The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
BANKING AND MONETARY DEVELOPMENTS IN JANUARY 1961 Bank credit* Total c r e d i t a t a l l commercial banks declined $2.1 b i l l i o n i n January, following a $3.8 b i l l i o n r i s e i n Decenfcer, a postwar record expansion. The January reduction, which was mostly a t weekly reporting banks i n leading citiest, was smaller than t h e sharp declines in t h e comparable periods of I960 f 1958# and 1957> but l a r g e r than i n most other y e a r s . The loan decline of $3 b i l l i o n in January probably exceeded t h a t of any past year, but i t followed r e l a t i v e l y l a r g e December loan growth, l a r g e l y in s e c u r i t y and finance company borrowing. Holdings of U. S. Government s e c u r i t i e s increased $900 million in January, l a r g e l y in Treasury b i l l s . Usually Government s e c u r i t y holdings have declined i n t h i s month, even i n some cases where there has been subs t a n t i a l Treasury cash financing. In January 1961, the weekly Treasury b i l l i s s u e was increased by $100 million on the 19th and by $200 million on the 26th (not included in the January reporting period) • Bank holdings of other s e c u r i t i e s continued to r i s e in January. Business loans a t a l l commercial banks declined $1 b i l l i o n in January, somewhat more than l a s t year but about i n l i n e with reductions in the 1957-59 p e r i o d . However, business borrowing i n December and i n the second half of I960 had been smaller than usual. About t h r e e - f i f t h s of the t o t a l decline a t weekly reporting banks was in n e t loan repayments by food processors and trade concerns which were l a r g e r than u s u a l . Loans t o metals manufacturers, which had increased temporarily i n December, declined by a record amount in January. However, loans t o petroleum and chemicals companies rose more than i n any other year. Loans t o " a l l other businesses", including those to t h e service i n d u s t r i e s , increased whereas they have always declined in t h i s period b e f o r e . Loans to nonbank f i n a n c i a l i n s t i t u t i o n s declined $900 million i n January more than o f f s e t t i n g t h e unusually l a r g e December r i s e associated with t a x related borrowing by finance companies. Security loans declined $800 million in January, about o f f s e t t i n g t h e record December r i s e . Government s e c u r i t y dealers who had accounted f o r most of the December r i s e , accounted f o r s l i g h t l y over half the January d e c l i n e . Real e s t a t e loans dropped somewhat f u r t h e r a t c i t y banks i n January and probably showed l i t t l e f u r t h e r change a t other banks. Growth i n these loans i n the second half of I960 had been unusually small. Consumer loans a t a l l commercial banks probably declined moderately in January through the 25th (the end of the banking reporting p e r i o d ) . On January 31# these loans rose $1.1 b i l l i o n r e f l e c t i n g mainly t h e s a l e of customer accounts receivable by Sears Roebuck, who placed most of the funds i n time c e r t i f i c a t e s of deposit. FEDERAL RESERVE BANK of KANSAS CITY FEB 2 3 1961 — Research Library — Deposit r a t i o s . The r a t i o of t o t a l loans t o t o t a l deposits a t a l l commercial banks declined f a r t h e r t o 5k«5 p e r cent i n January from 5 5 * 5 per cent i n December. The r a t i o declined a t a l l c l a s s e s of banks but e s p e c i a l l y r a p i d l y a t c e n t r a l reserve c i t y banks i n New York, At a l l commercial banks, the r a t i o i s now a t about t h e same l e v e l as i n January I960; i t had reached a peak of 57.1 per cent i n June. Compared with a year ago, r a t i o s are much lower a t c e n t r a l reserve c i t y banks i n New York, about the same a t c e n t r a l reserve c i t y banks in Chicago and a t reserve c i t y banks, and somewhat higher a t country banks. The r a t i o of U. S. Government s e c u r i t i e s maturing within one year t o t o t a l deposits rose f u r t h e r t o 8.3 per cent, the highest l e v e l since the end of 1958. Money supply. The d a i l y average money supply increased $560 million on a seasonally adjusted b a s i s between the second h a l f of December and the second h a l f of January. This followed a r i s e of $600 million i n the comparable period a month e a r l i e r . Since t h e June low, the money supply has increased a t an annual r a t e of about 2 per cent but i t i s s t i l l $300 million below January a year ago. The seasonally adjusted l a s t Wednesday of #onth money supply s e r i e s increased #1.6 b i l l i o n i n January and i s now $1*00 million above the year-ago l e v e l . U. S. Government deposits a t commercial banks declined #2.1* b i l l i o n between t h e l a s t Wednesday of December and the l a s t Wednesday of January, considerably more than u s u a l . These deposits had increased in December whereas often they decline i n t h a t month. Continuing rapid growth t h a t began around mid-1960, seasonally adjusted time deposits a t a l l domme r c i a l banks increased $700 million f u r t h e r i n January. Since June, they have been increasing a t an awrm»T r a t e of lit per c e n t . Deposit turnover. The seasonally adjusted annual r a t e of demand deposit turnover a t b a n k s o u t s i d e New York and other f i n a n c i a l centers increased from 25.1 per cent i n December t o 25.8 per cent (preliminary) i n January. This was about 3 per cent above the l e v e l in January I960. Over I960, on t h e average, turnover increased 5 per c e n t , but i n t h e l a t t e r p a r t of the year i t had tended to recede somewhat from e a r l i e r highs. Bank reserves. Member bank reserve p o s i t i o n s remained easy i n January, with f r e e reserves averaging $695 million about t h e same as i n December. By c l a s s of bank, as w e l l , there was l i t t l e change i n reserve positions in January. During the weeks ending February 1 and 8, however, the l e v e l of f r e e reserves propped t o an average of $M5 m i l l i o n . During January, on a d a i l y average b a s i s , reserves were supplied p r i n c i p a l l y by a $755 million inflow of currency from c i r c u l a t i o n . Reductions i n Treasury deposits a t the Reserve Banks and i n nanmember deposits and other F. R. accounts a