Federal Reserve Statistical Release, E.2, Survey of Terms of Business Lending; title with eagle logo links to Statistical Release home page

Release Date: July 8, 2004
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FEDERAL RESERVE STATISTICAL RELEASE




E.2 SURVEY OF TERMS OF BUSINESS LENDING, MAY 3-7, 2004                             For immediate release
1. Commercial and industrial loans made by all commercial banks1                            July 8, 2004
Maturity/repricing interval2
and risk3 of loans
Weighted-
average
effective
loan rate4
(percent)
Total value of
loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime based Percent
made under
commitment
Average
months
since loan
terms set6
  Days  
 1. All C&I loans 2.99   69,269   434   474   45.7   27.5   28.6   73.0   18.0  
 2.   Mininal risk 2.19   2,242   634   392   48.5   15.5   17.3   95.5   10.7  
 3.   Low risk 2.16   12,113   1,009   498   16.0   54.0   13.7   77.7   18.6  
 4.   Moderate risk 2.95   23,019   473   531   49.1   30.7   27.8   78.0   16.5  
 5.   Other 3.71   20,201   393   429   62.5   13.8   39.3   74.5   18.5  
 
 6. Zero interval 3.82   15,295   202   514   61.5   7.8   60.0   78.8   13.7  
 7.   Mininal risk 2.53   450   309   210   84.0   38.4   38.6   95.4   12.2  
 8.   Low risk 3.00   1,553   383   360   42.6   12.9   43.7   83.1   11.4  
 9.   Moderate risk 4.13   4,589   183   720   64.6   4.8   77.4   90.2   13.7  
10.   Other 4.58   5,006   185   604   76.9   3.3   75.4   88.7   15.5  
 
11. Daily 2.39   23,238   858   223   35.6   39.1   17.6   61.8   23.2  
12.   Mininal risk 1.95   347   1,110   233   78.9   .0   12.4   96.0   2.8  
13.   Low risk 1.78   6,450   3,431   305   6.1   70.6   5.7   70.2   26.2  
14.   Moderate risk 2.37   6,520   891   277   49.5   29.2   18.9   70.4   20.4  
15.   Other 2.89   6,029   971   40   51.2   23.5   9.2   42.4   15.0  
 
16. 2 to 30 days 2.59   14,077   636   360   42.8   35.8   23.7   75.5   14.9  
17.   Mininal risk 1.67   826   2,534   191   16.9   12.8   13.1   98.3   17.7  
18.   Low risk 2.02   2,047   1,225   460   16.5   36.5   16.1   86.6   8.5  
19.   Moderate risk 2.30   6,457   1,457   321   48.7   50.5   13.1   66.7   13.8  
20.   Other 3.73   3,498   307   384   57.4   20.7   49.1   86.2   14.8  
 
21. 31 to 365 days 3.17   11,556   601   642   40.0   23.7   14.7   87.1   20.1  
22.   Mininal risk 2.54   570   690   767   43.8   11.9   9.7   94.5   4.2  
23.   Low risk 2.65   1,839   597   1,111   20.0   54.8   9.2   91.6   14.4  
24.   Moderate risk 3.10   3,861   609   512   36.5   22.1   9.5   91.0   21.1  
25.   Other 3.71   3,762   1,140   628   58.0   10.0   25.7   95.1   26.0  
  Months  
26. More than 365 days 4.57   3,895   290   55   55.6   25.7   33.5   80.3   14.3  
27.   Mininal risk 5.42   46   76   43   92.6   1.9   9.3   56.0   .8  
28.   Low risk 5.07   179   136   98   75.8   16.5   61.9   75.5   13.3  
29.   Moderate risk 4.37   1,460   316   66   31.5   55.5   21.9   87.9   7.1  
30.   Other 4.40   1,536   650   33   74.0   6.7   52.0   84.1   24.7  
Size of loan
($ thousands)
  Weighted-
average risk
rating3
Weighted-
average
maturity/
repricing
interval2
 
