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FEDERAL RESERVE statistical release V E.2 SURVEY OF TERMS OF BANK LENDING FOR IMMEDIATE RELEASE July 20, 1987 Note to Users An edit examination of commercial and industrial loan data for the May 1987 Survey revealed instances of loan misclassification. Corrections have increased the reported volume of demand loans—loans with no stated maturity— and decreased the reported volume of loans with maturities of one year and over. In addition, average rates on demand loans have been increased by these corrections. LIBRARY J U L 2 81987 FEDERAL RESERVEDA N K OF PHILADELPHIA / M m ; . , FEDERAL RESERVE statistical release FOR I M M E D I A T E R E L E A S E J U L Y 20, 1987 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 M A Y 4 - 8 , 1987 TABLE 1 COMMERCIAL AND INDUSTRIAL L O A N S (OTHER T H A N C O N S T R U C T I O N A N D L A N D D E V E L O P M E N T ) M A D E BY ALL C O M M E R C I A L B A N K S LOAN AAtfc tmtttm 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) 1 Wfeldriteo SIZE 2/ MOSt COMMON I BASE I | P R I C I N G COMMITMENT PARTICIPATION| RATE OF L O A N S M A D E UNDER« INTER- QUARTILE RANGE 5/ AVERAGE I STANDARD [ EFFECTIVE1 ERROR 3/1 4/ 1/ PERCENTAGE OP AMOUNT* I 6/ DAYS 1. ALL C & I L O A N S OVERNIGHT 7/ 12,546,920 6,266 X 7 .71 0.07 7.39-7.92 83.3 3.3 FED FUNDS ONE M O N T H A N D UNDER (EXCL O V E R N I G H T ) -FIXED RATE -FLOATING RATE 8,542,289 7,107,176 1,435,113 730 1,161 257 15 15 18 7 .91 7 .78 8 .55 0,09 0.07 0.12 7.47-8.10 7.45-7.99 7.80-9.12 78.9 79.1 77.8 9.3 9.9 6.0 DOMESTIC DOMESTIC PRIME OVER O N E M O N T H A N D UNDER A Y E A R -FIXED RATE ^FLOATING RATE 9,707,040 3,595,494 6,111,546 116 105 124 153 99 184 8 .94 8 .73 9 .07 0.16 0.22 0.14 8.05-9.75 7.83-9.38 8.30-9.75 71.1 65.0 74.6 7.8 9.6 6.7 PRIME OTHER PRIME DEMAND 8/ -FIXED RATE -FLOATING RATE 9,016,066 946,250 8,069,816 228 494 215 M X X 8 .54 7 .54 8 .65 0.15 0.52 0.12 7.63-9.38 7.35-8.00 7.83-9.38 68.9 91.7 66.2 4.5 10.5 3.8 PRIME OTHER PRIME 39,812,315 291 53 8 .24 0.13 7.53-8.77 76.1 5.9 PRIME 24,040,604 232,461 125,402 164,268 403,193 343,933 22,771,346 541 7 32 70 188 664 7,907 21 100 102 123 83 54 17 7 .87 11 .34 10 .47 11 .48 9.40 8 .20 7 .76 0.11 0.24 0.23 0.40 0.22 0.14 0.05 7.45-8.06 10.25-12.46 9.65-11.35 9.36-11.83 8.24-9.96 7.76-8.87 7.45-8.01 80.0 20.1 18.2 23.0 43.1 66.3 82.3 6.4 0.2 0.1 7.7 6.3 4.4 6.5 FED FUNDS PRIME PRIME PRIME PRIME DOMESTIC FED FUNDS 15,771,712 441,256 