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9
0
„t£
BAHKIHG AHH MOKETABY DETTELOPMEHTS IN JUHE I960
A.
f&BE credit. Total loans and Investments at all commercial banks
lncreaaa£j9700 million in June, a slightly larger rise than in June of most
othegtWcent years of high level economic activity. Loan growth was
mqgejwte, but holdings of U. S. Government securities declined less than
in most other recent years. Holdings of other securities rose slightly,
after declining in most earlier months of the year.
So far this year, total credit at all commercial banks has declined
$2.8 billion, considerably more than usual. During the first quarter total
loans and investments dropped half again as much as in the comparable period
of any previous year, but in the second quarter, credit growth exceeded that
of any other year of high level economic activity. Over the January-June
period, loan expansion of $2.7 billion was less than in other recent years*
Loans declined in the first quarter but growth In the second quarter equaled
or exceeded that of all other years except the unusually sharp rise of 1959.
Holdings of XJ. S. Government securities declined $4.8 billion, somewhat less
than usual for the period, with most of the decline occurring in the first
quarter. Other securities also declined in the first half, whereas generally
they have increased.
The January-June credit reduction at reporting city banks was large,
although expansion in loans and the reduction in holdings of U. S. Government
securities were much smaller than usual. At banks outside leading cities,
total credit declined whereas it usually increases. Loan growth was larger
than in most other recent years but the reduction in holdings of U. S. Government securities was greater.
Business loans (excluding loans to finance companies and other
financial businesses) increased $700 million in June, less than in June of
any other recent year of sustained business activity. Tax borrowing was
smaller than in other recent years and reflected both smaller corporate tax
payments owed and a larger proportion of these payments covered by maturing
tax anticipation securities. Loans to metals processors and to public
utilities showed the largest increases among the industrial categories in
June, but expansion was less than in other years. Loans to trade concerns
increased only slightly further following substantial growth earlier in the
year.
So far this year business loans have increased almost $2 billion,
about the same as in the conparable period last year but much less than the
sharp 1956 rise. Loans to metals fabricators increased more than in the
comparable period of any other recent year except 1956, reflecting the
rebuilding of inventories following the steel strike. Loans to textile
manufacturers and trade concerns rose in record volume. Loans to food
processors declined about the usual amount while those to commodity dealers,
which had risen much more than usual in the last half of 1959, declined more
than usual In the first half of this year. Loans to petroleum producers and
Not for publication
public utilities declined but less than in the comparable period of 1959;
in 1955 and 1956 they had increased substantially.
Loans to ncmbank financial institutions at all commercial banks
increased about # 0 0 million In June, associated largely with tax related
borrowing by sales finance conpaniee. So far this year, these inana have
shown little change, compared with relatively substantial growth in 1959
and 1955.
Loans for purchasing and carrying securities increased about $100
million over June. A sharp rise in loans to brokers and dealers for
purchasing and carrying U . S . Government securities in mid-June probably
associated In part with sales by colorations to obtain funds for tax payments was largely offset by reductions at other times. Security loans have
declined over $1 billion so far this year, considerably more than usual.
Consumer loans at all commercial banks are estimated to have
increased $300 million further in June bringing the increase since December
to $1 billion, somewhat less than the record 1959 growth but about in line
with 1955 and 1956. Real estate loans declined slightly further at city
banks In June but probably continued to increase moderately at other banks.
The $^00 million expansion at all commercial banks in the January-June period
was much less than usual.
Deposit ratios. The ratio of total loans to total deposits at all
commercial banks rose slightly further in June to 57.1 per cent. Batios
increased to new postwar peaks at reserve city and country banks but declined
at central reserve city banks in New York and Chicago. The ratio of U. S.
Government securities maturing within one year to total deposits at all
commercial banks dropped further in May (latest data available) to k.k
per cent, but is still slightly above early 1956 levels.
Deposits and currency. Seasonally adjusted demand deposit and
currency holdings of businesses and individuals increased $600 million in
June. The growth reflected in part slightly larger-than-usual expansion
in commercial bank credit and heavier Federal Be serve purchases of U. S.
Government securities than have occurred In other recent years. At the
end of June the money supply was about $2.7 billion or almost 2 per cent
below last year's level.
The June increase followed a seasonally adjusted decline in the
money supply of $1.8 billion in May associated with an unusually sharp
build-up in U. S. Government deposits which rose $2.4 billion. U. S.
Government deposits Increased slightly further in June, whereAs they
usually, decline in this month. At the month-end, TJ. S. Government deposits
were $2.6 billion above last year's June level.
Seasonally adjusted semi-monthly averages of daily demand deposits
adjusted at member banks are estimated to have declined |£00 million between
the second half of May and the second half of Jane. In the comparable period
a month earlier these deposits had declined $1.3 billion. So far this year,
Not for publication
the reduction has totaled $2.1 billion, slightly more than the drop in
these deposits at all commercial banks shown in the last-Wednesday series.
Time deposits at all commercial banks increased about $1 billion
further in June bringing the first half year growth to $1.6 billion.
Following a sharp decline in January, these deposits have been increasing
more than in other recent years. On the other hand, deposit growth at
mutual savings banks, which totaled $400 million in the January-June
period has been considerably less than usual.
Deposit turnover. The seasonally adjusted annual rate of demand
deposit turnover at banks outside New York and other financial centers
declined to 26.2 times in June from 26.3 in May. The June level was about
6-1/2 per cent above that of June a year ago.
Liquid assets held by the public. Public holdings of major liquid
assets, seasonally adjusted, declined by about $3-l/2 billion in May after
expanding $2 billion over the first four months of this year. Substantial
declines in May in holdings of U. S. Government securities maturing within
one year and in demand deposits and currency were only partly offset by
further growth in personal type savings, almost entirely in the form of
savings and loan shares.
Member bank reserves. Free reserves of all member banks averaged
$35 million in June compared with net borrowed reserves of $35 million in
May. The reserve position of member banks had shifted to one of free
reserves in late May where it remained through June. Free reserves ranged
from a nominal level to about $80 million between late May and early July.
Borrowings averaged $425 million in June, about $480 million below the late
1959 level while excess reserves averaged $460 million, slightly below the
December level.
During June, on a daily average basis, reserves were supplied
principally by an increase of $305 million In Federal Reserve holdings of
U. S. Government securities; outright purchases were somewhat larger than
this but holdings under repurchase agreements were reduced. Funds also
became available through an increase in Beserve Bank float. Reserves were
absorbed through currency outflow, through gold and foreign operations, and
through changes in other factors. Required reserves increased $55 million.
They increased moderately early in June and sharply around the mid-month
tax date; toward the end of the month they declined somewhat.
Total reservest seasonally adjusted. A table on total member bank
reserves (Table 7)> seasonally adjusted and unadjusted, along with the seasonal
factors, is included for the first time this month. These data, developed
at the Board, are on a monthly basis beginning in 1947; current data will
be shown regularly in this report.
