FRB: November 2007 Statistical Supplement--Terms of Lending at Commercial Banks, Survey of Loans Made, August 6-10, 2007--Continued

Statistical Supplement | November 2007

Statistical Supplement to the Federal Reserve Bulletin, November 2007

4.23 Terms of Lending at Commercial Banks, Survey of Loans Made, August 6-10, 2007--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
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	Days	Secured by collateral	Subject to prepayment penalty	Prime based
	All commercial banks
1	During survey week	6.80	39,452	815	2.6	110	23.9	33.4	12.6
2	Not under commitment	6.42	15,500	626	2.6	157	25.2	32.4	11.2
3	Informal commitment	6.88	17,815	1,134	2.3	29	12.5	38.6	8.6
4	Formal commitment	7.48	6,137	776	3.2	225	53.9	21.1	27.9

	Prior to survey week⁸
5	Up to 90 days	7.30	8,980	301	3.0	121	46.5	14.3	49.5
6	91 to 365 days	7.34	14,162	315	3.0	133	50.1	17.0	35.3
7	More than 365 days	6.99	17,701	741	3.1	91	43.5	15.7	25.1

	Domestic banks
8	During survey week	7.09	15,016	327	2.8	254	50.1	9.0	28.4
9	Not under commitment	6.58	9,564	396	2.5	247	38.1	4.7	17.8
10	Informal commitment	8.43	1,725	122	3.6	95	89.9	1.8	76.0
11	Formal commitment	7.76	3,728	485	3.2	345	62.4	23.2	33.6

	Prior to survey week⁸
12	Up to 90 days	7.39	7,801	266	3.1	134	50.0	7.9	54.8
13	91 to 365 days	7.34	10,427	237	3.0	167	54.6	9.2	45.7
14	More than 365 days	7.06	14,447	639	3.2	104	41.4	8.6	28.8

	Large domestic banks
15	During survey week	6.62	9,973	838	2.8	113	28.9	10.3	20.3
16	Not under commitment	6.25	7,012	865	2.7	81	17.9	5.2	17.6
17	Informal commitment	7.41	284	135	3.1	39	63.6	7.1	38.6
18	Formal commitment	7.51	2,676	1,596	3.1	204	54.2	24.2	25.4

	Prior to survey week⁸
19	Up to 90 days	7.23	6,780	343	3.0	122	44.9	7.2	53.0
20	91 to 365 days	7.20	9,413	323	3.0	174	52.1	9.8	43.1
21	More than 365 days	7.02	13,532	908	3.2	109	41.4	8.9	27.5

	Small domestic banks
22	During survey week	8.00	5,044	148	2.8	534	91.9	6.2	44.4
23	Not under commitment	7.47	2,552	159	2.0	702	93.6	3.3	18.2
24	Informal commitment	8.64	1,440	120	3.7	106	95.1	.8	83.4
25	Formal commitment	8.41	1,051	175	3.4	706	83.4	20.6	54.4

	Prior to survey week⁸
26	Up to 90 days	8.40	1,021	106	3.1	219	84.3	12.9	67.0
27	91 to 365 days	8.61	1,014	68	3.2	100	77.7	3.1	70.5
28	More than 365 days	7.66	915	118	3.2	33	41.0	4.4	48.1

	Foreign banks
29	During survey week	6.62	24,435	9,981	2.4	21	7.8	48.5	2.9
30	Not under commitment	6.16	5,936	9,478	2.8	12	4.3	77.0	.5
31	Informal commitment	6.72	16,090	10,134	2.1	22	4.2	42.5	1.3
32	Formal commitment	7.05	2,409	10,293	3.0	38	40.6	17.8	19.2

	Prior to survey week⁸
33	Up to 90 days	6.76	1,179	2,911	2.8	31	23.6	56.2	14.1
34	91 to 365 days	7.35	3,735	4,507	2.9	38	37.4	38.7	6.0
35	More than 365 days	6.68	3,255	2,590	2.7	32	52.7	47.1	8.4

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.

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 0.19 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.

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.

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.

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 27, 2007