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Of G O W v FEDERAL RESERVE statistical release FOR I M M E D I A T E RELEASE SEPTEMBER 17, 1990 E.2 SURVEY OF T E R M S OF BANK LENDING M A D E DURING A U G U S T 6 - 1 0 , 1990 TABLE 1 COMMERCIAL A N D INDUSTRIAL LOANS M A D E BY ALL C O M M E R C I A L BANKS 1/ LOAN R A T E ( P E R C E N T ) LOAN C H A R A C T E R I S T I C S AMOUNT OF LOANS ($1,000) A V E R A G E W E I G H T E D | WEIGHTEDI SIZE I AVERAGE| AVERAGE I STANDARD ($1,000)1 MATURITYI EFFECTIVEI ERROR 2/1 3/1 4/ bAYS 1. ALL C 4 I LOANS OVERNIGHT 7/ 14,105,344 6,834 8,880,639 5,882,226 2,998,413 1 ,131 1 ,384 833 OVER ONE MONTH A N D UNDER A YEAR -FIXED RATE -FLOATING RATE 11,147,077 5,560,459 5,586,617 DEMAND 8/ -FIXED RATE -FLOATING RATE 11,352,304 2,307,754 9,044,550 ONE MONTH A N D UNDER (EXCL O V E R N I G H T ) -FIXED RATE -FLOATING RATE TOTAL UNDER ONE Y E A R -FIXED RATE BY SIZE ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500-999 1000+ -FLOATING RATE BY SIZE ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500-999 1000+ P E R C E N T A G E OF A M O U N T OF LOANS M A D E UNDER: I MOST |COMMON I BASE I | P R I C I N G ! C O M M I T M E N T | P A R T I C I P A T I O N I RATE 1 1 ' 0.07 8.71-9.24 55.7 12.4 FED FUNDS 17 18 17 9.44 9.28 9.74 0.15 0.17 0.18 8.73-9.68 8.71-9.48 8.86-10.48 88.2 84.4 95.6 13.7 13.3 14.6 DOMESTIC DOMESTIC DOMESTIC 168 202 144 135 101 169 10.14 9.71 10.56 0.19 0.19 0.21 8.87-11.30 8.70-10.47 9.42-11.57 82.8 81.5 84.1 11.9 13.3 10.5 PRIME OTHER PRIME 195 413 172 X X X 10.40 9.41 10.66 0.15 0.11 0.16 9.12-11.35 8.68-10.00 9.73-11.57 80.2 82.6 79.5 8.3 22.1 4.8 PRIME FED FUNDS PRIME 45,485,364 338 49 9.72 0.16 8.79-10.52 74.8 11.5 FED FUNDS 27,855,783 208,602 110,198 122,524 485,093 496,049 26,433,318 706 8 35 64 193 648 7 ,452 27 119 110 106 81 74 24 9.25 12.21 12.40 11.57 10.52 10.00 9.17 0.10 0.26 0.29 . 0.16 0.11 0.18 0.06 8.71-9.43 11.19-13.10 11.63-13.30 10.55-12.41 9.92-11.52 9.04-10.56 8.70-9.35 69.2 28.6 34.3 37.9 48.2 75.9 70.0 13.6 0.9 0.0 0.9 3.3 6.7 14.1 FED FUNDS OTHER . PRIME PRIME PRIME OTHER FED FUNDS 17,629,581 454,671 512,746 848,400 3,303,540 1,547,820 10,962,404 185 10 34 67 203 665 4 ,646 116 159 181 176 184 170 89 10.47 12.10 11.77 11.64 11.39 11.06 9.89 0.18 0.10 0.05 0.05 0.06 0.05 0.14 9.31-11.47 11.46-12.75 11.07-12.31 11.02-12.19 10.52-11.91 10.47-11.63 8.86-10.66 83.7 75.2 78.4 86.9 87.2 87.2 82.5 8.3 1.8 1.2 4.2 6.4 7.5 9.9 PRIME PRIME PRIME PRIME PRIME PRIME PRIME 4,583,101 247 42 j 10.72 0.20 9.73-11.63 70.7 6.9 PRIME 1,282,981 115,008 165,101 47,352 955,521 160 17 185 661 5 ,135 42 48 44 42 41 10.31 12.15 11.62 10.42 9.86 0.31 0.18 0.25 0.36 0.27 8.95-11.57 11.07-12.75 11.02-12.41 9.11-11.43 8.79-10.88 66.1 20.1 30.6 93.1 76.4 3.9 0.1 26.2 