Full text of E.15 Agricultural Finance Databook : July 1985

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E.15 (125)

AGRICULTURAL FINANCE
DATABOOK
July 1985

Contents

Page

Profitability of farm capital......................................
2
Farm sector financial
data in 1983 dollars..........................
2
Farm sector financial
data in current dollars.....
7
Farm debt outstandingat reporting lending institutions.............
23
Farm lending operations and experience............... ............... 32
Farm credit conditions at commercial banks........................ .
41

The Agricultural Finance Databook was not issued in March and June 1985
while awaiting corrected historical data on certain farm debt and a more
realistic estimate of the current value of farm real estate. The notes
underlined on pages 2, 7, 23, and 32 indicate the series that have been
revised by the author on the basis of new information provided by the FCA
and USDA. The September issue will reflect USDAfs revisions in these and
other annual series.

A mailing list for the Agricultural Finance Databook (Statistical
Release E.15) Is maintained by Publications Services, Mail Stop 138,
Federal Reserve Boa,rd, Washington, D.C. 20551.

Emanuel Melichar




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

2

PROFITABILITY OF FARM CAPITAL
101

Rates of return to assets and equity.................

3

FARM SECTOR FINANCIAL DATA IN 1984 DOLLARS
112
122
342

Cash flow and returns to factors.....................
Disposition of funds from cash flow and borrowing....
Real capital gains.......................... .........

4
5
6

These series are shown in current dollars in Tables 111, 121, and 341, respectively.
The aggregate series in these tables are defined or derived in the tables listed on page 7.

Data are for the farm sector excluding farm households (operatorsf dwellings, household equipment and
furnishings, and all financial assets except currency, bank demand deposits, and stock in farmers’
cooperatives). Except as noted below, data are USDA series published in Economic Indicators of the Farm
Sector, Income and Balance Sheet Statistics, 1983, U.S. Department of Agriculture, Economic Research
Service, ECIFS 3-3, September 1984. Data shown in 1984 dollars have been adjusted, using the implicit
price deflator for personal consumption expenditures (PCE deflator), to reflect change in the value of
the dollar in making consumption expenditures.
Two series estimated by the author are substituted for USDA series.
"Returns imputed to operators’ labor"
are estimated as described in the appendix to Farm Wealth; Origins, Impact, and Implications for Public
Policy, W. I. Myers Memorial Lecture, A. E. Res. 83-40, Cornell University, June 1984. "Bank demand deposits"
are demand, NOW, and ATS accounts estimated as described in "Trends Affecting and Exhibited by Commercial
Banks in Agricultural Areas," Agricultural Communities: The Interrelationship of Agriculture, Business,
Industry, and Government in the Rural Economy, Committee on Agriculture, U.S. House of Representative,
October 1983. These series differ significantly from the USDA series they replace. Consequently, other
data derived using the new series (e.g., total assets, income from assets) also differ from their USDA
counterparts•
Data for 1984 and for January 1, 1985, are based primarily on information presented by USDA staff at the
Annual Agricultural Outlook Conference on December 4, 1984, except that farm debt held by lending institutions
has been revised to reflect year-end reports from these lenders, and the value of farm real estate has
been revised to reflect the results of the USDA’s April 1, 1985 survey. In addition, farm debt held by
PCAs and Federal Land Banks has been adjusted to include estimated nonaccrual loans inadvertently excluded
from their reports, starting in 1974, and the value of farm real estate has been revised to reflect new
estimates of the amount of land in farms, starting in 1980. The USDA will publish new estimates of these
and other series in September 1985.




TABLE 101
RATES OF RETURN TO FARM ASSETS AND EQUITY (EXCLUDING FARM HOUSEHOLDS)

YEAR

1

AMOUNTS, ANNUAL AVERAGE
CURRENT DOLLARS
(MILLIONS OF DOLLARS)

AMOUNTS, ANNUAL AVERAGE
1984 DOLLARS, PCE DEFLATOR
(MILLIONS OF DOLLARS)

RATES OF RETURN TO ASSETS
(PERCENT)

INTEREST

REAL
CAPITAL
GAINS

TOTAL
REAL
COST

6.9
4.4
-5.6
-5.0
1.8
1.0
3.4
2.2
6.5
-.2

10.5
9.0
-2.2
-3.2
3.1
2.9
5.3
3.9
9.5
1.0

4.9
5.3
5.2
4.9
4.7
4.8
5.0
5.1
5.1
5.2

5.7
3.6
2.0
1.2
.3
1.4
3.0
2.9
1.2
2.2

-.9
1.6
3.3
3.7
4.4
3.4
2.0
2.3
3.9
3.0

11.7
9.8
-2.9
-4.0
2.9
2.9
5.8
4.2
10.3
.7

2.3
2.4
2.1
2.3
1.5
2.4
2.5
2.0
1.5
2.0

-1.1
2.8
1.5
1.7
2.6
3.9
2.0
.7
.0
-1.0

1.3
5.2
3.7
4.0
4.1
6.3
4.5
2.7
1.5
1.1

5.5
5.4
5.4
5.5
5.5
5.6
5.7
5.9
5.9
6.1

1.6
.8
1.7
1.4
1.1
2.2
2.8
2.8
4.0
4.6

3.9
4.6
3.7
4.1
4.4
3.4
2.9
3.0
1.9
1.5

.9
5.3
3.6
4.0
4.1
6.9
4.8
2.7
1.5
1.0

540389.
547962.
586664.
664946.
685685.
702375.
774898.
825295.
889319.
965163.

1.8
2.0
3.6
7.1
4.5
3.4
1.8
1.6
2.6
2.7

-.6
3.4
8.1
11.3
-.1
7.7
10.0
4.2
8.7
4.9

1.2
5.4
11.7
18.4
4.4
11.2
11.8
5.8
11.3
7.6

6.4
6.4
6.3
6.9
7.5
7.5
7.7
7.7
7.9
8.7

4.3
3.7
3.6
7.4
9.2
5.4
4.7
5.2
7.4
8.6

2.2
2.7
2.7
-.5
-1.6
2.1
3.0
2.5
.5
.1

1.0
6.0
13.6
22.2
5.6
13.0
13.6
6.5
13.5
9.1

985074.
936948.
854942.
792494.
711194.

1.3
2.4
1.6
' 1.0
2.9

-.4
-7.8
-7.2
-3.3
-13.4

.9
-5.4
-5.6
-2.3
-10.6

9.6
10.6
10.9
10.0
10.7

9.0
6.8
4.2
3.2
3.1

.6
3.8
6.6
6.8
7.6

1.0
-7.4
-8.6
-4.7
-15.7

DEBT

EQUITY

ASSETS

DEBT

EQUITY

INCOME

1
1950. . i
1951 .
1 9 5 2 . . •!
1953. . . .
19 5 4 .
1955.
1956 .
1957 .
1958.
1959.

11 4952.
130017.
13 5667.
132859.
13 2989.
136474.
142216.
150346.
162300.
171583.

11444.
12393.
13 7 8 8 .
14886
15627
1 6 45 5.
17 1 9 8 .
17 9 2 3 .
19 9 6 5 .
21995.

103508.
117624.
121879.
117973.
117362.
120019.
125018.
132423.
142336.
149588.

445462.
473080.
482491.
463535.
460347.
467275.
478026.
488957.
517155.
535892.

44346.
45092.
49036.
51936.
54093.
56340.
57806.
58289.
63615.
68695.

401116.
427988.
433455.
411599.
406253.
410935.
420221.
430668.
453540.
467196.

3.6
4.6
3.4
1.9
1.3
1.9
1.9
1.7
2.9
1.2

1960.
1961.
19 62. . .
1963. . ,
19 64.
19 65.
1966 . . .
1967 .
1968.
1969.

173869.
178825.
186767 .
1945 06 .
202178.
214036.
228435.
240826.
253539.
265928.

23134.
24870.
27304.
3 0 02 1.
3 2 53 2.
3 5 45 7.
3877 8,
41 9 4 0 .
4 5 01 0,
47698.

150735.
153955.
159463.
164485.
169646.
78580.
189658.
198887.
208529.
218230.

533213.
543124.
558779.
573375.
587354.
611333.
634382.
652360.
660818.
663316.

70945.
75535.
81690.
88498.
94510.
101271.
107688.
113608.
117313.
118975.

462268.
467589.
477089.
484877.
492844.
510062.
526694.
538753.
543505.
544341.

1970.
1971 . , ,
1972.
1973. , #
1974.
1975.
1976 .
1977 . , .
1978.
19 79.

276400.
292706.
323831.
382928.
434003.
479713.
553925.
627316.
724758.
854828.

49 7 0 6 .
52 8 9 5
5 7 77 0,
64 1 7 6 ,
72036
80585
91 09 4
10 59 39 ,
12 3409
143540

226694.
239811.
266061.
318752.
361967.
399127.
462830.
521377.
601349.
711288.

658877.
668826.
714046.
798823.
822145.
844187.
927414.
992988.
1071825.
1159935.

118487.
120864.
127382.
133877.
13 6460.
141812.
15 2515.
167693.
18 2506.
19 4773.

962444.
1006247.
995439.
9706 11 .
911863.

162770
17 96 72
196329 .
203005 .
2006 69 .

799674.
826575.
799109.
767605.
711194.

1185580.
1140611.
1064988.
1002082.
911863.

200507.
203664.
210046 .
209587.
200669.




RATE OF
TOTAL
RETURN TO
EQUITY
(PERCENT)

TOTAL
RETURN

ASSETS

19 80.
1981 .
1982.
1983.
1984.

REAL
CAPITAL
GAINS

COST OF OUTSTANDING DEBT
(PERCENT)

1
!
1

3

4
TABLE 112
FARM CASH FLOW AND RETURNS TO FACTORS (LABOR, MANAGEMENT, AND CAPITAL)
1984 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS

GROSS
INCOME

YEAR

LESS:

EQUALS:

NONFACTOR
OPERATING
EXPENSES

CASH
FLOW
FROM
FACTORS

CAPITAL
CONSUMP­
TION

LESS:

EQUALS:
INCOME
FROM
FACTORS

EQUALS:

LESS:
HIRED
LABOR

RETURNS IMPUTED
TO OPERATORS1
LABOR

MANAGE­
MENT

(EXCLUDING FARM HOUSEHOLDS)

PLUS:

INCOME
FROM
ASSETS

REAL
CAPITAL
GAINS ON
ASSETS,
PCE BASIS

EQUALS:
TOTAL
RETURN
FROM
ASSETS

LESS:

PLUS:

EQUALS:

REAL
TOTAL
INTEREST
ON
RETURN
CAPITAL
FROM
DEBT
GAINS ON
DEBT,
EQUITY
PCE BASIS

1950...
1951...
1952...
1953...
1954...
1955. . .
1956...
1957...
1958...
1959. . .

123709.
134458.
129032.
114939.
113227.
109435.
109094.
108117.
119003.
112802.

45704.
50278.
49680.
44787.
45762.
46161.
46564.
47365.
51620.
53729.

78004.
84179.
79352.
70152.
67465.
63274.
62530.
60751.
67383.
59073.

8917.
9868.
10353.
10 568.
10831.
11022.
10 988.
11155.
11 248.
11668.

69087.
74311.
68999.
59584.
56634.
52252.
51542.
49596.
56135.
47404.

10893.
10628.
10161.
9546.
8986 .
8954.
8877 .
8892.
9056.
9076.

37523.
36877.
37540.
36842.
37492.
30047.
29410.
28138.
27386.
27615.

4702.
5048.
4886.
4449.
4346 .
4197.
4201.
4127.
4481.
4202.

15969.
21758.
16 412.
8747.
5810.
9055.
9054.
8440.
15212.
6511.

30728.
20717.
-27228.
-23385.
8299.
4661.
16 446.
10 777.
33794.
-975.

46697.
42476.
-10816.
-14637.
14109.
13716.
25501.
19 217.
49006.
5536.

2166.
2369.
2571.
2543.
2558.
2708.
2877.
3002.
3241.
3585.

2544.
1627.
973.
639.
166.
767.
1733.
1678.
764.
1532.

47075.
41733.
-12415.
-16542.
11 717.
11774.
24356.
17893.
46530.
3483.

1960. . .
1961 . . .
1962. . .
1963. . .
1964.. .
1965...
1966. . .
1967 . . .
1968. . .
1969. . .

113636.
117260.
120722.
121667.
116519.
126542.
133569.
1300 06 .
128294.
133639.

52150.
53673.
56432.
57654.
55991.
58215.
62398.
63829.
62545.
63813.

61485.
63587.
64289.
64013.
60529.
68326.
71171.
66177.
65749.
69827.

11571.
11547.
11 713.
11 918.
12204.
12 453.
12847.
13 455.
13 939.
14106.

49915.
52039.
52576.
52095.
48324.
55873.
58324.
52722.
51810.
55721.

9390.
9695.
9870.
10023.
10119.
10294.
10228.
10085.
10217.
10357.

23762.
24669.
26211.
24094.
24664.
25878.
27432.
24562.
26712.
26692.

4338.
4480.
4569.
4597.
4468.
4896 .
50 94.
4940.
4918.
5082.

12424.
13196.
11 926.
13381.
9074.
14806.
15 570.
13 135.
9963.
13 591.

-5665.
15304.
8483.
9555.
15098.
24004.
12990.
4706.
214.
-6353.

6759.
28500.
20409.
22936.
24172.
38810.
28560.
17841.
10177.
7237.

3889.
4091.
4422.
4876 .
5238.
5672.
6148.
6664.
6889.
7239.

1153.
596.
1371.
1241.
1082.
2244.
3007.
3206 .
4704.
5510.

4024,
25004.
17358.
19 301.
20016.
35381.
25 418.
14382.
7992.
5509.

1970. . .
1971. . .
1972. . .
1973. . .
1974. . .
1975. . .
1976 . . .
1977 . . .
1978...
1979...

132979.
134592.
149296.
198323.
177328.
167939.
162288.
160878.
176468.
191589.

64755.
66394.
69784.
84093.
82917.
79072.
83423.
83098.
87060.
95367.

68224.
68197.
79512.
114230.
94412.
88867.
78864.
77780.
89408.
96222.

14 040.
14466.
14820.
15 729.
16913.
18661.
19746 .
20841.
21219.
21878.

54183.
53731.
64692.
98501.
77499.
70206.
59118.
56939.
68189.
74344.

10279.
9919.
9984.
10752.
11508.
11590.
12574.
12589.
12346.
12956.

26954.
25348.
23634.
23893.
22089.
22877.
23768.
22673.
21219.
22982.

4992.
5040.
56 08.
7469.
6788.
6621.
6219.
6181.
6810.
7314.

11 959.
13423.
25466.
56388.
37114.
29119.
16 557.
15 496.
27814.
31092.

-3757.
22854.
57813.
90507.
-1168.
65349.
93193.
42060.
92836.
56820.

8202.
36278.
83279.
146894.
35947.
94468.
109750.
57556.
120651.
87912.

7638.
7716.
8086 .
9248.
10 286.
10691.
11742.
12894.
14 475.
17008.

5046 .
4438.
4626 .
9907.
12 531.
7699.
7111.
8706.
13557.
16717.

5610.
32999.
79820.
147554.
38192.
91477.
105120.
53367.
119733.
87622.

1980...
1981. . .
1982...
1983...
1984. . .

171431.
176414.
159368.
143506.
161750.

92223.
87540.
80535.
76410.
77900.

79208.
88873.
78832.
67096.
83850.

21911.
22125.
21146.
20133.
19 000.

57297.
66748.
57686.
46963.
64850.

12 653.
11526.
12912.
12056.
12 300.

23006.
20430.
21798.
19 484.
19 879.

6592.
7063.
6374.
5602.
6575.

15045.
27729.
16602.
9822.
26096.

-4442.
-89178.
-76549.
-32996.
-122408.

10 602.
-61449.
-59946.
-23174.
-96311.

19 262.
21671.
22826.
21027.
21500.

18069.
13 863.
8871.
6746.
6157.

9408.
-69257.
-73900.
-37455.
->111654.

i




TABLE 122
AMOUNT AND DISPOSITION OF FUNDS FROM FARM CASH FLOW AND BORROWING (EXCLUDING FARM HOUSEHOLDS)
1984 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS
1

LESSl
I EQUALS*
LESS*
j
I NONFACTOR CASH FLOW INTEREST
TO
PAID
1OPERATING
1EXPENSES OPERATORS
AND
1AND HIRED
LANDLORDS
1 LABOR

EQUALS:

EQUALS:

PLUS:

EQUALS:

LESS:

FUNDS FOR
CASH FLOW
NET
FUNDS FOR
FARM INVESTMENT
FARM
AFTER
BORROWING INVESTMENT,
INTEREST
TRANSFERS, CAPITAL EXPENDITURES ADDED TO INVENTORY TRANSFERS
AND NONFARM
AND NONFARM
USES
BUILDINGS MACHINERY LIVESTOCK CROPS
USES
_

YEAR

GROSS
INCOME

19 50.
19 51.
1952.
1953.
1954.
1955.
1956 .
1957 .
1958.
1959.

123709.
134458.
129032.
114939.
113227.
109435.
109094.
108117 .
119003.
112802.

56 598.
60907.
59 841.
54 333.
54748.
55115.
55 441.
56257.
60676.
62805.

67111.
73551.
69191.
60606.
58479.
54320.
53653.
51860.
58327.
49997.

2166.
2369.
2571.
2543.
2558.
2708.
2877 .
3002.
3241.
3585.

64945.
71182.
66619.
58063.
55921.
51612.
50776.
48858.
55087.
46411.

5344.
6022.
2674.
-1270.
2845.
4663.
26 18.
43 19.
5873.
7077.

70289.
77204.
69294.
56793.
58767 .
56 275.
53 394.
53177.
60959.
53488.

3410.
3398.
3375.
3168.
2953.
2921.
2901.
2842.
2680.
3482.

12215.
12 084.
10548.
11 168.
9481.
9450.
8087.
8170.
10037.
10 663.

2351.
3701.
2061.
-283.
902.
62.
-1160.
-686.
1837.
1306.

796.
607.
1217.
-1891.
799.
674.
-372.
2695.
791.
-1262.

51517.
57414.
52091.
44630.
44633.
43169.
43939.
40155.
45614.
39300.

1960.
1961.
1962.
1963.
19 64.
1965.
19 66.
1967 .
1968.
1969.

113636.
117260.
120722.
121667.
116519.
126542.
133569.
130006.
128294.
133639.

61541.
63368.
66303.
67677.
66109.
68509.
72626.
73914.
72762.
74169.

52095.
53892.
54419.
53990.
50410.
58033.
60943.
56 092.
55532.
59470.

3889.
4091.
4422.
4876.
5238.
5672.
6148.
6664.
6889.
7239.

48206.
49801.
49997 .
49114.
45172.
52360.
54795.
49428.
48643.
52232.

3370.
50 72.
7557.
8384.
7815.
10485.
9317.
8043.
4347.
6096.

51 577.
54873.
57 554.
57498.
52987 .
62845.
64112.
57471.
52990.
58328.

3683.
3511.
3839.
3894.
3867 .
39 6 2 .
4121.
4610.
4165.
42 1 3 .

8593.
8705.
9544.
10391.
10952.
11936.
12805.
13902.
11859.
11 287.

273.
1130.
1750.
1167.
-110.
-500.
614.
222.
568.
554.

945.
-109.
105.
687.
-2263.
3476.
-844.
1558.
-245.
-307.

38083.
41637.
42317.
41358.
40541.
43971.
47416.
37179.
36643.
42581.

132979.
134592.
149296.
198323.
177328.
167939.
162288.
160878.
176468.
191589.

75034.
76314.
79768.
94844.
94425.
90662.
95 997.
95 687.
99405.
108323.

57945.
58278.
69528.
103479.
82903.
77277.
66291.
65191.
77063.
83266.

7638.
7716.
8086.
9248.
10286.
10691.
11742.
12894.
14475.
17008.

50307.
50562.
61442.
94231.
72617.
66586.
54549.
52296.
62587.
66259.

5614.
10145.
11883.
18658.
15655.
16195.
18549.
22 874.
23462.
32389.

55921.
60707.
73325.
11 2889.
88272.
82781.
73099.
75170.
86049.
98 648.

44 7 0 .
43 78 .
39 36 .
5267 .
61 5 5 .
65 66 .
66 4 8 .
70 14 .
7703 .
75 82 .

11 723.
11 135.
12557.
15 952.
15524.
15 227.
16738.
16 754.
18839.
19385.

1585.
1051.
981.
3793.
860.
-1839.
-1152.
-1971.
-1886.
1166.

-1571.
2141.
917.
3313.
-3912.
7820.
-1440.
3680.
30 92.
5543.

39714.
42002.
54933.
84564.
69645.
55007.
52304.
49693.
58 300.
64970.

171431.
176414.
159368.
143506.
161750.

104877.
99066.
93448.
88465.
90 200.

66554.
77348.
65920.
55041.
71550.

19262.
21671.
22826.
21027.
21500.

47292.
55677 .
43094.
34013.
50050.

18820.
17663.
7792.
# 3375.
-1397.

66112.
73340.
50 887.
37 388.
48653.

63 93 .
5323
4045,
3352.
3000

15729.
13753.
10548.
10128.
9500.

1649.
324.
-738.
-344.

-8470.
8613.
-2000.
-11779.
8000.

50810.
45327.
39032.
36031.
28153.

•

.

##
•

•

•

•

1970.
1971.
1972.
1973.
1974.
19 75.
1976.
19 77.
1978.
1979.

f#
..
..

19 80.
1981.
19 82.
1983.
1984.

.%

'

#.




,

0 .

5

6
TABLE 342
REAL CAPITAL GAINS# PCE BASIS (EXCLUDING FARM HOUSEHOLDS)
1984 DOLLARS# PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS
physical

YEAR

TOTAL

TOTAL
ASSETS
TOTAL

REAL
ESTATE

MACHINERY
AND
MOTOR
VEHICLES

FINANCIAL ASSETS

As s e t s
LIVESTOCK

HOUSEHOLD
STORED EQUIPMENT
AND
CROPS
FURNISHINGS

TOTAL

CURRENCY
AND BANK
DEPOSITS

I NVt STMENTS
U. S.
IN
SAVINGS
BONDS COOPERA­
TIVES

DEBT
INCLUDING
CCC
LOANS

1950...
1951...
1952...
1953...
1954...
1955’ . . .
1956...
1957...
1958...
19 59...

33272.
22344.
-26255.
-22746.
8465.
5428.
18179.
12454.
34558.
557.

30728.
20717.
-27228.
-23385.
8299.
4661.
16446.
10777.
33794.
-975.

32960.
22119.
-26448.
-22915.
8414.
5174.
17514.
11752.
34220.
-203.

21879.
15665.
-2593.
-8578.
9917.
11608.
14186.
7907.
22105.
8668.

-1474.
1573.
-668.
-1085.
-100.
545.
1538.
-310.
2135.
1452.

10480.
2673.
-20148.
-10897.
-2877.
-2584.
1274.
8805.
9625.
-10006.

2075.
2208.
-3040.
-2355.
1474.
-4396.
515.
-4650.
355.
-318.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-2232.
-1402.
-780.
-470.
-115.
-513.
-1068.
-976.
-426.
-772.

-1766.
-1085.
-596.
-350.
-84.
-367.
-739.
-644.
-273.
-491.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-466.
-317.
-184.
-120.
-31.
-146.
-329.
-332.
-152.
-281.

2544.
1627.
973.
639.
166.
767.
1733.
1678.
764.
1532.

1960...
1961..,
1962...
19 63...
1964...
1965...
1966. . .
1967. . .
1968. . .
1969. . .

-4511.
15900.
9854.
10796.
16181.
26248.
15997.
7911.
4918.
-843.

-5665.
15304.
8483.
9555.
15098.
24004.
12990.
4706.
214.
-6353.

-5126.
15565.
9062.
10043.
15497.
24798.
14000.
5726.
1652.
-4692.

-2938.
12907.
7815.
15629.
17963.
18928.
10413.
10884.
1963.
-8156.

-999.
874.
837.
-296.
686.
-121.
240.
999.
120.
-1254.

40.
966.
4.
-6116.
-4408.
8256.
1780.
-2105.
10 30.
4933.

-1229.
818.
406.
826.
1257.
-2265.
1567.
-4052.
-1460.
-215.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-539.
-261.
-579.
-488.
-399.
-794.
-1010.
-1021.
-1438.
-1661.

-321.
-147.
-323.
-271.
-214.
-422.
-535.
-530.
-736.
-850.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-218.
-113.
-256.
-217.
-185.
-373.
-475.
-491.
-702.
-811.

1153.
596.
1371.
1241.
1082.
2244.
3007.
3206.
4704.
5510.

1970. . .
1288.
1971. . .
27293.
1972...
62439.
1973...
100414.
1974...
11363.
19 75...
73048.
1976...
100305.
1977... !
50766.
1 9 7 8 . . . | 106394.
1979...!
73537.

-3757.
22854.
57813.
90507.
-1168.
65349.
93193.
42060.
92836.
56820.

-2243.
24216.
59207.
93585.
2788.
67555.
95197.
44331.
95908.
60622.

-623.
18744.
41470.
73935.
30822.
63486.
92797.
43634.
71045.
51646.

257.
2182.
1385.
901.
9808.
9771.
4006.
3673.
1597.
4035.

-3443.
4877.
11462.
7289.
-40824.
7696.
-3483.
3861.
25198.
6302.

1567.
-1587.
4890.
11460.
2981.
-13398.
1878.
-6837.
-1932.
-1360.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-1514.
-1362.
-1394.
-3078.
-3955.
-2206.
-2004.
-2271.
-3071.
-3801.

-772.
-658.
-656.
-1473.
-1958.
-1048.
-888.
-931.
-1256.
-1477.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-743.
-704.
-738.
-1605.
-1997.
-1158.
-1116.
-1340.
-1816.
-2324.

5046.
4438.
4626.
9907.
12531.
7699.
7111.
8706.
13557.
16717.

-4442.
-89178.
-76549.
-32996.
-122408.

-598.
-86362.
-74789.
-31657.
-121197.

3563.
-61845.
-74387.
-34497.
-116608.

-1930.
2786.
4623.
444.
-489.

-9398.
-12995.
-2510.
-4635.
-1292.

7167.
-14308.
-2515.
7031.
-2808.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-3845.
-2816.
-1761.
-1339.
-1209.

-1420.
-964.
-597.
-447.
-349.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-2425.
-1852.
-1164.
-892.
-860.

18069.
13 863.
8871.
6746.
6157.

1980. .
1981. .
1982..
1983..
1984. .

.
13626.
.
-75315.
.
-67677.
.
-26250.
. -116250.

REAL CAPITAL GAINS IN CONSTANT DOLLARS ARE REAL CAPITAL GAINS IN CURRENT DOLLARS (TABLE 3 4 1 )
INFLATION, THE IMPLICIT PRICE DEFLATOR FOR PERSONAL CONSUMPTION EXPENDITURES.




DEFLATED BY AN INDEX OF GENERAL PRICE

FARM SECTOR FINANCIAL DATA IN CURRENT DOLLARS

Summary of income, expenditures, and returns
111
121

Cash flow and returns to factors.......... •••••••••
Disposition of funds from cash flow and borrowing...

8
9

Aggregate series used in these tables are defined or derived in the tables listed below.

Income, expenses, and capital expenditures
211
221
231
241

Gross income.............. ........ ................
Nonfactor operating expenses............. ..........
Capital consumption allowances.....................
Capital expenditures................... ............

10
11
12
13

Derivation of capital gains
These tables show each step in the calculation of real capital gains, as described in the footnotes.
311
321
331
341

Changes in assets, liabilities, and net worth......
Net investment............... ••••••••..............
Nominal capital gains......... ....................
Real capital gains......... ....................

14
15
16
17

Assets and equity
411
421

Balance sheet......... ............................. 18
Assets.............. ............................... 19

Liabilities
511
521
531

Total debt..................... .................... 20
Real estate debt............... ................... • 21
Non-real-estate debt...................... ......... 22

Data are from sources listed on page 2.




Before using these data, see the underlined notes on page 2

8
TABLE 111
FARM CASH FLOW AND RETURNS TO FACTORS (LABOR, MANAGEMENT, AND CAPITAL)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS

GROSS
INCOME

YEAR

1950.
1951 .
1952.
1953.
1954.
1955.
1956 .
1957 .
1958.
1959.
1960.
1961 .
1962.
1963.
1964.
1965.
1966 .
1967 .
19 68.
1969.
1970.
1971.
19 72.
19 73.
1974.
1975.
1976 .
1977 .
1978.
1979.
1980.
1981 .
1982.
1983.
1984.

. .
. .
. .
. .

##

,.
##
• • i

LESS:

EQUALS:

NONFACTOR
OPERATING
EXPENSES

CASH
FLOW
FROM
FACTORS

LESS:
CAPITAL
CONSUMP­
TION

INCOME
FROM
FACTORS

EQUALS:

LESS:

EQUALS:
HIRED
LABOR

RETURNS IMPUTED
TO OPERATORS1
LABOR

MANAGE­
MENT

(EXCLUDING FARM HOUSEHOLDS)

PLUS:

EQUALS:

INCOME
FROM
ASSETS

REAL
CAPITAL
GAINS ON
ASSETS,
PCE BASIS

TOTAL
RETURN
FROM
ASSETS

LESS:

PLUS:

EQUALS:

REAL
TOTAL
INTEREST
CAPITAL
RETURN
ON
FROM
GAINS ON
DEBT
EQUITY
DEBT,
PCE BASIS

31923.
36953.
36281.
32944.
32710.
31962.
32456.
33244.
37347 .
36117.

11794.
13818.
13969.
12837.
13 220.
13 482.
13853.
14564.
16200.
17203.

20129.
23135.
22312.
20107.
19490.
18480.
18603.
18680.
21147.
18 914.

2301.
2712.
2911.
3029.
3129.
3219.
3269.
3430.
3530.
3736.

17 828.
20423.
19 401.
17 078.
16 361.
15 261.
15334.
15 250.
17 617.
15 178.

2811.
2921.
2857 .
2736 .
2596.
2615.
2641.
27 34.
2842.
2906.

9683.
10135.
10556.
10 560.
10 831.
8776.
8750.
8652.
8595.
8842.

1213.
1387.
13 7 4 .
1275.
1256.
1226.
1250.
1269.
1406.
1345.

4121.
5980.
4615.
2507.
1678.
26 45.
2694.
2595.
4774.
2085.

7929.
5694.
-7656.
-6703.
2397.
1361.
4893.
3314.
10 606.
-312.

12050.
11674.
-3041.
-4195.
4076.
4006.
7587.
5909.
15 380.
1773.

