View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

m-.

FEDERAL RESERVE statistical release

i
For immediate r e l e a s e
September 8 , 1983

G.21 (423)

LOAN COMMITMENTS AT SELECTED LARGE COMMERCIAL BANKS
Table 1
UNUSED COMMITMENTS
Billions of dollars, seasonally adjusted

982—January
February
March
April
May
June
July
August
September
October
November
December

370.3
377.0
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

To commercial and industrial firms
formalized agreements
other4
revolving3
term 2
16.1
130.1
12.9
16.5
132.9
14.1
17.3
131.2
14.0
17.1
132.8
14.3
16.5
137.3
13.8
140.6
15.4
15.5
16.4
144.9
15.0
13.8
15.9
145.3
14.6
144.8
13.5
15.1
14.1
143.6
15.2
144.1
14.2
15.7
143.6
13.6

983—January
February
March
April
May
June*
July

383.9
387.9
388.8
392.6
393.9
392.5r
394.8

323.1
327.1
328.1
331.4
333.9
332.6r
333.6

15.3
15.4
14.8
14.9
15.5
15.3r
15.5

Month-end

Total unused
commitments 1

total

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.
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 V» 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
http://fraser.stlouisfed.org/ commitments.
Federal Reserve Bank of St. Louis

147.8
150.3
153.4
157.1
160.3
164.6r
166.8

12.9
13.8
13.6
14.7
14.6
10.6
9.7

confirmed
lines 5
152.2
154.7
152.2
151.4
150.5
148.6
148.1
148.9
149.5
148.7
148.0
148.8
147.1
147.6
146.3
144.7
143.5
142.lr
141.6

To nonbank
financial
institutions
59.0
58.8
59.0
58.2
59.2
59.4
60.5
60.6
60.3
60.8
61.1
60.7 '
60.8
60.8
60.7
61.2
60.0
59.9r
61.2

*Bank r e c l a s s i f i c a t i o n s of unused loan commitments produced breaks i n s e r i e s i n May and
September 1982 and i n June 1983. In May 1982,
c o r r e c t i o n s lowered unused commitments to nonbank
f i n a n c i a l i n s t i t u t i o n s by $ 0 . 3 b i l l i o n and to commercial and i n d u s t r i a l (C&l) firms by $1.0 b i l l i o n .
The c o r r e c t i o n of commitments to C&I firms included
a $0.6 b i l l i o n drop i n term loan commitments, an
i n c r e a s e of $1.7 b i l l i o n i n r e v o l v i n g c r e d i t commitments, and d e c l i n e s of $ 0 . 1 b i l l i o n and $2.0 b i l l i o n
i n "other" and c o n f i r m e d - l i n e commitments, r e s p e c tively.
In September, c o r r e c t i o n s lowered unused
commitments to nonbank f i n a n c i a l i n s t i t u t i o n s by
$0.8 b i l l i o n and to C&I firms by $3.2 b i l l i o n . The
c o r r e c t i o n s to commitments to C&I firms included
r e d u c t i o n s of $0.4 b i l l i o n , $ 1 . 2 b i l l i o n , $ 1 . 1 b i l l i o n and $0.5 b i l l i o n i n term l o a n , r e v o l v i n g c r e d i t ,
c o n f i r m e d - l i n e and o t h e r commitments, r e s p e c t i v e l y .
In June 1983, commitments to nonbank f i n a n c i a l i n s t i t u t i o n s and to C&I firms were lowered by $0.8 b i l l i o n
and $3.0 b i l l i o n , r e s p e c t i v e l y . The c o r r e c t i o n of
commitments to C&I firms included a drop in term loan
commitments of $ 0 . 3 b i l l i o n , an i n c r e a s e of $ 2 . 5 b i l l i o n i n r e v o l v i n g c r e d i t commitments, and a d e c l i n e
of $ 5 . 3 b i l l i o n i n other commitments, r e s p e c t i v e l y .
R e v i s i o n s to back data are not a v a i l a b l e .

Table 2
O U T S T A N D I N G L O A N S MADE U N D E R C O M M I T M E N T S A T S E L E C T E D L A R G E B A N K S
Billions of dollars, seasonally adjusted
Month-end

