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vF 3 0 A R D 17 1978 AGRICULTURAL FINANCE DATABOOK February 1978 Monthly Series Emanuel Melichar Marian Sayre Division of Research and Statistics Board of Governors of the Federal Reserve System Washington, D C. 20551 N o t for general d i s t r i b u t i o n . I n q u i r i e s s h o u l d be a d d r e s s e d t o t h e a u t h o r s . A G R I C U L T U R A L FINANCE D A T A B D D K — M O N T H L Y SERIES F E B R U A R Y 1976 SECTION 200 PAGE FARM LENDING O P E R A T I O N S AND E X P E R I E N C E OF NONBANK 210 PRODUCTION CREDIT ASSOCIATIONS 220 FEDERAL LAND BANKS 230 INSTITUTIONS LIFE INSURANCE COMPANIES 300 . 3 10 .....18 A G R I C U L T U R A L BANKING D A T A . . . . R E C E N T FEDERAL RESERVE P U B L I C A T I O N S IN AGRICULTURAL 23 FINANCE OVERVIEW Loans outstanding at PCAT s declined for the fifth straight month in January as new lending was weak and collections were strong. The factors responsible for this experience undoubtedly include the large increase in CCC loans, disbursal of the wheat deficiency payments, and the increae in FmHA and SBA disaster loans. In part, however, the data may also reflect a return to pre-1972 seasonal patterns, before farmers changed their timing of purchases and sales to minimize taxes or in anticipation of shortages or price increases. Year-end data on farm loans at banks (Table 301) will be available next month. Loan/deposit ratios at rural banks (Table 311) have decreased somewhat from the peak reached at the end of last summer, but remain significantly above their level of a year ago and very much above their pre-1976 level. Use of the Federal Reserve seasonal borrowing privilege in January and February (Table 302) remained substantially above the level of use in these months of earlier years and perhaps portends more significant use of the privilege by rural banks this year—particularly if the discount rate remains near or below money-market interest rates. Captions for individual tables have been omitted in this issue. 28 # # * *, # # # # * AGRICULTURAL FINANCE D A T A B O O K — M O N T H L Y SERIES 210 # FEBRUARY 1978 LOANS OUTSTANDING 211.1 211.2 212 213 ACTUAL 12-MONTH MOVING TOTAL 7 RENEWALS AND COLLECTIONS 213.1 213.3 SOURCE: ACTUAL SEASONALLY ADJUSTED LOANS MADE AND NEW LOANS 212.1 212.3 ACTUAL 12-MONTH MOVING TOTAL "PRODUCTION CREDIT A S S O C I A T I O N S — S E L E C T E D MONTHLY LOAN DATA," TECHNICAL SERVICES DIVISION, FARM CREDIT ADMINISTRATION. DATA IN THIS SECTION ARE OBTAINED FROM TIMELY MONTHLY REPORTS WHICH ARE NOT REVISED TO REFLECT ANY SUBSEQUENT CHANGES OR CORRECTIONS. IF ONLY YEAR-END DATA ON OUTSTANDING LOAN VOLUME ARE REQUIRED, USE THE SERIES IN SECTION 100 OF THE A&RICVLTVKAL FINANCE D A J A 8 0 0 K — A N N U A L . SERIES. N O V E M B E R 1977. DATA ON LOANS OUTSTANDING AND LOANS MADE DO NOT FARM-RELATED BUSINESS LOANS, OR AQUATIC LOANS. RENEWALS DO INCLUDE THESE LOANS; HOWEVER, THESE ONLY 0.8 PER CENT OF TOTAL OUTSTANDING LOANS AT INCLUDE RURAL HOME LOANS, DATA ON COLLECTIONS AND TYPES OF LOANS REPRESENTED PCA'S AS OF DECEMBER 1976. FOR A BRIEF DISCUSSION OF THE ANALYTICAL VALUE OF THESE DATA, SEE THE SECTION ENTITLED "LENDING EXPERIENCE OF NONBANK INSTITUTIONS" IN "OVERALL MEASURES OF FINANCIAL PERFORMANCE," BY EMANUEL MEL1CHAR, AGRICULTURAL FINANCE REVIEW. FEBRUARY 1977, PP. 92-95. # <c PRODUCT ION CREDIT ASSOCIATIONS (AGRICULTURAL LOANS, EXCEPT AS NOTED) 211 # * TABLE 211.1 PRODUCTION CREDIT ASSOCIATIONS LOANS OUTSTANDING (END OF MONTH) AMOUNT 1 1 1 1 1 MILLIONS OF DOLLARS I 1 CHANGE FROM PREVIOUS! 1 YEAR | MONTH 1 END OF MONTH 1975-JAN...| -FEB...| -MAR...| —APR...1 -MAY...| -JUN...I -JUL...I -AUG...I -SEP...| -OCT...1 -NOV...| —DEC...| 9546.6 9743.6 10011.0 10230.0 10471.b 10702.8 10812.7 10808.7 10737.1 10570.5 10452.1 10741.5 44.8 197.0 267.4 219.0 241.5 231.3 109.9 -4.1 -71.5 —166.6 -118.5 289.5 1976—JAN ... I -FEB...I -MAR..*| —APR..•j -MAY...| -JUN...I —JUL...| -AUG...| -SEP...| -OCT...| -NOV...I -DEC...I | 1977—JAN... | -FEB...I —MAR•• • | —APR.. e | —MAY... I -JUN... | -JUL... | —AUG... | -SEP...I -OCT...I —NOV... I -DEC... | j 1978—JAN... | 10711.1 10823.2 11117.2 11420.9 11706.7 12005.6 12190.8 12319.4 12321.4 12170.4 11960.8 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 12140.2 12272.9 12583.0 12929.3 13332.9 13748.9 14038.0 14132.5 14089.8 13788.7 13471.3 13454.3 13233.3 # r # # BORROWERS 1164.5 1079.6 1106.2 1190.9 1235.2 1302.8 1378.1 1510.7 1584.2 1599.8 1528.7 1454.8 -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 | | | | | j I | j | | | | I | | | | | | | j | | | | | | | | | 1 | | -220.9 | 1093.1 1751.8 1792.0 1805.5 1724.9 1640.6 1612.0 1532.3 1438.1 1305.4 1240.7 1208.3 1239.7 1429.1 1449.7 1465.8 1508.5 1626.2 1743.3 1847.2 1813.1 1768.4 1618.4 1490.5 1257.9 PERCENTAGE CHANGE FROM PREVIOUS MONTH 0.5 2.1 2.7 2.2 2.4 2.2 1.0 -0.0 -0.7 -1.6 -1.1 2.8 | 1 THOUSANDS YEAR AVERAGE SIZE PERCENTAGE| CHANGE | FROM | PREVIOUS I YEAR | DOLLARS | | | | | | | I | | I ( j 1 I I | 1 1 | 1 | | | | j I I I | | | | | | | 1 | 22.5 22.5 22.0 20.3 18.6 17.7 16.5 15.3 13.8 13.3 13.1 13.0 330.5 330.9 333.6 334.7 337.2 338.5 338.8 338.2 336.6 333.1 329.8 328.7 6.4 5.4 4.6 3.5 3.2 2.8 2.5 2.3 1.8 1.6 1.5 1.5 | | | | | | | | | | | | | 28889. 29445. 30010. 30568. 31053. 31618. 31913. 31955. 31902. 31733. 31668. 32682. 1 1 1 1 1 I 1 I 1 1 1 I 15.1 16.3 16.6 16.2 14.9 14.5 13.6 12.8 11.8 11.5 11.4 11.4 12.2 11.1 11.0 11.6 11.8 12.2 12.7 14.0 14.8 15.1 14.6 13.5 328.1 330.4 334.3 337.7 340.2 342.0 342.9 342.9 341.9 339.6 336.6 335.6 -0.7 -0.2 0.2 0.9 0.9 1.0 1.2 1.4 1.6 1.9 2.1 2.1 | | | | 1 | | | | 1 | | 32646. 32761. 33250. 33815. 34415. 35106. 35552. 35926. 36036. 35837. 35591. 36338. I 1 1 1 1 1 1 I 1 I 1 I 13.0 11.3 10.8 10.6 10.8 11.0 11.4 12.4 13.0 12.9 12.3 11.2 13.3 13.4 13.2 13.2 13.9 14.5 15.2 14.7 14.4 13.3 12.4 10.3 335.3 337.4 341.7 345.5 348.4 350.4 351.3 351.2 350.6 347.9 344.9 342.8 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 | | | | | | | | | | 36207. 36373. 36828. 37424. 38266. 39233. 39961. 40237. 40189. 39637. 39064. 39253. 1 I I I I I 1 1 1 1 1 1 10.9 11.0 10.8 10.7 11.2 11.8 12.4 12.0 11.5 10.6 9.8 8.0 -1.6 | | I | | \ | | | | | | | j I | 1 | | | | | | | 1 | j I | | | | | | | | | | | j 1 9.0 341.2 1.8 | 38788. 1 7.1 -0.3 1.0 2.7 2.7 2.5 2.6 1.5 1.1 0.0 -1.2 -1.6 1.8 -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 PERCENTAGE 1 CHANGE I FROM I PREVIOUS I YEAR # # # # # TABLE 211.2 PRODUCTION CREDIT ASSOCIATIONS LOANS OUTSTANDING SEASONALLY ADJUSTED DATA (END OF MONTH) AMOUNT 1 1 1975-JAN...I -FEB...| -MAR...| —APR••• [ -MAY... | -JUN...I —JUL... | —AUG...| -SEP... | -OCT... I -NOV...i -DEC... | j 1976—JAN..*| -FEB... | -MAR... | -APR... | -MAY... | -JUN...I —JUL...| -AUG...1 -SEP... | -OCT...| —NOV...| —DEC...| ; 1977—JAN...| -FEB... | -MAR...| -APR... | -MAY... | -JUN... | -JUL... | -AUG... | -SEP... I -OCT...| —NOV... I -DEC... | j 1978—JAN...| MILLIONS OF DOLLARS END OF MONTH I 1 CHANGE FROM PREVIOUS! MONTH 9847.6 10005.2 10117.0 10186.8 10277.2 10357.4 10466.6 10533.6 10574.8 10657.5 10782.6 10945.5 148.9 157.6 111.7 69.9 90.4 80.2 109.2 67.0 41.2 82.7 125.1 162.9 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 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 13658.7 -58.0 | | 1 | | I | | | | | | | i | | | | | | | | I | I | j | | | | | | | | | | | | j | PERCENTAGE CHANGE FROM PREVIOUS MONTH | 1 THOUSANDS YEAR AVERAGE SIZE PERCENTAGE! CHANGE | FROM 1 PREVIOUS I YEAR | DOLLARS PERCENTAGE CHANGE FROM PREVIOUS YEAR YEAR | 1797.8 1849.9 1845.3 1739.7 1626.7 1580.1 1474.0 1380.7 1259.6 1229.2 1226.2 1246.8 1.5 1.6 1.1 0.7 0.9 0.8 1.1 0.6 0.4 0.8 1.2 1.5 | | I | 1 | | | t | | | 22.3 22.7 22.3 20.6 18.8 18.0 16 .4 15.1 13.5 13.0 12.8 12.9 337.1 335.1 334.1 332.3 333.1 333.2 333.5 333.8 333.8 334.1 334.tt 334.5 6.2 5.3 4.6 3.6 3.3 2.9 2.6 2.3 1.8 1.5 1.3 1.3 | | | | | | 1 | | | | | 29209. 