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FEDERAL RESERVE statistical IIIIIJ H. 12 For immediate release February 14, 1968 COMMERCIAL AND INDUSTRIAL TERM LOANS OUTSTANDING BY INDUSTRY The attached publication H. 12(b) supplements the regular weekly Commercial and Industrial Loan (Business Loan) release (H.12) and is the first in a new monthly series showing commercial and industrial term loans outstanding by industry. Term loans are defined as all outstanding loans with an original maturity of more than one year and all outstanding loans granted under a formal agreement--revolving credit or standby--on which the original maturity of the commitment was in excess of one year. These data have not been published previously. Henceforth, the new report will be published regularly with a one week lag after the last Wednesday of each month as an attachment to the weekly total business loan release (H.12) for the same date. Term loans included in total business loans are reported once a month by the same group of about 150 large commercial banks that report such loans classified by industry in the weekly series. A description of this statistical series relating to commercial bank credit appeared in the February 1967 ^ issue of the Federal Reserve Bulletin. Maturity data on business loan portfolios of large commercial banks are of considerable analytical usefulness. They provide some indication of future pressures which might develop in the capital markets since some bank term loans are later funded in the capital market. Information on the maturity structure of business loan portfolios may also give some indication of the degree of flexibility available to banks in adjusting to changing money conditions, as well as of the relative availability of bank and capital market financing. Many firms utilize term loan credit for capital and equipment expenditures and do not fund their borrowings in the capital market. Since plant and equipment expenditures are known by category, term loan data by industry would permit the user to have a clearer idea of the relationship between this type of bank credit and business capital outlays. Maturity data is also useful in interpreting the interplay between specific capital market issues—whose industry classification is known—and extension of business credit by banks. COMMERCIAL AMD INDUSTRIAL LOANS OUTSTANDING AT A SAMPLE OF WEEKLY REPORTING LARGE COMMERCIAL BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED FEBRUARY 7; 1968 H.12(a) Business of Borrower Durable goods manufacturing - total Primary metals Machinery Transportation equipment Other fabricated metal products Other durable goods All Districts 11,114 1,488 4,304 1,753 1,650 1,919 Boston 454 39 200 71 77 67 Phila- Cleve- RichNew mond delphia land York 1,131 159 453 4,551 . 264 12 739 43 363 34 1,881 156 22 173 760 35 136 35 465 187 56 83 706 144 220 14 56 26 45 79 2,201 233 977 272 426 293 St. Louis 136 31 36 12 24 33 Atlanta Chicago Minneapolis 108 3 37 8 20 40 Kansas City 122 7 33 15 35 32 Dallas 254 37 66 24 71 56 San , FranciscoE' 1,325 66 465 335 129 330 Nondurable goods manufacturing - total Food, liquor, and tobacco Textiles, apparel, and leather Petroleum refining Chemicals and rubber Other nondurable goods 9,713 2,423 1,739 1,565 2,301 1,685 421 109 125 16 75 96 4,456 826 915 616 1,373 726 380 65 104 56 73 82 536 79 40 140 168 109 337 68 169 12 47 41 312 92 115 24 41 40 1,520 499 132 301 309 279 203 93 37 10 30 33 129 59 10 16 12 32 128 63 9 27 15 14 226 45 22 79 36 44 1,065 425 61 268 122 189 Mining (including crude petroleum and natural gas) 4,530 47 2,815 60 164 5 51 564 29 5 141 506 143 Trade - total Commodity dealers Other wholesale Retail 7,859 1,504 2,986 3,369 635 86 253 296 2,530 585 982 963 392 32 128 232 347 10 169 168 391 75 138 178 466 44 201 221 1,014 146 462 406 234 88 57 89 193 93 35 65 316 41 101 174 277 66 100 111 1,064 238 360 466 Transportation, communication, & other public utilities Transportation Communication Other public utilities 7,565 4,433 853 2,279 275 104 18 153 3,846 2,224 488 1,134 282 151 23 108 373 204 38 131 262 ' 154 45 63 266 184 18 64 948 550 83 315 187 118 19 50 98 54 10 34 121 63 21 37 216 112 18 86 691 515 72 104 Construction 2,499 79 594 152 166 194 206 154 68 38 101 309 438 Services 5,077 423 1,545 339 330 174 244 551 147 127 108 253 836 963 20 430 46 43 16 2 144 2 11 28 221 Foreign commercial and industrial loans 2,738 35 1,953 80 62 3 11 239 2 8 1 21 323 All other loans 6,689 87 1,124 10 274 163 82 384 82 2 29 87 4.365 58,747 2,476 23,844 2,194 3,426 1,704 1,860 7,719 1,090 708 1,078 2,177 10,471 6,167 335 914 163 544 498 484 1.084 224 64 249 479 1.129 Bankers' acceptances Total classified loans Total unclassified loans 24,758 64,914 2,811 Total commercial and industrial loans 2/ Preliminary. Final totals will appear in the F. R. Bulletin. * Classified Loans are as of January 31 - - 11.600 2,357 3,970 2,202 2,344 8,803 1,314 772 1.327 2,656 San Francisco District final figures appear in a release of that Reserve Bank.
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