Federal Reserve Statistical Release, E.2, Survey of Terms of Business Lending; title with eagle logo links to Statistical Release home page

Release Date: June 25, 2003
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Changes to the E.2 Statistical Release

Effective with this issue, the content of the E.2 statistical release has been changed to reflect the addition of a new item and the elimination of some previously reported items.

Loans reported on the E.2 that were made under formal commitments include those whose lending spreads and other pricing terms were set during the survey week and those whose terms were set prior to the survey week. Because economic conditions may change between the dates lending terms are negotiated and set and the time borrowers actually draw down formally committed funds, the pricing and other terms reported for loans made under formal commitments during the E.2 survey weeks may reflect a mixture of lending conditions.

Surveyed banks now report the date on which pricing and other terms of loans made under formal commitments became effective. Table 6 has been added to the E.2 to present pricing and other summary statistics separately for loans having terms set during survey the week and loans having pricing terms set prior to the survey week. The total dollar volume of loans reported on table 6 is below that found on table 1 because some respondent banks were not able to provide the new dating information in time for publication.

The following information no longer appears on the E.2: 


FEDERAL RESERVE STATISTICAL RELEASE








E.2                                                                                For immediate release
SURVEY OF TERMS OF BUSINESS LENDING, MAY 5-9, 2003                                         June 25, 2003
TABLE 1
Commercial and Industrial loans made by all commercial banks1
Risk2 and
maturity/repricing interval3
of loans		 Weighted-
Average
Effective
Loan Rate4
(percent)		 Amount of
Loans
($ millions)		 Average
Loan Size
($ thousands)		 Weighted-
Average
Maturity5		 Percent of Amount of Loans Commitment Status
Secured
by
Collateral		 Subject to
Prepayment
Penalty		 Prime Based Percent
Made Under
Commitment		 Average
Months
Since Loan
Terms Set6
  Days  
 1. All C&I loans 3.32   61,826   450   461   38.0   23.9   31.5   73.1   13.5  
 2.   Mininal risk 2.45   1,663   369   307   22.8   9.8   20.9   73.2   14.8  
 3.   Low risk 2.38   11,212   1,040   434   13.0   29.5   15.9   71.4   6.9  
 4.   Moderate risk 3.46   21,049   467   643   45.0   19.8   35.2   84.5   11.1  
 5.   Other 3.77   20,014   424   329   47.3   22.5   36.2   72.0   17.5  
 
 6. Zero interval 4.21   14,626   297   608   45.0   7.2   70.4   81.7   19.6  
 7.   Mininal risk 3.92   283   210   828   36.1   3.9   69.8   96.9   13.4  
 8.   Low risk 2.67   3,600   1,218   407   9.3   3.0   37.1   51.4   9.6  
 9.   Moderate risk 4.32   5,591   308   804   56.1   4.5   86.0   95.4   11.6  
10.   Other 5.25   4,814   224   541   59.4   14.0   77.8   90.4   33.3  
 
11. Daily 2.79   24,176   616   228   31.0   26.6   25.3   66.7   7.7  
12.   Mininal risk 1.81   540   2,251   16   1.9   --   3.1   85.1   11.1  
13.   Low risk 2.00   3,775   2,500   243   7.8   66.1   6.0   77.3   1.4  
14.   Moderate risk 2.74   7,028   687   359   35.6   11.6   21.3   74.0   6.8  
15.   Other 2.96   8,503   692   103   36.8   17.1   28.3   60.1   5.7  
 
16. 2 to 30 days 2.77   9,448   661   194   34.5   32.3   8.1   64.8   17.0  
17.   Mininal risk 1.87   401   1,235   196   18.2   17.6   3.3   43.2   32.4  
18.   Low risk 2.03   1,343   760   127   27.2   15.9   6.5   62.6   15.3  
19.   Moderate risk 2.68   2,664   775   216   37.2   30.5   8.1   78.8   18.0  
20.   Other 3.30   3,775   600   216   41.1   44.5   9.4   68.2   13.7  
 
