Board of Governors of the Federal Reserve System

Survey of Terms of Business Lending - E.2

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Release Date: December 21, 2011

E.2 Survey of Terms of Business Lending
NOVEMBER 7-11, 2011

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 2.58   60,713   560   574   44.1   46.4   24.3   76.6   13.8  
2. Minimal risk 1.41   3,156   1,260   371   23.8   48.5   13.7   66.9   5.7  
3. Low risk 2.07   9,307   616   623   37.0   28.8   28.5   87.8   9.8  
4. Moderate risk 2.42   23,076   459   487   49.8   40.2   26.3   65.9   9.8  
5. Other 3.45   18,530   555   783   53.8   59.7   23.8   93.3   19.1  
 
6. Zero interval 3.90   13,393   362   873   72.0   35.2   50.1   95.3   8.5  
7. Minimal risk 2.35   611   1,089   773   55.9   19.3   48.5   69.0   6.8  
8. Low risk 3.37   1,095   366   1,697   86.0   5.8   66.1   90.1   10.5  
9. Moderate risk 3.47   5,177   322   775   59.8   25.9   55.4   96.6   10.3  
10. Other 4.50   5,982   401   840   82.4   53.3   41.6   97.7   7.0  
 
11. Daily 1.59   18,773   1,141   229   33.4   57.2   18.2   48.5   8.3  
12. Minimal risk .78   1,595   3,066   99   5.6   76.6   3.4   55.4   6.9  
13. Low risk 1.60   2,841   1,247   211   23.8   27.4   25.6   85.8   6.3  
14. Moderate risk 1.55   9,048   1,236   250   46.8   59.9   16.4   35.2   11.5  
15. Other 3.10   2,321   413   525   53.2   23.7   47.2   97.5   5.4  
 
16. 2 to 30 days 2.36   16,344   412   395   43.0   34.2   15.5   81.1   12.5  
17. Minimal risk 1.66   296   1,533   870   27.9   31.1   8.1   98.0   .4  
18. Low risk 1.98   3,360   436   364   36.2   31.4   16.7   83.1   13.1  
19. Moderate risk 2.54   7,016   344   491   47.1   30.1   19.1   77.9   8.8  
20. Other 2.60   3,882   418   332   58.6   47.9   15.0   80.6   9.5  
 
21. 31 to 365 days 2.57   5,417   758   621   45.1   42.7   17.1   91.3   13.4  
22. Minimal risk 1.93   524   830   327   31.7   11.9   7.1   76.2   .9  
23. Low risk 1.94   1,732   1,687   988   28.6   38.4   32.9   98.6   9.1  
24. Moderate risk 2.73   1,225   389   572   44.8   27.6   7.2   86.3   7.0  
25. Other 3.34   1,543   1,034   431   76.6   64.8   9.6   91.5   28.2  
  Months  
26. More than 365 days 3.24   6,724   894   43   20.1   71.5   16.6   95.1   34.8  
27. Minimal risk 2.22   130   217   30   55.8   27.6   16.8   89.4   22.2  
28. Low risk 3.68   274   252   44   39.3   40.5   25.4   87.0   9.6  
29. Moderate risk 4.38   590   187   45   51.5   11.3   46.5   81.0   11.5  
30. Other 3.05   4,763   3,046   42   6.5   93.5   1.3   96.8   44.8  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 4.37   2,569   3.2   105   89.1   5.5   66.2   63.6   6.8  
32. 100 - 999 3.83   9,128   3.2   85   78.6   14.0   56.6   79.5   9.3  
33. 1,000 - 9,999 2.78   15,793   3.1   91   49.1   31.9   30.8   92.2   11.0  
34. 10,000+ 2.00   33,224   3.1   232   28.8   65.4   9.1   69.4   17.4  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.07   14,747   3.1   165   67.4   3.5   221   81.5   8.6  
36. Other 2.10   45,966   3.1   169   36.7   60.2   1,101   75.1   15.6  
... 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 3.40   35,537   339   785   56.8   35.2   34.1   89.1   14.5  
2. Minimal risk 1.98   1,373   596   515   41.6   14.2   31.4   75.6   11.2  
3. Low risk 2.75   5,018   341   508   54.3   10.5   32.3   83.7   12.8  
4. Moderate risk 3.38   13,453   274   752   60.6   23.9   42.4   86.2   9.8  
5. Other 3.76   13,978   435   913   56.7   60.9   24.9   94.5   20.4  
 