Total reserve balances showed little further change on a seasonally
adjusted basis in June. However, they had increased $170 million in May,
offsetting nearly one-third of the $570 million decline which had occurred
between December and April.
Not for publication
July 15, I960
Banking Section, Division of Research and Statistics,
Board of Governors of the Federal Reserve System
- u Table 1
Estimated Changes in Loans and Investments at All Commercial Banks
(In billions of dollars)
—
Item
Total loans (less bank)
Last Wednesday of May to end of June
I960 3/ 1959 3/ 1 9 # 3/ 1957 3/
+ 1.7
^ Business (excluding nembank finan- .
cial or sales finance companies)2/
Nonbank financial
•Sales finance companies
(Business (including horibank finanm
cial or sales finance companies))
* Real estate
Security
Agricultural
Consumer
All other 2/
® U . S. Government securities
Other securities
Total (less bank)
Item
Total loans (less bank)
S Business (excluding nonbank finan-.
cial or sales finance companies )&/
Nonbank financial
Sales finance companies
(Business (including nonbank financial or sales finance companies))
S Real estate
Security
Agricultural
Consumer
All other 2/
@ U . S. Government securities
Other securities
Total (less bank)
0.7
O.lt
n.a.
1955
+ 2.3
+ 2.3
+ 2.1
+ 1.5
+ 2.0
+ 0.8
+ 0.6
+ 1.3
n.a.
+ 0.3
+ 1.2
+ 0.7
n.a.
n.a.
+ 0.3
1.1) (+ 1.1)
0.1
19#
n.a.
+ 0.1
(+ 0.7)
n.a.
+ 0.1
+ 0.2
(+ 1.6) (+ 1.3)
+ 0.1 + 0.2
+ 0.1 - 0.1
- 0.1 - 0.1
+ 0.2 + 0.3
+ 0.2 + 0.1
(+ 0.9)
+ 0.3
+ O.lt
+ 0.3
+ 0.2
+ 1.0
+ 0.2
+ 0.1
+ 0.2
- 1.0
+ 0.1
- 1.7
+ 1.5
— 1.6
- 0.7
- 1.7
- 0.2
+ 0.6
V
+ 0.1
+ 0.1
+ 0.7
+ 0.3
+ ii.lt
+ 0.9
+ 0.3
0.3
0.1
+ 0.3
1/
+ 0.1
+ 0.2
1/
+ O.lt
+ 0.1
Last Wednesday of May to end of June
1951
1953
1952
1951
195b
+ 1.0
+ 0.3
+ 1.1
+ 0*6
+ 0.8
1/
n.a.
+ 0.1
- 0.2
n.a.
+ 0.3
n.a.
+ 0.1
(- 0.2)
+ 0.1
+ 0.1
1/
+ 0.1
+ 0.1
(+ O.lt)
+ 0.1
(+
+
+
+
+
+
0.1)
0.2
0.2
0.1
0.2
0.1
y
y
+ 0.2
+ O.lt
(+
+
+
+
n.a*
n.a*
n*a*
n.a.
n.a.
n.a.
0.2)
0.1
0.2
0.1
(+ 0.2)
+ 0.2 r
- 0.1
1/
V
-ia
+ 0.2
+ 0.2
,
19h9
+ 0.3
n.a.
n.a.
n.a.
(a. a.)
n . a. -n.a.
n.a*
+ 0.1
n.a.
+ 0.2
+ 0.3
+ 0.5
+ o.lt
- 0.3
y
+ 0.2
- 0.1
+ 0.2
+ 0.2
+ 0.2
+ 0.2
+ l.U
+ 0.6
+ 1.7
+ 1.2
+ 0.7
+ 0.6
beginning June 1959 and exclude loans to nonbank financial institutions. For previous
years, loans to sales finance companies at weekly reporting banks have been excluded
from business loans to provide roughly comparable changes with current data. Ji/ Data
are for last Wednesday of June.
Wot for publication
- 5 Table 1
Estimated Changes in Loans and Investments at All Commercial Banks
~
(In billions of dollars)
End of December to end of June
I960 3/ 1959 3/ 1958 3/
Total loans (less bank)
Business (excluding nonbank financial or sales finance companies)2/
Nonbank financial
Sales finance companies
(Business (including nonbank finan
cial or sales finance companies))
Real estate
SecurityAgricultural
Consumer
All other 2/
1957 3/
+ 2.7
+ 5.3
+ 0.&
f
+ 1.9
i/
n.a,
+ 1,8
n*a#
+ 0,3
— 0.8
HoSto
- 0.9
+ l.li
TloSto
+ O.lt
+
+
+
+
+
1.9
O.lt
1.1
0.3
1.0
0.1
(+ 2,1)
+ 1,6
— 0,6
+
+ 0,7
(+
+
+
-
2oh
1,7) (+ 1.8)
0.6
+ 0,1
1.2
— 0,li
0.5
• 0.2
+ 0.8
0.1
+ 0,2
y
1956
1955
+ If. 2
+«lt.lf
+ 3.2
3,#
- 0.3
+ l.lt
n.a.
+ 0,6
(+
+
—
+
+
2.9)
1.0
0,6
0,2
1,0
0.3
(+ 2,o)
+ 1.1*
-^8
> 1.2
+ 0,6
U. S. Government securities
- li.8
- 5.5
+ 6oit
— 3.1
- 5.0
- 5.7
Other securities
— 0.6
y
+ 2.1
+ o,5
- 0.2
+ 0.5
- 2.8
-0.2
+ 8.9
- 0.2
- 1.0
- 0.8
Total (less bank)
End of December to end of June
Item
Total loans (less bank)
1953
1952
1951
1956
1919
- 0.3
+ 0.9
+ 1.5
+ 2.5
+ 1.8
- loll
- 0.9
n.a.
- 0.2
- o.lf
n«a*
- 0.1
- Oeii
+
+
+
+
1.1)
o.5
0.2
0.2
0.1
0,1
+ 0,1
Other securities
+ 0.9
+ 0.1
•
U. S. Government securities
n.a#
8to
n.a*
- 0.2
(- 0.5) (— 0,6)
+ 0.5
+ 0,lt
+ 0.5"
— O.lt
— 0,2
+ 0.2
+ 0,8
+ 1.3
+ 0,2
+ 0,1
«
Business (excluding nonbank financial or sales finance corapanies)2/
Nonbank financial
~
Sales finance companies
(Business (including nonbaak finan
cial or sales finance coepaales))
Real estate
Security
Agricultural
Consumer
All other 2/
195k
(+
+
+
+
+
1.7)
0.6
0.2
0.2
0.1
0.2
n.a.
n.a.
n.a.
