FEDERAL RESERVE statistical release

E.2

For Immediate Release
March 20, 2003

SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 3-7, 2003
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

3.20
2.14
2.50
3.36
3.38

66,049
2,394
9,431
18,368
26,042

412
385
801
358
491

295
509
548
259

377

41.9
44.6
19.0
50.8
46.7

10.1
6.3
6.2
20.3
4.9

25.5
38.6
30.8
16.1
28.3

71.7
80.7
64.0
83.5
70.3

Foreign
Foreign
Fed Funds
Prime
Foreign

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

3.92
1.64
2.55
4.25
5.20

12,174
871
3,176
4,462
3,323

217
716
698
195
167

452
314
294
505
580

56.3
66.6
19.0
70.3
67.1

18.0
5.6
4.0
29.7
16.3

8.1
63.3
4.0
5.1
2.3

73.5
87.9
28.0
91.2
88.4

Prime
Foreign
Fed Funds
Prime
Prime

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

2.82
1.81
2.02
3.03
2.62

22,661
362
2,479
4,250
10,408

539
1,398
1,915
447
803

240
24
101
771
70

29.7
6.5
7.5
39.3
30.5

12.0
12.0
4.4
41.2
3.1

27.9
-80.4
3.2
23.6

62.7
96.5
77.1
65.1
58.6

Fed Funds
Fed Funds
Fed Funds
Domestic
Fed Funds

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

2.95
2.64
2.56
2.77
3.25

18,768
582
2,396
5,377
7,872

625
348
887
737
587

375
183
1,213
418
174

37.0
27.0
9.5
35.9
49.1

5.3
7.0
6.0
7.8
2.5

35.3
21.3
17.6
29.7
48.3

77.0
81.7
88.1
89.4
69.7

Foreign
Fed Funds
Other
Foreign
Foreign

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

3.28
2.40
2.93
3.23
3.78

9,313
511
1,050
3,118
3,153

484
208
459
455
959

347
461
376
343
392

50.9
51.7
54.4
58.5
55.4

4.7
2.3
14.7
3.4
4.0

29.7
44.4
34.0
31.4
31.0

76.1
60.6
78.8
86.7
83.4

Foreign
Foreign
Foreign
Foreign
Foreign

78.8
59.2
81.7
68.7
89.7

5.7
0.1
28.2
5.0
2.4

4.3
34.1
4.2
2.0
4.2

82.3
45.6
81.7
83.7
88.8

Other
Other
Other
Other
Foreign

82.7
70.3
38.5
32.2

27.5
17.9
8.9
7.1

2.2
6.9
23.3
34.1

84.7
88.0
78.3
61.9

Prime
Prime
Foreign
Fed Funds

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

4.71
4.08
4.84
4.43
4.77

2,796
62
181
1,072
1,211

243
103
212
241
416

WeightedAverage Risk
Rating2

Size and base rate

41
39
51
36
43
WeightedAverage
Maturity/
Repricing
Interval3
Days

31
32
33
34

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

5.34
4.47
3.32
2.58

2,856
9,684
19,799
33,710

3.4
3.4
3.4
3.3

135
115
81
47

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

Prime7
Fed funds
Other domestic
Foreign
Other

Footnotes appear on the last page.

4.73
1.98
2.51
2.90
3.33

16,454
14,465
5,265
17,926
11,939

3.4
3.4
3.0
3.4
3.3

64
16
23
93
136

70.4
2.4
16.9
47.4
53.0

21.1
2.0
32.7
3.6
4.7

1.7
35.9
47.5
46.8
3.8

90.0
60.1
23.2
79.3
70.2

154
6,284
2,311
1,922
302

E.2

For Immediate Release
March 20, 2003

SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 3-7, 2003
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

