A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, November 4-8, 2002
Percent except as noted
_________________________________________________________________________________________________________________________________

Loan characteristic                               All    Minimal    Low    Moderate  Acceptable  Special  Not rated  Not reported
_________________________________________________________________________________________________________________________________

Volume of loans (thousands of dollars)          689,089   15,854  121,043   214,961     235,040   54,860     36,033        11,299
Number of loans                                  15,682      308    1,512     6,166       5,468      978        529           721
Weighted average maturity (months) 1              10.73    11.54     7.57     10.13       13.17     5.04      21.22         10.27
Weighted average repricing interval (months) 2     1.76     4.66     2.40      1.47        1.88      .02       1.14          3.80
Weighted average risk rating 3                     3.30     1.00     2.00      3.00        4.00     5.00       n.a.          n.a.

Weighted average interest rate 4                   4.74     4.48     4.21      4.72        4.98     5.24       4.00          6.09
  Standard error 5                                  .26      .20      .49       .39         .19      .45        .52           .50
  Interquartile range 6
    75th percentile                                5.39     4.86     4.60      5.39        5.48     5.90       4.59          6.66
    25th percentile                                3.30     3.56     3.30      3.30        4.32     4.33       3.43          5.60
  Purpose of loan
    Feeder livestock                               4.53     5.68     3.98      5.32        4.55     4.51       5.28          6.63
    Other livestock                                4.44     3.65     5.42      4.16        4.51     4.22       5.10          6.15
    Other current operating expenses 7             5.36     4.73     6.10      5.15        5.34     5.85       3.90          6.58
    Farm machinery and equipment                   6.28     8.40     6.23      6.21        6.03     n.a.       5.82          6.50
    Farm real estate                               5.12     3.71     6.85      4.81        5.42     7.50       4.38          7.82
    Other 8                                        4.17     4.82     3.37      4.12        4.80     4.48       3.98          5.34

Share of total loan volume
  Features of loan
    Floating rates                                90.75    45.82    87.25     88.23       95.43    99.78      98.04         74.68
    Under commitment                              93.30    65.88    95.94     93.97       91.13    99.72      95.06         99.02
    Callable                                      12.71    50.38    13.79     12.04       11.51     1.03       1.07         79.97
    Subject to prepayment penalty                  3.96     2.47      .84      9.22        1.41     4.88        .24          n.a.
  Purpose of loan
    Feeder livestock                               9.82     1.10    21.41      7.59        9.74     3.40        .29          3.52
    Other livestock                               10.67    17.07     3.80     12.99       13.63     7.26        .30         19.20
    Other current operating expenses 7            37.50    49.38    18.86     44.83       38.11    56.83      17.49         38.23
    Farm machinery and equipment                   1.41     2.78     2.32      1.83         .94      .05        .84          n.a.
    Farm real estate                               3.09    18.44     1.50      1.26        4.63      .01       7.58          1.90
    Other 8                                       37.51    11.23    52.11     31.50       32.95    32.50      74.26         34.47
  Type of collateral
    Farm real estate                               5.40     5.85     3.07      3.96        7.46     2.10      13.73          4.06
    Other                                         84.12    93.03    93.58     83.35       80.28    91.27      69.99         74.96
_________________________________________________________________________________________________________________________________
   Note. Most large farm lenders that reported loans to farmers had more than $25 million in farm loans.
   For explanation of footnotes, see table A.8.
   n.a. Not available.

17