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ase FEDERAL RESERVE DEC 2 7 1988 FEDERAL RESERVE BANK E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER FOR IMMEDIATE RELEASE DECEMBER 20, 1988 OF PHILADELPHIA 7-11, 1988 TABLE 1 COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY ALL COMMERCIAL BANKS AMOUNT OF LOANS LOAN CHARACTERISTICS ($1,000) AVERAGE |WEIGHTED| W E I G H T E D ! T SIZE | AVERAGE! AVERAGE |STANDARD I ($1,000)IMATURITYI EFFECTIVE! ERROR I I 2/1 3/ 4/1 j DAYS 1/ PERCENTAGE OF A M O U N T I M O S T I OF LOANS MADE UNDER, |COMMON | . I BASE I I | P R I C I N G ! COMMITMENT PARTICIPATION! RATE I LOAN RATE (PERCENT) INTERQUARTILE RANGE 5/ I S l_H! 1. ALL C & I LOANS 10,,032,481 4,,728 * 9.27 0.10 8.94-9.35 58.9 10.7 FED FUNDS ONE MONTH AND UNDER (EXCL OVERNIGHT) -FIXED RATE -FLOATING RATE 5,,792,879 4,,782,599 1,,010,280 776 1,,004 374 18 17 20 9.51 9.39 10.11 0.19 0.24 0.16 9.11-9. 95 9.11-9.,70 9.36-10.49 77.9 76.6 84.2 12.2 13.5 6.1 OTHER OTHER OTHER OVER ONE MONTH AND UNDER A YEAR -FIXED RATE -FLOATING RATE 6 ,938,988 4,,276,464 2i,662,525 129 154 102 141 105 199 10.51 10.15 11.10 0.17 0.20 0.16 9.58-11. 34 9.35-11. 07 10.38-11.63 81.4 84.4 76.5 11.8 11.6 12.1 PRIME DOMESTIC PRIME 267 666 245 * X X 10.80 9.66 10.96 0.20 0.14 0.20 9.25-12. 01 9.00-10. 22 9.57-12. 13 83.4 92.4 82.1 8.4 15.7 7.3 PRIME DOMESTIC PRIME 9.09-11. 02 OVERNIGHT 7/ 13 ,378,620 1 ,714,414 11 ,664,206 DEMAND 8/ -FIXED RATE -FLOATING RATE * 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+ * 36 ,142,969 318 48 10.11 0.15 75.3 10.3 PRIME 20 ,378,070 199,044 124,207 147,692 377,087 334,234 19 ,195,807 547 8 33 64 184 671 7 ,885 29 106 99 98 89 47 26 9.51 12.19 11.52 12.10 10.86 10.03 9.42 0.14 0.16 0.15 0.30 0.12 0.11 0.11 8.97-9 11.46-13 10.71-12 11.22-12 10.05-11 9.20-10 8.94-9 .76 00 .19 .72 .57 .71 .67 70.4 20.0 26.1 24.0 47.9 72.5 71.9 12.2 0.1 3.6 0.9 2.8 10.3 12.7 FED FUNDS OTHER PRIME PRIME PRIME DOMESTIC FED FUNDS 15 ,764,899 355,261 413,527 677,716 2 ,651,834 1 ,210,272 10 ,456,288 207 10 34 66 198 653 5 ,212 134 149 169 163 182 157 110 10.89 12.12 11.92 11.65 11.38 11.20 10.59 0.19 0.09 0.08 0.08 0.06 0.07 0.23 9.62-11 .91 11.55-12 .68 11.30-12 .68 11.02-12 .13 10.52-11 .91 10.47-11 .85 9.20-11 .63 81.8 69.3 77.6 79.5 86.0 86.0 80.9 7.8 0.9 3.3 2.8 10.0 7.7 8.0 PRIME PRIME PRIME PRIME PRIME PRIME PRIME 2 ,576,575 173 9.54-11..63 1 ,074,644 126,456 48,232 32,073 867,884 1 ,501,931 152,876 362,589 137,278 849,187 * 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+ | MONTHS j 47 10.79 0.25 70.8 9.1 147 19 172 635 5 ,393 46 74 59 56 40 10.48 12.65 11.53 10.60 10.11 0.43 0.31 0.27 0.41 0.22 9.12-11 11.57-12 11.00-12 9.64-11 8.88-11 .29 .68 .40 .49 .07 79.7 26.4 35.3 85.6 89.7 