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L.4.3 Not for Publication JDeejember 1976 X BANKING AND MONETARY DEVELOPMENTS Nawember 1976 % Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System Table 1 Changes in Commercial Bank.Credit, Money Stock and Time Deposits Seasonally adjusted annual rates (per cent) 1975 3rd 4th Qtr. 1st 1st Qtr. 1976 2nd 3rd Qtr. Otr. f>ept.p Year Year 9.1 4.4 4.4 4.7 4.9 5.6 4.2 -7.5 57.5 29.1 14.1 36.8 44.3 26.3 8.0 3.6 5.0 .8 -1.0 -4.1 2.2 11.5 -.7 .6 4.4 1.5 2.3 Business loans 17.5 -4.2 -3.2 .7 -5.3 Real estate loans 10.4 3.2 1.5 7.0 4.3 -.7 4.3 5.6 Total bank credit—^ U.S. Govt, securities Other Securities Loans^ Consumer loans Oct.p Nov. p 6.1 12.4 9.5 •«-12.6 —6.4 10.3 8.3 8.2 3.3 22.0 1.8 8.5 9.0 18.5 5.8 -7.7 -2.8 4.2 7.0 19.5 13.0 8.0 8.9 6.9 6.0 8.5 6.7 7.5 4.9 4.0 5.7 11.3 11.5 81.9 n.a. 7.4 adjusted for loans sold to selectedI affiliates Total bank credit—^ 9.2 4.4 4.2 4.6 4.9 5.5 4.3 7.0 5.9 12.2 9.4 Loans—^ 11.6 -.7 .4 4.3 1.6 2.1 1.0 8.0 8.7 18.2 5.7 Business Loans 17.4 -4.2 -3.3 -4.9 -7:4 -2.2 3.5 6.9 18.6 12.9 Money stock - M^ 4.7 4.1 3.6 1.6 5.6 4.3 6.8 4.1 -.4 13.7 Total time deposits 15.0 7.9 2.6 12.9 6.0 4.6 7.3 5.7 9.7 14.0 15.6 Time other than CD's 9.4 12.2 8.9 11.6 13.9 16.1 11.3 15.0 16.9 17.3 17.6 26.3 -6.9 -5.0 3.8 -12.3 -9.7 —2.6 -8.2 -.4 .1 CD's (dollaf change in billions) Tj — Adjusted to exclude domestic interbank loans, n.a. - Not available. -2.0 — Table 2 Loans and Investments at All Commercial Banks (Seasonally Adjusted) 1/ Total- Date 1/ Loans— U.S. Gov't. Securities Other Securities (In billions of dollars) 1972—December 1973—December 1974—December 31 31 31 1975—October November December 29 26 31 . . 558.0 633.4 690.4 378.9 449.0 500.2 62.6 54.5 50.4 116.5 129.9 139.8 716.3 722.2 721.1 495.0 498.5 496.9 76.0 76.8 79.4 145.3 146.9 144.8 145.0 81.0 497.3 723.3 1976—January 28 p 144.5 84.4 497.8 726.7 February 25 p 143.3 88.2 499.7 731.2 March 31 P 144.0 90.0 500.5 734.5 28 p April 144.0 93.0 500.6 737.6 26 p May 144.1 94.0 500.7 738.8 30 p June 145.7 92.7 504.7 743.1 28 p July 146.1 95.0 507.6 25 p August 748.7 147.1 £4.0 September 29 p 752.5 October i m Itt m i i NnvPiniTiP.r p - Preliminary 1/ Adjusted 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." 3/ Beginning October 31, 1974, as the result of the liquidation of one large bank total loans were reduced by $1.0 billion; business loans by $0.6 billion; real estate loans by $0.2 billion; nonbank financial loans by $0.2 billion; and "other securities" by $0.5 billion. However, business loans were increased and real estate loans were reduced by $0.1 billion as the result of loan classifications at one large mideastem bank. Table 3 LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES Loans sold outright by commercial banks (outstanding in billions of dollars, N.S.A.) Sold to , / Sold to Affiliates — lonbank public —' Business Business Business Total Loans Loans Total Total Loans Date 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. 