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FEDERAL FIESERVEf^jttoal release
RESERVEr statistical
•<Lt
f4R
T}

°°

9 <987

«a>E84t
E.2
ti
SURVEY OF TERMS OF BANK LENDING

. FOR IMMEDIATE RELEASE
October 14, 1987

Note to Users
The E.2 release containing data for the May 1987 Survey, dated
July 20, 1987, reported that an edit examination of commercial and industrial loan data had resulted in an increase in reported demand loans,
loans having no stated maturity, and a decrease in loans reported as
having a maturity of one year and over. The edit examination of the May
Survey was limited to certain large respondent banks. A follow-up edit
review of commercial and industrial loans of all respondents reporting
to the August Survey has resulted in further reclassifications from
maturities of "one year and over" to "no stated maturity."
Under the terms of a commonly used lending arrangement, revolv- ing loan commitments, banks provide many larger business customers with
two borrowing options. Loans taken down for specific maturities, for
example 60 days, typically are priced with reference to domestic or
foreign money market rates such as rates on certificates of deposit or
the London Interbank Offered Rate (LIBOR). Alternatively, credit may be
taken down under terms that allow the borrower to repay or reprice the
loan at any time without penalty; loans having these more flexible features are more expensive and typically are priced with reference to the
prime rate. Loans taken down under the so-called "prime option" are
properly reported as having "no stated maturity" since they may be
repaid or repriced at any time. However, some respondents have mistakenly reported the expiration date of the underlying commitment as the
maturity date of such loans. The reclassifications reflect corrections
of these reporting errors.
Revised data for Table 5, "Loans to Farmers" from the survey
made during May 4-8, 1987, are attached to this release. The revised
data exclude the portion of a large long-term loan that was not retained
by the originating bank, but which inadvertently had been included in
data originally reported. Users may note that the revised data still
show an unusually long weighted average maturity. Such an unusual
maturity occurs when one or more large sample loans with relatively long
maturities (e.g., 10 years) are reported by the less intensively sampled
smaller banks. Sampling variability of data on average maturity has
probably increased since August 1986, when the Survey began to include
loans secured by farm real estate.




FEDERAL RESERVE statistical release
FOR IMMEDIATE RELEASE
OCTOBER 14, 1987

E.2
SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 3-7, 1987

COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY ALL COMMERCIAL BANKS
1
LOAN CHARACTERISTICS

AMOUNT
OF LOANS
($1,000)

|
|
|

DAYS

MOST |
COMMON
BASE I
PRICINGI
COMMITMENTj PARTICIPATION RATE I

INTERQUARTILE
RANGE
5/

AVERAGE WEIGHTED| WEIGHTED|
AVERAGE I AVERAGE |STANDARD
SIZE
($1,000) MATURITY EFFECTIVEI ERROR
2/1
3/1
4/

1/

PERCENTAGE OF AMOUNT
OF LOANS MADE UNDER>

LOAN RATE (PERCENT)

6 / ,

. i

|

1. ALL C & I LOANS
7.53

0.04

7.25-7.79

78.5

5.6

FED FUNDS

16
14
21

7.87
7.68
8.71

0.16
0.16
0.15

7.25-8.12
7.19-7.93
7.76-9.66

81.9
81.7
82.7

7.0
6.7
8.4

DOMESTIC
DOMESTIC
PRIME

119
74
167

8.81
8.54
9.09

0.18
0.23
0.19

7.84-9.65
7.59-9.38
8.48-9.65

»;!

13.8
19.6
7.6

PRIME
FOREIGN
PRIME

lis!

