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FEDERAL RESERVE s M m R P r e l e a s e JUN16 1989 • " s a r E.2 FOR IMMEDIATE RELEASE JUNE 13, 1989 SURVEY OF TERMS OF BANK LENDING M A D E DURING M A Y 1-5, 1989 TABLE 1 COMMERCIAL A N D INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION A N D LAND DEVELOPMENT) M A D E BY ALL COMMERCIAL BANKS I LOAN CHARACTERISTICS AMOUNT OF LOANS ($1,000) I LOAN R A T E (PERCENT) A V E R A G E |WEIGHTED) WEIGHTED| T SIZE I A V E R A G E | A V E R A G E |STANDARD! ($1,000)!MATURITY|EFFECTIVE! ERROR f I 2/I 3/1 4/| "! DAYS ! l ' QUARTILE RANGE 5/ ~ 1/ I PERCENTAGE OF AMOUHt I MOST | .1 OF LOANS M A D E UNDER« jCOMMON | I , I BASE I I I | P R I C I N G ! !COMMITMENT I PARTICIPATION I RATE I .! I !_!L! 1. ALL C 8 I LOANS OVERNIGHT 7/ 10.98 0.08 10.65-11.14 65.8 16.6 FED FUNDS 17 17 18 11 .37 11 .19 11 .80 0 14 0 10 0 .24 10.68-11.66 10.68-11.46 10.71-13.24 77.4 72.7 89.2 10.6 9.3 13.7 DOMESTIC DOMESTIC PRIME 112 115 110 137 107 166 12 .24 11 .75 12 .70 0,.16 0,.21 0. 12 11.17-13.24 10.74-12.62 12.02-13.42 75.9 72.4 79.3 15.0 16.5 13.6 19,009,291 1,961,921 17,047,370 279 574 264 X X X 12 .34 11 .14 12 .47 0. 12 0. 14 0. 13 11.40-13.24 10.58-11.49 12.01-13.24 81.5 88.6 80.7 7.2 13.3 6.4 9,048,047 4,504 ONE MONTH AND UNDER (EXCL OVERNIGHT) -FIXED RATE -FLOATING RATE 6,517,757 4,632,654 1,885,103 579 742 375 OVER ONE MONTH AND UNDER A YEAR - F I X E D RATE -FLOATING RATE 9,429,494 4,583,393 4,846,101 DEMAND 8/ - F I X E D 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+ 44,004,589 266 57 11 .89 0. 14 10.84-12.75 76.5 11.3 PRIME 390 7 32 66 218 637 6 ,518 32 97 116 138 129 102 25 11 .22 13 53 13..47 13. 12 12. 62 11..90 11. 10 0. 10 0. 16 0. 22 0. 19 0. 12 0. 15 0. 06 10.65-11.52 12.64-14.63 12.96-13.97 12.36-14.20 12.00-13.39 11.07-12.19 10.65-11.38 71.0 20.8 25.4 44.0 46 .2 80.0 72.8 14.7 0.3 0.0 0.0 1.9 7.5 15.6 FED FUNDS OTHER OTHER PRIME PRIME PRIME FED FUNDS 23,864,126 535,104 588,253 1,004,307 3,911,973 1,960,014 210 10 34 67 199 669 123 169 165 159 154 173 12. 46 13. 67 13. 47 13. 24 13. 01 12. 76 0. 13 0. 11 0. 09 0. 07 0. 05 0. 08 0. 1 4 11.83-13.24 12.96-14.37 12.75-14.17 12.68-13.80 12.19-13.52 12.13-13.24 1 1 . 0 9 - 1 3 . 2 4 81.1 75.3 79.1 82.5 84.2 87 .7 79 .7 8.5 1.4 4.1 2.7 6.0 7.9 9.9 PRIME PRIME PRIME PRIME PRIME PRIME PRIME 1 5 , 8 6 4 , 4 7 6 4,, 6 2 4 101 MONTHS 1 2 . 16 j 4,188,833 228 46 12 .76 0. 10 12.11-13.65 65.2 8.0 PRIME 907,193 143,759 66,851 61,846 634,737 106 18 705 3 ,863 45 36 61 43 46 1 2 .13 13 .16 1 3 .00 1 1 .45 1 1 .88 0. 30 0. 20 0. 27 0. 61 0. 54 10.86-13.30 12.68-14.17 11.79-13.80 10.25-13.65 10.81-12.68 62.1 12.1 44.5 55.8 76.0 19.6 0.2 1.6 9.3 26.9 NONE OTHER OTHER NONE FOREIGN 3,281,640 171,887 426,840 176,796 2,506,117 336 25 218 674 4 ,548 46 49 48 48 46 12 .94 13 .74 13 .23 12 .71 12 .85 0. 