Board of Governors of the Federal Reserve System

Survey of Terms of Business Lending - E.2

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Release Date: September 25, 2012

E.2 Survey of Terms of Business Lending
AUGUST 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 2.28   74,649   599   493   43.9   51.1   24.2   70.5   9.4  
2. Minimal risk 1.20   6,155   2,172   241   15.7   67.1   5.7   50.4   2.7  
3. Low risk 2.00   13,558   864   444   23.6   39.4   17.7   93.5   9.2  
4. Moderate risk 2.62   24,755   427   692   49.3   42.1   31.6   81.7   10.9  
5. Other 2.64   20,489   524   481   68.1   48.2   28.3   60.1   9.2  
 
6. Zero interval 3.53   21,182   373   898   64.9   23.0   60.5   95.6   12.1  
7. Minimal risk 2.86   767   883   841   66.4   14.0   36.9   89.5   9.0  
8. Low risk 3.01   2,382   491   838   53.7   10.8   60.5   90.4   13.1  
9. Moderate risk 3.22   10,138   396   929   61.5   26.9   53.3   97.3   13.5  
10. Other 4.15   7,031   322   892   71.1   20.8   70.1   95.4   10.4  
 
11. Daily 1.01   24,465   3,917   51   25.9   76.2   5.0   33.3   7.0  
12. Minimal risk .65   3,859   10,086   7   1.8   87.1   .9   27.8   .1  
13. Low risk 1.59   4,525   2,840   70   5.0   49.6   7.5   99.8   10.8  
14. Moderate risk 1.43   3,852   1,388   177   18.2   70.6   16.1   43.1   3.3  
15. Other .84   7,699   6,072   33   68.8   75.3   2.9   10.8   3.5  
 
16. 2 to 30 days 2.15   16,625   393   385   42.1   53.9   16.4   77.4   7.5  
17. Minimal risk .79   588   7,203   397   3.1   69.2   .0   100.0   1.1  
18. Low risk 1.78   3,863   617   489   30.1   43.2   11.7   85.4   6.3  
19. Moderate risk 2.24   6,512   299   469   49.2   47.4   20.6   74.6   8.3  
20. Other 3.03   3,363   288   284   58.4   47.5   14.7   77.5   8.8  
 
21. 31 to 365 days 2.54   9,720   900   668   39.2   49.4   6.4   95.5   7.9  
22. Minimal risk 2.05   759   792   456   25.3   33.0   2.0   92.4   1.1  
23. Low risk 1.97   2,549   1,228   659   13.8   45.7   4.2   98.3   6.7  
24. Moderate risk 2.61   3,522   811   693   42.9   49.7   5.9   94.0   10.6  
25. Other 3.23   1,989   944   868   66.3   46.2   3.5   96.6   7.6  
  Months  
26. More than 365 days 3.89   2,595   332   52   70.3   34.9   24.9   78.3   10.1  
27. Minimal risk 3.58   177   353   43   99.0   1.3   8.4   27.2   11.7  
28. Low risk 3.34   228   285   49   79.0   3.1   25.7   85.0   13.6  
29. Moderate risk 4.15   714   209   56   75.7   18.6   33.2   71.9   12.0  
30. Other 4.64   381   219   56   90.8   23.3   17.2   60.3   10.5  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 4.19   3,001   3.2   108   92.8   8.7   64.6   67.9   7.3  
32. 100 - 999 3.73   10,730   3.2   95   84.3   19.1   61.1   81.3   10.8  
33. 1,000 - 9,999 2.84   17,921   3.0   113   54.1   38.4   31.9   90.3   10.9  
34. 10,000+ 1.55   42,997   2.8   35   26.1   67.4   9.0   59.8   8.1  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.30   18,077   3.2   56   71.1   8.8   236   84.2   11.1  
36. Other 1.63   56,573   2.9   68   35.2   64.7   1,181   66.1   8.7  
... 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 3.21   39,169   324   763   62.0   23.1   42.1   87.6   11.2  
2. Minimal risk 2.27   1,511   613   559   53.7   8.5   23.1   56.5   8.5  
3. Low risk 2.58   8,312   546   484   37.1   5.9   26.7   89.8   13.9  
4. Moderate risk 3.15   16,993   298   858   62.1   25.1   43.4   87.0   11.6  
5. Other 3.85   9,913   262   837   78.8   25.6   53.1   89.5   9.6  
 
