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Statistical Supplement | November 2006

Statistical Supplement to the Federal Reserve Bulletin, November 2006
4.23  Terms of Lending at Commercial Banks, Survey of Loans Made, August 7-11, 2006--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 7.30 49,581 316 573 46.9 12.2 38.8 77.5 12.0
2 Minimal risk 6.32 1,882 564 301 36.3 20.4 20.2 57.8 15.0
3 Low risk 6.72 5,634 518 567 45.1 13.7 27.2 76.9 15.1
4 Moderate risk 7.04 24,766 437 555 32.7 10.4 32.6 72.4 12.4
5 Other 8.37 10,096 200 590 74.5 7.6 52.5 92.7 12.0
 
  By maturity/repricing interval  
6 Zero interval 7.94 20,000 211 581 59.6 8.1 71.2 92.5 9.2
7 Minimal risk 6.98 513 494 466 46.7 26.8 45.8 90.0 9.4
8 Low risk 7.33 1,544 270 614 50.8 2.8 54.8 90.8 11.6
9 Moderate risk 7.78 9,118 268 506 47.4 4.4 65.8 93.8 9.1
10 Other 8.70 4,570 142 675 80.3 3.0 84.3 92.6 9.2
 
11 Daily 6.21 10,361 1,028 157 12.5 12.6 11.9 33.2 28.3
12 Minimal risk 5.53 704 4,880 5 .7 .0 1.3 1.6 31.8
13 Low risk 6.18 1,251 947 236 9.2 30.4 15.5 48.4 38.9
14 Moderate risk 6.09 7,467 1,545 151 7.8 12.0 8.5 29.3 29.8
15 Other 8.52 495 210 168 74.6 3.2 46.0 91.9 14.1
 
16 2 to 30 days 6.96 5,988 298 640 48.3 14.2 19.8 88.9 9.5
17 Minimal risk 6.81 65 270 761 71.9 .8 19.7 93.4 9.4
18 Low risk 6.63 699 471 477 38.0 19.4 15.5 85.1 9.8
19 Moderate risk 6.82 2,872 481 804 36.4 8.0 16.6 91.6 9.5
20 Other 7.51 1,314 139 458 72.7 18.4 22.7 97.4 11.3
 
21 31 to 365 days 7.18 8,956 524 557 51.2 14.8 11.7 88.8 14.3
22 Minimal risk 6.46 508 380 374 64.6 46.4 17.9 94.6 22.0
23 Low risk 6.24 1,454 1,183 359 65.0 8.3 4.3 92.1 13.2
24 Moderate risk 6.92 3,350 517 802 35.7 17.7 5.9 90.1 13.2
25 Other 8.30 2,764 735 356 64.8 9.3 20.4 94.1 15.6
  Months  
26 More than 365 days 7.79 4,084 288 50 61.4 22.0 37.2 75.2 9.5
27 Minimal risk 7.57 84 178 46 66.2 12.8 29.5 88.9 7.1
28 Low risk 7.81 551 527 60 77.7 7.4 58.2 48.9 6.2
28 Moderate risk 7.72 1,928 374 50 48.4 23.6 39.0 78.7 8.8
30 Other 8.06 938 362 42 77.0 12.3 38.4 82.4 15.2
  Weighted-average risk rating3 Weighted-average maturity/
repricing interval2		  
  Days  
Size of Loan (thousands of dollars)  
31 1-99 8.74 3,120 3.4 178 84.2 7.9 70.1 84.0 6.9
32 100-999 8.22 10,716 3.3 157 74.0 9.3 70.8 90.2 9.4
33 1,000-9,999 7.55 14,952 3.1 163 55.7 15.0 46.3 89.2 13.4
34 10,000 or more 6.44 20,792 2.9 80 21.0 12.3 12.3 61.6 13.6
  Average size (thousands of dollars)  
Base Rate of Loan7  
35 Prime 8.40 19,250 3.3 105 67.8 7.2 175 90.6 10.5
36 Other 6.61 30,330 3.0 143 33.6 15.4 649 69.3 13.3

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.

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: December 4, 2006