11 0. 12 0. 13 0. 21 0. 16 12.13-13.65 13.10-14.37 12.68-13.80 12.13-13.31 12.13-13.65 66.0 27.4 48.4 69.7 71.4 4.8 1.2 17.4 9.2 2.6 PRIME PRIME PRIME PRIME PRIME 221 ! DAYS 1 LOAN RATE (PERCENT) I 1 v ! 1 EFFECTIVE 1I NOMINAL 2. LOANS MADE BELOW PRIME 11/ " I PRIME RATE 10/ 1 1 I ! 8,.510,957 6,992 X 10. .89 10 34 11.50 64 .2 16.6 ONE MONTH AND UNDER (EXCL OVERNIGHT) 5i,347,703 2,429 16 10 96 10 .42 11 .51 77..6 9.8 OVER ONE MONTH A N D UNDER A YEAR 3,,996,237 344 97 11 .00 10 .50 11 .57 83 .8 18.1 DEMAND 5;,658,433 2,064 X 10 .90 10 .42 11 .52 64 .9 6.3 23 j,513,329 17,,225,971 6j ,287,358 1,323 1,446 1,071 27 23 54 10 .93 10 .91 10..96 10 .40 10 .39 10 .44 11 .52 11 .51 11 .55 70.7 71.2 69.5 12.8 16.1 3.6 972,541 459,540 513,002 391 291 565 n .18 10 .96 11 .37 10 .78 10 .60 10 .94 11 .67 11 .59 11 .74 82.8 75.4 89.5 16.2 17.3 15.3 OVERNIGHT 7/ 8/ TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE TOTAL ONE YEAR AND OVER -FIXED RATE -FLOATING RATE SEE LAST PAGE FOR FOOTNOTES PRIME DOMESTIC PRIME 20,140,462 254,916 136,808 209,946 473,757 397,907 18,667,128 j 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+ PRIME OTHER PRIME 1 MONTHS 42 46 39 ! '/! A /111 - .1 E.2 SURVEY OF TERMS OF BANK LENDING M A D E DURING M A Y 1-5, 1989 COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AMD! LAN!? D E V E L O P M E N T ) M A D E BY LARGE BANKS T LOAN CHARACTERISTICS AMOUNT OF LOANS (51,000) I 1 I I LOAN RATE (PERCENT) A V E R A G E |WEIGHTED^ NfefGHTEDI - ' T SIZE v 1 AVBRAfSE | AVERAGE, i STANDARD| ($1,000)I MATURITYI EFFECTIVE I ERROR I I 2/1 3/1 4/1 INTERQUARTILE RANGE 5/ 1/ I MOSTr I COMMON | I BASE I 1 1 PRICING1 ICOMMITMENT I PARTICIPATION I RATE I PERCENTAGE OF AMOUNT OF LOANS MADE UNDER: „! - ! DAYS — - j J L 1. ALL C 8 I LOANS l_JLI 7,378,179 6 ,680 * 10 .99 0.13 10.59-11 .18 63.1 19.9 FED FUNDS ONE MONTH AND UNDER (EXCL O V E R N I G H T ) -FIXED RATE -FLOATING RATE 5,118,295 3,798,187 1,320,108 3 ,067 4 ,085 1 ,786 17 18 16 11 .26 11 .17 11 .51 0.20 0.14 0.43 10.68-11 .54 10.68-11 .44 10.46-12 .19 78.3 72.8 94.4 12.8 10.8 18.5 DOMESTIC DOMESTIC DOMESTIC OVER ONE MONTH A N D UNDER A YEAR - F I X E D RATE -FLOATING RATE 5,448,135 3,157,624 2,290,511 818 1 ,448 512 112 92 139 11 .81 11 .43 12 .33 0.09 0.20 0.14 10.79-13 .03 10.61-12 .08 11.47-13 .25 82.0 80.4 84.3 20.2 23.3 16.0 DEMAND 8/ - F I X E D RATE - F L O A T I N G RATE 11,829,673 1,220,780 10,608,893 603 2 ,130 557 * * * 12 .11 11 .19 12 .22 0.15 0.21 0.16 10.95-13 .10 10.68-11 .51 11.09-13 .24 75.5 86 .9 74.2 6.5 7.2 6.5 TOTAL UNDER ONE YEAR - F I X E D 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+ 29,774,281 1 ,025 39 11 .63 0.08 10.75-12 .19 74.1 13.4 PRIME 0.11 0.19 0 . 