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»
FEDERAL RESERVT C
of K A " "
Not for publication
1
U
K
^ W t a u / J
5
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- !(•£!
rfcb -'• *
— Research Library ---
BANKING AND MONETARY DEVELOPMENTS IN JANUARY 1963
Total commercial bank credit, seasonally adjusted, increased
rther in January, but not quite as rapidly as in other recent months.
Holdings of securities rose contraseasonally but total loans showed little
further change following sharp growth in December, The money supply declined somewhat between the second half of December and the second half of
January after having increased substantially in late 1962. Time and savings deposits at commercial banks rose more rapidly than in other recent
months, Turnover of demand deposits increased in January. Total reserves
of member banks, which usually decline on a monthly average basis in
January, showed little change. Free reserves increased from the temporarily
low December level.
Bank credit. Total loans and investments at all commercial banks,
seasonally adjusted, increased $1.2 billion further in January. This was a
slower rate of growth than over the last five months of 1962 when expansion
had averaged almost $2 billion per month. Holdings of U. S. Government
securities increased $500 million and holdings of other securities, $600
million, in January. Total loans increased only slightly further following
a $2,5 billion record growth in December. The total credit reduction at
weekly reporting banks in leading cities was about the same in January 1963
as in January 1962 but growth in December 1962 had been considerably larger
than a year earlier. At banks not reporting weekly, the January credit
reduction was considerably larger than in January 1962 whereas the December
credit growth had been only moderately larger than in the previous December,
On January 15, all commercial banks were allotted $1.3 billion of
the new $2,5 billion Treasury bill issue. Commercial banks had held about
$400 million of the maturing $2 billion one-year issue. Treasury financing
had also occurred in January of most previous years.
Business loans at all commercial banks, seasonally adjusted, increased only slightly further in January following substantial growth in
other recent months. At city banks, business loans declined $850 million
in the five weeks ending January 30, a little less than in the comparable
weeks last year, but the December expansion had been much smaller than in
December 1961, In January, loan repayments by food processors and trade
concerns were about seasonal; loans to commodity dealers showed little net
change as in January of the previous two years. Loans to metals processors
and to petroleum and chemical concerns declined more in January than they
had risen in December. Loans to public utilities, which had been increasing
substantially in late 1962, declined a little less in January than they had
increased in December.
A
-
2
-
Seasonally adjusted security loans at all commercial banks declined
$200 million in January following a $600 million increase in December. Loans
for purchasing and carrying U. S. Government securities declined by more in
January than they had increased in December. The January reduction in loans
for purchasing and carrying other securities, however, was considerably
smaller than the December rise.
Seasonally adjusted real estate loans at all commercial banks increased further in January at about the same rate as in December, but a
little less rapidly than in the other late months of 1962. Consumer loans
continued to expand moderately in January.
Money supply. The daily average money supply, seasonally adjusted,
declined $600 million between the second half of December and the second half
of January, following substantial growth in other recent months. In late
January, the money supply was about 1-1/2 per cent above the year-ago level.
Seasonally adjusted time and savings deposits at all commercial
banks increased $1.7 billion between the second half of December and the
second half of January, somewhat more rapidly than in any other month since
January 1962 when interest rates on such deposits were raised. At weekly
reporting banks in leading cities, savings deposits increased at a faster
rate than in other recent months and other time deposits of individuals,
partnerships, and corporations continued to show substantial growth following accelerated expansion in December. Other time deposits, largely
those of States and political subdivisions and foreign governments and
official institutions, also rose in January.
The seasonally adjusted annual rate of turnover of demand deposits at banks in 3^3 centers outside New York increased to 32.6 (preliminary) in January, about the same as in October and November and higher
than in December when turnover had dropped. Over the four months ending
Januany 1963 turnover averaged about 7 per cent above the comparable period
a year ago.
Bank reserves. Total reserves of member banks, which usually
decline in January, showed little change. Required reserves increased
further. Excess reserves declined to $485 million while member bank borrowings dropped to $100 million. Thus, free reserves averaged $385 million
compared with $265 million in December. Late in January and in early
February, however, borrowings increased somewhat and free reserves declined.