559.
651.
723.
729.
739.
791.
856.
923.
1017.
1148.

657.
447.
274.
183.
48.
224.
516.
516.
240.
490.

12148.
11 470.
-3491.
-4741.
3385.
3439.
7246 .
5502.
14603.
11 1 5 .

37054.
38608.
40350.
41273.
40108.
44304.
48097.
47993.
49223.
53577.

17005.
17672.
18 862.
19 558.
19 273.
20382.
22469.
23563.
23997.
25583.

20049.
20936.
21488.
21715.
20835.
23922.
25628.
24430.
25226.
27994.

3773.
3802.
3915.
4043.
4201 .
4360.
4626 .
4967 .
5348.
5655.

16 276.
17134.
17 573.
17672.
16 634.
19 562.
21002.
19463.
19 878.
22339.

3062.
3192.
3299.
3400.
3483.
3604.
3683.
3723.
3920.
4152.

7748.
8122.
8761.
8174.
8490.
9060.
9878.
9067 .
10249.
10701.

1414.
1475.
1527.
1559.
1538.
1714.
1834.
1824.
1887 .
2037.

4051.
4345.
3986.
4539.
3123.
5184.
5607.
4849.
3822.
5449.

-1847.
5039.
2835.
3241.
5197.
8404.
4678.
1737.
82.
-2547.

2204.
9384.
6821.
7781.
8320.
13 588.
10284.
6586.
3905.
2902.

1268.
1347 .
1478.
1654.
1803.
1986.
2214.
2460.
2643.
2902.

376.
19 6 .
458.
421.
373.
786.
1083.
1183.
1805.
2209.

1312.
8233.
58 02.
6548.
6890.
12387.
9153.
5309.
3066.
2209.

55785.
58903.
67708.
95069.
93610.
95432.
96931.
101634.
119326.
141194.

27165.
29057.
31648.
40311.
43771.
44933.
49827.
52497.
58869.
70282.

28620.
29846.
36060.
54758.
49839.
50499.
47104.
49137.
60457.
70912.

58 90.
6331.
6721.
7540.
8928.
10604.
11794.
13166.
14348.
16 123.

22730.
23515.
29339.
47218.
40911.
39895.
35310.
35971.
46109.
54789.

4312.
4341.
4528.
5154.
6075.
6586.
7510.
7953.
8348.
9548.

11 307.
11 094.
10 719.
11 453.
11 660.
13 000.
14196.
14 324.
14 348.
16937.

2094.
2206.
2543.
3581.
3583.
3762.
3714.
3905.
4605.
5390.

5017.
5875.
11 549.
27030.
19592.
16547.
9889.
9790.
18 808.
22914.

-1576.
10 002.
26219.
43386.
-616.
37135.
55662.
26571.
62775.
41874.

3441.
15 877.
37768.
70416.
18976.
53682.
65552.
36361.
81583.
64788.

3204.
3377.
3667.
4433.
5430.
6075.
7013.
8146.
9788.
12 534.

2117.
1942.
2098.
4749.
6615.
4375.
4247.
5500.
9167.
12320.

2353.
14442.
36199.
70732.
20161.
51982.
62786.
33 715.
80962.
64574.

139166.
155632.
148960.
138999.
161750.

74866.
77228.
75276.
74010.
77900.

64300.
78404.
73684.
64989.
83850.

17787.
19519.
19765.
19 501.
19000.

46513.
58885.
53919.
45488.
64850.

10 272.
10 168.
12069.
11 677.
12 300.

18 676.
18 024.
20374.
18872.
19 879.

5352.
6231.
5958.
5426.
6575.

12 213.
24462.
15518.
9513.
26096.

-3606.
-78673.
-71550.
-31960.
-122408.

8607.
-54211.
-56031.
-22446.
-96311.

15 637.
19118.
21335.
20367.
21500.

14668.
12230.
8292.
6534.
6157.

7638.
-61098.
-69074.
-36279.
■- 11 1 6 5 4 .




TABLE 121
AMOUNT AND DISPOSITION OF FUNDS FROM FARM CASH FLOW AND BORROWING (EXCLUDING FARM HOUSEHOLDS)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
LESS:
GROSS
INCOME

YEAR

EQUALS:

LESS:

NONFACTOR CASH FLOW INTEREST
TO
PAID
OPERATING
EXPENSES OPERATORS
AND
AND HIRED
LANDLORDS
LABOR

EQUALS:
1 EQUAL S : |
LESS:
1
FUNDS FOR
NET
I FUNDS FOR
FARM INVESTMENT
CASH FLOW
FARM
BORROWING|INVESTMENT,
AFTER
I TRANSFERS, CAPITAL EXPENDITURES ADDED TO INVENTORY TRANSFERS
INTEREST
1AND NONFARM
AND NONFARM
BUILDINGS MACHINERY LIVESTOCK CROPS
USES
1
USES
EQUALS:

PLUS:

1 9 50 .
19 5 1 .
19 52 .
19 5 3 .
1954 .
19 5 5 .
1956 .
1957 . . .
19 5 8 .
1959.

31923.
36953.
36 281.
32 944.
32710.
31 962.
32456.
33 244.
37 347.
36117.

14 605.
16739.
16826.
15573.
15816.
16097.
16494.
17298.
19042.
20109.

17318.
20214.
19 455.
17 371.
16894.
15865.
15 962.
15 946.
18305.
16008.

559.
651.
723.
729.
739.
791.
856.
923.
10 17 .
11 4 8 .

16759.
19563.
18732.
16 642.
16 155.
15074.
15106.
15023.
17288.
14860.

1379.
16 5 5 .
752.
-364.
822.
1362.
779.
1328.
1843.
2266.

18138.
21218.
19484.
16278.
16977.
16 436.
15885.
16351.
19131.
17126.

880.
934.
949.
908.
853.
853.
863.
874.
841.
1115.

3152.
3321.
2966.
3201.
2739.
2760.
2406.
2512.
31 50.
3414.

607 .
10 1 7 .
579.
-81.
26 0 .
18.
-345.
-211.
576.
418.

205.
167.
342.
-542.
231.
197.
-111.
829.
248.
-404.

13294.
15779.
14647.
12792.
12894.
12608.
13072.
12347.
14315.
12583.

19 6 0 .
1 9 61 .
1962.
1963.
1964.
19 6 5 .
19 6 6 .
1967 .
1 9 68 .
1969.

37054.
38 608.
40 350.
41273.
40108.
44304.
48 097.
47993.
49223.
53577.

20067.
20864.
22161.
22958.
22756.
23986.
26152.
27286.
27917.
29735.

16987.
17 744.
18 189.
18315.
17 352.
20318.
21945.
20707.
21306 .
23842.

12 6 8 .
13 4 7 .
14 78 .
16 5 4 .
1803.
1 9 86 .
2214.
2460.
2643.
2902.

15 719.
16 397.
16711.
16661.
15549.
18332.
19731.
18247.
18663.
20940.

1099.
16 7 0 .
2526.
2844.
2690.
3671.
3355.
2969.
1668.
2444.

16818.
18067.
19237.
19505.
18239.
22003.
23086.
21216.
20331.
23384.

1201.
1156.
1283.
1321.
1331.
1387.
1484.
1702.
1598.
1689.

2802.
2866.
3190.
3525.
3770.
4179.
46 11.
5132.
4550.
4525.

89.
372.
585.
396.
-38.
-175.
221.
82.
218.
222.

308.
-36.
35.
233.
-779.
1217.
-304.
575.
-94.
-123.

12418.
13709.
14144.
14030.
13955.
15395.
17074.
13725.
14059.
17071.

19 7 0 .
1971. . .
1972.
19 7 3 .
19 7 4 .
1975.
1976 .
1977 .
19 7 8 .
19 7 9 .

55785.
58903.
67708.
95 069.
93610.
95432.
96 931.
101634.
119326.
141194.

31477.
33 398.
36176.
45465.
49846 .
51519.
57337.
60450.
67217.
79830.

24308.
25505.
31 532.
49 604.
43764.
43913.
39594.
41184.
52109.
61364.

3204.
3377 .
3667.
4433.
5430.
6075.
7013.
8146.
97 88.
12534.

21104.
22128.
27865.
45 171.
38334.
37838.
32581.
33 038.
42321.
48830.

2355.
4440.
5389.
8944.
8264.
9203.
11079.
14451.
15865.
23870.

23459.
26568.
33 254.
54 115.
46598.
47041.
43660.
47489.
58186.
72700.

1875.
1916.
1785.
2525.
3249.
3731.
3971.
4431.
5209.
5588.

4918.
4873.
5695.
7647.
8195.
8653.
9997.
10584.
12739.
14 286.

665.
460.
44 5 .
1818.
454.
-1045.
-688.
-1245.
-1275.
859.

-659.
937.
416.
15 88.
-2065.
4444.
-860.
2325.
2091.
4085.

16660.
18382.
24913.
40537.
36765.
31258.
31240.
31394.
39422.
47881.

1980.
1981 .
19 8 2 .
19 8 3 . . .
1984.

13 9166.
155632.
14 8960.
138999.
161750.

85138.
87396.
87345.
85687.
90200.

54028.
68236.
61615.
53312.
71550.

15637.
19118.
21 335.
20367.
21500.

38391.
49118.
40280.
32945.
50 050.

15278.
15583.
7283.
3269.
' -1397.

53 669.
64701.
47563.
36214.
48653.

5190.
4696.
3781.
3247.
3000.

12769.
12133.
9859.
9810.
9500.

1339.
286.
-690.
-333.
0.

-6876.
7598.
-1869.
-11409.
8000.

41247.
39988.
36483.
34900.
28153.

.

.
. .

. .
tt




*

9

10
TABLE 211
GROSS FARM INCOME (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS
UNREALIZED AND NONMONEY INCOME

CASH INCOME
YEAR

TOTAL

LIVESTOCK

CROPS

|GOVERNMENT!
PAYMENTS |
1

31923.
36953.
36281.
32944.
32710.
31962.
32456.
33244.
37347.
36117.

28764.
33186.
32873.
31298.
30190.
29842.
31096.
30899.
34767.
34556.

28461.
32858.
32528.
31001.
29832.
29490.
30 401.
29714.
33 456.
33647.

16105.
19619.
18238.
16 923.
16276.
15967.
16 363.
17376.
19227.
18904.

12356.
13239.
14290.
14078.
13556.
13523.
14 0 3 8 .
12338.
14 2 2 9 .
14743.

283.
286.
275.
213.
257.
229.
554.
1016.
1089.
682.

20.
42.
70.
84.
101.
123.
14 1 .
1 6 9.
222.
227 .

3159.
3767.
3408.
1646.
2520.
2120.
1360.
23 45.
2580.
1561.

812.
1184.
922.
-623.
491.
215.
-456.
618.
825.
14.

2063.
2304.
2220.
2007.
1789.
1678.
1585.
1484.
1505.
1289.

284.
279.
266.
262.
240.
227.
231.
243.
250.
258.

37054.
38608.
40350.
41273.
40108.
44304.
48097.
47993.
49223.
53577.

35194.
36900.
38472.
39458.
39843.
42215.
47128.
46380.
48166.
52532.

34248.
35164.
36468.
37477.
37326.
39365.
43435.
42817.
44183.
48179.

18989.
19 514.
20158.
20047.
19 948.
21886.
25026.
24383.
25487.
28573.

15259.
15650.
16310.
17430.
17378.
17479.
18409.
18434.
18696.
19606.

702.
1493.
1747.
1696.
2181.
2463.
3277.
3079.
3462.
3794.

244.
243.
257.
285.
336.
387.
416.
484.
521.
559.

1860.
1708.
1878.
1815.
265.
2089.
969.
1613.
1057.
1045.

397.
336.
620.
629.
-817.
1042.
-83.
657.
124.
99.

1205.
1109.
993.
921.
835.
811.
824.
736.
719.
731.

258.
263.
265.
265.
247.
236.
228.
220.
214.
215.

55785.
58903.
67708.
95069.
93610.
95432.
96931.
101634.
119326.
141194.

54784.
56534.
65732.
90320.
93768.
90715.
97122.
99216.
117134.
134699.

50509.
52748.
61106.
86886.
92391.
88902.
95355.
96235.
112870.
13 1768.

29532.
30479.
35583.
45772.
41326.
43089.
46323.
47635.
59162.
68594.

20 977.
22269.
25 523.
41 114.
51 065.
45813.
49032.
48600.
53 708.
63174.

3717.
3145.
3961.
2607.
530.
807.
734.
1819.
3030.
1375.

558.
641.
665.
827.
847.
1006.
1033.
1162.
1234.
1556.

1001.
2369.
1976.
4749.
-158.
4716.
-191.
2418.
2192.
6496.

6.
1397.
861 .
3406.
-1611.
3399.
-1548.
1080.
816.
4945.

776.
744.
889.
1115.
1190.
1128.
1185.
1160.
1191.
1324.

219.
228.
226.
228.
263.
189.
172.
178.
185.
227.

139166.
15 5632.
14 8960.
13 8999.
161750.

143333.
146393.
150228.
149552.
152500.

140507.
142557.
144762.
13 8719.
142000.

67800.
69215.
70139.
69203.
72000.

72707.
73342.
74623.
69516.
70000.

1286.
1932.
3492.
9294.
8500.

1540.
1904.
1974.
1539.
2000.

-4167.
9240.
-1268.
-10555.
9250.

-5537.
7884.
-2560.
-11743.
8000.

1141.
1132.
1050.
958.
1000.

229.
224.
242.
230.
250.

TOTAL

1950.
1951.
1952.
1953.
1954.
1955.
1956.
1957 .
1958.
1959.
1960.
1961 .
1962.
1963.
1964.
1965.
1966.
19 67.
1968.
1969.
1970.
1971.
19 72.
19 73.
1974.
1975.
1976.
1977.
1978.
1979.
1980.
1981.
1982.
1983.
1984.

#,
§,

,,
,.
#.

.
.
.
..

t.

.

.

MARKETINGS
TOTAL

1

THESE SERIES INCLUDE SHARE RENT AND GOVERNMENT PAYMENTS RECEIVED BY LANDLORDS.
RENTAL VALUE OF DWELLINGS IS FOR FARM LABORERS* DWELLINGS ONLY.




OTHER
FARM
INCOME

TOTAL

ADDITIONS!
HOME
RENTAL
TO
(CONSUMPTION VALUE OF
INVENTORY!
DWELLINGS

TABLE 221
FARM NONFACTOR OPERATING EXPENSES (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS
FARM-PRODUCED ITEMS
YEAR

MANUFACTURED ITEMS

TOTAL
TOTAL

FEED

LIVE­
STOCK

SEED

1 TOTAL

FERTIL­
IZER

LIME

FUEL

REPAIRS
AND
1 OPERAELEC­ 1 TION OF
PESTI­
CIDES TRICITY 1 CAPITAL
ITEMS

MACHINE
HIRE
OTHER
AND OPERATING TAXES
CUSTOM EXPENSES
NORK

1950...
1951...
1952...
1953...
1959...
1955...
1956...
1957...
1958...
1959...

11 799.
13 818.
13969.
12837.
13220.
13982.
13853.
19569.
16200.
17203.

5805.
7132.
6893.
5691 .
5999.
5985.
6023.
6979.
7751.
7928.

3283.
9199.
9331.
3770.
3906 .
3880.
3899.
9035.
9591.
9799.

2009.
2937 .
1918.
13 2 0 .
1563.
1539.
1610.
1939.
27 02.
26 93.

518.
551.
59 9 .
551 .
525.
566.
519.
510.
508.
991.

1
I
I
1
I
I
I
1
I
I
I

2917.
2609.
2763.
2791.
28 65.
2911.
2997.
2956.
3019.
3227.

868.
959.
10 78 .
1099.
11 3 6 .
1106 .
10 7 9 .
10 7 6 .
1 1 13 .
1238.

1 0 7.
10 5.
10 6.
79.
73.
79.
87.
90.
93.
99.

1192.
12 50.
1288.
1338.
1366 .
1903.
1939.
1969.
1997.
1997.

179.
1 9 5.
1 9 0.
15 5.
1 6 7.
200.
269.
1 9 9.
226.
286 .

71.
95.
1 0 1.
12 0.
1 2 3.
1 2 3.
1 2 8.
13 2.
1 9 0.
162.

15 8 8 .
18 0 2 .
1959.
19 3 2 .
18 6 1 .
19 0 8 .
2063.
2161 .
2195.
2381.

95.
96.
16 0.
192.
231.
282.
331.
909 .
559.
583.

1129.
1310.
1331.
1338.
1307.
1378.
1382.
1992.
1519.
1805.

810.
879.
913.
993.
962.
1018.
1057 .
1117 .
1162.
1279.

1960...
1961 . . .
1962...
1963...
1969...
1965...
1966...
1967 . . .
1968. . .
1969...

17005.
17672.
18 862.
19558.
19 273.
20382.
22969.
23563.
23997.
25583.

7577.
8037 .
8856.
9235.
8592.
9306.
10705.
10 8 9 1 .
10869.
12196.

9552.
9763.
5187 .
5690.
5512.
5679.
6901.
6696.
6357.
7100.

2506.
2729.
3109.
2926.
2919.
2912.
3599.
3931 .
3676.
9225.

519.
59 5 .
56 5 .
619.
661.
720.
760.
819.
831.
871.

I
I
I
I
I
I
I
I
I
I

3295.
3975.
3639.
3859.
9082.
9289.
9699.
5127.
5186.
5213.

12 5 2 .
1393.
1996.
1600.
17 7 2 .
18 7 7 .
2098.
2317 .
2323.
2209.

92 .
99.
98.
1 1 2.
11 6 .
1 1 7.
1 2 1.
11 2.
11 1 .
10 3.

19 8 9 .
1508.
1512.
1535.
1599.
1567.
16 1 6 .
1657.
1662.
1717.

29 0 .
3 3 0.
368.
379.
902.
979.
562.
791.
827.
906.

1 7 7.
200.
215.
228.
293.
299.
252.
250.
263.
278.

2291.
2151.
2189.
2138.
2079.
2095.
2238.
2932.
2999.
2969.

695.
613.
622.
661.
657 .
735.
765.
868.
909.
993.

1879.
1997 .
2092.
2097.
2239.
2255.
2282.
2301.
2989.
2509.

1373.
1999.
1519.
1573.
1639.
1707 .
1830.
1999.
2110.
2258.

1970...
1971. . .
1972...
1973...
1979...
1975...
1976...
1977...
1978...
1979. . .

27165.
29057.
31698.
90311.
93771.
99933.
99827.
52997.
58869.
70282.

13280.
19299.
16180.
22906.
21585.
19999.
22620.
23523.
27259.
33 291.

8028.
8099.
8397.
13 229.
19513.
12907.
19370.
13967.
19966.
17655.

9329.
5123.
6668.
8065.
5131.
9959.
5889.
7072.
10150.
12626.

928.
1072.
1115.
1617.
19 9 1 .
21 3 8 .
2366 .
2989.
2638.
2960.

I
I
I
I
1
I
I
I
I
I

5910.
5856.
6197.
7203.
10757.
12355.
13900.
13892.
15279.
18971.

2390.
2563.
2620.
3902.
5898.
6506.
6255.
6308.
6361.
7223.

95.
91.
10 1 .
10 1 .
156.
15 9.
213.
221.
259.
307.

1711.
1722.
1688.
1877.
2690.
3318.
3966.
9356.
9610.
6293.

960.
1193.
1367.
1919.
1513.
1783.
2108.
1938.
26 56.
3057.

309.
337.
37 1 .
909.
501.
599.
858.
1069.
1389.
1691.

2589.
2709.
2790.
3097 .
3665.
9235.
9879.
5930.
6227.
6991.

913.
1091.
10 52.
1302.
1302.
1591.
1596.
1682.
1776.
2257 .

2595.
2729.
2991.
3196.
3612.
3897.
9193.
9571.
9995.
5732.

2383.
2983.
2588.
2657 .
2850.
2956.
3239.
3399.
3393.
3590.

1980...
1981. . .
1982...
1983...
1989...

79866.
77228.
75276.
79010.
77900.

32 575.
31 681.
30 529.
31 223.
31000.

18783.
18755.
16855.
18963.
18200.

10 991.
8996.
9689.
8792.
8800.

3351 .
3930.
39 85.
3968.
90 00.

I
I
I
I
I

22869.
29 989.
22856.
20861.
23000.

9998.
9632.
8961.
71 15.
8300.

929.
992.
356.
312.
900.

7876.
8855.
8321.
7652.
8100.

3306.
3585.
3617.
3515.
3800.

1760.
1975.
2101.
2267.
2900.

7683.
7763.
7861.
7877.
8900.

2297.
2768.
2835.
2196 .
2800.

5839.
6585.
7116.
7693.
8200.

3658.
3992.
9089.
9260.
9500.

THESE SERIES INCLUDE EXPENSES OF LANDLORDS.




11

TABLE 231
CAPITAL CONSUMPTION ALLOWANCES (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS

YEAR

i
1
i

BUILDINGS AND LAND IMPROVEMENTS
TOTAL
TOTAL

I

OPERATORS*
DWELLINGS

1960. . . .
1 9 6 1 ____
1 9 6 2 ____
1 9 6 3 ____
1 9 6 9 ____
1 9 6 5 ____
1966 ____
1967 ____
1 9 6 8 ____
1 9 6 9 ____
1 9 7 0 ____
1 9 7 1 ____
1 9 7 2 ____
1 9 7 3 ____
1 9 7 9 ____
1 9 7 5 ____
1976 ____
1977 ____
1 9 7 8 ____
1 9 7 9 ____

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

5890.
6331.
6721.
7590.
8928.
10609.
11799.
13166.
19398.
16123.

1298.
1366 .
1967 .
1706 .
20 15.
2151.
2293.
2666.
29 09.
3206 .

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

1 9 8 0 ____
1 9 8 1 ____
1 9 8 2 ____
1 9 8 3 ____
1 9 8 9 ____

.1
.1
.1
.1
.1
1

17787.
19519.
19 7 6 5 .
19501.
19000.

3633.
3882.
3695.
3989.
3300.

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




TOTAL

J

2301.
2712.
2911.
3029.
3129.
3219.
3269.
3930.
3530.
3736.

918.
509.
990.
512.
559.
591.
559.
605.
602.
639.

3773.
3802.
3915.
9093.
9201.
9360.
9626.
9967.
5398.
5655.

697.
679.
711 .
755.
809.
853.
973.
1070 .
12 0 9 .

888.

*****

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

*****
*****

*****
*****

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

*****
30 * * * *
*****
*****

*****
*****

MOTOR VEHICLES

r
|

1

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

1 9 5 0 ____
1 9 5 1 ____
1952...,
19 53....
1 9 5 9 ____
1 9 5 5 ____
1956.. . .
1957 ____
1 9 5 8 ____
1 9 5 9 ____

OTHER

MACHINERY

TOTAL

TRACTORS

r
i

OTHER

TRUCKS

AUTOS

1

397 .
382.
389.
36 9 .
359.
396 .
3 5 8.
387 .
397.
925.

269.
328.
379.
910.
950.
976 .
982.
501.
515.
532.

875.
1029.
1139.
1195.
12 2 2 .
1292.
1 2 79 .
1317 .
1379.
1969.

918.
509.
990.
512.
559.
591.
559.
605.
602.
639.

1883.
2203.
2921 .
2517 .
2575.
2628.
2710.
2825.
2928 .
3102.

1008.
1179.
12 8 2 .
13 2 2 .
13 5 3 .
1386 .
1936 ,
15 0 8 .
1559.
16 38 .

697.
679.
711.
755.
809.
853.
973.
1070.
1209.

3126.
3123.
3209.
32 8 8 .
3392.
3507 .
3738.
3999.
9278.
9996 .

15 9 8 .
15 7 2 .
1637 .
1685.
1723.
1736 .
18 2 3 .
18 7 8 .
1975.
2002.

682.
668.
683.
695.
739.
788.
860.
93 2 .
989.
10 1 9 .

931.
959.
501 .
527 .
538.
539.
562.
57 0 .
596 .
611.

985.
995.
953.
963.
996 .
919.
901 .
376.
390.
377 .

1528.
1551 .
1567 .
1603.
1669.
1771.
1915.
2116 .
2303.
2999.

1298.
1366.
1967 .
1706.
2015.
2151 .
2293.
2666.
29 09.
3206.

9592.
9965.
5259.
5839.
6913.
8953.
9501.
10500.
11939.
12917.

1991 .
2168.
2299.
2969.
2896.
3939.
9051 .
9569.
9992.
5705.

10 1 5 .
10 8 8 .
11 2 3 .
12 6 7 .
1613.
2012.
2362.
2952.
27,20.
3)79.

619.
711 .
792.
799.
873.
1019.
12 9 9 .
1590.
16 3 0 .
1853.

357 .
369.
379.
398.
910.
913.
990.
577.
692.
673.

2601 .
2797 .
3010.
3370.
9017 .
5019.
5950.
5931 .
6997 .
7212.

36 33.
3882.
3695.
3989.
3300.

19159.
15637.
16070.
16017.
15700.

6197 .
7093.
7139.
7093.
6900.

3625.
9092.
9056 .
3881 .
3700.

1899.
2108.
2210.
2322.
2300.

673.
893.
873.
890.
900.

8007 .
8599.
8931 .
8929.
8800.

888.

397 .
969.
519.
593.
599.
569.
596 .
620 .
692.
681.

TABLE 241
CAPITAL EXPENDITURES (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS
BUILDINGS AND LAND IMPROVEMENTS

1 9 7 0 ____
1 9 7 1 -----1 9 7 2 ____
1 9 7 3 ____
1 9 7 4 ____
1 9 7 5 ____
1976 ____
1977 ____
1 9 7 8 ____
1 9 7 9 ____

I
1
1
1
.I
. I
.1
.1
. I
. I
. I
.I
.1
.I
j
. |
. I
.|
.I
.1
. I
.1
. I
.1
.1
i
.1
.1
. |
.1
.1
.1
.1
.1
.1
.1

1 9 8 0 -----1 9 8 1 -----1 9 8 2 ____
1 9 8 3 ____
1 9 8 4 ____

.1
.1
.1
.1
.1

YEAR

1950 ____
1 9 5 1 ____
1 9 5 2 ____
1 9 5 3 ____
1 9 5 4 ____
1 9 5 5 ____
1 9 5 6 ____
1957 ____
1 9 5 8 ____
1 9 5 9 ____
1 9 6 0 ____
1 9 6 1 ____
1 9 6 2 ____
1 9 6 3 ____
1 9 6 4 ____
1 9 6 5 ____
1966 . . . .
1967 ____
1 9 6 8 ____
1 9 6 9 ____




TOTAL

1
1
___ 1
1
4032.
i
4255.
1
3915.
1
4109.
35 9 2 .
i
3613.
1
3269.
i
33 8 6 .
1
3991.
1
4529.
1
i
1
4003.
1
4022.
1
4473.
1
4846.
1
5101.
1
5566.
1
6095.
1
6834.
1
6148.
1
6214.
1
1
1
6793.
i
6789.
i
7480.
i
10172.
i
11444.
i
12384.
i
13968.
i
15015.
i
17948.
i
19874.
i
1
1
17 959.
i
16 829.
i
13640.
i
13 057.
i
12500.
i

TOTAL

OPERATORS'
DWELLINGS

OTHER

MACHINERY
TOTAL

_

i
I
1

MOTOR VEHICLES
TOTAL

TRACTORS

i
i
1

OTHER

TRUCKS

AUTOS

769.
807.
755.
722.
57 0.
689.
525.
522.
677.
797 .

502.
450.
349.
378.
377.
309.
325.
371 .
381.
425.

463.
515.
316 .
703.
502.
484.
395.
484.
548 .
464.

1418.
15 4 9 .
1546 .
1398.
1290.
1278.
1161 .
1135.
1544.
1728.

880 .
934.
949.
908 .
853.
853.
863.
874.
841 .
1115.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
x xx x x
xxxxx

880.
9 3 4.
949 .
908.
853.
853.
863.
874.
84i.
1115.

3152.
3321.
2966 .
3201 .
2739.
2760.
2406.
2512.
3150.
3414.

1734.
1772.
1420.
1803.
1449.
1482.
1245.
1377 .
1606.
1686 .

1201 .
1156 .
1283.
1321 .
1331 .
1387.
1484.
1702.
1598.
1689.

xxxxx
xxxxx
x xx x x
x xx x x
XXXXk
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

1201.
1156 .
1283.
1321.
1331.
1387 .
1484.
17 0 2 .
15 9 8 .
1689.

2802.
2866 .
319U.
3525.
3770.
4179.
4611.
5132.
4550.
4525.

1344.
1413.
1650.
1746.
1868.
1940.
2113.
2129.
2060.
2003.

494.
579.
687 .
786 .
849.
986 .
1209.
1168.
1168.
1073.

430.
472.
514.
543.
586 .
529.
511 .
576 .
535.
567.

420.
362.
449.
417 .
433.
425.
393.
385.
357.
363.

1458.
1453.
1540.
1779.
1902.
2239.
2498.
3003.
2490.
2522.

1875.
1916.
1785.
2525.
3249.
3731 .
3971 .
4431 .
52 09.
5588.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

1875.
1916.
1785.
2525.
3249.
3731 .
3971 .
4431 .
5209.
5588.

4918.
4873.
5695.
7647.
8195.
8653.
9997 .
10 584.
12 739.
14 286.

20 30.
2137.
2464.
3066.
3405.
3833.
4604.
4927 .
5581 .
6284.

1123.
1188.
1418.
1923.
2236.
2460.
2648.
2776.
3283.
3746.

597.
630.
672.
733.
864.
1083.
1547.
1655.
1829.
2054.

310.
319.
374.
410.
305.
290.
409.
496 .
469.
484.

2888.
2736.
3231.
4581.
4790.
4820.
5393.
56 57 .
7158.
8002.

5190.
4696 .
3781.
3247 .
3000.

xxxxx
x xx x x
xxxxx
xxxxx
xxxxx

51 90.
4696 .
3781 .
3247 .
3000.

12 769.
12 133.
9859.
9810.
9500.

5813.
5652.
4755.
4959.
4810.

3683.
3740.
2877.
2766.
2680.

1756.
1522.
1514.
1766 .
1730.

374.
390.
36 4 .
427 .
400 .

6956 .
6481.
5104.
4851 .
4690.

,

14
TABLE 311
CHANGES IN ASSETS, LIABILITIES, AND NET NORTH (EXCLUDING FARM HOUSEHOLDS)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
PHYSICAL ASSETS
YEAR

NET
NORTH

1950...
1951...
1952...
1953...
195A. . .
1955...
1956...
1957...
1958...
1959...

