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FEDERAL RESERVE BANK
of
L
'k'3'
KANSAS
CITY
JUL 2 6 1961
— Research Library —
BANKING AND MONETARY DEVELOPMENTS IN JUNE 1961
Bank credit. Total credit at all commercial banks increased
$1.1* billion further in June reflecting increases in both security holdings and in loans. Holdings of U. S. Government securities increased
$>00 million as bank acquisitions of practically the entire $1.8 billion
Treasury bill issue on June lit were offset only in part by sales of these
and other securities. Holdings of State, local, and other securities
increased moderately further. Total loans rose $700 million, much less
than in June of other recent years. The total credit growth in June
exceeded that of all other recent years, however, except 1958 and 195h,
but there was no Treasury cash financing in June of any other year except
1958. This year's June growth was somewhat larger than usual at both
weekly reporting-banks in leading cities and at nonweekly reporting banks.
Total credit at all commercial banks increased $1.8 billion
over the first half of 1961. In all other recent years except the
recession years of 1958 and 1 9 % credit had declined and generally by
$1 billion or more. The 1961 expansion was much less than in the first
half of 1958 but followed a larger credit growth in late I960 than had
occurred in late 1957. A contraseasonal rise of $1 billion in holdings
of U. S. Government securities and an unusually large increase of $1.3
billion in holdings of State, local, and other securities were offset
in part by a loan decline of $500 million. Loans had increased in the
first half of every other recent year except 195L Credit growth at
weekly reporting banks in the first half of 1961 contrasted with substantial reductions in all other recent years except 1958 and 195U
while credit growth at other banks appeared not too different from
that of most past years.
Business loans at all commercial banks increased $500
million in June, a smaller growth than usual for this month. MidJune tax and dividend related borrowing was smaller than in the
comparable period last year. Both corporate tax payments and maturing
tax securities available for payment of taxes were slightly below those
of I960. Business loans declined $600 million over the first half
of 1961, about comparable with reductions in the similar periods of
1958 and 195>lu In the first half of 195>9 and i960 business loans had
increased almost $2 billion.
Loans to food processors and commodity dealers declined about
seasonally in June and loans to trade concerns, which usually rise,
also dropped slightly. Net new borrowing by metals concerns and public
utilities was much smaller than usualj tax and dividend period borrowing
had not been as large as in other years and was offset in large part by
continued loan liquidation. Loans to "other manufacturing groups"
increased in record volume, however, and those to "all other businesses"
in near-record volume, mainly reflecting further acquisitions of bankers'
acceptances by banks in New York City.
Not for publication
Loans to nonbank financial institutions declined slightly in
June as a much smaller-than-usual riqe over the tax period was more than
offset by reductions at other times. Net repayments by these institutions over the first half of 1961 totaled $1.2 billion, considerably
more than in any other recent year.
Total security loans showed little over-all change in June.
Loans to U. S. Government security dealers declined as customary borrowing over the tax period was more thai} offset by reductions at other times.
Loans to brokers and others against stock market collateral rose further
in June. So far in 1961, security loans have shown little change as
reductions in loans to U. S. Government security dealers have been offset by increases in other security loans. Usually, security loans drop
substantially in the first half of the year.
Deposit ratios. The ratio of total loans to total deposits
at all commercial banks declined nominally in June to 55>.£ per cent,
little different from levels of other recent months. The ratio is
now slightly above the recent low in January 1961 and compares with a
postwar high of £7 per cent in mid-1960. The ratio of U. S. Government
securities maturing within one year to total deposits rose further in
June to 9.8 per cent.
' Money supply. The daily average money supply, seasonally
adjusted, showed no change between the second half of May and the second
half of June as a $!>00 million increase in early June was subsequently
offset by a decline of equal volume. During the first half of 1961,
the money supply has increased at an annual rate of 2 per pent following
growth at a 1-1/2 per cent annual rate in the second half of I960.
The end-of-month series increased slightly in June and sinqe December
has expanded at about the same rate as the average money supply.
U. S. Government deposits at member banks declined about as
usual in the first half of June but in the second half rose much more
than in other recent years. Over thg first half of 1961, on an average
basis, however, these deposits increased slightly as appears usual.
Time deposits at all commercial banks, seasonally adjusted,
increased about $600 million further in June, not quite as rapidly as
in most other recent months. Since December, these deposits have
increased at an annual rate of 12-1/2 per cent (exclusive of the $1.5
billion due to reclassification of foreign central banks and a small
adjustment for the Sears transaction). This was somewhat slower than
in the second half of I960 and the first half of 1958, but much faster
than in corresponding periods of other postwar years.
Deposit turnover. The seasonally adjusted annual rate of
demand deposit turnover at banks outside New York and other financial
centers declined slightly from 26.9 in May to 26.6 in June. Turnover
had been about unchanged at high levels in the first four months of
Not for publication
1961 and then increased in May. So far this year, turnover has
averaged about the same as in the comparable period of I960. In
New York City, turnover increased sharply in the late spring as the
stock market and other financial markets became more active.
Bank reserves. Total reserves of member banks increased
over June on an average basis. Excess reserves rose $60 million to
$610 million and required reserves increased $120 million as a substantial rise at the midmonth associated with bank credit expansion at
the time of the Treasury cash financing and around the quarterly tax
date was offset only in part by subsequent declines. Borrowings
declined somewhat to $6£ million and free reserves averaged
million
compared with $lj.!?E> million a month earlier. Host of the increase in
free reserves occurred at central reserve city banks in New York where
reserve positions had tightened in May. Since January, free reserves
at all member banks have fluctuated around $500 million.
The effective rate on Federal funds was generally relatively
low during June except for a few days early in the month and again for
a temporary rise just prior to redemption of tax anticipation securities
on June 22. In May, in contrast, the rate had been high over most of
the month, often at 2-1/2 or 2-3/h per cent.
During June, on a daily average basis, reserves were
absorbed primarily through currency outflows and supplied through
gold purchases, increases in Reserve Bank float, and other factors.
In addition, Federal Reserve holdings of U. S. Government securities
increased $190 million.
Not for publication
Banking Section,
Division of Research and Statistics,
Board of Governors of the Federal Reserve System.
