The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
c* AGRICULTURAL FINANCE DATABOOK October 1979 Quarterly Series Emanuel Melichar Martha Waldheger 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. 2 AGRICULTURAL FINANCE DATABOOK— QUARTERLY SERIES OCTOBER 1979 SECTION 300 PAGE FE DERAL R E S E R V E D I S T R I C T CREDIT C O N D I T I O N S SU RV E Y S 320 C H I C A G O ........................................ 330 M I N N F A P D L I S .......................................................................... 340 K A N S A S C I T Y ................................... ................................... 16 350 D A L L A S ...................... ................................................ ............... 360 R I C H M O N D ....................................... ................................... 19 FIVE F E D E R A L RE S E R V E BANKS CO ND UC T Q U A R T E R L Y S U RV EY S OF C R E D I T C O N D I T I O N S AT C O M M E R C I A L BANK S THAT ARE I N V O L V E D IN F A R M LE ND I N G . EACH OF THE S U R V EY S IS MADE AS OF THE FIRST DA Y OF JA NU AR Y, APRIL, JULY, AND OC TO BE R. THESE DATES C O R R E S P O N D TO LI NE S Q1 T H R O U G H Q4, R E S P E C T I V E L Y , IN THE TABLES. A L T H O U G H THE FIVE S U R V E Y S DI FFER S O M E W H A T IN C O NT EN T, S E R I E S C O V E R I N G SI M I L A R SUBJ EC T MATT ER ARE G R O U P E D INTO TABLES. THE U N I T S D I G I T OF THE TABLE NUMBER I N D I CA TE S THE S U B J E C T MATT ER AREA, AS FO LL O W S : (1) N O N - R E A L - E S T A T E L E N D I N G E X P E R I EN CE ; (2) N O N - R E A L - E S T A T E L E N D I N G E X P E C T A T I O N S ; (3) M E A S U R E S OF LOAN A V A I L A B I L I T Y ; (4) I N T E RE ST RATES; (5) REAL ESTATE VA LUES, L E N D I N G EX PE R I E N C E , A N O LE N D I N G E X P E C T A T I O N S ; AND (6) F A R M E R S • E A R N I N G S AND S P E N DI NG . THE NA T U R E OF THE BA N K S S U R V E Y E D AND THE SIZE OF THE SAMPLE A L S O DIFFER AMON G D I S T R I C T S . TH E S E F A C T O R S AFFECT THE I N T E R P R E T A T I O N OF THE D A T A F O R EACH D I S T R I C T AS WELL AS THE C O M P A R A B I L I T Y OF S I M I L A R SERI ES AM ON G D I S T R I C T S . BASIC I N F O R M A T I O N OF TH IS T Y PE IS GIVEN ON THE T A B L E - O F - C O N T E N T S PA GE FOR EACH DI STRICT. EA C H OF THE F E D E R A L R E S E R V E BANKS ISSUES A Q U A R T E R L Y R E P O R T ON ITS SURVEY R E S U LT S, A V A I L A B L E F R O M THE RE SERVE BANK ON R E Q U ES T. THESE P U B L I C A T I O N S ARE L I S T E D ON THE T A B L E - O F - C O N T E N T S PAGE FOR EA C H D I S T R I C T . FOR A BRIEF D I S C U S S I O N OF THE USES AND OF SOME C O N S I D E R A T I O N S I N V O L V E D IN I N T E R P R E T I N G TH E S E S U R V E Y DATA, SEE THE S E CT IO N " S U R V E Y S OF C R E D I T C O N D I T I O N S " IN " O V E R A L L M E A S U R E S OF FI N A N C I A L P E R F O R M A N C E , " AfifLLLULIURAL F I NA NC E R E V I E W . F E B R U A R Y 1977, PP. 88-93. AGRICU LTU RAL FINANCE DA TA BO OK— QUARTE RL Y SERIES 320 OCTOBER 1979 C H IC AG O 321.1 FA RM NON-RE AL -E ST AT E LENDING EXPERIENCE DURING THE PRECEDING Q U A R T E R ......................................................................4 322.1 FA RM NON-RE AL -E ST AT E LOAN VOLUME EXPECTED DURING THE CURRENT Q U A R T E R ...................................................................... 5 323.1 LO AN /D EP OS IT R A T I O S . . ..................................................... 6 324.1 TYPICAL 325. 1 INTEREST RATES CHARGED TRENDS IN FARM REAL ESTATE VALUES ON FARM L O A N S .......................... 7 AND LOAN V O L U M E ......................8 THE FEDERAL RESERVE BANK OF CH IC AG O HAS CONDUCTED A QUARTERLY LAND VALUE AND CREDIT COND IT IO NS SURVEY FOR OVER 25 YEARS. OVER THIS TIME THE SURVEY HAS UNDERGONE SEVERAL CHANGES. AND THUS HISTORICAL DATA FOR THE CURRENT SERIES ARE AVAILABLE FOR VARYING LENGTHS OF TIME. BEFORE 1973, THE SURVEY COVERED ONLY BANKS THAT WERE MEMBERS OF THE FEDERAL RESERVE SYSTEM. FROM 1969 TO 1972, FOR EXAMPLE, THE BANKS SURVEYED WERE MEMBER BANKS AT WHICH FARM LOANS CO MP RI SE D 10 PER CENT OR MORE OF TOTAL LOANS AS OF 1968, THAT SAMPLfc NUMBERED A B OU T 550 BANKS, WHICH WAS ABOUT 60 PER CENT OF ALL MEMBER BANKS IN THE SEVENTH FEDERAL RESERVE DISTRICT. IN JA NU AR Y 1973, THE SURVEY WAS BROA DE NE D TO COVER NONMEMBER BANKS AT WHICH FARM LOANS COMP RI SE D 25 PER CENT OR MORE OF TOTAL LOANS AS OF JUNE 1972 I EXCEPT IN MICHIGAN, WHERE THE CR IT ER IO N WAS SET AT 10 PER CENT). A TOTAL OF 476 NO NM EM BE R BANKS, RE PR ES EN TI NG 28 PER CE NT OF ALL NONMEMBER BANKS IN THE DISTRICT, RE SPONDED TO A REQUEST TO PA RT IC IP AT E IN THE SURVEY. AS OF 1973, THEREFORE, THE TOTAL SURVEY SAMPLE (BOTH MEMBER AND NONMEMBER BANKS) ROSE TO OVER 1,000 BANKS, OR ABOUT 40 PER CENT OF ALL BANKS IN THE DISTRICT. A TYPICAL RESPONSE RATE EACH QUARTER IS ABOUT 75 PER CENT. SURVEY RESULTS ARE PR ES EN TE D ANO DI SCUSSED IN TIMELY ISSUES OF THE AGRICU LT UR AL L E T T E R , WHICH MAY BE OB TA IN ED FROM THE FEDERAL RESERVE BANK OF CHICAGO, P.O. BOX 834, CHICAGO, ILLINOIS, 60690. 3 4 LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVE NT H FEDERAL RESERVE D I S T R I C T - F E D E R A L RE SERVE BANK OF CHICAGO TABLE 321.1 FARM N O N- RE AL -E ST AT E LE ND IN G EXPERIENCE DU RI NG THE PREC ED IN G QUARTER, CO MPARED WITH A YEAR EA RL IE R PERCENTAGE OF BANKS R E P O RT IN G DATE OF SURVEY 1 i 1 DEMAND FOR LOANS LOWER SAME HIGHER FUND AV AI LA B I L I T Y 1 | 1 LOWER SAME HIGHER 1 9 7 0 - Q 1 ... -Q2... - Q 3 ... - Q 4 . .. 18. 17. 10. 13. 47. 50. 45. 51. 35. 33. 45. 37. 1 1 1 1 33. 29. 25. 13. 54. 58. 61. 64. 13. 13. 14. 23. 1 9 7 1 - Q 1 ... - Q 2 ... - Q 3 ... -Q4... 19. 12. 8. 9. 48. 42. 40. 48. 33. 46. 52. 44. 1 1 1 1 10. 8. 8. 7. 53. 45. 46. 54. 37. 47. 46. 39. 197 2 - Q 1 ... - Q 2 ... -Q3... -Q4... 16. 10. 9. 9. 47. 44. 48. 48. 37. 46. 44. 43. 1 1 1 1 6. 5. 8. 4. 44. 41. 45. 45. 50. 54. 47. 50. 1973-Q1 • • - Q 2 ... ~ Q 3 ... -Q4... 12 > 10. 11. 14. 45. 32. 34. 36. 42. 58. 55. 50. 5. 10. 15. 27. 53. 42. 47. 47. 42. 47. 38. 27. 19 7 4 - Q 1 ... - Q 2 ... - Q 3 ... - Q 4 . .. 21. 20. 14. 20. 33. 33. 31. 33. 46. 47. 56. 46. 16. 11. 32. 45. 43. 45. 47. 41. 41. 44. 21. 14. 1 9 7 5 - Q 1 ... - Q 2 ... ~ Q 3 ... - Q 4 . .• 25. 19, 13. 14. 28. 29. 32. 40. 47. 52. 55. 46. 29. 22. 14. 10. 43. 49. 51. 49. 28. 29. 35. 41. 19 7 6 - Q 1 ... - Q 2 ... - Q 3 ... - Q 4 . •• 15. 10. 8. 10. 36. 39. 37. 40. 49. 51. 55. 50. 11. 11. 9. 13. 48. 48. 48. 49. 41. 41. 43. 38. 1 9 7 7 - Q 1 ... - Q 2 ... - Q 3 ... - Q 4 . •• 8. 6. 3. 4. 34. 27. 26. 30. 58. 67. 72. 65. 12. 17. 25. 37. 46. 50. 47. 49. 42. 33. 28. 14. 1 9 7 8 - Q 1 ... -Q2... - Q 3 ... - Q 4 ... 10. 10. 9. 5. 33. 28. 34. 33. 57. 62. 57. 62. 31. 38. 41. 48. 51. 45. 45. 40. 18. 17. 14. 12. 1979— Q 1 ... - Q 2 ... -Q3. . • -Q4... 16. 11. 11. 13. 33. 23. 31. 34. 51. 67. 58. 54. 1 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 1 I 1 1 1 1 1 1 1 50. 60. 50. 49. 38. 30. 39. 40. 12. 11. 11. 11. 1 l 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 ! 1 I I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 r i i i 1 1 i ! 1 ! LOAN RE PAYMENT RATE LOWER SAME HIGHER 1 RE NE WA LS OR EXTENSIONS! I 1 SAME HI GH ER | 1 LOWER C O LL AT ER AL REQU IR ED LOWER SAME HIGHER 8. 10. 13. 13. 68. 70. 75. 79. 24. 20. 11. 8. 1 1 1 1 18. 18. 10. 9. 62. 65. 71. 74. 20. 17. 20. 17. | | | | 1. 1. 1. 0. 74. 76. 78. 81. 25. 23. 21. 19. 27. 24. 20. 16. 65. 68. 70. 74. 8. 8. 10. 10. 1 1 1 1 7. 7. 7. 9. 59. 63. 67. 72. 34. 30. 26. 19. | | | | 0. 1. 1. 2. 83. 79. 86. 86. 17. 20. 13. 12. 12. 6. 5. 3. 70. 72. 76. 74. 18. 22. 20. 23. 1 1 1 1 16. 17. 19. 20. 69. 73. 74. 72. 15. 10. 7. 8. | | 1 1 1. 1. 2. 1. 87. 88. 91. 92. 13. 11. 8. 7. 22. 9. 7. 6. 54. 57. 66. 65. 24. 34. 27. 30. i 1 1 1 22. 30. 23. 28. 52. 56. 65. 64. 26. 14. 12. 8. | | | 1 1. 2. 3. 2. 93. 88. 86. 84. 6. 10. 11. 14. 6. 8. 27. 28. 46. 49. 59. 59. 48. 43. 14. 13. 1 1 1 1 43. 41 . 13. 11. 47. 47. 57. 58. 10. 12. 30. 32. | i | ! 4. 3. 1. 1. 82. 83. 76. 67. 14. 14. 23. 33. 37. 44. 30. 15. 46. 48. 60. 64. 17. 8. 10. 21. 1 1 1 1 14. 6. 11. 19. 45. 6. 56. 62. 41. 51. 33. 19. | 1 i | 1. 1. 0. 1. 69. 71. 78. 81. 30. 29. 22. 18. 21. 18. 14. 19. 59. 64. 69. 69. 21. 18. 16. 12. 1 1 1 1 20. 17. 16. 12 . 57. 58. 67. 68. 23. 26. 17. 20. I 1 1 | 1. 1. 1. 1. 83. 81. 83. 85. 16. 18. 17. 14. 28. 30. 40. 52. 62. 61 . 55. 45. 10. 9. 6. 4. 1 I 1 1 10. 10. 4. 3. 56. 56. 51. 41. 34. 34. 45. 56. | | | | 1. 0. 0. 0. 83. 83. 80. 73. 16. 17. 19. 26. 50. 46. 29. 28. 42. 45. 61. 61. 9. 9. 10. 12. 1 1 1 t 3. 7. 9. 9. 40. 42. 57. 60. 56. 52. 34. 31. f 1 | ! 0. 0. 0. 0. 77. 71. 76. 75. 23. 29. 24. 25. 26. 30. 22. 21. 56. 55. 65. 69. 18. 15. 13. 10. J 1 1 1 14. 11. 10. 10. 56. 52. 63. 64. 20. 37. 27. 27. | | | ! 1. 0. 0. 0. 75. 69. 74. 67. 24. 31. 26. 33. LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE DISTRI CT— FEDERAL RESERVE BANK OF CHICAG O 5 TABLE 322.1 FARM NON-REAL -E ST AT E LOAN VOLUME EXPECTED DURING THE CURRENT QUARTER, COMP AR ED WI TH VOLUME OF LOANS MADE A YEAR EARLIER PERCENTAGE OF BANKS REPORTING TOTAL 1 |. | LOWER SAME HIGHER 1 1 60. 32. 1 9 7 0 - Q 2 .. . | 8. 59. 29. 13. -Q3...I -Q4...I 61. 29. 10. DATE OF SURVEY 1 9 7 1 - Q 1 ... 1 - Q 2 ... 1 -Q3...I -Q4...I 1 1 9 7 2 - Q I ...1 -Q2...I -Q3...I -Q4...I 1 9 7 3 - Q 1 . .• j -Q2 r . . I -Q3...I -Q4...I i I 1974-Q1...I -Q2...I -Q3...I -Q4...I 1 1 9 7 5 - Q 1 .• . j -Q2...I - Q 3 .. .