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.•jgstisS;--. FEDERAL RESERVE statist! " - fML Rts^; For Immediate Release E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 6-10, 1 TABLE 1 Commercial and Industrial loans made by all commercial banks1 March 22, 1995 FRB RESEARCH LIBRARY Percent of Amount of Loans Loan Rate (percent) Amount Loan Characteristics Average Weighted of Loans ($1,000) Size ($1,000) Average Maturity2 Weighted Average Effective^ Most Common Made Under Standard Error 4 S e c u r e d by Collateral Commitment Participation Base Pricing Rate 5 Days All C&l loans 1 Overnights 13,341,829 8,469 - 6.67 0.23 8.0 55.7 3.6 Other 2 3 4 One month and under (excluding overnight) frxed rate Floating rate 12,874,605 10,566,420 2,308,185 1,755 2,657 687 15 13 22 7.15 7.00 7.82 0.17 0.21 0.25 20.3 15.2 43.9 58.9 53.1 85.4 7.2 7.5 6.0 Other Other Foreign 5 6 7 Over one month and under one year Fixed rate Floating rate 10,119,116 4,307,767 5,811,348 194 198 191 157 121 183 8.18 7.48 8.70 0.14 0.15 0.23 40.1 26.9 49.9 78.9 76.8 80.5 6.9 9.2 5.2 Prime Foreign Prime Demand 7 Fixed rate Floating rate 15,875,734 4,786,759 11,088,976 298 987 229 - 8.00 6.74 8.54 0.16 0.21 0.18 57.9 20.1 74.1 62.7 54.5 66.2 3.8 3.9 3.7 Prime Other Prime 52,211,284 456 49 7.49 0.14 32.4 63.1 5.2 Other 33,002,622 310,131 327,143 494,935 4,706.479 5,259,726 21,904,208 1,025 12 220 677 2,310 6,616 20,220 24 155 69 53 39 27 18 6.89 9.33 8.36 7.89 7.32 7.00 6.70 0.16 0.20 0.22 0.17 0.10 0.08 0.07 14.5 83.1 61.4 43.0 26.4 18.2 8.8 57.5 45.9 71.5 73.0 72.2 71.6 50.5 5.6 0.5 4.9 5.5 4.7 9.4 5.0 Other Other Other Other Other Other Other 19,208,662 1,580,027 3,325,193 1,663,779 4,142,326 1.909,577 6,587,761 234 26 200 669 1,973 6,618 21,928 137 159 155 172 149 131 110 8.50 10.30 9.86 9.54 8.76 7.77 7.18 0.19 0.04 0.03 0.12 0.13 0.29 0.47 63.2 82.0 77.3 69.6 62.0 41.2 57.0 72.8 85.1 85.6 81.2 85.8 78.0 51.7 4.4 2.8 5.7 5.5 8.0 3.5 2.0 Prime Prime Prime Prime Prime Prime Fed Funds 6,729,813 270 47 8.80 0.15 70.1 75.1 5.1 Prime 1,655,151 191,827 208,452 165,819 1,089,055 157 22 180 590 3,841 59 50 60 69 59 8.20 9.82 9.13 8.07 7 75 0.24 0.21 0.17 0.55 0.33 66.6 94.7 90.0 74.6 56.0 64.5 33.0 68.1 64.4 69.4 3.9 0.3 0.7 0.8 5.6 Other Other Other Other Other 5,074,661 301,207 751,404 590,225 3,431,825 351 32 222 686 3/23 43 40 40 37 44 9.00 10.12 9.69 9.62 8.65 0.14 0.02 0.06 0.22 0.30 71.2 90.3 81.3 79.3 65.9 78.5 66.0 78.7 79.7 79.4 5.5 8.8 9.9 6.7 4.0 Prime Prime Prime Prime Prime 8 9 10 11 Total under one year Hxed rate 12 By size ($1,000) 13 1-99 14 1 0 0 - 499 15 5 0 0 - 999 16 1 0 0 0 - 4999 17 5 0 0 0 - 9999 18 10000 + Floating rate 19 By size ($1,000) 20 1-99 21 1 0 0 - 499 22 5 0 0 - 999 23 1 0 0 0 - 4999 24 5 0 0 0 - 9999 25 10000 + Months 26 Total one year and over Fixed rate 27 By size ($1,000) 28 1-99 29 1 0 0 - 499 30 5 0 0 - 999 31 1000 + Floating rate 32 By size ($1,000) 33 1-99 34 1 0 0 - 499 35 500 - 999 36 1000 + Days Loans made below p r i m e 1 0 37 OvernightG One month and under 38 (excluding overnight) Over one month and 39 under one year 40 Demand 7 41 Total under one year 42 Fixed rate 43 Floating rate Prime Rate 9 Nominal Q 13,143,078 9,645 - 6.63 6.42 7.1 55.0 3.7 9.00 12,299,429 3,849 