Board of Governors of the Federal Reserve System

Survey of Terms of Business Lending - E.2

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Release Date: December 23, 2014

E.2 Survey of Terms of Business Lending
NOVEMBER 3-7, 2014

1. Commercial and industrial loans made by all commercial banks 1
Maturity/repricing
interval 2 and
risk 3 of loans
Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity 5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
Made under
participation
or syndication 7
Percent
made under
commitment
Average
months
since loan
terms set 8
 Days 
1.  All C&I loans 2.26 96,528 661 769 39.9 25.3 17.2 0.4 53.0 83.9 16.3
Minimal risk 1.77 1,526 641 495 52.0 12.9 23.4 2.6 34.2 79.9 16.6
Low risk 1.52 19,478 1,253 572 21.7 30.3 11.2 0.1 38.7 74.5 15.6
Moderate risk 2.23 48,794 781 858 38.7 21.7 13.6 0.2 60.9 86.7 17.3
Other 2.89 21,857 419 704 53.2 27.0 24.8 1.1 46.2 83.8 13.4
 
2.  Zero interval 3.00 24,930 429 845 56.7 23.0 45.7 0.2 45.4 95.0 15.6
Minimal risk 1.92 672 1,085 407 68.2 22.7 46.8 0.0 33.6 72.2 17.1
Low risk 2.25 3,307 637 761 45.3 29.0 37.9 0.1 42.2 81.4 17.1
Moderate risk 2.73 12,248 508 889 49.2 21.3 40.2 0.1 50.5 98.6 17.0
Other 3.70 7,768 309 841 72.6 25.8 53.8 0.5 38.9 96.7 13.2
 
3.  Daily 1.04 14,269 2,132 208 32.3 45.3 3.7 0.4 21.7 38.7 12.4
Minimal risk 1.86 167 401 981 40.3 0.6 11.7 0.2 47.5 73.9 1.4
Low risk 0.71 4,186 2,517 41 6.8 39.7 2.5 0.0 10.7 21.4 15.9
Moderate risk 0.96 6,682 2,950 315 51.9 56.2 2.9 0.1 30.4 45.2 14.6
Other 1.58 3,124 1,484 168 23.6 31.8 6.3 1.7 17.3 45.3 7.0
 
4.  2 to 30 days 2.13 42,542 837 856 31.4 18.3 6.8 0.0 64.3 90.1 17.1
Minimal risk 1.05 297 1,517 275 16.5 6.4 1.6 0.6 19.3 99.0 22.4
Low risk 1.52 9,729 1,779 712 19.0 24.4 4.6 0.0 47.4 92.3 15.1
Moderate risk 2.24 23,241 878 985 29.0 12.2 4.3 0.0 75.1 91.1 18.8
Other 2.40 7,822 509 640 45.5 30.3 8.0 0.1 55.4 82.7 15.8
 
5.  31 to 365 days 2.35 9,860 663 737 37.8 19.9 6.9 1.2 59.4 91.8 13.9
Minimal risk 1.66 277 331 356 52.8 5.0 2.4 2.2 31.9 75.0 13.4
Low risk 1.55 1,636 729 472 12.9 37.9 4.7 0.4 45.3 89.5 14.7
Moderate risk 2.26 5,079 1,018 722 36.5 18.9 2.0 1.2 59.1 91.2 15.2
Other 3.15 2,265 441 916 49.5 15.3 7.7 2.1 74.1 95.4 13.0
 Months 
6.  More than 365 days 3.43 3,941 339 49 64.7 44.1 25.2 3.8 68.4 88.7 14.6
Minimal risk 2.98 112 385 45 63.7 9.6 9.9 28.1 63.3 97.0 21.6
Low risk 3.17 616 633 42 62.7 44.5 48.4 2.8 55.6 78.2 18.6
Moderate risk 3.85 1,340 354 53 55.9 30.1 30.5 1.5 67.2 89.8 11.5
Other 4.10 848 235 48 64.3 22.8 25.5 9.5 60.7 86.2 7.6
Size of loan
($ thousands)
  Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
 
