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j FEDERAL RESERVE statistical release ?*Al_ For immediate release September 8, 1986 G.21 (423) Series Break & The series on unused loan commitments has been substantially revised back through March. Because orior revisions are unavailable, a series break occurs as of that month amounting to $8.1 billion for all # unused commitments. The bulk of this amount, 56.5 billion, is in unused^ revolving loan commitments. tables 1 and 3. # # I s # Further details are contained in footnotes to 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 adjusted Month-end For immediate release September 8, 1986 Total1 term2 Formalized agreements revolving3 other4 Confirmed lines5 198 4 — D e c emb er 365.7 15.8 192.7 8.8 148.4 1985—January February March April May June July August September October November* December 366.4 366.0 369.4 372.9 374.9 380.2 376.7 377.9 379.8 389.9 386.0 383.3r 16.3 15.5 15.8 16.2 16.4 17.5 17.0 17.0 19.0 18.4 17.3 17.4 194.5 197.0 197.9 201.2 203.4 207.4 207.0 208.4 209.6 216.0 217.2 217.4 8.7 8.3 8.9 9.0 9.5 9.8 9.2 8.9 9.3 9.5 8.8 8.3 146.8 145.3 146.8 146.5 145.6 145.4 143.5 143.6 141.9 146.0 142.8 140.2 1986—January February March** April May June July 382.7 380.0 383.7r 382.lr 379.lr 378.8r 373.1 17.3 17.1 18. lr 17.2r 16.9r 17.4r 17.1 217.8 216.8 221.2r 220.5r 218.8r 219.3r 215.8 8.3 7.5 7. 7r 8.3r 8.5r 8.9r 8.5 139.2 138.6 136.7 136.1 134.9 133.2r 131.7 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: Respondents number 115 commercial banks, reduced by mergers from 121 since November 1984. These mergers have not affected the consistency of the historical series. Individual items may not add to totals due to rounding. *A break in series caused declines of $2.5 billion in total loans, $0.4 billion in term loans, $1.5 billion in revolving credit, and $0.6 billion in confirmed lines. Historical data have not been revised. **A break in series caused increases of $8.1 billion in total loans, $1.4 billion in term loans, $6.5 billion in revolving credit, and $0.1 billion in other loans. Historical data have not been revised e Table 2 OUTSTANDING LOANS MADE UNDER COMMITMENTS AT SELECTED LARGE BANKS Billions of dollars, seasonally adjusted Month-end Total1 term2 Formalized agreements revolving3 other4 Confirmed lines5 1984—December 167.6 49.5 73.0 9.3 35.8 1985—January February March April May June July August September October November* December 167.3 171.0 171.4 170.9 172.1 171.7 173.0 173.6 173.4 171.8 171.0 170.Or 48.4 49.2 49.7 50.0 50.0 49.9 50.6 51.2 51.8 50.6 50.4 50.0 72.0 74.5 74.5 73.9 75.4 75.0 75.8 76.5 76.1 76.0 75.4 75.5 9.5 9.5 9.2 9.4 9.0 9.2 9.1 9.3 9.1 9.5 8.8 9. lr 37.3 37.9 33.1 37.6 37.7 37.7 37.5 36.6 36.4 35.7 36.5 35.4 1986—January February March April May June July 168.2 172.2 174.6r 172.5r 172.9r 177.lr 175.7 48.7 49.0 50.lr 50.3r 50. 5r 50.2r 50.0 74.6 77.9 77.8r 76. Or 76.4r 80. lr 78.9 9. Or 9. 2r 9.4r 9.2r 9.4r 9. Or 9.1 35.7 36.0 37.4 36.9 36.6 37.8 37.7 1. Loans made under commitments are outstanding loans to commercial and industrial firms, 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: Respondents number 115 commercial banks, reduced by mergers from 121 since November 1984. These mergers have not affected the consistency of the historical series. Individual items may not add to totals due to rounding. *A break In the series caused declines of $1.5 billion in total loans, 4.6 billion in term loans, $.5 billion in revolving credit, and $.2 billion in confirmed lines. Historical data have not been revised. Table 3 UNUSED COMMITMENTS Billions of dollars, not seasonally adjusted Month-end Total 1 term* Formalized agreements revolving* other4 Confirmed lines5 1984—December 367.0 16.1 193.1 8.9 149.0 1985—January February March April May June July August September October November* December 368.3 367.1 368.8 370.9 372.0 375.8 378.3 381.4 379.3 389.6 387.3 384.6r 16.2 15.4 15.9 16.1 16.3 17.4 17.2 17.3 18.6 18.3 17.5 17.7 194.9 196.4 196.3 199.0 200.4 204.9 208.5 212.1 211.1 217.7 218.7 217.8 9.1 8.8 8.9 9.1 9.4 9.0 8.6 8.8 9.1 9.4 8.8 8.3 148.1 146.6 147.7 146.6 145.9 144.4 144.0 143.2 140.5 144.3 142.2 140.8 1986—January February March** April May June July 384.6 380.9r 382.8r 379.8r 376.Or 374.4r 374.8 17.2 17.0 18.2r 17. lr 16.8r 17.2r 17.2 218.3 216.2 219.4r 218. lr 215.5r 216.7r 217.3 8.6r 8.0 7.7r 8.4r 8.4r 8.1 8.0 140.5 139.9 137.5 136.2 135.2 132.3r 132.2 NOTE: See Table 1 for footnotes. *See Table 1 for break in series. break adjustments are equal. After rounding, the seasonally and not seasonally adjusted * * A break in series caused increases of $8.0 billion in total loans, $1.5 billion in term loans, $6.4 billion in revolving credit, and $0.1 billion in other loans. Historical data have not been revised. Table 4 OUTSTANDING LOANS MADE UNO*# COMMITMENTS AT SELECTED LARGE BANKS Billions of dollars, not seasonally adjusted Month-end Total1 term* Formalized agreements revolving3 other* Confirmed lines8 19 84—Dec emb er 171.2 49.8 75.8 9.3 36.3 1985—January February March April May June July August September October November* December 168.4 170.2 171.5 171.0 171.4 171.1 170.5 170.7 174.4 171.7 172.3 173.7r 48.5 49.1 49.5 50.1 50.1 49.8 50.7 50.9 51.9 50.8 50.2 50.2 74.3 74.8 75.1 74.2 75.0 74.4 . 73.8 73.9 75.5 75.0 76.0 78.4 9.5 9.4 9.1 9.5 9.2 9.4 9.1 9.3 9.0 9.3 8.7 9.2r 36.2 36.9 37.7 37.2 37.2 37.5 36.9 36.7 38.0 36.7 37.5 35.8 1986—January February March April May June July 169.3r 171.3r 174.8r 172.6r 172.3r 172.6r 173.2 48.8 49.0 49.9r 50.4r 50. 5r 50. lr 50.2 76.9 78.2 78. 5r 76.3r 75.8r 79.6r 76.8 9.Or 9. lr 9.4r 9. 3r 9. 6r 9.2r 9.2 34.6 35.1 37.0 36.5 36.1 37.6 37.0 NOTE: See Table 2 for footnotes. *See Table 2 for break in series. break adjustments are equal. After rounding, the seasonally and not seasonally adjusted
@FedFRASER