3.1 0.2 2.9 0.0 3.7 196 27 220 657 3 ,942 49 63 48 53 46 11.00 12.05 11.69 11.30 10.47 0.22 0.17 0.20 0.21 0.19 9.96-11 .74 11.57-12,.68 10.52-12 .13 10.52-11 .91 9.29-11 .57 64.4 25.8 48.5 50.1 80.5 13.3 1.7 16.1 5.8 15.5 TAYT" LOAN RATE (PERCENT) epftmve 3/ nominal 9/ i I PRIME RATE 10/ 2. LOANS MADE BELOW PRIME 11/ 9,456,175 9,008 ONE MONTH AND UNDER (EXCL OVERNIGHT) 4,962,395 3,056 OVER ONE MONTH AND UNDER A YEAR 3,344,030 628 DEMAND 4,636,975 1,728 22,399,574 17,441,987 4,957,587 2,096 2,500 1,337 1,015,037 512,241 502,796 750 813 695 OVERNIGHT 7/ 8/ TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE SEE LAST PAGE FOR FOOTNOTES 8.74 10.00 56.7 12.5 16 9.19 8.80 10.00 78.3 13.5 128 9.54 9.18 10.07 93.4 12.1 9.21 8.84 10.01 65.4 8.6 9.22 9.19 9.33 8.84 8.81 8.96 10.01 10.01 10.04 68.8 68.1 69.0 11.9 13.9 4.9 9.43 9.20 9.66 9.11 8.94 9.27 10.11 10.02 10.19 94.0 91.7 96.3 9.8 0.0 19.7 30 23 94 j TOTAL ONE YEAR AND OVER -FIXED RATE -FLOATING RATE 9.13 MONTHS 31 26 37 PRIME DOMESTIC OTHER PRIME OTHER DOMESTIC PRIME PRIME PRIME PRIME PRIME E.a SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 7-11, 1988 TABLE 2 COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY LARGE BANKS j LOAN CHARACTERISTICS AMOUNT OF LOANS ($1,000) 1 1 | | | ! 1 AVERAGE WEIGHTED WEIGHTED! 1 SIZE AVERAGE AVERAGE ISTANDARD! (#1,000)(MATURITY EFFECTIVE1 ERROR | 2/ V| 1 I MOST I I COMMON | I BASE | 1 PRICING I 1 COMMITMENT I PARTICIPATION I RATE I j 6/ j INTERQUARTILE RANGE 1/ PERCENTAGE OF AMOUNT OF LOANS MADE UNDER: LOAN RATE (PERCENT) ! 5/ 6AVS 1. ALL C 8 I LOANS OVERNIGHT 7/ 7,580,092 7,985 * 9.36 0.16 8.94-9. 42 66.1 13.9 FED FUNDS ONE MONTH AND UNDER (EXCL OVERNIGHT) -FIXED RATE -FLOATING RATE 4,379,053 3,729,185 649,869 3,029 3,951 1,295 18 17 21 9.38 9.29 9.90 0.29 0.42 0.18 9 . 1 1 - 9 . 89 9 . 0 4 - 9 . 70 9.30-10. 47 76.8 85.9 75.2 12.4 13.8 4.6 OTHER OTHER DOMESTIC OVER ONE MONTH AND UNDER A YEAR -FIXED RATE -FLOATING RATE 4,458,520 3,313,942 1,144,578 903 2,006 349 125 99 202 10.18 10.03 10.62 0.14 0.15 0.27 9.44-11. 07 9 . 3 5 - 1 0 . 94 9.88-11. 48 91.7 93.9 85.5 11.9 14.4 4.6 DOMESTIC DEMAND 8/ -FIXED RATE -FLOATING RATE 8,766,153 976,243 7,789,910 634 2,411 580 M * * 10.78 9.89 10.90 0.39 0.17 0.40 9.20-12. 01 9.18-10. 47 9.20-12. 19 80.5 90.0 79.3 6.3 1.4 6.9 PRIME DOMESTIC 25,183,818 1,190 39 10.00 0.13 9.09-10. 61 77.5 10.6 PRIME 15,177,755 7,762 10,019 20,468 118,503 169,961 14,851,042 3,877 10 33 67 217 693 8,547 28 81 73 60 55 34 28 9.52 11.78 11.38 11.42 10.76 10.27 9.50 0.18 0.22 0.26 0.32 0.14 0.08 0.18 9.02-9 80 11.35-12. 57 10.51-12. 05 1 0 . 9 4 - 1 2 . 09 10.09-11. 50 9.55-11. 03 9.01-9. 