The effective rate on Federal funds was generally 3 per cent during January
and early February although occasionally it dropped below.
During December, on a monthly average basis, reserves were supplied
principally by seasonal currency inflow. Reserves were absorbed mainly by
gold outflow, an increase in Treasury deposits at the Reserve Banks, and a
reduction of $350 million in System holdings of D, S„ Government securities.
Reserve Bank float remained at higher-than-normal levels through most of
January but late in the month and in early February it declined to nearseasonal volume.
Banking Section,
Division of Research and Statistics,
Board of Governors of the Federal Reserve System.
February 15, 1963°
1.4.3 I Q A N S
AND
I N V E S T M E N T S AT A l l
EXHIBIT A, P a r t I
COMMERCIAL
BANKS
B i l l i o n s of d o l l a r s ,
240
l a i t W e d n e s d a y of m o n t h , s e a s o n a l l y a d j u s t e d
TOTAL l O A N S AND INVESTMENTS
U. $. G O V ! . SECURITIES
OTHEI SICUIITIES
1957
1958
1940
1959
1942
1941
Exhibit A - Part II
| Total 1/
Date
I
Loans 1/
U. S. Gov't, securities
Other securities
(IIt billions 0 t dollars;
1960—Dec.
1961—-Dec.
19k. 5
209.6
210.7
213.3
21$.2
215.0
216. 4
220.3
217.8
220.3
222.0
221+.U
225.8
227.6
228.8
Adjusted to exclude interbank
Estimated as of December 31.
1962—Jan.
Feb.
March
April
May
June
July
Aug.
Sept.
Oct.
Nov.
2/Dec.
1/
1/
31
31
31
28
28
25
30
30
25 p
29 p
26 p
31 P
28 p
31 p
114.2
121.1
59.6
64.7
20.7
23.8
120.8
122.6
123.8
124.5
124.8
126.6
126.1
127.3
129.7
131.7
132.3
134.8
134.9
loans,
65.7
66.1
66.1
64.6
65.5
66.6
64.1
65.0
64.3
64.1
64.4
63.8
64.3
24.2
24.6
25.3
25.9
26.1
27.1
27.6
28.0
28.0
28.6
29.1
29.0
29.6
1.4.3. - EXHIBIT B, Part 1
L O A N S AT ALL C O M M E R C I A L
ANKS
Billions of dollars
Last Wednesday ol month, seasonally adjusted
50
BUSINESS
R E A l ESTATE
SECURITY
1958
1957
1959
1963
1962
1961
I960
Exhibit B - Part II
(In
I960—Dec.
1961—Dec.
1962——Jan.
Feb.
March
April
May
June
July
Aug.
Sept.
Oct.
Nov.
1/Dec.
1963—Jan.
Real Estate
Business
Date
31
31
U2.1
31
UU.i
a. 2
28
28
25
30
30
25 P
29 P
26 P
31 P
28 P
31 P
30 P
b i l l i o n s
a.i
I
a.5
Mi. 8
hS»0
U5.5
U5.5
It.6.1
l i a r s
20.5
U.3
21.3
5.2
30. U
30.6
30.9
21.3
U.8
31.2
31.6
32.0
21.6
21.8
22.1
22.k
22.6
22.7
22.9
23.2
U7.5
33.1
33.5
33.9
1*8.2
t i
m
U6.7
1*7.2
18.1
)
28.7
30.3
32.lt
p - Preliminary.
r - Revised.
1/ Estimated as of December 31«
o T
Security
Consumer
32.8
22.9
23.3
5.5
6.0
5.6
5.2
5.3
U.it
U.7
5.7
5.9
5.5
f.9
•
#
#
e
e
e
•
•
•
#
Exhibit C
Changes in Loans and Investments at all Commercial Banks, Seasonally Adjusted
(In billions of dollars)
T a
1961
Item
kV
July
'
Dec. p
Aug.p Sept.p Oct. p Nov. p
V -
1963
Jan',p
Jan.
Feb.
Mar.
Apr.
