FEDERAL RESERVE statistical release

E.2

For Immediate Release
June 17, 1998

SURVEY OF TERMS OF BUSINESS LENDING, MAY 4-8, 1998
TABLE 1
Commercial and Industrial loans made by all commercial banks1
Risk2 and
maturity/repricing
interval3 of loans

WeightedAverage
Effective
Loan Rate4
(percent)

Percent of Amount of Loans
Amount of
Loans
($ millions)

Average
Loan Size
($ thousands)

WeightedAverage
Maturity5

Secured by
Collateral

Callable

Subject to
Prepayment
Penalty

Made Under
Commitment

Most
Common
Base
Pricing Rate6

Days
1 All C&I loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other

6.80
6.13
6.26
6.86
7.08

134,664
7,025
30,549
49,989
31,379

805
1,295
1,692
655
852

269
109
158
349
237

36.6
49.3
24.4
34.1
42.5

11.7
4.0
7.2
16.3
11.0

31.0
67.0
50.9
21.9
31.6

73.5
91.6
81.5
77.0
66.3

Foreign
Foreign
Foreign
Foreign
Fed Funds

6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10 Other

8.46
7.89
7.34
8.51
9.16

19,319
331
2,438
7,286
3,696

268
257
421
199
173

697
517
485
836
684

56.3
14.7
34.4
50.0
59.0

13.6
23.4
14.5
20.6
14.1

8.4
42.3
9.6
10.5
10.3

70.4
96.7
88.1
90.5
97.1

Prime
Prime
Other
Prime
Prime

11 Daily
12 Minimal risk
13 Low risk
14 Moderate risk
15 Other

6.19
5.88
6.03
6.27
6.28

60,675
4,191
17,948
19,028
14,086

2,293
6,243
7,524
1,598
2,716

83
53
49
132
73

34.5
73.0
20.8
37.4
39.7

10.3
1.2
5.9
18.9
6.5

37.3
79.6
58.5
14.1
39.9

63.3
92.5
77.2
60.5
36.7

Fed Funds
Foreign
Foreign
Fed Funds
Fed Funds

16 2 to 30 days
17 Minimal risk
18 Low risk
19 Moderate risk
20 Other

6.68
6.27
6.20
6.50
7.32

26,180
1,313
4,951
11,154
5,578

1,212
1,910
2,686
1,753
1,384

154
83
210
143
165

24.3
11.1
16.3
15.9
42.0

12.6
7.9
5.4
17.1
8.2

29.0
69.4
48.2
26.5
22.7

83.0
98.7
87.4
80.6
86.6

Foreign
Domestic
Foreign
Domestic
Foreign

21 31 to 365 days
22 Minimal risk
23 Low risk
24 Moderate risk
25 Other

6.96
6.20
6.50
6.99
7.23

24,877
1,108
4,496
10,849
7,381

763
547
679
736
1,800

381
135
213
500
310

35.4
12.5
37.4
32.7
37.8

11.4
3.8
8.8
8.8
19.0

37.1
28.3
53.4
36.4
33.7

91.0
80.8
89.6
93.8
91.4

Foreign
Foreign
Foreign
Foreign
Foreign

62.3
84.5
63.6
57.1
61.9

8.6
5.4
4.1
5.5
19.4

26.7
0.7
1.2
41.4
30.5

66.2
22.4
70.0
69.3
66.2

Other
Other
Other
Other
Prime

84.5
69.0
38.1
30.3

32.6
23.0
14.2
8.5

4.9
14.0
29.2
34.9

78.5
86.5
83.2
67.7

Prime
Prime
Foreign
Fed Funds

Months
26 Over 365
27 Minimal risk
28 Low risk
29 Moderate risk
30 Other

7.97
7.77
7.53
7.78
8.63

2,923
44
591
1,495
474

245
109
484
269
287

WeightedAverage Risk
Rating2

Size and base rate

48
93
44
42
55
WeightedAverage
Maturity/
Repricing
Interval3
Days

31
32
33
34

Size ($thousands)
1 - 99
100 - 999
1,000 - 9,999
10,000+

9.68
8.65
7.25
6.29

2,779
11,233
34,497
86,155

3.2
3.1
3.1
2.9

149
119
74
24

Average Size
($thousands)
Base rate6
35
36
37
38
39

Prime7
Fed funds
Other domestic
Foreign
Other

Footnotes appear on the last page.

