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f L.4.3 Not For Publication April, 1976 may 1 0 iS ~ Research Library a BANKING AND MONETARY DEVELOPMENTS March 1976 # Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System Table 1 Changes in Commercial Bank Credit, Money Stock and Time Deposits Seasonally adjusted annual rates (per cent) # • 4th Otr.p 1st Otr.p 3.7 3.1 7.4 2nd Qtr. 3rd Otr.p 4.6 Year Year p 2nd halfp Total bank credit—^ 9.2 4.3 3.5 U.S.Govt, securities -7.6 59.6 15.2 95.0 26.0 4.2 53.4 7.9 3.2 2.7 7.1 3.9 1.4 -3.6 11.5 -.6 2.0 -6.7 .4 3.5 3.4 Business loans 17.6 -2.7 1.6 -10.2 .2 2.9 -5.4 Real estate loans 10.4 2.2 2.3 1.2 .3 4.3 5.4 4.5 5.4 6.3 3.5 -.7 5.5 -6.5 5.7 5.2 n.a. 6.9 1.4 n.a. Other Securities # 1976 1975 1974 1/ Loans- Consumer loans Jan.p Ftixp Mar.p 7.8 8.8 35.4 62.8 55.4 5.5 2.5 -2.5 -10.8 1.7 1.9 6.5 2.7 -6.7 -12.2 Adjusted for loans sold to selected affiliates i/ Total bank credit- $ 9.2 4.3 3.4 4.6 3.6 3.1 7.3 5.3 8.1 8.2 Loans 11.5 -.8 1.8 -6.7 .2 3.4 3.2 1.4 2.4 5.8 Business loans 17.4 -2.7 1.3 -9.8 2.5 -5.3 4.7 4.2 2.7 9.7 3.6 1.9 4.6 1.2 6.1 6.5 15.0 7.7 7.2 6.3 2.6 11.8 4.6 4.5 6.9 2.4 9.4 11.9 9.7 14.6 8.9 10.1 16.2 17.6 20.6 9.8 26.3 -6.9 -1.2 -5.7 -5.0 3.8 -9.8 -3.7 -3.8 -2.3 Money stock - # Total time deposits Time other than CD's CD's (dollar change in billions) e JL/ Adjusted to exclude domestic interbank loans, n.a. - Not available http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis L 2.0 -5.3 -12.7 table 2 Loans and Investments at All Commercial Banks (Seasonally Adjusted) Total-/ Date 1/ Loans— U.S. Gov't, securities Other securities (In lillions of dollars) 1970—Dec. 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. 31 31 31 31,, 31- 435.5 484.8 556.4 630.3 687.1 291.7 320.3 377.8 447.3 498.2 57.9 60.1 61.9 52.8 48.8 85.9 104.4 116.7 130.2 140.1 1975—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 29 26 26 30 28 30 30 27 24 29 26 31 690.0 692.6 697.0 699.1 702.0 705.0 706.4 710.4 711.6 715.0 721.3 717.2 501.3 498.9 498.3 495.0 492.8 489.0 489.6 490.7 490.4 494.1 498.0 494.7 48.7 53.2 58.5 64.0 68.2 72.4 73.4 75.6 77.1 75.1 76.3 77.9 140.0 140.5 140.2 140.1 141.0 142.7 143.4 144.1 144.1 145.8 147.0 144.6 P P P P P P 1976—Jan. 28 P 720.5 80.2 495.4 144.9 Feb. 25 P 725.2 496.2 84.4 144.6 31 P 730.5 498.9 88.3 143.3 Mar. Adjusted to exclude domestic commercial interbank loans. p - Preliminary V 2/ Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans and $100 million in "other securities." 3/ Beginning October 31, 1974, as the result of the liquidation of one large bank total loans were reduced by $1.0 billion; business loans by $0.6 billion; real estate loans by $0.2 billion; nonbank financial loans by $0.2 billion; and "other securities" by $0.5 billion. However, business loans were increased and real estate loans were reduced by $0.1 billion.as the result of loan classifications at one large mideastern bank. http://fraser.stlouisfed.org/ # • s • • # # # e Federal Reserve Bank of St. Louis r TABLE 3 LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES Loans sold outright by commercial banks Date Business Loans Total 2.0 4.5 1971—Dec. 2.0 4.4 1972—Dec. 2.9 1973—Dec*.., , 6.1 1974—Dec Z # n.a. n.a. 1975 n.a. July 30 p n.a. Aug. 27 p n.a. Sept. 24 p n.a. Oct. 29 p Nov. 26 p n.a. n.a. Dec. 31 p 1976 n. a. Jan. 28 p n.a. Feb- 25 p Mar .3 ]p (old) >1 j n.a. Mar .31 p(new r n.a. Lf ~ 21 3/ Sold to Affiliates 1/ Business Loans Total 2.8 1.6 2.6 1.7 2.6 4.3 4.8 2.7 L Commercial bank credit Sold to nonbank public 2/ .Business Loans Total 0.4 1.7 1.8 0.3 1.8 0.3 n.a. n.a. Total loans and investments Ad lusted 3/ O'rieinial 484.8 487.6 556.4 559.0 634.6 630.3 691.9 687.1 Total loans Ad lusted 3/ Original Business loans Original Ad lusted 4/ 320.3 377.8 447.3 498.2 323.1 380.4 451.6 503.0 115.9 129.7 155.8 182.6 117.5 : 131.4 158,4 185.3 n.a. n.a. n.a. n.a. n.a. n.a. 4.5 4.5 4.5 4,7 4.7 4.4 2.8 2.8 2.8 2.9 2.8 2.6 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 706.4 710.4 711,6 710.7 714.9 716. J 489.6 490.7 ^90.4 494.1 495.2 4S4.9. 177.6 177.5 176.4 180.4 1K0. 3 179.2 n.a. n.a. n.a. 715,0 721.3 717.2 719,7 726.0 721.6 494,1 498.0 494.7 498,8 502.7 499.1 177.9 178.9 177.7 180,8 181.7 180.3 n.a. n. a. n.a. n.a. 4.3 4.5 4.12 4.2 2.5 2.7 2.6 2.6 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 720.5 725 2 730.5 730.5 724.8 729-7 734.7 734.7 495.4 496.2 49879 498.9 499.7 500.7 503.1 503.1 178.1 177.1 175.3 174.6 180.6 179.8 177.9 177.2 i i. i_ X. U uemix 11V J.U JLI15 v uui^aiLico J a JU JL A. J. J.U WV. U > ~ O" *=» t-> -- u ' ^ — bank affiliates reflect a newly issued definition of the group of affiliates included as well as a somewhat different group of reporting banks. To other than banks' and bank-related affiliates or subsidiaries. Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. 4/ Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. J E S I m S sthJ: s,ls I °" 1 1°,"s 'nd business loans were increased and real estate loans were reduced by $0.1 billion as the result of loan reclassifications at one large mid eastern bank. J7/ Beginnir€ March 31, 1976, as the result of loan reclassifications at Chicago City, business loans were reduced by $700 million, real estate loans increased by $600 million; and nonbank financial by $200 million. p - Preliminary. -revised Table 4 Loans at all Commercial Banks Seasonally Adjusted Business Real Estate Consumer b i l l i o 60.9 71.8 83.4 87.0 (In Nonbank Security Financial n s of do l i a r s ) 15.5 10.8 21.5 14.7 12.2 28.0 32.3 11.4 Agriculture 1971--Dec. 1972--Dec. 1973--Dec. 1974--Dec. 31 31 31 1 / O / 31 ±t L' 115.9 129.7 155.8 182.6 81.4 98.1 117.7 130.2 1975--Jan. Feb. Mar. Apr. May. June July Aug. Sept. Oct. Nov. Dec. 29 26 26 30 28 30 30 27 24 29 26 31 P P P P P P 184.1 182.5 180.9 180.5 179.1 176.3 177.6 177.5 176.4 177.9 178.9 177.7 130.7 130.9 131.2 131.5 131.5 131.6 131.6 131.6 131.7 132.3 132.6 133.1 86.9 86.6 85.5 85.0 84.4 84.1 84.5 84.8 85.3 85.8 85.9 86.4 11.4 10.8 12.0 10.4 11.4 12.2 10.7 10.7 9.8 10.9 12.7 11.8 34.1 33.7 32.8 30.9 32.7 30.3 30.9 31.6 30.6 30.4 30.4 27.6 18.6 18.4 18.5 18.6 18.5 18.7 18.9 19.0 19.3 19.5 19.8 20.1 1976--Jan. Feb. Mar. Mar. 28 P 25 P 31 P (old) 31 p(new)2' 178.1 177.1 175.3 174.6 133.6 134.2 134.9 135.5 86.9 87.0 n.a. n.a. 10.1 10.9 13.2 13.2 29.3 29.4 28.1 28.3 20.2 20,2 20.5 20.5 n i .