l s o supplied r e s e r v e s . Required reserves increased $55 m i l l i o n , whereas u s u a l l y they decline i n t h i s month. Reserves were absorbed i n January by a $210 million reduction i n f l o a t , only about half the December r i s e . Gold stock declined f u r t h e r by #390 m i l l i o n . Federal Reserve holdings of U. S. Government s e c u r i t i e s were reduced $30$ m i l l i o n , a considerably smaller decline than u s u a l . Banking Section, Division of Research and S t a t i s t i c s , Board of Governors of t h e Federal Reserve Syst&m February 16, 1961 Not f o r publication - it Table 1 L.li.3 Estimated Changes i n Loans and Investments a t All Commercial Banks (In b i l l i o n s of" dollars) Item Total loans ( l e s s interbank) eBusiness (excluding nonbank f i n a n c i a l or sales finance companies) 2/ Nonbank finane a i l ~ Sales finance companies (Business (including nonbank f i n a n c i a l or sales finance companies)) ^Real estate Security Agricultural Consumer, All other 2/ pU« S. Government s e c u r i t i e s Other s e c u r i t i e s Total (less bank) Item Total loans ( l e s s interbank) Business I excluding nonbank f i n a n c i a l — or sales finance companies) 2 / Nonbank f i n a n c i a l ~ Sales finance companies (Business (including nonbank f i n a n c i a l or sales finance companies)) Real e s t a t e ^Security Agricultural Consumer All other 2/ U . S . Government s e c u r i t i e s ^Other s e c u r i t i e s End of December t o l a s t Wednesday of Jannyrv 3 / 1956 I960 1959 6/ 1958 1961 1957 — 3*1 * 2.6 - 1.6 - 2*7 - 2.0 - 1.1 - 1.0 — 0.8 ~ 0.9 , n.a. — 0*3 — 1.1 ~ 0.9 n.a. — 0.3 n.a. ™ 0.9 y — 0.8 y - 1.9 i / — 1*6 5 / - 1.2 1/ * 0.3 -0.9 — n*8 — o*5 — 0.1 1/ y - 1*7 1/ • $.6 • + o.i - 0*2 - 1*1 -¥.6 - 0.2 - 0.5 + o.i - o.U - 0.1 — 0*1 + 0.1 - 0.1 + 1*1 — o*5 - 0.9 - 0.7 - 0.2 *= 0 * 2 y — 0*1 - 0.2 - 3*9 — 0*6 - 3»1 - 2.9 — 2.0 + 0*2 0.9 — 0.9 0.1 2.1 - 0.2 - 0.6 — 0*2 + 0.1 y — Oel n.a* - 0.2 - 0.1 End of December t o l a s t Wednesday of January 3 / 1953 1952 - loii — 0.6 - 0*9 - 0.3 n# a . — O.li Ho cio «* 0.2 - 0.3 n» a« « Oel - 0.3 + 0.2 - 0.5 •= 0.6 «* O.li + 0.1 « 0.5 1955 — 0.6 y # v + O.li 1952* -M? + 0.1 — 0.1 - 0.1 + 0.8 y n.a. n.a. n.a© — 0.3 y + 0.1 + 0.1 - 0.2 - o.5 + 0.5 + 0.1 y 1951 + 0.1 n.a. n©a. n.a. 1950 — 0*3 n.a. n.a* n.a. + 0.1* + 0*1 - 0.3 1/ 1/ + 0.1 + 0*2 - 0*3 *» 0*1 - 2.0 + 1*0 V. y + 0*1 + 0*8 *" 0.2 - 1.2 - 0.7 - 0.5 - 1.9 Total (less bank) Less than $50 million, n . a . Not available. 2 / Data are on revised b a s i s beginning June 1959 and exclude loans t o nonbank f i n a n c i a l i n s t i t u t i o n s . For previous years, loans t o sales finance companies a t weekly reporting banks have been shown separately t o provide roughly comparable changes i n business loans on revised b a s i s . 3 / Except f o r I960, which i s f o r December 28, dates are f o r December 31. h / Included with nonbank f i n a n c i a l . 5/ Not s t r i c t l y comparable with previous data ™ since a l l nonbank f i n a n c i a l are included r a t h e r than sales finance only. 6/ As a r e s u l t of s t r u c t u r a l changes, t o t a l commercial bank c r e d i t increased over $1*00 million; loans about $250 m i l l i o n j U. S. Government s e c u r i t y holders about $100 million; other http://fraser.stlouisfed.org/ s e c u r i t i e s , $50 million. Federal Reserve Bank of St. Louis L.4.3 ' i ' - 5 Table 1 Estimated Changes in Loans and Investments a t All Commercial Banks (In b i l l i o n s of dollars) Item Total loans ( l e s s interbank) Business (excluding nonbank f i n a n c i a l or sales finance companies) 2/ Nonbank f i n a n c i a l Sales finance companies (Business (including nonbank f i n a n c i a l or s a l e s finance companies)) Real e s t a t e Security Agricultural Consumer All other 2/ Last Wednesday of Nov,, to end of Dec. 3/ I960 1956 1958 1957 1955 1959 +2.8 +1.8 +2.7 +1.7 +1.5 +2.4 +0.3 +0.8 +0.8 +0.9 kA +0.6 n.a. +0.5 +0.3 n.a. +0.6 +0.4 n.a. +0.5 +0.4 n.a. +0.5 +0.1 +0.9 +®yi y <+0.9) +0.1 +0.6 +0.1 +0.1 y +0.3 +0.1 +0.1 +0.1 (+0.9) +0.1 +0.5 +0.2 +0.2 +75.2 (+1.1) +0.3 +0.8 +0.1 +0.2 +0.3 (+0.9) 1/ +0.2 +0.8 +0.1 +0.2 U. S. Government s e c u r i t i e s *0.9 +0.4 -1.3 +1.3 +0.4 Other s e c u r i t i e s *0.5 +0.2 +0.3 +0.5 y *3.8 +3.4 +1.7 +3.4 +1.8 Total ( l e s s bank) Item y y +0.2 +0.1 +2.1 Last Wednesday of Nov. to end of Dec. 3/ "193T 1950 1952 i 5 5 i r "1953" w +1.1 +1.0 +1.0 +0.4 +0.7 +1.5 Total loans ( l e s s interbank) Business (excluding nonbankfinancial +0.1 or sales finance companies) 2/ n.a. Nonbank f i n a n c i a l +0.2 Sales finance companies (Business (including nonbank f i n a n (+0.3) cial or sales finance companies)) +0.2 Real estate +0.7 Security +0.1 Agricultural +0.1 Consumer +0.1 All other 2/ 1/ n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. (+0.6) (+0.8) +0.1 +0.1 n.a. n.a. n.a. n.a. 1/ (+0.4) +0.1 +0.4 -0.2 +0.3 +0.1 -0.1 +0.1 n.a. -0.8 n.a. +0.2 (-0.6) H +0.6c +0.5 +0.1 n.a. +0.4 +0.1 +0.4 1/ +0.1 i/ +0.1 U. S. Government s e c u r i t i e s -1.1 —0.3 -0.8 -0.1 +0.3 +0.1 Other s e c u r i t i e s +0.1 +0.1 —0.1 +0.3 +0.3 +0.2 +0.6 +0.6 +1.6 +0.6 +0.2 +1.3 Total ( l e s s bank) \ J Less than $50 million, n.a.--Not a v a i l a b l e . 2/ Data are on revised basis beginning June 1959 and exclude loans to nonbank f i n a n c i a l i n s t i t u t i o n s . For previous years, loans t o sales finance companies a t weekly reporting banks have been shown separately t o provide roughly comparable changes in business loans on revised b a s i s . V Except for I960,which i s f o r December 28, dates are f o r December 31. U/ Included with nonbank f i n a n c i a l . 2 / s t r i c t l y comparable with previous data since a l l nonbank f i n a n c i a l are included rather than sales finance only. Not for Publication * 6 *' Table 1 IU.3 Hot f o r p u b l i c a t i o n Estimated Changes i n Loans and Investments a t A l l Commercial Banks (In b i l l i o n s of d o l l a r s ) Item End of June t o end of December 6/ I960 3/11959 3/4/11956 3/11957 3/1 1 9 ^ Total loans ( l e s s interbank) +3.2 Business (excluding n o n b a n k f i n a n c i a l or s a l e s f i n a n c e companies ) 2 / +0.5 Nonbank f i n a n c i a l •0.1 Sales finance companies (Business ( i n c l u d i n g nonbank f i n a n c i a l or s a l e s finance companies)) * & +0.4 Real e s t a t e +1.3 / Security+0A Agricultural +0.3 Consumer +0.2 A l l other 2 / +7.2 +3.6 +1.2 +3.4 +7.3 +2.4 +1.2 n.a. +0.3 +0.1 n.a. +2.5 %/+3.7 n.a. +0.7 +1.2 8 if U+1.26) +0,8 (+1.5) +1.6 U. S. Gove r n m & i t ' s e c u r i t i e s +7.1 -2.0 ! ] I I ; Other s e c u r i t i e s +0,9 -0.1 +11.2 • +5.3 Total ( l e s s bank) Item *13 +0.5 -1.0 +0.4 +0.2 +0.9 -0.1 (V) +0.5 +0.3 +0.1 +0.4 +0.1 +2.2 n.a. +0.1 (+2.6) J + 4 . 