July 17, 1961
L.U.3
- L Table 1
Estimated Changes in Loans and Investments at All Commercial Banks
(In billions of dollars)
Last Wednesday of !Hay to end of June
1961 6/ 1960 6/ 1959 6/ 1958 6/ 1957 6/ 1956
Item
+ 0.7
+ 1.7
>2.3
+ 2.3
+ 2.1
+ 1.5
+ 0.5
— 0.1
V
+ 0*6
+ 0«li
V
+ 0.8
3/
+ n.3
+ 0.6
3/
+ 9.1
+ 1.3
3/
+ 9.3
+ 1.2
3/
+ 9.1
+
+
+
+
+
+
1.0
0.1
0.1
0.1
0.3
0.1
+ i.i
+ 0.3
1/
+ 0.1
+ o.it
+ 0.3
+
+
+
+
+
+
+
+
+
—
+
+
+
+
+
+
U. S. Government securities
+ 0.5 - 0.9
- 1.7
+ 1.5
— 1.6
~ 0.7
Other securities
+ 0.3
+ 0.1
- 0.2
+ 0.6
1/
+ 0.1
OO
+ 0.3
+ lull
+ o.5
+ 0.9
Total loans (less interbank)
Business (excluding nonbank financial
or sales finance companies) 2/
Nonbank financial
Sales finance companies
(Business (including nonbank financial or sales finance companies))
Real estate
Security
Agricultural
Consumer
All other 2/
+
+ l.ii
O
Total (less bank)
•
+ O.it
+ 0.1
1/
• - 0.1
5/+ o.i
" 1/
0.7
0.2
1.0
0.2
0.1
0.2
1*6
0.1
0.1
0.1
0.2
0.2
1.3
0.2
0.1
0.1
0.3
0.1
Last Wednesday of May to end of June
*19j?j>
19%? 1951 I 1955
Item
3HE 3SS
+ 1.0
+ 0.3
+ 1.1
+ 0*6
+ 0.8
- 0.2
+ 0.3
n*a.
3/
n • a*
n.a.
3/
n.a.
+ o.l
+ 0.2
+ 0.1
+ 0.2
+ 0.2
-
+ 0.2
+ 0.5
+ o.U
- 0.3
+ 0.2
+ 0.2
+ 0.2
Total loans (less interbank)
Business (excluding nonbank financial
or sales finance companies) 2/
Nonbank financial
~™
Sales finance companies
(Business (including nonbank financial or sales finance companies))
Real estate
Security
Agricultural
Consumer
All other 2/
+ 2.0
H.h
+ 0.2
+ ff{l
+ 0.1
+ 9.2
+ o.U
1/
U. S. Government securities
- 1.7
+ 0.2
+ 0.3
Other securities
+ 0.1 + 0.2
- 0.1
&
+ 0.7
+™0.2 X
+ 0.9
+ 0.3
+ 0.1
+ 0.2
+ 0.2 + 0.2
+ 0.1
+ 0.1 + 0.1
i
- 0.2
+ 0.1
+ 0.1
+ ¥.1
+ 0.1
1/
+ 0.2
+ 0.1
- 0.1
+ ¥.2
+ 0.6
+ 1.2 + 0.7
+ 0.3 + l.U
Total (less bank
1*1
1/ Less than $50 million, n.a.—Not available. 2/ Data are on revised basis
beginning June 1959 and exclude loans to nonbank financial institutions. For previous
years, loans to sales finance companies at weekly reporting banks have been shown
separately to provide roughly comparable changes in business loans on revised basis.
3/ Included in business and "all other." U/ Included with nonbank financial.
%/ Includes about $100 million repayment on Sears transaction. 6/ Data are for last
Wednesday of June.
Not for publication
L.U.3
~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 6/jL959P7°/| 1 9 ^ 6/1 19<7 6A 19%T~
Item
Total loans (less interbank)
7/- 0.5
Business (excluding nonbankfinancial
— o,6
or sales finance companies) 2/
- 1.2
Nonbank financial
Sales finance companies
(Business (including nonbank financial or sales finance companies))
— 1*8
Real estate
+ 0.5
Security
— Oel
Agricultural
- + 0.3
Consumer
5 A 0.7
All other 2/
7/- o.i
V
+ 2.6
+ O.lj.
+ 2.1
+ 1.8 - 0.8
+ l.il
+ 5.3
3/
1
1.7
0.3
1.1
0.U
3/
+ 0.3
- 0.9
+ 2.1
- 1.7
+ 1,6
— 0*6
1.0 +
+ 0.6
+ 1.2
+ 0.6
3/
f
+ 0.1; •- 0.3
+ 1.8 + 2.9
+ 0.1 + 1.0
— O.Zj.
— 0.6
y
+ 0.8
+ 0.2
+ 0.3
6,h
- 3.1
- 5.0
¥.6 - o.i
O.li
+ it.2
+ o.5
- 0.2 — 0.2
+ 1.0
U. S. Government securities
+ 1.0
- 1.7
- 5.5
Other securities
+ 1.3
— 0.6
i/
+ 2.1
+ 0.5
— 0.2
- 0.2
+ 8.9
— 0.2
- 1.0
Total (less bank)
7A
1.8, — 2.8
Item
M
+
End of December to end of June
W
"19W
m r
2HE
k.k
- 0*3
+ 0.9
+ 1.5
+ 2.5
+ 1.8
+ 1.1;
- 0.9
- O.li
- o.a
3/
+ 9.6
no
- ¥.2
¥.i
-¥,2
n.e 3,o
3/
n.a.
2.0
1.1
Total loans (less interbank)
Business (excluding nonbank financial
or sales finance companies) 2/
Nonbank financial
Sales finance companies
(Business (including nonbank financial or sales finance companies))
Real estate
Security
Agricultural
Consumer
All other 2/
+
U. S e Government securities
- 5.7 + 0.1
- lt.7
Other securities
+ 0.5 + 0.9
+ o.i
-
- 0.5
+ o.5
— 0.6
l.it
0.5
0.6
0.1 + 1.3 + 0.8
0.1 + 0.2 + 0.1
¥.8
1.2
+ O.lt
0.2 - o.U + 0.5
0.2 - 0.2 + 0.2
1.7
0.6
3/
n • cle
0.1
0.9
0.2
0.2
0.1
0.2
0.2
0.2
0.8
— 0*3
- 3.5
- 1.3
+ 0.7
+ 0.3
+ 1.0
0.3
— 0.8 + 0.7 - 3.7 + 1.8 - 0.7 + 1.6
Total (less bank)
1/ Less than $50 million, n.a.—Not available, 2/ Data are on revised basis
bei
eginning June 1959 and exclude loans to nonbank financial institutions. For previous
years, loans to sales finance companies at weekly reporting banks have been shown
separately to provide roughly comparable changes in business loans on revised basis.
