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AGRICULTURAL FINANCE
DATABOOK_________________
March 1979
Monthly Series
Emanuel Melichar
Amy Brooks
Division of Research and Statistics
Board of Governors of the Federal Reserve System
Washington, D.C. 20551
Not for general distribution. Inquiries should be addressed to the authors.
AGRICULTURAL FINANCE DATABOOK— MONTHLY SERIES
MARCH 1979
SE C T IO N
200
PAGE
FARM LENDING O P E R A T E S
AND E X P E R IE N C E OF NONBANK IN S T IT U T IO N S
210
PRODUCTION C R E D IT A S S O C IA T IO N S .....................................
220
FED ERA L LAND BA N K S......... .......................................................................................................... ..
230
L IF E
300
INSURANCE
AGRICU LTU RA L BAN KIN G DATA.......... ....................................................................... ............ . . . 2 3
M ost
of
th e
D a ta b o o k
b a n k in g
s e r ie s
a re
once
a g a in
u p - to - d a te ,
s e r ie s
a re
T h e M a rc h l e v e l o f o u t s t a n d i n g n o n r e a l - e s t a t e fa r m l o a n s
a y e a r ag o --a s h a rp r i s e (T a b le 3 0 1 .1 ) .
The c o v e r a g e o f t h i s
an d o u r t a b l e
sh o w s
Fa rm
e s t im a t io n
a g a in
th e
3
C O M PA N IES• » ..................................................................................... . . . • . I B
bank r e p o r t in g p r o c e d u r e s .
R e c e n t d e v e lo p m e n ts in t h e s e
a r e a l s o d i s c u s s e d , w i t h t a b u l a t i o n s on p a g e 28 a n d 2 9 .
th a n
2
of
h is to r ic a l
lo a n
d a ta
p ro c e d u re s,
9 per cent
seasonal
fo r
o ve r th e
r e d u c t io n
th a t
ro se
b y m o re t h a n
o ccu rre d
o n ly
in
1 9 7 2 -7 3
One f a c t o r
H ig h e r
p r ic e s
q u a r te r ly
have
su rve y
in
le d
of
a ll
we s e e
a c tu a lly
F a rm
fo r
c o m m e r c ia l
banks
year
3 0 1 .1 ).
(T a b le
o ccu rs
in
f o r y e a r- e n d
If
th e
so ,
fo u rth
S e c o n d - h a lf
re ce n t
to
bank
e x p a n s io n
s te p
of
fa rm
up b o r r o w i n g ,
le n d in g
n o n r e a l- e s t a t e
s t ill
fa rm
in
banks
s t ill
p ro ce ss.
U s in g
$ 2 8 .1
b illio n
lo a n s
banks
n o t o n ly
but
at
over
th e
m a g n it u d e
second
a re
in
ra te
c o m m e r c ia l
d e v e lo p m e n ts
17 p e r c e n t h i g h e r
3 3 0 t o 170 b a n k s ,
d o m in a t e
t o t a lin g
o f th is
to
l o a n s m ay h a v e
p r o b a b ly
fa rm e rs
sh o w s
been
b y m o re t h a n
a la r g e
l o a n s m ade b y c o m m e r c ia l
T o ta l
.......................
.......................
.......................
a re
q u a rte r,
in c re a s e s
N um ber o ^ l o a n s
Feeder
1977
1978
1979
C a lifo r n ia
lo a n s
th e n
1 r e v is io n s
In t e r e s t
a t l a r g e c o m m e r c ia l b a n k s i s
s e r i e s h a s b ee n r e d u c e d fro m
N o te t h a t
n o n r e a l- e s t a t e
Ja n u a ry
b e lo w .
th is
s e r ie s .
o u r n e w ly - d e v is e d
at
th e
end
fa ile d
to
of
1978,
e x h ib it
h a lf
o f th e
year
u n u s u a l,
h a v in g
p r e v io u s ly
th e y
1 9 7 5-76.,
b u ye rs
of
new g r o u p .
fa r m
t y p ic a lly
th e
th is
o u ts ta n d in g
$1 b i l l i o n .
and
te rm s
d a ta
a fte r
d is c u s s e d
th e
In c r e a s e
banks,
su rg e
th e
fir s t
A m ount o f
in
net
in
fe e d e r
w eek o f
lo a n s
fe e d e r c a t t le
re p a y m e n ts
of
liv e s t o c k
T he
lo a n s ,
f o llo w s :
Fe b ru a ry
(m illio n s o f d o lla r s )
Feeder
11v e s to c k
T o ta l
liv e s to c k
9 ,6 0 0
1 0 ,5 0 0
809
797
168
1 0 ,9 0 0
96 8
304
(Continued on page 30)
p r ic e s .
s e lle r s .
114
as
AGRICULTURAL FINANCE OATABOOK— MONTHLY SERIES
210
PRODUCTION C R ED IT
211
ACTUAL.............. - ..................................................................................................................... 4
SEASO NALLY A D JU S T E D ................................................ ........................................................ ..
ACTUAL................................................................................
12-MONTH MOVING TO TAL..............................................
6
7
RENEWALS AND CO LLEC TIO N S
2 1 3 .1
2 1 3 .3
SOURCE:
AS NOTED)
LOANS MADE AND N€W LOANS
2 1 2 .1
2 1 2 .3
213
(A G R IC U LT U R A L LOANS, EXC EPT
LOANS OUTSTANDING
211 .1
2 11 .2
212
A SSO C IA T IO N S
MARCH 1979
ACTUAL......................................
8
12-MONTH MOVING TO TAL.......................................................................................................9
"PRODUCTION C R ED IT ASSO C IA T IO N S— SELEC T ED MONTHLY LOAN D A T A ,"
SU P E R V ISO R Y D IV IS I O N , FARM C R E D IT A D M IN IST R A T IO N .
DATA IN T H IS SEC T IO N ARE O BTAINED FROM T IM E L Y MONTHLY REPORTS WHICH ARE NOT
R E V IS E D TO R E F L E C T ANY SUBSEQUENT CHANGES OR C O RR EC T IO N S.
I F ONLY YEAR-END
DATA ON OUTSTANDING LOAN VOLUME ARE R EQ U IR E D , USE THE S E R IE S IN SEC T IO N 100
DATA ON LOANS OUTSTANDING AND LOANS MADE DO NOT
FARM -RELATED B U S IN E S S LOANS, OR AQUATIC LO ANS.
RENEWALS DO IN CLUDE T H ESE LOANS 5 HOWEVER, TH ESE
ONLY 1 .4 PER CENT OF TOTAL OUTSTANDING LOANS AT
IN CLUD E RURAL HOME LOANS,
DATA ON C O LLEC TIO N S AND
T Y P E S OF LOANS R EPR ESEN T ED
P C A 'S AS OF DECEMBER 1978.
FOR A B R IE F D IS C U S S IO N OF THE ANA LYTIC A L VALUE OF TH ESE DATA, SEE THE SEC TIO N
E N T IT L E D "L E N D IN G E X P E R IE N C E OF NONBANK IN S T IT U T IO N S " IN "O V ER A LL M EASURES OF
F IN A N C IA L PER FO RM A N C E," BY EMANUEL M ELIC H A R , AGRICULTURA L F INANCE R E V IE W .
FEBRU A RY 1 9 7 7 , P P . 9 2 -9 5 .
3
4
TABLE 211.1
PRODUCTION C R E D IT A SSO C IA T IO N S
LOANS OUTSTANDING
(END OF MONTH)
AMOUNT
1
1
1
1
1
1
1
1
1977—J A N . • • |
- F E B ...|
- M A R ...I
- A P R ...I
- M A Y ...|
- JU N ...j
- JU L ...I
- A U G ...I
- S E P ...|
- O C T ...|
- N O V ...|
—D EC • • • |
1
1
1978—J A N . • • |
- F E B ...|
- M A R ...|
- A P R ... 1
- M A Y ...|
—J U N . • • |
- JU L ...|
- A U G ...|
- S E P ...|
- O C T ...|
- N O V ...|
- D E C ...|
li
1979-J A N . . . |
- F E B ...I
1
i
M IL L IO N S OF DOLLARS
I
%
1
END
| CHANGE FROM P R E V IO U S |
OF
|
1
MONTH
|
MONTH
|
YEAR
|
1 2 1 4 0 .2
1 2 2 7 2 .9
1 2 5 8 3 .0
1 2 9 2 9 .3
1 3 3 3 2 .9
1 3 7 4 8 .9
1 4 0 3 8 .0
1 4 1 3 2 .5
1 4 0 6 9 .3
1 3 7 6 8 .7
1 3 4 7 1 .3
1 3 4 5 4 .3
1 3 2 3 3 .3
1 3 2 7 3 .6
1 3 4 2 6 .8
1 3 6 2 9 .8
1 39 09 .1
143 12 .1
1 4 6 5 1 .5
1 4 8 4 6 .1
1 4 9 5 4 .7
1 4 7 4 3 .5
1 4 6 0 1 .1
1 4 9 0 1 .5
1 4 8 8 4 .1
1 4 9 9 1 .0
|
|
|
|
|
|
|
|
|
1
|
|
1
1
|
|
|
|
|
|
|
|
|
|
|
|
I
|
|
PERCENTAGE CHANGE
FROM P R E V IO U S
MONTH
|
1
YEAR
BORROWERS
1
j
|
IP E R C E N T A G E I
CHANGE
|
1 THOUSANDS |
FROM
|
1
1
|
| P R E V IO U S |
YEAR
|
1
l
- 5 6 .1 1
1 3 2 .7 |
3 1 0 .1 |
3 4 6 .a |
4 0 3 .6 f
4 1 6 .0 1
2 6 9 .1 |
9 4 .5 |
- 6 3 .2 |
- 2 8 0 .5 |
- 3 1 7 .4 j
- 1 7 .0 1
1
1 4 2 9 .1
1 4 4 9 .7
1 4 6 5 .8
1 5 0 8 .5
1 6 2 6 .2
1 7 4 3 .3
1 8 4 7 .2
1 8 1 3 .1
1 7 4 7 .9
1 6 1 6 .4
1 4 9 0 .5
1 2 5 7 .9
|
|
|
|
|
|
|
1
|
|
|
|
1
- 0 .5
1 .1
2 .5
2 .6
3 .1
3 .1
2 .1
0 .7
- 0 .4
- 2 .0
- 2 .3
- 0 .1
|
|
|
i
|
|
|
|
|
|
|
)
»
1 3 .3
1 3 .4
1 3 .2
1 3 .2
1 3 .9
1 4 .5
1 5 .2
1 4 .7
1 4 .2
1 3 .3
1 2 .4
1 0 .3
|
|
|
|
|
I
|
|
|
|
|
|
1
3 3 5 .3
3 3 7 .4
3 4 1 .7
3 4 5 .5
3 4 8 .4
3 5 0 .4
3 5 1 .3
3 5 1 .2
3 5 0 .6
3 4 7 .9
3 4 4 .9
3 4 2 .8
- 2 2 0 .9
4 0 .3
1 5 3 .2
2 0 3 .0
2 7 9 .3
4 0 3 .0
3 3 9 .4
1 9 4 .5
1 0 8 .6
- 2 1 1 .2
- 1 4 2 .4
3 0 0 .4
|
|
|
|
|
|
|
|
)
|
I
|
1
1 0 9 3 .1
1 0 0 0 .7
8 4 3 .8
7 0 0 .5
5 7 6 .2
5 6 3 .2
6 1 3 .5
7 1 3 .6
8 8 5 .4
9 5 4 .8
1 1 2 9 .8
1 4 4 7 .2
- 1 .6
0 .3
1 .2
1 .5
2 .0
2 .9
2 .4
1 .3
0 .7
- 1 .4
- 1 .0
2 .1
|
|
|
|
|
|
|
I
I
|
|
|
j
9 .0
8 .2
6 .7
5 .4
4 .3
4 .1
4 .4
5 .0
6 .3
6 .9
8 .4
1 0 .8
|
|
|
|
|
|
|
|
|
|
|
|
j
3 4 1 .2
3 4 1 .7
3 4 3 .7
3 4 6 .2
3 4 8 .0
3 4 9 .3
3 5 0 .5
3 5 1 .3
3 5 0 .8
3 4 8 .8
3 4 6 .3
3 5 3 .4
- 1 7 .3
1 0 6 .6
|
|
1 6 5 0 .8
1 7 1 7 .4
|
|
|
|
|
|
|
|
)
|
|
|
i
1
|
|
- 0 .1
0 .7
I
1
1 2 .5
1 2 .9
|
|
3 4 5 .8
3 4 6 .9
|
|
|
|
|
|
|
|
|
|
|
|
i
1
|
|
|
|
|
|
|
|
|
|
|
|
j
|
|
AVERAGE S I Z E
D O LLARS
2 .2
2 .1
2 .2
2 .3
2 .4
2 .5
2 .4
2 .4
2 .5
2 .4
2 .4
2 .1
|
1
t
|
|
|
|
|
|
|
|
|
1
36207.
36373.
36828.
37424.
38266.
39233.
39961.
40237.
40130.
39637.
39064.
39253.
1 .8
1 .3
0 .6
0 .2
- 0 .1
- 0 .3
- 0 .2
0 .0
0 .1
0 .3
0 .4
3 .1
|
1
|
1
|
I
|
|
|
|
|
|
I
38788.
38850.
39067.
39366.
39971.
40971.
41806.
42261.
42625.
42274.
42164.
42162.
1 .4
1 .5
|
|
43045.
43218.
IP E R C E N T A G E I
|
CHANGE
FROM
1
I P R E V IO U S
YEAR
1
|
|
|
|
1
|
|
|
|
|
|
|
i
1
|
|
1
|
|
|
|
|
|
|
|
1
j
1 0 .9
1 1 .0
1 0 .8
1 0 .7
1 1 .2
1 1 .8
1 2 .4
1 2*0
1 1 .4
1 0 .6
9 .8
8 .0
|
|
1 1 .0
1 1 .2
7 .1
6 .8
6 .1
5 .2
4 .5
4 .4
4 .6
5 .0
6 .2
6 .7
7 .9
7 .4
TABLE 211*2
PRODUCTION C R E D IT A SSO C IA T IO N S
LOANS OUTSTANDING
SEASO NALLY ADJUSTED DATA
(END OF MONTH)
1
1
1
1
1
1
1
1
1977—J A N * . • |
- F E B ...8
- M A R ...I
—A P R * • • |
—M A Y **•1
- JU N ...I
- JU L ...I
—AUG*• • |
- S E P ...I
- O C T ...I
- N O V ...I
- D E C .* * 1
1
1
1 9 7 8 - JA N * • • i
- F E B ...8
- M A R ...|
- A P R ...|
—M A Y .• * |
- JU N ...I
- JU L ...I
- A U G ...I
—S E P . •*1
- O C T .•*1
- N O V ...|
—DEC. . . |
1
1
1979—J A N . • • |
—F E B . . . I
AMOUNT
M IL L IO N S OF DOLLARS
END
OF
MONTH
1 2 5 3 3 .1
1 2 6 7 7 .9
12814*7
12993*7
1 3 1 9 1 .9
1 3 3 7 7 .6
1 3 5 4 7 .0
1 3 6 6 0 .9
1 3 7 5 2 .5
1 3 8 0 0 .8
13813*1
13691*4
13666*6
1 3 7 2 7 .0
13688*8
1 3 7 1 3 .8
1 3 7 7 8 .6
1 3 9 3 3 .3
14135*1
1 4 3 3 8 .7
14609*5
1 4 7 4 8 .8
1 4 9 6 9 .5
15172*6
1 5 3 7 4 .3
1 5 5 1 1 .7
1
1
| CHANGE FROM P R E V IO U S 1
I
8
MONTH
8
YEAR
|
|
PERCENTAGE CHANGE
FROM P R E V IO U S
MONTH
1
|
|
|
|
|
|
1
|
|
|
|
I1
|
|
1
|
|
|
|
|
|
|
|
|
|
1 1 7 .7
1 4 4 .9
1 3 6 .7
1 7 9 .0
1 9 8 .2
185*7
169*4
1 1 4 .0
9 1 .6
4 8 .3
12*3
-1 21 *7
1
j
1
|
|
|
|
I
|
I
|
|
j
1 4 8 6 .0
1 5 2 7 .5
1 52 4.2
1 5 5 1 .0
1 6 3 7 .7
1712*6
1 7 7 1 .7
1 7 2 4 .6
1 6 8 7.2
1 5 9 9 .3
1 5 1 3 .3
1 2 7 6 .0
|
8
(
1
J
1
|
|
|
8
|
8
0 .9
1 *2
l.l
1 .4
1 .5
1 .4
1*3
0 .8
0 *7
0 .4
0 .1
~ 0 .9
- 2 4 .8
60*4
- 3 8 .2
2 5 .0
64*8
1 5 4 .8
2 01*8
2 0 3 .6
270*8
1 3 9 .3
2 2 0 .7
2 0 3 .1
1 1 3 3.5
1049*1
8 7 4 .1
7 20*1
5 8 6 .7
5 5 5 .8
5 8 8 .1
6 7 7 .8
8 5 7 .0
9 4 8 *0
1 1 5 6 .4
1 4 8 1 .3
8
8
|
8
f
|
|
|
|
|
(
|
|
- 0 .2
0 .4
- 0 .3
0 .2
0 .5
l.l
1 .4
1 .4
1 .9
1 .0
1 .5
1 .4
I
1
2 0 1 .7
1 3 7 .4
|
|
|
|
|
|
|
§
|
8
1
|
1
1
8
8
1 7 0 7 .7
1 7 8 4 .7
g
8
1 .3
0 .9
|
i
YEAR
I
|
(
|
|
|
8
|
|
8
|
|
8
8
|
8
(
8
8
|
8
8
I
8
|
1
1 3 .5
1 3 .7
1 3 .5
13*6
1 4 .2
1 4 .7
1 5 .0
1 4 .4
1 4 .0
1 3 .1
1 2*3
10*3
1
|
1 2 .5
13*0
9 .0
8 *3
6*8
5 .5
4 *4
4 .2
4 *3
5 .0
6 *2
6 .9
8 .4
10*8
BORROWERS
8
8
i
i
1
1
8PERC EN TA G E|
8
| THOUSANDS*
CHANGE
|
FROM
|
8
8
|
| P R E V IO U S (
YEAR
1
1
8
8
|
8
|
8
8
8
)
}
8
|
8
iI
|
|
|
|
8
|
8
*
8
8
i
t
1
1
8
I
3 4 2 .4
3 4 1 .8
3 4 2 .9
3 4 3 .9
3 4 5 .0
3 4 5 .7
3 4 6 .1
3 4 6 .4
3 4 7 .3
3 4 7 .9
3 4 9 .9
3 4 7 .5
3 4 8 .3
3 4 6 .2
3 4 5 .1
3 4 4 .8
3 4 4 .7
3 4 4 .7
3 4 5 .4
3 4 6 .5
3 4 7 .6
3 4 8 .8
3 5 1 .4
3 5 8 .4
3 5 3 .0
3 5 1 .5
8
8
8
|
|
|
*
8
*
J
*
*
i
I
*
»
|
|
J
8
|
8
8
8
8
|
1
1
8
8
AVERAGE S I Z E
DOLLARS
2 .3
2 .2
2 .3
2 .4
2 .5
2 .6
2 .5
2 .4
2 .5
2 .4
2 .4
2 .1
|
|
|
|
|
|
|
|
8
|
(
|
i
36607.
