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I FEDERAL RESERVE BANK of KANSAS CITY . DEC 2 6 L.4.3 w 1961 Research. Library — BANKING AND MONETABY DEVELOPMENTS IN NOVEMBER 1961 Total commercial bank credit increased moderately further in November. Loans and holdings of State, local, and other securities rose while holdings of B. S. Government securities declined. The seasonally adjusted daily average money supply declined somewhat between the second half of October and the second half of November, following sharp expansion in the previous two months; on a monthly average basis, however, it continued to rise. Seasonally adjusted time deposits showed further substantial growth. Total reserves and required reserves of member banks increased in November but less than in October. Free reserves rose. Bank credit. Total credit at all commercial banks rose $800 million further in November, somewhat more than the October rise. Total loans rose $1 billion, more than twice as much as in November last year. Holdings of State, local, and other securities also increased, as redemptions of maturing New York City tax anticipation notes, usual in November, were more than offset by purchases of securities at other times in the month. Holdings of U. S. Government securities, however, declined on balance, Allotments of $360 million of new bills in the auction of an $800 million strip issue on November 15 were more than offset by prior and subsequent reductions. Most of the credit growth in November occurred at banks outside leading cities. So far in 1961, total commercial bank credit has increased $10.7 billion, more than twice as much as in the corresponding period last year and more than in any other recent year except for the record $13.4 billion expansion of 1958. Loan growth of about $3 billion this year has been twice that in the comparable months of 1958 and 1954, which also were years of combined recession and expansion, but far short of the $10 billion increases in the expansion years of 1959 and 1955° Holdings of State, local, and other securities have increased slightly more so far in 1961 than in any other year. The $5 billion increase in holdings of U. S. Government securities so far this year, while smaller than in the comparable periods of 1958 and 1954, contrasts with declines in most other recent years. Total credit growth has been large so far this year both at weekly reporting banks in leading cities and at other banks. All this year's loan growth has been at banks outside leading cities; at city banks loans have declined slightly but less than in 1958 and 1954. Business loans at all commercial banks increased $400 million in November, somewhat less than in November of most other recent years. So far in 1961, the $400 million growth in these loans compares with declines in the corresponding periods of 1958 and 1954, but with $1-5 billion increases in other recent years. Not for publication # » 0 # # # 2 - In November, loans to food processors continued to increase about seasonally, and those to commodity dealers also rose about seasonally after expanding somewhat less than usual in other recent months. Loans to trade concerns showed a further seasonal rise and then turned down late in the month, as is usual when holiday buying picks up. Loans to textile concerns continued to decline seasonally and those to metals manufacturers dropped slightly further. Security loans declined slightly in November. Loans to U. S. Government security dealers rose to an unusually high level at midmonth associated with Treasury financing operations but subsequently declined sharply. Loans to brokers and dealers for purchasing and carrying securities other than those of U. S. Government rose somewhat further in November. So far this year security loans have shown little change where usually they decline on balance. Loans to nonbank financial businesses increased $200 million in November, mainly in loans to financial institutions other than sales finance companies. Part of the recent rise in loans to these institutions, however, reflects loan reclassification at weekly reporting banks, presumably out of business loans. So far this year, loans to all nonbank financial institutions have declined $800 million, about the same as in the corresponding 1960 period. Real estate loans continued to expand in November. So far this year the $1.6 billion growth has been comparable with increases in the corresponding periods of 1958 and 1954 but well below the record 1955 and 1959 expansions. Consumer loans at all commercial banks were unchanged in November. So far this year, they have increased $300 million (exclusive of the Sears' borrowing). In the January-November 1958 and 1954 periods, consumer loans had declined slightly; in 1959 they had shown a record increase of almost $3 billion. e # 0 # Deposit ratios. The ratio of total loans to total deposits at all commercial banks increased slightly to 54.7 per cent in November, following declines in the two preceding months. The ratio of U. S. Government securities maturing within one year to total deposits declined slightly to 11.4 per cent in October, but still remains close to the recent peak of 12.2 per cent in July. (Data for November not yet available.) Money supply. The daily average money supply, seasonally adjusted, declined $500 million between the second half of October and second half of November following growth of $2.4 billion in the preceding two months. For the entire month of November, however, the money supply averaged $400 million higher than in October. In late November, the money supply was about the same as the mid-1959 peak and over 2-1/2 per cent above the corresponding level a year ago. The end-of-month money supply series, which had also been increasing sharply earlier in the fall, declined $400 million in November. Time deposits at sill commercial banks declined less than usual in November and on a seasonally adjusted basis showed a $1.1 billion increase, somewhat more than in most other recent months. The usual pre-Thanksgiving withdrawals of