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Statistical Supplement | August 2006

Statistical Supplement to the Federal Reserve Bulletin, August 2006
4.23  Terms of Lending at Commercial Banks, Survey of Loans Made, May 1-5, 2006--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 6.23 52,561 960 2.4 117 20.3 42.3 13.5
2 Not under commitment 5.99 16,383 662 2.7 86 26.1 20.5 14.4
3 Informal commitment 5.67 22,283 1,390 2.0 101 9.8 77.0 5.2
4 Formal commitment 7.39 13,895 994 2.7 181 30.3 12.4 25.6
 
  Prior to survey week8  
5 Up to 90 days 6.30 15,360 505 3.1 94 30.7 9.6 26.8
6 91 to 365 days 6.21 21,054 331 3.0 83 60.3 20.4 39.1
7 More than 365 days 7.17 17,864 668 3.2 146 59.8 18.3 42.7
 
  Domestic banks  
8 During survey week 6.86 25,648 482 2.7 158 30.5 7.8 25.6
9 Not under commitment 6.09 11,986 494 2.6 113 27.6 6.4 19.3
10 Informal commitment 8.08 1,515 99 3.1 172 79.2 8.6 76.0
11 Formal commitment 7.46 12,147 886 2.8 201 27.4 9.1 25.5
 
  Prior to survey week8  
12 Up to 90 days 6.28 11,538 387 3.0 95 34.9 6.6 33.0
13 91 to 365 days 6.27 16,476 264 3.1 101 61.6 11.2 47.8
14 More than 365 days 7.23 15,135 590 3.3 167 64.0 15.2 46.0
 
  Large domestic banks  
15 During survey week 6.61 21,420 1,580 2.7 114 19.1 8.6 16.9
16 Not under commitment 5.82 10,423 1,109 2.6 65 17.9 6.8 13.3
17 Informal commitment 7.29 347 212 2.7 225 53.3 28.2 54.3
18 Formal commitment 7.36 10,650 4,219 2.7 158 19.1 9.6 19.3
 
  Prior to survey week8  
19 Up to 90 days 6.12 10,593 536 3.0 61 30.3 5.7 30.2
20 91 to 365 days 6.07 14,877 348 3.1 95 59.9 12.1 45.5
21 More than 365 days 7.18 13,911 828 3.3 163 63.2 15.9 44.7
 
  Small domestic banks  
22 During survey week 8.11 4,228 107 3.2 384 88.7 3.9 69.6
23 Not under commitment 7.90 1,564 105 3.0 437 91.8 3.3 59.4
24 Informal commitment 8.32 1,168 86 3.2 157 86.9 2.7 82.4
25 Formal commitment 8.15 1,496 134 3.3 506 86.7 5.5 70.2
 
  Prior to survey week8  
26 Up to 90 days 8.02 945 94 3.1 477 86.5 16.3 64.4
27 91 to 365 days 8.13 1,599 81 3.1 151 77.6 2.9 69.5
28 More than 365 days 7.72 1,224 139 3.5 205 72.6 7.4 60.9
 
  Foreign banks  
29 During survey week 5.63 26,913 17,833 2.1 78 10.5 75.2 1.9
30 Not under commitment 5.72 4,397 9,292 3.1 10 22.1 59.0 1.1
31 Informal commitment 5.50 20,768 26,729 1.9 96 4.7 82.0 .1
32 Formal commitment 6.92 1,748 6,748 2.4 40 50.1 35.3 26.1
 
  Prior to survey week8  
33 Up to 90 days 6.38 3,822 5,979 3.3 91 18.1 18.7 8.0
34 91 to 365 days 6.02 4,578 3,414 2.5 23 55.6 53.4 7.6
35 More than 365 days 6.85 2,729 2,448 2.9 30 36.6 35.0 24.4

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: August 28, 2006