  Days  
31.   1 - 99 4.96   2,858   3.4   162   84.8   6.4   72.5   83.9   13.3  
32.   100 - 999 4.22   10,601   3.4   139   73.1   9.0   68.1   88.2   14.9  
33.   1,000 - 9,999 3.10   22,395   3.2   100   41.3   23.5   32.1   84.8   16.0  
34.   10,000+ 2.35   33,416   3.0   100   36.6   37.9   9.9   59.3   22.0  
    Base rate of loan7   Average size
($ thousands)
 
35.   Prime8 4.36   19,792   3.5   89   68.7   6.0   181   91.2   16.9  
36.   Other 2.44   49,477   3.0   116   36.5   36.2   990   65.7   18.6  
...  The number of loans was insufficient to provide a meaningful value.

E.2 SURVEY OF TERMS OF BUSINESS LENDING, MAY 3-7, 2004                             For immediate release
2. Commercial and industrial loans made by domestic banks1                                  July 8, 2004
Maturity/repricing interval2
and risk3 of loans
Weighted-
average
effective
loan rate4
(percent)
Total value of
loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime based Percent
made under
commitment
Average
months
since loan
terms set6
  Days  
 1. All C&I loans 3.32   48,421   312   628   50.1   18.7   39.5   81.4   18.6  
 2.   Mininal risk 2.33   1,133   345   366   60.2   27.4   33.7   91.2   19.3  
 3.   Low risk 2.24   8,413   732   576   21.4   48.5   19.0   90.0   22.0  
 4.   Moderate risk 3.41   16,302   346   730   48.0   19.7   37.2   84.3   15.0  
 5.   Other 4.20   13,051   263   644   71.1   4.7   58.7   87.0   18.0  
 
 6. Zero interval 3.80   14,928   199   506   61.3   7.9   59.8   78.3   13.3  
 7.   Mininal risk 2.40   415   292   200   90.0   41.6   40.6   95.0   12.0  
 8.   Low risk 2.91   1,499   376   321   41.6   13.4   45.1   82.5   11.7  
 9.   Moderate risk 4.13   4,496   181   715   64.7   4.9   77.0   90.0   13.3  
10.   Other 4.58   4,823   181   601   76.7   2.9   75.2   88.3   14.6  
 
11. Daily 2.68   11,655   454   412   37.1   29.5   33.3   83.4   26.1  
12.   Mininal risk 2.58   133   545   402   64.4   .0   32.4   89.6   7.8  
13.   Low risk 1.79   3,920   2,269   368   10.0   68.6   9.4   95.1   31.8  
14.   Moderate risk 2.85   3,531   513   540   46.2   19.4   30.5   73.1   15.3  
15.   Other 4.07   1,334   238   211   68.2   .7   38.9   71.4   13.8  
 
16. 2 to 30 days 2.94   8,829   422   514   48.3   20.5   36.8   84.7   15.4  
17.   Mininal risk 1.60   413   1,709   297   24.0   25.5   26.1   96.7   34.7  
18.   Low risk 2.09   1,507   966   526   22.1   26.5   21.8   90.6   9.0  
19.   Moderate risk 2.73   3,569   907   510   46.3   27.8   22.9   79.6   12.5  
20.   Other 4.21   2,302   210   539   77.5   8.4   72.5   93.4   13.7  
 
