Full text of L.4.3 Banking and Monetary Developments : February 21, 1973

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February 21, 1973

L.4.3
Not for Publication

,<




BANKING AND MONETARY DEVELOPMENTS
January 1973

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

p

TABLE 1
Changes in Commercial Bank Credit, Money Stock,
and Time Deposits

Seasonally adjusted annual rates (per cent)
1970 1971 1
1972
1969
•' list
4 th
2nd
Half
Year
Year Year J Year
Half
Otr,

1

Jan. p

2.9

8.4

11.4

14.1

13.1

14.2

14.1

20.4

U.S. Gov't, sec.

-15.7

12.6

4.7

2.1

8.2

-3,8

- -

-1.9

Other securities

-0.3

20.6

20.7

10.6

11.7

9.0

8.1

10.4

8.2

4.5

12.5

17.4

14.4

19.1

18.4

26.8

10.2

3.7

5.4

12.2

9.7

13.9

14.4

36.3

Real estate loans

8.3

3.6

13.7

19.5

19,4

17 .9

17.6

17.3

Consumer loans 3/

10.0

5.3

12.7

16 .7

13.3

19.0

19.0

17.0

^Total bank credit

^

1973

Loans
Business loans

':

Adjusted for loan sales to bank a ffiliates
Total bank credit
0

3.9

8.1

11.3

14.0

12.8

14.2 . 14.4

20.3

9.7

4.1

9.9

17.3

14.0

19.2

18.7

26.6

12.9

3.1

4.8

12 .1

9.4

14.1

15.2

35.8

3 .6

6.0

6.6

8.3

7.7

8.5

8.6

-0.5

-4.8

17.9

18.2

15.5

15 .4

14.5

14.4

16.1

.Time other than CD's

1.4

11.1

16.7

13.3

13.7

12.1

11.6

13.4

CD's (Dollar change
in billions)
;

-12.4

14.4

7.7

10.1

4.4

5.7

3.3

1.2

Loans
Business loans

0Money stock
Total time deposits

#

! il Beginning June 1972, business loans were reduced by $400 million as a result
of loan reclassifications at one large bank. Changes have been adjusted to take account
of this reclassification.
2/ Includes $800 million system matched sale-purchase transac tions outstanding on
September 27.
November"29 UdeS $ 3 ° ° m i l l i o n s y s t e m m a t c h e d sale-purchase transactions outstanding on
Note: Deposit data revised to conform with money supply.



'

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

J968—Dec. 31
1969—Dec. 31 2/
1970—Dec. 31
1971—June 30 (old)
(new) 4/
July 28
Aug. 25
Sept. 29
Oct. 27
Nov. 24
Dec. 31

Total

Loans
(In

390.6/
402.1
435.9
461.1

b i 1 11 o n s
258.2
279.4
292.0

U.S. Gov't.
securities
of

d o l l a r s
61.0
51.5
58.0

Other
securities

,)
71.4
71.2
85.9

463.7
468.4
472 .4
477.2
479.8
485.7

302 .4
301.7
304.1
309.7
313.0
317.0
318.7
320.6

61.6
60.9
59.9
59.1
58.8
60.7

95.9
96.6
98.0
97.8
99.5
101.1
102.2
104.5

1972—Jan. 26
Feb. 23
Mar. 29
Apr. 26
May 31
June 30
July 26
Aug. 30
Sept.27
Oct. 25
Nov. 29
Dec. 31

491.4
496.6
505.0
507 .4
516.1
517.5
521.9
529.8
535.3 5/
540.4 /
549.4554.2

325.7
328.5
333.8
335.9
341.9
343.7
348.4
356.2
360.0 5/
367.2 £ /
0/
373.6
376.6

59.7
61.0
62.3
62.6
63.1
63.2
62.3
61.4
62.0
59.9
60.6
62.0

106.0
107.1
108.9
108.9
111.1
110.6
111.2
112.3
113.3
113.3
115.1
115.6

1973—Jan. 31 p

563.6

385.0

61.9

116.6

62.8

1/ Adjusted to exclude domestic commercial interbank loans.
p - Preliminary.
2/ Beginning July 1969, bank credit data are revised to include all bank premises subsidiaries and
other significant majority-owned domestic subsidiaries; earlier data for commercial banks only.
Also total loans and investments are now reported gross of valuation reserves rather than net
as previously reported. Individual loan items have always been reported gross.
4/ Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million
are included in other securities; previously they had been included in real estate loans.

5/ Includes $800 million system matched sale-purchase transactions outstanding on September 27. *
http://fraser.stlouisfed.org/
# #
Include#$#00 millio##stem matc#e# sale-pur##e transac##is outstai#d% on N o v e # # 29.
# #
Federal Reserve Bank of St. Louis

#(




##

# e
3
tOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES
Loans sold outright by commercial banks
(outstanding in billions of dollars
N.S.A.)
Sold to
Sold to
Affiliates 1/
nonbank public 2/
Business
Business
Business

/Coaeercial bank credit
(seasonally adjusted)
Total loans

and ipvesfmenfc

Original
1971
July 28
Aug. 25
Sept .29
Oct. 27
Nov. 24
Dec. 31

4.4
4.4
4.6
4.5
4.4
4.5

1972
Jan. 26
4.6
Feb. 23
4.5
Mar. 29
4.4
Apr. 26
4.4
May 31
4.2
June 30(old) 3.9
(new)
July 26
4.0
Aug. 30
4.1
Sept .27
4.0
Oct. 25
4.0
Nov. 29
4.3
Dec. 27
4.4
1973
Jan. 31

1971
Jan. 27
Feb. 24
Mar. 31
Apr. 28
May 26
June 30
July 28
Aug. 25
Sept .29
Oct. 27
Nov. 24
Dec. 31
1972
Jan. 26
Feb. 23
Mar. 29
Apr. 26
May 31
June 30
July 26
Aug. 30
Sept.27
Oct. 25
Nov. 29
Dec. 31

2.2
2.3
2.3
2.2
2.2
2.0

2.1

2.0
2.2

2.1
1.9

1.8
1.7
1.9

1.8
1.8
1.9

2.0

4.4

2.8

2.8

p e If
2/
3/
4/
5/
6/
2/

Total loans
Original
Adjusted 3/

Busines
Original

3.4
0.5
0.4
0.4
0.4
0.4

463.7
468.4
472.4
477.2
479.8
485.7

466.5
471.1
475.4
480.1
482.6
488.6

304.1
309.7
313.0
316.3
317.5
320.6

307.0
312 .4
316.0
319.3
320.3
323.4

113.2
115.2
116.2
116.6
116.0
115.5

379.2

116.4
117.3
118.4
119.9
121.2
121.1
120.7
121.4
123.9
124.6
126.7
128.2
129.1

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

7.7
10.9
-2.2
6.5
9.7
-5.3
11.8
21.2
10.4
4.1
-6.2
-5.2

19.7

9.4
9.3
11.3
15.2
13.0

2.8

3.0
2.9
2.8
2.7
2.5
2.3

1.7
1.7
1.8
1.7
1.5
1.4

0.4
0.3
0.4
0.4
0.4
0.4

491.4
496.6
505.0
507.4
516.1
517.5

494.4
499.5
507.8
510.1
518.6
519.8

325.7
328.5
333.8
335.9
341.9
343.7

328.7
331.5
336.6
338.5
344.4
346.0

2.3
2.4
2.3
2.3
2.5
2.6

1.4
1.6
1.5
1.5
1.6
1.7

0.3
0.3
0.3
0.3
0.3
0.3

521.9
529.8,
1/
535.3^'

524.2

348.4
356.2.

