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AGRICULTURAL
FINANCE
DATABOOK ___
January 1980
Quarterly Series
E m anuel M elichar
M artha W aldheger
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 to the authors.
2
AGRICULTURAL FINANCE DATABOOK— QUARTERLY SERIES
JANUARY 1980
PAGE
SECTION
300
FEDERAL RESERVE DISTRICT CREDIT CONDITIONS SURVEYS
320
CHICAGO................................................................................................................................................3
330
MINNEAPOLIS....................................................................................................................................... 9
340
KANSAS C I T Y .....................................................................................................................................16
350
DALLAS................................................................................................................................................19
360
RICHMOND......................................................................................................
23
FIVE FEDERAL RESERVE BANKS CONOUCT QUARTERLY SURVEYS OF CREOIT
CONDITIONS AT COMMERCIAL BANKS THAT ARE INVOLVED IN FARM LENDING.
EACH
OF THE SURVEYS IS MADE AS OF THE FIRST OAY OF JANUARY, APRIL, JU LY , ANO
OCTOBER.
THESE DATES CORRESPOND TO LINES Ql THROUGH Q4, RESPECTIVELY, IN
THE TABLES.
ALTHOUGH THE FIVE SURVEYS DIFFER SOMEWHAT IN CONTENT, SERIES COVERING
SIMILAR SUBJECT MATTER ARE GROUPED INTO TABLES.
THE UNITS D I G I T OF THE TABLE
NUMBER INDICATES THE SUBJECT MATTER AREA, AS FOLLOWS: I I I NON-REAL-ESTATE
LENDING EXPERIENCE: (21 NON-REAL-ESTATE LENOING EXPECTATIONS: 13) MEASURES OF
LOAN A V AILA B ILITY; ( 4 ) INTEREST RATES; ( 5 ) REAL ESTATE VALUES, LENDING
EXPERIENCE, ANO LENDING EXPECTATIONS; ANO ( 6 ) FARMERS* EARNINGS AND SPENOING.
THE NATURE OF THE BANKS SURVEYED ANO THE SIZE OF THE SAMPLE ALSO OIFFER
AMONG D IS TR IC TS . THESE FACTORS AFFECT THE INTERPRETATION OF THE DATA FOR EACH
D ISTRICT AS WELL AS THE COMPARABILITY OF SIMILAR SERIES AMONG D IS T R IC T S .
BASIC INFORMATION OF THIS TYPE IS GIVEN ON THE TABLE-OF-CONTENTS PAGE FOR EACH
D IS T R IC T .
EACH OF THE FEDERAL RESERVE BANKS ISSUES A QUARTERLY REPORT ON ITS
SURVEY RESULTS, AVAILABLE FROM THE RESERVE BANK ON REQUEST.
THESE
PUBLICATIONS ARE LISTED ON THE TABLE-OF-CONTENTS PAGE FOR EACH D IS T R IC T .
FOR A BRIEF OISCUSSION OF THE USES ANO OF SOKE CONSIDERATIONS INVOLVED
IN INTERPRETING THESE SURVEY DATA, SEE THE SECTION "SURVEYS OF CREDIT
CONDITIONS" IN "OVERALL MEASURES OF FINANCIAL PERFORMANCE," AGRICULTURAL
FINANCE REVIEW. FEBRUARY 1977, PP. 8 8 -9 3 .
AGP ! CULTURAL FINANCE DAT ABOOK— w'JA&T { PLY SfS-IFS
320
JANJACV 1980
CHICAGO
321.1
FARM NON-REAL-ESTATE LENDING EXPERIENCE DURING THE PRECEDING
QUARTER............................................................................................................................................. 4
322.1
FARM NON -REAL-ESTATE LOAN VOLUME EXPECTED DURING THE CURRENT
QUARTER.............................................................................................................................................. 5
323.1
LOAN/DEPOSIT R AT IO S ................................................................................................................. 6
324.1
TYPICAL
325.1
TRENDS IN FARM REALESTATE VALUES
INTEREST RATES CHARGED
ON FARMLOANS....................................................... 7
ANDLOANVOLUME..............................................8
THE FEDERAL RESERVE BANK OF CHICAGO HAS CONDUCTED A QUARTERLY LAND
VALUE AND CREDIT CONDITIONS SURVEY FOR OVER 25 YEARS.
OVER TH IS TIME THE
SURVEY HAS UNDERGONE SEVERAL CHANGES, AND THUS HISTORICAL DATA FOR THE
CURRENT SERIES ARE AVAILABLE FOR VARYING LENGTHS OF T IM E .
BEFORE 1973, THE SURVEY COVEREO ONLY BANKS THAT WERE MEMBERS OF THE
FEDERAL RESERVE SYSTEM.
FROM 1969 TO 1972, FOR EXAMPLE, THE BANKS SURVEYED
WERE MEMBER BANKS AT WHICH FARM LOANS COMPRISED 10 PER CENT OR MORE OF TOTAL
LOANS AS OF 1968.
THAT SAMPLE NUMBERED ABOUT 550 BANKS, WHICH WAS ABOUT 60
PER CENT OF ALL MEMBER BANKS IN THE SEVENTH FEDERAL RESERVE D I S T R I C T .
IN JANUARY 1973, THE SURVEY WAS BROADENED TO COVER N0NMEM3ER BANKS AT
WHICH FARM LOANS COMPRISED 25 PER CENT OR MORE OF TOTAL LOANS AS OF JUNE 1972
(EXCEPT IN MICHIGAN, WHERE THE CRITERION WAS SET AT 10 PER C E N T ! .
A TOTAL
OF 976 NONMEMBER BANKS, REPRESENTING 28 PER CENT OF ALL NONMEMBER BANKS IN THE
D I S T R I C T , RESPONDED TO A REQJEST TO PAR TICIP AT E IN THE SURVEY.
AS OF 1973,
THEREFORE, THE TOTAL SURVEY SAMPLE {BOTH MEMBER AND NONMEMBER BANKS) ROSE TO
OVER 1,000 BANKS, OR ABOUT 90 PER CENT OF ALL BANKS IN THE D I S T R I C T .
A
TYPICAL RESPONSE RATE EACH QUARTER I S ABOUT 75 PER CENT.
SURVEY RESULTS ARE PRESENTED AND DISCUSSED
IN TIMELY ISSUES OF THE
AGO!CULTURAL L E T T E R . WHICH MAY BE OBTAINED FROM THE FEDERAL RESERVE BANK OF
CHICAGO, P .O . BOX 8 34 , CHICAGO, I L L I N O I S , 60 69 0.
3
4
LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE DI ST R 1 C T -- F E DE RAL RESERVE BANK OF CHICAGO
TABLE 3 21 .1
FARM NON-REAL--E S T AT E L ENDING EXPERI ENCE DURING THE PRE CEDING GJARTER, COMPARED WITH A YEAR EARLIER
p e r : ENTAGE OF BANKS REPORTING
DATE OF
SURVEY
1
|
|
1
1
DEMAND FOR LOANS
1
LOAN REPAYMENT RATE
1
1
1
1
1
1
1
1
1
1
1
1
LP*E R
SAME
8.
10.
13.
13.
68 .
70.
75.
79.
2*».
20.
11.
8.
27.
24 .
20 .
16.
65 .
6 8.
70.
74.
8.
6•
10.
10.
1
1
1
1
1
1
12.
6.
5.
5.
70.
72.
76.
18.
22.
20.
23.
42 .
47.
38 .
27.
1
1
1
1
22.
9.
7.
6.
57.
66 .
65 .
24.
34.
27.
30.
43.
45.
47.
41 .
4 1.
21.
14.
1
1
1
1
1
1
6.
8.
27.
26.
46.
49.
59.
59.
48.
43.
14.
13.
29 .
22.
14.
10.
43.
49.
51.
49.
28.
29 .
35.
4 1.
1
1
1
1
37.
4<».
30.
15.
46.
48.
60 .
64 .
17.
8.
10.
21.
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
49 .
51.
5 5.
50.
11.
11.
9.
13.
48.
48.
48 .
49.
41 .
4 1.
43.
38 .
1
1
1
»
21.
18.
14.
19.
59.
64 .
6 9.
69 .
21.
18.
16.
12.
3 4.
2 7.
26.
30 .
5 8.
67 .
72.
6 5.
12.
17.
25 .
37.
46.
50.
47.
49 .
42 .
33 .
2 8.
14.
1
1
1
1
28 .
30.
40.
52 .
6 2.
61.
55.
45.
10.
10.
9.
5.
33.
28.
3 4.
33.
57.
6 2.
57.
6 2.
31.
3 8.
41.
48.
51.
45.
45 .
40.
18.
17.
14.
12.
1
1
1
1
50.
4 6.
29 .
28 .
16.
11.
11.
13.
33 .
23 .
3 1.
34 .
51 .
67.
58.
54.
50.
60 .
50.
49.
3 8.
30.
39.
40 .
12.
11.
11.
11.
1
1
1
1
30.
29.
41.
45 .
43 .
12.
1
LOWER
SAME
1 9 7 0 -0 1 .
- 0 2 . ..|
-Q 3 ...I
16.
17.
10.
13.
4 7.
50.
4 5.
51.
197 1-0 1...1
-0 2 ...|
- 0 3 . ..|
19.
12.
8.
9.
1972—Q1 . . . 1
-0 2 ...|
-0 3 ...1
1 9 7 3 -0 1 ... 1
-0 2 ...1
-0 3 ...1
- 0 4 . ..|
|
1 97 4-0 1...1
-0 2 ...1
-0 3 ...|
- 0 4 . ..|
HIGHER
FUND a v a i l a b i l i t y
HIGHER
LOWER
SAME
35.
3 3.
45.
37.
33.
29.
25 .
13.
54.
58.
61 .
64.
13.
13.
14.
23 .
4 8.
42 .
40 .
48#
33.
46.
5 2.
44.
10.
8.
8.
7.
53.
45.
46.
54.
37.
4 7.
46.
39.
16.
10.
9.
9.
47.
44 .
4 8.
46 .
37.
46.
44.
*3 •
o.
5.
6.
4.
44.
41.
45.
45 .
50 .
54.
4 7.
50.
12.
10.
11.
14 .
4 5.
3 2.
34 .
36.
4 2.
58 .
5 5.
50.
5.
10.
15.
17.
53.
42.
47.
47.
21.
20.
14.
20.
33.
33.
31 .
33 .
4 6.
4 7.
56.
46 .
16•
11.
32.
45 .
1 9 7 5 -0 1 ...|
-0 2 ...|
-0 3 ...|
-0 4 ...|
■
1 97 6-0 1...1
-0 2 ...1
-0 3 ...1
-0 4 ...|
25.
19.
13.
14.
28.
2 9.
32 .
40.
4 7.
52.
55 .
46 .
15.
10.
8.
10.
36 .
39 .
37.
40 .
1 9 7 7-0 1...|
-0 2 ...1
-Q 3 ...I
-Q 4 .. . |
8.
6.
3.
4.
HIGHER
1
1
74.
76.
78.
81.
2 5.
2 3.
21 .
19.
0.
1.
1.
2.
63 .
79.
86 .
86.
17.
20 .
13.
12 .
1.
1.
2.
1.
87.
88.
91.
92.
13.
1 1.
8.
7.
22 .
30.
23.
28.
52 .
56.
6 5.
64.
2 6.
14.
12.
8.
1.
2.
3.
2.
93.
88 .
86.
84.
6.
10 .
11 .
14.
43.
41 .
13.
11 .
47.
4 7.
5 7.
58.
10.
12.
30 .
32.
4.
3.
1.
1.
82.
83.
76 .
67.
14.
14.
2 3.
33.
14 .
6.
11.
19.
4 5.
6.
56.
62 .
41.
51.
33 .
19.
1.
1.
0.
1.
6 9.
71.
78.
81.
30.
29.
2 2.
18.
i
i
i
i
20.
17 .
16 .
1 2.
57.
58.
67.
6 8.
23.
26 .
17.
20 .
1.
1.
1.
1.
83 .
61.
83.
85 .
16.
1 8.
17.
1 4.
10.
9.
6.
4.
i
i
i
i
i
1 0.
1 0.
4.
3.
56.
5 6.
51 .
4 1.
34 .
34.
4 5.
56.
1.
0.
0.
0.
83 .
83.
80 .
7 3.
16.
17.
19.
2 6.
42.
45.
61 .
61 .
9.
9.
10.
12.
i
i
i
i
i
5.
7.
9.
9.
40.
42.
5 7.
60.
56.
5 2.
3 4.
31.
0.
0.
0.
0.
77.
7 1.
76.
7 5.
23.
29.
24.
25.
26.
3 0.
22.
21.
56.
55.
65 .
69.
16.
15.
13.
10.
i
i
i
i
•
14.
1 1.
10.
10 .
56.
5 2.
63.
64.
30.
3 7.
27.
27.
1.
0.
0.
0 .
7 5.
69.
74 .
67.
24.
31.
26.
33.
33.
55.
12.
i
_L
10.
53 .
3 8.
0 .
6 7.
3 3.
7 4 .
5
h
.
i
1
i
1
1
1
1
1
1
1
JL_
1.
1.
1.
0.
15.
10.
7.
8.
1
1
i
1 9 7 9 -0 1 ...|
-0 2 ...1
-0 3 ...1
-0 4 ...|
■
1 98 0-0 1...1
1_
HIGHER
69.
7 3.
74.
72.
1
I
i
SAME
16.
17.
19.
20.
1
1
1978—Q 1 . . . I
-0 2 ...|
-0 3 ...1
-Q 4 ...I
R EQJ1RE0
COLLATERAL 1
LO mER
I
1
i
1
i
1 RENEWALS OR EXTENSIONS
|
1 LOWER SAME HIGHER
.
.1.
1
20.
62.
1 - 18 .
17.
65.
18.
1
71.
20.
1 0.
1
7
4
.
17.
9
.
1
1
34.
7.
59 .
1
7.
63.
30 .
1
26
.
7
.
67.
1
19.
9.
72 .
1
1
a n 0 V A L U E a n d CREDIT CONDITIONS SURVEY, SEVENTH fCCtRAL H SERVE DISTRICT — FEDERAL RESERVE BANK Of CHICAGO
1A B L E 32 2. I
'
FARM NON-REAL-ESTATE LOAN VOLUME EXPECTED DURING THE CURRENT QUARTER, COMPARED WITH VOLUME OF LOANS MADE A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
DATE OF
SURVEY
TOTAL
1
1.
1 LOWER SAME HIGHER
197C-Q2...I
-03...|
-Q4...|
8.
13.
10.
60.
59.
61.
32.
29.
29.
1971-01...|
-02...|
-Q3...I
-Q4...I
9.
6.
7.
7.
55.
52.
56.
52.
36.
42.
37.
41.
32.
22.
18.
13.
58.
65.
06.
48.
9.
13.
17.
39.
1972-01...|
-02...|
-03...1
-04...1
10.
6.
7.
10.
53.
48.
60.
50.
38.
46.
33.
40.
13.
16.
18.
19.
60.
59.
50.
43.
27.
24.
32.
38.
1973-01...I 12.
-02...|
8.
-03...| 1 0 .
-Q4...J 22.
j
1974— 01... 1 22.
-02...| 11.
-03.
16.
-04...| 28.
|
1975-01...| 23.
14.
-02 . ..|
-03...1
14.
-04...| 21.
|
1976-01...| 13.
-02...|
8.
-03...|
9.
-04...| 10.
i
1977-01...|
7.
4.
-02...|
- 0 3 . ..|
7.
-04...1
11.
j
1978-Q1•••| 10.
8.
-Q2...I
-03...1
10.
— Q4...| 11.
|
19.
1979-01...1
- 0 2 . ..| 10.
-Q3...I
16.
-04...| 22.
j
1930-01...1 26.
_1_
42.
31.
46.
35.
46.
61.
45.
42.
15.
23.
38.
28.
55.
43.
38.
40.
30.
34.
24.
32.
36.
30.
40.
36.
42.
59.
44.
36.
37.
53.
59.
67.
40.
35.
35.
26.
23.
12.
8.
7.
29.
30.
43.
43.
46.
55.
43.
35.
73.
58.
36.
28.
22.
33.
42.
42.
5.
9.
22.
30.
43.
39.
46.
42.
44.
53.
45.
48.
21.
27.
36.
41.
51.
52.
50.
45.
28.
21.
14.
14.
38.
56.
32. , 64.
36.
57.
31.
57.
22.
31.
25.
13.
54.
53.
54.
50.
24.
16.
20.
37.
39.
29.
45.
40.
51.
63.
45.
49.
14.
13.
18.
17.
55.
46.
50.
40.
30.
41.
31.
44.
39.
32.
39.
38.
42.
58.
45.
40.
26.
26.
31.
29.
40.
40.
48.
40.
34.
34.
21.
30.
33.
41.
35.
47.
18.
CROP s t 5rage
"d a i r y
FEEDER CATTLE
1
1
LOWER SAME HIGHER 1 LCwER SAME HIGHER
1
1
19.
56.
25. I 23.
69.
8.
**•
19.
58.
23.
1 *«»
**•
27.
51.
23.
1 ***
LOWER SAME HIGHER
FARM MACHINERY
OPERATING
LOWER SAME HIGHER
LOWER SAME HIGHER
• ••
15.
**•
**»
54.
***
***
31.
8.
10.
9.
49.
52.
57.
44.
38.
34.
30.
32.
29.
44.
45.
49.
25.
23.
22.
1
1
1
1
1
1
1
1
1
#**
***
»**
**»
***
»**
**•
***
• **
»**
14.
*•6
***
6.
57.
**•
**•
53.
29.
***
41.
6.
5.
9.
8.
47.
34.
48.
59.
46.
60.
44.
33.
34.
26.
20.
14.
49.
47.
57.
58.
17.
27.
23.
28.
13.
14.
***
**♦
76.
72.
***
***
10.
14.
***
*•*
13.
***
• **
12.
