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L.4,3 Not for publication January 18, 1966, MONETARY DEVELOPMENTS IN DECEMBER 1965 R e s e a t Lie' Seasonally adjusted ba^.credit, exhibiting continued, strength, increased almost as 'much in D§cemt>er as . in thfe two'• previous months,, %here wa ® a further substantial rj.se in total loans, due= largely to heavy borrowing by businesses around the tax and djyidend. period. Holdings of municipal and Federal agency issues rose somewhat, following little change in November. Meanwhile, holdings of U. S» Government securities remained unchanged. The seasonally adjusted money supply rose sharply in December. Time deposits at commercial banks rose at a slower r^te than in previous months. Seasonally adjusted total and required reserves increased substantially., Excess reserves increased to about the level of;,borrowed reserves, which remained unchanged. : Changes in Commercial Bank Credit. Money Supply and Time Deposits • (Seasonally adjusted) Annual rat? (peir cent) 1965 Dec. 4th Otr. •• Total loans and investments, : 10.3 .10,9 U.S. Gov't, securities • V 3rd. phr 4.8 1964 2nd. Otr. 10.6 1st. Otr. Year =4th Year Otr. • 12.4 10.0 8.4 8.4 -12.8 -11-7 -6/2 1.3 -1.1 7.8 -8^3 Other securities 13.6 10,1 13.3 20.0 14.5 15.2 12.8 10.6 Total loans 16.4 20.8 14.8 10.1 11.8 Business loans 12 ;0 7.0 H-6 24.7 15,5 11.7 19.4 26.1 19.4 15.0 11.9 Money supply 12.3 7.5 6.2 3.7 1.5 3.8 4.3 .Time deposits at all commercial batiks 11.5 15.0 16.8 11.5 17.4 16.0 14.7 12.8 -- %.8 Bank Credit. Seasonally adjusted loans, and investments-at all fcfentaeircial banks increased $/- .5 billion in December % slightly less than in October and November, (Ciredit items have been estimated for December 31, the'date to which the seasonal factors apply* rather, than for the last Wednesday, December 29.) Despite strong bank loan .demand and restricted Availability of funds, holdings of U. S*,Government, securities remained largely unchanged after allowance for seasonal factors. This followed increases in the two previous months associated with Treasury financing operations. Holdings of municipals and other securities increased at a slightly faster rate than in any other recent month. Over the y<?ar 1965, bank credit rose 10 per ;cent, a record for the postwar period.; Tbg 14.8 per cent rise in total lo^ns, while greater . • than in 1964, tell considerably short of the record postwar increases of 22 per cfent in 1947; and 1950, Holdings of U. S . . G o v e r n m e n t securities declined at .a faster rate in 1965 than in 1964* but acquisitions of municipals and pthet securities accelerated somewhat, following a slowdown thd previous year. Total investments rose less than in atiy other recent year. Business loans at all commercial banks arose by $1.4 billion in December, over twice the moderate growth rate of the two previous months. Borrowing rose sharply in the week of .the 16th, reflecting corporate needs for funds associated w i t h . t a x and,, dividend payments and continued heavy the following week. Over the year 1965, business loans rose 19.4 per cent-~substantially more than the 11.9 per cent increase in the preceeding year u about comparable with the large increases