Christmas savings were offset in large part by continued growth in other time deposits, both at city banks and at those outside. Not for publication # for FRASER Digitized # The seasonally adjusted annual rate of demand deposit turnover at banks outside New York and other financial centers increased from 26,9 in October to 27.1 (preliminary) in November, Since midyear, turnover has averaged about 2-1/2 per cent above the corresponding period of 1960, Bank reserves» Total reserves and required reserves of member banks increased further in November but less than in October, Free reserves averaged $510 million compared with $440 million in October, with excess reserves somewhat higher and borrowings somewhat lower than in October, Reserve positions at central reserve and reserve city banks were about the same in November as in October but at country banks they were easier. The effective rate on Federal funds was frequently at 3 per cent in November-—around the Election Day holiday, during the mid-month financing, and prior to the Thanksgiving holiday. Late in the month the rate declined and remained low during early December—often at 2 per cent or below. During November, on a daily average basis, reserves were absorbed principally through a continued larger-than-usual currency drain of about $400 million and a $150 million reduction in gold stock, reflecting mainly a large sale of gold by the Treasury to the United Kingdom in the latter part of the month. Reserves were supplied through a $570 million increase in System holdings of U, So Government securities, largely outright purchases. Not for publication Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. December 20, 1961,, # - 4 L.U.3 Table 1 Estimated Changes in Loans and Investments at All Commercial Banks (In billions of dollars) Item Total loans (less interbank) Business (excluding nonbankfinancial or sales finance companies) 2/ Nonbank financial Sales finance companies (Business (including nonbank financial or sales finance companies)) Real estate Security Agricultural Consumer All other 2/ Last Ttiednesday of Oct T35T 19661 mr +1.0 +0.1* +0.2 y -0.1 +0.5 +0.6 +0.2 +0.L +0.1 -0.1 y -0.2 . +0.1 V I V +0.6 +Sa i, (+0.8) (+0.10 (-0.1) (+0.6) +0.2 +0.3 +0.1 +0.1 +0.3 -0.1 -0.1 +0.1 1/ +0.1 -0.lt +0.7 +0.1 H/ -1.1 +1.5 +0.2 -0.2 -0.1 -0.3 -0.2 +0.8 +0.1 -0.6 +2.6 Other securities Total loans (less interbank) Business (excluding nonbank financial or sales finance companies) 2/ Nonbank financial "* Sales finance companies (Business (including nonbank financial or sales finance companies)) Real estate Security Agricultural Consumer All other 2/ +1.3 -0.1 -0.it Item +0.8 (-KJ.il) U. S. Government securities Total (less bank) +0.1t (+0.6) +0.2 to last Wednesday of Nov. T757 m i 1/ *0*6 +1.3 Aiaa u weuiiesua>r OJ. VCT>«> uO JLeLS >l weanesciay oi hc ' 1955 1951 1952 1953 1951 1950 +1.8 +1.9 +0.9 3/ +0.3 +0.3 3/ +0.1 (+1.2) +0.2 +0.1 +0.3 +0.1 1/ (+o.lt) +0.2 U. S. Government securities -1.5 -0.1 +l.il +1.2* +0.7 Other securities -0.2 +0.1 +0.1 1/ +0.1 +1^2 +5a +0.1t £ +1.2 +o.5 +l.lt +o.5 n.a. Hi 2/ n.ao n# a* 3/ a# (-0.1) (+0.6) (+0.3) +0.1 +0.1 +0.1 +0.2 +0.2 . +0.1 +0.2 -0.1 Mi +0.1 +0.2 (+i.D +0.1 +0.3 1 , *~0o8 y +0,1 +1.8 +1.7 +2.5 +l.lt +0.7 Total (less bank) 1/ Less than $50 million, n.a.—Not available. 2/ Data are on revised basis beginning June 1959 and exclude loans to nonbank financial institutions. For previous years, loans to sales finance companies at weekly reporting banks have been shown separately to provide roughly comparable changes in business loans on revised basis. 3/ Included in business and "'all other." hj Included with nonbank financial. 5/ Includes about $50 million Sears repayment. •5 Table 1 L.U.3 Estimated Changes in Loans and Investments at All Commercial Banks (In billions of dollars) Item End of June to of November oy last Wednesday vyjaVillQW\J-J"VVCU1U15JL is*a | i960 }/\19591/k\'l9W 3/)l957 1/1 1 9 ^ Total loans (less inteitank) +2.6 Business (excluding nonbankfinancial or sales finance companies) 2/ «0.7 Nonbank financial +0.3 Sales finance companies 7/ (Business (including nonbank finan(+1.0) cial or sales finance companies)) Real estate +1.0 Security +0.3 Agricultural 1/ Consumer 8/5.2 All other 2/ ~+0.5 U. S. Government securities Other securities Total (less bank) Item +0.8 +1+.5 +0.8 -0.5 +2.0 +0.1+ +1.6 +0.6 =0.2 +2.1 7/ 1/ =0.2 M? (=0.6) (+1.9) (+0.1+) (=0.9) =0.1 u . +1.3 =1.7 +0.3 =0.3 +0.6 'J/ +0.7 +0.1 =1.0 +0.3 +0.2 +0.3 +0.3 +0.3 +0.3 +1.0 +1.1 6/ +0.1+ 1/ +0.3 6/ =0.1+ (+1.7) +0.7 -0.1+ -0.2 +0.3 I/ +1+.1+ +6.0 -2.lt +3.5 +1.1+ +1.6 +1.3 +0.1+ -0.3 +7.2 +1.9 +0.6 +1.6 -0,2 +8.3 +0.2 +1.5 +3.1+ End of June to last Wednesday of November 1955 I 1951 "19^2" 1951 I 1955" 2HE Total loans (less Interbank) +5«1+ +1.7 Business (excluding nonbank financial or sales finance companies) 2/ S/+3.Z •K3.7 Nonbank financial ~ 6/ 6/ Sales finance companies +0.2 4^.2 (Business (including nonbank financial or sales finance companies)) 5/(+3.1t (+0.5) Real estate E>/*0.9 +1.0 Security " 1/ +0.1 Agricultural -8.1 Consumer +0.9 All other 2/ +0.3 +0.3 +1.8 +3.9 +0.7 +2.1 M.3 6/ *5.1' (+0.1+) (+2.2) +0.5 +0.2 +0.8 +0.2 +O06 —0.3 +0.5 1/ +0.8 +0.2 U. S. Government securities =1.9 +6*6 +5.1 +2.9 Other securities -0.2 +0.7 +0.3 +0.2 +1.9 6/ n.a. (+1.7) +0.1+ =0.1+ +0.3 +6.1+ n.a. 6/ n.a. (+1+.2) +1.0 +0.8 1/ +0.2 +0.5 +3.1 -l+.l +0.3 +0.9 +3.1+ +8.9 Total (less bank) +7.1 +7.0 +5.3 +3.3 Less than $50 million, n.a.—Not available. V Data are on revised basis eginning June 1959 and exclude loans to nonbank financial institutions. For previous years, loans to sales finance companies at weekly reporting banks have been shown separately, to provide roughly comparable changes in business loans on revised basis. 3/ Data are for last Wednesday of June, kf Total credit increased about #300 million as a result of bank structure changes$ loans increased about $200 million and U. S. Govt, securities about $100 million. 5/ In Oct. 1955$ the level of business loans was increased by, and that of real estate loans decreased by $300 million to correct classification errors. 