— 1 1 1 1 . -—n 1 "" 1 111 " "! 111 11111,1 11111 12.8 14.6 17.7 18.6 "" 11 11 • "!) 11 ii,'."mw p - Preliminary n.a. - not available. 1/ Beginning June 30, 1974, data revised to include one large mutual savings bank which converted to a nonmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans and $100 million in "other securities.11 Z/ Beginning October 31, 1974, as the result of the liquidation of one large bank, total loans were reduced by $1.0 billion; business loans by $0.6 billion; real estate loans by $0,2 billion; nonbank financial loans by $0.2 billion; and "other securities" by $0.5 billion. However, business loans were increased and real estate loans were reduced $0.1 billion as the result of loan reclassifications at one large mideastern bank. 3/ Beginning March 31, 1976, as the result of loan reclassifications at Chicago City, business loans were reduced by $700 million, real estate loans increased by $600 million; and nonbank financial by $200 million> ^ i # # # # # # # # # # # • e • # e # # e # Table 5 Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted (In billions of dollars) Item Dec. p Jan.p Feb.p. Mar .p +6.3 -4.1 +3.3 +4.7 +5.3 -2.0 +1.2 +1.6 +2.3 +4.2 +3.9 1/ +1.7 +1.2 -2.4 + .3 -.3 -1.3 +1.1 -.3 +3.7 +3.9 -3.3 + .6 + .8 +2.7 -.1 -1.1 +1.5 +1.0 -1.2 + .4 -1.0 -1.8 1/ i/ + .1 +.6 +.3 +.5 +.5 + .6 + .7 -.3 + .4 + .3 + .5 +.5 +»1 +.5 + .5 + .1 n.a. +1.0 +.8 -1.5 1/ -.9 +1.1 +1.8 -.9 -1.7 + .8 +2.3 -1.9 +1.8 -2.4 +.6 +.7 -1.0 -.2 V -2.8 +1.7 +.1 -1.3 +. 1 +.1 -.1 + .2 + .2 ' + .1 + .3 +.2 + .3 + .3 +.1 + .3 +1.2 +.7 -2.9 +1.5 + .1 +1.8 v V +.4 + .3 -.9 +.2 n.a. Feb. Mar. Apr. May June July.p Aug.p Sept.p Oct .p Nov.p Loans and Investments 2/ +2.6 +4.4 +2.1 +2.9 +3.0 +1.4 +4.0 +1.2 +3.4 U. S. Gov't, securities +4.5 +5.3 +5.5 +4.2 +4.2 +1.0 +2.2 +1.5 +.5 -.3 -.1 +.9 +1.7 +.7 + .7 -2.4 -.6 -3.3 -2.2 -2.9 -.3 -1.6 -1.6 -.4 -1.4 -2.8 +1.3 Real estate + .2 + .3 +.3 i/ +.1 Consumer -.3 -1.1 -.5 -.6 Security —. 6 +1.2 —1.6 Nonbank financial -.4 -.9 Agriculture -.2 All other +.5 Other securities Loans 2/ Business -1.3 i J L / Less than $50 million 2/ Adjusted to exclude interbank loans. p - Preliminary . i Table 5-A Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted (In billions of dollars) 1976 1975 Item Feb.p -4.4 +3.2 +4.9 +5.0 +1.2 +1.6 +2.3 +4.2 +3.9 +1.7 +1.2 -2.4 + .3 -.3 -1.3 -.3 +3.9 +3.9 -3.6 + .6 +1.0 +2.4 -1.1 +1.6 + .9 -1.4 + .3 —. 8 -1.9 Apr. May June Julv p. Aug. p, SCPt, Pi QcttP Nov .p Loans and Investments 2/ +7.6 +2.0 +3.0 +3.0 +1.2 +4.0 +1.2 +3.6 +6.3 U. S. Gov't, securities +5.3 +5.5 +4,2 +4.2 +1,0 +2.2 +1.5 -2.0 Other securities -.3 -.1 + .9 +1.7 + .7 + .7 1/ Loans 2/ -.4 -3.4 -2.1 -2.9 —0.5 +1.1 -1.5 -.5 —1.3 —2.7 +1.2 —•1 Business V 2/ Less than $50 million Adjusted to exclude interbank loans p - Preliminary Mar , p Jan.p Mar. Dec.p Table 6 Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, Not