179
162
158
160
161
102
10.17
11.60
11.53
11.42
11.12
10.84
9.91
0.32
0.18
0.13
0.12
0.06
0.07
0.37
8.77-11.29
10.75-12.19
10.75-12.13
10.75-12.00
10.47-11.63
10.47-11.50
8.68-11.02
81.6
83.4
89.9
90.8
89.3
91.8
79.4
6.9
0.6
1.1
2.3
4.5
9.7
7.3
PRIME
PRIME
PRIME
PRIME
PRIME
PRIME
PRIME
2,702,411
886
40
10 .57
0.26
9.42-11.57
92.1
12.1
PRIME
471,544
7,483
13,547
13,449
437,066
1,072
26
245
704
5,399
45
48
62
55
44
9
11
10
11
9
.60
.57
.30
.08
.49
0.51
0.33
0.23
0.28
0.65
8.36-10.96
10.69-12.46
9.73-10.51
10.47-11.44
8.36-10.77
89.0
38.5
60.7
71.9
91.2
4.5
2.5
14.4
0.0
4.4
OTHER
NONE
NONE
PRIME
OTHER
2,230,867
36,922
221,859
175,639
1,796,447
855
38
231
669
4,309
39
34
40
36
39
10
11
11
11
10
.78
.86
.24
.11
.67
0.27
0.17
0.12
0.12
0.31
10.00-11,85
11.02-12.55
10.47-11.85
10.47-11.73
10.00-11.63
92.8
79.4
83.7
86.7
94.8
13.8
7.2
11.5
18.6
13.7
PRIME
PRIME
PRIME
PRIME
PRIME
TK¥s"
| LOAN RATE (PERCENT) j
"I EFFECTIVE I NOMINAL
I
I
3 / 1
9 / 1
I
2. LOANS MADE BELOW PRIME 11/
10.00
69.5
5.8
16
8.88
8.52
10.00
80.3
5.7
4,711
123
9.07
8.77
10.00
90.1
13.4
2,576,793
2,749
*
8.79
8.57
10.00
55.8
3.5
19,803,187
15,123,677
4,679,510
5,342
5,780
4,292
21
100
!?
;}
8.57
8.58
8.56
10.00
10.00
II;!
10.00
10.00
10.00
94.6
96.8
93.1
ONE MONTH AND UNDER
(EXCL OVERNIGHT)
6,037,689
6,204
OVER ONE MONTH AND
UNDER A YEAR
4,152,477
DEMAND
8/
TOTAL UNDER ONE YEAR
-FIXED RATE
-FLOATING RATE
36
|
TOTAL ONE YEAR A N D OVER
-FIXED RATE
-FLOATING RATE
SEE LAST PAGE FOR FOOTNOTES
^RATE
10/
8.51
7,689
7/
1
8.88
7,036,229
OVERNIGHT
4.6
6.4
773,271
309,570
463,701
2,779
3,116
2,592
10.00
7.1
8.1
3.7
MONTHS
46
39
8:75
8.90
8.59
8.60
8.58
1!:?
10.3
S U R V E Y OF T E R M S OF B A N K L E N D I N G M A D E D U R I N G N O V E M B E R
5 - 9 , 1990
TABLE 3
COMMERCIAL AND INDUSTRIAL
1/
L O A N S M A D E BY O T H E R B A N K S
LOAN C H A R A C T E R I S T I C S
AMOUNT
OF L O A N S
($1,000)
I
I
1.