6/ Included in business and "all other." 7/ Included with Digitized nonbank for FRASER financial. 8/ Includes about $300 million Sears repayment^ L.U.3 Table 1 Estimated Changes in Loans and Investments at All Coramrcial Banks (Ih billions of dollars) Item Total loans (less interbank) Business Iexcluding nonbankfinancial or sales finance companies) 2/ Nonbank financial Sales finance companies (Business (including nonbank financial or sales finance companies)) Real estate Security Agricultural Consumer All other 2/ U. S. Government securities Other securities Total (less bank) Item End of December ^o ^^st Wednesday of November "1951 "T^O mnz T O T •mr +2.9 +3 ok +0.& +2.1 =1.0 =0.8 8/ M U ) +1.6 +0.1 +0.3 • +0.5 +0.9 *5e2 +2.5 +10.7 (+1.1) +0o6 -0.9 +0.7 +1.3 +0.7 +9.8 +1.5 +1.9 +6.2 +3.5 V+0.3 I/+0.3 -0.2 +1.2 1 0 7/ -0*3 +5.3 1/ -0.7 (+iicl) +2.6 =0.6 "0.1 +2.7 +1.2 (**Xo2) +1.9 -0.3 +0.8 -0.1 +0.7 (+0.9) +0.5 •=0.7 (+it.6) +1.7 +1.1 +0.3 —O.it +1.3 +0.3 -0.2 -1.0 +1.3 -7.9 +9.5 -1.7 -3elt -0.2 •=0.3 +2.it +1.1 ~0.ll +2t.it +1.7 +13eit +l.lt +2.14 End of December to last Wednesday of November 1V55 I 1V5U | 1Y53 I m i I I lybO" Total loans (less interbank) +9.8 +1.5 Business (excluding nonbank financial 6/+li«6 or sales finance companies) 2/ =0.2 Nonbank financial "* <7/ Sales finance companies +0.8 -0.it (Business (Including nonbank financial or sales finance companies)) 6/(+5.i4: (-0.6) Real estate 3 +1.5 Security +0.2 Agricultural =0.9 •0.1 Consumer +2.1 -0.1 All other 2/ +0.9 *0ok +2.7 +5.I1 +lt.lt +8.2 +0.3 +1.7 7/ =5.1 7/ n.a. n.a. 7/ n.a. (•0.1) +1.0 —0.2 +0.6 +l„lt +0.2 (+1.6) (+3»k) (+it.O) +1.0 +1.0 +1.9 +0.2 +0.2 -0.7 +0.7 ' +0.5 +1.6 -0.2 +0.3 1/ +o.ii +I06 +0.7 U. S, Government securities -7.6 +6.7 +0.it +2.6 -0.il —5*3 Other securities +0.3 +1.5 +0.5 +0.9 +0.6 +1.9 Total (less bank) +2.5 +9.6 +8.8 +3oli +lt.6 +it.9 1/ Less than $b0 million, n.a.—Not available! r . . . — w "iiata are on revised basis bei beginning June 1959 and exclude loans to nonbankTfin financial institutions. For previous years, loans to sales finance companies at weekly reporting banks have been shown separately to provide roughly comparable changes in business loans on revised basis. 3/ Total credit increased about $1 billion as a result of bank structure changes| 1600 million in loans| $300 million in U. S. Govt, securities; and #100 million in other securities, it/ July=0c£. 5/ Jan.^June. 6/ In Oct. 1955s the level of business loans was increased by, and that of real estate loans decreased by s #300 million to correct classification errors. Most of the misclassification probably occurred during 1955« No adjusted changes have been computed for the year to date. 7 / Included in Digitizedbusiness for FRASER and "all other." 8/ Included with nonbank financial. 9/ Includes about $200 http://fraser.stlouisfed.org/ million outstanding due to Sears8 transaction. • Federal Reserve Bank of St. Louis - 7 " Table 2 L.U.3 Changes In Loans and Investments at Weekly Reportlog Mexfcer Baaiks and NonreporfcLng Bzmkg (Ta b tllions ef • Weekly reporting banks @ Last Wednesday of October to last Wednesday of November Item 1961 I960 1959 +0.5 -0.it +0.1 +0.2 +0.1 -0.3 -0.2 TO +0.6 —1.0 -0.2 TO & 2/ *3.1 +0.1 TO +0.2 -0.1 -0.1 TO 1958 1957 1956 1/ Total loans U. S. Government securities Other securities Total loans and investments +0.8 +0,9 -0.3 TO' -0.3 -0.2 -0.2 TO +0.5 +0.2 -0.1 TO +0.5 +0.6 +0.1 TO +0.2 -0.2 2/ TO +0.1 +o.5 +0.1 TO uZL&igi DsnKB X/ • 0 Total loans U. S. Government securities Other securities Total loans and investments +0.5 TO Last Wednesday of October to last Wednesday of November Item 1955 Weekly reporting banks @ 1951 1953 1952 1951 1950 1/ Total loans U. S. Government securities Other securities Total loans and investments +1.3 -1.3 -0.2 TO +1.3 -0.1 +1.0 +0.7 2>/ +0.1t +0.2 2P/ +l.k -0.7 +T^T +0.2 +1.0 2/ TO +0.6 2/ +5.1 TO *0.2 +0.it +0.1 TO +0.2 +0.5 2>/ +0.1 +o.5 +0.1 TO 2/ —0.1 Monreporting banks 1/ ^ Total loans U. S. Government Other securities Total loans and investments +0.5 -0.2 2/ TO ! °%578 2/ ~w #3/Beginning 1959s changes are on revised basis. Changes may not correspond exactly with published data for weekly reporting banks because loans to foreign banks have been excluded from this tabulation. 2/ Less than $50 million. Not for publication Table 2 L.U.3 Changes in loans and Investments at Weekly Reporting Meaber Baaaks and Nonreporting 1*1*11 (ii billions of dolii^J End of June to last Wednesday of November 1961 Weekly reporting banks 1960 1959 1958 1957 1956 +2.9 -2.9 =0.5 -0.2 -0.1 -0.3 =lol +0ol 40.1 +1.3 -0.lt -0.3 +1.0 +3.6 +0.5 +0.6 +1.3 +0.5 1/ Total loans U. S. Government securities 1 Other securities Total loans and investments +1.3 +1.8 +0.8 =0.2 +lt.O +0.2 wz Norir$gqrting banlcs 1/ 1 Total loans U. S. Government securities Other securities Total loans and investments I Sr +1.0 +2.0 40.2 3/+0.2 • S 3 J/+57F +CT 40.7 +2.0 +0.1 T O End of June to last Wednesday of November Item Weekly reporting banks +1.3 +2,6 +0.5 75% 1955 195k 1953 1952 1951 1950 1/ Total loans U. S. Government securities Other securities Total loans and investments +3.7 -2.lt =0el| •1*0 +3.7 40*3 +0.9 +3.5 •T/ +2.7 +1.6 w •0.1 +0.9 +5.0 -3.7 4? +57D +2.3 <0.3 +2.2 +577 W7? •l.li ~0.lt 0.3 iT3 +0.6 +0.6 Nonreporting banks \J I Total loans U. S. Government Other securities Total loans and investments +1.7 *0.5 +0.2 W 3 +0o7 +2.9 +0»li •0.9 +lo6 +0.3 W 3 +1.2 +0,2 +0.2 1/ Beginning 1959g changes are on revised basis. Changes may not correspond exactly with published data for weekly reporting banks because loans to foreign banks have been excluded from this tabulation. 2/ Less than $50 million. —3/ Total credit at nonreporting banks increased about $300 million as a result of bank structure changesj loans increased about $200 million and U. S. Government securities about $100 millione h/ June 30s 1961g call data used for weekly reporting banks« ^Tot for publication L.U.3 Table 2 Ghanges in $@an# and Investments at Weekly Reporting Nenber Banks and Nanrepoi (in b illions of do] End of December to last Wednesday of November 1961 * Weekly reporting banks $ I960 1959 1956 1957 1956 1/ Total loans U. S. Government securities Other securities Total loans and investments -0.2 +3.3 *1.6 +0.2 +1.6 -0,2 +5.3 -7.3 -0.5 -1.1 +6.1 +1.1 —0.1$ —1.6 +0.2 -lt.0 —0.6 +3.1 +1.9 +0.9 +3.2 3 M . 