The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE BANK
of KANSAS CITY
LA.5
FEB 2 1 1962
Research
Library
BANKING AND MONETA
ONETARY DEVELOPMENTS IN JANUARY 196?
Total commercial bank credit, which had increased sharply in
December, declined in January, but net credit expansion over the two months
was larger than usual. Loan reductions in January reflected mainly repayments of temporary year-end borrowing by businesses, security dealers, and
finance companies * Holdings of U. S. Government securities increased® The
seasonally adjusted average money supply declined between the second half of
December and the second half of January following substantial growth in late
1961# Seasonally adjusted time deposits at commercial banks rose sharply
further in January when many banks raised rates paid on savings and other
time deposits. Total reserves and required reserves declined somewhat in
January but free reserves rose*
Bank credit* Total credit at all commercial banks declined $2©2
billion in January following a near-record growth of $4 billion in December,
The net credit expansion over the two months was about the same as in the
comparable period last year but considerably larger than in other recent
years; in some years credit has declined between late November and late
January. Part of the 1961-62 increase was associated with bank acquisitions of new Treasury issues offered in January, but there had also been
cash financing in January of several other recent years.
The expansion over the two months was much larger relative to other
recent years at weekly reporting banks in leading cities than at other banks0
At nonweekly reporting banks, credit usually increases in these two months
and this year's increase, while large and about the same as last year's,
did not substantially exceed that of several earlier years•
Total loans at all commercial banks declined $3 billion in
January following a slightly larger December rise. Loan repayments were
concentrated in the business, security, and finance company categories
where most of the December borrowing had occurred. The $200 million net
increase in total loans between late November and late January contrasted
with a $600 million decline in the comparable two months last year. Growth
was much smaller, however, than in the two months ending January 1955,
1956, and 1959; years of rapid economic expansion.
Holdings of U. S. Government securities increased $600 million
further in January© Last year, holdings had increased $900 million, but
often Governments have declined in this month even when there had been
Treasury financing. On January 15, commercial banks were allotted about
$1.1 billion of the new $2 billion special Treasury bills to replace the
$1.5 billion maturity of that date, of which banks held about $200 million.
Not for publication
.3
^
-
2
-
On January 2k, commercial banks were allotted $800 million of the $1 billion
reopened Treasury bonds of 1969. At both weekly reporting and at other banks,
the December-January increase in holdings of U. S. Government securities was
relatively large compared with most other years.
Holdings of other securities increased $100 million further at all
commercial banks in January; they declined $100 million at weekly reporting
city banks but rose $200 million at other banks, largely late in the month.
Changes in January are generally small. Press reports indicate that banks
may have purchased newly issued municipal securities in fairly heavy volume
in January, associated in part with the sharp rise in time deposits. Delivery of such securities into bank portfolios, however, usually occurs some
time after their purchase.
Business loans at all commercial banks declined $1 billion in
January following a record $900 million increase in December. The $100
million net decline over the two months was relatively small. In the two
months ending January 1954, 1958, and 1961, the net reductions had been
$800 million or more# Only in the 1955-56 period had these loans increased
and then very slightly. In the week of January 3 there was substantial term
borrowing (around $200 million) associated with the purchase of the assets of
Republic Natural Gas Company, but even if this transaction is excluded, the
recent net decline in business loans is about the same as that of the 195859 and 1954-55 periods.
Loans to food processors, commodity dealers, and trade concerns
declined about seasonally in January accounting for about half of the total
business loan reduction at city banks. Net loan repayments by metals manufacturers, petroleum processors, and public utilities were each larger than
in any other recent year and larger than net new borrowing in December.
Loans to textile manufacturers began to increase seasonally in January and
loans to "other manufacturing and mining industries" increased further as
a result of the term lending mentioned earlier. "All other business" loans,
which had increased sharply in December, declined moderately in January,
i"®flGoting on balance, reductions in holdings of bankers' acceptances at
banks in New York City.
Security loans declined $1,2 billion in January, somewhat more than
usual, and $300 million more than the December rise. Loan repayments on
U. S. Government securities accounted for about two-thirds of the total and
were larger than net new borrowing on such securities in December. Repayments
on other security loans about offset the previous month's borrowing.
Not for publication
Loans to nonbank financial institutions declined $800 million in
January following a larger-than-usual $900 million increase in December,
In the two previous years, the early year decline had exceeded the previous
December1s rise. Real estate loans increased moderately further in January,
Consumer loans declined slightly as is usual» Agricultural loans increased
more than usual for this month reflecting expansion in CCC loans.
Deposit ratios. The ratio of total loans to total deposits at
all commercial bank;; c oclined slightly in January to $4,2 per cent from
5^*6 per cent in December. This ratio has shown little change over the
past year. The ratio of U, S, Government securities maturing within one
year to total deposits increased slightly to 10,7 per cent in December from
10,4 per cent in November, (Data for January not yet available). Banks
purchased short—term securities in December, and in addition, securities
moved into this area as a result of the passage of time. This ratio is
somewhat above its year-ago level but somewhat below its recent peak reached
around midyear.
Money supply. The daily average money supply, seasonally adjusted,
declined $1,1 billion between the second half of December and the second
half of January, following substantial growth in late 1961, At the end
of January the money supply was about 2-1/4 per cent above its year-ago
level. Over 1961, money supply increased 3-1/2 per cent, but in the last
four months of the year, growth was at an annual rate of almost 8 per cent.
Time deposits at all commercial banks, seasonally adjusted,
increased $2,2 billion in January, twice as much as in any month in I96I,
This sharp expansion was associated with increased rates paid on savings and
other time deposits by many banks. Substantial growth occurred both at
weekly reporting banks in leading cities and at other banks. At weekly
reporting banks, savings deposits and other time deposits of individuals,
partnerships, and corporations, each accounted for somewhat over two-fifths
of the month's rise and deposits of States and political subdivisions for the
remainder. At large banks in New York and Chicago, negotiable time certificates of deposit, which had begun to decline in December, dropped further
in early January when other deposits of individuals, partnerships, and corporations were increasing sharply; these certificates began to increase
substantially again in mid-January, however, and by early February were close
to their early December level.
The seasonally adjusted annual rate of demand deposit turnover at
banks outside New York and other financial centers increased to 27,4 in
January from 25#9 in December. Over the past four months ending in January,
turnover has averaged over 4-l/2 per cent above the comparable period a
year ago.
Not for publication
^Jik reserves. Total reserves and required reserves of member
banks declined somewhat in January while excess reserves rose. Member
bank borrowings from the Federal Reserve were reduced, and free reserves
increased to an average level of $535 million compared with $425 million in
December. Reserve positions were easier at central reserve city banks
m New York and Chicago in January than they had been in December when a
relatively substantial volume of net borrowed reserves had developed, but
they were little different at other banks. The effective rate on Federal
funds was generally high in early-and-mid-Januaiy, 2-3/4 - 3 per cent on
several days. Subsequently, it declined and remained relatively low through
most of late January, generally at 2 per cent or below.
During December, on a daily average basis, reserves were supplied
principally through currency inflow. They were absorbed through reductions
in float and some further decline in gold stock. Float, which had increased
to a record level in December, remained at a higher-than-usual average level
in January; by the late-Januaiy-early February-period, however, it had declined to about the normal volume. Federal Reserve holdings of U. S.
Government securities were reduced $580 million in January, all in outright
noldiii^s c
Banking Section,
Division of Research and Statistics,
Board of Governors of the Federal Reserve System*
February 16, 1962.
Not for -publication
-
L.U.3
5 -
Table 1
Estimated Changes in Loans and Investments at All Commercial Banks
(In billions of dollars)
Item
•knd of Decemberto last Wednesday of January 3?
