The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
#
tr
#
t*>X V
535?
August 17, i960 /
BASKING AM? MONETAE? EEVELOPMEHTS IN JULY i960
Bank credit. Total loans and Investments at all commercial >wwVa
increased $2 billion further in July, somewhat more than in the comparable
period of 1959 and substantially more than in other recent years• This was
wholly accounted for by expansion in holdings of U. S. Government securities,
which increased $2.5 billion over the month. Large bank acquisitions were
made at the time of the midmonth financing 1/, and during the second half of
July, banks sold only a comparatively small portion of the securities acquired.
Holdings of other securities rose slightly further in July; these holdings
had begun to increase in Jung following large reductions earlier in the year.
Bank loans declined in July largely due to redactions in business loans.
Credit growth at both reporting banks in leading cities and at
other banks (largely country and nonmember) was larger than in July of most
other recent years. During the preceding three months credit had expanded
more than usual at city banks but at other banks credit growth had been cons iderably slover than in past years •
So far this year, credit has declined about $1 billion at all commercial banks. Credit had also declined in the comparable period of 1956 but
had increased slightly in 1955 and 1959. Loan growth, however, has been only
one-third to one-half as much as that In most other recent years of high
economic activity while reductions in holdings of U. S. Government securities
have been much smaller. Credit reductions at city banks and credit increases
at other banks were somewhat smaller than usual in the January-July i960
period.
Business loans at city banks declined $660 million over the four
weeks ending July 27, a somewhat larger reduction than had occurred in the
comparable weeks of 1957 and 1958. In 1955 and 1959, loans had increased
somewhat in this period; the rise last year, however, was related to a
contraseasonal expansion in loans to metals processors prior to the steel
strike. Over the first seven months of this year, growth in business loans
was well below expansion in similar periods of 1955, 1956, and 1959.
During July, an unusually sharp reduction In loans to metals
companies accounted for about half the total business loan decline at city
banks. Loans to metals companies had increased more substantially than usual
during the first half of i960* Bet repayments by food processors continued
larger than seasonal in July, and loans to commodity dealers declined further
whereas usually they increase in this period. Loans to trade concerns which
had shown record growth in early i960 declined somewhat more than usual in
July. Loans to textile manufacturers, which had also been expanding more
than usual, rose only moderately further in July.
13
' ° ° " * r e l a l tanks *ere allotted practically the entire $3.5
Not
for publication
|
LA,3
Consumer loans at all commercial banks are estimated to have
increased $100 million further in July, about in line with other recent
years. So far this year, expansion in these loans, $1.1 billion, has been
below last year'a record growth but about the sane as In earlier comparable
years. Real estate loans continued to decline at city banks in July but
probably continued to increase at other banks. Such loans have risen by
$400 million so far this year, which is only one-fourth to one-half as large
as in other years of high economic activity.
Deposit ratios. The ratio of total loans to total deposits at all
commercial banks declined slightly from the postwar peak in June to 56.2 per
cent in July. The ratio declined at all classes of member banks. The ratio
of commercial bank holdings of U. S. Government securities maturing under
one year to deposits declined further in June to 4.1 per cent (July data
not yet available). This ratio is now about the same as the recent low in
the spring of 1956.
Deposits and currency. Seasonally adjusted demand deposit and
currency holdings of businesses and individuals increased $300 million further
in July following a $600 million rise in June. At the month end, the active
money supply was $2.5 billion or about 2 per cent below the year-ago level.
On the other hand, U. S. Government deposits, which have shown only a small
decline over the past two months following an unusually sharp rise in May,
were about $1.5 billion above the July 1959 level. Also, time deposits at
commercial banks increased $2.7 billion over the year ending July. Consequently, the total of currency, adjusted demand, and other deposits at
commercial banks was about $1.5 billion, or about three-fourths of a per
cent, above the level in July a year ago.
. . Seasonally adjusted semimonthly averages of daily demand deposits
adjusted at member banks, which had increased slightly during the second
half of June, increased $1.2 billion between the second half of June and
the second half of July.
deposits at commercial banks increased $500 million in July
seasonally adjusted basis, this represented growth of $700 million,
following an $800 million rise in June. These deposits had shown relatively
moderate growth over most of the earlier part of the year. Deposits at
mutual savings banks increased slightly further in July both on an unadjusted
and on a seasonally adjusted basis. So far this year, however, growth in
these deposits has been considerably less than usual#
.
... D e P o s It turnover. The seasonally adjusted annual rate of demand
deposit turnover at banks outside New York and other financial centers
June to 25,5
!^+ v
~
^ J u 3 ^* ^
July level was about 3 per
cent above that of a year ago but lower than in most other recent months.
Hot for publication
Liquid assets held by the public. Public holdings of liquid
assets, seasonally adjusted, increased by $2 billion in June following a
decline of $3-1/2 billion in the preceding month. At the end of June
liquid assets held by the public were somewhat above the level reached at
the beginning of the year and 1-1/2 per cent above; a year ago. Substantial
increases in June in commercial bank time deposits and savings a M loan
shares were accompanied by smaller gains in the privately held money supply
and In United States Government securities maturing within one year.
Bank reserves. Free reserves of all member banks averaged $120
million in July compared with $40 million in June. Borrowings declined
further to $390 million and excess reserves rose somewhat to $510 million.
An increase in country bank free reserves mainly accounted for the improvement in reserve positions. Seasonally adjusted total reserves (monthly
averages of daily figures) at all member banks, which had been rising since
April, rose further in July.
During July, on a daily average basis, reserves were supplied
principally by an increase of $500 million in Federal Reserve holdings of
%??y e r n m e i r t securities, largely outright purchases but also including
$90 million under repurchase agreements. Reserves were absorbed through a
C
»iTt nC ^ outflow of $250 million and an accelerated gold outflow of $100
Aititon* During the January-June period, the gold outflow had totaled only
«pl40 million and this had been offset in its effect on reserves by a like
reduction in foreign deposits at the Reserve Banks. Required reserves
increased $180 million in July as a sharp increase associated with the
mid-July financing was offset In part by prior and subsequent declines.
Discount rate. Effective August 12, with the approval of the
Board of Governors, the Federal Reserve Banks of New York, Cleveland,
Richmond, and Kansas City.reduced their discount rates from 3-1/2 per cent
to 3 per cent. By August 15, Minneapolis had also reduced the rate.
