A.12. Characteristics of Bank Loans to Farmers -- Large Farm Lenders, by Risk Rating, November 1-5, 2004
Percent except as noted
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Loan characteristic                                All     Minimal    Low    Moderate  Acceptable  Special  Not rated  Not reported
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Volume of loans (thousands of dollars)          1,066,990    9,062  258,059   455,228     257,265   59,013      1,053        27,310
Number of loans                                    16,922      300    2,011     8,802       3,961    1,011         65           772
Weighted average maturity (months) 1                18.72     4.51    13.05     18.65       26.86     9.44       8.31         20.79
Weighted average repricing interval (months) 2       4.28     2.30     9.22      2.20        3.91      .32        .81          4.85
Weighted average risk rating 3                       3.10     1.00     2.00      3.00        4.00     5.00       n.a.          n.a.

Weighted average interest rate 4                     5.16     5.59     4.92      5.16        5.25     5.76       5.87          5.12
  Standard error 5                                    .26      .53      .40       .25         .32      .76       1.05           .59
  Interquartile range 6
    75th percentile                                  5.96     6.64     5.92      6.18        6.16     5.64       6.43          5.85
    25th percentile                                  4.08     4.07     3.99      3.82        4.33     4.85       4.33          4.32
  Purpose of loan
    Feeder livestock                                 5.45     7.13     5.82      5.19        4.99     5.54       3.93          n.a.
    Other livestock                                  4.58     3.82     4.26      5.57        4.61     6.12       6.61          n.a.
    Other current operating expenses 7               5.34     6.07     4.79      5.37        5.25     6.19       8.55          6.30
    Farm machinery and equipment                     5.33     2.94     5.08      5.05        5.77     5.39       n.a.          5.97
    Farm real estate                                 6.06     n.a.     4.81      6.35        6.23     5.78       n.a.          7.27
    Other 8                                          4.66     4.64     4.97      4.53        4.51     5.19       5.65          4.60

Share of total loan volume
  Features of loan
    Floating rates                                  82.01    42.17    42.94     94.16       97.82    97.63      95.41         78.69
    Under commitment                                86.11    98.19    88.15     81.12       89.36    97.47     100.00         90.45
    Callable                                        29.58    34.78    71.86     21.79        8.47     2.43       6.71         16.41
    Subject to prepayment penalty                    6.24      .10     n.a.      9.42        9.21      .01       n.a.          n.a.
  Purpose of loan
    Feeder livestock                                14.69    12.11    25.76     15.34        7.13     1.25      19.13          n.a.
    Other livestock                                 12.18    10.65    31.81      5.21        8.13     3.56      14.64          n.a.
    Other current operating expenses 7              34.00    53.71    21.07     35.08       43.08    45.67      14.14         21.69
    Farm machinery and equipment                    11.75     1.81      .52     15.01       15.99    22.51       n.a.          4.22
    Farm real estate                                 6.20     n.a.     3.81      5.68       10.43     4.51       n.a.          3.46
    Other 8                                         21.18    21.71    17.02     23.67       15.25    22.50      52.08         70.63
  Type of collateral
    Farm real estate                                 6.55     8.59     3.13      5.34        9.07     1.59       4.59         45.47
    Other                                           87.43    89.68    91.77     85.28       89.36    95.19      90.74         46.33
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   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.

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