FEDERAL RESERVE statistical release

E.2 SURVEY OF TERMS OF BUSINESS LENDING, AUGUST 2-6, 2004
For immediate release
October 1, 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

3.51
2.48
2.64
3.29
3.91

74,015
2,219
13,633
23,693
23,104

454
640
933
500
437

496
421
637
568
398

42.1
36.4
17.0
47.5
54.6

26.5
12.5
47.1
23.9
11.1

29.4
16.7
12.5
29.5
40.9

77.7
82.4
79.2
83.4
73.8

17.3
5.1
16.0
16.3
20.4

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

4.52
2.75
3.96
4.43
4.92

13,304
372
1,337
4,435
5,071

178
272
283
203
180

641
411
629
637
739

68.1
52.4
45.6
65.7
72.4

6.9
30.7
1.4
2.7
2.7

69.2
19.9
38.5
79.9
79.0

90.8
99.1
97.2
92.5
86.4

14.3
4.0
14.7
14.1
15.4

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

2.56
1.99
1.99
2.73
2.74

24,657
695
5,729
7,481
6,612

840
1,568
2,377
815
1,090

202
63
293
279
59

29.8
23.7
4.4
44.3
36.8

29.7
5.9
55.7
17.3
14.1

16.1
17.0
4.6
19.9
8.2

63.5
84.9
65.1
83.7
44.0

24.2
5.5
32.4
19.0
17.6

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

3.07
2.07
2.32
3.05
3.93

15,479
644
3,068
5,652
4,203

708
3,070
1,507
1,300
366

475
503
689
483
296

36.6
26.8
14.0
43.1
51.1

31.3
14.1
54.1
37.0
17.5

17.8
2.6
6.2
13.0
35.4

78.2
72.0
95.5
76.7
70.3

11.3
1.8
5.1
13.4
12.6

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

4.18
3.33
3.29
3.15
3.83

16,236
467
3,082
4,715
5,276

705
577
810
607
1,349

533
759
919
721
293

41.7
51.2
23.4
46.1
60.6

34.6
6.4
47.0
32.6
13.1

23.4
32.3
18.4
14.4
40.9

87.7
83.8
82.0
87.4
94.1

18.2
9.6
7.0
19.0
30.7

50.4
87.7
66.9
27.5
57.2

23.2
4.9
31.2
46.9
3.3

44.9
10.3
39.3
36.2
62.9

77.6
25.1
78.3
64.3
94.9

14.3
6.0
2.4
7.1
21.1

84.3
73.2
45.9
26.9

5.7
8.6
21.0
37.2

74.2
69.9
33.6
11.0

84.4
90.4
80.2
71.7

13.8
14.3
16.4
19.5

88.8
73.0

19.5
16.3

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

4.99
5.52
5.55
4.15
5.57

3,999
33
335
1,295
1,806

336
55
208
360
861

Weightedaverage risk
rating3

Size of loan
($ thousands)

58
50
114
58
43
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

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

5.24
4.42
3.45
3.13

2,954
10,631
24,378
36,052

3.4
3.4
3.2
3.1

148
94
116
94

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

4.69
3.01

21,773
52,242

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

3.5
3.1

136
90

72.3
29.5

5.8
35.2

191
1,063

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

For immediate release
October 1, 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

