Board of Governors of the Federal Reserve System

Survey of Terms of Business Lending - E.2

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Release Date: March 30, 2012

E.2 Survey of Terms of Business Lending
FEBRUARY 6-10, 2012

1. Commercial and industrial loans made by all commercial banks 1
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 2.59   65,829   508   492   47.8   43.3   23.9   74.1   9.9  
2. Minimal risk 1.08   3,994   1,695   120   13.0   63.8   9.1   64.0   2.1  
3. Low risk 1.92   11,223   647   433   37.5   37.6   17.4   85.6   8.8  
4. Moderate risk 2.70   26,062   416   629   46.8   33.7   29.3   78.2   10.4  
5. Other 3.37   18,048   465   492   70.1   42.1   26.4   73.4   11.3  
 
6. Zero interval 3.54   17,956   294   797   67.9   22.0   58.2   95.9   10.7  
7. Minimal risk 2.33   448   600   462   53.3   9.6   60.8   87.3   10.1  
8. Low risk 2.94   1,921   333   782   77.7   8.4   52.0   89.9   10.8  
9. Moderate risk 3.28   8,732   310   850   61.4   23.8   53.2   97.8   11.6  
10. Other 4.10   6,300   275   760   73.1   22.8   64.5   96.2   9.6  
 
11. Daily 1.07   17,359   2,282   57   27.1   78.4   4.9   31.9   6.3  
12. Minimal risk .61   2,467   7,012   7   3.0   86.7   1.6   45.6   .2  
13. Low risk 1.16   3,161   2,085   30   9.7   58.6   4.0   78.5   5.3  
14. Moderate risk 1.47   4,521   1,266   189   8.9   62.4   12.1   29.5   12.4  
15. Other .93   4,097   2,252   11   94.7   90.2   3.5   10.1   8.2  
 
16. 2 to 30 days 2.71   20,874   501   398   39.9   37.1   16.8   83.5   8.1  
17. Minimal risk .98   574   4,091   175   15.1   60.4   3.9   98.6   1.9  
18. Low risk 1.83   4,528   616   401   32.8   40.0   14.4   87.1   8.8  
19. Moderate risk 2.44   9,319   423   502   46.3   31.1   22.0   80.9   8.3  
20. Other 4.38   4,851   508   278   38.5   31.4   8.4   87.4   6.6  
 
21. 31 to 365 days 2.88   6,104   713   721   54.6   37.8   5.9   89.7   17.9  
22. Minimal risk 2.26   446   644   219   13.3   1.3   5.3   96.0   .2  
23. Low risk 2.06   1,206   840   800   50.2   30.2   4.5   89.1   15.4  
24. Moderate risk 3.12   2,060   549   751   49.9   39.1   6.6   82.0   13.0  
25. Other 3.25   1,926   1,056   832   77.1   44.3   4.2   95.2   29.2  
  Months  
26. More than 365 days 3.98   3,359   355   43   80.7   26.4   15.2   88.8   8.4  
27. Minimal risk 3.07   54   139   36   99.5   25.9   8.9   79.3   .8  
28. Low risk 3.67   373   299   44   77.3   6.1   31.2   91.6   4.0  
29. Moderate risk 4.07   1,386   297   41   76.3   12.3   18.2   90.3   9.8  
30. Other 4.33   781   383   45   92.5   11.7   5.8   78.1   9.6  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 4.29   3,054   3.2   110   89.3   9.1   65.7   68.7   8.0  
32. 100 - 999 3.78   10,987   3.2   101   77.8   18.3   56.4   83.7   10.3  
33. 1,000 - 9,999 2.80   18,722   3.1   94   51.2   33.9   27.6   89.6   11.3  
34. 10,000+ 1.91   33,066   2.9   66   32.0   60.1   7.1   62.7   8.8  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.12   15,738   3.2   50   66.6   10.8   199   83.9   9.9  
36. Other 2.10   50,091   3.0   92   41.8   53.5   995   71.1   9.9  
... The number of loans was insufficient to provide a meaningful value.
2. Commercial and industrial loans made by domestic banks 1
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 3.47   38,724   309   705   62.1   22.8   36.8   88.6   10.2  
2. Minimal risk 1.93   1,087   520   290   36.8   7.4   33.4   68.2   6.8  
3. Low risk 2.60   6,239   373   518   58.2   11.1   28.9   85.8   12.6  
4. Moderate risk 3.20   18,533   302   791   60.0   25.7   37.0   87.4   10.8  
5. Other 4.50   10,884   290   692   67.6   18.7   39.9   93.1   8.7  
 
