Board of Governors of the Federal Reserve System

Survey of Terms of Business Lending - E.2

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Release Date: June 28, 2012

E.2 Survey of Terms of Business Lending
MAY 7-11, 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 2.21   84,147   623   520   34.8   51.3   20.5   71.5   9.2  
2. Minimal risk 1.32   5,092   1,851   294   12.5   74.2   5.8   41.5   7.0  
3. Low risk 1.69   17,648   1,132   478   18.7   54.1   10.5   90.2   10.0  
4. Moderate risk 2.61   29,916   441   646   38.2   37.7   25.7   80.2   9.4  
5. Other 2.64   20,710   510   557   55.9   48.1   29.1   62.0   9.7  
 
6. Zero interval 3.48   21,124   350   826   63.0   26.3   57.3   97.0   11.8  
7. Minimal risk 2.13   751   1,070   838   41.9   46.0   26.2   96.0   12.8  
8. Low risk 3.03   1,991   361   718   66.0   10.9   55.6   89.7   9.5  
9. Moderate risk 3.20   9,791   352   796   52.0   30.1   52.2   98.1   12.8  
10. Other 3.99   7,895   347   882   75.3   21.8   64.1   97.8   11.3  
 
11. Daily 1.13   25,581   3,352   156   12.9   72.3   3.4   45.3   7.8  
12. Minimal risk .87   3,257   5,945   9   2.1   95.3   1.4   11.5   .7  
13. Low risk 1.30   9,330   6,422   248   2.9   64.6   1.9   89.7   8.5  
14. Moderate risk 1.36   5,319   1,545   275   13.1   51.9   9.1   33.7   8.0  
15. Other 1.15   2,934   1,517   74   76.8   63.9   5.9   29.8   4.0  
 
16. 2 to 30 days 1.75   20,215   442   380   31.4   54.8   13.5   59.7   5.5  
17. Minimal risk 1.65   234   2,041   453   9.9   20.8   .1   100.0   3.0  
18. Low risk 1.84   2,811   525   739   27.1   49.3   12.3   86.9   4.6  
19. Moderate risk 2.12   7,030   265   514   45.2   23.9   19.6   77.8   6.5  
20. Other 1.50   7,499   671   235   23.8   74.2   6.8   28.2   5.6  
 
21. 31 to 365 days 2.57   13,807   1,131   643   27.7   48.9   6.3   93.0   10.5  
22. Minimal risk 1.97   735   766   470   15.8   37.7   3.3   92.2   6.5  
23. Low risk 1.60   3,193   1,401   773   21.9   59.6   4.8   94.7   18.5  
24. Moderate risk 3.07   6,766   1,199   688   27.0   55.4   6.9   92.5   7.5  
25. Other 3.11   1,621   742   466   58.1   34.1   6.5   90.4   12.2  
  Months  
26. More than 365 days 3.74   3,357   404   58   73.6   37.6   18.5   91.7   6.3  
27. Minimal risk 4.06   113   293   120   96.1   1.6   23.5   90.8   2.6  
28. Low risk 4.61   316   330   32   78.9   5.9   19.3   92.4   9.2  
29. Moderate risk 3.78   983   246   54   62.1   12.9   24.7   87.1   6.4  
30. Other 4.48   732   375   78   84.1   35.0   19.1   86.3   5.5  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 4.19   3,204   3.2   103   89.6   9.0   64.4   69.2   8.1  
32. 100 - 999 3.77   11,028   3.2   106   77.4   19.1   58.4   82.6   10.9  
33. 1,000 - 9,999 2.93   19,330   3.2   134   54.8   32.0   30.6   92.4   10.2  
34. 10,000+ 1.47   50,585   2.8   70   14.5   68.3   5.6   61.2   8.2  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.36   17,261   3.3   53   72.4   7.9   211   84.9   10.2  
36. Other 1.66   66,885   2.8   101   25.2   62.5   1,253   68.0   8.9  
... 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 2.94   49,723   379   738   48.0   39.2   32.3   81.9   11.0  
2. Minimal risk 2.61   1,341   535   919   43.6   27.7   22.0   89.9   8.0  
3. Low risk 2.28   10,078   672   637   29.1   33.6   17.1   87.0   15.9  
4. Moderate risk 3.22   20,740   312   821   48.6   35.3   35.2   90.0   9.8  
5. Other 2.93   15,129   386   661   54.8   46.7   37.0   64.5   10.4  
 
