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AGRICULTURAL FINANCE DATABOOK November 1978 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 NOVEMBER 1978 SECTION 200 PAGE FARM LENDING OPERATIONS AND EXPERIENCE OF NONBANK INSTITUTIONS 210 PRODUCTION CREDIT ASSOCIATIONS ....3 220 FEDERAL LAND BANKS ...10 230 LIFE INSURANCE COMPANIES ...18 300 AGRICULTURAL BANKING DATA RECENT FEDERAL RESERVE PUBLICATIONS IN AGRICULTURAL FINANCE... 28 OVERVIEW In October, new loans outstanding at PCA's began their seasonal decline. Collections rose again, maintaining a strong showing of over a year, and offsetting the increases in new loan volume. The recent level of new loans is unusual, exceeding very high summer levels. New lending at FLB's has also picked up in recent months, as compared with last year. twelve-month moving total of loans closed has entered a new high range of values. The Repayments as a percentage of loans outstanding remained at a fairly low level, in contrast to higher proportions in 1977. Farm mortgage loans outstanding at life insurance companies surpassed $10 billion in September, up 19 per cent from a year earlier and up by over 80 per cent since the turnaround in early 1972. Final call report data for June 1978 show that farm non-real-estate loans at commercial banks totaled $27.0 billion, up 5.4 per cent from a year earlier (Table 301.1). loans outstanding at PCA's rose by 4.1 per cent. During the same period, Rural bank liquidity in the four areas where monthly figures are provided remained low, with average loan/deposit ratios remaining high for November (Tables 311 and 312). # # Seasonal borrowing at the Federal Reserve discount window began to decline in November. « # # # * # # * # 4 AGRICULTURAL FINANCE DATABOOK—MONTHLY SERIES 21C NOVEMBER 1978 PRODUCTION CREDIT ASSOCIATIONS (AGRICULTURAL LOANS, EXCEPT AS NOTED) 211 LOANS OUTSTANDING 211.1 211.2 212 ACTUAL 12-MONTH MOVING TOTAL RENEWALS AND COLLECTIONS 213.1 213.3 SOURCE: ! LOANS MADE AND NEW LOANS 212.1 212.3 213 ACTUAL SEASONALLY ADJUSTED ACTUAL 12—MONTH MOVING TOTAL "PRODUCTION CREDIT ASSOCIATIONS—SELECTED MONTHLY LOAN DATA," TECHNICAL SERVICES DIVISION, FARM CREDIT ADMINISTRATION. DATA IN THIS SECTION ARE OBTAINED FROM TIMELY MONTHLY REPORTS WHICH ARE NOT REVISED TO REFLECT ANY SUBSEQUENT CHANGES OR CORRECTIONS. IF ONLY YEAR-END DATA ON OUTSTANDING LOAN VOLUME ARE REQUIRED, USE THE SERIES IN SECTION 100 OF THE A G R I C U L T U R A L FIMAMLE_DATAM3jQjlzzA^Ml!Al_^fRll^, NOVEMBER 197 7. DATA ON LOANS OUTSTANDING AND LOANS MADE DO NOT FARM-RELATED BUSINESS LOANS, OR AQUATIC LOANS. RENEWALS DO INCLUDE THESE LOANS; HOWEVER, THESE ONLY 1.0 PER CENT OF TOTAL OUTSTANDING LOANS AT INCLUDE RURAL HOME LOANS, DATA ON COLLECTIONS AND TYPES OF LOANS REPRESENTED PC A 1 S AS OF DECEMBER 197 7. FOR A BRIEF DISCUSSION OF THE ANALYTICAL VALUE OF THESE DATA, SEE THE SECTION ENTITLED "LENDING EXPERIENCE OF NONBANK INSTITUTIONS" IN "OVERALL MEASURES OF FINANCIAL PERFORMANCE," 3Y EMANUEL MEL ICHAR, AGRICU1 TURAj FI NANCE REVIEW. FEBRUARY 1977, PP. 92-95. TABLE 211.1 PRODUCTION CREDIT ASSOCIATIONS LOANS OUTSTANDING (END OF MONTH) AMOUNT MILLIONS OF DOLLARS END OF MONTH CHANGE FROM PREVIOUS MONTH | YEAR BORROWERS PERCENTAGE CHANGE FROM PREVIOUS 10711.1 10823.2 11117.2 11420.9 11706.7 12005.6 12190.8 12319.4 12321.4 12170.4 11980.8 12196.4 -30.4 112.0 294.0 303.7 285.8 298.9 185.1 128.6 2.0 -151.0 -189.6 215.6 | | I | | | | | 1 | | | 1164.5 1079.6 1106.2 1190.9 1235.2 1302.8 1378.1 1510.7 1584.2 1599.8 1528.7 1454.8 -0.3 1.0 2.7 2.7 2.5 2.6 1.5 1.1 0.0 -1.2 — 1.6 1.8 1977—J AIM. . . —FEB.•. —MAR... -APR... —MAY... -JUN... —JUL.. • —AUG.. . —SEP.. . -OCT... -NOV... —DEC... 12140.2 12272.9 12583.0 12929.3 13332.9 13748.9 14038.0 14132.5 14069.3 13788.7 13471.3 13454.3 -56.1 132.7 310.1 346.3 403.6 416.0 289.1 94.5 -63.2 -280.5 -317.4 -17.0 1429.1 1449.7 1465.8 1508.5 1626.2 1743.3 1847.2 1813.1 1747.9 1618.4 1490.5 1257.9 -0.5 1.1 2.5 2.8 3.1 3.1 2.1 0.7 -0.4 -2.0 -2.3 -0.1 1978—JAN... —FEB.•. —MAR... -APR... -MAY... —JUN... —JUL... —AUG... -SEP... -OCT... 13233.3 13273.6 13426.8 13629.8 13909.1 14312.1 14651.5 14846.1 14954.7 14743.5 -220.9 40.3 153.2 203.0 279.3 403.0 339.4 194.5 108.6 -211.2 | 1 | | | | | I | | | I 1 | | | | | | | | | | 1093.1 1000.7 843.8 700.5 576.2 563.2 613.5 713.6 885.4 954.8 -1.6 0.3 1.2 1.5 2.0 2.9 2.4 1.3 0.7 -1.4 PERCENTAGE CHANGE FROM PREVIOUS YEAR THOUSANDS YEAR 1976-JAN... -FEB..• —M AR... —APR..e — MAY ... — J UN... -JUL... -AUG.. . -SEP.. . -OCT... -NOV... -DEC... | | | | | | I 1 | I | | | | | | | 1 | I | | | | | | | | | | | | | | | | 12.2 11.1 11.0 11.6 11.8 12.2 12.7 14.0 14.8 15.1 14.6 13.5 13.3 13.4 13.2 13.2 13.9 14.5 15.2 14.7 14.2 13.3 12.4 10.3 9.0 8.2 6.7 5.4 4.3 4.1 4.4 5.0 6.3 6.9 | | | | | | | | | | | | j | | | | | | | | | | | | j | | | | | | | | | | 328.1 330.4 334.3 337.7 340.2 342.0 342.9 342.9 341.9 339.6 336.6 335.6 AVERAGE SIZE DOLLARS -0.7 -0.2 0.2 0.9 0.9 1.0 1.2 1.4 1.6 1.9 2.1 2.1 | | | | | | | | | | | I 32646. 32761. 33250. 33815. 34415. 35106. 35552. 35926. 36036. 35837. 35591. 36338. 335.3 337.4 341.7 345.5 348.4 350.4 351.3 351.2 350.6 347.9 344.9 342.8 | | I | I | | | | | | | | | | | | | | 1 | | | | | 2.2 2.1 2.2 2.3 2.4 2.5 2.4 2.4 2.5 2.4 2.4 2.1 I I 1 | | | | | | | | | 36207. 36373. 36828. 37424. 38266. 39233. 39961. 40237. 40130. 39637. 39064. 39253. 341.2 341.7 343.7 346.2 348.0 349.3 350.5 351.3 350.8 348.8 | | | | 1 | | | | | 1.8 1.3 0.6 0.2 -0.1 -0.3 -0.2 0.0 0.1 0.3 | | | I | | | | | | 38788. 38850. 39067. 39366. 39971. 40971. 41806. 42261. 42625. 42274. PERCENTAGE CHANGE FROM PREVIOUS YEAR | | | | | | | | | | 1 | 1 | | | | | | | | | | | | 1 | | | | | | | | | | 13.0 11.3 10.8 10.6 10.8 11.0 11.4 12.4 13.0 12.9 12.3 11.2 10.9 11.0 10.8 10.7 11.2 11.8 12.4 12.0 11.4 10.6 9.8 8.0 7.1 6.8 6.1 5.2 4.5 4.4 4.6 5.0 6.2 6.7 TABLE 211.2 PRODUCTION CREDIT ASSOCIATIONS LOANS OUTSTANDING SEASONALLY ADJUSTED DATA (END OF MONTH) AMOUNT MILLIONS OF DOLLARS 1 1 1 END OF MONTH CHANGE FROM PREVIOUS MONTH | YEAR 1976—J AN.. . | -FEB...j -MAR...| —APR...| — MAY... I —JUN...I —JUL...| —AUG*..| -SEP...I —OCT... I -NOV...I -DEC...I 11056.6 11134.6 11262.6 11399.1 11508.0 11635.6 11789.1 11984.9 12118.4 12259.0 12351.4 12428.6 111.1 78.0 128.0 136.4 108.9 127.7 153.5 195.8 133.5 140.7 92.4 77.1 | | 1 | | | 1 I J | | | 1209.0 1129.4 1145.7 1212.2 1230.7 1278.2 1322.5 1451.3 1543.6 1601.5 1568.8 1483.0 1977—J AN...| -FEB...| -MAR...| -APR...| -MAY...| -JUN...I —JUL...1 —AUG...| -SEP...| —OCT...1 -NOV...I -DEC...| 12530.9 12633.6 12758.5 12917.3 13113.6 13331.6 13570.7 13737.5 13835.5 13889.9 13892.2 13716.7 102.4 102.7 124.9 158.8 196.4 217.9 239.2 166.8 98.0 54.4 2.2 -175.5 197 8-JAN...! -FEB...| -MAR...| -APR...I -MAY...| -JUN...| —JUL ...| -AUG...I -SEP...I —OCT ...