4 ) 5 / +0.7 fy+1.0 +0.6 -0.2 +0.1 -0.1 +1.1 +0.4 +0.2 +0.2 +2.7 +1.9 -1.7 ; +0.4 +1.1 -0.2 -0.1 | +6.2 +5.0 +5.1 +5.5 End of June t o end of December 6/ "1952 1951 T551T 1950 1953 Total loans ( l e s s interbank) +3.2 Business (excluding nonbank f i n a n c i a l +0.7 or sales f i n a n c e companies) 2/ n.a. Nonbank f i n a n c i a l Sales f i n a n c e companies V (Business (including nonbank f i n a n c i a l or s a l e s f i n a n c e companies )) (+0.7) +1.2 Real e s t a t e +0.7 Security+0.1 Agricultural +0.1 Consumer +0.1* A l l other 2/ 1955 1959 +2.6 +4.9 +2.9 +7.5 +1.9 -0.1 n.a. -0.1 +2.1 n.a. +0.5 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. (-0.2) (+2.6) +0.7 +0.1 +0.3 (+2.2) +0.4 —0.1 +0.3 (+5.0) +0.3 y 1/ +0.1 +0^8 +0.6 (+0.6) +0.5 -0.3 +0.2 +0.7 +0.3 +o.5 +0.8 +1.3 +0.3 +1.1 +1.1 +0.1 U. S. Government s e c u r i t i e s +5.5 +4.8 +2.1 +3.0 -3.7 +3* 8 Other s e c u r i t i e s +0.8 +0.4 +0.1 +0.6 +1.2 ; +0.7 +6.6 +7.2 Total ( l e s s bank) +9.5 +4.9 1+6.4 +7.7 17 Less than $50 m i l l i o n , n.a,—Not a v a i l a b l e . 2/ Data a r e on revised b a s i s beginning June 1959 and exclude loans to nonbank f i n a n c i a l i n s t i t u t i o n s . For previous y e a r s , loans to s a l e s f i n a n c e companies a t weekly r e p o r t i n g banks have been shown s e p a r a t e l y to provide roughly comparable changes i n business loans on revised b a s i s . J / Data a r e f o r l a s t Wednesday of June. 4 / Total c r e d i t increased about $300 million as a r e s u l t of bank s t r u c t u r e changesj l o a n s i n c r e a s e d about $200 m i l l i o n and U. S. Government s e c u r i t i e s about $100 m i l l i o n . £ / In October 1955, t h e l e v e l of business loans was increased by, and t h a t of r e a l e s t a t e l o a n s decreased by, $300 m i l l i o n to c o r r e c t c l a s s i f i c a t i o n e r r o r s . 6/ Except f o r i960, which i s f o r December 28, dates a r e f o r December 31. j J Included with nonbank f i n a n c i a l . 8 / Not s t r i c t l y Digitized comparable for FRASER with previous data since a l l nonbank f i n a n c i a l a r e included r a t h e r than http://fraser.stlouisfed.org/ s a l e s f i n a n c e only. Federal Reserve Bank of St. Louis - 7 Table 2 L.U.3 Changes i n Seems and Investments a t Weekly Reporting Menber Banks and Saareportiag Bank? ( & b i l l i o n s of d t i l i e l i y End of December t o l a s t Wednesday i n January Item 1961 Weekly reporting banks 196© 1959 1958 1957 1956 - 2 .It — 0.8 - 0.2 - 3.5 - 1.5 + 0.2 — 0*1 — l.il — 2.U — 0.5 > 0.1 " 2.8 • 2o0 0#6 - 0.1 *» 2#6 - 0.8 — 0.6 2/ — 1.5 — 0.2 •» 0 . 1 2/ m - o.i y + 0.93/ - o.iy - 0.3 : & 2/ — 0.3 - 0.3 - 0.1 — 0.2 - o.B 1/ Total loans U. S. Government s e c u r i t i e s Other s e c u r i t i e s Total l o a n s a n d investments + + - 2.5 0.5 0.1 1.$ Naar@B&fting banks 1 / Total loans U. S. Government s e c u r i t i e s Other s e c u r i t i e s Total loans and investments - 0.6 + o.U 2/ — 0.2 End of Beceriber t o l a s t Wednesday i n January Item 1955 Weekly reporting banks * - § a — 0.3 195k 1953 1952 1951 195b 1/ Total loans U. S. Government s e c u r i t i e s Other s e c u r i t i e s Total loans and investments — 0.6 - 0.5 + 0.3 •» 0.0 + + Z 2/ + 5.5 + 9.1 + 0.6 + 0.3 * 0.3 - 0.1 T-CT l.f 0.5 0.1 73 - 0.7 — 6*8 + 0.1 — 1.5 — 0*1 - 0.7 + 032'"' - - 2*2 2/ 2/ «• O.Zt - 2.3 + 0.1 + 0.3 - 0.2 + 0.3 2/ - 0.1 + + + 0.3 0.6 0.1 0.lt Kfonreporting banks 1 / Total loans U. S. Government Other s e c u r i t i e s Total loans and investments y */ To"J + 0.2 • 0*2 2/ + 0*& +¥.h i? TC5 Beginning 1959* changes are on revised basis* Changes may not correspond exactly with published data f o r weekly reporting banks because loans t o . foreign banks have been excluded from t h i s t a b u l a t i o n . Also, c a l l report data f o r December 31, 1959, have been used* Less than $50 million* In January 1959, t o t a l c r e d i t increased over $it00 million as a r e s u l t of bank s t r u c t u r e changes? l o a n s , $300 million; U* S. Government s e c u r i t i e s , $100 million; and other s e c u r i t i e s , $100 million. H, 0 Not f o r publication Table 2 L.ii.3 Changes in tod Investments at Weekly Reporting Mentoer Basaks and Nonrei ( i n t r l l i i c m s 4f Last Wednesday i n November t o l a s t Wednesday in December Item 1960 Weekly r e p o r t i n g banks 1958 1957 1956 1955 1/ T o t a l loans U. S . Government s e c u r i t i e s Other s e c u r i t i e s T o t a l loans and investments , 1959 + 1.0 + 2.0 + 1.7 + 0.9 + 0.5 +13J - 0.6 + 0.1 TX5 + 0.5 - 0.1 - 0.1 + 0.2 + 0.1 + 0.8 - 0.3 TCT + 0.7 • l.lt % a r # # * t W banks 1 / T o t a l loans U. S. Government s e c u r i t i e s Other s e c u r i t i e s Total l o a n s and investments ( ! * 0.3 A X 7-5% + 0.8 - 0.7 tM + 0.1; - 0.1 — 0.1 + 0.2 Last Wednesday i n November t o l a s t Wednesday in December Item Weekly r e p o r t i n g banks + 0.7 195h 1953 + 1.0 + 0.7 TW5 + 0.1 + 0.8 1952 1951 1950 191*9 + 0.3 + 0.2 1/ T o t a l loans U. S. Government s e c u r i t i e s Other s e c u r i t i e s Total loans and investments - 0.5 + o.i + 0.1 + 0.9 +1.0 + 1.0 — 0.1 + 0.3 TT3 7T3F — 0.6 + O.lt + 0.7 + 0.2 + 0.1 + 0.1 + 0.1 - 0.1 + 0.6 Nonreporting banks 1/ T o t a l loans U. S. Government Other s e c u r i t i e s Total loans and investments > 1/ 2/ + 0.5 «• 0 . 6 if y. • U.lt 2/ + 0.1 - 0.2 2/ + 0.1 — O.lt * 0.1 ^ o 3 Beginning 1959, changes a r e on revised b a s i s . Changes may not correspond e x a c t l y with published d a t a f o r weekly r e p o r t i n g banks because lo*ns t o f o r e i g n banks have been excluded from t h i s t a b u l a t i o n . Also, c a l l r e p o r t d a t a f o r December 31, 1959, have been u s e d . « Less than $50 m i l l i o n . Digitized # N o tforfFRASER o r publication - 9 L.U.3 Table 2 Changes in $ean» and Investments a t Weekly Reporting M e # e r BaEaks and Sonreporting Batiks 0 n \ W ± m M of m S f t Last Wednesday i n June t o l a s t Wednesday i n December Item 1960 Weekly reporting banks 1958 1956 1957 1955 1/ Total loans U. S. Government s e c u r i t i e s Other s e c u r i t i e s Total l o a n s and investments 0 1959 + + + + 1*5 iuB 0.7 7.0 ' g.l - 2.5 - 0.4 4 2.3 +. 