6. Zero interval 3.88   12,769   351   786   71.7   36.4   49.2   95.0   8.4  
7. Minimal risk 2.28   562   1,020   694   52.1   21.0   52.4   66.3   7.1  
8. Low risk 3.20   931   316   706   84.8   6.8   62.6   88.3   11.9  
9. Moderate risk 3.46   5,044   319   765   59.9   25.9   54.7   96.6   10.2  
10. Other 4.48   5,704   389   822   82.8   55.4   40.5   97.6   6.6  
 
11. Daily 3.12   5,537   361   628   56.6   18.1   42.6   94.4   11.4  
12. Minimal risk 1.26   310   646   160   24.0   4.2   17.4   99.6   19.5  
13. Low risk 2.52   1,184   545   400   45.8   4.1   31.6   92.7   12.0  
14. Moderate risk 3.28   2,670   380   774   56.5   26.1   49.3   93.8   12.4  
15. Other 3.75   1,268   249   650   76.6   18.5   46.1   95.7   7.1  
 
16. 2 to 30 days 3.08   8,543   223   492   64.6   17.3   26.7   73.9   10.0  
17. Minimal risk 2.36   115   776   760   49.6   11.2   20.9   94.8   .8  
18. Low risk 2.53   2,044   272   302   51.9   5.2   27.4   72.4   16.1  
19. Moderate risk 3.18   4,470   225   604   62.9   21.4   29.2   71.3   7.5  
20. Other 3.47   1,526   171   417   97.0   26.7   25.1   75.4   10.0  
 
21. 31 to 365 days 3.10   2,357   354   479   53.6   30.2   12.9   85.2   7.4  
22. Minimal risk 1.90   256   488   225   28.9   5.8   14.5   51.3   2.5  
23. Low risk 2.83   592   600   584   38.1   34.7   7.3   96.0   7.9  
24. Moderate risk 3.58   678   224   723   74.3   29.9   7.9   81.6   5.5  
25. Other 3.29   683   496   312   60.8   36.3   17.8   92.0   8.5  
  Months  
26. More than 365 days 3.24   6,277   853   43   16.9   74.1   13.5   94.7   36.9  
27. Minimal risk 2.22   130   217   30   55.8   27.6   16.8   89.4   22.2  
28. Low risk 3.69   266   246   44   40.5   38.8   23.0   86.6   9.8  
29. Moderate risk 4.43   572   182   46   50.3   8.6   44.9   80.5   11.9  
30. Other 3.05   4,763   3,060   42   6.4   93.5   1.3   96.8   44.8  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 4.39   2,544   3.2   105   89.3   5.5   66.6   63.2   6.8  
32. 100 - 999 3.88   8,637   3.2   85   80.6   13.1   58.1   78.9   9.2  
33. 1,000 - 9,999 3.11   10,566   3.1   96   60.5   24.6   38.9   94.1   10.8  
34. 10,000+ 3.15   13,791   3.3   466   33.0   62.5   9.4   96.6   20.9  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.32   12,117   3.2   104   76.2   2.9   184   77.6   9.5  
36. Other 2.93   23,420   3.3   307   46.7   51.9   603   95.1   16.6  
... 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 3.29   32,682   422   803   54.1   37.9   31.6   90.0   15.2  
2. Minimal risk 1.76   1,262   1,589   531   36.9   15.4   29.2   77.5   11.8  
3. Low risk 2.64   4,698   394   484   52.6   11.0   30.3   83.3   13.2  
4. Moderate risk 3.23   12,163   322   782   57.8   26.0   40.8   86.5   10.3  
5. Other 3.67   13,048   583   928   54.4   64.9   21.9   96.0   21.0  
 
6. Zero interval 3.81   11,775   415   822   70.8   39.3   46.5   95.6   8.4  
7. Minimal risk 2.26   552   1,223   697   51.6   21.4   52.0   66.1   7.2  
8. Low risk 3.12   874   350   718   84.3   7.2   60.1   87.6   12.3  
9. Moderate risk 3.34   4,619   356   806   58.0   27.9   52.9   97.9   10.3  
10. Other 4.46   5,328   497   852   82.9   59.2   37.0   98.2   6.3  
 
