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

Release Date: June 24, 2005
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FEDERAL RESERVE STATISTICAL RELEASE




E.2 SURVEY OF TERMS OF BUSINESS LENDING, MAY 2-6, 2005                             For immediate release
1. Commercial and industrial loans made by all commercial banks1                           June 24, 2005
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 4.83   70,178   396   531   41.9   24.3   33.2   79.3   12.0  
 2.   Mininal risk 4.07   2,015   497   604   45.5   2.1   18.7   91.0   8.6  
 3.   Low risk 4.04   11,166   1,012   384   16.5   37.0   17.6   85.9   16.0  
 4.   Moderate risk 4.92   27,607   408   637   43.4   19.8   32.6   80.6   11.5  
 5.   Other 5.27   19,744   347   439   51.2   22.0   38.0   75.5   13.2  
 
 6. Zero interval 5.98   19,108   200   806   62.8   8.8   75.4   92.2   9.9  
 7.   Mininal risk 5.47   225   204   1,174   40.8   8.9   40.0   91.9   4.0  
 8.   Low risk 4.87   1,546   377   611   50.1   11.8   44.7   96.4   12.1  
 9.   Moderate risk 6.12   8,276   229   1,023   61.3   3.7   76.7   93.5   10.2  
10.   Other 6.54   4,770   154   734   74.9   2.8   77.7   89.9   11.1  
 
11. Daily 3.93   22,689   1,171   187   11.8   36.7   8.6   65.2   13.5  
12.   Mininal risk 4.07   568   781   126   32.4   1.4   34.3   83.4   3.4  
13.   Low risk 3.74   4,908   2,318   279   3.8   59.8   6.4   76.9   26.4  
14.   Moderate risk 3.95   8,556   1,070   248   16.3   23.1   9.0   69.8   9.3  
15.   Other 4.03   6,646   1,069   43   11.6   34.6   6.2   55.8   10.3  
 
16. 2 to 30 days 4.64   13,824   522   373   48.9   31.7   26.6   79.1   11.4  
17.   Mininal risk 3.79   257   937   667   20.8   .2   11.2   91.1   1.3  
18.   Low risk 3.83   3,013   1,988   342   11.3   28.0   13.6   92.4   8.9  
19.   Moderate risk 4.57   4,945   553   334   56.9   39.5   23.7   75.7   15.6  
20.   Other 5.29   4,523   350   374   66.3   26.4   37.9   78.9   10.2  
 
21. 31 to 365 days 5.00   9,352   451   625   51.7   18.4   20.6   85.6   16.5  
22.   Mininal risk 3.83   659   461   737   44.5   1.9   7.4   95.2   19.3  
23.   Low risk 4.79   1,256   588   460   21.5   12.3   29.5   91.0   6.9  
24.   Moderate risk 4.87   3,789   432   628   53.3   19.9   5.7   88.2   14.1  
25.   Other 5.64   2,777   772   654   69.6   19.2   43.4   89.2   24.7  
  Months  
26. More than 365 days 5.45   4,189   321   50   51.5   20.7   28.0   78.0   9.5  
27.   Mininal risk 3.90   164   340   33   93.0   .1   8.9   91.9   6.3  
28.   Low risk 6.35   236   209   46   34.9   .7   76.2   90.9   4.0  
29.   Moderate risk 5.01   1,998   368   51   32.9   24.2   23.4   70.5   9.1  
30.   Other 6.41   955   405   50   79.0   19.1   41.9   83.5   15.5  
Size of loan
($ thousands)
  Weighted-
average risk
rating3
Weighted-
average
maturity/
repricing
interval2
 
  Days  
31.   1 - 99 6.54   3,254   3.4   148   85.3   7.3   70.3   86.3   7.8  
32.   100 - 999 5.96   11,571   3.3   115   72.1   10.4   70.5   92.4   9.8  
33.   1,000 - 9,999 5.01   25,199   3.2   116   44.5   20.8   34.7   84.8   12.3  
34.   10,000+ 4.07   30,154   3.0   74   23.4   34.3   13.7   68.8   13.4  
    Base rate of loan7   Average size
($ thousands)
 
35.   Prime8 6.16   23,314   3.3   79   65.3   8.0   190   92.8   10.8  
36.   Other 4.17   46,864   3.0   110   30.2   32.4   857   72.5   12.8  
...  The number of loans was insufficient to provide a meaningful value.