7.  10 - 99 3.71 3,422 3.3 158 90.5 6.5 52.3 1.4 21.6 77.6 8.2
8.  100 - 999 3.34 12,985 3.2 116 81.2 13.2 47.8 1.0 23.2 84.1 11.5
9.  1,000 - 9,999 2.56 26,588 3.1 99 46.8 25.9 23.8 0.6 57.9 91.5 15.5
10.  10,000+ 1.76 53,534 2.9 49 23.2 29.0 4.3 0.1 59.8 80.5 18.3
Base rate of loan 9   Average
loan size
($ thousands)
 
11.  Prime 10 4.01 16,613 3.2 97 74.7 6.3 226 0.9 42.1 85.7 13.5
12.  Other 1.90 79,914 3.0 72 32.6 29.2 1,100 0.3 55.3 83.6 16.8

2. Commercial and industrial loans made by domestic banks 1
Maturity/repricing
interval 2 and
risk 3 of loans
Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity 5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
Made under
participation
or syndication 7
Percent
made under
commitment
Average
months
since loan
terms set 8
 Days 
1.  All C&I loans 2.62 71,199 499 925 43.8 11.9 21.9 0.6 58.2 93.5 17.2
Minimal risk 1.73 1,216 576 386 55.7 15.4 29.4 3.3 28.1 82.6 18.1
Low risk 1.86 12,697 846 730 31.1 11.6 15.5 0.2 42.4 87.7 18.6
Moderate risk 2.53 38,707 631 1,029 37.3 9.9 15.9 0.3 68.1 95.7 18.1
Other 3.38 15,419 303 844 63.5 17.8 33.5 1.5 49.5 93.2 15.3
 
2.  Zero interval 2.98 24,623 426 841 56.7 23.3 45.2 0.2 45.0 94.9 15.5
Minimal risk 1.92 672 1,085 407 68.2 22.7 46.8 0.0 33.6 72.2 17.1
Low risk 2.25 3,269 633 765 45.0 29.3 37.7 0.1 42.0 81.2 17.1
Moderate risk 2.72 12,091 505 884 49.2 21.6 39.5 0.1 50.0 98.5 16.8
Other 3.68 7,655 307 835 72.7 26.2 53.2 0.5 38.2 96.6 13.1
 
3.  Daily 2.15 3,181 523 849 34.6 1.9 16.3 1.9 62.1 94.5 18.2
Minimal risk 2.33 44 157 299 99.4 2.1 44.1 0.9 0.1 99.3 4.0
Low risk 1.83 499 319 340 56.7 3.6 21.3 0.2 39.7 97.7 26.1
Moderate risk 1.82 2,010 961 1,059 19.8 0.3 9.4 0.3 80.2 95.1 19.5
Other 3.59 569 299 494 55.5 6.0 34.7 9.6 29.2 97.5 8.2
 
4.  2 to 30 days 2.34 33,979 685 974 35.0 5.2 8.5 0.1 67.9 92.9 19.0
Minimal risk 0.86 239 1,655 143 9.6 3.7 1.9 0.8 9.8 98.8 27.9
Low risk 1.67 7,417 1,422 742 23.2 2.5 6.1 0.0 43.9 91.1 18.5
Moderate risk 2.42 19,766 759 1,107 30.9 4.0 5.1 0.0 78.7 94.3 19.6
Other 2.79 5,154 346 822 55.6 11.5 12.2 0.2 65.7 88.5 19.6
 
