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?• L.4.3 Not for Publication December 1978 BANKING A N D MONETARY D E V E L O P M E N T S November 1978 Banking S e c t i o n Division of Research and S t a t i s t i c s ^ Board of Governors of the F e d e r a l R e s e r v e System Table 1 Changes in Commercial Bank Credit, Money Stock, and T i m e D e p o s i t s (seasonally adjusted annual percentage r a t e s ) 1976 1977 1978 4th IstP 2ndP 3rdP P P P Qtr. Qtr. Qtr. Qtr. Aug. Sept. Oct. Year Year 3rd Qtr. Total bank credit! 8.8 10.9 10.2 9.3 10.8 US Govt securities 22.3 -2.4 10.4 - 2 0 . 3 2.1 Other securities 2.3 6.6 7.5 4.6 7.1 8.5 Loans1 8.4 14.5 14.6 15.5 13.1 2.7 12.2 11.2 11.7 Real estate loans 10.3 18.3 18.3 Consumer loans 12.5 16.7 16.1 Business loans 17.0 8.7 5.0 17.1 --12.0 9.9 P Nov. 10.7 6.7 32.2 - 8 . 6 --24.7 -61.8 9.0 10.9 10.1 7.1 2.8 19.2 11.7 9.1 12.5 16.6 17.0 16.7 17.5 10.2 10.9 9.7 12.8 10.0 17.8 17.2 19.3 17.6 19.0 15.7 16.7 21.1 15.5 16.4 23.7 15.6 12.5 12.9 17.3 n.a. Adjusted to Include Loans Sold to Selected A f f i l i a t e s Total bank creditl 8.6 11.0 10.3 9.5 10.6 17.0 8.7 5.1 9.7 9.8 6.5 8.2 14.6 14.7 15.8 12.7 19.1 11.7 9.2 12.3 15.3 16.6 Business loans 2.6 12.2 11.2 11.7 15.3 17.4 10.3 11.3 9.1 10.6 10.0 Money s t o c k — 5.7 7.8 9.0 6.6 5.2 11.5 9.2 8.5 14.1 3.7 -4.6 Total time deposits 8.0 11.4 9.9 14.5 12.3 9.1 10.6 7.5 13.8 7.9 23.7 Time other than CDs 15.0 11.2 10.8 7.7 7.4 6.8 11.3 11.5 11.8 9.1 10.7 CDs (dollar changes in b i l l i o n s ) -18.6 11.3 0.5 10.2 8.0 4.6 1.4 -1.1 1.8 0.1 7.2 Loansl T7 Adjusted to exclude domestic interbank loans. n . a . — n o t available Note: ~ Data revised to reflect benchmarking to the June 30, 1978 C a l l R e p o r t . Table 2 Loans and Investments at All Commercial Banks (seasonally a d j u s t e d ) Total! 1972- - D e c e m b e r 1973- - D e c e m b e r 1974- - D e c e m b e r 1975- - D e c e m b e r 1976-- D e c e m b e r 31 31 312,3 31 31 1977- - M a y 25 June 30 J u l y 27 A u g u s t 31 S e p t e m b e r 28 October 26 November 3 0 D e c e m b e r 31 1978- -January 25P February 22P M a r c h 29P A p r i l 26P M a y 31P J u n e 30P J u l y 26p August 31P S e p t e m b e r 27P October 25P November 29P \f 2/ 3/ U . S . Gov't Other Loans! Securities Securities (in billions of d o l l a r s ) 558.0 633.4 378.9 449.0 62.6 54.5 116.5 129.9 691.1 721.8 784.4 500.2 496.9 538.9 51.1 80.1 97.3 139.8 144.8 148.2 823.1 829.7 566.6 573.0 103.2 103.4 153.3 153.3 838.5 845.8 850.8 860.0 866.2 870.6 580.0 587.9 593.9 602.7 611.6 617.0 104.1 102.4 100.7 99.4 96.3 95.6 154.4 155.5 156.2 157.9 158.3 158.0 881.2 887.7 894.1 909.0 921.7 932.2 940.7 625.1 628.4 637.2 647.6 659.7 667.8 675.1 96.5 99.4 96.1 98.3 97.9 100.2 100.6 159.6 159.9 160.8 163.1 164.1 164.2 165.0 944.6 952.4 960.9 966.3 680.2 687.3 696.8 706.7 97.9 97.2 95.2 90.3 166.5 167.9 168.9 169.3 A d j u s t e d to exclude domestic commercial interbank loans. Beginning June 30, 1974, data revised to include one large m u t u a l savings bank w h i c h merged with a n o n m e m b e r c o m m e r c i a l bank. Total loans and investments were increased by about $600 m i l l