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FEDERAL RESERV&odmtietical release - = RESEARCH LIBRARY FEDERAL RESERVE BANK OF PHILADELPHIA 10 INDEPENDENCE MALL PHILADELPHIA, PA 19105-0066 FOR I M M E D I A T E R E L E A S E M A R C H 29, 1989 E.2 S U R V E Y OF T E R M S OF BANK L E N D I N G M A D E D U R I N G F E B R U A R Y 6 - 1 0 , 1989 1/ TABLE 1 ! I 1 LOAN C H A R A C T E R I S T I C S ! | AMOUNT OF^LOANS ! | ! | ^REAGE B H S T A N D A R D ! ($1, 000)1 M A T U R I T Y | E F F E C T I V E 1 ERROR 2/ 1 1 DAYS MOST 1 COMMON 1 BASE 1 PRICINGI RATE 1 [COMMITMENT!PARTICIPATION 1 | LOAN R A T E (PEJ(CENT) | v ! ! "I QUARTILE RANGE 5/ P E R C E N T A G E OF A M O U N T OF L O A N S M A D E U N D E R : 1 6/ ! ! I 1. ALL C 8 I LOANS 9.84-10.47 66 .3 11.9 0.12 0.06 0.23 10.02-10.80 10.03-10.72 9.89-11.06 79.0 73.2 90.9 6.9 7.9 4.8 DOMESTIC DOMESTIC DOMESTIC 11.35 10.82 0.17 0.18 0.17 10.26-12.13 10.25-11.20 10.92-12.68 76.5 75.0 77.7 10.4 12.0 9.0 PRIME FOREIGN PRIME 11.43 10.31 11.62 0.12 0.11 0.15 10.33-12.28 9.77-10.76 10.79-12.55 83.5 85.5 83.2 7.9 11.4 7.3 PRIME DOMESTIC PRIME 10.97 0.11 10.06-11.57 77.0 9.3 PRIME 9.91-10.69 11.91-13.51 11.31-13.11 11.48-12.84 11.02-12.75 10.42-11.53 9.90-10.63 71.3 17.4 25.2 29.8 43.0 78.4 73.0 11.1 0.1 2.4 FED FUNDS OTHER OTHER PRIME PRIME OTHER FED FUNDS 10.22 11,348,937 6,093 ONE MONTH A N D UNDER (EXCL O V E R N I G H T ) -FIXED RATE -FLOATING RATE 6,622,320 4,433,544 2,188,775 818 856 750 17 18 15 10.62 10.55 10.78 OVER ONE M O N T H A N D UNDER A Y E A R -FIXED RATE -FLOATING RATE 7,931,990 3,685,518 4,246,472 125 123 127 128 97 155 DEMAND 8/ -FIXED RATE -FLOATING RATE 17,046,234 2,436,134 14,610,099 262 TOTAL UNDER ONE Y E A R -FIXED RATE BY SIZE ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 10 0- 49 9 500-999 1000+ -FLOATING RATE BY S I Z E ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500-999 1000+ 42,949,480 310 OVERNIGHT 7/ TOTAL ONE YEAR A N D OVER -FIXED RATE BY SIZE ( $ 1 , 0 0 0 ) 1-99 100-499 500-999 1000+ -FLOATING RATE BY SIZE ( $ 1 , 0 0 0 ) 1-99 100-499 500-999 1000+ 471 244 44 520 21,903,556 232,303 121,431 150,659 431,176 326,061 20,641,926 33 67 179 659 7,841 21,045,924 456,404 533,302 896,265 3,141,843 1,366,466 14,651,644 219 10 34 66 199 648 5,700 8 23 115 123 115 99 49 19 10.40 12.63 12.06 12.10 11.83 11.06 10.31 0.10 108 154 150 159 135 133 93 MONTHS 11.57 12.72 12.50 12.40 12.14 0.14 0.10 0.09 0.07 0.07 0.08 0.15 10.59-12.55 12.03-13.31 11.85-13.24 11.63-13.10 11.46-12.68 11.07-12.47 10.26-12.13 82.9 72.8 79.2 83.3 86.6 89.6 81.9 7.4 0.9 2.3 3.5 5.4 9.5 8.2 PRIME PRIME PRIME PRIME PRIME PRIME PRIME 0.18 10.84-12.68 66.4 4.6 PRIME 5.3 0.3 3.5 31.9 3.6 OTHER OTHER OTHER PRIME OTHER PRIME PRIME PRIME PRIME PRIME | 2,359,209 11.81 53 149 0.08 11.81 11.30 1.0 5.9 10.5 11.4 I ' 11 .71 592,066 88,412 46,336 46,548 410,768 85 14 201 567 3,435 54 35 74 58 55 11.67 14.08 12.59 11.56 11.06 0.21 0.49 72 27 21 10.66-12.13 11.85-13.88 11.02-12.68 11.02-12.13 10.58-11.46 61 . 