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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.