Full text of L.4.3 Banking and Monetary Developments : December 20, 1972

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lU
'

December 20, .1972




L.4.3
Not .SorWuDlication

BANKING A N D MONETARY DEVELOPMENTS
November 1972

Banking Section
Division of Research and Statistics
Board of Governors of the Federal Reserve System

TABLE 1

V\

Changes in Commercial Bank Credit, Money Stock,
and Time Deposits

X

x\

Seasonally adjusted annual rates (per cent)
1972
1970 1971
1969
3rd
2nd
1st
1st
Year Year Half
Otr.
Year
Otr.
Otr.
2.9

8.4

11.4

13.1

15.9

9.9

13.8^

U.S. Gov't, sec.

•15.7

12.6

4.7

8.2

10.5

5.8

-7.6

Other securities

-0.3

20.6

20.7

11.7

16.8

6.2

9.8

8.2

4.5

12.5

14.4

16.5

11.9

10.2

3.7

5.4

9.7

10.0

Real estate loans

8.3

3.6

13.7

19.4

Consumer loans 3/

10.0

5.3

12.7

13.3

Total bank credit

Loans
Business loans

' -

Oct.

Nov

.1

11.4

20.0

-40.6

14.0
19.1

19.0^

24.0

20.9

9.1

12.9

20.2

14.2

18.7

19.2

17.5

16.7

20.3

11.9

14.2

18.0

19.6

19.3

Adjusted for loan sales to bank affiliates
2/

3.9

8.1

11.3

12.8

15.7

9.5

13. (A

11.4

20.6

9.7

4.1

9.9

14.0

16.3

11.2

18.9^

23.5

21.8

12.9

3.1

4.8

1/
9.4—

21.0

15.9

3.2

5.4

6.2

7.4

9.3

5.,3

8.5

3.5

6 .4

-4.9

17.9

17.9

15.6

14.8

15.,7

13.2

11.6

9.9

Time other than CD's

1.4

11.0

16.2

14.7

17.1

11.,8

10.1

11.5

8.7

CD's (Dollar change
in billions)

-12.6

14.5

7.9

3.7

-0.1

3,,7

3.2

0.4

0.6

Total bank credit
Loans
Business loans

Money stock
Total time deposits

10.6

8 . 0 ^ 12.4

V
Beginning June 1972, business loans were reduced by $400 million as a result
of loan reclassifications at one large bank. Changes have been adjusted to take account
of this reclassification.
2/
Includes $800 million system matched sale-purchase transactions outstanding on
September 27.
3/ includes $300 million system matched sale-purchase transactions outstandlag on
November 29.







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

(In
1968—Dec. 31
1969—Dec. 31 2/
1970—Dec. 31

390.6
402.1
435.9

1971—June 30 (old)
(new) 4/
July 28
Aug. 25
Sept. 29
Oct. 27
Nov. 24
Dec. 31
1972—Jan. 26
Feb. 23
Mar. 29
Apr. 26
May 31
June 30
July 26
Aug. 30
Sept.27 p
Oct. 25 p
Nov. 29 p

b 11 1 i o n 8
258.2
279.4
292.0

• 461.1

Other
securities

U.S. Gov't,
securities

Loans

Total

of

d o l l a r s
61.0
51.5
58.0

)
71.4
71.2
85.9

62.8

463.7
468.4
472.4
477.2
479.8
485.7

302.4
301.7
304.1
309.7
313.0
317.0
318.7
320.6

61.6
60.9
59.9
59.1
58.8
60.7

95.9
96.6
98.0
97.8
99.5
101.1
102.2
104.5

491.4
496 .6
505.0
507.4
516.1
517.5
521.9
529.8
535.3 5/
540.4 ,
549.4—

325.7
328.5
333.8
335.9
341.9
343.7
348.4
356.2
360.0 5/
367.2
373.6

59.7
61.0
62.3
62.6
63.1
63.2
62.3
61.4
62.0
59.9
60.6

106.0
107.1
108.9
108.9
111.1
110.6
111.2
112.3
113.3
113.3
115.1

1/ Adjusted to exclude domestic commercial interbank loans.
p - Preliminary.
2/ 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.
4/
5/
6/

Beginning June 30, 1971, Farmers Home Admin is t r a t ion insured notes totaling approximately $700 million
are included in other securities; previously thev had been included in real estate loans.
Includes $800 million system matched sale-purchase transactions outstanding on September 27.
Includes $300 million system matched sale-purchase transactions outstanding on November 29.

a

a

*

a

a

a

a

a

x'

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
nonbank public 2/
Affiliates 1/
Business
Business
Business
Loans
Total
Total
Loans
Total

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

Total loans
Original
Adjusted 3/

Business loans
Original

|!971
w

Jan.

27
Feb. 24
Mar. 31
Apr. 28
Mnv 26

J une

(new]
July 20
Aug. 25
I Sept .29
Oct. 27
Nov. 24
Dec. 31
1972
Jan. 26
Feb. 23
Mar. 29
^Apr. 26
May 31
June 30(old)
(new)
July 26
Aug. 30
Sept.27 p
Oct. 25 p
Nov. 29 p

1971
Jan. 27
Feb. 24
Mar. 31
Apr. 28
May 26
»June 30
Pjuly 28
Aug. 25
Sept.29
Oct. 27
Nov. 24
Dec. 31

4.6
4.5
4.5
4.4
4.5

2.5
2.5
2.3
2.3
2.3
2.3

4.4
4.4
4.6
4.5
4.4
4.5

2.2
2.3
2.3

2.9
2.9
2.9
2.7
2.8
3.1

2.1
1.9
1.9
1
1.0

1.6
1.7
1 .7
1.6

2.8

1.8
1.8

1.6
1.6
1.6
1.6
1.6

2.8
3.0
2.9

1.7

2.1

1.6

1.9

0.4
0.4
0.4
0.4
0.4
0.4

440.7
6/
446.1449.5
452.5
456.1
461.1

443.6
6/
449.0%452.4
455.2
458."
464.1

0.4
0.5
0.4
0.4
0.4
0.4

463.7
468.4
472.4
477.2
479.8
485.7

491.4
496.6
505.0
507.4
516.1
517.5

2.2
2.2
2.0

2.8
2.8

1.8
1.8
1.6

4.6
4.5
4.4
4.4
4.2
3.9

2.1
2.0

3.0
2.9

1.7
1.7

1.6
1.6

2.7
2.5
2.3

1.7
1.5
1.4

1.7
1.7

1.6

0.4
0.3
0.4
0.4
0.4
0.4

4.0
4.1
4.0
4.0
4.3

1.7
1.9

2.3
2.4
2.3
2.3
2.5

1.4

1.7
1.7
1.7
1.7
1.8

0.3
0.3
0.3
0.3
0.3

5/

-0.1

2.2

2.1
1.9

1.8

1.8

1.8
1.9

%

5/

-0.2

0.1

V

-0.3
5/

-0:1

-0.1
0.2

0.2
0.1

0.1

5/

-0.1

2.8

5/
•0.1
5/
•0.2
0.1
0.3
•0.3
5/
0.2
0.1
0.1
0.1

0.1
0.1

-0.2

1972
Jan. 26
@ F e b . 23
Mar. 29
Apr. 26
May 31
June 30
July 26
Aug. 30
Sept.27

0.1
0.1
•0.1
5/
•0.2
0.3
0.1
0.1
0.1

0.1
-0.1
0.2
-0.1
-0.2
-0.1
-0.1
0.2
-0.1

Oct. 25
# N o v . 29

5/
0.3

5/

5/

0.1

0.2

p e—
1/
2/
3/
4/

0.1
•0.1
0.1
0.1
0.2
0.2

5/
0.1
0.1

1.7

1.6

1.8

1.6
1.5
1.5

1.6

5/
5/
-0.2

l

-0.1
5/
0.1
-0.1
-0.2

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

5/
-0.1

5/

0.1
5/
-0.1

I

I
I!

