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

Release Date: December 16, 2003
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E.2 SURVEY OF TERMS OF BUSINESS LENDING, NOVEMBER 3-7, 2003                        For immediate release
1. Commercial and industrial loans made by all commercial banks1                       December 16, 2003
Maturity/repricing interval2
and risk3 of loans		 Weighted-
average
effective
loan rate4
(percent)		 Total value of
loans
($ millions)		 Average
loan size
($ thousands)		 Weighted-
average
maturity5		 Percent of value 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 2.96   65,832   449   450   41.0   35.3   31.0   73.4   18.8  
 2.   Mininal risk 1.62   2,437   754   256   45.5   29.0   10.3   50.2   9.0  
 3.   Low risk 2.05   16,118   1,267   444   15.9   54.9   10.7   71.4   28.3  
 4.   Moderate risk 3.01   20,948   483   561   44.4   30.5   33.6   79.1   15.1  
 5.   Other 3.73   18,641   361   376   57.4   28.5   44.4   76.1   13.7  
 
 6. Zero interval 3.68   14,379   242   478   51.9   20.2   60.0   79.9   14.8  
 7.   Mininal risk 1.23   693   591   241   79.4   61.3   10.7   51.4   9.6  
 8.   Low risk 2.14   2,890   725   212   15.7   12.4   23.8   37.9   14.1  
 9.   Moderate risk 3.97   5,675   286   634   49.9   19.6   71.0   92.7   14.8  
10.   Other 4.49   4,551   181   505   68.8   22.1   75.8   94.6   16.4  
 
11. Daily 2.56   19,539   564   243   35.3   36.1   29.6   60.3   19.1  
12.   Mininal risk 1.35   529   1,955   175   1.7   1.8   10.1   37.5   2.1  
13.   Low risk 1.74   3,846   2,691   183   5.4   70.0   8.8   70.9   16.6  
14.   Moderate risk 2.36   6,636   795   266   43.9   32.5   27.1   58.2   13.7  
15.   Other 3.24   4,428   444   200   46.7   18.1   32.0   57.5   17.6  
 
16. 2 to 30 days 2.57   19,694   902   460   29.0   55.3   14.4   78.8   26.3  
17.   Mininal risk 1.47   804   2,851   201   27.7   28.0   .3   34.5   10.1  
18.   Low risk 2.08   7,230   3,473   624   6.4   74.5   5.5   91.2   37.3  
19.   Moderate risk 2.59   4,840   922   465   37.4   45.3   15.4   86.3   16.9  
20.   Other 3.40   5,294   532   277   50.9   53.8   26.1   63.5   16.5  
 
21. 31 to 365 days 3.01   7,701   504   437   50.5   21.3   19.2   82.4   11.9  
22.   Mininal risk 2.68   343   314   382   80.7   4.7   25.5   99.0   7.4  
23.   Low risk 2.49   1,076   307   507   44.5   30.8   20.3   79.7   19.4  
24.   Moderate risk 2.72   2,560   524   619   42.6   21.5   5.0   89.2   15.5  
25.   Other 3.56   2,916   1,099   330   61.0   15.3   32.8   91.7   5.9  
  Months  
26. More than 365 days 4.52   3,526   277   45   59.2   22.0   43.6   83.3   9.0  
27.   Mininal risk 4.17   69   170   32   73.7   46.9   48.0   74.5   35.7  
28.   Low risk 4.53   322   192   48   65.9   24.4   24.7   74.3   10.1  
29.   Moderate risk 4.51   1,130   249   67   51.7   33.6   24.5   78.5   12.8  
30.   Other 4.46   1,327   715   33   69.4   15.4   73.6   89.6   5.9  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 5.00   2,711   3.4   175   84.0   7.2   76.0   83.6   14.2  
32.   100 - 999 4.24   9,122   3.4   116   73.0   13.9   71.2   89.2   16.4  
33.   1,000 - 9,999 3.17   21,383   3.3   117   41.6   32.7   32.9   82.7   16.1  
34.   10,000+ 2.28   32,616   2.8   51   28.0   45.4   14.9   61.9   22.8  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.36   20,421   3.5   86   69.1   10.6   191   90.4   13.6  
36.   Other 2.32   45,411   2.9   87   28.3   46.5   1,140   65.7   22.1   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, NOVEMBER 3-7, 2003                        For immediate release
2. Commercial and industrial loans made by domestic banks1                             December 16, 2003
Maturity/repricing interval2
and risk3 of loans		 Weighted-
average
effective
loan rate4
(percent)		 Total value of
loans
($ millions)		 Average
loan size
($ thousands)		 Weighted-
average
maturity5		 Percent of value 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 3.18   48,467   340   585   46.6   23.9   40.9   81.3   20.0  
 2.   Mininal risk 1.59   1,824   605   289   43.7   25.8   13.1   44.1   11.1  
 3.   Low risk 2.12   12,824   1,052   530   17.6   48.2   12.7   75.3   32.5  
 4.   Moderate risk 3.34   15,926   377   720   45.7   17.2   43.3   83.8   14.5  
 5.   Other 4.15   12,400   250   532   74.0   12.9   64.0   91.4   13.0  
 
