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' * FEDERAL RESERVE statistical release ,*2si&z.. February 29, 1988 Revision of G.7 Series Bank credit data in this issue of the G.7 release have been revised to reflect new benchmark and seasonal adjustments as well as revisions in data received from sample banks that report data weekly. The benchmark adjustments involve use of new blowup ratios derived from quarterly condition reports dating from June 30, 1986 through June 30, 1987 for all insured banks and all foreign-related institutions that are represented in the commercial bank universe. These blowup ratios are used in conjunction with the weekly reports from sample banks in estimating totals for the banking system as a whole. On balance, the revisions resulted in little net change in total bank credit growth in 1986, but they raised the estimated growth rate for 1987 by about fourtenths of a percentage point. Estimates of bank security holdings were lowered while estimates of outstanding total loans and leases were raised in 1986 and 1987. The revised estimates show lower levels of commercial and industrial loans and higher levels of real estate loans and loans to individuals. In this revision, data for loans to states and political subdivisions are seasonally adjusted for the first time. In general, month-to-month fluctuations in the seasonally adjusted data were smoothed somewhat by the new seasonal factors. Revised historical data and seasonal factors are available on request from the Division of Monetary Affairs, Board of Governors of the Federal Reserve System, Washington, D.C. 20551. FEDERAL RESERVE statistical release For immediate release G.7 (407) 1 LOANS AND SECURITIES AT ALL COMMERCIAL BANKS FBBRVABJ Averages of Wednesday figures, billions of dollars 1987 FEB. 1987 fiAK. 1987 APB. 1987 JUT 1947 JUNE 1987 J0LI 1987 106. 1987 SEPT 1987 OCT. 1987 HOY. 1987 DEC. 29, 1988 1988 JAN. SeasowalHy a r i j j w t e d 1. Total loans and securities 1 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 1'5. 16. 17. 1& 1#. U.S. government securities Other securities Total loans and leases2 Commercial and industrial Bankers acceptances held* Other commercial and industrial U.S. addressees' Non U.S. addressees4 Real estate Individual Security Nonbank financial institutions Agricultural State and political subdivisions Foreign banks Foreign official institutions Lease financing receivables AM other loans 2120.1 2130.7 2152.0 2166.0 2176.7 2181.3 2199.0 2214.7 2227.6 2232.1 2230.6 2242.0 314.7 192.0 1613.5 548.0 5.0 543.0 534.3 8.8 509.7 316.0 39.8 35.1 30.7 56.4 9.5 6.2 22.5 39.3 315.4 193.1 1622.3 546.2 4.7 541.5 533.2 8.3 517.1 316.9 40.1 35.4 30.2 56.6 9.1 6.9 22.7 41.2 318.1 194.4 1639.6 549.1 4.8 544.3 536.0 8.3 524.9 317.8 44.6 35.6 29.9 56.4 9.3 6.9 23.3 42.0 321.3 195.5 1649.3 551.9 4.8 547. 