3.70
2.91
2.79
3.60
4.39

48,143
1,320
9,187
16,088
14,630

305
404
656
354
288

702
650
862
774
561

53.4
55.8
22.3
51.9
71.4

19.5
11.0
51.5
17.2
5.4

43.2
28.1
16.4
40.4
62.6

86.5
77.6
91.1
83.7
89.1

19.6
6.6
19.6
16.1
21.9

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

4.50
2.77
3.78
4.42
4.90

12,691
362
1,143
4,151
4,947

171
265
245
193
178

636
411
606
630
740

68.7
51.1
48.1
65.4
72.7

7.3
31.6
1.6
2.9
2.8

68.8
20.4
36.9
79.0
78.8

90.3
99.0
96.8
92.0
86.1

13.9
4.1
13.8
13.5
15.3

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

2.98
2.28
2.06
3.13
4.29

11,145
224
3,379
4,135
1,048

400
656
1,516
476
191

448
185
456
514
452

38.1
52.2
5.7
47.8
74.3

31.5
.0
76.9
19.6
.4

34.4
52.8
7.8
33.5
47.4

86.1
53.1
98.3
79.7
65.3

28.2
6.3
36.3
16.3
15.1

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

3.19
2.38
2.40
3.16
4.25

9,444
288
2,306
3,319
2,387

462
1,910
1,235
878
217

668
1,074
797
687
463

49.9
59.8
18.3
49.2
83.9

23.4
.0
53.8
25.2
2.0

27.9
5.8
8.2
20.8
59.3

87.6
68.9
97.4
83.8
92.5

13.4
3.7
6.2
15.6
12.6

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

3.65
3.51
3.49
3.37
3.85

10,901
404
1,943
3,099
4,660

500
523
536
423
1,359

696
746
1,314
934
299

52.6
55.6
30.1
51.4
62.1

16.6
7.4
39.5
12.6
11.7

32.7
37.4
23.7
20.6
44.7

85.2
81.9
71.4
85.6
94.3

24.3
11.4
9.7
22.8
32.4

55.7
87.7
66.9
28.0
71.0

25.6
4.9
31.2
47.7
4.1

48.9
10.3
39.3
34.9
78.2

75.3
25.1
78.3
63.6
93.7

16.2
6.0
2.4
7.3
26.5

84.5
76.6
59.3
31.2

5.6
6.5
12.4
34.7

74.2
72.9
44.8
21.2

84.3
90.6
87.5
83.8

13.7
14.4
18.9
24.1

88.3
85.2

19.8
19.5

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

4.63
5.52
5.55
4.14
4.80

3,621
33
335
1,269
1,453

306
55
208
359
696

Weightedaverage risk
rating3

Size of loan
($ thousands)

56
50
114
58
36
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

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

5.25
4.48
3.81
2.94

2,930
9,851
16,636
18,727

3.4
3.4
3.3
3.0

149
97
164
153

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

4.69
2.95

20,779
27,364

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

3.5
2.9

140
149

73.9
37.9

5.3
30.2

185
603

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

For immediate release
October 1, 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

3.40
2.55
2.39
3.34
4.24

39,724
1,115
7,715
14,009
11,217

487
1,827
2,253
662
359

646
683
660
732
573

46.5
50.9
14.2
47.0
64.3

22.9
13.1
59.6
19.1
6.6

37.3
26.3
10.2
35.4
54.7

87.8
83.2
94.6
84.0
87.9

20.6
5.6
22.0
17.4
21.1

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

4.35
2.51
3.40
4.19
4.87

10,095
317
876
3,032
4,299

269
1,093
1,074
309
267

664
421
668
631
785

63.9
45.7
39.6
58.0
69.7

8.6
36.1
2.0
2.7
2.8

66.4
10.6
27.1
74.1
77.8

91.4
99.7
97.7
95.0
86.2

15.0
3.6
15.7
14.8
15.8

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

2.92
2.14
2.05
3.06
4.21

10,292
217
2,972
3,995
887

475
2,179
3,745
619
226

449
164
508
518
232

37.1
50.7
4.1
46.7
72.2

34.0
.0
87.3
20.2
.4

32.4
51.3
6.2
31.3
37.9

85.2
51.7
98.1
79.1
59.4

30.6
6.0
41.3
16.8
18.7

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

3.09
2.34
2.31
3.06
4.22

8,801
262
2,242
3,147
2,068

601
2,624
1,852
1,261
261

666
1,139
737
686
476

48.0
62.0
16.0
48.1
86.0

24.7
.0
55.3
26.2
1.2

25.1
2.7
8.1
17.8
55.3

88.4
69.0
97.8
84.5
95.0

14.1
1.5
6.3
16.2
14.1

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

3.04
2.96
2.59
3.00
3.36

8,104
307
1,461
2,664
3,179

2,183
4,831
3,116
2,402
2,247

627
921
810
836
339

38.6
46.2
12.5
45.7
45.0

21.8
9.7
50.7
14.3
17.1

17.1
42.9
5.4
16.6
21.9

88.9
100.0
84.7
85.7
91.8

23.8
9.9
9.5
25.6
31.5

26.2
...
6.3
15.5
36.4

37.7
...
5.9
54.3
7.8

45.6
...
82.8
36.4
75.2

76.8
...
59.2
63.6
95.0

15.1
...
11.3
8.3
27.0

81.1
72.6
54.2
26.8

9.3
7.7
15.0
36.3

79.5
72.9
39.7
17.2

91.6
94.4
90.5
82.8

16.3
16.6
19.0
24.2

90.8
86.0

20.2
20.8

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

3.98
...
3.47
3.70
4.56

2,104
...
83
1,066
653

905
...
668
1,383
813

Weightedaverage risk
rating3

Size of loan
($ thousands)

