Full text of L.4.3 Banking and Monetary Developments : April 18, 1972

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j

April 18, 1972




L.4.3
Not for Publication

*

BANKING AND MONETARY DEVELOPMENTS
March 1972

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

Seasonallyr adjusted annual rates < per cent)
1969
1970
1971
1972
1972
4th
1st
Year
Year Year p Qtr • P Qtr. p Jan. p Feb. p Mar. p
Total bank credit

#

2.9

8.4

10.8

8.9

16.3

17.1

12.7

18.4

U;S. Gov't, sec.

-15.7

12.6

4.0

2.7

13.3

-9.9

26.1

23.6

Other securities

-0.3

20.6

20.0

17.7

17.3

20.8

12.5

18.0

8.2

4.5

9.1

7.2

16.7

21.5

10.4

17.6

10.6

3.8

6.2

f-

6.8

3.1

9.2

8.1

Loans

#

Business Loans

Adjusted for loan ^ales to bank affiliates
e

Total bank credit
Loans
Business Loans

3.9

8.1

10.7

8.7

16.2

17.5

12.4

18.1

9.7

4,1

9.0

7.0

16 .4

21.6

9.9

17.1

13.3

3.3

5.6

-1.0

7 .4

4.1

9.1

9.0

3.2

5.4

6.2

1.1

9.5

3.2

12.6

12.5

-4.9

17.9

17.9

15.9

14.8

20.0

16.2

7.8

e

Money stock

#

Time deposits

#




TABLE 2
Loans and Investments at All Commercial Banks
(Seasonally Adjusted)
Date

Total

Loans
( X n

of

d o l l a r s

Other
securities

)

1968--Dec.
1969--Dec.

31
31 2/

390.6
402.1

258.2
279.4

61.0
51.5

71.4
71.2

1970--Sept.
Oct.;
Nov.
Dec .

30
28
25
31

424.3
426.2
429.3
435.9

288.4
289.1
290.0
292.0

56.8
56.3
56.3
58.0

79.2
80.8
83.0
85.9

440.7
446.1 3/
449.5
452.5
456.1
461.1

58.9
60.8
61.1
60.7
60.4
62.8

463.7
468.4
472 .4
476.5
478.4
482.9

293.7
295.7
296.5
298.2
300.7
302 .4
301.7
304.1
309.7
313.0
316.4
317.5
318.6

61.6
60.9
59.9
59.1
58.9
60.3

88.1
89.6
91.9
93.5
95.1
95.9
96 .6
98.0
97.8
99.5
101.0
102 .0
103.9

489.8
495.0
502 .6

324.3
327.1
331.9

59.8
61.1
62 .3

105.7
106.8
108.4

1971--Jan.
Feb.
Mar.
Apr.
May
June

27
24
31
28
26
30 (old)
(new)
July 28
Aug. 25
Sept. 29 P
Oct. 27 P
Nov. 24 P
Dec. 31 P

1972--Jan.
Feb.
Mar.

,

b i l l i o n s

U.S. Gov't,
securities

1/
2/

3/
4/

26 P
23 P
29 P

p - Preliminary.
e - Estimated
Adjusted to exclude domestic commercial interbank loans.
Beginning July 1969, bank credit data are revised to include all bank premises subsidiaries and
other significant majority-owned domestic subsidiaries; earlier data for commercial banks only.
Also total loans and investments are now reported gross of valuation reserves rather than net
as previously reported. Individual loan items have always been reported gross.
Includes $800 million System matched sale-purchase transactions outstanding on Feb. 24.
Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700
million are included in other securities; previously they had been included in real estate loans.




TABLE 3
LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES

Date

Loans sold outright by commercial banks
(outstanding in billions of dollars
N.S.A.)
Sold to
Sold to
Affiliates 1/
nonbank public 2/
Business
Business
Business
Total
Total
Total

1970—Sept.
Oct.
Nov.
Dec.

30
28
25
31

6.8
6.0

1971--Jan.
Feb .
Mar .
Apr .
May
June
June
July
Aug.
Sept,
Oct.
Nov.
Dec .

27
24
31
28
26
30
30
28
25
29
27
24
31

p
p
P

4.5
4.4
45

1972--Jan.
Feb.
Mar .

26 p
23 p
29 p

4.6
4.5
4.4

(old)
(new)

Commercial bank credit
(seasonally adjusted)
Total loans
and investments
Original
Adjusted 3/

5.4
4.7

4.2
3.7
3.2
2.5

5.2
4.4
3.8
3.0

3.7
3.2
2 .7
2.1

1.6
1.6
1.6
1.7

0.5
0.5
0.5
0.4

424.3
426.2
429.3
435.9

4.6
4.5
4.5
4.4
4.5
4.7

2.5
2 .5
2 .3
2 .3
2 .3
2 .3

r 2.9
2.9
2.9
2.7

2.1
2.1
1.9
1.9
1,9
1.9

1.7
1.6
1.6
1.7
1.7
1.6

0.4
0.4
0.4
0.4
0.4
0.4

440.7
6/
446 .1
449.5
452.5
456.1
461.1

452.4
455.2
458.9
464.1

4.4
4.4
4.6

2 .2
2.3
2.3
2 .2

2.8
2.8

1.8
1.8
1.9

1.6
1.6
1.6

463.7
468.4
472.4
476.5
478.4
482.9
489.8
495.0
502 .6

2.2

2.0

2.1

2.0
2 .2

2.8
3.1

3.0
2.9
2 .8
r 2 .8
3.0
2.9
7. .8

1.8

1.6

1.6
1.7

0.4
0.5
0.4
0.4
0.4
0.4

1.7
1.7
1.8

1.6
1.6
1 .6

0.4
0.3
0.4

1.8

1.6

429.5
430.6
433.1
438.9

30
28
25
31

-2.8
-0.8

1971—Jan.
Feb.
Mar .
Apr.
May
June
July
Aug.
Sept.
Oct.
Hov.
Dec.

27
24
31
28
26
30
28
25
29
27 p
24 p
31 p

5/
-0.1
5/

-0.1
-0.1
0.1

1972—Jan.
Feb .
Mar .

26 p
23 p
29 p

0.1
-0.1
-0.1

-0.6
-0.7

-0.1
0.1

0.2
-0.3
5/

0.2

-2.4
-0.5
-0.5
-0.7

2.8
-0.8
-0.6
-0.8

5/
5/
-0.2
5/
5/
5/
-0.1

-0.2

5/
-0.1
5/
-0.2
0.1
0.3
-0.3
5/
0.2
-0.1
-0.1
0.1

293.6
293.5
293.8
294.9

109.7
109.5
109.4
110.1

113.4
112 .7
112.1
112 .3

296.6
298.6—
299.3
300.9
303.5
305.5
304.8
3 07.0
312.4
316.0
319.3
320.3
321.5

110.4
111.3
111.2
111.9
112.9
112.4

112.5
113.4
113.1
113.8
114.8
114.3

466 .5
471.1
475.4
479.4
481.2
485.7

293.7,
6/
295.7
296 .5
298.2
300.7
302.4
301.7
304.1
309; 7
313.0
316.3
317.5
318.6

113.9
115.8
116.9
117.3
116.7
116.9

115.7
117.6
118.8
119.1
118.5
118.5

492.8
497.9
505.4

324.3
327.1
331 .9

327.3
330.0
334 . 7

117.2
118.1
118.9

118.9
119.8
120.7

0.1
-0.1
0.2

0.1
-0.1
-0.1

0.1

5/
-0.1

(Annual rates in per cent)

-2.3
-0.5
-0.5
-U .6

5/
5/
5/
0.1

5/

5/
-0.1
5/

-072

i;

5/
-0.1
5/
0.1
-0.1

-0.2

0.1
5/
0.1

Business loans
Original
Adjusted "4/

288.4
289.1
290.0
292.0

Wet Change
(Billions of dollars
1970--Sept.
Oct.
Nov.
Dec.