| 13658.7 13667.7 13619.9 13623.8 13684.1 13881.0 14161.4 14425.2 14705.2 14852.1 -58.0 9.0 -47.8 3.9 60.3 197.0 280.3 263.9 280.0 146.9 | | | | | | | | | | I | 1 | I | | | I I | I | BORROWERS PERCENTAGE CHANGE FROM PREVIOUS THOUSANDS YEAR 12.3 11.3 11.3 11.9 AVERAGE SIZE PERCENTAGE CHANGE FROM PREVIOUS YEAR -0.7 12.3 12.6 13.8 14.6 15.0 14.5 13.5 334.8 334.8 335.1 335.6 336.3 336.9 337.7 338.5 339.1 340.3 341.5 341.4 1474.3 1499.0 1495.9 1518.2 1605.7 1696.0 1781.6 1752.6 1717.2 1630.9 1540.7 1288.1 13.3 13.5 13.3 13.3 14.0 14.6 15. 1 14.6 14.2 13.3 12.5 10.4 342.1 342.0 342.6 343.4 344.6 345.3 346.1 346.8 347.9 348.6 349.8 348.7 2.2 1127.8 1034.2 861.4 706.5 570.5 549.5 590.6 687.7 869.7 962.2 9.0 348.0 346.3 344.6 344.1 344.2 344.3 345.3 346.9 348.2 349.5 12.0 8.2 6.8 5. 5 4.4 4* 1 4.4 5.0 6.3 6.9 -0.1 0.3 1.0 1.0 1.1 1.3 1.4 1.6 1.9 2.0 2. 1 2.1 2.2 2.3 2.5 2.5 2.5 2.4 2.6 2.4 2.4 2. 1 1.7 1.3 0.6 0.2 -0.1 -0.3 -0.2 0.0 0.1 0.3 DOLLARS 33023. 33256. 33605. 33965. 34218. 34540. 34911. 35401. 35735. 36019. 36172. 36401. 36634. 36945. 37246. 37620. 38057. 38606. 39215. 39608. 39774. 39840. 39712. 39331. 39250. 39472. 39522. 39588. 39757. 40319. 41012. 41578. 42236. 42492. PERCENTAGE CHANGE FROM PREVIOUS YEAR 13.1 11.4 11.0 10.8 10.9 11.1 11.2 12.2 12.8 12.9 12.3 11.2 10.9 11.1 10.8 10.8 11.2 11.8 12.3 11.9 11.3 10.6 9.8 8.0 7.1 6.8 6.1 5.2 4.5 4.4 4.6 5.0 6.2 6.7 TABLE 212.1 6 PRODUCTION CREDIT ASSOCIATIONS LOANS MADE AND NEW LOANS LOANS MADE MILLIONS | OF | DOLLARS | 1 1976-JAN -FEB,.. -MAR... -APR... —MAY... —J UN... -JUL... -AUG.. . -SEP... -OCT... -NOV... —DEC ... 1794.8 1594.0 1932.3 1714.3 1412.4 1438.6 1177.3 1178.1 1168.5 1210.5 1487.8 2146.9 197 7—J AN... -FEB... -MAR... —APR... -MAY... —J UN... -JUL... -AUG... -SEP... -OCT... -NOV... — DEC... 1973.7 1830.1 2196.2 1874.2 1652.2 1614.8 1292.0 1281.2 1284.4 1325.8 1545.4 2179.1 1978—J AN... -FEB... —MAR... -APR... —MAY... -JUN... —JUL... -AUG... -SEP... -OCT... 2054.0 1911.6 2414.1 2027.6 1909.4 1788.1 1544.2 1595.9 1576.7 1803.8 | | I 1 1 | | | | | | | | | I | | ! | | | | | | | | | | | | | | | | I I PERCENTAGE CHANGE FROM PREVIOUS MONTH -11.2 -11.2 21.2 -11.3 -17.6 1.9 -18.2 0.1 -0.8 3.6 22.9 44.3 I YEAR NEW LOANS AS PERCENTAGE OF LOANS OUT-| STANDING*! 13.6 12.8 32.6 18.3 12.3 19.1 3.6 20.1 9.9 -2.0 24.5 6.2 16.7 14.9 17.9 15.4 12.4 12.3 9.8 9.7 9.5 9.8 12.2 17.9 -8.1 -7.3 20.0 -14.7 -11.8 -2.3 -20.0 -0.8 0.2 3.2 16.6 41.0 I ! I I 1 | | | | | | ! | | 1 | 1 \ | | | 1 1 I I 10.0 14.8 13.7 9.3 17.0 12.3 9.7 8.8 9.9 9.5 3.9 1.5 16.2 15.1 17.9 14.9 12.8 12.1 9.4 9.1 9.1 9.4 11.2 16.2 -5.7 -6.9 26.3 -16.0 -5.8 -6.4 -13.6 3.4 -1.2 14.4 | I | | 1 | 1 I i | 4.1 4.5 9.9 8.2 15.6 10.7 19.5 24.6 22.8 36.0 15.3 14.4 18.2 15.1 14.0 12.9 10.8 10.9 10.6 12.1 | | I | | | | 1 I I | | 1 I | 1 | I | | | I | | | 1 | | I | I I I | | | 1 MILLIONS OF COLL EC- I DOLLARS TIONS 1 PERCENTAGE CHANGE FROM PREVIOUS MONTH | YEAR 169.0 205.4 221.8 206.3 193.3 173.6 162.8 153.0 131.0 114.8 122.7 189.0 | | | | | | | | I | | I 1030.5 887.3 1170.0 1139.1 1021.3 1129.6 911 .9 896.1 895.6 904.2 1025.0 1358.7 -21.6 1.0 — 0.8 167.9 209.0 218.7 216.7 206.3 198.5 181.5 144.9 125.5 103.5 112.6 160.6 | | | | | | | | | | | | 1122.1 1007.5 1309.9 1211.3 1203 .5 1227.3 -17.4 8.9 13.5 146.5 190.9 190.8 187.5 174.0 176.4 174.8 151.4 138.7 110.2 | | | | | 1 1 | | | 1176.5 1040.3 1447.3 1285.2 1374.3 1408.7 1217.5 1246.2 1238.2 1419.6 1000.6 979.2 961.8 998.9 1052.6 1345,0 -13.9 31.9 -2.6 -10.3 10.6 -19.3 -1.7 -0.1 13.4 32.6 -10.2 30.0 -7.5 — 0.6 2.0 -18.5 -2.1 -1.8 3.9 5.4 27.8 -12.5 -11.6 39.1 -11.2 6.9 2.5 -13.6 2.4 — 0.6 14.6 10.2 10.9 39.5 23.3 16.4 21.9 6.4 21.8 10.6 25.4 3.4 12.0 6.3 17.8 8.6 9.7 9.3 7.4 10.5 2.7 AS PERCENTAGE OF LOANS OUTSTANDING* 9.6 8.3 10.8 10.2 8.9 9.6 7.6 7.4 7.3 7.3 8.4 11.3 9.2 8.3 10.7 9.6 9.3 9.2 7.3 7.0 6.8 7.1 7.6 -1.0 10.0 4.8 3.3 10.5 8.7 7.9 10.9 9.6 6.1 14.2 14.8 21.7 27.3 28.7 42.1 10.1 10.1 8.5 8.5 8.3 9.5 * OUTSTANDING LOANS AT END OF PRECEDING MONTH. "NEW LOANS" ARE COMPUTED AS LOANS MADE LESS RENEWALS. RENEWALS INCLUDE SOME NONAGRICULTURAL LOANS (SEE NOTE ON PAGE 3). TABLE 212.3 PRODUCTION CREDIT ASSOCIATIONS LOANS MADE AND NEW LOANS TWELVE-MONTH MOVING TOTAL LOANS MADE 1 MILLIONS | OF | 1 I DOLLARS 1 1 1 1976-JAN...| -FEB...| -MAR...| -APR...| -MAY...I -JUN...I -JUL ...| -AUG...I -SEP...I —OCT..•| -N0V...1 -DEC...I | 1977—J AN...| -FEB...| -MAR...I -APR...| -MAY...| -JUN...| -JUL...| -AUG..•| -SEP...| -OCT...I -NOV...I -DEC...| j 197 8-JAN...| -FEB...| -MAR...| -APR...j -MAY... | -JUN...| -JUL...j —AUG...1 -SEP...I -OCT...| PERCENTAGE CHANGE FROM PREVIOUS MONTH I YEAR 16211.7 16393.2 16868.2 17133.2 17288.0 17519.0 17560.0 17757.2 17862.2 17837.4 18129.8 18255.5 | | | | | | | | | | | | 1.3 1.1 2.9 1.6 0.9 1.3 0.2 1.1 0.6 -0.1 1.6 0.7 | | | | | | 1 I | i | | 12.2 12.1 14.4 15.0 15.2 14.8 14.5 15.8 15.4 14.5 15.9 14.1 18434.4 18670.5 18934.5 19094.4 19334.2 19510.4 19625.1 19728.3 19844.1 19959.4 20017.1 20049.3 | | | | | | | J | | | | 1 | | | | | | 1 1 | | 1.0 1.3 1.4 0.8 1.3 0.9 0.6 0.5 0.6 0.6 0.3 0.2 | I | | | | | | | | | | 1 | | | | | | 1 1 | | 20129.6 20211.1 20428.9 20582.3 20839.5 21012.8 21264.9 21579.6 21871.9 22349.8 0.4 0.4 1.1 0.8 1.2 0.8 1.2 1.5 1.4 2.2 NEW LOANS AS PERCENTAGE OF LOANS OUTSTANDING* 155.8 156.1 159.3 160.4 160.4 COLLECTIONS MILLIONS OF DOLLARS PERCENTAGE CHANGE FROM PREVIOUS 159.7 159.9 159.0 156.9 157.7 157.0 167.6 166.5 166.3 166.8 166.8 166.7 167.6 169.0 169.9 170.0 168.3 167.7 10843.6 10930.9 11261.9 11477.1 11621.1 11824.0 11878.8 12039.0 12124.5 12117.2 12324.7 12369.3 0.9 0.8 3.0 1.9 1.3 1.7 0.5 1.3 0.7 -0.1 1.7 0.4 13.7 13.9 12.2 11.4 11.8 11.4 11.8 11.1 11.1 11.9 10.4 9.8 156.9 157.3 158.0 157.7 158.0 157.7 156.8 155.7 154.8 153.9 152.8 151.6 167.6 168.2 168.5 169.5 170.5 172.3 173.5 172.7 171.7 169.4 167.6 164.8 12460.9 12581.0 12720.9 12793.0 12975.2 13072.9 13161.6 13244.7 13310.9 13405.7 13433.3 13419.6 0.7 1.0 1.1 0.6 1.4 0.8 0.7 0.6 0.5 0.7 0.2 -0.1 9.2 8.3 7.9 7.8 7.8 7.7 8.4 9.4 10.2 12.0 151.0 150.6 151.3 151.6 152.9 153.6 154.9 156.6 158.0 162.5 161.5 159.9 158.4 156.8 155.8 155.6 156.0 156.8 156.3 13474.0 13506.8 13644.2 13718.1 13888.9 14070.3 14287.2 14554.3 14830.7 15251.4 0.4 0.2 1.0 0.5 1.2 1.3 1.5 1.9 1.9 2.8 161.0 160.6 | MONTH | | | I | | | | | | | | j | | I | | | | | 1 | | | j | | | | | | | | j | YEAR AS PERCENTAGE OF LOANS OUTSTANDING* 8.7 9.1 12.6 14.4 15.6 15.5 15.4 17.2 16.9 15.8 17.1 15.1 104.2 104.1 106.4 107.4 107.8 108.6 108.1 108.4 107.9 106.6 107.2 106.4 14.9 15.1 13.0 11.5 11.7 10.6 10.8 10.0 9.8 10.6 9.0 8.5 8.1 7.4 7.3 7.2 7.0 7.6 8.6 9.9 11.4 13.8 COLLECTIONS 106.1 106.0 106.1 105.6 106.1 105.7 105.2 104.5 103.8 103.4 102.5 101.5 1 | | | | | | 1 | | I | 1 | | | | | | 1 | | | | | 113.3 113.3 113.2 113.5 114.4 115.5 116.4 115.9 115.2 113.8 112.5 110.3 101.1 100.6 101.0 101.1 101.9 102.8 104.1 105.6 107.2 109.6 | | | | | | | | | | 108.7 107.9 106.8 105.6 104.5 104.3 104.6 105.2 106.4 106.6 112.1 111.1 111.0 111.7 112.1 112.5 113.4 114.6 115.3 115.5 114.4 113.6 * AVERAGE OUTSTANDING LOANS DURING THE PRECEDING 12 MONTHS (AVERAGE OF END-OF-MONTH DATA). DATA), "NEW LOANS" ARE COMPUTED AS LOANS MADE LESS RENEWALS. RENEWALS INCLUDE SOME NONAGRICULTURAL LOANS (SEE NOTE ON PAGE 3). 