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FEDERAL RESERVE statistical release For immediate release June 6, 1983 G.21 (423) 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 revolving3 term 2 confirmed linesS To nonbank financial institutions 1981—October November December 363.3 363.6 364.8 305.0 304.8 307.9 15.9 127.1 125.4 126.5 12.8 16.0 16.1 13.0 13.1 149.2 150.4 152.2 58.3 58.8 56.9 1982—January February March April May June July August September October November December 370.3 377. (y 373.7 373.8 377.3 379.5 384.9 384.5 382.7 382.3 382.6 382.4 311.3 318.2 314.7 315.6 318.1 320.1 324.4 323.9 322.4 321.5 321.5 321.7 16.1 16.5 17.3 17.1 16.5 15.5 16.4 15.9 14.6 15.1 15.2 15.7 130.1 132.9 131.2 132.8 137.3 140.6 144.9 145.3 144.8 143.6 144.1 143.6 12.9 14.1 14.0 14.3 13.8 15.4 15.0 13.8 13.5 14.1 14.2 13.6 152.2 154.7 152.2 151.4 150.5 148.6 148.1 148.9 149.5 148.7 148.0 148.8 59.0 58.8 59.0 58.2 59.2 59.4 60.5 1983—January February March April 383.9 387.9 388.8 392.6 323.1 327.1 328.1 331.5 15.3 15.4 14.8 14.9 147.8 150.3 153.4 157.1 12.9 13.8 13.6 14.7 147.1 147.6 146.3 144.8 60.8 60.8 r— revised. - 1. Unused c o m m i t m e n t s a r e t h e a m o u n t s still available for lending under official p r o m i s e s t o lend t h a t a r e e x p r e s s l y conveyed t o t h e b a n k ' s c u s t o m e r s orally or in writing, usually in t h e form of a formally e x e c u t e d a g r e e m e n t s i g n e d by o n e of t h e b a n k ' s officers. 2. C o m m i t m e n t s for term l o a n s a r e t h o s e for l o a n s with a n original maturity of m o r e t h a n o n e year. 3. Revolving c r e d i t s a r e c o m m i t m e n t a g r e e m e n t s whereby t h e borrower may draw a n d repay l o a n s a t will with no repayment penalty and under which t h e c o m m i t m e n t r e b o u n d s by a n equal a m o u n t a f t e r a takedown h a s b e e n repaid. 4. Other c o m m i t m e n t s a r e e x p r e s s i o n s of willingness to lend, ot her t h a n for term l o a n s a n d revolving credits, t h a t a r e m a d e known t o t h e c u s t o m e r a n d a r e c h a r a c t e r i z e d by detailed formal a g r e e m e n t s specifying 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 which a loan is t o b e m a d e . 5. Confirmed lines of credit r e p r e s e n t general e x p r e s s i o n s of willi n g n e s s t o lend, o t h e r t h a n for term l o a n s or revolving credits, t h a t a r e m a d e known t o t h e c u s t o m e r but a r e not characterized by detailed formal a g r e e m e n t s specifying t h e t e r m s a n d c o n d i t i o n s under which a loan Is t o b e m a d e . 60.6 60.3 60.8 61.1 60.7 60.7 61.1 NOTE: Included in this series a r e 122 weekly reporting b a n k s accounting for approximately 85 p e r c e n t of all commercial a n d industrial loans, a n d 95 percent of all n o n b a n k financial loans. As of February 1981, several b a n k s a c c o u n t i n g for l e s s t h a n Vt percent of unused comm i t m e n t s were dropped from t h e reporting panel. Individual items may not a d d t o t o t a l s d u e t o rounding. Beginning in December, 1981, s h i f t s of foreign loans from U.S. banking o f f i c e s t o international banking facilities have reduced the levels of o u t s t a n d i n g b a n s . No information is available on how t h e s e s h i f t s a f f e c t u n u s e d loan c o m m i t m e n t s . May and September 1982 data reflect breaks in series owing to bank reclassifications