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FEDERAL RESERVE statistical release G.21 (423) COMMERCIAL AND INDUSTRIAL LOAN COMMITMENTS AT SELECTED LARGE COMMERCIAL BANKS Table 1 UNUSED COMMITMENTS Billions of dollars, seasonally a d j u s t e d Month-end For immediate r e l e a s e March 8, 1985 Total 1 Formalized a g r e e m e n t s revolving* term2 other 4 Confirmed lines 5 143.5r 142.3r 144.8r 148.5r 149.8r 150.6r 149.lr 1983—June* July August September October November December 331.3r 329.Or 332.lr 340.lr 345.3r 347.5r 347.6r 15.3r 14.9r 15.3 16.Or 16.4 15.6r 15.7r 162.2r 162.Or 161.8r 165.6r 168.5r 170.9r 172.5r 10.4 9.8 1984—January** February March April May June July August September October November*** December 350.5r 350.4r 361.3r 363.3 364.5 363.3r 356.5 359.7r 364.Or 366.1 365.0 366.6r 15.5r 15.5r 15.7r 15.5 16.6 16.9r 16.6 17.4 17.4 16.4 16.1 16.1 176.2r 177.1T 187.2r 190.3 189.2 186.7 181.0 181.7 186.1 188.1 188.9 193.2r 8.5 9.0 9.7 10.3 9.5 9.7 9.7 9.5 9.Or 150.3r 149.lr 149.5r 148.8 149.7 150.0 148.6 151.0 150.9r 152.0 150.5 148.2r 1985—January 367.9 16.7 195.4 9.0 146.9 r—revised. 1. Unused c o m m i t m e n t s are t h e a m o u n t s still available for lending under official promises to lend that are expressly conveyed to the 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 signed 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 are t h o s e for loans with an original maturity of more than o n e year. 3. Revolving credits are commitment a g r e e m e n t s whereby the borrower may draw and repay loans at will with no repayment penalty and under which the commitment r e b o u n d s by an equal a m o u n t after a takedown h a s been repaid. 4. Other c o m m i t m e n t s are e x p r e s s i o n s of willingness to lend, other than for term loans and revolving credits, that are m a d e known to the customer and are characterized by detailed formal a g r e e m e n t s specifying the t e r m s and conditions under which a loan is to be made. 5. Confirmed lines of credit represent general e x p r e s s i o n s of willingn e s s to lend, other than for term loans or revolving credits, that are m a d e known to the customer but are not characterized by detailed formal agreem e n t s specifying t h e t e r m s and conditions under which a loan is to be made. 10.1 10.1 10.5 10.5 10.3 8.1 8.9 8.8 *Bank reclassifcations of unused loan c o m m i t m e n t s produced a break in s e r i e s in J u n e 1983. In J u n e 1983, c o m m i t m e n t s to C&l firms were lowered by $3.0 billion. The correction of c o m m i t m e n t s to C&l firms included a drop in term loan c o m m i t m e n t s of $0.3 billion, an increase of $2.5 billion in revolving credit commitments, and a decline of $5.3 billion in other c o m m i t m e n t s , respectively. Revisions to back d a t a are not available. **A merger between a reporting bank and a nonreporting bank c a u s e d a break in series in J a n u a r y 1984. Unused C&l c o m m i t m e n t s were inc r e a s e d by $0.5 billion. The i n c r e a s e in unused C&l c o m m i t m e n t s w a s c o n c e n t r a t e d in confirmed lines, which increased $0.4 billion. Revisions to back d a t a are not available. ***Due to mergers, the number of large commercial banks in our survey h a s dropped from 121 to 119, a s of November 1984. Historical data h a s been revised. Individual items may not add to t o t a l s d u e to rounding. Table 2 OUTSTANDING LOANS MADE UNDER COMMITMENTS AT SELECTED LARGE BANKS Billions of dollars, seasonally a d j u s t e d Month-end Total 1 term 2 Formalized a g r e e m e n t s revolving^ other 4 Confirmed lines 5 1983—June* July August September October November December 151.4r 150.8r 150.5r 148.8r 149.5r 149.8r 153.6r 48.5r 48.7r 49.3r 48.2r 48.6r 49.4r 50.5r 62.8r 62.7r 62.4r 62.Or 62.Or 61.3r 62.8r 8.0 7.8 7.9 8.2 8.4 9.0 8.8 32.2r 31.7r 30.9r 30.4r 30.6r 30.2r 31.5r 1984—January** February March April May June July August September October November*** December 151.8r 156.4r 161.4r 165.4r 167.lr 170.2r 171.0 170.6 167.2r 167.Or 168.Or 167.8r 49.4r 50.lr 51.5r 51.3r 51.2r 51.7r 50.5r 50.7r 49.2r 49.Or 49.3r 49.6r 61.6r 64.Or 66. lr 68.2 70.8 72.9r 76.lr 75.8r 74.5r 73.3 73.8 73.Or 8.1 8.4 8.5 8.7 8.6 9.0 8.6 8.8 8.9 9.4 9.7 9.4 32.8r 34.Or 35.3r 37.3 36.5 36.7 35.8 35.2 34.5 35.4 35.2 35.9 1985—January 168.1 48.6 72.3 9.9 37.3 r—revised. 