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

Release Date: March 18, 2004
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FEDERAL RESERVE STATISTICAL RELEASE




E.2 SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 2-6, 2004                        For immediate release
1. Commercial and industrial loans made by all commercial banks1                          March 18, 2004
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 2.99   63,599   411   401   47.6   30.3   31.2   76.4   18.2  
 2.   Mininal risk 2.03   1,877   539   286   63.3   36.2   15.7   90.5   15.7  
 3.   Low risk 1.99   13,808   1,054   252   41.7   44.7   10.2   66.9   20.2  
 4.   Moderate risk 3.06   19,862   420   555   52.4   33.5   34.7   82.6   15.9  
 5.   Other 3.72   19,941   393   369   49.6   13.6   42.6   84.3   17.8  
 
 6. Zero interval 3.79   14,534   206   533   64.4   8.1   57.4   76.9   14.7  
 7.   Mininal risk 1.78   435   431   238   89.9   53.0   34.8   95.8   12.8  
 8.   Low risk 2.09   3,937   778   158   43.5   1.0   17.9   34.9   15.0  
 9.   Moderate risk 4.10   3,928   173   743   65.0   6.6   74.2   92.8   13.8  
10.   Other 4.86   5,293   187   648   73.3   1.9   73.5   92.5   16.7  
 
11. Daily 2.29   21,400   756   202   32.5   39.6   18.8   66.4   20.8  
12.   Mininal risk 1.66   411   1,491   79   25.7   .2   24.4   96.8   .2  
13.   Low risk 1.56   6,341   3,202   190   38.7   71.6   3.9   75.2   23.6  
14.   Moderate risk 2.51   5,409   720   366   46.6   30.4   25.7   71.7   13.9  
15.   Other 2.66   5,415   918   39   13.4   16.4   11.9   62.4   19.5  
 
16. 2 to 30 days 2.72   14,659   702   348   47.9   43.6   22.8   79.9   17.9  
17.   Mininal risk 1.59   658   2,133   302   62.1   58.7   1.4   90.9   29.8  
18.   Low risk 2.38   2,258   1,290   438   34.0   51.1   8.8   85.5   16.8  
19.   Moderate risk 2.54   5,744   1,155   369   54.6   51.4   20.5   79.4   16.4  
20.   Other 3.62   4,118   400   319   53.8   30.1   40.0   90.1   14.5  
 
21. 31 to 365 days 3.35   7,968   440   333   56.1   27.1   31.8   88.1   22.8  
22.   Mininal risk 1.81   199   182   172   58.4   30.9   10.6   68.6   24.4  
23.   Low risk 2.69   958   410   285   64.6   42.7   12.5   93.5   18.2  
24.   Moderate risk 3.34   2,894   420   320   51.2   30.1   35.2   89.9   24.2  
25.   Other 3.88   2,912   945   355   70.3   15.8   45.2   95.8   25.2  
  Months  
26. More than 365 days 3.88   4,840   318   39   47.3   23.0   31.0   88.2   12.4  
27.   Mininal risk 5.50   171   223   29   95.2   .3   7.0   85.4   .6  
28.   Low risk 4.54   308   158   31   65.2   7.2   45.4   84.4   17.0  
29.   Moderate risk 3.61   1,819   391   55   36.0   51.1   19.0   91.0   10.6  
30.   Other 3.61   2,095   916   23   45.5   1.2   44.3   92.5   13.9  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 5.08   2,802   3.4   184   85.5   6.7   74.0   83.9   12.9  
32.   100 - 999 4.20   9,321   3.4   106   70.5   9.9   69.7   90.4   15.3  
33.   1,000 - 9,999 3.23   20,077   3.3   87   48.0   26.5   35.7   82.9   18.3  
34.   10,000+ 2.28   31,401   3.0   104   37.1   41.0   13.1   67.4   19.9  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.39   19,850   3.5   81   72.2   4.6   180   91.6   18.6  
36.   Other 2.35   43,749   3.0   112   36.4   42.0   992   69.5   18.0   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 2-6, 2004                        For immediate release
2. Commercial and industrial loans made by domestic banks1                                March 18, 2004
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 3.39   42,415   282   569   65.7   19.2   45.0   83.6   21.0  
 2.   Mininal risk 2.23   1,251   378   365   83.6   44.8   23.6   90.4   20.4  
 3.   Low risk 2.07   8,891   715   376   63.1   35.3   15.1   68.7   28.0  
 4.   Moderate risk 3.40   14,677   320   734   60.0   20.1   44.8   86.3   17.3  
 5.   Other 4.39   12,375   252   525   76.2   4.6   65.8   91.7   19.7  
 
