FEDERAL RESERVE statistical release

E.2 SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 2-6, 2004
For immediate release
March 22, 2004

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

2.99
2.03
1.99
3.06
3.72

63,599
1,877
13,808
19,862
19,941

411
539
1,054
420
393

401
286
252
555
369

47.6
63.3
41.7
52.4
49.6

30.3
36.2
44.7
33.5
13.6

31.2
15.7
10.2
34.7
42.6

76.4
90.5
66.9
82.6
84.3

18.2
15.7
20.2
15.9
17.8

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

3.79
1.78
2.09
4.10
4.86

14,534
435
3,937
3,928
5,293

206
431
778
173
187

533
238
158
743
648

64.4
89.9
43.5
65.0
73.3

8.1
53.0
1.0
6.6
1.9

57.4
34.8
17.9
74.2
73.5

76.9
95.8
34.9
92.8
92.5

14.7
12.8
15.0
13.8
16.7

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

2.29
1.66
1.56
2.51
2.66

21,400
411
6,341
5,409
5,415

756
1,491
3,202
720
918

202
79
190
366
39

32.5
25.7
38.7
46.6
13.4

39.6
.2
71.6
30.4
16.4

18.8
24.4
3.9
25.7
11.9

66.4
96.8
75.2
71.7
62.4

20.8
.2
23.6
13.9
19.5

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

2.72
1.59
2.38
2.54
3.62

14,659
658
2,258
5,744
4,118

702
2,133
1,290
1,155
400

348
302
438
369
319

47.9
62.1
34.0
54.6
53.8

43.6
58.7
51.1
51.4
30.1

22.8
1.4
8.8
20.5
40.0

79.9
90.9
85.5
79.4
90.1

17.9
29.8
16.8
16.4
14.5

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

3.35
1.81
2.69
3.34
3.88

7,968
199
958
2,894
2,912

440
182
410
420
945

333
172
285
320
355

56.1
58.4
64.6
51.2
70.3

27.1
30.9
42.7
30.1
15.8

31.8
10.6
12.5
35.2
45.2

88.1
68.6
93.5
89.9
95.8

22.8
24.4
18.2
24.2
25.2

47.3
95.2
65.2
36.0
45.5

23.0
.3
7.2
51.1
1.2

31.0
7.0
45.4
19.0
44.3

88.2
85.4
84.4
91.0
92.5

12.4
.6
17.0
10.6
13.9

85.5
70.5
48.0
37.1

6.7
9.9
26.5
41.0

74.0
69.7
35.7
13.1

83.9
90.4
82.9
67.4

12.9
15.3
18.3
19.9

91.6
69.5

18.6
18.0

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

3.88
5.50
4.54
3.61
3.61

4,840
171
308
1,819
2,095

318
223
158
391
916

Weightedaverage risk
rating3

Size of loan
($ thousands)