in 1955 and 1956. T At member banks in leading, cities December borrowing by metals manufacturers, public utilities, and food processors was greater than in comparable weeks of most other recent years. Borrowing by the services group was smaller than usual, while loan repayments by textiles manufacturers were relatively large. Seasonally adjusted real' estate loans and consumer loans rose further in December at rates similar- to those of most other irecent months. Over the year, the growth rate in consumer loans was substantially larger than, in 1964, while that in real estate loans was only slightly larger. 1 «Seasonally adjusted, security loans and loans to nonbank financial institutions declined slightly in*December. Over the y e a r , however, growth in loads to noribank financial institutions was close to the 20 per cent rate of 1963, after having slowed to about 7 per cent in 1964, Most of this expansion Occurred .'early in the year. On the other hand,, security loans were little changed in 1965. ! Money supply and time deposits. The seasonally adjusted money supply rose $1.7 billion in December, comparable to the large increases of June and September.- Major factors contributing to this increase were the December surge in business borrowing and large CD runoff* While there was little change in the money supply in November, the 7.5 per cent annual rate of inqreage in the fourth quarter still exceeded slightly the high third quarter rate and was substantially above the moderate expansion of the first half. Oyer the year, the 4.8 per cent increase in the money supply was only slightly higher than in 1964. Seasonally adjusted time and savings deposits at all commercial banks rose a substantial $1.4 billion in December, though less than in previous months, The major factor in the slowdown appears to have been the large runoffs of CD's during the tax period. Time and savings deposits increased $20.3 billion over the year, or 16 per cent, compared with 12.8 per cent in 1964. Bank reserves. Seasonally adjusted total and required reserves increased substantially in December, the first significant net change since June. Member bank borrowing remained almost unchanged from the November average of $452 million. At the same time, excess reserves rose nearly $100 million, resulting in a decline in net borrowed reserves from $84 million in November to $4 million in December. Reserves were supplied principally through System purchases of U. S. Government securities, an increase in float, and a decline in Treasury deposits at the Reserve Banks. Reserves were absorbed mainly by an outflow of currency. Increase in discount rate and rates paid on time and savings deposits. Effective December 6, the Board of Governors approved actions by the Reserve Banks of New York and Chicago increasing the discount rate from 4 to 4-1/2 per cent. By December 13, the rate increase had been approved at all Reserve Banks. Simultaneously, the Board increased the maximum rates on time deposits and certificates of deposits having a maturity of 30 days or more to 5-1/2 per cent, also effective December 6. Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. 