- „
Bank reserves and reserve requirements. On August 8, the Board
o
ovemors amended Regulation D relating to bank reserves and reserve
requirements. Effective August 25, country banks will be permitted to
count in meeting their reserve requirements any vault cash they hold in
excess of 2-1/2 per cent of their net demand deposits. At present, they
can count only vault cash held in excess of k per cent of net demand
deposits. Effective September 1, reserve city and central reserve city
banks will be permitted to count vault cash in excess of 1 per cent of
their net demand deposits, instead of the present 2 per cent. The above
changes will release (estimated) $480 million of reserves, of which somewhat more than half will be at countiy banks and almost all of the remainder
ax reserve city banks,
. , Effective September 1, the reserve requirements of central reserve
city banks against their net demand deposits will be reduced from 18 per
cent to 17-1/2 per cent. This will release about $125 million of reserves.
Banking Section,
Division of Research and Statistics,
Board of Governors of the Federal Reserve System.
- 4 Table 1
L.U.3
Estimated Changes In Loans and Investments at All Commercial Banks
(In billions of dollars)
—
Item
End of June to last Wednesdayr of July
I960 2/
w
Total loans (less bank)
0*8
^Business (excluding nonbank f inan™ clal or sales finance companies) 2/ — 0*8
Nonbank financial
— 0*1
Sales finance companies
n# a*
(Business (including nonbank financial or sales finance companies))
(- 0.9)
^Beal estate
+ 0.1
™ Security
i/
Agricultural
1/1
Consumer
+ T5.1
All other 2/
.*• 0.1
S. Government securities
Other securities
Total (less bank)
Item
1955
* 1.0
- 0.4
+ 0.6
- 0.6
n.a.
- 0.3
- 0.1
n.a.
- 0.2
+ 0.2
n.a.
1/
1958 1/
1957 2/
+ 1.1
- 1.4
1/
+ 0.3
n.a,
- 0.8
n.a.
- 0.1
(4
+
+
•
+
+
0.3)
0.2
0.1
0.1
0.2
0.1
(-0.9) (- 0.9) (- 0.3) (+ 0.2)
+ 0.2
+ 0.1
+ 0.1
+ 0.2
- 0.2
1/
- 0.1
- 0.9
1/
- 0.1
- 0.1
- 0.2
+ 0.1
+ 0.1
+ 0.1
+ 0.2
1/
- 0.1
1/
+ 0.1
+ 2.5
+ 0.2
- 0.5
+ 0.8
- 0.4
+ 0.4
+ 0.1
1/
- 0.1
1/
- 0.2
- 0.1
- 2.0
- 0.2
- 1.0
+ 1.0
+ 1.9
+ 1.5
End of June to last Wednesday of July
195^
Total loans (less bank)
- 0.6
Business (excluding nonbank finan^ clal or sales finance companies) 2/ - 0.3
•Nonbank financial
n.a.
Sales finance companies
1/
(Business (including nonbank f inan^
clal or sales finance companies)) (- 0.3)
Real estate
+ 0.2
^Security
- 0.4
"Agricultural
Consumer
Hi
All other 2/
+ 0.1
U. S. Government securities
+ 0.8
Sther securities
+ 0.2
m
1956
1959 1/
1953
1952
1951
1950
19^9
+ 0.3
+ 0.2
0,6
+ 1*0
- 0.7
+ 0.1
- 0.2
1/
1/
n.a.
n.a.
n.a.
n.a.
n.a.
n.a •
n.a.
n.a.
n.a.
n.a.
n.a.
( 0.1) (- 0.2)
+
+ 0.1 + 0.1
+ 0.2
1/
+ 0.1 + 0.1
+ 0.1 + 0.1
1/
+ 4.6
1/
+
0.1
(+
+
0.3) (+ 0.4)
0.1
+ 0.2
0.1
+ 0.3
- 0.1
0.1
1/
+ 0.2
- 0.2
+ 0.1
(n.a.)
n.a.
n.a,
n.a.
+ 0.1
n.a.
4 1.7
-
+ 0.2
- 0.8
+ 1.2
+ 0.1
+ 0.1
+ 0.2
+ 0.3
+ 0.4
+ 2.1
+ 5.0
0.3
+ 0.3
+ 0.7
Total (less bank)
wLm
Less than $50 million. n.a. Not available. 2/ Data are on revised basis
beginning June 1959 and exclude loans to nonbank financial institutions. For
previous years, loans to sales finance companies at weekly reporting banks have been
shown separately to provide roughly comparable changes in business loans on revised
basis. 3/ Included in business and "other loans", h/ See above data.
Not for publication
L.lu3
- 5 Table 1
Estimated Changes in Loans and Divestments at All Commercial Banks
(in billions or dollars;
Item
Total loans (less bank)
^Business (excluding nonbank financial or sales finance companies) 2/
Nonbank financial
Sales finance companies
(Business (including nonbank financial or sales finance companies))
(pReal estate
Security
Agricultural
Consumer
All other 2/
S. Government securities
Other securities
Total (IQSS bank)
•
:
Item
End of December to last Wednesday of July
I960 3/
1959 3 /
1958 3/
1957 3 /
+ 1.9
+ 6.it
- 1.0
+ 1.8
|/+ 0.3
n.a. b/+ 0*3
— 1.6
+ 0.9
- 0*1
(+
+
+
0*8)
O.it
1.1
o.it
> 1.1
+ O.it
(+
+
+
+
+
2.it)
1.8
0.5
0.1
1.7
0.8
1955
+ l.lt
+ 3.8
+ 5.0
+ 1.0
1
1956
+ 3.1
+ 1.6
n.a.
n.a.
- 1.0
(+
+
+
2.6)
0.8
0.3
0.5
- 0.1
(+
+
—
+
+
0.9)
0.2
0.6
0.3
0.9
0*2
n.a.
- 0.5
(+
+
+
+
2.6)
1.1
0.7
0.3
1.1
0.2
n.a.
+ 0.6
(+ 2.2)
+ 1.6
- l{o
+ l.lt
+ 0.7
- 2.3
- 5.3
+ 5.9
- 2.3
- 5.1t
- 5.3
- 0.5
y
+ 2.0
+ 0.5
— O.lt
+ o.it
- 0.9
+ 1.3
+ 6*9
- 0*it
- 2.0
+ 0.1
Bad of December to last Wednesday of July
1951
Total loans (less bank)
Business (excluding nonbank finanS cial or sales finance companies) 2/
Nonbank financial
~
~
Sales finance companies
(Business (including nonbank financial or sales finance companies))
Real estate
^Security
Agricultural
Consumer
All other 2/
U. So Government securities
%ther securities
1953
1952
1951
195b
19h9
— 0*8
+ 1.2
+ 1.7
+ 1.9
+ 2.8
- 2.2
- 1.2
- 0.3
— 0.6
n.a.
n.a.
n.a.
n.a.
n.a.