39
29
31
55
23
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

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

5.08
4.20
3.23
2.28

2,802
9,321
20,077
31,401

3.4
3.4
3.3
3.0

184
106
87
104

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

4.39
2.35

19,850
43,749

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

3.5
3.0

81
112

72.2
36.4

4.6
42.0

180
992

E.2 SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 2-6, 2004

For immediate release
March 22, 2004

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

3.39
2.23
2.07
3.40
4.39

42,415
1,251
8,891
14,677
12,375

282
378
715
320
252

569
365
376
734
525

65.7
83.6
63.1
60.0
76.2

19.2
44.8
35.3
20.1
4.6

45.0
23.6
15.1
44.8
65.8

83.6
90.4
68.7
86.3
91.7

21.0
20.4
28.0
17.3
19.7

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

3.73
1.73
1.99
4.06
4.85

13,723
426
3,753
3,737
4,865

197
430
753
166
175

530
238
150
739
641

66.5
91.9
45.4
65.1
77.6

8.3
54.2
1.0
6.7
1.7

57.5
35.6
18.6
73.3
74.3

75.6
95.7
31.7
92.4
91.9

14.8
13.0
16.7
13.3
17.2

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

2.76
1.89
1.67
2.91
4.03

10,096
114
2,812
3,622
1,184

374
519
1,604
505
221

450
615
430
564
204

64.7
70.8
86.7
59.3
60.7

32.3
.6
83.1
24.1
1.2

39.5
88.1
8.7
37.4
54.0

80.0
88.4
98.9
69.3
76.3

29.0
.6
40.5
16.4
18.9

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

3.07
1.49
2.15
2.92
4.07

8,674
427
1,323
3,298
2,702

448
1,761
893
752
274

517
302
608
610
403

67.1
74.8
55.8
66.8
76.8

20.3
76.8
36.5
21.7
6.6

37.0
2.2
13.6
33.9
59.2

94.5
99.8
94.3
94.4
95.5

19.0
38.8
17.5
17.6
13.2

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

3.63
2.22
2.89
3.60
4.06

5,763
112
698
2,134
2,290

331
105
310
321
811

367
217
318
373
359

68.9
80.9
77.2
61.8
80.5

14.8
.1
37.3
8.4
12.0

42.0
18.2
11.6
45.7
56.6

91.1
44.0
91.1
87.6
97.0

27.7
20.4
19.7
31.0
30.3

57.6
95.2
64.1
36.0
77.8

28.1
.3
7.5
51.1
2.0

37.6
7.0
45.4
19.0
75.4

85.6
85.4
83.9
91.0
87.2

15.5
.6
16.8
10.6
25.1

85.6
74.3
62.8
60.4

6.6
7.0
13.3
32.5

74.1
73.0
47.1
24.0

83.8
90.9
89.5
74.8

12.9
15.4
20.5
26.6

91.3
77.4

18.6
23.3

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

4.18
5.50
4.59
3.61
4.39

3,961
171
299
1,819
1,225

261
223
154
391
543

Weightedaverage risk
rating3

Size of loan
($ thousands)

44
29
31
55
31
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

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

5.08
4.27
3.55
2.52

2,785
8,611
14,321
16,698

3.4
3.4
3.3
2.8

185
112
114
159

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

4.36
2.59

19,103
23,312

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

3.6
2.8

83
180

73.5
59.3

4.4
31.3

174
573

E.2 SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 2-6, 2004

For immediate release
March 22, 2004

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
1.49
1.76
3.11
4.29

35,670
853
7,763
12,558
9,878

456
1,402
2,768
604
320

556
289
374
706
549

61.7
85.8
62.6
55.0
71.9

21.9
64.9
39.9
21.9
5.2

40.0
19.0
10.7
39.9
59.5

83.6
90.5
66.2
87.9
91.7

22.8
28.5
32.7
18.6
19.7

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

3.53
1.45
1.64
3.87
4.84

11,554
383
3,338
2,827
4,338

317
1,030
4,305
253
252

499
225
109
615
669

62.2
96.7
40.1
57.4
75.6

8.5
59.7
.8
4.5
1.4

53.7
33.6
12.1
72.7
71.5

73.8
95.3
25.8
95.5
92.2

16.7
14.4
21.8
14.8
18.4

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

2.57
1.49
1.64
2.67
3.67

9,127
34
2,647
3,310
861

418
765
3,770
654
211

460
622
452
565
203

62.9
2.2
90.7
56.0
49.3

35.6
1.9
88.1
26.3
1.5

35.5
60.9
7.8
31.7
47.3

78.4
61.0
99.0
67.1
68.0

32.4
2.9
43.0
18.4
26.5

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

3.02
1.45
2.22
2.86
3.98

7,982
373
1,169
3,163
2,358

592
3,328
1,225
1,241
344

534
305
682
618
398

68.0
85.3
61.6
66.5
76.8

21.5
86.7
41.0
22.5
6.2

34.7
2.4
14.6
32.4
53.8

94.8
99.8
93.8
95.8
95.1

20.3
43.5
19.3
17.9
14.9

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

3.15
1.75
2.18
3.14
3.68

4,356
55
496
1,794
1,555

1,655
1,318
1,932
2,092
1,516

414
307
377
397
421

61.0
74.0
75.8
56.2
71.8

18.8
.0
51.4
8.9
17.2

32.3
3.0
6.5
40.7
39.1

94.3
14.8
93.1
94.4
96.7

28.6
34.8
24.6
33.3
28.5

34.3
8.0
20.5
18.7
60.8

42.7
7.1
5.3
63.2
3.5

22.1
15.4
10.2
6.8
65.9

91.9
69.2
84.8
95.1
94.5

14.4
21.1
41.3
9.7
18.9

81.1
69.7
58.4
59.1

9.4
7.4
15.5
33.6

80.1
71.7
42.8
21.8

92.6
94.4
89.9
73.8

18.6
18.4
21.3
27.0

93.5
77.0

20.1
25.1

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

3.50
3.82
1.89
3.14
4.25

2,458
6
112
1,397
657

1,053
236
989
1,862
794

Weightedaverage risk
rating3

Size of loan
($ thousands)

