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FEDERAL f**L •v RESERVE s t a n stica I r e l e a s e • December 27, 1971 BANKS RATES ON SHORT-TERM BUSINESS LOANS 1/ November 1971 and August 1971 Jl'V Interest rate (per c e n t per annum)- $1,000Nov 1971 1971 Less 5.50 5.51 6.00 6.01 6.50 6.51 7.00 7.01 7.50 than"5.50 -5.99 - 6.49 r 6.99 - 7.49 and over T o t a l per cent T o t a l - D o l l a r amount* Total - Number of loans New York City 7 Other Northeast 8 North Central 7 Southeast 8 Southwest 4 Wilt C g l t t New.York City 7 Other Northeast 8 North Central 7 Southeast 8 Southwest 4 West Coast 1/ 2/ d o l l a r amount by a ze of loan $100.000-$499.999 $500.000-$999.999 Nov. Aug. Aug. 1971 1971 1971 1971 0.6 0.6 1.0 0.7 8.1 0.5 13.7 0.3 24.4 0.3 37.8 9.0 19.0 6.-8 18.4 19.7 11.7 21.7 6.0 10.7 6.1 8.1 7.4 10.4 5.7 6.8 4.2 8.8 4.0 5.3 6.3 7.8 2.2 5.2 15.9 22.2 11.1 16.0 $ 1 . 0 0 0 . 0 0 0 and over Nov. 1971 1971 0.8 21.0 35.0 7.4 >1.6 3.4 4.2 2.6 3.3 10.5 0.6 0.7 0.3 41.9 17.9 10.0 . 5.9 5.4 3.9 13; 3 0.7 0.5 2.7 8.1 6.8 4.7 5.3 8.3 8.8 54.0 0.6 0.1 0.4 7.5 4.2 5.4 3.0 12.6 7.2 58.9 0.7 1.9 7.2 7.7 15.9 6.6 9.7 6.3 10,9 32.7 8.6 11.1 11.3 11.2 11.3 38.2 100.0 100.0 100.0 100.0 looio 100.0 100.0 100.0 ' 100.0 3,263,161 100.0 3,052,273 27,504 100.0 26,203 273,700 100.0 263,727 589,350 565,385 19.946 425,419 379,208 -19J11 1,947,188 1,817,75a 2.925 - 697 622 0.6 0.2 ?:i 6.753 6.480 8.691 EIGHTH) AVERAGE Au RATES IN 1971 ,?.1 8.354 »/ Aug. «- 3.002 Nov. 6.18 6.5! 7.51 7.68 7.05 7.27 6.51 6.88 6.26 6.58 6.25 6.77 6.46 6.77 6.64 6.54 7.33 7.75 7.49 7.88 7.37 7.75 7.62 6.79 7.31 6.89 7.16 6.83 7.29 7.00 7.52 7.17 7.36 7.06 7.43 6.17 6.73 6.45 6.65 6.44 6.64 6.64 7.07 6.83 6.87 6.79 7; 11 5.99 6.46 6.13 6.39 6.27 6.65 6.37 6.81 6.45 6.62 6.74 6.55 6 . 0 1 .. 5.66 6.26 5.96 6.41 6.20 6.10 6.59 6.26 .6.81 6.65 6.92 6.63 6.61 .7.38 7.93 m 7.45 6;85 7.69 7.09 7.68 7.35 7.84 The w e i g h t s used In computing weighted average I n t e r e s t r a t e s November s u r v e y , t o g e t h e r wtth r e v i s e d average r a t e s f o r each w e i g h t s f o r e l s e of loan and geographic area are based on the whereaa t h # . p r e v i o u s weights were based on -the d o l l a r amounts » 8.06 J3S2L8.03 7.76 8.27 7.76 8.33 7.83 8.38 6.94 6.66 7.18 6.70 7.19 6.76 7.13 : ,l«b. 7.48 7.19 7.75 7.28 7.72 Feb. VM BUSIMSS Loans was r e v i s e d . 6.37 6.11 6.58 6.25 6.55 6.33 6.42 0.6 1.0 29.5 42.1 7.0 8.9 1.6 2.1 0.9 0.3 55.9 18.1 10.2 3.6 3.4 1.3 5.7 5.2 790 Ay*. 