21. 31 to 365 days 3.16   9,022   516   540   40.2   31.1   11.6   82.7   16.3  
22.   Mininal risk 2.41   380   245   564   37.5   21.4   28.3   72.9   10.1  
23.   Low risk 2.36   2,211   818   839   9.8   22.0   3.8   97.3   15.5  
24.   Moderate risk 3.48   3,145   434   479   59.4   33.8   11.3   90.5   16.3  
25.   Other 3.75   1,956   581   476   60.0   27.5   18.8   87.4   18.6  
  Months  
26. Over 365 days 4.80   4,245   279   56   53.2   32.6   27.0   77.0   7.2  
27.   Mininal risk 5.62   58   56   30   86.4   --   20.8   53.9   16.1  
28.   Low risk 5.52   227   126   57   83.5   1.5   19.8   84.2   8.1  
29.   Moderate risk 4.32   2,506   463   56   35.6   48.2   20.5   88.9   5.6  
30.   Other 5.45   868   301   58   75.3   18.0   36.7   68.3   10.5  
Loan Size   Weighted-
Average Risk
Rating2		 Weighted-
Average
Maturity/
Repricing
Interval3		  
  Days  
    Size ($ thousands)  
31.   1 - 99 5.28   2,478   3.4   244   85.9   1.8   73.9   83.3   16.3  
32.   100 - 999 4.54   8,699   3.4   187   74.0   7.2   67.2   88.4   19.5  
33.   1,000 - 9,999 3.50   19,231   3.4   127   37.8   26.8   30.5   74.8   19.3  
34.   10,000+ 2.73   31,417   3.1   107   24.4   28.4   18.9   67.0   7.5  
    Base rate7   Average Size
($ thousands)		  
35.   Prime8 4.79   19,480   3.5   106   60.4   3.8   204   87.7   18.1  
36.   Other 2.65   42,346   3.1   140   27.7   33.1   1,015   66.4   11.3   
E.2                                                                                For immediate release
SURVEY OF TERMS OF BUSINESS LENDING, MAY 5-9, 2003                                         June 25, 2003
TABLE 2
Commercial and Industrial loans made by domestic banks1
Risk2 and
maturity/repricing interval3
of loans		 Weighted-
Average
Effective
Loan Rate4
(percent)		 Amount of
Loans
($ millions)		 Average
Loan Size
($ thousands)		 Weighted-
Average
Maturity5		 Percent of Amount of Loans Commitment Status
Secured
by
Collateral		 Subject to
Prepayment
Penalty		 Prime Based Percent
Made Under
Commitment		 Average
Months
Since Loan
Terms Set6
  Days  
 1. All C&I loans 3.62   39,618   299   601   51.1   13.5   40.8   78.7   14.0  
 2.   Mininal risk 2.72   798   185   406   45.9   0.1   30.5   51.7   38.6  
 3.   Low risk 2.24   6,888   671   314   20.2   28.9   11.6   64.4   6.1  
 4.   Moderate risk 3.64   17,289   394   742   51.5   16.0   40.5   84.1   11.4  
 5.   Other 4.59   9,500   214   606   73.1   5.7   58.1   87.2   19.2  
 
 6. Zero interval 4.06   11,507   240   577   55.5   1.1   70.3   76.7   13.3  
 7.   Mininal risk 3.43   174   133   324   58.7   0.5   56.7   95.0   10.0  
 8.   Low risk 2.04   2,523   872   109   13.3   --   14.7   30.6   4.4  
 9.   Moderate risk 4.38   5,193   290   827   58.8   1.4   88.4   95.0   10.4  
10.   Other 5.09   3,278   158   597   83.8   1.6   86.4   86.0   22.9  
 
11. Daily 3.22   12,740   335   441   44.4   18.1   41.8   79.8   12.8  
12.   Mininal risk 1.67   131   819   66   7.9   --   12.9   38.6   155.7  
13.   Low risk 2.12   2,283   1,690   392   12.8   71.4   10.0   90.8   1.5  
14.   Moderate risk 2.98   5,323   532   460   44.8   12.1   27.5   67.9   10.0  
15.   Other 4.28   2,325   199   421   60.8   0.5   71.4   86.0   13.9  
 