| -Q4...I I 1 9 7 6 - Q 1 .. . | - Q 2 .. . | -Q3...I -Q4...I j 1 9 77 -Q 1.. .| -Q2...1 -Q3...I -Q4...I 1 1 9 7 8 - Q 1 ... 1 - Q 2 •••1 -Q3...I -Q4...I 1 1 9 7 9 - Q 1 ... 1 —Q 2 ...1 -Q4...| ______ L FEEDER CATTLE LOWER SAME HIGHER 19. 19. 27. 56. 58. 51. 25. 23. 23. 9. 6. 7. 7. 55. 52. 56. 52. 36. 42. 37. 41. 32. 22. 18. 13. 58. 65. 66. 48. 9. 13. 17. 39. 10. 6. 7. 10. 53. 48. 60. 50. 38. 46. 33. 40. 13. 16. 18. 19. 60. 59. 50. 43. 27. 24. 32. 38. 12. 8. 10. 22. 42. 31. 46. 35. 46. 61. 45. 42. 15. 23. 38. 28. 55. 43. 38. 40. 30. 34. 24. 32. 22. 11. 16. 28. 36. 30. 40. 36. 42. 59. 44. 36. 37. 53. 59. 67. 40. 35. 33. 26. 23. 12. 8. 7. 23. 14. 14. 21. 29. 30. 43. 43. 48. 55. 43. 35. 73. 58. 36. 28. 22. 33. 42. 42. 5. 9. 22. 30. 13. 8. 9. 10. 43. 39. 46. 42. 44. 53. 45. 48. 21. 27. 36. 41. 51. 52. 50. 45. 28. 21. 14. 14. 7. 4. 7. 11. 38. 32. 36. 31. 56. 64. 57. 57. 22. 31. 25. 13. 54. 53. 54. 50. 24. 16. 20. 37. 10. 8. 10. 11. 39. 29. 45. 40. 51. 63. 45. 49. 14. 13. 18. 17. 55. 46. 50. 40. 30. 41. 31. 44. 19. 10. 16. 22. 39. 32. 39. 38. 42. 58. 45. 40. 26. 26. 31. 29. 40. 40. 48. 40. 34. 34. 21. 30. DAIRY CROP STORAGE 1 1 HIGHER LOWER SAME HIGHER LOWER SAME 1 I 1 *** * ** 23. 8. 69. 1 *** **♦ *** *** *** *** 1 *** *** *** *** 54. 31. 1 15. 1 *** **♦ *** 57. 29. 1 14. *** *♦* *** *** *** 1 *** *** *** *** *** *** 1 *** *** *** *** 6. 41. 53. 1 1 1 63. 24. 13. 76. 10. 1 13. *** *** 14. 14. 72. 1 *** *** *** *** **# 1 *** *** *** 60. 28. 1 12. 1 1 14. 73. 13. 61. 21. 1 18. 60. 15. 66. 19. 23. 1 16. 24. 60. 16. 50. 38. 1 12. 23. 16. 44. 46. 61. 1 10. 1 1 50. 29. 22. 60. 17. 1 20. 24. 59. 17. 57. 26. 1 17. 57. 27. 62. 11. 30. 1 14. 43. 51. 11. 41. 37. 1 16. 1 1 47. 30. 44. 48. 8. 1 23. 33. 56. 24. 11. 53. 1 23. 27. 25. 66. 9. 57. 1 17. 53. 27. 64. 9. 32. 1 14. I 1 66. 23. 11. 53. 33. 1 14. 65. 13. 57. 22. 25. 1 17. 26. 61. 13. 55. 29. 1 16. 50. 38. 23. 65. 11. 1 12. 1 1 50. 20. 67. 13. 38. 1 11. 18. 54. 32. 21. 62. 1 14. 17. 71. 44. 12. 44. 1 12. 26. 69. 63. 12. 18. ! 11. 1 16. 39. 73. 11. 45. 1 16. 67. 18. 15. 55. 28. 1 17. 15. 57. 29. 73. 12. 1 13. 15. 40. 68. 48. 17. 1 12. | 1 12. 55. 25. 21. 68. 1 20. 65. 18. 55. 25. 17. 1 20. 12. 57. 18. 18. 70. 1 25. 67. 26. 21. 11. 52. 1 23. JL | OP ER AT IN G LOWER SAME HIGHER FARM MACHINERY 1 LOWER SAME HIGHER 8. 10. 9. 49 * 52. 57. 44. 38. 34. 1 1 I 30. 32. 29. 44. 45. 49. 25. 23. 22. 6. 5. 9. 8. 47. 34. 48. 59. 46. 60. 44. 33. i 1 1 1 34. 26. 20. 14. 49. 47. 57. 58. 17. 27. 23. 28. 10. 7. 10. 18. 48. 42. 55. 56. 42. 51. 35. 26. 1 1 1 1 11. 7. 10. 9• 54. 51. 60. 47. 35. 42. 30. 44. 11. 7. 9. 21 . 36. 27. 39. 41. 52. 66. 52. 39. 1 i 1 1 8. 5. 9. 12. 39. 26. 39. 30. 53. 69. 53. 58. 16. 7. 6. 12. 28. 19. 28. 30. 56. 74. 66. 58. 1 1 1 1 15. 8. 22. 25. 28. 28. 37. 36. 56. 64. 42. 40. 9. 4. 7. 18. 21. 18. 32. 42. 70. 78. 61. 40. 1 1 i 1 25. 28 s 26. 15. 35. 36. 40. 40. 39. 36. 34. 45. 9. 7. 7. 8. 36. 31. 38. 40. 55. 62. 56. 52. I 1 1 I 12. 11. 12. 16. 43. 38. 45. 41. 45. 51. 43. 43. 4. 2. 4. 9. 31. 21. 29. 30. 65. 77. 66. 61. 1 1 j 1 16. 14. 30. 55. 41. 39. 39. 30. 43. 48. 30. 15. 8. 7. 9. 13. 31. 23. 38. 40. 61. 71. 53. 47. 1 1 i I 45. 35. 26. 20. 37. 34. 44. 43. 18. 31. 30. ,37. 10. 7. 8. 15. 35. 25. 36. 34. 54. 68. 57. 50. 1 1 1 1 25. 17. 22. 28. 41. 35. 42. 37. 35. 48. 36. 35. 6 LAND VALUE AND CREDIT CONDITIONS SURVEY, TABLE 323.1 LOAN/DEPOSIT RATIOS DATE OF SURVEY PERCENTAGE OF BANKS RE PORTING 1 | AV ER AG E 1 THAT LO AN/DEPOSIT RATI O IS— 1LOAN/DEPOSITI LOWER HIGHER | RA T I O THAN THAN DESIRABLE | <PER CENT) DESIRED J___________ 1 9 7 0 - Q 1 ... | -Q2...I -Q4...J 1 1971-Q1...| -Q2...I -Q3...I -Q4...| j 1972-Q1...| - Q 2 ...| -03 ... I -Q4...| | 1 9 7 3 - Q 1 .. .| -Q2...I -Q3...I - Q 4..•| I 1 1974-Q1...| - 0 2 . ..| -Q3...I -Q4...I j 1975-Q1...I -Q2...I -Q3...I -Q4...I i 1976-Q1...| -Q2...I -Q3...I -Q4...I j 19 7 7 - Q 1 . . . | -Q2. • • | -Q3...I -Q4...I i 1978-Q1•••| - 0 2 . ..t -03...| -Q4...I j 1979-Q1...| -Q2...1 -03...1 -04...1 SEVENT H FEDERAL RESERVE D I S T R I C T - F E D E R A L 55. 55. 56. ♦ ** *** 54. 55. 55. 54. 54. 55. 55. 54. 54. 55. 56. 55. 54. 58 o 57. 57. 56. 56. 57. 57. 56. 57. 59. 59. 59. 61. £4. 62. 64. 64. 66. 65. 67. 67 » 68. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 V 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 i 1 1 1 1 1 1 1 1 1 1 23. 25. 17. *** 49. 47. 46. *♦* 28. 28. 37. *** *** 44. 47. 45. *** 41. 35. 38. *** 15. 18. 17. 46. 52. 49. 55. 36. 34. 32. 31. 17. 14. 19. 14. 51. 51. 45. 41. 32. 32. 34. 37. 17. 17. 20. 22. 48. 52. 36. 30. 32. 31. 37. 38. 20. 17. 27. 32. 32. 35. 39. 42. 36. 37. 39. 36. 32. 28. 22. 22. 42. 44. 43. 41. 34. 36. 33. 34. 23. 20. 24. 25. 39. 35. 32. 22. 35. 37. 30. 32. 26. 28. 38. 46. 27. 23. 22. 19. 32. 33. 33. 28. 41. 44. 46. 52. 17. 15. 14. 15. 33. 27. 31. 33. 50. 58. 55. 52. RE SERVE BANK OF CH IC AG O LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE DISTRICT--;FEDERAL RESERVE BANK OF CHICAGO TABLE 324.1 TYPICAL INTEREST RATES CHARGED ON FARM LOANS (AVERAGE, PER CENT) DATE OF SURVEY . _ _ | | 1 1 1967-Q1...| -Q2...I -Q3...I - Q 4 •.•| FEEDER CATTLE LOANS OPERATING LOANS REAL ESTATE LOANS ***** 6.42 6.41 6.39 6.42 ***** ***** ***** ***** ***** ***** ***** 1968-Q1...I -Q2...I - Q 3 ... 1 -Q 4.•.| 6.52 6.67 6.85 6.86 ***** ***** ***** ***** ***** ***** ***** ***** 1969-QI...| -Q2...| -Q3...I - Q 4 ... 1 6.85 7.04 7.19 7.47 ***** ***** ***** ***** ***** ***** ***** ***** 1 9 7 0 - Q 1 ... 1 -Q2. ..| -Q3 ... | - Q 4 ... 1 1 1971-Q1...| -Q2...I -Q3. ..1 -Q4...| 1 1 9 7 2 - Q 1 ... I -Q2 ... | - Q 3 ... 1 -Q4...I 1 19 7 3 - Q I ... 1 -Q2...| -Q3...I -Q4...| ■ 1 1 9 7 4 - Q I ... I - Q 2 ... 1 -Q3...I -Q4...I i 1 1 9 7 5 - Q 1 ... 1 - Q 2 .. .| — Q 3. • . | -Q4...I i 1 1 9 7 6 - Q 1 .. .| -Q2...| -Q3...I -Q4...I 7.59 7.73 7.78 7.81 ***** ***** ***** ***** 7.81 ***** 8.00 ***** 7.81 7.58 7.57 7.57 ***** ***** ***** ***** 8.03 7.76 7.70 7.74 7.54 7.46 7.44 7.47 ***** ***** ***** ***** 7.69 7.62 7.61 7.64 7.52 7.55 7.69 8.27 ***** ***** ***** ***** 7.67 7.71 7.81 8.35 8.28 8.30 8.60 9.05 ***** ***** ***** ***** 8.50 8.39 8.60 9.06 8.95 8.84 8.76 8.81 ***** ***** ***** 8.90 9.04 8.94 8.89 8.96 8.80 8.74 8.79 8.76 8.89 8.85 8.88 8.87 8.97 8.95 8.95 8.96 8.71 8.71 8.74 8.79 8.83 8.82 8.84 8.89 8.92 8.91 8.93 8.97 8.85 8.90 9.12 9.40 8.91 9.00 9.21 9.50 9.00 9.07 9.30 9.61 10.14 10.46 10.82 11.67 10.25 10.54 10.91 11.73 10.20 10.47 10.83 11.41 19 7 7 - Q 1 . . . | -Q2...I -Q3...I -04...| I 1 1 9 78 -Q 1... | -Q2...I -Q3...I -Q4...I i 1 19 7 9 - Q I . . . | -02...| -Q3...I -Q4...I _______ L 7 8 LAND VALUE AND CREDIT CONDITIONS SURVEY, SEVENTH FEDERAL RESERVE DI ST RI CT — FEDERAL RESERVE BANK OF CHICAG O TABLE 325.1 TRENDS IN FARM REAL ESTATE VALUES AND LOAN VOLUME MARKET VALUE OF GOOD FA RMLAND 1 1 | PERCENTAGE CHANGE 1 PERCENTAGE OF BANKS EXPECTING | FROM PR EV IO US— | TREND DURING THE CURRENT QUARTER TO BE 1 YEAR | 1 QUARTER UP STABLE DOWN 1 1 *** j 1 9 58 -Q 2... 1 0. 9. 73. 18. *** | 5. 73. 22. - Q 3 -- | -1. *** | -QA...| 63. 3A . 2. 3. 1 *** j 19 5 9 - Q 1 . . . | 56. A3. 1. 1. *** j 56. 1. A3. -Q2 ... 1 0. *** j -03...| 2. 56. 1. A2 . *** | *** *** *** *** -QA...I DATE OF SURVEY | PERCENTAGE OF 3ANKS EX PECTING | FARM REAL ESTATE LOAN VOLUME | DURING THE CURRENT QUARTER, | AS COMPARED WITH VOLUME MADE | A YEAR EARLIER, TO BE — 1 LUWER S AM F | | | *** *** *** *** *** *** HIGHFR *** *** *** | j | | *** *** *** *** *** *** *** *** *** *** *** *** 19 6 0 - Q 1 ... I -Q 2...| -03...| -Q4..•| -3. 0. -1. -1. *** *** *** *** j j j | 20. 3A . 37. 38. 69. 60. 60. 57. 11. 6. 3. 5. | j | | *** *** *** *** *** *** *** *** ♦ ** ♦ ** * ** 19 6 l-QI ... I - Q 2 ... 1 -Q3...I - Q A ...| 1 1 9 6 2 - Q 1 ... I -Q2...I -03...| -QA...| 1 1963— Ql...| - Q 2...| -03...| -1. 0. 2. 2. -3. -3. -2. 2. | I | I A2 . 25. 15. 9. 55. 69. 75. 7A . A. 6. 10. 17. | | j | *** *** *** *** *** *** *** *** *** * ** *** * ** *** 1. *** 0. *** A. *** 1. | I j 1 *** 6. *** 10. *** 75. *** 81 . *** 19. *♦* 10. | | | j ♦** *** *** *** *** *** *** 1. 0. 2. 1. *♦* 1. 3. 3. j i I I A. 76. 71. 7 A. 59. 20. 2A . 23. 36. 1 | 1 | *** *** *** *** *** *** *♦* *** * ** *** * ** *** 1964-Q1...I -02...| -Q3...I 1. 1. 1. 2. 3. A. 3. A. I t I | 2. 1. 2. 1. 61. 58. 61 . 5A. 37. A 1. 37. A5. | | | | *** *** *♦* *** *** *** *** *** *** **♦ ♦ ** 1 9 6 5 - Q l .. . | - 0 2 . ..| -03 . . . | 1. 2. 1. 2. 5. 6. 5. 7. 1 | 1 1 1. 1. 0. 1. A5 . 39. A2 . 2A . 5A . 60. 58. 75. j j i | *** **« 2. ♦** *** *** 73. *** * ** *** 25. * ** 1 9 66 -Q l. . . | -Q2...I -03...| -QA...| 2. A. 1. 3. 8. 10. 9. 9. 1 | I | 0. 0. 1. 1. 26. 17. 28. 3A. 7A. 83. 71. 65. 1 | | 1 3. *** *** A. 67. *** ♦ ** 6A. 30. *** *** 33. 1967-Q1.. . | -Q2...I - Q 3 ... 1 -QA...| 2. 2. 1. 2. 8. 7. 5. 6. I I 1 t 1. 1. 1. 2. A2 . AA. 51. A5 . 57. 56. A8 . 53. | | 1 1 *** *** 3. 13. *** *** 76. 72. *** 1968-Q1...| - Q 2 ... 1 - 0 3 . ..| -QA...I | 1 9 6 9 - Q 1 .. . | - 0 2 -- I - 0 3 . ..| -QA...I | 1 9 7 0 - Q 1 ... 1 -02...1 -Q3...I -Q A ...| 2. 2. 0. 1. 6. 6. 6. 3. I I I I 8. 8. 6. 13. 59. 56. 58. 59. 33. 36. 35. 28. 1 J 1 I *** *** 27. 28. *** *** 63. 62 . *** * ** 1 1. 10. 2. 1. 2. 0. 5. 3. A. A. I I | | 8. 1A. 12. 20. 68. 62. 66. 66. 2A. 2A . 22. 1A. 1 | j I 12. *** *** AA. 81. *** *** 50. 7. **♦ *** 15. 0. 1. 0. 0. A. 1. -1. 0. | i 1 I 22. 21. 15. 17. 6A. 68. 78. 72. 1A. 11. 8. 11. 1 | 1 1 Al. «** 35. 31. 52. *** 60. 59. 8. *** 5. 10. 1. 1. 2. 1. 1. 2. 3. A. 1 I I | 1A. 6. 1. 3. 75. 80. 83. 81. 11. 1A. 16. 16. I 1 1 1 28. 17. 13. 9. 63. 68. 75. 76. 9. 