3/ Included in business and "all other." k/ Included with nonbank financial.
3/ Includes about $500 million net increase due to Sears transaction. 6/ Data are
Tor last Wednesday of June. 7/ Increase of $200 million due to reclassification of
foreign official loans into "other loans," 8/ As a result of bank structure changes
in January and April 1959 total credit increased about $700 million; total loans
$ii00
million; U. S. Government securities $200 million; and other securities
http://fraser.stlouisfed.org/
$100 million.
Federal Reserve Bank of St. Louis
L.U.3
Table 2
Change# in $@ans sad Tmrestaenta at Weekly Reporting
Meafeer Banks and Momreporfciaj ^
(is "billions ©f dollti1*]
Last Wednesday of May to 1.ast Wednesday of June
Item
Weekly reporting banks
1961
I960
+
+
+
+
0,3
0.6
0.1
1.0
+ 1.2
- O.ii
2/
+ 0.7
+
-
+ O.lt
— 0.1
+ 0.2
+ 0.5
- o.5
+ 0.1
+ o.L
+ 0.1
+
1959
1958
1957
1956
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
1.3
1.2
0.1
0.1
1.7
1.5
o.5
3.7
+ 1.7
— 1.0
2/
+ 0.7
+ 1.2
--J0.3
- 0.1
+ o.$
+ 1.0
- o.5
- 0.1
+ 0.6
+ K
0.1
+ O.li
— 0« 6
2/
+ 0.3
— O.lt
+ 0.2
O.h
+ 0.7
- 0.2
2/
+
+
+
+
NonreWting banks 1/
Total loans
U, S e Government securities
Other securities
Total loans and investments
Last Wednesday of Mav to last Wednesday of irune
Item
1955
Weekly reporting banks
1951*
1953
1952
1951
1950
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
+ i.h
- 1.2
2/
+ 0.2
+
+
+
+
+ 0.6
•= 0.5
+ 0.1
+ 0.6
- 0.5
2/
+ 0.2
- 0.1
+ 0.1
+ 0.1
+
+ 0,1
o.i*
0.7
0.2
1.2
+
+
+
0.1
O.ii
0.2
0.3
+ 0.5
+ o.8
+ 0.1
+
+
+
+
O.lt .
0.7
0.1
1.3
+
+ 0.2
- 0.3
+ 0.1
+
+
+
+
0.6
0.2
0.1
0.9
Nonreporting banks 1/
Total loans
U. S. Government
Other securities
Total loans and investments
0.6
- 0.3
+ 0.1
+ 0.2
- 0.5
+ 0.1
* 0,1
~ 0*2
1 / Beginning 1959* changes are on revised basis. Changes may not correspond exactly with
published data for weekly reporting banks because loans to foreign banks have been
excluded from this tabluation.
2/ Less than $50 million.
http://fraser.stlouisfed.org/
* Not for publication
Federal Reserve Bank of St. Louis
- 7 Table 2
L.U.3
Changes in $oans aid Investments at Weekly Reporting
Menber
and ffeaeei
Ullloas @f
Last Wednesday of December to last Wednesday of June
fiz
1960
1956
1961
1958
1959
1957
Item
Weekly reporting banks
E7
1/
Total loans
U. S. Government securities
Other securities
Total loansand investments
5/ 1.7
+ lijj.
+
-
O.ii
2.3
O.ii
2.3
+ 2.h
— ii.6
- 0.9
+ 6.2
+ 0.7
- 1.7
+ 2.8
- 3.5
- 0.3
- 0.1
+ 1.5
- 2.3
+ 6.8
+ 0.1
- 1.0
+ 2.2 3 A 2.9
- 2.k 3/- 0.9
- 0.2 3 A o.i
+ 1.3
+ 0.2
+ 0.6
+ 1.7
— l.li
+ O.ii
+ l.U
- 1.5
+ o.i
- 0.5 3/+ 2.1
+ 2.1
+ 0.8
+ 0.1
- 1.1
banks 1/
Total loans
U, S. Government securities
Other securities
Total loans and investments
Last Wednesday of December to last Wednesday of June
Item
Weekly reporting banks
+ 1.3
1955
1954
+ 2.7
- ii.8
+ 0.1
— l.ii
+ 0.9
+ 0.7
+ 0.2
3.8
2/.
UTo
+ 1.7
-0.9
+ 1.1
- 0.8
+ l.i
-0.9
+ 1.2
+ 0.5
1953
1952
1951
1950
+ O.lt
+ 0.3
+ Q.5
+ 1.3
- 2.5
* 0.7
+ 1.2
— 1.0
+ 0.2
•f^lel
- 0.5
+ 0.3
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
0.2
+ 1.1
+ 0.1
- 1.2
— 0.8
+ 0.7
+ 0.5
Nonreporting banks 1/
Total loans
U. S. Government
Other securities
Total loans and investments
2/
2/
3/
h/
F/
~
+ .0.h
+ 0.2
+ 0.1
+ l.l
— 0.6
+ 0.2
+ 0.7
+ 1.1
+ 0*3
* o.<
Beginning 1959, changes are on revised basis. Changes may not correspond exactly
with published data for weekly reporting banks because loans to foreign banks
have been excluded from this tabulation.
Less than $56 million.
As a result of bank structure changes in January and April 1959, total credit increased
over $600 million5 total loans $1*00 million; U. S, Gov't, securities, $200 million.
Call report data for December 31 ™1^59y and December 33-, I960, have been used.
Credit expansion overstated by $200 million due to reclassification of foreign interbank loans into "other loans."
