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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) December 14, 1955 CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY Increases of $96 million in loans to sales finance companies, $22 million to manufacturers of metals and metal products, and $21 million to manufacturers of food, liquor, and tobacco products were the principal factors in the $103 million increase in commercial, industrial, and agricultural loans at weekly reporting member banks during the week ended December 7. Partly offsetting decreases included $29 million in loans to public utilities and $12 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products. The increase in loans to manufacturers of metals and metal products was the sixth consecutive weekly increase in this business category; these loans have increased by $101 million since the middle of the year as compared with a decrease of $565 million during the corresponding period last year. 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 Cumulative since mid-year Week June 29, 1955 June 3a, 1954 ended . to . to Dec. 7—' Dec. 7, 1955^ Dec. 8, 1954 (In millions of dollars) " + 21 8 + 22 - 12 + 1 - + + + + + 439 62 101 l4l 56 +473 - 21 -565 + 84 - 52 + + + + + + 373 479 319 29 99 307 +204 +506 -159 -293 + 75 +160 Trade — wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction Other types of business + 2 + 4 + 96 Classified changes - net Unclassified changes - net + 89 + 14 +2,405 107 +411 - 40 Net change in commercial, industrial, and agricultural loans Loans reclassified on October 5 +103 +2,298 + 318 +371 - 29 3 5 Total +2,6l6 p/ Preliminary; seefootnote on attached table. In addition to the weekly table, a monthly table is attached showing changes during November compared with the preceding month and with November 1954, and also showing changes during the past twelve months. All industrial classifications except manufacturers of textiles, apparel, and leather products increased their borrowings in November, More than one-third of the increase in total classified loans during the month was to sales finance companies; these loans have accounted for about one-fourth of the increase in classified loans during the past year. 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, DECEMBER 7, 1955 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 mimitig Trade: Wholesale Retail All DisNew Phila- Cleve- RichSt. Minne- Kansas San Frantricts P/ Boston York delphia land mond Atlanta Chicago Louis apolis City Dallas cisco P/ (In millions of dollars) +20.9 - 7.6 + 2.3 +12.2 + .9 1.0 - 5.8 - 1.3 + 2.3 + 1.0 + .7 + .1 - .6 . .7 + 4.4 +21.6 -12.1 + 1.0 - 1.9 + 9.3 - 1.6 + .6 + .8 + •3 + .6 + 3.2 - .1 +10.4 - .1 + — — 3.1 - .3 + .1 + .4 .9 .2 + 6.5 - 9.6 - .1 + + • 9 + .2 - 2.2 .8 - .1 + 1.5 + 1.3 + 1.6 - (.+22 ,) 3 < ') - + .1 - .5 + .2 - 1.2 + •3 .8 - «• * - + - + + - 2.4 .8 • .4 + 1.3 - 1.2 .1 + .1 mm mm • .8 - 1.0 + .1 - .1 .3 - .2 + - .9 + 1.5 - .8 + .4 + Commodity dealers + 3*8 + 1.5 - 1.9 - .2 + .4 + 1.3 - 1.4 + 2.3 + Sales finance companies +96.2 + 7.4 +38.9 +10.1 + 6.8 + 4.1 + 1.2 +13.8 - .1 + 2.1 + Public utilities (including transportation) -28*7 - 4.7 .4 - 9.2 - Construction - 2.8 .8 + 1.6 .8 - .3 All other types of business - 5 #3 .8 -13.2 + .2 + Net change in classified loans 1/ +89.3 + 7.0 +34.2 + 8.0 Unclassified changes - net +13.7 + 3.0 -12.2 Net change in commercial, industrial, and agricultural loans +103.0 : - 1.3 - 8.0 - .5 + -- .4 - 1.5 .3 -- +10.0 +22.0 + 8.0 - - .1 + + 3.0 + .7 + 2.9 + 4.3 - .6 - 2.1 + .1 - 3.3 + ~ .6 .2 .9 .3 + .2 .2 + .1 .9 .5 .8 ( .3 r •7) + 1.1 • mm mm + .9 - 3.4 7) - .7 .2 + 3.1 .9 + 2.1 + 8.9 .2 + .1 - 1.0 .2 + - 1.8 .3 -- .4 - .9 + 3.0 1.0 +12.7 .9 +10.0 - 3.7 .9 - 5.0 - .9 + 5.0 +26.3 +12.0 + 8.0 + 6.0 + 5.0 - 6.0 - 7.0 + 2.0 + 4.0 +39.0 +14.2 + 6.6 + 5.1 - 2.2 + 1.4 + • 4.9 + 1.1 2.3 - 2.1 + - 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. l/ About 210 weekly reporting member banks are reporting changes in their larger loans as to industry; these banks hold over $0 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. H.12(b) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAi'ELE 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 5 weeks ended Nov. 30, 1955 4 weeks 4 weeks ended ended Oct. 2.6, 1955 Nov. 24, 1954 (In millions of dollars) +135.1 - 56.8 +160.5 - 54.6 + 88.2 + ?6.1 + 2.4 Trade — wholesale and retail 12 months ended Nov. 30, 1955 + - 130.3 44.3 11.7 + 258.8 .2 + 22.0 - 12.5 - 48.5 14.4 17.7 + 231.4 + 515.0 + 191.4 + 86.6 +162.5 + 29.9 + 448.9 Commodity dealers +108.2 +159.0 + 130.5 Sales finance companies +314.5 -204.3 + 63.0 +1,039.5 Public utilities (including transportation) + 73.4 -108.7 + 13.1 + 487.7 Construction + 21.7 + 16.5 + 24.3 + 248.6 All other types of business + 49.3 + 40.0 + 49.7 + 424.6 Net change in classified loans l/ +898.7 +180.2 + 315.9 +3,927.1 Unclassified changes - net - 8.7 - 34.2 + 773.1 - 363.1 Net change in commercial, industrial, and agricultural loans +890.0 +146.0 +1,089.0 +3,564.0 + 92.9 Loans reclassified on October 5 +318.0 + 318.0 Total +464.0 +3,882.0 ]./ See footnote on preced?r.g table regarding current coverage.
@FedFRASER