350.7

2.8

1.6
1.6
1.6
1.6
1.7

2.6

540.4
554.2

556.8

373.1
376.6

s;>

10/

563.6
Net Change
(Billions of dollars)

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

1/

-0.2

I
0.1
5/

-0.1

0.1

-0.2

0.1
0.1
0.1

-0.1

0.1

0.2

0.1
0.1
0.1
0.1
0.2
0.2
5/
0.1
0.1

-0.2
0.1

0.1

5/
0.2
0.1

5/

5/

1/

-0.2
-0.1
-0.1

0.2

0.1

-0.1

5/
0.3

0.1

0.1

0.1
0.1
0.1

i;
-0.1
5/
0.1
-0.1

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

-0.1

0.3
0.1
0.1

&
5/

0"l
5/
0.2
0.1
0.3
0.3

5/

5/
-0.1
5/
0.1
If
0.1
5/
$

I
0.1

E,
5/

ho.i
0.1

1/

1/

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

13.2
14.7
9.1
8.0
9.5
13.2
6.8
12.2
10.2
12.2
6.5
14.8

12.8
14.6
9.1
7.4
9.8
13.3
6.2
11.8
11.0
11.9
6.2
14.9

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

14.1
12.7
20.3
5.7
20.6
3.3
10.2
18.2
12.5
11.4

14.2
12.4
19.9
5.4
20.0
2.3
10.2
18.3
11.9
11.4

5/

10.5

10.7

5/

20.4

5/

5/

1973
Jan. 31 p

Adjusted 3/

1.6
1.9
1.8
1.8
1.6

3.0
2.9

x

1/

A

20.0

20.6
20.3

7.0

8.2

3.2
6.9
10.1

6.8

9.5
22.1
12.8
15.3
6.4
7.2
19.1
10.3
19.4
7.5
21.4
6.3
16.4
26.9

12.8

24.0
20.9
9.6

26.8

10.2
18.5

6.8

20.9
5.6
16.3
27.0
12.4
23.5

6.8
20.2

9.9

14.2
8.4

21.8

-1.0

7.0
24.7

36.3

Preliminary
Estimated
To bank holding companies affiliates subsidiaries or foreign branches.
To other than banks' and bank-related affiliates or subsidiaries.
Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches.
Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches.
Less than $50 million.
Includes $800 million system matches sale-purchase transactions outstanding on February 24.
Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million are Included in "other securities"
rather than in "real estate loans".
8/ Beginning June 1972, business loans were reduced by about $400 million as the result of loan reclassifications at one large bank.
9/ Includes $800 million system matched sale-purchase transactions outstanding on September 27.
10/ Includes $300 million system matched sale-purchase transactions outstanding on November 29.

r

TABLE 3 - S ^ p l m t t i t y
LOANS SOU) OUTRIGHT BY OONCRCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES

Date

Lextns sold out[right by coenerciitl banks
Coutstaend ins in hiLIIions of dollars
N.S.A.)
Sold to
Sold to
Affil iates 1/
nonban t public 2/
Business
Business
Business
Total
Loans
Total
Loans
Total
Loans

1969
May
June
July
Aug.
Sept.
Oct.
Hot,
Dec.

28
30
30
27
24
29
26
31

2.0
2.8
3.7
4.24.7
5.9
6.1
5.3

1970
Jan.
Feb.
Mmr.
Apr.
my
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

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

7.7
8.3
8.5
9.0
9.8
9.8
10.0
9.6
6.8
6.0
5.4
4.7

During
month
ending:
June 30
July 30
Aug. 27
Sept. 24
Oct. 29
Nov. 26
Dec. 31
1970
Jan.
Feb.
Mar.
Apr.
Mmy
June
July
Aug.
Sept.
Oct.
•or.
Dec.

8/

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

;:!«

2.4
2.7
3.0
3.9
4.1
3.2

1.5
2.1
2.8
3.3
3.8
4.8
4.8
3.9

1.9
2.2
2.5
3.3
3.4
2.6

0.5
0.7
0.9
0.9
0.9
1.1
1.3
1.4

5.1
5.8
6.0
6.4
7.1
7.2
6.9
6.6
4.2
3.7
3.2
2.5

6.0
6.6
6.8
7.2
8.1
8.1
8.2
8.0
5.2
4.4
3.8
3.0

4.4
5.0
5.3
5.6
6.4
6.5
6.3
6.0
3.7
3.2
2.7
2.1

1.7
1.7
1.7
1.8
1.7
1.7
1.8
1.6
1.6
1.6
1.6
1.7

S:'t'
0.5
0.5
0.5
0.6
0.7
0.6
0.7
0.8
0.7
0.8
0.7
0.7
0.6
0.6
0.5
0.5
0.5
0.4

Commercial bank credit
(seasonally ad lusted)
Total loans
and invtisteents
Original
Ad lusted 3/
401.3
402.7
402.3
402.2
402.4
404.3
407.1
406.0

271.0
271.9
271.6
272.1
273.6
275.6
277.8
279.4

272.5
274.0
274.4
275.4
277.4
280.3
*82.6
283.3

102.3
102.4
102.7
103.4
104.2
104.6
105.1
105.7

103.1
103.7
104.6
105.6
106.7
107.9
108.5
108.3

400.3
400.4
403.9
405.9
407.7
408.4
414.3
419.5

406.3
407.0
410.7
413.1
415.8
416.5
422.5
427.5

284.5
284.8
286.5
286.5
287.2
287.6
291.4
293.7

105.2
105.1
105.1
105.3
105.5
106.2
107.0
108.5

109.6
1X0.1
110.4
110.9
111.9
112.7
113.3
114.5

424.3
426.2
429.3
433.9

429.5
430.6
433.1
438.9

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

293.6
293.5
293.8
294.9

109.5
109.4
109.3
109.6

113.2
112.6
112.0
111.7

(Annual rates in per cent)

0.8
0.9
0.5
0-5
1.2
0.2
-0.8

0.6
0.7
o.r
0.3
0.9
0.2
-0.9

0.6
0.7
0.5
0.5
1.0
5/
-0.9

0.5
0.6
0.3
0.3
0.8
0.1
-0.8

0.2
0.2
5/

2.4

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

2.1
0.6
0.2
0.4
0.9
5/
0.1
-0.2
-2.8
-0.8
*6
-I.I

1.8
0.6
0.3
0.3
0.8
0.1
-0.2
-0.3
-2.3
-0.5
-0.5
-0.6

0.3

0.2
0.5
0.8
V

0.2
-0.4
-2.8
-0.8
-0.6
-0.7

Partly estimated.

Businesi loans 11/
Original
Ad lusted 4/

399.8
400.6
399.5
398.9
398.6
399,5
402.3
402.1

Set Chi
(Billions if dollars

#.$

Total loans
Original
Ad lusted 3/

&

0.2
0.2
0.1

y

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

0.1

0.1
0.1
5/
5/
0.1
0.1
-0.1

2.4
-3.3
-1.8
-0.9
2.7
8.4
-0.6

4.2
-1.2
-0.3
0.6
5.7
8.3
-3.2

4.0
-1.3
2.2
6.6
8.8
9.6
6.9

6.6
1.8
4.4
8.7
12.5
9.9
3.0

1.1
3.5
8.2
9.3
4.6
5.7
6.9

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

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

0.9
2.1
10.9
7.0
7.8
2.0
17.3
14.2
5.6
3.1
7.0
16.1

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

5.1
1.3
7.2

-5.7
-1.1

——

2.2
2.3
8.0
9.0
16.8
11.1
-1.1
-Ifi
3.3

2/ Adjusted to maintain comparability with s*##eguent dati^



c - Corrected.