47
41
21
58
32
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

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

4.31
3.95
3.39
2.48

1,445
6,377
11,811
16,036

3.6
3.5
3.3
2.8

41
68
96
155

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

4.14
2.44

14,276
21,394

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

3.5
2.8

48
159

67.3
57.9

4.7
33.4

235
1,231

E.2 SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 2-6, 2004

For immediate release
March 22, 2004

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

4.83
3.80
4.18
5.08
4.79

6,746
398
1,127
2,119
2,497

94
147
117
84
138

631
566
389
900
439

87.1
78.9
66.8
90.1
93.4

4.6
1.7
3.9
9.1
2.5

71.6
33.4
45.6
74.4
90.4

84.0
90.1
86.3
76.8
91.6

11.3
3.0
3.3
8.1
19.5

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

4.84
4.20
4.84
4.65
4.93

2,169
43
415
909
527

65
70
99
80
50

686
353
389
1,151
387

89.1
49.1
88.0
88.9
93.8

7.2
5.6
2.6
13.5
3.7

77.8
53.6
70.6
75.3
97.7

84.9
98.9
78.9
82.8
88.8

6.2
.7
3.4
8.0
6.2

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

4.53
...
2.19
5.44
5.02

970
...
165
312
323

188
...
157
148
250

350
...
82
557
205

81.8
...
22.5
94.1
90.9

.8
...
3.3
.5
.3

76.7
...
23.2
97.6
71.8

94.4
...
97.1
92.4
98.4

2.2
...
.3
1.2
4.9

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

3.68
1.76
1.56
4.31
4.64

692
54
154
135
343

118
412
293
74
115

338
278
70
409
441

56.3
1.6
12.0
74.9
77.0

6.2
7.8
1.7
2.9
9.3

62.7
.8
6.0
68.1
96.3

90.7
99.4
98.3
62.9
97.7

3.6
5.9
4.4
5.6
1.9

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

5.11
2.68
4.64
6.05
4.86

1,407
56
202
340
735

95
55
101
59
409

221
129
172
244
232

93.5
87.7
80.7
91.6
98.8

2.4
.3
2.6
5.3
1.2

72.1
33.3
24.2
72.3
93.6

81.2
72.8
86.1
51.5
97.8

24.5
17.5
6.6
8.8
34.1

95.7
98.6
90.1
93.3
97.4

4.3
.0
8.7
11.0
.4

63.1
6.7
66.3
59.1
86.4

75.3
86.0
83.4
77.4
78.7

17.8
.0
.0
14.4
33.6

90.4
87.6
83.3
92.7

3.5
5.9
3.1
7.9

67.6
76.9
67.2
78.2

74.3
80.9
87.6
100.0

5.1
5.4
16.5
19.2

84.8
81.7

13.8
4.7

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

5.30
5.57
6.20
5.18
4.55

1,502
165
187
422
569

117
223
102
108
398

Weightedaverage risk
rating3

Size of loan
($ thousands)

