Board of Governors of the Federal Reserve System

Survey of Terms of Business Lending - E.2

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Release Date: April 1, 2014

E.2 Survey of Terms of Business Lending
FEBRUARY 3-7, 2014

1. Commercial and industrial loans made by all commercial banks 1
Maturity/repricing
interval 2 and
risk 3 of loans
Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity 5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
Made under
participation
or syndication 7
Percent
made under
commitment
Average
months
since loan
terms set 8
 Days 
1.  All C&I loans 2.25 130,327 874 843 35.6 26.4 13.0 0.2 53.2 86.1 12.3
Minimal risk 1.75 2,189 986 700 34.1 26.8 17.5 0.1 44.8 85.6 4.6
Low risk 1.46 30,742 2,011 677 32.4 29.4 5.9 0.1 46.3 90.2 11.8
Moderate risk 2.25 54,394 782 827 31.9 19.2 13.3 0.2 56.6 89.5 15.0
Other 2.64 37,256 741 935 43.2 29.3 14.3 0.2 50.7 75.8 8.5
 
2.  Zero interval 2.95 25,307 392 858 51.8 28.4 47.1 0.4 45.7 95.7 13.8
Minimal risk 1.77 688 796 823 58.2 12.1 50.5 0.2 31.3 94.5 4.3
Low risk 2.03 4,451 841 831 32.0 44.5 27.6 0.2 58.7 97.4 11.6
Moderate risk 3.01 11,478 381 854 51.7 25.4 48.3 0.5 42.5 94.9 15.4
Other 3.36 8,081 324 888 59.0 22.5 52.9 0.4 46.3 96.1 13.9
 
3.  Daily 1.17 23,578 1,794 349 44.8 41.2 2.6 0.0 30.5 55.4 17.6
Minimal risk 1.28 196 722 195 28.0 71.4 5.6 0.0 6.3 28.3 1.2
Low risk 1.06 6,195 4,111 219 40.8 33.8 1.3 0.0 20.6 67.4 21.3
Moderate risk 1.43 9,196 2,423 664 25.4 20.9 2.6 0.1 60.3 76.9 18.0
Other 0.87 7,869 2,233 80 70.4 70.7 2.2 0.0 4.3 20.8 6.9
 
4.  2 to 30 days 1.92 59,107 1,189 859 30.4 23.2 6.1 0.1 59.8 90.6 12.5
Minimal risk 1.03 575 3,231 377 15.2 60.6 1.0 0.0 30.5 80.9 3.9
Low risk 1.40 18,395 3,203 789 27.5 23.2 2.1 0.0 53.6 96.7 9.3
Moderate risk 1.99 27,582 1,021 931 27.3 16.9 4.0 0.1 67.6 90.7 16.0
Other 2.59 11,086 771 850 41.4 29.4 6.7 0.1 51.5 79.7 9.9
 
5.  31 to 365 days 3.66 17,260 1,281 1,307 11.8 7.5 2.0 0.2 68.4 97.4 3.4
Minimal risk 2.74 145 198 202 63.5 5.2 10.4 0.3 32.7 86.4 9.9
Low risk 1.97 878 457 610 44.6 24.5 2.0 0.4 25.2 74.4 7.2
Moderate risk 2.97 4,847 1,069 339 13.7 15.3 2.3 0.3 24.1 97.2 4.6
Other 3.42 9,504 1,830 1,728 7.2 1.8 0.6 0.1 91.0 99.3 2.8
 Months 
6.  More than 365 days 3.24 3,867 496 46 59.4 32.6 9.9 0.8 69.2 87.9 12.8
Minimal risk 2.24 562 3,408 38 19.9 1.4 0.6 0.0 94.4 98.8 4.7
Low risk 2.71 401 606 39 42.1 18.1 19.2 0.7 67.7 91.2 16.2
Moderate risk 3.96 1,271 332 48 65.1 17.9 16.9 1.7 44.1 79.0 10.9
Other 4.26 710 330 47 73.7 12.1 11.6 1.0 62.7 80.3 11.7
Size of loan
($ thousands)
  Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
 
