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f BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) December 26, 1956 CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY Loans to sales finance companies accounted for over half of the $445 million increase in commercial and industrial loans at weekly reporting member banks during the week ended December 19. The increase was the largest in this classification since the series was inaugurated in the spring of 1951. Other large increases were $83 million in loans to manufacturers of metals and metal products and $57 million in loans to manufacturers of food,liquor, and tobacco products. The only decreases were $54 million in loans to manufacturers and producers of petroleum, coal, chemicals and rubber products and $38 million to the wholesale and retail trade. Changes in loans during the week and since 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 mince mid-year Week June 27, 1956 June 29, 1955 ended . to . to Dec. 19E/ Dec. 19, 19562/ Dec. 21, 1955 (in millions of dollars) + 57 + 9 + 83 - 54 + 3 - 820 4 66 431 84 + + + + + 503 91 211 177 66 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business - 38 + 24 +256 + 35 + 3 + 35 + 235 721 90 + 329 53 175 + + + + + 379 484 588 51 116 332 Classified changes - net Unclassified changes - net +413 + 32 +2,589 191 +2,894 1/ 86 Net change in commercial and industrial loans +445 +2,398 1/ +2,808 + + + + p/ Preliminary; see footnote on attached table. l/ Prior to 1956, unclassified changes and total net change included changes in agricultural loans. These 1955 figures do not include the increase of $318 million resulting from the reclassification of loans on October 5* H.12(a) CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY Aim FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, DECEMBER 19, 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 All DisNew Phila- Cleve- Richtricts P / Boston York delphia land mond Atlanta Chicago (In millions of dollars) + 57.2 + 9.0 - .6 - .9 + 4l.O + + 9.9 - + 83.O - 53-8 + 3-2 +2.9 -7.4 + *3 37 8 -l Commodity dealers -9 + .5 - .9 + 2.0 + 2.7 Mi are-iKansas San Franapelis | City Dallas cisco .4 + 5.1 + 1.7 + -9 + .4 + .9 + - + 53.5 - 2.4 + 5.3 - 34-5 - 3.0 + 1.3 + 7-4 + 2.9 - .8 - + 1.1 + .5 .2 - -5 +16.5 + 3.1 -13.3 - 2.6 - 1.4 - .4 +2.2 + -7 -1.2 + .1 + .7 + 3.0 +1.5 - 2-7 - .2 NOT -1.0 -1.2 - 2.0 + 1.0 + - 23.2 + 1.0 - 1.9 - .5 + 1.2 .1 + .3 - 3-5 - 1.4 - 3.7 - 3.2 -1.4 - .1 + -8 r -6) AVAIL- + 24.2 + .4 + 26.0 + .5 + - -5 - 1.6 + -5 + Sales finance companies +255,5 +1.8 +125.4 Public utilities (including transportation) + 34.6 +1.1 + 19-3 + 4.0 + 3.8 Construction + 2.8 + .1 + All other types of business + 34.9 +1.5 + Net change in classified loans l/ +412.8 -3.0 +230.9 Unclassified changes - net + 32.2 +6.0 - Net change in commercial and industrial loans +445.0 +3.0 +229.0 Trade: Wholesale Retail c .4 + .9 - 1.3 + +12.0 +16.2 5-3 - 1.1 + .3 - .1 +61.7 +15-5 +7.8 + 5.6 +2.3 + .2 + 1-9 + 3.0 + 1.0 + .4 + .5 + .4 + 1.4 - 3-4 + .3 - .8 -1.0 +14.7 - .4 - .2 + +76.1 +12.4 +8.8 + 7.8 +7.2 + 2.9 + 1.6 - .8 + 4.2 -2.2 +26.0 +79.0 +14.0 +8.0 +12.0 +5.0 +26.0 +29.4 + 9.9 +16.7 1.9 - 3-6 +13.0 . 2 -1.0 + 3.6 + 3.6 .8 + 3.9 + 4.8 + 2.7 + 4.8 +I6.6 .9 +1.7 .3 .4 + 1.1 - .7 +29.0 +11.0 +16.0 .3 - .4 ABLE +1.1 .2 +2.1 p/ Preliminary; final totals will appear in the F. R. Bulletin and San Francisco District 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.
@FedFRASER