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April 1978 L.4.3 Not for Publication % % BANKING AND MONETARY DEVELOPMENTS March 1978 Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System S Table 1 Changes in Commercial Bank Credit, Money Stock and Time Deposits Seasonally adjusted annual rates (per cent) 1976 1977 2nd Qtr 1978 3rd Qtr. 4th Qtr. 1st Qtr. Jan.P Feb.P Mar.P 10.8 12.3 10.4 Year Year 1st Qtr. 8.8 10.3 10.6 12.6 8.6 8.0 22.5 -3.9 26.7 5.4 -19.4 -26.4 Other securities 2.3 7.3 .5 12.1 8.4 7.4 -.5 3.0 -3.0 -1.5 Loans—/ 8.5 13.7 10.4 14.1 13.8 14.0 13.4 18.6 5.8 15.5 2.7 12.8 10.9 12.6 10.3 15.2 17.4 14.2 14.7 21.7 Real estate loans 10.2 17.0 15.0 17.6 16.6 15.0 14.7 13.7 12.2 17.5 Consumer loans 12.7 16.7 11.8 16.5 18.4 16.2 n. a. 11.2 9.1 n. a. Total bank credit!/ U.S. Govt. sec. Business loans 12.8 -12.8 9.4 64. 9 -12.3 Adjusted to include loans sold to selected affiliates 8.6 10.6 10.6 12.6 8.6 8.3 10.5 12.1 10.1 9.1 Loans—/ 8.3 10.5 10.5 14.0 13.7 14.3 13.0 18.3 5.4 15.1 Business loans 2. 6 11.4 11.4 12.6 10.2 16.0 16.4 12.8 13.9 21.7 Total bank credit!/ * Money stock - M-l 4.4 7.8 3.8 7. 5 9.0 6.2 5. 0 9.6 -1.1 3.5 Total time deposits 8.0 11.2 8.1 9. 2 10.8 7.6 7. 4 8.4 8.4 6.3 15.0 11.4 12.0 12. 5 10.8 13.3 12. 0 10. 5 14.7 12.2 CD's (dollar exchange in billions) -18.6 11.3 -.5 1. 1 .5 10.2 8. 0 2.3 3.1 2.6 Time other than CD 1 s 1/ Adjusted to exclude domestic interbank loans. n. a. - not available. Note: Money stock data revised to incorporate latest benchmarks and revised seasonal factors. Table 2 Loans and Investments at All Commercial Banks (Seasonally Adjusted) Date 1/ Total— Loans l7 U.S. Gov't Securities (In billions of dollars) 62.6 378.9 54.5 449.0 50.4 500.2 79.4 496.9 Other Securities 116.5 129.9 139.8 144.8 1972—December 1973—December 1974—December 1975—December 31 31 31 .2/3/ 31 558.0 633.4 690.4 721.1 1976—July August September October November December 28 25 29 27 24 31 751.4 758.0 762.9 771.6 778.8 784.4 512.1 516.0 520.8 529.6 533.1 538.9 93.2 95.6 94.9 94.4 95.4 97.3 146.1 146.4 147.2 147.6 150.3 148.2 1977—January February March April May June July August September October November December 26 23 30 27 • 25 30 27p 31p 28p 26p 3Op 31p 787.3 797.9 805.1 815.7 823.9 830.5 837.0 845.6 848.4 857.9 541.4 546.6 552.9 560.7 566.1 572.4 579.0 587.0 592.2 602.5 97.0 101.7 103.8 103.2 105.1 105.2 103.6 103.1 866.1 611.2 865.4 612.9 97.8 95.0 93.5 148.9 149.6 148.4 151.8 152.7 152.9 154.4 155.5 156.1 157.6 159.9 159.0 1978—January February March 25p 22p 29p 874.3 881.9 622.4 625.4 633. 5 92.5 97.5 96. 5 159.4 159.0 158.8 888.8 100.1 1/ Adiusted to exclude domestic commercial interbank loans. . 