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

Release Date: September 29, 2004
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FEDERAL RESERVE STATISTICAL RELEASE




E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 2-6, 2004                          For immediate release
1. Commercial and industrial loans made by all commercial banks1                      September 29, 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 3.51   74,015   454   496   42.1   26.5   29.4   77.7   17.3  
 2.   Mininal risk 2.48   2,219   640   421   36.4   12.5   16.7   82.4   5.1  
 3.   Low risk 2.64   13,633   933   637   17.0   47.1   12.5   79.2   16.0  
 4.   Moderate risk 3.29   23,693   500   568   47.5   23.9   29.5   83.4   16.3  
 5.   Other 3.91   23,104   437   398   54.6   11.1   40.9   73.8   20.4  
 
 6. Zero interval 4.52   13,304   178   641   68.1   6.9   69.2   90.8   14.3  
 7.   Mininal risk 2.75   372   272   411   52.4   30.7   19.9   99.1   4.0  
 8.   Low risk 3.96   1,337   283   629   45.6   1.4   38.5   97.2   14.7  
 9.   Moderate risk 4.43   4,435   203   637   65.7   2.7   79.9   92.5   14.1  
10.   Other 4.92   5,071   180   739   72.4   2.7   79.0   86.4   15.4  
 
11. Daily 2.56   24,657   840   202   29.8   29.7   16.1   63.5   24.2  
12.   Mininal risk 1.99   695   1,568   63   23.7   5.9   17.0   84.9   5.5  
13.   Low risk 1.99   5,729   2,377   293   4.4   55.7   4.6   65.1   32.4  
14.   Moderate risk 2.73   7,481   815   279   44.3   17.3   19.9   83.7   19.0  
15.   Other 2.74   6,612   1,090   59   36.8   14.1   8.2   44.0   17.6  
 
16. 2 to 30 days 3.07   15,479   708   475   36.6   31.3   17.8   78.2   11.3  
17.   Mininal risk 2.07   644   3,070   503   26.8   14.1   2.6   72.0   1.8  
18.   Low risk 2.32   3,068   1,507   689   14.0   54.1   6.2   95.5   5.1  
19.   Moderate risk 3.05   5,652   1,300   483   43.1   37.0   13.0   76.7   13.4  
20.   Other 3.93   4,203   366   296   51.1   17.5   35.4   70.3   12.6  
 
21. 31 to 365 days 4.18   16,236   705   533   41.7   34.6   23.4   87.7   18.2  
22.   Mininal risk 3.33   467   577   759   51.2   6.4   32.3   83.8   9.6  
23.   Low risk 3.29   3,082   810   919   23.4   47.0   18.4   82.0   7.0  
24.   Moderate risk 3.15   4,715   607   721   46.1   32.6   14.4   87.4   19.0  
25.   Other 3.83   5,276   1,349   293   60.6   13.1   40.9   94.1   30.7  
  Months  
26. More than 365 days 4.99   3,999   336   58   50.4   23.2   44.9   77.6   14.3  
27.   Mininal risk 5.52   33   55   50   87.7   4.9   10.3   25.1   6.0  
28.   Low risk 5.55   335   208   114   66.9   31.2   39.3   78.3   2.4  
29.   Moderate risk 4.15   1,295   360   58   27.5   46.9   36.2   64.3   7.1  
30.   Other 5.57   1,806   861   43   57.2   3.3   62.9   94.9   21.1  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 5.24   2,954   3.4   148   84.3   5.7   74.2   84.4   13.8  
32.   100 - 999 4.42   10,631   3.4   94   73.2   8.6   69.9   90.4   14.3  
33.   1,000 - 9,999 3.45   24,378   3.2   116   45.9   21.0   33.6   80.2   16.4  
34.   10,000+ 3.13   36,052   3.1   94   26.9   37.2   11.0   71.7   19.5  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.69   21,773   3.5   136   72.3   5.8   191   88.8   19.5  
36.   Other 3.01   52,242   3.1   90   29.5   35.2   1,063   73.0   16.3   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 2-6, 2004                          For immediate release
2. Commercial and industrial loans made by domestic banks1                            September 29, 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 3.70   48,143   305   702   53.4   19.5   43.2   86.5   19.6  
 2.   Mininal risk 2.91   1,320   404   650   55.8   11.0   28.1   77.6   6.6  
 3.   Low risk 2.79   9,187   656   862   22.3   51.5   16.4   91.1   19.6  
 4.   Moderate risk 3.60   16,088   354   774   51.9   17.2   40.4   83.7   16.1  
 5.   Other 4.39   14,630   288   561   71.4   5.4   62.6   89.1   21.9  
 
