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FEDERAL RESERVE statistical release For Immediate Release March 24,1993 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 1-5,1995 TABLE 1 Commercial and Industrial loans made by all commercial banks1 MAR 2 9 I 9 9 3 L-- L o a n M e i M W H n b U Loan Characteristics Amount of Loans ($1,000) Weighted Average Maturity2 Average Size ($1,000) Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight6 7,333,668 6,404 7,208,296 5,748,921 1,459,376 963 1,911 326 7,705,951 3,063,944 4,642,006 134 141 130 8 Demand 7 9 Fixed rate 10 Floating rate 14,812,621 4,065,279 10,747,342 288 894 230 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 5000 - 9999 24 10000+ 25 37,060,536 315 2 3 4 Weighted Average Effective3 i p ^ l n t o f Amount of Loans One month and under (excluding overnight) Fixed rate Floating rate Over one month and 5 under one year 6 Fixed rate 7 Floating rate 3.94 0.24 7.1 62.3 6.5 Other 17 17 17 4.20 4.08 4.66 0.20 0.26 0.28 27.0 20.7 52.1 73.3 71.5 80.3 7.7 7.1 10.0 Other Other Prime 150 115 172 5.54 4.83 6.02 0.18 0.26 0.22 55.1 42.6 63.3 83.1 76.3 87.6 5.4 1.6 7.8 Prime Foreign Prime 5.45 4.17 5.93 0.18 0.31 0.16 63.2 23.9 78.0 66.9 67.8 66.5 3.2 3.5 3.1 Prime Domestic Prime 58 4.92 0.17 43.4 70.6 5.2 Prime 0.27 0.24 0.12 0.11 0.05 0.08 0.12 19.7 72.6 58.1 47.8 24.9 16.4 15.6 68.1 36.0 62.2 70.6 75.3 70.5 66.1 5.3 1.0 6.6 8.7 7.1 6.6 4.3 Other Other Other Other Other Domestic Other Prime Prime Prime Prime Prime 20,211,700 339,729 332,759 380,367 3,661,256 3,952,280 11,545,310 663 13 190 645 2,312 6,895 18,611 28 178 87 61 31 27 21 4.16 8.43 6.34 4.97 4.40 4.16 3.86 16,848,836 1,636,952 2,908,572 1,477,933 3,941,534 1,598,714 5,285,131 194 24 196 676 1,973 6,715 22,473 135 159 160 140 154 128 84 5.85 7.42 6.89 6.77 6.09 5.20 4.54 0.18 0.06 0.06 0.14 0.18 0.38 0.44 71.7 83.7 75.5 73.4 60.1 52.5 79.9 73.5 83.4 89.1 89.7 88.0 74.2 46.4 5.0 1.7 6.5 7.6 6.1 6.4 3.3 5,082,959 193 6.39 0.19 64.4 71.9 8.2 Prime 66.9 93.6 93.6 75.8 56.7 62.8 19.1 33.0 49.0 77.1 3.5 0.1 3.2 5.9 4.0 Other Other Prime Other Other 63.3 88.6 75.6 78.8 54.0 75.8 53.4 69.3 72.7 80.7 10.3 2.5 7.5 7.6 12.4 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 33 1-99 100-499 34 500 - 999 35 1000 + 36 44 1,534,899 202,898 185,710 71,990 1,074,302 126 19 168 661 4,138 47 37 50 61 47 6.43 8.98 8.11 7.07 5.62 0.33 0.07 0.28 0.56 0.74 3,548,060 243,261 649,014 423,420 2,232,365 252 25 203 655 3,811 43 43 40 61 41 6.38 8.13 7.30 6.88 5.82 0.18 0.11 0.18 0.21 0.19 37 Overnight6 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 7,183,113 7,338 6,668,363 3,693 4,259,811 626 7,425,035 3,142 25,536,322 19,077,810 6,458,912 2,137 2,839 1,235 Digitized forFootnotes FRASER appear on the last page. 1,751,431 709,950 1,041,480 566 464 667 3.89 3.87 5.7 61.5 6.6 6.00 16 3.97 3.96 23.0 73.3 7.3 6.00 127 4.28 4.25 37.6 86.2 4.8 6.09 3.93 3.90 50.0 46.0 2.3 6.01 3.99 3.98 4.00 3.96 3.96 3.96 28.4 17.0 62.2 64.2 68.3 52.1 5.3 5.5 4.5 6.02 6.01 6.04 4.59 4.36 4.74 4.53 4.32 4.68 42.9 34.9 48.4 81.9 75.5 86.3 4.9 6.5 3.8 6.18 6.14 