 6. Zero interval 3.84   12,156   208   540   60.2   9.0   68.2   76.7   11.5  
 7.   Mininal risk 1.20   687   589   242   79.2   61.8   10.0   51.0   8.8  
 8.   Low risk 2.14   2,515   652   221   17.8   2.5   25.0   28.6   7.2  
 9.   Moderate risk 4.32   4,649   239   746   60.2   5.2   84.4   92.3   12.0  
10.   Other 4.70   3,735   152   590   81.2   9.6   87.7   93.5   13.0  
 
11. Daily 2.96   11,520   344   425   39.8   18.7   49.3   76.0   24.0  
12.   Mininal risk 1.21   383   1,683   249   2.4   .9   12.3   13.7   7.2  
13.   Low risk 1.88   1,915   1,515   370   9.3   51.4   16.0   97.7   24.1  
14.   Moderate risk 2.76   4,345   533   406   34.9   17.3   40.8   67.0   17.0  
15.   Other 4.26   1,828   194   550   70.8   .3   74.1   85.2   21.7  
 
16. 2 to 30 days 2.62   14,585   708   582   30.5   47.4   18.8   90.0   28.9  
17.   Mininal risk 1.37   485   2,901   295   4.3   .7   .5   31.8   16.1  
18.   Low risk 2.11   6,375   3,346   668   4.3   75.5   6.2   95.1   40.3  
19.   Moderate risk 2.74   3,652   747   587   40.3   33.2   19.9   91.4   15.8  
20.   Other 3.76   2,877   303   424   75.6   28.6   45.5   91.2   17.8  
 
21. 31 to 365 days 3.16   5,953   409   479   54.2   11.1   24.1   89.2   11.6  
22.   Mininal risk 3.23   200   192   248   86.1   3.4   43.8   98.3   6.0  
23.   Low risk 2.50   949   275   436   41.3   25.8   23.0   80.1   21.1  
24.   Moderate risk 2.82   2,049   441   732   41.6   8.1   6.1   88.7   14.5  
25.   Other 3.56   2,515   1,074   315   65.6   8.4   36.9   94.2   5.4  
  Months  
26. More than 365 days 4.51   3,261   258   47   63.7   23.5   46.9   82.1   9.6  
27.   Mininal risk 4.17   69   170   32   73.7   46.9   48.0   74.5   35.7  
28.   Low risk 4.54   317   190   48   66.8   24.8   25.1   75.4   10.1  
29.   Moderate risk 4.52   1,125   248   67   51.4   33.3   24.6   78.4   12.7  
30.   Other 4.46   1,321   715   33   69.2   15.0   74.0   89.5   5.9  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 5.00   2,693   3.4   176   84.3   7.1   76.0   83.5   14.2  
32.   100 - 999 4.29   8,518   3.4   120   76.3   11.1   74.1   89.7   16.5  
33.   1,000 - 9,999 3.45   14,959   3.3   157   54.2   18.1   44.3   90.1   16.7  
34.   10,000+ 2.36   22,297   2.6   65   25.5   34.7   21.7   72.0   25.3  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.34   19,826   3.5   88   70.1   10.3   187   90.3   13.4  
36.   Other 2.38   28,640   2.7   125   30.3   33.3   783   75.1   25.5   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, NOVEMBER 3-7, 2003                        For immediate release
3. Commercial and industrial loans made by large domestic banks1                       December 16, 2003
Maturity/repricing interval2
and risk3 of loans		 Weighted-
average
effective
loan rate4
(percent)		 Total value of
loans
($ millions)		 Average
loan size
($ thousands)		 Weighted-
average
maturity5		 Percent of value 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 2.91   41,310   549   545   39.8   26.8   35.3   81.5   22.8  
 2.   Mininal risk 1.35   1,635   2,313   273   37.3   25.2   12.5   39.4   12.4  
 3.   Low risk 1.95   11,791   4,009   513   13.6   51.9   9.0   74.6   35.5  
 4.   Moderate risk 3.09   13,923   671   624   40.0   17.8   39.9   85.6   15.6  
 5.   Other 3.96   9,485   311   526   68.2   15.9   56.0   91.8   16.2  
 
