The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE statistical release m l re' SEP I 3 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 2-6,1993 TABLE 1 Commercial and Industrial loans made by all commercial banks1 urm; Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) Weighted Average Effective^ September 8, 1993 Percent of Amount of Loans Made Under Standard Error4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 OvernightG Weighted Average Maturity2 For Immediate Release 11,279,618 6,477 — 3.86 0.20 9.1 57.4 4.4 Fed Funds 6,064,366 4,160,189 1,904,177 892 1,349 512 16 14 21 4.10 3.96 4.40 0.21 0.34 0.25 16.5 11.8 26.7 77.0 76.6 78.0 7.0 8.3 4.2 Other Other Foreign 9,593,298 3,601,336 5,991,962 188 173 198 148 104 175 5.09 4.46 5.46 0.17 0.28 0.19 50.4 44.2 54.1 85.0 75.9 90.4 8.7 13.1 6.1 8 Demand 7 9 Fixed rate 10 Floating rate 16,069,150 5,157,956 10,911,193 335 1,138 251 - 5.23 4.12 5.76 0.18 0.29 0.18 58.6 23.1 75.4 67.6 74.7 64.2 5.9 2.8 7.4 Prime Domestic 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 1000 - 4999 24 5000 - 9999 25 10000 + 43,006,433 400 57 4.68 0.17 37.8 70.1 6.3 Prime 24,199,100 355,953 385,467 394,667 4,114,614 4,296,598 14,651,802 800 14 211 698 2,322 6,766 21,805 23 138 95 73 37 27 13 4.02 8.50 5.97 4.96 4.31 4.02 3.76 0.28 0.16 0.11 0.18 0.16 0.05 0.06 17.8 76.6 65.4 48.8 32.1 16.1 10.8 67.2 40.1 56.1 80.9 75.6 64.0 66.3 6.0 3.3 4.9 9.0 5.5 5.8 6.3 Other Other Other Other Other Other Other 18,807,332 1,461,769 2,923,905 1,357,665 4,169,373 1,899,662 6,994,959 243 25 199 671 2,071 6,833 23,002 138 194 192 197 162 101 98 5.53 7.40 6.91 6.59 6.16 5.12 4.08 0.20 0.04 0.06 0.06 0.09 0.37 0.19 63.7 82.0 78.1 64.8 64.4 43.4 58.6 73.9 85.4 91.0 86.7 83.8 77.9 55.0 6.6 1.9 4.2 6.1 15.6 5.3 3.8 5,196,203 230 44 6.09 0.16 65.3 78.0 4.2 Prime 1,240,543 156,426 146,591 107,643 829,882 109 15 216 625 3,989 52 47 45 29 58 6.21 8.59 7.36 7.75 5.36 0.30 0.22 0.31 0.50 0.49 66.1 88.0 91.9 92.1 54.0 64.7 24.7 33.1 81.0 75.7 5.3 0.0 1.8 1.3 7.5 Other Other Other Other Foreign 3,955,660 200,975 523,547 327,450 2,903,689 355 27 212 678 4,598 41 41 38 38 42 6.05 7.63 7.00 6.67 5.70 0.15 0.17 0.09 0.10 0.28 65.1 87.3 79.2 71.9 60.3 82.2 65.8 72.9 84.2 84.8 3.9 2.1 4.8 9.7 3.2 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 Prime Other Prime Prime Prime Prime Prime Prime Prime Fed Funds 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 + Days Loans made below prime 1 0 37 Overnight 6 10,929,264 8,871 One month and under 38 (excluding overnight) 5,519,433 3,262 Over one month and 39 under one year 6,179,280 968 9,314,337 3,316 31,942,314 22,838,835 9,103,479 2,636 3,554 40 Demand 7 41 Total under one year 42 Fixed rate 43 Floating rate 1,600 Nominal 8 3.77 3.75 8.2 56.2 4.6 6.00 15 3.82 3.80 12.0 76.4 7.5 6.00 115 4.04 4.02 39.3 86.9 11.4 6.07 3.95 3.92 46.4 53.7 1.6 6.01 3.88 3.83 4.02 3.86 3.81 3.98 26.0 15.2 53.2 64.9 66.8 60.1 5.5 6.2 3.9 6.02 6.01 6.03 4.43 4.40 4.45 4.38 4.38 4.38 47.1 45.4 48.0 92.6 87.5 95.1 3.3 0.6 4.5 6.09 36 21 95 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 1,900,595 615,278 