3.68
2.15
2.69
3.59
4.66

39,833
1,531
6,184
14,509
10,484

258
250
561
290
209

343
670
664
584

579

55.0
63.5
22.7
59.9
72.4

16.6
9.8
9.5
25.2
12.2

4.0
37.6
5.1
2.4
2.0

77.9
80.8
55.5
81.5
85.6

Prime
Other
Other
Prime
Prime

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

3.89
1.63
2.39
4.27
5.30

11,150
868
2,869
4,198
2,873

202
719
654
185
148

444
315
242
496
621

58.0
66.5
15.5
72.4
73.4

19.7
5.6
4.4
31.6
18.9

8.7
63.5
4.1
5.4
2.7

71.1
87.8
20.3
90.6
86.8

Prime
Foreign
Fed Funds
Prime
Prime

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

3.67
1.88
3.03
3.21
4.34

9,892
77
490
3,639
2,227

243
329
421
389
183

573
173
191
911
360

50.6
30.3
38.1
45.9
65.2

27.5
55.9
22.2
48.1
14.6

1.0
-1.3
1.3
0.1

76.0
83.4
79.3
60.3
81.6

Prime
Prime
Other
Domestic
Prime

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

3.28
2.76
2.77
2.88
4.47

9,882
323
1,847
3,369
2,533

357
199
760
510
206

665
314
1,531
635
435

44.0
48.6
9.6
46.9
67.7

9.4
12.5
7.8
10.3
7.5

1.0
0.1
0.1
0.3
0.3

86.3
90.1
92.8
88.2
82.1

Other
Other
Other
Foreign
Foreign

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

3.54
2.93
2.92
3.65
4.22

5,942
193
795
2,153
1,574

325
79
366
323
574

372
256
359
403
476

63.3
88.4
56.2
76.2
74.1

7.3
6.0
19.4
4.9
8.1

5.3
1.4
23.1
2.2
4.8

77.4
44.0
75.4
87.3
91.8

Foreign
Other
Foreign
Foreign
Foreign

78.8
59.2
81.7
68.7
89.6

5.7
0.1
28.2
5.0
2.4

4.3
34.1
4.2
2.0
4.2

82.3
45.6
81.7
83.7
88.8

Other
Other
Other
Other
Foreign

83.2
75.2
51.8
41.0

27.7
19.6
13.8
15.2

1.9
2.3
2.6
6.6

84.7
88.3
83.5
66.2

Prime
Prime
Prime
Foreign

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

4.70
4.08
4.84
4.43
4.77

2,794
62
181
1,072
1,209

243
103
212
241
416

WeightedAverage Risk
Rating2

Size and base rate

41
39
51
36
43
WeightedAverage
Maturity/
Repricing
Interval3
Days

31
32
33
34

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

5.35
4.56
3.61
2.94

2,826
8,762
12,792
15,453

3.4
3.4
3.2
2.8

136
124
113
85

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

Prime7
Fed funds
Other domestic
Foreign
Other

Footnotes appear on the last page.

4.71
1.89
2.41
3.13
3.49

15,699
3,284
2,770
8,928
9,151

3.4
2.4
2.9
3.2
2.9

66
44
34
154
174

72.0
8.1
32.0
51.8
52.8

21.6
8.8
62.2
7.2
6.2

1.4
0.7
0.1
10.7
4.3

89.8
29.5
42.2
79.7
84.0

149
4,378
1,450
1,228
234

E.2

For Immediate Release
March 20, 2003

SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 3-7, 2003
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