491,451 829,119 2,832,086 1,274,096 9,901,705 171 10 33 67 191 642 4,708 150 155 144 169 164 151 143 8 .81 10 .17 9 ,81 9 .57 9 ,27 9..07 8,,47 0.13 0.15 0.11 0.10 0.06 0.06 0.12 8.17-9.58 9.38-10.79 9.11-10.47 8.84-10.11 8.51-9.92 8.30-9.65 7.59-9.11 70.1 68.5 71.0 73.3 76.9 79.9 66.6 5.3 1.4 1.6 1.8 3.9 9.9 5.7 PRIME PRIME PRIME PRIME PRIME PRIME PRIME 5,382,322 242 51 8.92 0.14 8.03-9.79 81.7 11.6 1,048,728 143,720 102,823 66,977 735,208 116 17 176 667 4,799 60 39 51 49 66 8.94 11.22 10.20 9.24 8.29 0.33 0.37 0.20 0.21 0.37 7.60-10.24 10.00-11.85 9.65-11.02 8.84-9.92 7.38-8.75 68.5 13.8 15.7 37.7 89.4 6.6 3.0 0.9 3.6 8.4 4,333,595 268,137 588,187 248,699 3,228,572 330 29 203 668 5,285 48 42 49 47 49 8.92 10.08 9.34 9.01 8.74 0.13 0.13 0.09 0.13 0.12 8.24-9.65 9.31-10.75 8.57-9,92 8.30-9.58 7.90-9.58 84.9 44.5 57.7 84.3 93.2 12 9 1.3 4.9 17.8 14.9 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 ONE 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+ w LOAN kAtt (PERCENT) Elective I NOMINAL 3/ I 9/ PRIME RATE 10/ 2. LOANS M A D E B E L O W P R I M E 11/ 10,989,619 9,676 ONE M O N T H A N D UNDER (EXCL O V E R N I G H T ) 6,713,199 4,475 OVER O N E M O N T H A N D UNDER A YEAR 3,146,517 489 DEMAND 3,044,396 2,389 OVERNIGHT 7/ 8/ TOTAL UNDER O N E Y E A R -FIXED RATE -FLOATING RATE 23,893,731 19,885,597 4,008,134 SEE LAST P A G E FOR F O O T N O T E S 1,682,269 505,978 1,176,291 8.00 86.8 4.9 14 7.62 7.35 8.00 81.5 9.6 114 7.76 7.53 8.08 79.9 10.2 7.42 7.19 8.00 38.3 2.6 7.59 7.59 7.57 ?:8 8.01 8.00 78.2 83.5 52.3 6.6 7.66 7.48 7.73 7.43 7.31 7.49 8.09 96.8 96.4 97.0 14.1 5.4 17.8 126 857 1,476 2,151 1,300 7.30 23 13 1:111 j TOTAL ONE Y E A R A N D O V E R -FIXED RATE -FLOATING RATE 7.57 7.34 8.05 7.4 3.0 MONTHS 3TT 67 43 8.00 8.12 PRIME DOMESTIC PRIME PRIME PRIME FOREIGN PRIME PRIME PRIME PRIME PRIME E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING MAY 4-8, 1987 TABLE 2 COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY LARGE BANKS LOAN CHARACTERISTICS 1 I AMOUNT OF LOANS ($1,000) 1 I I I ! LOAN RATE (PERCENT) WEIGHTED INTER- AVERAGE WEIGHTED SIZE I AVERAGE AVERAGE STANDARD ($1,000) MATURITY EFFECTIVE ERROR 3/ 4/ 1 1/ PERCENTAGE OF AMOUNT QUARTILE RANGE 5/ MOST DAYS 1. ALL C 8 I LOANS OVERNIGHT 7/ 9,774,641 9,486 X 7 .75 0,,09 7.45-8 .00 80.3 3 .0 ONE MONTH AND UNDER (EXCL OVERNIGHT) -FIXED RATE -FLOATING RATE 6,271,095 5,498,448 772,647 2,832 5,533 633 15 15 17 7 .80 7..74 8 ,26 0. 08 0. 07 0. 