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•
BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
H. 12
(For Immediate Release)
August 8, 1956
CHANGES IN COMMERCIAL AND INDUSTRIAL LOAMS BY INDUSTRY
_ Net increases of $66 million in loans to sales finance companies and
$56 million to commodity dealers were the principal factors in the $131 million
increase in commercial and industrial loans at weekly reporting member banks during
the week ended August 1.
Other net borrowings during the week included $25 million to "other"
types of business and $19 million to manufacturers of food, liquor, and tobacco
products.
The larger decreases were $20 million in loans to manufacturers and
producers of petroleum, coal, chemicals, and rubber products, which was the first
weekly decrease in this category since mid-June, $15 million to manufacturers of
metals and metal products, and $11 million to the wholesale and retail trade.
.
Changes in loans during the week and since the mid-year are shown below;
the third column shows the changes during the comparable period last year:
Business of Borrower
Manufacturing and mining:
Food, liquor, and tobacco
Textiles, apparel, and leather
Metals and metal products
Petroleum, coal, chemicals, & rubber
Other manufacturing and mining
Week
June 27, 1956
June 29, 1955
ended ,
to
/
to
Aug. 1&/ Aug. 1, 1956s/
Aug. 3, 1955
(in millions of dollars)
+ 19
+ 8
- 15
- 20
+ 6
- 81
+ 37
-136
+ 44
+ 81
+
+
+
61
6l
35
26
36
+
+
+
+
11
56
66
5
8
25
- 15
+197
-137
- 24
- 24
+ 49
+
+
+
+
+
+
35
62
54
7
24
86
Classified changes - net
Unclassified changes - net
+129
+ 2
- 10
- 89
+295
1/ -246
Net change in commercial and
industrial loans
+131
- 98
1/ + 49
Trade--wholesale and retail
Commodity dealers
Sales finance companies
Public utilities and transportation
Construction
Other types of business
p/ Preliminary; see footnote on attached table.
1/ Prior to 1956, unclassified changes and total net change included changes in
agricultural loans.
In addition to the weekly table, a monthly table is attached showing
changes during July compared with the preceding month and with July 1955, and also
showing changes during the past twelve months.
^
The direction of change during July was the same as in July 1955 in all
usiness categories except the wholesale and retail trade, public utilities, and
construction, where the amounts of changes were not large. However, the net change
in commercial and industrial loans was down $229 million in July 1956, in contrast
to an increase of $25 million a year ago. This resulted from much larger net repayments by sales finance companies than in the previous year; manufacturers of
tne a 8 a n d m e
^
tal products and of food, liquor, and tobacco products also made
larger repayments than in July 1955- Partially offsetting factors were larger net
increases in loans to commodity dealers, to manufacturers and producers of petroleum,
coal, chen-lcals, and rubber products, and to "other" manufacturing and mining.
H.12(a)
CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS
BY INDUSTRY AND FEDERAL RESERVE DISTRICT,
WEEK ENDED WEDNESDAY, AUGUST 1, 1956
Business of Borrower
Manufacturing and mining:
Food, liquor, and tobacco
Textiles, apparel, and leather
Metals and metal products (including
machinery & transportation equipment)
Petroleum, coal, chemicals, and rubber
Other manufacturing and mining
Trade:
Wholesale
Retail
All Dis- .
tricts £/ Boston
New
York
St.