16. 2 to 30 days 2.95   5,827   447   247   44.3   9.6   10.6   73.7   21.2  
17.   Mininal risk 1.88   255   851   275   24.5   --   5.2   34.4   69.6  
18.   Low risk 2.07   1,046   619   116   34.9   5.1   8.3   61.2   18.7  
19.   Moderate risk 2.71   1,889   620   271   43.6   15.7   4.8   82.6   20.3  
20.   Other 4.19   1,686   297   338   62.7   12.5   19.6   95.2   17.0  
 
21. 31 to 365 days 3.39   5,117   317   506   61.7   19.0   17.0   86.6   17.0  
22.   Mininal risk 3.06   179   119   1,025   78.2   --   57.2   42.5   21.1  
23.   Low risk 2.45   805   322   576   25.8   37.3   8.0   94.1   15.4  
24.   Moderate risk 3.48   2,299   334   528   72.2   22.9   13.8   92.0   14.4  
25.   Other 3.83   1,282   471   493   76.1   11.2   24.2   93.6   23.9  
  Months  
26. Over 365 days 4.83   4,172   275   55   54.1   32.3   27.5   78.3   7.2  
27.   Mininal risk 5.62   58   56   30   86.4   --   20.8   53.9   16.1  
28.   Low risk 5.52   227   126   57   83.5   1.5   19.8   84.2   8.1  
29.   Moderate risk 4.33   2,470   456   56   36.1   48.9   20.8   90.2   5.6  
30.   Other 5.54   832   289   58   78.6   14.4   38.3   71.3   10.5  
Loan Size   Weighted-
Average Risk
Rating2		 Weighted-
Average
Maturity/
Repricing
Interval3		  
  Days  
    Size ($ thousands)  
31.   1 - 99 5.30   2,454   3.4   246   86.5   1.6   74.2   83.3   16.3  
32.   100 - 999 4.62   8,012   3.4   201   78.0   3.0   70.3   88.6   18.9  
33.   1,000 - 9,999 3.61   12,148   3.3   188   54.0   12.1   37.5   80.7   19.0  
34.   10,000+ 2.92   17,004   2.8   186   31.3   21.1   24.5   72.0   7.8  
    Base rate7   Average Size
($ thousands)		  
35.   Prime8 4.68   16,179   3.4   127   69.5   1.4   172   89.9   14.9  
36.   Other 2.89   23,439   2.9   238   38.4   21.8   615   71.0   13.4   
E.2                                                                                For immediate release
SURVEY OF TERMS OF BUSINESS LENDING, MAY 5-9, 2003                                         June 25, 2003
TABLE 3
Commercial and Industrial loans made by large domestic banks1
Risk2 and
maturity/repricing interval3
of loans		 Weighted-
Average
Effective
Loan Rate4
(percent)		 Amount of
Loans
($ millions)		 Average
Loan Size
($ thousands)		 Weighted-
Average
Maturity5		 Percent of Amount of Loans Commitment Status
Secured
by
Collateral		 Subject to
Prepayment
Penalty		 Prime Based Percent
Made Under
Commitment		 Average
Months
Since Loan
Terms Set6
  Days  
 1. All C&I loans 3.37   34,007   497   576   46.3   15.1   37.8   80.9   15.3  
 2.   Mininal risk 1.94   578   1,077   373   35.2   0.2   29.0   41.4   62.1  
 3.   Low risk 1.94   6,287   2,681   259   13.4   31.4   6.6   64.0   6.2  
 4.   Moderate risk 3.39   15,341   770   725   46.9   17.5   37.3   84.3   11.9  
 5.   Other 4.48   7,893   282   571   68.5   5.7   55.0   90.7   22.7  
 
 6. Zero interval 3.89   9,112   435   595   48.2   0.9   66.8   78.4   14.8  
 7.   Mininal risk 2.92   82   329   224   70.0   1.1   73.2   95.5   17.3  
 8.   Low risk 1.73   2,261   6,546   73   4.6   --   5.7   27.2   3.4  
 9.   Moderate risk 4.27   4,367   546   882   53.3   1.4   87.0   96.3   10.8  
10.   Other 5.27   2,376   217   597   79.4   1.1   87.6   93.3   27.6  
 
11. Daily 3.16   11,994   366   444   42.9   19.1   40.8   80.8   13.0  
12.   Mininal risk 1.65   129   1,114   66   6.9   --   12.3   38.0   155.7  
13.   Low risk 2.05   2,215   2,935   395   10.2   73.6   7.3   92.4   1.4  
14.   Moderate risk 2.87   5,050   633   458   42.3   12.7   25.9   66.4   10.1  
15.   Other 4.24   2,221   218   412   59.4   0.5   70.2   86.2   14.7  
 