6.20 36 26 97 I 44 Total one year and over 45 Fixed rate 46 Floating rate Nominal 8 Days Loans made below prime 10 Months 47 42 51 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 1-5,1993 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 Effective3 Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight6 5,687,807 6,871 - 4.00 0.21 8.4 59.7 8.4 Other 5,539,357 4,425,194 1,114,163 3,657 5,202 1,678 16 16 15 4.13 4.09 4.28 0.18 0.18 0.30 28.3 22.0 53.4 74.6 71.7 86.2 6.2 5.6 8.7 Other Other Domestic 3,903,242 1,705,237 2,198,005 718 2,159 473 133 98 160 4.95 4.51 5.28 0.18 0.24 0.22 49.3 44.1 53.4 87.0 81.3 91.4 6.3 1.8 9.7 Prime Foreign Prime 8 Demand 7 9 Fixed rate 10 Floating rate 10,129,528 2,697,965 7,431,564 557 2,520 434 - 5.17 4.06 5.57 0.13 0.18 0.15 64.4 27.5 77.8 61.0 71.1 57.4 1.4 0.2 1.9 Prime Domestic Prime 11 Total under one year Fixed rate 12 By size ($1,000) 13 1-99 25,259,935 972 40 4.64 0.14 41.6 67.7 4.8 Other 14,516,203 20,611 21 122 4.10 6.83 0.17 0.17 201,898 2,350,399 2,732,399 9,083,757 4,102 25 235 680 2,336 6,852 18,767 68.0 56.1 73.0 85.4 71.2 69.6 66.3 5.2 1.6 5.7 6.5 5.7 8.8 4.0 Other Prime Other Other Other Domestic Other 10,743,732 442,319 1,251,008 699,851 2,107,299 1,181,331 5,061,924 479 32 207 670 2,043 6,855 22,624 Prime Prime Prime Prime Prime Prime Fed Funds 2,594,212 693 487,766 14,968 31,728 34,879 406,191 2,106,446 41,178 247,677 205,150 1,612,441 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 14 15 16 17 18 19 20 21 22 23 24 25 100-499 500-999 1000-4999 5000-9999 10000 + Floating rate By size ($1,000) 1-99 100-499 500 - 999 1 000 - 4999 5000 - 9999 10000 + 127,140 40 23 26 17 5.54 4.84 4.51 4.25 3.91 0.14 0.15 0.09 0.10 0.13 20.3 62.7 55.2 36.3 28.1 21.1 17.1 111 146 149 152 138 104 80 5.38 7.26 6.87 6.50 5.94 5.22 4.50 0.18 0.13 0.09 0.15 0.23 0.43 0.45 70.3 82.5 73.8 63.2 52.7 59.9 79.1 67.3 92.0 92.4 87.8 87.8 75.9 45.6 4.2 1.4 3.7 7.1 5.8 4.2 3.5 42 5.94 0.18 51.4 79.1 12.5 Prime 611 30 193 699 4,351 43 45 48 62 41 5.38 9.15 7.58 7.37 4.89 0.35 0.26 0.44 0.49 0.89 43.7 94.3 78.2 75.8 36.4 77.1 18.5 62.2 55.3 82.3 9.4 1.1 4.8 4.1 10.6 Foreign Other Other Other Foreign 715 35 234 659 4,097 42 38 36 35 44 6.07 7.17 6.98 6.52 5.85 0.12 0.13 0.13 0.19 0.14 53.2 87.2 77.4 66.9 46.9 79.6 74.1 82.4 78.7 79.4 13.2 7.8 11.5 13.1 13.6 Prime Prime Prime Prime Prime 70 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 + | I Loans made below prime 10 37 Overnight6 5,553,819 7,646 One month and under 38 (excluding overnight) 5,239,032 5,594 Over one month and 39 under one year 2,749,775 5,785,907 40 Demand 7 41 Total under one year 42 Fixed rate 43 Floating rate 19,328,533 13,917,872 5,410,661 Nominal 8 Days Prime Rate 9 I 3.95 3.94 6.9 58.7 8.6 6.00 15 3.99 3.98 25.5 74.8 5.4 6.00 4,170 114 4.18 4.16 38.9 87.7 6.6 6.00 4,791 — 3.86 3.82 58.4 41.7 0.1 6.00 3.97 4.00 3.87 3.94 3.99 3.83 31.9 18.7 65.9 62.1 67.3 48.8 4.9 5.3 3.8 6.00 6.00 6.00 4.42 4.15 4.54 4.36 4.10 4.47 33.3 23.3 37.8 89.5 86.4 90.9 7.5 13.0 5.0 6.00 6.00 6.00 5,475 5,694 4,982 29 20 82 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 