The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
.vosyst&v. FEDERAL RESERVE statistical release W | L W F / %ureS^"' E.2 SURVEY OF TERMS OF BANK LENDING fSnr, 'JAW 3 - 1, fE'.-'Y' Notes on Survey Content 6 / r,,x " A cover note to the previous E.2 release, dated October 28, included a special table that presented survey data for August 1986 disaggregated according to maturity and base rate.* Base rate information became available for the first time with the August survey. To provide users with a somewhat different perspective on loan pricing, data for the November survey are displayed in the table below disaggregated by size and base rate. Reported base pricing categories include the respondent bank's prime rate, the federal funds rate, domestic money market rates other than the federal funds rate, foreign money market rates, and other rates not included in the preceding measures, Gross Extensions of Commercial and Industrial Loans By Loan Size and Base Rate, November 3-7, 1986 (all insured commercial banks; billions of dollars) Loan Size ($1,000) Prime Federal Funds Base Rate Other Domestic Foreign Money Market Money Market Other None .2 .4 1.2 1.8 5.2 1.6 3.1 3.7 13.6 .1 .1 1.7 14.1 15.9 .2 .1 1.8 9.1 11.1 .7 3.2 3.9 .8 .1 1.0 2.6 4.5 (a) weighted average loan rate (percent) 8.33 6.52 6.61 7.13 7.34 7.07 (b) weighted average maturity (months) 17 .5 1.1 6.7 9.5 8.0 3.1 1-499 500-999 1,000-4,999 5,000+ All loans - - Memo: Note: Components may not add to totals due to rounding• - denotes less than $100 million. 1. A revised version of that table appears on the back of this page• Prime-based loans are conspicuous in each loan size category, although they are most prominent for small- to medium-sized loans, those made in amounts under $ 5 0 0 , 0 0 0 . By contrast, relatively few loans priced with market rates are made in denominations of under $1 million. The reference rate accounting for the largest volume of gross loan extensions measured during the November survey week, $15.9 billion, was the federal funds rate. The dominance of this rate reflects its typical usage as a base rate for overnight loans. Because overnight loans are measured on each day of the survey week, they account for a substantial percentage of total gross loans extended, but a much smaller share of outstandings. The first memorandum line presents average loan rates by base pricing categories. Prime-based loans tend to be more expensive than those priced with market rates. During the survey week, prime-based loans had an average rate of 8.33 percent, compared with a prevailing prime rate of 7.5 percent. Among market-related loans, the lowest average rate was for those loans linked to the federal funds rate. The average loan in this category was priced 46 basis points above the average federal funds rate during that