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E.15 (125)

AGRICULTURAL FINANCE
DATABOQfe«.m
j„„^_________
.■

Of

June 1987

k' " ‘ -

Guide to internal tables of

0

s*ffY

in 6 /

on sources

Page

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

3

Farm debt outstanding (including households), annual and quarterly... 25
Amount and characteristics of farm loans made by commercial banks.... 34
Farm credit conditions at commercial banks....... ...................41

Emanuel Melichar




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 the last issue (June 1986) and other earlier issues.
Because several revisions and corrections in concepts and data are made in this issue, discard earlier issues.
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
sources and other information (pages 3, 25, 34, or 41), the front cover identifying the Databook and date of
issue, and this page providing subscription information. This will be much appreciated, as most inquiries in
the past have been from persons who did not have or did not examine these pages. Remaining substantive
questions may be addressed to the author at the address shown on the cover.

To receive the Agricultural Finance Databook (Statistical Release E.15)
on a regular basis, send your name and address (including zip code) to:
Publications Services, Mail Stop 138
Federal Reserve Board
Washington, D.C. 20551
This release is furnished on a complimentary basis to college and university teachers, libraries of educational
institutions, government departments and agencies, and public libraries. Others should enclose the annual
subscription fee of $4.00.
Notice of change of address also should be sent to Publications Services.
showing your old address.

Include a copy of the back cover

New data series in this issue
Farm returns and cost of debt that reflect the exclusion of CCC "loans" (see note on page 3).
Quarterly series of total farm debt, by lender, that are consistent with the annual year-end estimates made
by the USDA (see note on page 25).




PROFITABILITY OF FARM CAPITAL
101

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

4

FARM SECTOR FINANCIAL DATA IN 1986 DOLLARS
112
342
412

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

6
8
10

FARM SECTOR FINANCIAL DATA IN CURRENT DOLLARS
111
341
411
511
521
531

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

12
14
16
18
20
22

Price index used in computing values in 1986 dollars and real capital gains.... 24

Data are for the farm sector excluding farm households. Except as noted below, data are USDA series published in
Economic Indicators of the Farm Sector, National Financial Summary, 1985, USDA, ERS, ECIFS 5-2, November 1986.
Income data for 1910-39 are from predecessor publications. Data on assets and debt 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 1986 are estimated primarily from USDA forecasts published in
Tables 32, 33, and 36 of Agricultural Outlook, AO-131, ERS, USDA, June 1987, except that debt estimates are based
on reports from lenders.
Several series in this section differ from those published by the USDA. In Tables 101 through 341, farm debt
excludes CCC "loans," and, as a temporary stratagem, a corresponding amount has been subtracted from farm assets.
Because farmers neither repay nor pay interest on most CCC "loans," this treatment improves the estimates of
return on assets, cost of debt, and return on equity.
(Proceeds of CCC "loans" are included in farm income.)
Tables 411, 511, and 531 show debt totals both including and excluding CCC "loans." Table 411 shows assets before
the adjustment described above, but the series differs from that published by the USDA because its bank deposit
component has been replaced by a series estimated by the author.




3

4
TABLE 101
RATES OF RETURN TO FARM ASSETS AND EQUITY (EXCLUDING FARM HOUSEHOLDS)

YEAR

AMOUNTS, ANNUAL AVERAGE
CURRENT DOLLARS
(MILLIONS OF DOLLARS)
ASSETS

DEBT

AMOUNTS, ANNUAL AVERAGE
1986 DOLLARS, PCE DEFLATOR
(MILLIONS OF DOLLARS)

EQUITY

ASSETS

DEBT

EQUITY

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

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.

495934.
512016.
510640.
517150.
522941.
537793.
541517.
515289.
488008.
478837.

67284.
71453.
75283.
79798.
82838.
86340.
88367.
86559.
82599.
83522.

428650.
440563,
435357.
437352.
440104.
451453.
453150.
428730.
405409.
395314.

5.5
3.5
5.6
3.9
4.8
5.0
4.9
10.1
8.9
7.6

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

8.2
5.1
4.7
6.0
3.4
5.6
2.7
4.4
2.5
7.9

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

71296.
62991.
57984.
56617.
55275.
54696.
53 884.
53 540.
54345.
54 781.

14607.
15 393.
14 907.
14585.
13 852.
13228.
13043.
12 955.
13 027.
12 860.

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

421549.
416915.
409769.
393060.
382991.
369597.
360673.
365261.
375817.
378830.

86366.
10 1879.
10 5343.
101252.
95975.
89387.
87301.
88381.
90083.
88929.

335182.
315036.
304425.
291808.
287016.
280211.
273372.
276880.
285734.
289901.

4.5
1.2
3.2
3.8
3.6
6.7
5.2
5.1
5.5
5.7

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

1 9 3 0 ...|
1931...
1932...
1933...
1934...
1935...
1936...
1937...
1938...
1939...

51736.
44764.
37 358.
34694.
36123.
38133.
40250.
41014.
40401.
40 402.

12291.
11517.
10604.
95 61.
8808.
86 26.
85 08.
8317.
8269.
8271.

39445.
33 247 .
26754.
25132.
27315.
29507.
31741.
32696.
32132.
32131.

366970.
352798.
332419.
320191.
309238.
318749.
331975.
326348.
326713.
328861.

87179.
90769.
94359.
88242.
75405.
72103.
70175.
66183.
66869.
67322.

279791.
262029.
238060.
231949.
233833.
246646.
261800.
260166.
259844.
261539.

2.5
1.9
.2
2.1
2.5
7.5
4.6
7.4
3.5
3.7

41 667.
45760.
53840.
62988.
70962.
78271.
87137.
96878.
103755.
10 5453.

84 0 4 .
8 5 60 ,
8 2 72 ,
76 0 4
69 8 4
67 1 4
7035
7725
85 7 4
92 74

33263.
37200.
45568.
55384.
63978.
71557.
80102.
89153.
95181.
96180.

334763.
342182.
364203.
389959.
415498.
440624.
452320.
455285.
461044.
470419.

67521.
64009.
55953.
47074.
40893.
37 794.
36 518.
36 304.
38099.
41369.

267242.
278172.
308250.
342885.
374605.
402830.
415802.
418980.
422944.
429051.

3.6
6.4
9.1
8.1
4.7
4.6
6.9
5.8
7.7
3.4

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




1

RETURN TO EQUITY
(PERCENT)

COST OF DEBT
(PERCENT)

RETURN TO ASSETS
(PERCENT)

5.2
2.9
5.4
3.3
4.4
4.6
4.5
10.8
9.4
7.8

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

8.4
5.0
4.8
6.1
3.0
6.1
4.0
6.9
4.6
10.8

5.4
15.8
9.4
5.6
5.4
5.1
7.3
8.2
7.0
7.9

3.9
-.6
2.0
2.8
2.6
6.6
4.8
4.7
5.2
5.4

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

-13.4
-8.9
3.5
-2.5
1.0
3.0
2.2
8.0
7.8
6.6

-6.7
-11.6
-8.3
1.9
5.1
2.0
2.3
1.0
-1.0
.0

13.2
18.0
14.6
4.3
.9
3.4
2.8
4.1
6.1
5.2

1.2
.3
-2.3
.6
1.4
8.1
4.4
8.1
3.1
3.2

-7.0
-12.7
-15.3
5.0
3.2
3.5
5.1
-5.0
-4.0
2.9

-5.8
-12.3
-17.6
5.7
4.6
11.6
9.5
3.1
-.9
6.2

4.2
8.8
9.8
7.4
5.0
6.0
10.2
6.6
2.2
-.4

.9
-3.5
-4.5
-2.2
.4
-.7
-5.0
-1.4
3.1
5.8

3.2
6.6
9.8
8.5
4.7
4.5
7.1
5.8
7.9
3.2

-2.5
5.3
5.9
8.0
4.3
2.8
.0
3.4
-2.6
-2.2

.7
12.0
15.7
16.5
9.0
7.3
7.1
9.2
5.3
1.0

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

-9.6
-2.9
5.0
-.4
2.1
3.5
3.4
8.0
7.6
6.9

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

-3.8
-6.4
-8.6
3.1
1.2
2.2
3.5
-4.1
-3.0
2.3

-1.3
-4.5
-8.5
5.3
3.7
9.7
8.1
3.3
.5
6.0

6.4
6.5
6.4
6.1
6.0
5.4
5.1
5.1
5.1
5.2

-2.8
2.7
3.5
6.1
3.4
2.0
-.8
2.6
-2.6
-2.0

.8
9.1
12.6
14.2
8.2
6.6
6.1
8.3
5.1
1.4

5.1
5.3
5.3
5.3
5.3
5.3
5.2
5.3
5.3
5.4

1
E

1
1

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
1986 DOLLARS, PCE DEFLATOR'
(MILLIONS OF DOLLARS)

RETURN TO EQUITY
I
COST OF DEBT
(PERCENT)
I
(PERCENT)
1
TOTAL
REAL
REAL
TOTAL I
REAL
TOTAL
INCOME CAPITAL RETURN INTEREST CAPITAL REAL
INCOME CAPITAL RETURN
GAINS
GAINS
GAINS COST
RETURN TO ASSETS
(PERCENT)

ASSETS

DEBT

EQUITY

ASSETS

DEBT

EQUITY

1 9 50 .
1 9 51 .
1952 .
1 9 53 .
1 9 59 .
1 9 55 .
1956 .
1957 .
1958 .
1959.

113685.
129317.
139781.
131072.
130685.
139930.
190999.
198957.
160956.
169769.

10 178.
11 699.
12902.
13099.
13322.
19 910.
15981.
16539.
18120.
20177.

103508.
117623.
121879.
117979.
117363.
120020.
125018.
132929.
192336.
199587.

995528.
531221.
591970.
516153.
512858.
520902.
533056.
598739.
579876.
600217.

99361.
98036.
51881.
51581.
52281.
55789.
58735.
60907.
65989.
71336.

951166.
983185.
990089.
969572.
960577.
969618.
979321.
987831.
519392.
528881.

9.6
5.9
9.9
3.3
3.1
2.2
2.2
2.2
3.7
1.7

8.1
5.0
-6.5
-5.6
1.8
1.3
3.6
2.9
5.7
.7

12.7
10.9
-2.0
-2.3
9.9
3.5
5.8
5.1
9.9
2.9

1960.
1961.
1962 .
1963.
1969 .
1965.
1966.
1967 .
1968.
19 69 .

172591.
17 7198.
189808.
192517.
200995.
212559.
227152.
239590.
25 1993.
2.63259.

21857.
23293.
25 399.
28 031.
30798.
33980.
37999.
90 651.
92965.
95025.

150735.
153956.
159969.
169987.
169697.
178579.
189659.
198889.
208529.
218230.

599085.
607688.
622569.
639112.
659022.
681861.
706833.
727538.
730802.
733259.

75867.
79709.
85377.
93055.
10 0990.
109003.
11 6669.
123967.
129899.
125910.

523218.
527980.
537192.
596057.
553532.
572858.
590169.
609071.
605953.
607899.

2.3
3.0
2.9
3.0
2.9
3.9
3.7
2.8
2.5
3.1

-1.2
2.1
1.9
1.5
2.5
9.0
2.1
.5
-.8
-.7

1.1
5.0
9.3
9.5
5.0
7.9
5.8
3.3
1.8
2.9

1970.
1971 .
1972.
1973.
1979 .
19 75 .
1976 .
1 9 77 .
1978
19 79 .

279131.
290653.
321823.
381680.
933555.
979939.
553137.
629268.
719190.
850222.

97930.
50826.
55792.
62905.
71503.
80290,
9 0 38 3,
1031 93
118308
1381 72

226701.
239827.
266081.
318776.
362052.
399195.
962755.
521126.
600832.
712051.

729737.
739255.
786989.
878788.
903509.
929859.
1009078.
1068836.
11 97007.
1291628.

126258.
129272.
13 6311.
199833.
199008.
15 9786.
16 9883.
17 6595.
18 8698.
201780.

603979.
609982.
650672.
733955.
759995.
770068.
899195.
892292.
958310.
1039899.

3.0
3.0
9.2
7.7
9.5
3.6
2.1
1.7
2.3
2.5

-.7
2.8
8.1
10.8
.0
6.8
9.5
3.9
8.9
5.0

1980.
1 9 81 .
1982
19 83 ,
1 9 89 .
1985 .
1986 .

960316.
1002598.
985229.
95 8759.
899892.
| 803968.
| 726568.
1
____________

157660
173026
18 9999
189907
1 9 08 95
182596
166156

802657.
829523.
800731.
768852.
709097.
621922.
560913.

1266375.
1210269.
1125126.
1051779.
95 0672.
820992.
726568.

207907.
208879.
210692.
208332.
201619.
186298.
16 6156.

1058968.
1001390.
919939.
893998.
799057.
639199.
560913.

1.2
2.2
2.1
1.2
3.1
3.5
9.1

-.9
-7.3
-7.3
-9.9
-19.2
-13.1
-9.0




'

5.5
5.6
5.6
5.6
5.5
5.5
5.5
5.6
5.6
5.7

5.2
3.2
2.9
.9
.5
1.3
3.1
2.5
1.3
2.1

.3
2.9
3.2
9.7
5.1
9.2
2.5
3.1
9.3
3.6

9.5
5.9
9.3
3.1
2.9
1.8
1.7
1.8
3.9
1.2

9.9
5.8
-6.9
-6.1
2.0
1.7
9.5
3.5
6.6
1.1

13.9
11.2
-2.6
-3.1
9.9
3.9
6.2
5.9
10.0
2.3

5.8
5.8
5.8
5.9
5.9
5.8
5.9
6.1
6.2
6.9

1.6
1.3
1.7
1.7
1.9
2.2
2.9
2.9
9.9
9.9

9.2
9.5
9.1
9.2
9.5
3.6
3.0
3.1
1.8
2.1

1.8
2.5
2.9
2.5
1.8
2.9
3.3
2.1
1.8
2.9

-1.1
2.6
1.9
2.0
3.3
5.2
3.1
1.2
-.0
.1

.7
5.1
9.9
9.5
5.0
8.1
6.3
3.3
1.8
2.9

2.2
5.9
12.3
18.9
9.6
10.9
11.6
5.2
11.3
7.5

6.8
6.6
6.6
7.0
7.6
7.6
7.8
7.9
8.3
9.1

9.9
9.3
3.7
7.9
9.0
6.3
5.0
6.1
7.9
9.2

2.3
2.9
2.9
-.9
-1.9
1.3
2.8
1.8
.9
-.1

2.2
2.3
3.7
7.8
3.9
2.8
1.0
.5
1.2
1.2

.0
9.3
10.6
19.5
1.8
9.5
12.3
5.3
12.1
7.7

2.2
6.6
19.3
22.3
5.7
12.3
13.3
5.8
13.3
8.9

.7
-5.2
-5.2
-3.7
-11.1
-9.6
-9.9

9.9
11.0
11.9
10.8
10.6
9.8
9.1

9.5
6.8
9.9
3.9
3.9
3.9
2.3

.9
9.2
7.0
6.9
7.2
6.5
6.8

-.5
.9
-.0
-1.2
1.1
1.6
2.7

1.3
-7.5
-8.0
-5.1
-17.1
-16.0
-11.0

.8
-7.1
-8.0
-6.3
-16.0
-19.9
-8.3

1
1
!
!
1
1
1
I
1

|
|

5

6
TABLE 112
FARM CASH FLON AND RETURNS TO FACTORS (LABOR, MANAGEMENT, AND CAPITAL)
1986 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS
1
less!
1EQUALS * L e s s *
1
GROSS ! NONFACTOR
CASH CAPITAL
INCOME I OPERATING
FLON CONSUMP­
1EXPENSES
FROM
TION
FACTORS
1

YEAR

LESS:

EQUALS:
INCOME
FROM
FACTORS

HIRED
LABOR

LESS:

EQUALS:

(EXCLUDING FARM HOUSEHOLDS)

EQUALS:|

OPERATORS*
INCOME INTEREST INCOME
FROM
LABOR AND
ON
FROM
MANAGEMENT ASSETS
DEBT
EQUITY
(IMPUTED) 1

ASSETS

DEBT

13966.
8379.
-9705.
10617.
-7190.
3991.
-11919.
-29560.
-31990.
1978.

1037.
2135.
1997.
1160.
3912.
9653.
12698.
11899.
10627.

90693.
26070.
29 009.
30789.
1/861,
30217.
19699.
22690.
12 1 5 0 .
37657.

35888.
22058.
20885.
26669.
13253.
27686.
18290.
29533.
18 571.
92779.

12911.
-2091.
5970.
8296.
7920.
18612.
13059.
12975.
19822.
15727.

-59202.
-16798.
7251.
-16799.
-5899.
-11609.
-6618.
10996.
8086.
9570.

1293.
-9216.
-2617.
1157.
1376.
1979.
-983.
-1953.
-997.
-1276.

-90362.
-11910.
20969.
-1623.
80 9 9 ,
13 060,
12 292.
2 9 26 1,
2 8 72 5
26 0 9 8 ,

-99998.
-28005.
10609.
-7297.
2952.
8981.
5959.
22019.
22911.
19021.

5593.
5867.
6025.
5911.
9516.
3898.
3611.
3397.
3907.
3523.

3901.
882.
-5983.
1968.
3302.
19990.
11565.
20950.
8092.
8988.

-13789.
-22720.
-28700.
10 091.
3709.
7119.
11727.
-13592.
-9687.
7699.

-5879.
-10513.
-7791.
1691.
3839.
1962.
1699.
659.
-652.

-9790,
-15971,
-28158,
16920,
1152 2
31007
2 6 90 3
10756
1762
19661

-16262.
-32351.
-91979.
13 150.
10890.
28571.
29936.
8067.
-2296.
16138.

3997.
3387.
2963.
2989.
2172.
2009.
1915.
1908.
2031.
2298.

8600.
18993.
30200.
29083.
17559.
18325.
29987.
29990.
33967.
13697.

-9953.
9195.
12 660.
23897.
19 238.
8879.
-3676.
11 690.
-11815.
-9230.

2837.
5609.
5995.
3509.
2028.
2276.
3729.
2913.
853.
-156.

2599
31026
9 5 82 3
55918
33969
29 208
27726
37988
23 6 8 2
6 7 15

1989.
33293.
98355.
56939.
33829.
29980.
29535.
38993.
22509.
9311.

. 93172.
. 83397.
.| 9 6 9 9 9 .
.| 8 7 1 0 9 .
. 91678.
. 93513.
. 96 580.
. 127932.
. 129223.
. 119660.

19992.
19166.
20223.
20528.
20929.
20267.
22298.
23787.
27261.
25738.

73730.
69231.
76271.
66581.
71259.
73296.
79331.
109196.
96963.
88922.

3819.
9130.
9299.
9372.
9920.
9808.
5077.
5183.
5616.
5602.

69916.
60101.
71977.
62210.
66835.
68938.
69259.
98963.
91396.
83320.

9566.
9609.
9652.
9609.
9976.
9511.
9807.
10 912.
10517.
10 376.

33179.
32806.
33 611.
32939.
32 308.
32150.
32889.
36351.
37290.
36765.

27176. 1
17 691. 1
28719.
20167.
25051.
26776.
26558.
52200.
93589.
36179.

9755.
5099.
5259.
5612.
5768.
5993.
6007.
5805.
5972.
5510.

22922.
12692.
23955.
19555.
19283.
20833.
20551.
96395.
38117.
30669.

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

.I
.I
.1
.
.
.
.
.
.
.

99 963.
62299.
73177.
79529.
80599.
90 595.
89518.
85086.
90210.
90586.

23689.
18375.
20095.
21619.
23965.
23760.
23601.
29336.
26901.
26176.

70779.
93868.
53082.
57909.
56629.
66786.
60918.
60799.
63308.
69910.

5699.
5613.
5229.
5151.
5176.
9999.
9565.
9721.
9855.
9979.

65080.
38256.
97853.
52753.
51953.
62292.
56353.
56028.
58959.
59931.

10589.
7799.
7969.
8685.
8697.
8561.
8902.
8883.
8921.
8990.

35657.
25679.
26670.
28992.
28863.
29062.
28591.
28381.
28899.
28969.

18890.
9838.
13 219.
15126.
13992.
29669.
18910.
18765.
20 63 9. 1
21 97 7. 1

5929.
6879.
7299.
6831.
6523.
6057.
5855.
5789.
5817.
5750.

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

.
.
.
.
.
.
.
.
.
.

79698.
65199.
53339.
59 352.
61086.
82901.
77579.
92363.
78910.
82197.

23992.
20978.
18669.
19590.
20289.
21880.
29569.
26981.
25106.
27765.

50657.
99721.1
39665.
39812.1
90797.I
60521.
53011.
65881.
53309.
59933.

5926.
5993.
5339.
9790.
9917.
9930.
9767.
5129.
5983.
5266.

95230.
39 228.
29326.
35 022.
36379.
56091.
98299.
60757.
97821.
99166.

8399.
7209.
5953.
5699.
5813.
6978.
7159.
7862.
7917.
8092.

27888.
25 275.
22832.
22999.
22799.
25725.
25909.
28597.
28955.
29113.

89 99 . 1
67 99 . 1
591. 1
6879.
7817.
23887.
15176.
29298.
11 999.
12011.

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

86917.
10 2288.
13 0969.
190673.
136702.
13 8963
198221
19 6853
1567 52
132325

31117.
31960.
36881.
90099.
90939.
93369.
99991.
98730.
51186.
98321.

5311.
5376.
7859.
7237.
7032.
6035.
9833.
5813.
7319.
9020.

99 990.
69952.
85735.
93392.
88736.
89069.
98 897.
92 309.
98298.
79 989.

8267.
9390.
11033.
12599.
12893.
12 992.
13 193.
13 079.
13 286.
12 517.

29 675.
33781.
91539.
99271.
56111.
55793.
59352.
52882.
99969.
96521.

12097.
21831.
33163.
31572.
19 731.
20329.
31902.
26398.
35997.
15 995.




TOTAL RETURN
FROM—

ASSETS

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

55300.
70328.
93588.
100629.
95768.
95099.
103730.
98123.
105566.
89009.

REAL CAPITAL GAINS
(PCE BASIS) ON—

I
I
I
I
|
1

______

1
1
1
1
I

0

0

.

.

EQUITY

TABLE 112
FARM CASH FLOW AND RETURNS TO FACTORS (LABOR, MANAGEMENT, AND CAPITAL)
1986 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOTLARS
LESS:
YEAR

GROSS
INCOME

NONFACTOR
OPERATING
EXPENSES

EQUALS:

LESS:

EQUALS:

CASH CAPITAL
INCOME
FLOW CONSUMPFROM
FROM
TION
FACTORS
FACTORS

LESS:
HIRED
LABOR

OPERATORS*
LABOR AND
MANAGEMENT
(IMPUTED)

EQUALS:

LESS:

(EXCLUDING FARM HOUSEHOLDS)

EQUALS:

INCOME 1INTEREST INCOME
FROM
ON
FROM
ASSETS
DEBT
EQUITY

REAL CAPITAL GAINS
(PCE BASIS) ON— |

TOTAL RETURN
FROM—

ASSETS

DEBT

ASSETS

EQUITY

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 ...
l nr’7 . . .
1 9 5 8 ...
1 9 5 9 ...

139145.
151800.
145891.
129731.
128367.
123731.
123139.
122467.
134969.
127695.

51407.
56763.
56171.
50551.
51881.
52191.
52559.
53652.
58546.
60823.

87738.
95037.
89719.
79180.
76487.
71540.
70580.
68815.
76424.
66872.

10030.
11141.
11706.
11928.
12279.
12461.
12403.
12636.
12757.
13209.

77708.
83896.
78014.
67252.
64207.
59078.
58178.
56179.
63667.
53663.

12253.
11999.
11488.
10774.
10188.
10123.
10020.
10072.
10271.
10271.

42775.
43081.
42519.
39281.
37892.
37650.
36611.
33777.
32187.
33041.

22681.
28816.
24007.
17197.
16127.
11 3 0 5 .1
11546.
12330.
21209.
10351.

2437.
2674.
2907.
2871.
2900.
3062.
3248.
3400.
3675.
4059.

20245.
26141.
21100.
14326.
13227.
8243.
8298.
8930,
17533.
6292.

40024.
26428.
-3 5 0 1 7 .
-2 9 0 1 2 .
9061.
6952.
19354.
15670.
33117.
4279.

2325.
1540.
1232.
452.
260,
723.
1804.
1509.
884.
1468.

62705.
55244.
-11010.
-11815.
25188.
18257.
30900,
28000.
54326,
14630,

62594.
54109.
-12685,
-14234.
22548.
15918.
29457.
26109.
51534.
12040.

1 9 6 0 ...
1 9 6 1 ...
1 9 6 2 ...
1 9 6 3 ...
1 9 6 4 ...
1 9 6 5 ...
1966 . . .
1 9 6 7 ...
1968. . .
1 9 6 9 ...

127553.
132400.
135928.
137017.
130863.
142121.
149667.
145766.
143032.
149229.

59026.
60605.
63541.
64928.
62885.
65383.
69917.
71566.
69732.
71258.

68527.
71795.
7238 7 .
72089.
67978.
76739.
79750.
74200.
73300.
77971.

13097.
13039.
13189.
13422.
13707.
13986.
14395.
15086.
15541.
15751.

55430.
58756.
59199.
58667.
54271.
62752.
65355.
59114.
57760.
62220.

10629.
10947.
11113.
11287.
11365.
11561.
11457.
11308.
11388.
11562.

30902.
29750.
30073.
28415.
27206.
27954.
27801.
27711.
27858.
28236.

13900.
18059.
18012.
18965.
15701.
23237.
26097.
20095.
18514.
22421.

4401.
4619.
4979.
5491.
5883.
6371.
6889.
7472.
7680.
8083.

9498.
13440.
13033.
13474.
9818.
16866.
19208.
12623.
10834.
14338.

-71 51 .
12533.
8992.
9548.
16677.
27094.
14755.
3842.
-55 03 .
-49 74 .

1242.
1037.
1440.
1536.
1373,
2452.
3350.
3606.
5475.
5500.

6749.
30592,
27004.
28512.
32379.
50331.
40853.
23937.
13011.
17447.

3589.
27009.
23465.
24558.
27868.
46412.
37314.
20071.
10806.
14865.

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 ...

148457.
149737.
165451.
218709.
194988.
184078.
176910.
174117.
192264.
206801.

72313.
73904.
77392.
92813.
91216.
86678.
90898.
89882.
99914.
108935.

76144.
75832.
88059.
125896.
103772.
97400.
86011.
84234.
92351.
97866.

15679.
16102.
16436.
17360.
18605.
20456.
21516.
22542.
22885.
23799.

60465.
59730.
71623.
108536.
85167.
76944.
64496.
61692.
69466.
74066.

11479.
11044.
11073.
11867.
12662.
12705.
13699.
13617.
13205.
13115.

27403.
26212.
27494.
29426.
31433.
30792.
29580.
29457.
29435.
30051.

21584.
22474.
33057.
67243.
41072.
33447.
21218.
18618.
26826.
30900.

8529.
8589.
8967.
10207.
11316.
11719.
12794.
13947.
15612.
18304.

13054.
13885.
24089.
57037.
29756.
21728.
8424.
4671.
11215.
12596.

-54 57 .
20915.
63869.
94885.
59.
63133.
95841.
36673.
102276.
61829.

5593.
5510.
4980.
11446.
13475.
9771.
8242.
10746.
13902.
18472.

16127.
43389,
96925.
162129,
41131.
96580.
117058,
55291.
129102.
92729.

13190.
40309.
92938.
163368.
43290.
94632.
112507.
52090.
127392.
92897.

1 9 8 0 ...
•1981. . .
1982. . .
1 9 8 3 ...
1 9 8 4 ...
1 9 8 5 ...
1 9 8 6 ...

182481.
185752.
172022.
154118.
171525.
159339.
149140.

103744.
96051.
87942.
85560.
83056.
78637.
71200.

78737.
89701.
84080.
68558.
88469.
80702.
77940.

23535.
23675.
22751.
21593.
20318.
18035.
16570.

55202.
66026.
61329.
46966.
68150.
62667.
61370.

12255.
10781.
11628.
10596.
10394.
10560.
10255.

28028.
28621.
25842.
23713.
28286.
23682.
21000.

14920.
26623.
23859.
12657.
29470.
28425.
30115.

20621.
23079.
23961.
22557.
21419.
18299.
15050.

-57 01 .
3544.
-10 2.
-9900.
8051.
10126.
15065.

-5614.
-88953.
-8 2 6 7 5 .
-5 1 1 3 3 .
-134740.
-107520.
-6 5 6 1 4 .

