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ov c o i FEDERAL RESERVE statistical For Immediate Release September 20,1991 E.2A SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 5-9,1991 Loans to farmers all sizes ALL Amount of loans (thousands) Number of loans Weighted average maturity (months)' 4 5 6 Weighted average interest rate (percent) 2 Standard error 3 Interquartile range 4 By purpose of loan Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other 13 14 15 16 17 18 19 20 Percentage of the 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 FARM Amount of loans (thousands) Number of loans Weighted average maturity (months)' 24 25 26 Weighted average interest rate (percent) 2 Standard error 3 Interquartile range 4 By purpose of loan Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other 33 34 35 36 37 38 39 40 Percentage of the 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 Amount of loans (thousands) Number of loans Weighted average maturity (months) 1 44 45 46 Weighted average interest rate (percent) 2 Standard error 3 Interquartile range 4 By purpose of loan Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other 53 54 55 56 57 58 59 60 1,318,278 52,847 9.1 123,104 34,766 7.6 152,511 10,391 8.3 124,716 3,773 10.6 140,423 2,159 10.5 154,747 1,095 8.0 622,778 663 9.5 10.16 0.26 9 . 0 0 - 11.07 11.54 0.09 10.90 - 12.19 11.18 0.07 10.50 - 11.95 10.88 0.12 9.96 - 11.63 10.69 0.12 9.79 - 11.56 10.50 0.13 9.31 - 11.91 9.28 0.38 8.50 - 10.52 10.28 11.12 10.46 11.01 10.41 8.98 10.81 12.07 11.56 12.04 11.34 11.25 11.08 11.72 11.26 11.16 10.35 10.66 11.03 11.17 10.76 11.17 10.82 10.54 10.72 11.65 10.54 11.58 10.21 10.49 9.55 11.58 10.96 12.07 10.35 10.01 10.21 10.18 8.93 7.78 9.91 8.47 75.1 77.7 55.5 58.7 62.2 58.9 59.8 53.1 76.3 68.5 84.1 76.8 82.7 93.4 25.7 7.2 38.2 4.2 2.5 22.1 8.8 6.8 70.0 6.4 2.4 5.6 11.1 6.6 627 8.7 4.5 6.4 19.6 11.6 44.0 10.2 4.4 10.2 16.9 9.3 51.9 4.3 5.7 11.9 27.9 11.3 33.5 5.5 2.3 19.5 35.4 5.2 22.8 1.2 0.9 34.6 763,041 11,418 7.8 22.157 5,766 7.3 38,444 2,551 8.1 40,441 1,178 13.8 60,266 917 10.4 87,982 593 6.8 513,751 413 6.7 9.44 0.33 8.50 - 10.75 10.66 0.13 10.47 - 12.10 10.33 0.11 10.00 - 11.21 10.12 0.14 9.69 - 11.00 10.21 0.22 9.42 - 10.69 9.78 0.16 9.50 - 10.75 9.12 0.34 9.11 - 10.44 10.08 9.94 9.45 11.27 10.15 8.58 10.39 10.60 10.73 11.76 10.56 10.37 10.16 10.64 10.41 10.68 10.30 10.03 9.95 10.61 10.15 10.98 10.21 9.77 10.25 10.16 10.13 11.80 10.16 9.31 8.60 10.00 9.51 10.21 9.88 11.17 10.35 9.73 83.3 94.0 87.7 80.4 88.5 81.5 90.8 80.7 88.7 82.5 97.3 94.1 79.0 97.9 34.9 2.9 25.5 1.2 2.7 32.9 12.0 3.7 66.1 2.5 3.1 12.6 11.0 4.3 56.7 3.8 8.3 15.8 24.6 6.7 40.8 6.1 4.9 16.9 22.7 5.3 38.1 4.6 8.9 20.4 38.7 5.3 30.9 2.4 4.1 18.6 39.3 1.7 17.7 1.1 40.2 555,238 41,429 9.9 100,946 29,001 7.6 114,068 7,839 8.4 84,274 2,595 9.7 80,157 1,242 10.5 66,765 503 8.8 109,027 250 18.9 11.14 0.14 8.23 - 11.02 11.73 0.09 11.14 - 12.31 11.47 0.05 10.87 - 12.19 11.25 0.14 10.74 - 1 1 . 