1 539.0 8. 1 532.6 319. 1 43.6 35.8 30.0 56.2 9.3 6.1 23.7 41. 1 321.3 195.9 1659.6 554.4 4.6 549.9 541.3 8.4 542.6 318.9 44.0 34.6 30.0 55.9 9.6 5.9 23.9 39.9 322.9 19 4 . 3 1664.1 553.6 4.5 549.1 540.8 8.4 549.6 319.7 43.9 32.9 29.8 55.3 9.0 5.7 23.9 40.5 328.5 193.7 1676.8 554.0 5.3 548.7 540.5 8.2 556.9 321.5 45.4 32.0 29.7 54.5 9.1 5.7 24.0 44.0 331.3 193.7 1689.9 559.0 5.4 553.6 545.6 8.0 561.7 322.9 46.1 31.8 29.6 54.5 9.2 5.7 24.1 45.2 331.7 194.2 1701.7 562.9 5.6 557.3 549.3 331.1 196.2 1704.8 563. 1 4.6 558.5 550.9 7.6 576.2 325. 0 39.3 32.3 29.4 53.4 8.9 5.7 24.5 47.1 333.2 196.0 1701.4 565.5 4.3 561.2 553.0 8.2 582.3 325.9 33.6 32.3 29.3 51.2 6.2 5.6 24.8 42.7 334.1 194.0 1713.9 568.5 4.5 564.0 555.0 8.9 586.9 327.8 36.6 32.0 29.4 52.1 8.3 5.7 25.0 41.6 8.Q 569.4 324.1 47.1 32. 1 29.6 54.1 9.6 5.9 24.3 42.7 Not seasonably adjusted 1. Total loans and securities2 2. 3. 4. 5. 6. 7. 8. 9. to. 11. 12. 13. 14. 1<5. 16. 17. 18. 19. 1. 2. 3. , 4. U;S. government securities Other securities Total loans and lease®2 Commercial amd imckretrial Bankers acceptances held 3 Other commercial and industrial U.S. addressees4 Non U.S. addressees4 Real estate Individual Security Nonbank financial institutions Agricultural State and political subdivisions Foreign banks Foreign official institutions Lease financing receivables All other loans 2124.0 2130.7 2153.1 2163.4 2173.7 2172.8 2188.8 2211.6 2222.4 2231.3 2247.0 2254.6 319.3 192.7 317.4 192.7 320.0 195.5 1647.9 554.4 4.8 549.7 541.4 318.4 195.3 555.7 5.5 550.2 542.1 331.0 195.6 1704.7 562.0 4.6 557.4 549.2 333.1 196.6 1717.3 569.6 4.4 565.2 557.0 335.6 196.7 1722.4 568.1 4.3 563.8 555.7 523.9 315.0 46.4 35.5 29.1 56.9 8.9 532.0 316.5 43.9 35.6 29.7 56.2 9.0 328.3 193.6 1666.9 549.5 5.3 544.2 535.9 8.3 556.8 321.5 *3.3 31.9 30.6 53.9 8.9 5.7 23.9 40.8 329.3 193.3 1699.8 558.7 5.4 553.3 545.2 516.4 313.8 39.6 34.3 29.2 57.6 9.0 322.1 193.0 1657.7 551.3 4.6 546.7 538. 1 8.6 54 9 . 7 318.4 43.3 32.7 30.5 54.5 9.0 5.7 23.9 38.7 331.3 193.8 550.7 4.6 546.1 537.9 318.0 194.0 1641.1 552.8 4.8 548.0 539.9 562.4 324.3 44.8 32.3 30.7 53.7 9.5 5.7 24.0 43.6 570.0 325.7 45.6 32.2 30.4 53.2 9.8 5.8 23.9 44.4 576.8 326 . 7 39.4 32.7 29.6 52.3 583.2 330.2 35.3 33.6 29.1 51.2 5.7 24.2 46.4 5.6 24.8 46.2 587.3 331.2 37.5 32.3 28.7 53.9 8.5 5.7 25.2 44.1 1612.0 547.3 5.0 542.3 533.8 8.5 509. 1 315.4 38.4 34.1 29.7 57.8 9.8 6.2 22.7 41.5 1620.6 8.1 6.8 22.9 40.3 8.2 6.8 23.5 42.4 8.2 6. 