A.14. Survey of Terms of Bank Lending to Farmers, Selected Quarters Percent excpet as noted ______________________________________________________________________________________________________________ USDA Farm Production Region ______________________________________________________________________________________________________________ NE LS CB NP AP SE DL SP MN PA ______________________________________________________________________________________________________________ Proportion of farm loans outstanding, 2003 Q3 survey, region share of national total 2.6 9.3 28.1 17.6 8.3 4.8 5.3 8.6 5.9 9.2 Sample coverage, 2003 Q3 survey, sample share of total regional loans 16.1 5.8 20.3 12.6 23.2 17.5 10.0 4.9 10.3 53.7 Avg. loan size, 2003 Q4 survey (thousands of dollars) 31.5 31.3 64.0 34.1 130.5 77.6 129.2 47.9 28.9 103.0 ______________________________________________________________________________________________________________ Survey date Weighted average interest rate during sample week ______________________________________________________________________________________________________________ 1998 Q3 | 10.2 9.5 9.5 9.5 8.8 9.5 9.7 9.5 9.6 8.5 Q4 | 9.4 9.2 8.7 9.0 8.3 9.4 9.7 9.2 9.1 8.0 1999: Q1 | 8.4 8.9 8.9 9.1 8.2 9.0 9.6 9.1 9.0 7.5 Q2 | 9.6 9.1 8.8 9.0 8.0 9.0 9.8 9.0 8.7 8.0 Q3 | 10.2 8.9 8.7 9.3 8.2 8.9 10.0 8.8 9.0 8.5 Q4 | 9.1 9.2 8.8 9.4 8.3 8.8 9.8 9.0 9.5 8.8 2000: Q1 | 9.4 9.2 9.2 9.6 8.4 9.8 9.3 10.0 9.8 8.4 Q2 | 10.7 9.5 9.7 9.7 9.1 9.1 10.5 10.0 10.1 9.5 Q3 | 10.5 10.30 10.0 10.3 9.7 9.2 10.5 10.0 10.6 9.7 Q4 | 10.7 9.3 9.9 10.1 9.2 9.4 9.2 10.3 10.3 9.8 2001: Q1 | 9.3 9.1 9.4 9.7 8.4 7.8 9.5 9.0 9.8 8.8 Q2 | 8.2 8.7 8.3 8.8 7.4 8.1 8.3 9.2 8.6 7.9 Q3 | 8.3 9.8 7.9 8.2 6.3 7.6 8.7 8.8 7.8 7.2 Q4 | 6.9 7.9 6.3 7.0 5.2 6.3 8.7 7.6 6.1 5.2 | (.23) (.78) (.38) (.29) (.36) (1.71) (.42) (.79) (.33) (.35) 2002: Q1 | 6.9 7.8 6.7 7.2 5.2 5.5 7.3 7.4 6.8 4.9 | (.12) (.37) (.26) (.22) (.63) (1.14) (.39) (.45) (.26) (.25) Q2 | 6.8 7.4 6.4 7.2 5.0 5.9 7.6 7.5 6.5 5.1 | (.14) (.29) (.27) (.21) (.48) (1.03) (.23) (.34) (.36) (.26) Q3 | 6.4 7.5 5.8 6.5 4.6 6.0 7.5 7.3 6.5 5.3 | (.43) (.29) (.50) (.68) (.67) (1.19) (.34) (.68) (.41) (1.06) Q4 | 5.7 6.9 5.1 5.5 4.6 5.2 6.7 7.6 6.4 4.5 | (.35) (.45) (.47) (1.01) (.56) (.62) (.68) (.35) (.47) (.62) 2003: Q1 | 5.3 7.0 5.6 5.7 4.4 5.6 6.7 7.4 6.1 4.5 | (.15) (.26) (.31) (.73) (.65) (.63) (.54) (.66) (.35) (.40) Q2 | 6.0 6.7 5.3 6.5 4.6 6.1 7.3 5.7 6.4 5.2 | (.29) (.17) (.37) (.34) (.71) (.63) (.45) (.71) (.36) (.50) Q3 | 6.0 6.9 4.7 5.6 4.5 4.8 6.7 5.5 5.6 4.3 | (.15) (.04) (.49) (.39) (.73) (.69) (.27) (.99) (.35) (.26) Q4 | 6.5 6.5 4.0 5.1 4.6 5.2 6.7 7.5 5.4 4.2 | (.59) (.22) (.30) (.71) (.54) (.83) (.54) (.58) (.39) (.42) 2004: Q1 | 5.8 7.0 5.2 5.7 4.3 5.9 6.4 6.3 5.7 3.8 | (.21) (.15) (.44) (.25) (.48) (.64) (.37) (.23) (.37) (.41) _____________________________________________________________________________________________________________ Notes. NE is Northeast, LS is Lake States, CB is Cornbelt, NP is Northern Plains, AP is Appalachia, SE is Southeast, DL is Delta States, SP is Southern Plains, MN is Mountain States, and PA is Pacific. The numbers in parentheses are standard errors. They are calculated from 100 replications of a bootstrap procedure (resampling of banks) in each region. 19