I'i
-0.1

I

-0.1

i;

0.1

5/

-0.1
0.1

%

5/
-0.1
0.1

I

521.9

466 .5
471.1
475.4
480.1
482.6
488.6

293.7
6/
295.7
296.5
250.2
30f .7
302.4
7/
301.7304.1
309.7
313.0
316.3
317.5
320.6

296.6, .
298.6-'
299.3
300.9
303.5
305.5 ,
304.8307,0
312 .4
316.0
319.3
320.3
323.4

494.4
499.5
507.8
510.1
518.6
519.8

325.7
328.5
333.8
335.9
341.9
343.7

328.7
331.5
336.6
338.5
344 .4
346.0

524.2
542.6
551.9

10/

348.4
356.2
360.0%'
367.2
373.

350.7

,10/

110.3
111.3

111.1
111.7
112.6
112.1
113.2
115.2
116.2

116.6
116.0
115.5

116.4
117.3
118.4
119.9
121.2

121.1
120.7
121.4
123.9
124.6
126.7
128.2

112.4
113.4
113.0
113.6
114.5
114.0
115.0
117.0
118.1
118.4
117.8
117.1

118.1
119.0

120.2
121.5
122.6

122.6

122,22

122.9
125.4

126.0

128.2
129.9

Net Change
(Billions of dollars)
13.2
14.7
9.1
8.0
9.5
13.2

12.8
14.6
9.1
7.4
9.8
13.3

7.0
8.2
3.2
6.9

10.1
6.8
9.5

6.8
12.2
10.2

6.2
11.8
11.0

22.1
12.8

12.2
6.5
14.8

11.9
6.2
14.9

15.3
6.4
7.2

14.1
12.7
20.3
5.7

14.2
12.4
19.9
5.4

19.1
10.3
19.4
7.5
21.4
6.3
16 .4
26.9

20.6

20.0

3.3

2.3

10.2

10.2
18.3
11.9
11.4

20.6

5/

5/

18.2
12.5
11.4

0.1

5/

20.0

12.8
24.0
20.9

6.9
8.1
2.8
6.4
10.4
7.9
8.7
21.1
13.8
14.8
6.4
6.7
19.7

10.2

7.7
10.9
-2.2
6.5
9.7
-5.3

11.8

21.2
10.4
4.1
-6.2
-5.2

9.4
9.3
11.3
15.2
13.0
-1.0
7.0
24.7
6.8

7.5
10.7
-4.2
6.4
9.5
-5.2
10.5
20.9
11.3
3.0
-6.1
-7.1

10.2
9.1

18.5
6.8
20.9
5.6
16.3
27.0
12.4
23.5

20.2

21.0

21.8

14.2

15.9

12.1
13.0

10.8
6.9
24.4
5.7

Pre Urinary
Estimated
To bank holding co~r>aniec affiliates subsidiaries or foreign branches.
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.
^6/
Includes $800 million system matches sale-purchase transactions outstanding on February 24
7/ Beginning J une 30, 1071, Farmers Home Administration insured notes totaling approximately $700 million are included in "other securities"
rather than in "real estate loans".
8/ Beginning June 1072, business loans were reduced by about $400 million as the result of loan reclassifications at one large bank.
9!
Includes $800 million system matched sale-purchase transactions outstanding on September 27.
IQ/ Includes $300 million system matched sale-purchase transactions outstanding on November 29.




TABLE 3 - Supplementary
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
Loans
Total
Loans
Total
Total
Loans

1969
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

28
30
30
27
24
29
26
31

2.0

1970
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

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

7.7
8.3
8.5
9.0
9.8
9.8
10.0
9.6

During
month
ending:
June 30
July 30
Aug. 27
Sept. 24
Oct. 29
Nov. 26
Dec. 31
1970 *
Jan. 28
Feb. 25
Mar. 25
Apr. 29
May
27
June 30
July 28
Aug. 25
Sept. 30
Oct. 28
Nov. 25
Dec. 31

8/

8/
1.1
8/
1.7
2.4
2.7
3.0
3.9
fx .1
3.2

2.8
3.7
4.24.7
5.9
6.1
5.3

5.1
5.8
6.0
6.4
7.1
7.2
6.9

6.0
6.6
6.8

4.2
3.7
3.2
2.5

6.6

6.8
6.0

5.4
4.7

1.5
2.1
2.8
3.3
3.8
4.8
4.8
3.9

1.9
2.2
2.5
3.3
3.4
2.6

0,5
0.7
0.9
0.9
0.9
1.1
1.3

1.4
1.7
1.7
1.7
1.8
1.7
1.7

8.2

4.4
5.0
5.3
5.6
6.4
6.5
6.3

6.0

1.8
1.6

5.2
4.4
3.8
3.0

3.7
3.2
2.7
2.1

1.6
1.6
1.6
1.7

7.2
8.1

8.1

8.0

Commercial bank credit
(seasonally adjusted)
Total loans
and investments
Original
Adjusted 3/
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
282.6
,283.3

102.3
102.4
102.7
103.4
104.2
104.6

406.3
407.0
410.7
413.1
415.8
416.5
422.5
427.5

284.5
284.8
286.5
286.5
287.2
287.6
291.4
293.7

0.5
0.5
0.5
0.4

424.3
426.2
429.3
435.9

429.5
430.6
433.1
438.9

278.5
278.3
279.6
279.3
279.1
279.5
283.2
285.7
288.4
289.1
290.0
292.0

105.2

0.6

400.3
400.4
403.9
405 . 9
407.7
408.4
414.3
419.5

0.5
0.5
0.5

0.6
0.7

0.6
0.7

0.8
0.7

0.8
0.7
0.7

0.6

0.8

0.6
0.7
0.3
0.3
0.9
0.2
-0.9

0.6
0.7
0.5
0.5
1.0
5/
-0.9

0.5
0.6
0.3
0.3
0.8
0.1
-0.8

0.2
0.2

0.1

%

0.2
0.2
0.1

i,

0,1
-0.1

2.4

1.9
0.7
0.2
0.4
0.7
0.1
-0.3
-0.3
•2.4
-0.5
-0.5
-0.7

2.1
0.6
0.2
0.4
0.9
5/
0.1
-0.2
-2.8
-0.8
-0.6
-0.8

1.8
0.6
0.3
0.3
0.8
0.1
-0.2
-0,3
-2.3
-0.5
-0.5
-0.6

0.3
5/

0.1

0.5

0.8
5/

0.2
-0.4
-2.8
-0.8
-0.6
-0.7

Partly estimated.

