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Statistical Supplement | August 2005

Statistical Supplement to the Federal Reserve Bulletin, August 2005

4.23  Terms of Lending at Commercial Banks, Survey of Loans Made, May 2-6, 2005 A. Commercial and industrial loans made by all commercial banks1
Maturity/repricing interval2 and risk of loans3 Weighted-average effective loan rate (percent)4 Amount of loans (millions of dollars) Average loan size (thousands of dollars) Weighted-average maturity5 Percent of amount of loans (percent) Commitment status
Secured by collateral Subject to prepayment penalty Prime based Percent made under commitment Average months since loan terms set6
Days
Loan Risk  
1 All commercial and industrial loans 4.83 70,178 396 531 41.9 24.3 33.2 79.3 12.0
2 Minimal risk 4.07 2,015 497 604 45.5 2.1 18.7 91.0 8.6
3 Low risk 4.04 11,166 1,012 384 16.5 37.0 17.6 85.9 16.0
4 Moderate risk 4.92 27,607 408 637 43.4 19.8 32.6 80.6 11.5
5 Other 5.27 19,744 347 439 51.2 22.0 38.0 75.5 13.2
 
  By maturity/repricing interval  
6 Zero interval 5.98 19,108 200 806 62.8 8.8 75.4 92.2 9.9
7 Minimal risk 5.47 225 204 1174 40.8 8.9 40.0 91.9 4.0
8 Low risk 4.87 1,546 377 611 50.1 11.8 44.7 96.4 12.1
9 Moderate risk 6.12 8,276 229 1023 61.3 3.7 76.7 93.5 10.2
10 Other 6.54 4,770 154 734 74.9 2.8 77.7 89.9 11.1
 
11 Daily 3.93 22,689 1,171 187 11.8 36.7 8.6 65.2 13.5
12 Minimal risk 4.07 568 781 126 32.4 1.4 34.3 83.4 3.4
13 Low risk 3.74 4,908 2,318 279 3.8 59.8 6.4 76.9 26.4
14 Moderate risk 3.95 8,556 1,070 248 16.3 23.1 9.0 69.8 9.3
15 Other 4.03 6,646 1,069 43 11.6 34.6 6.2 55.8 10.3
 
16 2 to 30 days 4.64 13,824 522 373 48.9 31.7 26.6 79.1 11.4
17 Minimal risk 3.79 257 937 667 20.8 .2 11.2 91.1 1.3
18 Low risk 3.83 3,013 1,988 342 11.3 28.0 13.6 92.4 8.9
19 Moderate risk 4.57 4,945 553 334 56.9 39.5 23.7 75.7 15.6
20 Other 5.29 4,523 350 374 66.3 26.4 37.9 78.9 10.2
 
21 31 to 365 days 5.00 9,352 451 625 51.7 18.4 20.6 85.6 16.5
22 Minimal risk 3.83 659 461 737 44.5 1.9 7.4 95.2 19.3
23 Low risk 4.79 1,256 588 460 21.5 12.3 29.5 91.0 6.9
24 Moderate risk 4.87 3,789 432 628 53.3 19.9 5.7 88.2 14.1
25 Other 5.64 2,777 772 654 69.6 19.2 43.4 89.2 24.7
  Months  
26 More than 365 days 5.45 4,189 321 50 51.5 20.7 28.0 78.0 9.5
27 Minimal risk 3.90 164 340 33 93.0 .1 8.9 91.9 6.3
28 Low risk 6.35 236 209 46 34.9 .7 76.2 90.9 4.0
28 Moderate risk 5.01 1,998 368 51 32.9 24.2 23.4 70.5 9.1
30 Other 6.41 955 405 50 79.0 19.1 41.9 83.5 15.5
  Weighted-average risk rating3 Weighted-average maturity/
repricing interval2
 