29855. 30283. 30655. 30849. 31087. 31384. 31553. 31683. 31902. 32206. 32721. 15.1 16.5 16.9 16.5 15.0 14.7 13.4 12.5 11.5 11.4 11.4 11.4 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 | | I | | | | 1 | j | | | | | 1 1 | 1 | | 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 12.3 11.3 11.3 11.9 12.0 12.3 12.6 13.8 14.6 15.0 14*5 13.5 334.8 334.8 335.1 335.6 336.3 336.9 337.7 338.5 339.1 340.3 341.5 341.4 -0.7 -0.1 0.3 1.0 1.0 1.1 1.3 1.4 1.6 1.9 2.0 2.1 | | | | | | 1 | | 1 | | 33023. 33256. 33605. 33965. 34218. 34540. 34911. 35401. 35735. 36019. 36172. 36401. 13.1 11.4 11.0 10.8 10.9 11.1 11.2 12.2 12.8 12.9 12.3 11.2 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 | | | | | | | | | 0.8 0.8 1.0 1.2 1.5 1.7 1.8 1.2 0.9 0.2 0.0 -1.3 1 | 1 | | I | | | | | | | | | | | | 1 1 | | | t | 13.3 13.5 13.3 13.3 14.0 14.6 15.1 14.6 14.3 13.3 12.5 10.4 342.1 342.0 342.6 343.4 344.6 345.3 346.1 346.8 347.9 348.6 349.8 348.7 2.2 2.1 2.2 2.3 2.5 2.5 2.5 2.4 2.6 2.4 2.4 2.1 36634. 36945. 37246. 37620. 38057. 38606. 39215. 39608. 39832. 39840. 39712. 39331. 10.9 11.1 10.8 10.8 11.2 11.8 12.3 11.9 11.5 10.6 9.8 8.0 9.0 348.0 1 | | | | | 1 | | | | ! 1 1.7 | 39250. 7.1 1127.8 | 1 o * 1 1 BORROWERS TABLE 212.1 PRODUCTION CREDIT ASSOCIATIONS LOANS MADE AND NEW LOANS LOANS MADE PERCENTAGE CHANGE FROM PREVIOUS MONTH 1975—JAN...| —FEB...| —MAR...I -APR...| —MAY... I -JUN...I -JUL...| -AUG...) -SEP...| —OCT.•. I -NOV.. . | -DEC...I 1579.6 1412.5 1457.3 1449.3 1257.6 1207.6 1136.3 980.8 1063.6 1235.3 1195.4 2021.3 | 1 | | | 1 | 1 | | | | -5.2 —10.6 3.2 -0.6 -13.2 -4.0 -5.9 -13.7 8.4 16.1 -3.2 69.1 1976—JAN... | —FEB...I —MAR...I —APR...| —MAY..•| -JUN...I -JUL...| -AUG... | -SEP...I -OCT...I -NOV...I -DEC.. . | 1794.8 1594.0 1932.3 1714.3 1412.4 1438.6 1177.3 1178.1 1168.5 1210.5 1487.8 2146.9 | | 1 | | | I | | | | | -11.2 -11.2 21.2 -11.3 -17.6 1.9 -18.2 0.1 -0.8 3.6 22.9 44.3 1977—JAN... | —FEB.*.j -MAR...j —APR.. . | -MAY...I -JUN...| -JUL...i —AUG... 1 -SEP...| -OCT...1 -NOV...| —DEC..•| 1973.7 1830.1 2196.2 1874.2 1652.2 1614.8 1292.0 1281.2 1284.4 1325.8 1545.4 2179.1 1 | | 1 1 | | | | | | | 2054.0 | YEAR AS PERCENTAGE OF (LOANS OUT-| I STANDING*! COLLECTIONS MILLIONS | OF | DOLLARS | 1 5.8 14.6 8.9 12.0 9.1 26.4 8.0 0.1 14.1 9.5 5.6 21.2 | | | | I | | | | | | I j -5.7 I 16.6 14.8 15.0 14.5 12.3 11.5 10.6 9.1 9.8 11.5 11.3 19.3 | | | | 1 | | | | 1 I | 176.9 234.2 254.4 206.9 197.8 176.0 150.2 132.8 120.3 114.7 127.8 198.4 935.0 800.0 839.0 923.9 877.4 926.7 657.1 735.9 810.1 911.5 817.5 1314.1 1 1 I I 1 1 I 1 1 1 1 1 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 | | 1 | | | I | 169.0 205.4 221.6 206.3 193.3 173.6 162.8 153.0 131.0 114.8 122.7 189.0 10.0 14.8 13.7 9.3 17.0 12.3 9.7 8.8 9.9 9.5 3.9 1.5 | 1 | | | | | 1 | | | | j I | | | | | I | | 1 | | t I 1 1 1 1 I 1 1 1 1 1 13.6 12.8 32.6 18.3 12.3 19.1 3.6 20.1 9.9 -2.0 24.5 6.2 -8.1 -7.3 20.0 -14.7 -11.8 -2.3 -20.0 -0.8 0.2 3.2 16.6 41.0 1978—JAN...| | | 1 I 1 1 I 1 1 1 1 1 I 1 j 1 16.2 15.1 17.9 14.9 12.8 12.1 9.4 9.1 9.1 9.4 11.2 16.2 | | | | | | | | | | | | j 15.3 | 4.1 PERCENTAGE CHANGE FROM PREVIOUS MONTH 1 YEAR I AS PERCENTAGE OF I LOANS OUT—| I STANDING*| COLLECTIONS -14.1 -14.4 4.9 10.1 -5.0 5.6 -7.5 -14.1 10.1 12.5 -10.3 60.8 | | | I 1 | | | | | | | -0.5 5.8 -2.4 3.5 2.1 25.7 6.9 -3.3 15.1 10.9 7.7 20.7 1 1 1 1 1 1 1 1 1 1 1 i 9.8 8.4 8.6 9.2 8.6 8.8 8.0 6.8 7.5 8.5 7.7 12.6 1 1 | | | 1 1 | I | | | 104.7 132.6 146.5 131.9 138.0 135.1 113.3 99.6 91.7 84.7 67.4 129.0 1030.5 887.3 1170.0 1139.1 1021.3 1129.6 911.9 896.1 895.6 904.2 1025.0 1358.7 | | | I 1 | | | | | | | I 1 1 | | | | | | t | | 1 | -21.6 -13.9 31.9 -2.6 -10.3 10.6 -19.3 -1.7 -0.1 1.0 13.4 32.6 | | | | | | | | | | | | 10.2 10.9 39.5 23.3 16.4 21.9 6.4 21.8 10.6 -0.8 25.4 3.4 1 1 I 1 I 1 1 1 1 1 1 1 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 | | | | | | | | | | 97.0 114.4 134.3 137.1 139.8 136.3 126.1 116.4 100.4 85.7 84.5 119.6 167.9 209.0 218.7 216.7 206.3 198.5 181.5 144.9 125.5 103.5 112.6 160.6 1122.1 1007.5 1309.9 1211.3 1203.5 1227.3 1000.6 979.2 961.8 998.9 1052.6 1345.0 | | | | | | | | | | | | -17.4 -10.2 30.0 —7.5 -0.6 2.0 -18.5 -2.1 -1.8 3.9 5.4 27.8 | | | | | | | I | | | | 6.9 13.5 12.0 6.3 17.6 8.6 9.7 9.3 7.4 10.5 2.7 -1.0 1 1 1 1 1 1 1 1 1 1 1 1 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 | I | | | | | 95.5 115.1 130.4 140.0 150.3 150.8 140.6 110.7 94.0 78.0 76.7 99.1 146.5 1176.5 | -12.5 1 4.8 83.9 00 MILLIONS I OF | DOLLARS | NEW LOANS * OUTSTANDING LOANS AT END OF PRECEDING MONTH. "NEW LOANS" ARE COMPUTED AS LOANS MADE LESS RENEWALS. RENEWALS INCLUDE SOME NONAGRICULTURAL LOANS (SEE NOTE ON PAGE 3). # # # # # # # # # # # TABLE 212.3 PRODUCTION CREDIT ASSOCIATIONS LOANS MADE AND NEW LOANS TWELVE—MONTH MOVING TOTAL LOANS MADE MILLIONS I OF | DOLLARS | 1 1975—JAN.••| —FEB...j -MAR ...| -APR...| -MAY...I -JUN...| -JUL...I -AUG... | -SEP...I -OCT...| -NOV...I —DEC•..| 14445.1 14625.3 14744.0 14899.1 15004.3 15256.4 15340.2 15340.8 15472.0 15578.9 15642.7 15996.8 1976—JAN...| —FEB ...| —MAR... I —APR...| -MAY...| —JUN...| -JUL ... I -AUG...I -SEP...* -OCT...| -NOV...| -DEC...| 16211.7 16393.2 16868.2 17133.2 17288.0 17519.0 17560.0 17757.2 17862.2 17837.4 18129.8 18255.5 1977-JAN...| 18434.4 —FEB...| 18670.5 — M A R . . . I 18934.5 —APR ...| 19094.4 — M A Y . . . | 19334.2 —JUN...| 19510.4 -JUL...| 19625.1 -AUG...| 19728.3 -SEP... 1 19844.1 -OCT...| 19959.4 -NOV...1 20017.1 —DEC... 1 20049.3 1978—JAN...| 20129.6 j | | | | | | | | | 1 1 j 1 | | | 1 I | | I | | | j | | 1 | | | | | 1 | | | j | PERCENTAGE CHANGE FROM PREVIOUS MONTH 0.6 1.2 0.8 1.1 0.7 1.7 0.5 0.0 0.9 0.7 0.4 2.3 1.3 1.1 2.9 1.6 0.9 1.3 0.2 1.1 0.6 -0.1 1.6 0.7 1.0 1.3 1.4 0.8 1.3 0.9 0.6 0.5 0.6 0.6 0.3 0.2 0.4 | | | | 1 | | | | | | | | | | | | | | 1 | | | | | | j | | | | | | | | | | | | j | YEAR NEW LOANS AS PERCENTAGE OF LOANS OUT—| STANDING*! 8.6 9.0 9.1 8.0 7.3 9.0 8.4 8.5 8.9 9.6 10.6 11.4 162.7 162.1 160.7 159.8 158.5 158.8 157.5 155.5 154.9 154.3 153.4 155.3 12.2 12.1 14.4 15.0 15.2 14.8 14.5 15.8 15.4 14.5 15.9 14.1 155.8 156.1 159.3 160.4 160.4 161.0 159.7 159.9 159.0 156.9 157.7 157.0 13.7 13.9 12.2 11.4 11.8 11.4 11.8 11.1 11.1 11.9 10.4 9.8 156.9 157.3 158.0 157.7 158.0 157.7 156.8 155.7 154.8 153.9 152.8 151.6 9.2 | | I | | | | | | I | I j | | | | | | | | | | | | 1 | I | | 1 | | | | | 1 | 151.0 | COLLECTIONS MILLIONS | OF | DOLLARS | 1 176.8 178.9 181.1 180.7 179.6 178.1 176.1 174.1 170.9 169.2 168.1 168.4 9976.7 10020.4 9999.6 10030.8 10048.7 10238.3 10293.6 10268.8 10375.2 10464.4 10522.9 10748.1 167.6 166.5 166.3 166.8 166.8 166.7 167.6 169.0 169.9 170.0 168.3 167.7 10843.6 10930.9 11261.9 11477.1 11621.1 11824.0 11878.8 12039.0 12124.5 12117.2 12324.7 12369.3 167.6 168.2 168.5 169.5 170.5 172.3 173.5 172.7 171.7 169.4 167.6 164.8 12460.9 12581.0 12720.9 12793.0 12975.2 13072.9 13161.6 13244.7 13310.9 13405.7 13433.3 13419.6 162.5 13474.0 | | | | | | | | | 1 J | | 1 | | | | 1 | | | | | | | 1 | | | | | | | I | | | | PERCENTAGE CHANGE FROM PREVIOUS MONTH | YEAR AS PERCENTAGE OF LOANS OUT—| STANDING*| -0.0 0.4 -0.2 0.3 0.2 1.9 0.5 -0.2 1.0 0.9 0.6 2.1 | | ! 