(- l.lt) ( - O.lt) (- 0*8) (+ 1.5)
+ 0.7
+ 0.6
+ 0.7
o.5
- 0.3
- 0.2
o.5
— O.lt
+ 0.1
- 0*1
O.it
+ 0.3
- 0.1
+ 1.3
0.9
(+ O.S)
+ 1.1
n.a.
- 0.2
n.a.
- 0.1
n.a.
— 0*2
+ 0*2
+ 0.2
- 0.1
+ l.lt
+ 1.0
+ 0.2
+ 0.8
+ 0.3
( n.a.)
n*a.
n.a.
n.a.
+ O.it
n.a.
3.3
- 2.0
+ 1.8
+ O.it
+ 1.2
+ 0.6
+ 0.2
0.2
+ 0*9
He&e
n*a.
n#a.
—
h
+ 0.5
- 0.3
+ 1.0
+ 1.1
+ 1.3
Total (less bank)
+ 3.9
- 1.0 + 1.9
IASS than $50 million* n.a. Not available. 2/ Data a$>s on revised basis
beginning June 1959 and exclude loans to nonbank financial institutions. For
previous years, loans to sales finance companies at weekly reporting banks have been
shown separately to provide roughly comparable changes in business loans on revised
basis. 3/ Included in business and "other loans", k/ See above data.
5/ July
6/ January - June
""
""
Not for publication
- 6 -
L.U.3
Table 2
Changes in Loans and Investments at Weekly Reporting
Ifenfeer Banks and HonreportiBgBaBkg
"
^
'
Last Wednesday in June to last Wednesday in July
Item
1960
Weekly reporting banks
190
1958
1957
1956
1955
*• 0*8
* 2.0
* 0.2
+ 1.0
+ 0.2
2/
+ 1.2
—
—
-
- 0.9
+ 0.3
2/,
- 0.6
- O.lt
- o.5
- 0.2
-1.1
+ o.l
+ 0.1
- 0.1
2/
+ 0.1
2/
+ 6 3
1/
Total loans
U. S. Government securities
Other securities
Total loans 'and investments
* to.
1.6
0.6
0.1
2.3
r i r
Noareiei^ting banks 1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
-2/
* ov£
- 0.1
* 0.6
JL
+ 0.1
+ 0.2
+ 0.1
+ 0.5
• 6.E
+ 0.2
+ 0.3
- 0.1
Last Wednesday in June to last Wednesday in July
Item
195k
Weekly reporting banks
1953
1952
1951
1956
191*9
—
+
+
-
0.7
0.5
0.1
o.f
+ 0.2
+ 3.5
+ 0.1
2/
+ 0.8
+ 0.2
+ 1.6
—
+
-
+
—
+
+
— 0.9
+
>
+
+
0.1
0.3
0.1
6.6
+
+
+
- 0*2
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
TXB
o.lt
0.2
0.1
o.5
0.8
0.9
0.2
6.1
+ leit
+ 0.3
T O T
Nonreporting banks 1/
Total loans
U. S. Government
Other securities
Total loans and investments
+ 0.1
+ i.i
- 0.1
0.2
0.9
0.1
1.1
+ 0.2
+ Oi.
.j
+ 0.1
+ V
6.2
2/
+ 0.2
+ 0.2
- 0.2
2/
- 0.1
1/Beginning 1959a changes are on revised basis. Changes do not correspond exactly with
published data for weekly reporting banks because loans to foreign banks have been
excluded from this tabulation.
2/ Less than $50 million.
Not for publication
- 7 Table 2
L.U.3
Changes in $eans and Investments *t Weekly Reporting
Bid of December to last Wednesday in July
Item
1960
Weekly reporting banks
1959
1958
- O.tt
- Ol.
.j
+ 3.3
- il.ll
— 0.1
-1.1
+
+
+
1957
1956
1955
+ 2.3
l.li
- 0.2
— l.U
+ 0.1
- It.l
lt.5
ZT3
— o*5
•- 2.2
+
+
-
3.1
it. 7
0.1
1.6
+
+
+
+
+
+
+
—
+
+
1.9
0.6
0.3
1.7
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
- 0.3
- 1.(5
2.5
5.6
Bmr###td3ig banks 1/
total loans
U. S. Government securities
Other securities
Total loans and investments
+ 2.3
- 1.9
- °-1
* 0.2
$ t n
1h
2.1;
+ 1.5
+ 0.3
+ 0.6
+
1.6
0.9
O.it
1.2
1.5
1.3
0.1
0.2
Bid of December to last Wednesday in July
Item
1951
Weekly reporting banks
1953
1952
1951
1950
19h9
- 2.1
2/
- 0.3
+ o.U
+ 1.0
+ 0.7
+
+
-
+ 0.9
+ 0.6
- 1-7
: 1:1
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
+ l.k
+ Oil
+ 0.8
+ 0.1
- 0.2
+ 1.3
— o*5
+ 0.2
VT.T5
+
+
+
+
0.9
2.7
0.1
1.7
+ 0.6
+ 0.7
Nonreporting banks 1/
Total loans
U. $. Government
Other securities
Total loans and investments
1.2
0.2
0.1
1.3
+ 1.3
+ 1.0
+ 0.it
+ 0.1
+ 7 3
— 0.6
+ 0.3
+ 0.7
+
+
+
1.3
0.3
0.3
1.3
+ 0.3
— 0.8
-rb
o
.I *
*7^
" U,5U
uu no-o correspond exactly with
publxshed data for weekly reporting banks because loans to foreign banks have been
excluded from this tabulation. Also call report data for weekly reporting banks for
December 31, 1959 have been used.
2/ Less than $5>0 million.
3/ As a result of bank structure changes in January and April 1959, total credit increased
about $700 millions total loans SUOO million; U. S. Government securities, $200 million
and other securities, $100 million.