H o a*
n.a*
(- 0.1) (- 2.5)
+ 0.9
+ 0,2
+ 0.2
+ 0.6
- 0,2
— 0.1
+ 0.8
+ 0.3
+ 0.3
1/
- 0,3
- 3.5
- 1.3
+ 0,6
+ 0.7
+ 0.3
+ 1.0
+ 0,3
+ 1,8
+ 1.6
- 0.7
- 0,5
;AT.
n.a. Hot available,
June 1959 and exclude loans to ncobank financial Institutions. For previous years,
loans to sales finance companies at weekly reporting banks have been excluded from
business loans to provide roughly comparable changes with current data. 3/ Data are
for last Wednesday of June, k/ As a result of bank structure changes in January and
April 1959, total credit increased about $700 million; total loans, $*00 million?
Digitized forU.
FRASER
S. Government securities, $200 million; and other securities, $100 million.
Total (less bank)
•• 6 ™
L.it.3
Table 2
Changes in $eans and Investments at Weekly Reporting
Menber Baaaks and Nonrepc
Last Wednesday of May to last Wednesday of June
Item
I960
Weekly reporting banks
1959
1958
1957
+ o.5
+ 3.7
+ 1.7
~ 1.0
2/
+ 0.7
+
+
+ o.lt
- 0.6
2/
- 0.2
+ 0.3
— O.lt
+ 0.2
1956
1955
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
+ 1.1
— o.U
+ 0.7
+
—
1.3
1.2
0.1
0.1
+ 0.6
— 0.6
+ 0.1
y
+
—
—
+
1.0
0.5
0.1
d.it
1.2
0.3
0.1
0.9
+ l.it
- 1.2
2/
+ 0.2
Nonr^ioi'tiag banks 1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
2/
+ 0.1
+ 6.f
a/
+
—
+
+
0.6
o.5
0.1
6.1
Last Wednesday of Hay to last Wednesday of June
Item
195k
Weekly reporting banks
+ 0.6
1953
1952
1951
1950
191*9
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
+
+
+
+
O.ij.
0.7
0.2
1.2
+
+
—
+
0.1
0.1*
0.2
0.3
+ 0.5
+ 0.8
*; o.i
+ i,h
+
+
+
+
O.li
0.7
0.1
1.3
+
+
+
+
0.6
0.2
0.1
0.9
+ 0.2
2j
+ 0.1
+ 0.3
+
+
+
0.2
0.1
0.1
0.3
+
+
+
+
+
-
0.2
0.3
0.1
0.1
+
—
+
—
0.2
0*5
0.1
0*2
+ 0.1
2/
+ 0.1
+ 0.3
Nonreporting banks 1/
Total loans
U. S. Government
Other securities
Total loans and investments
0
+ 0.6
— 0.5
1/ Beginning 1959, changes are on revised basis.
2/ Less than $50 million.
0 Not
for publication
0.6
0.3
0.1
0.3
L.U.3
Table 2
Changes in loans and Investments at Weekly Reporting
Ifeafcer Banks and Nonreporting Bankg
(in billions of dollar*;
Last Wednesday of December to last Wednesday of June
Item
I960
Weekly reporting banks
1959
1958
1957
1956
1955
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
+
-
0.6
2.1
o.5
1.9
+ 2 .ii
- li.lt
2/
- 2.0
—
+
+
+
0.9
6.2
1.5
6.8
+
+
-
0.7
1.7
0.1
1.0
+
-
2.8
3.5
0.3
1.1
+
+
-
2.7
iu8
0.1
2.0
+
—
2.1
2.7
0.1
0.9
y+ 2.9
+
+
+
+
1.3
0.2
0.6
5.1
+
—
+
+
1.7
l.li
O.lt
0.8
+ i.a
** 1*5
+ o.l
+ o.l
+
+
+
1.7
0.9
o.U
1.2
Som^ictfting banks 1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
Last Wednesday of December to last Wednesday of June
Item
1951
Weekly reporting banks
t \ t
Y * 1.8
1953
1952
1951
1950
19h9
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
+
+
+
lolt
0.9
0.7
0.2
— 0#2
w
3#8
2/
-1.6
+ 0.4
+ 0.3
+ 0.5
n x
+
+
—
1.3
2.5
0.1
1.2
+ 0.7
- 0.8
+ 0.7
+ 0.5
+
+
—
+
—
+
+
1.1
0.8
0.2
o.5
+1.1
- 0.9
+ 0.1
+ 0.3
+1.1
— 0.6
+ 0.2
+ 0.7
+
—
+
+
1.2
1.0
0.2
0.5
+ 1.1
- 0.5
+ 0.3
+ l.i
+ 0.3
— 0.6
1.7
1.2
0.3
0.1
Nonreporting banks 1/
Total loans
U. S. Government
Other securities
Total loans and investments
=-§61
1/ Beginning 1959 changes are on revised basis#
z/ Less than $50 millione
y As a result of bank structure changes in January and April 1959, total credit increased
about $700 million5 total loans $U00 million; U. S. Government securities, $200 million
and other securities, $100 million0
http://fraser.stlouisfed.org/
Not
forBank
publication
Federal
Reserve
of St. Louis
- 8 -
L.U.3
Table 3
Changes in Commercial and Industrial Loans 1/
(In millions of dollars)
""
Last Wednesday in May to last Wednesday in June k/
Business of Borrower
Food processors
Commodity dealers
Trade concerns
Total
I960 V1959 V1958 it/1957 It/1956 19#.
+
a.
+
-
Sales finance
All other - total
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc.
Other manufacturing
and mining
Public utilities
Construction
All other types of
business
15
95
19
70
3/
- 117 - 57 + 23 +
- 151 -
31
15
7
39
+ U70 + 332
2 + Ik
- Ill - 119
+ a
- Ii8
- 69 - 153
+ 233
+
19 A
29
61
k3
It7
+
-
31
36
2
65
— 100
- 103
+ 10
- 193
3k + 239
+
67
+
+
-
82
k9
5 + k6 18 - 101 +
5
1*7
+ 622 + 180 +1,012* + 867 + 51*9 - 33 6 + §73 + 2k$ + 70 - 306 +
+ 195 +
+
-
+
-
a
+
hi -
10 + 2k * w
1&0 + 180 + 160
+ to
+ 36
+
-
7 + 108
8 +
1*7 +
+ 479
+ 166
55
26
- 72
— 65
- 17
-
+ 92
+ 126
+ 25
+ 32 +
+ 195 +
+ 55 +
66 + 96 + 92 + kk + 22 +
h3 + 321 + 21ii + 2k3 + 183 29 + 26 + 22 + 6k + 18 +
35 + 11
68 - 108
10 + Hi
+ 4l
+ lit8 +
66
+ 409
+ 64
+ 9h2 + k72 +1,178
+ 27 + 73 + 13
Total change
+ k 73
+ 969
Total change excluding
Sales finance
+ 473
+ k99 + 213
Classified
Unclassified
2/
3/
%/
~
+
9k +
86
+
52
+
63
23 +
7k
+ 7k8 + 739
+ 26 2/+121
+
30 - 195 +
60 - 56 +
36
5
+ 5&5 +1,191 + 77k g/+860
+
30 - 251 +
1*1
+ 7it0 2/+621 -
37 - 258 -
67
+ 958
+
Includes CCC certificates of interest which are estimated to have declined $55 million#
Not included in business loans on revised basis.