 6. Zero interval 4.50   12,691   171   636   68.7   7.3   68.8   90.3   13.9  
 7.   Mininal risk 2.77   362   265   411   51.1   31.6   20.4   99.0   4.1  
 8.   Low risk 3.78   1,143   245   606   48.1   1.6   36.9   96.8   13.8  
 9.   Moderate risk 4.42   4,151   193   630   65.4   2.9   79.0   92.0   13.5  
10.   Other 4.90   4,947   178   740   72.7   2.8   78.8   86.1   15.3  
 
11. Daily 2.98   11,145   400   448   38.1   31.5   34.4   86.1   28.2  
12.   Mininal risk 2.28   224   656   185   52.2   .0   52.8   53.1   6.3  
13.   Low risk 2.06   3,379   1,516   456   5.7   76.9   7.8   98.3   36.3  
14.   Moderate risk 3.13   4,135   476   514   47.8   19.6   33.5   79.7   16.3  
15.   Other 4.29   1,048   191   452   74.3   .4   47.4   65.3   15.1  
 
16. 2 to 30 days 3.19   9,444   462   668   49.9   23.4   27.9   87.6   13.4  
17.   Mininal risk 2.38   288   1,910   1,074   59.8   .0   5.8   68.9   3.7  
18.   Low risk 2.40   2,306   1,235   797   18.3   53.8   8.2   97.4   6.2  
19.   Moderate risk 3.16   3,319   878   687   49.2   25.2   20.8   83.8   15.6  
20.   Other 4.25   2,387   217   463   83.9   2.0   59.3   92.5   12.6  
 
21. 31 to 365 days 3.65   10,901   500   696   52.6   16.6   32.7   85.2   24.3  
22.   Mininal risk 3.51   404   523   746   55.6   7.4   37.4   81.9   11.4  
23.   Low risk 3.49   1,943   536   1,314   30.1   39.5   23.7   71.4   9.7  
24.   Moderate risk 3.37   3,099   423   934   51.4   12.6   20.6   85.6   22.8  
25.   Other 3.85   4,660   1,359   299   62.1   11.7   44.7   94.3   32.4  
  Months  
26. More than 365 days 4.63   3,621   306   56   55.7   25.6   48.9   75.3   16.2  
27.   Mininal risk 5.52   33   55   50   87.7   4.9   10.3   25.1   6.0  
28.   Low risk 5.55   335   208   114   66.9   31.2   39.3   78.3   2.4  
29.   Moderate risk 4.14   1,269   359   58   28.0   47.7   34.9   63.6   7.3  
30.   Other 4.80   1,453   696   36   71.0   4.1   78.2   93.7   26.5  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 5.25   2,930   3.4   149   84.5   5.6   74.2   84.3   13.7  
32.   100 - 999 4.48   9,851   3.4   97   76.6   6.5   72.9   90.6   14.4  
33.   1,000 - 9,999 3.81   16,636   3.3   164   59.3   12.4   44.8   87.5   18.9  
34.   10,000+ 2.94   18,727   3.0   153   31.2   34.7   21.2   83.8   24.1  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.69   20,779   3.5   140   73.9   5.3   185   88.3   19.8  
36.   Other 2.95   27,364   2.9   149   37.9   30.2   603   85.2   19.5   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 2-6, 2004                          For immediate release
3. Commercial and industrial loans made by large domestic banks1                      September 29, 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 3.40   39,724   487   646   46.5   22.9   37.3   87.8   20.6  
 2.   Mininal risk 2.55   1,115   1,827   683   50.9   13.1   26.3   83.2   5.6  
 3.   Low risk 2.39   7,715   2,253   660   14.2   59.6   10.2   94.6   22.0  
 4.   Moderate risk 3.34   14,009   662   732   47.0   19.1   35.4   84.0   17.4  
 5.   Other 4.24   11,217   359   573   64.3   6.6   54.7   87.9   21.1  
 
 6. Zero interval 4.35   10,095   269   664   63.9   8.6   66.4   91.4   15.0  
 7.   Mininal risk 2.51   317   1,093   421   45.7   36.1   10.6   99.7   3.6  
 8.   Low risk 3.40   876   1,074   668   39.6   2.0   27.1   97.7   15.7  
 9.   Moderate risk 4.19   3,032   309   631   58.0   2.7   74.1   95.0   14.8  
10.   Other 4.87   4,299   267   785   69.7   2.8   77.8   86.2   15.8  
 