week. Loans priced with other market rates had higher average rates, evidently reflecting in part their longer average maturities. ************************ Gross Extensions of Commercial and Industrial Loans By Base Rate and Loan Maturity, August 4-8, 1986 (all insured commercial banks; billions of dollars; revised) Loan Maturity Prime Federal Funds Base Rate Used to Price Loan Other Domestic Foreign Money Market Money Market Other None Overnight .3 11.9 3.6 .5 1.7 .5 One month and under (excluding overnight) .9 .8 2.2 1.2 .7 .5 1.0 1.3 .3 Over one month and under one year 4.4 .6 1.5 Demand 4.0 .6 .4 One year and over 2.4 ,_2 .8 12.0 14.0 Total Note: 8.5 Components may not add to totals due to rounding. - denotes less than $100 million. .3 3.1 .4 .1 .8 .1 4.9 1.5 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 subsample of 250 banks al3o 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, 1985, assets of most of the large banks were at least $ 5.5 billion. For all insured banks, total assets averaged $ 165 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 1 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. FEDERAL RESERVE statistical release FOR IMMEDIATE RELEASE DECEMBER 23, 1986 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 3-7, 1986 TABLE 1 COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY ALL COMMERCIAL BANKS LOAN RATE (PERCENT) LOAN CHARACTERISTICS AMOUNT OF LOANS ($1,000) AVERAGE WEIGHTED WEIGHTED SIZE AVERAGE AVERAGE STANDARD ($1,000) MATURITY EFFECTIVE ERROR 3/ 2/ 4/ 1/ PERCENTAGE OP AMOUNT MOST COMMON BASE PRICING COMMITMENT PARTICIPATION RATE 6/ OF LOANS MADE UNDER« INTERQUARTILE RANGE 5/ DAYS OVERNIGHT 7/ ONE MONTH AND UNDER (EXCL OVERNIGHT) -FIXED RATE -FLOATING RATE OVER ONE MONTH AND UNDER A YEAR -FIXED RATE -FLOATING RATE 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+ 18,042,062 7,415 X 6 .70 0 03 6.45-6 .85 78 3 1 .2 9,138,063 7,227,320 1,910,743 657 844 358 18 18 20 7 .11 6 .98 7 .61 0. 17 0 16 0 19 6.51-7 .43 6.47-7 .19 6.66-8 .33 77 .1 76 6 79 0 7 .7 4 .7 19 .0 DOMESTIC DOMESTIC PRIME 10,836,499 5,317,993 5,518,506 126 130 123 135 96 171 7 .97 7 .78 8 .16 0 21 0. 24 0 19 6.79-8 .65 6.70-8 23 6.98-8 .87 72 8 74 .0 71 .6 7 .8 9 .5 6 .1 PRIME FOREIGN PRIME 6,306,616 1,560,525 4,746,092 174 618 141 X X X 8 .01 6 .93 8 .37 0 12 0 35 0 10 6.91-8 .84 6.38-7 11 7.76-8 87 80 .7 76 6 82 0 5 .7 4 2 6 2 PRIME FED FUNDS PRIME 44,323,240 320 43 7 .28 0. 12 6.54-7 .76 77 0 4 .8 FED FUNDS 31,768,686 295,394 163,721 197,270 597,956 280,882 30,233,463 584 8 32 64 213 677 7,874 22 106 107 112 130 60 18 6 .96 11 .24 10 .22 10 .18 9 .14 7 .51 6 .83 0. 07 0. 26 0 30 0. 26 0. 23 0 09 0. 