In order to keep comparisons on a five-week basis the following dates were used: 1959>
May 27 - July 1; 1958, May 28 - July 2j 1957, May 22 - June 26$ 1956, May 23 - June 27J
1953, May 27 - July lj 1952, May 28 - July 2.
Not for publication
!
#
L.U.3
Table 3
Changes in Commercial and Industrial Loans 1/
(In millions of dollars)
"~
Business of Borrower
S
Food processors
Commodity dealers
Trade concerns
Total
Sales finance
0
0
All other - total
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc,
Other manufacturing
and mining
Public utilities
Construction
All other types of
business
Classified
Unclassified
Total change
0
0
Total change excluding
sales finance
Last Wednesday in December to last Wednesday in June
1960
1959
1958
19#
1956
1955
1951*
1952
1953
- 558 - ^59 - 658 - It 56 - 302 - 5iio - 505 - 621 - 868
- 677 - 355 - 283 - 539 - 386 - 1*61 - 363 - 632 - 63I*
+ 208 - 105
l + 171 + 11*6
+ 372 + 307 - 158 ^317
-i,oi*5=1^557
rto
V
+ 321
- 853
+ 366
- 322
+ 589
- 175 -
90 - 217
+1,840 +1,192 + 195 + 2 , 0 3 5 +2Z961 +1,521 - 230
TIE" + 935
+T7T62 T-WT
H e r
trr
+ 273 + 213 + 81* + 11*8 + 238
- 52 - 11*2 - 11*0 + 291 + l*2l*
+ 354 + 199 + 1 5 7
- 48 - 156 - 1 7 7
+ 96 + 10l| + 56
+ 155 + 130
+
69
+ 2XU
+ 513
- 12
-
+ 220
+ 313
+ 55 + 151
-
10 -
+ 369 + 1 5 3 1
+ 365 + 381t + 126
+ 51* + 13b + 71
51* + 11*9 + 11*3
10
+1,278
trim
- 73
+ 176
95 +
81* + 18 +
+ 106 -
8 -
2
18
28
+ 977 +1,008 -1,758 +i,l*ol* *2,12b +1,257 -1,311* - 360 - 51*6
180 •* 155 + 119 2/-179 y - 1 8 2 - 233 - 91
+ 203 + 185
+1,180 +1,192 -1,938 +1,2149 +2,21*3 y+]^078 y - i M - 593 - 637
+1,180 + 871
•1,085 + 883
+2,565 2 M 8 9
y-3U321 - 503 - 1*20
l/ Prior to week ending January 11, 1956, includes changes in agricultural loans.
2/ Includes CCC certificates of interest which are estimated to have declined $520
million.
3/ Includes CCC certificates of interest which are estimated to have increased $65
"" million.
1*/ Not included in business loans on revised basis.
0
Hot for publication
76
#
• 10 «*
L.U.3
Table 1*
Estimated CChanges in Deposits and Currency
(In billions of dollars)
Last Wednesday of Hay to end of June
Item
Seasonally adjusted data 1/
Demand deposits adjusted
Currency outside banks
Total
Seasonal!; unai usted data 1/
Demand epos s adjusted
Currency outside banks
Total
Time deposits
Commercial banks
Mutual savings banks
U. S. Government deposits
Total
Factors affecting deposits
and currency
Bank loans and investments
other than U. S. Govt, sec.3/
Commercial
™*
Mutual savings
Bank holdings of U. S.
Government securities:
Federal Reserve
Commercial
Mutual saving and other
Gold stock and foreign
deposits at F. R. Banks
Other factors
1/
".
if
3/
™*
y
1960 y
1959 h/
1958 y
1957 y
1956
+ 0.7
— 0.1
+ 0.6
+ 0*2
+ 0*1
+ 0.3
— 0.1
+ 0.1
+ 0.9
0.7
I
- 2 4
+ 0.9
+ 0.9
+
+
+
+
+
+
+
2/
+ 0.2
+ 0.2
+ 0.6
+ o,h
+ 0.2
— 0*5
+ O.h
0.2
0.2
0.4
1.0
1.0
0.1
0.1
+ 1.5
T
"" 0 * 1
+ 0.8
- 0.1
0.2
0.5
0.9
1955
I
- 0.1
+ 0.6
+ 1.0
+ 0.7
+ 0.7
+ 0.1
+ 0.3
0.7
0.3
+ 0.7
+ 2.3
+ 2.3
*•'2.3
n x
+ 0.2
+ 2.k
TT7T
+ 0.2
- 1.8
- 0.1
- 1.7
— 1.6
- 0.5
+ O.I4
- 0.7
- 1.7
+ §{2
+ §{5
X ,
> 0.9
+ It.l
+ 0.1*
- 0.6
1.0
0.1
+ 0.5
+ 0.6
+ O.it
+ 0.2
- 0.1
+ 0.9
(signs indicate
+ 2.3
+ 2.0
+ 0.2
+ 0.2
+ 1.8
+ 1.9
+ 3.3
+ 2.9
+ 0.2
- 0.6
+ 0.5
w
i*o
— 0*2
-1.7
— 0.1
- 0.1
— 0*1
0*1
— 0*5
+ 0.8
- 0.2
- 1.9
V
+ 2.3
+ 0.9
+ l.lt
- 0.3
+ 2.1
> 0.2
— o.i
- 0.2
+ 0.1
2/
Seasonally adjusted data are for last Wednesday throughout} unadjusted data sere for
last Wednesday except in case of June and December call dates, when available.
Less than $50 million.
Total includes foreign loans on gold, holdings of bankers' acceptances at the
Federal Reserve, and loans to foreign banks $ changes in these items are generally
relatively small. Even if there were no changes in other items, changes at commercial banks exclude all interbank loans, domestic and foreign, while total loans
exclude only those to domestic banks. In addition there is some lack of
synchronization in reporting asset and liability items used in computing "loans net".
Data are for last Wednesday of June throughout.
0
Not for publication
$
11
L.it«3
Table it
Estimated Changes in Deposits and Currency
(In billions of dollars)
Item
Bid of December to end of June
T
I960 k/ 1959 h/g' 1958 V 1957 h/ 1956
Seasonally adjusted data 1/
Demand deposits adjusted
Currency outside banks
Total
- 1.9
- 0.1
- 2.0
+ 1.9
+ 0.2
+ 2.1
+ 1.7
2/
+ 1.7
Seasonally unadjusted data 1/
Demand deposits adjusted
Currency outside banks
Total
Time deposits
Commercial banks
Mutual savings banks
U. S. Government deposits
Total
—
+
+
+
+
-
+
+
+
+
-
+
+
+
+
+
1.8
O.it
5*2
2.8
2.2
0.6
0.3
2.1
it.6
0.5
5.1
6.5
5.5
1.1
5.5
7.0
+ 0.6
+ 0.6
+ 0-1
+ 0.7
+ 2.0
+ 0.1
+ 2.1
~JL
5.2
- 3.3
- n.5
- 3.8
— 5.8
-
- 6.3
it.2
3.it
0.9
OxL
- 1.5
1.0
+ 1.8
+ 1.0
+ 1.0
- 1*3
- 1.2
+ 3.8
TTJ?
