e2_19861223.pdf

FEDERAL RESERVE statistical release .vosyst&v.

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E.2 SURVEY OF TERMS OF BANK LENDING

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Notes on Survey Content "

A cover note to the previous E.2 release, dated October 28, included a special table that presented survey data for August 1986 disaggregated according to maturity and base rate.* Base rate information became available for the first time with the August survey. To provide users with a somewhat different perspective on loan pricing, data for the November survey are displayed in the table below disaggregated by size and base rate. Reported base pricing categories include the respondent bank's prime rate, the federal funds rate, domestic money market rates other than the federal funds rate, foreign money market rates, and other rates not included in the preceding measures,

Gross Extensions of Commercial and Industrial Loans By Loan Size and Base Rate, November 3-7, 1986

(all insured commercial banks; billions of dollars)

Base Rate Loan Size Federal Other Domestic Foreign ($1,000) Prime Funds Money Market Money Market Other None

1-499 5.2 .1 .2 .8 .2 500-999 1.6 .1 .1 - .1 -

1,000-4,999 3.1 1.7 1.8 .7 1.0 .4 5,000+ 3.7 14.1 9.1 3.2 2.6 1.2 All loans 13.6 15.9 11.1 3.9 4.5 1.8

Memo:

(a) weighted average loan rate (percent) 8.33 6.52 6.61 7.13 7.34 7.07

(b) weighted average maturity (months) 17 .5 1.1 6.7 9.5 8.0 3.1

Note: Components may not add to totals due to rounding• - denotes less than $100 million.

1. A revised version of that table appears on the back of this page•

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Prime-based loans are conspicuous in each loan size category, although they are most prominent for small- to medium-sized loans, those made in amounts under $ 5 0 0 , 0 0 0 . By contrast, relatively few loans priced with market rates are made in denominations of under $1 million. The reference rate accounting for the largest volume of gross loan extensions measured during the November survey week, $15.9 billion, was the federal funds rate. The dominance of this rate reflects its typical usage as a base rate for overnight loans. Because overnight loans are measured on each day of the survey week, they account for a substantial percentage of total gross loans extended, but a much smaller share of outstandings.

The first memorandum line presents average loan rates by base pricing categories. Prime-based loans tend to be more expensive than those priced with market rates. During the survey week, prime-based loans had an average rate of 8.33 percent, compared with a prevailing prime rate of 7.5 percent. Among market-related loans, the lowest average rate was for those loans linked to the federal funds rate. The average loan in this category was priced 46 basis points above the average federal funds rate during that week. Loans priced with other market rates had higher average rates, evidently reflecting in part their longer average maturities.

************************

Gross Extensions of Commercial and Industrial Loans By Base Rate and Loan Maturity, August 4-8, 1986

(all insured commercial banks; billions of dollars; revised)

Base Rate Used to Price Loan

Loan Maturity Prime

Overnight .3

One month and under (excluding overnight) .9

Federal Other Domestic Foreign Funds Money Market Money Market Other None

11.9 3.6 .5 1.7 .5

.8 2.2 1.2 .7 .5

Over one month and under one year

Demand

One year and over

Total

4.4

4.0

2.4

12.0

.6

.6

,_2

14.0

1.5

.4

.8

8.5

1.0

.3

3.1

1.3

.4

.8

4.9

.3

.1

.1

1.5

Note: Components may not add to totals due to rounding. - denotes less than $100 million.


NOTES

The survey of terms of bank lending to business collects data on gross loan extensions made during the first full business week in the mid- month of each quarter by a sample of 340 commercial banks of all sizes. A subsample of 250 banks al3o report loans to farmers. The sample data are blown up to estimate the lending terms at all insured commercial 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 residing in the portfolios of those banks. Construction and land development loans include both unsecured loans and loans secured by real estate. Thus, some of the construction and land development loans would be reported on the statement of condition as reals estate loans and the remainder as business loans. Mortgage loans, purchased loans, foreign loans, and loans of less than $1,000 are excluded from the survey.

1. As of December 31, 1985, assets of most of the large banks were at least $ 5.5 billion. For all insured banks, total assets averaged $ 165 million.

2. Average maturities are weighted by loan size and exclude demand loans.

3. Effective (compounded) annual interest rates are calculated from the stated rate and other terms of the loan and weighted by loan size.

4. The chances are about 2 out of 3 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.

5. The interquartile range shows the interest rate range that encompasses the middle fifty percent of the total dollar amount of loans made.

6. The most common base rate is that rate used to price the largest dollar volume of loans. Base pricing rates include the prime rate (sometimes referred to as a bank's "basic" or "reference" rate); the federal funds rate; domestic money market rates other than the federal funds rate; foreign money market rates; and other base rates not included in the foregoing classifications;

7. Overnight loans mature on the business day after they are made.

8. Demand loans have no stated date of maturity.

9. Nominal (not compounded) annual interest rates are calculated from survey data on the stated rate and other terms of the loan and weighted by loan size.

