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FEDERAL RESERVE statistical release G.21 (423) For immediate r e l e a s e A p r i l 12, 1983 LOAN COMMITMENTS AT SELECTED LARGE COMMERCIAL BANKS Table 1 UNUSED COMMITMENTS Billions of dollars, seasonally adjusted Month-end Total unused commitments 1 total To commercial and industrial firms formalized agreements other4 revolving 3 term 2 confirmed lines 5 To nonbank financial institutions 1981—August September October November December 349.2 355.5 363.1 363.4 364.5 292.8 299.3 304.8 304.6 307.7 16.6 15.7 15.9 16.0 16.1 120.7 125.7 127.1 125.4 126.5 12.3 12.6 12.8 13.0 13.1 143.2 145.3 149.0 150.2 152.0 56.4 56.2 58.3 58.8 56.8 1982—January February March April May June July August September* October* November* December* 370.2 376.7 373.4 373.6 376.2 378.1 384.6 384.2 382.5r 382.Or 382.4r 382.2r 311.2 318.0 314.5 315.4 317.0 318.8 324.1 323.7 322.2r 321.2r 321.3r 321.5r 16.1 16.5 17.3 17.1 16.5 15.5 16.4 15.9 14.6r 15.1 15.2r 15.7r 130.1 132.9 131.2 132.8 137.3 140.5 144.8 145.3 144.8r 143.5r 144.1 143.6 12.9 14.1 14.0 14.3 13.8 15.4 15.0 13.8 13.5r 14.1 14.2 13.6 152.1 154.5 152.0 151.2 149.4 147.4 147.9 148.7 149.3r 148.5r 147.8r 148.6r 59.0 58.7 58.9 58.2 59.2 59.3 60.5 60.5 60.3r 60.8 383.8r 387.4 323.Or 326.7 15.3r 15.4 147.8r 150.3 13.0 13.8 146.9r 147.2 60.8 60.7 1983—January* February r—revised. 1. Unused commitments are the amounts still available for lending under official promises to lend that are expressly conveyed to the bank's customers orally or in writing, usually in the form of a formally executed agreement signed by o n e of the bank's officers. 2. Commitments for term loans are t h o s e for loans with an original maturity of more than one year. 3. Revolving credits are commitment agreements whereby the borrower may draw and repay loans at will with no repayment penalty and under which the commitment rebounds by an equal amount after a takedown has been repaid. 4. Other commitments are expressions of willingness to lend, other than for term loans and revolving credits, that are made known to the customer and are characterized by detailed formal agreements specifying the terms and conditions under which a loan is to be made. 5. Confirmed lines of credit represent general expressions of willingness to lend, other than for term loans or revolving credits, that are made known to the customer but are not characterized by detailed formal agreements specifying the terms and conditions under which a loan is to be made. * R e v i s i o n s f o r t h e s e months p a r t l y r e f l e c t a d d i t i o n a l bank r e c l a s s i f i c a t i o n s of comm i t m e n t s , b e g i n n i n g i n September 1982. The n o t e accompanying t h e t a b l e i n c o r p o r a t e s t h i s r e v i s i o n along with the previously reported break i n s e r i e s f o r September 1982. 61.1 60.7 NOTE: Included in this series are 122 weekly reporting banks accounting for approximately 85 percent of all commercial and industrial loans, and 95 percent of all nonbank financial loans. As of February 1981. several banks accounting for l e s s than Vz percent of unused commitments were dropped from the reporting panel. Individual items may not add to totals due to rounding. Beginning in December, 1981, shifts of foreign loans from U.S. banking o f f i c e s to international banking facilities have reduced the levels of outstanding loans. No information is available on how these shifts affect unused loan commitments. May and September 1982 data reflect breaks in series o w i n g to bank reclassifications of unused l o a n commitments. In May, these corrections lowered unused commitments to nonbank financial i n s t i t u t i o n s by $ 0 . 3 b i l l i o n and t o commercial and i n d u s t r i a l f i r m s by $ 1 . 