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AGRICULTURAL FINANCE
DATABOOK
April 1978

Monthly Series

Emanuel Melichar
Marian Say re

Division of Research and Statistics
Board of Governors of the Federal Reserve System
Washington, D.C. 20551




Not for general distribution. Inquiries should be addressed t o the authors.

AGRICULTURAL FINANCE

APRIL

OATABOOK—MONTHLY S E R I E S

2

1978

SECTION
200

FARM

LENDING OPERATIONS

210

PRODUCTION

220

FEDERAL

230

LIFE

300

100
200

INSURANCE

TABLES

OF NONBANK

INSTITUTIONS

.3

ASSOCIATIONS

10

LAND BANKS

AGRICULTURAL

UPDATED

CREDIT

AND E X P E R I E N C E

FOR

18

COMPANIES

BANKING DATA

AGR I C t i L T H R A I

F f N A N C t p DATABOOK—ANNUAL

SERIES

28

O U T S T A N D I N G FARM D E B T — T O T A L , REAL E S T A T E , AND N O N - R E A L - E S T A T E
FARM L E N D I N G O P E R A T I O N S AND E X P E R I E N C E OF NONBANK I N S T I T U T I O N S

Overview

similar
but are
revised
t i o n of

Pages 28-31 of t h i s i s s u e present recent USDA compilations and e s t i m a t e s of farm debt that update
t a b l e s in the Annual S e r i e s Databook. Data f o r banks and l i f e insurance companies are preliminary
not l i k e l y to d i f f e r much from f i n a l f i g u r e s . Data f o r " i n d i v i d u a l s and others i s l i k e l y to be
l a t e r t h i s year on the b a s i s of information received and a n a l y s e s conducted in the course of preparathe Balance Sheet of the Farming Sector and the Agricultural Finance Outlook.

Page 32 updates Table 201.1 A of the Annual S e r i e s Databook, the summary of r e l a t i v e annual changes
in farm lending operations and e x p e r i e n c e of the Production Credit A s s o c i a t i o n s , Federal Land Banks, and l i f e
insurance companies. For PCA's and FLB's, updates of the d e t a i l e d annual t a b l e s found in Section 200 of the
Annual S e r i e s Databook were presented in the January 1978 i s s u e of the Monthly S e r i e s Databook. The annual
t a b l e s f o r l i f e insurance companies can be updated from data in the monthly t a b l e s in t h i s i s s u e .
In t h i s i s s u e , data through March i n d i c a t e that the seasonal i n c r e a s e in outstanding loans at PCA's
has been r e l a t i v e l y weak. While lending a c t i v i t y was f a i r l y s t r o n g , c o l l e c t i o n s were even s t r o n g e r . Thus
the s e a s o n a l l y - a d j u s t e d s e r i e s f o r loans outstanding d e c l i n e d during the f i r s t quarter.
At Federal Land Banks, the 15 per cent y e a r - o v e r - y e a r i n c r e a s e in outstanding loans as of the end
of March appears to r e f l e c t weakening s i n c e l a s t summer in both new lending and repayments. So f a r t h i s year
the number of t r a n s a c t i o n s is o f f from l a s t y e a r ' s e a r l y pace. Refinancing has continued at high l e v e l s
( r e l a t i v e to o u t s t a n d i n g s ) reached l a s t y e a r , but the rapid growth that marked recent years has abated.




•

•

M

^
•

•

•

•

•

•

•

S

•

AGRICULTURAL

210

FINANCE

PRODUCTION C R E D I T

211

LOANS,

EXCEPT

AS N O T E D )

ACTUAL
SEASONALLY

4
5

ADJUSTED

ACTUAL
1 2 - M O N T H MOVING

TOTAL

7

RENEWALS AND C O L L E C T I O N S

213.1
213.3

SOURCE:

(AGRICULTURAL

LOANS MADE AND NEW LOANS

212.1
212.3

213

ASSOCIATIONS

1978

LOANS O U T S T A N D I N G

211.1
211.2

212

APRIL

DATABOOK—MONTHLY S E R I E S

ACTUAL
1 2 - M O N T H MOVING

"PRODUCTION CREDIT
TECHNICAL S E R V I C E S

8
9

TOTAL

A S S O C I A T I O N S — S E L E C T E D MONTHLY LOAN D A T A , "
D I V I S I O N , FARM C R E D I T A D M I N I S T R A T I O N .

DATA I N T H I S S E C T I O N ARE O B T A I N E D FROM TIMELY MONTHLY R E P O R T S WHICH ARE NOT
R E V I S E D TO R E F L E C T ANY S U B S E Q U E N T CHANGES OR C O R R E C T I O N S .
I F ONLY Y E A R - E N D
DATA ON O U T S T A N D I N G LOAN VOLUME ARE R E Q U I R E D , USE THE S E R I E S I N S E C T I O N 1 0 0
OF THE A G R I C U L T U R A L F I N A N C E DATABOOK—ANNUAL S E R I E S . NOVEMBER 1 9 7 7 .
DATA ON LOANS O U T S T A N D I N G AND LOANS MADE DO NOT
F A R M - R E L A T E D B U S I N E S S L O A N S , OR A Q U A T I C L O A N S .
RENEWALS 0 0 I N C L U D E T H E S E L O A N S ; HOWEVER, T H E S E
ONLY 0 . 8 PER C E N T O F T O T A L O U T S T A N D I N G LOANS AT

I N C L U D E RURAL HOME L O A N S ,
DATA ON C O L L E C T I O N S AND
T Y P E S O F LOANS R E P R E S E N T E D
P C A ' S A S O F DECEMBER 1 9 7 6 .

FOR A B R I E F D I S C U S S I O N OF T H E A N A L Y T I C A L VALUE O F T H E S E D A T A , S E E THE S E C T I O N
E N T I T L E D " L E N D I N G E X P E R I E N C E OF NONBANK I N S T I T U T I O N S " I N " O V E R A L L MEASURES O F
F I N A N C I A L P E R F O R M A N C E , " BY EMANUEL M E L I C H A R , AGRTCULTURAI F I N A N C E R F V I F W .
FEBRUARY 1 9 7 7 , P P . 9 2 - 9 5 .




4
TABLE

211.1

PRODUCTION C R E D I T A S S O C I A T I O N S
LOANS O U T S T A N D I N G
( E N D OF MONTH)
AMOUNT
M I L L I O N S OF
END
OF
MONTH

P E R C E N T A G E CHANGE
FROM P R E V I O U S

DOLLARS

CHANGE FROM P R E V I O U S
MONTH
MONTH

|

YEAR

1
1

YEAR

AVERAGE

BORROWERS
I
1
1
PERCENTAGE!
|
CHANGE
I
1 THOUSANDS
FROM
|
1
PREVIOUS I
|
YEAR
I
1

SIZE

1

PERCENTAGE
CHANGE
FROM
PREVIOUS
YEAR

DOLLARS

1
1
|
1
I

1976-JAN...
—FEB. . .
-MAR. . .
-APR...
-MAY...
-JUN...
-JUL. . •
—AUG•••
-SEP...
—OC T . . .
-NOV...
—DEC.•.

10711.1
10823.2
11117.2
11420.9
11706.7
12005.6
12190.8
12319.4
12321.4
12170.4
11980.8
12196.4

-30.4
112.0
294.0
303.7
285.8
298.9
185.1
128.6
2.0
-151.0
-189.6
215.6

I
|
I
|
|
1
1
|
|
|
|
I

1164.5
1079.6
1106.2
1190.9
1235.2
1302.8
1378.1
1510.7
1584.2
1599.8
1528.7
1454.8

-0.3
1.0
2.7
2.7
2.5
2.6
1.5
1.1
0.0
-1.2
—1 . 6
1.8

I
1
|
I
|
1
t
1
|
|
I
|
j

12.2
11.1
11.0
11.6
11.8
12.2
12.7
14.0
14.8
15.1
14.6
13.5

I
I
|
I
|
I
I
|
|
|
|
1
j

328.1
330.4
334.3
337.7
340.2
342.0
342.9
342.9
341.9
339.6
336.6
335.6

-0.7
—0.2
0.2
0.9
0.9
1.0
1.2
1.4
1.6
1.9
2.1
2.1

I
1
|
1
|
1
|
I
I
|
I
|

32646.
32761.
33250.
33815.
34415.
35106.
35552.
35926.
36036.
35837.
35591.
36338.

13.0
11.3
10.8
10.6
10.8
11.0
11.4
12.4
13.0
12.9
12.3
11.2

I
j
|
1
I
|
1
|
1
I
1
1

1977-JAN...
—FEB.. •
-MAR...
-MAY...
—JUN.*.
-JUL...
-AUG...
-SEP...
-OCT...
-NOV...
—DEC.*.

12140.2
12272.9
12583.0
12929.3
13332.9
13748.9
14038.0
14132.5
14089.8
13788.7
13471.3
13454.3

-56.1
132.7
310.1
346.3
403.6
416.0
289.1
94.5
-42.7
-301.1
-317.4
-17.0

1
|
I
I
|
|
|
I
I
I
1
|

1429.1
1449.7
1465.8
1508.5
1626.2
1743.3
1847.2
1813.1
1768.4
1618.4
1490.5
1257.9

-0.5
1.1
2.5
2.8
3.1
3.1
2.1
0.7
-0.3
-2.1
-2.3
-0.1

1
1
I
1
1
1
1
1
|
I
1
I
|

13.3
13.4
13.2
13.2
13.9
14.5
15.2
14.7
14.4
13.3
12.4
10.3

|
|
|
I
|
I
|
|
|
|
I
I
j

335.3
337.4
341.7
345.5
348.4
350.4
351.3
351.2
350.6
347.9
344.9
342.8

2.2
2.1
2.2
2.3
2.4
2.5
2.4
2.4
2.5
2.4
2.4
2.1

1
1
|
|
|
|
|
|
1
|
|
I

36207.
36373.
36828.
37424.
38266.
39233.
39961.
40237.
40189.
39637.
39064.
39253.

10.9
11.0
10.8
10.7
11.2
11.8
12.4
12.0
11.5
10.6
9.8
8.0

1
t
I
|
1
1
I
1
I
|
|
1

1978-JAN...
-FEB...
—MAR•••

13233.3
13273.6
13426.8

-220.9
40.3
153.2

|
|
|

1093.1
1000.7
843.8

-1.6
0.3
1.2

I
I
I

9.0
8.2
6.7

|
|
|

341.2
341.7
343.7

1.8
1.3
0.6

1
|
I

38788.
38850.
39067.

7.1
6.8
6.1

1
|
1

—APR...




•

•

•

•

t

•

%

V

«

l

TABLE

211.2
PRODUCTION C R E D I T A S S O C I A T I O N S
LOANS O U T S T A N D I N G
SEASONALLY A D J U S T E D DATA
(END OF MONTH)
AMOUNT
MILLIONS
END
OF
MONTH

1
1
1
1976-JAN...I
-FEB...I
-MAR...!
—APR . . . j
—MAY... I
-JUN...I
-JUL . . . I
-AUG... I
-SEP...I
-OCT...I
-NOV...|
-DEC...I
j
1977-JAN...|
-FEB...I
—MAR...|
-APR . . . |
—MAY...|
-JUN... 1
-JUL . . . I
-AUG...1
-SEP...I
-OCT...I
-NOV . . . |
-DEC . . . |
j
1978—JAN...|
-FEB . . . |
-MAR...I

OF

BORROWERS

DOLLARS

PERCENTAGE CHANGE
FROM P R E V I O U S

FROM P R E V I O U S |
1
MONTH
1
YEAR
|

CHANGE

MONTH

11056.6
11134.6
11262.6
11399.1
11508.0
11635.6
11789.1
11984.9
12118.4
12259.0
12351.4
12428.6

111.1
78.0
128.0
136.4
108.9
127.7
153.5
195.8
133.5
140.7
92.4
77.1

|
|
I
|
|
I
|
|
|
|
|
|
i

1209.0
1129.4
1145.7
1212.2
1230.7
1278.2
1322.5
1451.3
1543.6
1601.5
1568.8
1483.0

|
1
|
|
|
|
|
|
|
|
|
|

1.0
0.7
1.1
1.2
1.0
1.1
1.3
1.7
1.1
1.2
0.8
0.6

12530.9
12633.6
12758.5
12917.3
13113.6
13331.6
13570.7
13737.5
13855.7
13889.9
13892.2
13716.7

102.4
102.7
124.9
158.8
196.4
217.9
239.2
166.8
118.2
34.2
2.2
-175.5

|
|
|
|
|
|
|
|
|
I
|
|
j

1474.3
1499.0
1495.9
1518.2
1605.7
1696.0
1781.6
1752.6
1737.4
1630.9
1540.7
1288.1

|
1
1
|
|
|
|
|
|
|
I
|

13658.7
13667.7
13619.9

-58.0
9.0
-47.8

|
|
|

1127.8
1034.2
861.4

|
|
|




THOUSANDS

|
1

YEAR

0.8
0.8
1.0
1.2
1.5
1.7
1.8
1.2
0.9
0.2
0.0
-1.3

|
|
I
|
|
1
|
|
1
|
|
|
1
|
|
|
|
|
|
|
|
|
|
|
|

13.3
13.5
13.3
13.3
14.0
14.6
15.1
14.6
14.3
13.3
12.5
10.4

-0.4
0.1
-0.3

|
|
|

9.0
8.2
6.8

12.3
11.3
11.3
11.9
12.0
12.3
12.6
13.8
14.6
15.0
14.5
13.5

|
1
|
1
|
1
|
#
|
|
|
|
|
|
1
|
|
|
|
|
|
|
|
|
|
I
|
1
I
|
|

334.8
334.8
335.1
335.6
336.3
336.9
337.7
338.5
339.1
340.3
341.5
341.4
342.1
342.0
342.6
343.4
344.6
345.3
346.1
346.8
347.9
348.6
349.8
348.7
348.0
346.3
344.6

AVERAGE

PERCENTAGE
CHANGE
FROM
PREVIOUS
YEAR
-0.7

-0.1

0.3

1.0
1.0
1.1
1.3
1.4

1.6
1.9

2.0
2.1
2.2

2.1
2.2
2.3
2.5
2.5
2.5
2.4

2.6
2.4
2.4

2.1
1.7
1.3

0.6

DOLLARS

33023.
33256.
33605.
33965.
34218.
34540.
34911.
35401.
35735.
36019.
36172.
36401.
36634.
36945.
37246.
37620.
38057.
38606.
39215.
39608.
39832.
39840.
39712.
39331.
39250.
39472.
39522.

SIZE

PERCENTAGE
CHANGE
FROM
PREVIOUS
YEAR
13.1
11.4

11.0

10.8
10.9

11.1
11.2
12.2
12.8
12.9
12.3

11.2
10.9

11.1
10.8

10.8

11,2

11.8

12.3
11.9
11.5

10.6

9.8

8.0

7.1

6.8

6.1

TABLE

212.1

PRODUCTION CREDIT A S S O C I A T I O N S
LOANS MADE AND NEW LOANS
LOANS
1
1 MILLIONS
OF
1
DOLLARS
1
1

1976—JAN* . . 1
-FEB...I
—MAR . . . 1
—APR . . . 1
-MAY... |
-JUN... I
—JUL . . . 1
-AUG...!
-SEP...I
-OCT . . . 1
-NOV... |
—DEC. . • j
1
1977-JAN... I
—FEB.. . |
-MAR... I
—APR . . . |
-MAY... I
-JUN... 1
—JUL...|
-AUG... 1
-SEP...I
-OCT...I
-NOV . . . 1
-DEC...I
1
1978-JAN... 1
-FEB...I
—MAR...|
*

1794.8
1594.0
1932.3
1714.3
1412.4
1438.6
1177.3
1178.1
1168.5
1210.5
1487.8
2146.9
1973.7
1830.1
2196.2
1874.2
1652.2
1614.8
1292.0
1281.2
1284.4
1325.8
1545.4
2179.1
2054.0
1911.6
2414.1

1
1
I
I
1
I
1
1
1
1
1
I
1
1
I
1
I
1
1
1
1
1
I
I
I
I
I
I
1
I
1
I

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH
-11.2
-11.2
21.2
-11.3
-17.6
1.9
-18.2
0.1
-0.8
3.6
22.9
44.3
-8.1
-7.3
20.0
-14.7
-11.8
-2.3
-20.0
-0.8
0.2
3.2
16.6
41.0

O U T S T A N D I N G LOANS AT END OF

"NEW

LOANS"

ARE




-5.7
-6.9
26.3

1
|
I
1
|
I
|
I
1
1
|
|
I
1
I
1
I
|
I
1
|
1
I
1
I
I
1
1
|
I

NEW LOANS

MADE

YEAR

AS

PERCENTAGE

OF

COLLECTIONS

LOANS O U T - I
STANDING*!