1.6 - 0.7 - 0*1 + 0.7 + + + + 0.2 1.5 0.3 2.0 + 2.6 + 0.1 - O.lt + 2.3 + + 1.7 2.0 0.5 2.3 + + + + + + • + 1.0 1.2 0.8 3.0 + + + + 0.8 1.8 0.2 2.8 + + + + 2.6 0.3 O.lt 5.2 Bonr$®oi*ting banks 1 / Total loans U. S. Government s e c u r i t i e s Other s e c u r i t i e s Total loans and investments f Weekly reporting banks 1951 1953 1952 1951 + 2.0 + 3.2 + o.lt + 1.6 + 3.6 + 0.1 7 3 3 + 3.6 + 2.6 + 1.3 K • Total loans U. S. Government Other s e c u r i t i e s Total loans and investments + + • + 3.6 19lt9 6.0 3.0 0.8 3.8 ' Nonreporting banks 1 / 0 1950 1/ Total loans U. S. Government s e c u r i t i e s Other s e c u r i t i e s Total loans and investments 0 2.0 2.9 0.5 5.S Last Wednesday i n June t o l a s t Wednesday i n December Item # + 1.7 + 2.3 + 0.2 TTu? + 1.2 + 2.3 + 1.0 + 1.2 + + + + 1.3 2.1 0.1 13 + + + + 0.3 1.7 0.3 2*1 + 1*0 + 3.3 i + + + 1.5 0.7 O.lt 1*1 + + + + 0.9 0.5 0.2 13 i/ Beginning 1959, changes are on revised basis* Changes may not correspond exactly with published data f o r weekly reporting banks because loans t o foreign banks have been excluded from t h i s t a b u l a t i o n . Also, c a l l report data f o r December 31, 1959 have been used. 2/ Less than $50 m i l l i o n . # 3/ ~ Total c r e d i t a t ncnreporting banks increased about $300 million as a r e s u l t of bank s t r u c t u r e changes; loans increased about $200 million and U. S. Government s e c u r i t i e s about $100 million* Digitized # N o tforfFRASER o r publication - 10 - L.U.3 Table 3 Changes i n Commercial and I n d u s t r i a l Loans 1 / (In millions of d o l l a r s ) ~ Business of Borrower Last Wednesday i n Decesfcer t o l a s t Wednesday in January 1961 1959 19# 1927 V 19*6 1925 195k 1953 Food processors Commodity dealers Trade concerns Total 216 - 137 - 151 - 227 - 221 Sales finance 2/ Metals and products T e x t i l e s , apparel and l e a t h e r Petroleum, coal e t c . Other manufacturing and mining Public u t i l i t i e s Construction All other types of business Classified Unclassified Total change Total change excluding sales finance l/ 2/ 3/ %/ - 119 - 82 - 116 Til? 113 22 - 113 « 6© - 10 - 53 38 68 236 - 103 - 9k - 206 - 213 T m - 467 - 219 - 29 + 88 5 - 153 - 106 * 61 - kk - k9 66 7 - 152 + 90 15 k - 12 • 71 - 22 25 • 33 25 6 U8 8h • • 32 89 - 26k - 571 - 169 - 221 • 3/ - 179 - 97 - 37 - 108 - 21*2 - 75 - 28 - 18 20 — lit — 2 8 - 29 2k - 109 - 81 + 86 hO - 23 - 2k - 36 • + 1*5 - 72 - 112 — 81 - 130 - 81* 28 + ll| • - 101* - 6 2 1© - 10 - 31 - 10 65 9 — 16 + 25 k + k - 11 k - 80 - 1*3 - k6 - 669 - W 5 • 81i8 -1,318 - 775 - 331 - 371 - 737 - 2 1 9 - 1 1 2 - 20U - 271 — 281 - 173 - 139 58 - 11*2 - 160 - 781 - 609 -1,119 -1,599 - 9I4.8 - 781 - 60 9 — 855-1, - 779 - 21*9^- l*3b - 725 - 273 y-1»29 — 878 - 379 Prior t o week ending January 11, 195&, includes changes i n a g r i c u l t u r a l loans. Not included i n business loans on revised b a s i s . In order t o keep comparison on a four-week b a s i s , Dec. 26-Jan, 23 was used. Includes CCC c e r t i f i c a t e s of i n t e r e s t which a r e estimated t o have declined $85 m i l l i o n . Not f o r publication L.li.3 -11 - Table 3 Changes i n Commercial and I n d u s t r i a l Loans 1 / (In millions of d o l l a r s ) ~ Business of Borrower Food processors Commodity dealers Trade concerns Total Last Wednesday In November t o l a s t Wednesday in December I960 1959 3 1958 3 ' 1957 1956 1955 1954'3 f1953 3 '1952 3 / +148 +125 + 12 + 9 zizk -153 + 99 + 88 -14? + 38 +168 +104 Z_Z8 +194 + + 2/ +438 +472 +516 9 +139 +102 + 94 - 42 + 97 + 9 + 57 - 26 + 56 + 15 +118 + 14 + 6 +119 + 26 + 69 + 57 62 7 44 11 60 37 77 20 + 59 + 19 + 45 - 16 -1?8 -124 - 5^ -121 +482 +183 +148 +374 +153 +145 - 14 - 64 + 45 + 52 + 3 - 58 + 2 + 56 - 2 + 42 - 22 - 30 + 33 + 40 - 10 +170 + 7 - 50 +109 + 14 - 8 +136 - 9 + 8 - 31 + 5 -13 + 67 +15 - 25 - 25 + 43 + 25 - 8 - 15 + 94 +115 + 77 + 22 + 58 - 34 • 36 + 62 +120 + 62 +413 + 37 +674 + 54 +779 - 19 +948 - 28 +734 - 41 +264 - 55 + 89 +356 +157 - 96 Total change +182 +450 +728 +760 +920 +693 4/+209 2/+246 +260 Total change excluding sales finance +182 +450 +290 *288 +404 +211 Sales finance Metals and products T e x t i l e s , apparel and l e a t h e r Petroleum, coal e t c . Other manufacturing and mining Public u t i l i t i e s Construction All other types of business 1 Classified Unclassified 1 + k9 s/ + + + + y+26 2/* 98 -114 l / Prior t o week ending January TT% 1 / No"t included in business loans on revised b a s i s , 2 / I n order t o keep comparisons on a four-week b a s i s , the following dates were used: 1959, Dec. 2-Dec. 30; 1958, Dec. 3-Dec. 31; 1957, Nov. 27-Dec. 25; 1954, Dec. 1-29: > 1953, Dec. 2-30; 1952, Dec. 30-Dec. 31. 4 / Includes CCC c e r t i f i c a t e s of i n t e r e s t which are estimated t o have declined $7 m i l l i o n . 3./ Includes CCC c e r t i f i c a t e s of i n t e r e s t which are estimated t o have increased $235 m i l l i o n . J J o t f o r publication L.U.3 - 12 - Table 3 Changes i n Commercial and I n d u s t r i a l Loans 1 / (In millions of dollars) Business of Borrower Food processors Commodity dealers Trade concerns Total Sales finance Metals and products T e x t i l e s , apparel and l e a t h e r Petroleum, coal e t c . Other manufacturing and mining Public u t i l i t i e s Construction All other types of business Classified Unclassified Total change Total change excluding sales finance Last Wednesday in June t o l a s t Wednesday in December I960 1959 IX1958 2/ L957 1956 1955 1954 1953 1952 +638 +522 +729 +410 - 26 +128 +162 +1,060 +175^ +1,094 +579 +507 +331 +822 +480 +498 +420 +739 +469 +539 - 8 +178 +327 +120 +7^3 +1,739 +1,276 +1,157 +501 +75% +380 +662 + 1 +l4l 3552 +1,557 6/+134 +294 -108 + 98 +704 + 32 -138 +544 -665 -128 -454 -496 - 71 +224 -548 -351 + 1 -215 + 58 - 53 +228 -232 - 14 -159 +150 - 6 +428 + 71 +208 - 26 + 88 -101 +102 - 40 4250 ~ 29 + 6l + 35 + 15 +495 -121 + 12 +234 + 50 -l6l +183 - 49 + 72 +350 - 66 + 63 + 27 +106 - 62 -225 + 82 - 54 + 18 - 23 + 36 - 57 + 13 +310 °~ 16 +362 + 58 +176 +370 +132 + 98 +191 5/ +615 +2,181 +1,214 -316 -175 -197 +161 +2,719 +3,050 +630 +433 +2,494 -260 2/-162 1 / - 91 4/+150 - 59 -457 +299 +2,006 +1,017 -296 +2,459 +299 +1,872 2/ -188 +2,361 +2,184 1/+507 4/+721 +1,891 +723 U,W8 1/+539 A/+583 +2,435 J-/ iij-v/j. vv wacy. cixuuig uoiiuoijr -L-L, jjiv<j.uuoo i<uougco -Hi agixum.uUXcJLX -LUcUlO* ? / Includes CCC c e r t i f i c a t e s of i n t e r e s t which are estimated t o have declined $300 million. 