Seasonally Adjusted (In billions of dollars) Last Wednesday of February to last Wednesday of March Item 1976p 1975r 1974 1973 1972 1971 +10.3 +9.1 -0.4 +0.9 +9.6 +5.6 +2.4 +0.5 +2.2 +8.3 +0.2 +2.6 +5.3 +1.5 +0.5 +1.4 +3.4 +0.9 -0.3 2/ All commercial banks Total loans U. S. Gov't, securities Other securities Total All Large Banks —^ ^ Total loans U. S. Gov't, securities Other securities Total 2/ 3/ Other banks — — Total loans U. S. Gov't, securities Other securities Total +4.4 +3.8 -.1 -.4 +4.8 -.2 +1.4 +5.8 + 1.7 +1.9 +1.7 - .4 +3.2 -1.8 +3.1 +5.6 1/ + 6.9 -.5 + .4 +1.3 + 6.8 +5.4 +3.7 +0.3 +1.1 +5.0 +2.5 +1.4 +3.4 + .3 +1.3 +3.5 +1.9 +0.9 +4.2 +3.2 +8.1 +2.1 + .3 +4.9 +1.6 +1.4 +4.5 +11.8 +5.0 -0.2 1/ -0.2 +0.2 +1.1 +1.2 +1.9 Knd nf Ipppmhpr 1-ri w\A nf Marfh Item 1976P 1975r 1974 1973 1972 1971 2/ All commercial banks Total loans U. S. Gov't, securities Other securities Total 2/ -18.6 +4.9 + .5 -13.2 +5.1 -. 8 +2.9 +7.2 +14.9 -5.8 +0.7 +9.8 +2.3 -2.1 +4.0 +4.2 -4.5 -0.1 +5,4 -10.4 +1.2 -1.6 -10.9 -16.2 +3.2 -1.5 -14.4 +1.4 -1.0 + .4 +0.5 -1.3 +1.3 +0.5 -4.8 + .8 +9.1 -4.9 -0.9 +3.3 -2.4 +1.6 +1.9 +3.7 + .2 +2.5 +6.4 +5.8 -.9 +1.6 +6.5 +1.8 +0.8 3/ All Large Banks — — Total loans U. S. Gov't, securities Other securities Total 2/ 3/ Other banks Total loans U. S. Gov't, securities Other securities Total 1/ 2/ •10.4 +5.2 -1.7 -6.9 +4.0 -0.1 +4.0 +1.2 -0.8 +2.7 +3.7 -0.6 +2.9 -2.5 +0.4 +0.5 +2.5 +3.3 -5.8 -1.9 -1.2 +0.2 -2.9 Less than $50 million Based on revised reporting beginning July 1969. Changes have been adjusted to maintain comparability of series. 3/ Based on revised coverage beginning July 1966 and January 1967-1976. NOTE: Data exclude all interbank loans; Call report data for large banks used when available. Loans adjusted to include all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. Allowance has been made in monthly changes for all loan and security reclassifications. For description of reclassifications, see Tables 3 and 8. Table 7 Changes in Commercial and Industrial Loans at Large Commercial Banks (In millions of dollars) Late December to Late March 2/ Late February to Late March _1/ Business of borrower Food processors Commodity dealers Trade concerns Retail trade Wholesale trade Metals Primary metals Machinery Transportation equipment Other fabricated metals Textiles, apparel, etc. Petroleum Chemicals Other durable manufacturing Other nondurable manufacturing Mining Public Utilities, total Transportation Communication Other public utilities Construction All other types of business Bankers acceptances Services Other Foreign business concerns Classified Unclassified Total Change 1/ 2/ -139 6 290 218 72 293 36 183 -19 93 252 -58 5 122 53 66 -245 39 -102 -182 38 246 -146 213 179 128 1,057 342 1,399 1973 71 -232 554 . 