293.6
293.5
293.8
294.9

105.1

105.7

105.1
105.1

105.3
105.5

106.2

107.0
108.5
109.5

109.4
109.3
109.6

103.1
103.7
104.6
105.6
106.7
107.9
108.5
108.3
109.6
1-10.1
110.4
110.9
111.9
112.7
113.3
114.5
113.2
112.6
112.0
111.7

(Annual rates in per cent)

0.9
0.5
0.5
1.2
0.2
-0.8

0.2

Business loans 11/
Original
Adjusted 4/

399.8
400.6
399.5
398.9
398.6
399.5
402.3
402.1

H i '

Net Change
(Billions of dollars

0.6

Total loans
Original
Adjusted 3/

I
I

0.1

-0.2

0.1

0.1

0.1

0.1

-0.1

0.1

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


9/ Adjusted to maintain comparability with subsequent data.


2.4
-3.3

-1.8
-0.9
2.7
8.4
-0.6

-5.4
0.3
10.5
5.9
5.3
2.1
17.3
15.1
13.7
5.4
8.7
18.4

4.2
-1.2
-0.3

0.6

5.7
8.3
-3.2

0.9
2.1
10.9
7.0
7.8

2.0

17.3
14.2
5.6
3.1
7.0
16.1

c - Corrected.

4.0
-1.3

2.2
6.6
8.8
9.6
6.9

-3.9
-0.9
5.6
-1.3
-0.9
1.7
15.9
10.6
11.3
2.9
3.7
8.3

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
-0.4
-0.4
1.2
4.5

1.1
3.5

8.2
9.3
4.6
5.7
6,9
-5.7
-1.1
2 .2
2.3
8.0
9.0
16.8
11.1
-1.1
-1.1
3.3

7.0
10.4
11.5
i3*5
6.7
-2.2
14.4
5.5
3.3
5.4
10.8
8.6
6.4
12.7
-13.6
-6.4
-6.4
-3.2

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

.

Date
Total

Total

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

Through
brokers
and 1/
dealers

Direct^

Commercial
paper 2/

Loans sold under
repurchase agreement 3/
"
Customer
To the
nonbank, guaranteed Ineligible
To bank
acceptances
paper
Total affiliates— 1 public—

1969
May
Dec.

28
31

12.7
19.6

10.9
14.5

9.9
12.8

0.6
0.8

0.1 6/
0.6

0.2 6/
0.3

0.8
4.3

1.0
0.8

0.4
0.6

0.6
0,2

0.1
0.3

0.1

1970
June
Dec.

24
30

21.5
11.7

13.1
8.6

12.2
7.7

0.6
0.7

0.2
0.1

0.1

7.6
2.3

0.7
0.7

0.7
0.7

0.1
Z/

0.3
0.3

0.5
0.2

1971
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

30
28
25
29
27
24
29

5.2
5.2
4.9
6.0
6. 6
7.0
4.4

2.2
2.1
1.9
2.8
3.3
3.7
1.3

1.5
1.5
1.4
2.5
2.9
3.3
0.9

0.6
0.6
0.5
0.4
0.4
0.4
0.4

7/

7/

1.7
1.8
1.8
1.9
2.0
2.0
2.0

1.3
1.3
1.3
1.3
1.3
1.3
1.2

1.1
1.1
1.1
1.1
1.1
1.1
1.0

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

0.2
0.2
0.2
0.2
0.2
0.2
0.2

1972
Jan.
Feb.
Mar.
Apr.
May
June
July
/ Aug.,
Sept.

26
23
29
26
31
28
26
30
27

5.0
4.7
5.1
4.8
4.6
4.6
4.7
4.7
5.3

1.8
1.4
1.8
1.6
1.7
1.7
1.6
1.5
2.2

1.4
1.1
1.5
1.4
1.5
1.4
1.3
1.3
2.0

0.3
0.3
0.3
0.3
.0.3
0.2
0.2
0.2
0.2

4.9

1.6

1.4

1.0
1.0
1.0
0.9
0.9
0.9
0.7
0.7
0.7
0.6

0.2
0.2
0.1
0.1

25
29 p

1.2
1.2
1.1
0.9
0.9
1.0
0.9
0.8
0.8
0.8

Z/
0.2
0.2
0.1
0.1
0.2

0.4
0.4
0.3
0.3
0.3
0.3
0.3
0.3
0.4
0.4

0.3
0.3
0.3
0.3
0.4
0.4
0.4
0.4
0.4
0.4

5.2

1.9

1.7

0.7

0.6

0.1

0.4

0.4

Oct.
Nov.

1/
1/
7/
7/
7/

2/

2/

7/
7/
7/
7/
7/

0.2

1/
7/
7/

2/

2.1
2.1
2.2
2.2
2.0
2.0
2.3
2.4
2.4
2.5

0.2

7/

1J

2.6

7/
7/
7/
7/
7/
7/
7/

7/
7/
7/
7/
7/
7/
7/
7/
7/

-

iy
2/
3/
4J
5/
6/
2/

Includes an indeterminate amount of Federal funds purchases from U.S. Agencies of foreign banks
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.
Partly estimated.
Less than $50 million.




It

TABLE 5
Loans at All Commercial Banks
Seasonally Adjusted

Business

Date
1966—Dec.
1967—Dec.
1968—Dec.
1969—Dec.