0 b i l l i o n . The c o r r e c t i o n of commitments t o commercial and i n d u s t r i a l f i r m s i n c l u d e d a $ 0 . 6 b i l l i o n drop i n term loan commitments, an i n c r e a s e of $ 1 . 7 b i l l i o n i n r e v o l v i n g c r e d i t commitments and d e c l i n e s of $ 0 . 1 b i l l i o n and $ 2 . 0 b i l l i o n i n " o t h e r " and c o n f i r m e d - l i n e commitments, r e s p e c tively. In September, t h e s e c o r r e c t i o n s lowered unused commitments t o nonbank f i n a n c i a l i n s t i t u t i o n s by $ 0 . 8 b i l l i o n and t o commercial and i n d u s t r i a l f i r m s by $ 3 . 2 b i l l i o n . The c o r r e c t i o n s t o commitments t o commercial and i n d u s t r i a l f i r m s i n c l u d e d r e d u c t i o n s of $ 0 . 4 b i l l i o n , $ 1 . 2 b i l l i o n , $ 1 . 1 b i l l i o n and $ 0 . 5 b i l l i o n i n term l o a n , r e v o l v i n g c r e d i t , confirmed l i n e and o t h e r commitments, r e s p e c t i v e l y . Revisions t o back d a t a are not a v a i l a b l e . Table 2 OUTSTANDING LOANS MADE UNDER COMMITMENTS AT SELECTED LARGE BANKS Billions of d o l l a r s , s e a s o n a l l y a d j u s t e d Month-end Total loans made under commitments1 total T o commercial and industrial firms formalized agreements other4 revolving3 term 2 confirmed lines® To nonbank financial institutions 1981—August September October November December 162.0 162.8 160.5 163.6 165.6 140.7 141.8 140.8 143.1 144.4 48.4 48.5 48.2 48.0 47.7 44.9 45.7 45.9 48.2 49.7 13.5 13.4 13.2 13.4 13.7 33.9 34.2 33.5 33.5 33.3 1982—January February March April May June July August September* October* November* December* 169.1 171.3 173.4 176.6 179.4 180.3 179.4 181.8 176.8r 176.9r 175.lr 176.4r 148.1 149.9 151.6 154.8 158.1 159.0 158.1 159.8 157.4r 158.2r 156.3r 157.lr 47.4 48.3 48.6 48.7 49.3 48.8 47.9 47.6 46.9r 47.7r 47.9r 48.6r 51.9 52.0 53.5 56.0 57.0 59.5 58.5 60.1 61.9r 62.9 6 2 . 7r 64.4r 13.6 14.4 13.9 14.3 14.8 14.5 15.5 15.1 12.Or 11.5r 11.3r 11.2r 35.2 35.2 35.6 35.8 37.0 36.2 36.2 37.0 36. 6r 36.1 34.4r 32.9r 21.0 21.4 21.8 21.8 21.3 21.3 21.3 22.0 19.4r 18.7 18.8 19.3 1983—January* February 176.6r 176.2 156.8r 156.6 48.3r 48.6 62.8 63.9 11. l r 11.2 34.6 32.9 19.8 19.6 r—revised. 1. Loans made under commitments are outstanding loans to commercial and industrial firms and nonbank financial institutions, l e s s repayments of principal, made under commitments currently or previously in force. 2. Term loans are loans with an original maturity of more than 1 year. 3. Loans made under revolving credits are loans under agreements whereby the borrower may draw down and repay loans at will with no repayment penalty and under which the commitment rebounds by an equal amount after a takedown has been repaid. 4. Loans made under other commitments are loans made under expressions of willingness to lend, other than for term loans and revolving credits, that are made known to the customer and are characterized by detailed formal agreements specifying the terms and conditions under which a loan is to be made. 5. Loans made under confirmed lines of credit are loans made under general expressions of willingness to lend, other than for term loans or revolving credits, that are made known to the customer but are not characterized by detailed formal agreements specifying the terms and conditions under which a loan is to be made. * R e v i s i o n s f o r t h e s e months p a r t l y r e f l e c t a d d i t i o n a l bank r e c l a s s i f i c a t i o n s o f o u t standing l o a n s , b e g i n n i n g i n S e p t e m b e r 1982. These r e v i s i o n s have been i n c o r p o r a ted i n t o the note accompanying t h i s t a b l e . • 21.3 21.0 19.7 20.5 21.2 NOTE: Included in this series are 122 weekly reporting banks accounting for approximately 85 percent of all commercial and industrial