DAYS
P E R C E N T A G E OF A M O U N T I M O S T T
OF L O A N S M A D E U N D E R :
|COMMON I
I BASE
I
I
| PRICING I
I COMMITMENT I PARTICIPATION I RATE
I
LOAN RATE ( P E R C E N T )
L
A V E R A G E |WEIGHTED! W E I G H T E D ! I
SIZE
| AVERAGE! AVERAGE 1 STANDARD I
( $ 1 , 0 0 0 ) 1 M A T U R I T Y | E F F E C T I V E ! ERROR
I
I
2/1
3/1
4/1
I
I
I
L
INTERQUARTILE
RANGE
5/
'
I
LJJ
ALL C & I L O A N S
FED FUNDS
1, 8 9 1 , 186
2, 7 4 0
*
8 .63
0.08
8 . 3 9 - 8 . 86
99. 5
2. 1
ONE MONTH AND UNDER
(EXCL O V E R N I G H T )
-FIXED RATE
-FLOATING RATE
2, 7 1 9 , 1 8 2
2, 3 2 2 , 001
3 9 7 , 181
330
455
137
20
19
23
9.29
9 .05
10 .68
0.13
0.10
0.23
8 . 6 1 - 9 . 50
8 . 5 7 - 9 . 46
9 . 3 3 - 1 1 . 58
87 .0
88. 5
78. 0
10. 1
11. 2
3. 9
OVER O N E M O N T H A N D
UNDER A Y E A R
-FIXED RATE
-FLOATING RATE
4, 947 8 2 7
2, 068, 077
2, 8 7 9 , 7 5 0
77
73
81
172
146
191
10 .58
.10 .00
10.99
0.32
0.39
0.27
9.08-11.76
8 . 8 7 - 1 1 . 57
1 0 . 4 7 - 1 1 .,85
68. 0
61. 5
72. 7
7. 1
8. 5
6 .1
PRIME
OTHER
PRIME
DEMAND
8/
-FIXED RATE
-FLOATING RATE
5, 103, 7 3 4
764, 580
4, 339, 1 5 4
128
178
122
*
X
X
10 .85
9 .76
11 .04
0.12
0.41
0.14
10.25-11. 63
8 . 8 4 - 1 0 .,47
1 0 . 4 7 - 1 1 ..63
90. 2
75. 3
92. 9
5. 0
0.4
5. 8
PRIME
OTHER
PRIME
14, 6 6 1 , 9 2 8
130
95
10 .18
0.08
8 . 7 9 - 1 1 . 43
83. 3
6. 3
PRIME
7, 045, 8 4 4
186, 459
91, 776
144, 8 5 0
515, 8 6 4
246, 4 4 4
5, 860, 451
183
6
33
62
181
640
5 098
55
129
129
134
123
93
44
9 .29
1 2 .57
11 .54
11 .73
11 .33
10 .47
8.86
0.14
0.16
0.29
0.34
0.12
0.37
0.13
8 . 4 9 - 9 .,53
1 1 . 5 7 - 1 3 ,.31
1 1 . 0 7 - 1 2 ,.57
1 1 . 3 0 - 1 2 .75
1 0 . 5 0 - 1 2 .19
9 . 1 1 - 1 2 .06
8 . 4 5 - 9 .11
82. 1
26 .1
23. 0
28. 7
45. 8
,6
79 ,
89..4
6. 8
0.,0
3. 3
0. 4
15. 5
3. 3
6. 6
OTHER
7, 616 0 8 4
362, 3 5 2
416,,130
612,,371
2,,231,,941
.038,,732
11
2,,954,,558
102
9
35
66
195
646
2,,984
170
173
151
178
157
220
164
11 .00
12 .26
11 .98
11.70
11 .46
11 .19
10 .15
0.14
0.07
0.06
0.07
0.06
0.15
0.17
10.47-11
11.57-12
11.36-12
11.03-12
10.75-12
10.47-12
9.14-10
.5
.3
.7
.5
.5
.8
5.