1960
19?8"
H E
Total loans (less interbank)
-3.9
-2.6
-3.0
Business (excluding noribankfinancial
or sales finance companies) 2/
—1.6
-1.0
—0.8
Nonbank financial
-1.0 —0.8
Sales finance companies
y
(Business (including nonbank financial or sales finance companies))
57-1.8 5/°°2o6 5/-1.6
Real estate
y
+0.1
- v
Security
-0.9
-1.2
-0.9
Agricultural
+0.2 -0.1
+0.3
Consumer
=0.1
-0.2 +0.1
All other 2/
-0.2
1/
"0.3
-2.7
-0.9
-1#1
7/
-n.6
-0.2
-1.7
-1.1
y
U« S. Government securities
+0.6
Other securities
+0.1
-2.2
Total (less bank)
Item
Total loans (less interbank)
business (excluding nonbank financial
or sales finance companies) 2/
Noribank 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
I/3
+0.1
-O.lj.
-0.1
1/
* «5.6
+0.1
-5^6
-0.1
-0.2
-0.1
y
+1.1
-0.5
-0.9
~»0©2
-0.2
1/
-0.1
—0.6
-hi
-2.9
.Wr
—0*6
-l.it
—0.6
=0.3
-0.lt
7/
-0.3
•45.2
-0.3
-0.6
-0.5
•kil
+0.2
+0.1
-0.1
—0*7
1/
-0.9
-0.2 J
-0.5
•1.2
+0.3
-0.5
1/
+3.2
-0.2
-0.9
+0.9
End Of D e g m b g r
1935"
-1.1
—2.0
—1.6
y
-0.2 +0.1*
+0.1
~0 oil
+0ol
gy.
ieh:
-0.9
-2,9
M
+0.1
nd
-0.3
1/
II ^ §1 ©
#a
+0.it
O©3
+0.1
-0.3
+ia
-0.1
-0.1
+0.1
-5.2
+0.8
-0.5
+0.5
y
,
+0.1
y
-2.0
y
Total (less bank;)
=2.0 -0.2 -0.7
-1.2 -Q.5
T.
7 ^® s ® than $50 million, n.a.—Wot available! 2J Data are on revised basis' -1.9
Feeginning June 1959 and exclude loans to nonbank financial institutions. For previous
years, loans to sales finance companies at weekly reporting banks have been shown
separately, to provide roughly comparable changes in business loans on revised basis.
3y Except for 1961$ which is for December 27$ dates are for December 31. h/ Included
with nonbank financial. 5/ Not strictly comparable with previous data since all
nonbank financial are included rather than sales finance only. 6/ As a result of
structural changes, total commercial bank credit increased over UiOO million? loans
Digitized about
for FRASER
$250 million; U. S. Government security holdings about $100 millions other
http://fraser.stlouisfed.org/
securities, $50 million. 7/ Included in business and all other.
Federal Reserve Bank of St. Louis
L.U.3
Table 1
Estimated Changes in Loans and Investments at All Commercial Banks
(In billions of dollars)
Item
Last Wednesday of Nor " to find of TlPP
Z.
J2&
VH9
19%
J 2 2 L i 56u
p +3 e ::
+3.3
+2.7
+2.8
+1*7
+1,5
JL2&L
Total loans (less interiaank)
Business (excluding nonbankfinancial
or sales finance companies) %J
+0.9
+0.8
+0.8
Nonbank financial
+0.9
+1.0
+0.9
Sales finance companies
(Business (including nonbank finan- 5 / ^
5/V
cial or sales finance companies))
"(*1.8) (+1,3) (+1.7)
Real estate
+0.2
+0.2
Security
+0.9
• &
+0.8
Agricultural
+0,1
+0.1
Consumer
r +0.1
+0,2
All other 2/
r +o.l
-K).3
—0.1
+0.6
HeSle
+0.5
C+i.i)
+0.3
+0.3
n.a.
+0,6
+0,li
tl o SLo
+0.5
(+0.9)
(+0,9)
+0,3
+0.1
+0.6
+0,1
+0.1
1/
+0.8
+0.1
+0,2
^ 3
+0,1
+0.1
+0.1
U. S, Government securities
+0.3
+0.8
+o.l
-1.3
+1.3
+0«li
Other securities
+0.5
+0.6
+U»6
+0.2
+0.3
+0,5
1/
+3.il
+1.7
+3, It
+1.8
Total (less bank)
Item
Total loans (less lntert>ank)
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/
r +k«Q
j*ast Wednesday of Nov. to end of J2a
2 H
3S5C 2 2 3
.12SL
.122.
+1.8
+0.1*
+1.5
+0.1
+0.7
—0 • 8
n* a *
•0.5
tie GLO
+0.2
lioSLo
+0*2
(+0.9)
(+0.3)
(=0*6)
+0.1
+0.5
+0,2
+0.2
+0.7
+0.1
Me
+0.5
7
i 250.
+1.0
+1.0
+1.1
1/
He S,»
n * a*
n.a Q
n.a.
n*a*
n e St ©
+o,U
n
(+0.1i) (+0.6) (+0.8)
+0,1
+0,1
+0.1
+o,l
+0,lj.
+0,1
-0,2
1/
+0,1
+0,3
+0.1 =0.1 4),l
$
+0.2
1/
+0.1
+0.1
U. S, Government securities
+0.2
-1.1
-0,3
-0.8
-0.1
+0,3
Other securities
+0.1
+2.1
+0.1
+0.1
-0,1
+0,3
+0,3
+0.1
V
Total (less bank)
+0.6
+0.6
+0.2
+1.3
+1.6
1/ Less than #50 million. n.a.—Not available!
"Data are on revised basis
beginning
exclude loans to nonbank financial institutions. For previous
w
w June 1959 and
—
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/ Except for 1961, which is for December 27, dates are for December 31. h/ Included
with nonbank financial® 5/ Not strictly comparable with previous data since all
nonbank financial are included rather than sales finance only* r « Revised*
Not for publication
« 7 «
L-4.3
Table 1
Estimated Changes in Loans and Investments at All Commercial Banks
(In billions of dollars)
Year ending December
fg$al leans (less interbank)
Business Iexcluding noribankfinancial
or sales finance companies) 2/
Nonbank financial
Sales finance companies
(Business (including nonbank financial or sales finance companies))
Real estate
Security
Agricultural
Consumer
r
All other 2/
r
+6.0
+6.7
+12.5
+1.3
+3.5
+1.3
+3.0
+4.2
4/+1.2
I/+0.3
+0.5
n«a©
no
+0.1
i/
9/c+i.u: 9/(+3.0)9/(+5.7:
*1#8
+0.7
+2.8
•loO
+0.2 +0.2
- +0 e )> +0.7
1/
10*0.5
+1.7
+5.9
p+i4i
+0.6 +1.1
+1.5
-0.6
+0.3
(-0.1) (+1.8)
+2.1 +0.6
+7.6
+5.7
Ho&o
-0.2
(+5.5)
+1.7
+0.4
-0.1 -0.8
+0.2
+1.0
+1.2
+0.3
-0.3
+1.4
+0.4
=0.1
+0.9
Ut 8. Government securities
+5*5
+2.1
-7.4
+8.1
-0.3
-3.0
Other securities
+3.0
*0.4
-0.1
+2.6
+1.7
r+14.6
+9.1
+5.o
—0.4
+15.1
+4.9
+4.2
Tfttal (less bank)
Item
"B5T
flgtal loans (leas interbank)
+11.6
Business \excluding nonbank financial
a* sales finance companies) 2/
6/+5.1
Nonbank financial
Sale* finance companies
+1,3
(Business (Including nonbank finan- 6/
cial or sales finance companies))
(+6.4)
Real estate
6/+2.4
Security
+0.6
Agricultural
=0.7
Consumer
+2.3
All other %/
+0.9
Year ending December
2HS
2 5
EJT
+2.9
+3.4
+6.4
-0.2
-0.5
n.a.
n
n.a.