E.2 SURVEY OF TERMS OF BUSINESS LENDING, MAY 2-6, 2005                             For immediate release
2. Commercial and industrial loans made by domestic banks1                                 June 24, 2005
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 5.33   44,066   257   760   58.7   14.0   49.7   87.7   14.1  
 2.   Mininal risk 4.17   939   253   500   74.3   3.9   37.4   92.9   17.6  
 3.   Low risk 4.22   6,174   616   530   29.0   34.8   25.3   89.8   23.4  
 4.   Moderate risk 5.39   18,466   283   909   52.7   10.0   46.3   85.1   12.2  
 5.   Other 6.12   11,216   205   693   81.5   5.6   63.2   91.0   15.7  
 
 6. Zero interval 5.96   18,544   196   793   63.0   9.0   75.8   92.0   9.7  
 7.   Mininal risk 4.83   136   127   690   67.6   14.8   66.2   86.5   6.3  
 8.   Low risk 4.84   1,516   379   595   49.8   12.0   44.8   96.3   12.2  
 9.   Moderate risk 6.13   8,006   225   1,028   61.1   3.8   76.7   93.3   9.8  
10.   Other 6.50   4,595   150   702   75.2   2.8   77.9   89.5   11.0  
 
11. Daily 4.44   6,981   401   528   34.1   32.4   23.7   74.9   27.2  
12.   Mininal risk 5.01   195   313   357   78.2   4.1   99.9   98.9   8.3  
13.   Low risk 3.86   2,258   1,155   445   8.4   74.8   14.0   84.3   44.0  
14.   Moderate risk 4.38   3,378   464   649   34.9   16.4   18.7   64.5   19.9  
15.   Other 5.57   952   172   335   74.6   1.3   36.5   83.2   15.3  
 
16. 2 to 30 days 5.18   7,425   301   619   67.1   9.1   46.6   93.4   12.2  
17.   Mininal risk 4.34   39   215   587   29.7   .1   18.3   96.5   5.3  
18.   Low risk 4.07   1,306   1,221   539   26.1   9.6   21.8   94.5   15.9  
19.   Moderate risk 5.21   2,459   295   610   62.7   5.0   45.6   95.9   11.9  
20.   Other 5.79   2,804   225   622   90.6   10.2   60.2   96.7   11.9  
 
21. 31 to 365 days 5.11   6,151   319   565   63.4   11.5   23.5   86.9   21.0  
22.   Mininal risk 3.63   397   299   313   70.7   2.0   11.4   92.0   32.3  
23.   Low risk 4.70   663   358   331   37.1   19.6   17.0   83.0   9.4  
24.   Moderate risk 4.87   2,582   310   667   54.9   15.0   6.7   87.5   15.2  
25.   Other 5.86   1,931   642   564   84.8   4.0   53.4   90.7   32.6  
  Months  
26. More than 365 days 5.44   4,082   314   50   51.7   19.7   27.6   79.0   9.6  
27.   Mininal risk 3.90   164   340   33   93.0   .1   8.9   91.9   6.3  
28.   Low risk 6.38   224   199   48   31.3   .7   74.9   90.3   3.0  
29.   Moderate risk 5.01   1,998   368   51   32.9   24.2   23.4   70.5   9.1  
30.   Other 6.47   861   367   48   84.0   13.9   42.8   89.0   16.2  
Size of loan
($ thousands)
  Weighted-
average risk
rating3
Weighted-
average
maturity/
repricing
interval2
 
  Days  
31.   1 - 99 6.55   3,224   3.4   149   85.5   7.1   70.4   86.2   7.8  
32.   100 - 999 6.02   10,680   3.3   123   75.8   8.2   73.3   92.6   9.8  
33.   1,000 - 9,999 5.37   16,290   3.2   165   58.9   11.7   48.5   90.7   14.2  
34.   10,000+ 4.48   13,872   2.9   146   39.1   22.9   28.3   80.9   19.3  
    Base rate of loan7   Average size
($ thousands)
 
35.   Prime8 6.16   21,920   3.4   79   67.9   7.6   181   92.5   10.8  
36.   Other 4.51   22,146   2.9   217   49.6   20.4   441   83.0   17.7  
...  The number of loans was insufficient to provide a meaningful value.