34 0.34 0.18 0.27 0.11 10.65-11.42 12.57-14 .20 12.55-13 .73 12.47-13 .65 11.74-13 .31 11.21-12 .47 10.65-11 .39 70.8 26.5 23.0 47.7 69.8 82.7 70.8 17.3 0.1 0.0 0.3 3.7 5.3 17.7 FED FUNDS PRIME PRIME PRIME PRIME NONE FED FUNDS 0.16 0.21 0.17 0.13 0.07 0.08 0.17 11.09-13 .24 12.68-14 .37 12.68-13 .88 12.55-13 .80 12.13-13 .31 12.13-13 .24 10.88-13 .10 77.7 79.1 79.8 82.1 85.8 90.1 75.8 9.1 0.4 0.8 1.0 3.9 9.1 10.0 PRIME PRIME PRIME PRIME PRIME PRIME PRIME OVERNIGHT 7/ TOTAL ONE YEAR A M D 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+ 15,554,686 10,587 11,775 21,443 143,711 189,945 15,177,225 3 ,252 10 33 67 223 656 7 ,222 25 94 82 67 55 45 25 11 .14 13 .13 13 .07 12 .98 12 .53 11 .91 11 .11 14,219,596 86,602 124,038 251,191 1,311,132 840,066 11,606,566 586 11 34 67 210 669 6 ,360 94 156 161 151 142 147 85 12 .17 13.49 13 .34 13 .23 12 .88 12 .70 12 .00 2,358,090 1, 153 12. 69 0.18 11.87-13. 65 84.8 4.7 443,239 4,949 14,705 15,900 407,684 1, 177 54 45 54 56 54 11. 81 13. 70 12. 97 12. 31 11. 73 0.58 0.24 0.15 1.12 1.08 10.62-12. 17 12.50-14. 94 11.79-13. 95 11.46-13. 66 10.44-12. 03 85.8 30.3 24.4 73.4 89.2 13.9 0.0 0.0 16.0 14.5 1,147 47 36 46 50 47 12. 89 13. 79 12. 89 12.67 12. 89 0.20 0.21 0.16 0.44 0 25 12.13-13. 65 12.68-14. 37 12.13-13. 52 12.01-13. 51 12.13-13. 65 84.6 70.8 77.5 83.2 85.3 2.6 1.4 8.4 7.7 2.0 1,914,851 28,490 107,171 79,081 1,700,110 | 23 228 782 5, 409 32 223 697 8, 663 ! MONTHS 48 DAYS 2. LOANS M A D E BELOW PRIME 11/ | I LOAN RATE (PERCENT) 1 1 | I EFFECTIVE 1I NOMINAL 1 9/ I 3/ 1 ! !1 PRIME RATE 10/ 1 I | 6, 860, 977 8, 039 * 10.89 10.34 11.50 60 9 20. 0 ONE MONTH AND UNDER (EXCL O V E R N I G H T ) 4, 464, 955 6, 140 16 10.97 10.43 11.50 76 5 10. 5 OVER ONE MONTH AND UNDER A YEAR 3,,240, 337 4, 263 96 10.92 10.42 11.50 85 .5 20, 4 DEMAND 8/ 4,,585, 870 4,,950 * 10.88 10.42 11.50 58 0 3. 2 TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE 19 ,152,,139 13 ,739,,303 5 ,412,,836 5,,862 5,,947 5,,655 27 24 46 10.91 10.92 10.90 10.39 10.40 10.38 11.50 11.50 11.50 68 .0 68, 9 65 8 13. 9 18. 1 3 1 663, 859 294,,376 369,,482 3,,156 3, 184 3,,134 11.03 11.03 11.03 10.70 10.72 10.68 11.50 11.50 11.50 90 .9 £6 2 94 .7 12 .1 19 1 6 .5 OVERNIGHT 7/ TOTAL ONE YEAR A N D OVER -FIXED RATE -FLOATING R A T E SEE LAST PAGE FOR FOOTNOTES I MONTHS 47 51 43 ! PRIME OTHER PRIME PRIME DOMESTIC PRIME PRIME FOREIGN NONE PRIME NONE FOREIGN PRIME PRIME PRIME PRIME PRIME S U R V E Y OF T E R M S OF BANK L E N D I N G M A D E D U R I N G M A Y 1 - 5 , 1989 C O M M E R C I A L A N D 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 