0.12

8.93

III

7.76-9.65
6.94-7.65
8.51-9.65

80.1
91.6
78.9

5.9
2.1
6.3

PRIME
FED FUNDS
PRIME

42

8. 20

0.15

7.36-8.75

78.9

7.8

FED FUNDS

19
107
114
90
70
56
16

7. 76
11. 22
10. 55
10. 20
.49
9.
8,
.20
.66
7,

0.12
0.17
0.22
0.19
0.18
0.08
0.06

7.26-7.97
10.25-12.19
9.84-11.57
9.57-10.94
8.42-10.47
7.58-8.64
7.25-7.89

78.9
19.0
30.4
24.6
46.9
77.9
80.5

8.4
0.2
0.1
0.8
3.4
4.2
8.7

FED FUNDS
PRIME
PRIME
PRIME
PRIME
DOMESTIC
FED FUNDS

184
10
34
65
198
666
4 ,253

138
144
134
143
175
164
120

8 .96
10 .32
10 .19
9.94
9.53
9 .22
8 .57

0.12
0.10
0.11
0.07
0.02
0.05
0.11

8.31-9.65
9.58-10.86
9.38-10.75
9.14-10.65
8.75-10.20
8.57-9.69
7.65-9.31

78.9
68.5
70.7
81.0
82.2
83.3
78.0

6.8
0.9
4.8
4.1
5.6
7.4
7.7

PRIME
PRIME
PRIME
PRIME
PRIME
PRIME
PRIME

226

"35

8.78

0.24

7.56-9.65

72.3

5.7

PRIME

IS:?
44.7

5.6
1.5
4.7
53.7
1.1

FED FUNDS
OTHER
PRIME
OTHER
FED FUNDS

70.6
38.2
49.7
64.4
78.6

5.8
1.5
3.1
3.3
6.9

15,529,996

8,127

6,707,864
5,502,495
1,205,369

622

OVER ONE MONTH AND
UNDER A YEAR
-FIXED RATE
-FLOATING RATE

10,387,888
5,400,259
4,987,630

138

DEMAND
8/
-FIXED RATE
-FLOATING RATE

11,085,901
1,099,847
9,986,053

234
442
222

TOTAL UNDER ONE YEAR
-FIXED RATE
BY SIZE ($1,000)
1-24
25-49
50-99
100-499
500-999
1000+
-FLOATING RATE
BY SIZE ($1,000)
1-24
25-49
50-99
100-499
500-999
1000+

43,711,649

323

27,515,318
226,738
124,988
134,771
488,361
305,991
26,234,470

586
7
31
62
177
646
8 ,765

16,196,331
413,423
496,363
770,480
2,936,644
1,385,636
10,193,785

4,107,851

OVERNIGHT

7/

ONE MONTH AND UNDER
(EXCL OVERNIGHT)
-FIXED RATE
-FLOATING RATE

III

HONtHS
TOTAL ONE YEAR AND OVER
FI

D

E

BY SIZE (tl,000)
1-99
100-499
500-999
1000+

FL

BY T SIZE R (Il,000)
1-99
100-499
500-999
1000+

1,631,886
124,599
68,226
133,674
1,305,388

209
18
206
598
7,515

57
50
54
45
59

8.68
12.11
10.41
9,49
8.18

0.31
0.34
0.18
0.62
0.38

7.56-9.31
10.25-12.75
9.17-11.30
8.99-10.20
7.43-8.69

2,475,965
191,560
358,589
120,155
1,805,660

239
24
193
661
5,039

48
41
51
47
48

8.84
10.54
10.14
9.24
8.38

0.19
0.18
0.17
0.13
0.15

7.72-9.65
9.65-11.63
9.38-10.75
8.57-9.65
7.51-9.01

-5S7T

I LOAN AATfe (PEftdENti I
I E l e c t i v e I NOMINAL
3/

I

I

!l_i.

11:1

PRIME
RATE
10/

2. LOANS MADE BE,OH PRIME 11/
14,789,118

ONE MONTH AND UNDER
(EXCL OVERNIGHT)

5,581,887

3,995

OVER ONE MONTH AND
UNDER A YEAR

4,314,622

974

DEMAND

8/

3,416,337
28,101,964
23,810,304
4,291,661

3,045
3,880
1,389

7.20

8.25

80.1

6.5

14

7.53

7.26

8.26

84.2

6.3

102

7.70

7.45

8.36

79.2

10.8

7.47

7.25

8.30

58.9

3.8

7.51
7.49
7.62

;!
:!

8.27
8.26
8.33

78.2
80.9
63.0

6.8
6.8
6.9

7.65
7.68
7.62

7.46
7.52
7.40

8.31
8.35

90.1
84.1
96.0

!:!

1,796

TOTAL UNDER ONE YEAR
-FIXED RATE
-FLOATING RATE

7.47

9,862

OVERNIGHT

7/

22
14
120
MONTHS

TOTAL ONE YEAR AND OVER
-FIXED RATE
-FLOATING RATE

SEE LAST PAGE FOR FOOTNOTES




1,942,217
960,376
981,842

1,752
1,578
1,963

—43
51
42

8.28

PRIME
PRIME
PRIME
PRIME
DOMESTIC

SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 3-7, 1987
COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY LARGE BANKS

LOAN CHARACTERISTICS

AMOUNT
OF LOANS
($1,000)

|
|
I

AVERAGE WEIGHTED| W E I G H T E D I f
SIZE
I AVERAGEI AVERAGE I STANDARD
($1,000)(MATURITY!EFFECTIVE! ERROR
2/1
3/|
4/I

INTERQUARTILE
RANGE
5/

_!_

DAYS

1/

MOST I
COMMON I
BASE |
PRICING)
I COMMITMENT I PARTICIPATION RATE I
PERCENTAGE OF AMOUNT
OF LOANS MADE UNDER,

LOAN RATE (PERCENT)

„
!

