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FEDERAL RESERVE statistical release
:|{E0W
E.2
For immediate release
MAY 5, 1983
SURVEY OF TERMS OF BANK LENDING MADE DURING FEBRUARY 7-11, 1983
Table 1
SHORT-TERM COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT)
Size class of loans (thousands)
$25-49
$50-99
$1,021,295
125,222
4.1
3.9
4.6
$553,106
16,919
4.2
3.2
5.8
$692,787
11,148
4.8
4.5
5.5
$1,803,408
9,316
4. 1
2.8
5.5
$797,941
1,200
3.2
1.7
4.7
$36,303,484
4,698
.6
.5
1.7
10.20
.16
9.*2-10.33
10.01
10.93
14.44
.21
13.12-15.48
14.73
13.76
13.57
.19
12.68-14.37
14.09
12.97
13.40
.28
12.47-14.37
13.79
12.84
12.71
.20
11.68-13.75
13.07
12.45
11.59
. 12
10.64-12.56
10.76
12.10
9.81
. 15
9.38- 9.96
9.72
10.27
20.6
57.3
7.6
46.6
29.5
32.2
12.0
.0
46.2
44.5
19.3
•t
41.0
39.2
13.7
. 1
56.6
46.5
21.2
.3
61.9
66.7
30.1
6.4
16.9
58.8
6.0
52.7
48 LARGE BANKS 1
Amount of loans (thousands)
Number,of toans
Weighted average maturity (months) 2
Loans with fixed rates
Loans with floating rates
$33,956,806
16,897
.7
.5
1.8
$64,553
6,395
5.2
3.0
6.2
$69,375
2,062
5.4
2.8
6.2
$122,404
1,875
6.1
2.5
6.9
$470/197
2,396
4.6
2.6
5.2
$359,280
545
3.4
1.7
4.4
$32,870,997
3,625
.6
.4
1.4
Weighted average interest rate (%) 3
Standard error 4
Interquartile ranges
Loans with fixed rates
Loans with floating rates
9.85
-01
9.41- 9.96
9.73
10.44
13.53
.06
12.59-14.28
14.26
13.23
13.03
.01
12.43-13.68
13.29
12.96
12.75
.03
12.19-13.24
12.76
12.75
12.30
.03
11.57-12.82
11.62
12,46
11.68
.05
10.88-12.59
10.71
12.11
9.77
.01
9.39- 9.96
9.71
10.11
17.3
58. 1
5.7
53.7
71.2
58.7
20.2
.1
77.1
65.0
24.3
.2
83.2
71.0
23.7
.4
80.5
67.7
31.9
1.1
69.0
70.7
29.3
6.7
15.4
57.8
4.9
55.4
OTHER BANKS
Amount of loans (thousands)
Number of loans
Weighted average maturity (months) 2
Loans with fixed rates
Loans with floating rates
$7,215,214
151,607
2.7
2.0
4.8
$956,741
118,827
4.0
3.9
4.3
$483,731
14,858
4.0
3.2
5.7
$570,383
9,274
4.6
4.6
4.6
$1,333,211
6,921
4.0
2.9
5.6
$438,661
655
3.0
1.7
5.0
$3,432,487
1.073
1.3
.6
4 1
Weighted average Interest rate (%)3
Standard error*
Interquartile range*
Loans with fixed rates
Loans with floating rates
11.83
.16
9.68-13.31
11.72
12.02
14.50
.20
13.24-15.52
14.74
13.85
13.65
.18
12.68-14.37
14.14
12.98
13.54
.27
12.55-14.37
13.85
12.89
12.86
.19
11.85-13.80
13.26
12.44
11.52
. 10
10.47-12.55
10.79
12.09
10. 19
.15
9.38-10.46
9.81
11.01
36.2
53.4
16.9
13.5
26.6
30.4
11.4
.0
41.8
41.5
18.6
.1
31.9
32.4
11.6
.1
48.2
39.1
17.5
.1
56.0
63.4
30.9
6.1
31.5
69.2
17.0
27.5
ALL BANKS 1
Amount of loans (thousands)
Number of loans
Weighted average maturity (months) 2
Loans with fixed rates
Loans with floating rates
Weighted average interest rate (%)3
Standard error <
Interquartile range 5
Loans with fixed rates
Loans with floating rates
Percentage of amount of loans:
With floating rates
Made under commitment
With no stated maturity
With one-day maturity
Percentage of amount of loans:
With floating rates
Made under commitment
With no stated maturity
With one-day maturity
Percentage of amount of loans:
With floating rate
Made under commitment
With no stated maturity
With one-day maturity
See last page for notes to tables.