15. 1 1. 15. 1. 1. 2. 3. A. A. 3. 6. | | I I 3. 1. 0. 1. 75. 65. 66. A7. 22. 3A. 3A. 52. i I 1 1 11 . 8. 10. 8. 72. 70. 72. 67 . 17. 23. 18. 25. 2. 6. A. 8. 7. 11. 13. 17. I 1 | | 1. 0. 1. 1. 52. AA. A3. A3. A7 . 56. 56. 56. 1 1 1 1 8. 7. 12. 17. 70. 61. 63. 62. 22. 32. 25. 2 1. 5. 12. 3. 8. 2 A. 3A. 29. 25. | | | | 2. 3. 8. 5. 52. 53. 67. 66. A6 . AA. 25. 29. 1 1 1 1 17. 11. 26. 35. 6<t. 62. 61. 5A . 19. 27. 13. 1 1. 3. 2. A. 9. 23. 1A. 15. 17. | | | | 9. 8. 6. 1. 77. 79. 81. 56. 1A. 13. 13. A3. 1 1 1 I 3A . 26. 23. 20. 56. 62. 68. 68. 9. 12. 9. 12. 7. 7. 6. 8. 22. 27. 30. 29. 1 | 1 1 3. 1. 1. 2. 68. 67. 58. 55. 29. 31. Al. A3. 1 1 1 1 15. 11 . 17. 15. 73. 71. 65. 67. 1 3. 1 8. 18. 19. 5. 8. A. -1. 28. 30. 30. 18. 1 j I | 2. 1. 9. 3A. 61. 51. 65. 56. 37. A8. 26. 10. 1 1 1 I 16. 12 . 18. 36. 6A . 65. 66. 56. 20. 23. 16. 8. 2. A. A. A. 13. 7. 8. 15. | 1 I | 16. 6. 3. 3. 7A . 71. 7A . 69. 10. 23. 23. 28. 1 1 1 1 31. 25. 25. 29. 61 . 63. 6A . 62. 8. 13. 10. 9. 3. 2. 3. 6. 17. 16. 13. 17. | | | | 2. 3. 2. 3. 70. 62. 65. 56. 28. 35. 33. Al. 1 35. 1 31. 1 29. 1 37. J_____ 58. 59. 62. 57. 7. 10. 9. 6. 19 71 - Q 1 . . . | -02...| -Q3...I -QA...| | 1972-Q1. .. | -Q2...| - Q 3 ... I -QA...| | 1973-Q1 .. . | - Q 2 ... I -Q3...I -QA...| | 19 7 A - Q 1 .. . | -Q 2...| -03...I -QA...I | 1975-Q1...| -Q2...I -Q3...I -QA...I 1 1 19 7 6 - Q 1 . . . | - Q 2 ...| -03...| -QA...I i 1 9 7 7 - Q 1 ...| -02...1 - Q 3 ... 1 -QA...| i 19 7 8 - Q 1 ... 1 -Q2. . . | - Q 3 ...| -QA...| i 1979-Q1...| -02... | -Q3...I -QA...I ________ L 5. 3. 5. *** *** ** * ** **♦ * *** 15. 15. AG RI CU LTU RAL FINANCE DATABOOK— QUARTERLY SERIES 330 OCTOBER 1979 MINNEAPOLIS 331.1 CURRENT FA RM LE NDING E X P E R I E N C E ........................................ 10 332.1 EXPECTED FARM LOAN DEMAND AND RE PAYMENT C O N D I T I O N S ................. 11 333.1 AVERAGE LO AN/DEPOSIT RATIO AND OTHER CONDITIONS THAT REFLECT CREDIT A V A I L A B I L I T Y .......................................................12 334.1 INTEREST RATES ON FARM L O A N S ............................................ 13 335.1 FARM REAL ESTATE LENDING E X P E R I E N C E ................................... 14 336.1 FARMERS' EARNINGS AND S P E N D I N G ..........................................15 THE FEDERAL RESERVE BANK OF MINNEAPOLIS INITIATED A QUARTERLY AG RI CU LT UR AL CREDIT CO ND IT IO NS SURVEY IN 1964. THE SURVEY PANEL AND QU ES TI ON NA IR E HAVE REMA IN ED LARGELY COMPAR AB LE OVER TIME. THUS AMONG THE RESERVE BANK SURVEYS, THIS SURVEY PROVIDES EX CE PTIONALLY LONG AND BROAD COVERAGE OF AG RI CU LT UR AL CREDIT CONDITIONS, AND IS ESPECIALLY VALUABLE IN THAT THE SERIES SPAN SEVERAL MONETARY AND FARM INCOME CYCLES. THE SURVEY PANEL IS CH OS EN FROM AMONG BANKERS ENGAGED IN FA RM LENDING TO PROVIDE A GEOGRAPHICAL AND BANK-SIZE CROSS SECTION OF THE BANKS IN THE NINTH FEDERAL RE SERVE DISTRICT. THE CORE OF THE PANEL CONSISTS OF MEMBERS OF THE UPPER MI DW ES T AG RI CU LT UR AL CR ED IT COUNCIL, AN ORGA NI ZA TI ON OF AGRICU LT UR AL REPR ES EN TA TI VE S AND LENDING OFFICERS OF NINTH DISTRICT BANKS. THE INITIAL SURVEY IN 1964 COVERED 75 BANKERS. OVER TIME, THE PANEL WAS ENLARGED; AS OF 1973, IT CO VERED 175 BANKS. THE RESPONSE RATE HAS TY PICALLY BEEN 90 PER CENT OR BETTER. SURVEY RE SU LT S ARE PRESENTED AND DI SCUSSED IN A QUARTERLY REPORT, AGRI CU LT UR AL CREDIT CONDIT IO NS S U R V E Y . W H IC H MAY BE OBTA IN ED FROM THE R E S E AR CH DEPARTMENT, FEDERAL RESERVE BANK OF MINNEAPOLIS, MINNEAPOLIS, MINNESOTA, 55480. 10 SURVEY OF CU RR EN T AGRICU LT UR AL CR ED IT CONDITIONS TABLE 331.1 NINTH FEDERAL RESERVE D I ST RI CT— FEDERAL RESERVE BANK OF MINNEAPOLIS CURRENT FARM LENDING EX PERIENCE PE RCENTAGE OF BANKS RE PORTING CURRENT EXPERIENCE CO MP AR ED WITH USUAL CO NDITIONS SHORT-TERM LOWER I SAME ._ HIGHER . I INTERMEDIATE -TERM LOWER SAME HIGHER 9. 7. 15. 16. 66. 76. 68. 71. 25. 17. 17. 13. j | | | *** *** *** *** *** *** *** *** *** *** *** *** *** *** 5. 9. *** *** 52. 53. 1 9 6 5 - Q 1 ... -Q2 ... - Q 3 . .. -Q4... 8. 7. 3. 17. 57. 60. 69. 78. 35. 33. 28. 5. j | | | *** *** *** ♦** *** *** *** *** *** *** *** *** 2. 2. 11. 21. 38. 43. 62. 63. 1 9 6 6 - Q 1 ... - Q 2 ... -Q3... - Q 4 . .. 9. 6. *** 10. 70. 78. *** 77. 21. 16. *** 13. j j | | *** *** *** *** *** *** *** *** *** *** *** *** 20. 15. *** 22. 50. 65. *** 68. 19 6 7 - Q 1 ... -Q2... - Q 3 ... - Q 4 . .. 8. 3. 3. 14. 77. 80. 65. 77. 15. 17. 32. 9. | | j 1 *** *** *** 7. *** *** *** 87. *** *** *** 6. 18. 6. 11. 16. 70. 79. 81. 71. 1 9 6 8 - Q 1 ... - Q 2 ... - Q 3 ... -Q4... 2. 3. 2. 4. 76. 76. 72. 87. 22. 21. 26. 9. 1 i 1 1 6. 8. 5. 7. 80. 76. 84. 85. 14. 16. 11. 8. 8. 2. 6. 17. 65. 65 . 70. 79. 1969-Q1... - Q 2 ... - Q 3 ... - Q 4 . .. 8. 10. 5. 10. 82. 72. 81. 76. 10. 18. 14. 14. 1 1 1 1 7. 11. 8. 10. 82. 76. 79. 80. 12. 13. 13. 10. 13. 9. 11. 14. 72 . 71. 76. 78. 1 9 7 0 - Q 1 ... - Q 2 ... — Q 3 ... -Q4... 6. 2. 3. 7. 76. 78. 66. 81. 18. 20. 31. 12. 1 1 1 1 7. 12. 14. 12. 85. 76. 69. 83. 9. 11. 17. 5. 14. 10. 10. 6. 67. 73. 77. 82. 19 7 1 - Q 1 ... - Q 2 ... - Q 3 ... -Q4. .. 8. 4. 4. 6. 74. 62. 74. 84. 18. 33. 22. 11. 1 1 1 1 15. 12. 5. 9. 79. 75. 87. 79. 6. 13. 8. 12. 6. 4. 3. 9. 58. 71. 85. 83. 1 9 7 2 - Q 1 ... - Q 2 ... - Q 3 ... -Q4... 6. 2. 2. 11. 79. 85. 84. 81. 15. 13. 13. 7. 1 i 1 1 5. 2. 5. 5. 85. 85. 85. 85. 10. 13. 10. 10. 10. 4. 5. 16. 74. 81. 87. 79. 19 7 3 - Q 1 ... - Q 2 ... - Q 3 ... ~ Q 4 . .. 17. 13. 8. 20. 72. 64. 72. 67. 12. 23. 20. 13. 1 1 1 1 7. 5. 5. 11. 85. 77. 81. 71. 9. 18. 14. 17. 30. 24. 19. 44. 66. 69. 77. 54. 1974— Q 1 ... -Q2... - Q 3 . .. - Q 4 ... 19. 25. 6. 12. 62. 54. 66. 65. 19. 21. 28. 24. 1 1 1 1 14. 14. 11. 16. 77. 74. 77. 72. 9. 12. 12. 12. 42. 40. 20. 17. 53. 50. 64. 59. 1 9 75 -Q 1... -Q2... - Q 3 ... -Q4. .. 15. 11. 9. 12. 55. 59. 56. 79. 30. 30. 35. 10. 1 1 1 1 23. 13. 17. 15. 67. 71. 68. 74. 10. 16. 15. 12. 7. 8. 7. 13. 49. 47. 52. 63. 197 6 - Q 1 ... - Q 2 ... — Q 3 ... -Q4... 7. 4. 8. 13. 64. 75. 61. 57. 30. 20. 31. 30. 1 1 I 1 12. 9. 20. 23. 73. 78. 70. 63. 15. 13. 9. 14. 4. 4. 5. 1. 58. 54. 61 . 51. 1977— Q 1 ... - Q 2 ... - Q 3 ... — Q 4 ... 9. 8. 3. 8. 55. 53. 60. 60. 37. 39. 37. 31. 1 1 i 1 25. 25. 20. 22. 50. 58. 66. 56. 25. 17. 14. 21. 1. 1. 2. 30. 34. 43. 38. 1978— Q l . •. - Q 2 ... - Q 3 ... -Q4... 6. 5. 69. 66. 72. 63. 26. 29. 28. 31. j 1 1 1 22. 13. 6. 7. 67. 73. 75. 72. 11. 14. 19. 22. 1. 2. 4. 10. 36. 50. 76. 73 . 70. 69. 54. 43. 28. 30. 42. 51. 1 1 | 1 9. 8. 6. 9. 76. 71. 67. 65. 15. 21. 27. 26. 13. 10. 11 . 5. 71. 76. 69. 58. 1 9 79 -Q 1... -Q2... - Q 3 ... -Q4... . 6. 3. 1 . 4. 6. WITH A YEAR EARLIER RE FI NA NC IN G LOWER.. SAME 19 6 4 - Q 1 ... -Q2. .. -Q3... -Q4. .. 1 PR OP OR TI ON OF FARM CU ST OM ER S LOANED UP TO THEIR PRACTICAL DEMAND FOR DEBT DEMAND FOR NON-RE AL -E ST AT E LOANS 1 . 1 1 HIGHER.. 1 1 *** 1 **♦ 1 43. 1 38. 1 1 60. 1 55. 1 27. 1 16. 1 1 1 30. 1 20. 1 *** 1 10. 1 1 1 12. 1 15. 1 8. 1 13. 1 1 27. 1 33. 1 24. 1 4. 1 1 1 15. 1 20. 1 13. 1 8. 1 1 1 19. 1 17. 1 13. 1 12. 1 1 1 36. 1 25. 1 12. 1 8. 1 1 1 15. 1 15. 1 8. 1 5. 1 1 1 4. 1 6. 1 5. 1 2. 1 1 5. 1 10. 1 16. 1 24. 1 1 45. 1 45. 1 41. 1 24. 1 1 1 38. 1 42. 1 34. 1 47. 1 1 1 69 . 1 64. 1 55. 1 61. 1 1 63. 1 48. 1 20. 1 17. 1 1 16. 1 14. 1 19. 1 37. 1 1 . SLOW USUAL RAPID .LOWER 28 . 23 . 34. 27. 62. 76. 66. 71. 10. 1. 0. 2. 12. 15. 15. 6. 58. 45. 43. 54. 29. 40. 42. 40. 53 46 26 11 . . . . 46. 52. 70. 75. 1. 2. 4. 14. 4. 7. 8. 25. 53. 53. 60. 63. 43. 40. 32. 12. 23 . 10 . *** 6. 67. 84. **♦ 80. 10. 6. *** 14. 20. 16. *** 16. 64. 70. *** 74. 16. 14. *** 10. 11 . 16. 10. 6. 74. 83. 89. 87. 15. 1. 1. 7. 18. 9. 6. 10. 76. 83. 81. 80. 6. 8. 13. 10. 26. 26. 0. 6. 73. 74. 83. 80. 1. 0. 17. 14. 7. 10. 2. 14. 68. 61. 66. 72. 25. 29. 32. 14. 12. 19 . 11 . 6. 84. 79. 87. 89. 4. 2. 2. 5. 15. 6. 2. 7. 73. 75. 82. 82. 12. 19. 16. 11. 11 . 14. 16. 16 . 82. 85. 82. 82. 7. 2. 1. 2. 10. 8. 3. 5. 75. 75. 71. 75. 16. 18. 26. 20. 38. 25. 19 . 9. 59. 75. 81. 87. 4. 0. 1. 3. 3. 3. 3. 6. 69. 69. 75. 81. 29. 28. 22. 13. 18 . 12 . 7. 2. 77. 86. 92. 86. 6. 2. 1. 12. 12. 9. 9. 17. 76. 79. 83. 79. 12. 12. 7. 4. 0. 2. 1. 3. 74. 76. 80. 56. 26. 23. 18. 40. 30. 36. 28. 43. 68. 61. 71. 56. 1. 3. 2. 1. 4. 6. 23 . 35. 61. 66. 71. 57. 36. 28. 6. 8. 44. 41. 19. 16. 55. 56. 57. 57. 1. 3. 23. 27. 52 . 50. 34. 21 . 40. 45. 65. 74. 8. 5. 1. 4. 10. 10. 6. 12. 51. 45. 56. 63. 38. 45. 37. 25. 31 42 35 60 68. 58. 63. 38. 1. 0. 2. 2. 9. 6. 3. 2. 61. 62. 61. 56. 31. 32. 36. 42. 75 . 75 . 62 . 74. 25. 25. 38 . 26. 0. 2. 0. 0. 1. 2. 44. 49. 45. 47. 55. 51. 55. 52. 61 55 28 28 . . . . 39. 45. 67. 67. 1. 0. 5. 4. 6. 7. 16. 23. 45. 61. 62. 62. 50. 31. 22. 15. 21 18 20 46 . . . . 71. 72. 77. 52. 8. 10. 3. 2. 30. 28. 18. 8. 61. 60. 56. 63. 8. 13. 26. 28. . . . . 1 . 1 . SAME HIGHER SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE 01 STRICT — FEDERA L RESERVE BANK OF MINNEAPOLIS TABLE 332.1 EXPECTED FARM LOAN DEMAND AND RE PAYMENT CO ND IT IO NS PERCENTAGE OF BANKS REPORTING EXPECTED DEMAND FOR FARM LOANS IN CURRENT QUARTER, COMPARED WITH USUAL CO NDITIONS SURVEY | .NON-REAL -E ST AT E LOANS 1 1. ._ l LOWER SAME HIGHER 1 19 6 4 - Q 1 . . . | 6. 73. 21. -Q2...I 5. 72. 23. -Q3. . . | 5. 73. 22. 4. 64. 32. DEBT EXTENSION OR RE FI NA NC IN G LOWER SAME HIGHER *** *** 4. 1. *** *♦* 66. 59. *** *** 30. 40. ADVERSE CHANGE 1 FARMERS' ABILITY 1 TO REPAY DEBTS II N THE NEAR FUTURE | 1 35. 1 52. 1 48. 1 47. 1 1 48. 1 32. 1 23. 1 22. 1 1 1 10. 1 7. 1 *** 1 5. 1 1 9. 1 21. 1 15. 1 30. 