Not for publication
f
- 8
'L.U.3
-
Table 3
Changes in Commercial and Industrial Loans 1/
(in millions of dollars)
Business of Borrower
Last Wednesday in June to last Wednesday in J&Ly 6/
I960 2/19# 6/1958 6A957 1956
w
- 85
6/1953 6/1952
1251
195k
* 5
+ 66
- 83
+ 37
+ 13
+ 71
— 10
T15
+ 30
-152
+ 33
-100
* 65
« 10
- 6
rgi
=31
T3&
+ 30
T H
y
-389
-323
-20b
- 37
- lt
i
+ 38
- 70
T"2T
+ 66
-332
ZZ2E
-130
^ 7
+ 27
•=m
+132
-275
+ 96
+ 22
t 25
- 79
+ 50
+ 6
- 26
- 13
+ 17
• 5
+ 29
• 6h
+ 28
+ 36
+ 29
+ lt
i
+ 28
+ 26
+ 7
- 20
+ 5
+ 73
+ i7
t
+ 21
+ 38
+ 17
* 75
— 28
- 16
+ 29
+ 2
+ 36
- 13
- 88
2
- 20
- 96
+ 10
+ 16
+ 15
+ 56
- 5
+ 11
+ 2
+ 7
+
5
-129
+ 11
(
- 31
+ 21
I
+ 65
- 29
+ 12
+ 13
-52ii
-II4O
+ 55
+ W
-782
- 76
-$0k
- 63
-139
— 90
+125
/-100
/-100
-2ll5
/-115
+ 61*
- 6
+ 25
- 7
Total change
-66h
+103
-858
-567
229 /+ 25 ^-360
+ 58
+ 18
Total change excluding
sales finance
-661
+103
—1*69
-216
25 Y + 62 ^-3U6
+ 20
+ 88
Food processors
Commodity dealers
Trade concerns
Total
-10li
- 9
- U5
Sales finance
All other - total
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc.
Other manufacturing
and mining
Public utilities
Construction
All other types of
business
Classified
Unclassified
60
ii
ji
*• 6
H
-
+Hi2
+ 66
+ 18
- 6U
1/ Prior to week ending January 11, 1956, includes changes in agricultural loans.
2/ Includes changes on unrevised basis for week of July 1 and revised basis there
thereafter.
Not included in business loans on revised basis,
P Includes CCC certificates of interest which are estimated to have declined $100
million.
5/ Includes COG certificates of interest which are estimated to have declined S 4 million.
IO
%/ In order to keep comparisons on a four-week basis the following dates were used:
~ 1959, July 1-29$ 1958, July 2-30j 1957, July 3-31? 1953, July 1-29? 1952, July 2-30.
9
Not for publication
- 9 -
Le4»3
Table 3
Changes in Commercial and industrial Loans 1/
(In millions of dollars)
~
*
Business of Borrower
food processors
Commodity dealers
Trade concerns
Total
Sales finance
All other - total
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc.
Other manufacturing
and mining
Public utilities
Construction
All other types of
business
Classified
Unclassified
Last Wednesday in December to last Wednesday in July
1960
2/19#
- 662 - 579
- 686 - 320
+ 289
-tMI
195®
1957
1956
1955
1954
- 775
- 263
- 169
- 538
- 497
- 402
- 244
+ 167
+
-
- 500 - 740 - 891
- 297 - 608 - 575
- 67 + 192 - 138
- 610 -T72o7
+459 - 968 +
3/
1
+ 298
+ 268
+
- 156
- 225
62
+
97
+ 1*53 *1,130 •2,543
+ 63 + 190 - 247
-
+2,989 +1,655
• + 706 +1,241 + l3l
- 06
•TTO
+ 736 +1,119
+ M
+1,002
+ 185
- 31
+ 168
+ 263
-
53
- 249
+ 267
+ 488
+ 248
+ 331
+
-
91
75
+ 182
2
+ 445
+ 337
+ 39
+ 386
+
+ 169
14 + 106 + 82
38 + 67 - 167
+
87
+
13
+
24
57
+ 172
+ 208
+
77
+
1
+
25
223
429
Total change
+ $16
+1,320
•2,790
+ 739 +1,985 +1,382 -1,559
- 277 -+ 29
f,™
i f / 2 7 9 2/
W'
+ 462 +2,014 *1,103
Total change excluding
sales finance
+ 516
+ 865
•1,822
+ 376 +2,539 IZ+551 -1,667
f
-1,604
- 189
+ 361 + 261 + 146 +
- 68 - 94 - 303 +
+ 101 + 10ii + 6 7 + 16
- 85B
1952
+ 552
- 525
- 368 +1,730
r #
- 131
+ 160
86
605
395
176
8 24
1953
- 52
+ 205
- k73 - 735
- 274
- 101
- 747
— 836
- 694
- 587
Revised basis after July 1,
Not included in business loans on revised basis after July 1.
4/ Includes CCC certificates of interest which are estimated to have declined $620
million•
'
•
5/ Includes CCC certificates of interest which are estimated to have increased $25 miTHmn
6/ January = June
Hot for publication
- 10 -
L.U.3
Table U
Estimated Changes in Deposits and Currency
(In Sllllons of dollars)
End of June to last Wednesday of July
Item
Seasonally adjusted data l/
Demand deposits adjusted
Currency outside banks
Total
Seasonally unadjusted data 1/
Demand deposits adjusted
Currency outside banks
Total
Time deposits
Commercial banks
Mutual savings banks
U. S. Government deposits
Total
Factors affecting deposits
and currency
Bank loans and investments
other than U. S. Govt, sec.3/
Commercial
""
Mutual savings
Bank holdings of U. S.
Government securities:
Federal Reserve
Commercial
Mutual saving and other
Gold stock and foreign
deposits at F. R. Banks
Other factors
1/
~
2/
3/
""
i960
1959
1958
1957
1956
1955
+ 0.2
.
•01
+ 0.8
— 0.1
.jLL—
+ 0.8
M - 0.1
0.9
0.1
-1.0
4 0.1
+153
4 0.3
.2/_
4 0.3
+ 2.1
+ 2.0
+ 2.4
+1.0
+ T7£
4 0.6
+ 0.5
+ 0.1
— 0.8
TT&
+ 2.1
4-2.5
+1.0
+ 0.3
+ 0.4
2/
-1.0
+ 0.3
2/
4 0.1
- 0.3
- 0.1
- 0.1
+ 0.4
+ 2.2
4 0.1
+ 0.8
+ 0.7
4 0.1
- 5.4
- 2.1
+ 0.5
- 0.9
" ^ 4
4 0.1
%
- 1.9
- 2.2
- 0.2
- 0.1
+ 0.7
- 0.
4 0.
2/
- 0.1
0.1
4
4 0.7
4 1.1
(signs indicate effect on deposits and currency)
a08
.
4 0 *2
+ 2.8
Til?
+ 2.5
- 0.1
- 0.1
2/
4 1.5
4 1.3
4 0.1
- 1.4
- 1.5
4-0.3'
- 0,;'
4 0.8
4 0.6
4.0.2
- 0.1
•
- 0.1
- 0.5
4 0.1
- 0.8
- i.a
4 0.2
• 1
41,2
4 0.4
4 0.8
- 0.1
- 0.8
- 0.6
0.6
0.5
0.2
- 0.6-
4 1.0
4 0.5
4 0.4
4 0.2
"^0l4
- 0.4
2/
\.