-0.1
-0.2
(-0.3) (-0.7)
+1.7
+1.0
+0.9
+0.2
+o.4
+1.0
3S
+5.4
+9.3
n.a.
•0.3
H • &0'
Homo
ttoSe
Hofto •
iwso
(+2.0)
(+4.o)
(+4.9)
*0.6
-0.3
+1.7
+1.1
^ 6
+0.2
+0.5
+1.9
+0.3
+1.5
7/
+1.0
+2.0
+0.2
+0.5
-0.1
+0.3
+0.9
+0.1
+1.6
Ue S e Government securities
-7.4
+5.6
+0.1
+1.8
-0.5
-5.0
Other securities
+0.4
+1.6
+10.2
+0.5
+0.8
+0.9
+2.2
+4.6
+4.1
+9.0
+5.9
+6.5
n.a.--W0t available I d/ Data are on revised basis'
eginning June 1959 and exclude loans to nonbank financial institutions. For previous
flna
£ir!«+i?!!nL
?5 e c o m p a n i ?® at weekly reporting banks have been shown
Z
______bank)
_i|c)
Total (less
billion as a result of bank structure changes§
W o o million in loans? $300 million in U«
"« S. Govt, securities? and $100 million in
other securities, 4/ July~Bec. 5/ Jan .-June For 6/ ?/> 8/ 9/, and 10/ see
9
$
reverse side.
ESSiSSSBi
y
_In Oct. 1955, the level of business loans was increased by, and that of
=*> 0 «•
i it.:
Table 2
Changes in loans and Investments at Weekly Reporting
Msafeer
and Monrepoi
( & b illians ©f do]
End of December to last Wednesday in January
Item
I
Weekly reporting banks
1962
1961
I960
1959
1958
1957
-2.7
+0.2
-0.1
=•2.5
-3.3
+0.U
+0.1
—2.5
—2.1*
-1.0
-0.1
^575
-1.7
+0.1
-0.2
7L7S>
-2.lt
-0.5
+0.1
-2.0
—0.6
—0.1
-0.3
+0.1*
+0.2
ion
—0.6
-K3.5
-0.2
+0.1
3/+0.1
3/+1.0
-0.3
-0.1
=5%
1/
Total loans
1 U. S. Government securities
Other securities
Total loans and investments
Nonr^iorting banks 1/
1 Total loans
U. S. Government securities
Other securities
Total loans and investments
*
-0.1
Ml
Mi
Mi
End of December to last Wednesday in January
Item
Weekly reporting banks
— 0.1
1956
1955
195k
1953
1952
—0.8
-0.6
—0.6
=o*5
+0.3
-1.7
+0.5
+0.1
rrn
-0.7
—0.8
+0.1
-0.7
+0.2
+0.3
+0.3
-0.1
+0.1
+0.3
-0.2
+0.3
1951
1/
^ Total loans
U. S. Government securities
Other securities
Total loans and investments
2/
-0.1
-2.2
4/
Nonreporting banks 1/
* Total loans
U. S. Government
Other securities
Total loans and investments
=0.3
—0.1
-0.2
+0.1
+0.2
+0.2
Mu
M j Beginning 19595 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. Also, call report data for December 31. 1959,
and December 31$ I960, have been used.
2/ Less than $$0 million#
3/ In January 1959s total credit increased over # 0 0 million as a result of bank
structure changes$ loans, $300 million; U. S. Government securities, $100 milliong
and other securities, $100 million.
Mot for
publication
=
L,U..
9
=
Table 2
Changes in Loans sad ImrestaaBnts at Weekly Reporting
Manner Bagaks and Sanreportiag
(in b illions of dtilsMl;
Last Wednesday in November to last Wednesday in Decembe
Item
e
1961
Weekly reporting banks
1959
1958
1957
1956
1/
Total loans
TJ. S. Government securities
Other securities
Total loans luid investments
#
I960
+2.8
•0.3
+0.5
+2.5
+0.9
+0.5
+2 ell
+0.1*
+2.0
=•0.6
40.1
+0.1
+HF
+1.3
+1.1
+0.2
+ o
+1.3
+0.5
=0.1
+CT -
+0olt
+0.2
+0.1
-0.1
Sonrewting banks 1/
#
Total loans
D, S. Government securities
Other securities
Total loans and investments
•
r *Ock
•2/
jk,
r WT5
=0,1
+0.1
^ 7
+0.3
2/
+0.1
+0.8
=0.7
+0.2
=0.1
+0.3
+0.5
i d
-•ast Wednesday in November to last Wednesday in December
Item
1955
Weekly reporting banks
+0.8
195U
1953
1951
1952
1950
1/
# Total loans
V. S. Government securities
Other securities
Total loans and investments
+1.0
+0,5
=0.1
mr
+1.0
•=>0.5
+0„1
+0ol
+0.1
+0.7
=0.6
-0.1
+1.0
+0.1*
+0.2
+1.0
+0.7
+0.2
+13
Nonreporting banks 1/
Total loans
U» S. Government
Other securities
vuwoi
ocuvuxuj-yD
Total loans and investments
^
2/
+0.8
+0.5
2/
-0.3
»0o6
=0elt
+0.2
#C7
+0.7
2/
2/
"^
%T
r
2/
2/
^ 55
^
+0.1
-0.2
2/
2/
^ 933
=
+oa
2/
-0.5
4-0
+0.1
%o3
1
=0eZj.
m 1
:o3
+0.1
. ^59-» changes are on revised basis. Changes may not correspond exactly
with Published data for weekly reporting banks because loans to foreign banks have
een excluded from this tabulation. Also Call Report data for weekly reporting
banks for December 31 s 1 9 0 , and December 31, I960, have been used.
Less than $b0 million.
Not for publication
®
Lc'Ue
10
a
=
Table 2
Change# in teans and Investments at Weekly Reporting
Maimer Bank# and Nanret
(in blliioms
Year ending December
Item
e
1961
Weekly reporting banks
%
%
I960
1959
1958
1957
1956
1/
Total loans
U. S, Government securities
Other securities
Total loans and investments
+2.7
+3.7
+2.1
7B3
+2.7
+2.5
+0.2
7^3
+7.7
-7.0
-0.1*
+0.7
+5.5
+1.1*
77%
+0.9
-0.2
+0.4
713
+5.b
-3.5
-0.7
713
+1.0 3/ +U.8
-0.it V-o.lt
+0.2 3/ +0.3
733 1/7E3
+3.6
+2.6
+1.2
773
+2.6
-0.1
+1.3
753
+2.2
+0.5
+0.3
753
lWr#mofting banks 1/ ,
£, Total loans
U. S. Government securities
Other securities
Total loans and investments
•
r +3«3
+1.8
+0.9
r7^3
Year ending December
Item
1955
Weekly reporting banks
1951
1953
1952
1951
1950
1/
0 Total loans
U. S. Government securities
Other securities
Total loans and investments
+7.1*
-6.8
-0.1
753
+0.6
+lt.l
+1.1
753
+1.1*
-0.2
+0.1
713
+1*.0
*0.3
<0.5
+H3
+3.9
-1.2
+0.3
753
+6.7
—3.8
+1.5
T O .