11. Daily 2.92   10,292   475   449   37.1   34.0   32.4   85.2   30.6  
12.   Mininal risk 2.14   217   2,179   164   50.7   .0   51.3   51.7   6.0  
13.   Low risk 2.05   2,972   3,745   508   4.1   87.3   6.2   98.1   41.3  
14.   Moderate risk 3.06   3,995   619   518   46.7   20.2   31.3   79.1   16.8  
15.   Other 4.21   887   226   232   72.2   .4   37.9   59.4   18.7  
 
16. 2 to 30 days 3.09   8,801   601   666   48.0   24.7   25.1   88.4   14.1  
17.   Mininal risk 2.34   262   2,624   1,139   62.0   .0   2.7   69.0   1.5  
18.   Low risk 2.31   2,242   1,852   737   16.0   55.3   8.1   97.8   6.3  
19.   Moderate risk 3.06   3,147   1,261   686   48.1   26.2   17.8   84.5   16.2  
20.   Other 4.22   2,068   261   476   86.0   1.2   55.3   95.0   14.1  
 
21. 31 to 365 days 3.04   8,104   2,183   627   38.6   21.8   17.1   88.9   23.8  
22.   Mininal risk 2.96   307   4,831   921   46.2   9.7   42.9   100.0   9.9  
23.   Low risk 2.59   1,461   3,116   810   12.5   50.7   5.4   84.7   9.5  
24.   Moderate risk 3.00   2,664   2,402   836   45.7   14.3   16.6   85.7   25.6  
25.   Other 3.36   3,179   2,247   339   45.0   17.1   21.9   91.8   31.5  
  Months  
26. More than 365 days 3.98   2,104   905   47   26.2   37.7   45.6   76.8   15.1  
27.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
28.   Low risk 3.47   83   668   40   6.3   5.9   82.8   59.2   11.3  
29.   Moderate risk 3.70   1,066   1,383   52   15.5   54.3   36.4   63.6   8.3  
30.   Other 4.56   653   813   38   36.4   7.8   75.2   95.0   27.0  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 4.57   1,537   3.6   44   81.1   9.3   79.5   91.6   16.3  
32.   100 - 999 4.21   7,264   3.5   59   72.6   7.7   72.9   94.4   16.6  
33.   1,000 - 9,999 3.59   13,303   3.2   116   54.2   15.0   39.7   90.5   19.0  
34.   10,000+ 2.82   17,619   2.9   130   26.8   36.3   17.2   82.8   24.2  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.48   14,828   3.5   115   67.1   6.9   236   90.8   20.2  
36.   Other 2.76   24,896   2.9   105   34.2   32.5   1,327   86.0   20.8   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 2-6, 2004                          For immediate release
4. Commercial and industrial loans made by small domestic banks1                      September 29, 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 5.09   8,420   110   969   86.3   3.2   70.7   80.3   14.5  
 2.   Mininal risk 4.86   204   77   467   82.5   .0   38.0   47.0   16.7  
 3.   Low risk 4.86   1,472   139   1,949   65.1   8.8   48.6   72.8   3.6  
 4.   Moderate risk 5.33   2,079   86   1,095   84.7   4.1   74.6   82.0   7.2  
 5.   Other 4.91   3,413   174   522   94.5   1.5   88.4   92.9   24.4  
 
 6. Zero interval 5.07   2,596   71   513   87.6   2.2   78.4   86.0   9.4  
 7.   Mininal risk 4.60   45   42   334   88.6   .0   89.3   94.4   7.4  
 8.   Low risk 5.01   267   69   311   75.9   .2   69.1   93.6   7.2  
 9.   Moderate risk 5.05   1,119   96   627   85.3   3.4   92.1   83.8   9.5  
10.   Other 5.09   648   56   424   93.1   2.8   85.4   85.6   12.2  
 
11. Daily 3.69   853   138   434   50.2   .3   57.7   96.9   1.5  
12.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
13.   Low risk 2.16   407   284   90   17.2   .5   19.3   99.6   .6  
14.   Moderate risk 5.28   141   63   427   78.9   .3   96.9   95.7   4.8  
15.   Other 4.74   161   103   1,362   86.0   .0   100.0   98.0   1.9  
 
16. 2 to 30 days 4.53   642   111   685   74.6   5.1   66.9   76.8   2.6  
17.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
18.   Low risk 5.67   64   98   2,787   98.7   .0   12.0   83.3   .6  
19.   Moderate risk 4.99   172   134   709   70.4   6.2   76.2   71.5   3.9  
20.   Other 4.42   319   103   388   70.1   7.0   85.1   75.9   .5  
 