1975—Dec. 1976 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 28 25 31 28 26 30 28 25 29 27 24 , p p . ^ p p p p p p p p Commercial bank credit (seasonally adiusted) Total loans and investments Original Adjusted 3/ Total. Loans Original Adjusted 3/ Business Loans Original Adjusted 4/ 4.5 4.4 6.1 n.a. n.a. 2.0 2.0 2.9 n.a. n. a. 2.8 2.6 4.3 4.8 4.4 1.6 1.7 2.6 2.7 2.5 1.7 1.8 1.8 n.a. n.a. 0.4 0.3 0.3 n.a. n.a. 485.7 558.0 633.4 690.4 721.1 488.5 560.6 637.7 695.2 725.5 320.9 378.9 449.0 500.2 496.9 323.7 381.5 453.3 505.2 501.3 116.1 130.2 156.4 183.3 176.0 117.7 131.9 159.0 186.0 178.5 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 4.3 4.5 4.2 4.2 4.4 4.5 4.5 4.0 3.9 3.8 3.8 2.5 2.7 2.6 2.6 2.7 2.8 2.8 2.5 2.5 2.4 2.4 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 723.3 726.7 731.2 734.5 737.6 738.8 743.1 748.7 752.5 760.3 766.3 727.6 731.2 735.4 738.7 742.0 743.3 747.6 752.7 756.4 764.1 770.1 497.3 497.8 499.7 500.5 500.6 500.7 504.7 507.6 501.6 502.3 503.9 504:7 505.0 505.2 509.2 511.6 176.6 175.1 171.4 170.5 ' 170.7 170.2 171.0 171.0 179.1 177.8 174.0 173.1 173.4 173.0 173.8 173.5 511.4 519.3 521.8 515.3 523.1 525.6 172.0 174.8 176.7 174.5 177.2 179.1 1/ To Sank 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. 2/ To other than banks' and bank-related affiliates or subsidiaries. 2J Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. 4/ Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. 5/ 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. 6/ 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 $0.6 billion. However, as the result of loan reclassifications at another large bank, business loans were increasedJ^$t)u]Tbillion. 7/ Beginning March 31, as the result of loan reclassifications in Chicago City and in the San Francisco District, business loans were reduced by $1.2 biJLlidtf. p p r e l i m i n a r y n . a . not available Table 4 Loans at all Commercial Banks Seasonally Adjusted Real Estate Business Security Consumer Nonbank Financial Agriculture (In billions of dollars) 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. 1975—Dec. 1976—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. lii/ 31 28 p 31 28 P 26 P 30 P 28 P 25 P 29 27 24 60.9 71.8 83.4 87.0 89.9 10.8 130.2 156.4 183.3 176.0 81.4 98.1 117.7 130.2 134.4 176.6 175.1 171.4 170.5 170.7 170.2 171.0 171.0 172.0 174.8 176.7 135.2 136.4 138.2 139.0 140.0 140.6 141.5 141.7 142.7 143.5 144.4 90.3 90.4 90.8 91.6 91.8 10.6 11.1 116.1 31 31 y 22.1 12.2 28.9 33.3 11.4 12.3 28.0 93.1 93.8 94.7 95.4 n.a. 20.6 20.8 21.2 29.0 29.3 28.9 28.7 13.3 13.3 13.8 14.2 14.3 15.9 15.2 16.7 15.8 92.1 12.7 14.5 17.5 18.4 20.4 15.9 14.7 21.4 21.8 22.0 28.1 27.2 26.9 22.2 22.5 22.9 23.2 23.4 26.1 25.8 26.5 26.6 n.a. - Not available. P " Preliminary. 