1 | | | | | | | | 6.9 6.4 5.3 3.3 1.9 3.7 3.1 2.9 3.6 4.9 6.7 7.7 112.4 111.0 109.0 107.6 106.1 106.6 105.7 104.1 103.9 103.7 103.2 104.4 0.9 0.8 3.0 1.9 1.3 1.7 0.5 1.3 0.7 -0.1 1.7 0.4 | | | | | | | | | I 1 | 6.7 9.1 12.6 14.4 15.6 15.5 15.4 17.2 16.9 15.6 17.1 15.1 104.2 104.1 106.4 107.4 107.8 108.6 108.1 108.4 107.9 106.6 107.2 106.4 0.7 1.0 1.1 0.6 1.4 0.8 0.7 0.6 0.5 0.7 0.2 -0.1 | | I | | | | | | | | | 14.9 15.1 13.0 11.5 11.7 10.6 10.8 10.0 9.8 10.6 9.0 8.5 106.1 106.0 106.1 105.6 106.1 105.7 105.2 104.5 103.6 103.4 102.5 101.5 0.4 | 8.1 101.1 | | | | | | | | | | 1 | 1 | 1 | | | | | | | 1 | | 1 | | | | | | | | | | 1 | 1 | COLLECTIONS 122.1 122.6 122.8 121.6 120.3 119.5 118.1 116.5 114.6 113.6 113.1 113.1 112.1 111.1 111.0 111.7 112.1 112.5 113.4 114.6 115.3 115.5 114.4 113.6 113.3 113.3 113.2 113.5 114.4 115.5 116.4 115.9 115.2 113.8 112.5 110.3 108.7 * AVERAGE OUTSTANDING LOANS DURING THE PRECEDING 12 MONTHS (AVERAGE OF END-OP-MONTH DATA), "NEW LOANS" ARE COMPUTED AS LOANS MADE LESS RENEWALS. RENEWALS INCLUDE SOME NONAGR1CULTURAL LOANS (SEE NOTE ON PAGE 3 ) . TABLE 213.1 PRODUCTION CREDIT ASSOCIATIONS RENEWALS AND COLLECTIONS RENEWALS MILLIONS | OF | DOLLARS | PERCENTAGE CHANGE FROM PREVIOUS MONTH | YEAR 1 COLLECTIONS AS PERCENTAGE OF I LOANS OUT| STANDING* LOANS MADE COLLECT. & RENEWALS MILLIONS OF DOLLARS MONTH 893.2 603.2 572.9 700.5 635.6 1975-JAN... —FEB.•• —MAR... -APR... -MAY... -JUN... —JUL... -AUG... -SEP... -OCT ... -NOV... -DEC... 644.8 612.5 618.2 525.4 380.2 280.9 279.2 245.0 253.5 323.8 377.9 707.1 I | I | I | | 1 | | 1 1 11.5 -5.0 0.9 -15.0 —27.6 -26.1 —0.6 -12.3 3.5 27.7 16.7 87.1 I | | | | | | | | | | | 16.4 28.7 29.2 30.8 29.8 28.6 11.4 11.6 10.8 5.8 1.4 22.3 I I 1 I 1 1 I 1 1 I I I 6.6 6.4 6.3 5.2 3.7 2.7 2.6 2.3 2.3 3.0 3.6 6.8 40.6 43.4 42.4 36.3 30.2 23.3 24.6 25.0 23.6 1976—JAN... —FEB•.. -MAR... —APR.. . -MAY... —JUN... —JUL ... —AUG... -SEP... -OCT... -NOV... -DEC... 764.3 706.7 762.2 575.2 391.1 309.0 265.4 282.0 273.0 306.4 462.8 766.3 I 1 1 | | | | 1 | | | | 8.1 -7.5 7.9 -24.5 -32.0 -21.0 -14.1 6.2 -3.2 12.2 51.1 70.3 | | | | | 1 | | I I | I 18.5 15.4 23.3 9.5 2.8 10.0 -4.9 15.1 7.7 - 5 .4 22.5 11.5 1 I I I 1 I 1 1 1 1 I 1 7.1 6.6 7.0 5.2 3.4 2.6 2.2 2.3 2.2 2.5 3.8 6.6 42.6 44.3 39.4 33.6 27.7 21.5 22.5 23.9 23.4 25.3 31.1 36.7 41.6 47.7 46.7 40.9 34.9 27.2 1977—JAN... -FEB... -MAR... -APR... -MAY... —JUN... —JUL... -AUG... -SEP... -OCT ... -NOV... —DEC ... 651.6 822.7 866.4 662.9 448.7 387.6 291.4 302.1 322.6 326.9 492.8 834.2 | | | j | | | | | | I | 6.0 -3.4 7.7 -25.2 -32.3 -13.6 -24.8 3.7 6.8 1.3 50.8 69.3 I | | I | | | | | I 1 | 11.4 16.4 16.3 15.2 14.7 25.4 9.8 7.1 18.2 6.7 6.5 5.8 I | I 1 1 I I I I I 1 1 7.0 6.6 7.2 5.3 3.5 2.9 2.1 2.2 2.3 2.3 3.6 6.2 43.1 45.0 40.4 35.4 27.2 24.0 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 1372.0 1356.7 1978—JAN... 877.5 I 3.0 1 6.5 42.7 38.5 1402.0 5.2 | 26.2 31.6 35.0 22.6 41.9 50.4 51.9 42.9 37.4 29.1 27.0 24.9 22.3 23.1 28.8 41.0 26.8 26.8 23.4 22.5 27.6 41.0 * OUTSTANDING LOANS AT END OF PRECEDING MONTH. RENEWALS AND COLLECTIONS INCLUDE SOME NONAGRICULTURAL LOANS (SEE NOTE ON PAGE 3). PERCENTAGE CHANGE FROM PREVIOUS 686.0 756.4 738.7 883.8 1076.7 935.7 1018.7 1062.2 775.9 871.3 831.2 730.7 828.5 723.4 769.8 892. 2 1054.8 1212.4 1135.8 1175.3 875.5 1004.4 865.0 800.8 813.7 711.8 884.4 1023.3 1281.0 8.7 -32.5 -5.0 22.3 -9.3 7.9 10.3 -2.3 19.6 21.8 -13.1 8.9 4.3 -27.0 12.3 -4.6 -12.1 13.4 -12.7 6.4 15.9 1*.2 14.9 —6.3 3.5 -25.5 14.7 -13.9 -7.4 1.6 -12.5 24.3 15.7 25.2 7.1 -1.1 3.3 | YEAR AS PERCENTAGE OF LOANS O U T STANDING* 10.4 0.6 -5.5 18.0 20.2 44.4 24.4 15.6 37.9 16.6 11.3 24.0 | I | | | | | | | I | | 9.4 6.3 5.9 7.0 6.2 6.6 7.1 6.8 8.2 10.0 8.9 9.7 18.9 28.6 52.1 18.7 15.0 20.8 -4.4 4.2 0.9 -2.0 29.6 11.5 | 1 1 | | | | | | 1 | | 9.9 7.2 8.1 7.5 6.4 7.1 6.0 6.3 7.2 8.6 10.0 9.5 10.6 12.8 15.3 4.1 9.6 -1.8 -1.6 14.9 14.7 21.4 13.2 19.5 | | | | I | | | | | 1 | 9.6 7.2 8.2 6.9 6.2 6.1 5.2 6.3 7.2 9.1 9.9 10.1 19.3 | 10.4 TABLE 213.3 PRODUCTION CREDIT ASSOCIATIONS RENEWALS AND COLLECTIONS TWELVE-MONTH MOVING TOTAL RENEWALS MILLIONS | OF | DOLLARS | 1 1975 —JANe . . 1 —FEB•••| —MAR..•j -APR...| -MAY...| —JUN...| -JUL...| -AUG...1 -SEP...| -DC T . . . | -NOV...| -DEC...I 4466.4 4604.9 4744.4 4866.3 4955.6 5018.1 5046.6 5072.0 5096.8 5114.4 5119.8 5248.6 1976—JAN...| —FEB...| —MAR...| —APR ...| -MAY...| -JUN...| -JUL...| —AUG...1 -SEP...| -OCT...| -NOV...| —DEC...j 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...j -APR.. . | —MAY...| —JUN...j —JUL...| -AUG...| —SEP...1 —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... | 6655.6 | | | | I | 1 | | 1 | I j 1 | I 1 | | | | | | | | j I | | | | | | | | | | | j | PERCENTAGE CHANGE FROM PREVIOUS MONTH 2.1 3.1 3.0 2.6 1.8 1.3 0.6 0.5 0.5 0.3 0.1 2.5 2.3 1.8 2.6 0.9 0.2 0.5 -0.2 0.7 0.3 -0.3 1.5 1.4 1.5 1.9 2.0 1.4 0.9 1.2 0.4 0.3 0.8 0.3 0.5 0.7 0.4 | | I I | 1 1 | | | | 1 1 1 | | | | | | 1 | | | 1 | i | | 1 | | | 1 | | | | | j | YEAR COLLECTIONS AS PERCENTAGE OF LOANS OUTSTANDING* LOANS MADE | MILLIONS I OF | COLLECT. &| DOLLARS 1 RENEWALS | 1 12.7 15.2 17.9 19.4 20.4 21.7 21.0 22.0 21.6 20.6 19.6 19.9 50.3 51.0 51.7 52.2 52.3 52.2 51.6 51.4 51.0 50.7 50.2 51.0 30.9 31.5 32.2 32.7 33.0 32.9 32.9 33.1 32.9 32.8 32.7 32.8 35.4 36.0 36.6 37.1 37.2 36.9 36.7 36.5 36.0 35.7 35.5 35.6 | | | | | | | | | | 1 | 8169.7 8173.1 6140.0 8247.0 8353.9 8564.9 8713.4 8813.0 9055.8 9209.0 9304.1 9501.4 20.1 18.6 18.2 16.2 14.4 13.5 12.6 12.7 12.6 11.8 13.4 12.1 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 | | # | | 1 | | 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 11.3 11.5 10.6 11.4 12.2 13.0 13.8 13.4 13.9 14.6 13.4 12.6 50.9 51.3 51.6 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 1 | | | | I | | | | | | 11001.2 11100.8 11233.9 11267.7 11337.6 11323.1 11311.5 11426.1 11557.3 11783.4 11942.9 12163.9 11.4 49.9 33.1 34.9 | 12390.6 | | | | | | | | | 1 | 1 1 | | | | | | | | | 1 | | 1 | | | | 1 | | | | | | | 1 | * AVERAGE OUTSTANDING LOANS DURING THE PRECEDING 12 MONTHS (AVERAGE OF END-OF-MONTH DATA). RENEWALS AND COLLECTIONS INCLUDE SOME NONAGR1CULTURAL LOANS (SEE NOTE ON PAGE 3). PERCENTAGE CHANGE FROM PREVIOUS MONTH -1.3 0.0 -0.4 1.3 1.3 2.5 1.7 1.1 2.8 1.7 1.0 2.1 1.8 1.8 3.0 1.3 0.9 1.4 -0.3 0.3 0.1 —0.2 2.6 1.1 1.0 0.9 1.2 0.3 0.6 -0.1 -0.1 1.0 1.1 2.0 1.4 1.8 1.9 | | | | | | | | | | | | I 1 | | | | | | | | | | | I 1 | | | | | | | | | | | | 1 | YEAR AS PERCENTAGE OF LOANS O U T STANDING* 0.5 —0.4 -1.2 -1.4 0.4 3.6 6.7 8.3 10.2 11.8 14.1 14.8 89.2 89.5 89.3 90.7 91.2 91.2 92.3 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 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 12.6 92.9 92.0 90.6 88.7 88.5 88.2 AGRICULTURAL FINANCE D A T A B O O K — M U N T H L Y SERIES 220 FEDERAL LAND BANKS 221 FEBRUARY 1978 (AGRICULTURAL LOANS) LOANS OUTSTANDING 221.1 222 12 13 ACTUAL 12-MONTH MOVING TOTAL 14 15 REFINANCING AND REPAYMENTS 224.1 224.3 SOURCE: ACTUAL 12-MONTH MOVING TOTAL NEW MONEY LOANED 223.1 223.3 224 11 LOANS CLOSED 222.1 222.3 223 ACTUAL ACTUAL 12-MONTH MOVING TOTAL "FEDERAL LAND B A N K S — S U M M A R Y OF SELECTED MONTHLY LOAN DATA," TECHNICAL SERVICES DIVISION, FARM CREDIT ADMINISTRATION. DATA IN THIS SECTION ARE OBTAINED FROM TIMELY MONTHLY REPORTS WHICH ARE NOT REVISED TO REFLECT ANY SUBSEQUENT CHANGES OR CORRECTIONS. IF ONLY YEAR-END DATA ON OUTSTANDING LOAN VOLUME ARE REQUIRED, USE THE SERIES IN SECTION 100 OF THE AGRICULTURAL FINANCE D A T A B O U K — A N N U A L SERIES, N O V E M B E R 1971. 16 17 TABLE 221.1 FEDERAL LAND BANKS LOANS OUTSTANDING (END OP MONTH) AMOUNT MILLIONS OF DOLLARS OUTSTANDING | CHANGE FROM PREVIOUS| I MONTH | YEAR | 1975—JAN* . . I —FEB..•| -MAR... | -APR...| -MAY...( —JUN... | -JUL... | -AUG*..| -SEP... | —OCT *.. 1 -NOV...I —DEC... 1 13656.1 13679.7 14179.2 14441.0 14692.9 14938.3 15144.8 15332.6 15517.9 15711.7 15837.2 16013.8 199.7 223.6 299.5 261.8 251.9 245.4 206.5 187.8 185.3 193.8 125.5 176.6 1976-JAN...| —FEB...| -MAR...j -APR...| —MAY...| -JUN...| —JUL...