19807.
14235,
9316.
8118.
6932.
6258.
3792.




j

8493.
9306.
-62330,
-7 1 1 7 4 .
-58 81 5
-7 3 4 6 1 .
-38476,
-52916.
-10 5 2 7 0 ,. -1 1 9 7 5 7 ,
-79095.
-91135.
-35 49 9,.
-46757.

7

8
TABLE 342
REAL CAPITAL GAINS, PCE BASIS (EXCLUDING FARM HOUSEHOLDS)
1986 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS
PHYSICAL ASSETS
YEAR

TOTAL

TOTAL
ASSETS
TOTAL

REAL
ESTATE

MACHINERY
AND
MOTOR
VEHICLES

LIVE­
STOCK

FINANCIAL ASSETS
STORED
CROPS

HOUSEHOLD
EQUIPMENT
AND
FURNISHINGS

INVEST­
U .S .
MENTS
SAVINGS
IN
BONDS COOPERA­
TIVES

DEBT

TOTAL

CURRENCY
AND BANK
DEPOSITS

0.
-204.
-394.
-253.
-191.
-564.
-1794.
-2 4 0 8 .
-2192.
-2 2 7 9 .

0.
-17 6.
-336.
-213.
-1 6 0 .
-4 6 9 .
-1 5 1 6 .
-2 0 5 6 .
-1886.
-1 9 9 7 .

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

0.
-29.
-58.
-39.
-31 .
-9 5 .
-278.
-3 5 2 .
-306.
-28 2.

0.
1037.
2135.
1497.
1160.
3412.
9653.
12698.
11894.
10627.

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 ...

13466.
9416.
-2570.
12115.
-60 30 .
6853.
-2261.
-16862.
-19546.
12105.

13466.
8379.
-4 7 0 5 .
10617.
-7 1 9 0 .
3441.
-11914.
-29 56 0.
-31 44 0.
1478.

13466.
8583.
-4311.
10870.
-7 0 0 0 .
4005.
-10 1 2 0 .
-27 15 3.
-29247.
3757.

13182.
7480.
351.
3705.
-5555.
9396.
-17710.
-24872.
-2 1 8 6 4 .
17314.

-134.
-35 1.
-55 2.
-304.
30.
25.
-482.
861.
-4 1 0 .
-16 87 .

2546.
-2459.
3921.
4758.
2885.
-18 79 .
-15 09 .
1800.
-61 28 .
-12163.

-2128.
3914.
-8031.
2711.
-43 60 .
-35 37 .
9581.
-49 41 .
-846.
293.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

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

-5 7 9 0 9 .
-25964.
4634.
-15593.
-44 68 .
-10131.
-71 00 .
9043.
7589.
3294.

-59 2 0 2 .
-16 74 8.
7251.
-16 74 9.
-5 8 4 4 .
-11 60 9.
-6618.
10496.
8086.
4570.

-58 95 0.
-18 33 0.
6785.
-16543.
-5597.
-11326.
-6 7 1 1 .
10209.
7988.
4318.

-3 0 5 4 5 .
-1 2 0 0 8 .
-1 9 .
-15 55 9.
-94 73 .
-68 76 .
-5 5 5 7 .
3773.
4430.
4333.

-14 35 .
187.
1158.
924.
238.
-404.
-1 7 2 .
-2 8 4 .
-83.
-94 .

-13114.
-39 68 .
2141.
-30 21 .
-15 48 .
1763.
1658.
4045.
4016.
-264.

-13856.
-2541.
3504.
1112.
5185.
-5 8 0 9 .
-2640.
2675.
-374.
342.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-252.
1581.
466.
-2 0 6 .
-24 6.
-28 3.
93.
288.
98.
253.

-22 2.
1376.
400.
-1 7 4 .
-20 4.
-231.
76.
229.
77.
196.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-3 1 .
205.
66.
-3 2 .
-4 2 .
-52 .
18.
58.
21.
57.

1293.
-9216.
-2 6 1 7 .
1157.
1376.
1479.
-483.
-1453.
-4 9 7 .
-1 2 7 6 .

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 ...

-19663.
-33 2 3 3 .
-36491.
11682.
7538.
8581.
13371.
-1 2 8 8 3 .
-10338.
7649.

-13784.
-22 72 0.
-28 70 0.
10041.
3704.
7119.
11727.
-13 5 4 2 .
-9687.
7649.

-14949.
-24747.
-30 08 9.
!
10346.
4593.
7530.
12231.
-13331.
-98 99 .
7649.

-7 1 3 7 .
-12 46 1.
-25328.
7212.
-58 69 .
5608.
1447.
-24 82 .
-49 21 .
-30 34 .

1007.
2049.
1034.
-319.
29.
128.
-3 4 .
322.
483.
-302.

-73 08 .
-53 81 .
-2016.
-9 7 1 .
-5 1 3 .
11309.
-2 3 7 5 .
335.
1685.
1322.

-15 10 .
-8954.
-3778.
4424.
10945.
-9 5 1 6 .
13192.
-11 50 6.
-7146.
9663.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

XXXXXX
XXXXXX

I

1166.
2027.
1389.
-3 0 5 .
-8 8 9 .
-41 0.
-5 0 3 .
-21 1.
213.
0.

887.
1480.
954.
-20 5.
-6 2 1 .
-30 1.
-3 7 4 .
-154.
154.
0.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

279.
546.
435.
-10 1.
-268.
-10 9.
-129.
-5 7 .
59.
0.

-58 79 .
-10 51 3.
-7791.
1641.
3834.
1462.
1644.
659.
-65 2.
0.

1940. . .
1941. . .
1942. . .
1943. . .
1 9 4 4 .. .
1 9 4 5 .. .
1946. . .
1947. . .
1948. . .
1 9 4 9 ...

-66 16 .
14800.
18156.
27351.
16265.
11155.
48.
14052.
-10 96 3.
-93 86 .

-9453.
9195.
12660.
23847.
14238.
8879.
-3 6 7 6 .
11640.
-11815.
-9230.

-8 4 4 3 .
11296.
15186.
26168.
16031.
11484.
1486.
14980.
-10724.
-9405.

-40 99 .
752.
2179.
19116.
15919.
17502.
-9 6 6 .
-22 64 .
1914.
1045.

-5 8 0 .
-446.
4212.
4383.
3487.
-9 3 1 5 .
-5354.
778.
3680.
1505.

-7 2 6 .
6760.
8453.
-66 25 .
-2 8 8 6 .
2096.
7625.
4808.
4025.
-74 30 .

-3038.
4229.
342.
9293.
-489.
1200.
180.
11658.
-2 0 3 4 3 .
-4525.

XXXXXX
XXXXXX

1
I

-1010.
-2100.
-25 25 .
-2321.
-17 93 .
-26 04 .
-5162.
-33 40 .
-1 0 9 2 .
174.

-72 6.
-1526.
-19 22 .
-1870.
-1 4 8 1 .
-2191.
-4397.
-2836.
-91 1.
142.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-2 8 4 .
-574.
-603.
-4 5 1 .
-312.
-413.
-7 6 5 .
-5 0 4 .
-180.
32.

2837.
5604.
5495.
3504.
2028.
2276.
3724.
2413.
853.
-156.

I
1
I
1
1
1
1
I
]_________




I
I
I
I
|
|
I
1

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

!

I

TABLE 342
REAL CAPITAL GAINS, PCE BASIS (EXCLUDING FARM HOUSEHOLDS)
1986 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS

YEAR

1950. .
1 9 5 1 ..
1 9 5 2 ..
1953. .
1954. .
1 9 5 5 ..
1 9 5 6 ..
1 9 5 7 ..
1958. .
1 9 5 9 ..
1 9 6 0 ..
1 9 6 1 ..
1 9 6 2 ..
1 9 6 3 ..
1964. .
1 9 6 5 ..
1966. .
1967. .
1968. .
1 9 6 9 ..
1970 . .
1971. .
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 ..
1 9 8 0 ..
1 9 8 1 ..
1 9 3 2 ..
1 9 8 3 ..
1 9 8 4 ..
1 9 8 5 ..
19 86 . .

1
1
1
I
1
1

FINANCIAL ASSETS

PHYSICAL ASSETS
TOTAL
ASSETS

I 42349.
I 27968.
j -33784.
I -2 8 5 6 0 .
I
9321.
f
7676.
]
21158.
I
17179.
I 34001.
I
5748.
j
I -59 0 9 .
I
13569.
I 10432.
1 11084.
I
18050.
I 29546.
I 18106.
I
7447.
|
-28 .
!
526.
j
I
1 3 6.
I 26424.
| 68849.
I 106331.
I
13534.
I 72904.
| 104083.
| 47419.
I 116178.
| 80301.
j
I 14193.
| -7 4 7 1 9 .
| -73359.
! -43016,
1-127808.
1-101262.
j -61 82 2.

MACHINERY
AND
MOTOR
VEHICLES

LIVE­
STOCK

STORED
CROPS

DEBT

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

-2411.
-14 2 6 .
-10 3 5 .
-3 6 2 .
-21 4.
-56 2.
-1250.
-96 4.
-527.
- 8 36,

-1907.
-1104.
-79 1.
-26 9.
-15 6.
-40 2.
-86 5.
-6 3 6 .
-339.
-53 2.

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

-504.
-3 2 2 .
-244.
-9 2 .
-5 7 .
-160.
-3 8 5 .
-3 2 8 .
-1 8 9 .
-30 4.

2325,
15 4 0 .
1232.
452.
260.
723.
18 04 .
15 09 .
884.
1468.

-2 1 0 1 .
-77 9.
-6 5 .
1386.
2661.
-20 17 .
2635.
-5239.
-50 9 8 .
154.

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

-61 2.
-48 2.
-6 5 5 .
-65 1.
-53 9.
-91 0.
-1170.
-11 8 2 .
-1731.
-1759.

-36 5.
-27 2.
-36 6.
-36 1.
-2 8 9 ,
-48 3.
-62 0.
-61 4.
-88 6.
” 900.

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

-2 4 7 .
-20 9.
-2 9 0 .
-289.
-2 5 0 .
-4 2 7 .
-5 5 0 .
-5 6 8 .
-84 5.
-859,

1242.
1037.
1440.
1536.
1373.
2452.
3350.
3606.
5475.
5500.

-39 78 .
5026.
12660.
7517.
-4 4 8 7 3 .
7949.
-39 76 .
3725
27250.
6223.

2005.
-1716.
5613.
12749.
3494.
-15066.
-22 8.
-71 5 2 .
-31 6 0 .
-30 .

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

-1775.
-1756.
-1565.
-3665.
-4 3 0 0 .
-2812.
-2333.
-28 3 4 .
-32 7 9 .
-43 8 8 .

-90 4.
-8 4 8 .
-73 6.
-1754.
-2129.
-1336.
-1034.
-11 6 1 .
-1341.
-1705.

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

-871.
-9 0 8 .
-82 8.
-19 11 .
-21 71 .
-14 76 .
-12 99 .
-16 73 .
-1938.
-2 6 8 3 .

5593.
5510.
4980.
11446.
13475.
9771.
8242.
10746,
13902.
18472.

-10719.
-13576.
-27 90 .
-53 91 .
14 .
-96 4.
-99 5.

9008.
-13452.
-4298.
-5456,
-6551.
-6989.
-10277,

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

-4358.
-29 81 .
-1932.
-1754.
-1456.
-1360.
-86 1 ,

-1610.
-1021.
-65 5.
-58 2
-4 1 5 .
-382.
-26 1.

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

-2748.
-1961.
-1277.
-11 71 .
-10 4 2 .
-97 8.
-60 0.

19807.
14235.
9316.
8118.
6932.
6258.
3792.

40024.
26428.
-35017.
-29012.
9061 .
6952.
19354.
15670.
33117 .
4279.

42435.
27854.
-3 3 9 8 2 .
-2 8 6 5 0 .
9275.
7514.
20604.
16634.
33645.
5115.

25369.
18933.
-41 57 .
-83 49 .
10543.
13264.
15626.
10355.
24551.
10225.

-1545.
1976.
-96 4.
-9 8 9 .
-23 5.
642.
1668.
-1 1 4 .
2342.
1710.

11952.
3296.
-23 00 2.
-12099.
-3342.
-2901.
1394.
10131.
10832.
-11273.

6659.
3648.
-58 58 .
-72 14 .
2309.
-3491 .
1916.
-3738.
-4 0 8 0 .
4453.

-71 51 .
12533.
8992.
9548.
16677.
27094.
14755.
3842.
-55 03 .
-49 74 .

-6539.
13014.
9648.
10198,
17216.
28004.
15925.
5024.
-37 72 .
-32 15 ,

-33 46 .
12345.
8774.
16354.
19015.
20965.
11154.
11635.
474.
-7 8 0 6 .

-1134.
642.
938 .
-51 3.
608.
-17 0.
199.
1042.
-11 5.
-1212.

43.
806.
1.
-70 30 .
-50 68 .
9226.
1938.
-24 14 .
967.
5648.

-54 5 7 .
20915.
63869.
94885.
59.
63133.
95841.
36673.
I 102276.
I 61829.
j
| -5614.
| -88953.
| -8 2 6 7 5 .
| -51133.
1-134740.
I-1 0 7 5 2 0 .
J -65 61 4.
L _ __ __

-36 82 .
22671.
65434.
98550.
4360.
65945.
98174.
39506 .
105555.
66217.

-1826.
17422.
45666.
77801.
34821.
63284.
98561,
40305,
78765.
56449.

118.
1939.
1494.
482.
10915.
9778 .
3818.
2629.
2700.
3574.

-12 56 .
-85972.
-8 0 7 4 3 .
-49379.
-13 3 2 8 3 .
-106160.
-64754.

3244.
-61980.
-76013.
-3 7 8 6 8 .
-12 3 3 4 0 .
-98975.
-51484.

-27 89 .
3036 .
2358.
-6 6 4 .
-3405.
768.
-1997 .

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




INVEST­
U .S .
MENTS
IN
SAVINGS
BONDS COOPERA­
TIVES

TOTAL

TOTAL

|
1
|

HOUSEHOLD
EQUIPMENT
AND
FURNISHINGS

CURRENCY
AND BANK
DEPOSITS

REAL
ESTATE

TOTAL

DEFLATED BY AN INDEX OF GENERAL PRICE

9

BALANCE SHEET OF THE FARMING SECTOR, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
1986 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS
ASSETS

CLAIMS
LIAB ILITIES

NON-REAL-ESTATE
TOTAL

REAL
ESTATE

TOTAL
TOTAL

PHYSICAL

e tc

DEBT PLUS
CCC "LOANS"

"LOAMS"

DEBT

504714.
511209.
514787.
523634.
522955.
533731.
521618.
503628.
474876.
476145.

68789.
72961.
78231.
81978.
83796.
85844.
86231.
85787.
79908.
85587.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

68789.
72961.
78231.
81978.
83796.
85844.
86231.
85787.
79908.
85587.

422745.
399274.
403866.
385889.
375491.
366599.
360408.
369990.
379583.
383417.

98395.
102936.
103527.
99907.
90934.
88542.
87431.
89297.
90372.
88721.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

98395.
102936.
103527.
99907.
90934.
88542.
87431.
89297.
90372.
88721.

FINANCIAL

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

504714.
511209.
514787.
523634.
522955.
533731.
521618.
503628.
474876.
476145.

382109.
389463.
389802.
393507.
388046.
397386.
379905.
355670.
334267.
352432.

122606.
121746.
124985.
130127.
134909.
136345.
141713.
147958.
140609.
123712.

109053.
108273.
111785.
116645.
121055.
120394.
125361.
132144.
123472.
107013.

13553.
13473.
13200.
13482.
13853.
15952.
16351.
15814.
17137.
16699.

19 20 ,
19 21.
1922.
1923.
19 24.
19 25.
19 26.
1927.
1928
1929

422745.
399274.
403866.
385889.
375491.
366599.
360408.
369990.
379583.
383417.

322019.
309402.
308927.
293042.
283173.
275933.
269963.
273598.
277744.
281720.

100726.
89872.
94939.
92847.
92318.
90666.
90445.
96392.
101839.
101697.

83842.
71543.
76495.
74956.
74892.
73510.
73127.
78718.
83928.
84109.

16884.
18329.
18444.
17891.
17426.
17156.
17317.
17674.
17911.
17589.

1930
1931
1932
1933
1934
1935
1936
1937
1938
1939

364908.
340449.
307944.
315004.
314310.
329632.
334945.
331502.
328461.
335834.

273700.
260128.
233594.
239828.
233035.
238095.
239120.
236509.
231385.
228489.

91208.
80321.
74349.
75176.
81275.
91537.
95825.
94993.
97075.
107345.

74009.
63770.
57315.
56579.
60838.
69534.
74082.
73300.
74521.
83435.

17199.
16551.
17034.
18597.
20437.
22003.
21743.
21693.
22554.
23909.

364908.
340449.
307944.
315004.
314310.
329632.
334945.
331502.
328461.
335834.

89211.
92815.
91555.
80244.
74975.
74172.
69517.
68970.
72179.
70746.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
2118.
2325.
1663.
2515.
5111.
3610.

89211.
92815.
91555.
80244.
72857.
71847.
67854.
66455.
67068.
67136.

1940
1941
1942
1943
1944
1945
1946

334224.
353868.
383986.
410376.
432515.
445765.
448490.
460489.
474205.
473895.

224554.
225484.
227908.
247422.
264037.
28*2194.
283595.
283715.
288010.
291263.

109670.
128384,
15 60 78
1 6 29 53
1684 78
163571
1 6 48 95
1 7 67 74
1 8 61 95
182631

84821.
100315.
121968.
124269.
124251.
113215.
115381.
129835.
141378.
138920.

24849.
28070.
34109.
38684.
44227.
50356.
49514.
46940.
44817.
43712.

334224.
353868.
383986.
410376.
432515.
445765.
448490.
460489.
474205.
473895.

71191.
65423.
56508.
47299.
42575.
37832.
36082.
37043.
45193.
49813.

4888.
4339.
5004.
3553.
3930.
1500.
316.
381.
5099.
7647.

66304.
61084.
51504.
43746.
38646.
36332.
35766.
36662.
40094.
42165.




1
!
1
1
1

TABLE 412
BALANCE SHEET OF THE FARMING SECTOR, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
1986 DOLLARS, PCE DEFLATOR
AMOUNTS IN MILLIONS OF DOLLARS

YEAR

ASSETS

1
1
1
I
1
1

CLAIMS
LIAB ILITIES

NON-REAL-ESTATE
TOTAL

REAL
ESTATE

TOTAL
TOTAL

PHYSICAL

FINANCIAL

DEBT PLUS
CCC "LOANS"

CCC
"LOANS"

PROPRIETORS*
EQUITIES
DEBT

517494.
554883.
532627.
514732.
526359.
532030.
545992.
561519.
610287.
606815.

318572.
339229.
336888.
330093.
341804.
356077.
372837.
384170.
409578.
421491.

198922.
215654.
195739.
184639.
184555.
175953.
173155.
177348.
200709.
185323.

156668.
172996.
153638.
143001.
142908.
135688.
135316.
140022.
161827.
148492.

42254.
42658.
42102.
41638.
41647.
40265.
37839.
37326.
38882.
36832.

517494.
554883.
532627.
514732.
526359.
532030.
545992.
561519.
610287.
. 606815.

49030.
53181.
57266.
60059.
62269.
65323.
65068.
66956.
77154.
78845.

3409.
2385.
4687.
9379.
8664.
7202.
5833.
4419.
8867.
4087.

45621.
50796.
52580.
50680.
53606.
58121.
59235.
62537.
68287.
74758.

468464.
501701.
475361.
454673.
464089.
466707.
480924.
494563.
533133.
527969.

603014.
622477.
637594.
651847.
667404.
702489.
720832.
735076.
741098.
739447.

420056.
434025.
444711.
462926.
483631.
506286,
519269.
533074.
535051.
528552.

182958.
188452.
192883.
188921.
183773.
196203.
201563.
202002.
206047.
210896.

147035.
151149.
155202.
150925.
145133.
156641.
162146.
162340.
166162.
170930.

35923.
37303.
37681.
37997.
38640.
39562,
39417.
39662.
39885.
39966.

603014.
622477.
637594.
651847.
667404.
702489.
720832.
735076.
741098.
739447.

82096.
88317.
95851.
103122.
109133.
117768.
123800.
129691.
132335.
133196.

4796.
6352.
6872.
6329.
4999.
4464.
3552.
4229.
7607.
7285.

77301.
81965.
88979.
96792.
104134.
113305.
120248.
125462.
124729.
125911.

520918.
534160.
541743.
548725.
558271.
584720.
597033.
605385.
608763,
606251.

|

731468.
756997.
822247.
928681.
890659.
960408.
1052245.
1095972.
1209055.
1280712.

523530.
538507.
578927.
653062.
653336.
712248.
803616.
842743.
921351.
977121.

207938.
218490.
243320.
275619.
237322.
248160.
248630.
253229.
287704.
303592.

167640.
177023.
198521.
228356.
193832.
203274.
203813.
210022.
241702.
257769.

40298.
41468.
44799.
47263.
43490.
44886.
44817.
43207.
46002,
45823.

731468.
756997.
822247.
928681.
890659.
960408.
1052245.
1095972.
1209055.
1280712.

131325.
137605.
144203.
149746.
151777.
159278.
171809.
190726.
202353.
215301.

4880.
5628.
4293.
1649.
637.
701.
1843.
7536.
8691.
7035.

126445,
131977.
139911.
148097.
151140.
158577.
169966.
183190.
193662,
208266.

600143.
619392.
678044.
778935.
738881.
801130.
880437.
905246.
1006703.
1065411.

1 9 8 0 ..........
1 9 8 1 ..........
1 9 8 2 ..........
1 9 8 3 .......... !
1 9 8 4 ____ _
1 9 8 5 ____ _ i
1 9 8 6 ____ _ j

1265322.
1181611.
1099542.
1032078.
892512.
778943.
702973.

978336.
912456.
833567.
791190.
664314.
562760.
506791.

286987.
269155.
265976.
240888.
228199.
216184.
196182.

243536.
225296.
220532.
197614.
185316.
176230.
158434.

43451.
43859.
45444.
43275.
42883.
39953.
37749.

1265322.
1181611.
1099542.
1032078.
892512.
778943.
702973.

213718.
220837.
227615.
217598.
206675.
193078.
173259.

6251.
9369.
17254.
11609.
9288.
17025.
18505.

207467.
211468.
210362.
205989.
197387.
176053.
154753.

1051604.
960774.
871927.
814480.
685837.
585865.
529715.

1 9 5 0 .......... I
1 9 5 1 .......... 1
1 9 5 2 .......... I
1 9 5 3 .......... i
1 9 5 4 .......... i
1955 , . . . . 1
1 9 5 6 .......... I
1 9 5 7 .......... I
1 9 5 8 ____ _ I
1 9 5 9 .......... I
j
1 9 6 0 .......... I
1 9 6 1 .......... I
1 9 6 2 ____ _ !
1 9 6 3 .......... I
1 9 6 4 .......... 1
1 9 6 5 ---------I
1 9 6 6 .......... 1
1 9 6 7 .......... I
1 9 6 8 ..........
1 9 6 9 ..........
1 9 7 0 . ____
1 9 7 1 .....
1 9 7 2 ..........
1 9 7 3 ..........
1 9 7 4 ..........
1 9 7 5 ..........
1976 ..........
1977 ..........
1 9 7 8 ____ _
1 9 7 9 .....

1
1
I

!
]

THE PRICE DEFLATOR USED IS THE IMPLICIT PRICE DEFLATOR FOR PERSONAL CONSUMPTION EXPENDITURES ( 1 9 8 6
SERIES IN THIS FABLE THEREFORE SHOW VALUES IN DOLLARS OF CONSTANT CONSUMER PURCHASING POWER.




= 1 .0 0 ).

11

12
TABLE 111
FARM CASH FLOW AND 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

LESS :

EQUALS:
INCOME
FROM
FACTORS

EQUALS:

OPERATORS'
LABOR AND
MANAGEMENT
UMPUTEP,) .

LABOR

LESS:

(EXCLUDING FARM HOUSEHOLDS)

EQUALS:

INCOME INTEREST INCOME
FROM
ON
FROM
ASSETS
DEBT
EQUITY

TOTAL RETURN
REAL CAPITAL GAINS
FROM—
(PCE BASIS) ON—
1
1
1
ASSETS
DEBT
1 ASSETS
EQUITY

.

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 ...

7354.
6582.
7888.
7293.
7779.
8013.
8902.
13848.
15792.
16742.

1534.
1513.
1653.
1719.
1733.
1737.
2051.
2575.
3466.
3758.

5819.
5070.
6235.
5574.
6 0 4 6 .1
6 2 7 7 .1
6852.
11273.
12327.
12984.

301.
326.
351.
366.
375.
412.
468.
561.
714.
818.

55 18 .
4744.
5884.
5208.
56 71 ,
58 65 .
6384.
1071 2.
1161 3,
12166

755.
758.
789.
804.
804.
815.
904.
1127.
1337.
1515.

2618.
2589.
2748.
2716.
2741.
2755.
3032.
3935.
4734.
5368.

2145.
1396.
2347.
1688.
2125.
2295.
2448.
5650.
5541.
5283.

375.
399.
430.
470.
489.
509.
554.
628.
696.
805.

1770.
998.
1917.
1219.
1636.
1785.
1894.
5022.
4846.
4478.

1063.
661.
-385.
889.
-6 1 0 .
295.
-1 0 9 8 .
-3200.
-3997.
216.

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

3208.
2058.
1963.
2577.
1515.
2589.
1350.
2451.
1545.
5499.

2833.
1741.
1707.
2233.
1124.
2373.
1686.
3197.
2361.
6246.

1 9 2 0 ...
1 9 2 1 ...
1 9 2 2 ... 1
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 ...

15977.
9404.
10355.
11455.
11632.
13400.
12627.
12472.
13045.
13099.

4007.
2776.
2843.
3114.
3459.
3516.
3526.
3567.
3890.
3785.

11970. 1
6628. 1
7511.
83 41 .1
8173.
9883.
9101.
8905.
9155.
9314.

963.
848.
740.
742.
747.
665.
682.
692.
702.
720.

11007
5780
6771
7599
7426
92 18
8419
82 1 3
84 5 3
85 94

1790.
1170.
1127.
1251.
1248.
1267.
1330.
1302.
1290.
1300.

6031.
3879.
3774.
4169.
4166.
4301.
4264.
4160.
4178.
4188.

3186.
731.
1871.
2179.
2012.
3651.
2825.
2751.
2984.
3106.

1003.
1039.
1026.
984.
941.
896.
875.
849.
841.
831.

2184.
-308.
845.
1195.
1071.
2754.
1950.
1902.
2143.
2274.

-10013.
-25 30 .
1026.
-24 13 .
-843.
-1718.
-989.
1539.
1169.
661.

219.
-1392.
-3 7 0 .
167.
199.
219.
-7 2 .
-21 3.
-7 2 .
-185.

-68 26 .
-18 00 .
2897.
-2 3 4 .
1169.
1933.
1836.
4289.
4154.
3767.

-76 11 .
-4231.
1500.
-1051.
426.
1255.
890.
3227.
3241.
2751.

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

10524.
8273.
5994.
6431.
7136.
9858.
9406.
11608.
9696.
10098.

3382.
2598.
2098.
2117.
2370.
2618.
2979.
3328.
3105.
3411.

7142.
5674.
3896.
4314.
4766.
7240.
6427.
8280.
6592.
6687.

765.
697.
600.
519.
516.
530.
578.
644.
678.
647.

63 77
4977
3296
3795
42 50
67 10
5849
7636
5914
6040

1177.
914.
669.
617.
679.
775.

988.
979.
988.

3932.
3207.
2566.
2432.
2657.
3078.
3141.
3594.
3519.
3577.

1268.
856.
61.
745.
913.
2858.
1840.
3054.
1416.
1476.

789.
744.
677.
586.
527.
466.
438.
421.
421.
433.

479.
112.
-6 1 6 .
159.
386.
2391.
1402.
2633.
994.
1043.

-19 43 .
-28 83 .
-32 25 .
1088.
433.
852.
1422.
-1 7 0 2 .
-1 1 9 8 .
940.

-829.
-1 3 3 4 .
-8 7 6 .
178.
448.
175.
199.
83.
-8 1 .

.

-67 5.
-2026.
-3164.
1833.
1346.
3709.
3262.
1352.
218.
2415.

-2293.
-4 1 0 5 .
-4717.
1425.
1266.
3418.
3023.
1014.
-284.
1983.

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 ...

10756.
13679.
19287.
22722.
23347.
24596.
28554.
31248.
35276.
29663.

3873.
4274.
5452.
6468.
6991.
7703.
8571.
10369.
11519.
10832.

6883.
9405.
13835.
16254.
16356.
16893.
19983.
20879.
23757.
18831.