1/ 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. ^ t http://fraser.stlouisfed.org/ • Federal Reserve Bank of St. Louis • # # e # e • • Table 5 Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted (In billions of dollars) Item 1976 1Q7S I Oct. p Nov. +3.8 +7.8 +6,0 +2.3 -1.0 -.5 +.8 +1.6 + .4 +1.0 + .4 +2.7 +.1 +4.0 +2.9 +3.8 +7.9 +2.5 + .2 -.5 + .8 i/ +1.0 +2.8 +1.9 + .8 +1.0 + .6 + .9 + .2 +1.0 + .8 + .9 + .8 + .2 + .3 +1.0 + .7 +.9 + .7 n.a. 1/ + .5 + .4 + .1 +1.6 -.7 +1.5 -.9 -.6 -.2 -. 6 -.9 -.3 -. 8 -.3 + .7 + .1 + .2 + .3 +.4 + .3 + .2 +1.3 +.9 +1.5 +1.1 n.a. Feb. p March p July p August p SeDt.D April p May p June p +4.5 +3.3 +3.1 +1.2 +4.3 +5.6 +3.4 +3.8 +1.8 +3.0 +1.0 -1.3 + .2 -.5 -1.2 + .7 1/ +.1 -1.6 + .4 + .5 +1.9 + .8 +. 1 + .8 -1.1 + .6 -1.5 -2.5 -.9 + .8 +. 6 + .9 + .8 +1.2 +1.0 Consumer + .8 + .5 + .9 + .4 + .1 + .4 Security +1.0 +1.4 - .4 -1.7 + .5 +2.2 -2.0 +1.0 + .3 Oct. Nov. Dec. Jan. p +3.6 +5.9 -1.1 +2.2 +3.4 U. S. Gov't, securities -.7 + .8 +2.6 +1.6 Other securities + .8 +1.6 -2.1 +3.5 +3.5 Business + .9 Real estate Loans and Investments 2/ Loans 2/ Nonbank financial -.7 1/ Agriculture + .2 +.2 + .3 + .2 + .2 + .4 + .2 + .4 + .2 All other + .6 + .1 -.1 -.9 -.5 +1.0 + .1 -1.6 i/ 1/ Less than $50 million. 2/ Adjusted to exclude interbank loans. p - Preliminary. Table 5A Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted Adjusted for Loans Sold to Affiliateg (fn billions of dollars) . « . ' • WS 1976 Item Oct. Nov. Dec. Jan. p Feb. p Mar. p Apr. p May p June p July p Aug. p Sept.p Oct. p Nov. p +3.8 +5.9 -1.4 +2.1 +3.6 +4.2 +3.3 +3.3 +1.3 +4.3 +5.1 +3.7 +7.7 +6.0 U. S. Gov't, securities -.7 + .8 +2.6 1.6 3.4 +3.8 +1.8 3.0 +1.0 -1.3 +2.3 -1.0 -.5 +.8 Other securities + .8 +1.6 -2.1 + .2 -1.2 +.7 +. 1 +1.6 + .4 +1.0 +.4 +2.7 +3.7 +3.5 -1.9 + .3 + .7 +1.6 +.8 +. 3 + .2 +4.0 +2.4 +3.7 +7.8 +2.5 -1.4 +.6 -1.3 -2.6 -.9 +.3 -.4 + .8 -.5 +1.0 +2.7 +1.9 Loans and Investments 2/ Loans 2/ Business +1.0 + .7 1/ Less than $50 million. 2] Adjusted to exclude interbank loans. P - Preliminary. -.5 i/ 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 1icns of dollars) End of October to end of November Item . 1971 1972 1973 1975 r 1974 1976 o 1970 2/ All commercial banks — Total loans U. S. Gov't, securities Other securities Total +2.4 +3.4 +1.5 +7.3 +3.8 +3.5 +.5 +7.8 +2.0 +1.4 +.5 +3.9 +2.7 +1.8 -.5 +4.0 +6.8 +2.3 +.7 +9.8 +2.1 +1.1 +.1 +3.3 +. 4 +1.1 +1.6 +3.1 All Large Banks 2/ 3/ Total loans U. S. Gov't, securities Other securities Total +1.2 +2.8 +.9 +4.9 +2.6 +2.5 +.3 +5.4 +1.6 +1.4 +.2 +3.2 +. 6 +1.1 -.5 +1.2 +4.3 +2.0 +.5 +6.7 +. 1 +1.1 -.2 +1.0 -1.1 +.6 +1.4 + .8 2/ 3/ Other banks - Total loans U. S. Gov't, securities Other securities Total +1.2 +. 6 +. 6 +2.4 +1.2 +1.0 +.2 +2.4 +.4 +2.1 +.7 +2.5 +.3 +.2 +3.0 +2.0 1/ +.3 +2.3 +1.5 +.5 +.3 +2,2 1971 1970 +.4 +.7 +2.8 Late D ecember to end of November Item 1973 1972 +44.7 —6.1 +8.0 +46.5 +58.4 -9.3 +9.5 +58.6 +43.2 -1.7 +10.2 +51.6 +18.9 •-•7. +14.8 +33.0 —23.0 +13.5 —1.8 -11.3 +26.2 -3.8 +.2 +22.5 +32.3 -6.0 +2.5 +28.8 +22.0 -1.8 +3.0 +23.2 +4.3 -1.4 +6.1 +9.0 -2.9 +2.3 +6.3 +5.7 +9.8 +11.4 +6.7 +27.9 +18.5 -2.3 +7.8 +24.0 +26.1 -3.3 +7.0 +29.8 +21.2 V +7.2 +28.4 +14.6 +.7 +8.7 +23.9 +5.2 +1.3 +4.9 +11.4 1976 p 1975 r 1974 All commercial banks 2J Total loans U. S. Gov't, securities Other securities Total +12.6 +12.7 +3.0 +28.3 -13.2 +24.9 +4.9 +16.6 All Large Banks -2/ Total loans U. S. Gov't, securities Other securities Total -3.2 +6.4 +.6 +3.8 Other banks 2J .3/ Total loans U. S. Gov't, securities Other securities Total +15.8 +6.3 +2.4 +24.5 1/ 2/ +2.3 +3.6 +11.2 +17.1 Less than $50 million. Based on revised reporting beginning July 1969. Changes have been adjusted to maintain comparability of series. 3/ Based on revised coverage beginning July 1966 and January 1967-76. 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, affilitates, subsidiaries, or foreign branches. Allowance has been made in monthly changes for all loan and security reclassifications. For description of reclassifications, see Table 3 and 8. Table 7 Changes in Commercial and Industrial Loans at Large Commercial Banks (In millions of dollars) Late December to late November^.' End of October to End of Novemberi/ Business of borrower Food processors Commodity dealers Trade concerns Retail trade Wholesale trade Metals Primary metals Machinery Transportation equipment Other fabricated metals Textiles, apparel, etc. Petroleum Chemicals Other durable manufacturing Other nondurable manufacturing Mining Public Utilities, total Transportation Communicat ion Other puolic utilities Construction All other types of business Bankers acceptances Services Other Foreign business concerns Classified Unclassified Total Change 1972 1973 1974 1975 1976P 1972 1973 1974 1975 170 140 98 168 -70 282 -28 309 24 -23 -119 18 -43 -52 -4 -68 151 6 —9 154 -1 97 18 94 -15 117 786 187 973 152 467 223 • 172 51 -19 -31 16 -33 29 -134 -89 -122 —164 . -63 -140 8 -138 -188 334 -36 —26 -130 186 -82 3 60 350 410 135 372 311 156 155 65 64 145 -40 -104 -142 32 -100 -26 —46 166 322 -20 22 320 51 162 189 1 -28 -116 1186 284 1470 170 170 -54 13 -67 -191 75 -221 122 -167 —80 -51 -169 -155 -74 -39 -45 -46 -34 35 -146 1641 1395 56 190 87 1064 —188 876 46 111 271 176 95 60 84 28 —108 56 -134 -55 -91 -43 95 55 -83 -4 -7 -72 -59 1314 1141 -13 186 -153 1334 -5 1329 275 —96 1424 1295 129 -617 -8 -96 -534 21 535 -272 -453 348 -90 -167 736 -252 413 575 745 -162 -966 975 -171 474 2680 1954 4634 540 -49 2519 1788 731 2435 -47 1651 205 626 703 128 483 844 408 113 1922 226 -60 1756 904 3066 -315 1600 1781 187 14203 1960 16163 474 277 2474 1413 1061 3825 149 2016 1072 588 623 676 828 1313 308 861 1998 48 -45 1995 916 2190 373 622 1195 176 16939 1812 18751 -1345 -524 -1445 -249 -1196 -4092 59 -2844 -532 -775 -622 259 -718 -1253 -629 243 -2544 -416 —446 -1682 -591 491 2367 -1381 -495 893 -11877 -720 -12597 . 