5 -0.3 3/-0.6 3/*0.2 +2.6 +3 .It +1.0 +2.3 -0.1 +0.9 +2.1 +0.6 +0.2 +ET7 +U.-1 Nomr*Bqfting banks 1/ 0 e Total loans V, S. Government securities Other securities Total loans and investments +77? *33 ^ 9 End of December to last Wednesday of November Item 1925 Weekly reporting banks f 3/TO 19S4 1953 1952 1951 1950 1/ Total loans U. S. Government securities Other securities Total loans and investments +6.1* -7.3 -0.3 -0.lt +lt.6 +1.1 +0.7 -0.2 +3.1 +0.8 +0.5 +2.9 —1.6 +0o2 +5.7 -L.5 +1.3 ^ 3 Unreporting banks 1/ ^ Total loans U. S. Government Other securities Total loans and investments +3.11 -0.3 +0.6 +1.9 +2.1 +0*lt +2.0 +0.6 +0.5 +2.3 +1.8 +0.1 +CT +1.5 +1.2 +0.1t +2.5 —0.8 +0.6 2/ Less than $50 million. 3/ As a result of bank structure tocreased million in loans; $ 3 0 0 ^ 1 ^ ! ! * " $1 billion, $600 So Government securities; and $100 million in other securities. %ot for publication L.U.3 — 10 " Table 3 Changes in Commercial and Industrial Loans 1/ • (In millions of dollars) Business of Borrower Food processors Commodity dealers Trade concerns Total Last Wednesday in October to last Wednesday in November 1961 +16L +131 *127 1960 +169 +163 +112 +mm 1959 3/ 1958 3/ 1957 3/ 1956 3/ +138 +218 +17l ^3 Sales finance 1955 +135 1951 3/ +181 +185 + 95 +127 +H57 + 65 + 89 + 69 +199 +iia + 83 W 3 + 87 T +172 + 39 +395 + 89 —I8I4. + 9it +315 +108 +108 - 32 -58 + 11 + Wi -92 +181 + 88 - 59 - 95 -101 + 11 — 89 • 73 - 60 - 7 - 71 + 51 — 58 —• 2 0 - 57 + 76 - 72 - 7 - 9 + 10 + U - 76 + 76 - 13 + 3k - 62 + 37 = 3 — 38 • 63 — 2 it + 2 + 58 — 15 - 58 + 20 - 19 + 73 + 22 - 21 - 9 + 23 +102 + 79 + ij.8 + 2h - 99 + 51 + 1*9 + 53 Classified Unclassified +382 -128 +361 «=» 28 +583 — 8U +U38 =100 -200 - 70 - 86 +803 +U07 +899 li/+761i - 9 Total change +251* *333 +U99 +338 -270 +717 +890 +1,171 Total change excluding sales finance +251* +333 +199 +2lt9 = 86 . +623 +575 +1,063 Metals and products Textiles, apparel and leather Petroleum, coal etc. Other manufacturing and mining Public utilities Construction All other types of business +113 1/ Prior to week ending January 11, 1956, includes changes in agricultural loans. 2/ Not included in business loans on revised basis. 3/ In order to keep comparisons on a five-week basis, the following dates were useds ~ 1959, Oct. 28-Dec.. 2| 1958, Oct. 29-Dec. 3| 1957, Oct. 23-Nov. 27f 1956, Oct. 2lt= Nov. 285 195k, Oct. 27-Dec. 1. k/ Includes CCC certificates of interest which are estimated to have increased ™ million. Not for publication L.U«3 11 Table 3 Changes in Commercial and Industrial Loans 1/ (In millions of dollars) Business of Borrower Food processors Commodity dealers Trade concerns Total Sales finance Metals and products Textiles, apparel and leather Petroleum, coal etc. Other manufacturing and mining Public utilities Construction All other types of business Last Wednesday in June to last Wednesday in November 1961 I960 1959 1958 1957 1956 1955 1951* +522 +311 •363 +1*58 +21*1 +115 +567 +1*35 H7UT7 +1*99 +388 +318 +350 +337 +2I16 +651* +635 +257 I+1T5G5 2/ %f $/+13k -192 -677 —1*18 +223 -196 +161 +1155 +1*18 +388 +1*61 +1*75 +188 +371 + i ; m +17057 -U*6 -67k -22lt -561 -51*8 -221* + 79 —52l* -21U -173 - 39 - 1*1* -189 — 62 -139 - 9 +1*86 + 70 + 5 +159 - + -109 - 57 + 58 +101 +151* +313 -173 + 86 + 80 1*1* 8 + 61 + 79 — 15 + 1*9 - 96 - 17 - 28 -118 +232 - 77 +817 -1*55 +1*95 +1,61*9 -378 -207 +1*33 -2l|2 —589 +1,771 -1*15 -232 Total change +362 +117 ••1,1*1*2 +191 »1,00l* k»539 Total change excluding sales finance +362 +117 •1,308 +383 -327 +1,957 + 59 - 57 + 21 +258 + Classified Unclassified 2l;0 +302 + 60 +211 +153 + 38 + 55 - 1*5 -271 + 68 +161* +2,316 +275 3/ -121 h/ - 27 1/ +2,195 V +21*8 +1,972 |/ +1*1*1* 1/ Prior to week ending January 11, 1956, includes changes in agricultural loans. 2/ Not included in business loans on revised basis, "%! Includes CCC certificates of interest which are estimated to have declined $300 million, It/ Includes CCC certificates of interest which are estimated to have increased S353 million. j>/ Week of July 1« Not for publication L.U.3 12 Table 3 Changes in Commercial and Industrial Loans 1/ (In millions of dollars) Business of Borrower last fednesday in December to last Wednesday in Noveraber 1961 1960 1959 1958 y 1957 1956 1955 195k Food processors Commodity dealers Trade concerns Total - 37 + 16 +188 715? - 36 -220 +613 . 737 Sales finance n.a. n«a. Metals and products Textiles, apparel and leather Petroleum, coal etc. Other manufacturing and mining Public utilities Construction All other types of business -516 +388 +620 - 37 - 91 +100 - 91 +335 -250 +112 Classified Unclassified Total change Total change excluding sales finance - 1*1* +212 +71*2 ^Io -105 +353 -201 +21*9 +1*28 +21*5 rrr +1^0 -122 + 15 +517 -117 + 97 +11*8 +I5B -312 -71*0 +811 -371 -415 +386 +1,138 +256 -1,101 +169 + 17 -105 -202 • 9 +352 +230 +910 +289 +1*66 + 60 + 28 +310 -105 >117 +208 +177 + 89 + 1*8 —118 +105 +118 +1*95 — 1*0 +1*1*9 •579 - 3 +208 +1*1*2 +235 - 1*7 —ll*5 *139 +66J4 +395 + 12 +300 -132 +303 +1*56 +270 +351 -397 +1,1*72 -177 +815 -570 +3,895 -113 hh +1,295 +2,657 -1,325 - 23 -123 6/ *2,631* -l,7l*7 - W* +1,295 +2,179 +557 1 h/ +1**522 "2,1.62 jI5/-877 — < -159 +105 +160 +IG5 6/+l*55 -1,015 -702 +3,572 —1,0! 0 1*7-299 5/=*2u6 1/ V *21*5 +3,782 +3,273 1/ Prior to week ending January 11, 1956# includes changes in agricultural loans. 2/ Not included in business loans on revised basis after July l e 3/ Data for 1958 have not been revised for additional banks and coverage <> %/ Includes CCC certificates of interest which are estimated to have declined by $820 — million, 5/ Includes CCC certificates of interest which are estimated to have increased by $it20 million. 