MILLIONS
OF
DOLLARS

I
|
1

AS

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

10.2
10.9
39.5
23.3
16.4
21.9
6.4
21.8
10.6
-0.8
25.4
3.4

9.6
8.3
10.8
10.2
8.9
9.6
7.6
7.4
7.3
7.3
8.4
11.3

I
I
1
1
I
1
1
!
1
1
|
I

97.0
114.4
134.3
137 . 1
139.8
136.3
126.1
116.4
100.4
85.7
84.5
119.6

|
I
|
|
1
1
|
|
|
|
1
|
j

8.9
13.5
12.0
6.3
17.8
8.6
9.7
9.3
7.4
10.5
2.7
-1.0

9.2
8.3
10.7
9.6
9.3
9.2
7.3
7.0
6.8
7.1
7.6
10.0

1
1
|
|
I
1
1
I
1
I
I
1

95.5
115.1
130.4
140.0
150.3
150.8
140.6
110.7
94.0
78*0
76.7
9?.l

|
|
|

4.8
3.3
10.5

8.7
7.9
10.9

I
1
|

83.9
103.9
114.4

13.6
12.8
32.6
18.3
12.3
19.1
3.6
20.1
9.9
-2.0
24.5
6.2

16.7
14.9
17.9
15.4
12.4
12.3
9.8
9.7
9.5
9.8
12.2
17.9

|
1
|
|
|
|
|
|
|
|
1
|
j

169.0
205.4
221.8
206.3
193.3
173.6
162.8
153.0
131.0
114.8
122.7
189.0

1030.5
887.3
1170.0
1139.1
1021.3
1129.6
911.9
896.1
895.6
904.2
1025.0
1358.7

|
|
1
1
I
I
1
|
I
I
I
|

-21.6
-13.9
31.9
-2.6

|
|
1
|

10.6
-19.3
-1.7
-0.1
1.0
13.4
32.6

|
I
|
|
|
1
1
j

10.0
14.8
13.7
9.3
17.0
12.3
9.7
8.8
9.9
9.5
3.9
1.5

16.2
15.1
17.9
14.9
12.8
12.1
9.4
9.1
9.1
9.4
11.2
16.2

|
I
|
|
|
1
|
I
1
I
I
|

167.9
209.0
218.7
216.7
206.3
198.5
181.5
144.9
125.5
103.5
112.6
160.6

1122.1
1007.5
1309.9
1211.3
1203.5
1227.3
1000.6
979.2
961.8
998.9
1052.6
1345.0

I
1
|
|
I
1
I
1
I
|
|
|

-17.4
-10.2
30.0
-7.5
-0.6
2.0
-18.5
-2.1
-1.8
3.9
5.4
27.8

4.1
4.5
9.9

15.3
14.4
18.2

|
|
1

146.5
190.9
190.8

1176.5
1040.3
1447.3

I
|
1

-12.5
-11.6
39.1

-10.3

COLLECTIONS

LOANS O U T - I
STANDING*!

YEAR

|

P E R C E N T A G E OF

|

P R E C E D I N G MONTH

COMPUTED A S L O A N S MADE L E S S R E N E W A L S .

RENEWALS

INCLUDE

SOME NONAGRICULTURAL LOANS

(SEE

NOTE ON PAGE 3 ) .

TABLE

212.3

PRODUCTION CREDIT A S S O C I A T I O N S
LOANS MADE AND NEW LOANS
TWELVE-MONTH MOVING TOTAL
NEW LOANS

LOANS MADE
MILLIONS
OF
DOLLARS

1
1
I

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

|

YEAR

I

AS P E R C E N T A G E

I LOANS OUT—I
| STANDING*!

OF

COLLECTIONS

MILLIONS
OF
DOLLARS

1
|
1

AS

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

1

PERCENTAGE

LOANS O U T - I
STANDING*!

YEAR

OF

COLLECTIONS

1976—JAN...|
—FEB•••1
—MAR• . . I
—APR. . . 1
-MAY..,|
-JUN...|
—JUL . . * |
—AUG•..1
-SEP...I
-OCT.e.|
-NOV...I
-DEC . . . I

I
|
|
I
|
|
|
|
1
I
1
|

1.3
1.1
2.9
1.6
0.9
1.3
0.2
1.1
0.6
-0.1
1.6
0.7

|
I
|
|
|
|
|
1
|
1
I
I

12.2
12.1
14.4
15.0
15.2
14.8
14.5
15.8
15.4
14.5
15.9
14.1

I
!
i
1
1
I
1
I
1
1
!
1

155.8
156.1
159.3
160.4
160.4
161.0
159.7
159.9
159.0
156.9
157.7
157.0

1
1
1
|
|
I
|
1
|
I
1
1

167.6
166.5
166.3
166.8
166.8
166.7
167.6
169.0
169.9
170.0
168.3
167.7

10843.6
10930.9
11261.9
11477.1
11621.1
11824.0
11878.8
12039.0
12124.5
12117.2
12324.7
12369.3

1
1
I
I
I
|
I
I
1
!
I
1

0.9
0.8
3.0
1.9
1.3
1.7
0.5
1.3
0.7
-0.1
1.7
0.4

1
I
1
|
I
|
|
|
|
I
|
|
j

8.7
9.1
12.6
14.4
15.6
15.5
15.4
17.2
16.9
15.8
17.1
15.1

104.2
104.1
106.4
107.4
107.8
108.6
108.1
106.4
10 7 . 9
106.6
107.2
106.4

1
1
1
|
|
|
1
1
1
|
1
|
|

112.1
111.1
111.0
111.7
112.1
112.5
113.4
114.6
115.3
115.5
114.4
113.6

1977-JAN...|
—FEB.•.I
—MAR...|
—APR...1
-MAY...|
-JUN...I
-JUL...1
—AUG...I
-SEP...I
-OCT...!
-NOV...#
-DEC...I

18434.4
18670.5
18934.5
19094.4
19334.2
19510.4
19625.1
19728.3
19844.1
19959.4
20017.1
20049.3

|
1
1
t
|
|
1
I
1
|
1
1

1.0
1.3
1.4
0.8
1.3
0.9
0.6
0.5
0.6
0.6
0.3
0.2

1
i
1
!
1
I
1
!
1
1
I
I
j

156.9
157.3
158.0
157.7
158.0
157.7
156.8
155.7
154.8
153.9
152.8
151.6

1
1
1
|
1
1
|
!
|
!
1
1
|

167.6
168.2
168.5
169.5
170.5
172.3
173.5
172.7
171.7
169.4
167.6
164.8

12460.9
12581.0
12720.9
12793.0
12975.2
13072.9
13161.6
13244.7
13310.9
13405.7
13433.3
13419.6

1
I
!
1
!
1
|
|
I
1
1
1

0.7
1.0
1.1
0.6
1.4
0.8
0.7
0.6
0.5
0.7
0.2
-0.1

1
1
|
|
1
1
1
|
|
|
|
|
|

14.9
15.1
13.0
11.5
11.7
10.6
10.8
10.0
9.8
10.6
9.0
8.5

106.1
106.0
106.1
105.6
106.1
105.7
105.2
104.5
103.8
103.4
102.5
101.5

|
|
|
|
|
1
|
|
|
1
|
I
|

113.3
113.3
113.2
113.5
114.4
115.5
116.4
115.9
115.2
113.8
112.5
110.3

20129.6
20211.1
20428.9

|
1
|

0.4
0.4
1.1

I
1
|
I
1
|
|
1
|
|
|
|
1
|
|
|

13.7
13.9
12.2
11.4
11.8
11.4
11.8
11.1
11.1
11.9
10.4
9.8

1978-JAN...|
—FEB.*.1
—MAR...|
*

16211.7
16393.2
16868.2
17133.2
17288.0
17519.0
17560.0
17757.2
17862.2
17837.4
18129.8
18255.5

9.2
8.3
7.9

1
1
1

151.0
150.6
151.3

|
|
|

162.5
161.5
159.9

13474.0
13506.8
13644.2

|
!
I

0.4
0.2
1.0

I
|
1

8.1
7.4
7.3

101.1
100.6
101.0

1
I
I

108.7
107.9
106.8

AVERAGE O U T S T A N D I N G LOANS D U R I N G THE P R E C E D I N G

-NEW

L O A N S " ARE




COMPUTED A S LOANS MADE L E S S

1 2 MONTHS

RENEWALS.

( A V E R A G E OF

RENEWALS

INCLUDE

END-OF-MONTH

DATA).

SOME N O N A G R I C U L T U R A L

LOANS

(SEE

NOTE ON PAGE 3 ) .

TABLE

213.1

PRODUCTION CREDIT A S S O C I A T I O N S
RENEWALS AND C O L L E C T I O N S
COLLECTIONS

RENEWALS

MONTH
1976—JAN..
-FEB.,
-MAR..
-APR..
-MAY..
-JUN .,
—JU L . <
-AUG.,
-SEP.,
-OCT.,
-NOV.,
-DEC.,

*

851.6
822.7
886.4
662.9
448.7
387.6
291.4
302.1
322.6
326.9
492.8
834.2

1978—JAN.
-FEB.
-MAR.

8.1

764.3
706.7
762.2
575.2
391.1
309.0
265.4

1977—JAN.,
-FEB.
-MAR.
-APR.
-MAY .
-JUN.
-JUL.
—AUG.
-SEP.
—OC T .
-NOV.
-DEC.

877.5
871.4
966.7

RENEWALS

-7.5
7.9
-24.5
-32.0

-21.0
-14.1

6.2

282.0

-3.2

273.0
306.4
462.8
788.3

O U T S T A N D I N G LOANS

AT

12.2

51.1
70.3

8.0
-

-3.4
7.7
25.2
32.3
13.6
24.8
3.7

6.8

I

YEAR

7.1

10.0

2.6

2.8

-4.9
15.1
7.7
-5.4
22.5
11.5
11.4
16.4
16.3
15.2
14.7
25.4
9.8
7.1

18.2
6.7
6.5
5.8

5.2
-0.7
10.9
END OF

PERCENTAGE OF

LOANS O U T STANDING*

18.5
15.4
23.3
9.5

1.3
50.8
69.3

AND C O L L E C T I O N S




AS

P E R C E N T A G E CHANGE
FROM P R E V I O U S

MILLIONS
OF
DOLLARS

3.0
5.9
9.1

6.6

7.0
5.2
3.4

2.2
2.3

2.2
2.5
3.8

6.6
7.0

6.8

7.2
5.3
3.5
2.9

2.1
2.2
2.3
2.3
3.6

6.2
6.5

6.6
7.3

COLLECT. &
RENEWALS

LOANS
MADE

MILLIONS
OF
DOLLARS

MONTH

1062.2

SOME N O N A G R I C U L T U R A L

LOANS

4.3
-27.0
12.3
-4.6

42.6
44.3
39.4
33.6
27.7
21.5
22.5
23.9
23.4
25.3
31.1
36.7

41.8
47.7
46.7
40.9
34.9
27.2

43.1
45.0
40.4
35.4
27.2
24.0

1175.3
875.5
1004.4
865.0

23.6
25.1
24.7
31.9
38.3

42.0
48.4
46.9
43.4
35.9
32.3
29.0
25.5
24.0
20.3
26.4
38.1

813.7
711.8
884.4
1023.3
1281.0
1372.0
1356.7

-12.5
24.3
15.7
25.2
7.1

42.7
45.6
40.0

38.5
46.5
43.3

1402.0
1001.5
1265.1

-28.6

22.6

775.9
871.3
831.2
730.7
828.5
723.4
769.8
892.2
1054.8
1212.4
1135.8

26.8
26.8
23.4
22.5
27.6
41.0

800.8

P R E C E D I N G MONTH.

INCLUDE

P E R C E N T A G E CHANGE
FROM P R E V I O U S

(SEE

NOTE ON PAGE

3).

I

YEAR
18.9

28.6

-12.1

52.1
18.7
15.0

13.4
-12.7
6.4
15.9

-4.4
4.2
0.9

18.2

20.8
-2.0

14.9
-6.3

29.6
11.5

3.5
-25.5
14.7
-13.9
-7.4

10.6
12.8

1.6

-1.1
3.3

26.3

15.3
4.1
9.6

-1.8
-1.6
14.9
14.7
21.4
13.2
19.5
19.3
14.4

26.0

AS P E R CENTAGE OF
LOANS O U T STANDING*

TABLE

213.3

PRODUCTION C R E D I T A S S O C I A T I O N S
RENEWALS AND C O L L E C T I O N S
TWELVE-MONTH MOVING TOTAL
COLLECTIONS

RENEWALS
MILLIONS
OF
DOLLARS

PERCENTAGE CHANGE
FROM P R E V I O U S
MONTH

1976-JAN...
-FEB...
-MAR. . *
—APR. . .
-MAY...
-JUN...
—JUL.•.
-AUG...
-SEP...
-OCT...
-NOV...
-DEC...

5368.1
5462.3
5606.3
5656.1
5666.9
5695.0
5681.2
5718.3
5737.7
5720.3
5805.1
5886.3

1977-JAN..•
-FEB...
—MAR...
-MAY...
-JUN...
—JU L . . .
-AUG.•.
—SEP..•
-OCT...
-NOV...
-DEC...

5973.6
6089.5
6213.6
6301.4
6358.9
6437.5
6463.5
6483.6
6533.2
6553.8
6583.8
6629.7

1978-JAN...
-FEB...
—MAR...

6655.6
6704.3
6784.7

—APR * . .

I

YEAR

0.9

20.1
18.6
18.2
16.2

0.5

14.4
13.5

2.3

1.8

2.6

0.2

-0.2

12.6

0.7
0.3
-0.3
1.5
1.4

12.7

1.5
1.9

11.3
11.5

1.4
0.9

11.4

2.0
1.2

0.4
0.3

0.8
0.3
0.5
0.7
0.4
0.7

1.2

12.6
11.8
13.4

12.1
10.8

12.2

13.0
13.8
13.4
13.9
14.6
13.4

12.6
11.4

10.1

9.2

I

I LOANS O U T | STANDING*




COLLECT. &
RENEWALS

LOANS
MADE

MILLIONS
OF
DOLLARS

I
I
1

PERCENTAGE CHANGE
FROM P R E V I O U S
MONTH

YEAR

|

AS P E R CENTAGE OF
LOANS O U T STANDING*

|
I
I
I
I
I
1
I
I
1
I
I

51.6
52.0
52.9
53.0
52.6
52.3
51.7
51.5
51.1
50.3
50.5
50.6

33.1
33.3
33.2
33.0
32.8
32.5
32.4
32.2
32.1
32.1
32.0
32.2

35.7
35.7
35.6
35.5
35.3
35.1
35.2
35.2
35.3
35.3
35.0
35.1

9670.4
9843.1
10141.5
10272.2
10367.2
10509.8
10476.7
10507.8
10516.1
10494.3
10771.0
10888.2

|
I
|
|
1
1
|
|
1
1
I
|

1.8
1.8
3.0
1.3
0.9
1.4
-0.3
0.3
0.1
-0.2
2.6
1.1

|
|
I
|
|
|
1
I
I
|
1
1
|

18.4
20.4
24.6
24.6
24.1
22.7
20.2
19.2
16.1
14.0
15.8
14.6

93.0
93.7
95.8
96.2
96.2
96.6
95.3
94.6
93.6
92.3
93.7
93.7

1
I
I
I
I
I
I
I
I
I
I
I

50.9
51.3
51.8
52.0
52.0
52.0
51.6
51.2
51.0
50.5
50.2
50.1

32.4
32.6
32.8
33.0
32.9
33.0
32.9
32.9
32.9
32.8
32.9
33.1

35.2
35.4
35.6
35.9
35.9
36.2
36.4
36.2
36.1
35.7
35.5
35.3

11001.2
11100.8
11233.9
11267.7
11337.8
11323.1
11311.5
11426.1
11557.3
11783.4
11942.9
12163.9

|
|
I
|
|
1
|
1
1
I
|
1

1.0
0.9
1.2
0.3
0.6
-0.1
-0.1
1.0
1.1
2.0
1.4
1.8

|
1
|
I
|
1
|
|
1
I
|
|
|

13.8
12.8
10.8
9.7
9.4
7.7
8.0
8.7
9.9
12.3
10.9
11.7

93.7
93.6
93.7
93.1
92.7
91.5
90.4
90.2
90.1
90.9
91.1
92.0

1
I
|

49.9
49.9
50.2

33.1
33.2
33.2

34.9
34.9
34.7

12390.6
12516.7
12777.4

1
t
1

1.9
1.0
2.1

#
|
I

12.6
12.8
13.7

92.9
93.2
94.6

• A V E R A G E O U T S T A N D I N G LOANS D U R I N G THE P R E C E D I N G
RENEWALS AND C O L L E C T I O N S

AS PERCENTAGE OF

12 MONTHS

I N C L U D E SOME NONAGRICULTURAL LOANS

(AVERAGE OF
(SEE

END-OF-MONTH D A T A ) ,

NOTE ON PAGE 3 ) .

10
AGRICULTURAL

FINANCE

220

LAND

FEDERAL

221

LOANS)

1 1

ACTUAL
12-MONTH

1 2

MOVING

1 3

TOTAL

LOANED

ACTUAL
12-MONTH

REFINANCING

224.1
224.3

SOURCE!

1978

ACTUAL

NEW MONEY

223.1
223.3

224

(AGRICULTURAL

APRIL

LOANS C L O S E D

222.1
222.3

223

BANKS

SERIES

LOANS O U T S T A N D I N G

221.1

222

DAT A B O O K — - M O N T H L Y

ACTUAL
12-MONTH

MOVING

AND

TOTAL

REPAYMENTS

MOVING

TOTAL.

" F E D E R A L LAND B A N K S — S U M M A R Y
TECHNICAL SERVICES D I V I S I O N ,

OF SELECTED
FARM C R E D I T

MONTHLY LOAN D A T A , "
ADMINISTRATION.