6. Zero interval 3.51   17,074   285   782   67.8   22.7   57.8   95.8   10.6  
7. Minimal risk 2.18   402   566   329   53.4   10.7   67.8   85.8   10.5  
8. Low risk 2.99   1,764   318   813   79.3   9.1   54.6   89.0   11.6  
9. Moderate risk 3.24   8,427   303   831   61.6   24.0   51.9   97.9   11.4  
10. Other 4.07   5,925   264   744   72.2   23.9   64.0   96.0   9.3  
 
11. Daily 2.66   2,778   394   410   27.5   32.4   30.8   81.5   12.9  
12. Minimal risk 1.30   315   994   49   19.6   .1   12.5   20.3   3.9  
13. Low risk 2.23   779   540   127   33.8   16.2   16.4   96.8   17.4  
14. Moderate risk 2.85   1,419   414   696   20.9   52.8   38.5   83.9   12.0  
15. Other 4.59   259   147   173   52.9   9.1   54.5   95.7   6.5  
 
16. 2 to 30 days 3.57   11,879   296   431   58.4   20.6   23.8   80.3   8.7  
17. Minimal risk 1.45   87   1,430   268   7.7   19.8   25.7   90.6   12.6  
18. Low risk 2.35   2,596   365   358   50.6   12.0   21.7   77.5   13.4  
19. Moderate risk 2.98   5,629   263   587   65.8   23.1   27.6   74.8   8.7  
20. Other 5.88   2,870   314   224   49.5   11.7   10.7   89.3   4.9  
 
21. 31 to 365 days 3.13   3,745   468   741   55.3   23.9   6.6   87.7   12.8  
22. Minimal risk 2.21   225   388   327   26.4   2.5   10.6   92.1   .4  
23. Low risk 2.45   699   509   299   48.7   9.8   5.1   92.1   11.7  
24. Moderate risk 3.29   1,633   453   789   51.1   31.9   7.4   78.2   13.7  
25. Other 3.33   989   590   1,137   73.6   17.8   3.7   97.8   15.9  
  Months  
26. More than 365 days 4.07   3,104   334   43   82.7   23.1   13.4   87.9   8.1  
27. Minimal risk 3.07   54   139   36   99.5   25.9   8.9   79.3   .8  
28. Low risk 3.67   372   300   44   77.4   5.9   31.1   91.6   4.0  
29. Moderate risk 4.07   1,386   297   41   76.3   12.2   18.2   90.3   9.8  
30. Other 4.31   769   380   45   93.6   10.7   4.7   77.8   9.5  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 4.30   3,029   3.2   110   89.5   9.1   66.0   68.5   8.0  
32. 100 - 999 3.83   10,349   3.2   101   80.1   17.6   57.7   83.1   10.2  
33. 1,000 - 9,999 3.10   13,094   3.1   107   61.5   26.8   33.6   94.8   11.8  
34. 10,000+ 3.38   12,252   3.0   153   40.8   26.5   15.4   91.4   8.8  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.23   14,255   3.2   46   70.4   11.1   182   82.5   10.0  
36. Other 3.04   24,469   3.1   164   57.3   29.7   518   92.1   10.3  
... The number of loans was insufficient to provide a meaningful value.
3. Commercial and industrial loans made by large domestic banks 1
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 3.34   35,078   388   705   59.5   24.5   34.7   89.0   10.6  
2. Minimal risk 1.69   990   1,095   255   31.0   6.6   34.4   67.4   7.3  
3. Low risk 2.49   5,823   434   517   56.0   11.5   28.0   85.4   13.2  
4. Moderate risk 3.03   16,737   379   796   57.2   27.8   35.0   87.2   11.3  
5. Other 4.45   9,670   370   684   65.2   20.2   36.0   95.3   8.9  
 
6. Zero interval 3.39   15,375   349   811   66.3   24.8   55.0   96.6   10.8  
7. Minimal risk 2.14   392   656   330   52.4   11.0   68.7   85.6   10.7  
8. Low risk 2.93   1,664   352   844   78.9   9.7   52.7   88.4   12.0  
9. Moderate risk 3.10   7,621   376   860   59.7   26.2   49.0   98.4   11.6  
10. Other 3.96   5,224   331   768   70.9   26.5   59.8   98.2   9.4  
 