7 TABLE 213.1 PRODUCTION CREDIT ASSOCIATIONS RENEWALS AND COLLECTIONS RENEWALS MILLIONS I OF | DOLLARS 1 1 1976—J AN.• -FEB. . -MAR.. -APR.. -MAY.. —JUN.. —JUL.. -AUG.. —SEP.. -OCT.. -NOV.. — DEC •. 1977—J AN.. -FEB.. -MAR.. -APR.. -MAY.. —J UN.. 764.3 706.7 762.2 575.2 391.1 309.0 265.4 282.0 273.0 306.4 462.8 788.3 —AUG.. -SEP.. —OCT.. -NOV.. -DEC.. 851.6 822.7 886.4 662.9 448.7 387.6 291.4 302.1 322.6 326.9 492.8 834.2 1978—J AN.. -FEB.. -MAR.. -APR.. -MAY.. -JUN.. -JUL.. -AUG.. -SEP.. -OCT.. 877.5 871.4 966.7 742.5 535.1 379.4 326.6 349.7 338.4 384.2 —JUL.. I | 1 1 | | | | | | | | | | | j | 1 | 1 | | J | | | | | J I 1 | | I | I PERCENTAGE CHANGE FROM PREVIOUS MONTH 8.1 -7.5 7.9 -24.5 -32.0 -21.0 -14.1 6.2 -3.2 12.2 51.1 70.3 8.0 -3.4 7.7 -25.2 -32.3 -13.6 -24.8 3.7 6.8 1.3 50.8 69.3 5.2 -0.7 10.9 -23.2 -27.9 -29.1 -13.9 7.1 -3.2 13.5 | I I | | | I | | I | 1 | j | | | 1 | | \ | | | | I | | | \ 1 | I I I | | YEAR 1 I AS PERCENTAGE OF | MILLIONS OF 1 LOANS OUTLOANS COLLECT. &| DOLLARS STANDING* MADE RENEWALS | 18.5 15.4 23.3 9.5 2.8 10.0 -4.9 15.1 7.7 -5.4 22.5 11.5 7.1 6.6 7.0 5.2 3.4 2.6 2.2 2.3 2.2 2.5 3.8 6.6 42.6 44.3 39.4 33.6 27.7 21.5 22.5 23.9 23.4 25.3 31.1 36.7 41.8 47.7 46.7 40.9 34.9 27.2 26.8 26.8 23.4 22.5 27.6 41.0 11.4 16.4 16.3 15.2 14.7 25.4 9.8 7.1 18.2 6.7 6.5 5.8 7.0 6.8 7.2 5.3 3.5 2.9 2.1 2.2 2.3 2.3 3.6 6.2 43.1 45.0 40.4 35.4 27.2 24.0 22.6 23.6 25.1 24.7 31.9 38.3 42.0 48.4 46.9 43.4 35.9 32.3 29.0 25.5 24.0 20.3 26.4 38.1 3.0 5.9 9.1 12.0 19.3 -2.1 12.1 15.8 4.9 17.5 6.5 6.6 7.3 5.5 3.9 2.7 2.3 2.4 2.3 2.6 42.7 45.6 40.0 36.6 28.0 21.2 21.2 21.9 21.5 21.3 38.5 46.5 43.3 40.7 32.8 27.2 27.0 24.9 22.9 19.0 | | ( | | | | 1 j | | | 1 | | | | | | | | j | | | 1 | I I | | 1 | | | | * OUTSTANDING LOANS AT END OF PRECEDING MONTH. RENEWALS AND COLLECTIONS INCLUDE SOME NONAGRICULTURAL LOANS (SEE NOTE ON PAGE 3). COLLECTIONS PERCENTAGE CHANGE FROM PREVIOUS MONTH | YEAR 1062.2 775.9 871.3 831.2 730.7 828.5 723.4 769.8 892.2 1054.8 1212.4 1135.8 4.3 -27.0 12.3 -4.6 -12.1 13.4 -12.7 6.4 15.9 -4.4 4.2 0.9 14.9 -6.3 29.6 11.5 1175.3 875.5 1004.4 865.0 800.8 813.7 711.8 884.4 1023.3 1281.0 1372.0 1356.7 3.5 -25.5 14.7 -13.9 -7.4 1402.0 1001.5 1265.1 1081.4 1097.5 1014.0 883.2 1054.2 1136.5 1636.2 18.2 1.6 -12.5 24.3 15.7 25.2 7.1 -1.1 3.3 -28.6 26.3 -14.5 1.5 -7.6 -12.9 19.4 7.8 44.0 18.9 28.6 52.1 18.7 15.0 20.8 -2.0 10.6 12.8 15.3 4.1 9.6 -1.8 — 1.6 14.9 14.7 21.4 13.2 19.5 19.3 14.4 26.0 25.0 37.0 24.6 24.1 19.2 11.1 27.7 AS PERCENTAGE OF | LOANS OUT-| STANDING*! TABLE 213.3 PRODUCTION CREDIT ASSOCIATIONS RENEWALS AND COLLECTIONS TWELVE-MONTH MOVING TOTAL RENEWALS 1 MILLIONS | OF | 1 1 DOLLARS | 1 1 1976—JAN...| -FEB...! -MAR.•.j -APR...I -MAY...I -JUN...I -JUL...I -AUG...| -SEP... I -OCT...| -NOV...| -DEC...| j 1977—JAN...| -FEB...j -MAR...| -APR...j -MAY...| -JUN...| —JUL...I -AUG...! -SEP...I -OCT...! -NOV...I -DEC...| j 1978-J AN... | -FEB... 1 -MAR...I -APR...| -MAY...! -JUN...I -JUL...; -AUG...I -SEP...; -OCT...| PERCENTAGE CHANGE FROM PREVIOUS MONTH 1 5368.1 5462.3 5606.3 5656.1 5666.9 5695.0 5681.2 5718.3 5737.7 5720.3 5805.1 5886.3 | 1 1 1 J | | | 1 | | | 2.3 1.8 2.6 0.9 0.2 0.5 -0.2 0.7 0.3 -0.3 1.5 1.4 5973.6 6089.5 6213.6 6301.4 6358.9 6437.5 6463.5 6483.6 6533.2 6553.8 6583.8 6629.7 1 | 1 | | | 1 | | | | | 1.5 1.9 2.0 1.4 0.9 1.2 0.4 0.3 0.8 0.3 0.5 0.7 6655.6 6704.3 6784.7 6864.2 6950.6 6942.5 6977.7 7025.4 7041.2 7 098.5 ; | J I * | 1 | J | 0.4 ; 0.7 1.2 1.2 1.3 -0.1 0.5 0.7 0.2 0.8 | | ; 1 | | 1 1 i ; 1 | | 1 1 1 ! 1 i | 1 | | 1 1 1 ; I 1 1 1 | | | YEAR COLLECTIONS AS PERCENTAGE OF ]F LOANS OUTSTANDING* LOANS MADE COLLECT. & RENEWALS MILLIONS I OF * DOLLARS | 1 20.1 18.6 18.2 16.2 14.4 13.5 12.6 12.7 12.6 11.8 13.4 12.1 51.6 52.0 52.9 53.0 52.6 52.3 51.7 51.5 51.1 50.3 50.5 50.6 33.1 33.3 33.2 33.0 32.8 32.5 32.4 32.2 32.1 32.1 32.0 32.2 35.7 35.7 35.6 35.5 35.3 35.1 35.2 35.2 35.3 35.3 35.0 35.1 9670.4 9843.1 10141.5 10272.2 10367.2 10509.8 10476.7 10507.8 10516.1 10494.3 10771.0 10888.2 11.3 11.5 10.8 11.4 12.2 13.0 13.8 13.4 13.9 14.6 13.4 12.6 50.9 51.3 51.8 52.0 52.0 52.0 51.6 51.2 51.0 50.5 50.3 50.1 32.4 32.6 32.8 33.0 32.9 33.0 32.9 32.9 32.9 32.8 32.9 33.1 35.2 35.4 35.6 35.9 35.9 36.2 36.4 36.2 36.1 35.7 35.5 35.3 11001.2 11100.8 11233.9 11267.7 11337.8 11323.1 11311.5 11426.1 11557.3 11783.4 11942.9 12163.9 11.4 10.1 9.2 8.9 9.3 7.8 8.0 8.4 7.8 8.3 49.9 50.0 50.2 50.6 51.0 50.7 50.8 51.0 50.9 51.0 33.1 33.2 33.2 33.4 33.4 33.0 32.8 32.6 32.2 31.8 34.9 34.9 34.7 34.6 34.3 34.0 33.8 33.7 33.6 33.2 12390.6 12516.7 12777.4 12993.9 13290.6 13490.8 13662.2 13832.0 13945.2 14300.4 | 1 | 1 | | i | | | | | j 1 | | | | | 1 i | | | 1 j | | | | 1 ; | | | | PERCENTAGE CHANGE FROM PREVIOUS MONTH | YEAR AS PERCENTAGE OF LOANS OUTSTANDING* 1.8 1.8 3.0 1.3 0.9 1.4 -0.3 0.3 0.1 -0.2 2.6 1.1 | | | 1 1 | 1 * | | | | 18.4 20.4 24.6 24.6 24.1 22.7 20.2 19.2 16.1 14.0 15.8 14.6 93.0 93.7 95.8 96.2 96.2 96.6 95.3 94.6 93.6 92.3 93.7 93.7 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 | | 1 I 1 | | 1 * 1 | 13.8 12.8 10.8 9.7 9.4 7.7 8.0 8.7 9.9 12.3 10.9 11.7 93.7 93.6 93.7 93.1 92.7 91.5 90.4 90.2 90.1 90.9 91.2 92.0 1.9 1.0 2.1 1.7 2.3 1.5 1.3 1.2 0.8 2.5 1 1 | 1 | | | 1 | 1 12.6 12.8 13.7 15.3 17.2 19.1 20.8 21.1 20.7 21.4 93.0 93.3 94.6 95.7 97.5 98.6 99.5 100.4 100.8 102.8 * AVERAGE OUTSTANDING LOANS DURING THE PRECEDING 12 MONTHS (AVERAGE OF END-OF-MONTH DATA), RENEWALS AND COLLECTIONS INCLUDE SOME NONAGRI CULTURAL LOANS (SEE NOTE ON PAGE 3). 9 AGRICULTURAL FINANCE DATABOOK—MONTHLY SERIES 220 NOVEMBER 1978 FEDERAL LAND BANKS (AGRICULTURAL LOANS) 221 LOANS OUTSTANDING 221.1 222 LOANS CLOSED 222.1 222.3 223 ACTUAL 12-MONTH MOVING TOTAL REFINANCING AND REPAYMENTS 224.1 224.3 SOURCE: ACTUAL 12-MONTH MOVING TOTAL NEW MONEY LOANED 223.1 223.3 224 ACTUAL ACTUAL 12-MONTH MOVING TOTAL !.!!l7 "FEDERAL LAND BANKS—SUMMARY OF SELECTED MONTHLY LOAN DATA," TECHNICAL SERVICES DIVISION, FARM CREDIT ADMINISTRATION. DATA IN THIS SECTION ARE OBTAINED FROM TIMELY MONTHLY REPORTS WHICH ARE NOT REVISED TO REFLECT ANY SUBSEQUENT CHANGES OR CORRECTIONS. IF ONLY YEAR-END DATA ON OUTSTANDING LOAN VOLUME ARE REQUIRED, USE THE SERIES IN SECTION 100 QF THE A£R1£ULTU&AL_E1NANCE DATABOOK—ANNlJftl SFRIF%. NOVEMBER 1977. # • TABLE 221.1 FEDERAL LAND BANKS LOANS OUTSTANDING (END OF MONTH) AMOUNT MILLIONS OF DOLLARS OUTSTANDING 1 CHANGE FROM PREVIOUS 1 MONTH | YEAR NUMBER PERCENTAGE CHANGE FROM PREVIOUS MONTH 1976—J AN.. .1 -FEB...| -MAR...1 -APR.••| —MAY... I -JUN...I -JUL...I -AUG...1 —SEP...