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January 1977 L.4.3 Not for Publication s> BANKING AND MONETARY DEVELOPMENTS ' f ^ff F6 l | l 5 ** December 1976 Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System Table 1 Changes in Commercial Bank Credit, Money Stock and Time Deposits 1975 4 th Qtr. Oct.p Nov.p Dec.p 5.6 8.0 12.4 9.5 1.9 10.6 —6.4 10.3 28.0 Year Year 4.4 6.4 4.9 7.8 57.5 21.5 36.8 5.3 44.3 26.3 Other securities 3.6 3.2 -1.0 7.4 -4.1 2.2 8.3 6.3 3.3 22.0 —6.4 Loans^ -.7 5.0 1.5 8.3 2.3 1.8 8.5 8.0 18.5 5.8 -.5 -4.2 .8 -5.3 7.1 -7.7 -2.8 4.2 9.8 19.5 13.0 -3.4 Real estate loans 3.2 7.7 8.0 7.1 8.9 6.9 6.0 7.1 6.7 7.5 10.0 Consumer loans -.7 n.a. 4.9 n.a. 4.0 5.7 11.3 n.a. 8.9 7.5 U.S. Govt, securities Business loans f 1976 1st 2nd 3rd Qtr. Qtr. Qtr, 1st half Total bank credit—^ ( 1976 2nd half 4.2 7.4 n.a. adjusted for loans sold to selected affiliates I Total bank credit—^ 4.4 6.3 4.9 7.5 5.5 4.3 7.0 7.9 12.2 9.4 1.9 -.7 4.8 1.6 8.0 2.1 1.0 8.0 7.8 18.2 5.7 -.5 .7 -4.9 6.5 -7.4 -2.2 3.5 9.4 18.6 12.9 -3.4 4.1 5.8 5.6 5.7 4.3 6.8 4.1 7.3 13.7 7.9 8.6 6.0 11.0 4.6 7.3 5.7 16.1 14.0 15.6 18.1 Time other than CD's 12.2 15.7 13.9 16.3 16.1 11.3 15.0 17.1 17.3 17.9 15.3 CD's (dollar change in billions) -6.9 -19.1 -12.3 —6.8 -9.7 -2.6 -8.2 1.4 -.4 .1 1.7 1/ Loans— 1 Business Loans * Money stock - M^ Total time deposits * -4.2 1/ Adjusted to exclude domestic interbank loans. n.a. - Not available. 8.1 — Table 2 Loans and Investments at All Commercial Banks (Seasonally Adjusted) Date Total-/ 1/ Loans— U.S. Gov 1 1. Securities Other Securities (In billions of dollars) 1972--December 1973--December 1974--December 1975--December 31 31 1976--January February March April May June July August September October November December 28 25 31 28 26 30 28 25 29 27 24 31 31 2/ 3/ - 558.0 633.4 690.4 721.1 378.9 449.0 500.2 496.9 62.6 54.5 50.4 79.4 116.5 129.9 139.8 144.8 p p p p p p p p p p p p 723.3 726.7 731.2 734.5 737.6 738.8 743.1 748.7 752.5 760.3 766.3 767.5 497.3 497.8 499.7 500.5 500.6 500.7 504.7 507.6 511.4 519.3 521.8 521.6 81.0 84.4 88.2 90.0 93.0 94.0 92.7 95.0 94.0 93.5 94.3 96.5 145.0 144.5 143.3 144.0 144.0 144.1 145.7 145.1 146.1 147.5 150.2 149.4 1/ Adjusted to exclude domestic commercial interbank loans. p - Preliminary 2/ Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million, of which $500 million were in loans and $100 million in "other securities." 3/ Beginning October 31, 1974, as the result of the liquidation of one large bank total loans were reduced by $1.0 billion; business loans by $0.6 billion; real estate loans by $0.2 billion; nonbank financial loans by $0.2 billion; and "other securities" by $0.5 billion; however, business loans were increased and real estate loans were reduced by $0.1 billion as the result of loan classifications at one large mideastern bank. Table 3 LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES IjOans sold outright by commercial banks (oiitstanding in billions of