8.96
6.03
6.17
6.59
6.89

21,163
36,186
16,886
40,550
19,880

3.2
3.4
2.9
2.7
2.8

84
10
16
47
102

62.9
30.8
15.3
42.5
25.4

20.7
6.6
34.7
4.8
5.7

9.2
26.5
31.0
48.6
26.1

77.8
39.8
77.7
94.6
83.5

195
9,367
3,277
3,917
506

E.2

For Immediate Release
June 17, 1998

SURVEY OF TERMS OF BUSINESS LENDING, MAY 4-8, 1998
TABLE 2
Commercial and Industrial loans made by domestic banks1

Risk2 and
maturity/repricing
interval3 of loans

WeightedAverage
Effective
Loan Rate4
(percent)

Percent of Amount of Loans
Amount of
Loans
($ millions)

Average
Loan Size
($ thousands)

WeightedAverage
Maturity5

Secured by
Collateral

Callable

Subject to
Prepayment
Penalty

Made Under
Commitment

Most
Common
Base
Pricing Rate6

Days
1 All C&I loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other

7.23
6.41
6.58
7.14
7.81

70,741
2,686
11,280
29,986
12,737

453
524
710
417
386

419
265
331
492
356

37.1
12.5
24.1
36.1
47.2

13.8
8.8
15.1
17.1
9.1

9.9
38.8
17.7
8.4
8.2

73.3
80.1
80.9
76.0
87.6

Prime
Other
Other
Prime
Prime

6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10 Other

8.41
7.85
7.29
8.44
9.13

18,186
318
2,349
6,680
3,272

260
251
424
187
161

693
523
471
825
693

57.1
15.3
32.6
51.3
60.8

12.2
21.5
13.5
18.6
13.0

8.4
44.2
9.0
11.1
10.1

68.6
96.5
88.3
89.7
96.8

Prime
Prime
Other
Prime
Prime

11 Daily
12 Minimal risk
13 Low risk
14 Moderate risk
15 Other

6.57
6.11
6.26
6.55
7.25

21,932
1,103
3,642
9,811
2,736

922
2,055
2,344
898
605

185
197
204
231
158

28.4
5.0
20.2
37.4
40.2

21.5
4.5
24.7
27.2
11.6

4.8
25.5
10.9
3.0
0.6

60.8
76.3
66.7
51.9
64.8

Fed Funds
Domestic
Domestic
Domestic
Prime

16 2 to 30 days
17 Minimal risk
18 Low risk
19 Moderate risk
20 Other

6.72
6.18
6.09
6.50
7.40

15,504
660
3,038
6,158
2,998

795
1,091
2,202
1,133
874

165
152
181
179
152

22.3
9.8
10.6
16.0
43.6

10.6
15.3
4.8
11.0
5.0

13.8
60.7
35.4
6.7
6.8

86.0
98.0
94.0
85.9
93.4

Other
Domestic
Domestic
Domestic
Other

21 31 to 365 days
22 Minimal risk
23 Low risk
24 Moderate risk
25 Other

7.08
6.16
6.86
7.11
7.17

11,926
529
1,543
5,803
3,195

412
269
256
440
1,171

491
189
299
665
249

33.9
19.3
33.0
30.5
38.0

6.3
3.3
13.8
5.9
4.5

13.5
41.9
19.0
9.9
13.2

88.4
59.8
81.2
91.9
95.0

Foreign
Foreign
Foreign
Foreign
Foreign

66.3
84.5
63.7
62.2
69.8

7.9
5.4
4.1
5.6
15.7

21.8
0.7
1.0
36.2
20.5

63.3
22.4
69.9
66.3
57.0

Other
Other
Other
Other
Prime

85.4
72.9
41.6
22.1

32.7
22.5
11.6
11.4

4.4
8.9
11.6
9.6

78.2
85.4
79.9
66.4

Prime
Prime
Prime
Domestic

Months
26 Over 365
27 Minimal risk
28 Low risk
29 Moderate risk
30 Other

7.99
7.77
7.53
7.84
8.72

2,690
44
590
1,364
372

230
109
488
248
251

WeightedAverage Risk
Rating2

Size and base rate

47
93
44
41
52
WeightedAverage
Maturity/
Repricing
Interval3
Days

31
32
33
34

Size ($thousands)
1 - 99
100 - 999
1,000 - 9,999
10,000+

9.71
8.81
7.47
6.52

2,713
9,621
20,478
37,929

3.2
3.1
3.0
2.9

150
128
91
37

Average Size
($thousands)
Base rate6
35
36
37
38
39

Prime7
Fed funds
Other domestic
Foreign
Other

Footnotes appear on the last page.

8.91
6.07
6.08
6.86
7.08

19,384
10,119
11,959
13,651
15,628

3.2
2.8
2.8
3.0
2.9

85
20
15
62
129

64.0
26.5
8.0
38.5
31.6

17.3
22.3
20.1
5.5
7.1

8.3
4.7
14.0
15.5
6.7

76.0
46.8
69.0
86.6
79.0

184
5,364
2,713
2,588
398

E.2

For Immediate Release
June 17, 1998

SURVEY OF TERMS OF BUSINESS LENDING, MAY 4-8, 1998
TABLE 3
Commercial and Industrial loans made by large domestic banks1

Risk2 and
maturity/repricing
interval3 of loans

WeightedAverage
Effective
Loan Rate4
(percent)

Percent of Amount of Loans
Amount of
Loans
($ millions)

Average
Loan Size
($ thousands)