661.
719.
1161.
1169.
1201.
1072.
931.
1237.
1647.
2022.

62 22
8686
12674
15085
15155
15821
19052
19642
22110
16809

1029.
1249.
1631.
2027.
2202.
2299.
2532.
2783.
2990.
2806.

3694.
4518.
6141.
7958.
9583.
9911.
10471.
11252.
11132.
10429.

1499.
2919.
4902.
5100.
3370.
3611.
6049.
5607.
7988.
3574.

429.
453.
438.
402.
371.
356.
369.
406.
457.
504.

1070.
2466.
4464.
4698.
2999.
3255.
5680.
5201.
7531.
3070.

-11 77 .
1230.
1872.
3852.
2432.
1577.
-708.
2477.
-26 59 .
-20 69 .

353.
749.
812.
566.
346.
404.
717.
513.
192.
-3 5 .

323.
4149.
6774.
8951.
5802.
5188.
5341.
8083.
5330.
1505.

247.
4446.
7148.
9115.
5777.
5237.
5690.
8191.
5064.
966 .




868

.

0

0

TABLE 111
FARM CASH FLOH AND RETURNS FROM FACTORS (LABOR, MANAGEMENT, AND CAPITAL)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
LESS.
|EQUALS.I LESS*
1
1
1
NONFACTOR|
CASH CAPITAL
I GROSS
FLOW CONSUMP­
I INCOME OPERATINGI
YEAR
TION
EXPENSES I
FROM
1
1FACTORS
1
1
11799.
2301.
20129.
1 9 5 0 .. I 31923.
13818.
23135.
2712.
1 9 5 1 .. | 36953.
13969.
22312.
2911.
1 9 5 2 .. I 36281.
3029.
12837.
20107.
1 9 5 3 .. I 32999.
13220.
19990.
3129.
1 9 5 9 .. | 32710.
13982.
18980.
3219.
1 9 5 5 .. 1 31962.
13853.
18603.
3269.
1 9 5 6 .. 1 32956.
19569.
18680.
3930.
1 9 5 7 .. I 33299.
3530.
16200.
21197.
1 9 5 8 .. I 37397.
3736.
17203.
18919.
1 9 5 9 .. I 36117.
j
17005.
3773.
19792.
1 9 6 0 .. I 36797.
17672.
20935.
3802.
1961. . I 38607.
3915.
18862.
21988.
I 90350.
1 9 6 2 ..
9093.
19558.
21715.
1 9 6 3 .. I 91273.
20839.
9201.
19273.
1 9 6 9 .. I 90107.
9360.
20382.
23922.
1 9 6 5 .. I 99309.
9626.
22969.
25629.
1 9 6 6 .. I 98098.
23563.
29930.
9967.
1 9 6 7 .. I 97993.
5398.
23997.
25225.
19 68 . . I 9 9 2 2 2 .
5655.
25583.
27993.
1 9 6 9 .. I 53576.
j
27165.
28609.
5890.
19 70 . . I 5 5 7 6 9 .
6331.
29057.
29815.
1971. . I 58872.
36010.
6721.
31698.
1 9 7 2 .. 1 67658.
7590.
59680.
90311.
1 9 7 3 .. I 99991.
99796.
8928.
93771.
1 9 7 9 .. I 93567.
99933.
5 0 9 9 1 .I 10609.
1 9 7 5 .. 1 95929.
99827.
9 7 1 9 8 .1 I 1 1 7 9 9 .
1976 . . I 9 6 9 7 5 .
52997.
9 9 1 9 8 .| 13166.
1 9 7 7 .. I 101695.
5 7 9 0 1 . I 19398.
62693.
1978. . 1 120599.
67015. I 16297.
79595.
1979. . I 191610.
j
j
597 0 8 . I 1 7 8 9 7 .
78671.
1 9 8 0 . . , I 13 8379
I
79566.
79306. ! 19612.
1 9 8 1 .. I 153872.
73625. I 19922.
77007 .
1 9 8 2 ,. I 150632.
77993.
62995. I 19683.
1 9 8 3 .. I 190988.
83793. I 19233.
78620.
1 9 8 9 .. I 162363.
79077. I 17672.
77053.
1 9 8 5 .. I 156130.
77990. I 16570.
71200.
1 9 8 6 .. I 199190.
1
_____
J ___________




1EQUALS)
1
1 INCOME
I
FROM
I FACTORS
1

.ESS*
1
HIRED
LABOR

OPERATORS'
LABOR AND
MANAGEMENT
(IMPUTED)

EQUALS*

(EXCLUDING FARM HOUSEHOLDS)

LESS:

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

TOTAL RETURN
FROM—
ASSETS

EQUITY

17828.
20923.
19901.
17078.
16361.
15261.
15339.
15250.
17617.
15178.

2811
2921
2857
2736
2596
2615
2691
27 39
28 92 ,
29 0 5 .

9813.
10987.
10579.
9975.
9656.
9726.
9650.
9169.
8906.
9395.

5209.
7015.
5970.
9367.
9109.
2920.
3093.
3397.
5869.
2928.

559.
651.
723.
729.
739.
791.
856.
923.
1017.
1198.

9695.
6369.
5297.
3638.
3370.
2129.
2187.
2929.
9852.
1780.

9182.
6933.
-8708.
-73 67 .
2309.
1796.
5101.
9259.
9169.
1210.

533.
375.
306.
115.
66.
187.
976.
910.
299.
915.

19386.
13998.
-2738.
-3 0 0 0 .
6918.
9716 .
8199.
7601.
15032.
9138.

19360.
13172.
-31 55 .
-3615.
5796.
9112.
7769.
7087.
19260.
3905.

15969.
17133.
17573.
17672.
16633.
19562.
21003.
19963.
19877.
22338.

30 62 .
31 92 .
3299 .
3900 ,
3983 ,
3609 .
3682,
37 23
3919 ,
9151 ,

8903.
8675.
8927.
8559.
8338.
8719.
8939.
9129.
9587.
10137.

9009.
5266.
5397.
5713.
9812.
7299.
8387.
6416.
6371.
8050.

1268.
1397.
1978.
1659.
1803.
1986.
2219.
2960.
2693.
2902.

2736.
3919.
3869.
9059.
3009.
5258.
6173.
9156.
3728.
5198.

-20 6 0 .
3659.
2669.
2876.
5111.
8996.
9792.
1265.
-1899.
-17 8 6 .

358.
302.
927.
963.
921.
769.
1077.
1187.
1889.
1975.

1999.
8920.
8016.
8589.
9923.
15690.
13129.
7881.
9977.
6269.

1039.
7876.
6966.
7397.
8591.
19968.
11991.
6608.
3719.
5337.

22719.
23989.
29289.
97190.
90868.
39887.
35359.
36032.
93553.
50718.

9312
9392
9528 .
51 59 .
6076,
65 86
75 09 ,
7 9 53
82 7 9 ,
8981

10299.
10306.
11293.
12781.
15083.
15962.
16219.
17205.
18955.
20578.

8108.
8836.
13518.
29206.
19709.
17339.
11631.
10879.
16819.
21159.

3209.
3377.
3667.
9933.
5930.
6075.
7013.
8196.
9788.
12539.

9909.
5959.
9851.
29773.
19279.
11269.
9618.
2728.
7031.
8625.

-20 5 0 .
8223.
26118.
91211.
28.
32728.
52536.
21919.
69129.
92338.

2101.
2166.
2037.
9971.
6966.
5065.
9518.
6276.
8716.
12699.

1
I
|
|
1
|
|
|
|
I

6058.
17059.
39636.
70917.
19737.
50066.
69167.
32293.
80993.
63998.

9955.
15898.
38005.
70955.
20773.
99056.
61672.
30929.
79871.
63612.

21259.
23709.
22629.
21615.
26775.
23206.
21000.

11319.
22059.
20892.
11538.
27896.
27853.
30115.

15637.
19118.
20982.
20562.
20275.
17930.
15050.

-9323.
2936.
-90 .
-9029.
7621.
9923.
15065.

-9257.
-73686.
-72395.
-9 6 6 1 1 .
-1 2 7 5 9 3 .
-10 5 3 5 9 .
-6 5 6 1 9 .

15020.
11792.
8157.
7900.
6561.
6132.
3792.

|
|
!
I
I
I
|

7057.
-51633.
-5 1 5 0 2 .
-3 5 0 7 3 .
-9 9 6 9 7 .
-7 7 5 0 2 .
-3 5 9 9 9 .

6990.
-5 8 9 5 9 .
-69327.
-98236.
-113361.
-8 9 3 0 0 .
-9 6 7 5 7 .

91861.
59699.
53703.
92812.
69510.
61905.
61370.

9293
8931
10182
9659
98 39
10397
10255

1

13

14
TABLE 341
REAL CAPITAL GAINS, PCE BASIS (EXCLUDING FARM HOUSEHOLDS)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
PHYSICAL ASSETS
TOTAL
ASSETS

FINANCIAL ASSETS

TOTAL

YEAR

TOTAL

REAL
ESTATE

MACHINERY
AND
MOTOR
VEHICLES

LIVE­
STOCK

STORED
CROPS

HOUSEHOLD
EQUIPMENT
AND
FURNISHINGS

TOTAL

0.

CURRENCY
AND BANK
DEPOSITS

0.

INVEST­
U .S .
MENTS
SAVINGS
IN
BONDS COOPERA­
TIVES

0.

DEBT

0.

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 ...

1063.
743.
-2 1 0 .
1014.
-512.
587.
-2 0 8 .
-1 8 2 5 .
-2 4 8 5 .
1768.

1063.
661.
-3 8 5 .
889.
-6 1 0 .
295.
-1098.
-3 2 0 0 .
-3 9 9 7 .
216.

1063.
677.
-35 2.
910.
-594.
343.
-933.
-2939.
-3718.
549.

1040.
590.
29.
310.
-4 7 1 .
805.
-1632.
-2692.
-2 7 8 0 .
2528.

-11.
-28 .
-45 .
-25 .
3.
2.
-4 4 .
93.
-52 .
-24 6.

201.
-194.
321.
398.
245.
-1 6 1 .-139.
195.
-779.
-1776.

-168.
309.
-65 7.
227.
-370.
-303.
883.
-535.
-1 0 7 .
43.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-16 .
-3 2 .
-21 .
-16 .
-4 8 .
-165.
-26 1.
-2 7 9 .
-33 3.

-1 4 .
-27 .
-18 .
-14 .
-40.
-14 0.
-222.
-2 4 0 .
-2 9 2 .

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-2.
-5.
-3 .
-3.
-8 .
-26 .
-3 8 .
-39.
-4 1 .

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

1920. . .
1921. . .
1922. . .
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.
-6 4 5 .
-1 4 9 9 .
-10 61 .
1326.
1097.
476.

-10013.
-2530.
1026.
-2 4 1 3 .
-8 4 3 .
-1 7 1 8 .
-9 8 9 .
1539.
1169.
661.

-9 9 7 0 .
-2 7 6 9 .
960.
-23 83 .
-8 0 8 .
-1676.
-1003.
1496.
1155.
624.

-5166.
-1814.
-3.
-2241.
-1367.
-10 18 .
-830.
553.
641.
627.

-24 3.
28.
164.
133.
34.
-60 .
-26 .
-42 .
-12.
-14 .

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

-23 43 .
-384.
496.
160.
748.
-860.
-394.
392.
-54 .
49.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-43 .
239.
66.
-3 0 .
-3 6 .
-4 2 .
14.
42.
14.
37.

-37 .
208.
57.
-25 .
-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 9 2 .
-3 7 0 .
167.
199.
219.
-72 .
-2 1 3 .
-72 .
-18 5.

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 ...

-2772.
-4217.
-4101.
1266.
881.
1027.
1621.
-1 6 1 9 .
-1 2 7 8 .
940.

-1943.
-28 83 .
-3225.
1088.
433.
852.
1422.
-1 7 0 2 .
-1198.
940.

-21 08 .
-31 40 .
-33 81 .
1121.
537.
901.
1483.
-1 6 7 5 .
-1 2 2 4 .
940.

-1006.
-1581.
-2846.
781.
-686.
671.
175.
-31 2.
-609.
-373.

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

-1 0 3 0 .
-6 8 3 .
-227.
-105.
-60 .
1353.
-2 8 8 .
42.
208.
162.

-21 3.
-1136.
-425.
479.
1279.
-11 38 .
1599.
-1446.
-884.
1187 .

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

164.
257.
156.
-33 .
-104.
-49 .
-6 1 .
-27 .
26.

125.
188.
107.
-22 .
-7 3 .
-36 .
-45.
-19 .
19.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

39.
69.
49.
-11 .
-31 .
-13 .
-1 6 .
-7.
7.

-82 9.
-1334.
-87 6.
178.
448.
175.
199.
83.
-81 .

1 9 4 0 ...
1 9 4 1 .. .
1942. . .
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 ...

-8 2 3 .
1979.
2684.
4418.
2778.
1982.
9.
2990.
-2467.
-21 04 .

-1 1 7 7 .
1230.
1872.
3852.
2432.
1577.
-70 8.
2477.
-2 6 5 9 .
-2069.

-10 51 .
1511.
2245.
4227.
2738.
2040.
286.
3187.
-2413.
-2 1 0 8 .

-510.
101.
322.
3088.
2719.
3109.
-1 8 6 .
-4 8 2 .
431.
234.

-7 2 .
-6 0 .
623.
708.
596.
-16 55 .
-1 0 3 1 .
166.
828.
337.

-90.
904.
1250.
-1070.
-4 9 3 .
372.
1469.
1023.
906.
-16 66 .

-378.
566.
51.
1501.
-8 3 .
213.
35.
2481.
-4 5 7 8 .
-1014.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-1 2 6 .
-281.
-373.
-37 5.
-3 0 6 .
-4 6 3 .
-994.
-711.
-2 4 6 .
39.

-9 0 .
-2 0 4 .
-284.
-3 0 2 .
-25 3.
-38 9.
-84 7.
-604.
-2 0 5 .
32.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-3 5 .
-7 7 .
-8 9 .
-7 3 .
-53 .
-73 .
-1 4 7 .
-1 0 7 .
-41 .
7.

353.
749.
812.
566.
346.
404.
717.
513.
19 2.
-35 .




1
1
1
1
1
1
1

0.

0.

0.

0.

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

YEAR

TOTAL

REAL
ESTATE

MACHINERY
AND
MOTOR
VEHICLES

LIVE­
STOCK

FINANCIAL ASSETS
HOUSEHOLD
STORED EQUIPMENT
AND
CROPS
FURNISHINGS

TOTAL

CURRENCY
AND BANK
DEPOSITS

INVEST­
U .S .
MENTS
SAVINGS
IN
BONDS COOPERA­
TIVES

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 .* .

9716.
6808.
-8402.
-7253.
2375.
1983.
5577.
4663.
9408.
1626.

9182.
6433.
-87 08 .
-73 67 .
2309.
1796.
5101.
4254.
9164.
1210.

9735.
6781.
-84 51 .
-7275.
2363.
1941.
5431.
4515.
9310.
1447.

5820.
4609.
-10 34 .
-2120.
2687.
3426.
4119.
2811.
6793.
2892.

-3 5 5 .
481.
-2 4 0 .
-251.
-6 0 .
166.
440.
-3 1 .
648.
484.

2742.
802.
-57 2 0 .
-30 72 .
-85 2.
-7 4 9 .
367.
2750.
2997.
-31 88 .

1528.
888.
-14 57 .
-18 3 2 .
588.
-9 0 2 .
505.
-10 15 .
-11 29 .
1259.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-55 3.
-3 4 7 .
-25 7.
-92 .
-54 .
-14 5.
-32 9.
-2 6 2 .
-14 6.
-2 3 6 .

-437.
-269.
-197.
-6 8 .
-40.
-104.
-228.
-17 3.
-9 4 .
-150.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-116.
-7 8 .
-61 ,
-23 .
-15 .
-4 1 .
— 01.
1
-8 9 .
-52 .
-8 6 .

533.
375.
306.
1 1 5.
66.
18 7.
476 .
410.
244.
415.

I9 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 ...
1968 . .
1 9 6 9 .,.

-1702.
3957,
3097.
3339.
5532.
9211.
5819.
2452.
-10 .
189.

-20 60 .
3654.
2669.
2876.
5111.
8446.
4742.
1265.
-1 8 9 4 .
-17 86 .

-18 84 .
3795.
2864.
3072.
5276.
8730.
5118.
1654.
-1298.
-1 1 5 4 .

-96 4.
3600.
2605.
4926.
5828.
6536.
3585.
3831.
163.
-2803.

-327.
187.
279.
-1 5 5 .
186.
-5 3 .
64.
343.
-4 0 .
-4 3 5 .

12.
235.
0.
-21 18 .
-15 53 .
2876.
623.
-795.
333.
2028.

-6 0 5 .
-2 2 7 .
-19.
418.
816.
-62 9.
847.
-17 25 .
-17 54 .
55.

xxxxxx
xxxxxx
xxxxxx

-17 6.
-1 4 0 .
-1 9 5 .
-19 6.
-1 6 5 .
-28 4.
-3 7 6 .
-38 9.
-59 6.
-63 1.

-10 5.
-7 9 .
-10 9.
-1 0 9 .
-8 9 .
-1 5 1 .
-1 9 9 .
-2 0 2 .
-305.
-323.

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-71 .
-61 .
-86 .
-87 .
-77.
-13 3.
-17 7.
-18 7.
-291.
-30 8.

35 8.
302.
427.
463.
421.
764.
10 77 .
11 87 .
1884.
1975.

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 ...
1978. . .
1979. . .

51.
10389.
28155.
46182.
6495.
37793.
57054.
27696.
72840.
54987 .

-2050.
8223,
26118.
41211.
28.
32728.
52536.
21419.
64124.
42338.

-1 3 8 3 .
8913.
26758.
42803.
2092.
34185.
53815.
23074.
66180.
45343.

-68 6.
6850.
18674.
33791.
16709.
32806.
54027.
23541.
49383.
38654.

44.
762.
611.
210.
5238.
5069.
2093.
1535.
1693.
2448.

-1495.
1976.
5177.
3265.
-21533.
4121.
-21 80 .
2175.
17085.
4261.

753.
-67 5.
2295.
5537.
1677.
-78 10 .
-12 5.
-4177.
-19 81 .
-21 .

xxxxxx
xxxxxx
xxxxxx
xxxxxx

-6 6 7 .
-690.
-6 4 0 .
-15 92 .
-2064.
-1457.
-12 79 .
-16 55 .
-20 56 .
-30 05 .

-340.
-33 4.
-30 1.
-76 2.
-10 22 .
-6 9 2 .
-56 7.
-67 8.
-8 4 0 .
-11 67 .

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-32 7.
-35 7.
-339.
-83 0.
-1042.
-765.
-712.
-97 7.
-1215.
-1837.

2101.
2166.
2037.
4971.
6466.
5065.
4518.
6276.
8716.
12649.

-4257.
-73686,
-72 3 9 5 .
-46611.
-127543.
-105354.
-65614.

-9 5 2 .
-71217.
-70703.
-45012.
-12 6 1 6 3 .
-104022.
-64754.

2460.
-54342.
-66561.
-34519.
-116752.
-9 6 9 8 2 .
-51484.

-21 15 .
2515.
2065.
-6 0 6 .
-32 23 .
753.
-1997.

-81 29 .
-11 24 6.
-24 43 .
-49 14 .
13.
-9 4 5 .
-995.

6831.
-1 1 1 4 3 .
-37 63 .
-49 73 .
-62 01 .
-68 4 8 .
-10277.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

-33 05 .
-2 4 7 0 .
-16 9 2 .
-15 99 .
-13 78 .
-13 32 .
-86 1.

-12 21 .
-845.
-573.
-53 1.
-3 9 2 .
-374.
-2 6 1 .

xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx
xxxxx

-2084.
-16 24 .
-11 18 .
-1068.
-986.
-95 8.
-60 0.

15020.
11792.
8157.
7400.
6561.
6132.
3792.

10763.
1 9 8 0 ...
-61895.
1981. . .
-64 23 7 .
1 9 8 2 ...
1 9 8 3 ...! -39211.
1 9 8 4 ...! -120981.
-99223.
1 9 8 5 ...
-61 8 2 2 .
1 9 8 6 ,..

!
I

!
|

1

XXXXXX

i

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx

XXXXXX

j

XXXXXX
XXXXXX

i
1

xxxxxx
xxxxxx

j
j
j
j

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 1 9 7 0 , CAPITAL GAINS ARE NOT ADJUSTED FOR INTER-SECTOR TRANSFERS.




15

TABLE 411
BALANCE SHEET OF THE FARMING SECTOR, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
CURRENT DOLLARS
AMOUNTS IN MILLIONS OF DOLLARS
ASSETS

CLAIMS
NON-REAL-ESTATE

YEAR
TOTAL

LIAB ILITIES

REAL
ESTATE

TOTAL
TOTAL

PHYSICAL

FINANCIAL

DEBT PLUS
CCC "LOANS"

CCC
"LOANS"

PROPRIETORS1
EQUITIES
DEBT

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 ..........

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.

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 ..........

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.

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 ..........

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.
13 2 3 1 .

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.

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

11930.
11104.
10105.
9018.
8599.
8653.
8363.
8271.
8267.
8275.

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

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

14 1 1 4 .
1804 8.
24110
2701 0
29 2 8 3
30209
3393 2
39008
42 06 5
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.

8533.
8587.
7956.
7251.
6717.
6710.
7360.
8090.
9058.
9489.

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

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 ..........
1947 ..........
1 9 4 8 ..........
1 9 4 9 ------ --

43013.
49746.
59316.
68021.
75175.
82326.
I
92290.
I
101614.
1 107132.
1 106647.
]______________




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

CLAIMS
NON-REAL-ESTATE

TOTAL

LIA BILITIES

REAL
ESTATE

TOTAL
TOTAL

PHYSICAL

FINANCIAL

DEBT PLUS
CCC "LOANS"

CCC
"LOANS"

DEBT

1955
1956
1957
1958
19 59

123256.
136777.
134556.
131162.
134816.
138132.
146299.
154393.
170207.
172958.

75877.
83619.
85107.
84113.
87546.
92449.
99902.
105630.
114230.
120136.

47379.
53158.
49449.
47049.
47270.
45683.
46397.
48763.
55977.
52822.

37315.
42643.
38813.
36439.
36603.
35229.
36258.
38500.
45133.
42324.

10064.
10515.
10636.
10610.
10667.
10454.
10139.
10263.
10844.
10498.

123256.
136777.
134556.
131162.
134816.
138132.
146299.
154393.
170207.
172958.

11678.
13109.
14467.
15304.
15949.
16960.
17435.
18410.
21518.
22473.

812.
588.
1184.
2390.
2219.
1870.
1563.
1215.
2473.
1165.

10866.
12521.
13283.
12914.
13730.
15090.
15872.
17195.
19045.
21308.

19 60
1961
1962
19 63
1964
19 65
1966
1967
1968
19 69

174779.
182873.
190664.
193351.
206007.
222065.
234807.
246349.
260228.
271627.

121750.
127509.
132985.
140864.
149282.
160043.
169149.
179014.
187877.
194157.

53029.
55364.
57679.
57487.
56725.
62022.
65658.
67835.
72351.
77470.

42617.
44405.
46411.
45925.
44798.
49516.
52818.
54516.
58346.
62789.

10412.
10959.
11268.
11562.
11927.
12506.
12840.
13319.
14005.
14681.

174779.
182873.
190664.
198351.
206007.
222065.
234807.
246849.
260228.
27162?.

23795.
25946.
28663.
31379.
33686.
37228.
40327.
43552.
46468.
48928.

1390.
1866.
2055.
1926.
1543.
1411.
1157.
1420.
2671.
2676.

22405.
24080.
26608.
29453.
32143.
35817,
39170.
42132.
43797.
46252.

19 70
1971
1 972
1 973
1974
1575
1976
1977
19 78
1979

281186.
304257.
343443.
422460.
44 5 7 X 9 ,
513843.
593846.
660270.
788215.
922965.

201252.
216440.
241811.
297080.
326954.
381071.
453529.
507712.
600653.
704177.

79934.
87817.
101632.
125380.
118765.
132772.
140317.
152558.
187562.
218788.

64443.
71150.
82920.
103880.
97001.
108757.
115024.
126528.
157572.
185765.

15491.
16667.
18712.
21500.
21764.
24015.
25293.
26030.
29990.
33023.

281186.
304257.
343443.
422460.
445719.
513843.
593846.
660270.
788215.
922965.

50483.
55307.
60232.
68120.
75955.
85218.
96962,
114903.
131919.
155160.

1876.
2262.
1793.
750.
319.
375.
1040.
4540.
5666.
5070.

48607.
53045.
58439.
67370.
75636.
84843.
95922.
110363.
126253.
150090.

19 80
1981
1982
1983
1984
1985
1986

1007715.
1010370.
983522.
960230.
859296.
774509.
714360.

779156.
780221.
745611.
736111.
639591.
559557.
515000.

228559.
230149.
237911.
224119.
219706. .
214953.
199360.

193954.
192646.
197262.
183857.
178419.
175227.
161000.

34605.
37503.
40649.
40262.
41287.
39726.
38360.

1007715.
1010370.
983522.
960230,
859296.
774509.
714360.

170207.
188833.
203598.
202450.
198983.
191979.
176065.

4978.
8011.
15433.
10801.
8942.
16928.
18805.

165229.
180822.
188165.
191649.
19004).
175051.
157260.

19 50,
1951
1 952
1 953,

1954




TABLE 511
OUTSTANDING FARM DEBT, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS

YEAR

DEBT EXCLUDING CCC LOANS

DEBT INCLUDING
CCC LOANS
TOTAL

ccc
LOANS

TOTAL

BANKS

COOPERATIVE
LIFE
FARM
INSURANCE
CREDIT
COMPANIES
SYSTEM

FARMERS
HOM
E
ADMINIS­
TRATION

INDIVIDUALS
AND
OTHERS

1 9 1 0 ..........
1911. . . . .
1912.....
1 9 1 3 ..........
1 9 1 9 ..........
1 9 1 5 ..........
1 9 1 6 ..........
1 9 1 7 . ____
1 9 1 8 ..........
1 9 1 9 ..........

5931.
5898.
6960.
6901.
7156.
7692.
8699.
10090.
10911.
13980.

xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx

5931.
5898.
6960.
6901.
7156.
7692.
8699.
10090.
10911.
13980.

1666.
1790.
2002.
2116.
2193.
2302.
2705.
3198.
3379.
9279.

xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
39.
138.
296.

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

xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx

3911.
3657.
3998.
9286.
9953.
9699.
5229.
6058.
6593.
8099.

1 9 2 0 ..........
1 9 2 1 ..........
1 9 2 2 ..........
1 9 2 3 . ____
1 9 2 9 ..........
1 9 2 5 ..........
1926 ..........
1 9 2 7 ..........
1 9 2 8 ..........
1 9 2 9 ..........

15735.
15051.
19762.
19907.
13296.
13160.
12925.
12985.
13068.
12651.

xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx

15735.
15051.
19762.
19907.
13296.
13160.
12925.
12985.
13068.
12651.

9871.
9393.
9182.
3996.
3539.
3539.
3387.
3332.
3332.
3190.

358.
939.
718.
1005.
1165.
1317 .
1962.
1561.
1582.
1587.

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

xxxxxxx
3.
3.
2.
2.
2.
2.
2.
2.
6.

9997 .
9025.
8559.
7956.
6971.
6605.
6299.
6273.
6369.
6097.

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

11930.
11109.
10105.
9018.
8899.
8933.
8568.
8589.
8897.
8720.

xxxxxxx
xxxxxxx
xxxxxxx
xxxxxxx
250.
280.
205.
313.
630.
995.

11930.
11109.
10105.
9018.
8599.
8653.
8363.
8271.
8267.
8275.

2788.
2397.
1997.
1959.
1012.
1109.
996.
1065.
1181.
1298.

1571.
1522.
1937.
1517.
2991.
2737.
2778.
2752.
2666.
2535.

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

7.
93.
100.
207.
180.
296.
283.
269.
317.
395.

5820.
5989.
5039.
9916.
3828.
3637.
3957.
3358.
3281.
3229.

1 9 9 0 ..........
1 9 9 1 ..........
1 9 9 2 ..........
1 9 9 3 ..........
1 9 9 9 ..........
1 9 9 5 ..........
1996 ..........
1997 ..........
1 9 9 8 ..........
1 9 9 9 ..........

9162.
9197 .
8729.
7890.
7900.
6987.
7925.
8179.
10210.
11210.

629.
610.
773.
589.
683.
277.
65.
89.
1152.
1721.

8533.
8587.
7956.
7251.
6717.
6710.
7360.
8089.
9058.
9989.