1976p —408 354 1625 924 701 -2402 20 -1162 -953 -307 565 144 -170 -223 80 1249 -3042 -976 -597 -1469 -1035 -2663 465 -489 -2639 180 -5746 —85 -5831 1/ Four most comparable weeks used through out. 2/ Changes are compiled from December 29, 1971; January 3, 1973; January 2, 1974; December 31, 1974; and December 31, 1975. These data cannot be linked with all commercial bank data which are always for December 31. http://fraser.stlouisfed.org/ # # Federal Reserve Bank of St. Louis e • # e • • • • Table 8 Loans and Investments of All Commercial Banks (In billions of dollars) (Not seasonally adjusted) Loans and investments Date 1966—Dec. 1967—Dec. 1968—Dec. 1969—Dec. 1970—Dec. 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. 1975—Dec. 31 30 31., 31-' 31 31c, 31— 31 6/7/ 31—'Z' 31 324,,ol/ 360..8 400..4 412..1 446,.8 497..9 571,.4 647,,3 705..6 737..0 1976—Jan. 28p 731..4 Feb. 25p 720..8 Mar. 31p(old) 729.,6 Mar. 31p(new)^729..6 Apr. 28p 732,.1 May 26p 735.,1 June 30p 743..3 July 28p 740.,3 Aug. 25p 746.,1 752.,9 Sept.- 29p Oct. 27p 758.,7 766,.0 Nov. 24p U.S. Gov1t. Other securities Total loans Business Real estate Security Farm Consumer Nonbank financial institutions All other 56..2 62.,5 64..5 54.,7 61,.7 64..9 67.,0 58.,3 54.,5 84.,1 48,. S— 61,.5 71,.5 71..3 86,.1 104..7 117,.1 130,.6 140,,5 145,.5 219., o ^ / 236.,8 264..4 286.,1 299,.0 328..3 387..3 458,.5 510..7 507..4 80.6 88.4 98.4 108.4 112.5 118.5 132.7 159.4 186.8 179.4 53,.9 58,.5 65,.1A, 70, 72,.5 81,.6 98,.4 118,.0 130,.6 134,.8 9,.0 10 .5 11,.8 10,.7 12,.1 12,.9 17,.6 14,.6 13,.6 14.,8 8.6-/ 9.3 9.7 10.3 11.2 12.5 14.3 17.3 18.2 20.2 38..3 40,.6 46,.3 51,.0 53.,6 61,.2 72..1 83,.7 87..3 90..3 13,.3 12,.5 13,'hi 15,.1^ 15,.9 16,.9 23,.4 30,.5 35,.2 29,.6 15.3 16.9 19.3 20.6 21.2 24.7 28.8 35.0 38.8 38.4 84..8 85.,4 89.,3 89.,3 90.2 90.,5 90.,8 89.,5 91.8 92.6 93.5 96 .9 144..0 143..6 143.,5 143..5 145..2 144.,6 145.,3 145.,6 145.,8 147.,0 147.,0 148,,6 492.,6 491..9 496.9 496.,9 496.,7 500.,0 507.,2 505.2 508.,5 513.3 518.2 520,.6 174.4 173.5 172.5 171.3 170.6 170.8 172.4 170.7 170.3 172.5 174.2 176.0 135..1 135..7 136..6 137..4 138.,3 139..4 140.,5 141.,5 142.,1 143.,4 • 144..4 145,.1 10,.4 10,.9 13,.2 13,.2 12..5 13..5 14..5 13.,9 15.,5 14.,9 16.,4 15 .8 20.2 20.4 20.9 20.9 20.3 21.9 22.4 22.6 22.9 23.1 23.2 23.2 89.,8 89.,4 89..6 89..6 90.J 91..4 92.,5 93.,7 94.,7 95.,6 96,.1 n.a. 28,.2 28..3 28.,8 29.,0 28..3 27..9 28.,2 27.,1 26.,4 26..0 26.,0 26,.0 34.5 33.7 35.3 35.5 35.0 35.1 36.7 35.7 36.6 37.8 37.9 n.a. n.a. - Not available p - Preliminary NOTE: Data exclude domestic interbank loans. Consumer and "other loans" were partly estimated for all dates. Other data are partly estimated on all but June and December call dates. 1/ Beginning June 9, 1966, $1.1 billion of balances accumulated for the payment of personal loans were deducted from time deposits and "all other" loans. 2/ Beginning June 30, 1966, about $1 billion of participation certificates previously included in agricultural and "all other" loans were reclassified as "other securities". 3/ Data revised beginning June 1969, to include all bank premises subsidiaries and other significant majority-owned domestic subsidiaries. kj 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. 