I

_Z_I

ALL C & I LOANS
13,559,929

10,061

X

7.50

0.07

7.25-7.72

76.0

3.6

FED FUNDS

ONE MONTH AND UNDER
(EXCL OVERNIGHT)
-FIXED RATE
-FLOATING RATE

5,221,946
4,516,988
704,958

2,491
4,488
647

15
14
19

7.70
7.57
8.52

0.10
0.09
0.20

7.19-7.93
7.17-7.87
7.62-9.49

83.1
82.9
84.8

6.0
6.4
3.4

DOMESTIC
DOMESTIC
DOMESTIC

OVER ONE MONTH AND
UNDER A YEAR
-FIXED RATE
-FLOATING RATE

6,520,728
4,210,278
2,310,450

783
2,724
341

98
66
157

8.42
8.32
8.58

0.11
0.17
0.21

7.59-9.11
7.59-8.94
7.89-9.17

82.7
82.1
83.7

17.2
22.1
8.4

FOREIGN
FOREIGN
PRIME

DEMAND
8/
-FIXED RATE
-FLOATING RATE

6,782,199
462,720
6,319,479

531
1,734
505

X
X
X

8.71
7.61
8.79

0.21
0.32
0.22

7.63-9.65
7.37-7.57
7.83-9.65

75.9
90.3
74.9

5-5
3.9

4.0

PRIME
DOMESTIC
PRIME

OVERNIGHT

7/

TOTAL UNDER ONE YEAR
-FIXED RATE
BY SIZE (*1,000)
1-24
25-49
50-99
100-499
500-999
1000+
-FLOATING RATE
BY SIZE ($1,000)
1-24
25-49
50-99
100-499
500-999
1000+

32,084,802

1,307

29

7.98

0.11

7.32-8.57

78.5

6.8

FED FUNDS

22,740,014
7,126
8,051
15,679
124,586
160,198
22,424,374

5,468
10
33
66
222
673
10,361

16
104
91
88
62
50
16

7.67
10.18
9.92
9.44
8.80
8.34
7.66

0.09
0.16
0.43
0.22
0.11
0.12
0.09

7.25-7.89
9.38-11.02
9.58-10.67
9.04-10.11
8.21-9.58
7.65-8.65
7.25-7.86

78.8
32.0
21.4
39.6
63.1
83.7
78.9

7 .6
5.1
1.2
2.0
2.6
3.0
7.7

FED FUNDS
PRIME
PRIME
PRIME
PRIME
DOMESTIC
FED FUNDS

9,344,787
82,032
98,881
195,510
1,020,245
655,438
7,292,681

458
11
34
65
209
678
5,421

124
143
139
138
145
138
119

8.72
10.08
9.97
9.73
9.45
9.16
8.52

0.18
0.12
0.13
0.07
0.02
0.08
0.20

7.81-9.58
9.20-10.75
9.11-10.75
9.11-10.20
8.60-9.96
8.57-9.66
7.57-9.14

77.9
83.0
82.0
83.2
86.7
84.8
75.7

5.0
0.3
0.7
1.1
2.9
6.7
5.3

PRIME
PRIME
PRIME
PRIME
PRIME
PRIME
PRIME

2,752,198

1,450

52

8.28

0.22

7.43-8.84

81.5

2.2

DOMESTIC

1,113,028
7,666
13,900
25,119
1,066,343

2,241
27
255
715
8,876

58
49
52
48
59

8.06
11.54
10.65
9.95
7.96

0.29
0.32
0.24
1.17
0.23

7.43-8.57
10.35-12.40
10.20-11.30
8.02-10.52
7.43-8.53

87.9
41.3
46.5
77.3
89.1

0.0
1.0
0.0
0.0
0.0

FOREIGN
OTHER
DOMESTIC
FED FUNDS
FOREIGN

1,639,170
24,517
77,910
58,101
1,478,642

1,169
34
226
643
6,201

47
40
47
52
47

8.42
10.19
9.59
9.19
8.30

0.21
0.28
0.12
0.22
0.23

7.53-9.31
9.14-10.75
9.11-9.92
8.57-9.73
7.44-8.84

77.2
58.4
65.5
77.7
78.1

3.6
0.2
4.8
0.0
3.8

DOMESTIC
PRIME
PRIME
PRIME
DOMESTIC

|
TOTAL ONE YEAR AND OVER
-FIXED RATE
BY SIZE ($1,000)
1-99
100-499
500-999
1000+
-FLOATING RATE
BY SIZE ($1,000)
1-99
100-499
500-999
1000+

MONTHS

DAYS

|

I LOAN RATE: (PERCENT)
"(EFFECTIVE I NOMINAL
I
3/ |
9/

7.44

7.17

8.25

77.8

3.8

14

7.50

7.24

8.25

83.9

5.9

92

7.58

7.34

8.25

82.1

9.5

7.50

7.27

8.25

40.0

1.5

1:11

!:!!
8.25

75.9
79.4
54.2

4.8
4.9
4.6

7.40
7.43
7.39

ill

93.7
90.1
96.8

0.3
0.6
0.0

12,854,344

11,398

ONE MONTH AND UNDER
(EXCL OVERNIGHT)