dollars, N.S.A.) Sold to 1 / Sold to Affiliates — lonbank public —' Business Business Business Total Total Loans Loans Total Loans Date Commercial bank credit (seasonally adjusted) Total loans and investments Original Adjusted 3/ Total Loans Original Adjusted 3/ Business Loans Original Adjusted 4/j 1971--Dec. 4.5 1972--Dec. 4.4 1973--Dec • c //: / 6.1 1974-- D e c . ^ / n.a. 1975- -Dec. n.a. 2.0 2.0 2.9 n.a. n.a. 2.8 2.6 4.3 4.8 4.4 1.6 1.7 2.6 2.7 2.5 1.7 1.8 1.8 n.a. n.a. 0.4 0.3 0.3 n.a. n.a. 485.7 558.0 633.4 690.4 721.1 488.5 560.6 637.7 695.2 725.5 320.9 378.9 449.0 500.2 496.9 323.7 381.5 453.3 505.2 501.3 116.1 130*2 156.4 183.3 176.0 117.7 131.9 159.0 186.0 178.5 1976 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec . n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a 4.3 4.5 4.2 4.2 4.4 4.5 4.5 4.0 3.9 3.8 3.8 3.8 2.5 2.7 2.6 2.6 2.7 2.8 2.8 2.5 2.5 2.4 2.4 2.4 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. 723.3 726.7 731.2 734.5 737.6 738.8 743.1 748.7 752.5 760.3 766.3 767.5 727 .6 731.2 735.4 738.7 742.0 743.3 747.6 752.7 497.3 497.8 499.7 500.5 500.6 500.7 504.7 507.6 501.6 502.3 503.9 504.7 505.0 505.2 509.2 511.6 176.6 175.1 171.4 170.5 170.7 170.2 171.0 171.0 179.1 177.8 174.0 173.1 173.4 173.0 173.8 173.5 756.4 764.1 770.1 771.3 511.4 519.3 521.8 521.6 515.3 523.1 525.6 525.4 172.0 174.8 176.7 176.2 174.5 177.2 179.1 178.6 28 25 31 28 26 30 28 25 29 27 24 31 P P 7/ PP P P P P P P P P n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. zhes. Beginning August 28, 1974, loans sold outright to selected bank affiliates reflect a newly issued definition of the group of affiliates included as well as a somewhat different group of reporting banks. 2/ To other than banks 1 and bank-related affiliates or subsidiaries. 3/ Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. 4/ Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. 5/ Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans. 6/ Beginning October 31, 1974, as the result of the liquidation of one large bank, total loans and investments were reduced by $1.5 billion; total loans by $1.0 billion; and business loans by $0.6 billion. However, as the result of loan reclassifications at another large bank, business loans were increased by $0.1 billion. J Beginning March 31, 1976, as the result of loan reclassifications in Chicago City and in the San Francisco District, business loans were reduced by $1.2 billion. ) preliminary n.a. not available Table 4 Loans at all Commercial Banks Seasonally Adjusted Business Real Estate Consumer Security Nonbank Financial Agriculture (I i billions of do liars) 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. 1975—Dec. 31 31 31 1/ 2/ 3131 1976—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. 28 25 31 Dec . 