6.6 0.3 3,300,120 177,952 529,497 308,667 2,284,004 313 25 218 682 3 ,483 42 44 39 42 43 10.88 12.08 11.34 11.20 10.64 0.23 0.11 0.08 0.14 0.37 10.38-11.85 11.35-12.68 10.52-12.01 10.52-11.63 9.73-11.63 72.4 56.4 75.2 73.5 72.9 8.1 5.0 9.4 9.5 7.9 MONTHS "T5AYT" I LOAN fcATE! (PEftCtNT) I I EFFECTIVE I NOMINAL I 3/ j 9/ I j P RATE 10/ 2. LOANS M A D E BELOW P R I M E 11/ 13,446,713 8,761 ONE MONTH A N D UNDER (EXCL O V E R N I G H T ) 7,270,241 4,592 16 OVER ONE MONTH A N D UNDER A YEAR 6,236,325 709 121 DEMAND 4,348,107 1,221 31,301,386 24,658,959 6,642,427 2,022 OVERNIGHT 7/ 8/ TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE I TOTAL ONE YEAR A N D OVER -FIXED RATE -FLOATING RATE Digitized for SEEFRASER LAST PAGE FOR FOOTNOTES 1,369,561 632,006 737,555 1,159 842 1,709 1 MONTHS 39 40 38 8.57 10.00 55.0 13.0 9.04 8.66 10.00 87.5 10.8 9.12 8.79 10.09 87.4 13.4 9.02 8.72 10.07 67.4 14.3 8.66 9.02 33 23 85 2,654 1,073 8.99 9.12 8.63 8.77 10.03 10.01 10.09 70.7 68.5 78.9 12.7 14.5 9.05 9.05 9.04 8.73 8.79 8.69 10.07 10.02 10.11 70.5 69.9 71.0 7.0 3.0 10.5 6.1 | 1 T I | | l_!ll 9.03 j TOTAL ONE YEAR A N D OVER -FIXED RATE BY SIZE ($1,000) 1-99 100-499 500-999 1000+ - F L O A T I N G RATE BY SIZE ( $ 1 , 0 0 0 ) 1-99 100-499 500-999 1000+ J INTER QUARTILE OTHER PRIME OTHER OTHER FOREIGN PRIME PRIME PRIME PRIME PRIME SURVEY OF T E R M S OF BANK LENDING M A D E DURING AUGUST 6 - 1 0 , 1990 TABLE 2 COMMERCIAL A N D INDUSTRIAL LOANS M A D E BY LARGE BANKS LOAN C H A R A C T E R I S T I C S 1 1 1 I 1 AMOUNT OF LOANS ($1,000) 1 I I | I | 1/ I I LOAN RATE ( P E R C E N T ) I I A V E R A G E jWEIGHTEDI WEIGHTEDI I INTERSIZE 1 A V E R A G E I A V E R A G E I STANDARD! QUARTILE ($1,000)I M A T U R I T Y | E F F E C T I V E | ERROR I RANGE 1 2/ 1 v l DAYS ! P E R C E N T A G E OF A M O U N T OF LOANS M A D E UNDER: MOST COMMON BASE PRICING C O M M I T M E N T j PARTICIPATION RATE 6/ J" ALL C & I LOANS 12, 774,027 8, 107 * 9.03 0. 08 8 . 7 1 - 9 .21 51.4 13.6 FED FUNDS ONE MONTH A N D UNDER (EXCL O V E R N I G H T ) -FIXED RATE -FLOATING RATE 6, 547,458 4, 2 0 8 , 3 8 2 2, 339,077 4, 368 5, 562 3, 151 17 17 16 9.40 9.34 9.51 0. 17 0. 18 0. 27 8.79-9 .57 8.80-9 .60 8.73-9 .50 87.5 82.8 95.8 11.6 15.4 4.7 DOMESTIC DOMESTIC DOMESTIC OVER ONE MONTH A N D UNDER A YEAR -FIXED RATE -FLOATING RATE 6, 873,909 3, 963,118 2, 910,791 1, 105 2, 936 598 107 82 142 9.72 9.52 10.01 0. 15 0. 17 0. 30 8 . 7 2 - 1 0 .52 8 . 6 9 - 1 0 .06 8.86-11 .07 91.3 88.1 95.7 10.8 12.7 8.3 FOREIGN FOREIGN PRIME DEMAND 8/ -FIXED RATE -FLOATING RATE 6, 579,448 1, 3 3 2 , 7 4 2 5, 246,707 361 1, 005 310 X X X 10.11 9.23 10.34 0. 21 0. 09 0. 