 6. Zero interval 3.63   9,569   378   523   53.3   10.3   62.9   74.6   13.3  
 7.   Mininal risk 1.03   603   1,798   244   76.6   61.9   7.9   45.4   10.5  
 8.   Low risk 1.68   2,120   4,637   109   5.5   2.3   11.7   17.8   10.9  
 9.   Moderate risk 4.26   3,608   369   753   53.6   5.9   83.0   96.0   13.1  
10.   Other 4.69   3,139   246   611   79.8   11.1   86.4   93.5   14.2  
 
11. Daily 2.80   10,658   372   425   36.7   20.0   46.6   75.0   25.9  
12.   Mininal risk 1.14   376   3,009   247   .6   .9   10.7   12.1   8.1  
13.   Low risk 1.89   1,760   2,042   402   9.0   55.9   16.3   97.6   26.2  
14.   Moderate risk 2.63   4,133   653   411   32.4   18.2   37.9   66.7   17.8  
15.   Other 3.83   1,428   190   509   63.8   .3   68.0   83.3   27.1  
 
16. 2 to 30 days 2.56   13,828   960   594   28.4   49.8   16.8   90.4   30.3  
17.   Mininal risk 1.37   484   3,530   296   4.0   .7   .5   31.6   16.2  
18.   Low risk 2.11   6,190   5,336   685   3.9   77.7   5.9   95.3   41.5  
19.   Moderate risk 2.69   3,549   1,274   575   39.1   33.9   18.6   91.9   16.1  
20.   Other 3.64   2,521   371   429   72.7   32.5   39.3   90.4   20.4  
 
21. 31 to 365 days 2.64   4,719   2,040   510   44.5   13.2   12.3   91.7   13.6  
22.   Mininal risk 2.69   122   1,362   224   77.2   .0   67.3   99.9   3.4  
23.   Low risk 2.05   839   2,454   451   34.4   27.2   17.1   80.5   23.6  
24.   Moderate risk 2.50   1,877   2,599   734   37.6   8.2   3.6   91.5   15.2  
25.   Other 3.04   1,743   2,182   334   54.2   11.9   13.3   96.6   7.4  
  Months  
26. More than 365 days 3.83   1,570   755   35   32.3   28.2   35.5   94.2   16.3  
27.   Mininal risk 3.29   51   2,500   20   64.1   64.0   64.0   100.0   36.1  
28.   Low risk 2.93   129   1,309   35   37.1   32.2   13.6   98.7   18.3  
29.   Moderate risk 3.49   651   989   34   21.0   24.6   29.7   95.6   16.2  
30.   Other 4.56   553   754   38   36.0   23.1   56.0   94.2   12.8  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 4.37   1,420   3.6   47   79.1   11.6   80.8   91.8   20.7  
32.   100 - 999 3.99   6,152   3.5   47   71.2   13.2   74.0   94.8   20.1  
33.   1,000 - 9,999 3.27   12,192   3.2   92   49.2   19.9   39.1   91.3   19.5  
34.   10,000+ 2.30   21,546   2.6   54   22.9   35.6   19.2   71.4   26.3  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.14   14,597   3.4   46   62.5   12.7   248   91.7   16.7  
36.   Other 2.23   26,713   2.6   74   27.4   34.5   1,633   75.9   26.8   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, NOVEMBER 3-7, 2003                        For immediate release
4. Commercial and industrial loans made by small domestic banks1                       December 16, 2003
Maturity/repricing interval2
and risk3 of loans		 Weighted-
average
effective
loan rate4
(percent)		 Total value of
loans
($ millions)		 Average
loan size
($ thousands)		 Weighted-
average
maturity5		 Percent of value 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 4.77   7,157   107   803   85.7   7.2   73.1   80.6   3.7  
 2.   Mininal risk 3.62   189   82   418   99.0   30.7   18.3   85.1   6.1  
 3.   Low risk 4.06   1,034   112   713   63.1   6.7   55.0   82.9   1.6  
 4.   Moderate risk 5.07   2,002   93   1,389   85.5   13.1   66.9   70.7   5.6  
 5.   Other 4.78   2,915   152   551   92.7   3.1   90.2   89.9   2.4  
 