15 7.01 6.78 18.0 58.3 7.5 9.00 6,697,003 717 147 7.18 7.01 24.4 80.4 7.6 9.06 9,523,128 2,093 -- 6.77 6.68 45.0 44.1 2.7 9.00 41,662,637 31,960,291 9,702,347 2,259 2,707 1,462 37 22 119 6.86 6.79 7.08 6.68 6.61 6.92 21.8 13.0 50.7 57.6 57.4 58.2 5.2 5.6 3.7 9.01 9.01 9.03 7.40 7.18 7.52 7.27 7.07 7.38 55.1 52.0 56.7 79.1 61.4 88.4 4.5 6.2 3.6 9.08 9.12 9.05 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 3,000,086 1,034,466 1,965,619 589 321 1,050 42 39 44 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 6-10,1995 TABLE 2 Commercial and Industrial loans made by large banks1 Percent of Amount of Loans Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) Weighted Average Maturity2 Weighted Average Effective 3 Made Under Standard Error4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight 6 One month and under 2 (excluding overnight) 3 Fixed rate 4 Floating rate Over one month and 5 under one year 6 Fixed rate 7 Floating rate 8 9 10 Demand 7 Fixed rate Floating rate 11 Total under one year Fixed rate 12 By size ($1,000) 13 1-99 14 1 0 0 - 499 15 500 - 999 16 1 0 0 0 - 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 + 9,248,362 7,895 -- 6.75 0 20 8.9 57.2 1.7 Other 10.580,960 8,597,986 1,982,974 4,902 5,969 2,761 15 13 22 7.14 7.02 7.67 0.17 0.11 0.28 21.2 16.0 43.5 58.3 51.5 87.7 8.4 8.9 6.2 Other Other Foreign 6,074,930 2,852,024 3,222,907 871 2,741 543 143 109 174 7.82 7.43 8.15 0.14 0.13 0.22 32.5 26.5 37.8 80.5 77.7 82.9 8.4 13.7 3.7 Foreign Other Prime 10,271,619 3,483,230 6,788,389 478 3,203 333 7.67 6.58 8.23 0.17 0.18 0.21 55.5 10.2 78.7 53.0 46.0 56.6 4.8 4.5 4.9 Prime Domestic Prime 36,175,871 1,137 40 7.30 0.14 29.7 60.2 5.7 Other 24,181,601 17,863 169,551 308,828 3,401,799 3,953,181 16,330,379 5.102 27 250 670 2,290 6/42 18,857 21 87 67 48 34 20 18 6.90 8.72 8.03 7.67 7.29 7.07 6.75 0.12 0.41 0.20 0.09 0.10 0.09 0.08 13.7 71.6 55.2 41.0 25.3 17.8 9.2 56.0 76.1 75.7 85.1 69.6 67.7 49.5 6.1 2.8 3.7 7.4 6.0 9.1 5.4 Other Other Other Other Other Other Other 11,994,269 541,999 1,465,990 765,789 2,334,432 1,233,250 5,652,810 443 32 202 661 2,013 6,509 24,274 116 151 156 172 143 99 97 8.11 10.21 9.76 9.38 8.63 7.45 7.24 0.19 0.07 0.10 0.11 0.18 0.39 0.49 61.9 80.7 75.3 67.1 57.0 42.0 62.3 68.8 89.0 90.4 90.1 84.8 79.4 49.5 4.8 1.7 4.4 6.9 10.8 5.5 2.3 4,115,294 734 39 8.67 0.15 63.6 82.7 3.9 Prime 719,774 9,924 40,573 35,711 633,565 1,040 30 209 657 5,572 35 45 47 44 34 7.75 9.71 8.46 7.52 7.68 0.26 0.22 0.31 0.65 0.40 65.0 89.0 67.1 43.1 65.8 86.4 57.3 80.5 95.0 86.8 8.6 0.0 0.6 0.0 9.7 Other Other Other Foreign Other 3,395,520 71,099 394,557 329,831 2,600,033 691 34 235 683 3,868 40 29 35 38 42 8.86 9.75 9.60 9.39 8.66 0.13 0.07 0.07 0.14 0.35 63.2 86.9 76.0 73.6 59.3 81.9 86.3 86.1 83.6 80.9 2.9 2.9 6.6 5.4 2.0 Prime Prime Prime Prime Prime Prime Prime Prime Prime Prime Foreign Fed Funds 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 + 37 Overnight 6 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 Loans made below p r i m e 1 0 Prime Rate 9 I 9,089,995 8,949 - 6.70 6.49 7.9 56.4 1.7 9.00 10,245,228 6,279 15 7.04 6.81 19.7 58.1 8.6 9.00 4,690,086 3,018 135 7.12 6.94 24.9 80.1 9.2 9.00 7,119,522 4,006 -- 6.73 6.62 47 7 35.1 3.0 8.99 31,144,831 