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." . ,o1 3/ Beginning October 31, 1974, as the result of uhe liquidation of one large bank total^ ~ loans were reduced by $1.0 billion; business loans by $0.6 billion; real estate ^loam, by $0.2 billion; nonbank financial loans by $0.2 billion; and other securities y $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. • • # e e Table 3 e # @ LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES Loans sold outright by commercial banks 1/ Commercial bank credit Total loans and investments Date 1972—Dec. 1973—Dec.4/5 . 1974—Dec. 1975—Dec. . 1976—Dec. 1 9 7 7 — J u l y 27p Aug. 31p Sept. 28p Oct. 26p Nov. 3Op Dec. 31p 1978--Jan. 25p Feb. 22p Mar. 29p 1/ 2/ 37 T/ 5/ 6/ 7/ Total 2.6 4.3 4.8 4.4 3.8 4.1 4. 1 4.0 4. 1 4.4 4.6 4.5 4.3 4.1 Business Loans 1.7 2.6 2.7 2.5 2.4 2.8 2.8 2 8 2. 9 3. 1 3.3 3. 1 3.0 2.9 Original 558.0 633.4 690.4 721.1 784.4 837.0 845.6 848.4 857.9 866 1 865.4 874.3 881.9 888. 8 2/ Adjusted— 560.6 637.7 695.2 725.5 788.2 841. 1 849. 7 852.4 862.0 870.5 870.0 878.8 886.2 892.9 Total Loans ! Original 378.9 449.0 500.2 496.9 538.9 579.0 587.0 592.2 602. 5 611. 2 612.9 622.4 625.4 633.5 Adjusted^ 381.5 453.3 505.0 501.3 542.7 583. 1 591. 1 596.2 606. 6 615.6 617. 5 626.9 629.7 637.6 Business Loans Original 130.2 156.4 183.3 176.0 179.5 192.4 194. 6 195.1 199.3 201. 6 202.21/ 204.6 207. 1 211.0 3/ Adjusted— 131.9 159.0 186.0 178.5 181.9 195. 2 197.4 197.9 202.2 204. 7 205.5V 207.7 210.1 213.9 To bank holding companies, affiliates, subsidiaries, and foreign branches. Beginning August 28, 1974, loans sold outright to.selected bank affiliates reflect a newly issued definition of the group of affiliates included as well as a somewhat different group of reporting banks. Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign banks. Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. Beginning June 30, 1974, data revised to include one lerge 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. Beginning October 31, 1974, as the result of the liquidation of one large bank, total loans and investments were reduced by $1.5 billion; total loans by $1.0 billion; and business loans by $0.6 billion. However, as the result of loan reclassifications at another large bank, business loans were increased by $0.1 billion. Beginning March 31, 1976, as the result of loan reclassifications in Chicago City and in the San Francisco District, business loans were reduced by $1.2 billion. Beginning December 31, 1977, business loans were reduced by $300 million as the result of loan reclassifications at one large bank. P - Preliminary n.a. - Not available Table 4 Loans a^ Commercial Banks Seasonally adjusted Business Real Estate Consumer Security Nonbank Financial Agriculture (In 'billions of dcIllars) 1972—Dec. 1973—Dec. 1974—Dec. 1975—Dec. 1976—Dec. 31 31 1/2/ 31 31. 31- 130.2 156.4 183.3 176.0 179.5 71.8 83.4 87.0 89.9 98.1 117.7 130.2 134.4 1977—July 27p Aug. 31p Sept. 28p Oct. 26p Nov. 3Op Dec. 31p4/ 192.4 194.6 195.1 199.3 201.6 202.2y 149.0 163. 6 166.1 168.1 170.1 172.3 174.74/ 1978—Jan. 25p Feb. 22p Mar. 29p 204.6 207.1 211.0 176.7 178.5 181.1 ! 