Phila- Cleve- RichChicago Louis
Atlanta
land
mond
delphia
(in millions of dollars)
.2
+ 2.0
+ 5-0
+ .2
+ .8
14.9
20.2
+ 5.6
+6.6
+ .9
+ .1
- 8.8
-20.9
- 2.3
-1.1
+ .2
- •3
(
ll.kj
("
-1.2
-1.3
- 2.1
+ 1.2
+ .1
- .9
1.3
.2
+
+
19.0
8.1
-
.4
•3
8.1
+ 1.8
+ 1.0
+ .5
- «7
- .9
+ »1
+12.3
+ 1.2
+ .1
+ •5
- .3
+ .4
-1.2
- .2
+ 1.8
+ .1
+ 4.9
+ 1.4
- .2
- .6
+1.4
-
- 6.6
—.1
+ .6
+ .2
- .4
+ .4
+ .3
+ 2.3
+ 2.7
+ 4.8
- 2.7
+ 2.5
.8
.1
+ .2
-
+2.3
-
+ .2
+
-
- .2
-
.2
- •2
.9
.7
.7
.7
.6
+ .1
(
("
•
9
+
> :
3.6
.4
.8
.4
+ 1.7
+8.8
+1.8
+ .1
+ 9.4
+ 4.2
+3.6
+11.7
+1.5
+2.5
-3-3
+ 1.5
+ 1.4
.1
-1.7
- 8.5
+ .4
- -
.5
+ .3
- 2.0
+1 • 4
-
+
+16.1
+5-5
2.1
+14.0
Commodity dealers
+ 55-5
-
.9
+26.9
-1.5
+ 2.2
+2.8
Sales finance companies
+ -66.3
+1.6
+21.1
+4.8
+18.0
+1.9
Public utilities (including transportation)
+ : 4.5
+ .1
+10.5
+ .2
+ 3.2
-
Construction
-
8.2
+ .1
- 6.2
+ .2
-
.4
-
All other types of business
+ 25.0
-2.6
+25.3
+1.9
+
.6
Net change in classified loans l/
+129-3
+3.2
+51.7
+4.6
Unclassified changes - net
+
1.7
+1.8
+ 2.3
-
-
Net change in commercial and
industrial loans
+131.0
+5.0
+54.0
+4.0
.6
San FranMinne- Kansas
apolis City Dallas cisco p/
-
.1
--
+
•5
+
.3
- -
- .2
+ .7
-
.5
-7
+ .7
+ .2
-
-
4.8
+ 2.7
+2.4
+10.3
+9.8
+4.0
-6.0
+11.9
+15.8
-2.5
-r . 6
-
-
-2.0
-1.0
+
.1
+ 6.2
+3.0
+3-0
+10.0
+2.0
-7.0
+12.0
+22.0
.6
.3
.8
+9-0
.5
p/ Preliminary; final totals will appear in the F. R. Bulletin and San Francisco District final figures appear in a release of the Reserve Bank.
1/ About 210 weekly reporting member banks are reporting changes in their larger loans as to industry; these banks hold over 90 per cent of total
commercial and industrial loans of all weekly reporting member banks and nearly 70 per cent of those of all commercial banks.
Digitized I
for FRASER
H.12(b)
CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY
Business of Borrower
Manufacturing and mining:
Food, liquor, and tobacco
Textiles, apparel, and leather
Metals and metal products (including machinery
and transportation equipment)
Petroleum, coal, chemicals, and rubber
Other manufacturing and mining
4 weeks
ended
July 25, 1956
4 weeks
4 weeks
ended
ended
June 27, 1956
July 27, 1955
(In millions of dollars)
12 months
ended
July 25, 1956
-100.4
+ 28.6
+
+
25.3
61.6
- 64.7
+ 28.0
+
+
-120.6
+ 64.0
+ 75-3
+
+
+
395-9
170.2
105.9
- 46.0
+ 17.6
+ 29.1
+1,511.3
+ 679.0
+ 478.6
3.6
-
35.4
+ 29.6
+
464.7
Commodity dealers
+141.6
-
95.9
+ 65.8
+
158.6
Sales finance companies
-203.7
+
59.4
- 36.5
+
215.6
Public utilities (including transportation)
- 28.1
+
221.9
+
1.7
+
362.2
Construction
- 15.5
+
23.6
+ 35.5
+
109.5
All other types of business
+ 23.6
+
86.4
+ 64.8
+
477.7
Net change in classified loans l/
-138.8
+1,018.9
+124.9
+4,909.6
Unclassified changes - net
- 90.2
+
63.1
- 99.9
32.6
Net change in commercial and
industrial loans
-229.0
+1,082.0
+ 25.O
+4,877.0
Trade -- wholesale and retail
142.5
309.9
Loans reclassified on October 5
+
Total
+5,195.0
1/ See footnote on preceding table regarding current coverage.
318.0
@FedFRASER