4,635,102

5,903

OVER ONE MONTH AND
UNDER A YEAR

3,376,213

5,819

DEMAND

2,280,917

4,426

23,146,576
19,910,195
3,236,381

7,694
8,559
4,745

19
12
115

1,664,677
784,716
879,961

7,236
9,026
6,149

~~46
54
40

OVERNIGHT

7/

8/

TOTAL UNDER ONE YEAR
-FIXED RATE
-FLOATING RATE

I

I

2. LOANS MADE BELOW PRIME 11/

7.56

MONTHS
TOTAL ONE YEAR AND OVER
-FIXED RATE
-FLOATING RATE

SEE LAST PAGE FOR FOOTNOTES




PRIME |
RATE |
10/ |

7.58
7.56
7.60

8.25

SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 3-7, 1987
TABLE 3
COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY OTHER BANKS
j
LOAN CHARACTERISTICS

AMOUNT
OF LOANS
($1,000)

J

T

LOAN RATE (PERCENT)

AVERAGE I WEIGHTEDI"WEIGHTED!
|
SIZE
I AVERAGE) AVERAGE |STANDARDI
($1,000)1 MATURITY|EFFECTIVE| ERROR
j
J
2/1
3/1
4/1

INTERQUARTILE
RANGE

1/
PERCENTAGE OF AMOUNT
OF LOANS MADE UNDER:

MOST
COMMON
BASE
PRICING
|COMMITMENT|PARTICIPATION RATE
6/

I

DAYS
1. ALL C & I LOANS
OVERNIGHT

7/

1,970,067

3,498

X

7 .69

0.06

7.45-7.90

95.5

19.1

FED FUNDS

ONE MONTH AND UNDER
(EXCL OVERNIGHT)
-FIXED RATE
-FLOATING RATE

1,485,918
985,508
500,410

171
170
172

18
14
24

8 .45
8 .18
8.97

0.18
0.23
0.21

7.57-8.81
7.50-8.24
8.04-9.66

77.7
76.6
79.7

10.7
8.3
15.5

PRIME
FED FUNDS
PRIME

OVER ONE MONTH AND
UNDER A YEAR
-FIXED RATE
-FLOATING RATE

3,867,161
1,189,981
2,677,180

58
35
83

153
104
175

9 .46
9 .31
9.
.53

0.11
0.14
0.15

8.53-10.20
7.97-10.47
8.57-10.20

65.3
48.6
72.8

8.1
10.9
6.9

PRIME
PRIME
PRIME

DEMAND
8/
-FIXED RATE
-FLOATING RATE

4,303,702
637,128
3,666,574

124
286
113

X
X
X

8. 92
7. 50
9. 16

0.12
0.14
0.09

8.30-9.65
6.90-7.80
8.57-9.65

86.7
92.5
85.7

8.9
0.4
10.4

PRIME
FED FUNDS
PRIME

11,626,848

105

85

8. 83

0.10

7.72-9.65

79.9

10.6

PRIME

4,775,304
219,611
116,937
119,092
363,775
145,793
3,810,096

112
6
31
62
165
618
4,597

34
107
116
90
73
63
20

8. 17
11. 26
10. 60
10.30
9. 73
8. 04
7. 70

0.14
0.09
0.17
0.18
0.11
0.11
0.07

7.39-8.19
10.25-12.19
9.84-11.57
9.58-11.20
8.51-10.97
7.56-8.60
7.33-7.96

79.5
18.6
31.0
22.7
41.4
71.6
90.2

12.4
0.1
0.1
0.6
3.6
5.6
14.9

FED FUNDS
PRIME
PRIME
PRIME
PRIME
OTHER
FED FUNDS

6,851,544
331,391
397,482
574,970
1,916,399
730,198
2,901,104

101
9
34
65
192
655
2,758

151
144
133
145
187
180
122

9. 29
10. 38
10.25
10. 01
9. 57
9. 27
8. 72

0.09
0.14
0.18
0.11
0.03
0.04
0.13

8.57-9.92
9.65-10.97
9.58-10.75
9.38-10.75
8.84-10.20
8.57-9.92
8.10-9.58

80.2
65.0
67.9
80.3
79.8
81.9
83.5

9.4
1.1
5.9
5.2
7.0
8.0
13.6

PRIME
PRIME
PRIME
PRIME
PRIME
PRIME
PRIME

1,355,652

83

52

9.80

0.14

8.87-10.53

53.5

12 .9

PRIME

518,858
116,932
54,326
108,555
239,045

71
17
197
577
4,462

55
50
55
44
63

10.00
12.14
10.34
9.39
9.16

0.29
0.62
0.27
0.20
0.52

8.99-10.53
10.25-12.75
9.07-11.07
8.99-9.87
7.56-9.92

46.7
12.9
44.2
28.7
72.0

17 .7
1 .5
5 .9
66 .1
6 .2

OTHER
OTHER
PRIME
OTHER
FED FUNDS

836,795
167,043
280,679
62,054
327,018

93
23
185
679
2,727

50
42
52
43
53

9.68
10.59
10.30
9.29
8.75

0.10
0.16
0.28
0.09
0.19

8.77-10.52
9.65-11.85
9.65-10.75
8.57-9.65
7.81-9.38

57.8
35.2
45.3
51.9
81.2

10 .0
1 .6
2 .6
6 .5
21 .2

PRIME
PRIME
PRIME
PRIME
PRIME

TOTAL UNDER ONE YEAR
-FIXED RATE
BY SIZE ($1,000)
1-24
25-49
50-99
100-499
500-999
1000+
-FLOATING RATE
BY SIZE (31,000)
1-24
25-49
50-99
100-499
500-999
1000+

MONTHS
TOTAL ONE YEAR AND OVER
-FIXED RATE
BY SIZE ($1,000)
1-99
100-499
500-999
1000+
-FLOATING RATE
BY SIZE ($1,000)
1-99
100-499
500-999
1000+

DAYS

LOAN RATE (PERCENT)
I EFFECTIVE
I
3/

NOMINAL
9/

PRIME
RATE
10/

2. LOANS MADE BELON PRIME 11/
1,934,775
946,784

1,546

OVER ONE MONTH AND
UNDER A YEAR

938,409

244

8/

1,135,420
4,955,388
3,900,108
1,055,280

797
1,023
438

7.39

8.25

95.4

24.5

15

7.67

7.40

8.29

85.7

8.2

136

8.13

7.85

8.75

68.7

15.3

7.40

7.23

8.40

96.8

8.3

7.70
7.67
7.80

7.44
7.42
7.54

8.39
8.34
8.57

88.8
88.6
89.8

if:!

8.03
8.21
7.72

7.78
7.95
7.49

8.70
8.81
8.51

68.9
57.1
89.0

36.0
37.6
33.2

819

TOTAL UNDER ONE YEAR
-FIXED RATE
-FLOATING RATE

7.67

5,203

ONE MONTH AND UNDER
(EXCL OVERNIGHT)

OVERNIGHT

DEMAND

7/

38
23
133

14.0

MONTHS
TOTAL ONE YEAR AND OVER
-FIXED RATE
-FLOATING RATE

SEE LAST PAGE FOR FOOTNOTES




277,541
175,660
101,881

316
337
285

—43
39
58

SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 3-7, 1987
TABLE 4
CONSTRUCTION AND LAND DEVELOPMENT LOANS (SECURED AND UNSECURED BY REAL ESTATE)
1

LOAN RATE (PERCENT)
AMOUNT 1 AVERAGE
1 OF LOANS |
SIZE
1 ($1,000) 1 ($1,000)