+U.2
-0.6
+0.8
753
+2.3
+1.5
+0.5
753
+2.0
+0.3
+0.1*
753
+2.1;
+1.5
+0.3
7IT3
+1.5
+0.7
+0.6
7?3
+2.6
-1.2"
Nonreporting banks 1/
* Total loans
U. S. Government
Other securities
Total loans and investments
eginning 1959, 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. Also, call report data for weekly reporting banks for
December 31# 1959, and December 31, I960, have been used*
2/ I»ess than $50 million®
1/ As a result of bank structure changes, total credit increased about #1 billions 8600
•
million in loansj $300 million in U, So
" Government
"
securitiesj and $100 million in
other securitieso
Wot for publication
L.U.3
Table 3
Changes in Commercial and Industrial Loans 1/5/
(In millions of dollars)
~~ ™"
Business of Borrower
Last Wednesday in December to last Wednesday in January
1961 3/ I960 3/ 1959 3/ 1958 3/
#
Food processors
Commodity dealers
Trade concerns
Total
#
-215
- 9
-303
=^5
-163
-116
- 68
2/
2/
-162
-230
- 30
-190
'3195
-316
- 15
-311
=571
-251
- 68
-233
-131*
- 31*
- 82
-11*5
- 87
—126
=338
2/
- 1*3
-l*7l*
-186
-223
+ 35
-131
+11*2
+ 87
— 86
- 19
+ 99
+ 11
* 21
- 98
- 8
+ 70
+ 1*9
- 22
- 38
+ 1
+ 5
+ 15
- 23
+ 18
+ 23
+ 1*5
+ 1*8
+ 5
+11*7
-257
- 23
- 70
- 69
- 25
- 18
- 33
- 29
« 26
- 85
- 5
+ 11
- 31
- k3
- 21
+100
- 38
+ 11
+ 78
- 10
- 12
- 1
- 38
+ 31
- 1*6
- 1*8
- 72
-108
- 93
- 70
Classified
Unclassified
-825
- 95
-732
-132
-301
-209
-607
-21*3
-1348
-303
-833
-199
-320
-106
-31*3
V-151*
Total change
-920
-86b
-513
-850
-1651
-1032
-1*26
1*/-1*97
Total change excluding
sales finance
-920
—861*
-513
-807
-1177.
1
-81*6
-203
1*/-532
Sales finance
#
—l80
- 17
-216
333
1956 3/1955
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc.
Other manufacturing
and mining
Public utilities
Construction
All other types of
business
0
^ aKtHSwKsSS?? wwswrs
-
000 certlficates of
rnxxxxon*
5/ At weekly reporting banks*
Not for publipation
interest which are estimated to have declined $85
L.U.3
•
- 12 Table 3
Changes in Commercial and Industrial Loans 1/ 5/
(In millions of dollars)
~~ ~~
Business of Borrower
Food processors
Commodity dealers
Trade concerns
Total
Sales finance
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc.
Other manufacturing
and mining
Public utilities
Construction
All other types of
business
#
£
Last Wednesday in November to last Wednesday in December
1961
1960 1959 3/ 1958 3/ 1957
1956
1955 1951* 3/
+ 92
+120
-185
TT7
V
+ 57
+ 1*9
-267
+118
rrsr
+125
-309
T35
+ 12
+ 9
-171*
333
+ 99
+ 88
-11*9
+"!$
+101*
- 78
- 7
- 1*1*
+ 11
+ 37
- 77
2/
2/
+1*38
+1*72
+516
+1*82
+183
9
+139
+102
+ 91*
+153
+11*5
- 11*
- 1*2
+168
+ 62
+ 60
+ 20
*123
+
- 19
+ 51
+ 97
+ 9
+ 57
- 26
+ 56
+ 52
+ 3
- 58
+ 2
+ 56
" 2
+133
+207
"* 6
+ 15
+118
+ lh
+ 6
+119
+ 26
- 10
+170
+ 7
- 56
+109
+ 11*
+136
- 9
-
+
8
-31
+ 5
- 13
+ 67
+ 15
+199
+ 69
+ 91*
+115
+ 77
+ 22
+ 58
- 31*
Classified
Unclassified
+713
+ 98
+120
+ 62
+113
+ 37
+671*
+ 51*
+779
- 19
+91*8
- 28
+731*
- la
+261*
— 55
Total change
+811
+182
+1*50
+728
+710
+920
+693 I/+209
Total change excluding
sales finance
+811
+182
+1*50
+290
+288
+1*01*
+211 */+ 26
8
+ 1*2
V 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 four-week basis, the following dates were used?
1959, Dec, 2-Dec. 30; 1958, Dec. 3-Dec. 31; 1957, Nov. 27-Dec. 25$ 1951*, Dec. 1-29.
h/ includes CCC certificates of interest which are estimated to have declined $7
million*
5/ At weekly reporting banks.
Not for publication
L.lu3
e
-13 Table 3
Changes in Commercial and Industrial Loans l/h/
(In millions of dollars)
™" ""
Last Wednesday in December to last Wednesday in December
1961
Food processors
Commodity dealers
Trade concerns
Total
•135
• 8
Sales finance
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc.
Other manufacturing
and mining
Public utilities
Construction
All other types of
business
1960
1959
1958
1957
1956
• 21
-171
•179
+375
•135
-136
+127
• 4
-125
-118
- 9
+520
+353
+3l*9
6/+455
-559
•258
i/
1955
1951
- 60
8
- 7
+176
• 79
-22k '•1,293
-143
+
•17551
-1*19
•397
•717
-308
•43 9 +1,291
+1401
-1,125
- 64
- 44
• 58
• 7
+160
+ 86
-118
-151
- 12
+441
+232
+852
+291
+521
+ 29
+ 78
•168
- 50
•106
•325
• 13
•131
+21it
+339
+116
+ 36
+ 53
• 57 i +696
+106
• 61
+441
+715
- 12
+216
+411
+240
- 63
- 99
+153
•833
+464
•114
+431
+325
+513
+238
Classified
Unclassified
•1,028
' —283
•1,592
-115
•3,188
+ 10
-5a
-377
+1,565
-612
Total change
+745
+1,177
+3,198
-921
+953
Total change excluding
sales finance
+715
+1,177
+2,71(3
-362
+695 . •1,926 €,991
1/ Prior to week ending January 11, 1956, includes
5/ Includes CCC certificates of interest which are
"™ million •
3/ Includes CCC certificates of interest which are
—
million.
V At weekly reporting banks.
3/ Not included in business loans on revised basis
%/ Through July 1, 1959*
Not for publication
•
3
•i4.jf.8JU3 +4,307
-684
-litl _
3/-273
6/
+1,702 +4,284 3/-957
3/-814
changes in agricultural loans.
estimated to have declined $821
estimated to have increased $411
after July 1, 1959*
- 14 -
L. It. 3
Table It
Estimated Changes in Deposits and Currency
(In billions of dollars)
Item
1962
Las
Seasonally adjusted data 1/
Demand deposit component
Currency component
Total
-1.1
&
- 1 . 9
+1.3
+ 0 . 3
+0.2
=13
Seasonally unadjusted data 2/
Demand deposits adjusted ™"
Currency outside banks
Total
Time deposits
Commercial banks
Mutual savings banks
U. S. Government deposits
Total
+H5
- 3 . 3
-0.lt
- 0 . 7
-l.it
=E3
-0.3
+0.1
= 0
= 1 3
+ 2 . 5
+ 0 . 5
+0.1
+0.2
-1*1*
- 2 . 6
-0.3
+0.3
-0.3
+0.1
+$3
-0.1
-i.lt
-1.5
= 0 .
-1.1
-0.8
-j(h
=KT
= o r
+0.8
+0.1
= 0
=K7
-2.2
=23
+0.1
-3.8
=33
+0.1
-3.0
= o
+0.2
+0.2
=C?
+0.6
+0.1
+0.1*
-0.6
+0.9
+0.1
-2.2
=C2
-0.9
-0.1
-0.1
-0.7
-0.1t
-0.1
+0.1
2/
y
„
-0.lt
+0.1
=83
^53
r2.7
-1.9
-0.9
=23
+0.7
-0.1
-1.7
+0.2
—1.0
=53
=37?
+0.7
+o *k
=CT
—1.8
+o.i
+o3
-0.2
(signs indicate
Factors affecting deposits and
currency
Bank loans and investments
other than U. S. Govt. sec. It/
—
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
Averages of daily figures.
