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FEDERAL RESERVE statistical release E.2 For Immediate Release June 14, 1995 SURVEY OF TERMS OF BANK LENDING MADE DURING MAY 1-5,1995 TABLE 1 Commercial and Industrial loans made by all commercial banks1 Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) Weighted Average Maturity2 Weighted Average Effective^ Percent of Amount of Loans Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight® 13,349,045 8,538 - 6.77 0.22 7.3 55.2 1.0 Other One month and under 2 (excluding overnight) 3 Fixed rate 4 Floating rate 11,047,384 8,945,813 2,101,571 1,290 3,795 339 14 13 21 7.21 7.06 7.85 0.16 0.17 0.24 22.1 16.4 46.2 68.5 64.9 83.9 2.9 2.8 3.2 Other Other Domestic Over one month and 5 under one year 6 Fixed rate 7 Floating rate 12,113,349 6,155,589 5,957,760 224 282 185 134 100 169 8.09 7.33 8.87 0.14 0.16 0.20 49.5 37.8 61.6 80.4 78.6 82.2 7.4 9.4 5.3 Prime Other Prime 19,265,759 7,498,234 11,767,525 291 881 204 8.20 6.85 9.07 0.16 0.21 0.14 49.9 15.6 71.6 68.5 52.0 79.0 9.0 10.5 8.0 Prime Other Prime 8 Demand 7 9 Fixed rate 10 Floating rate 11 Total under one year Fixed rate By size ($1,000) 1-99 100-499 500-999 1000-4999 5000 - 9999 10000 + Floating rate 19 By size ($1,000) 20 1-99 21 100-499 22 500 - 999 23 1000 - 4999 24 5000 - 9999 25 10000 + 12 13 14 15 16 17 18 — 55,775,537 427 49 7.64 0.14 34.1 67.9 5.5 Other 35,939,048 353,972 394,731 472,077 5,128,149 6,288,425 23,301,694 1,049 13 220 679 2,349 6,528 19,149 26 165 93 59 35 31 20 6.95 9.56 7.97 7.65 7.34 7.11 6.76 0.16 0.11 0.26 0.11 0.08 0.10 0.09 16.5 83.1 64.5 40.9 29.6 19.0 10.6 61.0 43.2 70.7 80.1 73.6 65.9 56.6 4.9 0.4 6.1 7.5 4.3 8.5 4.0 Other Other Other Other Other Other Other 19,836,489 1,837,167 3,852,052 1,914,532 5,042,862 1,980,243 5,209,632 206 26 202 675 1,994 6,540 18,329 130 170 165 177 167 100 64 8.88 10.29 9.83 9.50 9.00 8.29 7.57 0.16 0.04 0.05 0.07 0.15 0.15 0.12 65.9 84.2 80.9 69.8 62.0 55.8 54.6 80.5 83.4 85.9 85.1 85.3 78.4 69.7 6.7 1.2 4.3 4.7 9.7 3.8 9.2 Prime Prime Prime Prime Prime Prime Foreign 8,834,054 279 45 8.92 0.14 67.6 70.6 5.9 Prime 2,817,418 264,446 184,278 89,861 2,278,833 217 23 204 655 4,660 49 45 40 38 50 8.87 10.12 9.53 8.41 8.69 0.22 0.08 0.20 0.28 0.51 64.1 92.4 88.0 70.0 58.7 44.5 18.2 42.3 84.5 46.1 1.5 1.0 2.9 2.5 1.4 Other Other Other Other Other 6,016,636 358,759 889,465 707,716 4,060,696 323 28 226 666 3,862 43 41 40 48 43 8.94 10.40 9.81 9.69 8.50 0.15 0.11 0.05 0.08 0.15 69.3 91.7 82.1 763 63.3 82.9 58.6 81.1 85.4 85.0 7.9 1.5 5.3 8.4 9.0 Prime Prime Prime Prime Prime Months 26 Total one year and over Fixed rate 27 By size ($1,000) 28 1 -99 29 100-499 30 500 - 999 31 1000 + Floating rate 32 By size ($1,000) 33 1-99 34 100 - 499 35 500-999 36 1000 + Days Loans made below prime1^ Prime Rate 9 Nominal 8 37 Overnight6 13,103,641 9,239 - 6.71 6.50 6.3 54.4 1.0 9.00 One month and under 38 (excluding overnight) 10,213,602 4,934 14 6.97 6.75 17.4 67.5 2.4 9.00 