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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
6,713,199
3,146,517

DEMAND

3,044,396

8.00

86.8

4.9

7.62

7.35

8.00

81.5

9.6

114

7.76

7.53

8.08

79.9

10.2

7.42

489

7.30

14

4,475

OVER O N E M O N T H A N D
UNDER A YEAR

7.57

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

9,676

ONE M O N T H A N D UNDER
(EXCL O V E R N I G H T )

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

23
13

1:111

126

857

j
TOTAL ONE Y E A R A N D O V E R
-FIXED RATE
-FLOATING RATE

SEE LAST P A G E FOR F O O T N O T E S




1,682,269
505,978
1,176,291

1,476
2,151
1,300

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
,0
1,
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 1
1
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

1,3
,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
2,271,194
1,608,728
662,466
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+

66

200

93.7

4.2

FED FUNDS

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

172
114

48

80

7.32-7.79

7193
8.90

15
14
19

152

0.10

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

IS

OVER ONE MONTH AND
UNDER A YEAR
-FIXED RATE
-FLOATING RATE

7.54

2,852

ONE MONTH AND UNDER
(EXCL OVERNIGHT)
-FIXED RATE
-FLOATING RATE

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

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

TOTAL ONE YEAR AND OVER
-FIXED RATE
-FLOATING RATE

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)
a l atass
l
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




$26-46

$50-99

$260 and omr

$100-240

$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

$10-24

$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.