47
...
40
52
38
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

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

4.57
4.21
3.59
2.82

1,537
7,264
13,303
17,619

3.6
3.5
3.2
2.9

44
59
116
130

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

4.48
2.76

14,828
24,896

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

3.5
2.9

115
105

67.1
34.2

6.9
32.5

236
1,327

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

For immediate release
October 1, 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

5.09
4.86
4.86
5.33
4.91

8,420
204
1,472
2,079
3,413

110
77
139
86
174

969
467
1,949
1,095
522

86.3
82.5
65.1
84.7
94.5

3.2
.0
8.8
4.1
1.5

70.7
38.0
48.6
74.6
88.4

80.3
47.0
72.8
82.0
92.9

14.5
16.7
3.6
7.2
24.4

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

5.07
4.60
5.01
5.05
5.09

2,596
45
267
1,119
648

71
42
69
96
56

513
334
311
627
424

87.6
88.6
75.9
85.3
93.1

2.2
.0
.2
3.4
2.8

78.4
89.3
69.1
92.1
85.4

86.0
94.4
93.6
83.8
85.6

9.4
7.4
7.2
9.5
12.2

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

3.69
...
2.16
5.28
4.74

853
...
407
141
161

138
...
284
63
103

434
...
90
427
1,362

50.2
...
17.2
78.9
86.0

.3
...
.5
.3
.0

57.7
...
19.3
96.9
100.0

96.9
...
99.6
95.7
98.0

1.5
...
.6
4.8
1.9

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

4.53
...
5.67
4.99
4.42

642
...
64
172
319

111
...
98
134
103

685
...
2,787
709
388

74.6
...
98.7
70.4
70.1

5.1
...
.0
6.2
7.0

66.9
...
12.0
76.2
85.1

76.8
...
83.3
71.5
75.9

2.6
...
.6
3.9
.5

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

5.41
5.25
6.23
5.62
4.91

2,797
97
482
435
1,481

155
137
153
70
735

900
196
2,839
1,543
213

93.2
85.4
83.5
86.3
98.7

1.4
.0
5.7
2.4
.0

78.1
20.1
79.2
45.3
93.7

74.5
24.8
31.0
85.0
99.5

26.4
30.7
11.2
5.0
34.2

96.6
98.3
87.0
93.7
99.3

8.9
.0
39.6
13.0
1.1

53.5
4.8
24.9
27.1
80.6

73.2
17.3
84.6
63.8
92.6

17.8
4.0
.4
2.0
26.1

88.4
87.7
79.8
100.0

1.6
3.1
2.1
8.7

68.4
72.9
65.3
84.8

76.4
79.9
75.6
100.0

10.3
7.0
18.6
23.4

81.8
76.5

18.7
3.9

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

5.54
5.48
6.24
6.47
4.99

1,517
29
252
203
800

160
51
169
73
623

Weightedaverage risk
rating3

Size of loan
($ thousands)

70
49
139
92
34
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

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

6.00
5.23
4.67
4.87

1,393
2,588
3,332
1,107

3.2
3.1
3.6
4.0

262
205
355
533

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

5.20
4.81

5,952
2,468

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

3.7
2.7

201
598

91.0
75.1

1.4
7.4

120
93

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

For immediate release
October 1, 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