28 P 26 30 28 25 29 27 24 31 P P P P P P P P 116.1 130.2 156.4 183.3 176.0 81.4 98.1 117.7 130.2 134.4 60.9 71.8 83.4 87.0 89.9 10,8 14.7 12.2 11.4 12.3 15.9 22.1 28.9 33.3 28.0 12.7 14.5 17.5 18.4 20.4 176.6 175.1 171.4 170.5 170.7 170.2 171.0 171.0 172.0 174.8 176.7 176.2 135.2 136.4 138.2 139.0 140.0 140.6 141.5 141.7 142.7 143.5 144.4 145.6 90.3 90.4 90.8 91.6 91.8 92.1 93,1 93.8 94.7 95,4 96.0 n.a. 10.6 11.1 13.3 13.3 13.8 14.2 14,3 15.9 15.2 16.7 15.8 15.3 29.0 29,3 28.9 28.7 28.1 27.2 26.9 26.1 25.8 26.5 26.6 25.9 20.6 20.8 21.2 21.4 21.8 22.0 22,2 22.5 22.9 23.2 23.4 23.7 n.a. - Not available. P " Preliminary. 1/ Beginning June 30, 1974, data revised to include one large mutual savings bank which converted to a nonmember commercial bank. Real estate loans were increased by $.5 billion. 2/ Beginning October 31, 1974, as the result of the liquidation of one large bank, business loans were reduced by $0.6 billion; real estate loans by $0.2 billion; and nonbank financial loans by $0.2 billion. However, business loans were increased and real estate loans were reduced by $0,1 billion as the result of loan reclassifications at one large mideastern bank. 3/ Beginning March 31, 1976, as the result of loan reclassification business loans were reduced by $1200 million, real estate loans increased by $800 million; and nonbank financial by $200 million. Changes in L o a n s and Table 5 I n v e s t m e n t s at A l l C o m m e r c i a l B a n k s , S e a s o n a l l y A d j u s t e d (In b i l l i o n s of d o l l a r s ) 1976 Item L o a n s and Investments U. S. G o v ' t , 2/ securities Nov. Dec. Jan. p Feb. p +5.9 -1.1 +2.2 +3.4 + .8 +2.6 +1.6 March p April p May p 44.5 +3.3 +3.1 +1.2 +4.3 +3.4 +3.8 +1.8 +3.0 +1.0 June p Sent.p Oct. p Nov. p Dec. p +5.6 +3.8 +7.8 +6.0 +1.2 -1.3 +2.3 -1.0 -.5 +.8 +2.2 July p August p Other securities +1.6 -2.1 + .2 -.5 -1.2 + .7 1/ + .1 +1.6 + .4 +1.0 + .4 +2.7 —. 8 Loans 2/ +3.5 -1.6 + .4 +.5 +1.9 + .8 + .1 + .1 +4.0 +2.9 +3.8 +7.9 +2.5 -.2 Business + .8 -1.1 + .6 -1.5 -2.5 -.9 + .2 -.5 +.8 1/ +1.0 +2.8 +1.9 -.5 Real estate +.6 + .9 + .8 +1.2 +1.0 + .8 +1.0 + .6 + .9 + .2 +1.0 + .8 +.9 +1.2 Consumer + .5 + .9 + .4 + .1 + .4 + .8 • +.2 + .3 +1.0 +.7 + .9 + .7 +.6 n.a. Security +1.4 -.4 -1.7 +.5 +2.2 1/ + .5 + .4 + .1 +1.6 -.7 +1.5 -.9 -.5 -2.0 +1.0 + .3 -. 6 -.2 -.6 -.9 -.3 -.8 -.3 + .7 +.1 -.7 + .2 + .4 + .2 + .2 + .3 +.4 + .3 +.2 + .3 +1.5 +1.1 Nonbank financial v Agriculture +.2 + .3 + .2 + .2 + .4 All other + . 1 -.1 -.9 -.5 +1.0 + .1 1/ -1.6 i 3V Less than $50 million. 2_/ Adjusted to exclude interbank loans. p - Preliminary. +1.3 +.9 -.3 n.a. 1915 Item Table 5A Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted Adjusted for Loans Sold to Affiliates lln billions of dollars) • 1976 ' Dec. Jan. p Feb. p Mar. p Apr. p May p June p +5.9 -1.4 +2.1 +3.6 +4.2 +3.3 +3.3 +1.3 +4.3 +5.1 +3.7 +.8 +2.6 1.6 3.4 +3.8 +1.8 3.0 +1.0 -1.3 +2.3 -1.0 Other securities +1.6 -2.1 +.2 -1.2 + .7 + •1 +1.6 +.4 Loans 2/ +3.5 -1.9 + .3 + .7 +1.6 +.8 +.3 + .2 +4.0 -1.4 + .6 -1.3 -2.6 -.9 +.3 -.4 + .8 Loans and Investments 2/ U. S. Gov't, securities Business Nov. + .7 -.5 i/ 1 1/ Less than $50 million. 