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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.