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FEDERAL RESERVE statistical release '-.XAL RE>V, . For immediate release September 15 , 1982 G . 2 1 (423) LOAN COMMITMENTS AT SELECTED LARGE COMMERCIAL BANKS Table 1 UNUSED COMMITMENTS Billions of dollars, seasonally adjusted Month-end February March April May June July August September October November December 182—January February March April May June July T o t a l unused commitments 1 total T o commercial and industrial f i r m s f o r m a l i z e d agreements term 2 revolving 3 other4 304.4 310.7 315.2 320.9 325.5 343.8 349.2 355.5 363.1 363.4 364.6 250.6 256.6 261.3 266.7 272.3 288.2 292.8 299.3 304.8 304.6 307.8 14.6 14.8 15.0 15.2 15.3 16.9 16.6 15.7 15.9 16.0 16.2 92.2 95.4 97.8 101.9 105.8 116.4 120.7 125.7 127.1 125.4 126.5 11.3 11.0 11.8 11.5 12.3 12.2 12, 3 12.6 12.8 13.0 13.1 370.3 376.7 373.7 373.7 376.2r 378.Or 384.6 311.3 318.0 314.7 315.5 317.Or 318.6r 324.1 16.3 16.6 17.5 17.3 16.8 16.1 16.7 130.1 132.9 131.2 132.8r 137.1 140.3 144.7 12.8 14.0 14.0 14.3 13.7 15. Ir 14.8 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 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 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. confirmed lines5 132.5 135.4 136.7 138.1 138.9 142.7 143.2 145.3 149.0 150.2 152.0 T o nonbank financial institutions 53.8 54.1 53.9 54.2 53.2 55.6 56.4 56.2 58.3 58.8 56.8 152.1 154.5 152.0 151.2 149.4r 147.Ir 147.9 59.0 58.7 59.0 58.2 59.2r 59.4r 60.5 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 Vs 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 offices to international banking facilities have reduced the levels of outstanding loans. No information is available on how these shifts affect unused loan commitments. May 1982 data reflect a break in series owing to bank reclassifications of unused loan commitments. 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 terra 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. Revisions to back data are not available. Table 2 OUTSTANDING LOANS MADE UNDER COMMITMENTS A T 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 term 2 revolving 3 confirmed lines 5 To nonbank financial institutions 1981—January February March April May June July August September October November December 150.0 148.3 148.7 151.6 154.3 155.2 157.2 162.0 162.6 160.5 163.6 165.6 129.2 128.0 128.6 130.6 134.1 134.4 136.9 140.7 141.6 140.8 143.1 144.4 46.9 47.5 47.1 46.9 47.9 48.2 48.3 48.4 48.5 48.2 48.0 47.7 39.1 37.6 38.4 39.5 41.3 41.8 42.8 44.9 45.7 45.9 48.2 49.7 11.9 12.0 12.1 12.3 12.6 12.9 13.6 13.5 13.2 13.2 13.4 13.7 31.3 30.9 31.0 31.9 32.3 31.5 32.2 33.9 34.2 33.5 33.5 33.3 20.8 20.3 20.1 21.0 20.2 20.8 20.3 21.3 21.0 19.7 20.5 21.2 1982—January February March April May 170.4 172.7 174.7 177.7 180.6r 181.5r 180.6 149.4 151.3 152.9 155.9 159.3r 160.2r 159.3 47.9 48.7 48.9 48.8 49.6 49.1 48.2 51.8 52.0 53.5 56.1 57.0 59.5 58.5 14.0 14.9 14.4 14.7 15.2 14.9 15.9 35.7 35.7 36.1 36.3 37.5r 36.7r 36.7 21.0 21.4 21.8 21.8 21.3r 21.3 21-3 July 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 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 in total for about % percent of loans made z 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. e Table 3 UNUSED COMMITMENTS Billions of dollars, not seasonally adjusted Month-end 1981—January February March April May July August September October November December 1982—January February March April MayJune July Total unused commitments 1 To commercial and industrial firms formalized agreements term 2 other 4 revolving 3 confirmed lines 5 To nonbank financial institutions 302.9 306.9 312.3 314.3 318.4 321.2 339.8 348.5 353.4 361.7 366.0 368.9 249.4 252.3 257.5 259.8 264.1 268.3 284.9 292.5 297.5 303.9 307.6 312.2 14.4 14.6 14.8 14.8 14.8 15.1 16.3 16.5 15.7 16.3 16.6 16.6 90.4 93.1 95.9 97.2 99.7 103.2 113.7 119.4 124.4 127.7 128.1 130.7 11.4 11.8 11.6 11.6 11.5 11.1 11.5 12.4 12.6 12.7 13.1 13.3 133.1 132.9 135.3 136.2 138.1 138.8 143.4 144.2 144.7 147.2 149.9 151.7 53.6 54.6 54.8 54.5 54.3 52.9 54.9 56.0 55.9 57.8 58.4 56.7 375.9 380.0 375.6 372.4 372.9r 372.4r 379.9 316.5 320.4 315.9 313.6 313.7r 313.4r 320.2 16.5 16.6 17.5 17.0 16.4 15.9 16.1 133.0 134.2 131.9 132.Or 134.1 136.8 141.4 13.6 14.6 14.7 14.1 13.7 13.7r 14.0 153.5 155.0 151.8 150.6 149.4r 59.4 59.6 59.8 NOTE: See Table 1 for footnotes. total 58.8 59.3r 147.Or 59. Ir 148.6 59.8 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 1981—January February March total confirmed lines 5 To commercial and industrial firms formalized agreements term 2 revolving3 other* 149.0 147.0 128.7 127.1 47.1 47.5 39.1 37.5 12.0 11.8 12.1 12.4 I To nonbank financial institutions 30.4 30.4 20.3 19.9 30.8 19.9 20.5 April 148.4 150.9 128.5 130.4 46.9 47.0 38.7 39.4 May 153.2 133.3 12.7 31.7 19.9 41.8 13.1 31.8 21.0 48.5 48.3 42.7 44.2 13.1 August 156.6 160.3 134.9 136.2 139.0 47.7 48.2 41.3 155.9 July 13.1 32.0 33.3 21.3 September October 163.5 161.7 142.3 141.5 48.6 48.3 45.8 45.9 13.3 13.3 34.6 34.1 21.2 20.2 November 144.5 146.0 47.8 47.6 48.5 50.1 13.7 14.0 34.6 December 165.4 167.7 20.9 34.3 21.7 1982—January February 169.3 171.3 148.8 150.3 48.1 48.7 51.7 51.9 14.2 14.6 34.7 35.1 20.5 20.9 March 174.6 153.0 48.7 53.9 14.4 35.9 April 177.Or 155.7 48.9 56.0 14.9 35.9 21.6 21.3 May June 179.6r 182.2r 158.5r 160.6r 49.4 49.1 56.9 59.4 15.3 15.1 36. 9r 37.Or 21.Or 21.6 July 179.7 158.5 48.4 58.3 15.3 36.5 21.3 NOTE: See Table 2 for footnotes. | 31.6 20.3