1,067,696 331,369 736,327 2,852 2,916 2,824 46 36 50 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 1-5,1993 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 1 Overnight6 1,645,861 5,186 One month and under 2 (excluding overnight) 3 Fixed rate 4 Floating rate 1,668,939 1,323,727 345,213 Over one month and 5 under one year 6 Fixed rate 7 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 1 000 - 4999 24 5000 - 9999 25 10000 + Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 8 Demand 7 9 Fixed rate 10 Floating rate Weighted Average Effective3 Percent of Amount of Loans - 3.70 0.45 2.6 71.2 0.0 Fed Funds 280 613 91 20 19 21 4.41 4.03 5.88 0.24 0.34 0.29 22.9 16.4 47.8 68.8 70.8 61.1 12.6 12.2 14.1 Fed Funds Fed Funds Prime 3,802,709 1,358,708 2,444,001 73 65 79 167 137 183 6.16 5.22 6.68 0.18 0.29 0.19 60.9 40.7 72.2 79.1 70.0 84.2 4.4 1.4 6.2 Prime Other Prime 4,683,093 1,367,314 3,315,778 141 393 112 6.05 4.37 6.74 0.23 0.41 0.16 60.5 16.7 78.5 79.6 61.3 87.1 7.1 9.9 5.9 Prime Other Prime Prime ~ 11,800,602 129 94 5.52 0.19 47.2 76.7 6.0 5,695,497 319,118 205,619 178,469 1,310,856 1,219,881 2,461,554 211 13 170 609 2,271 6,995 18,058 50 180 95 84 45 31 36 4.30 8.53 6.84 5.13 4.20 3.96 3.70 0.31 0.24 0.10 0.17 0.07 0.09 0.15 18.3 73.3 59.8 60.8 19.1 6.0 10.2 68.4 34.7 55.5 53.8 82.7 72.3 65.5 5.6 1.0 7.1 11.1 9.6 1.6 5.4 Fed Funds Other Other Prime Other Fed Funds Fed Funds 6,105,104 1,194,633 1,657,564 778,082 1,834,235 417,383 223,207 95 22 189 681 1,898 6,348 19,525 163 161 164 133 173 175 182 6.67 7.48 6.90 7.00 6.27 5.13 5.52 0.17 0.08 0.06 0.18 0.22 0.62 0.40 74.3 84.1 76.8 82.5 68.6 31.6 100.0 84.4 80.2 86.7 91.4 88.1 69.3 64.2 6.5 1.8 8.6 8.0 6.4 12.8 0.0 Prime Prime Prime Prime Prime Prime Prime 2,488,748 110 46 6.86 0.18 77.9 64.3 3.8 Prime 1,047,133 187,930 153,982 37,111 668,110 92 18 164 630 4,019 48 36 51 59 50 6.92 8.96 8.22 6.80 6.06 0.30 0.05 0.24 0.78 0.53 77.7 93.6 96.8 75.8 69.0 56.1 19.2 27.0 43.1 74.0 0.7 0.0 2.9 7.6 0.0 Other Other Prime Other Other 1,441,614 202,084 401,337 218,270 619,924 129 24 187 651 3,224 45 44 42 85 33 6.82 8.32 7.49 7.21 5.75 0.20 0.16 0.20 0.25 0.31 78.1 88.9 74.5 90.0 72.6 70.2 49.2 61.1 67.1 84.0 6.0 1.4 5.0 2.5 9.4 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 + I Loans made below prime 10 Days Prime Rate 9 Nominal 8 37 Overnight6 1,629,294 6,454 -- 3.67 3.64 1.6 70.9 0.0 6.00 One month and under 38 (excluding overnight) 1,429,331 1,645 20 3.90 3.88 14.2 68.0 14.3 6.01 151 4.47 4.43 35.2 83.5 1.6 6.24 4.17 4.17 20.3 61.0 10.0 6.02 4.05 3.92 4.68 4.03 3.90 4.64 17.6 12.4 43.1 70.7 70.9 69.4 6.4 IS 6.07 6.03 6.24 4.85 4.54 5.22 4.81 4.51 5.17 58.0 45.0 74.1 70.1 66.0 75.1 0.8 0.7 0.8 6.45 6.27 6.69 Over one month and 39 under one year 1,510,036 246 40 Demand 7 1,639,129 1,419 41 Total under one year 42 Fixed rate 43 Floating rate 6,207,789 5,159,938 1,047,851 737 1,207 253 - 57 41 144 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 683,735 378,582 305,153 251 267 235 49 46 53 ' 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.
@FedFRASER