- 0.1
2/
- 0.2
4 0.1
4 0.1
- 0.2
4 0.1
- 0.7
2/
- 0.1
- 0.4
Seasonally adjusted data are for last Wednesday throughout} unadjusted data are for
last Wednesday except In case of June and December call dates, when available.
Less than $$0 million.
Total includes foreign loans on gold, holdings of bankers' acceptances at the
Federal Reserve, and loans to foreign banks; changes in these items are generally
relatively small. Even if there were no changes in other items# changes at commercial banks exclude all inteitank loans, domestic and foreign, while total loans
exclude only those to domestic banks. In addition there is •some lack of
synchronization in reporting asset and liability items used in computing "loans net™.
Not for publication
- 11 -
L.W
Table k
Estimated Changes in Deposits and Currency
(In billions of dollars)
Item
Seasonally adjusted data 1/
Demand deposits adjusted
Currency outside banks
Total
Seasonally unadjusted data. 1/
Demand deposits adjusted
Currency outside banks
Total
Time deposits
Commercial banks
Mutual savings banks
U. S. Government deposits
Total
Factors affecting deposits
and currency
Bank loand and investments
other than U. S. Govt, sec.3/
Commercial
~"
Mutual savings
Bank holdings of U. S.
Government securities:
Federal Reserve
Commercial
Mutual saving and other
Gold stock and foreign
deposits at F. R. Banks
Other factors
End of December to last Wednesday of July
1959 y
I960
2/
?
177
19#
+ 2.2
+ 2.5
+ 0.2
+ 2.k
2/
- 1.1
— 2.8
- 0,3
- O.it
— 6»it
+ 2.1t
- 3.1
+ 2.5
— 2.6
+ 7.3
+ 0.5
+ 0.5
+ 0.7
+ 1,2
- 5.3
+ 2.1
+ 1.2
+ 2.1
+ 0.1
- 2.2
+ 6.2
+ 0.1
+ lt.9
1957
01
.
O.li
075
1956
«
+ 1.8
+ 0.2
+ 2.0
- It. 8
- 0.5
- iu7
+ It. 5
+ 3.8
+ 0.9
0.3
+ 2.3
+ 1.3
- 1.2
1955
- 0.9
+ 1.1
-02
.
- 3.5
- 2.7
- 0.8
-
+18
.
+ 0.9
+ 1.1
+ l.lt
- 0.2
(signs indicate effect
+ 1.8
+ 6.8
+ 1.1
+ 6.It
+ 0.9
+ 1.9
— 2*8
- 5.2
+ 6*3
5/
-*.3
+ 0.2
-.5.3
+ 2.7
+ 1.0
+ 3.0
+ 1.9
+ 1,3
+ 5.9
n o
— 0.1
- 0.2
-2.3
- 0.3
- 0.1
- 0.9
- 1#5
r 2.6
— 0.6
- 0.6
+1.5
- 62
.
+ 6.1
— 0.5
- 1.7
+ 1.5
+ 6.7
+ m
+ 06
.
- 5.b
- 5.3
+ 0.3
- l.It
2/
- 0.7
- 0.3
- 0.2
" last Wednesday except in case of June and December call dates, when available.
*
2/ less than $50 million.
3/ Total includes foreign loans on gold, holdings of bankers1 acceptances at the
—
Federal Reserve, and loans to foreign banks; changes in these items are generally
relatively small. Even if there were no changes in other items, changes at commercial banks exclude all interbank loans, domestic and foreign, while total loans
exclude only those to domestic banks. In addition there is 'some lack of
synchronization in reporting asset and liability items used in computing "loans net".
V In January and April 1959 as a result of bank structure changes, demand deposits
adjusted at commercial banks increased $200 million and time deposits $500 million.
Deposits at mutual savings banks declined $300 million.
Not for publication
t
-
1.4.3
- 12 -
Table 5
Free Reserves and Total Reserves Held
(based on averages of daily figures} in millions of dollars)
Bate
Total reserves
held seasonally
adjusted
All
Central reserve city Reserve
All
Country
member New York 1 Chicago
city
member
Free reserves
02xcess reserves minus borrowings)
Monthly averages:
-
11
*
1959:
Jan.
Feb.
Mar.
Apr.
%iy
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
•
59
1*7
11*0
258
318
513
557
535
1*93
159
U35
1*25
I960: Jan.
Feb.
Mar.
Apr.
May
June
July
- 360
- 361
- 219
- 195
- 33
111
119
-
80
-
32
-
65
-
- 197
268
18,602
223
195
281
202
18,706
18,716
18,615
53
-
28
16
-
89
-
51
15
151*
225
227
210
181*
109
CO
CO
Dec.
1
1958$
-
50
- 26
- 122
- 61*
l
- Il
- 63
-
-
1*7
35
1*
0
82
62
—
«»
•
191*
178
-
18,636
18,595
18,61*9
338
369
119
**
11*5
169
171
180
237
257
197
182
190
11*1*
201*
288
69
229
291
31*8
252
338
535
1*82
121*
-
31
-
1*5
16
3
-
1*9
59
39
1*39
381
252
251*
173
120
127
73
1
*
13
21*
17
1
- 18
- 1*2
1
*
- 77
- 21
- 100
- 1*9
- 195
- 39
- 161
- 126
- 60
1
— 100
-
18,66b
133
101
- 1*20
- 391
- 101*
- 90
- 126
- 152
228
281*
360
18,433
18,#9
18,666
18,677
18,671
18,691
18,360
18,228
18,101*
11%I
18,386
Meekly averages:
June 29
July 6
13
20
27
Aug. 3
Notes
-
71*
5
'231*
88
125
179
-
I
I
Data for second Kali of duly and August are prmiiminqfyy
Not for publication
i
n.a.
n.a.
n.a.
n.a.
n.a.
- 13 -
L.it.3
Table 6
Changes In Ifenfeer Bank Reserves, with Relevant Factors
(Monthly average of daily figures; in millions of dollars)
Item
Member bank reserves
Required reserves 1/
Effect of change in
requirements
Effect of deposit change
Excess reserve 1/
Total reserves Held 1/
Gash allowed as reserves 1/
Reserve balances
July
January - July
Tear ending July
I960
1959
I960
1959
I960
1959
+ 180
+ 228
- bh2
- 110
- 26h
, 319
+
+ 180
+ 228
8
+ 220
- Uh2
110
118
- 26it
+ 108
+ 319
- 257
+ *62
+
+
111
+ 221
+~T3T
+ 25
- h!7
+
3
- h20
- 228
T357
- 1*63
- 285
-
- 173
+ 20?
