Full text of E.15 Agricultural Finance Databook : June 1986

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E. 15 (125)

AGRICULTURAL FINANCE
DATABOOK
June 1986

Guide to internal tables of contents and notes on sources

Page

Farm sector financial data..........................................

3

Farm debt outstanding at reporting lending institutions...... ....... 23

Emanuel Melichar




Farm lending operations and experience..............................

32

Farm credit conditions at commercial banks......... ••••••..........

41

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

2

This issue of the Agricultural Finance Databook replaces earlier issues.
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is being resumed.
Parts or all of the Agricultural Finance Databook may be copied and
distributed freely. When only selected tables are distributed to others,
please also copy and distribute the corresponding "contents" page providing
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in the past have been from persons who did not have or did not examine
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To receive the Agricultural Finance Databook (Statistical Release E.15)
on a regular basis, send your name and address (including zip code) to:
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Include a copy of the back cover showing your old address.




PROFITABILITY OF FARM CAPITAL
101

Rates of return to assets and equity

4

FARM SECTOR FINANCIAL DATA IN 1985 DOLLARS
112
342
412

Cash flow and returns from factors (labor, management, and capital)................ ••••
6
Real capital gains................................................... .................. 8
Balance sheet (assets, liabilities, and equity)..................... ................... 10

FARM SECTOR FINANCIAL DATA IN CURRENT DOLLARS
111
341
411
521
531

Cash flow and returns from factors (labor, management, and capital)....................
Real capital gains.....................................................................
Balance sheet (assets, liabilities, and equity)............................ •••••......
Real estate debt.... ................................. .............. .................
Non-real-estate debt...................................................................

12
14
16
18
20

Price index used in computing values in 1985 dollars and real capital gains...... .............. 22

Data are for the farm sector excluding farm households (operators’ dwellings, household equipment and
furnishings, and all financial assets except currency, bank demand deposits, and stock in farmers1
cooperatives). Except as noted below, data are USDA series published in Economic Indicators of the Farm
Sector, National Financial Summary, 1984, USDA, ERS, ECIFS 4-3, January 1986. Income data for 1910-39
are from predecessor publications. Asset and debt data for 1910-39 are based on series published by
Alvin S. Tostlebe in Capital in Agriculture: Its Formation and Financing Since 1870, Princeton University
Press, 1957, and series in Historical Statistics of the United States, Colonial Times to 1970, U.S. Bureau
of the Census, 1975. Data for 1985 are estimated primarily from USDA forecasts published in the monthly
Agricultural Outlook. Data shown in 1985 dollars have been adjusted to reflect changes in the value of
the dollar for consumption expenditures, using the index described on page 22.
Two series estimated by the author are substituted for USDA series.
"Returns imputed to operators1 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 deposit
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. Thus data derived
using the new series (e.g., total assets, income from assets) also differ from their USDA counterparts.



4
TABLE 101

YEAR

RATES OF RETURN TO FARM ASSETS AND EQUITY (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS, ANNUAL A V E R A G E I AMOUNTS, ANNUAL AVERAGE
1985 DOLLARS, PCE DEFLATOR
CURRENT DOLLARS
(MILLIONS OF DOLLARS)
(MILLIONS OF DOLLARS)
ASSETS

DEBT

EQUITY

ASSETS

DEBT

EQUITY

RETURN TO ASSETS
(PERCENT)

COST OF D E B T I
(PERCENT)

RETURN TO EQUITY
(PERCENT)

REAL
TOTAL
TOTAL
REAL TOTAL
REAL
INCOME CAPITAL RETURN INTEREST CAPITAL REAL INCOME CAPITAL RETURN
GAINS
GAINS
GAINS _COST

1910.. .
1911...
1912...
1913...
1914...
1915...
1916. ..
1917. ..
1918. ..
1919.. .

39143.
40412.
41743.
43295.
44370.
46085.
49915.
55776.
62040.
69917.

5311.
5640.
6154.
6681.
7029.
7399.
8145.
9369.
10501.
12196.

33832.
34772.
35589.
36615.
37341.
38686.
41769.
46407.
51539.
57722.

485946.
501704.
500356.
506734.
512409.
526962.
530611.
504912.
478180.
469193.

65929.
70014.
73767.
78191.
81169.
84602.
86587.
84816.
80936.
81840.

420017.
431690.
426589.
428544.
431240.
442360.
444024.
420096.
397244.
387353.

4.9
2.9
5.1
3.3
4.2
4.4
4.3
9.5
8.3
6.9

2.7
1.6
-.9
2.1
-1.4
.6
-2.2
-5.7
-6.4
.3

7.6
4.5
4.2
5.3
2.9
5.0
2.1
3.8
1.8
7.2

7.1
7.1
7.0
7.0
7.0
6.9
6.8
6.7
6.6
6.6

.0
1.5
2.8
1.9
1.4
4.0
10.9
14.7
14.4
12.7

7.1
5.6
4.1
5.2
5.6
2.9
-4.1
-8.0
-7.8
-6.1

4.6
2.2
4.8
2.6
3.7
3.9
3.9
10.1
8.6
6.9

3.1
2.1
-.6
2.8
-1.4
1.5
-.5
-3.9
-4.8
3.1

7.7
4.3
4.2
5.4
2.4
5.4
3.4
6.1
3.8
10.0

1920.. .
1921...
1922...
1923...
1924...
1925...
1926...
1927...
1928...
1929...

71296.
62991.
57984.
56617.
55275.
54696.
53884.
53540.
54345.
54781.

14607.
15393.
14907.
14585.
13852.
13228.
13043.
12955.
13027.
12860.

56689.
47599.
43078.
42033.
41423.
41468.
40841.
40585.
41319.
41921.

413059.
408519.
401516.
385144.
375278.
362154.
353409.
357905.
368248.
371201.

84627.
99827.
103222.
99213.
94042.
87586.
85543.
86601.
88269.
87138.

328432.
308691.
298294.
285931.
281235.
274567.
267867.
271304.
279979.
284063.

3.7
.6
2.6
3.2
3.0
5.9
4.6
4.4
4.8
5.0

-14.0
-4.0
1.8
-4.3
-1.5
-3.1
-1.8
2.9
2.2
1.2

-10.4
-3.4
4.4
-1.1
1.4
2.8
2.7
7.3
6.9
6.2

6.9
6.8
6.9
6.7
6.8
6.8
6.7
6.6
6.5
6.5

1.5
-9.0
-2.5
1.1
1.4
1.7
-.6
-1.6
-.6
-1.4

5.4
15.8
9.4
5.6
5.4
5.1
7.3
8.2
7.0
7.9

2.9
-1.4
1.2
1.9
1.7
5.7
3.9
3.7
4.3
4.6

-17.3
-8.2
1.5
-5.3
-1.6
-3.6
-2.6
3.3
2.7
1.1

-14.4
-9.6
2.7
-3.4
.1
2.1
1.3
7.0
6.9
5.7

1930...
1931...
1932...
1933...
1934...
1935...
1936...
1937...
1938...
1939. ..

51736.
44764.
37358.
34694.
36248.
38398.
40492.
41273.
40873.
40940.

12291.
11517.
10604.
9561.
8933.
8891.
8751.
8576.
8741.
8808.

39445.
33247.
26754.
25132.
27315.
29507.
31741.
32696.
32132.
32131.

359579.
345693.
325724.
313742.
304059.
314500.
327249,
321795.
323869.
326525.

85423.
88940.
92459.
86465.
74935.
72822.
70722.
66869.
69258.
70253.

274156.
256752.
233265.
227277.
229124.
241678.
256527.
254926.
254611.
256272.

1.8
1.2
-.5
1.6
1.9
6.7
3.8
6.6
2.7
2.8

-3.8
-6.4
-8.6
3.1
1.9
2.3
3.3
-3.9
-2.1
1.8

-2.0
-5.2
-9.1
4.7
3.8
9.0
7.2
2.8
.5
4.6

6.4
6.5
6.4
6.1
5.9
5.2
5.0
4.9
4.8
4.9

-6.7
-11.6
-8.3
1.9
5.0
2.0
2.4
1.0
-1.0
.0

13.2
18.0
14.6
4.3
.9
3.2
2.7
3.9
5.8
4.9

.3
-.6
-3.2
-.2
.6
7.1
3.5
7.1
2.1
2.2

-7.0
-12.7
-15.3
5.0
4.1
3.6
4.9
-4.6
-3.0
2.4

-6.7
-13.3
-18.5
4.9
4.7
10.7
8.4
2.5
-.9
4.6

1940. ..
42204.
1941. ..
46380.
1942...
54531.
63669.
1943...
1944...
71598.
1945...
78751.
1946.. .
87308.
1947.. .
96952.
1948. ..1 104373.
1949...
106890.

8941.
9180.
8963.
8285.
7620.
7194.
7206.
7800.
9192.
10710.

33263.
332248.
37200.
339829.
45568.
361451.
55384.
386236.
63978.
410778.
71557.
434398.
80102. 1 444081.
89153.
446458.
95181. | 454449.
96180.
467224.

70388.
67260.
59410.
50257.
43718.
39680.
36652.
35916.
40023.
46814.

261860.
272570.
302041.
335979.
367060.
394717.
407428.
410542.
414426.
420410.

2.8
5.7
8.4
7.3
4.4
3.8
5.6
4.5
6.5
2.7

-2.4
2.5
3.6
5.7
3.5
1.5
-1.1
2.6
-1.5
-1.4

.4
8.2
12.0
13.0
7.9
5.2
4.5
7.0
4.9
1.3

4.8
4.9
4.9
4.9
4.9
4.9
5.1
5.2
5.0
4.7

4.2
8.8
9.7
7.5
4.9
6.2
10.4
6.6
2.1
-.4

.6
-3.8
-4.8
-2.6
-.0
-1.2
-5.2
-1.4
2.9
5.1

2.3
5.9
9.0
7.7
4.4
3.7
5.6
4.4
6.6
2.5

-1.9
5.3
6.2
7.7
4.5
2.2
-.2
3.4
-1.5
-1.6

.3
11.2
15.3
15.4
8.9
5.9
5.4
7.8
5.2
.9




TABLE 101

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

AMOUNTS, ANNUAL AVERAGE
CURRENT DOLLARS
(MILLIONS OF DOLLARS)

AMOUNTS, ANNUAL AVERAGE
1985 DOLLARS, PCE DEFLATOR
(MILLIONS OF DOLLARS)

RETURN TO ASSETS
(PERCENT)

DEBT

EQUITY

ASSETS

DEBT

EQUITY

114952.
130017.
135667.
132859.
132989.
136474.
142216.
150346.
162300.
171583.

11444.
12394.
13788.
14886.
15627.
16455.
17198.
17923.
19964.
21996.

103508.
117623.
121879.
117974.
117363.
120020.
125018.
132424.
142336.
149587.

490957.
523340.
534545.
512653.
511391.
517676.
528702.
542701.
574727.
594430.

48877.
49886.
54327.
57438.
60090.
62416.
63934.
64694.
70695.
76201.

442080.
473454.
480219.
455215.
451301.
455261.
464768.
478006.
504032.
518229.

3.6
4.6
3.4
1.9
1.3
1.9
1.9
1.7
2.9
1.2

7.1
4.8
-6.0
-4.6
1.6

1960.
173869.
1961. 1 178826.
.
,
1962. I 186769.
1963. , , I 194508.
202179.
1964. . ,
214036.
1965. . ,
228436.
1966. , .
240828.
1967. • •
1968. , ,
253539.
265928.
1969.

23134.
24871.
27305.
30021.
32533.
35457.
38778.
41940.
45010.
47698.

150735.
153956.
159464.
164487.
169647.
178579.
189659.
198889.
208529.
218230.

591365.
600920.
616502.
632715.
646396.
672771.
696512.
716720.
721908.
725788.

78684.
83574.
90129.
97656.
104011.
111451.
118234.
124815.
128158.
130181.

512681.
517346.
526373.
535060.
542384.
561320.
578278.
591905.
593749.
595607.

2.2
2.4
2.1
2.3
1.5
2.4
2.5
2.0
1.5
2.1

-1.1
2.3
1.5
1.4
2.3
3.9
1.9
.6
-.3
-.7

276407.
292722.
323850.
382952.
434090.
479781.
553845.
627058.
724243.
855590.

49706.
52895.
57770.
64176.
72038.
80587.
91090
105933
123411
143540

226701.
239827.
266081.
318776.
362052.
399195.
462755.
521126.
600832.
712051.

720977.
729522.
775992.
863958.
886399.
906884.
990020.
1051991.
1131882.
1224303.

129651. 591325.
131825. 597697.
138424. 637568.
144784. 719173.
147099. 739300.
152325. 754559.
162827. 827193.
177719. 874272.
192873. 939009.
205397. 1018907.

1.8
2.0
3.6
7.0
4.5
3.4
1.8
1.6
2.6
2.7

-.8
2.8
8.0
10.7
-.0
6.8
9.5
3.4
8.8
4.9

965340.
1009043.
996946.
971693.
909616.
813149.

162767
179666
196279
203130
200873
195528

802573.
829377.
800668.
768563.
708744.
617622.

1247362.
1193571.
1115583.
1044500.
941592.
813149.

210319. 1037043.
212522. 981050.
219636. 895947.
218350. 826150.
207934. 733658.
195528. 617622.

1.4
2.6
2.1
1.6
3.8
3.8

-.6
-8.2
-7.4
-3.9
-14.4
-14.3

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




l RETURN TO EQUITY
(PERCENT)

TOTAL
TOTAL
REAL
REAL
REAL TOTAL
INCOME CAPITAL RETURN INTEREST CAPITAL REAL INCOME CAPITAL RETURN
GAINS
COST
GAINS
GAINS

ASSETS
1950.
1951.
1952.
1953.
1954. , .
1955.
1956. . .
1957. , ,
1958. , .
1959. !

COST OF DEBT
(PERCENT)

1.0

3.3
2.6
6.4
“.1

4.9
5.3
5.2
4.9
4.7
4.8
5.0
5.1
5.1
5.2

5.5
3.3
2.3
.8
.5
1.3
3.1
2.5
1.3
2.1

-.6
2.0
2.9
4.1
4.2
3.5
1.9
2.6
3.8
3.1

3.4
4.5
3.2
1.5
.8
1.5
1.5
1.3
2.6
.6

8.5
5.6
-6.4
-5.1
1.9
1.4
4.2
3.3
7.5
.2

1.1
4.7 1
3.6 1
3.7
3.9
6.3
4.4
2.6
1.2
1.3

5.5
5.4
5.4
5.5
5.5
5.6
5.7
5.9
5.9
6.1

1.6
1.3
1.7
1.7
1.4
2.3
2.9
2.9
4.3
4.4

3.8
4.1
3.7
3.8
4.2
3.3
2.8
3.0
1.5
1.7

1.7
1.9
1.6
1.8
.8
1.8
1.8
1.2
.6
1.2

-

4.8
11.6
17.8
4.5
10.3
11.3
5.0
11.4
7.6

1.0

6.4
6.4
6.3
6.9
7.5
7.5
7.7
7.7
7.9
8.7

4.5
4.3
3.7
8.0
9.1
6.3
5.0
6.0
7.4
9.2

2.0
2.1
2.7
-1.1
-1.5
1.2
2.7
1.7
.6
-.5

.8
-5.6
-5.2
-2.3
-10.6
-10.5

9.6
10.6
10.7
10.1
10.1
9.8

9.5
6.8
4.3
3.9
3.5
3.3

.1
3.9
6.3
6.2
6.6
6.5

10.7
9.4
-2.6
-2.8
2.9
3.0
5.2
4.3
9.3
1.1

12.0
10.1
-3.2
-3.6
2.7
2.9
5.7
4.5
10.1
.8

2.9
2.1
2.0
3.0
5.1
2.9
1.4
.6
.1

1. 0

.7
4.8
3.6
3.7
3.8
6.9
4.7
2.6
1.2
1.3

2.9
7.1
3.9
2.6
.6
.3
1.5
1.5

1.0

.0
4.3
10.6
14.5
1.8
9.5
12.3
5.3
12.1
7.7

.8
5.4
13.5
21.6
5.7
12.1
13.0
5.6
13.6
9.2

-.3
.8
.0
-.7
2.0
1.9

1.2
-8.5
-8.1
-3.9
-17.5
-17.8

-7.7
-8.1
-4.6
-15.5
-15.9

.8

1. 0

5

6
TABLE 112
FARM CASH

YEAR

GROSS
INCOME

FLOW AND

RETURNS

LESS:

FROM

FACTORS (LABOR/ MANAGEMENT, AND CAPITAL)
1985 DOLLARS, PCE DEFLATOR
A M O U N T S IN M I L L I O N S O F D O L L A R S

(EXCLUDING

LESS:

EQUALS:

NONFACTOR
OPERATING
EXPENSES

CASH
FLOW
FROM
FACTORS

CAPITAL
CONSUMP­
TION

INCOME
FROM
FACTORS

HIRED
LABOR

OPERATORS'
LABOR AND
MANAGEMENT
(IMPUTED)

INCOME
FROM
ASSETS

72295.
62938.
79735.
65290.
69819.
71770.
72839.
102098.
95010.
87131.

3737.
9097.
9207.
9289.
9331.
9711.
9975.
5078.
5503.
5989.

68508.
58891.
70527.
60957.
65989.
67059.
67859.
96970.
89507.
81692.

9373
9910
9957
9910
9285
9319
9610
10202
10305
10167

35295.
35197.
35633.
39851.
39980.
39532.
35228.
38811.
39673.
39209.

23891.
19333.
25937.
16696.
21729.
23208.
23021.
97956.
39528.
32271.

9659.
9998.
5153.
5999.
5652.
58 2 9 .
5886.
5688.
5362.
5399.

19181.
9385.
20283.
11197.
16072.
17389.
17135.
92268.
39166.
26872.

EQUALS:

LESS:

EQUALS:

LESS:

FARM

EQUALS:
REAL C A P I T A L
(PCE BASIS)

INTEREST) I N C O M E
ON
FROM
DEBT
EQUITY

ASSETS

1910 . . .
1911. . .
1912...
1913. . .
1 9 1 A .. .
1915.. .
1916. . .
1917 . . .
1 918 . . .
1 919 . . .

91296.
81718.
99550.
85355.
89832.
91630.
99635.
125356.
121721.
112351.

19050.
18780.
19816.
20119.
20013.
19859.
21800.
23308.
26712.
25220.

1920...
1921...
1922...
1923 . . .
1929. . .
1925. . .
1926.. .
1927...
1928.. .
1 929 . . .

92561.
60990.
71703.
77922.
78971.
88721.
82816.
83372.
88393.
88762.

23212.
18005.
19690.
21189.
23982.
23281.
23125.
23896.
26359.
25699.

69399.
92985.
52013.
56738.
55988.
65990.
59691.
59526.
62033.
63113.

5579.
5500.
5129.
5098.
5072.
9903.
9973.
9626.
9757.
9879.

63770.
37985.
96889.
51691.
50917.
61037.
55218.
59900.
57277.
58239.

10370
7588
7809
8510
8973
8389
8723
8709
8791
8809

38179.
27966.
28999.
30965.
30865.
31150.
30909.
30351.
30915.
30892.

15220.
2932.
10636.
12215.
11078.
21999.
16085.
15895.
17620.
18589.

5810.
6790.
7103.
6693.
6391.
5935.
5737.
5673.
5699.
5639.

9910.
-9309.
3539.
5522.
9687.
15569.
10398.
10172.
11921.
12999.

-58011.
-16911.
7105.
-16912.
-5726.
-11375.
-6985.
10285.
7923.
9978.

1930...
1931...
1932...
1933...
1939...
1935...
1936...
1937...
1938...
1939.. .

73195.
63886.
52260.
58157.
59856.
80792.
76017.
90502.
76831.
80592.

23509.
20065.
18293.
19197.
19881.
21990.
29079.
25998.
29601.
27205.

99636.
93821.
33967.
39010.
39975.
59302.
51993.
69559.
52230.
53337.

5317.
5383.
5231.
9693.
9328.
9391.
9671.
5021.
5372.
5160.

99319.
38938.
28735.
39316.
35697.
59961.
97272.
59533.
96858.
98176.

8181
7058
5833
5580
5696
6398
7015
7703
7757
7880

29729.
27203.
29969.
23812.
29105.
27637.
27662.
30970.
30995.
31163.

6919.
9177.
-1561.
9929.
5896.
20976 .
12595.
21360.
8605.
9133.

5981.
5799.
5903.
5302.
9925.
3819.
353 8 .
328 0 .
333 8 .
3952.

939.
-1572.
-7965.
-377.
19 2 1 .
17157.
9057.
18080.
5267.
5681.

-13506.
-22263.
-28122.
9839.
5705.
7178.
10893.
-12935.
-6997.
6025.

1990...
1991.. .
1992...
1993...
1999...
1995...
1996...
1997...
1998...
1999...

89677.
100228.
127891.
137890.
133998.
135675.
195236.
193895.
153595.
129660.

30990.
31316.
36138.
39237.
90109.
92991.
93595.
97799.
50155.
97398.

59187.
68912.
91703.
98603.
93839.
93189.
101691.
96197.
103990.
82312.

5209.
5268.
7696.
7092.
6890.
5913.
9735.
5696.
7171.
8838.

98983.
63699.
89008.
91511.
86999.
87271.
96905.
90950.
96269.
73979.

8101
9152
10811
12297
12639
12682
12879
12816
13019
12265

31516.
35139.
92988.
50919.
56087.
58179.
59193.
57727.
53801.
98977.

9366.
19353.
30209.
28301.
18228.
16915.
29839.
19908.
29999.
12731.

3377.
3319.
2903.
2939.
2129.
196 9 .
1877 .
187 0 .
1 990.
2203.

5989.
16039.
27306.
25862.
16099.
19951.
22957.
18038.
27959.
10528.

-8011.
8973.
13057.
21995.
19320.
6320.
-9762.
11969.
-6959.
-6597.




HOUSEHOLDS)

|
I

13195.
8210.
-9611.
10909.
-7095.
3372.
-11679.
-28965.
-30806.
1998.

GAINS
ON—
DEBT

0.

TOTAL RETURN
FROM—
ASSETS

EQUITY

1016.
2092.
1967.
1137.
3399.
9959.
12993.
11659.
10913.

37036.
22593.
20826.
27099.
19678.
26580.
11397.
18991.
8722.
33720.

32376.
18611.
17765.
23068.
10163.
29100.
19920.
25796.
15019.
38733.

1267.
-9030.
-2569.
1133.
1398.
1999.
-973.
-1929.
-987 .
-1251.

-92791.
-13979.
17791.
-9197.
535 2 .
10123.
9601 .
26130.
25599.
23062.

-97333.
-29750.
8079.
-9756.
309.
56 37 .
3 391.
19033.
19357.
16177.

0.

-7092.
-18086.
-29683.
19763.
11551.
28159.
23937.
8926.
1658.
15158.

-18333.
-39136.
-93220.
1 1069.
1 0883.
25810.
21562.
6307 .
-2393.
11705.

2929.
5896 .
5767.
3768.
2198.
2957.
3800.
2385.
89 9 .
-172.

1 355.
27826.
93266.
50296.
32597.
22739.
20072.
31376.
22995.
6189.

-5761.
-10301.
-7639.
1608.
3757.
1979.
1663.
66 1 .
-663.

907.
30903.
96130.
51575.
32567.
23227.
21995.
31892.
21399
3809.

TABLE 112
FARM CASH FLOW AND RETURNS FROM FACTORS (LABOR, MANAGEMENT, AND CAPITAL)
1985 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS

GROSS
INCOME

LESS:

EQUALS:

NONFACTOR
OPERATING
EXPENSES

CASH
FLON
FROM
FACTORS

LESS:

L ESS:

EQUALS:
INCOME
FROM
FACTORS

E Q U A L S ; I LES S :
|

(EXCLUDING FARM HOUSEHOLDS)

EQUALS:
INCOME
FROM
EQUITY

REAL C A P ITAL
(PCE BASIS)

1 95 0 .
1951 .
195 2 .
195 3 .
1954.
1955.
1956. , .
1957.
1958. • •
1959.

136343.
148743.
142952.
127118.
125782.
121239.
120659.
120000.
132251.
125124.

50372.
55620.
55040.
49533.
50836.
51140.
51500.
52571.
57366.
59598.

85971.
93123.
87912.
77585.
74946.
70099.
69159.
67429.
74885.
65526.

9828.
10916.
11470.
11688.
12032.
12210.
12153.
12381.
12500.
12943.

76143.
82206.
76443.
65898.
62914.
57888.
57006.
55048.
62384.
52583.

12006.
11758.
11257.
10557.
9983.
9919.
981 8 .
9869.
10064.
10064.

46537.
46379.
47003.
45666.
46477.
37937.
37173.
35811.
35414.
35282.

II N T E R E S T
ON
|
DEBT
I
1
l
17600.|
2387 .
2620.
24070.|
2849.
18182.|
9674.|
2813.
6454.|
284 2 .
3 000.
10032.I
10014.|
3 182.
9368.|
33 3 2 .
16906.|
3601 .
7237.|
3977 .

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

124985.
129730.
133194.
134257.
128231.
139259.
146650.
142830.
140151.
146226.

57838.
59384.
62261.
63620.
61619.
64066.
68509.
70125.
68327.
69823.

67147.
70346.
70933.
70637.
66613.
75193.
78141.
72705.
71824.
76403.

12833.
12776.
12923.
13152.
13431.
13705.
14105.
14782.
15228.
15434.

54314.
57570.
58010.
57485.
53181.
61488.
64036.
57923.
56596.
60969.

10415.
10726.
10890.
11060.
11136.
11328.
11227.
11080.
11159.
11329.

31125.
32250.
33959.
31660.
32060.
33866.
35703.
32413.
34547.
34759.

12775.
14593.
13161.
14766.
9986.
16294.
17106 .
14430.
10891.
14881.

4313.
4526.
4879.
53 8 0 .
57 6 4 .
6243.
6751 .
7321.
7525.
7920.

8462.
10067 .
8282.
9385.
422 1 .
10051.
10356.
7109.
3365.
6960.

-6313.
13805.
9321.
8824.
15038.
26024.
13565.
4427.
-2082.
-5189.

1970.
1971.
1972.
197 3 .
1974. , .
197 5 .
1 97 6 . , .
197 7 .
1 97 8 .
1 97 9 .

145467.
146721.
162119.
214304.
191061.
180369.
173347.
170608.
188337.
202558.

70857.
72416.
75833.
90944.
89379.
84933.
89068.
88072.
94387.
102453.

74610.
74305.
86285.
123361.
101682.
95436.
84279.
82536.
93951.
100105.

15363.
15778.
16105.
17011.
18231.
20044.
21082.
22088.
22424.
23320.

59247.
58527.
70181.
106350.
83451.
75393.
63197.
60448.
71527.
76785.

11247.
10821.
10850.
11628.
12407.
12449.
13423.
13342.
12939.
12851.

34955.
33151.
31777 .
33917.
31131 .
31684.
32013.
30581.
29362.
30352.

13044.
14555.
27554.
60805.
39913.
31260.
17761 .
16524.
29226.
33581.

8357.
8416.
8787 .
10001.
11088.
11483.
12536.
13666.
15297.
17935.

4687.
6138.
18767.
50804.
28825.
19777.
5225.
2858.
13929.
15646.

-5664.
20285.
62374.
92630.
-89.
61821.
93875.
35820.
99296.
59676 .

1 98 0 .
198 1 .
198 2 . , .
1983. , .
198 4 .
1985.

179189.
181590.
166505.
149063.
167998.
153650.

98208.
91503.
83331.
81109.
81693.
75700.

80980.
90088.
83174.
67955.
86305.
77950.

23061.
23199.
22293.
21158.
19909.
18400.

57919.
66889.
60881.
46797.
66396.
59550.

12008.
10564.
11395.
10521.
10424.
10000.

28518.
25818.
25766.
19776.
20444.
18828.

17393.
30507.
23721.
16500.
35528.
30722.

20205.
22614.
23479.
22103.
20988.
19200.

-2812.
7892.
242.
-5603.
14540.
11522.

YEAR

,,
..
..
,.




CAPITAL
CONSUMPTION

HIRED
LABOR

OPERATORS'
LABOR AND
MANAGEMENT
(IMPUTED)

INCOME
FROM
ASSETS
.

GAINS I
!
ON—

TOTAL RETURN
FROM—

ASSETS

DEBT

ASSETS

EQUITY

15213.
21450.
15334.
6861.
36 1 2 .
7031 .
6832.
6036 .
13305.
325 9 .

35065.
24892.
-32057.
-23829.
8178.
5381.
17623.
13968.
36809.
-491.

2692.
1 621.
1 264.
482.
302.
823.
1 987.
1 624.
927.
162 6 .

52665.
48962.
-13874.
-14155.
14632.
15412.
27637.
23336.
53715.
6746.

52970.
47963.
-15459.
-16486 .
12092.
13235.
26442.
21629.
51040.
4395.

1284.
1 079.
1 520.
1 622.
1 433.
2518.
3412.
3638.
554 6 .
5718.

-7194.
-97358.
-82102.
-41014.
-135211.
-116206.