5.86 6.40 6.13 6.47 6.43 6.21 Beginning February 1971 the Quarterly Survey of I n t e r e s t Rates i June 1971 B u l l e t i n . * - D o l l a r amounti In thousanda. Percentage d i s t r i b u t i o n $10.000-$99.999 Aug. 1971 1971 1971 . 6.90 6.55 7.10 6.82 7.01 6.82 7.16 M"Y 6.05 5.82 6.22 5.97 6.12 6.19 6.10 5.93 - 6.27 .5.78 6.00 5.95 6.01 6.31 5.92 6.17 6.42 6.27 6.46 6.31 6.31 5.75 5.56 5.88. 5.78 6.05 5.87 5.91 6.35 6.18 6.40 6.54 6.55 6.25 6.32 Feb. 6.64 6.35 6.97 6.57 6.69 6.63 6.78 For d e s c r i p t i o n of r e v i s e d a e r i e s see pp. 468-477 of the on b u s i n e s s loans have been r e v i s e d . Average r a t e s compiled on the new baads for the of the t h r e e surveys conducted e a r l i e r t h i s y e a r , are shown in t h i s r e l e a s e The combined d o l l a r amounts of l o s n s reported In a l l four surveys conducted in 1971 1 o f ; l o s n s reported lft1 the February survey. & 93December 27 1971 BANKS RATES ON REVOLVING CREDIT BUSINESS LOANS 1/ November 1971 and August 1971- Interest rate ( p e r c e n t per annum) Less 5.-50 5.51 6.00 6.01 6.50 6.51 7.00 7.01 7.50 than 5.50 1971 0.1 100.0 100.0 1,080,426 847,245 17,644 - 7.49 and o v e r T o t a l - Number of l o a n s . I i,522 New York C i t y 7 Other N o r t h e a s t 8 North C e n t r a l 7 Southeast 8 Southwest 4 West C o a s t . 2/ 4.9 3.8 36.8 1.9 5.6 1.0 4 6.t) 5.98 6.31 7.24 „ 7.40 6.74 5.94 6.16 6.10 6.04 6.70 6.31 6.64 6.37 6.18 6.92 6.20 6.78 8.17 7.21 6.52 7.54 7.65 6.74 8.25 7.63 6.52 7.77 8.03 6.52 7.20 6.79 6.56 6.72 6.69 5.74 5.88 5.82 6.25 6.12 5.67 1971 • 0.3 0.2 0.3 18.3 8.1 19.5 10.7 1.7 35. 6 14,082 May 6.36 6.86 6.25 6.60 6.48 6.51 6.79 6.32 6.35 8.26 6.58 6.27 6.86 7.07 May 7.69 19^1 0.8 2.0 1.8 36.8 16.8 15.8 5.0 6.4 2.2 12.4 24.6 35.1 12.5 9.0 6.7 3.0 1.9 1.7 5.6 \0. 9 0.7 52.8 10.0 17.7 100.0 100.0 100.0 100.0, 100.0 100.0 86,308 66,807 101,575 75,981 873,905 689,231 6.16 6.74 7.67 7.12 6.57 6.90 7.13 $ 1 , 0 0 0 , 0 0 0 and oVer 1971 1.1 15.5 30.4 14.2 12.9 5.6 5.1 3.4 4.6 7.1 1.256 -221 247 391 495 373 WEIGHTED AVERAGE RATES IN 1971 ( p e r c e n t p e r annum) 2/ Aug. Aug. Nov.. May Beginning February J u n e 197l B u l l e t i n . 0.3 3.6 12.2 9.1 12.9 19.4 7.7 4.5 5.6 24.8 100.0 - 6.99 New York C i t y 7 Other Northeast 8 North C e n t r a l 7 Southeast 8 Southwest 4 West C o a s t 1971 33.4 18.9 12,7 4.5 3.7 1.1 1.1 3.3 - 5.99 T o t a l per c e n t 0.5 2.0 2.0 3.5 1.6 35.3 2.3 4.1 3.1 JSiL ' 0.2 0.8 51.6 16.0 19.1 1.6 3.7 0.3 6.3 21.1 - 6.49 T o t a l - D o l l a r amount* P e r c e n t a g e d i s t r i b u t i o n of d o l l a r amount by s i z e of l o a n $1.000-$9.999 $ 10.000-$99.999 $ 100.000-$499.999 $500.000-$999.999 Nov. 1971 2M_ L%_ 1.8 • 8.R 0.8 UL. 21.7 33.9 20.3 . 