16. 2 to 30 days 2.81   5,205   681   241   41.9   10.5   5.8   75.4   23.6  
17.   Mininal risk 1.54   228   3,506   246   15.7   --   0.7   26.8   87.8  
18.   Low risk 2.00   1,014   1,314   85   33.5   5.3   7.6   60.0   20.0  
19.   Moderate risk 2.56   1,796   1,247   248   41.2   16.1   2.9   82.7   20.6  
20.   Other 4.04   1,458   362   352   57.2   14.0   8.0   95.0   21.5  
 
21. 31 to 365 days 2.96   4,485   1,545   538   59.5   21.3   15.9   90.1   18.4  
22.   Mininal risk 2.24   127   2,090   2,186   75.3   --   71.1   32.5   38.4  
23.   Low risk 2.01   724   2,126   573   18.1   40.2   2.9   94.5   16.9  
24.   Moderate risk 3.02   2,022   1,901   562   70.8   25.7   12.6   93.6   15.3  
25.   Other 3.68   1,220   1,090   500   75.8   11.7   24.4   95.1   25.4  
  Months  
26. Over 365 days 4.21   3,018   1,128   52   39.3   41.6   24.3   83.9   8.7  
27.   Mininal risk 2.93   10   374   37   41.1   --   2.6   78.6   33.7  
28.   Low risk 3.90   71   561   38   51.9   3.2   29.2   94.6   16.5  
29.   Moderate risk 3.91   2,022   1,716   53   24.7   57.7   14.2   94.8   6.0  
30.   Other 5.07   550   572   56   68.3   12.8   40.0   74.8   17.0  
Loan Size   Weighted-
Average Risk
Rating2		 Weighted-
Average
Maturity/
Repricing
Interval3		  
  Days  
    Size ($ thousands)  
31.   1 - 99 4.63   1,287   3.6   95   83.3   1.3   81.4   90.5   25.2  
32.   100 - 999 4.23   5,680   3.5   99   73.5   2.5   72.2   94.2   23.8  
33.   1,000 - 9,999 3.49   10,312   3.3   172   51.2   13.4   35.1   86.1   20.8  
34.   10,000+ 2.91   16,727   2.8   187   31.2   21.5   24.5   72.5   7.9  
    Base rate7   Average Size
($ thousands)		  
35.   Prime8 4.56   12,861   3.4   98   64.7   0.7   240   93.3   17.2  
36.   Other 2.65   21,146   2.9   205   35.1   23.9   1,424   73.4   14.0   
E.2                                                                                For immediate release
SURVEY OF TERMS OF BUSINESS LENDING, MAY 5-9, 2003                                         June 25, 2003
TABLE 4
Commercial and Industrial loans made by small domestic banks1
Risk2 and
maturity/repricing interval3
of loans		 Weighted-
Average
Effective
Loan Rate4
(percent)		 Amount of
Loans
($ millions)		 Average
Loan Size
($ thousands)		 Weighted-
Average
Maturity5		 Percent of Amount of Loans Commitment Status
Secured
by
Collateral		 Subject to
Prepayment
Penalty		 Prime Based Percent
Made Under
Commitment		 Average
Months
Since Loan
Terms Set6
  Days  
 1. All C&I loans 5.12   5,610   88   757   80.5   3.6   59.1   65.3   5.0  
 2.   Mininal risk 4.77   220   58   487   74.1   --   34.3   78.7   3.4  
 3.   Low risk 5.30   600   76   918   92.0   1.9   64.1   69.0   5.6  
 4.   Moderate risk 5.58   1,948   81   874   87.6   4.4   65.5   82.5   6.6  
 5.   Other 5.14   1,606   97   796   95.7   5.5   73.3   70.4   3.1  
 