 6. Zero interval 4.63   2,586   78   607   85.8   4.0   87.6   84.5   5.7  
 7.   Mininal risk 2.41   84   101   229   97.9   61.1   25.1   91.5   2.8  
 8.   Low risk 4.65   394   116   883   84.4   3.6   96.5   86.7   3.0  
 9.   Moderate risk 4.53   1,041   107   722   83.1   2.6   89.3   79.4   7.2  
10.   Other 4.74   596   50   473   88.8   1.8   94.5   93.6   6.9  
 
11. Daily 4.86   862   177   430   77.8   2.0   82.0   88.6   5.1  
12.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
13.   Low risk 1.72   155   386   43   13.3   .0   13.6   99.4   .5  
14.   Moderate risk 5.26   212   116   325   83.6   .2   97.6   72.1   2.8  
15.   Other 5.78   399   211   659   95.8   .2   96.1   92.0   4.0  
 
16. 2 to 30 days 3.70   757   122   374   68.7   4.5   56.5   84.1   1.7  
17.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
18.   Low risk 2.02   185   248   125   16.2   .1   16.3   88.7   .3  
19.   Moderate risk 4.32   103   49   1,009   79.9   6.8   63.6   74.3   3.5  
20.   Other 4.63   356   132   390   96.7   1.1   89.5   97.0   .8  
 
21. 31 to 365 days 5.16   1,234   101   365   91.3   3.2   69.5   79.5   2.7  
22.   Mininal risk 4.08   78   82   286   99.9   8.6   7.3   95.8   10.2  
23.   Low risk 5.94   111   36   327   94.1   15.7   67.7   76.9   1.4  
24.   Moderate risk 6.29   172   44   714   85.0   7.3   32.9   57.8   2.1  
25.   Other 4.74   771   500   272   91.6   .3   90.1   88.8   .5  
  Months  
26. More than 365 days 5.14   1,692   160   58   92.8   19.0   57.4   70.7   1.2  
27.   Mininal risk 6.57   19   48   63   100.0   .0   4.1   4.7   .1  
28.   Low risk 5.66   188   119   57   87.3   19.6   33.0   59.4   .8  
29.   Moderate risk 5.92   474   122   113   93.3   45.3   17.5   54.7   3.7  
30.   Other 4.39   768   689   30   93.1   9.2   86.9   86.1   .4  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 5.71   1,273   3.2   314   90.0   2.2   70.8   74.2   5.1  
32.   100 - 999 5.10   2,366   3.2   308   89.7   5.6   74.2   76.4   4.9  
33.   1,000 - 9,999 4.24   2,767   3.5   440   76.3   9.9   67.2   85.0   3.3  
34.   10,000+ 4.12   752   3.9   364   100.0   11.0   95.2   88.4   .4  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.90   5,229   3.6   201   91.3   3.6   112   86.3   3.6  
36.   Other 4.42   1,927   2.7   819   70.4   17.0   95   65.1   4.3   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, NOVEMBER 3-7, 2003                            For immediate release
5. Commercial and industrial loans made by U.S. branches and agencies of foreign banks1    December 16, 2003
Maturity/repricing interval2
and risk3 of loans		 Weighted-
average
effective
loan rate4
(percent)		 Total value of
loans
($ millions)		 Average
loan size
($ thousands)		 Weighted-
average
maturity5		 Percent of value 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 2.32   17,365   4,178   97   25.3   67.3   3.4   51.1   13.5  
 2.   Mininal risk 1.74   613   2,853   166   51.0   38.6   1.9   68.1   4.8  
 3.   Low risk 1.77   3,294   6,176   125   9.4   80.9   2.7   56.5   6.6  
 4.   Moderate risk 1.97   5,022   4,321   82   40.0   72.8   2.9   64.4   17.4  
 5.   Other 2.90   6,241   3,322   89   24.4   59.4   5.3   45.7   16.8  
 