37089.
37366.
37784.
38237.
38697.
39140.
39431.
39599.
39668.
39475.
39395.
1 .7
1 .3
0 .6
0 .3
- 0 .1
- 0 .3
- 0 .2
0 .0
0 .1
0 .3
0 .4
3 .1
|
|
|
|
8
*
|
1
|
8
|
|
i
39234.
39651.
39667.
39777.
39976.
40422.
40927.
41376.
42032.
42287.
42595.
42331.
1 .3
1 .5
8
|
43549.
44130.
| PERCENTAGE 8
|
CHANGE
FROM
1
1 P R E V IO U S
YEAR
8
*
|
|
|
8
8
|
J
|
I
8
8
t
1
|
8
|
8
|
8
8
8
8
|
1
8
1
1
|
|
1 0 .9
1 1 .2
1 0 .9
1 0 .9
1 1 .4
1 1 .8
1 2 .3
1 1 .8
1 1 .2
1 0 .5
9 .7
8 .1
7 .2
6 .9
6 .2
5 .3
4 .5
4 .5
4 .6
4 .9
6 .1
6 .6
7 .9
7 .5
1 1 .0
1 1 .3
6
TABLE 212.1
PRODUCTION C R E D IT A SSO C IA T IO N S
LOANS MADE AND NEW LOANS
LOANS MADE
1 M IL L IO N S
OF
1
1 DOLLARS
1
1 9 7 7 - JA N ...I
-FEB. . . \
- M A R ...|
- A P R ... |
—MAY. . . |
- JU N . . . |
- JU L ...|
- A U G ...|
- S E P . •• |
- O C T ...i
- N O V ...I
-D EC . . . \
i
1
197b—J A N . • • |
- F E B ... |
- M A R ... |
- A P R ...|
- M A Y . .. |
- JU N ...I
- JU L ... |
- A U G ... |
- S E P ... |
- O C T ...|
- N O V ... |
- D E C ... |
I
1
1979—J A N . • • |
- F E B ...I
1 9 7 3 .7
1 8 3 0 .1
2 1 9 6 .2
1 8 7 4 .2
1 6 5 2 .2
1 6 1 4 .8
1 2 9 2 .0
1 2 8 1 .2
1 2 8 4 .4
1 3 2 5 .8
1 5 4 5 .4
2 1 7 9 .1
2 0 5 4 .0
1 9 1 1 .6
2 4 1 4 .1
2 0 2 7 .6
1 9 0 9 .4
1 7 8 8 .1
1 5 4 4 .2
1 5 9 5 .9
1 5 7 6 .7
1 8 0 3.8
196 7.1
2 6 0 8 .3
2 6 9 6 .7
2 3 5 0 .4
|
(
|
1
i
1
|
|
I
S
|
|
|
1
|
|
l1
|
|
|
|
l
1
|
|
|
|
|
|
1
1
|
|
PERCENTAGE CHANGE
FROM P R E V IO U S
MONTH
|
YEAR
NEW LOANS
AS PERCENTAGE OF
| M IL L IO N S
I
OF
1
1
1LOANS OUT—|
C O LLEC - 1 DOLLARS
TIO N S
1
1 ST A N D IN G *|
- 8 .1
- 7 .3
2 0 .0
- 1 4 .7
- 1 1 .8
- 2 .3
- 2 0 .0
- 0 .8
0 .2
3 .2
1 6 .6
4 1 .0
|
|
t
|
|
|
i
|
|
i
|
|
1
1 0 .0
1 4 .8
1 3 .7
9 .3
1 7 .0
1 2 .3
9 .7
8 .8
9 .9
9 .5
3 .9
1 .5
1
1
1
1
I
1
1
1
1
1
1
1
l1
1 6 .2
1 5 .1
1 7 .9
1 4 .9
1 2 .8
1 2 .1
9 .4
9 .1
9 .1
9 .4
1 1 .2
1 6 .2
|
|
|
|
|
|
|
I
|
|
|
|
1
1 6 7 .9
2 0 9 .0
2 1 8 .7
2 1 6 .7
2 0 6 .3
1 9 8 .5
1 8 1 .5
1 4 4 .9
1 2 5 .5
1 0 3 .5
1 1 2 .6
1 6 0 .6
- 5 .7
- 6 .9
2 6 .3
- 1 6 .0
- 5 .8
- 6 .4
- 1 3 .6
3 .4
- 1 .2
1 4 .4
9 .1
3 2 .6
|
i
|
|
|
i
I
|
|
|
|
|
I
4 .1
4 .5
9 .9
8 .2
1 5 .6
1 0 .7
1 9 .5
2 4 .6
2 2 .8
3 6 .0
2 7 .3
1 9 .7
1 5 .3
1 4 .4
1 8 .2
1 5 .1
1 4 .0
1 2 .9
1 0 .8
1 0 .9
1 0 .6
1 2 .1
1 3 .3
1 7 .9
|
|
|
|
|
|
|
|
|
|
|
|
|
1 4 6 .5
1 9 0 .9
1 9 0 .8
1 8 7 .5
1 7 4 .0
1 7 6 .4
1 7 4 .8
1 5 1 .4
1 3 8 .7
1 1 0 .2
1 2 5 .6
1 7 9 .8
3 .4
- 1 2 .8
i
1
3 1 .3
2 3 .0
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1
1 8 .1
1 5 .8
|
|
1 5 8 .4
1 8 3 .3
{
|
fi
|
|
|
|
|
|
|
|
|
j
[
|
|
|
|
|
*
|
|
|
1
|
j
|
|
i
|
|
\
PERCENTAGE CHANGE
FROM P R E V IO U S
MONTH
i
YEA R
I
AS PERCENTAGE OF
(
1LOANS OUT—|
C O LLEC
| ST A N D IN G *|
T IO N S
1 1 2 2 .1
1 0 0 7 .5
1 3 0 9 .9
1 2 1 1 .3
1 2 0 3 .5
1 2 2 7 .3
1 0 0 0 .6
9 7 9 .2
9 6 1 .8
9 9 8 .9
1 0 5 2 .6
1 3 4 5 .0
|
|
|
|
|
|
|
|
|
|
|
|
j
- 1 7 .4
- 1 0 .2
3 0 .0
- 7 .5
- 0 .6
2 .0
- 1 8 .5
- 2 .1
- 1 .8
3 .9
5 .4
2 7 .8
|
|
|
|
|
|
|
|
|
|
|
|
j
8 .9
1 3 .5
1 2 .0
6 .3
1 7 .8
8 .6
9 .7
9 .3
7 .4
1 0 .5
2 .7
- 1 .0
I
|
|
|
|
|
|
|
|
|
|
I
1
9 .2
8 .3
1 0 .7
9 .6
9 .3
9 .2
7 .3
7 .0
6 .8
7 .1
7 .6
1 0 .0
1 1 7 6 .5
1 0 4 0 .3
1 4 4 7 .3
1 2 8 5 .2
1 3 7 4 .3
1 4 0 8 .7
1 2 1 7 .5
1 2 4 6 .2
123 8.2
1 4 1 9 .6
1 4 3 9 .1
1 7 4 5 .7
|
|
|
|
|
1
|
|
|
|
|
|
j
- 1 2 .5
- 1 1 .6
3 9 .1
- 1 1 .2
6 .9
2 .5
- 1 3 .6
2 .4
- 0 .6
1 4 .6
1 .4
2 1 .3
|
|
|
|
|
|
|
|
|
|
|
|
j
4 .8
3 .3
1 0 .5
6 .1
1 4 .2
1 4 .8
2 1 .7
2 7 .3
2 8 .7
4 2 .1
3 6 .7
2 9 .8
|
|
|
1
|
|
|
|
|
|
|
|
j
8 .7
7 .9
1 0 .9
9 .6
1 0 .1
1 0 .1
8 .5
8 .5
6 .3
9 .5
9 .8
1 2 .0
1 6 7 9 .0
1 3 7 8 .5
|
|
- 3 .8
- 1 7 .9
|
|
4 2 .7
3 2 .5
1
|
1 1 .3
9 .3
|
|
|
|
|
|
|
|
|
I
|
|
j
|
|
|
|
1
|
|
|
|
|
|
|
j
9 5 .5
1 1 5 .1
1 3 0 .4
1 4 0 .0
1 5 0 .3
1 5 0 .8
1 4 0 .6
1 1 0 .7
9 4 .0
7 8 .0
7 6 .7
9 9 .1
|
|
9 8 .6
1 0 7 .5
8 3 .9
1 0 3 .9
1 1 4 .4
1 1 8 .8
1 2 5 .2
138 .9
1 3 7 .9
1 1 8 .2
1 0 9 .0
8 6 .8
9 0 .4
1 2 0 .3
♦ OUTSTANDING LOANS AT END OF PR EC ED IN G MONTH m
"NEW LOANS- ARE COMPUTED AS LOANS MADE LESS RENEWALS. RENEWALS INCLUDE SOME NONAGR1CULTURAL LOANS (SEE NOTE ON PAGE 3).
TABLE 212.3
7
PRODUCTION C R ED IT A SSO C IA T IO N S
LOANS MADE AND NEW LOANS
TWELVE-MONTH MOVING TOTAL
i
I1
1 M IL L IO N S
OF
1
1 DOLLARS
1
1977—J A N . • • |
—F E B . • • |
—M A R ..•(
- A P R ...|
—MAY. . . |
—JU N . . . |
- JU L ...I
- A U G ...I
- S E P ...|
—OCT. . . |
—N O V .••1
—D EC . . . 1
1
1
1978—J A N . •• |
—F E B . . • |
- M A R ...|
—A P R . . . 1
—MAY. . . 1
- JU N ...I
- JU L ...|
- A U G ...I
—S E P . ••1
—OCT. . . |
- N O V .* .|
—D E C .• . |
i
1
1979—J A N . • • |
—F E B . • • |
*
LOANS MADE
1
|
|
1
PERCENTAGE CHANGE
FROM P R E V IO U S
MONTH
1 8 4 3 4 .4
1 8 6 7 0 .5
1 8 9 3 4 .5
1 9 0 9 4 .4
1 9 3 3 4 .2
1 9 5 1 0 .4
1 9 6 2 5 .1
1 9 7 2 8 .3
1 9 8 44 .1
1 9 9 5 9 .4
2 0 0 1 7 .1
2 0 0 4 9 .3
|
|
|
1
|
|
|
|
|
1
1
|
j
1 .0
1 .3
1 .4
0 .8
1 .3
0 .9
0 .6
0 .5
0 .6
0 .6
0 .3
0 .2
2 0 1 2 9 .6
2 0 2 1 1 .1
2 0 4 2 8 .9
2 0 5 8 2 .3
2 0 8 3 9 .5
2 1 0 1 2 .8
2 1 2 6 4 .9
2 1 5 7 9 .6
2 1 8 7 1 .9
2 2 3 4 9 .8
2 2 7 7 1 .6
2 3 2 0 0 .7
t
1
|
|
1
|
1
|
|
|
|
|
1
0 .4
0 .4
1.1
0 .8
1.2
0 .8
1 .2
1 .5
1 .4
2 .2
1 .9
1 .9
S
1
2 .8
1 .8
2 3 8 4 3 .5
2 4 2 8 2 .3
|
|
|
|
|
|
|
|
|
|
|
|
j
\
|
|
|
|
|
|
|
|
S
|
|
1
|
(
YEAR
NEW LOANS
i
AS PERCENTAGE OF
|
ILOANS OUT—|
C O LLEC | ST A N D IN G *1
T10NS
\ M IL L IO N S
|
fi
OF
DOLLARS
1 3 .7
1 3 .9
1 2 .2
1 1 .4
1 1 .8
1 1 .4
1 1 .8
1 1 .1
1 1 .1
1 1 .9
1 0 .4
9 .8
|
|
|
(
i
|
|
1
f
|
|
|
»
1 5 6 .9
1 5 7 .3
1 5 8 .0
1 5 7 .7
1 5 8 .0
1 5 7 .7
1 5 6 .8
1 5 5 .7
1 5 4 .8
1 5 3 .9
1 5 2 .8
1 5 1 .6
j
S
|
1
|
|
|
|
|
|
|
|
j
1 6 7 .6
1 6 8 .2
1 6 8 .5
169 .5
1 7 0 .5
1 7 2 .3
1 73 .5
1 7 2 .7
1 7 1 .7
1 6 9 .4
1 6 7 .6
1 6 4 .8
|
|
|
|
|
|
|
|
*
|
|
|
1 2460.9
1 2 5 8 1 .0
1 2 7 20 .9
1 2 7 9 3 .0
1 2975.2
1 30 72 .9
1 3 1 6 1 .6
1 3 2 44 .7
1 33 10 .9
1 3 4 0 5 .7
1 34 33 .3
1 34 19 .6
9 .2
8 .3
7 .9
7 .8
7 .8
7 .7
8 .4
9 .4
1 0 .2
1 2 .0
1 3 .8
1 5 .7
|
|
|
|
|
|
|
4
i
f
i
4
i
1 5 1 .0
1 5 0 .6
1 5 1 .3
1 5 1 .6
1 5 2 .9
1 5 3 .6
1 5 4 .9
1 5 6 .6
1 5 8 .0
1 6 0 .6
1 6 2 .7
1 6 4 .7
|
l
|
|
|
|
4
|
1
|
4
|
1 6 2 .5
1 6 1 .5
1 5 9 .9
1 5 8 .4
1 56 .8
1 5 5 .8
1 5 5 .6
1 5 6 .0
1 5 6 .8
1 5 6 .3
1 5 6 .8
1 5 8 .8
f
(
4
(
|
4
|
|
4
|
(
|
1 3 4 7 4 .0
1 3 5 0 6 .8
1 3 6 4 4 .2
1 37 18 .1
1 3 8 8 8 .9
1 40 70 .3
1 4 2 87 .2
1 4 5 5 4 .3
1 4 8 3 0 .7
1 5 2 5 1 .4
1 56 37 .9
1 6 0 3 8 .6
1
I
1 6 7 .8
1 6 9 .3
1 5 9 .9
1 5 9 .8
S
|
1 6 5 4 1 .1
1 6 8 7 9 .4
1 8 .5
2 0 .1
AVERAGE OUTSTANDING LOANS DURING THE PR E C E D IN G
I
4
l
|
|
4
4
PERCENTAGE CHANGE
FROM P R E V IO U S
MONTH
4
I
4
4
|
|
|
4
|
4
4
|
i
1
4
1
4
(
|
(
4
4
|
|
|
4
i
0 .7
1 .0
1 .1
0 .6
1 .4
0 .8
0 .7
0 .6
0 .5
0 .7
0 .2
- 0 .1
4
(
4
0 .4
1
4
4
4
4
4
|
4
|
4
1
4
i
1
4
0.2
4
1 .0
0 .5
1 .2
1 .3
1 .5
1 .9
1 .9
2 .8
2 .5
}
(
|
|
(
4
|
|
|
2.6
4
I
3 .1
2 .0
|
1
YEAR
4
AS PERCENTAGE OF
4
CO LLEC
4LOANS OUT-4
4 ST AND1NG*4
TIO N S
1 4 .9
1 5.1
1 3 .0
1 1 .5
1 1 .7
1 0 .6
1 0 .8
1 0 .0
9 .8
1 0 .6
9 .0
8 .5
4
S
|
|
4
|
|
|
*
|
|
|
i
1 0 6 .1
1 0 6 .0
1 0 6 .1
1 0 5 .6
1 0 6 .1
1 0 5 .7
1 0 5 .2
1 0 4 .5
1 0 3 .8
1 0 3 .4
1 0 2 .5
1 0 1 .5
|
|
|
4
|
|
|
|
|
4
|
|
1
1 1 3 .3
1 1 3 .3
1 1 3 .2
1 1 3 .5
1 1 4 .4
1 1 5 .5
1 1 6 .4
1 1 5 .9
1 1 5 .2
1 1 3 .8
1 1 2 .5
1 1 0 .3
8 .1
7 .4
7 .3
7 .2
7 .0
7 .6
8 .6
9 .9
1 1 .4
1 3 .8
1 6 .4
1 9 .5
|
4
|
|
|
|
4
4
(
|
4
4
1
1 0 1 .1
1 0 0 .6
1 0 1 .0
1 0 1 .1
1 0 1 .9
1 0 2 .8
1 0 4 .1
1 0 5 .6
1 0 7 .2
1 0 9 .6
1 1 1 .8
1 1 3 .9
|
|
|
|
|
1
4
|
|
|
|
|
i
1 0 8 .7
1 0 7 .9
1 0 6 .8
1 0 5 .6
1 0 4 .5
1 0 4 .3
1 0 4 .6
1 0 5 .2
1 0 6 .4
1 0 6 .6
1 0 7 .7
1 0 9 .8
2 2 .8
2 5 .0
4
|
1 1 6 .4
1 1 7 .7
|
|
1 1 0 .9
lil.l
12 MONTHS 4AVERAGE OF END—OF-MONTH D A T A ).
•NEW LOANS" ARE COMPUTED AS LOANS MADE LESS RENEWALS. RENEWALS INCLUDE SOME NONAGRICULTURAL LOANS (SEE NOTE ON PAGE 3)
TABLE 213*1
8
PRODUCTION C R E D IT A SSO C IA T IO N S
RENEW ALS AND C O LLEC T IO N S
s
!
f M IL L IO N S
OF
I
DOLLARS
I
i
1977—JA N * • • |
—F E B * • • I
- M A R ...f
-APR . . . |
—MAY. . . |
- JU N ...I
—J U L . . . 1
- A U G ...I
- S E P ...1
- O C T ...I
- N O V ... 1
- D E C ... |
t
1
8 5 1 .6
8 2 2 .7
8 8 6 .4
6 6 2 .9
4 4 8 .7
3 8 7 .6
2 9 1 .4
3 0 2 .1
3 2 2 .6
3 2 6 .9
4 9 2 .8
8 3 4 .2
1978—J A N . • . |
- F E B ...I
- M A R ...1
- A P R ... |
- M A Y . .. |
- JU N ...i
- JU L ...1
- A U G ...I
- S E P ...1
- O C T ...I
- N O V ... |
- D E C ... |
i
1
1 97 9-J A N . . . |
- F E B ...I
8 7 7 .5
8 7 1 .4
9 6 6 .7
7 4 2 .5
5 3 5 .1
3 7 9 .4
3 2 6 .6
3 4 9 .7
3 3 8 .4
3 8 4 .2
5 2 8 .0
8 6 2 .6
1 01 7.7
9 7 1 .9
RENEWALS
i
1
|
i
|
|
j
|
|
|
J
|
S
|
|
|
i
1
S
f
1
|
|
|
1
|
i
|
|
|
I
|
|
PERCENTAGE CHANGE
FROM P R E V IO U S
MONTH
8 .0
- 3 .4
7 .7
- 2 5 .2
- 3 2 .3
- 1 3 .6
- 2 4 .8
3 .7
6 .8
1 .3
5 0 .8
6 9 .3
|
|
\
|
(
|
1
i
|
|
|
|
|
i
YEAR
1
I
f
AS PERCENTAGE OF
| M IL L IO N S
OF
8
|
? LOANS O U T -1
LOANS
(C O L L E C T . &!
