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Statistical Supplement | November 2005

Statistical Supplement to the Federal Reserve Bulletin, November 2005
4.23  Terms of Lending at Commercial Banks, Survey of Loans Made, August 1-5, 2005--Continued F. 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 of dollars) Average loan size (thousands of dollars) Weighted-average risk rating3 Weighted-average maturity repricing interval2 Percent of amount of loans
Days Secured by collateral Subject to prepayment penalty Prime based
  All commercial banks  
1 During survey week 5.22 38,690 623 3.0 138 26.7 26.8 17.8
2 Not under commitment 4.62 19,227 704 3.1 61 21.6 39.8 7.6
3 Informal commitment 4.76 9,608 375 3.0 48 22.4 14.5 17.4
4 Formal commitment 6.86 9,856 1,080 2.9 374 41.0 13.3 38.2
 
  Prior to survey week8  
5 Up to 90 days 5.14 11,520 331 3.1 190 54.2 19.6 45.0
6 91 to 365 days 5.38 14,630 308 3.0 94 56.4 16.1 44.5
7 More than 365 days 5.14 19,164 767 3.1 96 43.7 30.4 33.6
 
  Domestic banks  
8 During survey week 5.84 18,816 320 2.9 223 39.4 10.6 31.6
9 Not under commitment 4.70 9,505 365 2.7 118 22.6 6.2 15.3
10 Informal commitment 6.85 2,204 92 3.1 181 89.6 7.3 63.8
11 Formal commitment 7.03 7,107 814 3.2 375 46.2 17.4 43.4
 
  Prior to survey week8  
12 Up to 90 days 5.02 9,350 273 3.1 212 59.3 13.6 50.1
13 91 to 365 days 5.42 12,229 264 3.0 101 63.4 14.7 48.4
14 More than 365 days 5.37 13,801 581 3.0 112 55.0 22.5 44.0
 
  Large domestic banks  
15 During survey week 5.56 14,568 1,064 2.9 214 24.3 12.7 23.8
16 Not under commitment 4.39 8,453 1,041 2.7 73 14.1 6.4 10.0
17 Informal commitment 5.94 447 149 3.1 126 78.8 16.9 56.1
18 Formal commitment 7.26 5,668 2,202 3.2 431 35.1 21.7 41.8
 
  Prior to survey week8  
19 Up to 90 days 4.85 8,506 327 3.1 214 56.9 13.8 47.2
20 91 to 365 days 5.35 11,610 327 3.0 101 62.5 15.3 47.8
21 More than 365 days 5.35 13,286 756 3.0 112 54.3 23.2 43.4
 
  Small domestic banks  
22 During survey week 6.79 4,247 94 3.0 252 91.2 3.4 58.3
23 Not under commitment 7.21 1,052 59 2.8 480 91.0 4.8 57.8
24 Informal commitment 7.08 1,758 84 3.1 195 92.3 4.9 65.7
25 Formal commitment 6.13 1,438 234 3.2 154 90.0 .4 49.6
 
  Prior to survey week8  
26 Up to 90 days 6.79 844 103 3.3 198 83.8 10.9 79.3
27 91 to 365 days 6.73 620 57 2.8 88 78.6 2.7 61.0
28 More than 365 days 5.79 515 83 2.8 99 72.5 4.7 58.6
 
  Foreign banks  
29 During survey week 4.65 19,874 6,009 3.1 57 14.7 42.1 4.8
30 Not under commitment 4.53 9,722 7,592 3.5 5 20.5 72.6 .0
31 Informal commitment 4.14 7,404 4,547 3.0 9 2.3 16.6 3.6
32 Formal commitment 6.41 2,749 6,894 2.1 372 27.4 2.8 24.9
 
  Prior to survey week8  
33 Up to 90 days 5.63 2,170 3,886 3.0 92 32.2 45.6 23.2
34 91 to 365 days 5.22 2,401 2,176 3.1 61 21.1 23.5 24.3
35 More than 365 days 4.55 5,363 4,270 3.5 54 14.4 50.8 6.7

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.

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 on the Board's website under Reporting Forms. 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 0.22 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.

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Last update: December 8, 2005