6. Zero interval 3.42   19,675   352   860   67.1   24.7   59.6   95.2   12.3  
7. Minimal risk 2.83   497   702   814   82.3   21.5   56.9   83.8   13.0  
8. Low risk 2.97   2,231   465   796   56.8   11.6   58.0   89.8   13.1  
9. Moderate risk 3.18   9,746   385   913   62.3   27.8   51.5   97.1   13.4  
10. Other 3.90   6,394   298   814   73.9   22.9   69.0   95.0   10.6  
 
11. Daily 2.57   4,267   743   221   19.5   8.8   27.4   83.2   14.8  
12. Minimal risk 1.26   496   1,378   45   14.3   .0   7.1   14.1   1.8  
13. Low risk 2.42   2,401   1,567   134   9.4   5.1   12.6   99.7   20.0  
14. Moderate risk 2.80   1,089   411   510   28.2   20.1   56.2   75.6   4.1  
15. Other 5.20   256   220   420   79.6   13.5   86.4   94.0   4.1  
 
16. 2 to 30 days 3.11   8,274   200   540   72.6   18.7   32.9   70.2   9.2  
17. Minimal risk 1.70   32   780   970   36.1   .1   .5   100.0   13.3  
18. Low risk 2.41   2,118   347   580   52.0   3.0   21.4   73.6   9.9  
19. Moderate risk 3.13   3,577   167   635   75.2   13.1   37.3   62.2   9.5  
20. Other 3.71   2,006   176   352   85.3   28.0   24.7   73.7   8.9  
 
21. 31 to 365 days 2.76   4,820   500   708   53.3   33.0   10.3   95.9   7.4  
22. Minimal risk 2.28   307   377   440   46.6   6.3   5.0   93.0   2.6  
23. Low risk 2.30   1,321   701   394   22.6   3.1   8.0   98.5   8.7  
24. Moderate risk 2.84   1,886   466   677   50.6   41.0   10.6   94.1   8.8  
25. Other 3.08   881   508   1,434   93.1   47.8   7.6   97.2   5.6  
  Months  
26. More than 365 days 4.00   2,075   273   53   78.2   31.7   15.7   72.8   7.8  
27. Minimal risk 3.58   177   353   43   99.0   1.3   8.4   27.2   11.7  
28. Low risk 3.34   228   285   49   79.0   3.1   25.7   85.0   13.6  
29. Moderate risk 4.15   678   200   56   74.4   14.6   30.0   70.5   9.2  
30. Other 4.74   350   207   58   93.2   16.8   13.3   56.7   5.7  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 4.19   2,976   3.2   108   93.0   8.6   65.0   67.6   7.4  
32. 100 - 999 3.76   10,232   3.2   94   86.4   17.9   62.6   80.7   10.8  
33. 1,000 - 9,999 3.08   13,101   3.1   122   65.1   27.6   38.6   93.9   11.2  
34. 10,000+ 2.69   12,860   2.7   69   32.2   25.9   23.9   91.2   12.1  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.25   16,472   3.2   34   75.1   8.7   217   82.7   10.7  
36. Other 2.47   22,697   2.9   141   52.5   33.4   506   91.0   11.5  
... 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 3.07   34,725   390   723   59.6   25.3   39.3   88.4   11.8  
2. Minimal risk 1.83   1,218   1,279   445   42.8   10.5   23.2   58.1   10.0  
3. Low risk 2.50   7,976   662   469   34.6   6.1   25.0   90.0   14.3  
4. Moderate risk 3.00   15,399   347   861   59.2   27.3   41.0   88.1   12.2  
5. Other 3.75   7,925   306   708   81.9   30.7   48.6   90.0   9.9  
 
6. Zero interval 3.32   17,479   421   884   67.2   27.4   55.5   95.9   12.7  
7. Minimal risk 2.54   455   736   738   80.7   23.5   52.9   82.3   14.2  
8. Low risk 2.91   2,131   520   830   55.0   12.1   56.0   89.3   13.6  
9. Moderate risk 3.09   8,955   449   947   60.3   30.0   48.4   98.3   13.9  
10. Other 3.82   5,235   369   813   80.2   27.1   62.5   95.7   10.5  
 
11. Daily 2.37   3,922   1,341   209   12.9   9.5   21.4   82.0   15.7  
12. Minimal risk 1.21   488   2,420   41   12.8   .0   5.5   12.6   2.0  
13. Low risk 2.38   2,356   2,387   131   7.7   5.1   10.9   99.9   20.2  
14. Moderate risk 2.60   962   668   533   20.2   22.5   51.5   72.7   4.0  
15. Other 4.71   92   355   604   48.3   37.4   63.8   87.4   3.5  
 