5/ Beginning June 1972, business loans were reduced by $400 million, nonbank financial institutions increased by $300 million, and "other" loans increased by $100 million as the result of loan reclassifications at one large bank. 6/ 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 in "other securities." 7/ 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;nnonbank financial loans 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 mideastern bank. 8/ Beginning March 31, 1976, as the result of loan reclassifications business loans were reduced by $1200 million, real estate loans increased by $800 million; and nonbank financial by $200 million, and all other by $200 million. ^1 TABLE 9 * ^ Ratios of Total Deposits L O A N S M e m b e r B a n k s Reserve City Banks City All of New York commercial City Chicago Total banks D A T E 1963- Dec. 1964- Dec. 1965- Dec. 1966- •Dec. 1967- Dec. 1968- •Dec. 1969- Dec. 1970- Dec. 1971- Dec. 1972- Dec. 1973- Dec. 1974- Dec. 1975- •Dec. 25 31 31 31 30 31* 31* 31* 31* —Jan. 28*p Feb, 25*p Mar. 31*p Apr. 28*p May 26*p June 30*p July 28*p Aug. 25*p Sept.. 29*p Oct. 27*p Nov. 24*p Other 67.4 58.6 62.1 63.3 59.9 69.3 60.5 64.4 65.0 61.9 68.7 75.9 65.4 70.2 63.7 83.5 65.8 70.2 67.9 77.0 68.1 65.8 70.8 79.9 63.8 83.5 (76.3) 75.1 69.1 64.7 (63.; .7 66.8 102.8 (86.4) 89.5 72.0 (69.8 75.7 79.5 87.5 (79.6 1 80.6 73.3 67.3 (66..2 69.9 71.6 84.1 (83.2) 78.1 65.7 (65..6< 68.0 85.4 (84.0) 87.2 77.3 67.9 (67.; .7 70.6 87.7 (86.4) 93.7 72.0 (71.i .8 75.3 81.7 81.9 87.4 (85.8) 91.5 72.9 (72.' .5 76.0 ; 71.5 84.6 (81.6) 91.5 68.7 (68.,3 75.4 MEMBER BANK DATA NOW AVAILABLE ONLY ON CALL DATES 69. 6 69. 7 68. 6 69. 4 69. 7 68. 8 69. 7 70. 2 70.1 70. 2 69. 8 Country 53.8 56.0 57.9 59.2 58.2 58.2 62.8 60.2 59.2 60.1 53.9 64.6 61.5 (69.3) (69.4 1 (68.2 (69.2 (69.4: (68.5: (69.3: (69.8% (69.6: (69.7: (69.3: * - Ratios in parentheses are those obtained by adding Euro-dollars to the deposit base 1/ Total loans (adjusted to exclude loans to banks) and total deposits (ad usted to exclude cash items in process of collection). 2/ 3/ Beginning June 1969, total loans are reported gross of valuation reserves rather than net as previously reported. The higher loan level increased the ratio by about 1.3 percentage points for all commercial banks. Loan data revised to exclude only loans to domestic commercial banks. Previous data had also excluded loans to foreign commercial banks. Table 10 Money Stock Measures and Deposit Turnovers (Seasonally adjusted; dollar amounts in billions) m Mi 2 Mi plus time dep. Currency at comm. plus demand other than 2/ deposits!