DOLLARS
| ST A N D IN G *!
MADE
| RENEWALS 1
I
|
I
I
PERCENTAGE CHANGE
FROM P R E V IO U S
MONTH
1 1 .4
1 6 .4
1 6 .3
1 5 .2
1 4 .7
2 5 .4
9 .8
7 .1
1 8 .2
6 .7
6 .5
5 .8
1
!
i
1
!
1
1
1
1
!
1
!
it
7 .0
6 .8
7 .2
5 .3
3 .5
2 .9
2 .1
2 .2
2 .3
2 .3
3 .6
6 .2
t
S
!
!
|
|
!
|
I
I
!
|
1
4 3 .1
4 5 .0
4 0 .4
3 5 .4
2 7 .2
2 4 .0
2 2 .6
2 3 .6
2 5 .1
2 4 .7
3 1 .9
3 8 .3
1
1
1
1
1
1
1
1
1
!
1
1
it
4 2 .0
4 8 .4
4 6 .9
4 3 .4
3 5 .9
3 2 .3
2 9 .0
2 5 .5
2 4 .0
2 0 .3
2 6 .4
3 8 .1
|
|
|
(
|
I
|
!
!
|
I
|
j
1 1 7 5 .3
8 7 5 .5
1 0 0 4 .4
865*0
8 0 0 ,8
8 1 3 .7
7 1 1 .8
8 8 4 .4
1 02 3.3
1 2 8 1.0
1 37 2.0
1 35 6.7
|
|
|
1
|
I
|
|
|
I
|
|
j
3 .5
- 2 5 .5
1 4 .7
—1 3 .9
- 7 .4
1 .6
- 1 2 .5
2 4 .3
1 5 .7
2 5 .2
7 .1
- 1 .1
*
!
1
1
l
I
»
1
1
1
1
1
ii
1
1
6 .5
6 .6
7 .3
5 .5
3 .9
2 .7
2 .3
2 .4
2 .3
2 .6
3 .6
5 .9
!
|
1
|
|
|
I
|
I
|
!
|
i
1
|
1
4 2 .7
4 5 .6
4 0 .0
3 6 .6
2 8 .0
2 1 .2
2 1 .2
2 1 .9
2 1 .5
2 1 .3
2 6 .8
3 3 .1
1
1
1
i
i
i
i
i
i
i
i
i
i
i
i
i
3 8 .5
4 6 .5
4 3 .3
4 0 .7
3 2 .8
2 7 .2
2 7 .0
2 4 .9
2 2 .9
1 9 .0
2 4 .9
3 7 .3
I
I
|
I
!
|
|
|
I
|
|
|
|
1 4 0 2 .0
1 0 0 1 .5
126 5.1
1 0 8 1 .4
1 0 9 7 .5
1 0 1 4.0
8 8 3 .2
1 0 5 4.2
1 1 3 6.5
163 6.2
1 39 1.3
1 4 5 0 .7
1
|
|
(
I
|
|
|
|
|
|
|
*
3 .3
- 2 8 .6
2 6 .3
- 1 4 .5
1 .5
- 7 .6
- 1 2 .9
1 9 .4
7 .8
4 4 .0
- 2 .7
- 8 .8
3 7 .4
4 3 .1
|
|
1 70 2.7
1 2 8 2.2
|
|
1 7 .4
- 2 4 .7
5 .2
- 0 .7
1 0 .9
- 2 3 .2
- 2 7 .9
-2:9.1
- 1 3 .9
7 .1
- 3 .2
1 3 .5
3 7 .4
6 3 .4
|
|
|
|
|
!
|
|
|
I
|
|
j
3 .0
5 .9
9 .1
1 2 .0
1 9 .3
- 2 .1
1 2 .1
1 5 .8
4 .9
1 7 .5
7 .2
3 .4
1 8 .0
- 4 .5
!
|
1 6 .0
1 1 .5
6 .8
6 .5
3 7 .7
4 1 .4
OUTSTANDING LOANS AT END OF PR EC ED IN G MONTHi.
RENEWALS AND COLLECTIONS INCLUDE SOME NONAGRICULTURAL LOANS (SEE NOTE ON PAGE 3).
C O LLEC T IO N S
I
|
!
|
|
|
!
|
|
I
|
I
|
1
|
|
|
|
!
|
|
1
|
8
8
!
j
|
|
YEAR
|
AS PER ICENTAGE OF
|LOANS OUT1 STA N D IN G*
1 0 .6
1 2 .8
1 5 .3
4 .1
9 .6
- 1 .8
- 1 .6
1 4 .9
1 4 .7
2 1 .4
1 3 .2
1 9 .5
1
I
1
!
I
1
8
!
8
1
1
8
i
9
9 .6
7 .2
8® 2
6 .9
6 .2
6 .1
5 .2
6 .3
7 .2
9 .1
9 .9
1 0 .1
1 9 .3
1 4 .4
2 6 .0
2 5 .0
3 7 .0
2 4 .6
2 4 .1
1 9 .2
11. 1
2 7 .7
1 6 .0
6 .9
8
8
f
8
8
1
8
8
1
1
8
8
ii
8
1
1 0 .4
7 .6
9 .5
8 .1
8 .1
7 .3
6 .2
7 .2
7 .7
1 0 .9
1 0 .8
9 .9
2 1 .4
2 8 .0
1 1 .4
8 .6
9
TABLE 213*3
f.-.ODUCTION C RED IT A SSO C IA T IO N S
RENEWALS AND C O LLEC T IO N S
TWELVE-MONTH liO VIN G TOTAL
RENEWALS
1 M ILLIO N S
Of
1
1 DOLLARS
I
1
I
1
I
f
—F E B * • « |
-MAR** * |
—A P R • • « |
5973*6 1
6089*3 1
6 2 1 3 *6 1
6301®4 1
—MAY•••1
—J U N * • • |
- JU L * * « |
-A U G ***!
—S E P * * ® 1
—OCT• • • I
—NOV* * * i
6 35 8*9
643 7*5
6 4 6 3 .5
6 48 3*6
6533*2
6553*8
6 58 3*8
6 62 9*7
1 9 7 7 - JA N * .
—DEC* &
§
9
1978—4 A N *• • |
—F E B * ® •!
-MAR®*®8
—A PR *••1
m
-MAY®*, !
—UUN* * * !
—«JUL* • • |
—AUG* * « 9
—SEP*# » 1
—OCT * * * I
—NOV * « * I
-DEC** ®|
i
I
1979—JAN*® * 1
-FEB * • • I
!
I
|
!
1
1
1
I
a
1
j6655.6 |
6 7 0 6 .3 1
6784*7 i
6364®2 1
6 9 5 0 *6 1
6942*5 1
6977*7
1
7 02 5*4 |
7041*2 i
709 8*5 g
7 13 3*7 I
7162*1 1
i
1
7 3 0 2 *4 |
7 4 0 2 *9 8
PERCENTAGE CHANGE
|
AS PERCENTAGE OF
M ILLIO N S
|
OF
1LOANS 0 0 1 - f
(C O LLEC T * C|
LOANS
DOLLARS
| ST A N D IN G * I
MADE
1 RENEW ALS 1
|
j
|
1
11*3
1
1.1*5
1
i
|
FROM PREVIOUS
MONTH
1*5
1*9
S
I
1
2*0 I
1*4 1
0*9 |
1*2 {
0 *4 §
0*3 8
0*8 §
0 .3 |
0 *5 g
0*7 1
I
0*4
I
0*7 1
1*2 |
1.2 1
1*3 I
-0 *1 1
0*5 |
o®7 i
YEAR
10*8 §
1
1 1*4
12*2
1 3*0
13*8
1 3 .4
13*9
14*6
13*4
12*6
i
1
g
g
§
|
i
i
|
i
7 .8
8 *0
1
|
$
8*4 g
7 .8 I
8 .3 |
6 *4 I
8 *0
1
9 .7
1 0 .4
1 .®
|
g
$
11*4
10*1
9*2
8*9
9 .3
0*2 §
0*8 g
* .5 1
0*4 |
I
2 .0 S
C O LLEC TIO N S
|
i
|
|
so *9 1
51 .3 1
51*8 1
52 *0 1
32 »4 i
3 2 .6 1
3 2 .8 1
3 3*0 i
3 5.2 |
35*4 |
3 5 *6 |
3 5 .9 |
5 2 *0
5 2*0
51 .6
5 1 .2
5 1*0
5 0 .5
5 0 *3
50 * 1
|
|
|
|
g
i
I
1
I
3 5 .9
3 6 .2
i
|
I
3 2 .9
3 3 ,0
3 2 .9
3 2 .9
3 2 .9
3 2 .8
3 2 .9
3 3 .1
3 6*2
3 6 *1
35*7
3 5 .5
3 5 .3
§
g
g
)
g
g
g
g
4 9 .9
5 0 .0
|
|
33.1
33.2
3 4 .9
g
1
3 3.4
33®% i
3 4 .9
3 4 .7
3 4 .6
I
|
g
3 4 .3
3 3 .7
3 3 .6
3 3 .2
3 2 .9
3 2 *9
g
g
g
|
|
1
I
|
1 2 3 9 0 .6
1 2 5 1 6 .7
1 2 7 7 7 .4
12993*9
1 3 2 9 0 .6
1 3 4 9 0 .8
1 3 6 6 2 .2
1 3 8 3 2 .0
1 39 45 .2
1 4 3 0 0 .4
1 4 5 1 9 .7
1 4 6 1 3 .7
3 2 .9
32 *8
g
I
1 4 9 1 4 .4
1 5 1 9 5 .1
|
56*2 J
50*6
5 1 *0
50 a ?
5 0 .8
51 *0
50.9
5 1.0
s i #0
60 »8
5 1 .4
5 1 .6
33*2
g
|
i
1
|
?
i
|
|
|
g
3 3 .0
32 a®
3 2 .6
i
i
i
f
i(
i
i
i
i
i
i
i
32*2 i
31*8 i
3 1 .3
3 0 *9
i
l
i
8
30c6
I
1
30*5
36*4
3 4 .0
33*8
110 01 .2
11100*8
1 1 2 3 3 .9
11267*7
11337*8
11323*1
1 1 3 1 1 .5
1 14 26 .1
1 1 5 5 7 .3
1 1 7 8 3 .4
1 1 9 4 2 .9
1 2 1 6 3 .9
g
I
1
g
|
|
I
|
I
|
Il
1
g
I
|
$
g
|
|
g
§
g
g
1
1
|
g
♦ AVERAGE OUTSTANDING LOANS DURING THE PRECEDING 12 NQNY IS I AVERAGE OF END-QF-MQNTH DATA I <
RENEWALS AND COLLECTIONS IN CLUDE SOME NONA GR1C U LTURAL LOANS i SEE NOTE ON PAGE 3i
PERCENTAGE CHANGE
FROM P R E V IO U S
MONTH
1 .0
0 .9
1 .2
0 .3
0 .6
- 0 .1
- 0 .1
1 .0
1 .1
2 .0
1 .4
1*8
1.9
1 .0
2 .1
1 .7
2 .3
1*5
1 .3
1 .2
0 .8
2 .5
1 .5
0 *6
2 .1
i.9
g
g
g
g
g
g
g
|
g
g
(
g
|
a
1
g
|
|
1
g
g
t
|
|
|
g
|
1
g
g.
YEAR
1 3 .6
1 2 .8
1 0 .6
9 .7
9 .4
7 .7
8 .0
8 .7
9 .9
1 2 .3
1 0 .9
1 1 .7
1 2 .6
1 2 .8
1 3 .7
1 5 .3
17*2
1 9 .1
2 0 .8
2 1 .1
2 0 .7
2 1 .4
2 1 .6
2 0 .1
|
AS PER (CENTAGE OF
(LOANS OUT| STAND IN G*
g
g
g
|
g
g
|
!
g
g
g
g
■
1
g
(
g
g
g
g
t
g
1
|
|
|
9 3 .7
9 3 .6
9 3 .7
93..1
9 2 .7
9 1 .5
9 0 *4
9 0 *2
90*1
9 0 *9
9 1 *2
9 2 *0
9 3 *0
9 3 .3
9 4 *6
9 5 .7
9 7 .5
9 8 .6
9 9 .5
100*4
100*8
102 *8
103*8
1 0 3 .7
i
2 0 .4
2 1*4
g
g
105 *0
1 0 5 *9
AGRICULTURAt
220
F I NA NC E DATA BOOK*— MO N T H L Y SERIES
MARCH 1979
FEDERAL LAND BANKS {AGRICULTURAL LOANS)
221
LOANS OUTSTANDING
221.1
222
LOANS
222.1
222.3
223
A C T U A L . . ....................... .......................................................................................................... ............................... 12
12- MONTH MOVING T O T A L . . . . . . . ..................................................................... .................................. 1 3
LOANED
A C T U A L . . ......................................... .. ................................................................................................................
12- MONTH MOVING T O T A L . . . . ..................... ........................... .............................................................. 15
REFINANCING
224.1
224.3
SO URCE:
CLOS ED
NEW MONEY
223. 1
223.3
224
ACTUAL • • ............................................ .. ....................................................................... • .. ............................... . . 1 1
AND R E P AY ME NT S
A C T U A L . . . . . ................................................................ * ................................................... .. ......................... . . 1 6
12-MONTH MOVING T O T A L ........................ .. .................................... ............................................................ ..
"F E D E R A L LAND BANKS — SUMMARY OF SELEC T ED MONTHLY LOAN DAT A *"
TECH N ICAL S E R V IC E S D I V I S I O N FARM C R E D IT A D M IN IST R A T IO N .
DATA IN T H IS SEC TIO N ARE O BTAINED FROM T IM E L Y MONTHLY REPORTS WHICH ARE NOT
R E V IS E D TO R EF L E C T ANY SUBSEQUENT CHANGES OR C O RR EC T IO N S.
I F ONLY YEAR-END
DATA ON OUTSTANDING LOAN VOLUME ARE R EQ U IR E D , USE THE S E R IE S IN SEC T IO N 100
OF THE A G RICU LTU RA L FIN A N C E DATA3QDK:zz J^ M 1A L_£ £R J.£LS» NOVEMBER 197T.
te
11
TABLE 221*1
FED ERA L LAND BANKS
LOANS OUTSTANDING
(END OF MONTH)
AMOUNT
1
1
1
M IL L IO N S OF DOLLARS
!
t
i
1
OUT! CHANGE FROM P R E V IO U S I
1
!
1 STANDING !
MONTH
!
YEAR
!
!
1
»
1
PERCENTAGE CHANGE
FROM PR E V IO U S
MONTH
!
i
YEAR
I
|
!
I
1
1 .7
1 .8
1 .8
1 .8
1 .7
1 .8
1 .8
1 .8
1 .8
1 .9
1 .9
1 .9
|
t
!
!
|
|
t
|
(
1
|
|
|
1
1
|
|
j
4 5 9 .8
4 6 0 .4
4 6 1 .3
4 6 1 .8
4 6 3 .1
4 6 4 .6
4 6 5 .8
4 6 7 .2
4 6 8 .4
4 6 9 .5
4 7 0 .3
4 7 1 .2
2 .0
2 .0
1 .9
1 .8
1 .8
1 .9
1 .9
2.1
2 .1
2 .3
2 .4
2 .5
|
|
4 7 2 .5
4 7 3 .8
2 .8
2 .9
1 8 6 9 2 .7 !
1 8 9 2 1 .9 !
193 30 .8 !
1 9 6 2 5 .0 !
1 9 9 1 6 .8 J
2 0 1 9 0 .2 !
2 0 4 4 0 .8 !
2 0 6 5 8 .0 !
2 0 8 7 3 .7 !
2 1 0 5 7 .0 |
2 1 2 5 8 .2 !
2 1 4 6 6 .3 )
j
J
!
I
|
|
!
|
1 X 1 .1 !
2 1 5 .7 !
1 8 3 .3 l
2 0 1 .2 !
2 0 8 .1 !
j
2 5 0 2 .8
2 5 5 2 .3
2 6 3 1 .0
2 6 7 8 .8
2 7 5 7 .3
2 7 8 7 .0
281 8.1
2 8 5 1 .8
2 8 9 1 .5
2 9 0 9 .3
2 9 3 8 .0
2 94 2.1
!
!
!
|
|
!
J
|
!
!
!
!
j
0 .9
1 .2
2 .2
1 .5
1 .5
1 .4
1 .2
l.l
i.o
0 .9
1 .0
l.o
f
!
|
|
!
!
(
!
!
!
1
!
1
1 5 .5
1 5 .6
15.8
1 5 .8
1 6.1
1 6 .0
1 6 .0
1 6 .0
16.1
1 6 .0
1 6 .0
1 5 .9
!
1
|
1
1
1978-J A N . . . J
- F E B ...!
- M A R ...|
—A P R . . .1
- M A Y ...!
- JU N ..« !
- JU t...!
- A U G ...!
- S E P ...!
- O C T ...!
- N O V ...!
- D E C ...!
■
1
1979—J A N . • . !
- F E B ...!
2 1 6 7 2 .2 |
2 1 8 9 5 .7 |
2 2 2 3 4 .1 I
2 2 4 8 0 .7 l
2 2 8 0 6 .7 |
2 3 1 3 0 .7 !
2 3 3 9 4 .6 !
23677^6 !
2 3 9 3 8 .7 !
2 4 2 1 0 .9 !
2 4 4 6 0 .7 !
2 4 6 6 8 .0 !
•
2 0 5 .8
2 2 3 .5
3 3 8 .4
2 4 6 .6
3 2 6 .0
3 2 4 .0
2 6 3 .9
2 8 3 .0
2 6 1 .1
2 7 2 .3
2 4 9 .8
2 0 7 .3
2 9 7 9 .5
2 9 7 3 .8
2 9 0 3 .2
2 8 5 5 .7
2 8 8 9 .9
2 9 4 0 .4
2 9 5 3 .7
3 0 1 9 .6
3 0 6 4 .9
3 1 5 3 .9
3 2 0 2 .5
3 2 0 1 .7
1
!
!
!
!
!
!
|
!
1
|
!
i
1 .0
1 .0
1 .5
l.l
1 .4
1*4
l.l
1 .2
l.l
l.l
1 .0
0 .8
I
(
f
!
!
!
!
!
!
1
1
!
1
1 5 .9
1 5 .7
1 5 .0
1 4 .6
1 4 .5
1 4 .6
1 4 .5
1 4 .6
1 4 .7
1 5 .0
15.1
1 4 .9
2 5 0 5 3 .0
2 5 3 5 7 .8
3 8 5 .0 !
3 04 . 8 1
3 3 8 0 .8
3 4 6 2 .1
!
!
1 .6
1 .2
f
1
1 5 .6
1 5 .8
(
!
|
!
!