3.15
1.87
2.33
2.63
3.07

25,872
900
4,446
7,605
8,474

5,116
4,437
7,394
4,033
4,307

134
74
174
153
137

21.0
8.1
5.9
38.3
25.7

39.7
14.7
38.1
38.0
20.8

3.8
.0
4.5
6.3
3.6

61.2
89.6
54.6
82.8
47.5

11.4
3.2
3.7
16.6
15.7

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

4.87
...
4.99
4.55
5.67

613
...
194
284
124

761
...
2,803
887
303

762
...
792
784
698

56.3
...
30.8
70.7
59.7

.0
...
.0
.0
.0

76.4
...
48.0
94.2
86.3

99.6
...
100.0
100.0
98.2

20.9
...
20.0
23.2
18.7

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

2.21
1.85
1.89
2.24
2.45

13,512
471
2,350
3,346
5,564

8,915
4,642
12,952
6,815
9,565

17
3
66
20
2

22.9
10.1
2.5
39.9
29.7

28.3
8.8
25.4
14.5
16.6

1.1
.0
.0
3.1
.9

44.9
100.0
17.3
88.7
40.0

17.9
5.3
.0
22.0
18.4

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

2.89
1.83
2.06
2.88
3.51

6,035
355
762
2,333
1,816

4,262
6,055
4,510
4,111
3,768

180
48
376
192
83

15.9
.0
1.1
34.3
8.1

43.6
25.5
54.9
53.9
37.8

2.0
.0
.1
1.8
4.1

63.5
74.5
89.8
66.6
41.1

6.8
.5
1.5
9.6
12.7

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

5.25
...
2.95
2.73
3.67

5,334
...
1,139
1,616
616

4,283
...
6,278
3,648
1,278

191
...
182
306
244

19.4
...
12.0
35.9
48.9

71.4
...
59.7
71.0
24.0

4.3
...
9.5
2.4
11.9

92.8
...
100.0
90.9
93.0

6.6
...
3.6
12.1
17.8

.0
...
...
.0
...

.3
...
...
4.5
...

6.7
...
...
100.0
...

100.0
...
...
100.0
...

.2
...
...
2.1
...

49.6
31.4
17.0
22.3

12.7
36.3
39.5
39.9

69.8
31.8
9.4
.0

94.7
87.7
64.4
58.6

18.8
12.3
9.1
12.4

99.8
59.7

13.4
11.2

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

8.44
...
...
4.41
...

378
...
...
25
...

5,061
...
...
398
...

Weightedaverage risk
rating3

Size of loan
($ thousands)

69
...
...
25
...
Weightedaverage
maturity/
repricing
interval2
Days

31.
32.
33.
34.

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

4.71
3.69
2.68
3.34

24
779
7,743
17,326

3.7
3.4
3.0
3.4

20
56
14
29

Average size
($ thousands)

Base rate of loan7
35. Prime8
36. Other

4.71
3.09

994
24,878

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

3.2
3.2

41
25

39.2
20.3

15.8
40.6

779
6,578

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

For immediate release
October 1, 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

3.53
3.05
2.71
5.33

28,825
16,523
5,455
6,847

553
616
353
697

3.2
3.4
2.9
2.9

115
125
75
124

29.5
31.8
20.3
31.3

31.1
34.5
14.5
36.1

16.2
14.8
16.6
19.5

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

3.51
3.75
3.36

9,921
11,456
23,780

339
282
593

3.0
3.1
3.3

145
86
80

47.3
49.9
51.3

29.6
26.1
20.0

38.8
39.8
36.4

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

3.97
4.06
4.39
3.63

11,975
6,494
1,624
3,857

242
253
113
407

3.0
3.1
3.1
2.8

249
311
231
154

51.3
49.7
67.9
46.9

9.8
7.8
10.6
13.0

38.0
37.5
52.0
32.8

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

3.55
3.83
3.52

8,047
9,248
18,840

280
231
486

3.0
3.2
3.3

154
102
97

49.8
57.9
54.1

23.9
21.6
22.7

43.9
48.0
43.7

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

3.28
3.37
2.38
3.27

7,918
4,834
470
2,614

858
705
1,181
1,325

3.1
3.2
3.0
2.9

158
196
15
115

36.8
37.0
16.2
40.0

11.9
9.4
1.2
18.5

26.6
28.1
14.6
26.1

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

3.34
3.67
3.35

7,057
8,201
16,548

375
326
584

2.9
3.2
3.2

151
88
77

43.9
53.6
48.7

27.2
24.3
25.7

39.7
46.3
37.0

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

5.30
6.06
5.20
4.39

4,057
1,661
1,153
1,243

101
88
82
165

2.8
2.7
3.2
2.6

427
646
319
235

79.6
86.6
89.0
61.5

5.7
2.9
14.4
1.5

60.2
65.1
67.3
47.0

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

5.05
5.08
4.72

990
1,047
2,292

99
71
219

3.7
3.7
4.1

179
205
235

92.2
91.6
93.0

.3
.9
1.0

73.6
61.6
92.0

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

3.22
2.40
2.00
7.52

16,850
10,029
3,831
2,990

6,528
8,477
3,626
8,754

3.3
3.6
2.8
3.0

20
6
9
85

14.0
20.2
.2
11.1

46.2
51.8
16.2
65.8

.8
.0
1.6
2.4

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

3.34
3.41
2.74

1,874
2,208
4,940

3,776
3,419
3,703

3.0
2.8
3.3

107
21
15

36.8
16.0
40.9

54.2
44.8
9.6

16.8
5.6
8.5

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
4.29
.16

Domestic
banks
4.29
.17

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

Large domestic
banks
4.25
.15

Small domestic
banks
4.39
.20

Foreign
banks
4.25
.23

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.