6462.
28398.
22482.
23589.
25023.
42318.
30671.
1885 8 .
8 809.
9691 .

343 3 .
24950.
19124.
19830.
20692.
38593.
27333.
15174.
6829.
7489.

5797 .
5607.
5088.
11560.
13351.
9614.
8112.
10644.
14183.
18912.

7380,
34840,
89928,
15 3 4 3 6 ,
39824
93081
111636
52344
128522 .
1
93258
|

4 820.
32031.
86230.
154994.
42087.
91213.
107212.
49322.
127408.
94234.

20064.
14382.
9539.
8607 .
7182.
6424.

1
10200
1 0058.
-75083.
1 -66851 .
-72321.
1 -58381 .
1 -2451A .
-38010.
I -99683 . -113488.
-98260.
I -85483 .
j__________

7

TABLE 342
REAL CAPITAL GAINS* PCE BASIS (EXCLUDING FARM HOUSEHOLDS)
1985 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS

YEAR

TOTAL
ASSETS

TOTAL

TOTAL

REAL
ESTATE

PHYSICAL

ASSETS

MACHINERY
AND
MOTOR
VEHICLES

LIVE­
STOCK

STORED
CROPS

FINANCIAL
HOUSEHOLD
EQUIPMENT
AND
FURNISHINGS

TOTAL

As s e

ts

u.s.

CURRENCY
AND BANK
DEPOSITS

SAVINGS
BONDS

INVEST­
MENTS
IN
COOPERA­
TIVES

DEBT
INCLUDING
CCC
LOANS

1 910 . . .
1 911 . . .
1912...
1913...
1 9 1 A ...
1915...
1916 . . .
1917 . . .
1918 . . .
1919 . . .

13195.
9226.
-2518.
11871.
-5908.
6715.
-2215.
-16523.
-19152.
11861.

13195.
8210.
-4611.
10404.
-7045.
3372.
-11674.
-28965.
-30806.
1448.

13195.
8410.
-4224.
10651.
-6858.
3925.
-9916.
-26606.
-28658.
3681.

12917.
7329.
344.
3631.
-5442.
9207.
-17353.
-24371.
-21424.
16966.

-131.
-344.
-541.
-297.
29.
25.
-473.
84 4 .
-402.
-1653.

2495.
-2409.
3842.
4662.
2827.
-1841.
-1479.
1763.
-6004.
-11918.

-2085.
3835.
-7869.
2656.
-4272.
-3465.
9388.
-4841.
-828.
287.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

0.
-200.
-386.
-248.
-187.
-553.
-1758.
-2359.
-2148.
-2233.

0.
-172.
-329.
-209.
-156.
-459.
-1485.
-2014.
-1848.
-1956.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

0.
-2 8 .
-57.
- 39.
-3 0 .
-93.
-272.
-345.
-300.
-277.

0.
1016.
2092.
1467.
1137.
3344.
9459.
12443.
11654.
10413.

1920.. .
1921...
1922...
1923...
1924...
1925...
1926...
1927.. .
1928...
1929.. .

-56743.
-25441.
4540.
-15279.
-4378.
-9927.
-6957.
8861.
7436.
3228.

-58011.
-16411.
7105.
-16412.
-5726.
-11375.
-6485.
10285.
7923.
4478.

-57763.
-17961.
6648.
-16210.
-5485.
-11098.
-6576.
10003.
7827.
4230.

-29930.
-11766.
-19.
-15245.
-9282.
-6738.
-5446.
3697.
4341.
4246.

-1406.
183.
113 5 .
905.
233.
-396.
-168.
-279.
- 82.
-92.

-12850.
-3888.
2098.
-2960.
-1516.
1727.
1624.
3964.
3935.
-259.

-13577.
-2490.
3434.
10 9 0 .
5081.
-5692.
-2587.
2621.
-367.
33 5 .

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-247.
1550.
45 7 .
-202.
-241.
-278.
92.
282.
96.
248.

-217.
1349.
392.
-170.
-200.
-226.
74.
225.
76.
192.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

- 30.
2 01.
65.
-3 1 .
-41.
-51.
18.
57.
21.
56.

12 6 7 .
-9030.
-2564.
1133.
1348.
1449.
-473.
-1424.
-487.
-1251.

1930...
1931...
1932...
1933...
1934...
1935...
1936...
1937...
1938...
1939...

-19267.
-32564.
-35756.
11446.
9462.
8652.
12505.
-11773.
-7610.
6025.

-13506.
-22263.
-28122.
9839.
5705.
7178.
10843.
-12435.
-6947.
6025.

-14648.
-24249.
-29483.
10138.
6576.
7580.
11336.
-12228.
-7156.
6025.

-6994.
-12210.
-24818.
7067.
-5751.
5495.
1 418.
-2432.
-4822.
-2973.

986.
2008.
1013.
-313.
29.
126.
-33.
316.
473.
-296.

-7161.
-5273.
-1975.
-952.
-502.
11081.
-2327.
328.
1651.
1296.

-1480.
-8774.
-3702.
4335.
12801.
-9122.
12278.
-10440.
-4458.
7997.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxx*

1142.
1986.
1361.
-299.
-871.
-402.
-493.
-207.
208.
0.

8 69.
1451.
9 35.
-200.
-608.
-295.
-367.
-151.
151.
0.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

273.
535.
426.
-99.
-262.
-107.
-127.
- 56.
58.
0.

-5761.
-10301.
-7634.
160 8 .
3757.
14 7 4 .
166 3 .
66 1 .
-663.
0.

-5082.
14369.
18824.
25713.
16468.
8776.
-962.
13854.
-6110.
-6720.

-8011.
8473.
13057.
21945.
14320.
6320.
-4762.
11469.
-6954.
-6547.

-7021.
10531.
15531.
24219.
16076.
8872.
296 .
14742.
-5885.
-6718.

-4016.
737.
2135.
18731.
15598.
17150.
-946.
-2219.
1 875.
1 024.

-568.
-437.
4127.
4295.
3417.
-9127.
-5246.
762.
3605.
1475.

-712.
6624.
8283.
-6491.
-2828.
2054.
7472.
4711.
3944.
-7280.

-1725.
3607.
9 86.
7685.
-110.
-1205.
-984.
11487.
-15309.
-1937.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-990.
-2058.
-2474.
-2274.
-1757.
-2552.
-5058.
-3273.
-1070.
171.

-711.
-1496.
-1883.
-1832.
-1452.
-2147.
-4309.
-2779.
-893.
139.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-278.
-562.
-591.
-442.
-305.
-405.
-749.
-494.
-177.
32.

2929.
5896.
5767.
3768.
2148.
2457.
3800.
2385.
84 4 .
-172.

1940...
1941...
1942...
1943...
1944...
1945...
1946...
1947.. .
1948...
1949...




I
|
1

|
I
I
|

TABLE 342
REAL CAPITAL GAINS, PCE BASIS (EXCLUDING FARM HOUSEHOLDS)
1985 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS
------------ 1

YEAR

TOTAL

TOTAL
ASSETS
TOTAL

REAL
ESTATE

PHYSICAL

ASSETS

MACHINERY
AND
MOTOR
VEHICLES

LIVESTOCK

STORED
CROPS

HOUSEHOLD
EQUIPMENT
AND
FURNISHINGS

TOTAL

FINANCIAL

ASSETS

CURRENCY
AND BANK
DEPOSITS

U .S.
SAVINGS
BONDS

!
DEBT
INCLUDING
INVEST­
CCC
MENTS
LOANS
IN
COOPERA­
TIVES

1950...
195 1 . . .
1952...
1953...
1954...
1955...
1956...
1957...
1958...
1959...

37757.
26513.
-30792.
-23347.
8480.
6204.
19610.
15593.
37736.
1135.

35065.
24892.
-32057.
-23829.
8178.
5381.
17623.
13968.
36809.
-491.

37427.
26289.
-31042.
-23475.
8387.
5931.
18847.
14913.
37326.
329.

24858.
18551.
-4074.
-8181.
10331.
12997.
15311.
10147.
24057.
10019.

-1514.
1 936.
-945.
-969.
-230.
629.
163 5 .
-112.
2294.
16 7 5 .

11711.
3230.
-22539.
-11855.
-3275.
-2843.
1 366.
9927.
10614.
-11046.

2372.
2572.
-3485.
-2470.
156 1 .
-4852.
536.
-5049.
361.
-320.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-2362.
-1397.
-1014.
-354.
-209.
-551.
-1225.
-945.
-517.
-819.

-1869.
-1081.
-775.
-264.
-153.
-394.
-848.
-623.
-332.
-521.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-493.
-316.
-239.
-91.
-56.
-156.
-377.
-322.
-185.
-298.

2692.
1 621.
126 4 .
482.
302.
82 3 .
1987.
16 2 4 .
9 27.
1626.

1960.. .
1 96 1 . . .
1962...
1963...
1964...
1965...
1 96 6 . . .
1967.. .
1968...
1969...

-5029.
14884.
10841.
10445.
16471.
28542.
16977.
8065.
3464.
529 .

-6313.
13805.
9321.
8824.
15038.
26024.
13565.
4427.
-2082.
-5189.

-5713.
14277.
9963.
9461.
15566.
26916.
14711.
5586.
-386.
-3466.

-3279.
12097.
8597.
16025.
18632.
20543.
10929.
11400.
464.
-7649.

-1111.
6 29.
919.
-503.
596.
-167.
195.
10 2 1 .
-113.
-1187.

42.
79 0 .
1.
-6888.
-4966.
9040.
189 9 .
-2365.
948.
5535.

-1365.
7 61.
446.
8 27.
1 304.
-2501.
168 8 .
-4471.
-1685.
-164.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-600.
-472.
-642.
-638.
-528.
-891.
-1146.
-1158.
-1696.
-1723.

-357.
-267.
-358.
-354.
-283.
-473.
-607.
-601.
-868.
-882.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-242.
-205.
-284.
-284.
-245.
-418.
-539.
-557.
-828.
-842.

1284.
1079.
1520.
1622.
1433.
2518.
3412.
3638.
5546.
5718.

133.
1970...
197 1 . . .
25892.
1972...
67462.
104190.
1973...
1974...
13262.
1975...
71436.
101987.
19 7 6 . . .
46464.
1977. . .
1 9 7 8 . . . I 113479.
78588.
197 9 . . .1

-5664.
20285.
62374.
92630.
-8 9 .
61821.
93875.
35820.
99296.
59676.

-3924.
22006.
63908.
96221.
4125.
64576.
96161.
38596.
102509.
63976.

-1789.
17071.
44747.
76234.
34119.
62009.
96576.
39493.
77178.
55312.

116.
190 0 .
146 4 .
4 73.
10695.
9581.
3741.
2576.
2646.
3502.

-3898.
4925.
12405.
7366.
-43969.
7789.
-3896.
3650.
26701.
6098.

16 4 8 .
-1890.
5292.
12148.
3277.
-14803.
-259.
-7122.
-4016.
-937.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-1739.
-1721.
-1533.
-3591.
-4214.
-2755.
-2286.
-2777.
-3213.
-4299.

-886.
-831.
-722.
-1718.
-2086.
-1309.
-1013.
-1138.
-1314.
-1670.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-853.
-889.
-812.
-1873.
-2128.
-1446.
-1273.
-1639.
-1899.
-2629.

1980...
12870.
-82976.
1981. . .
-72563.
1982...
.1983. . .
-32407.
1984... -128029.
1985... -109782.

-7194.
-97358.
-82102.
-41014.
-135211.
-116206.

-2923.
-94437.
-80209.
-39295.
-133796.
-114870.

2882.
-70753.
-74720.
-37639.
-121853.
-98423.

-2733.
2974.
2310.
-651.
-3337.
-3815.

-10503.
-13303.
-2734.
-5283.
13.
-4703.

7431.
-13356.
-5066.
4278.
-8620.
-7929.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-4270.
-2921.
-1893.
-1718.
-1415.
-1336.

-1577.
-1000.
-642.
-570.
-406.
-374.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-2693.
-1921.
-1252.
-1148.
-1009.
-961.

R EAL C A P I T A L G A I N S IN C O N S T A N T D O L L A R S
INFLATION, THE IMPLICIT PRICE DEFLATOR




ARE
FOR

R E A L C A P I T A L G A I N S IN C U R R E N T D O L L A R S
PERSONAL CONSUMPTION EXPENDITURES.

(TABLE

341)

DEFLATED

BY

AN

INDEX

I

|
|
I

OF GENERAL

5797.
5607.
5088.
11560.
13351.
9614.
8112.
10644.
14183.
18912.
20064.
14382.
9539.
8607.
7182.
6424.

PRICE

9

BALANCE SHEET OF THE FARMING SECTOR, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
1985 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS
CLAIMS

ASSETS

LIABILITIES

NON-REAL-ESTATE
TOTAL

REAL
ESTATE

TOTAL
TOTAL

PHYSICAL

TOTAL

FINANCIAL

CCC

LOANS

DEBT
EXCLUDING
CCC LOANS

PROPRIETORS'
EQUITIES

1910
1911
1912
1913
1914
1915
1916
1917
1918
1919

494550.
500914.
504419.
513088.
512423.
522982.
511112.
493485.
465312.
466555.

374413.
381620.
381952.
385582.
380231.
389383.
372254.
348507.
327535.
345334.

120136.
119294.
122468.
127506.
132192.
133599.
138859.
144978.
137777.
121221.

106856.
106092.
109533.
114296.
118617.
117969.
122837.
129483.
120986.
104858.

13280.
13202.
12934.
13211.
13574.
15630.
16022.
15495.
16791.
16363.

494550.
500914.
504419.
513088.
512423.
522982.
511112.
493485.
465312.
466555.

67403.
71491.
76655.
80327.
82108.
84115.
84494.
84059.
78299.
83863.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

67403.
71491.
76655.
80327.
82108.
84115.
84494.
84059.
78299.
83863.

427146.
429422.
427764.
432762.
430315.
438867.
426618.
409426.
387013.
382692.

1920
1921
1922
1923
1924
1925
1926
1927
1928
1929

414231.
391232.
395733.
378118.
367928.
359216.
353149.
362538.
371939.
375695.

315533.
303171.
302705.
287141.
277470.
270376.
264526.
268088.
272151.
276046.

98698.
88062.
93027.
90977.
90459.
88840.
88623.
94450.
99788.
99649.

82154.
70102.
74955.
73446.
73383.
72030.
71655.
77132.
82238.
82415.

16544.
17960.
18073.
17531.
17075.
16811.
16969.
17318.
17550.
17234.

414231.
391232.
395733.
378118.
367928.
359216.
353149.
362538.
371939.
375695.

96414.
100863.
101442.
97895.
89103.
86758.
85670.
87498.
88552.
86934.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

96414.
100863.
101442.
97895.
89103.
86758.
85670.
87498.
88552.
86934.

317817.
290369.
294290.
280222.
278826.
272458.
267479.
275040.
283387.
288761.

1930
1931
1932
1933
1934
1935
1936
1937
1938
1939

357559.
333592.
301742.
308660.
307980.
322993.
328199.
324826.
321845.
329070.

268188.
254889.
228890.
234998.
228342.
233300.
234304.
231746.
226725.
223888.

89371.
78703.
72852.
73662.
79639.
89693.
93895.
93080.
95120.
105183.

72518.
62486.
56161.
55439.
59613.
68133.
72590.
71824.
73020.
81755.

16852.
16217.
16691.
18223.
20025.
21560.
21305.
21256.
22100.
23428.

357559.
333592.
301742.
308660.
307980.
322993.
328199.
324826.
321845.
329070.

87414.
90946.
89712.
78628.
73465.
72678.
68117.
67581.
70726.
69321.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
2076.
2278.
163 0 .
2464.
5008.
3538.

87414.
90946.
89712.
78628.
71472.
70465.
66591.
65188.
65765.
65887.

270144.
242646.
212030.
230032.
234515.
250315.
260082.
257245.
251120.
259749.

1940
1941
1942
1943
1944
1945
1946
1947

327493.
346741.
376252.
402111.
423804.
436787.
439458.
451215.
464654.
464350.

220031.
220942.
223318.
242439.
258719.
276511.
277884.
278001.
282209.
285397.

107461.
125799.
152934.
159671.
165085.
160276.
161574.
173214.
182445.
178953.

83112.
98294.
119512.
121766.
121749.
110934.
113057.
127220.
138531.
136122.

24349.
27505.
33422.
37905.
43336.
49342.
48517.
45994.
43914.
42831.

327493.
346741.
376252.
402111.
423804.
436787.
439458.
451215.
464654.
464350.

69758.
64105.
55370.
46347.
41718.
37070.
35356.
36296.
44283.
48809.

4789.
4252.
4903.
3482.
3850.
1470.
310.
373.
4996.
7493.

65007.
59867.
50498.
42942.
37930.
35627.
35051.
35941.
39286.
41355.

257735.
282636.
320883.
355764.
382086 .
399717.
404102.
414918.
420371.
415541.




TABLE 412
BALANCE SHEET OF THE FARMING SECTOR, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
1985 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS
ASSETS

CLAIMS
LIABILITIES

NON-REAL-ESTATE
YEAR
TOTAL

REAL
ESTATE

TOTAL
TOTAL

PHYSICAL

FINANCIAL

TOTAL

CCC LOANS

DEBT
EXCLUDING
CCC LOANS

PROPRIETORS1
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 ..........
1 9 5 7 ..........
1 9 5 8 ..........
1 9 5 9 ..........

507072.
543707.
521900.
504366.
515758.
521315.
534996.
550210.
597996.
594593.

312156.
332397.
330103.
323445.
334920.
348906.
365328.
376433.
401329.
413002.

194916.
211310.
191797.
180920.
180838.
172409.
169668
173777.
196667.
181591.

153513.
169512.
150543.
140121.
140030.
132955.
132591.
137202.
158568.
145501.

41403.
41799.
41254.
40799.
40808.
39454.
37077.
36574.
38099.
36090.

507072.
543707.
521900.
504366.
515758.
521315.
534996.
550210.
597996.
594593.

48043.
52110.
56113.
58849.
61015.
64008.
63757.
65608.
75600.
77257.

3341.
2337.
4592.
9190.
8489.
7057.
5716.
4330.
8689.
4005.

44752.
49820.
51521.
49682.
52568.
57003.
58082.
61331.
66943.
73297.

459029.
491597.
465787.
445516.
454743.
457307.
471238.
484602.
522396.
517336.

1 9 6 0 ..........
1 9 6 1 ..........
1 9 6 2 ..........
1 9 6 3 ..........
1 9 6 4 ..........
1 9 6 5 ..........
1 9 6 6 ..........
1 9 6 7 ..........
1 9 6 8 ..........
1 9 6 9 ..........

590869.
609940.
624753.
638719.
653963.
688340.
706315.
720272.
726173.
724555.

411596.
425284.
435755.
453603.
473891.
496089.
508811.
522338.
524276.
517907.

179273.
184657,
188998.
185117.
180072.
192251.
197504.
197933.
201897.
206648.

144074.
148105.
152076.
147885.
142210.
153486.
158880.
159070.
162816.
167487.

35199.
36552.
36922.
37231.
37862.
38765.
38624.
38863.
39081.
39161.

590869.
609940.
624753.
638719.
653963.
688340.
706315.
720272.
726173.
724555.

80443.
86538.
93921.
101045.
106935.
115397.
121306.
127079.
129670.
130514.

4699.
6224.
6734.
6202.
4898.
4374.
3480.
4143.
7453.
7138.

75791.
80348.
87210.
94862.
102059.
111032.
117841.
122970.
122258.
123386.

510427.
523402.
530832.
537674.
547028.
572944.
585009.
593193.
596503.
594041.

1 9 7 0 ..........
1 9 7 1 ..........
1 9 7 2 ..........
1 9 7 3 ..........
1974
...
1975
...
1 9 7 6 ..........
1 9 7 7 ..........
1 9 7 8 ..........
1 9 7 9 ..........

716737.
741751.
805687.
909977.
872721.
941065.
1031054.
1073899.
1184705.
1254919.

512987.
527661.
567268.
639909.
640178.
697903.
787431.
825771.
902796.
957442.

203750.
214090.
238420.
270068.
232543.
243162.
243623,
248129.
28 1 9 1 0 ,
297477.

164264.
173457.
194523.
223757.
189929.
199180.
199708.
205792.
236834.
252577.

39486.
40633.
43897.
46311.
42614.
43982.
43914.
42337.
45076.
44900.

716737.
741751.
805687.
909977.
872721.
941065.
1031054.
1073899.
1184705.
1254919.

128680.
134833.
141299.
146730.
148720.
156070.
168348.
186885.
198277.
210965.

4782.
5515.
4206.
1615.
625.
687.
1806.
7384.
8516.
6893.

123908.
129334.
137095.
145145.
148125.
155396.
166543.
179520.
189764.
204090.

588057.
606918.
664388.
763247.
724000.
784995.
862705.
887015.
986428.
1043954.

1 9 8 0 ..........
1 9 8 1 ..........
1 9 8 2 ..........
1 9 8 3 ..........
1984
...
1985
...

1239839.
1157813.
1077397.
1010907.
874610.
755786.

958633.
894079.
816779.
775228.
650944.
551863.

281207
263735
2 6 06 19
2 3 56 79
2236 66
20 3 9 2 3

238631.
220759.
216090.
193617.
181537.
165559.

42576.
42976.
44529.
42062.
42129.
38364.

1239839.
1157813.
1077397.
1010907.
874610.
755786.

209619.
216532.
223033.
213437.
202616.
189181.

6125.
9180.
16906.
11375.
8874.
16682.

203497.
207364.
206137.
202063.
193758.
172499.

1030220.
941282.
854365.
797470.
671994.
566606.




12

TABLE H I
FARM CASH FLOW AMD RETURNS FROM FACTORS (LABOR, MANAGEMENT, AND CAPITAL)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
LESS:
YEAR

GROSS
INCOME

NONFACTOR
OPERATING
EXPENSES

EQUALS:

LESS:

CASH CAPITAL
FLOW CONSUMP­
FROM
TION
FACTORS

EQUALS:
INCOME
FROM
FACTORS

HIRED
LABOR

I EQUALS >
1
INCOME INTEREST I INCOME REAL CAPITAL GAINS
( PCE BASIS) ON—
FROM
ON
I FROM
DEBT
I EQUITY
ASSETS
ASSETS
DEBT
1

EQUALS:

LESS:
OPERATORS'
LABOR AND
MANAGEMENT
(IMPUTED)

(EXCLUDING FARM HOUSEHOLDS)

LESS:

1910. . .
1911. . .
1912. . .
1 9 1 3 ...
19 1 A . . .
1 9 1 5 ...
1916. . .
1917. . .
1918. . .
1919. . .

7359.
6582.
7888.
7293.
7779.
8013.
8902.
13898.
15792.
16792.

1539.
1513.
1653.
1719.
1733.
1737.
2051.
2575.
3966.
3758.

5819.
5070.
6235.
5579.
6096.
6277.
6852.
11273.
12327.
12989.

301.
326.
351.
366.
375.
912.
968.
561.
719.
818.

5518.
9799.
5889.
5208.
5671.
5865.
6389.
10712.
11613.
12166.

755.
758.
789.
809.
809.
815.
909.
1127.
1337.
1515.

2893.
2831.
2973.
2978.
2986.
3020.
3319.
9287.
5197.
5892.

1920.
1155.
2122.
1926.
1881.
2030.
2166.
5298.
5128.
9809.

1 9 2 0 ...
1 9 2 1 ...
1 9 2 2 ...
1 9 2 3 ...
1 9 2 9 ...
1 9 2 5 ...
1 9 2 6 ...
1 9 2 7 ...
1 9 2 8 ...
1 9 2 9 ...

15977.
9909.
10355.
11955.
11632.
13900.
12627.
12972.
13095.
13099.

9007 .
2776.
2893.
3119.
3959.
3516.
3526.
3567.
3890.
3785.

11970.
6628.
7511 .
8391 .
8173.
9883.
9101.
8905.
9155.
9319.

963.
898.
790.
792.
797.
665.
682.
692.
702.
720.

11007.
5780.
6771.
7599.
7926.
9218.
8919.
8213.
8953.
8599.

1790.
1170.
1127.
1251.
1298.
1267.
1330.
1302.
1290.
1300.

6590.
9235.
9108.
9552.
9596.
9705.
9636.
9590.
9562.
9552.

2627.
375.
1536.
1796.
1632.
3297.
2952.
2370.
2600.
2793.

1003.
1039.
1026.
989.
991.
896.
875.
899.
891.
831.

1629.
-66 9.
510.
812.
690.
2351.
1578.
1522.
1759.
1911.

-10013.
-2530.
1026.
-2913.
-893.
-17 18 .
-9 8 9 .
1539.
1169.
661.

219.
-13 92 .
-370.
167.
199.
219.
-7 2 .
-213.
-7 2 .
-18 5.

1 9 3 0 ...
1 9 3 1 ...
1 9 3 2 ...
1 9 3 3 ...
1 9 3 9 ...
1 9 3 5 ...
1 9 3 6 ...
1 9 3 7 ...
1 9 3 8 ...
1 9 3 9 ...

10529.
8273.
5999.
6931.
7136.
9858.
9906.
11608.
9696.
10098.

3382.
2598.
2098.
2117.
2370.
2618.
2979.
3328.
3105.
3911.

7192.
5679.
3896.
9319.
9766.
7290.
6927.
8280.
6592.
6687.

765.
697.
600.
519.
516.
530.
578.
699.
678.
697.

6377.
9977.
3296 .
3795.
9250.
6710.
5899.
7636.
5919.
6090.

1177.
919.
669.
617.
679.
775.
868.
988.
979.
988.

9277.
3522.
2806.
2633.
2879.
3379.
3923.
3908.
3899.
3907.

923.
591.
-1 7 9 .
595.
697.
2561 .
1558.
2790.
1086.
1195.

789.
799.
677.
586.
527.
966.
938.
921.
921.
933.

139.
-20 9.
-856.
-9 2 .
169.
2095.
1121.
2319.
665.
712.

-19 93 .
-28 8 3 .
-32 25 .
1088.
680.
876.
1392.
-1595.
-87 7.
755.

-829.
-1 3 3 9 .
-8 7 6 .
178.
998.
180.
206.
85.
-8 9 .
0.

1990. . .
1991. . .
1 9 9 2 ...
1 9 9 3 ...
1 9 9 9 ...
1 9 9 5 ...
1 9 9 6 ...
1997. . .
1 9 9 8 ...
1 9 9 9 ...

10756.
13679.
19287.
22722.
23397.
29596.
28559.
31298.
35276.
29663.

3873.
9279.
5952.
6968.
6991.
7703.
8571.
10369.
11519.
10832.

6883.
9905.
13835.
16259.
16356.
16893.
19983.
20879.
23757.
18831.

661.
719.
1161.
1169.
1201.
1072.
931.
1237.
1697.
2022.

6222.
8686 .
12679.
15085.
15155.
15821.
19052.
19692.
22110.
16809.

1029.
1299.
1631.
2027.
2202.
2299.
2532.
2783.
2990.
2806.

9003.
9796.
6985.
8393.
9776.
10596.
11638.
12536.
12357.
11090.

1190.
2691.
9558.
9665.
3177 .
2976.
9882.
9323.
6763.
2913.

929.
953.
938.
902.
371 .
356.
369.
906.
957.
509.

761.
2188.
9120.
9263.
2806.
2620.
9513.
3917.
6306.
2909.

-10 18 .
1156.
1970.
3618.
2996.
1196.
-93 6.
2991.
-1597.
-1 9 9 8 .

372.
805.
870.
621.
379.
995.
797.
518.
199.
-3 9 .




375.
399.
930.
970.
989.
509.
559.
628.
696.
805.

1595.
756.
1692.
957.
1392.
1520.
1612.
9669.
9933.
9009.

1063.
661.
-38 5.
889.
-610.
295.
-1 0 9 8 .
-32 00 .
-3997.
216.

0.
82.
175.
125.
98.
292.
890.
1375.
1512.
1552.

TOTAL RETURN
FROM—
ASSETS

j

1

1
1

EQUITY

2983.
1816.
1737.
2315.
1271.
2325.
1067.
2098.
1132.
5025.

2608.
1999.
19 82 .
1971.
880.
2108.
1909 .
2899.
1998.
5772.

-73 86 .
-21 56 .
2562.
-61 7.
788.
1529.
1969.
3909.
3770.
3903.

-8170.
-95 8 7 .
1166.
-19 39 .
96.
851.
517.
2897.
2857.
2387.

-1020.
-2392.
-39 0 9 .
1633.
1377.
3937.
2900.
1195.
209.
1900.

-26 38 .
-9920.
-99 57 .
12 29 .
1297.
3151.
2668.
809.
-29 6.
1968.

172.
3798.
6527.
8283.
5673.
9121.
3996.
6819.
5166.
1915.

115.
9199.
6959.
8502.
5676.
9211.
9329.
6926 .
9903.
871.