LOAN CHARACTERISTICS

!
1. ALL BANKS

!1

1

STANDARD
ERROR
4/

INTERQUARTILE
RANGE
5/

PERCENTAGE OF AMOUNT

COMMITMENT 1 PARTICIPATION

1

i

BY TYPE OF CONSTRUCTION
SINGLE FAMILY
MULTIFAMILY
NONRESIDENTIAL

2. LARGE BANKS
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

1/

3 ,679,913

236

5

9.30

0.11

8.75-9 .65

88.4

16.0

1 ,944,077
40,789
40,700
63,707
36,819
1 ,762,062

327
12
34
71
175
11,236

3
6
18
9
9
2

9.23
11.04
11.12
10.56
10.13
9.08

0.31
0.25
0.36
0.50
0.71
0.26

8.75-9.28
10.47-12 .13
10.47-12 .03
10.47-10 .97
10.47-10 .78
8.75-9 .28

92.0
41.6
31.6
12.7
81.7
97.6

6.8
36.8
14.2
11.3
5.2
5.8

1 ,735,836
50,856
52,673
68,682
306,440
1 ,257,185

180
10
36
72
200
3,256

8
8
7
10
13
7

9.38
10.35
9.85
10.01
9.55
9.25

0.13
0.12
0.09
0.10
0.15
0.15

8.57-9 .92
9.66-10 .75
9.42-10 .24
9.65-10 .75
9.11-10 .20
8.57-9 .92

84.4
84.3
89.5
78.9
62.6
89.8

26.3
1.6
1.9
3.6
19.7
31.2

621,561
218,765
2 ,839,587

63
177
626

9
5
4

9.75
9.65
9.18

0.15
0.12
0.11

9.17-10 .47
.34
9.21-10,
8.73-9 32

67.1
89.8
93.0

19.1
6.0
16.1

2,814,435

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+

3. OTHER BANKS

AVERAGE | WEIGHTED
1
MATURITY | AVERAGE
1
(MONTHS) I EFFECTIVE
1
2/

1,512

0.14

8.73-9 .32

95 .0

16 .6

1,753,481
1,510
1,054

5,094
11
37

5 .9
4 .7
0 .0

3,829
1,746,234

50 .4
5 .8

9.07
10.20
9.99
x
7.23
9.08

0.36
0.18
0.51

8.75-9 .28
9 .92-10 .75
9 .92-10 .75

215
11,832

2
9
11
x
18
2

1.06
0.34

1 .13-10 .75
8.75-9 .28

97 .5
67 .1
54 .8
x
71 .8
97 .6

1,060,953
5,701
7,393
14,718
85,785
947,357

699
11
34
73
232
4,438

5
10
9
8
9
4

9.25
9.80
9.60
9.71
9.63
9.20

0.18
0.15
0.09
0.12
0.13
0.23

8.57-9 .79
9 .52-10 .20
9.11-9 .92
9.38-9 .92
9.31-9 .92
8.51-9 .69

91 .0
93 .1
88 .1
90 .7
76 .8
92 .3

34 .4
5,
.2
5 .9
8,
.6
7.
.5
37.
.6

189,325
148,590
2,476,519

2,257

9.24
9.67
9.10

0.20
0.15
0.16

8.12-9 .65
9 .21-10 .34
8.73-9 .28

97 .1
96 .4
94 .8

14 .7
4 .2
17 .5

865,478

63

12

9.83

0.09

9 .11-10,
.47

66 .9

13 .8

X

X

ill

X

X

X

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+

190,596
39,280
39,646
62,853
32,990

34
12
34
71
171
x

10
6
18
9
8
x

10.66
11.07
11.15
10.58
10.47

0.21
0.40
0.18
0.30
0.22

10 .47-10 .97
10 .47-12,
.13
10 .47-12,
.03
10 .47-10 .97
10 .47-10,
.78

41 .4
40,
.6
30,
.9
12 .0
82 .9

14 .6
38 .0
14 .6
11 .2
0 .0

674,883
45,155
45,279
53,965
220,656
309,828

83
9
36
71
190
1,795

13
8
7
10
14
13

9.60
10.42
9.89
10.09
9.51
9.41

0.20
0.11
0.13
0.14
0.29
0.20

9 .11-10 20
9 .92-10,
.75
9 .42-10.
.61
9 .65-10.
.75
8 .84-10. 20
8 .87-10, 20

74 .1
83,
.1
89. 8
75.
.6
57. 1
82. 2

13 .6
1 .1
1. 3
2. 2
24. 5
11. 5

BY TYPE OF CONSTRUCTION
SINGLE FAMILY
MULTIFAMILY
NONRESIDENTIAL

432,236
70,175
363,068

47
70
106

8
14

11

9.97
9.60
9.71

0.16
0.21
0.08

9 .58-10. 65
8 .59-10. 20
9 .11-10. 20

53. 9
75. 8
80. 6

21. 1
10. 0
6. 0

X

X

X

NOTE, 41.2 PERCENT OF CONSTRUCTION AND LAND DEVELOPMENT LOANS WERE PRICED RELATIVE TO THE PRIME RATE
SEE LAST PAGE FOR FOOTNOTES
* FEWER THAN 10 SAMPLE LOANS.




X

X

,

Table 5
LOANS TO FARMERS
Size class of loans (thousands)
all slates
ALLBANKS
Amount of loans (thousands)
Number of loans
Weighted average maturity (months)2
Weighted average interest rate (%)3
Standard error4
Interquartile range5
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"
Amount of loans (thousands)
Number of loans
Weighted average maturity (months)2
Weighted average interest rate (•/•)'
Standard error4
Interquartile range5
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
OTHER BANKS"
Amount of loans (thousands)
Number of loans
Weighted average maturity (months)2
Weighted average Interest rate (%)3
Standard error4
Interquartile range5
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
See last page for notes to tables
'Fewer than 10 sample loans