+0.5
last Wednesday of December to last Wednesday of Jan.'"6/
Seasonally adjusted data 2/
Demand deposits adjusted
Currency outside banks
Total
y
1961 | i960 I 1959 $/
1958
1957
half of December to last lalf oi January'
+0.2
+0.1
—2.0
=53
=G3
s and currency)
-2.1
- 2 , 5
- 2 . 2
= 1 3
= K T
= 2 3
-o.i
+0.4
+0.2
+0.3
-0*9
- 1 . 5
+1.1
-2.lt
=13
- 0 . 5
3/
- 0 . 9
- 0 . 1
3 /
-0,1
+0.1
+0.3
- o . 5
* 0 . 7
•0.3
xeiov
„eunesQav
throughout; unadjusted data are for last Wednesday except in case of June and December
call dates, when available. 3/ Less than $50 million, it/ 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
6/ December 31 except
for December 27, 1961,
#300 million.
L. it# 3
i.;)
Table it
Estimated Changes in Deposits and Currency
(In billions of dollars)
0
Item
Seasonally
adjusted
^
mo vcu data
V4<* Uflii/
JL/
Demand deposit component
Currency component
Total
#
adjusted data 2/
wand leposits adjusted
Currency outside banks
Total
Seasonally unadjusted data 2/
Demand deposits adjusted ™"
Currency outside banks
Total
Time deposits
Conneroial banks
Mutual savings banks
fl§ 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
1961
I960
1959 1 1958 I 1957 1 1956
Last half of Jovember to last half of December
+1,7
+0.1
713
+0.6
-0.6
+0.&
-0.1
1
+0.2
+0.1
Last Wednesday of November to last Wednesday of Dec«
•1.3
*0.1
+0.1i
5/+0.2
U
" -0.1
+0.2
•3.7
+3.2
+0.7
5/+2.3
+0.3
+0.8
+1.8
+0.Ji
•0.8
+0ok
+0.6
5AB3
+1.5
•+HT
+0.3
+0.7
40.1
+0.1
+3.6
-0.1
+0.1
+0.1
-0.1
-0.1
-0.2
+3.1
+3.1
+0.3
+1.5
+1.5
+1.3
+0.5
+0.1i
5MT7
-i.k
+5TB
+1.0
+0.ii
-1.2
"+*•
(signs indicate effect on deposita and currency)
+3.9
+iu5
+3.7
+3.7
•3<6
+3.8
+0.2
*0.1
+2.9
+3.1
+0.2
+0.1
+0.5
+0.i*
-0.8
+2.0
*0oh
—1*3
3/
+1.3
+0.2
+0.5
+0.3
-0.2
-0.1
+1.3
3 d
+0.8
—0.1
-0.1
+1.2
-0.1
+0.1
+0.5
-0.1
+1.0
+2.7
+2.0
+2.2
+1.3
I
-0.1
—0.1
+0.7
•0.1
+1.0
»et
+0.&
3/
40.1
40.it
I
##3SslSrHfS^
some lack of synchronization in reporting asset and liability items
used in computing loans net. 5/ In December 1959, as a result of the "redefinition
or gross demand deposits, demand deposits adjusted were reduced by $l£>0 million.
Not for publication
JU.
^ 1c •*
J
Table k
Estimated Changes in Deposits and Currency
(In billions of dollars)
Item
1961
last hal
Seasonally adjusted data 1/
Demand deposit component
Currency component
Total
Seasonally adjusted data 2/
Demand deposits adjusted
Currency outside banks
Total
Seasonally unadjusted data 2/
Demand deposits adjusted ~
Currency outside banks
Total
Time deposita
Commercial broke
Mutual savings banks
U. St Government deposits
Total
I960
1958
1929 5/
1956
1957
of December to last hall' or December
*h»h
-i.i
*53
= 0
+0.1
f0.3
+0.3
703
+5.1
+0.3
-1.1
7
+lelt
+0.5
713
last Wednesday of Dec, to last Wednesday or becemper
6/+5.1
~ +0.5
-loO
6/%33
6/+U.8
+1.3
+0.1
+T7H
-0.3
-0.1
—0.1
+0.7
3/+12.2
+6.7
703
+3.5
" +2.1
+1.1
+0.9
"* -0.1
6/^7
6/+10.3
+0.3
6/+I773
7^7
+0.9
+0.9
7^0
+1.9
+0.3
—1.3
+0.it
+5.2
-1.1
7%2
+0.1t
7^7
+9.2
+1.0
£
+1.5
+0.1
713
+6.9
+3.8
773
7^3
753
+2.3
+0.3
+1.7
+1.9
+0.2
7^9
(signs indicate effeot on deposits and currency)
Factors affecting deposits and
currency
Bank loans and investments
other than U. S. Govt. sec. k/
+10.7
™W
Commercial
*~
Mutual savings
+2.2
Bank holdings of U. S. Govt,
securities:
+6.9
Federal Reserve
+X77
Commercial
+5.5
Mutual saving and other
-0*3
Gold stock and foreign
deposits at F. R. Banks
Other factors
6/+O06
+9.1
+2.2
+lli.O
+T575
+1.6
+9.8
+2.3
+9.8
-1.8
+9.1
—0.3
—0.8
—3.0
-0.7
-2.2
+0.8
-0.6
-1.2
+2.0
-7.7
+2.1
-7.it
—0.6
-o.it
—1.6
-1.1
-0.2
—2.2
707T
—0.8
-2.6
+9.9
773
+2.8
7ZTT
773
+2.5
-3.6
ion:
+0.3
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, k/ 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." 5/ In January, April, and August 1959, as a result
of bank structure changes, demanH deposits adjusted at commercial banks indreased
SiiOO million, time deposits at commercial banks $700 million, and time deposits at
mutual savings banks declined $300 million. In December 1959, as a result of the
redefinition of gross demand deposits, demand deposits adjusted were reduced by
$ii00 million. 6/ Due to reclassification of deposits of foreign official insti-
6/ Continued
^utions in May 1961, demand deposits adjusted were increased by about SitOO
million and time deposits by about $1*2 billion; deposits of banks were
reduced by about $1.9 billion.
- 17 Table 5
Negotiable Time Certificates of Deposit as
Reported by Selected Large Banks in
New York and Chicago 1/
(In millions of dollars)
New York
Date 2/
1961:
April 19
26
May
June
July
Aug.
Sept.
400
463
3
10
17
24
31
7
14
21
28
Date 2/
i
j
565
593
599
613
632
644
660
709
79 2
|
5
872
12
19
26
890
979
999
2
9
16
23
30
1,004
1,009
1,027
1,036
1,052
6
13
20
27
1,061
1,097
1,079
1,073
1961!
Oct.
Nov.
Dec.
1962:
Jan.
4
11
18
25
1
8
15
22
29
i
New York
Chicago
1,139
1,150
1,146
1,160
256
255
268
267
1,149
1,154
1,152
.1,163
1,166
248
248
259
264
262
i
I1
I
6
13
20
27
1,142
1,094
1,043
1,004
3
960
952
978
1017
244
243
1052
270
10
17
24
31
267
254
252
267
1/
Reported by 9 banks in New York and 5 banks in Chicago; prior to
September 8, 1961, 10 banks in New York reported but on that date
2 reporting banks merged,
2/
Data first reported as of April 19, 1961, for banks in New York
and October 4, 1961, for banks in Chicago.