1386.
1965.
1277 .
1266.
1281.
1910.
1800.
2220.
2601 .
2729.

2978.
2387.
2159.
1839.
1591.
1392.
1211 .
1162.
1212.
1238.

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

961.
527.
599.
607.
566.
520.
516.
999.
968.
976.

3355.
3311 .
3039.
2709.
2530.
2677.
3076.
3397.
3897.
9061.




TABLE 511
OUTSTANDING FARM DEBT, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS
DEBT EXCLUDING CCC LOANS

DEBT INCLUDING
CCC LOANS
YEAR

FARMERS
HOM
E
ADMINIS­
TRATION

INDIVIDUALS
AND
OTHERS

TOTAL

TOTAL
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 ..........

11678.
13109.
14467.
15304.
15949.
16960.
17435.
18410.
21518.
22473.

812.
588.
1184.
2390.
2219.
1870.
1563.
1215.
2473.
1165.

10866.
12521.
13284.
12913.
13730.
15090.
15872.
17195.
19045.
21308.

3221 .
3813.
3929.
3542.
3766.
4222.
4221.
4549.
5160.
5888.

1336.
1489.
1590.
1597.
1708.
1954.
2219.
2563.
2955.
3443.

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

508.
515.
578.
631.
690.
712.
779.
853.
887.
942.

4654.
5395.
5727 .
5528.
5809.
6248.
6513.
6991 .
7723.
8565.

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 ..........
1967 ..........
1 9 6 8 ..........
1 9 6 9 ..........

23795.
25946.
28663.
31379.
33686.
37228.
40327.
43552.
46468.
48928.

1390.
1866.
2055.
1926.
1543.
1411 .
1157.
1420.
2671 .
2676.

22405.
24080.
26608.
29453.
32144.
35816.
39169.
42132.
43796.
46252.

6116.
6471.
7306.
8184.
8761.
9582.
10541.
11512.
12187.
12878.

3741 .
4146.
4551.
5012.
5594.
6400.
7449.
8534.
9315.
10510.

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

1005.
1273.
1425.
1563.
1712.
1974.
2133.
2347.
2568.
2720.

8928.
9401.
10324.
11336.
12255.
13565.
14380.
14780.
14559.
14922.

1 9 7 0 ..........
1971. . . . .
1 9 7 2 ..........
1 9 7 3 ..........
1 9 7 4 ..........
1 9 7 5 ..........
1976. . . . .
1977 ..........
1 9 7 8 ..........
)9 7 9 . . . . .

50483.
55307.
60232.
68120.
75955.
85218.
96962.
114903.
131919.
155160.

1876.
2262.
1793.
750.
319.
375.
1040.
4540.
5666.
5070.

48606.
53044.
58438.
67369.
75636.
84842.
95923.
110363.
126254.
150088.

13820.
15542.
17774.
21067.
22547.
24672.
28077.
31289.
34435.
37125.

11723.
13166.
14759.
17696.
21711.
25222.
29008.
32992.
37564.
45375.

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

2880.
3021.
3233.
3484.
3818.
4604.
4963.
6377.
8834.
14372.

15061.
16225.
17498.
19642.
21761.
24146.
27047.
31555.
35723.
41938.

1 9 8 0 ..........
1 9 8 1 ..........
1 9 8 2 ..........
1 9 8 3 ..........
1 9 8 4 ..........
1985,....
1 9 8 6 ..........

170207.
188833.
203598.
202450.
198983.
191979.
176065.

4978.
8011.
15433.
10801.
8942.
1 6 92 8.
18805.

165229.
I 180824.
I 188165.
191646.
190038.
175051.
157260.

37746.
38788.
41948.
45569.
46932.
44181.
41295.

52957.
61522.
64383.
64316“.
63319.
55352.
45520.

11991.
12136.
11898.
11834.
11592.
11036.
10250.

17367.
20683.
21270.
21514.
22921.
24252.
23910.

45168.
47695.
48666.
48413.
45274.
40230.
36285.




BANKS

COOPERATIVE
LIFE
FARM
INSURANCE
CREDIT
COMPANIES
SYSTEM

CCC
LOANS

19

20
OUTSTANDING FARM REAL ESTATE DEBT, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS
COOPERATIVE FARM CREDIT SYSTEM
TOTAL

BANKS
TOTAL

FEDERAL
LAND
BANKS

_________

FEDERAL
JOINTFARM
STOCK
MORTGAGE
LAND
CORPORATION____ BANKS___

LIFE
INSURANCE
COMPANIES

FARMERS
HOME
ADMINIS­
TRATION

INDIVIDUALS
AND
OTHERS

19 10 .
19 11 .
19 12 .
19 13 .
19 14 .
1915 .
1916 .
1917
1918
1919.

2947.
3289.
36 3 9 .
3939.
4177.
4399.
4875.
5471.
5973.
7071.

400.
485.
564.
606.
624.
650.
782.
844.
862.
1008.

******
XXX***
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
34.
138.
296.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
33.
131.
246.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
2.
7.
50.

354.
401.
460.
499.
560.
640.
720.
799.
851.
815.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

2194.
2402.
2615.
2834.
2992.
3109.
3374.
3793.
4121.
4952.

19 20
1921
1922
1923
1924
1 925
1926
1927
1928
1929

8554.
8956.
9025.
8924.
8295.
8127.
8082.
8164.
8164.
8058.

1211.
1289.
1261.
1162.
1004.
986.
958.
918.
876.
834.

358.
434.
718.
996.
1147.
1292.
1424.
1519.
1539.
1540.

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

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

65.
71.
183.
329.
373.
457.
529.
561.
550.
534.

1008.
1197.
1301.
1498.
1624.
1697 .
1776.
1817.
1788.
1771.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

5976.
6036.
5746.
5268.
4520.
4152.
3926.
3910.
3961.
3913.

1930
1931
19 32
1933
1934
19 35
1936
1937
1938
1939

7864.
7610.
7084.
6431.
6347.
6212.
5988.
5820.
5673.
5512.

793.
787.
744.
595.
418.
408.
408.
419.
434.
447.

1509.
1451.
1358.
1457.
2378.
2601.
2638.
2581.
2493.
2356.

1002.
988.
960.
1053.
1630.
1769.
1798.
1780.
1748.
1682.

xxxxxx
xxxxxx
xxxxxx
59.
516.
665.
704.
690.
648.
597.

507.
462.
398.
345.
232.
168.
136.
112.
96.
77.

1745.
1703.
1587.
1420.
1088.
930.
849.
827.
822.
823.

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
8.
27.

3818.
3669.
3396.
2960.
2463.
2272.
2092.
1993.
1916.
1859.

1940
1941
1942
1943
19 44
1945
1946
1947
1948

5454.
5381.
5040.
4592.
4210.
4065.
4172.
4305.
4490.
4714.

456.
451.
404.
381.
384.
433.
582.
715.
762.
788.

2282.
2171.
1945.
1611.
1331.
1129.
958.
847.
804.
815.

1644.
1588.
1453.
1237.
1031.
921.
832.
755.
737.
765.

576.
536.
460.
366.
296.
204.
125.
91.
66.
50.

61.
47.
31.
9.
5.
3.
1.
1.
0.
0.

853.
897.
882.
840.
799.
761.
757.
816.
880.
990.

55.
98.
135.
148.
167.
157.
164.
168.
167.
171.

1808.
1764.
1674.
1612.
1529.
1585.
1711.
1759.
1877.
1950.




TABLE 521
OUTSTANDING FARM REAL ESTATE DEBT, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS

YEAR

TOTAL

BANKS

i
i
1
1
1
|

COOPERATIVE FARM CREDIT SYSTEM
TOTAL

FEDERAL
LAND
BANKS

FEDERAL
FARM
MORTGAGE
CORPORATION

JOINTSTOCK
LAND
BANKS

LIFE
INSURANCE
COMPANIES
|
1
1
l

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 ..........
1959. . . . .

5184.
5657.
6161.
6602.
7058.
7750.
8486.
9012.
9671.
10 584.

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.
12 7 3 .
14 8 8 .
1646.
18 0 1 .
2046.

37.
28.
20.
15.
11.
******
******
******
******
******

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

11 4 7 .
1309 .
1 4 60 .
16 1 5 .
17 57 .
19 5 4 .
2140.
2239.
2320.
2470.

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

2142.
2365.
2578.
2743.
2888.
3072.
3337 .
3515.
37 92.
4142.

1960. . . . .
1 9 6 1 ..........
1962.....
1 9 6 3 ..........
1964. . . . .
1 9 6 5 ..........
1 9 6 6 ..........
1967. . . . .
1 9 6 8 ..........
19 69. . . . .

11 269.
12 259.
13424.
14922.
16835.
18921.
20645.
22540.
24605.
26246.

1399.
14 48.
1655.
1898.
2155.
2327.
2477.
2750.
3002.
31 16.

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

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

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

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

26 15.
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.

1 9 7 0 ..........
1 9 7 1 ..........
1 9 72 .....
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 ..........

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

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

6420.
7094.
8165.
9849.
12 187.
14533.
16 881.
19 640.
22686.
27322.

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

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

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

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

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

10 308.
10 806.
11607.
12914.
14 363.
15764.
17 258.
19556.
21712.
25660.

1 9 8 0 .....

87781.
97218.
101192.
103726.
102926.
97531.
89430.

7760.
7573.
7626.
8494.
9313.
10443.
11675.

33208.
40254.
43859.
44923.
45236.
41355.
34 955,

33208.
40254.
43859.
44923.
45236.
41 355.
34955.

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

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

11991.
12136.
11898.
11834.
11592.
11036.
10250.

7021.
7965.
8282.
8626.
9148.
9537.
9480.

27801.
29291.
29527.
29847.
27634.
25160.
23070.

1 9 8 1 ____ ,
1 9 8 2 ..........
1 9 8 3 ____ _
1 9 8 4 ..........
19 85 .....
1986. . . . .




21

22
OUTSTANDING FARM NON-REAL-ESTATE DEBT, DECEMBER 31 (EXCLUDING FARM HOUSEHOLDS)
AMOUNTS IN MILLIONS OF DOLLARS
DEBT INCLUDING
CCC LOANS

DEBT EXCLUDING CCC LOANS
COOPERATIVE FARM CREDIT SYSTEM

TOTAL

CCC
LOANS

TOTAL

BANKS

PRODUCTION
FEDERAL
TOTAL
CREDIT
INTERMEDIASSOCIAATE CREDIT
__________________ TIONS_________ BANKS___

X^XKXX

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

1218.
1255.
1383.
1452.
14 61.
1590.
1850.
2265.
2422.
3142.

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

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

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

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

xxxxxx
3.
3.
2.
2.
2.
2.
2.
2.
6.

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

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

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

1995.
15 60.
1203.
864.
594.
695.
587.
646.
746.
851.

62.
71.
79.
60.
113.
135.
140.
171.
173.
17 9 .

xxxxxx
xxxxxx
xxxxxx
xxxxxx
58.
89.
100.
13 2 .
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.

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.
12 18.
1505.
1839.
1936.

19 6 .
216 *
214.
223.
210.
213.
253.
315.
408.
423.

164.
179.
17 6 .
189.
180.
1 8 7.
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.

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

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

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

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

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

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

1920
1921
1922
1923
1924
1925
1926
1927
1928
1929

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

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

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

1930
1931
1932
1933
1934
1935
1936
1937
1938
1939

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

xxxxxx
xxxxxx
xxxxxx

1940
1941
1942
1943
1944
1945
1946
1947

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




FARMERS
INDIVIDUALS
HOME
AND
ADMINIS- I OTHERS
TRATION I

XXXXXX

1

1
I

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
YEAR

1 9 5 0 ..........
1 9 5 1 ..........
1 9 5 2 ..........
1 9 5 3 ..........
1954 . . . .
1955., ..
1 9 5 6 ..........
1957 ..........
1 9 5 8 ..........
1 9 5 9 ____ J i
jj
I 9 6 0 .......... I 1
1 9 6 1 .......... 1 1
I
1 9 6 2 ------ I
1 9 6 3 .......... I I
I
1 9 6 4 .......... 1
1 9 6 5 .......... 1 I
1 9 6 6 .......... 1I
1 9 6 7 .......... I I
1 9 6 8 .......... I I
1 9 6 9 .......... 1 I
|
j
1970.....1
1 9 7 1 .......... 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 ..........
1 9 8 0 ..........
1 9 8 1 ..........
1982 .....
1 9 8 3 ..........
1 9 8 4 ..........
1 9 8 5 ..........
1 9 8 6 ..........




COOPERATIVE FARM CREDIT SYSTEM 1
1 FARMERS INDIVIDUALS
PRODUCTION
FEDERAL 1
HOME
AND
TOTAL
CREDIT
INTERMEDI-I ADMINIS- 1 OTHERS
ASSOCIAATE CREDIT 1 TRATION
__________________ TIONS_________ BANKS___ 1
______________ 1

TOTAL

BANKS

5682.
6864.
7123.
6311.
6672.
7340.
7386.
8183.
9374.
10 724.

2385.
2949.
30 19.
2611.
2772.
3126.
31 00.
3407.
3932.
4554.

495.
617 .
658.
584.
612.
681.
731.
917.
1154.
. 1397.

433.
539.
57 5 .
520.
554.
619.
671.
850.
10 7 0 .
13 0 7 .

62.
78.
83.
64.
58.
62.
60.
67.
84.
90.

290.
268.
297.
331.
36 7 .
35 7 .
379.
383.
357.
350.

2512.
30 30.
3149.
2785.
2921 .
3176.
3176.
3476.
3931.
4423.

1390.
1866.
2055.
1926.
1543.
1411.
1157.
1420.
2671.
2676.

11136.
11821.
13 184.
14 531.
15 308.
16 896.
18 525.
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.
17 6 5 .
1972.
2186.
2476.
2895.
33 7 7 .
3673.
4315.

88.
99.
1 1 0.
126.
125.
140.
15 7 .
176.
180.
218.

369.
437.
489.
523.
567.
631.
647.
702.
723.
691.

4541.
4687 .
5169.
5624.
5824.
6394.
6762.
6575.
5431.
5020.

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.

10 491.
11811.
13 528.
16223.
17 235.
19051.
22002.
24295.
26718.
29327.

53 03.
6072.
6594.
7847.
9524.
10689.
12127.
13352.
14 878.
18 053.

50 83.
58 35.
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.

82426.
91615.
102406.
98724.
96057.
94448.
86635.

4978.
8011.
15 433.
10 801.
8942.
16 928.
18 805.

77448.
83605.
86973.
87922.
87115.
77520.
67830.

29986.
31 215.
34322.
37 075.
37619.
33 738.
29620.

19749.
21268.
20524.
19393.
18083.
13997.
10565.

18939.
20 355.
19653.
18543.
17208.
13460.
10290.

810.
913.
871.
850.
875.
537.
275.

10346.
12718.
12988.
12888.
13773.
14715.
14430.

17367.
18404.
19139.
18566.
17640.
15070.
13215.

TOTAL

CCC
LOANS

6493.
7451.
8306.
8701.
8892.
9210.
8949.
9399.
11 847.
11889.

812.
588.
1184.
2390.
2219.
1870.
1563.
1215.
2473.
1165.

12526.
13686.
15 239.
16 457.
16850.
18 306.
19 683.
21012.
21863.
22681.

i

23

24
PRICE INDEX USED IN COMPUTING VALUES IN 1986 DOLLARS (TABLES 1 0 1 ,
INDEX/

1986

PERCENTAGE CHANGE
FROM PREVIOUS YEAR

= 100

YEAR
ANNUAL
AVERAGE

112,

3

4

INDEX,

AND 4 1 2 )

AND REAL CAPITAL GAINS (TABLE 3 4 1 )
PERCENTAGE CHANGE
FROM PREVIOUS YEAR

1986 = 100 ,

YEAR
DECEMBER
31

ANNUAL
AVERAGE

DECEMBER
31

ANNUAL
AVERAGE

DECEMBER
31

ANNUAL
AVERAGE

DECEMBER
31

1910...
1911...
1912...
1913...
191A. . .
1915...
1916...
1917...
1918...
1919...

7.9
7.9
8.2
8.4
8.5
8.6
9.2
10.8
12.7
14.6

7.9
8.0
8.3
8.4
8.5
8.9
10.0
11.8
13.7
15.7

xxxxx
0.0
3.6
2.4
1.3
1.0
7.6
17.4
17.4
14.9

0.0
1.5
3.0
2.0
1.4
4.2
12.7
17.3
16.1
15.3

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

22.9
24.3
24.9
25.4
25.5
25.8
26.4
27.1
27.7
28.3

23.8
24.6
25.3
25.5
25.6
26.0
26.8
27.5
27.9
28.5

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

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

16.9
15.1
14.2
14.4
14.4
14.8
14.9
14.7
14.5
14.5

16.0
14.6
14.3
14.4
14.6
14.9
14.8
4,5
14.5
14.3

15.8
-10.7
-6.3
1.8
0.2
2.5

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...

28.8
29.2
29.7
30.1
30.6
31.2
32.1
32.9
34.4
35.9

29.0
29.4
29.9
30.4
30.9
31.6
32.6
33.6
35.1
36.7

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

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

14.1
12.7
11.2
10.8
11.7
12.0
12.1
12.6
12.4
12.3

13.4
12.0
11.0
11.2
11.8
12.0
12.3
12.4
12.3
12.3

-2.5
-10.0
-11.4
-3.6
7.8
2.4
1.3
3.7
-1.6
-0.7

-6.2
-10.5
-7.7
1.8
5.0
2.0
2.3

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

37.6
39.3
40.9
43.4
48.0
51.8
54.8
58.4
62.7
68.5

38.4
40.2
41.8
45.5
50.0
53.5
56.4
60.2
65.2
72.1

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
10.5

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

12.4
13.4
14.8
16.2
17.1
17.8
19.3
21.3
22.5
22.4

12.9
14.1
15.4
16.6
17.4
18.5
20.6
22.1
22.6
22.5

1.3
7.4
10.5
9.3
5.7
4.0
8.4
10.5
5.8
-0.4

4.4
9.2
9.9
7.3
4.9
6.3
11.4
7.2
2.4
-0.4

1980...
1981...
1982...
1983...
1984...
1985...
1986...

75.8
82.8
87.6
91.2
94.7
98.0
100.0

79.6
85.5
89.4
93.0
96.3
99.4
101.6

10.7
9.2
5.7
4.1
3.8
3.5
2.1

10.5
7.4
4.6
4.0
3.5
3.3
2.2

1.0
-1.9
-1.3

0.0

|
|
|
1

-

1. 0
1. 0
0. 0

!

FOR 1 9 2 9 - 1 9 8 6 , THE INDEX SHOWN I S 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 TW ADJOINING QUARTERS (FOR 1 9 2 9 - 1 9 4 5 , THE TW ADJOINING YEARS).
O
O
FOR YEARS BEFORE 1 9 2 9 , THE INDEX SHOWN I S BASED ON THE CONSUMER PRICE INDEX ADJUSTED TO THE LEVEL OF THE PCE DEFLATOR IN 1 9 2 9 .




FARM DEBT OUTSTANDING (including farm households)
Total debt
541
542

Annual..... .................... 26
Quarterly...................... 27

Real estate and non-real-estate debt
551
552

Annual.........................
Quarterly......................

30
31

Major institutional farm lenders provide monthly or quarterly reports on their outstanding amount of farm loans.
The USDA compiles annual year-end data for these lenders and also estimates the amount of debt held by
nonreporting lenders ("individuals and others"). The annual data shown are from sources listed on page 3.
The quarterly series shown in Tables 542 and 552 are new quarterly estimates of total farm debt (excluding CCC
"loans," which are shown only as an addendum item) intended to be consistent with the annual estimates published
by the USDA. For the major institutional lenders, the quarterly series shown are based on the quarterly reports
listed below, but during each year the data for each quarter have been adjusted by the amount required to make
the year-end value correspond to the annual series.
(At year-end, USDA estimates differ somewhat from lender
reports because of such adjustments as the exclusion of nonfarm loans or of loans in Puerto Rico.) For
"individuals and others," quarterly series have been constructed by imputing the average seasonal variation
observed at lenders that report quarterly.
The quarterly reports used are:
quarterly reports of condition, all insured commercial banks;
quarterly call data for the Farm Credit System obtained by the Farm Credit Administration;
"Cross Flow of Mortgage Loans in the United States," American Council of Life Insurance;
"Report 616," Farmers Home Administration, U.S. Department of Agriculture; and
estimates of CCC "loans" made by the Economic Research Service, U.S. Department of Agriculture.




25

26

TABLE 541
FARM DEBT OUTSTANDING (INCLUDING FARM HOUSEHOLDS)

END OF
QUARTER

TOTAL

541.1
1 9 7 8 - ..........
1 9 7 9 - ..........
1 9 8 0 - ____ _
1 9 8 1 - ..........
1 9 8 2 - ..........
1983-*, . . .
1 9 8 4 -.....
1 9 8 5 - ..........
1 9 8 6 - ____ _

135437.
161004.
177162.
193961.
201737.
205400.
203695.
187859.
168866.
541.2

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
1 9 8 4 - .......... 1I
1 9 8 5 - .......... 1I
1 9 8 6 - .......... I
1

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
541.3

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 - ..........
1 9 8 6 - ..........

16992.
25567.
16 158.
16799.
7776.
3663.
-1705.
-15836.
-18993.
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 9 8 6 - ..........

1
1
1
]
I
I
1

14.3
18.9
10.0
9.5
4.0
1.8
“ .8
-7.8
-10.1




NON-REALESTATE

REAL
ESTATE
AMOUNT,

END OF YEAR,

71610.
85599.
95582.
105756.
109977.
112617.
111645.
105690.
96807.

63827.
75405.
81580.
88205.
91760.
92783.
92050.
82169.
72059.

PERCENTAGE OF TOTAL,
52.9
53.2
54.0
54.5
54.5
54.8
54.8
56.3
57.3

47.1
46.8
46.0
45.5
45.5
45.2
45.2
43.7
42.7

CHANGE DURING YEAR,
8152.
13989.
9983.
10174.
4221.
2640.
-972.
-5955.
-8883.

8840.
11578.
6175.
6625.
3555.
1023.
-733.
-9881.
-10110.

TOTAL

REAL
ESTATE

ADDENDUM:

REPORTING LENDING INSTITUTIONS

INDIVIDUALS AND OTHERS

TOTAL DEBT

TOTAL

NON-REALESTATE

INSURED COOPERATIVE
LIFE
FARM
INSURANCE
COMMERCIAL
CREDIT
COMPANIES
BANKS
___ SYSTEM

CCC
"LOANS"

FARMERS
HONE
ADMINIS­
TRATION

MILLIONS OF DOLLARS
37935.
44490.
47901.
50550.
51530.
51265.
47900.
42578.
38398.

23638.
27880.
30180.
31770.
32000.
32320.
29900.
27200.
24914.

17.5
17.3
17.0
16.4
15.9
15.7
14.7
14.5
14.8

10.6
10.3
10.0
9.7
9.7
9.2
8.8
8.2
8.0

97502.
116514.
129261.
143411.
150207.
154135.
155795.
145281.
130468.

10478.
12165.
12928.
13074.
12802.
12717.
12444.
11836.
10983.

9901 ,
16093.
19471.
23196.
23844.
24098.
25664.
27145.
26750.

5666 .
5070.
4978 .
8011.
15433.
10801.
8942.
16928.
18805.

36 830.
39657.
40127.
41200.
44520.
48 343.
49785.
46898.
43870.

40292.
48598.
56735.
65941.
69042.
68976.
67903.
59402.
48865.

72.0
72.4
73.0
73.9
74.5
75.0
76.5
77.3
77.3

27.2
24.6
22.6
21.2
22.1
23.5
24.4
25.0
26.0

29.7
30.2
32.0
34.0
34.2
33.6
33.3
31.6
28.9

7.7
7.6
7.3
6.7
6.3
6.2
6.1
6.3
6.5

12 636.
19012.
12 747.
14150.
6796.
3928.
1660.
-10514.
-14813.

14 297.
16610.
17721.
18 780.
19 530.
18945.
18 000.
15 378.
13 484.

3341.
2827.
470.
1073.
3320.
3823.
1442.
-2887 .
-3028.

4858.
8306.
8137 .
9206.
3101.
-66.
-1073.
-8501.
-10537.

1659.
1687.
763.
14 6 .
-272.
-85.
-273.
-608.
-853.

27 78.
6192.
3378.
3725.
648.
254.
1566 .
1481 .
-395.

1126.
-596.
-92.
3033.
7422.
-4632.
-1859.
7986.
1877.

10.0
7.7
1.2
2.7
8.1
8.6
3.0
-5.8
-6.5

13.7
20.6
16.7
16.2
4.7
-.1
-1.6
-12.5
-17.7

18.8
16.1
6.3
1.1
-2.1
-.7
-2.1
-4.9
-7.2

39.0
62.5
21.0
19.1
2.8
1.1
6.5
5.8
-1.5

24.8
-10.5
-1.8
60.9
92.6
-30.0
-17.2
89.3
11.1

I
!
I

END OF YEAR
28.0
27.6
27.0
26.1
25.5
25.0
23.5
22.7
22.7

|
I
I

7.3
10.0
11.0
12.0
11.8
11.7
12.6
14.4
15.8

xxx*xx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

MILLIONS OF DOLLARS
4356.
6555.
34 11.
2649.
980.
-265.
-3365.
-5322.
-4180.

2303.
4242.
2300.
1590.
230.
320.
-2420.
-2700.
-2286.

2053.
2313.
1111.
1059.
750.
-585.
-945.
-2622.
-1894.

10.8
17.9
8.2
5.3
.7
1.0
-7.5
-9.0
-8.4

16.8
16.2
6.7
6.0
4.0
-3.0
-5.0
-14.6
-12.3

PERCENTAGE CHANGE DURING YEAR
12.8
19.5
11.7
10.6
4.0
2.4
-.9
-5.3
-8.4

16.1
18.1
8.2
8.1
4.0
1.1
-.8
-10.7
-12.3

13.0
17.3
7.7
5.5
1.9
-.5
-6.6
-11.1
-9.8

14.9
19.5
10.9
10.9
4.7
2.6
1.1
-6.7
I -10.2
J
___________

TABLE 542
FARM DEBT OUTSTANDING
TOTAL DEBT
END OF
QUARTER

TOTAL

542.1

REAL
ESTATE
AMOUNT,

REPORTING LENDING INSTITUTIONS

INDIVIDUALS AND OTHERS
NON-REALESTATE

TOTAL

END OF QUARTER,

REAL
ESTATE

NON-REALESTATE

TOTAL

ADDENDUM:

LIFE
FARMERS
INSURED COOPERATIVE
FARM
INSURANCE
HOM
E
COMMERCIAL
CREDIT
COMPANIES ADMINISBANKS
___ SYSTEM___________________ TRATION

CCC
"LOANS"

MILLIONS OF DOLLARS

1983-Q1...
-Q 2 ...
~Q3. . .
- Q 4 ...

201671.
207359.
208244,
205399.

110360.
111580.
112319.
112617.

91311.
95779.
95924.
92782.

51235.
52232.
52365.
51265.

32 085.
32 2 9 3 .
32390.
32320.

19150.
19939.
19975.
18945.

150436.
155127.
155878.
154134.

44897.
47452.
48166.
48343.

68769.
69993.
70116.
68976.

12 630.
12642.
12727.
12717.

24140.
25040.
24 870.
24 098.

19084.
16055.
12207.
10801.

1984-Q l . ..
- Q 2 ...
- Q 3 ...
-Q 4 ...

204759.
209811.
210311.
203696.

112360.
112728.
112745.
111646.

92399.
97083.
97566.
92050.

50188.
50399.
49778.
47900.

31717.
31221.
30640.
29900.

18 471.
19178.
19138.
18000.

154571.
159412.
160533.
15 5796.

48838.
51269.
51715.
49785.

68474.
69612.
69966.
67903.

12 549.
12561.
12622.
12444.

24710.
25970.
26230.
25664.

8806.
6525.
6474.
8942.

1 9 3 5 -Q 1 ...
- Q 2 . ..
-Q 3 .,.
-Q4. . .

200146.
202523.
198736.
187859.

111062.
109868.
107973.
105690.

89084.
92655.
90763.
82169.

46349.
45984.
44862.
42578.

29231.
28647.
28003.
27200.

17118.
17336.
16859.
15378.

15 3797.
156539.
153874.
145281.

48565.
50523.
50218.
46898.

66485.
65601.
63157.
59402.

12177.
12135.
12039.
11836.

26570.
28 280.
28460.
27145.

9973.
8808.
9812.
16 92 S.

1986-Q1...
- Q 2 ...
- Q 3 ...
"Q4. . .

132464.
181639.
178027.
168866.