101.3 109.9 111.9 113.6 114.8 116.3 118.2 119.3 120.2 n. a. 14.7 12.2 11.4 12.3 17.7 22.1 28.9 33.3 28.0 25.6 14.5 17.5 18.4 20.4 23.5 18.6 18.8 18.7 18.5 20.2 19.6 24.8 24.5 25.0 25.8 25,9 25.2 25.4 25.8 26.3 26.7 26.9 27.1 21.1 17.9 17.1 25.2 25.5 25.0 27.3 27.3 27.5 n.a. - Not available r - revised P " Preliminary. II Beginning June 30, 1974, data revised to include one large mutual savings bank which converted to a nonmember commercial bank. Real estate loans were increased by $.5 billion. 2/ Beginning October 31, 1974, as the result of the liquidation of one large bank, business loans were reduced by $0.6 billion; real estate loans by $0.2 billion; and nonbank financial loans by $0.2 billion. However, business loans were increased and real estate loans were reduced by $0.1 billion as the result of loan reclassifications at one large mideastern bank. 3/ Beginning March 31, 1976, as the result of loan reclassification business loans were reduced by $1200 million, real estate loans increased by $800 million; and nonbank financial by $200 million. LI Retrinnino; nncember .31, 1977, business learns »#>re reduced and ronl estate loans increased by $3nn million as result of reclassifications at one large bank. • e # e e t # e # e „ Table 5 Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted (In billions of dollars) I Feb. Loans and Investments 2/ ! Mar. Apr. i m — May June July y OQ 1*77 1 Item Sept. p Oct. p Mov. p Dec . p Jan. p I i jFcb.p Mar. d +7.6 +6. 9 +10.6 +7.2 +10.6 +8.2 +6.6 +6.5 +8.6 +2.8 +9.5 +8.2 -.7 +4.7 +2.1 -. 6 +1.9 + .1 -1.6 -.5 -3.0 -2.3 -2.8 -1.5 -1.0 +5.0 -1.0 + .7 -1.2 +3.4 + .9 +.2 +1.5 +1.1 + .6 +1.5 +2.3 -.9 +.4 -.4 -0.2 +5.2 +6.3 +7.8 +5.4 +6.3 +6.6 +8.0 +5.2 +10.3 +8.7 +1.7 +9.5 43.0 +8.1 Bus ine$s +1.8 +2.2 +2.3 +1.5 +2.0 +2.2 +2.2 + .5 +4.2 +2.3 + .9 +2.4 +2.5 +3.9 Real estate +1.7 +2.1 +2.2 +2.2 +2.4 +2.2 +2.5 +2.0 +2.0 +2.2 +2.1 +2.0 +1.8 +2.6 Consumer + .8 +1.5 +1.7 +1.1 +1.5 +1.3 +2.0 +1.7 +1.2 +1.5 +1.9 +1.1 +.9 Security + .3 + .1 + .6 + .8 -. 6 + .1 + .2 -.1 -.2 +1.7 -.6 +1.5 -3.2 Nonbank financial -. 4 -.7 + .3 -.3 -1.3 + .5 -.3 + .5 + .8 + .1 -.7 i/ Agriculture + .1 + .3 + .4 + .4 +. 4 + .2 + .4 +.5 + .4 + .2 + .2 +.2 All other + .9 +.8 + .3 -.3 +1.9 + .1 +1.0 + .1 +1.9 + .7 -2.1 +2.3 U. S. Gov't, securities Other securities Loans 2! i ! ii 1/ Less than $50 million. 2/ Adjusted to exclude interbank loans. p Preliminary 1 +.3 i/ +.7 , n. a. i i |I -.8 - 5 + "2 n.a. Table 5A Changes in Loans and Investments at all Commercial Banks, Seasonally Adjusted Adjusted for Loans Sold to Affiliates (In billions of dollars) 1977 Item Mar. Apr. May June 1 Loans and Investments 2/ ! +10.5 +7.3 +10.6 +8.2 +4.7 +2.1 —. 6 +1.9 +.7 -1.2 +3.4 ' 1 +5.1 +6.4 j +1.8 +2.3 Feb. U. S. Gov't, securities Other securities Loans 2/ Business 1 I ! i ! ! 1/ Less than $50 million. 