21. 31 to 365 days 3.41   7,906   438   736   40.5   20.3   19.7   89.6   22.3  
22.   Mininal risk 3.06   121   160   502   63.6   25.8   45.8   74.0   3.3  
23.   Low risk 2.63   1,263   438   1,218   21.3   60.4   9.0   87.8   17.3  
24.   Moderate risk 3.32   3,114   524   581   34.1   15.9   10.5   92.1   22.4  
25.   Other 3.76   2,686   924   766   51.3   6.1   34.5   94.3   26.0  
  Months  
26. More than 365 days 4.57   3,895   290   55   55.6   25.7   33.5   80.3   14.3  
27.   Mininal risk 5.42   46   76   43   92.6   1.9   9.3   56.0   .8  
28.   Low risk 5.07   179   136   98   75.8   16.5   61.9   75.5   13.3  
29.   Moderate risk 4.37   1,460   316   66   31.5   55.5   21.9   87.9   7.1  
30.   Other 4.40   1,536   651   33   74.0   6.7   52.0   84.1   24.7  
Size of loan
($ thousands)
  Weighted-
average risk
rating3
Weighted-
average
maturity/
repricing
interval2
 
  Days  
31.   1 - 99 4.96   2,836   3.4   163   85.0   6.4   72.5   83.8   13.3  
32.   100 - 999 4.28   9,962   3.4   147   76.0   7.2   70.4   88.3   14.9  
33.   1,000 - 9,999 3.39   15,865   3.2   133   51.3   14.7   42.8   91.0   17.6  
34.   10,000+ 2.55   19,757   2.9   162   31.0   29.5   16.5   70.0   23.1  
    Base rate of loan7   Average size
($ thousands)
 
35.   Prime8 4.35   19,124   3.5   91   69.7   5.2   176   90.9   16.8  
36.   Other 2.65   29,296   2.9   188   37.3   27.5   629   75.3   20.1  
...  The number of loans was insufficient to provide a meaningful value.

E.2 SURVEY OF TERMS OF BUSINESS LENDING, MAY 3-7, 2004                             For immediate release
3. Commercial and industrial loans made by large domestic banks1                            July 8, 2004
Maturity/repricing interval2
and risk3 of loans
Weighted-
average
effective
loan rate4
(percent)
Total value of
loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime based Percent
made under
commitment
Average
months
since loan
terms set6
  Days  
 1. All C&I loans 3.04   40,112   485   573   43.9   21.4   34.9   81.5   20.4  
 2.   Mininal risk 1.63   853   1,229   328   49.8   36.4   21.5   95.1   24.2  
 3.   Low risk 2.04   6,944   2,296   548   17.4   58.0   16.3   90.7   26.1  
 4.   Moderate risk 3.17   14,145   657   642   42.9   20.7   32.7   85.4   16.1  
 5.   Other 3.96   9,856   312   641   64.5   5.1   51.1   87.5   17.9  
 
 6. Zero interval 3.56   12,058   293   473   55.0   9.1   56.3   76.8   15.0  
 7.   Mininal risk 1.38   267   707   180   91.5   64.7   15.5   93.4   18.3  
 8.   Low risk 2.61   1,287   1,449   316   34.8   15.5   39.7   82.2   12.5  
 9.   Moderate risk 3.96   3,306   274   644   59.3   4.6   74.4   92.7   14.8  
10.   Other 4.49   4,124   241   625   73.5   3.1   72.0   90.5   15.8  
 
11. Daily 2.58   10,265   495   378   35.2   32.9   31.1   82.1   29.9  
12.   Mininal risk 2.29   119   2,056   408   60.6   .0   29.0   91.6   8.4  
13.   Low risk 1.73   3,155   4,974   439   8.1   85.2   7.4   95.7   39.3  
14.   Moderate risk 2.67   3,283   648   357   43.5   18.8   25.7   71.2   16.6  
15.   Other 3.77   1,074   262   170   61.8   .9   27.2   65.1   17.0  
 
16. 2 to 30 days 2.75   7,713   561   496   46.0   22.2   31.0   84.7   16.5  
17.   Mininal risk 1.44   379   2,480   301   17.1   27.9   20.5   96.4   38.0  
18.   Low risk 2.10   1,335   1,253   560   22.8   29.4   22.3   90.7   10.0  
19.   Moderate risk 2.70   3,469   1,407   513   45.3   28.1   22.0   79.6   12.7  
20.   Other 3.92   1,536   213   408   80.3   8.0   61.1   97.9   15.1  
 