all sizes
$1-24
$•1,172,020
168,504
1.0
.7
2.5
$100-499
$500-999
$1000 and over
Table 2
LONG-TERM COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT)
Size class of loans (thousands)
all sizes
$1-99
$100-499
$500-999
$1000 and over
ALL BANKS1
Amount of loans (thousands)
Number of loans
Weighted average maturity (months) 2
Loans with fixed rates
Loans with floating rates
$3,511,595
24,758
52.5
52.0
52.7
$462,857
21,881
42.2
41.3
43.2
$450,537
2,201
75.2
34.9
95.9
$144,074
218
41.2
49.3
39.5
$2,454,128
459
50.9
60.3
47.5
Weighted average interest rate (8/o)3
Standard error 4
Interquartile ranges
Loans with fixed rates
Loans with floating rates
11.81
.40
9.95-12.68
12.19
11.64
14.56
.43
12.68-16.08
15.68
13.22
13.86
.47
12.68-15.16
14.27
13.65
12.48
.22
11.57-13.03
12.09
12.56
10.88
.39
9.76-11.73
10.34
11.07
69.3
69.0
45.5
27.0
66.1
54.5
82.6
65.7
73.7
79.8
48 LARGE BANKS 1
Amount of loans (thousands)
Number of loans
Weighted average maturity (months) 2
Loans with fixed rates
Loans with floating rates
$2,268,382
2,131
53.5
62.8
50.0
$35,824
1,282
41.7
48.2
39.1
$101,907
465
48.0
43.7
48.7
$75,189
47.2
54.9
44.2
$2,055,463
272
54.2
63.8
50.4
Weighted average interest rate (%)3
Standard error 4
Interquartile range®
Loans with fixed rates
Loans with floating rates
10.86
.23
9.76-11.73
10.25
11.09
13.50
.04
12,19-14.45
14.37
13. 17
12.54
.16
11.57-13.24
12.62
12.52
11.98
.03
11.46-12.28
11.68
12. 10
10.69
.21
9.76-11.57
10.07
10.93
72.4
80.4
72.2
46.8
85.7
75.5
72.4
73.8
71.7
81.5
OTHER BANKS
Amount of loans (thousands)
Number of loans
Weighted average maturity (months)2
Loans with fixed rates
Loans with floating rates
$1,243,213
22,627
50.6
36.9
58.3
$427,033
20,598
42.2
41.0
43.8
$348,630
1,736
83.1
33.9
115.5
$68,885
34.7
22.3
35.5
$398,665
186
33.8
28.8
34.8
Weighted average interest rate (%)3
Standard error4
Interquartile ranged
Loans with fixed rates
Loans with floating rates
13.55
.32
11.85-14.93
14.89
12.79
14.65
.43
12.75-16.08
15.73
13.23
14.25
.43
13.50-15.08
14.44
14.12
13.03
.22
11.91-13.50
14.07
12.96
11.85
.33
11.46-12.33
12.76
11.68
63.8
48. 1
43.2
25.3
60.3
48.4
93.8
56.9
83.6
70.8
Percentage of amount of loans:
With floating rates
Made under commitment
Percentage of amount of loans:
With floating rates
Made under commitment
Percentage of amount of loans:
With floating rates
Made under commitment
See last page for notes to tables.