DATA I N T H I S S E C T I O N A R E O B T A I N E D FROM T I M E L Y MONTHLY R E P O R T S W H I C H A R E NOT
R E V I S E D T O R E F L E C T ANY S U B S E Q U E N T C H A N G E S OR C O R R E C T I O N S .
I F ONLY Y E A R - E N D
DATA ON O U T S T A N D I N G L O A N VOLUME A R E R E Q U I R E D , U S E T H E S E R I E S I N S E C T I O N 1 0 0
O F THE A C R I f - l l L T U R A I F I N A N C E DAT A B O O K — A N N U A L S E R I E S . N O V E M B E R 1 9 7 7 .




TABLE

221.1
FEDERAL LAND BANKS
LOANS O U T S T A N D I N G
( E N D OF MONTH)
AMOUNT
MILLIONS
OUTSTANDING

OF

NUMBER

DOLLARS

I
1
CHANGE FROM P R E V I O U S 1
1
MONTH
I
YEAR
|

P E RCE N T A G E CHANGE
FROM P R E V I O U S
MONTH

|
1

THOUSANDS

YEAR

|
i

PERCENTAGE!
CHANGE
I
FROM L A S T |
YEAR
|
1

AVERAGE

DOLLARS

SIZE

I PERCENTAGE
1
CHANGE
1 FROM L A S !
1
YEAR

1976-JAN...I
—FEB•••I
-MAR...I
-APR. . . |
-MAY...I
-JUN...I
—JUL. . . I
—AUG** * |
-SEP.,.1
-OCT...;
-NOV...|
-DEC...1

16189.9
16369.6
16699.9
16946.2
17159.6
17403.2
17622.7
17806.2
17982.2
18147.7
18320.3
18524.2

176.1
179.7
330.3
246.4
213.3
243.6
219.5
183.5
176.0
165.5
172.6
203.9

|
|
1
1
I
|
|
|
|
I
|
|
j

2533.7
2489.9
2520.7
2505.2
2466.7
2464.9
2477.9
2473.6
2464.3
2436.0
2483.1
2510.4

|
|
I
|
|
|
|
I
1
1
I
|
j

1.1
1.1
2.0
1.5
1.3
1.4
1.3
1.0
1.0
0.9
1.0
1.1

I
I
1
|
I
|
|
|
I
|
|
1
j

18.6
17.9
17.8
17.3
16.8
16.5
16.4
16.1
15.9
15.5
15.7
15.7

443.2
443.7
445.1
446.0
447.0
448.2
449.0
449.9
450.4
450.7
450.6
450.8

3.1
2.8
2.7
2.5
2.3
2.2
2.1
2.0
1.9
1.9
1.8
1.8

|
|
|
I
|
|
|
I
|
|
|
|

36533.
36895.
37522.
37998.
38389.
38832.
39246.
39581.
39924.
40267.
40662.
41088.

1
1
1
1
1
1
1
1
1
1
1
1

15.0
14.7
14.7
14.5
14.2
14.0
14.0
13.8
13.7
13.4
13.6
13.6

1977—JAN...|
—FEB...|
— AR...|
M
—APR..*j
—HAY... I
-JUN...I
—JUL...|
—AUG...I
-SEP...j
-OCT... I
-NOV... 1
—DEC...I

18692.7
18921.9
19330.8
19625.0
19916.8
20190.2
20440.8
20658.0
20873.7
21057.0
21258.2
21464.9

168.5
229.2
409.0
294.2
291.8
273.4
250.6
217.2
215.7
183.3
201.2
206.6

|
|
1
I
|
1
|
1
I
1
I
|
j

2502.8
2552.3
2631.0
2678.8
2757.3
2787.0
2818.1
2851.8
2891.5
2909.3
2938.0
2940.7

|
|
I
1
|
|
|
|
1
1
|
|
j

0.9
1.2
2.2
1.5
1.5
1.4
1.2
1.1
1.0
0.9
1.0
1.0

|
|
I
|
|
|
I
I
i
I
|
|
j

15.5
15.6
15.8
15.8
16.1
16.0
16.0
16.0
16.1
16.0
16.0
15.9

450.9
451.5
452.9
453.8
454.8
456.0
457.0
457.8
458.6
459.1
459.3
459.5

1.7
1.8
1.8
1.8
1.7
1.8
1.8
1.8
1.8
1.9
1.9
1.9

|
|
I
|
|
|
|
|
I
|
|
|

41457.
41909.
42684.
43243.
43792.
44273.
44732.
45124.
45519.
45868.
46289.
46711.

1
1
1
1
1
1
1
1
1
1
1
1

13.5
13.6
13.8
13.8
14.1
14.0
14.0
14.0
14.0
13.9
13.8
13.7

1978—JAN...|
-FEB.••1
-MAR...I

21672.2
21895.7
22234.1

207.3
223.5
338.4

|
|
|

2979.5
2973.8
2903.3

|
|
|

1.0
1.0
1.5

I
I
I

15.9
15.7
15.0

459.8
460.4
461.3

2.0
2.0
1.9

|
|
|

47136.
47559.
48193.

1
1
1

13.7
13.5
12.9




TABLE

222.1
F E D E R A L LAND BAI
LOANS CLOSED

MILLIONS
OF
DOLLARS

I
I
I

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

|

THOUSANDS

YEAR

13.8
14.3
8.0
13.0
4.6
7.7
18.3
2.0
7.3
5.7
11.4
15.6

|
1
I
I
|
|
|
1
1
1
|
I

2.5
2.1
3.2
2.6
2.1
2.4
2.1
1.8
1.8
1.7
1.9
2.4

|
|
I
|
1
|
1
|
|
|
1
I

263.8
337.4
478.0
432.2
449.2
502.8
466.1
442.0
407.4
381.7
330.2
309.2

4930.
4719.
6801.
5627.
5806.
5868.
4784.
4808.
4457.
4361.
4846.
5003.

2.4
5.6
6.6
4.6
19.0
13.4
7.3
10.1
7.0
6 .4
8.5
-0.9

94058.
91013.
99833.
92640.
89273.
86233.
102888.
83792.
85203.
82240.
86442.
89729.

15.3
17.2
20.7
14.1
19.8
10.2
24.9
14.1
9.8
7.5
10.1
3.5

|
|
|
|
|
|
|
|
I
|
|
|
j

2.5
2.3
3.6
2.7
2.6
2.5
2.4
2.0
1.8
1.7
2.0
2.1

|
I
|
|
|
|
|
1
I
1
I
1
i

223.4
367.1
475.2
475.5
457.7
403.8
374.2
435.2
516.3
389.3
340.3
301.0

4919.
4495.
6375.

-4.7
—6.*

102187.
96334.
99207.

|
1
1
I
I
1
I
I
I
1
I
|
1
1
1
|
|

8.6
5.8
-0.6

I
I
|

2.3
2.0
2.9

I
I
|

248.9
360.2
383.2

I
|
|
|
|
1
»
|
1
|
|
1

-1.3
-0.1
20.1
10.0
-4.1
8.7
10.9
11.2
4.1
-1.9
3.7
. .7

4816.
4467.
6377.
5377.
48,9.
5175.
4457.
4366 r
_
4167.
4098.
4465.
5047.

1977-JAN...I
—FE B . . . I
—MAR...I
-APR...*
—MAY...1
-JUN...I
—JUL.. . 1
—AUG...1
-SEP...I
—OCT...I
—NOV... 1
—DEC...1

463.7
429.5
679.0
521.3
518.3
506.0
492.2
402.9
379.8
358.6
418.9
448.9

|
1
1
I
|
I
I
|
I
I
|
|

6.0
-7.4
56.1
-23.2
—0.6
-2.4
-2.7
-18.2
-5.7
-5.6
16.8
7.2

|
|
1
I
1
|
|
|
I
I
|
|
j

18.^
23.b
28.7
19.4
42.5
24.9
34.1
25.6
17.5
14.4
19.5
2.6

1978-JAN...I
—FEB...1
-MAR...|

502.7
433.0
632.4

I
|
|

12.0
-13.9
46.1

I

8.4
0.8
-6.9

*

O U T S T A N D I N G LOANS AT




END OF

|
|

PRECEDING

MONTH.

REPAYMENTS

|
|
!
\
1
I
|
|
I
|
1
1

4.8
-11.7
52.1
-17.3
-16.7
11.4
-9.4
-12.'
0.8
-3.0
11.8
24.8

-JUN...I
-JUL...1
-AUG...I
—SEP...1
-OCT...I
-NOV...I
—DEC...I

LOANS
OUTSTANDING*

PERCENTAGE
CHANGE
FROM LAST
YEAR

PERCENTAGE
CHANGE
FROM L A S !
YEAR

P E R C E N T A G E OF

81586.
77645.
82736.
81166.
74546.
78265.
82357.
73457.
77572.
76534.
78511.
86699.

|
|
|
|
\
|
|
|
|
|
|
|

-MAY...I

AS

SIZE

-13.3
—12.6
11.2
-2.6
-8.3
0.9
—6.2
9.0
-3.0
-7.1
20.0
1.0

392.9
346.8
527.6
436.4
363.7
405.0
367.1
320.7
323.2
313.6
350.6
437.6

1976-JAN...I
—FEB•.•|
—MAR••.1
—APR•••|

AVERAGE

NUMBER

AMOUNT

TABLE

222.3
FEDERAL LAND BANKS
LOANS C L O S E D
TWELVE-MONTH MOVING TOTAL
AMOUNT
MILLIONS
OF
DOLLARS

|
|
I
1

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

1976-JAN...I
-FEB•••1
—MA R . . e |
—APR•••|
—MAY•••|
-JUN...I
-JUL . . . 1
—AUG... I
-SEP...I
-OCT...I
-NOV.••|
-DEC••• 1

4214.4
4214.2
4302.4
4342.1
4326.7
4359.2
4395.3
4427.6
4440.2
4434.2
4522.5
4585.3

|
1
|
|
|
|
I
|
|
1
|
|
|

-0.1
-0.0
2.1
0.9
-0.4
0.8
0.8
0.7
0.3
-0.1
2.0
1.4

1977-JAN.••|
-FEB... I
-MAR...|
-APR . . . I
-MAY . . . I
-JUN . . . I
-JUL . . . I
-AUG . . . 1
-SEP . . . I
-OCT...I
—NOV . . . 1
-DEC . . . I

4656.1
4738.7
4890.1
4975.0
5129.6
5230.6
5355.7
5437.9
5494.4
5539.4
5607.7
5619.1

|
I
1
|
|
|
1
|
|
|
|
1
|

1.5
1.8
3.2
1.7
3.1
2.0
2.4
1.5
1.0
0.8
1.2
0.2

1978—JAN...|
—FEB...I
-MA R . . . I
*

5658.0
5661.6
5615.0

|
|
1

0.7
0.1
-0.8

AVERAGE O U T S T A N D I N G LOANS D U R I N G




NUMBER

|

THOUSANDS

YEAR

|

PERCENTAGE!
CHANGE
|
FROM L A S T !
YEAR
|

AVERAGE

DOLLARS

SIZE

|

AS

PERCENTAGE OF

I PERCENTAGE I
LOANS
|
I
CHANGE
|
OUT|
1 FROM L A S T I S T A N D I N G * !
1
YEAR
|
1

REPAYMENTS

5.2
2.8
2.6
2.2
1.5
1.4
3.3
5.0
5.2
5.0
8.2
8.7

THE

-7.9
-9.8
-9.2
-9.1
—9.2
-8.8
-8.4
-5.3
-4.8
-4.5
-1.6
-1.5

|
I
|
|
|
I
1
|
I
|
|
|
j

72886.
73701.
74412.
75288.
75600.
76105.
77136.
77212.
77608.
77932.
78459.
79480.

1
1
1
1
1
1
1
1
1
1
1
1

14.3
14.1
12.9
12.5
11.7
11.2
12.7
10.9
10.5
10.0
9.9
10.3

|
|
|
|
|
|
|
|
|
I
|
|

28.2
27.8
28.0
27.9
27.4
27.3
27.1
27.0
26.7
26.4
26.6
26.6

1
I
|
I
|
1
|
|
I
|
|
|

451.0
433.0
423.7
412.5
404.1
399.7
397.5
393.6
389.1
384.5
383.6
386.9

57.8
58.1
58.5
58.7
59.7
60.4
60.7
61.1
61.4
61.7
62.1
62.0

-0.0
1.5
1.1
1.8
4.2
5.4
6.5
6.6
7.3
8.4
7.7
7.5

|
|
1
I
|
|
i
|
|
|
|
|

80548.
81622.
83619.
84707.
85983.
86669.
88264.
88970.
89470.
89819.
90369.
90616.

1
1
1
1
1
1
1
1
1
1
1
1

10.5
10.7
12.4
12.5
13.7
13.9
14.4
15.2
15.3
15.3
15.2
14.0

|
|
|
|
|
|
|
I
|
|
I
|

26.7
26.9
27.4
27.5
28.0
28.2
28.6
28.6
28.6
28.5
28.4
28.2

62.0
61.8
61.3

7.3
6.4
4.9

|
|
|

91260.
91648.
91526.

1
1
1

13.3
12.3
9.5

|
|
1

28.0
27.7
27.1

1
|
|
I
|
|
1
I
|
|
|
1
1
1
1
1

374.3
376.7
378.9
382.9
385.3
380.1
374.8
375.3
380.7
381.2
381.5
380.3

21.5
19.5
14.8

|
|
|

57.8
57.2
57.8
57.7
57.2
57.3
57 .0
57.3
57.2
56.9
57.6
57.7

10.5
12.4
13.7
14.6
18.6
20.0
21.9
22.8
23.7
24.9
24.0
22.5

I
|
I
|
|
|
|
|
|
1
|
|
1
|
|
|
I
I
|
|
I
|
|
I
|
j

PRECEDING

1 2 MONTHS

(AVERAGE OF

END-OF-MONTH

DATA).

384.4
383.8
375.0

TABLE

14

223.1
F E D E R A L LAND BANKS
NEW MONEY LOANED
MILLIONS
OF
DOLLARS

|
I
I
1

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

|

YEAR

1

AS

PERCENTAGE OF

I L O A N S OUT—|
I STANDING*!

LOANS
CLOSED

1976—JAN..•|
—FEB...1
—MA R . . . I
-APR...I
-MAY...I
—JUN...|
-JUL...I
-AUG... 1
-SEP . . . 1
-OC T . . . |
-NOV... 1
-OEC...I

|
I
|
|
I
|
|
|
|
|
I
|
j

4.2
-13.1
56.0
-21.2
-15.3
10.2
-8.0
-14.1
-0.3
-3.0
12.6
23.9

I
|
|
I
|
I
|
|
|
|
|
1
|

—2 . 8
—1.8
19.9
6.7
—6.5
5.9
10.4
6.3
2.7
—6.2
35.5
10.7

1
1
1
I
1
I
1
1
I
I
1
1
j

2.0
1.7
2.7
2.1
1.7
1.9
1.7
1.5
1.4
1.4
1.5
1.9

|
|
|
|
|
|
|
|
|
|
|
|
j

82.
81.
83.
79.
80.'
80.(
81.
79.
79.
79.1
79.
78.

1977-JAN..•|
-FEB...|
-MAR...I
-APR...|
-MAY...I
-JUN...I
-JUL . . . 1
-AUG...|
-SEP...|
-OC T . . . I
-NOV...|
—DEC.. . I

376.1
346.2
551.9
403.9
405.0
398.7
382.1
309.8
289.3
275.4
324.3
355.8

|
|
|
|
1
|
|
|
|
|
I
1

8.9
-8.0
59.4
-26.8
0.3
-1.6
-4.2
-18.9
-6.6
-4.8
17.7
9.7

I
|
|
j
I
I
I
|
|
|
|
I

15.7
22.5
25.2
16.3
37.6
23.0
28.1
21.0
13.3
11.2
16.3
3.0

1
1
1
1
1
1
1
1
1
1
1
I
i

2.0
1.9
2.9
2.1
2.1
2.0
1.9
1.5
1.4
1.3
1.5
1.7

I
|
|
#
I
|
|
|
|
1
|
I
j

81.
80.
81.
77.
78.
78.
77.
76.
76.
76.
77.
79.

1978-JAN...|
-FEB...j
—MAR . . . |
*

325.0
282.5
440.7
347.3
294.3
324.2
298.3
256.1
255.4
247.6
278.7
345.5

409.3
343.7
503.4

I
|
|

15.0
—16.0
46.5

I
1
|

8.8
-0.7
-8.8

1
1
(

1.9
1.6
2.3

|
|
|

81.
79.
79.

O U T S T A N D I N G LOANS AT




END OF

P R E C E D I N G MONTH.

#

#

TABLE

#

#

#

#

#

#

*

#

223.3
FEDERAL LAND BANKS
NEW MONEY LOANED
TWELVE-MONTH MOVING TOTAL
MILLIONS
OF
DOLLARS

1
1
1

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

1976—JAN . . . 1
—FEB.••I
—MAR. * . |
-APR•••I
-MAY. . . I
-JUN...1
—JU L . . • 1
-AUG...I
-SEP...1
-OCT.. . |
-NOV.••I
—DEC . . . 1

I
|
|
|
|
I
|
|
|
|
1
I

-0.3
-0.1
2.1
0.6
-0.6
0.5
0.8
0.4
0.2
-0.5
2.0
0.9

1977-JAN...I
—FEB...1
—MAR . . . 1
-APR...!
—MAY... 1
—JUN...I
—JUL . . . 1
—AUG...|
-SEP...1
-OCT...I
-NOV... I
-DEC . . . 1

3746.6
3810.3
3921.5
3978.0
4088.7
4163.2
4247.1
4300.8
4334.7
4362.5
4408.0
4418.3

I
I
|
|
|
I
I
I
I
I
|
I

1.4
1.7
2.9
1.4
2.8
1.8
2.0
1.3
0.8
0.6
1.0
0.2

1978—JAN...|
—FEB...1
—MAR...|
*

3468.2
3463.2
3536.2
3557.9
3537.3
3555.5
3583.6
3598.7
3605.4
3589.1
3662.1
3695.6

4451.5
4449.1
4400.6

|
|
|

0.8
-0.1
-1.1

AVERAGE O U T S T A N D I N G L O A N S D U R I N G




|

YEAR

1

AS

P E RCE N T A G E

I LOANS OUT—|
I STANDING*!

