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BANKING A N D M O N E T A R Y D E V E L O P M E N T S
December
1972
Banking S e c t i o n
D i v i s i o n of R e s e a r c h and Statistics
Board of G o v e r n o r s of the F e d e r a l Reserve System
TABU: I
*
,
Changes in C o m m e r c i a l Bank C r e d i t , M o n e y Stock,
and Time D e p o s i t s
Seasonally adjusted annual rates (per c e n t )
1969
1970
1971
1972
1st
4 th
2nd
Year
Half
Year
Year
Year
Qtr .
Half
2.9
8.4
11.4
14.1
13.1
14.2
14.1
10.5
U . S . Gov't, sec.
-15.7
12.6
4.7
2.1
8.2
-3.8
- -
27.7
Other securities
-0.3
20.6
20.7
10.6
11.7
9.0
8.1
5.2
8.2
4.5
12.5
17.4
14.4
19.1
18.4
9.6
10.2
3.7
5.4
12 .2
9.7
13.9
14.4
8.4
8.3
3.6
13.7
19.5
19.4
17 .9
17.6
15.0
10.0
5.3
12.7
16.7
13.3
19.0
19.0
19.0
Total bank credit
@
Loans
#
Business
loans
Real estate loans
Consumer loans
e
Adjusted
Total bank credit
Loans
$
Business loans
£ M o n e y stock
T o t a l time d e p o s i t s
Time other than C D 1 s
0
Dec. p
CD's
(Dollar change
in b i l l i o n s )
for loan sales to bank a f f i l i a t e s
3.9
8.1
11.3
14.0
12.8
14.2
14.4
10.7
9.7
4:1
9.9
17i3
14.0
19.2
18.7
9.9
12.9
3.1
4.8
12 .1
9.4
14.1
15.2
8.3
3.2
5.4
6.2
8.2
7.4
8.6
8.6
15.8
-4.9
17.9
17.9
15.3
15.6
14.0
14.2
20.8
1.4
11.0
16.2
13.2
14.7
10.8
11.2
13.2
-12.6
14.5
7.9
10.2
3,7
6.6
3.3
2.3
JL/ Beginning J u n e 1972, b u s i n e s s loans w e r e reduced by $ 4 0 0 m i l l i o n as a result
of loan r e c l a s s i f i c a t i o n s at one large b a n k .
Changes have been adjusted to take account
0
of this r e c l a s s i f i c a t i o n .
2/
Includes $ 8 0 0 m i l l i o n system matched
September 2 7 .
—/
Includes $ 3 0 0 m i l l i o n system matched
November 2 9 .
sale-purchase transac tions outstanding on
sale-purchase
transactions outstanding on
Table 2
Loans and Investments at All Commercial Banks
(Seasonally Adjusted)
Date
Total
Loans
( I n
b i l l i o n s
U.S. Gov't.
securities
of
d o l l a r s
Other
securities
)
1 9 6 8 — D e c . 31
1 9 6 9 — D e c . 31 2/
1 9 7 0 — D e c . 31
390.6
402.1
435.9
258.2
279.4
292.0
61.0
51.5
58.0
71.4
71.2
85.9
1 9 7 1 — J u n e 30 (old)
(new) 4/
July 2 8
A u g . 25
S e p t . 29
Oct. 27
N o v . 24
D e c . 31
461.1
62.8
463.7
468.4
472.4
477.2
479.8
485.7
302 .4
301.7
304.1
309.7
313.0
317.0
318.7
320.6
95.9
96.6
98.0
97.8
99.5
101.1
102.2
104.5
1 9 7 2 — J a n . 26
F e b , 23
M a r . 29
A p r . 26
May
31
June 30
July 26
A u g . 30
Sept .27
491.4
496.6
505.0
507 .4
516.1
517.5
521.9
529.8
535.3 5/
Oct. 25
Nov. 29 p
Dec . 2 7 p
540 4
- 67
549.4554.2
325.7
328.5
333.8
335,9
341.9
343.7
348.4
356.2
360.0 5/
367,2
373.6
376.6
61.6
60.9
59.9
59.1
58.8
60.7
59.7
61.0
62.3
62.6
63.1
63.2
62.3
61.4
62.0
59.9
60.6
62.0
106.0
107.1
108.9
108.9
1 1 1 . 1
110.6
111.2
112.3
113.3
113.3
115.1
115,6
1/ Adjusted to exclude domestic commercial interbank loans,
p - Preliminary.
2/ Beginning July 1969, bank credit data are revised to include all bank premises subsidiaries and
other significant majority-owned domestic subsidiaries; earlier data for commercial banks only.
A l s o total loans and investments are now reported gross of valuation reserves rather than net
as previously reported. Individual loan items have always been reported gross.
4/
Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million
are included in other securities; previously they had been included in real estate loans.
5/ Includes $800 million system matched sale-purchase transactions outstanding on September 27.
http://fraser.stlouisfed.org/
Includes # 3 0 0 m i l l i o n # y s t e m matclwd sale-purcfctse transactions outstanding on Novetfller 29.
Federal Reserve Bank ofWSt. Louis
*
#
x
~"
#
TABUE 3
loans sold outright by commercial banks and bank credit adjusted for selected loan sales
Loans sold outright by commercial banks
(outstanding in billions of dollars
N.S.A.)
Sold to
Sold to
Affiliates 1/
nonbank public 2/
Business
Business
Business
Total
Loans
1971
Jan.
Feb.
Mar .
Apr .
May
June
27
24
31
28
26
30(old
July 20
Aug. 25
Sept. 29
Oct. 27
Nov. 24
Dec. 31
4.6
4.5
4.5
4.4
4.5
4.7
2.5
2.5
2.3
2.3
2.3
2.3
2.9
2.9
2.9
2.7
2.3
3.1
2.1
2.1
1.7
1.6
1.9
K9
1.?