3.49
1.72
2.32
3.37
4.55

34,391
1,127
5,378
12,892
9,150

417
538
2,139
555
286

230
625
612
569

549

51.5
62.9
14.1
56.6
69.8

15.4
9.0
7.1
24.8
10.2

3.5
39.8
5.4
1.9
1.0

79.4
81.7
55.2
81.5
86.9

Prime
Foreign
Fed Funds
Prime
Prime

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

3.64
1.19
2.00
4.11
5.35

8,649
589
2,423
3,389
2,232

440
1,530
4,691
336
261

399
148
107
496
679

51.1
66.3
5.3
69.4
69.3

16.5
0.7
0.5
32.1
14.0

9.0
75.9
4.2
5.3
2.3

69.5
85.6
17.1
91.6
88.6

Prime
Foreign
Fed Funds
Prime
Prime

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

3.63
1.71
2.76
3.03
4.26

9,119
74
431
3,330
2,108

252
554
611
455
189

529
178
153
773
356

49.7
27.4
30.2
42.0
63.7

28.2
58.2
20.8
49.4
15.0

0.5
-1.4
0.0
0.0

77.8
84.9
81.0
57.0
83.6

Prime
Prime
Other
Domestic
Prime

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

3.23
2.73
2.66
2.78
4.43

9,139
301
1,796
3,206
2,307

444
212
1,751
812
230

685
323
1,562
631
404

42.9
48.8
7.7
44.9
65.5

8.5
13.4
7.1
8.4
7.1

0.9
--0.2
0.0

87.4
89.5
93.0
87.7
80.8

Other
Other
Other
Foreign
Foreign

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

3.24
1.66
2.20
3.43
4.07

5,188
130
644
2,023
1,415

1,994
1,282
3,304
2,292
1,552

381
255
366
393
508

60.2
94.4
47.2
76.0
71.7

6.0
6.3
23.7
4.3
3.8

4.5
1.4
28.3
2.3
0.0

78.1
41.0
71.2
88.9
92.1

Foreign
Other
Foreign
Foreign
Foreign

75.1
84.7
66.9
62.9
88.8

2.4
--4.0
1.6

2.6
-0.0
1.7
3.4

94.1
97.5
92.6
94.6
96.1

Foreign
Other
Other
Prime
Foreign

81.0
70.7
51.5
40.3

27.9
16.2
13.7
15.1

0.7
1.1
2.4
5.6

90.8
93.7
87.8
66.0

Prime
Prime
Prime
Foreign

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

4.09
2.43
2.60
3.92
4.38

2,126
26
83
868
1,020

895
639
1,443
1,081
1,180

WeightedAverage Risk
Rating2

Size and base rate

34
34
29
30
39
WeightedAverage
Maturity/
Repricing
Interval3
Days

31
32
33
34

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

4.68
4.24
3.62
2.95

1,572
6,391
11,315
15,112

3.6
3.5
3.3
2.9

45
65
109
86

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

Prime7
Fed funds
Other domestic
Foreign
Other

Footnotes appear on the last page.

4.54
1.87
2.31
3.12
3.29

12,457
3,217
2,679
8,522
7,515

3.4
2.4
3.0
3.2
2.9

54
25
12
159
118

68.1
7.9
30.2
51.4
50.4

19.0
8.2
63.9
6.2
5.8

0.9
0.1
-10.0
3.1

92.6
28.8
41.1
79.8
92.5

220
5,435
3,688
1,288
420

E.2

For Immediate Release
March 20, 2003

SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 3-7, 2003
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

4.90
3.33
5.20
5.35
5.42

5,442
404
806
1,617
1,335

76
100
95
60
74

722
999
1,110
685

778

77.1
65.1
80.5
86.0
90.5

24.1
12.0
25.0
28.8
26.4

7.3
31.3
3.3
6.6
9.4

68.4
78.3
57.6
81.2
76.4

Prime
Other
Prime
Prime
Prime

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

4.74
2.56
4.50
4.94
5.12

2,501
279
446
809
641

70
340
115
64
59

622
771
1,152
493
426

81.9
66.7
71.1
84.9
87.8

30.9
16.1
25.4
29.5
35.9

7.7
37.3
3.6
6.0
3.9

76.5
92.6
37.6
86.4
80.4

Prime
Other
Prime
Prime
Prime

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

4.13
-5.01
5.26
5.62

773
-59
309
119

172
-129
151
112

1,032
-422
2,324
419

61.2
-95.4
87.0
92.9

19.8
-32.5
33.6
8.1

6.4
-0.8
15.5
1.0

55.1
-67.2
95.7
46.0

Prime
-Prime
Prime
Prime

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

3.91
3.24
6.29
4.72
4.86

743
22
52
163
226

104
109
37
61
99

425
179
374
709
736

58.0
46.5
77.9
85.5
89.7

20.5
1.2
31.5
49.5
11.7

1.3
1.2
2.5
1.2
2.8

72.0
98.7
86.1
98.2
95.1

Prime
Prime
Prime
Prime
Prime

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

5.59
5.53
6.00
6.97
5.53

754
64
150
130
159

48
27
76
22
87

310
259
329
556
202

84.7
76.4
94.7
79.9
96.3

16.5
5.4
0.8
14.8
46.3

10.7
1.4
0.9
1.1
47.6

72.5
50.0
93.1
62.7
88.5

Other
Other
Prime
Other
Foreign

90.6
40.9
94.1
93.2
94.2

16.1
0.2
51.9
9.3
6.3

9.8
58.7
7.7
3.3
8.5

44.5
8.1
72.6
37.2
49.1

Other
Fed Funds
Prime
Other
Other

86.1
87.4
53.6
--

27.6
28.7
14.7
--

3.5
5.4
4.1
--

77.0
73.7
50.9
--

Prime
Prime
Prime
--

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

6.66
5.28
6.73
6.59
6.87

668
36
99
204
189

73
64
124
56
92

WeightedAverage Risk
Rating2

Size and base rate

62
43
71
64
65
WeightedAverage
Maturity/
Repricing
Interval3
Days

31
32
33
34

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

6.18
5.43
3.55
--

1,254
2,371
1,477
--

3.1
3.2
2.8
--

248
282
143
--

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

Prime7
Fed funds
Other domestic
Foreign
Other

Footnotes appear on the last page.