May
June
+1.3
+1.1
+2.6
+1.9
-0.1
+1.U
+3.9 -• -2.5
+2.5
+1.7
+2.U
+1.U
+1.8
+1.2
0. S. Gov't, securities
-0.6
+1.0
+Q.U
1/
-1.5
+0.9
+1.1
-2.5
+0.9
-0.7-
—0.2
+0.3
—0.6
+0.5
Other securities
+0.2
-tO.it
+0.U
+0.7
40.6
+0.2
+1.0
40.5
+0.U
V
+0.6
40.5
-0.1
+0.6
Loans 2/
+1.7
-0.3.
+1.8
+1.2
40.7
+0.3
+1.8
-0.5
+1.2
+2.U
+2.0
+0.6
+2.5
+0.1
40.1
+0.3
+0.3
+0.2
+0.5
y.
40.6
+0.6—
40.5
40.3
+0.6
+0.1
+0.2
+0.3
+0*3
+0.5
4-0. it +0.U
+0.U
+0.3
+0.1*
+0.U
+0.3
+0.3
+0.3
+0.2
40.3
+0.3
+0.2
+0.1
+0.2
1/
+0.3
+0.1
+0.2
+0.3
+0.7
+0.5
—O.lt
-o.a
+0.1
-0.9
40.3
+1.0-1 +0.2
-O.lt
40.6
—0.2
-0.1
+0.2
—0.1
+0.1
+0.3
-0.1
+0.2
+0.1
+0.3
1/
+0.1
V
+0.1
-0.1
+0.1
+0.1
—0. h
+0.1
40.2
+0.2
+0.2
+0.3
-0.1
40.2
+0.1
40.1
+0.1
+0.1
+0.1
1/
+0.1
+0.8
+1.U
+0.7
+0.9
+1.1
+1.5
+1.1
+1.3
+1.1
Loans and Investments 2/
Dec.
Business
+0.8
Real estate
+0.3
. Ct^sumer
+0.1
sW$urity
y
Noibank financial
y
y
+0.1
y
-O.ll
y
Agriculture
+0.1
+0.3
A4- other
+0.1
+0.3
Total loans excluding
security and nonbank
financial
+i. U
+0.7
y
+0.7
40.U
+1.2
y
+1.0
by category, are experimental and are subject to revision.
1/ Less than $$0 million.
*2/ Adjusted to exclude interbank loans.
•J/ Derived by additiori of items arid not by subtraction from total loans.
*+/ Estimated as of December 31, 1962.
p - Preliminary.
y
y
>
Exhibit D
Changes in Loans and Investments at All Commercial Banks, at Weekly
Reporting Banks, and at Other Banks, Not Adjusted for Seasonal.
(In billions of dollars)
End of December to ]Last Wednesday: of January
Item
1963 3/
1960
1962
1961
+
+
-
- 3.9
+ 0.9
1/
- 2.9
1959
1958
1957
- 2.7
- 0.5
1/
- 3.1
-
2.0
0.9
0.1
2.9
-
2.0
0.6
0.1
2.6
All commercial banks
Total loans
U.S. Gov't securities
Other securities
Total
- 4.4
y
+ p.?
— 4.1
L.3
0.6
0.2
3*5
,
—
-
2.6
0.9
0.2
3.9
Weekly reporting banks
Total loans
U. S. Gov't securities
Other securities
Total
+
+
-
3.8
0.2
0.1
3.4
- 3.5
+ 0.2
1/
- 3.3
+
+
-
3.3
O.ij.