63.
»**
♦ **
60.
24.
***
**«
28.
10.
7.
10.
18.
48.
42.
55.
56.
42.
51.
35.
26.
11.
7.
10.
9.
54.
51.
60.
47.
35.
42.
30.
44.
1
1
1
1
I
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
I
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
i
i
_L_
14.
15.
24.
23.
73.
66.
60.
61.
13.
19.
16.
16.
18.
16.
12.
10.
61.
60.
50.
44.
21.
23.
38.
46.
11.
7.
9.
21.
36.
27.
39.
41.
52.
66.
52.
39.
8.
5.
9.
12.
39.
26.
39.
30.
53.
69.
53.
58.
22.
24.
27.
37.
60.
59.
62.
51.
17.
17.
11.
11.
20.
17.
16.
50.
57.
57.
43.
29.
26.
30.
41.
16.
7.
6.
12.
28 •
19.
28.
30.
56.
74.
66.
58.
15.
8.
22.
25.
28.
28.
37.
36.
56.
64.
42.
40.
44.
8.
11.
9.
9.
23.
23.
17.
14.
47.
53.
57.
53.
30.
24.
27.
32.
9.
33.
25.
27.
48.
56.
66.
64.
7.
18.
21.
18.
32.
42.
70.
78.
61.
40.
25.
28.
26.
15.
35.
36.
40.
40.
39.
36.
34.
45.
23.
22.
26.
23.
66.
65.
61.
65.
11.
13.
13.
11.
14.
17.
16 •
12.
53.
57.
55.
50.
33.
25.
29.
38.
9.
7.
7.
8.
36.
31.
38.
40.
55.
62.
56.
52.
12.
11.
12.
16.
43.
38.
45.
41.
45.
51.
43.
43.
20.
21.
17.
18.
67.
62.
71.
69.
13.
18.
12.
12.
11.
14.
12.
11.
50.
54.
44.
26.
38.
32.
44.
63.
4.
2.
4.
9.
31.
21.
29.
30.
65.
77.
66.
61.
16.
14.
30.
55.
41.
39.
39.
30.
43.
48#
30.
15.
16.
15.
15.
17.
73.
67.
73.
68.
11.
18.
12.
15.
16.
17.
13.
12.
45.
55.
57.
40.
39.
28.
29.
48.
8.
7.
9.
13.
31.
23.
38.
40.
61.
71.
53.
47.
45.
35.
26.
20.
37.
34.
44.
43.
18.
31.
30.
37.
21.
17.
18.
21.
68.
65.
70.
67.
12.
18.
12.
11.
20.
20.
25.
23.
55.
55.
57.
52.
25.
25.
18.
26.
10.
7.
8#
15.
35.
25.
36*
34.
54.
68 .
57.
50.
25.
17.
22.
28.
41.
35.
42.
37.
35.
48.
36.
35.
28.
64.
8.
23.
48.
29.
14.
26.
60.
41.
35.
23.
14.
_J_
4 .
6
HAND VALUE AND CREDIT CONDITIONS SURREY, SEVENTH FEDERAL RESERVE D1S TRICT— F EDERAL RESERVE BANK OF CHICAGO
TABLE 32 3.1
LOAN/OEPOSIT RATIOS
PERCENTAGE OF BANKS REPORTING
THAT LOAN/DEPOSIT RATIO IS —
AVERAGE
LOAN/DEPOSIT
SURVEY
|
RATIO
1 LGMER
HIGHER
THAN
DESIRABLE
1 (PER CENT) | THAN
1 DESIRED
1
_LLLS1££D_
1
1
1 97 0-0 1... |
49.
28.
55.
1
23 .
55.
-0 2 ...1
1
25.
47 .
28.
3 7.
56.
-Q 3 ...I
46.
1
17.
***
|
»* *
***
***
-0 4 ...|
1
1
***
***
*
**
1
»**
1 97 1-0 1...1
54.
1
44.
4 1.
- 0 2 . ..|
15.
55.
35.
-0 3 ...1
18.
1
47 .
38 .
17.
55.
i
45 .
I
54.
17.
36.
1 9 7 2 -0 1 ...|
I
46.
34.
14.
54.
-0 2 ...I
1
52.
19.
|
49 .
-0 3 ...1
55 .
32.
14.
31.
5 5.
1
55.
1
17.
54.
32.
197 3-0 1...1
1
51.
17.
54.
-0 2 ...1
32.
1
51.
34.
2C.
1
45.
-0 3 ...1
55.
37.
-0 4 ...|
56.
22.
1
4 1.
j
•
55.
20.
1
4 6.
32.
1974-01 . . . 1
54.
17.
- 0 2 . ..|
1
52.
31.
56.
1
36.
37.
27.
-Q 3 ...I
57 .
-Q 4 ...J
1
30.
38 .
32.
1
l1
36 .
1 9 7 3-0 1... 1
1
32 .
32 .
57 %
56 .
-0 2 ...|
37 .
1
35.
28.
-0 3 ...1
56.
39.
1
39.
22.
-0 4 ... |
57.
36.
22 .
1
4 2.
i1
I
1976-01 . . . |
57.
34.
23.
1
42 .
20.
-0 2 ...|
56.
1
44 .
36.
2 4.
-Q 3 ...I
5 7.
1
4 3.
33.
34.
- 0 4 . ..|
59.
1
41.
25.
•
i
1 9 7 7 -0 1 ...|
59.
35.
26.
i
39.
37.
59 .
28 .
-Q 2 ...I
1
35.
30.
38 .
-Q 3 ...I
61 .
1
32.
6 4.
i
2 2.
- 0 4 . ..|
32 .
4 6.
1
I
41.
1 9 7 8-0 1...1
62.
1
27 .
32.
44 .
64 .
1
23.
33.
-0 2 ...I
64.
46.
-Q 3 ...I
!
22.
33.
28.
52 .
-0 4 ...|
6 6.
1
19.
i
l1
1 97 9 -Q 1 •••|
33.
5 0.
65 .
1
17.
27 .
-0 2 ...J
67.
58.
1
15.
-0 3 ...1
67 .
1
14.
31.
55 .
-Q 4 ...J
68.
33.
52 .
1
15.
|
j
6 6.
I
16.
36.
48 .
1980—0 1 . . . 1
LAND VALUE AND C RE D IT C O N D I T IO N S SU RV EY. SEVENTH FEDERAL RESERVE D I S T R I C T - - F E D E R A L
T A B L E 324*1
T Y P I C A L I N T E R E S T RAT ES CHARGED ON FARM LOANS
I AVERAGE* PER C E N T !
DATE OF
SURVEY
|
|
1
1
1967-01.•*|
-02.*.|
-Q3...I
FEEDER CATTLE
LOANS
6.42
6.41
6.39
6.42
*****
*****
*****
*****
*****
*****
1966-01...I
6.52
6.67
6.85
6.86
*****
*****
*****
-Q3...I
*****
*****
*****
1969-01.*.|
-02...I
— 03.•• I
-Q4...1
6.85
7.04
7.19
7.47
*****
*****
*****
*****
*****
*****
*****
*****
1970-01..*|
-02...1
-03...1
-04.
1
197I-C1...#
-C2...I
-03...1
~Q4«••|
7.59
7.73
7.76
7.61
*****
*****
*****
*****
7.81
*****
8.00
*****
7.81
7.58
7.57
7.57
*****
*****
*****
*****
8.03
7.76
T.70
7.74
7.54
7.46
7.44
7.47
*****
*****
*****
*****
7.69
7.62
7.61
7.64
1.52
7.55
7.69
8.27
*****
*****
*****
*****
7.67
7.71
7.81
8.35
8.28
8.30
8.60
9.05
*****
*****
*****
*****
8.50
6.39
8.60
9.06
8.95
8.84
8.76
8.61
*****
*****
*****
8.90
9.04
8.94
8.89
8.96
8.80
8.74
8.79
8.76
6. 88
8.69
6.85
8.67
8.97
8.95
8.95
8.96
8.71
8.71
8.74
8.79
8.83
8.82
8.84
6.69
8.92
8.91
8.93
8.97
8.90
9.12
9.40
8.8 5
8.91
9.00
9.21
9.50
9.00
9.07
9.30
9.61
10.14
10.46
10.82
11.67
10. 2$
11.00
10.91
11.73
10.20
10.47
10.83
11.41
13.52
13.57
13.02
1972-01...|
-02...|
-03...|
-QA...I
j
1973-01...|
-Q2...I
-03...I
-Q4...I
1
1974-01...|
-02...|
-03...1
-04..«|
|
1975-01...|
-02...|
-03...1
-04...|
|
1976-01..•(
-02...|
-03...1
-04...|
1
1977-01...|
-02...I
-03...|
-04...|
|
1976-01...|
-02... 1
-03.
— 04...1
|
1979-01...I
-02. ..|
-Q3...I
—04...j
1
1960-01...|
__________ I__
OPERATING
LOANS
*****
*****
REAL ESTATE
LOANS
*****
RESERVE
BAN*
OF CH IC AG O
7
h
LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE fj 1ST I Cl — f E Dl RAL RESERVE BAN* GF CrtlCAGO
TABLE 325.1
TRENDS IN FARM REAL ESTATE VALUES AND LOAN VOLUME
MARKET VALUE OF GOOD FARMLAND
1
1.
| PERCENTAGE CHANGE I PERCENTAGE OF BANKS EX P EC T IN G
I
TP END D U RIN G THE CURRENT
1
FROM PR EVI O US —
|
OUARTER TO BE—
1.
YEAR
1 QUARTER
1
DOWN
STABLE
UP
l
1
1
*4 *
9.
1 9 5 8 -Q 2 ...I
0.
73.
18.
1
444
-0 3 ...1
-1 .
5.
73.
22.
1
444
34.
3.
63.
2.
1
DATE OF
SURVEY
PERCENTAGE OF BANKS E X P E C T IN G
FARM REAL E S T A T E LOAN VOLUME
DURING THE CURRENT QUARTER*
AS COMPARED W IT H VOLUME MADE
A YEAR E A R L I E R , T O BE —
___ LOWER
SAME
HIGHER____
4* 4
• 44
4*4
*4*
4*4
• 4*
* 44
444
* 44
1.
1.
2.
* 44
56.
56.
56.
444
43.
43.
42.
*44
*4*
4*4
*44
*44
4*4
*4*
4*4
*44
*4 4
4 44
4 44
*44
20.
34.
37.
38.
69.
60.
60.
57.
11.
6.
3.
5.
*44
4*4
4*4
*4*
4*4
4*4
4*4
444
*44
4 44
*4*
4 4*
1
1
42.
25.
15.
9.
55.
69.
75.
74.
4.
6.
10.
17.
*4*
4*4
*44
*44
444
*44
*4*
44*
*4*
*4*
*44
*44
444
4.
444
1.
1
1
1
1
*44
6.
*44
10.
*4*
75.
4*4
81.
* *4
19.
*44
10.
*44
*44
*44
4*4
*4*
4*4
*4*
*4*
* 4*
*4*
*4*
4 4*
1.
0.
2.
1.
444
1.
3.
3.
1
1
1
1
4.
5.
3.
5.
76.
71.
74.
59.
20.
24.
23.
36.
4*4
*44
*44
*44
***
*4*
44*
*44
*4*
*4*
*44
444
196 4 -Q 1 . . . |
-0 2 ...1
-0 3 ...|
-0 4 ...|
1.
1.
1.
2.
3.
4.
3.
4.
2.
1.
2.
1.
61.
58.
61.
54.
37.
41.
37.
45.
44 4
444
*44
444
*4*
4*4
*4*
4*4
444
*44
*44
*44
1 9 6 5 -Q i.|
-0 2 ...1
-0 3 ...|
- 0 4 . ..|
1.
2.
1.
2.
5.
6.
5.
7.
1
1
1
1
1
1
1
1
1
1
1.
1.
0.
1.
45.
39.
42.
24.
54.
60.
58.
75.
444
444
2.
444
4*4
*4*
73.
*4*
444
444
25.
4 44
1 9 6 6 -0 1 ...1
- 0 2 . ..|
-Q 3 ...I
-0 4 ...|
2.
4.
1.
3.
8.
10.
9.
9.
1
1
1
0.
0.
1.
1.
26.
17.
28.
34.
74.
83.
71.
65.
3.
*44
4*4
4.
67.
*44
444
64.
30.
44 4
44 4
33.
1 9 6 7 -Q 1 ...I
-Q 2 . . . 1
-Q 3 ...I
-0 4 ...|
2.
2.
1.
2.
8.
7.
5.
6.
1
1
1
1
1.
1.
1.
2.
42.
44.
51.
45.
57.
56.
48.
53.
*44
444
13.
*44
*4*
76.
72.
* 44
4 44
15.
15.
1 9 6 6 -0 1 ...|
-Q 2 ...I
-Q 3 ...I
-0 4 ...|
1
2.
2.
0.
1.
6.
6.
6.
3.
59.
56.
58.
59.
33.
36.
35.
28.
*44
444
27.
28.
*4*
4*4
63.
62.
444
*44
11.
10.
1 9 6 9 -0 1 ...|
-Q 2 ...I
-Q 3 ...I
-Q 4 ...I
2.
1.
2.
0.
5.
3.
4.
4.
8.
14.
12.
20.
68.
62.
66.
66.
24.
24.
22.
14.
12.
444
444
44.
81.
*44
444
50.
7.
*44
444
15.
1 9 7 0 -0 1 ... |
-Q 2 ...I
-0 3 ...1
-0 4 ...|
*
0.
1.
0.
0.
4.
1.
-1 .
0.
1
1
1
1
I
1
1
1
1
1
S
1
1
1
1
1
1
1
8.
8.
6.
.3 •
22.
21.
15.
17.
64.
68.
78.
72.
14.
11.
8.
11.
41.
444
35.
31.
52.
444
60.
59.
8.
44 4
5.
10.
1 9 7 1 -0 1 ...1
-0 2 ...|
-0 3 ...1
- 0 4 . . .|
1
1.
1.
2.
1.
1.
2.
3.
4.
14.
6.
1.
3.
75.
80.
83.
81.
11.
14.
16.
16.
28.
17.
13.
9.
63.
68 .
75.
76.
9.
15.
11.
15.
1 9 7 2 -0 1 ...1
-Q 2 ...I
0 3 ...1
-0 4 ...|
|
1.
1.
2.
3.
4.
4.
3.
6.
1
1
1
1
1
1
1
1
1
1
1
1
3.
1.
0.
1.
75.
65.
66.
47.
22.
34.
34.
52.
11.
8•
10.
8.
72.
70.
72.
67.
17.
23.
18.
2 5.
1 9 7 3 -0 1 ...|
0 2 ...|
-0 3 ...|
-Q 4 ...I
|
197 4—Q l . . . |
-0 2 ...1
-0 3 ...1
-0 4 ...|
2.
6.
4.
8.
7.
11.
13.
17.
1
1
1
1
1
1
1.
0.
1.
1.
52.
44.
43.
43.
47.
56.
56.
56.
6.
7.
12.
17.
70.
61.
63.
62.
22.
32.
2 5.
21.
5.
12.
3.
8.
24.
34.
29.
25.
2.
3.
8.
5.
52.
53.
67.
66.
46.
44.
25.
29.
17.
11.
26.
35.
64.
62.
61.
54.
19.
27.
13.
11.
1 9 7 5 -0 1 ...1
-0 2 ...1
-0 3 ...1
- 0 4 . ..|
1
3.
2.
4.
9.
23.
14.
15.
17.
1
1
1
1
1
1
1
1
1
1
1
1
9.
8.
6.
1.
77.
79.
81.
56.
14.
13.
13.
43.
34.
26.
23.
20.
56.
62.
68 .
68.
9.
12.
9.
12.
1 9 7 6 -0 1 ... 1
-0 2 ...1
-0 3 ...|
- 0 4 . ..|
j
7.
7.
6•
8.
22.
27.
30.
29.
1
1
1
1
3.
1.
1.
2.
68.
67.
58.
55.
29.
31.
41.
43.
15.
11.
17.
15.
73.
71.
65.
67.
13.
18.
18.
19.
1 97 7 -0 1 ... |
-0 2 ...1
-0 3 ...1
—0 4 . ..|
5.
8•
4.
-1 .
28.
30.
30.
18.
1
1
1
1
j
2.
1.
9.
34.
61.
51.
65.
56.
37.
48.
26.
10.
16.
12.
18.
36.
64.
65.
66.
56.
20.
23.
16.
8.
1 9 7 8 -0 1 ...|
-0 2 ...1
-0 3 ...1
-0 4 ...|
i
1 9 7 9 -0 1 ...|
-0 2 ...1
- 0 3 . ..|
-0 4 ...|
|
2.
4.
4.
4.
13.
7.
8.
15.
1
1
1
1
i
16.
6.
3.
3.
74.
71.
74.
69.
10.
23.
23.
28.
31.
25.
25.
29.
61.
63.
64.
62.
8.
13.
10.
9.
3.
3.
2.
3.
70.
62.
65.
56.
28.
35.
3 3.
35.
31.
29.
7.
10.
9.
41.
3 7.
58.
59.
62.
57.
2.
14.
1
1
1
1
1
1
1
- 1 ..
2.
6.
17.
16.
13.
1 7.
4.
70.
26.
*6.
51.
2.
1 9 5 9 -0 1 ...|
- 0 2 . ..|
-Q 3 ...I
-Q 4 ...I
1
1 96 0 -Q 1 . . . |
-0 2 ...1
-0 3 ...f
-0 4 * *•|
1.
0.
1.
*44
444
444
444
44 4
-3 .
0.
-1 .
-1 .
444
444
444
«44
1 9 6 1 -0 1 ...1
-0 2 ...|
- 0 3 . ..|
-0 4 ... |
-1 .
0.
2.
2.
-3 .
-3 .
-2 .
2.
1 9 6 2 -0 1 ...|
-0 2 ...|
-Q 3 ...I
-Q 4 ...I
*44
1.