loans, and 95 percent of all nonbank financial loans. As of February 1981, several banks accounting in total for about 1/z percent of loans made under commitments were dropped from the reporting panel. Individual items may not add to totals due to rounding. Beginning in December, 1981 shifts of foreign loans from U.S. banking offices to international banking facilities have reduced the levels of outstanding loans. At banks included in this survey, $1.5 billion of commercial and industrial loans were shifted, all but a negligible amount during December. It is believed that the bulk of these loans were made under commitments. September data r e f l e c t a break in s e r i e s o w i n g t o bank r e c l a s s i f i c a t i o n o f o u t s t a n d i n g loans. Loans t o nonbank f i n a n c i a l i n s t i t u t i o n s and c o m m e r c i a l a n d i n d u s t r i a l f i r m s w e r e l o w e r e d by $ 1 . 5 b i l l i o n and $ 5 . 4 b i l l i o n , r e s p e c t i v e l y . The c o r r e c t i o n o f o u t s t a n d i n g c o m m e r c i a l and i n d u s t r i a l l o a n s r e d u c e d t e r m l o a n s by $ 0 . 8 b i l l i o n , r e v o l v i n g c r e d i t l o a n s by $ 0 . 9 b i l l i o n , and o t h e r l o a n s b y $ 3 . 7 b i l l i o n . Confirmed l i n e l o a n s w e r e r a i s e d by $ 0 . 1 b i l l i o n . Revisions to back d a t a are not a v a i l a b l e . Table 3 UNUSED COMMITMENTS Billions of dollars, not seasonally adjusted Month-end Total unused commitments1 total To commercial and industrial firms formalized agreements term 2 revolving] other4 1981—August September October November December 348.5 353.4 361.7 366.0 368.8 292.5 297.5 303.9 307.6 312.1 16.5 15.7 16.3 16.6 16.5 119.4 124.4 127.7 128.1 130.7 1982—January February March April May June July August September* October* November* December* 375.8 380.0 375.5 372.3 372.8 372.6 379.9 383.2 380.lr 380.4r 385.3r 387.Or 316.4 320.3 315.7 313.5 313.6 313.5 320.2 323.1 320.2r 320.lr 324.5r 326.4r 16.3 16.5 17.3 16.8 16.1 15.3 15.8 15.8 14. 6r 15.2 15.7r 16.Or 133.0 134.2 131.9 132.0 134.3 137.0 141.5 143.7 143.4r 144.2 147.1 148.3 1983—January* February 389.8r 390.7 328.6r 329.1 15.5r 15.4 151. l r 151.8 NOTE: See Table 1 for footnotes. 12.4 . 12.6 12.7 13.1 13.3 confirmed lines 5 To nonbank financial institutions 144.2 144.7 147.2 149.9 151.7 56.0 55.9 57.8 58.4 56.7 13.7 14.7 14.7 14.1 13.8 13.9 14.2 13.9 13. 5r 13.9 14.3 13.8 153.5 155.0 151.8 150.6 149.4 147.3 148.6 149.7 148.7r 146.7r 147.5r 148.3r 59.4 59.6 59.7 58.8 59.3 59.0 59.8 60.1 59. 9i 60.3 60.7 60.6 13.8 14.3 148.2r 147.6 61.2 61.6 Table 4 OUTSTANDING LOANS MADE UNDER COMMITMENTS AT SELECTED LARGE BANKS Billions of dollars, not seasonally adjusted Month-end Total loans made under commitments 1 total To commercial and industrial firms formalized agreements other4 revolving 3 term 2 confirmed linesS To nonbank financial institutions 1981—August September October November December 160.3 163.5 161.7 165.4 167.7 139.0 142.3 141.5 144.5 146.0 48.3 48.6 48.3 47.8 47.6 44.2 45.8 45.9 48.5 50.1 13.1 13.3 13.3 13.7 14.0 33.3 34.6 34.1 34.6 34.3 21.3 21.2 20.2 20.9 21.7 1982—January February March April May June July August Sept ember* October* November* December* 167.9 169.9 173.2 175.7 178.3 181.0 178.5 179.6 177.7r 177.9r 177.lr 178.6r 147.4 148.9 151.7 154.4 157.3 159.4 157.2 157.6 158.lr 158.8r 158.Or 158.9r 47.6 48.3 48.4 48.8 49.1 48.8 48.1 47.5 47.Or 47.8r 47.7r 48.5r 51.8 51.9 53.9 55.9 56.9 59.4 58.3 59.1 62.lr 62.8 63.lr 65.Or 13.8 14.1 13.9 14.5 14.9 14.7 14.9 14.7 11.9r 11.6r 11.6r 11.5r 34.2 34.6 35.4 35.4 36.4 36.5 36.0 36.3 37. l r 36.7 35.5r 33.9r 20.5 20.9 21.6 21.3 21.0 21.6 21.3 22.0 19.6r 19.1 19.2 19.7 1983—January* February 175.4r 175.1 156.Or 155.9 48.5r 48.6 62.7 63.8 11.2r 11.0 33.6 32.4 19.4 19.2 NOTE: See Table 2 for footnotes.
@FedFRASER