1,767,144 183,170 408,495 143,684 1,031,795 199 29 203 669 3,405 52 43 71 47 48 11.72 12.66 12.27 12.07 11.29 19 13 14 16 0.19 10.85-12.68 12.01-13.24 11 .57-12.75 11.30-12.68 10.24-12.19 68.0 29.7 49.2 73.7 81.5 4.4 0.5 4.9 12.2 3.9 ! DAYS I LOAN R A T E ( P E R C E N T ) |EFFECTIVE ! 3/ 1| NOMINAL I 9/ 1 ! I I 1 1 PRIME RATE 10/ 15 30 49 76 1 1 1 2. L O A N S M A D E BELOW P R I M E 11/ 10, 516, 949 8, 348 X 10. 13 9. 65 10. 57 64. 3 13. 6 ONE M O N T H A N D UNDER (EXCL O V E R N I G H T ) 5, 228, 801 3, 434 15 10. 23 9. 75 10 .59 78. 2 5. 8 OVER ONE M O N T H A N D UNDER A YEAR 3, 733, 719 658 112 10. 32 9. 91 10. 6 2 88. 0 13. 0 8/ 6J ,137, 830 1, 7 9 5 X 10. 16 9 .74 10.,62 67 .7 5..9 DEMAND TOTAL UNDER O N E Y E A R -FIXED RATE -FLOATING RATE 25 ,617,,299 18 ,893 ,635 6 ,723,,665 2,,157 2 ,194 2 ,059 26 19 73 10. 18 10. 17 10. 22 9 .73 9 .71 9 .77 10 .59 10 .58 10 .61 71.,4 70 .7 7 3 .3 10 .1 12 .6 3 .1 850 ,274 248 ,620 601 ,653 623 310 1 ,068 10 .49 10 .50 10 .48 10 .04 10 .09 10 .02 10 .74 10 .61 10 .80 84 .6 6 2 .9 93 .5 OVERNIGHT 7/ TOTAL O N E YEAR A N D OVER -FIXED RATE -FLOATING RATE — SEE LAST P A G E FOR FOOTNOTES FED FUNDS 1 MONTHS 49 52 48 1 4 .3 3. 3 4 .7 S U R V E Y OF T E R M S OF B A N K TABLE 2 COMMERCIAL LENDING MADE DURING FEBRUARY 6-10, AND INDUSTRIAL LOANS 1989 ( O T H E R T H A N C O N S T R U C T I O N A N D L A N D D E V E L O P M E N T ) M A D E BY L A R G E B A N K S I LOAN C H A R A C T E R I S T I C S AMOUNT OF L O A N S ($1,000) I LOAN RATE (PERCENT) A V E R A G E |WEIGHTED) WEIGHTED I SIZE I AVERAGE| AVERAGE |STANDARD| ( $ 1 , 0 0 0 ) ( M A T U R I T Y ! E F F E C T I V E ! ERROR \ I 2/| 3/1 4/I -I-DAYH 1. ALL OVERNIGHT 7/ ' J I. C & I LOANS INTERQUARTILE RANGE 5/ 1/ I P E R C E N T A G E OF A M O U N T | M O S T J OF L O A N S M A D E U N D E R : |COMMON I , I BASE I I |PRICING I COMMITMENT|PARTICIPATION! RATE J .! !_!L! 8 ,125 ,311 7 ,786 X 10 .27 0 .11 9 .84-10 .63 ONE MONTH A N D UNDER (EXCL O V E R N I G H T ) -FIXED RATE -FLOATING RATE 4 ,937 ,231 3 , 1 5 2 ,857 1 ,784 ,374 3 ,401 3 ,758 2 ,912 17 18 15 10 .55 10 .51 10 .61 0 .18 0 .08 0 .38 10 .02-10 .71 10 .06-10 .70 9 .74-10 .72 82.6 6.8 DOMESTIC DOMESTIC DOMESTIC OVER ONE MONTH A N D UNDER A YEAR -FIXED RATE -FLOATING RATE 5 ,042 ,561 2 ,501 ,752 2 ,540 ,808 806 1 ,336 580 121 89 153 11 .05 10 .52 11 .57 0 .19 0 .23 0 .17 10 .26-11 .64 10 .06-10 .88 10 . 6 1 - 1 2 .68 81.7 85.2 78.1 13.9 11.9 PRIME FOREIGN PRIME DEMAND 8/ -FIXED RATE -FLOATING RATE 11 ,438 ,928 1 ,468 ,860 9 ,970 ,069 665 2 ,918 597 X X X 11 .33 10 .33 11 .48 0 .22 0 .14 0 .26 10 . 