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

Release Date: October 1, 2003
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E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 4-8, 2003                          For immediate release
1. Commercial and industrial loans made by all commercial banks1                         October 1, 2003
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   58,650   422   567   37.5   22.4   34.8   78.1   12.8  
 2.   Mininal risk 2.22   1,456   369   428   26.9   20.5   16.4   84.1   12.2  
 3.   Low risk 2.63   12,925   1,222   582   14.1   23.3   21.4   81.1   4.7  
 4.   Moderate risk 3.22   20,322   508   747   40.3   21.5   35.3   86.0   10.5  
 5.   Other 3.60   14,729   315   399   51.4   23.5   38.1   76.0   17.3  
 
 6. Zero interval 4.40   15,484   253   841   41.1   11.5   66.9   86.1   12.2  
 7.   Mininal risk 3.39   223   153   563   58.9   3.3   50.7   96.2   4.5  
 8.   Low risk 4.39   3,894   1,096   1,153   5.7   1.8   53.3   59.3   2.8  
 9.   Moderate risk 4.27   6,199   282   936   40.5   13.1   71.3   96.0   11.0  
10.   Other 4.59   4,634   184   480   65.6   19.0   74.1   94.3   19.8  
 
11. Daily 2.29   20,863   646   231   28.0   26.4   26.9   72.6   12.9  
12.   Mininal risk 1.43   537   2,178   51   3.6   33.9   14.9   94.4   2.6  
13.   Low risk 1.30   5,218   4,423   167   5.5   35.5   3.4   88.8   2.8  
14.   Moderate risk 2.26   4,963   1,051   390   27.9   22.2   18.6   83.5   6.3  
15.   Other 2.76   4,794   468   128   42.9   21.6   26.4   51.5   19.4  
 
16. 2 to 30 days 2.64   9,139   644   416   34.3   29.0   18.3   75.9   15.8  
17.   Mininal risk 1.58   331   2,105   158   14.7   17.1   3.6   82.9   41.0  
18.   Low risk 2.11   1,529   852   380   20.3   36.2   12.6   95.3   7.3  
19.   Moderate risk 2.73   3,396   1,103   559   37.3   28.2   18.3   83.3   15.2  
20.   Other 3.04   2,285   376   211   39.0   36.0   10.7   73.1   15.8  
 
21. 31 to 365 days 3.01   10,077   627   608   45.2   27.6   14.9   84.0   10.5  
22.   Mininal risk 2.33   229   186   663   60.7   8.8   7.4   70.9   6.3  
23.   Low risk 2.61   1,900   941   524   36.8   25.3   9.6   93.8   10.5  
24.   Moderate risk 2.84   4,392   801   695   51.3   29.6   16.6   82.8   8.1  
25.   Other 3.67   2,500   1,047   622   49.6   25.9   17.7   93.2   12.3  
  Months  
26. More than 365 days 4.84   2,889   210   60   66.9   15.7   38.6   59.2   13.4  
27.   Mininal risk 4.85   134   160   61   38.9   24.2   10.8   48.5   4.4  
28.   Low risk 5.04   384   189   49   78.1   14.2   36.3   77.6   2.9  
29.   Moderate risk 4.49   1,275   298   61   58.3   14.9   34.0   64.2   19.6  
30.   Other 4.84   452   215   67   66.3   17.4   39.7   66.2   11.0  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 5.03   2,501   3.4   184   82.4   4.1   75.1   86.2   16.5  
32.   100 - 999 4.28   8,379   3.4   159   71.6   8.1   71.6   87.3   19.0  
33.   1,000 - 9,999 3.15   18,315   3.2   126   36.9   30.5   30.2   79.0   14.7  
34.   10,000+ 2.67   29,455   2.9   59   24.2   23.1   23.7   74.1   9.1  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.59   20,385   3.2   92   56.6   4.0   206   89.9   14.2  
36.   Other 2.39   38,265   3.0   104   27.3   32.3   958   71.8   11.9   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 4-8, 2003                          For immediate release
2. Commercial and industrial loans made by domestic banks1                               October 1, 2003
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   44,558   330   692   42.7   12.3   43.6   81.6   12.9  
 2.   Mininal risk 2.47   896   236   484   30.6   25.0   26.2   89.7   17.6  
 3.   Low risk 2.70   11,305   1,118   596   13.9   19.9   23.8   79.4   4.3  
 4.   Moderate risk 3.54   15,926   409   906   45.9   13.1   43.3   84.5   10.3  
 5.   Other 4.19   9,023   201   590   67.0   4.8   58.1   88.6   17.1  
 