OTHER B A N K S | 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) | A V E R A G E |WEIGHTEDI W E I G H T E D I f SIZE I A V E R A G E I A V E R A G E (STANDARD) ( $ 1 , 0 0 0 ) I M A T U R I T Y I E F F E C T I V E I ERROR I I 2/1 3/1 4/| I I DAYS I I I l_ 1/ P E R C E N T A G E OF A M O U N T I MOST OF L O A N S M A D E U N D E R : |COMMON I BASE 1 | P R I C I N G | I COMMITMENT I PARTICIPATION| RATE LOAN RATE (PERCENT) INTERQUARTILE RANGE 5/ I I I I 6/ 1. ALL C & I LOANS 1, 6 6 9 , 8 6 8 1,847 X 10.92 0.12 10. 6 5 - 1 1 . 00 77. 7 2. 2 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 1, 3 9 9 , 4 6 2 834,467 564,995 146 157 132 18 16 22 11.74 11.26 12.46 0.13 0.16 0.24 10. 8 6 - 1 2 . 6 9 10. 7 2 - 1 1 . 61 1 1 . 6 2 - 1 3 . 25 74. 0 72. 1 76.9 2. 6 2. 6 2. 5 PRIME NONE PRIME OVER ONE M O N T H A N D UNDER A YEAR -FIXED RATE -FLOATING RATE 3, 9 8 1 , 3 5 9 1, 4 2 5 , 7 6 9 2, 5 5 5 , 5 9 0 52 38 65 172 140 191 12.83 12.46 13.04 0.07 0.14 0.05 12. 13-13. 47 11. 2 3 - 1 3 . 31 12. 19-13. 60 67. 6 54. 8 74. 7 8. 0 1. 6 11. 6 PRIME PRIME PRIME DEMAND 8/ -FIXED RATE -FLOATING RATE 7, 1 7 9 , 6 1 8 741,141 6, 4 3 8 , 4 7 8 148 261 141 X X X 12.71 11.05 12.90 0.10 0.20 0.09 12. 13-13. 24 10. 5 8 - 1 1 . 33 12. 1 3 - 1 3 . 31 91. 5 91. 2 91. 5 8. 2 23. 4 6. 4 14, 2 3 0 , 3 0 7 104 101 12.44 0.13 11. 4 3 - 1 3 . 24 81.5 6. 9 PRIME 4, 5 8 5 , 7 7 7 244,330 125,033 188,503 330,046 207,962 3, 4 8 9 , 9 0 3 98 7 32 66 215 620 4,578 56 97 119 146 160 152 27 11.48 13.55 13.51 13.13 12.66 11.90 11.03 0.12 0.19 0.31 0.18 0.13 0.15 0.06 10. 6 5 - 1 1 . 92 12. 6 4 - 1 4 . 65 12. 9 6 - 1 4 . 00 12. 3 6 - 1 4 . 20 12. 01-13. 65 11. 06-12. 12 10. 6 5 - 1 1 . 21 71. 5 20. 6 25. 7 43. 6 35. 9 77. 5 81. 2 5. 6 0. 3 0. 0 0. 0 1. 1 9. 5 6. 6 FED FUNDS OTHER OTHER PRIME PRIME PRIME FED FUNDS 9, 6 4 4 , 5 3 1 448,502 464,214 753,116 2, 6 0 0 , 8 4 1 1, 1 1 9 , 9 4 8 4, 2 5 7 , 9 0 9 108 9 34 66 194 669 2,651 156 170 165 160 158 185 140 12.90 13.70 13.51 13.25 13.08 12.81 12.59 0.07 0.09 0.07 0.04 0.03 0.13 0.20 12. 13-13. 37 12. 9 6 - 1 4 . 37 12. 9 6 - 1 4 . 20 12. 6 8 - 1 3 . 80 12. 2 6 - 1 3 . 65 12. 13-13. 24 12. 13-13. 24 86. 2 74. 5 78. 9 82. 6 83. 4 86. 0 90. 6 7. 5 1. 6 4. 9 3. 2 7. 1 7. 1 9. 5 PRIME PRIME PRIME PRIME PRIME PRIME PRIME OVERNIGHT 7/ TOTAL UNDER ONE YEAR - F I X E D RATE BY SIZE ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500-999 1000 + -FLOATING RATE BY SIZE ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500-999 1000+ | MONTHS TOTAL ONE YEAR A N D OVER - F I X E D RATE BY SIZE ( $ 1 , 0 0 0 ) 1-99 100-499 500-999 1000+ -FLOATING RATE BY SIZE ( $ 1 , 0 0 0 ) 1-99 100-499 500-999 1000+ | 44 12.86 0.11 12 .13-13 .52 39 .9 12 .3 PRIME 56 18 219 