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

LESS:
EQUALS:
LESS:
EQUALS:
I EQUALS:I
1
NONFACTOR
INCOME I HIRED OPERATORS'
INCOME INTEREST INCOME
CASH CAPITAL
ON
FROM
FROM
OPERATING
FLOW CONSUMP­
FROM I LABOR LABOR AND
EQUITY
DEBT
MANAGEMENT ASSETS
FROM
TION
EXPENSES
FACTORS 1
FACTORS
(IMPUTED)
LESS:

YEAR

GROSS
INCOME

(EXCLUDING FARM HOUSEHOLDS)

EQUALS:

LESS:

ASSETS

ASSETS

DEBT

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 ...
1 9 5 7 ...
1 9 5 8 ...
1 9 5 9 ...1

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

11794.
13818.
13969.
12837.
13220.
13482.
13853.
14564.
16200.
17203.

20129.
23135.
22312.
20107.
19490.
18480.
18603.
18680.
21147.
18914.

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

1 7 8 2 8 .I
2 0 4 2 3 .I
1940 1.!
17078.1
16361.1
15261.
15334.
1 5 2 5 0 .I
17617.
15178.

2811.
2921 .
2857 .
2736 .
2596.
2615.
2641.
2734.
2842.
2905.

10896.
11522.
11929.
11835.
12087.
10001.
9999.
9921.
10001.
10184.

4121.
5980.
4615.
2507 .
1678.
2645.
2694.
2595.
4774.
2089.

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

3562.
5329.
3892.
1778.
939.
1854.
1838.
1672.
3757.
941.

8210.
6184.
-8136.
-61 7 6 .
2127.
1418.
4740.
3870.
10395.
-1 4 2 .

630.
403.
321.
12 5 .
78.
217.
535.
450.
262.
469.

1 9 6 0 ...
1 9 6 1 ...1
1 9 6 2 ...
1 9 6 3 ...
1 9 6 4 ...
1 9 6 5 ...
1 9 6 6 ...
1 9 6 7 ...
1 9 6 8 ...
1 9 6 9 ...

36747.
38606.
40351.
41273.
40108.
44304.
48097.
47993.
49222.
53577.

17005.
17672.
18862.
19558.
19273.
20382.
22469.
23563.
23997.
25583.

19742.
20934.
21489.
21715.
20835.
23922.
25628.
24430.
25225.
27994.

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

15969.
17132.
17574.
17672.
16634.
19562.
21002.
19463.
19877.
22339.

3062.
3192.
3299.
3400.
3483.
3604.
3682.
3723.
3919.
4151.

9151 .
9597 .
10288.
9733.
10028.
10774.
11710.
10891.
12133.
12736.

3756.
4343.
3987 .
4539.
3123.
5184.
5610.
4849.
3825.
5452.

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

2488.
2996.
2509.
2885.
1320.
3198.
3396.
2389.
1182.
2550.

-1856.
4108.
2824.
2713.
4704.
8279.
4449.
1488.
-7 3 1 .
-19 01 .

377.
321.
461.
499.
448.
801.
1119.
1222.
1948.
2095.

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 ...

55769.
58872.
67658.
94991.
93567.
95423.
96975.
101694.
120509.
141555.

27165.
29057.
31648.
40311.
43771.
44933.
49827.
52497.
60394.
71598.

28604.
29815.
36010.
54680.
49796.
50490.
47148.
49197.
60115.
69957.

5890.
6331.
6721.
7540.
8928.
10604.
11794.
13166.
14348.
16297.

22714.
23484.
29289.
47140.
40868.
39886.
35354.
36031.
45767.
53660.

4312.
4342.
4528.
5154.
6076 .
6586.
7509.
7953.
8279.
8981.

13401.
13302.
13262.
15034.
15246.
16762.
17909.
18228.
18788.
21211.

5001.
5840.
11499.
26952.
19546.
16538.
9936.
9850.
18700.
23468.

3204.
3377.
3667.
4433.
5430.
6075.
7013.
8146.
9788.
12534.

1797.
2463.
7832.
22519.
14116.
10463.
2923.
1704.
8912.
10934.

-21 71 .
8139.
26031.
41059.
-44 .
32706.
52516.
21351.
63535.
41704.

2223.
2250.
2123.
5124.
6538.
5086.
4538.
6345.
9075.
13217.

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

138675.
153516.
148798.
138673.
162293.
153650.

76004.
77356.
74469.
75455.
78919.
75700.

62671.
76160.
74329.
63218.
83374.
77950.

17847.
19612.
19922.
19683.
19233.
18400.

44824.
56548.
54407.
43535.
64141.
59550.

9293.
8931.
10183.
9788.
10070.
10000.

22070.
21827.
23026.
18398.
19749.
18828.

13461.
25790.
21198.
15349.
34322.
30722.

15637.
19118.
20982.
20562.
20275.
19200.

-21 76 .
6672.
216.
-52 1 3 .
14047.
11522.

-55 67 .
-82306.
-73371.
-3 8 1 5 5 .
-130619.
-11 6 2 0 6 .

15528.
12159.
8524.
8007.
6938.
6424.




TOTAL RETURN
FROM—

REAL CAPITAL GAINS
(PCE BASIS) ON—

I

I
1

EQUITY

12331.
12164.
-3521.
-36 6 8 .
3805.
4063.
7434.
6465.
15169.
19 47 .

12402
11916.
-3 9 2 3 .
-4273.
31 45
3489.
7113.
5992.
14414
12 68 .

19 00 .
8451.
6811.
7252.
7827.
13 4 6 3 .
10059,
6337.
30 94 .
35 51 .

10 09 .
7425.
5793.
6096.
6472.
12278
8964.
5099.
2398.
2744.

28 29 .
13 97 9.
37 53 0,
68011,
19503
49 2 4 4 ,
6 2 45 2
31201
82236
65 1 7 2

1848.
12852.
35987.
68702.
20611.
48256.
59977.
29399.
81523.
65855.

7894
7784.
-56 51 6
-63475.
-64630.
-52173
-3 5 3 6 1 .
-22 80 5 .
-96 29 8 . -1 0 9 6 3 4 .
-9 8 2 6 0 .
-85483 .

13

14

REAL CAPITAL GAINS, PCE BASIS (EXCLUDING FARM HOUSEHOLDS)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
ph Vs i c a L

YEAR

TOTAL

TOTAL

REAL
ESTATE

MACHINERY
AND
MOTOR
VEHICLES

TOTAL
ASSETS

FINANCIAL ASSETS

ASSETS
LIVE­
STOCK

HOUSEHOLD
STORED EQUIPMENT
AND
CROPS
FURNISHINGS

TOTAL

CURRENCY
AND BANK
DEPOSITS

INVEST­
U .S .
MENTS
SAVINGS
IN
BONDS COOPERA­
TIVES

DEBT
INCLUDING
CCC
LOANS

1 9 1 0 ...
1 9 1 1 ...
1 9 1 2 ...
1 9 1 3 ...
1 9 1 4 ...
1 9 1 5 .. .
19 16 . . .
1917. . .
1918. . .
1919. . .

1063.
743.
-21 0.
1014.
-5 1 2 .
587.
-2 0 8 .
-18 25 .
-24 8 5 .
1768.

1063.
661.
-385.
889.
-610.
295.
-1098.
-32 00 .
-3997.
216.

1063.
677.
-3 5 2 .
910.
-5 9 4 .
343.
-93 3.
-2 9 3 9 .
-3 7 1 8 .
549.

1040.
590.
29.
310.
-471.
805.
-16 32 .
-2692.
-27 80 .
2528.

-1 1 .
-2 8 .
-4 5 .
-2 5 .
3.
2.
-44 .
93.
-5 2 .
-24 6.

201.
-194.
321.
398.
245.
-161.
-13 9.
195.
-7 7 9 .
-17 76 .

-168.
309.
-65 7.
227.
-370.
-3 0 3 .
883.
-535.
-1 0 7 .
43.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

0.
-16 .
-3 2 .
-2 1 .
-16 .
-4 8 .
-165.
-2 6 1 .
-2 7 9 .
-3 3 3 .

0.
-1 4 .
-27 .
-18 .
-14 .
• -40.
-1 4 0 .
-22 2.
-240.
-2 9 2 .

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

0.
-2 .
-5.
-3 .
-3.
-8.
-2 6 .
-3 8 .
-3 9 .
-41 .

0.
82.
175.
125.
98.
292.
890.
1375.
1512.
1552.

1 9 2 0 ...
1 9 2 1 ...
1 9 2 2 ...
1923. . .
1 9 2 4 ...
1 9 2 5 ...
1 9 2 6 ...
1 9 2 7 ...
1 9 2 8 ...
1 9 2 9 ...

-9794.
-3923.
656.
-2246.
-64 5.
-1499.
-10 6 1 .
1326.
1097.
476.

-10 01 3.
-2530.
1026.
-24 13 .
-84 3.
-1718.
-98 9.
1539.
1169.
661.

-9970.
-27 69 .
960.
-2383.
-80 8.
-1 6 7 6 .
-10 03 .
1496.
1155.
624.

-5166.
-18 14 .
-3 .
-2241.
-1 3 6 7 .
-1 0 1 8 .
-830.
553.
641.
627.

-243.
28.
164.
133.
34.
-6 0 .
-2 6 .
-4 2 .
-12 .
-1 4 .

-22 18 .
-599.
303.
-435.
-2 2 3 .
261.
248.
593.
581.
-3 8 .

-23 43 .
-384.
496.
160.
748.
-8 6 0 .
-3 9 4 .
392.
-5 4 .
49.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-4 3 .
239.
66.
-3 0 .
-36 .
-42 .
14.
42.
14.
37.

-37.
208.
57.
-2 5 .
-30.
-34 .
11.
34.
11.
28.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-5 .
31.
9.
-5.
-6 .
-8 .
3.
9.
3.
8.

219.
-13 92 .
-370.
167.
199.
219.
-72.
-213.
-7 2 .
-18 5.

1 9 3 0 ... |
1 9 3 1 ...I
1 9 3 2 ... 1
1 9 3 3 ..,
1 9 3 4 .. .
1 9 3 5 ...
1 9 3 6 .. .
1 9 3 7 .. .
1 9 3 8 ____
1 9 3 9 .. . |

-2772.
-4217.
-4101.
1266.
1128.
1056.
1547.
-1510.
-96 0.
755.

-1943.
-28 83 .
-3225.
1088.
680.
876.
1342.
-1595.
-8 7 7 .
755.

-21 08 .
-31 40 .
-33 81 .
1121.
784.
925.
1403.
-1 5 6 8 .
-90 3.
755.

-1006.
-15 81 .
-28 4 6 .
781.
-68 6.
671.
175.
-31 2.
-60 9.
-37 3.

142.
260.
116.
-3 5 .
3.
15.
-4 .
41.
60.
-3 7 .

-10 30 .
-683.
-2 2 7 .
-10 5.
-60 .
1353.
-288.
42.
208.
162.

-21 3.
-1136.
-425.
479.
1526.
-1114.
1519.
-1339.
-5 6 3 .
1003.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

164.
257.
156.
-3 3 .
-10 4.
-4 9 .
-6 1 .
-27.
26.

125.
188.
107.
-2 2 .
-73.
-36 .
-4 5 .
-19.
19.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

39.
69.
49.
-1 1 .
-31 .
-1 3 .
-1 6 .
-7.
7.

-829.
-13 34 .
-8 7 6 .
178.
448.
180.
206.
85.
-8 4 .

1940. . .
1941. . .
1 9 4 2 .. .
1 9 4 3 ...
1 9 4 4 ...
1 9 4 5 ...
1 9 4 6 ...
1 9 4 7 ...
1 9 4 8 .. .
1 9 4 9 ...

-6 4 6 .
1961.
2840.
4239.
2870.
1591.
-18 9.
3008.
-1 4 0 3 .
-1537.

-1 0 1 8 .
1156.
1970.
3618.
2496.
1146.
-9 3 6 .
2491.
-1597.
-14 98 .

-8 9 2 .
1437.
2343.
3992.
2802.
1608.
58.
3201.
-13 51 .
-1537.

-51 0.
101.
322.
3088.
2719.
3109.
-1 8 6 .
-4 8 2 .
431.
234.

-7 2 .
-6 0 .
623.
708.
596.
-1655.
-1031.
166.
828.
337.

-90 .
904.
1250.
-1070.
-493.
372.
1469.
1023.
906.
-16 66 .

-219.
492.
149.
1267.
-1 9 .
-219.
-193.
2494.
-35 16 .
-4 4 3 .

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-9 0 .
-2 0 4 .
-284.
-3 0 2 .
-253.
-389.
-847.
-60 4.
-2 0 5 .
32.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-3 5 .
-7 7 .
-89.
-7 3 .
-53 .
-73.
-147.
-1 0 7 .
-41.
7.

372.
805.
870.
621.
374.
445.
747.
518.
194.
-3 9 .




0.

-126.
-2 8 1 .
-37 3.
-3 7 5 .
-306.
-4 6 3 .
-99 4.
-7 1 1 .
-2 4 6 .
39.

0.

0.

0.

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

PHYSICAL ASSETS
YEAR

TOTAL
AS.SETS

TOTAL

HOUSEHOLD
STORED EQUIPMENT
CROPS
AND
FURNISHINGS

INVEST­
U .S .
MENTS
IN
SAVINGS
BONDS COOPERA­
TIVES

DEBT
INCLUDING
CCC
LOANS

TOTAL

REAL
ESTATE

MACHINERY
AND
MOTOR
VEHICLES

8210.
6189.
-8136.
-61 7 6 .
2127.
1918.
9790.
3870.
10395.
-19 2.

8763.
6531.
-78 7 9 .
-60 89 .
2181.
1569.
5070.
9131.
10591.
95.

5820.
9609.
-1039.
-21 2 0 .
2687.
3926.
9119.
2811.
6793.
2892.

-3 5 5 .
981.
-29 0.
-2 5 1 .
-60.
16 6 .
990.
-31 .
698.
989.

2792.
802.
-5720.
-3072.
-85 2.
-79 9.
367 .
2750.
2997 .
-3188.

555.
639.
-88 9.
-690.
906 .
-1279.
19 9.
-13 99 .
102.
-92 .

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-55 3.
-39 7.
-25 7.
-9 2 .
-59 .
-195.
-329.
-26 2.
-19 6.
-23 6.

-9 3 7 .
-26 9.
-197 .
-6 8 .
-90 .
-10 9.
-22 8.
-1 7 3 .
-9 9 .
-15 0.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-11 6.
-7 8 .
-61 .
-23 .
-15 .
-91 .
-10 1.
-89 .
-52 .
-8 6 .

630.
903.
321.
12 5.
78.
217.
535.
950.
262.
969.

-1856.
9108.
2829.
2713.
9709.
8279.
9999.
1988.
-73 1.
-1901.

-1680.
9299.
3018.
2909.
9869.
8563.
9825.
1877.
-13 6.
-12 7 0 .

-96 9.
3600.
2605.
9926.
5828.
6536.
3585.
3831.
163.
-2803.

-327.
187.
279.
-15 5.
186.
-5 3 .
69.
393.
-90 .
-93 5.

12.
235.
0.
-2 1 1 8 .
-1553.
2876.
623.
-79 5.
333.
2028.

-40 1.
227.
135.
259.
908.
-79 6.
559.
-1502.
-59 2.
-60 .

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-17 6.
-19 0.
-19 5.
-19 6.
-16 5.
-28 9.
-37 6.
-38 9.
-59 6.
-631.

-10 5.
-79 .
-1 0 9 .
-10 9.
-89 .
-15 1.
-1 9 9 .
-2 0 2 .
-30 5.
-32 3.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-71 .
-61 .
-86 .
-8 7 .
-77 .
-13 3.
-1 7 7 .
-18 7.
-29 1.
-30 8.

377.
321.
961.
999.
998.
801.
1119.
1222.
1998.
2095.

LIVE­
STOCK

TOTAL

CURRENCY
AND BANK
DEPOSITS

1 9 5 0 ...
1 9 5 1 ...
1 9 5 2 ...
1 9 5 3 ...
1 9 5 9 ...
1 9 5 5 ...
1 9 5 6 ...
1 9 5 7 ...
1 9 5 8 ...
1 9 5 9 ...

8890.
6587.
-7815.
-6 0 5 1 .
2205.
16 3 5 .
5275.
9320.
10656.
328.

1 9 6 0 ...
1 9 6 1 ...
1 9 6 2 ...
1 9 6 3 ...
1 9 6 9 ...
1 9 6 5 ...
1 9 6 6 ...
1 9 6 7 ...
1 9 6 8 ...
1 9 6 9 ...

-1979.
9929.
3289.
3211.
5152.
9080.
5568.
2710.
1217.
199.

1 9 7 0 ...
1 9 7 1 ...
1 9 7 2 ...
1 9 7 3 ...
1 9 7 9 ...
1 9 7 5 ...
1 9 7 6 ...
1 9 7 7 ...
1 9 7 8 ...
1 9 7 9 ...

51.
10389.
28155.
96182.
6995.
37793.
57059.
27696.
72610.
59921.

-2171.
8139.
26031.
91059.
-9 9 .
32706.
52516.
21351.
63535.
91709.

-15 0 5 .
8830.
26671.
92650.
2020.
39169.
53795.
23006.
65591.
99709.

-68 6.
6850.
18679.
33791.
16709.
32806.
59027.
23591.
99383.
38659.

99.
762.
611.
210.
5238.
5069.
2093.
1535.
1693.
2998.

-1995.
1976.
5177.
3265.
-2 1 5 3 3 .
9121 .
-2180.
2175.
17085.
9261.

632.
-75 8.
2209.
5385.
1605.
-7831.
-19 5.
-9295.
-2570.
-65 5.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-66 7.
-69 0.
-69 0.
-1592.
-2069.
-1957.
-1279.
-1655.
-2056.
-3005.

-39 0.
-3 3 9 .
-3 0 1 .
-7 6 2 .
-1022.
-69 2.
-56 7 .
-67 8.
-89 0.
-11 67 .

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-32 7.
-35 7.
-33 9.
-83 0.
-1092.
-76 5.
-71 2.
-9 7 7 .
-12 1 5 .
-1837.

2223.
2250.
2123.
5129.
6538.
5086.
9538.
6395.
9075.
13217.

9960.
1 9 8 0 ...
-70197.
1 9 8 1 ...
-6 9 8 9 7 .
1 9 8 2 ...
1 9 8 3 ...1 -30 19 8.
1 9 8 9 ...1 -123681.
1 9 8 5 ... -10 9 7 8 2 .

-55 67 .
-82306.
-73371.
-3 8 1 5 5 .
-13 0 6 1 9 .
-11 6 2 0 6 .

-22 62 .
-7 9 8 3 7 .
-7 1 6 7 9 .
-3 6 5 5 6 .
-129252.
-11 9 8 7 0 .

2230.
-59819.
-66779.
-3 5 0 1 6 .
-117715.
-98923.

-2115.
2515.
2065.
-60 6.
-3223.
-38 15 .

-81 29 .
-11296.
-29 9 3 .
-9919.
13 .
-9703.

5751.
-1 1 2 9 1 .
-9 5 2 7 .
3979.
-8327.
-7929.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-3305.
-2970.
-16 92 .
-15 99 .
-13 67 .
-1336.

-1221.
-895.
-57 3.
-53 1.
-39 2.
-37 9.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-2089.
-16 2 9 .
-1118.
-10 68 .
-97 5.
-96 1.

15528.
12159.
8529.
8007.
6938.
6929.

I

REAL CAPITAL GAIN IN CURRENT DOLLARS IS NOMINAL CAPITAL GAIN 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 IS THE JANUARY 1 CURRENT-DOLLAR AMOUNT OF EACH ASSET OR LIABILITY
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 ANNUAL-AVERAGE DOLLARS.
FOR YEARS BEFORE 1970 AND FOR 1 9 8 5 , CAPITAL GAINS ARE NOT ADJUSTED FOR INTER-SECTOR TRANSFERS.




15

16

BALANCE SHEET OF THE FARMING SECTOR, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
---------------------------------------------------ASSETS--------------- ' ---------------------------------

CLAIMS
LIA BILITIE S

NON-REAL-ESTATE
TOTAL

REAL
ESTATE

TOTAL
TOTAL

PHYSICAL

FINANCIAL

TOTAL

CCC LOANS

DEBT
EXCLUDING
CCC LOANS

PROPRIETORS1
EQUITIES

1910
1911
1912
1913
191<*
1915
1916
1917
1918
1919

39847.
40977.
42508.
44082.
44657.
47512.
52317.
59236.
64844.
74991.

30167.
31218.
32188.
33128.
33137.
35375.
38104.
41833.
45644.
55506.

9680.
9759.
10321.
10955.
11520.
12137.
14213.
17403.
19200.
19484.

8610.
8679.
9231.
9820.
10337.
10717.
12573.
15543.
16860.
16854.

1070.
1080.
1090.
1135.
1183.
1420.
1640.
1860.
2340.
2630.

39847.
40977.
42508.
44082.
44657.
47512.
52317.
59236.
64844.
74991.

5431.
5848.
6460.
6901.
7156.
7642.
8649.
10090.
10911.
13480.

xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx

5431.
5848.
6460.
6901.
7156.
7642.
8649.
10090.
10911.
13480.

34416.
35129.
36048.
37181.
37502.
39871.
43668.
49146.
53933.
61511.

1920
1921
1922
1923
1924
1925
1926
1927
1928
1929

67602.
58381.
57588.
55646.
54903.
54489.
53278.
53801.
54890.
54672.

51495.
45240.
44050.
42258.
41405.
41013.
39908.
39784.
40163.
40171.

16107.
13141.
13538.
13389.
13498.
13476.
13370.
14016.
14727.
14501.

13407.
10461.
10908.
10809.
10950.
10926.
10810.
11446.
12137.
11993.

2700.
2680.
2630.
2580.
2548.
2550.
2560.
2570.
2590.
2508.

67602.
58381.
57588.
55646.
54903.
54489.
53278.
53801.
54890.
54672.

15735.
15051.
14762.
14407.
13296.
13160.
12925.
12985.
13068.
12651.

xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx

15735.
15051.
14762.
14407.
13296.
13160.
12925.
12985.
13068.
12651.

51867.
43330.
42826.
41239.
41607.
41329.
40354.
40816.
41822.
42021.

1930
1931
19 32
1933
19 34
1935
1936
1937
1938
1939

48799.
40729.
33987.
35401.
37095.
39700.
41284.
41261.
40485.
41394.

36602.
31120.
25781.
26952.
27503.
28676.
29473.
29437.
28520.
28163.

12197.
9609.
8206.
8448.
9592.
11025.
11811.
11823.
11965.
13231.

9897.
7629.
6326.
6358.
7180.
8375.
9131.
9123.
9185.
10284.

2300.
1980.
1880.
2090.
2412.
2650.
2680.
2700.
2780.
2947.

48799.
40729.
33987.
35401.
37095.
39700.
41284.
41261.
40485.
41394.

11930.
11104.
10105.
9018.
8849.
8933.
8568.
8584.
8897.
8720.

xxxxxxxx
xxxxxxxx
xxxxxxxx
xxxxxxxx
250.
280.
205.
313.
630.
445.

11930.
11104.
10105.
9018.
8609.
8661.
8376.
8280.
8273.
8288.

36869.
29625.
23882.
26383.
28247.
30767.
32716.
32676.
31589.
32674.

1940
1941
19 42
19 43
19 44
1945
1946
1947
1948
1949

43013.
49746.
59316.
68021.
75175.
82326.
92290.
101614.
107132.
106647.

28899.
31698.
35206.
41011.
45892.
52117.
58358.
62606.
65067.
65547.

14114.
18048.
24110.
27010.
29283.
30209.
33932.
39008.
42065.
41100.

10916.
14102.
18841.
20598.
21596.
20909.
23743.
28650.
31940.
31263.

3198.
3946.
5269.
6412.
7687.
9300.
10189.
10358.
10125.
9837.

43013.
49746.
59316.
68021.
75175.
82326.
92290.
101614.
107132.
106647.

9162.
9197.
8729.
7840.
7400.
6987.
7425.
8174.
10210.
11210.

629.
610.
773.
589.
683.
277.
65.
84.
1152.
1721.

8538.
8589.
7961.
7264.
6728.
6715.
7361.
8094.
9058.
9498.

33851.
40549.
50587.
60181.
67775.
75339.
84865.
93440.
96922.
95437.




BALANCE SHEET OF THE FARMING SECTOR, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
ASSETS

CLAIMS
NON-REAL-ESTATE

TOTAL

LIABILITIES

REAL
ESTATE

TOTAL
TOTAL

PHYSICAL

FINANCIAL

123256.
136777.
139556.
131162.
139816.
138132.
196299.
159393.
170207.
172958.

75877.
83619.
85107.
89113.
87596.
92999.
99902.
105630.
119230.
120136.

97379.
53158.
99999.
97099.
97270.
95683.
96397.
98763.
55977.
52822.

37315.
92693.
38813.
36939.
36603.
35229.
36258.
38500.
95133.
92329.

10069.
10515.
10636.
10610.
10667.
10959.
10139.
10263.
10899.
10998.

1960
1961
19 62
1963
1969
19 65
1966
1967
1968
1969

179779.
182873.
190669.
198351.
206007.
222065.
239807.
296899.
260228.
271627.

121750.
127509.
132985.
190869.
199282.
160093.
169199.
179019.
187877.
199157.

53029.
55369.
57679.
57987.
56725.
62022.
65658.
67835.
72351.
77970,

92617.
99905.
96911.
95925.
99798.
99516.
52818.
59516.
58396.
62789.

10912.
10959.
11268.
11562.
11927.
12506.
12890.
13319.
19005.
19681.

1970
1971
1972
1973
1979
1975
1976
1977
1978
1979

281186.
309257.
393993.
922960.
995719.
513893.
593896.
660270.
788215.
922965.

201252.
216990.
291811.
297080.
326959.
381071.
953529.
507712.
600653.
709177.

79939,
87817,
1016 32 ,
125380
11 87 65
13 27 72
190317
152558
1875 62
2187 88

69993.
71150.
82920.
103880.
97001.
108757.
115029.
126528.
157572.
185765.

15991.
16667.
18712.
21500.
21769.
29015.
25293.
26030.
29990.
33023.

1980
1981

1007715.
1010370.
983522.
959869.
859368.
766930.

779156.
780221.
795611.
736085.
639600.
560000.

2 2 85 59
2301 99
237911
22 37 79
2197 68
2 0 69 30

193959.
192696.
197262.
183891.
178373.
168000.

39605.
37503.
90699.
39938.
91395.
38930.

1950
1951
1952
1953
1959
1955
1956
1957
1958
1959

1




TOTAL

1
1
1

|
!
i

CCC LOANS

DEBT
EXCLUDING
CCC LOANS

PROPRIETORS'
EQUITIES

123256.
136777.
139556.
131162.
139816.
138132.
196299.
159393.
170207.
172958.

11678.
13109.
19967.
15309.
15999.
16960.
17935.
18910.
21518.
22973.

812.
588.
1189.
2390.
2219.
1870.
1563.
1215.
2973.
1165.

10878.
12533.
13283.
12920.
13791.
15109.
15883.
17210.
19059.
21321.

111578.
123668.
120089.
115858.
118867.
121172.
128869.
135983.
198689.
150985.

179779.
182873.
190669.
198351.
206007.
222065.
239807.
296899.
260228.
271627.

23795.
25996.
28663.
31379.
33686.
37228.
90327.
93552.
96968.
98928.

1390.
1866.
2055.
1926.
1593.
1911.
1157.
1920.
2671.
2676.

22919.
29090.
26615.
29959.
32150.
35820.
39175.
92199.
93812.
96256.

150989.
156927.
162001.
166972.
172321.
189837.
199980.
203297.
213760.
222699.

281186.
309257.
393993.
922960.
995719.
513893.
593896.
660270.
788215.
922965.

50983.
55307.
60232.
68120.
75955.
85218.
96962.
119903.
131919.
155160.

1876.
2262.
1793.
750.
319.
375.
1090.
9590.
5666.
5070.

98611.
53051.
58990.
67389.
75651.
89850.
95922.
110375.
126255.
150109.

230703.
298950.
283211.
359390.
369769.
928625.
996889.
595367.
656296.
767805.

1007715.
1010370.
983522.
959869.
859368.
766930.

170379.
188957.
203600.
202660.
199085.
191970.

9978.
8011.
15933.
10801.
8719.
16928.

165398.
180957.
188176.
191860.
190381.
175092.

837391.
821913.
779922.
757209.
660283.
579960.

17

18

,

O U T S T A N D IN G FARM R E AL E S T A T E D E B T DECEMBER 31 (E X C L U D IN G FARM H O U SEH O LD S)
AMOUNTS IN MILLIONS OF DOLLARS
COOPERATIVE FARM CREDIT SYSTEM
TOTAL

BANKS
TOTAL

FEDERAL
LAND
BANKS

JolN T STOCK
LAND
BANKS

INDIVIDUALS
AND
OTHERS

2.
7.
50.

359.
901.
960.
999.
560.
690.
720.
799.
851.
815.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

2199.
2902.
2615.
2839.
2992.
3109.
3379.
3793.
9121.
9952.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

65.
71.
183.
329.
373.
957.
529.
561.
550.
539.

1008.
1197.
1301.
1998.
1629.
1697.
1776.
1817.
1788.
1771.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

5976.
6036.
5796.
5268.
9520.
9152.
3926.
3910.
3961.
3913.