1.4.3 IHt 1**0' Ittl - EXHIBIT A, P a r t I 1**1 INI ' ;i#*4 Mt» Exhibit A - Part II Date Total 1/ (In 1960—Dec. 1961—Dec. 1962—Dec. 1963—Dec. 31 31 31 2/ 31 2/ Loans 1/ b iL 1 1 i o n s U.S. Gov't, Other securities securities of d o 1 1 a r s) 194.5 209.8 228.3 246.5 113.8 120.5 133.9 149.4 59.9 65.4 65.2 62.1 20.8 23.9 29.2 35.0 261.7 261.1 265.5 267.2 163.0 163.2 165.4 167.1 61.2 60.0 61.6 61.4 37.5 37.9 38.5 38.7 1965—Jan. 27 269.6 170.2 Feb. 24 272.1 171.9 Mar. 31 275.5 175.8 Apr. 28 277.3 177.1 May. 26 279.4 179.5 June 30 282.8 183.0 July 28 281.5 182.7 Aug. 25 286.1 185.8 Sept.29 286.2 186.2 Oct. 27 p 288.9 188.0 Nov. 24 p 291.5 189.8 Dec. 31 p 2y 294.0 191.8 \! Adjusted to exclude interbank loans. 2/ Estimated as of December 31. p - Preliminary. 59.9 60.2 59.6 59.1 58.6 57.7 56.4 57.0 56.5 57.0 57.6 57.6 39.5 40.0 40.1 41.1 41.3 42.1 42.4 43.3 43.5 43.9 44.1 44.6 1964—Sept.30 Oct. 28 Nov. 25 Dec. 31 1.4.3. - EXHIBIT >, fart I I I I I I I I I I I I I I I I I I I LU Exhibit B - Part II Business Date X 1960—Dec. 1961—Dec. 1962—Dec. 1963—Dec. 31 31 31 1/ 31 1/ 1964—Sept. 30 Oct. 28 Nov. 25 Dec. 31 (In b iL 1 1 i o n Consumer <) f Security d o 1 1 a r s) 42.1 43.9 47.6 52.0 28.6 30.2 34.2 39.1 20.6 21.1 23.7 26.7 4.4 5.2 6.2 6.7 56.1 56.4 57.0 58.2 42.5 42.8 43.1 43.5 28.7 28.9 29.1 29.4 7.7 7.1 7.7 7.1 43.9 44.4 44.9 45.3 45.7 46.2 46.6 47.1 47.6 48.0 48.3 48.8 29.7 30.1 30.4 30.9 31.2 31.6 32.0 32.4 32.8 33.2 33.5 33.9 7.8 7.1 8.0 8.1 8.1 8.7 7.2 7.6 6.3 6.9 7.5 7.3 1965—Jan. 27 59.7 Feb. 24 60.8 62.0 Mar. 31 Apr. 28 62.7 May 26 63.6 65.0 June 30 65.6 July 28 66.2 Aug. 25 66.9 Sept.29 67.4 Oct. 27 p Wov. 24 p 68.1 69.5 Dec. 31 P 1/ 1/ Estimated as of December 3! p - Preliminary. Real estate • • • • # # # # e e i Exhibit C Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted (In billions of dollars) 1W4 Item 19(35 Dec. Loans and Investments 2/ 44.4 ± L Z U. S. Gov't, securities +1.6 Other securities Loans 2/ Jan. Feb. Mar. Apr. May +2.6 ±L5 ± M +1.8 +2.1 +3.4 z h l +4.6 ±oa +2.7 -0.2 -1.5 +0.3 -0.6 -0.5 -0.5 -0.9 -1.3 +0.6 -0.5 +0.5 +0.6 i/ +0.6 +0.2 +0.8 +0.5 +0.1 +1.0 +0.2 +0.8 +0.3 +0.9 +0.2 +0.4 +0.2 +0.5 +2.2 +1.7 +3.1 +1.7 +3.9 +1.3 +2.4 +3.5 -0.3 +3.1 +0.4 +1.8 +1.8 +2.0 Business +0.6 +1.2 +1.5 +1.1 +1.2 +0.7 +0.9 +1.4 +0.6 ' +0.6 +0.7 +0.5 +0.7 +1.4 Real estate +0.3 +0.4 +0.4 +0.5 +0.5 +0.4 +0.4 +0.5 +0.4 +0.5 +0.5 +0.4 +0.3 +0.5 Consumer +0.2 +0.3 +0.3 +0.4 +0.3 +0.5 +0.3 +0.4 +0.4 +0.4 +0.4 +0.4 +0.3 +0.4 Security +0.6 i o <4 Nov. +0.7 -0.7 +0.9 +0.1 1/ +0.6 -1.5 +0.4 -1.3 +0.6 +0.6 -0.2 Nonbank financial +0.1 -0.2 +0.3 +0.1 +0.5 1/ +0.2 +0.4 V +0.2 +0.3 +0.1 +0.2 -0.2 1/ -0.1 V 1/ +0.1 +0.2 4-0.1 -0.1 +0.3 +0.1 1/ -0.2 1/ -0.1 All other +0.4 +0.8 1/ +0.3 +0.3 1/ 1/ +0.3 -0.1 +0.2 +0.1 1/ -0.1 1/ Total loans excluding security 2 / +1.6 +2.4 +2.5 +2.4 +2.9 +1.8 +1.9 +2.9 +1.6 +2.0 +2.0 +1.2 +1.4 +2.0 Total loans excluding security and nonbank financial 2 / +1.5 +2.6 +2.2 +2.3 +2.4 +1.8 +1.7 +2.5 +1.6 +1.8 +1.7 +1.1 +1. 2 +2.2 Agriculture June July Aug. Sept. Oct. p Nov. p Dec. p 4 +2.5 N O T E — I n d i v i d u a l loan items may not add to change in total loans because: (1) loan items are gross of valuation reserves while total loans are net and (2) loan items and total loans are independently seasonally adjusted. Seasonally adjusted loans, b y category, are experimental and are subject to revision. 