.8
0,.8
3 .2
4 .4
9 .2
7 .9
3 .9
PRIME
PRIME
PRIME
PRIME
PRIME
PRIME
PRIME
1, 7 7 0 , 351
97
11 .19
0.13
1 0 . 4 7 - 1 1 ..91
59.,7
11.,0
PRIME
832, 120
178, 746
157, 0 9 4
8, 5 3 5
487, 7 4 5
79
19
183
602
3,,354
71
54
150
43
53
10
12
11
11
10
.95
.33
.37
.14
.31
0.20
0.17
0.20
0.71
0.27
9 . 9 6 - 1 1 ,.63
1 1 . 4 9 - 1 3 ,.24
11.02-11.91
1 0 . 5 7 - 1 1 .57
9 . 1 1 - 1 1 .35
45.,1
13,,0
39..0
45..4
58.,9
938, 231
153,,421
220,,719
80,, 076
484,,015
121
24
201
658
1,,957
58
46
80
45
11.40
12.11
11 .27
10 .90
11 .31
0.16
0.11
0.18
0.17
0.27
10.52-12
11.30-12
10.47-11
10.50-11
10.52-12
.13
.75
.63
.57
.19
72.,5
53.,7
6 0 .8
80..3
82.6
OVERNIGHT
7/
TOTAL UNDER O N E Y E A R
-FIXED RATE
BY S I Z E ( $ 1 , 0 0 0 )
1-24
25-49
50-99
100-499
500-999
1000+
-FLOATING RATE
BY S I Z E ( $ 1 , 0 0 0 )
1-24
25-49
50-99
100-499
500-999
1000+
|
MONTHS
TOTAL O N E Y E A R A N D O V E R
-FIXED RATE
BY S I Z E ( $ 1 , 0 0 0 )
1-99
100-499
500-999
1000+
-FLOATING RATE
BY S I Z E ( $ 1 , 0 0 0 )
1-99
100-499
500-999
1000+
1
1
64
DAYS
|
I L O A N ,;ATE ( P E R C E N T )
1
|
1 E F F E C T I V E 1 NOMINAL
9/
3/
{
I
1
1
1
.80
.75
.68
.19
.13
.13
.93
84
74
" 76
82
85
86
85
.0
4,.1
6..3
3 .6
0. 0
3 .4
17
3
16
7
23
.2
.4
.4
.4
.5
PRIME
RATE
10/
2. L O A N S M A D E B E L O W P R I M E 11/
1,,859,,502
6,,121
X
8. 59
8.,24
10.00
99 .6
2 .2
ONE MONTH AND UNDER
(EXCL O V E R N I G H T )
2;,417;,469
3 ,101
19
8. 97
8 ,61
10.01
90 .0
11 .4
OVER O N E M O N T H A N D
UNDER A YEAR
,
,991
1, 945,
216
168
8. 98
8 .65
10.24
7 9 .7
9 .9
DEMAND
8/
1 ,330,,516
481
X
9. 30
8 .95
10.26
9 2 .4
5 .7
TOTAL UNDER O N E Y E A R
-FIXED RATE
-FLOATING RATE
7 ,553 ,478
6 ,002.,475
1 ,551,,003
588
827
278
60
45
167
8. 9 4
8.82
9. 39
8 .59
8 .48
9 .01
10.11
10.05
10.33
90 .2
88 .3
97 .3
7 .7
7 .5
8 .6
389 ,666
2 8 0 ,985
108 , 6 8 2
132
142
111
9. 7 5
9. 47
10. 50
9 .34
9 .07
10 .03
10.48
10.30
10.92
71 .0
80 .5
46 .6
12 .7
9 .9
19 .9
OVERNIGHT
7/
|
TOTAL O N E Y E A R A N D O V E R
-FIXED RATE
-FLOATING RATE
SEE LAST P A G E FOR
FOOTNOTES
MONTHS
66
42
129
j
DOMESTIC
DOMESTIC
PRIME
OTHER
OTHER
OTHER
OTHER
PRIME
FED F U N D S
PRIME
OTHER
NONE
PRIME
PRIME
PRIME
PRIME
PRIME
PRIME
PRIME
Table 4
' LOAN# TO
Size class of loans (thousands)
all »i?es
' ALL BANKS
Amount of loans (thousends)
Number of loans
Weighted average maturity (months)2
91-9
110-24
$25-49
WO w
9280 snd over
9100-249
$1,949,950
55,956
8.5
$126,966
34,346
6.5
$157,314
10,440
8.9
$190,582
5,373
7.9
$227,14.1
3,351
14.2
$220,261
1,544
27.4
*1,027,647
905
3.5
11.51
.67
10.52-12.19
12.53
.22
12.01-13.01
12.31
.38
11.63-12.89
12.15
.32
11.57-12.75
11.88
• 19
11.35-12.47
11.67
.30
11.00-12.19
1J* 03
1.25
1 0 . 5 2 - 1 J . 85
11.62
12.23
11.74
12.35
11.50
10.78
12.56
12.83
12.45
12.67
12.51
12.51
12.22
12.41
U.32
12.53
11.82
12.47
12.01
12.49
12.27