* Not for publication
8 -
L.U.3
Table 3
Changes in Commercial and Industrial Loans 1/ 2/
(In millions of dollars)
~™
Business of Borrower
Last Wednesday in M a y to last Wednesday in June 3/
1961
Food processors
Commodity dealers
Trade concerns
Total
Sales finance
- 9
- 68
- 19
- 96
I960
=
+
-
v
1959
1958
1957
22
93
17.
98
+
-
57
1*8
1*6
59
+
+
5
11
6
+
+
k/
• 336
+
58
+
19
66
1*8
1
1956
1955
1951*
+
+
-
11
33
7
i5
+ 200
+
58
+ 25
- 96
- 35
- 106
+
-
+ 315
+
59
20
1*1*.
1*1*
20
+ 61*
+ 185 + 175
+ 136
+ 295
+ 396
+ 100
- 131*
+ 32
- k
+
-
39
27
+
+
6
31
+ 1*0
+ 201
+ 62
+ 170
+
+
+
+
+ 131
+ 19
+ 13
+ 93 '+ 1*1*
+ 112 + 180
+ 1*2 + 51*
+
+
+
57
73
30
+
97
351
+ 29
+ 222
+' 106
+
21*
+ 1*1
+ 217
+ 51
+ 27
+ 175
+ 17
+ 119
+
+
78
+
+
86
+
+
Classified
Unclassified
+ 279
f
17
+ 1*00 + 87I*
+ 76
+ 70
Total change
+ 296
+ 1*7 6 + 91*1*
+ 296
+ ii76 + 6 0 8 — + /180
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc.
Other manufacturing
and mining
Public utilities
Construction
All other types of
business
51 +
17 -
32
+ 133
+
85
33
1*0
61*
+ 1*71*
61*
+
y*i5
+ 21
+1,019' + 727
+ 63 y +138
CO
m
XA
+
+]^*36
+3,082
Total change excluding
sales finance
y
13
31
60
+ 231
+ 51*
+865 + 285
+ 227
1/ Prior to week ending January 11, 1956, includes changes in agricultural loans,
?/ At weekly reporting banks.
3/ For 1961, dates are May 31-June 26,* Comparable four week periods have been used
throughout. Therefore, for years I960, 1955, and 195b, these data are on a different
time basis than those shown in Table 1, 1*/ Not included in business loans on revised
basis. 5/ Includes CCC certificates of interest which are estimated to have declined
$51* million.
Not for publication
Table 3
Changes in Commercial and Industrial Loans 1/ 2/
(In millions of dollars)
~
Business of Borrower
Food processors
Commodity dealers
Trade concerns
Total
Lflat. Wednesdav in Decernl
bfir to 1ast Wednesday in June
,1961
I960
1958
1959
1956
1957
1955
195k
159
355
307
507
- 658
- 283
- 158
-3,099
- k56
- 539
1
- 996
+
-
5ko
k6l
lk6
855
- 505
- 363
- kl
- 909
+ 321
- 853
+ 366
- 322 . + 589
- 175
+ 935
+ 1362
+ 177
- 577
- k9k
- 325
- 177
- 996
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc.
Other manufacturing
and mining
Public utilities
Construction
All other types of
business
558
677
372
863
+
-
+
-
1/
1/
- 103
+1062
+ lk6
+ 177
+ 81
+ 273
— 52
+ 211
- 112
+ 8k
- lko
+ lk8
+ 291
+ 238
+ k2k
+ 220
+ 313
+
-
+ 2 h9
- 338
+ 55
+ 35k
- 18
+ 96
+ 199
- 156
+ 10k
+ 157
- 177
+ 56
+ 21k
+ 513
- 12
+ 369
+ 365
+ 5k
+ 153
+ 38k
+ 13k
1
+ 126
+ 71
+ 399
+ 155
+ 130
+
-
5k
+ lk9
+ lk3
+ 106
- h76 + 977
+3*008
+ 185
-3,758
- 180
+!ko5
- 155
+%12k
+ 119
+3^57
-3^1k
3/ -179 y -182
+%2k3
3/ +3^)78V -3,k96
69
+ 201
Total change
- 419
+1,178
+3,193
-3,938
+3^50
- 41? H,+3,178
+ 872
-3,085
+ 88k
,•§565 :3/ +k89
1—1
c\j
+
57
55
10
i
Classified
Unclassified
Total change excluding
sales finance
302
386
171
517
GO
Sales finance
+
-
1/ Prior to week ending January 11, 1956, includes changes in agricultural loans,
2/ At weekly reporting banks.
3/ Includes CCC certificates cf interest which are estimated to have declined $520 million.
5/ Includes CCC certificates of interest which are estimated to have increased $ 65
million. 5/ ^ot included in business loans on revised basis.
Not for publication
— 10
L. I4. 3
ee
Table It
Estimated Changes in Deposits and Currency
(In billions of dollars)
Item
Hemand deposit component
Currency component
Total
Seasonally adjusted data 2/
Demand deposits adjust eel
Currency outside banks
Total
Seasonal! unadjusted data 2/
Demand deposits 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. k/
Commercial
"~
Mutual savings
Bank holdings of U. S. Govt.
securities:
Federal Reserve
Commercial
Mutual saving and other
Gold stock and foreign
deposits at F. R. Banks
Other factors
1961
1 I960
1959
1958 1 1957
alf
of June
.Last half of May t.9 Jast.h
0.1
1/
+ O.J
0.1
—JT
757?