+ 220
Total reserves held, seasonally
adjusted
Principal factors
+ 111
+ 126
Currency in circulation
Gold stock and foreign
accounts
Treasury operations
\ Federal Reserve float
Other factors
- 2h7
- 233
+ 601
+ 321
- 12U
+
-
- 3W
- 89
+ 67
- 285
- 896
-373
Effect of above
factors on reserves
23
*
+___62
1*3
'signs indicate effect on reserves)
90
Hi
32
+ 102
+ 23U
* 11
+
61
+ 256
- 173
+ 68
+ 118
z-2
- 785
-1,578
+ 371
+ 227
+ 321
+ 81
- 253
-269
+ 550
- 730
«
8i*
-1,987
+ 158
+ h90
- 972
+ 502
- 382
+2,050
+ 195
+ 459
+ 110
+ 197
+1.20&
+1,136
Federal Reserve loans and
investments:
Total
U. Se Govt, securities
Outright
Repurchase agreements
Acceptances
Discounts and advances:
To member banks
To others
1/ Preliminary for July I960.
Not for publication
n m
+ 92
-
37
+
5i
I
+
36
-
5
- 2tl7
•=im
+ 55
- 32
- 518
-
5
• 130
-
28
-
13
+ 1*00
+ 5
+T5?
+
+
30
2
- 569
-
12
+
-
68
1*
1
+ 81*8
+ 12
laujue I
Liquid Assets Held by the Public — Seasonally Adjusted Series
(amounts in billions of dollars; ratios expressed as percentages)
End of
month
or year
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959:
Total
liquid
assets
(2+3+8)
271.8
28U.0
114.6
120.2
132.7
296.2
308.3
318.0
126.6
130.0
124.1
Ili0.6
330.3
339.9
351.7
369.7
May
June
July
August
September
October
November
December
i k u
383.8
385.8
387.0
387.8
387.8
388.2
388.4
January
February
March p
April p
May p
June p
389.2
389.1
390.3
390.4
I960:
Demand
Personal-type savings
deposits
Total
adjusted personalTime deposits Savings tJ.S.
and
type
adjusted' 1/
and
Govt,
currency savings C a i f r 1 kutual
cfnet
m
loan
savings
outside (U+5+6+7) cial
savings
shares bonds
banks 1/
banks bank 2/
- M .
tt-
386.8
388.8
133.5
134.5
133.6
138.8
140.6
140.9
Xhl.2
11*0.9
140.8
140.4
1U0.1
140.2
lUo.o
139.1
139.5
139.4
137.6
138,6
129.0
148.6
158.1
166.4
174.1
182.8
196.7
200.3
200.9
201.3
202.1
202*8
202.9
203.7
204.1
204.1
201.5
205.2
205.7
206.5
207.6
Jl
36.3
37.8
40.6
23.0
23.6
25.2
14.0
16.1
19.2
22.8
16.8
26.7
_28.5
27.2
U8.5
50.7
56%
63.4
31.6
33.0
35.1
37.0
Ul.7
47.7
35.5
35.6
35.6
35.7
35.8
35.7
35.8
35.9
50.4
51.0
51.5
52.1
U3.6
6U6
J.
64.8
64.9
65.2
65.6
65.5
65.9
65^
6565,
65 <
66,
66,
66,
30.0
32.8
35.8
36.0
36.1
36.1
36.0
32.0
52.6
53.2
53.7
54.3
514.-9
55.4
55.9
56.4
57.1
57.6
U. S. Govt
securities
maturing
within ode
yearrg/
31.1
3X.5
33.1
29.9
30.1*
31.3
35.3
34.2-
49.8
49.5
49.3
19.1
48.8
U8.5
48.3
U8.u
39.5
1*2.0
1*3.3
11.0
**
1*1*.2
44.5
44.4
44.±
1*7.7
1*7.1*
1*7.2
1*5.1
1*5.5
1*5.6
1*5.3
1*7.1
1*3.0
1*7.6
1*7.2
127
*.
1
(2 + 4)
8
28.2
55.7
55.2
55.6
55.5
55.6
55.9
54.8
51.7
50.5
Commercial
bank demand
and time deposits adj.
and currency
— 1M *
•
Ratio
Ratioi Commercial
Total
bank deposits
liquid
+,currency to assets to
total liquid
gross
assets
national
(9 i 1 )
product 6/
10
150.9
158.0
161*. 7
170.2
176.8
'
205.2
.
182.0
185.2
190.0
202.2
55.5
55.6
55.6
55.2
55.6
55.1
54.5
54.0
54.7
2U6.JL
53.9
53.6
53.4
53.3
53.2
53.1
53.1
53.1
205.7
204.8
205.4
205.4
203.7
205.1
52.9
52.6.
52.6
52.6
52.7
52.8
205.7
206.1
206.1
206.4
205.9
206.0
11
89.1
83.3
82.2
85.1
85.3
80.7
78.8
79.3
r 79.3
' ,.
'V
i"77.7
r 80.2
r 79.8
r 77.7
77.0
p Preliminary. 1/
__
of months except that time deposits are as of June 30 and December 31 when call data for these dates were available«
2/ ncludes savings deposits in the Postal Savings System. 3/ Prior to 1955' data are Board estimates based on monthly
figures of inflow of new savings and withdrawals of savings capital compil 3d by the Federal Heme Loan Bank Board.
4a Includes all types of savings bonds held by investors other than banks and U. S= Government agencies and trust funds.
5/ Includes all marketable securities maturing within one year (adjusted to include partially tax exempt securities
twelve months prior to first call date) and, prior to 1956> nonmarketable Treasury savings notes with maturities up to
figures include holdings of insurance companies brokers and dealers, State and local Governments noribank
24 Months|
9
s
http://fraser.stlouisfed.org/
#orPoratioijfr Louis
corporat^pension fb*p, noi*rof#instituti#;, foreign#bcounts, bM individual. 6/See re#-se of she##.
Federal Reserve Bank of St.
6/ Gross national product estimates ire available quarterly and annually only. For 1950 - 19$8 ratios are for last
quarter of year, for 1959 and I960, for each quarter of year• Data for total liquid assets used in computing
these ratios are quarterly average•for four dates: each month of the current quarter and the last month of the
preceding quarter.