12. 28
11.50
12.21
11.45
1 2 . 18
11.60
11.61
12.24
11.46
11.40
1.1.85
1J.09
*
11.29
12.16
11.31
10.52
58.5
63.0
54* 4
51.8
48.6
54.4
55. J
60.3
57.9
53.3
85.7
69.6
55.4
66.9
33.2
8.4
25.7
2.3
6.6
23.9
10.5
12.5
64.2
6.6
1.7
4.6
17.2
13.5
45.7
10.0
6.8
6.9
32.2
8.3
38.1
5.9
6.1
9. 4
41.5
16.1
17.4
9.1
12.2
38. J
13.4
27.5
0
0
8.6
35.5
4.3
17.0
0
0
37.4
Amount of loana (thousands)
Number of loans
Weighted eversge maturity (months)2
$1,192,264
9,480
3.7
$15,505
3,850
7.1
$31,472
2,091
7.0
$44,314
1,260
7.9
$61*036
903
8.*
$110,501
721
7.4
*929,429
654
2.6
Weighted average Interest rate (%)3
Standard error4
Interquartile range1
By purpoee of loan.
Feeder livestock
Other livestock
Other eurrent operating expenees
Farm machinery snd equipment
Farm real estate
Other
11.11
.65
10. 5 2 - 1 1 . 8 5
12.17
.21
11.58-12.75
11.92
.38
11.39-12.47
11.76
.28
11.20-12.19
11.(68
.10
1 1 . 0 7 - 1 2 . Ifl
11.33
.21
10.66-11.76
10.98
U12
10. 4 3 - 1 4 . 5 7
11.48
11.39
11.21
12.13
11.60
10. 59
12.17
12.17
12.19
12.69
11.70
12.09
11.94
11. 87
11.95
12.17
11.89
11.78
11.88
11.48
11.72
11.72
11.#1
11.59
11.51
11.26
11.13
*
11.70
11.66
11.39
11.14
11.42
f
11.00
e
$
10.52
61.4
68.9
83.5
80.8
84.4
77.8
90.7
81.6
87.7
75.7
95.0
82.4
63.2
65.1
34.7
2.0
22.8
.4
5.3
34.8
16.0
2.8
59.1
4.8
4.0
13.4
21.6
4.4
50.9
2.6
6.9
13.5
34.7
2.5
40.0
4 1 .J
7.0
34.4
7.8
13.7
*1.9
6.6
30.9
s
s
10.4
*
10.4
34.2
0
17.9
0
0
41.3
$757,686
46,479
14.4
$111,461
30,496
6.4
$125,843
8,348
9.2
*146,268
4,113
7.9
$166,106
2,4*4
15.4
$109,752
423
44.2
*98,257
251
32.8
12.14
.10
11.51-12.75
12.58
.05
12.08-13. 03
12.41
.04
11.83-12.97
12.27
.14
11.63-12.86
11.96
. 16
11. 4 6 - 1 2 . 4 7
12.01
.21
11.27-12.66
11.54
.52
t O . 7 2 - 1 2 . 19
11.88
12.37
12.37
12.37
11.40
12.38
12.65
12.85
12.48
12.67
12.84
12.75
12.31
12.45
12.42
12.55
1.1.81
12.92
12.06
12.57
12.44
12.31
12.04
12.22
11.60
I t . 73
0
0
0
0
0
0
0
0
0
0
0
53.8
53.6
50.4
47.7
39.6
48.5
44.6
53.8
47.0
#5.1
76.4
56.2
0
0
30.7
18.4
30.3
5.2
8.7
6.7
9.7
13.9
64.9
6.9
1.3
3.4
16.1
15.8
44.4
11.8
6.7
5.2
31.5
10.0
37.6
7.3
*
8.1
41.4
19.6
13.0
*
36.2
0
0
0
0
0
0
Weighted average interest rate (%)3
Standard error4
Interquartile range1
By purpoee of loan:
Feeder livestock
Other livestock
Other current operating expenees
Farm machinery and equipment
Farm real aetata
Other
Percentage of amount of loans:
With floating ratee
Made under commitment
By purpoee of loan:
Feeder llveetock
Other llveetock
Other current operating expenses
Farm machinery and equipment
Farm real eetate
Other
LABGBJEARM LENDERS !L
Percentage ef amount of loans:
With floating rates
Made under commitment
By purpoee of teen:
Feeder livestock
Other llveetock
Other current operetlng expenses
Farm machinery and equipment
Farm real eetate
Other
OTHER BANKS11
Amount ef teens (thousands)
Number of loans