2.9
1.6
15.9
9.5
-0.4
-0.4
1.2
4.5

mm •

7.0
10.4
11.5
12 4
13.5
6.7
-2.2
14.4
5.5
3.3
5.4
10.8
8.6
6.4
12.7
-13.6
-6.4
-6.4
-3.2

e#

##

##

e#

e#

#*

ee

##

ee

v

#e

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

Date
Total

Total

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

Through
brokers
and 1/
dealers

Direct^

Commercial
paper 2/

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

1969
May
Dec.

28
31

12.7
19.6

10.9
14.5

9.9
12.8

0.6
0.8

0.1 6/
0.6

0.2 6/
0.3

0.8
4.3

1.0
0.8

0.4
0.6

0.6
0.2

0.1
0.3

7/
0.1

1970
June
Dec.

24
30

21.5
11.7

13.1
8.6

12.2
7.7

0.6
0.7

0.2
0.1

0.1

7.6
2.3

0.7
0.7

0.7
0.7

0.1

0.3
0.3

0.5
0.2

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

30
28
25
29
27
24
29

5.2
5.2
4.9
6.0
6. 6
7.0
4.4

2.2
2.1
1.9
2.8
3.3
3.7
1.3

1.5
1.5
1.4
2.5
2.9
3.3
0.9

0.6
0.6
0.5
0.4
0.4
0.4
0.4

1.7
1.8
1.8
1.9
2.0
2.0
2.0

1.3
1.3
1.3
1.3
1.3
1.3
1.2

1.1
1.1
1.1
1.1
1.1
1.1
1.0

0.2
0.2
0.2
0.2
0.2
0.2
0.2

0.3
0.3
0.3
0.3
0.3
0.3.
0.3

0.2
0.2
0.2
0.2
0.2
0.2
0.2

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

26
23
29
26
31
28
26
30
27

5.0
4.7
5.1
4.8
4.6
4. 6
4.7
4.7
5.3

1.8
1.4
1.8
1.6
1.7
1.7
1.6
1.5
2.2

1.4
1.1
1.5
1.4
1.5
1.4
1.3
1.3
2.0

0.3
0.3
0.3
0.3
0.3
0.2
0.2
0.2
0.2

1.0
1.0
1.0
0.9
0.9
0.9
0.7
0.7
0.7
0.6

It

25
29

1.2
1.2
1.1
0.9
0.9
1.0
0.9
0.8
0.8
0.8

0.2
0.2
0.1
0.1

Oct.
Nov.

2.1
2.1
2.2
2.2
2.0
2.0
2.3
2.4
2 .4
2.5

0.2
0.2
0.1
0.1
0.2

0.4
0.4
0.3
0.3
0.3
0.3
0.3
0.3
0.4
0.4

0.3
0.3
0.3
0.3
0.4
0.4
0.4
0.4
0.4
0.4

Dec.
1973
Jan.
IJ
2/
3/
4/
5/
6/
2/

7/
H
1/
1/

1/
V
1/

1/
11
1/
1/

1/
7/
2/
7/

H

1/

7/
7/
7/
7/
If

1/
It
It
It
It
It
It
It
It

It

4.9

1.6

1.4

0.2

V

7/

1.9

1.7

0.2

7/

It

27 p

r 5.2
4.9

1.6

1.4

0.2

7/

V

2.6
2.6

0.7
0.7

0.6
0.6

0.1
0.1

0.4
0.4

0.4
0.4

31 p

5.1

1.7

1.5

C.2

7/

1J

2.7

0.7

:.6

0.1

0.4

0.4

Includes an indeterminate amount of Federal funds purchases from U.S. Agencies of foreign banks
Issued by a bank holding company or other bank affiliates.
Loans or participation in pools of loans sold under repurchase agreements.
To bank holding companies, affiliates, or subsidiaries.
To other than banks and bank-related affiliates or subsidiaries.
Partly estimated.
Less than $50 million.




•<

TABLE 5
Loans at All Commercial Banks
Seasonally Adjusted

Buy.isiess

Date

Real Set°te
( In

1966—-Dec.
1967—Dec,
1968—Dec.
1969—-Dec.

78.6

31
31
31
31 —

86.2
95.9
105.7

1 9 7 0 — D e c . 31

109.6

1 9 7 1 — J u n e 30(old)
(new)
July 28
Aug. 25
Sept. 29
Oct. 27
Nov. 24
Dec. 31

112.1

(old)
(new)

Oct. 25
Nov. 29 p
Dec. 31 p
1973- -Jan. 31 p

3/

4/
5/

6/


7/


116.6
116.0
115.5

121.2

July 26
Aug. 30
Sept.27 -

2/

116.2

116.4
117.3
118.4
119.9

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

1/

113.2
115.2

121.1

Consumer

b 11 1 i o n s o f
38.2
53.8
40.5
58.4
46.2
64.9 2 /
50.8
7 0 . 3 ^ (old)
69.8 (new)
50.3-/
72.3

Security
d o 1 1 a r s )
7.9
9.2

10.2
9.1
10.3

Nonbank
financial

Agriculture

12.0
11.3
12.4 2 /
13.1— (old)
13.6 (new)
14.3

8.7
9.5

10.0
10.6
11.4

56.3

9.5

15.9

12.0

76.7
77.6
78.6
79.5
80.5
81.4

56.7
57.5

8.8

16.0
15.9
15.2
15.6
15.8
15.3

12.1
12.2
12.3
12.4
12.6
12.8

82.6

60.8

83.9
85.2
86.5

61.5

16.5
17.0
17.4
16.7
17.1
16-9 5/
17.2 5/
18.4
19.5
18.9
20.2

12.9
12.9
13.0
13.1
13.2
13.3

88.0

58.1
58.8
59.6
60.3

62.1

62.6
63.4

9.5
10.3
10.4
10.3

11.0

11.6

12.0
12.3

11.8
13.3
13.3

89.3

64.3

90.6
92.1

13.3

129.1

93.2
94.5
96.1
97.3

65.1
66.3
67.2
r 68.3
69.3
70.4

14.7

21.1
20.7

13.4
13.5
13.5
13.8
14.1
14.3

133.0

98.7

71.4

14.5

22.3

14.6

120.7

121.4
123.9
124.6
126.7

128.2

p - P r e l i m i n a r y r
- Revised
Data are comparable with previous months. Individual loan items are gross throughout and the effect
of consolidation in June 1969 on any one loan item was nominal.
Real estate loans decreased by $500 million on December 31, 1969, and loans to nonbank financial
institutions increased by $500 million due to change in method of reporting mortgage loans held
under repurchase agreements.
Consumer credit data adjusted in July to exclude about $500 million of consumer paper sold by
finance companies to the banking system but classified as loans to nonbank financial institutions
on bank records. Subsequent repayments completed in February 1972 are also included in loans to
nonbank financial institutions.
Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700
million are included in other securities; previously, they had been included in real estate loans.
Beginning June 1972, business loans were reduced by $400 million, nonbank financial increased by
$300 million, and "other" loans increased by $100 million as the result of loan reclassification
at one large bank.
Includes $800 million system matched sale-purchase transactions outstanding on September 27.
Includj

300 m i l l i o ^ s ^ t e m matche^s^le-purchase transactions outstanding on Ngyejgber 29
# r

##

Table 6
Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted
(In billions of dollars)
! 1971

1972

Item

j
I

1973

Dec,

Jan.

Feb.

March

April

May

June

July

Aug.

Sept.p

Oct. p

Nov

Loans and Investments 2/ \ +5.9

1 +5.7

+5.2

+8.4

+2,4

+8T.7

+1.4

+4.4

+7.9

+5,5-/

+5.1

+9.0- 1

+4 .8

-0.9

+0.6

-2.1

+0.7

+1.4

+1.1

+1,0

1/

-*-1.8

+0.5

+1.0

p

Dec

p

Jan
+9.4

U. S. Gov't, securities

j +1.9

-1.0

+1.3

+1.3

+0.3

+0.5

| +0.1

-0.9

Other securities

!

