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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM H.12 (For Immediate Release) January 23, 1957 CHANGES IN COMMERCIAL AMD INDUSTRIAL LOANS BY INDUSTRY Net decreases of $82 million in loans to sales finance companies, $36 million to "other" types of business, $28 million to manufacturers of food, liquor, and tobacco products, $20 million each to the wholesale and retail trade and to commodity dealers, and $42 million to unclassified borrowers were partly offset by increases of $51 million in loans to manufacturers of metals and metal products, $10 million in "other" manufacturing and mining, and $9 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products. The net decrease in commercial and industrial loans at weekly reporting member banks during the week ended January 16 was $155 million. The increase in loans to manufacturers of metals and metal products, following three weekly decreases, was largely in the New York and Chicago Districts, 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 Cumulative since mid-year June 27, 195& June 29, 1955 Week ended / t o / to Jan. 162/ Jan. l6, 1957£/ Jan. l8, 195& (In millions of dollars) Manufacturing and mining: Food, liquor, and tobacco Textiles, apparel, and leather Metals and metal products Petroleum, coal, chemicals, & rubber Other manufacturing and mining + + + + 28 2 51 9 10 Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business + - + 640 34 114 + 467 + 54 + 389 + 78 + 286 + 242 + 74 20 20 82 7 7 36 4 + + 705 28 + 437 91 + 123 + + + + + + Classified changes - net Unclassified changes - net -113 - 42 +2,162 408 - +2,804 1/ - 272 Net change in commercial and industrial loans -155 +1,754 1/ +2,532 - • 269 440 528 91 107 301 jd/ Preliminary; see footnote on attached table. 1/ 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 AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, JANUARY l6, 1957 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 FranSt. Minne- Kansas New Phila- Cleve- RichAll Dis- . Dallas cisco P/ Atlanta Chicago Boston Louis apolis City tricts Rf York delphia land mond (In millions of dollars) - 27.7 + 2.3 .6 - 7-7 + 1.9 - 3.9 + 2.6 -3.3 + .5 + 51.2 + 8.7 + 9-7 - 2.3 +24.8 - 1.3 + 5-2 + .9 + 7.5 + + -10.7 -4.6 — .6 — -f • 1 +5.2 .6 .3 + .6 + .4 .8 - 2.2 - 1.1 - .8 + .9 +3.8 .2 +1.6 .4 +1.1 + - .2 - 2.3 - .2 - 1.3 +25.5 + 5.3 + 2.8 - .4 + -5 + .3 +1.4 + .6 - .1 - .3 + .4 + .2 .8 - 1.2 - 1.4 - 1.1 - 1.1 + .2 — - .4 — -9 .4 + ( n n o) ^19*#^ + .8 - 1.7 .8 - 7.5 - .6 -1.7 - 1.5 - .1 • - #1 .5 + .8 .3 - 2.1 - .8 -1.3 — .2 + .8 + .5 + .2 t 1-6 l 6 ) - 3.1 + 2.1 .3 .6 -11.3 - .1 +1.4 - .2 - 2.2 - 1.4 + .7 +2-3 - 2.1 - 2.4 - 3.8 < ) Commodity dealers - 19.7 - Sales finance companies - 81.5 - 5.6 + 6.8 -15.I -9*6 - 2.9 - 5-2 -25.4 - .3 + .8 - 4.4 - 3.9 -16.7 Public utilities (including transportation) + 7-1 + 1.1 - 4.5 + .1 +2.7 + .9 + .2 + 5.1 + .3 + .4 + .2 - .1 + .7 Construction - + .4 + 1.1 - 1.9 - .6 - .1 - .2 - 1.0 - .6 -2v0 - .1 - 2.0 - .1 All other types of business - 35-9 - 5.5 -20.7 - 3.4 + .3 - 3.2 - .7 - 2.7 + .9 + .6 - .2 - .7 - .6 Net change in classified loans l/ -112.7 -11.6 -11.9 -18.8 -3.9 - 7.8 -12.9 - 5-3 +1.6 - 9.4 -12.6 -23.7 Unclassified changes - net - 42.3 - 4.4 -18.1 — 1.2 • * 1 - 5.2 - .1 - 4.7 -1.6 - .6 Net change in commercial and industrial loans -155.O -16.O -30.0 -20.0 -4.0 -13.0 -10.0 7.1 -13.0 +3* 6 +3.0 — 2,6 + 5.6 - 9.3 -12.0 - 7.0 -33.0 " 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 %0 per cent of those of all commercial banks.
@FedFRASER