1 1965-Q1...I -Q2...I -Q3...I 2. 3. 9. 20. 49. 47. 74. 68. 49. 50. 17. 12. 1. 1. 14. 28. 44. 51. 69. 53. 54. 48. 17. 19. 19 6 6 - Q l . . . | -Q2...I -Q3...I 5. 4. *** 14. 72. 78. 72. 23. 18. *** 14. 14. 11. *** 26. 66. 76. *** 64. 20. 13. *♦* 10. 1967-Q1 • • • | -Q2...I -Q3...I -Q4...I 6. 3. 4. 13. 87. 76. 82. 73. 7. 21. 14. 14. 13. 3. 4. 13. 79. 81. 87. 74. 8. 16. 9. 13. 1968-Q1...| - Q 2 -- | -Q3...I 6. 6. 4. 7. 81. 74. 79. 80. 13. 20. 17. 13. 6. 0. 4. 12. 64. 70. 79. 71. 30. 30. 17. 17. 1 1 1 1 1 1 30. 35. 27. 28. 1969-Q1...I -Q2...I -Q3...I -Q4...I 6. 4. 8. 10. 82. 75. 75. 79. 12. 21. 17. 11. 11. 5. 7. 11. 75. 75. 82. 79. 14. 20. 11. 10. 1 1 14. 20. 21. 15. 19 7 0 - Q l • • • | -Q2...I -Q3...I -Q4...I 2. 5. 7. 8. 81. 73. 80. 79. 17. 23. 14. 13. 7. 6. 7. 8. 76. 78. 78. 71. 17. 15. 15. 20. 1 9 7 1 - Q 1 ...| -Q2...I - Q 3 -- 1 -Q4...I 5. 3. 2. 9. 76. 69. 88. 76. 19. 28. 11. 14. 3. 3. 3. 13. 7.1. 75. 86. 75. 26. 22. 10. 13. 1 9 72 -Q 1... 1 -Q2...I -Q3...I -Q4...I 3. 2. 4. 16. 85. 83. 88. 69. 12. 14. 7. 15. 7. 4. 7. 25. 77. 83. 87. 65. 16. 13. 6. 10. 1 9 73 -Q 1. • . | -Q2...I -Q3...I 22. 5. 5. 33. 70. 76. 81. 51. 8. 19. 14. 15. 27. 16. 15. 48. 69. 77. 80. 44. 4. 8. 5. 8. 36. 14. 9. 11. 59. 62. 63. 53. 6. 24. 28. 35. 46. 27. 6. 11. 50. 63. 66. 47. 4. 10. 28. 42. 20. 10. 7. 12. 51. 49. 70. 72. 29. 41. 23. 16. 17. 8. 4. 10. 38. 44. 71. 65. 45. 48. 25. 25. l l 4. 3. 9. 7. 70. 78. 65. 51. 27. 19. 26. 42. 1. 3. 5. 1. 62. 75. 55. 29. 36. 22. 40. 71. l l l l I 1 29. 34. 58. 70. 10. 7. 8. 3. 46. 46. 61. 56. 44. 46. 31. 41. 1. 1. 5. 0. 21. 39. 41. 34. 79. 60. 54. 66. l 73. 66. 60. 58. 7. 3. 4. 12. 59. 58. 69. 64. 34. 39. 27. 24. 2. 2. 10. 20. 47. 64. 76. 62. 51. 35. 14. 19. 3. 3. 3. 9. 77. 66. 63. 48. 20. 30. 34. 43. 10. 8. 8. 10. 76. 76. 73. 43. 14. 17. 19. 47. 1 I 1 1 1 9 74 -Q 1. . . | -Q2...1 -Q3...I -Q4...I ■ 1 9 7 5 - Q 1 ..•1 -Q2...I - Q 3 ---| -Q4...I | 1 9 76 -Q 1•••1 -Q2...I -Q3...I -Q4...I j 1 9 77 -Q 1.. .| - Q 2 -- | -Q3...I -Q4...I i 1978-Q1...| -Q2...I -Q3...I -Q4...I ■ 1 1 9 79 -Q 1.. . | -Q2...I -Q3...I -Q4...I ____________ L 1 1 1 1 1 1 1 1 1 1 a 1 l l 1 l i 1 l 1 l l 1 1 l l l l | 1 l l l l | 1 l l | 1 1 I l I 1 l l I l a 1 i i i i L 17. 15. 17. 19. 26. 21. 17. 19. 14. 8. 17. 5. 5. 3. 9. 6. 9. 24. 59. 56. 62. 63. 31. 20. 48. 33. 12. 20. 9. 15. 24. 34. 12 SURVEY OF CURRENT AG RI CU LT UR AL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DI ST RI CT — FEDERAL RESERVE BANK OF MINNEAPOLIS TABLE 333.1 AVERAGE LO AN /D EP OS IT RATIO, AND PERCENTAGE OF BANKS REPORTING OTHER C O ND IT IO NS THAT REFLECT RE LATIVE CREDIT AVAILABILITY 1964-Q1... -Q2... -Q3. .. -Q4... ******* ******* ******* 1 9 6 5 - Q 1 ... -32... -Q3. .. -Q4... ******* ******* ******* ******* 1966-Q1... -Q2... -Q3... -Q4... ******* ******* ******* ******* 1967-Q1... -G2... -Q3... -Q4... ******* ******* ******* ******* 1 9 6 8 - Q 1 ... -Q2... -Q3. .. -Q4... ******* ******* ******* ******* 1969-Q1... -Q2... -Q3... -Q4. .. 52. 56. 58. 59. 1970-Q1... -Q2... -33... -Q4 . . . 56. 58. 61. 59. 1 9 7 I - Q 1 . .. - Q 2 ■ .• -33... -34... 58. 59. 61. 60. 1972-31... -32... -33... -34... 58. 58. 60. 59. 1973-31... -32... -33... -34... 58. 58. 61. 61. 1974-31... -32... -33... -34... 61. 63. 63. 65. 1975-31... -32... -33... -34... 64. 63. 63. 63. 1976-31... -32... -33... -34... 63. 63. 65. 66. 1977-31... -32... -33... -34... 64. 63. 66. 68. 1978-31... -32... -33... -34... 67. 67. 70. 71. 1979-31... -32... -33... -34... 70. 71. 73. 79. ******* IEXPECT PROBLEMS REFUSED OR | 1 IN MEETING I LO AN/DEPOSIT RATIO IS— I REDUCED A |ACT IVELY| F A RM LOAN | SEEKING I NORMAL FARM 1 REGUEST IN | NEW | LOAN REQUESTS j I IN CURRENT HIGHER | PREVIOUS | FARM I LOWER |QUARTER DUE TO THAN IQUARTER DUE | LOAN | THAN DESIRABLE DESIREDI TO SHORTAGE!ACCOUNTSI AV AI LA BI LI TY IDESIRED 1 OF FUNDS 1 OF FUNDS 1 1 | *** *** ♦ ** | 5. 81. 5. | *** *** *** | 6. 6. 76. *** | *** *** | 8. 68. 8. 3. 4. 70. 56. 21. I 1 23. | NUMBER OF FARM L CAN REQUESTS REFERRED TO— 1 | CORRESPONDENT BANKS NONBANK AGENCIES 1 1 1 COMP AR ED WITH 1I C O M P AR ED WITH |N ONE| USUAL NUMBER NONE |1 USUAL NUMBER j | 11 ... . 1 1L QW ER SAME HIGHER SAME HIGHER 1 *** | *** *** *** *** *** *♦* *** *** 71. 15. 14. 13. 12. 75. 1 *** *** | *** 68. 9. 8. 82. 23. 10. *** 73. 7. 20. 14. 81. 5. 1 *** 1- DATE OF SURVEY AVERAGE LO AN/DEPOSIT RATIO (PER CENT! 18. 20. 18. 16. 59. 65. 60. 62. 22. 15. 22. 22. I | | 1 5. 4. 3. 2. 1 | 1 | *** *** *** *** 16. 10. 7. 15. 83. 83. 85. 80. 1. 7. 8. 5. ♦** *** *** 7. 6. 7. 7. 72. 66. 81. 85. 20. 28. 12. 8. 17. 20. *** 14. 70. 61. *** 69. 13. 19. *** 17. 3. 3. 72. I 6. | 10. 73. |* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * 13. | 13. 56. | | | 1 *** *** *** *♦* 10. 5. *** 11. 83. 90. *** 82. 7. 5. *** 7. *** *** *** *** 11. 6. *** 9. 79. 84. *** 87. 10. 10. *** 4. 16. 20. 17. 19. 67. 60. 63. 63. 17. 20. 20. 18. | I | I 11. 14. 26. 5. 61. 64. 62 . 73. 6. 8. 7. 1. ! i i i *** *** *** *** 6. 9. 5. 3. 91. 83. 84. 91. 3. 8. 11. 6. *** *** *** **♦ 9. 3. 5. 10. 86. 86. 92. 88. 5. 11. 3. 2. 22. 22. 11* 23. 65. 58. 62. 64. 13. 20. 27. 13. | | | I 5. 5. 17. 6. 95. 65. 55. 66. 4. 4. 10. 2. ! i i i *** *** *** **♦ 13. 17. 5. 10. 82. 76. 88. 84. 5. 7. 7. 6. *** *♦* *** 6. 3. 4. 9. 83. 88. 89. 88. 11. 9. 7. 3. 33. 26. 16. 13. 60. 59. 64. 64. 7. 15. 20. 23. I I | | 4. 8. 18. 15. 77. 70. 52. 45. 1. 7. 11. 9. ! 1 1 1 *** 43. 32. 37. 16. 4. 4. 6. 79. 47. 61. 53. 5. 6. 3. 4. *** 24. 21. 28. 11. 4. 2. 3. 83. 61. 71. 59. 6. 11. 6. 10. 18. 15. 5. 8. 62. 53. 48. 61. 20. 33. 47. 31. | 1 | 1 18. 23. 32. 22. 47. 38. 32. 35. 10. 18. 19. 7. 37. 38. 43. 43. 4. 5. 2. 3. 55. 50. 47. 46. 3. 7. 8. 8. 23. 24. 20. 30. 2. 1. 1. 3. 64. 65. 66. 58. 11. 11. 12. 10. 13. 16. 11. 17. 62. 60. 65. 67. 24. 24. 23. 16. | | | | 14. 9. 9. 6. 48. 56. 57. 63. 6. 5. 5. 4. 42. 44. 43. 47. 2. 3. 1. 6. 52. 45. 52. 45. 5. 8. 4. 3. 22. 20. 28. 30. 2. 1. 1. 2. 61. 66. 62. 65. 16. 14. 9. 3. 28. 28. 17. 23. 60. 60. 71. 71. 13. 12. 13. 6. 1 | | 1 4. 5. 2. 2. 67. 69. 68. 72. 2. 5. 2. 3. 49. 51. 50. 52. 2. 3. 1. 4. 42. 42. 43. 41. 6. 5. 6. 2. 29. 30. 34. 37. 1. 1. 1. 4. 66. 61. 62. 58. 5. 8. 3. 2. 32. 36. 26. 29. 62. 58. 58. 56. 6. 7. 15. 15. | 1 | | 2. 5. 5. 9. 75. 78. 71. 62. 2. 2. 4. 8. 47. 47. 42. 45. 2. 3. 2. 5. 44. 44. 49. 45. 7. 7. 7. 6. 35. 36. 34. 37. 5. 5. 2. 4. 58. 58. 61. 54. 2. 2. 3. 5. I 1 1 1 i | 1 i I 1 1 1 | 1 20. 29. 13. 7. 65. 59. 60. 54. 15. 11. 27. 39. ! 1 | | 6. 4. 18. 35. 69. 76. 46. 27. 5. 4. 20. 30. 51. 44. 38. 41. 2. 6. 5. 6. 43. 46. 48. 47. 5. 4. 9. 7. 45. 39. 28. 32. 3. 4. 3. 1. 49. 56. 64. 48. 3. 2. 6. 19. 10. 11. 6. 18. 56. 70. 74. 64. 34. 19. 21. 18. | | I I 27. 13. 11. 8. 30. 43. 51 . 61. 14. 14. 4. 4. i | 1 1 1 1 1 | 1 1 1 ! 1 I 1 i 1 1 1 ] 1 1 I i 1 1 I 1 i 1 1 1 1 1 40. 47. 47. 43. 6. 6. 3. 6. 46. 40. 44. 49. 8. 6. 6. 2. 24. 31. 32. 35. 1. 2. 2. 2. 51. 40. 54. 54. 24. 27. 11. 9. 17. 17. 12. 19. 67. 67. 62. 55. 16. 16. 26. 26. | | | i 5. 7. 9. 10. 62. 63. 54. 55. 4. 3. 10. i2. 42. 38. 42. 38. 4. 3. 1. 4. 49. 54. 46. 49. 6. 5. 10. 8. 28. 26. 30. 27. 3. 1. 0. 2. 53. 60. 58. 57. 16. 13. 12. 14. 1 1 I 1 i 1 1 i 1 ■ 1 1 1 t 1 17. 20. 16. 12. 64. 61. 55. 53. 18. 20. 29. 35. I | | | 10. 7. 12. 11. 54. 56. 58. 58. 6. 7. 7. 8. ! I 1 1 1 1 1 I i i 40. 45. 37. 37. 3. 2. 1. 0. 50. 44. 49. 54. 6. 9. 13. 8. 22. 23. 23. 22. 1. 0. 0. 1. 50. 44. 48. 52. 27. 33. 28. 25. 15. 12. 8. 6. 51. 58. 54. 48. 34. 31. 38. 46. | I I | 10. 12. 14. 19. 61. 66. 54. 49. 7. 9. 17. 19. 38. 43. 39. 37. 4. 2. 2. 2. 51. 49. 52. 50. 7. 7. 7. 10. 19. 23. 26. 21. 0. 2. 0. 2. 50. 48. 58. 63. 31. 26. 16. 15. 3. 3. 2. 1. 50. 51. 40. 40. 47. 46. 58. 58. I | | | 19. 27. 32. 40. 45 . 42. 34. 27. 13. 23. 26. 34. ! 1 1 1 1 1 I 1 1 37. 28. 34. 34. 0. 2. 0. 1. 55. 59. 49. 46. 8. 12. 17. 19. 23. 20. 23. 25. 2. 2. 62. 64. 60. 54. 13. 14. 17. 19. I I I | 1 1 I | 1 1 I I 1 1 1 | I 1 1 1 I I I 1 I 1 1 1 i 1 1 I 1 1 | 1 1 1 1 I I | I _1 _ 6. 4. 7. 3. 72. 67. 71. 76. 1. 1. SURVEY OF CURRENT AGRICULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DI ST RI CT — FE DERAL RESERVE BANK OF MINNEAPOLIS TABLE 334.1 INTEREST RATES ON FARM LOANS MOST CO MM ON INTEREST RATES CHARGED ON FARM LOANS (AVERAGE, PER CENT) DATE OF SURVEY NON-REAL-ESTATE LOANS 1 JL 1 1964— Q 1 ... | -Q2 . . . I -Q3...I S H OR T TERM ***** ***** ***** ***** INT ERMEDIAT E- LO NG -T ER M REAL ESTATE LOANS TFRM ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** TREND IN INTEREST RATES SHORT-TERM NO N- RE AL-ESTATE LOANS 1 DOWN1 WARD 1 1 6. ! 1. 1 2. 1 3. I 1 1965-Q1. . . | -Q2. . . 1 -Q3. . . | -Q4 . . . | ***** ***** ***** ***** ***** 19 6 6 - Q 1 .. . | -Q2...I -Q3. ..| - Q 4 ... 1 ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** 19 6 7 - Q 1 . . . | - Q 2 ... I - Q 3 ... I -Q4. . . | ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** 1968-Q1...| -Q2...I -Q3...I -Q4...I ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** ***** 1969-Q1...| -Q2...I -Q 3...| 7.36 7.62 7.90 8.02 7.40 7.66 8.00 8.07 7.15 7.44 7.83 8.00 1 9 70 -Q l. . . | - Q 2 •.•) - Q 3 . ..! -Q4...I j 1971-Q1...| -Q 2...| -Q3...I -Q4...I i i 197 2 - Q 1 . . . | -Q2...I -Q3...I -Q 4.•.j t 1 9 7 3 - Q I ... 1 - Q 2 . ..1 -Q3...I -Q4...I 8.09 8.38 8.38 8.42 8.19 8.50 8.49 8.56 8.15 8.42 8.46 8.45 8.37 8.19 8.16 8.16 8.45 8.28 8.27 8.23 8.35 8.06 8.00 8.06 8.09 8.02 8.03 8.02 8.23 8.13 8.13 8. 15 7.96 7.87 7.90 7.91 8.06 8.08 8.18 8.55 8.20 8.20 8.26 8.67 7.92 7.95 8.05 8.43 8.56 8.53 8.82 9.04 8.74 8.65 9.05 9.33 8.45 8.43 8.70 8.91 9.11 9.03 9.00 8.99 9.35 9.25 9.23 9.27 9.00 8.86 8.88 8.98 9.05 9.09 9.15 9.18 9.27 9.30 9.45 9.43 9.07 9.08 9. 