04 6.49-7 .11 9.93-12 55 4.83-11 73 8.87-11 36 8.03-10 47 6.79-7 .79 6.48-6 .98 77 18 32 18 51 80 79 3 8 9 3 1 9 0 3 5 0 .1 0 1 0 .9 1 .1 4 .5 3 .7 FED FUNDS OTHER PRIME PRIME PRIME PRIME FED FUNDS 12,554,554 407,448 455,089 765,387 2,464,770 1,178,220 7,283,639 149 9 34 66 196 640 3,978 126 158 161 158 143 168 110 8.10 9 ,70 9 .54 9 .29 8 .75 8 .45 7 .53 0 13 0 11 0 10 0 .09 0 05 0 07 0 11 6.98-8 .84 8.84-10 25 8.82-9,.93 8.57-9 .92 7.85-9 .38 7.76-9 .11 6.58-8i.30 76 71 72 70 76 80 77 4 0 8 8 1 8 0 8 .0 3 9 4 1 1 .7 4 .1 6 2 10 7 6,635,616 265 54 8.24 0.19 7.49-9.04 1,799,667 144,382 132,431 57,597 1,465,256 179 16 195 696 8,109 51 45 85 60 49 8.08 11.35 9.49 9.92 7.56 0.32 0.44 0.18 0.47 0.54 6.99-8.84 9.49-12.40 8.30-10.75 9.76-11.02 6.79-8.06 4,836,150 273,875 563,406 450,929 3,547,940 322 25 194 652 5,521 54 37 46 47 58 8.30 9.41 8.79 8.49 8.11 0.17 0.16 0.11 0.11 0.22 7.71-9.04 8.57-9.96 8.03-9.38 7.76-8.84 7.64-8.84 FED FUNDS PRIME PRIME PRIME PRIME PRIME PRIME PRIME MONTHS TOTAL ONE YEAR AND OVER -FIXED RATE BY SIZE (11,000) 1-99 100-499 500-999 1000+ -FLOATING RATE BY SIZE ($1,000) 1-99 100-499 500-999 1000+ LOAN RATE (PERCENT) DAYS EFFECTIVE 3/ NOMINAL 9/ 76 5 67 19 24 21 78 6 .6 .9 .5 .1 7.9 o!o 17.7 79 .8 56 .8 65 .8 76 2 84 .3 a 0.0 0.8 PRIME RATE 10/ 2. LOANS MADE BELOW PRIME 11/ 17,572,718 9,467 X 6. 66 6.45 7.50 78 2 1.3 ONE MONTH AND UNDER (EXCL OVERNIGHT) 7,413,630 4,110 17 6 74 6.53 7.51 78 2 7.6 OVER ONE MONTH AND UNDER A YEAR 4,828,488 907 126 6 .81 6.62 7.60 76 .7 12.8 DEMAND 8/ 2,060,771 2,561 X 6 .64 6.48 7.51 76 .8 3.4 TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE 31,875,608 27,957,590 3,918,017 3,256 4,042 1,365 ,!! 6 .70 6 .70 6 .71 6.50 6.50 6.51 7.52 7.51 7.56 ":2 78.3 ioil 6.80 6.73 6.87 6,64 6.60 6.67 89.5 86.2 92.7 2?:i OVERNIGHT 7/ 1 MONTHS TOTAL ONE YEAR AND OVER -FIXED RATE -FLOATING RATE SEE LAST PAGE FOR FOOTNOTES 1,927,756 935,092 992,664 iilii 47 51 44 1 111 7.80 4.7 14.6 PRIME DOMESTIC PRIME OTHER PRIME DOMESTIC PRIME PRIME PRIME PRIME PRIME SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 3-7, 1986 TABLE 2 COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY LARGE BANKS LOAN CHARACTERISTICS AMOUNT OF LOANS (•1,000) LOAN RATE (PERCENT) WEIGHTED INTER- AVERAGE SIZE WEIGHTED AVERAGE AVERAGE STANDARD MATURITY EFFECTIVE ERROR 3/ 2/ 4/ ($1,000) 1/ PERCENTAGE OP AMOUNT QUARTILE RANGE 5/ MOST COMMON BASE PRICING COMMITMENT PARTICIPATION RATE 6/ OF LOANS MADE UNDER* DAYS ALL C a I LOANS 12,542,083 9,774 X 6.74 0.04 6.45-6 .88 80.1 1.2 FED FUNDS ONE MONTH AND UNDER (EXCL OVERNIGHT) -FIXED RATE -FLOATING RATE 6,537,372 5,695,923 841,449 2,953 4,798 820 18 17 21 6.95 6.88 7.40 0.04 0.03 0.13 6.53-7 .21 6.47-7 .19 6.76-7 .78 79.7 78.6 87.3 4.3 3.5 9.1 DOMESTIC DOMESTIC PRIME OVER ONE MONTH AND UNDER A YEAR -FIXED RATE -FLOATING RATE 6,518,756 3,643,926 2,874,830 831 2,269 461 123 82 175 7.49 7.40 7.61 0.09 0.10 0.14 6.70-8 .23 6.70-8 .23 6.65-8 .33 81.6 88.5 73.0 5.6 5.4 5.8 DOMESTIC FOREIGN PRIME DEMAND 8/ -FIXED