23,679,074 7,465,757 5,209 5,916 3,778 33 20 102 6.88 6.84 7.03 6.69 6.64 6.85 23.4 12.9 56.8 55.7 55.9 54.8 5.4 6.0 3.5 900 9.00 8.99 7.24 7.16 7.27 7.09 7.07 7.10 46.7 57.8 42.3 93.9 86.5 96.9 5.4 11.7 2.8 9.00 9.00 9.00 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 1,847,959 528,088 1,319,870 2,148 1,811 2,320 40 38 41 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 6-10,1995 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 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 1 Overnight 6 4,093,467 10,130 One month and under 2 (excluding overnight) 3 Fixed rate 4 Floating rate 2,293,645 1,968,434 325,211 Over one month and 5 under one year 6 Fixed rate 7 Floating rate 8 9 10 Demand 7 Fixed rate 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 + - 6.50 0.29 6.1 52.3 8.0 Fed Funds 443 776 123 14 13 21 7.19 6.93 8.80 0.24 0.32 0.29 16.4 11.4 46.2 61.9 60.3 71.3 1.6 1.0 4.8 Fed Funds Fed Funds Prime 4,044,186 1,455,744 2,588,442 90 70 106 176 145 194 8.73 7.58 9.38 0.16 0.18 0.22 51.6 27.8 64.9 76.6 74.9 77.5 4.6 0.3 6.9 Prime Foreign Prime 5,604,116 1,303,529 4.300,587 176 347 153 8.61 7.18 9.04 0.18 0.26 0.19 62.2 46.7 66.9 80.5 77.4 81.4 2.0 2.3 1.9 Prime Other Prime 16,035,413 194 72 7.90 0.16 38.7 69.6 4.1 8,821,020 292,268 157,592 186,107 1,304,679 1,306,545 5.573,829 321 12 195 690 2,363 6,263 25.657 32 158 72 64 55 49 16 6.87 9.37 8.71 8.25 7.41 6.78 6.54 0.18 0.23 0.28 0.28 0.20 0.11 0.21 16.9 83.8 68.0 46.5 29.5 19.1 7.5 61.5 44.1 66.9 52.9 78.9 83.4 53.4 4.3 0.3 6.2 2.4 1.1 10.5 3.9 7,214,393 1,038,028 1,859,203 897,989 1,807,894 676,327 934,951 131 24 199 676 1,924 6,827 13,840 175 161 155 172 162 204 330 9.15 10.34 9.93 9.68 8.92 8.35 6.79 0.21 0.04 0.06 0.17 0.23 0.55 0.49 65.3 82.7 78.9 71.8 68.4 39.8 24.8 79.6 83.1 81.8 73.7 87.1 75.5 65.0 3.8 3.3 6.7 4.4 4.4 0.0 0.0 2.614,518 135 58 9.02 0.17 80.4 63.2 7.0 Prime 935,378 181,902 167,879 130,107 455,490 95 21 174 574 2,682 78 50 63 76 94 8.55 9.83 9.29 8.23 7.85 0.29 0.21 0.21 0.75 0.77 67.9 95.0 95.6 83.3 42.4 47.7 31.7 65.1 56.0 45.3 0.3 0.3 0.7 1.0 0.0 Other Other Other Other Other 1,679,141 230,107 356,847 260,394 831,792 176 32 210 689 3.334 48 44 46 36 53 9.29 10.24 9.79 9.91 8.62 0.19 0.06 0.16 0.32 0.37 87.3 91.4 87.1 86.6 86.5 71.8 59.7 70.5 74.7 74.8 10.7 10.6 13.5 8.4 10.1 Prime Prime Prime Prime Prime Prime Fed Funds Other Other Other Other Fed Funds Fed Funds Prime Prime Prime Prime Prime Prime Other Months 26 Total one year and over Fixed rate 27 By size ($1,000) 28 1-99 29 100- 499 30 5 0 0 - 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 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 4,053,083 11,685 2,054,201 Prime Rate 9 Nominal 8 - 6.46 6.26 5.2 51.8 8.1 9.00 1,314 13 6.85 6.63 9.5 59.3 1.7 9.02 2,006,916 258 177 7.33 7.17 23.1 81.1 4.0 9.20 2,403,605 867 -- 6.90 6.87 37.3 70.8 1.8 9.03 10,517,806 8,281,217 2,236,590 844 1,061 480 48 29 183 6.80 6.68 7.27 6.65 6.50 7.17 16.8 13.2 30.1 63.2 61.5 69.5 4.6 4.6 4.7 9.05 9.02 9.14 1,152,127 506,378 645,749 272 173 495 7.67 7.20 8.03 7.57 7.06 7.97 68.4 46.0 86.1 55.3 35.1 71.0 3.1 0.5 5.1 9.20 9.25 9.16 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 46 39 51 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.
