FEDERAL RESERVE statistical release

E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 4-8, 2003
For immediate release
October 1, 2003

1. Commercial and industrial loans made by all commercial banks1

interval2

Maturity/repricing
and risk3 of loans

Weightedaverage
effective
loan rate4
(percent)

Percent of value of loans
Total value of
loans
($ millions)

Average
loan size
($ thousands)

Weightedaverage
maturity5

Secured by
collateral

Subject to
prepayment
penalty

Commitment status

Prime based

Percent
made under
commitment

Average
months
since loan
terms set6

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

3.15
2.22
2.63
3.22
3.60

58,650
1,456
12,925
20,322
14,729

422
369
1,222
508
315

567
428
582
747
399

37.5
26.9
14.1
40.3
51.4

22.4
20.5
23.3
21.5
23.5

34.8
16.4
21.4
35.3
38.1

78.1
84.1
81.1
86.0
76.0

12.8
12.2
4.7
10.5
17.3

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

4.40
3.39
4.39
4.27
4.59

15,484
223
3,894
6,199
4,634

253
153
1,096
282
184

841
563
1,153
936
480

41.1
58.9
5.7
40.5
65.6

11.5
3.3
1.8
13.1
19.0

66.9
50.7
53.3
71.3
74.1

86.1
96.2
59.3
96.0
94.3

12.2
4.5
2.8
11.0
19.8

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

2.29
1.43
1.30
2.26
2.76

20,863
537
5,218
4,963
4,794

646
2,178
4,423
1,051
468

231
51
167
390
128

28.0
3.6
5.5
27.9
42.9

26.4
33.9
35.5
22.2
21.6

26.9
14.9
3.4
18.6
26.4

72.6
94.4
88.8
83.5
51.5

12.9
2.6
2.8
6.3
19.4

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

2.64
1.58
2.11
2.73
3.04

9,139
331
1,529
3,396
2,285

644
2,105
852
1,103
376

416
158
380
559
211

34.3
14.7
20.3
37.3
39.0

29.0
17.1
36.2
28.2
36.0

18.3
3.6
12.6
18.3
10.7

75.9
82.9
95.3
83.3
73.1

15.8
41.0
7.3
15.2
15.8

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

3.01
2.33
2.61
2.84
3.67

10,077
229
1,900
4,392
2,500

627
186
941
801
1,047

608
663
524
695
622

45.2
60.7
36.8
51.3
49.6

27.6
8.8
25.3
29.6
25.9

14.9
7.4
9.6
16.6
17.7

84.0
70.9
93.8
82.8
93.2

10.5
6.3
10.5
8.1
12.3

66.9
38.9
78.1
58.3
66.3

15.7
24.2
14.2
14.9
17.4

38.6
10.8
36.3
34.0
39.7

59.2
48.5
77.6
64.2
66.2

13.4
4.4
2.9
19.6
11.0

82.4
71.6
36.9
24.2

4.1
8.1
30.5
23.1

75.1
71.6
30.2
23.7

86.2
87.3
79.0
74.1

16.5
19.0
14.7
9.1

89.9
71.8

14.2
11.9

Months
26. More than 365 days
27. Minimal risk
28. Low risk
29. Moderate risk
30. Other

4.84
4.85
5.04
4.49
4.84

2,889
134
384
1,275
452

210
160
189
298
215

Weightedaverage risk
rating3

Size of loan
($ thousands)

60
61
49
61
67
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

1 - 99
100 - 999
1,000 - 9,999
10,000+

5.03
4.28
3.15
2.67

2,501
8,379
18,315
29,455

3.4
3.4
3.2
2.9

184
159
126
59

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

4.59
2.39

20,385
38,265

... The number of loans was insufficient to provide a meaningful value.
Other footnotes appear on the last page.