6. Zero interval 3.42   19,869   334   794   62.9   27.7   56.3   96.8   11.9  
7. Minimal risk 1.97   685   1,028   776   45.5   50.4   28.7   95.6   12.9  
8. Low risk 3.04   1,768   333   681   69.8   12.3   55.7   88.4   10.3  
9. Moderate risk 3.15   9,392   341   768   51.3   31.2   50.4   98.0   12.8  
10. Other 3.90   7,328   327   843   74.7   23.2   63.3   97.7   11.3  
 
11. Daily 2.37   6,621   939   606   16.0   35.9   13.2   87.2   15.0  
12. Minimal risk 6.88   132   255   255   45.8   .0   34.1   44.0   4.3  
13. Low risk 2.01   4,578   3,328   513   5.9   37.0   3.8   87.7   17.7  
14. Moderate risk 2.78   1,578   479   960   29.9   41.3   30.4   87.6   9.6  
15. Other 3.54   331   182   529   78.0   9.3   52.1   95.3   6.3  
 
16. 2 to 30 days 2.17   12,203   274   461   46.1   54.6   22.2   44.7   7.7  
17. Minimal risk 1.30   82   1,341   144   28.4   20.0   .2   100.0   3.9  
18. Low risk 2.31   1,700   327   982   40.6   35.6   20.4   79.1   6.6  
19. Moderate risk 3.08   3,779   145   732   78.7   20.2   36.1   65.5   7.5  
20. Other 1.45   6,042   567   220   22.7   79.6   8.5   16.4   10.1  
 
21. 31 to 365 days 3.02   8,150   735   668   30.6   50.2   9.7   93.9   9.9  
22. Minimal risk 2.04   326   393   423   23.9   2.4   7.4   94.1   1.4  
23. Low risk 1.78   1,715   806   583   28.2   49.6   8.8   90.2   26.0  
24. Moderate risk 3.47   4,981   940   757   24.0   57.4   9.2   94.7   5.9  
25. Other 3.54   672   372   524   81.6   39.7   15.8   94.5   8.8  
  Months  
26. More than 365 days 3.92   2,822   347   60   76.6   31.2   16.8   90.1   5.8  
27. Minimal risk 4.06   113   293   120   96.1   1.6   23.5   90.8   2.6  
28. Low risk 4.61   316   330   32   78.9   5.9   19.3   92.4   9.2  
29. Moderate risk 3.78   983   246   54   62.1   12.9   24.7   87.1   6.4  
30. Other 4.48   726   375   79   84.0   35.2   19.2   86.2   5.3  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 4.18   3,176   3.2   103   89.8   9.0   64.7   69.0   8.1  
32. 100 - 999 3.78   10,514   3.2   105   79.2   18.5   59.9   82.2   11.0  
33. 1,000 - 9,999 3.27   13,694   3.1   149   63.6   27.1   39.6   95.8   10.7  
34. 10,000+ 2.16   22,338   3.0   130   17.9   60.7   10.3   75.1   11.7  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.35   16,080   3.3   43   73.8   8.0   198   83.8   10.2  
36. Other 2.27   33,642   3.0   169   35.7   54.2   671   80.9   11.4  
... 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 2.76   44,704   466   704   43.4   43.0   29.2   81.1   11.8  
2. Minimal risk 2.30   1,166   1,282   633   35.3   31.7   21.5   91.2   9.0  
3. Low risk 2.13   9,538   800   647   25.6   35.3   15.1   87.0   16.6  
4. Moderate risk 3.07   18,567   369   820   44.1   38.9   32.4   90.3   10.3  
5. Other 2.71   13,209   496   562   49.9   52.2   32.1   60.4   11.9  
 
6. Zero interval 3.31   17,729   395   798   60.5   30.7   52.1   97.0   12.7  
7. Minimal risk 1.96   682   1,160   778   45.3   50.7   28.4   95.6   12.9  
8. Low risk 2.96   1,646   343   716   70.1   13.2   52.6   87.6   10.7  
9. Moderate risk 3.02   8,573   400   769   48.3   33.7   46.9   98.4   13.3  
10. Other 3.84   6,206   410   842   73.2   26.8   57.2   97.9   12.6  
 