i o n , of w h i c h $500 m i l l i o n were in loans and $100 m i l l i o n in "other securities." Beginning October 31, 1974, as the result of the l i q u i d a t i o n of one large bank total loans were reduced by $1.0 billion; b u s i n e s s loans by $0.6 billion; real estate loans by $0.2 billion; n o n b a n k financial loans by $0.2 billion; and "other securities" by $0.5 billion; however, business loans were increased and real e s t a t e loans were reduced by $0.1 billion as a result of loan c l a s s i f i c a t i o n s at one large mideastern b a n k . s e x # s # e e e # • Table 4 Loans at Commercial Banks (seasonally adjusted) Business Real Estate Consumer Security (in billions of dollars) 156.6 183.5 176.2 117.7 130.2 134.4 83.2 86.8 89.7 179.7 149.0 1 9 7 7 — S e p t e m b e r 28 October 26 November 30 December 31^ 196.0 198.7 200.2 201.44 1 9 7 8 — J a n u a r y 25P February 22P March 29P April 26P May 31P June 30P July 26P August 31P September 27P October 25P November 29P 203.8 205.8 209.8 212.4 217.9 219.0 220.8 222.8 224.6 227.0 228.9 1973—December 1974—December 1975—December 1976—December 31 311,2 31 313 Nonbank Financial Agriculture 29.0 33.8 28.5 100.9 12.1 11.3 12.2 17.3 26.0 17.5 18.4 20.4 23.5 168.8 170.9 174.0 176.64 113.4 114.7 116.3 117.8 19.2 18.9 20.1 18.7 25.2 26.0 26.0 26.1 26.0 26.1 26.1 26.0 179.0 181.6 184.2 186,6 190.0 191.3 195.9 199.0 201.6 204.4 208.0 140.9 142.5 144.9 147.7 150.4 153.5 155.1 157.8 159.5 161.8 164.2 21.4 18.8 17.1 20.3 18.7 20.9 21.4 19.1 19.5 18.4 17.6 25.4 25.4 25.3 25.4 25.6 25.6 25.4 25.9 26.4 26.7 26.6 26.1 26.0 25.7 25.9 26.2 26.5 26.8 27.1 27.5 28.0 28.4 p—preliminary n . a . — n o t available JL/ Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Real estate loans were increased by $0.5 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 loans by $200 m i l l i o n . 4J Beginning December 31, 1977, business loans were reduced by $200 million and nonbank financial loans by $100 million while real estate loans were increased by $300 million as the result of reclassifications at one large bank. Note: Data revised to reflect benchmarking to the June 30, 1978 Call Report. Changes in consumer loans reflect a major revision in Consumer Credit statistics as well. 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, NSA)1 Total loans Business & investments Total Loans Original Adjusted2 Date Commercial bank credit (seasonally adjusted) Total loans Original Adjusted2 Business loans Original Adjusted3 1972- -December 1973- -December 1974- -December^,5 1975- -December 1976- -December*) 2.6 4.3 4.8 4.4 3.8 1.7 2.6 2.7 2.5 2.4 558.0 633.4 691.1 721.8 785.1 560.6 637.7 695.9 726.2 788.9 378.9 449.0 500.2 496.9 538.9 381.5 453.3 505.0 501.3 542.7 130.4 156.6 183.5 176.2 179.7 132.1 159.2 186.2 178.7 182.1 1977- -October 4.3 4.7 4.9 2.5 2.6 2.8 860.0 866.2 870.6 864.3 870.9 875.5 602.7 611.6 617.0 607.0 616.3 621.9 198.7 200.2 201.47 201.2 202.8 204.27 1978- -January 4.8 4.6 4.5 4.4 4.4 4.5 4.6 4.7 4.6 3.9 3.7 2.5 2.3 881.2 887.7 2.2 894.1 886.0 892.3 898.6 913.5 926.1 936.7 945.3 949.3 957.0 964.8 970.0 625.1 628.4 637.2 647.6 659.7 667.8 675.1 680.2 687.3 696.8 706.7 629.9 633.0 641.7 652.1 664.1 662.3 679.7 684.9 691.9 700.7 710.4 203.8 205.8 209.8 212.4 217.9 219.0 220.8 222.8 224.6 227.0 228.9 206.3 208.1 212.0 214.7 220.2 26 November 30 December 31 25P February 22P March 29P April 26P May 31 June 3OP July 26P August 31P September 27P October 25P November 29 p—preliminary 2.3 2.3 2.2 2.3 2.4 2.3 1.9 1.9 r—revised 909.0 921.7 932.2 940.7 944.6 952.4 960.9 966.3 . 