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 17, 2008
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FEDERAL RESERVE STATISTICAL RELEASE




E.2 SURVEY OF TERMS OF BUSINESS LENDING, NOVEMBER 3-7, 2008                        For immediate release
1. Commercial and industrial loans made by all commercial banks1                       December 17, 2008
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 3.33   106,322   756   526   35.6   32.3   21.6   79.7   10.8  
 2.   Minimal risk 3.09   3,005   784   450   27.1   22.0   21.6   64.7   7.1  
 3.   Low risk 2.76   17,627   1,275   423   22.8   48.5   14.6   79.4   9.6  
 4.   Moderate risk 3.58   32,382   619   480   45.9   38.4   28.3   74.4   14.7  
 5.   Other 3.63   22,310   576   531   60.3   30.7   28.5   75.2   12.7  
 
 6. Zero interval 3.84   19,919   255   650   60.6   8.5   72.9   89.5   12.6  
 7.   Minimal risk 3.20   253   330   631   53.5   12.0   60.3   88.9   12.2  
 8.   Low risk 3.40   2,179   346   695   43.2   6.2   58.8   87.1   15.8  
 9.   Moderate risk 3.72   7,763   268   665   63.7   5.5   71.8   95.2   13.3  
10.   Other 4.10   5,664   251   583   66.5   4.5   77.9   86.1   11.6  
 
11. Daily 1.87   25,734   2,683   173   15.5   51.7   11.2   45.7   12.4  
12.   Minimal risk 2.38   741   3,089   75   7.0   38.5   31.4   19.8   9.4  
13.   Low risk 1.89   6,750   4,251   90   4.4   57.9   10.2   57.8   4.6  
14.   Moderate risk 1.79   7,779   1,767   121   35.0   75.9   18.1   31.1   26.6  
15.   Other 1.51   5,142   2,413   22   16.2   29.5   5.0   32.9   21.0  
 
16. 2 to 30 days 3.36   35,966   1,592   573   28.5   37.8   5.2   88.9   9.6  
17.   Minimal risk 3.21   1,256   1,756   510   19.4   23.2   5.7   74.5   3.6  
18.   Low risk 2.91   4,979   1,680   432   29.4   63.5   5.3   91.9   9.8  
19.   Moderate risk 3.81   10,155   1,446   433   32.5   46.3   8.0   83.0   14.0  
20.   Other 3.83   6,472   792   702   68.9   59.8   6.3   82.8   12.4  
 
21. 31 to 365 days 4.31   18,699   988   564   44.3   22.1   8.9   95.0   10.5  
22.   Minimal risk 3.88   490   313   581   37.5   11.2   16.9   92.4   8.8  
23.   Low risk 3.81   2,840   1,389   743   33.3   43.3   2.9   97.8   13.4  
24.   Moderate risk 5.23   5,205   713   565   61.7   24.0   12.0   90.2   13.0  
25.   Other 4.87   3,738   1,197   588   88.5   30.3   18.0   96.9   13.0  
  Months  
26. More than 365 days 4.63   5,721   539   43   54.1   27.9   34.0   89.7   9.8  
27.   Minimal risk 2.43   148   369   33   73.9   .1   13.5   45.6   14.4  
28.   Low risk 3.63   841   999   41   40.3   13.2   30.0   95.9   4.9  
29.   Moderate risk 4.94   1,449   336   48   46.2   10.1   49.6   77.4   10.0  
30.   Other 5.42   1,270   491   44   84.0   6.6   48.4   95.2   4.9  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   3 - 99 5.00   2,606   3.3   134   84.7   8.2   70.8   87.1   7.6  
32.   100 - 999 4.48   10,696   3.2   151   70.9   14.3   66.1   89.2   11.2  
33.   1,000 - 9,999 3.54   28,565   3.1   118   42.0   28.3   31.3   88.4   13.6  
34.   10,000+ 2.97   64,455   3.0   66   25.0   38.0   7.9   74.0   9.4  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.19   22,967   3.2   110   60.6   12.4   244   91.4   13.4  
36.   Other 3.09   83,355   3.0   85   28.7   37.8   1,793   76.5   10.0   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, NOVEMBER 3-7, 2008                        For immediate release
2. Commercial and industrial loans made by domestic banks1                             December 17, 2008
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 4.13   50,031   374   606   53.4   13.9   41.5   89.0   13.2  
 2.   Minimal risk 3.41   1,553   436   358   44.4   5.0   20.7   58.2   10.8  
 3.   Low risk 3.45   7,507   597   599   37.9   6.6   26.5   79.0   11.7  
 4.   Moderate risk 4.26   21,152   418   574   48.0   11.7   40.3   92.0   14.7  
 5.   Other 4.60   10,632   287   606   81.1   7.5   55.8   95.6   12.2  
 