| —OCT... I -NOV...I —DEC..•| 16189.9 16369.6 16699.9 16946.2 17159.6 17403.2 17622.7 17806.2 17982.2 18147.7 18320.3 18524.2 | | | | | | | | | | I | 176.1 179.7 330.3 246.4 213.3 243.6 219.5 183.5 176.0 165.5 172.6 203.9 | 2533.7 | 2489.9 | 2520.7 | 2505.2 2466.7 I | 2464.9 | 2477.9 | 2473.6 2464.3 1 J 2436.0 | » 2483.1 | 2510.4 1.1 1.1 2.0 1.5 1.3 1.4 1.3 1.0 1.0 0.9 1.0 1.1 1977—JAN...| -FEB...1 -MAR...I -APR...| -MAY...| -JUN...1 —JUL... I -AUG...I -SEP...| —OCT... I -NOV...I —DEC...| | 1978-JAN...I -FEB...| —MAR ...| -APR...| -MAY...| -JUN...I -JUL...1 -AUG...I -SEP...! -OCT...| 18692.7 18921.9 19330.8 19625.0 19916.8 20190.2 20440.8 20658.0 20873.7 21057.0 21258.2 21464.9 | | | I 1 1 | | | | | | 168.5 229.2 409.0 294.2 291.8 273.4 250.6 217.2 215.7 183.3 201.2 206.6 | | | | I | | | | | I | 2502.8 2552.3 2631.0 2678.8 2757.3 2787.0 2818.1 2851.8 2891.5 2909.3 2938.0 2940.7 0.9 1.2 2.2 1.5 1.5 1.4 1.2 1.1 1.0 0.9 1.0 1.0 21672.2 21895.7 22234.1 22480.7 22806.7 23130.7 23394.6 23677.6 23938.7 24210.9 1 | I | 1 | | | | | 207.3 223.5 338.4 246.6 326.0 324.0 263.9 283.0 261.1 272.3 | I | | I 1 | | I I 2979.5 2973.8 2903.3 2855.7 2889.9 2940.4 2953.7 3019.6 3064.9 3153.9 1.0 1.0 1.5 1.1 1.4 1.4 1.1 1.2 1.1 1.1 | 1 1 j | | | I | I I | | I j | | I I | | | | | | I 1 j I | | ! | | I | I I YEAR | i PERCENTAGE! THOUSANDS CHANGE | FROM LAST! YEAR | 1 AVERAGE SIZE DOLLARS PERCENTAGE CHANGE FROM LAST YEAR 18.6 17.9 17.8 17.3 16.8 16.5 16.4 16.1 15.9 15. 5 15.7 15.7 443.2 443.7 445.1 446.0 447.0 448.2 449.0 449.9 450.4 450.7 450.6 450.8 3.1 2.8 2.7 2.5 2.3 2.2 2.1 2.0 1.9 1.9 1.8 1.8 | I 1 | 1 | | | | 1 | | 36533. 36895. 37522. 37998. 38389. 38832. 39246. 39581. 39924. 40267. 40662. 41088. 15.0 14.7 14.7 14.5 14.2 14.0 14.0 13.8 13.7 13.4 13.6 13.6 15.5 15.6 15.8 15.8 16.1 16.0 16.0 16.0 16.1 16.0 16.0 15.9 450.9 451.5 452.9 453.8 454.8 456.0 457.0 457.8 458.6 459.1 459.3 459.5 1.7 1.8 1.8 1.8 1.7 1.8 1.8 1.8 1.8 1.9 1.9 1.9 | | | | | 1 | ! | | | ! 41457. 41909. 42684. 43243. 43792. 44273. 44732. 45124. 45519. 45868. 46289. 46711. 13.5 13.6 13.8 13.8 14.1 14.0 14.0 14.0 14.0 13.9 13.8 13.7 15.9 15.7 15.0 14.6 14.5 14.6 14.5 14.6 14.7 15.0 459.8 460.4 461.3 461.8 463.1 464.6 465.8 467.2 468.4 469.5 2.0 2.0 1.9 1.8 1.8 1.9 1.9 2.1 2.1 2.3 | | 1 | | j | | 1 ! 47136. 47559. 48193. 48680. 49247. 49787. 50225. 50677. 51104. 51564. 13.7 13.5 12.9 12.6 12.5 12.5 12.3 12.3 12.3 12.4 TABLE 222.1 FEDERAL LAND BANKS LOANS CLOSED AMOUNT MILLIONS OF DOLLARS PERCENTAGE CHANGE FROM PREVIOUS MONTH 1976-J AN• -FEB. —MAR. -APR. -MAY. -JUN. -JUL. -AUG. -SEP. -OCT. -NOV. -DEC. 392.9 346.8 527.6 436.4 363.7 405.0 367.1 320.7 323.2 313.6 350.6 437.6 1977-JAN. -FEB. -MAR. -APR. -MAY. -JUN. —JUL. —AUG. -SEP. -OCT. -NOV. -DEC. 463.7 429.5 679.0 521.3 518.3 506.0 492.2 402.9 379.8 358.6 418.9 448.9 1978-JAN. -FEB. -MAR. -APR. -MAY. -JUN. -JUL. -AUG. -SEP. -OCT. 502.7 433.0 618.9 492.1 570.7 559.7 461.9 480.7 454.9 485.9 NUMBER | YEAR 4.8 -11.7 52.1 -17.3 -16.7 11.4 -9.4 -12.6 0.8 -3.0 11.8 24.8 6.0 -7.4 58.1 -23.2 -0.6 -2.4 -2.7 -18.2 -5.7 -5.6 16.8 7.2 12.0 -13.9 42.9 -20.5 16.0 -1.9 -17.5 4.1 -5.4 6. 8 * OUTSTANDING LOANS AT END OF PRECEDING MONTH THOUSANDS AVERAGE SIZE PERCENTAGE! CHANGE | FROM LAST! YEAR | 4.8 4.5 6.4 5.4 4.9 5.2 4.5 4.4 4.2 4.1 4.5 5.0 -13.3 -12.6 11.2 -2.6 -8.3 0.9 -6.2 9.0 -3.0 -7.1 20.0 1.0 4.9 4.7 6.8 5.6 5.8 5.9 4.8 4.8 4.5 4.4 4.8 5.0 2.4 5.6 6.6 4.6 19.0 13.4 7.3 10.1 7.0 6.4 8.5 -0.9 4.9 4.5 5.9 4.9 5.9 5.9 4.8 5.3 4.7 5.2 -0.2 -4.7 -13.3 -12.8 1.2 0.5 1.3 10.9 4.4 19.9 1 | | 1 | | 1 I I | I | 1 | I | | | | 1 I I | | | i | | | I | | I | | | AS PERCENTAGE OF 1 PERCENTAGE! LOANS 1 DOLLARS 1 CHANGE OUT| 1 I FROM LAST! STANDING*! ! YEAR 1 1 REPAYMENTS 81586. 77645. 82736. 81166. 74546. 78265. 82357. 73457. 77572. 76534. 78511. 86699. ! 1 1 1 1 1 ! 1 1 1 1 1 13.8 14.3 8.0 13.0 4.6 7.7 18.3 2.0 7.3 5.7 11.4 15.6 | | I 1 | I | | | | | | 2.5 2.1 3.2 2.6 2.1 2.4 2.1 1.8 1.8 1.7 1.9 2.4 I I I 1 I | I I ! I I | 263.8 337.4 478.0 432.2 449.2 502.8 466 .1 442.0 407.4 381.7 330.2 309.2 94058. 91013. 99833. 92640. 89273. 86233. 102888. 83792. 85203. 82240. 86442. 89729. 1 1 1 1 1 1 1 1 1 1 I 1 15.3 17.2 20.7 14.1 19.8 10.2 24.9 14.1 9.8 7.5 10.1 3.5 1 1 | | | 1 | 1 1 1 | | 2.5 2.3 3.6 2.7 2.6 2.5 2.4 2.0 1.8 1.7 2.0 2.1 I | I I I I I I | I | | 223.4 367.1 475.2 475.5 457.7 403.8 374.2 435.2 516.3 389.3 340.3 301.0 102187. 96334. 104921. 100255. 97164. 94900. 95272. 90130. 97744. 92918. 1 1 1 1 1 1 1 1 1 1 8.6 5.8 5.1 8.2 8.8 10.1 -7.4 7.6 14.7 13.0 1 | | 1 | | i | | 1 2.3 2.0 2.8 2.2 2.5 2.5 2.0 2.1 1.9 2.0 1 ! I ! ! I | I I I 248.9 360.2 406.3 380.8 447.4 473.0 453.3 473.5 523.8 429.8 TABLE 222.3 FEDERAL LAND BANKS LOANS CLOSED TWELVE-MONTH MOVING TOTAL I I AMOUNT I MILLIONS I OF I DOLLARS PERCENTAGE CHANGE FROM PREVIOUS MONTH 1976—JAN -FEB -MAR -APR -MAY, -JUN -JUL -AUG -SEP -OCT -NOV -DEC ..I ..I ..I ...I 4214.4 4214.2 4302.4 4342.1 4326.7 4359.2 4395.3 4427.6 4440.2 4434.2 4522.5 4585.3 1977-JAN. —FEB. -MAR. -APR. -MAY. -JUN. —J UL •- . 1 — AUG. -SEP. -OCT. ..I -NOV. ..I -DEC. 4656.1 4738.7 4890.1 4975.0 5129.6 5230.6 5355.7 5437.9 5494.4 5539.4 5607.7 5619.1 197 8—J AN. -FEB. -MAR. -APR. -MAY. -JUN. -JUL. —AUG. ..I -SEP. ..I -OCT. 5658.0 5661.6 5601.5 5572.3 5624.7 5678.4 5648.1 5725.9 5801.0 5928.2 NUMBER -0.1 -0.0 2.1 0.9 -0.4 | YEAR 5.2 2.8 2.6 2.2 -0.1 1.5 1.4 3.3 5.0 5.2 5.0 1.4 8.7 0.8 0.8 0.7 0.3 2.0 1.5 1.8 3.2 1.7 3.1 8.2 10.5 12.4 13.7 14.6 18.6 2.0 20.0 1.0 0.8 1.2 0.2 23.7 24.9 24.0 22.5 0.7 21.5 19.5 14.5 12.0 9.7 2.4 1.5 0.1 -1.1 -0.5 0.9 1.0 -0.5 1.4 1.3 2.2 21.9 22.8 8.6 5.5 5.3 5.6 7.0 AVERAGE SIZE 1 PERCENTAGE| THOUSANDS CHANGE [ FROM LASTI YEAR | 57.8 57.2 57.8 57.7 57.2 57.3 57.0 57.3 57.2 56.9 57.6 57.7 -7.9 -9.8 -9.2 -9.1 -9.2 -8.8 -8.4 -5.3 -4.8 -4.5 -1.6 -1.5 57.8 58.1 58.5 58.7 59.7 60.4 60.7 61.1 61.4 61.7 62.1 62.0 -0.0 1.5 1.1 1.8 4.2 5.4 6.5 6.6 7.3 8.4 7.7 7.5 62.0 61.8 60.9 60.2 60.2 60.3 60.3 60.8 61.0 61.9 7.3 6.4 4.1 2.4 0.9 -0.2 -0.6 -0.5 ^0.6 0.4 | 1 | | | | | I | 1 | I | | | | | | 1 | | | | | | 1 | | | | 1 | | | | | DOLLARS AS PERCENTAGE OF PERCENTAGE! LOANS | CHANGE | OUT| FROM LASTI STANDING*! YEAR | 1 72886. 73701. 74412. 75288. 75600. 76105. 77136. 77212. 77608. 77932. 78459. 79480. 14.3 14.1 12.9 12.5 11.7 11.2 12.7 10.9 10.5 10.0 9.9 10.3 | | | | | | | | | | I | 28.2 27.8 28.0 27.9 27.4 27.3 27.1 27.0 26.7 26.4 26.6 26.6 | | | 1 | | I | 1 | | | 451.0 433.0 423.7 412.5 404.1 399.7 397.5 393.6 389.1 384.5 383.6 386.9 80548. 81622. 83619. 84707. 85983. 86669. 88264. 88970. 89470. 89819. 90369. 90616. 10.5 10.7 12.4 12.5 13.7 13.9 14.4 15.2 15.3 15.3 15.2 14.0 | | | | | | | | | | | | 26.7 26.9 27.4 27.5 28.0 28.2 28.6 28.6 28.6 28.5 28.4 28.2 374.3 376.7 378.9 382.9 385.3 380.1 374.8 375.3 380.7 381.2 381.5 380.3 91260. 91648. 92020. 92634. 93400. 94245. 93642. 94112. 