7.  10 - 99 3.90 3,491 3.3 91 89.9 8.9 56.7 1.8 10.6 77.7 10.1
8.  100 - 999 3.44 12,692 3.2 94 81.6 17.6 51.6 0.8 21.0 83.8 12.7
9.  1,000 - 9,999 2.57 24,806 3.1 123 46.9 25.4 24.7 0.2 54.6 93.5 16.2
10.  10,000+ 1.93 89,337 3.0 40 23.8 28.5 2.5 0.0 59.0 84.7 11.2
Base rate of loan 9   Average
loan size
($ thousands)
 
11.  Prime 10 3.97 16,883 3.2 39 72.3 12.4 208 0.7 35.9 85.1 12.6
12.  Other 1.99 113,444 3.0 66 30.1 28.4 1,669 0.1 55.8 86.2 12.3

2. Commercial and industrial loans made by domestic banks 1
Maturity/repricing
interval 2 and
risk 3 of loans
Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity 5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
Made under
participation
or syndication 7
Percent
made under
commitment
Average
months
since loan
terms set 8
 Days 
1.  All C&I loans 2.62 96,821 664 1,031 31.2 12.7 16.6 0.2 64.0 95.4 12.8
Minimal risk 1.84 1,201 587 750 53.0 21.3 31.8 0.2 33.7 94.5 5.3
Low risk 1.61 20,615 1,398 838 22.4 12.0 8.1 0.1 60.4 96.2 14.1
Moderate risk 2.45 45,656 668 931 31.3 11.1 15.3 0.3 62.7 95.2 15.5
Other 3.35 25,427 518 1,327 35.1 10.6 20.1 0.3 70.5 95.0 8.5
 
2.  Zero interval 2.92 24,875 388 853 51.7 28.9 46.3 0.4 45.4 95.6 13.6
Minimal risk 1.77 688 798 823 58.2 12.1 50.5 0.2 31.3 94.5 4.3
Low risk 2.00 4,373 832 826 32.1 45.3 26.3 0.2 58.0 97.4 11.6
Moderate risk 3.00 11,319 378 851 52.0 25.8 47.6 0.5 42.2 94.8 15.2
Other 3.32 7,886 319 883 58.5 23.1 51.9 0.5 46.3 96.0 13.6
 
3.  Daily 1.93 8,580 681 845 16.5 0.3 7.2 0.1 77.1 98.3 24.9
Minimal risk 2.47 31 132 927 97.4 0.6 35.7 0.0 1.7 97.4 2.2
Low risk 1.55 2,095 1,466 494 12.7 0.6 4.0 0.0 53.0 99.9 38.4
Moderate risk 1.82 5,902 1,632 955 12.1 0.2 4.0 0.1 88.8 98.0 21.0
Other 4.07 431 132 863 68.9 1.0 39.5 0.4 54.1 94.4 16.5
 
4.  2 to 30 days 2.11 44,721 928 1,020 28.5 8.8 7.7 0.1 70.3 94.6 13.7
Minimal risk 0.71 271 2,410 318 24.2 58.8 2.0 0.0 30.2 99.8 6.2
Low risk 1.45 13,164 2,423 898 19.9 2.4 2.9 0.0 64.0 96.2 11.1
Moderate risk 2.15 22,701 859 1,066 27.9 6.5 4.9 0.1 75.2 95.1 16.8
Other 3.18 7,295 525 1,223 41.3 10.7 10.2 0.1 70.2 89.4 10.2
 