Not for publication
L«U»3
18
Table 6
Ratios to Total Deposits
u.s. Govt, securities maturing
within one year
L O A N S
Date
#
#
#
All commercial
banks
Total
Member banks
Central reserve city keserve
Mew York | Chicago
city
1946;
1947:
1948:
1949:
1950:
1951:
1952:
1953:
1954:
1955:
1956:
1957:
1958:
1959:
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
31
31
31
31
31
31
31
31
31
31
31
31
31
31
23.3
27.7
31.2
31.1
35.8
37.2
39.3
40.5
40.3
45.8
48.8
49.7
48.4
54.0
23.7
28.2
31.3
30.9
36.1
37.6
39.9
41.1
40.7
46.7
50.1
51.0
49.4
55.6
27.
31.
35.
34.
42,
46,
50,
50,
46.8
56
61
61
57.7
67.3
i960:
June 29
July 27
Aug. 31
Sept. 28
Oct. 26
Nov. 30
Dec. 31
57.1
56.2
56.6
56.3
55.3
55.4
55.1
58.5
57.5
58.0
57.6
56.7
56.8
56.5
67.4
66.9
67.7
Jan. 25
Mar. 1
Mar. 29
Apr. 26
May 31
June 30r
July 26
Aug. 31
Sept. 27r
Oct. 25rp
Nov. 29rp
Dec. 27rp
54.5
55.5
55.8
55.6
55.8
55.7
54.8
55.1
54.7
54.3
54.7
54.6
55.8
5608
57.2
56.9
56.9
5606
55.7
56.1
55.7
55.3
55.7
55.6
Jan. 31p
5U.2
55.3
#
1961:
#
•
1962:
1/
66.0
65.5
5/66.0
27.3
30.3
30.4
25.6
32
36
38
39
38
46
52
55.2
49.4
26.0
31.1
33.4
32.4
38.1
39.4
41.1
42.2
41.9
48.5
52.7
53.3
51.3
58.2
58.2
63.2
61,9
60.5
61.7
61.1
61.4
61.4
60.3
65.9
60.8
62
58.8
62.0
61.0
60.6
59.4
59.7
59.0
63.
5606
63.
65.
57.9
57.7
58.1
63.0
58.8
4/59.7
^60.2
59.5
59.3
58.9
58.0
58:6
57.9
57.7
58.3
57.9
56.8
57.7
65
65
65
65
64
62.0
62.8
62,
64.7
62.1
58.3
57.1
54.8
57.1
AIT
Country
18.9
23.4
27.1
28.5
31.5
32.1
33.9
36.1
37.1
40.7
42.6
44.1
44.4
48.2
f
commercial
banks
14.3
14.0
14.2
19.2
15.2
9.8
11.7
16.9
10.0
5.1
7.5
8.4
8.3
6.7
51.7
51.1
51.6
51.5
50.6
2/50.4
50.3
4.1
5.2
5.4
6.4
7.7
50.1
50.5
5/51.0
8.5
8.9
51.0
8.1
8.1
8.1
9.3
9.8
51.6
51.8
51.3
51.3
50.7
50.2
50.5
50.3
11.4
10.4
10.7
50.1
n.a.
10.8
12.2
11.4
11.8
Total loans '^adjusted to exclude loans to banks) 5 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 21.3 and 19.1 respectively.
Data not strictly comparable
.
with previous figures as one large country bank merged with a central reserve city bank.
V
Includes merger with nonmeraber. 5/ Reserve city banks reclassified as country
banks.
P - preliminary. n„a. - Not available, r - Revised.
L»lu3
19
Table 7
Free Reserves and Total Reserves Held
(Based on averages of daily figures; in millions of dollars)
Free reserves
(excess reserves minus borrowings)
Date
" A i r - Central reserve city Reserve
Country
member Mew York J Chicago
city
Monthly averages:
1958:
1959:
Dec,
Dec.
I960:
Aug,
Sept.
Oct, 2/
Nov.
Dec. 2/
1961:
1962:
Total reserves
held seasonally
adjusted
l/
TIT
member
•
- 41
-424
- 80
-109
- 32
-104
-197
.449
268
237
18,494
18,540
247
4l4
480
614
- 27
— 2
- 38
• 5
- 62
- 44
34
38
80
375
466
475
546
583
18,518
18,731
18,842
19.nn?
89
10
35
39
18
66
56
44
50
8
13
24
583
510
431
467
451
438
467
484
499
446
494
471
17
476
19,804
26
1*35
n •cio
571
654
1
88!
21
546
498
417
n«a«
n* ci«
n*&*
n.a*
n • si •
9
2
•
669 j
10
• 4
. 4
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec,
695
517
476
562
453
549
530
537
553
441 I
509
424
26
26
29
- 50
Jan. p
536 ]
41
9
60
1
4
5
5
- 22
40
7
7
2
12
14
1
2
24
13
22
2
-
18,88?
c
c
19,048
19,175
19,018
18,979
18,989
19,099
19,025
19,242
19,411
19,640
19.79?
19,704
Weekly averages:
1961:
Dec, 27
31a
|
- 65
1962:
Jan,
384
545
535
656
470
!
-180
3
10
17P
24p
51p
I
64
|
1
'
59
36
1
i
1
- 34
5
- 1 3
10
- 3
hOI 138
°U
^19^ve°^ceXfbe"^sfdSeCtl°n'
slightly; see January 1 9 6 2 Bulletin or Supplement to Banking and Monetary Statistic*.
20
L.lt.3
Table 8
Changes in Member Bank Reserves, with Relevant Factors
(Monthly average of daily figures; in millions of dollars)
December
January
Item
1962
1*/
Jan.-Dec. 3/ J /
1961
1961
- 70
+ 1*3
+316
+267
+1,018
+ 77
- 70
+ h3
+316
+ 1*1
+226 +1,018
+ 5
+ 72
+ 33
- 13
- 39
+ 12
-183
+271*
- 37
+ 32
+277
+279
+835
+351
+ 27
- 61*
+ 5
+ 27
+200
+ 77
-1,050
+1,329
+263
+572
+2,291
-1,91*0
+100
+161
|c - 88
-120
+817
+31*7
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
(signs indicate effect on reserves)
Principal factors
Currency in circulation
Gold stock and foreign
accounts
Treasury operations
Federal Reserve float h/
Other factors k/
+663
+751*
-697
-51*5
-931*
-21*3
- 81
+ 79
-111*
+ 25
-376
+ 1*3
-231*
+181*
-222
- 37
+51*1*
-ill -1,001*
+185
- 58
+509
+256
+168
-155
-1,1*17
+ 71*
+21*1*
+ 11*
Effect of above
factors on reserves
+572
+371
-1*56
-360 -1,329
-1,328
-636 ! —3l*l
+532
-690
+1,901
-613
-306
=353
+1*82
-623
-=m
+1,850
2
1
- 1*7
+ 5
-251
- 1*1
- 7
- 38
+ 2
+ 1*1*
+ 1
55
+ 62
- 1*
- 1*1*
I
Federal Reserve loans and
investments:
Total
U. S. Govt* securities
Outright
Repurchase agreements
Acceptances
Discounts and advances:
To member banks
To others
-579
+
+
1*
2
- 79
+ 20
+
+
12
+212
TTff
+ 35
- 8
-819
+ 2
1/ Preliminary for January 1962.
3/ Computed on daily averages for December. I*/ Beginning January I960, data are on
new basis excluding collected funds. 5/ Reserve data for some months in I960 have
recently been rpvisedj see January 196? Bulletin or Supplement to Banking and
Monetary Statistics, c - Corrected*
a»
21 •*
Table
L.Ii.3
9
Liquid Assets Held by the Public — Seasonally Adjusted Series
(Amounts in billions of dollars; ratios expressed as percentages)
Demand
Personal-type savings
U. S. Govt
Total
deposits
Total
u.
s.
securities
Savings
adjusted personal- Time deposits
liquid
maturing
Govt,
adjusted 1/
and
type
and
assets
savings within one
loan
currency savings Commer- Mutual
(2+3+8)
shares bonds
year $J
cial savings
outside (ii+5+6+7)
banks banks 2/
3/
banks 1L
T ~
J.