1002.
988.
960.
1053.
1630.
1769.
1798.
1780.
1798.
1682.

xxxxxx
xxxxxx
xxxxxx

507.
962.
398.
395.
232.
168.
136.
112.
96.
77.

1795.
1703.
1587.
1920.
1088.
930.
899.
827.
822.
823.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

8.
27.

3818.
3669.
3396.
2960.
2963.
2272.
2092.
1993.
1916.
1859.

1699.
1588.
1953.
1237.
1031.
921.
832.
755.
737.
765.

576.
536.
960.
366.
296.
209.
125.
91.
66.
50.

61.
97.
31.
9.
5.
3.

853.
897.
882.
890.
799.
761.
757.
816.
880.
990.

55.
98.
135.
198.
167.
157.
169.
168.
167.
171.

1808.
1769.
1679.
1612.
1529.
1585.
1711.
1759.
1877.
1950.

1910
1911
1912
1913
1919
1915
1916
1917
1918
1919

2997.
3289.
3639.
3939.
9177.
9399.
9875.
5971.
5973.
7071.

900.
985.
569.
606.
629.
650.
782.
899.
862.
1008.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

39.
138.
296.

1920
1921
1922
1923
1929
19 25
1926
1927
1928
1929

8559.
8956.
9025.
8929.
8295.
8127.
8082.
8169.
8169.
8058.

1211.
1289.
1261.
1162.
1009.
986.
958.
918.
876.
839.

1930
1931
1932
1933
1939
1935
1936
1937
1938
1939

7869.
7610.
7089.
6931.
6397.
6212.
5988.
5820.
5673.
5512.

1990
1991
1992
1993
1999
1995
1996
1997
1998
1999

5959.
5381.
5090.
9592.
9210.
9065.
9172.
9305.
9990.
9719.




FEDERAL
FARM
MORTGAGE
CORPORATION

i

LIFE
| FARMERS
INSURANCE|
HOME
COMPANIES! ADMINISI TRATION

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

33.
131.
296.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

358.
939.
718.
996.
1197.
1292.
1929.
1519.
1539.
1590.

293.
362.
535.
668.
773.
836.
895.
958.
990.
1006.

793.
787.
799.
595.
918.
908.
908.
919.
939.
997.

1509.
1951.
1358.
1957.
2378.
2601.
2638.
2581.
2993.
2356.

956.
951.
909.
381.
389.
933.
582.
715.
762.
788.

2282.
2171.
1995.
1611.
1331.
1129.
958.
897.
809.
815.

59.
516.
665.
709.
690.
698.
597.

1
1
0
0

.
.
.
.

OUTSTANDING FARM REAL ESTATE DEBT, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS
COOPERATIVE FARM CREDIT SYSTEM
TOT At

TOTAL

FEDERAL
LAND
BANKS

BANKS

JOINTSTOCK
LAND
BANKS

LIFE
INSURANCE
COMPANIES

FARMERS
HOME
ADMINIS­
TRATION

INDIVIDUALS
AND
OTHERS

xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

1147.
1309.
1460.
1615.
1757.
1954.
2140.
2239.
2320.
2470.

218.
247.
281.
300.
323.
355.
400.
470.
530.
592.

2142.
2365.
2578.
2743.
2888.
3072.
3337.
3515.
3792.
4142.

2232.
2472.
2676.
2914.
3283.
3784.
4397.
4981.
5462.
5977 .

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

2615.
2789.
3002.
3358.
3822.
4295.
4666.
4959.
5167.
5222.

636.
836.
936.
1040.
1145.
1343.
1486.
1645.
1845.
2029.

4387.
4714.
5155.
5712.
6431.
7171.
7618.
8205.
9128.
9902.

6420.
7094.
8165.
9849.
12187.
14533.
16881.
19640.
22686.
27322.

6420.
7094.
8165.
9849.
12187.
14533.
16881.
19640.
22686.
27322.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

5122.
5090.
5174.
5480.
5799.
6198.
6828.
8150.
9698.
11278.

2180.
2343.
2547.
2712.
2899.
3044.
3311.
3613.
3747.
6467.

10308.
10806.
11607.
12914.
14363.
15764.
17258.
19556.
21712.
25660.

33208.
40254.
43859.
44923.
45404.
41214.

33208.
40254.
43859.
44923.
45404.
41214.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

11991.
12136.
11898.
11834.
11588.
11003.

7021.
7965.
8282.
8830.
9306.
9658.

27801.
29291.
29527.
29847.
27634.
25160.

1950
1951
1952
1953
1954
1955
1956
1957
1958
1959

5184.
5657.
6161.
6602.
7058.
7750.
8486.
9012.
9671.
10584.

836.
864.
910.
931.
994.
1096.
1121.
1142.
1228.
1334.

841.
872.
932.
1013.
1096 .
1273.
1488.
1646.
1801.
2046 .

804.
844.
912.
998.
1085.
1273.
1488.
1646.
1801.
2046.

1960
1961
1962
1963
1964
1965
1966
1967
1968
1969

11269.
12259.
13424.
14922.
16835.
18921.
20645.
22540.
24605.
26246.

1399.
1448.
1655.
1898.
2155.
2327.
2477.
2750.
3002.
3116.

2232.
2472.
2676.
2914.
3283.
3784.
4397 .
4981.
5462.
5977.

1970
1971
1972
1973
1974
1975
1976
1977
1978
1979

27360.
29065.
31739.
35800.
40561.
45161.
50352.
57953.
65560.
78526.

3329.
3731.
4246.
4844.
5312.
5621.
6075.
6994.
7717.
7798.

1980
1981

87945.
97255.
101194.
103928.
103244.
97450.

7924.
7610.
7628.
8494.
9312.
10414.




FEDERAL
FARM
MORTGAGE
CORPORATION
37.
28.
20.

15 .
11 .

XXXXXX

19

,

TABLE 531

OUTSTANDING FARM NON-REAL-ESTATE DEBT DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS
DEBT EXCLUDING CCC LOANS

DEBT INCLUDING
CCC LOANS

COOPERATIVE FARM CREDIT SYSTEM
YEAR
TOTAL

CCC
LOANS

TOTAL

BANKS
TOTAL

PRODUCTION
FEDERAL
CREDIT
INTERMEDIASSOCIAATE CREDIT
TIONS
BANKS

FARMERS
HOME
ADMINIS­
TRATION

INDIVIDUALS
AND
OTHERS

1 9 1 0 ..........
1 9 1 1 ..........
1 9 1 2 ..........
1 9 1 3 ..........
1 9 1 4 ..........
1 9 1 5 ..........
1 9 1 6 ..........
1 9 1 7 ..........
1 9 1 8 ..........
1 9 1 9 ..........

2483.
2559.
2821.
2962.
2979.
3242.
3773.
4620.
4939.
6409.

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

2483.
2559.
2821.
2962.
2979.
3242.
3773.
4620.
4939.
6409.

1266.
1305.
1438.
1510.
1518.
1653.
1923.
2355.
2517.
3267.

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

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

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

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

1218.
1255.
1383.
1452.
1461.
1590.
1850.
2265.
2422.
3142.

1 9 2 0 ..........
1 9 2 1 ..........
1 9 2 2 ..........
1 9 2 3 ..........
1 9 2 4 ..........
1 9 2 5 ..........
1 9 2 6 ..........
1927 ..........
1 9 2 8 ..........
1 9 2 9 ..........

7181.
6095.
5737.
5483.
5001.
5033.
4842.
4820.
4904.
4593.

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

7181.
6095.
5737.
5483.
5001.
5033.
4842.
4820.
4904.
4593.

3660.
3104.
2921.
2784.
2530.
2553.
2429.
2414.
2456.
2356.

******
******
******
9.
18.
25.
38.
42.
43.
47.

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

******
******
******
9.
18 .
25.
38.
42.
43.
47.

******
3.
3.
2.
2.
2.
2.
2.
2.
6.

3521.
2988.
2813.
2688.
2452.
2453.
2373.
2362.
2403.
2184.

1 9 3 0 ..........
1 9 3 1 ..........
1 9 3 2 ..........
1 9 3 3 ..........
1 9 3 4 ..........
1 9 3 5 ..........
1936 ..........
1937 ..........
1 9 3 8 ..........
1 9 3 9 ..........

4066.
3494.
3021.
2586.
2501.
2721.
2581.
2764.
3224.
3207.

******
******
******
******
250.
280.
205.
313.
630.
445.

4066.
3494.
3021.
2586.
2251.
2441.
2376.
2451.
2594.
2763.

1995.
1560.
1203.
864.
594.
695.
587.
646.
746.
851.

62.
71.
79.
60.
113.
135.
140.
171.
173.
179.

******
******
******
******
58.
89.
100.
132.
141.
147.

62.
71.
79.
60.
55.
46.
40.
39.
32.
32.

7.
43.
100.
207.
180.
246.
283.
269.
309.
368.

2002.
1820.
1638.
1456.
1365.
1365.
1365.
1365.
1365.
1365.

1 9 4 0 ..........
1 9 4 1 ..........
1 9 4 2 ..........
1 9 4 3 ..........
1 9 4 4 ..........
1 9 4 5 ..........
1 9 4 6 ..........
1 9 4 7 ..........
1 9 4 8 ..........
1 9 4 9 ..........

3708.
3815.
3689.
3248.
3190.
2923.
3253.
3869.
5720.
6496.

629.
610.
773.
589.
683.
277.
65.
84.
1152.
1721.

3079.
3206.
2916.
2659.
2507.
2645.
3188.
3784.
4568.
4775.

930.
1014.
873.
885.
897.
977.
1218.
1505.
1839.
1936.

196.
216.
214.
223.
210.
213.
253.
315.
408.
423.

164.
179.
176.
189.
180.
187.
221.
277.
352.
372.

32.
37.
38.
34.
30.
26.
32.
38.
56.
51.

406.
429.
464.
459.
399.
363.
352.
326.
301.
305.

1547.
1547.
1365.
1092.
1001.
1092.
1365.
1638.
2020.
2111.




TABLE 531
OUTSTANDING FARM NON-REAL-ESTATE DEBT, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS
DEBT EXCLUDING CCC LOANS

DEBT INCLUDING
CCC LOANS

COOPERATIVE FARM CREDIT SYSTEM

YEAR
TOTAL

CCC
LOANS

TOTAL

BANKS
TOTAL

PRODUCTION
FEDERAL
CREDIT
INTERMEDIASSOCIAATE CREDIT
TIONS
BANKS

FARMERS
HOME
ADMINIS­
TRATION

INDIVIDUALS
AND
OTHERS

1 9 5 0 ..........
1 9 5 1 ..........
1 9 5 2 ..........
1 9 5 3 ..........
1 9 5 4 .....
1 9 5 5 ..........
1956 ..........
1957 ..........
1 9 5 8 ..........
1 9 5 9 ..........

6493.
7451.
8306 .
8701.
8892.
9210.
8949.
9399.
11847.
11889.

812.
588.
1184.
2390.
2219.
1870.
1563.
1215.
2473.
1165.

5682.
6864.
7123.
6311.
6672.
7340.
7386 .
8183.
9374.
10724.

2385.
2949.
3019.
2611.
2772.
3126.
3100.
3407.
3932.
4554.

495.
617 .
658.
584.
612.
681 .
731 .
917.
1154.
1397.

433.
539.
575.
520.
554.
619.
671 .
850.
1070.
1307.

62.
78.
83.
64.
58.
62.
60.
67.
84.
90.

290.
268.
297.
331.
367.
357.
379.
383.
357.
350.

2512.
3030.
3149.
2785.
2921.
3176.
3176.
3476.
3931.
4423.

1 9 6 0 ..........
1 9 6 1 ..........
1 9 6 2 ..........
1 9 6 3 ..........
1 9 6 4 ..........
1 9 6 5 .....
1 9 6 6 ..........
1 9 6 7 ..........
1 9 6 8 ..........
1 9 6 9 ..........

12526.
13686.
15239.
16457.
16850.
18306.
19683.
21012.
21863.
22681.

1390.
1866.
2055.
1926.
1543.
1411.
1157.
1420.
2671.
2676.

11136.
11821.
13184.
14531.
15308.
16896.
18525.
19592.
19192.
20006 .

4717.
5023.
5651 .
6286 .
6606 .
7255.
8064.
8762.
9185.
9762.

1509.
1674.
1875.
2098.
2311.
2616.
3052.
3553.
3853.
4533.

1421.
1575.
1765.
1972.
2186.
2476.
2895.
3377.
3673.
4315.

88.
99.
110.
126.
125.
140.
157 .
176.
180.
218.

369.
437 .
489.
523.
567.
631.
647.
702.
723.
691.

4541.
4687.
5169.
5624.
5824.
6394.
6762.
6575.
5431.
5020.

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 ..........

23123.
26242.
28493.
32320.
35394.
40057.
46610.
56950.
66359.
76634.

1876.
2262.
1793.
750.
319.
375.
1040.
4540.
5666.
5070.

21247.
23980.
26699.
31570.
35076.
39682.
45570.
52410.
60694.
71563.

10491.
11811.
13528.
16223.
17235.
19051.
22002.
24295.
26718.
29327.

5303.
6072.
6594.
7847.
9524.
10689.
12127.
13352.
14878.
18053.

5083.
5835.
6343.
7516.
9150.
10339.
11759.
12978.
14369.
17388.

220.
237.
251.
331.
374.
350.
368.
374.
509.
665.

700.
678.
686.
772.
919.
1560.
1652.
2764.
5087.
7905.

4753.
5419.
5891.
6728.
7398.
8382.
9789.
11999.
14011.
16278.

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

82429.
91702.
102406.
98731.
95842.
94518.

4978.
8011.
15433.
10801.
8719.
16928.

77451.
83691.
86973.
87930.
87123.
77590.

29989.
31301.
34322.
37075.
37619.
33737.

19749.
21268.
20524.
19393.
18083.
14025.

18939.
20355.
19653.
18543.
17208.
13488.

810.
913.
871.
850.
875.
537.

10346.
12718.
12988.
12896.
13781.
14758.

17367.
18404.
19139.
18566.
17640.
15070.




|
I
I
I
1
I
|
I
I

22
PRICE INDEX USED IN COMPUTING VALUES IN 1985 DOLLARS (TABLES 1 0 1 ,
INDEX,

1985 = 100

PERCENTAGE CHANGE
FROM PREVIOUS YEAR

112,

342,

INDEX,

AND 4 1 2 ) AND REAL CAPITAL GAINS (TABLE 3 4 1 )

1985 = 100

PERCENTAGE CHANGE
FROM PREVIOUS YEAR

YEAR

YEAR
ANNUAL
AVERAGE

DECEMBER
31

ANNUAL
AVERAGE

ANNUAL
AVERAGE

DECEMBER
31

1 9 1 0 ...
1 9 1 1 ...
1 9 1 2 ...
1 9 1 3 ...
1 9 1 4 ...
1 9 1 5 ...
1 9 1 6 ...
1 9 1 7 ...
1 9 1 8 ...
1 9 1 9 ...

8 .1
8 .1
8 .3
8 .5
8 .7
8 .7
9 .4
1 1 .0
13 .0
1 4 .9

8 .1
8 .2
8 .4
8 .6
8 .7
9.1
10 .2
12 .0
13 .9
16.1

xxxxx
0 .0
3 .6
2 .4
1 .3
1 .0
7 .6
1 7 .4
17 .4
14 .9

0.0
1 .5
3 .0
2 .0
1 .4
4 .2
1 2 .7
17 .3
1 6 .1
15 .3

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

1 9 2 0 ...
1 9 2 1 ...
1 9 2 2 ...
1 9 2 3 ...
1 9 2 4 ...
1 9 2 5 ...
1 9 2 6 ...
1 9 2 7 ...
1 9 2 8 ...
1 9 2 9 ...

1 7 .3
1 5 .4
14 .4
14 .7
1 4 .7
1 5 .1
1 5 .2
1 5 .0
1 4 .8
14 .8

16 .3
1 4 .9
14 .6
1 4 .7
14 .9
15 .2
15 .1
14 .8
14 .8
14 .6

15 .8
-1 0 .7
-6 .3
1 .8
0 .2
2 .5
1 .0
-1 .9
-1 .3
0.0

1.5
-8 .6
-2 .5
1.1
1 .4
1 .7
-0 .5
-1 .6
-0 .6
-1 .4

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

1 9 3 0 ...
1 9 3 1 ...
1 9 3 2 ...
1 9 3 3 ...
1 9 3 4 ...
1 9 3 5 ...
1 9 3 6 ...
1 9 3 7 ...
1 9 3 8 ...
1 9 3 9 ...

14 .4
1 2 .9
11 .5
11 .1
11 .9
1 2 .2
1 2 .4
12 .8
1 2 .6
1 2 .5

13 .6
12 .2
11 .3
11 .5
12 .0
12 .3
12.6
12 .7
12 .6
12 .6

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

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

1 9 4 0 ...
1 9 4 1 ...
1 9 4 2 ...
1 9 4 3 ...
1 9 4 4 ...
1 9 4 5 ...
1 9 4 6 ...
1 9 4 7 ...
1 9 4 8 ...
1 9 4 9 ...

12 .7
13.6
15.1
16 .5
1 7 .4
18 .1
19 .7
21 .7
23 .0
22 .9

13 .1
14 .3
1 5 .8
1 6 .9
1 7 .7
1 8 .8
2 1 .0
2 2 .5
2 3 .1
23 .0

1.3
7 .4
10 .5
9 .3
5.7
4 .0
8 .4
1 0 .5
5 .8
-0 .4

4 .4
9 .2
9.9
7 .3
4 .9
6 .3
1 1 .4
7 .2
2 .4
-0 .4

1. 0
0. 0

-1 .0

DECEMBER I ANNUAL
31
AVERAGE

DECEMBER
31

2 3 .4
24 .8
2 5 .4
2 5 .9
26 .0
26 .4
26 .9
27 .7
2 8 .2
2 8 .9

2 4 .3
2 5 .2
25 .8
26 .0
26 .1
2 6 .5
2 7 .3
28 .1
2 8 .5
29 .1

2 .3
6 .1
2 .2
2 .1
0 .3
1 .4
2 .0
3 .0
1.9
2 .2

5 .8
3 .5
2 .5
0 .9
0 .5
1 .4
3 .2
2 .6
1.4
2 .2

2 9 .4
29 .8
3 0 .3
3 0 .7
31 .3
31 .8
32 .8
33 .6
35 .1
3 6 .6

2 9 .6
30 .0
3 0 .5
31 .1
3 1 .5
3 2 .3
3 3 .2
3 4 .3
35 .8
3 7 .5

1.9
1 .2
1 .8
1.5
1 .7
1 .7
3.1
2 .5
4 .5
4 .3

1 .7
1.4
1 .8
1 .8
1 .4
2 .4
3 .0
3.1
4.6
4 .6

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

38 .3
4 0 .1
41 .7
4 4 .3
49 .0
52 .9
55 .9
5 9 .6
64 .0
69 .9

3 9 .2
4 1 .0
4 2 .6
4 6 .4
51 .1
54 .6
57 .6
6 1 .5
6 6 .5
7 3 .5

4.6
4 .7
4 .0
6 .2
10 .5
8 .0
5.7
6 .5
7 .3
9 .2

4 .6
4 .6
3 .9
8 .9
10 .0
6 .9
5 .5
6 .7
8 .2
1 0 .5

1980.
1981. t ,
1982. . .
1983. . .
1984.
1985.

7 7 .4
8 4 .5
8 9 .4
93 .0
96 .6
10 0.0

8 1 .3
8 7 .3
9 1 .3
95 .0
9 8 .3
1 0 1 .5

1 0 .7
9 .2
5.7
4.1
3.8
3 .5

10 .5
7 .4
4 .6
4 .0
3 .5
3 .3

.
.
.
,
.
.
.

.
,
,
.
.
.
.

,.
. ,
. ,
.
.
,
,

.
.
.
,

L

FOR 1 9 2 9 - 1 9 8 5 , THE INDEX SHOWN IS BASED ON THE IMPLICIT PRICE DEFLATOR FOR PERSONAL CONSUMPTION EXPENDITURES ( 1 9 8 2 BASE).
DEFLATOR VALUES FOR DECEMBER 31 ARE ESTIMATED AS THE AVERAGE OF THE TWO ADJOINING QUARTERS (FOR 1 9 2 9 - 1 9 4 5 , THE TWO ADJOINING YEARS).
FOR YEARS BEFORE 1 9 2 9 , THE INDEX SHOWN IS BASED ON THE CONSUMER PRICE INDEX ADJUSTED TO THE LEVEL OF THE PCE DEFLATOR IN 1 9 2 9 .




FARM DEBT OUTSTANDING
Total debt
541
542

Annual, USDA series including farm households...............................
Quarterly, reports from lending institutions................................

24
25

Real estate and non-real-estate debt
551
552

Annual, USDA series including farm households...............................
Quarterly, reports from lending institutions................................

28
29

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 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 3.
Quarterly data are from:
Quarterly reports of condition, all insured commercial banks;
"Summary Report of Condition and Performance of the Farm Credit System," Office of
Administration, Farm Credit Administration, and additional data provided by the Farm
Credit Administration;
"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).
Starting in 1985, the Farm Credit System has been reporting only total outstanding loans,
and so its farm loans have been estimated as accounting for the same share of total loans
as they did on December 31, 1984 (at PCAs, 97,5 percent; Federal land banks, 94.1 percent).




23

24
TABLE 541
FARM DEBT OUTSTANDING (USDA ANNUAL SERIES INCLUDING FARM HOUSEHOLDS)

YEAR
TOTAL

5 4 1 .1
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 .............
1 9 8 5 .............

141103.
166074.
182325.
202108.
217170.
216430.
212780.
204798.
54 1 .2

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 .............
1 9 8 5 .............

1 0 0.0
1 0 0.0
1 0 0.0
10 0.0
10 0.0
1 0 0.0
10 0.0
1 0 0 .0
54 1 .3

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 ......
1 9 8 5 .............

18118.
24971.
16251.
19783.
15062.
-7 4 0 .
-3650.
-7982.
541.4

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 .............
1 9 8 5 .............

1 4 .7
17 .7
9 .8
10 .9
7 .5
-.3
-1 .7
-3 .8




AMOUNT,

TOTAL

NON-REALESTATE

REAL
ESTATE

69493.
80475.
86561.
96307.
107193.
103591.
100778.
99176.

37935.
44490.
47901.
50550.
51530.
51265.
47900.
42578.

4 9 .2
4 8 .5
4 7 .5
47 .7
49 .4
47 .9
4 7 .4
4 8 .4

NON-REALESTATE

TOTAL

LIFE
COOPERATIVE
ALL
INSURANCE
FARM
OPERATING
COMPANIES
CREDIT
BANKS
SYSTEM

FARMERS
HOME
ADMINIS­
TRATION

COMMODITY
CREDIT
CORPOR­
ATION

23638.
27880.
30180.
31770.
32000.
32320.
29900.
27200.

14297.
16610.
17721.
18780.
19530.
18945.
18000.
15378.

1 6 .8
1 6 .8
1 6 .6
15 .7
14 .7
14 .9
14 .1
13 .3

1 0 .1
10 .0
9.7
9 .3
9 .0
8 .8
8 .5
7 .5

2053.
2313.
1111.
1059.
750.
-58 5.
-945.
-2622.

10478.
12165.
12928.
13074.
12802.
12717.
12444.
11806.

9901.
16093.
19471.
23196.
23844.
24330.
25846.
27330.

5666.
5070.
4978.
8011.
15433.
10801.
8719.
16928.

7 .0
9 .7
1 0 .7
11 .5
11 .0
11 .2
12 .1
13 .3

4 .0
3 .1
2 .7
4 .0
7 .1
5 .0
4.1
8 .3

36830.
39657.
40312.
41335.
44520.
48343.
49785.
46873.

40292.
48598.
56735.
65941.
69042.
68976.
68085.
59283.

73 .1
7 3 .2
73 .7
7 5 .0
7 6 .3
7 6 .3
7 7 .5
7 9 .2

2 6 .1
2 3 .9
22 .1
2 0 .5
2 0 .5
2 2 .3
2 3 .4
2 2 .9

2 8 .6
2 9 .3
31 .1
32 .6
31 .8
31 .9
32 .0
28 .9

7 .4
7 .3
7 .1
6 .5
5.9
5 .9
5 .8
5 .8

13762.
18416.
12840.
17134.
14083.
-475.
-28 8.
-26 58 .

3341.
2827.
655.
1023.
3185.
3823.
1442.
-2 9 1 2 .

4858.
8306.
8137.
9206.
3101.
-6 6 .
-891.
-8 8 0 2 .

1659.
1687.
763.
146.
-272.
-8 5 .
-2 7 3 .
-638.

2778.
6192.
3378.
3725.
648.
486 .
1516.
1484.

1126.
-59 6.
-92 .
3033.
7422.
-4632.
-20 8 2 .
8209.

15 .4
1 7 .9
1 0 .6
1 2 .7
9 .3
-.3
-.2
-1 .6

1 0 .0
7 .7
1.7
2 .5
7 .7
8.6
3.0
-5 .8

13 .7
2 0 .6
16 .7
16 .2
4 .7
-.1
-1 .3
-1 2 .9

1 8 .8
16 .1
6 .3
1.1
-2 .1
-.7
-2 .1
-5 .1

3 9 .0
6 2 .5
21 .0
19 .1
2.8
2 .0
6 .2
5.7

24 .8
-1 0 .5
-1 .8
6 0 .9
9 2 .6
-3 0 .0
-1 9 .3
9 4 .2

103168.
121584.
134424.
151558.
165641.
165166.
164878.
162220.

END OF YEAR

PERCENTAGE OF TOTAL,
5 0 .8
5 1 .5
5 2 .5
5 2 .3
50 .6
52 .1
52 .6
5 1 .6

REAL
ESTATE

MILLIONS OF DOLLARS

END OF YEAR,

71610.
85599.
95764.
105801.
109978.
112840.
112000.
105622.

REPORTING LENDING INSTITUTIONS

INDIVIDUALS AND OTHERS

TOTAL DEBT

i

2 6 .9
26 .8
2 6 .3
25 .0
2 3 .7
2 3 .7
22 .5
20 .8

CHANGE DURING YEAR, MILLIONS OF DOLLARS
8152.
13989.
10165.
10037.
4177.
2862.
-8 4 0 .
-6378.

9966.
10982.
6086.
9746.
10886.
-3602.
-28 13 .
-16 02 .

4356.
6555.
3411.
2649.
980.
-26 5.
-33 6 5 .
-5 3 2 2 .

2303.
4242.
2300.
1590.
230.
320.
-24 20 .
-2700.

PERCENTAGE CHANGE DURING YEAR
12 .8
19 .5
11 .9
10 .5
3 .9
2 .6
-.7
-5 .7

16 .7
1 5 .8
7.6
11 .3
11 .3
-3 .4
-2 .7
-1 .6

13 .0
17 .3
7 .7
5 .5
1 .9
-.5
-6 .6
-1 1 .1

1 0 .8
1 7 .9
8 .2
5 .3
.7

1. 0

-7 .5
-9 .0

16 .8
16 .2
6.7
6 .0
4 .0
-3 .0
-5 .0
-1 4 .6

TABLE 542

FARM DEBT OUTSTANDING
REPORTING LENDING INSTITUTIONS

INDIVIDUALS AND OTHERS

TOTAL DEBT

I _____ __

QUARTER

I

TOTAL

542.1
1982Q1
-Q2
-Q3
-Q4

NON-REALESTATE

REAL
ESTATE
AMOUNT,

REAL
ESTATE

NON-REALESTATE

XXXXXXXXXXXXXXXXXXXXXXXXXXX

xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

XXXXXXXXXXXXXXXXXXXXXXXXXXX

21 8310.

11 0333.

107977.

xxxxxxxxxxxxxxxxxxxxxxxxxxx

1984Q1
-Q2
~Q3
-Q4

xxxxxxxxxxxxxxxxxxxxxxxxxxx

1985Q1
-Q2
” Q3
-Q4

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

1986-

xxxxxxxxxxxxxxxxxxxxxxxxxxx

XXXXXXXXXXXXXXXXXXXXXXXXXXX
XXXXXXXXXXXXXXXXXXXXXXXXXXX

217381.

113023.

10 4358.

XXXXXXXXXXXXXXXXXXXXXXXXXXX

xxxxxxxxxxxxxxxxxxxxxxxxxxx
213591.

206254.

542.2

11 2070.

105797.

101521.

10 0457.

PERCENTAGE OF TOTAL,

1982- Q1
~Q2
-Q3
-Q4

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

1983- Q1
-Q2
-Q3
~Q4

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

1984- Q1
-Q2
-Q3
*~Q4

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

1 9 8 5 - Q1 .
- Q2 .
” Q3 .
~Q4.