+2.3

+1.5

+1.1

+1.8

1/

+2.2

-0.5

+0.6

+1.9

+5.1

+2.8

+5.3

+2.1

+6 .0

+1.8

+4.7

+7.8

+3.8^/

+7.2

+6.4^

+3.0

+8 .4

Business

-0.5

+0.9

+0.9

+1.1

+1.5

+1.3

-o.i-/

+0.7

+2.5

+0.7

+2.1

+1.5

+0.9

+3.9

Real estate

+0.9

+1.2

+1.3

+1.3

+1.3

+1.5

+1.3

+1.3

+1.5

+1.1

+1.3

+1.6

+1,2

+1.4

Consumer

+0.7

+0.5

+0.7

+0.6

+0.5

+0.8

+0.9

+0.8

+1.2 *

+0.9

+1.1

+1.0

+1,1

+1.0

Security

+0.7

+0.6

+0.4

+0.3

-0.5

+1.5

1/

1/

+0,4

+1.5— Z

-0.8

+0.8-/

-0.5

-0.2

Nonbank financial

-0.5

+1.2

+0.5

+0.4

-0.7

+0.4

-0.2-/

+1.2

+1.1

-0.6

+1.3

+0.9

-0.4

+1.6

Agriculture

+0.2

+0.1

1/

+0.1

+0.1

+0.1

+0.1

+0.1

+0.1

1/

+0.3

+&.3

+0.2

+0.3

All other

+0.4

+0.6

-0.8

+1.5

-0.1

+0.4

-0.1-/

+0.7

+1.0

+0.2

+1.9

+0.1

+0.5

+0.4

Total loans excluding
security 2/

+1,2

+4.5

+2.4

+5.0

+2.6

+4.5

+1.7

+4.8

+7.4

+2.3

+8.0

+5.2

+3.5

+8.6

Total loans excluding
security and nonbank financial 2/

+1.7

+3.3

+1.9

+4 .6

+3.3

+4.1

+1.9

+3.6

+6.3

+2.9

+6.7

| +4.3

+3.9

+7.0

!

Loans 2/

1

!

1

j

2/

Adjusted to exclude domestic interbank loans.

3/

Beginning June 1972, business loans were reduced by $400 million, nonbank financial increased by $300 million, and "other" loans increased by
$100 million as the result of loan reclassification at one large bank. Changes have been adjusted to take account of this reclassification.
Includes $800 million System matched sale-purchase transactions outstanding on September 27.
Includes $300 million System matched sale-purchase transactions outstanding on November 29.

4/
5/




-0.1

Table 6A
Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted
Adjusted for Loans Sold to Affiliates
(In billions of dollars)
1971

Item

1972
Jan.

Feb.

March

April

Loans and Investments 2/

+6.0

+5.8

+5.1

+8.3

U. S. Gov't, securities

+1.9

-1.0

+1.3

+2.3

+1.5

+1.8
-0.7

Loans 2/
Business

I

June

Julv

Aug.

Sept. p

Oct. p

+2.3

+8.5

+1.2

+4.4

+8.0

+5.3-/

+5.1

+9 .3—/

+4.9

+1.3

+0,3

+0.5

+0.1

-0.9

-0.9

+0.6

-2.1

+0,J

+1.4

-0.1

+1.1

+1.8

1/

-0.5

+0.6

+1.1

+1.0

+1,.8

+0.5

+1.0

+5.3

+2.8

+5.1

+1.9

+5.9

1.6

+4.7

+7.9

+3.7^

+7.1

+6 .7 y-

+3.1

+8.4

+1.0

+0.9

+1.2

+1,3

+1.1

I/

+0.7

+2.5

+0.6

+2.2

+1 .7

+0.9

+3.9

i

Other securities

Mav

CM

| Dec.

Nov,.

1/

P

Dec . p j Jan.
1

+9.4

Real estate
Consumer
Security
Nonbank financial

NOT

A V A I LABLE

Agriculture
All other
Total Loans excluding
security 3/
Total loans excluding
security and nonbank financial 3/
1

Jt/
2/
3/
4/
5/

Less than $50 million.
Adjusted to exclude domestic interbank loans.
Beginning June 1972, business loans were reduced by $400 million, nonbank financial increased by $300 million, and "other" loans increased by
$ 100 million as the result of loan reclassifications at one large bank. Changes have been adjusted to take account of this reclassification.
Includes $800 million System matched sale-purchase transactions outstanding on September 27.
Includes $300 million System matched sale-purchase transactions outstanding on November 29.

/



Table 7
Changes in Loans and Investments at All Commercial Banks, at Weekly
Reporting Banks, and at Other Banks, Not Seasonally Adjusted
Adjusted for Loans Sold
End of December to last Wednesday of January
Item
1973 p
All commercial banks 2/
Total loans
U. S. Gov't, securities
Other securities
Total

1972

1971

1970

1969

1968

1967

-2.9
-1.2
-0.2
-4.2

-5.5
-2.2
+0.1
-7.6

-8.2
-0.2
+1.0
-7.3

-8.5
-1.7
-0.7
-11.0

-6.1
-1.3
-1.0
-8.4

-4.0
-0.3
+0.2
-4.0

-4 .5
-0.2
+0.6
-4.1

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

-3.1
-0.9
-0.6
-4.6

-5.5
-1.8
-0.2
-7.4

-6.8
-0.4
+0.4
-6.8

-6.3
-1.5
-0.6
-8.3

-5.1
-1,7
-0.8
-7.6

-2.9
-0.7
+0.4
-3.2

-3.8
-0.3
+0.8
-3.4

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

+0.3
-0.3
+0.4
+0.4

1/
-0.5
+0.3
-0.2

-1.3
+0.2
+0.6
-0.6

-2.2
-0.3
-0.1
-2.6

-0.9
+0.4
-0.2
-0.8

-1.2
+0.4
-0.1
-0.8

-0.7
+0.1
-0.2
-0.7

All Large Banks

2/ 3/

Year ended December
Item
1972 p

1971—'

1970

1969

1968

1967

1 966^

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

+57.1
+1.7
+11.2
+69.9

+30.0
+3.2
+17.9
+51.1

+11.0
+6.5
+14.4
+31.9

+22.1
-9.9
1/
+12.2

+26.9
+2.0
+10.1
+38.9

+17.6
+6.3
+12.7
+36.6

+17.7
-3.4
+3.0
+17.2

All Lar^e Banks 2/ 3/
Total loans
U. S. Gov't, securities
Other securities
Total

+33.5
+0.2
+3.6
+37 .3

+12.9
+0.9
+7.7
+21.5

+4.5
+4.4
+8.3
+17.3

+10.4
-5 .6
-3.1
+1.7

+16.7
+0.5
+5.3
+22.5

+8.7
+3.6
+7.3
+19.5

+9.4
-2.0
-0.5
+7.0

+17.1
+2.3
+10.2
+29.6

+6.5
+2.1
+6.0
+14.6

+11.7
-4.3
+3.1
+10.5

+10.2
+1.5
+4.8
+16.4

+8.9
+2.7
+5.4
+17.0

+8.3
-1.4
+3.5
+10.2

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

}
! +23.6
1
+1.5
+7.5
+32.7

Data exclude domestic interbank loans; Call report data for large banks used when
available. Loans adjusted to include all loans sold to bank holding companies,
affiliates, subsidiaries, or foreign branches.
1/ Less than $50 million.
2/ Based on revised reporting beginning July 1959.
Changes have been adjusted to
maintain comparability of series.
3/ Based on revised coverage beginning July 1966, and January 1967, 1968, 1969, 1970,
1971, 1972, and 1973.
4/ Allowance has been made in monthly changes in total loans and in other securities
for approximately $700 million of Farmers Home Administration insured notes shifted
from loans to other securities on June 30, 1971; $200 million were at weekly reporting
banks and $500 million at other banks.
5/ Allowance has been made in monthly changes in total loans and in other securities
for approximately $1 billion of participation certificates shifted from loans to
other securities at the end of June; $700 million were at weekly reporting and $300
million at nonweekly reporting. Allowance has been made in monthly changes in
total credit and in total loans for the $1.1 billion of balances accumulated for
the payment of personal loans excluded from time deposits and from loans on June 9;

$400 million were at weekly reporting banks and $700 million at other banks.