10. The prime rate reported by each bank is weighted by the volume of loans extended and then averaged.

11. The proportion of loans made at rates below prime may vary substantially from the proportion of such loans outstanding in banks1 portfolios.

12. Among banks reporting loans to farmers (Table 5), most "large banks" (survey strata 1 to 3) had over * 600 million in total assets, and most "other banks" (survey strata 4 to 6) had total assets below * 600 million.


FEDERAL RESERVE statistical release

E.2

SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 3-7, 1986

TABLE 1 COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY ALL COMMERCIAL BANKS 1/

FOR IMMEDIATE RELEASE DECEMBER 23, 1986

LOAN CHARACTERISTICS AMOUNT OF LOANS ($1,000)

AVERAGE SIZE ($1,000)

WEIGHTED AVERAGE

MATURITY 2/

LOAN RATE (PERCENT) PERCENTAGE OP AMOUNT OF LOANS MADE UNDER«

MOST COMMON BASE

PRICING RATE

6/



WEIGHTED AVERAGE

MATURITY 2/

WEIGHTED AVERAGE

EFFECTIVE 3/

STANDARD ERROR

4/

INTER-QUARTILE RANGE

5/

PERCENTAGE OP AMOUNT OF LOANS MADE UNDER«

MOST COMMON BASE

PRICING RATE

6/



WEIGHTED AVERAGE

MATURITY 2/

WEIGHTED AVERAGE

EFFECTIVE 3/

STANDARD ERROR

4/


5/ COMMITMENT PARTICIPATION

MOST COMMON BASE

PRICING RATE

6/

DAYS

OVERNIGHT 7/ 18,042,062 7,415 X 6 .70 0 03 6.45-6 .85 78 3 1 .2 FED FUNDS

ONE MONTH AND UNDER (EXCL OVERNIGHT) 9,138,063 657 18 7 .11 0. 17 6.51-7 .43 77 .1 7 .7 DOMESTIC

-FIXED RATE 7,227,320 844 18 6 .98 0 16 6.47-7 .19 76 6 4 .7 DOMESTIC -FLOATING RATE 1,910,743 358 20 7 .61 0 19 6.66-8 .33 79 0 19 .0 PRIME

OVER ONE MONTH AND UNDER A YEAR 10,836,499 126 135 7 .97 0 21 6.79-8 .65 72 8 7 .8 PRIME

-FIXED RATE 5,317,993 130 96 7 .78 0. 24 6.70-8 23 74 .0 9 .5 FOREIGN -FLOATING RATE 5,518,506 123 171 8 .16 0 19 6.98-8 .87 71 .6 6 .1 PRIME

DEMAND 8/ 6,306,616 174 X 8 .01 0 12 6.91-8 .84 80 .7 5 .7 PRIME -FIXED RATE 1,560,525 618 X 6 .93 0 35 6.38-7 11 76 6 4 2 FED FUNDS -FLOATING RATE 4,746,092 141 X 8 .37 0 10 7.76-8 87 82 0 6 2 PRIME

TOTAL UNDER ONE YEAR 44,323,240 320 43 7 .28 0. 12 6.54-7 .76 77 0 4 .8 FED FUNDS -FIXED RATE

BY SIZE ($1,000) 31,768,686 584 22 6 .96 0. 07 6.49-7 .11 77 3 3 5 FED FUNDS 1-24 295,394 8 106 11 .24 0. 26 9.93-12 55 18 8 0 .1 OTHER

25-49 163,721 32 107 10 .22 0 30 4.83-11 73 32 9 0 1 PRIME 50-99 197,270 64 112 10 .18 0. 26 8.87-11 36 18 3 0 .9 PRIME

100-499 597,956 213 130 9 .14 0. 23 8.03-10 47 51 1 1 .1 PRIME 500-999 280,882 677 60 7 .51 0 09 6.79-7 .79 80 9 4 .5 PRIME 1000+ 30,233,463 7,874 18 6 .83 0. 04 6.48-6 .98 79 0 3 .7 FED FUNDS

-FLOATING RATE BY SIZE ($1,000) 12,554,554 149 126 8.10 0 13 6.98-8 .84 76 4 8 .0 PRIME

1-24 407,448 9 158 9 ,70 0 11 8.84-10 25 71 0 3 9 PRIME 25-49 455,089 34 161 9 .54 0 10 8.82-9, .93 72 8 4 1 PRIME 50-99 765,387 66 158 9 .29 0 .09 8.57-9 .92 70 8 1 .7 PRIME

100-499 2,464,770 196 143 8 .75 0 05 7.85-9 .38 76 1 4 .1 PRIME 500-999 1,178,220 640 168 8 .45 0 07 7.76-9 .11 80 8 6 2 PRIME 1000+ 7,283,639 3,978 110 7 .53 0 11 6.58-8i .30 77 0 10 7 PRIME