3.2
3.0

92
104

56.6
27.3

4.0
32.3

206
958

E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 4-8, 2003

For immediate release
October 1, 2003

2. Commercial and industrial loans made by domestic banks1
interval2

Maturity/repricing
and risk3 of loans

Weightedaverage
effective
loan rate4
(percent)

Percent of value of loans
Total value of
loans
($ millions)

Average
loan size
($ thousands)

Weightedaverage
maturity5

Secured by
collateral

Subject to
prepayment
penalty

Commitment status

Prime based

Percent
made under
commitment

Average
months
since loan
terms set6

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

3.40
2.47
2.70
3.54
4.19

44,558
896
11,305
15,926
9,023

330
236
1,118
409
201

692
484
596
906
590

42.7
30.6
13.9
45.9
67.0

12.3
25.0
19.9
13.1
4.8

43.6
26.2
23.8
43.3
58.1

81.6
89.7
79.4
84.5
88.6

12.9
17.6
4.3
10.3
17.1

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

4.57
3.38
4.39
4.56
4.82

13,608
219
3,836
5,419
3,605

226
151
1,103
249
146

936
563
1,158
1,059
576

46.0
59.8
5.7
45.7
82.3

2.0
3.3
1.4
2.7
1.8

73.3
49.9
53.0
79.4
89.3

84.2
96.1
58.6
95.4
92.7

9.0
4.3
2.6
7.8
15.7

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

2.41
1.29
1.27
2.66
3.46

14,375
310
4,669
3,155
1,950

462
1,806
4,371
702
200

328
95
166
599
334

30.8
6.3
2.2
39.2
51.0

20.9
58.8
31.9
31.5
2.8

37.8
25.9
3.9
28.1
60.9

80.5
90.2
87.5
74.3
77.6

15.7
4.8
3.2
10.2
23.9

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

2.78
1.51
2.20
2.83
3.79

6,401
205
1,119
2,650
1,164

487
1,587
682
959
206

535
226
384
670
399

40.0
20.9
25.1
38.4
61.4

11.8
.1
25.2
13.2
4.3

22.7
5.9
17.2
20.7
16.5

79.9
100.0
97.7
83.7
90.5

17.6
54.4
7.8
14.6
20.2

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

3.14
3.57
2.57
2.93
3.85

7,179
68
1,298
3,371
1,792

477
57
688
649
907

624
205
387
763
598

51.8
39.1
51.5
53.5
56.7

14.6
3.0
28.6
13.5
10.1

18.8
25.1
10.9
20.5
23.2

88.1
62.6
96.2
83.4
96.8

10.3
10.6
8.7
7.6
12.6

68.8
56.2
78.1
60.3
66.3

14.5
34.9
14.2
12.0
17.4

39.8
15.6
36.3
35.2
39.7

60.8
70.0
77.6
66.4
66.2

13.4
4.4
2.9
19.6
11.0

82.8
75.0
49.9
23.3

3.9
5.5
13.2
15.1

75.2
74.0
42.0
30.5

86.1
87.2
85.7
77.0

16.5
19.1
16.5
8.0

89.6
75.4

14.2
11.7

Months
26. More than 365 days
27. Minimal risk
28. Low risk
29. Moderate risk
30. Other

4.89
5.54
5.04
4.52
4.84

2,800
93
384
1,234
452

203
111
189
289
215

Weightedaverage risk
rating3

Size of loan
($ thousands)

61
69
49
62
67
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

1 - 99
100 - 999
1,000 - 9,999
10,000+

5.04
4.33
3.52
2.83

2,476
7,830
11,733
22,519

3.4
3.4
3.2
2.6

185
169
175
72

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

4.57
2.48

19,445
25,113

... The number of loans was insufficient to provide a meaningful value.
Other footnotes appear on the last page.

