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FEDERAL RESERVE statistic «L Rt 111 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING MAY 2-6,1994 TABLE 1 Commercial and Industrial loans made by all commercial banks JUL FRB RESEARCH LIBRARY Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) For Immediate Release June 27, 1994 Percent of Amount of Loans Made Under Weighted Average Maturity2 Weighted Average Effective 3 Standard Error4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 12.953.765 6.636 - 4.47 0.24 8.6 57.5 5.7 Fed Funds 7,644,038 4,669,477 2,974,562 1,071 2,223 591 17 15 21 5.09 4.63 5.82 0.17 0.20 0.24 20.4 11.1 35.0 81.2 76.1 89.1 8.7 9.9 6.9 Other Other Prime 9,750.253 4,335,962 5.414,292 182 187 178 152 114 183 5.94 5.19 6.54 0.16 0.19 0.23 50.9 39.4 60.0 80.1 80.0 80.2 7.1 6.0 7.9 Prime Other Prime 8 Demand 7 9 Fixed rate 10 Floating rate 17,480,228 4,593,535 12.886,692 315 606 269 - 5.94 4.84 6.34 0.16 0.24 0.17 66.2 42.0 74.9 63 1 60.9 63.8 4.5 4.6 4.4 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 + 47.828,284 405 54 5.41 0.15 40.2 67.9 6.0 Prime 26,552,738 449,930 429,298 469,352 4,343,805 4,875,048 15,985,305 764 16 182 690 2,358 6.527 18,851 26 167 116 71 34 25 18 4.68 8.01 6.54 5.65 4.98 4.73 4.41 0.21 0.27 0.22 0.16 0.10 0.07 0.09 19.8 79.9 74.0 51.8 24.0 16.2 15.7 65.0 40.6 62.9 80.6 78.9 74.6 58.6 6.3 0.2 2.8 7.7 7.6 14.6 3.7 Other Other Other Other Other Other Other 21.275,545 1,555,979 3,219,028 2,046,157 4,629,115 1,786,904 8,038,362 255 25 202 666 2.029 6,144 23,802 126 181 194 234 141 49 66 6.32 8.12 7.59 7.35 6.51 5.55 5.25 0.17 0.07 0.04 0.10 0.15 0.20 0.27 65.5 83.2 78.8 71.9 56.7 44.6 64.9 71.5 85.8 87.0 77.5 83.7 74.4 53.4 5.7 1.4 3.6 4.3 10.6 7.1 4.6 Prime Prime Prime Prime Prime Prime Fed Funds 6,192,762 265 6.48 0.16 511 65.5 6.0 Prime 57.3 86.5 94.4 75.3 41.9 58.9 20.3 34.0 53.1 71.8 1.7 0.6 1.1 1.1 2.0 Other Other Other Other Other 48.8 90.2 82.9 71.7 33.3 68.0 54.4 69.0 77.8 67.3 7.7 6.4 7.8 7.8 7.7 Prime Prime Prime Prime Prime 1 Overnight 6 2 3 4 One month and under (excluding overnight) Fixed rate Floating rate Over one month and 5 under one year 6 Fixed rate 7 Floating rate , 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 + Loans made below prime 38 1,724,271 183,330 292,417 91.290 1,157,233 147 19 192 709 4,526 51 48 55 41 51 6.17 8.57 8.24 6.68 5.22 0.28 0.15 0.24 0.41 0.62 4,468,491 246,321 724,135 499,075 2.998,960 383 35 230 680 4,437 36 47 45 39 33 6.61 8.24 7.67 7.43 6.08 0.15 0.08 0.08 0.14 0.25 One month and under (excluding overnight) Over one month and 39 under one year 40 Demand 7 41 Total under one year 42 Fixed rate 43 Floating rate 12.658,295 8,431 - 4.41 4.38 7.6 56.5 5.9 6.75 6,220,967 4.300 15 4.56 4.54 15.9 79.3 10.0 6.76 6,250.564 744 119 4.90 4.87 35.2 85.8 9.7 6.82 10,009,437 2.124 — 4.66 4.61 55.6 42.9 4.0 6.76 6.7 6.4 7.6 6.77 6.77 6.77 3.0 2.5 3.3 6.85 6.78 6.90 35.139,264 25.251.680 9,887,583 2,188 2,683 1.486 2.885,723 1.082,459 1,803,264 1.016 716 1,357 34 25 84 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. Prime Rate 9 Nominal 8 Days 10 37 Overnight 6 40 39 51 32 I 