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•pOFCOw FEDERAL RESERVE stati SEP 2 fi I992 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 3-7,1992 TABLE 1 Commercial and Industrial loans made by all commercial banks1 Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) Weighted Average Maturity2 Weighted Average Effective3 For Immediate Release September 21,1992 Percent of Amount of Loans Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight6 8,805,409 6,526 - 4.03 0.22 7.0 56.2 8.1 Fed Funds One month and under 2 (excluding overnight) 3 Fixed rate 4 Floating rate 7,062,069 5,521,672 1,540,397 965 1,630 392 15 15 16 4.56 4.37 5.22 0.19 0.30 0.22 30.0 22.2 57.7 68.7 64.7 83.4 10.3 8.3 17.3 Domestic Domestic Prime Over one month and 5 under one year 6 Fixed rate 7 Floating rate 9,004,833 3,813,018 5,191,815 145 144 146 149 112 176 5.65 5.25 5.94 0.18 0.29 0.22 56.6 43.9 65.9 79.1 74.0 82.8 10.2 9.0 11.1 Prime Foreign Prime 8 Demand 7 9 Fixed rate 10 Floating rate 14,461,854 3,026,128 11,435,726 304 780 261 5.75 4.60 6.05 0.17 0.28 0.16 66.1 32.0 75.1 63.6 64.6 63.4 17.1 54.4 7.2 Prime Foreign Prime 11 Total under one year Fixed rate By size ($1,000) 1-99 100- 499 500-999 1000-4999 5000-9999 10000 + Floating rate 19 By size ($1,000) 20 1-99 21 100- 499 22 500 - 999 23 1000-4999 24 5000 - 9999 25 10000 + 39,334,165 332 59 5.13 0.18 44.2 66.4 12.3 Prime 21,166,228 423,655 431,936 325,658 3,801,772 3,463,216 12,719,990 603 14 219 681 2,240 6,823 19,930 29 124 144 74 44 21 19 4.42 8.94 6.39 5.16 4.61 4.38 4.14 0.29 0.10 0.48 0.07 0.09 0.14 0.15 21.2 78.1 57.9 36.4 27.1 18.0 16.8 62.8 38.7 51.8 77.1 71.0 74.0 58.1 15.0 3.0 2.9 8.3 9.0 12.1 18.5 Other Prime Prime Other Other Other Fed Funds 18,167,938 1,571,817 3,061,555 1,588,721 3,748,167 1,676,787 6,520,891 218 25 198 652 1,915 6,971 27,004 139 179 194 219 152 130 75 5.95 7.48 7.01 6.75 6.51 5.62 4.65 0.18 0.04 0.07 0.07 0.33 0.31 0.18 71.0 80.7 76.5 65.3 58.8 53.6 79.0 70.6 84.7 88.1 90.5 82.2 72.6 47.0 9.2 1.8 6.3 8.5 9.5 10.5 11.9 Prime Prime Prime Prime Prime Prime Fed Funds 12 13 14 15 16 17 18 - Months 26 Total one year and over Fixed rate 27 By size ($1,000) 28 1-99 29 100-499 30 500 - 999 31 1000 + Floating rate 32 By size ($1,000) 33 1-99 34 100- 499 35 500 - 999 36 1000 + Loans made below prime 197 45 6.50 0.21 62.2 64.8 5.3 1,249,763 153,450 153,177 59,991 883,145 113 16 158 694 5,381 48 39 56 34 49 6.28 9.41 8.57 7.89 5.23 0.38 0.16 0.30 0.70 0.32 50.3 87.6 80.8 80.0 36.6 51.9 17.4 30.9 37.2 62.5 2.9 0.5 2.4 10.9 2.9 Other Other Prime Other Foreign 2,936,509 178,510 503,956 324,709 1,929,333 289 26 212 664 3,793 44 45 41 40 45 6.60 7.71 7.68 6.71 6.19 0.18 0.10 0.36 0.14 0.31 67.3 85.3 70.0 77.3 63.3 70.3 61.1 60.9 59.4 75.4 6.3 1.8 6.3 10.0 6.2 Prime Prime Prime Prime Prime I 10 37 Overnight6 38 4,186,272 One month and under (excluding overnight) Prime Rated Nominal 8 Days Prime 8,708,929 8,296 - 4.00 3.98 6.7 56.1 8.0 6.00 6,346,375 4,663 14 4.26 4.22 26.4 68.1 11.0 6.01 119 4.43 4.40 43.3 82.8 14.3 6.12 4.15 60.9 39.7 28.5 6.02 Over one