WeightedAverage
Maturity5

Secured by
Collateral

Callable

Subject to
Prepayment
Penalty

Made Under
Commitment

Most
Common
Base
Pricing Rate6

Days
1 All C&I loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other

7.04
6.20
6.32
6.91
7.69

60,441
2,263
9,035
26,340
10,624

952
3,042
2,324
969
586

392
216
313
463
315

32.1
4.4
19.2
31.1
38.6

12.7
3.0
14.7
15.8
8.2

9.6
45.4
21.2
7.6
5.6

71.9
81.4
80.6
75.8
87.1

Prime
Domestic
Other
Domestic
Prime

6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10 Other

8.24
7.72
6.99
8.14
8.98

14,619
224
1,719
5,004
2,497

536
816
1,057
387
242

714
702
447
868
742

52.7
13.1
25.3
42.9
50.7

8.1
3.1
9.5
13.4
12.6

7.9
63.8
11.0
11.5
6.5

64.6
99.7
91.7
91.1
97.6

Prime
Prime
Other
Prime
Prime

11 Daily
12 Minimal risk
13 Low risk
14 Moderate risk
15 Other

6.50
6.06
6.24
6.51
7.24

20,220
1,010
3,217
9,370
2,566

1,135
4,032
3,150
1,059
661

184
182
227
231
161

27.7
1.4
22.0
37.3
36.8

22.2
1.0
27.7
27.3
11.5

5.0
27.8
12.3
2.7
0.3

58.7
76.3
62.8
51.7
62.8

Fed Funds
Domestic
Domestic
Domestic
Prime

16 2 to 30 days
17 Minimal risk
18 Low risk
19 Moderate risk
20 Other

6.61
6.03
6.02
6.41
7.33

14,020
566
2,769
5,836
2,580

1,244
7,564
4,984
3,137
1,388

159
130
191
174
127

18.5
1.9
8.1
13.2
35.9

10.3
8.4
3.8
10.6
4.0

13.2
69.4
37.4
5.0
4.1

85.2
100.0
93.8
85.9
93.0

Other
Domestic
Domestic
Domestic
Other

21 31 to 365 days
22 Minimal risk
23 Low risk
24 Moderate risk
25 Other

6.88
5.97
6.20
6.89
7.21

9,718
458
963
5,031
2,706

2,375
5,091
2,293
2,558
2,148

501
195
341
678
176

26.0
9.3
21.7
24.2
29.9

4.6
-12.8
4.1
3.6

12.3
47.2
29.0
7.9
9.0

90.4
61.0
80.3
94.6
95.1

Foreign
Foreign
Foreign
Foreign
Foreign

50.9
-44.2
50.0
49.3

0.7
--0.2
4.4

33.3
-1.2
47.1
32.3

72.2
-83.2
70.2
78.7

Other
-Other
Foreign
Prime

84.0
67.2
38.3
21.8

41.2
20.5
10.1
11.7

5.2
8.2
10.3
9.7

91.8
90.3
78.0
65.2

Prime
Prime
Prime
Domestic

Months
26 Over 365
27 Minimal risk
28 Low risk
29 Moderate risk
30 Other

7.39
-6.57
7.34
8.51

1,667
-328
1,002
220

1,018
-2,520
1,390
495

WeightedAverage Risk
Rating2

Size and base rate

38
-44
32
49
WeightedAverage
Maturity/
Repricing
Interval3
Days

31
32
33
34

Size ($thousands)
1 - 99
100 - 999
1,000 - 9,999
10,000+

9.42
8.64
7.44
6.51

1,112
5,952
17,252
36,125

3.4
3.3
3.0
2.9

44
53
68
37

Average Size
($thousands)
Base rate6
35
36
37
38
39

Prime7
Fed funds
Other domestic
Foreign
Other

Footnotes appear on the last page.

8.73
6.05
6.06
6.87
6.91

14,539
9,612
11,789
11,170
13,330

3.2
2.9
2.8
3.1
2.9

63
18
12
62
71

59.0
26.7
7.0
36.2
25.5

13.1
22.7
20.1
5.7
5.4

8.0
3.7
14.2
14.0
7.3

74.5
46.2
68.9
84.3
79.7

326
7,980
5,616
2,969
1,126

E.2

For Immediate Release
June 17, 1998

SURVEY OF TERMS OF BUSINESS LENDING, MAY 4-8, 1998
TABLE 4
Commercial and Industrial loans made by small domestic banks1

Risk2 and
maturity/repricing
interval3 of loans

WeightedAverage
Effective
Loan Rate4
(percent)

Percent of Amount of Loans
Amount of
Loans
($ millions)

Average
Loan Size
($ thousands)