11. Daily 2.36   2,413   787   427   17.7   36.6   23.3   79.1   14.0  
12. Minimal risk 1.22   306   1,553   41   17.1   .1   10.9   17.8   4.4  
13. Low risk 1.97   684   713   93   25.1   16.0   11.5   96.4   18.8  
14. Moderate risk 2.65   1,266   804   745   12.5   59.2   32.7   82.1   12.8  
15. Other 4.00   153   498   104   25.4   15.5   23.8   99.5   5.2  
 
16. 2 to 30 days 3.55   11,563   306   440   57.7   21.1   22.9   79.9   8.8  
17. Minimal risk 1.43   87   1,725   264   7.2   19.9   25.3   90.6   12.6  
18. Low risk 2.32   2,563   377   360   50.6   12.1   21.4   77.4   13.6  
19. Moderate risk 2.94   5,401   268   612   64.9   24.0   26.5   73.7   9.0  
20. Other 5.90   2,818   331   226   48.6   11.9   9.5   89.2   4.9  
 
21. 31 to 365 days 2.88   3,363   1,043   763   51.2   26.1   4.4   88.8   13.7  
22. Minimal risk 1.65   180   4,820   289   9.7   2.6   6.5   97.1   .2  
23. Low risk 2.31   640   952   310   44.6   10.7   2.8   94.3   11.9  
24. Moderate risk 3.02   1,461   1,049   795   46.9   35.7   4.8   78.1   15.2  
25. Other 3.06   898   1,019   1,202   71.4   17.8   2.7   99.2   16.9  
  Months  
26. More than 365 days 3.73   2,282   1,160   41   78.3   25.0   15.1   94.9   9.9  
27. Minimal risk 1.49   26   1,441   35   100.0   .9   16.1   92.0   .5  
28. Low risk 3.24   242   1,073   50   67.4   6.9   44.7   92.5   6.0  
29. Moderate risk 3.57   960   1,318   36   67.3   8.3   20.9   95.9   12.8  
30. Other 4.06   553   1,086   40   95.2   8.5   4.7   92.4   11.0  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 3.97   2,152   3.2   29   89.2   12.0   66.2   63.7   8.4  
32. 100 - 999 3.62   8,409   3.2   59   78.8   20.8   57.6   82.6   11.3  
33. 1,000 - 9,999 3.02   12,300   3.1   80   59.9   27.2   32.9   95.4   12.2  
34. 10,000+ 3.37   12,217   3.0   154   40.6   26.5   15.2   91.4   8.9  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.13   12,170   3.2   43   68.3   12.3   218   81.8   10.5  
36. Other 2.93   22,907   3.1   127   54.8   31.0   661   92.8   10.7  
... The number of loans was insufficient to provide a meaningful value.
4. Commercial and industrial loans made by small domestic banks 1
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 4.73   3,647   104   704   87.2   6.7   57.2   84.5   5.8  
2. Minimal risk 4.34   97   82   666   96.2   15.1   23.8   77.0   2.0  
3. Low risk 4.22   416   126   526   90.3   5.5   41.7   91.2   4.3  
4. Moderate risk 4.71   1,796   105   738   86.0   6.7   55.8   89.5   5.8  
5. Other 4.93   1,214   106   758   86.4   6.9   70.7   75.3   6.9  
 
6. Zero interval 4.65   1,698   107   476   81.7   3.5   82.9   88.4   8.3  
7. Minimal risk 3.58   10   89   320   93.8   .0   34.9   93.1   3.3  
8. Low risk 3.99   100   123   282   86.6   .1   85.3   99.7   5.4  
9. Moderate risk 4.56   806   107   447   79.4   3.3   78.5   93.4   9.1  
10. Other 4.87   701   106   560   81.7   4.6   95.8   79.7   8.3  
 
11. Daily 4.66   365   92   316   92.6   4.7   80.3   96.7   6.9  
12. Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
13. Low risk 4.10   94   196   321   96.7   18.3   51.6   100.0   7.6  
14. Moderate risk 4.51   153   83   352   90.2   .0   85.9   99.0   5.8  
15. Other 5.43   107   73   256   92.1   .0   98.5   90.3   8.5  
 
16. 2 to 30 days 4.19   316   140   165   86.1   1.5   57.9   95.7   4.0  
17. Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
18. Low risk 4.78   33   110   182   55.6   .0   44.1   85.9   3.8  
19. Moderate risk 3.84   228   178   168   88.6   1.9   54.5   98.8   3.7  
20. Other 5.17   52   83   136   98.0   .7   79.1   94.1   5.5  
 