Table 8
Changes in Commercial and Industrial Loans at Large Commercial Banks
(In millions of dollars)

Business of borrower
Food processors
Commodity dealers
Trade concerns
Retail trade
Wholesale trade
Metals
Primary metals
Machinery
Transportation equipment
Other fabricated metals
Textiles, apparel, etc.
Petroleum
Chemicals
Other durable manufacturing
Other nondurable manufacturing
Mining
Public Utilities, total
Transportation 3/
Communication 3/
Other public utilities
Construction
All other types of business
Bankers acceptances
Services 3/
Other
Foreign business concerns 3J
Classified
Unclassified
Total Change
1/
2/
2/

Late December to late January 1/
1973 p
-39
+150
-48
-3
-45
+260
+38
+135
+52
+35
-9
+111
+267
-23
+38
+235
+235
+41
+129
+65
+51
-127
-280
+104
+49
+80
+1,181
+33
+1,214

1972
-64
-25
-208
-94
-114
-416
+27
-303
-53
-87
-79
-23
-134
-51
-132
-138
-55
-89
+46
-12
-19
-568
-373
+59
-254
+39
-1,873
-74
-1,947

1971

1970

-371
-276
+2
-6
-210
-648
-110
-179
-100
-469
-321
-175
-46
+9
-164
-288
+116 •
-52
-59
-12
-123
-124
-37
-97
-81
-119
-79
-123
-46
-62
-226
-85
+295
-111
+128
+27
+120
-162
+47
+24
-32
-101
-415
-255
-124
-81
-181
-59
-110
-115
-90
-167
-1,609 -2,474
-29
-25
-1,634 J-2,503

Late December to late December
1972 p

1971

+547
-200
+116
+302 •
+1.111
+704
+900
+7
+211
+697
-298 -1,718
+10
-158
+225 -1,080
-583
-251
+50
-229
+401
-31
-199
-293
-394
-535
+396
-77
-126
-149
-183
-225
-6
+1,355
-362
-55
+543
-17
+867
+373
+808
+367
+477 +1,915
+606
-769
+416
+1,258
-12
+893
+702
+820
+874
+4,713
+2,477 +1,057
+7,190 +1,931

1970
-149
+189
-3
-135
+132
-234
+61
-497
+297
-95
-19
-192
-65
+39
-86
-834
-1,184
+264
-231
-1,217
+269
+1,342
+983
+378
-19
+171
-756
+871
+115

1969
+276
+206
+342
+144
+198
+2,708
+194
+1,317
+712
+153
+150
+115
+362
+332
+314
+126
+1,610
+556
+360
+694
+224
+2.220
+1,044
+20
+1,196
-356
+7,955
+374
+8,329

Five most comparable weeks used throughout.
Changes are compiled from December 29, 1971; December 30, 1970; December 31, 1969; December 25, 1968; and
December 27, 1967. These data cannot be linked with all commercial bank data which are always for December 31.
Prior to 1967, transportation, communication, services, and foreign loans were not reported separately.




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

Loans and
Investments]
1964--Dec.
1965--Dec.
1966--Dec.
1967--Dec .
1968--Dec.
1969--Dec.

31
31
31
JO
31
31 3/

1970--Jan.
Feb.
Mar.
Apr.
May

28
25
25
29
27
30
July 2 9
Aug. 26
Sept. 30
Oct. 28
Nov. 25
Dec. 31

1971-

-Jan.
Feb.
Mar.

27
24
31

May

26

Apr.

399.1
397.2
400.5
404 . 8
405.3
411.7
414.1
416.8
424.7
425.6
42 9.3
446.8

28

30 (old)
(new)
July 28
Aug. 25
Sept. 29
Oct. 27
Nov. 24
Dec. 31
1972—Jan.
Feb.
Mar.
Apr.
May

26
23
29
26

31
30

July 26
Aug. 30
Sept. 27
Oct. 25
Nov. 29
Dec. 31
1973—Jan.31 p

279.2
307.6
324.0 1/
360.8
400.4
412.1

(old)
(new)

!
;
j
:
i

439.5
• 442.4 6/!
447.7
450.9
\
453.6
i
464.8
463.0
466.1
472.0
476.5
479.9
497.9
490.1
492.4
501.5
506.6
513.7
521.6

'

,
,
^ Other
Gov ' t. [Securities Total Loans i Business
1
63 .0
38.8
177.4
59 .5
'
44.9
203.2
56 .2
48.8
'219.0
62 .5
:
61.5
236.8
64,.5
71.5
,264.4
54. 7
:
71.3
286.1
138.4

53.0
51.4
51.5
52.3
52.6
51.6
53.5
55.1
55.8
57.2
58.3
61.7
61.5
61.4

61.6
60.0
58.8
60.3
59.3
58.7
58.7
60.0
61.0
64.9

. 62.7
61.9
62.5
61.9
i1
hi .2
60.3

70.6
70.8
72.7
74.3
74.3
75.6
75.7
77.1
79.5

81.0

82.5
86 . 1

275.6
275.0
276.3
278.2
278.4
284.5
284.9
284.7
289.5
287.5
288.4
299.0

87.1
290.9
88.9
292 .1 6/
91.5
2 94.6
94.2
296.7
94.9
300.0
96 . 7
307 . 8
97.41/ 307.1
98.2
305.6
98.1
309.3
99.9
.313.4
101.S
315.1
101.6
317.3
104.7
328.3
1-^.8
106.2
108.5
109.7
110.9
111.5

322 .7
324.3
330.5
335.1
341.6
349.8
350.9
354.5 360.62/

Estate

Security

Consumer

70.0 L i

104.1
1D4.0
If/- .9
135.5
1)5.2
1)8.4
1)7.3
107.1
1)9.4
1)8.4
138.8
112.5
1)9.1
110.3
1U.2
111.6
112.4
114.4
11.3.4
14.2
115.9

31.0
35.7
38.3
40.6
46.3
51.0

8.6 2/

10.4

118.5
1 JO .2

1:6.1

113.4

120.1
120.8
123.6
12 1.2
122.3

12 .0
»/ .6

II .9
1

522 .0
526.5
534.62/
540.2
549.4
568.1

59.6
59.3
60.3
60.9
63.2
66 .6

liZ.5
112.6
113.7
113.8
114.4
115.9

365.5
371.8
385.6

125.a
127,6
132.5

95.1

563.8

65.4

115.7

382,7

131.8

98.6

124.2

1

14 .2

15.7
16.8
15.3
16.9
19.3

20.6

21.2

53-. 6
53.6
54.0
54.9
55.7

14.5
14.3
15.2
15.2
15.4
17.0

19.9
19.8
19.1
19.9
20.8
21.5

57.2
58.0
58.6
59. 1
59.7
60.5

15.9
15.5
15.5

21.9

60.4
60.7
61.3
62,2
63.3
64.7

Hi
16.9

16.0
16.2
16.816.9
16.9

19.2
19.0
19.0
19.0
19.4

20.0
19.6

18.8
19.4
18.9
19.6

21.3

22.0
22.6
23.2
25.3
24.5
23.8
24.5
26.4
27.0 .

i 65.6
66.9
:
67.7

18.3
18.8
19.3

rf,9. ,
: 7Q.6

20.7

27.0
27.0
27.3
28. T
28.8

| 70.9

22.1

™.l

ir6o .f>
14 .9

I

12.7
12.4
12.2
12 .7
12.3
14.4
14.9
14.4
15.1
14.3
14.3
15.9

56. 6

75

10.9
13.3
13.3
12.5
13.7
15.1

All

Other 10/

50.9
50.7
50.7
51.1
51.5
52.1
52. 6r-'
53.0
53.3
53.3
53.2
53.6

V

73.0

1Nonbank
| Financial
Institutions

20.0

(0.8

p - Preliminary.
Data exclude domestic interbank loans Consumer and "other loans"
were partly
timated for all dates. Other data are partly estimated on all but June
and December call dates.
1/ Beginning June 9, 1966, $1.1 billion of balances accumulated for the payment of
personal loans were deducted from time deposits and ".ill other"
loans.
2_/ Beginning June 30, 1966 about $1 billion of participation certificates previous
'ly i n c I u d e d i n agricultural and "all other" loans were reclassified
as "other securities ."
'3/
Data revised beginning June, 196?/ to include all-bank premises subsidiaries and
other significant majority-owned domestic subsidiaries; earlier
data are for commercial banks only.
NOTE:

4/
5/

6/
_7/

Real estate loans decreased by $500 million on December 31, 1969, and loans to nonbank financial
ions increased by $500 million due to
change in method of reporting mortgage loans held under repurchase agreements.
Consumer credit data adjusted in July to exclude about $400 million of consumer paper sold by finane
1
y
o a s tto nnonbank
b 1nkln
as lloans
-.•« o
-s on— bank
i 1.records.
j- •
"
? , ° o n b a n k fina*""'"* institutions
^
'
8 s>rstem b u t c U „ i t l < 4
7
financial institutions.
'also included in loans to nonb.mk
Includes $800 million System matched sale-purchase transactions outstanding on February 24.
Beginning June 30, 1971, Farmers Home Administratis
previously they had been included in real estate
PPro*i m atel y ,700 million are included in other securities;

8/

&




Includes $800 million system matched sale-purchase transactions outstanding on September 27.
Includes $300 million system matched sale-purchase transactions outstanding on November 29.

