A.14. Survey of Terms of Bank Lending to Farmers, Selected Quarters Percent except as noted
| USDA Farm Production Region | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| NE | LS | CB | NP | AP | SE | DL | SP | MN | PA | |
| Proportion of farm loans outstanding, 2003 Q3 survey, region share of national total |
2.8 | 9.4 | 27.7 | 17.4 | 8.9 | 4.6 | 4.7 | 8.6 | 5.5 | 10.5 |
| Sample coverage, 2003 Q3 survey, sample share of total regional loans |
13.5 | 2.7 | 21.1 | 9.7 | 18.2 | 17.1 | 9.4 | 5.1 | 9.5 | 58.7 |
| Avg. loan size, 2003 Q4 survey (thousands of dollars) |
32.1 | 39.0 | 45.2 | 20.4 | 130.8 | 31.0 | 76.4 | 41.3 | 21.9 | 52.6 |
| Survey date | Weighted average interest rate during sample week | |||||||||
| 1998 Q3 | 10.2 | 9.5 | 9.5 | 9.5 | 8.8 | 9.5 | 9.7 | 9.5 | 9.6 | 8.5 |
| Q4 | 9.4 | 9.2 | 8.7 | 9.0 | 8.3 | 9.4 | 9.7 | 9.2 | 9.1 | 8.0 |
| 1999: Q1 | 8.4 | 8.9 | 8.9 | 9.1 | 8.2 | 9.0 | 9.6 | 9.1 | 9.0 | 7.5 |
| Q2 | 9.6 | 9.1 | 8.8 | 9.0 | 8.0 | 9.0 | 9.8 | 9.0 | 8.7 | 8.0 |
| Q3 | 10.2 | 8.9 | 8.7 | 9.3 | 8.2 | 8.9 | 10.0 | 8.8 | 9.0 | 8.5 |
| Q4 | 9.1 | 9.2 | 8.8 | 9.4 | 8.3 | 8.8 | 9.8 | 9.0 | 9.5 | 8.8 |
| 2000: Q1 | 9.4 | 9.2 | 9.2 | 9.6 | 8.4 | 9.8 | 9.3 | 10.0 | 9.8 | 8.4 |
| Q2 | 10.7 | 9.5 | 9.7 | 9.7 | 9.1 | 9.1 | 10.5 | 10.0 | 10.1 | 9.5 |
| Q3 | 10.5 | 10.30 | 10.0 | 10.3 | 9.7 | 9.2 | 10.5 | 10.0 | 10.6 | 9.7 |
| Q4 | 10.7 | 9.3 | 9.9 | 10.1 | 9.2 | 9.4 | 9.2 | 10.3 | 10.3 | 9.8 |
| 2001: Q1 | 9.3 | 9.1 | 9.4 | 9.7 | 8.4 | 7.8 | 9.5 | 9.0 | 9.8 | 8.8 |
| Q2 | 8.2 | 8.7 | 8.3 | 8.8 | 7.4 | 8.1 | 8.3 | 9.2 | 8.6 | 7.9 |
| Q3 | 8.3 | 9.8 | 7.9 | 8.2 | 6.3 | 7.6 | 8.7 | 8.8 | 7.8 | 7.2 |
| Q4 | 6.9 | 7.9 | 6.3 | 7.0 | 5.2 | 6.3 | 8.7 | 7.6 | 6.1 | 5.2 |
| standard error | (.23) | (.78) | (.38) | (.29) | (.36) | (1.71) | (.42) | (.79) | (.33) | (.35) |
| 2002: Q1 | 6.9 | 7.8 | 6.7 | 7.2 | 5.2 | 5.5 | 7.3 | 7.4 | 6.8 | 4.9 |
| standard error | (.12) | (.37) | (.26) | (.22) | (.63) | (1.14) | (.39) | (.45) | (.26) | (.25) |
| Q2 | 6.8 | 7.4 | 6.4 | 7.2 | 5.0 | 5.9 | 7.6 | 7.5 | 6.5 | 5.1 |
| standard error | (.14) | (.29) | (.27) | (.21) | (.48) | (1.03) | (.23) | (.34) | (.36) | (.26) |
| Q3 | 6.4 | 7.5 | 5.8 | 6.5 | 4.6 | 6.0 | 7.5 | 7.3 | 6.5 | 5.3 |
| standard error | (.43) | (.29) | (.50) | (.68) | (.67) | (1.19) | (.34) | (.68) | (.41) | (1.06) |
| Q4 | 5.7 | 6.9 | 5.1 | 5.5 | 4.6 | 5.2 | 6.7 | 7.6 | 6.4 | 4.5 |
| standard error | (.35) | (.45) | (.47) | (1.01) | (.56) | (.62) | (.68) | (.35) | (.47) | (.62) |
| 2003: Q1 | 5.3 | 7.0 | 5.6 | 5.7 | 4.4 | 5.6 | 6.7 | 7.4 | 6.1 | 4.5 |
| standard error | (.15) | (.26) | (.31) | (.73) | (.65) | (.63) | (.54) | (.66) | (.35) | (.40) |
| Q2 | 6.0 | 6.7 | 5.3 | 6.5 | 4.6 | 6.1 | 7.3 | 5.7 | 6.4 | 5.2 |
| standard error | (.29) | (.17) | (.37) | (.34) | (.71) | (.63) | (.45) | (.71) | (.36) | (.50) |
| Q3 | 6.0 | 6.9 | 4.7 | 5.6 | 4.5 | 4.8 | 6.7 | 5.5 | 5.6 | 4.3 |
| standard error | (.15) | (.04) | (.49) | (.39) | (.73) | (.69) | (.27) | (.99) | (.35) | (.26) |
| Q4 | 6.5 | 6.5 | 4.0 | 5.1 | 4.6 | 5.2 | 6.7 | 7.5 | 5.4 | 4.2 |
| standard error | (.59) | (.22) | (.30) | (.71) | (.54) | (.83) | (.54) | (.58) | (.39) | (.42) |
| 2004: Q1 | 5.8 | 7.0 | 5.2 | 5.7 | 4.3 | 5.9 | 6.4 | 6.3 | 5.7 | 3.8 |
| standard error | (.21) | (.15) | (.44) | (.25) | (.48) | (.64) | (.37) | (.23) | (.37) | (.41) |
| Q2 | 4.8 | 6.3 | 5.2 | 6.2 | 4.6 | 6.4 | 6.9 | 6.2 | 6.4 | 4.1 |
| standard error | (.19) | (.05) | (.66) | (.32) | (.45) | (.31) | (.57) | (.19) | (.40) | (.24) |
Notes. NE is Northeast, LS is Lake States, CB is Cornbelt, NP is Northern Plains, AP is Appalachia, SE is Southeast, DL is Delta States, SP is Southern Plains, MN is Mountain States, and PA is Pacific. The numbers in parentheses are standard errors. They are calculated from 100 replications of a bootstrap procedure (resampling of banks) in each region.