10 7.47-8 .05 7.46-7 .98 7.70-8 .32 80.8 79.7 89.1 9 .4 10 .1 4 .5 DOMESTIC DOMESTIC PRIME OVER ONE MONTH AND UNDER A YEAR -FIXED RATE -FLOATING RATE 4,830,878 2,012,892 2,817,986 500 1,362 344 133 88 166 8 .55 8 .40 8 .65 0..12 0..13 0. 17 7.75-9 .20 7.76-9 .20 7.71-9 .38 81.8 71.7 89.0 6 .5 8 .5 5 2 PRIME DOMESTIC PRIME DEMAND 8/ -FIXED RATE -FLOATING RATE 5,868,748 513,474 5,355,274 563 1,967 527 X X X 8 32 7 .08 8.44 0. 25 0. 96 0. 21 7.50-9 .04 7.34-7 .80 7.56-9 .11 59.9 88.3 57.2 2 ,0 6 ,7 1 ,6 PRIME OTHER PRIME 26,745,362 1,146 36 8,.03 0..11 7.50-8 .33 76.2 5 ,0 FED FUNDS 17,644,223 7,398 7,156 15,582 90,627 144,189 17,379,271 4,723 9 33 67 218 660 9,506 16 103 84 69 47 37 15 7 .79 10 .00 9 ,71 9 .17 8 .62 8 .25 7 .78 0. 06 0. 24 0. 36 0. 14 0. 13 0. 08 0. 06 7.46-8 .06 9.06-10 .52 8.80-10.43 8.33-9 .57 8.06-9 .31 7.79-8 .60 7.46-8 .06 79.9 39.3 41.5 45.2 71.5 85.1 79.9 5 ,9 1 ,6 0 .7 0 .0 1 ,4 0 ,0 5 ,9 FED FUNDS PRIME PRIME PRIME PRIME DOMESTIC FED FUNDS 9,101,140 79,047 104,122 194,756 886,272 560,175 7,276,768 464 11 34 67 203 654 6,100 128 164 148 169 140 138 124 8 .50 9..77 9 .64 9 .42 9.,16 9 .00 8 33 0. 18 0. 21 0. 17 0. 15 0. 11 0. 09 0. 18 7.59-9 .11 8.84-10 .47 8.84-10 .47 8.58-9 96 8.31-9 .71 8.30-9,.58 7.50-8 .84 69.1 81.0 80.3 84.2 81.9 85.1 65.7 3 2 0. 2 0 .5 1,,0 1,8 3 9 3. 5 PRIME PRIME PRIME PRIME PRIME PRIME PRIME 3,649,401 1,284 |MONTHS 55 8 .67 0. 13 7.65-9 .42 94.0 13..1 561,262 5,812 11,454 7,760 536,236 1,422 25 176 650 6,220 70 43 60 48 71 8 .56 10 .98 10 .42 8 .61 8 .29 0 ,59 0,.76 0,.26 0, 69 0. 62 7.36-8 .75 9.65-12 .40 9.92-10 .88 7.87-9 .06 7.36-8 .75 91.5 35.2 37.8 78.7 93.5 3 5 4 3 0 .0 0. 0 3. 7 FOREIGN PRIME OTHER FED FUNDS FOREIGN 3,088,138 36,580 155,661 132,629 2,763,268 1,261 33 225 660 6,083 49 35 45 53 49 8 .73 9 ,61 9 ,11 8 ,97 8 ,69 0. 11 0. 17 0 .07 0. 27 0. 11 7.90-9 .44 8.84-10,.20 8.33-9 .58 8.30-9 .44 7.76-9.38 94.4 71.1 88.2 91.9 95.2 14..8 3. 8 8 .0 18. 4 15. 2 PRIME PRIME PRIME PRIME PRIME 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) NOMINAL J/ " 1! EFFECTIVE 11 2. LOANS MADE BELOW PRIME 11/ OVERNIGHT 7/ PRIME RATE 10/ 8,342,226 11,326 X 7.60 7.33 8 ,00 84.6 3 ,6 ONE MONTH AND UNDER (EXCL OVERNIGHT) 5,202,665 6,810 15 7.62 7.36 8 .00 79.9 9 ,7 OVER ONE MONTH AND UNDER A YEAR 2,282,506 2,121 115 7.68 7.45 8 .00 83.5 6 ,7 DEMAND 8/ 2,529,629 6,112 X 7.39 7.15 8 .00 26.3 1 ,1 TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE 18,357,026 14,969,505 3,387,521 6,139 8,008 3,022 22 12 133 7.59 7.61 7.50 ?:S 7.27 8 .00 8 .00 8 .00 11} 46.1 ,3 1 ,1 2 ,0 1,372,919 365,728 1,007,191 5,304 6,696 4,931 7.59 7.41 7.65 7.37 8 .00 8 .00 8 .00 ! 