8 7 11.06 0.26 9.80 -11.86 11.45 0.26 10.52 - 12.19 10.05 0.17 9.42 - 10.52 11.01 11.47 11.10 10.96 10.86 11.40 10.94 12.23 11.73 12.06 11.58 11.85 11.38 11.94 11.51 11.22 10.41 11.67 11.77 11.30 11.02 11.21 11.16 11.44 11.35 12.13 10.73 11.38 10.46 11.85 9.69 12.08 12.16 12.37 10.66 10.52 9.51 7.79 10.33 12.47 63.9 55.4 48.4 53.9 53.4 51.2 44.9 39.9 66.9 58.1 66.8 54.0 100.0 71.7 13.1 13.3 55.6 84 2.2 7.4 8.1 7.5 70.8 7.3 2.3 4.0 11.1 7.4 64.7 10.3 3.2 3.3 17.2 14.0 45.5 12.2 4.2 6.9 12.5 12.3 62.2 4.0 3.3 5.6 13.5 19.2 370 9.6 16.8 21.3 46.5 7.0 20.7 8.5 10.09 - 9.91 8.30 BANKS5 41 42 43 47 48 49 50 51 52 $250 and over LENDERS5 21 22 23 27 28 29 30 31 32 $100-249 BANKS 1 2 3 7 8 9 10 11 12 Size class of loans (thousands) $25-49 $50-99 $10-24 $1-9 Percentage of the 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 NOTES The Survey of Terms of Bank Lending to Farmers collects data on gross loan extensions made during the first full business week in the mid-month of each quarter by a sample of 250 banks of all sizes. The sample data are blown up to estimate the lending terms at all insured agricultural 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. Loans of less than $1,000 are excluded from the survey. Beginning with the August 1986 survey, loans secured by farm real estate are included In the survey, and one purpose of a loan may be "purchase or improve farm real estate". In previous surveys, the purpose of such loans are reported as "other". 1. Average maturities are weighted by loan size and exclude demand loans. 2. Effective (compounded) annual interest rates are calculated from the stated rate and other terms of the loans and weighted by loan size. 3. The chances are about two out of three 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. 4. The interquartile range shows the interest rate range that encompasses the middle 50 percent of the total dollar amount of loans made. 5. Among banks reporting loans to farmers, 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. NOTE: THIS RELEASE, THE E.2A, FORMERLY WAS TABLE 5 OF THE E.2. YOU MAY EITHER SWITCH YOUR SUBSCRIPTION FROM THE E.2 TO THE E.2A, OR YOU MAY SUBSCRIBE TO BOTH BY CONTACTING PUBLICATION SERVICES, MAIL STOP 138; FEDERAL RESERVE BOARD; WASHINGTON, D C. 20551. IF YOU DO NEITHER OF THESE, YOU WILL NOT RECEIVE THE E.2A AFTER 1991-Q3. FEDERAL RESERVE statisticlfffi^e SEP 2 4 For Immediate Release September 20,1991 E.2A SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 5-9,1991 Loans to farmers Size class of loans (thousands) all s i z e s $10-24 $1-9 $25-49 $50-99 $100-249 $250 a n d over ALL B A N K S Amount of loans (thousands) Number of loans Weighted average maturity (months) 1 Weighted average interest rate (percent) 2 Standard error 3 Interquartile range 4 By purpose of loan Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other Percentage of the 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 FARM 123,104 34,766 7.6 152.511 10,391 8.3 124,716 3,773 10.6 140,423 2,159 10.5 154.747 1,095 8.0 622,778 663 9.5 10.16 0.26 9 . 0 0 - 11.07 11.54 0.09 10.90- 12.19 11.18 0.07 10.50 - 11.95 10.88 0.12 9.96 - 11.63 10.69 0.12 9.79 - 11.56 10.50 0.13 9.31 - 11.91 9.28 0.38 8.50 - 10.52 10.28 11.12 10.46 11.01 10.41 8.98 10.81 12.07 11.56 12.04 11.34 11.25 11.08 11.72 11.26 11.16 10.35 10.66 11.03 11.17 10.76 11.17 10.82 10.54 10.72 11.65 10.54 11.58 10.21 10.49 9.55 11.58 10.96 12.07 10.35 10.01 10.21 10.18 8.93 7.78 9.91 8.47 75.1 77.7 55.5 58.7 62.2 58.9 59.8 53.1 76.3 68.5 84.1 76.8 82.7 93.4 25.7 7.2 38.2 4.2 2.5 22.1 8.8 6.8 70.0 6.4 2.4 5.6 11.1 6.6 62.7 8.7 4.5 6.4 19.6 11.6 44.0 10.2 4.4 10.2 16.9 9.3 51.9 4.3 5.7 11.9 27.9 11.3 33.5 5.5 2.3 19.5 35.4 5.2 22.8 1.2 0.9 34.6 763,041 11,418 7.8 22.157 5,766 7.3 38,444 2,551 8.1 40.441 1,178 13.8 60,266 917 10.4 87,982 593 6.8 513,751 413 6.7 9.44 0.33 8.50 - 10.75 10.66 0.13 10.47 - 12.10 10.33 0.11 10.00 - 11.21 10.12 0.14 9.69 - 11.00 10.21 0.22 9.42 - 10.69 9.78 0.16 9.50 - 