161A2.
12 090.
-3581.
-A230.
3008.
2306.
7692.
7118.
12707.
1797.

16609.
13521.
-2221.
-339A.
365A.
3316.
8167.
809A.
1581A .
2751.

1960. . .
1961...
1962...
1963...
196A . . .
1965...
1966. . .
19 67. . .
1968...
1969...

A98 .
59A1.
5075.
A969.
5353.
12515.
96A1.
8817.
10A67.
8936.

1821.
8091.
7793.
7685.
7659.
16 058.
127 AO.
120A2.
13383.
11396.

1970.. .
1971...
1972...
1973...
197 A . . .
1975...
1976. . .
1977.. .
1978. . .
1979...

7992.
182A2.
3A258.
71123.
15308.
59012.
6839A.
A8699.
1112AA.
108635.

95A7.
23066.
39183.
79011.
2 3 1 AO.
68279.
8 0 1A5.
66638.
1282A5.
131896.

1980...
1981...
1982...
1983...
198A. . .

68138.
-1A337.
- A0 5 9 A.
- 22 A1 A.
-90A09.

83336.
A27 0.
-25887.
-23769.
-93726.

!

FINANCIAL ASSETS
HOUSEHOLD
STORED EQUIPMENT
CROPS
AND TOTAL TOTAL
FURNISHINGS

16 382.
13 070.
-23A2.
-3368.
3597.
3529.
8A82.
7970.
15 233.
3097.

10 330.
77A2.
1A88.
-99A.
3A33.
A903.
7A53.
5728.
8600.
5906.

1530.
2035.
658.
562.
18A.
51A.
66 A .
98.
1119.
1198.

A206 .
2A27 .
-A7A6.
-3036.
-535.
-582.
36 9 .
2862.
3796.
-2A07.

316.
866.
258.
100.
515.
-1306.
-A.
-718.
1718.
-1600.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

227.
A51.
121.
-26.
57.
-213.
-315.
12 A.
581.
- 3A6 .

7.
2A5.
-118.
-158.
-123.
-A01.
-5A7.
-97 .
308.
-6A2.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

220.
206.
239.
132.
18 0 .
188.
232.
221.
273.
296.

A67 .
1A31.
1360.
836.
6A6 .
1010.
A75.
976 .
3107.
95A.

1907.
75A7 .
7A82.
7393.
7292.
15A78.
12A08.
11563.
12 693.
10 720.

161A.
5759.
5A76.
7879.
8A19.
10 760.
9106.
9865.
8863.
6276.

-326.
190.
610.
A29.
857.
1127.
1615.
2225.
1A21.
902.

359.
821.
879.
-1A39.
-137A.
3091.
1388.
-1A2.
1A17 .
3232.

260.
777.
517.
52A.
-610.
500.
299.
-385.
992.
310.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-86.
5AA.
311.
292.
367.
580.
332.
A79.
690.
676.

-368.
222.
1 AA.
-52.
129.
29A.
38.
155.
350.
31A.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

282.
322.
167.
3AA.
238.
286 .
29A.
32A.
3A0.
362.

1323.
2150.
2718.
2716.
2306 .
35A3.
3099.
3225.
2916 .
2A60.

87A0.
21890.
37 135.
76223.
22878.
66028.
78865.
65901.
12A286.
12886A.

7088.
15181.
25 366.
55263.
29868.
5A103.
72AA9.
5A169.
93220.
1011A0.

1651.
2010.
2322.
5095.
9635.
9001.
59 82.
6207.
8361.
12190.

225.
3560.
6803.
8302.
-17859.
A892.
-392.
28 79.
19A50.
10 035.

-22A.
1139.
2 6 AA .
7563.
123A.
-1968.
826.
26A6.
32 55.
5A99.

xxxxxx

807.
1176.
20A8.
2788.
262.
2251.
1280.
737.
3959.
3033.

1.
360.
1113.
1690.
-305.
303.
-279.
279.
1007.
5A8.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
x xx x x
xxxxx
xxxxx

806 .
816.
935.
1098.
56 7 .
19A8 .
1559.
A58.
2952.
2A85.

1555.
A8 2A.
A925.
7888.
7832.
9267.
11751.
17939.
17001.
23262.

8175A.
1372.
-28807.
-23080.
-9A992.

7A000.
2000.
-36000.
-10000.
-96000.

5951.
6223.
280A.
-2321.
-3501.

-567.
-7207.
-605.
-3222.
226.

237 0.
35 6 .
A99A.
-7537.
A283.

1581.
2898.
2919.
-689.
12 67.

-352.
863.
783.
-2030.
537.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

1933.
2035.
2136.
13A1.
730.

15198.
18 607.
1A707.
-1355.
-3317.

LIVESTOCK

XXXXXX

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
XXXXXX

xxxxxx
xxxxxx
xxxxxx
XXXXXX

xxxxxx
xxxxxx
xxxxxx

CURRENCY
AND BANK
DEPOSITS

INVEST­
U. S.
MENTS
SAVINGS
IN
BONDS COOPERA­
TIVES

ANNUAL CHANGES IN ASSETS, LI ABI LI TI ES, AND NET NORTH ARE FROM THE BALANCE SHEET OF THE FARMING SECTOR (TABLES A l l
THESE ANNUAL CHANGES CONSIST OF NET INVESTMENT (TABLE 3 2 1 ) AND NOMINAL CAPITAL GAINS (TABLE 3 3 1 )




DEBT
INCLUDING
CCC
LOANS

REAL
ESTATE

MACHINERY
AND
MOTOR
VEHICLES

TOTAL
ASSETS

AND A 2 1 ) .

TABLE 321
NET INVESTMENT (EXCLUDING FARM HOUSEHOLDS)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
FINANCIAL ASSETS

PHYSICAL ASSETS
YEAR

NET
EQUITY
INVEST­
MENT

TOTAL
ASSETS
TOTAL

REAL
ESTATE

MACHINERY
AND
MOTOR
VEHICLES

LIVE­
STOCK

HOUSEHOLD
STORED EQUIPMENT
CROPS
AND
FURNISHINGS

19 5 0 . . .
1951 . . .
1952...
19 5 3 . . .
19 5 4 . . .
19 5 5 . . .
1956 . . .
1957 . . .
19 58 . . .
1959.. .

1394.
1523.
1283.
801 .
194.
-963.
-1553.
-626 .
18.
-1801.

1861.
2954.
2643.
1637.
840.
47 .
-1078.
350.
3125.
-847.

1634.
2503.
2522.
1663.
783.
260.
-763.
226 .
2544.
-501.

462.
425.
459.
396.
299.
262.
30 4 .
269.
239.
481.

1269.
1118.
545.
684.
16 4 .
132.
-304.
-313.
222.
312.

607 .
1017.
579.
-81.
260.
18.
-345.
-211.
576.
418.

-704.
-57 .
938.
664.
60.
-152.
-418.
481.
1506 .
-1712.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

1960. . .
1961 . . .
1962. . .
1963...
1964...
1965...
1966 . . .
1967 . . .
1968. . .
1969. . .

-557.
-574.
-1040.
-1 1 2 1 .
-2239.
-847 .
-1635.
41 .
-51 .
-1 1 2 1 .

766.
1576.
1678.
1595.
67.
2696 .
1464.
3266 .
2865.
1339.

852.
10 32.
1367 .
1303.
-300.
2116.
1132.
2787 .
2175.
663.

55 4 .
477.
572.
566 .
522.
534.
596.
729.
528.
480.

-324.
-257 .
-14.
237.
378.
672.
873.
1138.
272.
79.

89.
372.
585.
396.
-38.
-175.
221 .
82.
218.
222.

533.
440.
224.
104.
-1162.
10 85.
-558.
838.
1157.
-118.

xxxxxx
xxxxxx

1970. . .
1971 . . .
1972. . .
1973. . .
1974. . .
1975...
1976 . . .
1977 . . .
1978...
1979...

-639.
-1407.
-1726.
-105.
-7096 .
-1781 .
-9180.
-10773.
-7500.
-12130.

916.
3417.
3199.
7783.
736.
7486 .
2571.
7166.
9501 .
11132.

10 9 .
2241.
1151.
4995.
474.
5235.
1291 .
6429.
5542.
8099.

577.
550.
31 8 .
819.
1234 .
15 8 0 .
1678.
17 65 .
23 00.
2382.

326.
-92.
441.
18 1 3 .
12 8 2 .
496 .
84.
1300.
1369.

665.
460.
445.
1818.
454.
-1045.
-688.
-1245.
-1275.
859.

1980...
1981...
1982...
1983...
1984...

-19074.
-7482.
-13050.
-22152.
4175.

-3876.
11 125.
1657.
-23507.
858.

-5457.
8227.
-1262.
-22818.
-409.

1557.
814.
86.
-237.
-300.

-1385.
-3504.
-6211.
-6207.
-6200.

1339.
286 .
-690.
-333.
0.

|
|

200.

TOTAL

CURRENCY
AND BANK
DEPOSITS

INVEST­
U. S.
MENTS
SAVINGS
IN
BONDS COOPERA­
TIVES

DEBT
INCLUDING
CCC
LOANS

227.
451.
121.
-26.
57.
-213.
-315.
124.
581.
-346.

7.
245.
-118.
-158.
-123.
-401.
-547.
-97.
308.
-642.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
x xx x x
xxxxx
x xx x x

220.
206.
239.
13 2 .
180.
188.
232.
221.
273.
296.

467.
1431.
1360.
836.
646 .
1010.
475.
976.
3107.
954.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-86.
544.
311.
292.
367.
580.
332.
479.
690.
676.

-368.
222.
144.
-52.
1 2 9.
294.
38.
155.
350.
314.

xxxxx
x xx x x
xxxxx
x xx x x
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

282.
322.
167.
344.
238.
286.
294.
324.
340.
362.

1323.
2150.
2718.
2716.
2306.
3543.
3099.
3225.
2916.
2460.

-1459.
1323.
-53.
54 5 .
-2496.
4500.
-195.
5825.
3217 .
3489.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

807.
1176.
2048.
2788.
262.
2251.
1280.
737.
3959.
30 33.

1.
360.
1113.
1690.
-305.
303.
-279.
279.
1007.
548.

xxxxx
xxxxx
xxxxx
xxxxx
x xx x x
x xx x x
x xx x x
x xx x x
xxxxx
xxxxx

806.
816.
935.
1098.
567.
1948.
15 59.
458.
2952.
2485.

1555.
4824.
4925.
7888.
7832.
9267.
11751.
17939.
17001.
23262.

-6968.
10 631.
5553.
-16041.
6091.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

1581.
2898.
2919.
-689.
1267.

-352.
863.
783.
-2030.
537.

xxxxx
xxxxx
xxxxx
xxxxx
x xx x x

1933.
2035.
2136 .
1341.
730.

15198.
18607.
14707.
-1355.
-3317.

XXXXXX

xxxxxx
XXXXXX

xxxxxx

XXXXXX

FOR REAL ESTATE AND MACHINERY, NET INVESTMENT IS CAPITAL EXPENDITURES (TABLE 2 4 1 ) LESS CAPITAL CONSUMPTION ALLOWANCES (TABLE 2 3 1 ) .
FOR LIVESTOCK AND STORED CROPS, NET INVESTMENT IS THE VALUE OF NET ADDITIONS TO INVENTORIES (TABLE 2 1 1 ) PLUS THE CHANGE IN CCC LOANS
(TABLE 5 1 1 ) .
FOR MONETARY ASSETS AND LI ABI LI TI ES , NET INVESTMENT IS THE ANNUAL CHANGE (TABLE 3 1 1 ) .




15

16
TABLE 331
NOMINAL CAPITAL GAINS (EXCLUDING FARM HOUSEHOLDS)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
PHYSICAL ASSETS
TOTAL
ASSETS

REAL
ESTATE

MACHINERY
AND
MOTOR
VEHICLES

14 748.
10567.
-4864.
“ 5031.
2814.
3269.
9245.
7744.
12689.
3598.

9868.
7317 .
10 29.
“ 1390.
3134.
4641.
7149.
5459.
8361.
5425.

261.
917.
113.
-122.
20.
382.
968.
411 .
897.
886.

3599.
1410.
-5325.
-2955.
-795.
-600.
714.
3073.
3220.
-2825.

10 55.
6515.
6115.
6090.
7592.
13 362.
11276.
8776.
10518.
10057.

1055.
6515.
6115.
6090.
7592.
13362.
11276.
8776.
10518.
10057.

1060.
5282.
4904.
7313.
7897.
10 226.
8510.
9136 .
8335.
5796.

-2.
447.
624.
19 2 .
479.
455.
742.
1087 .
1149.
823.

270.
449.
294.
-1835.
-1336.
3266.
1167 .
-224.
1199.
3010.

10 395.
21187.
38516.
73597.
42211 .
64555.
83557.
61991.
120204.
121171.

10395.
21187.
38516.
73597.
42211.
64555.
83557.
61991.
120204.
121171.

10395.
21187.
38516.
73597.
42211.
64555.
83557.
61991.
120204.
121172.

8314.
16 227.
27558.
56930.
47133.
56441.
76507.
54 815.
92161.
98758.

1365.
2148.
1881.
3282.
9413.
8615.
5437.
6126.
6961.
10821.

-438.
3100.
6357.
6455.
-18215.
5947.
-632.
4202.
20384.
9898.

87278.
“ 6815.
-27839.
-447.
-94584.

87278.
-6815.
-27839.
-447.
-94584.

87277.
“ 6815.
“ 27840.
“ 447 .
“ 94583.

72443.
1186.
-36086.
-9763.
-95700.

7344.
9727.
9015.
3886.
2699.

-1912.
-7341.
6.
-2834.
226.

YEAR

TOTAL

1950. . .
1951 . . .
1952...
1953...
1954...
1955. . .
1956...
1957...
1958...
1959...

14748.
10567.
-4864.
“ 5031.
2814.
3269.
92 45.
7744.
12 689.
3598.

14748.
10567.
-4864.
-5031.
2814.
3269.
9245.
7744.
12689.
3598.

1960...
1961...
1962...
1963...
1964...
1965.. .
1966 . . .
1967 . . .
1968...
1969...

10 5 5 .
6515.
6115.
6090.
7592.
13 362.
11276.
8776.
10 518.
10057.

1970...
1971...
1972...
1973...
1974...
1975...
1976...
1977...
1978...
1979...
1980...
1981 . . .
1982...
1983. . .
1984.. .

LIVESTOCK

----------------------- r
i
HOUSEHOLD |
STORED EQUIPMENT |
AND TOTAL
| TOTAL
CROPS
FURNISHINGS I
1
1
xxxxxx
j
1020.
0.
xxxxxx
I
923.
0.
xxxxxx
I
0.
-680.
xxxxxx
j
0.
-564.
X
X
X
X
X
X
j
0.
455.
XXXXXX
j
-1154.
0.
xxxxxx
j
414.
0.
xxxxxx
j
-1199.
0.
xxxxxx
j
0.
212.
xxxxxx
j
112.
0.
1
1
XXXXXX
I
-273.
0.
xxxxxx
j
337.
0.
xxxxxx
j
293.
0.
xxxxxx
j
420.
0.
xxxxxx
j
552.
0.
xxxxxx
j
-585.
0.
x
x
x
x
x
x
j
857 .
0.
xxxxxx
j
-1223.
0.
xxxxxx
j
-165.
0.
xxxxxx
j
428.
0.
1
XXXXXX
I
11 54.
0.
xxxxxx
j
-288.
0.
xxxxxx
j
27 20.
0.
xxxxxx
j
6930.
0.
xxxxxx
j
38 80.
0.
xxxxxx
j
-6448.
0.
X
X
X
X
X
X
I
2245.
0.
xxxxxx
j
-3152.
0.
xxxxxx
j
698.
0.
xxxxxx
j
1695.
0.
1
1
XXXXXX
I
9402.
0.
xxxxxx
j
-10387.
0.
xxxxxx
j
-775.
0.
XXXXXX
1
8264.
0.
XXXXXX
1
-1808.
0.

FINANCIAL ASSETS
CURRENCY
AND BANK
DEPOSITS

INVESTU. S.
MENTS
SAVINGS
IN
BONDS COOPERA­
TIVES

DEBT
INCLUDING
CCC
LOANS

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

x xx x x
xxxxx
x xx x x
xxxxx
xxxxx
xxxxx
xxxxx
x xx x x
xxxxx
xxxxx

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

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

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

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

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

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

0.

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

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

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

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

0.
0.
0.
0.
0.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

0.
0.
0.
0.
0.

0.
0.
0.
0.
0.

__________ L
FOR 1 9 5 0 - 1 9 6 9 AND 1 9 8 4 , NOMINAL CAPITAL GAIN IS THE ANNUAL CHANGE (TABLE 3 1 1 ) LESS NET INVESTMENT (TABLE 3 2 1 ) .
FOR 1 9 7 0 - 1 9 8 3 , GAINS SHOWN ARE USDA SERIES SIMILARLY CALCULATED, BUT WHICH IN ADDITION ARE ADJUSTED FOR ESTIMATED NET TRANSFERS OUT
OF THE FARM SECTOR AND FOR THE EFFECT OF THE CHANGE IN DEFINITION OF A FARM THAT WAS IMPLEMENTED IN 1 9 7 4 .




TABLE 341
REAL CAPITAL GAINS, PCE BASIS (EXCLUDING FARM HOUSEHOLDS)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
PHYSICAL ASSETS
YEAR

TOTAL

TOTAL

REAL
ESTATE

MACHINERY
AND
MOTOR
VEHICLES

TOTAL
ASSETS

LIVE­
STOCK

FINANCIAL ASSETS
HOUSEHOLD
STORED EQUIPMENT
AND
CROPS
FURNISHINGS
xxxxxx

TOTAL

CURRENCY
AND BANK
DEPOSITS

INVEST­
U. S.
MENTS
SAVINGS
IN
BONDS COOPERA­
TIVES

DEBT
INCLUDING
CCC
LOANS

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-576.
-385.
-219.
-135.
-33.
-150.
-318.
-300.
-139.
-297.

-956.
-298.
-168.
-100.
-29.
-107.
-220.
-198.
-86.
-157.

xxxxx
xxxxx
xxxxx
x xx x x
xxxxx
x xx x x
xxxxx
xxxxx
xxxxx
xxxxx

-120.
-87.
-52.
-39.
-9.
-93.
-98.
-102.
-98.
-90.

-901.
269.
13 6 .
280.
933.
-793.
569.
-1996.
-560.
-86.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-176.
-86.
-199.
-165.
-137.
-278.
-369.
-377.
-552.
-666.

-105.
-99.
-108.
-92.
-79.
-198.
-193.
-196.
-283.
-391.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
x xx x x
xxxxx

-71.
-37.
-86.
-79.
-69.
-130.
-171.
-181.
-269.
-325.

376.
196 .
958.
921.
373.
786.
1083.
1133.
1805.
2209.

-1995.
2139.
5198.
3999.
-21551.
9379.
-2080.
2939.
17039.
9699.

657.
-695.
2218.
5993.
1579.
-7619.
1122.
-9319.
-1306.
-1002.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-635.
-596.
-632.
-1976.
-2088.
-1259.
-1197.
-1935.
-2077.
-2801.

-329.
-288.
-298.
-706.
-1039.
-596.
-531.
-588.
-899.
-1088.

xxxxx
xxxxx
xxxxx
x xx x x
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
x xx x x

-312.
-308.
-335.
-769.
-1059.
-658.
-666.
-897 .
-1228.
-1713.

2117.
1992.
2098.
9799.
6615.
9375.
9297.
5500.
9167 .
12320.

-7629.
-11969.
-2396.
-9989.
-1292.

5818.
-1£622.
-2351.
6810.
-2808.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-3122.
-2989.
-1696.
-1297.
-1209.

-1153.
-850.
-558.
-933.
-399.

xxxxx
xxxxx
xxxxx
x xx x x
x xx x x

-1969.
-1639.
“ 1088.
-869.
-860.

19668.
12230.
8292.
6539.
6157 .

1950. . .
1951.. .
1952...
1953...
1959 . . .
1955...
1956.. .
1957 . . .
1958.. .
1959...

8586.
6191.
-7382.
-6519.
2995.
15 8 5 .
5908.
3830.
10 895.
17 8 .

7929.
5699.
-7656.
-6703.
2397.
1361.
9893.
33 19.
10606.
-312.

8505.
6079.
-7937.
-6568.
2931.
1511.
5211.
3619.
10739.
-65.

5696.
9305.
-729.
-2959.
2865.
33 90.
9220.
2931.
6937.
2775.

-380.
932.
-188.
-311.
-29.
1 5 9.
958.
-95.
670.
965.

2709.
735.
-5665.
-3123.
-831.
-755.
379.
2707.
3021.
-3209.

536.
607.
-855.
-675.
926.
-1289.
153.
-1930.
111.
-102.

1960. . .
1961 . . .
1962. . .
1963...
1969...
1965...
1966 . . .
19 6 7 . . .
1968. . .
1969. . .

-1971.
5235.
3299.
3662.
5570.
9190.
57 60.
2921.
1887.
-338.

-1897.
5039.
2835.
3291.
5197.
8909.
9678.
17 37.
82.
-2597.

-1671.
5125.
3029.
3907.
5339.
8682.
5091.
2119.
639.
-1881.

-958.
9250.
2612.
5302.
6183.
6627.
3750.
9018.
753.
-3270.

-326.
288.
280.
-101.
236.
-92.
86.
369.
96.
-503.

13.
318.
1.
-2075.
-1517.
2890.
691.
-777.
395.
1978.

1970. . .
1971. . .
1972...
1973...
19 7 9 . . .
1975...
1 9 76 . . .
1977. . .
1978. . .
1979. . .

591.
11999.
28317.
98135.
5999.
91510.
59 910.
32071.
71992.
59199.

-1576.
10 002.
26219.
93386.
-616.
37135.
55662.
26571.
62775.
91879.

-991.
10598.
26851.
99861.
1972.
38 389.
56859.
28006.
69852.
99676.

-262.
8203.
18807.
35 992.
16271.
36076.
55926.
27566.
98090.
38 061.

1 0 8.
95 5 .
628.
932.
5178.
5552.
2392.
2320.
10 8 0 .
2973.

11062.
1980. . .
-66993.
1981 . . .
-63258.
1982...
-25925.
1983...
1989. . . -1 1 6 2 5 0 .

-3606.
-78673.
-71550.
-31960.
-122908.

-986.
-76189.
-69905.
-30663.
-121197.

2893.
-59560.
-69529.
-33913.
-116608.

-1567.
2958.
9321.
930.
-989.

XXXXXX

1

657.
997 .
279.
183.
98.
229.
516.
516.
290.
990.

REAL CAPITAL GAIN IN CURRENT DOLLARS IS NOMINAL CAPITAL GAIN (TABLE 3 3 1 ) PLUS THE GAIN OR LOSS RESULTING FROM A CHANGE IN THE
PURCHASING POWER OF THE TOTAL FUNDS INVESTED OR OWED.
THE LATTER GAIN OR LOSS I S THE JANUARY 1 CURRENT-DOLLAR AMOUNT OF EACH ASSET
OR LIABILITY (TABLES 411 AND 4 2 1 ) MULTIPLIED BY THE ANNUAL ( JANUARY-TO-JANUARY) PERCENTAGE CHANGE IN THE IMPLICIT PRICE DEFLATOR FOR
PERSONAL CONSUMPTION EXPENDITURES (AND FOR ASSETS, ALSO MULTIPLIED BY - 1 ) .
THE RESULT IS THEN CONVERTED FROM YEAR-END TO ANNUALAVERAGE DOLLARS.
FOR YEARS BEFORE 1 9 7 0 , CAPITAL GAINS ARE NOT ADJUSTED FOR INTER-SECTOR TRANSFERS (SEE NOTE TO TABLE 3 3 1 ) .




17

18
TABLE 411
BALANCE SHEET OF THE FARMING SECTOR, JANUARY 1 (EXCLUDING FARM HOUSEHOLDS)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
ASSETS

CLAIMS
NON-REAL-ESTATE

YEAR
TOTAL

LIABILITIES

REAL
ESTATE

TOTAL
TOTAL

PHYSICAL

FINANCIAL

TOTAL

CCC LOANS

DEBT
EXCLUDING
CCC LOANS

PROPRIETORS*
EQUITIES

1 9 5 0 ..........
1 9 5 1 ..........
1 9 5 2 ..........
1 9 5 3 ..........
1 9 5 4 ..........
1 9 5 5 ..........
1 9 5 6 ..........
1957 ..........
1 9 5 8 ..........
1 9 5 9 ..........

106647.
123256.
136777.
134556.
131162.
134816.
13 8132.
146299.
154393.
170207.

65547.
75877.
83619.
85107.
84113.
87546.
92449.
99902.
105630.
114230.

41 100.
47 379.
53158.
49449.
47049.
47270.
45683.
46397.
48 76 3
55977.

31263.
37315.
42643.
38813.
36439.
36603.
35229.
36258.
38500.
45133.

9837.
10 064.
10515.
10 636.
10 610.
10 667.
10 454.
10 139.
10 263.
10 844.

106647.
123256.
136777.
134556.
131162.
134816.
138132.
146299.
154393.
170207.

11 210.
11677.
13108.
14468.
15 304.
15950.
16960.
17435.
18411.
21518.

1721.
812.
588.
1184.
2390.
2219.
1870.
1563.
1215.
2473.

9498.
10877.
12532.
13284.
12920.
13742.
15104.
15 883.
17211.
19054.

95437.
111579.
123669.
120088.
115858.
118866.
121172.
128864.
135982.
148689.

1 9 6 0 ..........
1 9 6 1 ..........
1 9 6 2 ..........
1 9 6 3 ..........
1 9 6 4 ..........
1 9 6 5 ..........
1966 ..........
1967 ..........
1 9 6 8 ..........
1 9 6 9 ..........

172958.
174779.
182870.
190663.
198348.
206007.
222065.
234805.
246847.
260230.

120136.
121750.
127509.
132985.
140864.
149283.
160043.
169149.
179014.
187877.

52822.
53029.
55361.
57678.
57484.
56724.
62022.
65 656.
67 833.
72353.

42324.
42617.
44405.
46411.
45925.
44798.
49516.
52818.
54516.
58346.

10 498.
10412.
10956.
11 267.
11 559.
11 926.
12506.
12 838.
13 317.
14 007.

172958.
174779.
182870.
190663.
198348.
206007.
222065.
234805.
246847.
260230.

22472.
23795.
25945.
28663.
31379.
33685.
37228.
40327.
43552.
46468.

1165.
1390.
1866.
2055.
1926.
1543.
1411.
1157.
1420.
2671.

21320.
22419.
24089.
26615.
29459.
32 149.
35 820.
39175.
42144.
43812.

150486.
150984.
156925.
162000.
166969.
172322.
184837.
194478.
203295.
213762.

1 9 7 0 ..........
1 9 7 1 ..........
1 9 7 2 ..........
1 9 7 3 ..........
1 9 7 4 ..........
1 9 7 5 ..........
1976 ..........
1977 ..........
1 9 7 8 ..........
1 9 7 9 ..........

271626.
281173.
304239.
343422.
422433.
445573.
513852.
593997.
660635.
788880.

194153.
201241.
216422.
241788.
297051.
326919.
381022.
453471.
507640.
600860.

77473.
79 932.
87817.
1016 34 .
12 5382,
11 8654,
132830,
140526,
1529 95
188020,

62790.
64442.
71151.
82920.
10 3880.
96890.
108815.
11 5231.
126963.
158029.

14683.
15490.
16 666.
18714.
21502.
21764.
24015.
25295.
26032.
29991.

271626.
281173.
304239.
343422.
422433.
445573.
513852.
593997.
660635.
788880.

48928.
50483.
55307.
60232.
68120.
75952.
85219.
96970.
114909.
131909.

2676.
1876.
2262.
1793.
750.
319.
375.
1040.
4540.
5666.

46256.
48611.
53051.
58440.
67384.
75648.
84851.
95930.
110381.
12 6245.

222698.
230690.
248932.
283190.
354313.
369621.
428633.
497027.
545727.
656971.

1 9 8 0 ..........
1 9 8 1 ..........
1 9 8 2 ..........
1 9 8 3 ..........
1 9 8 4 ..........
1 9 8 5 ..........

920776.
1004112.
10 08382.
982495.
958726.
865000.

702000.
776000.
778000.
742000.
732000.
636000.

218777
22 8 1 1 2
23 0 3 8 2
24 04 94
22 6 7 2 5
2290 00

18 5753.
193507.
192879.
200072.
186992.
188000.

33024.
34605.
37503.
40422.
39733.
41000.

920776.
1004112.
1008382.
982495.
958726.
1 865000.

155171.
170369.
188975.
203683.
202328.
199011.

5070.
4978.
8011.
15433.
10801.
8892.

150115.
16 5393.
180975.
188259.
191528.
190131.

765605.
833743.
819407.
778812.
756398.
665989.




TABLE 421
ASSETS OF THE FARMING SECTOR, JANUARY 1 (EXCLUDING FARM HOUSEHOLDS)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
PHYSICAL
YEAR

TOTAL
TOTAL

REAL
ESTATE

MACHINERY
AND
LIVESTOCK
MOTOR
VEHICLES

FINANCIAL
HOUSEHOLD
STORED EQUIPMENT
AND
CROPS
FURNISHINGS

DANK DEPOSITS
TOTAL

CURRENCY
DEMAND

TIME

INVESTMENTS
u.s.
SAVINGS
IN
BONDS COOPERATIVES

1950...
1951...
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...

106647.
123256.
136777.
13 4556.
13 1162.
134816.
138132.
146299.
154393.
170207.

96810.
113192.
12 6262.
123920.
12 0552.
12 4149.
12 7678.
13 6160.
14 4130.
159363.

65547.
75877.
83619.
85107.
84113.
87546.
92449.
99902.
105630.
114230.

10778.
12308.
14 343.
15 001.
15 563.
15747.
16 261.
16925.
17 023.
18 142.

12 894.
17100.
19527.
14781.
11 745.
11 210.
10628.
10 997.
13 859.
17655.

7591.
7907.
8773.
9031.
9131.
9646 .
8340.
8336.
7618.
93 36.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

9837 .
10064.
10515.
10636.
10610.
10667.
10454.
10139.
10263.
10844.

2510.
2362.
2452.
2334.
2258.
2235.
2234.
2016.
2045.
2010.

5272.
5427.
5582.
5582.
55 00.
5400.
5000.
4671.
4545.
4888.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
x xx x x
xxxxx
xxxxx
xxxxx

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

2055.
2275.
2481.
2720.
2852.
3032.
3220.
3452.
3673.
3946.