5.  31 to 365 days 3.72 16,322 1,243 1,342 10.5 5.0 1.9 0.2 69.7 98.4 3.1
Minimal risk 2.84 120 172 213 70.1 5.0 12.6 0.3 38.9 83.5 12.3
Low risk 2.14 648 347 608 38.4 19.8 2.8 0.5 20.2 82.7 8.2
Moderate risk 3.00 4,520 1,025 305 13.3 11.3 2.1 0.4 22.1 97.4 4.0
Other 3.41 9,226 1,810 1,766 6.2 0.4 0.6 0.1 92.9 99.9 2.6
 Months 
6.  More than 365 days 3.87 2,265 307 47 62.7 11.8 9.5 1.4 54.9 79.3 11.5
Minimal risk 4.21 92 661 71 61.0 8.6 3.4 0.3 65.8 92.6 3.1
Low risk 2.51 303 500 38 27.4 2.6 4.1 0.9 78.6 88.3 17.4
Moderate risk 3.96 1,193 317 48 63.6 13.2 12.1 1.8 46.3 77.7 10.9
Other 4.22 584 285 47 74.5 9.3 8.7 1.2 60.0 76.0 11.5
Size of loan
($ thousands)
  Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
 
7.  10 - 99 3.90 3,481 3.3 91 90.0 8.8 56.7 1.8 10.5 77.7 10.1
8.  100 - 999 3.46 12,176 3.2 87 83.2 16.3 52.6 0.9 19.6 83.6 12.7
9.  1,000 - 9,999 2.69 19,712 3.1 97 47.4 18.0 28.3 0.3 57.2 96.5 16.7
10.  10,000+ 2.36 61,452 3.0 37 12.3 10.5 3.5 0.0 78.1 98.4 11.7
Base rate of loan 9   Average
loan size
($ thousands)
 
11.  Prime 10 3.97 16,117 3.2 27 73.6 11.7 200 0.7 35.0 84.5 12.3
12.  Other 2.35 80,704 3.0 64 22.7 12.8 1,235 0.1 69.8 97.6 12.9

3. Commercial and industrial loans made by large domestic banks 1
Maturity/repricing
interval 2 and
risk 3 of loans
Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity 5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
Made under
participation
or syndication 7
Percent
made under
commitment
Average
months
since loan
terms set 8
 Days 
1.  All C&I loans 2.56 91,600 814 1,040 29.5 13.1 15.1 0.1 65.2 95.8 13.0
Minimal risk 1.59 1,045 998 768 46.8 23.8 32.2 0.1 34.8 95.8 4.8
Low risk 1.57 20,270 1,685 844 21.4 12.1 7.3 0.0 61.1 96.3 14.2
Moderate risk 2.36 43,849 825 937 29.1 11.3 13.6 0.0 64.5 95.6 16.0
Other 3.40 22,688 622 1,367 34.8 11.4 18.1 0.1 71.4 95.2 7.8
 
2.  Zero interval 2.90 21,657 454 859 52.8 32.7 46.1 0.2 43.7 95.7 13.8
Minimal risk 1.67 659 1,139 815 56.6 12.2 48.8 0.2 32.5 94.4 4.4
Low risk 1.95 4,230 970 842 30.5 46.8 24.6 0.1 59.5 97.3 11.7
Moderate risk 2.91 10,527 460 880 49.7 27.4 45.8 0.2 43.6 95.2 15.9
Other 3.60 5,712 335 842 71.1 30.7 57.9 0.2 36.3 95.8 12.8
 
3.  Daily 1.81 8,211 890 861 13.2 0.1 3.5 0.0 79.8 98.4 25.8
Minimal risk 2.24 27 155 1,098 97.0 0.7 26.1 0.1 1.9 96.9 2.2
Low risk 1.50 2,052 1,919 482 11.4 0.1 2.3 0.0 54.1 100.0 39.1
Moderate risk 1.73 5,723 2,810 975 9.7 0.1 1.2 0.0 91.3 97.9 21.5
Other 3.86 320 157 975 60.6 0.3 22.5 0.3 68.2 95.3 19.4
 