103888.
101645.
99699.
96807.

78576.
79094.
78328.
72059.

!
I
I
|
|
I
|
I

41351.
41143.
40292.
38398.

26643.
26147.
25604.
24914.

14708.
14996.
14688.
13484.

14 1113.
140495.
137735.
130468.

45459.
46227.
46035.
43870.

56871 .
54665.
52274.
48865.

11 623.
11313.
11406.
10983.

27 160.
28290.
28020.
26 750.

19780.
17966.
15763.
18805.

1987-Q1. . .

161696.

94299.

67397.

|
I
1
1

36700.

24250.

12450.

124996.

42000.

45701.

10700.

26595.

XXXXXXX

542.2

PERCENTAGE OF TOTAL,

jj

END OF QUARTER

1983-Q1. . .
-Q 2...
” Q3 . . >
~Q4...

100.0
100.0
100.0
100.0

54.7
53.8
53.9
54.8

45.3
46.2
46.1
45.2

25.4
25.2
25.1
25.0

15.9
15.6
15.6
15.7

9.5
9.6
9.6
9.2

74.6
74.8
74.9
75.0

22.3
22.9
23.1
23.5

34.1
33.8
33.7
33.6

6.3
6.1
6.1
6.2

12.0
12.1
11.9
11.7

xxxxxx
xxxxxx
xxxxxx
1 xxxxxx

1984-Q1...
- Q2 - . .
- Q 3 ...
~Q4, . .

100.0
100.0
100.0
100.0

54.9
53.7
53.6
54.8

45.1
46.3
46.4
45.2

24.5
24.0
23.7
23.5

15.5
14.9
14.6
14.7

9.0
9.1
9.1
8.8

75.5
76.0
76.3
76.5

23.9
24.4
24.6
24.4

33.4
33.2
33.3
33.3

6.1
6.0
6.0
6.1

12.1
12.4
12.5
12.6

xxxxxx
xxxxxx
xxxxxx
xxxxxx

1985-Q1...
-Q 2 ...
- Q 3 . ..
- Q 4 ...

100.0
100.0
100.0
100.0

55.5
54.2
54.3
56.3

44.5
45.8
45.7
43.7

23.2
22.7
22.6
22.7

14.6
14.1
14.1
14.5

8.6
8.6
8.5
8.2

76.8
77.3
77.4
77.3

24.3
24.9
25.3
25.0

33.2
32.4
318
31.6

6.1
6.0
6.1
6.3

13.3
14.0
14.3
14.4

1986-Q 1...
-Q2. . .
-Q3. . .
- Q 4 ...

100.0
100.0
100.0
100.0

56.9
56.0
56.0
57.3

43.1
44.0
44.0
42.7

22.7
22.7
22.6
22.7

14.6
14.4
14.4
14.8

8.1
8.3
8.3
8.0

77.3
77.3
77.4
77.3

24.9
25.4
25.9
26.0

31.2
30.1
29.4
28.9

6.4
6.2
6.4
6.5

14.9
15.6
15.7
15.8

1987-Q1...

100.0

58.3

41.7

22.7

15.0

7.7

77.3

26.0

28.3

6.6

16.4




i

xxxxxx
xxxxxx
xxxxxx
xxxxxx
t

xxxxxx
xxxxxx
xxxxxx
xxxxxx

xxxxxx

27

TABLE 542 (CONTINUED)
FARM DEBT OUTSTANDING
TOTAL DEBT
END OF
QUARTER

TOTAL

542.3

REAL
ESTATE

NON-REAL-|
ESTATE
|

TOTAL

CHANGE FROM PREVIOUS YEAR,

REAL
ESTATE

ADDENDUM:

""“"REPORTING LENDING” "INSTITUTIONS

INDIVIDUALS AND "OTHER'S------NON-REALESTATE

TOTAL

INSURED COOPERATIVE LIFE
FARM
INSURANCE
COMMERCIAL
CREDIT
COMPANIES
BANKS
SYSTEM

CCC
FARMERS
"LOANS"
HOM
E
ADMINIS­
TRATION 1

MI11I ONS OF DOLLARS

5805.
3803.
2230.
3662.

3116.
2586.
2400.
2640.

2690.
1217.
-170.
1022.

640.
37 0 .
109.
-265.

23 9 .
242.
286 .
321.

401 .
1 2 8.
-178.
-585.

5165.
3432.
2121.
3927.

32 6 2 ,
3220.
2605
3823.

1668.
257.
-375.
-66.

-345.
-325.
-179.
-85.

5 8 0.
280.
70.
254.

7979.
6175.
18 0 2 .
-4632.

1984-Q1. . .
- Q2. . .
- Q 3 . ..
*"Q4. . .

3088.
2452.
2367.
-1704.

2000.
1148.
425.
-972.

1088.
1304.
1642.
-732.

-1047 .
-1833.
-2587.
-3366.

-368 .
-1072.
-1750.
-2421.

-678.
-762.
-837 .
-945.

41 35.
4285
4654.
1662.

39 4 1 .
3817 .
3549.
1 4 42 .

-296.
-381 .
-150.
-1073.

-81 .
-81 .
-105.
-273.

57 0.
9 3 0.
1360 .
1566 .

-10278.
-9530.
-5733.
-1859.

1985-Q1. . .
-Q2. . .
- Q 3 ...
-Q4. . .

-4613.
-7288.
-11575.
-15836.

-1298.
-2860.
-4772.
-5955.

-3315.
-4428.
-6803.
-9881 .

-3839.
-4415.
-4916.
-5321.

-2486 .
-2574.
-2637.
-2699.

-1353.
-1841.
-2279.
-2622.

-774.
-2873.
-6659.
-10515.

-273.
-746.
-1497.
-2887.

-1989.
-4011.
-6809.
-8501.

-372.
-426 .
-583.
-608.

1860.
2310.
2230.
1481 .

1168.
2283.
3338.
7986 .

-17682.
1986-Q1. . .
-20884.
- Q 2 ,..
-Q3. . . 1 -2 0 7 0 9 .
-18994.
-Q4. . .

-7174.
-8223.
-8274.
-8834.

-10508.
-12661.
-12435.
-10110.

-4998.
-4840.
-4570.
-4181.

-2588.
-2500.
-2399.
-2287.

-2410.
-2340.
-2171.
-1894.

-12684.
-16043.
-16139.
-14813.

-3106,
-4296.
-4183.
-3028.

-9614.
-10936.
-10883.
-10537.

-554.
-822.
-633.
-853.

590.
10.
-440.
-395.

9807
9157
5951
1877

-20763.

-9590.

-11179.

-4651.

-2393.

-2258.

-16117.

-3459.

-11170.

-923.

-565.

*******

1983-Q1...
-Q2. . . I
-Q3. . .
-Q4. . .

1987-Q1. . .

1
542.4

PERCENTAGE CHANGE FROM PREVIOUS YEAR
1.3
.7
.2
-.5

.8
.8
.9
1.0

2.1
.6
-.9
-3.0

|
I
1
I

3.6
2.3
1.4
2.6

7.8
7.3
5.7
8.6

2.5
.4
-.5
-.1

-2.7
-2.5
-1.4
-.7

2.5
1.1
.3
1.1

71.8
62.5
17.3
-30.0

1.2
1.4
1.7
-.8

-2.0
-3.5
-4.9
-6.6

-1.1
-3.3
-5.4
-7.5

-3.5
-3.8
-4.2
-5.0

1
I
|
1

2.7
2.8
3.0
1.1

8.8
8.0
7.4
3.0

-.4
-.5
-.2
-1.6

-.6
-.6
-.8
-2.1

2.4
3.7
5.5
6.5

-53.9
-59.4
-47.0
-17.2

-1.2
-2.5
-4.2
-5.3

-3.6
-4.6
-7.0
-10.7

-7.6
-8.8
-9.9
-11.1

-7.8
-8.2
-8.6
-9.0

-7.3
-9.6
-11.9
-14.6

I
I
I
|

-.5
-1.8
-4.1
- 6 .7

-.6
-1.5
-2.9
-5.8

-2.9
-5.8
-9.7
-12.5

-3.0
-3.4
-4.6
-4.9

7.5
8.9
8.5
5.8

13.3
35.0
51.6
89.3

-8.8
-10.3
-10.4
-10.1

-6.5
-7.5
-7.7
-8.4

-11.8
-13.7
-13.7
-12.3

-10.8
-10.5
-10.2
-9.8

-8.9
-8.7
-8.6
-8.4

-14.1
-13.5
-12.9
-12.3

I
I
I
I

-8.2
-10.2
-10.5
-10.2

-6.4
-8.5
-8.3
-6.5

-14.5
-16.7
-17.2
-17.7

-4.6
-6.8
-5.3
-7.2

2.2
.0
-1.5
-1.5

98.3
104.0
60.7
11.1

-11.4

-9.2

-14 .2

-11.2

-9.0

-15.4

I

-11.4

-7.6

-19.6

-7,9

-2.1

XXXXXX

1983- Q l . . .
-Q2. . .
~ Q3 . . .
~Q4...

3.0
1.9
1.1
18

2.9
2.4
2.2
2.4

3.0
1.3
-.2
1.1

1984 Q l . . .
- Q 2 . ..
- Q 3 . ..
- Q 4 ...

1.5
1.2
1.0
-.8

1.8
1.0
.4
-.9

1985-Q1. . .
-Q2. . .
-Q 3 ...
- Q 4 ...

-2.3
-3.5
-5.5
-7.8

1986-Q1...
-Q2. . .
-Q3. . .
- Q 4 ...
1 9 8 7 -Q 1 ...




1

.
.
.
.

TABLE 542 (CONTINUED)
FARM DEBT OUTSTANDING

END OF
QUARTER

TOTAL

542.5

REAL
ESTATE

REPORTING LENDING INSTITUTIONS

INDIVIDUALS AND OTHERS

TOTAL DEBT
NON-REALESTATE

TOTAL

REAL
ESTATE

NON-REALESTATE

TOTAL

LIFE
INSURED COOPERATIVE
FARM
INSURANCE
COMMERCIAL
CREDIT
COMPANIES
BANKS
SYSTEM_________________

1ADDENDUM:
1
FARMERS 1
CCC
HOM
E
1 "LOANS"
ADMINIS­ 1
TRATION 1

CHANGE DURING QUARTER, MILLIONS OF DOLLARS

1983-QI...
-Q 2.. .
-Q 3.. .
-Q 4.. .

-66.
5688.
885.
-2844.

382.
1220.
739.
298.

-449.
4468.
145.
-3142.

-295.
997.
133.
-1100.

85.
208.
97.
-69.

-380.
789.
36.
-1030.

229.
4691.
751.
-1744.

377.
2555.
714.
177.

-272.
1224.
123.
-1140.

-172.
12.
85.
-10.

29 6.
9 0 0.
-170.
-772.

3651.
-3029.
-3848.
-1406.

1984-Q1.. .
-Q 2 ...
-Q3. . .
-Q 4.. .

-640.
5052.
500.
-6615.

-257.
368.
17.
-1099.

-383.
4684.
483.
-5516.

-1077.
211.
-621.
-1878.

-604.
-495.
-581.
-740.

-474.
706.
-39.
-1138.

437.
4841.
1121.
-4737.

495.
2431.
446.
-1930.

-502.
11 39.
354.
-2063.

-168.
11.
61.
-178.

612.
1260.
26 0 .
-566 .

-1995.
-2280.
-51.
2468.

1985-Q1. . .
“ Q2 . . .
-Q3. . .
-Q 4.. .

-3549.
2376.
-3787.
-10876.

-584.
-1194.
-1895.
-2282.

-2966.
3570.
-1891.
-8594.

-1550.
-366.
-1121.
-2284.

-669.
-584.
-644.
-803.

-882.
218.
-477.
-1481.

-1999.
2742.
-2665.
-8593.

-1220.
1958.
-305.
-3320.

-1418.
-884.
-2444.
-3755.

-267.
-43.
-96.
-203.

90 6.
1710.
180.
-1315.

10 32 .
-1165.
1 0 04 .
7116.

1986-Q1.. .
-Q 2.. .
- Q 3 . ..
~Q4. . .

-5395.
-826.
-3612.
-9161.

-1802.
-2243.
-1946.
-2892.

-3593.
1418.
-1665.
-6269.

-1227.
-208.
-851.
-1895.

-557.
-496.
-543.
-691.

-670.
288.
-308.
-1204.

-4168.
-618.
-2761.
-7267.

-1439.
768.
-192.
-2165.

-2531.
-2206.
-2391.
-3409.

-213.
-310.
92.
-423.

15.
11 30 .
-270.
-1270.

28 52.
-1815.
-2202.
3042.

1987-Q1...

-7170.

-2508.

-4662.

-1698.

-664.

-1034.

-5472.

-1870.

-3164.

-283.

-155.

XXXXXXX

542.6

PERCENTAGE CHANGE DURING QUARTER

1983-QI. , .
-Q 2.. .
“ Q3 . . .
-Q 4 ...

-.0
2.8
.4
-1.4

.3
1.1
.7
.3

-.5
4.9
.2
-3.3

-.6
1.9
.3
-2.1

.3
.6
.3
-.2

-1.9
4.1
.2
-5.2

.2
3.1
.5
-1.1

.8
5.7
1.5
.4

-.4
1.8
.2
-1.6

-1.3
.1
.7
-.1

1.2
3.7
-.7
-3.1

23.7
-15.9
-24.0
-11.5

1984-Q1...
-Q 2 ...
-Q3. . .
~Q4...

-.3
2.5
.2
-3.1

-.2
.3
.0
-1.0

-.4
5.1
.5
-5.7

-2.1
.4
-1.2
-3.8

-1.9
-1.6
-1.9
-2.4

-2.5
3.8
-.2
-5.9

.3
3.1
.7
-3.0

1.0
5.0
.9
-3.7

-.7
1.7
.5
-2.9

-1.3
.1
.5
-1.4

2.5
5.1
1.0
-2.2

-18.5
-25.9
-.8
38.1

1985-Q l . ..
-Q2...1
~ Q3. . .
~Q4...

-17
1.2
-1.9
-5.5

-.5
-1.1
-1.7
-2.1

-3.2
4.0
-2.0
-9.5

-3.2
-.8
-2.4
-5.1

-2.2
-2.0
-2.2
-2.9

-4.9
1.3
-2.8
-8.8

-1.3
1.8
-1.7
-5.6

-2.5
4.0
-.6
-6.6

-2.1
-1.3
-3.7
-5.9

-2.1
-.3
-.8
-1.7

3.5
6.4
-4.6

11.5
-11.7
11.4
72.5

1986-Q1. . .
-Q2. . .
-Q3. . .
-Q 4 ...

-2.9
-.5
-2.0
-5.1

-1.7
-2.2
-1.9
-2.9

-4.4
1.8
-2.1
-8.0

-2.9
-.5
-2.1
-4.7

-2.0
-1.9
-2.1
-2.7

-4.4
2.0
-2.1
-8.2

-2.9
-.4
-2.0
-5.3

-3.1
1.7
-.4
-4.7

-4.3
-3.9
-4.4
-6.5

-1.8
-2.7
.8
-3.7

.1
4.2
-1.0
-4.5

16.8
-9.2
-12.3
19.3

1987-Q1. . .

-4.2

-2.6

-6.5

-4.4

-2.7

-7.7

-4.2

-4.3

-6.5

-2.6

- .6




.6

xxxxxx

29

30

TABLE 551
FARM DEBT OUTSTANDING AT REPORTING LENDING INSTITUTIONS (INCLUDING FARM HOUSEHOLDS)
NON- REAL-ESTATE DEBT

REAL ESTATE DEBT
END OF
QUARTER

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 9 - ..........
1 9 8 5 - ..........
1 9 8 6 - ..........

97502.
116519.
129261.
193911.
150207.
159135.
155795.
195281.
130968.
551.2

1 9 7 8 - .......... [ x x x x x x
xxxxxx
1 9 7 9 - ..........
xxxxxx
1 9 8 0 - ..........
xxxxxx
1 9 8 1 - ..........
xxxxxx
1 9 8 2 - ..........
xxxxxx
1 9 8 3 - ..........
xxxxxx
1 9 8 9 -.....
xxxxxx
1 9 8 5 - ..........
xxxxxx
1 9 8 6 - ..........
551.3
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 9 - ..........
1 9 8 5 - ..........
1 9 8 6 - ..........

12636.
19012.
12797.
19150.
6796.
3928.
1660.
-10519.
-19813.
551.9

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 9 - ..........
1 9 8 5 - ..........
1 9 8 6 - ..........

INSURED
COMMERCIAL
BANKS

TOTAL

19.9
19.5
10.9
10.9
9.7
2.6
1.1
-6.7
-10.2




AMOUNT,

END OF YEAR,

97972.
57719.
65902.
73986.
77977.
80297.
81795.
78990.
71893.

8557.
8623.
8563.
8392.
8392.
9317.
10186 .
11385.
12 690.

FEDERAL
LAND
BANKS

LIFE
INSURANCE
COMPANIES

17.8
19.9
13.1
11.3
10.8
11.6
12.5
19.5
17.7

CHANGE DURING YEAR,
5899.
9797.
7683.
8589.
3991.
2320.
1998.
-3255.
-6597.

777.
66.
-60.
-221.
50.
925.
869.
1199.
1305.

TOTAL

FEDERAL Fa rmers INJURED PRODUCTION
INTERMEDI­
HOM
E
CREDIT
COMMERCIAL
ATE CREDIT a d m i n i s ­
ASSOCIA­
BANKS
BANKS
tration
TIONS

CCC
"LOANS"

MILLIONS OF DOLLARS
29816.
29820.
36196.
93825.
97699.
98811.
99103.
99895.
37870.

99530.
58795.
63859.
69925.
72230.
73838.
79050.
‘ 66791.
58575.

28273.
31039.
31 569.
32 858.
36128.
39026.
39599.
35513.
31180.

19967.
18113.
19729.
21203.
20972.
19315.
17925.
19020.
10720.

509.
665.
810.
913.
871.
850.
875.
537.
275.

5780.
8982.
11756.
19952.
19759.
19696.
15 6 5 1 .
16721.
16900.

8.6
12.3
11.8
11.8
11.7
11.8
12.2
13.3
19.9

100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

57.1
52.8
99.9
97.3
50.0
52.9
53.5
53.2
53.2

30.2
30.8
30.9
30.5
28.3
26.2
29.2
21.0
18.3

1.0
1.1
1.3
1.3
1.2
1.2
1.2
.8
.5

11.7
15.3
18.9
20.8
20.9
19.8
21.1
25.0
28.0

1659.
1687.
763.
196.
-272.
-85.
-273.
-608.
-853.

139.
2990.
609.
1029.
391.
367.
561.
911.
-79.

6787.
9265.
5069.
5566.
2805.
1608.
212.
-7259.
-8216.

2569.
2761.
530.
12 99.
3270.
2898.
573.
-9086.
-9333.

1998.
3196.
1616.
1979.
-731.
-1157.
-1390.
-3905.
-3300.

13 5 .
1 5 6.
1 9 5.
1 0 3.
-92.
-21.
25.
-338.
-262.

18.8
16.1
6.3
1.1
-2.1
-.7
-2.1
-9.9
-7.2

3.5
72.6
8.5
13.3
3.9
9.0
5.9
9.1
-.7

15.9
18.7
8.6
8.7
9.0
2.2
.3
-9.8
-12.3

10.0
9.8
1.7
9.1
10.0
8.0
1.5
-10.3
-12.2

10.7
21.0
8.9
7.5
-3.9
-5.6
-7.2
-21.8
-23.5

10 978.
12 165.
12 928.
13079.
12802.
12 717.
12999.
11 836.
10983.

PERCENTAGE OF TOTAL SPECIFIED DEBT,
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0
100.0

FARMERS
HOME
ADMINIS­
TRATION

ADDENDUM*

51.7
51.7
55.3
59.2
61.2
60.8
60.1
57.1
52.7

9121.
7111.
7715.
8799.
9085.
9952.
10 013.
10929.
10350.

56 6 6 .
50 7 0 .
9978.
8011.
1 5 93 3.
10 8 0 1 .
8992.
16 9 2 8 .
18 8 0 5 .

END OF YEAR

21.8
21.1
19.8
17.7
16.9
15.8
15.2
15.1
15.3

xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx
xxxxxx

MILLIONS OF DOLLARS
3275.
5009.
6376.
7629.
38 79.
1112.
292.
-9258.
-6975.

2639.
32 0 2 .
2779.
26 96.
307.
-113.
1005.
1070.
-321.

1126.
-596.
-92.
3033.
7922.
-9632.
-1859.
7986.
18 77.

89.0
55.9
30.9
22.9
2.1
-.8
6.9
6.8
-1.9

29.8
-10.5
-1.8
60.9
92.6
-30.0
-17.2
89.3
11.1

PERCENTAGE CHANGE DURING YEAR
13.9
20.3
13.3
13.1
5.9
3.0
1.8
-9.0
-8.9

10.0
.8
-.7
-2.6
.6
11.0
9.3
11.8
11.5

15.2
20.2
21.9
21.1
8.8
2.3
.6
-8.7
-15.6

36.1
30.6
21.8
12.7
-9.6
-2.9
2.9
-38.6
-98.8

TABLE 552
FARM DEBT OUTSTANDING AT REPORTING LENDING INSTITUTIONS
REAL ESTATE DEBT
END OF
QUARTER

TOTAL

INSURED
COMMERCIAL
BANKS

TOTAL

552.1

AMOUNT,

FEDERAL
LAND
BANKS

LIFE
INSURANCE
COMPANIES

------------------1
i
i
FARMERS I
1
HOM
E
I
1
ADMINIS-I 1
TRATION 1

NON- REAL-ESTATE DEBT
TOTAL

ADDENDUM:

INSURED PRODUCTION
FEDERAL
FARMERS
CREDIT
COMMERCIAL
INTERMEDI­
HOM
E
BANKS
ASSOCIA­
ATE CREDIT ADMINIS­
TIONS
BANKS
TRATION

CCC
"LOANS"

END OF QUARTER , MILLIONS OF DOLLARS

1983-Q1. . .
-Q2. . .
-Q 3.. .
-Q 4.. .

150436.
155127.
155878.
154134.

78275.
79288.
79930.
80297.

8481.
8878.
9091.
9317.

47994.
48427.
48742.
48811.

12 630.
12642.
12727.
12717.

9170.
9340.
9370.
9452.

72161.
75840.
75949.
73837.

36416.
38 574.
39 075.
39026.

19 939.
20703.
20458.
19 315.

836.
863.
916.
850.

14970.
15 7 0 0 .
15500.
14646.

19 0 8 4 .
16 0 5 5 .
12 2 0 7 .
10 8 0 1 .

1984-Q1. . .
- Q2. . .
~Q3. . .
-Q 4 ...

154571.
159412.
160533.
155796.

80644.
81507.
82105.
81746.

9660.
10010.
10193.
10186.

48834.
49116.
49340.
49103.

12549.
12561.
12622.
12444.

9600.
9820.
9950.
10013.

73928.
77905.
78428.
74050.

39178.
41259.
41522.
39599.

18862.
19643.
19696.
17925.

777.
853.
930.
875.

15110.
16150.
16 2 8 0 .
15 6 5 1 .

8806.
6525.
6474.
8942.

1985-Q1.. .
~Q2. . .
-Q3. . .
-Q4, . .

153797.
156539.
153874.
145281.

81831.
81221.
79969.
78490.

10343.
10643.
11071.
11385.

49050.
48113.
46460.
44845.

12 177.
12135.
12039.
11836.

10260.
10 3 3 0 .
10400.
10424.

71966.
75318.
73904.
66791.

38 222.
39880.
39147.
35 513.

16673.
16 762.
15 998.
14 020.

761.
726.
699.
537.

16 3 1 0 .
17 9 5 0 .
18060.
16 7 2 1 .

99 7 3 .
8808.
9812.
16 9 2 8 .

1986-Q1.. .
-Q2. . .
-Q 3 ...
-Q 4 ...

141113.
140495.
137735.
130468.

77245.
75498.
74094.
71893.

11695.
12093.
12415.
12690.

43597.
41642.
39854.
37870.

11 623.
11 313.
11 406.
10983.

10330.
10450.
10420.
10350.

63868.
64998.
63640.
58575.

33 764.
34 134.
33620.
31180.

12799.
12 655.
12 088.
10 720.

475.
368.
332.
275.

16830.
17840.
17600.
16 4 0 0 .

1 9 78 0.
17966.
15763.
18 8 0 5 .

1987-Q1. . .

124996.

70049.

13200.

35884.

10700.

10265.

54947.

28800.

9610.

207.

16330.

xxxxxxx

552.2

PERCENTAGE OF TOTAL SPECIFIED DEBT,

END OF QUARTER

1983-Q1...
-Q 2.. .
-Q3.. .
-Q4. . .

XXXXXX

xxxxxx
xxxxxx
xxxxxx

100.0
100.0
100.0
100.0

10.8
11.2
11.4
11.6

61.3
61.1
61.0
60.8

16.1
15.9
15.9
15.8

11.7
11.8
11.7
11.8

100.0
100.0
100.0
100.0

50.5
50.9
51.4
52.9

27.6
27.3
26.9
26.2

1.2
1.1
1.2
1.2

20.7
20.7
20.4
19.8

xxxxxx
xxxxxx
xxxxxx
xxxxxx

1984-Q1.. .
-Q2. . .
-Q3. . .
-Q 4 ...

xxxxxx
xxxxxx
xxxxxx
xxxxxx

100.0
100.0
100.0
100.0

12.0
12.3
12.4
12.5

60.6
60.3
60.1
60.1

15.6
15.4
15.4
15.2

11.9
12.0
12.1
12.2

100.0
100.0
100.0
100.0

53.0
53.0
52.9
53.5

25.5
25.2
25.1
24.2

1.1
1.1
1.2
1.2

20.4
20.7
20.8
21.1

xxxxxx
xxxxxx
xxxxxx
xxxxxx

1985-Q1. . .
-Q2. . .
-Q3. , .
” Q4. . .

xxxxxx
xxxxxx
xxxxxx
xxxxxx

100.0
100.0
100.0
100.0

12.6
13.1
13.8
14.5

59.9
59.2
58.1
57 . i

14.9
14.9
15.1
15.1

12.5
12.7
13.0
13.3

100.0
100.0
100.0
100.0

53.1
52.9
53.0
53.2

23.2
22.3
21.6
21.0

1.1
1.0
.9
.8

22.7
23.8
24.4
25.0

xxxxxx
xxxxxx
xxxxxx
xxxxxx

1986-Q1. . .
-Q2. . .
-Q3. . .
- Q 4 . ..

xxxxxx
xxxxxx
xxxxxx
xxxxxx

100.0
100.0
100.0
100.0

15.1
16.0
16.8
17.7

56.4
55.2
53.8
52.7

15,0
15.0
15.4
15.3

13.4
13.8
14.1
14.4

100.0
100.0
100.0
100.0

52.9
52.5
52.8
53.2

20 .0

19.5
19.0
18.3

.7
.6
.5
.5

26.4
27.4
27 .7
28.0

xxxxxx
xxxxxx
xxxxxx
xxxxxx

1987-Q1...

xxxxxx

100.0

18.8

51.2

15.3

14.7

100.0

52.4

17.5

.4

29.7

xxxxxx




31

32

TABLE 552 (CONTINUED)
FARM DEBT OUTSTANDING AT REPORTING LENDING INSTITUTIONS

END OF
QUARTER

TOTAL
TOTAL

552.3

INSURED
COMMERCIAL
BANKS

FEDERAL
LAND
BANKS

CHANGE FROM PREVIOUS YEAR,

ADDENDUM:

, NON- REAL-ESTATE DEBT

REAL ESTATE DEBT
LIFE
INSURANCE
COMPANIES

FARMERS
HOM
E
ADMINIS­
TRATION

TOTAL

FEDERAL
FARMERS
INSURED PRODUCTION
INTERMEDI­
HOM
E
COMMERCIAL CREDIT
ASSOCIA­
ATE CREDIT ADMINIS­
BANKS
BANKS
TIONS
TRATION

CCC
"LOANS'*

MILLIONS OF DOLLARS

1983-Q1. . .
- Q2. . .
- Q 3 . ..
-Q9. . .

5165.
3932.
2121.
3927 .

2877 .
2399.
2119.
2319.

125.
398.
590.
925.

2716.
1861 .
1953.
1112.

-395.
-325.
-179.
-85.

3 8 0.
910.
3 0 0.
367 .

2289.
10 8 8 .
7.
1608.

3137.
2822.
2065.
28 98.

-1018.
-1529.
-1786.
-1157 .

-31 .
-75.
-91.
-21 .

200.
-130.
-230.
-113.

7979.
6175.
18 0 2 .
-9632.