| -AUG... | —SEP...I —OCT...I -NOV...| —DEC ... I 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 1977—JAN...| — FEB ... 1 —MAR...| —APR ... I —MAY... 1 -JUN.. e | -JUL... | -AUG...I -SEP...I —OC T...| —NOV... 1 -DEC... | 18692.7 18921.9 19330.8 19625.0 19916.8 20190.2 20440.8 20658.0 20873.7 21057.0 21258.2 21466.3 168.5 229.2 409.0 294.2 291.8 273.4 2 50.6 217.2 215.7 183.3 201.2 208.1 1978—JAN*..| 21672.2 205.8 NUMBER | 1 | | | | 1 | | | | | j I | | | | | | | 1 | | | j | 1 | | | | | | | 1 | | j I 2551.5 2631.1 2712.4 2748.3 2752.4 2761.8 2711.6 2672.3 2641.3 2637.0 2568.6 2557.4 2533.7 2489.9 2520.7 2505.2 2466.7 2464.9 2477.9 2473.6 2464.3 2436.0 2483.1 2510.4 2502.8 2552.3 2631.0 2678.8 2757.3 2787.0 2818.1 2851.8 2891.5 2909.3 2938.0 2942.1 2979.5 I I | | | | | | 1 | } | j | | 1 I I | | | | | | | j | | 1 | | | | | | I I | j I PERCENTAGE CHANGE FROM PREVIOUS MONTH | 1 YEAR 1 1 PERCENTAGE| THOUSANDS CHANGE | FROM LAST# YEAR 1 1 1.5 1.6 2.2 1.8 1.7 1.7 1.4 1.2 1.2 1.2 0.8 1.1 I | | | | | | | | | 1 | 23.0 23.4 23.7 23.5 23.1 22.7 21.8 21.1 20.5 20.2 19.4 19.0 430.0 431.6 433.5 435.1 436.9 438.6 440.0 441.0 442.0 442.4 442.4 442.8 3.8 4.1 4.2 5.0 4.2 4.1 4.0 3.8 3.6 3.5 3.3 3.2 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 j | 1 I | | | | | | | 1 t 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 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 1.0 t 15.9 459.8 2.0 0.9 1.2 2.2 1.5 1.5 1.4 1.2 1.1 1.0 0.9 1.0 1.0 | | | | 1 | | | | | | | 1 | | | | 1 | | I | 1 | | 1 1 | | | | | | 1 | | | | 1 | AVERAGE SIZE DOLLARS PERCENTAGE CHANGE FROM LAS1 YEAR 31758. 32156. 32711. 33190. 33627. 34061. 34420. 34767. 35112. 35516. 35797. 36166. 18.5 18.6 18.6 17.6 18.1 17.6 17.1 16.7 16.3 16.1 15.5 15.4 36533. 36895. 37522. 37998. 38389. 38832. 39246. 39581. 39924. 40267. 40662. 41088. 15.0 14.7 14.7 14.5 14,2 14.0 14.0 13.8 13.7 13.4 13.6 13.6 41457. 41909. 42684. 43243. 43792. 44273. 44732. 45124. 45519. 45868. 46289. 46714. 13.5 13.6 13.8 13.8 14.1 14.0 14.0 14.0 14.0 13.9 13.8 13.7 47136. 13.7 TABLE 222.1 FEDERAL LAND BANKS LOANS CLOSED NUMBER AMOUNT MILLIONS OF DOLLARS I ( | PERCENTAGE CHANGE FROM PREVIOUS MONTH I YEAR AVERAGE SIZE 1 AS PERCENTAGE OF LOANS | I PERCENTAGE I OUT| CHANGE | DOLLARS | I FROM LASTI STANDING*! I YEAR | 1 295.4 542.1 644.5 622.1 602.0 614.5 519.6 541.9 490.6 456.0 326.6 276.9 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 | | | j | | | | | 2.5 2.3 3.6 2.7 2.6 2.5 2.4 2.0 1.6 1.7 2.0 2.1 | 1 | | | 1 | I | | I | 223.4 367.1 475.2 475.5 457.7 403.6 374.2 435.2 516.3 389.3 340.3 304.0 8.6 | 2.3 I 247.1 19.4 37.0 27.6 15.6 4.9 9.4 -10.9 -12.0 1.0 1.0 -13.6 11.4 5552. 5110. 5737. 5522. 5322. 5128. 4754. 4004. 4297. 4412. 3722. 4998. 7.2 14.0 4.1 -3.6 -7.7 -3.9 -10.8 -26.9 -10.0 -10.3 -21.4 -0.5 | | | | | 1 | | | | | | 71671. 67929. 76576. 71848. 71243. 72646. 69617. 72028. 72291. 72440. 70457. 74992. 1 1 I 1 1 1 1 1 1 1 1 1 11.4 20.1 22.6 19.9 13.7 13.9 -0.2 23.9 12.3 12.6 9.6 11.9 | | | | | | | | | | 1 | 3.0 2.5 3.2 2.8 2.6 2.5 2.2 1.9 2.0 2.1 1.7 2.4 4.8 -11.7 52.1 -17.3 -16.7 11.4 -9.4 -12.6 0.8 -3.0 11.8 24.8 -1.3 -0.1 20.1 10.0 -4.1 8.7 10.9 11.2 4.1 -1.9 33.7 16.7 4816. 4467. 6377. 5377. 4679. 5175. 4457. 4366. 4167. 4098. 4465. 5047. -13.3 -12.6 11.2 -2.6 -8.3 0.9 -6.2 9.0 -3.0 -7.1 20.0 1.0 | I | | | | | 1 | 1 | I 81586. 77645. 82736. 81166. 74546. 78265. 82357. 73457. 77572. 76534. 78511. 86699. 1 1 I I 1 1 I 1 1 I 1 I 13.6 14.3 8.0 13.0 4.6 7.7 18.3 2.0 7.3 5.7 11.4 15.6 | | 1 | | | | | 1 | | 1 6.0 -7.4 58.1 -23.2 -0.6 -2.4 —2.7 -18.2 -5.7 -5.6 16.8 7.2 | | | | | | | | | | | | 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. 4764. 4608. 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 | 1 | | | 1 | | 1 | 1 | 94058. 91013. 99833. 92640. 89273. 86233. 1028 68. 83792. 65203. 82240. 86442. 89729. 1 1 1 1 1 1 1 1 1 1 1 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 12.0 | 8.4 4919. —0.2 | 397.9 347.1 439.3 396.7 379.2 372.5 331.0 288.4 310.6 319.6 262.2 374.8 | | | | 1 | 1 | | I | | 18.3 -12.8 26.6 -9.7 -4.4 -1.7 -11.2 -12.9 7.7 2.9 -17.9 42.9 1976—JAN...1 —FEB. * . | —MAR...I -APR...| -MAY... | -JUN...j -JUL...| -AUG...1 -SEP...| -OCT...| -NOV...| -DEC...| 392.9 346.8 527.6 436.4 363.7 405.0 367.1 320.7 323.2 313.6 350.6 437.6 | I | | | | | | | | | | 1977—JAN...| -FEB...| -MAR...1 —APR... | -MAY...| -JUN...| -JUL... | -AUG...I —SEP...| -QCT...| -NOV...| -DEC...| 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 | 197 8—JAN...| 502.7 | * OUTSTANDING LOANS AT END OF PRECEDING M O N T H . 102187. 1 REPAYMENTS 1 I | | | | | | | | | | i I I | I I I 1 I I | | | | | | i | 1 I | | 1 | | t | 1 | I | | | | | | | | 1975-JAN...| —FEB• • • I -MAR...| —APR...| -MAY... | -JUN...| -JUL.. . 1 -AUG... 1 -SEP... | -OCT...I —NOV...I —DEC••• 1 | i PERCENTAGE! THOUSANDS CHANGE I FROM LASTI YEAR | 263.6 337.4 478.0 432.2 449.2 502.8 466.1 442.0 407.4 381.7 330.2 309.2 T A B L E 222.3 FEDERAL LAND BANKS LOANS CLOSED TWELVE-MONTH MOVING TOTAL AMOUNT MILLIONS OF DOLLARS NUMBER PERCENTAGE CHANGE FROM PREVIOUS MONTH 1.6 1975—JAN... -FEB••• —MAR... -APR... -MAY... —JUN... JUL... -AUG... -SEP... -OCT... -NOV... —DEC... 4004.9 4098.5 4193.5 4246.9 4264.8 4296.9 4256.2 4216.9 4220.0 4223.1 4181.1 4219.4 1976—JAN... —FEB... -MAR... -APR... -MAY... -JUN... -JUL... —AUG... -SEP... -OCT... -NOV... —DEC... 4214.4 4214.2 4302.4 4342.1 4326.7 4359.2 4395.3 4427.6 4440.2 4434.2 4522.5 4585.3 1977—JAN... —FEB... -MAR... -APR... -MAY.. -JUN.. -JUL.. -AUG.. -SEP., -OCT.. -NOV.. -DEC.. 4656.1 4738.7 4890.1 4975.0 5129.6 5230.6 5355.7 5437.9 5494.4 5539.4 5607.7 5619.1 1.0 0.8 1.2 0.2 1978—JAN.• 5658.0 0.7 2.3 2.3 1.3 0.4 0.8 -0.9 -0.9 0.1 0.1 -1.0 0.9 -0.1 -0.0 2.1 0.9 -0.4 0.8 0.8 0.7 0.3 —0.1 2.0 1.4 1.5 1.8 3.2 1.7 3.1 2.0 2.4 1.5 | YEAR 24.9 27.3 29.5 28.7 62.8 63.4 63.6 63.4 63.0 62.8 62.2 60.6 60.1 59.6 58.6 58.6 8.4 9.5 10.9 9.7 6.7 7.8 4.6 0.7 -1.7 -2.6 -4.7 —6.2 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 23.7 24.9 24.0 22.5 57.8 58.1 58.5 58.7 59.7 60.4 60.7 61.1 61.4 61.7 62.1 62.0 21.5 62.0 26 .6 24.6 18.2 15.6 12.9 11.6 8.7 7.1 5.2 2.8 2.6 2.2 1.5 1.4 3.3 5.0 5.2 5.0 8.2 8.7 10.5 12.4 13.7 14.6 16.6 20.0 21.9 22.8 * AVERAGE OUTSTANDING LOANS DURING THE PRECEDING 12 M O N T H S AVERAGE SIZE 1 PERCENTAGE| THOUSANDS CHANGE | FROM LAST! YEAR 1 -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 I | I | | | | 1 | | I | | I | j 1 | 1 | | | | | I | | | 7.3 | DOLLARS AS PERCENTAGE OF PERCENTAGE| LOANS | CHANGE | OUT| FROM LAST! S T A N D I N G * | YEAR | I REPAYMENTS 63775. 64619. 65883. 66942. 67697. 66435. 68414 . 69608. 70215. 70866. 71372. 72056. 15.2 16.2 16.7 17.3 16.4 15.6 13.0 14.b 14.8 14.6 14.1 14.2 | 1 | | | | | | | | | | 32.6 32.8 33.0 32.8 32.4 32.1 31.2 30.4 30.0 29.5 28.b 28.6 | | | | | | | 1 1 | | | 478.7 495.5 511.0 519.3 518.1 516.3 507.3 503.3 491.9 489.7 476.9 458.5 72886. 73701. 74412. 75288. 75600. 76105. 77136. 77212. 77608. 77932. 78459. 79480. 14.3 14.1 12.9 12.5 11.7 11.2 12.7 10.9 10.5 10.0 9.9 10.3 | | | | | | | | | | | | 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 | | | 451.0 433.0 423.7 412.5 404.1 399.7 397.5 393.6 389.1 384.5 383.6 386.9 80548. 81622. 83619. 84707. 85983. 86669. 88264. 88970. 89470. 89819. 90369. 90616. 10.5 10.7 12.4 12.5 13.7 13.9 14.4 15.2 15.3 15.3 15.2 14.0 | | | | | | | | | | | | 26.7 26.9 27.4 27.5 28.0 28.2 28.6 28.6 28.6 28.5 28.4 28.2 374.3 376.7 378.9 362.9 385.3 380.1 374.8 375.3 380.7 381.2 381.5 380.6 91260. 13.3 | 28.0 | | | | 1 | | | 1 | | | 1 | (AVERAGE OF END-OF-MONTH D A T A ) . 384.4 14 TABLE 223.1 FEDERAL LAND BANKS NEW MONEY LOANED MILLIONS OF DOLLARS 1 | | 1 PERCENTAGE CHANGE FROM PREVIOUS MONTH | YEAR 1975—JAN... -FEB... -MAR... -APR... -MAY... -JUN... —JUL... -AUG... —SEP... —OC T... -NOV... —DEC.