2/ Adjusted to exclude interbank loans. p - preliminary. 1978 July p Aug.p Sept. p Nov. +6. 6 +6. 6 +8.6 +2.7 +9. 6 +8.5 -.5 +8.8 +7.4 +6.7 +. 1 -1.6 -.5 -3.0 -2.3 -2.8 -1.5 -1.0 +5. 0 -1.0 +.9 +.2 +1.5 +1.1 +.6 +1.5 +2.3 -.9 +.4 -0.4 -0.2 +7 • 8 +5.4 +6. 3 +6.7 +8.0 +5.1 +10.4 +9.0 +1.9 +9.4 +2.8 +7.9 +2.4 +1.5 +2.0 +2.2 +2.2 +.5 +4.3 +2.5 +1. 1 +2.2 +2.4 +3.8 p Oct. p Dec. p Jan. p Feb. p Mar. p Table 6 Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, Not Seasonally Adjusted Adjusted for Loans Sold (In billions of dollars) Last Wednesday of February to last Wednesday of March Item 1977 1976 1975 1974 1973 1978p 1972 2/ All commercial banks — Total loans U. S. Gov't, securities Other securities Total +11.3 -1.0 +1,1 +11.4 +9.5 +2.4 +. 1 +11.8 +5. 6 +3.9 +9.5 If +5.8 +10.3 -.2 +1.7 +11.8 +9.1 -.4 +.9 +9. 6 +5.6 +.5 +2.2 +8.3 -.4 +4.8 +1.4 All Large Banks 2/3/ Total loans U. S. Gov't, securities Other securities Total +4.4 -.9 +.2 +3.7 +3.7 +.7 -.3 +4.2 +2. 1 +1.8 -.5 +3.4 -1.8 +3.1 JL/ +1.3 +6.9 -.5 +.4 +6. 8 +5.6 -.2 1/ +5.4 +3.7 +.3 +1.1 +5.0 Other banks 2/5/ Total loans U. S. Gov't, securities Other securities Total +6.8 -.1 +.9 +7.7 +5.8 +1.4 +.4 +7.5 +3.5 +2. 1 +.5 +6.1 +1.4 +1.6 +1.4 +4.5 +3.4 +.3 +1.3 +5.0 +3.5 -.2 +.9 +4.2 +1.9 +.2 +1. 1 +3.2 1973 1972 End of December to end of March Item 1978p 1977 1976 1975 1974 2/ All commercial banks — T:.al loans U. S. Gov't, securities Other securities Total +3.1 -1.0 -.6 +1.5 -. 4 +2.4 -.3 +1.8 -8.7 +5.3 -1.9 -5.3 -18.6 +4.9 +.5 -13.2 +5.1 -. 8 +2.9 +7.2 +14.9 -5.8 +. 7 +9.8 +2.3 -2.1 +4.0 +4. 2 All Large Banks 2/5/ Total loans U. S. Gov't, securities Other securities Total -6.9 -2.1 -2.2 -11.2 -6.4 -1.4 -1.3 -9.2 -9. 6 +1.2 -1.7 -10.1 -16.2 +3.2 -1.5 -14.4 +1.4 -1.0 +.4 +.8 +9.1 -4.9 -.9 +3.3 +. 5 -1.3 +1.3 +.5 Other banks 2/3/ Total loans U. S. Gov't, securities Other securities Total +10.0 +1.1 +1.7 +12.8 +6.0 +3.8 +1. 1 +11.0 +.9 +4.1 -.2 +4.8 -2.4 +1.6 +1.9 +1.2 +3.7 +.2 +2.5 +6.4 +5.8 -.9 +1. 6 +6.5 +1.8 -. 8 +2.7 +3.7 If Less than $50 million. 2/ 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 1967-1978. 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 February to late March 37 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. Pettoleum Chemicals Other durable manufacturing Other nondurable manufacturing Mining Public Utilities, total Transportation 37 Communication 3/ Other public utilities Construction All other types of business Bankers acceptances Services 37 Other Foreign business concerns 37 Classified Unclassified Total Change \J 2J 1974 +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 1975 1976 1977 -278 -167 -262 +62 JtXSA. +221 +28 +506 +178 +328 -259 +657 +305 +352 +399 +40 +135 +108. +93 -382 +60 -28 -271 -284 +113 -14 —80 -137 +124 -189 -40 -66 -26 +205 +6 +84 +87 -76 +43 +34 +150 +72 +9 +69 -54 -20 +116 +132 -186 +113 +157 +79 -17 -418 —96 -128 -380 -523 