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Statistical Supplement | February 2006

Statistical Supplement to the Federal Reserve Bulletin, February 2006
4.23  Terms of Lending at Commercial Banks, Survey of Loans Made, November 7-11, 2005--Continued C. Commercial and industrial loans made by large 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 6.07 29,784 419 646 55.3 12.6 45.3 88.0 13.3
2 Minimal risk 4.79 666 1,376 443 42.1 8.1 37.5 78.3 7.9
3 Low risk 5.04 3,721 1,204 514 21.8 17.2 19.3 75.2 15.8
4 Moderate risk 6.04 12,888 588 740 46.8 11.4 41.2 88.7 13.1
5 Other 6.55 8,066 296 520 84.4 6.2 56.1 94.6 14.9
 
  By maturity/repricing interval  
6 Zero interval 6.56 9,870 279 666 54.5 6.3 71.4 90.7 10.3
7 Minimal risk 5.01 155 813 516 47.2 3.0 63.6 98.6 7.6
8 Low risk 5.06 1,283 1,315 392 19.3 .4 23.6 90.7 10.6
9 Moderate risk 6.71 3,446 353 667 51.7 4.5 78.3 95.1 11.4
10 Other 7.25 2,570 197 773 75.1 1.4 78.9 87.7 10.4
 
11 Daily 5.89 6,675 410 572 45.1 17.6 41.6 73.8 15.6
12 Minimal risk 4.80 265 1,978 218 10.8 8.5 50.4 57.8 5.4
13 Low risk 4.89 1,404 1,109 342 15.6 18.5 22.9 48.9 28.1
14 Moderate risk 6.00 3,605 536 682 48.3 17.3 42.9 77.9 15.6
15 Other 6.89 628 142 492 88.7 6.7 47.2 87.1 10.6
 
16 2 to 30 days 5.63 6,668 506 720 50.7 13.6 19.4 96.0 11.0
17 Minimal risk 5.09 39 422 464 53.2 .0 39.4 96.2 4.9
18 Low risk 5.11 609 1,148 781 44.8 40.4 9.2 91.0 19.3
19 Moderate risk 5.43 3,820 1,020 795 38.9 5.3 15.3 96.1 10.9
20 Other 6.28 1,653 231 532 77.1 21.5 27.1 99.1 9.1
 
21 31 to 365 days 5.94 3,960 1,600 332 79.1 4.0 38.0 93.0 19.3
22 Minimal risk 4.76 75 1,800 448 35.5 36.0 2.6 64.0 6.3
23 Low risk 5.82 234 1,118 1,193 17.5 4.7 7.2 91.0 4.8
24 Moderate risk 6.14 889 1,256 507 61.1 4.3 9.4 87.3 22.6
25 Other 5.93 2,525 2,265 196 96.6 .2 54.3 99.7 20.5
  Months  
26 More than 365 days 6.12 2,262 1,170 36 61.8 32.9 30.7 84.5 16.8
27 Minimal risk * * * * * * * * *
28 Low risk 5.57 75 839 34 39.8 2.5 24.0 95.3 9.7
28 Moderate risk 6.07 1,094 1,494 37 40.7 40.9 33.9 80.0 12.1
30 Other 6.63 601 1,017 31 86.3 10.8 49.7 97.2 27.7
  Weighted-average risk rating3 Weighted-average maturity/
repricing interval2		  
  Days  
Size of Loan (thousands of dollars)  
31 1-99 7.14 1,406 3.6 38 87.6 11.4 71.1 91.4 8.5
32 100-999 6.88 5,868 3.4 71 75.6 10.0 72.5 93.5 10.8
33 1,000-9,999 6.27 10,762 3.3 151 59.0 11.8 46.7 92.7 14.4
34 10,000 or more 5.35 11,748 3.1 106 38.0 14.8 27.3 80.6 14.2
  Average size (thousands of dollars)  
Base Rate of Loan7  
35 Prime 6.94 13,493 3.5 72 68.3 6.0 266 93.5 11.2
36 Other 5.35 16,291 3.1 146 44.6 18.1 800 83.5 15.2

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 0.18 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: March 2, 2006