2 7 - 1 2 .13 9 .86-10 .81 10 .32-12 .40 79.3 84.7 78.5 8.1 6.8 TOTAL U N D E R O N E Y E A R -FIXED RATE BY S I Z E ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500-999 1000+ -FLOATING RATE BY S I Z E ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500-999 1000 + 29 ,544,,030 1,,138 39 10 .86 0 .15 10 .04-11 .30 75.4 10.8 PRIME 15 j,248;,780 9,,671 11,,792 22/ 8 4 2 121, 530 159, 8 4 8 14, 923, 097 3,,580 10 33 64 209 681 8, 6 2 0 21 87 77 73 57 33 20 10 .36 12 .38 12 .11 11 78 11.,50 11. 06 10. 34 0 .08 0 .10 0. 12 0. 10 0 .28 0. 15 0. 08 9 .94-10 .71 11 .85-13,.12 11,.57-12,.75 11. 0 7 - 1 2 . 40 10. 9 5 - 1 2 . 08 10. 4 2 - 1 1 . 6 3 9. 9 3 - 1 0 . 66 70.8 14.0 1.0 FED FUNDS PRIME PRIME PRIME PRIME NONE FED F U N D S 14, 2 9 5 , 251 79, 109 116, 5 3 3 230, 917 1, 094, 388 6 3 3 , 024 12, 141, 280 659 11 34 66 209 651 7, 469 96 144 139 148 151 144 90 11. 39 12. 6 3 12. 44 12. 31 11. 98 11. 80 11. 28 0. 2 3 0. 19 0. 17 0. 13 0. 09 0. 11 0. 2 5 10. 2 7 - 1 2 . 28 11. 6 3 - 1 3 . 2 4 11. 5 7 - 1 3 . 2 4 11. 5 7 - 1 2 . 96 11. 2 7 - 1 2 . 68 11. 0 2 - 1 2 . 40 10. 2 0 - 1 2 . 19 90.5 79.2 7.8 7.5 PRIME PRIME PRIME PRIME PRIME PRIME PRIME 1, 151, 558 565 47 J11. 16 0. 23 10. 2 4 - 1 1 . 7 3 88.5 4.0 PRIME 222, 008 6, 926 9, 373 2, 364 203, 344 549 23 202 552 3, 548 35 49 60 30 33 10. 81 12. 12 11. 05 10. 69 10. 76 0. 21 0. 50 0. 81 0. 77 0. 35 10. 5 2 - 1 1 . 19 11. 5 9 - 1 3 . 88 11. 0 2 - 1 2 . 40 10. 0 2 - 1 1 . 57 10. 4 7 - 1 1 . 19 87.0 30.0 66 . 6 929, 551 27, 7 9 5 114, 204 95, 346 6 9 2 , 206 569 33 239 673 4, 2 3 2 50 39 42 54 51 11. 24 12. 90 12. 19 11. 96 10. 9 2 0. 30 0. 26 0. 22 0. 18 0. 29 10. 2 4 - 1 1 . 99 11 .8 5 - 1 3 . 80 11 .3 0 - 1 2 . 68 11. 2 5 - 1 2 . 68 10. 1 0 - 1 1 . 49 TOTAL ONE Y E A R A N D OVER -FIXED RATE BY S I Z E ( $ 1 , 0 0 0 ) 1-99 100-499 500-999 1000 + -FLOATING RATE BY S I Z E ( $ 1 , 0 0 0 ) 1-99 100-499 500-999 1000 + | MONTHS DAYS ! 2. L O A N S M A D E B E L O W P R I M E 11/ I LOAN1 R A T E ( P E R C E N T ) I I E F F E C T I V E 1I N O M I N A L 1 9/ 3/ 1 ! ! I | 1 PRIME RATE 10/ 16.5 76.7 93.0 22.6 29.7 51.4 66 .0 79.7 70.8 80.2 76.5 78.6 80.8 86.1 8.9 3.2 16.0 7.0 2.1 3.6 1.1 8.2 14.2 7.3 0.5 1.1 2.3 6.0 89.7 0. 0. 10. 0. 0. 88.9 63.0 76.5 85.1 92.5 4.8 0.2 9.8 11.9 3.2 100.0 1 1 | 7,,298,,472 8,,960 X 10. 15 9.66 10.55 58 .1 17,,2 ONE M O N T H A N D U N D E R (EXCL O V E R N I G H T ) 4,, 049, ,127 6, 936 15 10. 21 9.74 10.58 80,.4 6 .4 OVER O N E M O N T H A N D UNDER A YEAR 2,,928,,734 5,,446 107 10. 25 9.84 10.5 S 89 .6 14,.1 DEMAND 4,,877,,556 5,,506 X 10. 19 9.75 10.61 61 .3 4 .5 19,,153,,889 13,,193,,868 5,,960,,021 6,,787 6,,895 6,,560 27 19 68 10. 19 10. 18 10. 20 9.73 9.72 9.75 10.57 10.57 10.57 68 .4 67 .7 70 .1 11,.2 15 .2 2 .6 612,,881 134,,963 477,,918 2,,744 1 ,,610 3,,425 10. 37 10. 37 10. 