221.2 223.1 225.2 226.9 228.9 230.8 : ; TJ To bank holding companies, affiliates, subsidiaries, and foreign branches. Beginning August 28, 1974, loans sold outright to selected bank affiliates reflect a newly issued definition of the group of affiliates included as well as a somewhat different group of reporting banks. 2/ Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign banks. jV Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. 4/ 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. y Beginning October 31, 1974, as the result of the liquidation of one large bank, total loans and investments were reduced by $1.5 billion; total loans by $1.0 billion; and business loans by $0.6 billion. However, as the result of loan reclassifications at another large bank, business loans were increased by $0.1 billion. y Beginning March 31, 1976, as the result of loan reclassifications in Chicago City and in the San Francisco District, business loans were reduced by $1.2 billion. 7/ Beginning December 31, 1977, business loans were reduced by $200 million as the result of loan reclassi fications at one large bank. http://fraser.stlouisfed.org/ # # Federal Reserve Bank of St. Louis e / s e # e # * # Table 5 Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted (in billions of dollars) -122L 1978 Loans & Investments^ Oct. +9.2 Nov. +6.2 US Govt securities -1.3 -3.1 Other securities +1.7 +0.4 8.8 + 2.7 +2.1 + 1.8 -0.3 +0.8 +0.1 + 1.6 Feb. +6.5 Mar. +6.4 Apr. +14.9 +0.9 +2.9 -3.3 -0.3 + 1.6 +0.3 +8.9 +5.4 +8.1 + 1.5 +3.1 +2.3 +1.2 1/ 1/ +0.8 + 1.4 +2.3 +2.2 -1.4 +0.2 -0.1 +0.8 +2.4 +2.4 + 1.7 +2.7 -0.7 +0.1 -0.5 1 Business Real estate Consumer Security Nonbank financial Agriculture All other Jan. +10.6 0 Loans2 Dec. +4.4 May. +12.7 Jun. +10.5 +2.2 -0.4 +0.9 +2.3 +3.3 +8.8 +2.0 +2.6 + 1.6 -2.6 1/ -0.1 -0.2 +4.0 + 2.6 + 2.4 -1.7 -0.1 -0.3 + 1.9 Jul.p +8.5 Aug.p +3:9 +7:8 +8.5 +2.3 +0.4 -2.7 -0.7 -2.0 -4.9 + 1.0 tO.l +0.8 + 1.5 +1,4 + 1.0 +0.4 +10.4 +12.1 +8.1 +7.3 +5.1 +7.1 +9.5 +9.9 +2.6 +2.4 +2.8 +3.2 +0.1 +0.2 -0.9 +5.5 +3.4 +2.7 -1.6 +0.2 +0.3 + 1.6 + 1.1 +3.1 +3.1 +2.2 1/ +0.3 -1.7 + 1.8 +2.8 +1.6 +0.5 -0.2 +0.3 +0.5. +2.0 +3.1 +2.7 •*2.3 +0.5 +0.3 -1.2 +1.8 +2.6 +1.7 +0.4 +0.5 +0.4 -0.3 +2.4 +2.8 +2.3 -1.1 +0.3 +0.5 +2.3 +1.9 +3.6 n,a. Sept,p Oct .p Nov .p +5.4 -0.8 -0.1 +0.4 n.a. Adjusted for Loans Sold to Affiliates Loans & Investments2 +9.2 +6 .6 +4.6 +10.5 +6.3 +6.3 +14,.9 +12.6 +10 .6 +8.6 +4.0 +7.7 +7 .8 +5.2 US Govt securities -1.3 -3,.1 -0.7 +0.9 + 2.9 -3.3 + 2..2 -0.4 +2 .3 +0.4 -2.7 -0.7 - 2 .0 -4.9 Other securities +1.7 +0 .4 -0.3 + 1.6 • +0.3 +0.9 +2..3 +1.0 +0..1 +0.8 + 1.5 +1.4 +1 ,0 +0.4 Loans2 +8.8 +9,.3 +5.6 + 8.0 + 3.1 +8.7 +10.,4 +12.0 +8.,3 + 7.4 +5.2 +7.0 +8 .8 +9.7 + 2.6 + 1..6 + 1.6 +2.1 + 1.8 + 3.9 +2. 