Table 3
CONSTRUCTION AND LAND DEVELOPMENT LOANS (SECURED AND UNSECURED BY REAL ESTATE)
Size class of loans (thousands)
all sizes
$1-24
$25-49
$50-99
$100-499
$500 and over
ALL BANKS1
Amount of loans (thousands)
Number of loans
Weighted average maturity (months) 2
Loans with fixed rates
Loans with floating rates
$ 1 , 8 5 9 , 351
26,699
6.2
«. 3
7.9
$131,679
16,985
4.7
4.3
6.6
$143,094
4,323
7.7
7.8
7.5
$174,067
2,764
6.8
4.3
8.1
$325,998
2,253
9.0
3.9
11.5
$1,084,513
374
5.3
3.4
6.7
Weighted average interest rate (%)3
Standard error 4
Interquartile range 5
Loans with fixed rates
Loans with floating rates
12.56
.39
10.92-13.81
12.52
12.60
14.84
.43
13.43-16.83
15.18
13.40
15.54
1.12
1 3 . 8 8 - 1 8 . 12
16.03
12.96
13-45
.32
12.55-15.02
12.66
13.85
13. 89
.43
13.24-14.75
13.52
14.06
11.35
.30
10.09-12.13
10.63
11.83
55.5
61. 1
<15. 1
100.0
20.4
5.7
73.9
3.8
2. 1
19.1
71.4
40.9
100.0
53.5
.6
45.9
10.1
.1
15.9
32.7
26.8
100.0
26.5
1.6
71.9
1.3
.0
66.3
81.3
44.1
100.0
41.4
2.0
56.6
3.6
.0
67.5
97.9
84.4
100.0
36.7
4.0
59.4
1.6
.0
59.8
49.3
36.4
100.0
7.3
8.0
84.7
4.0
3.6
$914,399
740
4.4
1.2
6.9
$2,098
193
10.0
6.1
10.5
$3,568
100
10.2
6.7
10.5
$5,531
80
11.3
5. 1
12.0
$40,071
168
15.5
11.9
15.7
$863,131
198
3.9
1.1
6.1
11.10
.07
10.09-11.63
10.51
11.54
13.34
.21
12.62-13.80
14.37
13.22
13.45
.04
12.75-13.80
14.81
13.32
12-91
.08
12.50-13.31
10.63
13.15
12.96
.09
12.40-13.31
12.78
12.97
10.99
.06
10.04-11.45
10.49
11.39
57.0
40.0
29.9
100.0
3.9
8.2
87.9
4.2
89.9
100.0
69.9
100.0
59.6
7.0
33.5
8.8
4.3
91.3
93.8
79.1
100.0
37.6
5.5
57.0
6.1
.0
90.4
100.0
76.8
100.0
30.7
8.7
60.6
7.5
.0
94.7
95.8
66.7
100.0
22.3
10.5
67.2
.0
.0
54.8
36.7
27.6
100.0
2.6
8.1
89.3
.0
4.4
$944,952
25,959
8.1
7.1
9.0
$129,582
16,792
4.6
4.3
6.3
$139,526
4,223
7.7
7.8
6.9
$168,537
2,684
6.6
4.3
7.9
$285,927
2,085
8.1
3.7
10.6
$221,382
176
12.3
23.0
8.5
13.98
.38
12.65-15.02
14.33
13.67
14.86
.37
13.43-16.83
15.18
13.42
15.60
1.12
13.88-16.12
16.03
12.90
13.47
.30
12.55-15.02
12.68
13.88
14.02
.42
13.80-14.75
13.54
14.29
12.77
.29
12.00-13.24
11.81
13.02
54.1
81.5
59,9
100.0
36.4
3.3
60.3
7.4
. 1
18.0
71.0
40.4
14.0
31.2
25.5
65.5
80.7
43.1
53.4
5
46.1
10.1
.0
26.2
1.5
72-3
1.2
41.7
1.8
56.5
3.4
.0
63.7
98.2
86.9
100.0
38.7
3. 1
58.3
1.9
.0
79.3
98.6
70.8
100.0
25.8
7.7
66.5
19.7
.6
Percentage of amount of loans:
With floating rates
Secured by real estate
Made under commitment
Made for construction
1-4 family
Muitifamily
Nonresidential
With no stated maturity
With one-day maturity
48 LARGE BANKS 1
Amount of loans (thousands)
Number of loans
Weighted average maturity (months) 2
Loans with fixed rates
Loans with floating rates
Weighted average interest rate (%)3
Standard error 4
Interquartile range 5
Loans with fixed rates
Loans with floating rates
Percentage of amount of loans:
With floating rates
Secured by real estate
Made under commitment
Made for construction
1-4 family
Muitifamily
Nonresidential