MONTHS TOTAL ONE YEAR AND OVER

-FIXED RATE BY SIZE (11,000)

1-99 100-499 500-999 1000+

-FLOATING RATE BY SIZE ($1,000)

1-99 100-499 500-999 1000+

6,635,616 265 54 8.24 0.19 7.49-9.04 76 5

1,799,667 179 51 8.08 0.32 6.99-8.84 67 6 144,382 16 45 11.35 0.44 9.49-12.40 19 .6 132,431 195 85 9.49 0.18 8.30-10.75 24 .9 57,597 696 60 9.92 0.47 9.76-11.02 21 .5

1,465,256 8,109 49 7.56 0.54 6.79-8.06 78 .1

4,836,150 322 54 8.30 0.17 7.71-9.04 79 .8 273,875 25 37 9.41 0.16 8.57-9.96 56 .8 563,406 194 46 8.79 0.11 8.03-9.38 65 .8 450,929 652 47 8.49 0.11 7.76-8.84 76 2

3,547,940 5,521 58 8.11 0.22 7.64-8.84 84 .3

7.9

o!o 17.7

0.0 0.8

a PRIME

DOMESTIC PRIME OTHER PRIME

DOMESTIC

PRIME PRIME PRIME PRIME PRIME

DAYS LOAN RATE (PERCENT) PRIME

EFFECTIVE 3/

NOMINAL 9/

RATE 10/

2. LOANS MADE BELOW PRIME 11/

OVERNIGHT 7/ 17,572,718 9,467 X 6. 66 6.45 7.50 78 2 1.3

ONE MONTH AND UNDER (EXCL OVERNIGHT) 7,413,630 4,110 17 6 74 6.53 7.51 78 2 7.6

OVER ONE MONTH AND UNDER A YEAR 4,828,488 907 126 6 .81 6.62 7.60 76 .7 12.8

DEMAND 8/ 2,060,771 2,561 X 6 .64 6.48 7.51 76 .8 3.4

TOTAL UNDER ONE YEAR -FIXED RATE -FLOATING RATE

31,875,608 27,957,590 3,918,017

3,256 4,042 1,365 ,!! 6

6 6

.70

.70

.71

6.50 6.50 6.51

7.52 7.51 7.56

" : 2 78.3

4.7

ioil

1 MONTHS 1

14.6

2?:i

TOTAL ONE YEAR AND OVER -FIXED RATE -FLOATING RATE

1,927,756 935,092 992,664 iilii

47 51 44

6.80 6.73 6.87

6,64 6.60 6.67

111 7.80

89.5 86.2 92.7

14.6

2?:i

SEE LAST PAGE FOR FOOTNOTES



TABLE 2 COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY LARGE BANKS 1/

LOAN RATE (PERCENT) PERCENTAGE OP AMOUNT OF LOANS MADE UNDER*

MOST COMMON BASE

PRICING RATE

6/

LOAN CHARACTERISTICS AMOUNT OF LOANS (•1,000)


WEIGHTED AVERAGE

MATURITY 2/

DAYS

WEIGHTED AVERAGE

EFFECTIVE 3/

STANDARD ERROR

4/



ALL C a I LOANS

OVERNIGHT 7/ 12,542,083 9,774 X 6.74 0.04 6.45-6 .88 80.1 1.2 FED FUNDS

ONE MONTH AND UNDER (EXCL OVERNIGHT) 6,537,372 2,953 18 6.95 0.04 6.53-7 .21 79.7 4.3 DOMESTIC

-FIXED RATE 5,695,923 4,798 17 6.88 0.03 6.47-7 .19 78.6 3.5 DOMESTIC -FLOATING RATE 841,449 820 21 7.40 0.13 6.76-7 .78 87.3 9.1 PRIME

OVER ONE MONTH AND UNDER A YEAR 6,518,756 831 123 7.49 0.09 6.70-8 .23 81.6 5.6 DOMESTIC

-FIXED RATE 3,643,926 2,269 82 7.40 0.10 6.70-8 .23 88.5 5.4 FOREIGN -FLOATING RATE 2,874,830 461 175 7.61 0.14 6.65-8 .33 73.0 5.8 PRIME

DEMAND 8/ 3,110,547 354 X 7.78 0.17 6.70-8 .77 75.9 5.1 PRIME -FIXED RATE 811,651 3,095 X 6.80 0.64 6.37-6 .75 59.0 1.5 FED FUNDS -FLOATING RATE 2,298,896 269 X 8.12 0.15 7.71-8 .84 81.9 6.3 PRIME

TOTAL UNDER ONE YEAR 28,708,758 1,425 37 7.07 0.05 6.51-7 .49 79.9 3.3 FED FUNDS -FIXED RATE

BY SIZE ($1,000) 22,451,611 5,233 19 6.89 0.06 6.49-7 .10 80.6 2.5 FED FUNDS 1-24 8,266 10 92 10.03 0.31 8.96-10 .48 37.4 0.9 PRIME