1.3
1.6
4.4
4.4
4.6
4.5
4.4
4.5
2.2
2.3
2.3
2.8
2.8
1.8
1.6
2.2
2.2
2.0
1972
Jan. 26
Feb. 2 3
Mar. 29
Apr . 26
May 31
June 30(old)
(new)
July 26
Aug. 30
Sept .27
4.6
4.5
4.4
4.4
4.2
3.9
2.1
2.0
2.2
2.1
4.0
4.1
4.0
1.7
1.9
Oct. 25
Nov. 29 p
Dec . 27 p
4.0
4.3
4.4
1971
Jan. 27
Feb. 24
Mar. 31
Apr. 28
May 26
June 30
July 28
Aug. 25
Sept.29
Oct. 27
Nov. 24
Dec. 31
1.9
1.8
1.8
1.8
1.9
2.0
3.0
2.9
1.8
1.6
1.6
1.6
1.6
2.8
1.8
1.6
1.6
1.7
2.8
3.0
2.9
1.9
1.7
1.7
1.8
2.7
2.5
2.3
1.6
1.6
1.7
1.5
1.4
1.7
1.7
1.6
2.3
2.4
2.3
2.3
2.5
2.6
1.4
1.6
1.5
1.5
1.6
1.7
1.7
1.7
1.7
1.7
o.i
-0.2
1972
Jan. 26
Feb . 23
Mar . 29
Apr . 26
May 31
June 30
July 26
Aug. 30
Sept .27
o.i
•o.i
•0.1
5/
•0.2
•0.3
O.I
0.1
0.1
0.1
-0.1
0.2
-0.1
-0.2
-0.1
-0.1
0.2
-0.1
0.1
0.1
0.1
0.1
0.2
0.2
5/
0.1
0.1
0.1
5/
0.1
-0.1
-0.2
-0.1
5/
0,2
•0.1
Oct. 25
Nov. 29 p
Dec . 2 7 p
1/
0.3
0.1
1/
0.1
0.1
5/
0.2
0.1
1/
0.1
C.l
0.1
0.2
-0.3
5/
0.2
3L
!/
o.i
y
0.1
-O.I
-cr.i
1.6
2.8
5/
0.1
5/
-0.2
0.1
0.3
-0.3
5/
0.2
-O.I
-0.1
0.1
•oTi
1.7
1.7
1.6
V
-0.2
%
-0.1
y
0.1
-0.1
1.8
1.8
5/
•0.1
5/
0.1
5/
-0.1
5/
%
I',
0.1
5/
5/
0.1
5/
0.1
0.1
%
5/
0.1
5/
Commercial bank credit
(seasonally adjusted)
Total loans
and investments
Original
Adjusted 3/
Total loans
Adjusted 3/
Original
0.4
0.4
0.4
0.4
0.4
0.4
440.7,/
446.1—
449.5
452.5
456.1
461.1
443.6
449.0^
452.4
455.2
458.9
464.1
293.7 ,
295.7—
296.5
298.2
30C.7
0.4
0.5
0.4
0.4
0.4
0.4
463.7
468.4
472 .4
477.2
479.8
485.7
466.5
471.1
475.4
480.1
482.6
488.6
304.1
309.7
313.0
316.3
317.5
320.6
296.6
298.6^299.3
300.9
303 .5
305.5 /
304 .8—
307.0
312 .4
316.0
319.3
320.3
323.4
0.4
0.3
0.4
0.4
0.4
0.4
491.4
496.6
505.0
507 .4
516.1
517.5
494.4
499.5
507.8
510.1
518.6
519.8
325.7
328.5
333.8
335.9
341.9
343.7
328.7
331.5
336.6
338.5
344 .4
346.0
0.3
0.3
0.3
0.3
0.3
0.3
521.9
524.2
348.4
356 .2
350.7
I
0.1
-0.1
5/
t;
5/
-0.1
0.1
6
5/
5/
5/
529.8,
535.3^
540.4
554.2
Net Change
(Billions of dollars)
556.8
13.2
14.7
9.1
8.0
9.5
13.2
6.8
12.2
10.2
12.2
6.5
14.8
11.9
6.2
14.9
14.1
12.7
20.3
5.7
14.2
12.4
19.9
5.4
20.6
12.8
14.6
9.1
7.4
9.8
13.3
6.2
11.8
11.0
20.0
3.3
2.3
10.2
18.2
10.2
12.5
11.4
20.0
10.5
18.3
11.9
11.4
20.6
10."
373.
376.6
7.0
8.2
3.2
6.9
10.1
6.8
9.5
10/
6.9
8.1
2.8
6.4
10.4
7.9
8.7
Business loans
Original
Adjusted 4/
110.3
111.3
111.1
112.4
113.4
113.0
113.6
112.1
1H.0
113.2
115.2
116.2
116.6
115.0
117.0
118.1
118.4
117.8
117.1
111.7
112.5
116.0
115.5
116.4
117.3
118.4
119.9
121.2
121.1
120.7
121.4
123.9
124.6
126.7
128.2
129.1
7.7
10.9
-2.2
6.5
9.7
-5.3
22.1
21.1
12.8
15.3
6.4
7.2
11.8
21.2
13.8
14.8
6.4
6.7
10.4
4.1
-6.2
-5.2
19.7
9.4
9.3
11.3
15.2
13.0
-1.0
7.0
24.7
6.8
20.2
14.2
19.1
10.3
19.4
7.5
21.4
6.3
16 .4
26.9
12.8
24.0
20.;
- .6
10.2
18.5
6.8
20.9
5.6
16.3
27.0
12.4
23.5
21.8
9.9
114.5
118.1
119.0
120.2
121.5
122.6
122.6
8/
122 .2122.9
125.4
126.0
128.2
129.9
130.8
7.5
10.7
-4.2
6 .4
9.5
-5.2
10.5
20.9
11.3
3.0
-6.1
-7.1
10.2
9.1
12.1
13.0
10.8
6.9
24.4
5.7
21.0
15 .9
6.3
- Pre li-.inary
Est-', a ted
1
To 1 ar.1-- ho1di'r^ co~"ar?.ec a
- ntcc ^r-'d-cr-es or f ore: ~n branches .
To other than banks' and ban I:-related a
ctes or subsidiaries.
Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches.
Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches
Less than $50 million.
I
8/
Includes $800 million system matches sale-purchase transactions outstanding on February 24
Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million are included in "other securities"
rather than in real estate loans .
Beginning June 1972, business loans were reduced by about $400 million as the result of loan reclassifications at one large bank.
2/ Includes $800 million system matched sale-purchase transactions outstanding on September 27.
10/ Includes $300 million system matched sale-purchase transactions outstanding, on November 29.
TABLE 3 - Supplementary
LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES
Date
Loans sold outright by commercesil banks
(outstanding in billions of dollars
N.S.A.)