17 9.17 9.15 9.21 9.17 9.18 9.43 9.45 9.53 9.52 9.15 9.17 9.22 9.20 9.38 9.51 9.47 9.50 9.71 9.81 9.2 1 10.24 10.39 10.78 11.80 10.67 10.82 11.21 12.14 10.06 1 9 74 -Q 1. . . | - Q 2 ... 1 - Q 3 ... 1 -Q4...I 1 1975-Q1.•.| -Q2...I -Q3...I -Q4...| I 1 1976-Q1...! - Q 2 ... | -Q3...I -Q4...I i ! 1977-QI...| -Q2...I - Q 3...| -Q4...I I 1 9 7 8 - Q i . ..| -Q 2...| -03...1 -Q4...I i 1 1979-Q1...j -Q2...i - 0 3 . ..| -Q4...i ***** 9 .21 9 .22 9.23 9.47 9.62 1 0.24 10. 55 12.27 1 1. | 0. 1 1 1 1 1 J 1 1 1 1 1 1 i 1 1 1 I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 | 1 1 1. 1. LITTLE CHANGE UP WARD. 84. 84. 86. 92. 15. 12. 5. 87. 91. 87. 84. (PERCENTAGE OF BANKS REPORTING) REAL ESTATE LOANS IN TERMEDIATE-TERM LOANS j DOWNi WARD UPWARD DOWN- 2. 0. 3. 3. 1. 88. 86. *** *** 85. 94. 12. 11. 12. 5. *** *** *** *** *** *** *** *** 0. 0. *** 1. 66. 26. *** 9. 34. 74. *** 90. *** *** *** *** 6. *** *** *** *** *** *** 15 . J j ! j *** *** *** *** j j | j *** *** ** * *** 12. 9. 12. | UP13. 10. 10. 9. *** *** *** *** | LITTLF 81. 87. 89. 89. *** *** *** ** * 10. | j LITTLE CHANGE 3. 1. o. o. *** o. 22. *** 17. 32 . 78. *** 83. o. 2. 5. 1. 26. 58. 77. 75. 74. 40. 18. 24. | j | | *** *** *** **♦ *** *** *** *** *** *** *** *** 2. 6. 5. 1. 18. 51. 76. 66. 80. 43. 19. 33. o. o. o. 1. 39. 43. 16. 54. 61. 57. 84. 45. j j j j *** *** *** ** * *** *** *** *** *** *** *** *** 1. 0. 0. 0. 19. 24. 13. 47. 80. 76. 87. 53. 1. o. o. o. 55. 12. 44. 8. 26. 92. 74. | | j 1 *** *** *** *** *** *** *** *** *** *** *** *** 0. 0. 0. 0. 53. 8. 9. 26. 47. 92. 91. 74. o. o. 1. 1. 39. 32. 61. 81. 39. 18. | j j | *** *** *** *** *** *** *** *** *** *** ♦ ** *** 1. 2. 1. 2. 34. 39. 56. 75. 65. 59. 43. 23. 14. 46. 17. 8. 82. 53. 79. 92. 4. 1. 4. 0. j | j j *** *** *** *** *** *** *** *** *** *** *** *** 10. 44. 21. 7. 82. 53. 74. 89. 8. 3. 5. 4. 1 | 1 i i 1 1 1 1 1 1 1 I 1 i 1 1 1 1 1 1 1 1 1 1 1 1 1 30. 26. 15. 4. 70. 74. 83. 89. 0. 0. 2. 8. j | | j *** *** *** *** *** *** *** *** *** *** *** *** 17. 29. 18. 4. 81 70. 79. 92. i* 1. 3. 4. 4. o. 1. o. 87. 76. 60. 28. 9. 24. 39. 72. j | j j *** *** *** *** *** *** *** *** *** *** *** *** 4. 0. 1. 0. 91. 83. 70. 28. 5. 18. 30. 72. o. 1. o. o. 58. 81. 41. 37. 42. 18. 59. 63. | | j | *** *** *** *** *** *** *** *** *** *** *** *** 1. 1. 0. 0. 60. 85. 53. 41. 39. 14. 47. 59. 2. 15. 17. 2. 64. 71. 71. 82. 34. 15. 11. 16. j j | j *** ** * *** *** *** *** *** *** *** *** *** *** 1. 11. 8. 1. 74. 81. 85. 82. 25. 8. 7. 16. 4. 11 . 4. 86. 78. 69. 10. 11. 28. | | | 3. 88. 10 . j *** *** ** * *** *** *** *** *** *** *** *** *** 2. 4. 3. 3. 90. 85. 77. 89. 8. 10. 20. 8. 1 | 1 1 1 1 1 1 1 1 1 1 1 14. 12. 5. 1. 80. 82. 88. 87. 6. 6. 7. 12. | j 1 1 *** *** *** *** *** *** *** *** *** *** *** *** 13. 11. 4. 1. 84. 85. 90. 94. 2. 4. 6. 5. 2. o. o. o. 76. 55. 32. 20. 22. 45. 68. *** *** *** *** *** *** *** *** *** *** *** *** 5. 80. i j j j 0. 0. 0. 83. 72. 45. 35. 12. 28. 55. 65. o. 3. 16. 12. 97. 84. 88. 98. j j j i *** *** *** *** *** *** *** *** *** *** *** *** 18. 31. 30. 23. 82. 68. 70. 75. i 1 o. o. o. 68. 2. 88. 61. 68. 0. 1. 0. 1. 14 SURVEY OF CURRENT AG RI CULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE DI ST RI CT — FEDERAL RESERVE BANK OF MINNEAPOLIS TABLE 335.1 FARM REAL ESTATE LENDING EXPERIENCE PERCENTAGE OF BANKS REPORTING DEMAND FOR FARM REAL ESTATE LOANS, AS COMPARED WITH USUAL CONDITIONS DATE OF SURVEY _______________ J— EXPECTED DURING THE CURRENT QUARTER CURRENT (DATE OF SURVEY) LQ JtfEB____ S A M £ _ _ i± L £ tl£ & ___ 1 9 64 -Q 1 . . . -Q2. . . ~Q3. . . -Q4.. . *** *** *** 12. 15. 27. 50. 55. 47. 38. 30. 26. 1 1 1 1 11. 7. 7. 12. 68. 74. 69. 64. 21. 19. 24. 24. 1965-QI . . . -Q2 . . . -Q3.. . -Q4... 8. 5. 9. 11. 54. 50. 70. 65. 38. 45. 21. 24. 1 1 1 1 6. 3. 9. 6. 65. 60. 77. 77. 29. 37. 14. 17. 71. 24. 16. I 9 66 -Q I . . . -Q2... ~Q3. . . -Q4.. . 8. 5. 66. 64. 26. 31. i 1 *** *** *** | *** 81 . *** 17. 62. 21. 1 12. 73. 15. I967-Q1... ~Q2. . . -Q3... -Q4... 38. 24. 23. 24. 53. 62. 69. 64. 9. 14. 8. 12. 1 1 I 1 27. 15. 16. 15. 68. 77. 79. 82. 5. 8. 5. 3. 1968-Q1... -Q2. . . -Q3... -Q4. . . 18. 10. 23. 27. 68. 65. 65. 63. 14. 25. 12. 10. 1 1 1 1 17. 10. 23. 21. 71. 75. 72. 71. 12. 15. 5. 8. 1969-Q1. . . -Q2 . . . -Q3... -Q4... 24. 32. 38. 10. 71. 58. 56. 80. 5. 10. 6. 10. 1 I I 1 22. 28. 38. 41. 74. 67. 58. 53. 4. 5. 4. 6. 19 7 0 - Q 1 . . . -Q2. . . - Q 3 . •. -Q4... 47. 49. 40. 46. 47. 39. 49. 48. 6. 12. 11. 6. 1 I 1 | 38. 41. 35. 33. 56. 53. 61 . 63. 7. 5. 4. 4. 1971-Q1. . . -Q2. . . -Q3. . . -Q4... 35. 30. 14. 18. 59. 60. 77. 73. 6. 9. 10. 8. I 1 1 1 25. 17. 13. 15. 69. 75. 80. 77. 6. 8. 7. 8. 19 7 2 - Q 1 . . . -Q2... -Q3. . . -Q4. . . 12. 8. 12. 10. 81. 78. 76. 80. 6. 14. 12. 10. i i ! i 11. 4. 9. 10. 85. 88. 86. 84. 4. 8. 5. 6. 1973-Q1. . . ~Q2. . . -Q3... -Q4. . . 10. 4. 7. 13. 80. 77. 80. 74. 10. 19. 14. 13. 1 I 1 1 8. 6. 7. 15. 86. 83. 87. 74. 6. 11. 7. 11. 1974— Q 1 . . . -Q2. . . ~Q3. . . -Q4... 20. 13. 24. 25. 74. 69. 66. 65. 7. 18. 10, 10. I ! i 1 2 1. 14. 18. 24. 76. 76. 77. 67. 10. 5. 10. 19 7 5 - Q 1 . . . ~Q2. . . —Q3. . . - Q 4 . •. 26. 27. 23. 17. 58. 55. 64. 73. 16. 18. 14. 10. I I I 1 25. 20. 17. 15. 59. 63. 74. 74. 16. 18. 9. 11. 1976-Q1 . . . -Q2. . . -Q3.. . -Q4... 22. 10. 18. 15. 67. 71. 66. 70. 11. 19. 15. 15. 1 1 1 1 13. 7. 14. 14. 75. 81. 72. 68. 12. 12. 14. 18. 1977— Q 1 . . . -Q2.. . ”Q3. . . -Q4. . . 16. 14. 19. 15. 65. 55. 56. 62. 19. 31. 25. 23. 1 1 1 1 13. 14. 17. 13. 60. 56. 60. 66. 26. 30. 23. 21. 1978-Q1. . . -Q2. . . -Q3. . . — Q4.•. 20. 19. 10. 13. 56. 63. 71. 73. 24. 18. 19. 14. 1 1 I I 16. 17. 11. 10. 58. 72. 77. 78. 26. 12. 12. 12. 197 9 - Q 1 . . . -Q2. . . -Q3. . . -Q4... 19. 15. 15. 20. 69. 82. 76. 72. 12. 3. 9. 7. 1 1 i 1 18. 13. 11. 19. 74. 78. 83. 72. 8. 8. 6. 9. 5. 3. *** 3. SURVEY OF CU RR EN T AG RI CULTURAL CREDIT CONDITIONS, NINTH FEDERAL RESERVE D I ST RI CT— FEDERAL RESERVE BANK OF MINNEAPOLIS TABLE 336.1 FARMERS' EARNINGS AND SPENDING, COMP AR ED WITH PREVIOUS YEAR PERCENTAGE OF BANKS REPORTING EARNINGS OF BANKS' FARM CUSTOMERS SURVEY | CURRENT (DATE OF SURVEY) 1 . .LOWER 1 54. 1 9 6 4 - Q 1 . ..1 66. -Q2...I -Q3...I 76. -Q4...I 66. SAME HIGHER SPENDING BY FARMERS FOR ALL ITEMS EXPECTED IN CURRENT QUARTER CURRENT LOWER SAME LOWER ... HIGHER (DATE OF SURVEY) SAME HIGHER..... EXPECTED IN CU RR EN T QUARTER LOWER . SAME HIGHER 16. 16. 23. 21. 30. 18. 1. 13. 45. 58. 63. 65. 42. 38. 33. 25. 13. 4. 4. 10. *** 27. 42. 37. *** 59. 49. 50. *** 14. 8. 13. *** 32. 44. 50. *** 56. 43. 37. *** 12. 13. 13. 1 9 65 -Q 1... 1 -Q2...I -Q3...I 74. 59. 18. 15. 21. 29. 27. 14. 5. 12. 55. 71. 52. 35. 7. 13. 40. 48. 33. 16. 8. 17. 60. 71. 44. 50. 24. 11. 46. 40. 52. 50. 10. 10. 24. 39. 47. 44. 13. 13. 43. 46. 56. 40. 10. 10. 31. 47. 1 9 66 -Q l. . . | 17. 7. **♦ 7. 16. 16. *** 18. 67. 77. ♦** 75. 10. 2. *** 1. 26. 26. *** 23. 64. 72. *** 76. 13. 7. *** 3. 47. 59. *** 60. 40. 34. *** 37. 13. 2. *** 10. 48. 57. *** 42. 39. 41. *** 48. 1 9 6 7 - Q l ... 1 -Q2...I -Q3...I 14. 41. 32. 29. 17. 36. 53. 34. 69. 23. 14. 37. 12. 39. 16. 43. 51. 49. 54. 43. 37. 12. 30. 14. 8. 22. 14. 17. 56. 56. 62. 59. 36. 22. 24. 24. 8. 19. 12. 15. 64. 58. 61. 65. 28. 23. 27. 20. 1 9 6 8 - Q l ...| -Q2...| -Q3...I -Q4...I 55. 46. 28. 29. 29. 41. 53. 39. 16. 13. 19. 32. 41. 26. 26. 26. 54. 64. 55. 46. 5. 10. 19. 28. 22. 30. 12. 16. 59. 55. 68. 65. 19. 15. 20. 19. 26. 27. 13. 18. 63. 56. 71. 62. 11. 17. 16. 20. 1 9 69 -Q 1... 1 -Q2...I -Q3...I 16. 17. 12. 13. 45. 44. 30. 34. 39. 39. 58. 53. 12. 11. 14. 11. 69. 60. 39. 45. 19. 29. 47. 44. 12. 16. 14. 18. 67. 63. 66. 64. 21. 21. 20. 18. 6. 11. 18. 17. 76. 65. 58. 62. 18. 24. 24. 21. 1970-Q1•*•| -Q2...I -Q3...I -Q4...I i 19 71 - Q 1 .. . | - Q 2 ...| -Q3...I -Q4...I I 1972-Q1...| -Q2...I -Q3...I 8. 5. 15. 35. 32. 34. 64. 48. 60. 60. 21. 18. 7. 9. 15. 27. 59. 56. 60. 56. 35. 35. 25. 16. 13. 23. 19. 27. 67. 63. 58. 64. 20. 15. 23. 9. 16. 18. 17. 28. 64. 66. 66. 61. 19. 15. 18. 11. 52. 33. 15. 13. 33. 55. 70. 50. 15. 13. 15. 38. 51. 24. 4. '16 . 42. 66. 62. 45. 8. 10. 33. 39. 36. 28. 11. 10. 54. 58. 65. 7 0. 10. 14. 24. 19. 42. 23. 7. 9. 51. 58. 70. 67. 8. 19. 23. 23. 17. 9. 4. 1. 39. 42. 41. 21. 45. 50. 54. 79. 9. 5. 4. 1. 61. 63. 49. 24. 30. 32. 47. 75. 10. 6. 8. 4. 69. 75. 74. 69. 22. 19. 18. 27. 12. 8. 6. 1. 72. 74. 75. 60. 16. 18. 19'. 38. .2. 1. 1. 0. 12. 6. 20. 3. 86. 94. 79. 97. 0. 1. 2. 2. 21. 16. 26. 5. 79. 83. 72. 93. 1. 0. 1. 0. 52. 39. 46. 31. 47. 61. 53. 69. 2. 0. 1. 1. 53. 43. 48. 23. 45. 58. 51. 76. 1. 11. 59. 62. 7. 19. 21. 20. 93. 70. 20. 17. 3. 25. 66. 68. 18. 36. 24. 19. 78. 39. 10. 13. 2. 2. 11. 27. 24. 31. 38. 42. 74. 66. 51. 31. 3. 4. 19. 38. 33. 26. 36. 31. 64. 69. 45. 31. 67. 81. 56. 19. 24. 16. 34. 52. 9. 3. 10. 29. 70. 78. 52. 20. 21. 19. 33. 50. 10. 3. 15. 30. 42. 55. 31. 20. 35. 28. 37. 57. 23. 17. 31. 23. 50. 52. 29. 18. 28. 26. 40. 56. 22. 22. 31. 26. 47. 41. 51. 80. 34. 48. 37. 13. 19. 11. 12. 7. 43. 31. 55. 79. 38. 60. 31. 15. 19. 10. 14. 7. 25. 25. 41. 51. 60. 59. 43. 37. 15. 16. 15. 12. 29. 24. 48. 63. 58. 59. 39. 29. 13. 17. 12. 8. 86. 78. 67. 56. 11. 20. 27. 26. 3. 1. 5. 18. 78. 61. 54. 48. 17. 35. 24. 28. 6. 4. 22. 24. 73. 68. 45. 46. 20. 27. 41. 40. 7. 5. 14. 15. 75. 63. 44. 50. 16. 31. 44. 35. 10. 7. 13. 15. 46. 36. 5. 6. 28. 28. 25. 26. 26. 36. 70. 68. 41. 21. 4. 8. 36. 38. 22. 25. 23. 40. 75. 67. 51. 36. 2. 7. 39. 48. 56. 55. 10. 16. 42. 38. 55. 31. 2. 7. 32. 48. 53. 50. 13. 21. 45. 42. 