Total loans
Original
Adjusted 3/

0.1
5/

-0.1

J
I

5/
5/
5/
5/

13.7
5.4
8.7
18.4

5 .6
3.1
7.0
16.1

11.3
2.9
3.7
8.3

-0.4
-0.4
1.2
4.5

7.9
-2 .2
-1.1
7.7

-11.5
-7.4
-6 .4

13.2
14.7
9.1

12 .8
14.6
9.1
7.4
9.7
13.6
6.2
11.9
10.9

6.9
8.1
2.8
6.4
10.4
7.9
8.7
21.1
13.P
13.7
3.8
4.5

3.3
9.8
-1.1
7.6
10.7
-5.3
16.0
20.0
11.4
4.1
-6.0
2.1

3.2
9.6
-3.2
7.4
10.5
-5.2
14.7
19.7
12.2
3.0
-6.0

21.6
9.9
17.1

3.1
9.2

4.1
9.1

8.1

9.0

8.0

5/
5/
0.1

5/
5/
5/

9.6
13.2
6.7
12.1
10.2
10.4
4.8
11.3

-0.1
5/
5/

5/
-0.1
0.1

17.]
12.7
18.4

-0.1

i;

0.1

-0.1

4.5
11.2

7.0
8.2
3.2
6.9
10.1
6.8
9.5
22.1
12.8
13.0
4.2
4.2

17 .5
12.4
18.1

21.5
10.4
17.6

10.1

Preliminary.
c - Corrected.
Estimated.
To bank holding companies affiliates subsidiaries or foreign branches.
2/ To other than banks' and bank-related affiliates or subsidiaries.
Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches.
Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches.
Less than $50 million.

Includes $800 million System matches sale-purchase transactions outstanding on February 24.
http://fraser.stlouisfed.org/ Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million are included in "other securities"
Federal Reserve Bank of St.rather
Louis than in "real estate loans".

I

%

2.1

t

TABLE 3 - Supplementary
LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES

Date

1969
May

28
30
July 30
Aug. 27
Sept. 24
Oct. 29
Nov. 26
Dec . 31
1970
Jan.
Feb.
Mar .
Apr .
May
June
July
Aug.

28
25
25
29
27
30
29
26

During
month
ending:
June 30
July 30
Aug. 27
Sept. 24
Oct. 29
Nov. 26
Dec. 31
1970
Jan.
Feb.
Mar .
Apr .
May
June
July
Aug.

8/
9/

28
25
25
29
27
30
28
25

Loans sold outright by commercial banks
(outstanding in billions of dollars,
N.S.A.)
Sold to
Sold to
Affiliates 1/
nonbank public 2/
Business
Business
Business
Total
Loans
Total
Total
2.0
2 .8
3.7
4.2
4.7
5.9
6.1
5.3

1.1
1.7
2.4
2.7
3.0
3.9
4.1
3.2

7.7
r8.3
r8.5
9.0
r9.8
r9.8
rlO.O
r9.6

5.1
5.8
6.0
6.4
7.1
7.2
6.9
6 .6

%

1.5
2.1
2.8
3.3
3.8
4.8
4.8
3.9

6.0
6.6
6.8
7.2
8.1

8.1

8.2

8.0

!:S»
1.9
2.2
2.5
3.3
3.4

2.6
4.4
5.0
5.3
5.6
6.4
6.5
6.3

6.0

0.5
0.7
0.9
0.9
0.9

8/
0.3
8/
0.4
0.5
0.5
0.5

1.1

0.6

1.3
1.4

0.6

1.7
rl.7
rl.7

1.8
rl.7
rl.7
rl.8
rl.6

0.7

0.7

0.8
0.7

0.8
0.7
0.7

0.6

0.6

Total loans
and investments
Original
Adjusted 3/

0.8

0.6

0.6

0.5

0.9
0.5
0.5
1.2
0.2
-0.8

0.7
0.3
0.3
0.9
0.2
-0.9

0.7
0.5
0.5
1.0
5/
-0.9

0.6

2.4

1.9
0.7
0.2
0.4
0.7
0.1
-0.3
-0.3

2.1

0.6

0.2
0.5

0.8
5/

0.2
-0.4

0.6

0.2
0.4
0.9
5/
0.1
-0.2

0.3
0.3

0.8
0.1

0.2
0.2

%

0.2

0.2

0.1
0.1

i,

0.1

0.1

0.1

-0.1

1.8

0.3
5/
5/

0.1
-0.1

0.8
0.1
-0.2
-0.3

Business loans
Original
Adjusted 4/

401.3
402.7
402.3
402.2
402.4
404.3
407.1
406 .0

271.0
271.9
271.6
272.1
273.6
275.6
277.8
279.4

272.5
274.0
274.4
275.4
277.4
280.3
?«?.6
283.3

102.3
102.4
102.7
103.4
104.2
104.6
1 n 5.1
106.1

103.1
103.7
104.6
105.6
106.7
107.9
108.5
108.7

400.3
400.4
403.9
405.9
407.7
408.4
414.3
419.5

406.3
407.0
410.7
413.1
415.8
416.5
422.5
427.5

278.5
278.3
279.6
279.3
279.1
279.5
283.2
285.7

284.5
284.8
286.5
286.5
287 .2
287.6
291.4
293.7

105.2
105.2
105.2
105.4
105.6
106.4
107.1
108.5

109.6
110.2
110.5
111.0
112.0
112 .9
113.4
114.5

(Annual rates In per cent)

-0.8

0.6
0.3
0.3

Total loans
Original
Adjusted 3/

399.8
400.6
399.5
398.9
398.6
399.5
402 .3
402.1

Net Change
(Billions of dollars

I

0.1

-0.2

0.1
0.1
-0.1
5/
-0.1
5/

Partly estimated.
Adjusted to maintain comparability with subsequent data.




Commercial bank credit
(seasonally adjusted)

2.4
-3.3
-1.8
-0.9
2 .7
8.4
-0.6

4.2
-1.2
-0.3

4.0
-1.3

0.6

2.2
6 .6

5.7
8.3
3.2

8.8

9.6
6.9

-5.4
0.3
10.5
5.9
5.3
2 .1
17.3
15.1

0.9
2.1
10.9
7 .0
7.8

2.0
17 .3
14.2

c - Corrected.

