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• QfCOVf •; FEDERAL RESERVE statistical release M For immediate r e l e a s e May, 1981 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 revolving 3 term 2 confirmed linesS To nonbank financial institutions 8.4 102.6 104.1 105.7 109.2 43.1 43.5 44.6 45.2 60.9 65.4 72.0 79.6 85.2 85.0 86.2 87.3 86.2 86.0 85.8 83.5 9.0 9.4 . 9.6 10.1 9.7 9.7 9.5 9.6 9.8 10.6 10.3 10.7 110.7 114.8 116.8 119.8 121.0 121.1 122.0 121.8 123.7 126.4 125.6 129.6 45.8 45.3 47.6c 50.6 52.6 52.3 54.6 53.9 53.8 53.7 54.5 52.9 88.5 92.2 95.4 10.8 131.9 132.6 135.5 53.3 53.8 54.1 1979—September October November December 220.8 224.8 230.7 234.9 177.7 181.3 186.1 189.7 12.5 12.5 12.7 12.9 53.4 56.0 58.9 59.2 8.6 1980—January February March April May June July August September October November December 238.0 247.1 260.9c 275.2 282.1 283.4 287.7 287.6 288.5 290.7 290.5 291.1 192.2 201.8 213.3 224.6 229.5 231.1 233.1 233.7 234.7 237.0 236.0 238.2 11.6 12.2 14.9 15.1 13.6 15.3 15.4 15.0 15.0 14.0 14.3 14.4 1981—January February March 298.7 304.5 310.8 245.4 250.7 256.7 14.2 14.6 14.8 8.7 8.8 11.3 11.0 c-corrected, r—revised. 1. Unused commitments are the amounts still available for lending under official promises to lend that are expressly conveyed t o the bank's customers orally or in writing, usually in the form of a formally executed agreement signed by one of the bank's officers. 2. Commitments for term loans are those 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 t o 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. 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 less than 1/a percent of unused commitments were dropped from the reporting panel. Individual items may not add to totals due to rounding. Table 2 OUTSTANDING LOANS MADE UNDER COMMITMENTS AT SELECTED LARGE BANKS Billions o f dollars, seasonally adjusted Month-end T o t a l loans made under commitments1 total T o c o m m e r c i a l and industrial f i r m s formalized agreements other4 revolving 3 term 2 confirmed lines5 To nonbank financial institutions 1979—September October November December 132.0 133.0 132.3 137.1 114.0 114.6 113.9 118.2 41.3 41.8 42.6 43.4 30.0 30.5 30.8 33.6 10.7 10.4 10.4 10.9 32.1 32.0 30.2 30.4 18.1 18.4 18.5 19.1 1980—January February March April May June July August September October November December 138.4 140.7 144.1 141.3 136.4 135.2 136.1 138.5 141.0 142.8 146.6 150.8 118.5 119.8 122.4 120.3 117.0 116.0 116.7 119.5 121.4 123.4 127.4 130.5 42.9 43.2 43.7 44.0 43.7 43.6 43.8 45.0 45.3 45.9 46.7 47.3 34.0 34.5 35.7 34.7 32.9 32.1 32.1 32.9 33.6 35.2 36.8 39.3 11.7 12.0 11.9 11.5 11.5 11.4 11.9 11.6 11.5 11.4 11.6 12.0 29.9 30.1 31.1 30.1 28.9 28.9 28.9 30.0 31.0 30.9 32.3 31.9 19.9 20.9 21.7 21.0 19.4 19.2 19.3 19.0 19.6 19.4 19.2 20.3 1981—January February March 150.0 148.3 148.8 129.2 128.0 128.7 47.5 48.0 47.7 38.5 37.1 37.8 11.9 12.0 12.1 31.3 30.9 31.1 20.8 20.3 20.1 r—revised. 1. Loans made under commitments are outstanding loans to commercial and industrial firms and nonbank financial institutions, less 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 t o the customer but are not characterized by detailed formal agreements "specifying the terms and conditions under which a loan is to be made. 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 % percent of loans made under commitments were dropped from the reporting panel. Individual items may not add to totals due to rounding. Table 3 UNUSED COMMITMENTS Billions of dollars, not seasonally adjusted To commercial and industrial firms formalized agreements other4 revolving3 term 2 Total unused commitments 1 total 218.7 223.7 232.0 237.0 175.9 180.6 187.7 191.8 12.5 12.8 13.2 13.2 52.9 56.3 60.1 61.2 8.6 1980—January February March April May June July August September October November December 241.3 249.1 262.2 274.4 280.0 279.8 284.6 287.2 286.8 289.5 292.1 294.1 195.2 203.2 214.1 223.2 227.3 227.8 230.6 233.6 233.3 236.3 238.1 241.3 11.8 12.2 14.9 14.9 13.3 15.1 14.8 14.9 15.0 14.4 14.8 14.7 62.2 66.1 72.4 79.1 83.3 82.9 84.2 86.3 85.3 86.4 87.6 86.3 9.5 9.8 10.1 9.9 9.7 9.0 9.7 9.8 10.5 10.4 10.9 111.7 115.1 116.7 119.3 121.0 121.0 122.6 122.7 123.2 124.9 125.3 129.3 1981—January February March 302.9 307.1 312.5 249.4 252.5 257.7 14.4 14.6 14.8 90.4 93.1 95.9 11.4 11.8 11.6 133.1 133.0 135.4 Month-end 1979—September October November December NOTE: See Table 1 for footnotes. 8.6 8.9 8.5 8.8 confirmed linesS 102.0 102.9 105.5 109.0 To nonbank financial institutions Table 4 OUTSTANDING LOANS MADE UNDER COMMITMENTS AT SELECTED LARGE BANKS Month-end Total loans made under commitments 1 total To commercial and industrial firms formalized agreements other4 revolving 3 term 2 confirmed linesB To nonbank financial institutions 1979—September October November December 132.6 134.3 134.0 139.2 114.4 115.5 115.2 119.6 41.3 41.9 42.4 43.3 30.0 30.5 31.0 33.9 10.6 10.5 10.7 11.2 32.5 32.6 31.1 31.3 18.2 18.8 18.9 19.5 1980—January February March April May June July August September October November December 137.5 139.5 143.8 140.5 135.7 135.9 135.4 137.0 141.8 144.1 148.5 152.8 118.0 119.1 122.3 120.0 116.6 116.5 116.1 118.1 122.0 124.2 128.9 132.0 43.1 43.2 43.5 44.1 43.8 43.6 44.0 44.9 45.4 46.0 46.5 47.2 34.0 34.4 36.0 34.6 32.9 32.1 32.0 32.4 33.7 35.2 37.1 39.7 11.8 11.8 11.9 11.6 11.5 11.6 11.4 11.3 11.4 11.5 11.9 12.3 29.0 29.7 30.9 29.8 28.4 29.1 28.7 29.5 31.4 31.5 33.3 32.8 19.5 20.4 21.5 20.5 19.1 19.4 19.3 19.0 19.8 19.9 19.6 20.8 1931—January February March 149.0 147.1 148.4 128.7 127.2 128.5 47.7 48.0 47.5 38.5 37.0 38.1 12.0 11.8 12.1 30.4 30.4 30.9 20.3 19.9 19.9 NOTE: See Table 2 for footnotes.