Sold to
Sold to
Affiliates 1/
nonbank public 2/
Business
Business
Business
Total
Loans
Total
Loans
Total
Loans
1969
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
28
30
30
27
24
29
26
31
2.0
2 .8
3.7
4.24.7
5.9
6.1
5.3
2.4
2.7
3.0
3.9
4.1
3.2
1.5
2.1
2.8
3.3
3.8
4.8
4.8
3.9
1970
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
28
25
25
29
27
30
29
26
30
28
25
31
7.7
8.3
8.5
9.0
9.8
9.8
10.0
9.6
6.8
6.0
5.4
4.7
5.1
5.8
6.0
6.4
7.1
7.2
6.9
6.6
4.2
3.7
3.2
2.5
6.0
6.6
6.8
7.2
8.1
8.1
8.2
8.0
5.2
4.4
3.8
3.0
5:5 i '
1.9
2.2
2.5
3.3
3.4
2.6
0.5
0.7
0.9
0.9
0.9
1.1
1.3
1.4
4.4
5.0
5.3
5.6
6.4
6.5
6.3
6.0
3.7
3.2
2.7
2.1
Commercial bank credit
(seasonally ad iusted)
Total loans
and investments
Original
Ad iusted 3/
Total loans
Original
Ad iusted 3/
Business loans 11/
Original
Ad iusted 4/
0.5
0.5
0.5
0.6
0.7
0.6
399.8
400.6
399.5
398.9
398.6
399.5
402.3
402.1
401.3
402.7
402 .3
402.2
402 .4
404.3
407.1
406.0
271.0
271.9
271.6
272.1
273.6
275.6
277.8
279.4
272 .5
274.0
274.4
275.4
277.4
280.3
282,6
283.3
102.3
102 .4
102.7
103.4
104.2
104.6
105.1
105.7
103.1
103.7
104.6
105.6
106.7
107.9
108.5
108.3
1.7
1.7
1.7
1.8
1.7
1.7
1.8
1.6
0.7
0.8
0.7
0.8
0.7
0.7
0.6
0.6
400.3
400.4
403.9
405.9
407.7
408.4
414.3
419.5
406.3
407.0
410.7
413.1
415.8
416.5
422.5
427.5
278.5
278.3
279.6
279.3
279.1
279.5
283.2
285.7
284.5
284.8
286.5
286.5
287 .2
287.6
291.4
293.7
105.2
105.1
105.1
105.3
105.5
106.2
107.0
108.5
109.6
110.1
110.4
110.9
111.9
112.7
113.3
114.5
1.6
1.6
1.6
1.7
0.5
0.5
0.5
0.4
424.3
426.2
429.3
435.9
429.5
430.6
433.1
438.9
288.4
289.1
290.0
292.0
293.6
293.5
293.8
294.9
109.5
109.4
109.3
109.6
113.2
112.6
112.0
111.7
During
month
ending:
J une 30
July 30
Aug. 27
Sept. 24
Oct. 29
Nov. 26
Dec. 31
0.8
0.9
0.5
0.5
1.2
0.2
-0.8
0.6
0.7
0.3
0.3
0.9
0.2
-0.9
0.6
0.7
0.5
0.5
1.0
5/
-0.9
0.5
0.6
0.3
0.3
0.8
0.1
-0.8
0.2
0.2
5/
5/
0.2
0.2
0.1
0.1
0.1
5/
5/
0.1
0.1
-0.1
2.4
-3.3
-1.8
-0.9
2.7
8.4
-0.6
4.2
-1.2
-0.3
0.6
5.7
8.3
-3.2
4.0
-1.3
2.2
6.6
8.2
9.6
6.9
6.6
1.8
4.4
8.7
12.5
9.9
3.0
1.1
3.5
8.2
9.3
4,6
5.7
6.9
1970
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
2.4
0.6
0.2
0.5
0.8
5/
0.2
-0.4
-2.8
-0.8
-0.6
-0.7
1.9
0.7
0.2
0.4
0,7
0.1
-0.3
-0.3
- 2.4
-0.5
-0.5
-0.7
2.1
0.6
0.2
0.4
0.9
5/
0.1
-0.2
-2.8
-0.8
-0.6
-0.8
1.8
0.6
0.3
0.3
0.8
0.1
-0.2
-0.3
-2.3
-0.5
-0.5
-0.6
0.3
5/
0.1
0.1
-0.1
0.1
-0.1
-5.4
0.3
10.5
5.9
5.3
2.1
17.3
15.1
13.7
5.4
8.7
18.4
0.9
2.1
10.9
1.0
7.8
2.0
17 .3
14.2
5.6
3.1
7.0
16.1
-3.9
-0.9
5.6
-1.3
-0.9
1.7
15.9
10.6
11.3
2.9
3.7
8.3
5.1
1.3
7.2
-5.7
-1.1
8/
%)
28
25
25
29
27
30
28
25
30
28
25
31
Net Chzinge
(Billions >f dollars
(Annual rates in per cent)
5/
5/
5/
5/
0.1
-0.2
5/
5/
5/
0.1
1/
-0.1
1/
-0.1
5/
5/
-o.i
Partly estimated.
Adjusted to maintain comparability with subsequent data,
c - Corrected .
2.9
1.6
15.9
9.5
-0.4
-0.4
1.2
4.5
2 .2
2.3
8.0
9.0
36 8
11.1
-1.1
-1.1
3.3
7.0
10.4
11.5
12.5
13.5
6.7
-2.2
14 .4
5.5
3.3
5.4
10.8
8.6
6.4
12 ,7
-13.d
-6 .4
-6 .4
-3.2
#
•
•
•
e
#
#
e
#
e
»
t
>
TABLE 4
NONDEPOSIT SOURCES OF FUNDS AND METHODS OF FINANCE
(Outstandings in billions of dollars)
Date
Total
Total
Euro-dollars
Through branches outside U.S.
Territories
Foreign and possessions
Through
brokers
and 1/
dealers
Direct^^
Commercial
paper 2/
Loans sold under
repurchase agreement 3/
Customer
To the
nonbank, guaranteed Ineligible
To bank
paper
acceptances
public—
Total affiliates—
1969
May
Dec.
23
31
12.7
19.6
10.9
14.5
9.9
12.8
0.6
0.8
0.1 6/
0.6
0.2 6/
0.3
0.8
4.3
1.0
0.8
0.4
0.6
0.6
0,2
0.1
0.3
It
0.1
1970
June
Dec.
24
30
21.5
11.7
13.1
8.6
12.2
7.7
0.6
0.7
0.2
0.1
0.1
7.6
2.3
0.7
0.7
0.7
0.7
0.1
It
0.3
0.3
0.5
0.2
r
1971
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
30
28
25
29
27
24
29
5.2
5.2
4.9
6.0
6.6
7.0
4.4
2.2
2.1
1.9
2.8
3.3
3.7
1.3
1.5
1.5
1.4
2.5
2.9
3.3
0.9
0.6
0.6
0.5
0.4
0.4
0.4
0.4
1/
1972
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.,
Sept.
26
23
29
26
31
28
26
30
27
5.0
4.7
5.1
4.8
4.6
4.6
4.7
4.7
5.3
1.8
1.4
1.8
1.6
1.7
1.7
1.6
1.5
2.2
1.4
1.1
1.5
1.4
1.5
1.4
1.3
1.3
2.0
0.3
0.3
0.3
0.3
0.3
0.2
0.2
0.2
0.2
If
If
If
It
If
It
If
If
7/
Oct.
Nov.
25
29 p
4.9
1.6
1.4
0.2
It
r 5.3
1.9
1.7
0.2
7/
Dec.
27 p
5.0
1.6
1.4
0.2
7/
1/
2/
3/
4/
5/
6/
2/
11
7/
1.7
1.8
1.8
1.9
2.0
2.0
2.0
1.3
1.3
1.3
1.3
1.3
1.3
1.2
1.1
1.1
1.1
1.1
1.1
1.1
1.0
0.2
0.2
0.2
0.2
0.2
0.2
0.2
0.3
0.3
0.3
0.3
0.3
0.3
0.3
0.2
0.2
0.2
0.2
0.2
0.2
0.2
1.2
1.2
1.1
0.9
0.9
1.0
0.9
0.8
0.8
0.8
1.0
1.0
1.0
0.9
0.9
0.9
0.7
0.7
0.7
0.6
0.2
0.2
0.1
0.1
It
2.1
2.1
2.2
2.2
2.0
2.0
2.3
2.4
2.4
2.5
It
0.2
0.2
0.1
0.1
0.2
0.4
0.4
0.3
0.3
0.3
0.3
0.3
0.3
0.4
0.4
0.3
0.3
0.3
0.3
0.4
0.4
0.4
0.4
0.4
0.4
It
2.6
0.7
0.6
7/
2.6
0.7
0.6
0.1
0.1
0.4
0.4
0.4
0.4
If
11
It
It
If
It
It
It
It
-
It
It
It
It
Includes an indeterminate amount of Federal funds purchases from U.S. Agencies of foreign banks
Issued by a bank holding company or other bank affiliates.
Loans or participation in pools of loans sold under repurchase agreements.
To bank holding companies, affiliates, or subsidiaries.
To other than banks and bank-related affiliates or subsidiaries.
