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rtOfcRAl M - S W E .( k / x h s a : , o! r' L.4.3 Not for publication BANK o f * January 18, 1971 JAN 2 5 - Research Library - BANKING AND MONETARY DEVELOPMENTS IN DECEMBER 1970 Summary. Commercial bank credit, adjusted for transfers of loans between banks and their affiliates, increased more substantially in December than earlier in the fourth quarter. Bank acquisitions of municipal and Federal agency securities continued very heavy. Holdings of U.S. Treasury issues also increased, partly in association with Treasury financing operations. Total loans, adjusted for loan transfers, increased slightly following a net reduction over the two previous months. Loans to security dealers increased fairly sharply and net repayments by businesses moderated somewhat. The money stock increased at a considerably faster pace in December than in October or November. And growth in time and savings deposits was also faster. Reductions in bank-related commercial paper and Euro-dollar borrowings continued substantial. Net borrowed reserves declined further. Changes in Commercial Bank Credit, Money Stock, and Time Deposits 1970 1969 1968 Second Half First Second Fourth Qtr. Year Half Half Dec. Year Year Total bank credit 11.0 3.1 2.0 7.8 2.5 12.8 j 8.3 14.6 U.S. Govt. sec. 3.0 -15.7 -15.6 11.8 8.5 14.4 2.8 31.9 - 1.4 20.1 10.4 28.3 34.5 34.6 5.0 Other securities 16.4 - Loans 11.6 8.4 6.6 3.9 - 0.5 8.3 2.2 11.1 10.6 7.4 2.6 0.9 4.3 - 3.6 Business loans - Adjusted for loan sales to bank affiliates Total bank credit Loans Business loans Money stock Time deposits 10.1 6.1 12.0 4.4 - 1.0 1.2 8.1 - 3.7 - 9.2 - 6.5 5.9 4.8 3.4 6.2 7.8 27.8 21.6 28.3 4.5 11.0 4.0 2.9 7.4 11.6 9.9 7.8 3.4 . 2.4 11.1 13.1 9.5 2.1 7.8 3.1 1.2 5.4 11.1 - 5.0 - 6.6 18.3 j j i Bank credit. Total loans and investments at all commercial banks, after adjustment for loan transfers, increased $4.3 billion in December, raising growth over the fourth quarter to an annual rate of 6.1 percent--less than half the sharp pace of the third quarter but somewhat above the first half expansion. For the year as a whole, loans and investments increased 7.4 percent compared with 4 percent in 1969, and 11 percent in 1968--and with an average 8 percent rate over Acquisitions of Treasury, municipal, and Federal the 1960-69 period. agency issues were much larger than usual in December at both large and small banks. While loan expansion (adjusted for transfers) was somewhat more substantial than usual at large banks, it was about the normal volume at small banks. Holdings of municipal, Federal agency, and other securities increased an additional $2.4 billion in December bringing the annual growth rate for the fourth quarter to almost 35 percent--the largest increase for any quarter on record. At large commercial banks, acquisitions of both short- and longer-term municipals were exceptionally large and holdings of Federal agency issues also increased markedly. Holdings of U.S. Government securities increased $1.5 billion in December following a net reduction earlier in the fourth quarter. The December expansion was associated in part with the Treasury strip bill offering--$2.1 billion delivered on December 2 and payable 100 percent in tax and loan accounts. In addition, the Treasury increased by $200 million the volume of bills sold in the regular weekly bill auctions. Over the year 1970, holdings of Treasury issues increased at an annual rate of almost 12 percent compared with a decline of almost 16 percent in 1969, and relatively small growth in 1968. Business loans (adjusted for transfers) declined $600 million in December--a somewhat more moderate rate of decline than earlier in the fourth quarter. The slower pace of reduction no doubt reflected the resumption of auto production at General Motors and some pickup in general business activity. However, loan demands around the mid-month tax and dividend payment dates continued to be quite weak. Moreover, acquisitions of bankers acceptance were responsible for a significant part of the improvement in the business loan picture. On balance, over the year, the 2 percent increase in business loans was the smallest expansion since 1958. Growth in real estate loans is estimated to have picked up a little in late 1970, while that in consumer loans slackened somewhat. In both cases the pace of expansion over the year was about one-third that in 1969. On the other hand, loans to security dealers and to nonbank financial institutions both increased in 1970, compared with reductions in 1969. Money stock, time deposits, and nondeposit sources of funds. The money stock increased at an annual rate of 6.2 percent in December, substantially more than in October or November. Private demand deposits rose sharply after two months of slow growth and currency holdings continued to show strong expansion. Over the fourth quarter, money stock growth was at an annual rate of 3.4 percent compared with 6 percent earlier in the year. Growth in time and savings deposits was at an annual rate of over 28 percent in December, or almost double the November pace. At large commercial banks, both acquisitions of large negotiable CD's and inflows of consumer-type time and savings deposits accelerated. And sharp growth in State and local deposits more than offset a further decline in deposit balances of foreign official institutions. Time and savings deposits increased at an annual rate of about 22 percent over the fourth quarter and 18 percent over the year compared with a decline of 5 percent over the year 1969. Nondeposit sources of funds declined an additional $1.5 billion in December—or at about the same substantial pace as in October and November--and at the December month-end were at a lower level than at any other time since data were first collected in May 1969. These funds had increased to a peak level in May 1970. Bank reserves. Net borrowed reserves of member banks continued to decline, averaging about $90 million over the five weeks ending December 30 compared with $200 million in November. Member bank borrowings dropped further and excess reserves rose. Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System L.4.3 • EXHIBIT A, PART 1 LOANS AND INVESTMENTS AT ALL COMMERCIAL BANKS Last Wednesday of month, seasonally adjusted Billions of dollars. TTTTTlTr 400 TOTAL LOANS AND INVESTMENTS 300# LOANS 200# 80 OTHER SECURITIES U.S. GOVT. SECURITIES 4d# 1966 * CHANGE IN SERIES. 1967 1968 1969 1970 e • • # e • e e # /» Exhibit A - Part II Loans and Investments at All Commercial Banks (Seasonally Adjusted) Date Loans Total ( I n 1962--Dec. 1963--Dec. 1964--Dec. 1965--Dec. 1966--Dec. 1967--Dec. 1968--Dec. 31 2/ 31 2/ 31 31 31 30 31 227.9 246.2 267.2 294.4 310.5 3/ 346.5 384.6 b i l l i o n s 134.0 149.6 167.7 192.6 208.2 3/ 225.4 251.6 U.S. Gov11. securities of Other securities d o l l a r s 64.6 61.7 60.7 57.1 53.6 59.7 61.5 ) 29.2 35.0 38.7 44.8 48.7 61.4 71.5 1969--June 30 (old serie s) 4/ June 30 (new serie s) July 30 Aug. 27 Sept.24 Oct. 29 Nov. 26 Dec. 31 392.5 397.3 397.7 397.5 396.5 397.6 401.2 401.3 264.3 269.2 269.9 270.3 271.3 273.8 276.4 278.1 56.2 56.3 56.8 56.9 54.7 53.5 53.4 51.9 72.0 71.8 71.0 70.3 70.5 70.3 71.4 71.3 1970--Jan. 28 Feb. 25 Mar. 25 Apr. 29 May 27 June 30 July 29 Aug. 26 Sept.30 Oct. 28 p Nov. 25 p Dec. 31 e 398.5 399.7 400.9 403.5 405.9 406.4 412.8 418.3 423.7 424.0 427.3 432.5 276.6 278.5 277.6 277 .0 278.0 277.4 281.5 284.1 287 .3 286.9 287.7 288.9 50.4 49.8 50.3 52.4 53.4 54.1 55.8 57.5 57.6 56.3 56.5 58.0 71.5 71.4 73.0 74.0 74.5 75.0 75.5 76.7 78.8 80.8 83.2 85.6 1/ 2/ Adjusted to exclude interbank loans Estimated as of December 31. ~ loans. Beginning June 30, 1966 total loans exclude, -:.d other securities include, about $1 billion of participation certificates. 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. 3/ 4/ p - Preliminary r - Revised e - Estimated Beginning June 9, 1966, loan data exclude $1.1 billion of balances accumulated for payment of personal Also 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. NOTE: Chart has not been completely revised for changes in data relating to benchmark revisions. lapping data for March 1969 and October 1969 are shown. Over- e L.4.3 - EXHIBIT B, Part 1 LOANS AT ALL COMMERCIAL BANKS Billions of dollars Last Wednesday of m o n t h , seasonally adjusted 110 BUSINESS REAL ESTATE CONSUMER SECURITY 1 1 M J 1966 * CHANGE IN SERIES. S 1968 1 1 1970 EXHIBIT A - PART H I LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES Date 1969 Jtine 30 July 30 Aug. 27 Sept.24 Oct. 29 Nov. 26 Dec. 31 1970 Jan. 28 Feb. 25 Mar. 25 Apr . 29 May 27 June 30 July 29 Aug. 26 Sept.30 Oct. 28 p Nov. 25 p Dec . 31 e Loans sold outright by commercial banks (outst a n d m g in b illions of dollars N.S. A . ) Sold to Sold to Affiliates 1/ nonbank public 2/ Business Business Business Total Total Loans Total 2.8 3.6 4.1 4.6 5.8 6 .0 5.2 1.7 5/ 2 .3 2.6 2.9 3.8 4.0 3 .0 7.5 8.2 8.5 8.8 9.6 9.7 9.9 9.6 r 6 .8 5.9 5.5 5.0 5 .6 5.9 6.1 6 .9 7 .0 6 .8 6 .4 4.0 3 .5 3 .0 4.6 2.3 2.1 2.7 3.2 3.7 4.7 4.7 3.8 5.8 6.4 6.7 6.9 7.8 7.9 8.0 7.8 5.0 r 4.2 3.6 2.7 Commercial bank credit (seasonally ad iu sted) Total loans and inv estments Original Ad lusted 3/ 1.3 5/ 1.8 2.1 2.4 3.2 3.3 2.4 0.7 0.9 0.9 0.9 1.1 1.3 1.4 0.4 5/ 0.5 0.5 0.5 0.6 0.7 0.6 397.3 7/ 397.7 397 .5 396.5 397.6 401.2 401.3 4.3 4.8 5.1 5.4 6 .2 6.3 6.2 5.8 3.5 3.0 2.5 1.9 1.7 1.8 1.8 1.8 1.8 1.8 1.9 1.8 1.7 1.8 1.8 1.9 0.7 0.8 0.7 0.8 0.7 0.7 0.6 0.6 0.5 0.5 0.5 0.4 398.5 399.7 400.9 403.5 405.9 406.4 412.8 418.3 423.7 424.0 427.3 432.5 269.2 269.9 270.3 271.3 273.8 276.4 278.1 271.3 272 .6 273 .5 275 .0 278.5 281.1 281.9 102.3 102.4 103.4 104.1 104.5 104.8 106.1 103.6 104 .2 105 .5 106.5 107.7 108.1 108.5 404.3 4%.l 407.6 410.4 413.7 414.3 420.8 426.1 428.7 r 428.2 430.9 435.2 276 .6 278.5 277.6 277 .0 278.0 277 .4 281.5 284.1 287.3 286.9 287 .7 288.9 282.4 284.9 284.3 283.9 285.8 285.3 289.5 291.9 292.3 r 291.1 291.3 291 .6 105.4 105.6 105.1 105.2 105.7 106 .6 106.9 108.4 109.9 109.1 r 109.9 108.9 109.7 110.4 110.2 110.6 111.9 112.9 113.1 114.2 113 .4 112.1 r 111.4 110.8 (Annual rates :in per cent) 0.8 0.8 0.5 0.5 0.2 0.2 -0.8 0.6 0.6 0.3 0.3 0.9 0.2 -1.0 0.6 0.6 0.5 0.5 1.0 6/ -0.9 0.5 0.5 0.3 0.3 0.8 0.1 -0.9 6/ 0.2 0.2 -0.1 1970 2.3 Jan. 28 0.7 Feb. 25 0.3 Mar. 25 0.3 Apr . 29 May 27 0.8 0.1 June 30 0.2 July 29 Aug. 26 r -0.4 Sept .30 r -2.8 Oct. 28 p r-0.9 -0/4 Nov. 25 p Dec . 