 6. Zero interval 3.73   13,723   197   530   66.5   8.3   57.5   75.6   14.8  
 7.   Mininal risk 1.73   426   430   238   91.9   54.2   35.6   95.7   13.0  
 8.   Low risk 1.99   3,753   753   150   45.4   1.0   18.6   31.7   16.7  
 9.   Moderate risk 4.06   3,737   166   739   65.1   6.7   73.3   92.4   13.3  
10.   Other 4.85   4,865   175   641   77.6   1.7   74.3   91.9   17.2  
 
11. Daily 2.76   10,096   374   450   64.7   32.3   39.5   80.0   29.0  
12.   Mininal risk 1.89   114   519   615   70.8   .6   88.1   88.4   .6  
13.   Low risk 1.67   2,812   1,604   430   86.7   83.1   8.7   98.9   40.5  
14.   Moderate risk 2.91   3,622   505   564   59.3   24.1   37.4   69.3   16.4  
15.   Other 4.03   1,184   221   204   60.7   1.2   54.0   76.3   18.9  
 
16. 2 to 30 days 3.07   8,674   448   517   67.1   20.3   37.0   94.5   19.0  
17.   Mininal risk 1.49   427   1,761   302   74.8   76.8   2.2   99.8   38.8  
18.   Low risk 2.15   1,323   893   608   55.8   36.5   13.6   94.3   17.5  
19.   Moderate risk 2.92   3,298   752   610   66.8   21.7   33.9   94.4   17.6  
20.   Other 4.07   2,702   274   403   76.8   6.6   59.2   95.5   13.2  
 
21. 31 to 365 days 3.63   5,763   331   367   68.9   14.8   42.0   91.1   27.7  
22.   Mininal risk 2.22   112   105   217   80.9   .1   18.2   44.0   20.4  
23.   Low risk 2.89   698   310   318   77.2   37.3   11.6   91.1   19.7  
24.   Moderate risk 3.60   2,134   321   373   61.8   8.4   45.7   87.6   31.0  
25.   Other 4.06   2,290   811   359   80.5   12.0   56.6   97.0   30.3  
  Months  
26. More than 365 days 4.18   3,961   261   44   57.6   28.1   37.6   85.6   15.5  
27.   Mininal risk 5.50   171   223   29   95.2   .3   7.0   85.4   .6  
28.   Low risk 4.59   299   154   31   64.1   7.5   45.4   83.9   16.8  
29.   Moderate risk 3.61   1,819   391   55   36.0   51.1   19.0   91.0   10.6  
30.   Other 4.39   1,225   543   31   77.8   2.0   75.4   87.2   25.1  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 5.08   2,785   3.4   185   85.6   6.6   74.1   83.8   12.9  
32.   100 - 999 4.27   8,611   3.4   112   74.3   7.0   73.0   90.9   15.4  
33.   1,000 - 9,999 3.55   14,321   3.3   114   62.8   13.3   47.1   89.5   20.5  
34.   10,000+ 2.52   16,698   2.8   159   60.4   32.5   24.0   74.8   26.6  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.36   19,103   3.6   83   73.5   4.4   174   91.3   18.6  
36.   Other 2.59   23,312   2.8   180   59.3   31.3   573   77.4   23.3   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 2-6, 2004                        For immediate release
3. Commercial and industrial loans made by large domestic banks1                          March 18, 2004
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 3.12   35,670   456   556   61.7   21.9   40.0   83.6   22.8  
 2.   Mininal risk 1.49   853   1,402   289   85.8   64.9   19.0   90.5   28.5  
 3.   Low risk 1.76   7,763   2,768   374   62.6   39.9   10.7   66.2   32.7  
 4.   Moderate risk 3.11   12,558   604   706   55.0   21.9   39.9   87.9   18.6  
 5.   Other 4.29   9,878   320   549   71.9   5.2   59.5   91.7   19.7  
 
 6. Zero interval 3.53   11,554   317   499   62.2   8.5   53.7   73.8   16.7  
 7.   Mininal risk 1.45   383   1,030   225   96.7   59.7   33.6   95.3   14.4  
 8.   Low risk 1.64   3,338   4,305   109   40.1   .8   12.1   25.8   21.8  
 9.   Moderate risk 3.87   2,827   253   615   57.4   4.5   72.7   95.5   14.8  
10.   Other 4.84   4,338   252   669   75.6   1.4   71.5   92.2   18.4  
 