OF

LOANS
CLOSED

|
|
I
I
1
|
1
1
I
|
I
I
1
|
|
|
|
1
1
|
I
1
I
|
|
|

2.4
0.1
0.1
-0.2
-1.1
-1.1
0.9
2.5
3.0
2.6
6.3
6.3

1
I
1
1
1
1
1
1
1
1
1
1
|

23.2
22.8
23.0
22.8
22.4
22.2
22.1
21.9
21.7
21.3
21.5
21.5

I
|
|
I
|
I
|
I
I
t
|
I
|

62.3
82.2
82.2
81.9
81.8
81.6
81.5
81.3
81.2
80.9
81.0
80.6

8.0
10.0
10.9
11.8
15.6
17.1
18.5
19.5
20.2
21.5
20.4
19.6

1
1
1
1
1
1
1
1
1
1
1
1
j

21.5
21.6
22.0
22.0
22.3
22.5
22.6
22.6
22.5
22.4
22.4
22.1

|
|
I
I
1
|
|
1
I
|
|
|
j

80.5
80.4
80.2
80.0
79.7
79.6
79.3
79.1
78.9
78.8
78.6
78.6

|
1
1

18.8
16.8
12.2

1
1
1

22.0
21.8
21.3

I
|
1

78.7
78.6
78.4

THE P R E C E D I N G

1 2 MONTHS

( A V E R A G E OF

END-OF-MONTH

DATA).

15

16
TABLE

224.1

FEDERAL LAND BANKS
R E F I N A N C I N G AND REPAYMENTS
R E F I N A N C I N G O F F E D E R A L LAND BANK
MILLIONS
OF
DOLLARS

1
1976—JAN.••I
-FEB••.I
—MAR•.•1

-APR...I
—MAY . . . 1
-JUN...I
-JUL••.|
—AUG••.1
-SEP...1
-OCT...|
-NOV . . . 1
-DEC...I

1

1977-JAN... 1

-FEB...I
—MAR . . .
—APR . . .
-MAY . . .
-JUN...

I
1
1
I

-JUL...I
-AUG . . . 1

-SEP...I
—OC T . . . I
-NOV...1
-DEC . . . 1

1
1978-JAN... I
—FEB..• 1
—MA R . . . I
*

67.9
64.3
86.9
89.1
69.4
80.8
68.8
64.6
67.9
66.0
71.8
92.1

1

MONTH

I
I
|
I
1

I
I

1
|
|
1
1
|

87.6
83.3
127.1
117.4
113.3
107.3
110.1
93.1
90.5
83.2
94.6
93.1

|
1
1
|
|
1
1
1
1
|

93.4
89.3
129.0

8.0
-5.2
35.2
2.5
-22.1
16.5
-14.9
-6.1
5.0
-2.7
8.8
28.3
-4.9
-4.9
52.6
-7.6
-3.5
-5.3
2.6
-15.4
-2.8
-8.0
13.7
-1.5

|
|
1

O U T S T A N D I N G LOANS AT

AS

P E R C E N T A G E CHANGE
FROM P R E V I O U S

I

1
|

END OF

0.3
-4.4
44.5

YEAR

|

I
1
I
|

1

1
|

1
I
|

1

1
;
1

I

I
|
|
1

1
I
1

|
|
1
|
1
|
|

REPAYMENTS

LOANS

PERCENTAGE

OF

LOANS
CLOSED

LOANS OUT—|
STANDING*!

MILLIONS
OF
DOLLARS

PERCENTAGE CHANGE
FROM P R E V I O U S
MONTH

YEAR

I

6.9
8.0
21.3
25.3
8.0
21.5
13.3
36.4
9.5
18.5
27.2
46.6

0.42
0.40
0.53
0.53
0.41
0.47
0.40
0.37
0.38
0.37
0.40
0.50

I
1
1
I
|
I
I
|
|
1
I
|

17.3
18.5
16.5
20.4
19.1
20.0
18.7
20.2
21.0
21.0
20.5
21.1

149.0
102.8
110.4
101.0
81.0
80.5
78.8
72.6
79.3
82.2
106.2
141.5

10.0
-31.0
7.4
-8.5
-19.8
-0.5
-2.2
-7.9
9.3
3.6
29.2
33.3

I
1
|
|
|
I
1
|
|
|
I
|
j

10.6
60.6
61.9
58.3
28.6
32.9
23.7
36.4
25.4
17.2
32.2
4.5

0.93
0.64
0.67
0.60
0.48
0.47
0.45
0.41
0.45
0.46
0.59
0.77

29.1
29.5
46.2
31.8
63.2
32.8
60.0
44.1
33.3
26.1
31.7
1.1

0.47
0.45
0.67
0.61
0.58
0.54
0.55
0.46
0.44
0.40
0.45
0.44

I
I
|
|
I
|
I
|
|
|
|
|

18.9
19.4
18.7
22.5
21.9
21.2
22.4
23.1
23.8
23.2
22.6
20.7

207.6
117.0
142.9
109.6
113.3
125.3
131.5
92.6
73.5
92.1
123.1
149.1

46.7
—43.6
22.1
-23.3
3.3
10.6
5.0
-29.6
-20.5
25.3
33.6
21.1

|
I
1
|
|
I
1
|
|
|
|
I
|

39.3
13.8
29.5
8.6
39.9
55.6
67.0
27.6
-7.3
12.1
15.9
5.4

1.12
0.63
0.76
0.57
0.58
0.63
0.65
0.45
0.36
0.44
0.58
0.70

6.6
7.2
1.5

0.44
0.41
0.59

|
1
I

18.6
20.6
20.4

202.0
120.2
165.0

35.4
-40.5
37.3

I
|
|

-2.7
2.7
15.5

0.94
0.55
0.75

P R E C E D I N G MONTH.

" R E F I N A N C I N G OF FEDERAL LAND BANK L O A N S " I S COMPUTED AS LOANS C L O S E D L E S S NEW MONEY LOANED.
" R E P A Y M E N T S * ARE COMPUTED AS NEW MONEY LOANED L E S S T H E CHANGE I N LOANS O U T S T A N D I N G .




AS P E R CENTAGE O F
LOANS O U T STANDING*

TABLE

224.3
FEDERAL LAND BANKS
R E F I N A N C I N G AND R E P A Y M E N T S
TWELVE-MONTH MOVING TOTAL
REFINANCING
MILLIONS
OF
DOLLARS

1
|
1
1

OF

F E D E R A L LAND BANK

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

|

YEAR

1

LOANS

REPAYMENTS

A S PERCENTAGE

ILOANS O U T - |
I STANDING*!

OF

LOANS
CLOSED

MILLIONS
OF
DOLLARS

1
|
|
1

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

|

YEAR

I
AS P E R C E N T A G E OF
I LOANS O U T I STANDING*

1976-JAN...I
—FEB•.• |
—MAR . . . I
—AP R . . . I
—MAY . . . I
—JUN... I
—JUL... |
—AUG...1
-SEP...|
-OCT...1
—NOV . . . 1
-DEC...|

|
1
|
|
I
|
1
I
|
1
I
|

0.6
0.6
2.0
2.3
0.7
1.8
1.0
2.1
0.7
1.2
1.8
3.4

|
|
|
|
|
I
|
I
|
|
I
|
1

21.0
17.3
16.0
15.2
14.5
14.3
15.0
17.3
15.8
16.8
16.9
19.9

1
1
1
1
1
1
1
1
1
1
1
1

5.0
5.0
5.0
5.0
5.0
5.0
5.0
5.1
5.0
5.0
5.1
5.2

I
1
|
|
1
|
1
|
|
|
|
|

17.7
17.8
17.8
18.1
18.2
18.4
18.5
18.7
18.8
19.1
19.0
19.4

934.5
973.3
1015.5
1052.7
1070.7
1090.6
1105.7
1125.0
1141.1
1153.2
1179.0
1185.2

|
|
|
|
|
|
|
|
1
|
|
I

1.6
4.1
4.3
3.7
1.7
1.9
1.4
1.7
1.4
1.1
2.2
0.5

|
I
|
|
I
|
|
|
1
|
|
|

11.7
17.7
23.7
28.7
30.1
31.0
31.8
34.3
33.0
33.7
34.5
28.8

I
I
I
1
1
1
I
1
I
1
I
1

6.3
6.4
6.6
6.8
6.8
6.8
6.8
6.9
6.9
6.9
6.9
6.9

1977-JAN...I
-FEB...|
—MAR . . . 1
—APR...1
—MAY . . . I
-JUN...I
-JUL...|
—AUG...I
-SEP...I
-OCT...|
-NOV...|
—DEC...|

909.5
928.5
968.6
997.0
1040.9
1067.3
1108.6
1137.1
1159.7
1176.9
1199.7
1200.7

1
I
I
|
1
|
|
I
|
I
|
|
j

2.2
2.1
4.3
2.9
4.4
2.5
3.9
2.6
2.0
1.5
1.9
0.1

I
I
|
|
|
|
I
|
I
|
I
|
|

21.9
23.6
26.4
27.1
31.9
32.8
36.6
37.2
38.9
39.3
39.4
35.0

I
1
1
1
1
1
1
1
1
1
1
1
j

5.2
5.3
5.4
5.5
5.7
5.8
5.9
6.0
6.0
6.0
6.1
6.0

|
|
|
|
I
|
I
I
I
|
1
|
|

19.5
19.6
19.8
20.0
20.3
20.4
20.7
20.9
21.1
21.2
21.4
21.4

1243.8
1258.0
1290.5
1299.2
1331.4
1376.2
1429.0
1449.0
1443.2
1453.1
1470.1
1477.7

|
I
|
|
|
|
|
|
|
1
I
I

4.9
1.1
2.6
0.7
2.5
3.4
3.8
1.4
-0.4
0.7
1.2
0.5

I
1
|
|
|
|
1
I
|
|
I
|

33.1
29.3
27.1
23.4
24.4
26.2
29.2
28.8
26.5
26.0
24.7
24.7

1
1
1
1
1
1
I
1
1
1
1
1

7.1
7.1
7.2
7.2
7.3
7.4
7.6
7.6
7.5
7.5
7.5
7.4

1978—JAN...I
—FEB . . . 1
—MAR . . . 1
*

746.2
751.0
766.3
784.2
789.3
803.6
811.7
828.9
834.8
845.1
860.5
889.7

1206.5
1212.5
1214.4

I
1
|

0.5
0.5
0.2

|
|
|

32.7
30.6
25.4

1
1
1

6.0
5.9
5.9

1
|
|

21.3
21.4
21.6

1472.0
1475.3
1497.4

|
1
|

-0.4
0.2
1.5

|
I
I

18.4
17.3
16.0

1
1
1

7.3
7.2
7.2

AVERAGE O U T S T A N D I N G

LOANS D U R I N G

THE P R E C E D I N G

1 2 MONTHS

( A V E R A G E OF

END-OF-MONTH

DATA).

" R E F I N A N C I N G OF F E D E R A L LAND BANK L O A N S " I S COMPUTED AS LOANS C L O S E D L E S S NEW MONEY L O A N E D .
" R E P A Y M E N T S " ARE COMPUTED AS NEW MONEY LOANED L E S S T H E CHANGE I N LOANS O U T S T A N D I N G .




AGRICULTURAL

230

LIFE

231

INSURANCE

1978

ACTUAL

19

ACQUIRED

ACTUAL
1 2 - M O N T H MOVING

20
21

TOTAL

FARM MORTGAGE COMMITMENTS O U T S T A N D I N G

233.1

SOURCE:

APRIL

COMPANIES

FARM MORTGAGES

232.1
232.3

233

DATABOOK—MONTHLY S E R I E S

FARM MORTGAGES O U T S T A N D I N G

231.1

232

FINANCE

ACTUAL

"MONTHLY




•

22

STATISTICAL

REPORT,™

AMERICAN C O U N C I L

OF

LIFE

INSURANCE.

e

#

TABLE

#

#

#

231.1
L I F E INSURANCE COMPANIES
FARM MORTGAGES OUTSTANDING
END OF MONTH
1
I
1
1
1

MILLIONS

AMOUNT

1976-JAN...I
-FEB...I
—MAR. . . I
-APR...I
-MAY...I
-JUN...I
—JUL•••I
-AUG. . . 1
-SEP...I
-OCT...I
-NOV...I
-DEC...I
1
1
1977—JAN.••|
-FEB...I
-MAR...I
—APR•••|
—MAY. . . I
-JUN...I
—JUL. . . I
-AUG...I
-SEP.••I
-OCT...I
—NOV...I
—DEC . . . I




O F DOLLARS

1
1
CHANGE FROM P R E V I O U S |
1
YEAR
|
MONTH
I

6744.
6781.
6827.
6873.
6941.
7000.
7068.
7124.
7181.
7217.
7286.
7418.

-9.
37.
46.
46.
68.
59.
68.
56.
57.
36.
69.
132.

|
I
1
1
1
1
I
I
1
I
|
I
j

444.
387.
399.
369.
398.
427.
484.
518.
550.
556.
607.
665.

7428.
7513.
7625.
7816.
7926.
8140.
8236.
8331.
8475.
8569.
8648.
8843.

10.
85.
112.
191.
110.
214.
96.
95.
144.
94.
79.
195.

I
|
|
|
|
|
1
I
|
|
I
|

684.
732.
798.
943.
985.
1140.
1168.
1207.
1294.
1352.
1362.
1425.

|
|
I
I
I
I
|
1
|
1
|
|
i
1
|
1
|
|
|
|
I
1
|
I
1
I

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

|
1

YEAR

-0.1
0.5
0.7
0.7
1.0
0.9
1.0
0.8
0.8
0.5
1.0
1.8

|
|
I
I
|
1
1
|
|
|
I
|

7.0
6.1
6.2
5.7
6.1
6.5
7.4
7.8
8.3
8.3
9.1
9.8

0.1
1.1
1.5
2.5
1.4
2.7
1.2
1.2
1.7
1.1
0.9
2.3

I
1
|
|
1
|
1
I
1
1
|
S

10.1
10.8
11.7
13.7
14.2
16.3
16.5
16.9
18.0
18.7
18.7
19.2

19

TABLE

232.1
L I F E INSURANCE COMPANIES
FARM MORTGAGES A C Q U I R E D
1
1
1
1
1

MILLIONS

AMOUNT

OF

DOLLARS

I
1
CHANGE FROM P R E V I O U S 1
1
MONTH
|
YEAR
1

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

|
1

YEAR

1976—JAN...|
-FEB . . . 1
-MAR...|
-APR...I
-MAY . . . 1
—JUN... |
-JUL...I
-AUG...I
-SEP...I
-OCT...I
-NOV... 1
-DEC...I
i
1

-53.
16.
20.
-8.
-3.
6.
7.
-32.
17.
-44.
37.
126.

1
I
|
I
|
|
I
1
|
|
|
I

20.
-48.
17.
8.
50.
56.
83.
53.
61.
25.
51.
89.

I
I
|
I
1
1
|
1
1
I
1
I
|

-34.6
16.0
17.2
-5.9
-2.3
4.8
5.3
-23.2
16.0
-35.8
46.8
108.6

|
|
|
I
|
|
|
|
1
|
I
1
j

25.0
-29.3
14.3
6.7
66.7
74.7
150.9
100.0
98.4
46.3
78.5
58.2

1977-JAN...I
-FEB...I
-MAR...1
-APR...I
—MAY . . . I
-JUN...I
-JUL...I
—AUG * . • I
-SEP...I
-OCT...!
—NOV . . . I
—DEC . . . I
*

100.
116.
136.
128.
125.
131.
138.
106.
123.
79.
116.
242.
160.
156.
233.
256.
214.
278.
168.
188.
209.
144.
135.
319.

-82.
-4.
77.
23.
-42.
64.
-110.
20.
21.
-65.
—9.
184.

I
1
I
I
1
1
1
1
|
1
|
|

60.
40.
97.
128.
89.
147.
30.
82.
86.
65.
19.
77.

I
1
|
|
|
|
1
|
1
1
1
|

-33.9
-2.5
49.4
9.9
-16.4
29.9
-39.6
11.9
11.2
-31.1
-6.3
136.3

|
|
|
|
1
|
I
|
I
1
|
|

60.0
34.5
71.3
100.0
71.2
112.2
21.7
77.4
69.9
82.3
16.4
31.8

O U T S T A N D I N G MORTGAGES




AT END OF

P R E C E D I N G MONTH.