0 6/ Includes sales finance through July 1« f Not for publication - 13 L. it. 3 Table 1* Estimated Changes in Deposits and Currency (In billions of dollars) Item Seasonally adjusted data 1/ bemand deposit component Currency component Total Seasonally adjusted data 2/ 2 Demand deposits adjusted Currency outside banks Total Seasonally unadjusted data 2/ Demand deposits adjusted " Currency outside banks Total Time deposits Commercial banks Mutual savings banks U. S. Government deposits Total Factors affecting deposits and currency Sank loans and investments other than U. S. Govt. sec. k/ — Commercial Mutual savings Bank holdings of U. S. Govt, securities: Federal Reserve Commercial Mutual saving and other Gold stock and foreign deposits at F. R. Banks Other factors T 1961 I960 1959 1958 19# 1956 Last half of October to last half of November -0.7 *0*2 =53 -1.3 3 3 +0.6 -o.i -0.1 •o.i wn =0.3 3/ +0.2 +0.1 *53 j^ast Wednesday of Oct. to last Wednesday of Nov -0.2 =>0.2 *0.5 •0.1* —0.1 =5^ *0.1 —0.9 -0.2 =nr -0.2 -0.1 +0.6 •0*1 -0*3 +0*1* ion: +0.1* +0.8 +0.9 •0.8 3/ • -0.8 +0*9 •0*1 wr? •0.9 +0.3 —0.6 °0«1 —0.6 -0.5 =575 I T +0*1 3/ V" -5.6 -5.9 +2a I : =53 =53 +3TX nA tqs indicate effect on deposit;s afid currency) *1«3 *"lo2 *0*1 *53 +0*lt —O.ij. *0.1 -0.3 =Oo8 •0.6 •0*3 ^ 3 -o«i =0.1 =0.5 =0.9 +0.8 •0.5 '•v +0*1 +1.0 —0*1. +0*2 +0.2 •STF +0*f —0*9 +1*9 —0*3 +1*2 -i.i +1.5 -0,1 +0*1 -0.2 3/ -m.2 —0.1* +0.7 -0.2 -0*2 •0.2 «0*1 +0*1 +0*2 1/ Averages of daily figures. 2/ Seasonally adjusted data are for last Wednesday ~ Throughout; unadjusted data are for last Wednesday except in case of June and December call dates, when available. 3/ Less than $50 million, h/ Total includes foreign loans on gold, holdings of bankers' acceptances at the Federal Reserve, and loans to foreign banks; changes in these items are generally relatively small. Even if there were no changes in other items, changes at commercial banks exclude all interbank loans, domestic and foreign, while total loans exclude only those to domestic banks. In addition there is some lack of synchronization in reporting asset and liability items used in computing "loans net." L. =• Ik •= k» 3 Table ii Estimated Changes in Deposits and Currency (In billions of dollars) Item Seasonally adjusted data 1/ Demand deposit component Currency component Total 1961 *1.2 *0.5 O.it •0.1 W3 •=0.6 -0.1 +2.5 +0.2 -0.7 ,2/ +27? +0.1 •*0.2 *53 )f June to last Wednesday of November Seasonally adjusted data 2/ Demand deposits adjusted Currency outside banks Total +3.1 +0.2 -l.it *=0.1 +0.3 ^ 3 Seasonally unadjusted data 2/ Demand deposits adjusted ~ Currency outside banks Total Time deposits Commercial banks Mutual savings banks Ue S. Government deposits Total Factors affecting deposits and currency Bank loans and investments other than U. S. Govt. sec. V Commercial "~ Mutual savings Bank holdings of U. S. Govt, securities: Federal Reserve Commercial Mutual saving and other Gold stock and foreign deposits at F. R. Banks Other factors I I960 1959 5/ 1958 1957 1956 Last hair or June to last nair bi N6v6k#eP +6.2 +3.6 -0.3 ^ 3 +1.0 tM, +6.5 +0.7 +0.ii J a •O.it -3.9 W 3 •QI *32? indicate effect on deposits and currency) -0.1 =0.6 =>2.3 +0.7 +2.0 TO +1.1 *53. =2.1 +3.7 +1.0 +2.5 +1.0 +1.1 +1.6 +1.7 +2.2 +5.o +0.9 +7.1 +13 +6.3 -0.3 =»2.1i =0.5 =0.1 =o.5 «=X©ii <=2.1 -0*2 caQ.il -0.7 •=0.6 =0.8 +3.1 +57F +l.ll +1.6 -o.5 +0.3 -T.o 1/ Averages of daily figures. 2/ Seasonally adjusted data are for last Wednesday ™ throughout; unadjusted data are for last Wednesday except in case of June and December call dates, when available. 3/ Less than $50 million. V Total includes foreign loans on gold, holdings of bankers' acceptances at the Federal Reserve, and loans to foreign banksj changes in these items are generally relatively small. Even if there were no changes in other items, changes at commercial banks exclude all interbank loans, domestic and^foreign, while total loans exclude only those to domestic banks. In addition there is some lack of synchronization in reporting asset and liability items used in computing "loans net." 5/ In August 19599 as a result of structure changes, demand deposits adjusted increased about #200 million and time deposits at commercial banks about $200 million. - 15 L. It., 3 Table 1* Estimated Changes in Deposits and Currency (In billions of dollars) Item Seasonally adjusted data 1/ Demand deposit component Currency component Total 1961 Factors affecting deposits and currency Bank loans and investments other than U. S. Govt. sec. k/ Commercial ~~ Mutual savings Bank holdings of U. S. Govt, securities: Federal Reserve Commercial Mutual saving and other Gold stock and foreign deposits at F. R. Banks Other factors 1929 2/ 1928 | 1927 | 1926 -1.7 +0.1 =13 •2.7 •0.2 6/+3.8 •O.k 6/3C2 6/+1.1 -0.3 6/+O +0.9 +0.3 •EX +1.7 . +0.3 —1.0 2/ d b +1.2 +0.1* am f Decembe: to last Wednesday of Nove:mber 0 Seasonally unadjusted data 2/ Demand deposits adjusted Currency outside banks Total Time deposits Commercial banks Mutual savings banks U. S, Government deposits Total I960 Last half of December to L ast half of November 1 Seasonally adjusted data 2/ Demand deposits adjusted Currency outside banks Total 1 loU V +1.1 <0.2 +1*.8 -1.2 +0.3 TE3 -3.2 -0.7 -2.1* •0.1* +1.6 +0.2 —I1.2 +0.2 •lu9 +2.0 +7.7 +2.1t +0.9 +0.1 +1.7 +1.0 +0.6 +1*8 +1.3 °0«$ +0.2 +1.6 -0.8 +13 6/nr:7 +OZ •THE (signs indicate effect on deposits and currency) +6.8 •1*.9 •10.3 +6.1 +1**8 •7.9 •2.0 •1.2 •2.7 +2.1 •2 oil -8.1 7531 -7.9 °o»2 •10.6 -3.8 »1*.2 •2.2 -0.1 +53 +1.5 -0.7 +9*2 -1.7 -0.7 -3.2i *=0.7 =0.8 -1.2 -1.0 -2.0 +0.9 -1.3 -1.7 •2.2 *TE •6.1* •1.2 •1.9 -Oo7 —3*8 •1.1* -0.1* -3*3 +0.2 1/ Averages of daily figures. 2/ Seasonally adjusted data are for last Wednesday Throughout; unadjusted data are for last Wednesday except in case of June and December call dates, when available. 3/ Less than $20 million. 