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

1986- Q1

xxxxxxxxxxxxxxxxxxxxxxxxx

100.0

100.0

100.0

100.0




50.5

52.0

52.5

51.3

TOTAL

INSURED COOPERATIVE LIFE
FARM
INSURANCE
COMMERCIAL
CREDIT
COMPANIES
BANKS
s y s t e m _________________

FARMERS COMMODITY
CREDIT
HOME
CORPOR­
ADMINIS­
ATION
TRATION

END OF QUARTER, MILLIONS OF DOLLARS

1983Q1
-Q2
-Q3
” Q4

Q1

TOTAL

49.5

48.0

47.5

48.7

xxxxxxxxxxxxxxxxxxxxxxxxxxx
51530.

32 000.

19 530.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
51265.

32320.

18945.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
47900.

29900.

18000.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
42578.

27200.

15378.

xxxxxxxxxxxxxxxxxxxxxxxxxxx

157077.
162200.
16 4831.
16 6780.

41608.
44205.
45534.
44493.

67 258
6 9 89 2
70647
6919 8

12974.
12967.
12906.
12802.

24132.
25256.
25340.
24855.

1110 5
9880
10 40 5
15 433

17 0234.
17 1817.
168819.
16 6116.

44899.
47454.
48168.
48345.

68 888
70111
7 0 23 4
69094

12634.
12646.
12 731.
12721.

24730.
25550.
25479.
25155.

19 084
16 055
12207
10801

164163.
166935.
167937.
16 5691.

48811.
51242.
51688.
49758.

68684
69822
70176
68113

12 549.
12 560.
12 621.
12443.

25314.
26785.
26978.
26658.

8806
65 2 5
64 74
87 19

16 4213.
166107.
164540.
163676.

48488.
50446.
50143.
46848.

66481
65556
63 079
59287

12148.
12106.
12010.
11807.

27123.
29191.
29497.
28806.

9 9 73
8808
9812
16928

16 2294.

45600.

56 7 0 5

11 623.

28585.

19780

END OF QUARTER

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
23.6

14.7

8.9

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
23.6

14.9

8.7

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
22.4

14.0

8.4

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
20.6

13.2

7.5

xxxxxxxxxxxxxxxxxxxxxxxxx

XXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXXX

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
76.4

20.4

31.7

5.9

11.4

7.1

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
76.4

22.2

31.8

5.9

11.6

5.0

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
77.6

23.3

31.9

5.8

12.5

4.1

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx
79.4

22.7

28.7

5.7

14.0

8.2

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

25

26
TABLE 542 (CONTINUED)
FARM DEBT OUTSTANDING
REPORTING LENDING INSTITUTIONS

INDIVIDUALS AND OTHERS

.. TOTAL DEBT
QUARTER
TOTAL

542.3

REAL
ESTATE

NON-REALESTATE

TOTAL

REAL
ESTATE

NON-REAL-I
ESTATE

TOTAL

INSURED COOPERATIVE LIFE
FARM
INSURANCE
COMMERCIAL
COMPANIES
CREDIT
BANKS
SYSTEM

FARMERS COMMODITY
CREDIT
HOME
ADMINIS­ CORPOR­
TRATION
ATION

CHANGE FROM PREVIOUS YEAR, MILLIONS OF DOLLARS

1982-Q1.
-Q2.-T
-Q3.
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
15351.
4248.
11103.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
980.
230.
750.

16502.
15663.
15016.
14371.

1806.
2600.
3569.
3349.

7359.
6088.
4770.
3096.

-53.
-35.
-2 0 0 .
-257.

2031.
947.
678.
761.

5359.
6063.
6199.
7422.

1983-Q1.
-Q2.
-Q3. ..
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
-929.
2690.
-3619.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
-265.
320.
-585.

13157.
9617.
3987.
-664.

3291.
3249.
2634.
3852.

1630.
219.
-413.
-104.

-341.
-321.
-175.
-81.

598.
294.
139.
300.

7979.
6175.
1802.
-4632.

1984-Q1.
~Q2.
-Q3. ..
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
-3790.
-953.
-2837.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
-3365.
-2420.
-945.

-6071.
-4882.
-881.
-425.

3912.
3788.
3520.
1413.

-204.
-289.
-58.
-981.

-85.
-8 6 .
-109.
-278.

584.
1235.
1499.
1503.

-10278.
-9530.
-5733.
-2082.

1985-Q1.
-Q2...
-Q3. ,,
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
-7338.
-6273.
-1064.

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
-5322.
-2700.
-2622.

50.
-828.
-3397.
-2016.

-323.
-796.
-1545.
-2910.

-2203.
-4267.
-7097.
-8826.

-400.
-454.
-611.
-636.

1809.
2406.
2519.
2148.

1168.
2283.
3338.
8209.

1986-Q1.

xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx

-1920.

-2888.

-9775.

-525.

1462.

9807.

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

2.4
.3

-2.6
-2.5
-1.4

2.5

-.6

1.2

71.8
62.5
17.3
-30.0

-.1

-.7
-.7
-.9

2.4
4.8
5.9

-1.4

-2.2

6.0

-3.2
-6.1

7.1
9.0
9.3
8.1

13.3
35.0
51.6
94.2

5.4

98.3

XXXXXXXXXXXXXXXXXXXXXXXXXXX

542.4

PERCENTAGE CHANGE FROM PREVIOUS YEAR

1982-Q1.
-Q2...
-Q3. .#
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
7.6
4.0
11.5

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
1.9
.7
4.0

1983-Q1.
-Q2. ..
-Q3. , .
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
-.4
2.4
-3.4

1984-Q1.
-Q2. ..
-Q3. ,,
-Q4.

11.7
10.7

6 .2

10.0

8.5

9.4

8.1

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
-.5
1.0
-3.0

8.4
5.9
2.4
-.4

7.9
7.3
5.8
8.7

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
-1.7
-.8
-2.7

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
-6.6
-7.5
-5.0

-3.6
-2.8
-.5
-.3

8.0

1985-Q1.
-Q2. ..
-Q3. ..
-Q4.

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
-3.4
-5.6
-1.0

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
-11.1
-9.0
-14.6

-.5

1986-Q1.

xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx




4.5

8.7
7.3
2.9

-.6
-.1

-.3
-.4

-2.0
-1.2

-.7
- 1.6
-3.0
-5.8

- 10.1
-13.0

-3.2
-3.6
-4.8
-5.1

- 1.2

-6.0

-14.7

-4.3

.0

1.2

.5

-53.9
-59.4
-47.0
-19.3

TABLE 542 (CONTINUED)
FARM DEBT OUTSTANDING
REPORTING LENDING INSTITUTIONS

INDIVIDUALS AND OTHERS

TOTAL DEBT
QUARTER
TOTAL

542.5

REAL
ESTATE

NON-REALESTATE

TOTAL

REAL
ESTATE

NON-REALESTATE

TOTAL

INSURED COOPERATIVE: LIFE
FARM
INSURANCE
COMMERCIAL
CREDIT
COMPANIES
BANKS
__ SYSTEM__

FARMERS COMMODITY
CREDIT
HOME
ADMINIS­ C0RP0RTRATION __ ATIQN__

CHANGE DURING QUARTER, MILLIONS OF DOLLARS

1982-Q1...
-Q2...
-Q3...
-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.

1983-Q1...
-Q2...
-Q3...
-Q4...

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

3454.
1582.
-2998.
-2703.

406.
2555.
714.
177.

-310.
1224.
123.
-1140.

-168.
12.
85.
-1 0 .

-125.
820.
-71.
-324.

3651.
-3029.
-3848.
-1406.

1984-Q1...
-Q2...
-Q3...
-Q4...

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

-1953.
2772.
1002.
-2246.

466.
2431.
446.
-1930.

-411.
1139.
354.
-2063.

-172.
11.
61.
-178.

159.
1471.
193.
-320.

-1995.
-2280.
-51.
2245.

1985-Q1...
-Q2...
-Q3...
-Q4...

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxxxx

-1478.
1893.
-1566.
-865.

-1270.
1958.
-303.
-3295.

-1633.
-925.
-2477.
-3792.

-295.
-43.
-96.
-203.

465.
2068.
306.
-691.

1254.
-1165.
1004.
7116.

1986-Q1...

xxxxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxxxx

-1382.

-1248.

-2582.

-183.

-2 2 1 .

542.6

PERCENTAGE CHANGE DURING QUARTER

1982-Q1...
-Q2...
-Q3...
-Q4...

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

3.1
3.3

1.1
6.2

1.7
3.9

-.6
-.1

1.6
1.2

3.0
-2.3

1.1

-.5

-2.1

-.8

1983-Q1...
-Q2...
-Q3...
-Q4...

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

2.1

.9
5.7
1.5
.4

-.4

-1.3

1.8
.2
- 1.6

.7
-.1

1984-Q1... .
-Q2...
-Q3...
-Q4...

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

- 1.2
1.7

1985-Q1
-Q2...
-Q3...
-Q4...

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx
xxxxxxxxxxxxxxxxxxxxxxxxx

- Q

1986-Q1...

xxxxxxxxxxxxxxxxxxxxxxxxx

xxxxxxxxxxxxxxxxxxxxxxxxx




2852.

.9
-1.7
- 1.6

.1

4.7
.3
-1.9

38.6
- 11.0
5.3
48.3

-.5
3.3
-.3
-1.3

23.7
-15.9
-24.0
-11.5
-18.5
-25.9

.2

1.0

-.6

-1.4

.6

5.0
.9
-3.7

1.7
.5
-2.9

.1

.5
-1.4

5.8
.7
- 1.2

b •o
4.0

-7 6

—7 6

1 7

1 12

-.4

7.6

-.9
-.5

-.8

1.0

-6.6

-1.4
-3.8
-6.0

-1.7

-2.3

16
1H .M6
-11.7
11.4
72.5

-.8

-2.7

-4.4

- 1.6

-.8

16.8

.6

-1.3

-.6

-.8

34.7

27

28
TABLE 551
FARM DEBT OUTSTANDING AT REPORTING LENDING INSTITUTIONS (USDA ANNUAL SERIES INCLUDING FARM HOUSEHOLDS)
NON-REAL-ESTATE DEBT

------------------------------------ K B n “ E 5 T * T n J EB T -----------------------------------YEAR

ALL
OPERATING
BANKS

TOTAL
TOTAL

551.1
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 . ______
1 9 8 5 _____ _

_

103168.
12 1584.
134424.
151558.
165641.
165166.
164878.
162220.
551.2

.....
.....
.....
1981 . . . . . .
1 9 8 2 . ______
1 9 8 3 .............
1984......
1985......

1 978.
1 979.
19 8 0 .

xxxxxx

XXXXXX
XXXXXX

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
551.3

19 7 8 . . . . . .
1 9 79 . . . . . .
1980......
1981 . . . . . .
1 9 8 2 .............
1983......
1984......
1 9 8 5 .............

13762.
18416 .
12840.
17 134.
14083.

-475.
-288.
-2658.
551.4

1 9 7 8 .............
1 9 7 9 ____ _ .
1 9 8 0 .......... .
1981 .............
1 9 8 2 .............
1 9 8 3 .........
1 9 8 4 .............
1 9 8 5 .............

15.4
17.9
10.6
12.7
9.3
-.3
-.2
-1.6




AMOUNT,

END OF YEAR,

47972.
57719.
65584.
74031.
77978.
80520.
82100.
78422.

8557.
8623.
8745.
8387.
8392.
9317.
10186 .
11360.

FEDERAL
LAND
BANKS

LIFE
INSURANCE
COMPANIES

17.8
14.9
13.3
11.3
10.8
11.6
12.4
14.5

CHANGE DURING YEAR,
5849.
9747.
7865.
8447.
3947.
2542.
1580.
-3678.

777.
66.
12 2 .
-358.
5.
925.
869.
11 7 4 .

TOTAL

ALL
PRODUCTION
FEDERAL
FARMERS COMMODITY
CREDIT
INTERMEDIHOME
OPERATING CREDIT
CORPOR­
ATE
CREDIT
ADMINISBANKS
ASSOCIA­
ATION
BANKS
TRATION
TIONS

MILLIONS OF DOLLARS
24816.
29820.
36196.
43825.
47699.
48811.
49285.
44696.

55196.
63865.
68840.
77527.
87663.
84646.
82778.
83798.

28273.
31034.
31567 .
32948.
36128.
39026 .
39599.
35513.

14967.
18113.
19729.
21203.
20472.
19315.
17 925.
14050.

8.6
12.3
11.8
11.8
11.7
12.0
12.4
13.5

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

51.2
48.6
45.9
42.5
41.2
46.1
47.8
42.4

27.1
28.4
28.7
27.3
23.4
22.8
21.7
16.8

1659.
1687 .
763.
1 4 6.
-272.
-85.
-273.
-638.

13 9.
2990.
604.
1029.
34 1 .
59 1 .
51 0 .
3 7 4.

7913.
8669.
4975.
8687 .
10136 .
-3017.
-1868.
1020.

2564.
2761 .
533.
1381.
3180.
2898.
573.
-4086 .

1448 .
3146 .
1616.
1474.
-731.
-1157.
-1390.
-3875.

18.8
16.1
6.3
1.1
-2.1
-.7
-2.1
-5.1

3.5
72.6
8.5
13.3
3.9
6.5
5.3
3.7

10.0
9.8
1.7
4.4
9.7
8.0
1.5
-10.3

10.7
21.0
8.9
7.5
-3.4
-5.6
-7.2
-21.6

10 478.
12165.
12 928.
13 074.
12 802.
12717.
12444.
11806 .

PERCENTAGE OF TOTAL SPECIFIED DEBT,
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

FARMERS
HOME
ADMINIS­
TRATION

51.7
51.7
55.2
59.2
61.2
60.6
60.0
57.0

4121.
7111.
7715.
8744.
9085.
9676.
10186.
10560.

509.
665.
810.
913.
871.
850.
875.
537 .

5780.
8982.
11756.
14452.
14 759.
14654.
15660.
16770.

5666.
5070.
4978.
8011 .
15433.
10801.
8719.
16 928.

.9

1.1
.6

10.5
14.1
17.1
18.6
16.8
17.3
18.9
20.0

10.3
7.9
7.2
10.3
17.6
12.8
10.5
20.2

1 3 5.
156 .
145.
10 3 .
-42.
-21 .
25.
-338.

2639.
32 02.
2774.
2696.
307.
-105.
1006.
1110.

1126 .
-596.
-92.
30 33.
7422.
-4632.
-2082.
8209.

84.0
55.4
30.9
22.9
2.1
-.7
6.9
7.1

24.8
-10.5
-1.8
60.9
92.6
-30.0
-19.3
94.2

END OF YEAR

21.8
21.1
19.7
17.7
16.4
15.8
15.2
15.1

1.0
1.2
1.2

1.0
1.0

MILLIONS OF DOLLARS
3275.
5004.
6376.
7629.
3874.
1112.
474.
-4589.

PERCENTAGE CHANGE DURING YEAR
13.9
20.3
13.6
12.9
5.3
3.3
2.0
-4.5

10.0
.8
1.4
-4.1
.1
11.0
9.3
11.5

15.2
20.2
21.4
21.1
8.8
2.3

1.0
-9.3

!
1
1

16.7
15.7
7.8
12.6
13.1
-3.4
-2.2
1.2

36.1
30.6
21.8
12.7
-4.6
-2.4
2.9
-38.6

TABLE 552
FARM DEBT OUTSTANDING AT REPORTING LENDING INSTITUTIONS
REAL ESTATE DEBT
QUARTER

INSURED
COMMERCIAL
BANKS

TOTAL
TOTAL

552.1

AMOUNT,

FEDERAL
LAND
BANKS

NON-REAL-ESTATE DEBT

LIFE
INSURANCE
COMPANIES

FARMERS
HOME
ADMINISTRATION

TOTAL

INSURED PRODUCTION
FEDERAL
FARMERS COMMODITY
CREDIT
HOME
COMMERCIAL
CREDIT
INTERMEDI­
ASSOCIA­
ATE CREDIT ADMINIS­
CORPOR­
BANKS
BANKS
ATION
TRATION
TIONS

END OF QUARTER , MILLIONS OF DOLLARS

1982-Q1...
-Q 2 ...
-Q 3 ...
-Q 9 ...

157077.
162200.
169831.
166780.

75759.
77292.
78131.
78333.

8326.
8950.
8521.
8362.

95901.
96690.
97912.
97823.

12 979.
12967.
12 906.
12 802.

9057.
9185.
9292.
9397.

81318.
89908.
86700.
88997.

33 282.
35 755.
37013.
36 131.

20988.
22263.
22276.
20503.

868.
939.
958.
872.

15075.
16071.
16 098.
15508.

11 105.
9880.
10905.
15933.

1983-Q1. . .
-Q 2 ...
-Q 3 ...
-Q 9 ...

17 0239.
171816.
168819.
166116.

78629.
79612.
80275.
80703.

8955.
8852.
9065.
9291.

98112.
98595.
98860.
98929.

12 639.
12696.
12 731.
12 721.

9923.
9569.
9620.
9762.

91610.
92209.
88593.
85913.

36 999.
38 602.
39 103.
39059.

19939.
20703.
20959.
19 315.

836.
863.
916.
850.

15307.
15 981.
15859.
15 393.

19089.
16055.
12207.
10801.

1989-Q1...
-Q 2 ...
-Q 3 ...
-Q 9 ...

166163.
166935.
16 7937.
165691.

81055.
81919.
82981.
82170.

9638.
9988.
10171.
10 169.

99021.
99303.
99527.
99290.

12 599.
12560.
12621.
12993.

9897.
10068.
10 162.
10273.

83109.
85016.
85957.
83521.

39173.
91259.
91517.
39599.

18862.
19693.
19695.
17 925.

801.
877.
959.
899.

15 967.
16 717.
16816.
16385.

8806.
6525.
6979.
8719.

1985-Q1...
-Q 2 ...
-Q 3 ...
-Q 9 ...

16 9213.
166107.
169590.
163676.

|
1
I1
I

81999.
81903.
80109.
78597.

10 292.
10 592.
11 017.
11 390.

99090.
98050.
96360.
99700.

12198.
12 106.
12010.
11 807.

10969.
10655.
10722.
10750.

82269.
89709.
89932.
85079.

38 196.
39859.
39126.
35508.

16 680.
16 780.
16020.
19 050.

761.
726.
699.
537.

16 659.
18 536.
18 775.
18 056.

9973.
8808.
9812.
16928.

1986-Q1. . .

162299.

I

77991.

11700.

93900.

11623.

10768.

89802.

33900.

12830.

975.

17 817.

19 780.

100.0
100.0
100.0
100.0

90.9
92.1
92.7
90.9

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
17.9

552.2

PERCENTAGE OF TOTAL SPECIFIED DEBT,

END OF QUARTER

1982-Q1. . .
-Q 2...I
-Q3. . .
-Q9. . .

xxxxxx
xxxxxx
xxxxxx
xxxxxx

100.0
100.0
100.0
100.0

11.0
10.9
10.9
10.7

59.9
60.9
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 9 ...

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

1 9 8 9 - Q 1 ... .
-Q 2 ...
-Q3. . .
-Q 9 ...

xxxxxx
xxxxxx
xxxxxx
xxxxxx

100.0
100.0
100.0
100.0

11.9
12.2
12.3
12.9

60.5
60.2
60.0
60.0

15.5
15.3
15.3
15.1

1985-Q1. . .
-Q 2 ...
-Q3. . .

xxxxxx
xxxxxx
xxxxxx
xxxxxx

100.0
100.0
100.0
100.0

12.6
13.0
13.8
19.9

59.8
59.0
57.9
56.9

19.8
19.9
15.0
15.0

1986-Q1. . .

xxxxxx

100.0

15.1

56.0

15.0




100.0
100.0
100.0
100.0

39.8
91.9
99.2
95.7

21.8
22.5
23.1
22.6

.9
.9
1.0
1.0

16.7
17.3
17.9
18.0

20.8
17.9
13.8
12.6

12.1
12.3
12.3
12.5

1
I
1
1
j1
I
|
|
I
I
|
I
j1
|
I
|
I
|
I
1I

100.0
100.0
100.0
100.0

97.1
98.5
98.6
97.9

22.7
23.1
23.0
21.5

1.0
1.0
1.1
1.1

18.6
19.7
19.7
19.6

10.6
7.7
7.6
10.9

12.8
13.1
13.9
13.7

|
1
|
I
j
|
I

100.0
100.0
100.0
100.0

96.9
97.1
96.3
91.7

20.3
19.8
19.0
16.5

.9
.9
.0
.6

20.2
21.9
ZZ. Z
21.2

12.1
10.9
11.6
19.9

90.0

15.1

.6

21.0

23.3

13.9
I
100.0
___________ 1___________

29

30
TABLE 552 (CONTINUED)

FARM DEBT OUTSTANDING AT REPORTING LENDING INSTITUTIONS

TOTAL

QUARTER

--------------------

REAL ESTATE DEBT

---------- 1
TOTAL

552.3

INSURED
COMMERCIAL
BANKS

FEDERAL
LAND
BANKS

Li fe
INSURANCE
COMPANIES

FARMERS
HOME
ADMINISTRATION

TOTAL

CHANGE FROM PREVIOUS YEAR, MILLIONS OF DOLLARS
10.
-2 0 .
-90.
-60.

1603.
629.
399.
931.

5359.
6063.
6199.
7922.

-1099.
-1560.
-1818.
-1188.

-32.
-76.
-92.
-2 2 .

232.
-90.
-189.
-115.

7979.
6175.
1802.
-9632.

2729.
2652.
2919.
590.

-1077.
-1060.
-763.
-1391.

-35.
19.
38.
99.

160.
736.
957.
992.

-10278.
-9530.
-5733.
-2082.

-890.
-312.
-1025.
1558.

-977.
-1900.
-2391.
-9086.

-2182.
-2863.
-3675.
-3875.

-90.
-151.
-255.
-362.

1192.
1819.
1959.
1671.

1168.
2283.
3338.
8209.

309.

2533.

-9296.

-3850.

-286.

1158.

9807.

-.9
-.3
-1.5
-2.0

5.0
3.6
3.1
3.7

12.7

6.2

1.1

1.2

12.1

7.8
10.3

-.3
-1.1
-3.9

-2.1
-9.0
-6.9

11.9
9.0
2.5
2.9

93.3
158.8
197.9
92.6

-2.6
-2.5
-1.9

1
I
1
1

-5.0
-7.0
-8. 2
-5.8

-3.7
-8.1
-9.9
-2.5

1.5

-.6

9.0
9.2
3.5
9.9

- 1.2
-.7

71.8
62.5
17.3
-30.0

-.7
-.7
-.9
-2.2

9.5
5.2
5.6
5.2

I

1.9

-5.9
-5.1
-3.7
-7.2

-9.2
1.7
9.2
5.7

-3.2
-3.6
-9.8
-5.1

6.3
5.8
5.5
9.6

-1.0
-.9
- 1.2
1.9

-2.5
-3.9
-5.8
-10.3

-11.6
-19.6
-18.7
-21.6

-5.0
-17.2
-26.7
-90.3

11.6
10.2

13.3
35.0
51.6
99.2

-9.3

2.9

3.1

- 11.2

-23.1

-37.5

7.0

98.3

16502.
15663.
15016.
19371.

7369.
6965.
5236.
9018.

-138.
11.
109.
61.

7127.
6167.
5097.
3889.

-53.
-35.
-2 0 0 .
-257.

928.
322.
279.
330.

9139.
9198.
9780.
10353.

1999.
2589.
3960.
3288.

1983-Q1...
-Q2 ...
-Q3...
-Q9...

13157.
9616.
3987.
-669.

2865.
2321.
2199.
2370.

129.
902.
599.
929.

2711.
1855.
1997.
1106.

-391.
-321.
-175.
-81.

366.
389.
328.
915.

10292.
7296.
1893.
-3039.

3162.
2897.
2090.
2923.

1989-Q1...
-Q2 ...
-Q3... 1
-Q9...

-6071.
-9882.
-881.
-925.

2931.
2307.
2205.
1967.

1183.
1136.
1106.
873.

909.
757.
667.
361.

-85.
-8 6 .
-109.
-278.

929.
999.
592.
511.

-8501.
-7188.
-3087.
-1892.

1985-Q1...
-Q2 ...
-Q3...
-Q9.. .

50.
-828.
-3397.
-2016.

890.
-516.
-2372.
-3573.

659.
609.
896.
1176.

19.
-1253.
-3167.
-9590.

-900.
-959.
-611.
-636.

617.
587.
560.
977.

1986-Q1...

-1920.

-9953.

1908.

-5690.

-525.

1982-Q1...
-Q2 ...
-Q3...
-Q9...

11.7
10.7

1983-Q1...
-Q2 ...
-Q3...
-Q9...

-1.6
.1

9.9

9.1
7.2
5.9

1.3
.7

8.9
5.9
2.9
-.9

3.8
3.0
2.7
3.0

1.5
9.8
6.9

1989-Q1...1
-Q2...1
-Q3...1
-Q9...J

-3.6
-2.8
-.5
-.3

1985-Q1...
-Q2 ...
-Q3...
-Q9...

.0

-.5
-2.0
- 1.2
-1.2

1986-Q1...

_________




222.
-59.
-238.
-728.

PERCENTAGE CHANGE FROM PREVIOUS YEAR
10.8

10.0

DEM --------------------

FEDERAL FARMERS COMMODITY
INSURED PRODUCTION
CREDIT
INTERMEDI­ HOME
COMMERCIAL CREDIT
ASSOCIA­ ATE CREDIT ADMINIS­ CORPORBANKS
TRATION __ AJJLONBANKS
TIONS

1982-Q1...
-Q2 .. .
-Q3...
-Q9. ..

552.9

n o n -r Ea L-e s t a t e

18.6
15.2
11.9
8.8
6.0

11.1

9.0
3.1
2.3

3.1
2.9
2.7

19.0

1.9

12.8
12.2

1.6

1.8

9.9

1.1
-.6

6.8
6.0

-2.9
-9.3

11.6

-2.5
-6.9
-9.3

-5.9

13.7

-11.5

8.3

1.9
.7
.0

12.7
13.3

10.0

12.7

9.5

8.6
2.1

8.0

-3.9

8.1

-9.3
-7.8
-3.5
-2.2

7.5
6.9

5.6

6.2

-.6

1.0

9.6
6.0

6.9
7.7
10.9

-53.9
-59.9
-97.0
-19.3

TABLE 552 (CONTINUED)
FARM DEBT OUTSTANDING AT REPORTING LENDING INSTITUTIONS
NON-REAL-ESTATE DEBT

REAL ESTATE DEBT
QUARTER

TOTAL
TOTAL

552.5

INSURED
COMMERCIAL
BANKS

FEDERAL
LAND
BANKS

LIFE
INSURANCE
COMPANIES

FARMERS
HOME
ADMINIS_TRATIQN_

TOTAL

FARMERS COMMODITY
FEDERAL
PRODUCTION
INSURED 1
CREDIT
HOME
INTERMEDI­
iCOMMERCIAL CREDIT
CORPOR­
ATE CREDIT ADMINIS­
ASSOCIA­
BANKS
TIONS
ATION
TRATION.
BANKS

CHANGE DURING QUARTER , MILLIONS OF DOLLARS

1982-Q1...
-Q 2 ...
-Q 3 ...
-Q 4 ...

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.

30 94.
-1225.
525.
5028.

1983-Q1. . .
~Q2. . .
-Q 3 ...
-Q 4 ...

3454.
1582.
-2998.
-2703.

291.
988.
663.
427.

93.
397.
213.
226.

290.
433.
314.
69.

-168.
12.
85.
-10.

76.
14 6.
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.

1984-Q1. . .
-Q 2 ...
-Q3. . .
-Q 4 ...

-1953.
2772.
1002.
-2246.

352.
864.
562.
-311.

347.
350.
183.
-7.

92.
282.
224.
-237.

-172.
11.
61.
-178.

85.
221.
94.
11 1 .

-2305.
1907.
440.
-1935.

11 9 .
2081.
263.
-1923.

-453.
781.
53.
-1771.

-49.
76.
77.
-55.

74.
1250.
99.
-431.

-1995.
-2280.
-51.
2245.

1985-Q1...
-Q 2 ...
-Q 3 ...
-Q 4 ...

-1478.
1893.
-1566.
-865.

-226.
-542.
-1294.
-1512.

128.
300.
425.
323.

-250.
-990.
-1690.
-1660.

-295.
-43.
-96.
-203.

1 9 1.
1 9 1.
67.
28.

-1252.
2435.
-272.
647.

-1398.
1658.
-728.
-3618.

-1245.
100.
-760.
-1970.

-138.
-35.
-27.
-162.

274.
1877.
239.
-719.

1254.
-1165.
1004.
7116.

1986-Q1. . .

-1382.

-1105.

360.

-1300.

-183.

18 .

-276.

-1608.

-1220.

-62.

-239.

2852.

552.6

PERCENTAGE CHANGE DURING QUARTER

1982-Q1. . .
-Q2. . .
-Q3. . .
-Q4. . .

3.1
3.3
1.6
1.2

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

1983-Q1. . .
-Q 2 ...
~Q3. . .
- Q 4 ...

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

1984-Q1. . .
- Q 2 ...
-Q 3 ...
- Q 4 ...

-1.2
1.7
.6
-1.3

.4
1.1
.7
-.4

3.7
3.6
1.8
-.1

.2
.6
.5
-.5

-1.4
.1
.5
-1.4

.9
2.2
.9
1.1

-2.7
2.3
.5
-2.3

.3
5.3
.6
-4.6

-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
34.7

1985-Q1...
-Q 2...
-Q 3 ...
-Q 4 ...