7 +5.5 + 1.,0 + 1.9 +2.1 + 1.7 +2 .0 + 1.9 Business 1/ 2/ Less than $50 million. Adjusted to exclude interbank loans. NOTE: Data revised to reflect benchmarking to the Jime 30, 1978 Call Report. Changes in consumer loans also reflect major revision in Consumer Credit series. / Table 6 Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, not seasonally adjusted Adjusted for loans sold (in billions of dollars) ItemP/ All Commercial Banks2 Total loans U.S. Gov't, securities Other securities Total 1978P 1977P 1976 1975 1974 1973 Late October to Late November 1972 1971 +10.5 -1.0 +1.2 +10.7 +9.5 + .2 +1.4 +11.2 +3.4 +3.6 +1.6 +8.6 +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 All Large Banks2,3 Total loans US Govt securities Other securities Total +7.2 -0.4 +0.5 +7.3 +6.3 + .5 + .9 +7.7 +1.3 +2.8 +.9 +5.0 +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 Other Banks2,3 Total loans US Govt securities Other securities Total +3.3 —0.6 +0.7 +3.4 +3.1 -.3 + .6 +3.5 +2.1 + .7 +.7 +3.5 +1.2 +1.0 +.2 +2.4 + .4 +2.1 + .7 +2.5 + .3 + .2 +3.0 +2.0 1/ +.3 +2.3 — — + .4 + .7 mm mm +2.8 End of December to late November All Commercial Banks2 Total loans US Govt securities Other securities Total +77.2 -7.7 +10.7 +80.2 +61.9 -4.0 +9.8 +67.7 +24.0 +13.8 +3.2 +40.9 -13.2 +24.9 +4.9 +16.6 +44.7 -6.1 +8.0 +46.5 +58.4 -9.3 +9.5 +58.6 +43.2 -1.7 +10.2 +51.J6 +18.9 -.7 +14.8 +33.0 All Large Banks2,3 Total loans US Govt securities Other securities Total +35.1 -5.7 +3.0 +32.3 +20.8 -5.2 +5.7 +21.2 -3.2 +6.4 +.7 +3.9 -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 +6.4 +9.0 Other Banks2,3 Total loans US Govt securities Other securities Total +42.1 -1.9 +7.7 +47.9 +41.1 +1.2 +4.1 +46.4 +27.2 +7.4 +2.4 +37.0 +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 1/ +7.2 +28.4 +14.6 + .7 +8.7 +23.9 2/ Less than $500 m i l l i o n . Based on revised reporting beginning July 1969. maintain comparability of series. Changes have been adjusted to 3/ Based on revised coverage beginning July 1966 and January 1967-1978. NOTE: Data exclude all interbank loans; call report data for large banks used when available. Loans adjusted to include all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. Allowance has been made in monthly changes for all loan and security reclassifications. For description of reclassifications, see Tables 3 and 8, s e # # e # e e e • Table 7 Changes in Commercial and Industrial Loans at Large Commercial Banks (in millions of d o l l a r s ) Late October to Late November 1/ 1976 1975 1977 1978 P Business of Borrower 1974 Food Processors Commodity Dealers Trade Concerns Retail Trade Wholesale Trade Metals Primary Metals Machinery Transportation Equipment Other Fabricated Metals Textiles, A p p a r e l , etc. Petroleum Chemicals Other Durable Manufacturing Ot he r Nondurable Manufacturing Mining Public Utilities, total Transportation Communication O t h e r Public Utilities Construction All Other Types of Business Bankers Acceptances Services Other Foreign Business Concerns Classified Unclassified Total Change 103 517 480 176 304 -40 14 44 19 -117 -248 53 —60 -85 189 161 27 -57 84 -285 123 -328 142 -222 -159 -29 -175 -226 -8 84 230 85 145 136 144 13 -68 47 -161 -94 -91 -56 146 208 93 31 62 -146 -78 -119 88 -37 -259 98 12 -137 -81 237 134 -7 -93 234 78 185 190 73 -78 -132 1142 334 1475 —96 15 -150 -40 —66 —44 -203 1857 1706 39 112 87 1013 -237 776 88 48 119 42 33 44 -116 1697 1375 12 310 -22 1854 271 2125 -30 86 132 102 74 -44 74 821 551 124 146 -391 707 480 1187 Late December to L a t e N o v e m b e r 1974 1975 187 -18 171 58 113 -72 -70 6 37 -45 -294 95 -71 14 400 293 2376 1141 1235 3769 126 2040 1014 589 629 585 784 1334 -1301 -401 -1525 -1089 -436 -4437 91 -3234 -508 -768 —764 472 -762 -1347 -401 381 1266 606 660 -2543 43 -1141 -1042 -403 503 72 -136 -285 207 -102 2142 823 1319 391 73 -141 207 252 414 267 366 322 749 -158 3719 1841 1878 1329 -245 730 351 493 684 -147 349 505 4 34 225 -17 45 197 -57 754 250 200 304 257 1229 485 1714 306 984 2534 121 207 2206 836 2465 368 757 1340 195 17490 2027 19517 -680 435 -1926 -263 -216 -1447 -628 809 2393 -1375 -209 986 -11069 -948 -12017 4 1509 -2692 -834 —546 -1312 -1227 -1574 1008 -302 -2280 175 -4957 -147 -5104 251 1107 -729 -131 20 -618 618 -1041 -1632 148 443 -1203 3010 3171 6181 172 1547 670 296 369 5 672 1086 -2681 2793 974 619 11796 2947 14743 1976 1977 19782/p ~ \J Five most comparable weeks used throughout. 2/ Changes are compiled from December 26, 1973; December 25, 1974; December 24, 1975; December 29, 1976; and December 28, 1977. These data cannot be linked with all commercial bank data which are always for D e c e m b e r 31. Date 1973—Dec 1974—Dec 1975—Dec 1976——Dec Loans and Investments 647.3 31 311, 2 705.6 737 .0 31 313 801.6 Table 8 Loans and Investments of All Commercial Banks* (in billions of d o l l a r s , not seasonally adjusted) Other SecuTotal Real US Business Security Loans Estate Govt rities 159.4 118.0 58.3 130.6 14.6 458.5 186.8 130.6 140.5 510.7 13.7 54.5 179.3 145.5 134.8 14.8 507.4 84.1 182.9 148.9 550.2 149.5 21.2 102.5 1977—Aug Sep Oct Nov Dec 31 28 26 30 31 843.9 849.9 858.2 869.3 888.9 99.7 98.8 98.2 98.5 100.2 155.3 156.1 157.3 158.8 158.8 588.9 595.0 602.6 612.1 629.9 193.6 195.3 198.2 200.2 205.04 167.0 169.6 171.9 174.7 177.24 18.4 18.5 18.4 20.6 26.1 26.3 26.1 25.9 113.0 114.6 115.6 116.6 25.2 25.3 25.7 26.1 22.9 25.7 118.7 27.14 19 7 8 — J a n Feb Mar Apr May Jun Jul Aug Sep Oct Nov 25p 22P 29P 26P 31P 30P 26P 31P 27P 25P 29P 876.6 879.4 891.6 907.9 920.8 938.7 936.6 942.0 951.4 958.4 969.1 98.1 99.9 99.0 100.2 97.3 97.8 96.1 94.8 95.0 93.5 92.6 159.1 158.9 160.3 164.1 164.6 165.1 164.9 166.2 167.7 168.3 169.5 619.5 620.6 632.3 643.6 658.9 675.8 675.6 681.0 688.6 696.6 707.1 201.6 203.9 209.5 212.9 217.9 221.6 220.9 221.7 223.9 226.5 228.9 178.8 180.5 183.1 185.7 189.2 192.9 196.1 199.8 202.6 205.6 208.8 21.0 17.7 17.1 19.1 19.0 21.1 20.4 18.7 18.7 17.9 17.9 25.6 25.5 25.4 25.8 26.3 27.0 27.3 27.6 27.8 28.0 28.2 140.5 140.9 142.9 146.2 149.3 153.5 155.9 159.4 161.3 163.1 n.a. 24.9 24.8 25.0 25.1 25.6 26.3 25.7 26.1 26.5 26.4 26.6 Farm 17.3 18.2 20.2 23.3 Nonbank Financial All Inst. Consumer Other 30.5 83.7 35.0 35.2 87.3 38.8 29.6 90.2 38.4 101.7 27.0 44.6 45.6 45.4 46.7 48.0 27.1 27.3 29.3 28.8 31.6 33.4 29.3 27.7 27.8 29.1 n.a n . a . — n o t available 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. JJ Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a n o n m e m b e r commercial bank. Total loans and investments were increased by about $600 million of which $500 m i l l i o n were in loans and $100 m i l l i o n in "other securities. 