38 9.95 10.02 9.94 10.66 10.61 10.63 97,.8 91 .2 99 .6 2,.1 0..5 2 .6 OVERNIGHT 7/ 8/ TOTAL U N D E R O N E Y E A R -FIXED RATE -FLOATING RATE TOTAL O N E Y E A R A N D O V E R -FIXED RATE -FLOATING RATE SEE LAST P A G E FOR FOOTNOTES 1 MONTHS 47 30 52 1 f I I I I FED FUNDS PRIME DOMESTIC PRIME OTHER NONE OTHER FED FUNDS OTHER PRIME PRIME PRIME PRIME PRIME S U R V E Y OF T E R M S OF TABLE 3 COMMERCIAL BANK LENDING MADE DURING AND INDUSTRIAL LOANS (OTHER THAN FEBRUARY 6-10, CONSTRUCTION 1 AMOUNT OF L O A N S LOAN C H A R A C T E R I S T I C S ($1,000) LAND D E V E L O P M E N T ) M A D E BY I LOAN RATE AVERAGE |WEIGHTED I WEIGHTED I T SIZE | A V E R A G E ! A V E R A G E ISTANDARDI ($1,000)I MATURITY|EFFECTIVE I ERROR I I 2/| 3/1 4/I DAYS 1 j OTHER BANKS. (PERCENT) 1 INTERQUARTILE RANGE 5/ 1/ P E R C E N T A G E OF A M O U N T | MOST T OF L O A N S M A D E u N u E R : I COMMON I , I BASE I I I PRICING I I COMMITMENT I PARTICIPATION I RATE I .! ~ !„ 6/1 C & I LOANS OVERNIGHT 7/ 3,223,626 3,937 ONE MONTH AND UNDER (EXCL O V E R N I G H T ) -FIXED RATE -FLOATING RATE 1 ,685,,089 1;, 280,,687 404,,402 254 295 176 OVER ONE MONTH A N D UNDER A YEAR -FIXED RATE -FLOATING RATE 2j,889,,429 ,766 1,, 183, 1,,705,.663 DEMAND 8/ -FIXED RATE -FLOATING RATE 5 ,,607,,305 9 6 7 ,,274 4,,640,,031 TOTAL UNDER ONE YEAR -FIXED RATE BY S I Z E ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500-999 1000 + -FLOATING RATE BY S I Z E ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500-999 1000+ 13 .405,,450 10.09 0.45 9.77-10.24 78.4 17 16 19 10 .84 10 .63 11 .51 0.,13 0.,08 0..23 10.09-11.07 9.96-10.80 10.22-12.68 68.6 81.6 51 42 59 141 115 158 11 .88 11 .46 1 2 .16 0.,20 0..16 0..26 10.92-12.68 10.54-12.69 11.46-12.68 117 207 107 * X * 11 . .63 10..27 11 .91 . 0. 07 0. 17 0. 10 11.02-12.55 9.75-10.38 11.07-12.68 TOTAL ONE YEAR A N D OVER -FIXED RATE BY S I Z E ( $ 1 , 0 0 0 ) 1-99 100-499 500-999 1000 + -FLOATING RATE BY S I Z E ( $ 1 , 0 0 0 ) 1-99 100-499 500-999 1000 + OVERNIGHT PRIME 12.0 7.0 5.4 OTHER FED FUNDS PRIME 67.4 53.4 77.1 4.4 3.8 4.8 PRIME OTHER PRIME 92.2 86.7 93.4 9.7 16.5 8.3 64.5 56 11 .21 0 .13 10 . 0 9 - 1 2 .13 8 0 .6 6.0 PRIME 10 ,47 12 .64 12 .06 12,.15 11. 96 11 , .05 10. 21 0 .17 0 .11 0 .29 0 .12 0, 26 0 .18 0 .06 9 . 8 9 - 1 0 .68 11 . 9 1 - 1 3 .52 11 . 3 1 - 1 3 .17 11 . 8 3 - 1 2 .84 11 . .07-12.,75 10 .42-11 .13 9..85-10,.45 7 2 .5 17 .1 2 4 .7 25..9 34. 0 77 , .3 78..6 4.3 0.1 2.4 FED FUNDS OTHER OTHER PRIME PRIME OTHER FED FUNDS 6,,750,,674 377,,295 416,,769 665,348 2,, 0 4 7 , 4 5 5 7 3 3 ,,442 2,,510,,364 91 10 33 66 194 646 2,,657 131 155 152 161 130 127 110 11 .95 12 .74 12..51 12.,44 12. 2 3 11 .8 2 11. 4 3 0,.06 0 .07 0 .07 0 .06 0., 09 0. 12 0..20 11 .07-12,.68 1 2 .13-13,.31 11,.85-13,.24 11..85-13,.10 11. 5 7 - 1 2 ..68 11. 0 7 - 1 2 . 5 5 11. 0 2 - 1 2 . 1 3 8 8 .6 7 2 .0 79..4 84..2 .9 86 . 8 8 .9 94. 9 MONTHS 0.6 7.8 12.8 4.2 7.6 1.0 11.5 PRIME PRIME PRIME PRIME PRIME PRIME PRIME 2.6 3.9 5.1 11.1 j 1,,207,,651 87 58 ~ 12. 