4.  2 to 30 days 2.10 44,421 978 1,022 28.1 8.8 7.5 0.0 70.6 94.6 13.8
Minimal risk 0.61 258 3,880 315 20.5 61.7 0.0 0.0 31.7 99.8 6.5
Low risk 1.45 13,146 2,589 898 19.8 2.4 2.9 0.0 64.1 96.2 11.1
Moderate risk 2.14 22,565 905 1,069 27.6 6.5 4.7 0.0 75.5 95.1 16.9
Other 3.18 7,162 552 1,230 40.8 10.8 9.9 0.1 70.9 89.2 10.3
 
5.  31 to 365 days 3.69 15,819 1,967 1,368 8.1 5.1 1.0 0.0 71.1 99.0 3.0
Minimal risk 1.65 32 162 163 11.3 19.0 13.5 0.0 21.7 83.2 3.5
Low risk 1.74 555 438 666 28.3 22.8 1.7 0.0 20.1 84.7 9.1
Moderate risk 2.89 4,325 1,855 281 10.5 11.8 0.5 0.0 22.1 98.5 4.1
Other 3.40 9,113 2,487 1,784 5.3 0.4 0.1 0.0 93.8 99.9 2.5
 Months 
6.  More than 365 days 3.29 1,449 714 46 45.0 12.1 2.0 0.5 72.7 84.7 16.4
Minimal risk 4.14 69 2,009 73 48.4 3.6 4.5 0.0 86.1 100.0 3.5
Low risk 2.17 263 1,063 39 16.6 2.7 1.2 1.0 86.4 91.7 18.8
Moderate risk 3.19 696 784 48 42.5 15.7 1.0 0.2 68.5 79.4 18.2
Other 3.95 378 556 42 63.8 5.0 3.7 0.8 75.5 87.3 14.7
Size of loan
($ thousands)
  Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
 
7.  10 - 99 3.58 2,634 3.3 32 91.7 9.8 54.2 1.0 6.3 76.0 11.3
8.  100 - 999 3.28 10,098 3.2 49 83.4 18.0 51.2 0.2 18.3 83.6 14.1
9.  1,000 - 9,999 2.62 18,787 3.1 73 45.9 18.7 27.2 0.1 58.7 96.6 17.3
10.  10,000+ 2.37 60,081 3.0 38 12.5 10.7 3.5 0.0 77.6 98.4 11.6
Base rate of loan 9   Average
loan size
($ thousands)
 
11.  Prime 10 3.89 13,820 3.2 7 72.7 13.0 235 0.3 37.4 83.6 13.4
12.  Other 2.32 77,780 3.0 53 21.8 13.1 1,449 0.0 70.1 97.9 12.9

4. Commercial and industrial loans made by small domestic banks 1
Maturity/repricing
interval 2 and
risk 3 of loans
Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity 5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
Made under
participation
or syndication 7
Percent
made under
commitment
Average
months
since loan
terms set 8
 Days 
1.  All C&I loans 3.64 5,221 157 868 61.0 4.7 44.0 2.9 44.4 89.7 9.6
Minimal risk 3.55 157 157 627 94.0 5.1 29.4 0.4 26.4 85.7 9.5
Low risk 3.93 345 127 487 83.4 4.4 54.0 3.0 16.7 87.7 5.3
Moderate risk 4.54 1,806 119 785 85.4 5.4 55.3 5.6 20.1 85.1 3.3
Other 2.94 2,740 217 996 37.7 4.4 36.5 1.5 63.1 93.4 14.2
 
2.  Zero interval 3.08 3,217 196 813 44.2 3.2 47.1 2.3 56.9 94.8 12.6
Minimal risk 4.08 29 102 1,071 94.6 9.4 88.8 0.2 3.1 95.8 3.9
Low risk 3.43 143 159 250 78.7 0.2 78.2 4.9 11.6 99.5 6.9
Moderate risk 4.17 793 112 342 82.5 3.8 71.9 5.6 23.1 89.4 5.3
Other 2.59 2,174 284 991 25.4 3.2 36.1 1.1 72.3 96.6 15.7
 