-3.9
-0.9
5.6
-1.3
-0.9
1.7
15.9
10.6

6 .6
1.8
4.4
8.7
12.5
9.9
3.0
5.1
1.3
7.2
2 .9

1.6
15.9
9.5

1.1
3.5
8.2
9.3
4 .6
5.7
11.4
-10.2

2.3
2.3
9.1
15.7
13.3

7.0
10.4
11.5
12.5
13.5
6.7
2.2
9.9
6.6
3.3
5.4
10.8
9.6
5.3
11.6

TABLE 4
NONDEPOSIT SOURCES OF FUNDS AND METHODS OF FINANCE
(Outstandings in billions of dollars)

Date

Euro-dollars
Through branches outside U.S.
Territories
and possessions

Total

Total

12.7
16.8
19.4
19.6
19.1
19.4
20.9
19.6

10.9
14.3
15.6
15.9
15.5
14.8
15.9
14.5

9.9
13.3
14.4
14.7
14.3
13.6
14.5
12.8

21.5
15.2
21.5
14.5
20.5
13.2
20.6
i 13.1
21.7
13.3
21.5
r 13.1
19.8
11.3
19.5
11.5
15 .9
10.6
14.6
10.3
9.4
13.2
8.6
n.7 ,

13.6
13.1
11.9
11.9
12.3
12.2
10.5
10.6
9.8
9.4
8.6
7.7

Jan. z7
Feb. 24
Mar. 31
Apr. 28
May 26
June 30
July 28
Aug. 25
Sept. 29
Oct. 27
Nov. 24
Dec. 29

10.2
9.1
6.4
5.7
5.1
5.2
5.2
4.9
6.0
6 .6
7 .0
4.4

7.4
6 .5
3.5
2.8
2.2
2.2
2.1
1.9
2.8
3.3
3.7
1.3

6.5
5.7
2.9
2 .2
1.6
1.5
1.5
1.4
2 .5
2.9
3.3
0.9

0.5
0.4
0.4
0.4
0.4

1972
Jan. 26
Feb. 23
Mar. 29 p

5.0
4.7
5 .1

1.8
1.4
1.8

1.4
1.1
1.5

0.3
0.3
0.3

1969
May 28
June 25
July 30
Aug. 27
Sept.24
Oct. 29
Nov. 26
Dec. 31
1970
Jan. 28
Feb. 25
Mar. 25
Apr. 29
May 27
June 24
July 29
Aug. 26 ?
Sept.30
Oct. 28
Nov. 25
Dec. 30

jy
2/
3/

6/
7/

Through
brokers
and 1J
dealers

0.6

0.1 6/

0.4
0.4
0.3
0.3
0.4
0.4

0.2 6/

0.8
0.7
0.7

0.6
0.6
0.5

0.6
0.6
0.6
0..6
0.7
0.7
0.7

0.8
0.8
0.6
0.6
0.6
0.6
0.6

0.3
0.5
0.4
0.5

0.6
0.6

0.6
0.5
0.5
0.4
0.3

0.2

0.2
0.1
0.1
0.1

0.1
0.1
7/
7/

I7/
V
7/
¥,
y,
7/
1/
7/

y

Direct*

0.2 6/
0.4 6/
0.5
0.4
0.4
0.3
0.3
0.3

0.3
0.3

0.2
0.2
0.2
0.1
0.1

0.1

0.1
0.1

V,
7/
7/

i!
Z/
7/
7/

b
1/

Z/
7/
7/

Commercial
paper 2/

0.8
1.2

1.0
1.3

1.9
2.2

2.0
1.5

2.6

1.0

3.7
4.2
4.3

0.9

5.5

0.8
0.8
0.8

6.1

0.9

6.5
6.7
7.6
7.6
7.8
7.3
4.6
3.7
3.1
2.3

0.8
0.8
0.7
0.7
0.7
0.7
0.6
0.7
0.7

2.0
1.9
1.7
1.8
1.7
1.7
1.8

1.8
1.9

2.0

2.0
2.0
2.1
2.1
2 .2

^
vtnuo puicuaacs JLl UU1 U.3. AgenC
Issued by a bank holding company or other bank affiliates.
Loans or participation, in pools of loans sold under repurchase agreements.
To bank holding companies, affiliates, or subsidiaries.
To other than banks and bank-related affiliates or subsidiaries.
Patly estimated.
Less than $50 million.




Loans sold under
repurchase agreement 3/
To the
To bank
nonbank
Total affiliates—
pub1ic

These Data Are Not for Publication.

0.8

0.7
0.7
1.2

1.1

1.2
1.3
1.3
1.3
1.3
1.3
1.3
1.2
1.2
1.2

1.1

0.4
0.4
0.7
0.6
0.5
0.5
0.5
0.6

0.6
0.8
1.3
0.9
0.5
0.4
0.3
0.2

0.6
0.7
0.7
0.7
0.7
0.7
0.7
0.7
0.7
0.6
0.7
0.7

0.2
0.2
0.1
0.1
0.1
0.1
0.1
0.1
7/

0.7
0.7

7/
7/

1.1
1.2

I

1;

Customer
guaranteed Ineligible
paper
acceptances

0.1
0.1
0.1

0.2

0.1
0.1

0.2

0.2

0.2

0.2

0.3

0.1

0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3

0.2
0.3
0.4
0.4
0.5
0.5
0.6
0.5
0.5
0.5
0.4
0.2

0.2
0.3
0.2

0.2
0.3
0.3
0.3

1.0

0.2

1.0
1.0
1.0

0.2
0.2
0.1

0.4
0.4
0.3

1.1

1.1

1.1
1.1
1.1

1.1

0.2
0.2
0.2
0.2
0.2
0.2

0.2

0.2

0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.3

1.1

7/

0.1

0.2
0.2

0.2
0.2
0.2
0.2
0.2
0.2

I
TABLE 5
Loans at All Commercial Banks
Seasonally Adjusted
Date

Business
( I n

1966--Dec.
1967--Dec.
1968--Dec.
1969--Dec.
Dec.

31
31
31
31
31

78.6
86.3
95.9
106 .1

1970—Sept.
Oct.
Nov.
Dec.

30
28
25
31

109.7
109.5
109.4

1971--Jan.
Feb.
Mar.
Apr .
May
June

27
24
31

28

26
30 (old)
(new)
July 28
Aug . 25
Sept, 29 p
Oct. 27 p
Nov . 24 p
Dec . 31 P

1972 --Jan.
Feb.
Mar .

1/
2_/

3/

4/
5_/



26 p
23 p
29 p

Real Estate
b i l l i o n s

Consumer
of

53.8
58.4

Security

Nonbank
financial

Agriculture

d o l l a r s )
38.2
40.0
44.8
48.1

7.9
9.2
10.2
9.1

12 .0
11.3
13.1— (old)
13.6
(new)

10.6

71.2
71.5
71.8
72.3

49.4—
49.6
49.5
49.7

9.1
9.7
9.5
10.3

14.7
14.5
14.7
14.3

11.3
11.3
11.4
11.4

110.4
111.3
111.2
111.9
112.9
112.4

72.8
73.4
74.0
74.7
75.5

50.0
50.2
50.4
50.6
50.9
51.1

10.3
3/
10.5
9.9
9.3
9.5

14.9
15.0
15.2
15.4
15.8
15.9

11.3
11.4
11.6
11.7
11.8
12 .0

113.9
115.8
116.9
117.3
116.7
116.9

76.7
77.6
78.5
79.3
80.2
81.1

51.5
52.1
52.8
53.3
54.0
54.6

9.0
9.7
10.6
10.6
10.5
10.0

15.8
16.0
15.3
15.6
15.7
15.3

12.1
12.2
12 .3
12 .3
12.5
12.5

117.2
118.1
118.9

82.0

55.1
55.7
56.3

11.8
12.1
12 .3

16.5
17.1
17.7

12 .6
12 .6
12.8

110.1

64 . 9

2 /

70.3— (old)
69. 8l (new)

82.8

83.9

8.8

12 . 4 1 /

1
e - Estimated.
p - Preliminary
r - Revised
Data are comparable with previous months. Individual loan items are gross throughout and the
effect of consolidation in June 1969 on any one loan item was nominal.
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.
Consumer credit data adjusted in July to exclude about $500 million of consumer paper sold by
finance companies to the banking system but classified as loans to nonbank financial institutions
on bank records. Subsequent repayments are also included in loans to nonbank financial institutions,
Includes $800 million System matched sale-purchase transactions outstanding on Feb. 24.
Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700
million are included in other securities; previously, they had been included in real estate loans.