2 4 0..13 11,,50-12.,79 45.,3 5.3 PRIME 37 0,,058 81,486 36,96 3 44,,185 207,424 56 13 201 567 3,,331 65 34 77 59 76 12,.18 14 .24 12 .98 .61 11 , 11 .35 0..24 0,.76 1 .20 0..24 0 .25 10,.99-12..55 11..85-13. 8 8 11..30-12,.75 11.,02-12. 13 10..97-11..85 46 . .2 14..0 21 . .1 47 .2 63. 1 8.3 0.3 1.9 33.6 7.2 OTHER OTHER OTHER PRIME PRIME 837,,593 155 ,375 2 9 4 ,292 48 ,338 3 3 9 ,588 115 28 192 661 2,,435 55 43 82 32 41 12 12 12 12 12 0 0 0 0 0 11,.63-12..82 1 2 .01-13,.24 11 .85-12,,75 11 .57-13..24 11,.57-12..82 44..9 23,.7 38. 7 .0 51 , 59. 1 4.0 0.5 2.9 12.7 5.2 PRIME PRIME PRIME PRIME PRIME DAYS .26 .62 .29 .29 .06 .12 .06 .17 .29 .16 1 LOAN1 R A T E ( P E R C E N T ) | 1 E F F E C T I V E 1I N O M I N A L ! 9/ 3 / ! !1 | | 1 PRIME RATE 10/ | | | 7 ,230 X 10. 08 9 .61 10 .60 78..4 5 .4 1,,179,,674 1 ,257 15 1 0 . 27 9 .80 10 .63 7 0 .6 3 .6 8 0 4 ,,985 157 129 10. 59 10 .17 10 .97 8 2 .2 9 .0 8/ 1,,260,,275 498 X 10. 05 9 .66 10 .65 9 2 .2 11 .5 TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE 6,, 4 6 3 , 4 1 1 5,, 6 9 9 , 7 6 7 763,644 714 851 324 24 18 111 10. 17 10. 15 10. 38 9 .72 9 .70 9 .93 10 .66 10 .62 10 .94 8 0 .1 77 .8 97 .9 6 ,7 , 6 .7 , 7 .1 , 237,,393 113,,657 123,,736 208 158 292 10. 77 10. 66 10. 8 8 10 .27 10,.18 10 .36 10 .95 10 .61 11 .27 50..5 29,.3 69,.9 9 .8 , .6 12 .8 OVER ONE MONTH A N D UNDER A YEAR DEMAND TOTAL ONE YEAR AND OVER -FIXED RATE -FLOATING RATE SEE L A S T PAGE FOR FOOTNOTES PRIME DOMESTIC PRIME 28 116 128 123 116 66 15 3,,218,,477 ONE MONTH AND UNDER (EXCL O V E R N I G H T ) FUNDS 119 11/ 7/ FED 176 8 33 67 169 638 6,,345 ! LOANS MADE BELOW „ 0.4 6,,654,,776 222,,633 109,,639 127,,816 309,, 6 4 6 166,,213 5,,718,,829 j 2. AND I "j 1. ALL 1989 1 MONTHS 56 79 35 ! SURVEY OF TERMS OF BANK LENDING M A D E DURING FEBRUARY 6-10, 1989 TABLE 4 CONSTRUCTION A N D LAND DEVELOPMENT LOANS (SECURED AND UNSECURED BY REAL ESTATE) LOAN RATE (PERCENT) AMOUNT 1 AVERAGE | I AVERAGE I 1 WEIGHTED | OF LOANS | 1 SIZE I 1 MATURITY I 1 A V E R A G E I STANDARD I I ($1,000) | I (MONTHS) | 1 EFFECTIVE I ERROR | 4/ | 2/ LOAN C H A R A C T E R I S T I C S !! 1. ALL BANKS 1/ FIXED RATE BY SIZE ($1,000) 1-24 25-49 50-99 100-499 500+ FLOATING RATE BY SIZE ($1,000) 1-24 25-49 50-99 100-499 500+ BY TYPE OF CONSTRUCTION SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL 2. LARGE BANKS 1/ FIXED RATE BY SIZE ($1,000) 1-24 25-49 50-99 100-499 500+ FLOATING RATE BY SIZE ($1,000) 1-24 25-49 50-99 100-499 500 + BY TYPE OF CONSTRUCTION SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL OTHER BANKS 1/ 3/ 1! ! INTERQUARTILE RANGE 5/ PERCENTAGE OF AMOUNT OF LOANS MADE UNDER: | | | COMMITMENT jPARTICIPATION| | 1,906,640 112 12 12.09 0.10 11.57-12.68 90.0 8.9 511,,482 19,,359 19,,115 29,,387 42,,193 401,,429 141 8 39 55 189 4,,395 6 8 13 7 26 3 11 12 11 11 11 11 .41 .10 .34 .95 .95 .29 0 .20 0 .19 0 .30 0 .16 0 .37 0 .24 11.15-11.83 11 .63-12.75 10.38-12.75 11 .83-12.37 11.57-12.40 11.15-11.53 87.1 80.6 95.7 64.0 90.1 15.8 0.8 0.9 0.0 24.1 17.5 1,395,,158 77,,539 73;,358 97,,351 292,,951 853 j,960 104 10 35 67 211 1,,597 15 7 11 12 17 16 12 12 12 12 12 12 .34 .81 .75 .59 .49 .18 0 0 0 0 0 0 12.13-12.68 12.13-13.31 12.13-13.31 12.13-13.10 12.13-12.75 11.86-12.68 91.1 93.8 88.0 84.6 91.1 91.8 6.3 1.5 1.6 4.0 5.6 7.7 437,,431 185,,969 1,283,,240 38 204 275 13 15 11 12 .43 12 .45 11 .92 0 .15 0 .10 0 .13 12.13-13.10 12.13-12.96 11.44-12.55 84.2 88.7 92.2 9.5 5.6 9.1 842,,555 447 9 11 .88 0 .17 11.43-12.55 90.4 10.0 323,,588 549 614 1, 403 3, 391 317, 631 1,,833 9 30 66 189 5, 672 2 7 2 18 21 2 11 .46 11 .84 11 .56 11 .44 .22 11 , 11..46 0..30 0. 15 0. 43 0. 25 0. 74 0. 38 11.23-11.53 11 .57-12.19 11.30-12.13 11.02-12.01 11.02-11.89 11.23-11.53 88.5 65.2 93.2 59.0 80.7 88.7 14.2 518, 967 5, 459 9,,286 17, 281 93, 085 393, 856 304 10 36 70 223 1, 692 16 12 14 17 17 16 12 .15 12,.69 12 .49 12,.44 12 .47 12,.05 0. 12 0. 14 0. 13 0. 11 0. 13 0. 14 11.85-12.68 12.13-13.24 12.09-12.96 12.13-12.69 12.13-12.96 11.57-12.68 91.7 90.8 96.7 90.0 95.8 90.7 7.4 2.4 3.4 1.7 5.6 82, 129 47, 514 712, 912 106 257 769 20 13 8 12.47 12.13 11.80 0.16 0.19 0.21 12..13-12. 68 11..57-12. 69 11,.23-12..40 80.4 72.8 92.8 2.5 0.3 11.5 1,064, 086 70 14 12.26 0.11 11.91-12..68 89.7 7.9 .08 . 09 .10 .08 .09 .10 68.8 0. 0 0.0 0.0 0.0 14.5 8.2 FIXED RATE BY SIZE ($1,000) 1-24 25-49 50-99 100-499 500+ FLOATING RATE BY SIZE ($1,000) 1-24 25-49 50-99 100-499 500+ 187,.894 18, 810 18, 501 27, 984 38, 802 * 54 8 39 55 190 X 13 8 13 7 27 X 11.33 12.11 11 .33 11.97 12.01 X 0.28 0.34 0.44 0.23 0.21 X 10 11 9 11 11 61-12 .63-12 .92-13 .83-12 .85-12 .13 .75 .01 .37 .40 X 84.9 81.0 68.0 97.5 62.5 X 18.4 0.8 0.9 0.0 26.2 X 876,,191 72,,080 64,,072 80,,069 199,,866 460,,105 75 10 35 66 206 1,524 15 7 11 10 17 17 12.45 12.82 12.79 12.62 12.50 12.30 0.08 0.12 0.12 0.11 0.12 0.16 12 12 12 12 12 12 .13-12 13-13 .13-13 .13-13 .13-12 13-12 .70 .31 .31 .12 .75 .68 90.7 94.0 86.7 83.4 88.9 92.8 5.7 1.4 1.4 4.5 5.6 7.2 BY TYPE OF CONSTRUCTION SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL 355,,302 138 ,456 570,328 33 191 152 11 16 17 12.42 12.56 12.08 0.28 0.08 0.18 12 .01-13 .24 12 .13-12.96 11.63-12.68 85.1 94.1 91.4 11.1 7.4 6.1 NOTE: 75.3 PERCENT OF CONSTRUCTION AND LAND DEVELOPMENT LOANS WERE PRICED RELATIVE TO THE PRIME RATE SEE LAST PAGE FOR FOOTNOTES * FEWER THAN 10 SAMPLE LOANS. Table 5 LOANS TO FARMERS Weighted average interest rate (%) 3 Standard error 4 Interquartile range 5 By purpose of loan: Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other Percentage of amount of loans: With floating rates Made under commitment By purpose of loan: Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other LARGE BANKS 1 ' Amount