1. Loans m a d e under c o m m i t m e n t s are outstanding loans to commercial and industrial firms, less r e p a y m e n t s of principal, m a d e under commitments 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 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 h a s been repaid. 4. Loans made under other commitments are loans made under expressions of willingness to lend, other t h a n for term loans and revolving credits, that are m a d e known to 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 the terms and conditions under which a loan is to be made. 5. Loans m a d e under confirmed lines of credit are loans m a d e under general e x p r e s s i o n s of willingness to lend, other than for term loans or revolving credits, that are m a d e known to the customer but are not characterized by detailed formal a g r e e m e n t s specifying t h e terms and conditions under which a loan is to be m a d e . < * J u n e 1983 data reflect breaks in series owing to bank declassifications of outstanding loans. In J u n e 1983, loans to commercial and industrial firms were lowered by $1.6 billion. The correction of outstanding commercial and industrial loans lowered term loans by $0.3 billion, raised revolving credit loans by $1.5 billion, and reduced other loans by 2.8 billion. Revisions to back d a t a are not available. * * A merger between a reporting bank and a nonreporting bank c a u s e d a break in series in January 1984. Outstanding C&l loans made under commitments were increased by $0.2 billion. The increase in outstanding loans w a s concentrated in confirmed lines, which increased $0.2 billion. Revis i o n s to back d a t a are not available. ***Due to mergers, the number of large commercial banks in our survey h a s dropped from 121 to 119, a s of November 1984. Historical data h a s been revised. Individual items may not add to t o t a l s due to rounding. Table 3 UNUSED COMMITMENTS Billions of dollars, not seasonally a d j u s t e d Month-end Total1 2 term Formalized agreements revolving3 other4 9.5 9.2 10.0 9.9 10.4 10.5 10.4 Confirmed lines5 142.4r v 142.9r 144.4r 147.Or 148.Or 150.Or 149.7r 1983—June* July August September October November December 327.4r 330.2r 334.7r 339.3r 344.6r 348.4r 348.9 15.1 15.lr 15.6r 15.7r 16.3r 15.8r 15.9r 160.3r 163.lr 164.7r 166.7r 169.9r 172.lr 172.8r 1984—January** February March April May June July August September October November*** December 352.5r 351.6r 360.8r 361.5 361.8 359.lr 357.9 362.7r 363.3r 365.6 366.0 367.8r 15.4r 15.4r 15.8r 15.4 16.5 16.8r 16.8 17.7 17.lr 16.3 16.4r 16.4r 176.5r 177.lr 185.7r 188.2 186.4 184.4 182.3 185.0 187.4 189.6 190.2 193.6r 8.9 8.6 8.9 8.9 9.0 8.9 9.7 9.4 ' 9.5 9.6 9.5 9.Or 151.7r 150.4r 150.3r 149.0 150.0 148.9 149.2 150.5 149.3 150.2r 149.9 148.8r 1985—January 369.9 16.6 195.8 9.3 148.2 NOTE: S e e Table 1 for f o o t n o t e s . Table 4 OUTSTANDING LOANS MADE UNDER COMMITMENTS AT SELECTED LARGE BANKS Billions of dollars, not seasonally adjusted Month-end Total1 term* Formalized agreements revolving3 other4 Confirmed lines5 1983—June* July August September October November December 150.9r 148.8r 148.lr 149.6r 149.5r 150.9r 156.8r 48.4r 48.9r 49. Or 48.3r 48.7r 49.2r 50.7r 62.4r 61.Or 60.3r 61.5r 61.2r 61.8r 65.3r 8.2 7.9 7.8 8.1 8.3 8.9 8.9 32.0r 31.lr 31.Or 31.7r 31.4r 31.lr 32.Or 1984—January** February March April May June July August September October November*** December 152.8r 155.7r 161.5r 165.4r 166.4r 169.7r 168.6r 167.8 168.lr 167.Or 169.3r 171.4r 49.5r 50.lr 51.4r 51.4r 51.3r 51.6r 50.7r 50.5r 49.3r 49.2r 49. l r 49.8r 63.5r 64.2r 66.7r 68.5 70.4 72.4r 74.lr 73.3r 73.9r 72.3 74.4 75.8r 8.0 8.3 8.5 8.7 8.7 9.2 8.7 8.8 8.9 9.2 9.6 9.5 31.8r 33.lr 35.Or 36.9 36.0 36.5 35.lr 35.3 36.0 36.4 36.2 36.3r 1985—January 169.2 48.6 74.6 9.8 36.2 NOTE: See Table 2 for footnotes.