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FEDERAL RESERVE statistical mlrnsr < Kn w B For Immediate Ffcgea December 16, ' 5 JAN 3 - I995 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 7-11,199 TABLE 1 Commercial and Industrial loans made by all commercial banks1 * FRB RESEARCH I IRPtPV Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) Weighted Average Maturity2 Made Under Standard Error4 Secured by Collateral Commitment Participation Mcs* Comncr Base Pricing RaeeS Days All C&l loans 1 Overnight 6 0.25 6.9 61.7 2.5 16 15 20 5.77 5.68 6.13 0.16 0.21 0.24 16.7 14.6 24.9 75.7 71.9 90.5 9.1 7.8 14.5 Foreign Foreign Domes: 144 128 156 7.02 6.55 7.36 0.13 0.16 0.19 38.4 26.1 47.2 71.2 69.0 72.7 8.1 10.4 6.3 Prime Other Prime 7.11 5.73 7.57 0.17 0.23 0.18 59.4 72.4 20.8 65.6 67.0 65.1 6.0 9.0 4.9 Prime Other Prime 56 6.37 0.14 32.7 67.7 6.1 Other 835 14 209 683 2,237 6,667 19,924 31 151 178 67 49 32 20 5.67 7.76 7.80 6.64 6.15 5.68 5.43 0.16 0.25 0.12 0.15 0.14 0.11 0.05 14.0 89.1 74.4 49.3 26.3 13.1 7.3 66.0 43.4 70.8 79.3 75.0 69.0 63.1 5.9 0.5 8.9 7.5 8.7 7.8 4.7 Other Other Other Other Other Other Other 244 26 201 674 2,031 6,723 26,385 126 173 181 178 151 139 75 7.36 9.11 8.60 8.31 7.85 6.92 5.98 0.19 0.03 0.05 0.10 0.16 0.32 0.27 59.2 81.9 76.9 74.3 59.1 55.6 43.6 70.1 85.7 88.9 89.9 81.6 75.7 44.3 6.5 1.8 6.0 6.9 10.5 5.1 5.4 7,276 7,150,915 5,707,387 1,443,529 1,445 2,095 649 9,622,138 4,025,487 5,596,651 222 209 233 8 Demand 7 9 Fixed rate 10 Floating rate 12,365,873 3,107,446 9,258,426 273 683 227 11 Total under one year Fixed rate By size ($1,000) 12 1-99 13 100-499 14 500 - 999 15 1000 - 4999 16 5000 - 9999 17 10000+ 18 Floating rate By size ($1.000) 19 1-99 20 100 - 499 21 500 - 999 22 1000 - 4999 23 5000 - 9999 24 10000+ 25 39,709.080 418 23,316,087 320,092 361,690 360,723 3,520,303 4,153,165 14,600,113 16,392,994 1,302,110 2,618,985 1,332,116 3,683,462 1,747,468 5,708,852 One month and under (excluding overnight) Fixed rate Floating rate Over one month and 5 under one year 6 Fixed rate 7 Floating rate Other 5.31 10,570,154 2 3 4 Weighted Average Effective3 Prime Prime Prime Prime Prime Prime Fed Fui Months 26 Total one year and over Fixed rate By size ($1,000) 27 1 -99 28 100-499 29 500 - 999 30 1000 + 31 Ftoating rate By size ($1,000) 32 1-99 33 34 100-499 500-999 35 1000 + 36 Loans made below prime 38 One month and under (excluding overnight) Over one month and 39 under one year 40 Demand 241 43 7.53 0.17 66.7 79.5 9.4 1,141,140 155,707 139,428 39,804 806,200 118 18 176 743 3,938 45 52 61 47 40 7.30 9.42 8.70 6.97 6.66 0.29 0.19 0.20 0.51 0.08 55.8 93.2 89.3 45.2 43.3 61.4 26.7 38.7 93.1 70.4 1.3 0.3 3.7 11.1 0.5 Other Other Other Foreign Other 3,956,930 187,669 543,322 355,859 2,870,081 345 25 219 671 3,537 43 43 40 33 44 7.59 9.21 8.42 8.15 7.26 0.16 0.10 0.12 0.06 0.34 69.8 84.6 80.5 69.7 66.9 84.7 60.3 84.3 85.9 86.2 11.8 2.6 9.0 10.0 13.1 Prime Prime Prime Prime Prime 7 41 Total under one year 42 Fixed rate 43 Floating rate 10,411,094 3,541 6,277,265 868 5.27 5.24 5.9 61.2 2.5 7.75 15 5.59 5.56 12.9 75.2 9.1 7.76 123 6.18 6.10 18.2 69.8 8.9 7,86 6.0 7.77 9,326 6,701,987 6,574,511 2,298 2,559 1,794 5.67 2,350 29,964,858 21,980,678 7,984,180 Prime Rate 9 Nominal 8 Days 10 37 Overnight 6 Prime 5,098,070 38 26 93 5.60 44.1 44.6 5.62 5.51 5.90 5.57 5.48 5.82 18.4 10.0 41.5 62.5 65.5 54.2 6.1 