$1-9

$10-24

$25-49

$250 and over

$100-249

$50-99

$972,091
4u,yu«*
8.0

$ 113,363
33,550
7.0

$107,665
7,292
6.9

$96,060
2,797
7.3

$140,093
1,981
15.3

$162,069
989
8.6

$352,841
336
5.4

10.41
.57
9.50-11.33

11.54
.39
10.77-12.31

11.19
.26
10.34-12.13

11.09
.48
10.36-12.13

10.98
.41
1 0 . 5 2 - 1 1 . 83

10.59
.53
10.11-11.07

9.32
.79
8. 6 0 - 1 0 . 38

9.92
11.05
10.82
10.77
10.88
9.77

11.88
12.25
11.40
11.39
11.59
12.04

11.42
12.0#
11.19
10. 22
11.76
10.24

11.19
10.2?
11.21

11.19
11.95
10.63

10.56

11.57

10.79

9.93

9.00

55.9
59.9

52. 4
46.9

55.9
50.6

65.7
51.8

55.2
47.2

45.4
52.3

59.6
77.7

29.6
3.8
4b. 8
2.8
2.6
14.4

14.7
4.3
68.4
6.4
1.2
5.1

10.9
6.4
69.2
2.1
3.2
8.1

20.8
2.4
57.5

36.8
7.0
30.7

17.7

45.2

8.6

11.8

19.3

19.8

$374,132
4,194
5.1

$8,197
2,050
5.3

$12,060
818
6.2

$16,781
483
6.4

$24,929
387
6.5

$43,127
296
7.8

$269,038
161
4.7

9.30
.55
8.60-10.20

10.53
.38
10.00-10.83

10. 15
.16
9 . 5 8 - 1 0 . 74

10.02
.42
9.50-10.52

9.94
.35
9 . 2 4 - 1 0 . 4?

9.92
.37
9. 1 4 - 1 0 . 5 2

8.9*
9.40
9.84
10.28
10. 19
9.05

10.35
10.54
10.46
11.09
11.86
10.47

9 . 94

9.99
10.46
9.98

10. 13

10.03

8.79

9.81

9.81

9. 75

59.6
93.2

10.16
$
*

$
*

*
$

$
$

$
$

$

*
$

8.93
$

•

10.83

10.08

*
$

$

*

32.9

54.4
*
*

*
*

8.6*-

9.02
.74
9.84

*
*

10.18

10.08

9 . 97

9.87

4.73

90.5
82.4

91.8
85.4

92.2
84.7

95.3
91-8

9Q.0
91.7

47.0
94. 7

42.5
3.0
32.5
.6
.9
20.5

9.7
1.4
68.0
5.2
3. 2
12.6

15.2

19.3
7.5
53.7

22 ..2

27.2

50.5

60.6

46.1
#
$

44.2

25.6

16.3

14.8

22.6

19.7

21.2

$597,959
42,750
9.4

$105,166
31,500
7. 1

$95,604
6,474
7.0

$79,279
2,313
7.4

$115,165
1,594
16.6

$118,942
693
8.4

*
*

11.20
. 19
10. 7 9 - 1 1 . 8 3

10.84
.37
10.21-11.80

*

*
*
$

#

$

*

11.11
.12
10.47-11.91

11.62
.10
10.79-12.31

11.32
.20
10.50-12.19

11.32
.22
10.52-12.17

11.09
11.77
11.18
10.82
10.99
10.64

11.96
12.29
11.47
11.41

11.69

11.42

11. 32

11.44

10.93

53.6
39.1

49.2
44.2

51.3
46.3

64.0
44.8

46.5
37.6

21.6
4.3
55.7
4.1
3.6
10.6

15.1
4.5
68.4
6.5

10.3

21.1
s
58.3

39.9
.e
27.2

12.38

4.5

*

11.31

*
*
$

$

*
$

*

•
*

•
*
*

*
$
*

*

70.3
*
*
*

*

*

•

*

$

•
*

*

29.2
38.0
*
*
*
#
*

•

*

*
*
*
*
$
*
*

REVISED DATA FROM SURVEY MADE DURING MAY 4-8, 1987
Table 5
LOANS TO FARMERS
slass of loans (thousands)
Size <
all slzee
ALL BANKS
Amount of loans (thousands)
Number of loans
Weighted average maturity (months)*
Weighted average interest rate (%}'
Standard error4
Interquartile range6
By purpose of loan:
Feeder livestock
Other livestock
Other current operating expenses
Farm machinery and equipment
Farm real estate
Other

Weighted average Intereet rate (%)'
Standard error4
Interquartile range*
By purpoee 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 ratee
Made under commitment
By purpoee of loan:
Feeder llveetock
Other llveetock
Other current operating expenses
Farm machinery and equipment
Farm real estate
Other
OTHER BANKS"
Amount of loans (thousands)
Number of loans
Weighted average maturity (monthe)*
Weighted average Intereet rate (•/«)'
Standard error4
Interquartile range*
By purpoee of loan:
Feeder livestock
Other livestock
Other current operating expeneee
Farm machinery and equipment
Farm real aetata
Other
Percentage of amount of loans:
With floating rates
Made under commitment
By purpoee of loan:
Feeder livestock
Other llveetock
Other current operating expeneee
Farm machinery and equipment
Farm real eetate
Other
See l s page f r notes to tables
at
o
•Fewer than 10 sample loans