3.  Daily 4.58 370 110 463 88.5 4.5 90.9 1.6 17.1 96.4 4.4
Minimal risk ... ... ... ... ... ... ... ... ... ... ...
Low risk 3.84 43 118 1,187 71.6 24.1 84.7 0.0 1.0 98.8 4.0
Moderate risk 4.56 179 113 304 87.6 1.8 92.2 2.9 8.8 98.0 3.1
Other 4.67 112 91 525 92.7 2.9 88.4 0.4 13.5 91.8 8.2
 
4.  2 to 30 days 3.45 299 106 715 79.7 8.1 32.5 5.6 29.4 97.2 4.5
Minimal risk ... ... ... ... ... ... ... ... ... ... ...
Low risk 3.55 18 49 761 76.1 12.4 68.4 0.0 10.2 98.6 3.5
Moderate risk 3.80 136 90 613 87.4 11.2 33.6 10.3 28.7 94.9 4.2
Other 3.14 133 147 854 70.4 5.2 25.5 2.1 35.6 99.1 5.4
 
5.  31 to 365 days 4.59 503 99 493 83.3 2.4 29.0 6.0 26.4 79.6 7.4
Minimal risk 3.27 88 176 231 91.3 0.0 12.3 0.5 45.1 83.6 15.5
Low risk 4.52 93 155 261 98.8 1.7 8.7 3.6 20.3 70.5 1.6
Moderate risk 5.31 195 94 855 74.6 0.8 37.9 8.2 21.7 73.7 0.4
Other 4.34 114 79 306 77.3 4.3 41.5 9.1 25.0 94.8 14.9
 Months 
6.  More than 365 days 4.90 816 153 49 94.2 11.2 22.9 3.1 23.2 69.7 0.8
Minimal risk 4.42 23 217 61 99.1 23.7 0.0 1.1 4.0 70.0 1.6
Low risk 4.78 40 110 32 99.5 2.1 23.2 0.0 26.8 65.7 4.3
Moderate risk 5.03 498 173 48 93.0 9.6 27.8 4.1 15.4 75.2 0.2
Other 4.71 206 151 56 94.2 17.3 17.9 2.0 31.6 55.5 2.2
Size of loan
($ thousands)
  Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
 
7.  10 - 99 4.89 848 3.3 275 84.5 5.9 64.5 4.5 23.3 83.0 6.6
8.  100 - 999 4.31 2,078 3.3 271 82.1 7.7 59.5 4.0 25.9 83.3 5.8
9.  1,000 - 9,999 4.03 925 3.1 574 77.5 4.0 50.7 3.5 28.0 94.8 4.5
10.  10,000+ ... ... ... ... ... ... ... ... ... ... ...
Base rate of loan 9   Average
loan size
($ thousands)
 
11.  Prime 10 4.48 2,298 3.4 148 78.5 4.1 106 3.2 20.5 89.8 6.5
12.  Other 2.98 2,924 3.5 337 47.2 5.2 251 2.7 63.2 89.5 12.0

5. Commercial and industrial loans made by U.S. branches and agencies of foreign banks 1
Maturity/repricing
interval 2 and
risk 3 of loans
Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity 5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
Made under
participation
or syndication 7
Percent
made under
commitment
Average
months
since loan
terms set 8
 Days 
1.  All C&I loans 1.19 33,505 10,153 312 48.4 65.9 2.3 0.0 21.8 59.1 10.2
Minimal risk 1.63 988 5,720 639 11.2 33.4 0.0 0.0 58.4 74.8 3.4
Low risk 1.14 10,128 18,682 356 52.8 64.9 1.4 0.0 17.7 77.9 5.9
Moderate risk 1.20 8,738 7,576 311 34.5 61.6 3.0 0.0 24.7 60.1 10.4
Other 1.10 11,829 10,191 142 60.6 69.3 1.8 0.0 8.1 34.5 8.3
 