5.35
3.03
5.48
3.37
4.42

3,242
67
91
406
1,636

3.2
1.9
2.7
2.6
2.6

109
932
694
46
429

87.0
17.4
85.8
59.2
64.0

31.7
39.7
11.8
27.8
8.2

3.3
31.7
4.4
26.0
9.8

78.9
63.8
73.0
77.1
45.2

66
422
77
620
77

E.2

For Immediate Release
March 20, 2003

SURVEY OF TERMS OF BUSINESS LENDING, FEBRUARY 3-7, 2003
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

2.47
2.11
2.12
2.51
2.52

26,216
863
3,247
3,859
15,558

4,691
8,425
4,359
3,104
5,170

220
202
112
58

87

21.9
11.1
11.8
16.6
29.4

0.3
--1.8
0.0

58.1
40.3
79.8
67.6
46.0

62.1
80.6
80.1
90.9
60.0

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

4.27
-4.11
3.95
4.58

1,024
-307
265
450

1,095
-1,832
1,263
819

551
-784
682
293

37.0
-51.7
37.1
26.7

0.0
---0.1

1.2
-3.3
0.6
--

99.4
-100.0
100.0
98.7

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

2.16
-1.77
1.90
2.15

12,769
-1,989
612
8,181

9,819
-15,256
4,150
10,544

14
-81
1
1

13.5
---21.0

0.0
-----

48.8
-99.9
14.0
30.0

52.4
-76.6
93.8
52.4

Fed Funds
-Fed Funds
Fed Funds
Fed Funds

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

2.59
-1.86
2.60
2.67

8,886
-548
2,008
5,339

3,836
-2,031
2,888
4,733

66
-218
41
56

29.2
-9.0
17.5
40.3

0.8
--3.5
0.1

73.4
-76.8
79.2
71.1

66.7
-72.1
91.4
63.9

Foreign
-Foreign
Foreign
Foreign

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

2.81
-2.94
2.31
3.34

3,371
-255
965
1,578

3,526
-2,194
5,181
2,890

303
-431
211
310

29.0
-48.7
18.8
36.7

------

72.7
-68.0
96.4
57.1

73.8
-89.5
85.3
75.2

Foreign
-Foreign
Foreign
Foreign

------

------

------

------

------

28
31
22
15

34.4
23.0
14.3
24.7

3.5
1.3
0.1
0.3

24.8
50.8
61.0
57.3

85.9
86.0
68.9
58.3

Fed Funds
Fed Funds
Fed Funds
Foreign
Fed Funds
Prime
-Foreign
Prime
Other

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

------

------

------

WeightedAverage Risk
Rating2

Size and base rate

------

WeightedAverage
Maturity/
Repricing
Interval3
Days

31
32
33
34

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

4.46
3.55
2.80
2.29

31
921
7,007
18,257

3.9
3.5
3.6
3.8

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.

5.28
2.00
2.62
2.67
2.82

755
11,181
2,495
8,998
2,788

3.6
3.6
4.1
3.6
4.5

23
8
10
33
9

38.0
0.8
0.1
43.1
53.5

10.1
---0.0

8.6
46.2
100.0
82.7
2.0

95.8
69.1
2.1
78.9
24.9

690
7,205
6,784
4,383
5,347

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 Mach 31, 2001, assets of the large banks were at least $4 billion. Median total assets for all
insured banks were roughly $80 million. Assets at all U.S. branches and agencies averaged $2.7
billion.
2. A complete description of these risk categories is available in the 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 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 0.20 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 4.31 percent for all banks, 4.25 percent for large domestic banks, 4.55
percent for small domestic banks, and 4.27 percent for U.S. branches and agencies of foreign banks.