21. 31 to 365 days 5.32   382   80   545   91.1   4.4   25.6   78.4   2.8  
22. Minimal risk 4.43   45   83   484   93.7   2.1   27.0   72.0   1.3  
23. Low risk 3.94   59   84   172   92.7   .0   30.0   68.5   6.5  
24. Moderate risk 5.62   172   78   738   87.2   .0   28.6   79.2   1.6  
25. Other 6.01   91   114   493   95.0   17.4   13.2   83.8   4.3  
  Months  
26. More than 365 days 5.01   821   112   49   94.8   17.8   8.8   68.3   1.0  
27. Minimal risk 4.52   28   76   37   99.1   48.9   2.2   67.7   1.3  
28. Low risk 4.47   130   128   34   96.0   4.2   5.9   89.9   .2  
29. Moderate risk 5.22   425   108   50   96.6   21.2   12.1   77.6   1.3  
30. Other 4.93   216   143   59   89.3   16.4   4.7   40.4   .6  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 5.12   877   3.2   314   90.3   1.8   65.4   80.2   7.2  
32. 100 - 999 4.74   1,940   3.2   284   85.6   3.7   58.2   85.7   5.5  
33. 1,000 - 9,999 4.30   794   3.2   533   87.0   19.6   43.7   85.7   5.2  
34. 10,000+ ...   ...   ...   ...   ...   ...   ...   ...   ...  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.83   2,084   3.4   63   82.9   3.7   93   86.6   7.4  
36. Other 4.59   1,562   3.0   715   92.9   10.8   124   81.7   3.5  
... The number of loans was insufficient to provide a meaningful value.
5. Commercial and industrial loans made by U.S. branches and agencies of foreign banks 1
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 1.31   27,105   6,595   226   27.2   72.6   5.5   53.5   9.2  
2. Minimal risk .76   2,907   11,002   61   4.0   84.9   .0   62.4   .2  
3. Low risk 1.06   4,984   7,905   345   11.6   70.8   3.0   85.3   4.1  
4. Moderate risk 1.46   7,528   5,847   291   14.5   53.2   10.5   55.5   9.0  
5. Other 1.65   7,164   5,681   216   73.9   77.6   5.9   43.4   19.6  
 
6. Zero interval 4.12   882   772   1,062   70.1   7.7   65.7   97.6   12.6  
7. Minimal risk 3.65   46   1,237   1,555   52.3   .0   .0   100.0   7.3  
8. Low risk 2.36   157   683   493   60.1   .0   23.1   100.0   3.1  
9. Moderate risk 4.48   305   905   1,342   57.7   16.7   90.5   94.6   17.2  
10. Other 4.63   375   694   1,003   86.7   4.6   71.5   98.8   13.7  
 
11. Daily .76   14,581   26,499   3   27.0   87.2   .0   22.5   1.7  
12. Minimal risk .51   2,152   61,363   1   .6   99.4   .0   49.3   .0  
13. Low risk .81   2,383   31,846   5   1.8   72.5   .0   72.5   .0  
14. Moderate risk .84   3,102   21,287   6   3.4   66.8   .0   4.6   16.5  
15. Other .69   3,838   71,368   2   97.5   95.7   .0   4.3   10.8  
 
16. 2 to 30 days 1.57   8,995   5,742   364   15.5   59.0   7.6   87.7   7.4  
17. Minimal risk .90   487   6,128   158   16.5   67.7   .0   100.0   .2  
18. Low risk 1.14   1,932   7,652   449   8.9   77.7   4.5   100.0   4.0  
19. Moderate risk 1.62   3,690   5,752   411   16.6   43.2   13.4   90.2   7.7  
20. Other 2.20   1,981   4,715   343   22.5   60.0   5.0   84.6   9.4  
 