E.2 SURVEY OF TERMS OF BUSINESS LENDING, MAY 2-6, 2005                             For immediate release
3. Commercial and industrial loans made by large domestic banks1                           June 24, 2005
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 5.14   38,146   399   738   54.5   15.8   46.9   88.2   15.4  
 2.   Mininal risk 3.68   722   1,037   453   77.2   5.0   29.7   97.3   21.5  
 3.   Low risk 3.99   5,519   1,292   520   24.5   38.6   21.8   89.4   25.6  
 4.   Moderate risk 5.17   15,830   538   884   46.7   11.0   42.2   85.3   13.2  
 5.   Other 6.01   9,700   266   663   80.0   6.1   60.9   91.4   17.3  
 
 6. Zero interval 5.85   16,007   278   806   59.6   10.1   74.5   92.5   9.9  
 7.   Mininal risk 4.47   98   311   589   58.1   20.3   59.7   84.0   8.0  
 8.   Low risk 4.60   1,309   728   638   46.1   13.7   41.0   96.6   12.2  
 9.   Moderate risk 6.04   6,559   383   1,037   55.7   3.8   74.9   94.9   9.8  
10.   Other 6.42   4,034   215   740   74.7   3.0   75.5   89.2   11.6  
 
11. Daily 4.28   6,497   604   509   30.2   34.8   18.4   73.6   29.4  
12.   Mininal risk 4.31   110   1,288   270   94.7   7.3   99.9   98.1   14.8  
13.   Low risk 3.81   2,223   2,050   447   7.0   76.0   12.6   84.1   44.8  
14.   Moderate risk 4.22   3,153   760   666   31.1   17.5   13.2   62.8   21.6  
15.   Other 5.48   882   199   120   72.7   1.1   32.2   82.0   16.0  
 
16. 2 to 30 days 5.01   6,512   347   674   63.8   10.0   42.2   93.3   13.5  
17.   Mininal risk 4.17   25   241   446   36.0   .1   18.5   100.0   6.4  
18.   Low risk 4.03   1,259   1,321   544   24.7   9.8   21.7   94.6   16.2  
19.   Moderate risk 5.03   2,171   396   653   57.9   5.5   40.7   95.9   13.3  
20.   Other 5.61   2,411   230   695   89.2   11.2   54.4   96.9   13.2  
 
21. 31 to 365 days 4.83   5,156   1,558   592   58.3   13.1   22.1   88.6   24.0  
22.   Mininal risk 3.35   349   2,399   323   70.8   2.3   11.6   99.7   33.8  
23.   Low risk 4.35   465   1,566   401   14.4   25.6   21.3   80.3   12.1  
24.   Moderate risk 4.56   2,245   1,940   708   50.2   16.4   4.4   88.6   17.0  
25.   Other 5.71   1,690   1,434   553   82.9   4.5   51.0   92.5   35.8  
  Months  
26. More than 365 days 5.00   3,100   1,000   40   42.5   24.4   22.6   82.5   11.9  
27.   Mininal risk 3.37   132   4,711   29   100.0   .1   .9   99.6   7.0  
28.   Low risk 5.09   57   504   40   49.9   2.5   27.7   83.6   12.6  
29.   Moderate risk 4.62   1,667   1,264   41   20.3   26.6   20.2   71.7   10.4  
30.   Other 6.55   610   699   35   78.5   18.8   56.1   93.5   21.6  
Size of loan
($ thousands)
  Weighted-
average risk
rating3
Weighted-
average
maturity/
repricing
interval2
 