Total loans
made under
commitments1

total

T o commercial and industrial f i r m s
formalized agreements
revolvingS
term 2
other*

confirmed
linesS

To nonbank
financial
institutions

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
48.6

51.9
52.0
53.5
56.0
57.0
59.5
58.5
60.1
61.9
62.9
62.7
64.4

13.6
14.4
13.9
14.3
14.8
14.5
15.5
15.1
12.0
11.5
11.3
11.2

35.3
35.2
35.7
35.8
37.0
36.3
36.2
37.1
36.7
36.1
34.5
32.9

21.0
21.4
21.8
21.8
21.3
21.3
21.3
22.0
19.4
18.7
18.8
19.3

1983—January
February
March
April
May
June*
July

176.7
176.4
176.1
172.8
171.8
168.9r
167.0

156.9
156.8
156.1
154.0
153.2
150.7r
149.3

48.4
48.6
49.0
48.4
48.6
48.5
48.7

62.7
63.9
62.9
62.3
61.4
62.1
60.7

11.1
11.2
10.9
10.8
10.9
8.2
8.3

34.7
33.1
33.3
32.5
32.3
31.9r
31.6

19.8
19.6
20.0
18.8
18.6
18.2
17.7

.

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 V» percent of loans made
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.
* S e p t e m b e r 1982 and J u n e 1 9 8 3 d a t a r e f l e c t
b r e a k s i n s e r i e s o w i n g t o bank r e c l a s s i f i c a t i o n s
of o u t s t a n d i n g l o a n s .
In September 1982, l o a n s
t o nonbank f i n a n c i a l i n s t i t u t i o n s and t o 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 w e r e l o w e r e d by $ 1 . 5 b i l l i o n
and $ 5 . 4 b i l l i o n , r e s p e c t i v e l y .
The c o r r e c t i o n o f
o u t s t a n d i n g c o m m e r c i a l and i n d u s t r i a l l o a n s r e d u c e d
term l o a n s by $ 0 . 8 b i l l i o n , r e v o l v i n g c r e d i t l o a n s
by $ 0 . 9 b i l l i o n , and o t h e r l o a n s by $ 3 . 7 b i l l i o n .
C o n f i r m e d - l i n e l o a n s w e r e r a i s e d by $ 0 . 1 b i l l i o n .
I n J u n e 1 9 8 3 , l o a n s t o nonbank f i n a n c i a l i n s t i t u t i o n s and t o 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 w e r e
l o w e r e d by $ 0 . 1 b i l l i o n and $ 1 . 6 b i l l i o n , r e s p e c tively.
The c o r r e c t i o n o f o u t s t a n d i n g c o m m e r c i a l
and i n d u s t r i a l l o a n s l o w e r e d term l o a n s by $ 0 . 3
b i l l i o n , r a i s e d r e v o l v i n g c r e d i t l o a n s by $ 1 . 5
b i l l i o n , and r e d u c e d o t h e r l o a n s by $ 2 . 8 b i l l i o n .
R e v i s i o n s t o back d a t a are n o t a v a i l a b l e .

Table 3
UNUSED COMMITMENTS
Billions of dollars, not seasonally adjusted
Month-end

Total unused
commitments 1

total

To commercial and industrial firms
formalized agreements
term 2
revolving3
other*

confirmed
linesS

To nonbank
financial
institutions

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

59.4
59.7
59.8
58.8
59.3
59.1
59.8
60.2
59.9
60.3
60.7
60.6

1983—January
February
March
April
May
June*
July

389.9
391.1
391.0
391.3
390.0
386.7r
390.1

328.7
329.4
329.5
329.5
330.0
327.lr
329.5

15.5
15.4
14.8
14.7
15.1
15.lr
14.9

151.1
151.8
154.2
156.2
156.8
160.5r
163.0

13.7
14.3
14.3
14.4
14.6
9.6
9.2

148.4
148.0
146.2
144.1
143.5
142.Or
142.3

61.2
61.7
61.5
61.9
60.0
59.6r
60.5

NOTE: See Table 1 for footnotes.




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

1982—January
February
March
April
May
June
July
August
September
October
November
December
1983—January
February
March
April
May
June*
July

NOTE: See Tqble 2 for footnotes.




total

To commercial and industrial firms
formalized agreements"
term 2
revolving 3
other*

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

175.5
175.2
175.9
172.3
170.8
169.3r
166.6

156.1
156.0
156.0
153.9
152.4
150.9r
148.9

48.6
48.6
48.8
48.5
48.4
48.5
49.0

62.6
63.8
63.3
62.2
61.3
62.0
60.5

13.8
14.1
13.9
14.5
14.9
14.7
14.9
14.7
11.9
11.6

11.6

11.5

11.2
11.0
10.9
10.9
10.9
8.3

8.0

confirmed
Iines5

To nonbank
financial
institutions

34.3
34.6
35.5
35.4
36.4
36.6
36.0
36.4
37.2
36.7
35.6
33.9

21.6
21.3
22.0
19.6
19.1
19.2
19.7

33.7
32.6
33.1
32.2
31.8
32.2r
31.4

19.4
19.2
19.8
18.4
18.4
18.4
17.7

20.5
20.9
21.6
21.3

21.0