 6. Zero interval 4.57   13,608   226   936   46.0   2.0   73.3   84.2   9.0  
 7.   Mininal risk 3.38   219   151   563   59.8   3.3   49.9   96.1   4.3  
 8.   Low risk 4.39   3,836   1,103   1,158   5.7   1.4   53.0   58.6   2.6  
 9.   Moderate risk 4.56   5,419   249   1,059   45.7   2.7   79.4   95.4   7.8  
10.   Other 4.82   3,605   146   576   82.3   1.8   89.3   92.7   15.7  
 
11. Daily 2.41   14,375   462   328   30.8   20.9   37.8   80.5   15.7  
12.   Mininal risk 1.29   310   1,806   95   6.3   58.8   25.9   90.2   4.8  
13.   Low risk 1.27   4,669   4,371   166   2.2   31.9   3.9   87.5   3.2  
14.   Moderate risk 2.66   3,155   702   599   39.2   31.5   28.1   74.3   10.2  
15.   Other 3.46   1,950   200   334   51.0   2.8   60.9   77.6   23.9  
 
16. 2 to 30 days 2.78   6,401   487   535   40.0   11.8   22.7   79.9   17.6  
17.   Mininal risk 1.51   205   1,587   226   20.9   .1   5.9   100.0   54.4  
18.   Low risk 2.20   1,119   682   384   25.1   25.2   17.2   97.7   7.8  
19.   Moderate risk 2.83   2,650   959   670   38.4   13.2   20.7   83.7   14.6  
20.   Other 3.79   1,164   206   399   61.4   4.3   16.5   90.5   20.2  
 
21. 31 to 365 days 3.14   7,179   477   624   51.8   14.6   18.8   88.1   10.3  
22.   Mininal risk 3.57   68   57   205   39.1   3.0   25.1   62.6   10.6  
23.   Low risk 2.57   1,298   688   387   51.5   28.6   10.9   96.2   8.7  
24.   Moderate risk 2.93   3,371   649   763   53.5   13.5   20.5   83.4   7.6  
25.   Other 3.85   1,792   907   598   56.7   10.1   23.2   96.8   12.6  
  Months  
26. More than 365 days 4.89   2,800   203   61   68.8   14.5   39.8   60.8   13.4  
27.   Mininal risk 5.54   93   111   69   56.2   34.9   15.6   70.0   4.4  
28.   Low risk 5.04   384   189   49   78.1   14.2   36.3   77.6   2.9  
29.   Moderate risk 4.52   1,234   289   62   60.3   12.0   35.2   66.4   19.6  
30.   Other 4.84   452   215   67   66.3   17.4   39.7   66.2   11.0  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 5.04   2,476   3.4   185   82.8   3.9   75.2   86.1   16.5  
32.   100 - 999 4.33   7,830   3.4   169   75.0   5.5   74.0   87.2   19.1  
33.   1,000 - 9,999 3.52   11,733   3.2   175   49.9   13.2   42.0   85.7   16.5  
34.   10,000+ 2.83   22,519   2.6   72   23.3   15.1   30.5   77.0   8.0  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.57   19,445   3.2   95   57.5   3.1   198   89.6   14.2  
36.   Other 2.48   25,113   2.8   143   31.2   19.4   681   75.4   11.7   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 4-8, 2003                          For immediate release
3. Commercial and industrial loans made by large domestic banks1                         October 1, 2003
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 3.12   38,506   549   632   36.0   13.2   39.8   82.5   14.2  
 2.   Mininal risk 1.75   656   1,035   308   26.1   29.1   22.4   94.2   22.4  
 3.   Low risk 2.51   10,464   3,818   563   9.9   21.1   21.6   79.4   4.5  
 4.   Moderate risk 3.28   13,762   806   811   39.4   13.6   38.9   87.7   10.8  
 5.   Other 4.06   7,655   267   528   63.0   4.7   56.4   89.0   19.0  
 
 6. Zero interval 4.52   10,982   403   1,015   37.0   1.9   70.0   82.3   9.7  
 7.   Mininal risk 2.87   118   302   696   80.0   5.5   58.6   93.5   7.3  
 8.   Low risk 4.31   3,559   5,703   1,147   2.3   .5   50.3   56.8   2.5  
 9.   Moderate risk 4.56   4,407   417   1,166   37.0   2.8   76.8   96.6   8.0  
10.   Other 4.82   2,741   208   603   78.5   1.9   87.3   92.3   18.3  
 