  Days  
31.   1 - 99 6.09   1,846   3.6   54   86.0   10.2   72.9   92.6   8.8  
32.   100 - 999 5.82   8,066   3.4   78   72.0   9.7   74.1   94.7   11.2  
33.   1,000 - 9,999 5.26   14,517   3.2   133   56.1   12.8   46.0   91.1   15.2  
34.   10,000+ 4.47   13,717   2.9   147   38.4   23.1   28.3   80.7   19.5  
    Base rate of loan7   Average size
($ thousands)
 
35.   Prime8 6.02   17,877   3.4   62   64.0   8.6   255   93.5   12.0  
36.   Other 4.36   20,269   2.9   177   46.2   22.0   796   83.5   18.7  
...  The number of loans was insufficient to provide a meaningful value.

E.2 SURVEY OF TERMS OF BUSINESS LENDING, MAY 2-6, 2005                             For immediate release
4. Commercial and industrial loans made by small domestic banks1                           June 24, 2005
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 6.61   5,920   78   900   85.6   2.9   68.3   84.7   5.1  
 2.   Mininal risk 5.77   218   72   649   64.8   .1   63.0   78.1   1.2  
 3.   Low risk 6.15   655   114   611   66.4   2.4   54.5   92.6   5.4  
 4.   Moderate risk 6.66   2,636   73   1,068   88.7   4.5   71.3   84.0   6.2  
 5.   Other 6.87   1,517   83   872   91.1   2.4   77.3   88.5   4.7  
 
 6. Zero interval 6.66   2,537   68   701   84.1   2.7   84.2   88.9   8.5  
 7.   Mininal risk 5.73   38   50   878   91.8   .7   82.8   92.9   2.4  
 8.   Low risk 6.30   208   94   295   72.8   1.0   69.1   94.5   12.0  
 9.   Moderate risk 6.54   1,447   78   985   85.6   3.8   84.7   86.3   9.8  
10.   Other 7.09   561   47   422   78.6   2.0   95.4   91.7   7.3  
 
11. Daily 6.50   485   73   768   85.3   .7   95.3   93.1   2.0  
12.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
13.   Low risk 6.97   36   41   311   95.4   .0   100.0   99.5   2.0  
14.   Moderate risk 6.59   226   72   415   88.2   .4   94.4   88.5   3.5  
15.   Other 6.76   70   64   2,617   97.9   3.8   91.1   97.7   1.6  
 
16. 2 to 30 days 6.40   914   154   263   90.2   2.7   77.6   94.2   2.9  
17.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
18.   Low risk 5.19   47   402   421   63.0   4.4   26.2   92.4   5.0  
19.   Moderate risk 6.57   288   101   292   99.0   1.8   82.0   95.4   .6  
20.   Other 6.91   393   199   249   98.9   4.4   96.1   95.5   3.9  
 
21. 31 to 365 days 6.55   996   62   427   89.6   3.0   31.1   77.7   3.0  
22.   Mininal risk 5.67   48   41   246   70.2   .0   9.9   36.4   2.4  
23.   Low risk 5.50   199   128   174   90.2   5.7   6.9   89.3   3.8  
24.   Moderate risk 6.97   337   47   385   85.9   5.2   22.0   80.0   1.4  
25.   Other 6.91   242   132   640   98.6   .5   70.1   77.9   4.2  
  Months  
26. More than 365 days 6.81   982   99   80   80.9   4.7   43.4   67.8   .6  
27.   Mininal risk 6.05   32   71   47   64.7   .0   41.3   60.7   2.0  
28.   Low risk 6.82   166   165   51   24.8   .1   91.1   92.6   .0  
29.   Moderate risk 6.96   332   81   102   96.3   12.2   39.1   64.3   1.5  
30.   Other 6.29   251   170   81   97.5   1.9   10.5   77.8   .1  
Size of loan
($ thousands)
  Weighted-
average risk
rating3
Weighted-
average
maturity/
repricing
interval2
 
  Days  
31.   1 - 99 7.15   1,378   3.1   273   84.9   3.0   67.1   77.6   6.2  
32.   100 - 999 6.63   2,614   3.0   261   87.8   3.6   70.7   86.0   4.8  
33.   1,000 - 9,999 6.25   1,773   3.3   428   81.5   2.1   69.2   87.0   5.3  
34.   10,000+ ...   ...   ...   ...   ...   ...   ...   ...   ...  
    Base rate of loan7   Average size
($ thousands)
 
35.   Prime8 6.81   4,042   3.2   153   85.4   2.7   79   88.1   4.9  
36.   Other 6.18   1,877   2.9   643   86.0   3.3   76   77.4   5.5  
...  The number of loans was insufficient to provide a meaningful value.