2.  Zero interval 4.41 432 933 1,081 54.6 0.0 97.4 0.0 62.8 100.0 22.7
Minimal risk ... ... ... ... ... ... ... ... ... ... ...
Low risk 3.88 79 2,113 1,056 27.6 0.0 100.0 0.0 100.0 100.0 14.6
Moderate risk 4.13 159 726 1,058 36.6 0.0 99.2 0.0 62.5 100.0 25.7
Other 4.84 195 950 1,111 80.0 0.0 95.0 0.0 48.0 100.0 23.5
 
3.  Daily 0.73 14,998 27,445 82 61.1 64.6 0.0 0.0 3.9 30.8 4.3
Minimal risk 1.05 165 4,446 147 15.0 84.7 0.0 0.0 7.1 15.3 0.0
Low risk 0.80 4,101 52,109 92 55.2 50.7 0.0 0.0 4.0 50.7 4.2
Moderate risk 0.74 3,294 18,528 160 49.4 58.0 0.1 0.0 9.3 39.1 5.0
Other 0.68 7,438 29,419 42 70.5 74.7 0.0 0.0 1.4 16.5 3.7
 
4.  2 to 30 days 1.33 14,386 9,655 387 36.5 68.2 0.9 0.0 26.9 78.1 7.7
Minimal risk 1.31 304 4,639 429 7.1 62.1 0.0 0.0 30.8 64.1 0.7
Low risk 1.28 5,232 16,855 524 46.7 75.5 0.0 0.0 27.3 98.0 4.8
Moderate risk 1.28 4,881 8,480 340 24.6 65.1 0.2 0.0 32.3 70.0 11.4
Other 1.45 3,792 7,564 228 41.4 65.4 0.0 0.0 15.6 61.0 9.1
 
5.  31 to 365 days 2.61 938 2,751 705 35.0 50.4 4.2 0.1 44.5 80.1 9.7
Minimal risk 2.29 25 723 152 32.5 5.8 0.0 0.0 3.5 100.0 0.1
Low risk 1.49 230 4,386 617 61.8 37.9 0.0 0.0 39.3 49.7 2.5
Moderate risk 2.68 327 2,668 810 19.0 70.2 5.4 0.0 52.0 94.2 14.3
Other 3.49 278 2,888 442 41.3 47.3 0.0 0.0 28.0 80.1 10.4
 Months 
6.  More than 365 days 2.36 1,602 3,739 44 54.7 62.1 10.4 0.0 89.6 100.0 14.3
Minimal risk 1.85 470 17,919 32 12.0 0.0 0.0 0.0 100.0 100.0 5.0
Low risk 3.32 98 1,733 43 87.1 65.8 65.8 0.0 34.2 100.0 12.9
Moderate risk 4.02 77 1,312 45 87.9 91.0 91.0 0.0 9.0 100.0 10.4
Other 4.43 126 1,204 46 69.8 24.9 24.9 0.0 75.1 100.0 12.7
Size of loan
($ thousands)
  Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
 
7.  10 - 99 3.66 10 3.3 185 48.7 37.9 58.7 0.0 49.2 90.3 17.3
8.  100 - 999 2.93 516 3.2 253 44.1 50.1 27.3 0.2 54.6 88.4 13.9
9.  1,000 - 9,999 2.11 5,094 3.1 227 44.7 54.3 10.5 0.0 44.5 81.7 13.6
10.  10,000+ 0.98 27,885 3.0 46 49.2 68.4 0.3 0.0 17.1 54.4 9.1
Base rate of loan 9   Average
loan size
($ thousands)
 
11.  Prime 10 3.84 765 3.1 296 46.4 26.2 1,148 0.2 54.4 98.4 17.4
12.  Other 1.12 32,740 3.0 73 48.5 66.9 12,433 0.0 21.1 58.1 9.9