AS P E R CENTAGE OF
MORTGAGES
OUTSTANDING*
1.5
1.7

2.0
1.9

1.8
1.9

2.0
1.5
1.7

1.1
1.6

3.3

2.2
2.1
3.1
3.4
2.7
3.5

2.1

2.3
2.5
1.7

1.6

3.7

TABLE

232.3
L I F E INSURANCE COMPANIES
FARM MORTGAGES A C Q U I R E D
TWELVE-MONTH MOVING TOTAL
1
1
1
1
1

MILLIONS

AMOUNT

1976—JAN . • . |
-FEB•.•1
-MAR...I
—APR. . . |
—MAY . . . |
-JUN...I
-JUL...|
-AUG...!
-SEP.,.!
-OCT...I
-NOV... I
-DEC . . . 1
1
1
1977-JAN...1
—FEB...|
—MAR...|
-APR . . . I
—MAY... I
-JUN...I
-JUL . . . I
-AUG...I
-SEP...|
-OCT...I
-NOV... 1
—DEC . . . 1
*

O F DOLLARS

I
1
CHANGE FROM P R E V I O U S I
1
MONTH
|
YEAR
1

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

YEAR

1095.
1047.
1064.
1072.
1122.
1178.
1261.
1314.
1375.
1400.
1451.
1540.

20.
-48.
17.
8.
50.
56.
83.
53.
61.
25.
51.
89.

|
|
|
1
|
|
|
|
|
|
I
|
j

97.
-51.
-29.
-49.
21.
99.
223.
296.
350.
393.
432.
465.

|
1
|
|
I
I
I
|
|
|
1
I

1.9
-4.4
1.6
0.8
4.7
5.0
7.0
4.2
4.6
1.8
3.6
6.1

|
|
|
I
|
|
|
|
1
I
|
|

9.7
-4.6
-2.7
-4.4
1.9
9.2
21.5
29.1
34.1
39.0
42.4
43.3

1
1
1
1
1
1
1
I
1
1
1
1

16.7
15.9
16.1
16.1
16.8
17.5
18.7
19.3
20.1
20.3
20.9
22.1

1600.
1640.
1737.
1865.
1954.
2101.
2131.
2213.
2299.
2364.
2383.
2460.

60.
40.
97.
128.
89.
147.
30.
82.
86.
65.
19.
77.

|
|
|
I
|
|
I
|
|
|
|
|

505.
593.
673.
793.
832.
923.
870.
899.
924.
964.
932.
920.

1
I
|
|
I
|
|
|
|
|
I
|

3.9
2.5
5.9
7.4
4.8
7.5
1.4
3.8
3.9
2.8
0.8
3.2

|
I
|
|
|
|
1
1
1
|
I
|

46.1
56.6
63.3
74.0
74.2
78.4
69.0
68.4
67.2
68.9
64.2
59.7

1
1
1
1
1
1
1
1
1
1
1
1

22.7
23.1
24.3
25.8
26.8
28.5
28.5
29.2
29.9
30.4
30.2
30.7

AVERAGE O U T S T A N D I N G MORTGAGES D U R I N G THE P R E C E D I N G




|
1

I
AS P E R C E N T A G E Of
I MORTGAGE!
1
OUT1 STANDING*

1 2 MONTHS

(AVERAGE OF

END-OF-MONTH D A T A ) .

21

TABLE

233.1
L I F E INSURANCE COMPANIES
O U T S T A N D I N G FARM MORTGAGE C O M M I T M E N T S
END O F MONTH
1
1
i
i
i

MILLIONS

OF

CHANGE

DOLLARS

I

1
1
PREVIOUS|
1
YEAR
|

FROM

AMOUNT

1976—JAN.•• 1
—FEB.*.1
-MAR . . . 1
-APR . . . I
—MAY... 1
-JUN...I
-JUL . . . 1
-AUG . . . 1
-SEP..eI
-OCT... 1
-NOV... 1
-DEC . . . 1
1
1977-JAN... I
-FEB... |
-MAR...!
—APR...|
—MAY... 1
-JUN...I
-JUL... 1
-AUG...|
-SEP...I
-OCT...I
-NOV...I
-DEC . . . I
1
1978—JAN . . . I




MONTH

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

|
1

YEAR

AS P E R C E N T A G E
OF MORTGAGES
OUTSTANDING

ACQUIRED
I N MONTH

466.0
477.0
479.0
501.0
482.0
490.0
487.0
494.0
520.0
582.0
592.0
553.0

7.0
11.0
2.0
22.0
-19.0
8.0
-3.0
7.0
26.0
62.0
10.0
-39.0

|
I
1
|
|
|
|
|
|
1
|
|

-30.0
-23.0
13.0
71.0
69.0
91.0
88.0
89.0
82.0
109.0
86.0
94.0

|
1
1
I
|
I
1
I
I
|
I
I
|

1.5
2.4
0 . 4
4.6
- 3 . 8
1.7
—0 . 6
1.4
5.3
11.9
1.7
- 6 . 6

|
I
|
|
I
|
1
I
|
|
I
I
|

—6.0
—4.6
2.8
16.5
16.7
22.8
22.1
22.0
18.7
23.0
17.0
20.5

6.9
7.0
7.0
7.3
6.9
7.0
6.9
6.9
7.2
8.1
8.1
7.5

466.0
411.2
352.2
391.4
385.6
374.0
352.9
466.0
422.8
736.7
510.3
228.5

567.0
614.0
603.0
663.0
680.0
671.0
673.0
696.0
745.0
769.0
782.0
768.0

14.0
47.0
-11.0
60.0
17.0
-9.0
2.0
23.0
49.0
24.0
13.0
-14.0

|
|
|
1
I
|
1
I
|
|
|
|

101.0
137.0
124.0
162.0
198.0
181.0
186.0
202.0
225.0
187.0
190.0
215.0

I
|
1
1
I
|
!
1
1
1
1
|

2.5
8.3
- 1 . 8
10.0
2.6
- 1 . 3
0.3
3.4
7.0
3.2
1.7
- 1 . 8

21.7
28.7
25.9
32.3
41.1
36.9
38.2
40.9
43.3
32.1
32.1
38.9

7.6
8.2
7.9
8.5
8.6
8.2
8.2
8.4
8.8
9.0
9.0
8.7

354.4
393.6
258.8
259.0
317.8
241.4
400.6
370.2
356.5
534.0
579.3
240.8

742.0

-26.0

1
1

I
I
I
1
I
1
1
|
|
|
|
|
i

175.0

1

- 3 . 4

|

30.9

*********

*********

•

•
AGRICULTURAL

300

•

FINANCE

AGRICULTURAL

301

302

310
311

312

OF

•

•

I

1978

LOANS

BANKS AND AVERAGE

RESERVE

PERCENTAGE

FEDERAL RESERVE

312.3

APRIL

•

YEAR

24

DAILY

BORROWING......................25

AND LOANS AT A G R I C U L T U R A L BANKS

FEDERAL

311.3

•

BORROWING BY MEMBER BANKS

NUMBER

DEPOSITS

•

BANKING DATA

AMOUNT AND CHANGE FROM P R E V I O U S

SEASONAL

302.1

•

DATABOOK—MONTHLY S E R I E S

FARM N O N - R E A L - E S T A T E

301.1

•

PERCENTAGE

DISTRICTS
CHANGE

7

FROM

DISTRICT

6

AND 9
PREVIOUS

YEAR,

AND L O A N / D E P O S I T

RATIO

26

YEAR,

AND L O A N / D E P O S I T R A T I O

27

AND TEXAS

CHANGE FROM P R E V I O U S

FOR I N F O R M A T I O N ON THE D E S I G N OF THE SEASONAL BORROWING P R I V I L E G E FOR WHICH
DATA ARE SHOWN I N S E C T I O N 3 0 2 , AND ALSO AN A N A L Y S I S OF I T S P O T E N T I A L AND
ACTUAL U S E BY A G R I C U L T U R A L B A N K S , S E E " S E A S O N A L BORROWING AT THE F E D E R A L
R E S E R V E D I S C O U N T W I N D O W , " BY EMANUEL MELICHAR AND H A R R I E T H O L O E R N E S S ,
OCTOBER 1 9 7 4 , P P . 4 2 - 5 1 .

AGRICULTURAL FINANCE REVIEW,

FOR A B R I E F D I S C U S S I O N O F T H E A N A L Y T I C A L VALUE OF T H E DATA I N S E C T I O N 3 1 0 ,
THE S E C T I O N E N T I T L E D " F R E Q U E N T D E P O S I T AND LOAN D A T A " I N " O V E R A L L MEASURES
F I N A N C I A L P E R F O R M A N C E . " BY EMANUEL M E L I C H A R . A G R I C U L T U R A L F I N A N C E R E V I E W .
FEBRUARY 1 9 7 7 , P P . 8 7 - 8 8 .




SEE
OF

23

TABLE 3 0 1 . 1
FARM N O N - R E A L - E S T A T E
(END
AMOUNT
LARGE
BANKS
(MILLIONS
OF
DOLLARS)
1976-JAN...
—FEB...
-MAR...
-APR . . .
-MAY...
-JUN...
-JUL . . .
-AUG...
-SEP . . .
-OCT...
-NOV...
-DEC...

3645.
3627.
3710.
3802.
3837.
3959.
3999.
4171.
4247.
4278.
4258.
4262.

1977-JAN...
-FEB...
-MAR...
-APR...
-MAY...
-JUN...
-JUL...
-AUG...
-SEP...
-OCT...
-NOV...
-DEC...

4243.
4165.
4268.
4369.
4578.
4694.
4743.
4758.
4794.
4798.
4700.
4700.

1978-JAN...
-FEB...
—MAR...

4639.
4525.
4783.

CHANGE

1 ALL COMMERCIAL BANKS
! ( B I L L I O N S OF DOLLARS)
I

I
1
1
1
1
I
1
I
1
1
1
1

ACTUAL

20.2
20.3
20.5
21.2
21.6
22.2
22.4
22.6
22.9
23.0
23.1
23.3

1

23.7

1

25.6

1

26.3

1

25.7

I SEASONALLY
I ADJUSTED
I
1
1
1
1
I
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
I
1
1
1
1
1
1
1
1

20.6
20.7
20.7
21.3
21.5
21.8
22.0
22.3
22.7
23.0
23.3
23.5

24.0

25.2

26.0

26.0

LARGE
BANKS
(MILLIONS
OF
DOLLARS)
46.
129.
320.
377.
440.
501.
450.
590.
616.
681.
711.
622.
598.
538.
558.
567.
741.
735.
744.
587.
547.
520.
442.
438.
396.
360.
515.

FROM

LOANS AT COMMERCIAL BANKS
O F MONTH1
PREVIOUS

|
1
1 ALL COMMERCIAL B A N K S l
1 ( B I L L I O N S OF D O L L A R S ) !
1
1
I
ACTUAL
1 SEASONALLY!
1 ADJUSTED I
1
1
I
1
1
1
1
1
1
1
1
1
1
I
1
1
1
1
1

2.1
2.2
2.2
2.7
2.9
3.1
3.0
2.9
3.0
3.1
3.2
3.1

1
1
1
1
1
1
1

3.4

1
1
1

3.2

3.4

2.4

1
1
1
I
!
I
!
1
i
1
!
1
l
1
1
i
1
1
1
1
1
1
1
1
1
1
1
1
1
I

YEAR

2.0
2.3
2.2
2.6
3.0
3.1
3.0
2.9
3.0
3.1
3.2
3.1

3.3

3.4

3.3

2.5

1
|
1
!
1
I
1
1
I
|
1
1
|1
1
1
|
1
1
!
1
t
1
1
1
|
§
1
1
1

PERCENTAGE CHANGE FROM
P R E V I O U S YEAR
LARGE
BANKS

1.3
3.7
9.4
11.0
13.0
14.5
12.7
16.5
17.0
18.9
20.0
17.1
16.4
14.8
15.0
14.9
19.3
18.6
18.6
14.1
12.9
12.2
10.4
10.3
9.3
8.6
12.1

1 ALL COMMERCIAL BANKS
!
1
ACTUAL
| SEASONALLY
1
1 ADJUSTED
1
1
1
1
1
1
1
I
!
1
1
1
I
1
1
1
!
1
1
1
!
I
1

11.6
12.2
11.8
14.6
15.5
16.2
15.5
14.7
15.3
15.6
16.1
15.3

1
1
I
1
1

10.3

15.8

15.5

14.6

1
I
1
1
I
1
|
|
1
I
1
1
1
1
!
1
1
1
1
1
1
I
I

10.8
12.5
11.9
13.9
16.2
16.6
15.8
14.9
15.3
15.6
15.9
15.2

!
1
1
I
1

10.5

15.8

15.5

14.6

L A R G E - B A N K DATA ARE FOR A P P R O X I M A T E L Y 3 3 0 COMMERCIAL BANKS THAT S U B M I T THE F . R . 4 1 6 WEEKLY R E P O R T OF C O N D I T I O N .
ARE BANKS THAT HAD T O T A L D E P O S I T S I N E X C E S S O F $ 1 0 0 M I L L I O N A S O F DECEMBER 3 1 , 1 9 6 5 .
DATA SHOWN FOR ALL COMMERCIAL BANKS ARE FROM CALL R E P O R T S A V A I L A B L E FOR J U N E AND DECEMBER 1 9 7 5 AND Q U A R T E R L Y
(MARCH AND S E P T E M B E R DATA ARE E S T I M A T E D FOR U N I N S U R E D B A N K S ) .
FOR OTHER M O N T H S , DATA SHOWN ARE I N T E R P O L A T E D
DATA FOR DEC 1 9 7 7 ARE P R E L I M I N A R Y E S T I M A T E S .




THESE

STARTING IN
ESTIMATES.

MARCH 1 9 7 6

TABLE

302.1

MEMBER

BANK B O R R O W I N G UNDER S E A S O N A L BORROWING P R I V I L E G E
WEEK E N D I N G ON L A S T WEDNESDAY O F MONTH

NUMBER

OF

DEPOSIT
1
1
1
1

SIZE

UP TO
$100
MILLION

TOTAL

AVERAGE D A I L Y SEASONAL BORROWING
(THOUSANDS OF D O L L A R S )

BANKS

OF

DEPOSIT

BANK

OVER
$100
MILLION

1976-JAN***!
-FEB.e.l
—MAR•••|
—APR. . . I
—MAY . . . 1
-JUN...I
-JUL.**!
—AUG***1
-SEP* e * |
—OC T • • • I
-NOV***!
-DEC***!

7.
10.
17.
20*
21*
42*
38*
40*
49*
40*
31*
19*

7*
10*
17*
20*
21*
41*
37*
39*
48*
38*
31*
19.

0*
0*
0*
0.
0.
1.
1.
1.
1.
2.
o.
o.

1977—JAN * • * 1
-FEB**.!
—MAR * * * !
-APR***!
—MAY* * * I
-JUN * * * 1
—JUL . . . 1
—AUG * * * !
-SEP...1
-OCT...!
-NOV...!
-DEC***!
1
1
1978—JAN,* * I
-FEB***!
-MAR...I

8*
10*
17*
21*
45.
59*
63*
99*
92*
81*
53*
34*

8*
10*
17*
21*
44*
55.
59.
89.
83.
74.
45.
31.

0.
o.
o.
o.
1.
4*
4*
10*
9*
7*
8*
3*

23*
31*
51.

23*
31*
49*

0*
0*
2*

42.

1
1
I

1.

|

-APR....




43.
ION

IS

1
1
1
l
I
I
1
1
1
1
1
1
1
1
1
1
1
1
!
1
I
I
I
1
1
1
1
I
1

B A S E D ON AVERAGE

TOTAL

SIZE

U P TO
$100
MILLION

OF

BANK

OVER
$100
MILLION

8267*
8233*
9605*
11153*
11637*
27898*
25957*
23354*
33618*
33297*
27215*
9970*

8267*
8233*
9605*
11153*
11637*
25898*
20243*
17354*
29618*
29154*
27215*
9970*

0*
0*
0*
0*
0*
2000*
5714*
6000*
4000*
4143*
0*
0*

8113*
11353*
14161*
15030*
34503*
70158*
68701*
130235*
115456*
116094*
74288*
52761*

8113*
11353*
14161*
15030*
32503*
45658*
48508*
80936*
73456.
74794.
41488.
34461.

0.
0.
0*
0*
2000*
24500*
20193*
49299*
42000*
41300*
32800*
18300*

35588*
52858*
51892*

35588*
52858*
50535*

0*
0*
1357*

44686.

4714.