16. 2 to 30 days 3.11   7,942   203   551   71.6   19.4   32.8   69.7   9.4  
17. Minimal risk 1.68   32   1,051   971   35.4   .1   .0   100.0   13.5  
18. Low risk 2.40   2,099   357   581   51.6   2.8   21.4   73.4   10.1  
19. Moderate risk 3.10   3,442   169   662   74.4   13.6   37.2   62.1   9.8  
20. Other 3.84   1,842   175   353   84.3   30.4   24.4   71.4   9.1  
 
21. 31 to 365 days 2.44   4,145   1,065   509   46.8   37.2   8.6   97.8   8.3  
22. Minimal risk 1.61   213   3,225   498   24.5   8.6   .1   99.7   3.1  
23. Low risk 2.13   1,258   1,431   398   18.9   3.3   4.8   99.8   8.9  
24. Moderate risk 2.56   1,697   838   649   46.5   45.0   8.8   96.0   9.4  
25. Other 2.62   616   986   369   92.7   65.9   6.7   99.3   7.6  
  Months  
26. More than 365 days 3.46   1,224   772   49   65.9   45.6   11.3   92.0   9.9  
27. Minimal risk 2.96   31   1,111   41   94.5   7.4   47.5   90.8   19.9  
28. Low risk 2.96   124   625   39   66.1   5.1   28.1   93.3   20.6  
29. Moderate risk 3.02   341   568   52   50.7   19.4   17.3   87.5   13.6  
30. Other 4.45   138   462   52   87.6   10.7   21.1   82.7   9.7  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 3.82   2,151   3.2   27   94.5   9.9   65.3   62.9   8.4  
32. 100 - 999 3.58   8,543   3.2   56   86.4   20.1   60.9   80.5   11.8  
33. 1,000 - 9,999 2.97   11,906   3.1   84   62.5   29.7   37.2   95.9   11.9  
34. 10,000+ 2.67   12,125   2.7   54   31.8   27.4   21.4   91.2   12.0  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.19   13,639   3.2   18   75.5   9.9   246   82.3   11.4  
36. Other 2.34   21,086   2.8   92   49.4   35.3   626   92.4   12.0  
... 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 4.37   4,444   140   1,055   80.5   5.3   63.7   80.6   6.2  
2. Minimal risk 4.08   293   194   1,026   98.9   .3   22.7   49.8   1.4  
3. Low risk 4.43   336   106   815   94.5   1.9   66.2   85.7   4.6  
4. Moderate risk 4.52   1,594   126   829   89.8   4.7   66.7   76.1   4.7  
5. Other 4.25   1,988   166   1,337   66.7   5.3   71.1   87.4   8.1  
 
6. Zero interval 4.23   2,195   153   672   65.9   3.4   91.9   89.7   8.7  
7. Minimal risk 5.94   43   468   1,639   100.0   .0   99.3   99.8   2.4  
8. Low risk 4.38   100   144   248   96.3   .0   99.8   98.9   3.8  
9. Moderate risk 4.14   791   147   511   85.5   3.9   86.6   83.7   6.3  
10. Other 4.27   1,159   160   818   45.6   3.7   98.5   91.6   11.1  
 
11. Daily 4.88   344   122   353   94.1   .9   96.4   96.8   5.4  
12. Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
13. Low risk 4.43   45   83   311   96.9   2.5   98.5   90.6   12.0  
14. Moderate risk 4.31   127   105   389   88.7   1.5   91.7   97.5   4.7  
15. Other 5.48   163   181   334   97.2   .0   99.2   97.8   4.5  
 
16. 2 to 30 days 3.12   332   144   249   96.3   2.2   34.8   83.6   5.0  
17. Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
18. Low risk 4.08   19   88   322   98.3   23.8   22.7   100.0   .9  
19. Moderate risk 3.96   135   118   198   95.7   .6   38.7   63.9   2.5  
20. Other 2.23   164   190   332   96.9   1.2   27.7   99.2   7.1  
 