2/ Adjusted to exclude interbank loans; p - Preliminary. July p Aug. p Sept.p Nov. p Dec. P +6.0 +1.2 -*. 5 +.8 +2.2 +1.0 +.4 +2.7 -.8 +2.4 +3.7 +7.8 +2.5 -.2 -.5 +1.0 +2.7 +1.9 -.5 Oct. p +7.7 @ Table 6 Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, Not Seasonally Adjusted Adjusted for Loans Sold (In billions of dollars) Last Wednesday of November to end of December Item 1971 1970 1972 1974 1973 1976o 1975r . All commercial banks — Total loans U. S. Gov't, securities Other securities Total +12.0 +4.8 +1.6 +18.4 +9.4 +4.7 +0.1 +14.2 +8.7 +2.3 +2.4 +13.4 +14.5 +0.5 +4.1 +19.1 +15.6 +3.8 +2.2 +21.6 +11.0 +3.9 +3.1 +18.0 +9.7 +3.5 +3.6 +16.7 All Large Banks 2J 3/ Total loans U. S. Gov't, securities Other securities Total +9.0 +3.3 +• 8 +13.1 +5.3 +2.9 —. 6 +7.6 +5.7 +2.0 +1.1 +8.8 +12.4 +1.4 +2.7 +16.5 +12.6 +2.4 +0.8 +15.8 +8.5 +2.2 +1.6 +12.3 +7.0 +2.2 +2.2 +11.4 Other banks —^ ^ Total loans U. S. Gov't, securities Other securities Total +3.0 +1.5 +.8 +5.3 +4.1 +1.8 40.7 +6.6 +2.9 +0.3 +1.2 +4.5 +2.1 -0.9 +1.4 +2.6 +2.9 +1.5 +1.4 +5.8 +2.5 +1.7 +1.5 +5.7 +2.7 +1.2 +1.4 +5.3 Ypar ended Tlerember Item 1976o 1975r 1974 1973 1972 1971 1970 2/ All commercial banks — Total loans U. S. Gov't, securities Other securities Total +25.2 +17.5 +4.7 +47.4 -3.7 +29.7 • +5.0 +31.0 +53.4 -3.8 +10.3 +59.9 +72.9 —8.8 +13.5 +77.6 +58.8 +2.1 +12.4 +73.3 +30.0 +3.2 +17.9 +51.1 +11.9 +7.0 +14.8 +33.7 All Large Banks 2J U Total loans U. S. Gov't, securities Other securities Total +6.4 +9.8 +1.4 +17.6 -17.7 +16.4 -2.4 -3.7 +31.8 —1.8 +1.4 +31.3 +44.7 —4.6 +5.1 +45.2 +34.4 +0.7 +3.6 +38.7 +12.9 +0.9 +7.7 +21.5 +4.1 +4.5 +8.6 +17.2 Other banks Total loans U. S. Gov't, securities Other securities Total +18.8 +7.7 +3.3 +29.8 +14.0 +13.3 +7.4 +34.7 +21.5 -2.0 +9.0 +28.5 +28.2 -4.1 +8.4 +32.5 +24.4 +1.4 +8.8 +34.6 +17.1 +2.3 +10.2 +29.6 +7.8 +2.5 +6.2 +16.5 NOTE: 1/ 2/ 3/ Data exclude all 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. Allowance has been made in monthly changes for all loan and security reclassifications. For description of reclassifi cations, see Table 3 and 8. Less than $50 million. Based on revised reporting beginning July 1969. Changes have been adjusted to maintain comparability of series. Based on revised coverage beginning July 1966, and January 1967-1976. Table 7 Changes in Commercial and Industrial Loans at Large Commercial Banks (In millions of dollars) End of November to end of December i/ Business of borrower 1972 1974 1975 1976p 1972 1973 1974 1975 1976p -320 814 554 88 -1134 787 241 195 357 327 73 -544 -27 117 96 38 115 —58 2208 -1783 1103 1096 2119 -531 —668 -398 . -435 405 1002 -607 875 1393 -528 -593 -572 -598 698 815 -1176 221 1117 -75 -3 174 163 -2269 -4280 2810 4476 -293 133 -427 306 399 119 115 -223 187 18 99 9 70 -171 -1180 -2967 —86 2066 2323 —18 223 -83 464 -890 —618 370 1381 -568 63 -227 ' 98 333 -318 —810 585 597 43 8 -132 -11 -14 289 -765 429 524 401 -276 -185 -336 -131 270 143 781 417 126 -197 203 318 -147 -166 964 -714 511 4 -397 40 92 4 -333 -1350 811 1231 409 -151 -110 -176 -11 51 —608 395 414 -128 -29 55 -57 -27 1280 671 105 904 -178 31 235 691 117 -2917 2530 -2494 2611 125 1349 1187 1150 214 —866 -363 404 193 110 -56 298 149 234 -641 -445 91 4 545 -1 -44 279 390 -1410 —1686 2116 2333 860 66 59 563 573 -1261 867 -665 737 -150 808 -216 -127 -106 -1064 4010 2198 1896 2080 571 1481 1096 326 1874 -249 366 . 