 6. Zero interval 4.68   2,395   89   496   83.0   1.6   83.6   70.5   6.3  
 7.   Mininal risk 3.89   92   87   397   48.6   --   42.0   94.6   3.0  
 8.   Low risk 4.69   262   103   461   87.8   --   91.8   60.2   9.7  
 9.   Moderate risk 4.95   826   83   512   88.0   1.4   96.0   88.3   7.8  
10.   Other 4.61   902   92   600   95.6   3.0   83.1   66.7   4.9  
 
11. Daily 4.18   746   143   401   68.6   2.6   57.3   62.9   7.5  
12.   Mininal risk --   --   --   --   --   --   --   --   --  
13.   Low risk 4.56   68   114   283   97.5   0.2   97.7   38.8   5.2  
14.   Moderate risk 5.06   273   135   482   90.9   0.8   56.8   95.6   5.1  
15.   Other 5.16   104   70   583   90.7   0.6   97.3   80.6   3.5  
 
16. 2 to 30 days 4.12   622   115   296   64.3   2.3   50.9   59.5   2.4  
17.   Mininal risk 4.78   27   113   546   100.0   --   44.2   99.4   0.6  
18.   Low risk 4.44   32   35   1,174   80.9   --   31.1   98.3   9.3  
19.   Moderate risk 5.65   93   58   734   88.7   8.0   40.6   81.6   10.3  
20.   Other 5.10   228   139   261   97.5   3.0   94.0   96.1   0.3  
 
21. 31 to 365 days 6.43   632   48   284   77.3   2.8   24.6   61.8   5.9  
22.   Mininal risk 5.06   52   36   199   85.2   --   23.3   67.0   5.9  
23.   Low risk 6.37   82   38   601   94.2   12.0   52.9   90.5   1.9  
24.   Moderate risk 6.81   277   48   287   82.6   2.1   22.7   80.5   7.9  
25.   Other 6.65   62   39   356   83.1   1.1   21.7   64.1   4.0  
  Months  
26. Over 365 days 6.44   1,154   92   64   92.7   8.0   35.8   63.6   2.4  
27.   Mininal risk 6.19   48   47   29   95.9   --   24.7   48.6   2.4  
28.   Low risk 6.26   156   93   66   97.9   0.8   15.6   79.4   2.6  
29.   Moderate risk 6.26   448   106   69   87.3   9.1   50.7   69.6   3.4  
30.   Other 6.47   282   147   61   98.6   17.5   35.1   64.4   1.9  
Loan Size   Weighted-
Average Risk
Rating2		 Weighted-
Average
Maturity/
Repricing
Interval3		  
  Days  
    Size ($ thousands)  
31.   1 - 99 6.03   1,167   3.1   409   90.0   1.9   66.4   75.3   6.6  
32.   100 - 999 5.56   2,331   3.2   447   88.8   4.3   65.6   74.9   6.1  
33.   1,000 - 9,999 4.25   1,836   3.3   275   69.8   4.4   50.9   50.5   2.1  
34.   10,000+ --   --   --   --   --   --   --   --   --  
    Base rate7   Average Size
($ thousands)		  
35.   Prime8 5.15   3,318   3.3   241   88.2   4.1   81   76.9   5.6  
36.   Other 5.09   2,293   3.0   551   69.2   3.0   99   48.6   3.7   
E.2                                                                                For immediate release
SURVEY OF TERMS OF BUSINESS LENDING, MAY 5-9, 2003                                         June 25, 2003
TABLE 5
Commercial and Industrial loans made by U.S. branches and agencies of foreign banks1
Risk2 and
maturity/repricing interval3
of loans		 Weighted-
Average
Effective
Loan Rate4
(percent)		 Amount of
Loans
($ millions)		 Average
Loan Size
($ thousands)		 Weighted-
Average
Maturity5		 Percent of Amount of Loans Commitment Status
Secured
by
Collateral		 Subject to
Prepayment
Penalty		 Prime Based Percent
Made Under
Commitment		 Average
Months
Since Loan
Terms Set6
  Days  
 1. All C&I loans 2.80   22,208   4,386   220   14.6   42.4   14.9   63.0   12.6  
 2.   Mininal risk 2.21   865   4,532   235   1.5   18.7   12.0   93.0   3.4  
 3.   Low risk 2.60   4,325   8,332   620   1.5   30.6   22.8   82.5   8.7  
 4.   Moderate risk 2.63   3,759   3,119   183   15.4   37.4   11.0   86.5   10.0  
 5.   Other 3.02   10,514   3,857   94   24.0   37.7   16.5   58.3   16.1  
 