21. 31 to 365 days 3.04   6,525   2,129   775   31.1   23.5   12.6   91.1   22.1  
22.   Mininal risk 2.11   69   1,189   638   40.1   45.5   38.6   99.9   3.7  
23.   Low risk 2.19   1,068   3,539   1,112   13.4   67.1   7.5   89.4   19.5  
24.   Moderate risk 3.16   2,848   3,345   588   31.0   16.7   9.2   94.2   23.4  
25.   Other 3.28   1,963   1,595   939   34.2   8.2   17.4   92.9   22.7  
  Months  
26. More than 365 days 4.04   2,366   1,043   49   27.8   37.1   26.2   93.8   13.7  
27.   Mininal risk 3.37   16   465   36   79.0   5.3   4.0   96.1   1.2  
28.   Low risk 2.49   53   435   25   22.3   52.6   22.9   98.3   34.1  
29.   Moderate risk 3.88   1,126   2,126   62   12.6   62.7   20.6   98.7   7.8  
30.   Other 4.12   791   880   29   49.5   10.7   47.1   89.2   25.3  
Size of loan
($ thousands)
  Weighted-
average risk
rating3
Weighted-
average
maturity/
repricing
interval2
 
  Days  
31.   1 - 99 4.31   1,565   3.6   40   80.6   9.4   78.5   91.7   18.0  
32.   100 - 999 3.94   7,115   3.5   57   70.6   7.4   71.9   94.5   18.1  
33.   1,000 - 9,999 3.27   12,572   3.2   91   47.4   16.7   41.9   91.5   18.7  
34.   10,000+ 2.45   18,860   2.8   158   28.4   30.9   12.7   69.2   23.4  
    Base rate of loan7   Average size
($ thousands)
 
35.   Prime8 4.11   14,013   3.4   54   62.8   5.3   222   93.9   17.9  
36.   Other 2.47   26,099   2.9   147   33.7   30.1   1,341   74.9   22.1  
...  The number of loans was insufficient to provide a meaningful value.

E.2 SURVEY OF TERMS OF BUSINESS LENDING, MAY 3-7, 2004                             For immediate release
4. Commercial and industrial loans made by small domestic banks1                            July 8, 2004
Maturity/repricing interval2
and risk3 of loans
Weighted-
average
effective
loan rate4
(percent)
Total value of
loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime based Percent
made under
commitment
Average
months
since loan
terms set6
  Days  
 1. All C&I loans 4.67   8,309   115   886   79.9   5.3   61.5   81.0   9.9  
 2.   Mininal risk 4.43   280   108   619   91.9   .0   71.1   79.2   1.1  
 3.   Low risk 3.17   1,469   174   706   40.1   3.8   31.5   87.0   1.6  
 4.   Moderate risk 4.94   2,157   84   1,349   81.2   13.1   66.8   77.1   6.8  
 5.   Other 4.94   3,195   177   652   91.3   3.3   82.2   85.2   18.3  
 
 6. Zero interval 4.81   2,870   85   660   87.9   2.9   74.5   84.3   6.7  
 7.   Mininal risk 4.24   148   142   418   87.1   .0   85.7   98.0   1.2  
 8.   Low risk 4.73   212   68   355   83.1   .8   78.0   84.2   7.0  
 9.   Moderate risk 4.61   1,190   93   940   79.8   5.7   84.2   82.3   8.5  
10.   Other 5.07   699   73   454   95.6   1.8   94.4   75.3   6.2  
 