•• 334.4 287.6 367.7 325.6 314.9 306.0 270.2 241.0 248.6 263.9 205.8 312.0 | | | | | | I | i | | I 19.6 -14.0 27.8 -11.4 —3.3 -2.8 -11.7 -10.8 3.2 6.1 -22.0 51.6 I | | I | | | | | | | t 16.9 32.2 25.6 11.3 3.1 6.5 -13.9 -14.4 -4.2 0.0 -20.6 11.6 1976—JAN... —FEB.. . -MAR... -APR... -MAY... —JUN... -JUL... -AUG... -SEP... —OCT... -NOV... —DEC ... 325.0 262.5 440.7 347.3 294.3 324.2 298.3 256.1 255.4 247.6 278.7 345.5 I | | I 1 | | | 1 | | | 4.2 -13.1 56.0 -21.2 -15.3 10.2 -8.0 -14.1 -0.3 -3.0 12.6 23.9 —2 .8 — 1.8 19.9 6.7 —6.5 5.9 10.4 6.3 2.7 -6.2 35.5 10.7 1977—JAN.. . —FEb . . . —MAR... —APR ... -MAY... -JUN... -JUL.•. -AUG... -SEP... -OCT... -NOV... -DEC... 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 | | | | 1 | | | | 8.9 -8.0 59.4 -26.8 0.3 -1.6 -4.2 -18.9 -6.6 -4.6 17.7 9.7 | | | 1 | 1 | | | | | | 1 | | | | 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 1978—JAN... 409.3 I 15.0 | 8.8 i 1 * OUTSTANDING LOANS AT END OF PRECEDING MONTH. AS PERCENTAGE OF LOANS OUTSTANDING* 2.5 2.1 2.6 2.3 2.2 2.1 1.8 1.6 1.6 1.7 1.3 2.0 2.0 1.7 2.7 2.1 1.7 1.9 1.7 1.5 1.4 1.4 1.5 1.9 2.0 1.9 2.9 2.1 2.1 2.0 1.9 1.5 1.4 1.3 1.5 1.7 1.9 # # # TABLE 223.3 # # # # # # # « FEDERAL LAND BANKS NEW MONEY LOANED TWELVE-MONTH MOVING TOTAL MILLIONS I OF | DOLLARS | 1 1975-JAN...I -FEB...I —MAR...j -APR...| -MAY ...! —JUN.•.| —JUL #••I -AUG...| -SEP...| —OCT...! -NOV...| -DEC...I 3388.2 3458.2 3533.1 3566.1 3575.5 3594.1 3550.6 3510.2 3499.3 3499.4 3445.3 3477.6 1976—JAN...| —FEB...| -MAR...j -APR...j -MAY...| —JUN...| -JUL.••I -AUG...1 -SEP...| -OCT...| -NOV...| -DEC...I 3468.2 3463.2 3536.2 3557.9 3537.3 3555.5 3583.6 3598.7 3605.4 3589.1 3662.1 3695.6 1977—JAN...| —FEB...| —MA R...| -APR...j -MAY...I -JUN...I -JUL...j -AUG...I -SEP...I -OCT...I -NOV...| —DEC..•j 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 | j | | | | | | | | | 1 | | 1 | | | | i | | I I I | | 1978—JAN...| 4451.5 | PERCENTAGE CHANGE FROM PREVIOUS MONTH 1.5 2.1 2.2 0.9 0.3 0.5 -1.2 -1.1 -0.3 0.0 -1.5 0.9 | YEAR 1 AS PERCENTAGE OF 1 LOANS OUT—| I STANDING*| LOANS CLOSED 26.5 28.1 29.7 28.1 25.4 22.9 16.2 13.1 10.1 8.8 5.4 4.1 1 1 1 1 1 1 I I 1 1 1 I 27.6 27.7 27.8 27.6 27.1 26.8 26.1 25.3 24.9 24.5 23.7 23.6 1 | | 1 | | | 1 | | | 1 84.6 84.4 64.3 84.0 83.8 83.6 83.4 83.2 82.9 82.9 82.4 82.4 -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 I | | 1 | | | | j | | I | I | 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 I 1 1 1 1 1 I 1 I 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 | | | | | | | | | | | | 82.3 *2.2 82.2 81.9 81.8 81.6 81.5 81.3 81.2 80.9 81.0 60.6 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 | | | | | | | | | | 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 I 1 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 | | 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 0.8 | 18.8 1 22.0 I 78.7 * AVERAGE OUTSTANDING LOANS DURING THE PRECEDING 12 MONTHS (AVERAGE OF END-QF-MONTH DATA). 15 TABLE 224.1 FEDERAL LAND BANKS REFINANCING AND REPAYMENTS REFINANCING OF FEDERAL LAND BANK LOANS MILLIONS OF DOLLARS | | | 1 PERCENTAGE CHANGE FROM PREVIOUS MONTH | YEAR I REPAYMENTS AS PERCENTAGE OF I LOANS CUT—| I STANDING*1 LOANS CLOSED MILLIONS | OF | DOLLARS | 1 PERCENTAGE CHANGE FROM PREVIOUS MONTH 1 YEAR I AS P E R C E N T A G E OF I LOANS O U T I STANDING* 1975—JAN...| —FEB...| -MAR... | —APR... | -MAY... | —JUN... I -JUL...* -AUG...I —SEP...| -OCT... | —NOV...I -DEC... 1 63.5 59.5 71.7 71.1 64.3 66.5 60.7 47.4 62.0 55.7 56.5 62.9 | | | | I | 1 | | | 1 | 11.7 —6.3 20.4 -0.7 -9.6 3.5 -8.7 -22.0 30.9 -10.2 1.4 11.3 | j | 1 | | | | | 1 | I 34.5 65.8 38.7 40.5 15.0 25.6 4.8 2.5 29.2 5.7 27.2 10.5 1 1 1 1 1 I 1 1 | I 1 I 0.47 0.44 0.52 0.50 0.45 0.45 0.41 0.31 0.40 0.36 0.36 0.40 | | | | | | | 1 1 I | I 16.0 17.2 16.3 17.9 17.0 17.9 18.4 16.4 20.0 17.4 21.5 16.8 134.7 64.0 68.2 63.6 63.0 60.6 63.7 53.2 63.3 70.1 80.3 135.4 I | | I | | | | | | | | 46.6 -52.5 6.5 -6.4 -1.2 -3.7 5.1 -16.4 18.9 10.7 14.6 68.6 | | | | | | # | | | | | 4.8 -13.0 —8.6 —4.4 9.1 17.9 11.9 -2.1 46.4 6.6 21.8 47.4 I I I I 1 1 1 1 1 1 1 1 1.00 0.47 0.49 0.45 0.44 0.41 0.43 0.35 0.41 0.45 0.51 0.85 1976—JAN...| — FEB... | -MAR.., | —APR.••| -MAY...| -JUN...| —JUL...| -AUG...I -SEP... | -OCT...I —NOV...| -DEC...| 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 | | | | | | 8.0 -5.2 35.2 2.5 -22.1 16.5 -14.9 -6.1 5.0 -2.7 8.8 28.3 | | | | 1 I | | | 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 1 I 1 1 1 1 I 1 I 1 I 1 0.42 0.40 0.53 0.53 0.41 0.47 0.40 0.37 0.38 0.37 0.40 0.50 | | 1 1 | I | I | I | 1 17.3 18.5 16.5 20.4 19.1 20.0 16.7 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 I | I | t 1 | | | | | | 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 10.6 60.6 61.9 58.3 28.6 32.9 23.7 36.4 25.4 17.2 32.2 4.5 1 1 1 I 1 I 1 1 1 1 I 1 0.93 0.64 0.67 0.60 0.48 0.47 0.45 0.41 0.45 0.46 0.59 0.77 1977—JAN...| -FEB...| —MAR...j —APR... | -MAY...| -JUN...| -JUL...I -AUG...I —SEP...| -OCT...| -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 | | | | | | | | | | | | -4.9 -4.9 52.6 -7.6 -3.5 -5.3 2.6 -15.4 -2.8 -8.0 13.7 -1.5 | | | | | | | | 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 I I 1 1 1 1 1 I 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 1 | | | | | | 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 92.1 123.1 147.7 | 1 | | | | | | | | | | 46.7 -43.6 22.1 -23.3 3.3 10.6 5.0 -29.6 -20.5 25.3 33.6 20.0 | 1 | | | I | | | | | | 39.3 13.8 29.5 8.6 39.9 55.6 67.0 27.6 -7.3 12.1 15.9 4.4 1 1 1 1 1 I 1 1 1 1 1 1 1.12 0.63 0.76 0.57 0.58 0.63 0.65 0.45 0.36 0.44 0.58 0.69 0.44 | 18.6 203.4 | 37.8 | -2.0 1 0.95 1978—JAN...| 93.4 | 0.3 | 6.6 I * OUTSTANDING LOANS AT END OF PRECEDING MONTH. •REFINANCING OF FEDERAL LAND BANK LOANS" IS COMPUTED AS LOANS CLOSED LESS NEW MONEY LOANED. "REPAYMENTS" ARE COMPUTED AS NEW MONEY LOANED LESS THE CHANGE IN LOANS OUTSTANDING. TABLE 224.3 FEDERAL LAND BANKS REFINANCING AND REPAYMENTS TWELVE-MONTH MOVING TOTAL REFINANCING OF FEDERAL LAND BANK LOANS MILLIONS | OF | DOLLARS I 1 1975—JAN...| —FEB.•.j —MAR...| —APR... I -MAY...| -JUN...I -JUL... | -AUG... | -SEP... | -OCT...| -NOV... | —DEC...I 616.7 640.4 660 . 4 680.9 689.2 702.8 705.6 706.7 720.8 723.7 735.8 741.8 1976—JAN...| —FEB••.t —MAR... I —APR... I -MAY.. . | —JUN... | -JUL...I -AUG...| -SEP...I -OCT... I -NOV.. . | -DEC...; 746.2 751.0 766.3 784.2 789.3 803.6 811.7 828.9 834.6 845.1 860.5 889.7 1977-JAN...| —FEB...| —MAR...| —APR...( —MAY ...| -JUN...j -JUL...I -AUG...| -SEP...| -OCT...I -NOV...| —DEC ...j 909.5 928.5 968.6 997.0 1040.9 1067.3 1108.6 1137.1 1159.7 1176.9 1199.7 1200.7 1978—JAN...| 1206.5 | | I | I | 1 | | I | | j 1 | I | | | | | | | I | j | I | 1 | I | | | | | | j | PERCENTAGE CHANGE FROM PREVIOUS MONTH 2.7 3.8 3.1 3.1 1.2 2.0 0.4 0.2 2.0 0.4 1.7 0.8 0.6 0.6 2.0 2.3 0.7 1.8 1.0 2.1 0.7 1.2 1.8 3.4 2.2 2.1 4.3 2.9 4.4 2.5 3.9 2.6 2.0 1.5 1.9 0.1 0.5 | | | I I | | | I | | 1 | i | t | | | | I | | 1 I | i | | | | | | | | | | | | j | YEAR REPAYMENTS AS PERCENTAGE OF LOANS OUT—| STANDING*| LOANS CLOSED MILLIONS | OF | DOLLARS | 1 PERCENTAGE CHANGE FROM PREVIOUS MONTH 16.7 22.9 28.1 32.1 32.9 33.9 28.9 30.3 29.3 27.5 28.0 23.5 5.0 5.1 5.2 5.3 5.2 5.2 5.2 5.1 5.1 5.1 5.1 5.0 | I | | | | 1 | | | | 1 15.4 15.6 15.7 16.0 16.2 16.4 16.6 16.8 17.1 17.1 17.6 17.6 636.7 627.1 820.7 817.6 823.1 832.3 839.0 637.9 858.0 862.3 676.7 920.2 I | I I | | | | 1 | | | 0.6 -1.1 -0.8 -0.4 0.6 1.1 0.8 -0.1 2.4 0.5 1.7 5.0 21.0 17.3 16.0 15.2 14.5 14.3 15.0 17.3 15.8 16.8 16.9 19.9 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 | | | I | | I | 17.7 17.8 17.8 18.1 18.2 18.4 16.5 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 21.9 23.6 26.4 27.1 31.9 32.8 36 .6 37.2 38.9 39.3 39.4 35.0 5.2 5.3 5.4 5.5 5.7 5.8 5.9 6.0 6.0 6.0 6.1 6.0 | | | | | | | | | | | | 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 1449.0 144 3.2 1453.1 1470.1 1476.2 1 | | | | | | | | | | | 32.7 6.0 | 21.3 1472.0 | * AVERAGE OUTSTANDING LOANS DURING THE PRECEDING 12 MONTHS | 4.9 1.1 2.6 0.7 2.5 3.4 3.8 1.4 -0.4 0.7 1.2 0.4 | | I | 1 | | | | | | | 1 1 | | | | | 1 I | I | 1 1 | I I 1 | | | | | | 1 1 -0.3 | (AVERAGE OF END-OF-MONTH DATA). "REFINANCING OF FEDERAL LAND BANK LOANS* IS COMPUTED AS LOANS CLOSED LESS NEW MONEY LOANED. •REPAYMENTS" ARE COMPUTED AS NEW MONEY LOANED LESS THE CHANGE IN LOANS OUTSTANDING. YEAR AS P E R - | CENTAGE 0F1 LOANS UUT-1 STANDING*! 