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MSB*-. FEDERAL RESERVE statistical release f]rE K E I W R E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 5 - 9 , 1 9 9 6 W f i Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) i mm Weighted Average Maturity Weighted Average Effective3 of Loans Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 13,640,713 13,851,955 11,556,700 2,295,255 1,871 2,889 674 9,972,188 4,910,574 5,061,614 189 259 149 8 Demand 7 9 Fixed rate 10 Floating rate 19,456,682 8,792,514 10,664,167 311 1,672 186 11 Total under one year Fixed rate By size ($1,000) 12 1-99 13 100 - 499 14 500 - 999 15 1000 - 4999 16 5000 - 9999 17 10000 + 18 Floating rate By size ($1,000) 19 1-99 20 100 - 499 21 500 - 999 22 1000 - 4999 23 5060-9999 24 10000 + 25 56,921,538 457 5.94 0.24 11.8 61.7 0.4 Other 17 16 18 6.37 6.29 6.76 0.16 0.23 0.22 21.5 19.5 32.0 63.0 58.7 84.6 5.8 6.1 3.9 Other Other Foreign 146 126 165 7.31 6.49 8.10 0.16 0.25 0.18 47.7 35.1 59.9 84.8 82.7 86.8 8.8 12.2 5.6 Prime Foreign Prime — 7.07 5.79 8.12 0.17 0.23 0.17 44.7 15.9 68.5 60.5 49.0 70.0 5.5 7.7 3.6 45 6.67 0.15 31.7 65.7 4.9 5.3 4.5 7.9 11.3 5.6 7.4 4.6 4.2 1.5 5.4 7.0 4.8 8.6 2.0 7,753 1 Overnight® 2 3 4 For Immediate Release March 13.1996 2o 896 TABLE 1 Commercial and Industrial loans made by all commercial banks RES^- One month and under (excluding overnight) Fixed rate Floating rate Over one month and 5 under one year 6 Fixed rate 7 Floating rate — Prime Other Prime Other Other Other Other Foreign Other Other Other 38,900,501 354,339 509,988 627,405 5,624,317 5,370,005 26,414,448 1,298 16 216 694 2,399 6,645 21,542 27 127 102 61 36 34 20 6.08 9.77 7.60 7.03 6.68 6.27 5.81 0.22 0.15 0.08 0.16 0.08 0.08 0.13 17.9 84.2 68.6 45.4 35.7 19.7 11.3 60.6 47.6 77.8 78.6 73.4 62.9 56.8 18,021,037 1,833,124 3,561,980 1,537,083 3,960,005 1,519,985 5,608,860 191 26 199 671 1.892 6,626 19,108 119 164 154 150 119 84 94 7.94 9.67 9.10 8.55 8.10 7.13 6.58 0.18 0.05 0.03 0.09 0.12 0.20 0.25 61.5 80.5 73.8 66.5 58.6 42.2 53.3 76.6 86.1 87.6 90.1 86.4 82.4 54.2 7,996,293 290 46 7.90 0.15 64.5 78.6 8.3 Prime 0.27 0.17 0.25 0.34 0.44 68.1 93.8 85.3 71.8 62.8 58.6 29.1 50.2 76.2 61.9 10.1 0.5 6.3 7.3 11.9 Other Other Other Other Other 0.15 0.04 0.03 0.07 0.26 63.1 88.1 76.3 70.6 57.1 86.2 71.6 83.2 84.2 88.3 7.6 3.0 9.4 10.7 7.0 Prime Prime Prime Prime Foreign Prime Prime Prime Prime Prime Prime Fed Funds Months 26 Total one year and over Fixed rate By size ($1,000) 27 1-99 28 100 - 499 29 500 - 999 30 1000 + 31 Floating rate By size ($1,000) 32 1-99 33 100 - 499 34 500 - 999 35 1000 + 36 2,201,220 198,295 194,712 107,721 1,700,492 193 20 197 693 5,039 51 43 51 47 52 7.90 9.79 9.10 7.44 7.57 5,795,073 305,194 904,935 608,727 3,976,217 358 30 215 675 4,390 45 39 37 42 47 7.90 9.56 8.95 8.51 7.44 Pnme Loans made below prime 37 OvemightS 38 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 Nominal 8 Days 10 5.86 5.69 9.7 60.7 0.4 8.25 17 6.23 6 05 19.2 62.2 5.7 8.25 711 135 6.27 6.12 32.4 85.8 10.3 8.30 2,446 — 5.84 5.68 29.0 44.9 5.9 8.25 6.02 5.95 6.36 5.86 5.78 6.19 21.0 15.5 46.4 60.5 60.3 61.8 4.9 5.3 3.0 8.26 8.25 8.28 6.70 6.76 6.67 6.51 6.59 6.48 59.1 63.1 57.2 78.5 62.6 86.1 7.9 15.3 4.3 8.28 8.30 8.27 13,287,632 9,746 13,233,783 4,327 6,693,269 