3.2
2.8

95
143

57.5
31.2

3.1
19.4

198
681

E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 4-8, 2003

For immediate release
October 1, 2003

3. Commercial and industrial loans made by large domestic banks1
interval2

Maturity/repricing
and risk3 of loans

Weightedaverage
effective
loan rate4
(percent)

Percent of value of loans
Total value of
loans
($ millions)

Average
loan size
($ thousands)

Weightedaverage
maturity5

Secured by
collateral

Subject to
prepayment
penalty

Commitment status

Prime based

Percent
made under
commitment

Average
months
since loan
terms set6

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

3.12
1.75
2.51
3.28
4.06

38,506
656
10,464
13,762
7,655

549
1,035
3,818
806
267

632
308
563
811
528

36.0
26.1
9.9
39.4
63.0

13.2
29.1
21.1
13.6
4.7

39.8
22.4
21.6
38.9
56.4

82.5
94.2
79.4
87.7
89.0

14.2
22.4
4.5
10.8
19.0

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

4.52
2.87
4.31
4.56
4.82

10,982
118
3,559
4,407
2,741

403
302
5,703
417
208

1,015
696
1,147
1,166
603

37.0
80.0
2.3
37.0
78.5

1.9
5.5
.5
2.8
1.9

70.0
58.6
50.3
76.8
87.3

82.3
93.5
56.8
96.6
92.3

9.7
7.3
2.5
8.0
18.3

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

2.24
1.21
1.25
2.57
3.43

13,549
303
4,652
3,025
1,918

480
3,381
6,103
910
204

326
70
164
568
317

27.1
6.4
1.9
38.2
50.5

22.0
60.0
32.0
32.9
2.8

34.1
24.4
3.5
25.0
60.3

79.9
90.0
87.6
74.1
78.3

16.7
4.9
3.2
10.6
24.1

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

2.58
1.35
2.20
2.54
3.56

5,616
190
938
2,379
886

660
2,786
1,041
1,653
248

506
225
422
563
432

35.6
16.4
25.2
31.6
58.2

13.3
.1
30.0
14.6
5.6

20.2
.2
17.1
13.1
19.4

81.1
100.0
97.5
91.1
87.7

19.6
58.1
9.3
14.8
27.2

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

2.90
2.96
2.20
2.72
3.80

6,590
28
1,179
3,126
1,743

2,315
392
3,300
4,016
1,481

577
136
392
657
573

49.4
33.2
48.9
50.8
56.1

14.5
7.3
31.4
11.6
10.3

16.0
5.8
8.5
17.0
22.3

89.7
100.0
98.7
83.7
97.2

10.9
14.2
9.2
8.1
12.8

49.2
...
38.2
35.0
50.7

12.9
...
33.5
6.3
6.5

46.8
...
35.0
46.1
51.4

80.3
...
98.7
94.4
82.9

17.7
...
6.3
23.0
12.7

78.7
68.8
45.9
20.7

5.6
5.5
13.7
15.4

79.4
74.9
40.9
28.2

91.8
93.5
89.2
76.1

25.2
23.5
18.0
8.4

91.9
76.3

16.4
12.4

Months
26. More than 365 days
27. Minimal risk
28. Low risk
29. Moderate risk
30. Other

3.81
...
3.03
3.30
4.37

1,577
...
136
730
306

808
...
1,417
1,220
438

Weightedaverage risk
rating3

Size of loan
($ thousands)

39
...
38
37
35
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

1 - 99
100 - 999
1,000 - 9,999
10,000+

4.34
3.98
3.32
2.74

1,316
5,418
10,082
21,689

3.7
3.5
3.2
2.6

56
63
89
70

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

4.44
2.25

15,341
23,165

... The number of loans was insufficient to provide a meaningful value.
Other footnotes appear on the last page.