5.6 7.5 7.78 7.77 7.81 6.29 6.11 6.36 6.20 6.06 6.26 52.3 33.6 59.5 81.1 68.2 86.0 10.0 1.7 13.2 7.86 7.98 7.82 Months 44 Total one year and over 45 Fixed rate 46 Floating rate on the last page. Footnotes appear 2,436,248 678,560 1,757,688 696 296 1.452 43 39 45 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 7-11,1994 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 Effective3 Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans Other 8,310,689 6.9 59.6 3.2 4,907,688 3,726,359 1,181,329 3,531 4,627 2,021 17 16 20 5.76 5.72 5.89 0.14 0.11 0.24 15.3 14.4 18.3 76.0 70.3 94.0 10.9 8.8 17.4 Other Other Domestic 959 2,849 643 139 113 159 6.86 6.54 7.09 0.12 0.16 0.17 33.0 23.5 40.0 87.8 82.5 91.7 8.2 10.8 6.3 Foreign Foreign Prime 481 2,662 353 - 6.59 5.58 7.04 0.16 0.21 0.18 55.6 13.9 74.1 56.1 63.0 53.0 5.8 5.5 5.9 Fed Funds Other Prime 1,128 42 6.06 0.14 27.4 67.0 6.4 Other 4,922 31 244 695 2,223 6,972 19,397 21 120 56 56 38 21 17 5.60 7.41 6.78 6.61 6.17 5.65 5.42 0.13 0.23 0.16 0.19 0.14 0.07 0.05 11.6 71.9 50.2 49.9 24.6 13.4 6.8 65.2 65.0 76.2 85.0 73.0 63.9 63.2 5.5 0.5 2.4 5.6 5.1 6.0 5.5 Other Other Other Domestic Other Other Other 8,949,062 389,746 1,170,265 641,669 1,677,956 886,054 4,183,372 11 Total under one year Fixed rate By size ($1,000) 12 1-99 13 100-499 14 500 - 999 15 1000 - 4999 16 5000 - 9999 17 10000 + 18 Floating rate By size ($1,000) 19 1-99 20 100 - 499 21 500 - 999 22 1000 - 4999 23 5000 - 9999 24 10000 + 25 0.20 16,204,112 14,442 107,938 211,868 2,458,833 2,971,850 10,439,180 8 Demand 7 Fixed rate 9 10 Floating rate 5.32 25,153,174 Over one month and 5 under one year Fixed rate 6 7 . Floating rate - 7,254,436 2,233,979 5,020,457 One month and under (excluding overnight) Fixed rate Floating rate 8,686 4,680,361 1,992,411 2,687,950 1 Overnight6 2 3 4 Weighted Average Maturity2 Percent of Amount of Loans 471 35 205 671 2,034 6,458 26,311 115 170 166 159 139 124 86 6.89 8.87 8.51 8.16 7.46 6.40 5.94 0.19 0.07 0.06 0.06 0.13 0.29 0.27 56.0 81.5 76.6 70.2 44.3 41.5 53.5 70.4 90.9 90.9 91.5 89.4 74.1 51.0 7.9 0.9 5.4 8.3 12.3 8.3 7.4 Prime Prime Prime Prime Prime Foreign Fed Funds 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 + Loans made below prime One month and under (excluding overnight) Over one month and 39 under one year 40 Demand 742 43 7.31 0.15 63.1 87.1 12.7 381,798 6,532 34,924 24,062 316,279 798 30 260 748 3,412 40 44 51 49 38 6.61 9.21 7.82 6.94 6.40 0.28 0.33 0.28 0.49 0.36 39.3 82.1 70.4 39.0 35.0 78.3 47.1 84.1 93.5 77.1 0.7 0.0 0.0 3.7 0.5 2,621,974 45,766 309,838 242,825 2,023.545 735 32 239 666 4,230 43 29 34 33 47 7.41 8.60 8.40 8.15 7.14 0.13 0.09 0.08 0.06 0.33 66.6 89.9 77.2 66.8 64.4 88.3 88.1 89.8 85.3 88.5 14.5 4.9 7.2 9.9 16.4 7 41 Total under one year 42 Fixed rate 43 Floating rate Foreign Other Other Foreign Foreign Prime Prime Prime Prime Prime Prime Rate 9 Nominal 8 Days 10 37 Overnight 6 38 3,003,771 8,155,951 9,941 - 5.27 5.25 5.5 58.8 3.2 7.75 4,682,199 4,878 17 5.64 5.61 12.9 75.6 11.0 7.76 3,370,707 3,047 132 6.18 6.12 22.5 87.8 7.9 7.81 4,772.355 3,888 -- 5.58 5.49 48.7 36.4 4.6 7.76 20,981.212 15,522,787 5,458,426 5,100 5,755 3,853 33 20 97 5.57 5.49 5.80 5.52 5.46 5.71 19.7 9.2 49.6 62.1 64.1 56.5 6.0 5.2 8.5 7.77 7.76 7.79 6.25 6.06 6.30 6.14 5.98 6.18 53.3 27.0 59.4 85.8 75.5 88.2 13.4 0.3 16.5 7.87 8.05 7.82 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 