1,285,317 851 391 1,943 47 57 42 6.16 6.05 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 2-6,1993 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 Effective^ Percent of Amount of Loans Made Under Standard Error4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight 6 8,054,846 7,334 — 3.95 0.17 10.1 53.9 6.1 Other 4,348,029 3,264,232 1,083,797 4,290 6,201 2,225 13 12 18 3.92 3.83 4.20 0.19 0.29 0.23 11.5 11.0 13.0 88.9 85.5 99.0 7.8 9.0 4.3 Other Other Prime 5,489,641 2,349,759 3,139,882 1,070 2,540 747 135 87 171 4.71 4.18 5.11 0.13 0.14 0.18 38.6 32.7 42.9 88.2 83.1 92.1 11.8 16.5 8.3 8 Demand 7 9 Fixed rate 10 Floating rate 11,157,833 3,870,585 7,287,248 669 3,283 470 4.86 4.01 5.30 0.16 0.20 0.19 56.8 22.1 75.2 60.6 74.6 53.1 2.1 1.9 2.3 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 + 29,050,349 1,214 4.44 0.15 33.6 68.2 5.9 Fed Funds 7.1 1.2 4.2 6.9 5.2 7.1 7.6 Other Prime Prime Domestic Other Other Other 4.1 0.8 2.7 5.0 4.8 5.9 3.8 Prime Prime Prime Prime Prime Prime Fed Funds 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 - 45 17,539,423 21,285 146,444 231,944 2,544,422 2,908,010 11,687,319 4,704 27 256 691 2,368 6,710 22,595 18 95 45 59 33 24 13 3.97 6.77 5.42 5.12 4.48 4.09 3.79 0.17 0.13 0.24 0.21 0.14 0.07 0.07 15.9 74.8 53.2 56.4 28.5 16.8 11.6 68.3 56.8 74.2 89.5 82.8 66.4 65.1 11,510,926 385,281 1,127,064 712,368 2,166,050 1,464,952 5,655,211 570 32 201 671 2,097 6,969 23,045 131 181 185 172 177 106 104 5.15 7.32 6.88 6.55 6.16 5.33 4.04 0.19 0.10 0.09 0.07 0.17 0.34 0.19 60.6 80.6 73.1 60.6 54.9 46.6 62.5 68.1 90.3 92.5 89.1 86.6 81.8 48.4 Foreign Other Prime Prime Domestic Prime 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 One month and under (excluding overnight) Over one month and 39 under one year 40 Demand 748 44 5.92 0.12 57.5 85.6 5.3 631,651 10,850 38,622 24,904 557,275 950 31 230 648 4,914 69 48 69 45 71 5.43 7.77 7.14 6.82 5.20 0.22 0.12 0.14 0.66 0.39 61.2 85.7 81.7 79.8 58.5 81.5 28.3 47.0 55.7 86.1 10.3 0.0 6.7 0.0 11.2 2,677,748 55,974 255,387 212,981 2,153,406 712 30 237 673 4,600 38 30 35 32 39 6.04 6.91 6.85 6.59 5.87 0.09 0.12 0.09 0.11 0.24 56.7 81.5 75.6 67.6 52.7 86.6 76.9 82.3 88.9 87.1 4.1 4.2 8.0 8.0 3.3 7 41 Total under one year 42 Fixed rate 43 Floating rate Foreign Prime Prime Prime Foreign Prime Prime Prime Prime Prime Prime Rate 9 Nominal 8 Days 10 37 Overnight 6 38 3,309,400 7,706,951 9,648 — 3.82 3.80 8.7 52.0 6.4 6.00 4,077,196 7,096 12 3.75 3.74 8.5 88.4 8.3 6.00 4,050,092 4,147 110 4.02 4.00 31.6 89.0 14.5 6.00 3.90 3.86 51.7 48.2 1.2 6.00 3.87 3.85 3.92 3.85 3.83 3.89 26.7 14.2 57.6 63.4 67.0 54.7 6.4 7.4 4.0 6.00 6.00 6.00 4.39 4.15 4.51 4.33 4.12 4.44 37.4 53.0 29.9 95.1 95.1 95.1 3.8 0.7 5.3 6.00 6.00 6.00 7,715,302 5,918 23,549,541 16,758,000 6,791,541 6,446 6,587 6,122 - 32 18 100 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 1,169,030 381,101 787,930 3,113 3,116 3,112 48 73 36 E.2 SURVEY OF TERMS OF BANK LENDING MADE DURING AUGUST 2-6,1993 TABLE 3 Commercial and Industrial loans made by other banks1 Loan Rate (percent) Loan Characteristics Amount of