31 e -0.9 2.0 0.6 0.3 0.3 0.3 0.1 -0.2 -0.4 -2.4 -0.5 -0.4 2.u 0.6 0.3 0.3 0.9 0.1 0.1 -0.2 2.8 r -0.8 r -0.6 -0.9 1.9 0.5 0.4 0.2 0.8 0.1 -0.1 -0.4 -2.3 -0.5 -0.5 0.3 0.1 6/ 6/ 6/ 6/ 0.1 -0.1 -0.1 0.1 6/ u.l 0.1 6/ 6/ -0.1 6/ -0.1 6/ -0.1 6/ -0.6 0.1 -0.1 1/ 2/ 3/ 47 5/ 6/ ]_/ p c r - -0.7 0.2 0.2 y 0.1 0.1 • 6/ 6/ 0.1 0.1 -0.1 61 ' 0.9 1.2 -0.6 -3.0 3.3 10.9 0.3 2.7 3.0 0.9 -1.5 6.3 10.7 -2.4 0.9 3.1 1.8 4.4 11.1 11.4 7 .3 3.5 5.7 4.0 6.6 15.3 11.2 3.4 -8.4 3.6 3.6 7.8 7.1 1.5 18.9 16.0 15.5 0.8 9.3 14.6 -2.4 5.3 4.4 8.2 9.6 -6.5 8.2 -3.9 -2.6 4.3 -2.6 17.7 2.1 10.6 -2.6 -1.7 8.0 -2.1 17.7 9.9 1.6 r -4.9 r 0.8 1.2 1.7 18.8 15.1 7.3 r -1.4 r 7.6 12.0 J 11.1 13 .5 -1.7 3.3 5.0 To bank holding companies, affiliates, subsidiaries, or foreign branches. To other than banks' and bank-related affiliates 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 . Partly estimated. Less than $50 million. Adjusted to maintain comparability with subsequent data. Preliminary •* c Corrected. Revised. Business loans Original Adjusted 4/ 399.4 400.4 400.7 400.2 402.3 405.9 405.1 (Net change in billions of dollars) 1969 June 30 July 30 Aug. 27 Sept .24 Oct. 29 Nov. 26 Dec. 31 Total loans Original Ad lusted 3/ 1.2 11.7 8.1 4.6 3.4 14.9 -7.9 2.2 -5.7 1.1 5.7 10.2 3.4 16.8 16 .6 -8.7 r -2 .2 5.8 6.9 15.0 11.4 13.5 4.5 4.4 13.3 7.7 -2 .? 4.4 14.1 10.7 2.1 11.7 -8.4 -13 .8 r -7.5 -6.5 Exhibit B - Part II Loans at All Commercial Banks Seasonally Adjusted Date Business (In 1962—Dec. 1963—-Dec. 1964—-Dec. 1965—Dec. 1966—Dec. 1967—Dec. 1968—Dec. 31 1/ 31 1/ 31 31 31 31 31 47.6 52.Q 58.4 69.4 78.6 86.3 95.9 1969—June 30 July 30 2/ Aug. 27 Sept.24 Oct. 29 Nov. 26 Dec. 31 Dec. 31 102.3 102.4 103.4 104.1 104.5 104 .'8 106.1 1970—Jan. 28 Feb. 25 Mar. 25 Apr. 29 May 27 June 30 July 29 Aug. 26 Sept.30 Oct. 28 p Nov. 25 p Dec . 31 e 105.4 105.6 105.1 105.2 105.7 106.6 106.9 108.4 109.9 109.1 108.9 108.9 Real Estate b i l l i o n s 34.2 39.1 43.6 49.2 53.8 58.4 65.0 68.4 68.7 69.0 69.3 69.6 69.9 3/70.4 (old) 69.9 (new) 70.2 70.5 70.7 70.7 70.7 70.6 70.7 70.8 71.0 71.2 : 71.5 71.9 Consumer of Security Nonbank finane ial Agriculture d o l l a r s ) 6.1 23.7 27.2 31.1 35.6 38.2 40.0 44.9 6.9 7.4 7.4 7.9 9.2 10.4 46.7 46.7 46.9 47.3 47.7 47.7 48.2 9.2 9.6 8.3 8.3 9.2 10.3 9.4 48.4 48.5 48.4 48.4 48.5 48.6 4/ 48.9 49.1 49.4 49.6 r 49.4 49.4 8.1 9:1 9.4 8.6 " 8.6 7.2 8.4 9.3 9.9 10.4 10.1 10.9 7.6 9.1 9.8 11.9 12.1 11.4 12.5 7.1 7.4 7.6 8.3 8.7 9.5 9.9 12.8 10.4 12.3 12.4 12.1 12.3 12.7 3/13.2(old) 13.7(new) 10.6 10.7 10.8 10.6 10.5 10.5 10.6 10.6 10.6 13.2 13.0 12.5 12.5 12.9 13.4 15.0 14.6 14.6 14.6 r 15.0 14.9 10.7 10.9 11.0 11.1 11.4 11.5 11.4 11.3 11.3 _L 1/ 2/ Estimated as of December 31. e - Estimated. p - Preliminary. r - Revised. July data are comparable with previous months. Individual loan items are gross throughout and the effect of consolidation on any one loan item was nominal. 3/ 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. 4/ Consumer credit data adjusted in July to exclude about $400 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 are also included in loans to nonbank financial institutions. NOTE: Chart has not been completely revised for changes in data relating to benchmark revisions. Overlapping data for March 1969 and October 1969 are shown. These data are not for publication. Exhibit B, Part III Loans Sold Outright To Affiliates, By Major Loan Categories, and Outstanding Loans Adjusted To Include Loans Sold (Seasonally adjusted, in billions of dollars) Business Loans Loans Loans Adjusted Sold Date Real Estate Loans Loans Adjusted Sold 1969--June July August September October November December 25 30 27 24 29 26 31 1.3 1.8 2.1 2.4 3.2 3.3 2.4 103.6 104.2 105.5 106.5 107.7 108.1 108.5 0.1 0.1 0.1 1970--January February March April May June July August September 28 25 25 29 27 30 29 26 30 4.3 4.8 5.1 5.4 6.2 6.3 6.2 5.8 3.5 3.0 2.5 1.9 109.7 110.4 0.1 0.1 October November December 1/ 28 25 31 Less than $50 million. 110.2 112.6 111.9 112.9 113.1 114.2 113.4 112.1 111.4 110.8 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 Nonbank Financial Loans Loans Adjusted Sold 68.5 68.8 69.1 69.4 69.7 70.0 70.5(old)* 70.0(new) 0.2 0.2 70.3 70.6 70.8 70.8 70.8 70.7 70.8 70.9 71.1 71.3 71.6 72.0 0.4 0.4 0.4 0.4 0.5 0.5 0.2 0.3 0.4 0.3 0.1 0.6 0.5 0.3 0.2 0.1 0.1 Security Loans Loans Adjusted Sold 13.0 12.5 12.6 12.4 12.7 13.0 13.3(old)* 13 .8(new) 13.6 13.4 12.9 12.9 13.4 13.9 15.6 15.1 14.9 14.8 15.1 15.0 1/ 0.1 0.1 0.1 0.2 0.2 0.2 1/ 1/ 9.2 9.7 8.4 8.4 9.4 10.5 9.6 0.3 0.1 0.2 0.3 0.4 0.4 0.4 47.0 46.8 47.1 47 .6 48.1 48.1 48.6 8.1 9.1 9.4 0.5 0.5 0.5 0.5 0.4 0.4 0.4 0.4 0.3 0.3 48.9 49.0 48.9 48.9 48.9 49.0 49.2 49.5 49.7 49.9 1/ 8.6 1/ 8.7 7.2 0.1 0.2 0.4 0.3 0.2 0.2 0.1 8.6 9.7 10.2 10.6 10.3 11.0 *-See footnote 3, Exhibit B, Part II NOTE: and therefore must be included in the figure "all other". Consumer Loans Loans Adjusted Sold This series begins in June 1969. 0.2 0.2 r 49" 6 49.6 Agriculture Loans Loans Adjusted Sold i/ i/ i/ i/ i/ 1/ i/ i/ i/ i/ i/ i/ i/ 1/ i/ i/ 1/ 10.4 10.6 10.7 10.8 10.6 10.5 10.5 10.6 10.6 10.6 10.7 10.9 11.0 11.1 11.4 11.5 11.4 11.3 11.3 EXHIBIT A - PART IV NONDEPOSIT SOURCES OF FUNDS AND METHODS OF FINANCE (Outstandings in billions of dollars) Euro-dollars Through branches outside U. S. Territories Date Total 12.7 16.8 19.4 19.6 19.1 19.4 20.9 19.6 10.9 14.3 15 .6 15.9 15.5 14.8 15.9 14.5 9.9 13.3 14.4 14.7 14.3 13.6 14.5 12.8 0.6 0.4 0.4 0.3 0.3 0.4 0.4 0.8 0.1 6/ 0.2 6/ 0.3 0.5 0.4 0.5 0.6 0.6 0.2 6/ 0.4 6/ 0.5 0.4 0.4 0.3 0.3 0.3 21.6 15.2 - 14.6 13.3 13.2 13.4 13.2 11.4 11.6 10.6 . 