3. 3. 6. 17. 14. 19. 26. 40. 83. 78. 69. 43. 1. 3. 6. 19. 29. 31. 34. 40. 71. 66. 60. 42. 6. 9. 5. 12. 50. 46. 43. 47. 45. 45. 52. 41. 5. 5. 5. 15. 52. 47. 41. 40. 43. 48. 54. 45. - Q 3 -- | i 1 1973-Q1...| -Q2...I -Q3...I - Q 4 ... 1 I 1 9 74 -Q 1.. .| -Q2...J -Q3...I -Q4...I 1 9 7 5 - Q 1 ... 1 - Q 2 ... 1 -Q3...I -Q4...I i 1 1 9 76 -Q 1• ■ . i - Q 2 ... 1 -Q3...I -Q4...I 19 7 7 - Q 1 . . . | -Q2...I -Q3...I -Q4...I I 1 9 7 8 - Q 1 . ..1 -Q2...I -Q3...I -Q4...I • 1 1979— Q 1 ... I -Q2...I - Q 3 ...1 -Q4...I ____________ I___ 16 AGRICU LT UR AL FINANCE DATA BO OK— QU ARTERLY SERIES 340 OCTOBER 1979 KANSAS CITY 341.1 CURRENT FARM NON-R EAL-ES T AT E LE ND IN G E X P E R I E N C E .....................17 343.1 AVERAGE LOAN/DEPOSIT RATIO AND OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT A V A I L A B I L I T Y ........................................... 17 344.1 MOST COMMON INTEREST RATES CHARGED ON FARM L O A N S ................... 18 345.1 FARM REAL ESTATE V A L U E S ..................................................18 THE FEDERAL RESERVE BANK OF KA NSAS CITY IMPLEMENTED A QUARTERLY AG RI CU LT UR AL CR ED IT CO ND IT IO NS SURVEY ON JA NU AR Y 1, 1976. AN INITIAL SAMPLE OF 196 BANKS WAS SELECTED PR IMARILY FROM AMONG THE 902 BANKS IN THE TENTH FEDERAL RESERVE DISTRICT AT WHICH FARM LOANS COMP RI SE D 50 PER CENT OR MORE OF TOTAL LOANS. THE SAMPLING PROCEDURE RESU LT ED IN R E PR ES EN TA TI ON OF ALL GEOG RA PH IC REGIONS AND FARMING AREAS IN THE DISTRICT. AS OF APRIL 1977, THE SAMPLE CO NS IS TE D OF 188 BANKS. VIRTUALLY ALL SU RV EY ED BANKS R E SP ON D EACH QUARTER. FOLLOW-UP CALLS TO RE SP ON DE NT S ARE MADE TO HE LP ASSURE A HI GH RESPONSE RATE. AN EXTENSIVE DI SC US SI ON OF SURVEY RESULTS IS PU BLISHED QUARTERLY IN THE F I NANCIAL LE T T E R . WHICH MAY BE OB TAINED FROM THE RESEARCH DIVISION, FEDERAL RE SE RV E BANK OF KA NS AS CITY, KA NS AS CITY, MISSOURI, 64198. QU ARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, TENT H FEDERAL RE SERVE D I ST RI CT— FEDERAL RESERVE BANK OF KANSAS CITY TABLE 341.1 CURRENT FARM NO N- RE AL -E ST AT E LENDING EXPERIENCE, COMP AR ED WI TH A YEAR EARLIER PERCENTAGE OF BANKS REPORTING DATE OF SURVEY 1 | | 1 1976— Q l . . . | -Q2...I -Q3...I -Q4...I | 19 7 7 - Q 1 . . . | -Q2...I -Q3...I -Q4...| | 1978-Q1...| -Q2...I -Q 3...| -Q4...I 1979-Q1...| -Q2. . . 1 -Q3...I -Q4. . . | DEMAND FOR LOANS LOWER SAME HIGHER FUND AVAILA BI LI TY LOWER SAME HIGHER LOAN REPAYMENT RATE LOWER HIGHER SAME 13. 4. 6. 6. 34. 40. 35. 21. 53. 55. 60. 72. 14. 19. 17. 39. 49. 51. 50. 44. 37. 30. 33. 17. 34. 31. 26. 56. 51. 60. 67. 43. 15. 9. 7. 1. 5. 3. 6. 5. 26. 29. 28. 33. 70. 67. 66. 62. 35. 38. 41. 37. 43. 49. 45. 49. 22. 13. 14. 15. 68. 64. 67. 63. 30. 30. 29. 32. 2. 5. 4. 5. 13. 11. 13. 10. 44. 46. 46. 38. 44. 43. 41 . 52. 19. 17. 20. 26. 54. 54. 46. 48. 27. 29. 34. 26. 52. 34. 27. 16. 35. 49. 52. 59. 13. 18. 21. 24. 17. 13. 11. 10. 41. 39. 34. 45. 41. 48. 56. 45. 21. 22. 27. 32. 49. 49. 40. 45. 30. 28. 33. 23. 12. 10. 8. 16. 53. 63. 70. 68. 34. 27. 22. 16. 10 V/ 13 ___L V 0 i RENEWALS OR EXTENSIONS! i SAME HIGHER | i LOWER i i 12 . 57. 31. I i 54. 38. I 8. i 64. 4. 31. I i 54. | 5. 42. i i I 33. 1. 66. ! i 66. | 3. 32. i 69. | 28. 2. i 32. 65. | 3. i i 1 38. 52. | 10. i 54. 37. | 8. i 57. 28. | 15. i 18 . 65. 18. 1 i i 1 27. 15. | 58. i 64. 15. | 21 . i 17. 71. 12. 1 i 68. 14. 18. | i i /C '<*•- S-£T 17 COLL AT ER AL lR EQUIRED LOWER 3 V SAME HIGHER 2. 1. 2. 0. 68. 74. 71. 64. 30. 25. 27. 36. 1. 1. 1. 0. 59. 57. 58. 59. 40. 43. 41. 41. 1. 0. 2. 1. 64. 68. 68. 68. 34. 32. 30. 31. 1. 1. 1. 1. 74. 66. 70. 62. 25. 33. 29. 37. 38 / QU AR TE RL Y SURVEY OF AG RICULTURAL CR ED IT CONDITIONS, TENT H FEDERAL RESERVE D I S T R I C T - F E D E R A L RESERVE BANK OF KA NS AS CITY TABLE 343.1 AVERAGE LOAN/DEPOSIT RATIO, AND PERCENTAGE OF BANKS RE PO RT IN G OTHER CO ND IT IO NS THAT RE FL EC T RE LATIVE CR ED IT A V AI LA BI LI TY IREFUSED OR 1 I NUMBER OF FARM LOAN 1REQUESTS REFERRED TO— l 1 1 LO AN /D EP OS IT RATIO IS— | REOUCED A 1ACTIVELY 1 NONBANK AGENCIES | FARM LOAN |SEEKING I CORRES PO ND EN T BANKS 1 AVERAGE 1 DATE OF 1 I LOAN/DEPOSIT| LOWER HI GHER IREQUEST IN 1 NEW | COMP AR ED WITH SURVEY 1 THAN AT 1 RATIO | PR EV IO US 1 FARM THAN 1 1 CO MPARED WITH NONE! USUAL NUMBER LOAN I (PER CENT) IDESIRED DESIRED DE SI RE D( QU AR TE R DUEl 1NONE 1 USUAL NUMBER 1 LEVEL LEVEL LEVEL |T0 SH ORTAGE|ACCOUNTS 1 1. 1 1. 1 OF FUNDS 1 1 1LO WE R SAME HIGHER] _____ LLQM£&_ SAME 1H IGHER 1 1 1 1 41. 19. 19. 26. 58. 62. 12. 63. 1976-Q1... 1 56. 12. 37. ! 51. 1 13. 1 51. 10. 70. 20. 69. 18. 45. 13. 51. 1 48. -Q2... 1 57. 12. 34. 1 54. 1 14. 19. 16. 44. 13. 69. 19. 65. 1 49. 51. - Q 3 . •• 1 59. 12. 39. 1 47. 1 11. 46. 9. 66. 25. 35. 9. 21. - Q 4 . •• | 1 40. I 20. 69. 62. 10. 51. 1 52. ■ 1 1 5. 61. 34. 7. 64. 29. 39. 37. I 39. 1977— Q l ••• ! 48. 61. 21. 1 23. 1 31. 37. 27. 37. 6. 57. 30. 10. 63. | 40. 62. I 36. - Q 2 ••• I 12. 1 22. 52. 37. 58. 5. 64. 28. 36. - Q 3 ... I 1 28. I 26. 31. 8. 65. 12. 59. 1 37. 5. 50. 45. 10. 58. 32. 32. 26. 1 41. -Q4... I 65. I 26. 17. 52. I 31. 1 49. 23. 36. 7. 44. 62. I 40. 12. 65. 1978-Q1... 1 16. 31. 44. 1 43. 1 21. I 36. 10. 73. 17. 34. 13. 49. 38. - Q 2 ••• 1 62. 46. 39. 1 39. 15. 1 15. 14. 29. 58. 63. 20. 66. 15. 37. -Q3. • . I i 43. 14. 35. 43. 1 13. 1 39. 29. 64. 19. 66. 16. 36. 13. 57. - Q 4 . ■• 1 34. 43. | 18. I 40. I 42. 15. i 1 ■ 1 1979-Q1... I 14. 33. 13. 53. 34. 62. 37. 1 40. 18. 68. 1 38. 18. 1 14. 43. 37. — Q 2 •• . 1 63. 13. 50. 35. 1 40. 16. 62. 47. 1 18. 22. 31. 1 42. 11. - Q 3 .•■ 1 64. 14. 37. i 40. 14. 65. 21. 31. 13. 56. 31. 44. | 18. ) 1 42. - Q 4 . •■ I 64. 35. 12. 54. 34. I 21. ^(J 9. 56. 34. 1 >4. 13. 61. 26. I 35. 1/ 1 . 1 1 > v" i 5 8 // K / ^"2 (32- ' 'I S , IU S'? v z X /3 s?' & 18 QU ARTERLY SURVEY OF AGRI CU LT UR AL CREDIT CONDITIONS, TENTH FEDERAL RESERVE DISTRICT— FEDERAL RESERVE BANK OF KA NS AS CITY TABLE 344.1 MOST CO MM ON INTEREST RATES CHARGED U N FARM LOANS (AVERAGE, PER CENT) DATE OF SURVEY 1 1 1 OTHER OPERATING LOANS FEEDER CATTLE LOANS 1 9 76 -Q 1.. . | -Q2...1 -Q3...I -Q4. . . | i 1 1 9 7 7 - Q 1 . .. | -Q2...I - Q 3 ... 1 -Q4...I | 1 9 7 8 - Q 1 .. . | -Q2...| - Q 3 ... 1 -Q4...I 1 1 1 9 7 9 - Q 1 ... 1 -Q2...| -Q3...J -Q4...I 1 INTERMEDIATE-TERM (1 TO 7 YEARS) LOANS LONG-TERM REAL ESTATE LOANS 8.77 8.81 8.78 8.82 8.92 8.91 8.89 8.93 9.15 9.21 9.16 9.22 9.10 9.17 9.19 9.22 8.84 8.84 8.84 8.87 8.95 8.96 8.98 8.98 9.23 9.33 9.34 9.32 9.23 9.25 9.25 9.22 8.90 8.94 9.07 9.27 9.03 9.06 9.22 9.40 9.35 9.38 9.54 9.80 9.23 9.29 9.46 9.64 9.88 10.20 10.45 11.52 9.95 10.28 11.09 11.59 10.24 10.62 10.80 11.81 10.03 10.30 10.51 11.31 n& / /2 QUARTERLY SURVEY OF AG RICULTURAL CREDIT CONDITIONS, TABLE 345.1 TENTH FEDERAL RESERVE DI S T R I C T — FEDERAL RESERVE BANK OF KANSAS CITY FARM REAL ESTATE VALUES 1 1 DATE OF | DOLLARS PER ACRE SURVEY I IRRIGATED RA NC HL AN D 1 NO NI RR IG AT ED CROP LA ND CR OPLAND 1 1 1976-Q1...| 823. 469. 234. 491. 884. 254. -Q2. .. I 914. - Q 3 ... I 497. 253. 991. 259. -Q4...I 528. | 977. 261. 19 7 7 - Q 1 ... I 519. 980. - Q 2 ... I 530. 272. 984. -Q3...1 271. 533. -Q4...| 961. 518. 264. 1978-Q1...| -Q2... 1 -Q3...1 -Q4...I 530. 546. 561. 591. 980. 970. 1007. 1066. 264. 270. 280. 295. 19 7 9 - Q 1 . . . | -Q2...I - Q 3 ... 1 -Q4...I 615. 672. 695. 721. 1114. 1181. 1316. 1296. 297. 334. 335. 348. 1 MARKET VALUE OF GOOD FA RMLAND 1PERCENTAGE CHAN GE FROM PREVIOUS QUAR TER 1 PERCENTAGE CHANGE FROM 1PREVIOUS YEAR 1 1 I NO NI RR IG AT ED IRRIGATED I NONIRR IG AT ED IRRIGATED RA NCHLAND RA NC HL AN D 1 CR OP LA ND CR OP L A N D 1 CROP LA ND CROPLAND 1 I | **** **** **** | **«* ***♦ **** | **** **** **♦* i 4.6 7.4 8.4 | **** **** 3.5 **** -0.3 1 1.2 j **** **** **** 1 6.2 8.4 2.5 i ■ 1 1 -1.7 -1.5 0.6 1 10.6 18.7 11.5 0.4 1 2.2 4.2 I 8.1 10.9 7.1 1 0.5 -0.4 0.3 7.6 1 7.3 7.0 1 -2.8 -2.6 1 -1.9 -3.0 1.7 -2.3 1 1 1 2.3 2.0 0.0 0.4 1.2 1 2.1 2.4 -1.0 1 3. 1 I 3.0 -1.0 -0.6 3.7 | 2.8 3.6 1 5.4 3.4 2.3 5.9 5.4 10.9 11.9 1 5.3 I 14.2 1 1 1 1 1 J _____ 4.1 9.2 3.4 3.8 4.5 6.0 11.5 -1.5 0.8 12.5 0.2 3.9 1 I 1 I _L_ 16.2 23.0 23.8 21 .9 13.7 21.7 30.8 21.6 12.6 23.7 19.8 18.1 AG RICULTURAL FINANCE D A T A B O O K - Q U A R T E R L Y SERIES 350 OCTOBER 1979 DALLAS 351.1 Cu r r e n t 352.1 FARM NON-RE AL -E ST AT E LOAN VOLUME EXPECTED DURING THE CURRENT Q U A R T E R ..................................................................... 20 353.1 AVERAGE LOAN/DEPOSIT RATIO AND OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT A V A I L A B I L I T Y ............................................ 21 354.1 MOST COMMON INTEREST RATES CHARGED ON FARM L O A N S .................... 21 355.1 TRENDS IN FARM REAL ESTATE VALUES AND LOAN VO L U M E ................... 22 farm n o n -r e a l - estate lending e x p e r i e n c e ..................... 2 0 THE FEDERAL RESERVE BANK OF DALLAS INITIATED A QUARTERLY SURVEY OF AGRICU LT UR AL CREDIT CO ND IT IO NS ON JULY 1, 1975. A SAMPLE OF 331 MEMBER AND NONMEMBER BANKS WAS DRAWN TO PROVIDE REPR ES EN TA TI ON OF BANKS OF ALL SIZES TH ROUGHOUT THE ELEVENTH FEDERAL RESERVE DISTRICT. A RESPONSE RATE OF ABOUT 70 PER CENT HAS BEEN EXPERIENCED. AS OF JANUARY 1976, THE SURVEY CO VE RE D 23 PER CENT OF ALL BANKS IN THE DISTRICT. THE EFFECTIVE SA MPLING RATE WAS RELATED PRIMARILY TO THE RELATIVE IMPORTANCE OF FARM LENDING. OF THE 522 BANKS AT WHICH FARM LOANS COMPRISED ONE-FOURTH OR MORE OF TOTAL LOANS (BASED ON JUNE 1974 DATA), 54 PER CENT WERE INCLUDED IN THE SURVEY. THIS GROUP THUS AC CO UN TE D FOR 85 PER CENT OF THE BANKS IN THE SURVEY. SURVEY RESULTS ARE PU BL IS HE D AND DI SCUSSED BRIEFLY IN A QUARTERLY STATISTICAL RELEASE ENTITLED "Q UARTERLY SURVEY OF AGRICULTURAL CREDIT COND IT IO NS IN ELEVENTH FEDERAL RESERVE DISTRI CT ," WHICH MAY BE OBTAINED FROM THE RE SE AR CH DEPARTMENT, FEDERAL RESERVE BANK OF DALLAS, STATION K, DALLAS, TEXAS, 75222. 