78.6

31
31
31 %
31 f '

86.2
95.9
105.7

1970—Dec. 31

109.6

1971—June 30(old)
(new)
July 28
Aug. 25
Sept. 29
Oct. 27
Nov. 24
Dec. 31

112.1

1972—Jan. 26
Feb. 23
Mar. 29
Apr. 26
May 31
June 30

(old)
(new)

July 26
Aug. 30

Sept.27 p
Oct. 25 p
Nov. 29 p

1/
2/

3/

Real Estate

Consumer

( I n b i l l i o n s
of
38.2
53.8
40.5
58.4
46.2
64.9
50.8
70.3~ (old)
69.8 (new)
50.3-/
72.3

Security
d o l l a r s )
7.9
9.2

10.2
9.1
10.3

12.1
12.2

60.8

83.9
85.2
86.5

61.5

121.2
121.1

121.4
123.9
124.6
126.7
128.2

11.0
11.6

12.0

62.1

12.3

88.0

63.4

89.3

64.3

13.3
13.3

90.6
92.1
93.2
94.5
96.1

65.1
66.3
67.2
68.3
69.4

120.72 1

11.4

16.0

82 .6

62.6

10.0
10.6

15.9
15.2
15.6
15.8
15.3

116.4
117.3
118.4
119.9

115.5

8.7
9.5

9.5
10.3
10.4
10.3

56.7
57.5
58.8
59.6
60.3

11.3
12.4 2 /
13.1— (old)
13.6
(new)
14.3

8.8

76.7
77.6
78.6
79.5
80.5
81.4

58.1

12.0

12.0

9.5

116.2
116.6
116.0

Agriculture

15.9

56.3

113.2
115.2

Nonbank
financial

11.8

13
13
IS.**'

16.5
17.0
17.4
16.7
17.1

16.9 J/
17.2 5/
18.4
19.5
18.9

20.2

21.1

12.3
12.4

12.6
12.8
12.9
12.9
13.0
13.1
13.2
13.3

13.4

13.5
13.5
13.8
14.1

Data are comparable w^Lth 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 completed in February 1972 are also included in loans to
nonbank financial institutions.

4/ Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700
5/

million are included in other securities; previously, they had been included in real estate loans.
Beginning June 1972, business loans were reduced by $400 million, nonbank financial increased by
$300 million, and "other" loans increased by $100 million as the result of loan reclassification

6/

at one large bank.
Includes $800 million system matched sale-purchase transactions outstanding on September 27.

U

Includes $300 million system matched sale-purchase transactions outstanding on November 29.




Table 6
Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted
(In billions of dollars)
Item

May

June

July

Aug.

+2.4

+8.7

+1.4

+4.4

+7.9

+1.3

+0.3

+0.5

+0.1

-0.9

-0.9

+1.1

+1.8

1/

+2.2

-0.5

+0.6

+5.1

+2.8

+5.3

+2.1

+6.0

+1.8

-0.5

+0.9

+0.9

+1.1

+1.5

+1.3

+1.0

+0.9

+1.2

+1.3

+1.3

+1.3

+0.7

+0.8

+0.7

+0.5

+0.7

+0.6

Security

+0.1

-0.1

+0.7

+0.6

+0.4

Nonbank financial

+0.4

+0.2

-0.5

+1.2

Agriculture

+0.1

+0.2

+0.2

All other

+1.4

+0.2

Total loans excluding
security 3/

+3.9

Total loans excluding
security and nonbank financial 3/

+3.5

Oct.

Nov.

Dec .

Jan.

Feb.

March

April

Loans and Investments 2/

+4 .8

+2.6

+5.9

+5.7

+5.2

+8.4

U. S. Gov't, securities

-0.8

-0.3

+1.9

-1.0

+1.3

Other securities

4-1.6

+1.1

+2.3

+1.5

Loans _2/

+4.0

+1.7

+1.9

Business

+0.4

-0.6

Real estate

+0.9

Consumer

V
2/
3/
~~
4/
5/

Sept. p

Oct. p

Nov. p

+5.1

+9.0-/

+0.6

-2.1

+0.7

+1.1

+1.0

1/

+1.8

+4.7

+7.8

+3.8—'

+7.2

+6.4-/

-o.i-/

+0.7

+2.5

+0.7

+2.1

+1.5

+1.5

+1.3

+1.3

+1.5

+1 . 1

+1.3

+ 1.6

+0.5

+0.8

+0.9"

+0.8

+1.2

+0.9

+1.1

+1.1

+0.3

-0.5

+1.5

1/

+0.4

+1.5-'

-0.8

+0.8-/

+0.5

+0.4

-0.7

+0.4

-0.2-/

+1.2

+1.1

-0.6

+1.3

+0.9

+0.1

1/

+0.1

+0.1

+0.1

+0.1

+0.1

+0.1

1/

+0.3

+0.3

+0.4

+0.6

-0.8

+1.5

-0.1

+0.4

-0.1^

+0.7

+1.0

+0.2

r +1.9

+0.2

+1.8

+1.2

+4.5

+2.4

+5.0

+2.6

+4.5

+1.7

+4.8

+7 ,4

+2.3

+8.0

+5.2

+1.6

+1.7

+3.3

+ 1.9

+4 .6

+3.3

+4.1

+1,9

+3.6

+6.3

+2.9

+6.7

+4.3

1/

Less than $50 million.
Adjusted to exclude domestic interbank loans.
.
, ,
Beginning June 1972, business loans were reduced by $400 million, nonbank financial increased by $300 million, and
other
loans increase
y
$100 million as the result of loan reclassifications at one large bank. Changes have been adjusted to take account of this reclassification.
includes $800 million system matched sale-purchase transactions outstanding on September 27.
Consumer loans and "all other loans" revised beginning July, 1967. See Table 1.




Table 6A
Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted
Adjusted for Loans Sold to Affiliates
(In billions of dollars)
1972

1971
Item
Oct.

Nov.

Dec.

Jan.

Feb.

March

April

May

June

July

Aug.

Sept,p

Oct. p

Nov,, P

Loans and Investments 2/

+4.7

+2.5

+6.0

+5.8

+5.1

+8.3

+2.3

+8.5

+1.2

+4.4

+8.0

+5.3-/

+5.1

+9 .3^/

U. S. Gov't, securities

-0.8

-0.3

+1.9

-1.0

+1.3

+1.3

+0.3

+0.5

+0.1

-0.9

-0.9

+0.6

-2.1

+0 .7

Other securities

+1.6

+1.1

+2.3

+1.5

+1.1

+1.8

1/

+2 .2

-0.5

+0.6

+1.1

+1.0

1/

+1 .8

Loans 2f

+3.9

+1.6

+1.8

+5.3

+2.8

+5.1

+1.9

+5.9

+1.6

+4.7

+7.9

+3.7—'

+7.1

+6 .71/

+0.3

-0.6

-0.7

+1.0

+0.9

+1.2

+1.3

+1.1

+1.6

+0.7

+2.5

+0.6

+2.2

+1 .7

Business

*

Real estate
Consumer
Security
Nonbank financial
Agriculture
All other

NOT AVAI LABLE

Total loans excluding
security 3/
Total loans excluding
security and nonbank financial 3/




i

Table 7

Changes in Loans and Investments at All Commercial Banks, at Weekly
Reporting Banks, and at Other Banks, Not Seasonally Adjusted
Adjusted for Selected Loan Sales
to last Wednesdsiv of November

