The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
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.