6. Commercial and industrial loans by date pricing terms were set and commitment status
Time pricing terms
were set and loan
commitment status
Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
Percent of value of loans
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
Made under
participation
or syndication 7
All commercial banks
1.  During survey week 2.27 45,622 1,094 3.3 66 39.0 38.0 8.3 0.1 33.8
Not under commitment 1.36 18,135 650 3.3 52 74.6 42.9 13.9 0.1 2.1
Informal commitment 1.13 5,285 924 2.6 29 18.6 87.1 5.4 0.1 7.6
Formal commitment 3.28 22,202 2,743 3.5 86 14.9 22.4 4.4 0.2 65.9
2.  Before survey week 11  
Up to 90 days 1.86 20,942 862 2.6 76 23.3 31.4 11.4 0.2 59.6
91 to 365 days 2.47 24,055 472 3.0 47 42.7 14.7 22.2 0.4 56.2
More than 365 days 2.29 39,688 1,243 3.0 61 33.8 17.4 13.6 0.1 70.3
 
Domestic banks
3.  During survey week 3.60 24,279 600 3.5 117 25.8 11.8 15.4 0.3 58.3
Not under commitment 3.62 4,422 162 3.1 200 76.4 12.5 56.6 0.4 8.7
Informal commitment 3.00 858 157 2.8 143 72.7 24.1 31.4 0.6 20.6
Formal commitment 3.62 19,000 2,458 3.6 97 11.9 11.0 5.1 0.2 71.5
4.  Before survey week 11  
Up to 90 days 1.97 15,950 672 2.6 47 23.7 17.5 14.6 0.3 65.3
91 to 365 days 2.49 22,518 445 3.0 35 43.0 12.7 22.4 0.4 56.7
More than 365 days 2.31 34,067 1,104 3.0 35 30.7 11.0 14.6 0.1 72.4
 
Large domestic banks
5.  During survey week 3.54 22,195 807 3.5 76 21.6 12.3 13.3 0.1 60.1
Not under commitment 3.38 3,882 178 3.1 125 75.5 13.2 58.4 0.3 4.9
Informal commitment 1.95 507 323 2.6 37 64.0 36.9 8.3 0.0 25.1
Formal commitment 3.61 17,806 4,245 3.6 67 8.6 11.4 3.6 0.1 73.1
6.  Before survey week 11  
Up to 90 days 1.88 15,283 816 2.6 42 21.1 18.0 12.5 0.1 67.7
91 to 365 days 2.40 21,361 553 3.0 35 41.0 13.0 19.8 0.1 58.3
More than 365 days 2.32 32,761 1,185 2.9 36 31.2 11.4 14.5 0.0 71.9
 
Small domestic banks
7.  During survey week 4.25 2,085 161 3.3 550 71.2 5.8 38.4 2.0 38.6
Not under commitment 5.34 540 97 3.2 734 82.4 7.9 43.3 1.2 36.1
Informal commitment 4.53 351 90 3.0 297 85.3 5.5 64.9 1.5 14.2
Formal commitment 3.68 1,194 338 3.4 540 62.0 4.9 28.4 2.5 46.9
8.  Before survey week 11  
Up to 90 days 4.02 667 134 3.1 167 82.6 6.1 63.4 4.6 11.2
91 to 365 days 4.09 1,156 97 3.4 37 79.7 6.4 71.9 5.9 27.3
More than 365 days 2.05 1,306 409 3.8 18 17.1 1.0 18.3 1.0 86.2
 
Foreign banks
9.  During survey week 0.76 21,343 17,667 3.1 8 54.1 67.9 0.1 0.0 6.0
Not under commitment 0.63 13,713 23,264 3.4 5 74.0 52.7 0.1 0.0 0.0
Informal commitment 0.77 4,427 17,312 2.5 7 8.1 99.3 0.3 0.0 5.1
Formal commitment 1.29 3,202 8,825 2.8 24 32.2 89.6 0.2 0.0 32.8
10.  Before survey week 11  
Up to 90 days 1.52 4,993 8,587 2.6 167 22.3 75.7 1.1 0.0 41.3
91 to 365 days 2.29 1,537 3,481 3.1 221 39.1 44.1 18.0 0.0 48.3
More than 365 days 2.20 5,621 5,270 2.8 261 52.7 55.9 7.1 0.0 57.6