5.  31 to 365 days 2.59 6,879 484 796 38.2 8.8 7.8 1.8 59.9 94.9 16.1
Minimal risk 1.89 212 277 423 64.9 6.6 3.1 2.9 40.3 91.5 14.4
Low risk 1.71 1,101 511 406 18.7 18.5 4.7 0.6 38.3 86.8 20.3
Moderate risk 2.53 3,638 766 885 35.1 9.0 1.2 1.7 66.8 96.8 15.8
Other 3.54 1,421 289 831 43.2 4.1 11.4 3.3 63.4 96.1 17.9
 Months 
6.  More than 365 days 3.69 2,246 201 51 68.6 13.6 17.6 6.7 44.5 80.2 11.6
Minimal risk 2.18 48 174 38 28.8 22.4 23.1 65.3 14.8 93.1 7.3
Low risk 2.82 406 449 46 64.9 25.7 31.6 4.3 32.8 67.0 16.4
Moderate risk 3.85 999 269 54 68.8 10.0 11.2 1.9 56.0 86.4 13.4
Other 3.96 590 172 48 70.2 9.3 14.2 13.7 43.5 80.2 7.8
Size of loan
($ thousands)
  Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
 
7.  10 - 99 3.71 3,408 3.3 158 90.7 6.5 52.4 1.4 21.5 77.6 8.2
8.  100 - 999 3.36 12,512 3.3 112 82.5 12.3 48.5 1.0 21.3 83.8 11.4
9.  1,000 - 9,999 2.72 21,047 3.1 74 51.4 17.7 27.4 0.8 57.3 96.0 16.2
10.  10,000+ 2.18 34,231 2.9 36 20.4 8.7 5.8 0.2 75.8 97.0 20.4
Base rate of loan 9   Average
loan size
($ thousands)
 
11.  Prime 10 4.01 15,591 3.2 49 77.1 2.2 214 0.9 38.5 84.8 13.3
12.  Other 2.23 55,608 3.0 71 34.5 14.6 795 0.5 63.7 95.9 18.2

3. Commercial and industrial loans made by large domestic banks 1
Maturity/repricing
interval 2 and
risk 3 of loans
Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity 5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
Made under
participation
or syndication 7
Percent
made under
commitment
Average
months
since loan
terms set 8
 Days 
1.  All C&I loans 2.52 66,913 611 927 41.1 12.2 19.6 0.5 60.2 94.2 17.9
Minimal risk 1.62 1,045 1,065 378 49.0 17.6 31.8 3.8 25.5 81.2 18.8
Low risk 1.80 12,200 999 731 29.1 11.2 13.5 0.2 43.2 88.4 19.0
Moderate risk 2.44 36,813 783 1,033 35.0 10.2 14.1 0.2 70.2 96.1 18.8
Other 3.26 13,812 361 832 60.6 19.1 29.1 1.4 52.6 95.1 16.3
 
2.  Zero interval 2.89 22,657 532 843 54.5 25.2 42.7 0.2 46.9 95.7 16.4
Minimal risk 1.88 657 1,459 407 67.9 23.2 46.2 0.0 33.6 71.6 17.5
Low risk 2.19 3,106 716 781 45.0 30.8 36.2 0.1 43.2 80.2 17.9
Moderate risk 2.61 11,124 672 903 46.5 23.5 36.8 0.0 52.7 99.0 17.9
Other 3.61 6,893 369 808 70.6 29.0 50.2 0.6 39.8 99.3 13.6
 
3.  Daily 1.79 2,790 1,159 923 26.9 0.5 5.3 2.2 68.3 94.4 20.1
Minimal risk 2.14 39 201 264 99.4 2.4 37.1 1.0 0.2 99.2 4.4
Low risk 1.53 445 406 352 51.6 2.1 11.8 0.2 44.4 99.9 28.1
Moderate risk 1.62 1,870 2,592 1,113 14.8 0.2 3.5 0.3 85.3 94.8 20.5
Other 2.85 379 1,654 552 38.7 0.1 2.6 14.4 29.7 98.0 10.3
 