11. Daily 2.57   9,127   418   460   62.9   35.6   35.5   78.4   32.4  
12.   Mininal risk 1.49   34   765   622   2.2   1.9   60.9   61.0   2.9  
13.   Low risk 1.64   2,647   3,770   452   90.7   88.1   7.8   99.0   43.0  
14.   Moderate risk 2.67   3,310   654   565   56.0   26.3   31.7   67.1   18.4  
15.   Other 3.67   861   211   203   49.3   1.5   47.3   68.0   26.5  
 
16. 2 to 30 days 3.02   7,982   592   534   68.0   21.5   34.7   94.8   20.3  
17.   Mininal risk 1.45   373   3,328   305   85.3   86.7   2.4   99.8   43.5  
18.   Low risk 2.22   1,169   1,225   682   61.6   41.0   14.6   93.8   19.3  
19.   Moderate risk 2.86   3,163   1,241   618   66.5   22.5   32.4   95.8   17.9  
20.   Other 3.98   2,358   344   398   76.8   6.2   53.8   95.1   14.9  
 
21. 31 to 365 days 3.15   4,356   1,655   414   61.0   18.8   32.3   94.3   28.6  
22.   Mininal risk 1.75   55   1,318   307   74.0   .0   3.0   14.8   34.8  
23.   Low risk 2.18   496   1,932   377   75.8   51.4   6.5   93.1   24.6  
24.   Moderate risk 3.14   1,794   2,092   397   56.2   8.9   40.7   94.4   33.3  
25.   Other 3.68   1,555   1,516   421   71.8   17.2   39.1   96.7   28.5  
  Months  
26. More than 365 days 3.50   2,458   1,053   47   34.3   42.7   22.1   91.9   14.4  
27.   Mininal risk 3.82   6   236   41   8.0   7.1   15.4   69.2   21.1  
28.   Low risk 1.89   112   989   21   20.5   5.3   10.2   84.8   41.3  
29.   Moderate risk 3.14   1,397   1,862   58   18.7   63.2   6.8   95.1   9.7  
30.   Other 4.25   657   794   32   60.8   3.5   65.9   94.5   18.9  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 4.31   1,445   3.6   41   81.1   9.4   80.1   92.6   18.6  
32.   100 - 999 3.95   6,377   3.5   68   69.7   7.4   71.7   94.4   18.4  
33.   1,000 - 9,999 3.39   11,811   3.3   96   58.4   15.5   42.8   89.9   21.3  
34.   10,000+ 2.48   16,036   2.8   155   59.1   33.6   21.8   73.8   27.0  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.14   14,276   3.5   48   67.3   4.7   235   93.5   20.1  
36.   Other 2.44   21,394   2.8   159   57.9   33.4   1,231   77.0   25.1   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 2-6, 2004                        For immediate release
4. Commercial and industrial loans made by small domestic banks1                          March 18, 2004
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 4.83   6,746   94   631   87.1   4.6   71.6   84.0   11.3  
 2.   Mininal risk 3.80   398   147   566   78.9   1.7   33.4   90.1   3.0  
 3.   Low risk 4.18   1,127   117   389   66.8   3.9   45.6   86.3   3.3  
 4.   Moderate risk 5.08   2,119   84   900   90.1   9.1   74.4   76.8   8.1  
 5.   Other 4.79   2,497   138   439   93.4   2.5   90.4   91.6   19.5  
 
 6. Zero interval 4.84   2,169   65   686   89.1   7.2   77.8   84.9   6.2  
 7.   Mininal risk 4.20   43   70   353   49.1   5.6   53.6   98.9   .7  
 8.   Low risk 4.84   415   99   389   88.0   2.6   70.6   78.9   3.4  
 9.   Moderate risk 4.65   909   80   1,151   88.9   13.5   75.3   82.8   8.0  
10.   Other 4.93   527   50   387   93.8   3.7   97.7   88.8   6.2  
 
11. Daily 4.53   970   188   350   81.8   .8   76.7   94.4   2.2  
12.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
13.   Low risk 2.19   165   157   82   22.5   3.3   23.2   97.1   .3  
14.   Moderate risk 5.44   312   148   557   94.1   .5   97.6   92.4   1.2  
15.   Other 5.02   323   250   205   90.9   .3   71.8   98.4   4.9  
 
16. 2 to 30 days 3.68   692   118   338   56.3   6.2   62.7   90.7   3.6  
17.   Mininal risk 1.76   54   412   278   1.6   7.8   .8   99.4   5.9  
18.   Low risk 1.56   154   293   70   12.0   1.7   6.0   98.3   4.4  
19.   Moderate risk 4.31   135   74   409   74.9   2.9   68.1   62.9   5.6  
20.   Other 4.64   343   115   441   77.0   9.3   96.3   97.7   1.9  
 