Partly estimated.
Less than $50 million.
T*LE 5
Loans at All Commercial Banks
Seasonally Adjusted
Date
Business
Real Estate
( In
1966—-Dec.
1967—-Dec.
1968—Dec.
1969—Dec.
31
31
31
31-Z
78.6
86.2
95.9
105.7
1970—Dec. 31
109.6
1971—June 30(old)
(new)
July 28
Aug. 25
Sept. 29
Oct. 27
Nov. 24
Dec. 31
112.1
1972—Jan. 26
Feb. 23
Mar. 29
Apr. 26
May 31
June 30
Oct. 25
Nov. 29 p
Dec. 27 p
1/
2/
2/
4/
H
6/
http://fraser.stlouisfed.org/
U7/
Federal Reserve Bank of St. Louis
116.2
116.6
116.0
115.5
116.4
117.3
118.4
119.9
121.2
(old) 121.1 ,
(new)
July 26
Aug. 30
Sept ,27 '
113.2
115.2
120.7-'
121.4
123,9
124.6
126.7
128.2
129.1
b i 1 1 i
53.8
58.4
64.9 2 /
70. 3- 7 (old)
69.8 (new)
72.3
J Consumer
n s o f
38.2
40.5
46.2
50.8
50.32'
|
Security
d o 1 1 a r s )
7.9
9.2
10.2
9.1
10.3
Nonbank
financial
12.0
11.3
^•^2/
13.1— (old)
13.6 (new)
14.3
56.3
9.5
15.9
76.7
77.6
78.6
79.5
80.5
B1.4
56.7
57.5
58.1
58.8
59.6
60.3
8.8
16.0
9.5
10.3
10.4
10.3
15.9
15.2
15.6
15.8
15.3
82.6
60.8
85.2
36.5
88,9
89.3
62.1
62.6
12.3
63.4
64.3
13,3
13.3
90.6
92.1
93.2
94.5
96.1
97.3
65.1
66.3
67.2
r 69.3
r
69.3
70.4
13.3
83.9
61.5
11.0
11.6
12.0
11.8
Agriculture
16.5
17.0
17.4
16.7
17.1
16.95/
17.2 5/
18.4
19.5
18.9
20.2
14.7
21.1
20.7
8.7
9.5
10.0
10.6
11.4
12.0
12.1
12.2
12.3
12.4
12.6
12 v8
12.9
12.9
13.0
13.1
13.2
13.3
13.4
13.5
13.5
13.8
14.1
14.3
p - Preliminary
"
r - Revised
—
Data are comparable with previous months. Individual loan items are gross throughout and the effect
of consolidation in June 1969 on any one loan item was nominal.
Real estate loans decreased by $500 million on December 31, 1969, and loans to nonbank financial
institutions increased by $500 million due to change in method of reporting mortgage loans held
under repurchase agreements.
Consumer credit data adjusted in July to exclude about $500 million of consumer paper sold by
finance companies to the banking system but classified as loans to nonbank financial institutions
on bank records. Subsequent repayments completed in February 1972 are also included in loans to
nonbank financial institutions.
Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700
million are included in other securities; previously, they had been included in real estate loans.
Beginning June 1972, business loans were reduced by $400 million, nonbank financial increased by
$300 million, and "other" loans increased by $100 million as the result of loan reclassification
at one large bank.
Includes $800 million system matched sale-purchase transactions outstanding on September 27.
Includes $300 million system matched sale-purchase transactions outstanding on November 29.
Table 6
Changes in Loans and Investments at A H Commercial Banks, Seasonally Adjusted
(In billions of dollars)
. , ,
Item
Jan.
?eb.
Marct?
Aoril
^une
May
Julv
Aue.
'
Sept.d
1
Oct. D
0
Dec.
1
Nov.
i Dec. b
Loans and Investments 2/
+2.6
+5.9
+5.7
+5.2
+8.4
+2.4
+8.7
+1.4
+4.4
+7.9
+5.5^
+5.1
5/•
+9.(F / : +4.8
U. S. Gov't, securities
-0,3
+1.9
-1.0
+1.3
+!.>
+0.3
| +0.5
+0.1
*0.9
-0.9
+0.6
-2.1
+0.7
Other securities
+1.1
+2.3
+1.5
+1.1
+1.8
1/
+2.2
-0.5
+0,6
+ 1.1
+1.0
1/
+1.8
+0.5
+3.0
+1.4
+1.7
+1.9
+5.1
+2.8
+5.3
+2.1
+6.0
+1.8
+4.7
+7.8
+3.8—''
+7.2
5/
+6.4-
Business
-0.6
-0.5
+0.9
+0.9
+1.1
+1.5
+1.3
-0.1^
+0.7
+2.5
+0.7
4^.1
+1.5
+0.9
Real estate
+1.0
+0.9
+1.2
+1.3
+1.3
+1.3
+1.5
+1.3
+1.3
+1,5
+1.1
+1.3
+1.6
-1.2
Consumer
+0.8
+0.7
+0.5
+0.7
+0.6
+0.5
+0.8
+0.9
+0.8 *
+1.2
+0.9
+1 . 1
Loans 2/
i/
+0.4
; +1.5-/
-0,8
+1.2
+1,1
-0.6
+1.3
+0.1
+0.1
1/
-0.1- /
+0.7
+1.0
+4.5
+1.7
+4,8
+4.1
+1.9
+3,6
Security
-0.1
+0.7
+0.6
+0.4
+0.3
-0.5
+1.5
Nonbank financial
+0.2
-0.5
+1.2
+0.5
+0.4
-0.7
+0.4
-0.2—''
Agriculture
+0.2
+0.2
+0.1
1/
+0.1
+0.1
+0.1
+0.1
All other
+0.2
+0.4
+0.6
-0.8
+1.5
-0.1
| +0.4
j
Total loans excluding
security .3/
+1.8
+1.2
+4.5
+2.4
+5.0
+2.6
Total loans excluding
security and nonbank financial _3/
+1.6
| +1.7
+3.3
+1.9
+4.6
+3.3
1/
4/
5/
j
1/
Less than $50 million.
Includes $800 million system matched sale-purchase transactions outstanding on September 27.
Includes $300 million system matched sale-purchase transactions outstanding on November 2 9 .
+0.8^
-0.5
-0.4
+0.3
+0.3
+0.2
i +0.2
r +1.9
|r +0.1
+0.5
•*7.4
- +2.3
+8.0
+6.3
+2.9
,
-
f
|
+1.1
/
+0.9
1
1
r +1.0
+3.5
+4.3
j
+3.9
Table 6A
Changes in Loans and Investments at All Commercial Banks. Seasonally Adjusted
Adjusted for Loans Sold to Affiliates
<
• • Item
i ''
'Nov.
Dec.
Feb.
March
| 1 April
.
May
J tine
+8,5
+1.2
i
Loans and Investments 2/
"
+2.5
U. S. Gov't, securities
-0.3
+1.9
-1.0
+1.3
+1.3
+0.3
+0.5
+04
Other securities
+1.1
•*•2 .3
+1.5
+1.1
^1.8
1/
+2.2
-0.5
Loans 2/
+1.6
-*-1.8
+5.3
+2.8
^5.1
+1.9
' +5.9
-0.7
+1.0
+0.9
+1.2
+1.3
+1.1
Business
| -0.6
Real estate
ji
Consumer
1
'
Jan.