of unused loan commitments. In May, these corrections lowered unused commitments to nonbank financial institutions by $0.3 billion and to commercial and industrial firms by $1.0 billion. The correction of commitments to commercial and industrial firms included a $0.6 billion drop in term loan commitments, an increase of $1.7 billion in revolving credit commitments and declines of $0.1 billion and $2.0 billion in "other" and confirmed-line commitments, respectively. In September, these corrections lowered unused commitments to nonbank financial institutions by $0.8 billion and to commercial and industrial firms by $3.2 billion. The corrections to commitments to commercial and industrial firms included reductions of $0.4 billion, $1.2 billion, $1.1 billion and $0.5 billion in term loan, revolving credit, confirmed line and other commitments, respectively. Revisions to back data are not available. Table 2 OUTSTANDING LOANS MADE UNDER COMMITMENTS AT SELECTED LARGE BANKS Billions of dollars, seasonally adjusted Month-end Total loans made under commitments 1 total To commercial and industrial firms formalized agreements other4 revolving 3 term 2 confirmed finesS To nonbank financial institutions 1981—October November December 160.5 163.7 165.6 140.8 143.2 144.4 48.2 48.0 47.7 45.9 48.2 49.7 13.2 13.4 13.7 33.5 33.6 33.3 19.7 20.5 1982—January February March April May June July August September October November December 169.2 171.3 173.5 176.6 179.4 180.4 179.4 181.9 176.9 176.9 175.2 176.4 148.2 149.9 151.7 154.8 158.1 159.1 158.1 159.9 157.5 158.2 156.4 157.1 47.4 48.3 48.6 48.7 49.3 48.8 47.9 47.6 46.9 47.7 47.9 51.9 52.0 53.5 56.0 57.0 59.5 58.5 13.6 14.4 13.9 14.3 14.8 14.5 15.5 15.1 21.0 21.4 12.0 48.6 61.9 62.9 62.7 64.4 35.3 35.2 35.7 35.8 37.0 36.3 36.2 37.1 36.7 36.1 34.5 32.9 19 8 3 — J a n u a r y February March April 176.7 176.4 176.lr 172.8 156.9 156.8 156.lr 154.0 48.4 48.6 49. Or 48.4 62.7 63.9 62.9 62.3 11.1 11.2 34.7 33.1 33.3 32.5 19.8 19.6 r—revised. 1. Loans m a d e under c o m m i t m e n t s a r e o u t s t a n d i n g l o a n s t o commercial and Industrial firms a n d nonbank financial Institutions, l e s s r e p a y m e n t s of principal, m a d e under c o m m i t m e n t s currently or previously in force. 2. Term loans are loans with an original maturity of more than 1 year. 3. Loans m a d e under revolving credits are loans under a g r e e m e n t s whereby t h e borrower may draw down and repay l o a n s a t will with no repayment penalty and under which t h e c o m m i t m e n t r e b o u n d s by an equal a m o u n t a f t e r a takedown h a s b e e n repaid. 4. Loans m a d e under other c o m m i t m e n t s a r e loans m a d e under exp r e s s i o n s of willingness t o lend, other t h a n for term l o a n s and revolving credits, t h a t are m a d e known t o t h e c u s t o m e r and are characterized by detailed formal a g r e e m e n t s specifying t h e t e r m s a n d conditions under which a loan is t o b e m a d e . 5. Loans m a d e under confirmed lines of credit a r e loans m a d e under general e x p r e s s i o n s of willingness t o lend, other than for term loans or revolving credits, that a r e m a d e known t o t h e c u s t o m e r but are not characterized by detailed formal a g r e e m e n t s specifying t h e t e r m s and conditions under which a loan Is t o b e m a d e . 