28.2
" T O 55-7
23.0
129.0 1 5 7 T
271.8 7 1 o r
31.1
16.1
55.2
23.6
120.2
37.8
132.7
284.0
31.5
•19.2
55.6
40.6
25.2
140.6
296.2 124.1
2
2
.
8
33.1
26.7
148.6
55.5
4
3
.
6
126.6
308.3
29.9
27.2
55.6
46.8
28.5
158.1
130.0
318.0
30.4
32.0
30.0
166.4
55-9
48.5
133.5
330.3
54.8
31.3
31.6
37.0
174.1
50.7
134.5
339.9
41.7
35.3
51.7
56.4
182.8
33.0
133.6
351.7
33.4
50.5
47.7
63.4
35.1
196.7
138.8
368.9
44.1
48.0
66.2
54.3
204.4
140.2
35.9
388.7
End of
year or
month
1950
1951
1952
1955
1954
1955
1956
1957
1958
1959
"
1960
July
Aug.
Sept.
Oct.
Nov.
Dec.
388.8
Jan.
Feb.
Max.
Apr.
140.7
398.1
400.8
139.4
140.4
403.9
406.8
,141.5
408.1 2/140.8
140.9
413.2
414.4
141.5
414.4
141.3
14] .9
417.2
143.8
420.9
420.6
143.4
424.8, 144.8
390.3
392.7
394.0
393.7
396.0
1961
May
June r
July
r
Sept.
Oct.
Nov.
r
http://fraser.stlouisfed.org/
Dec.
#
Federal Reserve Bank of St. Louis
138.6
138.6
138.5
139.9
138.8
139.2
209.2
211.0
212.6
67.5
216.0
71.1
71.7
214.2
217.7
68.6
69.3
70.0
72.2
219-3
221.4
73.7
74.1
222.7
224.0
74.8
227.5 Z/77.4
229.6 78.4
231.1
79.0
79.8
232.7
80.6
234.6
81.4
236.3
82.5
238.4
jmiL
82.fr
36.4
36.4
36.6
36.8
36.9
37.1
58.3
59.1
59.7
*0.5
37.3
37.3
37.5
37.6
37.7
38.1
38.3
38.3
62.6
38.6
38.7
38.9
J2iL
€1.1
61.8
63.2
63.9
64.5
65.2
65.9
66.5
67.3
68.0
68.9
69.7
47.0
46.9
47.0
46.9
46.9
47.1
47.2
47.2
47.2
47.1
47.2
47.2
47.3
47.3
47.4
47.3
47.3
4*7^6
Ratio:
Ratio:
Commercial Commercial
Total
bank demand bank deposits
liquid
and time de+ currency to assets to
posits adj.
gross
total liquid
and currency
national
assets
(2 + h)
product 6/
{9 + 1)
T3KT
158.0
164.7
170.2
176.8
182.0
185.2
190.0
202.2
206.4
41.0
40.7
41.6
39.9
38.9
39.1
206.1
207.2
207.8
38.1
212.9
213.1
214.5
216.3
40.0
40.8
41.3
39.8
42.7
41.8
40.4
40.7
40.8
38.8
40.fr
209.9
209.9
210.9
218.2
219.3
220.5
221.1
222.5
225.2
225.9
227.fr
10
353"
55.6
55.6
55.2
55.6
55.1
54.5
54.0
54.8
53.1
53.0
53.1
52.9
53.3
53.3
53.3
53.5
53.2
53.1
53.2
53-5
53.1
53.2
53.4
53.3
53.5
53 7
53.5+
11
-&7T
83.3
82.2
85.1
85.3
80.7
78.8
79.3
79.4
79.5
77.2
78.1
79.8
79.1
78.9
77.6
p
l/
2j
j/
4/
5/
6/
2/
Preliminary.
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 $1 when
call data for these dates were available. Demand deposits adjusted are total demand
deposits less interbank and TJ. S e 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.
Includes savings deposits in the Postal Savings System.
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.
Includes all types of savings bonds held by 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.
Gross national product estimates are available quarterly and annually only. For 195058 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.
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
= 22 -
Table 10
Demand Deposits, Currency t and Related Items
(Averages of daily figures. In billions of dollars)
Money Supply
Seasonally adjusted
CurDemand
Total
rency deposits
Period
1954—Dec«
1955—Dec.
1956—Dec.
1957—Dec.
*1958—Dec.
1959—Dec.
(2)
(2)
(2)
(2)
(2)
(2)
132.0
134.7
136.6
135.5
140.9
141.5
"196O---Nov»
1961——Jan.
(1)
(2)
(1)
(2)
(1)
Feb.
(2)
(1)
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
143.3
143.1
144*2
A
#
.
#
'
Dec.
Mar.
Apr.
May
*
W
June
July
Aug.
^
Sept.
Oct.
Nov.
0
Dec.
I962-—Jan.
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(2)
144.5
143.7
144.4
145.5
144*9
144.4
Related deposits-all commercial banks
Without seasonal adjustment
Gross
U* S* Govt, demand
Time
104.6
106.9
108.3
107.2
112.3
112.6
48.7
50.1
52.0
57.3
65.3
6?.2
4.6
3.5
3.5
3.7
4.0
5.2
111.6
110.9
111.4
111.5
111.3
28.9
112.0
29.0
112.4
28.9
112.1
28.9
112.1
29.0
29.0 i: 113.0
112.8
29.0
29.O
113.2
29.0
113.0
28,9
113.0
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
5.8
5.8
4.1
5.2
27.4
27.8
28,3
28.3
28.6
28.9
29,0
29.0
28.9
29.0
28.9
29.O
29.0
29.0
29,0
29.0
113.5
112.9
113.1
112.9
112.8
112.8
29.2
113.6
29.2
29.4
29.3
29.4
29.5
29.4
29*6
114.1
29,6
29-6
113.8
114.9
115.1
114.2
r.4,9
' •:>. 9
115.3-
114.8
80.5
80.8
81.2
81.5
81.9
82.1
o2.t:
81.9
82.1
82,4
83.4
84.5
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
5.9
6.9
6.1
5.3
6.3
4.3
5,5
U
3.4
jfOTE: Demand deposits are those other than domestic commercial interbank and U, S. Government, less 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
- 23 Table 11
Deposits and Currency
(in billions of dollars)
Year
or
month
(1)
(3)
(2)
Seasonally adjusted
money supply 1/
(U)
Seasonally
adjusted
money
Cursupply and
Demand
rency
Total
time dep.
deposits
outside
(2+3)
at comm.
adjusted
banks
banks(1+7)
(5)
(6)
(7)
(8)
(9)
(10)
(11)
(12)
Total
deposits
Curu. s.
and
rency
Govt,
currency
outside
deposits
Commer- Mutual Postal
banks (5+6+10
2/
savings savings
cial
+11)
Time deposits
Demand
deposits
adjusted
ii
-
End of Dee.
214.8
46.8
2.1
106.6
26.3
5.1
27.9
176.8
26.9
105.1
130.0
75.3
1954
221.0
4.4
48.4
28.1
28.3
1.9
78.4
106.1
181.9
109.9
27.4
133.5
1955
226.4
1.6
28.3
111.4
82.2
30.0
50.6
4.5
185.1
107.1
27.4
134.5
1956
28.3
232.5
56.1
4.7
110.3
89.1
1.3
31.7
105.8
27.8
189.7
133.6
1957
28.7
1.1
247.5
202.0
4.9
34.0
28.1
63.2
110.7
98.3
138.8
U5.5
1958
252.4
29.4
101.8
206.1
5.8
112.0
28.2
115.4
140.2
0.9
65.9
34.9
1959 V
1960s
251.8
0.8
8.2
106.0
28.3
Sept. 28
69.4
28.2
109.3
110.3
35.8
207.9
i 138.5
254.0
0.8
28.3
Oct. 26
28.4
112.2
106.7
6.7
70.0
111.5
209,9
35.9
i 139.9
6.1
0.8
28.7
208.8
253.5
70.0
Nov. 30
110.6
28.2
111.9
106.7
i 138.8
35.9
0.8
29.4
259.6
210.6
Dec. 31
111.0
28.2
108.5
115.1
6.7
71.4
36.3
1 139.2
1961:
28.0
4.1
0.8
28.4
212.4
Jan. 25
255.7
109.0
140.7
112.3
114.7
36.5
71.7
28.2
256.O
110.6
Mar.