2 / Includes CCC c e r t i f i c a t e s of i n t e r e s t which are estimated t o have increased $346 million. 4 / Includes CCC c e r t i f i c a t e s of i n t e r e s t which are estimated t o have increased $410 million. / Not included in business loans on revised b a s i s . _ / Week of July 1 on old b a s i s . 2 / Prior t o July 1, 1959 data have not been revised f o r a d d i t i o n a l banks and coverage § % '.Not f o r publication Table 1* Estimated Changes i n Deposits and Currency IIn b i l l i o n s of d o l l a r s ) Item I960 it half E Seasonally adjusted data 1/ Demand deposit component Currency component Total Seasonally adjusted data £ / > Demand deposits adjusted"* Currency outside banks Total Seasonally unadjusted data 2 / Demand deposits a d j u s t e d I Currency outside banks Total Time deposits Commercial banks Mutual savings banks U. S. Government deposits > Total Factors a f f e c t i n g deposits and and currency Bank loans and investments other than Ue S. Govt, sec. k / i Commercial ™ Mutual savings Bank holdings of U. S» Government s e c u r i t i e s ? Federal Reserve Commercial 1 Mutual savings and other Gold stock and foreign deposits a t F. R„ Banks Other f a c t o r s 11959 5 / 1958 1957 I 1956 cember t o l a s t lalf of January + 0.3 + 0,1 + 0.3 December to + l.lt + 0.2 + 1.6 - 0.3 • 0.1 - 0.5 + «* =* + + + - " = «= 0.1 0.8 0.7 0.9 0.8 0.1 2oh l.li 1.5 2.9 0.8 - 0.7 3/ - loll = 5.1 a s t Wednesday of Jan. + 0.8 = O.Ii + 0.1 - 0.1 - 0.1 + 0.2 + 0.7 — o.5 + 0.3 - 1.7 = 1.1 + 0.1 + 0.2 - 0.2 + o.i* - 2.1t -=>2.7 1.0 - 3.7 > 0.7 + 0.5 + 0.2 = 1.8 • 0.2 - 0.1 = 0.3 -=•1.9 0.9 + 0.7 + 0.6 + 0.1 ° 2.0 = lt.0 e f f e c t <»n deposi - >8 and c - 2. — -3«0 - 2.1 - 3.0 - 2.9 + 0.8 • 0.2 - 0.1 + o.lt — 2.2 + 0.3 rxi + 0.9 - 0.9 -+ 0.9 1.1 3/ = 0.1 3 / - O.ii + 0.1 = 0.1 + 0.2 , 2/ - 0.5 - 2o5 - 2.2 « 1.2 - 2.7 - 2.0 + o«b + 0.2 + 0.2 = 1.5 — 2. It *» 1.9 - 0.9 5 ^%3 = o*5 -=»1 .0.9 - 0.7 - Ool 1/ 3/ + 0.1 + 0.3 - 0.7 + 0.3 - l / Averages of d a i l y f i g u r e s t >2/ Seasonally adjusted data are f o r l a s t Wednesday throughout; unadjusted data are f o r l a s t Wednesday except in case of June and December c a l l d a t e s , when a v a i l a b l e . 3/ Less than $50 m i l l i o n . %/ Total includes foreign loans on gold, holdings of bankers' acceptances a t the Federal Reserve, and loans t o foreign banks| changes in these items are g e n e r a l l y r e l a t i v e l y small. Even i f t h e r e were no changes in other items, changes a t commercial banks J exclude a l l interbank loans, domestic and f o r e i g n , while t o t a l loans exclude only those t o domestic banks. Si addition there i s some lack of synchronization i n reporting a s s e t and l i a b i l i t y items used in computing "loans n e t . " 5 / As a r e s u l t of s t r u c t u r e changes i n January 1959, demand deposits adjusted increased $100 m i l l i o n j time deposits a t commercial banks increased # 0 0 m i l l i o n ; and deposits a t mutual savings banks declined $300 m i l l i o n . L.4 • 3 -14Table 4 Estimated Changes In Deposits and Currency (In b i l l i o n s of dollars) Item Seasonally adjusted data 1 / Demand deposit component Currency component Total Seasonally adjusted data 2/ Demand deposits adjusted Currency outside banks Total 0 Seasonally unadjusted data 2 / Demand deposits adjusted Currency outside banks Total Time deposits Commercial banks Mutual savings banks 0 D. S. Government deposits Total I960 1958 1957 1956 ] 1955 East 1lalf of November to l a s t haILf of December +0.6 —0.6 •0»h *0^5 -0.1 -3L -0.2 +0.2 +0.1 TO +0.3 -1Z_ +0.3 l a s t Wednesday of Dec 168 +0.2 +0.2 +2,6 +0.1 +2.7 r +1.3 +1.0 r +0.3 +0.4 r +luH Csigns Factors a f f e c t i n g deposits and currency 0 Bank loans and investments r +3.1 other than U. S. Govt, s e c . 4 / Commercial +2.9 Mutual savings +0.2 Bank holdings of U. S. Govt, securities: +0.7 Federal Reserve 0 —0.2 Commercial r +0.9 Mutual saving and other -0.1 Gold stock and foreign deposits a t F. R„ Banks -0.1 Other f a c t o r s +0.7 ¥ % 1959 +0.2 -0.1 +0.1 +0.1 +0.1 +0.2 +2.3 +0.3 +3.6 -0.1 733 +1.5 +1.1 -0.1 +0.1 17™ +0,1 -0,1 1T +0.5 -0.1 ion; +1.1 +1.0 +0.3 +0.5 +0.7 —1.4 +STT indicate e f f e c t on deposits and currency) +3.7 +3.7 +2.7 +2.0 +2.3 +2.9 +0.1 +3.1 +0.2 +2.2 +0.1 +1.3 +0.1 +1.9 +0.2 +o3 -1.3 —0.8 1/ +2.0 +0.7 +1.3 —0.1 +1.0 +0.6 +0.4 y +0.7 +03 +0.2 -0.1 +1.0 —0.1 +0.7 +0.1 +0.4 a/ +0.8 +0.1* -0.1 +0.4 —0.1 +0.1 +0.5 2/ Averages of daily f i g u r e s . Seasonally adjusted data are f o r l a s t Wechesday throughoutj unadjusted data are f o r l a s t Wednesday except in case of June and December c a l l dates, when a v a i l a b l e . Less than §50 m i l l i o n . Total includes foreign loans on gold, holdings of bankers' acceptances a t the Fedeis 1 Reserve, and loans to foreign banks; changes in these items a r e generally r e l a t i v e l y small. Even if there were no changes in other items, changes a t commercial banks exclude a l l interbank loans, domestic and f o r e i g n , while t o t a l leans exclude only those to domestic banks. In addition there i s some lack of synchronization in reporting asset and l i a b i l i t y items used in computing "loans n e t . " L.4.3 - — Table 4 Estimated Changes in Deposits and Currency (In b i l l i o n s of d o l l a r s ) Item Seasonally adjusted data l / Demand deposit component Currency component Total Demand deposits adjusted Currency outside banks Total Seasonally unadjusted data 2 / Demand deposits adjusted Currency outside banks Total Time deposits Commercial banks Mutual savings banks U. S. Government deposits Total 1958 1959 5 / 1957 1956 1955 Last half of June t o !Last half of Decern!>er + 1.0 - 1.2 - 0.8 + 2.9 + 0.4 + 0.3 + 0.1 - 0.1 4 0.2 + 0.2 + 0.3 •+ 1 . 1 - 1.2 + 3.1 + 0.7 + 0.6 Last Wednesday of June t o ]Last Wednesday of December + 1.0 0.1 - 0.7 + 3.5 - 1.5 If + 0.4 - 0.1 + 0.3 6.7 + 4.7 9.8 4.7 + 6.7 0.9 0.1 Osl 0.6 + 1.1 + 7.2 r + 4.& + 3.6 r+ 4+ + + r+10.% + 7-0 Jul 5*8 0.7 0.5 0.3 + 0.6 3.2 0-3. 