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I ESERVE LOAN COMMITMENTS AT SELECTED LARGE COMMERCIAL BANKS For UNUSED COMMITMENTS immediate release june 20, 1975 IN BILLIONS OF DOLLARS To 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 Month-end 1975—January Total unused com m itments 140 0 5 March 142.3 142.6 April 146.0 February r Formalized agreements 1 Totai Term 2 Revolving 3 Other 4 Confirmed lines 5 To n o n b a n k financial institutions 105.0 6.2 27.9 4.4 66.5 29.6 105.6 106.5 6.1 6.0 28.7 29.3 4.4 4.2 66.4 66.9 31.0 30.7 6.5 30.5 109.6 r r r r 68.3 4.3 For real estate loans 5.9 r 1:1 r 5.3 31.1 # 1 U n u s e d c o m m i t m e n t s are m e a m o u n t s s t i l l a v a i l a b l e f o r Sending u n d e r o f f i c i a l p r o m i s e s t o l e n d t h a t a r e e x p r e s s l y c o n v e y e d t o t h e b a n k ' s c u s t o m e r s o r a l l y or in w r i t i n g , u s u a l l y i n t h e f o r m o f v o l v i n g c r e d i t s , t h a t are m a d e k n o w n t o t h e c u s t o m e r a n d are c h a r a c t e r i z e d b y d e t a i i e c formal a g r e e m e n t s s p e c i f y i n g t h e t e r m s a n d c o n d i t i o n s u n d e r w h i c h a l o a n is t o b e m a d e . a f o r m a l l y e x e c u t e d agreement signed b y o n e of t h e b a n k ' s o f f i c e r s . ^ C o m m i t m e n t s f o r t e r m loans are t h o s e f o r loans w i t h an o r i g i n a l m a t u r i t y o f m o r e t h a n 1 year. ^ R e v o l v i n g c r e d i t s are c o m m i t m e n t a g r e e m e n t s w h e r e b y the b o r r o w e r m a y d r a w and repay l o a n s at w i l l w i t h n o r e p a y m e n t p e n a l t y a n d u n d e r w h i c h t h e c o m m i t m e n t r e b o u n d s b y a n e q u a l a m o u n t a f t e r a t a k e d o w n has b e e n r e p a i d . 4 ( ) t h e r c o m m i t m e n t s are e x p r e s s i o n s o f w i l l i n g n e s s t o l e n d , o t h e r t h a n f o r t e r m l o a n s a n d re- ^ C o n f i r m e d lines o f c r e d i t represent general expressions o f willingness t o lend, o t h e r t h a n for t e r m l o a n s o r r e v o l v i n g c r e d i t s , t h a t a r e m a d e k n o w n t o t h e c u s t o m e r b u t a r e n o t c h a r a c t e r i z e d byd e t a i l e d , f o r m a l a g r e e m e n t s s p e c i f y i n g t h e t e r m s a n d c o n d i t i o n s u n d e r w h i c h a l o a n is t o be m a d e . NOTE.-Included in t h i s series a r e 138 weekly r e p o r t i n g b a n k s ; these b a n k s a c c o u n t for a p p r o x i m a t e l y 8 5 per c e n t o f c o m m e r c i a l a n d i n d u s t r i a l l o a n s , 9 5 p e r c e n t o f n o n b a n k financial loans, a n d 75 per c e n t o f real e s t a t e - l o a n s o f all w e e k l y r e p o r t i n g b a n k s . add to totals due to rounding. I Individual items may not Table 2 G.21 OUTSTANDING LOANS MADE UNDER COMMITMENTS AT SELECTED LARGE BANKS IN BILLIONS OF DOLLARS To c o m m e r c i a l and i n d u s t r i a l f i r m s Month-end Formalized agreements Total Term 2 Revolving 136.9 93.8 27.0 28.8 91.5 90.2 26.9 26.6 27.7 March 135.0 133.4 April 132.3 89.5 27.3 1975—January- » Total loans made under commitments1 February r 3 Other 4 Confirmed lines5 31.5 To n o n b a n k financial institutions 22.4 Real estate loans 20.8 20.8 29.5 22.6 22.8 28.2 22.1 20.7 28.0 6.5 30.5 6,1 r 27,9 6.1 20.4 r # 1 Loans m a d e u n d e r c o m m i t m e n t s are all o u t s t a n d i n g loans, less r e p a y m e n t s o f p r i n c i p a l , made u n d e r c o m m i t m e n t s c u r r e n t l y o r p r e v i o u s l y in f o r c e . 2 j e r m loans are loans w i t h an o r i g i n a l m a t u r i t y o f m o r e t h a n 1 year. 3 L o a n s m a d e u n d e r r e v o l v i n g c r e d i t s are loans under agreements w h e r e b y t h e b o r r o w e r m a y d r a w d o w n and repay loans at w i l l w i t h n o r e p a y m e n t p e n a l t y and u n d e r w i t c h t h e c o m m i t m e n t r e b o u n d s b y an e q u a l a m o u n t after a t a k e d o w n has been repaid. ^ L o a n s m a d e u n d e r o t h e r c o m m i t m e n t s are loans m a d e u n d e r expressions of w i l l i n g n e s s t o t h e r t h a n f o r t e r m loans and r e v o l v i n g credits, t h a t Digitizedlend, for oFRASER c h a r a c t e r i z e d b y d e t a i l e d f o r m a l agreements s p e c i f y i n g t h e http://fraser.stlouisfed.org/ r - Revised, Federal Reserve Bank of St. Louis are made k n o w n t c t h e c u s t o m e r and are t e r m s and c o n d i t i o n s u n d e r w h i c h a loan is t o be made. 5|_oans m a d e u n d e r c o n f i r m e d lines o f c r e d i t are loans m a d e u n d e r general expressions o f w i l l i n g n e s s t o l e n d , o t h e r t h a n f o r t e r m loans or r e v o l v i n g credits, t h a t are m a d e k n o w n t o t h e cust o m e r b u t are n o t c h a r a c t e r i z e d b y d e t a i l e d f o r m a l agreements s p e c i f y i n g t h e t e r m s a n d c o n d i t i o n s u n d e r w h i c h a loan is t o be made. N O T E . - I n c l u d e d in t h i s series are 138 w e e k l y r e p o r t i n g b a n k s ; these b a n k s a c c o u n t f o r app r o x i m a t e l y 8 5 per c e n t o f all c o m m e r c i a l and i n d u s t r i a l loans, 9 5 per c e n t o f all n o n b a n k f i n a n c i a l loans, and 7 5 per c e n t o f all real estate loans o f all w e e k l y r e p o r t i n g banks. I n d i v i d u a l i t e m s m a y n o t add t o t o t a l s d u e t o r o u n d i n g .