19 20 QU AR TE RL Y SURVEY OF AGRICULTURAL CREOIT CONDITIONS, ELEVENTH FEDERAL RESERVE D I S T R I C T — F EDE RAL RESERVE 8ANK OF DALLAS TABLE 351.1 CU RRENT FARM NO N- RE AL-ESTATE LENDING EXPERIENCE, CO M P A R E D WITH USUAL C O N D IT IO NS PERCENTAGE OF BANKS RE PO RT IN G DATE OF SURVEY 1975-Q3. -Q4. 1976-Q1. -Q2. -Q3 . -Q4. 1977-Q1. -Q2. -Q3. -Q4. 1 1 1 1 1 1 1 1 1 1 1 19 7 8 - Q 1 . -Q2 . • • 1 -Q3. -Q4. 1 1 1979-Q1. -Q2. -Q3 . -Q4. | DEMAND FOR LOANS LOWER SAME I HIGHER FUND AVAILABILITY I LOWER SAME HIGHER 1 LOAN RE PAYMENT RATE 1 LOWER SAME HIGHER RENE WA LS OR EX TE NS IO NS LOWER SAME HIGHER CO LL AT ER AL REQUIRED LOWER SAME HIGHER 20. 21. 50. 58. 30. 21. 1 1 12. 11. 50. 59. 38. 30. 1 1 37. 25. 57. 64. 6. 12. 6. 15 . 48. 50. 47. 35. 0. 1. 54. 61. 46. 38. 16. 17. 6. 7. 53. 55. 54. 46. 31. 28. 40. 47. 1 1 1 1 7. 7. 7. 14. 58. 58. 68. 62. 36. 36. 25. 24. 1 1 1 1 28. 21. 15. 28. 65. 73. 78. 69. 7. 6. 7. 4. 11 . 7. 6. 5. 55. 66. 74. 69. 34. 27. 20. 26. 1. 0. 1. 0. 63. 68. 71. 68. 37. 32. 28. 32. 14. 7. 5. 3. 51. 53. 43. 42. 35. 40. 52. 55. 1 1 1 1 15. 12. 15. 19. 51. 54. 63. 63. 34. 34. 22. 18. 1 1 1 1 28. 26. 31. 38. 66. 67. 66. 59. 5. 7. 3. 3. 8. 5. 4. 4. 59. 59. 65. 52. 33. 35. 31-. 44. 1. 74. 70. 62. 68. 25. 30. 38. 32. 8. 45. 52. 47. 46. 47. 42. 48. 48. I 1 1 I 20. 17. 28. 38. 65. 65. 57. 48. 15. 17. 14. 14. 1 1 1 1 49. 36. 25. 29. 49. 61. 72. 61. 3. 4. 4. 9. 4. 4. 7. 10. 44. 55. 62. 60. 52. 41. 31. 30. 0. 1. 0. 1. 62. 59. 63. 59. 38. 40. 37. 41. 43. 46. 54. 52. 49. 43. 34. 34. I | 1 1 40. 38. 37. 35. 46. 50. 51. 50. 13. 12. 11. 15. 1 1 I 1 28. 19. 18. 14. 61. 69. 66. 66. 11. 12. 16. 20. 14. 14. 13 . 21 . 57. 60. 66. 64. 29. 27. 20. 15. 1. 1. 0. 0. 64. 56. 63. 58. 35. 43. 37. 42. 6. 4. 6. 8. 11. 12. 14. 0. 1. 1. QUARTERLY SU RV EY OF AGRICU LT UR AL CREDIT CONDITIONS, ELEVENTH FEDERAL RESERVE DISTRI CT — F EDERAL RESERVE BANK OF DALLAS TABLE 352.1 FARM N O N - RE AL -E ST AT E LOAN VOLUME EXPECTED DURING THE CURRENT QUARTER, C O M P AR ED WI TH VOLUME OF LOANS MADE A YEAR EARLIER PERCENTAGE OF BANKS RE PO RT IN G TOTAL 1 | | LOWER SAME HIGHER 1 1 1975— Q 3 ... I 26. 41. 33. - Q 4 .. .| 23. 55. 23. • 1 9 7 6 - Q 1 ...| 13. 36. 51. - Q 2 ... I 11. 37. 52. 7. - Q 3 ... I 51. 41. 44. - Q 4 ... I 14. 42. i 1 9 77 -Q 1... I 11. 50. 39. 7. 47. - Q 2 ... I 46. 6. -Q3...I 50. 44. -Q4...I 11. 46. 43. 1 9. 44. 47. 1978— Ql...| -Q2...I 11. 47. 42. -Q3...| 6. 50. 44. -Q4...I 14. 43. 43. j 1 9 7 9 - Q 1 . . . | 15. 45. 40. 34. 48. -Q2...I 18. - Q 3 . . . | 23. 25. 52. - Q 4 . . . | 20. 53. 27. DATE OF SURVEY ___L_ | FEEDER CATTLE 1 LOWER SAME 1H IGHER DAIRY | CROP STORAGE LOWER SAME 1H IGHER | LOWER SAME HI GH ER OPER AT IN G | LOWER SAME HIGHER FARM MA CH IN ER Y I LOWER SAME HIGHER 1 I 54. 38. 30. 42. 16. 20. 34. 31. 59. 64. 6. 5. 1 I 15. 16. 55. 62. 30. 22. 13. 15. 36. 49. 52. 36. 1 1 29. 15. 42. 50. 30. 36. 1 I 1 1 28. 30. 27. 41. 45. 55. 55. 46. 27. 15. 17. 13. 21. 18. 21. 17. 71 . 76. 72. 75. 8. 6. 8. 8. 1 1 i 1 17. 11. 14. 13. 57. 75. 59. 58. 26. 15. 26. 29. 7. 7. 7. 10. 43. 46. 45. 43. 50. 47. 48. 47. 1 I 1 | 10. 16. 14. 16. 57. 50. 52. 49. 33. 34. 35. 36. 1 1 1 I 27. 24. 23. 18. 57. 62. 59. 59. 15. 14. 18. 23. 14. 12. 15. 18. 81. 82. 73. 75. 5. 7. 13 . 7. 1 1 I 1 9. 12. 11. 15. 61. 67. 56. 54. 30. 22. 33. 31 . 8. 5. 3. 11 . 44. 38. 40. 42 . 48. 57. 56. 47. i 1 1 i 15. 14. 15. 30. 50. 48. 47. 43. 35. 38. 38. 27. 1 I 1 I 13. 18. 11. 16. 60. 46. 56. 45. 27. 36. 32. 39. 15. 14. 15. 18. 77. 72. 72. 73. 8. 14. 14. 9. 1 1 1 1 10. 11 . 13. 12. 57. 57. 60. 33. 28. 30. 28. 6. 10. 5. 11. 44. 36. 44. 46. 49. 54. 51 . 43. i I 1 1 31. 28. 23. 20. 45. 48. 47. 51. 24. 24. 30. 29. I | 1 1 18. 22. 29. 19. 47. 51. 55. 60. 35. 27. 16. 21. 12. 19. 17. 16. 78. 73. 71. 72. 10. 8. 12. 12. | 1 I 1 i 18. 11. 21. 13. 61. 77. 70. 66 . 21 . 13. 9. 21. 10. 14. 19. 11 . 40. 41. 44. 51. 50. 45. 36. 39. 1 ! 1 1 22. 18. 14. 19. 51. 48. 54. 45. 27. 33. 33. 36. bl . QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, ELEVENTH FEDERAL RESERVE DI S T R I C T — FEDERAL RESERVE BANK OF DALLAS TABLE 353.1 AVERAGE LO AN/DEPOSIT RATIC, AND PERCENTAGE OF BANKS REPORTING OTHER CONDITIONS THAT REFLECT RE LATIVE CREDIT AVAI LA BI LI TY LOAN/DEPOSIT RATI DATE OF SURVEY AVERAGE LOAN/DEPOSIT • RATIO (PER CENT) LOWER THAN DESIRED ABOUT RIGHT REFUSED OR | REDUCED A |ACT IVELY FARM LOAN |SEEKING REQUEST IN | NEW PREVIOUS I FARM HIGHER QUARTER DUE| LOAN THAN DE SIRED TO SHORTAGE IACCOUNTS OF FUNDS I NUMBER OF FARM LOAN REQUESTS REFERRED TO— CO RR ES PO ND EN T BANKS, CO MPARED WITH USUAL NUMBER LOWER SAME 27. 28. 61. 60. 22. 20. 16. 19. HIGHER NONBANK AGENCIES, CO MP AR ED WITH USUAL NUMBER LOWER SAME HIGHER 13. 12. 17. 14. 59. 65. 22 20, 66. 69. 72. 63. 13. 11. 11. 18. 19. 16. 13. 17. 63. 71. 80. 74. 18 13, 7 9 16. 18. 17. 12. 70. 72. 66. 68. 14. 10. 17. 20. 12. 13 . 14. 7. 73. e>5. 65. 64. 15 22, 21 29 10. 10. 7. 8. 74. 73. 73. 68. 15. 17. 20. 24. 8. 8. 8. 5. 61. 64. 63. 60. 31 28 29 35, 15. 9. 14. 13. 69. 75. 69. 71. 17. 16. 17. 16. 6. 7. 7. 13. 55. 63. 67. 67. 38 30 26 20 __ I9 7 5 - Q 3 . . . | -Q4...| 58. 55. 1 1 25. 29. 55. 55. 20. 16. | 1 11. 12. 40. 44. 1 9 7 6 - Q 1... 1 -Q2. .. | - Q 3 ... | -Q4...| 54. 55. 58. 60. 37. 37. 26. 24. 46. 48. 56. 50. 17. 15. 19. 26. | 1 I 1 8. 7. 7. 13. 49. 51. 50. 45. I9 7 7 - Q 1 ... | - Q 2 ... I -Q3...I -Q 4...| 57. 58. 62. 63. 25. 31. 22. 21. 59. 53. 53. 52. 16. 17. 26. 28. | | | | 10. 10. 15. 9. 50. 49. 44. 39. 1 9 7 8 - Q 1 .. . | - Q 2 . .. 1 -Q3...| -Q4...I 60. 59. 62. 63. 21. 25. 21. 15. 56. 51. 47. 54. 23. 24. 31. 31. | | 1 1 9. 15. 14. 22. 36. 36. 32. 32. 1979-Q1...| - Q 2 ...1 -Q3...I -Q4...| 60. 60. 62. 63. 1 1 I 1 i 1 1 1 1 1 i 1 I 1 1 | 1 1 1 1 1 22. 20. 19. 15. 52. 55. 55. 61. 26. 25. 26. 24. | | | | 23. 22. 24. 18. 28. 30. 33. 35. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 QU ARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, ELEVENTH FEDERAL RESERVE DISTRICT — FEDERAL RESERVE BANK OF DALLAS TABLE 354.1 MOST COMMON INTEREST RATES CHARGED ON FARM LOANS (AVERAGE, PER CENT) 1 | FEEDER CATTLE | LOANS 1 1 9.47 19 7 5 - Q 3 . • • | -Q4...I 9.60 | 1 9 7 6 - Q 1 ... | 9.46 9.34 -Q2...I -Q3...I 9.33 -Q4...I 9.33 | 1 9 7 7 - Q 1 ... 1 9.27 -Q2...I 9.30 -Q3...I 9.28 - Q 4 . ..| 9.30 i 1 9 7 8 - Q 1 ... 1 9.39 -Q2...I 9.43 -Q3...I 9.53 -Q4...I 9.75 ■ 1 1979— Q 1 .. . | 10.10 10.25 -Q2...I 10.35 -Q3...I -Q4...I 11.42 ________ 1___ DATE OF SURVEY OTHER OPER AT IN G LOANS INTERMEDIATE-TERM (1 TO 7 YEARS) LOANS LONG-TERM REAL ESTATE LOANS 9.39 9.41 9.36 9.44 9.26 9.32 9.42 9.33 9.29 9.31 9.42 9.40 9.40 9.41 9.36 9.35 9.36 9.35 9.28 9.25 9.24 9.26 9.37 9.37 9.40 9.43 9.31 9.32 9.33 9.39 9.37 9.42 9.50 9.74 9.46 9.52 9.58 9.79 9.44 9.48 9.56 9.77 10.07 10.25 10.34 11.33 10.08 10.24 10.35 11.31 9.99 10.12 10.19 10.91 21 22 QUARTERLY SURVEY OF AGRICULTURAL CREDIT CO NDITIONS, EL EV EN TH FEDERAL RESERVE D I S T R I C T — FEDERAL RESERVE BANK OF DALLAS TABLE 355.1 TRENDS IN F ARM REAL ESTATE VALUES AND LOAN VOLUME MARKET VALUE OF GOOD FARMLAND DOLLARS PER ACRE SURVEY | DRY1_ LAND_ IRRI RANCHGATED. LAND PE RC EN TA GE CHANGE FROM PR EVIOUS YEAR DRY LAND IRRI RANCHGATED i AND DRY1 AND 1 9 7 5 - Q 3 . .. j - Q 4 . .. | **** *♦** **** **** **** **** **** **** **** **** **** **** **** **** J | 1 1 **** ***♦ 397. 387. **** **** 652. 670. **** **** 274. 284. **** **** *♦** -2.5 **** ***♦ **** 2.8 **** **** **** 3.6 **** **** **** **** 1 9 7 7 - Q I ... 1 -Q2... I -Q3... 1 -Q4... 1 395. 403. 414. 415. 685. 685. 722. 700. 287. 286. 303. 295. 2.1 2.0 2.7 0.2 2.2 0.0 5.4 -3.0 1.1 -0.3 5.9 -2.6 **** **** 4.3 7.2 1978-Q1... -Q2... -Q3... -Q4... 1 I 1 I 435. 441. 449. 481. 704. 726. 781. 776. 300. 304. 344. 342. 4.8 1.4 1.8 7.1 0.6 3. 1 7.6 -0.6 1.7 1.3 13.2 -0.6 10.1 9.4 8.5 15.9 1979-QI... -Q2... -Q3... -Q4... 1 1 1 1 474. 519. 508. 539. 828. 928. 866. 833. 369. 378. 394. 422. -1.5 9.5 -2.1 6.1 6.7 12.1 -b.7 -3. 8 7.9 2.4 4.2 7. 1 9.0 17.7 13.1 12.1 1976-QI... -Q2... -Q3... -Q4... PE RC EN TA GE OF BANKS EXPECTING TREND DURING THE CU RRENT QUARTER TO BE— 1 l_ DOWN STABLE UP IRRI RANCH-J GATED LANDJl_ 1 **** | **** 4. 87. 9. *♦** | **** 3. 78. 19. l 1 **** | **** 81 . 3. 16. **** **** J 3. 80. 17. **** **** | 76. 23. 1. **** **** | 3. 76. 21. 1 **** **** | 5. 76. 19. *♦** **** | 69. 27. 4. 73. 20. 7. 10.6 | 10.7 71. 16. 4.5 3.9 | 13. 1 76. 13. 2.8 4.5 | 11. 6.0 28. 6.3 | 70. 2. 8.2 13.5 j 77. 21. 1. 10.9 15.9 | 26. 2. 72. 1 17.6 23.0 | 3. 71. 27. 27.8 24.3 | 2. 68. 29. 10.9 14.5 | 3. 70. 27. 7.3 23.4 | 2. 62. 36. PERCENTAGE CHANGE FROM PREVIOUS QUARTER PERCENTAGE OF BANKS EX PECTING FARM REAL ESTATE LOAN VOLUME DU RI NG THE CU RR EN T QUARTER, AS C O M P AR ED WITH VOLUME MADE A YEAR EARLIER, TO BE— LOWER SAME 31. 22. 57. 67. 12. 11. 16. 16. 18. 16. 72. 72. 68. 67. 12. 12. 13. 17. 18. 17. 13. 23. 66. 66. 66. 62. 16. 17. 21. 16. 18. 17. 14. 24. 64. 67. 63. 65. 19. 16. 23. 12. 25. 28. 27. 26. 61. 61. 61. 56. 13. 11. 12. 