11. Daily 2.92   4,883   529   654   53.0   20.0   37.0   94.9   11.9  
12. Minimal risk 1.07   294   1,292   151   20.2   4.1   13.8   99.7   20.5  
13. Low risk 2.44   1,105   657   363   45.0   4.2   28.9   92.2   12.0  
14. Moderate risk 3.07   2,339   514   832   52.3   29.1   44.0   94.6   13.2  
15. Other 3.54   1,073   456   687   74.9   21.5   38.7   96.8   6.6  
 
16. 2 to 30 days 3.06   8,272   228   505   63.6   17.8   26.2   73.2   10.3  
17. Minimal risk 2.33   113   2,360   769   48.9   11.4   20.3   94.7   .5  
18. Low risk 2.52   2,017   277   303   51.9   4.8   26.8   72.3   16.1  
19. Moderate risk 3.17   4,277   227   634   61.3   22.3   29.2   70.2   7.9  
20. Other 3.44   1,483   176   422   96.9   27.4   23.9   74.9   10.1  
 
21. 31 to 365 days 2.69   1,969   1,056   505   46.2   36.1   7.4   87.7   8.2  
22. Minimal risk 1.13   197   4,780   224   7.5   7.5   1.3   54.8   2.5  
23. Low risk 2.52   510   1,551   559   30.7   40.2   3.7   96.0   8.8  
24. Moderate risk 3.02   531   631   862   70.0   38.0   3.2   78.6   6.7  
25. Other 3.01   598   1,377   316   55.8   41.3   10.6   99.3   8.9  
  Months  
26. More than 365 days 3.04   5,756   4,172   42   9.9   79.9   12.6   99.0   38.5  
27. Minimal risk 1.61   106   4,018   32   48.2   33.9   13.7   98.8   24.6  
28. Low risk 3.11   190   1,296   45   17.9   54.0   10.1   95.1   12.2  
29. Moderate risk 3.86   389   806   42   32.5   9.7   55.4   93.6   15.0  
30. Other 2.93   4,548   14,000   41   2.0   97.2   .8   99.8   45.6  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 4.05   1,894   3.1   24   89.0   6.5   67.1   57.5   7.3  
32. 100 - 999 3.69   7,237   3.2   46   79.5   14.6   57.0   79.2   9.8  
33. 1,000 - 9,999 3.02   9,761   3.1   88   58.5   26.5   37.3   94.9   11.2  
34. 10,000+ 3.15   13,791   3.3   466   33.0   62.5   9.4   96.6   20.9  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.23   10,337   3.1   105   74.1   3.0   215   76.5   10.2  
36. Other 2.85   22,346   3.3   295   44.9   54.1   764   96.2   17.0  
... 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 4.77   2,855   104   588   87.0   3.9   62.4   79.7   5.9  
2. Minimal risk 4.48   111   74   325   94.7   .8   57.1   54.4   2.3  
3. Low risk 4.37   320   116   825   79.5   3.5   61.2   89.1   7.1  
4. Moderate risk 4.75   1,289   113   498   86.7   3.9   58.1   83.0   5.0  
5. Other 5.00   930   96   693   89.1   5.1   68.2   72.3   8.1  
 
6. Zero interval 4.66   994   124   351   82.4   2.7   81.1   88.0   8.1  
7. Minimal risk 3.28   10   99   361   77.6   .0   70.9   79.2   5.1  
8. Low risk 4.46   57   126   519   92.8   .0   99.8   99.7   6.5  
9. Moderate risk 4.70   425   149   308   81.4   4.6   74.2   82.7   8.6  
10. Other 4.80   375   95   384   81.4   2.0   89.9   88.4   10.2  
 
11. Daily 4.65   653   107   437   83.4   3.7   84.7   90.6   7.6  
12. Minimal risk 4.61   16   64   316   93.7   5.5   83.7   98.7   1.1  
13. Low risk 3.61   79   162   899   58.1   3.8   69.4   99.9   12.5  
14. Moderate risk 4.75   332   133   366   86.1   4.9   86.3   87.8   6.2  
15. Other 4.92   195   71   441   85.9   2.0   87.1   89.6   9.6  
 
16. 2 to 30 days 3.66   271   132   200   93.7   4.2   41.4   92.7   3.9  
17. Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
18. Low risk 3.18   27   115   196   50.2   29.8   66.0   80.1   18.9  
19. Moderate risk 3.42   192   182   140   98.4   1.1   30.8   96.4   1.3  
20. Other 4.65   43   85   299   98.9   3.1   63.2   92.1   7.4  
 