95040. 95762. 13.3 12.3 10.0 9.4 8.6 8.7 6.1 5.8 6.2 6.6 | | | | | | | | I | 28.0 27.7 27.1 26.6 26.6 26.5 26.1 26.1 26.2 26.4 | | | 1 | | | 1 | | | | 1 I I | | | | | | | 1 * AVERAGE OUTSTANDING LOANS DURING THE PRECEDING 12 MONTHS (AVERAGE OF END-OF-MONTH DATA). REPAYMENTS 384.4 383.8 377.3 370.4 370.4 375.7 381.1 384.1 385.7 388.7 TABLE 223.1 FEDERAL LAND BANKS NEW MONEY LOANED MILLIONS | OF | DOLLARS | 1 197 6—JAN.•. -FEB... —MAR.•. -APR... -MAY... — J UN.•. —JUL... —AUG-.• -SEP... -OCT... -NOV... —DEC..• 325.0 282.5 440.7 347.3 294.3 324.2 298.3 256.1 255.4 247.6 278.7 345.5 1977—J AN... — FEB. . . — MAR ... -APR... -MAY... —J UN.*. -JUL... — AUG.• . -SEP.. . —OCT... -NOV... —DEC... 376.1 346.2 551.9 403.9 405.0 398.7 382.1 309.8 289.3 275.4 324.3 355.8 1978—J AN.•. -FEB... —MAR•.. —APR.•. -MAY... -JUN... -JUL... —AUG.. . -SEP... -OCT... 409.3 343.7 490.7 375.8 453.5 442.3 365.8 384.5 347.9 385.3 | | | | I | I | | | | | | 1 ! | | | 1 I | | | | | | j | 1 | | | | | | | PERCENTAGE CHANGE FROM PREVIOUS MONTH j YEAR LOANS OUT-| STANDING*! 4.2 -13.1 56.0 -21.2 -15.3 10.2 -8.0 -14.1 -0.3 -3.0 12.6 23.9 | | | | | | | I | I | I — 2.8 — 1.8 19.9 6.7 -6.5 5.9 10.4 6.3 2.7 -6.2 35.5 10.7 2.0 1.7 2.7 2.1 1.7 1.9 1.7 1.5 1.4 1.4 1.5 1.9 8.9 -8.0 59.4 -26.8 0.3 -1.6 -4.2 -18.9 -6.6 -4.8 17.7 9.7 | | I 1 I | | | | | | 1 15.7 22.5 25.2 16.3 37.6 23.0 28.1 21.0 13.3 11.2 16.3 3.0 2.0 1.9 2.9 2.1 2.1 2.0 1.9 1.5 1.4 1.3 1.5 1.7 15.0 -16.0 42.8 -23.4 20.7 -2.5 -17.3 5.1 -9.5 10.7 | I I | | I J | | | 8.8 -0.7 -11.1 -6.9 12.0 10.9 -4.3 24.1 20.3 39.9 1.9 1.6 2.2 1.7 2.0 1.9 1.6 1.6 1.5 1.6 * OUTSTANDING LOANS AT END OF PRECEDING MONTH. AS PERCENTAGE OF | | 1 | | | 1 | | | j | 1 | | | | | | | | | | I | 1 | | | | | | | | | I LOANS CLOSED 82.7 81.5 83.5 79.6 80.9 80.0 81.3 79.8 79.0 79.0 79.5 78.9 81. 1 80.6 81.3 77.5 78.1 78.8 77.6 76.9 76.2 76.8 77.4 79.3 81.4 79.4 79.3 76.4 79.5 79.0 79.2 80.0 76.5 79.3 # # # # # # TABLE 223.3 FEDERAL LAND BANKS NEW MONEY LOANED TWELVE-MONTH MOVING TOTAL MILLIONS | OF | DOLLARS | 1 197 6—JAN.••| —FEB...| —MAR. . . 1 -APR...| -MAY...| —JUN...1 -JUL...| -AUG...| -SEP...I — OCT... I -NOV...1 —DEC...| 3468.2 3463.2 3536.2 3557.9 3537.3 3555.5 3583.6 3598.7 3605.4 3589.1 3662.1 3695.6 1977—JAN...| —FEB...I —MAR.••j —APR...| — MAY ...| -JUN...| —JUL...j -AUG...I -SEP...| -OCT...I -NOV...| -DEC... | 3746.6 3810.3 3921.5 3978.0 4088.7 4163.2 4247.1 4300.8 4334.7 4362.5 4408.0 4418.3 1978—JAN...| -FEB...| -MAR...| -APR.. . 1 -MAY... | -JUN...| —JUL.• • | -AUG.. . | -SEP...! -OCT... I 4451.5 4449.1 4387.9 4359.9 4408.4 4452.0 4435.7 4510.5 4569.1 4679.0 I | | | | | | | | | | | | | | | J | | | | 1 | ) I i | j | 1 | | | | | | PERCENTAGE CHANGE FROM PREVIOUS MONTH | -0.3 | -0.1 | 2.1 I 0.6 | -*0 . 6 | 0.5 I 0.8 | 0.4 1 0.2 1 -0.5 | 2.0 | 0.9 | YEAR AS PERCENTAGE OF LOANS OUT-| STANDING*! 2.4 0.1 0.1 -0.2 -1.1 -1.1 0.9 2.5 3.0 2.6 6.3 6.3 23.2 22.8 23.0 22.8 22.4 22.2 22.1 21.9 21.7 21.3 21.5 21.5 1.4 1.7 2.9 1.4 2.8 1.8 2.0 1.3 0.8 0.6 1.0 0.2 | | | | I | I | 1 | | | 8.0 10.0 10.9 11.8 15.6 17.1 18.5 19.5 20.2 21.5 20.4 19.6 21.5 21.6 22.0 22.0 22.3 22.5 22.6 22.6 22.5 22.4 22.4 22.1 0.8 -0.1 -1.4 -0.6 1.1 1.0 -0.4 1.7 1.3 2.4 | | i | I I | | j | 18.8 16.8 11.9 9.6 7.8 6.9 4.4 4.9 5.4 7.3 22.0 21.8 21.2 20.8 20.8 20.8 20.5 20.6 20.6 20.9 1 | 1 1 | f 1 I | I | | 1 } | I I 1 | | | | I i I 1 | | i ! | 1 1 | | 1 LOANS CLOSED 82.3 82.2 82.2 81.9 81.8 81.6 81.5 81.3 81.2 80.9 81.0 80.6 80.5 80.4 80.2 80.0 79.7 79.6 79.3 79.1 78.9 78.8 78.6 78.6 78.7 78.6 78.3 78.2 78.4 78.4 78.5 78.8 78.8 78.9 * AVERAGE OUTSTANDING LOANS DURING THE PRECEDING 12 MONTHS (AVERAGE END-OF-MONTH DATA) TABLE 224.1 FEDERAL LAND BANKS REFINANCING AND REPAYMENTS REFINANCING OF FEDERAL LAND BANK LOANS MILLIONS I OF I DOLLARS | 1 1976-JAN... —FEB... —MAR... —APR... -MAY... — J UN..• -JUL... —AUG..» -SEP... -rQCT ... -NOV... -DEC... 67.9 64.3 86.9 89.1 69.4 80.8 68.8 64.6 67.9 66.0 71.8 92.1 1977—JAN... —FEB... —MAR... —APR... -MAY... —J UN... -JUL... —AUG... -SEP... -OCT... -NOV... — DEC.. . 1978—J AN.. . -FEB... —MAR... -APR... -MAY... -JUN... —JUL... —AUG... —SEP... —OCT... PERCENTAGE CHANGE FROM PREVIOUS MONTH 87.6 83.3 127.1 117.4 113.3 107.3 110.1 93.1 90.5 83.2 94.6 93.1 | | | 1 | | I | | | j I | | I | | | 1 | | | | | | -4.9 -4.9 52.6 -7.6 -3.5 -5.3 2.6 -15.4 -2.8 -8.0 13.7 -1.5 93.4 89.3 128.2 116.2 117.2 117.4 96.1 96.1 107.0 100.6 | | | | 1 | | I I | 0.3 -4.4 43.6 -9.4 0.8 0.2 -18.2 0.1 11.3 -6.0 8.0 -5.2 35.2 2.5 -22.1 16.5 -14.9 -6. 1 5.0 -2.7 8.8 28.3 | | | I | | | | | | | | | | | | | | | 1 J | | I | | | I | | I | 1 I I I 1 YEAR 1 REPAYMENTS AS PERCENTAGE OF j LOANS OUT-I 1 STANDING*! LOANS CLOSED MILLIONS I OF | DOLLARS I 1 6.9 8.0 21.3 25.3 8.0 21.5 13.3 36.4 9.5 18.5 27.2 46.6 1 1 1 1 1 1 1 1 1 1 1 1 0.42 0.40 0.53 0.53 0.41 0.47 0.40 0.37 0.38 0.37 0.40 0.50 I 1 | I | | I | | | | | 17.3 18.5 16.5 20.4 19.1 20.0 18.7 20.2 21.0 21.0 20.5 21.1 149.0 102.8 110.4 101.0 81.0 80.5 78.8 72.6 79.3 82.2 106.2 141.5 29.1 29.5 46.2 31.8 63.2 32.8 60.0 44.1 33.3 26.1 31.7 1.1 1 1 1 1 1 1 1 1 I 1 I 1 i 1 0.47 0.45 0.67 0.61 0.58 0.54 0.55 0.46 0.44 0.40 0.45 0.44 | | | | | | | | | | | | | 1 1 | | 1 I I | | I I 18.9 19.4 18.7 22.5 21.9 21.2 22.4 23.1 23.8 23.2 22.6 20.7 207.6 117.0 142.9 109.6 113.3 125.3 131.5 92.6 73.5 92.1 123.1 149.1 18.6 20.6 20.7 23.6 20.5 21.0 20.8 20.0 23.5 20.7 202.0 120.2 152.3 129.2 127.6 118.3 101.9 101.5 86.8 113.1 6.6 7.2 0.9 -1.0 3.5 9.4 -12.7 3.3 18.2 20.8 1 1 1 1 1 1 1 1 1 1 0*44 0.41 0.59 0.52 0.52 0.51 0.42 0.41 0.45 0.42 | I | I I | | | I I | | 1 | | | | I | J | | | | | 1 | | | | | | | | | | PERCENTAGE CHANGE FROM PREVIOUS MONTH 10.0 -31.0 7.4 -8.5 -19.8 -0.5 -2.2 -7.9 9.3 3.6 29.2 33.3 46.7 -43.6 22.1 -23.3 3.3 10.6 5.0 -29.6 -20.5 25.3 33.6 21.1 35.4 -40.5 26.7 -15.2 -1.3 -7.2 -13.9 -0.4 -14.4 30.2 | I | | I ( | | | | | 1 | 1 | | | | | | | | | | | | i I I | I I I | | | | * OUTSTANDING LOANS AT END OF PRECEDING MONTH. "REFINANCING OF FEDERAL LAND BANK LOANS" IS COMPUTED AS LOANS CLOSED LESS NEW MONEY LOANED. "REPAYMENTS" ARE COMPUTED AS NEW MONEY LOANED LESS THE CHANGE IN LOANS OUTSTANDING. YEAR 1 AS PERC E N T A G E OF 1 LOANS OUT1 STANDING* 10.6 60.6 61.9 58.3 28.6 32.9 23.7 36.4 25.4 17.2 32.2 4.5 1 1 1 1 1 1 1 1 j 1 1 1 0.93 0.64 0.67 0.60 0.48 0.47 0.45 0.41 0.45 0.46 0.59 0.77 39.3 13.8 29.5 8.6 39.9 55.6 67.0 27.6 -7.3 12.1 15.9 5.4 1 1 1 1 I 1 1 1 1 1 1 1 1.12 0.63 0.76 0.57 0.58 0.63 0.65 0.45 0.36 0.44 0.58 0.70 -2.7 2.7 6.6 17.9 12.6 -5.6 -22.5 9.7 18.1 22.7 1 1 1 1 I 1 1 1 1 1 0.94 0.55 0.70 0.58 0.57 0.52 0.44 0.43 0.37 0.47 TABLE 224.3 FEDERAL LAND BANKS REFINANCING AND REPAYMENTS TWELVE-MONTH MOVING TOTAL REFINANCING OF FEDERAL LAND BANK LOANS MILLIONS | OF | DOLLARS | 1 1976—JAN. *• | -FEB. .. | -MAR-.. | —APR ... 1 -MAY...| -JUN...| -JUL...| -AUG...| -SEP...| -OCT ... I -NOV...| —DEC ... 