681 2,553 37 35 62 38 31 12.44 13.14 13.01 11 .16 12.14 0.20 0.34 0.54 0.70 0.32 11 12 11 10 10 .13-13 .68-14 .71-13 .25-13 .86-13 .59 .09 .80 .65 .59 39 11 50 49 52 .5 .4 .1 .7 .2 25 .0 0 .2 2 .0 7 .0 49 .1 NONE OTHER OTHER NONE NONE 169 23 216 657 2,271 46 51 48 46 45 13.00 13.73 13.34 12.75 12.76 0.11 0.09 0.16 0.22 0.17 12 13 12 12 12 .13-13 .10-14 .68-13 .13-13 .13-13 .52 .37 .92 .24 .37 40 18 38 58 42 .0 .7 .6 .7 .1 8 .0 1 .2 20 .4 10 .4 3 .9 PRIME PRIME PRIME PRIME PRIME 1 ,830,743 112 463,954 138,809 52,146 45,947 227,052 1 ,366,789 143,397 319,669 97,715 806,007 DAYS 1 1 1 LOAN R A T E ( P E R C E N T ) 1 1 1 I E F F E C T I V E I NOMINAL I 9/ 3/ j i | 2. LOANS M A D E BELOW P R I M E 11/ PRIME RATE 10/ 1 ,649,980 4,534 X 10.88 10 .33 11.50 78 .0 2 .3 ONE MONTH A N D UNDER (EXCL O V E R N I G H T ) 882,748 599 15 10.92 10 .38 11.57 83 .3 6 .0 OVER ONE M O N T H A N D UNDER A YEAR 755,900 70 99 11.35 10 .81 11.88 76 .6 7 .8 8/ 1 ,072,562 591 X 10.96 10 .45 11.59 94 .4 19 .3 TOTAL UNDER ONE Y E A R -FIXED RATE -FLOATING RATE 4 ,361,190 3 ,486,668 874,522 301 363 178 27 18 83 10.99 10.90 11.36 10 .45 10 .36 10..80 11.60 11.55 11.82 8 2 .9 8 0 .4 92 .8 8 .2 8 .4 7 .2 308,683 165,164 143,519 135 111 182 11.51 10.84 12.27 10 .94 10. 37 11 .61 12.02 11.74 12.35 65 .4 56 .1 76 .1 25.1 14 .0 37 .8 OVERNIGHT DEMAND 7/ | MONTHS TOTAL ONE YEAR A N D OVER -FIXED RATE -FLOATING RATE SEE LAST P A G E FOR F O O T N O T E S PRIME DOMESTIC PRIME 33 37 28 | S U R V E Y OF T E R M S OF BANK L E N D I N G M A D E D U R I N G M A Y 1-5, 1989 TABLE 4 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 L O A N S ( S E C U R E D A N D U N S E C U R E D BY REAL ESTATE) I W E I G H T E D |_ WEIGHTED I AMOUNT | AVERAGE I | MATURITY I AVERAGE I STANDARD OF L O A N S | SIZE (MONTHS) ERROR EFFECTIVEI ($1,000) I (31,000) 4/ 2/ 3/ LOAN C H A R A C T E R I S T I C S INTERQUARTILE RANGE 5/ ! 1. ALL BANKS 1/ 12 .06-13 .24 93 2 32. 2 3 18 19 19 27 1 11..89 13..58 14. 2 2 12.,70 12. 94 11. 71 0. 25 0. 34 0. 41 0. 28 0. 43 0. 28 11 .51-12 12 .47-14 12 .68-14 12 .13-13 12 .13-14 11.46-12 .13 .37 .93 .52 .93 .06 93 .4 51.8 94 .4 55 .7 85 4 95 .7 37. 3 0. 1 0. 0 1. 7 2. 3 42. 3 134 9 34 68 217 3,,000 9 10 12 15 16 8 12. 99 13. 6 5 13. 21 13. 42 13. 24 12. 85 0. 09 0. 09 0. 07 0. 10 0. 05 0. 09 12 .68-13 13.03-14 12 .68-13 12 .96-13 12 .96-13 12 .55-13 .24 .17 .65 .88 .52 .19 93 .1 8 8 .0 90. 7 81. 8 82. 9 96..5 29. 4 1. 4 1. 7 13. 4 9. 5 37. 9 41 116 12 8 13. 38 13. 43 12. 41 0. 11 0. 16 0. 13 12 .96-13 .80 12 .96-13 .77 11 .51-12 .82 84. 1 93..8 94. 8 4. 4 3. 3 38. 8 12. 35 0. 10 11 .51-12 .68 96. 6 41. 5 11. 70 12. 29 11. 98 0. 26 0. 35 0. 46 * 0. 46 0. 32 11 .46-12 .06 11 .85-12 .91 11 .71-12 .68 95. 