With no stated maturity
With one-day maturity
OTHER BANKS
Amount of loans (thousands)
Number of loans
Weighted average maturity (months) 2
Loans with fixed rates
Loans with floating rates
Weighted average interest rate (%)3
Standard error4
Interquartile ranges
Loans with fixed rates
Loans with floating rates
Percentage of amount of loans:
With floating rates
Secured by real estate
Made under commitment
Made for construction
1-4 family
Muitifamily
Nonresidential
With no stated maturity
With one-day maturity
See last page for notes to tables.
.0
Table 4
LOANS TO FARMERS
Six* class of loans (thousands)
all sizes
ALL BANKS
Amount of loans (thousands)
Number of loans
Weighted average maturity (months) 2
Weighted'dveraQe interest rate (%)3
Standard error 4
Interquartile ranged
By purpose of loan:
Feeder livestock
OtherJivestock
Other current operating expenses
Farm machinery and equipment
Other
Percentage of amount of loans:
With f t o e i n g rates
Made u W e r commitment
By purpose of loan:
Feeder livestock
Other livestock
Other current operating expenses
Fam$ Machinery and equipment
o t h e
fp
LARGE BANJOES
Amount d r i o a n s (thousands)
Number of loans
Weighted average maturity (months) 2
O?
Welghted^awtags interest rate (%)3
Interquartile ranged
By purpose of loan:
Feeder livestock
Other livestock
Other current operating expenses
Farm machinery and equipment
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
Other
OTHER BANKS®
Amount o f loans (thousands)
Number o f loans
Weighted average maturity (months) 2
Weighted average interest rate (%)3
Standard e r r o M
Interquartile range 5
By purpose of loan:
Feeder livestock
Other livestock
Other current operating expenses
Farm machinery and equipment
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
Other
See last page for notes to tables.
* Fewer than 10 sample loans
S1-8
$10-24
$25-48
$50-96
$100-249
$250 and over
$1,245,489
66,458
9.6
$163,829
44,427
7.9
$181,268
12.094
8.9
$155,502
4.528
7.1
$170,728
2,701
11.2
$346,388
2,349
12.7
$227,774
359
6.9
13.85
-•2
13.10-U.75
14.44
.33
13.52-15.03
14.48
.34
13.96-15.00
14.21
.27
13.65-14.93
14.05
.36
13.62-14.49
13.99
.46
13.52-14.65
12.30
.63
11.47-13.38
13.76
14.23
14.10
14.15
13.14
14.37
14.63
14.46
13.99
14.69
14.40
14.51
14.46
14.33
14.91
14.51
14.71
13.87
14.26
14.43
13.27
14.64
12.38
14.24
14.55
12.87
14.11
12.94
10.96
42.7
32.0
23.4
19.1
31.4
33.5
27.6
21.9
40.0
42.8
38.9
12.9
83.6
67.9
12.9
8.0
50.#
6.0
22.5
6.5
11.0
56.7
12.6
11.1
13.3
15.6
47.0
9.6
12.6
11.1
16.9
46.5
8.9
16.6
13.3
12.1
19.1
47.0
51.3
51.1
22.8
34.7
23.5
*232.657
3,296
6.7
$6,322
1.623
6.4
$9,644
636
7.8
$13,426
400
9.5
$15,541
224
9.2
$30,971
220
7.4
$156,753
193
6.1
12.47
.30
11.76-13.65
13.61
.10
12.68-14.31
13.37
.20
12.75-13.93
13.24
.11
12.57-14.01
12.98
.24
12.25-13.83
13.29
.30
12.59-13. *2
12.09
.49
11.47-12.96
12.29
12.57
13.2*
13.31
11.54
12.74
13.58
13-64
14.71
13.88
12.21
12.58