1/ Less than $50 million. 2/ Adjusted to exclude interbank loans. 3/ Derived by addition of items and not by subtraction from total loans. 4 / Estimated as of D e c e m b e r 31. Exhibit D Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, Not Seasonally Adjusted (In billions of dollars) Item Last Wednesday of November to end of itengmW 1965 3/ 1964 1963 3/ 1962 3/ 1961 1960 1959 All commercial banks Total loans U. S. Gov't, securities Other securities Total + + + + 7.6 0.2 1.0 8.9 ' + + + + 6.6 0.3 0.7 7.6 + + + + 5.3 1.1 1.0 7.4 + + .+ + 5.6 0.8 0.5 6.8 + + + + 4.4. 0.4 0.5 5.3 + + + + 3.3 0.8 0.6 4.6 + + + + 2.7 0.4 0.2 3.4 Weekly repotting banks Total loans U. S. Gov't, securities Other securities Tbtal y- + + + + 5.7 0.6 0.7 7.0 + + + + 4.8 0.7 0.5 6.0 + + + + 4.2 1.1 0.6 5.9 + + + + 4.5 1.2 0.3 6.0 + + + + 3.7 0.3 0.4 4.4 + + + + 2.5 0.9 0.5 3.9 + + + + 2.4 0.4 0.1 2.9 Other banks Total loans U. S. Gov't, securities Other securities Total + + + 1.9 0.4 0.3 1.9 + + + 1.8 0.4 0.2 1.6 + 1.1 1/ + 0.4 + 1,5 + + + 1.1 0.4 0.2 0.8 + + + + 0.7 0.1 0.1 0.9 + + + 0.8 0.1 0.1 0.7 + 0.3 1/ + 0.1 + 0.5 i Item Year eilded December 1965 3/ 1964 1963 3/ 1962 3/ 1961 1960 All commercial banks Total loans U. S. Gov't, securities . Other securities , Total 4-25.5 - 4.1 + 5.9 +27.4 +18.2 - 0.4 + 3.7 +21.5 +16.0 - 3.0 + 5.8 +18.8 +14.0 - 0.2 + 5.4 +19.2 + 7.2 + 5.6 +- 3.1 +15.9 + + + + 6.7 2/+12.5 2.1 2/- 7.4 0.4 2/- 0.1 9.1 2/+ 5.0 Weekly reporting banks Total loans U. S. Gov't, securities Other securities Total +15.8 - 3.4 + 3.0 +15.5 + 9.6 - 0.8 + 1.8 +10.6 + + + 9.2 3.3 3.6 9.5 + + + 7.9 1.9 3.7 9.7 + + + + 3.5 3.6 2.0 9.1 + + + + 2.7 2.5 0.2 5.5 + + 7.7 7.0 0.4 0.3 Other banks Total loans U. S. Gov't, securities Other securities Total + 9.7 - 0.7 + 2.9 +11.9 + 8.6 + 0.4 + 1.9 +10.9 + + + + 6.8 0.3 2.2 9.3 + + + + 6.1 1.7 1.7 9.5 + + + + 3.7 2.0 1.1 6.8 + + + 4.0 2/+ 0.4 2/0.2 2/+ 3.6 2/+ 4.8 0.4 0.3 4.7 1959 NOTE—Data exclude all interbank loans; call report data for weekly reporting banks used • when available. Less than $50 million. 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. Estimated as of December 31, 1965, and December .31, 1962, for all commercial banks 2/ and weekly reporting banks and for all commercial banks, December 31, 1963. 1/ • • e • • • • • • Exhibit E Changes in Commercial and Industrial Loans at Weekly Reporting Banks (In millions of dollars) End of November to end of December 1/ Business of borrower End of December to end nf Tiprcmhpr. ? / 1965 1964 1963 1962 1961 1965 1964 1963 Food processors Commodity dealers Trade concerns Total +267 + 22 +269 +140 - 27 - 91 + 22 + - 82 73 33 24 +129 - 58 - 97 - 26 + 92 +120 -185 + 27 + 394 + 29 +1.103 +1,526 + 67 + 23 +248 +338 + 59 +310 +395 +764 Metals and products Textiles, apparel, etc. Petroleum, coal, etc. Other manufacturing and mining Public utilities Construction All other types of business Banker's acceptances Other, mainly services +229 - 79 +161 +168 - 74 4141 + 58 - 30 + 18 + 89 - 64 + 7 +123 - 19 + 51 +1,493 + 317 4 868 +481 - 85 +299 - 77 +148 + 7 +206 +387 - 30 +232 + 45 +187 +131 +252 + 8 +379 +158 +221 + 5 +188 - 54 +282 n.a. n.a. - 55 +197 - 27 +209 n.a. n.a. +133 +207 +1,175 +1,485 +. 