11. Daily 2.24   13,549   480   326   27.1   22.0   34.1   79.9   16.7  
12.   Mininal risk 1.21   303   3,381   70   6.4   60.0   24.4   90.0   4.9  
13.   Low risk 1.25   4,652   6,103   164   1.9   32.0   3.5   87.6   3.2  
14.   Moderate risk 2.57   3,025   910   568   38.2   32.9   25.0   74.1   10.6  
15.   Other 3.43   1,918   204   317   50.5   2.8   60.3   78.3   24.1  
 
16. 2 to 30 days 2.58   5,616   660   506   35.6   13.3   20.2   81.1   19.6  
17.   Mininal risk 1.35   190   2,786   225   16.4   .1   .2   100.0   58.1  
18.   Low risk 2.20   938   1,041   422   25.2   30.0   17.1   97.5   9.3  
19.   Moderate risk 2.54   2,379   1,653   563   31.6   14.6   13.1   91.1   14.8  
20.   Other 3.56   886   248   432   58.2   5.6   19.4   87.7   27.2  
 
21. 31 to 365 days 2.90   6,590   2,315   577   49.4   14.5   16.0   89.7   10.9  
22.   Mininal risk 2.96   28   392   136   33.2   7.3   5.8   100.0   14.2  
23.   Low risk 2.20   1,179   3,300   392   48.9   31.4   8.5   98.7   9.2  
24.   Moderate risk 2.72   3,126   4,016   657   50.8   11.6   17.0   83.7   8.1  
25.   Other 3.80   1,743   1,481   573   56.1   10.3   22.3   97.2   12.8  
  Months  
26. More than 365 days 3.81   1,577   808   39   49.2   12.9   46.8   80.3   17.7  
27.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
28.   Low risk 3.03   136   1,417   38   38.2   33.5   35.0   98.7   6.3  
29.   Moderate risk 3.30   730   1,220   37   35.0   6.3   46.1   94.4   23.0  
30.   Other 4.37   306   438   35   50.7   6.5   51.4   82.9   12.7  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 4.34   1,316   3.7   56   78.7   5.6   79.4   91.8   25.2  
32.   100 - 999 3.98   5,418   3.5   63   68.8   5.5   74.9   93.5   23.5  
33.   1,000 - 9,999 3.32   10,082   3.2   89   45.9   13.7   40.9   89.2   18.0  
34.   10,000+ 2.74   21,689   2.6   70   20.7   15.4   28.2   76.1   8.4  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.44   15,341   3.2   77   49.2   2.7   279   91.9   16.4  
36.   Other 2.25   23,165   2.7   71   27.3   20.2   1,530   76.3   12.4   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 4-8, 2003                          For immediate release
4. Commercial and industrial loans made by small domestic banks1                         October 1, 2003
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 5.14   6,052   94   1,080   84.8   6.5   67.8   75.7   3.2  
 2.   Mininal risk 4.44   240   76   1,021   42.7   13.8   36.7   77.5   1.5  
 3.   Low risk 5.06   841   114   1,022   63.5   5.5   50.5   79.2   1.5  
 4.   Moderate risk 5.19   2,164   99   1,538   87.8   10.0   71.3   64.1   5.2  
 5.   Other 4.90   1,368   85   921   89.4   5.3   67.9   86.6   3.8  
 
 6. Zero interval 4.77   2,626   80   575   83.7   2.8   87.3   92.0   5.6  
 7.   Mininal risk 3.97   101   95   268   36.2   .8   39.8   99.2   .9  
 8.   Low risk 5.41   277   97   1,334   49.0   13.0   87.8   81.9   3.9  
 9.   Moderate risk 4.55   1,012   91   527   83.5   2.2   90.9   90.0   7.0  
10.   Other 4.81   863   75   490   94.4   1.5   95.9   93.9   5.5  
 
11. Daily 5.06   826   281   361   92.0   2.0   99.6   91.4   .9  
12.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
13.   Low risk 5.22   17   56   769   84.9   .0   88.7   71.9   1.8  
14.   Moderate risk 4.66   130   111   1,262   64.4   .0   99.9   78.4   .9  
15.   Other 5.17   32   92   1,295   80.9   .0   99.3   36.7   3.3  
 
16. 2 to 30 days 4.21   785   170   727   71.5   1.2   40.4   71.1   1.6  
17.   Mininal risk 3.53   15   248   241   77.9   .0   77.6   100.0   8.7  
18.   Low risk 2.19   180   244   200   24.2   .0   18.3   99.2   .2  
19.   Moderate risk 5.38   271   205   1,603   97.9   .6   87.8   18.7   7.2  
20.   Other 4.53   277   133   314   72.0   .0   7.1   99.6   .3  
 