 6. Zero interval 3.90   18,409   238   664   63.2   8.4   74.2   91.5   12.6  
 7.   Minimal risk 3.21   251   333   635   53.6   11.5   60.5   88.7   12.2  
 8.   Low risk 3.36   1,903   315   695   47.5   3.4   55.6   85.2   15.4  
 9.   Moderate risk 3.70   7,418   260   658   65.4   5.4   71.3   95.0   13.2  
10.   Other 4.38   4,784   214   637   72.2   4.1   84.9   94.6   11.9  
 
11. Daily 3.08   5,281   641   298   20.2   14.6   34.2   66.8   20.9  
12.   Minimal risk 2.96   387   1,734   107   13.4   3.5   6.8   16.5   11.2  
13.   Low risk 2.99   1,954   1,537   199   8.0   10.9   17.1   51.8   7.3  
14.   Moderate risk 3.04   2,342   571   416   16.0   21.8   48.0   82.0   27.7  
15.   Other 3.65   435   248   245   88.6   3.0   52.7   94.9   25.4  
 
16. 2 to 30 days 4.11   11,565   596   491   42.6   18.1   14.7   92.1   13.7  
17.   Minimal risk 3.69   391   726   263   56.3   1.2   6.3   53.8   7.3  
18.   Low risk 3.54   1,790   715   748   47.4   5.9   14.6   85.5   11.9  
19.   Moderate risk 4.49   6,016   962   443   31.1   17.8   13.0   96.4   13.9  
20.   Other 4.32   1,747   233   458   86.4   16.4   20.8   94.8   12.5  
 
21. 31 to 365 days 4.96   9,016   513   395   66.2   11.8   17.7   92.5   12.7  
22.   Minimal risk 4.23   331   219   248   46.8   9.4   25.0   88.8   12.4  
23.   Low risk 4.16   1,076   583   533   59.9   8.6   7.6   94.5   14.5  
24.   Moderate risk 5.46   3,896   556   375   60.6   9.1   15.6   91.2   13.5  
25.   Other 4.98   2,380   849   313   91.7   9.1   27.7   98.5   13.7  
  Months  
26. More than 365 days 4.64   5,619   531   42   53.6   26.7   34.6   89.6   9.9  
27.   Minimal risk 2.43   148   369   33   73.9   .1   13.5   45.6   14.4  
28.   Low risk 3.58   747   894   33   34.3   2.2   33.8   95.4   5.5  
29.   Moderate risk 4.94   1,449   336   48   46.2   10.1   49.6   77.4   10.0  
30.   Other 5.42   1,263   493   44   84.3   6.5   48.5   95.2   4.8  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   3 - 99 5.01   2,582   3.3   135   84.9   8.0   71.0   87.0   7.6  
32.   100 - 999 4.57   9,832   3.2   161   73.9   11.3   69.5   89.0   10.6  
33.   1,000 - 9,999 3.88   17,471   3.1   180   52.8   17.5   45.9   92.8   15.0  
34.   10,000+ 4.03   20,145   2.9   164   39.7   12.9   20.2   85.9   13.6  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.20   20,747   3.3   121   64.0   10.8   223   91.5   12.6  
36.   Other 4.09   29,284   2.9   201   45.8   16.2   716   87.2   13.7   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, NOVEMBER 3-7, 2008                        For immediate release
3. Commercial and industrial loans made by large domestic banks1                       December 17, 2008
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 3.99   44,353   575   583   49.3   14.9   39.3   90.0   14.1  
 2.   Minimal risk 3.14   1,377   1,407   327   37.7   5.7   19.0   58.0   11.7  
 3.   Low risk 3.31   6,794   933   593   34.7   7.0   23.8   78.7   12.4  
 4.   Moderate risk 4.15   18,543   725   542   43.2   12.6   37.9   93.3   15.9  
 5.   Other 4.48   9,098   411   559   78.8   8.1   53.2   97.2   12.9  
 