1 TOTAL ONE YEAR AND OVER -FIXED RATE -FLOATING RATE SEE LAST PAGE FOR FOOTNOTES MONTHS 51 78 42 FED FUNDS I DAYS 1 I ! COMMON ; BASE I PRICING; COMMITMENT!PARTICIPATION RATE 1 6/ i OF LOANS MADE UNDER; 99.7 100.0 99.6 12 ,4 0 ,0 16 ,9 PRIME E.2 SURVEY OF TERMS OF BANK LENDING M A D E DURING M A Y 4-8, 1987 TABLE 3 COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION A N D LAND DEVELOPMENT) M A D E BY OTHER BANKS LOAN CHARACTERISTICS AMOUNT OF LOANS ($1,000) LOAN RATE (PERCENT) 1 INTER- A V E R A G E WEIGHTED WEIGHTED SIZE AVERAGES A V E R A G E STANDARD ($1,000) MATURITY EFFECTIVE ERROR 3/ 2/ 4/ 1/ PERCENTAGE OP AMOUNT OF LOANS M A D E UNDERt MOST f COMMON BASE PRICING C O M M I T M E N T PARTICIPATION RATE 6/ QUARTILE RANGE 5/ DAYS OVERNIGHT 7/ 2,772,278 2,852 ONE MONTH AND UNDER (EXCL OVERNIGHT) -FIXED RATE -FLOATING RATE 2,271,194 1,608,728 662,466 IS OVER ONE MONTH AND UNDER A YEAR -FIXED RATE -FLOATING RATE 4,876,162 1,582,602 3,293,560 DEMAND 8/ -FIXED RATE -FLOATING RATE 3,147,318 432,777 2,714,542 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+ 15 14 19 152 66 172 114 48 80 200 7.54 0.10 7.32-7.79 93.7 4.2 FED FUNDS 7193 8.90 o 1 ii 0.14 7.46-8.57 7.45-8.01 8.30-9.66 64.6 77.1 8.7 9.2 7.6 DOMESTIC DOMESTIC PRIME i:S 0.15 0.30 0.09 8.30-9.89 7.98-9.85 8.77-9.89 60.4 56.4 62.3 ll.*0 8.93 0.09 0.32 8.30-9.65 7.36-8.30 8.30-9.92 85.6 95.7 84.0 9.0 14.9 9.42 108 8.08 0.06 9.06 8.1 8.1 PRIME PRIME PRIME PRIME FED FUNDS PRIME 13,066,953 115 88 8.66 0.16 7.64-9.38 75.8 8.0 PRIME 6,396,381 225,064 118,246 148,686 312,566 199,744 5,392,075 157 7 32 70 181 667 5,126 34 100 103 128 93 67 23 8.07 11.38 10.52 11.72 9.62 8.16 7.69 0.19 0.15 0.24 0.70 0.31 0.29 0.07 7.45-8.13 10.38-12.47 9.65-11.58 9.39-12.13 8.26-10.47 7.64-9.04 7.42-7.96 80.5 19.5 16.8 20.7 34.8 52.6 89.7 7.9 FED FUNDS PRIME PRIME PRIME PRIME PRIME FED FUNDS 6,670,572 362,209 387,329 634,363 1,945,814 715,920 2,624,937 92 9 33 67 185 633 2,884 170 154 143 168 172 159 177 9.22 10.25 9.85 9.61 9.32 9.13 8.85 0.06 0.12 0.12 0.12 0.04 0.09 0.14 8.32-9.89 9.38-10.92 9.17-10.47 8.87-10.20 8 57-9.92 8.30-9.65 8.30-9.65 71.4 65.8 68.6 70.0 74.6 75.9 69.3 1,732,922 89 —ST 9.44 0.14 8.30-9.96 55.8 487,466 137,907 91,369 59,217 56 17 176 669 48 39 50 49 54 9.61 11 23 10.17 9.32 8.31 0.30 8.06-10.75 10.00-11.85 9.65-11.02 8.84-9.92 7.58-8.75 42.0 12.9 13.0 32.3 78.4 21.1 46 43 51 41 46 9.38 10.15 9.43 9.05 9.03 8.33-9.92 9.38-11.02 8.83-9 92 8.30-9.65 8.30-9.84 61.2 8.0 l!:i ii:i 0.1 0.1 7.5 8.4 !:? 