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FEDERAL RESERVE statistical r I ijl' E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 3 - 7 , 1 9 9 2 TABLE 1 Commercial and Industrial loans made by all commercial banks Loan Characteristics Average Size ($1,000) • f ^ L R E ^ •** For Immediate Release March 13,1992 IcpRRFSEARCHLiB^' Loan Rate (percent) Amount of Loans ($1,000) W* 1 1 1 9 9 2 Weighted Average Maturity2 Percent of Amount of Loans Made Under Weighted Average Effective 3 Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight 6 7,764,001 8,011 - 4.72 0.20 5.2 60.8 1.3 Other Floating rate 5,797,117 4,664,253 1,132,864 2,447 4,241 893 19 19 21 5.33 5.16 6.01 0.15 0.21 0.17 28.5 24.4 45.5 83.4 80.8 94.1 9.7 7.8 17.7 Other Other Prime Over one month and 5 under one year 6 Fixed rate 7 Floating rate 5,864,338 2,531,711 3,332,628 451 1,004 318 156 143 165 5.92 5.38 6.32 0.13 0.22 0.15 53.1 48.1 56.9 86.7 78.1 93.2 14.9 18.3 12.3 Prime Domestic Prime 8 Demand 7 9 Fixed rate 10 Floating rate 13,640,035 3,753,232 9,886,804 459 1,539 362 — 5.93 5.46 6.11 0.14 0.21 0.15 54.9 42.2 59.7 62.5 81.5 55.3 14.1 35.9 5.9 Prime Other Prime 11 Total under one year Fixed rate 12 By size ($1,000) 13 1-99 14 100 - 499 15 500 - 999 16 1 000 - 4999 17 5000 - 9999 18 10000 + Floating rate 19 By size ($1,000) 20 1-99 21 100-499 22 500 - 999 1 000 - 4999 23 24 5000 - 9999 25 10000 + 33,065,492 718 53 5.54 0.13 38.3 70.1 10.5 Other 18,713,196 76,310 201,634 276,298 2,805,798 3,124,989 12,228,168 2,662 22 226 681 2,312 6,737 19,141 31 125 82 54 35 43 26 5.07 8.18 6.70 5.72 5.38 5.02 4.95 0.20 0.04 0.16 0.09 0.10 0.13 0.21 23.2 72.1 61.0 41.7 28.1 21.3 21.2 72.3 53.6 78.1 85.0 82.2 70.3 70.3 12.1 1.5 7.8 14.9 9.7 7.3 14.0 Other Prime Prime Foreign Other Other Other 14,352,295 772,859 1,795,472 1,047,331 2.791,449 1,795,123 6,150,062 368 29 206 661 1,997 6,737 26,011 128 147 150 138 137 113 117 6.15 7.80 7.38 7.12 6.81 6.22 5.10 0.15 0.05 0.05 0.07 0.07 0.17 0.36 57.9 81.3 74.7 65.5 62.0 49.3 49.5 67.2 86.5 89.5 89.2 87.2 79.9 41.6 8.3 2.3 6.2 11.8 15.4 13.9 4.1 Prime Prime Prime Prime Prime Prime Fed Funds One month and under 2 ^excluding overnight) 4 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 4,307,012 794 41 6.38 0.17 50.7 83.7 15.2 Prime 1,384,292 19,672 45,698 50,532 1,268,389 1,054 23 225 698 6,792 44 40 49 42 44 5.62 9.07 7.78 6.62 5.45 0.34 0.17 0.20 0.60 0.29 45.8 87.9 75.1 53.7 43.8 94.3 32.3 68.3 68.9 97.2 26.7 3.4 8.6 7.1 28.4 Domestic Other Other Other Domestic 2,922,720 64,042 312,449 250,890 2,295,338 710 34 225 689 4,992 40 35 37 34 41 6.74 7.84 7.45 7.21 6.56 0.10 0.06 0.09 0.13 0.17 53.0 78.5 73.0 59.3 48.8 78.7 66.8 81.8 85.0 78.0 9.7 6.8 12.3 19.2 8.4 Prime Prime Prime Prime Prime Prime Rate9 Nominal 6 Days Loans made below prime 1 0 37 Overnight 6 7,742,529 8,336 — 4.71 4.69 5.1 60.8 1.3 6.50 One month and under 38 (excluding overnight) 5,191,001 5,462 19 5.07 5.05 22.6 82.8 8.1 6.50 Over one month and 39 under one year 3,567,447 3,175 151 4.97 4.91 40.3 86.5 18.8 6.50 7,456,149 4,648 — 4.72 4.67 40.8 45.8 12.0 6.51 23,957,127 17,057,358 6,899,769 5,200 5,712 4,258 39 29 109 4.83 4.85 4.78 4.79 4.82 4.73 25.3 18.0 43.3 64.7 70.6 50.1 8.7 10.1 5.1 6.51 6.50 6.51 5.03 5.10 4.95 4.98 5.03 4.90 48.1 38.8 