 6. Zero interval 2.78   2,223   2,175   147   6.3   81.5   15.4   97.5   28.6  
 7.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
 8.   Low risk 2.13   375   2,911   150   1.7   78.5   15.6   100.0   27.5  
 9.   Moderate risk 2.42   1,027   2,944   147   3.1   84.9   10.2   94.8   27.1  
10.   Other 3.53   816   1,511   146   11.8   79.1   21.3   99.9   30.8  
 
11. Daily 2.00   8,019   7,227   16   28.9   61.0   1.5   37.6   4.9  
12.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
13.   Low risk 1.60   1,931   11,664   15   1.6   88.5   1.6   44.3   .0  
14.   Moderate risk 1.60   2,291   11,513   42   60.8   61.5   1.0   41.6   3.5  
15.   Other 2.53   2,601   4,694   2   29.7   30.6   2.3   38.0   11.2  
 
16. 2 to 30 days 2.44   5,109   4,223   108   24.6   77.9   1.7   46.7   12.1  
17.   Mininal risk 1.63   318   2,778   60   63.5   69.4   .0   38.5   2.6  
18.   Low risk 1.87   855   4,840   239   21.9   67.0   .1   62.5   2.6  
19.   Moderate risk 2.13   1,188   3,287   63   28.7   82.7   1.4   70.5   21.0  
20.   Other 2.97   2,416   5,234   108   21.5   83.9   2.9   30.5   11.9  
 
21. 31 to 365 days 2.48   1,748   2,430   293   38.0   56.1   2.2   59.3   13.2  
22.   Mininal risk 1.92   143   2,729   569   73.2   6.6   .0   100.0   9.4  
23.   Low risk 2.45   127   2,216   1,033   68.2   68.0   .0   76.5   5.4  
24.   Moderate risk 2.33   511   2,139   158   46.8   75.4   .7   91.4   19.1  
25.   Other 3.53   402   1,281   428   31.7   58.3   7.0   75.9   9.5  
  Months  
26. More than 365 days 4.76   265   2,774   22   4.5   4.5   2.6   98.2   2.9  
27.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
28.   Low risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
29.   Moderate risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
30.   Other ...   ...   ...   ...   ...   ...   ...   ...   ...  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 4.26   18   3.4   88   38.4   21.9   61.7   94.8   12.1  
32.   100 - 999 3.41   604   3.6   56   25.6   53.8   29.8   82.1   14.1  
33.   1,000 - 9,999 2.52   6,425   3.3   25   12.1   66.8   6.3   65.5   14.0  
34.   10,000+ 2.12   10,319   3.4   21   33.4   68.4   .0   40.2   13.0  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.89   595   3.6   29   34.7   19.4   649   93.6   20.4  
36.   Other 2.23   16,770   3.3   24   24.9   69.0   5,176   49.5   13.1   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, NOVEMBER 3-7, 2003                                 For immediate release
6. Commercial and industrial loans by date pricing terms were set and commitment status         December 16, 2003
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
rating3		 Weighted-
average
maturity/
repricing
interval2
(days)		 Percent of value of loans
Secured
by
collateral		 Subject to
prepayment
penalty		 Prime based
All commercial banks
 1. During survey week 2.80   30,423   649   3.2   104   39.3   30.9   24.1  
 2.   Not under commitment 2.38   17,544   713   3.0   63   34.6   43.5   11.2  
 3.   Informal commitment 2.91   6,783   463   3.1   58   32.3   14.1   29.9  
 4.   Formal commitment 3.90   6,096   804   3.6   269   60.7   13.4   55.0  
    Before survey week9
 5.   Up to 90 days 3.49   5,496   252   3.0   117   50.9   29.7   48.5  
 6.   91 to 365 days 3.41   8,807   234   3.0   97   56.6   31.5   49.1  
 6.   More than 365 days 2.83   21,019   532   3.0   48   34.1   45.0   28.7  
 