3154 -743 928 1276 57 19 -413 2010 760 -1288 1251 270 76 144 486 -2525 1072 2249 30 63 882 129 553 163 223 254 52 971 704 36 186 -31 154 -4787 17718 -10656 16410 2679 1696 4816 1587 1051 2621 368 —686 2297 576 581 453 2420 -91 -11342 20339 18707 3255 7236 2168 1605 1504 -4419 Five most comparable weeks used through out. Changes are compiled from December 29, 1971; January 3, 1973; January 2, 1974; December 31, 1974; and December 31 , 1975. These data cannot be linked with all commercial bank data which are always for December 31. 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 Communication Other public utilities Construction All other types of business Bankers acceptances Services Other Foreign business concerns Classified Unclassified Total Change 1/ 2/ 1973 Year en ding December^/ 207 158 -611 -634 23 375 4 366 -32 37 -91 46 234 62 61 67 888 219 222 448 45 923 179 337 407 104 2468 396 2864 Table 8 Loans and Investments of All Commercial Banks (In billions of dollars) (Not seasonally adjusted) Loans and investments 1966- -Dec. 1967 -Dec. 1968 -Dec. 1969- -Dec, 1970--Dec. 1971--Dec, 1972- -Dec. 1973--Dec, 1974 -Dec. 1975 -Dec, 31 30 31 % 75/ w 31 324.ol/ 360.8 400.4 412.1 446.8 497.9 571.4 647.3 705.6 737.0 731.4 1 9 7 6 — J a n . 28p 720.8 Feb. 25p Mar. 31p(old) 729.6 Mar. 31p(new)&729.6 732.1 Apr. 28p 735.1 26p May 743.3 June 30p 740.3 July 28p 746.1 Aug. 25p 752.9 Sept,. 29p 758.7 Oct. 27p 766.0 Nov. 24p 784.4 Dec . 31p U.S. Gov 1 t. Other securities 56.2 62.5 64.5 54.7 61.7 64.9 67.0 58.3 54.5 84.1 84.8 85.4 89.3 89.3 90.2 90.5 90.8 89.5 91.8 92.6 93.5 96.9 101.7 " A ™ . " Data^xaud^domestlrtoterblnk loans. NOTE: Total loans 104.7 117.1 130.6 140.5 145.5 219 oV2/ 236.8 264.4 286.1 299.0 328.3 387.3 458.5 510.7 507.4 144.0 143.6 143.5 143.5 145.2 144.6 145.3 145.6 145.8 147.0 147.0 148.6 150.2 492.6 491.9 496.9 496.9 496.7 500.0 507.2 505.2 508.5 513.3 518.2 520.6 532.6 48. $ 61.5 71.5 71.3 86.1 Business 80.6 88.4 98.4 108.4 112.5 118.5 132.7 159.4 Real estate 53.9 58.5 Security 9.0 10.5 11.8 179.4 130.6 134.8 10.7 12.1 12.9 17.6 14.6 13.6 14.8 174.4 173.5 172.5 171.3 170.6 170.8 172.4 170.7 170.3 172.5 174.2 176.0 179.5 135.1 135.7 136.6 137.4 138.3 139.4 140.5 141.5 142.1 143.4 144.4 145.1 146.0 10.4 10.9 13.2 13.2 12.5 13.5 14.5 13.9 15.5 14.9 16.4 15.8 18.4 186.8 72.5 81.6 98.4 118.0 Farm Consumer 8.6^- 11.2 38.3 40.6 46.3 51.0 53.6 18.2 20.2 72.1 83.7 87.3 90.3 9.3 9.7 10.3 12.5 14.3 17.3 20.2 20.4 20.9 20.9 20.3 21.9 22.4 22.6 22.9 23.1 23.2 23.2 23.5 Consumer and "other loans" were partly estimated for all dates. 