0.1
2.8
—
—
—
-
2.1t
1.0
0.1
3.5
Other banks
Total loans
U. S. Gov't securities
Other securities
Total
—
+
-
0.6
0.2
0,2
0.7
—
+
+
—
—
+
-
0.6
o.5
0.1
0.1
+
—
0.2
0.1
0.1
O.Zi
Item
All commercial banks
Total loans
U.S. Gov't securities
Other securities
Total
Weekly reporting banks
Total loans
U.S. Gov't securities
Other securities
Total
Other banks
Total loans
U.S. Gov't securities
Other securities
Total
0.8
O.lt
0.2
0.2
h/~ 1.6
t/+ 1.1
u/— 0.2
^/™ 0.6
+
-
1.7
0.1
0.2
1.8
- 2,h
h/+
o.i
- 0.3
E/+ l . o
y*
1.2
— o«5
+ 0.1
- 2.8
3
- 0.3
Year ending December
1962 3/
+14.1
- 0.7
• m
+ 7.6
- 2.4
+ 8.9
+ 6.5
+ 1.7
•+• 1.6
+ 9.8
1961
I960
+ 7.2
• 5.6
+ 3.1
+1$.9
+
+
+
+
6.7
2.1
o.k
9.1
+
+
+
+
3.5
3.6
2.0
9.3
+
+
+
+
2.7
2.5
0.2
5.5
+ 3.7
+ 2.0
+ 1.1
+
+
+
li.O
O.h
0.2
3.6
1959
1958
1957
1956
+ 1*.3
+ 8.1
+ 2.6
+15.1
+ 3.5
— 0*3
+ 1.7
+
+ 7.6
— 3.0
- O.li
7.7
7.0
O.lt
o.3
+
+
+
+
0.7
5.5
1.U
7.6
+ 0.9
** 0*2
+ o.ii.
+1.1
+ 5.1*
- 3.5
2/+ 1.8
+
+
+
+
3.6
2.6
1.2
7.5
+ 2.6
- 0.1
+1.3
2/+12.5
y-
?.h
2/- 0.1
2FTX
+
—
+
V- o.h
2/+ 0.3
iFTTt
+ 3.8
NOTE—Data exclude all interbank loans; call report data for weekly reporting banks
used when available.
1/ Less than $5%) million. 2/ As a result of bank structure changes, total credit
increased about $1 billion: $600 million in loans; $300 million in U. S. Gov't
securities; and $100 million in other securities. 3/ Based on estimated data
#
for December 31, 1962. b/ In January 1959, total credit increased over $1*00
million as a result of bank structure changes; loans, $300 million; U. S. Govhttp://fraser.stlouisfed.org/
ernment securities, $100 million; and other securities, $100 million.
Federal Reserve Bank of St. Louis
H.
+ h.2
- 0.7
+ 1.2
+ 2.2
+ 0.5
+ 0.3
+ 3.0
Exhibit E
Changes in Commercial and Industrial Loans at Weekly Reporting Banks
(In millions of dollars)
JEftd of December to end of January 3/
Business of borrower
Food processors
Commodity dealers
Trade concerns
Total
End of December to end of December
1963
1962
1961
1960
1959
1962
1961
I960
1959
1958
-195
+ 17
-279
-457
-180
-215
- 9
=303
-163
-116
- 68
-3H7
-230
- 30
-190
+ 31
- 17
+372
+ 55
+135
+ 8
+179
+375
+435
+989
-136
+127
+ 4
5
—
2/+455
-599
-
-219
~rm
Tm
+ 21
-171
+346
?I97
v
1/
1/
1(
1/
- 43
1/
-131
- 39
- 50
-161
+ 22
- 99
-131
- 8
+ 70
+142
+ 49
- 22
+ 87
— 38
+ 1
+ 86
+111
- 77
-tii?
- 64
- 44
*397
+ 58
+ 7
+717
+160
+ 86
-308
-148
-154
+168
-184
- 62
+146
-265
- 23
- 70
- 69
- 25
- 18
- 33
- 29
- 26
- 85
- 5
+418
+145
+165
+1468
- 50
+106
+325
+ 13
+131
+214
+339
+116
+ 36
+ 57
+106
- 59
- 36
+ 31
- U6
- 18
+496
+833
+464
+114
+431
Classified
Unclassified
-814
- 36
-830
-102
-732
-130
-301
-204
-607
-252
+1,728
• +518
+1,028
-283
+1,592
-115
+3,188
+ 10
-544
-377
Total change
-850
-932
-862
-508
-859
+2,21*6
+760
+1,477
+3,198
-921
-850
-932
-862
-508
-811
+2,216
+71*5
+1,477
+2,743
-362
Sales finance
Metals and products
Textiles, apparel, etc.
Petroleum, coal, etc.
Other manufacturing
and raining
Public utilities
Construction
All other types of
business
Total change excluding sales
finance
1/
5/
J/
|
y
Not included in business loans on revised basis.
Through July 1.
Five weeks used throughout.