80 75.0 21.7 41.3 46 .7 69.7 78.3 75.1 13.6 0.0 0.0 0.4 3.4 13.9 13.7 FED FUNDS PRIME PRIME 10,006,063 61,274 92,129 178,726 898,907 595,723 8,179,305 580 11 34 67 209 658 6,774 112 133 154 157 148 150 104 10.73 11.88 11.75 11.53 11.24 11.07 10.61 0.36 0.15 0.13 0.13 0.09 0.07 0.45 9.25-12.01 11.02-12. 68 11.02-12. 40 10.75-12. 13 10.47-11. 71 10.47-11. 63 9.18-12. 01 81.3 83.1 85.8 88.4 89.3 92.1 79.4 6.2 0.4 1.0 2.1 5.2 8.2 6.4 PRIME PRIME PRIME PRIME PRIME PRIME PRIME MONTHS 1 1,538,426 972 42 10.22 0.29 9.19-11 .07 93.3 9.5 DOMESTIC 815,479 5,155 9,015 12,287 789,021 2,081 25 244 648 6,179 39 46 61 43 39 10.06 12.46 10.68 10.09 10.04 0.61 0.44 0.50 0.72 0.26 8.88-11 .07 11.07-13 .24 10.47-12 .01 9.59-10 .47 8.88-11 .07 95.6 34.9 54.6 94.5 96.5 3.9 0.0 0.0 0.0 4.1 DOMESTIC OTHER OTHER 722,947 20,573 77,293 59,726 565,355 607 34 211 633 4,841 45 35 45 40 46 10.40 12.15 11.33 10.97 10.15 0.29 0.35 0.25 0.23 0.31 9.28-11 .57 11.02-12 .75 10.52-11 .73 10 38-11 .71 9.23-11 .07 90.6 65.2 77.7 81.4 94.3 15.8 0.5 5.5 8.7 18.6 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 ($1,000) 1-99 100-499 500-999 1000+ -FLOATING RATE BY SIZE (#1,000) 1-99 100-499 500-999 1000+ LOAN RATE (PERCENT) DAYS eppECtive 3/ NOMINAL 9/ PRIME 1 RATE | 10/ | 2. LOANS MADE BELOW PRIME 11/ 7,039,554 10,028 * 9.20 8.80 10.00 63.7 14.9 ONE MONTH AND UNDER (EXCL OVERNIGHT) 3,867,427 5,576 17 9.15 8.77 10.00 76.0 13.2 OVER ONE MONTH AND UNDER A YEAR 2,708,342 5,569 121 9.54 9.19 9.99 96.1 12.0 DEMAND 8/ 3,317,365 5,428 9.18 8.81 10.00 56.0 0.5 TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE 16,932,688 13,004,772 3,927,916 6,792 7,002 6,180 29 9.24 9.23 9.25 8.86 8.85 8.88 10.00 10.00 10.00 ?$:! 63.5 11.3 14.5 0.5 819,308 478,578 340,730 4,031 4,613 3,425 —32 9.22 9.14 9.34 8.94 8.90 8.99 9.99 10.00 9.98 56.9 95.4 98.9 0.0 15.0 OVERNIGHT 7/ 22 96 HtiNtHs TOTAL ONE YEAR AND OVER -FIXED RATE -FLOATING RATE SEE LAST PAGE FOR FOOTNOTES 26 40 1 6.2 DOMESTIC PRIME PRIME PRIME PRIME DOMESTIC FED FUNDS OTHER DOMESTIC PRIME PRIME PRIME PRIME DOMESTIC SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 7-11, 1988 TABLE 3 COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY OTHER BANKS LOAN CHARACTERISTICS AMOUNT OF LOANS ($1,000) | I I 1 AVERAGE WEIGHTED HEIGHtti)! SIZE AVERAGE AVERAGE STANDARD| ($1,000) MATURITY EFFECTIVE ERROR 3/ 4/1 2/ INTEAQUARTILE RANGE 5/ 1/ PERCENTAGE OF A M O U N T OF LOANS MADE U N D E R : LOAN RATE (PERCENT) | MOST | 1 COMMON I 1 1 BASE 1 1 PRICING! ! ! COMMITMENT|PARTICIPATION! R A T E bAYS "! 