S2S-40

$250 and over

$100-249

$90-90

**57,646
52,023
16. J

* 124,782
33,606
8.2

*154,320
10,685
d.7

*147,788
4,187
13.1

*132,058
2,053
19.1

*124,44*
954
10.6

*274,254
538
39.0

10.64
• bl
9.84-11.83

11.39
.34
10.73-12.21

11.18
.34
10.50-12.10

11.07
.45
10.38-11.95

10.51
.42
9.89-11.35

10.62
.56
9.46-12.00

9 . 82
.57
9.04-10.02

10.72
9.59
10.94
10.93
11.02
10.00

11.23
10.79
11.46
11.84
9.95
11.67

11.37
10.92
11.25
10.78
10.89
10.21

11.16
10.27
11.21
11.23

11.00

10.43

10,35

11.03

10.13
9.19
9 . 72

10.49

9.93

9.20

9.93

58.1
50.9

49.6
44. 1

44.7
42.9

64.5
42.1

56.0
33.6

84.3
61.1

55.1
67.1

21.5
6.7
47.6
4.1
2.6
17.6

13.2
3.9
72.6
4.2
2.2
4.0

13.4
4.2
71.6
3.6
2.8
4.3

25.1
4.5
45.2
8.4

27.0

23.9

42.7

56.8

24.1
15.0
22.1

14.6

9.9

12.*

38.8

$254,080
3,925
8.2

*7,227
1,843
7.4

*11,850
792
7.5

*15,256
461
6.7

*23,246
348
6.0

*41,874
279
9.6

*154,625
203
8.5

9.38
.58
9.92

10.27
.30
9.73-10.75

9.93
.28
9.31-10.51

9.91
.39
9.38-10.47

9.78
.32
9. 29-10.38

9.58
.39
9.0Q-10.15

9.13
.44
9.50

9.49
8.64
9.69
10.12
9.77
9.25

10.09
10.56
10.26
10.96
10.50
10.10

9.71

9.70

9.69

9.76

9.82

9.53

9.73

9.91

9.83

9.43

9.03

95.0
79.5

87.5
71.8

90.2
73.8

93.6
82.2

90.2
85.3

100.0
81.7

95.1
78.6

27.3
12.9
29.7
1-0
.7
28.4

14.7
4-0
57.4
5.7
3.5
14.6

*703,566
48,098
20.4

*117,555
31,763
8.2

Percentage of amount of loans:
With floating ratee
Made under commitment
By purpose of loan:
Feeder livestock
Other livestock
Other current operating expenses
Farm machinery and equipment
Farm real estate
Other
LARGE BANKS11
Amount of loans (thousands)
Number of loans
Weighted average maturity (months)*

$10-24

$1-9

8.78-

*

9.97
$

*

*

*

*

9.98
*
*

*

$

$

$

*

*

•

•
$

*

•
#

*
*

$

»

$
$

$

$

*
$

8.51-

9.31
*

9.55
$

*

15.5

26.9

26.8

39.9

25.5

57.5

38.5
•

35.4

28.2
e

24.9

$

$

*

#

*
$
#

*

18.0

26.1

28.2

24.9

*142,470
9,893
8.8

*132,531
3,726
13.7

*108,810
1,705
20.8

*82,574)
674
10.. 9

11.09
.17
10.04-12.00

11.46
.16
10.77-12.25

11.29
.19
1 0 . 5 2 - 1 2 . 13

11.20
.21
10.50-11.95

11.35
10.57
11.18
10.98
11.13
10.55

11.31
10.81
11.52
11.92
9.89
12.10

11.53
10.95
11.34
10.76

11.35

10.44

10.62

44.8
40.6

47.2
42.4

40.9
40.3

61.1
37.5

19.4
4.5
54.0
5.2
3.2
13.7

13.1
3.9
73.5
4. 1
2. 1
3.3

13.2
4.3
72.8
3.7

24.9

$

*

3.2

*

11.33

10.67
.27
10.91-11.78
*
#

10.44

*

#

#

*

*

45.9
*

#

13.3

e

48.6
22.6
*
*

44.3
#

*
#

11.14
.40
10.30-12.08
$
$

11.33
*
$

*

76.4
54.6
#
$

71.4

•
•
*

*
*

31.0
*

e
*

•
*
#

*

»
•
•

•

•

*
*
*

•
*
*
•

•

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 reals 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, 1985, assets of most of the large banks were at least § 5.5
billion. For all insured banks, total assets averaged $ 165 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 survey
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
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. Ihe prime rate 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 $ 600 million in total assets, and most "other banks"
(survey strata 4 to 6) had total assets below $ 600 million.