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BOARD OF GOVERNORS OP ZEE FEDERAL RESERVE SYSTEM /K. (For Immediate Release) H.12 January 11, 1961 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Commercial and. industrial loans decreased in nine districts and a net of $177 million at all reporting member banks during the week ended January 4. The principal net decreases were $114 million in loans to manufacturers of metals and metal products, $78 million to the wholesale and retail trade, $37 million to "other" manufacturing and mining concerns, and $6l million to unclassified borrowers. The decrease in loans to manufacturers of metals and metal products was the largest weekly decrease since July i960. The larger offsetting net increases were $70 million in loans to public utilities and $$4 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products. Changes in loans during the week and since mid-year are snown below; the third column shows the changes during the comparable period last year. Business of Borrower Week ended , Jan. 4^' Cumulative since June 29, i960 mid-year July 1, 1959 Jan. 4, 1961^/ Jan. 6, i960 (In millions of dollars) Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, and rubber Other manufacturing and mining - 14 - 3 -ll4 +565 + 54 - 37 Trade—wholesale and. retail Commodity dealers Public utilities and transportation Construction All other types of business + + Classified changes - net Unclassified changes - net Net change in commercial and industrial loans to + - 636 69 184 +113 - 66 + + 209 10 78 21 70 7 33 -104 +486 + + + 150 -116 - 61 +499 l/ "377 +1,908 1 / - 236 -177 r/ +122 r/ +1,672 -218 -779 +131 + 28 +342 - - 723 477 19 25 jg/ Preliminary r/ Revised In addition to the weekly table a monthly table -is attached showing changes during December compared with the preceding month and with December, 1959> and also showing changes during the past twelve months. All industrial classifications except manufacturers of textiles, apparel, and leather products, and the wholesale and retail trade showed net increases in loans in December; the pattern of changes was the same as in December, 1959-' The current monthly increase in loans to manufacturers and producers of petroleum, coal, chemicals, and rubber products was the largest monthly increase in this category since September, 1959* During the 12 months period ended December 28, i960, total commercial and industrial loans increased $1,4-76 million compared with an increase of $2,732 million for the corresponding period of 1959 (iffAiyftiBfl UJ CO&MERCIAL AND INDUSTRIAL LOAMS OF A SAMPLE OF WKFXI.Y REPORTING MEMBER BAMS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, JANUARY 4, I96I H.12(a) 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 San Fran St. Minne-1 Kansas T_ All bis- . 7 I Nev iPhila- ICleve-1 Rich- Atlanta Chicago Loid.g apolisj City |Da-LLasl cisco j?/ tricts J1/ Boston j Yoxk |delphia| land I mond (In millions of dollars) + + -5 — 2.1 - 1.9 - 3-1 - 5 . 2 -10.8 -1-3 +1.7 +2.3 + 4.0 -125.5 + - 37.1 - 2.8 - .4 + 8.8 +12.6 -15.5 +5.0 - .6 -113.8 + 54.2 - - 1.3 - .6 — 2,4- .1 + -5 - -5 +1.4 + - - 1.2 — .1 - 2.1 .1 - 10.7 " 1.2 - 1.3 - 1.5 - 2.8 — 4.0 - 3-5 - 13.9 4.5 .8 + 31.7 + 3.8 — 6.3 -1.6 -1.0 - .6 + 8.4 - -7 +1.6 + .5 - 2.9 -10.1 + 2.2 -I.9 - 2.5 - 3*6 -7 + 5.2 + .4 — *2 - 6.8 + 1.9 + 1.1 1.0 - 2.1 - 2.0 +1.0 - .7 - 3-0 - 1-3 - Public utilities (including transportation) + 70.1 + 3-7 + 63.4 - Construction - — All other types of business + 32.7 + 6.8 + 15.2 — 1.8 - 4.9 +2.8 +3.9 + 2.2 Net change in classified loans l/ -116.3 -22.7 ~3.6 +7.3 Unclassified changes - net — 60.7 - 1.3 + .6 Net change in commercial and industrial loans -177.0 -24.0 -3.0 r * C I I 111 I IICVI J ) X .Mia.1. w VOUL.O WXOML - 3-3 - - 20.7 JJf ) -' ) - 1.9 -2.3 Commodity dealers .5 - 2.8 - .9 + - 1.2 -1.9 .6 .4 4* 5.2 + 2.1 4- • 5 -5.8 + .7 — 10.4 — 1.6 + .4 [- 78.2j - 2.0 - 35.0 - 4.4 - 2.0 6.8 .1 - 2.6 .2 — • 2 - 1.9 -3 - .9 4-14.0 .6 -1.2 4* 1.0 — 6.3 4- 1.0 - -9 :d 4 + 1.6 - .6 + 2.3 — .6 — .3 + .4 + 1-7 + 2.6 - -3 - .4 + 5.5 + 1.1 2.7 -13.9 - -9 -7-fc + 9-6 + 2.3 - .3 5.3 - l.l -ll.l +1.4 - .6 -29.3 +7.0 8.0 •15.0 -12.0 -6.0 + 9.0 -27.0 w + .4 "*•* l/ About 200 weekly reporting member banks are reporting changes in their larger loans as to industry; these banks hold about 95 per cent of ™" total commercial and industrial loans of all weekly reporting member banks and about 70 per cent of those of all commercial banks. H.12(b) CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY Business of Borrower 4 weeks ended Dec. 28, i960 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 5 weeks ended Nov. 30, I960 5 weeks ended Dec. 30, 1959 .In millions of dollarsj 12 months ended Dec. 28, i960 +168.9 -101.0 +222.9 - 9.2 + + 20.9 58.2 9-1 - 58.2 + 96.7 + 68.9 + 6.3 + + + 397-1 + 14.6 + 10.5 - 75.5 Trade — wholesale and retail -267.0 +111.8 -307.4 + 345.9 Commodity dealers + 49.1 +162.6 +162.2 - 170.5 Public utilities (including transportation) +117.9 + 76.4 +162.0 + 13.3 Construction + i4.o - 13.1 + 26.9 + 130.9 All other types of business + 69.3 + 78.9 +102.4 + 464.3 Net change in classified loans 1J +120.0 +361.3 +531.7 +1,591.7 Unclassified changes - net + 62.0 r/ - 28.3 + 32.3 r/ - Bet change in commercial industrial loans +182.0 r/ +333.0 +564.0 r/ +1,476.0 + 57-3 - 41.7 + + 97.4 6.6 325.0 115.7 1/ See footnote on preceding table regarding current coverage and Note on first page regarding comparability with prior figures.
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