of loans (thousands) Number of loans Weighted average maturity (months) 2 Weighted average interest rate (%) 3 Standard error 4 Interquartile range 5 By purpose of loan: Feeder livestock Other livestock t Other current operating expenses Farm machinery and equipment Farm real estate Other Percentage of amount of loans: With floating rates Made under commitment By purpose of loan: Feeder livestock Other livestock Other current operating, expenses Farm machinery and eqwmpmemt Farm real estate Other i ALL BANKS Amount of loans (thousands) Number of loans Weighted average maturity (months) 2 $1-9 l all sizes 1 % Size c $290 «nd over $*00-348 $60-88 $25-46 910-24; $902,752 40,353 14.6 £94,008 26,199 8. 4 $112,399 7,461 11.4 $106,112 3,259 15.0 $12 1 , 8 0 0 1,804 29.1 $175,163 1,203 14.9 $293,270 427 S.4 12.28 .44 11.68-12.75 12.49 .19 11.89-13.00 12.28 .22 11.83-12.76 12.48 .64 11.83-13.10 12.33 .77 11.58-13.24 1 2 . 18 .28 11.68-12.65 12.18 .59 1 1 . 5 4 - 1 2 . 55 12.20 1 2 . 19 12.42 12.39 12.18 11.94 12.83 12.68 12.37 12.68 12.01 12.57 12.03 12.69 12.31 12.21 11.49 12.59 12.53 12.21 11.93 1 2 . 27 11.89 11.56 12. 43 11.74 OD.O 62.7 47. 4 41.9 52.6 41.4 62.8 47.4 62.7 47.7 77.7 72.3 71.3 83.5 25.0 6.7 47.2 5.1 4. 3 11.7 11.9 b. 9 59. o 11.5 2» 5 7. b 7.8 4.2 €5.5 11.2 13.3 12.5 38. 7 37. 1 58.o 7.4 54. 6 7.8 6.8 14.2 8.3 17, 1 $348,155 4,344 7.9 $7,539 1,876 8.7 $13,073 920 9.2 $17,009 505 8.9 $29,219 4 3J 10.9 $60,241 391 11.0 *221,074 219 5.5 1 2 . 1b .40 11.57-12.55 12.87 12.22-13.31 12.70 . 16 12.10-13.24 12.55 .60 1 2 . 0 1 - 1 3 . 16 12.29 .56 1 1 . 9 1 - 1 2 . 75 12.31 .06 11.63-12.75 12.02 .28 1 1 . 4 6 - 1 2 . 55 12.20 11. 87 12.20 12. 92 13.19 11.97 12.57 12.71 12.88 12.86 13.23 12.91 12.53 13.22 12.66 12.98 12.43 12.0o 12.02 12.23 12.74 12.42 12.34 12.47 11.59 89.0 80.3 88. 6 77.3 92.0 78.2 94. / 84.4 97. J 91.U 98.8 94.6 84.6 £4.4 Jo. 4 8.4 jz.Y 1.1 2.7 18.6 b. 0 3.6 to 5 . 9 5. 1 2.4 17.0 6.8 4.3 6b.4 4.3 12.6 20.3 33.7 .11 * * * 12.57 12.87 * * * 12.6 1 * * * 52. 4 12. 59 * * $ * * * 12.36 * * * 45.4i * * * * 12. 42 * * * 39.2 * 12. J2 * * * 33.8 * * * 12.38 * * * 3*.6 * * 15.1 27.8 24. 1 21. 1 * 11.91 * * 43.9 * 25.9 * * 16.8 1 OTHER BANKS */ Amount of loans (thousands) Number of loans Weighted average maturity (months) 2 Weighted average interest rate (%) 3 Standard error 4 Interquartile range 5 By purpose of loan: Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other Percentage of amount of toans: With floating rates Made under coiwrnitmemt By purpose ©f loan: Feeder Nwestock Other livestock Other cwirent operating expenses Farm imacJtrifiefy and equipment Farm, real estate Other See last page for notes to tables •Fewer than 10 sample loans $ 5 5 4 , .>97 3o,009 16.9 £8o,4b 9 24, J24 8. 4 $99,326 6,541 11.7 $89,102 2,754 15.9 $92,581 1,371 33.1 $114,922 811 16.3 * 12.35 . 