1989-Q1. . .
"Q2. . .
- Q 3 . ..
- Q9. . .

9135.
9285.
9659.
1662.

2368.
2219.
2175.
1999.

11 7 9 .
1132.
1102.
869.

890.
689 .
598.
292.

- 81 .
-81 .
-105.
-273.

930.
980.
58 0 .
561 .

1767 .
2066 .
2979.
213.

2762.
2685.
2997 .
573.

-1076.
-1060 .
-763.
-1390.

-59.
-10.
15.
25.

19 0.
950 .
780.
1 0 05 .

-10278.
-9530.
-5733.
-1859.

1985-Q1. . .
- Q2. . .
-Q3. . .
-Q9. . .

-779.
-2873.
-6659.
-10515.

1187 .
-286 .
-2135.
-3256.

683.
633.
878.
1199.

216.
-1003.
-2880.
-9258.

-372.
-926 .
-583.
-608.

660.
510.
950.
911 .

-1961.
-2587.
-9529.
-7259.

-956 .
-1379.
-2375.
-9086.

-2189.
-2881.
-3698.
-3905.

-16 .
-127 .
-231 .
-338.

1200 .
1 8 00 .
1780 .
10 70 .

1168 .
2283.
3338.
7986.

1986-Q1. . .
- Q2. . .
-Q3. . .
- Q9. . . i

-12689.
-16093.
-16139.
-19813.

-9586 .
-5723.
-5875.
-6597.

1352.
1950.
1399.
13 0 5 .

-5959.
-6971.
-6606.
-6975.

-559.
-822.
-633.
-853.

70.
12 0.
20.
-79.

-8098.
-10321.
-10269.
-8216.

-9958.
-5796.
-5527.
-9333.

-3879.
-9107.
-3910.
-3300.

-286.
-358.
-367 .
-262.

5 2 0.
-110.
-960.
-321 .

9807.
9157 .
5951 .
1877 .

1987-Q1.. .

-16117 .

-7196.

1505.

-7713.

-923.

-65.

-8921.

-9969.

-3188.

-268.

-500.

x*xxxxx

i

552.9

PERCENTAGE CHANGE FROM PREVIOUS YEAR

1983-Q1. . .
- Q 2 . ..
- Q 3 . ..
-Q9. . .

3.6
2.3
1.9
2.6

3.8
3.0
2.7
3.0

1.5
9.7
6.3
11.0

6.0
9.0
3.1
2.3

-2.7
-2.5
-1.9
-.7

9.3
9.6
3.3
9.0

1
1
1
I

3.3
1.5
.0
2.2

9.9
7.9
5.6
8.0

-9.9
-6.9
-8.0
-5.6

-3.6
-8.0
-9.3
-2.9

1.9
-.8
-1.5
-.8

71.8
62.5
17.3
-30.0

1989-Q1.. .
-Q2. . .
- Q 3 . ..
-Q9. . .

2.7
2.8
3.0
1.1

3.0
2.8
2.7
1.8

13.9
12.8
12.1
9.3

1.7
1.9
1.2
.6

-.6
-.6
-.8
-2.1

9.7
5.1
6.2
5.9

1
1
I
1

2.9
2.7
3.3
.3

7.6
7.0
6.3
1.5

-5.9
-5.1
-3.7
-7.2

-7.1
-1.1
1.6
2.9

.9
2.9
5.0
6.9

-53.9
-59.9
-97.0
-17.2

1985-Q1...
*~Q2. . .
- Q 3 ...
-Q9.. .

-.5
-1.8
-9.1
-6.7

1.5
-.9
-2.6
-9.0

7.1
6.3
8.6
11.8

.9
-2.0
-5.8
-8.7

-3.0
-3.9
-9.6
-9.9

6.9
5.2
9.5
9.1

1
I
I
I

“ 2.7
-3.3
-5.8
-9.8

-2.9
-3.3
-5.7
-10.3

-11.6
-19.7
-18.8
-21.8

-2.1
-19.9
-29.8
-38.6

7.9
11.1
10.9
6.8

13.3
35.0
51.6
89.3

I
I
I
|

-8.2
-10.2
-10.5
-10.2

-5.6
-7.0
-7.3
-8.9

13.1
13.6
12.1
11.5

-11.1
-13.9
-19.2
-15.6

-9.6
-6.8
-5.3
-7.2

.7
1.2
.2
-.7

I
I
I
I

-11.3
-13.7
-13.9
-12.3

-11.7
-19.9
-19.1
-12.2

-23.2
-29.5
-29.9
-23.5

-37.5
-99.3
-52.5
-98.8

3.2
-.6
-2.5
-1.9

98.3
109.0
60.7
11.1

1987-Q1... 1

-11.4

-9.3

12.9

-17.7

-7.9

-.6

I

-19.0

-19.7

-29.9

-56.9

-3.0

XXXXXX

1986-Q1...
-Q2. . .
-Q3. . .
- Q 9 . ..

j

!

I

J__________ 1



TABLE 552 (CONTINUED)
FARM DEBT OUTSTANDING AT REPORTING LENDING INSTITUTIONS
NON- REAL-ESTATE: DEBT

REAL ESTATE DEBT
END OF
QUARTER

TOTAL
TOTAL

552.5

INSURED
COMMERCIAL
BANKS

FEDERAL
LAND
BANKS

LIFE
INSURANCE
COMPANIES

FARMERS |
HOM
E
|
ADMINIS­
TRATION

TOTAL

ADDENDUM:

FEDERAL
INSURED PRODUCTION
FARMERS
INTERMEDI­
HOM
E
COMMERCIAL CREDIT
ATE CREDIT ADMINIS­
ASSOCIA­
BANKS
BANKS
TIONS
TRATION

CCC
"LOANS"

CHANGE DURING QUARTER, MILLIONS OF DOLLARS

1983-Q1...
- Q 2 . ..
-Q3. . .
-Q4. . .

229.
4691.
751,
-1744.

297.
1012.
642.
367.

89.
397.
213.
226.

295.
433.
314.
69.

-172.
12 .
85.
-10.

85.
17 0 .
30.
82.

-69.
3679.
1 0 9.
-2112.

288.
2158.
501.
-49.

-533.
764.
-244.
-1143.

-35.
27 .
53 .
-66.

211.
730.
-200.
-854.

3651 .
-3029.
-3848.
-1406.

1984-Q1...
- Q 2 . ..
-Q3. . .
-Q4. . .

437.
4841.
1121.
-4737.

347.
863.
598.
-359.

343.
350.
183.
-7.

23.
282.
224.
-237.

-168.
11.
61.
-178.

148.
22 0 .
13 0 .
63.

91.
3978.
523.
-4378.

152.
2081.
263.
-1923.

-453.
781.
53.
-1771.

-73.
76.
77 .
-55.

46 4 .
10 40 .
1 3 0.
-629.

-1995.
-2280.
-51.
2468.

1985-Q1...
- Q 2 ...
-Q 3 ...
-Q4. . .

-1999.
2742.
-2665.
-8593.

85.
-610.
-1251.
-1479,

157 ,
300.
428.
314.

-53.
-938.
-1653.
-1615.

-267.
-43.
-96.
-203.

247.
70.
70.
24.

-2084.
3352.
-1414.
-7113.

-1377.
16 5 8 .
-733.
-3634.

-1252.
89.
-764.
-1978,

-114.
-35.
-27.
-162.

659.
1 6 40 .
110.
-1339,

1032 .
-1165.
1 0 04 .
7116 .

1986-Q1. . .
-Q 2 ...
-Q 3 ...
- Q 4 ...

-4168.
-618.
-2761.
-7267,

-1245.
-1747.
-1403.
-2201.

310.
398.
322.
275.

-1248.
-1955.
-1788.
-1984.

-213.
-310.
92.
-423.

-94.
12 0.
-30.
-70.

-2923.
1129.
-1357.
-5065.

-1749.
370.
-514.
-2440.

-1221.
-144.
-567 .
-1368.

-62.
-107.
-36 .
-57.

109.
10 10 .
-240.
-1200.

28 52 .
-1815.
-2202.
30 42 .

1 9 8 7 -Q i...

-5472.

-1844.

510.

-1986.

-283.

-85.

-3628.

-2380.

-1110.

-68.

-70.

x x xx kx x

552.6

PERCENTAGE CHANGE DURING QUARTER
1
1

1983-Q1...
-Q 2 ...
- Q 3 ...
-Q4. . .

,2
3.1
.5
-1.1

.4
1.3
.8
.5

1.1
4.7
2.4
2.5

.6
.9
.6
.1

-1.3
.1
.7
-.1

.9
1.9
.3
.9

-.1
5.1
.1
-2.8

.8
5.9
1.3
-.1

-2.6
3.8
-1.2
-5.6

-4.0
3.2
6.1
-7.2

1.4
4.9
-1.3
-5.5

19S4-Q1...
- Q 2 . ..
- Q 3 ...
-Q4. . .

.3
3.1
.7
-3.0

.4
1.1
.7
-.4

3.7
3.6
1.8
-.1

.0
.6
.5
-.5

-1.3
.1
.5
-1.4

1.6
2.3
1.3
.6

.1
5.4
.7
-5.6

.4
5.3
.6
-4.6

-2.3
4.1
.3
-9.0

-8.6
9.8
9.0
-5.9

3.2
6.9
.8
-3.9

-18.5
-25.9
-.8
38.1

1985-Q1...
- Q 2 . ..
- Q 3 ...
-Q 4 ...

-1.3
1.8
-1.7
-5.6

.1
-.7
-1.5
-1.8

1.5
2.9
4.0
2.8

-.1
-1.9
-3.4
-3.5

-2.1
-.3
-.8
-1.7

2.5
.7
.7
.2

-2.8
4.7
-1.9
-9.6

-3.5
4.3
-1.8
-9.3

-7.0
.5
-4.6
-12.4

-13.0
-4.6
-3.7
-23.2

4.2
10.1
.6
-7.4

11.5
-11.7
11.4
72.5

1986-Q1...
- Q 2 . ..
- Q 3 . ..
- Q 4 . ..

-2.9
-.4
-2.0
-5.3

-1.6
-2.3
-1.9
-3.0

2.7
3.4
2.7
2.2

-2.8
-4.5
-4.3
-5.0

-1.8
-2.7
.8
-3.7

-.9
1.2
-.3
-.7

-4.4
1.8
-2.1
-8.0

-4.9
1.1
-1.5
-7.3

-8.7
-1.1
-4.5
-11.3

-11.5
-22.5
-9.9
-17.2

.7
6.0
-1.3
-6.8

16.8
-9.2
-12.3
19.3

1987-QI. . .

-4.2

-2.6

4.0

-5.2

-2.6

-.8

-6.2

-7.6

-10.4

-24.7

-.4

xxxxxx




23.7
-15.9
-24.0
-11.5

33

34

AMOUNT AND CHARACTERISTICS OF FARM LOANS MADE BY COMMERCIAL BANKS

Estimates from the quarterly survey of non-real-estate farm loans
621
622
623
624
625
626

Amount..............................................
Number..............................................
Average size......................
Average maturity.....................................
Average effective interest rate.............
Percentage of loans with a floating interest rate....

35
36
37
38
39
40

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 each quarter now averages about 2,000. 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
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 results results from each quarterly survey are published 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. Starting
with the August 1986 survey, farm loans secured by real estate are included in the data shown in
Statistical Release E.2, whereas such loans are excluded from the tabulations presented here.




ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 621
AMOUNT OF LOANS MADE (BILLIONS OF DOLLARS)*
PURPOSE OF LOAN
PERIOD

ALL LOANS
FEEDER
LIVESTOCK
621.1

OTHER
LIVESTOCK

OTHER
CURRENT
OPERATING
EXPENSES

SIZE OF LOAN
(THOUSANDS OF DOLLARS)

FARM
MACHINERY
AND
EQUIPMENT

OTHER

1 TO
9

10 TO
24

25 TO
99

SIZE OF BANK
100
AND
OVER

LARGE

OTHER

ANNUAL AMOUNT OF LOANS MADE

1977 ..................
1 9 7 8 ..................
1 9 7 9 ..................

43.
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 .

11 .
12.
11 .

32.
34.
42.

1 9 8 0 ..................
1 9 8 1 ..................
1 9 8 2 ............... .
1 9 8 3 ..................
1 9 8 4 ..................
1 9 8 5 ..................
1986 ..................

60.
61 .
66 .
67.
61 .
52.
48.

16.
13 .
14 .
12.
11.
9.
10.

5.
4.
4.
6.
6.
5.
5.

24.
27.
28.
31.
27 .
23.
23.

5.
5.
5.
6.
4.
4.
2.

10.
11.
13.
12 .
12.
11.
8.

8.
8.
8.
8.
9.
7.
* 6.

10.
9.
10.
9.
8.
7.
7.

18 .
18.
18.
18.
18.
13 .
13 .

24.
25.
30.
32.
26 .
24.
22.

12.
13.
22 .
19.
16.
15.
13.

48.
48 .
44.
49.
45.
37.
36.

621.2

1
I
1

AMOUNT OF LOANS MADE DURING FIRST FULL WEEK OF SECOND MONTH OF QUARTER (SEASONALLY-■ADJUSTED ANNUAL 1
RATE)

1 9 8 1 - Q 2 ..........
- Q 3 ..........
- Q 4 ..........

66.
58.
62.

16 .
17.
9.

5.
4.
4.

30.
26.
27.

6.
5.
4.

9.
6.
19.

9.
8.
8.

11.
9.
9.

19.
17 .
17 .

25.
24.
29.

12.
15.
15.

56 .
42.
47 .

1 9 8 2 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 4 ..........

67.
56.
77 .
68.

13.
10.
15 .
15.

4.
4.
5.
5.

30.
25.
30.
28.

6.
5.
3.
6.

12.
12.
21 .
12.

8.
8.
8.
8.

9.
10.
10 .
10 .

19 .
17.
19.
19.

32 .
20.
43.
31.

21 .
17 .
27.
22.

44.
41 .
49.
46.

1 9 8 3 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 4 ..........

63.
76 .
52.
74.

10.
11 .
13.
13.

6.
4.
4.
10.

29.
37.
26.
32.

4.
8.
4.
7.

13.
15.
6.
10.

9.
9.
8.
7.

10.
9.
9.
8.

16.
19 .
18.
17.

29.
37.
18 .
44.

11.
30.
14.
20 .

51.
49.
38 .
54.

1 9 8 4 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 4 ..........

71.
60.
60.
53.

17.
11 .
7.
8.

6.
5.
9.
7.

31.
27.
26.
20.

5.
4.
5.
4.

11.
12 .
14.
12 .

9.
9.
9.
9.

9.
8.
7.
8.

21.
16.
17 .
17.

32.
26.
27.
21.

20.
16.
15.
12.

50.
45.
44.
41.

1 9 8 5 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 4 ..........

54.
56.
50.
48.

8.
13.
7.
7.

4.
7.
6.
4.

22.
22.
23.
23.

6.
5.
4.
4.

14 .
10 .
11 .
11 .

7.
8.
7.
7.

7.
9.
7.
7.

16.
14 .
12.
12 .

24.
24.
26.
23.

13.
17.
14.
16.

41 .
40.
37 .
32.

1 9 8 6 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 4 ..........

49.
51 .
46 .
48.

9.
9.
14.
11.

7.
5.
3.
3.

21 .
25.
21.
26 .

3.
3.
3.
1.

8.
10.
7.
6.

6.
6.
7.
5.

6.
7.
8.
6.

12.
13.
15.
13 .

24.
24.
15.
24.

13.
12.
11.
13.

35 .
39.
34.
35.

1 9 8 7 - Q 1 ..........
- Q 2 ..........

47.
38.

8.
10.

4.
3.

25 .
19.

2.
2.

8.
5.

6.
6.

7.
7.

11 .
11.

23.
15.

16 .
11 .

30.
27 .

i

* LOANS UNDER $ 1 , 0 0 0 ARE NOT INCLUDED IN THE SURVEY.
MOST "LARGE" BANKS (SURVEY STRATA 1 TO 3)




NOW HAVE ASSETS OVER $500 MILLION,

AND MOST "OTHER" BANKS HAVE LOWER TOTAL ASSETS.

36

ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 622
NUMBER OF LOANS MADE (THOUSANDS)*
PURPOSE OF LOAN
PERIOD

ALL LOANS
FEEDER
LIVESTOCK
622.1

OTHER
LIVESTOCK

OTHER
CURRENT
OPERATING
EXPENSES

FARM
MACHINERY
AND
EQUIPMENT

SIZE OF LOAN
(THOUSANDS OF DOLLARS)________
100
AND
25 TO
1 TO
10 TO
OVER
99
9
24

OTHER

SIZE OF BANK
LARGE

OTHER

ANNUAL NUMBER OF LOANS MADE

1977 ..................
1 9 7 8 . .............
1 9 7 9 ..................

3428.
3346.
3418.

435.
602.
520.

397.
316.
308.

1629.
1596.
1745.

503.
430.
429.

456.
389.
412.

2522.
2357.
2372.

575.
598.
591.

286.
328.
371.

45.
64.
83.

1 8 8.
194.
1 8 1.

32 4 1 .
3152 .
3 2 37 .

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 9 8 6 .......... , .

3401.
3386.
3301 .
3412.
3443.
2963.
2547 .

499.
389.
328.
373.
336.
335.
296.

291.
260.
257.
322.
295.
231.
175.

1756 .
2012.
2061.
2003.
2060.
1767 .
1657 .

451.
381.
305.
39 0 .
355.
358.
174.

39 4 .
337.
345.
3 1 9.
352.
267 .
244.

22 27.
2228.
2140.
2319.
2417.
2060.
1708.

663.
645.
673.
604.
532.
513.
465.

412.
413.
396.
379.
403.
296.
294.

99.
99.
92.
110.
91.
94.
79.

180.
17 5.
222.
203.
17 9.
18 1 .
202.

32 2 2 .
3211 .
30 7 8 .
32 10 .
32 6 4 .
2781.
2344.

622.2

NUMBER OF LOANS MADE DURING FIRST FULL WEEK OF SECOND MONTH OF QUARTER ( SEASONALLY-•ADJUSTED ANNUAL RATE)

1 9 8 1 - Q 2 ..........
-Q3. . . . - i
- Q 4 ------ -- ]

3627.
3220.
3363.

470.
382.
343.

281.
217.
297.

2047 .
1927.
1978.

476.
391.
357.

310.
283.
427.

2284.
2166.
2294.

722.
615.
598.

449.
366.
402.

116.
66.
114.

165.
1 6 6.
183.

3462.
3063.
3184.

1 9 8 2 - Q 1 --------- Q 2 ..........
-Q 3.....1
-Q4. . . .

3 ; 59.
3278.
3341.
3420.

307.
257 .
339.
382.

188.
244.
317.
290.

2130.
2011.
1970.
2164.

298.
332.
278.
299.

275.
385.
3 7 9.
3 4 2.

2039.
2105.
2182.
2226.

626.
678.
669.
708.

408.
366 .
39 3 .
419.

10 0 .
83.
106.
87.

212.
230.
224.
221.

2934.
30 5 1 .
31 2 5 .
3201.

J983-Q1. . . . .
- Q 2 .......... I
Q 3 ------ !
•-Q4 . . . . . . I

3589.
3615.
3325.
3091.

331.
389.
357.
394.

334.
296 .
259.
394.

2117.
2143.
2047.
1624.

369.
422.
347.
409.

436.
378.
239.
211

2485.
2467 .
2251.
2037 .

644.
605.
628.
550.

355.
39 5 .
386.
378.

123.
1 0 8.
62.
13 9 .

178.
239.
222.
1 6 3.

33 9 6 .
33 78 .
3120.
2922.

1 9 8 4 - Q 1 .......... I
- Q 2 .......... I
- Q 3 .......... 1
- Q 4 .......... 1

3561.
33 49.
3554.
3335.

409.
368.
317.
280.

341.
276.
314.
257.

2223.
2046.
2106.
1844.

314.
282.
450.
376.

272.
383.
264.
485.

2371.
2336.
25 68.
2394.

607.
508.
498.
524.

490.
373.
389.
36 6 .

98.
105.
89.
68.

19 4.
1 8 1.
17 4 .
1 6 6.

3353.
3165.
3412.
3154.

1 9 8 5 - Q 1 .......... 1
- Q 2 ..........
- Q 3 .......... j
- Q 4 ..........

3002.
3216 .
2714.
2869.

256.
482.
251.
334.

263.
272.
211.
170.

1705.
1933.
1649.
1741.

397.
345.
229.
431 .

349.
234.
270.
217.

2067.
2182.
1926.
2043.

502.
588.
443.
492.

34 5 .
316 .
259.
257 .

95.
99.
103.
83.

16 9.
17 3.
18 1 .
201.

2824.
30 3 2 .
2568.
2649.

1 9 8 6 - Q 1 ..........
“ Q 2 ..........
- Q 3 ..........
- Q 4 ..........

2568.
2544.
2804.
2267 .

334.
254.
304.
299.

1 7 8.
188.
16 8 .
1 6 3.

1692.
1642.
1748.
1522.

153.
202.
225.
135.

232.
277 .
229.
233.

1776.
1650.
1922.
1474.

436.
488.
525.
416 .

280.
298.
323.
282.

80.
81.
70.
85.

19 1.
205.
201.
211 .

2370.
2330.
2643.
2039.

1 9 8 7 - Q i ..........
- Q 2 ..........

2357.
2282.

348.
392.

14 7 .
1 0 0.

1521.
1490.

1 3 1.
1 5 2.

223.
1 8 0.

1577.
1501.

480.
454.

231.
248.

74.
56.

200.
1 7 7.

2151.
2095.

* LOANS UNDER $ 1 , 0 0 0 ARE NOT INCLUDED IN THE SURVEY.




I

ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 623
AVERAGE SIZE OF LOANS MADE (THOUSANDS OF DOLLARS)*
PURPOSE OF LOAN
PERIOD

ALL LOANS
FEEDER
LIVESTOCK
623.1

OTHER
LIVESTOCK

OTHER
CURRENT
OPERATING
EXPENSES

FARM
MACHINERY
AND
EQUIPMENT

OTHER

SIZE OF LOAN
_______(THOUSANDS OF DOLLARS)________
100
AND
10 TO
25 TO
1 TO
9
99
OVER
29

SIZE OF BANK
LARGE

OTHER

1

ANNUAL AVERAGE SIZE OF LOANS MADE

1977 ..................
1 9 7 8 ..................
1 9 7 9 ..................

13.
19.
15.

22.
22.
32.

13.
12 .
16 .

10.
11.
11.

9.
10.
10.

18.
20.
19.

9.
9.
9.

15.
15.
19.

99.
91.
97 .

297.
296.
220.

61.
63.
61.

10 .
11 .
13.

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

18.
18.
20.
20.
18.
18.
19.

32.
33.
91.
32.
32.
26.
35.

16.
17.
17.
18.
22.
23.
26.

19.
19.
19.
16.
13.
13.
19.

11.
12.
18 .
16 .
12.
12.
19.

26 .
39.
39.
37.
35.
92.
33.

9.
9.
9.
9.
9.
9.
9.

15.
15 .
15 .
15.
15.
19.
15.

99.
99.
96.
96.
99.
96 .
95.

239.
255.
326.
299.
291.
255.
280.

66 .
73.
98.
92.
88.
82.
62.

15.
15.
19.
15.
19.
13.
15.

623.2

|
!
I
|

AVERAGE SIZE OF LOANS MADE DURING FIRST FULL MEEK OF SECOND MONTH OF QUARTER

1 9 8 1 - Q 2 .......... I
- Q 3 .......... i
- Q 9 .......... I

18.
16.
20.

39.
93.
27.

21.
17.
15.

19.
12.
19.

13.
10.
11.

39.
18.
95.

9.
9.
9.

15.
15.
19.

99.
95.
93.

238.
383.
296.

68.
86.
85.

16.
12 .
16 .

1 9 8 2 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

22.
17.
21.
21.

93.
38.
91.
93.

19.
17.
15.
19.

17.
12.
19.
12.

18 .
17 .
9.
22.

95.
35.
93.
33.

9.
9.
3.
9.

15.
19.
15.
15.

96.
96.
96.
96.

296.
263.
925.
393.

111.
72.
111.
103.

15.
13.
19.
15.

1 9 8 3 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

19.
21.
19.
25.

30.
29.
33.
36.

15.
19.
15.
26.

16.
17.
11.
19.

10.
22.
11.
17 .

32.
97.
20.
96.

9.
9.
3.
9.

15.
15.
19.
15.

96.
99.
95.
95.

218.
359.
306.
305.

71.
11 7 .
56.
121.

16 .
15.
11.
20.

1 9 8 9 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

22.
18.
19.
17.

99.
30.
18.
32.

15
20.
29.
27.

17.
13.
10.
11.

13.
16.
11.
11.

96.
37.
90.
23.

9.
9.
9.
9.

19.
15.
15.
15.

99.
92.
92.
97.

311.
259.
316.
295.

119.
89.
77.
69.

16.
19.
11.
19.

1 9 8 5 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 9 ..........

20.
18 .
16 .
17.

31.
27.
20.
29.

15 .
28.
27 .
22.

16.
11.
11.
13.

12 .
16.
18.
8.

93.
99.
30.
96.

3.
9.
3.
9.

19.
15.
15.
19.

96.
95.
99.
98.

259.
292.
257.
279.

92.
93.
63.
79.

15.
13.
12.
12.

1 9 5 6 - Q 1 ..........
-Q2. . . . .
- Q 3 ..........
- Q 9 ..........

21.
21.
13.
21.

29.
36.
39.
90.

37.
25.
19.
19.

16.
15.
9
17.

16.
16.
13.
9.

38.
95.
21.
23.

9.
9.
3.
9.

15.
15.
15.
15.

92.
93.
98.
98.

300.
296.
218.
278.

87.
58.
97.
59.

16.
17 .
11 .
18.

1 9 8 7 - Q 1 ..........
- Q 2 ..........

23.
17.

29.
28.

23.
32.

20.
12.

19.
13 .

93.
39.

9.
9.

15.
19.

97.
99.

322.
257 .

1 0 2.
63.

15.
13.

* LOANS UNDER $ 1 , 0 0 0 ARE NOT INCLUDED IN THE SURVEY.




1
1
1
!

1

37

38

ESTIMATES FROM THE QUARTERLY SAMPLE SURVET OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 624

AVERAGE MATURITY OF LOANS MADE (MONTHS)*
OF LOAN
SIZE i
_______(THOUSANDS OF DOLLARS,!

PURPOSE OF LOAN
PERIOD

ALL LOANS
FEEDER
LIVESTOCK
624.1

OTHER
LIVESTOCK

OTHER
FARM
CURRENT
MACHINERY
OPERATING
AND
EXPENSES___EQUIPMENT __

OTHER

|

SIZE OF BANK

1 TO
9

10 TO
24

25 TO
99

100
AND
OVER

LARGE

OTHER

ANNUAL AVERAGE MATURITY OF LOANS MADE

1 9 / 7 . ...............
1 9 7 8 ------ . . . .
1 9 7 9 ..................

9.
8.
7.

6.
6.
6.

10.
6.
7.

6.
7.
6.

14 .
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 . . . . ____
1981 . . . -----1 9 8 2 ............... ..
1 9 8 3 .......... ..
1 9 8 4 ..................
1 9 8 5 ____ _ . .
1 9 8 6 ..................

-r
6.
6.
9.
8.
8.
8.

6.
6.
5.
5.
5.
6.
6.

7.
6.
7.
8.
7.
8.
6.

7.
6.
7.
10.
8.
7.
8.

14.
11.
8.
11 .
13.
14.
21.

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

7.
6.
6.
7.
7.
7.
7.

7.
6.
7.
8.
8.
8.
8.

7.
6.
7.
8.
8.
9.
10.

8.
6.
6.
10.
8.
8.
7.

7.
5.
6.
6.
7.
7.
5.

7.
6.
7.
10.
8.
8.
9.

624.2

AVERAGE MATURITY OF LOANS MADE DURING FIRST FULL WEEK OF SECOND MONTH OF QUARTER
13.
12.
7.

6.
4.
5.

7.
6.
6.

6.
5.
7.

6.
6.
6.

7.
4.
5.

7.
4.
5.

7.
5.
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.

7.
9.
5.
5.

6.
9.
5.
4.

8.
7.
6.
7.

12.
6.
7.
7.

11 .
14 .
6.
7.

14 .
10.
16.
8.

7.
6.
11 .
10.

8.
7.
7.
6.

9.
9.
6.
8.

10.
8.
8.
7.

11.
13.
8.
7.

7.
7.
7.
4.

10.
13.
8.
8.

4.
5.
6.
5.

9.
6.
4.
8.

8.
9.
8.
6.

19.
13.
9.
10.

12.
9.
5.
6.

9.
7.
6.
6.