10.3 9.4 8.6 13.6 13.1 11.9 12.0 12.4 12.2 10.5 10.7 9.8 9.4 8.6 7.7 0.7 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.8 0.6 0.5 0.5 0.4 0.3 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.3 0.3 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 21.8 21.6 19.9 19.6 15 .9 14.6 13.2 11.7 5/ .6/ 7/ Direct-^ Total 21.5 20.7 20.7 2/ 3/ Foreign Through brokers and 1/ dealers Commercial paper 2/ 0.8 1.2 1.9 2.2 2.6 3.7 • 4.2 4.3 5 .6 6.1 6.5 6.6 7.6 7.6 7.8 7.3 4.6 3.7 3.1 2.3 Loans sold under repurchase agreement 3/ Customer To the To bank , , nonbank , guaranteed Ineligible acceptances paper public— Total affiliates— 1.0 1.3 2.0 1.5 0.6 0.8 0.1 0.1 0.1 0.5 0.5 0.5 1.3 0.9 0.5 0.4 0.3 0.6 0.2 0.3 0.8 0.6 0.9 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 1.0 0.9 0.8 0.8 0.8 0.8 0.8 0.7 0.7 0.7 0.7 0.6 0.6 0.6 7/ 7/ 0.7 0.7 0.7 0.7 i; 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. These Data Are Not for Publication. 0.4 0.4 0.7 r - Revised. 0.2 0.2 0.2 0.2 c - Corrected. Exhibit C Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted (In billions of dollars) 1970 1969 ! Item Nov. Dec. Jan. Feb. Mar. April May June July Aug. Sept. Oct. p N o v . p j Dec. e + 5.2 Loans and Investments 2/ + 3.6 + 0.1 - 2.8 + 1.2 + 1.2 + 2.6 + 2.4 + 0.5 + 6.4 + 5.5 + 5.4 + 0.3 + 3.3 U. S. Gov't, securities - 0.1 - 1.5 - 1.5 - 0.6 + 0.5 + 2.1 + 1.0 + 0.7 + 1.7 + 1.7 + 0.1 - 1.3 + 0.2 + Other securities + 1.1 - 0.1 + 0.2 - 0.1 + 1.6 + 1.0 + 0.5 + 0.5 + 0.5 + 1.2 + 2.1 + 2.0 + 2.4 + 2.4 Loans 2/ + 2.6 + 1.7 - 1.5 + 1.9 -0.9 - 0.6 + 1.0 - 0.6 + 4.1 + 2.6 + 3.2 - 0.4 + 0.8 + 1.2 Business + 0.3 + 1.3 - 0.7 + 0.2 - 0.5 + 0.1 + 0.5 + 0.9 + 0.3 + 1.5 + 1.5 - 0.8 r - 0.2 Real estate + 0.3 + 0.5 + 0.3 + 0.3 - 0.2 V - 0.1 + 0.1 + 0.1 + 0.2 + 0.2 + 0.5 + 0.2 + 0.1 - 0.1 1/ + 0.1 + 0.1 + 0.3-/ + 0.2 + 0.3 + 0.2 r - 0.2 y - 1.4 + 1.2 + 0.9 + 0.6 + 0.5 - 0.3 + 0.8 + 0.4 + 0.5 + 1.6 - 0.4 r + 0.4 - 0.1 + 0.2 + 0.1 +0.1 + 0.2 + 0.1 - 0.1 - 0.1 + 0.5 + 0.1 + 0.5 - 0.4 r + 0.9 + 0.1 + 2.6 - 0.9 + 1.1 + 0.4 - 0.9 + 0.8 + 0.5 Consumer 1/ Security + 1.1 - 0.9 - 1.3 + 1.0 + 0.3 Nonbank financial + 0.4 + 0.5 - 0.5 - 0.2 - 0.5 Agriculture - 0.1 1/ + 0.1 1/ 1/ - 0.8 1/ + 0.1 i/ i | 1 All other + 0.6 - 0.2 + 0.4 + 0.5 - 0.3 1/ - 0.2 - 0.7 Total loans excluding security 2J + 1.5 + 2.6 - 0.2 + 0.9 - 1.2 + 0.2 + 1.0 + 0.8 + 2.9 + 1.7 + 1.1 + 2.1 + 0.3 + 1.1 - 0.7 + 0.2 + 0.6 + 0.3 + 1.3 + 2.1 Total loans excluding security and nonbank financial 2/ Less than $50 million. e - Estimated. r - Revised. 1/ ! " 2 - 1 / 6 j r + 0.3 i p - Preliminary. Adjusted to exclude interbank loans. . . Based on consumer credit data adjusted in July to exclude about $400 million of consumer paper sold by finance companies to the banking system but classified as loans to nonbank financial institutions on bank records. Repayments in subsequent months are also included in loans to nonbank financial institutions. Individual Loan Categories Are Not Available for Publication. 1.5 + 0.4 - - 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 197 0 ^ 1969 1968 1967 1966 1965 1964-/ All commercial banks 6/ Total loans U. S. Gov't, securities Other securities Total + 9.3 + 3.2 + 3.1 +15.6 + + + + 8.6 + 1.7 + 2.0 +12.3 + 9.0 - 0.4 + 1.7 +10.4 + + + + 6.3 1.8 0.9 8.9 + + + + 7.6 0.7 1.1 9.5 + + + + 6.6 0.3 0.7 7.6 All Large Banks 5/6/ Total loans U. S. Gov't, securities Other securities Total + 7.4 + 2.1 + 2.0 +11.5 + 7.1 1/ 1/ + 7.1 + + + + 7.6 1.1 0.6 9.3 + + + + 6.3 0.3 0.5 7.1 + + + 4.4 1.7 0.4 6.0 + + + + 5.4 0.6 0.3 6.3 + + + + 4.8 0.7 0.5 5.9 Other banks 5/6/ Total loans U. S. Gov't, securities Other securities Total + + + + + + + + + + + 1.0 0.6 1.4 3.0 + + + 2.8 0.8 1.2 3.3 + + + + 1.9 0.1 1.0 2.9 + + + + 2.2 0.1 0.8 3.2 + + + 1.8 0.4 0.2 1.6 2.0 1.1 1.1 4.1 9.7 0.4 0.5 9.8 2.6 0.3 0.4 2.7 Year ended December Item 2/ 1965 2/ 1964- 1970£/ 1969 1968 1967 1966 All commercial banks 6/ Total loans U. S. Gov't, securities Other securities Total +11.0 + 6.5 +14.4 +31.9 +22.1 - 9.9 +26.9 + 2.0 +12.2 +38.9 +17.6 + 6.3 +12.7 +36.6 +17.7^- +25.3 - 3.4 + 6.1 +27.9 y|! +18.2 - 0.4 + 3.7 +21.5 All Large Banks 5/6/ Total loans U. S. Gov't, securities Other securities Total + 4.5 + 4.4 + 8.3 +17.3 +10.4 - 5.6 - 3.1 + 1.7 +16.7 + 0.5 + 5.3 +22.5 + 8.7 + 3.6 + 7.3 +19.5 + 9.6 - 0.8 + 1.8 +10.6 Other banks 5/6/ Total loans U. S. Gov't, securities Other securities Total a +15.5 - 3.3 + 2.6 +14.8 + 6.5 + 2.1 + 6.0 +14.6 +11.7 - 4.3 + 3.1 +10.5 +10.2 + 1.5 + 4.8 +16.4 + 8.9 + 2.7 + 5.4 +17.0 3^4/ + 9.8 + 8.3— - 0.1 - 1.40 + 3.5 +13.1 +10.2- + 8.6 + 0.4 + 1.9 +10,9 NOTE: 1/ 2/ 3/ 4/ 5/ 6/ 1/ +10.1 + 9.4— Data exclude all interbank loans; Call report data for large commercial banks used when available. Less than $50 million. Based on estimated data for December 31, 1970 and December 31, 1963. Allowance has been made in monthly changes in total loans and in other securities for approximately $1 billion of participation certificates shifted from loans to other securities in late June 1966: $700 million at large banks and $300 million at other banks. Allowance has been made in monthly changes in total credit and in total loans for the $lol billion of balances accumulated for the payment of personal loans excluded from time deposits and from loans on June 9, 1966: $400 million at large banks and $700 million at other banks. Based on revised coverage beginning July 1966; January 1967, 1968, 1969, and 1970. Based on revised reporting beginning July 1969. Changes have been adjusted to maintain