11. Daily 3.47   1,390   283   636   50.5   4.8   49.9   93.5   1.6  
12.   Mininal risk 5.07   14   76   353   96.6   .0   61.7   72.7   1.0  
13.   Low risk 2.04   765   700   82   17.7   .0   17.6   92.6   .1  
14.   Moderate risk 5.21   248   136   2,762   83.0   26.9   92.9   97.5   2.8  
15.   Other 5.33   260   172   340   94.7   .2   87.2   97.7   4.9  
 
16. 2 to 30 days 4.23   1,116   156   638   64.0   8.8   76.8   84.7   7.9  
17.   Mininal risk 3.39   35   390   12   99.8   .0   87.3   99.9   .2  
18.   Low risk 2.00   171   347   276   16.5   3.8   18.3   89.2   .6  
19.   Moderate risk 4.00   99   68   401   81.4   20.3   55.8   78.4   6.5  
20.   Other 4.78   766   204   786   71.8   9.3   95.1   84.4   10.5  
 
21. 31 to 365 days 5.16   1,381   92   548   85.1   5.0   53.3   82.9   23.2  
22.   Mininal risk 4.30   52   75   281   94.5   .0   55.2   39.9   2.0  
23.   Low risk 5.02   195   75   1,803   64.3   23.4   17.1   79.5   4.0  
24.   Moderate risk 5.09   266   52   506   67.0   7.9   25.0   69.0   7.3  
25.   Other 5.07   723   431   294   97.8   .3   81.1   98.0   34.5  
  Months  
26. More than 365 days 5.39   1,529   137   63   98.6   8.1   44.9   59.5   16.0  
27.   Mininal risk 6.54   30   52   48   100.0   .0   12.2   34.2   .3  
28.   Low risk 6.16   126   105   128   98.5   1.2   78.5   65.9   .2  
29.   Moderate risk 6.01   334   81   81   95.1   31.1   26.1   51.2   2.3  
30.   Other 4.70   745   511   37   99.9   2.4   57.1   78.7   24.0  
Size of loan
($ thousands)
  Weighted-
average risk
rating3
Weighted-
average
maturity/
repricing
interval2
 
  Days  
31.   1 - 99 5.77   1,271   3.2   311   90.4   2.6   65.0   74.0   6.1  
32.   100 - 999 5.13   2,848   3.2   369   89.6   6.6   66.6   72.8   4.5  
33.   1,000 - 9,999 3.84   3,293   3.3   294   66.1   6.8   46.3   89.1   13.0  
34.   10,000+ 4.74   897   4.0   228   85.2   .0   96.3   87.5   17.4  
    Base rate of loan7   Average size
($ thousands)
 
35.   Prime8 5.01   5,112   3.6   191   88.6   4.9   113   82.6   13.3  
36.   Other 4.13   3,197   2.8   515   66.1   6.0   118   78.5   4.3  
...  The number of loans was insufficient to provide a meaningful value.

E.2 SURVEY OF TERMS OF BUSINESS LENDING, MAY 3-7, 2004                                 For immediate release
5. Commercial and industrial loans made by U.S. branches and agencies of foreign banks1         July 8, 2004
Maturity/repricing interval2
and risk3 of loans
Weighted-
average
effective
loan rate4
(percent)
Total value of
loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average
maturity5
Percent of value of loans Commitment status
Secured
by
collateral
Subject to
prepayment
penalty
Prime based Percent
made under
commitment
Average
months
since loan
terms set6
  Days  
 1. All C&I loans 2.21   20,848   4,551   141   35.5   48.2   3.2   53.4   15.9  
 2.   Mininal risk 2.05   1,109   4,395   415   36.5   3.3   .5   100.0   2.7  
 3.   Low risk 1.97   3,700   7,105   322   3.8   66.5   1.6   49.7   4.5  
 4.   Moderate risk 1.85   6,717   4,173   76   51.9   57.2   4.8   62.7   21.5  
 5.   Other 2.80   7,150   3,929   74   47.0   30.4   3.8   51.7   20.0  
 