21. 31 to 365 days 5.21   387   81   353   91.6   .3   40.9   72.6   2.1  
22. Minimal risk 4.47   59   123   226   100.0   .0   58.2   39.6   2.3  
23. Low risk 4.71   82   124   739   84.0   .0   30.3   96.3   2.5  
24. Moderate risk 5.60   147   67   244   90.1   .4   24.9   92.5   1.8  
25. Other 5.32   84   90   286   96.2   .6   68.9   40.2   2.1  
  Months  
26. More than 365 days 5.45   521   87   50   94.2   9.1   23.9   47.6   .5  
27. Minimal risk 4.88   24   42   19   88.8   .0   30.4   47.9   .4  
28. Low risk 5.15   76   81   40   97.7   .5   55.4   65.2   1.4  
29. Moderate risk 5.64   183   69   55   88.3   6.5   22.5   52.5   .3  
30. Other 5.44   215   174   53   99.6   15.8   12.0   35.1   .4  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 5.36   650   3.3   347   90.3   2.6   65.0   79.8   5.9  
32. 100 - 999 4.83   1,400   3.3   287   86.6   5.2   63.6   77.6   6.0  
33. 1,000 - 9,999 4.20   805   3.0   190   85.1   2.7   58.1   83.3   5.7  
34. 10,000+ ...   ...   ...   ...   ...   ...   ...   ...   ...  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.85   1,781   3.3   99   88.3   2.7   100   84.3   5.9  
36. Other 4.64   1,074   3.1   557   84.9   5.9   112   72.0   5.8  
... 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 1.41   25,176   6,968   308   26.3   62.3   10.4   59.0   12.1  
2. Minimal risk .98   1,783   8,810   264   10.2   74.9   .1   60.2   .3  
3. Low risk 1.28   4,290   10,454   731   16.7   50.1   24.1   92.5   6.8  
4. Moderate risk 1.07   9,623   8,088   176   34.8   63.0   3.8   37.5   9.9  
5. Other 2.52   4,552   3,545   414   44.8   56.1   20.2   89.9   14.8  
 
6. Zero interval 4.36   623   1,130   2,570   77.4   9.9   68.5   99.8   11.1  
7. Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
8. Low risk 4.35   164   4,059   6,356   92.7   .0   86.4   100.0   3.3  
9. Moderate risk 3.89   132   558   1,162   55.2   25.5   81.7   99.2   15.0  
10. Other 4.79   278   1,053   1,193   75.1   10.0   62.9   100.0   15.1  
 
11. Daily .94   13,237   11,998   87   23.7   73.6   7.9   29.3   4.2  
12. Minimal risk .66   1,285   31,740   86   1.2   94.1   .0   44.8   .1  
13. Low risk .94   1,657   15,577   105   8.1   44.0   21.3   80.9   1.6  
14. Moderate risk .83   6,377   22,257   67   42.7   74.0   2.7   10.7   8.1  
15. Other 2.32   1,054   2,045   386   25.1   30.0   48.5   99.7   3.6  
 
16. 2 to 30 days 1.57   7,801   6,000   319   19.4   52.7   3.3   89.1   14.8  
17. Minimal risk 1.21   182   4,012   942   14.2   43.6   .0   100.0   .1  
18. Low risk 1.14   1,316   6,234   436   11.9   72.2   .2   99.6   9.8  
19. Moderate risk 1.40   2,546   4,890   353   19.2   45.5   1.2   89.3   10.5  
20. Other 2.03   2,356   6,277   295   33.7   61.7   8.5   83.9   9.2  
 