25-49 7,285 33 75 9.30 0.30 8.78-9 .92 36.6 0.0 PRIME 50-99 13,041 64 71 9.14 0.35 8.33-9 .92 45.4 3.1 PRIME

100-499 99,787 224 63 8.18 0.14 7.59-8 .81 71.6 3.9 PRIME 500-999 159,883 677 48 7.54 0.14 6.79-7 .79 79.5 4.7 DOMESTIC 1000+ 22,163,348 9,394 19 6.87 0.06 6.48-7 .09 80.7 2.5 FED FUNDS

-FLOATING RATE .09 80.7 FED FUNDS

BY SIZE ($1,000) 6,257,146 395 132 7.73 0.10 6.72-8 .51 77.5 6.2 PRIME 1-24 61,632 11 129 9.36 0.15 8.77-9 .96 77.1 0.4 PRIME

25-49 78,033 34 136 9.21 0.08 8.57-9 .92 73.8 0.7 PRIME 50-99 161,312 67 139 9.02 0.07 8.30-9 .65 74.5 0.7 PRIME

100-499 774,947 206 140 8.63 0.05 7.79-9 .11 81.2 1.4 PRIME 500-999 418,935 653 141 8.33 0.11 7.76-8 .87 82.6 5.5 PRIME 1000+ 4,762,288 4,668 130 7.44 0.11 6.57-8.24 76.6 7.4 PRIME

| MONTHS | TOTAL ONE YEAR AND OVER 4,471,849 1,011 5* 8.09 0.17 7.06-8. 77 83.3 4.4 PRIME

-FIXED RATE PRIME

BY SIZE ($1,000) 1,229,545 2,779 50 7.90 0.32 6.99-8. 06 78.3 1.0 DOMESTIC 1-99 6,918 29 50 10.93 0.89 9.17-11. 57 23.3 0.0 PRIME

100-499 15,600 217 56 9.46 0.24 8.47-10. 47 42.4 5.0 PRIME 500-999 12,550 702 86 9.12 0.72 7.25-12. 13 67.3 0.0 DOMESTIC 1000+ 1,194,478 10,122 50 7.85 0.29 6.99-8. 06 79.2 0.9 DOMESTIC

-FLOATING RATE DOMESTIC

BY SIZE ($1,000) 3,242,304 815 62 8.17 0.21 7.64-9. 04 85.2 5.7 PRIME 1-99 81,289 35 23 8.70 0.20 8.03-8. 87 86.0 0.7 PRIME 100-499 197,256 211 39 8.52 0.05 7.98-9. 04 89.7 7.2 PRIME 500-999 161,682 662 52 8.20 0.15 7.71-8. 77 94.3 11.6 PRIME 1000+ 2,802,077 6,302 65 8.13 0.24 7.64-9. 04 84.3 5.4 PRIME

1 DAYS LOAN RATE (PERCENT)

PRIME EFFECTIVE

3/ NOMINAL

9/ RATE

10/


OVERNIGHT 7/ 12,118,445 10,976 X 6 .69 6.47 7 .50 80 .1 1 3

ONE MONTH AND UNDER (EXCL OVERNIGHT) 5,718,113 6,128 17 6 .76 6.55 7 .50 79 .0 4 3

OVER ONE MONTH AND UNDER A YEAR 3,718,708 5,801 134 6 .77 6.58 7 .50 80 .9 7 .1

DEMAND 8/ 1,215,213 4,096 X 6 .57 6.43 7 50 62 3 1 .0


22,770,479 20,027,982 2,742,497

7,654 l:ll I 28 17

129

6 6 6

.71

: 8 i:i! 7 7 7 :li 50 II:! 3

2 5

.0

.6

.7


1 MONTHS 1 1


1,373,605 674,229 699,376

5,719 8,960 4,240

4* 50 48

6 7 6

90 01 80

6.76 6.91 6.61

7 7, 7.

50

18 Si: 4 2 5 4 0 8,

.5 0 9



E.2

SURVEY OF TERMS OF BANK LENDING MADE DURING NOVEMBER 3-7, 19*6

TABLE 3 COMMERCIAL AND INDUSTRIAL LOANS (OTHER THAN CONSTRUCTION AND LAND DEVELOPMENT) MADE BY OTHER BANKS 1/

LOAN RATE (PERCENT) PERCENTAGE OP AMOUNT MOST OF LOANS MADE UNDERt COMMON

AMOUNT AVERAGE WEIGHTED WEIGHTED INTER- BASE LOAN CHARACTERISTICS OF LOANS SIZE AVERAGE AVERAGE STANDARD QUARTILE PRICING