3.9 1.1 —0.5 -1.6 —0.8 0.9 1.0 1.1 3.7 3.0 6.6 10.8 6.8 6.6 6.5 6.3 6.2 6.2 6.2 6.0 6.1 6.0 6.0 6.2 | j | | | | | i | | | | 11.7 17.7 23.7 26.7 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 6.6 6.8 6.9 6.9 6.9 6.9 6.9 | | j | j j | | 1 | | | 33.1 29.3 27.1 23.4 24.4 26.2 29.2 28.6 26.5 26.0 24.7 24.6 7.1 7.1 7.2 7.2 7.3 7.4 7.6 7.6 7.5 7.5 7.5 7.4 I | | | 1 I | 1 | | | | 18.4 7.3 | AGRICULTURAL FINANCE D A T A B O O K — M O N T H L Y SERIES 230 FEBRUARY 1978 LIFE INSURANCE COMPANIES 231 FARM MORTGAGES OUTSTANDING 231.1 232 FARM MORTGAGES ACQUIRED 232.1 232.3 233 ACTUAL 12-MCNTH MOVING TOTAL FARM MORTGAGE COMMITMENTS OUTSTANDING 233.1 SOURCE: ACTUAL ACTUAL "MONTHLY STATISTICAL REPORT," AMERICAN COUNCIL OF LIFE INSURANCE. 21 « TABLE 231.1 LIFE INSURANCE COMPANIES FARM MORTGAGES OUTSTANDING END OF MONTH 1 1 1 1 1 MILLIONS OF DOLLARS AMOUNT 1 1 CHANGE FROM PREVIOUS| 1 MONTH | YEAR | PERCENTAGE CHANGE FROM PREVIOUS MONTH | 1 1975-JAN.•.I —FEB.. . | -MAR...| -APR...| -MAY...| -JUN...I -JUL...i -AUG...I -SEP...I —DC T...I -NOV... | —DEC. • • 1 I 1976—JAN...| -FEB... 1 -MAR... | —APR... | -MAY...| —JUN...| -JUL...| —AUG.*.I -SEP...I -OCT... I -NOV...I -DEC...| 6300. 6394. 6428. 6504. 6543. 6573. 6584. 6606. 6631. 6661. 6679. 6753. -27. 94. 34. 76. 39. 30. 11. 22. 25. 30. 18. 74. | | | | | | | | | 1 | 1 334. 429. 429. 469. 469. 445. 396. 384. 384. 381. 387. 426. | | | | | I | | | | | I -0.4 1.5 0.5 1.2 0,6 0.5 0.2 0.3 0.4 0.5 0.3 1.1 6744. 6781. 6827. 6873. 6941. 7000. 7068. 7124. 7181. 7217. 7286. 7418. -9. 37. 46. 46. 68. 59. 68. 56. 57. 36. 69. 132. | | | | | 1 | 1 | | | | 444. 387. 399. 369. 398. 427. 484. 518. 550. 556. 607. 665. -0.1 0.5 0.7 0.7 1.0 0.9 1.0 0.8 0.8 0.5 1.0 1.8 1977—JAN... | —FEB ... I -MAR...I -APR...I -MAY...| -JUN...I -JUL...I -AUG...I -SEP...| -OCT...I -NOV... I 7428. 7513. 762 5. 7816. 7926. 8140. 8236. 8331. 8475. 8569. 8648. 10. 85. 112. 191. 110. 214. 96. 95. 144. 94. 79, i | | | | 1 | | | 1 | 684. 732. 798. 943. 985. 1140. 1168. 1207. 1294. 1352. 1362. | 1 | | | | | | | | | | 1 | I | | 1 I | | | | | | I 1 | | I 1 | | | | # 1 | | 1 | | | | I | | | 1 0.1 1.1 1.5 2.5 1.4 2.7 1.2 1.2 1.7 1.1 0.9 | | 1 | | | | | | 1 | YEAR 5.6 7.2 7.2 7.8 7.7 7.3 6.4 6.2 6.1 6.1 6.2 6.7 7.0 6.1 b.2 5.7 6.1 6.5 7.4 7.8 8.3 8.3 9.1 9.8 10.1 10.b 11.7 13.7 14.2 16.3 16.5 16.9 18.0 18.7 18.7 19 TABLE 232.1 LIFE INSURANCE COMPANIES FARM MORTGAGES ACQUIRED 1 1 1 1 1 MILLIONS OF DOLLARS AMOUNT | 1 CHANGE FROM PREVIOUS| 1 MONTH | YEAR | PERCENTAGE CHANGE FROM PREVIOUS MONTH 197 5—JAN...| -FEB ...| —MAR...| -APR...| -MAY...| -JUN...I —JUL ... I -AUG...I -SEP...| -OCT...I -NOV...| -DEC...| 80. 164. 119. 120. 75. 75. 55. 53. 62. 54. 65. 153. -17. 84. -45. 1. -45. 0. -20. -2. 9. -8. 11. 88. | | | I | t 1 | 1 | | | —9. 100. —5. 28. -20. —22. -41. -20. 7. -18. 12. 56. | | | | | | | | I | I | -17.5 105.0 -27.4 0.8 -37.5 0.0 -26.7 -3.6 17.0 -12.9 20.4 135.4 1976—JAN...| —FEB.•.| —MAR...| —APR...| —MAY...| -JUN...| —JUL.•.| -AUG...I -SEP...! -OCT...I —NOV...| —DEC ... I | 1977—JAN... I -FE B.•.I -MAR...| -APR...| -MAY...| -JUN...I -JUL...| -AUG...I -SEP...| -OCT...I —NOV...| 100. 116. 136. 128. 125. 131. 138. 106. 123. 79. 116. 242. -53. 16. 20. -8. —3. 6. 7. -32. 17. -44. 37. 126. 1 | | I | | | | | 1 | 1 20. -48. 17. 8. 50. 56. 83. 53. 61. 25. 51. 89. | | | | | | | | | 1 1 | 160. 156. 233. 256. 214. 278. 168. 188. 209. 144. 135. -82. -4. 77. 23. -42. 64. -110. 20. 21. -65. —9. | | | 1 | | | | | | \ 60. 40. 97. 128. 89. 147. 30. 82. 86. 65. 19. 1 I | | | 1 | | | 1 | YEAR -10.1 156.3 —4.0 30.4 -21.1 -22.7 -42.7 -27.4 12.7 -25.0 22.6 57.7 —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 | 1 | | 1 | | | | 1 1 | I I -33.9 -2.5 49.4 9.9 -16.4 29.9 -39.6 11.9 11.2 -31.1 —6.3 | | | | | | | | | | | 60.0 34.5 71.3 100.0 71.2 112.2 21.7 77.4 69.9 82.3 16.4 * OUTSTANDING MORTGAGES AT END OF PRECEDING MONTH. 1 1 25.0 -29.3 14.3 6.7 66.7 74.7 150.9 100.0 98.4 46.3 78.5 58.2 AS PERCENTAGE OF MORTGAGES OUTSTANDING* 1.3 2.6 1.9 1.9 1.2 1.1 0.8 0.8 0.9 0.8 1.0 2.3 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 16 . TABLE 232.3 LIFE INSURANCE COMPANIES FARM MORTGAGES ACQUIRED TWELVE—MONTH MOVING TOTAL 1 1 1 1 1 MILLIONS OF DOLLARS AMOUNT 1975—JAN*•.1 -FEB...| —MAR• • • | -APR...| -MAY... | -JUN...I -JUL...| —AUG...| -SEP...I -OCT...I -NOV...I -DEC... | 1 1976-JAN...1 -FEB...| —MAR...1 —APR.• . | -MAY... 1 -JUN...| -JUL...| -AUG...1 -SEP... I -OCT...I —NOV.e.| -DEC ... 1 1 1977-JAN.••| -FEB...I —MAR...I —APR.e.1 -MAY...| -JUN...| —JUL ...1 -AUG...| —SEP...1 -OCT...I -NOV ...| 1 1 CHANGE FROM PREVIOUS I 1 YEAR | MONTH | 998. 1098. 1093. 1121. 1101. 1079. 1038. 1018. 1025. 1007. 1019. 1075. -9. 100. -5. 28. -20. -22. -41. -20. 7. -18. 12. 56. | I | | I | | I I | I I -34. 64. 33. 45. 11. -18. -72. -76. -49. —67. -12. 68. 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 1 | | I 1 I I I I 97. —51. -29. -49. 21. 99. 223. 296. 350. 393. 432. 465. 1600. 1640. 1737. 1865. 1954. 2101. 2131. 2213. 2299. 2364. 2383. 60. 40. 97. 128. 89. 147. 30. 82. 86. 65. 19. 1 I | | | | 1 | | | | 505. 593. 673. 793. 832. 923. 670. 899. 924. 964. 932. I | | I I | | | | | | I 1 | I 1 | I | | I 1 1 | I i | | ( | | I 1 | | I | PERCENTAGE CHANGE FROM PREVIOUS MONTH -0.9 10.0 -0.5 2.6 -1.8 -2.0 -3.8 -1.9 0.7 -1.8 1.2 5.5 1.9 -4.4 1.6 0.8 4.7 5.0 7.0 4.2 4.6 1.8 3.6 6.1 3.9 2.5 5.9 7.4 4.8 7.5 1.4 3.8 3.9 2.6 0.8 | 1 | 1 I I I I I I 1 | I I i | | I | | 1 I I 1 1 | 1 i | | | | | | | | | I | YEAR I AS PERC E N T A G E OF 1 MORTGAGES 1 OUT1 STANDING* -3.3 6.2 3.1 4.2 1.0 -1.6 —6.5 -7.1 —4.6 —6 .2 -1.2 6.8 1 1 I ! I I 1 1 1 I 1 1 16.2 17.tt 17.6 18.0 17.5 17.1 16.3 15.9 16.0 15.6 15.7 16.5 9.7 —4.6 -2.7 -4.4 1.9 9.2 21.5 29.1 34.1 39.0 42.4 43.3 I I I 1 1 I 1 1 1 1 I I 16.7 15.9 16.1 16.1 16.8 17.5 18.7 19.3 20.1 20.3 20.9 22.1 46.1 56.6 63.3 74.0 74.2 78.4 69.0 68.4 67.2 68.9 64.2 I 1 I I I I 1 | I I j 22.7 23.1 24.3 25.8 26.8 28.5 2b.5 29.2 29.9 30.4 30.2 * AVERAGE OUTSTANDING MORTGAGES DURING THE PRECEDING 12 MONTHS (AVERAGE OF END-OF-MONTH DATA). 22 TABLE 233.1 LIFE INSURANCE COMPANIES OUTSTANDING FARM MORTGAGE COMMITMENTS END OF MONTH PERCENTAGE CHANGE FROM PREVIOUS MILLIONS OF DOLLARS AS PERCENTAGE OF MORTGAGES CHANGE FROM PREVIOUS 1 1 AMOUNT 197 5—JAN.••| -FEB...| -MAR...I -APR...1 -MAY...| —JUN...| —JUL ... I -AUG...| -SEP...I -OCT...I -NOV...| —DEC ... 1 1 1 1976—JAN...| -FEB...| —MAR.*.| —APR...| -MAY...1 -JUN...I —JUL...I -AUG...I -SEP...I —OC T • • . I —NOV... 1 -DEC...I 1 1 1977—JAN...| -FEB...I -MAR...I -APR...| —MAY ...| -JUN...I -JUL ...