Survey of Terms of Business Lending/Prime Rate Supplement
The Survey of Terms of Business Lending (FR 2028a/s; OMB No. 7100-0061) has been discontinued. The proposed final data collection for the FR 2028A was for the May 2017 survey week. The FR 2028A collected information on commercial and industrial (C&I) loans made by commercial banks and U.S. branches and agencies of foreign banks to domestic customers during a representative week of the quarter, including price and nonprice terms. The respondents provided information on stated rate of interest, frequency of interest compounding, loan size, maturity, collateralization, and loan risk ratings. The FR 2028A was designed to allow the Federal Reserve to measure the cost of nonfarm business borrowing from banks and to assess conditions and analyze developments in nonfarm business credit markets. It replaced the Quarterly Interest Rate Survey and portions of the Survey of Selected Interest Rates of the Committee on Interest and Dividends (CID survey). It was designed to provide more accurate and detailed information on nonfarm business loans, especially concerning maturity and nonprice terms, than the previous surveys. The FR 2028D, a less burdensome survey, will replace the FR 2028A data collection. The proposed first data collection for the FR 2028D would be in February 2018 for the December 31, 2017, as of date.
Last Update: December 21, 2017