305 + 620 - 425 +1,045 +532 +159 +440 +837 n.a. n.a. +484 +158 +147 +525 n.a. n.a. +423 +3,001 +809 +2,157 +535 +1,729 +3,810 +2,692 ¥2.246 - 20 - 6 +199 Classified Unclassified +1,375 +185 +1,027 + 93 +443 +161 +329 +157 + 98 +7,789 +1.054 Total change +1,560 +1,120 +604 +486 +811 +8,843 1/ Four most comparable weeks used throughout. and Dec. 26, 1962; and Dec. 27, 1961. +468 n.a. n.a. Periods end Dec. 22, 1965; Dec. 23, 1964; Dec. 25, 1963; 2/ Changes are compiled from Dec. 28, 1960 to Dec. 27, 1961, to Dec. 26, 1962, to Dec. 25, 1963, to ~ Dec. 23, 1964, to Dec. 22, 1965. These data cannot be linked with all commercial bank data which are always for December 31. +198 p-1,028 -264 Exhibit F Loans and Investments at All Commercial Banks (In billions of dollars) Nonbank financial institutions Loans and investments U. S. Gov't. Other securities Total loans Business Real estate Security Farm Consumer (est.) 169.3 184.4 184.2 184.2 189.5 198.5 214.4 233.6 58.2 66.4 60.9 60.9 58.9 61.0 66.6 66.4 17.9 20.6 20.6 20.6 20.5 20.9 23.9 29.3 93.2 97.5 102.8 102.8 110.0 116.7 123.9 137.9 40.5 40.4 42.5 37.8 40.2 43.1 45.2 49.1 23.1 25.3 26.9 26.9 28.1 28.7 30.3 34.3 4.2 4.7 4.1 4.1 4.9 5.1 6.2 7.3 4.1 5.0 5.0 5.0 5.0 5.7 6.2 7.1 15.8 15.9 17.5 17.5 18.8 20.6 21.4 23.7 1 9 6 3 — D e c . 31 (est.) 252.4 63.4 35.1 153.9 53.7 39.2 7.9 7.4 26.7 10.2 11.8 1 9 6 4 — May 27 June 30 251.5 257.3 59.1 59.3 35.8 36.4 156.7 161.6 53.9 55.1 40.8 41.4 7.5 8.2 7.7 7.7 27.8 28.2 9.3 10.5 13.0 13.8 July 29 Aug. 26 Sept.30 Oct. 28 Nov. 25 Dec. 31 254.2 256.1 262 .2 262 .4 266.3 273.9 58.3 58.8 60.7 61.4 62.7 63.0 36.5 37.1 37.8 38.0 38.1 38.8 159.4 160.2 163.7 163.0 165.5 172.1 54.4 54,9 56.1 56.3 57.4 60.2 41.8 42.2 42.7 43.0 43.4 43.7 7.6 7.2 8.1 7.1 7.4 8.4 7.7 7.5 7.5 7.5 7.6 7.5 28.5 28.7 28.9 29.0 29.1 29.4 9.5 9.7 10.1 9.5 9.6 10.9 13.3 13.4 13.7 14.0 14.4 15.5 269.1 270.7 273.9 275.9 277.1 283.9 61.5 60.5 59.0 58.3 57.2 56.9 39.1 39.7 40.3 41.4 41.1 42.2 168.5 170.5 174.5 176.2 178.8 184.9 58.9 60.3 62.2 62.5 63.4 65.5 • 43.9 44.1 44.5 45.0 45.5 46.2 7.4 7.1 7.8 7.9 7.9 9.0 7.7 7.8 7.9 8.1 8.1 8.1 29.5 29.7 30.0 30.7 31.2 31.9 9.8 9.9 10.5 10.3 10.4 11.5 15.0 15.1 15.2 15.4 15.8 16.3 2*81.2 283.2 286.8 290.3 292.4 301.3 56.3 55.5 55.9 58.5 58.7 58.9 42.6 43.4 43.9 44.1 43.7 44.7 182 . 4 184.3 187.0 187.8 190.0 197.6 64.8 65.5 66.9 67.3 68.6 71.9 46.7 47.3 47.8 48.2 48.6 48.9 7.0 7.0 6.7 6.9 7.2 8.6 8.2. 7.9 7.9 7.9 8.0 8.0 32.3 32.7 33.0 33.3 33.5 33.9 11.2 11.5 12.0 11.4 11.6 13.3 15.9 16.1 16.3 16.3 16.2 16.6 Date 1957—Dec. 1958—Dec. 1959—June June Dec. 1960—Dec. 1961—Dec. 1962—Dec. 1965—Jan. Feb. Mar. Apr. May June 31 31 24 24 31 31 30 31 (old) (new) 1/ 27 24 31 28 26 30 July 28 Aug. 25 Sept .29 Oct. 27 p Nov. 24 p Dec. 31 p (est.) - " 5.9 7.1 7.1 7.3 8.5 All other 7.2 8.2 8.8 7.6 8.1 8.7 9.8 10.7 p - Preliminary. 