 6. Zero interval 4.64   367   472   827   66.9   6.0   68.1   100.0   26.8  
 7.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
 8.   Low risk 5.42   54   852   1,389   69.7   .0   3.8   100.0   5.6  
 9.   Moderate risk 4.24   93   320   972   58.7   .9   98.9   100.0   29.1  
10.   Other 4.72   183   470   675   81.7   11.5   80.8   100.0   34.6  
 
11. Daily 2.09   11,583   8,228   48   34.2   48.8   1.7   39.9   17.2  
12.   Mininal risk 1.55   214   3,130   95   87.9   .0   .0   100.0   .0  
13.   Low risk 1.76   2,530   16,586   208   .0   73.8   .0   31.6   .2  
14.   Moderate risk 1.80   2,989   6,931   1   53.3   40.8   5.3   67.2   26.9  
15.   Other 2.55   4,695   7,853   1   46.4   30.0   .8   34.1   15.8  
 
16. 2 to 30 days 2.00   5,248   4,351   109   33.6   61.6   1.5   60.1   13.5  
17.   Mininal risk 1.74   413   4,903   105   9.8   .0   .0   100.0   1.2  
18.   Low risk 1.84   540   4,889   277   1.1   64.4   .0   75.6   6.8  
19.   Moderate risk 1.75   2,889   5,782   94   51.7   78.4   1.1   50.7   16.4  
20.   Other 2.81   1,196   2,762   89   18.9   44.3   4.1   72.5   17.7  
 
21. 31 to 365 days 2.65   3,650   3,084   430   39.0   31.1   3.9   81.5   15.1  
22.   Mininal risk 2.40   448   6,557   840   38.5   8.1   .0   100.0   4.4  
23.   Low risk 2.69   576   2,962   837   17.2   42.5   9.6   100.0   8.8  
24.   Moderate risk 2.16   746   1,918   211   46.5   48.0   5.4   86.7   15.5  
25.   Other 3.57   1,076   2,729   279   74.8   19.8   3.6   97.1   25.9  
  Months  
26. More than 365 days ...   ...   ...   ...   ...   ...   ...   ...   ...  
27.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
28.   Low risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
29.   Moderate risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
30.   Other ...   ...   ...   ...   ...   ...   ...   ...   ...  
Size of loan
($ thousands)
  Weighted-
average risk
rating3
Weighted-
average
maturity/
repricing
interval2
 
  Days  
31.   1 - 99 4.91   21   3.5   42   58.5   15.0   81.6   100.0   17.0  
32.   100 - 999 3.31   639   3.4   20   28.3   38.1   32.3   87.3   14.9  
33.   1,000 - 9,999 2.41   6,530   3.2   19   16.9   45.1   5.9   69.9   11.1  
34.   10,000+ 2.06   13,659   3.2   15   44.7   50.1   .4   43.8   19.6  
    Base rate of loan7   Average size
($ thousands)
 
35.   Prime8 4.54   668   3.5   15   39.1   29.3   580   100.0   21.0  
36.   Other 2.14   20,180   3.2   16   35.4   48.8   5,885   51.8   15.6  
...  The number of loans was insufficient to provide a meaningful value.

E.2 SURVEY OF TERMS OF BUSINESS LENDING, MAY 3-7, 2004                                      For immediate release
6. Commercial and industrial loans by date pricing terms were set and commitment status              July 8, 2004
Date pricing terms were set
and commitment status
Weighted-
average
effective
loan rate4
(percent)
Amount of
loans
($ millions)
Average
loan size
($ thousands)
Weighted-
average risk
rating3
Weighted-
average
maturity/
repricing
interval2
(days)
Percent of value of loans
Secured
by
collateral
Subject to
prepayment
penalty
Prime based
All commercial banks
 1. During survey week 2.69   28,410   539   3.1   114   38.9   31.8   15.8  
 2.   Not under commitment 2.38   18,713   691   3.4   102   41.1   41.9   9.3  
 3.   Informal commitment 2.73   5,915   347   2.9   110   28.6   11.2   22.8  
 4.   Formal commitment 4.15   3,782   439   2.7   182   44.2   13.9   36.6  
    Before survey week9
 5.   Up to 90 days 3.66   7,021   317   3.1   304   39.4   27.9   36.5  
 6.   91 to 365 days 3.36   11,464   242   3.1   53   60.7   24.6   45.9  
 6.   More than 365 days 2.97   22,359   600   3.2   68   48.5   23.5   33.4  
 