Domestic banks
 8. During survey week 3.22   18,071   406   3.0   168   47.8   5.6   39.7  
 9.   Not under commitment 2.51   9,045   384   2.5   114   34.7   4.6   21.3  
10.   Informal commitment 3.94   3,230   239   3.3   111   61.4   .8   59.2  
11.   Formal commitment 3.92   5,795   776   3.6   278   60.6   9.9   57.6  
    Before survey week9
12.   Up to 90 days 3.48   4,873   226   3.0   103   51.6   26.0   54.6  
13.   91 to 365 days 3.56   7,756   209   3.1   106   61.1   27.2   54.0  
14.   More than 365 days 2.89   17,680   462   2.9   54   37.4   40.7   32.6  
 
Large domestic banks
15. During survey week 2.70   13,478   1,554   2.9   94   35.9   6.1   28.5  
16.   Not under commitment 2.01   7,657   1,272   2.4   30   26.6   3.8   15.8  
17.   Informal commitment 3.67   1,746   1,471   3.3   14   50.2   1.0   51.4  
18.   Formal commitment 3.57   4,074   2,787   3.5   237   47.1   12.5   42.6  
    Before survey week9
19.   Up to 90 days 3.15   4,013   333   3.0   49   42.7   30.7   49.4  
20.   91 to 365 days 3.32   6,514   310   3.0   46   55.2   28.9   50.7  
21.   More than 365 days 2.86   17,258   516   2.8   53   36.4   41.3   31.5  
 
Small domestic banks
22. During survey week 4.75   4,593   128   3.5   375   82.9   4.4   72.5  
23.   Not under commitment 5.26   1,388   79   3.1   536   79.5   9.3   51.5  
24.   Informal commitment 4.26   1,484   120   3.4   226   74.6   .7   68.3  
25.   Formal commitment 4.76   1,721   287   4.0   375   92.8   3.6   92.9  
    Before survey week9
26.   Up to 90 days 4.99   860   90   2.9   353   93.1   4.3   78.7  
27.   91 to 365 days 4.79   1,243   77   3.3   418   92.3   18.1   71.2  
28.   More than 365 days 4.41   422   87   3.4   83   80.4   12.9   75.4  
 
Foreign banks
29. During survey week 2.20   12,352   5,418   3.4   15   26.9   67.9   1.4  
30.   Not under commitment 2.25   8,499   8,188   3.6   14   34.4   84.9   .4  
31.   Informal commitment 1.98   3,553   3,152   2.9   10   5.8   26.1   3.3  
32.   Formal commitment 3.38   300   2,621   2.9   90   61.9   82.0   5.0  
    Before survey week9
33.   Up to 90 days 3.61   623   3,184   3.0   224   45.4   57.9   1.2  
34.   91 to 365 days 2.35   1,051   2,316   2.8   31   23.2   63.9   13.2  
35.   More than 365 days 2.52   3,339   2,720   3.5   20   16.2   67.7   8.3   
...  The number of loans was insufficient to provide a meaningful value.
Summary statistics All commercial
banks		 Domestic
banks		 Large domestic
banks		 Small domestic
banks		 Foreign
banks
Average reported prime rate 4.04   4.05   4.00   4.17   4.00  
Standard error of loan rate4 .20   .21   .20   .22   .18  

NOTES

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.

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.

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. 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. 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.

9. For loans made under formal commitments.

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Last update: December 16, 2003