60.6 93.4 98.9 86.1 23.2 32.8 10.3 6.52 6.51 6.52 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 DigitizedFootnotes for FRASER appear on the last page. 1,892,019 1,086,069 805,950 3,562 4,140 2,998 41 39 44 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 3 - 7 , 1 9 9 2 TABLE 2 Commercial and Industrial loans made by large banks 1 Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) Weighted Average Effective 3 Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight Weighted Average Maturity2 Percent of Amount of Loans 6 6,910,971 8,208 — 4.72 0.17 3.8 57.4 1.4 Other 5,337,030 4,348,473 988,558 3,520 5,455 1,375 19 19 20 5.30 5.15 5.97 0.15 0.20 0.20 27.2 23.0 45.7 828 Floating rate 94.7 80.1 8.8 6.8 17.9 Other Other Prime Over one month and 5 under one year Fixed rate 6 7 Floating rate 4,560,732 2,171,362 2,389,370 818 2,218 520 153 149 157 5.78 5.28 6.24 0.14 0.22 0.14 52.8 48.4 56.9 86.7 79.7 93.0 17.1 19.5 14.9 Prime Domestic Prime 8 Demand 7 Fixed rate 9 10 Floating rate 10,958,268 3,218,054 7,740,214 689 1,902 544 — 5.78 5.52 5.89 0.15 0.24 0.14 54.1 44.8 58.0 56.8 78.8 47.6 14.6 40.6 3.8 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 1 000 - 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 + 27,767,002 1,164 48 5.43 0.13 36.2 66.8 10.6 Other 16,648,860 38,661 139,985 220,134 2,403,667 2,623,272 11,223,141 3,863 28 236 674 2,310 6,744 19,495 31 118 72 53 34 45 26 5.06 7.98 6.59 5.67 5.38 4.97 4.97 0.18 0.30 0.24 0.09 0.10 0.19 0.20 22.6 74.1 59.4 37.9 27.7 19.6 21.2 70.4 62.0 80.1 84.9 80.7 66.6 68.7 12.8 2.0 7.2 8.6 9.8 7.5 14.8 Other Prime Prime Other Other Other Other 11,118,142 368,635 1,026,704 649,734 2,029,431 1,512,670 5,530,968 569 30 210 663 2,064 6,802 28,135 117 147 144 133 132 105 101 5.97 7.73 7.33 7.12 6.78 6.23 5.11 0.15 0.06 0.05 0.08 0.08 0.17 0.39 56.7 80.2 71.7 62.2 45.5 53.4 61.5 85.6 89.9 90.1 88.6 82.0 35.8 7.4 1.9 5.9 9.7 13.2 11.5 4.6 Prime Prime Prime Prime Prime Prime Fed Funds One month and under 2 ^excluding overnight) 4 60.1 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) 1-99 33 34 100-499 35 500-999 36 1000 + 3,795,772 1,130 42 6.31 0.17 49.1 85.1 16.3 Prime 1,212,905 8,826 28,748 44,474 1,130,857 1,734 25 242 707 7,179 44 37 48 44 44 5.48 8.78 7.32 6.55 5.37 0.32 0.49 0.27 0.60 0.29 46.1 88.3 68.5 51.2 45.0 97.6 35.6 73.2 74.6 99.6 30.0 2.3 7.2 31.6 Domestic Other Other Other Domestic 2,582,867 34,088 236,977 204,581 2,107,222 971 37 228 698 5,297 40 34 36 34 41 6.70 7.77 7.48 7.22 6.55 0.11 0.12 0.11 0.18 0.20 50.5 76.1 73.3 59.7 46.7 79.2 72.4 83.5 86.4 78.1 13.4 20.3 8.6 Days Loans made below prime 1 0 37 Overnight 6 6,892,046 8,408 One month and under 38 (excluding overnight) 4,835,105 5,990 Over one month and 39 under one year 3,027,094 4,257 40 Demand 7 6,509,695 5,723 21,263,940 15,221,141 6,042,799 6,118 6,381 5,543 1,744,858 1,000,794 744,064 4,204 4,635 3,736 41 Total under one year 42 Fixed rate 43 Floating rate 8.1 9.9 8.1 Prime Prime Prime Prime Prime Prime Nomlnal8 4.71 4.69 3.8 57.3 1.4 6.50 19 5.07 5.05 21.7 82.1 7.2 6.50 149 4.97 4.92 42.9 86.3 21.1 6.50 4.70 4.65 44.5 38.1 12.9 6.51 37 29 95 4.83 4.86 4.76 4.79 4.83 4.71 25.9 17.5 47.0 61.2 68.3 43.2 9.0 10.5 5.3 6.50 6.50 6.50 5.02 5.09 4.93 4.96 5.02 4.88 49.3 40.5 61.2 94.5 99.5 87.7 