 6. Zero interval 4.80   3,119   2,711   747   6.2   29.6   70.5   99.9   43.7  
 7.   Mininal risk --   --   --   --   --   --   --   --   --  
 8.   Low risk 4.14   1,076   17,857   1,093   --   10.2   89.8   100.0   40.0  
 9.   Moderate risk 3.57   398   1,841   451   20.4   45.8   55.1   100.0   31.5  
10.   Other 5.58   1,536   1,854   360   7.3   40.5   59.4   99.9   47.7  
 
11. Daily 2.32   11,436   8,963   15   16.1   36.1   6.8   52.1   2.0  
12.   Mininal risk 1.85   409   5,095   1   --   --   --   100.0   0.0  
13.   Low risk 1.81   1,491   9,376   24   0.1   58.1   --   56.7   1.2  
14.   Moderate risk 2.00   1,705   7,543   71   7.0   10.0   1.8   93.0   0.8  
15.   Other 2.46   6,178   9,893   1   27.7   23.3   12.0   50.4   3.0  
 
16. 2 to 30 days 2.49   3,621   2,872   113   18.7   68.9   4.1   50.4   10.2  
17.   Mininal risk --   --   --   --   --   --   --   --   --  
18.   Low risk 1.87   297   3,774   162   0.1   53.6   --   67.6   11.6  
19.   Moderate risk 2.59   775   1,978   58   21.7   66.6   16.3   69.5   12.1  
20.   Other 2.59   2,089   3,346   126   23.7   70.4   1.1   46.5   9.8  
 
21. 31 to 365 days 2.85   3,906   2,890   584   12.1   46.9   4.5   77.7   15.2  
22.   Mininal risk --   --   --   --   --   --   --   --   --  
23.   Low risk 2.31   1,405   6,824   991   0.6   13.3   1.4   99.1   15.7  
24.   Moderate risk 3.48   846   2,306   342   24.6   63.5   4.6   86.4   20.3  
25.   Other 3.60   674   1,048   444   29.4   58.4   8.6   75.8   11.7  
  Months  
26. Over 365 days --   --   --   --   --   --   --   --   --  
27.   Mininal risk --   --   --   --   --   --   --   --   --  
28.   Low risk --   --   --   --   --   --   --   --   --  
29.   Moderate risk --   --   --   --   --   --   --   --   --  
30.   Other --   --   --   --   --   --   --   --   --  
Loan Size   Weighted-
Average Risk
Rating2		 Weighted-
Average
Maturity/
Repricing
Interval3		  
  Days  
    Size ($ thousands)  
31.   1 - 99 3.77   24   4.0   32   29.2   21.5   41.9   88.2   11.4  
32.   100 - 999 3.65   688   3.5   27   27.1   55.6   31.3   86.4   24.8  
33.   1,000 - 9,999 3.30   7,083   3.7   22   10.1   52.0   18.7   64.7   19.7  
34.   10,000+ 2.51   14,412   3.4   14   16.1   37.1   12.2   61.0   7.2  
    Base rate7   Average Size
($ thousands)		  
35.   Prime8 5.30   3,301   3.6   4   15.9   15.9   2,306   76.5   41.9  
36.   Other 2.36   18,907   3.5   19   14.4   47.0   5,206   60.6   8.6   
E.2                                                                                For immediate release
SURVEY OF TERMS OF BUSINESS LENDING, MAY 5-9, 2003                                         June 25, 2003
TABLE 6
Commercial and Industrial loans by date pricing terms were set and commitment status
Date pricing terms were set
and commitment status		 Weighted-
Average
Effective
Loan Rate4
(percent)		 Amount of
Loans
($ millions)		 Average
Loan Size
($ thousands)		 Weighted-
Average Risk
Rating2		 Weighted-
Average
Maturity/
Repricing
Interval3		 Percent of Amount of Loans
Secured
by
Collateral		 Subject to
Prepayment
Penalty		 Prime Based
  Days  
All commercial banks
 1. During survey week 2.88   33,227   742   3.2   107   29.2   33.3   18.3  
 2.   Not under commitment 2.79   16,645   714   3.4   115   31.3   35.0   14.4  
 3.   Informal commitment 2.67   13,853   1,213   3.0   78   17.8   37.4   13.9  
 4.   Formal commitment 4.52   2,729   272   3.1   211   73.7   2.2   64.9  
    Prior to survey week9
 5.   Up to 90 days 4.49   2,618   215   3.4   750   60.8   35.2   45.1  
 6.   91 to 365 days 3.86   4,343   192   3.2   107   63.4   11.9   54.4  
 7.   More than 365 days 3.75   10,352   415   3.5   93   41.4   18.2   38.9  
 