-.9
1.2
-.9
-.5

-.3
-.7
-1.6
-1.9

1.3
2.9
4.0
2.9

-.5
-2.0
-3.5
-3.6

-2.4
-.4
-.8
-1.7

1.9
1.8
.6
.3

-1.5
3.0
-.3
.8

-3.5
4.3
-1.8
-9.2

-6.9
.6
-4.5
-12.3

-15.4
-4.6
-3.7
-23.2

1.7
11.3
1.3
-3.8

14.4
-11.7
11.4
72.5

1986-Q1. ..1

-.8

-1.4

3.2

-2.9

-1.6

.2

-.3

-4.5

-8.7

-11.5

-1.3

16.8




|
1

I
i

31

FARM

L E N D IN G

O P E R A T IO N S

AND

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
Changes in loans outstanding and lending flows...... .......................
34

Estimates from survey of non-real-estate loans made by commercial banks
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.
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),

PERIOD

AND FARM LENDING FLOWS AS PERCENTAGE OF AVERAGE LOANS OUTSTANDING

COMMERCI/ M BANKS |
PRODUCTION CREDIT ASSOCIATIONS
r
(NON-REAI .-ESTATE)
LENDINC5 FLOWS AS PER(VENTAGE
LOANS
OF .OANS 01JTSTAND][NG
AVERAGE MADE AS
AVERAGE I
LOANS
PERCENT
LOANS
1
OUT­
RENEW­ COLLEC­
OUT| LOANS
NEW
OF LOANS
STANDING
ALS
OUTSTANDING
TIONS
MADE LOANS
1STANDING
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 ____
1976 . . . .
1 9 7 7 ____
1 9 7 8 ____
1 9 7 9 ____

10959.
12014.
13 509.
15863.
18 068.
19113.
21783.
25004.
26852.
29568.

XXXX

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

31101.
32562.
35134.
37935.
40317.
38682.

193.
18 8 .
188.
177.
151.
13 5 .

611.2

xxxx
xxxx
xxxx
xxxx
xxxx
xxxx
17 4 .
173.
178.
1
|
|
I
I

FEDERAL LAND BANKS

LIFE INSURANCE COMPANIES

LENDING FLOWS AS PERCENTAGE
OF LOANS 01JTSTANDING
AVERAGE
1 NEW | REFI­
LOANS
OUT­
LOANS I MONEY NANCING REPAY­
STANDING CLOSED 1LOANED OF FLB MENTS
__________ 1_________1 LOANS

FLOWS AS PER­
CENT OF LOANS
AVERAGE
OUTSTANDING
LOANS
OUT­
ACQUI- |DISPOSTANDING SITIONS|SITIONS

5115.
5987.
6569.
7347 .
8858.
10 447.
11805.
13406.
14324.
16600.

162.
157.
159.
177 .
162.
15 3 .
155.
15 0 .
162.
175.

110.
10 5 .
106 .
124.
113.
10 3 .
105.
100.
112.
126.

52.
53.
53.
53.
49.
50.
50.
49.
50.
49.

91 .
98.
107 .
93.
91.
92.
91.
10 2 .
10 8 .

19 594.
21524.
21599.
20253.
19205.
16367.

165.
161.
151.
146.
14 5 .

1 1 5.
1 1 2.
10 0 .
96.
97.

50.
49.
50.
50.
48.

10 7 .
10 6 .
104.
102.
103.

xxxx

xxxx

xxxx

xxxx

33454.
40318.
46346.
48 473.
49240.
47611.

94.

6969.
7561.
8454.
10 047.
12188.
14 913.
17 429.
20228.
23250.
27358.

1
1
1
1
1
1
1
1
1
1
l1
1
1
1
1
1
1
|

1

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.
11 359.

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

28.8
28.2
15.4
9.5
8.4
xxxx

23.4
22.8
12.1
7.4
6.6

XXXX

5.3
5.4
3.3
2.1
1.7

XXXX

4.4
3.8
3.7
5.1
5.9
xxxx

12611.
13037.
12948.
12 684.
12572.
12107.

13.1
9.0
5.4
9.2
7.9
8.7

7.1
7.3
7.1
9.9
9.9
14.0

QUARTERLY (SEASONALLY ADJUSTED)

1 9 8 2 - Q1 .
-Q2.
-Q3.
- Q4.

33650.
34684.
35733.
36400.

199.
163.
215.
185.

21690.
21670.
21678.
21315.

149.
158.
152.
144.

98.
105.
102.
97.

50.
53.
50.
47.

104.
101.
103.
107.

44780.
46003.
46946.
47 653.

19.9
16.4
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

13036.
12998.
12928.
12826.

5.2
6.6
4.6
4.7

5.2
7.3
8.6
7.6

1983-Q1.
- Q2.
-Q3.
-Q4.

36985.
37698.
38107.
38 908.

171.
204.
13 7 .
18 9 .

20800.
20411.
20017.
19785.

147.
146.
146.
14 5 .

97.
95.
96.
96.

50.
51.
50.
49.

106.
101.
102.
98.

48061.
48303.
48618.
48915.

10.1
9.6
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

12735.
12679.
12657.
12660.

6.6
7.6
11.5
10.8

8.5
9.9
11.9
11.2

1984-Q1.
-Q2.
- Q3.
-Q4.

39916.
40401.
40555.
40360.

17 9 .
150.
145.
131.

19647.
19374.
19125.
18673.

147.
147.
145.
140.

97.
99.
96.
95.

49.
49.
49.
45.

104.
103.
99.
10 4 .

49048.
49148.
49350.
49419.

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

12653.
12576.
12552.
12503.

8.3
9.5
8.4
4.1

10.0
10.7
9.3
8.5

1985-Q1.
-Q2.
-Q3.

39 712.
39 216.
38691.
37 113.

13 9 .
143.
127.
127.

17804.
16867.
15953.
14904.

XXXX

xxxx

xxxx
xxxx
xxxx

xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

49220.
48540.
47156.
45534.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

12335.
12153.
12037.
11903.

4.1
8.8
7.7
14.1

10.5
12.4
14.4
18.4

35437.

141.

13826.

xxxx

xxxx

xxxx

xxxx

44094.

xxxx

xxxx

xxxx

xxxx

11715.

8.6

11.4

1986-Q1.




xxxx

33

34
FARM LENDING OPERATIONS AND EXPERIENCE
TABLE 612
FARM LOANS OUTSTANDING (END OF PERIOD) AND FARM LENDING FLOWS

PERIOD

FEDERAL LAND BANKS
COMMERCIAL BANKS 1
PRODUCTION CREDIT ASSOCIATIONS
I
(NON-REAL-ESTATE) 1
NEW | REFI1 LOANS
LOANS
I
LOANS
1
1
1
1 OUT­
LOANS | NEW
RENEW-ICOLLECOUTI LOANS MONEY INANCING REPAY­
OUT­
LOANS
LOANEDIOF
FLB MENTS
STANDING
MADE
STANDING
MADE I LOANS
ALS
| TIONS
STANDING|CLOSED
1 LOANS
1
1
LI_____
J
_________ 1
__________ 1
612.1

LIFE INSURANCE COMPANIES
LOANS
I
I
OUT|ACQUI- IDISPOSTANDINGISITIONSI SITIONS
___________ 1__________ 1__________

ANNUAL, PERCENTAGE CHANGE FROM PREVIOUS YEAR

1970....
1971....
1 9 7 2 ____
1 9 7 3 ____
197 A ____
1 9 7 5 ____
1976 ____
1977 ____
1978 . . . .
1 9 7 9 ____

7.
13.
15.
20.
6.
11.
15.
11.
10 .
10.

xxxx
xxxx
x xx x
x xx x
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.

16.
14.
18.
23.
5,
15 .
15.
12.
20 .
22.

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
12 3 .
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.

x xx x
60.
39.
43.
0.
7.
40.
57.
16 .
2.

xxxx
25.
13 .
10.
-2.
-4.
29.
14 .
14.
3.

1 9 8 0 ____
1 9 8 1 ____
1 9 8 2 ____
1 9 8 3 ____
198 A ____
1985....

2.
4.
10.
8.
1.
-10.

14.
2.
8.
2.
-10.
-14.

9.
7.
-3.
-6 .
-7 .
-22.

11 .
7.
-6 .
-9.
-6.
xxxx

8.
7.
-10.
-10.
-5.
xxxx

21.
8.
3.
-6 .
-9.
xxxx

17 .
9.
-1.
-8 .
-4.
xxxx

21.
21.
9.
2.
1.
-9.

15 .
18.
-37 .
-35.
-11.
xxxx

17.
17 .
-39.
-36 .
-9.

XXXX

4.
23.
-30.
-32.
-18.
xxxx

-8.
4.
12 .
44.
17 .

XXXX

6.
1.
-2.
-1.
-2.
-5.

-41.
-29.
-40.
66.
-15.
7.

-20.
6.
-3.
36.
-1.
35.

2.
2.
1.
1.

-7.
-4.
-18.
-18.

-5.
-2.
-17.
-13.

-11.
-11.
-21.
-34.

18.
23.
-10.
34.

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

19 .
23.
-20.
-61.

11.
13.
-18.
-11.

612.2

XXXX

1
I
1

QUARTERLY,, PERCENTAGE CHANGE FROM A YEAR EARLIER

1984-Q1.
- Q2.
-Q3.
- Q4.

7.
7.
6.
1.

14.
-21.
12.
-29.

-5.
-5.
-4.
-7.

-6.
-4.
-5.
-9.

-5.
-1.
-5.
-7.

-7.
-9.
-6.
-15.

-8.
-4.
-8.
1.

1 9 8 5 - Q1 .
-Q2.
~Q3.
- Q4.

-2.
-3.
-6.
-10.

-22.
-7 .
-17.
-11.

-12.
-15.
-19.
-22.

XXXX

x xx x
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
x xx x
xxxx
x xx x

xxxx
xxxx
xxxx
xxxx

0.
-3.
-7.
-10.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
x xx x
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

-3.
-4.
-5.
-5.

-54.
-7.
-23.
208.

-1.
15.
43.
97.

1986-Q1.

- n .

-9.

-23.

xxxx

xxxx

xxxx

xxxx

-13.

xxxx

xxxx

xxxx

xxxx

-4.

109.

2.

612.3

QUARTERLY,, PERCENTAGE CHANGE FROM PREVIOUS QUARTER (SEASONALLY-ADJUSTED ANNUAL RATE)

1 9 8 4 - Q1 .
-Q2.
-Q3.
-Q4.

7.
3.
0.
-4.

-11.
-49.
-11.
-34.

1 9 8 5 - Q1 .
-Q2.
-Q3.
-Q4.

-8.
-1.
-9.
-21.

17 .
8.
-41.
-14.

1986-Q1.

-12.

24.




1
1
!

1

!

-5.
-6.
-4.
-14.

2.
-4.
-10.
-21.

2.
0.
-17.
-9.

-3.
-10.
3.
-38.

28.
-12.
-19.
14.

0.
1.
2.
-1.

40.
-16.
-44.
-30.

59.
-13.
-45.
-24.

-1.
-22.
-46.
-56.

47.
31.
-13.
171.

-3.
-1.
-0.
-4.

-66.
69.
-40.
-94.

-36.
28.
-45.
-29.

-21.
-18.
-22.
-26.

xxxxx
xxxxx
xxxxx
xxxxx

x xx x x
xxxxx
xxxxx
xxxxx

xxxxx
xxxxx
xxxxx
xxxxx

xxxxx
xxxxx
xxxxx
xxxxx

-2.
-8.
-13.
-13.

xxxxx
xxxxx
xxxxx
xxxxx

xxxxx
x xx x x
x xx x x
xxxxx

xxxxx
xxxxx
xxxxx
xxxxx

xxxxx
xxxxx
xxxxx
xxxxx

-6.
-3.
-6.
-5.

-6.
1884.
-45.
994.

118.
84.
77.
153.

-26.

xxxxx

xxxxx

xxxxx

xxxxx

-11.

xxxxx

x xx x x

xxxxx

xxxxx

-3.

-87.

-86.

ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 621

AMOUNT O F LOANS MADE ( B I L L I O N S OF D O L L A R S ) *

PURPOSE OF LOAN
P E R IO D

A L L LOANS
FEEDER
L IV E S T O C K
6 2 1 .1

OTHER
OTHER
CURRENT
L IV E S T O C K
O P E R A T IN G
__________________ EXPENSES

FARM
M AC H IN E R Y
AND
EQ U IP M ENT

OTHER

S I Z E OF T o a n
(T H O U S A N D S OF D O L L A R S ) ________
TOO
10 TO
25 TO
AND
1 TO
24
99
OVER
9

LARGE

OTHER

11.
12.
11.

32.
34.
42.

12.
13.
22.
19.
16.
15.

48.
48.
44.
49.
45.
37.

ANNUAL AMOUNT OF LOANS MADE

1 9 7 7 ...................
1 9 7 8 ....................
1 9 7 9 ...................

A3.
47.
53.

9.
13.
17.

5.
4.
5.

16.
17.
19.

4.
4.
4.

8.
8.
8.

9.
8.
9.

9.
9.
8.

13.
14.
17.

13.
16.
18.

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

60.
61.
66.
67.
61.
52.

16.
13.
14.
12.
11.
9.

5.
4.
4.
6.
6.
5.

24.
27.
28.
31.
27.
23.

5.
5.
5.
6.
4.
4.

10.
11.
1 3.
12.
1 2.
11.

8.
8.
8.
8.
9.
7.

1 0.
9.
10.
9.
8.
7.

18.
18.
1 8.
18.
18.
13.

24.
25.
30.
32.
26.
24.

6 2 1 .2

S I Z E OF DANK

AMOUNT OF LOANS MADE D UR IN G F I R S T

1
1
1

F U L L MEEK OF SECOND MONTH OF QUARTER ( S E A S O N A L L Y - -A D J U S T E D ANNUAL R A T E )

1 9 8 0 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

61.
57.
59.
64.

19.
21.
13.
13.

7.
3.
5.
4.

24.
20.
22.
32.

5.
3.
6.
6.

7.
1 0.
13.
1 2.

8.
7.
8.
10.

10.
8.
11.
1 1.

21.
15.
19.
1 8.

22.
25.
22.
26.

11.
1 2.
11.
13.

49.
45.
48.
50.

1 9 8 1 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

57.
66.
58.
62.

11.
16.
17.
9.

4.
5.
4.
4.

26.
30.
26.
27.

4.
5.
5.
4.

11.
9.
6.
19.

8.
9.
8.
8.

9.
11.
9.
9.

18.
19.
17.
17.

23.
25.
24.
29.

10.
12.
16.
15.

47.
56.
42.
47.

1 9 8 2 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

67.
57.
77.
67.

13.
10.
15.
16.

4.
4.
5.
5.

30.
25.
30.
28.

6.
5.
3.
6.

1 2.
12.
21.
11.

8.
8.
8.
8.

9.
10.
10.
10.

19.
17.
19.
1 9.

32.
20.
42.
31.

21.
17.
27.
22.

44.
41.
49.
46.

1 9 8 3 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

63.
77.
52.
74.

10.
11.
13.
13.

6.
4.
4.
9.

29.
38.
25.
32.

4.
8.
5.
7.

13.
16.
6.
10.

9.
9.
8.
7.

10.
9.
9.
8.

16.
19.
18.
17.

29.
37.
17.
44.

11.
30.
14.
20.

51.
50.
38.
54.

1 9 8 4 - Q 1 ...........
- Q 2 . --------- Q 3 ...........
- Q 4 ...........

72.
60.
59.
53.

17.
11.
7.
8.

6.
6.
9.
6.

31.
27.
25.
21.

5.
4.
6.
4.

1 2.
12.
1 3.
1 2.

9.
9.
1 0.
9.

9.
7.
8.
8.

21.
16.
17.
17.

33.
27.
25.
21.

20.
16.
15.
12.

50.
46.
44.
41.

1 9 8 5 - Q 1 ........... !
- Q 2 ...........
- Q 3 ............I
- Q 4 ............1

55.
56.
49.
47.

7.
13.
7.
7.

5.
8.
6.
3.

22.
22.
22.
24.

6.
4.
5.
3.

14.
10.
1 0.
11.

7.
8.
7.
7.

7.
9.
7.
7.

16.
14.
12.
12.

26.
24.
23.
23.

13.
17.
13.
16.

41.
40.
36.
31.

1 9 8 6 - Q 1 ...........
- Q 2 ...........

50.
52.

9.
9.

8.
5.

22.
25.

3.
3.

8.
10.

6.
6.

6.
7.

12.
13.

26.
24.

14.
1 2.

35.
40.

X LOANS UNDER * 1 ,0 0 0 A R E NOT IN C L U D E D I N THE S U R V E Y .
MOST " L A R G E " BANKS ( S U R V E Y S T R A T A 1 T O 3 ) NOW H A VE A S S E T S OVER *500 M I L L I O N ,




AND MOST " O T H E R " BANKS H A V E LOWER T O T A L A S S E T S .

35

36
E S T IM A T E S FROM T H E Q U A R T E R L Y SAMPLE S U R V E Y OF BANK N O N - R E A L - E S T A T E LOANS TO FARMERS
NUMBER OF LOANS MADE ( T H O U S A N D S ) *
PURPOSE OP LOAN
P E R IO D

ALL

LOANS
FEEDER
LIVESTO CK

6 2 2 .1

OTHER
LIV E S TO C K

OTHER
CURREN T
O P E R A T IN G
EXPEN SES

FARM
M AC H IN E R Y
AND
E Q U IP M EN T

OTHER

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.

16 29 .
1 5 96.
1795.

503.
930.
929.

956.
389.
912.

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

3901.
3386.
3 3 01 .
3912.
3993.
2963.

999.
389.
328.
373.
336.
335.

291.
260.
257.
322.
295.
231.

1756.
2012.
2061.
2003.
2060.
1 7 67 .

951.
381.
305.
390.
355.
358.

399.
337.
395.
319.
352.
267.

6 2 2 .2

S I Z E OF BANK

S I Z E lOF LOAtJ
1_______(THO U S A N D S OF D O L L A R S )________
100
10 TO
AND
25 TO
|
1 TO
29
99
9
OVER

NUMBER OF LOANS MADE DUR IN G F I R S T

i1
|I
||
|I

2522.
2357.
2372.

575.
598.
591.

286.
328.
371.

95.
69.
83.

1 8 8.
1 9 9.
1 8 1.

3291.
3152.
3237.

|I
|

2227.
2228.
2190.
2319.
2917.
2060.

663.
695.
673.
609.
532.
513.

912.
913.
396.
379.
903.
296.

99.
99.
92.
1 1 0.
91.
99.

180.
175.
222.
203.
179.
181.

3222.
3211.
3078.
3210.
3269.
2781.

F U L L WEEK OF SECOND MONTH OF Q UARTER ( S E A S O N A L L Y - -A D J U S T E D ANNUAL R A T E )

1 9 8 0 - Q 1 ...........
” Q 2 ...........
“ Q 3 ...........
- Q 9 ...........

3 9 21 .
3035.
3399.
3779.

537.
969.
509.
986.

3 3 1.
239.
299.
309.

1 7 35 .
1 6 27.
1 7 53 .
1 9 58 .

927.
372.
376.
589.

375.
300.
962.
937.

2220.
2017.
2095.
2610.

659.
520.
798.
708.

953.
356.
923.
918.

97.
93.
102.
10 5.

1 7 8.
1 6 3.
1 8 8.
199.

3233.
2865.
3218.
3598.

1 9 8 1 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
“ Q 9 ...........

3278.
3626.
3 2 21 .
3363.

367.
969.
382.
393.

235.
281.
217.
296.

2089.
2095.
1 9 25 .
1 9 80.

297.
971.
399.
358.

332.
310.
283.
926.

2199.
2289.
2167.
2290.

631.
720.
619.
597.

929.
950.
367.
901.

93.
1 1 7.
69.
1 1 5.

186.
1 6 9.
1 6 6.
1 8 9.

3082.
3957.
3063.
3187.

1 9 8 2 - Q 1 ...........
- Q 2 ........... I
- Q 3 ...........
- Q 9 ...........

3161.
3271.
3 3 98 .
3 9 23 .

307.
256.
339.
383.

1 8 8.
299.
3 1 8.
289.

2139.
2001.
1 9 72.
2169.

296.
325.
290.
298.

276.
389.
3 8 1.
3 9 2.

2091.
2109.
2185.
2223.

632.
679.
669.
708.

906.
368.
395.
918.

101.
83.
1 0 3.
88.

212.
228.
229.
223.

2936.
3092.
3131.
3205.

1 9 8 3 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 9 ...........

3590.
3592.
3360.
3086.

331.
3 8 6.
3 6 0.
399.

3 3 9.
298.
259.
3 91.

2129.
2118.
2068.
1622.

366.
907.
379.
901.

938.
375.
239.
212.

2985.
2962.
2269.
2031.

653.
598.
632.
598.

352.
398.
389.
377.

1 2 9.
10 8.
60.
1 9 1.

1 78.
236.
223.
1 65.

3399.
3358.
3193.
2921.

1 9 8 9 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 9 ...........

3559.
3309.
3629.
3320.

909.
3 6 9.
3 2 3.
278.

393.
277.
313.
259.

2239.
2006.
2159.
1 8 33 .

310.
269.
512.
362.

273.
3 7 8.
263.
993.

2370.
2323.
2597.
2385.

618.
500.
505.
519.

983.
377.
393.
369.

99.
105.
85.
69.

1 9 9.
1 78.
1 7 9.
1 7 0.

3353.
3136.
3963.
3197.

1 9 8 5 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 9 ...........

2998.
3159.
2801.
2852.

257.
975.
259.
3 2 9.

2 6 7.
272.
212.
166 .

1 7 17 .
1 8 83.
1 7 10 .
1717 .

392.
329.
273.
909.

3 5 1.
229.
269.
223.

2069.
2160.
1 9 60 .
2039.

513.
576.
953.
986.

338.
320.
263.
255.

96.
99.
98.
89.

170.
170.
1 8 1.
207 .

2821.
2999.
2629.
2693.

336.
251.

1 83.
18 7.

1701.
1 5 99.

1 52.
1 8 9.

239.
267.

1 7 67.
16 30 .

995.
979.*

272.
305.*

82.
80.‘

1 9 1.
200.‘

2359.
2302.*

1 9 8 6 - Q 1 ...........
2552.
- Q 2 ........... 1
2497.
1_______________

|

* LOANS UNDER $ 1 ,0 0 0 A R E NOT IN C L U D E D I N T H E S U R V E Y .




I
|

ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 623




A V ER A G E S I Z E OF LOANS MADE (T H O U SAN D S OF D O L L A R S ) x

37

38
ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 624
A V ER A G E M A T U R I T Y OF LOANS MADE ( M G N T H S )X

OTHER
CURREN T
O P E R A T IN G
E XPEN SES

FARM
M AC H IN E R Y
AND
EQ U IP M ENT

OTHER

1 TO
9

10 TO
24

25 TO
99

100
AND
OVER

*

6 2 4 .1

OTHER
L IV E S T O C K

S IZ E

S I Z E OF LOAN
(THO U SAN D S OF D O L L A R S )

PURPOSE OF LOAN

•Q
IL.
o

P E R IO D

i
i
A L L LOANS 1
1 FE EDER
1 L IV E S T O C K
1

LARGE

OTHER

ANNUAL A V ER A G E M A T U R I T Y OF LOANS MADE

1 9 7 7 ....................
1 9 7 8 ...................
1 9 7 9 ...................

9.
8.
7.

6.
6.
6.

10.
6.
7.

6.
7.
6.

1 4.
18.
14.

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 4 ...................
1 9 8 5 ...................

7.
6.
6.
9.
8.
8.

6.
6.
5.
5.
5.
6.

7.
6.
7.
8.
7.
8.

7.
6.
7.
1 0.
8.
7.

14.
11.
8.
11.
13.
14.

7.
5.
5.
8.
8.
9.

7.
6.
6.
7.
7.
7.

7.
6.
7.
8.
8.
8.

7.
6.
7.
8.
8.
9.

8.
6.
6.
1 0.
8.
8.

7.
5.
6.
6.
7.
7.

7.
6.
7.
1 0.
8.
8.

6.
8.
6.
6.

8.
6.
8.
7.

6.
7.
4.

6.
7.
5.
6.

5*
6.
9.
5.
4.

8.
7.
6.
7.

7.
7.
7.
4.

10.
13.
8.
8.

5.
7.
12.
5.

10.
9.
6.
7.

5.
5.
7.
1 1.

8.
10.
8.
7.

4.
6.

1 1.
1 0.

6 2 4 .2

A V ER A G E M A T U R I T Y OF LOANS MADE D UR IN G F I R S T FU LL WEEK OF SECOND MONTH1 OF QUARTER
1
I
I
I1
I!

7.
5.
8.
6'

7.
7.
8.
8.

7.
6.
5.
8.

1 3.
1 3.
23.
10.

6.
7.
8.
6.

8.
6.
6.
7.

8.
6.
7.
7.

7.
6.
9.
6.

7.
7.
8.
8.

7.
5.
4.
6.

5.
8.
5.
6.

6.
6.
4.
5.

11.
13.
12.
7.

4.
6.
4.
5.

6.
7.
6.
6.

6.
6.
5.
7.

6.
6.
6.
6.

6.
7.
4.

7.
8.
5.
6.

4.
5.
7.
5.

8.
10.
4.
6.

8.
9.
6.
6.

9.
7.
8.
9.

5.
7.
4.
6.

6.
7.
6.
5.

8.
6.
6.
7.

7.
6.
6.
6.

5*
7.
9.
5.
5.

1 9 8 3 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

10.
11.
7.
7.

5.
5.
7.
5.

12.
6.
7.
7.

11.
14.
6.
7.

14.
10.
16.
8.

7.
6.
11.
10.

8.
7.
7.
6.

9.
9.
6.
8.

1 0.
8.
8.
7.

11.
13.
8.
7.

1 9 8 4 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

9.
8.
7.
6.

4.
5.
6.
5.

9.
6.
4.
8.

8.
9.
8.
6.

19.
1 3.
9.
10.

12.
9.
5.
6.

9.
7.
6.
6.

1 0.
7.
6.
6.

9.
9.
7.
7.

8.
9.
8.
6.

1 9 8 5 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

7.
9.
8.
8.

6.
7.
6.
6.

6.
10.
6.
8.

9.
8.
6.
7.

9.
16.
12.
17.

6.
9.
13.
11.

7.
7.
6.
6.

8.
8.
8.
6.

10.
9.
8.
9.

6.
9.
8.
9.

1 9 8 6 - Q 1 ...........
- Q 2 ...........

9.
9.

7.
6.

5.
7.

10.
8.

12.
43.

10.
10.

8.
8.

8.
9.

1 5.
1 1.

7.
9.

1 9 8 0 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

7.
7.
8.
7.

1 9 8 1 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

6.
7.
5.
6.

1 9 8 2 - Q 1 ...........
~ Q 2 ...........
- Q 3 ...........
- Q 4 ...........

I

X AV ER A G E M A T U R I T Y OF NONDEMAND L O A N S ,




W IT H EACH LOAN W EIG H TED BY. I T S

DOLLAR AMOUNT.

1
I1
I1
I1
I1
i
1
I1
I1
I1

1

I1
I1
I1
I1
i1
1
|1
I1
I
i1
1
I1
I1
I1
j1
1
I1
I1
I1
I1
i
1
I1
I1

ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 625
A V ER A G E E F F E C T I V E IN T E R E S T R A T E ON LOANS MADE ( P E R C E N T ) *
S I Z E OF LOAN
(TH O U S A N D S OF D O L L A R S )

PURPOSE OF LOAN
P E R IO D

A L L LOANS
FE EDER
LIV E S TO C K
6 2 5 .1

OTHER
LIV E S TO C K

OTHER
CURRENT
O P E R A T IN G
___ EXPENSES

FARM
M AC H IN ER Y
AND
EQUIPM ENT

OTHER

S I Z E OF BANK

[

1 TO
9

10 TO
24

25 TO
99

100
AND
OVER

LARGE

OTHER

ANNUAL A V E R A G E E F F E C T I V E I N T E R E S T R A T E ON LOANS MADE

1 9 7 7 ...................
1 9 7 8 ...................
1 9 7 9 ...................