3.2
2.7

77
71

49.2
27.3

2.7
20.2

279
1,530

E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 4-8, 2003

For immediate release
October 1, 2003

4. Commercial and industrial loans made by small domestic banks1
interval2

Maturity/repricing
and risk3 of loans

Weightedaverage
effective
loan rate4
(percent)

Percent of value of loans
Total value of
loans
($ millions)

Average
loan size
($ thousands)

Weightedaverage
maturity5

Secured by
collateral

Subject to
prepayment
penalty

Commitment status

Prime based

Percent
made under
commitment

Average
months
since loan
terms set6

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

5.14
4.44
5.06
5.19
4.90

6,052
240
841
2,164
1,368

94
76
114
99
85

1,080
1,021
1,022
1,538
921

84.8
42.7
63.5
87.8
89.4

6.5
13.8
5.5
10.0
5.3

67.8
36.7
50.5
71.3
67.9

75.7
77.5
79.2
64.1
86.6

3.2
1.5
1.5
5.2
3.8

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

4.77
3.97
5.41
4.55
4.81

2,626
101
277
1,012
863

80
95
97
91
75

575
268
1,334
527
490

83.7
36.2
49.0
83.5
94.4

2.8
.8
13.0
2.2
1.5

87.3
39.8
87.8
90.9
95.9

92.0
99.2
81.9
90.0
93.9

5.6
.9
3.9
7.0
5.5

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

5.06
...
5.22
4.66
5.17

826
...
17
130
32

281
...
56
111
92

361
...
769
1,262
1,295

92.0
...
84.9
64.4
80.9

2.0
...
.0
.0
.0

99.6
...
88.7
99.9
99.3

91.4
...
71.9
78.4
36.7

.9
...
1.8
.9
3.3

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

4.21
3.53
2.19
5.38
4.53

785
15
180
271
277

170
248
244
205
133

727
241
200
1,603
314

71.5
77.9
24.2
97.9
72.0

1.2
.0
.0
.6
.0

40.4
77.6
18.3
87.8
7.1

71.1
100.0
99.2
18.7
99.6

1.6
8.7
.2
7.2
.3

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

5.75
3.99
6.30
5.61
5.78

589
40
119
245
49

48
36
78
55
61

1,158
251
336
2,113
1,506

78.6
43.1
77.4
88.5
76.6

15.6
.0
.8
36.5
3.2

49.9
38.4
35.3
64.3
55.5

70.5
36.6
70.8
79.3
81.6

1.4
3.7
.8
1.1
3.7

94.0
47.3
100.0
96.8
99.0

16.6
42.0
3.7
20.3
40.2

30.9
18.7
37.0
19.3
15.2

35.8
64.0
66.0
25.7
31.2

.6
.0
.1
1.7
.3

87.4
89.1
74.1
...

2.0
5.3
10.2
...

70.5
72.0
48.5
...

79.7
73.1
64.6
...

4.3
5.0
1.7
...

80.8
64.9

4.0
1.3

Months
26. More than 365 days
27. Minimal risk
28. Low risk
29. Moderate risk
30. Other

6.27
5.44
6.14
6.29
5.82

1,223
77
248
504
146

104
94
128
137
104

Weightedaverage risk
rating3

Size of loan
($ thousands)

88
68
54
98
133
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

1 - 99
100 - 999
1,000 - 9,999
10,000+

5.83
5.12
4.77
...

1,160
2,412
1,651
...

3.2
3.1
3.0
...

327
403
703
...

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

5.08
5.26

4,104
1,948

... The number of loans was insufficient to provide a meaningful value.
Other footnotes appear on the last page.

3.1
3.0

161
1,002

88.5
77.0

4.7
10.3

96
90

E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 4-8, 2003

For immediate release
October 1, 2003

5. Commercial and industrial loans made by U.S. branches and agencies of foreign banks1
interval2

Maturity/repricing
and risk3 of loans

Weightedaverage
effective
loan rate4
(percent)

Percent of value of loans
Total value of
loans
($ millions)

Average
loan size
($ thousands)