1978, +113 +82 +740 +267 +473 +690 +75 +270 +165 +180 +230 -187 +273 +141 -31 +395 -159 +302 —88 -373 +172 +66 1,069 -243 Late December to late March Z/ 1974 1975 +199 +328 -1,129 -499 +1.23Q. +803 +477 1976 -511 +121 +16 -4' -476 +2.080 1,068 +111 +1,240 +449 +70 •1,053 -146 +554 +23 +387 +492 +163 +449 +534 -312 +215 +38 -491 -339 -5 -583 +59 +51 -693 -231 +280 +61 +120 +367 +47 +1 +600 +88 +208 -887 -89 -283 -292 -223 +348 -169 -7 -139 -22 +673 -1.244 -124 -298 -822 -965 -3,662 -1,467 +149 -2,344 -135 -6,437 -617 1977 1978- -187 +214 +787 +353 +453 +633 +296 +86 +66 +185 +171 -320 +130 +101 +143 +59 # e # # # e • +280 -221 +532 +52 -62 +451 -180 +378 +11 -569 +21 -30 -148 +200 +50 -2_j_993 •1,892 -2,930 -2,533 -13 +675 -50 -34 -287 -54 -1,656 +2,023 +931 +952 -9 -134 +553 -189 -173 +261 +297 -794 +232 -294 -61 +312 +660 +329 +240 -1,119 +41 +226 +215 +282 +77 -53 +2,566 +7,316 +7,154 -4,758 -2,055 -535 +631 +616 +880 -283 +87. +1.249 +3.197 +8.196 -5.041 -453 -725 +7,770 7,054 Five most comparable weeks used throughout. Changes are compiled from December 26, 1973 December 25 , 1974; December 24, 1975; December 29, 1976;and December 28, 1978. These data cannot be linked with all commercial bank data which are always for December 31, http://fraser.stlouisfed.org/ Federal#Reserve Bank of St.e Louis +52 +300 +1.36: +5 +797 +1,203 -86 +491 +447 +351 t +2,975 Table 8 Loans and Investments of All Commercial Banks (In billions of dollars, not seasonally adjusted) Loans and investments Date U.S. Gov't Other securities Total loans Business Real estate Security Farm, Consumer Nonbank financial institutions All other 1972--Dec. 1973--Dec. 1974- -Dec. 1975--Dec. 1976--Dec. 3ll/ 31 ; , 31&/1/ 571.4 647.3 705.6 737.0 801.6 67.0 58.3 54.5 84.1 102.5 117.1 130.6 140.5 145.5 148.9 387.3 458.5 510.7 507.4 550.2 132.7 159.4 186.8 179.5 182.9 98.4 118.0 130.6 134.8 149.5 17.6 14.6 13.7 14.8 21.2 14.3 17.3 18.2 20.2 23.3 72.1 83.7 87.3 90.2 101.7 23.4 30.5 35.2 29.6 27.0 28.8 35.0 38.8 38.1 44.6 1977--Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 197°- -Jan. 26 23 30 27 25 30 27p 31p 28p 26p 30p 31p 785.6 791.5 803.2 812.9 821.1 835.5 834.2 842.8 848.4 856.1 866.4 884.5 536.6 540.1 549.5 556.5 565.3 579.8 579.9 588.2 594.0 601.3 610.1 625.7 617.0 178.4 180.4 184.3 186.9 188.4 192.7 192.4 193.6 195.5 198.6 200.8-, 206.02-' 202.5 150.6 151.7 153.7 156.0 158.4 161.3 163.6 166.6 168.9 171.1 173.2,, 175.2-' 176.5 17.0 17.2 17.6 17.2 18.7 18.9 18.0 18.3 18.3 18.1 20.2 23.5 20.7 23.2 23.3 23.7 24.3 24.9 25.6 25.9 26.3 26.6 26.6 26.7 26.8 26.8 26.1 25.5 25.6 25.4 25.3 25.2 25.0 25.0 25.0 25.3 25.6 26.6 24.7 39.8 40.3 41 7 41.8 42.9 47.1 44.4 45.4 45.1 46.0 46.9 48.9 872.7 147.9 148.6 148.7 153.0 153.4 154.1 154.3 155.2 155.9 157.1 158.4 159.8 158.5 101.5 101.7 102.9 104.9 106.7 109.0 110.6 113.0 114.6 115.6 116.6 118.7 25 P 101.2 102.8 105.0 103.4 102.4 101.6 100.0 99.4 98.5 97.7 97.9 98.9 97.2 118.7 47.1 118,9 24.7 26.8 47.4 17.5 177.6 205.0 Feb. 22p 617.9 8/5.0 98. 