1 746.2 751.0 766.3 784.2 789.3 803.6 811.7 828.9 834.8 845.1 860.5 889.7 1977—J AN...| —FEB...I —MAR... I -APR...| —MAY... 1 —JUN...| -JUL...I -AUG... | —SEP...| —OCT... I -NOV...| — DEC ... 1 909.5 928.5 968.6 997.0 1040.9 1067.3 1108.6 1137.1 1159.7 1176.9 1199.7 1200.7 1978-JAN...1 —FEB...| —MAR... 1 —APR...| -MAY...| -JUN...I -JUL...| -AUG...| —SEP...| —OCT...| 1206.5 1212.5 1213.6 1212.4 1216.3 1226.4 1212.4 1215.4 1231.9 1249.2 1 | 1 | | | | 1 | 1 | | j | | | ] | | | | I | | | j | | | | I | | | | 1 PERCENTAGE CHANGE FROM PREVIOUS MONTH 0.6 0.6 2.0 2.3 0.7 1.8 1.0 2.1 0.7 1.2 1.8 3.4 | YEAR REPAYMENTS AS PERCENTAGE OF LOANS OUT—| STANDING*! LOANS CLOSED MILLIONS I OF | DOLLARS I 1 21.0 17.3 16.0 15.2 14.5 14.3 15.0 17.3 15.8 16.8 16.9 19.9 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.1 5.0 5.0 5.1 5.2 I | | | 1 | | 1 I | | | 17.7 17.8 17.8 18.1 18.2 18.4 18.5 18.7 18.8 19.1 19.0 19.4 934.5 973.3 1015.5 1052.7 1070.7 1090.6 1105.7 1125.0 1141.1 1153.2 1179.0 1185.2 2.2 2.1 4.3 2.9 4.4 2.5 3.9 2.6 2.0 1.5 1.9 0.1 | | I | | | | I | | | | 1 I I | | | | | | | I | | 21.9 23.6 26.4 27.1 31.9 32.8 36.6 37.2 38.9 39.3 39.4 35.0 5.2 5.3 5.4 5.5 5.7 5.8 5.9 6.0 6.0 6.0 6.1 6.0 | | | | | I | 1 | | 1 I 19.5 19.6 19.8 20.0 20.3 20.4 20.7 20.9 21.1 21.2 21.4 21.4 0.5 0.5 0.1 -0.1 0.3 0.8 -1.1 0.2 1.4 1.4 | | 1 | | | 1 I I 1 32.7 30.6 25.3 21.6 16.9 14.9 9.4 6.9 6.2 6.1 6.0 5.9 5.9 5.8 5.7 5.7 5.6 5.5 5.6 5.6 | | | | | | | I | 1 21.3 21.4 21.7 21.8 21.6 21.6 21.5 21.2 21.2 21.1 PERCENTAGE CHANGE FROM PREVIOUS MONTH 1243.8 1258.0 1290.5 1299.2 1331.4 1376.2 1429.0 1449.0 1443.2 1453.1 1470.1 1477.7 | | | | | | | | | 1 | | J | | | | 1 | | | | | | | 4.9 1.1 2.6 0.7 2.5 3.4 3.8 1.4 -0.4 0.7 1.2 0.5 1472.0 1475.3 1484.7 1504.3 1518.6 1511.6 1482.0 1490.9 1504.2 1525.1 | | | | | | | | 1 | -0.4 0.2 0.6 1.3 1.0 -0.5 -2.0 0.6 0.9 1.4 1.6 4.1 4.3 3.7 1.7 1.9 1.4 1.7 1.4 1.1 2.2 0.5 | | | I | | | | | | I I I 1 | | | | | | | | | | | | 1 I | | | | | | | 1 | AVERAGE OUTSTANDING LOANS DURING THE PRECEDING 12 MONTHS (AVERAGE OF END-OF-MONTH DATA), "REFINANCING OF FEDERAL LAND BANK LOANS" IS COMPUTED AS LOANS CLOSED LESS NEW MONEY LOANED. "REPAYMENTS" ARE COMPUTED AS NEW MONEY LOANED LESS THE CHANGE IN LOANS OUTSTANDING. YEAR AS PERCENTAGE OF LOANS OUTSTANDING* 11.7 17.7 23.7 28.7 30.1 31.0 31.8 34.3 33.0 33.7 34.5 28.8 6.3 6.4 6.6 6.8 6.8 6.8 6.8 6.9 6.9 6.9 6.9 6.9 33.1 29.3 27.1 23.4 24.4 26.2 29.2 28.8 26.5 26.0 24.7 24.7 7.1 7.1 7.2 7.2 7.3 7.4 7.6 7.6 7.5 7.5 7.5 7.4 18.4 17.3 15.0 15.8 14.1 9.8 3.7 2.9 4.2 5.0 7.3 7.2 7.2 7.2 7.2 7.1 6.8 6.8 6.8 6.8 AGRICULTURAL FINANCE DATABOOK—MONTHLY SERIES 230 LIFE INSURANCE COMPANIES 231 FARM MORTGAGES OUTSTANDING 231.1 232 ACTUAL FARM MORTGAGES ACQUIRED 232. 1 232.3 233 SOURCE: ACTUAL 12-MONTH MOVING TOTAL ! 1!!!!!!!!!I!!!!!!!!!!] FARM MORTGAGE COMMITMENTS OUTSTANDING 233.1 NOVEMBER 1978 ACTUAL "MONTHLY STATISTICAL REPORT," AMERICAN COUNCIL OF LIFE INSURANCE. TABLE 231.1 LIFE INSURANCE COMPANIES FARM MORTGAGES OUTSTANDING END OF MONTH MILLIONS OF DOLLARS AMOUNT CHANGE FROM PREVIOUS MONTH 1976-JAN. -FEB. — MAR. -APR. -MAY. -JUN. -JUL. -AUG. -SEP. -OCT. -NOV. -DEC. 6731. 6769. 6815. 6876. 6946. 7005. 7072. 7127. 7184. 7219. 7291. 7425. -22. 38. 46 . 1977—J AN. -FEB. -MAR. -APR. -MAY. -JUN. -JUL. -AUG. -SEP. -OCT. -NOV. -DEC. 197 8—JAN. -FEB. -MAR. -APR. -MAY. -JUN. -JUL. -AUG. -SEP. | YEAR PERCENTAGE CHANGE FROM PREVIOUS MONTH -0.3 70. 59. 67. 55. 57. 35. 72. 134. 431. 375. 387. 372. 403. 432. 488. 521. 553. 558. 612. 672. 7434. 7510. 7640. 7814. 7924. 8139. 8235. 8330. 8475. 8569. 8648. 8 843. 9. 76. 130. 174. 110. 215. 96. 95. 145. 94. 79. 195. 703. 741. 825. 938. 978. 1134. 1163. 1203. 1291. 1350. 1357. 1418. 0.1 8903. 9012. 9210. 9379. 9517. 9703. 9820. 9956. 10105. 60. 109. 198. 169. 138. 186. 117. 136. 149. 1469. 1502. 1570. 1565. 1593. 1564. 1585. 1626. 1630. 61. 0.6 0.7 0.9 1.0 0.8 1.0 0.8 0.8 0.5 1.0 1.8 1.0 1.7 2.3 1.4 2.7 1.2 1.2 1.7 1.1 0.9 2.3 0.7 1.2 2.2 1.8 1.5 2.0 1.2 1.4 1.5 19 TABLE 232.1 LIFE INSURANCE COMPANIES FARM MORTGAGES ACQUIRED MILLIONS OF DOLLARS | 1 CHANGE FROM PREVIOUS! 1 | MONTH YEAR | AMOUNT PERCENTAGE CHANGE FROM PREVIOUS MONTH 197 6-J AN... | -FEB...| -MAR...| — APR.. . | -MAY...| -JUN...| — JUL... | -AUG...| —SEP...| -OCT...| -NOV...| -DEC...I 100. 116. 136. 128. 125. 131. 138. 106. 123. 79. 116. 242. -53. 16. 20. -8. -3. 6. 7. -32. 17. -44. 37. 126. | | | 1 | 1 I | | | 1 | 20. -48. 17. 8. 50. 56. 83. 53. 61. 25. 51. 89. 1 1 | | | | | | | | I | -34.6 16.0 17.2 -5.9 -2.3 4.8 5.3 -23.2 16.0 -35.8 46.8 108.6 1977—J AN...| —F EB. . . | -MAR...| —APR...j —MAY.•.I -JUN...| -JUL...| —AUG...| -SEP...| —OCT...| -NOV...| —DEC...) 160. 156. 233. 256. 214. 278. 168. 188. 209. 144. 135. 319. -82. —4. 77. 23. -42. 64. -110. 20. 21. -65. -9. 184. | I | | | | | | 1 | | 1 60. 40. 97. 128. 89. 147. 30. 82. 86. 65. 19. 77. | | | | | | | | | | | | -33.9 -2.5 49.4 9.9 -16.4 29.9 -39.6 11.9 11.2 -31.1 -6.3 136.3 197 8-J AN...| -FEB...j -MAR...| —APR...| —MAY.. . I —JUN...| -JUL...| —AUG...| -SEP...I 200. 206. 284. 271. 251. 273. 203. 204. 223. -119. 6. 78. -13. -20. 22. -70. 1. 19. | I J | I | | | 1 40. 50. 51. 15. 37. -5. 35. 16. 14. | | | | | | | | | -37.3 3.0 37.9 -4.6 -7.4 8.8 -25.6 0.5 9.3 * OUTSTANDING MORTGAGES AT END OF PRECEDING MONTH. # # # # # # | 1 I | I | | 1 | | | | | | 1 | | i | | | | | | | I | 1 1 I | | | | | | | YEAR 25.0 -29.3 14.3 6.7 66.7 74.7 150.9 100.0 98.4 46.3 78.5 58.2 60.0 34.5 71.3 100.0 71.2 112.2 21.7 77.4 69.9 82.3 16.4 31.8 25.0 32.1 21.9 5.9 17.3 -1.8 20.8 8.5 6.7 AS PERCENTAGE OF MORTGAGES OUTSTANDING* 1.5 1.7 2.0 1.9 1.8 1.9 2.0 1.5 1.7 1.1 1.6 3.3 2.2 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 TABLE 232.3 LIFE INSURANCE COMPANIES FARM MORTGAGES ACQUIRED TWELVE-MONTH MOVING TOTAL MILLIONS OF DOLLARS AMOUNT CHANGE FROM PREVIOUS MONTH 1976—J AN.• -FEB.. -MAR.. -APR.. -MAY.. -JUN.. -JUL.. —AUG.. -SEP.. —OCT.. -NOV.. —DEC.. 1095. 1047. 1064. 1072. 1122. 1178. 1261. 1314. 1375. 1400. 1451. 1540. 1977—J AN.. -FEB.. -MAR.. -APR.. -*MAY .. -JUN.. —JUL.• -AUG.. -SEP.. —OCT•• -NOV.. —DEC•• 1600. 1640. 1737. 1865. 1954. 2101. 2131. 2213. 2299. 2364. 2383. 2460. 1978—JAN.. -FEB.. -MAR.. -APR.. -MAY.. —JUN.. -JUL.. -AUG.. -SEP.. 2500. 2550. 2601. 2616. 2653. 2648. 2683. 2699. 2713. 20. -48. 17. 8. 50. 56. 83. 53. 61. 25. 51. 89. 60. 40. 97. 128. 89. 147. 30. 82. 86. 65. 19. 77. 40. 50. 51. 15. 37. -5. 35. 16. 14. | YEAR 97. -51. -29. -49. 21. 99. 223. 296. 350. 393. 432. 465. 505. 593. 673. 793. 832. 923. 870. 899. 924. 964. 932. 920. 900. 910. 864. 751. 699. 547. 552. 486. 414. PERCENTAGE CHANGE FROM PREVIOUS MONTH 1.9 -4.4 YEAR AS PERCENTAGE OF MORTGAGES OUTSTANDING* 9.7 -4.6 -2.7 —4.4 1.9 9.2 21.5 29.1 34. 