21. 31 to 365 days 2.50   2,359   4,181   690   53.4   59.8   4.9   93.0   25.5  
22. Minimal risk 2.32   221   1,972   111   .0   .0   .0   100.0   .0  
23. Low risk 1.54   507   8,125   1,478   52.4   58.4   3.6   84.9   20.8  
24. Moderate risk 2.44   427   2,809   608   45.0   66.7   3.5   96.5   10.7  
25. Other 3.17   938   6,399   515   80.9   72.2   4.7   92.4   44.0  
  Months  
26. More than 365 days 2.86   255   1,401   49   56.8   66.4   36.2   100.0   11.9  
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. 7.5 - 99 3.38   25   3.3   96   59.5   8.1   34.1   95.8   7.0  
32. 100 - 999 3.03   638   3.0   90   41.4   29.6   36.0   92.8   12.7  
33. 1,000 - 9,999 2.11   5,628   3.1   64   27.4   50.6   13.8   77.5   9.8  
34. 10,000+ 1.04   20,814   2.8   14   26.7   80.0   2.3   45.8   8.7  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 3.03   1,483   3.2   91   29.7   8.1   1,496   96.6   8.8  
36. Other 1.21   25,622   2.9   23   27.1   76.3   8,217   51.0   9.3  
... The number of loans was insufficient to provide a meaningful value.
6. Commercial and industrial loans by date pricing terms were set and commitment status
Date pricing terms were set
and commitment status		 Weighted-
average
effective
loan rate4
(percent)		 Amount of
loans
($ millions)		 Average
loan size
($ thousands)		 Weighted-
average risk
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 2.01   30,061   679   2.9   59   36.3   58.3   14.1  
2. Not under commitment 1.53   17,020   529   3.0   35   41.0   66.8   14.9  
3. Informal commitment 1.20   6,279   1,229   2.2   66   14.6   85.8   5.9  
4. Formal commitment 3.98   6,762   966   3.1   114   44.8   11.1   19.6  
  Before survey week9  
5. Up to 90 days 2.86   7,996   444   3.1   94   44.8   33.4   36.6  
6. 91 to 365 days 3.08   14,922   307   3.1   99   59.9   31.7   32.0  
7. More than 365 days 3.18   12,828   696   3.3   105   62.1   28.1   29.6  
 
Domestic banks
8. During survey week 4.15   10,372   245   3.1   158   63.0   10.9   37.4  
9. Not under commitment 3.62   4,426   140   2.8   124   69.6   14.5   56.3  
10. Informal commitment 3.84   897   193   2.9   409   95.8   6.4   38.1  
11. Formal commitment 4.66   5,048   830   3.3   143   51.4   8.5   20.7  
  Before survey week9  
12. Up to 90 days 3.32   5,742   327   3.2   123   60.7   41.5   41.8  
13. 91 to 365 days 3.14   12,832   269   3.1   96   64.4   26.9   35.2  
14. More than 365 days 3.29   9,756   556   3.1   110   58.9   19.1   35.4  
 
Large domestic banks
15. During survey week 4.00   8,867   313   3.0   96   58.9   11.6   36.0  
16. Not under commitment 3.39   3,861   152   2.7   53   67.8   15.4   57.3  
17. Informal commitment 3.13   496   378   3.1   427   98.6   8.2   36.4  
18. Formal commitment 4.61   4,510   2,647   3.3   96   46.8   8.7   17.8  
  Before survey week9  
19. Up to 90 days 3.17   5,170   401   3.2   87   57.3   45.6   40.3  
20. 91 to 365 days 3.01   11,606   334   3.1   91   62.3   29.0   31.9  
21. More than 365 days 3.24   9,435   654   3.1   114   57.9   19.5   33.8  
 
Small domestic banks
22. During survey week 5.03   1,505   108   3.1   522   87.7   6.9   45.6  
23. Not under commitment 5.20   566   91   3.5   605   82.1   8.9   49.5  
24. Informal commitment 4.72   402   120   2.7   386   92.3   4.2   40.3  
25. Formal commitment 5.09   538   123   3.0   538   90.3   6.8   45.3  
  Before survey week9  
26. Up to 90 days 4.65   571   122   3.3   465   91.0   4.2   55.9  
27. 91 to 365 days 4.40   1,227   94   3.3   144   84.1   7.7   66.1  
28. More than 365 days 4.71   321   103   3.4   12   88.9   6.8   81.6  
 
Foreign banks
29. During survey week .89   19,689   9,899   2.8   7   22.2   83.2   1.8  
30. Not under commitment .79   12,594   20,904   3.1   4   30.9   85.2   .4  
31. Informal commitment .76   5,382   11,625   2.1   9   1.1   99.1   .5  
32. Formal commitment 1.98   1,714   1,856   2.7   26   25.1   18.8   16.2  
  Before survey week9  
33. Up to 90 days 1.70   2,254   4,995   2.9   22   4.5   12.6   23.4  
34. 91 to 365 days 2.69   2,090   2,684   2.9   120   32.7   61.2   12.3  
35. More than 365 days 2.85   3,072   3,448   3.7   89   72.2   56.4   11.2  
... 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 3.38   3.40   3.38   3.50   3.19  
Standard error of loan rate4 .26   .16   .18   .08   .35  

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.

Footnotes

1. As of December 31, 2011, assets of the large banks were at least $4.4 billion. Median total assets for all insured banks were roughly $151 million. Assets at all U.S. branches and agencies averaged $8.8 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.

Last update: March 30, 2012