Last Wednesday of

October

1972P

1971

1970

1969

1968

1957

1966

+6 .6
+2.3
+0.6
+9.5

+2.1
+1.1
+0.1
+3.3

+0.4
+1.1
+1.6
+3.1

+2.3
+0.7
+0.5
+3.5

+2.9
-2.0
+0.7
+1.6

+1.3
+0.5
+0.8
+2.5

+0.9
+0.8
-0.8
+1.0

Total loans
U. S. Gov't, securities
Other securities
Total

+4.3
+1.9
+0.5
+6 .7

+0.1
+1.1
-0.2
+1.0

-1.1
+0.6
+1.4
+0.8

+1.1
+0.5
+0.4
+2.0

+1.9
-1.9
+0.3
+0.4

+0.8
-0.3
+0.1
0.6

+0.5
+0.7
-0.8
+0.5

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

+2.3
+0.4
+0.1
+2.8

+2.0
1/
+0.3
. +2 .3

+1.5
+0.5
+0.3
+2.2

+1.2
+0.1
+0.1
+1.4

+1.0
-0.1
+0.4
+1.2

+0.5
+0.8

+0.4
+0.1

±0*1

J J L

Item
All commercial banks 2/
Total loans
U. S. Gov't, securities
Other securities
Total
All Lar^e Banks

2_/ 3/

+1.9

+0.5

End of ler.emher to last Wednesday ir»f Nnvpmhiar
Item

1972P

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

1971-/

—

1970

1969

1968

1967

1966~/

+43.2
-1.7
+9.7
+51.2

+18.9
-0.7
+14.8
+33.0

+2.3
+3.6
+11.2
+17.1

+17.1
-9.5
-0.5
+7.2

+18.3
+0.3
+8.0
+26.6

+8.5
+6 .7
+11.0
+26.2

+11.4
-5.1
+2.0
+8.3

Total loans
U. S. Gov't, securities
Other securities
Total

+22.0
-1.8
+3.0
+23.2

+4.3
-1.4
+6.1
+9.0

-2.9
+2.3
+6.3
+5.7

+8.1
-5.5
-3.1
-0.6

+9.1
-0.6
+4.7
+13.3

+2.2
+3.2
+6.7
+12.2

+5.1
-3.7
-0.4
+1.0

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

+21.2
1/
+6.8
+28.0

+14.6
+0.7
+8.7
+23.9

+5.2
+1.3
+4.9
+11.4

+9.1
-3.9
+2.7
+7.8

+9.2
+0.9
+3.3
+13.3

+6.3
+3.5
+4.1
+14.0

+6.3
-1.4
+2.4
+7.3

All Large Banks

NOTE:

2/ 3/

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.

1J
2/
3/
4/

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.
Allowance has been made in monthly changes in total loans and in other securities
for approximately $700 million of Farmers Home Administration insured notes shifted
from loans to other securities on June 30, 1971; $200 million were at weekly
r e p o r t i n g b a n k o and

5/

$ 5 0 0 m i l l i o n at

other* b a n k s .

Allowance has been made in monthly changes in total loans and in other securities
for approximately $1 billion of participation certificates shifted from loans to
other securities at the end of June; $700 million were at weekly reporting and $300
million at nonweekly reporting. Allowance has been made in monthly changes in
total credit and in total loans for the $1.1 billion of balances accumulated for
 the payment of personal loans excluded from time deposits and from loans on June 9;
http://fraser.stlouisfed.org/
$400 million were at weekly reporting banks and $700 million at other banks.
Federal Reserve Bank of St. Louis

Table 8
Changes in Commercial and industrial Loans at Large Commercial Banks
(In millions of dollars)
Late December to late November 2/

Late October to late November
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 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
1/
2/
3/

1972p
+187
+165
+24
-64
+88
+320
+3
+326
+31
-40
-158
+35
-56
-59
-36
-76
+204
+37
-4
+171
+18
+98
+40
+129
-71
+169
+835
+326
4-1,161

1971

1970

1969

+141
+233
+50
+4
+46
-556
-83
-297
-25
-151
-50
-61
-209
-107
-61
-103
+123
+27
-16
+112
-17
+358
+217
+95
+46
+30
-239
+111
-128

+192
+110
-124
+8
-132
-306
-23
-238
+119
-164
-263
-44
+22
-74
-68
-161
+73
+138
+84
-149
+85
+444
+319
+91
+34
+87
-27
+191
+164

+187
+143
+81
+164
-83
-148
-72
-10
+36 •
-102
-194
-22
+55
-91
-22
-88
-103
-16
— —

-87
-106
-85
-27
+158
-216
-8
-401
+92
-309

1968
+138
+216
+184
+8
+176
-66
-45
+18
+2
-41
-54
-26
-38
-61
+2
-79
+394
+101
+75
+218
+74
+480
+31
+193
+256
445
+1,209
+139
1-1,348

1972p
+292
-65
+1.362
+1,229
+133
-580
+21
-87
-529
+15
+494
-255
-465
+339
-119
-175
+784
-221
+412
+593
+758
-167
-944

+1,014
-237
+526
+2,729
+2,095
+4,824

1971
-258
+137
+1.074
+505
+569
-1.622
-112
-1,022
-261
-227
+111
-385
-442
+53
-177
-242
+29
-340
+34
+329
+321
+6
+122
+189
-205
+92
-2,126
+461
-1,665

1969

1970
-517
+27
+414
+300
+114
-190
+9
-445
+246
-5
+163
-234
-158
+116
-77
-832
-1,184
+264
-231
-1,217
+269
+1,342
+983
+378
-19
+171
-715
+830
+115

-57
-245
+493
+157
+336
+1.506
+57
+905
+428
+116
+309
+29
+227
+ 197
+224
+ 47
+634
+258
+102
+274
203
1,311
. -300
+797
+814
-341
>4,537
+260
+4,797

Five most comparable weeks used throughout.
Changes are compiled from December 29, 1971; December 30
December 27, 1967. These data cannot be linked with all
and foreign loans were not reported separately.
prior to 1967, transportation, communication, services,




1968
-48
-267
+823
+534
+289
+991
+644
+129
+79
+139
+498
+1
-85
+168
+44
+264
+991
+606
+89
+296
+451
+1,198
-446
+890
+754
-151
+4,878
+482
f5,360

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

Leans and
Investments
--Dec.
--Dec.
--Dec.
--Dec.
--Dec.
--Dec.