1 39.0 42.4 43.3 22.1 46.1 56.6 63.3 74.0 74.2 78.4 69.0 68.4 67.2 68.9 64.2 59.7 22.7 23.1 24.3 25.8 26.7 28.4 28.5 29.2 29.9 30.4 30.2 30.7 1.4 56.3 55.5 49.7 40.3 35.8 1.3 25.9 30.7 30.9 31.0 30.7 30.7 30.2 30.1 29.9 29.6 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 1.6 2.0 2.0 0.6 -0.2 0.6 0.5 26.0 22.0 18.0 16.7 15.9 16.1 16.1 16.8 17.5 18.7 19.3 20.1 20.3 20.9 * AVERAGE OUTSTANDING MORTGAGES DURING THE PRECEDING 12 MONTHS (AVERAGE OF END-OF-MONTH DATA) , 21 TABLE 233.1 LIFE INSURANCE COMPANIES OUTSTANDING FARM MORTGAGE COMMITMENTS END OF MONTH MILLIONS OF DOLLARS AMOUNT CHANGE FROM PREVIOUS MONTH 1976—J AN. -FEB. -MAR. -APR. -MAY. —J UN. — JUL. -AUG. -SEP. -OCT. -NOV. -DEC. 466.0 477.0 479.0 501.0 482.0 490.0 487.0 494.0 520.0 582.0 592.0 553.0 1977—J AN. -FEB. -MAR. -APR. -MAY. -JUN. -JUL. -AUG. -SEP. -OCT. -NOV. -DEC. 567.0 614.0 603.0 663.0 680.0 671.0 673.0 696.0 745.0 769.0 782.0 768.0 23.0 49.0 24.0 13.0 -14.0 742.0 -26. 0 1978—J AN. -FEB. -MAR. -APR. -MAY. -JUN. —JUL. -AUG. 818.0 827.0 846.0 800.0 869.0 856.0 841.0 7.0 11.0 2.0 22.0 -19.0 8.0 -3.0 7.0 26.0 62.0 10.0 -39.0 14.0 47.0 -11.0 60.0 17.0 -9.0 2.0 76.0 9.0 19.0 -46.0 69.0 -13.0 -15.0 | YEAR -30.0 -23.0 13.0 71.0 69.0 91.0 88.0 89.0 82.0 109.0 86.0 94.0 101.0 PERCENTAGE CHANGE FROM PREVIOUS 3NTH 1.5 2.4 0.4 4.6 -3.8 1.7 -0.6 1.4 5.3 11.9 1.7 -6.6 225.0 187.0 190.0 215.0 2.5 8.3 -1.8 10.0 2.6 -1.3 0.3 3.4 7.0 3.2 1.7 -1.8 175.0 204.0 224.0 183.0 120.0 198.0 183.0 145.0 -3.4 10.2 1.1 2.3 -5.4 8.6 -1.5 -1.8 137.0 124.0 162.0 198.0 181.0 186.0 202.0 | 1 | | | | | | I | | | | | I | | | | | | | | j 1 | | j I | I | | | | | YEAR AS PERCENTAGE OF MORTGAGES OUTSTANDING ACQUIRED IN MONTH —6 . 0 -4. 6 2.8 16.5 16.7 22.8 22.1 22.0 18.7 23.0 17.0 20.5 6.9 7.0 7.0 7.3 6.9 7.0 6.9 6.9 7.2 8.1 8.1 7.4 466.0 411.2 352.2 391.4 385.6 374.0 352.9 466.0 422.8 736.7 510.3 228.5 21.7 28.7 25.9 32.3 41.1 36.9 38.2 40.9 43.3 32.1 32.1 38.9 7.6 8.2 7.9 8.5 8.6 8.2 8.2 8.4 8.8 9.0 9.0 8.7 354.4 393.6 258.8 259.0 317.8 241.4 400.6 370.2 356.5 534.0 579.3 240.8 30.9 33.2 37.1 27.6 17.6 29.5 27.2 20.8 8.3 9.1 9.0 9.0 8.4 9.0 8.7 8.4 371.0 397.1 291.2 312.2 318.7 318.3 421.7 412.3 AGRICULTURAL FINANCE DAT A BOOK—MONTHLY SERIES 300 NOVEMBER 1978 AGRICULTURAL BANKING DATA 301 FARM NON-REAL-ESTATE LOANS 301.1 302 ] 24 SEASONAL BORROWING BY MEMBER BANKS 302.1 310 AMOUNT AND CHANGE FROM PREVIOUS YEAR NUMBER OF BANKS AND AVERAGE DAILY BORROWING 25 DEPOSITS AND LOANS AT AGRICULTURAL BANKS 311 FEDERAL RESERVE DISTRICTS 7 AND 9 311.3 312 PERCENTAGE CHANGE FROM PREVIOUS YEAR, AND LOAN/DEPOSIT RATIO 26 FEDERAL RESERVE DISTRICT 6 AND TEXAS 312.3 PERCENTAGE CHANGE FROM PREVIOUS YEAR, AND LOAN/DEPOSIT RATIO 27 FOR INFORMATION ON THE DESIGN OF THE SEASONAL BORROWING PRIVILEGE FOR WHICH DATA ARE SHOWN IN SECTION 302, AND ALSO AN ANALYSIS OF ITS POTENTIAL AND ACTUAL USE BY AGRICULTURAL BANKS, SEE "SEASONAL BORROWING AT THE FEDERAL RESERVE DISCOUNT WINDOW," BY EMANUEL MELICHAR AND HARRIET HOLDERNESS, A£Rl£iM.URAL_£lMN£J^R£Yi£ii, OCTOBER 1974, PP. 42-51. FOR A BRIEF DISCUSSION OF THE ANALYTICAL VALUE OF THE DATA IN SECTION 310, SEE THE SECTION ENTITLED "FREQUENT DEPOSIT AND LOAN DATA" IN "OVERALL MEASURES OF FINANCIAL PERFORMANCE , " BY EMANUEL MELICHAR, AGRIC1J1 T URAL FINAMfF REVIEW , FEBRUARY 1977, PP. 87-88. 23 TABLE 301.1 24 FARM NON-REAL-ESTATE LOANS AT COMMERCIAL BANKS (END OF MONTH) AMOUNT LARGE I I BANKS 1(MILLIONS I OF I DOLLARS) 197 6—JAN. -FEB. -MAR. -APR. -MAY. -JUN-JUL. — AUG. -SEP, -OCT. -NOV. -DEC. I 3645. 3627. 3710. 3802. 3837. 3959. 3999. 4171. 4247. 4278. 4258. 4262. 1977—JAN. -FEB. -MAR. -APR. -MAY. -JUN. -JUL. -AUG. -SEP. -OCT. -.1 -NOV. ..I -DEC. ..I 4243. 4165. 4268. 4369. 4578. 4694. 4743. 4758. 4794. 4798. 4700. 4700. 197 8—J AN. -FEB. -MAR. -APR. -MAY. - . 1 -JUN. ..I -JUL. ..I -AUG. -SEP. -OCT. I 4639. 4525. 4783. 4793. 5005. 4997. 5148. 5247. 5323. 5437. LARGE-BANK ARE BANKS DATA SHOWN (MARCH AND CHANGE FROM PREVIOUS YEAR ALL COMMERCIAL BANKS (BILLIONS OF DOLLARS) LARGE BANKS (MILLIONS |SEASONALLY OF I ADJUSTED DOLLARS) ACTUAL 20.2 I 20.3 | 20.5 | 20.6 21.6 J 20.7 20.7 21.3 21.5 22.4 22.0 21.2 | 22.2 22.6 22.9 23.0 23.1 23.2 | I 23.2 | 23.3 23.7 | 24.3 24.9 25.6 25.9 26.1 | 26.3 26.1 25.9 25.7 | 1 I | I I I 25.5 | I I 27.0 | I 21.8 22.3 22.7 23.0 23.3 23.5 23.6 23.7 24.0 24.4 24.8 25.2 25.4 25.6 26.0 26.1 26.1 26.0 25.8 26.6 46. 129. 320. 377. 440. 501. 450. 590. 616. 681. 711. 622. 598. 538. 558. 567. 741. 735. 744. 587. 547. 520. 442. 438. 396. 360. 515. 424. 427. 303. 405. 489. 529. 639. ALL COMMERCIAL BANKS (BILLIONS OF DOLLARS) ACTUAL 2.1 SEASONALLY ADJUSTED 2.0 2.2 2.3 2.7 2.9 3.1 3.0 2.9 3.0 3.1 3.2 3.1 3.0 3.0 3.0 2.9 3.0 3.1 3.2 3.1 2.2 3.0 3.0 3.2 3.1 3.3 3.5 2.8 2.5 2.2 2.6 3.0 3.0 3.3 3.1 3.3 3.4 3.4 3.3 3.3 3.1 2.8 2.5 PERCENTAGE CHANGE FROM PREVIOUS YEAR LARGE BANKS ALL COMMERCIAL BANKS ACTUAL 11.6 1.3 3.7 9.4 12.2 13.0 14.5 12.7 16.5 17.0 18.9 14.6 15.5 16.3 15.5 14.7 15.1 15.6 11.0 20.0 17.1 16.4 14.8 15.0 14.9 19.3 18.6 18.6 14.1 12.9 12.2 10.4 10.3 11.8 SEASONALLY ADJUSTED 10.8 12.5 11.9 13.9 16.2 15.2 16.3 15.8 14.9 15.1 15.6 15.9 15.2 14.9 14.8 15.8 14.6 15.3 15.6 15.6 15.5 14.8 13.5 14.6 14.5 15.8 14.6 15.3 15.6 15.5 14.8 14.6 13.5 16.1 12.1 12,0 10.8 10.8 7.5 7.5 5.4 5.4 9.3 1.8 1.4 1.8 1.4 8.6 12.1 9.7 9.3 6.5 8.5 10.3 11.0 13.3 THESE TABLE 302.1 MEMBER BANK BORROWING UNDER SEASONAL BORROWING PRIVILEGE WEEK ENDING ON LAST WEDNESDAY OF MONTH NUMBER OF BANKS AVERAGE DAILY SEASONAL BORROWING (THOUSANDS OF DOLLARS) DEPOSIT SIZE OF BANK TAL UP TO $100 MILLION 1976—J AN.••I —FEB.••I —MAR.*.| -APR...| -MAY...| -JUN...I -JUL...I —AUG..•I -SEP.. . | -OCT...| -NOV... I -DEC.. . I 7. 10. 17. 20. 21. 42. 38. 40. 49. 40. 31. 19. 7. 10. 17. 20. 21. 41. 37. 39. 48. 38. 31. 19. 1977—J AN...I -FEB...I -MAR...I -APR.. . | -MAY...I -JUN... | -JUL... I -AUG... I -SEP... I -OCT... I -NOV...| -DEC... I 8. 10. 17. 21. 45. 59. 63. 99. 92. 81. 53. 34. 8. 10. 17. 21. 44. 55. 59. 89. 83. 74. 45. 31. 23. 31. 51. 43. 93. 109. 128. 161. 160. 159. 117. 23. 31. 49. 42. 85. 100. 122. 150. 147. 144. 102. I I 1978—J AN...I -FEB... I -MAR...| -APR... | -MAY... | -JUN...I —JUL... I -AUG...I -SEP...| —OCT... I -NOV...I 1 OVER | $100 | MILLION I I | 1 1 1 1 | | | | | I | | | 1 | | | | | | | I j | 1 | 1 { 1 | | | | | DEPOSIT SIZE OF BANK TOTAL UP TO $100 MILLION 0. 0. 0. 0. 0. 1. 1. 1. 1. 2. 0. 0. 8267. 8233. 9605. 11153. 11637. 27898. 25957. 23354. 33618. 33297. 27215. 9970. 8267. 8233. 9605. 11153. 11637. 25898. 20243. 17354. 29618. 29154. 27215. 9970. 0. 0. 0. 0. 1. 4. 4. 10. 9. 7. 8. 3. 8113. 11353. 14161. 15030. 34503. 70158. 68701. 130235. 115456. 116094. 74288. 52761. 8113. 11353. 14161. 15030. 32503. 45658. 48508. 80936. 73456. 74794. 41488. 34461. 0. 0. 35588. 52858. 51892. 49400. 114954. 133794. 150938. 206810. 204226. 235448. 180107. 35588. 52858. 50535. 44686. 88968. 101623. 119581. 158153. 156046. 158958. 105834. 2. 1. 8. 9. 6. 11. 13. 15. 