 6. Zero interval 3.80   15,946   311   687   59.8   9.4   73.9   91.9   13.3  
 7.   Minimal risk 3.12   238   488   650   53.1   12.1   58.8   88.2   12.7  
 8.   Low risk 3.13   1,616   415   734   44.6   3.9   53.1   84.5   17.0  
 9.   Moderate risk 3.59   6,176   368   690   61.3   6.3   70.4   95.1   14.7  
10.   Other 4.30   4,032   305   641   68.7   4.4   84.6   96.8   11.9  
 
11. Daily 2.89   4,745   1,291   270   12.4   15.7   28.4   65.6   23.2  
12.   Minimal risk 2.71   346   3,279   35   3.3   3.9   2.2   18.2   10.9  
13.   Low risk 2.96   1,886   3,097   185   6.7   11.3   16.0   50.1   7.5  
14.   Moderate risk 2.85   2,098   1,184   396   7.0   23.8   42.8   82.8   30.1  
15.   Other 2.72   259   516   125   83.1   .1   20.9   99.5   39.7  
 
16. 2 to 30 days 4.09   10,970   735   489   40.4   18.7   12.4   92.1   14.0  
17.   Minimal risk 3.61   373   3,684   263   54.3   1.2   4.7   51.6   7.6  
18.   Low risk 3.47   1,615   868   746   45.4   5.9   11.5   86.5   12.4  
19.   Moderate risk 4.50   5,782   1,260   440   28.9   18.0   10.5   96.2   14.1  
20.   Other 4.31   1,596   262   474   85.4   17.8   17.3   94.4   13.0  
 
21. 31 to 365 days 4.77   7,988   2,015   384   63.5   12.4   15.6   95.2   13.7  
22.   Minimal risk 3.76   272   1,442   248   35.5   11.4   29.7   90.3   14.6  
23.   Low risk 3.98   958   1,444   568   57.8   9.4   3.4   97.7   15.6  
24.   Moderate risk 5.30   3,501   2,548   389   58.9   9.8   14.8   93.8   14.3  
25.   Other 4.91   2,208   1,659   284   91.3   9.7   25.1   99.6   14.3  
  Months  
26. More than 365 days 4.22   4,588   1,486   37   46.4   28.7   36.7   94.4   11.2  
27.   Minimal risk 1.62   120   1,545   30   68.0   .0   12.7   50.3   16.0  
28.   Low risk 3.34   682   3,548   31   28.1   1.4   35.0   98.4   5.7  
29.   Moderate risk 4.23   960   1,021   35   34.0   5.9   68.8   84.7   12.6  
30.   Other 5.00   979   1,109   36   79.9   6.2   55.0   97.9   5.8  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   3 - 99 4.43   1,483   3.4   49   81.2   11.6   74.2   89.2   8.0  
32.   100 - 999 4.20   7,153   3.3   97   69.1   12.5   72.1   93.6   12.1  
33.   1,000 - 9,999 3.79   16,102   3.1   168   50.4   18.6   44.7   93.6   15.8  
34.   10,000+ 4.05   19,615   2.9   158   38.7   13.0   20.3   85.8   13.9  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.03   17,427   3.3   120   59.3   11.7   311   93.1   13.7  
36.   Other 3.97   26,927   2.9   166   42.7   17.0   1,278   88.0   14.4   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, NOVEMBER 3-7, 2008                        For immediate release
4. Commercial and industrial loans made by small domestic banks1                       December 17, 2008
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 5.25   5,678   100   796   85.5   6.3   58.5   81.2   5.5  
 2.   Minimal risk 5.47   176   68   678   96.9   .2   34.1   59.4   3.7  
 3.   Low risk 4.75   713   135   647   68.0   2.8   52.0   81.4   5.7  
 4.   Moderate risk 5.10   2,609   104   820   82.4   5.8   57.3   83.2   5.2  
 5.   Other 5.30   1,534   103   893   94.3   4.0   71.2   85.9   7.6  
 
