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> .qfGOto. 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.