+ 5.it
+ 4.0
+ 1.3
+ 6.1
- 2.0
- 6.2
- 1.0
- 0.2
- 0.2
- 7.2
- 1.3
- 5.7
2.2
1.3
Ul
+ 0.7
(signs indicate effect
+
2.6
+
5-3
+
it.l
+
2.1
+
5.1
+
2.5
+
0.9
+
0.8
+
1*6
+ 1.2
-
5*6
-
6.0
+
6.9
- 5*it
—
O.it
1
+
0.8
-
it. 8
1
—
O.it
-=tlA
O 1A CV|
Factors affecting deposits
and currency
Bank loans and investments
other than U. S. Govt. sec.3/
Commercial
~*
Mutual savings
Bank holdings of U. S.
Government securities:
Federal Reserve
Commercial
Mutual saving and other
Gold stock and foreign
deposits at F. R. Banks
Other factors
7.1
1.1
8.5
1.8
1.6
O.ij.
2.0
It.7
+ 0.2
+ O.it
1955
- l / r
+
6»it
-
0.3
—
0.8
- 1.3
-
0.6
-
2.7
- 3.1
+ 0.6
— d*5
- 5.0
+ 0.2
- 0.7
+~0"
+ 1.2
- 0.2
+ 0.1
* 0*2
l/ Seasonally adjusted data are for last Wednesday throughout; unadjusted data a^e for
last Wednesday except in case of June and December call dates, when available.
:/ Less than $50 milliohl
/ Total includes foreign loans on gold, holdings of bankers' acceptances at the
Federal Reserve, and loans to foreign banks; changes in these itgms are generally
relatively small. Even if there were no changes in other items, changes at commercial banks exclude all interbank loans, domestic and foreign, while total loans
exclude only those to domestic banks. In addition there is some lack of
synchronization in reporting asset and liability items used in computing "loans net".
' Data are for last Wednesday of June throughout.
f In January and April 1959 as a result of bank structure changes, demand deposits
adjusted at commercial banks increased #200 million and time deposits $500 million.
Deposits at mutual savings banks declined $300 million.
e
Not for publication
-12-
L.l*.3
Table 5
Free Reserves
(Excess reserves minus member bank borrowings3
based on averages of daily figures; in millions of dollars)
All
member
Central reserve city
Chicago
New York
Reserve
city
Country
Quarterly averages:
1958: First
Second
Third
Fourth
31U
508
3 i*i
25
-10
18
-28
-a
-16
1*
1
-17
-27
63
-55
-19l*
366
1*22
1*21*
280
1959:
First
Second
Third
Fourth
-82
-363
-528
-1*39
-25
-52
-202
-168
-67
-56
-1*2
-83
-215
-393
-1*31
-385
225
137
11*6
196
i960:
First
Second
-313
-1*6
10
-123
-70
-357
-183
212
179
-15
-15k
-225
-227
-210
-181*
-109
-1*1
-63
-1*7
-35
-1*1*
-82
-62
-101*
-360
-535
-1+82
-1*20
-391
-338
-369
-1*1*9
133
101
-6b
1959: May
June
July
August
September
October
November
December
-318
-513
-557
-535
-1*93
-159
-435
-1*25
i960:
-360
-361
-219
-195
-33
37
-88
-50
1
-31
1*5
16
-90
-126
-152
-100
-1*9
-60
-1*39
-381
-252
-251*
-173
-122
257
197
182
190
11*1*
203
50
1
62
51*
9
77
3
3
52
1*
6
-60
73
3
-3
8
-11*
-1*8
-152
—18
-Uo
-158
-53
-170
-88
-158
-1*9
-167
208
-5
2li2
180
376
73
207
January
February
March
April
May
June
May 25
June 1
8
15
22
29
July 6
*-
1
•
- -
Note: Data for second half of June and JulLy are preliminary.
Not for publication
12k
11*5
169
171
180
237
L.U.3
- 13 Table 6
Changes In Member Bank Reserves, with Relevant Factors
(Monthly average of daily figures; in millions of dollars)
Total reserves held, seasonally
adjusted
Principal factors
Currency in circulation
Gold stock and foreign
accounts
Treasury operations
Federal Reserve float
Other factors
Effect of above
factors on reserves
I960
+
£6
1960
1959
1960
88
- 62b
- 338
- 218
- 88
- a
- 129
- 62b
- 20
- 613
- 16
- 627
1959
-
— — -
— — -
+
+
+
+
£6
7
50
n
39
-
5
Tear ending June
— — —
— — —
1959
+
70
- - -
218
55
162
288
l * 5o
+ 70
- 219
- 11*9
- 203
- 162
- 169
'signs inciicate ef:'ect on r<aserves)
- 130
- 129
- 338
- 110
- 1*1*8
- as
+
+
-
S
o
Member bank reserves
Required reserves l/
Effect of change In
requirements
Effect of deposit change
Excess reserve 1/
Total reserves held 1/
Cash allowed as reserves 1/
Reserve balances
~
January - June
June
i
IvoIR
mm mm mm
- 11*9
- 201
- 326
+ 818
+ 551*
- 110
- 777
- 1*0
+ b3
+ 130
- 121
- 190
+ 130
+ 7b
- 12
+
1
+ 53
- 253
+ 151
- 51*8
+ 87
- 1*87
- 67
+
+
+
631
288
161*
189
-1,1*56
+ 95
+ 93
- 96
- 189
- 321*
+ 803
- 1*61
- 100
-2,11*1
+ 228
+ 195
-1,1*30
+
- 350
+1,992
+ 306
+ U21
- US
1
+ 1+3
+ 67
- 2b
2
- 912
- 875
| - 37
- 32
=~3h$.
- 267
- 82
- 13
±_161
+ 169
8
+
2
±1*213
+1,251
- 38
- 17
-
+ l51t
- 1*81
5
+ 361*
+ 10
- 1*96
- 17
+ 779
+ 17
Federal Reserve loans and
investments:
Total
U. S. Govt, securities
Outright
Repurchase agreements
Acceptances
Discounts and advances:
To member banks
To others
1/ Preliminary for June I960.
Not for publication
77
12
Table '(
TOTAL MEMBER BANK RESERVES
1/
Unadjusted Data
(daily average figures, in millions of dollars)
Feb.
Jan.
Year
194?
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
13
14
14
14
15
16
16
17
17
17
17
17
18
18
936
802
396
807
443
419
776
186
653
670
821
846
893
878
13
14
14
14
15
15
16
16
17
17
17
17
18
18
596
24)
057
460
115
992
4l6
612
380
278
385
601
577
213
Mar.