 6. Zero interval 4.55   2,463   94   506   84.9   1.7   76.6   89.3   7.4  
 7.   Minimal risk 4.78   13   48   342   64.3   .0   91.9   98.1   4.7  
 8.   Low risk 4.69   287   133   503   63.8   .3   69.6   89.1   7.2  
 9.   Moderate risk 4.25   1,242   106   469   86.2   .8   76.0   94.4   5.5  
10.   Other 4.80   752   83   612   90.7   2.6   86.7   83.0   12.1  
 
11. Daily 4.76   536   117   543   89.1   4.1   85.6   77.5   3.6  
12.   Minimal risk 5.08   40   344   1,457   100.0   .0   45.6   1.4   47.7  
13.   Low risk 3.74   67   102   541   44.6   .1   48.8   100.0   4.5  
14.   Moderate risk 4.74   244   105   586   93.8   3.8   91.9   75.4   4.9  
15.   Other 5.04   175   141   403   96.8   7.3   99.7   88.1   1.7  
 
16. 2 to 30 days 4.38   595   132   524   82.3   7.4   57.9   91.0   7.7  
17.   Minimal risk 5.36   18   41   266   99.5   1.2   40.0   100.0   4.9  
18.   Low risk 4.17   174   271   772   65.8   5.7   42.8   76.9   7.4  
19.   Moderate risk 4.28   234   141   514   87.0   12.9   73.7   99.3   8.3  
20.   Other 4.40   151   106   248   97.0   2.3   58.5   99.0   7.9  
 
21. 31 to 365 days 6.43   1,028   75   478   86.7   6.8   34.1   71.0   2.7  
22.   Minimal risk 6.37   59   45   248   98.6   .0   3.6   81.9   1.3  
23.   Low risk 5.62   118   100   255   77.0   2.0   41.8   68.6   1.5  
24.   Moderate risk 6.91   395   70   248   76.4   3.3   23.1   68.5   3.6  
25.   Other 5.90   172   117   688   97.1   2.1   60.4   85.4   5.2  
  Months  
26. More than 365 days 6.53   1,030   138   64   85.3   17.7   25.2   68.1   1.8  
27.   Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
28.   Low risk 6.10   64   100   56   99.9   10.4   21.6   63.0   1.1  
29.   Moderate risk 6.34   489   145   73   70.1   18.4   12.1   62.9   3.4  
30.   Other 6.88   283   169   73   99.3   7.6   25.9   85.5   .8  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   3 - 99 5.80   1,099   3.1   251   90.0   3.0   66.7   84.0   7.0  
32.   100 - 999 5.55   2,679   3.0   335   86.8   8.1   62.6   76.8   5.9  
33.   1,000 - 9,999 4.98   1,370   3.3   323   81.6   5.0   60.1   83.5   4.0  
34.   10,000+ ...   ...   ...   ...   ...   ...   ...   ...   ...  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 5.07   3,321   3.2   125   88.6   6.0   90   82.8   6.2  
36.   Other 5.49   2,357   2.9   597   81.1   6.8   119   79.1   4.6   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, NOVEMBER 3-7, 2008                            For immediate release
5. Commercial and industrial loans made by U.S. branches and agencies of foreign banks1    December 17, 2008
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 2.61   56,290   8,210   460   19.8   48.6   3.9   71.5   8.1  
 2.   Minimal risk 2.76   1,452   5,413   546   8.5   40.2   22.5   71.7   4.0  
 3.   Low risk 2.26   10,120   8,171   308   11.6   79.6   5.7   79.7   8.0  
 4.   Moderate risk 2.30   11,230   6,450   311   42.0   88.5   5.5   41.2   14.4  
 5.   Other 2.74   11,678   7,023   467   41.4   51.9   3.7   56.7   13.4  
 