1 23.8 40.7 1660.0 555.9 4.7 551.2 542.7 8.5 542.4 316.9 45.4 34.7 30.3 55.5 9.5 5.9 24.0 39.6 Data are prorated averages of Wednesday estimates, based on weekly sample reports and quartely universe reports. Exludes loans to commercial banks in the U.S. Includes nonfinancial commercial paper held. U.S. includes the 50 states and the District of Columbia. 1686.6 8.2 8.1 8.2 8.8 8.2 8.6 8.1 G.7 (407)A LOANS AND SECURITIES AT DOMESTICALLY CHARTERED COMMERCIAL BANKS Averages of Wednesday figures, billions of dollars 1987 MAR. 1987 AP * . 1. Total loans and securities 1999.8 2006.2 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. U.S. government securities Other securities Total loans and leases Commercial and industrial Bankers acceptances held Other commercial and industrial U.S. addressees Non-U.S. addressees Real estate Individual Security Nonbank financial institutions Agricultural State and political subdivisions Foreign banks Foreign official institutions Lease financing receivables All other teams 305.4 179.3 1515.2 475.2 2.6 472.7 469. 1 3.6 501.7 315.7 36.6 30.1 30.7 56.4 5.9 3.6 22.5 36.7 1987 SEPT 1987 OCT. 1987 NOV. 1987 DEC. 2059.1 2071.0 2082.1 2085.7 2082.8 20,89.0 317.4 179.1 1562.5 468.2 2.4 465.8 462.6 3.3 547.3 321.2 42.5 26.9 29.7 54.5 5.2 3.2 24.0 39.8 319.7 179.6 1571.7 471.2 2.4 468.8 465.7 3. 1 551.7 322.5 43.1 26.8 29.6 54.5 5.3 3.1 24.1 39.8 320. 7 179.8 1581.6 473. 1 2.3 470.8 467.8 3.0 559.5 323.8 44.3 27. 1 29.6 54. 1 5.5 3.2 24.3 37.2 319.6 181.7 1584.4 474.0 2.2 471.9 469. 1 2.8 566.0 324.7 36.6 27.2 29.4 53.4 5.0 3. 1 24.5 40.5 322.3 181.0 1579.4 474.0 2.0 472.0 470.0 2. 1 571.3 325.6 31.5 27.5 29.3 51.2 4.4 2.9 24.8 37.0 323.3 177.6 1588.1 475.3 2.2 473.1 470.0 3.1 575.7 327.5 34.b 26.9 29.4 52.1 4.6 2.9 25.0 34.1 2051.7 2067.3 2077.9 2084.8 2094.7 2099.8 317.9 178.8 1555.0 465.3 2.3 463.1 460.0 3.1 547.3 321.2 40.7 27.0 30.6 53.9 5.0 3.2 23.9 36.8 320.1 179.4 1567.8 467.3 2.3 465.0 462.0 3.0 552.5 324.0 41.7 27. 1 30.7 53.7 5.3 3.1 24.0 38.6 318.5 178.5 1580.9 469.8 2.3 467.5 464.4 3.0 560.1 325.4 43.0 27.0 30.4 53.2 5.5 3.2 23.9 39.5 319.9 181.0 1583.8 472.6 2.3 470.3 467.3 3.0 566. 6 326.4 36.9 27.5 29.6 52.3 4.9 3. 1 24.2 39.6 322.1 181.6 1591.0 476.0 2.1 473.9 470.9 3.0 572.2 329.9 32.6 28.2 29.1 51.2 4.6 2.9 24.8 39.5 324.5 180.4 1595.0 474.2 2.1 472. 1 469.0 3. 1 576.0 330.9 35.1 27. 1 28.7 53.9 4.8 2.9 25.2 36.3 1987 1987 AUG. JULY SeasomaMy adjusted 1987 MAY 1987 JUNE 2020.7 2033.5 2042.0 2044.9 305.6 179.9 1520.7 471.8 2.4 469.4 465.9 3.5 509.2 316.4 37.0 30.3 30.2 56.6 5.5 3.7 22.7 37.3 308.4 180.7 1531.7 471.3 2.4 468.8 465.5 3.4 516.5 317.5 40. 