13
14
13
14
15
16
16
16
17
17
17
17
18
18
609
097
943
411
361
198
321
633
208
478
449
909
429
027
Apr.
13
13
13
14
15
15
15
16
17
17
17
18
18
18
540
948
780
242
477
815
991
491
359
404
6)6
083
664
104
May
13
13
13
14
15
15
15
16
17
17
17
18
18
18
575
941
798
282
092
800
915
600
310
297
397
223
580
239
June
13
14
13
14
15
16
16
16
17
17
17
18
18
18
724
077
827
508
467
109
261
907
282
488
541
600
451
289
July
13
14
14
14
15
16
16
16
17
17
17
18
18
887
042
113
562
395
397
529
901
387
404
681
609
671
Sep.
Aug.
13
14
14
14
15
16
16
17
17
17
17
18
18
998
176
277
567
347
235
585
083
297
352
4l4
581
613
14
14
14
14
15
16
16
17
17
17
17
18
18
341
308
405
867
523
429
619
Oil
281
575
525
425
593
Oct.
14
14
14
14
15
16
16
17
17
17
17
18
18
516
263
434
993
936
482
610
452
423
494
599
476
610
Nov.
14
14
14
14
15
16
16
17
17
17
17
18
18
422
265
438
993
844
593
756
747
453
709
529
540
621
Dec.
14
14
14
15
16
16
16
17
17
18
17
18
18
678
383
585
593
269
949
929
803
765
047
955
899
956
Seasonally Adjusted Data
(daily average figures, in millions of dollars)
Jan.
Year
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
13
14
14
14
15
16
16
16
17
17
17
17
18
18
e
570
399
017
418
066
034
415
849
375
426
627
670
706
691
Feb.
13
14
14
14
15
16
16
16
17
17
17
17
18
18
#
651
286
085
489
160
040
466
678
467
435
561
797
746
36O
Mar.
13
14
14
14
15
16
16
16
17
17
17
18
18
18
746
240
056
469
376
198
370
716
329
583
572
036
615
228
Apr.
13
14
14
14
15
16
16
16
17
17
17
18
18
18
831
247
061
518
777
138
284
742
517
474
654
083
664
104
#
May
13
14
14
14
15
16
16
16
17
17
17
18
18
18
880
255
109
618
463
189
256
887
538
471
538
315
636
276
June
13
14
14
14
15
16
16
17
17
17
17
18
18
18
933
291
023
6 69
607
239
392
009
351
505
524
563
433
271
July
14
14
14
14
15
16
16
16
17
17
17
18
18
027
184
227
650
441
4l4
545
935
422
404
628
516
559
#
Aug.
14
14
14
14
15
16
16
17
17
17
17
18
18
040
219
320
655
455
333
635
134
366
457
484
599
595
#
Sep.
14
14
14
14
15
16
16
17
17
17
17
18
18
185
166
291
807
492
412
619
028
316
610
560
480
649
Oct.
14
14
14
14
15
16
16
17
17
17
17
18
18
302
094
277
859
825
400
544
400
388
494
634
531
666
Nov.
14
14
14
14
15
16
16
17
17
17
17
18
18
265
124
323
889
734
461
623
606
349
656
546
577
677
e
Dec.
14
14
14
15
15
16
16
17
17
17
17
18
18
334
073
271
227
872
535
548
420
383
675
638
602
671
e
TOTAL MEMBER BANK RESERVES l/
Seasonal Adjustment Factors
Year
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
I960
Jan.
102.7
102.8
102.7
102.7
102.5
102.4
102.2
102.0
101.6
101.4
101.1
101.0
101.0
101.0
Feb.
99.6
99.7
99.8
99.8
99.7
99.7
99.7
99.6
99.5
99.1
99.0
98.9
99.1
99.2
Mar.
99.0
99.0
99.2
99.6
99.9
100.0
99.7
99.5
99.3
99.4
99.3
99.3
99.0
98.9
Apr.
97.9
97.9
98.0
98.1
98.1
98.0
98.2
98.5
99.1
99.6
99.9
100.0
100.0
100.0
May
97.8
97.8
97.8
97.7
97-6
97.6
97-9
98.3
98.7
99-0
99.2
99.5
99.7
99.8
July
June
98.5
98.5
98.6
98.9
99.1
99.2
99.2
99.4
99.6
99.9
100.1
100.2
100.1
100.1
99.0
99.0
99.2
99.4
99.7
99.9
99-9
99.8
99.8
100.0
100.3
100.5
100.6
100.7
2j
Aug.
99-7
99-7
99.7
99.4
99.3
99.4
99.7
99.7
99.6
99.4
99.6
99.9
100.1
100.2
Sep.
101.1
101.0
100.8
100.4
100.2
100.1
100.0
99.9
99.8
99.8
99.8
99.7
99.7
99.7
Oct.
101.5
101.2
101.1
100.9
100.7
100.5
100.4
100.3
100.2
100.0
99.8
99-7
99.7
99.7
Nov.
101.1
101.0
100.8
100.7
100.7
100.8
100.8
100.8
100.6
100.3
99.9
99.8
99.7
99.7
Dec.
102.4
102.2
102.2
102.4
102.5
102.5
102.3
102.2
102.2
102.1
101.8
101.6
101.4
101.3
\J Figures are actual for the period beginning with May 1958» when the latest change in reserve requirements
became effective. In order to eliminate the effects of differences in reserve requirements in earlier monthsf
figures for those months were synthesized by taking the sum of actual excess reserves and an artificial figure
for required reserves constructed by applying present reserve requirements against demand and time deposits by
class of bank.
2/ Based on figures for the period January 1947 - December 1959.
Table 8
Liquid Assets Held by the Public -- Seasonally Adjusted Series
-/6
-
(amounts in billions of dollars; ratios expressed as percentages)
End of
month
or year
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959=
April
May
June
July
August
September
October
November
December
I960:
January
February
March p
April p
May
p
J-
Demand
Personal-type savings
deposits Total
U. S. Govt
Total
adjusted personal- Time deposits
Savings U.S.
securities
liquid
and
type
adjusted l/
and
Govt,
maturing
assets
currency savings Commer- Mutual
loan
savings
within
one
(2+3+8)
outside (4+5+6+7) cial
savings shares
bonds
year 5/
banks l/
banks banks 2/
4/
3/
2
4
6
8
1
3
5
7
Ratios
Ratio.