comparability of series. Exhibit E Changes in Commercial and Industrial Loans at Large Commercial Banks (In millions of dollars) Late November to late December 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 _3/ Communication 3/ Other public utilities Construction All other types of business Bankers acceptances Services 3/ Other Foreign business concerns Classified Unclassified Total change 1/ 2/ 3/ + + 400 162 448 459 11 + 8 59 + 29 44 + 82 182 42 + 96 + 108 —8 4 + + 111 88 + 43 + 20 68 + +1 ,118 + 630 + 304 + 184 65 + 4-1,312 + 320 +1 ,632 + + 333 109 151 13 138 + 870 + 137 + 412 + 284 37 + 159 86 + + 135 + 135 90 + 79 + + 976 + 298 + 258 + 420 21 + + 909 + 280 + 247 + 382 15 +3 ,418 + 114 4-3,532 + + 172 25 209 284 75 + + 110 123 + 231 37 + 35 88 30 + + 282 5 + 28 + 673 + 716 + 274 + 138 + 304 1 + + 772 2 + + 378 + 392 13 + + 2 ,474 + 276 4-2 ,750 1966 1970 181 15 294 279 15 + 265 12 + + 175 + 105 27 126 86 79 + 43 + 27 + 344 4375 4n • a. n .a. n • a. 33 207 490 4n .a * 117 4n • a. + 1 ,000 105 895 4- 149 189 3 135 + 132 234 61 4497 + 297 95 19 192 65 39 486 834 -1 ,184 264 4231 -1 ,217 269 44-1 , 342 983 4378 419 + 171 756 704 452 1967 1968 1969 1970 p Business of borrower + + 182 94 146 225 79 + + 187 + 172 19 + 28 24 + 159 9 80 + 6 + 67 + + 854 + 490 + 276 2 + 216 3 + 618 39 + 192 + 465 22 + 4-2 ,283 + 274 + 2 ,557 Late December to late December 1/ + + - 4- 1969 44- 276 206 4342 4144 + 198 +2.708 4194 +1,317 + 712 + 153 + 150 + 115 + 362 + 332 + 314 + 126 +1,610 + 556 + 360 + 694 + 224 +2.220 +1,044 20 +1,196 - 356 +7,955 + 374 +8,329 1967 1966 38 200 143 21 + 164 + 742 + 540 + 257 183 + 128 113 + 128 + 226 33 + + 256 + 359 +1 ,077 + 701 + 227 + 149 93 +1 >617 + 668 + 168 + 781 132 +4 ,481 + 590 +5 ,071 + 419 + 12 + 671 + 408 + 263 +2.428 + 98 +1,260 + 832 + 238 + 276 + 2 + 486 + 474 + 373 + 526 +1,141 n. a. n.a. n. a. + 16 + 248 168 n.a. + 416 n.a. +7,072 + 511 +7,583 1968 + 219 + 279 + 824 + 510 + 314 +1.096 + 515 + 319 + 108 + 154 + 438 + 49 + 142 + 187 + 42 + 527 +1,408 + 773 + 180 + 455 + 425 +1,605 - 475 + 980 +1,100 - 146 +6,537 + 678 +7,215 2/ + + + Five most comparable weeks used throughout. Changes are compiled from December 31, 1969; December 25, 1968; December 27, 1967; December 28, 1966; and December 29, 1965. These data cannot be linked with all commercial bank data which are always for December 31. Prior to 1967, transportation, communication, services, and foreign loans were not reported separately. Exhibit F Loans and Investments at All Commercial Banks (In billions of dollars) Date 1964—Dec. 1965—Dec. 1966—Dec. 1967—Dec. 1968—Dec. 31 31 31 30 31 1969—Jan. 29 Feb. 26 Mar. 26 Apr. 30 May 28 June 30 e(old) June 30 (new) 3/ July 30 Aug. 27 Sept.24 Oct. 29 Nov. 26 Dec. 31 (old) Dec. 31 (new) 1970—Jan. 28 Feb. 25 Mar. 25 Apr. 29 May 27 June 30 July 29 Aug. 26 Sept.30 Oct. 28 p Nov. 25 p Dec. 31 e Loans and investments U. S. Gov't. Other securities Total loans 273.9 301.8 317.9 1/ 354.5 393.4 63.0 59.5 56.2 62.5 64.5 38.8 44.9 48.8 2/ 61.5 71.5 172.1 197.4 213.0 1/2 / 230.5 257.4 385.0 384.1 385.4 391.5 390.2 396.4 401.3 397.7 394.7 396.5 397.2 400.7 410.5 63.2 59.5 58.5 58.0 55.4 54.0 54.0 54.7 54.3 53.2 54.4 55.1 54.7 70.5 70.9 71.4 72.3 71.8 72.6 72.4 71.3 70.9 71.2 70.4 70.9 71.3 251.3 253.7 255. < 261.2 263.0 269.8 274.9 271.7 269.5 272.1 272.4 274.7 284.5 397.6 395.7 399.0 403.5 403.9 410.1 412.6 415.4 423.3 423.6 426.8 442.4 53.0 " 51.4 51.5 52.3 52.6 51.6 53.5 55.1 55.8 57.1 58.0 61.2 70.6 70.8 72.7 74.3 74.3 75.6 75.7 77.1 79.5 81.0 82.6 85.7 274.0 273.5 274.8 276.9 277.0 282.9 283.4 283.2 288.0 285.5 286.2 295.5 Business 60.2 71.4 80.6 88.5 98.4 96.5 97.7 99.7 101.6 101.8 104.5 104.5 103.1 102.0 103.8 103.6 104.4 108.8 104.1 104.1 105.0 105.6 105.3 c 108.6 107.3 107.0 109.6 108.2 r 108.5 111.7 Real estate Security Farm 43.7 49.3 54.0 58.5 65.1 8.4 8.5 9.0 10.5 11.8 65.6 66.1 66.6 67.2 67.8 68.4 68.4 68.8 69.3 69.7 70.0 70.3 70.5 4 / 70.0* 9.5 9.5 8.8 9.4 9.0 10.3 10.3 9.7 8.1 8.2 8.6 9.4 10.7 9.7 10.0 10.1 10.3 10.4 10.6 10.6 10.7 10.7 10.6 10.5 10.4 10.3 8.2 8.3 8.8 8.8 8.6 7.9 8.6 9.1 9.6 9.7 9.7 12.5 10.4 10.5 10.6 10.8 11.1 11.2 11.3 11.4 11.4 11.3 11.2 11.1 70.1 70.1 70.1 70.2 70.3 70.6 70.8 71.0 71.4 71.6 r 71.9 72.1 Consumer 31.0 35.7 38.3 40.0 44.9 7.5 8.2 8.6 2/ 9.3 9.7 44.9 44.9 . 45.2 45.8 46.4 46,9 46.9 47.2 47.4 47.7 47.8 47.8 48.2 c c c r 48.0 47.8 47.8 48.1 48.4 49.0 49.3 49.6 49.8 49.8 49.5 49.5 Nonbank financial institutions All other 10.9 13.3 13.3 12.5 13.7 13.9 15.0 13.6 1/ 15.9 18.9 12.1 12.5 12.3 13.3 12.7 13.7 13.7 12.4 12.1 12.4 12.0 12.2 14.6 # / 15.1 - / 18.2 18.2 18.1 18.8 19.8 20.4 20.5 19.9 19.8 19.8 20.0 20.2 21.3 12.7 12.4 12.2 12.7 12.3 14.4 14.9 14.3 15 .2 14.4 r 14.6 16.4 r 20.6 20.3 20.3 20.7 21.0 21.3 21.2 20. a 21.1 20.5 20. 7 22.2 1i n A V p -mm Preliminary. _ e - Estimated. r - Revised. NOTE; Data exclude interbank loans. Consumer and "other loans" are partly estimated for all dates. Other data are partly estimated on all but June and December call dates. 1/ Beginning June 9, 1966, $1.1 billion of balances accumulated for the payment of personal loans were deducted from time deposits and "all other" loans. 