/ large CD's M3 M2 plus deposits at nonbank thrift institutions and credit union . Demand shares- Currency Deposits Components of money stock measures and related items CD's Time other than CD's Total Time Nonbank thriftyJ institutions— U.S. Gov't. \ deposits (all member) Turnover outside N.Y. City (per cent) 1973-December 270.5 571.4 919.5 61 .5 209.0 63.5 300.9 364.4 348.2 5,,0 75.8 1974-December 283.1 612.4 981.6 67,.8 215.3 89.8 329.3 419.1 369.3 3,,0 86.6 1975-December 294.8 664.3 1092.9 73,.7 221.0 82.9 369.6 452.4 428.8 3,,0 84.7 1976-Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 295.1 296.6 298.1 301.8 303.5 303.2 304.9 306.4 306.3 309.8 309.8 670.0 677.9 682.6 690.8 695.7 698.5 705.4 710.8 7164 725.8 731.9 1103.5 1116.7 1126.5 1140.0 1150.0 1157.4 1169.9 1182.3 1195.3 1211.7 1223.5 74,.2 75,.0 75,.7 76,.7 77.,3 77..6 78.,1 78.,6 79..1 79.,8 80.,3 220.9 221.6 222.4 225.2 226.2 225.6 226.8 227.8 227.2 230.0 229.5 79.2 75.4 73.2 71.4 68.2 70.6 69.6 64.4 62.4 62.0 62.1 374.9 381.3 384.4 388.9 392.2 395.3 400.4 404.4 410.1 416,0 422.1 454.1 456.7 457.6 460.4 460.4 465.9 470.0 468.7 472.5 478.0 484,2 433.7 438.9 444.3 449.5 454.4 459.2 464.6 471.9 479.3 486.2 491.7 2,,6 2,,6 2.,5 2,.5 2.,3 3.,7 2.,7 3.,9 3.,8 3,.4 4,,5 82.9 89.6 92.5 88.4 88.2 90.9 89.9 94.8 94.0 89.8 310.2 310.5 310.7 307.6 728.9 731.1 732.4 731.0 n.a. n.a. n.a. n.a. 80.0 80.3 80.2 80.3 230.2 230.2 230.6 227.3 61.3 61.5 62.0 62.4 418,8 420.6 421.6 423.4 480.1 482.1 483.7 485.8 n.a. n.a. n.a. n.a. 4.0 4.4 5.3 5.0 n.a. n.a. n.a. n.a. n.a. Week ending: Nov. 3 10 17 24 1/ 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 F.R. float; (2) foreign demand balances at F.R. banks, and (3) currency outside the Treasury, F.R. 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 deposits other than negotiable time certificates of deposit issued in denomination of $100,000 or more by large weekly reporting commercial banks. 2/ 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. 4/ Average of beginning and end of month deposits at mutual savings banks, savings and loan shares, and credit union shares. Table 11-A Liquid Asset Holdings of Private Domestic Nonfinancial Investors (Seasonally adjusted monthly averages; amounts in billions of dollars, ratios in per cent) Other Liquid Assets Currency and Deposits Time Deposits Period Total liquid assets 1 Total 2 Dem Currency 3 Demand deposits 4 Commercial banks 5 Thrift institutions 6 Total 7 Negotiable Commercial CD's paper 8 9 U.S. shortterm marketable Treasury securities 10 Savings bonds 11 1970—Dec. 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. 770.9 857.4 972.0 1083.6 1175.2 632.5 719.9 816.1 887.4 944.6 49.1 52.6 56.9 61.5 67.8 151.8 161.5 176.5 183.3 186.6 198.9 233.6 264.4 294.4 321.1 232.7 273.4 319.6 348.0 369.2 138.4 136.4 154.6 196.2 230.6 23.0 30.2 39.8 58.1 79.8 21.4 20.2 22.7 34.6 40.4 42.0 31.7 34.5 43.2 47.1 52.0 54.3 57.6 60.4 63.3 1975—July Aug. Sept. Oct. 1345.4 1254.0 1262.6 1274.9 1291.5 1301.8 1012.2 1021.4 1028.8 1036.8 1047.5 1053.3 71.3 71.9 72.0 72.6 73.4 73.7 190.8 191.7 192.0 191.2 192.5 190.6 345.9 347.8 349.6 353.0 357.1 360.3 404.1 410.0 415.2 . 