- -

TABLE
Ratios

10

to T o t a l D e p o s i t s

1/

U.S. Government
securities maturing
w i t h i n one y e a r

L O A N S

All
commercial
banks

B a n k s
M e m b e r
Reserve City Banks
City of
New York
i
City
iC h i c a g o iOther
Total

D A T E

1959—Dec.

31

54.0

55.6

1960—Dec.
1961--Dec.
1962--Dec.
1963--Dec.
1964--Dec.

31
31
28
25
31

55.1
54.5
56.5
58.6
60.5

56.5

1 9 6 5 - - D e c . 31
1 9 6 6 — D e c . 31
1 9 6 7 — D e c . 30

63.7
65.8
63.8
64.7
72.0
67.3

1 9 6 8 — D e c . 31*,,
1 9 6 9 — D e c . 31*—
1 9 7 0 — D e c . 31*

55.7
57.7
59.9
61.9
65.4
67.9
65.8
( 6 3 . 7 ) 66 .8
( 6 9 . 8 ) 75 .7
(66.2) 69.9

Nov.
(new) N o v .
Dec.

67.2 (66.2) 69.5
67.3 (66.4) 69.6
66.1 (65.6) 68.2
66.4 (66.1) 68.5
66.7 (66.5) 68.8
66.1 (65.9) 68.4
66.8 (66.5) 68.8
66.8 (66.6) 68.9
67.2 (66.8) 69.5
66.8 (66.4) 69.1
27*
2 4 * 2/ 67.1 (66.6 ) 6 9 . 3
67.6 (67.1) 70.0
24* —
31*
65.7 (65.6) 68.0

1972—Jan.
Feb.
Mar.
Apr.

26*
23*
2 9*
26*

1 9 7 1 — J a n . 27*
Feb. 24*
Mar. 31*
Apr. 28*
May
26*
June 30*
July 28*
Aug. 25*
Sept.29*
Oct.

All Commercial
Country

58.2
60.8

58.2
59.0

48.2
50.3

58.0
61.4
62.1
64.4

57.7
60.1

50.2
51.7
53.8
56.0

75.9
83.5
79.9
83.5(76.3)
102.8(86.4)
87.5(79.6)

70.2
77 .0
70.8

68.7
70.2
68.1
69.1
79.5
73.3

57.9
59.2

86 . 6 ( 7 9 . 9 )
88.0(82.3)
84.8(81.9)
84.7(82.5)
85.0(83.4)
84.0(82.3)
84.6(82.9)
85.4(84.3)
87.8(85.0)

72.5
72.3
70.5
71.5
71.8
71.4
72.2
72.2
72 .4

87.1(83.5)
86.7(83.6)
89.0(85.8)

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

84.1 (83.2 )

78.1

72.2
72.7
73.5
71.6

67.3
65.9
65.0
67.9
67.4
69.3

75.1
89.5
80.6

63.3
65.0

Banks
7.4
8.7
11.2
9.5
7 .5
8.0

58.2
58.2
6 2 .8

7.3
6.1
6.4
6 .1
5 .0

60.2

5 .7

60.6
60.6

5.5
4.9
4.7
4.3
4.1
3.9
3.8
3.4

59.8
60.2
60.4
59.9
60.3
60.1
60.5
60.2
60.4
60.4

3.6
3.5
3.1
3.1

59.2

3.9

85.6(84.0)

79.9

71.9

60.0

3.6

72 .3
72.8

60.3
60.3

81.9
83.7
.84.7
85.6

73.4
73.2
75.0
75 .0

60.2
60.5
61.0
61.1

3.9
4.0
3.6
3.7

Aug. 30*
Sept.27* p

85.5(84.4)
85.1(83.4)
84.1(82.7)
84.7(83.2)
84.9(83.6)
84.7(83.2)
85.6(84.3)

81.7
82.5

57 .0
57.3
58.1
68.4
68,7
68.8

(66.3) 68.7
(66.3) 68.8
(66.4) 69.0
(66 .8) 6 9 . 2
(67.1) 69.5
( 6 7 . 9 ) 70.5
(68.2) 70.5
(68.6) 71.0
(68.5) 71.2

84.3(82.2)

85.5
83.6

75.8
76.8

61.3
61.4

Oct. 25* p

68.8

(68.7) 71.4

85.6(84.3)

85.7

76.9

61.2

Nov. 29* p
Dec. 27* p

69.1
68.8

( 6 8 . 9 ) 71.5
(68.6) 71.5

86.1(84.6)
86.6(85.if

85.8
86.6

76 .5
76.9

61.6
60.7

3.2
3.5
4 .2

1 9 7 3 — J a n . 31* p

69.4

(69.2) 72.1

88.4(86.9)

89.3

77.5

61.0

n .a.

May

31*

June 30 *
July 26*

1/
~~
2/
~
3/

66.5
66.5
66.7

H
J •J

q .4
/,

J

3.3

T o t a l loans (adjusted to e x c l u d e loans to b a n k s ) ; U . S . G o v e r n m e n t s e c u r i t i e s m a t u r i n g
w i t h i n one y e a r e s t i m a t e d on b a s i s of T r e a s u r y s u r v e y of o w n e r s h i p ; and t o t a l d e p o s i t s
(adjusted t o e x c l u d e c a s h items in p r o c e s s of c o l l e c t i o n ) .
B e g i n n i n g J u n e 1969, t o t a l loans a r e r e p o r t e d g r o s s of v a l u a t i o n r e s e r v e s r a t h e r t h a n
net as p r e v i o u s l y r e p o r t e d .
T h e h i g h e r loan level i n c r e a s e d the r a t i o by a b o u t
1.3 p e r c e n t a g e p o i n t s for a l l c o m m e r c i a l b a n k s .
L o a n d a t a r e v i s e d to e x c l u d e only loans to d o m e s t i c c o m m e r c i a l b a n k s .
d a t a had a l s o e x c l u d e d loans to f o r e i g n c o m m e r c i a l b a n k s .


http://fraser.stlouisfed.org/ C o r r e c t i o n ,
Federal Reserve Bank of St. Louis

Previous

TABLE 11
Money Stock Measures and Deposit Turnover
(Seasonally adjusted; dollar amounts in billions)

M

i
Currency
plus
demand - .
deposits—
--December
--December
--December

M2
M^ plus
time dep.
at comm.
other thann /
large CD's—

m3
# 2 plus
deposits
at nonbank thrift
.
institutions—

Currency

Components of money stock measures and related items
Time and
NonU.S. G o v 1 1 .
Demand
savings deposits
bank thrift
deposits
Deposits
CD's
Other
Total
institutions
(all member)

Turnover
outside
N.Y. City
(per cent)