22 8.89-11 .02 8.56-9 .72 9.11-11 .08 71.4 78.2 69.7 9.3 25.6 5.1 PRIME DOMESTIC PRIME OVERNIGHT 7/ TOTAL UNDER ONE YEAR -FIXED RATE BY SIZE ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500-999 1000+ -FLOATING RATE BY SIZE ( $ 1 , 0 0 0 ) 1-24 25-49 50-99 100-499 500-999 1000+ 32, 7 7 4 , 8 4 2 1, 190 33 9.47 0. 10 8.73-9.91 71.0 11.8 FED FUNDS 22, 278,268 8,360 8,267 17,922 156,534 234,613 21, 8 5 2 , 5 7 2 4, 449 10 33 66 238 684 8, 252 20 127 89 93 50 48 19 9.19 11.34 11.18 11.02 10.21 9.79 9.17 0. 10 0. 40 0. 45 0. 14 0. 11 0. 09 0. 10 8.71-9..38 10.52-12..00 10.68-12..00 10.48-11, 50 9.27-11. 00 8.97-10.,54 8.71-9. 35 65.4 28.1 38.3 58.2 66.2 75.1 65.4 14.5 0.8 0.5 1.0 4.9 9.7 14.7 FED FUNDS PRIME PRIME PRIME PRIME OTHER FED FUNDS 10, 4 9 6 , 5 7 4 85,556 123,023 238,072 1, 073,783 644,368 8, 3 3 1 , 7 7 3 466 11 34 67 202 661 5, 904 86 169 165 157 177 172 74 10.06 11.72 11.63 11.51 11.16 10.89 9.77 0. 23 0. 14 0. 07 0. 06 0. 04 0. 04 0. 22 8.91-11. 02 11.02-12.40 11.02-12. 19 10.75-12. 13 10.47-11.63 10.47-11. 57 8.81-10. 52 82.7 84.8 89.8 90.9 91.3 91.1 80.6 5.9 0.7 1.3 1.7 3.6 7.3 6.3 PRIME PRIME PRIME PRIME PRIME PRIME PRIME 2,892,992 773 45 10.44 0.22 9.32-11.42 86.1 6.7 PRIME 739,598 12,383 20,326 32,874 674,015 735 17 218 703 5, ,213 44 40 67 39 44 9.63 ,11.60 10.66 10.39 9.53 0.22 0.24 0.33 0.43 0.26 8.77-10.61 10.75-12.40 9.56-12.13 9.00-11.50 8.75-10.47 78.5 17.4 76.8 95.2 78.9 0.4 8.2 FOREIGN NONE NONE OTHER FOREIGN 2,153,395 35,474 243,027 164,740 1,710,154 786 36 227 668 3, 901 46 37 38 46 47 10.71 11.80 11.24 11.06 10.58 0.29 0.14 0.11 0.20 0.36 10.25-11.57 11.02-12.25 10.47-11.99 10.47-11.57 9.99-11.46 88.7 86.3 87.1 89.7 88.9 8.9 5.5 9.0 11.9 8.7 I TOTAL ONE YEAR A N D OVER -FIXED RATE BY S I Z E ($1,000) 1-99 100-499 500-999 1000+ -FLOATING RATE BY S I Z E ($1,000) 1-99 100-499 500-999 1000+ 1 MONTHS DAYS 7/ 1 LOAN RATE (PERCENT> | 1 EFFECTIVE | i 2. LOANS M A D E BELOW P R I M E 11/ OVERNIGHT | 3/ I NOMINAL i 0.0 3.6 0.0 PRIME RATE 10/ 12 ,169,369 9,272 X 8. 95 8.57 10 .00 50 .5 14 .3 ONE MONTH A N D UNDER (EXCL O V E R N I G H T ) 5 ,560,725 7,360 15 9. 05 8.67 10 .00 86 .2 11.7 OVER ONE M O N T H A N D UNDER A Y E A R 4 ,663,150 3,977 97 9. 05 8.71 10 .00 90 .4 10 .2 DEMAND 2 ,991,314 2,946 X 8. 90 8.63 10 .01 53 .4 13 .2 25 ,384,557 20,,054,172 5,,330,385 5,965 6,605 4,370 25 18 62 8. 98 8. 98 9. 01 8.63 8.62 8.67 10 .00 10 .00 10 .01 66,,0 63..3 76. 3 12 .9 15..3 3 .6 1, 020,291 483,147 537,144 2,629 2,084 3,437 9. 07 8. 86 9. 26 8.77 8.64 8.89 10 .00 10 .00 10 .00 80. 6 75. 6 82. 3 8.0 3.2 12.2 8/ TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE TOTAL ONE YEAR A N D OVER -FIXED RATE -FLOATING R A T E SEE LAST PAGE FOR FOOTNOTES ! MONTHS 39 39 39 ! PRIME PRIME PRIME PRIME PRIME ' SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 6-10, 1990 COMMERCIAL AND INDUSTRIAL LOANS M A D E BY OTHER BANKS 1/ LOAN CHARACTERISTICS AMOUNT OF LOANS ($1,000) AVERAGE SIZE WEIGHTED AVERAGE INTERQUARTILE RANGE 5/ W E I G H T E D | F AVERAGE |STANDARD| I (§1,000) MATURITY EFFECTIVE I ERROR 2/ -!