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Statistical Supplement | November 2004

Statistical Supplement to the Federal Reserve Bulletin, November 2004
4.23  Terms of Lending at Commercial Banks, Survey of Loans Made, August 2-6, 2004 A. Commercial and industrial loans made by all commercial 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 3.51 74,015 454 496 42.1 26.5 29.4 77.7 17.3
2 Minimal risk 2.48 2,219 640 421 36.4 12.5 16.7 82.4 5.1
3 Low risk 2.64 13,633 933 637 17.0 47.1 12.5 79.2 16.0
4 Moderate risk 3.29 23,693 500 568 47.5 23.9 29.5 83.4 16.3
5 Other 3.91 23,104 437 398 54.6 11.1 40.9 73.8 20.4
 
  By maturity/repricing interval  
6 Zero interval 4.52 13,304 178 641 68.1 6.9 69.2 90.8 14.3
7 Minimal risk 2.75 372 272 411 52.4 30.7 19.9 99.1 4.0
8 Low risk 3.96 1,337 283 629 45.6 1.4 38.5 97.2 14.7
9 Moderate risk 4.43 4,435 203 637 65.7 2.7 79.9 92.5 14.1
10 Other 4.92 5,071 180 739 72.4 2.7 79.0 86.4 15.4
 
11 Daily 2.56 24,657 840 202 29.8 29.7 16.1 63.5 24.2
12 Minimal risk 1.99 695 1,568 63 23.7 5.9 17.0 84.9 5.5
13 Low risk 1.99 5,729 2,377 293 4.4 55.7 4.6 65.1 32.4
14 Moderate risk 2.73 7,481 815 279 44.3 17.3 19.9 83.7 19.0
15 Other 2.74 6,612 1,090 59 36.8 14.1 8.2 44.0 17.6
 
16 2 to 30 days 3.07 15,479 708 475 36.6 31.3 17.8 78.2 11.3
17 Minimal risk 2.07 644 3,070 503 26.8 14.1 2.6 72.0 1.8
18 Low risk 2.32 3,068 1,507 689 14.0 54.1 6.2 95.5 5.1
19 Moderate risk 3.05 5,652 1,300 483 43.1 37.0 13.0 76.7 13.4
20 Other 3.93 4,203 366 296 51.1 17.5 35.4 70.3 12.6
 
21 31 to 365 days 4.18 16,236 705 533 41.7 34.6 23.4 87.7 18.2
22 Minimal risk 3.33 467 577 759 51.2 6.4 32.3 83.8 9.6
23 Low risk 3.29 3,082 810 919 23.4 47.0 18.4 82.0 7.0
24 Moderate risk 3.15 4,715 607 721 46.1 32.6 14.4 87.4 19.0
25 Other 3.83 5,276 1,349 293 60.6 13.1 40.9 94.1 30.7
  Months  
26 More than 365 days 4.99 3,999 336 58 50.4 23.2 44.9 77.6 14.3
27 Minimal risk 5.52 33 55 50 87.7 4.9 10.3 25.1 6.0
28 Low risk 5.55 335 208 114 66.9 31.2 39.3 78.3 2.4
28 Moderate risk 4.15 1,295 360 58 27.5 46.9 36.2 64.3 7.1
30 Other 5.57 1,806 861 43 57.2 3.3 62.9 94.9 21.1
  Weighted-average risk rating3 Weighted-average maturity/
repricing interval2		  
  Days  
Size of Loan (thousands of dollars)  
31 1-99 5.24 2,954 3.4 148 84.3 5.7 74.2 84.4 13.8
32 100-999 4.42 10,631 3.4 94 73.2 8.6 69.9 90.4 14.3
33 1,000-9,999 3.45 24,378 3.2 116 45.9 21.0 33.6 80.2 16.4
34 10,000 or more 3.13 36,052 3.1 94 26.9 37.2 11.0 71.7 19.5
  Average size (thousands of dollars)  
Base Rate of Loan7  
35 Prime 4.69 21,773 3.5 136 72.3 5.8 191 88.8 19.5
36 Other 3.01 52,242 3.1 90 29.5 35.2 1063 73.0 16.3

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. The data in this table also appear in the Board's E.2 statistical release, available on the Board's web site at: www.federalreserve.gov/releases.

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 | November 2004 | Tips for printing wide tables | Symbols and Abbreviations

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Last update: May 17, 2006