4.  2 to 30 days 2.32 33,499 730 982 34.1 5.2 7.9 0.1 68.6 93.0 19.2
Minimal risk 0.80 234 2,883 144 7.9 2.5 0.7 0.8 8.7 100.0 28.1
Low risk 1.66 7,363 1,505 745 22.7 2.5 5.9 0.0 43.9 91.3 18.5
Moderate risk 2.41 19,622 795 1,113 30.5 4.0 4.8 0.0 79.1 94.3 19.7
Other 2.74 4,879 373 847 53.4 12.1 9.1 0.2 68.7 88.3 20.5
 
5.  31 to 365 days 2.40 6,117 700 828 33.0 9.4 5.2 1.0 61.1 96.3 17.1
Minimal risk 1.55 77 359 600 6.6 18.1 1.1 8.0 28.6 87.8 9.9
Low risk 1.52 1,029 646 419 13.1 19.8 1.1 0.6 36.4 87.0 21.4
Moderate risk 2.35 3,343 1,192 921 31.7 9.7 0.6 1.0 66.9 98.0 16.7
Other 3.37 1,195 351 825 37.9 2.3 2.6 1.2 70.5 99.4 20.0
 Months 
6.  More than 365 days 3.38 1,572 249 44 56.4 7.2 12.2 9.2 53.7 89.6 14.7
Minimal risk 1.90 37 926 29 7.8 29.3 30.1 85.3 6.9 99.5 8.2
Low risk 2.60 253 888 46 45.6 4.7 10.6 6.8 50.2 92.6 19.1
Moderate risk 3.42 655 435 41 54.2 4.5 7.6 2.4 71.8 92.2 18.8
Other 3.64 444 204 42 61.1 6.0 10.9 18.1 48.3 90.0 9.1
Size of loan
($ thousands)
  Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
 
7.  10 - 99 3.40 2,571 3.3 129 91.3 7.6 47.2 1.2 21.1 75.1 9.5
8.  100 - 999 3.18 10,435 3.3 68 82.2 14.1 45.4 0.9 20.8 83.5 12.9
9.  1,000 - 9,999 2.66 19,818 3.1 58 49.3 18.1 26.6 0.7 58.5 96.9 16.7
10.  10,000+ 2.18 34,089 2.9 32 20.0 8.5 5.5 0.2 76.1 97.3 20.4
Base rate of loan 9   Average
loan size
($ thousands)
 
11.  Prime 10 3.95 13,086 3.2 29 75.8 1.2 259 0.7 42.3 85.4 14.8
12.  Other 2.18 53,827 3.0 54 32.7 14.9 912 0.4 64.5 96.3 18.6

4. Commercial and industrial loans made by small domestic banks 1
Maturity/repricing
interval 2 and
risk 3 of loans
Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity 5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
Made under
participation
or syndication 7
Percent
made under
commitment
Average
months
since loan
terms set 8
 Days 
1.  All C&I loans 4.14 4,286 130 891 86.0 6.9 58.5 1.9 26.8 82.3 4.8
Minimal risk 2.40 171 152 438 96.4 1.7 14.7 0.0 44.1 91.0 14.3
Low risk 3.50 497 178 694 79.2 21.0 64.7 0.0 21.9 68.1 3.9
Moderate risk 4.23 1,895 132 929 83.6 4.5 50.3 2.2 27.8 89.0 3.8
Other 4.38 1,607 127 954 89.1 6.3 71.7 2.3 23.0 77.5 5.3
 
2.  Zero interval 4.04 1,966 129 811 81.8 0.6 73.3 0.5 22.2 86.1 4.9
Minimal risk 3.82 15 87 391 78.2 0.0 74.8 0.0 30.7 98.9 4.8
Low risk 3.33 163 198 298 45.0 0.7 66.1 0.0 19.4 100.0 4.2
Moderate risk 3.99 967 131 612 79.8 0.4 70.6 0.8 19.3 93.6 4.0
Other 4.29 763 121 1,120 91.3 0.8 80.2 0.2 23.8 72.5 6.8
 