356 198 629 -13 450 8 184 238 73 335 284 78 100 -30 2 -6 -26 165 837 1 356 480 484 3,586 484 4,070 1974 1975 381 -137 966 688 278 1,807 122 1,172 253 260 327 166 394 457 175 200 906 182 278 446 139 1,091 15 416 660 282 7,154 616 7,770 -278 -167 314 221 93 -382 60 -271 -284 113 6 84 87 -76 43 34 150 72 9 69 -54 -243 -189 -294 240 -53 -535 82 -453 1972 1976P -269 78 510 182 328 -220 -16 3 -75 -132 99 -189 -36 -63 -31 281 -540 -44 -119 -377 -494 -707 -125 297 -879 35 -1,546 99 -1,44? -231 -202 162 262 -100 -23 -97 8 7 285 -97 -115 155 -64 -137 -448 -44 -74 -330 120 -187 -543 393 -37 130 -652 412 -240 1973 1974 1975 217 34 1,476 962 514 1,262 74 878 28 282 486 177 652 587 142 240 358 67 170 121 290 1,322 -267 643 946 670 7,913 967 8,880 273 312 1,378 981 397 2,136 134 1,216 507 279 548 114 431 471 165 326 -2 47 115 -164 81 325 -4 162 167 207 6,765 665 7,430 -1,173 -622 -577 -583 6 -723 38 -663 -170 72 -170 2 82 -397 -288 -197 -1,201 -94 -179 -928 -194 -230 527 -800 43 122 -5,566 -55 -5,621 1976P -545 62 436 276 160 -639 -51 -324 -135 -129 310 -139 -57 -86 21 410 -1,439 -249 -296 -894 -736 -3,968 -1,617 12 -2,363 -211 -6,581 314 -6,267 Five most comparable weeks used throughout. Changes are compiled from December 29, 1971; January 3, 1973; January 2, 1974; December 31, 1974 and December 31, 1975. These data cannot be linked with all commercial bank data which are always for December 31. # 1972 * # # # # # # # # i e # Date # Loans and investments U.S. Gov't 324.0 360.8 400.4 412.1 446.8 497.9 571.4 647.3 705.6 56.2 62.5 64.5 54.7 61.7 64.9 67.0 58.3 54.5 53.5 54.6 59.3 63. 65. 1966—Dec. 1967—Dec. 1968—Dec. 1969—Dec. 1970—Dec. 1971—Dec. 1972—Dec. 1 9 7 3 — Dec. 1974—Dec. 31 30 1975—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 29 26 26 30 28 30 30 27 24 29 26 31 689.1 1976- -Jan. Feb. Mar, Mar. 28 25 31 31 719.5 p 719.3 p p(old)ft727.6 p(new)—727.6 £ * / 31 31 6/7 / 31 - - 686.8 692.5 698.1 698.3 709. 704. 705. 711. 713. 720.9 734.4 e #BLE s Other securities 48.8 61.5 71.5 71.3 86.1 Total loans 219.0^- — 236.8 264.4 286.1 Business 80.6 88.4 98.4 108.4 112.5 118.5 132.7 159.4 104.7 117.1 130.6 140.5 299.0 328.3 387.3 458.5 510.7 496.5 492.8 492.3 493.1 491.6 497.2 491.7 489.7 491.7 492.4 496.0 505.1 181.9 180.7 180.5 69. 72. 75. 76.1 79.6 84.2 139.1 139.5 140.9 141.7 141.7 143.9 143.6 143.8 144.3 144.8 145.3 145.1 84.9 85.6 89.4 89.4 144.0 143.5 143.4 143.4 490.6 490.2 494.8 494.8 68. # Loans and Investments at All Commercial Banks (In billions of dollars) (Not seasonally adjusted) Real estate 53.9 58.5 65.1 4/ 70.0 72.5 81.6 e Security 9.0 10.5 11.8 10.7 12.1 # Farm 8.6 9.3 9.7 10.3 11.2 12.9 17.6 14.6 13.6 12.5 14.3 17.3 11.3 18.1 18.1 11.7 181.1 130.6 130.4 130.4 130.8 131.0 131.4 131.6 131.9 132.4 • 133.1 133.3 133.5 12.4 10.4 10.3 9.8 10.7 12.3 14.1 18.3 18.5 18.7 19. 19. 19. 19. 19. 19. 19.7 176.0 175.3 175.2 174.5 133.5 133.7 134.1 134.7 10.0 10.7 12.9 12.9 19.7 19.8 20.3 20.3 186.8 181 178 179 177 176 176.8 176.6 177.8 98.4 118.0 130.6 10.6 10.0 11.2 18.2 e Consumer 38.3 40.6 46.3 51.0 53.6 61.2 72.1 83.7 87.3 86.3 85.5 84.4 84. 84. 84. 85. 85. 