49400.
DEPOSITS

IN

1972*

25

26
TABLE

311.3

D E P O S I T S AND LOANS AT A G R I C U L T U R A L BANKS
S E V E N T H AND N I N T H F E D E R A L R E S E R V E D I S T R I C T S
SEVENTH FEDERAL RESERVE D I S T R I C T

N I N T H FEDERAL RESERVE D I S T R I C T ( M I N N E A P O L I S )
SECOND WEDNESDAY O F MONTH

(CHICAGO)

I
*

PERCENTAGE

L

I
I

J

CHANGE

DEPOSITS
TOTAL

1

GL&AWD—I

1976—JAN.•• 1
-FEB...I
—MAR . . . 1
-APR.. . 1
-MAY...1
-JUN...I
—JUL... I
-AUG...I
-SEP..•1
-OCT...I
-NOV . . . I
-DEC...1

11.5
12.1
12.5
12.9
13.8
13.2
11.8
11.5
12.0
11.7
10.6
11.5

1
1
1
I
1
1
I
I
I
1
|
I
|

1.5
4.0
5.4
6.2
8.5
7.5
5.2
5.3
5.4
3.2
0.5
3.9

1977—JAN...I
-FEB.•.I
-MAR . . . I
—APR . . . I
-MAY . . . 1
—JUN... I
-JUL... I
—AUG... 1
-SEP...1
-OCT...I
—NOV . . . 1
-OEC...I
1
1
1978—JAN...I
-FEB...1
-MAR . . . I

11.5
11.1
11.8
12.3
12.3
11.5
10.7
10.5
9.7
8.5
9.0
9.5

1
1
1
1
1
|
I
|
1
1
I
1
j

3.1
2.0
4.5
5.7
5.4
3.8
1.2
1.1
-1.1
-2.6
0.6
2.3

8.1
7.3
7.2

1
I
|

2.4
0.9
1.9

FUNDS

FROM P R E V I O U S

SOLD AND S E C U R I T I E S




PERCENTAGE

YEAR

LOANDEPOSIT
RATIO

LOANS
IlttJL

18.2
17.5
17.2
17.4
17.6
17.5
16.7
16.4
17.7
18.7
17.7
17.9

18.0
17.5
17.5
17.5
17.7
17.8
18.3
17.7
17.2
15.8
15.0
15.3
5.5
5.3
4.7

15.1
15.3
15.1
16.5
20.7

16.8

17.7
18.5

18.6
18.8
18.5

18.1

20.1
19.6

20.6
20.0

15.8

20.8
23.0

22.6
23.2
22.4

20.8
20.4

10.9
10.5
9.1

P U R C H A S E D UNDER AGREEMENTS

0.537
0.537
0.543
0.545
0.572
0.551
0.560
0.561
0.558
0.555
0.561
0.568
0.574
0.574
0.581
0.578
0.586
0.593
0.612
0.617
0.621
0.623
0.619
0.621
0.614

0.616

0.617

TO R E S E L L .

CHANGE FROM P R E V I O U S

DEPOSITS
TOTAL

I

9.6

10.1

8.2
9.6
9.0

8.6
8.3
8.9
7.9
9.3
8.3

DEMAND

—0.6
3.0

1.2

5.4
4.3
3.6
2.9
4.3
0.4

1.8

0.5

8.0

-0.0

7.4
7.2

-0.8
-1.1

8.8
8.7
9.1

8.6
8.0

0.8
0.2
1.2
1.0
0.8

LOANS
1

14.9
13.3
11.3
11.4

11.0
10.8
10.6

10.9

11.1
12.6
11.8
11.6
11.1
10.6
12.1
12.2
12.2
11.7

10.8
11.0
10.6
10.0

-0.1
3.0
3.2

9.4
9.1

8.5
7.9

7.7
5.6

8.9

8.2

2.1

6.1

LOANDEPOSIT
RATIO

3JHEL

7.8
8.5
7.7
7.6
7.4

3.3

YEAR

8.8

9.0

9.1

12.8

0.607
0.619

11.3
10.5
10.9
13.0
11.3
12.4
13.4
14.0
14.4

0.616

12.6

0.622
0.635
0.640
0.645
0.649
0.654
0.650
0.644
0.642

12.4
12.9
14.7
14.3
14.3
13.4
14.9
14.4
13.4
14.0
14.7
13.7

0.635
0.651
0.650
0.654
0.665
0.669
0.686
0.689
0.684
0.688
0.687
0.680

13.9
13.2
13.4

0.683
0.681

0.666

TABLE

312.3
D E P O S I T S AND LOANS AT A G R I C U L T U R A L BANKS
S I X T H FEDERAL R E S E R V E D I S T R I C T AND T E X A S
S I X T H FEDERAL RESERVE D I S T R I C T (ATLANTA)
MONTHLY AVERAGE E N D I N G SECOND WEDNESDAY OF MONTH
P E R C E N T A G E CHANGE

FROM P R E V I O U S

YEAR

DEPOSITS
LOANS
TOTAL

1

DEMAND

1

TIME

|
1
1
1
1

LOANDEPOSIT
RATIO

TEXAS

I
1

PERCENTAGE CHANGE
FROM P R E V I O U S YEAR
LOANS

1
I
I
I
1

LOANDEPOSIT
RATIO

1
1
1
1
|
I
|
1

I DEPOSITS
1

I
1

0.570
0.573
0.569
0.572
0.589
0.591
0.598
0.605
0.606
0.598
0.595
0.594

i
1
1
1
1
1
1
1
1
I
1
1

15.9
15.4
15.0
15.3
14.1
12.9
12.1
10.5
10.1
10.0
10.2
11.3

|
|
|
I
|
|
|
|
|
|
|
|

10.8
12.1
13.0
14.4
16.4
18.2
19.8
21.3
21.3
20.9
20.3
17.6

1
I
I
1
I
1
1
I
I
1
1
1

0.479
0.477
0.482
0.487
0.507
0.516
0.522
0.533
0.536
0.536
0.531
0.521

|
|
I
|
|
|
|
|
|
I
I
1

17.4
18.2
18.9
19.6
19.3
18.8
18.6
18.6
18.8
17.8
16.8
17.6

I
1
I
I
1
1
1
1
1
1
I
1
|

0.502
0.505
0.516
0.524
0.546
0.554
0.559
0.568
0.571
0.567
0.557
0.552

|
|
|
1
I
I
I
|
|
I
I
|
j

1
0.526
1
0.528
I
0.534
j*********

1
|
I
j

1976-JAN...
-FEB...
-MAR*.•
—APR...
-MAY...
—JUN...
—JUL...
-AUG...
-SEP...
-OCT...
-NOV...
-DEC...

*********

|*********

|*********

*********

|

8.5
10.5
11.1
11.7
10.7
10.2
10.4
10.1
11.0
12.1
12.3

I
I
1
I
I
I
1
1
1
I
1

9.9
8.5
8.7
10.3
9.4
9.0
8.6
7.2
7.1
8.2
9.1

I
1
1
\
1
1
1
1
1
1
1
|

10.5
11.7
12.4
12.5
11.5
11.5
11.4
11.8
13.2
14.2
14.2

6.7
8.5
11.3
13.1
13.0
14.0
14.4
14.9
14.4
14.5
15.1

1
I
1
|
|
1
|
|
|
|
1

1977-JAN...
—FE B * . .
—MAR . . .
—APR...
-MAY...
-JUN...
-JUL...
-AUG...
-SEP...
—OC T . . .
-NOV...
—DEC...

11.7
10.4
2.8
2.2
10.0
10.1
10.9
10.8
10.8
9.3
9.7
10.7

1
1
I
1
I
1
I
1
1
1
1
1

7.0
5.1
-0.1
-0.7
4.6
4.0
5.3
4.6
4.4
3.4
4.5
5.9

1
1
I
1
I
1
1
1
1
1
1
1
|

14.5
13.5
4.4
3.9
13.0
13.4
13.9
14.0
14.2
12.4
12.5
13.4

16.1
14.9
7.2
6.5
15.0
17.0
17.2
17.7
17.7
18.0
18.5
18.5

1
|
|
1
I
|
|
|
|
I
|
|
|

0.592
0.596
0.594
0.596
0.616
0.628
0.632
0.643
0.644
0.646
0.642
0.636

1
1
1
1
1
1
1
1
1
1
1

11.9
11.7
11.0
11.1
10.8
10.7
10.9
11.2
11.5
11.4
11.3

|
|
I
1
|
|
|
I
|
|
|

1

11.0

|

1978-JAN...
-FEB...
-MAR...
—APR...

11.1
10.8
11.9
12.9

1
1
1
I

8.5
7.9
8.9
11.4

1
1
1
I

12.5
12.3
13.6
13.7

16.9
16.7
17.3
14.4

|
|
|
|

0.623
0.628
0.622
0.604

1
10.5
1
10.9
1
11.3
|*********

15.7
|
|
16.1
|
15.2
|*********

DATA FOR THE S I X T H D I S T R I C T ARE FOR MEMBER BANKS AT WHICH A G R I C U L T U R A L LOANS C O M P R I S E 1 5 PER C E N T OR MORE O F T O T A L L O A N S .
DATA FOR T E X A S ARE FOR A SAMPLE O F MEMBER BANKS AT WHICH A G R I C U L T U R A L LOANS C O M P R I S E 2 5 P E R C E N T OR MORE OF TOTAL L O A N S .
FOR BOTH D I S T R I C T S s LOANS ARE G R O S S LOANS L E S S F E D E R A L FUNDS S O L D AND S E C U R I T I E S P U R C H A S E D UNDER AGRE r MENTS TO R E S E L L .




AGRICULTURAL

UPDATED

100

FINANCE

TABLES

FOR

AGRICULTURE

OUTSTANDING
(DATA FOR

110

TOTAL

111.1
111.2
111.3
111.4
111.5

120

200

FARM

201.1A

DATABOOK—ANNUAL

JANUARY 1 , 1 9 7 0 - D A T E
1 9 7 8 ARE U S D A E S T I M A T E S

AS

SERIES.

OF

APRIL

NOVEMBER

1978

1977

1978 >

DEBT

ESTATE

OPERATIONS

SUMMARY O F




CCC
CCC

29
29
29
29

LOANS
LOANS

30
30
30
30

YEAR

DEBT

AMOUNTS
CHANGE D U R I N G YEAR
P E R C E N T A G E CHANGE D U R I N G
PERCENTAGE D I S T R I B U T I O N ,
PERCENTAGE D I S T R I B U T I O N ,

LENDING

YEAR
INCLUDING
EXCLUDING

DEBT

AMOUNTS
CHANGE D U R I N G YEAR
P E R C E N T A G E CHANGE D U R I N G
PERCENTAGE D I S T R I B U T I O N

NON-REAL-ESTATE
131.1
131.2
131.3
131.4
131.5

FARM D E B T ,
JANUARY 1 ,

APRIL

SERIES

FTMANF.F

AMOUNTS
CHANGE D U R I N G YEAR
P E R C E N T A G E CHANGE D U R I N G
PERCENTAGE D I S T R I B U T I O N ,
PERCENTAGE D I S T R I B U T I O N ,

REAL

121.1
121.2
121.3
121.4

DATABOOK—MONTHLY

YEAR
INCLUDING
EXCLUDING

AND E X P E R I E N C E

PERCENTAGE

CHANGES

IN

CCC
CCC

LOANS
LOANS

O F NONBANK

FARM

31
31
31
31
31

INSTITUTIONS

LENDING

OPERATIONS

32

OUTSTANDING

FARM D E B T ,

DEBT

DEBT I N C L U D I N G
CCC L O A N S
YEAR

T I M

197 0
197 1
197 2
197 3
1974
197 5
197 6
197 7
197 8

TABLE 1 1 1 . 2
197 0
197 1
197 2
197 3
1 9 74
197 5
197 6
197 7

53026.
54484.
59114.
65345.
74137.
81833.
90832.
102313.
119691.

2676.
1876.
2262.
1793.
750.
319.
358.
1012.
4489«

50350.
52608.
56852.
63552.
73387.
81514.
90474.
101301.
115202.

13875.
14874.
16717.
19107.
22625.
24204.
26456.
30064.
33500.

TABLE 1 1 1 . 4

CCC

LOANS
FARMERS
HOME
ADMINISTRATIQN

INDIVIDUALS
AND
OTHERS

2257.
4244.
6700.
9835.
8127.
8960.
10827.
13901.

999.
1843.
2390.
3518.
1579.
2252.
3608.
3436.

LIFE
INSURANCE
COMPANIES

11384.
12660.
14195.
15909.
19062.
23296.
27073.
31055.
35350.

5734.
5610.
5564.
5643.
5965.
6297.
6726.
7400.
8700.

3065.
3235.
3389.
3616.
3891.
4259.
5141.
5566.
7112.

16293,
16228,
16987
19277
21845
23458
25078
27216
30540

-124.
-46.
79.
322.
333.
429.
674.
1300.

170.
154.
227.
275.
369.
882.
424.
1546.

—65
759,
2290,
2568
1613
1621
2138
3324

5.6
4.8
6.7
7.6
9.5
20.7
8.3
27.8

- 0 . 4
4.7
13.5
13.3
7.4
6.9
8.5

AMOUNTS IN MILLIONS OF DOLLARS

I
1
I
I
1
1
I
I
I
I

L

CHANGE DURING YEAR

I
1
1
I
I
I
I
I
I

1458.
4630.
6231.
8792.
7695.
9000.
11481.
17378.

-800.

386.

-469.
-1043.
-432.
39.
654.
3477.

I
I
I
I
I
1
I
I




4.5

2.7
8.5
10.5
13.5
10.4

- 2 9 . 9
20.6
-20.7
-58.2
- 5 7 . 6
12.3

182.8

11.1
11.0
12.0

17.0

343.7

13.7

11.0
12.6

_1_

.1
1970
.1
1971
,I
1972
»|
1973
1974.....
. I
1975
1 9 7 6 . . . . , ,|
. I
1977
, 1
1978

1276.
1534.
1714.
3153.
4234.
3778.
3982.
4295.

PERCENTAGE CHANGE DURING YEAR

TABLE 1 1 1 . 3 \
197 0
197 1
197 2
197 3
197 4
197 5
197 6
197 7

EXCLUDING

1

COOPERATIVE
FARM
CREDIT
SYSTEM

BANKS

CCC
LOANS

TOTAL

TOTAL
TABLE

JANUARY

8.1

11.8
15.5

"TABLE 11175
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

5.
3 .
3.
2.
1.
0 .
0 .
1.
3.

0
4
8
7
0
4
4
0
8

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

7.2
12.4
14.3
18.4
7.0
9.3
13.6
11.4

11.2
12.1
12.1
19.8
22.2
16.2
14.7
13.8

-2.2
- 0 . 8
1.4
5.7
5.6
6.8
10.0
17.6

12.2

pERCENTAGE DISTRIBUTION."
27.6
28.3
29.4
30.1
30.8
29.7
29.2
29.7
29.1

22.6
24.1
25.0
25.0
26.0
28.6
29.9
30.7
30.7

11.4
10.7
9.8
8.9
8.1
7.7
7.4
7.3
7.6

6.1
6.1
6.0
5.7
5.3
5.2
5.7
5.5
6.2

32.4
30.8
29.9
30.3
29.8

28.8

27.7
26.9
26.5

29

OUTSTANDING

1
1

COOPERATIVE

!

YEAR

TOTAL

|

BANKS

TOTAL

1
1

i

121 ,1 1

TABLE

FARM

REAL

FARM

ESTATE

CREDIT

DEBT,

JANUARY

SYSTEM

30

1

|

1
LIFE
|
FARMERS
1
FEDERAL
J O I N T - | INSURANCE I
HOME
FARM
STOCK
| COMPANIES! A D M I N I S MORTGAGE
LAND
|
TRATION
1
CORPORATION
BANKS
1
1
A M O U N T S IN M I L L I O N S O F D O L L A R S

FEDERAL
LAND
BANKS

1
1 INDIVIDUALS
1
AND
OTHERS
1
1
1

1
1
1
1
1

9
9
9
9
9

7
7
7
7
7

0
1
2
3
4

.
.
.
.
.

.
.
.
.
.

.
. ..I
. -.1
.
. • •1
1

29183.
30346.
32208.
35758.
41253.

3545.
3772.
4218.
4792.
5458.

6671.
7145.
7880.
9050.
10901.

6671.
7145.
7880.
9050.
10901.

******
******
******
******
******

******
******
******
******
******

5734.
5610.
5564.
5643.
5965.

2280
2440
2618
2835
3013

.
.
.
.
.

10953.
11378.
11927.
13437.
15915.

1
1
1
1

9
9
9
9

7
7
7
7

5
6
7
8

.
.
.
.

.
.
.
.

.
.
.
.

4
5
5
6

.
.
.
.

5966.
6296.
6781.
7800.

13402»
15950 ®
18455.
21466.

13402 .
15950.
18455.
21466.

******
******
******
******

******
******
******
******

6
6
7
8

321
336
368
397

.
.
.
.

17408.
18728.
20266.
22290.

1970...
1 9 7 1 . . . ..I
1972..*..|
1973..
1974...
!

1163.
1862.
3550.
5495.
5036.

227.
446.
574.
666.
508.

474.
734.
1170.
1851.
2501.

474.
734.
1170.
1851.
2501.

******
******
******
******
******

******
******
******
******
******

-124.
—46 .
79.
322.
333.

160.
178.
217.
178.
201.

425.
549.
1510.
2478.
1493.

1975...
1976...
1977...

4781.
5521.
7636.

330.
485.
1019.

2547.
2505.
3011.

2547.
2505.
3011.

******
******
******

******
******
******

429.
674.
1300.

154.
320.
282.

1321.
1538.
2024.

I

TABLE

6
1
6
4

2
0
5
2

8
6
9
2

8
9
0
6

I
121 ,2 |

CHANGE

I

DURING

2
7
4
7

9
2
0
0

7
6
0
0

.
.
.
.

5
9
8
0

YEAR

1
121 .3 [
;
1970...
1971...
1972..,
1973..„
1974...

TABLE

PERCENTAGE

DURING

YEAR

4.0
6.1
11.0
15.4
12.2

6.4
11.8
13.6
13.9
9.3

7.1
10.3
14.9
20.5
22.9

7.1
10.3
14.9
20.5
22.9

******
******
******
******
******

******
******
******
******
******

-2.2
—0.8
1.4
5.7
5.6

7
7
8
6
6

0
3
3
3
7

3.9
4.8
12.7
18.4
9.4

10.3
10.8
13.5

I
1975...
1976.. ,
1 9 7 7 . • «.
TABLE

CHANGE

5.5
7.7
15.0

19.0
15.7
16.3

19.0
15.7
16.3

******
******
******

******
******
******

6.8
10.0
17.6

4.8
9.5
7.6

7.6
8.2
10.0

— L
121 .4 1
1

PE

1970...
1971...
1972...
3973.,. * * I
1974...