Domestic banks
 8. During survey week 3.30   18,529   438   2.8   184   40.4   23.2   28.0  
 9.   Not under commitment 2.99   8,427   380   2.7   213   36.8   1.6   19.3  
10.   Informal commitment 3.22   7,457   735   2.8   140   33.0   55.4   24.7  
11.   Formal commitment 4.48   2,645   265   3.1   217   72.9   1.2   64.8  
    Prior to survey week9
12.   Up to 90 days 4.52   2,378   197   3.3   822   60.1   31.3   47.7  
13.   91 to 365 days 3.95   3,337   150   3.3   130   76.2   3.8   63.0  
14.   More than 365 days 3.67   6,704   288   3.3   136   55.9   2.2   46.5  
 
Large domestic banks
15. During survey week 2.90   15,211   1,324   2.7   128   32.8   27.3   23.7  
16.   Not under commitment 2.49   6,482   1,059   2.6   168   28.3   0.7   13.3  
17.   Informal commitment 3.00   6,883   1,488   2.7   111   28.0   59.5   21.0  
18.   Formal commitment 3.97   1,846   2,484   3.1   50   66.8   0.5   70.4  
    Prior to survey week9
19.   Up to 90 days 4.26   1,805   410   3.4   979   51.6   39.3   37.4  
20.   91 to 365 days 3.68   2,732   239   3.3   93   73.5   4.5   56.8  
21.   More than 365 days 3.63   6,463   331   3.3   126   55.1   2.1   45.2  
 
Small domestic banks
22. During survey week 5.10   3,318   108   3.3   445   75.3   4.5   47.6  
23.   Not under commitment 4.66   1,945   121   3.3   366   65.1   4.5   39.4  
24.   Informal commitment 5.85   574   104   3.8   483   93.7   6.8   69.4  
25.   Formal commitment 5.65   798   86   3.1   606   87.0   2.9   51.7  
    Prior to survey week9
26.   Up to 90 days 5.37   573   75   3.2   328   87.1   6.2   79.9  
27.   91 to 365 days 5.13   605   56   3.1   295   88.5   0.6   90.8  
28.   More than 365 days 4.62   241   64   3.1   412   77.9   3.2   80.9  
 
Foreign banks
29. During survey week 2.36   14,698   5,948   3.7   11   15.0   46.0   6.2  
30.   Not under commitment 2.58   8,218   7,052   4.2   14   25.8   69.3   9.4  
31.   Informal commitment 2.02   6,396   5,033   3.2   7   0.0   16.3   1.2  
32.   Formal commitment --   --   --   --   --   --   --   --  
    Prior to survey week9
33.   Up to 90 days 4.20   240   2,279   3.6   46   67.6   74.0   19.3  
34.   91 to 365 days 3.58   1,006   2,634   3.0   28   21.0   38.7   26.0  
35.   More than 365 days 3.89   3,647   2,181   3.9   15   14.9   47.6   24.8  

NOTES

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.

1. As of Mach 31, 2001, assets of the large banks were at least $4 billion. Median total assets for all insured banks were roughly $80 million. Assets at all U.S. branches and agencies averaged $2.7 billion.

2. 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 to 39 are not rated for risk.

3. 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.

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 C&I loans in the current survey (line 1, column 1) is 0.17 percentage points. 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.

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

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.

7. 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.

8. For the current survey, the average reported prime rate, weighted by the amount of loans priced relative to a prime base rate, was 4.27 percent for all banks, 4.25 percent for large domestic banks, 4.37 percent for small domestic banks, and 4.25 percent for U.S. branches and agencies of foreign banks.

9. For loans made under formal commitments.

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