21. 31 to 365 days 5.11   1,407   95   221   93.5   2.4   72.1   81.2   24.5  
22.   Mininal risk 2.68   56   55   129   87.7   .3   33.3   72.8   17.5  
23.   Low risk 4.64   202   101   172   80.7   2.6   24.2   86.1   6.6  
24.   Moderate risk 6.05   340   59   244   91.6   5.3   72.3   51.5   8.8  
25.   Other 4.86   735   409   232   98.8   1.2   93.6   97.8   34.1  
  Months  
26. More than 365 days 5.30   1,502   117   41   95.7   4.3   63.1   75.3   17.8  
27.   Mininal risk 5.57   165   223   28   98.6   .0   6.7   86.0   .0  
28.   Low risk 6.20   187   102   37   90.1   8.7   66.3   83.4   .0  
29.   Moderate risk 5.18   422   108   44   93.3   11.0   59.1   77.4   14.4  
30.   Other 4.55   569   398   29   97.4   .4   86.4   78.7   33.6  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 5.92   1,340   3.1   336   90.4   3.5   67.6   74.3   5.1  
32.   100 - 999 5.16   2,234   3.1   238   87.6   5.9   76.9   80.9   5.4  
33.   1,000 - 9,999 4.28   2,510   3.4   202   83.3   3.1   67.2   87.6   16.5  
34.   10,000+ 3.63   662   3.7   274   92.7   7.9   78.2   100.0   19.2  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 5.03   4,827   3.6   186   91.9   3.4   99   84.8   13.8  
36.   Other 4.34   1,918   2.5   403   74.9   7.6   82   81.7   4.7   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 2-6, 2004                            For immediate release
5. Commercial and industrial loans made by U.S. branches and agencies of foreign banks1       March 18, 2004
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 2.18   21,184   4,894   89   11.2   52.7   3.5   61.9   10.7  
 2.   Mininal risk 1.64   626   3,682   139   22.6   19.2   .1   90.6   6.5  
 3.   Low risk 1.84   4,917   7,384   61   3.0   61.5   1.4   63.6   4.9  
 4.   Moderate risk 2.10   5,185   3,739   63   30.8   71.7   6.0   72.2   11.2  
 5.   Other 2.62   7,566   4,488   130   6.0   28.2   4.7   72.3   14.0  
 
 6. Zero interval 4.72   812   1,154   610   29.1   3.7   56.4   100.0   12.6  
 7.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
 8.   Low risk 4.13   184   2,434   263   5.0   .0   4.0   100.0   3.9  
 9.   Moderate risk 4.77   191   962   878   64.4   5.7   91.0   100.0   22.0  
10.   Other 4.97   428   1,041   763   24.4   4.5   64.8   100.0   12.3  
 
11. Daily 1.87   11,303   8,528   3   3.8   46.1   .3   54.3   10.1  
12.   Mininal risk 1.57   298   5,250   18   8.5   .0   .0   100.0   .0  
13.   Low risk 1.47   3,529   15,569   3   .5   62.4   .0   56.4   .0  
14.   Moderate risk 1.71   1,787   5,115   2   21.1   43.1   1.9   76.7   9.3  
15.   Other 2.28   4,231   8,023   3   .2   20.6   .1   58.6   19.8  
 
16. 2 to 30 days 2.20   5,985   3,899   110   20.1   77.3   2.2   58.7   15.2  
17.   Mininal risk 1.76   231   3,498   302   38.9   25.3   .0   74.7   7.7  
18.   Low risk 2.70   935   3,472   214   3.1   71.8   2.0   73.0   15.7  
19.   Moderate risk 2.01   2,446   4,155   47   38.1   91.6   2.4   59.2   13.9  
20.   Other 2.76   1,416   3,113   159   10.0   74.8   3.5   79.8   17.4  
 