 6. Zero interval 3.12   1,510   1,637   481   29.5   10.4   56.8   65.0   13.4  
 7.   Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
 8.   Low risk 3.69   276   1,083   694   13.6   25.4   81.4   100.0   17.6  
 9.   Moderate risk 4.04   345   923   870   26.9   6.9   82.7   100.0   15.6  
10.   Other 2.57   880   3,174   317   35.7   6.3   39.4   40.0   7.7  
 
11. Daily 1.55   20,453   15,081   145   14.3   61.3   5.2   40.3   8.8  
12.   Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
13.   Low risk 1.45   4,796   15,132   53   2.9   77.1   7.4   60.2   3.7  
14.   Moderate risk 1.26   5,437   17,854   12   43.2   99.3   5.3   9.2   22.2  
15.   Other 1.31   4,708   12,340   3   9.5   31.9   .6   27.2   19.6  
 
16. 2 to 30 days 3.01   24,402   7,682   609   21.8   47.2   .7   87.4   7.6  
17.   Minimal risk 3.00   865   4,898   621   2.6   33.1   5.5   83.9   2.5  
18.   Low risk 2.56   3,189   6,922   263   19.4   95.8   .0   95.5   8.7  
19.   Moderate risk 2.83   4,139   5,392   418   34.4   87.7   .8   63.7   14.2  
20.   Other 3.64   4,726   7,185   783   62.4   75.9   1.0   78.4   12.4  
 
21. 31 to 365 days 3.71   9,683   7,243   720   23.9   31.6   .6   97.4   8.5  
22.   Minimal risk 3.15   159   2,918   1,278   17.9   15.0   .0   100.0   2.2  
23.   Low risk 3.60   1,764   8,853   868   17.1   64.4   .0   99.9   12.8  
24.   Moderate risk 4.52   1,309   4,483   1,129   64.9   68.0   1.1   87.4   11.2  
25.   Other 4.67   1,358   4,253   1,069   82.8   67.5   .9   94.0   11.7  
  Months  
26. More than 365 days 4.05   102   2,725   98   84.1   94.7   3.0   100.0   1.5  
27.   Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
28.   Low risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
29.   Moderate risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
30.   Other ...   ...   ...   ...   ...   ...   ...   ...   ...  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   3 - 99 3.97   23   2.9   53   52.6   30.5   55.0   97.8   12.5  
32.   100 - 999 3.51   864   3.2   29   36.6   48.7   27.5   90.7   17.2  
33.   1,000 - 9,999 3.00   11,094   3.1   21   24.8   45.4   8.3   81.6   11.1  
34.   10,000+ 2.49   44,309   3.0   22   18.2   49.4   2.4   68.5   7.0  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.11   2,219   2.6   6   28.7   27.9   1,754   90.8   21.1  
36.   Other 2.55   54,071   3.1   22   19.5   49.5   9,671   70.7   7.5   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, NOVEMBER 3-7, 2008                                 For immediate release
6. Commercial and industrial loans by date pricing terms were set and commitment status         December 17, 2008
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   50,482   1,255   2.9   72   23.1   38.6   9.7  
 2.   Not under commitment 1.99   21,571   1,144   3.0   47   24.4   57.3   9.1  
 3.   Informal commitment 2.62   21,053   1,566   2.7   34   7.7   30.3   4.0  
 4.   Formal commitment 4.04   7,858   991   2.9   246   61.0   9.3   26.5  
    Before survey week9
 5.   Up to 90 days 4.32   8,675   349   3.2   123   52.5   17.3   44.4  
 6.   91 to 365 days 4.46   17,437   358   3.0   109   46.5   26.3   33.3  
 6.   More than 365 days 3.65   29,718   1,108   3.2   101   45.5   29.5   28.3  
 