31
31
31
30
31
31 3/

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

Other
U.S. Gov't. Securities Total Loans

Business

19; 2
19.0
19.0
19*0
19.4
20.0
19.6
18.8
19\4
18.9
19.6
21.2

72.7
73.0
73.6
74.3
75.2
76.5
75.8^/
76.8
77.8
79.0
80.0
80.9
81.6

10.1
9.9
10.0
9.1
8.5
9.7

11.0
11.2
11.5
11.7
12 .0
12.2

53.6
53.6
54.0
54.9
55.7
56.6

14.5
14.3
15.2
15 .2
15.4
17.0

19.9
19.8
19.1
19.9
20.8
21.5

8.6
9.3
10.0
10.1
10.1
12.9

12 .4
12.5
12.5
12.4
12.4
12.5

57.2
58.0
58.6
59.1
59.7
60.5

15.9
15.5
15.5
15 J
15.4
16.9

21.3
22.0
21.9
22.6
23.2
25.3

82.5
83.5
84.7
86.1
87.6
89.2

11.4
11.3
12.0
11.9
13.2
13.6

12.6
12.7
12.8
13.1
13.4
13.6

60.4
60.7
61.3
62.2
63.3
64.7

24.5
23.8
24.5
26.4
27.0
27.2

90,7
92.3
93.7
95.1
96.6

13.3
13.5 ,
14.7 —
14.1
14.8

13,7
13.8
13.7
13.8
13.9

65.6
66.9
67.7
r68.6
69.5

16.0
16.2
16.8
16.9
16.9
is.ig/
18.418.3
18.8
19.3
20.0
20.7

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
104.0
1(84 .9
105.5
105.2
108.4
107.3
107.1
109.4
108.4
108.8
112.5

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

290.9
292.1 6/
294.6
296.7
300.0
307.8
307.1
305.6
309.3
313.4
315.1
317.3
328.3

109.1
110.3
111.2
111.6
112 .4
114.4

62.7
61.9
62.5
61.9
61.2
60.3

104.8
106.2
106.5
109.7
110.9
111.5

322.7
324.3
330.5
335.1
341.6
349.8

522.0
526 .5
534.62/
540.2
549.4

59.6
59.3
60.3
60.9
63.2

11/. 5
112.6
113.7
113.8
114.4

350.9
354.5 ,
360.62/

115.2
116.1
118.4
120.1
120.8
123.6
123.2
122.3
122.2
124.2

365.5
371.8

125.8
127.6

July 26
Aug. 30
Sept . 27 p
Oct. 25 p
Nov. 29 p

12.7
12 .4
12.2
12.7
12.3
14.4
14.9
14.4
15.1
14.3
14.3
15.9

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

490.1
492.4
56l.5
506.6
513.7
521.6

(old)
(new)

50.9
50.7
50.7
51.1
51.5
52.1 5 /
52. (r53.0
53.3
53.3
53.2
53.6

53.0
51.4
51.5
52.3
52.6
51.6
53.5
55.1
55.8
57.2
58.3
61.7

26
23
29
26
31
30

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

10.4
10.5
10.6
10.8
11.1
11.2
11.3
11.4
11.4
11.3
11.2
11.2

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

59.3
58.7
58.7
60.0
61.0
64.9

113.4
114.2
115.9
115*6
115.6
118.5

All i a /
Other 10/

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

43.7
49.3
54.0
58.5
65.1
70.0 4/

463.0
466.1
472.0
476..5
479.9
497.9

Consumer

15.7
16.8
15.3
16.9
19.3
20.6

60.2
71.4
80.6
88.4
98.4
108.4

87.1
88.9
91.5
94.2
94.9
96.7
97 .4%/
98.2
98.1
99.9
101.5
101.6
104.7

Farm

10.9
13.3
13.3
12.5
13.7
15.1

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

61.5
61.4
61.6
60.0
58.8
60.3

Security

Nonbank
Financial
Institutions

31.0
35.7
38.3
40.6
46.3
51.0

63.0
59.5
56.2
62.5
64.5
54.7

439.5
442.4 6/
447.7
450.9
453.6
464.8

1

7.5 8.2
8.6 2/
9.3
9.7
10.3

279.2
307.6
324.0 1/
360.8
400.4
412.1

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

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

Real
Estate

8.4
8.5
9.0
" 10.5
11.8
10.7

.

27.0
27.0
27.3
r 29,1
28.7

p - Preliminary.
Data exclude domestic interbank loans. Consumer and "other loans" were partly estimated for all dates. Other data are partly estimated on all tot June
and December call dates.
Beginning June 9, 1966, $1.1 billion of balances accumulated for the payment of personal loans were deducted from time deposits and "all Othdr"
loans.
Beginning June 30, 1966, about $1 billion of participation certificates previously included in agricultural and "all Other" loans were reclassified
as "other securities."
Data revised beginning June, 1969, to include all bank premises subsidiaries and other significant majority-owned domestic subsidiaries; earlier
data are for commercial banks only.

NOTE:
1/
2/
3/
""
4/
"
y

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 $400 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 completed in February 1972 are also included in loans to nonbank

financial institutions.
Includes $800 million System matched sale-purchase transactions outstanding on February 24.
Beginning June 30, 1971, Farmers Home Administration insured notes totaling pproximately $700 million are included in other securities;
V
previously they had been included in reel estate loans.
Beginning June 1972, business loans were reduced by $400 million, nonbank financial increased by $300 million, and "other" loans Increased
8/
by $100 million as the result of loan reclassifications at one large bank.
If Includes $800 million system matched sale-purchase transactions outstanding on September 27.
10/ Includes $300 million system matched sale-purchase transactions outstanding on November 29.




TABLE 10
R a t i o s to T o t a l D e p o s i t s

1/

L O A N S
M e m b e r
B a n k s
Reserve City Banks
All
New York City of
commercial
Chicago Other Country
City
banks
i Total

D A T E

1959—Dec.
1960—Dec.
1961--Dec.
1962—Dec.
1963—Dec.
1964—Dec .
1965—Dec.
1966—Dec.
1967—Dec.
1968—Dec.
1969—Dec.
1970—Dec.

54.0
31
55.1
31
54.5
31
56.5
28
58.6
25
60.5
31
63.7
31
65.8
31
63.8
30
31*, , 64.7
72.0
31*—
67.3
31*

1 9 7 2 — J a n . 26*
Feb. 23*
Mar. 29*
Apr. 26*
May 31*
June 30 *
July 26*
Aug. 30*
Sept.27* p
Oct. 25* p
Nov. 29* p

66.5
66.5
66.7
>7.0
57.3
58.1
68.4
68,7
68.8
68.8
69.1

(66.3)
(66.3)
(66.4)
(66.8)
(67.1)
(67.9)
(68.2)
(68.6)
(68.5)
(68.7)
(68.9)

58.2
60.8
58.0
61.4
62.1
64.4
70.2
77.0
70.8
75.1
89.5
80.6

58.2
59.0
57.7
60.1
63.J
65.0
68.7
70.2
68.1
69.1
79.5
73.3

48.2
50.3
50.2
51.7
53.8
56.0
57.9
59.2
58.2
58.2
62 .8
60.2

69.5
69.6
68.2
68.5
68.8
68.4
68.8
68.9
69.5
69.1
69.3
70.0
68.0

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)
84.1 (83.2 )

80.9
81.3
81.4
76.9
77.5
78.7
79.3
80.5
79.4
80.1
80.7
82.9
78.1

72.5
72.3
70.5
71.5
71.8
71.4
72.2
72.2
72 .4
72.2
72.7
73.5
71.6

60.6
60.6
59.8
60.2
60.4
59.9
60.3
60.1
60.5
60.2
60.4
60.4
59.2

5.5
4.9
4.7
4.3
4.1
3.9
3.8
3.4
3.6
3 .5
3.1

68.7
68.8
69.0
69.2
69.5
70.5
70.5
71.0
71.2

79.9
85.6(84.0)
85.5(84.4)
81.7
85.1(83.4)
82.5
84.1(82.7)
81.9
84.7(83.2)
83.7
84.9(83.6) . 84.7
85.6
84.7(83.2)
85.6(84.3)
85.5
83.6
84.3(82.2)

71.9 60.0
72.3 60.3
72.8 60.3
73.4 60.2
73.2 60.5
75.0 61.0
75.0 61.1
75.8 61.3
76.8 61.4

3 .6
3.9
4.0
3.6
3.7
3.5
3 •3
3 #4
3.3

71.4
71.5

85.6(84.3)
86.1(84.6)

61.2
61.6

3.2
n.a.