10 .
7.
6.
6.

9.
9.
7.
7.

8.
9.
8.
6.

5.
7.
12.
5.

10.
9.
6.
7.

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.

5.
5.
7.
11.

8.
10.
8.
7.

1 9 8 6 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 4 ..........

9.
9.
7.
6.

7.
6.
5.
6.

5.
7.
5.
9.

10 .
8.
6.
6.

12 .
43.
13 .
10.

10.
10.
9.
5.

8.
8.
6.
6.

8.
9.
7.
7.

15.
11.
8.
7.

7.
9.
6.
6.

4.
6.
6.
6.

11.
10.
7.
6.

1 9 8 7 - Q 1 ..........
- Q 2 ..........

8.
11.

6.
6.

7.
9.

8.
9.

19.
30.

14.
26.

8.
8.

8.
9.

10 .
12 .

8.
14 .

8.
7.

8.
12 .

1 9 8 1 - Q 2 ..........
- Q 3 ..........
- Q 4 ..........

7.
5.
6.

5.
4.
6.

8.
5.
6.

6.
4.
5.

1 9 8 2 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 4 ..........

7.
8.
5.
6.

4.
5.
7.
5.

8.
10.
4.
6.

1 9 8 3 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 4 ..........

10 .
11.
7.
7.

5.
5.
7.
5.

1 9 8 4 - Q 1 ..........
- Q 2 ..........
“ Q 3 ..........
~ Q4 ..........

9.
8.
7.
6.

1 9 8 5 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
- Q 4 ..........

* AVERAGE MATURITY OF NONDEMAND LOANS,




-

WITH EACH LOAN WEIGHTED BY ITS DOLLAR AMOUNT.

ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF DANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 625
AVERAGE EFFECTIVE INTEREST RATE ON LOANS MADE (PERCENT)*
PURPOSE OF LOAN
PERIOD

ALL LOANS 1

625.1

FEEDER
LIVESTOCK

OTHER
LIVESTOCK

OTHER
CURRENT
OPERATING
EXPENSES

SIZE OF LOAN
(THOUSANDS OF DOLLARS)

FARM
MACHINERY
AND
EQUIPMENT

OTHER

SIZE OF BANK

1 TO
9

10 TO
24

25 TO
99

100
AND
OVER

LARGE

OTHER

ANNUAL AVERAGE EFFECTIVE INTEREST RATE ON LOANS MADE

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

8.8
9.6
11.9

8.6
9.7
12.1

8.7
9.8
11.7

8.9
9.5
11.8

9.2
9.6
11.2

8.9
9.7
12.1

9.1
9.4
11.1

8.9
9.4
11.4

8.8
9.5
11.5

8.6
9.9
12.8

8.5
10.2
13.6

9.0
9.4
11.4

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 9 8 6 ..................

15.2
18.5
16.7
13.5
14.1
12.8
11.5

15.6
18.6
15.9
13.6
13.7
12.5
11.1

14.6
18.4
16.3
13.8
14.3
12.7
11.9

15.3
18.4
16.9
13.5
14.2
13.0
11.5

14.4
17.9
17.1
14.3
14.6
13.7
12.2

15.3
18.6
16.9
12.8
14.0
12.1
11.2

14.7
18.0
17.0
14.2
14.6
13.7
12.4

14.7
18.2
16.8
14.1
14.3
13.2
12.0

14.9
18.2
17.0
14.0
14.3
13.2
11.8

15.9
18.9
16.4
13 0
13! 7
12.1
10.8

16.2
19.8
16.1
12 1
13! 1
11.2
9.6

15.0
18.1
17.0
14 1
14.4
13.4
12.1

625.2

AVERAGE EFFECTIVE INTEREST RATE ON LOANS MADE DURING FIRST FULL WEEK OF SECOND MONTH OF QUARTER

1 9 8 1 - Q 2 ..........
- Q 3 ..........
- Q 4 ..........

17.9
19.6
18.8

18.4
19.6
18.5

18.0
19.9
18.7

17.7
19.5
18.9

17.6
18.9
18.1

17.7
20.1
18.9

17.5
18.8
18.5

17.6
19.1
18.8

17.7
19.3
18.5

18.2
20.3
19.0

19.5
20.8
18.9

17.5
19.1
18.7

1 9 8 2 - Q 1 ..........
“ Q 2 ..........
- Q 3 ..........
- Q 4 ..........

17.7
17.8
16.7
14.7

17.6
17.8
16.8
13.8

17.4
17.5
15.5
15.4

17.7
17.7
16.8
15.3

17.9
18.2
17.3
15.7

17.9
17.9
16.9
14.5

17.7
17 .6
17.4
15.6

17.3
17.6
17.1
15.3

17.7
17.8
17.4
15.4

17.8
17.8
16.2
13.9

18.0
17.9
15.6
13.3

17.5
17.7
17.4
15.4

1 9 8 3 - Q 1 ..........
- Q 2 ..........
- Q 3 .......... I
- Q 4 .......... 1

13.8
13.2
13.6
13.6

13.8
13.4
13.1
14.0

14.2
13.0
14.1
13.9

14.0
13.2
13.8
13.3

14.1
14.8
14.3
13.9

13.1
12.6
13.1
12.9

14.4
14.0
14.3
14.3

14.4
13.8
14.0
14.2

14.1
14.0
13.9
13.9

13.3
12.6
12.7
13.2

12.5
12.0
12.2
11.8

14.1
13.9
14.1
14.2

1 9 8 4 - Q 1 .......... !
- Q 2 ..........
- Q 3 .......... 1
- Q 4 ..........
i
1 9 8 5 - Q l .......... I
- Q 2 .......... I
- Q 3 .......... |
-Q<*.......... 1
j
1 9 8 6 - Q 1 .......... |
-Q2. . . . . I
- Q 3 .......... 1
- Q 9 .......... 1
j
1 9 8 7 - Q 1 .......... |
- Q 2 ---------I
________________ 1

13.5
14.2
14.8
14.2

12.7
14.5
14.6
13.8

13.6
13.9
15.2
14.1

13.8
14.2
14.8
14.4

13.9
15.0
15.0
14.5

13.4
13.9
14.4
14.3

14.1
14.6
15.0
14.7

14.1
14.3
14.6
14.4

14.0
14.4
14.9
14.3

12.9
14.0
14.7
13.8

12.2
13.3
14.4
13.4

14.1
14.5
14.9
14.4

13.2
13.0
12.3
12.3

13.0
12.9
11.7
12.1

13.6
12.9
12.4
11.6

13.6
13.4
12.5
12.2

13.4
14.1
13.3
13.7

12.4
12.0
11.5
12.2

13.9
14.0
13.2
13.6

13.6
13.2
13.0
12.9

13.7
13.5
12.6
12.8

12.6
12.3
11.7
11.3

11.7
11.5
10.6
10.6

13.8
13.6
12.9
13.1

12.0
11.5
11.4
10.8

11.9
11.3
10.9
10.8

12.6
11.7
11.5
10.5

11.8
11.6
11.6
11.1

12.7
12.5
11.6
11.9

11.9
11.3
11.2
9.9

12.9
12.4
12.2
11.9

12.8
12.1
11.9
11.3

12.6
11.9
11.8
11.0

11.4
10.9
10.1
10.3

10.3
9.7
9.3
8.9

12.8
12.0
12.1
11.5

10.1
10.7

10.6
10.7

9.9
9.6

10.4
10.9

11.2
11.3

9.1
10.3

11.6
11.4

11.2
11.2

10.9
10.9

9.3
10.1

8.4
9.4

11.2
11.2

|

j
1
|
I
1

* THE APPROXIMATE COMPOUNDED ANNUAL INTEREST RATE ON EACH LOAN IS CALCULATED FROM SURVEY DATA ON THE STATED RATE AND OTHER TERMS
OF THE LOAN.
IN COMPUTING THE AVERAGE OF THESE ESTIMATED EFFECTIVE RATES, EACH LOAN IS WEIGHTED BY ITS DOLLAR AMOUNT.




39

40

ESTIMATES FROM THE QUARTERLY SAMPLE SURVEY OF BANK NON-REAL-ESTATE LOANS TO FARMERS
TABLE 626
PERCENTAGE OF LOANS MADE WITH A FLOATING INTEREST RATE*
PURPOSE OF LOAN
PERIOD

ALL LOANS
FEEDER
LIVESTOCK

!

OTHER
LIVESTOCK

_______ L
626.1
19 77. . . . . . . .
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 ..................
1986 ____ . . . .

17.
17.
17 .

FARM
MACHINERY
AND
EQUIPMENT

OTHER

1 TO
9

10 TO
24

25 TO
99

100
AND
OVER

LARGE

OTHER

ANNUAL PERCENTAGE OF LOANS MADE WITH A FLOATING INTEREST RATE
i
r

22.
29.
39.
43.
39.
45.
53.
_______________ 1
L
626.2

OTHER
CURRENT
OPERATING
___ EXPENSES

SIZE OF BANK

SIZE OF LOAN
(THOUSANDS OF DOLLARS)

28.
19.
17.

14.
20.
17.

12.
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.

20.
33.
48.
48.
41.
61.
60.

18.
22.
30.
29.
32.
45.
35.

21.
31.
43.
48.
42.
43.
57.

11
15.
15.
18.
24.
20.
31 .

33.
28.
31 .
44.
39.
47 .
51.

7.
15 .
24.
26.
24.
28.
41.

12.
18.
26 .
29.
31.
32.
42.

13.
22.
30.
35.
29.
42.
48.

37.
43.
53.
56.
53.
57.
64.

75.
80.
66.
78.
71.
77.
72.

8.
16.
26.
30.
28.
33.
47.

PERCENTAGE OF LOANS MADE WITH A FLOATING INTEREST RATE DURING FIRST FULL WEEK OF SECOND MONTH OF QUARTER

1 9 8 1 - Q 2 ..........
- Q 3 ..........
-Q 4.. .. .

23.
36.
31.

30.
33.
35.

16.
23.
31.

20.
40.
38.

12.
21.
16 .

30.
42.
27.

14.
18.
19.

13.
22.
25.

15.
24.
26.

34.
56.
41.

80.
86.
72.

11 .
16.
20.

1 9 8 2 - Q 1 ..........
~ Q2 . . . . .
~Q3 . . . .
~ Q4 ..........

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 ..........
-Q4. . . . .

43.
54.
45.
29.

57.
54.
69.
30.

26.
30.
23.
31.

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.
18.

1 9 8 4 - Q 1 ..........
- Q 2 ..........
- Q 3 ..........
-Q4. . . . .

39.
42.
35.
38 .

45.
26.
62.
42.

20.
47 .
8.
55.

34.
52.
39.
41 .

43.
32 .
12.
13.

52.
34.
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 .

1985-Q1. . . . .
- 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.
12.

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 ..........
- Q 3 ..........
- Q 4 ..........

42.
60.
54.
57.

69.
57.
70.
52.

30.
28.
56.
39.

43.
67.
48.
66.

25.
34 .
32 .
34.

30.
63.
60.
47 .

26.
44 .
49.
44.

37 .
42.
47 .
40.

52.
49.
50.
43.

43.
75.
67 .
74.

57 .
72.
82.
83.

36.
57 .
45.
47.

1 9 8 7 - Q 1 ..........
- Q 2 ..........

67.
60.

62.
55.

66.
54.

62.
59.

57 .
64.

85.
71.

43.
50.

44 .
45.

54.
57.

81 .
72.

94.
95.

49.
46.

* PERCENTAGE OF AMOUNT OF LOANS MADE.
A FLOATING RATE IS TIED TO SOME OTHER RATE (SUCH AS THE PRIME RATE OR A MARKET INTEREST
RATE), AND NEITHER THE BANK NOR THE BORROWER KNOWS THE EXACT RATE OF INTEREST TO BE CHARGED OVER THE LIFE OF THE LOAN.




FARM CREDIT CONDITIONS AT COMMERCIAL BANKS
631
632
633
634
635

Non-real-estate lending experience.................................. .......... .. 42
Expected change in non-real-estate loan volumeand repayment conditions........... 44
Average loan/deposit ratio, and otherindicatorsof relative
creditavailability... 46
Interest rates •••• ................................................................. 48
Trends in real estate values and loan volume...................................... 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 included 299 banks at which farm loans
are relatively important or which hold a major portion of bank farm loans in their region.
In 1985-Q1, the survey sample was enlarged substantially, and thus data starting in 1985 are
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 RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CO JITIONS AT COMMERCIAL BANKS
TABLE 631
FARM NON-REAL* ESTATE LENDING EXPERIENCE, COMPARED WITH A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
DEMAND FOR LOANS

LOAN REPAYMENT RATE

FUND AVAILABILITY

QUARTER
LOWER

SAME

631

SEVENTH (CHICAGO) FEDERAL RESERVE DISTRICT

1

HIGHER

LOWER

SAME

HIGHER

LOWER:

SAME

( IL*,

HIGHER

I N*,

10,

COLLATERAL REQUIRED
1
I RENEWALS OR EXTENSIONS
1
L
I LOWER SAME HIGHER
I
I LOWER SAME HIGHER
I
1
1
1 _________
1
_

MI*,

WI* )

AGRICULTURAL BANKS

1985-Q1...
-Q 2.. .
-Q3. . .
-Q4. . .

26.
29.
33.
47.

41.
37.
43.
37.

33.
34.
24.
16.

11 .
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.

1
I
1
|
1
I
1
|
1
i
1

o.
o.
0.
1.

30.
32 .
28 .
36.

70.
68.
72.
63.

1986-Q1. . .
-Q2.. .
- Q 3 ...
-Q4. . .

47.
51.
46.
51.

34.
33.
40.
37.

19.
16.
14.
i2.

4.
4.
5.
4.

41.
41.
45.
40.

55.
56.
50.
56.

36.
26.
26.
21 .

47.
63.
61.
50.

17.
11.
13.
29.

16 .
11 .
12 .
22.

50.
60.
61.
55.

34.
29.
27.
23.

|
1
I
1
I
|
1
1

0.
0.
0.
0.

33.
35.
39.
42.

67.
65.
61.
58 .

1987-Q1...

47.

35.

18.

6.

39.

55.

14 .

55.

32 .

27.

56.

17.

0.

43.

57.

631.2

TENTH (KANSAS CITY)

FEDERAL RESERVE DISTRICT

( CO,

KS,

MO*,

NE,

NM*,

OK*,

W )
Y

1

1
i1
1
1

AGRICULTURAL BANKS

1985-Q1. .
-Q 2..
-Q3. .
-Q 4..

.
.
.
.

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..
-Q 2..
-Q3. .
-Q4..

.
.
.
•

37.
42.
39.
42.

48.
45.
47.
45.

14.
13 .
14.
13.

4.
2.
3.
4.

48.
48.
46.
43.

48.
49.
51.
54.

38.
29.
27 .
19.

51.
65.
62.
57.

11.
6.
11.
24.

8.
9.
11.
17.

57.
61.
64.
64.

35.
30.
25.
19.

2.
0.
1.
0.

28.
33.
33.
36 .

70.
67.
66 .
64.

48.

38.

14 .

5.

40.

55.

11.

54 .

35.

26.

64.

10.

0.

39.

61.

1987-Q1...

631.4

ELEVENTH (DALLAS)

FEDERAL RESERVE DISTRICT

1985-Q1. . .
~Q2. . .
- Q 3 ...
-Q4. . .

27.
29.
32.
28.

47.
52.
50.
52.

26.
19.
18.
20.

11.
10,
14.
12.

51.
54.
52.
54.

38.
36.
34.
34.

1986-Q1...
-Q 2.. .
- Q 3 ...
- Q 4 ...

35.
40.
46.
33.

42.
43.
34.
39.

23.
17 .
20.
28.

13.
12.
13.
10.

51.
54.
50.
55.

36.
34.
37.
36 .

1987-Q1. . .

34.

45.

21.

9.

52.

39.




(

LA*,

NM*,

OK*,

TX )

43.
37.
47.
48.
1

53.
54.
45.
45.

5.
9.
8.
7.

5.
10.
8.
8.

48.
53.
48.
46.

47.
38.
43.
45.

0.
0.
0.
1.

43.
43.
35 .
30.

57 .
57 .
64.
69.

50.
54.
57.
47.

44.
37.
36.
46 .

6.
9.
6.
7.

5.
3.
3.
9.

44.
42.
39.
45.

51.
55.
58.
47.

1.
1.
0.
0.

26.
22.
22.
27.

73.
77.
78.
73.

38.

49.

13.

10.

49.

41.

0.

25.

75.

TABLE 631 (CONTINUED)
FARM NON-REAL-ESTATE LENDING EXPERIENCE/ COMPARED NITH NORMAL CONDITIONS
PERCENTAGE OF BANKS REPORTING
1

DEMAND FOR LOANS

FUND AVAILABILITY

QUARTER
HIGHER

LONER

SAME

HIGHER

RENENALS OR EXTENSIONS

LOAN REPAYMENT RATE
LONER

LONER

SAME

631.3

NINTH (MINNEAPOLIS) FEDERAL RESERVE DISTRICT

SAME
( Mi x,

HIGHER
MN/ MT,

LONER
ND,

SD,

SAME

COLLATERAL REQUIRED

HIGHER

LONER

SAME

HIGHER

NIX )

1984-Q1...
-Q 2.. .
- Q 3 ...
” Q4. . .

11.
9.
23.
16.

70.
69.
63.
64.

19.
22.
14.
20.

X XX
X XX
X XX
X XX

X XX
X XX
X XX
XXX

X XX
X XX
X XX
XXX

54.
45.
50.
68.

46.
53.
46.
31.

0.
2.
4.
1.

2.
0.
3.
2.

44.
43.
45.
32.

53.
57.
52.
66.

X XX
X XX
X XX
X XX

X XX
XXX
X XX
X XX

X XX
X XX
X XX
XXX

1985-Q1...
- Q 2 ...
-Q 3.. .
-Q4. . .

12.
14.
24.
20.

58.
69.
62.
64.

30.
17.
14.
16.

X XX
X XX
X XX
X XX

XXX
XXX
XXX
X XX

X XX
X XX
X XX
XXX

60.
57.
58.
61.

40.
40.
37.
36.

0.
2.
5.
3.

1.
2.
1.
3.

32.
48.
48.
34.

67.
50.
51.
62.

X XX
X XX
X XX
X XX

X XX
X XX
XXX
X XX

XXX
XXX
XXX
X XX

1986-QI.. .
-Q2. . .
-Q3. . .
- Q 4 ...

23.
34.
27.
20.

58.
58.
63.
71.

19.
8.
10.
9.

XXX
XXX
X XX
XXX

X XX
X XX
XXX
XXX

XXX
X XX
XXX
XXX

62.
44.
30.
21.

34.
51.
65.
66.

4.
5.
6.
13.

1.
4.
5.
4.

45.
43.
61.
66.

54.
53.
34.
29.

X XX
XXX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
XXX
XXX
XXX

1987-Q1...

28.

52.

20.

XXX

XXX

XXX

14.

64.

21.

7.

73.

20.

X XX

X XX

X XX

3.
3.
13 .
3.

55.
70.
71.
71.

41.
27.
16.
26.

0.
6.
0.
0.

52.
55.
61.
52.

48.
39 .
39.
48.

3.
3.
o.
0.

67.
70.
71.
71.

30.
27.
29.
29.

3.
0.
4.
0.

37.
45.
36.
46.

60.
55.
61.
54.

29.
38.
48.
32.

68.
59.
48.
64.

FIFTH (RICHMOND) FEDERAL RESERVE DISTRICT

( MD,

NC,

SC,

VA,

NVX )

52.
70.
71.
71.

28.
19.
16.
10.

10.
3.
10.
10.

45.
61.
58.
68.

45.
36.
32.
23.

35.
18.
13.
19.

66.
79.
68.
81.

0.
3.
19.
0.

1985-QI. . .
- Q 2 ...
-Q 3...I
-Q 4 ...

33.
17.
25.
32.

47.
73.
61.
54.

20.
10.
14.
14.

0.
0.
7.
7.

73.
77.
71.
79.

27.
23.
21.
14.

27.
27.
32.
18.

73.
73.
64.
82.

0.
0.
4.
0.

1986-QI. . .
-Q2. . .
-Q3. . .
- Q 4 ...

29.
31.
33.
39.

36.
55.
56.
50.

36.
14.
11.
11.

14.
10.
4.
4.

57.
72.
73.
75.

29.
17.
22.
21.

21.
28.
30.
32.

71.
72.
67.
64.

7.
0.
4.
4.

7.
7.
11.
18.

71.
71.
56.
54.

21.
21.
33.
29.

4.
3.
4.
4.

1987-Q1. . .

35.

48.

17.

3.

72.

24.

24.

3.

21.

62.

17.

3.




1
1

oo

21.
12.
13.
19.

CM

1984-Q1. . . 1
-Q2. . . 1
-Q 3 ...
-Q 4 ... 1

^sj
IN)

631.5

69.

43

44
FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 632
FARM NON-REAL-ESTATE LOAN VOLUME EXPECTED DURING THE NEXT QUARTER, COMPARED NITH VOLUME OF LOANS MADE A YEAR EARLIER
PERCENTAGE OF BANKS REPORTING
TOTAL
END OF
QUARTER

LONER SAME HIGHER

CROP STORAGE

LONER SAME HIGHER
1

632. 1
1985-Q1..
-Q2. .
- Q3. .
- QA. .

SEVENTH (CHICAGO)

FEDERAL RESERVE DISTRICT

(

ILX,

IN* ,

10,

Mi x,

Ni x

)

1
1
1

Al.
28.
20.
26.

65.
62.
6A.
59.

31.
3A.
32 .
3A.

5.
A.
A.
7.

I
1
1
1

39.
37.
36.
A3.

38.
A9.
52.
AO.

2A.
1A.
12 .
17 .

59.
57.
A8 .
50.

32 .
38.
AA.
Al.

9.
5.
7.
9.

7.

AA.

38.

17 .

38.

51.

11.

A7 .
A8.
A6 .
AA.

23.
18.
1A.
15.

36.
A6 .
53.
AA.

57.
51.
Al.
51.

7.
3:
6.
5.

29.
33.
35.
37.

61.
61 .
61.
59.

10.
6.
5.
A.

AO.
37 .
31 .
A3.

53.
53.
A5.
A8 .

7.
11.
2A.
9.

1986-Q1. . .
- Q 2 . ..
-Q 3.. .
-Q A ...

A6 .
A3.
AO.
A7 .

Al.
A6 .
50.
Al .

13 .
11 .
10.
12.

53.
A8 .
30.
26.

A5 .
A7 .
A9 .
57.

3.
5.
21.
16 .

A9.
A7 .
36.
35.

A8 .
50.
60.
61.

3.
3.
A.
A.

38.
23.
21.
37.

55.
A3.
A3.
5A.

6.
3A.
36.
9.

1987-Q1.. .

A5.

Al .

1A.

23.

57 .

20.

27.

6 8 ‘.

5.

3A.

59.

FEDERAL RESERVE DISTRICT

1985-Q1. . .
-Q2. . .
-Q3. . .
-Q A ...

26.
27 .
29.
31.

58.
57 .
5A.
5A.

16.
16.
16 .
15.

2A.
30.
29.
25.

53.
A8.
A9.
59.

23.
22.
22.
16.

1986-Q1. . .
- Q 2 . ..
-Q 3.. .
~QA.. .

29.
33.
31.
28.

55.
A6 .
52.
56.

15.
20.
17 .
16.

38 .
32.
23.
20.

50.
51.
53.
58.

12.
17.
2A.
22.

1987-Q1. . .

2A.

65.

11 .

19.

57.

2A.

632. 5

FIFTH (RICHMOND)

1
j
I
1
I

1

1
1
1
1
1
I
1

(

LAX,

32.
33.
32.
32.

65.
63.
65.
66 .

3.
3.
A.
2.

41.
45.
29.
30.

55.v
51 .
67 .
66.

3.
A.
3.
A.

23.

71 .

6.

FEDERAL RESERVE DISTRICT

( MD,

1985-Q1... 1
- Q 2 . ..
-Q3. . .
-QA. . .

36 .
32.
25.
32.

50.
57.
6A.
5A.

1A.
11 .
11 .
1A.

22.
22.
18 .
23.

70.
65.
73.
6A.

9.
13.
9.
1A.

1
I
1
1
I

22.
27.
21.
30.

70.
65.
71.
70.

7.
8.
8.
‘ 0.

1986-Q1. . .
- Q 2 ...
- Q 3 . ..
-Q A ...

Al.
39.
35.
27 .

A8 .
57.
50.
73.

11 .
A.
15.
0.

30.
39.
30.
38.

61.
61.
60.
58.

9.
0.
10.
A.

1
1
I
1

A2.
52.
A6.
52.

58.
A8 .
A6 .
A8 .

0.
0.
9.
0.

I9 8 7 -Q 1 ...

Al.

55.

3.

30.

57 .

12.

I
1

56.

58.

A.




1

1

NM*,
1
1
I
1
1
j
1
1
1
1
1
1
1

NC,

OKX,

AGRICULTURAL BANKS
36.
A9.
AA.
AA.

30.
35.
AO.
Al.

ELEVENTH (DALLAS)

LONER SAME HIGHER

23.
23.
36.
30.

.
.
.
.

632. A

FARM MACHINERY

OPERATING
I
I
LONER SAME HIGHER i LONER SAME HIGHER
___
_
___________ 1

DAIRY

FEEDER CATTLE
______
LONER SAME HIGHER

TX )

2A.
23.
21.
2A.

63.
59.
65.
67.

13.
19.
1A.
10 .

25.
20.
2A.
28 .

Al.
52.
53.
A9.

35.
28.
2A.
23.

I
I
I
I

A2.
A l.
A6 .
51.

A3.
A6 .
A6 .
A3.

15.
13.
8.
6.

30.
30.
24.
18.

60.
52.
66.
73.

11.
18.
10.
9.

26.
31.
31.
2A.

A7.
A3.
50.
A8.

27 .
26.
19.
29.

|
|
1
!

58 .
5A.
63.
51.

35 .
AO.
33 .
39.

7.
6.
A.
10.

19.

73.

8.

22.

53.

25.

I

A6 .

AA.

10.

SC,

1

VA,

'

i
1

1
1

NVX )

1 39 .
28.
15.
40.

5A.
62.
50.
52.

7.
10.
35.
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.

28.
Al .
2A.
32.

6A.
AA.
56 .
56 .

8.
15.
20.
12.

32.
35.
22 .
18.

5A.
59.
59.
75.

1A.
7.
19 .
7.

A6 .
52.
AA.
36.

A6 .
38.
A8.
61.

7.
10.
7.
A.

1 31.
J
______

62.

8.

18.

68.

1A.

35.

55.

10.

1
1
1
j
I
1
1
1

TABLE 632 (CONTINUED)
EXPECTED FARM LOAN DEMAND AND REPAYMENT CONDITIONS
PERCENTAGE OF BANKS REPORTING
E X P E C T E D D E M A N D FOR F A R M L O ANS D U R I N G NEX T QUARTER,
C O M P A R E D W I T H NORMAL D E M A N D
END OF
QUARTER

SHORT-TERM
N O N - R E A L - E S T A T E LO A N S

INTERMEDIATE-TERM
N O N - R E A L - E S T A T E LOANS

PROPORTION OF FARM
C U S T O M E R S L O A N E D UP
TO T H E I R P R A C T I C A L
DEBT LIMIT, C O M P A R E D
WITH A YEAR EARLIER

DEBT E X T E N S I O N
OR R E F I N A N C I N G

i
1 ADVERSE CHANGE
1
E X P E C T E D IN
I FARME R S ' A B I L I T Y
1 TO R E P A Y DEBT IN
1 T H E NE X T Q U A R T E R
1

LOWER

SAME

_ ___LO N E R
HIGHER_ 1

632.3

NINTH

(MINNEAPOLIS)

1 9 7 9 - Q 1 ...
- Q 2 . ..
- Q 3 . ..
- Q 4 . ..

3.
3.
9.
17.

66.
63.
48.
54.

30.
34.
43.
30.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

8.
8.
10.
6.

76.
73.
43.
56.

17.
19.
47.
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 . ..

18.
27.
21.
45.

45.
56.
67.
46.

38.
16.
12.
9.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

9.
7.
16.
14.

38.
54.
63.
51.

53.
39.
21.
35.

3.
1.
5.
11.

40.
46.
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.
54.

16.
16.
17.
25.

36.
45.
51.
52.

59.
47.
42.
41.

4.
7.
7.
7.

7.
8.
4.
4.

60.
62.
43.
21.

33.
30.
53.
75.

4.
5.
6.
3.

63.
62.
60.
42.

32.
33.
34.
55.

1 9 8 2 - Q 1 . ..
- Q 2 . ..
- Q 3 . ..
- Q 4 . ..