($1,000) ($1,000) MATURITY EFFECTIVE ERROR RANGE COMMITMENT PARTICIPATION RATE 2/ 3/ 4/ 5/ 6/

DAYS 1. ALL C 4 I LOANS

OVERNIGHT 7/ 5,499,979 4,783 X 6.62 0.02 6.45-6.71 74.3 1.2 FED FUNDS

ONE MONTH AND UNDER CEXCL OVERNIGHT) 2,600,692 222 20 7.52 0.28 6.49-8.05 70.5 16.3 PRIME

-FIXED RATE 1,531,398 208 20 7.34 0.30 6.49-7.63 69.1 9.0 OTHER -FLOATING RATE 1,069,294 248 19 7.77 0.34 6.38-8.84 72.4 26.8 PRIME

OVER ONE MONTH AND UNDER A YEAR 4,317,742 55 152 8.69 0.14 7.71-9.42 59.5 11.1 PRIME -FIXED RATE 1,674,066 43 128 8.59 0.25 6.94-10.35 42.6 18.4 OTHER -FLOATING RATE 2,643,676 68 167 8.75 0.11 7.76-9.38 70.2 6.5 PRIME

DEMAND 8/ 3,196,069 116 X 8.24 0.12 7.70-8.84 85.3 6.4 PRIME -FIXED RATE 748,874 331 X 7.06 0.31 6.41-7.11 95.7 7.2 FED FUNDS -FLOATING RATE 2,447,195 97 X 8.59 0.03 7.76-9.11 82.1 6.1 PRIME

TOTAL UNDER ONE YEAR 15,614,483 132 58 7.67 0.14 6.56-8.57 71.8 7.5 PRIME -FIXED RATE

BY SIZE ($1,000) 9,317,075 186 29 7.13 0.11 6.50-7.11 69.4 6.0 FED FUNDS 1-24 287,127 8 107 11.28 0.23 9.93-12.56 18.3 0.0 OTHER

25-49 156,436 32 109 10.26 0.38 8.84-11.73 32.8 0.1 PRIME 50-99 184,229 64 115 10.25 0.28 8.87-11.58 16.4 0.8 PRIME

100-499 498,169 211 144 9.33 0.26 8.27-10.47 47.0 0.6 PRIME 500-999 120,999 676 76 7.49 0.12 6.82-7.76 82.8 4.3 OTHER 1000+ 8,070,115 5,452 16 6.71 0.05 6.45-6.85 74.3 6.8 FED FUNDS

-FLOATING RATE BY SIZE ($1,000) 6,297,408 92 120 8.48 0.10 7.76-9.32 75.4 9.7 PRIME

1-24 345,816 9 161 9.77 0.08 8.84-10.47 69.9 4.6 PRIME 25-49 377,056 34 164 9.61 0.15 8.84-9.95 72.6 4.8 PRIME 50-99 604,075 65 161 9.35 0.14 8.57-9.92 69.9 1.9 PRIME

100-499 1,689,824 192 144 8.80 0.08 8.03-9.38 73.8 5.3 PRIME 500-999 759,286 632 181 8.51 0.08 7.76-9.11 79.9 6.6 PRIME 1000+ 2,521,351 3,110 72 7.70 0.18 6.58-8.33 77.7 16.8 PRIME

1 MONTHS 1 TOTAL ONE YEAR AND OVER 2,163,968 105 45 8.54 0.28 7.71-9.38 62.5 15.0 PRIME

-FIXED RATE 62.5 15.0 PRIME

BY SIZE ($1,000) 570,122 59 53 8.48 0.58 6.72-10.52 44.6 4.0 OTHER 1-99 137,465 15 45 11.37 0.24 9.50-12.47 19.4 0.0 OTHER

100-499 116,832 192 88 9.49 0.29 8.30-10.75 22.6 19.3 OTHER 500-999 45,046 694 53 10.14 0.56 9.79-11.02 8.7 0.0 PRIME 1000+ 270,779 4,319 43 6.29 1.04 4.75-8.43 72.8 0.0 OTHER

-FLOATING RATE 4.75-8.43 72.8 OTHER

BY SIZE ($1,000) 1,593,846 144 40 8.56 0.23 7.76-9.31 68.9 19.0 PRIME 1-99 192,586 23 43 9.71 0.15 8.84-10.47 44.5 1.3 PRIME

100-499 366,150 185 50 8.94 0.18 8.30-9.42 52.9 5.8 PRIME 500-999 289,247 647 45 8.66 0.10 7.79-9.38 66.2 10.8 PRIME 1000+ 745,862 3,766 32 8.04 0.37 7.45-8.77 84.1 33.3 PRIME