1 30.6 29.9 56.4 5.3 3.5 23.3 37.3 311.4 180.8 1541.3 471.7 2.4 469.3 465.8 3.5 524.0 318.8 39.7 JO.7 30.0 56.2 5.3 3.4 23.7 37.8 311.5 180.8 1549.7 471.5 2.3 469.1 465.6 3.5 533.7 318.6 41.0 29.7 30.0 55.9 5.4 3.3 23.9 36.9 312.5 179.6 1552.8 46 9 . 6 2.3 467.3 46 4. 1 3.2 54 0 . 5 319.4 41.0 28.0 29.8 55.3 5. 1 3.2 23.9 37.0 2003.1 2004.6 2021.8 2032.5 2040.0 2039.0 309.4 180.2 1513.5 474.7 2.6 472. 1 468.4 3.7 501.1 315.1 35.2 29.5 29.7 57.8 6.1 3.6 22.7 37.9 307. 1 179.6 1517.9 474.8 2.5 472.3 468.9 3.4 508.4 313.5 36.4 29.5 29.2 57.6 5.4 3.7 22.9 36.4 30 8. 1 180.7 1532.9 474.7 2.3 472.4 469.1 3.3 515.6 314.6 41.9 30.4 29.1 56.9 5. 1 3.5 23.5 37.6 310.0 181.1 1541.4 475. 3 2.4 472.9 469.7 3.2 523.4 316.2 40.4 30.6 29.7 56.2 5.1 3.4 23.8 37.3 308.5 180.5 1551.0 473.4 2.4 471.0 467.9 3. 1 533.5 316.6 42.5 29.9 30.3 55.5 5.4 3.3 24.0 3b. 6 312.3 178.1 1548.6 468.7 2.3 466.4 46 3 . 4 3.0 540.5 318.0 40.7 27.8 30.5 54.5 5.1 3.2 23.9 35.7 1987 FEB. 1988 JAN. Not seasonally adjusted 1. Total loans and securities 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. #. 1. 2. 3. 4. U.S. government securities Other securities Total k>ans and leases Commercial and industrial Bankers acceptances held3 Other commercial and WwsBrial U.S. addressees4 Non-U.S. addressees4 Real estate Individual Security Nonbank financial institutions Agricultural State and political subdivisions Foreign banks Foreign official institutions Lease financing receivables AM either loams Data are prorated averages of Wednesday estimates for domestically chartered insured banks, based on weekly sample reports and quarterly universe reports. Exludes loans to commercial banks in the U.S. Includes nonflnancial commercial paper held. U.S. includes the 50 states and the District of Columbia. G.7 (407)8 LOANS AND SECURITIES AT FOREIGN-RELATED INSTITUTIONS1 1967 FES. 1. Total loans and securities1 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. U.S. government securities Other securities Total loans and leases* Commercial and industrial Bankers acceptances held' Other commercial and industrial U S. addressees4 Non-U.S. addressees4 Real estate Individual Security Nonbank financial institutions Agricultural State and political subdivisions Foreign banks Foreign official institutions Lease financing receivables All other loans* 1987 NIK. 1987 APR. 1987 EAI 1987 JOSE 1987 JOLT 1987 AOG. 1987 1987 SEPT OCT. 1987 •Of. 1987 DEC. 1988 j a a. Seasonally adjusted 120.3 124.5 131.3 132.6 134.8 136.4 139-9 143.7 145.5 146.4 147.9 153.0 9.3 12.7 98.3 72.8 2.5 70.4 65.2 5.2 8.0 0.3 3.3 5.0 9.8 13.2 101.5 74.3 2.2 72.1 67.3 4.9 8.0 0.3 3.1 5.1 9.7 13.? 