LA.3
fable &
Ratios to Total Deposits 1/
Date
All coroMemberftanks
mercial
Central reserve city
Total
banks
New York
Chicago
city
191*6:
1917:
# 1918:
1919:
1950$
1951:
1952:
1953:
#1951:
1955:
1956:
1957:
1958:
Dec.
Dec.
Dec.
Dec.
Dec.
Dec*
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec*
31
31
31
31
31
31
31
31
31
31
31
31
31
#1959: Jan. 28
Feb. 25
Mar. 25
Apr. 29
May 27
Jane 2 *
l
#
July 29
Aug. 26
Sept.30
Oct. 28
Nov. 25
Dec. 31
I960: Jan..27
Feb. 21
% r . 30p
Apr. 27
Ifay 2 ,
#
June 29p
July 27p
^
U.S. Govt, securities maturing
within one year
L O A N S
23.3
27.7
31.2
31.1
35.8
37.2
39.3
W.5
1*0.3
1*5.8
23.7
28.2
31.3
30.9
36.1
37.6
39.9
1*1.1
1.
88
1*0.7
1*6.7
50.1
1*8.1*
191
*.*
1*9.7
186
*.
1*9.3
50.3
5d.5
51.1*
52.5
52.6
53.3
53.1*
53.6
51*. 1
*
51*.0
5*l
1.*
55.6
56.1*
5.
62
56.9
57.1
5.
62
51.0
1*9.5
50.3
51.3
51.5
52.1*
53.6
53.7
51*. 5
51*. 7
51*. 9
55.8
55.6
55.9
57.1
58.0
57.7
58.3
58.5
57.5
27.7
31.0
35.9
3l*.9
1*2.5
1*6.3
50.6
50.6
168
*.
56.7
61.7
61.9
57.7
27.3
30.3
30.it
25.6
32.3
36.2
38.9
39.1
38.3
1*6.3
52.7
55.2
191
*.*
2.
60
31.1
33.1*
32.1*
38.1
39.1*
ai
.
1*2.2
1*1.9
1*8.5
52.7
53.3
51.3
in-
Country
18.9
23.1*
27.1
28.5
31.5
32.1
33.9
36.1
37.1
1*0.7
commercial
banks
I
11*. 3
11*.0
l*2
l.
19.2
15.2
9.8
11.7
16.9
1.
00
126
*.
5.1
7.5
ll.*
**l
8.3
11. 5
**
1*5.2
68
.
ll.
**l
81
.*
58.7
59.0
1*8.3
1*8.7
51.9
50.5
65.5
65/3
5*l
1.*
51*. o
55.6
57.2
g:i
1*8.0
58.2
57.5
58.1*
58.2
6.5
5.9
5.7
5.9
1*8/2
6.7
58.2
62.7
6!*.5
58.7
60*1*
6l.lt
191
*.*
50.3
188
*.
66
.
50.6
1*.6
1*.9
57.7
58.2
6.
00
62.2
6.
26
66.6
69.5
67.3
67.1*
69.1*
69.1*
67.6
68.0
67.1*
66.9
51.8
5.
66
56.2
62.0
63.8
63.2
61.7
51.5
52.7
53.8
53.8
55.1
56.1
56.5
61.1
61.7
61.9
60.5
1*6.0
1*6.1*
1*7.0
1*7.9
1*7.7
1*7.9
1*7.9
1*8.1*
51.1*
a:
7.9
5.5
&7
6.7
60
.
61
.
5.5
l*.l*
li.l
n.a.
Total loans (adjusted to excludi r loans to banks) ^ U. S. bovernment seouritimm "tat^TPing
within one year estimated on basis of Treasury survey of ownership; and total deposits
(adjusted to exclude cash items in process of collection).
2/ Prior to 1951, data are on call basis and beginning in 19.51, they are on maturity basis.
On a call basis, data for 1951 and 1952 are 21.5 and 19.1 respectively.
r
Revised,
Not for publication
L.4.3
Table 9
Deposits and Currency
(In billions of dollars)
Year
or
month
End of Dec:
1953
195U
1955
1956
1957
1958
1959*
(9)
(10)
(H)
(12)
( ) , (k)
?
121
16)
Lzl
151
m
Seasonally
- 4 easonally adjusted
Time deposits
Total
money supply 1/
adjusted
Curdeposits
D. S.
money
Demand
CurGov't
rency
and
Demand
supply and deposits Total Commer- Mutual Postal deposits outside currency
Total
rency
deposits outside time dep. adjusted (7+8+9) cial
savings savings
banks (5+6+10
2/
:(2+3)
adjusted banks
at ccm'l
+11)
banks(l+7)
126.6
130.0
133.5
13U.5
133.6
138.8
Apr. 29 3/
May 27
June 2k
July 29
Aug. 26
Sept.30
Oct. 28
Nov. 25
Dec. 31 y
1960s
Jan. 27
Feb. 2k
Mar. 30
Apr. 27
May 25
June 29
July 27
V
— 16 —
it.t
iOl
IU0.6
lbo.9
litl.2
Ht0.9
1U0.8
1U0.U
litO.l
HtO.2
UtO.O
139.1
139.5
139.lt
137.6
138.2
138*5
99.3
103.1
106.1
107.1
105.8
27.3
26.9
27.1
27.lt
27.8
110.7
28.1
112.2
112.lt
112.6
112.9
112.6
112.lt
112.0
28.2
28.2
28.3
28.3
28.3
28.li
28.lt
28.3
28.2
111.8
112v0
111.7
110.8
111.1
111.2
109 oU
110.1
110.3
28.3
28.3
28.it
28.2
28.2
28.1
28.2
170.3
176.8
181.9
165.1
189.7
202.0
20U.9
205.6
206.3
206.5
206.lt
206.5
205.9
20li.8
206.1
205.2
20U.5
205.5
205.6
20U.1
205.7
206.5
102.5
106.6
109.9
lll.lt
110.3
115.5
112.5
110.7
110.7
112.7
111.1
70.lt
75.3
78.lt
13.7
lt6.8
lt8.lt
2lt.lt
26.3
89.1
98.3
56.1
63.2
31.7
3U.0
64.5
65.0
65.lt
65.3
65.5
65.7
65.5
64.7
65.9
3b.3
3lt.lt
3U.6
3U.5
3U.7
3lt,6
3U.6
3U.6
3U.9
11
.
1.1
10
.
10
.
10
.
10
.
10
.
65.2
65.lt
3U.9
3U.9
35.3
35.2
35.2
35.3
35.lt
0.9
0.9
0.9
0.9
0.9
82.2
99.9
100.5
101.1
106
0.