DAYS LOAN RATE (PERCENT) PRIME


EFFECTIVE 3/

NOMINAL 9/

RATE 10/


OVERNIGHT 7/ 5,454,273 7,251 X 6 .61 6 .40 7.50 74 .1 1 .4

ONE MONTH AND UNDER (EXCL OVERNIGHT) 1,695,517 1,947 17 6 .69 6.48 7.56 75 .4 18 .7

OVER ONE MONTH AND UNDER A YEAR 1,109,780 237 101 6 .97 6 .77 7.93 62 .8 32 .1

DEMAND 8/ 845,559 1,665 X 6 .74 6 .56 7.53 97 .7 6 9


9,105,129 7,929,609 1,175,520

1,336 ''III * 6 6 6

.68

.67

.75

6 6 6

.47

.46

.54 IS 11:! 8 7

20

9 1 6


1 | MONTHS 1

1 TOTAL ONE YEAR AND OVER

-FIXED RATE -FLOATING RATE

554,151 260,864 293,287

399 in 43 §5 6 5 7

.54

.99

.03

6 5 6

34 .80 .81 1:11 11: 0 5 5 39

8 67

6 3 5



E 2


TABLE 4 CONSTRUCTION AND LAND DEVELOPMENT LOANS (SECURED AND UNSECURED BY REAL ESTATE)

WEIGHTED LOAN RATE (PERCENT? PERCENTAGE OF AMOUNT

AMOUNT OF LOANS

AVERAGE # SIZE

WEIGHTED OF LOAMS MADF lllinFB. LOAN CHARACTERISTICS

AMOUNT OF LOANS

AVERAGE # SIZE

AVERAGE MATURITY

WEIGHTED AVERAGE STANDARD

INTER-LOAN CHARACTERISTICS AMOUNT

OF LOANS AVERAGE

# SIZE AVERAGE

MATURITY WEIGHTED AVERAGE STANDARD QUARTILE ($1,000) ($1,000) (MONTHS)

2/ EFFECTIVE

3/ ERROR

4/ RANGE


1. ALL BANKS 1/ 1,824,092 112 9 8.84 0.26 7.90-9.38 78.6 17.2 FIXED RATE

BY SIZE ($1,000) 1-24

25-49 50-99

100-499 500+

FLOATING RATE

866,332 58,913

33,614 683,153

V . J i

5 7

11 11 4

8.79 12.29 11.91 11.61 10.44 8.02

lit !:!? 0.50 0.22

7.90-9.11 11.57-12.40 11.03-12.40 10.43-13.49 9.65-11.58 7.86-8.17

83.3

1 ! 90.2

1 1

BY SIZE ($1,000) 1-24

25-49 50-99

100-499 500+

957,760 49,853 32,736 49,785

242,978 582,408

109 9

32

183 1,959

14 10 8 9

12 15

8.87

S B 8.85 8.74

0.16 0.16 0.28 0.18

8 : »

8.30-9.38 8.87-18.20 8.84-9.78 8.84-9.92 8.57-9.65 8.03-9.38

74.3 83.8 74.9

»:• 1! BY TYPE OF CONSTRUCTION

SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL

408,526 231,210

1,184,355

37

III 13 8 9

9.93 8.26 8.57

!!:i§ 0.19

8.84-11.03 7.72-8.57 7.90-9.06

76.2 64.6 82.1

2.2

2I.I

2. LARGE BANKS 1/ 1,052,717 838 7 8.25 0.17 7.85-8.57 86.1 22.8 FIXED RATE

22.8

BY SIZE C$1,000) 1-24

25-49

646,615 1,470

2,297 10

3 7

7.99 10.49

0.47 0.55

7.86-8.05 9.92-11.02 U:l III

50-99 * * X X 100-499 X * X X 500+

FLOATING RATE 638,358 7,167 3 7*98 0.02 7.86-8.05

X 91.4

X 33.5

BY SIZE ($1,000) 1-24

25-49 50-99

100-499 500+

406,102 3,612 4,086 6,562

57,411 334,430

417 10 34 71

209 2,350

12 13 16 17 13 12

8.67 9.08 9.06

M i 8.61

0.17 0.21

o.'il 0.14 0.20

7.76-9.11 8.57-9.38 8.30-9.84 8.30-9.38 8.57-9.38 7.76-9.06

78.1 93.4 81.8 94.6 88.6 75.8

1:1

< 1 BY TYPE OF CONSTRUCTION

SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL

52,643 206,224 793,850

123 940

1,305

13 7 6

9.08

i:i! 0.19 0.20 0.13

8.84-9.38 7.72-8.24 7.90-8.43

78.9 63.6 92.4

8.5

29.4

L OTHER BANKS 1/ 771,375 51 14 9.63 0.38 8.84-9.96 68.4 9.6 FIXED RATE

BY SIZE ($1,000) 1-24

25-49 50-99

100-499 500+

219,717 57,443 36,753 52,495 28,231

30 11 37 71

174

11 7

13 19 10

11.15 12.34 11.95 11.62 10.83

0.53 0.48 0.78 0.52 0.79

9.84-12.13 11.58-12.57 11.03-12.40 10.47-13.49 10.47-11.58

60.5 71.1 71.4 15.8 87.0

0.0 0.1 0.0 0.0 0.0

FLOATING RATE X X X BY SIZE ($1,000)

1-24 25-49 50-99

100-499 500+

551,658 46,240 28,649 43,224

185,567 247,978

70 9

32

176 1,599

15 10 7 8

21

til 9.27 8.83 8.92

0.13 0.44 0.09

oil?