E.2 SURVEY OF TERMS OF BUSINESS LENDING, MAY 2-6, 2005                                 For immediate release
5. Commercial and industrial loans made by U.S. branches and agencies of foreign banks1        June 24, 2005
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 3.98   26,112   4,194   170   13.5   41.5   5.3   65.0   7.3  
 2.   Mininal risk 3.98   1,076   3,135   701   20.3   .5   2.3   89.4   .5  
 3.   Low risk 3.80   4,992   4,980   212   1.1   39.9   8.1   81.2   6.0  
 4.   Moderate risk 3.97   9,141   4,040   112   24.8   39.6   4.8   71.5   9.4  
 5.   Other 4.15   8,527   4,103   133   11.3   43.6   4.9   55.2   7.9  
 
 6. Zero interval 6.50   564   595   1,233   56.3   .6   61.0   100.0   14.8  
 7.   Mininal risk ...   ...   ...   ...   ...   ...   ...   ...   ...  
 8.   Low risk 6.40   29   276   1,302   65.5   .0   37.8   100.0   10.1  
 9.   Moderate risk 5.79   270   545   847   67.6   .0   76.9   100.0   21.0  
10.   Other 7.64   175   569   1,510   66.0   1.8   71.5   100.0   13.2  
 
11. Daily 3.71   15,708   7,951   47   2.0   38.6   1.9   60.9   5.6  
12.   Mininal risk 3.58   373   3,565   11   8.4   .0   .0   75.3   .0  
13.   Low risk 3.63   2,650   16,444   147   .0   47.0   .0   70.6   8.5  
14.   Moderate risk 3.67   5,177   7,255   4   4.1   27.4   2.7   73.2   2.3  
15.   Other 3.78   5,694   8,346   1   1.1   40.2   1.1   51.2   9.0  
 
16. 2 to 30 days 4.01   6,398   3,543   107   27.8   57.9   3.5   62.5   10.1  
17.   Mininal risk 3.70   218   2,319   681   19.2   .2   9.9   90.1   .6  
18.   Low risk 3.64   1,707   3,830   197   .0   42.1   7.3   90.7   3.3  
19.   Moderate risk 3.95   2,486   4,014   69   51.1   73.6   2.1   55.8   22.1  
20.   Other 4.46   1,719   3,555   22   26.6   52.7   1.5   49.9   5.1  
 
21. 31 to 365 days 4.79   3,201   2,185   757   29.2   31.6   15.0   83.1   7.5  
22.   Mininal risk 4.12   262   2,606   1,379   4.7   1.8   1.2   100.0   1.1  
23.   Low risk 4.89   593   2,099   697   4.1   4.2   43.5   100.0   4.5  
24.   Moderate risk 4.87   1,207   2,786   542   49.9   30.4   3.5   89.6   11.8  
25.   Other 5.16   845   1,427   898   34.9   54.1   20.8   85.7   5.8  
  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 5.94   30   3.3   20   58.9   29.5   59.9   97.5   8.2  
32.   100 - 999 5.24   891   3.0   24   26.6   36.4   37.8   90.7   10.8  
33.   1,000 - 9,999 4.35   8,910   3.2   26   18.3   37.4   9.5   74.0   8.1  
34.   10,000+ 3.71   16,282   3.1   15   10.0   44.1   1.2   58.6   6.4  
    Base rate of loan7   Average size
($ thousands)
 
35.   Prime8 6.18   1,394   3.0   76   24.6   14.7   805   97.6   10.2  
36.   Other 3.86   24,718   3.1   16   12.8   43.1   5,499   63.1   7.0  
...  The number of loans was insufficient to provide a meaningful value.