RATE -FLOATING RATE 3,110,547 811,651 2,298,896 354 3,095 269 X X X 7.78 6.80 8.12 0.17 0.64 0.15 6.70-8 .77 6.37-6 .75 7.71-8 .84 75.9 59.0 81.9 5.1 1.5 6.3 PRIME FED FUNDS PRIME 28,708,758 1,425 37 7.07 0.05 6.51-7 .49 79.9 3.3 FED FUNDS 22,451,611 8,266 7,285 13,041 99,787 159,883 22,163,348 5,233 10 33 64 224 677 9,394 19 92 75 71 63 48 19 6.89 10.03 9.30 9.14 8.18 7.54 6.87 0.06 0.31 0.30 0.35 0.14 0.14 0.06 6.49-7 .10 8.96-10 .48 8.78-9 .92 8.33-9 .92 7.59-8 .81 6.79-7 .79 6.48-7 .09 80.6 37.4 36.6 45.4 71.6 79.5 80.7 2.5 0.9 0.0 3.1 3.9 4.7 2.5 FED FUNDS PRIME PRIME PRIME PRIME DOMESTIC FED FUNDS 6,257,146 61,632 78,033 161,312 774,947 418,935 4,762,288 395 11 34 67 206 653 4,668 132 129 136 139 140 141 130 7.73 9.36 9.21 9.02 8.63 8.33 7.44 0.10 0.15 0.08 0.07 0.05 0.11 0.11 6.72-8 .51 8.77-9 .96 8.57-9 .92 8.30-9 .65 7.79-9 .11 7.76-8 .87 6.57-8.24 77.5 77.1 73.8 74.5 81.2 82.6 76.6 6.2 0.4 0.7 0.7 1.4 5.5 7.4 PRIME PRIME PRIME PRIME PRIME PRIME PRIME 4,471,849 1,011 8.09 0.17 7.06-8. 77 83.3 4.4 1,229,545 6,918 15,600 12,550 1,194,478 2,779 29 217 702 10,122 50 50 56 86 50 7.90 10.93 9.46 9.12 7.85 0.32 0.89 0.24 0.72 0.29 6.99-8. 06 9.17-11. 57 8.47-10. 47 7.25-12. 13 6.99-8. 06 78.3 23.3 42.4 67.3 79.2 1.0 0.0 5.0 0.0 0.9 3,242,304 81,289 197,256 161,682 2,802,077 815 35 211 662 6,302 62 23 39 52 65 8.17 8.70 8.52 8.20 8.13 0.21 0.20 0.05 0.15 0.24 7.64-9. 04 8.03-8. 87 7.98-9. 04 7.71-8. 77 7.64-9. 04 85.2 86.0 89.7 94.3 84.3 5.7 0.7 7.2 11.6 5.4 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+ 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 5* | LOAN RATE (PERCENT) DAYS 1 EFFECTIVE 3/ NOMINAL 9/ PRIME RATE 10/ 2. LOANS MADE BELOW PRIME 11/ OVERNIGHT 7/ 12,118,445 10,976 X 6 .69 6.47 7 .50 80 .1 1 3 ONE MONTH AND UNDER (EXCL OVERNIGHT) 5,718,113 6,128 17 6 .76 6.55 7 .50 79 .0 4 3 OVER ONE MONTH AND UNDER A YEAR 3,718,708 5,801 134 6 .77 6.58 7 .50 80 .9 7 .1 DEMAND 1,215,213 4,096 X 6 .57 6.43 7 50 62 3 1 .0 7,654 28 17 129 6 .71 6 6 :8 i:i! 7 7 :li 7 50 II:! 3 .0 2 .6 5 .7 6 90 7 01 6 80 6.76 6.91 6.61 7 50 7, 7. 18 Si: 4 .5 0 0 8, 9 8/ TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE 22,770,479 20,027,982 2,742,497 l:llI 1 MONTHS TOTAL ONE YEAR AND OVER -FIXED RATE -FLOATING RATE SEE LAST PAGE FOR FOOTNOTES 1,373,605 674,229 699,376 5,719 8,960 4,240 4* 50 48 1 1 4 2 5 PRIME DOMESTIC PRIME PRIME DOMESTIC DOMESTIC PRIME PRIME PRIME PRIME PRIME E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 3-7, 19*6 TABLE 3 COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY OTHER BANKS LOAN CHARACTERISTICS AMOUNT OF LOANS ($1,000) AVERAGE WEIGHTED AVERAGE AVERAGE STANDARD SIZE ($1,000) MATURITY EFFECTIVE ERROR 4/ 3/ 2/ 1/ PERCENTAGE OP AMOUNT LOAN RATE (PERCENT) INTERWEIGHTED QUARTILE RANGE 5/ MOST COMMON BASE PRICING COMMITMENT PARTICIPATION RATE 6/ OF LOANS