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Statistical Supplement | May 2004

Statistical Supplement to the Federal Reserve Bulletin, May 2004
4.23  Terms of Lending at Commercial Banks, Survey of Loans Made, February 2-6, 2004--Continued B. Commercial and industrial loans made by all domestic banks1
Maturity/repricing interval2 and risk of loans3 Weighted-average effective loan rate (percent)4 Amount of loans (millions of dollars) Average loan size (thousands of dollars) Weighted-average maturity5 Percent of amount of loans (percent) Commitment status
Secured by collateral Subject to prepayment penalty Prime based Percent made under commitment Average months since loan terms set6
Days
Loan Risk  
1 All commercial and industrial loans 3.39 42,415 282 569 65.7 19.2 45.0 83.6 21.0
2 Minimal risk 2.23 1,251 378 365 83.6 44.8 23.6 90.4 20.4
3 Low risk 2.07 8,891 715 376 63.1 35.3 15.1 68.7 28.0
4 Moderate risk 3.40 14,677 320 734 60.0 20.1 44.8 86.3 17.3
5 Other 4.39 12,375 252 525 76.2 4.6 65.8 91.7 19.7
 
  By maturity/repricing interval  
6 Zero interval 3.73 13,723 197 530 66.5 8.3 57.5 75.6 14.8
7 Minimal risk 1.73 426 430 238 91.9 54.2 35.6 95.7 13.0
8 Low risk 1.99 3,753 753 150 45.4 1.0 18.6 31.7 16.7
9 Moderate risk 4.06 3,737 166 739 65.1 6.7 73.3 92.4 13.3
10 Other 4.85 4,865 175 641 77.6 1.7 74.3 91.9 17.2
 
11 Daily 2.76 10,096 374 450 64.7 32.3 39.5 80.0 29.0
12 Minimal risk 1.89 114 519 615 70.8 .6 88.1 88.4 .6
13 Low risk 1.67 2,812 1,604 430 86.7 83.1 8.7 98.9 40.5
14 Moderate risk 2.91 3,622 505 564 59.3 24.1 37.4 69.3 16.4
15 Other 4.03 1,184 221 204 60.7 1.2 54.0 76.3 18.9
 
16 2 to 30 days 3.07 8,674 448 517 67.1 20.3 37.0 94.5 19.0
17 Minimal risk 1.49 427 1,761 302 74.8 76.8 2.2 99.8 38.8
18 Low risk 2.15 1,323 893 608 55.8 36.5 13.6 94.3 17.5
19 Moderate risk 2.92 3,298 752 610 66.8 21.7 33.9 94.4 17.6
20 Other 4.07 2,702 274 403 76.8 6.6 59.2 95.5 13.2
 
21 31 to 365 days 3.63 5,763 331 367 68.9 14.8 42.0 91.1 27.7
22 Minimal risk 2.22 112 105 217 80.9 .1 18.2 44.0 20.4
23 Low risk 2.89 698 310 318 77.2 37.3 11.6 91.1 19.7
24 Moderate risk 3.60 2,134 321 373 61.8 8.4 45.7 87.6 31.0
25 Other 4.06 2,290 811 359 80.5 12.0 56.6 97.0 30.3
  Months  
26 More than 365 days 4.18 3,961 261 44 57.6 28.1 37.6 85.6 15.5
27 Minimal risk 5.50 171 223 29 95.2 .3 7.0 85.4 .6
28 Low risk 4.59 299 154 31 64.1 7.5 45.4 83.9 16.8
28 Moderate risk 3.61 1,819 391 55 36.0 51.1 19.0 91.0 10.6
30 Other 4.39 1,225 543 31 77.8 2.0 75.4 87.2 25.1
  Weighted-average risk rating3 Weighted-average maturity/
repricing interval2		  
  Days  
Size of Loan (thousands of dollars)  
31 1-99 5.08 2,785 3.4 185 85.6 6.6 74.1 83.8 12.9
32 100-999 4.27 8,611 3.4 112 74.3 7.0 73.0 90.9 15.4
33 1,000-9,999 3.55 14,321 3.3 114 62.8 13.3 47.1 89.5 20.5
34 10,000 or more 2.52 16,698 2.8 159 60.4 32.5 24.0 74.8 26.6
  Average size (thousands of dollars)  
Base Rate of Loan7  
35 Prime 4.36 19,103 3.6 83 73.5 4.4 174 91.3 18.6
36 Other 2.59 23,312 2.8 180 59.3 31.3 573 77.4 23.3

Note. The Survey of Terms of Business Lending collects data on gross loan extensions made during the first full business week in the mid-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. Note that 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.   Return to table

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. Owing to weekends and holidays, such loans may have "maturity/repricing" intervals in excess of one day; such loans are not included in the 2 to 30 day category.   Return to table

3. A complete description of these risk categories is available. 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 rating published for loans in rows 31-36 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.   Return to table

4. Effective (compounded) annual interest rates are calculated from the stated rate and other terms of the loans and weighted by loan amount. The standard error of the loan rate for all commercial and industrial loans in the current survey (line 1, column 1) is 0.23 percentage point. The chances are about two out of three that the average rate shown would differ by less than this amount from the average rate that would be found by a complete survey of the universe of all banks.   Return to table

5. Average maturities are weighted by loan amount and exclude loans with no stated maturities.   Return to table

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.   Return to table

7. Prime-based loans are based on the lending bank's own prime rate, any other lender's prime rate, a combination 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.   Return to table

8. For loans made under formal commitments.   Return to table

* The number of loans was insufficient to provide a meaningful value.

Statistical Supplement | May 2004 | Tips for printing wide tables | Symbols and Abbreviations

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Last update: January 10, 2006