11. Daily 2.19   6,043   1,983   605   9.7   39.2   7.2   87.4   15.8  
12. Minimal risk 7.17   112   604   148   36.2   .0   22.3   36.5   4.2  
13. Low risk 1.97   4,502   4,470   516   4.3   37.6   2.4   87.5   17.9  
14. Moderate risk 2.51   1,220   824   1,039   15.9   52.8   20.0   90.1   11.0  
15. Other 2.44   208   609   643   74.8   14.3   25.7   96.2   2.9  
 
16. 2 to 30 days 2.13   11,906   280   470   44.9   55.9   21.9   43.5   8.0  
17. Minimal risk 1.27   80   2,873   147   26.7   20.5   .0   100.0   3.9  
18. Low risk 2.29   1,685   329   986   40.1   35.3   20.1   78.9   6.7  
19. Moderate risk 3.07   3,582   143   790   77.7   21.3   37.0   63.8   8.0  
20. Other 1.41   5,981   597   221   22.0   80.4   7.9   15.6   10.3  
 
21. 31 to 365 days 2.78   7,227   2,039   704   22.5   56.5   5.8   95.3   10.5  
22. Minimal risk 1.38   261   3,552   384   5.3   3.0   3.2   100.0   1.4  
23. Low risk 1.41   1,548   2,095   588   21.0   54.4   4.6   92.9   27.8  
24. Moderate risk 3.31   4,531   2,676   795   17.3   63.1   4.8   95.5   5.8  
25. Other 3.33   532   718   590   77.2   49.9   13.6   97.2   10.3  
  Months  
26. More than 365 days 3.29   1,792   941   46   63.7   37.5   20.7   94.7   8.3  
27. Minimal risk 2.76   31   962   31   86.1   1.8   73.5   99.4   8.5  
28. Low risk 3.25   156   602   46   57.5   10.4   33.5   93.9   17.8  
29. Moderate risk 3.03   656   932   46   43.5   9.2   30.6   93.1   8.5  
30. Other 4.36   281   741   37   60.9   43.0   33.5   88.9   12.6  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 3.79   2,315   3.2   30   89.9   11.4   63.1   65.4   8.4  
32. 100 - 999 3.56   8,705   3.2   61   77.7   21.1   58.7   81.4   12.1  
33. 1,000 - 9,999 3.14   12,012   3.2   84   60.3   30.3   38.9   96.1   11.7  
34. 10,000+ 2.11   21,672   3.0   94   15.4   62.1   8.3   74.3   12.2  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.28   13,054   3.3   35   70.8   9.3   227   82.4   11.2  
36. Other 2.13   31,650   3.0   101   32.2   56.9   824   80.5   12.1  
... 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 4.55   5,019   142   1,022   89.0   6.2   60.3   89.1   4.3  
2. Minimal risk 4.66   175   110   2,518   98.6   .7   25.1   81.4   1.1  
3. Low risk 5.06   540   175   470   90.6   4.1   52.7   86.3   3.7  
4. Moderate risk 4.49   2,173   134   830   87.3   5.2   59.4   87.3   5.4  
5. Other 4.44   1,919   152   1,328   88.4   8.9   70.6   92.6   3.8  
 
6. Zero interval 4.36   2,140   146   763   82.6   3.3   91.1   95.6   5.3  
7. Minimal risk 4.41   4   47   318   89.3   .0   81.5   93.1   4.4  
8. Low risk 4.22   122   234   297   65.6   .0   98.3   99.6   4.9  
9. Moderate risk 4.48   819   134   765   82.8   4.6   86.7   93.8   7.3  
10. Other 4.27   1,122   154   846   83.2   2.9   97.3   96.3   3.9  
 
11. Daily 4.23   578   144   613   82.5   1.6   76.5   85.2   7.1  
12. Minimal risk 5.27   20   61   686   99.6   .0   100.0   85.7   4.5  
13. Low risk 4.36   76   206   335   100.0   1.2   87.0   100.0   11.8  
14. Moderate risk 3.74   358   198   745   77.5   2.0   65.9   79.0   4.0  
15. Other 5.40   123   83   345   83.6   1.0   96.6   93.8   12.0  
 
16. 2 to 30 days 3.87   297   150   145   95.4   4.6   36.2   92.7   2.8  
17. Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
18. Low risk 4.55   15   185   495   97.4   73.5   56.2   100.0   .2  
19. Moderate risk 3.37   197   182   77   96.4   1.3   19.4   95.4   1.4  
20. Other 5.08   61   97   172   90.8   .3   64.0   95.8   8.0  
 