100.0
100.0
100.0
100.0
100.0

12.1
12.4
13.1
13*4
13.2

24.5

1975...
1976...
19 7 7 . . .
1978...

100.0
100.0
100.0
100.0

1
1
1
1

|

I




2
2
2
2

.
.
.
.

9
3
0
1

22.9
23.5

RCENTAGE DISTRIBUTION

25.3
26.4

2J.9
23.5
24.5
25*3
26.4

*****
*****
*****
*****

2
3
3
3

29.0
31.2
32.6
33.4

*****
*****

9
1
2
3

.
.
.
.

0
2
6
4

.
.
.
.
.

*****

* * * *

*

*

*****
*****
*****
*****
*****

19.6
18.5
17.3
15.8
14.5

7
8
8
7
7

.
.
.
.
.

8
0
1
9
3

3
3
3
3
3

*****
*****
*****
*****

13.6
13.2
13.1
13.5

6
6
6
6

.
.
.
.

9
6
5
2

37.6

7
7
7
7
8

.
.
.
.
.

5
5
0
6
6

36.7
35.8
34.7

OUTSTANDING

DEBT INCLUDING
CCC LOANS

1

|

1
1
1
1
1
1

YEAR

TABLE 131 .1

TOTAL

CCC
LOANS

9
9
9
9
9
9
9
9
9

7
7
7
7
7
7
7
7
7

TABLE 131 . 2
1
1
1
1
1
1
1
1

9
9
9
9
9
9
9
9

7
7
7
7
7
7
7
7

0
1
2
3
4
5
6
7

23843.
24138.
26906.
29587.
32884.
35544.
39763.
45723.
55465.

2676.
1876.
2262.
1793.
750.
319.
358.
1012.
4489.

1
1
- 8 0 0 .
386.
—469 •
-1043.
- 4 3 2 .
39.
654.
3477.

1

TABLE 131 . 3
1
1
1
1
1
1
1
1

9
9
9
9
9
9
9
9

7
7
7
7
7
7
7
7

0
1
2
3
4
5
6
7

.
.
.
.
.
.
.
.

J
1.2
11.5
10.0
11.1
8.1
11.9
15.0
21.3

.
.
. . . . 1
. . . . 1
.
.
.
.

TABLE 131

- 2 9 . 9
20.6
- 2 0 . 7
- 5 8 . 2
- 5 7 . 6
12.3
182.8
343.7

1970..
1971..
1973..
1974..
1975..
1976..
1977.. . . . 1
1978..

TOTAL

BANKS

I
I
I
I
I
1
|
1
I
1

I
1
I

1
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

1



11.2
7.8
8 . 4
6 . 1
2 . 3
0 . 9
0 . 9
2.2
8 . 1

E
1 XCLUDING

COOPERATIVE

JANUARY

CCC

I
I
I
I
I
I
I
I
1
1
I
1
I
I
1
I
I
I
1

1
1
I
1
1
1

1
1
1
1

FARM

1

LOANS

CREDIT

PRODUCTION
TOTAL

1
I

CREDIT
ASSOCIATIONS

SYSTEM

|
1
FARMERS
HOME
FEDERAL |
INTERMEDI-I ADMINISTRATION
ATE C R E D I T |
9ANKS

AMOUNTS IN MILLIONS OF DOLLARS

21168.
22262.
24644.
27794.
32134.
35226.
39406.
44711.
50976.

10330.
11102.
12498.
14315.
17167.
18238.
20160.
23283.
25700.

4713.
5515.
6315.
6859.
8160.
9893.
11124.
12601.
13884.

1

1
{INDIVIDUALS
1
AND
I
OTHERS
1
1

.
.
.
.
.
.
.
.
.

785.
795.
771.
780.
877.
1044.
1772.
1877.
3142.

5
4
5
5
5
6
6
6
8

2.
17.
14.
80.
42.
-24.
18.
8 .

4495.
5295.
6078.
6607.
7829.
9519.
10773.
12233.
13508.

10.
- 2 4 .
10.
97.
167.
728.
105.
1265.

- 4 9 0 .
210.
780.
9 0 .
120.
300.
600.
1300.

1.2
- 3 . 0
1.2
12.4
19.1
69.7
5.9
67.4

- 9 . 2
4 . 3
15.4
1.5
2.0
5.0
9.4
18.7

3.7
3.6
3.1
2.8
2.7
3.0
4.5
4.2
6.2

25.2
21.8
20.5
21.0
18.5
17.2
16.1
15.5
16.2

2
2
2
2
3
3
3
3
3

1
2
3
5
3
7
5
6
7

8
0
7
1
1
4
0
8
6

3
8
0
8
9
0
3
9
2

4
5
6
4
3
5
5
5
5

0.
0.
0.
0.
0.
0.
0.
0.
0.

CHANGE DURING YEAR
1094.
2383.
3150.
4340.
3092.
4180.
5305.
6265.

772.
1397.
1817.
2852.
1071.
1922.
3123.
2417.

5.2
10.7
12.8
15.6
9.6
11.9
13.5
14.0

7.5
12.6
14.5
19.9
6.2
10.5
15.5
10.4

802.
800.
544.
1302.
1733.
1230.
1477.
1283.

800.
783.
530.
1221.
1691.
1254.
1460.
1275.

PERCENTAGE CHANGE DURING YEAR

1
f TABLE 131 . 5

1
.4

|

1
294.
2769.
2681.
3297.
2660.
4219.
5959.
9742.

..
..
.. . . . 1
.. . . . 1
..
..
..
..

1
1
I

!
1

|

0..
1.. . . . 1
2.. . . . 1
3..
4..
5..
6..
7..
8..

DEBT

DEBT,

1

I
1

1
1
1
1
1
1
1
1
1
1

FARM N O N - R E A L - E S T A T E

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

17.0
14.5
8.6
19.0
21.2
12.4
13.3
10.2

17.8
14.8
8.7
18.5
21.6
13.2
13.5
10.4

1.0
7.7
6.0
31.9
12.8
—6 . 3
5.0
2.3

PERCENTAGE DISTRIBUTION
4
4
5
5
5
5
5
5
5

8
9
0
1
3
1
1
2
0

.
.
.
.
.
.
.
.
.

8
9
7
5
4
8
2
1
4

22.3
24.8
25.6
24.7
25.4
28.1
28.2
28.2
27.2

2
2
2
2
2
2
2
2
2

1
3
4
3
4
7
7
7
6

.
.
.
.
.
.
.
.
.

2
8
7
8
4
0
3
4
5

1.0
1.0
1.0
0.9
1.0
1.1
0.9
0 . 8
0.7

TABLE

32

201.1A
SUMMARY O F
PRODUCTION CREDIT
CHANGE
D U R I N G YEAR
IN
OUT S T A N D I N G
AMOUNT

****
****

****
****

****
****
****
*•**
****

****
****
****
****
4.

9.

12.
14.

8.

13.
17.
17.
9.
17.

10.
12.
10.

24.
-0.
-21.
7.
15.

23.
3.
5.
22.
—3 .

****
****
****
****
****

****
****
****
****
****

****
****
****
****
****

1
1
|
|
|
j

6.
6.
7.
12.
14.

-7.
19.
12.
40.
21.

—10 .
19.
6.
22.
13.

****
****
****
****
****

25.
14.
- 1 .
-10.
9.

****
****
****
****
****

****

1
|

3e
3.
11.
3.

I
|
1
|

12.
9.
6.
4.
- 1 .

10 4
-13.
—16.
-8.
-30.

18.
-8.
-12.
6.
6.

7.
10.
15.
20.
23.

****
53.
44.
42.
24.

-12.
41.
46.
47.
27.

****
123.
36.
20.
13.

-0.
25.
25.
26.
6.

1
|
|
1
|
|

- 2 .
- 1 .
1.
6.
6.

—42 .
53.
41.
43.
- 1 .

-23.
19.
15.
9.
- 4 .

19.
16.
16.

7.
9.
23.

4.
6.
20.

24.
20.
35.

11.
29.
25.

I
1
|

7.
10.
19.

5.
39.
67.

-7.
31.
21.

12.

8.
11.
7.
6.
9.
15.
9.
14.
11.

15.
16.
13.
9.
10.

16.
14.
18.
23.
5.
15.
15.
12.

8.

22.
11.

17.
14.

16.
12.

18.

25.

31.
9.

13.

13.
14.

11.

8.

14.

15.

20.
12.

11.

8.

19.

18.
10.

12.

13.

FOR Y E A R S B E F O R E 1 9 7 1 , DATA SHOWN FOR L I F E I N S U R A N C E
S T A R T I N G I N 1 9 7 1 , THE DATA SHOWN COVER FARM M O R T G A G E




11.
9.
5.
3.
6.

****
****
****
****
****

8.
18.

*

1
;
|
|
|
|

****
****
****
****
****

7.

10.

****
****
****
***+
****

****

12.

LSIIIONS iSITIQNS

****
****
****
****
****

****

13.

AMOUNT

0.
4.

****

12.

CHANGE
|
CHANGE FROM
D U R I N G Y E A R | P R E V I O U S YEAR
IN
|.
OUTSTANDING|ACQUI- I D I S P O -

0.
-1.

****
****
****
****

14.

COMPANIES*

11.
9.

****
****
****
****
****

9.

INSURANCE

****
****

****
****
****
****
****

12.

LIFE

1
|
;

****
****
****
****
****

11.

EXPERIENCE

CHANGE
|
CHANGE FROM P R E V I O U S YEAR
DURING YEAR|
IN
I L O A N S | NEW
| REFINANCING!
OUTSTANDING|CLOSED|MONEY |OF FED. LAND|REPAYMENTS
AMOUNT
1
1 LOANED I BANK L O A N S 1

****
****
****
****
***•

10.

AND

BANKS

****
****
****
****
****

12.
16.

10.

LAND

****
****

20.

10.

FEDERAL

OPERATIONS

****
****

17.

21.

LENDING

****
****

1.

11.

FARM

****
***•

13.

15.

IN

****
****

4.

12.

CHANGES

****
****

18.
10.

18.

PERCENTAGE

I
CHANGE FROM P R E V I O U S YEAR
I
I L O A N S I NEW I
I
I MADE | L O A N S I R E N E W A L S I C O L L E C T I O N S
I
I
I
|

****
****

11.

ANNUAL

ASSOCIATIONS

C U M P A N I E S I N C L U D E A L L FARM MORTGAGE L O A N S ;
LOANS I N THE U N I T E D S T A T E S O N L Y .

B O A R D OF G O V E R N O R S

FEDERAL RESERVE SYSTEM

Office Correspondence
Tn Recipients of Monthly Databook
TTmtn




Marian Sa.yre

Date_ikm_
Snhfot; Corrected Tables for the
Federal Land Bank Section

After getting our April Databook back from the printshop an error
was detected in the March 1978 data for the Federal Land Bank tables
222.1 and 223.1. The attached supplement should replace the corresponding pages in the April Databook. The l a t t e r r e f l e c t s the summary figures
of the monthly FLB data rather than the agricultural loan figures due
to a s l i g h t oversight at Farm Credit in compiling the release from which
we take our data.

TABLE

222.1
F E D E R A L LAND BAI
LOANS CLOSED
AMOUNT
MILLIONS
OF
DOLLARS

|
I
|

NUMBER

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

|

|
|
|

|
|
|
|
|
|
|
|
|
|
|
|

13.8
14.3
8.0
13.0
4.6
7.7
18.3
2.0
7.3
5.7
11.4
15.6

|
1
1
|
|
|
|
|
|
|
|
|

2.5
2.1
3.2
2.6
2.1
2.4
2.1
1.8
1.8
1.7
1.9
2.4

|
|
|
|
I
|
I
|
|
|
|
|
1

263.8
337.4
478.0
432.2
449.2
502.8
466.1
442.0
407.4
381.7
330.2
309.2

|
|
|
I
|
|
|
|
|
|
|
|

18.0
23.8
28.7
19.4
42.5
24.9
34.1
25.6
17.5
14.4
19.5
2.6

4930.
4719.
6801.
5627.
5806.
5868.
4784.
4808.
4457.
4361.
4846 •
5003.

2.4
5.6
6.6
4.6
19.0
13.4
7.3
10.1
7.0
6.4
8.5
-0.9

940 58.
91013.
99833.
92640.
89273.
862 3 3 .
102888.
83792.
85203.
82240.
86442.
89729.

|
1
|
|
|
|
|
|
|
|
|
|

15.3
17.2
20.7
14.1
19.8
10.2
24.9
14.1
9.8
7.5
10.1
3.5

|
|
|
|
|
|
|
|
|
|
|
I

2.5
2.3
3.6
2.7
2.6
2.5
2.4
2.0
1.8
1.7
2.0
2.1

|
I
|
|
|
|
|
|
|
|
|
I
j

223.4
367.1
475.2
475.5
457.7
403.8
374.2
435.2
516.3
389.3
340.3
301.0

|
|

8.4
0.6
-8.8

4919.
449 5.
5899.

-0.2
—4.7
-13.3

102187.
96334.
104921.

|
|
|

8.6
5.8
5.1

1
|
|

2.3
2.0
2.8

|
|
|

248.9
360.2
406.3

0.6

t

-MAR...|
-APR...|
-MAY... I
—JUN... I
- J U L . . . |
—AUG...|
-SEP...I
-OCT...|
-NOV... I
-DEC . . . I

463.7
429.5
679.0
521.3
518.3
506.0
492.2
402.9
379.8
358.6
418.9
448.9

|
|
|
I
|
|
|
|
|
|
|
|

6.0
-7.4
5b.1
-23.2
-0.6
-2.4
-2.7
-16.2
-5.7
-5.6
16.8
7.2

1978—JAN...|
—FEB...j
-MAR . . . I

502.7
433.0
618.9

|
|
|

12.0
-13.9
42.9

-FEB...I

OUTSTANDING

LOANS




AT

END O F

REPAYMENTS

81586.
77645.
02736.
81166.
74546.
76265.
82357.
73457.
77572.
76534.
78511.
86699.

-3.0
11.8
24.8

1977-JAN...|

LOANS
OUTSTANDING*

PERCENTAGE
CHANGE
FROM L A S T
YEAR

OF

-13.3
-12.6
11.2
-2.6
-8.3
0.9
—6 . 2
9.0
-3.0
-7.1
20.0
1 .0

4.8
-11.7
52.1
-17.3
-16.7
11.4
-9.4
-12.6

-MAY...I

PERCENTAGE

4816.
4467.
6377.
5377.
4879.
5175.
4457.
4366.
4167.
4098.
4465.
5047.

|
|
I
|
|
I
|
|
1
|
|
|

—JUN... I
- J U L . . . |
-AUG...I
—SEP•• • I
-OCT... I
-NOV . . . I
—DEC . . . 1

•

YEAR

PERCENTAGI
CHANGE
FROM LAS1
YEAR

AS

SIZE

- 1 . 3
-0.1
20.1
10.0
-4.1
8.7
10.9
11.2
4.1
-1.9
33.7
16.7

392.9
346.8
527.6
436.4
363.7
405.0
367.1
320.7
323.2
313.6
350.6
437.6

1976-JAN...I
-FEB...I
-MAR . . . I
-APR...|

THOUSANDS

AVERAGE

|
|
I
|
|
|
|
|

I

j
I

PRECEDING

MONTH.

TABLE

222.3

FEDERAL LAND BANKS
LOANS C L O S E D
TWELVE-MONTH MOVING TOTAL

MILLIONS
OF
DOLLARS

1
|
|

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

|

YEAR

1
i
i
PERCENTAGE!
CHANGE
|
THOUSANDS
FROM L A S T !
YEAR
|

AVERAGE

NUMBER

AMOUNT

DOLLARS

SIZE

I

I PERCENTAGE|
I
CHANGE
|
I FROM L A S T I
I
YEAR
|

AS

PERCENTAGE

LOANS
|
OUT|
STANDING*!
1

1976-JAN.••!
—FEB•••|
—MAR e • • 1
—APR. . . !
-MAY...I
—JUN... 1
-JUL...1
-AUG...I
—SEP * * . |
-OCT...I
-NOV . . . I
-DEC...I

|
|
|
1
|
I
|
|
|
I
|
|

-0.1
-0.0
2.1
0.9
-0.4
0.8
0.8
0.7
0.3
-0.1
2.0
1.4

I
|
1
|
|
|
|
I
|
I
|
I
1

5.2
2.8
2.6
2.2
1.5
1.4
3.3
5.0
5.2
5.0
8.2
8.7

57.8
57.2
57.8
57.7
57.2
57.3
57.0
57.3
57.2
56.9
57.6
57.7

-7.9
-9.8
-9.2
-9.1
-9.2
-8.8
-8.4
—5.3
-4.8
-4.5
—1.6
-1.5

|
1
1
1
|
|
|
|
|
1
1
|
j

728 66.
737 0 1 .
74412.
75288.
75600•
76105.
77136.
772 1 2 .
77608.
77932.
78459.
79480.