MADE UNDERt DAYS 1. ALL C 4 I LOANS 5,499,979 4,783 X 6.62 0.02 6.45-6.71 74.3 1.2 ONE MONTH AND UNDER CEXCL OVERNIGHT) -FIXED RATE -FLOATING RATE 2,600,692 1,531,398 1,069,294 222 208 248 20 20 19 7.52 7.34 7.77 0.28 0.30 0.34 6.49-8.05 6.49-7.63 6.38-8.84 70.5 69.1 72.4 16.3 9.0 26.8 PRIME OTHER PRIME OVER ONE MONTH AND UNDER A YEAR -FIXED RATE -FLOATING RATE 4,317,742 1,674,066 2,643,676 55 43 68 152 128 167 8.69 8.59 8.75 0.14 0.25 0.11 7.71-9.42 6.94-10.35 7.76-9.38 59.5 42.6 70.2 11.1 18.4 6.5 PRIME OTHER PRIME DEMAND 8/ -FIXED RATE -FLOATING RATE 3,196,069 748,874 2,447,195 116 331 97 X X X 8.24 7.06 8.59 0.12 0.31 0.03 7.70-8.84 6.41-7.11 7.76-9.11 85.3 95.7 82.1 6.4 7.2 6.1 PRIME FED FUNDS PRIME 15,614,483 132 58 7.67 0.14 6.56-8.57 71.8 7.5 PRIME 9,317,075 287,127 156,436 184,229 498,169 120,999 8,070,115 186 8 32 64 211 676 5,452 29 107 109 115 144 76 16 7.13 11.28 10.26 10.25 9.33 7.49 6.71 0.11 0.23 0.38 0.28 0.26 0.12 0.05 6.50-7.11 9.93-12.56 8.84-11.73 8.87-11.58 8.27-10.47 6.82-7.76 6.45-6.85 69.4 18.3 32.8 16.4 47.0 82.8 74.3 6.0 0.0 0.1 0.8 0.6 4.3 6.8 FED FUNDS OTHER PRIME PRIME PRIME OTHER FED FUNDS 6,297,408 345,816 377,056 604,075 1,689,824 759,286 2,521,351 92 9 34 65 192 632 3,110 120 161 164 161 144 181 72 8.48 9.77 9.61 9.35 8.80 8.51 7.70 0.10 0.08 0.15 0.14 0.08 0.08 0.18 7.76-9.32 8.84-10.47 8.84-9.95 8.57-9.92 8.03-9.38 7.76-9.11 6.58-8.33 75.4 69.9 72.6 69.9 73.8 79.9 77.7 9.7 4.6 4.8 1.9 5.3 6.6 16.8 PRIME PRIME PRIME PRIME PRIME PRIME PRIME 2,163,968 105 8.54 0.28 7.71-9.38 62.5 15.0 PRIME 570,122 137,465 116,832 45,046 270,779 59 15 192 694 4,319 53 45 88 53 43 8.48 11.37 9.49 10.14 6.29 0.58 0.24 0.29 0.56 1.04 6.72-10.52 9.50-12.47 8.30-10.75 9.79-11.02 4.75-8.43 44.6 19.4 22.6 8.7 72.8 4.0 0.0 19.3 0.0 0.0 OTHER OTHER OTHER PRIME OTHER 1,593,846 192,586 366,150 289,247 745,862 144 23 185 647 3,766 40 43 50 45 32 8.56 9.71 8.94 8.66 8.04 0.23 0.15 0.18 0.10 0.37 7.76-9.31 8.84-10.47 8.30-9.42 7.79-9.38 7.45-8.77 68.9 44.5 52.9 66.2 84.1 19.0 1.3 5.8 10.8 33.3 PRIME PRIME PRIME PRIME PRIME 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+ 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+ 1 MONTHS 45 DAYS 1 LOAN RATE (PERCENT) EFFECTIVE NOMINAL 3/ 9/ PRIME RATE 10/ 2. LOANS MADE BELOW PRIME 11/ OVERNIGHT 7/ 5,454,273 7,251 X 6 .61 6 .40 7.50 74 .1 1 .4 ONE MONTH AND UNDER (EXCL OVERNIGHT) 1,695,517 1,947 17 6 .69 6.48 7.56 75 .4 18 .7 OVER ONE MONTH AND UNDER A YEAR 1,109,780 237 101 6 .97 6 .77 7.93 62 .8 32 .1 845,559 1,665 X 6 .74 6 .56 7.53 97 .7 6 9 6 .68 6 .67 6 .75 6 .47 6 .46 6 .54 6 .54 5 .99 7 .03 6 34 5 .80 6 .81 DEMAND 8/ TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE 9,105,129 7,929,609 1,175,520 1,336 ''III * | TOTAL ONE YEAR AND OVER -FIXED RATE -FLOATING RATE SEE LAST PAGE FOR FOOTNOTES 554,151 260,864 293,287 399 in 1 MONTHS §5 43 FED FUNDS 1 1 IS 11:! 