| —AUG...I -SEP...I -OCT...! -NOV...I 496.0 500.0 466.0 430.0 413.0 399.0 399.0 405.0 438.0 473.0 506.0 459.0 466.0 477.0 479.0 501.0 482.0 490.0 487.0 494.0 520.0 582.0 592.0 553.0 567.0 614.0 603.0 663.0 680.0 671.0 673.0 696.0 745.0 769.0 782.0 | 1 | | | | | | | I | I | I 1 1 | | | | | | | 1 I | | | j | | | j | | | | | | | MONTH -74.0 4.0 -34.0 -36.0 -17.0 -14.0 0.0 6.0 33.0 35.0 33.0 -47.0 7.0 11.0 2.0 22.0 -19.0 8.0 -3.0 7.0 26.0 62.0 10.0 -39.0 14.0 47.0 -11.0 60.0 17.0 -9.0 2.0 23.0 49.0 24.0 13.0 | YEAR | | | | | | I | | | | | j 1 1 I | | | | J | | | | j | 1 | | | I | I | | I 51.0 -14.0 -54.0 -105.0 -220.0 -241.0 -206.0 -226.0 -198.0 -144.0 -89.0 -111.0 1 | MONTH | 1 YEAR OUTSTANDING ACQUIRED IN MONTH 11.5 -2.7 -10.4 -19.6 -34.8 -37.7 -34.0 -35.8 -31.1 -23.3 -15.0 -19.5 7.9 7.8 7.2 6.6 6.3 6.1 6.1 6.1 6.6 7.1 7.6 6.8 620.0 304.9 391.6 358.3 550.7 532.0 725.5 764.2 706.5 875.9 778.5 300.0 1.5 2.4 0.4 4.6 -3.8 1.7 —0.6 1.4 5.3 11.9 1.7 -6.6 | | | | 1 1 | | | 1 | | i | | | | | | j | | | | | -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 6.1 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 2.5 8.3 -1.8 10.0 2.6 -1.3 0.3 3.4 7.0 3.2 1.7 | » | | 1 1 1 | | | 1 21.7 28.7 25.9 32.3 41.1 36.9 38.2 40.9 43.3 32.1 32.1 7.6 8.2 7.9 8.5 6.6 8.2 8.2 8.4 8.8 9.0 9.0 354.4 393.6 258.8 259.0 317.8 241.4 400.6 370.2 356.5 534.0 579.3 -13.0 0.8 -6.8 -7.7 -4.0 -3.4 0.0 1.5 8.1 8.0 7.0 -9.3 -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 | | | | | I | 1 | | I j | I | I | | I | | | | | 101.0 137.0 124.0 162.0 198.0 181.0 186.0 202.0 225.0 187.0 190.0 | 1 | I | | | | | | | ^ /x - A G R I C U L T U R A L F I N A N C E D A T A B O O K — M O N T H L Y SERIES 300 L F E B R U A R Y 1978 A G R I C U L T U R A L B A N K I N G DATA 301 FARM N O N - R E A L - E S T A T E 301.1 302 310 A M O U N T AND C H A N G E FROM PREVIOUS Y E A R . SEASONAL 302.1 LOANS 24 BORROWING BY MEMBER BANKS NUMBER OF BANKS AND AVERAGE DAILY BORROWING 25 D E P O S I T S AND LOANS AT AGRICULTURAL BANKS 311 FEDERAL R E S E R V E D I S T R I C T S 7 AND 9 311.3 312 PERCENTAGE C H A N G E FROM PREVIOUS YEAR, AND LOAN/DEPOSIT RATIO F E D E R A L R E S E R V E DISTRICT 312.3 PERCENTAGE 26 6 AND TEXAS CHANGE FROM PREVIOUS YEAR, AND L O A N / D E P O S I T RATIO 27 FOR I N F O R M A T I O N ON THE DESIGN OF THE SEASONAL BORROWING PRIVILEGE FOR WHICH DATA ARE SHOWN IN SECTION 3 0 2 , AND ALSO AN ANALYSIS OF ITS POTENTIAL AND ACTUAL USE BY AGRICULTURAL BANKS, SEE "SEASONAL BORROWING AT THE FEDERAL R E S E R V E DISCOUNT W I N D O W , " BY EMANUEL MELICHAR AND HARRIET H O L D E R N E S S , AGRICULTURAL P1 NANCE- R E V I E W . OCTOBER 1974, P P . 4 2 - 5 1 . FOR A BRIEF DISCUSSION OF THE ANALYTICAL VALUE OF THE DATA IN SECTION 310, SEE THE SECTION E N T I T L E D "FREQUENT DEPOSIT AND LOAN D A T A " IN "OVERALL M E A S U R E S OF FINANCIAL P E R F O R M A N C E , " BY EMANUEL M E L I C H A R , AGRICULTURAL FINANCE R E V I E W , FEBRUARY 1977, PP. 87-88. 23 FARM N O N - R E A L - E S T A T E LOANS AT C O M M E R C I A L B A N K S (END OF M O N T H ) TABLE 301.1 AMOUNT LARGE BANKS (MILLIONS OF DOLLARS) 1975—JAN.. -FEB.. -MAR.. -APR.• -MAY.. —JUN.. -JUL.. —AUG.. -SEP.. -OCT.. -NOV.. -DEC.. 3599. 3498. 3390. 3425. 3397. 3458. 3549. 3581. 3631. 3597. 3547. 3640. 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.. 4639. 4525. C H A N G E FROM PREVIOUS YEAR ALL C O M M E R C I A L BANKS (BILLIONS OF D O L L A R S ) ACTUAL 18.1 18.1 18.3 18.5 18.7 19.1 19.4 19.7 19.9 19.9 19.9 20.2 20.2 20.3 20.5 21.2 21.6 22.2 22.4 22.6 22.9 23.0 23.1 23.3 SEASONALLY ADJUSTED 18.6 18.4 18.5 18.7 18.5 18.7 19.0 19.4 19.7 19.9 20.1 20.4 20.6 20.7 20.7 21.3 21.5 21.8 22.0 22.3 22.7 23.0 23.3 23.5 23.7 24.0 25.6 25.2 26.3 26.0 LARGE BANKS (MILLIONS OF DOLLARS) -102. -238. -398. -382. -391. -380. -308. -268. -106. -112. -178. -9. 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. PERCENTAGE C H A N G E FROM PREVIOUS YEAR ALL COMMERCIAL B A N K S (BILLIONS OF D O L L A R S ) ACTUAL 0.8 0.6 0.6 0.6 0.6 0.7 0.9 1.1 1.4 1.6 1.6 2.0 2.1 2.2 2.2 2.7 2.9 3.1 3.0 2.9 3.0 3.1 3.2 3.1 24 LARGE BANKS ACTUAL SEASONALLY ADJUSTED 0.8 0.6 0.6 -6.4 -10.5 0.6 0.6 -10.3 -9.9 0.7 0.9 1.2 1.4 1.6 1.6 1.8 2.0 2.3 2.2 2.6 3.0 3.1 3.0 2.9 3.0 3.1 3.2 3.1 3.2 3.3 3.4 3.4 3.4 3.3 ALL C O M M E R C I A L B A N K S -2.8 -10.0 -8.0 —7 .0 -2.8 -3.0 -4.8 4.6 3.4 3.4 3.4 3.3 3.8 4.9 5.9 7.6 8.7 8.7 -0.2 11.0 1.3 3.7 9.4 11.6 12.2 11.8 11.0 14.6 15.5 SEASONALLY ADJUSTED 4.5 3.4 3.4 3.9 3.4 3.3 5.0 6.6 7.7 8.7 8.6 9.7 10.8 12.5 11.9 13.9 16.2 16.6 13.0 14.5 12.7 16.5 17.0 18.9 15.5 14.7 15.3 15.6 17.1 15.3 15.8 14.9 15.3 15.6 15.9 15.2 15.8 15.8 15.5 15.5 14.6 14.6 20.0 16.4 14.8 15.0 14.9 19.3 18.6 18.6 14.1 12.9 12.2 16.2 16.1 10.4 10.3 9.3 8.6 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 330 C O M M E R C I A L BANKS THAT SUBMIT 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 H A D TOTAL DEPOSITS IN EXCESS OF $100 M I L L I O N AS OF DECEMBER 31, 1 9 6 5 . THESE DATA SHOWN FOR ALL C O M M E R C I A L BANKS ARE FROM CALL R E P O R T S A V A I L A B L E FOR JUNE AND DECEMBER 1975 AND Q U A R T E R L Y STARTING IN M A R C H 1 9 7 6 (MARCH AND SEPTEMBER 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 E S T I M A T E S . DATA FOR SePT. 1977 ARE P R E L I M I N A R Y E S T I M A T E S . TABLE 302.1 MEMBER BANK BORROWING UNDER SEASONAL BORROWING PRIVILEGE WEEK ENDING ON LAST WEDNESDAY OF MONTH NUMBER OF BANKS 1 1 1 1 1 1 1 1 AVERAGE DAILY SEASONAL B0RR0W1N( 1 (THOUSANDS OF DOLLARS) (DEPOSIT SIZE OF BANK TOTAL (DEPOSIT SIZE OF BANK I UP TO I $100 I MILLION OVER | $100 1 | MILLION 0. 0. 0. 0. 2. 2. 1. 2. 6. 5. 2. 0. 1 1 1 1 I 1 1 1 1 1 I I 10101. 9713» 6744. 7080. 8843. 10518. 22602. 40110. 66018. 59673. 25704. 12850. I 1 I 1 I 1 I 1 I I 1 I 10101. 9713. 6744. 7080. 5914. 6875. 15888. 31110. 35532. 35673. 21204. 12850. | | | | | | | | | | | I 0. 0. 0. 0. 2929. 3643. 6714. 9000. 30486. 24000. 4500. 0. 7. 10. 17. 20. 21. 41. 37. 39. 48. 38. 31. 19. | | | | 1 | I | | i I | i 1 | | | I | | | | | | | 1 0. 0. 0. 0. 0. 1. 1. 1. 1. 2. 0. 0. 1 1 1 1 1 1 1 I 1 1 1 1 8267. 8233. 9605. 11153. 11637. 27898. 25957. 23354. 33618. 33297. 27215. 9970. I I 1 1 I I I 1 I I 1 I 8267. 8233. 9605. 11153. 11637. 25898. 20243. 17354. 29618. 29154. 27215. 9970. | | 1 I | | | | | | | | 0. 0. 0, 0. 0. 2000. 57 14. 6000. 4000. 4143. 0. 0. 8. 10. 17. 21. 44. 55. 59. 89. 83. 74. 45. 31. | | | | | | | | | | 1 1 0. 0. 0. 0. 1. 4. 4. 10. 9. 7. 6. 3. 1 I 1 1 I 1 I I I I I I 8113. 11353. 14161. 15030. 34503. 70158. 68701. 130235. 115456. 116094. 74268. 52761. 1 1 1 1 I 1 1 1 I I I I 8113. 11353. 14161. 15030. 32503. 45658. 48508. 80936. 73456. 74794. 41466. 34461. | | I | | | | | | | | | 0. 0. 0. 0. 2000. 24500. 20193. 49299. 42000. 41300. 32600. 18300. 35588. | 52858. | 0. 0. 1975-JAN..,| -FEB...I —MAR*•*| -APR...I —MAY•*•I —JUN.••| —JUL...1 —AUG*.*| -SEP...I -OCT•••I -NOV...| -DEC..* 1 12. 15. 10. 9. 13. 17. 29. 39. 40. 40. 23. 13. 1976—JAN...| —FEB••• I -MAR... | -APR...| -MAY...| —JUN... I —JUL.. .I -AUG...| -SEP...I -OCT...| —NOV... 1 —DEC ... I j 1 1977—JAN...| —FEB...1 -MAR...| —APR...| —MAY ... I -JUN...1 —JUL...| —AUG..*| -SEP...I -OCT...I -NOV...1 -DEC...1 1 1 1978—JAN...| -FEB...I 7. 10. 17. 20. 21. 42. 36. 40. 49. 40. 31. 19. I 1 I 1 1 1 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 1 1 1 1 1 8. 10. 17. 21. 45. 59. 63. 99. 92. 81. 53. 34. 1 1 1 1 1 1 1 1 1 1 1 1 23. 1 31. 1 12. 15. 10. 9. 11* 15. 28. 37. 34. 35. 21. 13. 23. I 31. | 1 0. I 0. 1 TOTAL I UP TO 1 $100 I MILLION 35588. I 52858. 1 DEPOSIT SIZE CLASSIFICATION IS BASED ON AVERAGE DEPOSITS IN 1972. | OVER | $100 | MILLION 26 TABLE 311.3 DEPOSITS AND LOANS AT AGRICULTURAL BANKS SEVENTH AND NINTH FEDERAL RESERVE DISTRICTS 1 1 1 I 1 I 1 1 1975—JAN.•.| -FEB...I -MAR...| —APR...| -MAY... | —JUN..*| -JUL...| —AUG...| -SEP...| -OCT...1 -NOV...| -DEC...; 1 1976—JAN...| -FEB...| -MAR...1 -APR...j -MAY...| -JUN...I -JUL...| -AUG...| -SEP...I —OCT...| -NOV ...| -DEC ...j j 1977-JAN...| -FEB...1 -MAR...| -APR ...| -MAY...| —JUN.•.j -JUL...