21. 31 to 365 days 5.75   589   48   1,158   78.6   15.6   49.9   70.5   1.4  
22.   Mininal risk 3.99   40   36   251   43.1   .0   38.4   36.6   3.7  
23.   Low risk 6.30   119   78   336   77.4   .8   35.3   70.8   .8  
24.   Moderate risk 5.61   245   55   2,113   88.5   36.5   64.3   79.3   1.1  
25.   Other 5.78   49   61   1,506   76.6   3.2   55.5   81.6   3.7  
  Months  
26. More than 365 days 6.27   1,223   104   88   94.0   16.6   30.9   35.8   .6  
27.   Mininal risk 5.44   77   94   68   47.3   42.0   18.7   64.0   .0  
28.   Low risk 6.14   248   128   54   100.0   3.7   37.0   66.0   .1  
29.   Moderate risk 6.29   504   137   98   96.8   20.3   19.3   25.7   1.7  
30.   Other 5.82   146   104   133   99.0   40.2   15.2   31.2   .3  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 5.83   1,160   3.2   327   87.4   2.0   70.5   79.7   4.3  
32.   100 - 999 5.12   2,412   3.1   403   89.1   5.3   72.0   73.1   5.0  
33.   1,000 - 9,999 4.77   1,651   3.0   703   74.1   10.2   48.5   64.6   1.7  
34.   10,000+ ...   ...   ...   ...   ...   ...   ...   ...   ...  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 5.08   4,104   3.1   161   88.5   4.7   96   80.8   4.0  
36.   Other 5.26   1,948   3.0   1,002   77.0   10.3   90   64.9   1.3   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 4-8, 2003                              For immediate release
5. Commercial and industrial loans made by U.S. branches and agencies of foreign banks1      October 1, 2003
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 2.38   14,092   3,417   184   21.0   54.5   6.7   66.9   12.3  
 2.   Mininal risk 1.83   560   3,717   351   21.1   13.3   .6   75.2   1.8  
 3.   Low risk 2.15   1,620   3,428   484   15.3   46.7   5.2   92.9   7.0  
 4.   Moderate risk 2.07   4,396   4,000   180   20.0   51.7   6.1   91.5   11.3  
 5.   Other 2.67   5,707   3,091   122   26.9   53.2   6.5   56.2   17.8  
 
 6. Zero interval 3.18   1,876   2,164   151   6.0   79.7   20.4   99.9   31.2  
 7.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
 8.   Low risk 4.09   58   776   786   4.4   23.5   74.2   100.0   10.3  
 9.   Moderate risk 2.29   780   2,958   85   4.2   85.4   15.0   100.0   31.6  
10.   Other 3.79   1,029   2,023   163   7.1   79.2   20.8   99.9   32.2  
 
11. Daily 2.03   6,488   5,684   30   21.9   38.7   2.8   55.0   3.9  
12.   Mininal risk 1.63   228   3,023   1   .0   .0   .0   100.0   .0  
13.   Low risk 1.54   549   4,926   170   33.7   66.0   .0   99.9   .0  
14.   Moderate risk 1.56   1,808   7,995   51   8.2   6.0   2.1   99.5   1.2  
15.   Other 2.29   2,844   5,609   3   37.3   34.5   2.7   33.8   12.3  
 
16. 2 to 30 days 2.33   2,738   2,576   136   21.1   69.2   8.1   66.8   10.8  
17.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
18.   Low risk 1.87   411   2,643   370   7.4   66.2   .0   88.6   5.8  
19.   Moderate risk 2.36   746   2,364   136   33.2   81.6   9.7   82.1   17.4  
20.   Other 2.27   1,121   2,716   40   15.6   68.9   4.6   55.1   8.4  
 