21. 31 to 365 days 4.73   675   117   1,880   93.4   7.5   20.6   84.5   1.4  
22. Minimal risk 3.80   94   126   307   96.6   1.0   16.1   77.8   1.1  
23. Low risk 5.76   63   63   302   97.1   .0   71.3   73.0   4.3  
24. Moderate risk 5.33   188   93   908   87.9   4.3   26.3   77.4   1.9  
25. Other 4.14   265   239   3,829   93.9   5.8   9.8   92.3   .7  
  Months  
26. More than 365 days 4.76   851   142   59   95.9   11.6   21.9   45.3   1.0  
27. Minimal risk 3.70   146   309   44   100.0   .0   .1   13.8   .3  
28. Low risk 3.79   104   173   61   94.5   .6   22.8   75.2   3.1  
29. Moderate risk 5.30   337   121   61   98.4   9.8   42.8   53.2   .2  
30. Other 4.93   213   153   61   96.9   20.7   8.3   39.9   .2  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 5.15   825   3.3   324   89.2   5.2   64.0   79.9   5.3  
32. 100 - 999 4.63   1,689   3.3   289   86.1   6.6   71.1   81.7   5.7  
33. 1,000 - 9,999 4.19   1,196   3.2   505   91.5   6.8   52.4   73.7   2.2  
34. 10,000+ ...   ...   ...   ...   ...   ...   ...   ...   ...  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.51   2,832   3.4   112   73.1   3.3   137   85.0   7.7  
36. Other 4.11   1,612   3.0   785   93.6   8.8   144   72.8   2.9  
... 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 1.25   35,480   9,560   231   23.9   82.1   4.5   51.7   6.1  
2. Minimal risk .85   4,643   12,586   142   3.3   86.2   .0   48.4   .5  
3. Low risk 1.08   5,246   11,123   390   2.4   92.4   3.6   99.4   2.5  
4. Moderate risk 1.48   7,762   7,611   380   21.4   79.2   5.7   70.0   9.0  
5. Other 1.50   10,576   8,445   188   58.0   69.3   5.1   32.6   8.2  
 
6. Zero interval 4.91   1,507   1,763   1,374   35.9   1.0   73.5   100.0   10.2  
7. Minimal risk 2.92   269   1,686   888   37.0   .0   .0   100.0   2.7  
8. Low risk 3.61   151   2,800   1,314   7.9   .0   97.7   100.0   13.0  
9. Moderate risk 4.20   393   1,678   1,304   40.8   3.8   97.9   100.0   16.2  
10. Other 6.63   637   1,581   1,641   42.3   .0   81.5   100.0   8.5  
 
11. Daily .68   20,198   39,964   20   27.2   90.4   .2   22.8   1.1  
12. Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
13. Low risk .64   2,123   34,957   3   .0   99.9   1.8   99.9   .3  
14. Moderate risk .89   2,763   22,062   86   14.2   90.5   .2   30.4   2.6  
15. Other .69   7,443   70,394   21   68.5   77.5   .0   7.9   3.2  
 
16. 2 to 30 days 1.19   8,351   8,475   281   11.9   88.8   .1   84.5   6.2  
17. Minimal risk .73   556   13,719   366   1.2   73.1   .0   100.0   .4  
18. Low risk 1.01   1,744   10,526   408   3.5   92.0   .0   99.6   3.0  
19. Moderate risk 1.16   2,935   8,777   341   17.6   89.1   .3   89.7   7.4  
20. Other 2.02   1,357   4,258   222   18.5   76.4   .0   83.1   8.7  
 