1960...
1961...
1962...
1963...
1964...
1965...
1966...
1967...
1968...
1969...

172958.
174779.
182870.
190663.
198348.
206007.
222065.
234805.
246847.
260230.

162460.
164367.
171914.
179396.
186789.
194081.
209559.
221967.
233530.
246223.

120136.
121750.
127509.
132985.
14 0864.
149283.
160043.
169149.
179014.
187877.

19340.
19 014.
19204.
19 814.
20243.
21100.
22227.
23842.
26067.
27488.

15248.
15 607.
16428.
17 307.
15868.
14494.
17585.
18 973.
18 831.
20248.

7736.
7996.
8773.
9290.
9814.
9204.
9704.
10 003.
9618.
10610.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

10498.
10412.
10956.
11 267.
11 559.
11 926.
12 506.
12838.
13317.
14007.

1903.
1803.
1813.
1905.
1805.
1842.
1880.
1880.
1925.
1981.

4353.
4085.
4297.
4349.
4397.
4489.
4745.
4783.
4893.
5187.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

4242.
4524.
4846.
5013.
5357.
5595.
5881.
6175.
6499.
6839.

1970...
1971...
1972...
1973...
1974. . .
1975...
1976. . .
1977. . .
1978. . .
1979. . .

271626.
281173.
304239.
343422.
422433.
445573.
513852.
593997.
660635.
788880.

256943.
265683.
287573.
324708.
400931.
423809.
489837.
568702.
634603.
758889.

194153.
201241.
216422.
241788.
297051.
326919.
381022.
453471.
507640.
600860.

28390.
30041.
32051.
34373.
39 468.
49103.
58104.
64086.
70293.
78654.

23480.
23705.
27265.
34 068.
42370.
24511.
29403.
29011.
31 890.
51340.

10 920.
10696.
11835.
14 479.
22042.
23276.
21308.
22134.
24780.
28035.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

14683.
15490.
16666.
18714.
21502.
21764.
24015.
25295.
26032.
29991.

2010.
2044.
2094.
2184.
2174.
2030.
1984.
1913.
1862.
1850.

5472.
5439.
5749.
6772.
8472.
8311.
8660.
8452.
8782.
9801.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

7201.
8007.
8823.
9758.
10856.
11423.
13371.
14930.
15388.
18340.

920776.
1980. . .
1981. . . 1004112.
1 9 8 2 . . . 1008382.
982495.
1983. . .
958726.
1984. . .
865000.
1985...

887753.
969507.
970879.
942072.
918992.
824000.

702000.
776000.
778000.
742000.
732000.
636000.

90844.
96795.
103018.
105822.
103501.
10 0000.

61375.
60808.
53601.
52996.
49774.
50 000.

33534.
35904.
36260.
41254.
33717.
38000.

xxxxx
xxxxx
xx*xx
xxxxx
xxxxx
xxxxx

18 88.
19 07.
19 45.
1974.
2013.
2000.

10 311.
9940.
10765.
11 519.
9450.
10 000.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

20825.
22758.
24793.
26929.
28270.
29000.




1
I
I
I
1
I
j
1 33024.
1 34605.
1 37503.
1 40422.
1 39733.
1 41000.
1__________

19

20

OUTSTANDING FARM DEBT, JANUARY 1 (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS
DEBT EXCLUDING CCC LOANS

DEBT INCLUDING
CCC LOANS

ccc

TOTAL

LOANS

1950
1951
1952
1953
1954
1955
1956
1957
1958
1959

11210.
11 677.
13108.
14 468.
15 304.
15 950.
16960.
17 435.
18411.
21518.

1721.
812.
588.
1184.
2390.
2219.
1870.
1563.
1215.
2473.

1960
1961
1962
1963
1964
1965
1966
1967
1968
1969

22472.
23795.
25945.
28663.
31379.
33685.
37228.
40327.
43552.
46468.

1970
1971
1972
1973
1974
1975
1976
1977
1978
1979
1980
1981
1982
1983
1984
1985




TOTAL

i

BANKS

COOPERATIVE
LIFE
FARM
INSURANCE
CREDIT
COMPANIES
SYSTEM

FARMERS
HOME
ADMINIS­
TRATION

INDIVIDUALS
AND
OTHERS

9489.
10 866.
12 521.
13 284.
12 913.
13730.
15 090.
15 872.
17 195.
19 045.

2724.
3221.
3813.
3929.
3542.
37 66.
4222.
4221.
4549.
5160.

1238.
1336.
1489.
1590.
1597.
1708.
1954.
2219.
2563.
2955.

990.
1147.
1309.
1460.
1615.
1757.
1954.
2140.
2239.
2320.

476.
508.
515.
578.
631.
690.
712.
779.
853.
887.

4061.
4654.
5395.
5727.
5528.
5809.
6248.
6513.
6991.
7723.

1165.
1390.
1866.
2055.
1926.
1543.
1411.
1157.
1420.
2671.

21312.
22405.
24080.
26608.
29453.
32144.
35816.
39169.
42132.
43796.

5888.
6116.
6471.
7306.
8184.
8761.
9582.
10 541.
11 512.
12 187.

3443.
3741.
4146.
4551.
5012.
5594.
6400.
7449.
8534.
9315.

2470.
2615.
2789.
3002.
3358.
3822.
4295.
4666.
4959.
5167.

942.
1005.
1273.
1425.
1563.
1712.
1974.
2133.
2347.
2568.

8569.
8928.
9401.
10324.
11 336.
12255.
13565.
14380.
14 780.
14559.

48928.
50483.
55307.
60232.
68120.
75952.
85219.
96970.
114909.
131909.

2676.
1876.
2262.
1793.
750.
319.
375.
1040.
4540.
5666.

46252.
48606.
53044.
58438.
67369.
84844.
95930.
11 0369.
12 6243.

75633.

12 878.
13 820.
15 542.
17 774.
21067.
22 547.
24672.
28077 .
31 289.
34435.

10510.
11723.
13 166.
14 759.
17696.
21708.
25225.
29015.
32998.
37554.

5222.
5122.
5090.
51 74.
5480.
5799.
6198.
6828.
8150.
9698.

2720.
2880.
3021.
3233.
3484.
3818.
4603.
4963.
6377.
8833.

14922.
15061.
16 225.
17498.
19642.
21761.
24146.
27047.
31555.
35723.

155171.
170369.
188975.
203683.
202328.
199011.

5070.
4978.
8011.
15433.
10801.
8892.

150101.
165391.
18 0964.
18 8250.
191527.
19 0119.

37125.
37913.
38911.
.42014.
45580.
47015.

45389.
52953.
61539.
64402.
64300.
63299.

11278.
11 991.
12136.
11 898.
11 833.
11 575.

14 371.
17366.
20683.
21270.
21401.
22885.

41938.
45168.
47695.
48666.
48413.
45345.

TABLE 521
OUTSTANDING FARM REAL ESTATE DEBT, JANUARY 1 (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS

YEAR

TOTAL

|

BANKS

i
i
i

!
1
1

COOPERATIVE FARM CREDIT SYSTEM
TOTAL

FEDERAL
LAND
BANKS

FEDERAL
FARM
MORTGAGE
CORPORATION

1 9 5 0 ..........
1 9 5 1 ..........
1 9 5 2 ..........
1 9 5 3 ____ _
1 9 5 4 ..........
1 9 5 5 ..........
19 56 .....
1957 ..........
1 9 5 8 ..........
1 9 5 9 ..........

4714.
5184.
5657 .
6161 .
6602.
7058.
7750.
8486 .
9012.
9671.

788.
836 .
86 4.
910.
931 .
994.
10 9 6 ,
1121 .
11 4 2 .
1228.

815.
841.
872.
932.
10 1 3 .
10 9 6 .
12 7 3 .
1488.
16 4 6 .
18 0 1 .

765.
804.
844.
91 2 .
99 8 .
10 8 5 .
12 73 .
1488 .
1646 .
1801 .

50 .
37 .
28.
20.
15.
11.
xxxxxx

1 9 6 0 ..........
1961 . . . . .
19 62 .....
1 9 6 3 ..........
1 9 6 4 ..........
1 9 6 5 ____ _
1966 . . . . .
1967 ____ _
1 9 6 8 ..........
19 69. . . . .

10584.
11269.
12259.
13424.
14 922.
16 835.
18921.
20 645.
22 540.
24605.

1334.
1399.
1448.
16 55 .
18 9 8 .
2155.
2327 .
2477 .
2750.
3002.

2046 .
2232.
2472.
2676 .
2914.
32 8 3 .
37 8 4 .
4397 .
4981.
5462.

1 9 7 0 ..........
1 9 7 1 ..........
1 9 7 2 ..........
1 9 7 3 ..........
1 9 7 4 ..........
1 9 7 5 ..........
1976 ..........
1977 ..........
1978.....
1 9 7 9 ..........

26246.
27 360.
29065.
31 739.
35 800.
40557.
45162.
50360.
57958.
65551.

3116 .
3329.
3731 .
42 46.
4844.
5312.
5621 .
6075.
6994.
7717.

1 9 8 0 ..........
1 9 8 1 ..........
1 9 8 2 ..........
1 9 8 3 ..........
1 9 8 4 ..........
1 9 8 5 ..........

78538.
87940.
97274.
101258.
103609.
102675.

7798.
7924.
7610.
7673.
8480.
9260.




JOINTSTOCK
LAND
BANKS

1
LIFE
1 INSURANCE
1 COMPANIES

FARMERS
HOME
ADMINIS­
TRATION

INDIVIDUALS
AND
OTHERS

xxxxxx

0.
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

9 9 0.
11 4 7 .
1309.
1460.
16 15 .
17 5 7 .
19 5 4 .
2140.
2239.
2320.

171.
218.
247.
281.
300.
323.
3 5 5.
40 0 .
470.
530.

19 5 0 .
2142.
2365.
2578.
2743.
2888.
3072.
3337.
3515.
3792.

2046 .
2232.
2472.
2676.
2914.
32 8 3 .
3784.
4397 .
4981 .
5462.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

2470.
2615.
2789.
3002.
3358.
3822.
42 95.
4666 .
4959.
5167.

592.
636.
836.
936.
10 4 0 .
1145.
1343.
1486.
16 4 5 .
1845.

4142.
4387 .
4714.
5155.
5712.
6431.
7171.
7618.
8205.
9128.

5977 .
6420.
7094.
8165.
9849.
12184.
14 535.
16888.
19645.
22 677.

5977 .
6420.
7094.
8165.
9849.
12 1 8 4 .
14535.
16888.
19645.
22677.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

5222.
5122.
5090.
5174.
5480.
5799.
6198.
6828.
8150.
9698.

2029.
2180.
23 43.
25 47.
27 12.
2899.
3044.
33 11.
3613.
3747.

9902.
10308.
10 8 0 6 .
11607.
12914.
14363.
15 764.
17258.
19556.
21712.

27335.
33 203.
40272.
43 878.
44936.
45 220.

27335.
33 203.
40 272.
43878.
44936.
45220.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

11 278.
11 991.
12 136.
11 898.
11833.
11 575.

6467.
7021.
7965.
8282.
8513.
9110.

25660.
27801.
29291.
29527.
29847.
27510.

XXXXXX
XXXXXX

21

22

OUTSTANDING FARM NON-REAL-ESTATE DEBT, JANUARY 1 (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS
DEBT EXCLUDING CCC LOANS

DEBT INCLUDING
CCC LOANS

COOPERATIVE FARM CREDIT SYSTEM
TOTAL

CCC
LOANS

TOTAL

BANKS
TOTAL

PRODUCTION
FEDERAL
CREDIT
INTERMEDIASSOCIAATE CREDIT
TIONS
BANKS

FARMERS
HOME
ADMINIS­
TRATION

INDIVIDUALS
AND
OTHERS

1950
1951
1952
1953
1954
1955
1956
1957
1958
1959

6496.
6493.
7451.
8306.
8702.
8892.
9210.
8949.
9399.
11847.

17 21.
812.
588.
11 84.
2390.
2219.
18 70.
1563.
1215.
2473.

4775.
5682.
6864.
7123.
6311.
6672.
7340.
7386.
8183.
9374.

1936.
2385.
2949.
3019.
2611.
2772.
3126 .
3100.
3407.
3932.

423.
495.
617.
658.
584.
612.
681.
731.
917.
11 5 4 .

372.
433.
539.
575.
520.
554.
619.
671.
850.
1070.

51.
62.
78.
83.
64.
58.
62.
60.
67.
84.

305.
290.
268.
297.
331.
367.
357.
379.
383.
357.

2111.
2512.
3030.
3149.
2785.
2921.
3176 .
3176.
3476.
3931.

1960
1961
1962
1963
1964
1965
1966
1967
1968
1969

11888.
12 526.
13 686.
15239.
16 457.
16850.
18 306.
19 683.
21012.
21863.

1165.
1390.
1866 .
2055.
1926.
1543.
1411.
1157 .
1420.
2671.

10728.
11 136.
11821.
13184.
14531.
15 308.
16896.
18 525.
19592.
19192.

4554.
4717.
5023.
5651.
6286.
6606.
7255.
8064.
8762.
9185.

13 9 7 .
1509.
16 7 4 .
1875.
2098.
2311.
2616.
3052.
3553.
3853.

1307.
1421.
1575.
1765.
1972.
21 86.
2476.
2895.
3377.
3673.

90.
88.
99.
11 0 .
12 6 .
125.
14 0 .
1 5 7.
176.
180.

350.
369.
437.
489.
523.
567.
631.
647.
702.
723.

4427.
4541.
4687 .
5169.
56 24.
58 24.
6394.
6762.
6575.
5431.

1970
1971
1972
1973
1974
1975
1976
1977
1978
1979

22681.
23123.
26242.
28492.
32320.
35395.
40057.
46610.
56950.
66358.

2676.
1876.
2262.
1793.
750.
319.
375.
1040.
4540.
5666.

20006 .
21247.
23980.
26 699.
31570.
35 076.
39682.
45570.
52410.
60692.

9762.
10 491.
11811.
13528.
16223.
17235.
19051.
22002.
24295.
26718.

4533.
53 03.
6072.
6594.
7847.
95 24.
10690.
12127.
13352.
14877.

43 15.
5083.
5835.
6343.
7516 .
9150.
10340.
11 759.
12978.
14 368.

218.
220.
237.
251.
331.
374.
350.
368.
374.
509.

691.
700.
678.
686 .
772.
919.
1559.
1652.
2764.
5086.

5020.
47 53.
5419.
58 91.
6728.
7398.
8382.
9789.
11999.
14011.

1980
1981
1982
1983
1984
1985

76632.
82428.
91702.
102425.
98719.
96336.

5070.
4978.
8011.
15433.
10 801.
8892.

71562.
77450.
83691.
86992.
87918.
87444.

29327.
29989.
31301.
34341.
37100.
37 755.

18053.
19749.
21 268.
20 524.
19364.
18079.

17 388.
18 939.
20355.
19653.
18514.
17 180.

665.
810.
913.
871.
850.
899.

7904.
10 345.
12718.
12 988.
12 888.
13775.

16278.
17367.
18404.
19139.
18566.
17835.




DEBT OUTSTANDING

Total debt
541
542

Annual, USDA series including farm households
Quarterly, reports from lending institutions

Real estate and non-real-estate debt
551
552

Annual, USDA series including farm households
Quarterly, reports from lending institutions

Major institutional farm lenders provide monthly or quarterly reports on their outstanding amount of farm loans.
The USDA compiles annual data for these lenders and also estimates the amount of debt held by nonreporting
lenders. In addition to including debt owed to "individuals and others,” these annual series differ from the
quarterly reports by including loans at uninsured and mutual savings banks and excluding loans in Puerto Rico
held by life insurance companies and the Farm Credit System. Also, annual and quarterly reports supplied by
FmHA differ for reasons presently not fully known.
Annual data are from sources listed on page 2. Data for PCAs and Federal Land Banks for 1974 to 1984 have been
adjusted to include estimated nonaccrual loans inadvertently excluded from their reports (see note below).
Quarterly data are from:
Quarterly reports of condition, all insured commercial banks;
"Production Credit Associations— Selected Monthly Loan Data, Agricultural Loans,” and "Federal Land Banks—
Selected Monthly Agricultural Loan Data,” Management Information Division, Farm Credit Administration
(these reports have been discontinued; historical data for December 1974 through December 1984 have been
adjusted to include estimated nonaccrual loans inadvertently excluded from these reports);
"Gross Flow of Mortgage Loans in the United States,” American Council of Life Insurance;
Finance Office, Farmers Home Administration, U.S. Department of Agriculture; and
Economic Research Service, U.S. Department of Agriculture (CCC loans).
Data for 1985-Q1 are based on final or near-final reports from lending institutions, except that the amount shown
for the CCC has been estimated. Data for 1985-Q2 shown for banks and the Farm Credit System are estimated on the
basis of reports available from over half of these institutions as of August 9, 1985.




23

24
TABLE 541
FARM DEBT OUTSTANDING (USDA ANNUAL SERIES INCLUDING FARM HOUSEHOLDS)
TOTAL DEBT

REPORTING LENDING INSTITUTIONS

INDIVIDUALS AND OTHERS

YEAR
TOTAL

541.1
1 9 7 6 .............
1 9 7 7 .............
1 9 7 8 .............
1 9 7 9 .............
1 9 8 0 .............
1 9 8 1 .............
1 9 8 2 .............
1 9 8 3 .............
1 9 8 4 .............

104082?
122990.
141092.
166087.
182320.
202126.
217261.
216089.
212898.
541.2

1 9 7 6 .............
1 9 7 7 .............
1 9 7 8 .............
1 9 7 9 .............
1 9 8 0 .............
1 9 8 1 .............
1 9 8 2 .............
1 9 8 3 .............
1 9 8 4 .............

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
541.3

1976 .............
1977 .......... ..
1978 . . . . . .
1 9 7 9 .............
1 9 8 0 .............
1 9 8 1 ............. !
1 9 8 2 .............
1 9 8 3 .............
1 9 8 4 .............

12416.
18908.
18102.
24995.
16233.
19806.
15 135.
-1172.
-3191.
541.4

1 9 7 6 .............
1 9 7 7 .............
1 9 7 8 .............
1 9 7 9 .............
1 9 8 0 .............
1 9 8 1 .............
1 9 8 2 .............
1 9 8 3 .............
1 9 8 4 .............




13.5
18.2
14.7
17.7
9.8
10.9
7.5
-.5
-1.5

REAL
ESTATE
AMOUNT,

NON-REALESTATE
END OF YEAR,

55276.
63463.
71600.
85614.
95760.
105819.
110048.
112506.
111614.

48806.
59527.
69492.
80474.
86561.
96307.
107214.
103583.
101284.

PERCENTAGE OF TOTAL,
53.1
51.6
50.7
51.5
52.5
52.4
50.7
52.1
52.4

46.9
48.4
49.3
48.5
47.5
47.6
49.3
47.9
47.6

CHANGE DURING YEAR,
5591.
8187.
8137 .
14014.
10146.
10060.
4228.
2458.
-892.

6825.
10721.
9965.
10 982.
6087.
9746.
10 907.
-3631.
-2299.

TOTAL

REAL
ESTATE

NON-REALESTATE

TOTAL

18864.
21335.
23638.
27880.
30180.
31770.
32000.
32320.
29900.

9989.
12244.
14297.
16610.
17 721.
18 780.
19530.
18945.
18200.

75229.
89411.
103157.
12 1597.
134419.
151576.
165731.
164824.
164798.

18.1
17.3
16.8
16.8
16.6
15.7
14.7
15.0
14.0

9.6
10.0
10.1
10.0
9.7
9.3
9.0
8.8
8.5

ALL
COOPERATIVE
LIFE
OPERATING
FARM
INSURANCE
BANKS
CREDIT
COMPANIES
SYSTEM

FARMERS COMMODITY
CREDIT
HOME
ADMINIS­
CORPOR­
TRATION
ATION

MILLIONS OF DOLLARS
28853.
33579.
37935.
44490.
47901.
50550.
51530.
51265.
48100.

7400.
8819.
10478.
12165.
12928.
13074.
12802.
12717.
12444.

5534.
7123.
9901.
16093.
19471.
23196.
23844.
23975.
25664.

30064.
33489.
36830.
39657.
40312.
41335.
44590.
48373.
49919.

31191.
35440.
40282.
48612.
56730.
65960.
69062.
68958.
67879.

28.9
27.2
26.1
23.9
22.1
20.5
20.5
22.4
23.4

30.0
28.8
28.6
29.3
31.1
32.6
31.8
31.9
31.9

7.1
7.2
7.4
7.3
7.1
6.5
5.9
5.9
5.8

5.3
5.8
7.0
9.7
10.7
11.5
11.0
11.1
12.1

1040.
4540.
5666.
5070.
4978.
8011.
15433.
10801.
8892.

END OF YEAR
27.7
27.3
26.9
26.8
26.3
25.0
23.7
23.7
22.6

72.3
72.7
73.1
73.2
73.7
75.0
76.3
76.3
77.4

1.0
3.7
4.0
3.1
2.7
4.0
7.1
5.0
4.2

MILLIONS OF DOLLARS
3038.
4726.
4356 .
6555.
3411.
2649.
980.
-265.
-3165.

16 02.
2471.
2303.
4242.
2300.
1590.
230.
320.
-2420.

1436.
2255.
2053.
2313.
1111.
1059.
750.
-585.
-745.

9378.
14 182.
13 746.
18 440.
12 822.
17157.
14 155.
-907.
-26.

3608.
3425.
3341.
2827.
655.
1023.
3255.
3783.
1546.

4038.
4249.
4842.
8330.
8118.
9230.
3102.
-104.
-1079.

674.
1419.
1659.
1687.
763.
146.
-272.
-85.
-273.

39 3 .
15 8 9 .
2778.
6192.
3378.
3725.
648.
131.
1689.

665.
3500.
1126.
-596.
-92.
3033.
7422.
-4632.
-1909.

9.3
13.1
10.8
17.9
8.2
5.3
.7
1.0
-7.5

16.8
22.6
16.8
16.2
6.7
6.0
4.0
-3.0
-3.9

14.2
18.9
15.4
17.9
10.5
12.8
9.3
-.5
-.0

13.6
11.4
10.0
7.7
1.7
2.5
7.9
8.5
3.2

14.9
13.6
13.7
20.7
16.7
16.3
4.7
-.2
-1.6

10.0
19.2
18.8
16.1
6.3
1.1
-2.1
-.7
-2.1

7.6
28.7
39.0
62.5
21.0
19.1
2.8
.5
7.0

177.3
336.5
24.8
-10.5
-1.8
60.9
92.6
-30.0
-17.7

PERCENTAGE CHANGE DURING YEAR
11.3
14.8
12.8
19.6
11.9
10.5
4.0
2.2
-.8

16.3
22.0
16.7
15.8
7.6
11.3
11.3
-3.4
-2.2

11.8
16.4
13.0
17.3
7.7
5.5
1.9
-.5
-6.2

TABLE 542
FARM DEBT OUTSTANDING
TOTAL DEBT

REPORTING LENDING INSTITUTIONS

INDIVIDUALS AND OTHERS

QUARTER
TOTAL

542.1

REAL
ESTATE
AMOUNT,

NON-REALESTATE

TOTAL

END OF QUARTER,

REAL
ESTATE

NON-REALESTATE

TOTAL

INSURED COOPERATIVE: LIFE
INSURANCE
COMMERCIAL
FARM
COMPANIES
CREDIT
BANKS
SYSTEM

FARMERS COMMODITY
CREDIT
HOME
C0RP0RADMINIS­
TRATION ___ ATION____

MILLIONS OF DOLLARS

1
1981-Q1.
-Q2.
-Q3.
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
202960.
106085.
96874.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
50550.
31770.
18780.

140575.
14 6537.
149816.
152410.

39802.
41605.
41965.
41144.

59898.
63804.
65877.
66102.

13028.
13002.
13106.
13059.

22101.
24309.
24662.
24094.

5746.
3817.
4206.
8011.

1982-Q1.
-Q2.
-Q3.
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
218310.
110333.
107977.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
51530.
32000.
19 530.

157077.
162200.
164831.
166780.

41608.
44205.
45534.
44493.

67258.
69892.
70647.
69198.

12 974.
12967.
12906.
12802.

24132.
25256.
25340.
24855.

11105.
9880.
10405.
15433.

1983-Q1.
-Q2.
-Q3.
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
217381.
113023.
104358.

XXXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXXX

18945.

! 170234.
! 171817.
! 168819.
166116.

44899.
47454.
48168.
48345.

68888.
70111.
70234.
69094.

12634.
12 646.
12 731.
12 721.

24730.
25550.
25479.
25155.

19084.
16 055.
12207.
10801.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
213996.
111959.
102037.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
48100.
29900.
18 200.

164163.
167008.
168015.
16 5896.

48811.
51315.
51766.
49892.

68684.
69822.
70176.
68010.

12549.
12560.
12 621.
12 444.

25314.
26785.
26978.
26658.

8806.
6525.
6474.
8892.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

164526.
xxxxxxx

48600.
50955.

66481.
65756.

12123.
xxxxxxx

27123.
xxxxxxx

10 200.
xxxxxxx

1984-Q1.
“ Q2.
-Q3.
-Q4.

.

.

1985-Q1.
-Q2.

542.2

PERCENTAGE OF TOTAL,

XXXXXXXXXXXXXXXXXXXXXXXXXXX

51265.

32320.

END OF QUARTER

1981Q1.
-Q2.
-Q3.
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
100.0
52.3
47.7

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
24.9
15.7
9.3

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
75.1
20.3
32.6
6.4
11.9
3.9

1982Q1.
- Q2.
- Q3.
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
100.0
50.5
49.5

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
23.6
14.7
8.9

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxx*xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
76.4
20.4
31.7
5.9
11.4
7.1

1983Q1.
-Q2.
-Q3.
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
100.0
52.0
48.0

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
23.6
14.9
8.7

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
76.4
22.2
31.8
5.9
11.6
5.0

1984Q1.
-Q2.
-Q3.
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
100.0
52.3
47.7

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
22.5
14.0
8.5

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
77.5
23.3
31.8
5.8
12.5
4.2

1985Q1.. I
-Q2.

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx




XXXXXXXXXXXXXXXXXXXXXXXXX

25

26
TABLE 542 (CONTINUED)
FARM DEBT OUTSTANDING
TOTAL DEBT

REPORTING LENDING INSTITUTIONS

INDIVIDUALS AND OTHERS

QUARTER
TOTAL

542.3

REAL
ESTATE

NON-REALESTATE

TOTAL

CHANGE FROM PREVIOUS YEAR,

REAL
ESTATE

NON-REALESTATE

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
XXXXXXXXXXXXXXXXXXXXXXXXXXX

19 82-Q I...
- Q 2 . ..
-Q3. . .
-Q4. . .

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

1983-Q1...
-Q2. . .
- Q 3 . ..
“ Q4. . .

xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
“ 929.
2690.
“ 3619.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
“ 265.
320.
“ 585.

1984-Q1...
~Q2. . .
- Q 3 ...
-Q4. . .

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

1985-Q1. . .
~Q2. . .

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

15351.

-3385.

542.4

9633.

4248.

“ 1064.

803.
2114.
1881.
1057.

8317.
8859.
10 002.
9258.

613.
277.
306.
1 3 1.

4364.
4848.
4653.
4004.

160.
-1322.
103.
3033.

16 502.
15663.
15016.
14 371.

1806.
2600.
3569.
3349.

7359.
6088.
4770.
3096.

-53.
-35.
-200.
-257.

2031.
947.
678.
761.

5359.
6063.
6199.
7422.

13157.
9617.
3987.
-664.

3291.
3249.
2634.
3852.

1630.
219.
-413.
-104.

-341.
-321.
-175.
-81.

598.
294.
139.
300.

7979.
6175.
1802.
-4632.

“ 745.

-6071.
-4809.
-803.
-220.

3912.
3861.
3598.
1547.

-204.
-289.
-58.
-1084.

-85.
-86.
-109.
-277.

584.
1235.
1499.
15 0 3 .

-10278.
-9530.
-5733.
-1909.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

363.

-211.
-360.

-2203.
-4066.

-426.

1809.

1394.

xxxxxxx

xxxxxxx

xxxxxxx

xxxxxxx

2649.

15 90.

1059.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

11103.

980.

“ 2321.

FARMERS COMMODITY
CREDIT
HOME
CORPOR­
ADMINIS­
ATION
TRATION

14256.
14776.
16 944.
17483.

XXXXXXXXXXXXXXXXXXXXXXXXXXX
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

10499.

INSURED COOPERATIVE LIFE
FARM
INSURANCE
COMMERCIAL
CREDIT
COMPANIES
BANKS
SYSTEM

MILLIONS OF DOLLARS

1981-Q1...
- Q 2 ...
-Q 3 ...
-Q4. . .

20132.

TOTAL

“ 3165.

230.

“ 2420.

750.

PERCENTAGE CHANGE FROM PREVIOUS YEAR

1981-Q1. . .
“ Q2. . .
- Q 3 ...
-Q4. . .

xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
11.0
10.0
12.2

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
5.5
5.3
6.0

11.3
11.2
12.8
13.0

2.1
5.4
4.7
2.6

16.1
16.1
17.9
16.3

4.9
2.2
2.4
1.0

24.6
24.9
23.3
19.9

2.9
-25.7
2.5
60.9

X982-Q1. . .
~ Q2 . . .
“ Q3. . .
-Q4. . .

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
7.6
4.0
11.5

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
1.9
.7
4.0

11.7
10.7
10.0
9.4

4.5
6.2
8.5
8.1

12.3
9.5
7.2
4.7

-.4
-.3
-1.5
-2.0

9.2
3.9
2.7
3.2

93.3
158.8
147.4
92.6

1983-Q1. . .
- Q 2 . ..
- Q 3 ...
- Q 4 . ..

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
“ .4
2.4
“ 3.4

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
“ .5
1.0
-3.0

8.4
5.9
2.4
-.4

7.9
7.3
5.8
8.7

2.4
.3
-.6
-.1

-2.6
-2.5
-1.4
-.6

2.5
1.2
.5
1.2

71.8
62.5
17.3
-30.0

1984-Q1...
- Q 2 . ..
“ Q3. . .
“ Q4 . . .

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
“ 1.6
“ .9
“ 2.2

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
“ 6.2
-7.5
“ 3.9

-3.6
-2.8
-.5
-.1

8.7
8.1
7.5
3.2

-.3
-.4
-.1
-1.6

-.7
-.7
-.9
-2.2

2.4
4.8
5.9
6.0

-53.9
-59.4
-47.0
-17.7

1985-Q1...
- Q 2 . ..