36.6
1
6.5
110.9
110.7
0.7
28.5
212.7
139.4
73.3
28.0
255.I
Mar. 29
214.6
110.3
140.4
112.1
4.9
111.9
74.2
0.7
28.3
37.0
2.8
Apr. 26
257.0
28.2
216.5
U
3
.
6
112.7
0.7
27.9
141.5
36.9
75.0
113.3
28.4
4/260.1
May
4/110.6
4/112.3
4/218.7
0.7
4/115.7 4/77.9
bd.40.8
28.5
37.0
31
5.5
264.0
June 30
29.4
220.0
28.2
7.0
: 140.9
110.5
117.1
0.7
112.7
79.1
37.3
6.4
28.4
July 26p : 141.5
265.5
221.0
113.0
0.7
113.2
28.3
117.7
79.5
37.5
264.8
Aug. 30p ; 141.3
6.2
80.2
28.5
118.6
113.0
28.3
111.5
0.7
221.5
37.6
1
Sept. 27pr : l4l.9
28.
6
80.
8
269.3
112.4
119.4
113.4
8.9
28. 5
0.7
222.7
37.9
Oct. 25P
81.4
28.8
120.0
28.7
270.7
143.8
6.3
115.0
225.2
115.7
37.9 ! 0.7
Nov. 29P
6.2
29.1
114.8
28.6
81,2
224.6
116.2
271.3
3 8 . 0 i 0.7
143.4
119.9
Dec. 27P
144.8
276.9
116.1
120.8
81.7
38.4 • 0.7
7.0
29.3
28.7
226.5
119.9
1962:
28.6
274.1
84.2; 38.5 i 0.6
116.6
5.6
Jan. 31P
114.2
29.0
227.4
143.2
123.3
p Preliminary. 1/ Seasonally adjusted series begins in 1$46 and is available only for last 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 3 asending the deftniti-s of such deposits. Q& balance in 195?• as &
of s true-tare changes, iee&nd deposits sdjuried increased $400 million* time deposits at commercial banks
increased $700 million, and time deposits at mutual savings banks declined $300 million. 4/ Demand deposits adDigitized justed
for FRASERincreased $400 million and time deposits at commercial banks increased $1.5 billion due to the reclassificahttp://fraser.stlouisfed.org/
tion ^ deposits ^ foreign c y t r a l banks^
^
^
^
^
^
^
Federal Reserve Bank of St. Louis
Table 1
Loans and Investments at All Commercial Banks
(in billions of dollars)
Date
1954 s
1955:
1956s
1957:
1958s
1959:
Dec,
Dec,
Dec.
Dec.
Dec.
June
Dec.
1960s
1961:
Loans
and
investments
31
3.7
160,3
31
164.5
31
169,3
31
184,4
31
2' f : Lo 184,2
21:..-) 184.2
189.5
31 1/
Aug. 51
Sept. 28
Oct, 26
Nov.
30
Dec. 31
Jan.
Mar.
189,0
; 191.4
|
i 195.8
! 195.9
i: 198.5
1 195.6
197.0
195.6
U. S.
Other
Govt,
secur- Total
securities loans
ities
69.0 T 6 7 T
7074
61.6
: 58.6
; 58.2
66.4
! 60.9
: 60.9
: 58.9
56.6
57.7
: 60.4
60.2
:61.0 .
16.7
16.3
17.9
20.6
20.6
20.6
20.5
82.0
89.7
93.2
97.5,
20,0
20,2
20.4
20,3
20.9
. j.i ,.0
1113.4
$ 116.7
Nonbank
financial
Busi- Real Secur- Farm
ConAll
instituness estate ity
sumer
other
tions
16.4
26.9
4.5
, 5.2
10.9
T T
20.8 5.0
35-2
4.5
13.2
6.5
58.7
22.5
4,2
4.3
14.6
6.9
40.5'
4.2
23.1
4.1
15.8
7.2
40.4
25.3
4.7 ; 5.0
15.9
8.2
26.9
4.1 ! 5.0
'•2.5
8.8
17.5
4.1 : 5.0
26.9
37.8
17.5
7.6
5.9
40.2
28.1 4.9
5.0 ! 18.8 7.1
8.1
41.2
41.8
41.8
42.3
43.1
28.5
28.6
28.7
28.7
28.7
4.4
4.2
4.0
5-1
j*C0
5.7
5-7
5.7
20.3
, 20.4
! 20.4
I
20.5
! 20.6
I
I 20.4
6.8
8.2
6.7
8.3
7.1
8.4
8.7
6.2
6.1
8.2
1112.8
5.Q
41,5
4.2
28.7
6.1
8-5
'114.4
41.8
28.7
4.5
21.2 6.2
8.4
2?
'114.2
42.8
59.7
28.8 4.0
6.0 ' 21.1
8.1
5-9
! 197.2
60.7
21.8 114.7
42.4
28,8 4.7
6.1
21,0
8.4
5.8
W-99>2
61.5
21.9
115.8
42.3
29.0 4.8
6.0 ; 21,1
6.0
$-9
?
••une :'0
200.9
61.8 22.1 . 117.0 42.8
6.0 i 21.2
29.3
6.0
M
9.2
'•n],y
?6
: 203.3
64.7
22.3
116.3
42.3
6.0
29.5
5.1
21.2
9.0
5.7
'•0
203.0
64.2
22.5
II6.3
42.5
4.6
29.7
5.8 : 21.2
9.1
5.9
27 r
66.1
207,5
118,1
25.3
45.0
29.8 5.1
21.0 6.4
5.8
9-4
TV'
66.6 23.2 118.5 43.1
: 208.3
30.1 5.3
21.0 6.1
5-9
9.5
209.1
66.2 23.4
119.5
43,5
6.0
30.3
5.2
21,0
6.3
9.7
213.1
66.5 25.9 122.7 44.4 30.5 6,1
6.1
r 21.1
7.2
9.8
210,9
24.0
67.I
119.7
43.4
'50.6
6,4
2] .0 6.4
4.9
9.5
p - Preliminary. 1/ Structure changes in 19 59- on balance tnr-ugh August, added almost *1 billion to
total credit- $600 million in loans5 $300 mill ion in U
Government securities- .nd $100 million
m other securities, Real estate loans increased about S300 million) business loans $100 million;
consumer loans» $100 million? and other loans 2?4.00 million. 2/ Increase of $200 million due to
reclassification of foreign interbank loans into other lo^rn. Total l e n s are also affected by this
c-<ime amount. HOPE; Data exclude interbank loans. Total .ins are af" or and types of loans before
deductions for valuation reserves. Consumer and "other loins" are partly estimated for all dates.
Other data are partly estimated on all but June and December call dates. Beginning June 24, 19591
business loans ' and "all other loans" have been revised to exclude loans to nonbank financial
institutions. Consumer and "all other" leans revised in accordance with revision in consumer credit
http://fraser.stlouisfed.org/
s^tistics. fpta revised#Ln accordar#e with September 27 c a t report, •
#
•
Federal Reserve Bank of St. Louis
25
1
6I.9
61.3
20.9
21.3
21.7
@FedFRASER