8.84-9.42 9.11-10.25 8.84-9.77 8.84-9.92 8.69-9.92 8.84-9.38

m 71.3 78.6 63.9

'?:}

!:! 24.0

BY TYPE OF CONSTRUCTION SINGLE FAMILY MULTIFAMILY NONRESIDENTIAL

355,883 24,986

390,505

33 58

100

13 9

16

10.06 11! 0.58 0.29 0.26

8.84-11.58 8.30-9.84 8.84-9.42

?!:! 61.3 M

NOTE, 47.9 PERCENT OF CONSTRUCTION AND LAND DEVELOPMENT LOANS HERE PRICED RELATIVE TO THE PRIME RATE


* FEWER THAN 10 SAMPLE LOANS.


(thousands)

iM sizes si-e $10-24 $25-40 m-m $100-240 $250 and over

$ 9 B y , 6 6 0 $ 9 7 , 7 3 5 $ 1 3 5 , 5 4 9 $ 1 1 8 , 4 0 1 $ 1 8 1 , 8 0 6 $ 1 8 7 , 4 9 5 $ 2 6 8 , 6 7 4 4 4 , 0 3 4 2 7 , 2 0 9 8 , 9 5 2 3 , 4 6 0 2 , 7 3 2 1 , 2 8 5 397

8 - 3 5 . 5 7 . 4 7 . 9 1 2 . 1 5 . 5 9 . 4

1 0 . 9 7 1 1 . 8 7 1 1 . 3 5 1 1 . 3 4 1 0 . 9 9 10. n 9 . 9 8 . 4 9 . 2 9 . 4 1 . 5 8 . * 6 . 2 6 . 3 9

9 . 6 5 - 1 2 . 0 1 1 1 . 0 7 - 1 2 . 6 8 1 0 . 5 2 - 1 2 . 1 0 1 0 . 5 9 - 1 2 . 3 5 1 0 . 2 0 - 1 2 . 1 0 9 . 3 1 - 1 2 . 2 6 8 . 3 0 - 1 1 . 3 5

1 0 . 7 7 1 1 . 7 8 1 1 . 1 4 1 1 . 7 0 1 0 . 9 7 1 1 . 0 9 9 . 48 1 0 . 6 5 1 1 . 8 1 1 1 . 6 4 1 1 . 4 0 1 0 . 2 0 9 . 7 6 • 1 1 . 1 0 1 1 . 7 7 1 1 . 4 0 1 1 . 1 1 1 1 . 2 8 1 0 . 9 2 1 0 . 7 1 1 1 . 9 3 1 2 . 8 0 1 1 . 8 3 $ * $ #

9 . 9 6 1 0 . 7 2 1 0 . 9 8 * * * *

1 0 . 2 0 1 2 . 1 1 1 0 . 7 5 1 0 . 9 7 1 0 . 9 7 1 0 . 7 7 $

5 4 . 5 4 3 . 4 3 9 . 4 4 3 . 4 4 1 . 2 5 7 . 1 7 8 . 3 1>1.6 3 2 . 7 2 9 . 3 3 2 . 0 3 8 . 4 5 5 . 3 8 4 . 7

3 1 . 4 1 5 . 2 1 6 . 9 3 7 . 3 4 1 . 4 3 9 . 9 2 9 . 4 6 . 8 8 - 2 9 . 0 9 . 8 9 . 7 4 . 8 e

4 6 . 5 5 9 . 5 4 7 . 0 4 2 . 9 3 6 . 7 4 1 . 7 5 3 . 0 2 . 7 7 . 0 13 .1 • # * $

1 . 1 . 7 3 . 1 $ $ $ *

1 1 . 4 9 . 4 11 .0 8 . 6 1 1 . 3 1 3 . 0 •

$ 2 4 8 , 2 1 0 $ 7 , 4 9 5 $ 1 3 , 9 1 9 $ 1 6 , 9 5 1 $ 2 5 , 5 1 2 $ 5 7 , 6 0 7 $ 1 2 6 , 7 2 6 4 , 2 0 6 1 , 8 4 8 907 500 392 394 164

6 . 6 6 . 7 6 . 7 5 . 8 5 . 8 6 . 5 7 . 0

8 . 8 8 9 . 9 0 9 . 6 7 9 . 3 4 9 . 19 8 . 9 6 8 . 5 8 . 4 5 . 2 5 . 3 7 . 5 6 . 3 9 . 1 4 . 3 4

8 . 12- 9 . $ 8 9 . 0 0 - 1 0 . 3 8 8 . 8 4 - 1 0 . 2 0 8 . 7 8 - 9 . 9 3 8 . 7 7 - 9 . 6 5 8 . 3 0 - 9 . 5 8 7 . 9 0 - 9 . 3 1