Exhibit F
Loans and Investments at All Commercial Banks
(In billions of dollars)
Loans
and
investments
Date
1956s
1957s
1958s
1959s
1960s
1961s
1962s
1963$
U. S.
Govt.
Other
securities
Total
loans
Business
Real
estate
Security
Farm
Consumer
Nonbank
financial
institutions
All
other
Dec.
Dec.
Dec.
June
June
Dec.
Dec.
Dec.
31
31
31
24 (old)
24 (new)
31 y
31
30
164.5
169.3
184.4
184.2
184.2
189.5
198.5
214.4
58.6
58.2
66.4
60.9
60.9
58.9
61.0
66.6
16.3
17.9
20.6
20.6
20.6
20.5
20.9
23.9
89.7
93.2
97.5
102.8
102.8
110.0
116.7
123.9
38.7
40.5
40.4
42.5
37.8
40.2
43.1
45.2
22.5
23.1
25.3
26.9
26.9
28.1
28.7
30.3
4.3
4.2
4.7
4.1
4.1
4.9
5.1
6.2
4.2
4.1
5.0
5.0
5.0
5.0
5.7
6.2
14.6
15.8
15.9
17.5
17.5
18.8
20.6
21.4
5.9
7.1
7.1
7.3
6.9
7.2
8.2
8.8
7.6
8.1
8.7
9.8
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
31
28
28
28
30
30
25
29
26
31
28
31
210.9
211.6
212.4
214.8
215.3
219.2
217.8
219.O
223.1
225.7
226,7
233.1
67.2
66.0
64.4
64.7
64.4
64.4
64.2
63.9
64.3
65.5
65.4
65.9
24.1
24.5
25.4
26.1
26.1
27.0
27.5
27.9
28.2
28.6
28.8
29.2
119.6
121.1
122.6
124.0
124.8
127.7.
126.1
127.3
130.6
131.6
132.4
138.0
43.4
43.7
44.8
44.7
45.0
45.9
45.2
45.8
46.7
47.1
47.8
49.3
30.4
30.5
30.7
31.1
31.5
32.0
32.4
32.8
33.2
33.6
34.0
34.3
4.7
5.4
5.4
5.7
5.1
5.3
4.4
4.6
5.8
5.9
5.3
7.2
6.4
6.6
6.6
6.7
6.6
6.8
6.7
6.2
6.3
6.5
6.6
6.9
21.2
21.3
21.5
21.9
22.3
22.7
22.9
23.1
23.1
23.3
23.4
23.6
6.4
6.4
6.5
6.5
6.6
7.2
6.9
7.2
7.4
7.2
7.2
8.3
9.8
9.7
9.8
10.0
10.2
10.5
10.3
10.4
10.7
10.7
11.0
11.0
Jan.
30 p
229.0
65.9
29.5
133.6
47.4
34.5
5.7
7.1
23.7
7.3
10.7
p
P
p
P (est.)
=•<=•
a ea,
€=*«=»
p - Preliminary.
1/ Structure changes in 1959t on balance through August, added almost $1 billion total credit; $600 million in loans;
$300 million in U. S. Government securities; and $100 million in other securities. Real estate loans increased about
$300 million; business loans $100 million; consumer loans $100 million; and other loans $100 million.
NOTE—Data exclude interbank loans. Total loans are after and types of loans before deductions for valuation reserves.
Consumer and "other loans" are partly estimated for all dates. Other data are partly estimated on all but June and
Jf
December call dates. Beginning June 24, 1959» "business loans" and "all other loans" have been revised to exclude
loans to nonbank financial institutions.
#
#
#
#
#
#
#
#
#
#
Exhibit S
Ratios to Total Deposits 1/
U. S. Govt, securities maturing
within one year
L O A N S
Date
All commercial
banks
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
31
31
31
31
31
31
31
31
31
31
31
31
31
31.2
31.1
35.8
1961: Nov.
29
30
1962:
31
1948:
1949:
1950:
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
Dec.
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1963: Jan.
