A.14. Survey of Terms of Bank Lending to Farmers, Selected Quarters
Percent excpet as noted
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                                                  USDA Farm Production Region
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                                NE      LS      CB      NP      AP      SE      DL      SP      MN      PA
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Proportion of farm loans
 outstanding,  2003 Q4 survey,
 region share of national
 total                          2.8	 9.4	27.7	17.4	 8.9	 4.6	 4.7	 8.6	5.5	 10.5

Sample coverage, 2003 Q4
 survey, sample share of total
 regional loans                 13.5	2.7	21.1	9.7	18.2	17.1	 9.4	5.1	9.5	58.7

Avg. loan size, 2004 Q2 survey
(thousands of dollars)          32.1	39.0	45.2	20.4	130.8	31.0	76.4	41.3	21.9	52.6
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Survey date                             Weighted average interest rate during sample week
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    1998    Q3        |         10.2    9.5     9.5     9.5     8.8     9.5     9.7     9.5     9.6     8.5
            Q4        |         9.4     9.2     8.7     9.0     8.3     9.4     9.7     9.2     9.1     8.0
    1999:   Q1        |         8.4     8.9     8.9     9.1     8.2     9.0     9.6     9.1     9.0     7.5
            Q2        |         9.6     9.1     8.8     9.0     8.0     9.0     9.8     9.0     8.7     8.0
            Q3        |         10.2    8.9     8.7     9.3     8.2     8.9     10.0    8.8     9.0     8.5
            Q4        |         9.1     9.2     8.8     9.4     8.3     8.8     9.8     9.0     9.5     8.8
    2000:   Q1        |         9.4     9.2     9.2     9.6     8.4     9.8     9.3     10.0    9.8     8.4
            Q2        |         10.7    9.5     9.7     9.7     9.1     9.1     10.5    10.0    10.1    9.5
            Q3        |         10.5    10.30   10.0    10.3    9.7     9.2     10.5    10.0    10.6    9.7
            Q4        |         10.7    9.3     9.9     10.1    9.2     9.4     9.2     10.3    10.3    9.8
    2001:   Q1        |         9.3     9.1     9.4     9.7     8.4     7.8     9.5     9.0     9.8     8.8
            Q2        |         8.2     8.7     8.3     8.8     7.4     8.1     8.3     9.2     8.6     7.9
            Q3        |         8.3     9.8     7.9     8.2     6.3     7.6     8.7     8.8     7.8     7.2
            Q4        |         6.9     7.9     6.3     7.0     5.2     6.3     8.7     7.6     6.1     5.2
                      |         (.23)   (.78)   (.38)   (.29)   (.36)   (1.71)  (.42)   (.79)   (.33)   (.35)

    2002:   Q1        |         6.9     7.8     6.7     7.2     5.2     5.5     7.3     7.4     6.8     4.9
                      |         (.12)   (.37)   (.26)   (.22)   (.63)   (1.14)  (.39)   (.45)   (.26)   (.25)

            Q2        |         6.8     7.4     6.4     7.2     5.0     5.9     7.6     7.5     6.5     5.1
                      |         (.14)   (.29)   (.27)   (.21)   (.48)   (1.03)  (.23)   (.34)   (.36)   (.26)

            Q3        |         6.4     7.5     5.8     6.5     4.6     6.0     7.5     7.3     6.5     5.3
                      |         (.43)   (.29)   (.50)   (.68)   (.67)   (1.19)  (.34)   (.68)   (.41)   (1.06)

            Q4        |         5.7     6.9     5.1     5.5     4.6     5.2     6.7     7.6     6.4     4.5
                      |         (.35)   (.45)   (.47)   (1.01)  (.56)   (.62)   (.68)   (.35)   (.47)   (.62)

    2003:   Q1        |         5.3     7.0     5.6     5.7     4.4     5.6     6.7     7.4     6.1     4.5
                      |         (.15)   (.26)   (.31)   (.73)   (.65)   (.63)   (.54)   (.66)   (.35)   (.40)

            Q2        |         6.0     6.7     5.3     6.5     4.6     6.1     7.3     5.7     6.4     5.2
                      |         (.29)   (.17)   (.37)   (.34)   (.71)   (.63)   (.45)   (.71)   (.36)   (.50)

            Q3        |         6.0     6.9     4.7     5.6     4.5     4.8     6.7     5.5     5.6     4.3
                      |         (.15)   (.04)   (.49)   (.39)   (.73)   (.69)   (.27)   (.99)   (.35)   (.26)
            
            Q4        |         6.5     6.5     4.0     5.1     4.6     5.2     6.7     7.5     5.4     4.2
                      |         (.59)   (.22)   (.30)   (.71)   (.54)   (.83)   (.54)   (.58)   (.39)   (.42)

    2004:   Q1        |         5.8 	7.0 	5.2 	5.7 	4.3 	5.9 	6.4 	6.3 	5.7 	3.8
                      |		(.21) 	(.15) 	(.44) 	(.25) 	(.48) 	(.64) 	(.37) 	(.23) 	(.37) 	(.41)

    	    Q2	      |		4.8	6.3	5.2	6.2	4.6	6.4	6.9	6.2	6.4	4.1
		      |		(.19)	(.05)	(.66)	(.32)	(.45)	(.31)	(.57)	(.19)	(.40)	(.24)

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  Notes.  NE is Northeast, LS is Lake States, CB is Cornbelt, NP is Northern Plains, AP is Appalachia, SE is
Southeast, DL is Delta States, SP is Southern Plains, MN is Mountain States, and PA is Pacific. The numbers
in parentheses are standard errors.  They are calculated from 100 replications of a bootstrap procedure
(resampling of banks) in each region.

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