201.6
208.8
221.3

382.5
392 .3
425.2

577.2
594.0
641.3

43.4
46.1
49.1

158.2
162.7
172.2

23.3
10.9
25.3

180.9
183.5
203.9

204.2
194.4
229.2

194.7
201.7
216.1

4.9
5 .3
6.5

45.3
50.0
52.9

-July
August
September
October
November
December

234.1
234.6
234.9
235.7
235.6
236.0

460.0
461.9
463.7
467.3
470.3
473.&

700.1
704.8
709.3
715.8
721.5
727.7

51.5
51.6
51.9
52.2
52.3
52.6

182 .6
182 . 9
183.0
183.5
183.3
183.4

30.4
30.5
31.3
32.1
32.1
33.0

225.9
227.4
228.8
231.6
234.7
237.9

256.3
257.9
260.1
263.8
266.7
270.9

240.1
242.8
245.6
248.5
251.3
253.8

5.1
5.7
6.2
5 .0
4.8
6.1

55.0
55.9
55.6
54.3
58.1
57.3

—January
February
March
April
May
June
July
August
September
October
November
December

236.2
239.1
241.4
243.0
243.8
245.1
247.7
248.6
250.1
251.6
252 .7
255.5

477.9
483.9
488.9
492.1
495.5
499.3
504.5
508.4
512.1
516.4
519.8
525.1

735.7
746.0
754.8
761.5
767.9
775.0
783.9
791.5
798.9
806.9
813.5
821.8

52.9
53.7
53.6
53.9
54.2
54.4
54.6
54.8
55.3
55.7
56.2
56.8

183.3
185.8
187.7
189.1
189.6
190.7
193.1
193.8
194.8
195.9
196.5
198.7

33.2
33.7
33.8
35.2
36.8
37.5
38.3
39.1
3*. 8
40
41.2
43.2

241.7
244.8
247.5
249.1
251.8
254.2
256.8
259.8
262.0
264.8
267.1
269.6

274.9
278.6
281.3
284.3
288.6
291.7
295 .0
298.9
301.9
304.8
308.4
312.8

257.8
262.1
265.9
269.4
272.4
275.7
279.5
283.1
286.8
290.5
293.7
296.7

6.3
4.6
5.7
6.8
7.5
6.2
5.2
4.5
5.1
6.3
6.9
6.5

56.3
56.2
57.2
58.9
58.7
58.6
57.1

-January p

255.4

528.0

828.3

57.0

198.4

44.4

272.6

317.0

300.2

7.1

258 .2
254 .6
255 .7
255,.0
254,.5

530.2
526.2
528.5
527.8
527.9

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

57.3
57.2
57.0
57.0
56.7

200.8
197.4
198.7
198.0
197.7

43.5
44.0
43.9
44.5
45.5

272.0
271.6
272.8
272.7
273.4

315.5
315.6
316.7
317.3
318.9

n .a
n .a
n .a
n,.a
n,.a

W e e k ending:
1973--January

3
10
17
24
31 P

60.2
60.1
59.2

62.1

61.7

7.2

n.a.
n.a.

6.9
6.7

n.a.
n.a.

6.8

1/ Includes (1) demand deposits at all commercial banks other than those due to domestic commercial banks and the U.S. Government, less cash items
in the process of collectives and F.R. float; (2) foreign demand balances at F.R. Banks; and (3) currency outside the Treasury, F.R. Banks and vaults of
all commercial banks.
2/
Includes in addition to currency and demand deposits, savings deposits, time deposits open account, and time certificates of deposits other than
negotiable time certificates of deposit issued in denomination of $100,000 or more by large weekly reporting commercial banks.
, 3/
Includes M^, plus the average of the beginning and end of month deposits of mutual savings banks and savings and loan shares.




Time and Savings Deposits
State Political
Large
ConsumerNegotiable
Foreign Official
type
Savings
CD's 1/
time
etc .

Total

Consumertype time
& savings

(old)
(new)
(old)
(new)
(old)
(new)
(old)
(new)
(old)
(new)

89,495
89,639
102,809
102,991
111,900
112,103
96,589
96,787

65,733
65,864
73,686
73,858
79,443
79.637
77.616
77,812

47,099
47,213
48,647
48,781
49,016
49,161
46,486
46,632

18,634
18.651
25,039
25,077
30,427
30,476
31,130
31,180

15,659
15,642
20,330
20,330

119,442

48,032
48,479

34,744
34,994

26,074
26,125

10,592

120,206

82,776
83,473

1971- - D e c .
Dec .

29 (old)
29 (new)

140,933
141,259

94,516
94,810

54,543
54,738

39,973
40,072

33,951
33,951

12,466
12,497

1972- - J a n .
Feb.
Mar.
Apr,
May
June

26
23
29
26

142,835
144,123

96,365
97.617

31
28

144,863
146,743
149,089
149,657

99,402
98,741
99,764

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

40,642
41,192
41,786
41,462
42,142

33,852
34,011
33,457
34,234
35,580

12,495
12,004
13,699
13,745

100,626

57,842

26

151,357

100,907

35,903
37,705

13 ,128
12,745

Aug. 30
Sept. 27
Oct . 2 5

155,510
156,287
157,388
158,860

101,618

57,938
57,823
58,070

42,784
42,969
43,795
44,526

41,213
41,219

12,679
12,472

58,160
58,183

44,598
44,612

42,277
43,926

12,353
12,139

58, m

44,814
44.652

44,7*3
44,911

13,361
13.269

44,623
44,574
44,796
45,127
45,293

43,932
44,844
44,856
45,384
45,782

13,538
13,673
13,630
13,714
13,675

Period

1966- -Dec
Dec
1967- -Dec
Dec
1968- -Dec
Dec
1969- -Dec
Dec
1970- -Dec
Dec

.
.
.
.
.
.
.
.
.
.

July

28
28
27
27
31
31
31
31
30
30

Nov,29
D e c . 27

W e e k ending:
1973—Jan.
3

(old)
(new)

161,090
161,311

160,661

102,596
102,758
d.02,7 95
102,966
102,945

58,293

10

161,603

103,191
103,086

58,568
58,512

17
24
31

161,659
162,538
162,936

103,173
103,440
103,479

58,377
58,313
58,186


http://fraser.stlouisfed.org/
2/
N e g o t i a b l e certificates of deposit issued in denominations of $ 1 0 0 , 0 0 0 or more
Federal Reserve Bank of St. Louis

22,821
22,820
10,919
10,919

8,103
8,133
8,793
8,803
9,636
9,646
8,054
*,056

10,608

12,618

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

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

Reserve City Banks
New York
City of
City
Chicago

1/

Excess
Reserves

Other

All
member

Country

1/

Borrowings
All
member

Total reserves
held seasonally
adjusted
All
member

Monthly A v e r a g e s :
1959--December
1960--December
1961--December
1962--December
1963--December
1964--December
196 5--December
1966--December
196 7--December
1968—December
1969--December
197 0--December

-424
669
419
268
209
168
-2
-165
107
-310
-829
-49

-109
10
-50
-62
19
-14
-70
-95
-22
-130
-203
9

-104
-4
-22
-11
21
-31
-8
-50
-5
-70
-9
3

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

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

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

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

18,519
18,836
19,641
19,551
20,159
21,150
22,247
23,351
24,773
27,219
27,959
29,121

1971--Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov .
Dec.

-91
-12 7
-120
-8
-18
-322
-658
-606
-295
-153
144
58

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

-6
19
-25
3
2
-39
-29
-10
2
-14
-7

-282
-333
-155
-154
-45
-173
-449
-437
-280
-144
-112
-57

178
172
150
164
92
17
-92
-58
24
4553
132

279
201
199
140
312
131
162
198
206
207
263
165

370
328
319
148
330
453
820
804
501
360
406
107

29,390
29,622
29,776
29,943
30,335
30,536
30,654
30,710
31,031
30,889
30,992
31,209

153
91

o
-5
-14
-50
— 3 6
2S

-9
-5
-13
1
-3
-1

173

20

124
233
136
104

33
99
109
119
94

31,776
31,639
32,021
32,612
32,852
33,027
33,171
33,381
33,327

1972--Jan.
Feb.
Mar .