105 7.29 7.09 37.4 81.0 9.1 9.09 Over one month and 39 under one year 8,602,326 875 40 Demand 7 10,502,145 2,159 - 6.85 6.79 25.0 53.6 11.7 9.00 41 Total under one year 42 Fixed rate 43 Floating rate 42,421,714 34,644,956 7,776,758 2,333 3,296 1,013 33 24 89 6.93 6.84 7.32 6.75 6.66 7.15 19.9 14.4 44.4 62.7 60.4 73.1 5.6 4.9 8.9 9.02 9.01 9.07 3,474,986 1,309,563 2,165,423 704 445 1,084 7.39 7.45 7.36 7.26 7.32 7.22 48.2 47.6 48.6 74.3 58.1 84.2 8.0 2.5 11.3 9.08 9.17 9.02 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 41 39 43 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING MAY 1-5,1995 TABLE 2 Commercial and Industrial loans made by large banks1 Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) Weighted Average Effective^ Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight6 Weighted Average Maturity2 Percent of Amount of Loans 10,614,681 8,702 - 6.81 0.16 8.1 56.3 0.4 Other One month and under 2 (excluding overnight) 3 Fixed rate 4 Floating rate 8,091,668 7,019,517 1,072,150 3,673 7,086 884 13 12 19 7.18 7.10 7.68 0.16 0.18 0.24 19.2 16.3 38.6 64.0 60.6 85.9 3.5 3.3 4.5 Other Other Domestic Over one month and 5 under one year 6 Fixed rate 7 Floating rate 7,196,285 4,335,359 2,860,927 1,095 3,082 554 108 91 134 7.65 7.24 8.28 0.13 0.10 0.20 42.6 35.4 53.4 83.2 78.6 90.2 5.9 7.6 3.2 Foreign Foreign Foreign 8 Demand 7 9 Fixed rate 10 Floating rate 12,132,621 5,683,039 6,449,582 520 3,991 294 : 7.93 6.71 9.00 0.16 0.18 0.17 42.9 10.4 71.6 60.7 44.5 75.0 8.0 8.8 7.3 Prime Domestic Prime 11 Total under one year Fixed rate 12 By size ($1,000) 13 1-99 14 100-499 15 500 - 999 16 1000-4999 17 5000-9999 18 10000 + Floating rate 19 By size ($1,000) 20 1-99 21 100-499 22 500 - 999 23 1000-4999 24 5000 - 9999 25 10000 + 38,035,255 1,141 35 7.41 0.13 28.1 64.4 4.5 Other 27,645,420 21,595 152,594 319,707 3,719,209 4,641,118 18,791,197 5,491 31 261 684 2,364 6,619 18,750 22 114 72 57 32 25 19 6.93 8.82 8.04 7.83 7.35 7.09 6.78 0.12 0.26 0.23 0.13 0.11 0.07 0.09 14.9 73.9 60.4 41.1 28.5 19.5 10.2 58.5 56.4 80.1 78.6 71.9 57.4 55.5 4.0 0.0 1.9 4.9 3.0 5.1 3.9 Other Other Other Other Other Other Other 10,389,835 548,899 1,714,562 953,202 2,641,904 1,055,792 3,475,475 367 32 210 665 2,056 6,869 20,128 102 159 154 157 120 85 74 8.67 10.15 9.74 9.45 8.85 8.21 7.69 0.17 0.07 0.09 0.10 0.13 0.28 0.25 63.2 84.9 80.1 66.5 56.5 48.4 60.1 80.3 88.9 90.1 89.5 87.8 78.3 66.5 5.9 1.2 3.7 6.2 9.7 7.1 4.3 Prime Prime Prime Prime Prime Prime Fed Funds 5,448,626 834 44 8.82 0.14 62.7 80.1 6.0 Prime 1,587,488 11,468 36,722 38,020 1,501,278 1,943 28 230 709 7,620 47 44 46 43 47 8.77 9.31 8.52 7.90 8.80 0.20 0.23 0.30 0.40 0.52 57.2 87.1 76.2 58.5 56.4 51.7 62.9 75.0 95.4 49.9 1.4 0.4 0.0 0.0 1.5 Prime Other Other Other Prime 3,861,138 92,666 439,713 426,214 2,902,544 675 36 241 672 4,292 43 29 35 39 45 8.83 9.85 9.62 9.45 8.59 0.11 0.08 0.05 0.07 0.35 65.0 87.1 75.6 68.3 62.2 91.7 85.4 87.1 90.2 92.9 7.9 3.3 4.8 7.8 8.6 