| -AUG...I -SEP... | -OCT...I —NOV... I -DEC...| | 1978—JAN...| SEVENTH FEDERAL RESERVE DISTRICT (CHICAGO) 1 | 1 PERCENTAGE CHANGE FROM PREVIOUS YEAR DEPOSITS TOTAL DEMAND 1 TIME 1 1 1 LOANS 1 | 1 LOANDEPOSIT RATIO NINTH FEDERAL RESERVE DISTRICT (MINNEAPOLIS) SECOND WEDNESDAY OF MONTH PERCENTAGE CHANGE FROM PREVIOUS YEAR DEPOSITS 1 TOTAL 1 DEMAND 10.3 8.4 8.8 8.8 9.3 11.0 11.9 12.1 12.5 13.0 13.9 12.1 0.8 -3.8 -3.2 -3.0 -3.3 0.7 1.8 1.6 4.1 4.9 8.6 1.6 16.6 16.2 16.0 15.9 16.8 16.8 17.9 18.1 17.6 17.9 17.3 18.6 | | | 1 | | | 1 | | ( | 14.1 14.4 15.2 15.2 14.6 13.6 12.2 12.1 12.7 13.9 13.9 16.6 | | | | I | 1 | | | | | 0.525 0.526 0.532 0.527 0.542 0.536 0.533 0.530 0.528 0.524 0.526 0.539 1 1 1 1 1 I 1 1 1 1 1 1 8.8 7.6 5.4 5.6 7.7 9.6 9.7 7.4 11.0 9.9 10.7 11.3 1.1 -3.0 -7.9 -6.9 —2 .6 1.5 0.9 —6.5 3.8 3.1 3.6 4.6 11.5 12.1 12.5 12.9 13.8 13.2 11.8 11.5 12.0 11.7 10.6 11.5 1.5 4.0 5.4 6.2 8.5 7.5 5.2 5.3 5.4 3.2 0.5 3.9 18.2 17.5 17.2 17.4 17.6 17.5 16.7 16.4 17.7 18.7 17.7 17.9 15.1 15.3 15.1 16.5 20.7 16.8 17.7 18.5 18.6 18.8 18.5 18.1 | | | | 1 1 | 1 I 1 | | 0.537 0.537 0.543 0.545 0.572 0.551 0.560 0.561 0.558 0.555 0.561 0.568 I 1 1 1 1 1 I 1 1 1 I 1 9.6 10.1 8.2 9.6 9.0 8.6 8.3 8.9 7.9 9.3 8.3 8.0 —0.6 3.0 1.2 5.4 4.3 3.6 2.9 4.3 0.4 1.8 0.5 -0.0 11.5 11.1 11.8 12.3 12.3 11.5 10.7 10.5 9.7 8.5 9.0 9.5 3.1 2.0 4.5 5.7 5.4 3.8 1.2 1.1 -1.1 -2.6 0.6 2.3 18.0 17.5 17.5 17.5 17.7 17.8 18.3 17.7 17.2 15.8 15.0 15.3 | | | | | | | | 1 | | | j | | 1 | | | | 1 | 1 1 | 0.574 0.574 0.581 0.578 0.586 0.593 0.612 0.617 0.621 0.623 0.619 0.621 1 1 1 1 t 1 1 1 1 1 1 1 7.4 7.2 8.8 8.7 9.1 8.6 8.0 7.8 8.5 7.7 7.6 7.4 -0.8 -1.1 0.8 0.2 1.2 1.0 0.8 -0.1 3.3 2.1 3.0 3.2 9.8 4.4 9.2 | | 1 | I | 1 | 1 | | | | j 17.5 | 0.615 j********* ********* 20.1 19.6 20.6 20.0 15.8 20.8 23.0 22.6 23.2 22.4 20.8 20.4 1 TIME 1 13.4 1 13.2 1 12.8 1 12.2 1 12.8 1 13.5 1 14.0 1 14.4 1 14.5 1 13.2 1 14.1 I 14.6 1 1 14.9 ! 13.3 1 11.3 1 11.4 1 11.0 1 10.8 1 10.6 1 10.9 1 11.1 1 12.6 1 11.8 1 11.6 1 1 11.1 1 10.6 1 12.1 1 12.2 1 12.2 1 11.7 I 10.8 1 11.0 1 10.6 1 10.0 1 9.4 1 9.1 i i |********* 1 1 1 LOANS | 13.6 | 12,3 | 13.3 | 13.4 I 11.1 | 9.4 | 10.2 | 9.2 | 9.5 | 7.9 | 8.6 | 11.8 1 | 9.1 | 12.8 | 11.3 1 10.5 | 10.9 | 13.0 1 11.3 | 12.4 1 13.4 14.0 1 | 14.4 | 12.6 i | 12.4 | 12.9 | 14.7 | 14.3 | 14.3 I 13.4 | 14.9 | 14.4 | 13.4 1 14.0 | 14.7 1 13,7 i I |********* 1 I 1 1 1 | | 1 1 LOAN1 DEPOSIT | RATIO 1 | 1 1 1 1 1 1 1 I 1 1 1 1 1 I 1 1 I 1 1 I 1 1 1 I 1 1 1 1 I 1 1 1 I 1 I I I I 0.607 0.619 0.616 0.622 0.635 0.640 0.645 0.649 0.654 0.650 0.644 0.642 0.635 0.651 0.650 0.654 0.665 0.669 0.686 0.689 0.684 0.688 0.687 0.680 | | | I 1 | | | | | | | 1 | | | | I | | | | | | | 1 I § | | | | | | | | | | j********* j DATA PGR THE SEVENTH DISTRICT COVER MEMBER BANKS HAVING A RELATIVELY LARGE PROPORTION OF AGRICULTURAL LOANS AND LOCATED IN TOWNS WITH POPULATION UNDER 15,000. DATA FOR THE NINTH DISTRICT COVER MEMBER BANKS AT WHICH AGRICULTURAL LOANS EXCEEDED 20 PERCENT OF TOTAL LOANS AS OF JUNE 1969. FOR BOTH DISTRICTS, LOANS ARE GROSS LOANS LESS FEDERAL FUNDS SOLD AND SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL. 0.609 0.604 0.599 0.617 0.624 0.616 0.627 0.629 0.622 0.623 0.610 0.616 • » • • i * • • • • • • • -~t * ! • • TABLE 312.3 DEPOSITS AND LOANS AT AGRICULTURAL BANKS SIXTH FEDERAL RESERVE DISTRICT AND TEXAS SIXTH FEDERAL RESERVE DISTRICT (ATLANTA) MONTHLY AVERAGE ENDING SECOND WEDNESDAY OF MONTH PERCENTAGE CHANGE FROM PREVIOUS YEAR DEPOSITS TOTAL DEMAND 1 TIME LOANS 1 I I I 1 TEXAS | PERCENTAGE CHANGE LOAN- I FROM PREVIOUS YEAR DEPOSIT 1 DEPOSITS 1 LOANS RATIO 1 1 ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* 1 ********* ********* |********* 0.583 I ********* ********* I 0.580 1 ********* ********* I 0.570 1 ********* ********* | 0.582 1 ********* ********* I 0.579 i********* ********* I 0.578 1 ********* ********* | j ********* ********* I 0.583 0.561 1 ********* ********* 1 0.581 1 ********* ********* I 0.582 1 ********* ********* I 0.580 1 ********* ********* 1 1 I I I 1 I 1 1 1 1 1 1 -1.2 -0.7 1.4 2.4 4.7 6.4 8.0 9.7 11.6 13.1 14.0 14.0 i | | | | | | | | | | | 11.4 9.0 7.1 6.3 5.0 4.8 4.2 4.3 4.7 6.0 7.6 10.7 ********* 1976—JAN. -FEB. e # 8.5 - M A R .* # 10.5 -APR. # # 11.1 -MAY .* # 11.7 -JUN. # * 10.7 -JUL. * * 10.2 —AUG. e * 10.4 -SEP. # # 10.1 -OCT. # # 11.0 -NOV. e # 12.1 12.3 —DEC. • • ********* 9.9 8.5 8.7 10.3 9.4 9.0 8.6 7.2 7.1 8.2 9.1 j ********* 1 10.5 1 11.7 1 12.4 I 12.5 1 11.5 1 11.5 I 11.4 1 11.8 1 13.2 1 14.2 I 14.2 ********* 6.7 b.5 11.3 13.1 13.0 14.0 14.4 14.9 14.4 14.5 15.1 I 1 1 1 1 1 1 1 I 1 1 I 0.570 0.573 0.569 0.572 0.589 0.591 0.598 0.605 0.606 0.598 0.595 0.594 1 1 1 1 1 1 I 1 1 1 1 I 15.9 15.4 15.0 15.3 14.1 12.9 12.1 10.5 10.1 10.0 10.2 11.3 | fi I I | | | | | | 1 1 10.8 12.1 13.0 14.4 16.4 18.2 19.6 21.3 21.3 20.9 20.3 17.6 1 1 1 I 1 1 I 1 1 1 1 I 0.592 0.598 0.598 0.599 0.616 0.628 0.632 0.643 0.644 0.646 0.642 0.636 1975—JAN. -FEB. . . -MAR.e . —APR. . . -MAY. # # -JUN. . e -JUL. • . -AUG. e . -SEP. + e -OCT. . . -NOV. e . -DEC. • • 1977—JAN. -FEB.. . -MAR.# * -APR. • 9 -MAY.* * -JUN. * # -JUL. * * -AUG. • * -SEP. * * -OCT. * * -NOV. • * -DEC. 1978—JAN. .. 11.7 10.3 10.3 10.3 10.0 10.1 10.9 10.8 10.8 9.3 9.7 10.7 7.0 5.2 5.5 5.6 4.6 4.0 5.3 4.6 4.4 3.4 4.5 5.9 1 1 I I I I I 1 I I I I 14.5 13.2 12.5 13.0 13.0 13.4 13.9 14.0 14.2 12.4 12.5 13.4 16.1 15.0 15.9 15.7 15.0 17.0 17.2 17.7 17.7 18.0 18.5 18.5 11.1 8.5 1 12.5 16.9 1 1 11.9 1 11.7 1 11.0 1 11.1 1 10.8 1 10.7 1 10.9 1 11.2 1 11.5 1 11.4 1 11.3 1 11.0 i 0.623 |********* | 17.0 | 17.8 | 18.5 19.6 I 19.3 1 | 18.8 18.6 I | 18.6 | 18.8 | 17.8 | 16.8 17.6 I i j********* 1 I I I 1 1 1 1 1 LOAN| DEPOSIT | RATIO | 1 I 0.501 1 0.491 1 0.490 I 0.491 I 0.497 I 0.493 1 0.489 I 0.485 I 0.487 I 0.488 I 0.486 1 0.494 1 I 0.479 1 0.477 1 0.482 1 0.487 I 0.507 1 0.516 1 0.522 I 0.533 I 0.536 I 0.536 1 0.531 1 0.521 1 1 0.501 1 0.503 1 0.514 1 0.524 1 0.546 1 0.554 1 0.559 1 0.568 1 0.571 1 0.567 1 0.557 1 0.552 1 I ********* | | 1 | I | | | 1 | | | 1 | | | | | | | | | | | | 1 | | 1 | | | | I | | I | 1 | DATA FOR THE SIXTH DISTRICT ARE FOR MEMBER BANKS AT WHICH AGRICULTURAL LOANS COMPRISE 15 PER CENT OR MORE OF TOTAL LOANS. DATA FOR TEXAS ARE FOR A SAMPLE OF MEMBER BANKS AT WHICH AGRICULTURAL LOANS COMPRISE 25 PER CENT OR MORE OF TOTAL LOANS. FOR BOTH DISTRICTS? LOANS ARE GROSS LOANS LESS FEDERAL FUNDS SOLD AND SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL. 27 28 Recent Federal Reserve Publications in Agricultural Finance "Farm Finance—Current Developments in Perspective," by Emanuel Melichar, Agricultural Finance Commentary, Board of Governors of the Federal Reserve System, November 1977. Agricultural Finance Databook—Annual Series, by Emanuel Melichar and Marian Sayre, Board of Governors of the Federal Reserve System, November 1977. "Some Current Aspects of Agricultural Finance and Banking in the United States, by Emanuel Melichar, American Journal of Agricultural Economics, Vol. 59, No. 5, December 1977. "The Land Value and Credit Conditions," by Donald A. Langford, Agricultural Letter, Federal Reserve Bank of Chicago, (P.O. Box 834, Chicago, Illinois 60690), January 27, 1978. "Agricultural Credit Survey Results," Financial Letter, Federal Reserve Bank of Kansas City, (Kansas City, Missouri 64198), February 8, 1978. "Farm Credit Conditions in the Fifth District, 4th Quarter 1977," by Sada Clarke, Federal Reserve Bank of Richmond, (Richmond, Virginia 23213), February 9, 1978. "Survey of terms of Bank Lending—Loans to Farmers made during Nov. 7-12, 1977," Federal Reserve Statistical Release G.14, Table 4, Board of Governors of the Federal Reserve System, February 23, 1978.