These data are not for publication.

8.7
9.5

10.0

TABLE 6
tments at All Commercial 1
(In billions of dollars)

1

1971

Item

Loans and Investments 2/ | +5 Ai +1.9

Loans _2/
Business
Real estate
Consumer
Security
Nonbank financial
Agriculture
All other

Total loans excluding
security and nonbank financial

—'

r

v

June

July

A ug .

+3.4

+3.0

+3.6

+5.0

+2.6

+4.7

+4.0

+0.3

-0.4

-0.3

+2.4

-1.2

-0.7

-1.0

+2.3

+1.6

+1.6

+0.g-/

+1.4

-0.2

Jan. p

+1

+4.5

±6^9

-0.8

-0

+1.4

-0.5

+1.3

+1.2

+1.7

+1.5

+1

+1.9

+1.8

+1.1

+1.6
+4.8

Feb. p

March p
+7.6

j

+2.5

+ 1 . 7y

+2.4

+5.6

+3.3

+3 .4

* +1

+1.1

+0.9

+5.7

-0.1

+0.7

+1.0

-0.5

+1.5

+1.9

+1.1

+0.4

-0

+0.2

+0.6

+0.9

+0.7

+0.8

+1.1-A/

+0.3

+0.6

+0.8

+0.8

+0.9

+0.9

+0.8

+0

+0.9

+0.2

+0.9

+0.2

+0.8

+0.2

+1.1

+0.3

+0.2

+0.4

+0.6

+0.7

+0.5

+0

+0.6

+0.2-/

+0.5

r +0.6

-0.6

-0.6

+0.6

-0.5

+0.7

-0.5

+0.7

+0.9

1/

-0

-0.5

+1.8

+0.3

+0.2

c -0.4

+1.2

+0.6

+0.6

1/

+0.2

+0.1

+0.2

+0.2

+0.4

+0.1

-0.1

+0.2

-0.7

+0.3

+0,

+0.1

+0.2

+0.1

+0.1

+0.2

+0.1

+0.1

+0.1

1/

+0.

1/

+0.1

+0.2

+0.4

+0.4

-0.1

+0.2

+1.2

+0.3

+1.4

-0.

+0.3

+0.9

+2.9

+4.9

+2.4

+3.4 .

+1.2

+1.6

+3.9

+2.5

+4.6

+3.0

+4.7

+3.1

+3.1

+1.1

+2.0

+2.7

+1.9

+4.0

+1.8

+1.7

+1.4

+1.2

+2 .3

+2.1

+3.0

+2.6

+1.0

+0.9

iiiiiiiuu •

Adjusted to exclude domestic interbank loans.




Dec . p

+1.7

Beu!nMS

previously Z y

Nov.

+0.8

2/

j °°

Oct. p

+2.0^/

1/

$

Sept. p

|

-0.1

Total loans excluding
security

May

£>

Other securities

Apr i

S y s t e m

hid been

matched

i-t
i
o

U. S. Gov't, securities

1972

March

00

| Feb.

+1.3

sale-purchase transactions on February 24.
A l t e ^ f

are included in other securities;
this reclassification.

TABIE 6-A
Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted
Adjusted for Loans Sold to Affiliate
(In billions of dollars)
Item
Feb.

March

April

May

June

July

Aug.

Loans and Investments 2/

+5 A -

+5.4

+2.8

+3.7

+5.2

+2.4

+4.6

U. S. Gov't, securities

+1.9

+0.3

-0.4

-Q-.3

+2 .4

-1.2

Other securities

+1.5

+2.3

+1.6

+1.6

+0.8-/
/

Loans _2/
Business

+2.0^
+0.9

/

+1.7

+1.6

+2.6

+2.(A

-0.3

+0.7

+1.0

-0.5

Sept. p

Oct. p

Nov. p

Dec. p

Jan. p

Feb. p

44.3

+4.0

+1.8

+4.5

+7.1

+5.1

+7.5

-0.7

-1.0

-0.8

-0.2

+1.4

-0.5

+1.3

+1.2

+1.4

-0.2

+1.7

+1.5

+1.0

+1.9

+1.8

+1.1

+1.6

+2.2

+5.4

+S. 6

+3.3

* +1.0

+1.2

+5.8

+2.7

+4.7

+1.4

+1.9

+1.2

+0.3

-0.6

1/

+0.4

+0.9

+0.9

Real estate
Consumer
Security
NOT AVI IIABLE
Nonbank financial
Agriculture
All other
Total loans excluding
security
Total loans excluding
security and nonbank financial
1/
!_/
3_f
4/

!
Less than $50 million.
"
Adjusted to exclude domestic interbank loans .
Includes $800 million System matched sale-purchase transactions on February 24.
Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million are included in other securities;
previously they had been included in real estate loans. Changes have been adjusted to take account of this reclassification.




March n

Table 7
Changes in Loans and Investments at All Commercial Banks, at Weekly
Reporting Banks, and at Other Banks, Not Seasonally Adjusted
Adjusted for Loans Sold
Last Wednesday of February to last Wednesday of March

Item

1972 D

1971

1970

1969

1968

1967

1 Q66

All commercial banks 2/
Total loans
U. S. Gov't, securities
Other securities
Total

+5.5
+0.5
+2.2
+8.2

+2.4
+0.2
+2 .6
+5.3

+1.6
+0.1
+1.9
+3.5

+1.8
-1.0
+0.5
+1.3

+1.7
-2.0
+0.9
+0.6

+3.1
+1.2
+1.3
+5 .6

+3 .9
-1.9
+0.3
+2 .4

All Large Banks 2/ 1 /
Total loans
U. S. Gov't, securities
Other securities
Total

+3 .6
+0.3
+1.1
+ra~

+1.5
+0.5
+1.4

+0.9
+0.3
+1.4

+0.7
-0.3
+0.1
+0"

+1.0
-1.7
+0.6

+1.9
+1.1
+1.0
44.1

+2.7
-1.1
1/
+T3

Other banks ?/ ?/
Total loans"
U. S. Gov't, securities
Other securities
Total

+1.9
+0.2
+1.1
+3.2

+0.9
-0.3
+1.2
+1.9

+1.1

+0.7
-0.3
+0.3
+0.6

+1.2
+0.1
+0.3
+1.5

+1.2
-0.8
+0.3
+0.8

Item

+T3

.