44*
0.
1 9 6 3 -0 1 ... |
-0 2 ...|
-Q 3 ...I
-0 4 ...|
|
■
j
|
1980—0 1 . . . 1
________________ L
2.
3.
1
i
1
1
1
1
I
1
1
1
1
1
1
1
|
8.
6.
AGRICULTURAL FINANCE DATABOOK— QUARTERLY SEPIES
330
JANUARY
I9 60
M IN N E A P O L IS
3 31 .1
CURRENT FARM LE N D IN G E X P E R I E N C E ........................................................................................... 10
3 32.1
EX PE C TE D FARM LOAN DEMAND AND REPAYMENT C O N D I T I O N S ........................................ 11
333 .1
AVERAGE L 0 A N / D E P 0 S 1 T R A T I O AND OTHER C O N D I T I O N S T H A T R E F L E C T
C R E O I T A V A I L A B I L I T Y ............................................................................................................................12
3 34.1
I N T E R E S T R A T E S ON FARM LOA NS....................................................................................................13
3 35 .1
FARM REAL E S T A T E L E N D IN G E X P E R I E N C E .................................................................................14
336 .1
FARMERS*
EARN INGS ANO S PE N D IN G .............................................................................................. 15
THE F EDE RA L RESERV E BANK OF MIN NE AP OL IS I N I T I A T E D A QUARTERLY
A G R IC U L T U R A L C R E D I T C O N D I T I O N S SURVEY I N 1 9 6 4 .
THE SURVEY PANEL AND
Q U E S T I O N N A I R E HAVE REMA1NE0 LARGELY COMPARABLE OVER T I M E .
THUS AMONG THE
RESERVE BANK SURVEYS* T H I S SURVEY PROVID ES E X C E P T IO N A L L Y LONG AND BROAD
COVERAGE OF A G R IC U L TU R A L C R E O I T C O N D I T I O N S . AND IS E S P E C I A L L Y VA LUA BLE I N
T H A T TH E S E R I E S SPAN SEVERAL MONETARY AND FARM INCOME C Y C L E S .
TH E SURVEY PANEL I S CHOSEN FROM AMONG BANKERS ENGAGED IN FARM L E N D IN G
TO PROV ID E A GE OGRAPHICAL AND B A N K- S1 2 E CROSS S E C T I O N OF THE BANKS I N THE
N I N T H FED ERA L RESERVE D I S T R I C T .
TH E CORE OF TH E PANEL C O N S I S T S OF MEMBERS
OF THE UPPER M10WEST A G R IC U L TU R A L C R E D I T COU NCIL * AN O R G A N IZ A T I O N OF
A G R IC U L TU R A L R E P R E S E N T A T I V E S AND LE N D IN G O F F I C E R S OF N I N T H D I S T R I C T BANKS.
TH E I N I T I A L SURVEY I N 1 96 4 COVERED 75 BANKER S.
OVER T IM E * THE PANEL WAS
ENLARGEOS
AS OF 1973* I T COVERED 175 BA NKS .
TH E RESPONSE RA TE HAS
T Y P I C A L L Y BEEN 90 PER C E N T OR B E T T E R .
SURVEY R E S U L T S ARE PRESE NTE D AND D IS C US S ED I N A QUARTERLY RE P OR T ,
A G R IC U L TU R A L C R E D I T C O N D I T I O N S SURVEY. WHICH MAY BE O B T A IN E D FROM THE
RESEARCH DEPARTMENT* FEDERAL RESERVE BANK OF M IN NE APO LI S* MI N NE AP OL IS *
MIN NESOTA* 5 5 4 8 0 .
9
10
SURVEY OF CURRENT AGRICULTURAL CREDIT CONDI!IONS* NINT H FEDERAL RESERVE D I S T R I C T — fEDERAL RESERVE LANK Of MINNEAPOLIS
TABLE 331.1
CURRENT FARM LENDINu EXPERIENCE
PERCENTAGE OF BANNS REPORTING
CURRENT
1
1
|
|
1
1
DATE OF
SURVEY
EX PER IE NCE
COMPARED W IT H USUA l C O N D I T IO N S
_____________
DEMAND FOR DEBT
LOANS
E X T EN SI ON OR
I N T E R M E D I A T E - TERM
R E F IN A N C IN G
DEMAND FOR NON-- R E A L - E S T A T E
S HO RT -TE RM
_LJ2h££___ SAME— H I G H E R
D EB T
REPAYMENT
1
1
J ___ LCfeLE___SAME___ ill &Jd£B__ ___ LCMLR__ .SAM£__J U S t i f E ___ ___ SLUM- ___ LLSUAL
1
1
1
1
1
_ l_
R A P ID . _ 1 _
|
***
***
***
**•
• «*
***
**♦
**•
***
***
***
***
***
***
5.
9.
***
***
52.
53.
**•
***
43.
36.
28.
23.
34.
27.
62.
76.
66.
71.
10.
1.
0.
2.
***
***
**♦
***
**♦
***
***
***
»**
***
***
*♦*
2.
2.
1W
21.
38.
*3.
62.
63.
60.
55.
27.
16.
53.
46.
26.
11 .
46.
52.
70.
75.
1.
2.
4.
14.
***
***
***
***
»**
**»
*♦»
»**
***
***
***
***
20.
15.
***
22.
50.
65.
*»*
68.
30.
20.
**•
1 0.
23.
10.
*♦*
6.
67.
84.
***
80.
10.
6.
»*♦
14.
**♦
*♦*
**•
7.
**»
***
»**
87.
***
*»*
***
o.
16.
6.
1 1.
16.
70.
79.
81 .
71.
1 2.
15.
8.
13.
11 .
16.
10.
6.
74.
83.
89.
87.
15.
1.
1.
7.
22.
21.
26.
9.
1
1
1
1
i
1
1
1
1
6.
8.
5.
7.
80.
76.
84.
85.
14.
16.
11 .
8•
8.
2.
6.
17.
65.
65.
70.
79.
27.
33.
24.
4.
26.
26.
0.
6.
73.
74.
83.
80.
1.
0.
17.
14.
82.
72.
81.
76.
10.
18.
14.
14.
1
1
1
1
7.
11.
8.
10.
82.
76.
79.
80.
12.
13.
13.
1 0.
13.
9.
11.
14.
72.
71.
76.
78.
15.
20.
13.
8.
12.
19.
11.
6•
84.
79.
87.
89.
4.
2.
2.
5.
6.
2.
3.
7.
76.
78.
66.
81.
18.
20.
31.
12.
7.
12.
14.
12.
65.
76.
69.
83.
9.
11.
17.
5.
14.
10.
10.
6•
67.
73.
77.
82.
19.
17.
13.
12.
ii.
14.
16.
16.
82.
85.
82.
82.
7.
2.
1.
2.
8.
4.
4.
6.
74.
62.
74.
84.
18.
33.
22.
11.
15.
12.
5.
9.
79.
75.
87.
79.
6.
1 3.
8.
12.
6.
4.
3.
9.
58.
71.
85.
83.
36.
25.
12.
8.
38.
25.
19.
9.
59.
75.
81.
87.
4.
0.
1.
3.
1 9 7 2 -Q 1 ...I
-0 2 ...1
-0 3 ...|
- 0 4 . ..|
j
6.
2.
2.
11.
79.
85.
84.
81.
15.
1 3.
13.
7.
5.
2.
5.
5.
85.
85.
85.
85.
10 .
13.
10.
10.
10.
4.
5.
16.
74.
81.
87.
79.
15.
15.
8.
5.
18.
12.
7.
2.
77.
86.
92.
86.
6.
2.
1.
12.
1 9 7 3 -0 1 ...|
-Q 2 ...I
-0 3 ...1
-0 4 ...!
17.
13.
8.
20.
72.
64.
72.
67.
12.
23.
20.
13.
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
8
1
1
1
1
1
I
I
7.
5.
5.
11.
85.
77.
81.
71.
9.
18.
14.
17.
30.
24.
19.
44.
66.
69.
77.
54.
4.
6.
5.
2.
0.
2.
1.
3.
74.
76.
80.
56.
26.
23.
18.
40.
1 9 7 4 -0 1 ...|
-0 2 ...|
-0 3 ...1
-0 4 ...!
1
19.
25.
6.
12.
62.
54.
66.
65.
19.
21.
28.
24.
1
1
1
1
a
1
14.
1 4.
11.
16.
77.
74.
77.
72.
9.
1 2.
12.
12.
42.
40.
20.
17.
53.
50.
64.
59.
5.
10.
16.
24.
4.
6.
23.
35.
61.
66.
71.
57.
36.
28.
6.
8.
1 9 7 5 -0 1 .. . |
-Q 2 ...I
-0 3 ...|
-Q 4 ...I
15.
11.
9.
12.
55.
59.
56.
79.
30.
30.
35.
10.
i
i
i
i
23.
13.
17.
15.
67.
71.
68.
74.
10.
16.
15.
12.
7.
8.
7.
13.
49.
47.
52.
63.
45.
45.
41.
24.
52.
50.
34.
21.
40.
45.
65.
74.
8•
5.
1.
4.
1 9 7 6 -0 1 ...|
-0 2 ...|
-0 3 ...I
-0 4 ...|
I
7.
4.
8*
13.
64.
75.
61.
57.
30.
20.
31.
30.
i
i
i
i
12.
9.
20.
23.
73.
78.
70.
63.
15.
13.
9.
14.
4.
4.
5.
1.
58.
54.
61.
51.
38.
42.
34.
47.
31.
42.
35.
60.
68.
58.
63.
38.
1.
0.
2.
2.
1977— Q 1 . . . I
-0 2 ...1
-0 3 ...1
-0 4 ...|
■
1 9 7 8 -0 1 ...|
- 0 2 . . *|
-0 3 ...1
-0 4 ...|
|
1979—Q l . . . |
-Q 2 ...I
-0 3 ...1
—0 4 . . . |
9.
8.
3.
8.
55.
53.
60.
60.
37.
39.
37.
31.
i
25.
25.
20.
22.
50.
58.
66.
56.
25.
17.
14.
21.
1.
1.
2.
1.
30.
34.
43.
38.
69.
64.
55.
61.
75.
75.
62.
74.
25.
25.
38.
26.
6.
5.
1.
6.
69.
66.
72.
63.
26.
29.
28.
31.
22.
13.
6.
7.
67.
73.
75.
72.
11.
14.
19.
22.
1.
2.
4.
10.
36.
50.
76.
73.
63.
48.
20.
17.
61.
55.
28.
28.
39.
45.
67.
67.
1.
0.
5.
4.
i
i
i
i
i
a
3.
70.
69.
54.
43.
28.
30.
42.
51.
9.
15.
21.
27.
26.
13.
10.
11.
5.
71.
76.
69.
58.
16.
14.
19.
37.
21.
18.
20.
46.
71.
72.
77.
52.
8«
10.
9.
76.
71.
67.
65.
I
1.
4.
i
i
i
i
1
9
i
i
i
i
a
1
15.
55.
31.
i
29.
60.
12.
7.
51.
41.
46.
50.
4.
1 9 6 4 -0 1 ...1
-Q 2 ...I
- 0 3 . ..|
-Q 4 ...I
9.
7.
15.
16.
66.
76.
68.
71.
25.
17.
17.
13.
1 9 6 5 -0 1 .. . |
- 0 2 . ..|
-0 3 ...1
-Q 4 ...I
1
1 9 6 6 -0 1 ...1
-0 2 ...1
-0 3 ...|
8.
7.
3.
17.
57.
60.
69.
78.
35.
33.
28.
5.
9.
6.
*♦*
10.
70.
78.
***
77.
21.
16.
*#*
13.
8.
3.
3.
14.
77.
60.
65.
77.
15.
17.
32.
9.
2.
3.
2.
4.
76.
76.
72.
87.
1 969-Q 1. . . |
- 0 2 . ..|
-Q 3 ...I
- 0 4 . ..|
8.
10.
5.
10.
1 9 7 0 -0 1 ...|
-0 2 ...1
-Q 3 ...I
-Q 4 ...I
1 9 7 1 -Q 1 ...|
-C 2 ...I
-0 3 ...1
-Q 4 ...I
1
1967— Q i . . • |
-Q 2 ...I
-0 3 ...1
—0 4 . . . |
196 8 — Q l . . . |
-0 2 ...1
-0 3 ...1
-Q 4 ...I
•
j
6•
|
I 9 6 0 —Q l . ••|
____________ - L _
1
1
1
1
1
1
1
1
1
1
1
1
1
1
a
1
a
1
I
l
i
a
1
_l
8.
8»
PROPORTION OF FARM
CUSTOMERS LOANEO UP
TO THE ]IR PR A C T IC A L
DEBT L I M I T , CGMPAREO
WITH A YEAR E A R L IE R
LOMER... - S A U L .
HI GH ER
12*.
15.
15.
6.
58.
45.
43.
54.
29.
40.
42.
40.
4.
7.
8.
25.
53.
53.
60.
63.
43.
40.
32.
12.
20.
16.
***
16.
64.
70.
***
74.
16.
14.
***
10.
18.
9.
6.
10.
76.
83.
81.
80.
6.
8.
13.
10.
1
1
1
1
■
1
1
1
1
1
1
1
7.
10.
2.
14.
68 .
61.
66.
72.
25.
29.
32.
1 A.
15.
6.
2.
7.
73.
75.
82.
82.
12.
19.
16.
11.
i
1
1
1
1
1
1
1
1
1
1
1
10.
6.
3.
5.
75.
75.
71.
75.
16*
18.
26.
20.
3.
3.
3.
6.
69.
69.
75.
81.
29.
2 8.
22.
13.
1
1
1
1
1
1
1
1
1
1
1
1
1
1
a
1
12.
9.
9.
17.
76.
79.
83.
79.
12.
12.
7.
4.
30.
36.
28.
43.
68.
61.
71.
56.
1.
3.
2.
1.
44.
41.
19.
16.
55.
56.
57.
57.
1.
3.
23.
27.
i
i
i
i
10.
10.
6«
12.
51.
45.
56.
63.
38.
45.
37.
25.
i
i
i
i
9.
6.
3.
2.
61.
62.
61.
56.
31.
32.
36.
42.
0.
i
0.
0.
I
I
l
2.
1.
1.
2.
44.
49.
45.
47.
55.
51.
55.
52.
6.
7.
16.
23.
45.
61.
62.
62.
22.
IS .
30.
28.
18.
8.
61.
60.
56.
63.
8*
13.
26.
28.
6.
62.
32.
1.
3.
2.
1
1
1
1
■
1
1
1
1
1
1
1
1
1
1
J1
1
1
1
1
1
1
a
1
a
1
1
i
i
i
i
i
-J -
50.
31.
SURVEY OF CURRENT AGRICULTURAL CREDIT CON DITIONS, NINTH FEDERAL RESERVE D I S T R I C T - - F E D E R A L RESERVE BANK OF MINNEAPOLIS
TABLE 33 2.1
EXPECTED FARM LOAN DEMAND AND REPAYMENT CONDITIONS
PERCENTAGE OF BANKS REPORTING
EXPE CT ED DEMAND FOR FARM LOANS IN CURRENT
1
QUA RTE R, COMPAREO W IT H USUAL C O N D I T I O N S
1
|.
| NO N-REAL - E S T A T E LOANS 1
DEBT E X T E N S I O N
OR R E F IN A N C IN G
»
1
|
1.
HIGH ER
LOWER _SAME
HIGHER
1 _L OWER
I
SAMF
1
1
•**
•**
1 9 6 6 -Q 1 ...I
6*
73.
21.
1
***
***
72.
23.
-0 2 ...1
5.
1
-0 3 ...1
6.
66.
5.
73.
30.
22.
1
-O V ...J
6.
66.
59.
60.
32.
1.
1
I
1
DA TE OF
SURVEY
2.
3.
9.
20.
69.
67.
76.
68 .
69.
50.
17.
12.
1 9 6 6 -0 1 ...|
- 02. . .r
-0 3 ...1
-0 6 ...|
5.
6.
***
16.
72.
78.
72.
23.
18.
•**
16.
1967— C l . . . |
6«
3.
6.
13.
87.
76.
82.
73.
7.
21.
16.
16.
1 9 6 8 -0 1 .. . |
-0 2 ...1
-0 3 ...1
—Q6 . . . |
1
6.
6.
6.
81.
76.
79.
80.
13.
20.
17.
13.
1969— Q i . . . |
-Q 2 ...I
-Q 3 ...I
-0 6 ...|
6«
8.
10.
82.
75.
75.
79.
12.
21.
17.
11.
197 0—Q 1 . . . 1
-0 2 ...|
-0 3 ...1
—0 6 . . . |
2.
5.
7.
8#
81.
73.
80.
79.
17.
23.
16.
13.
1 9 7 1 -0 1 ...|
-0 2 ... I
-0 3 ...1
-0 6 ...|
1
5.
3.
2.
9.
76.
69.
19.
28.
11.
16.
1 9 7 2 -0 1 ...|
- 0 3 . A. 1
-0 3 .«»|
-06...|
3.
2.
6.
85.
83.
88.
16.
7.
16.
69.
15.
1973— Ql...t
22.
5.
5.
33.
70.
76.
81.
51.
19.
16.
15.
36.
16.
59.
6*
11.
62.
63.
53.
35.
1 9 7 5 -0 1 ...1
-0 2 ... I
-0 3 ...1
—0 6 . . . |
20.
10.
51.
69.
12.
72.
1 9 7 6 -0 1 ...I
6.
70.
78.
65.
1 96 5 -0 1 ... |
-0 3 ...|
-Q 6 ...|
-0 2 ...»
-0 3 ...|
-0 6 ...»
*
—02...I
-0 3 ...1
-0 6 ...1
1
1 9 7 6 -0 1 ...1
-0 2 ...|
-0 3 ...I
—0 6 . . . |
I
|
-02...1
-0 3 ...1
-0 6 ...|
1
1 97 7 -0 1 . . . I
-0 2 ...1
-0 3 ...f
-0 6 ...f
|
1 9 7 8 -0 1 ...1
—O t . . . 1
-0 3 ...1
-0 6 ...|
1
1 97 9 -0 1.