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

.2
xxxxxx

-.4
-.7

-3.2
-5.8

-3.4
xxxxxx

7.1
xxxxxx

15.8
xxxxxx

XXXXXXXXXXXXXXXXXXXXXXXXX




i

TABLE 542 (CONTINUED)
FARM DEBT OUTSTANDING
TOTAL DEBT
QUARTER
TOTAL

542.5

REAL
ESTATE

NON-REAL
ESTATE

i
i
i

XXXXXXXXXXXXXXXXXXXXXXXXXXX

TOTAL

i
_l_

CHANGE DURING QUARTER,

1981Q1.
-Q2.
-Q3.
-Q4.

INDIVIDUALS AND OTHERS
REAL
ESTATE

|
REPORTING LENDING INSTITUTIONS
1
FARMERS COMMODITY
INSURED COOPERATIVE LIFE
i
CREDIT
FARM
INSURANCE
HOME
COMMERCIAL
NON-REAL-I
TOTAL
CORPOR­
CREDIT
COMPANIES ADMINIS­
BANKS
ESTATE
|
ATION
TRATION
SYSTEM
_____________ 1___________

MILLIONS OF DOLLARS

XXXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXXX

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

5648.
5962.
3279.
2594.

-285.
1803.
36 0.
-821.

3054
3906
2073
225

10 0 .
-26.
104.
-47.

2011.
2208.
353.
-568.

768.
-1929.
389.
38 05.

1982Q1.
-Q2.
-Q 3 .
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

4667.
5123.
2631.
1949.

464.
2597.
1329.
-1041.

1155
2635
755
-1449

-84.
-8.
-61.
-104.

38.
1124.
84.
-485.

3094.
-1225.
525.
5028.

1983Q1.
-Q2.
“ Q3.
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

34 54.
1582.
-2998.
-2703.

406.
2555.
714.
177.

-310
1224
123
-1140

-168.
12.
85.
-10.

-125.
820.
-71.
-324.

3651.
-3029.
-3848.
-1406.

1984Q1.
-Q2.
-Q3.
” Q4.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

-1953.
2845.
1007.
-2119.

466.
2504.
451.
-1874.

-411
1139
354
-2166

-172.
11.
61.
-177.

159.
1471.
19 3 .
-320.

-1995.
-2280.
-51.
2418.

1985QI.
-Q2.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

-1370.
xxxxxxx

-1292.
2355.

-1530
-725

-321.
xxxxxxx

465.
xxxxxxx

1308.
xxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx

542.6

PERCENTAGE CHANGE DURING QUARTER

1981Q1
- Q2
- Q3
- Q4

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

4.2
4.2
2.2
1.7

-.7
4.5
.9
-2.0

5.4
6.5
3.2
.3

.8
-.2
.8
-.4

10.0
10.0
1.5
-2.3

15.4
-33.6
10.2
90.5

1982Q1
- Q2
~Q3
- Q4

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

3.1
3.3
1.6
1.2

1.1
6.2
3.0
-2.3

1.7
3.9
1.1
-2.1

-.6
-.1
-.5
-.8

.2
4.7
.3
-1.9

38.6
-11.0
5.3
48.3

1983Q1
- Q2
- Q3
"Q4

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

2.1
.9
-1.7
-1.6

.9
5.7
1.5
.4

-.4
1.8
.2
-1.6

-1.3
.1
.7
-.1

-.5
3.3
-.3
-1.3

23.7
-15.9
-24.0
-11.5

1984Q1
- Q2
- Q3
- Q4

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

-1.2
1.7
.6
-1.3

1.0
5.1
.9
-3.6

-.6
1.7
.5
-3.1

-1.4
.1
.5
-1.4

.6
5.8
.7
-1.2

-18.5
-25.9
-.8
37.3

1985QI
- Q2

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

-.8
xxxxxx

-2.6
4.8

-2.2
-1.1

-2.6
xxxxxx

1.7
xxxxxx

14.7
xxxxxx




27

28
TABLE 551
FARM DEBT OUTSTANDING AT REPORTING LENDING INSTITUTIONS CUSDA ANNUAL SERIES INCLUDING FARM HOUSEHOLDS)
NON-REAL-ESTATE DEBT

REAL ESTATE DEBT
YEAR

TOTAL

I
1
1
_____________ 1
551.1

1 9 7 6 .............
1977 .............
1 9 7 8 .............
1 9 7 9 .............
1 9 8 0 .............
1 9 8 1 .............
1 9 8 2 .............
1 9 8 3 .............
1 9 8 4 .............

75229.
89411.
103157.
121597.
13 4419.
151576.
165731.
164824.
164798.
551.2

1976 .............
1977 .............
1 9 7 8 .............
1 9 7 9 .............
1 9 8 0 .............
1 9 8 1 .............|
1 9 8 2 .............|
1 9 8 3 ____ _ .
1 9 8 4 .............

xxxxxx
xxxxxx
XXXXXX

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
551.3

1 9 7 6 .............
1977 .............j
1 9 7 8 .............!
1 9 7 9 .............
1 9 8 C .............
1 9 8 1 .............
1 9 8 2 .............
1 9 8 3 .............
1 9 8 4 .............

9378.
14182.
13746.
18440.
12822.
17157.
14155.
-907 .
-26.
551.4

' 1976 .............
1 S 7 7 .............
1 9 7 8 .............
1 9 7 9 .............
1 9 8 0 .............
1 9 8 1 .............
1 9 8 2 .............
1 9 8 3 .............
1 9 8 4 .............




14.2
18.9
15.4
17.9
10.5
12.8
9.3
-.5
-.0

ALL
OPERATING
BANKS

TOTAL

AMOUNT,

END OF YEAR,

36412.
42128.
47962.
57734.
65580.
74049.
78048.
80186.
81714.

6781.
7780.
8557.
8623.
8745.
8387.
8441.
9317 .
10177.

FEDERAL
LAND
BANKS

LIFE
INSURANCE
COMPANIES

18.6
18.5
17.8
14.9
13.3
11.3
10.8
11.6
12.5

CHANGE DURING YEAR,
3989.
5716 .
5834.
9772.
7846.
8470.
3998.
21 38.
1528.

485.
999.
777.
66.
12 2 .
-358.
54.
876.
860.

TOTAL

FEDERAL
FARMERS COMMODITY
ALL
PRODUCTION
CREDIT
INTERMEDIHOME
OPERATING CREDIT
CORPOR­
ATE CREDIT ADMINISBANKS
ASSOCIA­
ATION
BANK3____ TRATION
TIONS

MILLIONS OF DOLLARS
18574.
21547.
24806.
29835.
36192.
43844.
47720.
48823.
49080.

38817.
47283.
55195.
63864.
68840.
77527.
87684.
84638.
83084.

23283.
25709.
28273.
31 034.
31567.
32948.
36149.
39056.
39742.

12249.
13519.
14967.
18 113.
19 729.
21203.
20472.
19 285.
17 900.

36 8 .
374.
509.
665.
810.
913.
871.
850.
899.

1877.
3141.
5780.
8982.
11756.
14 452.
14 759.
14 646.
15651.

1040.
4540.
5666.
5070.
4978.
8011.
15433.
10801.
8892.

10.0
9.5
8.6
12.3
11.8
11.8
11.6
11.6
12.3

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

60.0
54.4
51.2
48.6
45.9
42.5
41.2
46.1
47.8

31.6
28.6
27.1
28.4
28.7
27.3
23.3
22.8
21.5

.9
.8
.9
1.0
1.2
1.2
1.0
1.0
1.1

4.8
6.6
10.5
14.1
17.1
18.6
16.8
17.3
18.8

2.7
9.6
10.3
7.9
7.2
10.3
17.6
12.8
10.7

674.
1419.
1659.
1687.
763.
14 6 .
-272.
-85.
-273.

288.
325.
1 3 9.
2990.
604.
1029.
341.
244.
684.

5389.
8466 .
7912.
8669.
4976.
8687.
10 157.
-3046.
-1554.

3123.
2426 .
2564.
2761.
533.
1381.
3201.
2907.
686.

18 .
6.
135.
156.
145.
1 0 3.
-42.
-21.
49.

105.
1264.
2639.
3202.
2774.
2696.
307.
-113.
1005.

665.
3500.
1126.
-596.
-92.
3033.
7422.
-4632.
-1909.

10.0
19.2
18.8
16.1
6.3
1.1
-2.1
-.7
-2.1

8.5
8.9
3.5
72.6
8.5
13.3
3.9
2.7
7.3

16.1
21.8
16.7
15.7
7.8
12.6
13.1
-3.5
-1.8

5.9
67.3
84.0
55.4
30.9
22.9
2.1
-.8
6.9

177.3
336.5
24.8
-10.5
-1.8
60.9
92.6
-30.0
-17.7

7400.
8819.
10478.
12 165.
12 928.
13074.
12 802.
12 717.
12 444.

PERCENTAGE OF TOTAL SPECIFIED DEBT,
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

FARMERS
I
HOME
ADMINIS­
TRATION

51.0
51.1
51.7
51.7
55.2
59.2
61.1
60.9
60.1

3657.
3982.
4121.
7111.
7715.
8744.
9085.
9329.
10 013.

END OF YEAR

20.3
20.9
21.8
21.1
19.7
17.7
16.4
15.9
15.2

MILLIONS OF DOLLARS
2542.
2973.
3259.
5029.
6357.
7653.
3875.
1103.
257 .

1478.
1270.
1448.
3146.
1616.
1474.
-731.
-1187.
-1385.

PERCENTAGE CHANGE DURING YEAR
12.3
15.7
13.8
20.4
13.6
12.9
5.4
2.7
1.9

7.7
14.7
10.0
.8
1.4
-4.1
.6
10.4
9.2

15.9
16.0
15.1
20.3
21.3
21.1
8.8
2.3
.5

15.5
10.4
10.0
9.8
1.7
4.4
9.7
8.0
1.8

13.7
10.4
10.7
21.0
8.9
7.5
-3.4
-5.8
-7.2

5.1
1.6
36.1
30.6
21.8
12.7
-4.6
-2.4
5.8

TABLE 552
FARM DEBT OUTSTANDING AT REPORTING LENDING INSTITUTIONS
REAL ESTATE DEBT
QUARTER

TOTAL
TOTAL

552.1

AMOUNT,

FEDERAL
LAND
BANKS

INSURED
COMMERCIAL
BANKS
END OF QUARTER,

i
i
FARMERS |
HOME
|
ADMINIS-1
TRATION 1

LIFE
INSURANCE
COMPANIES

NON-REAL-ESTATE DEBT
TOTAL

FEDERAL
FARMERS COMMODITY
INSURED PRODUCTION
CREDIT
COMMERCIAL
INTERMEDIHOME
CREDIT
CORPOR­
ATE CREDIT ADMINISBANKS
ASSOCIA­
ATION
BANKS
TRATION
TIONS

MILLIONS OF DOLLARS

1981-Q1. . .
-Q 2 ...
- Q 3 . ..
-Q4. . .

140575.
146537.
149816.
152410.

68395.
70826.
72896.
74315.

8464.
8439.
8412.
8301 .

38275.
40523.
42365.
43939.

13 028.
13002.
13 106.
13059.

8629.
8863.
9013.
9017.

72180.
75711.
76920.
78094.

31338.
33166.
33553.
32843.

20766.
22323.
22514.
21232.

858.
958.
998.
932.

13472.
15447.
15649.
15077 .

5746.
3817.
4206.
8011.

1 9 8 2 - Q l . ..
- Q 2 . ..
- Q 3 . ..
-Q4. . .

157077.
162200.
164831.
166780.

75759.
77292.
78131.
78333.

8326.
8450.
8521 .
8362.

45401.
46690.
47412.
47823.

12974.
12967.
12 906.
12802.

9057 .
9185.
9292.
9347.

81318.
84908.
86700.
88447.

33282.
35755.
37013.
36131.

20988.
22263.
22276.
20503.

868.
939.
958.
872.

15 075.
16071.
16048.
15508.

11105.
9880.
10405.
15433.

1983-Q1. . .
- Q 2 . ..
- Q 3 . ..
- Q 4 ...

170234.
171816.
168819.
166116.

78624.
79612.
80275.
80703.

8455.
8852.
9065.
9291.

48112.
48545.
48860.
48929.

12634.
12646.
12731.
12721.

9423.
9569.
9620.
9762.

91610.
92204.
88543.
85413.

36444.
38602.
39103.
39054.

19 939.
20703.
20459.
19315.

836.
863.
916.
850.

15307.
15 981.
15859.
15 393.

19084.
16055.
12207.
10801.

1984-Q1...
- Q 2 . ..
- Q 3 . ..
-Q4. . .

164163.
167008.
168015.
165896.

81055.
81905.
82461.
82059.

9638.
9974.
10151.
10155.

49021.
49303.
49527.
49187.

12549.
12560.
12621.
12444.

9847.
10068.
10162.
10273.

83109.
85103.
85555.
83837.

39173.
41341.
41615.
39737.

18 862.
19 643.
19695.
17925.

801.
877 .
954.
899.

15 467.
16 717.
16 816.
16 385.

8806.
6525.
6474.
8892.

1985-Q1...
- Q 2 . ..

164526.
xxxxxxx

81905.
xxxxxxx

10278.
10670.

49040.
48050.

12123.
xxxxxxx

10464.
xxxxxxx

82622.
xxxxxxx

38322.
40285.

16 680.
16980.

761.
726.

16 659.
xxxxxxx

10200.
xxxxxxx

100.0
100.0
100.0
100.0

43.4
43.8
43.6
42.1

28.8
29.5
29.3
27.2

1.2
1.3
1.3
1.2

18.7
20.4
20.3
19.3

8.0
5.0
5.5
10.3

100.0
100.0
100.0
100.0

4 0 . 9.
42.1
42.7
40.9

25.8
26.2
25.7
23.2

1.1
1.1
1.1
1.0

18.5
18.9
18.5
17.5

13.7
11.6
12.0
17.4

552.2

PERCENTAGE OF TOTAL SPECIFIED DEBT,

END OF QUARTER

1981-Q1...
- Q 2 ...
-Q3. . .
“ Q4. . .

xxxxxx
xxxxxx
xxxxxx
xxxxxx

100.0
100.0
100.0
100.0

12.4
11.9
11.5
11.2

56.0
57.2
58.1
59.1

19.0
18.4
18.0
17.6

12.6
12.5
12.4
12.1

1982-Q1...
■*Q2. . .
-Q3. . .
-Q 4.. .

xxxxxx
xxxxxx
xxxxxx
xxxxxx

100.0
100.0
100.0
100.0

11.0
10.9
10.9
10.7

59.9
60.4
60.7
61.1

17.1
16.8
16.5
16.3

12.0
11.9
11.9
11.,9

1983-Q1. . .
- Q 2 ...
“ Q3. . .
- Q 4 ...

xxxxxx
xxxxxx
xxxxxx
xxxxxx

100.0
100.0
100.0
100.0

10.8
11.1
11.3
11.5

61.2
61.0
60.9
60.6

16.1'
15.9
15.9
15.8

12.0
12.0
12.0
12.1

100.0
100.0
100.0
100.0

39.8
41.9
44.2
45.7

21.8
22.5
23.1
22.6

.9
.9
1.0
1.0

16.7
17.3
17.9
18.0

20.8
17.4
13.8
12.6

1984-Q1...
- Q 2 ...
~Q3. . .
-Q4. . .

xxxxxx
xxxxxx
xxxxxx
xxxxxx

100.0
100.0
100.0
100.0

11.9
12.2
12.3
12.4

60.5
60.2
60.1
59.9

15.5
15.3
15.3
15.2

12.1
12.3
12.3
12.5

100.0
100.0
100.0
100.0

47.1
48.6
48.6
47.4

22.7
23.1
23.0
21.4

1.0
1.0
1.1
1.1

18.6
19.6
19.7
19.5

10.6
7.7
7 .6
10.6

1985-Q1...
- Q 2 ...

xxxxxx
xxxxxx

100.0
xxxxxx

12.5
xxxxxx

59.9
xxxxxx

14.8
xxxxxx

12.8
xxxxxx

100.0
xxxxxx

46.4
xxxxxx

20.2
xxxxxx

.9
xxxxxx

20.2
xxxxxx

12.3
xxxxxx




|
I
1
i

29

30
TABLE 552 (CONTINUED)
FARM DEBT OUTSTANDING AT REPORTING LENDING INSTITUTIONS
REAL

E S T A T E DEBT

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

i
QUARTER

TOTAL
TOTAL
j

552.3

CHANGE

FROM

INSURED
COMMERCIAL
BANKS

PREVIOUS

FEDERAL
LAND
BANKS

YEAR,

MILLIONS

1981-Q1.
-Q2.
~Q3.
-Q4.

14256.
14776.
16944.
17483.

8027.
7753.
8188.
8043.

- 54.
3.
-76.
-245.

6485.
6662.
7300.
7659.

1982-Q1.
- Q2.
- Q3.
-Q 4 .

16502.
15663.
15016.
14371.

7364.
6465.
5236.
4018.

-138.
11.
109.
61.

1983-Q1.
-Q2.
-Q3.
-Q 4 .

13157.
9616 .
3987 .
-664.

2865.
2321 .
2144.
2370.

1984-Q1.
-Q 2 .
-Q 3 . ..
-Q 4 .

-6071.
-4809.
-803.
-220.

2431.
2293.
2185.
1356 .

1985-Q1.
-Q2.

363.
**xxxxx

552.4

85 0 .
xxxxxxx

PERCENTAGE

LIFE
INSURANCE
COMPANIES

OF

FARMERS
HOME
1
ADMINIS­
TRATION

16 0.
-1322.
10 3.
3033.

1702.
1994.
2478.
147 7 .

130.
20 3.
22 4.
121.

3380.
4038.
3994.
3506.

9139.
9198.
9780.
10353.

194 4 .
2589.
3460.
3288.

22 2.
-59.
-238.
-728.

10.
-2 0.
-4 0.
-6 0.

1603.
624.
3 99.
431 .

366.
384.
328.
415.

10292.
7296 .
1843.
-3034.

3162.
2847.
2090.
2923.

-1049.
-1560.
-1818.
-1188.

-3 2.
-7 6.
-42.
-2 2.

23 2 .
-90.
-189.
-115.

7979.
6175.
1802.
-4632.

-85.
-86.
-109.
-277.

4 24.
499.
542.
511.

-8501.
-7101.
-2989.
-1576.

2729.
2739.
2512.
6 83.

-1077.
-1060.
-763.
-1391.

- 35.
14.
38.
49.

16 0.
736.
9 57.
99 2 .

-10278.
-9530.
-5733.
-1909.

19.
-1253.

-426.
xxxxxxx

61 7 .
xxxxxxx

-487.
xxxxxxx

-851.
-1056.

-2182.
-2663.

-4 0.
-151.

1192.
xxxxxxx

139 4 .
xxxxxxx

PREVIOUS

YEAR

7127 .
6167 .
5047 .
3884.

-53.
-35.
-200.
-257.

428.
322.
279.
330.

129.
402.
544.
929.

2711.
185 5 .
1447 .
1106 .

-341 .
-321.
-175.
- 81 .

1183.
1122.
1086.
864.

909.
75 7 .
667 .
258.

FROM

COMMODITY
FARMERS
CREDIT
HOME
CORPOR­
ADMINIS­
ATION
TRATION

85 7 .
2111.
1957.
1302.

9 84.
81 1 .
65 8 .
498.

CHANGE

FEDERAL
INTERMEDIATE CREDIT
BANKS

DOLLARS

613.
277.
306.
131.

64 0 .
696 .

TOTAL

PRODUCTION
INSURED
CREDIT
COMMERCIAL
BANKS
ASSOCIATIONS

6229.
7024.
8756 .
9440.

5359.
6063.
6199.
7422.

1981-Q 1 .
- Q2.
- Q3.
-Q4 .

11.3
11.2
12.8
13.0

13.3
12.3
12.7
12.1

-.6
.0
-.9
-2.9

20.4
19.7
20.8
21.1

4.9
2.2
2.4
1.0

12.9
10.1
7.9
5.8

9.4
10.2
12.8
13.7

2.8
6.8
6.2
4.1

8.9
9.8
12.4
7.5

17.9
26.9
29.0
14.9

33.5
35.4
34.3
30.3

2.9
-25.7
2.5
60.9

1982-Q1.
-Q 2.
-Q 3.
- Q4.

11.7
10.7
10.0
9.4

10.8
9 .1
7.2
5.4

-1.6
.1
1.3
.7

18.6
15.2
11.9
8.8

-.4
-.3
-1.5
-2.0

5.0
3.6
3.1
3.7

12.7
12.1
12.7
13.3

6.2
7.8
10.3
10.0

1.1
-.3
-1.1
-3.4

1.2
-2.1
-4.0
-6.4

11.9
4.0
2.5
2.9

93.3
158.8
147.4
92.6

1983-Q1.
-Q 2.
-Q 3.
-Q4.

8.4
5.9
2.4
-.4

3.8
3.0
2 .7
3.0

1.5
4.8
6.4
11.1

6.0
4.0
3.1
2.3

-2.6
-2.5
-1.4
- .6

4.0
4.2
3.5
4.4

12.7
8.6
2 .1
-3.4

9.5
8.0
5.6
8.1

-5.0
-7.0
-8.2
-5.8

-3.7
-8.1
-4.4
-2.5

1.5
-.6
-1.2
-.7

71.8
62.5
17.3
-30.0

1984-Q1.
-Q2.
“Q 3 .
-Q 4.

-3.6
-2.8
-.5
- .1

3.1
2.9
2.7
1.7

14.0
12.7
12.0
9.3

1.9
1.6
1.4
.5

-.7
-.7
-.9
-2.2

4.5
5.2
5.6
5.2

-9.3
-7.7
-3.4
-1.8

7.5
7.1
6.4
1.7

-5.4
-5.1
-3.7
-7.2

-4.2
1.7
4.2
5.7

1.0
4 .6
6.0
6.4

-53.9
-59.4
-47.0
-17.7

1985-Q1.
-Q2.

1 .0

6.6
7.0

.0
-2.5

-3.4

XXXXXX

XXXXXX

6.3
xxxxxx

-.6
xxxxxx

-2.6

-11.6
-13.6

-5.0
-17.2

7.7
xxxxxx

15.8
xxxxxx

.2




xxxxxx

|
1
1
1

1

-2 .2

TABLE 552 (CONTINUED)
FARM DEBT OUTSTANDING AT REPORTING LENDING INSTITUTIONS
REAL ESTATE DEBT
QUARTER

TOTAL
TOTAL

552.5
1981-Q1.
-Q2.
-Q3.
-Q4.

..

1982-Q1.
-Q2.
-Q3.
-Q4.
1983-Q1.
” Q2.
-Q3.
-Q4.
1984-Q1.
-Q 2.
-Q3.
-Q4.

..
,.

1985-Q1.
-Q2.

TOTAL

INSURED PRODUCTION
FARMERS
FEDERAL
CREDIT
INTERMEDI­
COMMERCIAL
HOME
BANKS
ASSOCIA­
ATE CREDIT ADMINIS­
TIONS
TRATION
BANKS

COMMODITY
CREDIT
CORPOR­
ATION

MILLIONS OF DOLLARS
1995.
2248.
1842.
1574.

100.
-26 .
104.
-47 .

110.
234.
150.
4.

3525.
3531.
1210.
1174.

-203.
1828.
387.
-710.

1012.
1557.
192.
-1283.

47.
10 1 .
39.
-66 .

1901.
1975.
202.
-572.

768.
-1929.
389.
3805.

4667 .
5123.
2631 .
1949.

1443.
1533.
839.
202.

25.
124.
71.
-159.

1462.
1289.
723.
410.

-84.
-8.
-61.
-104.

40.
128.
107.
55.

3224.
3590.
1792.
1747.

439.
2473.
1258.
-882.

-243.
1275.
13.
-1773.

-64.
71.
19.
-86.

-2.
996 .
-23.
-540.

3094.
-1225.
525.
5028.

3454.
1582.
-2998.
-2703.

291.
988.
663.
427.

93.
397.
213.
226.

290.
433.
314.
69.

-168.
12 .
85.
-10.

76.
146.
51.
142.

3163.
594.
-3661.
-3130.

313.
2158.
501.
-49.

-564.
764.
-244.
-1143.

-36.
27.
53.
-66.

-201.
674.
-122.
-466.

3651.
-3029.
-3848.
-1406.

-1953.
2845.
1007 .
-2119.

352.
850.
556.
-402.

347.
336 .
177.
4.

92.
282.
224.
-340.

-172.
11 .
61.
-177.

85.
221.
94.
11 1 .

-2305.
1994.
451.
-1717.

119.
2168.
274.
-1878.

-453.
781.
53.
-1771.

-49.
76.
77.
-55.

74.
1250.
99.
-431.

-1995.
-2280.
-51.
2418.

-1370.

-154.
xxxxxxx

123.
392.

-147 .
-990.

-321.
xxxxxxx

191.
xxxxxxx

-1216.
xxxxxxx

-1415.
1963.

-1245.
300.

-138.
-35.

274.
xxxxxxx

13 0 8 .
xxxxxxx

PERCENTAGE CHANGE DURING QUARTER
3.2
3.6
2.9
1.9

-1.0
-.3
-.3
-1.3

5.5
5.9
4.5
3.7

.8
-.2
.8
-.4

1.3
2.7
1.7
.0

5.1
4.9
1.6
1.5

-.6
5.8
1.2
-2.1

5.1
7.5
.9
-5.7

5.8
11.7
4.1
-6.6

16.4
14.7
1.3
-3.7

15.4
-33.6
10.2
90.5

1.9
2.0
1.1
.3

.3
1.5
.8
-1.9

3.3
2.8
1.5
.9

-.6
-.1
-.5
-.8

.4
1.4
1.2
.6

4.1
4.4
2.1
2.0

1.3
7.4*
3.5
-2.4

-1.1
6.1
.1
-8.0

-6.8
8.1
2.1
-9.0

-.0
6.6
-.1
-3.4

38.6
-11.0
5.3
48.3

2.1
.9
-1.7
-1.6

.4
1.3
.8
.5

1.1
4.7
2.4
2.5

.6
.9
.6
.1

-1.3,
.1
.7
-.1

.8
1.5
.5
1.5

3.6
.6
-4.0
-3.5

.9
5.9
1.3
-.1

-2.8
3.8
-1.2
-5.6

-4.1
3.2
6.1
-7.2

-1.3
4.4
-.8
-2.9

23.7
-15.9
-24.0
-11.5

-1.2
1.7
.6
-1.3

.4
1.0
.7
-.5

3.7
3.5
1.8
.0

.2
.6
.5
-.7

-1.4
.1
.5
-1.4

.9
2.2
.9
1.1

-2.7
2.4
.5
-2.0

.3
5.5
.7
-4.5

-2.3
4.1
.3
-9.0

-5.8
9.5
8.8
-5.8

.5
8.1
.6
-2.6

-18.5
-25.9
-.8
37.3

-.8
xxxxxx

-.2
xxxxxx

1.2
3.8

-.3
-2.0

-2.6
xxxxxx

1.9
xxxxxx

-1.4
xxxxxx

-3.6
5.1

-6.9
1.8

-15.4
-4.6

1.7
xxxxxx

14.7
xxxxxx

1982-Q1.
- Q 2 . ••1
-Q3.
-Q4.

3.1
3.3
1.6
1.2

19 8 5 - Q 1 .
-Q2.

FARMERS
HOME
ADMINIS­
TRATION

-82.
-25.
-27.
-111.

4.2
4.2
2.2
1.7

..

LIFE
INSURANCE
COMPANIES

2123.
2431.
20 69.
1420.

1981-Q1.
-Q2.
- Q 3 . ••1
-Q4.

1984-Q1.
-Q2.
-Q3.
-Q4.

CHANGE DURING QUARTER,

FEDERAL
LAND
BANKS

5648 .
59 62.
32 79.
2594.

552.6

1983-Q1.
-Q2.
-Q3.
-Q4.

INSURED
COMMERCIAL
BANKS

NON-REAL-ESTATE DEBT




|
|
|
!

31

FARM

L E N D IN G

O P E R A T IO N S

AND

32

E X P E R IE N C E

Summary of operations and experience at major institutional lenders
611
612

Average loans outstanding, and lending flows
as percentage of loans outstanding.... ............ 33
Loans outstanding (end of period) and lending flows.*. 34

Estimates from survey of bank non-real-estate loans
621
622
623
624
625
626

Amount ***......... *........ ................. .
Number............ *............. *....... *.........
Average size...... ****.............. *...............
Average maturity...... *............ ................
Average effective interest rate...*................. .
Percentage of loans with a floating interest rate....

35
36
37
38
39
40

Except for data on loans made by commercial banks, data are from sources listed on page 23•
Note that data on loans outstanding at PCAs and Federal Land Banks for 1974 to 1984 have been adjusted to
include estimated nonaccrual loans inadvertently excluded from their reports.
Data for 1985-Q1 are based on final or near-final reports from the lending institutions.
Data for 1985-Q2 shown for banks and the Farm Credit System are estimated on the basis of reports available
from over half of these institutions as of August 9, 1985.
Data on loans made by commercial banks are from quarterly sample surveys conducted by the Federal Reserve
System. During the first full week of the second month of each quarter, 348 banks report detailed information
on each loan made, and these data are expanded to national estimates for all insured commercial banks.
Typically, about 180 banks report at least one loan, and the total number of loans reported varies seasonally
from about 2,200 to 3,500. Thus, the sample represents about 0.3 percent of the estimated total number of
loans made by all banks, and the national estimates exhibit variability due to sampling error. Sampling
variability is particularly evident when data from two or more quarterly surveys are compared (as in Table 612)
and in data on average maturity, which are greatly affected by the occasional appearance of loans with a maturity
of about 20 years. Additional information on survey coverage and procedures is provided in "Survey of Terms of
Bank Lending,” Federal Reserve Bulletin, May 1977, and in "New Survey of Terms of Bank Lending to Farmers,"
Agricultural Finance Review, May 1978. More detailed current survey results are published quarterly in Table 5
of Statistical Release E.2, "Survey of Terms of Bank Lending,” for which a mailing list is maintained by
Publications Services, Mail Stop 138, Federal Reserve Board, Washington, D.C. 20551.