Weightedaverage
maturity5

Secured by
collateral

Subject to
prepayment
penalty

Commitment status

Prime based

Percent
made under
commitment

Average
months
since loan
terms set6

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

2.38
1.83
2.15
2.07
2.67

14,092
560
1,620
4,396
5,707

3,417
3,717
3,428
4,000
3,091

184
351
484
180
122

21.0
21.1
15.3
20.0
26.9

54.5
13.3
46.7
51.7
53.2

6.7
.6
5.2
6.1
6.5

66.9
75.2
92.9
91.5
56.2

12.3
1.8
7.0
11.3
17.8

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

3.18
...
4.09
2.29
3.79

1,876
...
58
780
1,029

2,164
...
776
2,958
2,023

151
...
786
85
163

6.0
...
4.4
4.2
7.1

79.7
...
23.5
85.4
79.2

20.4
...
74.2
15.0
20.8

99.9
...
100.0
100.0
99.9

31.2
...
10.3
31.6
32.2

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

2.03
1.63
1.54
1.56
2.29

6,488
228
549
1,808
2,844

5,684
3,023
4,926
7,995
5,609

30
1
170
51
3

21.9
.0
33.7
8.2
37.3

38.7
.0
66.0
6.0
34.5

2.8
.0
.0
2.1
2.7

55.0
100.0
99.9
99.5
33.8

3.9
.0
.0
1.2
12.3

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

2.33
...
1.87
2.36
2.27

2,738
...
411
746
1,121

2,576
...
2,643
2,364
2,716

136
...
370
136
40

21.1
...
7.4
33.2
15.6

69.2
...
66.2
81.6
68.9

8.1
...
.0
9.7
4.6

66.8
...
88.6
82.1
55.1

10.8
...
5.8
17.4
8.4

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

2.69
...
2.70
2.53
3.21

2,898
...
602
1,021
708

2,840
...
4,618
3,535
1,715

567
...
827
466
683

28.8
...
5.0
44.1
31.7

59.7
...
18.0
82.8
65.8

5.3
...
6.7
3.9
3.8

73.8
...
88.6
81.2
84.0

11.2
...
14.7
9.9
11.6

...
...
...
...
...

...
...
...
...
...

...
...
...
...
...

...
...
...
...
...

...
...
...
...
...

40.9
22.5
13.9
27.5

25.6
45.3
61.4
48.7

65.1
37.1
9.3
1.6

91.8
88.0
67.2
64.8

16.2
17.7
10.7
13.3

96.0
64.8

12.9
12.3

Months
26. More than 365 days
27. Minimal risk
28. Low risk
29. Moderate risk
30. Other

...
...
...
...
...

...
...
...
...
...

...
...
...
...
...

Weightedaverage risk
rating3

Size of loan
($ thousands)

...
...
...
...
...
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

1 - 99
100 - 999
1,000 - 9,999
10,000+

4.30
3.59
2.49
2.18

25
549
6,582
6,937

3.6
3.6
3.3
3.6

18
22
38
19

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

4.88
2.20

941
13,152

... The number of loans was insufficient to provide a meaningful value.
Other footnotes appear on the last page.

3.6
3.5

20
28

38.3
19.7

21.0
56.9

890
4,287

E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 4-8, 2003

For immediate release
October 1, 2003

6. Commercial and industrial loans by time that pricing terms were set and by commitment

Time pricing terms were set
and loan commitment status

Weightedaverage
effective
loan rate4
(percent)

Total value of
loans
($ millions)

Average
loan size
($ thousands)

Weightedaverage risk
rating3

Weightedaverage
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.
Not under commitment
3.
Informal commitment
4.
Formal commitment

3.21
2.88
3.00
4.32

31,604
12,867
12,527
6,210

686
611
683
927

3.0
3.3
2.7
3.2

125
203
42
130

33.8
33.0
24.4
54.8

29.8
29.3
41.8
6.8

28.5
16.0
25.1
61.3

Before survey week9
Up to 90 days
91 to 365 days
More than 365 days

2.62
3.57
3.09

6,774
5,109
14,586

340
190
356

2.6
3.2
3.4

85
50
70

35.7
62.4
35.4

9.0
9.7
18.1

35.4
49.0
41.5

Domestic banks
8. During survey week
9.
Not under commitment
10.
Informal commitment
11.
Formal commitment