1.566,468 298.447 1.268.022 2,636 1,688 3.038 47 41 49 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 7-11,1994 TABLE 3 Commercial and Industrial loans made by other banks1 Percent of Amount of Loans Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) Weighted Average Maturity2 Weighted Average Effective 3 Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Commcr Base Pricing Rate : Days All C&l loans 1 Overnight 6 2,259,465 4,556 - 5.28 0.30 7.2 69.6 0.1 Fed F One month and under 2 (excluding overnight) 3 Fixed rate 4 Floating rate 2,243,227 1,981,028 262,199 630 1,032 160 14 13 21 5.78 5.60 7.19 0.20 0.25 0.28 19.6 15.0 54.5 75.1 75.1 74.7 5.3 5.8 1.5 Foreig r Foreig Prime Over one month and 5 under one year 6 Fixed rate 7 Floating rate 4,941,777 2,033,076 2,908,701 129 110 146 149 143 153 7.17 6.55 7.60 0.16 0.20 0.23 43.5 28.7 53.9 55.5 55.8 55.2 7.9 10.1 6.4 Prime Other Prime 5,111,437 873,467 4,237,969 169 235 160 - - 7.84 6.12 8.20 0.19 0.29 0.19 64.9 38.4 70.4 79.0 77.0 79.4 6.2 18.0 3.7 Prime Other Prime 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 1000-4999 24 5000 - 9999 25 10000 + 14,555,906 200 82 6.90 0.16 41.7 68.9 5.7 7,111,974 305,649 253,752 148,856 1,061,470 1,181,315 4,160,933 289 14 197 667 2,270 6,006 21,383 51 151 225 83 71 56 29 5.83 7.78 8.23 6.68 6.11 5.77 5.46 0.19 0.26 0.08 0.31 0.17 0.21 0.09 19.3 89.9 84.7 48.3 30.3 12.5 8.3 68.0 42.4 68.5 71.3 79.6 81.9 62.8 6.7 0.5 11.7 10.1 17.1 12.3 2.5 7,443,932 912,364 1,448,719 690,448 2,005,506 861,414 1,525,481 155 24 197 677 2,029 7,020 26,590 141 174 189 196 162 192 49 7.92 9.21 8.67 8.46 8.18 7.46 6.09 0.21 0.05 0.08 0.16 0.22 0.40 0.60 63.1 82.0 77.1 78.2 71.6 70.0 16.5 69.9 83.5 87.3 88.4 75.1 77.4 25.7 4.7 2.2 6.4 5.6 9.0 1.8 0.0 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 + 2,094,299 123 43 7.84 0.19 71.9 68.6 4.6 Prime 759,342 149,176 104,504 15,742 489,921 83 18 159 735 4,372 47 53 65 43 41 7.64 9.43 9.00 7.01 6.82 0.33 0.20 0.11 0.91 0.42 64.1 93.7 95.6 54.8 48.6 52.9 25.8 23.6 92.4 66.1 1.6 0.3 5.0 22.3 0.5 Other Other Other Prime Prime 1,334,957 141.903 233,485 113,034 846,535 169 23 197 681 2,541 41 47 48 34 39 7.95 9.40 8.46 8.17 7.54 0.16 0.10 0.21 0.18 0.36 76.3 82.9 84.9 75.8 72.9 77.5 51.3 77.1 87.2 80.7 6.4 1.8 11.4 10.1 5.3 Prime Prime Prime Prime Prime Prime Foreign Other Prime Other Fed Fu'Zi Other Foreigr Prime Prime Prime Prime Prime Prime Foreign Months Days Loans made below prime 10 Prime Rate 9 Nominal 8 37 Overnight 6 2,255,143 7,622 - 5.27 5.20 7.1 69.6 0.1 775 One month and under 38 (excluding overnight) 2,019,788 2,165 13 5.47 5.43 13.0 74.4 4.8 7.76 Over one month and 39 under one year 2,906,558 474 114 6.17 6.08 13.2 48.9 10.0 7.91 40 Demand 7 1,802,156 1,148 - 5.90 5.89 31.9 66.1 9.9 7.77 41 Total under one year 42 Fixed rate 43 Floating rate 8,983,645 6,457,891 2,525,754 1,006 1,096 832 50 41 85 5.73 5.58 6.13 5.67 5.52 6.06 15.4 12.1 23.8 63.3 68.8 49.3 6.3 6.7 5.3 7.81 7.79 7.86 6.36 6.16 6.52 6.32 6.12 6.47 50.6 38.7 59.8 72.6 62.6 80.4 3.9 2.7 4.7 7.85 7.93 7.79 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 869,779 380,113 489,667 299 180 617 36 37 35 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. Historical data back to 1977 presented in the format of the current E.2 release are now available. 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.