13.1 3.8 3.6 0.7 1.2 2.8 2.3 2.5 2.7 273 Aug. 6.49 6.01 6.36 5.94 6.28 6.33 6.47 6.26 7.31 6.41 5.85 6.30 5.93 6.25 6.63 5.94 6.28 6.86 6. 61 6.09 6.71 6.17 5.94 6.11 6.09 5.81 6.77 5.84 6.30 6.58 6/30 6.14 6.86 6.17 5.90 6.71 5.85 6.42 5.71 5.85 5.83 5.73 6.57 6.39 5.86 6.54 6.5 7 6.49 7.34 7.75 6. 66 6.02 6.15 6.22 6.30 6.57 6.10 ' 6.62 May 7.18 6. 65 6.89 7.85 8.03 6.55 6.31 6.67 8.00 7.00 8.02 7.23 7.17 8.27 7.16 1971 t h e Q u a r t e r l y S u r v e y of I n t e r e s t R a t e s on B u s i n e s s Loans was 1 v i s e d . Feb. 5.66 6.27 5.73 5.74 6.28 5.87 » 5.79 6.57 5.82 6. 18 6.28 6.08 6.61 6.65 5.69 5.80 6.42 5.61 For d e s c r i p t i o n of r e v i s e d s e r i e s s e e pp. 4 6 8 - 4 7 7 of t h e The w e i g h t s u s e d i n c o m p u t i n g w e i g h t e d a v e r a g e I n t e r e s t r a t e s on b u s i n e s s l o a n s have been r e v i s e d . A v e r a g e r a t e s c o m p i l e d on t h e new b a s i s f o r t h e November s u r v e y , t o g e t h e r w i t h r e v i s e d a v e r a g e r a t e s f o r each qf t h e t h r e e s u r v e y s c o n d u c t e d e a r l i e r t h i s y e a r , a r e shown in t h i s r e l e a s e The. new w e i g h t s f o r s i z e of l o a n and g e o g r a p h i c a r e a a r e b a s e d on t h e combined d o l l a r amounts of l o a n s r e p o r t e d i n a l l f o u r s u r v e y s c o n d u c t e d i n 1971, w h e r e a s t h e p r e v i o u s w e i g h t s were b a s e d on t h e d o l l a r amounts of l o a n s r e p o r t e d i n t h e F e b r u a r y s u r v e y . 21LAug. 6.30 6.24 6.60 6.46 6.12 6.47 6.25 % December 27, 1971 BANKS RATES ON LONG-TERM BUSINESS LOANS 1/ November 1971 and August 1-971 Interest rate ( p e r c e n t per annum) Less 5.50 5.51 6.00 6.01 6.50 6.51 7.00 7, 01 7.50 than 5.50 - 5.99 - 6.49 - 6.99 - 7.49 and o v e r P e r c e n t a g e d i s t r i b u t i o n of d o l l a r amount by s i z e of loan $500,000-$999.999 $ 100.000-$4 99.-99 9 $10.000-$99.999 $1.000-$9.999 1971 1.7 5.4 17.7 8.9 32.2 7.1 7.9 1.6 2.0 15.6 Aug. 1971 3.0 1.6 2.8 9.7 36.1 15.2 5.9 6.9 1.5 17.2 T o t a l per c e n t T o t a l - D o l l a r amount* 1971 11.7 3.5 10.2 4.2 48.8 0.7 4.7 1-1 5.8 1.8 15, 1 2.6 18.4 2.7 47.1 -3.7 4.8 3.8 11.4 10.2 13.6 3.5 6.9 4.1 38.0 100.0 100.0 100.0 5.9 7.6 5.3 3 To 1971 1971 W 5.0 3.7 14.0 8.8 14.7 1.9 48.4 1971 1971, 1.2 0.1 4.3 10.6 18.7 11,1 10.5 5.9 7.4 21.7 100.0 1.2 6.4 13.2 15.8 23.8 8.5 4.0 3.4 0.9 12.5 3.9 23.7 6.0 . ,14.1 4.8 33.0 1/ 1 ' | $ 1 . 