86.0 86.2 86.1 86.7 86.3 85.9 n.a. n.a. Nonbank financial institutions # All other 13.3 12.5 13.7 4/ 15.1 15.9 16.9 23.4 30.5 35.2 15.3 16.9 19.3 20.6 21.2 24.7 28.8 35.0 38.8 32.8 32.2 31.7 31.7 31.6 32.4 31.4 31.0 30.7 29.6 29.5 29.5 35.5 35.3 35.3 36.6 28.1 28.1 37.0 36.7 n.a. n.a. 28.5 28.7 36.1 38.2 36.5 35 36 36 37 40 n.a. - Not Available p - Preliminary Consumer and "other loans" were partly estimated for all dates. Other data are partly estimated on all NOTE: Data exclude domestic interbank loans. but June and December call dates. „ „ Beginning June 9, 1966, $1.1 billion of balances accumulated for the payment of personal loans were deducted from time deposits and all other 1/ 2/ Beginning June 30, 1966, about $1 billion of participation certificates previously included in agricultural and "all other" loans were reclassified i, Data°revLed C beginning June 1969, to include all bank premises subsidiaries and other significant majority-owned domestic subsidiaries. Real estate loans decreased by $500 million on December 31, 1969, and loans to nonbank financial institutions increased by $500 million due to change in method of reporting mortgage loans held under repurchase agreements. Beginning June 1972, business loans were reduced by $400 million, nonbank financial institutions increased by $300 million, and other loans increased by $100 million as the result of loan reclassifications at one large bank. Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and 5/ 6/ 7/ http://fraser.stlouisfed.org/ 8/ Federal Reserve 1n*r* Bank ofincreased St. Louis bv $600 million: and nonbank financial bv $200 million. TABLE 9*-/ Ratios of Total Deposits L O A N S M e m b e r All commercial banks D A T E 1963-—Dec. 1964--Dec. 1965--Dec. 1966--Dec. 1967--Dec. 1968-—Dec. 1969-—Dec. 1 9 7 0 - -Dec. 1971-—Dec. 1972-—Dec. 1973-—Dec. 1974-—Dec. 25 31 31 31 30 3&' 3&/ 31* 31* 31* 58.6 60.5 63.7 65.8 63.8 64.7 72.0 67.3 65.7 67.9 72.0 72.9 ' Total 59.9 61.9 65.4 67.9 65.8 (63.7 66.8 (69.8 75.7 (66.2 69.9 (65.6 68.0 (67.7 70.6 (71.8 75.3 (72.5 76.0 B a n k s Reserve City Banks City of New York Chicago City 67.4 69.3 75.9 83.5 79.9 83.5 (76.3) 102.8 (86.4) 87.5 (79.6 84.1 (83.2) 85.4 (85.4) 87.7 (86.4) 87.4 (85.8) 62.1 64.4 70.2 77.0 70.8 75.1 89.5 80.6 78.1 87.2 93.7 91.5 Other Country 63.3 65.0 68.7 70.2 53.8 56.0 57.9 59.2 58.2 58.2 68.1 69.1 79.5 73.3 71.6 77.3 81.7 81.9 62.8 60.2 59.2 60.1 53.9 64.6 MEMBER BANK DATA NOW AVAILABLE ONLY ON CALL DATES 1975—Jan. 29* Feb. 26* Mar. 26* Apr. 30* May 28* June 30* July 30*p Aug. 27*p Sept.24*p Oct. 29*p Nov. 26*p Dec. 31*p 74.1 73.7 72.6 72.0 71.8 70.5 71.3 71.1 71.1 70.6 70.4 68.9 (73.8] (73.5: (72.4: (71.7: (71.5: (70.3: 73.4 (71.i: (70.8: (70.8: (70.3: (70.0: (68.5: 1976—Jan. 28*p Feb. 25*p Mar. 31*p 69.8 (69.5: 70.0 (69.6) 68.8 (68.5) 85.0 (83.9) 93.6 78.4 62.7 * - Ratios in parentheses are those obtained by adding Euro-dollars to the deposit base. 1/ Total loans (adjusted to exclude loans to banks) and total deposits (adjusted to ^ — exclude cash items in process of collection). 