1
1
1
1
1
1
1
1
1
1
1
1

* 14.3
14.1
12.9
12.5
11.7
11.2
12.7
10.9
10.5
10.0
9.9
10.3

I
|
1
|
1
|
|
|
|
|
|
|

28.2
27.8
28.0
27.9
27.4
27.3
27.1
27.0
26.7
26.4
26.6
26.6

1977—JAN...I
-FEB...I
-MAR. . . |
-APR... |
-MAY . . . |
—JUN... I
-JUL...|
-AUG...1
—SEP...I
-OCT...!
-NOV...I
-DEC...1

4656.1
4738.7
4890.1
4975.0
5129.6
5230.6
5355.7
5437.9
5494.4
5539.4
5607.7
5619.1

|
|
|
|
|
|
|
I
|
|
I
|

1.5
1.8
3.2
1.7
3.1
2.0
2.4
1.5
1.0
0.8
1.2
0.2

57.8
58.1
58.5
58.7
59.7
60.4
60.7
61 .1
61 .4
61.7
62.1
62.0

-0.0
1.5
1.1
1.8
4.2
5.4
6.5
6.6
7.3
8.4
7.7
7.5

1
|
|
1
|
|
|
1
|
|
!
1
1

80548.
81622.
63619.
84707.
85983.
86669.
882 6 4 .
88970.
894 70.
89819.
90369.
90616.

1
1
1
1
1
1
1
1
1
1
1
1

10.5
10.7
12.4
12.5
13.7
13.9
14.4
15.2
15.3
15.3
15.2
14.0

|
|
|
|
I
|
|
|
I
|
I
|

26.7
26.9
27.4
27.5
28.0
28.2
28.6
28.6
28.6
28.5
28.4
28.2

5658.0
5661.6
5601.5

1
|
I

0.7
0.1
-1.1

I
|
I
|
I
|
|
|
|
|
|
|
I
|
1
I

10.5
12.4
13.7
14.6
18.6
20.0
21.9
22.8
23.7
24.9
24.0
22.5

1978-JAN...|
—FEB...|
-MAR...|
*

4214.4
4214.2
4302.4
4342.1
4326.7
4359.2
4395.3
4427.6
4440.2
4434.2
4522.5
4585.3

21.5
19.5
14.5

62.0
61.6
60.9

7.3
6.4
4.1

1
1
|

91260.
91648.
92020.

1
I
1

13.3
12.3
10.0

I
I
|

28.0
27.7
27.1

AVERAGE O U T S T A N D I N G




LOANS D U R I N G

THE P R E C E D I N G

12 MONTHS

(AVERAGE OF

END-OF-MONTH D A T A ) .

OF

REPAYMENTS

1
|
I
I
|
I
|
|
|
|
|
|
j
|
|
|
|
I
1
|
|
|
|
I
I
j

451.0
433.0
423.7
412.5
404.1
399.7
397.5
393.6
389.1
384.5
383.6
386.9

|
|
|

384.4
383.8
377.3

374.3
376.7
378.9
382.9
385.3
380.1
374.8
375.3
380.7
381.2
381.5
380.3

•

•

#

#

•

i

14
TABLE

2 2 3 . 1
FEDERAL LAND BANKS
NEW M O N E Y L O A N E D
P E R C E N T A G E CHANGE
FROM P R E V I O U S

MILLIONS
OF
DOLLARS

MONTH
1976—JAN..

YEAR

4 . 2
- 1 3 . 1

3 2 5 . 0

-FEB..
-MAR.,
—APR • «

|

2 8 2 . 5

5 6 . 0

4 4 0 . 7
3 4 7 . 3

AS

PERCENTAGE

LOANS O U T STANDING*

-2.8
—1 . 8

2.0

19.9

2 . 7

1.7

2.1

-21.2

6.7

3
2
3
1

- 1 5 . 3

10.2

- 6 .5
5.9

—8 . 0
- 1 4 . 1

10.4
6 . 3

1.9
1 . 7
1 . 5

- S E P . .

2 5 5 . 4

- 0 . 3

2.7

2 4 7 . 6
2 7 8 . 7
3 4 5 . 5

- 3 . 0

- 6 .2

1.4

-OCT..
-NOV.,
-DEC.,

2 3 . 9

35.5
10.7

1 . 4
1 . 5
1.9

1977—JAN.,

3 7 6 . 1
3 4 6 . 2
5 5 1 . 9

8.9

15.7

—8.0

2.0

2 2 . 5
25.2

1 . 9
2 . 9

-MAY..
-JUN..
—JUL . ,
-AUG..

-FEB..
—MAR . ,
-APR.,
-MAY.,

2
3
2
2

9
2
9
5

4
4
8
6

.
.
.
.

12.6

59.4

—JUL..
-AUG.«
-SEP.<

3 8 2 . 1
3 0 9 . 8
2 8 9 . 3

- 4 . 2
- 1 8 . 9

—OCT . ,
-NOV..
-DEC.,

2 7 5 . 4
3 2 4 . 3
3 5 5 . 8

- 4 . 8
17.7

1978—JAN.,
-FEB.,

4 0 9 . 3
3 4 3 . 7

-16.0

-MAR..
*

-26.8

-JUN..

4 0 3 . 9
4 0 5 . 0
3 9 8 . 7

4 9 0 . 7

4 2 . 8

OUTSTANDING

LOANS




AT

0 . 3

-1.6
— .6
6
9 . 7
1 5 . 0

END

OF

PRECEDING

1 . 7

16.3
3 7 . 6
23.0

2.1
2.1
2.0

13.3

1.9
1 . 5
1 . 4

16.3
3 . 0

1 . 3
1 .5
1 . 7

8.8

1.9

28.1
21.0

11.2

- 0 . 7

-11.1
MONTH.

1.6
2.2

OF

TABLE

223.3
F E D E R A L LAND BANKS
NEW MONEY L O A N E D
TWELVE-MONTH MOVING TOTAL
MILLIONS
OF
DOLLARS

1
I
1

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

YEAR

|

|

AS

PERCENTAGE

OF

LOANS
CLOSED

| L O A N S OUT—|
I STANDING*!

1976—JAN••• I
—FE B • • • I
—MAR•••i
—APR . . . |
-MAY...I
—JUN•..I
—JUL••.|
—AUG . . • 1
-SEP• • • 1
-OCT...1
—NOV... 1
-DEC...!

3468.2
3463.2
3536.2
3557.9
3537.3
3555.5
3583.6
3598.7
3605.4
3589.1
3662.1
3695.6

|
|
|
|
|
|
I
|
|
|
I
|

- 0 . 3
- 0 . 1
2.1
0.6
- 0 . 6
0.5
0.8
0.4
0.2
- 0 . 5
2.0
0.9

|
|
1
|
|
|
|
|
|
|
1
|
1

2.4
0.1
0.1
- 0 . 2
- 1 . 1
- 1 . 1
0.9
2.5
3.0
2.6
6.3
6.3

1
1
1
1
1
|
I
1
1
I
I
1
|

23.2
22.8
23.0
22.6
22.4
22.2
22.1
21.9
21.7
21.3
21.5
21.5

|
|
|
I
|
|
I
|
|
I
|
|

82.3
82.2
82.2
81.9
81.8
81.6
81.5
81.3
81.2
80.9
81.0
80.6

1977-JAN...1

3746.6
3810.3
3921.5
3978.0
4088.7
4163.2
4247.1
4300.8
4334.7
4362.5
4408.0
4418.3

|
I
|
|
|
|
1
|
|
|
|
|

1.4
1.7
2.9
1.4
2.8
1.8
2.0
1.3
0.8
0.6
1.0
0.2

|
1
|
|
1
I
|
|
I
|
|
|
I

8.0
10.0
10.9
11.8
15.6
17.1
18.5
19.5
20.2
21.5
20.4
19.6

I
I
1
1
1
I
1
1
I
I
I

1

21.5
21.6
22.0
22.0
22.3
22.5
22.6
22.6
22.5
22.4
22.4
22.1

|
1
|
|
1
|
I
|
1
|
|

80.5
80.4
80.2
80.0
79.7
79.6
79.3
79.1
78.9
78.8
78.6
78.6

4451.5
4449.1
4387.9

|
|
|

0.8
- 0 . 1
-1.4

|
|
|

18.8
16.8
11.9

I
I
1

22.0
21.8
21.2

-FEB...I
—MAR.•.1
-APR... I
—MAY . . . 1
-JUN...I
—JUL..•1
-AUG...I
- S E P . . . I
-OC T . . . I

-NOV...I
—DEC• • . 1
1978—JAN...|
—FEB . • . I
—MAR.•.I
*

AVERAGE

OUTSTANDING




LOANS

DURING

THE

PRECEDING

12

|

I
|
I
|
|

MONTHS

78.7
78.6
78.3
(AVERAGE

OF

END-OF-MONTH

DATA).

TABLE

224.1

FEDERAL
REFINANCING
REFINANCING
MILLIONS
OF
DOLLARS

1
1
1

OF

FEDERAL

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

YEAR

|

LAND
|

BANK
AS

LAND B A N K S
AND R E P A Y M E N T S
REPAYMENTS

LOANS

PERCENTAGE

OF

LOANS
CLOSED

|LOANS O U T - |
I STANDING*!

17.3
18.5
16.5
20.4
19.1
20.0
18.7
20.2
21.0
21.0
20.5
21.1

1976-JAN...|
—FEB..•I
•^MAR . . . 1
-APR...I
-MAY...I
-r J U N . . . 1
—JUL...|
—AUG...1
—SEP...1
-OCT...I
-NOV...!
—DEC...1

|
I
|
1
|
I
|
I
|
I
|
1

8.0
- 5 . 2
35.2
2.5
- 2 2 . 1
16.5
- 1 4 . 9
- 6 . 1
5.0
-2.7
8.8
28.3

|
I
I
I
1
|
|
1
1
1
1
1
|

6.9
8.0
21.3
25.3
8.0
21.5
13.3
36.4
9.5
18.5
27.2
46.6

!
|

0.42
0.40

|
|

1
1
1
I
I
1
I
I
1
I
j

0.53
0.53
0.41
0.47
0.40
0.37
0.38
0.37
0.40
0.50

|
|
!
I
|
I
1
1
I
1
|

1977-JAN...1
- F E B . . . |
—MA R . . . |
—APR.. . |
-MAY...I
—JUN..el
-JUL..e|
—AUG... |
- S E P . . . i
-OCT...I
-NOV...I
-DEC•.. 1

87.6
83.3
127.1
117.4
113.3
107.3
110.1
93.1
90.5
83.2
94.6
93.1

|
|
I
1
|
1
I
1
|
|
|
|

- 4 . 9
- 4 . 9
52.6
- 7 . 6
- 3 . 5
- 5 . 3
2.6
- 1 5 . 4
- 2 . 8
- 8 . 0
13.7
- 1 . 5

|
|
I
|
|
I
I
|
t
I
I
|
|

29.1
29.5
46.2
31.8
63.2
32.8
60.0
44.1
33.3
26.1
31.7
1.1

1
|
|
|
I
1
1
|
|
|
1
I
j

0.47
0.45
0.67
0.61
0.58
0.54
0.55
0.46
0.44
0.40
0.45
0.44

I
|
I
|
|
|
|
|
|
|
|
|
|

18.9
19.4
18.7
22.5
21.9
21.2
22.4
23.1
23.8
23.2
22.6
20.7

1976—JAN...I
-FEB...I
—MAR...I
*

67.9
64.3
86.9
89.1
69.4
80.8
68.8
64.6
67.9
66.0
71.8
92.1

93.4
89.3
128.2

I
1
I

0.3
-4.4
43.6

|
1
I

6.6
7.2
0.9

|
1
1

0.44
0.41
0.59

|
|
|

18.6
20.6
20.7

OUTSTANDING

"REFINANCING
"•REPAYMENTS"

LOANS

AT

END

OF

OF F E D E R A L LAND
ARE C O M P U T E D A S




PRECEDING

MILLIONS
OF
DOLLARS

MONTH

110.4
101.0

81.0

80.5
78.8

|

10.0

149.0

102.8

-31
7
-8
-19
-0

72.6
79.3

82.2
106.2
141.5

.
.
.
.
.

0
4
5
8
5

— .2
2
-7.9
9.3
3.6
29.2
33.3

YEAR
10.6
60.6
61.9
58.3
28.6
32.9
23.7
36.4
25.4
17.2
32.2
4.5

|
|
|
|
|
|
|
|
|
|
|
|
j

0.93
0.64

|
I
I
|
|
|
|
|
|
I
|
I
1

1.12
0 . 6 3
0.76
0.57
0.58
0.63
0.65
0.45
0.36
0.44
0.58
0.70

|
I
|

0.94
0.55
0.70

207.6
117.0
142.9
109.6
113.3
125.3
131.5
92.6
73.5
92.1
123.1
149.1

46.7
—43 . 6

21.1

39.3
13.8
29.5
8.6
39.9
55.6
67.0
27.6
- 7 . 3
12.1
15.9
5.4

202.0

35.4
-40.5
26.7

- 2 . 7
2.7
6.6

120.2
152.3

22.1

—23 . 3
3.3

10.6

5.0
-29.6
-20.5
25.3
33.6

MONTH,

BANK L O A N S " I S C O M P U T E D A S L O A N S
NEW MONEY L O A N E D L E S S T H E C H A N G E

AS P E R CENTAGE OF
LOANS O U T STANDING*

P E R C E N T A G E CHANGE
FROM P R E V I O U S

C L O S E D L E S S NEW MONEY
I N LOANS O U T S T A N D I N G .

LOANED.

0.67
0.60
0.48
0.47
0.45
0.41
0.45
0.46
0.59
0.77

TABLE

224.3

F E D E R A L LAND BANKS
R E F I N A N C I N G AND R E P A Y M E N T S
T W E L V E - M O N T H MOVING T O T A L
REFINANCING

I
I

MILLIONS
OF
I
|
DOLLARS

1976-JAN...I
-FEB... I
—MAR...j
-APR...I
-MAY... I
-JUN... I
—JUL . . . I
—AUG . . . I
-SEP... I
—OC T . . • I
-NOV...I
—DEC . . . I

I
1977-JAN... I
-FEB...|
-MAR...I
—APR . . . I
—MAY . . . I
—JUN... I
—JU L . • . I
-AUG...I
-SEP...I

—OCI . . . I
-NOV... I
-OEC . . . I

I

YEAR

0.6
2.0

14.5
14.3
15.0
17.3
15.8

2.1
0.7

1.2

16.8

1.8

16.9
19.9

3.4

2.2

1137
1159
1176.9
1199.7
1200.7

2.6

1206.5
1212.5
1213.6

0.5
0.5

21.9
23.6
26.4
27.1
31.9
32.8
36.6
37.2
38.9
39.3
39.4
35.0

2.1
4.3
2.9
4.4
2.5
3.9

1108.6

2.0
1.5
1.9

0.1

LOANS

DURING

THE

PRECEDING

IANS
ISED

MILLIONS
OF
DOLLARS

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

934.5
97 3 . 3
1015.5
1052.7
1070.7
1090.6
1105.7
1125.0
1141.1
1153.2
1179.0
1185.2

1.6
4.1
4.3
3.7
1.7
1.9
1.4
1.7
1.4
1.1
2.2
0.5

|
|
|
|
1
|
|
1
|
1
|
|
1

11.7
17.7
23.7
28.7
30.1
31.0
31.8
34.3
33.0
33.7
34.5
28.8

6.3
6.4
6.6
6.8
6.8
6.8
6.8
6.9
6.9
6.9
6.9
6.9

19.5
19.6
19.8
20.0
20.3
20.4
20.7
20.9
21.1
21.2
21.4
21.4

1243.8
1258.0
1290.5
1299.2
1331.4
1376.2
1429.0
1449.0
1443.2
1453.1
1470.1
1477.7

4.9
1.1
2.6
0.7
2.5
3.4
3.8
1.4
-0.4
0.7
1.2
0.5

|
1
|
|
|
|
1
|
|
|
|
1
j

33.1
29.3
27.1
23.4
24.4
26.2
29.2
28.8
26.5
26.0
24.7
24.7

7.1
7.1
7.2
7.2
7.3
7.4
7.6
7.6
7.5
7.5
7.5
7.4

21.3
21.4
21.7

1472.0
1475.3
1484.7

-0.4
0.2
0.6

I
|
|

18.4
17.3
15.0

7.3
7.2
7.2

ENO-OF-MONTH

DATA).

6.0
6.0

6.1
6.0
6.0
5 .9
5.9

12

MONTHS

(AVERAGE

OF

- R E F I N A N C I N G OF F E D E R A L LAND BANK L O A N S - I S C O M P U T E D AS L O A N S C L O S E D L E S S NEW MONEY
- R E P A Y M E N T S * A R E C O M P U T E D A S NEW MONEY L O A N E D L E S S THE CHANGE I N L O A N S O U T S T A N D I N G .




YEAR

I

AS P E R CENTAGE OF
LOANS O U T STANDING*

17.7
17.8
17.8
18.1
18.2
18.4
18.5
18.7
18.8
19.1
19.0
19.4

6.0

32.7
30.6
25.3

0.1

OF

5.2
5.3
5.4
5.5
5.7
5.8
5 .9

15.2

1.0

PERCENTAGE

5.0
5.0
5.0
5.0
5.0
5.0
5.0
5.1
5.0
5.0
5.1
5.2

16.0

1.8

REPAYMENTS

LOANS

LOANS O U T STANDING*

17.3

2.3
0.7

909.5
928.5
968.6
997.0
1040.9
1067.3

AVfcRAGE O U T S T A N D I N G

AS

21.0

0.6

746.2
751.0
766.3
784.2
789.3
803.6
811.7
828.9
834.8
845.1
860.5
889.7

I
1978-JAN...I
-FEB... I
—MAR . . . I

F E D E R A L L A N D BANK

P E R C E N T A G E CHANGE
FROM P R E V I O U S
MONTH

I

*

OF

LOANED.

17