13.
7.
19.
10.

60.
75.
59.
65.

27.
18.
21.
25.

52.
46.
43.
42.

37.
47.
47.
42.

11.
6.
10.
16.

4.
5.
3.
3.

26.
52.
32.
23.

70.
43.
65.
74.

2.
2.
2.
1.

37.
47.
52.
43.

62.
51.
46.
56.

55.
44.
61.
43.

1 9 8 3 - Q 1 . ..
- 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.

4.
4.
3.
4.

43.
67.
59.
51.

53.
29.
38.
45.

2.
5.
5.
9.

51.
69.
67.
62.

47.
26.
28.
29.

23.
23.
37.
24.

1 9 8 4 - Q 1 . ..
- Q 2 . ..
~ Q 3 . ..
- Q 4 . ..

6.
7.
16.
11.

71.
77.
65.
61.

23.
15.
19.
29.

23.
30.
34.
35.

63.
60.
50.
51.

14.
10.
16.
14.

1.
5.
4.
3.

56.
50.
42.
30.

43.
45.
54.
67.

4.
1.
3.
2.

63.
58.
56.
44.

33.
41.
41.
54.

31.
46.
50.
48.

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.
41.
39.

53.
49.
48.
44.

21.
13.
11.
17.

1.
2.
1.
2.

39.
51.
35.
37.

60.
47.
64.
61.

3.
2.
2.
1.

46.
55.
46.
47.

51.
43.
52.
52,

44.
59.
58.
47.

1 9 8 6 - Q 1 .,.
- Q 2 . ..
-Q3...I
- Q 4 . ..

15.
25.
25.
29.

64.
66.
65.
62.

22.
9.
10.

9.

35.
34.
29.
32.

56.
51.
57.
55.

8.
15.
14.
14.

2.
12.
6.
7.

43.
48.
50.
68.

55.
40.
44.
26.

5.
8.
13.
20.

55.
63.
69.
71.

41.
29.
18.
9.

1 9 8 7 - Q 1 . ..

19.

68.

14.

21.

69.

10.

5.

79.

16.

XXX

XXX

XXX




I
I

1
I

SAME

F EDERAL

H I G H E R _ ___L O WER
_
RESERVE DISTRICT

SAME
i(

MIX,

HIGHER
MN,

MT,

LOWER
ND,

SD,

Mix

SAME_ HIGHER
)

!
I
I
|

I

37.
32.
58.
67.

47.
42.
44.
12.
XXX

46
FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 633
AVERAGE LOAN/DEPOSIT RATIO,
1
1

QUARTER

AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT AVAILABILITY

I REFUSED OR I
I
LOAN/DEPOSIT RAT 10 I S — I REDUCED A I ACTIVELY
AVERAGE
1 FARM LOAN 1SEEKING
LOAN/DEPOSIT
RATIO
1BECAUSE OF 1 NEW
AT END OF
FARM
LOWER
AT
HIGHER A SHORTAGE
QUARTER
OF LOANABLE
LOAN
THAN
DESIRED
THAN
(PERCENT)
ACCOUNTS
DESIRED
LEVEL
FUNDS
DESIRED
633.1

SEVENTH (CHICAGO) FEDERAL RESERVE DISTRICT

(

IL*,

EXPECT PROBLEMS
NUMBER OF FARM LOAN REFERRALS TO—
IN MEETING FARM
NONBANK AGENCIES
LOAN REQUESTS I CORRESPONDENT BANKS
1
DURING THE NEXT I
1
COMPARED WITH
COMPARED WITH
QUARTER BECAUSE I
1
1
NONE A YEAR EARLIER
!
OF A SHORTAGE 1NONE| A YEAR EARLIER
OF FUNDS
1
1
1
LOWER SAME HIGHEF
1 _____ l LONER SAME HIGHER
_
1
IN* ,

10,

MI*,

WI* )

AGRICULTURAL BANKS

1985-Q1. . .
-Q 2.. .
-Q 3.. . I
-Q4. . . 1

56.
55.
55.
53.

55.
62.
62.
67.

28.
24.
25.
22.

17.
14.
14.
11 .

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

1986-Q1.. . i
- Q 2 . ..
- Q 3 . ..
- Q 4 ...

51.
51.
51 .
49.

72.
76 .
74.
80.

19.
18 .
21.
17.

8.
6.
6.
3.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

I987-Q1. . .

49.

78.

17 .

5.

XXX

XXX

XXX

XXX

XXX

XXX

XXX

XXX

XXX

XXX

XXX

633.2

TENTH (KANSAS CITY)

FEDERAL RESERVE DISTRICT

( CO , KS,

MO*,

NE,

NM*,

OK*,

NY )

AGRICULTURAL ] ANKS
B

1985-Q1...
- Q 2 . ..
- Q 3 ...
- Q 4 . ..

58.
59.
58.
55.

60.
57.
58.
61.

8.
9.
8.
12 .

32.
34.
34.
27.

9.
8.
5.
8.

32.
33.
33 .
32 .

XXX
XXX
XXX
XXX

58.
61.
66.
65.

15.
14.
17.
22.

74.
76.
75.
74.

11 .
10 .
8.
4.

21.
21.
23.
22.

4.
3.
5.
7.

34.
42.
44 .
46.

62.
55.
50.
46 .

1986-Q1. . .
- Q 2 ...
- Q 3 . ..
-Q 4 ...

53.
52.
52.
50.

66.
72.
74.
75.

11.
11 .
9.
8.

24.
18.
18.
16.

7.
4.
3.
6.

39.
38.
38.
45.

XXX
XXX
XXX
XXX

64.
68.
75.
74.

18.
21.
24.
24.

75.
74.
72.
72.

7.
4.
4.
4.

21.
30.
37.
39.

5.
9.
17.
20.

49.
57.
54.
54.

46.
34.
29.
26 .

1987-Q1...

49.

79.

9.

12.

3.

51.

XXX

77.

20.

77.

3.

41.

14.

61.

24.

633.4

ELEVENTH (DALLAS) FEDERAL RESERVE DISTRICT

( LAX,

NM*,

OK*,

TX )

1985-Q1...
- Q 2 ...
“ Q3. . .
-Q 4 ...

56.
57 .
57.
57.

52.
45.
49.
43.

41.
43.
41.
49.

7.
12 .
10 .
8.

6.
5.
6.
5.

33.
34.
31.

XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

17.
15 .
14.
15.

69.
74.
75.
74.

14.
11.
11.
11.

XXX
XXX
XXX
XXX

11 .
7.
8.
9.

50.
63.
61.
59.

39 .
30.
31.
32.

1986-QI. . .
-Q2. . .
- Q 3 . ..
- Q 4 ...

56.
57.
55.
55.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

7.
10.
6.
7.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XX*
XXX
XXX
XXX

12.
12.
12.
13.

71.
77.
76.
80.

17.
11.
12.
7.

XXX
XXX
XXX
XXX

8.
6.
6.
10.

60.
66.
65.
65.

32.
29 .
29.
25.

, 1 9 8 7 - Q1 . . .

54.

XXX

XXX

XXX

6.

XXX

XXX

XXX

11.

81.

7.

XXX

8.

74.

18.




FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 6 3 3 (CONTINUED)
AVERAGE LOAN/DEPOSIT RATIO, AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT AVAILABILITY

QUARTER

REFUSED OR
EXPECT PROBLEMS
NUMBER OF FARM LOAN REFERRALS TO—
AVERAGE
LOAN/DEPOSIT RATIO I S —
REDUCED A ACTIVELY IN MEETING FARM
LOAN/DEPOSIT
LOAN REQUESTS
FARM LOAN SEEKING
CORRESPONDENT BANKS
NONBANK AGENCIES
RATIO
DURING THE NEXT
BECAUSE OF
NEN
AT END OF
LONER
AT
HIGHER A SHORTAGE
QUARTER BECAUSE
FARM
COMPARED WITH
COMPARED NITH
QUARTER
THAN
DESIRED
THAN
OF LOANABLE
OF A SHORTAGE NONE
LOAN
NORMAL NUMBER
NONE
NORMAL NUMBER
(PERCENT)
DESIRED
LEVEL
DESIRED
FUNDS
OF FUNDS
ACCOUNTS
LONER SAME HIGHER
LOWER SAME HIOHEF
633.3

NINTH (MINNEAPOLIS) FEDERAL RESERVE DISTRICT

( MIX,

MN, MT,

ND,

SD, NIX )

1984-Q1, . .
-Q2. . .
-Q 3 ...
~Q4. . .

63.
65.
65.
63.

53.
42.
48.
43.

42.
47.
41.
51.

4.
11.
12.
7.

4.
5.
4.
4.

77.
73.
78.
72.

3.
3.
4.
2.

37.
24.
32.
34.

2.
5.
5.
4.

54.
64.
55.
52.

8.
7.
8.
10.

16.
14.
21.
16.

3.
3.
4.
1.

42.
59.
44.
46.

39.
24.
31.
37.

1985-Q1...
-Q 2 ...
- Q 3 . ..1
- Q 4 . . .1

62.
62.
62.
60.

34.
45.
51.
54.

58.
46.
44.
39.

8.
9.
5.
7.

1.
2.
4.
2.

74.
57.
54.
38.

1.
3.
2.
2.

34.
23.
24.
34.

4.
7.
8.
6.

51.
59.
62.
51.

11.
11.
6.
10.

8.
11.
12 .
17.

1.
0.
3.
1.

38.
36.
49.
42.

53 .
52.
36.
40.

1986-Q1...
-Q 2 ...
-Q 3 .:.
- Q 4 ...

59.
57.
56.
54.

59.
61.
71.
72.

37.
34.
28.
23.

3.
5.
1.
4.

1.
2.
3.
3.

48.
56.
69.
69.

i.
0.
2.
1.

31.
38.
31.
32.

5.
5.
4.
6.

52.
47.
58.
52.

12.
9.
6.
8.

12.
16 .
15.
20.

1.
4.
3.
10 .

45.
47.
61.
49.

41.
32.
21.
20.

1987-Q1,..

52.

68.

32.

0.

3.

XXX

XXX

33.

16.

47.

5.

20.

12.

48.

21.

633.5

FIFTH (RICHMOND) FEDERAL RESERVE DISTRICT

( MD, NC,

SC,

VA,

!
I
|
1

NVX )

54.
42.
41.
33.

42.
55.
48.
60.

4.
3.
10.
7.

0.
0.
0.
0.

76.
67.
68.
68.

XXX
XXX
XXX
XXX

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.

1985-Q1...
-Q 2 ...
-Q 3 ...
-Q 4 ...

66.
65.
66.
65.

38.
30.
37.
35.

52.
63.
56.
58.

10.
7.
7.
8.

0.
0.
11.
0.

66.
69.
68.
57.

XXX
XXX
XXX
XXX

78.
82.
71.
89.

0.
0.
0.
0.

22.
19.
29.
8.

0.
0.
0.
4.

52.
64.
52.
63.

0.
0.
0.
0.

31.
29.
48.
33.

17.
7.
0.
4.

1986-Q1...
-Q2. . .
- Q 3 ...
-Q 4 ...

68.
68.
70.
69.

36.
35.
33.
39.

50.
52.
56.
46.

14.
14.
11.
15.

0.
7.
0.
0.

68.
59.
67.
74.

XXX
XXX
XXX
XXX

63.
85.
76.
76.

4.
0.
0.
0.

26.
15.
24.
24.

7.
0.
0.
0.

48.
! 58.
54.
50.

4.
0.
0.
0.

41.
35.
42.
42.

7.
8.
4.
9.

1987-Q1...

66.

32.

50.

18.

0.

66.

XXX

77.

4.

15.

4.

54.

0.

29.

17.

1 9 8 4 -Q i...
“ Q2. . . 1
« Q 3 ...
~Q4...

64.
64.
64.
66.




j

47

48
FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 634
INTEREST RATES ON FARM LOANS
MOST

curmon

i n t e r e s t - rt^ e
t

(AVERAGE,
END OF
QUARTER

ON FARM LOANS

PERCENT)

OTHER
FEEDER
NON-REAL - ESTATE LOANS
CATTLE OPERATING
LOANS
SHORTLOANS
INTERMEDIATE
____ TERM___ _ TERM
634. 1

SEVENTH (CHICAGO)

LONG-TERM
REAL
ESTATE
LOANS

EXPECTED1 DURING THE NEXT QUARTER , COMPARED WITH
G
QUARTER (PERCENTAGE OF BANKS REPORTING)
I
LONG-TERM
1
INTERMEDIATE -TERM
REAL ESTATE LOANS
| NON-REAL-ESTATE LOANS |
1
1
HIGHER I LOWER
SAME
HIGHER
HIGHER | LOWER
SAME
1
1
1

AVERAGE INTEREST RATE
RATES IN THIS
SHORT-TERM
NON-REAL -ESTATE LOANS
LOWER

FEDERAL RESERVE DISTRICT

(

SAME

ILX,

I N*,

10,

MI*,

WI* )

AGRICULTURAL BANKS

1984-Q1...
- Q 2 ...
-Q 3 ...
- Q 4 . ..

13.8
14.3
14.4
13.6

13.8
14.3
14.4
13.6

XXXX
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

13.4
13.9
14.0
13.3

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
x xx x
x xx x

xxxx
xxxx
xxxx
xxxx

XXXX
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

x xx x
x xx x
xxxx
xxxx

xxx x
xxx x
x xx x
xxx x

1985-Q1. . .
-Q 2 ...
-Q3. . .
-Q4. . .

13.5
12.9
12.8
12.7

13.5
12.9
12.8
12.7

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

13.2
12.6
12.5
12.3

x xx x
x xx x
x xx x
x xx x

xxxx
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
x xx x
xxxx

xxxx
xxxx
xxxx
xxxx

1986-Q1. . .
- Q 2 ...
-Q 3.. .
-Q4. . .

12.4
11.8
11.3
11.1

12.4
11.8
11.3
11.1

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

11.7
11.2
10.8
10.5

xxxx
xxxx
xxxx
xxxx

xxxx
x xx x
x xx x
x xx x

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
x xx x
xxxx
xxxx

xxxx
xxxx
xxxx
x xx x

1987-Q1.. .

10.9

10.9

xxxx

xxxx

10.3

xxxx

x xx x

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

x xx x

634. 2

TENTH (KANSAS CITY)

FEDERAL RESERVE DISTRICT

( CO,

KS,

MO*,

NE,

NM*,

OK*,

W )
Y

AGRICULTURAL BANKS

1984-Q1. . .
-Q2. . .
-Q3. . .
- Q 4 . ..

14.1
14.5
14.6
13.9

14.2
14.6
14.7
14.1

xxxx
xxxx
x xx x
xxxx

14.5
14.8
14.9
14.2

14.1
14.4
14.6
14.0

xxxx
xxxx
x xx x
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
XXXX
XXXX
xxxx

xxxx
I xxxx
I xxxx
j xxxx

xxxx
xxxx
xxxx
xxxx

x xx x
x xx x
x xx x
xxxx

1985-Q1. . .
-Q2. . .
-Q3. . .
-Q4. . .

13.7
13.2
13.1
13.0

13.8
13.4
13.2
13.1

xxxx
xxxx
xxxx
xxxx

14.0
13.6
13.5
13.3

13.7
13.4
13.1
13.0

xxxx
xxxx
xxxx
xxxx

xxxx
x xx x
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

XXXX
xxxx

I xxxx
xxxx
1 xxxx
1 xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1986-Q1...
-Q2. . .
-Q3. . .
-Q 4.. .

12.6
12.3
11.9
11.6

12.7
12.4
11.9
11.7

xxxx
xxxx
xxxx
xxxx

12.8
12.5
12.0
11.8

12.4
12.1
11.6
11.1

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
x xx x

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

XXXX
xxxx
xxxx

I xxxx
xxxx
1 xxxx
! xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1987-Q1.. .

11.4

11.5

xxxx

11.5

10.8

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx




XXXX

XXXX

XXXX

FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 634 (CONTINUED)

INTEREST RATES ON FARM LOANS

END OF
QUARTER

MOST COMMON INTEREST RATE CHARGED ON FARM LOANS
(AVERAGE, PERCENT)

AVERAGE INTEREST RATE *
EXPECTED DURING THE NEXT QUARTER, COMPARED WITH
RATES IN THIS 1UARTER (PERCENTAGE OF BANKS REPORTING)
INTERMEDIATE-TERM
LONG-TERM
SHORT-TERM
NON-REAL-ESTATE LOANS
NON-REAL-ESTATE LOANS
REAL ESTATE LOANS

FEEDER
OTHER
NON-REAL-ESTATE LOANS LONG-TERM
CATTLE OPERATING
REAL
LONER
LOANS
LOANS
SHORT- INTERMEDIATEESTATE
________________ TERM______ TERM_______ LOANS___1
634. 3

SAME

HIGHER

LONER

SAME

HIGHER 1 LONER

SAME

HIGHER

( Mix, MN, MT, ND, SD, NIX )

NINTH (MINNEAPOLIS) FEDERAL RESERVE DISTRICT

1985-Q1..
.
-Q2..
.
-Q3..
.
-Q4..
.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

13.9
13.4
13.2
13.1

14.1
13.6
13.5
13.3

13.6
12.9
12.8
12.5

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.

1986-Q1..
.
-Q2. ..
-Q3..
.
-Q4. ..

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

12.8
12.3
11.9
11.7

13.1
12.6
12.1
11.8

12.3
11.9
11.3
11.0

52.
22.
40.
42.

48.
75.
57.
58.

0.
3.
2.

0.

49.
23.
34.
40.

51.
73.
63.
60.

0.
4.
3.

0.

48.
19.
22.
30.

52.
74.
75.
68.

0
.
7.
3.
2.

1987-Q1... xxxx

xxxx

11.4

11.5

10.7

25.

74.

1.

18.

81.

1.

12.

87.

1.

634. 4

ELEVENTH (DALLAS) FEDERAL RESERVE DISTRICT

( LAX, NMX, OKX, TX :
>

1985-Q1. ..
-Q2..
.
-Q3..
.
-Q4..
.

13.8
13.4
13.1
13.0

13.8
13.4
13.2
12.9

xxxx
xxxx
xxxx
xxxx

14.1
13.7
13.4
13.2

13.7
13.4
13.1
13.1

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-Q1...
-Q2. ..
-Q3..
.
-Q4...

12.4
12.0
11.6
11.3

12.6
12.2
11.7
11.5

xxxx
xxxx
xxxx
xxxx

12.8
12.6
11.9
11.9

12.9
12.6
11.7
11.4

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1987-Q1..
.

11.2

11.4

xxxx

11.6

11.5

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

634. 5

R
FIFTH (RICHMOND) FEDERAL 1ESERVE DISTRICT

( MD, NC, SC, VA, NV* )

1985-Q1.. 12.9
.
-Q2... 12.3
t
-Q3...i 12.3
-Q4... 11.6

12.8
12.0
12.0
12.0

xxxx
xxxx
xxxx
xxxx

13.3
12.5
12.6
11.8

13.3
12.9
12.8
11.3

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

11.7
11.1
10.7
10.1

11.5
10.8
10.4
9.9
10.1

xxxx
xxxx
xxxx
xxxx

11.8
11.2
10.9
10.5

11.7
11.1
11.1
10.7

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx

10.5

10.3

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

xxxx

1986-Q1...
-Q2...
-Q3...
-Q4. ..
1987-Q1..
.

10.2




49

50
FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 635

TRENDS IN FARM REAL ESTATE VALUES AND LOAN VOLUME
MARKET VALUE Of GOOD FARMLAND'
END OF
QUARTER

PERCENTAGE
A YEAR

PERCENTAGE CHANGE
DURING QUARTER
ALL
635.1

DRYLAND

IRRIGATED

RANCHLAND

ALL

DRYLAND

■PERCENTAGE OF BANKS EXPECTING
CHANGE FROM
|
TREND DURING THE NEXT
EARLIER
I
QUARTER TO BE
1
. .
D0HN
STABLE
UP
IRRI- RANCHGATED
LAND

SEVENTH (CHICAGO) FEDERAL RESERVE DISTRICT

1985-Q1..
.
-Q2..
.
-Q3..
.
-Q4...

-6.
-5.
**5.
~4.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

XXXX
xxxx
XXXX
xxxx

i
1
j -20.
1 -22.
-20.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

1986-Q1..
.
-Q2,..
-Q3..
.
-Q4.. |
.

-3.
-2.
-4.
-1.
0.

xxxx
KXXX
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
XXXX

-17.
] -15.
-12.
1 -12.
!

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx

xxxx

1987-Qi..
.

635.4

xxxx
xxxx
XXXX 1 >8.
_______ 1
______
ELEVENTH (DALLAS) FEDERAL RESERVE DISTRICT

PERCENTAGE of banks Expecting
FARM REAL ESTATE LOAN VOLUME
DURING THE NEXT QUARTER,
COMPARED NITH VOLUME MADE
A YEAR EARLIER, TO BE—
LONER

SAME

HIGHER

( ILX, INK, 10, Mix, HIM ) AGRICULTURAL BANKS
xxxx
xxxx
xxxx
xxxx

j

60.
j
55.
j
62.
j
55.
1
XXXX 1
40.
xxxx j
!
31.
xxxx j
!
43.
XXXX 1
1
40.
1
1
xxxx j
1
13.
1 .....
1
( LAX, NM*, OK*, TX

39.
45.
38.
43.

1.
1.
1.
2.

48.
34.
38.
35.

38.
32.
35.
38.

14.
35.
27.
26.

59.
67.
56.
59.

1.
1.
1.
1.

34.
34.
31.
30.

35.
42.
40.
38.

31.
24.
29.
32.

81.

5.

21.

37.

42.

)

1985 “
Q1_
_
-Q2. ..
~Q3..
.
Q4...

XXXX
xxxx
xxxx
xxxx

-3.
-2.
-3.
-3.

-1.
-5.
-5.
-8.

-1.
-4.
-2.
-5.

xxxx
• xxxx
xxxx
xxxx

-5.
-8.
-8.
-10.

-5.
“9.
-12.
-18.

2.
-4.
-9.
-11.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

38.
39.
43.
44.

55.
53.
46.
47.

7.
8.
11.
9.

1986-Qi...
-Q2.. 1
.
-Q3...1
~Q4...

xxxx
xxxx
xxxx
xxxx

-5.
-7.
-5.
-2.

-4.
-6.
-3.
-2.

-3.
-6.
-4.
-4.

xxxx
xxxx
xxxx
xxxx

-12.
-16.
-18.
-17.

-21.
-21.
-20.
-14.

-14.
-15.
-16.
-15.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

48.
45.
45.
42.

38.
42.
40.
46.

15.
12.
15.
12.

1987-Q1.•.

xxxx

-1.

-1.

-2.

xxxx

-14.

-11.

-14.

XXX

XXX

XXX

37.

53.

10.

635.5

FIFTH (RICHMOND) FEDERAL RESERVE DISTRICT

( MD, NC, SC, VA, HVX )

1985-Q1. .
.
-Q2.
..
-Q3..
.
-Q4. ..

-5.
-5.
-2.
-2.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

-9.
-17.
-10.
-13.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

40.
37.
36.
33.

60.
63.
64.
67.

0.
0.
0.
0.

48.
41.
44.
39.

48.
52.
48.
50.

3.
7.
7.
12.

1986-Q1. ..
-Q2. ..
-Q3... 1
-Q4. ..1
i
1
1987-Q1. .1
.
1

-2.
-o.
o.
-2.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

-10.
-6.
-4.
-4.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
xxxx

36.
28.
19.
11.

64.
72.
82.
86.

0.
0.
0.
4.

44.
50.
39.
31.

52.
43.
50.
54.

4.
7.
12.
15.

-o.

xxxx

xxxx

xxxx

-2.

xxxx

xxxx

xxxx

3.

97.

0.

37.

48.

15.




FEDERAL RESERVE BANK QUARTERLY SURVEYS OF AGRICULTURAL CREDIT CONDITIONS AT COMMERCIAL BANKS
TABLE 635 (CONTINUED)
TRENDS IN FARM REAL ESTATE VALUES AND LOAN VOLUME

MARKET VALUE OF GOOD FARMLAND
PERCENTAGE CHANGE
DURING QUARTER

END OF
QUARTER
ALL

635.2
198A-Q1...
-Q2...
-Q3..
.
-QA...

xxxx
xxxx
xxxx
xxxx

1985-Q1...
-Q2..
.
”Q3. .
.
-QA...

xxxx
xxxx
xxxx
xxxx

1986-Q1.*.
-Q2...
-Q3...
-QA. ..

xxxx
xxxx
xxxx
xxxx

1987-91.. .

xxxx
635.3

DRYLAND

IRRIGATED

RANCHLAND__

ALL

DRYLAND

IRRI- RANCHGATED __LAND__

TENTH (KANSAS CITY) FEDERAL RESERVE DISTRICT
-6.
-0.
-8.
-6.

-6.
-3.
-8.
-3.

PERCENTAGE OF BANKS EXPECTING
TREND DURING THE NEXT
QUARTER TO BE—

PERCENTAGE CHANGE FROM
A YEAR EARLIER

-A.
-A.
-A.
-8.

xxxx
xxxx
| xxxx
xxxx

-7.
-10.
-15.
-19.

-7.
-11.
-17.
-19.

DOWN

STABLE

.

-A.
-3.
-7.
-6.

LOWER

SAME

HIGHER

( COi, KS, MOX, NE, NMX, OKX, WY ) AGRICULTURAL BANKS
-7.
-11.
-12.
-19.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
xxxx
XXX
-18.
-17.
-23.
xxxx
XXX
XXX
-17.
-23.
-25.
xxxx
XXX
XXX
-21.
-16 . -28.
|
XXX
XXX
-20.
-18.
-2A.
1 xxxx
XXX
XXX
-3.
-3.
-18.
-18.
-2A.
-8. | xxxx
XXX
XXX
-3.
-1.
-16.
-16.
-2. | xxxx
-21.
|
XXX
XXX
-3.
-2.
-1A.
-12.
-1A.
-1. 1 xxxx
XXX
XXX
-A.
-6.
-7. | xxxx
-12.
-12.
-18.
i
1
1
|
XXX
XXX
0
0
-9.
-9.
-11.
-1. 1 xxxx
J1 _____
_
NINTH (MINNEAPOLIS) FEDERAL RESERVE DISTRICT ( Mix, MN, MT, ND, SD, NIX
-6.
-5.
-6.
-5.

UP

PERCENTAGE OF BANKS EXPECTING
DEMAND FOR LONG-TERM FARM
REAL ESTATE LOANS DURING THE
NEXT QUARTER, COMPARED WITH
NORMAL DEMAND, TO BE—

-9.
-6.
-9.
-3.

.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX

XXX

XXX

XXX

)

198A-Q1..
.
-Q2...
-Q3...
-QA. ..

xxxx
xxxx
xxxx
xxxx

-A.
-A.
-1.
-1.

1
.
-5.
-3.
-7.

-8.
-1.
2.
-5.

xxxx
xxxx
xxxx
xxxx

xxxx
xxxx
xxxx
-9.

xxxx
xxxx
xxxx
-13.

xxxx
xxxx
xxxx
-12.

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

XXX
XXX
XXX
XXX

33.
A8.
37.
36.

57.
A6 .
55.
57.

11.
5.
8.
6.

1985-Q1. .
.
-Q2. .
.
-Q3..
.
-QA...

xxxx
xxxx
xxxx
xxxx

-2.
-10.
-9.
-9.

-2.
-8.
-9.
-9.

-2.
-12.
-11.
-9.

xxxx
xxxx
xxxx
xxxx

-8.
-13.
-20.
-26.

-16.
-18.
-23.
-25.

-6.
-16.
-26.
-29.

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

32.
25.
22.
26.

56.
38.
A2.
Al.

12.
38.
36.
33.

1986-QI. ..
-Q2. ..
-Q3..
.
-QA. .
.

xxxx
xxxx
xxxx
xxxx

-9.
-6.
-A.
-5.

-8.
-5.
-A.
-A.

-10.
-8.
-6.
-6.

xxxx
xxxx
xxxx
xxxx

-31.
-28.
-25.
-21.

-30.
-28.
-23.
-19.

-35.
-33.
-29.
-27.

X XX
X XX
X XX
X XX

XXX
X XX
X XX
X XX

X XX
X XX
X XX
X XX

33.
21.
17.
15.

50.
52.
55.
A6 .

17.
27.
29.
A0.

1987-Q1. ..

xxxx

3.

-0.

5.

xxxx

-12.

-13.

-15.

X XX

X XX

X XX

9.

39.

52.

Note the following change in the Ninth District survey: before 1987-Q1, bankers reported quarterly changes,
from which the annual changes shown were calculated; in 1987-Q1, barkers reported the annual change shown,
and the implied quarterly change was calculated.




51