21. 31 to 365 days 2.69   2,898   2,840   567   28.8   59.7   5.3   73.8   11.2  
22.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
23.   Low risk 2.70   602   4,618   827   5.0   18.0   6.7   88.6   14.7  
24.   Moderate risk 2.53   1,021   3,535   466   44.1   82.8   3.9   81.2   9.9  
25.   Other 3.21   708   1,715   683   31.7   65.8   3.8   84.0   11.6  
  Months  
26. More than 365 days ...   ...   ...   ...   ...   ...   ...   ...   ...  
27.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
28.   Low risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
29.   Moderate risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
30.   Other ...   ...   ...   ...   ...   ...   ...   ...   ...  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31.   1 - 99 4.30   25   3.6   18   40.9   25.6   65.1   91.8   16.2  
32.   100 - 999 3.59   549   3.6   22   22.5   45.3   37.1   88.0   17.7  
33.   1,000 - 9,999 2.49   6,582   3.3   38   13.9   61.4   9.3   67.2   10.7  
34.   10,000+ 2.18   6,937   3.6   19   27.5   48.7   1.6   64.8   13.3  
    Base rate of loan7   Average size
($ thousands)		  
35.   Prime8 4.88   941   3.6   20   38.3   21.0   890   96.0   12.9  
36.   Other 2.20   13,152   3.5   28   19.7   56.9   4,287   64.8   12.3   
...  The number of loans was insufficient to provide a meaningful value.
E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 4-8, 2003                                   For immediate release
6. Commercial and industrial loans by date pricing terms were set and commitment status           October 1, 2003
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 3.21   31,604   686   3.0   125   33.8   29.8   28.5  
 2.   Not under commitment 2.88   12,867   611   3.3   203   33.0   29.3   16.0  
 3.   Informal commitment 3.00   12,527   683   2.7   42   24.4   41.8   25.1  
 4.   Formal commitment 4.32   6,210   927   3.2   130   54.8   6.8   61.3  
    Before survey week9
 5.   Up to 90 days 2.62   6,774   340   2.6   85   35.7   9.0   35.4  
 6.   91 to 365 days 3.57   5,109   190   3.2   50   62.4   9.7   49.0  
 6.   More than 365 days 3.09   14,586   356   3.4   70   35.4   18.1   41.5  
 
Domestic banks
 8. During survey week 3.66   22,173   508   2.8   165   38.9   21.0   38.8  
 9.   Not under commitment 3.26   8,198   407   2.8   297   37.2   3.1   24.7  
10.   Informal commitment 3.55   8,250   486   2.6   56   31.5   52.6   34.7  
11.   Formal commitment 4.38   5,726   868   3.2   134   52.2   1.0   64.6  
    Before survey week9
12.   Up to 90 days 2.63   6,333   321   2.6   88   34.8   3.4   36.8  
13.   91 to 365 days 3.65   4,345   164   3.3   52   62.5   4.9   54.4  
14.   More than 365 days 3.17   11,129   280   3.3   88   44.4   3.7   51.6  
 
Large domestic banks
15. During survey week 3.30   18,313   2,045   2.8   71   29.3   23.9   34.2  
16.   Not under commitment 2.67   6,728   1,181   2.7   83   25.3   .9   18.4  
17.   Informal commitment 3.28   6,840   3,799   2.5   18   23.8   62.4   32.6  
18.   Formal commitment 4.21   4,745   3,253   3.2   131   43.1   1.1   59.0  
    Before survey week9
19.   Up to 90 days 2.27   5,477   545   2.6   63   27.6   2.7   29.8  
20.   91 to 365 days 3.47   3,769   260   3.3   56   58.7   5.0   49.4  
21.   More than 365 days 3.14   10,856   299   3.3   89   43.7   3.5   50.6  
 
Small domestic banks
22. During survey week 5.37   3,860   111   3.0   612   84.5   7.1   60.2  
23.   Not under commitment 5.95   1,469   102   2.9   1,278   91.5   13.1   53.5  
24.   Informal commitment 4.88   1,410   93   3.1   240   68.7   5.5   45.2  
25.   Formal commitment 5.19   981   191   3.1   151   96.7   .4   91.9  
    Before survey week9
26.   Up to 90 days 4.91   856   88   2.9   246   80.9   8.0   81.9  
27.   91 to 365 days 4.84   575   48   3.2   21   88.0   4.1   86.6  
28.   More than 365 days 4.36   273   78   3.3   44   74.0   10.0   90.2  
 
Foreign banks
29. During survey week 2.16   9,430   3,939   3.5   30   21.8   50.6   4.4  
30.   Not under commitment 2.22   4,669   5,049   4.3   38   25.6   75.3   .8  
31.   Informal commitment 1.93   4,277   3,121   2.9   16   10.6   20.8   6.4  
32.   Formal commitment 3.54   484   4,891   3.2   76   84.8   75.2   21.7  
    Before survey week9
33.   Up to 90 days 2.46   441   2,322   2.8   52   48.2   90.1   14.7  
34.   91 to 365 days 3.10   764   2,223   2.9   43   61.5   36.9   18.8  
35.   More than 365 days 2.83   3,457   2,889   3.7   14   6.2   64.5   9.1   
...  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 4.07   4.07   4.00   4.33   4.00  
Standard error of loan rate4 .12   .14   .20   .11   .11  

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: October 1, 2003