!
|
!
!
!
!
|
!
!
!
«i
! PERCENTAGE!
THOUSANDS!
CHANGE
I
FROM L A S T !
YEAR
!
!
4 5 0 .9
4 5 1 .5
4 5 2 .9
4 5 3 .8
4 5 4 .8
4 5 6 .0
4 5 7 .0
4 5 7 .8
4 5 8 .6
4 5 9 .1
4 5 9 .2
4 5 9 .5
1977—JA N * * • I
- E E B ...I
- M A R .,.|
- A P R ...I
- M A Y ...|
- JU N ...I
- JU L ...I
- A U G ...!
- S E P ...!
-O CT. . . |
- N O V ...!
—D E C .• . |
i
1 6 8 .5
2 2 9 .2
4 0 9 .0
2 9 4 .2
2 9 1 .8
2 7 3 .4
2 5 0 .6
NUMBER
\
1
|
1
|
|
!
|
AVERAGE S I Z E
DOLLARS
I PERCENTAGE
1 CHANGE
f FROM L A S T !
YEAR
!
I
41457.
41909.
42684.
4 32 43 .
4 37 92 .
4 42 73 .
44732.
4 51 24 .
45519.
45868.
46289.
46714.
!
!
!
|
|
!
!
!
|
!
!
!
i
1 3 .5
1 3 .6
1 3 .8
1 3 .8
1 4 .1
1 4 .0
1 4 .0
1 4 .0
1 4 .0
1 3 .9
1 3 .8
1 3 .7
!
I
!
!
1
!
!
!
!
!
!
|
j
47136.
47559.
48193.
4 8 6 80 .
4 9 2 47 .
4 9 7 87 .
50225.
50677.
511 04 .
51564.
52010.
52355.
I
!
|
!
|
1
1
|
!
!
|
(
j
1 3 .7
1 3 .5
1 2 .9
1 2 .6
1 2 .5
1 2 .5
1 2 .3
1 2 .3
1 2 .3
1 2 .4
1 2 .4
1 2.1
!
!
53020.
53522.
!
!
1 2 .5
1 2 .5
\
!
|
!
!
!
\
1
TABLE 222.1
FED ERA L LAND BAN
LOANS CLOSED
1 9 7 7 - JA N ...!
- F E B ...!
- M A R ...|
- A P R ...|
- M A Y ...|
- JU N ...I
—J U L . . . I
- A U G .. .1
- S E P ...I
- O C T ... |
- N O V ...1
- D E C ... |
I1
1978—J A N .• • |
- F E B ... I
- M A R ...1
- A P R .. .1
- M A Y ...|
- J U N . . .1
- JU L ...1
- A U G ... !
- S E P ...|
- O C T ... 1
- N O V ...!
-DEC . . . 1
i
1
1979—J A N . ••1
- F E B . .. 1
4 6 3 .7
4 2 9 .5
6 7 9 .0
5 2 1 .3
5 1 8 .3
5 0 6 .0
4 9 2 .2
4 0 2 .9
3 7 9 .7
3 5 8 .6
4 1 8 .9
4 4 8 .9
5 0 2 .7
4 3 3 .0
6 1 8 .9
4 9 2 .1
5 7 0 .7
5 5 9 .7
4 6 1 .9
4 8 0 .7
4 5 4 .9
4 8 5 .9
4 7 0 .3
4 8 3 .1
7 3 4 .4
5 3 0 .7
1
AS PERCENTAGE OF
I
f
j
|
I
|
|
1
|
I
|
1
|
i
|
I
1
i
|
!
\
1
j
|
(
!
|
|
!
!
I
1
1
|
PERCENTAGE CHANGE
FROM PR E V IO U S
MONTH
f
YEAR
6 .0
- 7 .4
58..1
- 2 3 .2
- 0 .6
- 2 ,4
- 2 .7
- 1 8 ,2
- 5 .7
- 5 .6
1 6 .8
7 .2
!
f
!
f
!
|
|
f
!
I
!
!
i
1 8 .0
2 3 .8
2 8 .7
1 9 .4
4 2 .5
2 4 .9
3 4 .1
2 5*6
1 7 .5
1 4 .4
1 9 .5
2 .6
1 2 .0
- 1 3 .9
4 2 .9
- 2 0 .5
1 6 .0
- 1 .9
- 1 7 .5
4 .1
- 5 .4
6 .8
- 3 .2
2 .7
|
|
|
I
I
I
1
1
I
f
I
|
j
I
1
8 .4
0 .8
- 8 .8
- 5 .6
1 0 .1
1 0 .6
- 6 .2
1 9 .3
1 9 .8
3 5 .5
1 2 .3
7 .6
5 2 .0
- 2 7 .7
4 6 .1
2 2 .6
♦ OUTSTANDING LOANS AT END OF PR EC ED IN G MONTH
AVERAGE S I Z E
NUMBER
AMOUNT
[
1 M IL L IO N S
OF
1
1 DOLLARS
1
\
! PERCENTAGE!
CHANGE
f
! THOUSANDS!
! FROM L A S T !
I
YEAR
!
I
f
|
|
|
|
|
\
|
f
|
|
|
|
j
|
f
1
|
!
I
!
|
|
I
|
|
j
I
|
DOLLARS
! PERCENTAGE
I
CHANGE
1 FROM LAST
YEAR
!
LOANS
1
OUTf
ST A N D IN G *!
!
4 .9
4 .7
6 .8
5 .6
5 .8
5 .9
4 .8
4 .8
4 .5
4 .4
4 .8
5 .0
S
1
1
I
!
1
!
1
1
f
1
I
i
2 .4
5 .6
6 .6
4 .6
1 9 .0
1 3 .4
7 .3
1 0.1
7 .0
6 .4
8 .5
- 0 .9
!
!
!
!
|
I
i
!
1
|
|
!
9 40 58 .
91013.
9 9 8 33 .
92640.
8 92 73 .
86233.
102888.
83792.
85203.
822 40 .
864 42 .
89729.
!
f
!
!
|
f
!
!
!
!
!
!
1
1 5 .3
1 7 .2
2 0 .7
1 4.1
1 9 .8
1 0 .2
2 4 .9
14.1
9 .8
7 .5
1 0 .1
3 .5
2 .5
2 .3
3 .6
2 .7
2 .6
2 .5
2 .4
2 .0
1 .8
1 .7
2 .0
2 .1
4 .9
4 .5
5 .9
4 .9
5 .9
5 .9
4 .8
5 .3
4 .7
5 .2
5 .2
5 .2
1
1
1
!
1
1
1
1
1
I
!
1
i
!
1
- 0 .2
- 4 .7
- 1 3 .3
- 1 2 .8
1 .2
0 .5
1 .3
1 0 .9
4 .4
1 9 .9
6 .5
3 .0
1
!
!
!
|
!
|
1
|
!
!
!
102187.
9 63 34 .
104921.
100255.
97164.
94900.
9 5 2 72 .
90130.
97744.
9 2 9 18 .
91087.
9 37 84 .
|
1
1
!
!
!
f
|
!
!
!
!
■
8 .6
5 .8
5 .1
8 .2
8 .8
1 0.1
- 7 .4
7 .6
1 4 .7
1 3 .0
5 .4
4 .5
2 .3
2 .0
2 .8
2 .2
2 .5
2 .5
2 .0
2 .1
1 .9
2 .0
1 .9
2 .0
!
!
1 18 09 5.
107147.
!
!
1 5 .6
1 1 .2
3 .0
2 .1
6 .2
5 .0
2 6 .4
1 0 .2
!
|
|
!
\
f
1
f
\
|
!
5
j
!
!
1
f
!
!
|
I
I
|
!
!
1
I
t
!
R EP A Y
MENTS
2 2 3 .4
3 67 .1
4 7 5 .2
4 7 5 .5
4 5 7 .7
4 0 3 .8
3 7 4 .2
4 3 5 .2
5 1 6 .3
3 8 9 .3
3 4 0 .3
3 0 4 .0
2 4 7 .1
3 6 0 .2
4 0 6 .3
3 8 0 .8
4 4 7 .4
4 7 3 .0
4 5 3 .3
4 7 3 .5
5 2 3 .8
4 2 9 .8
3 7 9 .6
2 7 1 .0
3 3 7 .9
4 3 1 .6
13
TA B L E 222.3
FE DE RA L LAND BANKS
LOANS CL OS ED
T W E L V E - M O N T H MOVING TOTAL
1
1
1
1 M IL L IO N S
OF
1
DOLLARS
!
I
AMOUNT
|
|
1
i
PERCENTAGE CHANGE
FROM P R E V IO U S
MONTH
1
YEAR
1 9 7 7 - JA N ... |
—F E B * ••|
- M A R ...I
- A P R ... |
- M A Y .. . \
- JU N ...|
- JU L ... j
-AUG.
- S E P ... |
-O CT. . . |
- N O V ... |
- D E C ... I
*
4 6 5 6 .1
4 7 3 8 .7
4 8 9 0 .1
4 9 7 5 .0
5 1 2 9 .6
5 2 3 0 .6
5 3 5 5 .7
5 4 3 7 .9
5 4 9 4 .4
5 5 3 9 .4
5 6 0 7 .7
5 6 1 9 .1
1
I
|
j
|
|
|
I
j
I
1
1
i
1 .5
1 .8
3 .2
1-7
3 .1
2 .0
2 .4
1 .5
KO
0 .8
1 .2
0 .2
!
1
|
I
|
|
{
|
|
1
1
|
i
1 0 .5
1 2 .4
1 3 .7
1 4 .6
1 8 .6
2 0 .0
2 1 .9
2 2 .8
2 3 .7
2 4 .9
2 4 .0
2 2 .5
1978—J A N . • • j
- F E B ... |
—M A R .* • |
- A P R ... I
- M A Y ...|
- JU N ... j
- J U L . . .1
- A U G .. . |
- S E P ...I
- O C T .. . 1
- N O V ...I
—D E C .• • |
j
5 6 5 8 .0
5 6 6 1 .6
5 6 0 1 .5
5 5 7 2 .3
5 6 2 4 .7
5 6 7 8 .4
5 6 4 8 .1
5 7 2 5 .9
5 8 0 1 .0
5 9 2 8 .2
5 9 7 9 .6
6 0 1 3 .8
0 .7
0 .1
- 1 .1
- 0 .5
0 .9
1 .0
- 0 .5
1 .4
1 .3
2 .2
0 .9
0 .6
|
|
1
|
|
|
|
!
|
|
|
i
I
2 1 .5
19.5
1 4 .5
1 2 .0
9 .7
8 .6
5 .5
5 .3
5 .6
7 .0
6 .6
7 .0
1 9 7 9 - JA N .. • |
- F E B ...1
6 2 4 5 .6
6 3 4 3 .2
|
|
I
|
|
|
1
j
|
|
1
|
i1
|
!
3 .9
1 .6
|
I
1 0 .4
1 2 .0
1
I
NUMBER
t
!1
i
|
1PERCENTAGE!
| THOUSANDS
CHANGE
1
1 FROM L A S T !
1
!
YEAR
|
AS PERCENTAGE OF
I
i
i
I PERCENTAGE!
LOANS
|
R EP A Y
OUT!
|
CHANGE
!
MENTS
! FROM L A S T ! ST A N D IN G *!
YEAR
1
!
1
AVERAGE
DOLLARS
S IZ E
3 7 4 .3
3 7 6 .7
3 7 8 .9
3 8 2 .9
3 8 5 .3
3 8 0 .1
3 7 4 .8
3 7 5 .3
3 8 0 .7
3 8 1 .2
3 8 1 .5
3 8 0 .6
!
!
|
J
!
!
!
|
!
1
|
!
■
|
!
1
|
|
1
I
1
1
!
1
1
1
1
2 8 .0 1
2 7 .7 |
2 7 .1 |
2 6 .6 I
2 6 .6 !
2 6 .5 |
2 6 .1 !
2 6 .1 I
2 6 .2 I
2 6 .4 |
2 6 .4 |
2 6 .2 !
i
I
|
2 6 .9
2 7 .0
3 9 7 .7
4 0 3 .2
I
|
|
f
j
|
I
|
I
1
|
|
1
|
I
|
I
I
|
!
|
[
|
1
!
i
5 7 .8
5 8.1
5 8 .5
5 8 .7
5 9 .7
6 0 .4
6 0 .7
6 1 .1
6 L •4
6 1 .7
6 2 .1
6 2 .0
- 0 .0
1 .5
1 .1
1.8
4 .2
5 .4
6 .5
6 .6
7 .3
8 .4
7 .7
7 .5
|
1
1
1
I
j
|
|
f
|
|
I
1
8 0548.
816 22 .
83619.
84707.
85983.
86669.
8 82 64 .
88970.
8 9470.
8 98 19 .
903 69 .
906 16 .
!
!
j
J
!
!
!
J
|
!
|
!
i
1 0 .5
1 0 .7
1 2 .4
1 2 .5
1 3 .7
1 3 .9
1 4 .4
1 5 .2
1 5 .3
1 5 .3
1 5 .2
1 4 .0
!
!
!
|
!
|
!
!
|
!
!
!
■
6 2 .0
6 1 .8
6 0 .9
6 0 .2
6 0 .2
6 0 .3
6 0 .3
6 0 .8
6 1 .0
6 1 .9
6 2 .2
6 2 .4
7 .3
6 .4
4 .1
2 .4
0 .9
- 0 .2
- 0 .6
- 0 .5
- 0 .6
0 .4
0 .3
0 .6
|
!
|
l
|
!
!
|
I
j
|
f
•
91260.
91648.
920 20 .
92634.
93400.
942 45 .
9 36 42 .
94112.
9 50 40 .
9 57 62 .
9 61 00 .
96420.
1 3 .3
1 2 .3
1 0 .0
9 .4
8 .6
8 .7
6 .1
5 .8
6 .2
6 .6
6 .3
6 .4
|
1
6 3 .7
6 4 .1
2 .7
3 .8
|
f
980 91 .
98914.
!
!
|
|
!
!
!
!
!
1
|
!
II
|
J
7 .5
7 .9
* AVERAGE OUTSTANDING LOANS DURING THE PR EC ED IN G 12 MONTHS (AVERA GE OF END-OF-MONTH D A T A ).
2 6 .7
2 6 .9
2 7 .4
2 7 .5
2 8 .0
2 8 .2
2 8 .6
2 8 .6
2 8 .6
2 8 .5
2 8 .4
2 8 .2
|
\
3 8 4 .4
3 8 3 .8
3 7 7 .3
3 7 0 .4
3 7 0 .4
3 7 5 .7
3 8 1 .1
3 8 4 .1
3 8 5 .7
3 8 8 .7
3 9 1 .9
3 8 6 .4
TABLE 223.1
14
FED ERA L LAND BANKS
NEW MONEY LOANED
1 M IL L IO N S
OF
1
1 DOLLARS
1
1976—J A N . • • |
- F E B ...I
- M A R ...I
- A P R ...|
- M A Y ...|
- JU N ... I
- JU L ... |
- A U G ...|
- S E P ...1
- O C T ... |
- N O V ... |
- D E C ...!
I1
1977—J A N .. . |
- F E B ...!
- M A R ... !
- A P R ... f
- M A Y .. . |
- JU N ... I
- JU L .. . |
- A U G ...|
- S E P .. . |
- O C T ... j
- N O V ... j
- D E C ...I
i
1
1978—J A N .. • |
- F E B ...j
—MAR . . . |
—A P R . . . |
- M A Y .. . |
- JU N .. . |
- JU L .. . I
- A U G .. . |
- S E P ... |
- O C T .. . !
- N O V ... !
- D E C ...!
PERCENTAGE CHANGE
FROM PR E V IO U S
MONTH
3 2 5 .0
2 8 2 .5
4 4 0 .7
3 4 7 .3
2 9 4 .3
3 2 4 .2
2 9 8 .3
2 5 6 .1
2 5 5 .4
2 4 7 .6
2 7 8 .7
3 4 5 .5
!
|
|
I
|
I
|
|
|
1
|
I
«
4 .2
- 1 3 .1
5 6 .0
- 2 1 .2
- 1 5 .3
1 0 .2
- 8 .0
- 1 4 .1
- 0 .3
- 3 .0
1 2 .6
2 3 .9
3 7 6 .1
3 4 6 .2
5 5 1 .9
4 0 3 .9
4 0 5 .0
3 9 8 .7
3 8 2 .1
3 0 9 .8
2 8 9 .3
2 7 5 .4
3 2 4 .3
3 5 5 .8
|
1
|
f
!
|
1
|
1
I
1
!
1
1
|
I
I
1
|
!
!
1
|
|
I
8 .9
- 8 .0
5 9 .4
- 2 6 .8
0 .3
- 1 .6
- 4 .2
- 1 8 .9
- 6 .6
- 4 .8
1 7 .7
9 .7
4 0 9 .3
3 4 3 .7
4 9 0 .7
3 7 5 .8
4 5 3 .5
4 4 2 .3
3 6 5 .8
3 8 4 .5
3 4 7 .9
3 8 5 .3
3 7 3 .7
3 8 5 .6
1
1
1979—J A N . • • I
- F E B ...I
|
!
|
1
6 0 2 .3
4 2 7 .7
|
t
1
!
!
1 5 .0
- 1 6 .0
4 2 .8
- 2 3 .4
2 0 .7
- 2 .5
- 1 7 .3
5. 1
- 9 .5
1 0 .7
- 3 .0
3 .2
|
|
f
f
1
|
|
|
|
|
|
|
I
1
1
I
f
!
I
I
I
|
|
|
\
|
|
j
|
1
|
|
|
!
|
1
1
1
1
1
YEAR
- 2 .8
- 1 .8
1 9 .9
6 .7
- 6 .5
5 .9
1 0 .4
6 .3
2 .7
- 6 .2
3 5 .5
1 0 .7
!
!
!
!
I
1
1
I
!
!
1
!
i
2 .0
1 .7
2 .7
2 .1
1 .7
1 .9
1 .7
1 .5
1 .4
1 .4
1 .5
1 .9
!
!
!
!
!
!
!
!
|
!
!
!
8 2 .7
8 1 .5
8 3 .5
7 9 .6
8 0 .9
8 0 .0
8 1 .3
7 9 .8
7 9 .0
7 9 .0
7 9 .5
7 8 .9
1 5.7
2 2 .5
2 5 .2
1 6 .3
3 7 .6
2 3 .0
2 8 .1
2 1 .0
1 3 .3
1 1 .2
1 6 .3
3 .0
!
!
!
1
!
1
!
1
!
!
i
!
i
2 .0
1 .9
2 .9
2 .1
2 .1
2 .0
1 .9
1 .5
1 .4
1 .3
1 .5
1 .7
!
!
!
!
!
!
I
|
!
!
|
!
i
8 1 .1
8 0 .6
8 1 .3
7 7 .5
7 8 .1
7 8 .8
7 7 .6
7 6 .9
7 6 .2
7 6 .8
7 7 .4
7 9 .3
8 .8
- 0 .7
- 1 1 .1
- 6 .9
1 2 .0
1 0 .9
- 4 .3
24.1
2 0 .3
3 9 .9
15.2
8 .4
1
1
!