1*/ Total includes foreign loans on gold, holdings of bankers' acceptances at the Federal Reserve, and loans to foreign banksj changes in these items are generally relatively small. Even if there were no changes in other items, changes at commercial banks exclude all interbank loans, domestic and foreign, while total loans exclude only those to domestic banks. In addition there is some lack of synchronization in reporting asset and liability items used in computing "loans net." 2/ In January, April, and August 19293 *as a result of bank structure changes, demand deposits adjusted at commercial banks increased $1*00 million, time deposits at commercial banks # 0 0 million, and time deposits at mutual savings banks declined $300 million. 6/ Due to reclassification of deposits of foreign official institutions in May 1961 demand deposits adjusted were increased by about $1*00 million and time deposits by about $1.2 billion; deposits of banks were reduced http://fraser.stlouisfed.org/ by about billion. Federal Reserve Bank $1.9 of St. Louis — 16 — T ab le 5 Ratios to Total Deposits L O A N S Date All commercialbanks 191*6! 191*7: 191*8: #91*9: 1950s 1951: 1952: 1953: 1951: #955: 1956: 1957: 1958: 1959: Dec, Dec, Dec, Dec. Dec. Dec. Dec, Dec, Dec, Dec, Dec. Dec. Dec. Dec. •1960s June 29 July 27 Aug, 31 Sept.,28 Oct, 26 Nov, 30 Dec, 31 1961: 31 31 31 31 31 31 31 31 31 31 31 31 31 31 Jan, 25 Mar, 1 Mar. 29 Apr. 26 May 31r June 30r July 26pz Aug, 31pj Sept.27p Oct, 25p Nov* 29p 23.3 27.7 31.2 31.1 35.8 37.2 39.3 1*0,5 1*0,3 1*5.8 1*8,8 1*9.7 U8.it 51*.o 57.1 56.2 56.6 56.3 55,3 55.1* 55.1 51**5 55.5 55,8 55.6 55.8 55.6 51*. 8 55.1 51*.8 51**1* 51*. 7 Total 23.7 28.2 31.3 30.9 36,1 37.6 39.9 1*1.1 1*0.7 1*6,7 50,1 51.0 1*9.1* 55.6 Member bank; Central reserve city keserve "New York Chicago city 27.7 31.0 35.9 31*. 9 1*2.5 1*6.3 50.6 50,6 1*6,8 56. 61, 61, 57, 67< 58.5 57.5 58.0 57.6 56.7 67.1* 66,9 67.7 56,5 6 5.9 66.0 65.5 56.8 3/ 66,0 55.8 56.8 57 2 56 9 56,9 56,>6 55<,7 56<»1 55.8 55.1* 55.8 62.7 65.8 65.0 65.3 65.1* 61i,0 62,0 62,8 63 .6 62.9 63.5 26,0 27.3 30.3 30.1; 31.1 33.1* 32.1* 38.1 39.1* 25.6 32,3 36,2 1*1.1 1*2.2 38.9 39.1 38,3 1*6,3 52.7 55.2 1*9.1* 1*1.9 1*8.5 52.7 53.3 51.3 58.2 58.2 63.2 61,9 60.5 61.7 61.1 61, it 61,U 60.3 61,0 60.6 59.1* 59,7 59.0 60.8 58,8 62.0 61*, 7 62.1 58.3 57.1 51*. 8 57.1 56.6 57.9 57.7 58 t X /M> 59 59 58 58 58.6 57,6 57.1* 58.0 U.S. Govt, securities maturing within one year "All commercial Country banks 18,9 23.1* 27.1 28,5 31.5 32.1 33.9 36.1 37.1 1*0,7 1*2.6 l*l*.l 1*1*. 1* 1*8.2 51. 51, 5l< 51, 50. 3/50, 50. 50.1 50.5 5/51.0 5i.o 51.6 51.8 51*>3 51,•3 51.,3 50.5 50.8 f ll*.3 llt.O 11*. 2 19.2 15.2 9.8 11.7 16.9 10.0 5.1 7.5 8.1t 8.3 6.7 l*.l 5.2 . 5.1* 6,h 7.7 8.1 8,1 8,5 8.9 8,1 9.3 9.8 10.8 12,2 11.1* 11.8 iioit II e 3lo 1/ Total loans (adjusted to exclude loans to banks)j 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/ Prior to 1951* data are on call basis and beginning in 1951* they are on maturity basis. On a call basis, data for 1951 and 1952 are 21,5 and 19.1 respectively, 3/ Data not strictly comparable with previous figures as one large country bank merged with a central reserve city bank, h/ Includes merger with nonmember. 2,/ Reserve city banks reclassified as country banks, n.a. Not available. http://fraser.stlouisfed.org/ Federal of St. Louis NotReserve for Bank publication L.l*»3 - 17 Table 6 Free Reserves and Total Reserves Held (Based on averages of daily figures; in millions of dollars) Total reserves held seasonally adjusted V All Central reserve city Reserve 1 All Country member New York Chicago city 1 member Free reserves (ejccess reserves minus 1sorrowings) Date Monthly averages: 1958$ 1959: Dec. Dec. —' I4I -1*25 - 80 -109 - 32 -101* -197 -1*1*9 268 237 18,1*91* 18,51*0 I960: May June July Aug. Sept. Oct. Nov. Dec. - 33 1*1 120 21*7 143 489 61k 681 1*5 16 - 3 - 27 - 2 9 31* 10 - -173 -120 -128 - 62 - 1*1* - 2 38 80 11*1* 201* 290 375 1*61* 1*83 51*6 596 18,370 18,350 18,1*81 18,518 18,731 18,81*2 19,007 18,871* 1961: Jan. Feb. Mar. Apr, May June July Aug. Sept. Oct. Nov* p 695 517 1*76 562 1*53 519 530 537 553 liU 509 26 26 9 60 - 22 1*0 7 7 2 12 11* 2 — 2l* - 13 89 10 35 39 18 66 56 1*1* 5d 8 13 583 510 1*31 1*67 1*51 1*38 1*67 1*81* 1*99 1*1*6 1*91* 19,01*8 19,175 19,175 18,979 18,989 19,099 19,025 19,21*2 19,1*11 19,719 19,892 - 3 - 13 7 500 n.a. 1 - 11 - 10 29 - 15 - 6 - 13 65 1*50 1*11 511* 528 1*99 n«si# n e 9.0 n.a* 36 1*1*0 1*9 59 39 38 5 2 1* 1* - 29 1 - 1* 5 5 «*«# 1 Weekly averages8 1961: Oct. 25 1*93 Nov. 1 8 15 22 29 1*70 385 167 508 621 "" 25 3 61* 6 508 33 Dec. — - 17 - 10 - —— 8 J.VX -mxuo « v * c u w c i aux*u Lfcvciuuoji mi c pidxjLULLiieir.y • jl/ o e n e a r e v i o e u j revised data first published in "Banking and Monetary Developments" for August, 1961. Revised seasonal factors and back data may be obtained from Banking Section, Not for publication L.U.3 - 18- Table 7 Changes in Member Bank Reserves, with Relevant Factors (Monthly average of daily figures; in millions of dollars) November Item 1961 1960 1 3/ July - N ovembei£/ January - November^. 1961 I960 1961 I960 Member bank reserves Required reserves 1/ Effect of change in requirements Effect of deposit change Excess reserves 1/ Total reserves held 1/ Cash allowed as reserves 1/ Reserve balances "™ Total reserves held, seasonally adjusted + 65 +153 +788 +1*20 +703 + 6* +153 +788 «* 36 +1*56 +703 +107 +118 + 2 +290 -151 +271* +172 +271 +790 +710 +51*9 + 72 +100 + 72 +377 -106 +151* +636 +971* —261* + 51* +1*95 +963 -891 +173 +165 +793 +657 +1,005 +1*67 -202 - 36 —166 (signs indicate effect on reserves) Principal factors Currency in circulation Gold stock and foreign accounts Treasury operations Federal Reserve float 1*/ Other factors 1*7 -393 -290 -1,010 -153 + 3 + 19 + 7 -530 - 69 - 73 Effect of above factors on reserves -517 -926 -1,089 •i,77i +617 -51*7 -237 +301 -1,307 -782 +222 -288 +212 -1,306 -873 -968 +820 H,725 +1,507 +1,369 + 77 +816 •1,681 +1,71*7 + 36 -31*8 +182 +112 - 25 + 80 ;2 +133 -178 + 82 Federal Reserve loans and investments: Total U. S. Govt, securities Outright Repurchase agreements Acceptances Discounts and advances: To member banks To others +572 + 37 + 5 + 1*0 5515 +202 + 13 - - 7 2 •1,605 + 76 + 3 + 1*2 «• 1 +323 + 21* —283 + 19 +1,368 ' + 6 +286 - 12 <•> 8 + 18 -761* + 11* - 5 1/ Preliminary for November 1961. 