21. 31 to 365 days 2.32   4,900   4,254   629   25.3   65.5   2.5   95.1   8.3  
22. Minimal risk 1.89   452   3,140   467   10.9   51.2   .0   92.0   .1  
23. Low risk 1.62   1,227   6,418   926   4.3   91.6   .0   98.0   4.6  
24. Moderate risk 2.35   1,636   5,595   710   33.9   59.8   .5   93.8   12.7  
25. Other 3.36   1,108   2,985   428   44.9   44.8   .3   96.1   9.2  
  Months  
26. More than 365 days 3.45   520   2,461   48   38.6   47.5   61.7   100.0   16.8  
27. Minimal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
28. Low risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
29. Moderate risk 4.02   35   1,042   42   100.0   95.9   95.9   100.0   47.6  
30. Other 3.50   31   575   36   63.6   96.9   60.4   100.0   40.7  
Size of loan
($ thousands)		   Weighted-
average risk
rating3		 Weighted-
average
maturity/
repricing
interval2		  
  Days  
31. 7.5 - 99 4.12   25   3.3   129   65.8   12.3   21.9   99.2   4.8  
32. 100 - 999 3.17   498   3.0   126   41.3   43.9   29.8   93.3   10.4  
33. 1,000 - 9,999 2.20   4,820   3.0   88   24.2   67.9   13.8   80.4   9.9  
34. 10,000+ 1.06   30,137   2.9   21   23.5   85.1   2.6   46.4   4.9  
Base rate of loan7   Average size
($ thousands)		  
35. Prime8 4.90   1,605   3.3   284   30.4   9.7   2,294   99.0   14.0  
36. Other 1.08   33,876   2.9   19   23.6   85.6   11,249   49.5   5.3  
... 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 1.60   35,136   799   2.9   66   36.9   69.2   13.9  
2. Not under commitment 1.32   22,011   676   3.1   47   40.7   71.0   13.0  
3. Informal commitment .97   6,849   1,539   2.2   28   13.6   93.3   4.0  
4. Formal commitment 3.25   6,276   900   3.0   172   49.2   36.7   27.7  
  Before survey week9  
5. Up to 90 days 2.86   10,212   458   3.1   55   41.7   53.1   28.8  
6. 91 to 365 days 2.82   12,616   329   3.1   61   58.5   33.4   32.9  
7. More than 365 days 2.95   16,597   847   3.0   64   48.6   25.3   36.6  
 
Domestic banks
8. During survey week 3.62   9,121   216   2.9   233   77.4   14.1   49.7  
9. Not under commitment 3.57   4,876   152   2.8   201   77.9   8.8   58.3  
10. Informal commitment 4.06   503   124   2.8   279   92.3   11.2   51.8  
11. Formal commitment 3.61   3,742   616   3.1   269   74.7   21.5   38.2  
  Before survey week9  
12. Up to 90 days 3.40   6,656   306   3.1   61   60.0   36.1   42.6  
13. 91 to 365 days 2.97   10,286   272   3.1   53   64.7   27.2   38.0  
14. More than 365 days 3.03   13,018   693   2.9   41   49.8   19.5   39.5  
 
Large domestic banks
15. During survey week 3.35   7,234   252   2.9   123   73.1   16.0   50.8  
16. Not under commitment 3.33   4,013   156   2.8   54   74.4   9.0   60.2  
17. Informal commitment 3.45   200   232   2.9   279   99.0   8.5   34.6  
18. Formal commitment 3.37   3,020   1,429   3.1   205   69.6   25.8   39.4  
  Before survey week9  
19. Up to 90 days 3.22   5,857   376   3.1   46   56.3   40.3   38.3  
20. 91 to 365 days 2.87   9,362   321   3.0   54   62.7   29.7   35.1  
21. More than 365 days 2.98   12,273   789   2.9   42   51.0   20.4   36.2  
 
Small domestic banks
22. During survey week 4.64   1,887   141   3.0   654   94.0   7.0   45.3  
23. Not under commitment 4.71   863   138   2.9   884   94.2   7.7   49.3  
24. Informal commitment 4.47   302   95   2.8   280   87.8   13.0   63.2  
25. Formal commitment 4.63   722   182   3.3   536   96.4   3.6   33.0  
  Before survey week9  
26. Up to 90 days 4.70   799   130   3.2   171   87.4   5.5   74.3  
27. 91 to 365 days 3.96   924   106   3.5   47   85.8   1.9   67.9  
28. More than 365 days 3.94   745   232   3.7   15   31.1   4.7   95.4  
 
Foreign banks
29. During survey week .89   26,014   14,039   2.8   7   22.7   88.5   1.3  
30. Not under commitment .68   17,134   30,264   3.2   4   30.1   88.7   .1  
31. Informal commitment .72   6,346   16,213   2.1   9   7.3   99.8   .2  
32. Formal commitment 2.72   2,534   2,830   2.9   30   11.5   59.0   12.3  
  Before survey week9  
33. Up to 90 days 1.85   3,557   6,615   2.9   44   7.5   85.0   2.8  
34. 91 to 365 days 2.17   2,330   4,709   3.0   96   30.8   60.7   10.4  
35. More than 365 days 2.67   3,579   4,335   3.1   150   44.2   46.6   25.8  
... 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   3.37   3.52   3.22  
Standard error of loan rate4 .24   .12   .13   .23   .51  

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 June 30, 2012, assets of the large banks were at least $4.5 billion. Median total assets for all insured banks were roughly $153 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: September 25, 2012