28
28
25
30
30
25
29
26
31
28
26
30
37.2
39.3
40.5
40.3
45.8
48.8
49.7
48.4
54.0
55.1
Total
31.3
30.9
36.1
37.6
39.9
41.1
40.7
46.7
Member banks
Reserve city banks
City of
New York
Other
Chicago
City
35.9
34.9
42.5
46.3
50.6
50.6
Country
27
60.8
33.4
32.4
38.1
39.4
41.1
42.2
41.9
48
52
53
51
58
59
30.4
25.6
32.3
36.2
38.9
39.1
38.3
46.3
52.7
55.2
49.4
28
31
32
33
36
37
40
42
44.1
44.4
48.2
50.3
All
commercial #
banks
I
14.2
19.2
15.2
9.8
11.7
16.9
10.0
49.4
55.6
56.5
46.8
56.7
61.7
61.9
57.7
67.3
65.9
54.7
54.5
55.7
55.7
63.5
65.0
57.7
58.0
58.3
57.7
50.5
50.2
10.4
54.1
54.9
55.4
55.4
55.8
55.9
55.6
56.0
56.4
56.1
56.4
56.7
56.4
55.3
56.0
56.5
56.5
56.8
56.8
56.5
57.0
57.6
57.3
57.5
57.8
57.4
63.O
64.7
65.8
65.4
64.4
63.6
56.8
58.8
59.2
58.3
57.3
57.5
56.5
57.1
58.6
57.6
57.3
57.7
50.1
50.8
10.9
11.7
10.6
10.>9
11,,1
50.1
51.0
63.0
65.8
68.8
67.4
66.6
67.8
64.7
58.2
58.6
57.7
58.0
58.3
58.4
59.1
59.0
59.3
59.5
59.9
60
60
r60
60
51.2
51.3
51.8
52.1
51.7
51.7
51.6
51.2
51.6
52.0
52.0
5.1
7
8
8
6
8.1
10.6
10,= 7
10.7
11.9
9.8
10.4
9o2
9.6
n.a.
Total loans (adjusted to exclude loans to banks); U. S. Government securities maturing
within one year estimated on basis of Treasury survey of ownership and total deposits
(adjusted to exclude cash items in process of collection).
g/ Prior to 1951, data are on call basis and beginning in 1951, they are on maturity basis.
On a call basis, data for 1951 and 1952 are 21.5 and 19.1 respectively.
NOTE: Comparability of figures affected by changes in Federal Reserve membership, mergers,
etc.; by changes in the reserve classification of cities or individual banks, and by
changes in items. Beginning August 1962, figures for both New York City and the City
of Chicago include banks formerly classified as central reserve city and three banks
whole classification as reserve city is continued.
1/
p - Preliminary.
L.4.3. DEPOSITS
AND
EXHIBIT H, P a r t 1
CURRENCY
B i l l i o n s of d o l l
S e m i m o n t h l y a v e r a g e s of d a i l y f i g u r e . , . . a . o n e l l y a d j u s t e d
160
lio
M O N E Y S U P PLY
MT
730
lio
1
"no"
Too";
io"i
/
TIME AND S A V I N G S D E P O S I T !
lo\
-ft—*•-
lo\
|
•To!
Not
a d j u s t e d for
Tol
seasonal
•oj
1962
1*63 I
vvAll c o m m e r c i a l banks.!
Exhibit H - Part II
Seasonally adjusted data
Period
Money supply
Total
(2)
(2)
(2)
11*1.8
141.2
146.0
1962—Sept. (l)
(2)
Oct. (1)
(2)
Nov. (1)
(2)
Dec. (1)
(2)
1963—Jan. (l)
(2)
lii5.it
145.3
146.1
11+6.2
11+6.7
147.1
147.5
148.3
1959—Dec.
1960—Dec.
1961—Dec.
149.3
147.7
Demand
Currency
deposits
(In billions of dollars.
28.8
113.0
112.2
28.9
29.6
116.4
115.2
115.1
115.8
115.9
116.3
116.6
116.9
117.8
118.7
117.1
30.2
30.2
30.3
30.3
30.4
30.5
30.6
30.5
30.7
30.7
u. s.
Time and
savings
deposits
Gov't,
deposits
67.4
73.0
82.7
5.2
5.3
5.5
93.1
93.6
94.3
95.0
95.6
9b.4
97.0
97.9
6.6
7.8
8.2
6.5
5.4
6.6
5.0
6.1
99.6
4.1
98.6
5.4
. 4 V- exhibit I. Pon 1
,„n
Ilm,
Wednatdav I**"'*!