- 0.1
+ 0.1
+ 0.7
- 0.2
1 1956
+ 0.7
r-in
Last Wednesday of May t,o last Wednesday of June "5>7"
+ o.h
— 0.2
+ 0.2
+
—
+
+
+
+
j
+
+ 0.6
- 0.1
+ 0.5
0.2
+ 0.1
+ 0.2
0.1
0.1
.+ 0.3
1.0
+ 1.0
O.ti
+ 0.9
0.3
+ 0.2
1.0 1 + 0.1
+ 1.6
2.1
Isigns indicate
+ 0.2
+ 0.1
+ o.j
+ 0.1
— 0.1
3/
+ 0.2
+ o.e
+ 0.6
— 0*1
3 /
*
- 0.1
+1.0
+ 0.9
+ 0.1
+ ii.i
+ o.h
+ 0.2
- 0.5
+ O.h
effect
y
+ 0.9
3/
ro3
+ 0.7
+ 0.2
+ 0.9
0.8
+ 0.5
+ 0.9
0.1
0.7
+ l.it
+ 1.0
0.7
0.4
+ 0.7
0.3
+ 0.3
0.6 j1 - 0.1
0.7 I + 2.3
s and currency)
+
+
+
+
+
-
+ l.i;
+ 0.9
+ 0.2
+ 2.U
+ 1.8
+ 0.3
+ 2.0
+ 1.9
+ 0.2
+ 3.3
+ 2.9
+ 0.2
+ 2.3
'+ 2.1
+ 0.2
+ 2.3
+ 1.6
+ 0.2
+
+
+
—
+
—
0.6
0.3
1.0
0.2
- 1.9
3/
- 1.7
- 0.1
+
+
+
-
- 1.8
- 0.1
• - 1.6
- 0.1
+
—
- 0.1
- 0.1
- 0.5
+ 0.8
- 0.3
- 0.2
0.3
0.2
0.5
0.1
+ 0.2
+ 0.2
2.3
0.9
I.I4
0.1
3/
+ 0.2
0.5
0.4
0.7
0.2
, 3/
+ "5.5
1/ Averages of daily figures".'- 2/ seasonally adjusted data are for last Wockies'aa^ '
throughout; unadjusted data are for last Wednesday except in case of June and December
call dates, when available. 3/ Less than $$0 million. V Total includes foreign
loans on gold, holdings of bankers' acceptances at the Federal Reserve, and loans to
foreign banksj 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 irt reporting asset and liability items
used in computing "loans net." £/ Except for 1956, data are for last Wednesday of
June.
— 11 —
L. k. 3
Table U
Estimated Changes in Deposits and Currency
(in billions of dollars)
Item
Seasonally adjusted data 1/
bemand deposit component
Currency component
Total
Seasonally adjusted data 2/
Demand deposits adjusted
Currency outside banks
Total
Seasonally unadjusted data 2/
Demand deposits 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. U/
Commercial
""
Mutual savings
Bank holdings of U. S. Govt,
securities!
Federal Reserve
Commercial
Mutual saving and other
Gold stock and foreign
deposits at F. R. Banks
Other factors
1961
I960
1959
1958 1 1957
-^ast ha].f of December to last half of june
+ 1.5
- 2.1
+ l.l
^ 4
+
1.5
+ o.b
+ 1.8
+ 2.2
+ 0.1
* 2.3
- 0.3
3/
- 0.3
End of December to last. Wednesday of June
+
1.7
+ 0.1,
2.1
0.1
0.2
0.1
+ 0.1
1956
+ 1.1
+ 0.2
+ 1.2
6/
- 0.1
+ 0.9
3/
+ 0.9
3/
- o.i
+ 0.8
— 0.1
+ 2.0
+ 3.3
*-27?
+ 2.3
+ 2.3
+ 0.2
+ 0.2
+ 0.2
114
^37?
=1571
- 1.8
- 0.5
+
O.ii
- 0.7
+"T7F
"572
+ 0.3
- It.3
- 7.6
- l.l
- 577
+ 0.2
~3T
0.7
0.2
+ 0.9
+ 0.5
+ 0.9
-=~WS +~077
+ THT
+
+ 8.1
+ l.o
1.8 + 0.6
+ 0.7
+ 1.0
+ 7.2
+~l3
+ o.h
+ 0.9
+ O.h
+ 0.7
+ 1.0
+ o.5
+ 0.2
+ 0.1 + 0.3
+ 0.3
0.2 + 2.0 - 0.5
+ li.l — 0.6
- 0.1
+T7<r
57T
.7
+ J&.4
0.7
2,3
- signs
(si indicate effect on deposits and'currency)
- 1.1
+ 1.8
+ 1.1
~~TT?
+ 0.2
• 1.9
+ 0.3
=-53
+ l.o
3/
- 0.1
+ l.U
- 0.1
1.6
- 0.1
- 0.2
- 0.5
- 0.3
3/
- 0.2
3/
+ 0.2
±0.8
0.5
JUL
TTTR
Averages of daily figures. y seasonally adjusted"data are for last Wednesday'
throughout; unadjusted data are for last Wednesday except in case of June and December
call dates, when available. 3/ Less than $50 million, h/ 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." 5/ Due to the reclassification of deposits of foreign
central banks in May 1961 demand deposits adjusted were increased by about $1*00 million
and time deposits by about #1.5 billion; deposits of banks were reduced by about $1.9
billion. 6/ In January and April 1959, as a result of bank structure changes, demand
deposits adjusted were increased by about $200 million and time deposits bv about $500
Deposits at mutual savings banks were reduced $300 million. 6/ Except for
million.
http://fraser.stlouisfed.org/
1956, data are for last Wednesday of June throughout*
~
Federal Reserve Bank of St. Louis
*
L.U.3
- 12
-
Table $
Ratios to Total Deposits
U.S. Govt, securities maturing
within one year
All com-1
Member banks
ATT
mercial
|Central"re
ierve
keserve
commercial
Total
Country
banks
New York
Chlcagi
city
banks
23.3
26.0
23.7
21.1
18.9
27.3
14.3
28.2
31.0
27.7
30.3
31.1
23.4
14.0
31.?