12,418,928 45,633,612 37,464,802 8,168,810 2,413 3,908 876 34 26 92 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 4,295,927 1,387,530 2,908,397 803 476 1,196 48 46 49 E2 SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 5 - 9 , 1 9 9 6 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 Maturlty2 1 Overnight6 11,415,352 9,656 Fixed rate Floating rate 9,284,' 565 1,345,429 4,311 5^527 1,711 Over one month and 5 under one year 6 Fixed rate 7 Floating rate 5,911,705 3,148,029 2,763,676 767 2,608 425 12,814,043 6,791,434 6,022,609 535 5,158 266 40,771,093 1,155 35 30,639,379 17,217 227,503 390,403 3,980,516 4,153,493 21,870,248 5,689 27 253 699 2,374 6,646 21,877 22 133 84 53 33 33 16 10,131,713 613,178 1,614,338 775,920 2,036,685 927,082 4,164,511 339 32 204 663 1,930 6,611 20,261 114 149 151 145 116 78 108 5,324,265 860 1,395,880 9,623 60,114 54,384 1,271,759 3,928,385 81,005 533,589 386,093 2,927,699 One month and under 8 Demand 7 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 1000 - 4999 16 17 5000-9999 10000 + 18 Floating rate By size ($1,000) 19 20 1-99 21 100 - 499 500 - 999 22 1000 - 4999 23 5000 - 9999 24 10000 + 25 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 + Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 5.91 0.20 9.4 62.8 0.3 Other 17 17 626 6.66 0.17 0.26 16*3 30.5 63.1 58.8 92.8 4.3 4.5 2.5 Other Other Foreign 134 109 161 7.00 6.38 7.70 0.14 0.18 0.18 38.7 28.6 50.3 89.6 90.9 88.2 9.4 11.4 7.0 Foreign Foreign Prime 6.50 5.49 7.63 0.19 0.25 0.19 40.1 12.5 71.3 55.5 47.9 64.2 6.6 9.8 3.1 6.36 0.14 25.6 64.5 4.6 Other 5.97 8.34 7.31 6.93 6.62 6.25 5.77 0.15 025 0.18 0 22 0.09 0.26 0.17 14.2 73.7 56.3 40.3 31.9 18.8 9.1 61.2 73.5 80.9 83.3 71.4 62.2 58.5 4.8 5.2 8.5 9.2 4.9 7.1 4.3 Other Other Foreign Foreign Other Other Other 7.52 9.45 8.97 8.38 7.82 6.98 6.49 0.18 0.05 0.04 0.07 0.10 0.26 0.43 60.1 76.4 71.5 63.1 52.9 38.4 61.1 74.6 90.4 92.2 92.8 92.3 91.0 49.6 4.1 1.3 3.7 8.2 5.8 5.4 2.7 Prime Prime Prime Prime Prime Prime Fed Funds 47 7.86 0.15 61.1 86.4 9.8 Prime 1,764 32 267 686 6,764 48 42 42 49 49 7.70 8.90 8.36 727 7.68 0.25 0.16 0.34 0.39 0.55 61.0 90.3 74.2 70.5 59.8 66.0 63.3 84.6 82.5 64.5 14.5 9.4 12.4 2.3 15.2 Domestic Other Foreign Other Domestic 728 43 234 688 4,339 47 34 36 39 50 7.92 9.20 8.90 8.53 7.63 0.11 0.07 0.10 0.12 0.30 61.2 83.6 72.7 65.8 57.8 93.6 88.2 87.9 93.7 94.7 8.1 4.2 10.0 10.3 7.5 Prime Prime Prime Prime Foreign 6 I 11,177,782 11,145 10,400,816 5,392 Over one month and 39 under one year 4,425,262 2,593 40 Demand 7 9,636,925 3,790 41 Total under one year 42 Fixed rate 43 Floating rate 35,640,785 30,025,511 5,615,274 4,963 6,632 2,116 44 Total one year and over 45 Fixed rate 46 Floating rate 2,867,846 939,619 1,928,228 2,675 2,273 2,928 One month and under 38 (excluding overnight) Domestic Domestic Prime Months Days Loans made below prime1® 37 Overnight Made Under Days All C&l loans 3 4 Weighted Average Effective^ Percent of Amount of Loans Rate 9 Nominal 8 5.85 5.68 7.8 62.0 0.3 8.25 17 6.25 6.07 17.2 63.1 4.3 8.25 123 6.26 6.10 26.9 88.7 9.0 8.25 5.64 5.49 30.6 42.5 7.3 825 5.96 5.91 6.24 5.80 5.75 6.07 19.0 12.9 51.9 60.4 60.6 59.0 4.4 4.9 2.0 825 825 825 6.72 6.64 6.76 6.53 6.47 6.56 58.7 60.0 58.1 86.4 65.1 96.7 9.2 20.9 3.5 825 825 825 28 21 91 