1.9 2.1 4.9 14.6 11.8 PRIME PRIME PRIME PRIME PRIME PRIME PRIME MONTHS TOTAL ONE YEAR A N D OVER -FIXED RATE BY SIZE ($1,000) l-?9 100-499 500-999 1 -FLOATING ^ BY SIZE ($1,000) 1-99 100-499 500-999 1000+ 198 972 ' 1,245,456 231,557 432,526 116,069 465,304 2 ' 9?1 116 28 196 678 2,969 ~mr 0.18 0.28 0.14 0.33 0.14 0.19 0.15 0.08 0.22 I LOAN RATE (PERCENT> I I I EFFECTIVE I NOMINAL 2. LOANS M A D E BELOW PRIME 11/ OVERNIGHT 7/ 2,647,393 6,631 1,510,534 2,052 OVER ONE MONTH AND UNDER A YEAR 864,011 161 DEMAND 514,767 598 5,536,705 4,916,092 620,613 753 1,296 175 ONE MONTH AND UNDER (EXCL OVERNIGHT) 8/ TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE TOTAL ONE YEAR AND OVER -FIXED RATE -FLOATING RATE SEE LAST PAGE FOR FOOTNOTES 309,351 140,250 169,101 351 777 241 1:1 4.0 0.9 PRIME RATE 10/ 7.49 7.22 8.00 93.7 9.0 11 7.59 7.33 8.01 87.1 9.6 113 7.97 7.72 8.31 70.4 19.6 7.57 7.36 8.02 97.3 10.0 7.60 7.55 7.96 7.34 8.05 88.6 10.9 24 17 103 J L . 40.3 8.6 8.01 8.35 88.9 85.7 11.2 8.4 MONTHS 43™ 38 48 7.97 7.66 8.23 ?:5I 7.94 8.47 8.00 8.85 81.6 21.7 19.6 23.4 PRIME PRIME PRIME PRIME PRIME DOMESTIC PRIME PRIME PRIME PRIME PRIME i I ; : SURVEY OF TERMS OF BANK LENDING MADE DURING MAY 4-8, 1987 TABLE 4 CONSTRUCTION AND LAND DEVELOPMENT LOANS (SECURED AND UNSECURED BY REAL ESTATE) AMOUNT | AVERAGE OF LOANS I SIZE (*1,000) j (*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 1/ WEIGHTED AVERAGE MATURITY (MONTHS) 2/ LOAN RATE (PEFTCENY) WEIGHTED | 1 AVERAGE I STANDARD EFFECTIVE ERROR I 3/ 4/ TNTTTQUARTILE RANGE 5/ PERCENTAGE dF AMOUNT OF LOANS MADE UNDER» COMMITMENT PARTICIPATION| 2,605,961 161 16 9.13 0.15 8.42-9.59 71.7 20.6 803,407 35,897 33,910 69,670 27,240 636,690 133 9 38 80 187 10,274 7 9 20 27 21 3 8.70 11.06 10.32 11.85 9.39 8.10 0.36 0.31 0.28 0.54 0.39 0.36 8.03-9.59 10.25-12.13 10.47-10.52 10.52-14.53 7.76-10.47 7.10-8.84 52.7 76.5 47.3 39.2 63.7 52.6 2.5 0.0 0.8 0.0 0.0 3.1 1,802,554 54,012 52,700 100,369 275,807 1,319,666 177 10 34 70 208 3,188 20 9 8 11 16 22 9.33 10.15 9.71 9.85 9.49 9.20 0.07 0.14 0.10 0.09 0.08 0.09 9.11-9.65 9.38-10.47 9.23-10.38 9.24-10.47 9.11-9.92 8,84-9.38 80.2 77.6 73.1 63.6 69.3 84.1 28.7 1.6 2.4 1.6 12.1 36.4 664,241 85,342 1,856,378 62 128 387 9 16 19 9.24 9.38 9.08 0.21 0.11 0.19 8.06-9.92 9.32-9.65 8.78-9.41 