!
1
!
1
!
!
!
!
!
1
!
!
1 .9
1 .6
2 .2
1 .7
2 .0
1 .9
1 .6
1 .6
1 .5
!
1 . 6
!
!
1 .5
!
8 1 .4
7 9 .4
7 9 .3
7 6 .4
7 9 .5
7 9 .0
7 9 .2
8 0 .0
76. 5
7 9 .3
7 9 .5
7 9 .8
{
5 6 .2
- 2 9 .0
1
1
AS PERCENTAGE OF
1
1
1LOANS OUT-!
LOANS
1 S T A N D IN G *1 CLOSED
!
!
1
1
4 7 .2
2 4 .4
!
!
* OUTSTANDING LOANS AT END OF PRECEDING MONTH.
1 . 6
2 .4
1 .7
|
|
|
I
!
!
8 2 .0
8 0 .6
TABLE 223.3
LAND BANKS
NEW HONEY LO AN ED
T W E L V E - M O N T H MOVING TOTAL
FED ERA L
1 M IL L IO N S
OF
1
DOLLARS
I
1
1
!
|
!
3 4 6 8 .2
3 4 6 3 .2
3 5 3 6 .2
3 5 5 7 .9
3 5 3 7 .3
3 5 5 5 .5
3 5 8 3 .6
3 5 9 8 .7
3 6 0 5 .4
3 5 8 9 .1
3 6 6 2 .1
3 6 9 5 .6
|
{
!
!
!
!
!
i
!
|
!
!
i1
!
!
1
|
|
1
!
|
t
l
I
!
i
1 9 7 6 - JA N .* * !
- F E B ...|
- M A R ...!
- A P R . . .1
- M A Y ...!
- JU N ... I
- JU L ...1
- A U G ...I
- S E P ...!
—OCT. . . |
- N O V ...1
—D E C . . . j
i1
1977—J A N .• • |
- F E B ...I
- M A R ...1
- A P R . . .1
- M A Y ...!
- JU N ...1
- JU L .. . |
- A U G . . .1
- S E P ...!
- O C T ...!
- N O V ... !
- D E C ... I
I
1
1978—J A N . .•1
- F E B ...!
- M A R ... !
- A P R ...!
-M AY. . . 1
- JU N ...!
- J U L . . .1
- A U G ...!
- S E P ...!
- O C T ...1
- N O V ...!
- D E C ... !
t!
1979—J A N .••!
- F E B ...!
3 7 4 6 .6
3 8 1 0 .3
3 9 2 1 .5
3 9 7 8 .0
4 0 8 8 .7
4 1 6 3 .2
4 2 4 7 .1
4 3 0 0 .8
4 3 3 4 .7
4 3 6 2 .5
4 4 0 8 .0
4 4 1 8 .3
4 4 5 1 .5
4 4 4 9 .1
4 3 8 7 .9
4 3 5 9 .9
4 4 0 8 .4
4 4 5 2 .0
4 4 3 5 .7
4 5 1 0 .5
4 56 9.1
4 6 7 9 .0
4 7 2 8 .5
4 7 5 8 .2
|
!
!
!
|
|
I
i
I
|
!
1
1
4951 * 3 !
5 0 3 5 .3 !
PERCENTAGE CHANGE
FROM PR E V IO U S
MONTH
- 0 .3
- 0 .1
2. 1
0 .6
- 0 .6
0 .5
0 .8
0 .4
0. 2
-0. 5
2*. 0
0 .9
1 .4
1 .7
2 .9
1 .4
2 .8
1 .8
2 .0
1 .3
0 .8
0 .6
1 .0
0 .2
YEAR
!
1
1
1
!
I
!
!
!
1
1
!
I
ii
!
!
!
!
1
!
1
1
!
1
i
1
i1
!
!
!
!
!
!
!
1
!
!
0 .8
-0. 1
- 1 .4
- 0 .6
1 .1
1 .0
- 0 .4
1 .7
1 .3
2 .4
1 .1 \
0 .6 1
i1
4 .1
1 .7
!
!
2.4
o .i
0. 1
- 0 .2
- i.i
- i.i
0 .9
2 .5
3 .0
2 .6
6 .3
6 .3
8 .0
1 0 .0
1 0 .9
1 1 .8
1 5 .6
1 7 .1
1 8 .5
1 9 .5
2 0 .2
2 1 .5
2 0 .4
1 9 .6
|
AS PERCENTAGE OF
f
1LOANS OUT-j
LOANS
1 STA N D IN G *!
CLOSED
!
!
|
!
1
I
!
!
|
|
!
1
1
I
1
I
!
|
I
f
!
!
1
1
|
1
|
1 8 .8
1 6 .8
1 1 .9
9 .6
7 .8
6 .9
4 .4
4 .9
5 .4
7 .3
7 .3
7 .7
J
I
!
!
!
1
!
f
j
1
1
!
1 1 .2
1 3 .2
!
!
2 3 .2
2 2 .8
2 3 .0
!
!
I
i
|
|
|
f
|
!
!
!
tl
!
!
|
!
I
|
1
|
i
!
!
!
i
8 2.3
8 2.2
8 2.2
8 1 .9
8 1 .8
8 1 .6
8 1 .5
8 1 .3
8 1 .2
8 0 .9
8 1 .0
8 0 .6
2 2 .0 I
2 1 .8 (
2 1 .2 1
2 0 .8 f
2 0 .8 I
2 0 .8 f
2 0 .5 !
2 0 .6 !
2 0 .6 f
2 0 .9 |
2 0 .8 |
2 0 .7 !
8
2 1 .3 I
2 1 .4 f
7 8 .7
7 8 .6
7 8 .3
7 8 .2
7 8 .4
7 8 .4
7 8 .5
7 8 .8
7 8 .8
7 8 .9
79*1
7 9 .1
22.8
2 2 .4
22.2
2 2 .1
2 1 .9
2 1 .7
2 1 .3
2 1 .5
2 1 .5
2 1 .5
2 1 .6
2 2 .0
2 2 .0
2 2 .3
2 2 .5
2 2 .6
2 2 .6
2 2 .5
2 2 .4
2 2 .4
22.1
8 0 .5
8 0 .4
8 0 .2
8 0 .0
7 9 .7
7 9 .6
7 9 .3
79. 1
7 8 .9
7 8 .8
7 8 .6
7 8 .6
7 9 .3
7 9 .4
♦ AVERAGE OUTSTANDING LOANS DURING THE PRECEDING 12 MONTHS (AVERAGE OF END-OF-MONTH D ATA).
TABLE 224.1
16
FED ERA L
R EFIN A N C IN G
R EFIN A N C IN G
I M IL L IO N S
OF
I
1 DOLLARS
1
1 9 7 7 - JA N ...1
- F E B .. . !
- M A R ...!
- A P R .. . |
- M A Y . .. !
- JU N ... I
- JU L ... I
- A U G .. . |
—S E P . . . |
- O C T ...|
- N O V ... !
- D E C .. . |
8 7 .6
8 3 .3
1 2 7 .1
1 1 7 .4
1 1 3 .3
1 0 7 .3
lio .i
9 3 .1
9 0 .5
8 3 .2
9 4 .6
9 3 .1
i
I
197 8—J AN . . • !
- F E B ...J
- M A R .. . !
- A P R ... I
- M A Y . .. !
- JU N ...|
- JU L ...J
- A U G ... 1
- S E P ...!
- O C T ... |
- N O V ...!
- D E C ...!
!1
1979-J AN.• • !
-FEB. .. !
9 3 .4
8 9 .3
1 2 8 .2
1 1 6 .2
1 1 7 .2
1 1 7 .4
9 6 .1
9 6 .1
1 0 7 .0
1 0 0 .6
9 6 .6
9 7 .5
132.1
1 0 2 .9
!
S
!
!
|
1
I
j
|
!
!
!
- 4 .9
- 4 .9
5 2 .6
- 7 .6
- 3 .5
- 5 .3
2 .6
- 1 5 .4
!
- 2 . 8
J
- 8 .0
1 3 .7
- 1 .5
!
j
1
I
|
|
!
I
!
!
|
!
!
|
J
!
1
l
I
!
OF FED ERA L LAND BANK LOANS
PERCENTAGE CHANGE
FROM PR EV IO U S
MONTH
|
f
!
!
!
|
|
(
!
f
J
!
j
YEAR
29.1
2 9 .5
4 6 .2
3 1 .8
6 3 .2
3 2 .8
6 0 .0
4 4 .1
3 3 .3
2 6 .1
3 1 .7
1 .1
I
0 .3
- 4 .4
4 3 .6
- 9 .4
0 . 8
0 .2
- 1 8 .2
0 . 1
1 1 .3
- 6 .0
- 4 .0
1 . 0
3 5 .5
- 2 2 .1
LAND BANKS
AND REPAYMENTS
!
!
I
J
!
l
|
J
!
i
\
|
j
|
I
6 .6
7 .2
0 .9
- 1 . 0
3 .5
9 .4
- 1 2 .7
3 .3
1 8 .2
2 0 .8
2 .1
4 .7
4 1 .4
1 5 .3
REPAYMENTS
{
AS PERCENTAGE OF
!
! LOANS OUT—!
LOANS
f STA N D IN G *!
CLOSED
| M IL L IO N S
OF
1
1 DOLLARS
1
!
|
f
!
I
1
!
|
|
|
f
|
|
|
2 0 7 .6
1 1 7 .0
1 4 2 .9
1 0 9 .6
1 1 3 .3
1 2 5 .3
1 3 1 .5
9 2 .6
7 3 .5
9 2 .1
1 2 3 .1
1 4 7 .7
|
i
1
f
!
l
f
f
|
|
!
|
!
1
!
t
I
j
!
!
?
!
!
!
!
!
!
!
|
j
|
!
0 .4 7
0 .4 5
0 .6 7
0.61
0 .5 8
0 .5 4
0 .5 5
0 .4 6
0 .4 4
0 .4 0
0 .4 5
0 .4 4
0 .4 4
0 .4 1
0 .5 9
0 .5 2
0 .5 2
0 .5 1
0 .4 2
0 .4 1
0 .4 5
0 .4 2
0 .4 0
0 .4 0
0 .5 4
0 .4 1
|
i
1
!
1
!
!
!
f
!
1
I
1
I
|
I
f
!
!
I
!
|
!
!
I
|
j
|
!
1 8 .9
1 9 .4
1 8 .7
2 2 .5
2 1 .9
2 1 .2
2 2 .4
2 3 .1
2 3 .8
2 3 .2
2 2 .6
2 0 .7
1 8 .6
2 0 .6
2 0 .7
2 3 .6
2 0 .5
2 1 .0
2 0 .8
£ o .o
2 3 .5
2 0 .7
2 0 .5
2 0 .2
1 8 .0
1 9 .4
|
i
!
I
!
I
|
i
|
!
|
I
|
I
|
|
|
|
!
|
j
*
|
2 0 3 .4
120 .2
1 5 2 .3
1 2 9 .2
1 2 7 .6
1 1 8 .3
1 0 1 .9
1 0 1 .5
8 6 .8
1 1 3 .1
123^.9
1 7 8 .3
2 1 7 .4
1 2 3 .0
|
!
I
I
j
!
!
!
|
f
I
1
|
I
1
|
!
i
|
|
PERCENTAGE CHANGE
FROM PR E V IO U S
MONTH
|
4 6 .7
- 4 3 .6
2 2 .1
- 2 3 .3
3 .3
1 0 .6
5 .0
- 2 9 .6
- 2 0 .5
2 5 .3
3 3 .6
2 0 .0
!
{
|
I
|
I
|
I
1
f
i
f
1
3 9 .3
1 3 .8
2 9 .5
8 .6
3 9 .9
5 5 .6
6 7 .0
2 7 .6
- 7 .3
1 2.1
1 5 .9
4 .4
3 7 .8
- 4 0 .9
2 6 .7
- 1 5 .2
- 1 .3
- 7 .2
- 1 3 .9
- 0 .4
- 1 4 .4
3 0 .2
9 .6
4 3 .9
i
1
f
- 2 .0
2 .7
6 .6
1 7 .9
1 2 .6
- 5 .6
- 2 2 .5
9 .7
1 8 .1
2 2 .7
0 .6
2 0 .7
2 1 .9
- 4 3 .4
1
I
1
!
|
|
f
I
|
i
I
1
|
* OUTSTANDING LOANS AT END OF PR EC ED IN G MONTH.
'’ R EFIN A N C IN G OF FED ERA L LAND BANK LOANS” I S COMPUTED AS LOANS CLOSED L E S S NEW MONEY LOANED.
"R EPA Y M EN T S” ARE COMPUTED AS NEW MONEY LOANED L E S S THE CHANGE IN LOANS O UTSTANDING.
YEAR
6 .9
2 .3
I
AS PER ICEN TAGE OF
I LOANS OUTI ST A N D IN G *!
i
!
!
!
|
!
|
!
!
1
[
!
i
!
|
!
|
!
!
!
|
!
!
V
1
1
I
|
i
1 .1 2
0 .6 3
0 .7 6
0 .5 7
0 .5 8
0 .6 3
0 .6 5
0 .4 5
0 .3 6
0 .4 4
0 .5 8
0 .6 9
0 .9 5
0 .5 5
0 .7 0
0 .5 8
0 .5 7
0 .5 2
0 .4 4
0 .4 3
0 .3 7
0 .4 7
0 .5 1
0 .7 3
0 .8 8
0 .4 9
17
T A BL E 224.3
FEDERAL LAND BANKS
R E F I NA NC IN G AND RE P A Y M E N T S
T W E L V E - M O N T H MOVING TOTAL
R EFIN A N C IN G OF FED ERA L LAND BANK LOANS
1 M IL L IO N S
OF
1
DOLLARS
f
!
!
|
|
!
9 0 9 .5
9 2 8 .5
9 6 8 .6
9 9 7 .0
1 0 4 0 .9
1 0 6 7 .3
1 1 0 8 .6
1 1 3 7 .1
1 1 5 9 .7
1 1 7 6 .9
1 1 9 9 .7
1 2 0 0 .7
!
!
!
!
J
!
!
!
!
!
!
!
I
1977—J A N .••I
- F E B ...!
- M A R ...!
- A P R ...!
- M A Y ...!
- JU N ...!
- JU L ...!
- A U G ...!
- S E P ...!
- O C T ...!
- N O V ...!
- D E C ...!
i
I
1978—J A N . ••!
- F E B ...!
- M A R .. . j
—A P R ...!
- M A Y ...|
- JU N ...1
- JU L ...!
- A U G ...!
- S E P ...!
- O C T ...!
- N O V ...!
- D E C ...!
1
i
1979-J A N . . . !
- F E B ...!
*
1 2 0 6 .5
1 2 1 2 .5
1 2 1 3 .6
1 2 1 2 .4
1 2 1 6 .3
1 2 2 6 .4
1 2 1 2 .4
1 2 1 5 .4
1 2 3 1 .9
1 2 4 9 .2
1 2 5 1 .2
1 2 5 5 .5
1 2 9 4 .3
1 3 0 7 .9
1
!
1
!
!
|
!
J
|
!
|
!
!
|
|
PERCENTAGE CHANGE
FROM PR EV IO U S
MONTH
2 .2
2 .1
4 .3
2 .9
4 .4
2 .5
3 .9
2 .6
2 .0
1 .5
1 .9
o .i
0 .5
0 .5
o .i
- o .i
0 .3
0 .8
- l.i
0 .2
1 .4
1 .4
0 .2
0 .3
3 .1
1 .1
!
!
!
!
|
)
!
I
!
1
!
1
!
i
i
!
!
!
!
!
!
!
1
!
!
!
!
I
!
1
YEAR
2 1 .9
2 3 .6
2 6 .4
2 7 .1
3 1 .9
3 2 .8
3 6 .6
3 7 .2
3 8 .9
3 9 .3
3 9 .4
3 5 .0
3 2 .7
3 0 .6
2 5 .3
2 1 .6
1 6 .9
14.9
9 .4
6 .9
6 .2
6 .1
4 .3
4 .6
7 .3
7 .9
R E PA YM EN TS
AS PERCENTAGE OF
1
!
! LOAN S OUT-!
LOANS
CLOSED
! STA N D IN G *!
1
1
1
1
!
!
1
!
!
!
!
1
i
1
1
1
1
!
!
1
1
!
!
1
!
!
ti
!
1
5 .2
5 .3
5 .4
5 .5
5 .7
5 .8
5 .9
6 .0
6 .0
6 .0
6 .1
6 .0
j
!
|
!
!
|
!
!
!
!
!
!
I
! M IL L IO N S |
OF
!
!
!
DOLLARS !
!
!
PERCENTAGE CHANGE
FROM PR EV IO U S
MONTH
1 9.5
1 9 .6
19.8
2 0 .0
2 0 .3
2 0 .4
2 0 .7
2 0 .9
2 1.1
2 1 .2
2 1 .4
2 1 .4
1 2 4 3 .8 J
125 8.0 |
1 2 9 0 .5 !
1299.2 |
1 3 3 1 .4 !
137 6.2 !
1 4 2 9 .0 !
1 4 4 9 .0 !
1 44 3.2 |
1 4 5 3.1 1
1470.1 !
147 6.2 |
1
4 .9
1. 1
2 .6
0 .7
2 .5
3 .4
3 .8
1 .4
- 0 .4
0 .7
1 .2
0 .4
i
6 .0 !
5 .9 )
5 .9 !
5 .8 !
5 .7 !
5 .7 !
5 .6 !
5.5 !
5 .6 !
5 .6 |
5 .5 !
5.5 !
i
1
I
!
1
!
!
!
)
|
I
!
|
j
2 1 .3
2 1 .4
2 1 .7
2 1 .8
2 1 .6
2 1 .6
2 1 .5
2 1 .2
2 1 .2
2 1 .1
2 0 .9
2 0 .9
!
!
!
1 4 7 2 .0
1 47 5.3
1 4 8 4 .7
1 5 0 4 .3
1 5 1 8 .6
1 5 1 1 .6
1 4 8 2 .0
1 49 0.9
1504.2
1525.1
1 5 2 5 .9
1 5 5 6 .5
- 0 .3
0 .2
0 .6
1 .3
l.o
- 0 .5
- 2 .0
0 .6
0 .9
1 .4
o .i
2 .0
5 .6
5 .6
2 0 .7
2 0 .6
!
!
l
!
!
!
!
!
|
!
!
|
!
!
1 57 0.5
157 3.2
I
!
I
|
J
!
J
!
|
|
J
!
tI
!
|
0 .9
0 .2
I
!
J
!
!
!
!
!
J
!
I
!
!
1
1
!
!
!
!
!
!
!
!
!
1
!
!
1
!
!
AVERAGE OUTSTANDING LOANS DURING THE PR EC ED IN G 12 MONTHS (AVERAGE OF END-OF-MONTH D A T A ).
"R E F IN A N C IN G OF FED ERA L LAND BANK LO ANS" I S COMPUTED AS LOANS CLOSED L E S S NEW MONEY LOANED.
"R E P A Y M E N T S " ARE COMPUTED AS NEW MONEY LOANED L E S S THE CHANGE IN LOANS OUTSTANDING.