-0 2 ...1
-03... »
- 0 6 . . .|
«
1980-0 1...1
1
7.
6. •
9.
7.
3.
9.
7.
10.
88.
76.
70.
51.
66.
66.
7.
8*
3.
61.
7.
3.
6.
59.
58.
69.
66.
12.
3.
56.
77.
3.
3.
66.
9.
63.
68.
17.
56.
12.
8•
26.
28.
29.
61.
23.
16.
27.
19.
26.
62.
66.
66.
31.
61.
36.
39.
27.
1
1
1
1
1
1
1
1
1
1
a
1
i
l
i
l
I
l
I
i
I
1
I
I
i
I
I
i
l
i
l
a
1
I
l
i
i
1
1
I
i
I
i
I
i
I
i
i
i
I
i
i
i
1
1
i
I
i
i
f
i
l
i
i
i
i
i
i
i
i
i
i
i
26.
t
2 0.
30.
i
i
i
i
36.
63.
i
i
30.
t
j ___
1.
1.
16.
28.
66.
51.
69.
53.
56.
68.
17.
19.
16.
11.
**»
26.
66.
76.
•••
66.
20.
13.
*•»
10.
13.
3.
6.
13.
79.
81.
87.
76.
8.
16.
9.
13.
6.
0.
6.
12.
66.
70.
79.
71.
30.
30.
17.
17.
11.
5.
7.
11.
75.
75.
62.
79.
16.
20.
11.
10.
7.
6.
7.
8.
76«
78.
78.
71.
17.
15.
15.
20.
3.
3.
3.
71.
75.
22.
86.
26.
13.
75.
10.
13.
7.
77.
16.
<6.
.7.
25.
8?.
65.
27.
16.
15.
69.
77.
80.
48 •
66.
66.
50.
63.
27.
13V
4.'
10.
6.
8.
5.
8.
6.
6.
66.
11.
67.
10.
28.
62.
17.
38.
65.
8.
6.
66.
48#
10.
71.
65.
25.
25.
1.
3.
62.
75.
5.
1.
55.
29.
36.
22.
60.
71.
1.
1.
5.
21.
39.
61.
0.
36.
79.
60.
56.
66.
2.
67.
66.
76.
62.
51.
35.
16.
19.
8.
10.
76.
76.
73.
63.
16.
17.
19.
67.
6.
56.
38.
2.
10.
20.
10.
8.
1
1 ADVERSE CHANGE
I
EX PE C TE D I N
1 1FARMERS9 A B I L I T Y
TO
REPAY DEBTS
1
I I I M THE NEAR FUTURE
I
1
35.
1
52.
1
68.
1
67.
1
f
1
6S.
32.
23.
22.
1
1
1
1
I
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
fl
1
1
1
1
1
1
1
1
1
1
a
1
l
I
I
10.
7.
5.
9.
21.
15.
30.
30.
35.
27.
28.
16.
20.
21.
15.
17.
15.
17.
19.
26.
21.
17.
19.
i
a
1
16.
I
1
a.
•1
174
I
I
I
A
5.
3.
9.
*
l
I
I
I
l
I
6#
9.
26.
59.
56.
I1
1
i
i
i
62.
63.
31.
20.
I
I
I
29.
36.
58.
70.
i
i
i
I
i
i
i
73.
66.
60.
58.
I
i
i
68.
33.
I
i
i
i
i
i
i
i
I
i
__ i__
'
12.
20.
9.
15.
26.
36.
66.
t
12
SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS* NINTH FEDERAL RESERVE DISTRICT— FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 333.1
AVERAGE L O A N / D E P O S IT R A T I O ,
L O A N / D E P O S IT
AVERAGE
LO A N /D E P O S IT
R ATIO
IP ER C E N T !
DA TE OF
SURVEY
AND PERCENTAGE OF
RATIO
BANKS RE PO RTI NG OTHER C O N D I T I O N S T H A T
IS—
LOWER
HIGHER
THAN
D E S IR A B L E
THAN
D E S IR E O
DE S IR ED
..■■flf. EUMQS
1 9 6 4 -Q 1 ...I
-Q 2 ...I
-Q 3 ...I
-Q 4 ...I
19 6 5 - Q l . . . 1
-Q 2 ...I
-Q 3 ...I
1 9 6 6 -Q 1 ...I
-0 2 . ..|
-Q 3 ...I
***
***
**6
*6*
*66
*66
*6*
*66
*66
***
***
***
1 9 6 7 -Q I. . . |
-Q 2 ...I
- 0 3 . ..|
-Q 4 ...I
*6*
***
***
***
196 8 - Q 1 . . . |
-Q 2 ...I
-Q 3 ...I
-Q 4 ...I
*6*
*6*
***
1 9 6 9 -0 1 .. . |
-0 2 ...4
-0 3 ...J
-Q 4 ...1
52.
56.
58.
59.
1970—Q 1 . . . 1
-0 2 ...1
-0 3 ...|
-0 4 ...I
I
56.
58.
61.
59.
1 9 7 1 -0 1 ... |
-Q 2 ...I
-0 3 ...|
-0 4 ...I
I
58.
59.
61.
60.
1 9 7 2 -Q 1 ...1
-0 2 ...|
—0 3 ...1
-Q 4 ...I
■
58.
58.
60.
59.
1 9 7 3 -0 1 ...|
-0 2 ...|
-0 3 ...|
-Q 4 ...I
i
58.
58.
61.
61.
1 974 —Q 1 . . . |
-Q 2 ...I
-Q 3 ...I
-0 4 ...|
61.
63.
63.
65.
1 9 7 5 -0 1 ...J
-0 2 ...1
-0 3 ...|
- 0 4 . . .|
j
64.
63.
63.
63.
1 9 7 6 -0 1 ...|
-Q 2 ...I
-Q 3 ...I
-0 4 ...|
i
1 9 7 7 -0 1 ...|
-0 2 , ..|
-Q 3 .--1
-0 4 ...(
|
63.
63.
65.
.
*66
1
1
1
66
64.
63.
66.
68.
1 9 7 8 -0 1 ...|
-Q 2 ...I
-0 3 ...1
-0 4 ...|
t
67.
67.
70.
71.
1 9 7 9 -Q 1 ...4
-Q 2 ...I
-0 3 . ..|
-0 4 ...(
70.
71.
73.
79.
198 0 — Q 1 . . . 1
72.
1
1
1
(
1
1
1
(
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
4
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
I
1
1
1
1
1
I
1
1
1
1
1
1
1
1
1
1
I
1
1
1
1
1
I
1
1
1
1
1
1
1
____ L
***
666
56.
*6*
*6*
.
j
j
|
1
***
***
***
23.
*66
666
18.
.
1 8.
16.
59.
65.
60.
62.
17.
***
14.
70.
61.
*6*
69.
*66
17.
|
|
|
»
16.
.
17.
1 9.
67.
60.
63.
63.
17.
.
.
18.
20
20
|
|
|
(
23.
65.
58.
62.
64.
13.
.
27.
13.
33.
26.
16.
1 3.
60.
59.
64.
64.
7.
15.
.
23.
18.
15.
5.
.
8
62.
53.
48.
61.
13.
16.
.
17.
11
20
21
22.
15.
22.
22.
13 .
1 9.
1
1
1
1
5.
.
.
4.
81.
76.
.
70.
6
8
68
6.
4.
7.
3.
3.
*
72.
67.
71.
76.
72.
73.
5.
*
•
3.
6
8
5.
4.
3.
3.
6.
6*6
56.
13.
14.
26.
5.
61.
64.
.
73.
6.
8.
7.
1.
|
|
|
(
5.
5.
17.
.
6
95.
65.
55.
.
66
4.
4.
.
.
|
1
|
1
4.
.
18.
15.
77.
70.
52.
45.
33.
47.
31.
1
I
(
1
18.
23.
32.
.
22
47.
38.
32.
35.
.
18.
19.
7.
62.
60.
65.
67.
24.
24.
23.
16.
|
|
1
|
14.
9.
9.
.
6
48.
56.
57.
63.
.
5.
5.
4.
28.
28.
17.
23.
60.
60.
71.
71.
13.
.
13.
.'
1
|
1
|
4.
5.
.
.
67.
69.
.
72.
32.
36.
26.
29.
62.
58.
58.
56.
7.
15.
15.
|
|
|
|
5.
5.
9.
75.
78.
71.
62.
65.
59.
60.
54.
15.
.
27.
39.
|
1
|
|
.
4.
1 8.
35.
69.
76.
46.
27.
20.
21
18.
56.
70.
74.
64.
34.
19.
.
18.
(
|
|
1
27.
13.
.
.
11
8
30.
43.
51.
61.
17.
17.
.
19.
67.
67.
62.
55.
16.
16.
26.
26.
(
|
|
|
5.
7.
9.
.
62.
63.
54.
55.
20.
16.
12.
17.
64.
61.
55.
53.
18.
|
|
(
(
I
15.
.
.
.
12
8
6
51.
58.
54.
48.
34.
31.
38.
46.
|
|
|
(
3.
3.
.
.
2
1
50.
51.
40.
40.
47.
46.
58.
58.
|
(
|
1
i
4.
44.
52.
1
_L
20
22.
22.
11.
20.
29.
13.
7.
10.
11.
6.
12
20
20
20.
12
6
6.
11
20.
29.
35.
C R E D IT
A V AILA B ILITY
1
1
1
1
10.
666
13.
11.
8
2
2
2.
■LQMEfi-SAflE-illGftift. ---------LLQ.HER SAME HIGHER
I_________ I---- Q£ FUNDS--------
6*6
20.
R EF IEC T RELATIVE
NUMBER OF FARM LCAN REQUESTS REFERRED T O —
REFUSED OR I
( E X P E C T PROBLEMS
REDUCED A | A C T J V E L Y |
I N ME E TI N G
CORRESPONDENT BANKS
FARM LOAN |S E E K IN G |
NORMAL FARM
NONBANK AGEN CIES
REQUE ST IN I
NEW
I LOAN REQUESTS
PR EVI OU S
I
FARM
|
IN CURRENT
I COMPARED WITH
I COMPARED WITH
NONE |
USUAL NUMBER
QUARTER OUEI
LOAN
(Q UA RTE R DUE TO
NONE|
USUAL NUMBER
TO SHORTAGE 1AC CO UNT SI A V A I L A B I L I T Y
I
I ______________________
62
68
10
2
1.
7.
11.
9.
10
6
1 *** 6*6
1 **• 1 4 .
1 *** 2 3 .
20.
1
1
1 *** 1 6 .
j 666
10.
1 *** 7 .
15.
1
***
I
| *6*
10.
1 *** 5 .
1 *** *6*
1 *** 11.
j *6*
6.
1 ♦** 9 .
S3.
63.
85.
80.
1.
7.
8.
• 82.
7.
3.
.
.
.
8
11
6
1
(
1
|
5.
7.
7.
.
1
|
|
|
5.
6*6
6
11.
6*
87.
9.
3.
5.
.
86.
86.
92.
88.
3.
4.
9.
63.
.
89.
.
10
j
1
1
1
66*
43.
32.
37.
16.
4.
4.
•
6
79.
47.
61.
53.
3.
4.
|
|
|
| 28.
4.
5.
.
3.
55.
50.
47.
46.
3.
7.
«
*
8
8
1 23.
| 24.
|
.
| 30.
.
3.
.
.
52.
45.
52.
45.
5.
.
4.
3.
|
.
.
|
| 28.
| 30.
4.
42.
42.
43.
41.
6*
5.
6.
2.
|
|
|
1
29.
30.
34.
37.
44.
44.
49.
45.
7.
7.
7.
.
6
|
|
|
|
35.
36.
34.
37.
2.
43.
46.
48.
47.
5.
4.
9.
7.
1
|
(
|
45.
39.
28.
32.
|
|
|
|
24.
31.
32.
35.
|
|
|
I
28.
26.
30.
27.
1 37.
1 38.
1 43.
I 43.
■
.
.
4.
.
1
1
1
1
47.
47.
42.
45.
5.
4.
30.
1
1
I
1
5 1.
44.
38.
41.
14.
14.
4.
4.
1
1
1
1
4.
3.
2
2
1
6
2.
3.
1.
2.
3.
2.
5.
42.
38.
42.
38.
4.
3.
.
4.
1
49.
54.
46.
49.
7.
7.
.
8
1
1
1
1
40.
45.
37.
37.
3.
.
.
.
2
1
0
50.
44.
49.
54.
19.
61.
.
54.
49.
7.
9.
17.
19.
1
1
1
1
38.
43.
39.
37.
4.
.
.
.
51.
49.
52.
50.
19.
27.
32.
40.
45.
42.
34.
27.
13.
23.
26.
34.
1 37.
28.
1 34.
1 34.
j
32.
27.
26.
1 3 0.
_1_
1
1
1
1
2
2
2
0.
2.
0.
1.
2.
55.
59.
49.
46.
54.
6
6.
8
8.
6.
6.
2.
6.
5.
10.
8.
6.
20
22
20
10
6.
11.
4.
2.
3.
2.
1.
1.
3.
2.
1.
1.
2.
1.
1.
1.
61.
.
62.
65.
16.
16.
9.
3.
66
66
66
3.
5.
3.
4.
3.
.
49.
56.
64.
48.
19.
51.
40.
54.
54.
24.
27.
.
9.
53.
60.
58.
57.
16.
13.
.
14.
S O.
44.
48.
52.
27.
33.
28.
25.
50.
48.
58.
63.
31.
26.
16.
15.
62.
.
60.
54.
13.
14.
17.
19.
58.
21.
1
1.
2.
2.
2.
3.
7.
7.
7.
.
| 19.
1 23.
.
(
|
.
17.
19.
1 23.
.
1
| 23.
| 25.
14.
| 18.
3.
20
64.
65.
.
58.
11.
10.
11.
11.
12.
10.
4.
5.
5.
8
10
8.
12.
9.
7.
3.
58.
58.
61.
54.
4.
|
.
1 23.
1 23.
|
.
26
21
83.
61.
71.
59.
5.
11.
3.
2.
11.
5.
*
3.
.
9.
13.
.
22
88
88
4.
.
61. .
62.
58.
1.
0.
2.
1.
0.
0.
1.
0.
2.
0.
2.
2.
2.
1.
1.
22
5.
20.
66 2 8 .
12.
8.
79.
10.
10.
84.
6*6 666
9.
1
1
1
1
1
66
72.
.
61.
65.
66*
***
***
46.
40.
44.
49.
54.
56.
58.
58.
81.
7.
.
7.
7.
J
i
88
666 666
13.
75.
82.
10.
14.
82.
76.
.
84.
40.
47.
47.
43.
10
10.
7.
12.
11.
10.
12.
1* .
*66
666
12.
8.
13.
17.
5.
.
1
1 ***
49.
51.
50.
52.
10.
12.
6.
7.
5.
(
|
(
(
(
1
|
|
83.
90.
2.
6.
5.
6.
6•
6.
3.
6•
6
5.
666
*66
*66
6*6
6*6
6*6
666
6*6
*66
*6*
66*
666
*6*
6*6
666
666
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666
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24.
21.
|
(
I *6*
|
5.
3.
I
1
1
1
i
2
2
8
15.
9.
7.
66*
*♦*
j
(
42.
44.
43.
47.
3.
666
91.
83.
84 .
91.
1
I
1
1
l
2.
5.
2.
666
68
71.
.
73.
66
8
2
2.
2.
3.
2.
6.
11
12
SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS. NINTH FEOERAL RESERVE DISTRICT— FEDERAL RESERVE BANK OF MINNEAPOLIS
!*
T A BL E 3 3 4 . 1
I N T E R E S T R A T ES ON FARM LOANS
TREND I N I N T E R E S T RA TE S (P ER C EN T AG E OF BANKS R EP O R T IN G )
IM OS T COMMON IN T E R E S T R A TE S CHARGED ON FARM LOAfi IS|
1
(AVERAGE* PER C E N T I
|
S rt UR T- TER N
INTERM EDIATE-TERM
REAL E S T A T E
1
LO N G- TE RM
| N O N - R E A L - E S T A T E LOANS
LOANS
LOANS
|
N O N - R E A L - E S T A T E LOANS
REAL E S T A T E
UP
UP
DOWN
DOWN
UP
| DOWNLITTLE
LITTLE
LITTLE
LOANS
I
SHORTIN TERM ED IA TEWARD
WARD
CHANGE
CHANGE
WARD
1 WARD
CHANGE _ WARD
WARD
1
TERM
TERM______
1
DAT E OF
SURVEY
1
1
1
1 9 6 4 -0 1 ...|
-Q 2 ...I
-0 3 ...1
-0 4 .