3.  Daily 4.72 390 106 352 89.6 11.6 95.0 0.0 18.1 95.0 5.1
Minimal risk ... ... ... ... ... ... ... ... ... ... ...
Low risk 4.29 54 115 257 98.9 15.8 100.0 0.0 0.7 80.0 5.3
Moderate risk 4.46 140 102 338 87.0 2.2 87.9 0.0 11.9 98.7 7.0
Other 5.06 190 114 381 88.8 17.7 98.7 0.1 28.2 96.4 3.8
 
4.  2 to 30 days 3.72 480 130 403 94.4 2.5 54.1 0.2 21.3 87.9 4.9
Minimal risk ... ... ... ... ... ... ... ... ... ... ...
Low risk 2.96 54 167 301 88.6 3.7 32.1 0.0 44.4 59.8 3.7
Moderate risk 3.90 144 106 410 95.6 2.5 40.0 0.2 26.7 91.5 4.7
Other 3.76 274 150 426 94.8 1.2 65.6 0.3 12.2 92.3 5.1
 
5.  31 to 365 days 4.10 762 139 531 80.4 4.4 28.8 8.1 50.2 83.5 6.4
Minimal risk 2.08 135 245 316 98.0 0.0 4.3 0.0 46.9 93.6 16.8
Low risk 4.40 72 129 222 97.6 0.0 56.1 0.0 64.4 84.9 4.5
Moderate risk 4.53 295 152 476 72.8 1.2 8.2 9.8 66.1 83.9 3.9
Other 4.47 226 149 863 71.6 13.2 58.0 14.6 26.2 78.8 4.0
 Months 
6.  More than 365 days 4.40 675 139 68 96.9 28.5 30.2 0.9 23.2 58.3 0.7
Minimal risk 3.12 11 48 67 97.4 0.0 0.0 0.0 40.4 72.2 2.9
Low risk 3.19 153 247 45 96.7 60.5 66.3 0.1 3.9 24.8 0.1
Moderate risk 4.68 344 156 78 96.7 20.6 18.0 1.1 25.9 75.2 0.8
Other 4.92 146 117 66 97.5 19.5 24.5 0.0 29.1 50.3 0.3
Size of loan
($ thousands)
  Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
 
7.  10 - 99 4.66 837 3.3 245 88.5 3.0 68.4 1.9 22.7 85.1 4.7
8.  100 - 999 4.27 2,078 3.2 334 83.9 3.4 64.3 1.9 23.8 85.6 4.3
9.  1,000 - 9,999 3.81 1,229 3.3 331 86.1 10.6 40.0 2.0 37.8 81.2 5.7
10.  10,000+ ... ... ... ... ... ... ... ... ... ... ...
Base rate of loan 9   Average
loan size
($ thousands)
 
11.  Prime 10 4.32 2,506 3.4 149 83.8 7.4 113 2.0 18.9 81.6 5.0
12.  Other 3.88 1,780 3.1 589 89.1 6.0 163 1.7 37.9 83.2 4.5

5. Commercial and industrial loans made by U.S. branches and agencies of foreign banks 1
Maturity/repricing
interval 2 and
risk 3 of loans
Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity 5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
Made under
participation
or syndication 7
Percent
made under
commitment
Average
months
since loan
terms set 8
 Days 
1.  All C&I loans 1.25 25,329 7,598 354 28.7 62.8 4.0 0.0 38.6 57.2 11.8
Minimal risk 1.94 310 1,141 901 37.3 3.3 0.0 0.0 58.2 69.4 9.4
Low risk 0.89 6,781 12,577 307 4.1 65.1 3.2 0.0 31.8 49.9 5.9
Moderate risk 1.10 10,086 9,348 247 43.8 66.6 5.0 0.0 33.3 51.9 11.5
Other 1.72 6,438 5,129 400 28.4 49.1 3.9 0.0 38.1 61.1 6.6
 