2/ 3/ 4/ 5/ Beginning June 30, 1966, about $1 billion of participation certificates previously included in agricultural and "all other" loans were reclassified as "other securities." Data revised to include all bank premises subsidiaries and other significant majority-owned domestic subsidiaries; earlier data are for commercial banks only. Also, total loans and investments are now reported gross of valuation reserves rather than net as previously. Individual loan items have always been gross. 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 $400 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 are also' included in loans to nonbank financial institutions. http://fraser.stlouisfed.org/ # Reserve Bank ofeSt. Louis Federal ' Indiv id aa-1-loans -category-tteta ~aiu available for publication only on a June and December Call data basis . # e e # # e # • "e Exhibit G Ratios to Total Deposits 1/ L O A N S D A T E All commercial banks .Total 1955—Dec. 1956--Dec. 1957--Dec. 1958--Dec. 1959--Dec. 1960--Dec. 1961--Dec. 1962--Dec. 1963--Dec. 1964--Dec. 1965--Dec. 1966--Dec. 1967--Dec. 31 31 31 31 31 31 31 28 25 31 31 31 30 M e m b e r B a n k s Reserve City Banks New York City of City Chicago Other Country U.S. Government securities maturing within one year All commerc ia1 blinks 45.8 48.8 49.7 48.4 54.0 55.1 54.5 56.5 58.6 60.5 63.7 65.8 63.8 46.7 50.1 51.0 49.4 55.6 56.5 55.7 57.7 59.9 61.9 65.4 67.9 65.8 56.7 61.7 61.9 57.7 67.3 65.9 65.0 67.9 67.4 69.3 75.9 83.5 79.9 46.3 52.7 55.2 49.4 58.2 60.8 58.0 61.4 62.1 64.4 70.2 77.0 70.8 48.5 52.7 53.3 51.3 58.2 59.0 57.7 60.1 63.3 65.0 68.7 70.2 68.1 40.7 42.6 44.1 44.4 48.2 50.3 50.2 51.7 53.8 56.0 57.9 59.2 58.2 5.1 7.5 8.4 8.3 7.4 8.7 11.2 9.5 7.5 8.0 7.3 6.1 6.4 1968--Sept. Oct. Nov. Dec. 25 30 27 31* 66.0 65.4 66.0 64.7 (63.7) 68.1 67.4 68.3 66.8 87.5 85.7 87.9 83.5(76.3) 76.6 74.4 76.4 75.1 69.6 69.3 70.6 69.1 59.5 59.0 59.2 58,2 5.5 6.5 5.7 6.1 1969--Jan. Feb. Mar. Apr. May 2/ June July Aug. Sept. Oct. Nov. Dec. 29* 26* 2 6* 30* 28* 30* 30* 27* 24* 29* 26* 31* 66.2 67.4 68.1 70.2 69.9 72.1 73.0 72.9 72.9 72.8 73.0 72.0 68.4 69.7 70.5 70.9 72.6 75.4 76.3 75.3 76.4 76.1 76.4 75.7 86.1(76.0 71.0(79.7) 94.1(80.9) 94.4(80.2) 99.7(84.9) 106.5(87.0) 110.9(88.6) 106.0(84.0) 108.0(86.3) 112.0(85.0) 106.2(85.9) 102.8(86.4) 77.1 80.1 83.8 83.1 85.5 90.9 91.8 94.2 97.5 96.2 93.6 89.5 71.4 72.1 72.9 73.4 75.0 78.3 78.8 78.8 79.4 78.9 80.3 79.5 59.2 59.8 60.2 60.3 61.4 62.5 63.2 63.6 63.3 63.4 63.3 62.8 6.0 5.4 5.7 5.0 4.6 4.5 4.5 4.7 4. 6 4.3 5.2 5.0 (64.7) (65.9) (66.4) (68.5) (68.1) (69.7) (70.3) (70.1) (70.4) (70.3) (70.3) (69.8) i : 1970--Jan. 28* 73.2 (70.6) 76.5 102.9(84.5) 92.6 4.7 81.3 63.7 Feb. 25* 73.4 (70.9) 76.7 103.9(86.3) 93.8 81.0 4.4 63.9 80.4 Mar. 25* 73.0 (70.8) 76.3 103.1(86.8) 92.2 5.2 63.8 4.8 63.7 79.9 Apr. 29* 72.7 (70.5) 76.0 102.6(86.4) 91.5 May 27* 72.9 (70.6) 76.1 103.7(86.5) 91.5 80.0 64.0 " 4.6 June 30* 71.8 (70.3) 72.5 104.8(87.2) 95.8 80.0 4.3 60.5 4.8 97.6(84.0) 88.0 63.6 78.6 July 29* 72.0 (70.2) 74.8 , 76.7 62.9 Aug. 26* 71.1 (69.2) 73.8 98.0(84.1) 88.1 5.0 Sept. 30* 70.2 (68.3) 72.6 93.7(81.8) 86.5 75.6 62.2 Oct. 28*p 69.6 (68.1)' 72.1 93.4(81.9) 85.6 62.0 5.1 75.0 5.1 Nov. 25*p 69.2 (67.9) 71.8 94.3(83.3) 85.7 74.1 61.8 60.7 73.4 Dec. 30*o 68.0 (66.8)11 70.5 90.2(81.8) 83.5 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). 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. * " Ratios in parenthesis are those obtained by adding Euro-dollars to the deposit base. L.4.3-EXHIBITH, PARTI DEPOSITS AND CURRENCY AND TURNOVER OF DEMAND DEPOSITS S e a s o n a l l y a d j u s t e d . D e p o s i t s , a v e r a g e of d a i l y f i g u r e s . T u r n o v e r , m o n t h l y . A n n u a l rate B i l l i o n s c/ d o l l a r s 55 1 I 1II 11 I I I ! •Tii - A 50 TIME AND SAVINIQS DEPOSITS / ALL COMMERCIAL BAiNKS i i M M yi if 205 / — 45 189 MONE^f S U P P L Y / 7 in - A / TURNOVER ( OUTSIDE N.Y.C. 2 3 2 SMSA'S V \fvl 40 165 - 35 10 145 10 U.S. GOVT. DEPOSITS MEMBER BANKS 1 1 1 1 1 1 1 1 1 1 1 1966 * CHANGE IN SERIES. 1967 1968 1969 1 1 1 1 1 1 1 1 1 1 1 1970 0 Exhibit H P e r i o d Total - Part II S e a s o n a l l y A d j u s t e d D a t a (Dollar amounts in billions) Time and _1/ M o n e y S t o c k U.S. Gov't. v savings 2/ deposits deposits Demand deposits (all member) 1/ Currency (All commercial) 5.4 6.7 4.8 5.9 5.9 4.0 2.4 2.9 4.4 3.1 5.6 4.9 46.2 46.9 46.1 47.2 47.5 48.4 49.4 49.7 50.9 50.6 49.4 49.2 8,545 8,822 9,877 9,436 9,868 13,269 14,434 14,658 14,349 13,648 14,574 12,822 193.3 193.5 195.3 198.5 200.3 202.2 208.2 213.2 218.5 222.2 225.0 230.3 5.3 5.6 5.9 5.2 3.0 4.8 4.4 6.4 6.2 5.2 6.0 6.1 50.6 52.0 50.3 52.2 53.4 52.9 53.7 52.6 53.1 53.6 51.7 n.a. 13,623 13,094 11,942 11,973 12,373 12,220 10,514 10,733 9,787 9.439 8,585 7,669 227.2 228.8 229.7 231.6 232.1 5.3 7.1 5.6 7.6 6.0 n .a. n .a. n .a. n.a. n.a. 8,394 8,215 8,305 7,896 7,669 126.3 131.7 133.4 142.7 154.0 34.2 36.3 38.3 40.4 43.4 126.6 146.7 158.5 183.7 204.8 5.1 4.4 3.5 4.6 4.2 1969—January February March April May June July August September October November December 198.1 199.3 200.1 201.0 201.6 202.4 203.1 202.6 202.8 203.2 203.5 203.6 154.5 155.5 156.0 156.8 157.1 157.6 158.1 157.4 157.6 157.6 157.6 157.7 43.6 43.8 44.1 44.2 44.5 44.8 45.0 45.2 45.3 45.6 45.9 46.0 203.7 203.2 202.5 202.1 201.7 201.2 198.1 195.4 194.8 194.2 194.0 194.6 1970--January February March April May June July August 205.2 204.5 206.6 208.3 209.2 209.6 210.6 211.8 212.8 213.0 213.5 214.6 159.0 158.1 159.8 161.2 161.6 161.9 162.5 163.7 164.6 164.5 164.8 165.7 46.2 46.4 46 .7 47.1 47.7 47.8 48.1 48.2 48.2 48.5 