WeightedAverage
Maturity5

Secured by
Collateral

Callable

Subject to
Prepayment
Penalty

Made Under
Commitment

Most
Common
Base
Pricing Rate6

Days
1 All C&I loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other

8.34
7.52
7.60
8.82
8.39

10,300
423
2,245
3,647
2,112

111
97
187
82
142

579
561
402
710
575

66.3
55.5
43.9
71.9
90.6

20.3
39.9
16.8
26.6
13.7

11.2
4.0
3.8
14.5
21.4

82.0
73.1
82.3
77.0
90.0

Prime
Other
Foreign
Prime
Prime

6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10 Other

9.12
8.14
8.09
9.33
9.62

3,566
94
630
1,676
775

83
95
161
73
77

599
158
538
691
537

75.4
20.5
52.5
76.2
93.0

29.0
59.7
24.5
34.2
14.3

10.1
3.6
3.6
10.0
21.2

85.3
89.1
79.1
85.5
94.1

Prime
Prime
Prime
Prime
Prime

11 Daily
12 Minimal risk
13 Low risk
14 Moderate risk
15 Other

7.37
6.71
6.42
7.55
7.36

1,712
93
426
440
170

286
324
799
212
267

192
362
51
235
122

36.3
43.9
6.1
40.7
90.3

13.3
42.5
2.1
24.6
13.8

3.0
0.2
0.1
9.5
5.3

85.0
76.5
96.3
55.9
94.7

Prime
Foreign
Foreign
Fed Funds
Foreign

16 2 to 30 days
17 Minimal risk
18 Low risk
19 Moderate risk
20 Other

7.76
7.09
6.87
8.22
7.83

1,484
94
269
322
418

181
178
326
90
266

222
332
78
284
302

58.0
57.0
35.7
65.5
90.9

13.6
56.8
15.2
18.3
11.5

19.4
8.2
14.5
37.0
23.4

94.1
85.8
96.1
87.0
96.1

Foreign
Other
Foreign
Foreign
Foreign

21 31 to 365 days
22 Minimal risk
23 Low risk
24 Moderate risk
25 Other

7.97
7.38
7.96
8.55
6.94

2,209
71
580
772
489

89
38
104
69
333

448
149
229
575
654

68.7
83.6
51.8
71.2
83.0

13.9
24.4
15.4
17.0
9.6

19.0
8.1
3.7
23.1
36.0

80.0
51.6
82.7
74.5
94.7

Foreign
Other
Foreign
Foreign
Foreign

91.4
84.1
88.2
95.8
99.2

19.7
5.8
9.3
20.4
31.8

3.0
-0.8
6.1
3.7

48.8
18.5
53.3
55.5
25.8

Other
Other
Other
Other
Prime

86.3
82.1
59.1
29.3

26.8
25.6
19.6
4.8

3.8
10.0
18.2
7.6

68.7
77.3
90.1
88.8

Prime
Prime
Foreign
Foreign

Months
26 Over 365
27 Minimal risk
28 Low risk
29 Moderate risk
30 Other

8.97
7.81
8.72
9.20
9.03

1,023
42
262
362
153

102
106
243
76
147

WeightedAverage Risk
Rating2

Size and base rate

64
97
44
67
56
WeightedAverage
Maturity/
Repricing
Interval3
Days

31
32
33
34

Size ($thousands)
1 - 99
100 - 999
1,000 - 9,999
10,000+

9.92
9.07
7.65
6.71

1,601
3,669
3,225
1,804

3.0
2.9
3.0
2.8

222
250
219
36

Average Size
($thousands)
Base rate6
35
36
37
38
39

Prime7
Fed funds
Other domestic
Foreign
Other

Footnotes appear on the last page.

9.44
6.37
7.97
6.84
8.12

4,845
507
169
2,481
2,298

3.1
2.5
2.3
3.0
2.7

154
65
225
62
481

79.1
21.6
79.7
49.0
66.9

30.0
15.8
23.9
4.9
17.1

8.9
19.7
0.4
21.8
3.3

80.5
57.8
76.9
96.8
74.9

80
743
73
1,640
84

E.2

For Immediate Release
June 17, 1998

SURVEY OF TERMS OF BUSINESS LENDING, MAY 4-8, 1998
TABLE 5
Commercial and Industrial loans made by U.S. branches and agencies of foreign banks1

Risk2 and
maturity/repricing
interval3 of loans

WeightedAverage
Effective
Loan Rate4
(percent)

Percent of Amount of Loans
Amount of
Loans
($ millions)

Average
Loan Size
($ thousands)