Commercial
Total
Commercial
bank demand
liquid
bank deposits
and time de+ currency to assets to
posits adj.
total liquid
gross
and currency
assets
national
(2 + 4)
(9 + 1)
product 6/
10
11
9
271.8
284.0
296.2
308.3
318.0
330.3
339.9
351.7
369.7
114.6
120.2
124.1
126.6
130.0
133.5
134.5
133.6
138.8
129.0
132.7
140.6
148.6
158.1
166.4
174.1
182.8
196.7
36.3
37.8
40.6
43.6
46.8
48.5
50.7
56.4
63.4
23.0
23.6
25.2
26.7
28.5
30.0
31.6
33.0
35.1
14.0
16.1
19.2
22.8
27.2
32.0
37.0
41.7
47.7
55.7
55.2
55.6
55.5
55.6
55.9
54.8
51.7
50.5
28.2
31.1
31.5
33.1
29.9
30.4
31.3
35.3
34.2
150.9
158.0
164.7
170.2
176.8
182.0
185.2
190.0
202.2
55.5
55.6
55.6
55.2
55.6
55.1
54.5
54.0
54.7
377.9
380.4
383.8
385.8
387.0
387.8
387.8
388.2
388.4
140.4
140.6
140.9
141.2
140.9
140.8
140.4
140.1
140.2
199.4
200.3
200.9
201.3
202.1
202.8
202.9
203.7
204.1
64.3
64.6
64.8
64.9
65.2
65.6
65.5
65.9
65.9
35.4
35.5
35.6
35.6
35.7
35-8
35.7
35.8
35.9
49.8
50.4
51.0
51.5
52.1
52.6
53.2
53.7
54.3
49.9
49.8
49.5
49.3
49.1
48.8
48.5
48.3
48.0
38.1
39.5
42.0
43.3
44.0
44.2
44.5
44.4
44.1
204.7
205.2
205.7
206.1
206.1
206.4
205.9
206.0
206.1
54.2
53.9
53.6
53.4
53.3
53-2
53.1
53.1
53.1
389.2
389.1
390.3
390.4
386.8
140.0
139.1
139.5
139.4
137.6
204.1
204.5
2O5.X
205.7
206.5
65.7
65.7
65.9
66.0
66.1
35.8
35.8
36.0
36.1
36.1
54.9
55.4
55.9
56.4
57.1
47.7
47.6
47.4
47.2
47.2
45.1
45.5
45.6
45.3
42.7
205.7
204.8
205.4
205.4
203.7
52.9
52.6
52.6
52.6
52.7
U-
——
w
Vfcwjjivw* WW
wvu ouu WV4.J. j.
89.1
83.3
82.2
85.1
85.3
80.7
78.8
79.3
80.0
78.2
80.7
80.3
77.8
WU UOiUC ucumo CJ/X ^ ao U1 U1H5 xao u ncuiiCDuaj
of monthe 2/ Includes savings deposits in the Postal Savings System, J>/ Prior to 1955 data are Board estimates based on
monthly figures of inflow of new savings and withdrawals of savings capital compiled by the Federal Home Loan Bank Board,
by Includes all types of savings bonds held by investors other than banks and U» S 0 Government agencies and trust funds*
5/ Includes all marketable securities maturing within one year (adjusted to include partially tax exempt securities twelve
months prior to first call date) and, prior to 1956, nonmarketable Treasury savings notes with maturities up to 2k months;
figures include holdings of insurance companies, brokers and dealers9 State and local Governments9 nonbank corporations,
corporate
pension funds9 nonprofit institutions, foreign accounts, and individuals<, 6/ See reverse side of sheet<>
6/ Gross national product estimates are available quarterly and annually only. For 1950 - 1958 ratios are for last
quarter of year; for 1959 and I960, for each quarter of year. Data for total liquid assets used in computing
these ratios are quarterly averages for four dates: each month of the current quarter and the last month of the
preceding quarter.
Table 9
,LU.3
Ratios to Total Deposits 1/
U.S. Govt, securities maturing
within one year
All
Member banks
All comcommercial
Central reserve city Reserve flniintrnr
mercial
TotalVULLtl WJf
banks
city
Chicago
banks
New York
L O A N S
Date
191*6;
19U7:
I9I4.8s
1949:
1950:
1951:
1952:
1953:
195b:
1955:
1956:
1957$
1958:
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
31
31
31
31
31
31
31
31
31
31
31
31
31
1959:
Jan. 28
Feb. 25
Mar. 25
Apr. 29
May 27
June 24
July 29
Aug. 26
Sept. 30
Oct. 28
Nov. 25
pec. 31
I960: Jan. 27
Feb. 2k
Mar. 30
Apr. 27 p/
May 25 e7
June 29 2/
1/
27.7
31.0
35.9
3l**9
1*2.5
1*6.3
50.6
50.6
1*6.8
56.7
61.7
61.9
57.7
27.3
30.3
30.1*
25.6
32.3
36.2
38.9
39.1
38.3
1*6.3
52.7
55.2
1*9.1*
26.0
31.1
33.1*
32.lt
38.1
39.lt
1*1.1
42.2
1*1.9
1*8.5
52.7
53.3
51.3
18.9
23.1*
27.1
28.5
31.5
32.1
33.9
36.1
37.1
1*0.7
1*2.6
1*1*. 1
1*1*. 1
*
1*9.5
50.3
51.3
51.5
52.1*
53.6
53.7
54.5
51*. 7
51*. 9
55.8
55.6
57.7
58.2
58.7
59.0
1*8.3
1*8.7
51.9
50.5
•51.8
51*. 1*
54.0
55.6
57.2
56.6
56.2
58.2
51.5
52.7
53.8
53,8
55.1
56.1
56.5
57.1
57.6
57.5
58.1*
58.2
1*1*.5
1*5.2
1*6.0
1*6.1*
1*7.0
1*7.9
1*7.7
1*7.9
1*7.9
1*8.1*
1*8.2
7.9
6.8
5.5
5.7
6.7
6.0
6.5
5.9
5.7
5.9
6.1
6.7
55.9
57.1
58.0
57.7
58.3r>
58.5
67.1*
69.lt
69.1*
67.6
58.2
62.7
61*. 5
62.0
63.8
63.2
58.7
1*8.8
1*9.1*
50.3
50.6
51.1*
51.7
6.6
5.5
4.6
4.9
4.4
n.a.
23.3
27.7
31.2
31.1
35.8
37.2
39.3
1J0.5
1*0.3
1*5.8
1*8.8
1*9.7
1*8.1*
23.7
28.2
31.3
30.9
36.1
37.6
39.9
1*1.1
1*0.7
1*6.7
50.1
1*8.6
1*9.3
50.3
50.5
51.1*
52.5
$2.6
53.3
53.1*
53.6
51*.!*
51*.0
51*. 1*
55.6
56.1*
56.2
56.9
57.1
51.0
1*9.1*
60.0
62.2
62.6
65.5
65.3
66.6
69.5
67.3
68.0
67.1*
60.1*
61.I
61.1
6l .7r
61.9
1*8.0
2/
2/
2/
2/
2/
11*. 3
llt.O
ll*.2
19.2
15.2
9.8
11.7
16.9
10.0
5.1
7.5
8.1*
8.3
Total loans (adjusted to exc]Lude loans 1io banks)j J. S. Government securities maturing within one year estimated on basis of Treasuiy survey of ownership; and total
deposits (adjusted to exclude cash items in process of collection).