10.95
12.35
12.38
13.54
13.39
13.69
13.29
13.57
13.64
12.98
13.66
13.72
13. 23
10.96
81.1
74.7
73.5
69.4
80.4
74.9
78.2
69.6
80.6
71.7
91.9
76.1
79.5
75.3
23-9
5.7
33.1
2.5
29.8
10.5
8.9
61.3
3.5
15.7
14.2
12.8
23.9
15.6
27.7
54.0
5.1
21-6
57.8
46.1
53.2
30.7
18.9
23.0
21.5
34.2
$1,012,832
63,162
10.1
$157,507
42,804
7.9
$171,624
11.458
9.0
$142,076
4.129
6.9
$155,187
2.477
11.4
$315,417
2,129
13.1
14.17
.28
13.63-14.87
14.48
.30
13.57-15.03
14.54
.27
13.98-15.03
14.31
j.24
13.96-14.94
14.15
.25
13.63-14.49
14.06
.34
1 3 . 6 0 - 1 * . 75
14.55
14.49
14.24
14.22
13.67
14.48
14.67
14.50
13.98
14.74
14.53
14.53
14.54
14.35
15.03
14.73
13.73
*
13.94
14.31
14.64
33.9
22.2
21.4
17. 1
28.7
31.2
22.9
17.4
35.9
39.9
33.7
6.7
10.3
8.5
53.2
6.8
20.8
6.4
11.0
58.6
13.0
11.0
13.3
16.2
46.6
9.9
12.1
10.9
12.2
45.4
47. 1
*
*
51.1
NOTES
The survey of terms of bank lending to business is
taken of about 340 banks selected to represent all
sizes of banks. The sample data are collected over one
business week and used to estimate lending terms at
all insured commercial banks. Short term loans have
original maturities of less than one year, and long term
loans have maturities of one year or more. Construction and land development loans include both
unsecured and loans secured by real estate. Thus,
1
2
3
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.
The survey of terms of bank lending to farmers covers
about 250 banks selected to represent all sizes of
banks. Loans secured by real estate, purchased loans,
foreign loans, and loans of less than $1,000 are excluded from the survey.
As of 9/30/82, average domestic assets of 48 large 4
banks were $13.3 billion and assets of the
smallest of these banks were $2.5 billion. For all
insured banks, total domestic assets averaged
$123 million.
5
The weighted average maturity is calculated only
for loans with a stated date of maturity (that is,
loans payable on demand are excluded). In com6
puting the average, each loan is weighted by its
dollar amount.
The approximate compounded annual interest
rate on each loan is calculated from survey data
on the stated rate and other terms of the loan;
then, in computing the average of these approximate effective rates, each loan is weighted by its
dollar amount.
The chances are about 2 out of 3 that the average
rate shown would differ by less lhan this amount
from the average rate that would be found by a
complete survey of lending at all banks.
The interquartile range shows the interest rate
range that encompasses the middle fifty percent
of the total dollar amount of loans mlde.
Most "large banks" (survey strata 1 to 3) had over
$400 million in total assets as of 9/30/82; the
smallest bank surveyed in this group had total
assets of $331 million. Most "other banks '
(survey strata 4 to 6) had total assets below $400
million; the largest bank surveyed in this group
had total assets of $1,340 million.
@FedFRASER