E.2 SURVEY OF TERMS OF BUSINESS LENDING, MAY 2-6, 2005                                      For immediate release
6. Commercial and industrial loans by date pricing terms were set and commitment status             June 24, 2005
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 4.45   29,841   513   3.1   110   24.5   33.4   19.0  
 2.   Not under commitment 4.16   14,556   588   3.3   110   19.5   55.6   11.6  
 3.   Informal commitment 4.07   9,167   437   3.1   33   13.9   14.6   10.7  
 4.   Formal commitment 5.71   6,118   492   2.8   231   52.0   9.0   49.2  
    Before survey week9
 5.   Up to 90 days 5.25   8,363   282   3.1   135   45.1   12.7   52.8  
 6.   91 to 365 days 5.13   15,787   248   3.1   88   60.2   16.6   48.4  
 6.   More than 365 days 5.05   15,649   630   3.1   73   55.8   21.6   35.4  
 
Domestic banks
 8. During survey week 5.59   11,622   211   3.1   254   49.4   8.4   47.0  
 9.   Not under commitment 4.94   5,409   229   3.1   261   34.7   9.7   30.5  
10.   Informal commitment 5.89   1,701   88   3.1   150   70.4   4.2   52.9  
11.   Formal commitment 6.26   4,512   373   3.1   285   59.1   8.5   64.7  
    Before survey week9
12.   Up to 90 days 5.44   6,898   237   3.2   158   54.5   12.0   59.5  
13.   91 to 365 days 5.21   12,798   206   3.2   102   66.3   12.4   54.8  
14.   More than 365 days 5.15   12,681   533   3.2   87   61.7   21.9   41.7  
 
Large domestic banks
15. During survey week 5.16   8,272   628   3.1   160   34.1   10.5   40.5  
16.   Not under commitment 4.57   4,503   597   3.1   165   24.2   11.0   25.9  
17.   Informal commitment 4.77   743   216   3.1   49   45.1   2.7   29.3  
18.   Formal commitment 6.12   3,026   1,382   3.2   179   46.1   11.6   64.9  
    Before survey week9
19.   Up to 90 days 5.29   6,193   317   3.2   162   50.3   13.3   57.4  
20.   91 to 365 days 5.06   11,489   255   3.1   107   64.4   13.5   52.3  
21.   More than 365 days 5.11   12,192   684   3.2   89   61.3   22.7   40.8  
 
Small domestic banks
22. During survey week 6.67   3,350   80   3.0   487   87.1   3.4   63.2  
23.   Not under commitment 6.78   906   56   3.1   736   86.7   3.2   53.1  
24.   Informal commitment 6.77   958   60   3.1   228   90.1   5.3   71.2  
25.   Formal commitment 6.53   1,486   150   2.9   501   85.5   2.2   64.2  
    Before survey week9
26.   Up to 90 days 6.78   705   74   3.2   124   91.4   1.1   78.3  
27.   91 to 365 days 6.55   1,309   76   3.4   63   83.0   3.0   77.0  
28.   More than 365 days 6.10   489   82   3.0   25   71.4   2.8   64.7  
 
Foreign banks
29. During survey week 3.72   18,219   5,914   3.2   18   8.6   49.4   1.1  
30.   Not under commitment 3.69   9,147   8,487   3.4   20   10.6   82.7   .4  
31.   Informal commitment 3.66   7,466   4,470   3.1   6   1.0   16.9   1.0  
32.   Formal commitment 4.19   1,606   4,827   2.0   66   32.3   10.3   5.8  
    Before survey week9
33.   Up to 90 days 4.34   1,465   2,714   2.7   24   1.2   15.7   21.1  
34.   91 to 365 days 4.77   2,989   1,992   2.8   29   34.3   34.6   21.0  
35.   More than 365 days 4.63   2,968   2,847   3.1   17   30.7   19.9   8.5  
...  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 5.91   5.91   5.89   6.02   5.90  
Standard error of loan rate4 .13   .12   .15   .08   .15  

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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