61.2 89.8 89.4 89.6 89.6 90.7 91.4 92.5 93.7 94.7 95.6 96.1 96.3 n.a. Nonbank financial institutions 13.3 12.5 15.9 16.9 23.4 30.5 35.2 29.6 28.2 28.3 28.8 29.0 28.3 27.9 28.2 27.1 26.4 26.0 26.0 26.0 27.4 All other 15.3 16.9 19.3 20.6 21.2 24.7 28.8 35.0 38.8 38.4 34.5 33.7 35.3 35.5 35.0 35.1 36.7 35.7 36.6 37.8 37.9 38.2 n.a. Other data are partly estimated on all 1/ Be ginning11 J u n ^ 9^19661 $1.1 billion of balances accumulated for the payment of personal loans were deducted from time deposits and "all other" 2/ Beginning June 30, 1966, about $1 billion of participation certificates previously included in agricultural and "all other" loans were reclassified % 5/ to Beginning % n e ° l 9 7 2 , % I n l s s Toln!*3^rl°r^ducld^b^*$400^2illion!^nonbl^k*financlal Institutions Increased by $300 million, and "other" loans increased by $100 million as the result of loan reclassifications at one large bank. 6/ 8/ ~~ Beginning ^ch*31,*1976? ls%e'rlsult of £ I^ill^2^jicltionl*b^linfss°loanl^^%rl^redulld"by*$1200 million, real estate loans increased by $800 million; and nonbank financial by $200 million, and all other by $200 million. TABLE 9*-/ Ratios of Total Deposits L O A N S M e m b e r B a ri k s Reserve City Banks All City commercial New York of banks Total City Chicago D A T E 1963- •Dec. 1964- •Dec. 1965- •Dec. 1966- -Dec. 1967- •Dec. 1968- Dec. 1969- Dec. 1970- Dec. 1971- Dec. 1972- Dec. 1973- Dec. 1974- Dec. 1975- •Dec. 25 31 31 31 30 3 ^ / nil/ 31* 31* 31* 31* 1976—Jan. 28*p Feb, 25*p Mar, 31*p Apr, 28*p May 26*p June 30*p July 28*p Aug. 25*p Sept.29*p Oct. 27*p Nov, 24*p Dec, 29*p Other 58.6 59.9 67.4 62.1 63.3 60.5 61.9 69.3 64.4 65.0 63.7 65.4 75.9 70.2 68.7 65.8 67.9 83.5 77.0 70.2 63.8 65.8 79.9 70.8 68.1 64.7 (63. 66.8 83.5 (76.3) 75.1 69.1 72.0 (69. 75.7 102.8 (86.4) 89.5 79.5 67.3 (66. 69.9 87.5 (79.6 80.6 73.3 65.7 (65. 68.0 84.1 (83.2) 78.1 71.6 67.9 (67. 70.6 85.4 (84-0) 87.2 77.3 72.0 (71. 75.3 87.7 (86.4) 93.7 81.7 72.9 (72. 76.0 87.4 (85.8) 91.5 81.9 68.7 (68. 71.5 84.6 (81.6)1 91.5 75.4 MEMBER BANK DATA NOW AVAILABLE ONLY ON CALL DATES Country 53.8 56.0 57.9 59.2 58.2 58.2 62.8 60.2 59.2 60.1 53.9 64.6 61.5 69.6 (69. 69.7 (69. 68.6 (68. 69.4 (69. 69.7 (69. 68.8 (68. 69.7 70.2 70.1 70.2 69.8 69.4 (69. (69. (69. (69. (69. (68. 9) * - Ratios in parentheses are those obtained by adding Euro-dollars to the deposit base. 1/ Total loans (adjusted to exclude loans to banks) and total deposits (adjusted to exclude cash items in process of collection). 2/ 3/ Beginning June 1969, total loans are reported gross of valuation reserves rather than net as previously reported. The higher loan level increased the ratio by about 1.3 percentage points for all commercial banks. Loan data revised to exclude only loans to domestic commercial banks. Previous data had also excluded loans to foreign commercial banks. Table 10 Honey Stock Measures and Deposit Turnovers (Seasonally adjusted; dollar amounts in billions) Ml Currency plus demand deposits!