*•"»S»<IW6S »trosl"
torn
<tviMGs pirosns
iiMf
r».Wir»At$ZMltM?y-A!loy
Exhibit I - Part II
S a v i n g s - D e p o s i t s
Individuals,
Other time
partnerships,
Savings
deposits 1/
and corporations
"on s
T i m e
Total
n
m
and
1961- -April 26
Dec* 27
38,175
41,472
27,819
5,480
5,969
4,876
5,421
1962--Aug.
Sept.
Oct.
Nov.
Dec.
29
26
31
28
26
47,729
48,103
48,658
49,023
50,011
33,404
33,739
34,246
34,459
34,712
8,428
8,540
5,897 '
5,824
5,724
5,974
6,219
1963-—Jan.
2
9
16
23
30
50,386
50,603
50,873
51,135
51,302
34,963
34,993
35,042
35,106
35,143
1/
30,082
8,688
8,590
9,080
9,200
9,287
9,390
9,463
9,555
6,223
6,323
6,441
6,566
6,604
Includes States and political subdivisions, U. S. Government, foreign governments
institutions, and interbank.
"
and official
Exhibit J
Member Bank Reserves
(Based on averages
in millions of dollars)
Free reserves
(excess reserves minus borrowings)
All
member
Monthly averages:
1956s December
19572 December
195»8: December
1959s December
I960; December
1961:
1962;
1963^
November
December
January
February
March
April
May
June
July
August
September
October
November
December
January p
Borrowings
Reserve City Banks
City
Chicago
Other
Country
All
member
All
member
{Total reserves
held seasonally
adjusted 1/
All
member
- 86
669
- 91
-105
- 80
-109
10
- 77
- 32
-101*
- k
17,20.1
17,077
17,912
17,978
18,233
509
l*2l*
- 50
lii
- 13
19.059
- 36
=133
- I4I
-U2U
5i*6
k3h
ill
11
- 22
-
2
3
6
379
1*1*0
- 2k
370
- 12
-
1*1*2
18
7
- 19
- lit
h3k
k37
378
1+19
1*70
265
385
50
10
3k
13
• 62
13
- 20
3
3
6
- 10
- 1
- 7
- 11
- 6
13,977
19,062
18,986
19.060
19,11*8
19,253
19,312
19,318
19,237
19,305
19,1*27
19,1*81*
19,606
19,681
Beginning July 26, 1962, figures for both New York and the City of Chicago include banks formerly classified
as central reserve city and three banks whose classification as reserve city is continued.
p - Preliminary.
*
.•
*
1/ Revised series„ Back data and seasonal factors available, Exhibit L, "Banking and"Monetary Developments" for
December 1962.
NOTE:
Exhibit K
Liquid Assets Held by the Public - Seasonally Adjusted Series 1/
(Amounts in billions of dollars| ratios expressed as percentages)
Time deposits
End of
year
or
month
Total
Savings Uo s .
!J S Govt
Demand
Postal
and
Govt, securities
deposits
Commercial Mutual Savings loan
savings maturing
and
savings System shares bonds within one
.
banks
currency
banks
rear 6/
3/
5/
4/
2/
|Liquid assets
J
to gross
^national proI
duct 7/
Rati 6sT
Demand"
deposits
and
currency
to gross
national
product?/
—TO
19514
m
1957
l953
L959
i960
.961
Qr* ^
Nov,
Dec,
®:1
343.2
356.0
373.1
393=9
399.2
420,7
4 22.2
424.6
1962
Jan,
1+27
Feb,
430
Mar.
135
Apr.
438
May439
June
442
July p
444
Aug, p
447
Sept,p
419.0
Oct, p
453. 4
Nov,
456.8
jDec, p
458.3
Jan. p
n.a.
p
or footnotes see next
35.0
32,6
iS:
134133.