31.3
30.4
35.9
33.4
27.1
14.2
31.1
30.9
34.9
25.6
32.4
28.5
19.2
36.1
35.8
42.5
38.1
32.3
31-5
15.2
37.2
46.3
37.6
36.2
32.1
39.4
9.8
50.6
39.3
41.1
39.9
38.9
33.9
11.7
4l.l
40.5
50.6
42.2
39.1
36.1
16.9
40.3
46.8
40.7
41.9
38.3
10.0
37.1
45.8
46.7
56.7
46.3
48.5
40.7
5.1
48.8
50.1
61.7
42.6
52.7
52.7
7.5
49.7
51.0
61.9
44.1
55.2
8.4
53.3
48.4
49.4
49.4
44.4
57.7
51.3
8.3
54.0
55.6
58.2
67.3
58.2
48.2
6.7
54.4
67.4
58.2
48.8
55.9
6.6
58.7
55.6
69.4
60.4
57.1
62.7
49.4
5.5
56.4
58.0
69.4
61.4
64.5
4.6
50.3
56.2
62.0
67.6
61.1
57.7
50.6
4.9
56.8
68.0
58.3
63.8
61.7
51.4
4.4
57.1
58.5
67.4
63.2
61.9
4.1
51.7
56.2
66.9
57.5
61.7
60.5
51.1
5.2
56.6
58.0
67.7
61.0
61.1
51.6
5.4
66.0
.56.3
57.6
61.4
60.6
6.4
51.5
61.4
56.7 .! 65.5
• 55.3
50.6
59.4
7.7
66.0
56.8
55:4
6O.3
6.1
59-7 1/50.A
55.1
60.8
56.5
65.9
59.0
8.1
50.3
LOANS
Date
1946
1947
1948
1949
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
I960
Jan. 27
Feb. 24
Mar. 30
Apr. 27
May- 25
June 29
July 27
Aug. 31
Sept.28
Oct. 26
Nov. 30
Dec. 31
31
31
31
31
31
31
31
31
31
31
31
31
31
31
1961: Jan. 25p
54.5
62.7
55.8
58.8
, 58.8
50.1
8.5
Mar. Ip
56.8
55.5
65.8
62.0 J
1
50.5
8.9
Mar. 29P
55:8
65.O
57.2
/6O.2 .y 51.0
64.7 1 'r?'
8.1
Apr. 26p
55.6
56.9
62.1 T 59.5
65.3
51.0
9.3
May- 31p
65.4
55.7
56.9
58.3
51.6
59.3
9.8
June 28p
63.9
55,5
57.5
56,6
58.9
51.8
n.a.
\J Total loans ( w
..
/T
VVLX
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,
Data not strictly comparable with previous figures as one large country "bank merged with
a central reserve city bank. 4/ Includes merger with nonmember.
Reserve city banks
reclassified to country banks, n.a. Not available.
- 13
L»h»3
Table 6
Free Reserves and Total Reserves Held
(Based on averages of daily figures; in millions of dollars)
Date
Total reserves
held seasonally
adjusted 1/
All
central reserve city Reserve
All
member New York
Chicago
city Country
member
Free reserves
(e:xcess reserves minus 1sorrowings)
Monthly averages:
1958:
1959:
Dec.
Dec.
I960: Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
- 41
- 425
- 80
- 109
- 32
- 104
- 197
- 449
268
237
18,602
18,671
-
—
-
- 90
— 126
- 152
- 100
- 49
- 59
- 39
- 38
5
2
4
4
-
439
381
252
254
173
120
128
62
44'
2
38
80
257
197
182
190
144
204
290
375
464
483
546
596
18,691
18,360
18,228
18,104
18,276
18,275
18,389
18,464
18,750
18,915
19,097
19,031
29
1
4
5
5
89
10
35
39
18
67
583
510
431
467
451
431
19,119
19,112
19,013
18,879
18,889
19,011
36O
361
219
195
33
4l
120
247
413
489
614
681
88
50
1
- 31
45
16
3
- 27
2
9
34
10
695
517
476
562
453
544
26
26
9
60
- 22
40
1961: May 31
522
46
2
65
4ll
n 0 8l 0
June 7
14
21
28
508
557
504
531
24
55
18
37
3
5
2
16
33
85
16
99
451
411
471
378
Ho GLo
n»a«
n • £Lo
H e EL *
July 5
482
10
5
72
395
ru a*
1961:
Jan.
Feb.
Mar.
Apr.
May
June
-
Weekly averages:
-
NOTE: Data for late June and July are preliminary„
1/ Data have been adjusted to exclude effect of changes in reserve requirements»
Not for publication
L.U.3
- 14 Table 7
Changes in Member Bank Reserves, with Relevant Factors
(Monthly average of daily figures; in millions of dollars)
J anuary-June
June
Item
. 1961
1960
1961
2/
Year ending Jun
1960
1961
- 622
+ 600
1 1960
Member bank reserves
Required reserves
1/
Effect of change in
requirements
Effect of deposit change
Excess reserves l/
Total reserves held
1/
Cash allowed as reserves 1/
Reserve balances
Total reserves held, seasonally
adjusted
+ 121
Effect of above
factors on reserves
58
— —
-
+
58
-
+
+ 179
+
3
55
+ 52
4 127
+
+
16
39
+ 122
-
1
58
87
mm mm mm
+ 121
mm mm mm
+
5
- 216
mm mm mm
- 622
+ 595
- 216
- 161
-
16
+ l4l
+
- 248
- 638
+ 741
- 157
- 108
- 140
- 11
- 627
-1,454
•-2P-95
+ 293
- 450
20
- 396
+ 736
- 158
-
87
59
(signs iiidicate el'feet on 1•eserves)
Principal factors
Currency in circulation
Gold stock and foreign
accounts
Treasury operations
Federal Reserve float Ji/
Other factors
Ji/
+
- 236
- 201
+ 773
+ 848
- 320
- 110
+ 78
- 36
+ 146
+ 23
- 40
+ 43
+ 132
- 122
- 434
+ 4o
- 400
+ 237
+
1
+ 53
- 253
+ 154
-1J352
+ 63
+ 106
+ 88
+
+
+
-
25
- 189
+ 216
+ 803
-1,915
- 100
+ 151
+ 228
- 356
-1,430
+ 46.1
- 750
+ 188
+ 205
- 17
2
+ 306
+ 421
- 115
1
- ?1?.
- 243
- 70
- 15
- 912
- 875
37
- 32
+ 811
+ 809
+
2
+
9
+ 161
+ 169
8
+
2
-
-
-
- 481
- 362
+
3
- 496
- 17
631
288
164
189
Federal Reserve loans and
investments:
Total
U. S. Govt, securities
Outright
Repurchase agreements
Acceptances
Discounts and advances:
To member banks
To others
33
2
77
-
24
4
1/ Preliminary fpr June 1961.
21 Computed on daily averages for December and June
3/ Beginning February I960, data are on new basis excluding
5
collected funds.