/ M2 M i plus time dep. at comm. other than .2/ large CD's M3 M2 plus deposits at nonbank thrift institutions and credit / shares— Components of money stock measures and related items Demand Currency Deposits CD's Time other than CD's Total Time Nonbank thrift, , institutions— U.S. Gov't. deposits (all m e m b e r ) Turnover outside N.Y. City (per cent) 1973-December 270.5 571.4 919.5 61.5 209.0 63.5 300.9 364.4 348.2 5.0 75.8 1974-December 283.1 612.4 981.6 67.8 215.3 89.8 329.3 419.1 369.3 3.0 86.6 1975-December 294.8 664.3 1092.9 73.7 221.0 82.9 369.6 452.4 428.8 3.0 84.7 1976-Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec . 295.1 296.6 298.1 301.8 303.5 303.2 304.9 306.4 306.3 309.8 309.8 311.9 670.0 677.9 682.6 690.8 695.7 698.5 705.4 710.8 716.4 725.8 732.0 739.5 1103.5 1116.7 1126.5 1140.0 1150.0 1157.4 1169.9 1182.3 1195.3 1211.7 74.2 75.0 75.7 76.7 77.3 77.6 78.1 78.6 79.1 79.8 220.9 221.6 222.4 225.2 226.2 225.6 226.8 227.8 227.2 374.9 381.3 384.4 388.9 392.2 395.3 400.4 404.4 410.1 454.1 456.7 457.6 460.4 460.4 465.9 470.0 468.7 472.5 433.7 438.9 444.3 449.5 454.4 459.2 464.6 471.9 479.3 2.6 2.6 2.5 2.5 2.3 3.7 2.7 3.9 3.8 80.3 80.7 62.1 63.8 416,0 422.2 427.6 478.0 484.2 491.5 486.2 491.7 497.0 3.4 4 S 3*2 82.9 89.6 92.5 88.4 88.2 90.9 89.9 94.8 94.0 89.8 1223.4 1236.3 230.0 229.5 231.2 79.2 75.4 73.2 71.4 68.2 70.6 69.6 64.4 62.4 62.0 310.2 311.3 311.1 312.3 312.3 735.0 737.6 739.0 740.5 740.2 n.a. n.a. n.a. n.a. n.a. 80. 3 80. 6 80. 8 80. 7 80. 8 229.9 230.7 230.4 231.5 231.5 62 .8 63 .1 63 .4 63 .7 64,.9 424.9 426.4 427.9 428.2 427.9 487.6 489.5 491.3 492.0 492.8 n.a. n.a. n.a. n.a. n.a. 3.5 4.0 4.3 3.8 93.2 n.a. W e e k ending: Dec. 1 8 15 22 29 2.1 n.a. n.a. n.a. n.a. n.a. 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 collection 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 m o r e by large weekly reporting commercial b a n k s . Includes M^, plus the average of the beginning and end of month deposits of mutual savings banks, savings and loan shares and credit union shares. A v e r a g e of beginning and end of m o n t h deposits at mutual savings banks, savings and loan shares, and credit union shares. 3/ 4/ table ll-A Liquid Asset Holdings of Private Domestic Nonfinancial Investors (Seasonally adjusted monthly averages; amounts in billions of dollars, ratios in per cent) Currtmcy and Dep<)sits Other Liquid Assets Time Deposits Period Total liquid assets 1 Total 2 Dem Currency 3 Demand deposits 4 Commercial banks Thrift institutions Negotiable Commercial CD's paper 8 9 Total 7 U.S. shortterm marketable Treasury securities 10 Savings bonds 11 1970—Dec. 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. 