3.66
3.26
3.55
4.38

22,173
8,198
8,250
5,726

508
407
486
868

2.8
2.8
2.6
3.2

165
297
56
134

38.9
37.2
31.5
52.2

21.0
3.1
52.6
1.0

38.8
24.7
34.7
64.6

Before survey week9
Up to 90 days
91 to 365 days
More than 365 days

2.63
3.65
3.17

6,333
4,345
11,129

321
164
280

2.6
3.3
3.3

88
52
88

34.8
62.5
44.4

3.4
4.9
3.7

36.8
54.4
51.6

Large domestic banks
15. During survey week
16.
Not under commitment
17.
Informal commitment
18.
Formal commitment

3.30
2.67
3.28
4.21

18,313
6,728
6,840
4,745

2,045
1,181
3,799
3,253

2.8
2.7
2.5
3.2

71
83
18
131

29.3
25.3
23.8
43.1

23.9
.9
62.4
1.1

34.2
18.4
32.6
59.0

Before survey week9
Up to 90 days
91 to 365 days
More than 365 days

2.27
3.47
3.14

5,477
3,769
10,856

545
260
299

2.6
3.3
3.3

63
56
89

27.6
58.7
43.7

2.7
5.0
3.5

29.8
49.4
50.6

Small domestic banks
22. During survey week
23.
Not under commitment
24.
Informal commitment
26.
Formal commitment

5.37
5.95
4.88
5.19

3,860
1,469
1,410
981

111
102
93
191

3.0
2.9
3.1
3.1

612
1,278
240
151

84.5
91.5
68.7
96.7

7.1
13.1
5.5
.4

60.2
53.5
45.2
91.9

Before survey week9
Up to 90 days
91 to 365 days
More than 365 days

4.91
4.84
4.36

856
575
273

88
48
78

2.9
3.2
3.3

246
21
44

80.9
88.0
74.0

8.0
4.1
10.0

81.9
86.6
90.2

Foreign banks
29. During survey week
30.
Not under commitment
31.
Informal commitment
32.
Formal commitment

2.16
2.22
1.93
3.54

9,430
4,669
4,277
484

3,939
5,049
3,121
4,891

3.5
4.3
2.9
3.2

30
38
16
76

21.8
25.6
10.6
84.8

50.6
75.3
20.8
75.2

4.4
.8
6.4
21.7

Before survey week9
Up to 90 days
91 to 365 days
More than 365 days

2.46
3.10
2.83

441
764
3,457

2,322
2,223
2,889

2.8
2.9
3.7

52
43
14

48.2
61.5
6.2

90.1
36.9
64.5

14.7
18.8
9.1

5.
6.
7.

12.
13.
14.

19.
20.
21.

26.
27.
28.

33.
34.
35.

Summary statistics
Average reported prime rate
Standard error of loan rate4

All commercial
banks
4.07
.12

Domestic
banks
4.07
.14

... The number of loans was insufficient to provide a meaningful value.
Other footnotes appear on the last page.

Large domestic
banks
4.00
.20

Small domestic
banks
4.33
.11

Foreign
banks
4.00
.11

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 approximately $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 may be
repriced or it 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 of more than one day; nevertheless, such loans appear in
the daily category and are not included in the 2 to 30 day category.
3. A complete description of the risk categories is available in the survey instructions, available at
"http://www.federalreserve.gov/boarddocs/reportforms/ReportDetail.cfm?WhichFormId=FR_2028a/s".
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 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 survey of the universe of 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
combination 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 table for the average reported prime rate weighted by dollar value of loans
priced relative to a prime rate.
9. For loans made under formal commitments.