+0.6
-0.2
+0.5
+0.9

-0.7
+0.4
+0.8

End of December to end of March
1972 p

1971

1970

1969

1968

1967

1966

All commercial banks 2/
Total loans
U. S. Gov't, securities
Other securities
Total

+2 .2
-2.1
+4.0
+4.1

-4.5
-0.1
- +5.4
+0.8

-6.9
-3.2
+1.3
-8.8

-1.9
-6.1
+0.1
-8.0

-3.3
-1.3
+1.6
-3.0

-2.7
+1.6
+3.2
+2.2

1/
-4.1
+0.5
-3.5

All Large Banks 2 / 3 /
Total loans
U . S . Gov't, securities
Other securities
Total

+0.4
-1.3
+1.3
+0.4

-4.8
-0.6
+2.9
-2 .5

-5.0
-2 .0
+1.2
-5.8

-3.5
-4.5
r0.9
-9.0

-3.1
-1.7
+1.2
-3.6

-2.9
+1.6
+2.9
+1.5

-0.1
-3.4
1/
-3.6

Other banks 2/ 3/
Total loans
U. S. Gov't, securities
Other securities
Total

+1.8
-0.8
+2.7
+3.7

+0.4
+0.5
+2 .5
+3.3

-1.9
-1.2
+0.2
-2.9

+1.6
-1.6
+1.1
+1.0

=0.2
+0.4
+0 .4
+0.6

+0.2
1/
+0.3
+0.7

+0.1
-0.7
+0.5
+0.1

NOTE:
1/
2/
3/

Data exclude domestic 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.
Less than $50 million.
Based on revised reporting beginning July 1969. Changes have been adjusted to
maintain comparability of series.
Based on revised coverage beginning July 1966, and January 1967, 1968, 1969, 1970,
1971, and 1972.




Table 8
Changes in Commercial and Industrial Loans at Large Commercial Banks
(In millions of dollars)
Late February to late March 1/

Late December to late

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 3/
Communication 3/
Other public utilities
Construction
All other types of business
Bankers acceptances
Services 3/
Other
Foreign business concerns 3/
Classified
Unclassified
Total Change
V
2/
3/

1972 p

1971

1970

-130
+9
+272
+72
+200
+243
+36
+150
-24
+81
+251
-58
+4
+124
+60
+63
-249
447
-100
-196
+36
+275
-161
+242
+194
+114
+1,014
+314
+1,328

-77
+6
+215
+80
+135
+80
+139
-168
441
+6 8
+81
-197
+30
+91
+3
-88
-282
+142
-59
-365
+117
-66
-111
-35
+80
+145
+58
+344
4402

-92
-53
+229
+65
+164
+285
+51
+107
+52
+75
+146
+34
+7
+110
+1
-105
-246
+17
+55
-318
-1
+262
+60
-31
+233
+35
+615
+67
+682

1969
-29
-88
+162
+15
+147
+584
+41
+401
-22
+164
+142
+5
+144
+50
+93
-76
-55
+93
-41
-107
+62
+505
+35
+169
+301
-24
+1,505
+37
+1,542

1968
-25
-128
+302
+187
+115
+441
+181
+124
+42
+94
+191
-25
+71
+126
+56
+269
+127
+128
+133
-134
+46
+391
+120
+139
+132
-13
+1,879
+77
+1,956

1972 p
-218
-192
+191
+237
-46
-58
+54
-126
+9
+5
+279
-97
-104
+149
-68
-140
-385
-26
-73
-286
+115
-31
-568
+383
+154
+125
-434
+385
-49

1971
-528
-53
+59
+91
-32
-180
+147
-280
-77
+30
+159
-285
+21
+129
-80
-138
-41
+269
+25
-335
+130
-446
-162
-266
-18
+140
-1,113
+420
-693

1 970

1 Q6Q

-415
-158
-195
-103
-92
+2 96
-74
+149
+96
+125
+169
-124
-1

-607
-16
-12
+179
+167
+840
+87
+454
+157
+142
+241
+315
-7
+38
-8
+4
-445
+236
-1,169
-156
-156
+144
-220
-104
-793
-196
-83
+205
-368
+822
-156 .
-155
-128
+545
- 84
+432
-106
-43
-2,726 +1,860
-389
+62
-3,115 +1,922

Four most comparable weeks used throughout.
Changes are compiled from December 29, 1971; December 30, 1970; December 31, 1969; December 25, 1968; and
December 27, 1967. These data cannot be linked with all commercial bank data which are always for December 31.
Prior to 1967, transportation, communication, services, and foreign loans were not reported separately.




1 Q6R
-294
-275
-20
-29
+9
+570
+262
+240
+8
+60
+325
-113
+116
+20
+14
+497
-336
+155
-72
-419
+42
+153
-120
+173
+100
-48
+652
+43
+695

TABLE 9
Gross Loans and Investments at All Commercial Banks
(In billions of dollars)

Loans and
Investments

Date
1965--Dec . 31
1966--Dec . 31
1967--Dec . 30
1968--Dec. 31
1969--Dec. 31 3/

1970--Jan.
Feb.
Mar.
Apr.
May

28
25
25
29
27
30
July 29
Aug. 26
Sept. 30
Oct. 28
Nov. 25
Dec. 31

I
'

1971-Jan.
Feb.
Mar.
Apr.
|
May

27
24
31
28
26
30 (old) 7/
(new)
July 28
Aug. 25
Sept. 29 p
Oct. 27 p
Nov. 24 p
Dec. 31 P

|

1972--Jan. 26 p
Feb. 23 p
Mar . 29 p

Other
U.S. Gov ' t Securities

l/

J-'
~

" e ''

1966

8.4
8.5
9.0
10.5
11.8
10.7

7.5
8.2
8.6 2/
9.3 ""
9.7.
10.3

399.1
397.2
400.5
404.8
405.3
411.7
414.1
416.8
424.7
425.6
429.3
446.8

53.0
51.4
51.5
52 .3
52.6
51.6
53.5
55.1
55.8
57.2
58.3
61.7

70.6
70.8
72.7
74.3
74.3
75.6
75.7
77.1
79.5
81.0
82.5
86.1

275.6
275.0
276.3
278.2
278.4
284.5
284.9
284.7
289.5
287.5
288.4
299.0

104.1
104.1
105.0
105.6
105.3
1-08.6
107.4
107.1
109.6
108.5
108.9
113.0

70.1
70.1
70.1
70.2
70.3
70.6
70.8
71.1
71.6
71.9
72.2
72.5

439.5
442.4 6/
447.7
450.9
453.6
464.8

8.2
8.3
8.8
8.8
8.6
7.9
8.4
8.9
9.3
9.4
9.1
12.1

61.5
61.4
61.6
60.0
58.8
60.3

10.4
10.5
10.6
10.8
11.1
11.2
11.3
11.4
11.4
11.3
11,2
11.2

109.2
110.3
111.3
111.8
112.7
114.6

22.4
22.9
22.8
22.2
22.7
22.3
23.2
24.5

11.0
11.2
11.5
11.7
12 .0
12.2

49.6
49.5
49.7
50.3
50.8
51.4

14.5
14.3
15.2
15.2
15.4
17.0

23.8
23.9
23.3
24.3
25.4
26.5

114.1
114.8
116.6
116.3
116.3
119.9

72.7
73.0
73.6
74.3
75.2
76.5
75.8
76.8
77.8
78.9
79.8
80.6
81.3

10.1
9.9
10.0
9.1
8.5
9.7

59.3
58.7
58.7
60.0
61.1
64.6

290.9
2 92.1 6/
294.6
296.7
300.0
307.8
307.1
305.6
309.3
313.4
314.5
316.0
326.3

12,7
12.4
12.2
12.7
12.3
14.4
14.9
14.4
15.1
14.3
14.3
15.9

463.0
466.1
472.0
475.8
478.5
494.9

87.1
88.9
91.5
94.2
94.9
96.7
97.4
98.2
98.1
99.9
101.3
101.4
104.1

48.0
47,8
47.8
48.1
48.4
49.0
49.3
49.6
49.8
49.8
49.5
49.9

488.5
490.8
499.1

10.3
10.2
11.8

62.8
62.0
62 .5

12.4
12.5
12.5
12.3
12.3
12.2

104.5
105.9
108.1

51.9
52.6
53.2
53.6
54.1
54.8

321.2
322.9
328.5

15.7
15.6
15.6
15 3
15.3
16.9

116.0
116.9
118.9

25.9
26.5
26.4
26.9
27.2
29.4

81.9
82.4
83.4

11.6
11.4
12.0

12.3
12 .4
12.6

54 .7
55.0
55,6

16.0
16.3
17.1

28.7
28.6
29.0

60.2

9.5

10.2

'°d

b l U l 0

° °£

b a U n C e S

aCCUm

l0anS

"laCed

for

the

" ™«e

..