420.0 424.4 428.6 233.2 232.6 233.8 238.1 244.0 248.5 71.9 69.0 69.1 70.6 71.6 72.9 41.2 40.6 40.2 40.4 41.5 42.7 54.6 57.1 58.2 60.5 64.0 65.7 65.6 65.9 66.2 66.6 66.9 67.3 1311.3 1322.3 1331.3 1345.3 1355.0 1366.5 1380.9 1388.7 1398.3 1414.2 1427.1 1064.5 1078.1 1087.6 1101.6 1112.2 1118.9 1131.2 1144.0 1156.4 1171.8 1183.3 74.2 75.0 75.7 76.7 77.3 77.6 78.1 78.6 79.1 79.8 80.3 191.0 191.8 192.0 194.5 196.0 195.0 195.9 196.7 195.7 198.2 197.5 365.8 372.5 375.9 381.1 384.6 387.4 392.7 397.1 402.7 408.0 414.0 433.5 438.8 444.0 449.3 454.3 458.9 464.5 471.6 478.9 485.8 491.5 246.8 244.2 243.7 243.7 242.8 247.7 249.7 244.7 241.9 241.5 243.8 69.5 66.1 64.1 62.3 58.9 61.1 60.0 54.9 53.4 53.7 54.0 43.1 43.3 43.6 44.4 45.8 47.2 48.0 48.2 48.3 48.7 49.5 66.5 66.8 67.8 68.5 69.1 70.0 72.0 71.4 69.6 69.0 68.8 67.6 68.0 68.3 68.6 69.0 69.4 69.7 70.3 70.8 71.1 71.5 Nov. Dec. 1976—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. NOTE: For description of items* and computation of ratios, see Table 11-C. • • • • • # • # # # I • TABLE 11-B Period Currency and demand deposits to liquid assets 12 Bank liability to liquid assets 13 Time Deposits at thrift institutions to liquid assets 14 Liquid assets to GNP 15 Currency and demand deposits to GNP 16 1970—Dec. 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. 1975—Dec. 26.1 25.0 24.0 22.6 21.6 20.3 48.5 49.6 49.5 49.5 50.0 47.9 30.2 31.9 32.9 32.1 31.4 32.9 75.8 77.0 78.3 79.1 80.6 81.7 20.0 19.7 19.2 18.4 17.7 17.2 1975—Q1 Q2 Q3 Q4 21.3 21.2 20.9 20.3 49.6 49.1 48.4 47.9 31.7 32.3 32.9 32.9 82.4 82.3 81.0 81.2 17.6 17.4 17.0 16.7 1976—Q1 Q2 Q3 20.1 19.9 19.7 47.5 47.1 46.6 33.4 33.6 34.3 81.8 80.9 81.2 16.3 16.3 16.1 1976—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 20.2 20.2 20.1 20.2 20.2 19.9 19.8 19.8 19.7 19.7 19.5 47.8 47.7 47.5 47.4 47.2 47.1 47.0 46.7 46.6 46.7 46.6 33.1 33.2 33.4 33.4 33.5 33.6 33.6 34.0 34.4 34.4 34.4 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. TABLE 11-C Liquid Asset Holdings Sum of columns 2 and 7. Sum of columns 3, 4, 5, and 6. Money stock components after deducting foreign holdings and holdings by domestic financial institutions. The three columns add to held by domestic nonfinancial sectors. Deposits at nonbank thrift institutions and credit unions, as published in money stock statistics. Sum of columns 8, 9, 10, and 11. Negotiable certificates of deposits over $100,000 at weekly reporting banks, except foreign holdings. Commercial paper held outside banks and other financial institutions. Short-term marketable U.S. Government securities excluding official, foreign, and financial institution holdings. All issues due in one year or less, including bonds and notes, plus a sliding proportion of issues due in 13 to 24 months. Series E and H savings bonds held by individuals. Sum of columns 3 and 4 to column 1. Column 6 to colum 1. Column 1 to GNP. Annual averages are based on 12-month averages of column 1 and annual GNP. Quarterly averages are based on 3-month averages of column 1 and quarterly GNP. Sum of columns 3 and 4 to GNP. Annual averages are based on 12-month average of columns 3 and 4 and annual GNP. Quarterly averages are based on 3-month average of columns 3 and 4 quarterly GNP.
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