24.7 35.3 10.3 6.51 6.51 6.52 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 42 38 46 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 3 - 7 , 1 9 9 2 TABLE 3 Commercial and Industrial loans made by other banks 1 Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) One month and under ^excluding overnight) 2 4 Floating rate Over one month and 5 under one year 6 Fixed rate 7 Floating rate 8 Demand 7 Fixed rate 9 10 Floating rate 11 Total under one year Fixed rate By size ($1,000) 1-99 100-499 500-999 1 000 - 4999 5000 - 9999 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 + 12 13 14 15 16 17 18 Weighted Average Effective 3 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 6 Weighted Average Maturity2 853,030 6,708 — 4.73 0.38 16.1 89.1 0.0 Foreign 460,086 315,780 144,306 540 1,043 262 24 23 24 5.65 5.34 6.32 0.19 0.27 0.22 43.8 44.0 43.6 90.1 90.2 90.1 20.1 21.7 16.6 Foreign Foreign Prime 1,303,606 360,348 943,258 175 234 160 163 107 184 6.39 6.02 6.54 0.16 0.26 0.17 54.1 46.6 57.0 86.7 68.5 93.6 7.1 11.4 5.5 Prime Domestic Prime 2,681,767 535,177 2,146,590 194 716 164 6.52 5.09 6.88 0.17 0.31 0.16 58.1 27.0 65.9 85.9 97.5 83.1 12.1 7.2 13.3 Prime Foreign Prime :: 5,298,490 239 86 6.13 0.14 49.1 87.0 9.6 2,064,336 37,649 61,648 56,164 402,131 501,717 1,005,027 759 19 206 710 2,321 6,703 15,914 31 130 98 57 43 34 16 5.14 8.40 6.94 5.94 5.34 5.23 4.75 0.22 0.12 0.19 0.23 0.08 0.17 0.06 28.5 70.0 64.8 56.6 31.0 30.1 21.4 87.8 44.9 73.5 85.0 91.2 89.5 88.3 7.2 1.0 9.1 39.5 9.2 6.3 5.1 Foreign Prime Prime Foreign Foreign Foreign Foreign 3,234,154 404,224 768,768 397,597 762,018 282,453 619,094 166 28 201 656 1,839 6,410 15,531 163 147 157 147 152 154 203 6.75 7.87 7.46 7.12 6.90 6.16 5.00 0.16 0.07 0.08 0.13 0.19 0.27 0.47 62.3 82.2 78.6 70.9 67.1 69.4 14.3 86.5 87.4 89.0 87.8 83.7 68.6 93.5 11.2 2.6 6.7 15.3 21.5 26.4 0.0 Prime Prime Prime Prime Prime Prime Fed Funds 511,240 247 40 6.89 0.15 61.9 73.8 6.3 Prime 171,387 10,847 16,950 6,059 137,532 279 22 203 643 4,708 43 41 50 30 43 6.62 9.31 8.58 7.13 6.15 0.27 0.11 0.15 0.41 0.61 43.5 87.6 86.2 71.7 33.5 70.5 29.6 59.9 27.1 77.0 3.1 4.4 11.0 0.0 2.2 Other Other Prime Other Other 339,853 29,955 75,473 46,309 188,116 234 31 213 655 3,033 39 37 38 35 40 7.02 7.93 7.35 7.16 6.71 0.11 0.08 0.09 0.12 0.24 71.2 81.3 71.8 57.4 72.8 75.5 60.3 76.2 79.0 76.8 8.0 5.4 8.8 14.6 6.4 Prime 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 Rate® Nominal 6 Days Loans made below prime 1 0 37 Overnight 6 850,483 7,795 — 4.73 4.66 16.2 89.3 0.0 6.50 One month and under 38 (excluding overnight) 355,897 2,487 23 5.06 5.00 34.4 92.9 20.9 6.53 165 4.95 4.88 25.7 87.4 5.4 6.52 Over one month and 39 under one year 540,353 1,310 40 Demand 7 946,454 2,028 — 4.83 4.78 15.4 98.7 6.3 6.54 2,693,186 1,836.216 856,970 2,380 3,054 1,616 56 22 173 4.85 482 4.92 4.79 4.77 4.84 20.2 21.7 17.0 92.7 89.9 98.7 6.1 7.0 4.0 6.52 6.50 6.56 147,162 85,275 61,886 1,267 1,838 887 5.15 5.14 5.17 5.13 5.14 5.12 33.4 18.8 53.4 81.1 91.6 66.5 6.2 3.6 9.8 6.57 6.54 6.60 41 Total under one year 42 Fixed rate 43 Floating rgte Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 38 45 29 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. 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.
@FedFRASER