WeightedAverage
Maturity5

Secured by
Collateral

Callable

Subject to
Prepayment
Penalty

Made Under
Commitment

Most
Common
Base
Pricing Rate6

Days
1 All C&I loans
2
Minimal risk
3
Low risk
4
Moderate risk
5
Other

6.34
5.95
6.08
6.44
6.57

63,923
4,339
19,269
20,003
18,642

5,817
14,386
8,857
4,525
4,917

115
15
66
151
160

36.1
72.1
24.6
31.2
39.2

9.4
1.0
2.6
15.2
12.2

53.9
84.3
70.2
42.1
47.4

73.6
98.7
81.8
78.5
51.8

Foreign
Foreign
Foreign
Fed Funds
Fed Funds

6 Zero interval
7
Minimal risk
8
Low risk
9
Moderate risk
10 Other

9.29
-8.81
9.29
9.40

1,133
-89
606
424

530
-355
691
431

827
-1,137
1,156
604

42.4
-82.0
35.4
45.1

35.5
-40.4
43.2
22.5

8.8
-24.6
4.1
12.4

98.5
-83.5
99.7
99.8

Prime
-Prime
Prime
Prime

11 Daily
12 Minimal risk
13 Low risk
14 Moderate risk
15 Other

5.98
5.80
5.97
5.98
6.05

38,743
3,089
14,306
9,218
11,351

14,558
22,913
17,205
9,396
17,043

33
1
16
47
54

38.0
97.2
21.0
37.4
39.5

4.3
-1.1
10.0
5.2

54.6
98.9
70.7
25.8
49.3

64.7
98.3
79.9
69.6
29.9

Fed Funds
Foreign
Foreign
Fed Funds
Fed Funds

16 2 to 30 days
17 Minimal risk
18 Low risk
19 Moderate risk
20 Other

6.62
6.35
6.37
6.49
7.22

10,676
653
1,912
4,996
2,581

5,050
7,891
4,129
5,370
4,287

138
16
258
98
181

27.1
12.4
25.3
15.7
40.1

15.5
0.4
6.4
24.6
11.8

50.9
78.1
68.6
50.8
40.9

78.6
99.5
77.0
74.0
78.7

Foreign
Foreign
Foreign
Foreign
Foreign

21 31 to 365 days
22 Minimal risk
23 Low risk
24 Moderate risk
25 Other

6.84
6.25
6.31
6.85
7.27

12,950
578
2,953
5,047
4,186

3,573
9,631
4,873
3,234
3,054

281
85
167
313
357

36.7
6.3
39.7
35.4
37.5

16.0
4.3
6.3
12.1
29.8

58.6
15.9
70.6
66.5
49.0

93.4
100.0
94.0
95.9
88.6

Foreign
Foreign
Foreign
Foreign
Foreign

16.7
--4.4
32.8

16.7
--4.4
32.8

83.3
--95.6
67.2

100.0
--100.0
100.0

Foreign
--Foreign
Prime

51.1
46.0
33.0
36.6

30.7
26.1
17.9
6.4

23.8
44.1
54.4
54.1

91.4
93.6
87.8
68.8

Months
26 Over 365
27 Minimal risk
28 Low risk
29 Moderate risk
30 Other

7.64
--7.17
8.27

234
--131
101

973
--2,189
602

WeightedAverage Risk
Rating2

Size and base rate

59
--54
67
WeightedAverage
Maturity/
Repricing
Interval3
Days

31
32
33
34

Size ($thousands)
1 - 99
100 - 999
1,000 - 9,999
10,000+

8.50
7.73
6.93
6.11

66
1,612
14,019
48,226

3.3
3.2
3.2
2.9

91
61
48
14

Prime
Foreign
Foreign
Fed Funds
Average Size
($thousands)

Base rate6
35
36
37
38
39