- 15 Table 8
L.U.3
Liquid Assets Held by the Public — Seasonally Adjusted Series
(Amounts in billions of dollars; ratios expressed as percentages)
End of
year or
month
Demand
Personal-type savings
deposits Total
Total adjusted personal- Time deposits Savings! U. S.
liquid
Govt,
and
adjusted 1/
type
and
assets currency . savings Commer- Mutual loan
savings
(2+3+8)
shares bonds
outside (I4.+5+6+7) cial savings
banks
2/
banks
1/
3/
banks 1/
6
7
1
It
3
2
<
1
950
"951
1952
1955
1954
1955
1956
1957
1958
1959
I960
Mar.
Apr.
Hay
-June
July
• * n-
C>e .
N.r-%
.
yOi
Je-.
Feb.
Ear.
A.rr.
i'fe,V ,
e
• Ratio:
I Ratio:
Commercial Commercial 1 Total
U. S. Govt
bank demand,bank deposits
liquid
securities
and time de- + currency to assets to
maturing posits adj.
gross
total liquid
within one
and currency
national
assets
year j>/
(2 + 10
product 6/
(9 + 1)
11
8
1
10
9
1
1
89.1
28.2
150.9
55.5
85.5
55.6
158.0
31.1
82.2
164.7
55-6
31.5
85.1
170.2
55-2
55.1
85.5
55.6
176.8
29.9
80.7
182.0
55.1
50.4
78.8
185-2
54.5
51.3
54.0
190.0
79.5
35.5
54.8
202.2
79.5
55-4
206.4
79.8
44.1
55.1
271 9
284.
296.2
508.3
318.0
330.3
559.9
551.7
568.9
588.7
114.6
120.2
124.1
126.6
150.0
155.5
134.5
133.6
158.8
140.2
129.0
152.7
140.6
148.6
158.1
166.4
174.1
182.8
196.7
204.4
56.5
57.8
40.6
45.6
46.8
48.5
50.7
56.4
63.4
66.2
25.0
25.6
25.2
26.7
28.5
50.0
51.6
55.0
55.1
55.9
14.0
16.1
19.2
22.8
27.2
32.0
37.0
4 1 .7
47.7
54.5
55.7
55-2
55-6
55.5
55.6
55.9
54.8
51-7
50.5
48.0
590.4
590.5
386.7
588.7
588.8
390.3
592.7
594.0
393-7
596.0
159.5
139.4
137.5
158.0
158.6
158.6
138.5
139.9
158.8
159.2
205.5
205.8
206.5
207.7
209.2
211.0
212.6
214.2
216.0
217.7
65.9
66.0
66.1
66.8
67.5
68.6
69.5
70.0
71.1
71.7
56.0
56.1
36.1
36.1
36.4
36.4
56.6
36.8
56.9
57.1
56.0
56.5
57-1
57.7
58.5
59.1
59.7
6O.5
61.1
61.8
47.4
47.2
47.2
47.1
47.0
46.9
47.0
46.9
46.9
47.1
45.6
45.5
42.7
45.0
41.0
40.7
41.6
59-9
58.9
59.1
205.4
205.4
205.6
204.8
206.1
207.2
207.8
209.9
209.9
210.9
52.6
52.6
52.7
52.7
55-0
55.1
52.9
55-5
53-5
53.3
140.7
398.1
400.8
159.4
140.4
403.9
406.8
141.5
4nm.n •E/.14.Q-B
219.5
221.4
222.7
224.0
PP7.4
72.2
75.7
74.1
74.8
7/ 77.3
57.3
37.3
37.5
37.6
17,7
62.6
65.2
63.9
64.5
65.2
47.2
47.2
47.2
47.1
47.2
58.1
40.0
40.8
41.3
39.8
212.9
215.1
214.5
216.3
218.1
53.5
53.2
53.1
55-2
55.5
For footnotes see
http://fraser.stlouisfed.org/
Federal Reserve Bank*of St. Louis
other side.
4
#
t
•
*
•
1
5
77.7
77.0
77.5
78.3
80.0
•
Preliminary.
Data for demand, and time deposits adjusted and currency outside banks are as of last Wednesday of month,
except that time deposits are as of June 30 and December $1 when call data for these dates were available.
Includes savings deposits in the Postal Savings System.
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.
Includes all types of savings bonds held by investors other than banks and U. S. Government agencies and
trust funds.
Beginning May 1953 includes all marketable securities maturing within one year (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 24 months; figures include holdings of insurance companies,
brokers and dealers, State and local governments, nonbank corporations, corporate pension funds, nonprofit institutions, foreign accounts, and individuals; prior to May 1953 includes securities callable
within one year.
Gross national product estimates are available quarterly and annually only. For 1950-58 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 average for four dates s each month of the current quarter and the
last month of the preceding quarter.
Demand deposits adjusted (before seasonal adjustment) was increased by $400 million and time deposits
adjusted (before seasonal adjustment) was increased by $1.5 billion due to the reclassification of
deposits of foreign official institutions which formerly were grouped with interbank deposits and
excluded from demand and time deposits adjusted.
- 16 Table 9
w
Money Supply
(Averages of daily figures.
Semimonthly
period
1954—Dec.
1955—Dec.
1956—Dec.
1957—Dec.
1958—Dec.
1959—Dec.
(2)
(2)
(2)
(2)
(2)
(2)
i960—Jan. (l)
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Wov.
Dec.
1961—Jan.
Feb.
Mar.
Apr.
May
June
(2)
(1)
(2)
(l)
(2)
(l)
(2)
(l)
(2)
(l)
(2)
(l)
(2)
(l)
(2)
(l)
(2)
(l)
(2)
(l)
(2)
(1)
(2)
(l)
(2)
(1)
(2)
(1)
(2)
(l)
(2)
(1)
(2)
(l)p
(2)p
In billions of dollars)
Seasonally adjusted
Demand
Curdeposits
Total
rency
1/
132.0
131.7
136.6
135.5
140.9
iiii.5
141.3
141.3
lUi.i
lit0.9
lii0.8
140.3
140.3
11*0.7
ll0.2
139.6
. 139.ii
139.1
. 139.6
, 139.7
, 139.7
, 139.8
llt0.3
llj0.5
1I4O.O
. 141.2
1^0.6
139.9
140.3
1^0.5
lli0.2
liil.o
141.3
141.1
141.1
142.0 ,
l4l.8 r
142.2 r .