10.75 9.12 0.34 9.11 - 10.44 10.08 9.94 9.45 11.27 10.15 8.58 10.39 10.60 10.73 11.76 10.56 10.37 10.16 10.64 10.41 10.68 10.30 10.03 9.95 10.61 10.15 10.98 10.21 9.77 10.25 10.16 10.13 11.80 10.09 10.00 9.51 10.21 9.88 11.17 10.35 9.73 10.16 9.31 8.60 83.3 94.0 87.7 80.4 88.5 81.5 90.8 80.7 88.7 82.5 97.3 94.1 79.0 97.9 34.9 2.9 25.5 1.2 2.7 32.9 12.0 3.7 66.1 2.5 3.1 12.6 11.0 4.3 56.7 3.8 8.3 15.8 24.6 6.7 40.8 6.1 4.9 16.9 22.7 5.3 38.1 4.6 8.9 20.4 38.7 5.3 30.9 2.4 4.1 18.6 39.3 1.7 17.7 1.1 40.2 555,238 41,429 9.9 100,946 29,001 7.6 114,068 7,839 8.4 84.274 2,595 9.7 80,157 1,242 10.5 66,765 503 8.8 109,027 250 18.9 11.14 0.14 8.23 - 11.02 11.73 0.09 11.14 - 12.31 11.47 0.05 10.87 - 12.19 11.25 0.14 10.74 - 1 1 . 8 7 11.06 0.26 9.80 -11.86 11.45 0.26 10.52 - 12.19 10.05 0.17 9.42 - 10.52 11.01 11.47 11.10 10.96 10.86 11.40 10.94 12.23 11.73 12.06 11.58 11.85 11.38 11.94 11.51 11.22 10.41 11.67 11.77 11.30 11.02 11.21 11.16 11.44 11.35 12.13 10.73 11.38 10.46 11.85 9.69 12.08 12.16 12.37 10.66 10.52 9.51 7.79 10.33 12.47 63.9 55.4 48.4 53.9 53.4 51.2 44.9 39.9 66.9 58.1 66.8 54.0 100.0 71.7 13.1 13.3 55.6 8.4 2.2 7.4 8.1 7.5 70.8 7.3 2.3 4.0 11.1 7.4 64.7 10.3 3.2 3.3 17.2 14.0 45.5 12.2 4.2 6.9 12.5 12.3 62.2 4.0 3.3 5.6 13.5 19.2 37.0 9.6 16.8 21.3 46.5 7.0 20.7 8.5 LENDERS5 Amount of loans (thousands) Number of loans Weighted average maturity (months) 1 Weighted average interest rate (percent) 2 Standard error 3 Interquartile range 4 By purpose of loan Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other Percentage of the 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 1,318.278 52,847 9.1 9.91 8.30 BANKS5 Amount of loans (thousands) Number of loans Weighted average maturity (months)' Weighted average interest rate (percent) 2 Standard error 3 Interquartile range 4 By purpose of loan Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other Percentage of the 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 NOTES The Survey of Terms of Bank Lending to Farmers collects data on gross loan extensions made during the first full business week in the mid-month of each quarter by a sample of 250 banks of all sizes. The sample data are blown up to estimate the lending terms at all Insured agricultural 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. Loans of less than $1,000 are excluded from the survey. Beginning with the August 1986 survey, loans secured by farm real estate are included in the survey, and one purpose of a loan may be "purchase or improve farm real estate". In previous surveys, the purpose of such loans are reported as "other". 1. Average maturities are weighted by loan size and exclude demand loans. 2. Effective (compounded) annual interest rates are calculated from the stated rate and other terms of the loans and weighted by loan size. 3. The chances are about two out of three 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. 4. The interquartile range shows the interest rate range that encompasses the middle 50 percent of the total dollar amount of loans made. 5. Among banks reporting loans to farmers, 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. NOTE: THIS RELEASE, THE E.2A, FORMERLY WAS TABLE 5 OF THE E.2. YOU MAY EITHER SWITCH YOUR SUBSCRIPTION FROM THE E.2 TO THE E.2A, OR YOU MAY SUBSCRIBE TO BOTH BY CONTACTING PUBLICATION SERVICES, MAIL STOP 138; FEDERAL RESERVE BOARD; WASHINGTON, D C. 20551. IF YOU DO NEITHER OF THESE, YOU WILL NOT RECEIVE THE E.2A AFTER 1991-Q3.