21. 31 to 365 days 4.95   923   122   390   94.5   1.0   40.9   82.4   3.9  
22. Minimal risk 4.67   66   87   490   97.2   .0   24.1   70.9   .9  
23. Low risk 5.21   167   120   540   94.9   4.6   48.3   64.6   1.3  
24. Moderate risk 5.08   450   125   368   91.7   .0   54.0   86.8   7.7  
25. Other 4.35   140   131   278   98.3   .7   24.3   84.5   2.1  
  Months  
26. More than 365 days 5.02   1,030   165   83   99.1   20.2   10.0   82.1   .5  
27. Minimal risk 4.55   82   232   154   99.9   1.5   4.7   87.6   .1  
28. Low risk 5.93   160   229   19   99.9   1.4   5.4   90.9   .4  
29. Moderate risk 5.30   327   99   70   99.3   20.3   12.8   75.1   .9  
30. Other 4.56   445   286   105   98.6   30.2   10.2   84.5   .5  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 5.23   861   3.2   306   89.4   2.3   69.2   78.5   7.5  
32. 100 - 999 4.84   1,809   3.3   320   86.3   6.0   65.5   86.1   6.0  
33. 1,000 - 9,999 4.20   1,682   3.1   615   87.2   4.3   44.7   93.4   2.8  
34. 10,000+ ...   ...   ...   ...   ...   ...   ...   ...   ...  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.62   3,026   3.4   79   86.8   2.6   128   90.2   5.9  
36. Other 4.45   1,993   3.0   1,262   92.2   11.6   170   87.4   1.8  
... 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 1.16   34,424   8,618   234   15.8   68.6   3.4   56.4   5.3  
2. Minimal risk .86   3,751   15,269   105   1.3   90.8   .0   24.1   5.7  
3. Low risk .91   7,569   12,907   288   4.9   81.5   1.7   94.5   2.7  
4. Moderate risk 1.24   9,176   7,621   297   14.5   42.9   4.4   58.2   7.8  
5. Other 1.85   5,581   4,092   298   58.8   52.2   7.6   55.3   7.2  
 
6. Zero interval 4.39   1,255   1,482   1,308   66.1   4.0   74.1   100.0   10.3  
7. Minimal risk 3.83   66   1,875   1,507   4.3   .0   .0   100.0   11.8  
8. Low risk 2.88   223   1,121   934   36.3   .0   54.7   100.0   4.3  
9. Moderate risk 4.35   399   1,398   1,393   68.3   5.9   96.5   100.0   11.7  
10. Other 5.08   567   1,732   1,376   83.4   4.7   74.6   100.0   11.6  
 
11. Daily .69   18,959   32,720   12   11.9   85.0   .0   30.7   .7  
12. Minimal risk .62   3,124   111,276   1   .3   99.3   .0   10.1   .0  
13. Low risk .62   4,752   61,543   4   .0   91.2   .0   91.6   .0  
14. Moderate risk .76   3,741   24,728   36   6.0   56.4   .1   11.0   2.7  
15. Other .85   2,603   23,177   26   76.7   70.8   .0   21.4   2.8  
 
16. 2 to 30 days 1.11   8,012   6,257   281   9.1   55.0   .1   82.6   3.6  
17. Minimal risk 1.84   152   2,833   618   .0   21.3   .0   100.0   2.5  
18. Low risk 1.11   1,111   7,124   442   6.5   70.2   .0   98.9   2.3  
19. Moderate risk 1.00   3,251   7,733   356   6.3   28.2   .3   92.1   5.7  
20. Other 1.74   1,456   2,742   289   28.3   51.8   .0   77.2   1.5  
 