0 0 0 . 0 0 0 and over 1971 1.9 4.6 22.0 7.1 37.8 5.6 8.4 1.2 U.4- 3.6 1.8 3.3 9.7 43.1 12.1 6.1 5.1 1.3 13.8100.0 40,619 22,997 33 119 120 178 634 279 WEIGHTED AVERAGE RATES IN 1971 ( p e r c e n t p e r anpuml 2 / Nov. Nov. Ayg, ! • 212,538 j77 6.44 6.67 7.55 7.54 6.95 7.46 6,79 7.10 6.57 .6.92 6.35 6,36 6.64 6.58 7.28 6.44 6.20 6.31 6.78 6.99 7.73 7.12 6.55 6.39 8.36 7 . 69 6.97 6.&58.16 6.12 , 8.41 . 7.08 7.34 -7.47 7.72 6.24 7.00 7.38 6.29 6.93 7.19 6.80 7.48 7.74 7.60 7.48 7.35 6.40 7.08 6.79 7.78 6.63 6:64 6.60 7.27 6.85 8.71 7.47 7.04 6.50 7.50 6.32 7.78 6.11 6.16 6.65 6.67 6.82 . 7.27 8.02 6.60 6.-35 6.27 6.53 7.05 6.46 6.12 6.26 6.59 7.00 7.00 6.68 6.45 6.36 .6.82 7.58 .7.93 7.18 7.49 6.90 7.35 6.26 6.91 6.26 6.70 6.32 6.53 6.49 7.60 6.31 6.07 6.81 6.95 6.93 7.19 6.99 6.50 5.70 8.05 7.43 7.03 8.01 7.80 6.94 9.31 7.63 7.98 6.92 7.63 6.29 7.44 7.06 8.03 7.04 7.12 6.79 7.84 7.39 7.63 7.71 7.17 6.52 . 7.36 6.89 8.03 6.70 6.48 6.80 6.53 6.19 6.34 7.00 6.18 6.05 6.56 6.80 7.52 6.50 6.82 6.81 6.29 6.27 6.41 7.25 6.19 5.99 6.83 6.72 6.77 7.00 6.71 6.32 r Beginning, F e b r u a r y 1971 t h e Q u a r t e r l y Survey of I n t e r e s t R a t e s June^ 1971 B u l l e t i n . The w e i g h t s used i n computing w e i g h t e d a v e r a g e i n t e r e s t r a t e s November s u r v e y , t o g e t h e r w i t h r e v i s e d a v e r a g e r a t e s f o r e a c h w e i g h t s f o r s i z e of l o a n and g e o g r a p h i c a r e a a r e based on t h e w h e r e a s t h e p r e v i o u s w e i g h t s were b a s e d on t h e d o l l a r amounts D o l lFRASER a r amounts i n t h o u s a n d s . Digitized- for 8.9 3.5 44.32.6 17.0 23.7 May May New York C i t y 7 Other N o r t h e a s t 8 North"Central 7 Southeast 8 Southwest 4 West C o a s t 1971 100.0 27,906 307,718. T o t a l - Number of l o a n s New York C i t y 7 Other N o r t h e a s t 8 North Central 7 Southeast 8 Southwest 4 West C o a s t 1971 1971 on B u s i n e s s Loans was r e v i s e d . 7.52 7.29 7.42 8.07 7.38 For d e s c r i p t i o n of r e v i s e d s e r i e s see pp. 4 6 8 - 4 7 " of t h e on b u s i n e s s l o a n s h a v e b e e n r e v i s e d . Average r a t e s compiled o n ^ t h e new b a s i s f o r t h e of t h e t h r e e s u r v e y s c o n d u c t e S e a r l i e r t h i s y e a r a r e shown i n t h i s r e l e a s e . The new combined d o l l a r amounts of l o a n s r e p o r t e d i n a l l f o u r s u r v e y s conducted in 1971. of l o a n s r e p o r t e d i n t h e F e b r u a r y s u r v e y . *)
@FedFRASER