1 1. ALL C 8 I LOANS 2,452,389 2 ,092 * 8.99 0.12 8.73-9 .14 36.7 0.7 FED FUNDS ONE MONTH AND UNDER (EXCL OVERNIGHT) -FIXED RATE -FLOATING RATE 1,413,826 1,053,415 360,411 235 276 164 17 17 18 9.92 9.72 10.49 0.17 0.19 0.20 9.15-10 .15 9.15-9 .74 9.83-11 .57 81.4 81.5 81.2 11.5 12.4 8.6 FED FUNDS OTHER OVER ONE MONTH AND UNDER A YEAR -FIXED RATE -FLOATING RATE 2,480,468 962,522 1,517,947 51 37 67 170 129 196 11.11 10.57 11.46 0.13 0.30 0.08 10.38-11.85 9.23-11 .96 10.92-11 .85 62.8 51.9 69.8 11.7 2.1 17.7 PRIME PRIME DEMAND 8/ -FIXED RATE -FLOATING RATE 4,612,468 738,171 3,874,297 127 340 114 * 10.82 9.36 11.10 0.13 0.16 0.07 10.22-11 .57 9.00-9,.54 10.47-11.85 88.9 95.5 87.7 12.3 34.7 8.1 10,959,151 119 71 10.36 0.22 9.05-11.57 70.4 9.5 PRIME 5,200,315 191,282 114,188 127,224 258,583 164,273 4,344,766 156 8 33 63 171 650 6 ,236 33 107 101 104 104 61 19 9.48 12.21 11.53 12.21 10.90 9.79 9.13 0.21 0.14 0.13 6.35 0.22 0.17 0.13 8.83-9 52 11.46-13 ,10 10.92-12. 19 11.46-12. 83 10.05-11. 63 9.00-10.,38 8.79-9.,27 56.9 19.9 24.8 20.4 37.9 66.5 61.2 8.1 0.1 3.9 1.0 2.5 6.5 9.2 FED FUNDS, OTHER 5,758,836 293,988 321,398 498,989 1,752,928 614,549 2,276,984 98 9 33 66 193 648 2 ,851 161 151 171 164 191 162 128 11.15 12.17 11.97 11.69 11.45 11.32 10.52 0.06 0.08 0.07 0.06 0.04 0.10 0.17 10.47-11 85 11.57-12 .71 11.35-12. 68 11.02-12. 19 10.75-12. 13 10.47-12. 13 9.50-11.19 82.6 66.4 75.3 76.3 84.3 80.1 86.4 10.6 1.0 3.9 3.0 12.4 7.2 14.1 OVERNIGHT 7/ 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+ * X 1 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+ MONTHS PRIME 11.62 0.12 10.75-12. 13 37.4 8.4 PRIME 11.82 12.66 11.72 10.92 10.82 0.45 0.48 0.14 0.52 0.13 10.86-12. 40 11.57-12. 68 11.02-12. 40 9.66-11. 85 10.76-10. 86 29.4 26.1 30.8 80.0 21.2 0.6 0.2 3.6 0.0 0.0 OTHER OTHER 778,983 132,303 285,296 77,552 283,832 121 27 223 677 2 ,877 52 67 49 64 45 11.56 12.04 11.78 11.55 11.10 0.19 0.09 0.30 0.25 0.16 10.47-12 13 11.57-12. 68 10.52-12. 68 11.57-11 91 10.42-11 63 40.1 19.6 40.6 26.0 53.0 11.0 1.9 19.0 3.5 9.3 PRIME PRIME PRIME DAYS LOAN kAte (PERCENT) j EFFECTIVE 11 NOMINAL ! 635,688 131 8/ 1,319,610 637 TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE 5,466,886 4,437,215 1,029,671 667 867 335 195,729 33,663 162,066 170 64 260 PRIME 54 1 ,177 SEE LAST PAGE FOR FOOTNOTES PRIME PRIME PRIME 66 76 59 64 57 1,094,967 TOTAL ONE YEAR AND OVER -FIXED RATE -FLOATING RATE PRIME PRIME 38 18 161 628 2 ,374 6 ,950 DEMAND PRIME PRIME PRIME FED FUNDS FED FUNDS 78 2,416,621 OVER ONE MONTH AND UNDER A YEAR PRIME 259,165 121,301 39,217 19,786 78,862 ! 7/ PRIME DOMESTIC 1 2. LOANS MADE BELOW PRIME 11/ ONE MONTH AND UNDER (EXCL OVERNIGHT) PRIME 1,038,149 1 OVERNIGHT FED FUNDS X 1 PRIME I RATE 1 10/ I 8.93 8.56 10.00 36.3 5.6 15 9.33 8.93 10.01 86.4 14.2 159 9.50 9.14 10.39 81.8 12.4 9.28 8.92 10.04 89.2 28.9 9.16 9.06 9.62 8.79 8.68 9.24 10.06 10.03 10.19 64.4 59.4 86.0 13.8 12.0 21.4 10.28 10.03 10.34 9.81 9.57 9.86 10.59 10.41 10.63 81.9 39.3 90.7 24.7 A X 30 23 88 1 9/ | MONTHS 