770.9 857.4 972.0 1083.6 1175.2 632.5 719.9 816.1 887.4 944.6 49.1 52.6 56.9 61.5 67.8 151.8 161.5 176.5 183.3 186.6 198.9 233.6 264.4 294.4 321.1 232.7 273.4 319.6 348.0 369.2 138.4 136.4 154.6 196.2 230.6 23.0 30.2 39.8 58.1 79.8 21.4 20.2 22.7 34.6 40.4 42.0 31.7 34.5 43.2 47.1 52.0 54.3 57.6 60.4 63.3 1975—July Aug. Sept. Oct. Nov. Dec. 1345.4 1254.0 1262.6 1274.9 1291.5 1301.8 1012.2 1021.4 1028.8 1036.8 1047.5 1053.3 71.3 71.9 72.0 72.6 73.4 73.7 190.8 191.7 192.0 191.2 192.5 190.6 345.9 347.8 349.6 353.0 357.1 360.3 404.1 410.0 415.2 420.0 424.4 428.6 233.2 232.6 233.8 238.1 244.0 248.5 71.9 69.0 69.1 70.6 71.6 72.9 41.2 40.6 40.2 40.4 41.5 42.7 54.6 57.1 58.2 60.5 64.0 65.7 65.6 65.9 66.2 66.6 66.9 67.3 1976—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 1311.3 1322.3 1331.3 1345.3 1355.0 1366.5 1380.9 1388.7 1398.3 1415-5 1428.9 1445.5 1064.5 1078.1 1087.6 1101.6 1112.2 1118.9 1131;2 1144.0 1156.4 1171.9 1182.9 1195.7 74.2 75.0 75.7 76.7 77.3 77.6 78.1 78.6 79.1 79.8 80.3 80.7 191.0 191.8 192.0 194.5 196.0 195.0 195.9 196.7 195.7 198.3 197.5 199.5 365.8 372.5 375.9 381.1 384.6 387.4 392.7 397.1 402.7 407.9 413.8 418.7 433.5 438.8 444.0 449.3 454.3 458.9 464.5 471.6 478.9 485.8 491.4 496.8 246.8 244.2 243.7 243.7 242.8 247.7 249.7 244.7 241.9 243.7 246-0 249.9 69.5 66.1 64.1 62.3 58.9 61.1 60.0 54.9 53.4 53.6 54.1 56.0 43.1 43.3 43.6 44.4 45.8 47.2 48.0 48.2 48.3 48.7 49.6 50.5 66.5 66.8 67.8 68.5 69.1 70.0 72.0 71.4 69.6 70.2 70.9 71.5 67.6 68.0 68.3 68.6 69.0 69.4 69.7 70.3 70.8 71.1 71.5 71.9 JNuih: ror a<ascription of it<2ms,. and c<[imputation o f ratios, se<e Table 11-C. • • • • • • • / [ • 9 • ^ < TABLE 11-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 1970—Dec. 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. 1975—Dec. 26.1 25.0 24.0 22.6 21.6 20.3 48.5 49.6 49.5 49.5 50.0 47.9 30.2 31.9 32.9 32.1 31.4 32.9 75.8 77.0 78.3 79.1 80.6 81.7 20.0 19.7 19.2 18.4 17.7 17.2 1975—Q1 Q2 Q3 Q4 21.3 21.2 20.9 20.3 49.6 49.1 48.4 47.9 31.7 32.3 32.9 32.9 82.4 82.3 81.0 81.2 17.6 17.4 17.0 16.7 1976—Q1 Q2 Q3 20.1 19.9 19.7 47.5 47.1 46.6 33.4 33.6 34.2 81.8 80.9 81.3 16.3 16.3 16.1 1976—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 20.2 20.2 20.1 20.2 20.2 19.9 19.8 19.8 19.7 19.6 19.4 19.4 47.8 47.7 47.5 47.4 47.2 47.1 47.0 46.7 46.6 46.6 46.6 46.6 33.1 33.2 33.4 33.4 33.5 33.6 33.6 34.0 34.2 34.3 34.4 34.4 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. TABLE 11-C Liquid Asset Holdings Sum of columns 2 and 7. , 2 Sum of columns 3, 4, 5, and 6. 4 Money stock components after deducting foreign holdings and holdings by domestic financial institutions. The held by domestic nonfinancial three columns add to sectors. 6 Deposits at nonbank thrift institutions and credit unions, as published in money stock statistics. 7 Sum of columns 8, 9, 10, and 11. 8 Negotiable certificates of deposits over $100,000 at weekly reporting banks, except foreign holdings. 9 Commercial paper held outside banks and other financial institutions. 10 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. 11 Series E and H savings bonds held by individuals. 12 Sum of columns 3 and 4 to column 1. 14 Column 6 to colum 1. 15 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. 16 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 quarterly GNP.
@FedFRASER