41
28
37
44
29
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

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

5.92
5.16
4.28
3.63

1,340
2,234
2,510
662

3.1
3.1
3.4
3.7

336
238
202
274

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

5.03
4.34

4,827
1,918

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

3.6
2.5

186
403

91.9
74.9

3.4
7.6

99
82

E.2 SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 2-6, 2004

For immediate release
March 22, 2004

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

2.18
1.64
1.84
2.10
2.62

21,184
626
4,917
5,185
7,566

4,894
3,682
7,384
3,739
4,488

139
61
63
130

89

11.2
22.6
3.0
30.8
6.0

52.7
19.2
61.5
71.7
28.2

3.5
.1
1.4
6.0
4.7

61.9
90.6
63.6
72.2
72.3

10.7
6.5
4.9
11.2
14.0

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

4.72
...
4.13
4.77
4.97

812
...
184
191
428

1,154
...
2,434
962
1,041

610
...
263
878
763

29.1
...
5.0
64.4
24.4

3.7
...
.0
5.7
4.5

56.4
...
4.0
91.0
64.8

100.0
...
100.0
100.0
100.0

12.6
...
3.9
22.0
12.3

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

1.87
1.57
1.47
1.71
2.28

11,303
298
3,529
1,787
4,231

8,528
5,250
15,569
5,115
8,023

3
18
3
2
3

3.8
8.5
.5
21.1
.2

46.1
.0
62.4
43.1
20.6

.3
.0
.0
1.9
.1

54.3
100.0
56.4
76.7
58.6

10.1
.0
.0
9.3
19.8

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

2.20
1.76
2.70
2.01
2.76

5,985
231
935
2,446
1,416

3,899
3,498
3,472
4,155
3,113

110
302
214
47
159

20.1
38.9
3.1
38.1
10.0

77.3
25.3
71.8
91.6
74.8

2.2
.0
2.0
2.4
3.5

58.7
74.7
73.0
59.2
79.8

15.2
7.7
15.7
13.9
17.4

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

2.60
...
2.14
2.60
3.20

2,205
...
260
760
622

3,052
...
3,055
3,038
2,393

245
...
175
170
339

22.7
...
30.8
21.4
32.6

59.2
...
57.1
91.1
29.8

5.1
...
14.7
5.8
3.2

80.2
...
100.0
96.5
91.0

8.1
...
14.5
6.9
5.0

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

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

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

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

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

59.8
23.6
11.3
10.5

26.4
44.7
59.3
50.6

59.7
29.5
7.3
.7

96.1
84.6
66.3
59.1

10.2
14.4
11.1
10.2

99.2
60.5

18.8
10.2

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+

4.39
3.34
2.44
2.01

16
709
5,756
14,703

3.3
3.3
3.2
3.2

27
32
18
40

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

4.93
2.08

747
20,437

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

3.4
3.2

28
34

37.6
10.2

11.7
54.2

815
5,988

E.2 SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 2-6, 2004

For immediate release
March 22, 2004

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

2.57
2.33
2.29
4.06

26,235
15,011
7,473
3,751

525
603
460
424

3.0
3.0
3.1
3.1

139
68
85
528

29.9
29.7
15.7
59.1

34.0
42.8
19.2
28.3

16.0
11.1
12.6
42.5

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

3.59
3.57
3.06

4,597
11,268
21,472

222
235
602

3.4
3.2
3.3

78
55
87

56.7
66.8
57.0

18.2
26.8
30.4

50.2
50.3
35.6

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

3.38
2.86
3.79
4.36

11,662
6,940
1,752
2,970

244
291
114
345

2.8
2.7
3.0
3.1

264
136
121
646

53.7
49.2
65.2
57.6

9.5
3.0
7.4
26.0

34.9
23.9
53.2
49.8

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

3.67
3.62
3.20

3,984
9,757
16,984

196
206
492

3.4
3.2
3.2

88
57
105

61.6
75.4
69.3

12.4
20.1
26.9

56.4
56.0
43.0

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

2.67
2.29
2.95
3.74

8,161
5,857
341
1,963

1,030
978
512
1,547

2.8
2.6
3.1
3.2

239
55
15
825

40.9
41.3
42.7
39.5

10.7
2.1
5.7
37.2

22.9
15.9
45.3
40.0

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

3.49
3.48
3.07

3,405
8,676
15,426

310
295
516

3.5
3.2
3.1

88
56
88

58.3
73.5
66.7

13.9
22.3
29.4

53.6
53.8
38.3

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

5.04
5.91
4.00
5.57

3,501
1,082
1,412
1,008

88
61
96
137

2.9
3.0
3.0
2.8

322
574
146
298

83.6
91.7
70.7
92.9

6.8
7.9
7.8
4.3

62.9
67.6
55.1
68.8

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

4.74
4.70
4.47

580
1,081
1,558

62
60
337

2.9
3.4
4.2

83
59
273

81.1
90.5
94.6

3.6
2.2
1.6

72.8
73.2
88.9

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

1.91
1.88
1.83
2.89

14,573
8,072
5,721
781

6,433
7,346
6,212
3,178

3.2
3.3
3.1
3.0

39
10
75
78

10.9
13.0
.6
64.6

53.6
77.0
22.8
37.1

.9
.1
.2
15.1

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

3.05
3.24
2.55

613
1,510
4,488

1,582
2,908
3,879

3.2
2.9
3.5

18
47
16

24.8
11.2
10.4

55.9
70.3
43.6

9.5
13.7
7.7

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
4.08
.23

Domestic
banks
4.09
.23

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

Large domestic
banks
4.01
.23

Small domestic
banks
4.31
.18

Foreign
banks
4.00
.28

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.