YEAR
AS P E R
CENTAGE OF
LOANS OUT
STAND IN G*
3 3.1
2 9 .3
2 7 .1
2 3 .4
2 4 .4
2 6 .2
2 9 .2
2 8 .8
2 6 .5
2 6 .0
2 4 .7
2 4 .6
7 .1
7 .1
7 .2
7 .2
7 .3
7 .4
7 .6
7 .6
7 .5
7 .5
7 .5
7 .4
1 8 .4
1 7 .3
1 5 .0
1 5 .8
1 4.1
9 .8
3 .7
2 .9
4 .2
5 .0
3 .8
5 .4
7 .3
7 .2
7 .2
7 .2
7 .2
7 .1
6 .8
6 .8
6 .8
6 .8
6 .7
6 .8
6 .7
6 .6
6 .8
6 .7
AGRICULTURAL FINANCE DATABOOK— MONTHLY SERIES
230
L IF E
231
INSURANCE COMPANIES
FARM MORTGAGES OUTSTANDING
2 31.1
232
ACTUAL...................................................................................................................................... 19
FARM MORTGAGES ACQUIRED
2 3 2 .1
2 3 2 .3
233
MARCH 1979
ACTUAL...................................................................................................................................... 20
12-MONTH MOVING TO TAL................................................................................................... 21
FARM MORTGAGE COMMITMENTS OUTSTANDING
2 3 3 .1
SO U RC ES:
ACTUAL................................
F IG U R E S ON FARM MORTGAGES OUTSTANDING AND ACQUIRED ARE DRAWN FROM
" D IS T R IB U T IO N OF IN VESTM ENTS OF U . S . L I F E INSURANCE C O M P A N IE S ,"
AMFRICAN COUNCIL OF L I F E IN SU R A N C E.
F IG U R E S ON FARM MORTGAGE COMMITMENTS OUTSTANDING ARE DRAWN FROM
"FORWARD INVESTM ENT COMMITMENTS OF REPO RTIN G L I F E INSURANCE
C O M P A N IE S ," AMERICAN COUNCIL OF L I F E IN SU R A N C E.
22
18
TA BL E 231.1
19
LIFE INSURANCE C O M P AN IE S
FARM M O R T G A G E S OU TS T A N D I N G
END OF MONTH
1
1
!
!
1
MILLIONS
AMOUNT
OF
DO L L A R S
! CHANGE FROM
J
MONTH
!
1
1 9 7 6 —J A N . • • 1
-F E B ...|
-M A R... |
- A P R ...!
-M A Y...|
-JU N ...!
-JU L ... |
-A U G ...|
—S E P • • • |
—O C T . . . |
-N O V ... |
—DEC . . . |
j
6731.
6769.
6815.
6876.
694-6 •
7005.
7072.
7127.
7184.
7219.
7291.
7425.
I
|
!
!
!
!
!
!
!
!
!
|
-22.
38.
46.
61.
70.
59.
67.
55.
57.
35.
72.
134.
1977-J A N ...|
- F E B . ..1
-M A R... |
-A P R .. . |
-M A Y... j
-JU N ...I
-JU L ...|
—AUG . . . |
-S E P ... |
—O C T . . . |
-N O V ... |
-D EC ... |
i
I
1 9 7 8 —J A N . • • 1
-F E B ...!
-M A R... j
-A P R ...I
-M A Y ...|
-JU N ...I
-JU L...|
-A U G ...I
-S E P ...|
-O C T ...!
-N O V ...!
7434.
7510.
7640.
7814.
7924.
8139.
8235.
8330.
8475.
8570.
8649.
8842.
!
!
!
J
!
1
!
!
!
!
J
!
i
1
!
1
|
f
!
i
|
J
f
9.
76.
130.
174.
110.
215.
96.
95.
145.
95.
79.
193.
- D E C ...!
i
1
1979-JA N ...!
8891.
9012.
9210.
9379.
9517.
9703.
9820.
9956.
10105.
10263.
10352.
10371.
10392.
!
!
f
i
1
|
49.
121.
198.
169.
138.
186.
117.
136.
149.
158.
89.
19.
21.
1
!
!
I
1
!
|
!
!
!
1
!
1
1
i
f
1
!
!
!
!
!
J
!
1
i
I
1
!
!
!
f
!
|
!
J
1
PREVIOUS!
!
YEAR
!
o .i
l.o
!
S
1.7
2.3
1.4
2.7
1 .2
1.2
1.7
l.l
0.9
2 .2
!
[
I
!
!
|
!
!
1
!
if
!
!
i
f
!
!
!
10.4
10.9
12.1
13.6
14. 1
16.2
16.4
16.9
18.0
L8.7
18.6
19.1
703.
741.
825.
938.
978.
1134.
1163.
1203.
1291.
1351.
1358.
1417.
!
!
1
!
!
!
!
I
!
!
!
!
(i
!
!
|
f
i
!
!
1501.
YEAR
6. 8
5.9
6.0
5.7
6.2
6 .6
7.4
7.9
8.3
8.4
9 .2
10.0
-0.3
0.6
0.7
0 .9
{
t
!
!
!
!
!
I
!
!
I
|
!
|
l
1
i
!
!
!
!
|
f
!
1
|
!
!
!
i
|
!
f
MONTH
431.
375.
387.
372.
403.
432.
488.
521.
553.
558.
« 612.
672.
1457.
1502.
1570.
1565.
1593.
1564.
1585.
1626.
1630.
1693.
1703.
1529.
!
!
P E R C E N T AGE CHANGE
FROM P R E V I O U S
l.o
0.8
1.0
0 .8
0.8
0.5
1.0
1.8
f
0 .9
0 .2
!
!
!
!
!
19.6
20.0
20.5
20.0
20.1
19.2
19.2
19.5
19.2
19.8
19.7
17.3
!
0.2
!
16.9
!
!
!
!
0 .6
1.4
2.2
1.8
1.5
2.0
1.2
1.4
1.5
1 .6
1
i
TABLE 232*1
LIFE INSURANCE CO MP AN IE S
FARM MO R T G A G E S A C QU IR ED
I
1
I
1
I
MILL IO NS OF DOLLARS
AMOUNT
100.
116.
136.
128.
125.
131.
138.
106.
123.
79.
116.
242.
160.
156.
233.
256.
214.
278.
168.
188.
209.
144.
135.
319.
200.
206.
2 84.
271.
251.
273.
203.
204.
223.
211.
153.
230.
184.
|
|
I
|
I
j
|
I
|
I
t
1
1
1
|
I
I
|
!
I
I
j
|
1
|
I
i
1
|
1
|
1
|
j
j
|
!
I
|
|
1
j
-53.
16.
20.
—8•
-3.
6.
7.
-32.
17.
-44.
37.
126.
-82.
-4.
77.
23.
-42.
64.
-110.
20.
21.
-65.
-9.
184.
-119.
6.
78.
-13.
-20.
22.
-70.
1.
19.
-12.
-58.
77.
-46.
|
|
|
|
I
1
|
1
1
!
’
1
|
|
|
|
|
I
!
|
|
1
|
|
I
|
!
|
|
1
I
i
1
1
f
f
|
I
|
1
P E RC EN TA GE CH AN GE
FROM P R EV IO US
MONTH
20. !
-48. !
17. 1
8. !
50. !
56. i
83. !
53. I
61. |
25. !
51. !
89. !
1
1
60. f
40. !
97. J
128. |
89. !
147. f
30. |
82. |
86. !
65. J
19. |
77. f
i
40. I
50. !
51. !
15. 1
37. !
-5. 1
35. |
16. |
14. !
67. |
18. 1
-89. |
i
-16. \
* O U T S T A N D I N G MO RTGAGES AT END OF P R E C E D I N G MONTH.
- 3 4. 6
16.0
17.2
-5.9
-2.3
4.8
5.3
-23.2
16.0
-35.8
46.8
108. 6
-3 3. 9
-2.5
49.4
9.9
-1 6 . 4
29.9
-39.6
11.9
11.2
-31.1
-6.3
136.3
-37.3
3.0
37.9
-4.6
-7 .4
8.8
-25.6
0.5
9.3
-5.4
- 2 7. 5
50.3
-2 0 . 0
!
!
!
|
|
|
!
|
1
i
{
\
f
1
i
|
|
!
!
1
|
|
1
!
I
|
|
i
1
1
I
!
|
\
1
|
I
1
|
1
i
1
YEAR
AS P E R
C E N T A G E OF
MORTGAGES
O U T
ST AN D I N G *
25.0
-2 9. 3
14.3
6.7
66.7
74.7
150.9
100.0
98.4
46.3
78.5
58.2
1.5
1.7
60.0
34.5
71.3
100.0
71.2
112.2
21.7
77.4
69.9
82.3
16.4
31.8
2.2
25.0
32.1
21.9
5.9
17.3
-1.8
20.8
8.5
6.7
46.5
13.3
-27.9
0
•
00
1
1976— J A N . • • |
-FEB...|
-MAR... I
-APR... |
-MAY...|
-JUN...I
-JUL...!
-AUG...I
-SEP...|
-OCT... I
-NOV.. . I
-DEC...!
1
1
19 77 -J A N . • • I
-FEB...|
-MAR... |
-APR...I
-MAY...|
-JUN...|
-JUL...I
- A U G . . .1
-SEP...!
-OCT...|
-NOV...|
-DEC...|
1
1
1978-J A N . • • I
- F E B ...|
-MAR...|
-APR...|
-MAY... |
-JUN... j
- JUL• . ♦ \
-AUG...|
-SEP...|
— OCT ... |
-NOV...!
-DEC.. .1
i
1979-J A N . ••!
f
1
1 CH AN GE FROM PREVIOUS!
f
!
MONTH
f
Y E AR
1
1
2.0
1.9
1.8
1.9
2 .0
1.5
1.7
1.1
1.6
3.3
2.1
3.1
3.4
2.7
3.5
2.1
2.3
2.5
1.7
1.6
3.7
2.3
2.3
3.2
2.9
2.7
2.9
2.1
2.1
2.2
2.1
1.5
2.2
1.8
T A B L E 232.3
21
LI FE INSURANCE CO MP A N I E S
FARM M O RT GA GE S A C QU IR ED
T W E L V E - M O N T H MOVING TOTAL
1
1
1
1
1
1976—J A N . • • |
- F E B ...I
- M A R ... |
- A P R ...|
- M A Y ...I
- JU N ...!
- JU L ...I
-A U G . . . |
- S E P ...I
-O CT. . . )
- N O V ...|
- D E C ...j
M IL L IO N S OF DOLLARS
AMOUNT
1095.
1047.
1064.
1072.
1122.
1 17 8.
1 261.
1314.
1375.
1 40 0.
1 451.
1540.
i
1977—J A N . • • I
- F E B .. . |
- M A R ...j
- A P R ...!
- M A Y .. .|
- J U N . . .1
L ••.1
- A U G ...I
—S E P • •• |
- O C T ...I
- N O V ...!
—DEC . . . I
—J U
!
!
1600.
1640.
1737.
1 86 5.
1954.
2101.
2131.
2213.
2 29 9.
2364.
2 38 3.
2460.
i
1 9 7 8 - JA N .•.1
- F E B ...!
- M A R ...!
- A P R ...!
- M A Y ...!
- JU N ...!
—J U L . . . 1
- A U G ...!
- S E P ...!
- O C T ...!
- N O V ...!
- D E C ...!
j
2 50 0.
2550.
2601.
2 61 6.
2653.
2648.
2 68 3.
2699.
2713.
2780.
2798.
2709.
1979—J A N . • . !
2693.
1 CHANGE FROM P R E V IO U S !
1
!
MONTH
1
YEAR
1
!
!
!
!
!
!
!
|
!
I
!
!
!
j
!
!
!
!
!
!
!
1
!
!
!
!
1
!
!
!
!
!
!
!
!
!
!
J
|
i
!
20.
-48.
17.
8.
50.
56.
83.
53.
61.
25.
51.
89.
60.
40.
97.
128.
89.
147.
30.
8 2.
86.
6 5.
19.
77.
40.
50.
51.
15.
37.
-5.
35.
16.
14.
67.
18.
-89.
-16.
!
|
!
!
|
!
!
|
!
!
!
|
i
!
!
!
{
!
J
!
!
!
|
!
!
|
!
J
!
!
!
|
!
!
!
J
!
!
I
!
97.
-51.
-29.
-49.
21.
99.
223.
296.
3 50 .
393.
432.
465.
J
I
!
J
!
|
!
!
!
!
!
!
i
5 05 . 1
5 93. !
673. 1
7 93 . !
832. !
923. !
870. 4
899. !
9 24 . !
964. |
932. !
920. !
900.
910 .
8 64 .
751.
699.
5 47 .
552.
486.
414.
416.
415.
249.
193 .
1
l
!
!
!
!
*
!
!
|
!
!
!
!
1
1
!
PERCENTAGE CHANGE
FROM PR E V IO U S
MONTH
|
YEAR
!
1 .9
- 4 .4
1 .6
0 .8
4 .7
5 .0
7 .0
4 .2
4 .6
1 .8
3 .6
6 .1
3 .9
2 .5
5 .9
7 .4
4 .8
7 .5
1 .4
3 .8
3 .9
2 .8
0 .8
3 .2
1
|
|
!
!
J
!
!
!
!
!
!
i
!
!
|
!
!
!
1
!
!
J
!
!
i
1 .6
2 .0
2 .0
0 .6
1 .4
- 0 .2
1 .3
0 .6
0 .5
2 .5
0 .6
- 3 .2
!
- 0 .6
!
1
!
!
!
!
1
!
!
!
!
!
i
4 6 .1
5 6 .6
6 3 .3
7 4 .0
7 4 .2
7 8 .4
6 9 .0
6 8 .4
6 7 .2
6 8 .9
6 4 .2
5 9 .7
5 6 .3
5 5 .5
4 9 .7
4 0 .3
3 5 .8
2 6 .0
2 5 .9
2 2 .0
1 8 .0
1 7 .6
1 7 .4
1 0 .1
l
♦ AV E R A G E O U T S T A N D I N G MO RT G A G E S DU R I N G THE PR E C E D I N G 12 MONTHS
9 .7
- 4 .6
- 2 .7
- 4 .4
1 .9
9 .2
2 1 .5
2 9 .1
3 4 .1
3 9 .0
4 2 .4
4 3 .3
7 .7
AS PERCENTAGE OF
i MORTGAGES
(
OUT1 STA N D IN G*!
|
!
|
!
|
1
!
!
!
1
(
f
{
!
i
j
|
j
!
|
!
(
!
!
J
1
j
j
|
!
!
l
|
!
J
!
!
f
!
!
i
1
1 6 .7
1 5 .9
16.1
16.1
1 6 .8
1 7 .5
1 8 .7
1 9 .3
20.1
2 0 .3
2 0 .9
22.1
2 2 .7
2 3.1
2 4 .3
2 5 .8
2 6 .7
2 8 .4
2 8 .5
2 9 .2
2 9 .9
3 0 .4
3 0 .2
3 0 .7
3 0 .7
3 0 .9
3 1 .1
3 0 .7
3 0 .7
3 0 .2
3 0 .1
2 9 .9
2 9 .6
2 9 .9
2 9 .6
2 8 .3
2 7 .7
(AVERAGE OF EN D- O F - M O N T H DATA)
TABLE 233.1
22
LIFE INSURANCE COMPANIES
OUTSTANDING FARM MORTGAGE COMMITMENTS
END OF MONTH
1
1
1
1
1
M IL L IO N S OF DOLLARS
AMOUNT
1 9 7 6 - JA N ...!
- F E B .. . |
- M A R ...I
—A P R .• • f
- M A Y ...1
- JU N ...I
- JU L ...I
- A U G ...1
-SEP . . . |
- O C T ... I
- N O V ...|
- D E C ... |
|
4 6 6 .0
4 7 7 .0
4 7 9 .0
5 0 1 .0
4 8 2 .0
4 9 0 .0
4 8 7 .0
4 9 4 .0
5 2 0 .0
5 8 2 .0
5 9 2 .0
5 5 3 .0
1977—J A N .• • |
- F E B .. . |
- M A R ... |
- A P R ... |
- M A Y ...1
- JU N ...I
- JU L ...I
- A U G ...|
- S E P ...!
- O C T ...I
- N O V ...|
- D E C ... |
1
5 6 7 .0
6 1 4 .0
6 0 3 .0
6 6 3 .0
6 8 0 .0
6 7 1 .0
6 7 3 .0
6 9 6 .0
7 4 5 .0
7 6 9 .0
7 8 2 .0
7 6 8 .0
1
1 9 7 8-J A N .. . |
- F E B ...!
-MAR...!
-APR.. . |
- M A Y ...!
- JU N ...|
- JU L ...!
- A U G .. . !
- S E P ... !
- 0 C T ...I
- N O V ... !
- D E C . . .1
7 4 2 .0
8 1 8 .0
8 2 7 .0
8 4 6 .0
8 0 0 .0
8 6 9 .0
8 5 6 .0
8 4 1 .0
8 6 2 .0
I
1
! CHANGE FROM P R E V IO U S !
!
!
MONTH
f
YEAR
|
!
|
!
I
!
!
!
!
!
!
!
1
!
1
I
I
!
{
!
!
!
!
|
!
1
!
!
1
I
I
!
j
{
|
!
!
!
!
800.0 j
882.0 |
912.0 I
PERCENTAGE CHANGE
FROM PR EV IO U S
MONTH
|
1
YEAR
|
AS PERCENTAGE
|
OF MORTGAGES
I
!
OUT! ACQUIRED
1 STANDING | IN MONTH
7 .0
1 1 .0
2 .0
2 2 .0
- 1 9 .0
8 .0
- 3 .0
7 .0
2 6 .0
6 2 .0
1 0 .0
- 3 9 .0
!
!
!
1
I
|
|
!
|
|
!
!
- 3 0 .0
- 2 3 .0
1 3 .0
7 1 .0
6 9 .0
9 1 .0
8 8 .0
8 9 .0
8 2 .0
1 0 9 .0
8 6 .0
9 4 .0
f
!
!
!
!
!
!
!
|
!
!
»
j
1 .5
2 .4
0 .4
4 .6
- 3 .8
1 .7
- 0 .6
1 .4
5 .3
1 1 .9
1 .7
- 6 .6
|
!
|
f
!
|
!
|
|
!
!
|
1
- 6 .0
- 4 .6
2 .8
1 6 .5
1 6 .7
2 2 .8
2 2 .1
2 2 .0
1 8 .7
2 3 .0
1 7 .0
2 0 .5
!
!
!
j
!
|
|
!
I
!
|
!
I
6 .9
7 .0
7 .0
7 .3
6 .9
7 .0
6 .9
6 .9
7 .2
8 .1
8 .1
7 .4
J
!
|
1
!
!
!
!
!
|
!
!
■
4 6 6 .0
4 1 1 .2
3 5 2 .2
3 9 1 .4
3 8 5 .6
3 7 4 .0
3 5 2 .9
4 6 6 .0
4 2 2 .8
7 3 6 .7
5 1 0 .3
2 2 8 .5
1 4 .0
4 7 .0
- li.o
6 0 .0
1 7 .0
- 9 .0
2 .0
2 3 .0
4 9 .0
2 4 .0
1 3 .0
- 1 4 .0
J
!