15. DEPOSIT SIZE CLASSIFICATION IS BASED ON AVERAGE DEPOSITS IN 1972. | OVER | $100 | MILLION | | | j | 1 j ! | 1 1 1 1 j j | | | 1 | j | | | | 1 1 | | I | 1 | | | | | 0. 0. 0. 0. 0. 2000. 5714. 6000. 4000. 4143. 0. 0. 0. 0. 0. 0. 2000. 24500. 20193. 49299. 42000. 41300. 32800. 18300. 0. 0. 1357. 4714. 25986. 32171. 31357. 48657. 48180. 76490. 74273. TABLE 311.3 26 DEPOSITS AND LOANS AT AGRICULTURAL BANKS SEVENTH AND NINTH FEDERAL RESERVE DISTRICTS SEVENTH FEDERAL RESERVE DISTRICT (CHICAGO) PERCENTAGE CHANGE FROM PREVIOUS YEAR DEPOSITS JLQIAL 1976-J AN. -FEB. -MAR. -APR. -MAY. -JUN. — JUL. -AUG. -SEP. -OCT. -NOV. -DEC. 1977—J AN. -FEB. -MAR. -APR. -MAY. -JUN. -JUL. —AUG. -SEP. -OCT. -NOV. -DEC. 197 8—JAN. -FEB. —MAR • -APR. -MAY. -JUN. — JUL. — AUG. -SEP. -OCT. -NOV. -J DEMAND I TIMF ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* ********* 11.1 3.0 -2.6 14.9 14.7 14.6 14.7 14.7 14.2 14.2 13.9 13.7 12.7 2.2 11.9 4.2 11.7 10.7 11.5 12.0 11.9 11.0 10.3 10.1 9.2 8.1 8.6 9.0 9.5 8.7 8.7 8.6 8.2 8.8 8.7 8.6 9.2 10.0 9.7 1.8 4.3 5.7 5.1 3.4 1.1 0.8 -1.4 0.5 2.6 3.7 3.5 4.0 6.5 7.2 7.0 9.2 11.6 10.2 12.0 11.1 10.6 10.6 9.8 9.7 9.3 9.2 9.2 9.4 9.5 LOANS ********* ********* ********* ********* ********* ********* ********* ********* ********* | 1 I I 1 | | | | | | | | | ********* j ********* j ********* j 18.7 18.5 19.3 18.7 14.6 19.4 20.7 | | | | | | | 21.7 21.3 19.8 19.1 | | | | 21.2 | I 17.1 I 16.4 | 15.1 14.3 13.5 | 13.0 12.0 | 12.9 12.3 12.6 | 13.6 NINTH FEDERAL RESERVE DISTRICT (MINNEAPOLIS) SECOND WEDNESDAY OF MONTH PERCENTAGE CHANGE FROM PREVIOUS YEAR LCANDEPOSIT RATIO DEPOSITS LOANS -LDIAI J QEMANU—L LIME- 0. 537 0.537 0.543 0.545 0.572 0.551 0. 560 0.561 0.558 0.555 0.561 0.568 1 1 1 1 1 1 1 1 1 1 1 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 1 1 1 1 1 1 1 1 1 1 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 1 1 1 1 1 1 1 1 1 1 1 1 14.9 13.3 11.3 11.4 11.0 10.8 10.6 10.9 11.1 12.6 11.8 11.6 1 1 1 1 1 1 1 1 1 1 1 1 9.1 12.8 11.3 10.5 10.9 13.0 11.3 12.4 13.4 14.0 14.4 12.6 1 1 I 1 1 I 1 1 1 1 1 1 0.607 0.619 0.616 0.622 0.635 0.640 0.645 0.649 0.654 0.650 0.644 0.642 0.574 0.574 0.581 0.578 0. 586 0.593 0.612 0.617 0.621 0.623 0.619 0.621 1 1 I 1 1 1 i 1 1 1 1 1 7.4 7.2 8.8 8.7 9. 1 8.6 8.0 7.8 8.5 7.7 7.6 7.4 1 1 1 1 1 1 1 1 1 1 1 1 —0.8 -1.1 0.8 0.2 1.2 1.0 0.8 -0.1 3.3 2.1 3.0 3.2 1 1 1 1 1 1 1 1 1 1 1 1 11.1 10.6 12.1 12.2 12.2 11.7 10.8 11.0 10.6 10.0 9.4 9.1 1 1 1 1 1 1 1 1 1 1 1 1 12.4 12.9 14.7 14.3 14.3 13.4 14.9 14.4 13.4 14.0 14.7 13.7 1 1 1 1 1 1 1 1 1 1 1 1 0.635 0.651 0.650 0.654 0.665 0.669 0.686 0.689 0.684 0.688 0.687 0.680 0.614 1 8.5 0.616 1 7.9 0.617 1 8.2 0.608 1 8.6 0.615 1 8.8 0.616 1 9.6 0.631 1 9.7 0.642 1 8.6 0.639 1 8.8 j********* 0.637 j********* 0.641 1 7.7 1 5.6 1 6.1 1 7.5 1 8.0 1 10.6 1 10.8 1 9.1 1 9.3 |********* j********* 1 8.9 1 8.8 1 9.0 1 9.0 1 9.1 1 9.3 1 9.4 1 8.5 1 8.6 |********* j ********* 1 13.9 1 13.2 1 13.4 1 12.5 1 13.2 1 13.2 1 13.0 1 13.4 1 13.2 |********* j ********* 1 0.666 1 0.683 1 0.681 1 0.677 1 0.692 1 0.690 1 0.707 1 0.719 1 0.711 j ********* j ********* TABLE 312.3 D E P O S I T S AND L O A N S AT A G R I C U L T U R A L BANKS SIXTH FEDERAL RESERVE DISTRICT AND TEXAS SIXTH FEDERAL RESERVE DISTRICT (ATLANTA) MONTHLY AVERAGE ENDING SECOND WEDNESDAY OF MONTH PERCENTAGE CHANGE FROM PREVIOUS YEAR DEPOSITS IQIAL LOANS 1 _1_ |* * * * * * * * * 1 1 1 LOANDEPOSIT RATIO UM£ | TEXAS PERCENTAGE CHANGE FROM PREVIOUS YEAR DEPOSITS I 1 197 6-J AN.. . * * * * * * * * * -FEB... 8.6 -MAR... 9.9 -APR... 10.2 -MAY... 10.7 -JUN... 9.9 -JUL... 9.4 -AUG... 9.7 -SEP... 9.0 -OCT... 9.8 -NOV... 10.9 —DEC... 10.9 | | | | | | | 1 | | | 9.6 7.8 8.2 9.5 8.6 8.2 7.8 5.8 5.9 7.0 7.8 j ********* * * * * * * * * * 1 10.9 5.7 1 11.1 8. 1 11.4 9.3 1 1 11.4 9.0 10.7 1 11.6 10.7 1 12.8 j 10.7 13.4 I 10.7 13.7 1 12.0 13.3 1 13.2 13.7 1 12.7 14.1 I 1 1 1 1 1 1 1 1 1 1 1 0.570 0.567 0.571 0.566 0.573 0.588 0.596 0.603 0.606 0.599 0.596 0.597 15.9 15.4 15.0 15.3 14.1 12.9 12.1 10.5 10.1 10.0 10.2 11.3 1977-J AN... -FEB... -MAR... —APR ... -MAY... -JUN... -JUL... —AUG... -SEP... -OCT... -NOV... -DEC... 10.4 10.3 10.3 10.3 10.0 10.1 10.9 10.8 10.8 9.3 9.7 10.7 j 1 | | I I | | | | | | 6.2 5.2 5.5 5.6 4.6 4.0 5.3 4.6 4.4 3.4 4.5 5.9 1 1 1 1 1 1 1 1 1 1 1 1 12.9 13.2 13.0 13.0 13.0 13.4 13.9 14.0 14.2 12.4 12.5 13.4 15.1 15.0 15.9 15.7 15.0 17.0 17.2 17.7 17.7 18.0 18.5 18.5 1 1 1 1 1 1 1 1 1 1 j 1 0.594 0.598 0.598 0.599 0.616 0.628 0.632 0.643 0.644 0.646 0.642 0.636 11.9 11.7 11.0 11.1 10.8 10.7 10.9 11.2 11.5 11.4 11.3 11.0 1978-J AN... -FEB... -MAR.. . -APR... -MAY... —JUN... -JUL... -&UG... -SEP... —OCT... -NOV... 11.1 10.8 11.9 12.9 13.7 13.4 12.8 12.2 12.7 13.0 12.2 | I | | | | I | | | 1 8.5 7.9 8.9 11.4 13.5 13.2 13.0 12.3 13.9 14.1 11.8 j 1 I 1 1 1 1 1 1 1 1 12.5 12.3 13.6 13.7 13.8 13.6 12.7 12.1 12.1 12.4 12.4 16.9 16.7 17.3 14.4 12.8 12.8 12.7 13.5 14.3 13.8 13.3 1 1 1 1 I 1 1 1 ! 1 1 0.623 0.628 0.622 0.604 0.608 0.620 0.629 0.644 0.647 0.646 0.644 10.5 10.9 11.3 11.8 13.0 13.3 12.6 12.6 12.2 11.8 ********* LOANS 1 1 I | LOANDEPOSIT J RATIO I J | 10.8 0.479 | 12.1 0.477 | 13.0 0.482 | 14.4 0.487 | 16.4 0.507 | 18.2 0.516 | 19.8 0.522 | 21.3 0.533 I 21.3 0.536 | 20.9 0.536 | 20.3 0.531 | 17.6 0.521 1 | 17.4 0.502 | 18.2 0.505 | 18.9 0.516 | 19.9 0.526 | 19.5 0.547 j 19.0 0.555 | 18.9 0.560 | 18.6 0.568 | 18.9 0.572 | 17.8 0.567 I 16.8 0.557 | 17.6 0.552 1 | 15.7 0.526 | 16.1 0.528 | 16.9 0.542 I 15.1 0.541 I 15.1 0.557 I 15.1 0.564 i 15.6 0.575 | 15.7 0.584 | 15.8 0.590 | 16.7 0.592 j ********* ********* | | | | | | | | I | | I 1 | i I | | 1 1 | I | | | 1 | I | | | | | | | I j D A T A F O R T H E S I X T H D I S T R I C T A R E F O R M E M B E R B A N K S A T W H I C H A G R I C U L T U R A L L O A N S C O M P R I S E 15 P E R C E N T OR M O R E O F T O T A L L O A N S . D A T A F O R T E X A S A R E F O R A S A M P L E OF M E M B E R B A N K S AT W H I C H A G R I C U L T U R A L L O A N S C O M P R I S E 2 5 P E R C E N T OR M O R E O F T O T A L L O A N S . " FOR B O T H D I S T R I C T S f LOANS ARE GROSS LOANS LESS FEDERAL FUNDS SOLD AND S E C U R I T I E S P U R C H A S E D UNDER A G R E E M E N T S TO R E S E L L . 28 Recent Federal Reserve Publications in Agricultural Finance Agricultural Credit Conditions Survey, Federal Reserve Bank of Minneapolis, October 1978. "Agricultural Credit Conditions," by Don A. Langford, Agricultural Letter, Federal Reserve Bank of Chicago, November 3, 1978, pp. 1-2. "Farmland Values," by Don A. Langford, Agricultural Letter, Federal Reserve Bank of Chicaao. November 17, 1978, p. 1. "Quarterly Survey of Agricultural Credit Conditions in the Eleventh Federal Reserve District, Statistical Release, Federal Reserve Bank of Dallas, October 31, 1978. "Agricultural Credit Survey Results," Financial Letter, Federal Reserve Bank of Kansas City, November 9, 1978, pp. 1-2.