3 64. 1 66. 5 42. 4 0. 0 0. 0 11 .41-12 .46 11 .46-12 .06 58. 7 95. 7 26. 6 42. 7 0. 13 0. 11 0. 09 0. 14 0. 08 0. 15 12 12 12 12 12 12 .55-12 .96 .96-13 .80 .96-13 .80 .68-13..63 .68-13 .52 .55-12 .96 97. 6 89. 1 89. 6 96. 1 96 .4 97 .9 40. 9 3. 3 3. 9 6. 7 11. 9 45. 1 978,,562 15,,089 17,,117 22,,590 67,,082 856, 6 8 5 270 7 34 72 168 8,,658 1 ,,763,.389 BY T Y P E OF C O N S T R U C T I O N S I N G L E FAMILY MULTIFAMILY NONRESIDENTIAL 408,552 113,521 2,219,879 375 2,035,329 1,019 858;,141 643 832 4,,036 11 34 1/ BY TYPE OF C O N S T R U C T I O N SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL 3. OTHER BANKS 1/ FIXED R A T E BY SIZE ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500+ FLOATING RATE BY SIZE ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500+ BY T Y P E OF C O N S T R U C T I O N SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL 6 2 20 12 X X X X 5,,884 849;,880 226 9,,591 15 1 11. 93 11. 70 1,,177,,188 660 11 35 71 233 4,,209 8 11 16 14 17 8 12. 81 13. 37 13. 33 13. 23 13. 13 12. 77 5,,581 10,,947 17,,660 109 j 8 9 2 ,107 1 ,, 033/ ' ! 0. 11 163 77, 455 64, 934 75, 801 285, 173 1 ;,260, 027 FIXED R A T E BY SIZE ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500 + FLOATING R A T E BY SIZE ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500+ X x FEWER T H A N 10 S A M P L E L O A N S . X aE 12.96-13.24 13.24-13.80 11.51-12.68 80.4 84.5 97.7 5.7 2.9 44.0 12.96-13.80 83.3 5.2 12. 13-14. 93 12. 5 1 - 1 4 . 37 13. 2 4 - 1 4 . 93 12. 1 3 - 1 4 . 17 12. 13-14. 93 79. 6 51. 2 95. 8 56 .4 88 .0 0.3 0.1 0.0 1.8 0.0 0. 03 0 .14 0. 11 .14 0. 0 . 07 0..07 12. 96-13..80 13..03-14..20 12 .26-13 .65 12 .96-13 .88 12 .96-13 .80 12 .96-13 .77 84 88 90 77 74 90 0 .21 0 .23 0 .12 12 .96-13 .88 12 .96-13 .77 12 .68-13 .80 85 .3 96 .7 77 .7 0.09 0.23 0.08 103, 199 27, 228 904, 902 184 144 1,528 11 8 5 13.13 13.59 12.28 706, 6 2 3 48 14 13.32 120, 422 14, 446 16,.285 21,,688 61,,198 X 35 6 34 72 164 X 23 18 20 19 32 X 13.20 13.64 14.33 12.74 13.04 0. 33 0. 48 0. 63 0. 41 0. 77 586 ,201 71 ,873 53,987 58 ,141 175 ,281 22,6 ,919 52 9 34 68 208 1,300 12 10 11 15 15 11 13.34 13.68 13.19 13.48 13.30 13.26 305 ,353 86 ,293 314 ,977 33 109 67 12 8 18 13.47 13.38 13.15 X X X NOTE: 63.5 P E R C E N T OF 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 LOANS H E R E P R I C E D R E L A T I V E TO T H E P R I M E R A T E SEE LAST P A G E FOR F O O T N O T E S 1 ! J PARTICIPATIONj 12..60 2,741,952 FIXED R A T E BY S I Z E ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500+ FLOATING RATE BY SIZE ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500+ 2. LARGE B A N K S | 1 1 COMMITMENT .0 .0 .9 .4 .5 .3 6.2 1.3 1.2 