48.7 49.0 214.5 214.2 215.3 213.5 214.8 165.9 165.4 166.3 43.6 48.9 49.0 49.1 49.1 2 9 16 23 30 p 164.4 165.7 Gross liabilities of U.S. banks to 3/ ; their foreign branch; 1,183 1,345 4,036 4,241 6,039 160.5 168,0 • 171.7 183.1 197.4 Week ending: 1970-- Dec* Turnover outside N.Y. City* (per cent) 33.5 37.4 40.1 40.6 44.8 1964--December 1965--December 1966--December 1967—December 1968—December September October November December p Not Seasonally Adj. (In mil. of dollars) ' i 1V 2/ Averages of daily figures. Beginning on June 9, 1966, time deposit 3/ Last Wednesday 4/ of m o n t h . data exclude $1.1 billion of balances accumulated for the payment of personal loans . Certain changes in coverage and definitions have occurred that affect somewhat the comparability of the data. small however. * - Beginning January 1964, data for 232 metropolitan centers outside New York City. p - Preliminary. Breaks in the series are relatively L . 4 . 3 - E X H I B I T I, P a r t : TIME AND SAVINGS DEPOSITS AT LARGE COMMERCIAL BANKS B i l l i o n s of d o l l a r s Wednesday figures 120 TOTAL TIME AND SAVINGS DEPOSITS 100 CONSUMER-TYPE TIME AND SAVINGS 80 60 SAVINGS DEPOSITS 40 CONSUMER TYPE TIME DEPOSITS 20 NEGOTIABLE CD's STATE AND POLITICAL, FOREIGN OFFICIAL ETC D 1967 M J 1968 S D M J 1969 S D M J 1970 S D EXHIBIT I - Part II Period Total Consumertype time & savings Time and Savings Deposits State Political Large ConsumerFor. official Negotiable type Savings etc . CD's 1/ time 1966—Dec . Dec. 1967—Dec . Dec. 1968--Dec. Dec. 28 28 27 27 21 31 (old) (new) 2/ (old) (new) 2/ (old) (new) 2/ 89,495 89,639 102,809 102,991 111,900 112,103 65,733 65,864 73,686 73,858 79,443 79,637 47,099 47,213 48,647 48,781 49,016 49,161 18,634 18,561 25,039 25,077 30,427 30,476 15,659 15,642 20,330 20,330 22,821 22,820 8,103 8,133 8,793 8,803 9,636 9,646 1969--June June July Aug. Sept. Oct. Nov. Dec. Dec. 25 25 30 27 24 29 26 31 31 (old) (new) 2/ 103,967 103,959 100,602 98,998 97,899 97,238 96,333 96,589 96,787 79,619 79,604 78,784 78,189 78,140 77,795 77,241 77,616 77,812 47,550 47,550 46,953 46,688 46,533 46,376 46,334 46,486 46,632 32,069 32,054 31,831 31,501 31,607 31,419 30,907 31,130 31,180 15,270 15,271 13,538 12,616 11,744 11,524 11,319 10,919 10,919 9,078 9,084 8,280 8,193 8,015 7,919 7,773 8,054 8,056 1970—Jan. Feb. Mar. Apr. May June July Aug. Sept. 28 25 25 29 27 24 29 26 30 95,019 95,622 97,352 99,281 99,470 99,676 106,494 109,725 113,640 76,500 76,400 76,876 76,702 76,995 77,348 78,435 79,070 80,722 45,831 45,632 45,996 45,888 46,077 46,174 46,345 46,330 46,808 30,669 30,768 30,880 30,814 30,918 31,174 32,090 32,740 33,914 10,471 10,864 11,820 13,046 13,004 12,976 17,900 20,174 22,242 8,048 8,358 8,656 9,533 9,471 9,352 10,159 10,491 10,676 Oct. 28 Nov. 25 114,803 116,447 81,150 81,554 47,016 47,332 34,134 34,2.22. 23,545 25,201 10,108 9,692 Week ending: 1970—Dec. 2 9 16 23 30 116,440 117.333 118,040 118,860 119,347 81,757 81,990 82.158 82,436 82,681 47,472 47,566 47,609 47,704 47,926 34,285 34,424 34,549 34,732 34,755 25,053 25,747 25,538 25,895 26,098 9,630 9,596 10,344 10,529 10,568 (old) (new) 2/ 1_/ Negotiable certificates of deposit http://fraser.stlouisfed.org/ 2/ Estimated. Federal Reserve Bank of St. Louis issued in denominations of $100,000 or more. Exhibit J Member Bank Reserves (Based on averages of daily figures; in millions of dollars) Free reserves (excess reserves minus borrowings) D A T E All member Reserve City Banks New York City of City Chicago Excess Reserves Country Other Total reserves held seasonally adjusted Borrowings All member All member All member 18,512 18,839 19,640 20,343 21,017 22,068 23,262 23,521 25,940 28,139 28,060 27,972 27,775 28,235 28,056 27,530 27,401 27,402 27,354 27,783 27,928 Monthly Averages: 1959--December I960--December 1961--December 1962--December 1963--December 1964--December 1965--December 1966--December 1967--December 1968--December 1969--Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. -424 669 419 268 209 168 2 -165 107 -310 -109 10 - 50 - 62 19 - 14 - 70 - 95 - 22 -104 4 - 22 - 11 21 - 31 8 - 50 5 -130 - 70 -480 -596 -701 -844 -1,102 - 60 - 67 - 44 -117 - 89 -1,064 -1,074 -946 -831 -992 -988 -829 - 28 - 66 - 52 - 64 -126 -143 -203 - 49 - 33 -101 -116 -148 8 - 15 - 47 - 37 - 26 - 67 9 1970--Jan. -799 -132 - 82 Feb. Mar. Apr, May June July -819 -781 -704 -795 -701 - 76 -148 -198 -171 - 95 -260 -156 - 56 - Aug. Sept. Oct. Nov. Dec. p , -1,217 -682 -335 -208 -305 - 62 29 - 63 14 58 15 82 25 3 -132 - 67 8 - 13 - 12 3 -449 80 20 - 52 -122 -103 -161 -159 - 55 -180 237 583 471 394 334 315 238 140 187 482 756 568 572 536 411 452 392 345 70 455 906 87 149 304 327 243 454 557 238 765 -337 -403 -456 -521 -538 -34 -93 -100 -90 -327 217 228 217 152 300 697 824 918 996 1,402 -649 -611 -396 -447 -558 -525 -473 -395 -382 -451 -283 -282 -253 -144 343 116 303 236 143 253 257 1,407 1,190 1,249 1,067 1,135 1,241 1,086 -473 -473 -501 -400 -447 -487 -726 -428 -337 -289 -35 9 -237 ! -112 166 965 -212 -117 - 24 -152 -122 - 99 - 31 66 273 115 118 181 187 141 145 272 1,092 896 822 976 888 1,358 827 607 65 129 158 254 120 259 462 424 321 : NOTE: Total reserves reflect percentage reserve requirements made effective April 23, 1969. r - Revised. _ i 27,964 28,001 27,722 27,723 28,216 27,890 27,902 28,041 28,585 29,240 29,385 29,474 29,913 I L exhibit k # # a Liquid Assets Held by the Public - Seasonally