22.0

—

" " L t V f or'ail dates.- Other data
—— -t-» are
— — partly
r " v i j estimated
grlj,upl«u on
un all
a

but

e a y * n t °f personal loans were deducted from time deposits and "all other

°' P a r C l c l p a " ° " certificates previously Included in agricultural and "all other" loans were reclassified

data are'for c ^ « c : l T : L % ; / °

^

-bsidiaries and other significant

majority-cned domestic subsidiaries; earlier

*

"

22.1
21.8
21.8

43.7
49.3
54.0
58.5
65.1
70.0 4/

$ 1 A

—

E

15.7
16.8
15.3
17.5
20.7
22.9

71.4
80.6
88.5
98.4
108.8

a18»othenr securities 9 " 6 '

I E

10.9
13.3
13.3
12.5
13.7
15.1

38.8
177.4
44.9
203.2
48.8 2/ 219.0 1/ 2/
61.5
236.8
71.5
264.4
71.3
286.1

—

'

31.0
35.7
38.3
40.0
44.9
48.2

63.0
59.5
56.2
62.5
64.5
54.7

a n d ^December
c e m b e r call
c I T dates.
T d l t e ^ ^
and
JU

All
Other

279.2
307.6
324.0 1/
360.8
400.4
412.1

P " Preliminary.
NOTE!

Nonbanlc
Financial
Institutions

Real
Estate

S

previously'they'had'been

H

S

E
"

E

OCeS t0tallns aPPr0Xlmately

S
$70

°

by $500

S
«=

included in other securities;

Individual loan category data are available for rublication only on a June and ner.ember rail d.t, h..,.




.ai, ,

t.

June

TABLE 10
Ratios to Total Deposits 1/

L O A N S
D A T E

M e m b e r
B a n k s
Reserve City Banks
New York City of
,Total
City
Chicago Other Country
1959--Dec. 31
54.0
55.6
67.3
58.2
58.2 48.2
1960--Dec . 31
55.1
56.5
65.9
60.8
59.0 50.3
1961--Dec . 31
54.5
55.7
65 .0
58.0
57.7 50.2
1962--Dec . 28
56.5
57.7
67.9
61.4
60.1 51.7
1963--Dec . 25
58.6
67.4
59.9
62.1
63.3 53.8
1964--Dec . 31
60.5
61.9
69.3
64.4
65.0 56.0
1965--Dec . 31
63.7
65.4
75.9
70.2
68.7 57.9
1966--Dec . 31
65.8
67.9
83.5
77.0
70.2 59.2
1967--Dec. 30
63.8
65.8
79.9
70.8
68.1 58.2
1968--Dec. 31*. , 64.7 (63.7) 66.8
83.5(76.3)
75.1
69.1 58.2
1969--Dec . 31*—
72.0 (69.8) 75 .7 102.8(86 .4)
89.5
79.5 62.8
1970--Dec. 31*
67.3 (66.2) 69.9
87.5(79.6)
80.6
73.3 60.2
All
commercial
banks

U.S. Government
securities maturing
within one year
All Commercial
Banks
7 .4
8.7
11.2
9.5
7 .5
8.0
7 .3
6.1
6.4
6.1
5.0
5.7

1971--Jan. 27*
Feb. 24*
Mar. 31*
Apr. 2 8*
May 26*
June 30*
July 28*
Aug. 25*
Sept.29*p
Oct. 27*p
Nov. 24*p 3 ,
(new) Nov. 24*p—
Dec. 29*p

67.2
67.3
66.1
66.4
66.7
66.1
66.8
66.8
67.2
66.8
67.0
67.6
66.3

69.5
69.6
68.2
68.5
68.8
68.4
68.8
68.9
69.5
69.1
69.3
70.0
68.5

86.6(79.9)
88.0(82.3)
84.8(81.9)
84.7(82 .5)
85.0(83.4)
84.0(82.3)
84.6(82.9)
85.4(84.3)
87.8(85.0)
87.1(83.5)
86.7(83.6)
89.0(85.8)
85.8(85.0)

80.9
81.3
81.4
76.9
77.5
78.7
79.3
80.5
79.4
80.1
80.7
82.9
78.9

72.5
72.3
70.5
71.5
71.8
71.4
72.2
72.2
72 .4
72.2
72.7
73.5
71.5

60.6
60.6
59.8
60.2
60.4
59.9
60.3
60.1
60.5
60.2
60.4
60.4
59.7

5.5
4.9
4.7
4.3
4.1
3.9
3.8
3.4
3.6
3.5
3.1
3.1
3.9

1972--Jan. 26*p
Feb. 23*p
Mar. 2 9*p

66.5 (66.3) 68.7
66.5 (66.6) 68.8
66.7 (66.5) 69.0

85.6(84.0)
85.5(84.4)
85.1(83.4)

70.9
81.7
82.5

71.9
72.3
72.8

60.0
60.3
60.3

2 .6
2.8
n .a.

*&" -

1/

2/

3/

Rflfi n c

n r» n a r o i

(66.2)
(66.4)
(65.6)
(66.1)
(66.5)
(65.9)
(66.5)
(66.6)
(66.8)
(66.4)
(66.5)
(67.1)
(66.2)

;

l u Liie aeposic oase .
Total loans (adjusted to exclude loans to banks); U.S. Government securities maturing
within one year estimated on basis of Treasury survey of ownership; and total deposits
(adjusted to exclude cash items in process of collection).
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 11
Money Stock Measures and Deposit Turnover
(Seasonally adjusted; dollar amounts in billions)
M2

M3

M*l plus
M2 plus
time dep.
deposits
Components of
plus
at comm.
at nondemand
, other than., bank thrift
.
Demand
deposits— large CD's— institutionsCurrency Deposits
160.5
273.8
422.9
34.2
126.3
168.0
298.1
459.4
36.3
131.7
171.7
314.0
481.3
38.3
133.4
183.1
345.7
528.8
40.4
142 .7
197.4
378.0
572.6
43.4
154.0
203.7
386.8
588.4
46.0
157.7

*1
Currency

1964--December
1965--December
1966--December
1967--December
1968--December
1969--December

money stock measures and related items
Time and
NonU.S. Gov 1 1.
savings deposits bank thrift
deposits
CD's Other Total institutions
(all member)
13.3 113.3
149.2
5.3
16.7 130.1 146.8
161.3
4.4
15.9 142.2 158.1
167.4
3.5
20.8 162.6 183.4
183.1
4.6
23.6 180.6
194.6
4.2
11.0 183.2
201.5
4.9

•-July
August
September
October
November
December

210.3
211.6
212.8
213.1
213.6
214.8

401.7
405.6
409.2
412.0
414.3
418.2

608.7
614.2
619.3
624.0
628.1
634.1

48.0
48.1
48.3
48.5
48.7
49.0

-January
February
March
April
May
June
July
August
September
October
November
December

162.4
163.5
164.5
164.6
164.9
165.8

17.0
19.3
21.3
22.6
23.6
25.5

215.3
217.7
219.7
221.2
223.8
225.5
227.4
228.0
227 .6
227 .7
227.7
228.2

423.1
430.4
437.1
441.5
446 .6
450.6
453.4
454.5
455.6
458.3
460.8
464.7

642.5
653.7
664.2
672.9
681.5

166.0
168.0

694.5
698.0
701.4
706.7
711.8
718.1

49.3
49.7
50.0
50.5
50.8
51.1
51.6
51.7
51.9
52.2
52.2
52.5

-January
February r
March p

228.8
231.2
233.6

469.9
475.5
480.1

727.3
737.4
746.0

231.4
232 .5
233.9
233.8
233.4

477.3
478.1
480.7
480.1
479.9

Week ending:
March
1
8
15
22
29 p

688.6

n.a .
n.a .
n.a.
n.a .
n.a.