+6.0
+5.8
+5.1
+8.3
+2.3
1
Julv
:
+4.4
1
'
|
1 Aue. •" I
+8.0
+5.1
+9.32/
44.9
0 9
+0.6
"2.1
+0.7
+1.4
+1,1
+1.0
1/
+1.8
-° 9
+1.6
+4.7
*+7.9
1/
+0.7
+2.5
c
+3.7^
+7.1
*6.7—/
+0.6
+2.2
+1.7
|!
.
:
i
:
i
i1
i
1•
I1
!
!
|
'
|
!
j1
i
.
|
T
V - VjUiiCttCU .
Adjusted to exclude domestic interbank loans.
•hu,^™s*
i
Includes $300 million system matched sale-purchase transactions outstanding on November 29.
. i
"ere reduced t-y M O O million, nonbank financial iacraaeed by $300 million, end "oeher n loans Increased by
4, r,r. ,1 ,"-o" ti t ,ii„",-, 1 . t c L f
5/
i
]
!
|
!
Total loans excluding
security 3[/
~
+0.9
=-
All other
U
+3.1
NOT AVAIIAB1
Agriculture
Total loans excluding
security and nonbank financial 3/
I +0.5
i
11
i
|i
Securitv
Nonbank financial
Dec
>5.4'
;
+0.6
I
l r ikfe: fi
ti
"
"
t e
"
F
~ " • *
e h
"
n
TABLE 7
Changes in Loans and Investments at All Commercial Banks, at Weekly
Reporting Banks, and at Other Banks, Not Seasonally Adjusted
Adjusted for Loans Sold
(In billions of d o l l a r s ^
Last Wednesday of November to end of December
Item
1972p
1971
1970
1969
1968
1967
All commercial banks
Total loans
U. S. Gov't, securities
Other securities
Total
1966
+13.8
+3.4
+1.4
+18.7
+11.0
+3.9
+3.1
+18.0
+9.7
+3.5
+3.6
+16.7
+9.2
-0.4
+0.5
+9.3
+8.6
+1.7
+2 ,0
+12,3
+9.0
-0.4
+6 .3
+1.8
+1.7
+10.'4
+0.9
+8.9
Total loans
U. S. Gov't, securities
Other securities
Total
+11.2
+1.9
+0.7
+13.7
+8.5
+2,2
+1.6
+12.3
+7.0
+2.2
+11.4
+6.4
1/
1/
+6 .4
+ 7 .6
+1.1
+0.6
+9.3
46.3
+0.3
+0.$
+ ) .1
+4.4
-LI.7
-0.1
+6 .0
Other banks
Total loans
U. S. Gov't, securities
Other securities
Total
+2.6
+1.5
+0.8
44,9
+2.5
+1.7
+1.5
+5.7
+2.7
+1.2
+1.4
+5.3
+2 r 7
-0.3
+0.4
+2,9
+1 .Q
+0.6
+1.4
+3.d
+2.8
-0.8
+1.2
+3.3
+1,9
+0.1
+1.0
+2.9
All Larpe Banks
+?•?
Year en^ed December
Item
All commercial banks
Total loans
U. S. Gov't, securities
Other securities
Total
imp
1971
+57.4
+1.7
+11.2
+30.0
+3.2
+17.9
+70T
+5T7T
+33.5
+12.9
+0.9
+7.7
+21.5
All Lar^e Banks
Total loans
U. S. Gov't, securities
Other securities
Total
+3.7
+37.3
Other banks
Total loans
U. S. Gov't, securities
Other securities
Total
+23.9
+1.5
+7.5
+32.9
+0,2
+17.1
+2.3
1969
196%
4*$L
m
+11.9
+7.0
+25.6
-9.8
+26.9
+17.6
+6.3
+17.7-^/
S t f
_ J 4
psui
4-38.9
S
a
fl6.7
+0.5
+3.6
+17.2
+ 1 4 ,4
-5.6
-2.9
+5 .9
+5.3
+22.5
+7.3
+19,5
+7.8
+11.1
+2.5
+10.2
+1.5
+4.8
+16.4
+8.9
+2.7
+5.4
+17.0
JSJA
+4.1
+4 .5
+8.6
+15.8'
+10.2
+6.2
-4.2
+2.9
+29.6
+16.5
"+578
+2.0
i
+8.7
a
+8.3— Z — Z
+10.2-
NOTE:
1/
2/
3/
4/
Data exclude domestic interbank loans; Call report data for large b#pks used when
available. Loans adjusted to include all loans sold to bank holding companies,
affiliates, subsidiaries, or foreign branches.
Less than $50 m i l l i o n .
Based on revised reporting beginning July 1969.
maintain comparability of series.
Changes have been adjusted to
Based on revised coverage beginning July 1966, and January
1971, and 1972.
i-967, 1968, 1969, 1970,
9
Allowance has been made in monthly changes in total loans and in other securities
approximately $700 million of Farmers Home Adn^f n i at-rar{r»n {nenroH nnt-ao
<f
from loans to other securities on June 30, 1971; $200 million were at weekly
reporting banks and $500 million at other banks.
5/
Allowance has been made in monthly changes in total lpans and in other securities
for approximately $1 billion of participation certificates shifted from loans to
other securities at the end of June; $700 million were at w e e k l y reporting and $300
million at nonweekly reporting. Allowance has been made in monthly changes in
total credit and in total loans for the $1.1 billion of balances accumulated for
the payment of personal loans excluded from time deposits and from loans on June 9;
$400 million were at weekly reporting banks and $700 million at other banks.
Table 8
Changes in Commercial and Industrial Loans at Large Commercial Banks
(In millions of dollars)
Late November to late"December 1/
Business of borrower
1972 p
F o o d processors
C o m m o d i t y dealers
T r a d e concerns
Retail trade
Wholesale trade
Metals
Primary metals
Machinery
Transportation equipment
Other fabricated metals
T e x t i l e s , apparel, etc.