21. 31 to 365 days 5.41   2,797   155   900   93.2   1.4   78.1   74.5   26.4  
22.   Mininal risk 5.25   97   137   196   85.4   .0   20.1   24.8   30.7  
23.   Low risk 6.23   482   153   2,839   83.5   5.7   79.2   31.0   11.2  
24.   Moderate risk 5.62   435   70   1,543   86.3   2.4   45.3   85.0   5.0  
25.   Other 4.91   1,481   735   213   98.7   .0   93.7   99.5   34.2  
  Months  
26. More than 365 days 5.54   1,517   160   70   96.6   8.9   53.5   73.2   17.8  
27.   Mininal risk 5.48   29   51   49   98.3   .0   4.8   17.3   4.0  
28.   Low risk 6.24   252   169   139   87.0   39.6   24.9   84.6   .4  
29.   Moderate risk 6.47   203   73   92   93.7   13.0   27.1   63.8   2.0  
30.   Other 4.99   800   623   34   99.3   1.1   80.6   92.6   26.1  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 6.00   1,393   3.2   262   88.4   1.6   68.4   76.4   10.3  
32.   100 - 999 5.23   2,588   3.1   205   87.7   3.1   72.9   79.9   7.0  
33.   1,000 - 9,999 4.67   3,332   3.6   355   79.8   2.1   65.3   75.6   18.6  
34.   10,000+ 4.87   1,107   4.0   533   100.0   8.7   84.8   100.0   23.4  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 5.20   5,952   3.7   201   91.0   1.4   120   81.8   18.7  
36.   Other 4.81   2,468   2.7   598   75.1   7.4   93   76.5   3.9   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 2-6, 2004                              For immediate release
5. Commercial and industrial loans made by U.S. branches and agencies of foreign banks1   September 29, 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 3.15   25,872   5,116   134   21.0   39.7   3.8   61.2   11.4  
 2.   Mininal risk 1.87   900   4,437   74   8.1   14.7   .0   89.6   3.2  
 3.   Low risk 2.33   4,446   7,394   174   5.9   38.1   4.5   54.6   3.7  
 4.   Moderate risk 2.63   7,605   4,033   153   38.3   38.0   6.3   82.8   16.6  
 5.   Other 3.07   8,474   4,307   137   25.7   20.8   3.6   47.5   15.7  
 
 6. Zero interval 4.87   613   761   762   56.3   .0   76.4   99.6   20.9  
 7.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
 8.   Low risk 4.99   194   2,803   792   30.8   .0   48.0   100.0   20.0  
 9.   Moderate risk 4.55   284   887   784   70.7   .0   94.2   100.0   23.2  
10.   Other 5.67   124   303   698   59.7   .0   86.3   98.2   18.7  
 
11. Daily 2.21   13,512   8,915   17   22.9   28.3   1.1   44.9   17.9  
12.   Mininal risk 1.85   471   4,642   3   10.1   8.8   .0   100.0   5.3  
13.   Low risk 1.89   2,350   12,952   66   2.5   25.4   .0   17.3   .0  
14.   Moderate risk 2.24   3,346   6,815   20   39.9   14.5   3.1   88.7   22.0  
15.   Other 2.45   5,564   9,565   2   29.7   16.6   .9   40.0   18.4  
 
16. 2 to 30 days 2.89   6,035   4,262   180   15.9   43.6   2.0   63.5   6.8  
17.   Mininal risk 1.83   355   6,055   48   .0   25.5   .0   74.5   .5  
18.   Low risk 2.06   762   4,510   376   1.1   54.9   .1   89.8   1.5  
19.   Moderate risk 2.88   2,333   4,111   192   34.3   53.9   1.8   66.6   9.6  
20.   Other 3.51   1,816   3,768   83   8.1   37.8   4.1   41.1   12.7  
 