191.4
193.9
196.4
198.9

208.4
213.2
217.7
221.5

v
3/




33.5
37.4
40.1
40.6
44.8
49.2

203.4 228.9

207.0
208.6
210.1
212 .0
213.8
215.9

5.5
5.7
5.7
5.2
6.3
6.5

53.6
52.5
53.0
53.4
51.6
52.4

169.7
170.7
173.0
174.5
175.8
176.3
175.7
175.5
175.5
175.7

26.6 207.8 234.4
27.5 212.7 240.2
28.1 217.4 245.4
27.8 220.3 248.1
28.5 222.8 251.3
29 .4 225.0 254.4
30.4 225.9 256.4
30.8 226.5 257.3
31.6 228.0 259.6
32.7 230.6 263.3
32.2 233.1 265.3
33.4 236.4 269.9

219.4
223.3
227.1
231.4
234.9
238.0
241 .1
243.6
245.8
248.4
251.0
253.4

6.1
4.9
4.1
5.7
5.5
4.3
5.1
5.8
6.6
4.7
5.4
6.2

52.6
54.0
53.3
54.4
53.4
55.8
55.8
56.0
56.3
54.7
57.3
56.5

52.8
53.2
53.7

176.0
178.0
179.9

33,2
33.8
33.4

257.4
261.9
265.9

6.3
3.7

n .a .
n .a .
n.a.

53.2
53.5
53.7
53.7
53.9

178.2
179.0
ltiu.2
180.1
179.5

33 .8
33 .7
33,,U
34 .1
33..7

J .2

n.a.
n.a.
n.a.
n .a .
n .a .

.

200.6 224.2

241.2 274.4
244.3 278.1
246.5 279.9

245.9
245.7
246.8
246.4
246.5

279.7
279.4
279.W
279.5
280.2

n .a
n .a
n.a
n .a
n .a

6.1

5.2

6.2
6.7
6.9

icludes (1) demand deposits at all commercii
Treasury,F?R. Banks and vaults of all commercial banks ^

Turnover
outside
N.Y. City
(per cent)

"

F

"R" ^

(3) currency outside thi

TABLE 12

Period

Total

Consumertype time
& savings

Time and Savings Deposits
ConsumerLarge
State Political
type
Negotiable Foreign Official
Savings
CD's 1/
time
etc .

1966--Dec.
Dec .
1967--Dec.
Dec.
1968--Dec.
Dec.
1969—Dec .
Dec.

28
28
27
27
31
31
31
31

(old)
(new)
(old)
(new)
(old)
(new)
(old)
(new)

89,495
89,639
102,809
102,991
111,900
112,103
96,589
96,787

65,733
65,864
73,686
73,858
79,443
79,637
77,616
77,812

47,099
47,213
48,647
48,781
49,016
49,161
46,486
46,632

18,634
18,651
25,039
25,077
30,427
30,476
31,130
31,180

15,659
15,642
20,330
20,330
22,821
22,820
10,910
10,919

8,103
8,133
8,793
8,803
9,636
9,646
8,054
*,056

1970--June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Dec .

24
29
26
30
28
25
30 (old)
30 (new)

99,676
106,494
109,725
113,640
114,803
116,447
119,442
120,206

77,348
78,435
79,070
80,722
81,150
81,554
82,776
83,473

46,174
46,345
46,330
46,808
47,016
47,332
48,032
48,479

31,174
32,090
32,740
33,914
34,134
34,222
34,744
34,994

12,976
17,900
20,174
22,242
23,545
25,201
26,074
26,125

9,352
10,159
10,481
10,676
10,108
9,692
10,592
10,608

1971--Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Dec.

27
24
31
28
26
30
28
25
29
27
24
29 (old)
29 (new)

123,102
125,842
129,175
129,339
131,114
131,890
132,953
133,828
136,159
137,159
137,980
140,933
141,259

85,168
87,319
90,809
90,745
91,671
92,657
91,918
91,848
92,410
92,770
93,374
94,516
94,810

49,142
50,453
52,974
53,047
53,430
53,651
53,145
52,989
53,314
53,601
54,014
54,543
54,738

36,026
36,866
37,835
37,698
38,241
39,006
38,773
38,859
39,096
39,169
39,360
39,973
40,072

27,189
27,488
27,523
27,219
28,071
28,526
30,303
31,600
33,036
33,676
34,072
33,951
33,951

10,745
11,035
10,843
11,375
11,372
10,707
10,732
10,380
10,713
10,713
10,534
12 ,466
12,497

1972--Jan.
Feb.

26
23

142,835
144,123

96,365
97,617

55,723
56,425

40,642
41,192

33,852
34,011

12,618
12,495

Week ending:
1972--March 1
8
15
22
29

144,285
144,739
143,661
144,027
144,863

98,099
98,459
98,665
oo,005
99,402

56,571
56,875
57,104
57,378
57,616

41,528
41,584
41,561
41.627
41,786

33,765
33.989
32,816
33,014
33,457

12,421
12,291
12,180
12,008
12,004


http://fraser.stlouisfed.org/ _1/ Negotiable certificates of deposit issued in denominations of $100,000 or more.
Federal Reserve Bank of St. Louis

•

•

•

•

•

•

•

•

•

•

•
*

TABLE 13
Member Bank Reserves
(Based on averages of daily figures; in millions of dollars')

:
Free reserves
(e xcess reserves minus borrowings)

D A T E

Reserve City Banks
New York
City of
City
Chicago

All
member

Other

Excess
Reserves
Country

All
member

Borrowings
All
member

Total reserves
held seasonally
adjusted
All
member

Monthly Averages:
1959--December
1960--December
1961--December
1962 - -December
1963--December
1964—December
1965—December
1966--December
1967--December
196 8--December
1969--December
1970--December

-424
669
419
268
209
168
-2
-165
107
-310
-829
-49

-109
10
-50
-62
19
-14
-70
-95
-22
-130
-203
9

-104
-4
-22
-11
21
-31
-8
-50
-5
-70
-9
3

-449
80
20
-52
-122
-103
-161
-159
-55
-180
-473
-222

237
583
471
394
334
315
238
140
187
70
-144
161

482
756
568
572
536
411
452
392
345
455
257
272

906
87
149
304
327
243
454
557
238
765
1,086
321

18,513
18,842
19,640
19,555
2 0,156
21,149
22,245
23,348
24,771
27,249
27,977
29,132

1971--Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec .

-91
-12 7
-120
-8
-18
-322
-658
-606
-295
-153
144
58

19
15
-90
-21
-67
-127
-110
-111
-29
-56
-71
-10

-6
19
-25
3
2
-39
-29
-10
2
-14
-7

-282
-333
-155
-154
-45
-173
-449
-437
-280
-144
-112
-57

178
172
150
164
92
17
-92
-58
24
45
53
132

279
201
199
140
312
131
162
198
206
207
263
165

370
328
319
148
330
453
820
804
501
360
406
107

29,390
29,600
29,779
29,991
30,327
30,527
30,639
30,743
31,073
30,882
30,970
31,246

1972--Jan.
Feb » r
Mar . p

153
91
150

8
-5
-13

-9
-5
-15

13
130
41

141
9
137

173
124
249

20
33
99

31,772
31,616
32,041

NOTE:

Aggregate reserve series has been adjusted to eliminate changes in percentage reserve requirements against deposits, but reserve
requirements on Euro-dollar borrowings are included beginning October 16, 1969, and requirements on bank-related commercial paper
are included beginning October 1, 1970.




t

\

REVISED SERIES

T A B L E 14-A
Liquid A s s e t Holdings of P r i v a t e D o m e s t i c N o n f i n a n e i a l Investors*
(Seasonally adjusted m o n t h l y a v e r a g e s ; amounts in b i l l i o n s of dollars, ratios in per c e n t )
Currency and d e p o s i t s
Time Deposits
Period

Total
liquid
assets
1

Total

2

1965--Dec.
1966--Dec.
1967--Dec.
1968--Dec.
1969--Dec.
1970--Dec.
1971--Dec.

557.7
588.2
637 .5
694.6
719.7
770.6
850.5

447.4

1971—March
June
Sept.
Dec.

792 .8
816.8
831.6
850.5

1971—Jan.
Feb .
March
April
May
June

Currency

3

Demand
deposits
4

Commercial
banks
5

Thrift
institutions
6

Total

7

Other liquid assets
U . S . shortterm
Negotiable
Commercial
marketable
paper
Treasury
CD's
securities
10
8
9

Savings
bonds
11

198. a

215.2
231.1

110.3
118.6
121.5
135.0
143.5
147.1

15.5
15.0
19.5
22.7
9.1
23.2

7.1
10.2
11.5
14.2
20.8
19.5

38.2
43.3
39.5
46.8
62.5
53.0

49.5
50.1
51.0
51.4
51.1
51.3

232.2

271.7

140.7

30.2

17.7

39.2

53.7

147.8
152.8
153.5
153.4

213.0
220.7
224.0
232 .2

242.9
254.1
263.1

139.2

26.2
26.7
28.1

17.2
16.4
16.1

43.9
42.7
41.7

51.8
52 .5
53.1

271.7

140.7

30.2

17.7

39.2

53.7

144.5
146.2
147.8
148.8
151.2
152.8

203.3
208.3
213.0
216.0
218.5
220.7

234.7
238.8
242.9
247.3
251.0
254.1

144.4
141.2
139.2
137.5
137.2
138.2

24.5
25.6

671.5
678.6

49.3
49.7
50.0
50.5
50.8
51.1

25.8
26.1
26.7

18.8
18.0
17 .2
16.9
16.8
16 .4

49.7
46.1
43.9
42.8
42 .0
42.7

51.4
51.6
51.8
52 .0
52.2
52.5

Dec. p

51.6
51.7
51.9
52.2
52.2
52.5

153.9
154.1
153.5
153 .3
153 .0
153.4

221.7

842.8
850.5

684.8
688.7
692.6
698.1
703.0
709.8

228.9
232 .2

257.5
260.5
263 .1
266 .1
268.9
271.7

138.6
138.9
138.9
140.2
139.8
140.7

27.3
27.5
28.1
29.2
28.9
30.2

15.8
15.6
16.1
16.7
16.8
17.7

42 .7
43.0
41 .7
41.0
40.6
39.2

52.7
52.9
53.1
53.3
53.5
53.7

1972--Jan. p
Feb. p

858.2
867.6

719.7
729.8

876.4

738.6

153.8
155.7
157.5

237.2
240.3
242.5

275.8

Mar. p

52.8
53.2
53.7

280.6
284.9

138.6
137.8
137.8

29.9
30.5
30.1

18.1
17.7
17.4

36.6
35.4
35.9

53.9
54.2
54.4

July
Aug.
Sept.
Oct. p




36.>
38.3
40.4
43.4
46.0
49.0
52.5

115.5
117.3
125.2
135.2
138.1
144.7
153.4

653.6
678.6
692.6
709.8

50.0
51.1
51.9
52.5

776.2
784.2
792 .8
800.0
808.6
816.8

631.8
643,0
653.6

823.3
827 .6
831.6

838.3

469.6
516.0
559.6
576.2
623.6
709.8

662.5

125.2
136.8
156.2
174.2
177.0

222.4
224.0

226.5

170.4
177.3
194.2

206.8

138.2
138.9

26.2


http://fraser.stlouisfed.org/
•
Federal
Reserve Bank of•St. Louis

TABLE 14-B

Currency
and demand
deposits to
liquid assets
12

Period

Bank
liability
to liquid
assets
13

Ratios
Time deposits
at thrift
institutions to
liquid assets
14

Liquid
assets
to GNP
15

Currency
and demand
deposits
to GNP
16

1965--Dec.
1966—Dec.
1967--Dec.
1968--Dec.
1969--Dec .
1970--Dec .
1971--Dec .

27.2
26.4
26.0
25.7
25.6
25.1
24.2

45.9
45.7
47.2
47.8
45.0
47.6
48.9

30.6
30.1
30.5
29.8
29.9
30.0
31.9

78.3
76.8
77.2
77.1
76.5
76.5
77.9

21.6
20.7
20.3
19.9
19.7
19.5
19.3

1971--March
June
Sept.
Dec.

24.9
25.0
24.7
24.2

48.8
49.0
48.8
48.9

30.6
31.1
31.6
31.9

76.8
77.7
78.6
78.6

19.2
19.4
19.5
19.2

1971--Jan.
Feb .
March
April
May
June

25.0
25.0
24.9
24.9
25.0
25.0

48.0
48.5
48.8
48.8
48.?
49.0

30.2
30.5
30.6
30.9
31.0
31.1

n.a.
n.a.
n .a.
n.a.
n .a.
n .a.

n.a.
n.a .
n.a .
n.a.
n.a.
n.a .

25 .0
24.9
24.7
24.5
24.3
24.2

48.9
48.8
48.8
48.8
48.7
48.9

31.3
31.5
31.6
31.7
31.9
31.9

n.a.
n.a .
n.a .
n .a.
n.a.
n .a .

n.a.
n.a.
n.a.
n.a.
n .a .
n.a.

24.1
24.1
24.1

49.1
49.2
49.1

32.1
32.3
32.5

n.a.
n .a .
n .a.

n.a.
n .a.
n .a.

July
Aug.
Sept.
Oct. p
Nov. p
Dec. p
1972--Jan. p
Feb. p
March p

•

•

•

•

#

#

•

e

e




TABLE 14-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 M. held by domestic nonfinancial
sectors.
Deposits at nonbank thrift institutions, as published
in money stock statistics, plus monthly-average deposits
at credit unions.
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.
Sum of columns 4, 5, and 8 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 and quarterly GNP.