7. Commercial and industrial loans backed by the SBA 6
Backed by SBA Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
Percent of value of loans
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
Made under
participation
or syndication 7
1.  All banks 4.63 219 93 3.3 238 50.5 43.6 50.7 31.9
2.  Domestic banks 4.63 218 93 3.3 239 50.3 43.8 50.4 31.5
3.  Large domestic banks 5.30 65 73 3.3 276 74.9 44.9 57.5 0.0
4.  Small domestic banks 4.35 153 106 3.3 224 39.8 43.4 47.4 44.8
5.  Foreign banks ... ... ... ... ... ... ... ... ...

8. Commercial and industrial loans made under participation or syndication 7
Loans made under participation Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
Percent of value of loans
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
1.  All banks 2.44 69,323 3,141 3.1 78 19.0 16.8 8.7 0.1
2.  Domestic banks 2.50 62,004 3,016 3.1 54 18.2 10.5 9.1 0.1
3.  Large domestic banks 2.49 59,684 4,521 3.1 50 17.8 10.9 8.7 0.0
4.  Small domestic banks 2.73 2,320 315 3.7 134 28.7 1.4 20.3 3.0
5.  Foreign banks 1.95 7,319 4,846 2.6 312 26.0 69.8 5.7 0.0

Summary statistics All
commercial
banks
Domestic
banks
Large
domestic
banks
Small
domestic
banks
Foreign
banks
1.  Average reported prime rate 3.36 3.37 3.36 3.39 3.20
2.  Standard error of loan rate .13 .12 .12 .33 .19

The Survey of Terms of Business Lending collects data on gross loan extensions made during the first full business week in the middle 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. 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.

Footnotes

1. As of December 31, 2013 , assets of the large banks were at least $4.7 billion. Median total assets for all insured banks were roughly $162 million. Assets at all U.S. branches and agencies averaged 10.3 billion.

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. Because of weekends and holidays, such loans may have maturity/repricing intervals in of more thanone day; nevertheless, such loans are not included in the 2 to 30 day category.

3. A complete description of these risk categories is available in the survey instructions, available at http://www.federalreserve.gov/apps/reportforms/reportdetail.aspx?sOoYJ+5BzDaSCesXTb1UmHCoyU8rIHWr. 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 ratings published for loans in rows 31-39 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.

4. Effective (compounded) annual interest rates are calculated from the stated rate and other terms of the loans and weighted by loan amount. For the standard error of the loan rate for all C&I loans in the current survey (tables 1-5, line 1, column 1), see the summary statistics table. The chances are about two out of three that the average rate shown will differ by less than this amount from the average rate that would be found by a complete survey of the universe of all banks.

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

6. Loans guaranteed, either in part or in whole, by the Small Business Association (SBA). http://www.sba.gov/category/navigation-structure/loans-grants/small-business-loans/sbas-role

7. The terms "syndication" and "participation" encompasses a variety of arrangements among institutions to make loans. When each participating lender agrees in advance to fund and be at risk only up to a specified percentage of the total credit and the contract is executed by all participants and the borrower, the arrangement is often referred to as a syndication. When a lead lender originates the transaction and is the only party to the contract with the borrower and sells shares as prearranged with others, the arrangement is referred to as a participation. All loans made under either arrangements, whether or not the lender is the originator, are included.

8. 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.

9. Prime-based loans are based on the lending bank's own prime rate, any other lender's prime rate, a combintation 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 (e.g., the federal funds rate or LIBOR) and loans for which no base rate is used to determine the loan rate.

10. See the summary statistics tables for the average reported prime rate weighted by the dollar value of loans priced relative to a prime base rate.

11. For loans made under formal commitments.

... The number of loans was insufficient to provide a meaningful value.
Last update: April 1, 2014