month and 39 under one year 5,085,223 657 40 Demand 7 6,837,763 3,089 - 4.20 26,978,289 19,369,635 7,608,654 2,181 3,438 1,130 35 23 97 4.19 4.14 4.32 4.16 4.11 4.27 32.0 17.3 69.4 59.8 62.7 52.5 15.1 16.0 12.7 6.03 6.01 6.08 1,392,863 720,980 671,883 623 549 728 4.67 4.69 4.64 4.61 4.64 4.57 32.1 29.9 34.5 77.8 63.9 92.6 3.0 1.4 4.8 6.12 6.14 6.11 41 Total under one year 42 Fixed rate 43 Floating rate Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 42 41 44 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 3-7,1992 TABLE 2 Commercial and Industrial loans made by large banks1 Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) Weighted Average Maturity2 Weighted Average Effective3 Percent of Amount of Loans Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight6 6,688,354 8,304 - 4.07 0.15 9.2 50.9 10.6 Fed Funds 5,537,544 4,293,395 1,244,150 4,083 6,283 1,849 14 14 15 4.47 4.37 4.81 0.15 0.20 0.20 31.6 24.9 54.9 75.1 73.1 82.0 8.6 5.0 20.9 Domestic Domestic Prime 4,884,831 2,410,385 2,474,446 860 2,127 544 124 103 145 5.17 4.93 5.40 0.14 0.19 0.18 55.3 44.6 65.7 86.6 83.0 90.1 12.7 7.5 17.8 Foreign Foreign Prime 8 Demand 7 9 Fixed rate 10 Floating rate 10,356,312 2,580,053 7,776,259 586 2,258 470 5.32 4.54 5.58 0.15 0.25 0.14 64.7 33.3 75.2 54.6 60.3 52.7 17.8 57.8 4.6 Prime Foreign Prime 11 Total under one year Fixed rate 12 By size ($1,000) 13 1-99 14 100 - 499 15 500- 999 16 1000- 4999 17 5000-9999 18 10000 + Floating rate 19 By size ($1,000) 20 1-99 21 100-499 22 500 - 999 23 1 000 - 4999 24 5000 - 9999 25 10000 + 27,467,042 1,076 41 4.82 0.14 42.8 63.5 13.3 Fed Funds 15,972,187 21,719 24 127 60 62 43 19 19 4.36 6.82 5.54 5.12 4.67 4.41 4.22 0.19 0.48 0.29 0.17 0.12 0.16 0.15 22.6 65.3 208,422 2,734,003 2,740,246 10,136,911 4,243 26 249 699 2,276 6,845 20,353 35.6 29.4 20.6 20.7 63.2 51.7 74.1 81.8 70.5 69.7 59.0 16.3 0.0 5.5 8.9 9.6 10.9 19.8 Other Prime Prime Other Other Other Other 11,494,854 432,362 1,136,899 714,246 2,050,433 1,332,721 5,828,193 528 31 208 663 2,044 7,054 29,360 101 173 162 174 133 104 70 5.46 7.23 6.82 6.62 6.08 5.67 4.65 0.16 0.07 0.05 0.08 0.15 0.32 0.43 70.9 81.8 69.2 57.7 56.5 54.3 81.0 63.9 87.5 90.6 91.7 84.8 69.5 44.9 9.2 2.2 4.1 8.8 10.5 12.3 9.5 Prime Prime Prime Prime Prime Prime Fed Funds 2,534,725 883 44 6.02 0.22 57.8 68.5 6.3 702,366 7,118 19,213 23,007 653,029 1,433 28 208 665 5,941 45 46 43 42 45 5.25 9.64 7.86 7.09 5.06 0.44 0.39 0.54 1.13 0.36 41.4 90.2 93.6 53.5 38.9 53.6 22.3 56.2 68.2 53.3 1.6 0.0 19.0 21.7 0.4 Foreign Other Other Domestic Foreign 1,832,359 32,538 221,033 162,259 1,416,529 769 37 237 717 4,247 43 34 37 38 45 6.32 7.11 6.85 6.39 6.21 0.10 0.09 0.09 0.13 0.29 64.1 84.4 74.1 62.1 62.2 74.2 70.3 76.4 78.8 73.4 8.1 7.3 10.6 14.7 7.0 Prime Prime Prime Prime Prime 2 3 4 One month and under (excluding overnight) Fixed rate Floating rate Over one month and 5 under one year 6 Fixed rate 7 Floating rate 130,887 ~ 48.3 Months 26 Total one year and over Fixed rate 27 By size ($1,000) 28 1-99 29 100- 499 30 500 - 999 31 1000 + Floating rate 32 By