107.9 77.8 2.4 75.4 70.5 4.9 8.3 0.3 4.5 5.1 9.9 14.6 108.0 80.2 2.4 77.8 73.2 4.6 8.6 0.3 3.8 5.1 9.8 15.1 109.8 82.9 2.2 80.7 75.7 5.0 8.9 0.3 3.0 4.9 10.4 14.7 111.3 84. a 2.2 81.8 76.6 5.2 9.2 0.3 2.8 4.9 11.1 14.5 114.3 85.8 3.0 82.9 78.0 4.9 9.5 0.3 2.9 5.0 11.6 14.0 118.1 87.8 3.1 84.8 80.0 4.6 9.9 0.3 3.0 5.0 11.0 14.* 120.1 69.8 3.2 86.5 81.5 5.0 9.9 0.3 2.8 5.0 11.5 14.5 120.4 89.1 2.5 86.6 81.8 4.8 10.2 0.3 2.7 5.1 10.8 15.0 122.0 91.5 2.3 69.2 83.0 6.2 11.0 0.3 2.1 4.8 10.7 16.4 125.9 93.2 2.4 90.9 85.1 5.8 11.2 0.3 2.0 5.1 3.6 2.6 3.6 3.1 4.0 3.2 4.0 2.7 4.2 2.5 4.0 2.5 3.9 2.5 3.9 2.6 4.3 2.7 3.9 2.6 3.8 2.6 3.6 2.8 2.7 3.9 4.7 3.2 3.0 3.9 4.3 5.4 5.5 6.6 5.7 7.5 Not seasonally adjusted 1. Total loans and securities1 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 1S. 19. U.S. government securities Other securities Total loans and leases1 Commercial and industrial Bankers acceptances held1 Other commercial and industrial U.S. addressees4 Non-U.S. addressees4 Real estate Individual Security Nonbank financial institutions Agricultural State and political subdivisions Foreign banks Foreign official institutions Lease financing receivables All other loans* 120.9 126.1 131.4 130.9 133.7 133.9 137.1 144.3 144.5 146.5 152.3 154.8 9.9 12.5 98.5 72.6 2.4 70.2 65.4 4.8 8.0 0.3 3.2 4.6 10.3 13.1 102.7 75.9 2.2 73.8 69.0 4.7 8.0 0.3 3.2 4.8 9.9 13.3 108.2 78.1 2.4 75.6 70.8 4.8 8.3 0.3 4.5 5.1 10. 1 14.4 106.5 79.1 2.4 76.7 71.9 5.0 8.6 0.3 3.5 5. 0 9.9 14.8 109.0 82.5 2.3 80.2 74.8 5.4 8.9 0.3 2.9 4.8 9.9 15.0 109. d 82.6 2.3 80.3 74.7 5.6 9.2 0.3 2.6 4.9 10.4 14.8 111.9 84.2 3.0 81.2 75.9 5.2 9.5 0.3 2.6 4.9 11.2 14.4 118.7 88.5 3.2 85.2 80.1 5.3 9.9 0.3 3.1 5.2 10.8 14.8 118.9 89.0 3.1 85.8 60.7 5.1 9.9 0.3 2.6 5.2 11.1 14.5 120.9 89.4 2.4 87.1 81.9 5.2 10.2 0.3 2.5 5.2 11.0 15.0 126.4 93.6 2.3 91.3 86.1 5.2 11.0 0.3 2.7 5.4 11.1 16.3 127.4 93.9 2.2 91.7 86.7 5.0 11.2 0.3 2.4 5.2 3.7 2.6 3.6 3.1 3.8 3.2 3.8 2.7 4.0 2.5 3.9 2.5 3.9 2.5 4.1 2.6 4.3 2.7 3.8 2.6 3.9 2.6 3.7 2.8 3.6 3.9 4.8 3.4 3.0 3.0 3.9 5.0 4.9 6.8 6.7 7.7 1. Data are prorated averages of Wednesday estimates based on weekly reports from large U.S. agencies and branches and quarterly reports from all U.S. agencies and branches, New York investment companies majority owned by foreign banks, and Edge Act Corporations owned by domestically chartered and foreign banks. 2. Exludes loans to commercial banks in the U.S. 3. Includes nonfinancial commercial paper held. 4. U.S. Includes the 50 states and the District of Columbia. 5. Small amounts of agricultural loans and lease financing receivables (not shown separately) are included in "all other loans." NOTE: Data not available separately where dashes are shown.