21. 31 to 365 days 5.25   5,334   4,283   191   19.4   71.4   4.3   92.8   6.6  
22.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
23.   Low risk 2.95   1,139   6,278   182   12.0   59.7   9.5   100.0   3.6  
24.   Moderate risk 2.73   1,616   3,648   306   35.9   71.0   2.4   90.9   12.1  
25.   Other 3.67   616   1,278   244   48.9   24.0   11.9   93.0   17.8  
  Months  
26. More than 365 days 8.44   378   5,061   69   .0   .3   6.7   100.0   .2  
27.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
28.   Low risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
29.   Moderate risk 4.41   25   398   25   .0   4.5   100.0   100.0   2.1  
30.   Other ...   ...   ...   ...   ...   ...   ...   ...   ...  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 4.71   24   3.7   20   49.6   12.7   69.8   94.7   18.8  
32.   100 - 999 3.69   779   3.4   56   31.4   36.3   31.8   87.7   12.3  
33.   1,000 - 9,999 2.68   7,743   3.0   14   17.0   39.5   9.4   64.4   9.1  
34.   10,000+ 3.34   17,326   3.4   29   22.3   39.9   .0   58.6   12.4  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.71   994   3.2   41   39.2   15.8   779   99.8   13.4  
36.   Other 3.09   24,878   3.2   25   20.3   40.6   6,578   59.7   11.2   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 2-6, 2004                                   For immediate release
6. Commercial and industrial loans by date pricing terms were set and commitment status        September 29, 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 3.53   28,825   553   3.2   115   29.5   31.1   16.2  
 2.   Not under commitment 3.05   16,523   616   3.4   125   31.8   34.5   14.8  
 3.   Informal commitment 2.71   5,455   353   2.9   75   20.3   14.5   16.6  
 4.   Formal commitment 5.33   6,847   697   2.9   124   31.3   36.1   19.5  
    Before survey week9
 5.   Up to 90 days 3.51   9,921   339   3.0   145   47.3   29.6   38.8  
 6.   91 to 365 days 3.75   11,456   282   3.1   86   49.9   26.1   39.8  
 6.   More than 365 days 3.36   23,780   593   3.3   80   51.3   20.0   36.4  
 
Domestic banks
 8. During survey week 3.97   11,975   242   3.0   249   51.3   9.8   38.0  
 9.   Not under commitment 4.06   6,494   253   3.1   311   49.7   7.8   37.5  
10.   Informal commitment 4.39   1,624   113   3.1   231   67.9   10.6   52.0  
11.   Formal commitment 3.63   3,857   407   2.8   154   46.9   13.0   32.8  
    Before survey week9
12.   Up to 90 days 3.55   8,047   280   3.0   154   49.8   23.9   43.9  
13.   91 to 365 days 3.83   9,248   231   3.2   102   57.9   21.6   48.0  
14.   More than 365 days 3.52   18,840   486   3.3   97   54.1   22.7   43.7  
 
Large domestic banks
15. During survey week 3.28   7,918   858   3.1   158   36.8   11.9   26.6  
16.   Not under commitment 3.37   4,834   705   3.2   196   37.0   9.4   28.1  
17.   Informal commitment 2.38   470   1,181   3.0   15   16.2   1.2   14.6  
18.   Formal commitment 3.27   2,614   1,325   2.9   115   40.0   18.5   26.1  
    Before survey week9
19.   Up to 90 days 3.34   7,057   375   2.9   151   43.9   27.2   39.7  
20.   91 to 365 days 3.67   8,201   326   3.2   88   53.6   24.3   46.3  
21.   More than 365 days 3.35   16,548   584   3.2   77   48.7   25.7   37.0  
 
Small domestic banks
22. During survey week 5.30   4,057   101   2.8   427   79.6   5.7   60.2  
23.   Not under commitment 6.06   1,661   88   2.7   646   86.6   2.9   65.1  
24.   Informal commitment 5.20   1,153   82   3.2   319   89.0   14.4   67.3  
25.   Formal commitment 4.39   1,243   165   2.6   235   61.5   1.5   47.0  
    Before survey week9
26.   Up to 90 days 5.05   990   99   3.7   179   92.2   .3   73.6  
27.   91 to 365 days 5.08   1,047   71   3.7   205   91.6   .9   61.6  
28.   More than 365 days 4.72   2,292   219   4.1   235   93.0   1.0   92.0  
 
Foreign banks
29. During survey week 3.22   16,850   6,528   3.3   20   14.0   46.2   .8  
30.   Not under commitment 2.40   10,029   8,477   3.6   6   20.2   51.8   .0  
31.   Informal commitment 2.00   3,831   3,626   2.8   9   .2   16.2   1.6  
32.   Formal commitment 7.52   2,990   8,754   3.0   85   11.1   65.8   2.4  
    Before survey week9
33.   Up to 90 days 3.34   1,874   3,776   3.0   107   36.8   54.2   16.8  
34.   91 to 365 days 3.41   2,208   3,419   2.8   21   16.0   44.8   5.6  
35.   More than 365 days 2.74   4,940   3,703   3.3   15   40.9   9.6   8.5   
...  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 4.29   4.29   4.25   4.39   4.25  
Standard error of loan rate4 .16   .17   .15   .20   .23  

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: September 29, 2004