60.1 11.5 11.3 11.2 10.9 10.8 21.2 21.8 21.8 21.3 21.3 21.3 22.0 19.4 18.7 18.8 19.3 20.0 18.8 NOTE: Included in t hi s s e r i e s a r e 122 weekly reporting banks accounting for approximately 85 percent of all commercial and industrial loans, and 95 percent of all n o n b a n k financial loans. As of February 1981, several b a n k s a c c o u n t i n g In total for a b o u t 1 /i percent of loans m a d e under c o m m i t m e n t s were dropped from t h e reporting panel. Individual items may not add to t o t a l s d u e t o rounding. Beginning In December, 1981 s h i f t s of foreign loans from U.S. banking o f f i c e s t o international banking facilities have reduced the levels of o u t s t a n d i n g loans. At b a n k s Included in t hi s survey, $1.5 billion of commercial a n d Industrial l o a n s were shifted, all but a negligible amount during December. It Is believed that t h e bulk of t h e s e loans were m a d e under commitments. September 1982 data reflect a break in series owing to bank reclassification of outstanding loans. Loans to nonbank financial institutions and commercial and industrial firms were lowered by $1.5 billion and $5.4 billion, respectively. The correction of outstanding commercial and industrial loans reduced term loans by $0.8 billion, revolving credit loans by $0.9 billion, and other loans by $3.7 billion. Confirmed line loans were raised by $0.1 billion. Revisions to back data are not available. Table 3 UNUSED COMMITMENTS Billions of dollars, not seasonally adjusted Month-end Total unused commitments 1 total To commercial and industrial firms formalized agreements term2 revolving?" other4 confirmed linesS 1981—October November December 361.9 366.3 369.1 304.1 307.9 312.3 16.3 16.6 16.5 127.7 128.1 130.7 12.7 13.1 13.3 147.4 150.1 151.9 1982—January February March April May June July August September October November December 376.1 380.2 375.7 372.5 374.0 373.9 380.2 383.5 380.3 380.6 385.5 387.3 316.6 320.6 316.0 313.7 314.7 314.8 320.4 323.3 320.5 320.3 324.8 326.6 16.3 16.5 17.3 16.8 16.1 15.3 15.8 15.8 14.6 15.2 15.7 16.0 133.0 134.2 131.9 132.0 134.3 137.1 141.6 143.7 143.4 144.3 147.1 148.3 13.7 14.7 14.7 14.1 13.8 13.9 14.2 13.9 13.5 13.9 14.3 13.8 153.6 155.2 152.0 150.8 150.5 148.5 148.8 149.9 148.9 146.9 147.7 148.5 1983—January February March April 389.9 391.1 391.0 391.3 328.7 329.4 329.5 329.5 15.5 15.4 14.8 14.7 151.1 151.8 154.2 156.2 13.7 14.3 14.3 14.4 148.4 148.0 146.2 144.2 NOTE: See Table 1 for footnotes. To nonbank financial institutions 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 revolving3 other* term 2 confirmed lines 5 To nonbank financial institutions 1981—October November December 161.8 165.4 167.8 141.6 144.6 146.1 48.3 47.8 47.6 45.9 48.5 50.1 13.3 13.7 14.0 34.1 34.7 34.3 20.2 20.9 21.7 1982—January February March April May June July August September October November December 167.9 169.9 173.3 175.8 178.4 181.0 178.6 179.7 177.8 177.9 177.2 178.6 147.4 149.0 151.7 154.5 157.3 159.4 157.2 157.7 158.2 158.9 158.1 159.0 47.6 48.3 48.4 48.8 49.1 48.8 48.1 47.5 47.0 47.8 47.7 48.5 51.8 51.9 53.9 55.9 56.9 59.4 58.3 59.1 62.1 62.8 63.1 65.0 13.8 14.1 13.9 14.5 14.9 14.7 14.9 14.7 11.9 11.6 11.6 11.5 34.3 34.6 35.5 35.4 36.4 36.6 36.0 36.4 37.2 36.7 35.6 33.9 20.5 20.9 21.6 21.3 21.0 21.6 21.3 22.0 19.6 19.1 19.2 19.7 1983—January February March April 175.4 175.2 175.8 172.3 156.1 156.0 156.0 153.9 48.6 48.6 48.8r 48.5 62.6 63.8 63.3 62.2 11.2 11.0 10.9 10.9 33.7 32.6 33.1 32.2 19.4 19.2 19.8 18.4 NOTE: See Table 2 for footnotes.
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