30 26 31 1 zt r PRIME OTHER OTHER PRIME PRIME E. 2 SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 7-11, 1988 TABLE 4 CONSTRUCTION AND LAND DEVELOPMENT LOANS (SECURED AND UNSECURED BY REAL ESTATE) AMOUNT OF LOANS ($1,000) LOAN CHARACTERISTICS 1. ALL BANKS 1/ FIXED RATE BY SIZE ($1,000) 1-24 25-49 50-99 100-499 500+ FLOATING RATE Bt SIZE ($1,000) 1-24 25-49 50-99 100-499 500+ BY TYPE- OF CONSTRUCTION SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL 2. LARGE BANKS 1/ FIXED RATE BY SIZE ($1,000) 1-24 25-49 50-99 100-499 500+ FLOATING RATE BY SIZE ($1,000) 1-24 i 25-49 jk 50-99 ^00-499 500+ BY TYPE OF CONSTRUCTION SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL 3. OTHER BANKS 1/ 1 1 WEIGHTED AVERAGE I AVERAGE SIZE I MATURITY ($1,000) | (MONTHS) 2/ 1 LOAN RATE (PERCENT) WEIGHTED | 1 AVERAGE | STANDARD 11 EFFECTIVE! ERROR I1 3 / ! i INTERQUARTILE RANGE 5/ 11.04 0.14 10. 62-11. 57 84. 9 17.2 718,378 19,298 13,750 6,219 27,971 651,141 170 6 34 76 214 3,076 7 5 10 10 18 6 10.41 11.59 11.64 11.44 11.27 10.31 0.20 0.25 0.19 0.27 0.32 0.21 9. 92-10. 64 11. 05-12. 13 11. 02-12. 13 11. 26-11. 57 10. 61-12. 13 9. 92-10. 64 81.6 75. 9 63. 4 68.4 74.8 82.5 7.4 0.0 0.0 0.0 30.4 6.8 1,686,579 42,052 45,693 76,861 251,029 1,270,943 209 10 36 67 228 2,765 20 11 8 9 16 22 11.30 12.12 11.83 12.18 11.57 11.15 0.10 0.11 0.10 0.12 0.05 0.15 11. 02-11. 57 11. 57-12. 68 11. 57-12. 19 11. 57-13. 31 11. 03-11. 85 11. 02-11. 57 86. 4 83. 8 85.9 89.1 88. 4 85.9 21.3 3.4 4.6 2.6 3.1 27.3 304,238 235,929 1,864,790 40 304 470 13 23 14 11.44 10.98 10.98 0.12 0.16 0.16 11. 02-12. 13 9. 92-11. 57 10. 61-11.57 82. 1 49. 4 89. 9 1.1 1.7 21.8 1,418,010 897 14 11.02 0.21 10. 64-11. 30 88. 6 27.2 484,890 669 665 * * 478,966 2,888 11 33 * * 9,566 2 7 9 X 2 10.46 11.45 11.43 X X 10.46 0.23 0.45 0.34 X X 0.24 10. 34-10, 64 10. 94-11.57 11. 31-11. 57 X X 10..34-10. 64 95. 1 79. 2 80. 1 X X 95.2 9.5 0.0 0.0 X X 9.3 933,121 4,701 5,965 12,357 99,219 810,879 660 10 36 71 253 3,587 21 10 14 15 16 21 11.31 12.15 11.63 11.74 11.54 11.27 0.12 0.18 0.16 0.11 0.07 0.15 11..02-11. 57 11..57-12. 75 11 .30-12. 13 11 .30-12..13 11 .30-11 .85 11 .02-11 .57 85. 2 88. 7 92. 6 97. 8 95 3 83 .7 36.4 1.1 0.8 7.3 1.7 41.6 91,849 143,194 1,182,967 152 911 1,443 15 25 13 11.60 11.31 10.94 0.14 0.12 0.21 11 .30-12 .01 11 .02-11 .57 10 .64-11 .30 92 .6 63 .3 91 .3 0.0 1.4 32.5 986,946 92 17 11.06 0.22 10.47-11.57 79 .7 2.7 233,488 18,629 13,085i 5,311 24,289 * 58 6 34 77 223 X 16 5 10 8 19 X 10.31 11.59 11.65 11.52 11.32 X 0.35 0.21 0.24 0.48 0.43 X 9 .42-11 .02 11 .06-12 .13 11 .02-12 .13 11 .35-11 .57 10 .67-12 .13 X 53 .4 75 .8 62 .5 65 .0 72 .2 X 2.9 0.0 0.0 0.0 27.6 X 113 10 36 67 213 1,970 18 11 7 9 16 23 11.30 12.12 11.86 12.27 11.59 10.95 0.17 0.14 0.11 0.19 0.06 0.24 10 .75-11 .63 11 .57-12 .68 11 .57-12 .19 11 .57-13 .31 11 .02-12 .13 10.47-11 .57 87 .8 83 .1 84 .9 87 .5 83 .9 89 .8 2.6 3.6 5.2 1.7 4.0 2.0 31 150 216 13 22 18 11:37 10.47 11.05 0.21 0.31 0.27 11 .02-12 .17 9 .92-11 .02 10 .47-11 .57 77 . 