Prime7
Fed funds
Other domestic
Foreign
Other

Footnotes appear on the last page.

9.57
6.01
6.38
6.46
6.15

1,779
26,067
4,927
26,899
4,252

3.3
3.5
3.1
2.5
2.6

71
5
19
39
7

50.4
32.5
32.9
44.5
2.6

56.2
1.3
70.2
4.5
0.4

19.3
33.9
72.2
65.4
97.5

97.9
37.0
99.0
98.7
100.0

568
13,187
6,616
5,297
75,847

NOTES
The Survey of Terms of Business Lending collects data on gross loan extensions made during the first full
business week in the mid-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. Note that 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 December 31, 1996, assets of most of the large banks were at least $7.0 billion. Median total
assets for all insured banks were roughly $62 million. Assets at all U.S. branches and agencies
averaged $1.3 billion.
2. A complete description of these risk 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 "Other" category includes a 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 to 39 are not rated
for risk.
3. 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. Owing to weekends and holidays, such
loans may have "maturity/repricing" intervals in excess of one day; such loans are not included in the 2
to 30 day category.
4. Effective (compounded) annual interest rates are calculated from the stated rate and other terms of the
loans and weighted by loan amount. The standard error of the loan rate for all C&I loans in the current
survey (line 1, column 1) is 0.11 percentage points. 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 the universe of all banks.
5. Average maturities are weighted by loan amount and exclude loans with no stated maturities.
6. The most common base pricing rate is that used to price the largest dollar volume of loans. Base pricing
rates include the prime rate (sometimes referred to as a bank’s "base" or "reference" rate); the federal
funds rate; domestic money market rates other than the prime rate and the federal funds rate; foreign
money market rates; and other base rates not included in the foregoing classifications.
7. For the current survey, the average reported prime rate, weighted by the amount of loans priced relative
to a prime base rate, was 8.53 percent for all banks; 8.50 percent for large domestic banks 8.64
percent for small domestic banks; and 8.50 percent for U.S. branches and agencies of foreign banks.