Adjusted Series U (Amounts in billions of dollars; ratios expressed as percentages) Time deposits End of year or month Total 1 Demand deposits and currency 2/ 2 Commercial banks 3/ 3 Mutual savings banks 4 5 1954 1955 1956 1957 1958 1959 1960 1961 1962 1963 1964 1965 1966* 1967 1968 320.3 332.5 343.2 356.0 373.1 393.9 399.2 424.6 459.0 495.4 530.5 573.1 601.5 650.4 709.6 130.2 133.3 134.6 133.5 138.8 139.7 138.4 142.6 144.8 149.6 156.7 164.1 168.6 180.7 § 199.2 48.2 49.7 52.0 57.5 65.4 67.4 73.1 82.5 98.1 112.9 127.1 147.1 159.3 183.1 203.8 26.3 28.1 30.0 31.6 33.9 34.9 36.2 38.3 41.4 44.5 49.0 57.6 55.2 60.3 64.7 2.1 1.9 1.6 1.3 1.1 0.9 0.8 0.6 0.5 0.5 0.4 0.3 0.1 1969 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 703.7 705.7 713.2 711.3 714.3 713.8 709.5 713.2 718.1 714.9 722.1 731.6 188.8 189.9 192.4 190.8 191.6 194.2 191.9 193.3 194.1 194.0 195.8 206.8 203.4 202.9 201.9 201.8 202.7 200.4 197.5 195.6 195.5 195.7 197.9 197.1 64.8 65.2 65.5 65.7 66.1 66.3 66.3 66.4 66. 6 66.7 67.0 67.3 —— 720.5 721.8 733.4 731.2 • 734 .0 738.5 749,7 . 750.8 76 5.4 76 4.5 773.5 195.4 194.8 199.3 196.7 197.9 199.8 198.7 199.3 203.6 196.0 196.7 198.8 201.5 201.7 202.9 211.8 . 215.4 c 221 j 224.5 67.0 67.4 67.5 68.0 68.4 68.7 69.2 . 5,9.4 69.9 70.4 r 70.9 71.2 —— 1970 Jan. Feb. : Mar. Apr . May June Julv Aug; Sept. Oct. p Nov. p Dec. p r : ! r ' r ; r : 7 3 7.9 r l99.* , r 201.1 208.1 230.3 233.7 U. S. Gov't, Savings and loan U. S..Gov't, securities savings maturing deposits bonds 5/ within one and year 6/ shares Postal Savings System -— -— -— — - -— — — -— — — —— —— - - — - — 1 6 1 8 7 30,6 31.6 33.2 38.8 35.6 48.8 41.9 42.6 46.8 48.1 46.1 48.6 53.9 50.5 58.5 27.2 32.0 37.0 41.7 47.7 54.3 61.8 70.5 79.8 90.9 101.4 109.8 113.4 123.9 131.0 55.6 55.9 54.8 51.6 50.5 47.9 47.0 47.4 47.6 49.0 49.9 50.5 50.9 51.9 52.5 131.0 132.0 133.4 133.3 133.5 133.6 133.6 134.1 135.3 134.9 135.3 134.8 52.5 52.3 52.2 52.2 52.2 52.2 52.2 52.1 52.0 52.0 52.0 52.4 63.4 63.4 67.7 67.5 68.3 67.3 68.1 71.6 74.6 71.7 74.2 73.2 133.5 134.1 135.7 136 .4 136.8 137.4 139.0 140.0 - 142.3 143.4 r 144.6 145.7 52.2 52.1 52.0 52.0 52,0 52.0 52.4 52.0 52.1 76.3 76.6 80.1 76 .8 77.2 77.7 78.5 r 74.6 r 76.0 52.1 52.2 52.7 74.5 r 74.3 76.4 ' i Ratios: Dtgmartd de~ £ r Commercial posits and bank deposits currency to and currency to gross nation- liquid assets (2 + 3 t 1) al product 7/ 10 .11 Liquid assets ~ to gross national product 7/ 9 85.3 81.3 79.7 80.5 79.5 80.2 79.0 78.4 79.5 81.0 81.5 79 o 8 77.6 78.7 78,2 34.7 32.6 31.3 30.4 29.7 28.6 27.5 26,4 25.1 24.6 24.1 22.8 21.8 21.8 21.4 78.0 ' 21.2 77.2 20.8 75.7 20.5 75.8 20.8 : * * , > 55.7 55.0 54.4 53.6 54.8 52.6 53.0 53.0 52.9 53.0 53.5 54.3 54.5 55.9 56.8 55.7 55.7 55.3 55.2 55.2 55.3 54.9 54.5 54.3 54.5 54.5 55.2 54.3 54.2 " 54.3 - 54.5 54.4 54.5 54.8 . ,r 55.2 ' SS.5 . 75.7 - 73.6T ' ' 20,6 20:4 ' ?n:3 | ' 78.0 ^^20.5 '0 r 55.4 55.7 j.... 56 ^ -1 For footnotes see next %>age. " r - Revised P ~ P-reliminary. ^ ~ ~ ~ — — * - Beginning with data for June 1966, total liquid assets and time deposits at commercial banks exclude $1.1 billion of balances accumulated for the payment of personal loans. : Tuesday, December 31, rather Lhan for the last Wednesday of December. assets and U.S. Government securities maturing withii 1 year revised beginning January 19j9 to conform to new Budget concept. increased by $1.7 billion on that date. § - Figures are for NOTE: Total liquid http://fraser.stlouisfed.org/ figures were Federal Reserve Bank of St. Louis Both Exhibit K (Continued) 1. Excludes holdings of the United States Government, Government agencies and trust funds, domestic commercial banks, and Federal Reserve Banks. Adjusted to avoid double counting whenever possible. All series adjusted for seasonal variation by the X-9 variant of Method II developed by the Bureau of the Census. 2. Data are for demand deposits adjusted and currency outside banks and are as of the last Wednesday of the month. In concept the figures agree with the daily average money supply described in detail in the Federal Reserve Bulletin for August 1962,p. 941, 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 in Alaska and Hawaii are included beginning January 1959 and August 1959, respectively, except that one national bank in Alaska and one national bank in Hawaii were included in April 1954 and April 1959, respectively . Demand deposits due to banks in United States possessions are included throughout. Data have not been revised to conform with the daily average money supply revision (beginning June 1967) associated with Euro-dollar transactions. 3. 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. 4. 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. 5. 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 1960, the earliest date for which separate figures for these institutions are available. Figures are from data compiled by the U. S. Treasury Department. 6. 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 1960, savings and loan associations. Figures have been adjusted to 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. 7. 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. fout dates (each month of the current quarter and the last month of the preceding quarter) . http://fraser.stlouisfed.org/ e Reserve Bank of#St. Louis Federal e • • • • • • - j
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