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Recent Changes to the Federal Reserve's Survey of Terms of Business Lending

Author

Listed:
  • Thomas F. Brady
  • William B. English
  • William R. Nelson

Abstract

The Federal Reserve's quarterly Survey of Terms of Business Lending, which has been conducted for more than twenty years, collects information on interest rates and other characteristics of commercial bank business loans. The survey has been changed from time to time to recognize innovations in bank lending practices and to improve the measurement of the desired information. The most recent changes took effect with the May 1997 survey. The major improvement was the addition of an item measuring loan risk. In addition, the reporting panel, which had been limited to domestically chartered commercial banks was expanded to include a sample of U.S. branches and agencies of foreign banks, which now account for a significant proportion of business lending to U.S. firms. This article discusses the most recent changes made to the survey and presents some information now available from the new items being reported. It also summarizes information about the use of loan risk ratings from consultations conducted with a sample of the survey respondents during the process of planning the revisions to the survey.

Suggested Citation

  • Thomas F. Brady & William B. English & William R. Nelson, 1998. "Recent Changes to the Federal Reserve's Survey of Terms of Business Lending," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 84(8), pages .604-615, August.
    • Handle: RePEc:fip:fedgrb:89503
    DOI: 10.17016/bulletin.1998.84-8
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    Citations

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    Cited by:

    1. Seth B. Carpenter & William C. Whitesell & Egon Zakrajšek, 2001. "Capital requirements, business loans, and business cycles: an empirical analysis of the standardized approach in the new Basel Capital Accord," Finance and Economics Discussion Series 2001-48, Board of Governors of the Federal Reserve System (U.S.).
    2. Christian Grimme, 2023. "Uncertainty and the Cost of Bank versus Bond Finance," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 55(1), pages 143-169, February.
    3. Buch, Claudia M. & Eickmeier, Sandra & Prieto, Esteban, 2014. "In search for yield? Survey-based evidence on bank risk taking," Journal of Economic Dynamics and Control, Elsevier, vol. 43(C), pages 12-30.
    4. N. Berger, Allen & F. Udell, Gregory, 1998. "The economics of small business finance: The roles of private equity and debt markets in the financial growth cycle," Journal of Banking & Finance, Elsevier, vol. 22(6-8), pages 613-673, August.
    5. Leonardo Gambacorta & Anamaria Illes & Marco Jacopo Lombardi, 2014. "Has the transmission of policy rates to lending rates been impaired by the Global Financial Crisis?," BIS Working Papers 477, Bank for International Settlements.
    6. Treacy, William F. & Carey, Mark, 2000. "Credit risk rating systems at large US banks," Journal of Banking & Finance, Elsevier, vol. 24(1-2), pages 167-201, January.
    7. Anamaria Illes & Marco Jacopo Lombardi, 2013. "Interest rate pass-through since the financial crisis," BIS Quarterly Review, Bank for International Settlements, September.

    More about this item

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages

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