FARM LENDING OPERATIONS AND EXPERIENCE
TABLE 611

AVERAGE FARM LOANS OUTSTANDING (MILLIONS OF DOLLARS), AND FARM LENDING FLOWS AS PERCENTAGE OF AVERAGE LOANS OUTSTANDING

PERIOD

COMMERCI/SiL BANKS |
PRODUCTION CREDIT ASSOCIATIONS
FEDERAL LAND BANKS
(NON-REAL - ES T A T E ) 1
LENDINC5 FLOWS AS PERCENTAGE
LOANS
I
i LENDING FLOWS AS PERCENTAGE
OF _OANS 01JTSTANDING
OF LOANS 01JTSTANDING
AVERAGE
AVERAGE MADE AS I AVERAGE I
LOANS
LOANS
|
NEW
REFI­
LOANS
PERCENT I
i
i
OUT­
OUT­
LOANS
MONEY NANCING REPAY­
LOANS
NEW
OUTI
OF LOANSI
RENEW-ICOLLECSTANDING CLOSED LOANED OF FLB MENTS
OUTI STANDING!
STANDING
MADE LOANS
ALS
I TIONS
LOANS
STANDING!
1
1

LIFE INSURANCE COMPANIES
FLOWS AS PER­
CENT OF LOANS
AVERAGE
OUTSTANDING
LOANS
ACQUI­
DISPO­
OUT­
STANDING SITIONS SITIONS

611.1

ANNUAL

1 9 7 0 ____
1 9 7 1 ____
1 9 7 2 ____
1 9 7 3 ____
1 9 7 4 ____
1 9 7 5 ____
1 9 7 6 ____
1 9 7 7 ____
1 9 7 8 ____
1 9 7 9 ____

10959.
12014.
13509.
15863.
18068.
19113.
21783.
25004.
26852.
29568.

xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
174.
173.
178.

5115.
5987.
6569.
7347.
8858.
10447.
11805.
13406.
14324.
16600.

162.
157.
159.
177.
162.
153.
155.
150.
162.
175.

110.
105.
106.
124.
113.
103.
105.
100.
112.
126.

52.
53.
53.
53.
49.
50.
50.
49.
50.
49.

94.
91.
98.
107.
93.
91.
92.
91.
102.
108.

6969.
7561.
8454.
10047.
12188.
14913.
17429.
20228.
23250.
27358.

14.6
20.6
26.5
31.5
32.3
28.3
26.3
27.8
25.9
30.7

12.5
16.3
21.2
26.3
27.4
23.3
21.2
21.8
20.5
24.4

2.1
4.3
5.2
5.3
4.9
5.0
5.1
5.9
5.4
6.3

5.7
6.6
7.3
7.8
6.3
6.1
6.6
7.1
6.6
5.9

5620.
5542.
5550.
5727.
6099.
6509.
6985.
8049.
9640.
11359.

5.6
9.1
12.6
17.5
16.5
16.5
21.6
29.5
28.5
24.7

7.8
9.9
11.2
11.9
11.0
9.9
12.0
11.9
11.3
9.9

1 9 8 0 ____
1 9 8 1 ____
1982. . . .
1983. . . .
1 9 8 4 ____

31101.
32562.
35134.
37935.
40381 .

193.
188.
192.
184.
160.

19594.
21524.
21599.
20253.
19205.

165.
161.
151.
146 .
145.

115.
112.
100.
96 .
97.

50.
49.
50.
50.
48.

107.
106.
104.
102.
103.

33454.
40318.
46346.
48473.
49227.

28.8
28.2
15.4
9.5
8.4

23.4
22.8
12.1
7.4
6.6

5.3
5.4
3.3
2.1
1.7

4.4
3.8
3.7
5.1
6.1

12611.
13037.
12948.
12 684.
12572.

13.1
9.0
5.4
9.2
7.9

7.1
7.3
7.1
9.9
9.9

11.7
8.1
10.9
5.4

6.2
7.8
8.4
6.8

QUARTERLY (SEASONALLY ADJUSTED)

611.2
1981-Q1.
-Q2.
-Q3.
-Q4.

31938.
32444.
32836.
33009.

181.
201.
178.
187.

20785.
21557.
21854.
21841.

170.
162.
161 .
151.

122.
114.
110.
102.

50.
48.
50.
49.

104.
106.
107.
106.

37386.
39351.
41329.
43193.

29.6
29.2
28.7
26.2

23.6
23.9
23.2
21,0

5.8
5.3
5.5
5.2

4.1
4.1
3.6
3.7

13017.
13 020.
13042.
13071.

1982-Ql.
-Q2.
-Q3.
” Q4.

33623.
34693.
35771.
36389.

202.
160.
218.
198.

21683.
21668.
21687.
21319.

14 9 .
158.
152.
144.

98.
105.
102.
97.

50.
53.
50.
47.

104.
101.
103.
107.

44787.
46017.
46936.
47635.

19.9
16.3
13.0
11.2

15.7
13.0
10.1
8.7

4* 2
3.4
2.9
2.4

3.9
3.9
4.8
4.9

13040.
12990.
12927.
12831.

5.1
6.6
4.7
4.8

5.2
7.3
8.4
7.9

1983-Q1.
-Q2.
-Q3.
-Q4.

36944.
37699.
38160.
38903.

180.
203.
158.
189.

20790.
20404.
20027.
19794.

147.
146.
146.
145.

97.
95.
96.
96.

50.
51.
50.
49.

106.
101.
102.
97.

48076.
48325.
48599.
48888.

10.1
9.5
9.6
8.6

7.8
7.4
7.5
6.6

2.3
2.2
2.1
2.0

5.5
5.7
6.3
6.0

12728.
12670.
12664.
12671.

6.3
7.5
11.9
11.3

8.4
9.5
11.3
11.9

1984-Q1.
-Q2.
-Q3.
-Q4.

39859.
40438.
40710.
40489.

180.
167.
156.
136.

19636.
19359.
19135.
18692.

147.
147.
145.
140.

97.
99.
96.
95.

49.
49.
49.
45.

105.
103.
99.
104.

49072.
49178.
49322.
49336.

9.4
9.0
7.7
7.1

7.4
7.1
6.1
5.7

2.0
1.9
1.6
1.3

6.5
7.0
6.7
8.6

12647.
12571.
12 553.
12 516.

7.8
9.3
9.1
4.4

9.8
10.8
8.8
9.3

1985-Q1.
-Q2.

39781.
39476.

158.
149.

17798.
16941.

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx

49203.
48571.

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx

12321.
xxxxxx

3.7
xxxx

10.7
xxxx




I
I

,

j

33

34
FARM LENDING OPERATIONS AND EXPERIENCE
TABLE 6 1 2

FARM LOANS OUTSTANDING (END OF PERIOD) AND FARM LENDING FLOWS

PERIOD

612.1

ANNUAL,

7.
13.
15.
20.
6.
11.
15.
11.
10.
10.

xxxx
x xx x
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
7.
13.

18.
15.
8.
18.
22.
13.
14.
10.
11 .
21.

17.
14 .
11.
25.
10 .
11.
14.
10.
16.
25.

16.
12.
11.
31.
9.
8.
15 .
8.
19.
30.

18.
18.
10.
13.
12.
20.
12.
13.
8.
14 .

1 9 8 0 ____
1 9 8 1 ____
1 9 8 2 ____ !
1 9 8 3 ____
1 9 8 4 ___

2.
4.
10.

14 .
2.
10.
4.
-8.

9.
7.
-3.
-6.
-7.

11.
7.
-6 .
-9.
-6 .

8.
7.
-10.
-10.
-5.

21.
8.
3.
-6 .
-9.

2.

612.2

QUARTERLY ,

LOANS
DISPO­
ACQUI­
OUT­
STANDING SITIONS SITIONS

NEW | REFIMONEY INANCING REPAY­
LOANEDIOF FLB MENTS
1 LOANS

10.
8.
6.
8.

-2.
39 .
-23.
1.

-5.
-7 .
-8.
-6.

-5.
-12.
-11.
-8 .

-6 .
-14.
-12.
-9.

-4.
-8.
-8.
-5.

19 8 4 - Q 1 .
-Q2.
-Q3.
-Q4.

7.
7.
6.
2.

8.
-12.
6.
-26 .

-5.
-5.
-4.
-7 .

-6 .
-4.
-5.
-9.

-5.
-1 .
-5.
-7 .

-7 .
-9.
-6.
-15.

1935-Q1.
- Q2.

-2.
-3.

-12.
-13.

-12.
-14.

xxxx
xxxx

x xx x
xxxx

xxxx
xxxx

QUARTERLY ,

^ 7
1«.
18.
23.
5.
15.
15.
12.
20.
22.
17.
9.
-1.
-8.
-4.

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

7.
10 .
15.
20.
24.
19 .
16.
16 .
15.
20.

xxxx
53.
44.
42.
24.
7.
9.
23.
7.
40.

-12.
41.
46.
47 .
27 .
4.
6.
20.
8.
40.

xxxx
123.
36.
20.
13 .
24.
20.
35.
5.
36.

-0.
25.
25.
26.
-2.
18 .
27.
25.
6.
6.

-2.
-1.
1.
6.
6.
7.
10 .
19 .
19 .
16 .

xxxx
60.
39.
43.
0.
7.
4o;
57.
16 .
2.

xxxx
25.
13.
10.
-2.
-4.
29.
14.
14 .
3.

21.
21 .
9.
2.
1.

15.
18.
-37.
-35.
-11.

17.
17.
-39.
-36 .
-9.

4.
23.
-30.
-32.
-18.

-8.

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

-41.
-29.
-40.
66 .
-15.

-20.
6.
-3.
36 .
-1 .

6.
4.
3.
2.

-45.
-39.
-24.
-21.

-46.
-40.
-24.
-22.

-42.
-34.
-25.
-16.

48.
53.
48.
29.

!
I
|
|

-3.
-2.
-1 .
-1 .

16.
12.
156 .
133.

44.
26 .
34.
40.

2.
2.
1.
1.

-7.
-4.
-18.
-18.

-5.
-2.
-17.
-13.

-11.
-11.
-21 .
-34.

18.
23.
-10.
50.

|

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

19.
23.
-20.
-61 .

11.
13.
-18.
-11.

0.
-3.

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx

|

-3.
xxxx

-54.
xxxx

6.
xxxx

174.
104.
516.
-18.

27.
61.
99.
22.
-54.
43.
-55.
23.
65.
xxxxx

4.

12 .
44.
22.

PERCENTAGE CHANGE FROM A YEAR EARLIER

1983-Q1.
-Q2.
-Q3.
-Q4.

612.3

LOANS
1
OUT| LOANS
STANDINGICLOSED
1

PERCENTAGE CHANGE FROM PREVIOUS YEAR

1 9 7 0 ____
1 9 7 1 ____
1 9 7 2 ____
1 9 7 3 ____
1 9 7 4 ____
1 9 7 5 ____
1 9 7 6 ____
1977 ____
1 9 7 8 ____
1 9 7 9 ____

8.

LIFE INSURANCE COMPANIES

FEDERAL LAND BANKS

PRODUCTION CREDIT ASSOCIATIONS
ba NKS I
(NON-REAL-ESTATE)
LOANS
LOANS
NEN
OUT­
LOANS
LOANS
OUT­
RENEW­ COLLEC­
STANDING
MADE
STANDING
MADE LOANS
ALS
TIONS

c o mm e r c i a l

-1 .
-7 .
-9.
-15.
-8.
-4.
-8.
1•
x xx x
x xx x

1

PERCENTAGE CHANGE FROM PREVIOUS QUARTER (SEASONALLY-ADJUSTED iANNUAL RATE)

1983-Q1.
-Q2.
-Q3.
-Q4.

11 .
6.
4.
12.

-28.
76.
-62.
125.

-8.
-6.
-8.
-1.

-2.
-9.
-8.
-8.

-11.
-12.
-4.
-5.

11.
5.
-17.
-11.

-14.
-24.
-4.
-20.

2.
2.
3.
2.

-32.
-18.
5.
-33.

-33.
-18.
8.
-40.

-23.
-17.
-12.
-7.

60.
23.
47.
-17.

-3.
-1.
1.
-0.

1984-Q1.
-Q2.
-Q3.
-Q4.

8.
4.
2.
-6.

-10.
-22.
-21.

2.
0.
-17.
-9.

-3.
-10.
3.
-38,

1.
1.
-1.

59.
-13.
-45.
-24.

-1.
-22.
-46.
-56.

-13.
171.

-3.
-1.

14.

40.
-16.
-44.
-30.

47.
31.

-14.

2.
-4.
-10.
-21.

28.
-12.
-19.

-44.

-5.
-6.
-3.

“ 5.

-78.
102.
-11.
-95.

1985-Q1.
-Q2.

-8.
2.

67.
-22.

-21.
-14.

xxxxx
xxxxx

xxxxx
xxxxx

xxxxx
xxxxx

xxxxx
xxxxx

-1.
-9.

xxxxx
xxxxx

xxxxx
xxxxx

xxxxx
xxxxx

xxxxx
xxxxx

-7.
xxxxx

-51.
xxxxx




1.

1.

i

ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 621
AMOUNT OF LOANS MADE (BILLIONS OF DOLLARS)*
PURPOSE OF LOAN

1
1
OTHER
PERIOD
| ALL LOANS
OTHER
CURRENT
FEEDER
1
LIVESTOCK OPERATING
LIVESTOCK
1
EXPENSES
1
1
OF
LOANS
6
2
1
.
1
ANNUAL
AMOUNT
MADE
i
i
1
1 9 / 7 ..................|
5.
9.
16.
A3.
1 9 7 8 ..................i
A7 .
13.
A.
17 .
1 9 7 9 ..................i
17 .
5.
19.
53.
|
16 .
2A.
1 9 8 0 ..................|
60.
5.
A.
27.
1 9 8 1 ..................|
61 .
13.
28.
1 9 8 2 ..................
1A.
5.
67 .
33.
1 9 8 3 ..................
12.
6.
70.
30.
198 A ..................
10.
6.
6 A.
621.2

SIZE OF BANK

SIZE OF LOAN
(THOUSANDS OF DOLLARS)

FARM
MACHINERY
AND
EQUIPMENT

OTHER

1 TO
9

10 TO
2A

25 TO
99

A.
A.
A.

8.
8.
8.

9.
8.
9.

9.
9.
8.

13 .
1A.
17 .

13 .
16.
18.

11 .
12.
11.

32.
3A.
A2.

5.
5.
5.
6.
A.

10.
11.
1A.
12.
12.

8.
8.
8.
9.
9.

10.
9.
10.
9.
8.

18.
18 .
19 .
18 .
18.

2A.
25.
31.
3A.
29.

12.
13 .
22.
19.
16.

A8.
A8.
A6.
51.
A9.

100
AND
OVER

LARGE

OTHER

AMOUNT OF LOANS MADE DURING FIRST FULL WEEK OF SECOND MONTH OF QUARTER (SEASONALLY--ADJUSTED ANNUAL RATE)

1 9 7 9 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q A ..........

51 .
50.
51.
59 .

19.
1A.
1A.
19 .

5.
6.
6.
3.

15.
19.
19.
23.

3.
5.
A.
A.

11.
6.
8.
8.

8.
9.
8.
9.

9.
8.
8.
9.

16 .
16 .
17.
20.

18.
15.
18.
22.

1A.
11.
9.
11 .

37.
AO.
Al.
A7 .

1 9 8 0 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q A ..........

61 .
56 .
60.
6A.

19 .
21.
13 .
13 .

7.
3.
6.
3.

2A.
20.
22.
32.

5.
3.
6.
6.

7.
10.
12.
12.

8.
7.
8.
10.

10 .
8.
11 .
11 .

21.
15 .
19.
18.

22.
2A.
22.
26.

11.
13.
11.
13.

A9 .
A6 .
A8.
50.

1 9 8 1 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q A ..........

58.
65.
58 .
62.

11.
16.
17 .
9.

A.
6.
A.
A.

27.
29.
26 .
28.

A.
5.
5.
A.

11 .
9.
6.
19.

8.
9.
8.
8.

9.
11 .
9.
9.

18 .
20.
17 .
17.

23.
25.
2A.
29.

10.
12.
15.
15.

A7 .
57 .
A2.
A6 .

1 9 8 2 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q A ..........

68.
55 .
78.
72.

13.
10 .
15.
16 .

A.
A.
5.
7.

32.
2A.
31.
29.

6.
5.
A.
6.

12.
12.
20.
12 .

8.
8.
8.
9.

9.
10.
10.
11.

18.
17.
18.
22.

33.
20.
A3.
32.

22.
18.
26.
22.

AA.
Al.
A9.
A9.

1 9 8 3 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q A ..........

67.
77 .
60.
7A.

10.
12 .
13.
1A.

6.
5.
A.
7.

31 .
36.
32.
33.

1A.
16 .
6.
10 .

9.
9.
9.
8.

10 .
9.
10.
8.

16.
20.
19.
17.

31.
36.
23.
A3.

11.
30.
13.
20.

5A.
52.
A6 .
53.

1 9 8 A - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q A ..........

72.
67.
6 A.
55.

17 .
11.
6.
8.

6.
6.
10.
5.

32.
33.
30.
26.

5.
A.
7.
A.

12.
13.
13 .
13.

9.
9.
10.
9.

9.
8.
8.
8.

20.
18.
18.
18.

3A.
32.
27.
21.

20.
16.
1A.
12.

A9.
55.
A9.
A2.

1 9 8 5 - Q 1 ..........
- Q 2 ..........

63.
59.

12.
1A.

5.
9.

25.
2A.

6.
A.

1A.
10.

7.
8.

8.
9.

15.
17.

32.
25.

13.
17.

A7 .
A5.

>

A.
8.
5.
7.

•

* LOANS UNDER $ 1 , 0 0 0 ARE NOT INCLUDED IN THE SURVEY.
MOST "LARGE" BANKS (SURVEY STRATA 1 TO 3 )




NOW HAVE ASSETS OVER $500 MILLION,

AND MOST "OTHER" BANKS HAVE LOWER TOTAL ASSETS

35

36
ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 622
NUMBER OF LOANS MADE (THOUSANDS)*

FEEDER
LIVESTOCK
622.1

OTHER
LIVESTOCK

OTHER
CURRENT
OPERATING
EXPENSES

SIZE OF BANK

SIZE OF LOAN
(THOUSANDS OF DOLLARS)

PURPOSE OF LOAN

------------------- 1
1
PERIOD
ALL LOANS

FARM
MACHINERY
AND
EQUIPMENT

OTHER

1 TO
9

10 TO
29

25 TO
99

100
AND
OVER

LARGE

OTHER

ANNUAL NUMBER OF LOANS MADE

1 9 7 7 ..................
1 9 7 8 ..................
1 9 7 9 ..................

3928.
3396 .
3918.

935.
602.
520.

397.
316.
308.

1629.
1596.
1795.

503.
930.
929.

956.
389.
912.

2522.
2357.
2372.

575.
598.
591.

286.
328.
371.

95.
69.
83.

188.
1 9 9.
181.

3291.
3152.
3237.

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

3901.
3386.
3339.
3988.
3575.

999.
389.
325.
369.
333.

291.
26 0.
271.
31 9 .
282.

1756 .
2012.
2079.
2066.
2192.

951 .
38 1 .
306 .
396.
359.

3 9 9.
337.
353.
333.
362.

2227 .
2228.
2199.
2353.
2997.

663.
695.
693.
628.
561 .

912.
913.
902.
393.
918.

99.
99.
96 .
1 1 9.
99.

1 8 0.
17 5 .
222.
203.
179.

3222.
3211.
3117.
3285.
3395.

622.2

NUMBER OF LOANS MADE DURING FIRST FULL WEEK OF SECOND MONTH OF QUARTER (SEASONALLY--ADJUSTED ANNUAL RATE)

1 9 7 9 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

3329.
3521.
3311 .
3972.

599.
582.
939.
959.

317.
310.
325.
277.

1501.
1795.
1702.
1989.

393.
928.
973.
930.

500.
361.
391.
380.

2299.
2957.
2292.
2910.

608.
571.
597.
627.

350.
352.
363.
917.

66.
72.
99.
1 0 1.

180.
185.
181.
175.

3139.
3325.
3135.
3319.

1 9 8 0 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

3939.
3039.
3395.
3762.

539.
963.
503.
987.

339.
290.
297.
299.

1729.
1627 .
1768.
1956.

930.
373.
371.
589.

375.
298.
963.
939.

2220.
2018.
2088.
2618.

663.
519.
797.
707.

952.
359.
930.
917.

97.
93.
1 0 6.
1 0 9.

17 8 .
162.
18 8 .
195.

3295.
2867.
3215.
3585.

1 9 8 1 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

3293.
3633.
3215.
3397.

369.
967.
381 .
393.

239.
289.
220.
283.

2067.
2095.
1952.
1978.

299.
973.
392.
358.

332.
307.
285.
929.

2150.
2289.
2157.
2302.

631.
722.
615.
599.

921.
999.
373.
900.

93.
11 5 .
67.
1 1 3.

185.
16 3 .
166.
186.

3095.
3959.
3057.
3178.

1 9 8 2 - Q 1 ..........
- Q 2 ..........
” Q 3 ..........
- Q 9 ..........

3172.
3287 .
3362.
3539.

310.
255.
39 0 .
371.

19 2 .
250.
312.
329.

2100.
2009.
2092.
2219.

298.
327 .
293.
300.

275.
379.
,387.
379.

2091.
2106 .
2189.
2269.

629.
681.
688.
762.

902.
370.
382.
950.

101.
82.
121 .
92.

211.
226.
229.
227.

2996.
3051.
3199.
3332.

1 9 8 3 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

3671 .
3671.
3998.
3101.

327.
381.
363.
389.

399.
309.
261.
397.

2195.
2153.
2258.
1692.

369.
915.
379.
913.

950.
383.
269.
220.

2986.
2983.
2338.
2076.

689.
626.
672.
598.

369.
919.
913.
379.

1 3 2.
106.
78.
13 9 .

177.
239.
223.
17 0 .

3978.
3929.
32 82.
2997.

1 9 8 9 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

3562.
3526.
37 88.
3952.

911.
357.
328.
279.

325.
276.
312.
230.

2209.
2173.
2919.
1992.

313.
283.
996.
370.

287.
378.
279.
508.

2370.
2923.
2708.
2993.

632.
539.
519.
561.

959.
918.
925.
373.

93.
129.
105.
73.

192.
176.
179.
176.

3353.
3399.
3620.
3293.

1 9 8 5 - Q 1 ..........
- Q 2 ..........

3130.
3301.

278.
939.

281.
289.

1797.
2008.

397.
316.

398.
229.

2159.
2190.

522.
621.

396.
368.

10 9 .
10 7 .

167.
166.

2998.
3131.

* LOANS UNDER $ 1 , 0 0 0 ARE NOT INCLUDED IN THE SURVEY.




ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 623
AVERAGE SIZE OF LOANS MADE (THOUSANDS OF DOLLARS)*
SIZE OF T oan
(THOUSANDS OF DOLLARS)

PURPOSE OF LOAN
PERIOD

ALL LOANS
FEEDER
LIVESTOCK
623.1

OTHER
LIVESTOCK

OTHER
CURRENT
OPERATING
EXPENSES

FARM
MACHINERY
AND
EQUIPMENT

OTHER

1 TO
9

10 TO
24

I

25 TO
99

100
AND
OVER

SIZE OF BANK
LARGE

OTHER

ANNUAL AVERAGE SIZE OF LOANS MADE

1977 ..................
1 9 7 8 ..................
1 9 7 9 ..................

13.
14.
15.

22.
22.
32.

13 .
12.
16 .

10.
11.
11.

9.
10.
10.

18 .
20.
19 .

4.
4.
4.

15 .
15 .
14 .

44.
41.
47 .

297 .
246.
220.

61.
63.
61.

10.
11.
13.

1 9 8 0 ..................
1 9 8 1 ..................
1 9 8 2 ..................
1 9 8 3 ..................
1 9 8 4 ..................

18.
18.
20.
20.
18.

32.
33.
42.
33.
31.

16.
17 .
20.
18.
22.

14 .
14 .
14.
16.
14.

11 .
12.
18.
15.
12.

26.
34.
38.
36 .
34.

4.
4.
4.
4.
4.

15.
15 .
15 .
15.
15.

44.
44.
46 .
46.
44.

239.
255.
320.
295.
289.

66.
73.
98.
92.
88.

15.
15 .
15.
16.
14.

623.2

AVERAGE SIZE OF LOANS MADE DURING FIRST FULL WEEK OF SECOND MONTH OF QUARTER

1 9 7 9 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 4 ..........

15.
14 .
14 .
18 .

28.
25.
32.
45.

13.
19.
17 .
13.

11 .
10.
10.
12 .

9.
13.
8.
9.

20.
19.
16 .
22.

4.
4.
4.
4.

14.
15.
14.
14.

46.
46.
45.
49.

254.
238.
187 .
209.

77 .
60.
44.
65.

12.
12.
12 .
16 .

1 9 8 0 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 4 ..........

18.
19 .
16 .
18 .

32.
45.
26.
28.

18.
13.
18.
13.

15.
12 .
12.
16.

12 .
9.
13.
10.

16.
42.
22.
27 .

4.
4.
4.
4.

15 .
15.
14.
15.

45.
42.
43.
45.

212.
296.
210.
234.

64.
76.
53.
71.

15.
15.
14.
15 .

1 9 8 1 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
~ Q 4 ..........

18.
18.
16 .
20.

29.
34.
43.
27 .

14.
21.
17 .
15.

14.
14.
12 .
14 .

15 .
13.
10.
11.

33.
34 .
18.
45.

4.
4.
4.
4.

15.
15.
15 .
14 .

43.
44.
45.
43.

224.
238.
383.
246.

55.
68.
86 .
85.

16 .
16 .
12 .
16.

1 9 8 2 - Q 1 ..........
••32.------ Q 3 ..........
- Q 4 ..........

22.
17 .
20.
22.

43.
38.
41.
44.

19 .
17 .
15 .
26.

17 .
12.
14 .
13.

18.
17.
10.
22.

45.
35 .
43.
32 .

4.
4.
4.
4. ‘

15 .
14 .
14 .
15.

46.
46.
45.
48.

296.
263.
398.
333.

111.
72.
111.
103.

15.
13 .
14 .
16.

1 9 G3 - Q1 . . . .
- Q 2 ..........
- Q 3 ..........
- Q 4 ..........

19.
21.
15.
25.

31.
29.
33.
38.

15.
14 .
15 .
27.

16 .
17.
13.
19.

10.
21.
11 .
17.

32.
47.
20.
44.

4.
4.
4.
4.

15.
15.
15.
15.

45.
48.
45.
47.

212.
359.
340.
304.

71.
117.
56.
121.

16.
15 .
12.
20.

1 9 8 4 - Q 1 ..........
- Q 2 ..........
- C 3 ..........
- C 4 ..........

21.
19.
15.
17.

45.
29.
18 .
31.

15.
21.
29.
27.

16 .
16.
11 .
12 .

13.
15.
11.
11.

44.
38.
40.
23.

4.
4.
4.
4.

14.
15.
15.
15.

44.
42.
42.
47 .

327.
262.
304.
279.

12 0 .
83.
77.
69.

15.
16.
12.
14.

1 9 8 5 - Q 1 ..........
- Q 2 ..........

21.
18 .

48.
29.

15.
28.

16 .
12.

12.
16 .

43.
49.

3.
4.

14.
15.

46.
45.

275.
235.

92.
93.

17.
14 .

x LOANS UNDER $ 1 , 0 0 0 ARE NOT INCLUDED IN THE SURVEY.




37

38
ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 62A
AVERAGE MATURITY OF LOANS MADE (MONTHS)*
PURPOSE OF LOAN
PERIOD

ALL LOANS
FEEDER
LIVESTOCK

!
_________________1
1
629.1

OTHER
LIVESTOCK

OTHER
CURRENT
OPERATING
EXPENSES

FARM
MACHINERY
AND
EQUIPMENT

OTHER

SIZE OF LOAN
_______(THOUSANDS OF DOLLARS)________
100
AND
25 TO
1 TO
10 TO
OVER
99
9
29

SIZE OF BANK
LARGE

OTHER

ANNUAL AVERAGE MATURITY OF LOANS MADE

1977 ..................
1 9 7 8 ..................
1 9 7 9 ..................

9.
8.
7.

6.
6.
6.

10.
6.
7.

6.
7.
6.

19 .
18.
19.

13.
10 .
9.

8.
8.
8.

9.
9.
8.

11.
9.
8.

7.
8.
6.

6.
7.
5.

10.
9.
8.

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

7.
6.
6.
9.
8.

6.
6.
5.
5.
5.

7.
6.
7.
8.
7.

7.
6.
7.
10 .
8.

19.
11 .
8.
11.
13.

7.
5.
5.
8.
8.

7.
6.
6.
7.
7.

7.
6.
7.
8.
7.

7.
6.
6.
8.
8.

8.
6.
6.
10.
8.

7.
5.
6.
6.
7.

7.
6.
7.
10.
8.

629.2

AVERAGE MATURITY OF LOANS1 MADE DURING FIRST FULL WEEK OF SECOND MONTH OF QUARTER

1 9 7 9 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

8.
8.
6.
7.

7.
6.
5.
6.

8.
6.
6.
7.

7.
6.
5.
6.

18.
12.
19.
19.

7.
19.
7.
9.

8.
8.
7.
7.

11 .
8.
7.
7.

8.
9.
7.
7.

5.
5.
9.
6.

5.
5.
5.
6.

9.
8.
7.
7.

1 9 8 0 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

7.
7.
8.
7.

7.
5.
8.
6.

7.
7.
8.
8.

7.
6.
5.
8.

13.
13 .
23.
10 .

6.
7.
8.
6.

8.
6.
6.
7.

8.
6.
7.
7.

7.
6.
9.
6.

7.
7.
8.
8.

6.
8.
6.
6.

8.
6.
8.
7.

1 9 8 1 - Q 1 ..........
- Q ? ..........
- Q 3 ..........
- Q 9 ..........

6.
7.
5.
6.

7.
5.
9.
6.

5.
8.
5.
6.

6.
6.
9.
5.

11.
13 .
12.
7.

9.
6.
9.
5.

6.
7.
6.
6.

6.
6.
5.
7.

6.
6.
6.
6.

6.
7.
9.
5.

6.
7.
9.
5.

6.
7.
5.
6.

1 9 8 2 - Q 1 ..........
-Q2. . . . .
- Q 3 ..........
- Q 9 ..........

7.
8.
5.
6.

9.
5.
7.
5.

8.
10.
9.
6.

8.
9.
5.
6.

9.
7.
8.
9.

5.
7.
9.
6.

6.
7.
6.
5.

8.
6.
6.
7.

7.
6.
6.
6.

7.
9.
5.
5.

6.
9.
5.
9.

8.
7.
6.
6.

1 9 8 3 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

10.
11 .
7.
7.

5.
5.
7.
5.

12.
6.
7.
7.

11.
19.
6.
7.

19.
10 .
16 .
8.

7.
6.
11 .
10.