4.59 4.53 4.77 4.56 4.50 4.72 27.6 17.2 54.4 61.9 64.5 55.3 5.12 4.92 5.24 5.05 4.86 5.16 29.9 36.2 26.2 60.1 72.4 52.8 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING MAY 2-6,1994 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 Maturity2 Weighted Average Effective 3 Percent of Amount of Loans Made Under Standard Error4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 9.888,563 6,898 - 4.51 0.17 9.7 57.0 4.6 Other 5,448,142 3,696,857 1.751.285 2,961 5,833 1.452 15 14 18 4.90 4.59 5.56 0.17 0.10 0.26 17.3 10.5 31.7 84.1 80.1 92.6 9.5 9.8 9 1 Other Other Other 5,629,671 2.934,719 2.694.952 953 2,570 566 121 103 139 5.32 4.83 5.84 0.14 0.17 0.19 38.6 32.3 45.6 89.7 89.0 90.4 6.7 6.9 6.6 Other Other Prime 8 Demand 7 9 Fixed rate 10 Floating rate 12,901,720 3,867,747 9,033,973 648 3,107 484 5.61 4.63 6.02 0.15 0.18 0.17 65.6 40.0 76.5 53.8 56.3 52.7 3.2 2.8 3.3 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 1 000 - 4999 24 5000 - 9999 25 10000 + 33,868,095 1,164 5.12 0.14 37.0 65.6 5.2 Other 20,387.886 24,392 153,125 267,278 3,125,361 3,676,463 13.141,266 4.577 27 256 669 2,411 6,450 18.699 22 98 49 35 27 22 21 4.59 7.07 5.88 5.62 4.96 4.79 4.41 0.16 0.23 0.19 0.17 0.10 0.10 0.11 18.8 72.4 53.1 46.0 22.2 17.9 17.2 65.7 66.5 77.0 88.8 82.5 72.6 59.1 5.5 0.6 5.5 5.8 6.9 8.2 4.5 Other Other Other Other Other Other Other 13,480,210 477,554 1.427,414 882,973 2,525,025 1,287,494 6,879,749 547 32 208 674 2,032 6,340 24,500 92 160 148 144 115 49 72 5.93 7.87 7.46 7.12 6.49 5.52 5.19 0.16 0.05 0.05 0.10 0.22 0.18 0.31 64.5 81.6 75.2 66.8 52.5 45.4 68.8 65.4 92.9 92.4 92.5 83.5 74.7 46.0 4.7 1.0 2.5 4.4 7.9 6.5 3.9 Prime Prime Prime Prime Prime Prime Fed Funds 1 Overnight® 2 3 4 One month and under (excluding overnight) Fixed rate Floating rate Over one month and 5 under one year 6 Fixed rate 7 Floating rate - 37 Months 26 Total one year and over Fixed rate By size ($1,000) 1-99 100-499 500 - 999 1000 + Floating rate 32 By size ($1,000) 33 1-99 34 100 - 499 35 500 - 999 36 1000 + 27 28 29 30 31 3,291.341 798 44 6 33 0.14 48.3 90.6 8.7 Prime 749,098 10,919 25,654 39,442 673,082 1,192 31 215 719 6,608 59 47 44 36 61 5.05 7.89 6.97 5.78 4.89 0.25 0.34 0.27 0.32 0.35 50.3 85.4 70.5 55.5 48.6 93.2 57.3 84.8 75.2 95.2 2.3 1.6 6.7 2.5 2.1 Other Other Domestic Other Other 2,542,243 48,543 304,799 272.004 1,916,897 728 39 231 690 3,566 39 29 33 33 42 6.70 7.61 7.44 7.22 6.49 0.09 0.07 0.06 0.05 0.16 47.7 79.6 72.6 63.3 40.7 89.8 86.0 85.9 90.5 90.4 10.6 3.0 8.1 9.4 11.4 Prime Rate 9 Nominal 8 Days Loans made below prime 1 0 Prime Prime Prime Prime Prime 37 Overnight 6 9,596,033 8.327 — 4.43 4.41 8.4 55.8 4.7 6.75 One month and under 38 (excluding overnight) 4,828.688 6.000 14 4.52 4.50 12.7 83.5 10.7 6.75 Over one month and 39 under one year 4,446,036 3,473 109 4.75 4.73 29.3 91.8 7.2 6.75 8,562,143 3.957 - 4.60 4.55 60.1 35.0 2.4 6.75 27,432.899 19,677,448 7,755,452 5,079 5,915 3,738 30 22 75 4.55 4.50 4.67 4.52 4.48 4.62 28.7 17.3 57.6 60.0 64.8 48.0 5.5 5.7 5.0 6.75 6.75 6.75 5.04 4.70 5.30 4.98 4.66 5.24 41.2 44.3 38.8 94.6 94.7 94.5 4.4 2.4 5.9 6.75 6.75 6.75 40 Demand 7 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. 