Loans ($1,000) Average Size ($1,000) 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 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 + Weighted Average Effective 3 Made Under Standard Error4 Secured by Collateral Commitment Participation Most Common Base Pricing Rate 5 Days All C&l loans 1 Overnight 6 Weighted Average Maturity2 Percent of Amount of Loans 3,224,772 5,013 1,716,337 895,957 820,380 - 3.64 0.35 6.8 66.2 0.2 Fed Funds 297 350 254 24 22 26 4.55 4.45 4.65 0.26 0.42 0.28 29.3 15.1 44.7 47.0 44.1 50.1 4.9 5.6 4.1 Foreign Other Foreign 4,103,657 1,251,577 2,852,080 89 63 110 166 135 180 5.59 4.99 5.85 0.20 0.34 0.22 66.2 65.8 66.3 80.6 62.4 88.5 4.6 6.8 3.5 Prime Other Prime 4,911,317 1,287,371 3,623,946 157 384 130 6.09 4.44 6.68 0.20 0.40 0.16 62.7 26.0 75.7 83.5 75.1 86.5 14.5 5.6 17.7 Prime Other Prime Prime 13,956,084 167 80 5.19 0.19 46.7 74.1 7.1 6,659,677 334,668 239,023 162,723 1,570,192 1,388,589 2,964,483 251 14 191 707 2,250 6,885 19,163 36 140 122 90 43 36 12 4.16 8.61 6.31 4.74 4.03 3.87 3.66 0.30 0.15 0.14 0.28 0.32 0.38 0.13 22.7 76.7 72.8 37.9 37.8 14.8 7.5 64.2 39.0 45.0 68.6 64.1 59.0 70.9 3.2 3.4 5.3 12.0 6.0 2.9 1.3 Fed Funds Other Other Other Other Fed Funds Fed Funds 7,296,406 1,076,487 1,796,841 645,297 2,003,323 434,710 1,339,748 128 23 197 671 2,044 6,413 22,825 145 196 195 214 140 92 84 6.12 7.43 6.92 6.63 6.17 4.40 4.25 0.21 0.05 0.09 0.07 0.21 0.19 0.49 68.5 82.5 81.2 69.4 74.7 32.8 42.4 83.2 83.6 90.1 84.1 80.7 64.4 82.9 10.6 2.2 5.2 7.2 27.4 3.4 3.5 Prime Prime Prime Prime Prime Foreign 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+ 1,886,803 104 43 6.37 0.20 79.1 64.8 2.3 Prime 608,891 145,576 107,968 82,740 272,607 57 15 211 618 2,881 35 47 37 24 30 7.02 8.65 7.44 8.03 5.67 0.38 0.23 0.41 0.71 0.86 71.1 88.1 95.5 95.9 44.8 47.2 24.4 28.1 88.6 54.4 0.2 0.0 0.0 1.6 0.0 Other Other Other Other Other 1,277,912 145,001 268,160 114,468 750,283 173 26 193 687 4,591 47 45 40 50 49 6.06 7.92 7.14 6.81 5.21 0.18 0.17 0.15 0.22 0.35 82.8 89.5 82.7 79.9 82.0 73.2 61.5 63.9 75.4 78.4 3.3 1.2 1.6 12.7 2.8 Prime Rate 9 Nominal 8 Days Loans made below prime 1 0 Prime Prime Prime Prime Foreign 37 Overnight 6 3,222,312 7,437 — 3.64 3.61 6.8 66.2 0.2 6.00 One month and under 38 (excluding overnight) i ,442,237 1,291 23 4.02 3.98 22.1 42.4 5.4 6.01 Over one month and 39 under one year 2,129,189 394 123 4.08 4.05 54.0 82.9 5.4 6.22 40 Demand 7 1,599,036 1,062 - 4.19 4.18 20.7 80.4 3.5 6.08 41 Total under one year 42 Fixed rate 43 Floating rate 8,392,774 6,080,835 2,311,938 992 1,566 505 44 28 87 3.92 3.78 4.29 3.89 3.76 4.25 24.0 17.9 40.1 69.0 66.5 75.8 3.1 2.9 3.6 6.07 6.05 6.13 4.50 4.82 4.35 4.46 4.81 4.30 62.6 33.0 76.5 88.7 75.2 95.1 2.4 0.6 3.3 6.23 6.42 6.14 Months 44 Total one year and over 45 Fixed rate 46 Floating rate Footnotes appear on the last page. 731,565 234,178 497,387 394 161 1,218 45 31 51 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. Historical data back to 1977 presented in the format of the current E.2 release are now available. 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.