8.
7.
7.
6.

9.
9.
6.
8.

9.
8.
7.
7.

11.
13 .
8.
7.

7.
7.
7.
9.

10.
13 .
7.
8.

19 8 9 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

9.
8.
7.
6.

9.
5.
6.
5.

9.
6.
9.
8.

8.
8.
8.
6.

19.
13.
9.
10.

12.
9.
5.
6.

9.
7.
6.
6.

10 .
7.
6.
6.

9.
8.
6.
7.

8.
9.
8.
6.

5.
7.
12.
5.

10.
9.
5.
7.

1 9 8 5 - Q i ..........
- Q 2 ..........

7.
9.

6.
7.

6.
10.

7.
8.

9.
16 .

6.
9.

6.
7.

8.
8.

10 .
8.

5.
9.

5.
5.

7.
10 .

* AVERAGE MATURITY OF NONDEMAND LOANS, WITH EACH LOAN WEIGHTED BY ITS DOLLAR AMOUNT.




ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 625
AVERAGE EFFECTIVE INTEREST RATE ON LOANS MADE (PERCENT)*
PURPOSE OF LOAN
PERIOD

ALL LOANS
FEEDER
LIVESTOCK
625.1

OTHER
LIVESTOCK

OTHER
CURRENT
OPERATING
EXPENSES

SIZE OF BANK

SIZE OF LOAN
(THOUSANDS OF DOLLARS)

FARM
MACHINERY
AND
EQUIPMENT

OTHER

1 TO
9

10 TO
29

25 TO
99

100
AND
OVER

LARGE

OTHER

ANNUAL AVERAGE EFFECTIVE INTEREST RATE ON LOANS MADE

1977 ..................
1 9 7 8 ..................
1 9 7 9 ..................

8.8
9.6
11.9

8.6
9.7
12.1

8.7
9.8
11.7

8.9
9.5
11.8

9.2
9.6
11.2

8.9
9.7
12.1

9.1
9.9
11.1

8.9
9.9
11.9

8.8
9.5
11.5

8.6
9.9
12.8

8.5
10.2
13.6

9.0
9.9
11.9

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

15.2
18.5
16.7
13.6
19.2

15.6
18.6
15.9
13.6
13.7

19.6
18.9
16.2
13.8
19.3

15.3
18.9
17.0
13.6
19.3

19.9
17.9
17.1
19.3
19.6

15.3
18.6
16.9
12.9
19.0

19.7
18.0
17.1
19.3
19.7

19.7
18.2
16.8
19.1
19.9

19.9
18.2
17.0
19.0
19.9

15.9
18.9
16.9
13.0
13.8

16.2
19.8
16.1
12.1
13.1

15.0
18.1
17.0
19.1
19.5

12.5
12.8
12.9
16.2

10.9
10.7
10.9
13.1

625.2

AVERAGE EFFECTIVE INTEREST RATE ON LOANS MADE DURING FIRST FULL WEEK OF SECOND MONTH OF QUARTER

1 9 7 9 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

11.0
11.2
11.3
13.6

11.1
11.2
11.2
13.5

11.2
11.7
11.1
12.9

10.9
11.2
11.9
13.6

10.3
10.6
10.9
13.2

11.2
11.1
11.5
19.6

10.3
10.6
10.9
12.9

10.9
10.7
11.1
13.2

10.5
10.8
11.0
13.2

12.1
12.2
11.8
19.5

1 9 8 0 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

19.1
17.9
13.5
15.5

19.9
17.7
13.9
15.5

13.5
16.6
13.7
15.3

19.3
17.5
13.7
15.9

13.0
16.9
13.3
15.1

19.6
17.2
13.3
15.7

13.5
16.5
13.5
15.1

13.6
17.0
13.9
15.0

13.7
17.2
13.6
15.9

15.0
17.8
13.5
15.8

16.0
18.5
12.8
16.3

13.7
17.1
13.7
15.3

1 9 8 I - Q 1 ..........
~Q2..........
- Q 3 ..........
- Q 9 ..........

17.9
17.9
19.6
18.8

17.8
18.9
19.6
18.5

17.9
18.0
19.9
18.7

17.9
17.7
19.5
18.9

17.9
17.6
18.9
18.1

18.3
17.7
20.1
18.9

17.9
17.5
18.8
18.5

17.7
17.6
19.1
18.8

17.7
17.7
19.3
18.5

18.9
18.2
20.3
19.0

19.9
19.5
20.8
18.9

17.5
17.5
19.1
18.7

1 9 8 2 - Q l ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

17.7
17.8
16.8
19.8

17.6
17.8
16.8
13.9

17.9
17.5
15.6
15.5

17.7
17.7
16.9
15.3

17.9
18.2
17.3
15.7

17.9
17.9
16.9
19.5

17.7
17.6
17.5
15.6

17.3
17.6
17.3
15.9

17.7
17.8
17.6
15.5

17.8
17.8
16.2
19.0

18.0
17.9
15.6
13.3

17.5
17.7
17.5
15.5

1 9 8 3 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

13.8
13.3
13.7
13.6

13.8
13.9
13.0
19.0

19.2
13.0
19.1
13.9

19.1
13.2
13.9
13.9

19.1
19.8
19.3
13.9

13.1
12.6
13.2
12.9

19.9
19.0
19.3
19.3

19.5
13.8
19.0
19.3

19.1
19.0
19.0
13.9

13.3
12.6
13.1
13.2

12.5
12.0
12.2
11.8

19.2
13.9
19.2
19.2

1 9 8 9 - Q 1 ..........
- Q 2 ..........
- Q 3 ----------- Q 9 ..........

13.5
19.3
19.9
19.3

12.7
19.5
19.6
13.9

13.6
13.9
15.2
19.1

13.8
19.3
15.0
19.5

13.9
15.0
15.0
19.5

13.5
13.9
19.9
19.3

19.1
19.6
15.1
19.7

19.2
19.3
19.7
19.5

19.0
19.3
15.0
19.9

12.9
19.1
19.7
13.9

12.2
13.3
19.9
13.9

19.1
19.5
15.0
19.5

1 9 8 5 - Q 1 ..........
- Q 2 ..........

13.5
13.1

13.8
12.9

13.6
12.9

19.0
13.5

13.9
19.1

12.9
12.0

19.1
19.0

13.8
13.3

13.8
13.6

13.1
12.9

11.7
11.5

19.1
13.6

|
|
|

* THE APPROXIMATE COMPOUNDED ANNUAL INTEREST RATE ON EACH LOAN IS CALCULATED FROM SURVEY DATA ON THE STATED RATE AND OTHER TERMS
OF THE LOAN.
IN COMPUTING THE AVERAGE OF THESE ESTIMATED EFFECTIVE RATES, EACH LOAN IS WEIGHTED BY ITS DOLLAR AMOUNT.




39

40
ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 626
PERCENTAGE OF LOANS MADE WITH A FLOATING INTEREST RATE*
PURPOSE OF LOAN
PERIOD

| ALL LOA NS |
FEEDER
LIVESTOCK
626.1

OTHER
LIVESTOCK

OTHER
CURRENT
OPERATING
EXPENSES

SIZE OF LOAN
(THOUSANDS OF DOLLARS)

FARM
MACHINERY
AND
EQUIPMENT

OTHER

17.
17 .
17 .

28.
19.
17 .

19.
20.
17 .

12.
19 .
16.

6.
2.
7.

23.
28.
29.

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

22 .
29.
39.
92.
39.

20.
33.
98.
97 .
92.

18.
22.
32.
29.
33.

21 .
31 .
93.
96 .
92.

11 .
15.
15 .
18.
29.

33.
28.
31 .
93.
39.

197 9 - Q 1 ..........
- Q 2 ..........
- Q 3 .......... !
- Q 9 ..........

19.
19.
13.
16 .

1 9 8 0 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

17 .
27 .
21 .
22.

1 9 8 1 - Q 1 ..........
- Q 2 ..........
- Q 3 .......... 1
- Q 9 .......... 1

29.
23.
36 .
31 .

1 9 8 2 - Q 1 .......... I
- Q 2 .......... 1
- Q 3 ..........
- Q 9 ..........

100
AND
OVER

1 TO
9

10 TO
29

25 TO
99

2.
2.
3.

9.
3.
6.

7.
8.
10.

95.
92.
35.

60.
62.
66 .

2.
1.
3.

7.
15.
29.
26 .
29.

12 .
18.
25.
30.
30.

13.
22.
29.
39.
29.

37 .
93.
59.
59.
53.

75.
80.
66 .
78.
71.

8.
16.
26.
29.
29.

LARGE

OTHER

ANNUAL PERCENTAGE OF LOANS MADE WITH A FLOATING INTEREST RATE

1977 ..................
1 9 7 8 ..................
1 9 7 9 ..................

626.2

i1
I1
11
J1

SIZE OF BANK

1

PERCENTAGE OF LOANS MADE WITH A FLOATING INTEREST RATE DURING FIRST FULL WEEK OF SECOND MONTH OF QUARTER
23.
22.
13.
12.

22.
17 .
13.
17 .

13.
19 .
13.
17 .

9.
15 .
2.
3.

29.
22.
15.
31 .

9.
9.
2.
2.

3.
7.
5.
9.

10.
9.
7.
12 .

91 .
95.
27 .
27 .

61.
71 .
66 .
68.

3.
9.
1.
5.

16 .
20 .
19.
23.

9.
16 .
23.
26 .

19.
30.
16 .
19.

9.
15.
11.
16 .

29.
39.
39.
27 .

9.
7.
7.
9.

5.
21.
9.
19.

6.
18 .
13 .
16.

36 .
39.
90.
39.

68.
80.
75.
79.

5.
12.
8.
9.

36.
30.
33 .
35.

19.
16 .
23.
31 .

33.
20.
90.
38.

13.
12.
21.
16 .

23.
30.
92.
27 .

11.
19 .
18.
19.

19.
13.
22.
25 .

23.
15.
29.
26.

96.
39.
56.
91 .

89.
80.
86 .
72.

17.
11 .
16.
20.

97 .
38.
37 .
39.

92 .
97 .
63.
99 .

53.
25 .
22 .
32.

55.
93.
31 .
90.

31.
13 .
22.
5.

39.
37 .
23.
27.

23.
26.
27.
21.

26.
29.
29 .
23 .

35.
29.
36.
20.

65.
56.
92.
53.

71.
79.
59.
65.

35.
23.
27.
22.

1 9 8 3 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

93.
53.
90.
29.

57 .
53.
69.
29.

26 .
30.
23.
31.

53.
61.
33.
25.

29.
23.
29.
8.

22.
56.
99.
97 .

23.
29.
27.
29.

31 .
31 .
36 .
21.

39.
91.
31 .
26.

57.
70.
56.
33.

81.
83.
85.
62.

39 .
37.
26.
18.

1 9 8 9 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

90.
99.
33.
37 .

95.
28.
62.
93.

22.
98.
8.
55 .

35.
59.
39 .
39 .

95.
31.
12.
13.

51.
33.
96.
27.

23.
27 .
22.
29.

32.
39.
37.
21.

32.
27.
27.
30 .

50.
60.
91.
57.

59.
80.
72.
79.

31.
39.
21.
27.

1 9 8 5 - Q 1 ..........
- Q 2 ..........

39 .
96 .

39.
60.

20.
59.

39.
39.

29.
29.

97.
52.

23.
32.

26.
26.

35.
93.

97.
59.

90.
79.

23.
36.

I
1
i11
i

!

* PERCENTAGE OF AMOUNT OF LOANS MADE.
A FLOATING RATE IS TIED TO SOME OTHER RATE (SUCH AS THE PRIME RATE OR A MARKET INTEREST
RATE), AND NEITHER THE BANK NOR THE BORROWER KNOWS THE EXACT RATE OF INTEREST TO BE CHARGED OVER THE LIFE OF THE LOAN.




FARM CREDIT CONDITIONS AT COMMERCIAL BANKS
631
632
633
634
635

Non-real-estate lending experience
Expected change in non-real-estate loan volume and
repayment conditions
Average loan/deposit ratio, and other indicators
of relative credit availability
Interest rates
Farm real estate values and loan volume

Data are from quarterly surveys of agricultural credit conditions at commercial banks conducted
at the end of each quarter by five Federal Reserve Banks* Each of these banks issues a more
detailed quarterly report on its survey results, available from its Research Department at the
address given below. The five surveys differ in subject matter covered (as is evident in the
tables), wording of basically similar questions, and type of banks covered. Most of the
differences in wording are reflected in the use of different column headings on each of the two
pages of each table. Important differences in the type of banks surveyed are noted below.
Federal Reserve Bank of Chicago, Box 834, Chicago, Illinois 60690
Before 1973, the sample included member banks at which farm loans represented 10 percent or
more of total loans as of 1968. In 1973, the sample was broadened to include nonmeraber banks at
which farm loans represented 25 percent or more of total loans as of June 1972 (10 percent in
Michigan), which increased the sample to over 1,000 banks.
Federal Reserve Bank of Kansas City, Federal Reserve P.0. Station, Kansas City, Missouri 64198
The sample chosen in 1976 consisted of 188 banks selected from among banks at which farm loans
constituted 50 percent or more of total loans, with appropriate representation of all farm areas.
Federal Reserve Bank of Minneapolis, Minneapolis, Minnesota 55480
The sample provides a cross-section of banks of all sizes that are engaged in farm lending.
Members of the Upper Midwest Agricultural Credit Council form the core of the survey panel.
Federal Reserve Bank of Dallas, Station K, Dallas, Texas 75222.
A new regionally-stratified sample drawn in July 1982 includes 299 banks at which farm loans
are relatively important or which hold a major portion of bank farm loans in their region.
Important: The survey sample for 1985-Q1 was substantially enlarged, and thus the most recent
data are not completely comparable with data for earlier quarters.
Federal Reserve Bank of Richmond, Richmond, Virginia 23261
The sample selected in 1975 consisted of 43 banks of all sizes*
of farm loans were sampled more heavily.




Banks with the larger amounts

42
FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
FARM NON-REAL-ESTATE LENDING EXPERIENCE, COMPARED WITH A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
DEMAND FOR LOANS

LOAN REPAYMENT RATE

FUND AVAILABILITY

RENEWALS OR EXTENSIONS

COLLATERAL REQUIRED

QUARTER
HIGHER

LOWER

SAME

LOWER

HIGHER

LOWER

SAME

631.1

SEVENTH (CHICAGO) FEDERAL RESERVE DISTRICT

1

(

SAME
IL*,

HIGHER

I N*,

10,

1i
_iL

LOWER

SAME

HIGHER

LOWER

MI*,

WI* )

AGRICULTURAL BANKS

SAME

HIGHER

49.
41.
42.
32.

33.
33 .
35 .
36.

18 .
26.
23 .
32.

2.
1.
4.
4.

37.
40.
37 .
39 .

60.
58.
60.
57.

42.
31.
34 .
36 .

50.
60.
55 .
50 .

8.
9.
12.
14.

6.
9.
10 .
10 .

44.
53.
52.
51.

50.
38.
38.
39.

0.
1.
0.
0.

48.
55.
58.
52.

52.
44.
42.
48.

1984-Q1.
-Q2.
-Q3.
-Q4.

15.
16 .
20.
29.

39.
31.
39.
39.

46.
53.
40.
32.

7.
10.
12.
11.

52.
52.
54.
55.

41 .
38.
34.
35.

47 .
43.
46.
59.

43.
51 .
49.
33.

10.
6.
5.
8.

8.
5.
6.
8.

38.
50.
48.
32.

54.
45.
45.
60.

0.
1.
1.
0.

43.
44.
39.
34.

57.
56 .
60.
65.

1985-Q1.

26 .

41.

33.

11.

58.

31 .

57 .

38 .

4.

5.

37 .

58.

0.

30.

70.

1983-Q1.
-Q2.
-Q3.
-Q4.

631.2
1983-Q1.
-Q2.
- Q3.
-Q4.
1984-Q1.
~Q2.
-Q3.
-Q4.

t#

1985-Q1.

TENTH (KANSAS CITY)

( CO,

FEDERAL RESERVE DISTRICT

KS,

MO*,

NE,

NM*,

OK*,

WY )

AGRICULTURAL BANKS

35.
30.
31.
24.

44.
47 .
51.
52.

20 .
22.
19.
24.

9.
13.
13.
10.

49.
46 .
49.
53.

42.
41 .
38.
36.

45.
36.
40.
48.

49.
56.
51.
45.

6.
7.
9.
7.

3.
3.
5.
7.

49.
56.
53.
45.

47.
41.
43.
48.

1.
0.
1.
0.

47.
53.
50.
52.

53 .
47.
49.
48.

18.
20.
23.
26 .

58.
51.
54.
54.

25.
28.
23.
19.

15.
14.
19.
10.

53 .
58 .
56.
54.

31.
29.
25.
36.

52.
53.
54.
55.

43.
44.
43.
40.

5.
3.
3.
5.

3.
3.
4.
2.

50.
43.
46.
42.

47.
54.
51.
56.

0.
1.
1.
0.

48.
39.
40.
29.

52 .
60.
60.
71 .

24.

50.

26.

8.

60.

54.

42.

4.

4.
.......... !

42.

54.

1.

28.

72.

631.4

ELEVENTH (DALLAS)

1
!

31 ‘

FEDERAL RESERVE DISTRICT

( LA*,

NM*,

OK*,

TX )

36.
42.
32.
25.

46.
37 .
46.
49.

18.
21.
22.
25.

8.
13 .
12.
6.

47.
37 .
45.
54.

45.
50 .
43 .
39 .

49.
36.
32.
31.

44.
50.
55.
54.

7.
14.
13.
15.

7.
16 .
11.
15.

40.
47.
49.
47 .

52.
36 .
40.
39.

1.
8.
1.
1.

40.
43.
51.
54.

59.
49.
48.
45.

1984-Q1.
” Q2.
-Q3.
-Q4.

15.
26.
19.
20.

50.
39 .
43.
44.

35.
35.
38.
36.

8.
12 .
14.
10.

57.
56.
56.
57.

35 .
32 .
30 .
33.

26.
30.
32.
43.

57.
58.
61.
51.

17.
13.
8.
7.

15.
13.
10.
8.

60.
52.
54.
48.

26.
35.
37.
44.

0.
1.

1.
1.

53.
49.
48.
43.

47.
50.
52.
56.

1985-Q1.

27.

47.

26.

11.

51.

38 .

43.

53.

5.

5.

48.

47.

0.

43.

57.

1983-Q1.
-Q2.
-Q3.
- Q4.

.




TABLE 631 (CONTINUED)
FARM NON-REAL-ESTATE LENDING EXPERIENCE, COMPARED WITH NORMAL CONDITIONS
PERCENTAGE OF BANKS REPORTING
DEMAND FOR LOANS

FUND AVAILABILITY

QUARTER
LOWER

LOWER

SAME

HIGHER

631.3

NINTH (MINNEAPOLIS)

SAME

HIGHER

LOAN REPAYMENT RATE n
SAME

LOWER

FEDERAL RESERVE DISTRICT

( Mi x,

rRENEWALS

HIGHER
MN, MT,

LOWER
ND,

SD,

OR 1EXTENSIONS
SAME

COLLATERAL REQUIRED

HIGHER

LOWER

SAME

HIGHER

WIX )

1981-Q1...
~Q2. . .
-Q3. . .
-Q4. . .

33.
31.
35.
31.

57.
55.
60.
54.

10.
13 .
5.
14.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

44.
43.
49.
77.

53.
55.
49.
22.

4.
2.
3.
1.

7.
6.
4.
3.

56.
53.
55.
24.

37 .
41.
42.
73.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

1982-Q 1...
-Q 2...
-Q3. . .
-Q4. . .

31.
17 .
23.
16.

52.
62.
62.
65.

17.
21.
15 .
18.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

86.
62.
62.
74.

13.
37.
37.
25.

2.
1.
1.
1.

3.
4.
1.
3.

20.
35.
38.
19 .

78.
61.
61.
78.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

1983-Q1. . .
-Q2. . .
-Q3. . .
-Q 4 ...

18 .
23.
25.
15.

68.
67 .
72.
70.

14.
9.
3.
14.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

59.
36.
32.
37.

41.
62.
65.
61.

0.
2.
3.
2.

1.
1.
2.
4.

36.
48.
64.
49.

63.
51.
34.
46.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

1984-Q1...
-Q 2. . .
-Q3. . .
-Q4. . .

11.
9.
23.
16.

70.
69.
63.
64.

19 .
22.
14.
20.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

54.
45.
50.
68.

46.
53.
46.
31.

0.
2.
4.
1.

2.
0.
3.
2.

44.
43.
45.
32.

53.
57.
52.
66.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

1985-Q1. . .

12.

58.

30.

XXX

XXX

XXX

60.

40.

0.

1.

32.

67.

XXX

XXX

XXX

631.5

FIFTH (RICHMOND) FEDERAL RESERVE DISTRICT

( MD,

NC,

SC,

VA,

WVX )

1981-Q1...
- Q 2 ...
-Q 3.. .
-Q 4 ...

47 .
58.
48 .
39.

33.
30.
48.
42.

20.
12.
3.
18.

3.
6.
0.
6.

63.
55.
58.
59.

33.
39.
42.
35.

37.
33.
26.
35.

63.
64.
65.
65.

0.
3.
10.
0.

0.
3.
10.,
0.

57.
64.
61.
62.

43.
33.
29.
38.

0.
0.
0.
0.

69.
73.
61.
50.

31.
27.
39.
50.

1982-Q1.. . i
- Q 2 ...
-Q3. . .
- Q 4 . ..

46.
47 .
48.
40.

46.
44.
45.
49.

9.
9.
7.
11.

3.
3.
0.
0.

60.
56.
48.
40.

37 .
41.
52.
60.

46.
35.
35.
34.

54.
65.
62.
63.

0.
0.
3.
3.

0.
3.
3.
0.

54.
65.
59.
57.

46.
32.
38.
43.

0.
6.
0.
0.

40.
38.
62.
57.

60.
56.
38 .
43.

XXX

XXX

XXX

XXX

XXX

30.

67.

XXX

XXX

33.

64.

XXX

XXX

XXX

6.

49.

XXX

XXX

XXX

XXX

55.

46.

39.
24.

52.
64.

10.
12.

0.
0.

42.
46.

58.
55.

36.
46.

, 61.
52.

3.
3.

7.
6.

58.
49.

36.
46.

0.
0.

65.
61.

36.
39.

1984-Q1. . .
- Q 2 . ..
- Q 3 . ..
-Q4. . .

21.
12.
13.
19 .

52.
70.
71.
71.

28.
19.
16.
10.

10.
3.
10.
10.

45.
61.
58.
68.

45.
36.
32.
23.

35.
18.
13.
19.

66.
79.
68.
81.

0.
3.
19.
0.

3.
3.
13.
3.

55.
70.
71.
71.

41.
27.
16.
26.

0.
6.
0.
0.

52.
55.
61.
52.

48.
39.
39.
48.

1985-Q1. . .

33.

47.

20.

0.

73.

27 .

27.

73.

0.

3.

67.

30.

3.

37.

60.

1983-Q1...
-Q2. ..
- Q 3 . ..
-Q4. . .

36.




55.

3.

9.

j

3.

46.

0.

XXX

43

44
FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 632
FARM NON-REAL-ESTATE LOAN VOLUME EXPECTED DURING THE NEXT QUARTER, COMPARED WITH VOLUME OF LOANS MADE A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
END OF
QUARTER

TOTAL

FEEDER CATTLE

LOWER SAME HIGHER

LOWER SAME HIGHER

632. 1

LOWER SAME HIGHER I LOWER SAME HIGHER

SEVENTH (CHICAGO) FEDERAL RESERVE DISTRICT

( IL*, INX, 10, Mix, WIX )

1983-Q1...
-Q2...
-Q3...
-Q4...

56.
38.
34.
17.

31.
43.
41.
42.

13.
19.
25.
41.

35.
37.
46.
29.

56.
58.
45.
61.

8.
5.
9.
10.

27.
28.
34.
38.

64.
65.
59.
58.

8.
7.
7.
4.

57.
52.
59.
40.

37.
40.
32.
53.

1984-Q1...
-Q2...
-Q3...
-Q4...

13.
17 .
22.
25.

34.
45.
49.
46.

53.
38.
30.
29.

31.
39.
34.
31.

55.
55.
55.
56.

13.
6.
11.
13.

33.
31.
31.
32.

57 .
64.
65.
61.

9.
5.
4.
7.

38.
36.
27.
36.

54.
53.
46.
48.

1?85-Q1...

30.

47.

23.

36.

57.

7.

29.

61.

10.

40.

53.

632. 4

ELEVENTH (DALLAS) FEDERAL RESERVE DISTRICT

OPERATING

FARM MACHINERY

LOWER SAME HIGHER

LOWER SAME HIGHER

CROP STORAGE

DAIRY

6.
7.
9.
7.

AGRICULTURAL BANKS
1
|
|
|
|
1
i
|

61.
50.
39.
27.

28.
34.
35.
43.

11.
16.
26.
30.

37.
43.
43.
55.

41.
43.
46.
37.

22.
14.
12.
8.

41..

1 65.

31.

5.

61.
42.
29.
8.

20.
35.
39.
32.

19.
23.
32.
60.

8.
11.
27.
16.

8.
9.
17.
17.

20.
35.
44.
37.

72.
57 .
39.
45.

7.

23.

36.

|
1
|
1

( LAX, NMX, OKX, TX )

1983-Q1...
~Q2...
-Q3...
-Q4...

26.
32.
26.
13.

54.
50.
50.
56.

19.
18.
23.
31.

20.
33.
32.
15.

57.
51.
47.
61.

22.
16.
21.
24.

21.
31.
25.
25.

69.
60.
68.
70.

9.
9.
7.
5.

28.
27.
26.
28.

56.
61.
57.
66 .

16.
12.
17.
6.

32.
31.
22.
9.

42.
41.
46.
51.

26.
28.
32.
40.

48.
42.
43.
25.

38.
43.
41.
57.

14.
16.
16.
18.

1984-Q1...
-Q2...
-Q3...
-Q4...

17.
16.
18.
23.

58.
56.
58.
54.

25.
28.
23.
23.

18.
21.
20.
17.

63.
54.
50.
54.

19.
25.
30.
29.

32.
31 .
26.
26.

61.
62.
70.
69.

8.
7.
4.
5.

24.
24.
15.
22.

69.
62.
63.
65.

7.
14.
23.
14.

7.
18.
14.
21.

55.
43.
51.
49.

38.
39.
35.
30.

27.
32.
30.
37.

59.
55.
54.
49.

14.
12.
16.
14.

1985-Q1...

26.

58.

16.

24.

53.

23.

32.

65.

3.

24.

63.

13.,

25.

41.

35.

42.

43.

15.

632. 5
1983-Q1...
“Q2...
-Q3...
-Q4...

30.

FIFTH (RICHMOND) FEDERAL RESERVE DISTRICT
55.
XXX

XXX

XXX

17.

72.
XXX

XXX

10.

21.

76.
XXX

XXX

XXX

50.

43.
XXX

XXX

XXX

21.

61.
XXX

XXX

XXX

XXX

XXX

21.
26 .

50.
42.

29.
32.

27.
25.

58.
61.

15.
14.

36.
24.

57.
66 .

7.
10.

33.
32.

47 .
52.

20.
16.

23.
15.

45.
46.

32.
39.

36 .
27.

52.
55.

13.
18.

1984-Q1...
-Q2...
-Q3...
-Q4...

21.
19.
20.
26 .

41.
63.
53.
52.

38.
19.
27.
23.

28.
31.
19.
17.

56.
58.
63.
71.

16..
12.
19.
13.

27.
36 .
21 .
25.

62.
61.
71.
75.

12.
4.
7.

0.

30.
16.
20.
33.

56.
72.
60.
57.

15.
13.
20.
10.

10.
12.
16.
23.

45.
67.
58.
55.

45.
21.
26.
23.

32.
25.
20.
43.

50.
56.
63.
47.

18.
19.
17.
10.

1985-Q1...

36 .

50.

14.

22.

70.

9.

22.

70.

7.

39.

54.

7.

35.

45.

21.

47 .

47.

7.

XXX




15.

( MD, NC, SC, VA, W V X )

XXX

3.

7.

18.

42.

42.

15.

TABLE 632 (CONTINUED)
EXPECTED FARM LOAN DEMAND AND REPAYMENT CONDITIONS
PERCENTAGE OF BANKS REPORTING
PROPORTION OF FARM
CUSTOMERS LOANED UP
TO THEIR PRACTICAL
DEBT LIMIT, COMPARED
NITH A YEAR EARLIER

EXPECTED DEMAND FOR FARM LOANS DURING NEXT QUARTER,
COMPARED WITH NORMAL DEMAND
END OF
QUARTER

SHORT-TERM
NON-REAL-ESTATE LOANS

INTERMEDIATE-TERM
NON-REAL-ESTATE LOANS

LONER _ SAME__ HIGHER
632.3

LONER

SAME

HIGHER

DEBT EXTENSION
OR REFINANCING
__ LONER_ SAME

HIGHER

1977-Q1...
-Q2.. .
-Q3. . .
-Q4...

7.
8.
3.
7.

46.
61.
56 .
59.

46.
31.
41.
34.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

1.
5.
0.
2.

39.
41.
34.
47.

60.
54.
66 .
51.

1978-Q1.. .
-Q2. ..
-Q3...
-Q4. ..

3.
4.
12.
3.

58.
69.
64.
77.

39.
27.
24.
20.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

2.
10.
20.
10.

64.
76 .
62.
76.

35.
14.
19.
14.

1979-Q1.. .
-Q2...
-Q3...
-Q4...

3.
3.
9.
17.

66.
63.
48.
54.

30.
34.
43.
30.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

8.
8.
10.
6.

76.
73.
43.
56.

1980-Q1...
-Q2...
-Q3. ..
-Q4...1

18.
27 .
21.
45.

45.
56.
67 .
46.

38.
16.
12.
9.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

9.
7.
16.
14.

1981-Q1. ..
-Q2. ..
-Q3...
-Q4. ..

11.
22.
27.
21.

73.
63.
57.
54.

16.
16.
17.
25.

36.
45.
51.
52.

59.
47.
42.
41.

4.
7.
7.
7.

1982-Q1...
-Q2...
-Q3...
-Q4...

13.
7.
19.
10.

60.
75.
59.
65.

27.
18.
21.
25.

52.
46.
43.
42.

37.
47.
47.
42.

1983-Q1...
-Q2...
-Q3. ..
-Q4.•.

25.
21.
22.
10.

63.
72.
71.
67.

13.
8.
8.
22.

36.
33.
26.
26.