6 27.9 87 .4 1.5 2.0 3.2 BY TYPE OF CONSTRUCTION SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL 212,389 92,735 681,823 ; NOTE. 67.5 PERCENT 9F CONSTRUCTION AND LAND DEVELOPMENT LOANS WERE PRICED RELATIVE TO THE PRIME RATE ! 15 753,458 37,351 39,727 64,504i 151,811 460,064 * FEWER THAN 10 SAMPLE LOANS. ! 196 * 1 | 1 COMMITMENT I PARTICIPATION! 2,404,957 FIXED RATE BY SIZE ($1,000) 1-24 25-49 50-99 100-499 500+ FLOATING RATE BY SIZE ($1,000) 1-24 25-49 50-99 100-499 , 500+ SEE LAST PAGE FOR FOOTNOTES PERCENTAGE OF AMOUNT OF LOANS MADE UNDER, able 5 UAN9 IV r-AHMCriO ,LL BANKS Amount of loans (thousand# Number of loans Weighted average maturity {months^ Weighted average interest rate i'%)3 Standard error4 Interquartile range9 By purpose of loan: Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other Percentage of amount of loans: With floating rates Made under commitment By purpose of loan: Feeder livestock Other livestock Other current operating expsmeeo Farm machinery and equipment Farm real estate Other LARGE BANKS11 Amount of loans (thousands) Number of loans Weighted average maturity (mom##* Weighted average interest rate (%^ Standard error4 Interquartile range9 By purpose of loan: Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other Percentage of amount of loans: With floating rates Made under commitment By purpose of loan: Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other OTHER BANKS12 Amount of loans (thousands) Number of loans Weighted average maturity (months)2 Weighted average interest rate (%)3 Standard error4 Interquartile range9 By purpose of loan: Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other Percentage of amount of loans: With floating rates Made under commitment By purpose of loan: Feeder livestock Other livestock Other current operating expenses Farm machlnsry and equipment Farm real estats Other See lest page for notes to tables •Fewer than 10 sample loans Size class of loans (thousands) $250 and a er $50-99 $100-248 $93,406 2,611 9.3 $126,989 1,947 10.2 $166,393 1,077 7.2 $199,874 216 4.6 11.91 .45 11.42-12.40 12.01 .89 11.40-12.68 12.03 .55 11.63-12.47 11.49 .97 10.56-12.01 10.84 .22 10.38-11.57 11.53 12.75 11.93 12.33 12. 14 12.40 12.19 11.62 11.87 1 1 . 76 11.98 1 2 . 17 11.34 11,. 0 2 12.22 11.53 11.35 12.25 13.31 12.06 11.89 11.54 11.58 12.00 12.15 11.71 11.03 62.6 61.6 51.7 43.2 53.7 48.5 65.8 58.0 52.7 3d. 5 71. 1 56.9 68.4 94.7 28.6 13.8 38.0 3.5 3.1 13. 