- DAYS I MOSTr I COMMON I I BASE I IPRICINGI I RATE I COMMITMENT j PARTICIPATION PERCENTAGE OF AMOUNT OF LOANS MADE UNDER: LOAN RATE (PERCENT) I 6/ 1. ALL C & I LOANS 1, 331, 318 2, 726 X 9.03 0.11 8.73-9.31 97.6 0.3 ONE MONTH AND UNDER (EXCL OVERNIGHT) -FIXED RATE -FLOATING RATE 2, 333, 181 1, 673, 844 659, 336 367 479 231 19 18 22 9.54 9.14 10.54 0.23 0.29 0.18 8.69-10.48 8.58-9.34 10.47-10.52 90.3 88.5 94.9 19.8 8.0 49.7 OVER ONE MONTH AND UNDER A YEAR -FIXED RATE -FLOATING RATE 4, 27 31 168 1, 597,,341 2, 675,,826 71 61 79 179 149 198 10.80 10.19 11.16 0.17 0.27 0.17 9.64-11.63 8.71-11.52 10.47-11.85 69.2 65.3 71.5 13.6 14.8 12.9 PRIME OTHER PRIME DEMAND 8/ -FIXED RATE -FLOATING RATE 4, 772,,855 975,,012 3,.797,,843 119 229 106 X X X 10.81 9.65 11.10 0.17 0.16 0.15 10.24-11.63 8.98-10.24 10.47-11.85 88.6 92.2 93.2 7.1 17.3 4.4 PRIME OTHER PRIME 12,,710,,522 119 102 10.38 0.14 9.03-11.57 84.7 10.9 PRIME 5,.577,,516 200 ,241 101 ,931 104 ,602 328 ,560 261 ,436 ,580 ,746 4j 162 7 35 63 177 619 5 ,095 59 119 111 107 94 96 49 9.50 12.25 12.50 11.66 10.67 10.19 9.14 0.15 0.19 0.13 0.15 0.17 0.37 0.09 8.70-9.91 11.41-13.10 11.74-13.30 10.88-12.41 10.38-11.52 9.16-11.02 8.67-9.38 84.0 9.8 0.9 0.0 0.8 2.6 4.0 11.4 OTHER OTHER PRIME PRIME PRIME OTHER OTHER ,006 369 ,115 389 ,722 610 ,328 2 ,229 ,757 903 ,453 2 ,630 ,631 98 10 34 67 203 668 2 ,774 163 158 183 179 186 169 139 11.07 12.19 11.81 11.69 11.49 11.17 10.28 0.13 0.05 0.03 0.04 0.07 0.06 .0.14 10.47-11.66 11.57-12.75 li 30-12.40 11.02-12.19 10.79-12.13 10.47-11.73 9.52-11.02 85.2 72.9 74.8 85.4 85.3 84.4 11.8 88.6 2.1 1.2 5.2 7.8 7.6 21.1 PRIME PRIME PRIME PRIME PRIME PRIME PRIME L ,690,,109 114 37 11.21 0.29 10 47-12.19 44.3 7.3 PRIME 543,,383 102,,625 144,,775 14,,478 281,,506 78 17 181 583 4,958 39 49 41 49 34 11.24 12.22 11.75 10.50 10.67 0.31 0.21 0.25 0.78 0.55 10.29-11.91 11.07-12.75 11.07-12.47 10.52-11.18 9.71-11.63 49.1 20.4 24.1 88.2 70.5 8.6 13.5 1.1 OTHER PRIME OTHER OTHER OTHER 1,,146,,726 142,,478 286, 470 143,.927 573,,850 147 24 211 699 2,640 36 46 41 38 31 11.19 12.15 11.43 11.36 10.80 0.37 0.10 0.12 0.19 0.67 10.52-12.28 11.57-12.68 11.02-12.13 10.52-12.13 9.73-12.68 42.0 48.9 65.0 55.0 25.5 6.6 4.8 9.7 6.9 5.5 PRIME PRIME PRIME PRIME 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+ 7; ,133 j 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 1 7/ 34.0 34.4 39.7 76.7 92.3 DAYS LOAN RATE (PERCENT) | 1 EFFECTIVE I NOMINAL | 9/ ! 