Domestic banks
 8. During survey week 3.34   14,721   292   3.1   214   46.9   5.0   29.9  
 9.   Not under commitment 2.82   8,990   345   3.2   214   44.5   3.5   19.4  
10.   Informal commitment 3.56   3,114   194   3.0   199   52.1   3.6   42.7  
11.   Formal commitment 4.87   2,617   316   3.1   234   49.0   12.1   50.4  
    Before survey week9
12.   Up to 90 days 3.73   6,261   286   3.2   340   41.5   27.0   40.6  
13.   91 to 365 days 3.45   10,042   216   3.1   57   65.4   20.9   50.1  
14.   More than 365 days 3.08   17,381   483   3.1   81   47.0   25.9   41.1  
 
Large domestic banks
15. During survey week 2.74   9,982   1,083   3.2   91   35.1   4.8   18.3  
16.   Not under commitment 2.22   7,413   1,094   3.2   44   34.8   3.0   11.6  
17.   Informal commitment 2.94   656   721   2.9   243   38.4   .4   28.1  
18.   Formal commitment 4.68   1,914   1,251   3.2   201   35.1   12.9   40.9  
    Before survey week9
19.   Up to 90 days 3.56   5,415   406   3.2   375   33.8   28.7   38.3  
20.   91 to 365 days 3.27   8,954   295   3.1   57   62.6   23.3   48.3  
21.   More than 365 days 2.92   15,760   528   3.0   69   42.3   28.4   36.7  
 
Small domestic banks
22. During survey week 4.61   4,738   115   3.1   452   71.8   5.7   54.2  
23.   Not under commitment 5.63   1,577   82   3.2   923   90.1   5.8   56.3  
24.   Informal commitment 3.73   2,458   162   3.0   187   55.7   4.4   46.6  
25.   Formal commitment 5.39   703   104   2.9   323   86.8   9.7   76.2  
    Before survey week9
26.   Up to 90 days 4.85   846   99   3.2   117   90.4   16.2   55.5  
27.   91 to 365 days 4.92   1,088   67   3.4   55   87.7   1.3   65.0  
28.   More than 365 days 4.63   1,621   265   4.2   198   93.0   1.2   83.9  
 
Foreign banks
29. During survey week 1.98   13,689   5,888   3.2   14   30.3   60.5   .6  
30.   Not under commitment 1.97   9,724   9,886   3.5   8   38.0   77.4   .0  
31.   Informal commitment 1.80   2,801   2,803   2.8   11   2.5   19.6   .7  
32.   Formal commitment 2.53   1,165   3,407   1.7   67   33.4   17.9   5.5  
    Before survey week9
33.   Up to 90 days 3.09   759   3,209   2.7   14   22.3   35.8   2.7  
34.   91 to 365 days 2.72   1,421   2,047   2.7   24   27.8   50.6   16.4  
35.   More than 365 days 2.57   4,979   3,756   3.5   21   53.9   15.3   6.6  
...  The number of loans was insufficient to provide a meaningful value.

Summary statistics All commercial
banks
Domestic
banks
Large domestic
banks
Small domestic
banks
Foreign
banks
Average reported prime rate 4.04   4.04   4.00   4.15   4.00  
Standard error of loan rate4 .17   .25   .28   .34   .20  

NOTES


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.

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. 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. 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 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.

8. 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.

9. For loans made under formal commitments.

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