101.2
lll.lt
112.7
113.1
ll5.lt
101.8
nlt.o
110.5
101.2
108.8
111.5
107.8
108.0
110.1
101.5
101.1
100.3
101.0
102.2
102.3
102.6
103.6
lOlt.2
5.
06
66.0
66.2
66.5
67.5
68.0
28.1
30.0
2.it
21
.
1.9
16
.
1.3
11
.
1.1
0.9
0.8
0.8
It. 8
5.1
i.t
ti
lt.5
U.7
U.9
5.1
5.7
28.1
214.8
221.0
27.9
2lt5.lt
2U5.0
2lt5.lt
217.6
2lt7.lt
2lt8.5
28.1
5.1
5.8
28.3
28.lt
28.5
28.5
28.3
29.1
29.U
l.t
tl
27.9
5.2
5.6
6.5
7.1
60
.
205.7
27.9
28.3
28.3
28.3
28.7
226.it
232.3
2it7.5
248.2
2U7.6
252.lt
5.3
28.0
21+7.3
2UU.9
5.3
7.7
7.8
7.0
28, 1
28, 3
28,3
217.7
2lt9.6
5.2
28,1
27, 9
2UU.2
2it7.0
246.2
1
1
~
p Preliminary 1/ Seasonally adjusted series begins in 1946 and is available only for last Wednesday of the month.
2/ At commercial, savings, and Federal Reserve Banks. J/ As a result of inclusion of a national bank in Hawaii; demand
deposits adjusted increased about $100 million and time deposits at commercial banks about $100 million, 4/ As a result
of inclusion of all banks in Hawaii, demand deposits adjusted increased about $200 million and time deposits at commercial banks about $200 million. On balance in 19593 as a result of structure changes", denial d deposits adjusted
increased $lt00 million, time deposits at commercial banks increased $700 million, and time deposits at mutual savings
banks declined $300 million. 5/ Demand deposits were reduced about $400 million as a result
a technical change
under HfcgulationB amending thedefinition. of such deposits.
http://fraser.stlouisfed.org/
^
%
%
%
%
%
%
% Not for {plication *
Federal Reserve Bank of St. Louis
fable 10
Loans and Investments at All Commercial Banks
(In billions of dollars}
L.U.3
Date
1953:
195U*.
19#:
1956:
1957*
1958:
Dec. 31
Dec. 31
Dec. 31
Dec. 31
Dec. 31
Dec. 31
1959: VJan. 28
Feb. 25
Mar. 25
2/Apr. 29
" May 27
(old) June ?h
, (new) June 2k
July 29
^/Aug. 26
Sept.30
Oct. 28
Nov. 25
Dec* 31
Loans
and
investment
145.5
155.7
160.3
16U.5
169.3
I8k.li
183.8
181.9
181.1
183.8
183.9
181.2
181*. 2
185.7
186.1
186.3
186.7
186.1
189.5
U.S.
Gov't
securities
73%
69.0
6.
16
58.6
58.2
Other
secur- Total
ities loans
1JuT
%73T
16.3
16.7
16.3
17.9
70 Ji
66.li
20.6
67.5
65.5
20.L
20.U
20,6
20.9
63.2
63.6
62.6 20.8
60.9
20.6
60.9
20.6
6 . 20.6
11
60.3
59.2
59.6
58.5
58.9
20.5
20.7
20.6
20.3
20.5
82,0
89.7
93.2
97.5
95.9
96.0
97.lt
99.3
100.5
102.8
102.8
103.9
105.3
106.3
106.5
107.3
110.0
- IT -
YNoribank
Con- financial All
Farm
sumer
institu- other
tions
"ICT 3 3 " X o "
10.9
3IT
Business Real Secuestate rity
27.2
26.9
33.2
38.7
£0.5
liO.li
.39.2
39.2
lt0.2
I1O.6
lil.li
U2.5
37.8
37.8
38.2
38.7
38.8
39.li
I1O.2
18. U
20.8
li.5
5.0
11.3
22.5
23.1
25.3
lt.7
25*6
U.2
25.7
25.9
26.3
2.
66
26.9
26.9
27.1
27:3
27.5
27.7
27.9
28.1
11.2
U.o
з.9
U.3
li.l
li.l
li.l
I1.2
11:2
и.i
li.i
lul
U.9
5.2
U.5
U2
.
li.l
5.0
5.0
5.0
I1.8
U.9
U.9
5.0
5.0
5.1
5.1
5.1
5.0
U.9
5.0
10.9
13.2
1U.6
15.8
15.9
5.6
6.5
6.9
7.2
16.0
80
.
81
.
8.2
16:1
16.3
16.7
17.0
17.U
17.U
17.6
17.9
I8;i
18.3
18.3
18.5
8.2
8.U
86
.
5.9
62
.
66
.
6.5
60
.
62
.
7.1
8.9
7.7
7.8
8;o
8.3
8.5
8.5
8.5
Jan. 27
185.6
58.0
28.1 li.O U.9
39.li
1.
86
6.3
8.U
Feb. 2h
18U.3
56.2
28.2
39.8
1.
86
5.0
3.9
6.U
8.5
Mar. 3Qp
183.1
5U.2
I1O.9
28.2
1.
86
5.1
3.5
8.U
Apr. 27p
186.3
55.8
U0.9
28.3
68
.
5.2
19.0
3.9
8.7
May 25p
186.0
55.1
U1.3
28.3
19.2
8.8
3.7
5.3
6.7
June 29p
186.7
5U.1
lil.9
f28.U
3.8
5.3
9.0
I9.5
7A
July 27p
188,6
28^ . M
JhU.
8*2.
J M
JUS
r Revised. 1/ Total credit 1 .ncreased almost 5500 million in January as a result of baric structure changes
resuiir 01 oarac sxrucxure -cnanges
Total credit increased about $200 million as a result of bank structure changes. 3/ Total credit increased
about $300 million as a result of bank structure changes. Structure changes in 1959, on balance through
August, added almost #1 billion to total credit; $600 million in loans; $300 million in U. S. Government
securities$ and $100 million in othe% securities. Real estate loans increased about $300 million; business
loans $100 million; consumer loans, *100 million; and other loans $100 million. Notes Data exclude interbank
loans. Total loans are after and types of loans before deductions for valuation reserves. Consumer and
-"other loans" are partly estimated for all dates. Other data are partly estimated on » n but June and December
eall dates. Beginning June 2U, 1959, "business loans" and "all other loans* have been revised to exclude
loans to nonbank financial institutions.
1960S
66
.
Not for lAlieatlnn
@FedFRASER