* ** * *
*****
** * * *
*****
* ** **
*****
1 9 6 5 -0 1 ... |
-Q 2 ...I
-0 3 ...|
-0 4 ...i
*****
** * * *
** * * *
*****
*** **
*** **
*** **
* ** * *
1 9 6 6 -0 1 ...1
-0 2 ...1
-0 3 ...|
—0 4 . . . |
*****
1
* ** * *
** * * *
*****
*****
* *** *
** * * *
1
1
1
1
1
•
1
1
1
1
1
I
1
1
1
1
1
1
1
1
1
1
1
I
1
1
1
1
1
1
1
1
1
1
1
1
1
1
I
* ** **
*****
** * * *
*****
* ** **
*** **
* *** *
*** **
*** **
*** **
1 9 6 7 -0 1 ... |
-0 2 ...1
-Q 3 ...I
** * * *
* ** * *
** * * *
*****
** * * *
* ** **
*****
* *** *
1 9 6 8 -0 1 ...1
-0 2 ...|
-Q 3 ...I
—Q 4 « ••|
* ** * *
* ** * *
*****
** * * *
*** * *
*** **
*** * *
* *** *
1 9 6 9 -0 1 ...1
-Q 2 ...I
-0 3 ...1
-0 4 ...|
7 .3 6
7 .6 2
7 .9 0
7 .4 0
7 .6 6
8.00
8 .0 7
8.00
1 9 7 0 -0 1 ...|
- 0 2 . ..|
-0 3 ...|
-Q 4 ...I
8 .0 9
8 .3 8
8 .3 8
8 .4 2
8 .1 9
8 .5 0
8 .4 9
8 .5 6
8 .1 5
8 .4 2
8 .4 6
8 .4 5
1 9 7 1 -0 1 ...|
-0 2 ...|
-0 3 ...1
-0 4 ...|
8 .3 7
8 .1 9
8 .1 6
8 .1 6
8 .4 5
8 .2 8
8 .2 7
8 .2 3
8 .3 5
6 .0 6
8 .0 6
1
1 9 7 2 -0 1 ... |
-Q 2 ...I
-0 3 ...1
-0 4 ...|
i
8.02
8 .0 3
8.02
8 .0 9
8 .2 3
8 .1 3
8 .1 3
8 .1 5
7 .9 6
7 .8 7
7 .9 0
7 .9 1
1
1 9 7 3 -0 1 ... |
-Q 2 ...I
-0 3 ...1
-0 4 ... |
8 .0 6
8 .0 8
8 .1 8
8 .5 5
8 .26
8 .6 7.
7 .9 2
7 .9 5
8 .0 5
8.43
1 9 7 4 -0 1 . . . |
-0 2 ...I
-0 3 ... |
—0 4 . . . |
|
8 .5 6
8 .5 3
8 .8 2
9 .0 4
8 .7 4
8 .6 5
9 .0 5
9 .3 3
6 .4 5
8 .4 3
8 .7 0
8.9 1
197 5 —Q l
-Q 2
-0 3
-Q 4
9 .1 1
9 .0 3
9 .0 (T
8 .9 9
9 .3 5
9 .2 5
9 .2 3
9*27
8.86
8.88
8 .9 6
1976— Q l
-Q 2 ...I
-0 3 ...r
-0 4 ...|
|
9 .0 5
9 .0 9
9 .1 5
9 .1 8
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1 9 7 7 -0 1 ...
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9 .1 5
9.21
9 .1 7
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1 37 9 -0 1 . . . |
-0 2 ..
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«|
.1
|
10.24
10.39
10.78
1 1.80
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10.24
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198 0 — Q l « . f
.
_____________ L_
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8.20
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11.21
*** **
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1
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14
SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS.
TACLE 3 35 .1
NINTH FEDEf-AL RESERVE DI S TR IC T — F EDE RA L RESERVE BANK OF MINNEAPOLIS
FARM REAL E S T A T E LE N D IN G EX PER IE NCE
PERCENTAGE OF BANKS REP ORTING
DEMAND FOR FARM REAL E S T A T E L OA NS.
AS COMPARED W IT H USUAL C O N D I T IO N S
CURRENT
1
( D A T E OF SURVEY!
1
|_
LOWER
SAME
HIGHER
1
1
***
***
***
1 9 6 4 -Q 1 ...I
- 0 2 . ..|
12.
50.
38.
-0 3 ...|
15.
55.
30.
-0 4 ...|
27.
47.
26.
SURVEY
1 9 6 5 -0 1 ...|
-0 2 ...|
-Q 3 ...I
-Q 4 ...I
8.
5.
9.
11.
54.
50.
70.
65.
38.
45.
21.
24.
1 9 6 6 -0 1 ...|
-0 2 ...|
-0 3 ...|
8.
5.
***
17.
66.
64.
***
62.
26.
31.
***
21.
1 9 6 7 -0 1 ...|
-0 2 ...1
-0 3 ...I
38.
24.
23.
24.
53.
62.
69.
64.
9.
14.
8.
12.
1 9 6 8 - 0 1 . . .|
-0 2 ...|
-Q 3 ...I
-0 4 ...|
18.
10.
23.
27.
68.
65.
65.
63.
14.
25.
12.
10.
1 9 6 9 -0 1 .. . |
-0 2 ...|
-Q 3 ...I
-0 4 ...|
24.
32.
38.
1 0.
71.
58.
56.
80.
5.
10.
6.
10.
1 9 7 0 -Q 1 .|
- 0 2 . ..|
- Q 3 . •« |
-Q 4 ...I
1
47.
49.
40.
46.
47.
39.
49.
48.
6.
12.
11.
6•
1 9 7 1 -0 1 .. . f
-Q 2 ...I
-0 3 ...|
-0 4 ...I
|
35.
30.
14.
18.
59.
60.
77.
73.
6.
9.
10.
8•
1 9 7 2 -Q 1 ...I
-0 2 ...|
-0 3 ...1
-Q 4 ...I
1
12.
8*
12.
10.
81.
78.
76.
80.
6.
14.
12.
10.
1 9 7 3 -Q i. . . 1
-0 2 ...|
- 0 3 ...|
-0 4 ...|
10.
4.
7.
13.
80.
77.
80.
74.
10.
19.
14.
13.
20.
13.
24.
25.
74.
69.
66.
65.
7.
18.
10.
10.
1 9 7 5 -0 1 ... |
-0 2 .;.i
-Q 3 ;..|
-Q 4 .;.|
26.
27.
23.
17.
58.
55.
64.
73.
16.
18.
14.
10.
1 9 7 6 -0 1 ...|
-Q 2 ;..i
-03*4.1
-0 4 ...|
22.
10.
18.
15.
67.
71.
66*
70.
11.
19.
15.
15.
1977—0 1 . . . 1
-0 2 ...1
-0 3 ...|
- 0 4 . . .|
|
16.
14.
19.
15.
65.
55.
56.
62.
19.
31.
25.
23.
1 97 8 -0 1 . . . |
-Q 2 ...I
-0 3 . ..|
-0 4 ...|
20.
19.
10.
13.
56.
63.
71.
73.
24.
18.
19.
14.
1 9 7 9 -0 1 ... |
-0 2 ...1
-0 3 ...|
-Q 4 ...I
•
19.
15.
15.
20.
69.
82.
76.
72.
12.
3.
9.
7.
1 9 8 0 -0 1 ...|
41.
55.
3.
i
1974— Q l . ••|
-Q 2 ...I
- 0 3 . ..|
j
_________ L_
1
1
1
I
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
I
1
1
1
1
1
I
1
1
1
1
1
1
1
1
1
1
■
1
1
1
1
1
a
1
i
i
i
i
t
•
i
i
i
i
a
1
i
i
i
a
1
i
i
i
a
1
i
i
i
i
i
1
i
i
i
i
a
1
i
i
i
i
a
1
i
_ j_
EX PECTEO DUR ING THE
CURRENT QUARTER
LOWER
SAME
1 1.
7.
7.
12.
68.
74.
69.
64.
21.
1 9.
24.
24.
6.
3.
9.
6.
65.
60.
77.
77.
29.
37.
14.
17.
5.
3.
**•
12.
71.
81.
***
73.
24.
16.
***
15.
27.
15.
1 6.
15.
68.
77.
79.
82.
5.
8.
5.
3.
17.
10.
23.
21.
71.
75.
72.
71.
12.
15.
5.
8.
22.
28.
38.
41.
74.
67.
58.
53.
4.
5.
4.
6.
38.
41.
35.
33.
56.
53.
61.
63.
7.
5.
4.
4.
25.
17.
13.
15.
69.
75.
80.
77.
6.
8.
7.
8.
11.
4.
9.
10.
85.
88.
86.
84.
4.
8.
5.
6.
8.
6.
7.
15.
86.
83.
87.
74.
6.
11.
7.
11.
21.
1 4.
18.
24.
76.
76.
77.
67.
3.
10.
5.
10.
25.
20.
17.
15.
59.
63.
74.
74.
16.
18.
9.
11.
13.
7.
14.
14.
75.
814
72.
68.
12.
12.
14.
18.
13.
14.
17.
13.
60.
56.
60.
66.
26.
30.
23.
21.
16.
17.
11.
10.
58.
72.
77.
78.
26.
12.
12.
12.
1 8.
13.
11.
19.
74.
78.
83.
72.
8.
8.
6.
9.
32.
58.
10.
HIGHER
15
SURVEY OF CURRENT AGRICULTURAL CREDIT CON DI TIO NS, N I M H FEDERAL RESERVE D I S T R I C T — FEDERAL RESERVE BANK OF MINNEAPOLIS
TABLE 336.1
FARMERS*
1
1
|
|
I
1
196 h -Q1...|
-02...|
-L3...I
“ w4• * • |
DATE OF
SURVEY
EARNINGS AND S P E N D IN G , COMPARED W ITH PR E VI O U S YEAR
PERCENTAGE OF BANKS REP ORT ING
SPENDING BY FARMERS FOR ALL ITEMS
EARNINGS OF BANKS* FARM CUSTOMERS
CURRENT IDATE OF SURVEY1
LOWER
SAME
HIGHFR
EXPECTED
1 HWFfi
N CURRENT QUARTER
SAME
CURRENT IDATE OF SURVEY)
HIGHFR
LOWER
SAME
EXPECTEO IN CURRENT QUARTER
HIGHER
LOWER
**•
32.
44.
50.
**•
56.
43.
. 37.
**•
12.
13.
13.
SAME _ _HIGHER
54.
66 .
76.
66.
16.
16.
23.
21.
30.
18.
1.
13.
45.
58.
63.
65.
42.
38.
33.
25.
13.
4.
4.
10.
***
27.
42.
37.
59.
49.
50.
**•
14.
8.
13.
196:-01... |
-02...|
-03...|
74.
59.
18.
15.
21.
29.
27.
14.
5.
12.
55.
71.
52.
35.
7.
13.
40.
48.
33.
16.
8.
17.
60.
71.
44.
50.
24.
11.
46.
40.
52.
50.
10.
10.
24.
3*.
47.
44.
13.
13.
43.
46.
56.
40.
10.
10.
31.
47.
1966-01...J
-02...I
-03...|
17.
7.
***
7.
16.
16.
***
18.
67.
77.
**♦
75.
10.
2.
***
1.
26.
26.
***
23.
64.
72.
•**
76.
13.
7.
40.
34.
• **
. 37.
13.
2.
♦**
10.
48.
57.
39.
41*
3.
47.
59.
**•
60.
42.
48.
1S6"-Q1...1
-02...1
-03...|
-C4...I
14.
41.
32.
29.
17.
36.
53.
34.
69.
23.
14.
37.
12.
39.
16*
43.
51.
49.
54.
43.
37.
12.
30.
14.
8«
22.
14.
17.
56.
56.
62.
59.
36.
22.
24.
24.
8*
19.
12.
15.
64.
58.
61«
65.
28.
23.
27.
20.
1968-Q1...|
-02...1
-03...|
-04...|
55.
46.
28.
29.
29.
41.
53.
39.
16.
13.
19.
32.
41.
26.
26.
26.
54.
64.
55.
46.
5.
10.
19.
28.
22.
30.
12.
16.
59.
55.
68.
65.
19.
15.
20.
19.
26.
27.
13.
18.
63.
56.
71.
62.
11.
17.
16*
20.
1969-Ql.«.|
-02...1
-03...|
-Q4...I
16.
17.
?2.
13.
45.
44.
30.
34.
39.
39.
58.
53.
12.
11.
14.
11.
69.
60.
39.
45.
19.
29.
47.
44.
12.
16.
14.
18.
67.
63.
66.
64.
21.
21.
20.
18.
6.
11.
18.
17.
76.
65.
58.
62.
18.
24.
24.
21.
1970—Q1...I
-Q2...I
-03...|
-04...|
•
1971-Q1...I
-02...1
-Q3...I
-04...|
|
1972-Q1...I
-02...1
-03...1
-04...|
8.
5.
15.
35.
32.
34.
64.
48«
60.
60.
21.
18.
7.
9.
15.
27.
59.
56.
60.
56.
35.
35.
25.
16.
13.
23.
19.
27.
67.
63.
58.
6^8
20.
15.
23.
9.
16.
18.
17.
28.
64.
66.
66.
61.
19.
15.
18.
11.
52.
33.
15.
13.
33.
55.
70.
50.
15.
13.
15.
38.
51.
24.
4.
16.
42.
66 .
62.
45.
8.
10.
33.
39.
3to.
28.
11.
10.
54.
58.
65.
70.
10.
14.
24.
19.
42.
23.
7.
9.
51.
58.
70.
67.
8.
19.
23.
23.
17.
9.
4.
1.
39.
42.
41.
21.
45.
50.
54.
79.
9.
5.
4.
1.
61.
63.
49.
24.
30.
32.
47.
75.
10.
6«
8.
4.
69.
75.
74.
69.
22.
19.
18.
27.
12.
8*
6.
1.
72.
74.
75.
60.
16.
18.
19.
38.
2.
1.
1.
0.
12.
6.
20.
3.
86.
94.
79.
97.
0.
1.
2.
2.
21.
16.
26 .
5.
79.
83.
72.
93.
1.
0.
1.
0.
52.
39.
46.
31.
47.
61.
53.
69.
2.
0.
1.
1.
53.
43.
48.
23.
45.
58.
51.
76.
1.
11.
59.
62.
7.
19.
21.
20.
93.
70.
20.
17.
3.
25.
66.
68 .
18.
36.
24.
19.
78.
39.
10.
13.
2.
2.
11.
27.
24.
31.
38.
42.
74.
66.
51.
31.
3.
4.
19.
38.
33.
26.
36.
31.
64.
69.
45.
31.
1975-QI...I
-02...1
-03...|
—Q4...|
1
1976—Q l ...|
-02...I
-03... |
-04...|
67.
81.
56.
19.
24.
16.
34.
52.
9.
3.
10.
29.
70.
78.
52.
20.
21.
19.
33.
50.
10.
3.
15.
30.
42.
55.
31.
20.
35.
28.
37.
57.
23.
17.
31.
23.
50.
52.
29.
18.
28.
26.
40.
56.
22*
22.
31.
26.
47.
41.
51.
80.
34.
48.
37.
13.
19.
11.
12.
7.
43.
31.
55.
79.
38.
60.
31.
15.
19.
10.
14.
7.
25.
25.
41.
51.
60.
59.
43.
37.
15.
16.
15.
12.
29.
24.
48.
63.
58.
59.
39.
29.
13.
17.
12.
8.
1977-01...1
H)2. . . 1
-03...1
- 0 4 . ..|
86.
78.
67.
56.
11.
20.
27.
26.
3.
1.
5.
18.
78.
61.
54.
48.
17.
35.
24.
28.
6«
4.
22.
24.
73.
68.
45.
46.
20.
27.
41.
40.
7.
5.
14.
15.
75.
63.
44.
50.
16*
31.
44.
35.
13.
15.
19Tfr-Ql...|
-02...1
-03...|
-04. . . 1
46.
36.
5.
6.
28.
26.
25.
26.
26.
36.
70.
68.
41.
21.
4.
36.
38.
22.
25.
23.
40.
75.
67.
51.
36.
2.
10.
16.
42.
38.
55.
31.
2.
7.
39.
48.
56.
55.
7.
32.
48.
53.
50.
13.
21.
45.
42.
1979-01...1
-02...1
-03...I
3.
83.
78.
69.
43.
1.
6.
19.
29.
31.
34.
40.
71.
66.
4*
17.
14.
19.
26.
40.
42.
6«
9.
5.
12.
50.
46.
43.
47.
45.
45.
52.
41.
5.
5.
5.
15.
52.
47.
41.
40.
43.
48.
54.
45.
31.
36«
33.
31.
42.
27.
26.
45.
29.
30.
40.
31.
1973— 01...1
-02...1
-03...|
-Q4...I
I
1974—Q l ...|
-Q2...I
-03...1
-Q4.i.|
|
j
i
0 4 ...|
i
1980-01...1
___________ 1__
3.
8.
3.
60.
10.
7.
16
A G R IC U L TU R A L F IN A N C E
340
DATABOOK-QUARTERLY
S E R IE S
JANJARY 1980
KANSAS C I T Y
3 41 .1
CURRENT
FARM N O N - R E A L - E S T A T E
L E N D IN G
E X P E R I E N C E .............................................. 17
343.1
AVERAGE LO A N /D E P O S IT R A T I O AND OTHER C O N D I T IO N S TH A T R E F L E C T
R E L A T I V E C R E D I T A V A I L A B I L I T Y ................................................................................................. 17
344 .1
MOST COMMON I N T E R E S T RA TE S CHARGED ON FARM LO ANS............................................18
3 45 .1
FARM PEAL E S T A T E
V A L U E S ............................................................................................................... 18
THE FEDERAL RESERVE BANK OF KANSAS C I T Y IMPLEMENTED A QUARTERLY
A G R IC U L TU R A L C R E D I T C O N D I T I O N S SURVEY ON JANUARY 1 , 1 9 7 6 .
AN I N I T I A L
SAMPLE OF 196 BANKS WAS S E L E C T E D P R IM A R IL Y FROM AMONG THE 902 BANKS IN THE
TE N T H FEDERAL RESERVE D I S T R I C T AT WHICH FARM LOANS COMPRISED 50 PER CENT OR
MORE OF TO TA L LO A NS .
THE SAMPLING PROCEDURE RE S UL TE D IN REPRESENT AT ION OF
ALL GEOGRAPHIC REG IONS AND FARMING AREAS IN THE D I S T R I C T .
AS OF A P R IL 1 9 7 7 , THE SAMPLE C O N S IS T E D OF 188 BANKS .
V I R T U A L L Y ALL
SURVEYED BANKS RESPOND EACH Q U A R TE R .
F OL LO W -UP C A LL S TO RESPONDENTS ARE
MADE TO HELP ASSURE A HIGH RESPONSE R A T E .