15.4 8.0 5.2 4.0 3.4 6.9 Table 5 L O A N S TO F A R M E R S Size class of loans (thousands) ALL B A N K S Amount of loans (thousands) Number of loans Weighted average maturity (months)2 Weighted average Interest rate (%)3 Standard error4 Interquartile range5 By purpoee 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 LARGE BANKS" Amount of loans (thousands) Number of loans Weighted average maturity (months)2 Weighted average Interest rate (%)3 Standard error4 Interquartile range8 By purpoee 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 B A N K S ' Amount of loans (thousands) Number of loans Weighted average maturity (months)2 3 Weighted average Interest rate (%) Standard error4 Interquartile range5 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 $ 140, 990 4 0 , 49 o $ 1 ,2*4, a.9 a. o 12. do 13.05 .it 12.21-13.52 12.*2 3 2 . 79 12.89 1 J . 1ti 1 2 . 06 .3) 12.59-13.00 13.74 1 j . JO 12.87 $184,720 12,o17 9.4 $130,53,4 3,838 9. 1 $208,631 3,039 12. / $232,758 1,7.13 $370,670 587 a. 1 6.7 U . 85 .33 12.27-13.56 12.99 13. Id 13.33 .41 1^.23 12.19-13.52 12.47-14.09 12. 60-.13. 5 3 1 2 . 0 1 - 1 2 . 96 12,6b 12.*/ 13. 07 * 13.Ji 12. *6 * * 11.92 12.81 13.38 13.41 13. 30 13.65 12.73 13.07 13.OJ 1 3 . 11 jl. d 54.0 57. 1 53.3 40.9 45.9 17.4 9. 2 55.* 2.a 4.0 10. 1 6.9 6.4 71. 8 6.9 1.7 6.2 9.4 9.1 *381,270 O, 4 8 2 9.3 12.7a 12. $250 and over $100-249 $50-99 $25-49 $10-24 $1-9 all sizes 67.0 .48 .9^1 12.59 1 3 . 73 13.22 13.15 * 13.77 * * 13.18 53.4 45.9 4*6. J 46.1 49.5 44.6 56.3 69.2 14.9 16. o 56. 1 16. J 22.4 * 45.4 23.8 * 53.2 13. 3 o • # * * 6.i* 52.0 * 1 ^ . 16 $ * 5.4 3.5 3. 5 8.0 14.7 $13,317 3,23a 7. o $21,522 1,460 9.5 $.22,474 657 10.5 $30,325 4i>3 13.92 .30 13.68 .28 13.03-14.37 13.52 .17 13.03-14.17 .13.23 .41 12. 75-13.4*0 13.29 13.51 13.68 13.72 13.60 13.79 12.83 13.07 14.12 13.98 13.65 14.70 13.86 13.59 U.J3 13.4* 13.08 * 13*31 8*.4 84. 2 91.4 €4.6 92.7 90.-4 82.7 90. 1 90.5 75.1 8*. 7 5.2 2.3 66.8 4.6 2.9 18.4 11.1 18.5 27.3 44. U 32.1 1.7 5.3 18.9 5. 7 4.0 71. 3 3. o 1.4 14.0 $913,U54 55,830 $133,«73 37.263 $108.oao d. a a.o $163,198 11.157 9.4 12.8* 12.97 .17 12.55-13.80 12.74 .16 12.20-13.45 .53 12. 1 3 - 1 3 . 5 2 12.65 1 ^ .toa 1 3 . 10 13.61 11.^9 12.00 ai. 1 84.0 ^d.ti 7.9 J7.5 .15 12. 2 4 - 1 3 . 5 0 13.24-14.45 1 3 . 13 12.78 # * 14.02 * 8.7 # * 12.40 12.75-13.65 1 2 . 4 1 - 1 3 . 10 13.45 12.53 1J.J5 12.84 .26 .42 $ 13.74 82 3.181 8. 9 $178.101 2.5,95 13—2 $194,415 1.326 7.4 $135,581 308 5.0 12.88 .22 12.11-13.31 1 3 . in .24 1 2 . 4 7 - 1 4 . 43 1J.3J _)1 12.60-13.53 11.93 .42 24.4 12.63 12.8* 12.96 * 13. 4J • 13.3 V 13.25 13.59 39.6 41.4 53.9 50.2 41.1 40.8 45.2 37.4 38.7 3 * .-9 12.7 9. 7 03. 5 3.2 4. 4 7. 1 6. 