16 11.68—1z.90 12.45 .15 1 1 . ti4-12.90 12.23 . 14 11.82-12.75 12.47 12. 3 4 .50 11.58-13.24 12.11 .26 11.68-12.65 * * * 12.20 1 ^ . 49 12.50 12.34 11.85 1 1 . 90 12.84 12.68 12.32 12.67 11.97 12.50 12.54 50.9 47. 8 43. 8 38.8 47.5 36.6 17.8 5.7 5o. 3 7.6 J. 4 7.3 12.4 7. 1 59.0 12. 1 7.9 * * 12.26 12.18 * * 65.4 12.1 * * 6. 8 6.9 1 1 . 8 3 - 1 3 . 10 * * 12.56 * * 56.7 40.3 * * 59.8 * * * * * 12.<o4 * * * 51. 8 34.0 .# * 57. 4 * * * * * * * * 66.6 60.5 * * * * * * * * * * * * * * * * * * * * * * 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. A subsample of 250 banks also report loans to farmers. The sample data are blown up to estimate the lending terms at all insured commercial banks during that week. 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. Construction and land development loans include both unsecured loans and loans secured by real estate. Thus, some of the construction and land development loans would be reported on the statement of condition as real estate loans and the remainder as business loans. Mortgage loans, purchased loans, foreign loans, and loans of less than $1,000 are excluded from the survey. 1. As of December 31, 1987, assets of most of the large banks were at least $ 6 billion. For all insured banks, total assets averaged $ 220 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 loan and weighted by loan size. 4. The chances are about 2 out of 3 that the average rate shown would differ by less than this amount from the average rate that would be found by a complete survev y of lending at all banks. 5 The interquartile range shows the interest rate range that encompasses the middle fifty percent of the total dollar amount of loans made. - 6. The most common base rate is that rate used to price the largest dollar volume of loans. Base pricing rates include the prime rate (sometimes referred ^ as a red to bank's "basic" or "reference" rate); the federal funds rate; domestic money market rates other than the federal funds rate; foreign money market rates; and other base rates not included in the foregoing classifications, 7. Overnight loans mature on the business day after they are made. 8. Demand loans have no stated date of maturity. 9. Nominal (not compounded) annual interest rates are calculated from survey data on the stated rate and other terms of the loan and weighted by loan size. 10- Th 5 ? r i m e r a t e reported by each bank is weighted by the volume of loans extended and "then averaged. 11. The proportion of loans made at rates below prime may vary substantially from the proportion of such loans outstanding in banks' portfolios. 12. Among banks reporting loans to farmers (Table 5), most "large banks" (survey strata 1 to 3) had over v 600 million in total assets, and most "other banks" (survey strata 4 to 6) had total assets below $ 600 million.
@FedFRASER