2/ Computed on daily averages for June and November* 3/ Computed on daily averages for December and November# 1*/ Beginning January I960, data are on new basis excluding collected funds. ~ — 19 w Table 8 L.lu3 Liquid Assets Held by the Public — Seasonally Adjusted Series (Amounts in billions of dollarsj ratios expressed as percentages) End of year or month Total liquid assets (2+3+8) ( 1950 1951 1952 1953 1954 1955 • 1956 1957 1958 1959 i960 July Aug. Sept. Oct. Nov. Dec. 1961 Jan. Feb. Mar. Apr. May June July Aug. •Sept. r Oct. 1 • Ratio: Ratio: Demand Personal-type savings Commercial Conine rcial Total deposits Total U, S. Govt bank demand bank deposits Savings u. s. securities liquid adjusted personal- Time d«iposits and time deGovt, + currency to assets to type adjuslted 1/ and maturing and posits adj. gross total liquid savings within one currency savings Commer- Mutual loan and currencj assets national shares bonds outside (li+5+6+7) cial savings year V (2 • It) (9 + 1) product 6y banks banks 2/ banks 1/ 3/ V 10 11 6 8 9 3 5 7 2 k 114.6 120.2 124.1 126.6 130.0 133.5 134.5 133.6 138.8 140.2 129.0 132.7 140.6 148.6 158.1 166.4 174.1 182.8 196.7 204.4 36.3 37.8 40.6 43.6 . 46.8 48.5 50.7 56.4 63.4 66.2 23.O 23.6 25.2 26.7 28.5 30.0 31.6 33.0 35.1 35.9 14.0 16.1 19.2 22.8 27.2 32.0 37.0 41.7 47.7 54.3 55.7 55.2 55.6 55.5 55.6 55.9 54.8 51.7 50.5 48.0 28.2 31.1 31.5 33.1 29.9 30.4 31.3 35.3 33.4 44.1 150.9 158.0 164.7 170.2 176.8 182.0 185.2 190.0 202.2 ' 206.4, 55.5 55.6 55-6 55.2 55.6 55.1 54.5 54.0 54.8 53.1 138.6 138.6 138.5 139.9 138.8 139.2 209.2 211.0 212.6 214.2 216.0 217.7 67-5 68.6 69.3 70.0 71.1 71.7 36.4 36.4 36.6 36.8 36.9 37-1 58.3 59.1 59.7 60.5 61.1 61.8 47.0 46.9 47.0 46.9 46.9 47.1 4i.o 40.7 41.6 39-9 38.9 39.1 206.1 207.2 207.8 209.9 209.9 210.9 53.0 53.1 52.9 53.3 53.3 53.3 398.1 140.7 400.8 139.4 403.9 140.4 406.8 141.5 408. lj/l40.8 413.0 140.9 4i4.4 141.5 414.4 141.3 41?. 2 141. 8 420.9 143.8 219.3 221.4 222.7 224.0 227.5 229.4 231.1 232.7 234.7 72.2 73.7 74.1 74.8 : 77-4 78.4 79.0 79.8 80.7 81.4 236.3 37.3 37,3 37.5 37.6 37.7 37.9 38.3 38.3 38.6 38.7 62.6 63.2 63.9 64.5 65.2 65.9 66.5 67.3 68.0 68.9 47.2 47.2 47.2 47.1 47.2 47.2 47.3 ;.-7 _ 38.1 40.0 40.8 41.3 39.8 42.7 41.8 40.4 40.7 40.8 212.9 213.1 214.5 216.3 218.2 219.3 220.5 221,1 222, 5 225.2 271.8 284.0 296.2 308.3 318.0 330.3 339.9 351.7 368.9 388.7 388.8 390.3 392.7 394.0 393.7 396.0 http://fraser.stlouisfed.org/ Federal Reserve Bankeof St. Louis e • J • • 47.4 47.3 # # 89.1 83.3 82.2 85.1 85.3 80.7 78.8 79.3 79.4 79-5 53.5 53.2 ^.1 53.2 53.5 53.1 53.2 ... 53-'' ' 53- 3 53.L e * : i 77.2 : 78.1 j 79.8 79.1 78.9 e p Preliminary. 1/ Data for demand and time deposits adjusted and currency outside banks are as of last Wednesday of month, except that time deposits are as of June 30 and December 31 when call data for these dates were available. Demand deposits adjusted are total demand deposits less interbank and U. S. Government demand deposits and cash items reported as in process of collection. Time deposits adjusted are total time deposits less interbank and U. S. Government time deposits. 2j Includes savings deposits in the Postal Savings System. j/ Prior to 1955 data are Board estimates based on monthly figures of inflow of new savings and withdrawals of savings capital compiled by the federal Home Loan Bank Board. hj Includes all types of savings bonds held Try investors other than banks and U. S. Government agencies and trust funds. Beginning May 1953 includes all marketable securities maturing within one year (adjusted to include partially tax exempt securities 12 months prior to first call date) and, prior to 1956, nonmarketable Treasury savings notes with maturities up to 24 months; figures include holdings of insurance companies, brokers and dealers, State and local governments, nonbank corporations, corporate pension funds, non-profit institutions, foreign accounts, and individuals; prior to May 1953 includes securities callable within one year. 6/ Gross national product estimates are available quarterly and annually only. For 1950-58 ratios are for last quarter of year; for 1959 and i960, for each quarter of year. Data for total liquid assets used in computing these ratios are quarterly average for four dates: each month of the current quarter and the last month of the preceding quarter. jJ Demand deposits adjusted (before seasonal adjustment) was increased by $400 million and time deposits adjusted (before seasonal adjustment) was increased by $1.5 billion due to the reclassification of deposits of foreign official institutions which formerly were grouped with interbank deposits and excluded from demand and time deposits adjusted. Not for publication - 20- Table 9 Demand Deposits, Currency, and Related Items (Averages of daily figures. In billions' of dollars) Period 1954- -Deo. 1955- -Dec. 1956- -Deo. 1957- •Dec. Money Supply Seasonally adjusted CurDemand Total rency deposits 132.0 1)4.7 136.6 135.5 140.9 141.5 1958-—Dec. 1959-—Dec. 1960- -Sept Oct* Nov. Dec. 1961- -Jan. Feb. Mar. \ Apr. May June July August Sept. 140.3 140.5 140.0 141.2 140.6 139.9 140.3 140.5 140.2 141.0 141.3 141.1 141.1 142.0 141.8 142.2 142.0 141.9 142.4 141.9 142.1 141.9 141.9 141.8 142.7 23* Oct. i •>' Nov. f 145.7 27.4 27.8 28.3 28.3 28.6 28.9 29.0 28.9 29.0 29.0 29.0 29.0 28.9 29.0 28.9 29.0 28.9 28.9 29.0 29.0 29.0 29.0 29.0 28.9 28.9 29.0 29.0 29.0 29.0 29.0 29.2 104.6 106.9 108.3 107.2 112.3 112.6 111.3 111.6 111.0 112.2 111.6 110.9 111.4 111.5 111.3 112.0 112.4 112.1 112.1 113.0 112.8 113.2 113.0 113.0 113.5 112.9 -113.1 112.9 112.8 112.8 113.6 Related deposits-all cosssercial banks Without seasonal adjustment Gross U. S. Govt, demand Time 48.7 50.1 52.0 57.3 65.3 67.2 71.0 71.3 71.7 72.0 72.1 71.9 72.2 72.8 73.5 73.9 74.9 75-2 75.7 76.1 76.7 77.1 77.8 78.3 78.8 79.2 79.7 80.1 80.5 80.8 29.lt 113.8 81.2 81.5 81.9 %\i V M %-h 29.2 29.5 114.1 114.2 81.9 4.6 3.5 3-5 3.7 4.0 5.2 4.4 6.3 5-9 5.4 5.8 5.8 4.1 5.2 4.7 3.5 4.0 5.7 4.6 4.9 3.4 2.3 3.9 5.3 3.3 5.8 4.8 3.9 5.1 5.8 4.5 6.9 % 6.3 p - Preliminary, NOTE: Denland