31.2
30,3
29.9
28,7
27,5
138.8
139 o 7
138.4
38,0
142.6
81.5
82.5
82.5
38.3
0.6
142.0
85
38.6
38.8
0.6
0,6
87
39.0
39
39
39
,6
141.7
142.0
142.3
142.2
143.4
142.8
142.3
142.2
141.3
142.5
143.8
143.4
144.5
144.2
page
86
88
89
91
91
92
93
95
96.8
97.6
99-9
38.2
40.0
40=
40,
40.
4le
4i«
41.6
0.7
0.7
,6
,6
,6
,6
,6
6
,6
.5
•5
68.9
69.8
70.5
47.3
47.4
47.4
42.6
71.1
47.
47.
47=
47.
47.
47.
47.
47.
47.
47=
47,
47.
47.9
42.4
43.3
45.5
45.6
45.7
46,9
71.8
72.8
73.4
74.0
74.8
75.4
76 4
77 4
78 2
79 2
80.0
U o 9. o
41.7
42.6
46.8
78.2
78.8
26,3
26.1
79.5
25.9
80.3
25.6
49.2
46.6
47.2
X T
11:3
54.4
53.6
54,8
52.6
53.0
53*1
53.2
53.0
53.2
53.1
52.8
52
52
52
52.6
52.2
52.6
52.7
48.2
46.8
46.8
Commercial
bank deposits
& currency to
liquid assets
(2+3*1)
80,9
25.5
52.6
52.8
noa«
T
This is a new series first shown in ^Banking and Monetary Developments M for November 1962^ and differs from the pne
previously shown in concept and coverageo Back figures available from Banking Section, Division of Research and
^
Statistics0
http://fraser.stlouisfed.org/
zOTEs
Federal Reserve Bank of St. Louis
Exhib it^K^fCmitinued )
Excludes holdings of the United States Government, Government agencies and trust funds, domestic
commercial banks, and Federal Reserve Banks. Adjusted to avoid double counting whereever nossible.
All series adjusted for seasonal variation by the X-9 variant of Method II developed by the Bureau
of the Census.
Data are for demand deposits adjusted and currency outside banks and are as of the last Wednesday
of the month. In cpncept the figures agree with the daily average money supply described in detail
in the Federal Reserve Bulletin for August 1962, p» 91*1, except that demand deposits held by mutual
savings banks and by savings and loan associations have been deducted to avoid double counting.
Demand deposits of commercial banks n Alaska and Hawaii are included beginning January 1959 and
August 19!?% respectively, except that one national bank in Alaska and 1 national bank in Hawaii
were included in April 195k and April 1959, respectively. Demand deposits due to banks in United
States possessions are included throughout.
Total time deposits at commercial banks except interbank, U. S. Treasurer's open account, and
postal savings redeposited in commercial banks. Data are as of the last Wednesday of month except
June 30 and December 31 when call data for these dates were used when available. Time deposits
of commercial banks in Alaska and Hawaii and time deposits due to banks in U. S. possessions are
included as indicated for demand deposits in footnote 2 above.
Figures compiled by the Federal Savings and Loan Insurance Corporation except that prior to 1955
data are Board estimates based on monthly figures of inflow of new savings and withdrawal of
savings capital compiled by the Federal Home Loan Bank Board.
Includes all types of savings bonds held by investors other than commercial and mutual savings
banks and U. S. Government agencies and trust funds. Holdings of savings and loan associations
are also excluded beginning in February I960, the earliest date for which separate figures for
these institutions are available. Figures are from data compiled by the U. S„ Treasury Department.
Beginning December 1950 figures include Treasury marketable securities and Federal agency securities maturing within one year, except holdings of domestic commercial, mutual savings, and
Federal Reserve Banks, Government agencies and trust funds, and beginning February I960, savings
and loan associations. Figures have been adjusted tc include partially tax-exempt securities 12
months prior to first call date, and, prior to 1956, nonmarketable Treasury savings notes with
maturities up to 36 months. Prior to December 1950 figures for marketable issues include securities callable within one year. Figures represent par value and are from the U. S. Treasury
Department's Survey of Ownership of U. S. Government securities.
Gross national product figures are available quarterly and annually only. Data for total liquid
assets used in computing these ratios are quarterly averages calculated for four dates (each
month of the current quarter and the last month of the preceding quarter).
@FedFRASER