!
io i. o
1 3 7 .0
1 2 4 .0
1 6 2 .0
1 9 8 .0
1 8 1 .0
1 8 6 .0
2 0 2 .0
2 2 5 .0
1 8 7 .0
1 9 0 .0
2 1 5 .0
!
!
|
2 .5
8 .3
- 1 .8
1 0 .0
2 .6
- 1 .3
0 .3
3 .4
7 .0
3 .2
1 .7
- 1 .8
|
|
!
2 1 .7
2 8 .7
2 5 .9
3 2 .3
4 1 .1
3 6 .9
3 8 .2
4 0 .9
4 3 .3
3 2 .1
3 2 .1
3 8 .9
i
!
!
7 .6
8 .2
7 .9
8 .5
8 .6
8 .2
8 .2
8 .4
8 .8
9 .0
9 .0
8 .7
!
!
3 5 4 .4
3 9 3 .6
2 5 8 .8
2 5 9 .0
3 1 7 .8
2 4 1 .4
4 0 0 .6
3 7 0 .2
3 5 6 .5
5 3 4 .0
5 7 9 .3
2 4 0 .8
1 7 5 .0
2 0 4 .0
2 2 4 .0
1 8 3 .0
1 2 0 .0
1 98 .0
1 8 3 .0
1 4 5 .0
1 1 7 .0
3 1 .0
1 0 0 .0
1 4 4 .0
!
!
!
!
- 3 .4
1 0 .2
1 .1
2 .3
- 5 .4
8 .6
- 1 .5
- 1 .8
2 .5
- 7 .2
1 0.2
3 .4
1
|
!
!
!
!
!
|
!
!
1
1
- 2 6 .0 !
7 6 .0
9 .0
1 9 .0
- 4 6 .0
6 9 .0
- 1 3 .0
- 1 5 .0
2 1 .0
- 6 2 .0
8 2 .0
3 0 .0
f
!
!
|
!
|
f
!
!
!
!
|
!
!
|
!
!
!
!
|
j
1
!
|
!
|
!
t
!
!
1
!
|
!
!
|
!
|
l
|
1
!
1
!
|
!
!
1
1
!
3 0 .9
3 3 .2
3 7 .1
2 7 .6
1 7 .6
2 9 .5
2 7 .2
2 0 .8
1 5 .7
4 .0
1 2 .8
1 8 .8
!
!
!
!
!
!
!
!
!
!
|
!
!
J
!
!
!
!
|
1
|
8 .3
9 .1
9 .0
9 .0
8 .4
9 .0
8 .7
8 .4
8 .5
7 .8
8 .5
8 .8
!
!
!
!
I
!
!
!
!
I
j
!
|
!
!
!
!
!
1
1
!
!
!
3 7 1 .0
3 9 7 .1
2 9 1 .2
3 1 2 .2
3 1 8 .7
3 1 8 .3
4 2 1 .7
4 1 2 .3
3 8 6 .5
3 7 9 .1
5 7 6 .5
3 9 6 .5
A G RIC U lTU R A L
300
AGRICULTURAL
301
AMOUNT AND CHANGE FROM PREVIOUS YEAR.,.............................. 2*
SFASONAL
302.1
310
AND AVER AGF D A ILY
D IS T R IC T S
BORROWING. • . •..................... ............ . . 2 5
BANKS
7 AND 9
PERCENTAGE CHANGE FROM' PR E V IO U S Y EA R ,
FED ERA L
3 1 2 .3
BY MEMBER BANKS
AND LOANS AT AGRICULTURAL
FED ERA L R ES E R V F
311.3
312
BORROWING
NUMBER OF BANKS
D E P O S IT S
311
RANKING DATA
FARM NON-RCAl-CSTATC LOANS
30K1
302
MARCH 1970
FIN AN C E DATABOOK— MONTHLY S F R I f S
R ES E R V E
D IS T R IC T
AND LO A N /D FPO SIT R A T IO ..........26
6 AND TEXAS
PERCENTAGE CHANGE FROM PR E V IO U S YEA R ,
AND LO A N /D EPO SIT R A T IO ..........27
FOR INFORMATION ON THE D ESIG N OF THE SEASONAL BORROWING P R IV IL E G E FOR WHICH
OATA ARE SHOWN IN SEC T IO N 3 0 2 , AND ALSO AN A N A LY S IS OF IT S PO T EN T IA L AND
ACTUAL USE BY A G RICULTURAL BAN KS, S E E ’'SEA SO N AL BORROWING AT THE FEDERAL
R E S E R V E OIS.COUNT WINDOW," BY EMANUEL M ELICHAR AND H A R R IET H O LD ERN ESS,
OCTOBER 1 9 ? * , P P . * 2 - 5 1 .
FOR A B R IE F D IS C U S S IO N OF THE A N A LYTICAL VALUE OF THE OATA IN SEC TIO N 310, SE E
THE SE C T IO N E N T IT L E D "FREQ UEN T D E PO SIT AND LOAN DATA" IN "O V ER A LL MEASURES OF
F IN A N C IA L PERFO RM AN C E," BY EMANUEL M ELIC H A R , A£El£ULIUBAL-ElNANCE-JLE¥I£kl*
FEBR U A RY 1977, P P . 87-80.
23
24
TABLE 301 •1
FARM NO N -REAL-ESTATE LOANS AT COMMERCIAL
(EN D OF MONTH)
!
1
LARGE
1
BANKS
1
1IM IL L IO N S
OF
1
1 D O LLA RS)
1977-J A N .• • |
-FEB . . . 1
- M A R ...|
- A P R ...!
- M A Y ...I
- JU N ...!
- JU L ...I
- A U G ...I
- S E P ...|
-O CT. . . !
- N O V ... |
- D EC . . . I
II
1978-J A N . . . I
- F F B . .. 1
- M A R ... |
- A P R .. . !
-MAY---I
- JU N ...!
- JU I . . . !
- A U G .. . !
- S E P ...|
- O C T ... |
- N O V ...!
- D E C .. . !
1
3520.
3474.
3575.
3 67 0.
3801.
3936.
3971.
3951.
3 98 4.
3977.
3907.
392 8 •
1 9 7 9 - JA N ...1
-FI B . . . !
- M A R ... !
4470.
4440.
4577.
3 83 7.
3776.
3907.
4002.
4 19 5.
4303.
4 37 6.
4476.
4464.
4 5 1 ?.
4 4 5 ?.
4511.
BANKS
AMOUNT
!
CHANGE FROM PR EV IO U S YEAR
!
!
1
! *L L COMMERCIAL BANKS!
LARGE
! ALL COMMERCIAL BAN KSI
! ( B IL L IO N S OF D O L L A R S )!
BANKS
! ( B IL L IO N S OF D O LL A R S)f
|
! (M IL L IO N S 1
!
OF
!
ACTUAL
! SEA SO N A LLY!
(SE A S O N A LLY !
1 ACTUAL
|
1 A D JUSTED !
\ A DJUSTED ! D O LLARS)
!
!
!
)
!
!
!
!
j
!
|
!
I
|
J
!
!
!
|
!
!
I
!
]
|
!
1
1
J
!
!
2 3 .2
2 3 .3
2 3 .7
24. 3
2 4 .9
25. 6
2 5 .9
2 6 .1
26. 3
2 6 .1
2 5 .9
2 5 .7
!
1
!
!
1
!
I
1
!
!
!
!
ii
!
!
2 5 .5 1
!
!
2 7 .0 !
!
!
2 8.1 !
!
1
28. 1 !
■
I
I
I
|
2 3 .6
2 3 .7
2 4 .0
2 4 .4
2 4 .8
2 5 .2
2 5 .4
2 5 .6
2 6 .Q
2 6 .1
2 6 .1
2 6 .0
2 5 .8
2 6 .6
(
)
!
f
!
!
!
!
!
!
|
!
1
1
!
1
|
!
!
!
1
2 7 .7
2 8 .4
!
!
!
!
!
l
\
!
1
1
3 79.
346.
3 83 .
4 36 .
4 31.
368.
407.
398.
4 43.
424 .
394.
349 .
3 17.
3 02 .
332.
332.
394.
367 .
405.
485 .
480 .
5 35 .
545 .
583.
633.
664.
6 70 .
!
!
I
!
!
1
!
!
!
!
I
1
ii
1
1
!
!
!
!
!
!
1
!
!
1
i
!
!
!
3 .0
3 .0
3 .2
3 .1
3 .3
3 .5
3 .5
3 .5
3 .4
3 .1
2 .8
2 .5
1 .8
1 .4
1 .8
2 .4
!
|
!
!
!
!
!
»
|
|
I
!
il
1
!
!
!
»
!
1
1
1
(
(
|
iI
!
I
!
3 .0
3 .0
3 .3
3 .1
3 .3
3 .4
3 .4
3 .3
3 .3
3 .1
2 .8
2 .5
1 .8
1 .4
1 .7
2 .4
PERCENTAGE CHANGE FROM
P R E V IO U S YEAR
LARGE
BANKS
!
|
!
!
|
!
!
(
1
1
|
(
l1
!
!
!
!
!
!
1
!
!
(
!
|1
1
!
!
1 2 .1
1 1 .1
1 2 .0
1 3 .5
1 2 .8
1 0 .3
1 1 .4
1 1 .2
1 2 .5
1 1 .9
1 1 .2
9 .8
9 .0
8 .7
9 .3
9 .0
1 0 .4
9 .3
1 0 .2
1 2 .3
1 2 .0
1 3 .5
1 3 .9
1 4 .8
1 6 .5
1 7 .6
1 7.1
» ALL COMMERCIAL BAN KSI
1
ACTUAL
I
! SE A SO N A LLY !
I
1 A D JU ST ED
I
1
1
I
!
1
!
!
(
!
!
!
ii
!
!
(
!
1
1
!
1
!
(
!
1
li
!
I
(
1 4 .9
1 4 .8
1 5.8
1 4 .6
1 5 .3
1 5 .6
1 5 .6
1 5 .5
1 4 .8
1 3 .5
12.1
1 0 .8
7 .5
5 .4
6 .9
9 .2
!
1
!
!
!
!
!
1
(
1
!
!
ii
!
!
!
1
I
1
!
1
!
1
!
1
i*
1
1 4 .6
1 4 ,5
1 5 .8
1 4 .6
1 5 .3
1 5 .6
1 5 .5
1 4 .8
1 4 .6
1 3 .5
1 2 .0
1 0 .8
7 .5
5 .4
6 .6
9 .3
\
1
I ARGF-BANK DAI A ART FOR APPROX I MAT FLY 170 COMMFRCIAL BANKS THAT SUBM IT THF F . R . 2416 W EEKLY REPORT OF A S S E T S AND
I lA R H IT T S .
IH f S F ARF BANKS THAT HAD DOMESTIC A SSET S OF 3750 M IL L IO N OR MORE AS OF DECEMBER 31, 1977.
DATA SHOWN I O R A IL COMMERCIAL BANKS ARE FROM CALL REPO RTS A V A IL A B LE FOR MARCH, JU N E t
S I P I r MR FR
DA 1A ART ESTIM ATED FOR UNIN SURED B A N K S ).
FOR OTHFR MONTHS, DATA SHOWN ARF
n rC IM B E R 1978 ART P R E L IM IN A R Y E ST IM A T E S MADF BY THF AUTHORS.
S E P T E M B E R , AND DECFMBER ( MARCH AND
IN TFR POL ATFD F S T IM A T F S . DATA FOR
TABLE 302.1
MEMBER BANK BORROWING UNDER SEASONAL B O R R OW IN G PRIVILEGE
WEEK ENDING ON LAST WEDNESDAY OF mqn TH
i
1
1
1
i
1
1
1
!
1
1977—J A N .• • j
- F E B .. . |
- M A R ...!
- A P R ... |
- M A Y . .. I
-JUN...I
-JUL...I
-AUG...|
-SEP...!
- O C T ...I
- N O V ... !
- D E C ...!
i
1
ID E P O S IT S I Z E OF BANK
ii
!
OVER
1 UP TO
!
$100
!
$100
I M IL L IO N
! M IL L IO N
I
8.
10.
IT .
21.
45.
59.
63.
|
|
!
1
!
|
!
0.
o.
0.
o.
l.
j
1
1
!
!
4.
4.
99.
|
92.
81.
53.
34.
J
I
j
!
|
|
!
TOTAL
!
|
!
i
!
!
- S E P ...!
- O C T ...!
- N O V ... !
- D E C ...!
- F E B ...!
- M A R ... !
62. \
82. |
lo o . !
- M A R . . .1
- A P R . . .1
- M A Y . . .!
- J U N . . .!
- JU L .. . !
- A U G . ..!
I
l
1979—J A N . ••!
D E P O S IT
S IZ E
I
|
!
!
J
1
!
!
J
!
I
1
C L A S S IF IC A T IO N
borrowing!
(THOUSANDS OF D O LLARS)
23.
31.
51.
43.
93.
109 .
128 .
161 .
160.
159.
117.
76.
1978—J A N . ••!
- F E B .. . 1
AVERAGE DAILY SEASONAL
NUMBER OF BANKS
8.
io .
17.
21.
44.
55.
59.
89.
8 3.
7 4.
45.
31.
23.
31.
49.
42.
85.
100.
1 22 .
150.
147 .
144 .
102.
69.
5 6.
74.
92.
IS
!
!
|
1
!
|
!
|
1
I
!
1
|
J
!
!
!
!
!
!
1
j
f
!
[
1
1
!
!
!
io .
9.
7.
8.
3.
o.
0.
2.
1.
8.
9.
6.
11.
13.
15.
15.
7.
6.
8.
8.
1
!
|
I
!
!
1
1
!
I
|
1
j
I
!
!
!
|
!
D E P O SIT S I 2!E OF BANK
TOTAL
8113.
11353.
14161.
15030.
34503.
70158.
687 01 .
130235.
115456.
116094.
74288.
52761,
3 55 88 .
52858.
51892.
4 94 00 .
114954.
133794.
150938.
206810.
204226.
235448.
180107.
131159.
112467.
123199.
134302.
BASED ON AVERAGE D E P O S I T S
!
UP TO
$100
M IL L IO N
8113.
11353.
14161.
15030.
32503.
45658.
4 8 5 08 .
8 0 9 36 .
7 34 56 .
74794.
4 14 88 .
344 61 .
{
!
|
!
I
!
!
|
!
f
|
!
!
!
!
|
35588.
52858.
5 05 35 .
4 46 86 .
88968.
101623.
119581.
158153.
156046.
158958.
105834.
87763.
J
!
!
|
!
|
!
f
!
7 85 97 .
959 49 .
100166.
!
j
IN
1972.
|
OVER
1
$100
! M IL LIO N
S
I
|
!
!
1
j
!
!
!
|
!
I
1
j
|
1
!
!
!
!
1
!
!
!
|
i
l
|
f
|
0.
0.
0.
0.
2000.
24500.
20193.
49299.
42000.
41300.
32800.
18300.
0.
0.
1357.
4714.
25986.
32171.
31357.
48657.
48180.
76490.
74273.
43396.
33870.
27250.
34136.
25
TABLE 311.3
26
D E P O S IT S AND LOANS AT AGRICULTURAL BANKS
SEVENTH AND NINTH FED ERA L R ES E R V E D IS T R IC T S
I '
1
J
SEVENTH FED ERAL
R E S E R V E D IS T R IC T
(CH ICA G O )
PiR C E N T A G E ” C H A N G F FROM PR EV IO U $ YEAR
.
|
____
1
I _ _ IQ I A L .
D E P O S IT S
____
1 DEMAND
1976—J A N . • . | * * * * * * * * *
- F E B ,. . J * * * * * * * * *
- M A R .. . j * * * * * * * * *
- A P R .. . j * * * * * * * * *
- M A Y .. . | * * * * * * * * *
- JU N .. . | * * * * * * * * *
- JU L .. . | ** ** ** ** *
- A U G .. . j * * * * * * * * *
-SEP. . . |* * * * * * * * *
- O C T .. . | * * * * * * * * *
-NOV.. #i * * * * * * * * *
- D EC . . . j * * * * * * * * *
■
!
1977—J A N .. .1
1 1 .1
- F E B . . .1
10.8
- M A R .. .1
1 1 .5
- A P R .. . }
1 2 .1
- M A Y . . .1
1 1 .9
1 0 .9
- J U N . . •f
1 0 .3
—J U L . • • |
10.1
- A U G . . .1
-SEP .. . |
9 .2
j*********
j *********
J*********
|*********
j *********
i*********
j*********
j *********
i* * * * * * * * *
j*********
j*********
j*********
- O C T . . .1
-NO V.. . I
-D EC .. . !
i
197 8 - J AN. • . |
-FEB. . . !
-M AR..
-APR..
-M AY..
-JU N ..
-JU L..
-AU G ..
-SEP ..
-O CT..
-NO V..
.
.
.
.
.
.
.
•
\
3.2
8.6
i
!
l
1
I
1
1
I
]
!
1
3 .0
1.8
4 .3
5 .7
5 .0
3 .3
1 .2
0 .8
- 1 .4
-2.6
1
*********
\
*********
*********
*********
j
j
j
j
1 4 .8
1 4 .7
1 4 .6
1 4 .8
1 4 .8
1 4 .3
1 4 .2
1 3 .9
1 3 .7
1 2 .7
1 2 .0
1 1 .9
1 8 .7
1 8 .5
1 9 .3
1 8 .7
1 4 .6
1 9 .4
2 0 .7
2 1 .2
2 1 .7
2 1 .3
1 9 .8
19.1
|
|
|
1 1 .7
11.1
1 0 .7
1 0 .6
9 .8
9. 7
9 .3
9 .2
9 .2
9 .5
9 .6
17.1
1 6 .5
1 5.1
1 4 .3
1 3 .5
13.0
1
1
!
1
I
1
1
!
I
1
!
I
1
0 .5
2.2
9.5
8.7
8.7
j
!
4 .1 I
2 .6 1
3 .7 1
8 .6
8.2
8.8
8.7
8.6
!
I
3.5
1
1
9 .2
I
1
10.1
. I
- D E C .. . \
9 .8
I
1
4 .0
6 .5
7 .1
7 .0
9 .2
1 1 .7
1 0.1
8 .A
1
5.6
j
1
1
|
j
j
j
j
j
j
j
j*********
I
|
I
|
*********
*********
*********
*********
*********
*********
*********
*********
|*********
j*********
i*********
■
!
i
I
T IM E
|* * * * * * * * *
|*********
|*********
j *********
j*********
j*********
J*********
j *********
9 .0
1
LOANS
____
1
1
1
|
1
LOAN1 _
i
1 D E PO SIT 1
RATIO
*
|
1 ...... ......... 1 ^
!
i
f
|
!