Pettoleum
Chemicals
Other durable manufacturing
Other nondurable manufacturing
Mining
Public Utilities, total
Transportation 3/
Communication 3/
Other public utilities
Construction
A l l other types of business
Bankers acceptances
Services 3/
Other
F o r e i g n business concerns
3/
Classified
Unclassified
Total Change
1J
2/
3/
+262
+172
-271
+63
-334
+287
-13
+320
-56
+36
-94
+47
+88
+61
46
-8
+556
+168
+121
+267
+63
+652
+181
+240
+231
+163
+1,984
+425
+2,409
1971
1970
+66
+179
-206
+120
-326
+50
-1
+30
+23
-2
-101
+77
, -3
-75
+22
+46
-82
-60
-89
+67
+6
4685
+299
+198
+188
+199
+863
4249
+1,112
+466
+151
-330
+1
-331
-9
+12
+46
+33
-100
-156
+13
+32
-33
+50
-42
+12
+47
+58
-93
+35
+860
+554
+154
+152
460
+1,109
+220
+1,329
1
Late December
to late December
-
1969
1968
+322
450
-16
-156
4140
+761
+95
+456
+183
+27
-105
+63
+141
+129
+73
+52
+560
+152
4202
+206
+7
+512
+236
+55
+221
+39
+2,588
-116
+2,472
+275
-12
+1
+25
-24
+105
-129
+190
+29
+15
-60
448
4227
+19
-2
+263
4417
+167
+91
+159
-26
4399
-29
490
4338
45
+1,659
-904
+755
1972 p
1971
+547
-200
+116
4302
41.111
4704
+900
+7
+211
+697
-298 -1,718
+10
-158
+225
-1,080
-583
-251
+50
-229
+401
-31
-199
-293
-394
-535
+396
-77
-126
-149
-183
-225
+1,355
-6
-362
-55
+543 -17
4867
+373
+808
+367
4477 +1,915
-769
+606
41,258
+416
-12
+893
4702
+820
+4,713
+874
+2,477 +1.057
4 7 , 1 9 0 +1,931
1970
-149
4189
-3
-135
+132
-234
461
-497
4297
-95
-19
-192
-65
+39
-86
-834
-1,184
+264
-231
-1,217
4269
41,342
4983
4378
-19
4171
-756
4871
4115
1969
+276
+219
+206
+279
+342
+824
4144
4510
4198
4314
42,708 41,096
4194 4515
+1,317
+319
+712
+108
4153
+154
+150
+438
4115
+49
+362
+142
4332
4187
+314
+42
4126
+527
4 1 , 6 1 0 +1,408
4556
4773
4360
4180
4694
+455
4224
+425
42,220 +1,605
. 41,044
-475
420
+980
41,196 + 1 , 1 0 0
-356
-146
47_,955 46,537
4374
4678
+8,329 47,215
Four most comparable weeks used throughout.
Changes are compiled from December 29, 1971; December 30, 1970; December 31, 1969; December 25, 1968-; and
December 27, 1967. These data cannot be linked w i t h all commercial bank data which are always for December 31.
Prior to 1967, transportation, communication, services, and foreign loans were not reported separately.
1968
TABLE 10
Ratios to Total Deposits 1/
L O A N S
D A T E
All
commercial
banks
M e m b e r
B a n k : s
Reserve City Banks
New York City of
City
.Total
Chicago Other Country
34.0
55.6
55.1
56.5
54.5
1 9 6 1 — D e c . 31
55.7
56.5
57.7
1 9 6 2 — D e c . 28
1 9 6 3 — D e c , 25
58.6
59.9
61.9
60.5
1 9 6 4 — D e c • 31
1 9 6 5 — D e c . 31
63.7
65.4
65.8
67.9
1 9 6 6 — Dec, 31
1 9 6 7 — D e c . 30
63.8
65.8
1 9 6 8 — D e c , 31*. / 64,7 (63,7) 66,8
1 9 6 9 — D e c . 31*72,0 (69.8) 75.7
67.3 (66.2) 69.9
1 9 7 0 — D e c , 31*
1959—Dec
31
1960—Dec. 31
1971—Jan,
Feb.
Mar,
Apr.
May
Jwe
July
.
Aug.
27*
24*
31*
28*
26*
30*
28*
25*
sept,29*
Oct.
Nov.
(new) Nov,
Dec.
27*
24* 3 /
24* 31*
1 9 7 2 — J a n . 26*
Feb. 23*
Mar. 29*
A p r . 26*
May 31*
June 30 *
July 26*
Aug, 30*
Sept,27* p
Oct. 25* p
Nov. 29* p
Dec. 27* p
67.3
65 .9
65,0
67.9
67.4
69.3
75.9
83.5
79.9
83.5(76 .3)
102.8(86.4)
87.5(79.6)
U.S. Government
securities maturing
within one year
All Commercial
Banks
58.2
60.8
58.0
61.4
62.1
64.4
70.2
77.0
70.8
75.1
89.5
80.6
58,2
59.0
57.7
60.1
63.3
65.0
68.7
70,2
68.1
69.1
79.5
73.3
48,2
50.3
50.2
51.7
53.8
56.0
57.9
59.2
58.2
58.2
62.8
60.2
7.4
8.7
11.2
9.5
7.5
8.0
7.3
6.1
6.4
6.1
5.0
5.7
67,2
67.3
66.1
66.4
66.7
66.1
66.8
66.8
67.2
66.8
67,1
67.6
65,7
(66.2)
(66.4)
(65.6)
(66,1)
(66.5)
(65.9)
(66.5)
(66.6)
(66.8)
(66.4)
(66.6)
(67.1)
(65.6)
69.5
69.6
68.2
68.5
68.8
68.4
68.8
68.9
69.5
69.1
69.3
70.0
68.0
86.6(79.9)
88.0(82.3)
84.8(81.9)
84,7(82,5)
85.0(83.4)
84.0(82.3)
84.6(82.9)
85.4(84.3)
87.8(85.0)
87.1(83.5)
86 , 7(83.6)
89,0(85.8)
84.1 (83.2 )
80.9
81.3
81.4
76.9
77.5
78.7
79.3
80.5
79.4
80.1
80.7
82.9
78.1
72.5
72.3
70.5
71.5
71.8
71.4
72.2
72.2
72.4
72.2
72.7
73.5
71.6
60.6
60.6
59.8
60.2
60.4
59.9
60.3
60.1
60.5
60.2
60,4
60.4
59.2
5.5
4.9
4.7
4.3
4.1
3.9
3.8
3.4
3.6
3.5
3.1
3.1
3.9
66.5
66.5
66.7
>7,0
57.3
58.1
68.4
68,7
68,8
(66.3)
(66.3)
(66.4)
(66-8)
(67,1)
(67.9)
(68.2)
(68.6)
(68.5)
68.7
68.8
69.0
69.2
69.5
70.5
70.5
71.0
71,2
85.6(84.0)
85.5(84.4)
85.1(83.4)
84.1(82.7)
84.7(83.2)
84,9(83.6)
84.7(83.2)
85.6(84.3)
84.3(82.2)
79.9
81.7
82.5
81.9
83.7
. 84.7
85.6
85.5
83.6
71.9
72.3
72.8
73.4
73.2
75.0
75.0
75.8
76.8
60.0
60.3
60.3
60.2
60.5
61.0
61.1
61.3
61.4
3.6
3.9
4.0
3.6
3.7
5.5
3.3
3
68.8 (68.7) 71.4
69.1 (68.9) 71.5
68.8 (68.6) 71.5
85.6(84.3)
86.1(84.6)
86.6(87.5)
85.7
85.8
86.6
76.9
76.5
76.9
61.2
61.6
60.7
3.2
3.5
n.a.
3.3
* " Ratios in parenthesis are those obtained by adding Euro-dollars to the deposit base.
1/ Total loans (adjusted to exclude loans to banks); U.S. Government securities m a t t i n g
within one year estimated on basis of Treasury survey of ownership; and total deposits
(adjusted to exclude cash items in process of collection).
2/ 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,
3/
Loan
data revised to exclude only loans to domestic commercial banks. Previous
"*
data had also excluded loans to foreign commercial banks.