1984-Q1.. .
-Q2...
-Q3. ..
-Q4. ..

6.
7.
16.
11.

71.
77.
65.
61.

23.
15.
19.
29.

1985-Q1. ..

10.

63.

27.




SAME

HIGHER

<: MIX, MN, MT, ND, SD, NIX )

NINTH (MINNEAPOLIS) FEDERAL RESERVE DISTRICT

I
I

LONER

ADVERSE CHANGE
EXPECTED IN
FARMERS' ABILITY
TO REPAY DEBT IN
THE NEXT QUARTER

49.
45.
47.
45.

51.
55.
52.
50.

66.
60.
58.
48.

7.
16.
23.
30.

61.
62.
62.
61.

31.
22.
15.
8.

33.
12.
20.
9.

17.
19.
47.
38.

28.
18.
8.
6.

60.
56.
63.
62.

13.
26.
28.
32.

15.
24.
34.
46.

38.
54.
63.
51.

53.
39.
21.
35.

3.
1.
5.
11.

40.
46.
69.
62.

57.
53.
26.
27.

83.
69.
29.
35.

7.
8.
4.
4.

60.
62.
43.
21.

33.
30.
53.
75.

63.
62.
60.
42.

32.
33.
34.
55.

37.
32.
58.
67.

11.
6.
10.
16.

4.
5.
3.
3.

26.
52.
32.
23.

70.
43.
65.
74.

4.
5.
6.
3.
i
2.
2.
2.
1.

37.
47.
52.
43.

62.
51.
46.
56.

55.
44.
61.
43.

56.
62.
65.
63.

8.
5.
9.
12.

4.
4.
3.
4.

43.
67.
59.
51.

53.
29.
38.
45.

2.
5.
5.
9.

51.
69.
67.
62.

47.
26.
28.
29.

23.
23.
37.
24.

23.
30.
34.
35.

63.
60.
50.
51.

14.
10.
16.
14.

1
5.
4.
3.

. 56.
50.
42.
30.

43.
45.
54.
67.

4.
1
3.
2.

.

63.
58.
56.
44.

33.
41.
41.
54.

31.
46.
50.
48.

26.

53.

21.

39.

60.

3.

46.

51.

44.

,

.

1

.

1
1

|
|
I
I

1.
1.
2.
6.

46
FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 633
AVERAGE LOAN/DEPOSIT RATIO,

QUARTER

AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT AVAILABILITY

NUMBER OF FARM LOAN REFERRALS TO—
EXPECT PROBLEMS
REFUSED OR
AVERAGE
REDUCED A ACTIVELY IN MEETING FARM
LOAN/DEPOSIT RATIO I S —
NONBANK AGENCIES
CORRESPONDENT BANKS
LOAN REQUESTS
LOAN/DEPOSIT
FARM LOAN SEEKING
DURING THE NEXT
NEW
RATIO
BECAUSE OF
COMPARED WITH
COMPARED WITH
QUARTER BECAUSE
AT END OF
FARM
LOWER
AT
HIGHER A SHORTAGE
NONE A YEAR EARLIER
OF A SHORTAGE NONE A YEAR EARLIER
QUARTER
LOAN
THAN
DESIRED
THAN
OF LOANABLE
OF FUNDS
(PERCENT)
ACCOUNTS
FUNDS
DESIRED
LEVEL
DESIRED
LOWER_SAME HIGHER
LOWER SAME HIOHgft
633.1

1983-Q1...
-Q2. . .
-Q3. . .
-Q4. . .

53.
5<*.
55.
54.

1984-Q1.. .
-Q 2.. .
-Q3. . .
-Q4. . .

54.
56.
57.
56.

1985-Q1. . .

56.
633.2

SEVENTH (CHICAGO)
^

|1
11

FEDERAL RESERVE DISTRICT

IL*,

I N* ,

10,
XXX

XXX

XXX

XXX
XXX

XXX

XXX

XXX

XXX

XXX

XXX
XXX

XXX
XXX

12.
14.
17.
19.

XXX
XXX
XXX
XXX

XXX

XXX

17 .

XXX

6.
6.
8.
8.

XXX

67.
64.
59.
56.

21 .
22.
24.
25.

55.

28.

MOX,

38.
37 .
43.
39.

7.
8.
9.
6.

51.
44.
39.
33.

1985-Q1. . .

58.

60.

8.

32.

9.

32.

1




LAX,

NE,

XXX

9.
11.
10.
11 .

1985-Q1. . .

XXX
XXX
XXX
XXX

XXX

XXX

XXX

XXX

XXX

XXX

53.
51.
47.
50.

1984-Q1. . .
- Q 2 ...
-Q 3 ...
-Q4. . .

XXX
XXX
XXX
XXX

XXX

60.
61 .
61 .
59.

4.
2.
4.
2.

XXX
XXX
XXX
XXX

XXX

1984-Q1...
-Q2. . .
- Q 3 . ..
- Q 4 ------

9.
7.
10.
12 .

XXX
XXX
XXX
XXX

XXX

XXX
XXX
XXX

41 .
38.
36.
37 .

XXX
XXX
XXX
XXX

XXX

48.
52.
46.
47.

49.
55.
54.
51.

XXX
XXX
XXX
XXX

XXX
XXX

7.
8.
8.
10 .

57.
57.
58.
58.

XXX
XXX
XXX
XXX

XXX

31.
38.
38.
44.

1983-01...
- Q 2 . ..
- Q 3 . ..
- Q 4 . ..

XXX
XXX
XXX
XXX

XXX

13.
8.
6.
9.

(

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

56.
54.
56 .
47 .

FEDERAL RESERVE DISTRICT

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

C CO,, KS,

FEDERAL RESERVE DISTRICT

XXX

OK*,

WY )

AGRICULTURAL BANKS

49.
54.
55.
55.

12.
17.
20.
17.

79.
74.
76.
74.

9.
8.
4.
8.

40.
45.
46.
43.

8.
15.
14.
13.

66.
66.
67.
53.

25.
19.
19.
34.

XXX
XXX
XXX

52.
54.
57.
, 55.

11 .
10.
16.
18.

77.
75.
73.
72.

13 .
15.
11 .
10 .

26.
31.
36.
33.

4.
4.
10.
4.

52.
56.
57.
50.

44.
41.
33.
46.

XXX

58.

15.

74.

11.

21.

4.

34.

62.

XXX
XXX
XXX
XXX

17.
30.
22.
15.

74.
65.
73.
80.

9.
6.
5.
5.

XXX
XXX
XXX

11.
24.
15.
9.

68.
60.
66.
74.

20.
17 .
19.
17.

XXX

NMX,

NMX,

XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX

XXX

59.
61.
61.
61 .

ELEVENTH (DALLAS)

AGRICULTURAL BANKS

WI* )

XXX
XXX

18.
19.
17.
20.

I9 83-Q 1...
- Q 2 ...
- Q 3 . ..
- Q 4 . ..

633.4

Mi x ,

XXX

XXX
XXX

7 ^
75.
74.
72.

TENTH (KANSAS CITY)

(

OKX,
XXX

47.
51.
43.
46.

XXX
XXX
XXX

TX )

XXX

60.
61.
62.
60.

50.
38.
36.
43.

36.
46.
45.
42.

14.
16.
19.
15.

5.
5.
4.
4.

50.
40.
43.
40.

XXX
XXX
XXX
XXX

XXX
XXX
XXX

19.
9.
11 .
18 .

71.
80.
79.
71.

10.
11 .
11.
11.

XXX
XXX

6.
6.
8.
8.

71.
76.
63.
60.

23.
18.
29.
32.

56.

52.

41.

7.

6.

33.

XXX

XXX

17 .

69.

14.

XXX

11.

50.

39.

XXX

XXX
XXX

FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 6 3 3 (CONTINUED)
AVERAGE LOAN/DEPOSIT RATIO, AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT AVAILABILITY
(REFUSED OR
EXPECT PROBLEMS
NUMBER ■ o n FARM LOAN REFERRALS TO—
AVERAGE
REDUCED A ACTIVELY IN MEETING FARM
LOAN/DEPOSIT RATIO I S —
NONBANK AGENCIES
CORRESPONDENT 1BANKS
LOAN/DEPOSIT
FARM LOAN SEEKING
LOAN REQUESTS
RATIO
NEN
BECAUSE OF
DURING THE NEXT
COMPARED NITH
AT END OF
LONER
AT
HIGHER A SHORTAGE
FARM
QUARTER BECAUSE
i|COMPARED NITH
NONEII NORMAL NUMBER
NORMAL NUMBER
THAN
DESIRED
THAN
LOAN
QUARTER
OF LOANABLE
OF A SHORTAGE NONE
(PERCENT)
DESIRED
LEVEL
DESIRED
FUNDS
OF FUNDS
ACCOUNTS
1
LOWER SAM£ HlGHEP
1LOWER
__________

QUARTER

633.3

NINTH (MINNEAPOLIS)

FEDERAL RESERVE DISTRICT

( MIX,

MN, MT,

ND,

SD,

NIX )

_______ _____

1981-Q1. . .
” Q2. . .
- Q 3 . ..
-Q4. ..

64.
65.
65.
63.

40.
35.
40.
41.

54.
56.
51.
49.

6.
9.
9.
10.

3.
3.
3.
2.

75.
66 .
68.
67.

4.
5.
3.
2.

1
1 24.
I 26.
27.
30.

9.
15 .
9.
11.

65.
55.
60.
55.

3.
4.
3.
4.

18.
16.
18.
19.

5.
7.
9.
7.

50.
53.
53.
48.

26.
24.
21.
26.

1982-Q1...
- Q 2 ...
-Q 3. . .
-Q4. . .

62.
63.
63.
63.

47.
43.
49.
44.

43.
48.
42.
48.

10.
9.
8.
7.

2.
2.
4.
1.

69.
73.
80.
75.

3.
3.
3.
2.

29.
28.
31.
31.

4.
7.
6.
8.

61.
62.
58.
58.

7.
3.
6.
3.

19 .
17 .
19.
10 .

3.
3.
7.
4.

39.
59.
60.
51.

38.
21.
15.
35.

1983-Q1. . .
- Q 2 . ..
- Q 3 . ..
-Q4. . .

60.
61.
62.
61.

60.
59.
57.
64.

37.
36.
39.
34.

3.
5.
4.
2.

1.
1.
0.
2.

78.
83.
78.
81.

2.
2.
1.
2.

32.
26.
28.
27.

3.
10.
8.
8.

62.
58.
62.
61.

3.
6.
2.
3.

16.
19.
19.
18.

6.
8.
7.
7.

45.
63.
64.
58.

34.
10.
10.
17.

1984-Q1. . .
~Q2. . .
- Q 3 ...
-Q 4 ...

63.
65.
65.
63.

53.
42.
48.
43.

42.
47 .
41.
51.

4.
11 .
12 .
7.

4.
5.
4.
4.

77.
73.
78.
72.

3.
3.
4.
2.

37.
24.
32.
34.

2.
5.
5.
4.

54.
64.
55.
52.

8.
7.
8.
10.

16.
14.
21.
16.

3.
3.
4.

42.
59.
44.
46.

39.
24.
31.
37.

62.

34.

58.

8.

1

74.

1

34.

4.

51.

11.

8.

1

38.

53.

0.
0.

18.
25.
14.
16.

0.
0.

52.
48.
52.
47.

0.
0.

3.
6.

30.
31.
28.
28.

19.
21.
17.
19.

59.
59.
56.
52.

0.
0.
0.
0.

29.
27.
37.
38.

12.
15.
7.
10.

1985-Q1... j
1

I
1

633.5

1

.

FIFTH (RICHMOND) FEDERAL RESERVE DISTRICT

1981-Q1...
- Q 2 ...
- Q 3 . ..
- Q 4 ...

64.
64.
64.
63.

38.
33.
42.
52.

59.
52.
58.
42.

3.
15.

1982-Q1...
-Q 2.. . 1
-Q3. . . 1
-Q4. . .

64.
64.
62.
62.

39.
45.
50.
54.

58.
52.
46.
46.

3.
3.
4.
0.

1983-Q1. .
-Q2. .
-Q 3..
-Q4. .

61.

0.

6.

0.

3.
0.
0.
0.
0.

0.
0.

(

MD, NC,

SC,

.

VA,
XXX
XXX
XXX
XXX

82.
75.
75.
81.

71.
56.
69.
69 *

XXX
XXX
XXX
XXX

79.
82.
77.
83.

67.

69.

XXX

XXX

XXX

XXX

62.
62.

68.
63.

32.
34.

0.
3.

0.
0.

65.
73.

XXX
XXX
XXX
XXX

1984-Q1...1
-Q2. . .
-Q 3 ...
-Q4. . .

64.
64.
64.
66.

54.
42.
41.
33.

42.
55.
48.
60.

4.
3.
10.
7.

0.
0.
0.
0.

76.
67.
68.
68.

1985-Q1. . .

66.

38.

52.

10.

0.

66.




58.

42.

0.

3.

'

XXX

.
.

NVX )

73.
70.
77.
71.

XXX

.
.
.i
. 1

1

7.
3.
0.
0.

0.
0.
0.

18.
18.
23.
14.
31.

4.
0.

3.
0.

0.
3.
0.

55.

0.

41.

3.

XXX

XXX

XXX

XXX

XXX

XXX

XXX

XXX

76.
84.

0.
0.

24.
13.

0.
3.

57.
52.

4.
0.

32.
23.

7.
26.

XXX
XXX
XXX
XXX

I 81.
83.
1 82.
i
89.

0.
0.
0.
0.

19.
17.
19.
11.

0.
0.
0.
0.

65.
69.
65.
59.

0.
0.
0.
0.

27.
28.
31.
35.

si
3.
4.
7.

XXX

78.

0.

22.

0.

52.

0.

31.

17.

47

48
FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 634

INTEREST RATES ON FARM LOANS
END OF
QUARTER

MOST COMMON INTEREST RATE CHARGED ON FARM LOANS
(AVERAGE, PERCENT)
FEEDER
OTHER
NON-REAL - ESTATE LOANS LONG-TERM
CATTLE OPERATING
REAL
LOANS
LOANS
SHORT- INTERMEDIATE
ESTATE
TERM
TERM
LOANS
634. 1

AVERAGE INTEREST RATE EXPECTED DURING THE NEXT QUARTER , COMPARED WITH
RATES IN THIS QUARTER (PERCENTAGE OF BANKS REPORTING)
LONG-TERM
INTERMEDIATE- TERM
SHORT-TERM
REAL ESTATE LOANS
NON-REAL-ESTATE LOANS
NON-REAL -ESTATE LOANS
LOWER

SAME

HIGHER

LOWER

SAME

HIGHER

LOWER

SAME

HIGHER

( IL*, IN*, 10, MI*, Wix ) AGRICULTURAL BANKS

SEVENTH (CHICAGO) FEDERAL RESERVE DISTRICT

1981-Q1...
-Q2...
“Q3.. .
-Q4...
1982-Q1...
-Q2. ..
-Q3...
-Q4...

16.5
17.7
18.6
16.9

16.5
17.8
18.6
17.0

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

15.4
16.4
17.5
16.5

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
XXX*

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

17.3
17.2
15.6
14.4

17.3
17.2
15.6
14.4

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

16.8
16.7
15.6
14.3

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1983-Q1...
”Q2.. .
-Q3...
-Q4...

13.7
13.5
13.7
13.6

13.7
13.5
13.7
13.6

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

13.5
13.2
13.4
13.3

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1984-Q1...
-Q2...
-Q3...
-Q4. ..

13.8
14.3
14.4
13.6

13.8
14.3
14.4
13.6

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

13.4
13.9
14.0
13.3

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1985-Q1...

13.5

13.5

xxxx

xxxx

13.2

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

( CO, KS, MO*, NE, NMX, OK*, WY ) AGRICULTURAL BANKS
t
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
j xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

634. 2

TENTH (KANSAS CITY) FEDERAL RESERVE DISTRICT

1981-Q1...
-Q2...
-Q3...
-Q4...

16.3
17.4
18.1
16.6

16.3
17.4
18.1
16.6

xxxx
xxxx
xxxx
xxxx

16.4
17.4
18.1
16.9

15.7
17.0
18.1
16.7

1982-Q1...
-Q2...
~Q3...
-Q4...

16.9
16.9
15.4
14.3

16.9
16.9
15.5
14.4

xxxx
xxxx
xxxx
xxxx

17.1
17.1
15.8
14.8

16.7
17.0
15.8
14.7

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

XXXX
xxxx
xxxx
xxxx

1983-Q1...
-Q2...
-Q3...
-Q4...

13.9
13.8
13.9
13.9

14.0
13.9
14.0
14.0

xxxx
xxxx
xxxx
xxxx

14.3
14.2
14.3
14.3

14.1
14.1
14.1
14.0

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

XXXX

i

XXXX
XXXX

]
I

1984-Q1...
”Q2...
-Q3...
-Q4...

14.1
14.5
14.6
13.9

14.2
14.6
14.7
14.1

xxxx
xxxx
xxxx
xxxx

14.5
14.8
14.9
14.2

14.1
14.4
14.6
14.0

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

XXXX

1

XXXX
XXXX

I
I

1985-Q1...

13.7

13.8

xxxx

14.0

13.7

xxxx

xxxx

xxxx




xxxx

xxxx

I xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
| xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx

xxxx

xxxx

xxx x

xxx x

xxxx

FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 634 (CONTINUED)

INTEREST RATES ON FARM LOANS
END OF
QUARTER

MOST COMMON INTEREST RATE CHARGED ON FARM LOANS
(AVERAGE/ PERCENT)
1FEEDER
OTHER
NON-REAL-ESTATE LOANS
CATTLE OPERATING
LOANS
LOANS
SHORT- INTERMEDIATETERM
TERM
634. 3

LONG-TERM
REAL
ESTATE
LOANS

EXPECTED DURING THE NEXT QUARTER, COMPARED WITH
QUARTER (PERCENTAGE OF BANKS REPORTING)
| INTERMEDIATE-TERM
LONG-TERM
| NON-REAL-ESTATE LOANS
REAL ESTATE LOANS
1
SAME
HIGHER
HIGHER
HIGHER I LOWER
SAME
LOWER
1

AVERAGE INTEREST RATE
RATES IN THIS
SHORT-TERM
NON-REAL-ESTATE LOANS
LOWER

SAME

( MI*, MN, MT, ND, SD, WI* )

NINTH (MINNEAPOLIS) FEDERAL RESERVE DISTRICT

1983-Q1...
-Q2...
-Q3...
-Q4...

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

14.2
13.9
14.1
14.0

14.6
14.2
14.4
14.3

13.6
13.6
14.1
13.7

45.
3.
10.
8.

52.
69.
75.
77.

3.
28.
16 .
15.

34.
4.
8.
6.

62.
70.
74.
81.

4.
26 .
18.
13.

34.
9.
12.
5.

59.
78.
76 .
85.

7.
13.
12.
10.

1984-Q1...
~Q2...
-Q3...
-Q4...

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

14.1
14.6
14.9
14.3

14.3
14.8
15.0
14.5

13.7
14.2
14.4
13.9

2.
4.
10.
67.

45.
31 .
73.
32.

53.
65.
16.
1.

2.
3.
8.
54.

48.
33.
75.
45.

50.
64.
17.
1.

0.
4.
9.
42.

52.
32.
74.
58.

48.
64.
17.
0.

1985-Q1...

xxxx

xxxx

13.9

14.1

13.6

6.

71.

23.

4.

68.

28.

2.

77.

20.

634. 4

ELEVENTH (DALLAS) FEDERAL RESERVE DISTRICT

( LAX / NMX, OK*, TX :)

13.3
13.2
13.4
13.4

13.3
13.3
13.5
13.5

xxxx
xxxx
xxxx
xxxx

13.5
13.6
13.6
13.6

13.3
13.1
13.4
13.5

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

14.1
14.7
14.8
13.6

14.1
14.8
14.8
13.7

xxxx
xxxx
xxxx
xxxx

14.3
14.8
14.9
13.8

14.1
14.6
14.7
13.8

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1985-Q1... 13.8

13.8

xxxx

14.1

13.7

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

1983-Q1...
-Q2...
-Q3...
-Q4. ..1
1984-Q1...
-Q2. ..
-Q3...
-Q4. ..

634. 5

FIFTH (RICHMOND) FEDERAL RESERVE DISTRICT

( MD, NC, SC/ VA, WV* )

1983-Q1...
~Q2...
-Q3...
~Q4...

13.2
xxxx
13.4
13.3

13.1
xxxx
13.3
13.1

xxxx
xxxx
xxxx
xxxx

13.7
xxxx
13.8
13.9

13.5
xxxx
13.7
13.9

xxxx
xxxx
xxxx
xxxx ,

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1984-Q1...
~Q2...
~Q3...1
-Q4...

13.5
14.2
14.3
13.1

13.3
14.1
14.2
13.1

xxxx
xxxx
xxxx
xxxx

13.6
14.5
14.5
13.4

13.8 ‘
14.5
14.4
13.6

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1985-Q1...

12.9

12.8

xxxx

13.3

13.3

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx




49

50
FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 635

TRENDS IN FARM REAL ESTATE VALUES AND LOAN VOLUME
MARKET VALUE OF GOOD FARMLAND
1
1
|
|
1
i
!

END OF
QUARTER

PERCENTAGE CHANGE FROM
A YEAR EARLIER

PERCENTAGE CHANGE
DURING QUARTER
ALL
635.1

DRYLAND

IRRIGATED

RANCHLAND

ALL

DRYLAND

IRRIGATED

SEVENTH (CHICAGO) FEDERAL RESERVE DISTRICT

RANCHLAND

PERCENTAGE OF BANKS EXPECTING
TREND DURING THE NEXT
QUARTER TO BE
DOWN

STABLE

2.
1.
0.
-2.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

-10.
-5.
-1.
1.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

11.
9.
16 .
15.

66.
76 .
69.
77.

1984-Q1...
-Q2. ..
-Q3.. .
-Q4 ...

-3.
-1.
-4.
-6 .

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

-5.
-8.
-10.
-15.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

32.
32.
46.
60.

62.
67.
53.
40.

1985-Q1...

-6 .

xxxx

xxxx

xxxx

-18.

xxxx

xxxx

xxxx

60.

39.

635.4

ELEVENTH (DALLAS) FEDERAL RESERVE DISTRICT

SAME

HIGHER

37.
33.
30.
25.

52.
55.
58.
59.

11.
12.
12.
16.

31.
39.
39.
44.

52.
51.
52.
43.

17.
10.
8.
13.

48.

38.

14.

LOWER

( ILX, INX, 10, MIX, WIX ) AGRICULTURAL BANKS

1983-Ql ...
-Q2...
- Q 3. .
-Q4...

.

UP

PERCENTAGE OF BANKS EXPECTING
FARM REAL ESTATE LOAN VOLUME
DURING THE NEXT QUARTER,
COMPARED WITH VOLUME MADE
A YEAR EARLIER, TO BE—

1
i
|
1
I
I
1
I
1
i
1
1
6.
I
I
1.
1
I
1.
1
0.
I
i
I
1.
....... . 1
23.
15.
15.
8.

( LA*, NMX, 0KX, TX )

1983-Ql...
-Q2...
-Q3...
-Q4...

xxxx
xxxx
xxxx
xxxx

-0.
-0.
1.
2.

2.
2.
-3.
-3.

2.
5.
2.
1.

xxxx
xxxx
xxxx
xxxx

5.
3.
0.
3.

-5.
0.
-1
-2.

.

6.
8.
10.
10.

X XX
X XX
X XX
X XX

X XX
XXX
X XX
X XX

X XX
X XX
X XX
X XX

37.
40.
34.
26.

52.
51.
56.
69.

11.
9.
10.
6.

1984-Q1.. .
-Q2...
-Q3...
-Q4.

xxxx
xxxx
xxxx
xxxx

2.
2.
-1.
-2.

-1.
2.
1.
-2.

4.
2.
2.
-5.

xxxx
xxxx
xxxx
xxxx

6.
8.
6.
1

.

-5.
-5.
-2.
-1.

12.
10.
9.
3.

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

29.
36.
23.
36.

62.
58.
69.
57

.

9.
6.
8.
7.

xxxx

-2.

-3.

-3.

xxxx

-3.

-3.

-4.

X XX

X XX

X XX

38.

55.

7.

6.

33.

58.

..
1985-Q1. . .

...
...
.....
1984-Q1...
-Q2...
1983-Ql
-Q2
-Q3
-Q4.

635.5

FIFTH (RICHMOND) FEDERAL RESERVE DISTRICT

4.
xxxx
xxxx
1.

xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx

-6.
xxxx
9.
8.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

X XX

-2.
5.
-9.
1.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1.
xxxx
-7.
-6.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

-5.

xxxx

xxxx

xxxx

-9.

xxxx

xxxx

-Q3... 1
-Q4... 1
i
1
1985-Q1... i
L




X XX X

XXXX

( MD, NC, SC, VA,
6

1

wvx )

.

88.

13.
12.

X XX

84.
85.

XXX

3.
3.

xxxx
xxxx
xxxx
xxxx

24.
25.
23.
33.

76.
75.
77.
67.

xxxx

40.

60.

X XX

9.

23.
33.

X XX

61.
55.

X XX

0.
0.
0.
0.

25,
27.
30.
38.

57.
67.
63.
55.

18.
7.
7.
7.

0.

48.

48.

3.

16.
12.

FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 635 (CONTINUED)

TRENDS IN FARM REAL ESTATE VALUES AND LOAN VOLUME
MARKET VALUE OF GOOD FARMLAND
END OF
QUARTER
ALL
635.2

DRYLAND

IRRIGATED

RANCHLAND

ALL

DRYLAND

-6.

-0.

3.
1.
-1.
-0.

xxxx
xxxx
xxxx
xxxx

-2.

xxxx
xxxx
xxxx
xxxx

-A.
-3.
-3.
-2.

-A.
-2.
-A.
-2.

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

xxxx
xxxx
xxxx
xxxx

1983-Q1.
-Q2.
-Q3.
-QA.

xxxx
xxxx
xxxx
xxxx

-0.
3.
-2.
-1.

0.
1.
-1.
-1.

-1.
1.
-3.
-0.

xxxx
xxxx
xxxx
xxxx

-1.
-1.
-1.

1984-Q1.
-Q2.
-Q3. ##
-Q4 .
1985-Q1.

xxxx
xxxx
xxxx
xxxx

-6.
-0.

-6.
-3.

-A.
-A.
-A.

-8.

xxxx
xxxx
xxxx
xxxx

-9.

xxxx

xxxx
xxxx
xxxx
xxxx

1982-Q1.
-Q2.
-Q3.
-QA.

xxxx

IRRIGATED

RANCHLAND

TENTH (KANSAS CITY) FEDERAL RESERVE DISTRICT
2.
5.
-A.
-A.

1981-Q1.
-Q2. ..
-Q3.
-QA.

1.
A.

-8.

-6.
-6 .

-8.

-3.
-A.

PERCENTAGE OF BANKS EXPECTING
TREND DURING THE NEXT
QUARTER TO BE—

PERCENTAGE CHANGE FROM
A YEAR EARLIER

PERCENTAGE CHANGE
DURING QUARTER

11.
17.

8.

DOWN

STABLE

HIGHER

X XX

X XX
XXX

XXX

X XX
XXX

XXX
X XX

X XX
XXX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

-6.
-9.
-12.
-13.

X XX
XXX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
XXX
X XX
X XX

-8.

XXX
XXX
XXX

X XX
X XX

XXX

-7 .
-13.
-15.
-11.

-7.
-13.
-13.
-11.

-8.

-7.
-A.
-2.
-1.

-6.
-5.
-A.

-7.
-11.
-17.
-19.

-7.
-11.
-12.
-19.

XXX
XXX
XXX

XXX

-23.

X XX

X XX

-17.

SAME

XXX

12.
15.
8.
3.

-7.
-10.
-15.
-19 .
-18.

LOWER

( CO, KS, MO*, NE, NMX, OK*, WY ) AGRICULTURAL BANKS

15.
6.
-1.

8.

UP

PERCENTAGE OF BANKS EXPECTING
DEMAND FOR LONG-TERM FARM
REAL ESTATE LOANS DURING THE
NEXT QUARTER, COMPARED WITH
NORMAL DEMAND, TO BE—

XXX
XXX

X XX
XXX

XXX

XXX
XXX

X XX
X XX
X XX

X XX
X XX
X XX

XXX
XXX

X XX
X XX

X XX
X XX
XXX
X XX

X XX
X XX
X XX
X XX

X XX

X XX

XXX

X XX

XXX
XXX
XXX

X XX
XXX
X XX

XXX

X XX
X XX
X XX

X XX

XXX

X XX

X XX

XXX

XXX

( Mix, MN, MT, ND, SD, WI* )

635.3

NINTH (MINNEAPOLIS) FEDERAL RESERVE DISTRICT

1981-Q1.
-Q2.
-Q3...
-QA.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx

xxxx
xxxx
xxxx

XXX
XXX
XXX
XXX

X XX
X XX

X XX

XXX
XXX

XXX
XXX
XXX

53.
58.
53.
A8 .

A2.
40.
A5.
A0.

5.
2.
2.
12.

1982-Q1.
-Q2.
-Q3.
-Q4.

xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx

xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx

xxxx

X XX

xxxx

xxxx

xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

65.
56.
AA.
5A.

23.
A2.
A5.
38.

12.
2.
11.

1983-Q1.
-Q2. #.
-Q3...
-Q4.

xxxx

xxxx

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx
xxxx

X XX
X XX

X XX
XXX
X XX
X XX

X XX
X XX
XXX
X XX

37.
39.
29.
33.

A7 .
56.
53.
58.

16.
5.
18.
9.

X XX
X XX

X XX
X XX
X XX

X XX
X XX

XXX

XXX
XXX

33.
A8.
37.
36.

57.
A6 .
55.
57.

11.
5.
8.
6.

X XX

XXX

32.

56.

12.

198A-Q1.
-Q2.
-Q3. ,
-QA.
1985-Q1.

xxxx

xxxx

xxxx

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx

xxxx

xxxx

xxxx

xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx

-A.
-A.
-1.
-1.

1.
-5.
-3.
-7.

-8.
-1.
2.
-5.

xxxx
xxxx

-2.

xxxx

xxxx

xxxx

xxxx

xxxx




xxxx

-2.

-2.

xxxx

xxxx
xxxx

xxxx

X XX X

xxxx

XXXX

xxxx

xxxx

xxxx
xxxx

xxxx

xxxx

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx

-8.

xxxx
xxxx

-16.

j

xxxx
xxxx

-6 .

I

XXX

X XX
X XX
XXX
XXX

XXX
XXX

X XX

8.

51