Sg/
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,
r
Revised.
Not for publication
Table 10
Deposits and Currency
(in "billions of dollars)
L.4.3
(1)
(2)
(4)
(3)
(5)
(6)
(7)
- / s -
(8)
(9)
(10)
(11)
(12)
Seasonally adjusted
money supply l/
Year
or
month
End of Decs
1953
1954
1955
1956
1957
1958
1959 s
Mar. 25
Apr. 29 1/
May 27
June 24
July 29
Aug. 26 y
Sept.30
Oct. 28
Nov. 25
Dec. 31 V
I960:
Jan. 27
Feb. 24
Mar. 30 p
Apr. 27 p
May 25 p
June 29 p
Total
(2+3)
1
Seasonally
Time deposits
Total
adjusted
U.
S.
Curdeposits
money
Demand
CurGov't
rency
and
Demand
supply and deposits
rency
Total
CommerMutual
Postal
deposits
outside
currency
deposits
time dep. adjusted
outside
(7+8+9) cial
savings savings
banks (5+6+10
2/
adjusted
at com'l.
banks
+11)
banks(1+7)
126.6
130.0
133.5
134.5
133.6
138.8
99.3
103.1
106.1
107.1
105.8
110.7
27.3
26.9
27.4
27.4
27.8
28.1
170.3
176.8
181.9
185.1
189.7
202.0
102.5
106.6
109.9
111.4
110.3
115.5
70.4
75.3
78.4
82.2
89.1
98.3
43.7
46.8
48.4
50.6
56.1
63.2
24.4
26.3
28.1 1
30.0
31.7
34.0
2.4
2.1
1.9
1.6
1.3
1.1
4.8
5.1
4.4
4.5
4.7
4.9
28.1
27.9
28.3
28.3
28.3
28.7
205.7
214.8
221.0
226.4
232.3
247.5
140.3
140.4
140.6
140.9
141.2
140.9
140.8
140.4
140.1
140.2
112.1
112.2
112.4
112.6
112.9
112.6
112.4
112.0
111.8
112.0
28.2
28.2
28.2
28.3
28.3
28.3
28.4
28.4
28.3
28.2
204.4
204.9
205.6
206.3
206.5
206.4
206.5
205.9
204.8
206.1
110.3
112.5
110.7
110.7
112.7
111.1
111.4
112.7
113.1
115.4
99.5
99.9
100.5
101.1
100.8
101.2
101.5
101.1
100.3
101.8
64.1
64.5
65.O
65.4
65.3
65.5
65.7
65.5
64.7
65.9
34.3
34.3
34.4
34.6
34.5
34.7
34.8
34.6
34.6
34.9
1.1
1.1
1.1
1.1
1.0
1.0
1.0
1.0
1.0
0.9
4.4
5.1
5.7
5.2
5.6
6.5
7.1
6.0
5.1
5.8
27.9
27.9
28.1
28.3
28.4
28.5
28.5
28.3
29.1
29.4
242.0
245.4
245.0
245.4
247.6
247.4
248.5
248.2
247.6
252.4
140.0
139.1
139.5
139.4
137.6
138.2
111.7
110.8
111.1
111.2
109.4
110.1
28.3
28.3
28.4
28.2
28.2
28.1
205.2
204.5
205.5
205.6
204.1
205.7
114.0
110.5
108.8
111.5
107.8
108.0
101.0
101.2
102.2
102.3
102.6
103.6
65.2
65.4
66.0
66.2
66.5
67.5
34.9
34.9
35.3
35.2
35.2
35.3
0.9
0.9
0.9
0.9
0.9
0.8
4.4
5.3
5.2
5.3
7.7
7.8
27.9
28.0
28.1
27.9
28.1
28.3
. 247.3
244.9
244.2
247.0
246.2
)
247.7
1/ Seasonally adjusted series begins in 1946 and is available only for last Wednesday of the month. 2/ At commercial,
savings, and Federal Reserve Banks.
As a result of inclusion of a national bank in Hawaii, demand deposits adjusted
increased about $100 million and time deposits at commercial banks about $100 million. 4/ As a result of inclusion of
all banks in Hawaii, demand deposits adjusted increased about $200 million and time deposits at commercial banks about
$200 million. On balance in 1959, as a result of structure changes, demand deposits adjusted increased $4-00 million,
time deposits at commercial banks increased $700 million, and time deposits at mutual savings banks declined $300
million.
Jy Demand deposits were reduced about $4-00 million as a result of a technical change under Regulation D
amending the definition of such deposits.
fn-r r>Tim1 nati nr>
Table 11
Loans and Investments at All Commercial Banks
(In billions of dollars")
L.4.3
1953s
Dec
1954s
19565
Dec
Dec.
Dec
1957s
Dec
1958?
Nov.
Dec.
1955
'•
Loans
and
investments
145.5
155.7
160.3
164.5
169.3
26
31
1/ Jan
Feb
Mar
2/ Apr
May(old) June
(new) June
July 29
\[ Aug. 26
Sept
Oct.
Nov
Dec.
secur
ities
Other
secnr
ities
Total
181.1
183.8
183.9
184.2
184.2
185.7
186.1
186.3
186.7
186.1
I89.5
Farm
Consumer
Nonbank
financial
institutions
10,>9
82.0
89
182.7
184.4
183*8
181.9
Business
—
95.9
96.0
97.4
99.3
100.5
102.8
102.8
103.9
105.3
106.3
106.5
107.3
110.0
10.>9
All
other
5.T
13<,2
14.6
15.8
5.6
6.5
6.9
7.2
15.7
15.9
8.2
7.9
8.0
8.1
16.0
16,
8.2
16,
16,
17 <
1717.
17«
17.
18,
18,
18c
18,
/ ? -
8.4
8.6
56<
6,
6,
6,
6,
7<
8.9
7.7
7.8
8.0
8.
8,
8<
8,
18.6
39.4
8.4
6.3
18.6
39-8
6.4
8.5
109.1
40.9
18.6
6.6
r 8.4
110.5
r 41.1
6.8 r 8.5
19*0
rl86.0
111.Or r 41.4
r 8.5
rl9.2
6.7
June 29 v
42.1
112.7
.8.6
19.5
7.1
500
mi
- Revised. \J Total credit increased almostu w y
w million
in January as a result of bank structure changes
2/ Total credit increased about $200 million as a result of bank structure changes. 3/ Total credit increased
-.bout $300 million as a result of bank structure changes. Structure changes in 1959, on balance through
August, added almost $1 billion to 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 million1 and other loans, $100 million. Notes Data exclude interbank
>oans. Total loans are after and types of loans before deductions for valuation reserves. Consumer and
"other loans" are partly estimated for all dates. Other data are partly estimated on all but June and December
call dates. Beginning June 24, 1959» "business loans" and "all other loans" have been revised to exclude
loans to nonbank financial institutions.
107.4
108.1
@FedFRASER