18. HIGHER AG RICULTURAL FINANCE D A T A BO OK— QU AR TE RL Y SERIES 360 OCTOBER 1979 RICHMOND 361.1 t U RR EN T FARM NO N- RE AL -E ST AT E LE ND IN G E X P E R I E N C E................... ,,.24 362.1 FARM NON-REAL -E ST AT E LOAN VOLUME EXPECTED DURING THE CURRENT Q U A R T E R ..................................................................... 24 363.1 AVERAGE LOAN/DEPOSIT RATI O AND OTHER CONDITIONS THAT REFLECT RELATIVE CREDIT A V I A L A B I L I T Y ....................................... ....25 364.1 TYPICAL INTEREST RATES CHARGED ON FARM L O A N S ....................... .25 365.1 TRENDS IN FARM REAL ESTATE VALUES AND LOAN V O L U M E .................. 26 THE FEDERAL RESERVE BANK OF RICHMOND BEGAN A QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS ON OCTOBER 1, 1975. IN SELECTING THE SAMPLE, THE 773 BANKS IN THE FIFTH FEDERAL RESERVE DISTRICT WERE STRATI FI ED ON THE BASIS OF OUTSTANDING DOLLAR VOLUME OF FARM LOANS, AND THOSE BANKS WI T H A HIGH VOLUME OF FARM LOANS WERE SAMPLED MUCH MORE HEAVILY. A TOTAL OF 64 BANKS WERE SELECTED IN THIS MANNER, OF WHICH 43 AGREED TO PARTICIPATE IN THE SURVEY. OF THE 18 BANKS WHERE OUTSTANDING FARM LOANS EXCEEDED $10 MILLION (BASED ON JUNE 1974 DATA), 16 WERE INCLUDED IN THE FINAL SAMPLE OF 43 BANKS. AN EXTENSIVE DISCUSSION OF SURVEY RESULTS IS PRESENTED QUARTERLY IN A REPORT ENTITLED "FARM CREDIT CONDITIONS IN THE FIFTH DISTRICT," WHICH MAY BE OBTA IN ED FROM SADA CLARKE, RE SE AR CH DEPARTMENT, FEDERAL RESERVE BANK OF RICHMOND, RICHMOND, VIRGINIA, 23261. 24 QUAR TE RL Y SURVEY OF AG RI CU LT UR AL CREDIT CONDITIONS, FIFT H FEDERAL RE SERVE D I S T R I C T - F E D E R A L RESERVE BANK OF RI CH M O N D TABLE 361.1 CU RR EN T FARM N O N - R E AL -E ST AT E LENDING EXPERIENCE, CO MP A R E D WITH USUAL C O ND IT IO NS PERCENTAGE OF BANKS RE PORTING DATE OF SURVEY 1 | 1 DEMAND FOR LOANS LOWER SAME HIGHER 1975-Q4... 21. 51. 28. 1976-Q1... - Q 2 ... ~ Q 3 ... -Q4... 12. 6. 0. 11. 68. 71. 74. 74. 21. 23. 26. 14. 1 9 7 7 - Q 1 ... - Q 2 ... - Q 3 ... -Q4... 0. 6. 6. 12. 85. 60. 58. 62. 15. 34. 36. 27. 1 9 7 8 - Q 1 ... - Q 2 . .. - Q 3 ... -Q4 ... 7. 21. 19 , 10. 60. 36. 69. 61 . 33. 42. 13. 29. 1 9 7 9 - Q 1 ... - Q 2 ... - Q 3 . .. - Q 4 . .. 13. 9. 7. 16. 63. 65. 68. 58. 25. 27. 26. 26. 1 I 1 1 1 1 1 1 1 1 1 1 1 1 1 1 I 1 1 1 1 1 1 1 1 FUND AVAILA BI LI TY LOWER SAME HIGHER 1 1 1 LOAN R E PA YM EN T RATE LOWER SAME HIGHER L 1 R E N E WA LS OR EXTENSIONS! 1 1 SAME HI GH ER | 1 LOWER 10. 46. 44. 31. 62. 8. 5. 67. 28. 6. 6. 3. 3. 44. 43. 63. 68. 50. 51. 34. 29. 21. 20. 0. 11. 71. 77. 97. 86. 9. 3. 3. 3. 3. 0. 11 . 9. 71. 80. 86. 83. 27. 20. 3. 9. 3. 50. 63. 72. 71. 47. 37. 22. 21. 24. 6. 11. 24. 77. 91. 89. 74. 0. 3. 6. 9. 0. 3. 12. 6. 0. 3. 59. 83. 86. 67. 29. 11. 14. 30. 10. 27. 36. 32. 73. 67. 58. 65. 17. 6. 7. 3. 57. 30. 13. 10. 37. 70. 84. 81. 7. 0. 3. 10. 3. 3. 3. 16 . 33. 61. 81 . 68. 63. 36. 16. 16. 31. 27. 36. 26. 66. 74. 65. 74. 3. 6. 6. 7. 10. 78. 85. 87. 87. 16. 9. 7. 3. 16. 12 . 75. 85. 90. 84. 9. 3. 10. 13. 0. _L_. 0. 0. 0. 0. 3. 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 _1__ CO LL A T E R A L RE QU IR ED LOWER SAME HI GH ER 0. 77. 23. 0. 0. 0. 0. 76. 80. 83. 80. 24. 20. 17. 20. 0. 79. 79. 81. 85. 21. 21. 17. 15. 77. 73. 78. 84. 23. 27. 19. 16. 75. 76. 71. 74. 25. 24. 29. 26. 0. 3. 0. 0. 0. 3. 0. 0. 0. 0. 0. QU AR TE RL Y SU R V E Y OF AGRICULTURAL CREDIT CONDITIONS, FI F T H FEDERAL RE SERVE DIST RI CT— FEDERAL R E SE RV E BANK OF R I C H M O N D TABLE 362.1 FARM NO N- RE AL -E ST AT E LOAN VOLUME EX PECTED DU RI NG THE CURRENT QUARTER, C O M P A R E O W I T H VO LU ME OF LOANS MADE A YEAR EA RL IE R PERCENTAGE OF BANKS RE PO RT IN G DATE OF SURVEY 1975-Q4. 1976— Ql-Q2. -Q3. -Q4. 1977-Q1. -Q2. -Q3. -Q4. 19 7 8 - Q 1 • -Q2. -Q3. -Q4. 1979-Q1• -Q2. -Q3 • -Q4. TOTAL r i I LOWER SAME HIGHER i \ t 1 I I 1 1 t r FEEDER CATTLE DAIRY LOWER SAME HIGHER LOWER SAME HIGHER CROP STORAGE LOWER SAME H I GH ER FA RM MACH IN ER Y O P E R AT IN G LOWER SAME HIGHER LOWE R SAME HI GH ER 13. 58. 29. 39. 52. 9. 12. 76. 12. 14. 58. 28. 8. 59. 33. 18. 49. 33. 6. 0. 6. 3. 61. 67. 66. 77. 33. 33. 29. 20. 37. 14. 19. 26. 56. 61. 68. 68. 7. 25. 13. 7. 25. 10. 16. 12. 57. 66. 66. 73. 18. 24. 19. 15. 23. 19. 16. 7. 55. 69. 68. 61. 23. 13. 16. 32. 3. 0. 3. 6. 47. 54. 66. 77. 50. 46. 31. 17. 21. 11. 17. 9. 41. 49. 60. 69. 38. 40. 23. 23. 3. 0. 6. 6. 73. 69. 56. 64. 24. 31. 39. 30. 19. 7. 28. 14. 78. 87. 66. 64. 4. 7. 7. 21. LI. 10. 23. 17. 79. 81. 70. 72. 11. 10. 7. 10. 10. 9. 15. 19. 73. 82. 55. 41. 17. 9. 30. 41. 3. 3. 8. 9. 56. 49. 36. 44. 41. 49. 56. 47. 6. 3. 17. 24. 68. 57. 47. 59. 27. 40. 36. 18. 7. 16. 19. 17. 62. 50. 59. 72. 31. 34. 22. 10. 15. 10. 21. 7. 74. 80. 71. 71. 11. 10. 7. 21. 11. 17. 21. 10. 85. 80. 79. 90. 4. 3. 0. 0. 14. 28. 13. 10. 57. 69. 67. 53. 29. 3. 20. 37. 13. 24. 16. 23. 37. 36. 44. 55. 50. 39. 41. 23. 30. 30. 31. 23. 53. 46. 38. 48. 17. 24. 31. 29. 16. 6. 17. 23. 55. 58. 62. 57. 29. 36. 21. 20. 15. 11. 27. 19. 70. 71. 69. 82. 15. 18. 4. 0. 17. 19. 22. 25. 72. 75. 74. 68. 10. 6. 4. 7. 23. 30. 14. 23. 65. 58. 62. 48. 13. 12. 24. 24. 19. 6. 19. 23. 47. 50. 48. 42. 34. 44. 32. 36. 16. 12. 26. 19. 56. 65. 48. 71. 28. 24. 26. 10. | QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, FIFTH FEDERAL RESERVE DI ST RI CT— FEDERAL RESERVE BANK OF RICH MO ND TABLE 363.1 AVERAGE LOAN/DEPOSIT RATIO, AND PERCENTAGE OF BANKS REPORTING OTHER COND IT IO NS THAT REFLECT RELATIVE CREDIT AV AILABILITY REFUSED OR | NUMBER OF FARM LOAN REQUESTS REFE RR ED TO— RE DUCED A |ACTIVELY FARM LOAN I SEEKING CORRES PO ND EN T BANKS NONBANK AGENCIES REQUEST IN | NEW | CO MPARED WITH HIGHER i CO MP AR ED WITH PREVIOUS | FARM THAN QUARTER DUE| LOAN NONE I USUAL NUMBER NONE I USUAL NUMBER DESIRED TO SHORTAGE IACCOUNTS S_ LOAN /D EP OS IT RA TI O IS— DATE OF SURVEY AVERAGE LOAN/DEPOSIT . RATIO (PER CENT) LOWER THAN DESIRED ABOUT RIGHT _ JLLQM£B-SME_tiI£tiERJ____LiI2M££_£AM£_idI£b£B _aE_£UM2£_„L_________ 19 75 - Q 4 . ..1 64. 1976 - Q I ... I -02...| -Q3...I -Q4...1 60. 61. 64. 62. 1 9 7 7 - Q 1 ... 1 -Q2...I -Q3...I - Q 4 . ..1 62. 64. 66. 65. 1 9 7 8 - Q 1 . ..! -Q2...I - Q 3 -- I -Q4...I 66. 65. 68. 67. 1 9 7 9 - Q 1 .. . | - Q 2 . ..1 -Q 3...| -Q4.„.| 65. 66. 68. 68. 1 I 1 1 I I 1 1 1 1 1 | 1 | 1 1 1 1 | 1 I I *** 47. 45. 50. 44. 9. 13. 3. 3. 0 . S 48. 0 . I 53. 3. I 41. 0. j 44. 9. 3. 7. 6. 47. 44. 36. 25. 3. 9. 10. 16. 22. 26. 13. 29. 0 . 1 43. 0 . 1 33. 0. 0. 3. 0. 0. 0. 29. 33. 36. 36. 29. 33. 16. 13. 28. 23. 30. 24. 0 . | 39. 0. 0. 0. 0. 48. 39. 41. 31. 13. 23. 14. 10. 0. 11. 0. 3. 21 . 26. 27. 24. 3. 0. 3. 3. 0. 0. 0. 71. 82. 72. 68. I 1 | i 70. 65. 66. 72. 6. 3. 3. 3. 21. 32. 31 . 25. 1 1 | 1 3. 3. 13. 13. 73. 64. 56. 60. 78. 71. 83. 71. 3. 0. 0. | | 1 | 13. 6. 10. 7. 66. 68. 61. 61. i 1 1 1 i 1 I 1 1 I 10. | 8. 63. 47. 40. 30. 34. 44. 54. 55. 57. 9. 6. 15. 9. I I I I 3. 3. 3. 0. 42. 34. 27. 36. 58. 49. 50. 49. 0. 17. 24. 15. | 1 | | 36. 25. 13. 20. 43. 53. 47. 47. 21. 22. 41. 33. 16. 15. 10. 61. 62. 58. 73. 23. 24. 32. 17. . **♦ 6. 7. 0. 6. 76. 63. 70. 71. 62. 10 *4* 38. 36. 47. 47. 62. 71. 59. 65. j 1 I i I ( 28. 0. *** 72. 74. 63. 76. 0. 0. 0. 3. 0. | *** 1 1 1 1 I 48. 1 52. I 39. | 45. 0 . 1 59. ~L 3. 3. QUARTERLY SURVEY OF AGRICULTURAL CREDIT CONDITIONS, FIFTH FEOERAL RESERVE DISTRICT— FEDERAL RESERVE BANK OF RICHMOND TABLE 364.1 TYPICAL INTEREST RATES CHARGED ON FARM LOANS (AVERAGE, PER CENT) 1 | | i 1 197S-Q4...I j 1976-QI...I -02... 1 -Q3...1 -04...t i 1977-01...| -02...1 -03. -04...| 1 1978-Q1...I -02...1 -Q3...I -04...| DATE OF SURVEY 1979-Ql...| -02...1 -Q3...I -04...| ___________ L__ FEEDER CATTLE LOANS OTHER OPERATING LOANS INTERMEDIATE-TERM (1 TO 7 YEARS) LOANS LONG-TERM REAL ESTATE LOANS 3.98 8.98 9.53 9.34 8.89 8.88 8.91 8.77 8.86 8.90 8.81 8.75 9.48 9.29 9.26 9.20 9.22 9.26 9.19 9.31 8.89 8.78 8.84 8.70 8.89 8.73 8.82 8.74 9.29 9.17 9.26 9.28 9.28 9.30 9.35 9.27 8.90 9.00 9.30 9.60 9.00 9.10 9.40 9.50 9.50 9.40 9.70 10.00 9.40 9.50 9.60 9.80 10.30 10.90 11.40 12.10 10.40 10.70 11.00 12.10 10.50 11.20 11.30 12.30 10.30 10.90 11.40 11.90 25 26 QU A R T E R L Y SU RV EY OF AGRICULTURAL CREDIT CONDITIONS, F I FT H FEDERAL RESERVE D I S T R I C T — FEDERAL RESERVE BANK OF RI CH MO ND TABLE 365.1 TR EN DS IN FARM REAL ESTATE VALUES AND LOAN VOLUME MARKET VALUE OF GOOD FARMLAND DATE OF SURVEY 1 1 DOLLARS PER ACRE j | | PERCENTAGE CHANGE FROM P R E V IO US— QUARTER I PERCENTAGE OF BANKS EXPECTING 1 TREND DURING THE CURRENT i QUARTER TO BE — YEAR JL _ n Q M U _ __LIABLE- iIE 1975— Q 4 . . . | 777. | ♦*** **** 1 5. 82. 13. 1976-Q1...I -Q2 ... 1 -Q3...I -Q4...I 842. 810. 851. 869. I | 1 1 8.4 -3.8 5.1 2.1 **** **** **** 11.8 1 1 1 1 3. o. o. 0. 79. 80. 86. 83. 18. 20. 14. 17. 1977-Q1...| -Q2...I -Q3...| -Q4...I 906. 910. 937. 935. 1 | | | 4.3 0.4 2.9 -0.1 7.6 12.3 10.1 7.6 1 i 1 1 o. o. 6. o. 82. 82. 83. 94. 18. 18. 11. 6. 1978-Q1...| -Q2...I -Q3...I -Q4...1 1017. 1071. 1074. 1105. | 1 I | 8.7 5.3 0.3 2.9 12.3 17.7 14.7 18.1 1 1 i 1 3. o. o. o. 87. 76. 75. 74. 10. 24. 25. 26. 1979-Q1...| -Q2...I -Q3...I - Q 4 . ..| 1079. 1165. 1192. 1222. I I 1 i -2 .4 8.0 2.3 2.5 6.1 8.8 11.0 10.6 1 i 1 1 o. o. o. o. 66. 49. 65. 81. 34. 52. 36. 19. 1 P E RC EN TA G E OF BANKS E X PE CT IN G I FARM REAIL ESTATE LOAN VOLUME 1 DU RI NG T HE CU RR EN T QUARTER, 1 AS COMPA RED WITH VOLUME MADE 1 A YEAR EARLIER, TO BE-1 SAME HIGHER -1 - LOWER 1 76. 13. 1 11. i 1 16. 68. 16. I 18. 61. 21. 1 6. 76. 18. 70. 18. 1 12. i 1 1 9. 75. 16. 1 6. 70. 24. 27. 1 6. 67. 75. 13. 1 13. i 1 17. 70. 13. 10. 1 23. 68. 1 28. 63. 9. 1 20. 10. 70. 1 59. 7. 1 35. 1 22. 53. 25. 1 18. 57. 25. 61. 7. 1 32. _1_
@FedFRASER