Weighted everage maturity (months)8
Weighted everage Interest rate (%)3
Standard error4
Interquartile range*
By purpoee of loan:
Feeder livestock
Other llveetock
Other current operating expenses
Farm machinery and equipment
Farm real estate
Other
Percentage of amount of loans:
With floating rates
Made under commitment
By purpoee of loan:
Feeder llveetock
Other livestock
Other current operating expenses
Farm machinery and equipment
Farm real estate
Other
See latt page for notes to table#
•Fewer then 10 eemple loent
*
$
$
12.49
#
#
*
#
*
0
#
*
#
$
$
#
$
$
•
0
0
0
0
,
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. A sample of 250 banks
reports loans to farmers. The sample data are blown up to estimate the lending
terms at all insured commercial banks during that week. 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. Mortgage
loans, purchased loans, foreign loans, and loans of less than $1,000 are excluded
from the survey.Beginning in 1986, the survey of terms of bank lending to farmers
includes loans secured by farm real estate. In addition, the categories
describing the purpose of farm loans were expanded to include "purchase or improve
farm real estate."
In previous surveys, the purpose of such loans was reported
as "other.
1.
As of December 31, 1989, assets of most of the large banks were at least $7.0
billion. For all insured banks, total assets averaged $250 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 loan and weighted by loan size.
4.
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.
5.
The interquartile range shows the interest rate range that encompasses the
middle fifty percent of the total dollar amount of loans made.
6.
The most common base rate is that rate used to price the largest dollar volume
of loans. Base pricing rates include the prime rate (sometimes referred to as
a bank's "basic" or "reference" rate); the federal funds rate; domestic money
market rates other than the federal funds rate; foreign money market rates;
and other base rates not included in the foregoing classifications.
7.
Overnight loans mature on the business day after they are made.
8.
Demand loans have no stated date of maturity.
9.
Nominal (not compounded) annual interest rates are calculated from survey data
on the stated rate and other terms of the loans and weighted by loan size.
10. The prime rate reported by each bank is weighted by the volume of loans
extended and then averaged.
11. The proportion of loans made at rates below prime may vary substantially from
the proportion of such loans outstanding in banks' portfolios.
12. Among banks reporting loans to farmers (Table 4), most "large banks" (survey
strata 1 and 2) had over $20 million in farm loans, most "other banks" (survey
strata 3 to 5) had farm loans below $20 million.