85.7
85.8

76.9
75.5

®

All Commercial
Banks

67.3
65.9
65.0
67.9
67.4
69.3
75.9
83.5
79.9
83.5(76.3)
102.8(86.4)
87.5(79.6)

55.6
56.5
•
55.7
57.7
59.9
61.9
65.4
67.9
65.8
(63.7) 66.8
(69.8) 75.7
(66.2) 69.9

67.2 (66.2)
1 9 7 1 — J a n . 27*
67.3 (66.4)
Feb. 24*
66.1 (65.6)
Mar. 31*
66.4 (66.1)
Apr. 28*
66.7 (66.5)
May 26*
66.1 (65.9)
June 30*
66.8 (66.5)
July 28*
66.8 (66.6)
Aug. 25*
67.2 (66.8)
Sept.29*
66.8 (66.4)
Oct. 27*
Nov. 24* - , 67.1 (66.6 )
(new) Nov. 24* — 67.6 (67.1)
Dec. 31*
65.7 (65.6)

U.S. Government
securities maturing
within one year

7

4

*
8.7
11.2
9.5
7.5
8.0
7.3
6.1
6 .4
6.1
5.0
5.7

1

••

#

•

#
W

3,1

*

3.9

•

;

* - Ratios in parenthesis are those obtained by adding Euro-dollars to the deposit base.
1/ 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).
2/ 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.

3/ Loan data revised to exclude only loans to domestic commercial banks. Previous
http://fraser.stlouisfed.org/
also excluded loans to foreign commercial banks.
Federal Reserve data
Bank of had
St. Louis

#

^

w

#

*
T A B l f 11
®
Money Stock Measures and Deposit Turnover
(Seasonally adjusted; dollar amounts in billions)

M,
Currency
plus
demand
deposits-

*2

M^ plus
«2 p l u s
deposits
__
time dep.
Components of money stock measures and related items
Turnover
at comm•
at nonTime and
NonU.S. Gov't.
outside
other thangy bank thrift ^ ,
Demand
savings deposits bank thrift
deposits
N.Y. City
large CD's- institutions- Currency Deposits CD's Other Total institutions
(all member) (per cent)

1968--December
1969--December
1970--December

197.4
203.7
214.8

378.0
386 .8
418.2

572.6
588.3
634.0

43.4
46.0
49.0

154.0
157.7
165.8

23.6
11.0
25.5

180.6
183.2
203.4

204.2
194.1
228.9

194.6
201.5
215.8

4.2
4.9
6.5

45.3
50.0
52.9

1971--July
August
September
October
November
December

227.4
228.0
227.6
227 .7
227.7
228.2

453.4
454.5
455.6
458.3
460.8
464.7

693.8
697.6
701.2
706.5
711.6
718.1

51.6
51.7
51.9
52.2
52.2
52.5

175.8
176.3
175.7
175.5
175.5
175.7

30.4
30.8
31.6
32.7
32.2
33.4

225.9
226.5
228.0
230.6
233.1
236.4

256.4
257.3
259.6
263.3
265 .3
269.9

240.2
243.1
245.6
248.3
250.8
253.4

5.1
5.8
6.6
4.7
5.4
6.2

55.0
55.9
55.6
54.3
58.1
57.3

1972--January
February
March
April
May
June

228.8
231.2
233.5
235.0
235.5
236.6

469.9
475.5
480.1
483.0
486.1
490.4

727 .3
737 .4
745.9
752 .7
758.8
766 .1

52.8
53.2
53.7
54.0
54.4
54.7

176.0
178.0
179.9
180.9
181.1
181.9

33.2
33.8
33.4
34.7
36.3
37.1

241.2
244.3
246.5
248.1
250.7
253.8

274.4
278.1
279.9
282.8
287.0
290.9

257.4
261.8
265.8
269.7
272.6
275.7

6.3
3.7
6.1
7.4
7.4
5.3

56.3
56.2
57.2
58.9
58.7
58.6

239.4
240.5
241.6
242.3
243.6

495.0
498.3
501.8
505.0
508.2

774.7
781.6
788.4
795.2
801.2

54.9
55.0
55.5
55.9
56.3

184.5
185.5
186.1
186.5
187.3

38.1
39.3
40.3
40.7
41.3

255.6
257.7
260.2
262.7
264.6

293.7
297.1
300.5
303.4
305.9

279.7
283.3
286.6
290.1
293.0

5.3
4.6
5.3
6.1
7.8

57.1
60.2
60.1
n.a.
n .a.

55.8
56.2
56.3
56.4
56.4

186.2
186.5
188.0
187.8
186.4

263.4
263.3
264.3
265.1
265.5

303.9
304.4
305.1
306.7
308.4

n .a.
n .a .
n .a .
n .a .
" .a .

7.2
8.0
5.5
7.0
7.8

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

July
August
September
October r
November p

Week ending:
1972-'-November 1

8
15
22
29 p

242.1
242.7
244.3
244.3
242.8

505.4
506.0
508.5
509.4
508.3

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

40.6
41.1
40.8
41.6
41.8

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 commer
cial banks.
http://fraser.stlouisfed.org/
3/ Includes Mg, plus the average of the beginning and end of month deposits of mutual savings banks and savings and loan shares.

Federal Reserve Bank of St. Louis

TABLE 12

Period

Total

Consumertype time
& savings

Time and Savings Deposits
State Pol:
Large
ConsumerNegotiable
Foreign 0:
type
Savings
CD's 1/
etc.
time

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
10,919
10,919

8,103
8,131
8,793,
8,803
9,636
9,646
8,054

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.
Ma r.
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.
Mar.
Apr,

26
23
29
26

142,835
144,123
144,863

96,365
97,617
99,402

40,642
41,192
41,786
41,462

33,852
34,011
33,457

12,618
12,495
12,004

JMay
J une

31
28

55,723
56,425
57,616
57,279
57,622

July 26
Aug. 30
Sept, 27
Oct. 25
Week Ending:
1972--Nov. 1

8
15
22
29

1/

146,743
149,089

98,741
99,764

34,234
35,580

13,699
13,745

42,784
42,969

35,903
37,705

13 ,128
12,745

43,795
44,526

41,219

12,472

42,142

149,657

100,626

57,842

151,357
155,510
156,287
157,388

100,907
101,618
102,596

57,938
57,823
58,070

102,758

58,160

44,598

42,277

12,353^

156,708
157,884
157,596
158,607
158,860

102,721
102,798
102,690
102,746
10?,7R9

58,113
58,217
58,178
58,232
58,183

44,608
44,581
44,512
44,514
44,606

41,793
42,919
42,884
43,700
43,926

12,194
12,167
12,022
12,16112,145'

41,213

Negotiable certificates of deposit issued in denominations of $100,000 or more.