  Days  
Size of Loan (thousands of dollars)  
31 1-99 6.54 3,254 3.4 148 85.3 7.3 70.3 86.3 7.8
32 100-999 5.96 11,571 3.3 115 72.1 10.4 70.5 92.4 9.8
33 1,000-9,999 5.01 25,199 3.2 116 44.5 20.8 34.7 84.8 12.3
34 10,000 or more 4.07 30,154 3.0 74 23.4 34.3 13.7 68.8 13.4
  Average size (thousands of dollars)  
Base Rate of Loan7  
35 Prime 6.16 23,314 3.3 79 65.3 8.0 190 92.8 11
36 Other 4.17 46,864 3.0 110 30.2 32.4 857 72.5 13

Note. The Survey of Terms of Business Lending collects data on gross loan extensions made during the first full business week in the mid-month of each quarter. The authorized panel size for the survey is 348 domestically chartered commercial banks and 50 U.S. branches and agencies of foreign banks. The sample data are used to estimate the terms of loans extended during that week at all domestic commercial banks and all U.S. branches and agencies of foreign banks. Note that the terms on loans extended during the survey week may differ from those extended during other weeks of the quarter. The estimates reported here are not intended to measure the average terms on all business loans in bank portfolios. The data in this table also appear in the Board's E.2 statistical release.

1. As of March 31, 2003, assets of the large banks were at least $3.7 billion. Median total assets for all insured banks were roughly $93 million. Assets at all U.S. branches and agencies averaged $3.3 billion.   Return to table

2. The "maturity/repricing" interval measures the period from the date the loan is made until it first may be repriced or matures. For floating-rate loans that are subject to repricing at any time--such as many prime-based loans--the maturity/repricing interval is zero. For floating-rate loans that have a scheduled repricing interval, the maturity/repricing interval measures the number of days between the date the loan is made and the date on which it is next scheduled to reprice. For loans having rates that remain fixed until the loan matures (fixed-rate loans), the "maturity/repricing" interval measures the number of days between the date the loan is made and the date on which it matures. Loans that reprice daily mature or reprice on the business day after they are made. Owing to weekends and holidays, such loans may have "maturity/repricing" intervals in excess of one day; such loans are not included in the 2- to 30-day category.   Return to table

3. A complete description of these risk categories is available. The category "Moderate risk" includes the average loan, under average economic conditions, at the typical lender. The "Other" category includes loans rated "Acceptable" as well as special mention or classified loans. The weighted-average risk rating published for loans in rows 31-36 are calculated by assigning a value of "1" to minimal risk loans; "2" to low risk loans; "3" to moderate risk loans, "4" to acceptable risk loans; and "5" to special mention and classified loans. These values are weighted by loan amount and exclude loans with no risk rating. Some of the loans in table rows 1, 6, 11, 16, 21, 26, and 31-36 are not rated for risk.   Return to table

4. Effective (compounded) annual interest rates are calculated from the stated rate and other terms of the loans and weighted by loan amount. The standard error of the loan rate for all commercial and industrial loans in the current survey (line 1, column 1) is 0.22 percentage point. The chances are about two out of three that the average rate shown would differ by less than this amount from the average rate that would be found by a complete survey of the universe of all banks.   Return to table

5. Average maturities are weighted by loan amount and exclude loans with no stated maturities.   Return to table

6. For loans made under formal commitments, the average time interval between the date on which the loan pricing was set and the date on which the loan was made, weighted by the loan amount. For loans under informal commitment, the time interval is zero.   Return to table

7. Prime-based loans are based on the lending bank's own prime rate, any other lender's prime rate, a combination of prime rates, or a publicly reported prime rate. Loans with "other" base rates include loan rates expressed in terms of any other base rate (for example, the federal funds rate or libor) and loans for which no base rate is used to determine the loan rate.   Return to table

8. For loans made under formal commitments.   Return to table

* The number of loans was insufficient to provide a meaningful value.

Statistical Supplement | August 2005 | Tips for printing wide tables | Symbols and Abbreviations


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Last update: September 23, 2005