1,475,621 646,902 828,720 2,624 3,298 2,263 52 61 45 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING MAY 2-6,1994 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 Effective^ Percent of Amount of Loans Made Under Standard Error4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight 6 3,065,202 5,911 One month and under 2 (excluding overnight) 3 Fixed rate 4 Floating rate 2,195,896 972,620 1.223,277 Over one month and 5 under one year 6 Fixed rate 7 Floating rate - 4.33 0.34 5.1 58.8 9.3 Fed Funds 415 663 320 23 18 27 5.57 4.79 6.19 0.22 0.28 0.27 28.1 13.6 39.7 74.0 61.1 84.2 6.7 10.4 3.8 Prime Fed Funds Prime 4,120,582 1,401,243 2,719.340 86 64 106 196 138 226 6.79 5.94 7.23 0.18 0.23 0.20 67.6 54.4 74.3 67.1 61.2 70.1 7.6 4.2 9.3 4,578,507 725,788 3,852,719 129 115 132 6.89 5.93 7.07 0.20 0.37 0.21 68.0 52.3 71.0 89.3 85.6 90.0 8.2 14.1 7.1 Prime Other Prime 11 13.960.188 157 92 6.09 0.17 47.8 73.6 8.0 Prime 12 13 14 15 16 17 18 6,164,852 425,539 276,172 202,073 1.218,444 1,198,585 2.844,039 203 16 157 720 2,232 6,773 19,590 39 169 155 113 51 33 10 4.95 8.07 6.90 5.68 5.02 4.56 4.39 0.23 0.29 0.27 0.39 0.14 0.12 0.13 23.2 80.4 85.6 59.5 28.7 11.3 8.7 62.9 39.2 55.1 69.8 69.7 80.7 56.2 8.9 0.2 1.3 10.1 9.3 34.1 0.0 Fed Funds Other Other Other Fed Funds Fed Funds Fed Funds 7,795,336 1,078,425 1.791,614 1,163,184 2,104,090 499,410 1,158,614 133 23 197 659 2,025 5,693 20,361 164 185 216 277 171 47 54 6.99 8.24 7.69 7.53 6.54 5.65 5.60 0.21 0.10 0.07 0.15 0.09 0.39 0.57 67.2 83.8 81.6 75.8 61.7 42.3 41.8 82.1 82.7 82.7 66.2 84.0 73.7 97.3 7.3 1.6 4.4 4.3 13.7 8.9 8.2 Prime Prime Prime Prime Prime Prime Prime 2,901,421 151 36 6.66 0.15 54.4 37.0 2.9 Prime 975,173 172,411 266,763 51,848 484.151 88 18 190 702 3,147 45 48 56 45 38 7.02 8.62 8.36 7.37 5.68 0.25 0.16 0.22 0.46 0.64 62.7 86.6 96.7 90.3 32.5 32.6 18.0 29.1 36.2 39.3 1.2 0.6 0.6 0.0 1.9 Fed Funds Other Other Prime Fed Funds 1,926,248 197,778 419,336 227,071 1,082,063 236 34 229 668 7,818 32 52 54 46 17 6.48 8.40 7.83 7.68 5.36 0.16 0.12 0.13 0.21 0.36 50.2 92.8 90.4 81.7 20.2 39.3 46.6 56.8 62.5 26.3 3.7 7.3 7.5 5.9 1.1 Prime Prime Prime Prime Foreign 8 Demand 7 9 Fixed rate 10 Floating rate 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 + - Prime Foreign 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 prime 1 0 37 Overnight 6 3,062,263 8,774 One month and under 38 (excluding overnight) 1.392.280 2.169 Over one month and 39 under one year 1,804,529 253 1,447,294 568 7,706,364 5,574,232 2.132,132 723 916 466 40 Demand 7 41 Total under one year 42 Fixed rate 43 Floating rate Prime Rate 9 Nominal 8 4.32 4.28 5.0 58.8 9.3 6.75 21 4.71 4.66 27.2 64.5 7.7 6.80 144 5.29 5.24 49.8 71.2 15.7 6.98 5.02 5.00 28.4 89.4 13.0 6.84 4.75 4.61 5.11 4.71 4.57 5.06 23.9 16.7 42.8 68.5 63.4 81.7 11.2 8.9 17.2 6.83 6.83 6.82 5.21 5.25 5.19 5.11 5.16 5.09 18.1 24.0 15.4 24 1 39.2 17.3 16 25 12 696 6 81 7 03 47 33 108 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 1,410,101 435,557 974,544 619 331 1,012 25 36 21 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.