AN E X T E N S I V E D IS C U S S IO N OF SURVEY R ES U L T S IS PU B LIS HE D QUARTERLY
THE F I N A N C I A L L E T T E R . WHICH MAY BE O B T A IN E D FROM THE RESEARCH D I V I S I O N ,
FEDERAL RESERVE BANK OF KANSAS C I T Y , KANSAS C I T Y , M I S S O U R I , 6 4 1 9 8 .
IN
QUARTERLY SURVEY OF AGRICULTURAL CREDIT CON DITION S,
TABLE 3 4 1 .1
CURRENT
1
|
|
1
1
1976— Q l • . . 1
-Q 2 ...I
-Q 3 ...I
-Q 4 ...I
1
DAT E OF
SURVEY
DEMAND FOR LOANS
LOWER
SAME
HIGHER
13.
4.
6.
6•
34.
40.
35.
21.
53.
55.
60.
72.
1 97 7 —Q l . . . |
-Q 2 ...I
-Q 3 ...I
-0 4 ...|
|
5.
3.
6.
5.
26.
29.
28.
33.
70.
67.
66.
62.
1 9 7 8 —Q 1 . |
-Q 2 ...I
—Q3* • . |
-0 4 ...|
i
13.
11.
13.
10.
44.
46.
46.
38.
44.
43.
41.
52.
1 9 7 9 -0 1 ...|
-0 2 ...|
-0 3 ...|
-0 4 ...|
•
17.
13.
11.
10.
41.
39.
34.
45.
41.
48.
56.
45.
198 0— 0 1 . . . |
1
16.
41.
43.
1
FUND
1
|
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
9
I
LOWER
SAME
1 4.
19.
17.
39.
49.
51.
50.
44.
35.
38.
41.
37.
l
I
l
l
l
17
TENTH FEDERAL RESERVE O I S T R I C T — FEDERAL RESERVE BANK OF KANSAS C I T Y
FARM N O N - R E A L - E S T A T E L E N D IN G E X P E R IE N C E , COMPARED W IT H A YEAR EA R L IE R
PERCENTAGE OF BANKS RE P OR TIN G
a v aila
BJL1TY
HIGH ER
LOAN REPAYMENT RATE
HI GH ER
RENEWALS OR E X T E N S I O N S
LOWER
SAME
C O L L AT E R AL RE QU IR E D
LOWER
HIGHER
SAME
HI GH ER
LOWER
SAME
37.
30.
33.
17.
34.
31.
26.
56.
51.
60.
67.
43.
15.
9.
7.
1.
12.
8.
4.
5.
57.
54.
64.
42.
31.
38.
31.
54.
2.
1.
2.
0.
68.
74.
71.
64.
30.
25.
27.
36.
43.
49.
45.
49.
22.
13.
14.
15.
68.
64.
67.
63.
30.
30.
29.
32.
2.
5.
4.
5.
1.
3.
2.
3.
33.
32.
28.
32.
66.
66.
69.
65.
1.
1.
1.
0.
59.
57.
58.
59.
40.
43.
41.
41.
19.
17.
20.
26.
54.
54.
46.
46.
27.
29.
34.
26.
5
V
27.
16.
35.
49.
52.
59.
13.
18.
21.
24.
10.
8.
15.
18.
38.
54.
57.
65.
52.
37.
28.
18.
1.
0.
2.
1.
64.
68.
68.
68.
34.
32.
30.
31.
21.
22.
27.
32.
49.
49.
40.
45.
30.
28.
33.
23.
12.
1 0.
6.
16.
53.
63.
70.
68.
34.
27.
22.
16.
27.
21.
17.
14.
58.
64.
71.
66.
15.
IS .
12.
18.
1.
1.
1.
1.
74.
66.
70.
62.
25.
33.
29.
37.
29.
48.
23.
23.
62.
15.
15.
55.
30.
1.
61.
38.
___ I__
QUA RTERLY SURVEY OF A GR IC UL TUR AL C R E D I T C O N D I T I O N S , T E N T H FE DERAL RESERVE D I S T R I C T — FE D ER A L RESERVE BANK OF KANSAS C I T Y
TABLE 343 .1
AVERAGE L OA N/ D EP OS 1T R A T I O , AND PERCENTAGE OF BANKS R EP OR T IN G OTHER C O N D I T I O N S T H A T R E F L E C T R E L A T I V E C R E D I T A V A I L A B I L I T Y
D A TE OF
SURVEY
NUMBER OF FARM LOAN REQUE STS REFERRED T O —
IR EF U S ED OR I
LO A N /D E P O S IT R A T I O I S —
I REDUCED A | A C T I V E L Y
.1 FARM LOAN | S E E K IN G
AVERAGE
NONBANK A GE N CI ES
CORRESPONDENT BANKS
L O A N / D E P O S IT
LOWER
HIGH ER IR EQ UE ST I N I
NEW
| COMPAREO WIT H
I COMPARED W IT H
FARM
R ATIO
THAN
AT
THAN
I PR E VI O U S
|
NONE|
US UAL NUMB ER
LOAN
NONE|
USUAL NUMBER
(P ER C E N T )
D E S IR E D
D E S IR E D
OES 1 RE D IQ U A RT ER DUE I
LEV EL
LEVEL
L E V E L |TO SHORTAGE! ACCOUNTS
I _____________ :___________
I.
.lLQriER SAME HIGHER
!...QE„£liMDS__l
I
1 9 7 6 -0 1 . . . |
-Q 2 ...I
-0 3 ...|
-0 4 ...1
1
56.
57.
59.
62.
I
!
1
I
1
51.
54.
49.
40.
12.
12.
12.
10.
37.
34.
39.
51.
1 9 7 7 -0 1 ...1
-0 2 ...1
-Q 3 ...I
-0 4 ...|
■
1 9 7 8 -0 1 * ..1
-0 2 ...|
-0 3 ...|
-0 4 ...!
1
61.
62.
65.
65.
1
!
1
t
1
31.
36.
28.
31.
21.
12.
12.
17.
52.
59.
52.
62.
62.
63.
64.
!
1
1
t
40.
39.
43.
42.
16.
15.
14.
15.
44.
46.
43.
43.
1 9 7 9 -0 1 ...»
-Q 2 ...I
-0 3 ...1
- 0 4 . . .|
|
62*
63.
64.
64.
!
1
1
1
1
38.
42.
42.
35.
18.
11.
14.
9.
43.
47.
44.
56.
1 98 0 -0 1.• • !
63.
I
38.
11.
51.
|
|
»
|
1
|
I
|
I
|
|
I
|
I
1
|
|
|
1
t
!
13.
14.
11.
20.
58.
51.
51.
35.
23.
22.
26.
26.
37.
30.
31.
26.
21.
15.
13.
18.
31.
39.
35.
34.
14.
16.
18.
21.
37.
35.
37.
34.
22.
32.
!
1
l
!
|
1
!
!
1
1
1
1
1
!
1
ft
1
1
I
1
1
ft
51.
46.
47.
52.
19.
13.
19.
9.
62.
69.
65.
69.
19.
18.
16.
21.
39.
40.
37.
41.
7.
10.
8•
10.
64.
63.
64.
58.
29.
27.
28.
32.
43.
36.
39.
40.
12.
10.
20.
19.
65.
73.
66.
66.
23.
17.
15.
16.
40.
40.
40.
44.
18.
16.
14.
13.
68.
62.
65.
61.
14.
22.
21.
26.
43.
17.
59.
25.
ft
41.
45.
44.
46.
12.
10.
13.
9.
63.
70.
69.
66.
26.
20.
19.
25.
39.
37.
36.
32.
5.
6.
5.
5.
61.
57.
58.
50.
34.
37.
37.
45.
36.
34.
37.
36.
7.
13.
14.
13.
44.
49.
58.
57.
49.
38.
29.
29.
33.
31.
31.
35.
13.
13.
13.
12.
53.
56.
54.
34.
37.
31.
34.
35.
13.
57.
30.
9
9
i
ALQMER. SANE HI GH ER
1
1
1
1
1
1
1
1
1
»
i
i
i
1
1
i
!
1
1
1
1
ft
SO .
18
QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS,
TABLE 3 4 4 .1
TENTH FEDERAL RESERVE D I S T R I C T -- F E D E R A L RESERVE BANK OF KANSAS C I T Y
MOST COMMON I N T E R E S T RAT ES CHARGED ON FARM LOANS
(A V E R A G E , PER C E N T )
FEEDER C A T T L E
LOANS
OTHER
OPER ATI NG
LOANS
IN T E R M E D I A T E - T E R M
(1 TO 7 YE AR S)
LOANS
1976— Q 1 . . . 1
-Q 2 ...I
-0 3 ...|
-Q 4 ...I
i
8 .7 7
8 .8 1
8 .7 8
8 .8 2
8 .92
8.91
8 .8 9
8.9 3
9 .1 5
9.21
9 .1 6
9 .2 2
9 .1 0
9 .1 7
9 .1 9
9 .2 2
1 977-Q 1. . . |
-Q 2 ...I
-Q 3 ...I
-Q 4 ...I
8 .8 4
8 .8 4
8 .8 4
8 .87
8.9 5
8 .9 6
8.98
8.9 8
9 .2 3
9 .3 3
9 .3 4
9.32
9 .2 3
9 .2 5
9 .2 5
9 .2 2
1 9 7 8 -0 1 ...|
-Q 2 ...I
-Q 3 ...I
-Q 4 ...I
j
6 .9 0
8 .9 4
9 .0 7
9 .2 7
9 .0 3
9.06
9.2 2
9 .40
9 .3 5
9.3 8
9 .5 4
9 .6 0
9 .2 3
9 .2 9
9 .4 6
9 .6 4
197 9 -Q 1 . . . |
-0 2 ...|
-Q 3 ...I
-Q 4 ...I
j
9 .8 8
10.20
10.45
11.52
9.9 5
10.28
11.09
11.59
10.24
10.62
10.80
11.81
10.03
10.30
10.51
11.31
1 9 8 0 -0 1 ...|
1
12.99
13.06
13.11
12.37
OATE OF
SURVEY
1
|
1
1
1
QUARTERLY SURVEY OF A GR IC U L T UR A L
TABLE 3 45 .1
CREDIT CO N DITIO NS,
T E N T H FEDERAL
L ON G-T ER M
REAL E S T A T E
LOANS
RESERVE D I S T R I C T — FEDERAL RESERVE
FARM REAL
ESTATE
BANK OF KANSAS C I T Y
VA LUES
MARKET VALUE OF GOOD FARMLAND
DA TE OF
SURVEY
|
|
DOLLARS PER ACRE
1 N0N 1RR IG AT ED
1 CROPLAND
IRRIGATED
CROPLAND
RANCHLAND
1
1 9 7 6 -Q 1 ...I
-Q 2 ...I
-3 3 ...|
-3 4 ...|
1
469.
491.
497.
528.
823.
884.
914.
991.
234.
254.
253.
259.
1 9 7 7 -0 1 ...|
-Q 2 ...1
-Q 3 ...I
-0 4 ...|
519.
530.
533.
518.
977.
980.
984.
961.
261.
272.
271.
264.
1978— Q 1 . . . 1
-Q 2 ...I
-3 3 ...1
-Q 4 ...1
j
530.
546.
561.
591.
980.
970.
1007.
1066.
264.
270.
280.
295.
1979— Q l . ••|
-Q 2 ...I
-0 3 ...1
—0 4 . . . |
|
615.
672.
695.
721.
1114.
1181.
1316.
1296.
297.
334.
335.
348.
1 9 8 0 -3 1 .• • |
739.
1273.
357.
|
________ L
i PER CEN TA GE CHANGE FROM PRE VIOUS QUARTER 1 PERCENTAGE CHANGE FROM PRE VI O U S YEAR
1
RANCHLANO
) N G N IR R IG A T E D IR R I G A T E D
IR R I G A T E D
RANCHLAND
1 N0N1RR1GATED
CRDPl AND
CROPLAND
1
CROPLAND
| CROPLAND
1
4444
4444
|
*444
4444
4444
6*4 6
1
4444
4444
j
4444
7 .4
8 .4
4 .6
1
4444
4444
|
4444
3 .5
-0 .3
1 .2
1
4444
4444
|
4444
8 .4
6 .2
2 .5
1
1
11.5
1
8
.
7
1
.
7
1
1
0
.
6
-1 .5
0 .6
1
7 .1
10.9
0 .4
4 .2
1
8 .1
2 .2
1
7
.
6
7 .0
-0 .4
1
7 .3
0 .3
0 .5
1
-3 .0
1 .7
-2 .8
-2 .3
-2 .6
1
-1 .9
1
1
1
1
1
L.
f1t
1
1
1
ft
1
1
1
_1_
2 .3
3 .1
2 .8
5 .3
2 .0
-1 .0
3 .7
5 .9
0 .0
2 .4
3 .6
5 .4
1
1
1
1
2 .1
3 .0
5 .4
14.2
0 .4
-1 .0
2 .3
10.9
1 .2
-0 .6
3 .4
11.9
4 .1
9 .2
3 .4
3 .8
4 .5
6 .0
11.5
-1 .5
0 .8
12.5
0 .2
3 .9
1
1
1
1
16.2
2 3.0
23.8
2 1.9
1 3.7
21.7
30.8
2 1.6
12.6
23.7
19.8
18.1
2 .5
-1 .8
2 .6
1
20.1
14.3
2 0.2
A GR IC UL TU R A L F IN A N C E
350
DATABOOK— QUART ERLV
S E R IE S
JANUARY
1980
DALLAS
3 51 .1
CURRENT
FARM N O N - R E A L - E S T A T E
352.1
FARM N O N - R E A L - E S T A T E LOAN VOLUME EX PE C TE D DURING THE CURRENT
QU A R TE R............................................................................................................................................................20
3 53.1
AVERAGE L O A N / D E P O S IT R A T I O AND OTHER C O N D I T IO N S THA T R E F L E C T
R E L A T I V E C R E D IT A V A I L A B I L I T Y ................................................................................................... 21
3 5 4 .1
MOST COMMON I N T E R E S T R A T ES
CHARGED ON FARM LOANS............................................... 21
355.1
TRENDS
VA LUE S AND LOAN VOLUME............................................ 22
I N FARM REAL
ESTATE
L EN D IN G
E X P E R IE N C E ............................................... 20
THE FEDERAL RESERVE BANK OF D A L LA S I N I T I A T E D A QU A RT ER iY SURVEY OF
AGR IC UL TU R A L C R E D IT C O N D I T IO N S ON J U L Y 1 , 1 9 7 5 .
A SAMPLE OF 331 MEMBER AND
“ INHCMetR BANKS HAS DRAWN T O PROVIDE R E P R E S E N T A T IO N OF BANKS OF ALL S I Z E S
-vxUUGHOUT THE EL EV EN TH FEDERAL RESERVE D I S T R I C T .
A RESPONSE RATE OF ABOUT 70
PER C EN T HAS BEEN E X P E R IE N C E D .
AS OF JAN UARY 1 9 7 6 , THE SURVEY COVERED 23 PER CENT OF ALL BANKS IN THE
LiS TR IC T.
THE E F F E C T I V E SAMP LING RAT E HAS R EL A TE D P R IM A R IL Y TC THE R E L A T I V E
IMPORTANCE OF FARM L E N D I N G .
OF THE 522 BANKS AT WHICH FARM LOANS COMPRISED
ON E- F OU R TH OR MORE OF T O T A L LOANS (B A S E D ON J U NE 197 4 D A T A ) , 54 PER CENT HERE
IN CLU DE D I N THE SU R V EY .
T H I S GROUP THUS ACCOUNTED FOR 85 PER CENT OF T H E
BANKS I N TH E S UR VEY .
SURVEY R E S U L TS ARE PU B LI S H E D AND D IS C U SS ED B R I E F L Y I N A QUARTERLY
S T A T I S T I C A L RELEASE E N T I T L E D - Q U A R T E R L Y SURVEY OF A GR IC U L T U RA L C R E D I T
C O N D I T IO N S IN EL EV EN TH F EDE RA L RESERVE D I S T R I C T , - WHICH MAY BE O B T A IN E D
FROM THE RESEARCH DEP AR TME NT, FED ERA L RESERVE BANK OF D A L L A S , S T A T I O N K ,
OA L L AS , T E X A S , 7 5 2 2 2 .
19
20
QUARTERLY SURVEY OF AGR IC U LT U R A L C R E D IT C O N D I T IO N S * EL EVE NT H FEDERAL RESERVE D 1 S T R CT — FEDERAL RESERVE BANK OF DALLAS
TA B IC 3 5 1 . 1
CURRENT FARM N O N - R E A L - E S T A T E L E N D IN G EXPERIE NCE * COMIPARED WITH USUAL C O N D I T I O N S
PERCENTAGE OF BANKS REPORT NG
FJND A V A I L A B I L I T Y
OEMAND FOR LOANS
DATE OF
SURVEY
LOWER
SAME
l o we r ”
HIGHER
SANE
HIGHER
LOAN REPAYMENT
SAME
LGWER
RATE
HIGHER
RENEWALS OR E X T E N S I O N S !
LOWER
SAME
HIGHER
1 9 7 5 -Q 3 ...
-Q 4 ...
20.
21.
50.
58.
30.
21.
12.
11.
50.
59.
38.
30.
37.
25.
57.
64.
6.
12.
6.
15.
48.
50.
47.
35.
1 97 6 —Q 1. . .
-Q 2 ...
- Q 3 . ••
-Q 4 ...
16.
17.
6.
7.
53.
55.
54.
46.
31.
28.
40.
47.
7.
7.
7.
14.
58.
58.
68.
62.
36.
36.
25.
24.
28.
21.
15.
65.
73.
78.
69.
7.
6.
7.
4.
11.
7.
8•
5.
55.
66.
74.
69.
34.
27.
20.
26.
1 9 7 7 -0 1 ...
-0 2 ...
- Q 3 . ••
-0 4 ...
14.
7.
5.
3.
51.
53.
43.
42.