0£ +10.7 + 2.7 + 1.6 + 1.2 Z-ltl +U3 + + + + Oil 5.2 2.7 2.1 0.8 0.5 774 -iZ. 4 6.7 + 1.6 + 0.9 + 0.8 - 1.6 + 6.7 1.0 0.4 T74 6.7 0.9 +T6 + 1.3 ToT6 + 0.8 - 1.4 + 7.5 (signs indicate e f f e c t on deposits and currency) r + p . ) + 4.1 + 1.1 CO O CM #3$ Factors a f f e c t i n g deposits and and currency Bank loans and investments other than U. S. Govt. sec. 4 / Commercial Mutual savings Bank holdings of U. S. Government s e c u r i t i e s : Federal Beserve Commercial Mutual savings and other Gold stock and f o r e i g n depos i t s a t F . B. Banks Other f a c t o r s I960 - 1.5 - 1.4 8.7 + 7.3 + 0.8 +lsl + 4.5 + 1.2 + 3.7 + 2.3 + 1.1 + 4.? + 3.2 4 1.2 + 8.4 + 7.1 + 1.1 + - + + + - + 3.6 + 1.3 + 2.7 — 0.6 + • + - + - + 0.2 - 0.1 + 0.1 - 0.6 4 1-7 0.7 2.0 0.2 - 0.3 + 0.3 2.9 1.3 1.8 0.1 - 0.8 + 0.4 2.7 1.2 1.9 0.4 0.8 1.2 1.7 0.3 1/ - 0.1 out j unadjusted data are f o r l a s t Wednesday except in case of June and December c a l l dates, when a v a i l a b l e . Beginning 1957> a l l June data are f o r l a s t Wednesday of the month, y Less than $50 m i l l i o n . 4 / Total includes f o r e i g n loans on gold, holdings of bankers' acceptances a t the Federal Reserve, and loans t o f o r e i g n banks; changes in these items are generally r e l a t i v e l y small. Even if there were no changes in other items, changes a t commercial banks exclude a l l interbank loans, domestic and f o r e i g n , while t o t a l loans exclude only those t o domestic banks. In addition there i s some lack of synchronization in reporting a s s e t and l i a b i l i t y items used in computing "loans n e t " . £ / I n August 1959; as a r e s u l t of s t r u c t u r e changes, demand deposits adjusted increased about $200 million and time deposits a t commercial banks about $200 m i l l i o n . In December 1959, as a r e s u l t of the r e d e f i n i t i o n of gross demand deposits, demand deposits adjusted were reduced by $400 m i l l i o n . http://fraser.stlouisfed.org/ Not f o r publication e Federal Reserve Bank of St. Louis 1.+.3 -/(o~ Table 5 Ratios t o Total Deposits 1/ LOANS Date 1946: 1947: 1948* 1949: 1956* # 1951: 1952: 1953: 1954: 1955: 1956* # 1957: 1958: 1959: e I960* # # Dec. Dec. Dec. Dec. Dec. Dec. Dec. Dec. Dec. Dec. Dec. Dec. Dec. All commercial banks 31 31 31 31 31 31 31 31 31 31 31 31 31 July 29 Aug. 26 Sept.30 Oct. 28 Nov. 25 Dec. 31 Jan. 27 Feb. 24 Mar. 30 Apr. 27 May 25 June 29 July 27p Aug. 31p Sept.28p Oct. 26p Nov. 30p Dec, 28p 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 52.6 Total 23.7 28.2 31.3 30.9 36.1 37.6 39.9 41.1 40.7 46.7 56.1 51.0 49.4 Member banks Central reserve c i t y lIReserve Country New York Chicago |1 c i t y i1 27.7 26.0 27.3 18.9 31.0 30.3 31.1 23.4 35.9 30.4 33.4 27.1 34.9 25.6 32.4 28.5 42.5 32.3 38.1 31.5 46.3 36.2 39.4 32.1 50.6 38.9 41.1 • 33.9 56.6 39.1 42.2 36.1 46.8 38.3 41.9 37.1 56.7 46.3 48.5 40.7 61.7 52.7 52.7 42.6 61.9 55.2 53 «3 44.1 57.7 49.4 51.3 44.4 53.3 53.4 53.6 54.4 54.0 53.7 54.5 54.7 54.9 55.8 55.6 62.6 65.5 65.3 66.6 69.5 67.3 54.0 55.6 57.2 56.6 56.2 58.2 56.5 57.1 57.6 57.5 58.4 %p.2 47.7 47.9 47.9 48.0 48.4 48.2 54.4 55.6 56.4 55.9 57.1 6%k 67,4 58.2 62.7 64.5 62.0 63.8 / 63.2 61.7 61.1 61.4 61.4 60.3 58.7 60.4 61.4 61.1 61.7 61.9 60.5 61.0 60.6 59.4 59.7 59.1 58.8 48.8 49.4 56.3 56.6 51.4 51.7 51.1 51.6 51.5 56.6 3/56,4 50.6 5o.l 56.2 56.8 57.1 56.2 56.6 56.3 55.3 55.4 55-5 58.0 57.7 58.0 58.5 57.5 58.0 57.6 56.7 56.8 56.8 69.4 67.6 68.0 67.4 66.9 67.7 66.0 65.5 ^/66.0 U.S. Govt, securi t i e s maturing within one year ATT commercial banks 2/ |/ to ?/ ?? 14.3 14.0 19.2 15.2 9.8 11.7 16.9 10.0 & 8.4 8.3 6 d 5.7 5.9 6.1 6.7 6.6 L6 4.9 4.4 4.15i2 5.4 6.4 e!i. 8.3 ^ n.a» 1961: Jan. 25p 5uo &T 55.8 Ji'l n . a . Not availab >1/ Total loans (adjusted t o exclude loans t o banks)j U. S. Government s e c u r i t i e s maturing within one year estimated on b a s i s of Treasury survey of ownershipj and t o t a l deposits Iadjusted t o exclude cash items in process of c o l l e c t i o n ) . 2 / Prior to 1951, data are on c a l l basis and beginning in 1951, they are on maturity b a s i s . On a c a l l b a s i s , data f o r 1951 and 1952 are 21.5 and 19.1 respectively y Data n o V s t r i c t l y comparable with previous f i g u r e s as sane l a r g e country bank,merged with c e n t r a l reserve c i t y bank. : Digitized a for FRASER l L.U.3 - 17 Table 6 Free Reserves and Total Beserves Held (based on averages of daily f i g u r e s j in millions of d o l l a r s ) # Date Total reserves Free reserves held seasonally (excess reserves minus borrowings) adjusted All Central reserve c i t y [Reserve All Country menber New York Chicago city member Monthly averages: e e e 1958: 1959 s J a n . Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. e e 1961: e - 41 - 80 - 59 4? 140 258 318 513 557 535 493 459 435 425 - 65 28 16 89 51 15 154 225 227 210 184 109 - 53 - 26 - 122 - 64 - 4l - 63 - 47 - 35 - 44 - 82 - 62 - 104 88 50 1 31 45 16 3 27 2 9 34 10 - 90 - 126 - 152 - 100 - 49 - 59 - 39 - 38 5 2 4 4 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct, Nov. Dec. Jan - 6 95 26 28 - 32 - 197 268 18,602 - 281 202 194 178 133 101 124 145 169 171 180 237 18,706 18,746 18,615 18,664 18,636 18,433 18,559 18,595 18,649 18,666 18,677 18,671 257 197 182 190 144 204 290 375 464 483 546 596 1/ 1/ 1/ 1/ 18,691 18,360 18,228 18,104 18,276 18,275 18,389 18,464 18,750 18,915 19,097 19,03$ 89 £83 1 / 19,105 7U SU6 8h I 223 195 228 284 360 535 482 420 391 338 369 449 1 1 1 1 1 1 I I 1 1 I960: e Dec. Weekly averages: 1960: Dec* 28 652 1961: Jan. 83$ 522 U 11 . 18 25 Feb. 1 m 956 hl9 - 53 6 5 - 1H - 132 h - 2*2 8 •2 15 10 83 58 23U 17 661 577 1*78 a*a. n.a, n.a. Note: Data f o r l a t e January and February are preliminary* 0 1/ Data have been adjusted t o exclude e f f e c t of changes in reserve requirements. http://fraser.stlouisfed.org/ Not f o r p u b l i c a t i o n Federal Reserve Bank of St. Louis L.U.3 — 18 — Table 7 Changes i n Member Bank Reserves, with Relevant Factors (Monthly average of d a l l y f i g u r e s ; In m i l l i o n s of d o l l a r s ) January Item December January-December 1961 1960 I960 222L 55 — 116 + 267 • 271* 55 - 116 + 63 + 226 + 12 * 279 1960 122. Member bank reserves Required reserves 1 / E f f e c t of change i n requirements E f f e c t of deposit change Excess reserves 1 / Total r e s e r v e s held Cash allowed as r e s e r v e s Reserve balances + - 2h + 32 ~ n + 28 Principal factors Currency i n c i r c u l a t i o n Gold stock and f o r e i g n accounts Treasury operations Federal Reserve f l o a t Other f a c t o r s E f f e c t of above f a c t o r s on r e s e r v e s + Sh - 60 6 + ill -1,00 + 27lt * 37 + 7 + 65 * 5 + 60 + 286 + 3f>l +2,292 -1,91*1 + 68 + 68 + 35 + 33 TloH - 271 'signs i n d i c a t e e f f e c t cm reserves) + 751* + 7 66 - 376 • 1*3 - 209 + 159 - - 83 • 337 + 371 +1,055 • 63 28 51*5 - 569 - 21*3 - 1*05 - ill 58 -1,1*17 + 7l* + 21*1* • 11* •1,180 68 - 11*3 - Ik + 332 + 1*0 - 360 - 351* -1,328 -1,361* - 690 + 363 - 613 •1,092 - 251 - 61 + 33 + 212 + 177 + 35 8 + + + - 55 + 28 ~ 2 - 819 + 2 + 31*9 2 - <m • 1*22 *» + 323 - 70 - 32 Federal Reserve loans and investments: Total U. S. Govt, s e c u r i t i e s Outright Repurchase agreements Acceptances Discounts and advances: To member banks To others 1/ Preliminary f o r January 1961. Not f o r p u b l i c a t i o n - 3l*l - 306 - 308 + 2 + 1 - 38 + 2 -1,102 •1,079 - 23 — - 623 10 1 1 - 12 72k 777 53 21 Table 3 Liquid Assets Held by t h e Public — Seasonally Adjusted S e r i e s (Amounts i n b i l l i o n s of dollars% r a t i o s expressed as percentages) En d of isuii. it ax 1950 1951 1952 1953 193U 1955 1956 1957 1958 1959 Aug. Sept, Oct o Nov. Dec. 1960 Jan. Feb. Mar, Apr. May , June July Aug. • Septo p Octe P , Nov* p Dec. p = 19 = Ratio: Ratio* Commercial Total Commercial bank demand liquid bank d e p o s i t s and time d e + currency t o a s s e t s t o posits a d j . gross; total liquid and currency national a s s e t s (2 + 4) (9 + 1) nroduot 6 / 11 10 9 Demand Personal-type savings d e p o s i t s Total n . s . Govt Total a d j u s t e d p e r s o n a l - Time d<sposits Savings U. S, s e c u r i t i e s liquid type and ad.ius-bed 1 / and Govt, maturing a s s e t s currency savings Commer- Mutual savings loan w i t h i n one (2+3+8) o u t s i d e (4+5+6+7) c i a l year savings shares bonds banks l / banks banks 2 / 3/ 4/ 2 4 3 6 8 1 5 7 271,6 28b.0 296.2 308 o 3 318.0 330.3 339.9 351.7 368.9 114.6 120.2 124.1 126.6 130.0 133.5 13b»5 133.6 138.8 129.0 132.? 140.6 148.6 158.1 l66.lt 17b.1 182.8 196.7 36.3 37.8 10*6 43.6 16.8 48.5 50.7 56.1* 63.4 23.0 23.6 25.2 26.7 28.5 30.0 31.6 33.0 35.1 14.0 16.1 19.2 22.8 27.2 32.0 37.0 41.7 47.7 55.7 55.2 55.6 55.5 55.6 55.9 54.8 51.7 50.5 28.2 31.1 •31.5 33.1 29=9 30.4 31.3 35.3 33*4 150.9 158.0 164.7 170.2 176.8 182.0 185.2 190.0 202.2 55.5 55.6 55.6 55.2 55.6 55.1 54.5 54.0 54.8 387.0 387.8 387.8 388.2 388.1* 140.9 1U0.8 140.4 HlO.l 1U0.2 202.1 202.8 202.9 203.7 204.1 65.2 65.6 65.5 65.9 65.9 35.7 35.8 35.7 35.8 35,9 52.1 52.6 53.2 53.7 54.3 49«I 48.8 48.5 48.3 48.0 44.0 44.2 44.5 44.4 44.1 206.1 206.4 205.9 206.0 206.1 53*3 53.2 53.1 53.1 53.1 389.2 389.1 390.3 390.5 386.7 388.7 388.7 390.2 392.6 394.0 393.? 395.U 140.0 139.1 139.5 139.4 137.5 138.0 138.6 138.6 138.5 139.9 138.8 139.0 204.1 204.5 205.2 205.8 206.5 207.7 209.1 210.9 212.5 214.2 216.2 217.6 65.7 65.7 65.9 66.0 66.1 66.8 67.5 68.6 69.3 70.0 71.1 71.6 35.8 35.8 36.0 36.1 36 a 36.1 36.4 36.4 36.6 36.8 37.0 37.1 54.9 55.4 55.9 r 56.5 57.1 r 57.7 58.2 59.0 59.6 60.5 61.2 61.8 U7.7 U7-6 k7.4 k7.2 ti7.2 [*7.1 U7.0 *6.9 U7.0 46.9 46.9 47.1 45.1 45.5 45.6 45.3 42.7 43.0 41.0 40.7 41.6 39.9 38.9 38.8 205,7 204.8 205.4 205.4 203.6 204.8 - 206.1 207.2 207.8 209.9 209.9 210.6 52.9 52.6 52.6 52.6 52.7 52.7 53.0 53.1 52.9 53.3 53.3 53.3 89.1 83.3 82.2 85.1 85.3 80.7 78.8 79.3 79.3 80.2 79.8 77.7 77.0 77.5 78.3 For footnotes see o t h e r s i d e • » http://fraser.stlouisfed.org/ Federal Reserve Bank •of St. Louis • e # e e # # # e p Preliminary. 1 / Data f o r demand and time deoosits a d j u s t e d and currency outside banks are as of l a s t Wednesday of month, except t h a t time d e p o s i t s a r e as of June 30 and December 31 when c a l l data f o r these d a t e s were available« 2 / Includes savings d e p o s i t s i n the P o s t a l Savings System. 3 / P r i o r t o 1955 d a t a a r e Board estimates based on monthly f i g u r e s of inflow of new savings and withdrawals ~* of savings c a p i t a l compiled by the Federal Home Loan Bank Board. !l/ Includes a l l types of savings bonds held by i n v e s t o r s o t h e r than banks and U. S . Government agencies and ~~ t r u s t f u n d s . 5 / Includes a l l marketable s e c u r i t i e s maturing within one year ( a d j u s t e d to include p a r t i a l l y t a x exempt s e c u r i t i e s 12 months p r i o r to f i r s t c a l l d a t e ) and, p r i o r t o 1956, nonmarketable Treasury savings notes with m a t u r i t i e s up t o 2h months; f i g u r e s include holdings of insurance companies, brokers and d e a l e r s , S t a t e and l o c a l governments, nonbank c o r p o r a t i o n s , corporate pension funds, n o n p r o f i t i n s t i t u t i o n s , f o r e i g n accounts, and i n d i v i d u a l s . 6 / Gross n a t i o n a l product estimates a r e a v a i l a b l e q u a r t e r l y and annually only. For 1950-58 r a t i o s a r e f o r l a s t q u a r t e r of y e a r ; f o r 1959 and I960, f o r each q u a r t e r of y e a r . Data f o r t o t a l l i q u i d a s s e t s used i n computing these r a t i o s are q u a r t e r l y average f o r f o u r d a t e s ; each month of t h e current q u a r t e r and t h e l a s t month of t h e preceding quarter* L.4;3 Table 9 <• 2 0 — Money Supply (Averages of d a i l y f i g u r e s . Semimonthly period 1954—-Dec. 1955—Dec. 1956—Dec. 1957—Dec. 1958—Dec. SI 1959-Oct. (1) Nov. Dec. i960--Jan. Feb. Mar. Apr. May June July Aug. r (2) (2) (2) (2) (1) (2) (1) (2) (1) (2) (1) (2) (1) (2) (1) (2) (1) (2) (1) (2) (1) (2) 2 Sept. (1) (2) Oct. (1) (2) Nov. (1) (2) * , Dec. (1) (2) . J9D. . CD p . (2) P . rreiiminary In b i l l i o n s of d o l l a r s ) Seasonally ad justed Demand CurTotal depos its rency 1/ Without seasonal adjustment Demand CurTotal depos its rency 132.0 134.7 136.6 135.5 140.9 '104.6 106.9 IO8.3 107.2 112.3 135.7 138.5 140.4 139.3 144.9 28.9 29.2 28.8 107.9 110.2 111.6 110.4 115.7 113.6 113.3 113.2 113.2 2 / 112.6 112.6 142.2 142.4 143.3. 143.4 2/144.4 145.4 29.1 28.9 29.2 29.2 29.5 29.5 113.0 113.5 114.1 114.1 2/115.0 116.0 112.4 112.3 112.2 111.9 111.8 111.3 111.3 111.6 111.2 110.5 110. £ 110.5 110.6 110.7 110.7 111.0 111.3 111.6 111.0 112.2 111.6 110.9 111.4 U1.5 111.3 112.0 145.2 143.6 141.8 139.6 140.0 138.6 139.6 140.9 139.0 137.0 138.2 137.9 138.2 139.3 139.6 138.2 139.9 139.6 139.8 141.4 141.7 141.2 143.3 144.4 lWuO" U3.lt 29.1 28.5 28.7 28.5 28.7 28.6 28.9 28.6 142.6 142.2 142.2 142.1 2/141.5 141.5 141.3 141.3 141.1 1W.9 140.8 140.3 140.3 140.7 140.2 139.6 139. h 139.4 139-6 139.7 139.7 139.9 140.3 140.5 140.0 141.2 140.6 139.9 140.3 140.5 lh0.2. litl.'O 27.4 27.8 28.3 28.3 28.6 29.0 29.0 29.0 28.9 28.9 28.9 28.9 29.0 28.9 29,0 29.0 29.0 29.1 29.0 29.0 29.0 28.9 28.9 28.9 29.0 29.0 28.8 29.0 28.9 29.0 29.0 29.0 29.0 28.9 29.0 28.9 29.0 U 27.9 28.3 28.8 28.7 29.0 28.8 29.3 29.0 29.2 28.9 29.2 28.9 29.2 29.0 29.2 29.3 29.5 . 