1/ Structure changes in 1959, 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. N O T E — D a t a exclude interbank loans. Total loans are after and types of loans before deductions for valuation ^ B e z i m i i n g ^ u n e 24, 1959, "business loans" partly estimated for all dates. Other data are partly estimated on all but June and December ca and "all other loans" have been revised to exclude loans to nonbank financial institutions. http://fraser.stlouisfed.org/ e Reserve Bank e Federal of St. Louis e e e e # # # # # Exhibit G Ratios to Total Deposits 1/ U.S. Government securities maturing within one year L OA N S Date All commercial Total banks Member banks Reserve city banks City of New York Other Chicago City Country All commercial banks 31 31 31 31 31 31 31 31 31 31 31 31 31 31 28 25 31.2 31.1 35.8 37.2 39.3 40.5 40.3 45.8 48.8 49.7 48.4 54.0 55.1 54.5 56.5 58.6 31.3 30.9 36.1 37.6 39.9 41.1 40.7 46.7 50.1 51.0 49.4 55.6 56.5 55.7 57.7 59.9 35.9 34.9 42.5 46.3 50.6 50.6 46.8 56.7 61.7 61.9 57.7 67.3 65.9 65.0 67.9 67.4 30.4 25.6 32.3 36.2 38.9 39.1 38.3 46.3 52.7 55.2 49.4 58.2 60.8 58.0 61.4 62.1 33.4 32.4 38.1 39.4 41.1 42.2 41.9 48.5 52.7 53.3 51.3 58.2 59.0 57.7 60.1 63.3 27.1 28.5 31.5 32.1 33.9 36.1 37.1 40.7 42.6 44.1 44.4 48.2 50.3 50.2 51.7 53.8 1964—June 30 60.7 61.9 69.1 62.6 64.9 56.2 6.6 July 29 Aug. 26 Sept.30 Oct. 28 Nov. 25 Dec. 31 61.1 61.1 60.4 60.4 60.7 60.5 62.2 62.2 61.6 61.6 62.0 61.9 68.7 69.0 68.0 67.8 69.4 69.3 61.3 62.7 62.3 62.0 62.1 64.4 66.0 66.1 66.0 65.5 66.1 65.0 56.4 56.2 55.8 55.8 55.9 56.0 5.7 6.3 6.9 7.2 8.0 8.0 60.9 61.6 61.9 62.4 63.3 63.6 62.2 63.0 63.3 63.7 64.6 64.9 69.9 71.8 71.9 71.2 72.7 74.3 63.4 65.0 67.6 64.9 65.3 67.0 65.4 66.4 66.1 67.1 68.1 67.8 56.3 56.4 56.9 57.6 58.3 58.3 7.1 7.0 6.4 6.3 6.2 6.0 63.7 64.1 63.9 63.8 64.3 64.2 65.0 65.5 65.3 65.2 65.9 65.7 72.2 74.8 73.4 73.8 77.6 75.9 67.1 67.7 69.3 69.6 68.2 71.5 68.9 69.0 69.1 69.1 69.3 68.9 58.6 58.7 58.4 58.3 58.4 58.4 5.7 6.1 6.4 r 7 .1 7.3 n.a. 1948—Dec. 1949—Dec. 1950—Dec. 1951—Dec. 1952—Dec. 1953—Dec. 1954--Dec. 1955—Dec. 1956--Dec. 1957—Dec. 1958—Dec. 1959—Dec. 1960—Dec. 1961—Dec. 1962—Dec. 1963—Dec. 1965—Jan. Feb. Mar. Apr. May June 27 24 31 28 26 30 July 28 Aug. 25 Sept.29 Oct. 27 p Nov. 24 p Dec. 29 p 2/ 2/ 2/ 3/ 14.2 19.2 15.2 9.8 11.7 16.9 10.0 5.1 7.5 8.4 8.3 7.4 8.7 11.2 9.5 7.5 JL/ 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). 2/ 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. 3/ Estimated for December 31. NOTE--Comparability of figures affected by changes in Federal Reserve membership, mergers, and by changes in the reserve classification of cities or individual banks, p - Preliminary. r - revised i 1.4.3.-EXHISII H, Fail 1 DEPOSITS A N D CURRENCY AND TURNOVER OF DEMAND DEPOSITS I S e a s o n a l l y o d j u s f d> d > p o > l t > , ** t w r n o v o r , m o n t h l y Annual monthly a v i n g i t dolly tigwrosj 1 Billions roll of dollars I II I IN II LI I 1 11 II II II I ONEY IIMI AND SUPPLY SAVINGS DEPOSITS '343 Cemtor# 224 SMSA'S TUIt N O V E l lOwuWTNY.C i1v:N $o:t o oovCWsOiim ~" dimfd lor too»onol f 10 2 ol 11**0 \ 1**11 *0 QfMi 1»*S 1**1, 0 H I H I III I I lllll I II I It** fi**s] Exhibit H - Part II S e a s o n a l l y *M o n «$ y Period Total A d j u s t e d S u p |» 1 y Demand deposits ^)AlI cowworclol bowkt*?) D ti t a Time and Turnover savings outside Currency deposits N.Y. Citv* U.S. Gov't, deposits 1963--December 1964--November December 153.1 159.1 159.7 120.6 124.8 125.4 32.5 34.2 34.2 112.2 125.1 126.6 33.9 * 33.2 * 33.4 5.1 5.8 5.5 1965--September