35.
40.
52.
55.
15.
1 2.
15.
19.
51.
54.
63.
63.
34.
34.
22.
18.
28.
66.
67.
66.
59.
5.
7.
3.
3.
8.
5.
4.
4.
59.
59.
65.
52.
33.
35.
31.
44.
1 9 7 8 - Q 1 .••
-0 2 ...
— Q 3 . ••
—Q 4 . . .
B.
6.
4.
6.
45.
52.
47.
46.
47.
42.
48.
48.
20.
17.
28.
36.
65.
65.
57.
48.
15.
17.
14.
1 4.
49.
36.
29.
49.
61.
72.
61.
3.
4.
4.
9.
4.
4.
7.
10.
44.
55.
62.
60.
52.
41.
31 •
30.
197 9 — Q l . . .
-0 2 ...
-0 3 ...
-0 4 ...
8.
11.
12.
14.
43.
46.
54.
52.
49.
43.
34.
34.
40.
38.
37.
35.
46.
50.
51.
50.
13.
12.
11.
15.
28.
19.
18.
14.
61.
69.
66.
66.
1 1.
12.
1 6.
20.
14.
14.
13.
21.
57.
60.
66 .
64.
29.
27.
20.
15.
1 9 8 0 -0 1 ...
23.
52.
25.
20.
63.
17.
16.
68 .
1 6.
20.
60,
21.
26.
26.
31.
38.
25.
C O L L A T E R A L RE QU IR E D
I
LOWER
SAME
HIG HER
1
J
1
0.
1.
54.
61.
46.
38.
1.
0.
1.
0.
63.
68.
71.
68.
37.
32.
28.
32.
1.
0.
1.
1.
74.
70.
62.
68.
25.
30.
38.
32.
0.
1.
0.
1.
62.
59.
63.
59.
36.
40.
37.
41.
1.
1.
0.
0.
64.
56.
63.
58.
35.
43.
37.*
42.
1.
63.
36.
|
1
1
1
1
1
ft
1
1
l
1
1
1
V
1
1
1
1
1
1
1
1
1
1
1
|
ft
QUARTERLY SURVEY OF A GR IC U L TU R A L C R E D I T C O N D I T I O N S . EL EV EN TH FED ERA L RESERVE D I S T R I C T — FED ERA L RESERVE BANK OF OA LL AS
TA B L E 3 5 2 . 1
FARM N O N - R E A L - E S T A T E LOAN VOLUME EX PE C TE D DURING THE CURRENT QUARTER* COMPARED W IT H VOLUME OF LOANS MADE A YEAR E A R L IE R
PERCENTAGE OF BANKS REP ORT ING
TO TA L
SURVEY
| LOWER SAME HIGH ER
1
1
41.
1 9 7 5 -Q 3 .. • |
26.
33.
-0 4 ...|
23.
55.
23.
FEEDER C A T T L E
DAIR Y
LOWER SAME HIG HER
LOWER SAME HIGHER
OP E R A TI N G
FARM MACHINERY
LOWER SAME HIGHER
LOWER SAME HIGHER
CROP STORAGE
LOWER SAME HI GH ER
54.
38.
30.
42.
16 .
20.
34.
31.
59.
64.
6.
5.
15.
16.
55.
62.
30.
22.
13.
15.
36.
49.
52.
36.
29.
15.
42.
50.
30.
36.
8.
6.
8•
8.
17.
11.
14.
13.
57.
75.
59.
58.
26.
15.
26.
29.
7.
7.
7.
10.
43.
46.
45.
43.
50.
47.
48.
47.
10.
16.
14.
16.
57.
50.
52.
49.
33.
34.
35.
36.
197 6—Q l . ••|
-0 2 ...|
-0 3 ...1
- 0 4 . ..|
1
13.
11.
7.
14.
51.
52.
51.
44.
36.
37.
41.
42.
28.
30.
27.
41.
45.
55.
55.
46.
27.
1 5.
1 7.
13.
21.
1 8.
21.
17.
71.
76.
72.
75.
1 9 7 7 -0 1 ...|
-Q 2 . . . I
-0 3 ...1
-Q 4 ...I
I
11.
7.
6.
11.
50.
47.
50.
46.
39.
46.
44.
43.
27.
24.
23.
18.
57.
62.
59.
59.
1 5.
14.
18.
23.
14.
12.
15.
18.
81.
82.
73.
75.
5.
7.
13.
7.
9.
1 2.
11.
15.
61.
67.
56.
54.
30.
22.
33.
31.
8.
5.
3.
11.
44.
38.
40.
42.
48 •
57.
56.
47.
15.
14.
15.
30.
50.
48.
47.
43.
35.
38.
38.
27.
1 97 8 — Q l . . . |
-0 2 .-.. I
. 1
-0 4 ...|
*
9.
11.
6.
14.
44.
47.
50.
43.
47.
42.
44.
43.
1 3.
18.
11.
16.
60.
46 •
56.
45.
27.
36.
32.
39.
15.
14.
15.
18.
77.
72.
72.
73.
8•
14.
14.
9.
10.
11.
13.
12.
57.
61.
57.
60.
33.
28.
30.
28.
6«
10.
5.
11.
44.
36.
44.
46.
49.
54.
51.
43.
31.
28.
23.
20.
45.
48.
47.
51.
24.
24.
30.
29.
1979— Q l . . . |
-0 2 ...|
— 03 . . . 1
-0 4 ...|
i
1 9 6 0 -Q 1 .|
15.
18.
23.
20.
45.
48.
52.
53.
40.
34.
25.
27.
18.
22.
29.
19.
47.
51.
55.
60.
35.
27.
16.
21.
12.
19.
17.
16.
78.
73.
71.
72.
10.
8.
12.
12.
18.
11.
21.
13.
61.
77.
70.
66.
21.
13.
9.
21.
10.
14.
19.
11.
40.
41.
44.
51.
50.
45.
36.
39.
22.
18.
14.
19.
51.
48*
54.
45.
27.
33.
33.
36.
24.
50.
26.
33.
51.
16.
21.
66.
11.
22.
65.
13.
21.
39.
40.
22.
44.
34.
QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, ELEVENTH FEDERAL RESERVE D 1STR 1CT--FIDERAL RESERVE BANK OF DALLAS
TABLE 353.1
AVERAGE LOAN/DEPOSIT R AT IO ,
AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT A V A I L A B I L I T Y
NJMSER OF FARM LOAN REQUESTS REFERRED TO—
REFUSED OR |
REDUCED A I AC TIVE LY
FARM LOAN |SEEKING
REQUEST IN | NEN
PREVIOUS
I
FARM
HIGHER
QJARTER DUE I
LOAN
THAN
DESIRED TO SHORTAGE I ACCOUNTS
— Qf FUMQS ...1 ________
LOAN/DEPOSIT RATIO I S —
AVERAGE
LOAN/DEPOSIT
R AT IO
(PER CENTI
DATE OF
SURVEY
LONER
THAN
DESIRED
ABOUT
RIGHT
|
1
4 6.
4 8.
56.
50 .
17 .
15.
19.
26.
|
1
|
|
25.
31 .
22.
21.
59.
53.
5 3.
52 .
16.
17.
2 6.
2 8.
2 1.
25.
21 .
15.
56 .
51.
4 7.
54 .
52 .
55.
5 5.
61.
6 3.
5 8.
55.
1
1
25.
29 .
55.
55 .
1 9 7 6 -Q 1 .|
-Q 2 ...I
-G 3 ...I
-Q 4 ...I
■
1 97 7- Q1 . . . |
-Q 2 ...I
-Q 3 ...I
-Q 4 ...I
•
1978—Q1. . . 1
-Q 2 ...I
-Q 3 ...I
-Q 4 ...|
5 4.
5 5.
58 .
60.
1
1
1
37.
37 .
26.
24 .
1979—Q i . . . |
-Q 2 ...I
-Q 3 ...I
-Q 4 ...I
60.
1
1
1
57 .
58 .
62.
6 3.
1
1
1
1
I
1
I
1
60.
59.
62.
63.
i
1980—Q l . . . |
1
1
1
60.
62.
63.
1
1
2 2.
20.
19.
15.
59 .
1
23 .
1
20.
16.
1975—Q 3 . ••|
-Q 4 ...I
-
11.
12.
8.
40.
4 4.
CORRESPONDENT BANKS,
COMPARED NI TH
USUAL NUMBER
1
1
a
1
7.
7.
13.
49 .
51.
50.
4 5.
I
i
i
i
I
|
|
|
10.
10.
50.
49.
15.
9.
44.
i
i
i
i
a
23.
2 4.
31 .
3 1.
1
|
1
1
9.
15 .
14.
.
22
36.
36.
32.
32.
2 6.
25.
2 6.
2 4.
|
1
|
|
23.
.
24 .
18.
2 8.
30.
33.
35.
i
i
i
i
i
i
i
i
i
14 .
37 .
i
1
1
1
l
14.
|
39.
22
1
1
1
a
1
NONBANK AGENCIES,
COMPARED NITH
USUAL NJMBER
LONER
SAME
HIGHER
12.
13.
17.
14 .
59.
65.
22,
20,
13.
.
.
18.
19.
lo .
13.
17.
6 3.
71.
80.
74 .
18,
13,
7.
9,
14.
.
17.
.
12.
73.
6 5.
6 5.
6 4.
22,
21,
LOWER
SAME
27.
28 .
61.
60 .
22.
66.
2 3.
16.
19.
69.
72.
6 3.
16.
18.
17.
.
66.
68.
10
20
7.
9.
74.
73.
73.
.
15.
17.
.
24.
20
8•
8.
6.
15.
9.
14.
13.
69.
75.
6 9.
71 .
17.
16.
17.
16.
6.
7.
7.
13.
55.
63.
6 7.
67 .
20
18.
74.
8.
14.
63.
23,
12
10.
10.
70 .
72.
66
HIGHER
11
11
13.
14.
7.
5.
61.
64.
63.
.
60
15.
29,
31.
28
29,
35
38
30
26
QUARTERLY SURVEY OF AGRICULTURAL CREDIT CON DITIONS, ELEVENTH FEDERAL RESERVE D I S T R I C T — FEDERAL RESERVE BANK OF DALLAS
TABLE 3 5 4 .1
MOST COMMON INTEREST RATES CHARGED ON FARM LOANS
(AVERAGE, PER CENT!
1
LONG-TERM
REAL ESTATE
LOANS
FEEDER CAT TL E
LOANS
GTHER
OPERATING
LOANS
INTERMEDIATE-TERM
(1 TO 7 YEARS)
LOANS
1 9 7 5 -Q 3 ...I
-Q 4 ...I
9 .47
9 .60
9 .3 9
9 .4 1
9.36
9.44
9 .26
9 .3 2
1 97 6-Q 1 ...I
-Q 2 ...I
-Q 3 ...I
-Q 4 ...I
|
1 9 7 7 -0 1 ...|
-0 2 ...i
-0 3 ...1
-0 4 ...|
|
1978—Q l . . . |
-Q 2 ...|
- 3 3 . ..|
-Q 4 ...I
i
1979—Q l . . . 1
-Q 2 ...I
- 0 3 . ..|
-Q 4 ...I
|
1 9B 0- Q1 . . . I
____ !__
9.46
9.34
9.33
9.33
9 .4 2
9 .3 3
9.29
9 .3 1
9 .4 2
9 .4 0
9 .4 0
9 .4 1
9.36
9 .3 5
9 .3 6
9 .3 5
9 .27
9 .30
9.28
9.30
9.28
9.25
9.24
9 .2 6
9.37
9 .3 7
9.40
9.43
9.31
9 .3 2
9 .3 3
9 .3 9
9 .3 9
9 .4 3
9 .5 3
9 .7 5
9 .3 7
9 .4 2
9 .5 0
9.7*,
9.46
9 .5 2
9.58
9 .7 9
9.44
9 .4 8
9.56
9 .7 7
10.10
10 .25
10.35
11 .4 2
. OT
10 .25
10.34
11.33
10.08
10 .2 4
10 .3 5
11.31
10 .1 9
10.91
13 .12
13.02
12.92
11 .92
DATE OF
SURVEY
|
1
1
1
1
10
9 .99
10.12
21
22
QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS,
TABLE 3 55 .1
ELEVENTH FEDERAL RESERVE D I S T R I C T — FEDERAL RESERVE BANK OF DALLAS
TRENDS IN FARM REAL ESTATE VALUES AND LOAN VOLUME
PERCENTAGE OF BANKS EXPECTING
MARKET VALUE OF GOOD FARMLAND
DATE OF
SURVEY
1
|
|
DOLLARS PER ACRE
1.
1 DRY
1 LAND
1 * ** *
PERCENTAGE CHANGE
FROM PREVIOUS
QUARTER
IRRI RANCH-| ORYGATED LAND 1 LAND
1 9 7 5 -Q 3 ...I
-0 4 ...|
**• *
♦♦♦*
* ** *
****
*•**
****
1 9 7 6 -0 1 ... |
-0 2 ...|
-0 3 ...1
-0 4 ...|
j
• ***
*** *
397.
387.
****
♦ ***
652.
670.
***•
****
274.
264.
****
*** *
1 9 7 7 -Q I...I
-Q 2 ...I
-0 3 ...1
-0 4 ...|
395.
403.
414.
415.
685.
685.
722.
700.
287.
286.
303.
295.
1 9 7 8 -0 1 ...|
-Q 2 ...I
-Q 3 ...I
- 0 4 . ..|
435.
441.
449.
481.
704.
726.
781.
776.
300.
304.
344.
342.
4 .8
1 .4
1 9 7 9 -0 1 ...|
-0 2 ...|
-0 3 ...1
-Q 4 ...I
■
474.
519.
508.
539.
828.
928.
.
833.
866
369.
378.
394.
422.
-1 .5
9 .5
-2 .1
1 9 8 0 -Q 1 .|
545.
921.
399.
1
1
-2 .5
2.1
2.0
2 .7
0.2
1.8
7.1
PERCENTAGE CHANGE | PERCENTAGE OF BANKS EXPECTING
FROM PREVIOUS
1
TREND DURING THE CURRENT
YEAR
|
QUARTER TO BE—
1
IRRI RANCHGATED LAND
DRY
LAND
IRRI RANCH- |
GATED LAND 1
****
*»**
****
*** *
*** *
*** *
**»*
*** *
*** *
*** *
****
• ***
*** *
****
****
3 .6
♦ ***
*** *
****
*** *
**♦»
****
****
****
*** *
****
**»*
****
»**♦
****
4 .3
7 .2
***♦
****
10.7
4 .5
♦
• ***
j
2.8
2.2
0.0
5 .4
-3 .0
0.6
3 .1
7 .6
-0 .6
6 .7
12.1
-6 .7
6.1 - 3 . 8
1.1 10.6
1.1
-0 .3
5 .9
-2 .6
1 .7
1.3
13.2
-0 .6
10.1
9 .4
8 .5
15.9
DURING THE CURRENT QUARTER*
AS COMPARED MITH VOLUME MADE
A YEAR EARLIER* TO BE—
HIGHER
STABLE
UP
LOWER
SAME
4.
3.
87.
78.
9.
19.
22.
31.
57.
67.
3.
3.
.
3.
1
81.
80.
76.
76.
16.
17.
23.
.
21
16.
16.
18.
16.
72.
72.
.
67.
5.
4.
7.
13.
76.
69.
73.
71.
20
3 .9
|
|
19.
27.
.
16.
18.
17.
13.
23.
62.
16.
10.9
4 .5
6 .3
13.5
1 5.9
|
|
|
|
11.
2.
1.
2.
76.
70.
77.
72.
13.
28.
.
.
21
26
16.
17.
14.
24.
64.
67.
63.
65.
19.
16.
23.
.
2 3.0
2 4.3
14.5
23.4
|
|
|
|
3.
.
3.
.
2
2
71.
.
70.
62.
68
27.
29.
27.
36.
25.
28.
27.
26 •
61.
61.
61.
56.
13.
.
.
18.
|
__________ L
3.
70.
27.
41.
51.
8.
2.8
6.0
8.2
7 .9
2 .4
4 .2
7 .1
9 .0
17.7
13.1
12.1
17.6
27.8
10.9
7 .3
-5 .5
15.0
11.2
10.6
8.1
DOWN
1
|
j
1
|
j
J
|
•
1
|
68
66.
66.
66.
12.
11.
12.
12.
13.
17.
1 6.
17.
21.
12
11
12
*
JANJART 1980
AGRICULTURAL FINANCE DATABOOK— QUARTERLY SERIES
3 60
RICHMOND
3 6 1 .1
CURRENT
FARM N O N - R E A L - E S T A T E
LE N D IN G
3 62.1
FARM N O N - R E A L - E S T A T E LOAN VOLUME EX PE C T ED DURING THE CURRENT
QU AR TER ........................................................................................................................................................... 26
3 6 3 .1
AVERAGE LO A N /D E P O S IT R A T I O AND OTHER C O N D I TI O N S THA T R EF L EC T
R E L A T I V E C R E D I T AVI A L A B I L I T Y .................................................................................................. 25
366 .1
TYPICAL
365 .1
TRENDS
I N T E R E S T RA TE S CHARGED ON
I N FARM REAL
ESTATE
E X P E R IE N C E ................................................26
FARM LO A N S .................................................... 25
VALUES AND LOAN VOLUME............................................. 26
THE FEDERAL RESERVE BANK OF RICHMOND BEGAN A QUARTERLY SURVEY OF
AGR IC UL TU RA L C R E D IT C O N D I T IO N S ON OCTOBER 1 , 1 9 7 5 .
IN S E L E C T IN G THE
S A K ^ E , TH E 773 BANKS IN TH E F I F T H FEDERAL RESERVE D I S T R I C T HERE
S T R A T I F I E D ON THE B A S IS OF OU T S TA N D IN G DOLLAR VOLUME OF FARM LOANS , AND
THOSE BANKS H I T H A HIG H VOLUME OF FARM LOANS WERE SAMPLED MUCH MORE
HEA V ILY.