3/ 0.2 28.8 1 PRIME | RATE | 10/ | 1,,277, 344 5,,747 X 8.96 8.58 10.00 97 .5 0 .0 ONE MONTH AND UNDER (EXCL OVERNIGHT) 1,,709, 516 2,,065 18 9.00 8.63 10.01 91,.9 8,.0 OVER ONE MONTH AND UNDER A YEAR 1,,573, 176 206 194 9.35 9.00 10.35 78..5 22, 9 DEMAND 8/ 1,,356, 793 533 X 9.31 8.92 10.18 98 .0 , 16 , .5 TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE 5i,916, 829 4,,604, 787 1,,312, 042 527 736 264 74 52 183 9.16 9.04 9.56 8.78 8.68 9.17 10.14 10.05 10.45 91,.0 91,.4 89,.3 12. 2 11,.0 16 , ,3 349, 270 148, 859 200, 411 440 287 728 8.98 9.65 8.48 8.62 9.25 8.15 10.27 10.09 10.41 41,.1 .8 41 , 40 .5 , 4,.3 2 ,0 6,,0 TOTAL ONE YEAR AND OVER -FIXED RATE -FLOATING RATE SEE LAST PAGE FOR FOOTNOTES ! MONTHS 37 40 34 PRIME DOMESTIC PRIME j 2. LOANS MADE BELOW PRIME 11/ OVERNIGHT 28.6 FED FUNDS 1 I 1 'fable 4 LOANS TO FARMERS $lzs class of lo#n# (thoussnds) $1-9 ALL BANKS Amount of loans (thousands) Number of loane Weighted average maturity (months)' 3 Weighted average Intereat rate (°/e) Standard error4 Interquartile range* By purpoee of loan: Feeder llveatock Other llveatock Other current operating expenses Farm machinery and equipment Farm real eetate Other Percentage of amount of loane: With floating ratea Made under commitment By purpoee of loan: Feeder livestock Other livestock Other current operating expeneee Farm machinery and equipment Farm real eetate Other lARGJE-FARM LENDERS 12 Amount of loane (thousands) Number of loane Weighted average maturity (months)8 Weighted average Intereet rate (%)' Standard error4 Interquertlle range* By purpoee of loan: Feeder llveetook Other llveetook Other current operating expeneee Farm maohlnery and equipment Farm reel eetate Other Peroentege of amount of loane: With floetlng ratee Made under commitment By purpoee of loan: Feeder llveetook Other llveetook Other current operating expeneee Farm machinery and equipment Farm real eetate 0*er OTHER BANKS18 Amount ef loane(thoueande) Number of loane Weighted average maturity (monthe)8 Weighted average Intereet rate (%)' Standard error4 Interquartile range* By purpoee of loen: Feeder llveetook Other llveetook Other current operating expeneee Farm machinery and equipment Farm real eetate Other Percentage of amount of loane: With floating ratea Made under commitment By purpoee of loan: Feeder llveetook Other llveetook Other current operating expeneee Farm machinery and equipment Farm real eetate Other See lest page for notes to tables •Fewer than 10 eemple loane $1,606,33J 51,734 6.6 *118,640 34,246 6. 8 $160 end ever $100*349 $60-99 $10-24 $16-49 *144,270 9,868 7.8 *133,238 3,949 11.0 *123,367 1.901 8.5 *167,011 1,165 13.6 *919,807 11.80 .30 11.30-12.36 1ft. OS • 48 8.60-11.35 2.8 10.95 .31 9.44-12.19 12.56 .23 12.10-12.96 12.41 .15 1 1 . 8 3 - 1 2 . 86 12.20 .34 11.57-12.75 11.89 .29 11.19-12.64 11.49 12.37 11.17 12.43 11.61 9.79 12.82 13.09 12.48 12.69 12.84 12.38 12.41 12.72 12. 