134
27
-15

Apr.
May
June
July

110

Aug.
Sept.
Oct. r

r

Nov. p
Dec. p
t973--Jan. p
NOTE:

1/

r

,

13
130
17
-6
-55
-33

"

:

141
9
144
82
79
116

204

-55

17

2

-105

31

147

702

-183
-352
-327

r

-110
-107

-1
-13

-10
r -35
-90
-301
r-424

255
162
247

r

2
-78
-321

-62
r -197
-216
|
-241
|r -471

438
r
514
-574
606
r 1,049

-188
-830

r

-23
-18
-42

r

r

418
219

33,832
31,883
31,309

,(

32.241
-1,869
-103
!
1-166
-114
-617
! -314
297
Aggregate reserve series has
been adjusted to eliminate changes in percentage reserve requirements against deposits, but reserve
r e q u i r e m e n t s on Euro-dollar borrewings are included beginning October 16, 1969, and requirements on bank-related commercial paper
are included beginning October 1, 1970.
Beginning w i t h w e e k ending November 15, 1972 total member b a n k data includes $ 4 5 0 million of reserve deficiencies on which F . R . Banks are allowed
to w a i v e penalties for a transition period in connection w i t h bank adaptation to Regulation J as amended effective November 9, 1972. Beginning
1973, allowable deficiencies included are (beginning with first statement w e e k of quarter): Q l , $279 million.
Class of bank data are not adjusted.




TABLE 14-A
Liquid Asset Holdings of Private Domestic Nonfinancial Investors*
(Seasonally adjusted monthly averages; amounts in billions of dollars, ratios in per c e n t )

Currency and deposits

Other

Time Deposits

liquid assets
U.S. shortterm
marketable
Treasury
securities

Period

Total
liquid
assets
1

2

3

4

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

561.0
590.6
640.7
699.1
730.9
781.5
865.7

451.0
473.7
520.4
563.2
582 .2
630.7
719.3

36.3
38.3
40,4
43.4
46.1
49.1
52.6

119.1
121.1
129.4
139.4
143.6
151.5
161.3

125.2
136.9
156.3
174 .4
177.2
198.7
233.4

170.4
177 .3
194.2
205.9
215 .4
231.4
272.0

110.0
117.0
120.4
135.9
14a.?
150.8
146.4

14.9
14.5
19.1
22.4
9.0
23.0
29.8

10.4
14.9
23.4
22.6
21.5

38.7
43.6
39.9
47.2
65.3
53.8
41.5

1971--March
June
Sept.
Dec.

807.2
828.6
845,9
865.7

659.9
684.5
700,4
719.3

50.0
51.0
51.9
52.6

154.6
160.0
161.0
161.3

212.5
219.8
224.3
233.4

242 .8
253.7
263.1
272.0

147.3
144.1
145.5
146.4

26.4
26.8
27.8
29.8

1972--March
June
Sept.
Dec .

21.2
18.7
20.4
21.5

48.0
46.1
44.1
41.5

893.4
918.1
944.4
977.2

747.7
767.1
790.9
814.5

53.6
54.4
55.3
56.8

166.1
167.8
171.2
174.7

243.0
249.4
257 .0
264.8

285.0
295.6
307.4
318.2

145.7
151.0
153.5

30.6
34.3

162.6

36.7
39.2

21.5
21.9
21.3
21.6

1972—Jan.
Feb.
March
April
May
June

39.2
39.4
39.4
44.9

873.3
883.1
893 .4
902.6
910.4
918.1

728.0
738.3
747.7
754.4
760.3
767 .1

52.9
53.2
53.6
53.9
54.2
54.4

161.5
163.9
#6.1
167.3
167.1
167.8

237 .4
240.4
243.0
244.4
247.0
249.4

276.3
280.9
285.0
288.8
292 .0
295.6

145.3
144.8
145.7
148.2
150.1
151.0

29.9
30.4
30.6
32.1
33.6
34.3

21.6
21.6
21.5

38.5

21.8
21.9

39.2
39.7
39.7
39.4

July
Aug.
Sept.
Oct.
Nov.
Dec.

927.3
935.9
944.4
953.3
963.9
976.1

775 .7
783.3
790.9
799.1
805.9
814.5

54.6
54.8
55.3
55.7
56.2
56.8

169.5
170.2
171.2
172.1
172.7
174.7

251.9
254.9
257.0
259.8
262 .2
264.8

299.6
303.4
307.4
311.5
314.9
318.2

151.6
152.5
153.5
154.2
158.0

35.2

161.6

36.1
36 .7
36.6
37.5
39.2

21.9
21.5
21.3
21.0
21.5
21.6

38.9
39.1
39.4
40.2
42.2
43.8

981.4

820.4

57.0

173.9

267.5

321.9

161.0

40.1

21.6

42.1

1973--Jan. p

*

Total

Currency

s

Demand
deposits

Commercial
banks
5

k

For description oT items, and computation of ratios see T a b l e

Note:

Thrift
institutions

Total

Commercial
paper

8

6

10

6.8
8.8

21.6

39.9

14-C.

Data r e v i s e ^ for entire period to conform with money stock revision and revisions in other serie s.




Negotiable
CD's

All data available in Flow of Funds Section.

TABLE 14-B

Period

Currency
and demand
deposits to
liquid assets
12

Bank
liability
to liquid
assets
13

Time deposits
at thrift
institutions to
liquid assets
14

Liquid
assets
to GNP
15

Currency
and demand
deposits
to GNP
16

1965—Dec.
1966--Dec.
1967--Dec.
1968—Dec.
1969--Dec.
1970--Dec.
1971--Dec.
1972--Dec.

27.7
27.0
26.5
26.2
25.9
25.7
24.7
23.7

46.2
46.1
47.6
48.1
45.1
47.8
49.0
49.0

30.4
30.0
30.3
29.5
29.5
29.6
31.4
32.6

78.9 •
77.3
77.6
77.5
77.3
77.4
79.0
80.2

22.1
21.2
20.8
20.4
20.2
20.1
19.9
19.4

1971--March
June
Sept.
Dec.

25.3
25.5
25.2
24.7

48.7
49.1
48.9
49.0

30.1
30.6
31.1
31.4

78.0
78.7
79.6
79.7

19.8
20.0
20.1
19.8

1972--March
June
Sept.
Dec.

24.6
24.2
24.0
23.7

49.2
49.2
49.2
49.0

31.9
32.2
32.6
32.6

79.6
79.9
80.5
80.6

19.6
19.5
19.4
19.2

1972--Jan.
Feb.
March
April
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

24.5
24.6
24.6
24.5
24.3
24.2
.24.2
24.0
24.0
23.9
23.7
23.7

49.1
49.2
49.2
49.2
49.2
49.2
49.2
49.3
49.2
49.1
49.0
49.0

31.6
31.8
31.9
32.0
32.1
32.2
32.3
32.4
32.6
32.7
32.7
32.6

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

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

1973--Jan. p

23.5

49.1

32.8

n.a.

n .a.







TABLE 14-C
Liquid Asset Holdings

Sum of columns 2 and 7.
Sum of columns 3, 4, 5, and 6.
Money stock components after deducting foreign holdings
and holdings by domestic financial institutions. The
three columns add to Mg held by domestic nonfinaneial
sectors .
Deposits at nonbank thrift institutions, as 'published
in money stock statistics, plus monthlyaverage deposits
at credit unions.
.
Sum of columns 8, 9, 10, and 11.
Negotiable certificates of deposits over $100,000 at
weekly reporting banks, except foreign holdings .
Commercial paper held outside banks and other financial
institutions.
Short-term marketable U.S. Government securities excluding official, foreign, and financial institution holdings.
All issues due in one year or less, including bonds and
notes, plus a sliding proportion of issues due in 13 to
24 months.
Series E and H savings bonds held by individuals.
Sum of columns 3 and 4 to column 1.
Sum of columns 4, 5, and 8 to column 1.
Column 6 to column 1.
Column 1 to GNP. Annual averages are based on 12-month
averages of column 1 and annual GNP. Quarterly averages
are based on 3-month averages of column 1 and quarterly
GNP.
Sum of columns 3 and 4 to GNP. Annual averages are based
on 12-month average of columns 3 and 4 and annual GNP.
Quarterly averages are based on 3-month average of columns
3 and 4 and quarterly GNP.