21. 31 to 365 days 2.60   2,205   3,052   245   22.7   59.2   5.1   80.2   8.1  
22.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
23.   Low risk 2.14   260   3,055   175   30.8   57.1   14.7   100.0   14.5  
24.   Moderate risk 2.60   760   3,038   170   21.4   91.1   5.8   96.5   6.9  
25.   Other 3.20   622   2,393   339   32.6   29.8   3.2   91.0   5.0  
  Months  
26. More than 365 days ...   ...   ...   ...   ...   ...   ...   ...   ...  
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 4.39   16   3.3   27   59.8   26.4   59.7   96.1   10.2  
32.   100 - 999 3.34   709   3.3   32   23.6   44.7   29.5   84.6   14.4  
33.   1,000 - 9,999 2.44   5,756   3.2   18   11.3   59.3   7.3   66.3   11.1  
34.   10,000+ 2.01   14,703   3.2   40   10.5   50.6   .7   59.1   10.2  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.93   747   3.4   28   37.6   11.7   815   99.2   18.8  
36.   Other 2.08   20,437   3.2   34   10.2   54.2   5,988   60.5   10.2   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 2-6, 2004                                 For immediate release
6. Commercial and industrial loans by date pricing terms were set and commitment status            March 18, 2004
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 2.57   26,235   525   3.0   139   29.9   34.0   16.0  
 2.   Not under commitment 2.33   15,011   603   3.0   68   29.7   42.8   11.1  
 3.   Informal commitment 2.29   7,473   460   3.1   85   15.7   19.2   12.6  
 4.   Formal commitment 4.06   3,751   424   3.1   528   59.1   28.3   42.5  
    Before survey week9
 5.   Up to 90 days 3.59   4,597   222   3.4   78   56.7   18.2   50.2  
 6.   91 to 365 days 3.57   11,268   235   3.2   55   66.8   26.8   50.3  
 6.   More than 365 days 3.06   21,472   602   3.3   87   57.0   30.4   35.6  
 
Domestic banks
 8. During survey week 3.38   11,662   244   2.8   264   53.7   9.5   34.9  
 9.   Not under commitment 2.86   6,940   291   2.7   136   49.2   3.0   23.9  
10.   Informal commitment 3.79   1,752   114   3.0   121   65.2   7.4   53.2  
11.   Formal commitment 4.36   2,970   345   3.1   646   57.6   26.0   49.8  
    Before survey week9
12.   Up to 90 days 3.67   3,984   196   3.4   88   61.6   12.4   56.4  
13.   91 to 365 days 3.62   9,757   206   3.2   57   75.4   20.1   56.0  
14.   More than 365 days 3.20   16,984   492   3.2   105   69.3   26.9   43.0  
 
Large domestic banks
15. During survey week 2.67   8,161   1,030   2.8   239   40.9   10.7   22.9  
16.   Not under commitment 2.29   5,857   978   2.6   55   41.3   2.1   15.9  
17.   Informal commitment 2.95   341   512   3.1   15   42.7   5.7   45.3  
18.   Formal commitment 3.74   1,963   1,547   3.2   825   39.5   37.2   40.0  
    Before survey week9
19.   Up to 90 days 3.49   3,405   310   3.5   88   58.3   13.9   53.6  
20.   91 to 365 days 3.48   8,676   295   3.2   56   73.5   22.3   53.8  
21.   More than 365 days 3.07   15,426   516   3.1   88   66.7   29.4   38.3  
 
Small domestic banks
22. During survey week 5.04   3,501   88   2.9   322   83.6   6.8   62.9  
23.   Not under commitment 5.91   1,082   61   3.0   574   91.7   7.9   67.6  
24.   Informal commitment 4.00   1,412   96   3.0   146   70.7   7.8   55.1  
25.   Formal commitment 5.57   1,008   137   2.8   298   92.9   4.3   68.8  
    Before survey week9
26.   Up to 90 days 4.74   580   62   2.9   83   81.1   3.6   72.8  
27.   91 to 365 days 4.70   1,081   60   3.4   59   90.5   2.2   73.2  
28.   More than 365 days 4.47   1,558   337   4.2   273   94.6   1.6   88.9  
 
Foreign banks
29. During survey week 1.91   14,573   6,433   3.2   39   10.9   53.6   .9  
30.   Not under commitment 1.88   8,072   7,346   3.3   10   13.0   77.0   .1  
31.   Informal commitment 1.83   5,721   6,212   3.1   75   .6   22.8   .2  
32.   Formal commitment 2.89   781   3,178   3.0   78   64.6   37.1   15.1  
    Before survey week9
33.   Up to 90 days 3.05   613   1,582   3.2   18   24.8   55.9   9.5  
34.   91 to 365 days 3.24   1,510   2,908   2.9   47   11.2   70.3   13.7  
35.   More than 365 days 2.55   4,488   3,879   3.5   16   10.4   43.6   7.7   
...  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 4.08   4.09   4.01   4.31   4.00  
Standard error of loan rate4 .23   .23   .23   .18   .28  

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: March 18, 2004