9 158.1 a. a. n. a. 24.9 27.2 180.0 17.4 210.9 886.5 97.9 159.2 Mar. 29p 629.4 n.a. - Not available p - Preliminary NOTE: Data exclude domestic interbank loans. Consumer and other loans were partly estimated for a.l dates. Other data are partly estimated on all but June and December call dates. 1/ Beginning June 1972, business loans were reduced by $400 million, nonbank financial institutions increasedSby $300 million, and "other1' loans increased by $100 million as the result of loan reclassifications at one large bank. 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 $300 million of which $500 million were in loans and $100 in 11 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 by $0.6 billion, real estate loans by $0.2 billion; nonbank financial lozns by $0.2 billion; and "other securities" by $0.5 billion. However, business loans were increased and real estate loans reduced by $0.1 billion as the result of loan reclassifications at one large mideastem bank. 4/ Beginning March 31. 1976. as the result of loan reclassifications, business loans were reduced bv $1200 million, real estate loans increased by $800 million; nonbank financial by $200 million; and other loans by $200 million. 5/ Beginning December 31, 1977, business loans were reduced and real estate loans increased by $300 million as the result of reclassification at one large bank. TABLE 9 * ^ Ratios of Total Deposits L O A N S M e m b e r All commercial banks D A T E 1968--Dec. 1969--Dec. 1970--Dec. 1971--Dec. 1972--Dec. 1973--Dec. 1974--Dec. 1975--Dec. 1976 Dec. 1977--Jan. Feb. Mar. Apr. May June July Aug. Sept Oct. Nov. Dec. 31*2' 31* 31* 31* 31* 31* 64.7 72.0 67.3 65.7 67.9 72.0 72.9 68.7 69.7 (63.7.) (69.8) (66.2) (65.6) (67.7) (71.8) (72.5) f68.3) (69.1) 26* 23* 30* 27* 25* 30*p 27*p 31*p 28*p 26*p 30 *p 28*p 70.4 70.4 70.5 71.1 72.2 71.7 72.5 72.7 73.3 73.7 73.3 72.2 (70.0) (70.1) (70.2) (70.3) (71.8) (71.3) (72.2) (72.3) (72.9) (73.2) (72.9) (71.7) 31 *£/ 31*3/ £ CM 1978--Jan. 25 *p Feb. 22*p Mar. Total 66.8 75.7 69.9 68.0 70.6 75.3 76.0 71.5 72.Q 73.6 B a n k s Reserve City Banks City New York of City Chicago 83.5 102.8 87.5 84.1 85.4 87.7 87.4 84-6 85.7 (76.3) (86.4) (79.6) (83.2) (84.0) (86.4) (85.8) (81.6> (81.5) 81.7(79.3) 75.1 89.5 80.6 78.1 87.2 93.7 91.5 91.5 94.1 90.2 Other 69.1 79.5 73.3 71.6 77.3 81.7 81.9 75.4 76.0 79.1 Country 58.2 62.8 60.2 59.2 60.1 53.9 64.6 61.5 62.2 65.1 73.8 (73.3) 73.4 (73.0) 74.1 (73.7) *-Ratios in parthentheses 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/ Beginning June 1969, total loans are reported gross of valuation reserves rather than net as previously reported. The higher loans level increased the ratio by about 1.3 percentage points for all commercial banks. 