Domestic banks
 8. During survey week 4.09   11,997   325   2.8   238   57.9   9.7   36.9  
 9.   Not under commitment 3.95   5,504   309   2.5   167   43.0   9.4   32.1  
10.   Informal commitment 4.80   1,674   146   2.9   215   84.6   12.2   45.6  
11.   Formal commitment 3.99   4,819   632   3.1   326   65.7   9.1   39.2  
    Before survey week9
12.   Up to 90 days 4.48   6,214   252   3.3   161   59.6   13.5   61.1  
13.   91 to 365 days 4.64   13,316   277   3.0   136   49.5   10.9   41.0  
14.   More than 365 days 3.68   18,495   764   3.2   147   51.1   19.0   38.1  
 
Large domestic banks
15. During survey week 3.63   9,208   721   2.7   173   49.2   9.8   32.0  
16.   Not under commitment 3.42   4,439   535   2.4   77   34.4   9.7   27.0  
17.   Informal commitment 4.14   871   348   3.0   105   80.4   13.8   41.4  
18.   Formal commitment 3.75   3,898   1,973   3.1   298   59.1   9.0   35.6  
    Before survey week9
19.   Up to 90 days 4.32   5,144   323   3.2   129   54.1   15.7   61.1  
20.   91 to 365 days 4.64   12,035   391   3.0   136   45.8   11.8   38.2  
21.   More than 365 days 3.65   17,967   1,017   3.1   149   50.2   19.4   37.6  
 
Small domestic banks
22. During survey week 5.60   2,788   116   3.0   451   86.7   9.2   53.0  
23.   Not under commitment 6.16   1,065   112   3.0   543   79.0   8.2   53.7  
24.   Informal commitment 5.52   803   90   2.9   335   89.1   10.4   50.1  
25.   Formal commitment 5.02   920   163   3.2   446   93.5   9.4   54.7  
    Before survey week9
26.   Up to 90 days 5.29   1,070   123   3.3   317   85.7   3.1   61.2  
27.   91 to 365 days 4.65   1,282   74   3.0   140   84.2   2.3   67.9  
28.   More than 365 days 4.71   528   81   3.4   66   81.5   6.6   58.2  
 
Foreign banks
29. During survey week 2.10   38,485   11,424   3.0   21   12.2   47.6   1.2  
30.   Not under commitment 1.31   16,067   15,067   3.2   5   18.0   73.8   1.3  
31.   Informal commitment 2.43   19,379   9,721   2.6   18   1.0   31.8   .4  
32.   Formal commitment 4.12   3,040   9,836   2.7   121   53.5   9.6   6.3  
    Before survey week9
33.   Up to 90 days 3.91   2,461   9,663   3.1   27   34.7   26.8   2.2  
34.   91 to 365 days 3.88   4,121   6,817   3.1   21   37.0   76.2   8.4  
35.   More than 365 days 3.60   11,223   4,270   3.1   24   36.4   46.9   12.0   
...  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 4.05   4.06   4.01   4.30   3.97  
Standard error of loan rate4 .18   .25   .28   .16   .47  

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 17, 2008