A T O T A L OF 66 BANKS WERE S EL EC TE D IN T H I S MANNER, OF WHICH 63
AGREED T O P A R T I C I P A T E IN THE S U R V E Y .
OF THE 18 BANKS WHERE OU T S T A ND IN G
FARM LOANS EXCEEDED *1 0 M I L L I O N (B AS ED ON J U NE 1976 D A T A ) , 16 WERE INCLUDED
IN TH E F I N A L SAMPLE OF 63 BANKS .
AN E X T EN SI VE D I S C U S S IO N OF SURVEY R E S U L T S I S PRESENTED QUARTERLY
I N A REPORT E N T I T L E D "FARM C R E D I T C O N D I T I O N S IN T H E F I F T H D I S T R I C T , " WHICH
MAY BE OB TA IN ED FROM SADA C L A R K E , RESEARCH DE PA R TM E NT , FEDERAL RESERVE
BANK OF RICHMOND, RICHMOND, V I R G I N I A , 2 3 2 6 1 .
23
24
QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, F I F T H FEDERAL RESERVE D I S T R I C T - F E D E R A L RESERVE BANK Of RICHMOND
TABLE 96 1. 1
CURRENT FARM NON -R£Al- EST A T £ LENDING EXPERIENCE, COMPARED WITH USUAL CONDITIONS
PERCENTAGE OF BANKS REPORTING
I
DATE OF
SURVEY
l_
|
1
DEMAND FOR LOANS
LOWER
SAME
FUND
HIGHER
LOWER
availability
SAME
HIGHER
1
1975-04... |
21.
51.
28.
10.
46.
4M.
1976-01... |
-Q 2 . . . 1
-Q3...I
-Q4...I
12.
6.
0.
11.
68.
71.
74.
74.
21.
23.
26.
14.
6.
6.
3.
3.
44.
43.
63.
68.
50.
51.
34.
29.
1977— Q1...I
-C2...I
-Q3...I
-Q4...I
0.
85.
60.
58.
62.
15.
34.
36.
27.
3.
6«
6.
12.
6.
9.
50.
63.
72.
71.
47.
37.
22.
21.
1978— Q l ... 1
-Q2...I
-03...1
— 04 . . . |
7.
21.
19.
10.
60.
36.
69.
61.
33.
42.
13.
29.
10.
27.
36.
32.
73.
67.
58.
65.
17.
6.
7.
3.
1979-01. . . |
-02...1
-03...1
-34... |
13.
9.
7.
16.
63.
65.
68.
58.
25.
27.
26.
26.
31.
27.
36.
26.
66.
74.
65.
74.
3.
0.
0.
0.
1980-01... |
21.
57.
21.
21.
71.
7.
i
1
|
•
_
0.
___________ ! _
r e p a y m e n t ~r a t e ”
LO AN
1
_
r
"l o w e r
i
i
i
i
1
i
i
i
i
i
1
i
i
i
i
i
i
i
i
i
i
1
i
i
i
i
i
i
__L
SAME "HIGHER
COLLATERAL 1RE QUIRED
R ENEWALS OR EXTENSIONS!
lower
SAME
HIGHER
1
LOWER
*
SANE
HIGHER
31.
62.
6.
5.
67.
28.
|
0.
77.
23.
21.
20.
0.
11.
71.
77.
97.
86.
9.
3.
3.
3.
3.
27.
20.
3.
9.
|
|
0.
11.
9.
71.
80.
66.
83.
76.
80.
83.
80.
24.
20.
17.
20.
24.
6.
11.
24.
77.
91.
89.
74.
0.
3.
0.
3.
12.
6.
0.
3.
59.
83.
86 .
67.
29.
11.
14.
30.
1
1
I
|
79.
79.
81.
85.
21.
21.
17.
15.
57.
30.
13.
10.
37.
70.
84.
81.
7.
0.
3.
3.
3.
3.
0.
0.
16
63.
36.
16.
16.
1
1
!
10.
33.
61.
61.
68.
|
0.
77.
73.
78.
84#
23.
27.
19.
16.
6.
6.
7.
10.
78.
85.
87.
87.
16.
9.
7.
3.
16.
12.
9.
3.
10.
13.
1
1
3.
75.
85.
90.
84.
1
0.
0.
75.
76.
71.
74.
25.
24.
29.
26.
29.
68.
4.
0.
57.
43.
!
0.
69.
31.
0.
•
0.
0.
0.
0.
1
|
0.
0.
3.
0.
3.
0.
0.
|
QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, FIFTH FEDERAL RESERVE DISTRICT— FEDERAL RESERVE BANK OF RICHMOND
TABLE 362.1
FARM NON-REAL-ESTATE LOAN VOLUME EXPECTED DURING THE CURRENT QUARTER, COMPARED WITH VOLUME OF LOANS MADE A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
DATE OF
SURVEY
DAIRY
TOTAL
OPERATING
FEEDER CATTLE
CROP STORAGE
1
1
1
1
1
1
1
1
1
1
LOWER
SAME
HIGHER
LOWER
SAME
HIGHER
I
LOWER
SAME HIGHER 1 LOWER SAME HIGHER 1 LOWER SAME HIGHER
1
1
|
J__
_L
JL
1 9 7 5 -0 4 ...|
•
1976— Q l . . . 1
-0 2 ...|
-Q 3 ...I
-Q 4 ...I
j
13.
6.
0.
6.
3.
58.
29.
61.
67.
.
77.
66
33.
33.
29.
.
20
197 7 — Q l . . . |
-0 2 . ..|
-0 3 ...I
-0 4 ...1
i
0.
6.
6.
73.
69.
56.
64.
24.
31.
39.
30.
1 9 7 8 -0 1 ...1
-Q 2 ...I
-Q 3 . . . |
-0 4 ...|
|
7.
-* •
A1# .
17.
62.
50.
59.
72.
31.
34.
.
.
22
10
1 9 7 9 -0 1 ...|
-0 2 ...1
-0 3 ...1
-Q 4 ...I
16.
•
17.
23.
55.
58.
62.
57.
29.
36.
.
.
21
20
198 0— Q l . . . 1
21.
54.
25.
•
3.
6
1 39.
1
1 37.
1 14.
1 19.
1 26.
1
1 19.
1 7.
1 28.
14.
1
I
1
1 15.
1 10.
1 21.
7.
1
I
1
1 15.
1 11.
1 27.
19.
1
I
1
1 26.
52.
9.
56.
61.
.
.
68
68
7.
25.
13.
7.
78.
87.
.
64.
4.
7.
7.
.
66
74.
80.
71.
71.
21
11.
10.
7.
21.
70.
71.
69.
82.
15.
18.
4.
.
70.
4.
0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
12.
76.
12.
25.
.
16.
.
57.
.
.
73.
66
66
18.
24.
19.
15.
23.
17.
79.
81.
70.
72.
11.
10.
7.
10.
11.
1 7.
21.
10.
85.
80.
79.
90.
17.
19.
.
25.
22
72.
75.
74.
.
68
4.
7.
26.
74.
0.
10
12
11.
10.
<» •
3.
.
.
0
0
10.
6.
1 14.
1
1 23.
1 19.
1 16.
1
1 7.
1
1 10.
1 9.
1 15.
1 19.
1
1
1 14.
1 28.
1 13.
1
1 10.
1
1 23.
1 30.
1 14.
1 28.
1
1 26.
58.
55.
69.
.
61.
68
73.
82.
55.
41.
57.
69.
67.
53.
65.
58.
62.
48.
56.
1
1
23.
1
13.
1
16.
1
32.
1
1
17.
1
9.
1
30.
1
41.
1
1
1
29.
1
3.
1
20. 1
37.
1
8
1
13.
»
12. 1
24.
1
24.
1
1
1
19.
1
28.
8•
59.
33.
3.
.
3.
.
47.
54.
.
77.
66
50.
46.
31.
17.
9.
56.
49.
36.
44.
41.
49.
56.
47.
13.
24.
16.
23.
37.
36.
44.
55.
50.
39.
41.
23.
19.
.
19.
23.
47.
50.
48.
42.
34.
44.
32.
36.
11.
46.
43.
0
6
3.
3.
8.
6
1 FARM MACHINERY
1
1 LOWER SAME HIGHER
JL
1 18.
1
1
1 21.
1 11.
1 17.
9.
1
a
9
6.
i
68.
i
i
i
3.
IT.
24.
57.
47.
59.
27.
40.
36.
18.
i
i
i
i
30.
30.
31.
23.
53.
46.
38.
48.
17.
24.
31.
29.
i
i
i
i
16.
.
26.
19.
56.
65.
48.
71.
28.
24.
26.
.
i
32.
54.
14.
1
1
a
1
i
1
12
49.
33.
41.
49.
60.
69.
38.
40.
23.
23.
10
QUARTERLY SURVEY OF A&RICULTUAAL CREDIT CON DITION S.
TABLE 363.1
AVERAGE L0AN/DEP0S1.T
DATE OF
SURVEY
RATIO .
AND PERCENTAGE OF
F I F T H FEDERAL RESERVE 01STR 1 CT --F E DE R AL RESERVE BANK OF RICHMOND
BANKS R EP OR T IN G OTHER C O N D I T I O N S
REFLECT
R ELATIVE CREDIT
A V AILA B ILITY
____ LLQk Eft.SAME-HIGHER. ______U n w FR SAME HIGHER
-JOf-fUUDS__ !_____
1 97 5-Q 4 ...I
1
1 9 7 6 - Q 1 . ••|
-Q 2 ...I
-Q 3 ...I
-0 6 ... |
1977—Q1. . . |
-Q 2 ...I
-Q 3 ...(
-Q 4 ...|
■
197 8—Q I . . . |
-Q 2 ...I
-Q 3 ...I
-Q 4 ...I
1
1 9 7 9 -Q 1 . . . 1
-Q 2 ...I
-Q 3 ...I
-0 6 ...(
l1
19 8 0 - Q l •••1
64.
2 8.
6 2.
1 0.
1
(
(
1
1
1
1
(
I
1
I
1
1
1
1
1
1
(
1
I
47.
40.
30.
3 4.
44.
54 .
55 .
57.
9.
6.
15.
9.
42.
34.
2 7.
3 6.
5B.
49.
50.
49.
0.
17.
24 .
15.
36.
25.
13.
20 .
43.
53 .
47.
4 7.
21 .
22 .
41.
33.
16.
1 5.
10.
10.
61.
6 2.5 8.
73 .
23.
2 4.
32.
17.
1
14 .
5 7.
29.
I
60.
61.
64.
62.
6 2.
64.
66.
65.
66.
65.
68.
67.
1
1
1 9 7 7 -0 1 ...(
-Q 2 ...I
-Q 3 ...I
-0 4 ...|
|
1978 -01. ••(
-0 2 ...I
-0 3 ...1
-0 4 ...1
|
- 1 9 7 9 - Q 1 .. . I
-0 2 ...1
-Q 3 ...I
-0 4 ...|
196D-Q1. . . 1
_____________J—
3.
3.
3.
0.
6 2.
(
71.
1
59. ‘ (
65.
1
76 .
63.
70.
71 .
ol
11.
0.
3.
21.
26 .
27.
24.
3.
0.
3.
3.
0.
0.
0.
0.
71.
82.
72 .
1
1
|
1
70.
65 .
6 6.
72.
6.
3.
3.
3.
21.
32 .
31.
25 .
3.
0.
0.
0.
1
1
1
1
78 .
71.
83.
71 .
0.
3.
0.
0.
22.
26.
13.
29 .
0.
0.
3.
0.
FIFTH
FEEDER CAT TL E
LOANS
I
1 97 5-0 4. . . (
A
1976— Q l . . . (
-0 2 . ..1
-Q 3 ...I
—Q 4 . . . |
63.
A G R IC U L TU R A L C R E D I T C O N D I T I O N S .
66.
4*6
8.
3.
3.
13.
13.
TYPICAL
I
|
|
|
i
1
|
|
|
|
I
1
(
|
|
(
*
1
(
|
1
1
|
|
|
|
1
|
65.
66.
6 8.
68.
QUARTERLY SURVEY OF
TABLE 3 6 6 . 1
DATE OF
SURVEY
THAT
NUMBER OF FARM LOAN REQ UESTS REFERRED T O —
REF US EO OR I
R ED J C ED A ( A C T I V E L Y
LO A N /D E P O S IT R A T I O I S —
NONBANK A GE N C IE S
CORRESPONDENT BANKS
FARM LOAN ( S E E K I N G
|
AVERAGE
I
|L O A N / D E P O S IH l
REQUE ST IN |
NEW
( C O H PA R ED -w m r
| RATIO
| LOWER
ABOUT
HIGHER
| COMPAREO W IT H
P R E VI O U S
I
FARM
| ( P E R C E N T ! | THAN
R IG H T
THAN
NONEI
US UAL NUMBER
NONE|
USUAL NUMBER
QUARTER DUE I
LOAN
O E S IR E D
D E S IR E O TO SHO RT A GE (A C C OU N TS
I _________________
I_________________
68.
73.
64.
56.
6 3.
66.
j
444
68 .
61.
6 1.
1
1
|
(
72 .
74 .
63.
76.
0.
0.
3.
0.
28 .
23 .
30.
2 4.
0.
3.
3.
0.
7.
64.
1 78 .
0.
2 2.
0.
FEDERAL
RESERVE D I S T R I C T — FE D ER A L
I N T E R E S T R A TE S CHARGED ON FARM LOANS
(A V E R A G E . PER C E N T I
OTHER
OPERATING
LOANS
INTERMEDIATE-TERM
( l TO 7 YEARSI
LOANS
LONG-TERN
REAL ESTATE
LOANS
8 .9 8
8 .9 8
9 .5 3
9.34
8.86
8 .8 1
8 .7 7
8 .9 0
8.81
8 .7 5
9 .4 8
9 .2 9
9 .2 6
9.20
9 .2 2
9 .2 6
9 .1 9
9 .3 1
4 .84
8 .7 8
8.84
8 .70
8 .8 9
8.73
8 .8 2
8 .7 4
9 .2 9
9.17
9 .2 6
9 .2 8
9.28
9.30
9 .3 5
9 .2 7
8.88
9 .6 0
4. 1C
4. *C
4 .4 0
9.50
9 .4 0
9.70
9.40
9 .5 0
9.60
9 .8 0
4 .88
4 .3 8
4 .6 8
44*
13.
6.
10.
7.
8.89
8.88
444
10.00
16 .30
46.90
11.48
10 .5 0
12.10
» e . 48
18. 76
U.O O
U*. » 0
11.20
11 .30
12. 3C
1 0 .3 0
10 .9 0
1 1 .4 0
11 .90
13 .08
tl.8 6
73 . %S
13.11
444
444
444
444
38.
36.
47.
47.
6.
7.
0.
6.
47.
45.
50 .
44.
9.
13.
3.
3.
41.
44.
48.
53 .
9.
3.
7.
6.
47.
44.
36.
2 5.
3.
9.
1 0.
1 6.
43.
33.
48.
52.
0.
0.
0.
0.
2 9.
33.
36.
36 .
29.
33.
16.
13 .
3 9.
3 9.
4 5.
5 9.
0.
0.
0.
0.
48.
39 .
41.
31.
13.
23.
14.
10 .
1 58 .
0.
23.
19.
1
1
1
1
1
1
1
1
1
(
1
1
1
1
1
1
(
1
1
1
1
(
(
1
I
1
RESERVE
BANK OF RICHMOND
a
26
QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS,
TABLE 365.1
TRENDS
IN
F I F T H FEDERAL RESERVE D I S T R I C T — fEDERAL RESERVE BANK OF RICHMOND
FARM REAL
ESTATE
VALUES AND LOAN VOLUME
MARKET VALUE OF GOOD FARMLAND
SURVEY
j
1
1
1
1
DOLLARS
PER
ACRE
PERCENTAGE CHANGE
FROM PRE VIO US —
QUARTER
PERCENTAGE OF BANKS E X P E C T IN G
TREND DURING THE CURRENT
QUARTER TO BE
PERCENTAGE OF BANKS E X P E C T IN G
FARM REAL E S T A T E LOAN VOLUME
DURING THE CURRENT QU AR TER ,
AS COMPARED W IT H VOLUME 1
A YEAR E A R L I E R , TO BE—
YEAR
DOWN
STABI F
....
UP
*** *
5.
82.
13.
11.
8 .4
-3 .8
5 .1
**♦*
***•
* ** *
3.
.
.
.
79.
80.
.
83.
18.
.
14.
17.
16.
18.
.
.
6
12
906.
910.
937.
935.
4 .3
0 .4
2 .9
-0 .1
0 .
10.1
6.
18.
18.
6
7 .6
0 .
82.
82.
83.
94.
1 9 7 8 -0 1 ...1
-0 2 ...1
-0 3 ...1
-Q 4 ...I
j
1017.
1071.
1074.
1105.
8 .7
5 .3
0 .3
2 .9
12.3
17.7
14.7
18.1
3.
.
1 9 7 9 -Q I...I
-0 2 ...1
-Q 3 ...I
-0 4 ...|
|
1 9 8 0 -0 1 ...|
1079.
1 16 5 .
1192.
.
-2 .4
1 9 7 5 -Q 4 ...I
777.
1 9 7 6 -Q 1 ...I
842.
810.
851.
669.
-Q 3 ...I
-Q 4 ...I
1
1 9 7 7 -Q l.
-Q 3 ...I
-Q 4 ...I
•
2.1
11.8
7 .6
12.3
0
0
0
0 .
87.
76.
75.
74.
20
11.
6.
10.
9.
•
6.
13.
16.
21.
18.
18.
75.
70.
67.
75.
16.
24,
27.
13.
68
10.
9,
10.
20.
0 .
49.
65.
81.
34.
52.
36.
19.
3 5.
.
1 8.
32.
59.
53.
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@FedFRASER