1 14.4 4.2 68.6 5.4 1.2 6.2 31.1 6.8 46.5 6.2 4.6 4.7 39.2 6.3 41.1 27.7 17.3 32.7 42.0 16.9 $273,529 3,480 5.6 46,442 1,555 7.0 11.10 .56 10.47-11.63 $25-49 $10-24 s i siase 51-9 $753,*60 d2,302 7,4 £72,689 19,936 6. 1 $94,609 6,515 8.0 11.59 .o0 10.74-12.13 12.10 .52 11.57-12.55 11.57 11.72 11.57 * * $ $ * * 11.06 10.73 * * $ * * 34.8 * 27.4 * * * * * 3.7 9.b 6.0 3J . 4 $10,980 706 5.7 $17,162 479 9.7 $22,379 332 9.6 $35,282 242 12.3 $ 1 8 1 , 2 85 1 65 4 .0 12.37 .49 11.81-12.83 12.09 .43 11.57-12.68 11.89 .85 11.46-12.40 11.76 • 51 11.30-12 .28 11.58 .68 11.02-12.02 1 0 . 75 18 1 0 . 3 8 - 1 1 . 07 11.08 10.73 11.22 11.99 11.98 11.17 11.86 12.46 12.41 12.71 11.71 1 2 . 14 12. 14 11.67 12.04 11.87 11.62 11.35 1 0 . 71 12.07 12.29 12.00 11.95 11.71 10. 93 74.9 91.4 86.8 78.5 94.4 89.7 96.4 87.8 91.2 81.2 95.9 88.3 65 . 1 94 . 1 16.5 19.0 35.4 •8 .9 27.4 8.7 5.8 68.2 4.2 13.7 6.0 61.4 19. 1 7.5 52.3 23.3 28.5 13 »5 9.6 13.2 17.1 21.3 28.2 $480,431 28,822 8.2 $66,248 18,381 6.0 $83,628 5,808 8.2 $76,244 2,132 9.2 $104,611 1,616 10.3 $131,111 835 6.7 11.86 .20 11.30-12.47 12.07 .16 11.57-12.50 11.89 .12 11.41-12.36 12.04 .27 11.40-12.68 12.09 . 19 11.63-12.47 11.46 .68 10.56-11.91 11.70 12.72 11.75 12.24 11.48 11.91 12.27 13.43 12.03 11.83 11.52 12.24 11.79 11.50 55.6 44.6 48.3 39.8 48.4 43.1 58.9 51.3 44.5 29.4 35.4 10.8 39.5 5.0 4.4 5.0 15.0 4.0 68.6 5.5 33.4 43.7 28.7 $ * $ * * * $ * * * * 11.89 $ * * 11.88 * * * * $ * * * 11.60 * * * 41.2 * • * * * * • * 11.69 * * * 35.7 * * * • * 10. 73 * * * 30 . 2 30 15 * * * * * * | * 44.6 * * * 5.8 * * 38.6 * • * $ * * * * 64.5 48.4 * * * * * * e # « • • # * < NOTES The survey of terms of bank lending to business collects data on gross loan extensio made during the first full business week in the mid- month of each quarter by a samp of 340 commercial banks of all sizes. A subsample of 250 banks also report 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. Construction and land development loans include both unsecured loans and loans secured by real estate. Thus, some of the construction and land development loans would be reported on the statement of condition as reals estate loans and the remainder as business loans. Mortgage loans purchased loans, foreign loans, and loans of less than $1,000 are excluded from the survey. 1. As of December 31, 1987, assets of most of the large banks were at least $ 6.0 billion. For all insured banks, total assets averaged $ 220 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 loan 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 5), most "large banks" (survey strata 1 to 3) had over $ 600 million in total assets, and most "other banks" (survey strata 4 to 6) had total assets below $ 600 million.