3/ Loan data revised to exclude only loans to domestic commercial banks. Previous data had also excluded loans to foreign commercial banks. w w Tab l e ™ 0 W Money Stock Measures and Deposit Turnover (Seasonally adjusted; dollar amounts in billions) M. 1/ M, 2/ "3 1 ' Demand Currency Deposits CDs Time other than CDs Total time US Govt Nonbank Turnover thrift outside deposits insti(all NYC 4/ tut ions— member) (per cent) 1973--Dec 1974--Dec 1975--Dec 1976-—Dec 270.5 282.8 294.5 312.6 571.4 612.1 664.1 739.6 919.2 981.2 1091.8 1235.6 61.5 67.8 73.7 80.7 209.0 215.1 220.8 231.9 63.0 89.0 81.3 62.7 300.9 329.3 369.6 427.0 363.9 418.3 450.9 489.7 347.8 369.1 427.8 496.0 5.0 3.3 2.9 3.2 65.0 74.8 73.7 83.7 1977--April May June July Aug Sept Oct Nov Dec 322.0 322.4 324.3 327.5 329.2 331,6 334.6 334.7 336.7 764.9 768.4 774.2 782.9 787.9 793.7 800.2 803.8 807.6 1282.2 1290.9 1302.0 1317.2 1330.0 1343.5 1356.7 1365.5 1374.1 83.1 83.8 84.2 85.1 85.5 86.3 87.1 87.7 88.5 238.9 238.6 240.1 242.3 243.7 245.3 247.5 247.0 248.2 61.6 62.9 63.3 62.8 63.2 63.8 66.4 70.9 74.0 442.9 446.0 449.9 455.5 458.7 462.1 465.5 469.1 470.9 504.5 508.9 513.2 518.3 521.9 525.9 531.9 540.0 544.9 517.3 522.4 527.8 534.3 542.1 549.8 556.5 561.7 566.5 3.7 2.3 3.2 3.0 3.2 3.3 3.1 3.0 3.6 86.4 89.4 88.8 86.2 89.1 89.6 89.0 90.9 90.5 339.4 1978--Jan Feb 339.1 March jd/340. 1 813.6 816.6 820.1 1384.1 1390.5 1397.3 89.3 90.0 90.6 250.1 249.1 249.5 76.3 79.4 82.0 474.2 477.5 480.0 550.5 556.8 562.1 570.5 573.9 577.1 3.1 3.0 3.4 90.7 n.a. n.a. Week ending 1 8 15 22 29 £/ 817.5 818.7 818.2 821.6 821.8 n.a. n.a. n.a. n. a. n. a. 90.1 90.3 90.5 90.9 91.0 249.2 249.1 248.0 249.8 250.3 80.9 81.8 82.2 82.0 82.3 478.2 479.3 479.6 480.9 480.5 559.0 561.2 561.8 562.9 562.8 n.a. n.a. n. a. n.a. n.a. 3.3 3.4 3.3 3.8 2.9 n.a. n.a. n.a. n.a. n. a. 339.3 339.3 338.5 340.7 341.3 Includes (1) demand deposits at all commercial banks other than those due to domestic commercial banks and the U.S. Government, less cash items in the process of collection, and FR float, (2) foreign demand balances at FR banks, and (3) currency outside the Treasury, FR Banks, and vaults of all commercial banks. 2/ Includes in addition to currency and demand deposits, savings deposits, time deposits open account, and time certificates of deposit other than negotiable time certificates of deposit issued in denominations of $100,000 or more by large weekly reporting commercial banks. 3J Includes M^ plus the average of the beginning and end of month deposits of mutual savings banks, savings and loan shares, and credit union shares. hj Average of beginning and end of month deposits at mutual savings banks, savings and loan shares, and credit union shares. NOTE: Money stock data revised to incorporate latest benchmarks and revised seasonal factors. http://fraser.stlouisfed.org/ p/ Bank preliminary Federal Reserve of St. Louis JL/
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