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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
|

(CENT)
LOAN R A T E (PEJ

|

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
23
115
123
115
99
49
19

33
67
179
659
7,841

21,045,924
456,404
533,302
896,265
3,141,843
1,366,466
14,651,644

10.40
12.63
12.06
12.10
11.83
11.06
10.31

0.10

108
154
150
159
135
133
93
MONTHS

520

21,903,556
232,303
121,431
150,659
431,176
326,061
20,641,926

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

219
10
34
66
199
648
5,700

8

|
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

.9
5.

DEMAND

TOTAL UNDER O N E Y E A R
-FIXED RATE
-FLOATING RATE

25 ,617,,299
18 ,893 ,635
6 ,723,,665

,157
2,
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

,138
1,

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

,580
3,
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

J 16
11.

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 EFFECTIVE 1 NOMINAL
I
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

DAYS

1

j

OTHER

BANKS.

(PERCENT)

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
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
,687
,
1; 280,
404,,402

254
295
176

OVER ONE MONTH A N D
UNDER A YEAR
-FIXED RATE
-FLOATING RATE

2j,889,,429
,
,766
1, 183,
,705,.663
1,

DEMAND
8/
-FIXED RATE
-FLOATING RATE

5,
,607,,305
967 ,
,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

OVERNIGHT

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

119

56

11 .21

0 .13

10 . 0 9 - 1 2 .13

8 0 .6

6.0

PRIME

28
116
128
123
116
66
15

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

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

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

.12
.06
.17
.29
.16

1 LOAN1 R A T E ( P E R C E N T )

|

1 EFFECTIVE 1 NOMINAL
I
!
9/
3 /
1
!
!

11/

7/

.26
.62
.29
.29
.06

|
|
1

PRIME
RATE
10/

|
|
|

3,,218,,477

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

TOTAL ONE YEAR AND OVER
-FIXED RATE
-FLOATING RATE

SEE L A S T

PAGE

FOR

FOOTNOTES




PRIME
DOMESTIC
PRIME

1,,207,,651

ONE MONTH AND UNDER
(EXCL O V E R N I G H T )

DEMAND

FUNDS

176
8
33
67
169
638
6,,345

!
PRIME

FED

6,,750,,674
377,,295
416,,769
665,348
2,, 0 4 7 , 4 5 5
7 3 3 ,,442
2,,510,,364

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 +

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 | A V E R A G E I WEIGHTED |
I
1
OF LOANS |
1
SIZE
I MATURITY I A V E R A G E I STANDARD I
1
1
I ($1,000) | (MONTHS) | EFFECTIVE I ERROR
I
1
|
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
,395
4,

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
,597
1,

15
7
11
12
17
16

12
12
12
12
12
12

.34
.81
.75
.59
.49
.18

0 .08
0 . 09
0 .10
0 .08
0 .09
0 .10

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

,833
1,
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

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 to as a
red ^
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.