21. 31 to 365 days 2.16   3,060   6,259   727   38.6   52.3   20.2   96.0   17.4  
22. Minimal risk 1.95   268   2,506   424   34.4   17.7   .0   100.0   .1  
23. Low risk 1.48   1,140   28,168   1,196   23.6   40.3   46.1   100.0   9.7  
24. Moderate risk 1.67   548   4,259   391   8.2   24.8   6.3   92.1   8.7  
25. Other 3.38   861   7,480   523   89.1   87.4   3.2   91.0   43.9  
  Months  
26. More than 365 days 3.21   447   2,888   41   65.2   36.1   59.5   100.0   6.1  
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 3.04   25   3.6   53   66.7   7.2   24.5   99.4   6.0  
32. 100 - 999 2.96   491   3.3   92   43.3   29.4   30.2   90.1   10.8  
33. 1,000 - 9,999 2.11   5,227   3.1   82   26.0   46.5   14.5   88.6   11.5  
34. 10,000+ 1.18   19,433   2.8   65   25.9   67.5   8.8   50.2   12.5  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 2.90   2,629   3.0   446   26.8   6.0   3,562   99.2   5.1  
36. Other 1.24   22,546   2.9   25   26.2   68.9   7,843   54.3   13.6  
... 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 1.82   24,671   584   2.8   122   35.4   56.7   22.9  
2. Not under commitment 1.64   14,186   453   2.8   39   42.3   64.4   19.3  
3. Informal commitment 1.36   4,402   791   2.7   66   19.5   84.7   10.6  
4. Formal commitment 2.57   6,083   1,131   2.8   356   30.7   18.6   40.5  
  Before survey week9  
5. Up to 90 days 3.28   10,233   535   3.3   52   54.3   36.6   19.9  
6. 91 to 365 days 3.18   11,018   323   3.1   71   61.9   25.2   37.1  
7. More than 365 days 2.90   14,788   1,143   3.4   396   38.5   51.9   20.1  
 
Domestic banks
8. During survey week 3.58   7,644   189   2.9   241   69.3   15.9   51.0  
9. Not under commitment 4.08   3,856   125   2.8   134   86.9   7.8   70.3  
10. Informal commitment 3.91   714   139   3.0   335   87.1   13.1   61.3  
11. Formal commitment 2.87   3,074   706   3.0   353   43.1   26.8   24.3  
  Before survey week9  
12. Up to 90 days 3.91   7,468   399   3.4   57   71.6   47.8   23.7  
13. 91 to 365 days 3.34   9,318   278   3.1   53   64.1   21.3   41.7  
14. More than 365 days 3.00   11,103   913   3.4   512   32.0   51.6   23.1  
 
Large domestic banks
15. During survey week 3.30   6,251   226   2.9   189   65.4   18.7   50.9  
16. Not under commitment 3.88   3,277   129   2.8   44   87.7   8.1   74.3  
17. Informal commitment 3.31   388   364   3.1   393   84.9   21.3   52.0  
18. Formal commitment 2.56   2,586   2,192   3.0   342   34.2   31.7   21.1  
  Before survey week9  
19. Up to 90 days 3.86   7,006   491   3.4   48   70.5   50.6   20.7  
20. 91 to 365 days 3.21   8,605   334   3.1   55   62.2   22.9   38.7  
21. More than 365 days 2.96   10,820   1,118   3.4   525   30.6   52.7   21.9  
 
Small domestic banks
22. During survey week 4.85   1,393   110   3.1   478   86.8   3.6   51.4  
23. Not under commitment 5.22   580   107   3.3   647   82.4   6.2   48.2  
24. Informal commitment 4.61   325   80   2.8   260   89.7   3.3   72.5  
25. Formal commitment 4.55   488   154   3.0   414   90.1   .6   41.1  
  Before survey week9  
26. Up to 90 days 4.64   462   104   3.4   193   88.5   5.4   68.7  
27. 91 to 365 days 4.92   714   92   3.2   23   87.4   2.3   77.9  
28. More than 365 days 4.24   283   114   3.3   12   84.7   7.1   66.5  
 
Foreign banks
29. During survey week 1.03   17,027   8,968   2.7   69   20.1   75.0   10.4  
30. Not under commitment .73   10,330   22,673   2.8   4   25.6   85.6   .2  
31. Informal commitment .87   3,688   8,801   2.7   16   6.4   98.5   .8  
32. Formal commitment 2.27   3,009   2,939   2.6   359   18.0   10.2   57.1  
  Before survey week9  
33. Up to 90 days 1.61   2,765   6,559   3.0   41   7.5   6.3   9.6  
34. 91 to 365 days 2.29   1,700   3,230   2.9   167   49.8   46.5   11.6  
35. More than 365 days 2.63   3,685   4,806   3.6   45   58.1   52.7   10.9  
... 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   3.42   3.41   3.47   3.23  
Standard error of loan rate4 .25   .17   .18   .11   .32  

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 September 30, 2011, assets of the large banks were at least $4.3 billion. Median total assets for all insured banks were roughly $148 million. Assets at all U.S. branches and agencies averaged $9.2 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: December 21, 2011