29.6 29.1 " 28.5 116.1 115.1 113.2 111.1 111.3 110.0 110.7 112.3 110.2 108.3 109.2 109.1 108.9 110.3 110.4 109.3 110.7 110.7 110.6 112.4 112.4 111.9 113.7 114.8 114.9 lib.8 2 / Change In s e r i e s beginning w i t h ; f i r s t half of December 1959 r e f l e c t s r e d e f i n i t i o n of gross demand deposits i n l i n e with t h e r e v i s i o n of Regulation D e f f e c t i v e Dec. 1 1959 This change reduced such d e p o s i t s i n e a r l y December by an estimated $1*00 m i l l i o n . ' ' L.l*.3 Year or month End of Dec. 1951* 19# 1956 1957 1958 1959: Sept.30 Oct. 28 Nov. 25 Dec. 31 3 / 1960s J a n . 27 Feb. 2k Mar. 30 Apr. 27 May 25 June 29 J u l y 27 Aug. 31 Sept.28 p Oct. 26 p Nov. 36 p Dec. 28 p 1961: J a n . 25 Table 10 Deposits and Currency 21 - (2) (1) (3) Seasonally adjusted money supply 1 / (1*) (6) (8) (5) (7) (9) (11) (10) (12) Seasonally Time deposits Total adjusted U. S. Curdeposits money Demand Currency Govt, and supply and deposits Demand rency Total Commerdeposits Mutual outside currency Postal deposits time dep. adjusted (7+8+9) cial savings savings banks (5+6+10 adjusted outside a t com. 2/ banks banks(1+7) +11) Total (2+3) 130.0 133.5 13U.5 133.6 138.8 103.1 106.1 107.1 105.8 110.7 26.9 27.1* 27.1* 27.8 28.1 176.8 181.9 185.1 189.7 202.0 106.6 109.9 111.1* 110.3 115.5 75.3 78.1* 82.2 89.1 98.3 1*6.8 1*8.1* 50.6 56.1 63.2 26.3 28.1 30.0 31.7 31*.0 2.1 1.9 1.6 1.3 1.1 5.1 l*.l* 1*.5 1*.7 1*.9 27.9 28.3 28.3 28.3 28.7 211*.8 221.0 226.1* 232.3 21*7.5 11*0.8 11*0.1* 11*0.1 11*0.2 112.1* 112.0 111.8 112.0 28.1* 28.1* 28.3 28.2 206.5 205.9 201*. 8 206.1 111.1* 112.7 113.1 115.1* 101.5 101.1 100.3 101.8 65.7 65.5 61*.7 65.9 31*. 8 3U.6 3U.6 3l*.9 1.0 1.0 1.0 0.9 7.1 6.0 5.1 5.8 28.5 28.3 29.1 29.1* 21*8.5 21*8.2 21*7.6 252.1* 1U0.0 139.1 139.5 139.lt 137.5 138.0^ 138.6 138.6 138.5 139.9 138.8 139. 111.7 110.8 111.1 111.2 109.3 109.9 110.3 110.3 110.3 111.5 110.6 110.8 28.3 28.3 28.1* 28.2 28.2 28.1 28.3 28.3 28.2 28.1* 28.2 28.2 205.2 20L.5 205.5 205.6 20l*.0 205.1* 206.5 207.5 207.9 209.9 208.8 210.0 lllwO 110.5 108.8 111.5 107.7 107.8 110.1 108.9 109.3 112.2 111.9 11U.5 101.0 101.2 102.2 102.3 102.6 103.6 10l*.2 105.3 106.0 106.7 106.8 rl08.1 65.2 65.1* 66.0 66.2 66.5 67.1*. 67.9 68.9 69.1* 70.0 70.0 71.0 3l*.9 3l*.9 35.3 35.2 35.2 35.1* 35.5 35.6 35.8 35.9 36.0 r36.3 0.9 0.9 0,9 0.9 0.9 0.8 0.8 0.8 0.8 0.8 0.8 0.8 l*.l* 5.3 5.2 5.3 7.7 7.8 7.0 6.2 8.2 6.7 6.1 6.5 27.9 28.0 28.1 27.9 28.1 28.3 28.1* 28.5 28.3 28.3 28.7 28.8 21*7.3 21*1*.9 2l*l*.2 21*7.0 21*6.1 21*7.7 21*9.6 21*8.8 251.8 251*.o 253.5 r257.9 11*0.6 112.2 28.1* 212.1* 111*.6 109.0 71.8 36.1* 0.8 l*.l 28.0 255.7 p Preliminary. r Revised, 1 / Seasonally adjusted s e r i e s begins i n 19l*6 and i s available only f o r l a s t Wednesday of the month. ? / At commercial, savings and Federal Reserve Banks. 3 / Demand deposits were reduced about $1*00 million as a r e s u l t of a technical change under Regulation D amending the d e f i n i t i o n of such d e p o s i t s . On balance i n 1959* as a r e s u l t of s t r u c t u r e changes, demand deposits adjusted increased $1*00 m i l l i o n , time deposits a t commercial banks increased $700 million, and time deposits a t mutual savings banks declined $300 m i l l i o n . http://fraser.stlouisfed.org/ *+ Reserve Bank #of St. Louis Federal e # # e e # e • . • Table 11 Loans and Investments a t All Commercial Banks (In b i l l i o n s of dollars) Date 19&s 1955$ 1956; 1957: 1958,: 1959s 1959: Dec. Dec. Dec. Dec. Dec. June June 31 31 31 31 31 (old) (new) Sept.30 Oct. 28 Nov. 25 Dec. 31 1 / Loans and investments 155.7 160.3 16U.5 169.3 l8it.it Uc S„ Govt, Other Total secur- secur- loans ities ities 69.0 61.6 58.6 58.2 181.2 181.2 66 .It 60.9 60.9 186.3 186.7 186.1 189.5 59.2 59.6 58.5 58.9 -22 Busi- Real Securness e s t a t e i t y Nonbank Con- f i n a n c i a l Farm sumer i n s t i t u tions 20.6 102.8 26.9 33.2 38.7 it0.5 itO.it U2.5 37.8 it.5 5.0 it.3 it.2 it.7 it.l it.l 5.2 it.5 it.2 it.l 5.0 5.0 5.0 20.7 106.3 38.7 20.3 107.3 20.5 110.0 39.it it0.2 it.l it.i it.i it.9 5.1 5.0 it.9 5.0 16.3 16.7 16.3 17.9 70.it 82.0 89.7 93.2 20.6 97.5 20.6 102.81 20.6 106.5 38.8 I8.it 20.8 22.5 23.1 25.3 26.9 26.9 27.5 27.7 27.9 28.1 10.9 All other 2/ 5.6 6.5 6.9 7.2 13.2 lit.6 15.8 15.9 17.5 17.5 5.9 18.4 6.5 18.6 18.6 18.8 ~ 8*2 6.0 6.2 7.1 8.8 7.6 8.0 8.2 8.2 8.1 Jan. 27 185.6 58.0 20.3 107.it 39.it 28.1 it.O 8.1 18.9 it.9 6.3 Feb. 2k 56.2 20,1 108.1 39,8 28.2 3.9 m.3 8.1 19,0; 5.0 6-.it Mar. 30 183.U, 20.1 109.1 it0.9 28.2 3.5 54.2 8.0 19.0 6.6 5.1 Apr. 27 186.2 20.0 110.U itO.9 28.3 3.9 55.8 6.8 19.3 5.2 8.3 May 25 185 o 9 55.1 19.8 110.9 itl.3 28.3 8,it 19.5 3.7 5.3 6.7 June 29 186.7 19.9 112.6 itl.9 54.2 28.it» 3.8 19.8 8.5 5.it 7.1 188,6 July 27 * 20.0 111.9 56.7 1*1.2 28.it 3.8 19.9 8.3 7.0 5.5 Aug» 31 189.0 56.6 20.0 112.5 ltl=2 28.5 It.l 20.0 6.8 5.6 8.5 Sept«28p 191.it 20,2 113.5 itl.8 57.7 28.6 it.it •p.6 8.6 6.7 20,1 Oct, 26p 193.9 60.5 20.it 113.0 ltl.7 28.7 6.2 it.3 5.7 20*1 Nov. 30p 194.1 60.it 20*3 113.it it2.1 28.7 8'J it .2 6.2 30,1 5.7 20,8 115,9 it2.it 61.3 Deco 28jp 197,9 28.9 5.1 20,1 8.7 7.0 5.8 1961s Jan. 25p 62*2 195.8 20.9 112, 28.8 h,3 itl.it 5.8 20.0 6.1 -8*1 17 Structure changes in 1959, on balance through p Preliminary, r Revised on basisTof Oct. 3 c a l l . August, added almost $1 b i l l i o n to t o t a l credit5 $600 million in loansj $300 million i n U. S. Government s e c u r i t i e s 5 and $100 million in other s e c u r i t i e s . Real e s t a t e loans increased about $300 millions business loans $100 million; consumer loans s $100 millions and other loans $100 m i l l i o n , NOTE: Data exclude interbank loans. Total loans are a f t e r and types of loans before deductions for valuation reserves, Consumer and "other loans" are p a r t l y estimated f o r a l l d a t e s . Other data are o a r t l y estimated on a l l but June and December c a l l d a t e s . Beginning June 2kg 1959, "business loans" and " a l l other loans" have been revised to exclude loans to nonbank f i n a n c i a l i n s t i t u t i o n s . I960: Not f o r publication http://fraser.stlouisfed.org/ ' # Federal Reserve Bank #of St.*Louis
@FedFRASER