2/ 3/ Beginning June 1969, total loans are reported gross of valuation reserves rather than net as previously reported. The higher loan level increased the ratio by about 1.3 percentage points for all commercial banks. Loan data revised to exclude only loans to domestic commercial banks. Previous data had also excluded loans to foreign commercial banks. Table 10 Money Stock Measures and Deposit Turnovers (Seasonally adjusted; dollar amounts In billions) MX Currency plus demand ^/ deposits— M2 Mi plus time dep. at comm. other than2/ large CD's— M3 Mg plus deposits at nonbank thrift institutions and credit union «. shares-' Currency Components of money stock measures and related items NonU.S. Gov't. Time bank thrift , , deposits Total Demand other than institutions — (all member) CD's CD's Deposits Time Turnover outside N.Y. City (per cent 270.5 571.4 919.5 61.5 209.0 63.5 300.9 * 364.4 348.0 5.0 75.8 1973-December 1974 December 283.1 612.4 981.6 67.8 215.3 89.8 329.3 419.1 369,2 3.0 86.6 1975-January February March April May June July Aug. Sept. Oct. Nov. Dec. 281.9 281.9 284.1 284.9 287.6 291.0 291.9 293.2 293.6 293.4 295.7 295.0 614.5 986.7 994.0 1003.7 1012.7 1025.3 1040.2 1051.6 213.7 213.2 214.7 215.4 217.4 92.7 92.1 89.8 88.4 85.1 84.1 2.6 83.3 85.5 81.9 1091.8 425.4 428.3 428.7 430.1 431.2 435.5 437.6 436.2 438.3 443.2 447.6 451.2 372.2 375.9 380.7 386.0 391.6 397.8 404.1 410.0 415.2 663.3 68.2 68.7 69.4 69.5 70.2 71.0 71.3 71.9 72.0 72.6 73.4 73.7 1976-Jan. -Feb. Mar. Week ending: Mar. 3 10 17 24 31 p 295.3 296.8 298.4 669.0 676.9 681.7 1102.4 1115.6 1125.6 74.2 75.0 75.7 296.8 299.3 298.7 , 297.3 298.6 678.5 682.0 681.8 681.0 683.0 n.a. n.a. n.a. n.a. n.a. 75.2 75.7 75.7 75.8 75.8 17 2/ 618.2 623.0 626.7 633.7 642.4 647.5 650.6 652.9 655.7 661.6 1060.6 1068.1 1075.6 1086.0 220.8 78.8 79.1 80.9 222.3 221.3. 81.8 82.9 332.6 336.2 339.0 341.8 346.1 351.4 355.5 357.4 359.2 362.3 365.9 368.3 221.2 79.2 75.4 73.1 373.7 380.1 383.2 452.9 455.5 456.4 433.6 438.7 444.2 73.8 73.0 73.0 73.0 73.4 381.7 382.7 383.1 383.7 384.4 455.5 455.8 456.1 456.7 457.8 n.a. n.a. n.a. n.a. n.a. 220.0 220.6 221.3 221.6 221.8 222.8 221.6 223.5 223.0 221.5 222.8 82.1 420.0 424.4 428.6 1.9 2.5 2.7 2.5 3.2 2.6 2.8 81.8 82.8 80.0 81.6 86.2 3.0 3.0 3.9 3.0 85.1 83.5 84.9 *4.7 2.6 2.6 82.9 89.6 n.a. 2.5 2.2 2.9 2.8 2.8 1.9 n.a. n.a. n.a. n.a. n.a. Table 11-A Liquid Asset Holdings of Private Domestic Nonfinaneial Investors (Seasonally adjusted monthly averages; amounts in billions of dollars, ratios in per cent) Other Liquid Assets Curi ency and Deposits Time Deposits Period Total liquid assets Total 1 2 Currency Demand deposits Commercial banks Thrift institutions Total Negotiable CD's 8 3 4 5 6 7 Commercia1 paper 9 U.S. shortterm marketable Treasury securities Savings bonds 10 11 1970--Dec. 1971—Dec. 1972--Dec. 1973--Dec. 1974—Dec. 784.8 866.3 979.2 1092.3 1183.4 632.5 719.9 816.1 885.4 940.9 49.1 52.6 56.9 61.5 67.8 151.4 160.3 174.9 180.9 182.1 199.3 233.7 264.7 294.9 321.9 232.7 273.4 319.6 348.0 369.2 152.3 146.3 163.1 206.9 242.5 23.0 30.2 39.7 57.9 79.6 24.7 24.0 27.5 38.3 41.8 52.6 37.8 38.3 50.3 57.8 52.0 54.3 57.6 60.4 63.3 1975—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 1191.8 1199.8 1207.7 1216.2 1225.1 1239.4 1251.4 1258.6 1264.4 1275.5 1291.6 1299.8 945.7 952.9 962.4 971.4 983.9 999.2 1011.1 1020.3 