Months Footnotes appear on the last page. 49 44 52 E2 SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 5 - 9 , 1 9 9 6 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 Percent of Amount of Loans Made Under Weighted Average Effective3 Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight6 2,225,361 3,856 One month and under 2 (excluding overnight) 3 Fixed rate 4 Floating rate 3,221,961 2,272,135 949,826 Over one month and 5 under one year 6 Fixed rate 7 Floating rate - 6.07 0.33 23.8 56.1 1.4 Fed Funds 652 979 363 16 15 18 6.58 6.44 6.91 0.20 0.28 0.26 32.9 32.4 34.1 62.7 58.5 72.9 10.6 12.6 6.0 Fed Funds Fed Funds Foreign 4,060,483 1,762,545 2,297,939 90 99 84 163 156 169 7.76 6.68 8.58 0.19 0.31 0.20 60.8 46.7 71.5 77.8 68.2 85 2 8.1 13.6 3.8 Prime Other Prime 6,642,639 2,001,081 4,641,558 172 508 134 - 8.17 6.81 8.76 0.16 0.27 0.16 53.6 27.1 65.0 70.1 53.1 77.5 3.3 0.7 4.4 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 1000-4999 17 5000 - 9999 18 10000 + C|M4||V« raw rvoaiing MfA 19 By size ($1,000) 20 1-99 21 100 - 499 22 500-999 23 1000 - 4999 24 5000 - 9999 25 10000 + 16,150,445 181 75 7.46 0.16 47.2 68.6 5.7 Prime 8,261,122 337,122 282,484 237,002 1,643,802 1,216,512 4,544,200 336 16 193 686 2,462 6,644 20,064 50 127 116 73 44 37 44 6.48 9.84 7.83 7.19 6.84 6.35 6.01 0.25 0.16 0.24 0.55 0.45 0.31 0.21 31.8 84.7 78.6 54.0 44.7 22.7 21.7 58.6 46.2 75.3 70.8 78.3 65.7 48.9 6.9 4.4 7.4 14.9 72 8.6 6.1 Other Other Other Other Other Other Fed Funds 7,889,323 1,219,946 1,947,642 761,163 1,923,321 592,903 1,444,349 122 23 196 680 1,854 6,650 16,415 125 168 155 155 125 95 60 8.48 9.78 9.21 8.73 8.40 7.37 6.86 0.17 0.03 0.04 0.10 0.12 0.43 0.31 63.2 82.6 75.7 70.1 64.6 48.0 30.7 79.2 84.0 83.8 87.4 80.2 68.9 67.3 4.4 1.7 6.9 5.7 3.7 13.5 0.0 Prime Prime Prime Prime Prime Other Foreign 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 + 2,672,028 125 45 7.98 0.16 71.2 63.1 5.3 Prime 805,340 188,672 134,598 53,337 428,733 76 20 176 701 2,869 55 43 55 45 61 8.26 9.84 9.43 7.61 727 025 0.17 0.25 0.40 0.31 80.3 94.0 90.3 73 2 71.9 45.7 27.3 34.9 69.8 54.3 2.5 0.1 3.5 12.4 2.0 Other Other Other Other Other 1,866,688 224,189 371,346 222,634 1,048,518 173 27 193 655 4,537 40 41 37 45 40 7.86 9.69 9.04 8.47 6.92 0.20 0.04 0.13 0.08 0.42 67.2 89.8 61.5 78.9 54.9 70.7 65.6 76.5 67.8 70.2 6.5 2.6 8.4 11.5 5.7 Prime Prime Prime Prime Foreign 8 Demand 7 9 Fixed rate 10 Floating rate Months I | 1 Loans made below prime 0 37 Overnight6 38 One month and under (excluding overnight) Days | I | Prime Rate 9 Nominal 8 | 2,109,850 5,853 - 5.91 5.74 19.7 53.9 1.5 8.25 2,832,967 2,508 16 6.14 5.97 26.5 59 2 10.8 8.26 Over one month and 39 under one year 2,268,006 294 158 6.30 6.14 43.1 80.0 12.7 8.40 40 Demand 7 2,782,003 1,098 — 6.53 6.35 23.5 53.1 1.0 8.26 41 Total under one year 42 Fixed rate 43 Floating rate 9,992,826 7,439,291 2,553,536 852 1,471 383 56 46 93 6.24 6.10 6.63 6.07 5.94 6.45 28.0 25.8 34.2 61.1 58.8 67.8 6.5 6.9 5.4 8.29 8.27 8.35 44 Total one year and over 45 Fixed rate 46 Floating rate 1,428,081 447,911 980,169 334 179 553 6.66 7.01 6.50 6.49 6.84 6.32 59.8 69.6 55.4 62.7 57.3 65 2 5.2 3.5 6.0 8.34 8.40 8.31 Months Footnotes appear on the last page. 46 50 45 | 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.