2.  Zero interval 4.10 307 795 1,166 56.4 0.0 89.5 0.0 83.7 100.0 24.5
Minimal risk ... ... ... ... ... ... ... ... ... ... ...
Low risk 2.70 38 1,310 479 70.0 0.0 56.1 0.0 56.4 100.0 17.0
Moderate risk 3.72 157 965 1,269 48.7 0.0 95.7 0.0 88.0 100.0 29.3
Other 5.10 113 577 1,256 62.5 0.0 92.1 0.0 86.9 100.0 20.3
 
3.  Daily 0.72 11,089 18,103 58 31.7 57.7 0.0 0.0 10.1 22.7 5.4
Minimal risk 1.69 122 914 1,017 18.8 0.0 0.0 0.0 64.7 64.7 0.0
Low risk 0.56 3,687 37,331 20 0.0 44.6 0.0 0.0 6.8 11.1 3.6
Moderate risk 0.59 4,672 27,029 36 65.7 80.2 0.1 0.0 8.9 23.8 6.1
Other 1.13 2,555 12,459 101 16.5 37.5 0.0 0.0 14.7 33.7 6.2
 
4.  2 to 30 days 1.30 8,563 7,041 423 17.3 70.3 0.1 0.0 49.9 78.8 8.4
Minimal risk 1.84 58 1,130 817 44.6 17.7 0.0 0.0 58.5 100.0 0.0
Low risk 1.03 2,313 9,063 623 5.5 94.5 0.0 0.0 58.7 96.0 5.1
Moderate risk 1.19 3,475 7,978 334 18.2 58.6 0.0 0.0 54.4 72.5 12.8
Other 1.64 2,668 5,929 342 26.1 66.6 0.0 0.0 35.5 71.5 6.6
 
5.  31 to 365 days 1.81 2,981 4,564 599 36.8 45.5 4.7 0.0 58.3 84.6 8.4
Minimal risk 0.91 65 907 150 13.7 0.0 0.0 0.0 4.7 21.2 0.0
Low risk 1.22 534 6,038 615 1.2 77.8 4.8 0.0 59.7 95.1 4.3
Moderate risk 1.59 1,441 5,952 294 40.0 43.9 3.9 0.0 39.5 76.9 13.0
Other 2.49 844 3,880 1,059 60.1 34.2 1.6 0.0 92.0 94.3 4.6
 Months 
6.  More than 365 days 3.08 1,695 3,726 45 59.6 84.6 35.3 0.0 100.0 100.0 17.8
Minimal risk ... ... ... ... ... ... ... ... ... ... ...
Low risk 3.86 209 3,078 36 58.5 81.0 81.0 0.0 100.0 100.0 21.3
Moderate risk 3.85 341 5,182 52 17.9 88.8 86.9 0.0 100.0 100.0 6.6
Other 4.41 258 1,380 47 51.1 53.6 51.1 0.0 99.9 100.0 7.2
Size of loan
($ thousands)
  Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
 
7.  10 - 99 3.27 13 2.7 188 60.1 15.6 22.0 0.0 58.3 90.4 8.0
8.  100 - 999 2.92 473 3.1 240 45.4 36.9 27.8 0.0 74.1 90.0 13.7
9.  1,000 - 9,999 1.92 5,540 3.2 194 29.3 57.2 10.1 0.0 60.2 74.7 12.4
10.  10,000+ 1.02 19,303 2.9 74 28.1 65.1 1.7 0.0 31.5 51.3 11.4
Base rate of loan 9   Average
loan size
($ thousands)
 
11.  Prime 10 4.02 1,022 3.1 827 38.5 67.5 1,672 0.0 96.6 99.3 16.1
12.  Other 1.14 24,307 3.0 73 28.3 62.6 8,928 0.0 36.2 55.4 11.5