21. 31 to 365 days 1.92   5,657   5,066   608   23.4   47.1   1.4   91.9   11.2  
22. Minimal risk 1.90   409   3,176   490   9.4   65.8   .0   90.6   10.8  
23. Low risk 1.39   1,479   9,723   989   14.5   71.1   .1   100.0   10.7  
24. Moderate risk 1.97   1,785   5,178   499   35.3   49.6   .3   86.3   12.3  
25. Other 2.80   949   2,505   426   41.5   30.1   .0   87.4   14.9  
  Months  
26. More than 365 days 2.80   535   3,220   47   57.5   71.6   27.6   100.0   8.8  
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 5.07   27   3.4   55   64.1   12.6   28.1   95.3   5.7  
32. 100 - 999 3.38   514   3.1   137   40.3   29.8   27.9   91.6   9.4  
33. 1,000 - 9,999 2.09   5,636   3.2   96   33.4   43.9   8.8   84.3   8.9  
34. 10,000+ .93   28,246   2.5   23   11.8   74.3   1.9   50.2   4.0  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.49   1,181   3.4   191   53.7   6.2   1,655   98.8   10.8  
36. Other 1.04   33,243   2.6   31   14.4   70.9   10,132   54.9   5.0  
... 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 1.66   40,810   871   2.9   104   27.1   67.2   12.6  
2. Not under commitment 1.29   24,001   708   3.0   30   22.2   73.9   10.9  
3. Informal commitment 1.27   7,844   1,340   2.3   120   16.8   84.7   5.6  
4. Formal commitment 2.97   8,964   1,267   3.1   288   49.3   34.1   23.2  
  Before survey week9  
5. Up to 90 days 2.15   12,096   496   3.0   97   31.4   31.0   18.9  
6. 91 to 365 days 3.12   14,514   337   3.1   67   54.0   39.5   37.3  
7. More than 365 days 2.80   16,584   803   2.9   72   39.1   37.6   25.9  
 
Domestic banks
8. During survey week 2.78   17,080   382   3.2   231   47.2   45.6   28.7  
9. Not under commitment 2.29   9,008   271   3.4   72   35.3   53.9   28.8  
10. Informal commitment 4.20   1,244   228   2.9   721   92.1   5.2   33.3  
11. Formal commitment 3.18   6,827   1,135   3.0   353   54.7   42.0   27.7  
  Before survey week9  
12. Up to 90 days 2.82   6,352   267   3.1   137   52.0   33.6   32.5  
13. 91 to 365 days 3.22   12,641   298   3.1   52   57.5   37.8   39.8  
14. More than 365 days 2.91   13,507   679   2.9   63   37.8   35.7   29.2  
 
Large domestic banks
15. During survey week 2.46   14,400   484   3.3   111   39.2   52.5   25.7  
16. Not under commitment 2.11   8,461   323   3.5   40   32.6   57.0   27.2  
17. Informal commitment 3.67   537   325   3.0   411   90.9   9.6   38.3  
18. Formal commitment 2.90   5,402   2,840   2.9   192   44.3   49.7   22.0  
  Before survey week9  
19. Up to 90 days 2.53   5,529   307   3.1   106   45.4   38.1   26.6  
20. 91 to 365 days 3.11   11,628   364   3.1   54   55.7   40.9   36.4  
21. More than 365 days 2.87   13,146   813   2.9   63   36.4   36.4   27.8  
 
Small domestic banks
22. During survey week 4.48   2,679   178   3.2   881   90.3   8.5   44.9  
23. Not under commitment 5.04   548   77   3.0   570   76.8   6.1   54.0  
24. Informal commitment 4.59   707   186   2.9   958   93.0   1.8   29.5  
25. Formal commitment 4.21   1,425   346   3.4   962   94.1   12.8   49.1  
  Before survey week9  
26. Up to 90 days 4.72   823   142   3.3   344   96.3   3.1   72.6  
27. 91 to 365 days 4.48   1,012   96   3.3   29   78.1   2.3   78.0  
28. More than 365 days 4.52   361   97   3.3   71   88.7   9.0   81.5  
 
Foreign banks
29. During survey week .85   23,730   11,367   2.5   12   12.7   82.8   .9  
30. Not under commitment .69   14,993   23,881   2.6   5   14.4   85.9   .1  
31. Informal commitment .72   6,600   16,498   2.2   7   2.6   99.7   .3  
32. Formal commitment 2.31   2,137   2,017   3.1   82   31.8   8.9   8.7  
  Before survey week9  
33. Up to 90 days 1.42   5,744   10,230   2.9   54   8.6   28.1   3.8  
34. 91 to 365 days 2.47   1,873   3,215   2.9   171   30.5   51.3   20.7  
35. More than 365 days 2.31   3,077   4,034   2.9   110   44.5   46.0   11.4  
... 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 3.39   3.40   3.37   3.53   3.22  
Standard error of loan rate4 .19   .19   .21   .15   .36  

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 March 31, 2012, assets of the large banks were at least $4.4 billion. Median total assets for all insured banks were roughly $154 million. Assets at all U.S. branches and agencies averaged $8.9 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: June 28, 2012