®
TAB^ll
®
Money Stock Measures and Deposit Turnover
(Seasonally adjusted; dollar amounts in billions)
*3
M^ plus
M 2 plus
Currency
time dep.
deposits
Components of money stock measures and related items
Turnover
plus
at comm.
at nonTime and
RonU.S. Gov't.
outside
demand
other than^ / bank thrift „ ,
Demand
savings deposits bank thrift
deposits
N.Y. City
1/
depositslarge CD's— institutions— Currency Deposits CD's Other Total institutions (all member> (per cent)
1968--December
1969—December
1970—December
197.4
203.7
214.8
378.0
386.8
418.2
572 .6
588.3
634.0
43.4
46.0
49.0
154.0
157.7
165.8
23.6
11.0
25.5
180.6
183.2
203.4
204.2
194.1
228.9
194.6
201.5
215.8
4.2
4.9
6.5
45.3
50.0
52.9
1971--July
August
September
October
November
December
227.4
228.0
227.6
227.7
227.7
228.2
453.4
454.5
455.6
458.3
460.8
464.7
693.8
697.6
701.2
706.5
711.6
718.1
51,6
51.7
51.9
52.2
52.2
52.5
175 . 8
176 .3
175.7
175.5
175.5
175.7
30.4
30.8
31.6
32.7
32.2
33.4
225 .9
226.5
228.0
230.6
233.1
236.4
256.4
257.3
259.6
263.3
265.3
269.9
240.2
243.1
245.6
248.3
250.8
253.4
5.1
5.8
6.6
4.7
5.4
6.2
55.0
55.9
55.6
54.3
58.1
57.3
1972--January
February
March
April
May
June
228.8
231.2
233.5
235.0
235.5
236.6
469.9
475.5
480.1
483.0
486.1
490.4
727.3
737 .4
745 .9
752.7
758.8
766.1
52.8
53.2
53.7
54.0
54.4
54.7
176.0
178.0
179.9
180.9
181.1
181.9
33.2
33.8
33.4
34.7
36.3
37.1
241.2
244.3
246.5
248.1
250.7
253.8
274.4
278.1
279.9
282.8
287.0
290.9
257 .4
261.8
265.8
269.7
272.6
275.7
6.3
3.7
6.1
7.4
7.4
5.3
56.3
56.2
57.2
58.9
58.7
58.6
239.4
240.5
241.6
242.3
243.6
246.8
495.0
498.3
501.8
505.0
508.2
514.4
774 .7
781.6
788.4
795.2
801.2
810.1
54.9
55.0
55.5
55.9
56.3
56.8
184.5
185.5
186.1
186.5
187.3
190.0
38.1
39.3
40.3
40.7
41.3
43.7
255.6
257.7
260.2
262.7
264.6
267.5
293.7
297.1
300.5
303.4
305.9
311.2
279.7
283.3
286.6
290.1
293.1
295.8
5.3
4 .6
5.3
6.1
7.8
6.5
57.1
60.2
60.1
59.2
62.2
n.a.
246.1
245.6
246.0
248.5
512 .2
512.0
513.6
517.2
n .a.
n .a.
n.a.
n .a.
56.4
56.9
57.0
57.0
189.7
42.4
43.5
44.3
44.7
266.1
308.5
188.8
189.0
191.5
266.4
267.6
268.7
309.8
n .a.
n.a.
n .a.
n .a.
7.8
7.5
4.9
4.4
n.a.
n.a.
n.a.
n.a.
July
August
September
October
November
December p
Week ending:
1972—December 6
13
20
27 p
311.9
313.4
1/ Includes (1) demand deposits at all conraercial banks otter than those due to domestic commercial banks and the U.S. Governmentt
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 more by large weekly reporting commercial banks.
3/ Includes VL , plus the average of the beginning and end of month deposits of mutual savings banks and savings and loan shares.
,
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•
T A B # 13
•
•
Member Bank Reserves
(Based on averages of daily figures; in millions of dollars)
Free reserves
(e wcess reserves minus borrowings)
D A T E
All
member
Reserve City Banks
New Tork
City of
City
Chicago
Excess
Reserves
Other
Apr.
May
June
July
Aug.
Sept.
Oct. r
Nov, p
Dec. p
All
member
Total reserves
held seasonally
adjusted
All
member
;•
1959—December
I960—December
1961—December
1962 - -December
1963--December
1964—December
1965—December
1966--December
1967—December
1968—December
1969—December
197 0—December
1972--Jan.
Feb.
Mar.
All
member
Country
Monthly Averages:
1971—Jan.
Feb.
Mar .
Apr.
May
June
July
Aug.
Sept.
Oc t.
Nov.
Dec.
Borrowings
'
-424
669
419
268
209
168
-2
-165
107
-310
-829
-49
-109
10
-50
-62
19
-14
-70
-95
-22
-130
-203
9
-104
-4
-22
-11
21
-31
-8
-50
-91
19
15
-90
-21
-67
-127
-110
-111
-29
-56
-71
-10
-6
19
-25
3
2
-39
-29
-120
-8
-18
-322
-658
-60&
-295
-153
144
5&
153
91
134
27
-15
110
-55^
-183
-369
-327
-188
-850
8
-5
-14
-50
-36
28
IT
-110
-113
2
-7a
-332
-449
80
20
-52
-122
-103
-161
-159
55
-180
-473
-222
-5
-70
-9
3
- - .
237
583
471
394
334
F
315
23a
140
187
70
-144
161
-282
-333
-155
-154
178
172
150
-45
-173
-44*
92
17
-92
-58
24
45
164
-437
-10
2
-14
-7
-28€k
-144
-112
-57
-9
-5
-13
1
•3
-1
2
13
130
17
-6
•55
-1
-33
. -105
-62
-15
-23
-18
-42
-216
-241
-459
-189
53
132
L
141
9
144
82
79
116
31
-10
-52
-90
-301
-445
482
756
572
536
411
452
392
345
455
257
272
906
87
149
304
327
243
454
557
238
765
1,086
321
18,513
18,842
19,640
19,555
20,156
21,149
22,245
23,348
24,771
27,249
27,977
29,132
279
201
199
140
312
131
162
198
206
207
263
165
370
328
319
148
330
453
820
804
501
360
406
107
29,390
29,600
29,779
29,991
30,327
30,527
173
124
233
136
104
204
147
255
146
247
418
200
20
33
99
109
119
94
202
31,772
31,616
32,032
32,643
32,830
33,059
33,138
438
515
-574
606
1,050
33,382
33,360
33,788
31,839
31,354
56a
L
30,63r
30,743
31,073
30,882
30,970
31,246
requirements on Euro-dollar borrowings are included beginning October 16, 1969, and requirements on bank-related commercial paper
are included beginning October 1, 1970.
TABLE 14-A
Liquid Asset Holdings of Private Domestic Nonfinancial Investors*
(Seasonally adjusted monthly averages; amounts in billions of"dollars, ratios in per cent)
Currency and deposits
Period
1965--Dec.
1966—Dec.
196?—Dec.
1968--Dec.
1969- -Dec.
1970-Dec.
1971--Dec.