size ($1,000) 33 1-99 34 100-499 35 500 - 999 36 1000 + Prime Rate 9 Nominal 8 Days Loans made below prime 10 Prime 37 Overnight6 6,601,185 8,593 ~ 4.04 4.02 8.9 50.8 10.4 6.00 One month and under 38 (excluding overnight) 5,150,794 7,113 14 4.29 4.26 29.6 75.4 8.7 6.00 '<4,664 3,456 106 4.40 4.37 46.9 87.8 15.5 6.00 4.15 4.10 65.3 31.8 26.4 6.00 29 20 75 4.19 4.17 4.21 4.16 4.15 4.17 36.0 20.0 73.9 57.3 62.2 45.7 15.3 17.3 10.8 6.00 6.00 6.00 4.55 4.51 4.59 4.49 4.46 4.52 33.2 31.7 34.8 71.9 54.7 90.4 3.1 0.8 5.5 6.00 6.00 6.00 Over one month and 39 under one year 40 Demand 7 41 Total under one year 42 Fixed rate 43 Floating rate 6,004,075 5,945 21,100,719 14,838,544 6,262,175 6,081 5,877 6,625 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 979,265 508,353 470,912 3,177 4,402 2,443 40 35 45 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 3-7,1992 TABLE 3 Commercial and Industrial loans made by other banks1 Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) Weighted Average Effective3 Made Under Standard Error 4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight6 2 3 4 Weighted Average Maturity2 Percent of Amount of Loans One month and under (excluding overnight) Fixed rate Floating rate Over one month and 5 under one year 6 Fixed rate 7 Floating rate 8 Demand 7 9 Fixed rate 10 Floating rate 11 Total under one year Fixed rate 12 By size ($1,000) 13 1-99 14 100- 499 15 500-999 16 1000-4999 17 5000- 9999 18 10000 + Floating rate 19 By size ($1,000) 20 1-99 21 100- 499 22 500 - 999 23 1000 - 4999 24 5000 - 9999 25 10000 + 2,117,055 3,892 1,524,525 1,228,278 296,247 - 3.90 0.41 0.4 72.9 0.4 Fed Funds 256 454 91 18 17 23 4.89 4.39 6.94 0.25 0.40 0.23 24.0 13.1 69.5 45.7 35.2 89.3 16.3 19.8 2.1 Fed Funds Fed Funds Prime 4,120,002 1,402,633 2,717,369 73 55 87 178 127 204 6.22 5.81 6.43 0.21 0.35 0.24 58.2 42.8 66.1 70.1 58.6 76.1 7.3 11.7 5.0 Prime Other Prime 4,105,542 446,075 3,659,467 137 163 135 - 6.83 4.94 7.06 0.23 0.45 0.21 69.5 24.2 75.0 86.4 89.1 86.1 15.2 34.5 12.8 Prime Prime Prime 11,867,124 128 98 5.85 0.20 47.4 73.1 9.9 Prime 5,194,041 401,936 301,050 117,236 1,067,769 722,970 2,583,080 166 14 208 653 2,153 6,741 18,428 43 124 166 90 46 27 17 4.62 9.06 6.76 5.23 4.45 4.27 3.83 0.32 0.10 0.53 0.29 0.27 0.19 0.12 16.9 78.8 62.1 37.8 21.3 8.1 1.6 61.5 38.0 42.1 68.6 72.1 90.2 54.7 10.9 3.1 1.8 7.2 7.4 16.9 13.2 Fed Funds Other Prime Foreign Fed Funds Foreign Fed Funds 6,673,083 1,139,454 1,924,657 874,474 1,697,734 344,065 692,699 108 23 193 644 1,779 6,666 16,120 186 180 202 243 175 221 102 6.80 7.58 7.12 6.86 7.02 5.41 4.68 0.21 0.05 0.12 0.11 0.44 0.49 0.68 71.1 80.3 80.8 71.5 61.6 50.8 62.2 82.2 83.7 86.7 89.6 79.0 84.7 64.3 9.2 1.6 7.6 8.3 8.3 3.8 31.8 Prime Prime Prime Prime Prime Prime Foreign Months 26 Total one year and over Fixed rate 27 By size ($1,000) 28 1-99 29 100-499 30 500 - 999 31 1000 + Floating rate 32 By size ($1,000) 33 1-99 34 100- 499 35 500 - 999 36 1000 + 1,651,547 90 47 7.24 0.23 69.1 59.2 3.8 Prime 547,398 146,332 133,965 36,985 230,117 52 15 153 713 4,245 52 38 