October November December p 164.3 165.6 165.7 167.4 128.7 129.7 129.6 131.1 35.6 35.9 36.1 36.3 141.6 143.6 145.5 146.9 35.3 35.1 37.0 n. a. 5.6 5.0 4.0 4.5 Week ending: Dec. 1 8 15 22 29 p 165.7 166.6 166.5 167.8 168.6 129.6 130.3 130.2 131.5 132.3 36.2 36.3 36.3 36.4 36.3 146.4 146.5 146.8 146.9 147.4 n. a. n.a. n.a. n.a. n.a. 5.7 4.8 2.6 4.4 5.9 p - Preliminary. * Beginning January 1964, data are for 224 metropolitan centers outside New York City. Figure for December 1964 on old basis is 35.3. NOTE: Dollar amounts in billions. 1.4.3 - EXHIBIT 1, * P w r t 1 TIME AND S A V I N O S D I P O S ITS A T M E MBIR BANKS IN LEADING CITIES Wednesday llgvrei Billion® of dollar* | TOTAL TIME A N D SAVINGS DEPOSITS 60 | SAVINGS DEPOSITS 40 30 TIME D E P O S I T S O f I N D I V I D U A L S , PARTNERSHIPS, AND CORPORATIONS j 20 OTHER TIME D E P O S I T S L Exhibit I - Part II T i m e Period Total (I n and S a v i n Savings m i l l i o n s gs D e p o s i t : s Individuals, partnerships, and coroprations of: Other time deposits J./ d o l l a r s ) 26 27 26 31 25 30 38,175 41,472 50,011 59,227 65,612 66,881 27,819 30.082 34,712 38.083 40,255 40,698 5,480 5,969 9,080 13,310 16,288 16,407 4,876 5,421 6,219 7,834 9,069 9,776 1965—Aug. 25 Sept.29 Oct. 27 Nov. 24 75,703 76,276 77,464 77,694 43,779 44,319 44,719 45,048 20,923 21,003 21,739 21,552 11,001 10,954 11,006 11,094 77,662 77,852 77,430 77,864 78,260 45,094 45,152 45,160 45,190 45,362 21,511 21,648 20,954 21,175 21,258 11,057 11,052 11,316 11,499 11,640 1961—Apr. Dec. 1962—-Dec. 1963—Dec. 1964—Nov. Dec. Dec 1/ ~* 1 8 15 22 29 Includes States and political subdivisions, U.S. Government, foreign governments and official institutions, and interbank. • > • e # # e Exhibit J A ' e • e Member Bank Reserves \ (Based on averages of daily figures; in millions of dollars) Excess reserves Free reserves (excess reserves minus borrowings) Date Monthly averages: 1956—December 1957 —December 1958--December 1959--December 1960--December 1961-December 1962--December 1963--December 1964--April May June July August September October November December 1965--January February March April May June —•- July Aug. Sept. Oct. Nov. Dec. p NOTE: Reserve City Banks City of New York Other Chicago City All member Country All member Borrowings Total reserves held seasonally adjusted All member All member - 91 -105 - 80 -109 10 - 50 - 62 19 - 86 - 77 - 32 -104 - 4 - 22 - 11 - 21 -203 -228 -197 -449 80 20 - 52 -122 344 277 268 237 583 471 394 334 652 577 516 482 756 568 572 536 688 710 557 906 87 149 304 327 17,185 17,077 17,942 17,978 18,283 18,977 19,548 20,240 - 1 - 25 - 14 - 2 - 13 - 77 -112 -114 259 221 248 380 337 390 213 255 270 20,482 20,404 20,682 135 83 89 106 - 34 168 - 17 21 16 34 86 14 - 19 7 33 26 16 31 -102 -154 -140 -116 -178 -103 273 265 278 282 246 315 400 417 420 415 396 411 265 334 331 309 430 243 20,665 20,753 21,012 20,949 21,033 21,082 103 32 - 76 -112 -178 -185 - 70 - 90 - 97 - 50 - 13 -114 - 17 37 45 40 4 15 - 83 -144 -148 -239 -333 -274 273 302 215 217 172 214 402 437 340 359 327 343 299 405 416 471 505 528 21,174 21,355 21,506 21,722 21,671 21,840 -175 -136 -155 -149 - 84 - 4 -135 - 32 - 47 - 28 - 78 - 71 - 25 36 43 80 31 8 -214 -228 -246 -207 199 160 