Prime Prime Prime Prime Prime Months 26 Total one year and over Fixed rate 27 By size ($1,000) 28 1-99 29 100-499 30 500 - 999 31 1000 + Floating rate 32 By size ($1,000) 33 1-99 34 100 - 499 35 500 - 999 36 1000 + Prime 37 Overnight6 One month and under (excluding overnight) Rated Nominal 8 Days Loans made below primed 10,402,778 9,457 - 6.74 6.53 7.2 55.4 0.4 9.00 7.00 6.77 15.5 62.8 3.0 9.00 7,628,198 6,851 12 Over one month and 39 under one year 6,122,975 3,320 95 7.27 7.07 37.9 82.9 6.4 9.00 40 Demand 7 7,553,393 3,706 - 6.77 6.70 23.1 45.8 7.7 9.00 31,707,344 26,904,588 4,802,756 5,201 6,319 2,613 28 21 82 6.91 6.85 7.28 6.73 6.66 7.10 18.9 13.5 49.2 60.2 57.5 75.3 3.9 4.0 3.7 9.00 9.00 9.00 2,171,481 682,167 1,489,314 2,284 1,993 2,448 7.29 7.03 7.41 7.17 6.98 7.25 47.8 44.7 49.3 90.5 80.1 95.2 10.0 2.5 13.4 9.00 9.00 9.00 38 41 Total under one year 42 Fixed rate 43 Floating rate Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 42 41 43 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING MAY 1-5,1995 TABLE 3 Commercial and Industrial loans made by other banks1 Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) Weighted Average Maturity2 Weighted Average Effective3 Percent of Amount of Loans Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight® 2,734,364 7,958 - 6.63 0.36 3.9 50.9 3.3 Fed Funds One month and under 2 (excluding overnight) 3 Fixed rate 4 Floating rate 2,955,717 1,926,296 1,029,421 465 1,410 206 18 16 23 7.31 6.92 8.04 0.20 0.26 0.26 29.8 16.9 54.1 81.1 80.8 81.7 1.2 0.8 1.8 Fed Funds Fed Funds Other Over one month and 5 under one year 6 Fixed rate 7 Floating rate 4,917,063 1,820,230 3,096,834 104 89 114 171 120 201 8.72 7.52 9.42 0.18 0.23 0.20 59.7 43.5 69.3 76.2 78.6 74.8 9.6 13.7 7.2 Prime Other Prime 7,133,138 1,815,195 5,317,943 166 256 148 - 8.67 7.26 9.15 0.18 0.24 0.17 61.6 32.1 71.7 81.7 75.7 83.8 10.6 15.9 8.8 Prime Other Prime 8 Demand ? 9 Fixed rate 10 Floating rate 11 Total under one year Fixed rate 12 By size ($1,000) 13 1-99 14 100-499 15 500-999 16 1000-4999 17 5000 - 9999 18 10000 + Floating rate 19 By size ($1,000) 20 1-99 21 100-499 22 500 - 999 23 1000-4999 24 5000 - 9999 25 10000 + 17,740,282 183 85 8.14 0.16 46.9 75.3 7.6 8,293,628 332,377 242,136 152,370 1,408,940 1,647,307 4,510,497 284 12 200 668 2,313 6,283 21,016 39 167 106 63 44 51 23 7.03 9.61 7.92 7.26 7.30 7.16 6.65 0.18 0.13 0.36 0.15 0.18 0.17 0.07 21.8 83.7 67.1 40.6 32.6 17.5 12.3 69.4 42.3 64.7 83.4 78.1 89.8 60.9 7.8 0.5 8.8 13.1 7.9 17.9 4.3 Fed Funds Other Other Other Other Other Fed Funds 9,446,654 1,288,268 2,137,490 961,330 2,400,958 924,452 1,734,156 139 24 196 686 1,931 6,201 15,546 156 173 170 188 207 119 42 9.12 10.35 9.91 9.54 9.16 8.39 7.32 0.19 0.05 0.03 0.08 0.19 0.31 0.24 69.0 84.0 81.5 73.1 68.1 64.3 43.8 80.6 81.0 82.6 80.8 82.5 78.4 76.2 7.5 1.2 4.7 3.1 9.7 0.0 19.0 Prime Prime Prime Prime Prime Prime Other Prime Months 26 Total one year and over Fixed rate 27 By size ($1,000) 28 1 - 99 29 100-499 30 500 - 999 31 1000 + Floating rate 32 By size ($1,000) 33 1-99 34 100-499 35 500 - 999 36 1000 + 3,385,428 135 46 9.08 0.15 75.5 55.5 5.7 Prime 1,229,930 252,978 147,556 51,842 777,555 101 23 199 620 2,663 50 45 38 35 55 8.99 10.16 9.78 8.78 \ 8.47 0.23 0.08 0.32 0.43 0.48 73.1 92.7 91.0 78.4 63.0 35.2 16.2 34.1 76.5 38.9 1.7 1.0 3.6 4.4 1.3 Other Other Other Other Other 2,155,498 266,093 449,752 281,501 1,158,152 167 27 213 658 3,087 44 44 45 63 39 9.14 10.59 9.99 10.06 8.26 0.20 0.10 0.10 0.21 0.26 76.9 93.4 88.5 88.3 65.9 67.0 49.2 75.3 78.1 65.2 7.9 0.9 5.8 9.4 10.0 Prime Prime Prime Prime Prime Days Loans made below primed Prime Rate 9 Nominal 8 37 Overnight6 2,700,863 8,487 - 6.60 6.39 2.7 50.3 3.3 9.00 One month and under 38 (excluding overnight) 2,585,404 2,703 17 6.90 6.68 23.2 81.4 0.8 9.01 131 7.34 7.15 36.2 76.5 15.8 9.32 7.04 7.03 29.8 73.4 22.0 9.00 6.97 6.81 7.37 6.81 6.65 7.23 22.9 17.6 36.7 70.2 70.5 69.5 10.7 8.2 17.3 9.08 9.04 9.17 7.57 7.90 7.26 7.40 7.68 7.14 48.8 50.7 47.0 47.4 34.1 59.7 4.6 2.4 6.6 9.20 9.35 9.06 Over one month and 39 under one year 2,479,351 310 40 Demand ? 2,948,752 1,043 10,714,370 7,740,369 2,974,002 886 1,238 509 41 Total under one year 42 Fixed rate 43 Floating rate - 48 33 102 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 1,303,505 627,396 676,109 327 241 487 40 35 43 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. The sample data are used to estimate the terms of loans extended during that week at all insured commercial banks. 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. Historical data back to 1977 presented in the format of the current E.2 release are now available. 1. As of September 30,1990, assets of most of the large banks were at least $7.0 billion. For all insured banks, total assets averaged $275 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 loans and weighted by loan size. 4. The chances are about two out of three 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 most common base rate is that used to price the largest dollar volume of loans. Base pricing rates include prime rate (sometimes referred to as a bank's "basic" or "reference" rate); the federal funds rate; domestic money market rates other than the prime rate and federal funds rates; foreign money market rates; and other base rates not included in the foregoing classifications. 6. Overnight loans mature on the business day after they are made. 7. Demand loans have no stated date of maturity. 8. Nominal (not compounded) annual interest rates are calculated from the stated rate and other terms of the loans and weighted by loan size. 9. The prime rate reported by each bank is weighted by the volume of loans extended and then averaged. 10. The proportion of loans made at rates below the prime may vary substantially from the proportion of such loans outstanding in banks' portfolios.
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