Time Deposits
Other liquid assets
U.S. shortterm
Negotiable CommerciaI
marketable
m's
paper
Treasury
securities
8
10
Total
liquid
assets
Total
Currency
557.7
588.2
637.5
694.6
719.7
770.6
850.5
447 .4
469.6
516 .0
559.6
576.2
623.6
709.8
36.3
38.3
40.4
43.4
46.0
49.0
52.5
115.5
117.3
125.2
135.2
138.1
144.7
153.4
125.2
136.8
156.2
174.2
177.0
198.8
232 .2
170.4
177.3
194.2
206.8
215.2
231.1
271.7
121.5
135.0
143.5
147.1
140.7
15.5
15.0
19.5
22.7
9.1
23.2
30.2
50.0
51.1
51.9
52.5
147.8
152.8
153.5
153.4
213.0
220.7
224.0
232.2
242 .9
254.1
263.1
271.7
139.2
138.2
138.9
140.7
Demand
deposits
Commercial
banks
Thrift
institutions
Total
110.3
118.6
19.5
17.7
49.5
50.1
51.0
51.4
51.1
51.3
26.2
26.7
28.1
30.2
17.2
16.4
16.1
17.7
43.9
42.7
41.7
39.2
51.8
52.5
53.1
53.7
17.7
36.0
37.6
38.2
54.5
55.4
56.1
17.7
42.7
43.0
41.7
41.0
40.6
39.2
52.7
52.9
53.1
53.3
53.5
53.7
18.1
17.7
17.7
36.6
35.9
36.0
W.l
M
38.5
.38.2
32.7
37.5
38.4
40.3
42.6
53.9
54.2
54.5
54.8
55.1
55.3
831.6
850.5
653.6
678.6
692.6
709.8
1972--March
June
Sept.
876.6
903.0
931.3
738.3
758.0
780.3
53.7
54.7
55.5
157.4
158.5
162.5
242.3
249.2
255.4
284.9
295 .6
306.9
138.4
145.0
151.1
30.2
34.0
37.2
1971--July
Aug.
Sept.
Oct.
Nov.
Dec.
823.3
827.6
831.6
838.3
842.8
850.2
684.8
688.7
692.6
698.1
703.0
709.8
51.6
51.7
51.9
221.7
222.4
224.0
226.5
228.9
232.2
257.5
260.5
263.1
266 .1
268 .9
271.7
138.6
138.9
138.9
140.2
139.8
140.7
27.3
27.5
52.2
52.5
153.9
154.1
153 . 5
153.3
153 .0
153.4
894.2
904.0
719.7
729.6
738.3
745.2
751.0
758.0
52 .8
53.2
53.7
54.0
54.4
54.7
153.8
155.6
157.4
158.4
158.2
158.5
237.2
240.2
242.3
243.7
246.2
249.2
275.8
280.5
284.9
289.1
292.2
295.6
138.6
138.3
138.4
140.8
143.2
146.0
913.9
921.5
929.7
938.1
947.3
961.4
766.6
773.4
780.4
787.4
794.0
803.3
54.9
55.0
55.5
160.8
161.7
162.2
162.6
163.8
166.9
251.0
253.0
255-4
257.8
259.6
262.3
299.8
303.6
307.3
311.1
314.3
317.3
147.3
146.2
149.3
150.7
153.2
158.1
1972--Jan.
Feb.
Mar .
Apr.
May
June
July
Aug.
Sept.
Oct. r
Nov. r
Dec . p
792 .8
858.2
867.8
876.6
886 ,0
52 .2
553
56.3
56.8
For description of items,and computation of ratibs see Table 14-C.
II
38.2
43.3
39.5
46.8
62.5
53.0
39.2
1971—March
June
Sept.
Dec.
816.8
7.1
10.2
11.5
14.2
Savings
bonds
28.1
29.2
28.9
30.2
29.9
30.5
30.2
31.6
33.2
34.0
35.0
36.3
37.1
37.3
37 .6
39.9
20.8
18.1
19.5
15.8
15.6
16.1
16.7
16.8
18.1
18.5
18.4
18.5
18.6
18.6
18.6
53.7
55.6
55.9
56.1
56.4
56 J
56.£
'ABIE 14-B
Period
Currency
and demand
deposits to
liquid assets
12
Bank
liability
to liquid
assets
13
Ratios
Time deposits
at thrift
institutions to
liquid assets
14
Liquid
assets
to GNP
15
Currency
and demand
deposits
to GNP
16
1965—Dec.
1966--Dec.
1967 — D e c .
1968--Dec.
1969--Dec.
1970--Dec.
1971--Dec.
1972—Dec.
27.2
26.4
26.0
25.7
25.6
25.1
24.2
23.3
45.9
45.7
47.2
47.8
45.0
47 .6
48.9
48.8
30.6
30.1
30.5
29.8
29.9
30.0
32.0
31.0
78.3
76.8
77.2
77.1
76.5
76.5
77.9
21.6
20.7
2 0.3
19.9
19.7
19.5
19.3
1971--March
June
Sept.
Dec.
1972—March
June
Sept.
Dec.
25.0
25.0
24.7
24.2
24.1
23.6
23.4
23.3
48.8
49.0
48.8
48.9
49.0
48.9
48.9
48.8
30.6
31.1
31.6
32.0
32.5
32.7
33.0
33.0
76.8
77.7
78.6
78.6
78.2
78.6
79.3
19.2
19.4
19.5
19.2
1971—May
June
25.0
25.0
48.9
49.0
31.0
31.1
n .a.
n.a.
n .a.
n .a.
25.0
24.9
24.7
24.5
24.4
24.2
48.9
48.8
48.8
48.8
48.7
48.9
31.3
31.5
31.6
31.8
31.9
32.0
n .a.
n .a.
n .a .
n .a.
n .a.
n .a.
n .a.
n.a.
n .a.
n .a.
n .a.
n.a.
24.1
24.1
24.1
24.0
23.8
49.1
49.1
49.0
49.0
48.9
32.1
32.3
32.5
32.6
32.7
n.a.
n .a.
n .a.
n.a.
n .a.
n.a.
n .a.
n .a.
n .a.
n„a.
23.6
48.9
48.9
48.9
48.9
48.8
48.7
48.8
32 .7
32.8
33,0
33.0
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.
July
Aug.
Sept.
Oct.
Nov.
Dec.
1972--Jan.
Feb.
March
April
May
June
July
Aue.
Sept.
Oct.
Nov.
Dec. p
23.6
23.5
23.4
23.3
23.2
23.3
33 JZ
33 .2
33.0
n.a.
18.8
18.7
18.6
TABLE 14-C
Liquid Asset Holdings
Sum of columns 2 and 7.
Sum of columns 3, 4, 5, and 6.
Money stock components after deducting foreign holdings
and holdings by domestic financial institutions. The
three columns add to
held by domestic nonfinaneial
sectors.
Deposits at nonbank thrift institutions, as published
in money stock statistics, plus monthly-average deposits
at credit unions.
Sum of columns 8, 9, 10, and 11.
Negotiable certificates of deposits over $100,000 at
weekly reporting banks, except foreign holdings.
Commercial paper held outside banks and other financial
institutions.
Short-term marketable U.S. Government securities excluding official, foreign, and financial institution holdings.
All issues due in one year or less, including bonds and
notes, plus a sliding proportion of issues due in 13 to
24 months.
Series E and H savings bonds held by individuals.
Sum of columns 3 and 4 to column 1.
Sum of columns 4, 5, and 8 to column 1.
Column 6 to column 1.
Column 1 to GNP. Annual averages are based on 12-month
averages of column 1 and annual GNP. Quarterly averages
are based on 3-month averages of column 1 and quarterly
GNP.
Sum of columns 3 and 4 to GNP. Annual averages are based
on 12-month average of columns 3 and 4 and annual GNP.
Quarterly averages are based on 3-month average of columns
3 and 4 and quarterly GNP.
@FedFRASER