181 166 349 428 373 341 21,865 21,816 21,816 21,872 : \ n m SJ 524 564 528 490 452 454 - 36 -133 - 41 -424 669 419 268 209 167 82 120 - 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, e 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 Demand deposits and currency 2/ Commercial banks 3/ Mutual savings banks Postal Savings System U. S. Gov't, Savings savings and loan bonds 5/ shares 4/ U. S. Gov't, securities maturing within one year £ / 8 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 Jan. Feb. Mar. Apr. Hay June July Aug. Sept. Oct. ftuV. Dec. 1965 Jan. Feb. Mar. Apr. May June 48.2 26.3 2.1 49.7 52.0 57.5 65.4 67.4 73.1 82.5 98.1 112.9 28.1 1.9 30.0 31.6 33.9 34.9 36.2 38.3 41.4 44.5 0.9 0.5 0.5 70.5 79.8 90.9 55.6 55.9 54.8 51.6 50.5 47.9 47.0 47.4 47.6 49.0 45.0 •45.4 45.6 46.0 46.3 46.8 0.5 0.4 0.4 0.4 0.4 0.4 91.4 92.4 93.5 94.1 94.9 95.8 49.1 49.0 49.0 49.1 49.1 49.? 48.6 48.4 49.3 49.5 49.4 49.4 121.9 123.8 125.9 127.1 47.1 47.5 47.9 48.3 48.6 49.0 0.4 0.4 0.4 0.4 0.4 0.4 96.6 97.8 99.1 99.8 101.3 49.3 49.3 49.4 49.4 49.5 49.9 46.7 47.1 47.4 46.8 46.7 46.1 156.1 154.8 158.6 156.3 155.4 159.6 130.6 131.9 133.0 134.1 134.9 136.3 49.4 49.6 49 8 50.1 50.4 50.8 0.4 0.4 0.4 0.4 0.4 0.4 101.7 102.6 103.6 103.9 104.4 105.1 50.0 49.9 49.9 49.9 49.9 50.0 46.8 47.3 47.6 48.6 47.6 48.0 157.7 157.8 160.6 138.3 139.8 141.6 144.0 146.5 146.8 51.1 51.3 51.6 52.0 52.3 52 .5 0.4 0.3 0.3 0.3 0.3 0.3 105.5 106.5 107.7 108.3 109.2 109.7 50.1 50.1 50.1 50.1 50.1 50.5 47.9 49.8 48.7 49.1 4 9 ,4 49.0 320.3 332.5 343.2 356.0 373.1 393.9 399.2 424.6 459.0 495.4 498.9 499.6 504.0 506.1 507.7 511.4 149.5 148.4 150.2 149.9 149.7 151.2 114.8 115.5 115.9 117.0 117.9 511.8 514.9 521.0 523.4 526.9 530.4 151.8 152.2 155.0 155.0 155.0 156.7 119.8 534.9 536.4 542.8 543.3 543.0 550.2 550.9 July Aug. 555.6 560.6 Sept* Oct. 565.0 568.2 Nov. 572.5 Dec, p For footnotes see next page. p - Preliminary. 30.6 31.6 33.2 38.8 35.6 48.8 41.9 42.6 46.8 48.1 27.2 32.0 37.0 41.7 47.7 54.3 130.2 133.3 134.6 133.5 138.8 139.7 138.4 142.6 144.8 149.6 161.1 160.3 163.7 118.6 120.6 1.6 1.3 1.1 0.8 0.6 61.8 100.8 Liquid assets to gross national product 7/ 85.3 8-1.3 79.7 80.5 79.3 Ratios: Commercial Demand deposits and bank deposits currency to and currency to gross nation- liquid assets (2 + 3 f 1) al product 7/ 10 11 34.7 32.6 31.3 30.4 29.7 80.2 28 <6 79.0 78.4 79.5 81.3 27.5 26.4 25.1 24.7 81.4 24.3 81.3 24.1 81.1 24.0 82.0 24.2 81.5 23.8 81.5 23.5- 55.7 55.0 54.4 53.6 54.8 52.6 53.0 53.0 52.9 53.0 53.0 52.8 52.8 52.7 52.7 52.7 53.1 53.0 53.2 53.3 53.3 53.5 53.6 53.4 53.7 53.5 53.5 53.8 53.7 53.6 81,3 81.6 23.3 532 23.3 54.0 54.0 54.2 Exhib it K (Continued) - E S s H r S S B S S S S E r s developed by the Bureau of the Census • llHBiiililSi out. zzsur* a e p o s a. lb uj. wuium;*. ta — — - . " . possessions are included as indicated for demand deposits in footnote 4 - s ^ " £ c to with- ° s r -mmmmmsm drawal of savings capital compiled by the Federal Home Loan Bank Board. »«!««« Treasury Department. (each http://fraser.stlouisfed.org/ Federal Reserve Bank of•St. Louis month of the current quarter and the last month of the preceding quar er e — • ' • # • • #
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