6. Commercial and industrial loans by date pricing terms were set and commitment status
Time pricing terms
were set and loan
commitment status
Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
Percent of value of loans
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
Made under
participation
or syndication 7
All commercial banks
1.  During survey week 1.98 26,297 620 3.0 76 41.6 42.5 13.8 0.6 21.3
Not under commitment 1.40 15,503 558 2.9 62 43.4 43.2 15.3 0.4 2.8
Informal commitment 1.52 3,226 514 2.8 53 29.1 71.2 10.9 0.9 14.1
Formal commitment 3.36 7,569 906 3.2 116 43.2 28.8 11.7 1.1 62.3
2.  Before survey week 11  
Up to 90 days 2.37 10,761 355 3.1 125 47.6 36.7 23.1 0.6 52.8
91 to 365 days 2.58 21,767 463 3.1 76 48.3 19.3 23.7 0.6 53.4
More than 365 days 2.24 37,690 1,442 3.0 62 31.6 13.4 14.2 0.1 75.0
 
Domestic banks
3.  During survey week 3.69 10,768 263 3.0 170 66.1 14.5 33.4 1.6 36.1
Not under commitment 3.26 4,654 171 2.8 194 77.4 20.9 51.0 1.2 9.3
Informal commitment 3.11 995 164 3.3 150 86.2 10.5 35.1 2.8 21.6
Formal commitment 4.20 5,119 657 3.1 151 51.8 9.4 17.0 1.6 63.2
4.  Before survey week 11  
Up to 90 days 2.70 7,730 259 3.1 102 61.6 15.7 29.4 0.8 48.7
91 to 365 days 2.62 19,244 415 3.1 50 47.6 15.2 24.9 0.7 50.0
More than 365 days 2.25 33,445 1,325 3.0 35 30.4 8.3 14.7 0.1 72.2
 
Large domestic banks
5.  During survey week 3.55 8,694 333 2.9 81 61.0 15.0 28.9 1.1 36.6
Not under commitment 3.03 3,893 179 2.7 105 74.9 21.5 49.1 0.6 3.4
Informal commitment 2.34 569 357 3.6 22 88.2 12.9 6.7 0.0 20.3
Formal commitment 4.19 4,232 1,531 3.1 66 44.6 9.4 13.4 1.8 69.3
6.  Before survey week 11  
Up to 90 days 2.58 7,085 288 3.1 90 59.2 16.8 26.3 0.8 51.9
91 to 365 days 2.52 17,952 503 3.1 45 45.1 16.3 22.0 0.7 52.3
More than 365 days 2.24 33,182 1,431 3.0 35 29.9 8.3 14.3 0.1 72.3
 
Small domestic banks
7.  During survey week 4.28 2,074 139 3.2 535 87.1 12.3 51.9 3.3 33.8
Not under commitment 4.43 761 140 3.4 650 90.1 18.2 60.7 4.5 39.3
Informal commitment 4.13 426 96 3.0 322 83.4 7.3 72.9 6.5 23.4
Formal commitment 4.22 887 177 3.0 540 86.4 9.7 34.2 0.7 34.2
8.  Before survey week 11  
Up to 90 days 4.06 646 123 3.4 239 87.2 4.4 63.3 1.1 14.5
91 to 365 days 4.02 1,291 121 3.3 114 82.2 0.6 66.3 0.4 16.9
More than 365 days 3.68 264 128 3.0 43 91.7 0.5 60.5 0.1 51.4
 
Foreign banks
9.  During survey week 0.80 15,529 11,033 2.9 12 24.6 61.9 0.2 0.0 11.1
Not under commitment 0.60 10,849 17,515 2.9 5 28.8 52.8 0.1 0.0 0.0
Informal commitment 0.82 2,231 10,131 2.6 10 3.6 98.2 0.1 0.0 10.8
Formal commitment 1.62 2,450 4,314 3.3 45 25.2 69.3 0.6 0.0 60.3
10.  Before survey week 11  
Up to 90 days 1.53 3,031 6,850 3.0 185 11.9 90.2 7.1 0.0 63.2
91 to 365 days 2.22 2,524 4,318 3.1 278 53.2 50.7 14.2 0.0 79.7
More than 365 days 2.14 4,245 4,720 3.0 316 41.2 53.7 10.0 0.0 97.4

