Federal Reserve Statistical Release, E.15, Agricultural Finance Databook; title with eagle logo links to Statistical Release home page
Release Date: December 31, 2004
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A.8. Characteristics of Bank Loans to Farmers -- All Banks, by Size of Loan, November 1-5, 2004
Percent except as noted
Loan characteristic All sizes $1,000 to
$9,999
$10,000 to
$24,999
$25,000 to
$49,999
$50,000 to
$99,999
$100,000 to
$249,999
$250,000
and over
Volume of loans (thousands of dollars) 1,513,777 52,579 95,046 139,464 176,665 255,469 794,554
Number of loans 29,402 13,312 6,583 4,047 2,663 1,724 1,073
Weighted average maturity (months)1 20.45 7.94 11.34 13.33 21.96 21.15 23.01
Weighted average repricing interval (months)2 5.94 2.59 4.35 5.63 8.83 6.28 5.65
Weighted average risk rating3 2.82 2.85 2.78 2.86 2.83 2.96 2.76
Weighted average interest rate4 5.62 6.86 6.51 6.58 6.22 5.54 5.17
  Standard error5 .22 .15 .23 .21 .16 .23 .38
  Interquartile range6  
    75th percentile 6.76 7.69 7.50 7.47 7.17 6.25 6.16
    25th percentile 4.31 6.08 5.61 5.64 5.12 4.70 3.82
  Purpose of loan  
    Feeder livestock 5.46 7.01 6.84 6.31 6.40 5.83 4.95
    Other livestock 5.22 6.88 6.78 7.18 6.03 5.50 4.49
    Other current operating expenses7 7 6.02 6.90 6.51 6.62 6.46 5.47
    Farm machinery and equipment 5.51 6.90 6.43 6.96 5.84 5.42 5.18
    Farm real estate 6.19 6.80 6.27 6.42 6.60 5.86 6.19
    Other8 8 4.90 6.16 6.20 5.95 5.41 5.12
Share of total loan volume  
  Features of loan  
    Floating rate 72.49 69.43 61.87 63.18 59.92 75.01 77.59
    Under commitment 79.82 79.68 72.53 66.43 64.56 76.26 87.58
    Callable 25.61 24.04 25.51 24.56 26.91 18.86 27.80
    Subject to prepayment penalty 4.56 .49 .45 1.90 .25 2.21 7.50
  Purpose of loan  
    Feeder livestock 16.07 5.45 6.79 10.45 13.54 22.67 17.30
    Other livestock 11.61 7.63 6.94 9.96 14.80 10.07 12.52
    Other current operating expenses9 7 38.52 73.77 66.83 56.18 44.49 35.21
    Farm machinery and equipment 9.39 5.46 7.86 7.30 6.89 10.84 10.30
    Farm real estate 8 8.28 1.23 4.09 3.75 7.19 8.03
    Other10 16.13 6.46 7.49 12.35 13.09 13.18 20.09
  Type of collateral  
    Farm real estate 10.08 4.05 3.89 8.18 12.94 14.55 9.48
    Other 84.86 86.26 88.70 84.93 81.57 82.77 85.71
   Note. Data are from the Survey of Terms of Bank Lending to Farmers, which collects data on gross loan extensions
made during the first full business week in the mid-month of each quarter by a sample of 250 banks of all sizes.
The sample data are used to infer an estimate of the lending terms at all insured agricultural banks during that
week. The estimated terms of bank lending are not intended for use in collecting the terms of loans extended over
the entire quarter or those residing in the portfolios of banks. Loans of less than $1,000 are excluded
from the survey.

   1. Average maturities are weighted by loan size and exclude loans with no stated maturity. Return to table
   2. The repricing interval measures the period from the date the loan is made until it first may be repriced. For
floating-rate loans that are subject to repricing at any time--such as many prime-based loans--the repricing interval
is zero. For floating rate loans that have a scheduled repricing interval, the 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 interval measures the number of days between the date the
loan is made and the date on which it matures. Loans that reprice daily are assumed to reprice on the business day
after they are made. Return to table
   3. A complete description of these risk rating categories is available from the Banking and Money Market Statistics
Section, mail stop 81, the Federal Reserve Board, Washington, DC 20551. The category 'Moderate Risk' includes the average
loan, under average economic conditions, at the typical lender. The weighted-average risk ratings 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. In calculating the average risk rating, these values are
weighted by loan amount and exclude loans with no risk rating. Some of the loans 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 size. Return to table
   5. 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 lending at all banks. Return to table
   6. The interquartile range shows the interest rate range that encompasses the middle 50 percent of the total dollar
amount of loans made. Return to table
   7. Loans used primarily to finance such items as current crop production expenses and the care and
feeding of livestock (including poultry). Return to table
   8. Typically loans for which the lender does not know the purpose. Return to table
   9. Loans used primarily to finance such items as current crop production expenses and the care and
feeding of livestock (including poultry). Return to table
   10. Typically loans for which the lender does not know the purpose. Return to table


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