43 12.42 12.24 12.09 12.02 12.44 12.30 12.45 11.38 12.11 12.15 12.55 11.83 11.68 12.29 11.66 11.24 11.40 9-78 11.30 12.02 9.37 61.6 84.2 54.3 59.2 64.7 63.5 75.5 70.8 68.4 70.8 77.5 74.9 56.2 96.0 24.6 4.3 39.8 1.7 2.0 27.7 7.2 6.4 72.6 7.1 1.5 5.2 10.3 5.6 67.5 5.9 3.7 6.9 20.5 8.2 54.7 3.1 5.2 8.3 27.6 8.5 46.1 27.8 13.4 37.4 28. 6 1.0 2S.6 e 14. 1 16.6 40.4 *1.070,693 9.680 3.7 *18,727 5,055 6.2 *29,076 1,996 7.7 *36,866 1,071 6.8 *47,096 704 7.1 *92,996 618 • 6.5 *845.933 436 2.7 10.30 .25 S. 6 0 - 1 1 . 6 3 12.24 .19 11.63 12.75 11.90 .07 11. 3 5 - 1 2 . 4 7 11.72 .23 11.SS-12.19 11.59 .10 11.02-12.19 11.48 .09 11.00-11.94 9.?4 .34 8.60-11.09 11.29 11.49 1.0.21 12.21 11.56 9.69 12,21 12.06 12.25 13.07 12.30 12.12 11.82 12.07 11.93 12.04 11.35 1 1 . 86 11.75 11.70 11.70 11.63 11.64 11.53 11.43 11.22 11. 40 9.47 11.72 11.59 11.62 9.25 60.3 93.5 87.9 83.2 89.9 83.7 92.4 89.5 88.2 81.S 90.4 86.5 52.4 95.7 28*7 1.7 31.2 •J 1.3 36.9 8.6 3.8 70.5 2.1 1.2 13.9 13.2 2.5 59.5 3.1 1.5 20.1 24.5 3.0 56.0 31.9 3.0 42.9 31.2 13.0 28.8 17.4 29.4 1.1 26.0 e e 42.1 *535,6*0 41,854 10.2 *99,913 29,191 6.9 *115,194 7,872 7.8 *96,372 2,878 12.1 *76,271 1,197 9.1 *74.016 547 20.9 # # 12.24 .17 11.63-12.75 12.62 .12 12.18-13.03 12.54 .12 12. 0 4 - 1 3 . 0 3 12.38 .24 11.63-12.97 12.08 .26 11.40-12.87 12.20 .28 1 1 . 7 5 - 1 2 . 48 e 12.23 12.68 12.21 12.46 11.65 12.16 12.97 13.20 12.52 12.67 12.92 12.57 12.62 12.78 12.54 12.46 12.33 12. 16 12.52 12. 54 12.57 64.2 65.5 48.0 54.7 58.3 58.5 69. 1 63.6 56.2 63.9 16.3 9.5 57.1 4.6 3.1 9.2 7.0 6.8 73.0 8. 1 1.5 3.6 9.6 6.4 69.6 6.7 4.3 18.9 10.2 54.2 24.9 $ $ # # # # * • • $ $ # $ $ $ # $ $ # # $ $ # * • 11.42 $ # ' # ' 65.1 $ $ e # # # $ » e # $ 6 $ * # • e e e $ $ * $ $ $ # 12.00 $ 48.1 $ $ $ 61.3 60.4 $ # $ $ $ $ # $ $ $ • * $ $ 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 sample of 250 banks reports 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. Mortgage loans, foreign loans, and loans of less than $1,000 are excluded from the survey. Beginning in 1986, the survey of terms of bank lending to farmers includes loans secured by farm real estate. In addition, the categories describing the purpose of farm loans were expanded to include "purchase or improve farm real estate." In previous surveys, the purpose of such loans was reported as "other. 1. As of December 31, 1989, assets of most of the large banks were at least $7.0 billion. For all insured banks, total assets averaged $250 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 loans and weighted by loan size. 10. The 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 4), most "large banks" (survey strata 1 and 2) had over $20 million in farm loans, most "other banks" (survey strata 3 to 5) had farm loans below $20 million.
@FedFRASER