7. Commercial and industrial loans backed by the SBA 6
Backed by SBA Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
Percent of value of loans
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
Made under
participation
or syndication 7
1.  All banks 3.58 415 207 3.3 388 45.5 22.3 35.6 32.0
2.  Domestic banks 3.58 415 207 3.3 388 45.5 22.3 35.6 32.0
3.  Large domestic banks 3.18 335 248 3.3 399 37.6 18.6 29.3 21.4
4.  Small domestic banks 5.26 81 124 3.5 342 78.4 37.5 61.7 75.8
5.  Foreign banks ... ... ... ... ... ... ... ... ...

8. Commercial and industrial loans made under participation or syndication 7
Loans made under participation Weighted-
average
effective
loan rate 4
(percent)
Total value
of loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average risk
rating 3
Weighted-
average
maturity/
repricing
interval 2
(days)
Percent of value of loans
Secured
by
collateral
Subject to
prepayment
penalty
Prime
based
SBA
backed 6
1.  All banks 2.44 51,187 1,417 3.1 89 31.7 18.2 13.7 0.3
2.  Domestic banks 2.52 41,406 1,218 3.1 49 30.7 7.7 14.5 0.3
3.  Large domestic banks 2.46 40,257 1,554 3.1 42 29.1 7.8 13.7 0.2
4.  Small domestic banks 4.56 1,149 142 3.2 272 89.3 4.4 41.2 5.3
5.  Foreign banks 2.12 9,781 4,615 3.0 271 35.8 62.9 10.1 0.0

Summary statistics All
commercial
banks
Domestic
banks
Large
domestic
banks
Small
domestic
banks
Foreign
banks
1.  Average reported prime rate 3.35 3.36 3.34 3.43 3.23
2.  Standard error of loan rate .14 .15 .14 .17 .25

The Survey of Terms of Business Lending collects data on gross loan extensions made during the first full business week in the middle 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. 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.

Footnotes

1. As of September 30, 2014, assets of the large banks were at least $4.8 billion. Median total assets for all insured banks were roughly $168 million. Assets at all U.S. branches and agencies averaged 11.8 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. Because of weekends and holidays, such loans may have maturity/repricing intervals in of more thanone day; nevertheless, such loans are not included in the 2 to 30 day category.

3. A complete description of these risk categories is available in the survey instructions, available at http://www.federalreserve.gov/apps/reportforms/reportdetail.aspx?sOoYJ+5BzDaSCesXTb1UmHCoyU8rIHWr. 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 ratings published for loans in rows 31-39 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.

4. Effective (compounded) annual interest rates are calculated from the stated rate and other terms of the loans and weighted by loan amount. For the standard error of the loan rate for all C&I loans in the current survey (tables 1-5, line 1, column 1), see the summary statistics table. The chances are about two out of three that the average rate shown will differ by less than this amount from the average rate that would be found by a complete survey of the universe of all banks.

5. Average maturities are weighted by loan amount and exclude loans with no stated maturities.

6. Loans guaranteed, either in part or in whole, by the Small Business Association (SBA). http://www.sba.gov/category/navigation-structure/loans-grants/small-business-loans/sbas-role

7. The terms "syndication" and "participation" encompasses a variety of arrangements among institutions to make loans. When each participating lender agrees in advance to fund and be at risk only up to a specified percentage of the total credit and the contract is executed by all participants and the borrower, the arrangement is often referred to as a syndication. When a lead lender originates the transaction and is the only party to the contract with the borrower and sells shares as prearranged with others, the arrangement is referred to as a participation. All loans made under either arrangements, whether or not the lender is the originator, are included.

8. 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.

9. Prime-based loans are based on the lending bank's own prime rate, any other lender's prime rate, a combintation 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.

10. See the summary statistics tables for the average reported prime rate weighted by the dollar value of loans priced relative to a prime base rate.

11. For loans made under formal commitments.

... The number of loans was insufficient to provide a meaningful value.
Last update: December 23, 2014