57 29 61 7.60 9.40 8.68 8.38 5.70 0.40 0.14 0.31 0.98 0.94 61.8 87.5 78.9 96.5 30.0 49.6 17.2 27.3 17.9 88.4 4.6 0.5 0.0 4.2 9.8 Other Other Prime Other Domestic 1,104,150 145,972 282,923 162,450 512,804 142 25 196 618 2,927 44 47 45 42 43 7.06 7.84 8.33 7.02 6.16 0.20 0.10 0.42 0.12 0.56 72.7 85.5 66.7 92.4 66.1 63.9 59.1 48.7 40.1 81.1 3.4 0.5 2.9 5.3 3.9 Prime Prime Prime Prime Prime Days Loans made below primelO Prime Rate. 9 Nominal 8 37 Overnight6 2,107,743 7,485 - 3.88 3.83 0.0 72.8 0.4 6.00 One month and under 38 (excluding overnight) 1,195,581 1,877 17 4.12 4.06 12.5 36.4 20.7 6.03 Over one month and 39 under one year 1,740,559 257 "43 4.49 4.44 36.4 73.0 12.1 6.34 833,687 693 4.56 4.54 29.0 96.3 43.7 6.17 5,877,571 4,531,091 1,346,479 661 1,457 233 4.21 4.03 4.82 4.16 3.98 4.76 17.4 8.3 48.3 68.8 64.2 84.1 14.1 12.0 21.3 6.13 6.03 6.46 4.94 5.13 4.74 4.89 5.08 4.69 29.7 25.7 34.0 91.7 86.0 97.7 2.9 2.8 3.0 6.42 6.48 6.35 40 Demand 7 41 Total under one year 42 Fixed rate 43 Floating rate - 54 32 160 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 413,598 212,627 200,971 215 178 275 47 54 41 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. The sample data are used to estimate the terms of loans extended during that week at all insured commercial banks. 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. 1. As of September 30,1990, assets of most of the large banks were at least $7.0 billion. For all insured banks, total assets averaged $275 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 loans and weighted by loan size. 4. 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. 5. The most common base rate is that used to price the largest dollar volume of loans. Base pricing rates include prime rate (sometimes referred to as a bank's "basic" or "reference" rate); the federal funds rate; domestic money market rates other than the prime rate and federal funds rates; foreign money market rates; and other base rates not included in the foregoing classifications. 6. Overnight loans mature on the business day after they are made. 7. Demand loans have no stated date of maturity. 8. Nominal (not compounded) annual interest rates are calculated from the stated rate and other terms of the loans and weighted by loan size. 9. The prime rate reported by each bank is weighted by the volume of loans extended and then averaged. 10. The proportion of loans made at rates below the prime may vary substantially from the proportion of such loans outstanding in banks' portfolios. SPECIAL NOTE Data reported on the Survey of Terms of Bank Lending (E.2) dated May 4-8,1992, February 3-7,1992, and November 4-8,1991 have been revised. Revised versions of these releases are available from the Banking and Money Market Statistics Section, Division of Monetary Affairs, Mail Stop 81, Board of Governors of the Federal Reserve System, Washington DC, 20551. In addition, historical data hack to 1977 presented in the format of the current E.2 release are now available.
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