84.8 84.3 66.4 10.3 7.3 24.9 1,646,333 1,242 18 8.76 0.12 8.30-9.38 78.5 17.5 617,664 888 3,745 11 1 10 8.04 9.77 0.52 0.29 7.10-8.84 11.02-9.92 52.1 79.1 3.2 1.8 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+ 611,879 14,754 1 8.03 0.63 7.10-8.84 51.9 3.2 1,028,668 4,027 4,915 10,972 77,098 931,656 886 11 36 75 226 5,036 26 10 9 11 13 28 9.20 9.67 9.54 9.45 9.47 9.17 0.10 0.20 0.18 0.10 0.09 0.11 8.84-9.38 9.38-10.47 9.38-9.92 9.38-9.65 9.27-9.92 8.84-9.38 94.3 80.2 71.3 81.1 92.1 94.9 26.0 2.6 3.8 2.9 9.0 27.9 BY TYPE OF CONSTRUCTION SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL 269,433 59,341 1,317,558 782 251 1,769 4 19 21 8.46 9.42 8.79 0.41 0.16 0.15 8.06-9.11 9.32-9.65 8.42-9.38 95.6 94.6 74.3 12.4 2.7 19.2 959,629 65 13 9.77 0.18 9.38-10.38 60.0 26.0 3. OTHER BANKS 1/ X X X X X X X * X X X X X X X X X X X X X X X X 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+ 185,742 35,008 33,286 69,412 23,225 32 9 38 80 185 23 9 20 27 19 10.89 11.09 10.33 11.86 9.45 0.37 0.25 0.35 0.70 0.44 10.14-11.60 10.25-12.13 10.47-10.52 10.52-14.53 7.76-10.47 54.5 76.4 46.5 38.9 62.8 0.0 0.0 0.0 0.0 0.0 773,886 49,985 47,785 89,396 198,709 388,010 86 10 34 70 201 1,694 11 9 8 12 17 8 9.50 10.19 9.72 9.90 9.50 9.29 0.07 0.15 0.09 0.15 0.14 0.13 9.31-9.92 9.38-10.47 9.23-10.38 9.14-10.47 9.11-9.92 9.38-9.41 61.3 77.4 73.3 61.4 60.5 58.1 32.3 1.5 2.3 1.4 13.3 56.8 BY TYPE OF CONSTRUCTION SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL 394,808 26,001 538,820 38 60 133 13 10 14 9.77 9.30 9.79 0.16 0.11 0.26 9.38-10.47 8.77-9.92 9.38-9.92 77.4 60.8 47.2 8.9 17.7 39.0 X X X X * X NOTE« 65.8 PERCENT OF CONSTRUCTION AND LAND DEVELOPMENT LOANS WERE PRICED RELATIVE TO THE PRIME RATE SEE LAST PAGE FOR FOOTNOTES X FEWER THAN 10 SAMPLE LOANS. X 1 1 X Table 5 LOANS TO FARMERS Sas daas of loan# (thousands) all atass ALL B A N K S Amount of loans (thousands) Number of loans Weighted average maturity (months)* 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 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 expeneea Farm machinery and equipment Farm real estate Other O T H E R BANKS 1 * Amount of loans (thousands) Number of loans Weighted average maturity (months)* 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 machinery and equipment Farm real estate Other See last page for notes to tables •Fewer than 10 sample loans $10-24 $26-46 $50-99 $100-240 $260 and omr $993,589 52,023 22,8 $124,782 33,606 8.2 $154,320 10,685 8.7 $147,788 4,187 13.1 $132,058 2,053 19.1 $124,444 954 10.6 $310,197 538 52.5 10.61 .61 9.84-11.63 11.39 .34 10.73-12.21 11.18 .34 1 0 . 