8 .8
9 .6
1 1 .9

8 .6
9 .7
1 2 .1

8 .7
9 .8
1 1 .7

8 .9
9 .5
1 1 .8

9 .2
9 .6
1 1 .2

8 .9
9 .7
1 2 .1

9 .1
9 .4
1 1 .1

8 .9
9 .4
1 1 .4

8 .8
9 .5
1 1 .5

8 .6
9 .9
1 2 .8

8 .5
1 0 .2
1 3 .6

9 .0
9 .4
1 1 .4

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

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

1 5 .6
1 8 .6
1 5 .9
1 3 .6
1 3 .7
1 2 .5

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

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

14.4

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

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

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

1 4 .9
1 8 .2
1 7 .0
1 4 .0
1 4 .3
1 3 .2

1 5 .9
1 8 .9
1 6 .4
1 3 .0
1 3 .7
1 2 .1

1 6 .2
1 9 .8
1 6 .1
1 2 .1
1 3 .1
1 1 .2

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

6 2 5 .2

1 7 .9
1 7 .1
1 4 .3
1 4 .6
1 3 .7

A V ER A G E E F F E C T I V E IN T E R E S T R A T E ON LOANS MADE DUR IN G F I R S T

FU LL WEEK OF SECOND MONTH OF QUARTER

1 9 8 0 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

1 4 .1
1 7 .4
1 3 .5
1 5 .5

1 4 .4
1 7 .7
1 3 .4
1 5 .5

1 3 .5
1 6 .6
1 3 .7
1 5 .3

1 4 .3
1 7 .5
1 3 .7
1 5 .4

1 3 .0
1 6 .4
1 3 .3
1 5 .1

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

1 3 .5
1 6 .5
1 3 .5
1 5 .1

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

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

1 5 .0
1 7 .8
1 3 .5
1 5 .8

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

1 3 .7
1 7 .1
1 3 .7
1 5 .3

19 81 -Q 1
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

17 9
1 7 .9
1 9 .6
1 8 .8

1 7 .8
18! 4
1 9 .6
1 8 .5

1 7 .4

17 9
17 ! 7
1 9 .5
1 8 .9

1 7 .4
17 16
1 8 .9
1 8 .1

1 8 .3
17 ! 7
2 0 .1
1 8 .9

17 4
17 1 5
1 8 .8
1 8 .5

17 .7
17! 6
1 9 .1
1 8 .8

1 7 .7
1 7 .7
1 9 .3
1 8 .5

1 8 .4
18 *2
2 0 .3
1 9 .0

1 9 .9
19! 5
2 0 .8
1 8 .9

17

1 9 .9
1 8 .7

1 9 8 2 - Q 1 ...........
-Q 2 .. . . .
- 9 3 ...........
- Q 4 ...........

1 7 .7
1 7 .8
1 6 .7
1 4 .7

1 7 .6
1 7 .8
1 6 .8
1 3 .8

1 7 .4
1 7 .5
1 5 .5
1 5 .4

1 7 .7
1 7 .7
1 6 .8
1 5 .3

1 7 .9
1 8 .2
1 7 .3
1 5 .7

1 7 .9
1 7 .9
1 6 .9
1 4 .5

1 7 .7
1 7 .6
1 7 .4
1 5 .6

1 7 .3
1 7 .6
1 7 .1
1 5 .3

1 7 .7
1 7 .8
1 7 .4
1 5 .4

1 7 .8
1 7 .8
1 6 .2
1 3 .9

1 8 .0
1 7 .9
1 5 .6
1 3 .3

1 7 .5
1 7 .7
1 7 .4
1 5 .4

1 9 8 3 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

1 3 .8
1 3 .2
1 3 .6
1 3 .6

1 3 .8
1 3 .4
1 3 .1
1 4 .0

1 4 .2
1 3 .0
1 4 .1
1 3 .9

1 4 .0
1 3 .2
1 3 .8
1 3 .3

1 4 .1
1 4 .8
1 4 .3
1 3 .9

1 3 .1
1 2 .6
1 3 .1
1 2 .9

1 4 .4
1 4 .0
1 4 .3
1 4 .3

1 4 .4
1 3 .8
1 4 .0
1 4 .2

1 4 .1
1 4 .0
1 3 .9
1 3 .9

1 3 .3
1 2 .6
1 2 .7
1 3 .2

1 2 .5
1 2 .0
1 2 .2
1 1 .8

1 4 .1
1 3 .9
1 4 .1
1 4 .2

1 9 8 4 - Q 1 ...........
-Q 2 . . . . .
- Q 3 ...........
- Q 4 ...........

1 3 .5
1 4 .2
1 4 .8
1 4 .2

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

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

1 3 .8
1 4 .2
1 4 .8
1 4 .4

1 3 .9
1 5 .0
1 5 .0
1 4 .5

1 3 .4
1 3 .9
1 4 .4
1 4 .3

1 4 .1
1 4 .6
1 5 .0
1 4 .7

1 4 .1
1 4 .3
1 4 .6
1 4 .4

1 4 .0
1 4 .4
1 4 .9
1 4 .3

1 2 .9
1 4 .0
1 4 .7
1 3 .8

1 2 .2
1 3 .3
1 4 .4

1 4 .1
1 4 .5
1 4 .9

13

14

1 9 8 5 - Q 1 ...........
- Q 2 ...........
- 9 3 ...........
- Q 4 ...........

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

1 3 .0
1 2 .9
1 1 .7
1 2 .1

1 3 .6
1 2 .9
1 2 .4
1 1 .6

1 3 .6
1 3 .4
1 2 .5
1 2 .2

1 3 .4
1 4 .1
1 3 .3
1 3 .7

1 2 .4
1 2 .0
1 1 .5
1 2 .2

1 3 .9
1 4 .0
1 3 .2
1 3 .6

1 3 .6
1 3 .2
1 3 .0
1 2 .9

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

1 2 .6
1 2 .3
1 1 .7
1 1 .3

1 1 .7
1 1 .5
1 0 .6
1 0 .6

1 3 .8
1 3 .6
1 2 .9
1 3 .1

1 9 8 6 - Q 1 ...........
- 9 2 ...........

1 2 .0
1 1 .5

1 1 .9
1 1 .3

1 2 .6
1 1 .7

1 1 .8
1 1 .6

1 2 .7
1 2 .5

1 1 .9
U .3

1 2 .9
1 2 .4

1 2 .8
1 2 .1

1 2 .6
1 1 .9

1 1 .4
1 0 .9

1 0 .3
9 .7

1 2 .8
1 2 .0

is

'.o

4

5

1 7 .5
1 9 .1
1 8 .7

4

* THE A P P R O X IM A T E COMPOUNDED ANNUAL I N T E R E S T R A T E ON EACH LOAN I S C A L C U L A T E D FROM S U R V E Y DATA ON T H E S T A T E D R A T E AND OTHER TERMS
OF T H E L O A N .
I N C O M P U TIN G T H E A V E R A G E OF T H E S E E S T IM A T E D E F F E C T I V E R A T E S , EACH LOAN I S W EIG H T E D BY I T S D OL LA R AMOUNT.




39

40

ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 626
PE R C EN TA G E OF LOANS MADE W IT H A F L O A T I N G I N T E R E S T R A T E *
PURPOSE OF LOAN
P E R IO D

A L L LOANS
FEEDER
L IV E S TO C K
6 2 6 .1

OTHER
L IV E S T O C K

OTHER
CURREN T
O P E R A T IN G
___ EXPEN SES

FARM
M AC H IN E R Y
AND
EQ U IP M EN T

OTHER

S I Z E OF L
O
A
N
1------ S i Z E O r B A N K '
_______(TH O U S A N D S OF D O L L A R S ) ________
100
OTHER
LAR G E
AND
25 TO
10 TO
1 TO
OVER
99
24
9

ANNUAL PER C EN TA G E OF LOANS MADE W IT H A F L O A T I N G I N T E R E S T R A T E

1 9 7 7 ...................
1 9 7 8 ...................
1 9 7 9 ...................

17.
17.
17.

i
I
1
1

28.
1 9.
17.

14.
20.
17.

1 2.
14.
16.

6.
2.
7.

23.
28.
24.

2.
2.
3.

4.
3.
6.

7.
8.
10.

45.
42.
35.

60.
62.
66.

2.
1.
3.

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

22.
29.
39.
43.
39.
65.

1
1
I
1
1
1
1

20.
33.
48.
48.
41.
61.

18.
22.
30.
29.
32.
45.

21.
31.
43.
48.
42.
43.

1 1.
15.
15.
18.
24.
20.

33.
28.
31.
44.
39.
47.

7.
15.
24.
26.
24.
28.

12.
1 8.
26.
29.
31.
32.

13.
22.
30.
35.
29.
42.

37.
43.
53.
56.
53.
57.

75.
80.
66.
78.
71.
77.

8.
16.
26.
30.
28.
33.

6 2 6 .2

P E R C EN TAG E OF LOANS MADE W IT H A F L O A T I N G IN T E R E S T R A T E D UR IN G F I R S T

F U L L WEEK OF SECOND MONTH OF QUARTER

1 9 8 0 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

17.
27.
21.
22.

1 6.
20.
19.
23.

9.
1 6.
23.
26.

1 9.
30.
1 6.
19.

4.
15.
11.
1 6.

29.
39.
34.
27.

4.
7.
7.
9.

5.
21.
9.
14.

6.
18.
13.
16.

36.
39.
40.
34.

68.
80.
75.
74.

5.
1 2.
8.
9.

1 9 8 1 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

29.
23.
36.
31.

36.
30.
33.
35.

19.
1 6.
23.
31.

33.
20.
40.
38.

13.
12.
21.
1 6.

23.
30.
42.
27.

11.
14.
1 8.
19.

14.
13.
22.
25.

23.
15.
24.
26.

46.
34.
56.
41.

84.
80.
86.
72.

17.
11.
16.
20.

1 9 8 2 -Q 1 .. . . .
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

47.
38.
37.
35.

42.
47.
63.
44.

53.
25.
21.
26.

55.
43.
30.
41.

31.
13.
23.
5.

39.
37.
23.
29.

23.
26.
27.
21.

26.
24.
29.
25.

35.
29.
33.
22.

65.
56.
43.
51.

71.
74.
54.
65.

35.
23.
27.
21.

1 9 8 3 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

43.
54.
45.
29.

5 7.
54.
69.
30.

26.
30.
23.
3 1.

55.
61.
40.
25.

24.
23.
22.
8.

23.
57.
51.
47.

22.
30.
26.
23.

29.
32.
35.
22.

36.
42.
33.
27.

58.
70.
74.
32.

81.
83.
85.
62.

34.
38.
30.
1 8.

1 9 8 4 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

39.
42.
35.
38.

45.
26.
62.
42.

20.
47.
8.
55.

34.
52.
39.
41.

43.
32.
12.
13.

52.
3 4.
46.
27.

23.
25.
24.
23.

33.
33.
38.
22.

31.
29.
27.
28.

49.
57.
45.
60.

59.
80.
72.
79.

30.
30.
22.
26.

1 9 8 5 - Q 1 ...........
- Q 2 ...........
- Q 3 ...........
- Q 4 ...........

43.
49.
41.
46.

63.
60.
68.
59.

20.
54.
36.
66.

43.
44.
43.
42.

29.
24.
9.
1 2.

47.
52.
40.
46.

25.
32.
26.
26.

28.
27.
35.
39.

37.
48.
44.
39.

55.
62.
47.
59.

90.
74.
67.
76.

26.
39.
32.
31.

1 9 8 6 - Q 1 ...........
- Q 2 ...........

42.
60.

69.
57.

30.
28.

43.
67.

25.
34.

30.
63.

26.
44.

37.
42.

52.
49.

43.
75.

57.
72.

36.
57.

* PER C EN TAG E OF AMOUNT OF LOANS MADE.
A F L O A T I N G R A T E I S T I E D TO SOME OTHER R A T E ( S U C H AS T H E P R IM E R A T E OR A MARKET I N T E R E S T
R A T E ) , AND N E IT H E R T H E BANK NOR T HE BORROWER KNOWS THE E X A C T R A TE OF I N T E R E S T TO BE CHARGED OVER T H E L I F E OF T H E L O A N .




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........ 44
Average loan/deposit ratio, and other indicators of relative credit availability.•.
Interest rates••••••••.................. .............................•••••••......
Trends in real estate values and loan volume........... ......••••............•••••

42
46
48
50

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 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 nonmember 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

41

42
FEDERAL R E S ER VE BANK Q U A R T E R L Y S U R V E YS OF A G R I C U L T U R A L C R E D I T C O N D I T I O N S A T COMMER CIAL BANKS
T A B L E 631
FARM N O N - R E A L - E S T A T E L E N D IN G E X P E R I E N C E , COMPARED W IT H A Y E A R E A R L I E R
P E R C E N T A G E OF BANKS R E P O R T IN G
DEMAND FOR LOANS
QUARTER
H IG H E R

LONER

SAME

6 3 1 .1

SEVEN TH ( C H I C A G O )

1 9 8 4 -Q 1 . . .
-Q 2 ...
-Q 3 ...
-Q 4 ...

15.
1 6.
20.
29.

39.
31.
39.
39.

46.
53.
AO.
32.

1 9 8 5 -Q 1 .. .
-Q 2 . . .
-Q 3 .. .
-Q 4 . . .

26.
29.
33.
47.

*1.
37.
A3.
37 .

33.
34.
24.
16.

1 9 8 6 -Q 1 . . .

47.

34.

6 3 1 .2
1 9 8 4 -Q 1 .. .
-Q 2 ...
-Q 3 ...

-Q4...

--------- f o n d A v A i t A b i l l t Y ---------1r T B A H - R E P A Y M g R T R A t E '
1
LONER
SAME
H IG H E R
LONER
SAME H IG H E R

18.
20.

23.
26.

1

FEDER AL R E S ER VE D I S T R I C T

23.
19.

10,

M IK ,

N IK

AG R IC U LTU R A L

)

COLLATERAL
LONER

R E Q U IR E D

SAME

H IG H E R

BANKS

A l.
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.

n .
6.
9.
5.

58.
55.
55.
46.

31.
39.
36.
49.

57.
48.
45.
33.

38.
48.
50.
36.

4.
4.
5.
31.

5.
7.
7.
25.

37.
45.
48.
40.

58.
48.
45.
36.

0.
0.
0.
1.

30.
32.
28.
36.

70.
68.
72.
63.

4.

41.

36.

47.

17.

1 6.

50.

34.

0.

33.

67.

1

54.
54.

IN K ,

SAME

52.
52.
54.
55.

i9 .
i1
1
___________ 1

25.
28.

IL K ,

H IG H E R

LONER

7.
10.
12.
11.

TENTH ( K A N S A S C I T Y )
58.
5 1.

(

1 R e n e w a l s oft E x t t N S t o N s

i
j
I

([ C O ,

FEDER AL R ESER VE D I S T R I C T

15.
14.

19.
10.

53.
58.

56.
54.

31.
29.

52.
53.

25.
36.

54.
55.

KS,

43.
44.

43.
40.

MO*, N E ,

NM*,

5.
3.

3.

OKX,

NY )

50.
43.

A G R IC U LTU R A L
47.
54.

3.
5.

3.
4.
2.

46.
42.

51.
56.

BANKS

0.
1.

48.
39.

1.
0.

40.
29.

60.
71.

52.
60.

1985-Q1...
-Q2...
-Q3...I
-Q4...1

24.
27.
34.
31.

50.
49.
47 .
54.

26.
25.
19.
15.

8.
7.
9.
5.

60.
61.
59.
58.

31.
32.
32.
37.

54.
55.
50.
36.

42.
43.
45.
47.

4.
2.
5.
17.

4.
3.
*5.
11.

42.
46.
47.
49.

54.
51.
48.
40.

1.
1.
1.
0.

28.
29.
25.
27.

72.
70.
73.
73.

1986-Q1...j

37.

48.

14.

4.

48.

48.

38.

51.

11.

8.

57.

35.

2.

28.

70.

53.
49.
48.
43.

47.
56.

631. 4

E L E V EN T H ( D A L L A S )

1984-Q1...
-Q2...
-Q3...
-Q4...

15.
26.
19.
20.

50.
39.
43.
44.

35.
35.
38.
36.

1985-Q1...
-Q2...
-Q3...
-Q4...

27.
29.
32.
28.

47.
52.
50.
52.

1986-Q1...

35.

42.




FEDER AL R ESER VE D I S T R I C T

( LA*,

NM*,

OK*, T X

)

8.
12.
14.
10.

57.
56.
56.
57.

35.
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.

26.
19.
18.
20.

11.
10.
14.
12.

51.
54.
52.
54.

38.
36.
34.
34.

43.
37.
47.
48.

53.
54.
45.
45.

5.
9.
8.
7.

5.
10.
8.
8.

48.
53.
48.
46.

47.
38.
43.
45.

0.
0.

1.

43.
43.
35.
30.

57.
57.
64.
69.

23.

13.

51.

36.

50.

44.

6.

5.

44.

51.

1.

26.

73.

1

32.

1.

0.

50.
52.

TABLE 631 (CONTINUED)
FARM N O N - R E A L - E S T A T E L E N D IN G E X P E R I E N C E , COMPARED W IT H NORMAL C O N D I T I O N S
P E R C EN TAG E OF BANKS R E P O R T IN G
DEMAND FOR LOANS

FUND A V A I L A B I L I T Y

RENEWALS OR 1
E X T E N S IO N S

LOAN REPAYMENT

COLLATERAL

R E Q U IR E D

QUARTER
LONER

LOWER

SAME

H IG H E R

6 3 1 .3

N IN T H ( M I N N E A P O L I S )

SAME

H IG H E R

LONER

FEDER AL R E S ER VE D I S T R I C T

SAME
( M ix ,

H IG H E R
MN,

LONER

MT/ ND,

SD ,

N IX

SAME

H IG H E R

LONER

SAME

H IG H E R

)

1 9 8 3 -Q 1 .. .
-Q 2 ...
-Q 3 ...
-Q 9 ...

1 8.
23.
25.
15.

68.
67.
72.
70.

19.
9.
3.
19.

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
XXX
X XX
X XX

59.
36.
32.
37.

91.
62.
65.
61.

0.
2.
3.
2.

1.
1.
2.
9.

36.
98.
69.
99.

63.
51.
39.
96.

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

1 9 8 9 -Q 1 .. .
-Q 2 ...
-Q 3 ...
-Q 9 . . .

11.
9.
23.
16.

70.
69.
63.
69.

19.
22.
19.
20.

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
XXX
X XX
X XX

59.
95.
50.
68.

96.
53.
96.
31.

0.
2.
9.
1.

2.
0.
3.
2.

99.
93.
95.
32.

53.
57.
52.
66.

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
X XX
XXX
X XX

1 9 8 5 -Q 1 .. .
-Q 2 ...
-Q 3 . . .
-Q 9 ...

12.
1 9.
29.
20.

58.
69.
62.
69.

30.
17.
19.
16.

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

60.
57.
58.
61.

90.
90.
37.
36.

0.
2.
5.
3.

1.
2.
1.
3.

32.
98.
98.
39.

67.
50.
51.
62.

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

XXX
XXX
XXX
XXX

1 9 8 6 -Q 1 .. .

23.

58.

19.

X XX

X XX

XXX

62.

39.

9.

1.

95.

59.

X XX

X XX

X XX

6 3 1 .5

F IF T H

6.
x*x
7.
6.

X XX

X XX

X XX

X XX

X XX

58.
99.

36.
96.

0.
0.

65.
61.

36.
39.

3.
3.
13.
3.

55.
70.
71.
71.

91.
27.
16.
26.

6

0.
.
0.
0.

52.
55.
61.
52.

98.
39.
39.
98.

3.
3.

0.
0.

67.
70.
71.
71.

30.
27.
29.
29.

0.
0.

37.
95.
36.
96.

60.
55.
61.
59.

7.

71.

21.

9.

29.

68.

(R IC H M O N D )

FEDER AL R ESER VE D I S T R I C T

( MD ,

NC,

SC/

VA,

1 9 8 3 -Q 1 .. .
-Q 2 ...
-Q 3 ...
-Q 9 . . .

X XX

X XX

X XX

X XX

X XX

30.

67.

X XX

XXX

33.

69.

XXX

X XX

39.
29.

52.
69.

10.
12.

0.
0.

92.
96.

58.
55.

36.
96.

61.
52.

3.
3.

1 9 8 9 -Q 1 .. .

21.

52.

28.

10.

13.
19.

70.
71.
71.

19.
16.
10.

3.
10.
10.

95.
61.
58.
68.

95.
36.
32.
23.

35.
18.
13.
19.

66.

12.

1985-Q1...
-Q2...
-Q3...
-Q9...

33.
17.
25.
32.

97.
73.
61.
59.

20.
10.

19.
19.

0.
0.

7.
7.

73.
77.
71.
79.

27.
23.
21.
19.

27.
27.
32.
18.

73.
73.
69.
82.

0.
0.
0.
9.
0.

1986-Q1...

29.

36.

36.

19.

57.

29.

21.

71.

7.

-Q2...
-Q3...
-Q4...

36.

||
j1
1
||
||
|i
I|
i1
1
j|




55.

9.

3.

79.
68.
81.

NVX )

3.

0.

3.
19.

|

99.

96.

0.

3.

9.

55.

96.

43

44
FEDE R A L R E S ER VE BANK Q U A R T E R L Y S U R V E YS OF A G R IC U L T U R A L C R E D I T C O N D I T I O N S A T COMMER CIAL BANKS
T A B L E 632
FARM N O N - R E A L - E S T A T E LOAN VOLUME E X P E C T E D DUR IN G T H E N E XT Q U A R T E R , COMPARED W IT H VOLUME OF LOANS MADE A Y E A R E A R L I E R
PE R C EN TA G E OF BANKS R E P O R T IN G
END OF
QUARTER

TOTAL

FEEDER C A T T L E

D A IR Y

LONER SAME H IG H E R

LOWER SAME H IG H E R

LONER SAME H IG H E R

632. 1

SEVENTH ( C H I C A G O )

FEDERAL R E S ER VE D I S T R I C T

(

IL X ,

1 9 8 A -Q 1 .. .
-Q 2 . . .
-Q 3 . . .
-Q A . . .

13.
17.
22.
25.

3A.
A5.
A9.
A6.

53.
38.
30.
29.

31.
39.
3A.
31.

55.
55.
55.
56.

13.
6.
1 1.
1 3.

3 3.
3 1.
31.
32.

57.
6A .
65.
61.

9.
5.
A.
7.

1 9 8 5 -Q 1 .. .
-Q 2 . . .
-Q 3 ...
-Q A . . .

30.
35.
AO.
A l.

A7 .
A8.
A6 .
AA.

23.
18.
1A.
15.

36.
A6 .
53.
AA.

57.
51.
A l.
51.

7.
3.
6.
5.

29.
33.
35.
37.

61.
61.
61.
59.

1 0.
6.
5.
A.

1 9 8 6 -Q 1 . . . I

A6.

A l.

13.

53.

A5.

3.

A9.

A8 .

3.

632. A

1

ELE V EN T H ( D A L L A S )

FE DERAL R E S ER VE D I S T R I C T

(

Lower
IN K ,

1
1

LAX,

sam e

10,

LONER SAME H IG H E R

h ig h e r

M ix ,

FARM M AC H IN ER Y

O P E R A T IN G

CROP STO R AG E

N IX

)

A G R IC U LTU R A L

LONER SAME H IG H E R

BANKS

38.
36.
27.
36.

5A.
53.
A6.
A8.

8.
11.
27.
16.

8.
9.
17.
17.

20.
35.
AA.
37.

72.
57.
39.
A5.

37.
A3.
A3.
55.

A l.
A3.
A6 .
37.

22.
1A.
12.
8.

AO.
37.
31.
A3.

53.
53.
A5.
A8.

7.
11.
2A.
9.

23.
23.
36.
30.

36.
A9.
AA.
AA.

A l.
28.
20.
26.

65.
62.
6A .
59.

31.
3A.
32.
3A.

5.
A.
A.
7.

38.

55.

6.

39.

38.

2A.

59.

32.

9.

NMX,

OKX, TX )

1 9 8 A -Q 1 .. .
-Q 2 ...
-Q 3 . . .
-Q A . . .

1 7.
1 6.
1 8.
23.

58.
56.
58.
5A.

25.
28.
23.
23.

1 8.
21.
20.
17.

63.
5A.
50.
5A.

19.
25.
30.
29.

3 2.
31.
26.
26.

61.
62.
70.
69.

8.
7.
A.
5.

2A.
2A.
15.
22.

69.
62.
63.
65.

7.
1A.
23.
1A.

7.
18.
1A.
21.

55.
A3.
51.
A9.

38.
39.
35.
30.

27 .
32.
30.
37.

59.
55.
5A.
A9.

1A.
12.
16.
1A.

1 9 8 5 -Q 1 .. .
-Q 2 . . . I
-Q 3 . . . !
-Q A ...

26.
27.
29.
3 1.

5 8.
57.
5A.
5A.

16.
1 6.
16.
1 5.

2A.
30.
29.
25.

53.
A8.
A9.
59.

23.
22.
22.
16.

32.
33.
32.
32.

65.
63.
65.
66.

3.
3.
A.
2.

2A.
2 3.
2 1.
2A.

63.
59.
65.
67.

13.
19.
1A «
10.

25.
20.
2A.
28.

A l.
52.
53.
A9.

35.
28.
2A.
23.

A2.
A l.
A6 .
51.

A3.
A6 .
A6 .
A3.

15.
13.
8.
6.

1 9 8 6 -Q 1 . . .

29.

55.

15.

38.

50.

1 2.

A l.

5 5.

3.

30.

60.

11.

26.

A7.

27.

58.

35.

7.

632. 5

F IF T H

(R IC H M O N D )

FEDERAL R ESER VE D I S T R I C T

( MD,

NC,

SC,

VA,

NVX

)

1 9 8 A -Q 1 . . .
-Q 2 ...
-Q 3 . . .
-Q A . . .

21.
19.
20.
26.

A l.
63.
53.
52.

38.
19.
27.
23.

28.
31.
19.
1 7.

56.
58.
63.
71.

16.
1 2.
1 9.
1 3.

27.
3 6.
21.
25.

62.
61.
71.
75.

1 2.
A.
7.
0.

30,
16.
20.
33,

56.
72.
60.
57.

1 5.
13.
20.
10.

10.
12.
16.
23.

A5.
67.
58.
55.

A5.
21.
26.
23.

3 2.
25.
20.
A3.

50.
56.
63.
A7 .

1 8.
19.
17.
1 0.

1 9 8 5 -Q 1 .. .
-Q 2 ...
-Q 3 . . .
-Q A ...

36.
32.
25.
32.

50.
57.
6A.
5A.

1A.
11.
11.
1A.

22.
22.
18.
23.

70.
65.
73.
6A.

9.
13.
9.
1A.

22.
27.
21.
30.

70.
65.
71.
70.

7.
8.
8.
0.

39,
28.
15.
AO.

5A.
62.
50.
52.

7.
10.
3 5.
8.

35.
33.
37.
32.

A5.
50.
52.
50.

21.
17.
11 .
18.

A7 .
A3.
39.
39.

A7 .
50.
61 .
5A.

7.
7.
0.
7.

1 9 8 6 -Q 1 .. .

A l.

A8.

11.

30.

61.

9.

A2.

58.

0.

28.

6A.

8.

32.

5A.

1A.

A6 .

A6 .

7.




TABLE 632 (CONTINUED)
E X P E C T E D FARM LOAN DEMAND AND REPAYMENT C O N D I T I O N S
P E R C EN TAG E OF BANKS R E P O R T IN G
fcxf»fcCT£b DEMAND ^OR FARM LOANS D UR IN G NE XT Q U A R T E R ,
COMPARED W IT H NORMAL DEMAND
END OF
QUARTER

S H O R T -T E R M
N O N - R E A L - E S T A T E LOANS
H IG H E R

IN T E R M E D IA T E -T E R M |
N O N - R E A L - E S T A T E LOANS |

LOWER

SAME

6 3 2 .3

N IN T H ( M I N N E A P O L I S )

LOWER

SAME

|

DEBT E X T E N S IO N
OR R E F IN A N C IN G

H IG H E R ___11___ LOWER

FEDER AL R ESER VE D I S T R I C T

sam e

(: M I X ,

P R O P O R T IO N OF FARM
CUSTOMERS LOANED UP
TO T H E I R P R A C T I C A L
DEBT L I M I T , COMPARED
W IT H A Y E A R E A R L I E R

n t c e n r a v i 1___ LOWER
MN, M T,

ND,

SD,

H I*

SAME

H IG H E R

A D V E R S E CHANGE
EXPECTED IN
FAR M ER S’ A B I L I T Y
TO R E P A Y DEBT I N
T H E N E XT QUARTER
1

)

1 9 7 8 -Q 1 . . .
-Q 2 ...
-Q 3 ...
-Q 4 ...

3.
A.
12.
3.

58.
69.
69.
77.

39.
27.
29.
20.

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
X XX
XXX
X XX

2.
1 0.
20.
10.

69.
76 .
62.
76.

35.
1 9.
19.
19.

7.
1 6.
23.
30.

61.
62.
62.
61.

31.
22.
1 5.
8.

33.
1 2.
20.
9.

1 9 7 9 -Q 1 . . .
-Q 2 . . .
-Q 3 . . .
-Q 4 ...

3.
3.
9.
17.

66.
63.
98.
59.

30.
39.
93.
30.

X XX
X XX
X XX
X XX

X XX
X XX
XXX
X XX

X XX
X XX
X XX
X XX

8.
8.
10.
6.

76.
73.
93.
56.

1 7.
1 9.
97.
38.

28.
18.
8.
6.

60.
56.
63.
62.

13.
26.
28.
32.

15.
24.
34.
46.

1 9 8 0 -Q 1 . . .
-Q 2 ...
-Q 3 ...
-Q 4 . . .