1:11 11: 0 5 5 8 9 7 1 20 6 39 6 8 3 67 5 E 2 SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 3-7, 1986 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 BY SIZE ($1,000) 1-24 25-49 50-99 100-499 500+ BY TYPE OF CONSTRUCTION SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL 2. LARGE BANKS L 1/ AVERAGE SIZE # ($1,000) WEIGHTED AVERAGE MATURITY (MONTHS) 2/ LOAN RATE (PERCENT? INTER- WEIGHTED AVERAGE EFFECTIVE 3/ 1,824,092 112 9 8.84 866,332 58,913 V 5 7 8.79 12.29 11.91 11.61 10.44 8.02 33,614 683,153 . J i 957,760 49,853 32,736 49,785 242,978 582,408 183 1,959 408,526 231,210 1,184,355 109 9 32 11 11 4 14 10 8 9 12 15 S B 8.85 8.74 III 13 8 9 9.93 8.26 8.57 1,052,717 838 7 646,615 1,470 2,297 10 3 7 37 8.87 STANDARD ERROR 4/ 0.26 lit !:!? 0.50 0.22 0.16 0.16 0.28 0.18 QUARTILE RANGE 5/ PERCENTAGE OF AMOUNT OF LOAMS MADF lllinFB. COMMITMENT 7.90-9.38 78.6 7.90-9.11 11.57-12.40 11.03-12.40 10.43-13.49 9.65-11.58 7.86-8.17 83.3 PARTICIPATION 17.2 1 1 1 ! 90.2 1! 8.30-9.38 8.87-18.20 8.84-9.78 8.84-9.92 8.57-9.65 8.03-9.38 »:• !!:i§ 0.19 8.84-11.03 7.72-8.57 7.90-9.06 76.2 64.6 82.1 8.25 0.17 7.85-8.57 86.1 22.8 7.99 10.49 0.47 0.55 7.86-8.05 9.92-11.02 * * U:l III 8:» 74.3 83.8 74.9 2.2 2I.I FIXED RATE BY SIZE C$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+ * X 638,358 7,167 3 7*98 0.02 7.86-8.05 X X X 91.4 406,102 3,612 4,086 6,562 57,411 334,430 417 10 34 71 209 2,350 12 13 16 17 13 12 8.67 9.08 9.06 0.17 0.21 8.61 0.14 0.20 7.76-9.11 8.57-9.38 8.30-9.84 8.30-9.38 8.57-9.38 7.76-9.06 78.1 93.4 81.8 94.6 88.6 75.8 < 1 BY TYPE OF CONSTRUCTION SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL 52,643 206,224 793,850 123 940 1,305 13 7 6 i:i! 0.19 0.20 0.13 8.84-9.38 7.72-8.24 7.90-8.43 78.9 63.6 92.4 29.4 OTHER BANKS 771,375 51 14 9.63 0.38 8.84-9.96 68.4 9.6 0.53 0.48 0.78 0.52 0.79 9.84-12.13 11.58-12.57 11.03-12.40 10.47-13.49 10.47-11.58 X 60.5 71.1 71.4 15.8 87.0 X 0.0 0.1 0.0 0.0 0.0 X 1/ M i 9.08 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+ 219,717 57,443 36,753 52,495 28,231 30 11 37 71 174 11 7 13 19 10 11.15 12.34 11.95 11.62 10.83 551,658 46,240 28,649 43,224 185,567 247,978 70 9 32 til 176 1,599 15 10 7 8 21 BY TYPE OF CONSTRUCTION SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL 355,883 24,986 390,505 33 58 100 13 9 16 9.27 8.83 8.92 10.06 11! o.'il oil? 8.84-9.42 9.11-10.25 8.84-9.77 8.84-9.92 8.69-9.92 8.84-9.38 0.58 0.29 0.26 8.84-11.58 8.30-9.84 8.84-9.42 0.13 0.44 0.09 NOTE, 47.9 PERCENT OF CONSTRUCTION AND LAND DEVELOPMENT LOANS HERE PRICED RELATIVE TO THE PRIME RATE SEE LAST PAGE FOR FOOTNOTES * FEWER THAN 10 SAMPLE LOANS. m 71.3 78.6 63.9 ?!:! 61.3 X X X 33.5 1:1 8.5 '?:} !:! 