1 1 2/ 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 b i l l i o n . However, business loans were increased and real estate loans reduced by $0.1 billion as the result of loan reclassifications at one large m i d e a s t e r n bank. 3/ Beginning March 31, 1976 as the result of loan reclassifications, business loans were reduced by $1200 m i l l i o n , real estate loans increased by $800 m i l l i o n , n o n b a n k financial by $200 million and other loans by $200 m i l l i o n . 4/ Beginning December 31, 1977, business loans were reduced by $200 m i l l i o n and nonbank financial by $100 m i l l i o n , while real estate loans were increased by $ 3 0 0 m i l l i o n as the result of reclassification at one large bank. http://fraser.stlouisfed.org/ # # Federal Reserve Bank of St. Louis # e e * # e # • 1 < Table 9 Liquidity Ratios Liquid Assets to Liabilities at Large Commercial Banks 1 Borrowing Ratios at Large Commercial Banks2 1972™December 1973—-December 1974—-De c ember 1975—December 1976——December 1977—December 13.0 11.0 9.7 13.0 14.1 14.0 18.9 25.6 28.6 33.2(26.1) 29.7(24.4) 27.8(22.7) 67.9(67.7) 72.0(71.8) 72.9(72.5) 68.7(68.3) 69.7(69.1) 72.2(71.7) 1977—January February March April May June July 28.9(23.6) 28.6(23.2) 28.3(23.0) 27.8(22.7) 29.0(23.9) 28.4(23.2) 28.8(23.5) Augus t September October November December 14.0 13.2 13.2 13.7 13.1 13.5 13.3 13.5 13.5 13.4 13.8 14.0 70.4(70.0) 70.4(70.1) 70.5(70.2) 71.1(70.8) 72.2(71.8) 71.7(71.3) 72.5(72.2) 28.9(23.5) 29.5(24.1) 30.2(24.8) 30.6(25.1) 31.4(25.8) 72.6(72.3) 73.3(72.9) 73.6(73.1) 73.2(72.8) 72.2(71.7) 1978——January February March April May June July August September October November 13.4 12.5 12.1 12.3 11.4 11.4 10.9 10.5 10.5 10.3 10.4 31.3(25.6) 32.1(26.3) 32.3(26.5) 32.2(26.4) 32.8(26.9) 32,7(26.9) 32.2(26.3) 33.4(27.3) 33.0(27.5) 33.9(27.9) 35.2(29.0) 73.7(73.2) 73.1(72.7) 73.8(73.4) 74.2(73.8) 74.1(73.7) 75.4(74.9) 76.3(75.9) 76.7(76.2) 76.5(76.1) 77.4(76.7) 78.1(77.3) 1 Loans to Deposits at all Commercial Banks3 Monthly averages of Wednesday figures. Liquid assets include Treasury and other secutities maturing in one year or less, loans to brokers and dealers and domestic commercial banks, holdings of bankers acceptanes and gross sales of Federal funds. Liabilities are total liabilities less capital accounts, valuation reserves, and demand deposits due to banks. 