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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM March 13, 1957 (For Immediate Release) H. 12 CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS BY INDUSTRY Net increases of $8l million in loans to sales finance companies, $50 million to manufacturers and producers of petroleum, coal, chemicals, and rubber products, and $42 million to manufacturers of metals and metal products were the principal factors in the $136 million increase in commercial and industrial loans at weekly reporting member banks during the week ended March 6. Partially offsetting decreases included $20 million each in loans to commodity dealers and to "other" types of business. Changes in loans during the week and since year-end are shown below; the third column shows the changes during the comparable period last year: Week ended , Business of Borrower Mar. 6£/ Manufacturing and mining: + Food, liquor, and tobacco + Textiles, apparel, and leather + Metals and metal products + Petroleum, coal, chemicals, & rubber+ + Other manufacturing and mining Trade--wholesale and retail Commodity dealers Sales finance companies Public utilities and transportation Construction All other types of business - 6 17 42 50 18 1 - 20 + 81 - 13 - 7 - 20 Cumulative since year-end Dec. 2^7"195$ Dec. 28, 1955 to , to Mar. 6, 1957&/ Mar. 7, 1956 (In millions of dollars) -338 + 78 -238 + 23 + 38 +140 -206 -162 + 3 - 44 -504 +160 - 75 + 37 - 53 + 73 +368 +105 + 90 -161 - 29 - 85 Classified changes - net Unclassified changes - net +150 - 14 -660 -181 -120 - 82 Net change in commercial and industrial loans +136 ~84L -202 p/ Preliminary; see footnote on attached table. in addition to the usual weekly table, a monthly table is attached showing Changes during February compared with the preceding month and with February 95 > veil as changes during the past twelve months. As in 1956, the net increase in commercial and industrial loans during February was relatively small in comparison with the January net decreases. In e industrial categories, the increase in loans to manufacturers of metals and metal to a substantial decrease during the corresponding month a year ago. CHANGES IN COMMERCIAL AND INDUSTRIAL LOANS OF A SAMPLE OF WEEKLY REPORTING MEMBER BANKS BY INDUSTRY AND FEDERAL RESERVE DISTRICT, WEEK ENDED WEDNESDAY, MARCH 6, 1957 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 All Dis- Boston New I Phila- Cleve- Rich- Atlanta Chicago St. Minne- Kansas Dallas San Francisco g/ Louis apolis City York |delphia land mond tricts £/ (In millions of dollars) 5-5 .4 —1.6 -3.1 + .1 + 11.5 -1.0 +3.8 +1.6 - .4 +1.2 + 41.6 +1.0 + 10.8 +4.9 + .8 + 44.9 +3.2 +1.8 + 6.0 + .1 -1.2 - .4 + .7 + .2 - •3 + + 16.5 + 50.1 + IT-5 j. +1.8 + 1.4 + 1.2 +7.0 + .1 -1.0 +1.7 +17-3 - .3 + 5.5 +2.2 + -7 +1.7 +1.2 + '5 +1.1 +1.1 -1.2 + .2 +1-9 - .2 - 2.7 + -7 - .8 +1.6 + 3.7 - .3 + 2.0 - .9 -2.4 + 8.1 2.9 + .1 - .2 +2.7 - .4 +3.5 -1*7 + .6 + 1.2 + 2.9 +1.1 + .3 + .8 - .8 - .2 :l:i ( .6 c Commodity dealers — 20.4 - .4 - 6.8 - .5 - '7 - .8 —- + 1.1 -3.0 + .2 - .3 -3.6 - 5.6 Sales finance companies + 8I.4 +8.2 + 68.0 +2.9 - .1 -2.7 - - +16.2 -3.0 -1.3 + .4 + .7 - 7.9 Public utilities (including transportation) - 13.4 +1.5 - 6.8 - .8 - .7 -2.9 +5.2 - 2.0 - .4 + .2 + .1 + .9 - 7.7 Construction - + .2 - .4 - .7 - .2 -1.8 - 2.3 - .6 +2.4 - .5 -3.5 + All other types of business - 20.4 __ - 4.7 - .1 -3.5 + .9 - 6.2 -2.0 + .6 + .4 -2.3 - 3-5 +36.0 +4.1 +3.4 -3.5 -6.0 -21.8 - .1 + .6 +1.5 +4.0 +4.0 -2.0 7-3 Net change in classified loans 1/ +149.7 46.8 +116.9 +6.4 +4.8 -6.3 +8.9 Unclassified changes - net - 13.7 + .2 - 22.9 +1.6 - .8 - .7 + .1 Net change in commercial and industrial loans +136.0 +7.0 + 94.0 +6.0 +4.0 -7.0 +9.0 +36.0 - - -6.0 .1 + 6.8 -15.O p/ Preliminary; final totals will appear in the F. B. Bulletin and San Francisco District final figures appear in a release of the Reserve Bank. Ab ~i:rs :c:%i%:: z: s w v r M centof E.12(b) CHARGES 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 Feb. 27, 1957 5 weeks 5 weeks ended ended Jan. 30, 1957 Feb. 29, 1956 (In millions of dollars) 12 months ended Feb. 27, 1957 j 1 ! j + + 409.8 239.9 - 89.5 + 84.1 - 254.1 - 22.9 -120.3 + 48.1 +137.8 - 44.7 + 41.8 - + - 19.k 17.6 21.3 +249.8 + 45.2 + 59.3 +1,093.2 + 731.8 + 392.6 Trade — wholesale and retail + 28.7 - 233.3 + 56.6 + Commodity dealers - 7^.2 - + + 241.0 Sales finance companies + 30.4 - 186.4 -257.2 + Public utilities (including transportation) - 50.1 + 100.1 + 13.0 + 686.8 Construction - 8.1 - 37.6 - 29.1 - All other types of business - 33.1 - 107.8 + 1.7 + 263.9 Net change in classified loans l/ + 23.1 - 832.7 + 75.3 +4,288.8 Unclassified changes - net + 31.9 - 199.3 + 44.7 - 213.8 Net change in commercial and industrial loans + 55.0 -1,032.0 +120.0 +4,075.0 l/ See footnote on preceding table regarding current coverage. 67.6 8.2 155.9 98.6 24.7
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