1
|
1
1
I
|
|
9 .5
12.9
1 2 .9
1 2 .3
12.6
l
1 3 .6
1 3 ,7
\
|
f
|
|
!
i
|
1
t
1
I
I
|
1
(
1
1
1
\
0 .5 3 7
0 .5 3 7
0 .5 4 3
0 .5 4 5
0 .5 7 2
0 .5 5 1
0 .5 6 0
0.56 1
0 .5 5 8
0 .5 5 5
0 .56 1
0 .5 6 8
0 .5 7 4
0 .5 7 4
0 .58 1
0 .5 7 8
0 .5 8 6
0. 593
0 .6 1 2
0 .6 1 7
0 .62 1
0 .6 2 3
0 .6 1 9
0 .6 2 1
0 .6 1 4
0 .6 1 6
0 .6 1 7
0 .6 0 8
0 .61 5
0 .6 1 6
0 .63 1
0 .64 2
0 .6 3 9
0 .6 3 7
0 .64 1
0.651
I
|
f
|
1
\
|
|
{
|
j
1
i
1
|
|
1
1
|
!
|
|
|
I
|
|
NINTH 1
FED ERAL R E S E R V E D IS T R IC T (M IN N E A P O L IS )
SECOND WEDNESDAY O f MONTH
PERCENTAGE CHANGE FROM P R E V IO U S YEAR
dI p o s i t s
iq t a l
__ ... 1
9 .6
10.1
8 .2
9 .6
9 .0
8 .6
8 .3
8 .9
7 .9
9 .3
8 .3
8 .0
1
I
I
1
\
I
1
!
!
I
1
1
i
7 .4 1
7 .2 1
8 .8 1
8 .7 1
9 .1 I
8 .6 !
8 .0 1
7 .8 \
8 .5 1
7 .7 4
7 .6 1
7 .4 !
DEMAND _ 1
- 0 .6
3 .0
1 .2
5 .4
4 .3
3 .6
2 .9
4 .3
0 .4
1 .8
0. 5
- 0 .0
- 0 .8
- 1 .1
0 .8
0 .2
1 .2
1 .0
0 .8
- 0 .1
3 .3
1
1
1
1
1
1
1
1
I
1
!
I
i1
1
1
1
\
I
1
1
1
1
2.1
I
3 .0
3 .2
1
1
ii
7 .7
5 .6
1
6 .1
|
1
7 .5
|
1
8.8 1
8 .0
\
1 0 .6
9 .6 1
|
9 .7 1
1 0 .8
I
9 .1
8 .6 1
1
9 .3
8 .8 1
|
1 0 .7
9. 1 I
I
1 0 .9
9 .5 1
|
f * * * * * * * * * 1* * * * * * * * *
1
I
j
|
i
8 .5
7 .9
9 .2
8 .6
t
I
T IM E
1 4 .9
1 3 .3
1 1 .3
1 1 .4
1 1.0
1 0 .8
1 0 .6
1 0 .9
11.1
1 2.6
1 1 .8
11.6
11.1
1 0 .6
12.1
1 2.2
1 2.2
1 1 .7
1 0 .8
1 1 .0
1 0.6
1 0 .0
9 .4
9 .1
8 .9
8.8
9 .0
9 .0
I
9 .1
!
9 .3
I
9 .4
I
I
8 .5
8 .6
1
1
8 .5
8 .9
1
I*********
1
i
1
1
1
1
1
!
1
1
!
1
1
1
1
I
1
1
1
1
1
!
1
1
!
\
1
1
i
I
!
1
!
I
LOANS
9 .1
1 2 .8
1 1 .3
1 0 .5
1 0 .9
1 3 .0
1 1 .3
1 2 .4
1 3 .4
1 4 .0
1 4 .4
1 2 .6
1 2 .4
1 2 .9
1 4 .7
1 4 .3
1 4 .3
1 3 .4
1 4 .9
1 4 .4
1 3 .4
1 4 .0
1 4 .7
1 3 .7
1 3 .9
1 3 .2
1 3 .4
1 2 .5
1
1 3 .2
1
1 3 .2
1 3 .0
I
I
1 3 .4
1
1 3 .2
1 2 .9
I
1
1 4 .3
1* * * * * * * * *
f
|
t
!
LOAND E PO SIT
RATIO
1
1
!
1
1
1
I
1
1
I
1
1
i
1
1
I
1
\
1
I
1
1
I
!
1
1
i
i
I
0 .6 3 5
0 .6 5 1
0 .6 5 0
0 .6 5 4
0 .6 6 5
0 .6 6 9
0 .6 8 6
0 .6 8 9
0 .6 8 4
0 .6 8 8
0 .6 8 7
0 .6 8 0
0 .6 6 6
0 .6 8 3
0 .6 8 1
!
0 .6 7 7
1
0 .6 9 2
I
0 .6 9 0
I
0 .7 0 7
I
0 .7 1 9
1
0 .7 1 1
1
0 .7 1 1
1
0 .7 1 7
1
j *********
1
DATA FOR THE SEVENTH D IS T R IC T COVER MEMBER BANKS HAVING A R E L A T IV E L Y LARGE PROPORTION OF AGRICU LTU RA L LOANS AND
LOCATED IN TOWNS WITH PO PULATION UNDER 1 5 ,0 0 0 *
DATA fQ R THE NINTH D IS T R IC T COVER MEMBER BANKS. AT WHICH AGRICULTURAL
LOANS EXCEEDED 20 PERCENT OF TOTAL LOANS AS OF JU N E 1 96 9.
FOR BOTH D IS T R IC T S , LOANS ARE GROSS LOANS L E S S FED ERA L
FUNDS SOLD AND S E C U R IT IE S PURCHASED UNDER AGREEMENTS TO R E S E L L »
0 .6 0 7
0 .6 1 9
0 .6 1 6
0 .6 2 2
0 .6 3 5
0 .6 4 0
0 .6 4 5
0 .6 4 9
0 .6 5 4
0 .6 5 0
0 .6 4 4
0 .6 4 2
1
1
.1
!
\
1
1
.1
1
I
1
1
1
1
1
\
I
I
1
!
i
1
1
1
\
1
I
1
I
1
I
I
1
I
i
1
I
\
\
1
I
!
\
I
I
I
!
\
TABLE 312.3
27
D E PO SIT S AND LOANS AT AGRICULTURAL BANKS
S IX T H FED ERAL R ES E R V E D IS T R IC T AND TEXAS
S IX T H FED ERA L R E SER V E~ o 7 $ T R IC T fATLANTA I~ ~
MONTHLY AVERAGE ENDING SECOND WEDNESDAY OF MONTH
7
~
~ ~
TEXAS
~~
7
|
f
------------------------------------------------------------------------------ --------------- -1— ______________ - ___________________ _________ I
PERCENTAGE CHANGE FROM PR EV IO U S YEAR
________
I.
1
I
1
I
J
D E PO SIT S
TOTAL
1 9 7 7 - JA N ...I
- F E B ...|
—M A R .•#|
- A P R .. . f
- M A Y ...|
- JU N .••|
- JU L ...!
- A U G ...)
’■
‘S E P . • • |
-OCT. . . |
- N O V ...!
- D E C . . •|
j
1 0 .*
1 0 .3
1 0 .3
1 0.3
1 0 .0
10.1
1 0 .9
1 0 .8
1 0 .8
9 .3
9 .7
1 0 .7
1978-J A N . • • I
- F E B ...I
- M A R ...!
- a F r . ••!
- M A Y ...J
- JU N .. . !
- JU L ...!
- A U G .. . !
-SEP<* • • 1
—OCT. . . |
- N O V ...!
- D E C . . .1
j
11.1
1 0 .8
1 1 .9
1 2 .9
1 3 .7
1 3 .*
1 2 .8
1 2 .2
1 2 .7
1 3 .0
1 2 .2
1 0 .9
1979—JA N * . • f
- F E B ...!
- M A R .• . j
9 .2
7 .7
6 .6
1
1
1
!
!
!
1
J
!
1
!
!
!
i
T
!
I
i
!
J
!
1
!
1
!
!
!
ii
!
!
!
DEMAND
.
6 .2
5 .2
5 .5
5 .6
*• 6
* .0
5 .3
*• 6
* .*
3 .*
* .5
5 .9
1
f
!
l
!
!
I*
I
!
!
!
!
[
j
8 .5 !
7 .9 |
8 .9 |
1 1 .* !
1 3 .5 1
1 3 .2 !
1 3 .0 I
1 2 .3 |
1 3 .9 !
l* .l |
1 1 .8 !
9 .8 f
j
* .9
2 .3
0 .2
I
!
!
_i i m
e
I
!
__ 1
1 2 .9
1 3 .2
1 3 .0
1 3 .0
1 3 .0
1 3 .*
1 3 .9
l* .0
i* .2
1 2 .*
1 2 .5
1 3 .*
1 2 .5
1 2.3
1 3 .6
1 3 .7
1 3 .8
1 3 .6
1 2 .7
1 2.1
12.1
1 2 .*
1 2 .*
1 1 .5
1 1 .5
1 0 .*
1 0 .0
I
I
!
!
1
!
!
1
1
!
!
1
ii
!
1
!
!
1
!
!
1
1
!
1
1
i
1
!
1
LOANS
!
I
1
15.1 I
1 5 .0 1
1 5 .9 !
1 5 .7 1
15.0 S
1 7 .0 f
1 7 .2 !
17.7 1
1 7.7 1
1 8 .0 !
1 8 .5 !
1 8 .5 1
ii
1 6 .9 !
1 6 .7 !
1 7 .3 !
1 * .* !
1 2 .8 1
1 2.8 «
12.7 !
1 3 ,5 !
1 * .3 !
13.8 !
1 3 .3 !
1 2 .* !
ii
1 2 .6 1
1 1 .9 !
1 2 .5 !
LOAND EPO SIT
RATIO
0 .5 9 *
0 .5 9 8
0 .59 8
0 .5 9 9
0.61 6
0 .62 8
0 .63 2
0 .6 * 3
0 .6 * *
0 .6 * 6
0 .6 * 2
0 .6 3 6
0 .6 2 3
0 .6 2 8
0 .6 2 2
0 .6 0 *
0 .6 0 8
0 .6 2 0
0 .6 2 9
0 .6 * *
0 .6 * 7
0 .6 * 6
0 .6 * *
0 .6 3 8
0 .6 * 0
0 .6 5 1
0 .6 * 6
I
PERCENTAGE CHANGE
f FROM PREV I OUS YEAR
1.
____________ 1
1 D EPO SIT S 1
LOANS
I
I
1 7 .*
1
1 8.2
!
1 8 .9
4
1 9 .9
1
1 9 .5
!
1 9 .0
1
1 8 .9
!
1 8 .6
i
1 8 .9
1
1 7 .8
i
1 6.8
1
1 7 .6
1
i
1
1 0.5 »
1 7 .3
1 0 .9 1
1 6 .7
1 1 .3 1
1 6 .9
1 1 .8 1
1 5.1
1 3 .0 1
1 5 .1
1 3 .3 1
1 5.1
1 2 .6 1
1 5 .6
1 2 .6 1
1 5 .7
1 2.2 1
1 5 .8
1 1 .8 1
1 6 .7
11.1 !
1 7 .8
1 0 .0 1
1 7 .9
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I
8 .6 »
18. 6
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8 .8 1
1 8 .2
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1 1 .9
1 1 .7
1 1 .0
11.1
1 0.8
1 0 .7
1 0 .9
1 1.2
1 1 .5
1 1 .*
1 1 .3
1 1.0
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LOAND E PO SIT
RATIO
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0 .5 0 2
0 .5 0 5
0 .5 1 6
0 .5 2 6
0 .5 * 7
0 .5 5 5
0 .5 6 0
0 .5 6 8
0 .5 7 2
0 .5 6 7
0 .5 5 7
0.55 2
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0 .53 3
0.531
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0 .5 * 1
0 .5 5 7
0 .5 6 *
0 .5 7 5
0 .5 8 *
0 .59 0
0 .592
0.591
0 .59 2
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0 .5 8 2
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0 .5 7 7
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1
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1
OATA FOR THE SIXTH DISTRICT ARE FOR MEMBER BANKS AT WHICH AGRICULTURAL LOANS COMPRISE 15 PER CENT OR MORE OF TOTAL LOANS.
OATA FOR TEXAS ARE FOR A SAMPLE OF MEMBER BANKS AT WHICH AGRICULTURAL LOANS COMPRISE 25 PER CENT OR MORE OF TOTAL LOANS.
FOR BOTH DISTRICTS* LOANS ARE GROSS LOANS LESS FEOERAL FUNOS SOLO ANO SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL.
28
In terest Rates
(per cent)
Federal
Land
Banks*
Production
Credit
Associations1
Large
Banks2
Other
Banks2
All
Banks'^
Prime
Rate3
1977 - Q1
8.5
8.2
8.3
8.9
8.8
6.25
Q2
8.4
8.1
8.1
8.9
8.7
6.25
Q3
8.3
7.9
8.4
8.9
8.7
6.75
Q4
8.3
8.0
9.4
9.0
9.1
7.75
1978 - Q1
8.2
8.4
9.3
9.1
9.2
8.00
Q2
8.2
8.7
9.6
9.2
9.3
8.00
Q3
8.3
9.0
10.4
9.3
9.6
9.00
Q4
8.4
9.2
11.7
10.0
10.4
10.50
1979 - Ql
8.7
10.0
12.5
10.4
11.0
11.75
Q2
9.0
\J
Unweighted average of rates quoted fo r Federal Land Banks and Production Credit
Associations, f i r s t day of quarter (calculated by the authors).
2/
Dollar-weighted average of e ffe c tiv e rates on nonreal-estate farm loans made by
insured commercial banks during the f i r s t fu ll business week of February, May, August,
and November. Large banks are banks at which to ta l assets exceeded approximately $400
m illio n in 1978. These banks hold 19 per cent of to ta l nonreal-estate farm loans
outstanding at a ll commercial banks.
3/
Prime rate on short-term business loans during the f i r s t f u ll business week of February,
May, August, and November.
D istrib u tio n of farm nonreal-estate loans made by insured commercial banks
E ffe c tiv e
i nterest
rate
(per cent)
Feb.
1977
A ll banks
Feb.
1978
Feb.
1979
Feb.
1977
Large banks
Feb.
Feb.
1978
1979
FebTZ
1977
Other banks
Feb.
Feb.
1978
1979
Percentage of to ta l amount of loans
A ll loans
Under 7.0
7.0 to 7.9
8.0 to 8.9
9.0 to 9.9
10.0 to 10.9
11.0 to 11.9
12.0 to 12.9
13.0 to 13.9
14.0 to 14.9
15.0 and over
100
1
8
46
41
3
100
100
« ...
- -
1
38
50
9
1
—
—
—
—
- -
—
- -
—
—
4
17
35
19
12
6
6
1
100
7
24
55
11
100
100
....
«.«.
1
34
- -
—
41
20
4
—
—
2
—
- -
—
—
—
—
- -
2
19
12
28
17
20
2
100
100
« ...
« «.
3
43
49
4
100
—
- -
38
56
5
- -
—
- -
—
5
23
41
22
6
2
1
—
—
—
100
100
100
- -
- -
- -
- -
Percentage of to ta l number of loans
A ll loans
Under 7.0
7.0 to 7.9
8.0 to 8.9
9.0 to 9.9
10.0 to 10.9
11.0 to 11.9
12.0 to 12.9
13.0 to 13.9
14.0 to 14.9
15.0 and over
100
100
100
....
2
48
42
6
1
—
—
—
42
47
8
1
1
- -
—
—
—
- -
—
8
30
37
15
6
2
1
1
100
5
12
38
35
9
1
—
100
- -
1
21
45
26
6
1
—
_ _
—
—
—
—
100
« ...
....
—
1
49
42
6
1
1
2
17
14
31
18
14
4
«. —
_ —
—
—
43
47
7
—
—
—
—
8
31
38
15
5
1
1
—
—
—
—
1
—
30
Overview (continued from page 2)
The revisions in bank reports also have disrupted the Reserve Bank series on deposits and loans at
ag ricu ltu ral banks (Tables 311 and 312). Chicago is s t i l l working on the changes, while Minneapolis decided
to discontinue the series rather than update it s program. Thus recent data are a v a ila b le only fo r southern
States (Table 312.3). They show that loan growth has outpaced that of deposits, and that consequently,
average loan/deposit ra tio s are s ig n ific a n tly higher than in the same months a year e a r lie r . The year-ago
ratio s were already fa r above th e ir pre-1976 range. Another ind ication of the reduced liq u id it y of rural
banks is the increase in member-bank seasonal borrowing from the Federal Reserve Banks, as compared with past
years (Table 302.1). The impact on recent farm c re d it a v a ila b ilit y w ill be shown by the regular surveys
conducted as of A pril 1 by fiv e Reserve Banks, the results of which appear in our Quarterly Series Databook,
coming out in May.
The s trik in g dichotomy between large and small (r u ra l) banks in the c y c lic a l behavior of th e ir farm
loan in terest rates therefore p e rsists. We have found that the d ifferen ce in behavior is most evident at the
survey strata boundary corresponding to bank asset size of about $400 m illio n . Average in te rest rates fo r
these new "la rg e " and "other" bank categories are tabled on page 28, an improvement over those presented in the
February issue.
The average in te rest rate on nonreal-estate farm loans made by banks rose to 11.0 per cent as of the
f i r s t week of February according to the Federal Reserve System's q u arterly survey of terms of bank lending. At
smaller banks, which do most of the farm lending, the average rate increased by 40 basis points on top of an
unusually sharp increase la s t f a l l , fo r a to ta l ris e of over 100 basis points since the August 1978 survey.
In
no way, however, can i t be said that "in the past year, rates at rural banks have p aralleled rates at larg er
banks f a i r l y c lo s e ly ," as the USDA stated in the April 1979 issue of A g ricu ltu ral Outlook. As shown in the table
on page 28, since February 1978 the average rate at large banks increased twice as rap id ly as at smaller banks.
Moreover, since the c y c lic a l low in rates in the spring of 1977, the average large-bank rate rose from 8.1 per
cent to 12.5 per cent, while at smaller banks the average rose only from 8.9 per cent to 10.4 per cent.
The r is e in average in te res t rates t e l l s only part of the c y c lic a l rate sto ry, however. Another
element has been a marked widening in the range of rates fo r individual loans. In February 1977, a spread of
three percentage points— 7.0 to 9.9 per cent— encompassed 95 per cent of the d o lla r amount of a ll loans made
(see ta b le , page 29). In February 1978, a spread of the same size— from 8.0 to 10.9 per cent— again covered
over 95 per cent of the loans. But by February 1979 the spread had doubled, with s ig n ific a n t volumes of farm
lending found at rates ranging from 8 to 15 per cent. The increase in v a r ia b ilit y is most evident at large
banks, but has occurred in lesser degree at smaller banks as w e ll. These data indicate that the in te rest
rate experience of individual farm borrowers from banks has varied g re a tly since the c y c lic a l low in rates.
Some have apparently seen increases of less than 100 basis points, while others may have encountered increases
as great as 600 basis points. C le a rly , average in te rest rates are fa r less in d ic a tiv e of individual c re d it
now than they were
year or two ago.
Digitized forsituations
FRASER
a
@FedFRASER