5 0 - 1 2 . 10 11.07 .45 10.38-11.95 10.51 .42 9.89-11. 35 10.62 .56 9.46-12.00 9. 84 .61 9.31-10.02 10.72 9.59 10.94 10.93 11.02 10.00 11.23 10.79 11.44 11.84 9.95 11.67 11.37 10.92 11.25 10.78 10.89 10.21 11.16 10.27 11.21 11.23 * 10.49 11.00 # 10. 3 5 * * 9. 93 10.43 * 11.03 $ * 9.20 10.13 9.19 9 . 72 $ * 9.95 56.0 52.7 49.6 44. 1 44,7 42.9 64.5 42.1 56. 0 33.6 84.3 61.1 48.7 70.9 20.7 6.5 45.8 3.9 2,5 20.6 13.2 3.9 72.6 4.2 2.2 4.0 13.4 4.2 71.6 3.6 2.8 4,3 25.1 4.5 45.2 8.4 * 14.6 27.0 * 42.7 * * 9.9 23.9 $ 56,8 * • 12.8 21,3 13.3 19.5 $ $ 45.9 $254,080 3,925 8,2 $7,227 1,843 7.4 $11,850 792 7.5 $15,256 461 6.7 $23,248 348 6.0 $41,874 279 9.6 $154,625 203 8.5 9.38 .58 9.92 10.27 ,30 9.73-10.75 9,93 .28 9.31-10.51 9.91 .39 9.38-10.47 9.78 . 32 9.29-10.38 9.58 .39 9.00-10.15 9.49 8.64 9.69 10.12 9.77 9.25 10.09 10.56 10.26 10.96 10,50 10,10 9,71 * 9,97 * * 9,73 9.70 $ 9.76 $ 9,91 9.69 * 9. 8 2 * * 9.83 9.53 * * 9.43 95.0 79. 5 87.5 71.8 90,2 73.8 93.6 82.2 90.2 85.3 100.0 81.7 95.1 78.6 27.3 12.9 29.7 1.0 .7 28.4 14. 7 4.0 57.4 5.7 3.5 14.6 15.5 $ 26.9 * 38.5 26.8 $ 39.9 57.5 * * 18.0 * 26.1 35.4 * * 28.2 28.2. # * 24.9 25.5 * 24.9 * * 31.0 $739,508 48,098 25.7 $117,555 31,763 8.2 $142,470 9,893 8.8 $132,531 3,726 13.7 $108,810 1,705 20.8 $82,570 674 10.9 * * • 11.04 .18 10.02-12.00 11.46 .16 10.77-12.25 11.29 .19 10.52-12,13 11.20 .21 10.50-11,95 10.67 .27 10,01-11.78 11.14 .40 10.38-12.08 * * 11.35 10.57 11.18 10.98 11.13 10.41 11.31 10.81 11.52 11.92 9.89 12.10 11.53 10.95 11.34 10.76 $ 11.35 $ 42.6 43.5 18.4 4,3 51.4 4.9 3.1 17,9 Percentage of amount of loans: With floating rates M a d e under commitment By purpose of loan: Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other LARGE B A N K S " Amount of loans (thousands) Number of loans Weighted average maturity (months)2 $i-a 8.78- 9.98 $ # # * 8.51- 9. 13 .44 9.50 9.31 * 9.55 , • • 9 . 03 10,44 11.33 * * 10.62 10,44 • $ $ 11.33 * * * $ * • * e * 47.2 42.4 40.9 40.3 61.1 37.5 48.6 22.6 76.4 50.6 * * 13.1 3.9 73.5 4. 1 2. 1 3.3 13.2 4.3 72.8 3.7 * 3.2 24.9 * 45.9 * * 13.3 44.3 $ # * * * 71.4 * * * • • * * * * # $ * $ * $ 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 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, 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 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.