S . 82 9 . 3 0 9 . 46 9 . 4 5 9 . 14 9 . 1 8 9 . 5 7 9 . 1 1 9 . 5 7 10. 09 8 . 9 6 8 . 9 9 9 . 1 2 • 8 . 9 4 1 0 . 0 3 9 . 6 4 9 . 4 3 9 . 5 0 8 . 7 7 8 . 5 3

1 0 . 0 9 1 0 . 8 7 10 .14 # $ * • 9 . 1 5 1 0 . 6 0 * * * * #

8 . 6 9 9 . 6 8 9 . 6 6 9 . 0 7 9 - 1 3 8 . 9 0 #

8 3 . 1 8 4 . 2 8 3 . 2 9 2 . 7 9 8 . + 9 6 . 9 7 2 . 3 dO. 9 7 1 . 4 6 9 . 6 8 0 . 4 9 0 . 2 9 2 . 0 7 5 . 9

3 1 . 0 1 8 . 7 1 1 . 5 1 9 . 2 2 2 . 7 3 0 . 4 3 7 . 4 9 . 0 3 . 6 5 . 0 9 . 7 1 6 . 7 1 1 . 5 *

3 2 . 7 5 3 . 5 5 6 . 2 4 7 . d 2 2 . 7 4 0 . 5 2 5 . 4 1 . 2 4 . 5 4 . 8 $ * • •

2 . 9 5 . 6 $ $ # * *

z J . 1 1 4 . 0 2 0 . 6 1 7 . 2 3 1 . 6 1 5 . 5 •

$ 7 4 1 , 4 5 1 $ 9 0 , 2 4 0 $121 ,630 $ 1 0 1 , 4 5 0 $ 1 5 6 , 2 9 4 $ 1 2 9 , 8 8 9 $

3 9 , 8 2 8 2 5 , 3 6 1 8 , 0 4 5 2 , 9 6 0 2 , 3 4 0 891 •

8 . 6 5 . 4 7 . 4 8 . 2 1 2 . 8 5 . 1 *

11 .54 1 2 . 0 4 11 .54 11 .67 1 1 . 2 7 1 1 . 7 5 • . 1 8 . 1 3 . 1 5 . 1 1 . 5 3 . 2 1 *

1 1 . 0 4 - 1 2 . 2 2 1 1 . 3 1 - 1 2 . 7 3 1 1 . 0 4 - 1 2 . 23 1 1 . 0 5 - 1 2 . 4 4 1 0 . 5 2 - 1 2 . 13 1 1 . 7 8 - 1 2 . 3 6 $

1 1 . 4 1 1 2 . 0 3 1 1 . 2 6 1 1 . 6 8 11- 12 * *

1 1 . 4 2 1 1 . 8 8 1 1 . 7 3 * * *

1 1 . 5 6 1 1 . 9 0 1 1 . 6 5 1 1 . 4 3 1 1 . 4 5 * *

1 j . 16 1 2 . 9 0 11 .90 * • * » $ $ * $ $ e •

1 1 . 7 7 1 2 . 4 2 11 .00 11 .74 * $ . $

4 5 . 0 4 0 . 0 3 4 . 4 3 5 . 2 3 1 . 8 3 9 . 4 $

4 1 . 8 2 9 . 5 2 4 . 7 2 4 . 0 2 9 . 9 3 9 . 0 •

3 1 . 6 1 4 . 9 1 7 . 5 4 0 . 3 4 4 . 5 * $

6 . 1 8 . 5 9 . 4 • $ * $

5 1 . 1 6 0 . 0 4 6 . 0 4 2 . 1 3 9 . 0 * s 3 . 3 7 . 2 14 .0 » # * • • » * * • * •

7 . 5 9 . 0 9 . 9 7 . 1 • # *

ALL BANKS Amount of loans (thousands* Number of loans. Weighted average maturity (months)2

Weighted Standard error* Interquartile By purpose of loan:

rate (S)3

Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other

Percentage of amount of loans: With floating rates Made under commitment By purpose of loan:

Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other

LARGE BANKS11

Amount of loans (thousands) Number of loans Weighted average maturity (months)2

Weighted average Intereet rate (%)» Standard error4

Interquartile range8

By purpose of loan: Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate Other


Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real estate . Other

OTHER BANKS" Amount of loans (thousands) Number of loans Weighted average maturity (months)*

Weighted average Interest rate (%)' Standard error4

Interquartile range8

By purpoee of loan: Feeder livestock Other livestock Other current operating expenses Farm machinery and equipment Farm real eetate Other


Feeder livestock Other livestock Other current operating expenses

Farm real estate Other

See last page for notes to tables •Fewer than 10 sample loans


e2_19861223.pdf

Documents

average federal funds

base rate information

lowest average rate

average loan rates

prevailing prime rate

industrial loans

overnight loans

marketrelated loans