1027.4 1035.2 1046.0 1051.3 68.2 68.7 69.4 69.5 70.2 71.0 71.3 71.9 72.0 72.6 73.4 73.7 180.7 180.6 182.0 183.3 185.2 187.8 188.7 189.6 189.7 188.9 190.5 188.9 324.6 327.7 330.3 332.6 336.9 342.6 347.0 348.8 350.5 353.8 357.6 360.2 372.2 375.9 380.7 386.0 391.6 397.8 404.1 410:0 415.2 420.0 424.4 428.5 246.1 246.9 245.3 244.8 241.2 240.2 240.3 238.3 236.9 240.3 245.7 238.5 82.5 82.2 79.9 78.7 75.3 73.7 71.9 69.1 69.3 70.6 71.4 72.8 41.7 42.8 44.0 44.4 43.9 43.0 42.1 41.1 40.4 40.2 40.4 40.4 58.4 58;0 57.2 57.2 57.1 58.2 60.8 62.2 61.0 62.9 67.0 68.1 63.6 63.9 64.2 64.5 64.8 65.1 65.6 65.9 66.2 66.6 67.0 67.3 1976--Jan. Feb. Mar. 1307.4 1317.0 1325.0 1061.6 1073.9 1082.9 74.2 75.0 75.7 188.5 188.2 187.9 365.5 372.1 375.7 433.4 438.6 245.8 243.1 242.1 69.5 66.2 64.1 40.4 40.3 40.2 68.2 68.8 69.5 67.6 67.9 NOTE: For description of items, and computation of ratios see Table 11-C 443.6 68.3 f TABLE 11-B- Period f Currency and demand deposits to liquid assets 12 Bank liability to liquid assets 13 Time Deposits at thrift institutions to liquid assets 14 > Liquid assets to GNP 15 Currency and demand deposits to GNP 16 1970--Dec. 1971—Dec. 1972--Dec. 1973--Dec. 1974--Dec. 1975--Dec. 25.5 24.6 23.7 22.2 21.1 20.2 47.6 49.0 49.0 48.9 49.3 47.8 29.7 31.6 32.6 31.9 31.2 33.0 77.4 78.1 79.0 79.7 81.6 83.0 19.9 19.6 19.0 18.2 17.6 17.2 1975--QI Q2 Q3 Q4 20.8 20.9 20.7 20.2 49.0 48.7 48.2 47.8 31.5 32.1 32.8 33.0 83.7 84.0 82.3 82.0 17.4 17.5 17.1 16.7 1975--June July Aug. Sept. Oct. Nov. Dec. 20.9 20.8 20.8 20.7 20.5 20.4 20.2 48.7 48.5 48.3 48.2 48.1 48.0 47.8 32.1 32.3 32.6 32.8 32.9 32.9 33.0 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 1976--Jan. Feb. Mar. 20.1 20.0 19.9 47.7 47.6 47.4 33.2 33.3 33.5 n.a. n.a. n.a. n.a. n.a. n.a. TABLE ll-C Liquid Asset Holdings Sum of columns 2 and 7. Sum of columns 3, 4, 5, and 6. Money stock components after deducting foreign holdings and holdings by domestic financial institutions. The three columns add to held by domestic nonfinancial sectors. Deposits at nonbank thrift institutions and credit unions, as published in money stock statistics. Sum of columns 8, 9, 10, and 11. Negotiable certificates of deposits over $100,000 at weekly reporting banks, except foreign holdings. Commercial paper held outside banks and other financial institutions. Short-term marketable U.S. Government securities excluding official, foreign, and financial institution holdings. All issues due in one year or less, including bonds and notes, plus a sliding proportion of issues due in 13 to 24 months. Series E and H savings bonds held by individuals . Sum of columns 3 and 4 to column 1. Column 6 to column 1. Column 1 to GNP. Annual averages are based on 12-month averages of column 1 and annual GNP. Quarterly averages are based on 3-month averages of column 1 and quarterly GNP. Sum of columns 3 and 4 to GNP. Annual averages are based on 12-month average of columns 3 and 4 and annual GNP. Quarterly averages are based on 3-month average of columns 3 and 4 quarterly SNP.
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