12,679:

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

Excess
Reserves

Free reserves
(excess reserves minus borrowings)
D A T E
All
member

Reserve City Banks
City of
New York
Chicago
City

Other

Country

Monthly Averages:
1959 -December
1960- -December
1961 -December
1962 -December
1963- -December
1964- -December
1965- -December
1966- December
1967- December
1968- -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

1971--Jan.
Feb.
M&r.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

-91
-127
-120
-18
-322
-658
-606
-295
-153
144
58

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

1972--Jan.
Feb.
Mar.

153
91
134
27
-15
110
-55
-183
-369
-327
-188

8
-5
-14
-50
-36
28
17
-110
r 113
2
-78

Apr.
May
June
July
Aug.
Sept.
Oct. r
Nov. p

-8

are included beginning October 1, 1970.




-104
-4
-22
-11
21
-31
-8

-50
-5
-70
-9
3

-6

19
-25
3
2
-39
-29
-10
2
-14
-7
-9
-5

-n

1
-3
-1
2
-1
-15
-23
-18

All
member

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

Borrowings
All
member

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

Total reserves
held seasonally
adjusted
All
member

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

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

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

-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

13
130
17
-6
-55
-33
-105
-62
-189
-216
-241

141
9
144
82
79
116
31

173
124
213
136
104
204
147

202

33,059
33,138

-10
-52
-90
-301

255
146
247
418

438
515
-574
606

33,382
33,360
33,788
31,843

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

20

31,772
31,616
32,032
32,643
32,830

33
99
109
119
94

TABLE 14-A
Liquid Asset Holdings of Private Domestic Nonfinancial Investors*
(Seasonally adjusted monthly averages; amounts in billions of dollars, ratios in per cent)
Currency and deposits
Time Deposits
Period

Total
liquid
assets
1

Total

2

Currency

Demand
deposits

Commercial
banks

3

4

5

I 1
Total

Thrift
institutions

/

6

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

Savings
bonds
11

110.3 j
118.6 i
121.5 \
135.0
143.5
147.1
140.7

15.5
15.0
19.5
22.7
9.1
23.2
30.2

7.1
10.2
11.5
14.2
20.8
19.5
17.7

38.2
43 .3
39.5
46.8
62.5
53.0
39.2

49.5
50.1
51.0
51.4
51.1
51.3

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
469.6
516.0
559.6
576.2
623.6
709.8

36.3
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

125.2
136.8
156.2
174.2
177.0
198.8
232.2

170.4
177.3
194.2
206.8
215.2
231.1
271.7

1971—March
June
Sept.
Dec.

792.8
816.8
831.6
850.5

653.6
678.6
692.6
709.8

50.0
51.1
51.9
52.5

147.8
152.8
153.5
153.4

213.0
220.7
224.0
232,2

242.9
254.1
263.1
271.7

139.2
138.2
138.9
140.7

26.2
26.7
28.1
30.2

17.2
16.4
16.1
17.7

43.9
42.7
41.7
39.2

51.8
52.5
53.1

1972--March
June
Sept.

876.6
903.0
931.3

738.3
758.0 =
780.3

53.7
54.7
55.5

157 .4
158.5
162.5

242.3
.249.2
255.4

284.9
295.6
306.9

138.4
145.0
151.1

30.2
34.0
37.2

17.7
18.1
19.5

36.0
37.6
38.2

1 54.5
55.4
56.1

1971--July
Aug.
Sept.
Oct.
Nov.
Dec.

823.3
827.6
831.6
838.3
842.8
850.2

684.8
688.7
692 .6
698.1
703.0
709.8

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
222 .4
224.0
226.5
228.9
232 .2

858.2
867.8
876.6
886.0
894.2
904,0

719.7
729.6
738.3
745.2
751.0
758.0

52.8
53.2
53.7
54.0
54.4
54.7

153.8
155.6
157.4
158.4
158.2
158.5

237.2
240.2
242.3
243.7

913.9
921.5
929.7
937.3
944.0

766.6
773.4
780.4
787.5
793.0

54.9
55.0
55.5
55.9
56.3

160.8
161.7
162.2
162.7
163.0

1972--Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept. r
Oct.
Nov. p

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

275.8

138.6
138.3
138.4

29.9
30.5
30.2
31.6
33.2
34.0

18.1
17.7
17.7

36.6
35.9
36.0

53.9
54.2

i & i

140.8
143.2
146.0

251.0
253 .0
255.4
257.8
259.6

299.8
3U3.6
307.3
311.1
314.2

147.3
148.2
149.3
149.8
151.0
i




53.7

257 .5
260.5
263.1
266 .1
268.9
271.7
280.5
284.9
289.1
292.2
295.6

* - For description of items, and computation of ratios see Table 14-C.

53.7

35.0
36.3
37.1
37.3

17 .9
18.1
18.5
18.4
18.5
18.6 -

37.7

18.6

54.5
54.8
55.1
55.3

%-s
38.5
,38.2
37.7
37.5
- 37.5

55.6
55.9

38.0

56.7

56.1

56.4

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

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

24 .9
25 .0
24 .7
24 .2
24..1
23 .6
. 23.4 ,

48 .8
49 .0
48 .8
48 .9
49. 0
48.,9
48 .9

30 .6
31 .1
31 .6
31 .9
32,.5
32,.7
33..0

76.8
77.7
78.6
78.6
78.2
78.6
79.3

19.2
19.4
19.5
19.2
18.8
18.7
18.6

-April
May
June

24 .9
25 .0
25 .0

48 .8
48 .9
49 .0

30 .9
31 .0
31 .1

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

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

July
Aug.
Sept.
Oct.
Nov.
Dec.

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
24 .0
23 .8

49 .1
49..1
49,.0
49..0
48..9

32 .1
32 .3
32 .5
32 .6

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

32 .7

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

23 .6
, 23•6
23. 5
23..4
23,.3
23,.2

48,.9
48,.9
48. 9
48. 9
48.,8
48.,8

32 .7
32,.8
33 .0
33.,0
33,.2
33,.3

n .a.
n.a .

n.a.
n.a.

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

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

,

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

-March •
June
Sept.
Dec.
-March ;•
June
Sept.

-Jan.
Feb.
March
April
Ma
y
June
July
Aue.
Sept.
Oct. p
Nov. p




.

.

27.2
26 .4
26.0
25.7
25.6
25.1
24 .2 = .

n»a.




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 Mg held by domestic nonfinaneial
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.
c

-

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.
>