deposits are those other than domestic commercial interbank and U. S. Government, Jess cash items reported as in process of collection and Federal Reserve float. Currency is that outside the Treasury, the Federal Reserve, and the vaults of all commercial banks. Not for publication Table 1 0 Deposits and Currency (In billions of dollars) LoU.3 • (U) Seasonally adjusted money Cursupply and Demand rency Total time dep. deposits outside (2*3) at comm. adjusted banks (3) (1) (2) Seasonally adjusted money supply 1/ Year or month (6) (5) (7) (8) (9) (10) (11) (12) Total deposits Curu. s. rency and Govt. currency outside Commer- Mutual Postal deposits banks (5+6+10 savings savings cial £/ Time deposits Demand deposits Total adjusted (7+8+9) +11) banks(1+7) End of Dec. 3 954 1955 1956 1957 1958 1959 1/ I960: Sept. 28 Oct. 26 Nov. 50 Dec. 31 1961: Jan. 25 i Mar. n I ... T .29 APR. 26 130.0 133.5 134.5 133.6 138.8 140.2 103.1 106.1 107.1 105.8 110.7 112.0 26.9 27.4 27.4 27.8 28.1 28.2 176.8 181.9 185.1 189.7 202.0 206.1 106.6 109.9 111.4 110.3 115.5 115.4 75.3 78.4 82.2 89.1 98.3 101.8 46.8 48.4 50.6 56.1 63.2 65.9 26.3 28.1 30.0 31.7 34.0 34.9 2.1 1.9 1.6 1.3 1.1 0.9 5.1 4.4 4.5 4.7 4.9 5.8 27.9 28.3 28.3 28.3 28.7 29.4 214.8 221.0 226.4 232.3 247.5 252.4 138.5 139.9 138.8 139.2 110.3 111.5 110.6 111.0 28.2 28.4 28.2 28.2 207.9 209.9 208.8 210.6 109.3 112.2 111.9 115.1 106.0 106.7 106.7 108.5 69.4 70.0 70.0 71.4 35.8 35.9 35.9 36.3 0.8 0.8 0.8 0.8 8.2 6.7 6.1 6.7 : 28.3 28.3 28.7 29.4 251.8 254.0 253.5 259.6 June July Aug. y e Oct. 140.7 112.3 110.9 139.4 140.4 112.1 141.5 113.3 +/140.8 4/ 112.3 140.9 112.7 26p ' 113.2 141.5 3Gp 113.0 i 141.3 27p r 1^ l.E 113-4 14;.0 115. U 25p 28.4 28.5 28.3 28.2 28.5 28.2 28.3 28.3 28.4 28.8 212.4 212.7 214.6 216.5 4/218.7 220.0 221.0 221.5 222.7 225.2 36.5 36.6 37.0 36.9 37.0 37.3 37.5 37.6 37.0 37.9 0.8 0.7 0.7 0.7 : 0.7 0.7 0.7 0.7 0.7 0.7 4.1 6.5 4.9 2.8 5.5 7.0 6.4 6.? 8.9 6.3 28.0 28.2 28.0 27.9 28.4 4/ 29.4; 28.4:i 28.5 28.5 28.7 255.7 256.0 255.1 257.0 260.1 264.0 265.5 264.8 269.3 270. 7 Nov. 29P 114.8 1 28.6 224.6 38.0 0.7 6.2 29.1 271.3 143.4 109.0 114.7 71.7 110.6 110.7 73.3 111.9 74.2 110.3 113.6 112.7 75-0 4/ 110.6 4 / 1 1 5 . 7 4/ 77.9 110.5 117.1 79.1 113.0 117.7 79.5 lll.c 118.6 80.2 112.4 , 1 1 9 . C 80.9 81.4 120.0 115.7 116.2 81.2 119.9 : p Preliminary, l/ Seasonally adjusted series begins in 1946 and is available only for Wednesday of the month. 2/ At commercial, savings and Federal Reserve Banks. Demand deposits were reduced about $400 million as a result of a technical change under Regulation D amending the'definition of such deposits. On balance in 1959, ;%s a result of structure changes, demand deposits adjusted increased $400 million, time deposits at commercial baiiks increased $700 million, and time deposits at mutual savings banks declined $300 million, 4/ Demand deposits adjusted increased $400 million and time deposits at commercial banks increased Si.5 billion due to the Digitized reclassification for FRASER of deposits of foreign central banks. http://fraser.stlouisfed.org/ Not for Federal Reserve Bank Publication of St. Louis a # # # # # # • < L.U.3 Table 11 Loans and Investments at All Commercial Banks (in billions of dollars) I960: 1961: Dec. Dec. Dec. Dec. Dec. June June Dec. 31 31 31 31 31 ; 24 (old) 24 (new) i : 31 1/ Aug. 31 Sept. 28 Oct. 26 Nov. 30 Dec. 31 Jan. Mar. Mar. Apr. May June July Aug. Sept. Oct. Nov. 25 1 29 26 31 30 26p 3 Op r 27p r 25Pr 29P 16..3 69.O 61.6 155.7 160.3 164.5 169-3 184.4 184.2 184.2 189-5 16.7 16.3 53.6 58.2 17.9 66.4 20.6 °0.6 60.9 60.9 : 20.6 58.9 ; 2 0 . 5 189.0 191.4 193-8 193.9 198.5 ! 20.0 57.7 i 2 0 . 2 56.6 60.4 • 20.4 60.2 i 20.3 61.0 j 20.9 61.9 ; 20.9 195.6 197.0 61.3 ; 21.3 195.6 i 59.7 ; 2 1 . 7 197.2 60.7 1 21.8 2/199.2 i 6 1 . 5 ; 21.9 200.9 1 61.8 ; 2 2 . 1 203.3 1 64.7 j 2 2 . 3 2 0 3 . 0 i 64.2 ; 2 2 . 5 207-7 ; 66.0 i 93,9 208.4 1 66.^ j 2 0 9 . 2 1 66.2 ! 23.4 • ! 11 Date 1954: 1955: 1956: 1957: 1958: 1959: D. S. Other Govt, secur- Total securities loans ities Loans and investments Real Securestate ity 70.4 82.0 89.7 93.2 97.5 102.8 102.0 110.0 26.9 33.2 38.7. 40.5 40.4 42.5 37.8 40.2 18-. 4 20.8 22.5 23.1 25.3 94.9 26.9 28.1 4.5 5.0 4.3 4.2 4.7 4.i 4.1 4.9 IIP. 5 IV. 0 in.o 28.5 11?.': 41.2 41.8 41.8 42.3 116.7 43.1 112.8 114.4 114.2 114.7 •115.8 ; 117.0 116.3 41.5 41.8 42.8 42.4 42.3 42.8 42.3 42.5 42.9 43,1 28.7 28.7 28.8 28.8 29.0 29.3 29.5 29.7 2 9.9 43.5 30.5 II6.3 118.5 118.6 119.6 28.6 28.7 28.7 28.7 30.1 ! Farm ,- Consumer Nonbank financial AIL instituother tions 5.2 4.5 4.2 4.1 "5.0 s.O 5.0 5.0 10.9 13.2 14.6 15.8 15.9 17.5 17-5 | 18.8 i 4.1 4.4 4.2 4.0 5.1 5.6 5.6 5-7 5.7 5.7 4.2 4.5 4.0 4.7 4.8 4.9 5.9 6.0 5.1 6.0 ! 4.6 : 5.2 : 5-3 j 5.2 6.1 6.0 6.0 6.0 5.8 5.9 . 5.9 6.0 mmmimm 5.6 mm mm mm 6.5 mm mm mm 5.9 7.1 6.9 7.2 8.2 8.8 7.6 8.1 20.0 20,1 20.1 20.1 20.1 6.8 6.7 6.2 6.1 7.1 8.5 8.6 8.5 8.8 9.2 20.0 20.8 20.7 20.6 20.7 20.8 20.7 6.1 6.2 5.9 8.9 8.8 8.5 8.8 2/ 9.3 9.6 9.5 9.6 9-9 I 9.9 ;i 10.1 j on. 7 20.6 20.6 20.6 mm mm mm 9 mm 5.8 6.0 6.0 q .7 5-9 6.4 6.1 6.3 1 p - Preliminary, l/ Structure changes in 1959* on balance through August, added almost $1 billion to total credit- $600 million in loans: 3500 million in U. S. Government secu rities; and $100 million in other securities. Real estate loans increased about $300 million: bus! i:3S loans $100 million: consumer loans, $100 million- and other 1c-ns 8100 million. 2/ Increase of $200 million due to reclassification of foreign interbank Ic.ns into ether loans. Total loans are also affected by this same amount. NOTE: Data exclude interbank loans. Total loans are after and types of loans before deductions for valuation reserves. C nsuner and "other loans" are partly estimated IFor all dates. Other data are partly estimated on all but, June and December call dates. Beginning June 24, 1959 > "business loans" and "all other loans" hfve been revised to exclude loans to nonbank financial http://fraser.stlouisfed.org/ ifl^ta revised % n basis of September 2^call. ^ Federal Reserveinstitutions, Bank of St. Louis
@FedFRASER