1 8.
27.
21.
95.

95.
56.
67.
96.

38.
16.
12.
9.

X XX
X XX
X XX
X XX

XXX
X XX
X XX
X XX

X XX
X XX
X XX
XXX

9.
7.
16.
19.

38.
59.
63.
51.

53.
39.
21.
35.

3.
1.
5.
11.

90.
96.
69.
62.

57.
53.
26.
27.

83.
69.
29.
35.

1 9 8 1 -Q 1 . . .
-Q 2 ...
-Q 3 ...
-Q 4 ...

11.
22.
27.
21.

73.
63.
57.
59.

16.
16.
17.
25.

36.
95.
51.
52.

59.
97.
92.
91.

9.
7.
7.
7.

7.
8.
9.
9.

60.
62.
93.
21.

33.
30.
53.
75.

9.
5.
6.
3.

63.
62.
60.
92.

32.
33.
34.
55.

37.
32.
58.
67.

1 9 8 2 -Q 1 . . .
-Q 2 ...
-Q 3 ...
-Q 4 ...

13.
7.
1 9.
10.

60.
75.
59.
65.

27.
18.
21.
25.

52.
96.
93.
92.

37.
97.
97.
92.

1 1.
6.
10.
16;

9.
5.
3.
3.

26.
52.
32.
23.

70.
93.
65.
79.

*2.
2.
2.
1.

37.
97.
52.
93.

62.
51.
46.
56.

55.
44.
61.
43.

1 9 8 3 -Q 1 . . . I
-Q 2 ...
-Q 3 ...
-Q 4 ...

25.
21.
22.
10.

63.
72.
71.
67.

13.
8.
8.
22.

36.
33.
26.
26.

56.
62.
65.
63.

8.
5.
9.
12.

9.
9.
3.
9.

93.
67.
59.
51.

53.
29.
38.
95.

2.
5.
5.
9.

51.
69.
67.
62.

47.
26.
28.
29.

23.
23.
37.
24.

1 9 8 4 -Q 1 .. .
-Q 2 . . .
-Q 3 ...
-Q 4 ...

6.
7.
1 6.
11.

71.
77.
65.
61.

23.
15.
19.
29.

23.
30.
39.
35.

63.
60.
50.
51.

19.
1 0.
16.
19.

1.
5.
9.
3.

56.
50.
92.
30.

93.
95.
59.
67.

9.
1.
3.
2.

63.
58.
56.
99.

33.
41.
41.
54.

31.
46.
50.
48.

1 9 8 5 -Q 1 . . .
-Q 2 ...
-Q 3 ...
-Q 4 ...

10.
13.
19.
13.

63.
68.
62.
60.

27.
19.
19.
27.

26.
38.
91.
39.

53.
99.
98.
99.

21.
13.
11.
17.

1.
2.
1.
2.

39.
51.
35.
37.

60.
97.
69.
61.

3.
2.
2.
1.

46.
55.
46.
47.

51.
43.
52.
52.

44.
59.
58.
47.

1 9 8 6 -Q 1 .. .

15.

69.

22.

35.

56.

8.

2.

93.

55.

5.

55.

41.

47.




|
|
1
|
|
|
1

I
i

45

46
FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
AV ER A G E L O A N / D E P O S IT R A T I O ,

QUARTER

AND P E R C EN TA G E OF BANKS R E P O R T IN G OTHER C O N D I T I O N S T H A T R E F L E C T R E L A T I V E C R E D I T A V A I L A B I L I T Y

R E F U S fe D 'O R l
L O A N / D E P O S IT R A T I O I S —
REDUCED A
A C T IV E L Y
AVER AGE
FARM LOAN
S E E K IN G
L O A N / D E P O S IT
NEW
B EC AU SE OF
R A TIO
FARM
LOWER
AT
H IG H E R
A SHORTAGE
A T END OF
LOAN
THAN
D E S IR E D
THAN
OF L O A N A B LE
QUARTER
ACCOUNTS
D
E
S
IR
E
D
L
E
V
E
L
D
E
S
IR
E
D
FUNDS
(P E R C EN T)
6 3 3 .1

SEVENTH ( C H I C A G O )

FE DER AL R E S ER VE D I S T R I C T

(

IL * ,

NUMBER til* F a RH L o a n r e f e r r a l s T O —
|EXPECT PROBLEMS]
I N M E E T IN G FARM
NONBANK A G E N C IE S
CORRESPONDENT BANKS
LOAN R EQ U ESTS
DUR IN G THE NEXT
COMPARED W ITH
COMPARED
W
IT
H
QUARTER BEC AUSE
NONE A Y E A R E A R L I E R
NONE A Y E A R E A R L I E R
OF A SHORTAG E
OF FUNDS
LOWER s a m e H IG H E R
LOWER SAME H IG H E R
IN * ,

10,

M I* ,

W I* )

A G R IC U L T U R A L

BANKS

1 9 8 4 -Q 1 .. .
-Q 2 . . .
-Q 3 . . .
-Q 4 ...

54.
56.
57.
56.

67.
64.
59.
56.

21.
22.
24.
25.

1 2.
14.
17.
1 9.

X XX
X XX
X XX
X XX

XXX
XXX
XXX
XXX

XX*
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

X XX
X XX
X XX
X XX

X XX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

1 9 8 5 -Q 1 .. .
-Q 2 . . .
-Q 3 . . .
-Q 4 . . .

56.
55.
55.
53.

55.
62.
62.
67.

28.
24.
25.
22.

1 7.
14.
1 4.
1 1.

X XX
X XX
X XX
XXX

XXX
XXX
XXX
XXX

X XX
XXX
XXX
XXX

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
XXX,
X XX
X XX

X XX
X XX
X XX
X XX

XXX
X XX
X XX
XXX

X XX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

1 9 8 6 -Q 1 .. .

51.

72.

19.

8.

X XX

XXX

X XX

X XX

X XX

X XX

X XX

X XX

X XX

XXX

XXX

6 3 3 .2

TENTH (K A N S A S C I T Y )

( CO , K S ,

FEDER AL R E S ER VE D I S T R I C T

NMK, O K* , WY )

MO*, N E ,

A G R IC U L T U R A L

BANKS

1 9 8 4 -Q 1 .. .
-Q 2 ...
“ Q3. . .
-Q 4 ...

60.
61.
61.
59.

53.
51.
47.
50.

9.
1 1.
1 0.
11 .

38.
37.
43.
3 9.

7.
8.
9.
6.

51.
44.
39.
33.

X XX
X XX
XXX
X XX

52.
54.
. 57.
55.

11.
10.
1 6.
18.

77.
75.
73.
72.

13.
1 5.
1 1.
1 0.

26.
31.
36.
3 3.

4.
4.
10.
4.

5 2.
56 .
57 .
50.

44.
41 .
33.
46 .

1 9 8 5 -Q 1 .. .
-Q 2 ...
-Q 3 ...
-Q 4 . . .

58.
5 9.
5 8.
55.

60.
57.
58.
61.

8.
9.
8.
1 2.

32.
34.
34.
27.

9.
8.
5.
8.

32.
33.
3 3.
3 2.

X XX
XXX
XXX
XXX

58.
61.
66.
65.

1 5.
1 4.
1 7.
22.

74.
76.
75.
74.

1 1.
1 0.
8.
4.

21.
21.
23.
22.

4.
3.
5.
7.

3 4.
42.
44.
4 6.

62.
55.
50.
46 .

1 9 8 6 -Q 1 . . .

53.

66.

11.

24.

7.

39.

XXX

64.

1 8.

75.

7.

21.

5.

49.

46.

6 3 3 .4

ELE V EN T H ( D A L L A S )

FEDERAL R ESER VE D I S T R I C T

(

LAX,

NM*,

OK*,

TX

)

1 9 8 4 -Q 1 .. .
-Q 2 . . .
-Q 3 ...
-Q 4 ...

60.
61.
62.
60.

50.
38.
36.
43.

36.
46.
45.
42.

14.
16.
19.
15.

5.
5.
4.
4.

5 0.
4 0.
43.
40.

XXX
XXX
XXX
X XX

XXX
XXX
XXX
X XX

19.
9.
11.
1 8.

71.
80.
79.
71.

1 0.
1 1.
11.
11.

X XX
XXX
XXX
XXX

6.
6.
8.
8.

71.
76 .
63.
60.

23.
1 8.
29.
32.

1 9 8 5 -Q 1 . . .
-Q 2 . . . 1
-Q 3 ... 1
-Q 4 . . . 1
1
1 9 8 6 -Q 1 . . . 1
1

56.
57.
57.
57.

52.
45.
49.
43.

41.
43.
41.
49.

7.
1 2.
10.
8.

6.
5.
6.
5.

33.
34.
31.

XXX

XXX
XXX
XXX
XXX

X XX
XXX
X XX
X XX

17.
1 5.
1 4.
1 5.

69.
74.
75.
74.

14.
11.
11.
11.

XXX
XXX
XXX
XXX

1 1.
7.
8.
9.

50.
63.
61.
59.

39.
30.
31 .
32.

56.

X XX

XXX

XXX

7.

XXX

XXX

X XX

1 2.

71.

17.

XXX

8.

60.

32.




FEDER AL R ES ER VE BANK Q U A R T E R L Y S U R V E Y S OF A G R IC U L T U R A L C R E D I T C O N D I T I O N S A T COMMERCIAL BANKS
T A B L E 633 ( C O N T I N U E D )
A V ER A G E L O A N / D E P O S I T R A T I O , AND P E R C EN TAG E OF BANKS R E P O R T IN G OTHER C O N D I T I O N S T H A T R E F L E C T R E L A T I V E C R E D I T A V A I L A B I L I T Y

QUARTER

NUMBER OF FARM LOAN R E F E R R A L S T O —
I E X P E C T PROBLEM SI
REFUSED OR
REDUCED A 1A C T I V E L Y | I N M E E T IN G FARMI
A V ER A G E
I L O A N /D E PO S IT R A T IO I S —
BANKS
NONBANK A G E N C IE S
CORRESPONDENT
FARM
LOAN
1
S
E
E
K
IN
G
|
LOAN
R
EQ
U
ESTS
|
L O A N / D E P O S IT |
NEW
|DURING T H E NEXT|
BEC AU SE OF
R A T IO
I
1 COMPARED N I T H
COMPARED W IT H
FARM
|QUARTER B EC A U S E)
A SHORTAG E
AT
H IG H E R
A T END O F
I LONER
NONE
NORMAL NUMBER
OF LO A N A B LE
LOAN
| OF A SHORTAG E I NONE | NORMAL NUMBER
THAN
D E S IR E D
THAN
QUARTER
FUNDS
ACCOUNTS|
OF FUNDS
LEVEL
D E S IR E D
(PER CEN T)
|D E S IR E D
1LOWER SAME H IG H E R
LOWER SAME H IG H E R
_________________1___________________________________
6 3 3 .3

N IN T H ( M I N N E A P O L I S )

FEDER AL R E S ER VE D I S T R I C T

( M IX ,

MN, MT,

ND,

SD ,

H lx

)

1 9 8 3 -Q 1 . . .
-Q 2 ...
-Q 3 ...
-Q 4 ...

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.
5 8.
62.
61.

3.
6.
J 2.
3.

16.
19.
19.
18.

6.
8.
7.
7.

45.
63.
64.
58.

34.
1 0.
1 0.
17.

1 9 8 4 -Q 1 .. .
-Q 2 ...
-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.

5 4.
64.
55.
52.

8.
7.
8.
10.

16.
1 4.
21.
16.

3.
3.
4.
1.

42.
59.
44.
46.

39.
24.
31 .
37.

1 9 8 5 -Q 1 .. .
-Q 2 ...
-Q 3 ...
-Q 4 ...

62.
62.
62.
60.

34.
45.
51.
54.

58.
46.
44.
39.

8.
9.
5.
7.

1.
2.
4.
2.

74.
5 7.
54.
38.

1.
3.
2.
2.

34.
23.
24.
34.

4.
7.
8.
6.

51.
59.
6 2.
51.

11.
11.
6.
1 0.

8.
11.
12.
1 7.

1.
0.
3.
1.

38.
36.
49.
42.

53.
52.
36.
40.

1 9 8 6 -Q 1 .. .

59.

59.

37.

3.

1.

48.

1.

31.

5.

52.

1 2.

1 2.

1.

45.

41 .

6 3 3 .5
1 9 8 3 -Q 1 . . .
-Q 2 ...
-Q 3 ...
-Q 4 ...

61.

F IF T H

( R IC H M O N D )

FE D ER AL R E S ER VE D I S T R I C T

( MD,

H VX )

65.
73.

0.
0.
0.
0.

76.
67.
68.
68.

10.
7.
7.
8.

0.
0.
1 1.

14.

X XX

X XX

X XX

3.

67.

62.
62.

68.
63.

32.
34.

0.
3.

0.
0.

1 9 8 4 -Q 1 . . .
-Q 2 ...
-Q 3 ...
-Q 4 ...

64.
64.
64.
66.

54.
42.
41.
33.

42.
55.
48.
60.

4.
3.
10.
7.

1 9 8 5 -Q 1 .. .
-Q 2 ...
-Q 3 ...
-Q 4 ...

66.
65.
66.
65.

38.
30.
37.
35.

52.
63.
56.
58.

1 9 8 6 -Q 1 . . .

68.

36.

50.




VA,

69.

X XX

42.

SC,

X XX
XXX
X XX
XXX

X XX

58.

N C,

0.

X XX

X XX

0.

31.

X XX

X XX

X XX

X XX

0.

41.

XXX

X XX

76.
84.

0.
0.

24.
13

0.
3.

57.
52.

4.
0.

3 2.
23.

7.
26.

X XX
X XX
X XX
X XX

81.
83.
82.
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.

8.
3.
4.
7.

X XX
XXX
X XX
X XX

78.
82.
71.
89.

0.

0.

22
19
29
8

0.

0.

66.
69.
68.
57.

0.
4.

52.
64.
5 2.
63.

0.
0.
0.

0.

31.
29.
48.
33.

17.
7.
0.
4.

0.

68.

X XX

63.

4.

26

7.

48.

4.

41.

7.

X XX

0.
0.

0.

0.

55.

3.

47

48
FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
I N T E R E S T R A T E S ON FARM LOANS
most

END OF
QUARTER

common

OTHER
N O N -R E A L - E S T A T E LOANS
FEEDER
LO N G -T ER M
C A T T L E O P E R A T IN G
REAL
SHORTLOANS
IN T E R M E D IA T E LOANS
ESTATE
____ TERM___ _____ TERM______ ____ LOANS
639. 1

A V E R A G E IN T E R E S T R A T E
R A TE S I N T H I S
S H O R T -T E R M
N O N -R E A L - E S T A T E LOANS

I N T E R E S T " r A t E CHARGED AM FARM L o a n s
(A V E R A G E , PERCEN T)

SEVENTH ( C H I C A G O )

USHER

FEDER AL R E S ER VE D I S T R I C T

(

SAME
IN * ,

IL * ,

•XPECTED D U R IN G t h E N E XT QUARTER , COMPARED N I T H
QUARTER (P E R C E N T A G E OF BANKS R E P O R T IN G )
LO N G -TER M
IN T E R M E D I A T E - T E R M
REAL E S T A T E LOANS
N O N - R E A L - E S T A T E LOANS

H IG H E R
10,

s S mI

L0HER
N ix

M ix ,

)

H IG H E R

A G R IC U L T U R A L

LAMER

SAME

H IG H E R

BANKS

1 9 8 3 -Q 1 .
-Q 2 .
-Q 3 .
-Q 9 .

1 3 .7
1 3 .5
1 3 .7
1 3 .6

1 3 .7
1 3 .5
1 3 .7
1 3 .6

X XX X
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1 3 .5
1 3 .2
1 3 .9
1 3 .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

1 9 8 9 -Q 1 .
-Q 2 .
-Q 3 . m#
-Q 9 .

1 3 .8
1 9 .3
1 9 .9
1 3 .6

1 3 .8
1 9 .3
1 9 .9
1 3 .6

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1 3 .9
1 3 .9
1 9 .0
1 3 .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

1 9 8 5 -Q 1 .
-Q 2 . . .
-Q 3 . . .
-Q 9 .

1 3 .5
1 2 .9
1 2 .8
1 2 .7

1 3 .5
1 2 .9
1 2 .8
1 2 .7

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1 3 .2
1 2 .6
1 2 .5
1 2 .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

1 9 8 6 -Q 1 .

1 2 .9

1 2 .9

xxxx

xxxx

1 1 .7

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

639. 2

TENTH ( K A N S A S C I T Y )

X XX X

FEDERAL R E S ER VE D I S T R I C T

1 9 8 3 -Q 1 .
-Q 2 . . .
-Q 3 . . .
-Q 9 .

1 3 .9
1 3 .8
1 3 .9
1 3 .9

1 9 .0
1 3 .9
1 9 .0
1 9 .0

xxxx
xxxx
xxxx
xxxx

1 9 .3
1 9 .2
1 9 .3
1 9 .3

1 9 .1
1 9 .1
1 9 .1
1 9 .0

xxxx
xxxx
xxxx
xxxx

1 9 8 9 -Q 1 .
~Q2. , .
-Q 3 . . .
-Q 9 .

1 9 .1
1 9 .5
1 9 .6
1 3 .9

1 9 .2
1 9 .6
1 9 .7
1 9 .1

xxxx
xxxx
xxxx
xxxx

1 9 .5
1 9 .8
1 9 .9
1 9 .2

1 9 .1
1 9 .9
1 9 .6
1 9 .0

1 9 85 -Q 1 .
-Q 2 . , .
-Q 3 . . .
-Q 9 .

1 3 .7
1 3 .2
1 3 .1
1 3 .0

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

xxxx
xxxx
xxxx
xxxx

1 9 .0
1 3 .6
1 3 .5
1 3 .3

1 3 .7
1 3 .9
1 3 .1
1 3 .0

1 9 8 6 -Q 1 .

1 2 .6

1 2 .7

xxxx

1 2 .8

1 2 .9




( CO,

KS,

MOX,

NE,

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx

xxxx
xxxx

X XX X

xxxx
xxxx

xxxx
xxxx

xxxx
xxxx
xxxx
xxxx
xxxx

NMX,
xxxx
xxxx
xxxx
xxxx

OKX,

NY )
xxxx
xxxx
xxxx
xxxx

A G R IC U L T U R A L
xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

BANKS
xxxx
xxxx
xxxx
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

X XX X

I

FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 634 (CONTINUED)
INTEREST RATES ON FARM LOANS
AVERAGE INTEREST RATE f■XPECTED DURlHG tHE HEXT QUARTER, COMPARED WITH
RATES IN THIS (tUARTER (PERCENTAGE OF BANKS REPORTING)____________
LONG-TERM
INTERMEDIATE-TERM
SHORT-TERM
NON-REAL-ESTATE LOANS
REAL ESTATE LOANS
NON-REAL-ESTATE LOANS

MOST COMMON INTEREST RATE CHARGED ON FARM LOANS
(AVERAGE, PERCENT)
END OF
QUARTER

OTHER
NON-REAL-ESTATE LOANS LONG-TERM
FEEDER
REAL
CATTLE OPERATING
ESTATE
LOANS
SHORTINTERMEDIATELOANS
_________ TERM_________ TERM______ ____LOANS____
634. 3

NINTH (MINNEAPOLIS) FEDERAL RESERVE DISTRICT

-Q 4 ...

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1985-Q 1. . .
-Q 2 ...
-Q 3 ...
-Q 4 ...

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

13 .9
13 .4
13 .2
13 .1

1 4 .1
1 3 .6
13 .5
13 .3

13 .6
12 .9
12 .8
12 .5

19 86 -Q 1. . .

xxxx

xxxx

1 2 .8

1 3 .1

1 2 .3

19 84-Q 1. . .
-Q 2 ...

634. 4

LONER

14 .1
14 .6
14 .9
14 .3

14 .3
1 4 .8
1 5 .0
14 .5

( M I*,

ELEVENTH (DALLAS) FEDERAL RESERVE DISTRICT

LONER

HIGHER

MN, MT, ND,

SD,

NI*

SAME

HIGHER

LOWER

SAME

HIGHER

)

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.

6.
69.
13.
31.

71.
31.
82.
67.

23.
0.
5.
2.

4.
61.
9.
28.

68.
39.
83.
69.

28.
0.
7.
2.

2.
50.
8.
18.

77.
45.
86.
80.

20.
5.
5.
2.

52.

48.

0.

49.

51.

0.

48.

52.

0.

2.
4.
10.
67.

1 3 .7
14 .2
14 .4
1 3 .9

SAME

(

LAX , NMX, OKX,

tx

:)

1 9 8 4 -Q 1 .. . I
- Q 2 . ..1
-Q 3. . . I
- Q 4 . ..1

14 .1
1 4 .7
14 .8
1 3 .6

14 .1
1 4 .8
1 4 .8
13 .7

xxxx
xxxx
xxxx
xxxx

14 .3
1 4 .8
1 4 .9
13 .8

14.1
1 4 .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

1 9 8 5 -Q 1 ...
-Q 2 ...
- Q 3 . ..1
-Q 4. . .

13 .8
13 .4
13 .1
13 .0

13 .8
13 .4
13 .2
1 2 .9

xxxx
xxxx
xxxx
xxxx

1 4 .1
13 .7
13 .4
13 .2

1 3 .7
1 3 .4
1 3 .1
1 3 .1

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

1986 -Q 1. . .

12 .4

12 .6

xxxx

12 .8

1 2 .9

xxxx

xxxx

xxxx

I|
I
Ij
|
1
1
j|
1

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

634. 5

FIFTH (RICHMOND) FEDERAL RESERVE DISTRICT

( MD, NC,

SC,

VA, NVX )

1984-Q 1. . .
-Q 2. . .
-Q 3 ...
-Q 4 ...

1 3 .5
14 .2
14 .3
1 3 .1

1 3 .3
14 .1
1 4 .2
13 .1

xxxx
xxxx
xxxx
xxxx

13 .6
14 .5
14 .5
13 .4

1 3 .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-Q 1. . .
-Q 2 ...
-Q 3 ...
- Q 4 . ..1

12 .9
12 .3
12 .3
11 .6

12 .8
12 .0
12 .0
12 .0

xxxx
xxxx
xxxx
xxxx

13 .3
12 .5
12 .6
1 1 .8

1 3 .3
12 .9
12 .8
11 .3

1 xxxx
j 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

1986-Q 1. . .

1 1 .7

11 .5

xxxx

1 1 .8

11 .7

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx




49

50
FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TREN DS I N

FARM R EAL E S T A T E V A L U E S AND LOAN VOLUME

-------------------- 1---------------------------------------------------------------RSRRlt VALUE o f 0OOD FARMLAND--------------------------------------------------------------PERCENTAGE CHANGE IFROM
A YEAR EARLIER

PERCENTAGE CHANGE
DURING QUARTER

END OF
QUARTER
ALL

635.1

DRYLAND

IR R IGATED

RANCHLAND

DRYLAND

IR r i GATED

SEVENTH (CHICAGO) FEDERAL RESERVE DISTRICT

feANtHLAND
(

ILK,

PERCENTAGE OF BANKS EXPECTING
TREND DURING THE NEXT
QUARTER TO BE
DOWN
INK,

10,

STABLE
M ix,
1

Mix )

UP

PERCENTAGE OF BANKS EXPECTING
FARM REAL ESTATE LOAN VOLUME
DURING THE NEXT QUARTER,
COMPARED WITH VOLUME MADE
A YEAR EARLIER, TO B E - LOWER

SAME

HIGHER

AGRICULTURAL BANKS

19 8 A -Q 1 .. .
-Q 2 ...
-Q 3 ...
-Q A ...

-3 .
-1 .
-A .
-6 .

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

-5.
-8 .
-1 0 .
-15 .

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

32.
32.
A6 .
60.

62.
67.
53.
A0.

6.
1.
1.
0.

31.
39.
39.
AA.

52.
51.
52.
A3.

17.
10 .
8.
13.

1 9 8 5 -Q 1 .. .
-Q 2 ...
-Q 3 ...
-Q A . . . 1

-6 .
-5 .
-5 .
-A .

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

-18 .
-20 .
-2 2 .
-2 0 .

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

60.
55.
62.
55.

39.
A5.
38.
A3.

1.
1.
1.
2.

A8.
3A.
38.
35.

38.
32.
35.
38.

1A.
35.
27.
26.

1 9 8 6 -Q 1 .. .

-3.

xxxx

xxxx

xxxx

-1 7 .

xxxx

xxxx

xxxx

A0.

59.

1.

3A.

35.

31.

6 3 5 .A

ELEVENTH (DALLAS) FEDERAL RESERVE DISTRICT

( LAX,

NMX, 0KX,

TX )

1 9 8A -Q 1 .. .
-Q 2. . .
-Q 3 ...
-QA. . .

xxxx
xxxx
xxxx
xxxx

2.
2.
-1.
-2 .

-1 .
2.
1.
0.

A.
2.
2.
-A .

xxxx
xxxx
xxxx

XXXX

6.
8.
6.
2.

-5.
-5.
-2.
1.

12 .
10 .
9.
A.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

29.
36.
23.
36.

62.
58.
69.
57.

9.
6.
8.
7.

1985-Q 1. . .
-Q 2 ...
-Q 3 ...
-Q A ...

xxxx
xxxx
xxxx
xxxx

-3.
-2 .
-2 .
-3 .

-0 .
-A .
“ A.
-8 .

-2 .
-3 .
-1 .
-3 .

xxxx
xxxx
xxxx
xxxx

-3.
-7.
-8 .
-9 .

2.
-3.
-7.
-1 5 .

-3.
-8 .
-10 .
-9 .

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

38.
39.
A3.
AA.

55.
53.
A6 .
A7 .

7.
8.
11 .
9.

1 9 8 6 -Q 1 ...

xxxx

-1 .

-3 .

-2.

xxxx

-8.

-17 .

-9 .

XXX

XXX

XXX

A8.

38.

15.

25.
27.
30.
38.

57.
67.
63.
55.

18 .
7.
7.
7.

A8.
A l.
AA.
39.

A8.
52.
A8 .
50.

3.
7.
7.
12.

AA.

52.

A.

6 3 5 .5
19 8A -Q 1 .. .
-Q 2 ...
-Q 3 ...
-Q A ...

-2 .
5.
-9.

1985-Q 1. . .
-Q 2 ...
-Q 3. . .
-Q A ...

-5 .
-5 .
-2 .

1 9 8 6 -Q 1 . . .




1

.

-2 .
-2 .

FIFTH (RICHMOND) FEDERAL RESERVE DISTRICT

.

( MD, NC, SC, VA, wvx )

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
-7 .
-6 .

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
x xx x
xxxx
xxxx

2A.
25.
23.
33.

76.
75.
77.
67.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

-9.
-17 .
-1 0 .
-13 .

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

x xx x
xxxx
xxxx
xxxx

A0.
37.
36.
33.

60.
63.
6A.
67.

xxxx

xxxx

xxxx

-10 .

xxxx

xxxx

xxxx

36.

6A.

1

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

0
0
0
0

FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 63 5 (CONTINUED)
TRENDS IN FARM REAL ESTATE VALUES AND LOAN VOLUME
MARKET VALUE OF GOOD FARMLAND

a UT^

63 5 .2

DRYLAND

IR R IGATED

PERCENTAGE OF BANKS EXPECTING
TREND DURING THE NEXT
QUARTER TO BE—

PERCENTAGE CHANGE FROM
A YEAR EARLIER

PERCENTAGE CHANGE
DURING QUARTER

END OF
QUARTER

RANCHLAND___

TENTH (KANSAS CITY)

ALL

DRYLAND

IRR IRANCHGATED ___LAND___1

FEDERAL RESERVE DISTRICT

( CO,

DOWN

STABLE

UP

KS, MOX,

NE, NMX,

OKX, WY )

PERCENTAGE OF BANKS EXPECTING
DEMAND FOR LONG-TERM FARM
REAL ESTATE LOANS DURING THE
NEXT QUARTER, COMPARED WITH
NORMAL DEMAND, TO BE—
LOWER

SAME

HIGHER

AGRICULTURAL BANKS

1983 -Q 1. . .
-Q 2 ...
-9 3 ...
-9 9 ...

xxxx
xxxx
xxxx
xxxx

-0.
3.
-2 ,
-1 .

0.
1.
-1.
-1 .

-1 .
1.
-3 .
-0 .

xxxx
xxxx
xxxx
xxxx

-8 .
-1.
-1.
-1.

-7 .
-9 .
-2.
-1 .

-8 .
-6 .
-5 .
-9 .

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

1 9 8 9 -9 1 ...
-9 2 ...
-9 3 ...
-9 9 ...

xxxx
xxxx
xxxx
xxxx

-6 .
-0.
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NINTH (MINNEAPOLIS) FEDERAL RESERVE DISTRICT

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37 .
39.
29.
33.

97 .
56.
53.
58.

16 .
5.
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33.
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57 .
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32.
25.
22.
26.

56.
38.
92.
91.

12.
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33.

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33.

50.

17 .




( MIX , MN, MT,

Mix )

6 3 5 .3

ND, SD,

51