24.0 M (thousands) ALL BANKS Amount of loans (thousands* Number of loans. Weighted average maturity (months)2 Weighted Standard error* Interquartile By purpose of loan: rate (S) 3 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 LARGE BANKS11 Amount of loans (thousands) Number of loans Weighted average maturity (months)2 Weighted average Intereet rate (%)» Standard error4 Interquartile range8 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 BANKS" Amount of loans (thousands) Number of loans Weighted average maturity (months)* Weighted average Interest rate (%)' Standard error4 Interquartile range8 By purpoee of loan: Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real eetate 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 real estate Other See last page for notes to tables •Fewer than 10 sample loans $25-40 $10-24 $250 and over $100-240 iM sizes si-e $9By,660 44,034 8-3 $97,735 27,209 5.5 $135,549 8,952 7.4 $118,401 3,460 7.9 $181,806 2,732 12.1 $187,495 1,285 5.5 $268,674 397 9.4 10.97 .49 9.65-12.01 11.87 .29 11.07-12.68 11.35 .41 10.52-12.10 11.34 .58 10.59-12.35 10.99 .*6 10.20-12.10 10. n .26 9.31-12.26 9.98 .39 8.30-11.35 10.77 10.65 11.10 11.93 9.96 10.20 11.78 11.81 11.77 12.80 10.72 12.11 11.14 11.64 11.40 11.83 10.98 10.75 11.70 11.40 11.11 10.97 10.20 11.28 11.09 9.76 10.92 10.71 10.97 10.97 10.77 54.5 1>1.6 43.4 32.7 39.4 29.3 43.4 32.0 41.2 38.4 57.1 55.3 78.3 84.7 31.4 6.8 46.5 2.7 1.1 11.4 15.2 8-2 59.5 7.0 .7 9.4 16.9 9.0 47.0 13.1 3.1 11.0 37.3 9.8 42.9 • 41.4 9.7 36.7 39.9 4.8 41.7 29.4 e 53.0 8.6 11.3 13.0 $248,210 4,206 6.6 $7,495 1,848 6.7 $13,919 907 6.7 $16,951 500 5.8 $25,512 392 5.8 $57,607 394 6.5 $126,726 164 7.0 8.88 .45 8 . 12- 9 . $ 8 9.90 .25 9.00-10.38 9.67 .37 8.84-10.20 9.34 .56 8.78- 9.93 9 . 19 .39 8.77- 9.65 8.96 .14 8.30- 9.58 8.58 .34 7.90- 9.31 S . 82 9.11 8.94 10.09 9.15 8.69 9.30 9.57 10.03 10.87 10.60 9.68 9 . 46 1 0 . 09 9.64 10.14 9.45 8.96 9.43 9 . 14 8.99 9.50 9.18 9.12 8.77 9.57 • 8.53 9.66 9.07 9-13 8.90 83.1 dO. 9 84.2 71.4 83.2 69.6 92.7 80.4 98.+ 90.2 96.9 92.0 72.3 75.9 31.0 9.0 32.7 1.2 2.9 zJ. 1 18.7 3.6 53.5 4.5 5.6 14.0 11.5 5.0 56.2 4.8 19.2 9.7 47. d 22.7 16.7 22.7 30.4 11.5 40.5 37.4 20.6 17.2 31.6 15.5 • $741,451 39,828 8.6 $90,240 25,361 5.4 $121,630 8,045 7.4 $101,450 2,960 8.2 $156,294 2,340 12.8 $129,889 891 5.1 $ 11.54 .18 11.04-12.22 12.04 .13 11.31-12.73 11.54 .15 1 1 . 0 4 - 1 2 . 23 11.67 .11 11.05-12.44 11.27 .53 1 0 . 5 2 - 1 2 . 13 11.75 .21 11.78-12.36 12.03 11.88 11.90 12.90 11.26 11.73 11.65 11.90 11.68 11- 12 11.41 11.42 11.56 1 j . 16 $ $ * $ * m-m $ * $ * * # $ # $ * * $ $ * 11.43 * $ * # 35.2 24.0 31.8 29.9 31.6 6.1 51.1 3.3 14.9 8.5 60.0 7.2 » 9.0 17.5 9.4 46.0 14.0 40.3 44.5 7.1 # * 25.4 • * • * • * $ . $ 34.4 24.7 9.9 # $ 40.0 29.5 7.5 • e 45.0 41.8 * * • * 11.74 42.1 » • $ * $ 11.45 • 11.00 * * * # * $ * * * 12.42 • * $ • * * * * 11.77 • $ * 9 . 48 $ 39.0 # • • 39.4 39.0 » • $ • $ * * * * * s # * $ • •
@FedFRASER