6 71.9 7.2 10.0 1U.0 67.1 5. 5 15.7 15.* j* 33.-4 6.5 13.22 30. 1 * 12.00 13.00 * 12. 68 $ $2J3,&94 279 £. 6 * 30.1 * 13.79 13.25 12.76 13.40 12.44 $54,342 3436 12*6 45.7 * 31.7 * * 14.4 6.8 54. 4 13.19 12.83 12. 82 13.08 13. J 8 * 10.3 $ $ # 12.S $ .# $ * * * 18.o 56.4 * $ * $ * * 5.5 3.8 * $ » $ $ $ 13. 8 3 * * 37.3 J6.0 10.4J-12.52 * * * * * * • * 49.4 .* * * * * —n— See last page for notes to tables Digitized•Fewer for FRASER than 10 sample loans The survey of terms of bank lending to business collects data on gross loan extensions made during the first full b u s i n e s s week in the mid- month of each quarter by a s a m p l e of 340 commercial b a n k s of all sizes. A s u b s a m p l e of 250 b a n k s also report loans to farmers. The s a m p l e data a r e 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 p o r t f o l i o s 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 a s reals estate loans and the remainder a s b u s i n e s s loans. Mortgage loans, purchased loans, foreign loans, and loans of less than $1,000 a r e excluded from the survey. 1. As of December 31, 1987, a s s e t s of most of the large banks w e r e at least $ 6.0 For all insured banks, total a s s e t s averaged $ 220 m i l l i o n . billion. 2. Average m a t u r i t i e s a r e weighted by loan size and exclude demand loans. 3. Effective ( c o m p o u n d e d ) annual interest rates are calculated from the stated rate and other terms of the loan and weighted by loan size. 4. The chances a r e about 2 out of 3 that the a v e r a g e rate shown would differ by less than this amount from the a v e r a g e rate that would be found by a c o m p l e t e survey of lending at all banks. 5. The i n t e r q u a r t i l e range s h o w s the interest rate range that e n c o m p a s s e s 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 " b a s i c " or " r e f e r e n c e " rate); the federal funds rate; domestic money market rates other than the federal funds rate; foreign m o n e y market rates; and other base rates not included in the foregoing c l a s s i f i c a t i o n s ; 7. Overnight 8. Demand loans have no stated date of maturity. 9. Nominal (not c o m p o u n d e d ) annual interest rates a r e calculated from survey data on the stated rate and other terms of the loan and w e i g h t e d by loan size. loans m a t u r e on the b u s i n e s s day after they a r e made. 10. The prime rate reported by each bank is weighted by the v o l u m e of loans extended and then a v e r a g e d . 11. The proportion of loans made at rates below prime may v a r y s u b s t a n t i a l l y 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 a s s e t s below $ 600 m i l l i o n .
@FedFRASER