2 Monthly averages of Wednesday figures. The numerator includes gross liabilities banks to their foreign branches, large negotiable CD's, net Federal funds purchased, and borrowings from other than the Federal Reserve. Beginning in 1975 all large time deposits are included; the figures in parentheses include negotiable CD s only to maintain comparability with earlier data. The denominator is total assets less Federal funds sold less cash items in process of collection. Last Wednesday of the month except for. June and December Call dates. Total loans exclude loans to banks and total deposits exclude cash items in process of collection. Ratios in parentheses are those obtained by adding Euro-dollars to the deposit base. I Table 10 Money Stock Measures and Deposit Turnover (seasonally adjusted; dollar amounts in billions) Time Other Mi1 M2-i Date 1973—Dec 1974—Dec 1975—Dec 1976—Dec 270.5 282.9 295.2 313.5 571.4 664.7 740.5 919.2 981.2 1092.5 1236.5 1977—Oct Nov Dec 335.9 336.2 338.5 801.4 805.4 809.5 1357.9 1367.1 1376.1 1978—Jan Feb Mar Apr May Jun Jul Aug Sep Oct NovP 341.7 341.8 342.9 348.5 350.6 352.8 354.2 356.7 360.9 362.0 360.6 815.9 819.1 1386.6 1393.1 1400.3 1411.4 1419.9 1429.8 1441.0 1455.1 1472.1 1484.7 1491.8 November 1 8 15 22 29 361.2 362.3 361.4 359.3 358.7 612.2 822.6 830.3 835.2 840.6 846.2 853.5 862.4 867.4 870.5 868.2 870.9 870.9 870.1 869.2 CDs 63.0 89.0 81.3 62.7 than CDs 300.9 329.3 369.6 427.0 Total time 363.9 418.3 450.9 489.7 Institutions4 347.8 369.1 427.8 496.0 87.1 87.7 248.7 248.5 249.9 66.4 70.9 74.0 465.6 469.3 471.0 531.9 540.2 545.0 556.5 561.7 566.6 3.1 3.0 3.6 82.1 89.4 90.1 90.7 91.2 92.1 92.8 93.3 94.0 95.2 96.0 96.8 252.2 251.7 252.3 257.3 258.5 259.9 260.9 76.3 79.4 551.0 557.5 562.9 565.2 571.6 574.5 579.4 583.0 589.7 593.6 605.3 570.7 574.0 577 .7 581.2 584.7 589.2 594.7 3.1 3.0 3.4 3.3 90.5 92.0 93.8 93.5 96.4 98.0 95.5 99.7 598.9 602.6 604.9 607.0 606.9 Currency 61.5 67.8 73.7 80.7 88.6 96.5 96.4 96.6 96.9 97.0 266.1 88.1 88.2 263.8 95.4 474.7 478.1 480.9 481.8 484.5 487.8 492.0 496.7 501.6 505.4 509.9 91.8 94.0 95.4 96.3 96.4 507.1 508.6 509.5 510.8 510.5 262.8 265.7 264.6 265.9 264.8 262.4 261.7 82.0 83.4 87.1 86.7 87.4 86.3 601.6 609.6 616.3 621.3 n.a. n.a. n.a. n.a. n.a. (all member) ~T7S 3.3 2.9 3.2 Turnover outside Demand Deposits 209.0 215.1 221.5 232.8 Mg3 n.a. n.a. n.a. n.a. n.a. Nonbank US Govt Thrift deposits NYC (%) 65.0 74.8 73.7 83.7 88.7 87.0 2.6 3.9 3.7 3.3 4.1 3.5 2.3 98.6 102.2 n. a. n.a. n.a. n.a. n.a. n.a. 2.9 3.0 2.3 2.0 1.9 n . a . — n o t available p—preliminary r-revised 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 process of collection, and FR float, (2) foreign demand balances at FR Banks, and (3) currency outside the Treasury, FR Banks, and vaults of all commercial banks. 2/ Includes in addition to currency and demand deposits, savings deposits, time deposits open account, and — time certificates of deposit other than negotiable time certificates of deposit issued in denominations of $100,000 or more by large weekly reporting commercial banks. 3/ Includes M2 p i u s the average of the beginning and end of month deposits of mutual savings banks, savings and loan shares, and credit union shares. . , Average of beginning and end of month deposits at mutual savings banks, savings and loan shares, and Digitized for 4V FRASER http://fraser.stlouisfed.org/ credit u&ion s h a r e s . — k Federal Reserve Bank of St. Louis — ^ ~ A A *
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