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^OFCOvV-.

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.