142.0 ,
141.9
142.4
141.9
27.4
27.8
28.3
28.3
28.6
28.9
104.6
106.9
108.3
107.2
112.3
112.6
28.9
29.0
28.9
29.0
29.0
29.0
29.1
29.0
29.0
29.0
28.9
28.9
28.9
29.0
29.0
28.8
29.0
28.9
29.0
29.0
29.0
29.0
28.9
29.0
28.9
29.0
28.9
28.9
29.0
29.0
29.0
29.0
29.0
28.9
28.9
29.0
112.4
112.3
112.2
111.9
111.8
111.3
111.3
111.6
111.2
110.5
110.5
110.5
110.6
110.7
110.7
111.0
111.3
111.6
111.0
112.2
111.6
110.9
111.4
111.5
111.3
112.0
112.4
112.1
112.1
113.0
112.8
113.2
113.0
113.0
113.5
113.0
,
,
.
.
,
.
,
.
.
,
.
Without seasonal adjustment
Demand
Curdeposits
Total
rency
1/
135.7
138.5
140.4
139.3
144.9
145.4
145.2
143.6
141.8
139.6
140.0
138.6
139.6
.
140.9
, 139.0
137.0
138.2
137.9
138.2
139.3
139.6
138.2
139.9
• 139.6
.
139.8
141.4
141.7
141.2
143.3
144.4
144.0
143.4
142.0
139.6
140.1
140.0
140.9
142.4
140.8
139.3
141.1
140.4
27.9
28.3
28.8
28.9
29.2
29.5
29.1
28.5
28.7
, 28.5
28.7
28.6
28.9
28.6
28.8
28.7
29.0
28.8
29.3
29.0
29.2
28.9
. 29.2
28.9
29.2
29.0
29.2
29.3
29.5
29.6
29.1
28.5
28.6
28.5
28.7
28.6
28.8
28.6
28.8
28.6
29.0
28.9
107.9
110.2
"mZ
110.4
115.7
116.0
116.1
115.1
113.2
111.1
111.3
110.0
110.7
112.3
110.2
108.3
109.2
109.1
108.9
110.3
110.4
109.3
110.7
110.7
110.6
112.4
112.4
111.9
, 113.7
! 114.8
114.9
114.8
113.3
111.1
111.5
111.4
112.1
113.9
111.9
110.6
112.1
111.5
Loll.3
-
Year
or
month
- 17 Table 1 0
Deposits and Currency
(In billions of dollars)
(12)
(11)
(10)
(8)
(9)
(6)
(7)
(5)
(1)
(2)
(3)
CU)
Seasonally
Seasonally adjusted
! Tbtafl.
Time deposits
adjusted
money supply 1/
Cop- Ideposits
U. S.
Demand
money
£1 aad
Govt*
Cursupply and deposits Total Commer- Mutual Postal deposits outside 1
Demand
rency
Total
time dep. adjusted (7+8+9) cial savings savings
deposits
|
2/
outside
(2+3)
at comm.
adjusted
*11)
banks
banks(1+7)
End of Dec.
211t.8
2.1
27.9
106.6
lt6.8 26.3
5.1
176.8
103.1
26.9
130.0
75.3
1951t
221.0
28.3
lt.lt
1.9
106.1
181.9
109.9
U8.lt 28.1
78.lt
27 Jt
1955
133.5
226.lt
28.3
1.6
82.2
30.0
50.6
It.5
lll.lt
185.1
27.lt
1956
13lt.5 107.1
28.3
232.3
1*.7
89.1
1.3
110.3
5
6
a
31.7
105.8
27.8
189.7
133.6
1957
28.7
2lt7.5
1.1
lt.9
28.1
63.2
3lt.O
202.0
98.3
115.5
138.8
110.7
1958
252.lt
29.lt
5.8
101.8
0.9
28.2
206.1
65.9
ll5.lt
3U.9
11*0.2 112.0
1959 2/
I960:
28.1
2Wt.2
66.0 35.3
5.2
108.8
102.2
0.9
28.lt
111.1
Mar. 30
205.5
139.5
2U7.0
66.2
27.9
0.9
102.3
28.2
5.3
111.5
35.2
111.2
205.6
Apr. 27
139.lt
2lt6.1
28.1
102.6
0.9
66.5
28.2
20lt.0
35.2
7.7
107.7
109.3
May 25
137.5
28.3
2lt7
.7
0.8
7.8
103.6
28.1
67.lt
107.8
35.lt
205.lt
138.0 109.9
June 29
2lt9.6
28.lt
0.8
7.0
lGlt.2
110.1
28.3
206.5
67.9
110.3
138.6
July 27
35.5
2lt8.8
28.5
6.2
0.8
68.9
108.9
28.3
105.3
35.6
110.3
138.6
207.5
Aug. 31
251.8
28.3
8.2
0.8
106.0
69.lt
28.2
35.8
109.3
Sept.28
110.3
207.9
138.5
25U.O
28.3
0.8
6.7
112.2
106.7
70.0
28.lt
Oct. 26
209.9
35.9
111.5
139.9
6.1
0.8
28.7
253.5
208.8
111.9
106.7
28.2
70.0
110.6
138.8
35.9
Nov. 30
259.6
0.8
29.lt
6.7
210.6
108.5
111.0 28.2
115.1
71.lt 36.3
Dec. 31
139.2
1961:
28.0
l*.l
0.8
255.7
109.0
28.4
212.lt
lllt.7
36.5
Jan. 25p
11*0.7 112.3
71.7
28.2
256.0
110.6
36.6
6.5
110.7
0.7
Mar* Ip
28.5
212.7
73.3
139.lt 110.9
28.0
255.1
211*.6
110.3
111.9
lt.9
28.3
7lt.2 37.0
0.7
Mar. 29p
Ilt0.lt 112.1
0
2.8
,257.0
27.9
, , 216.5
36.9
Apr. 26p
,11(1.5 . 113*3 28.2
0.7
I A
28.lt 3/260.1
May 31p
ifUtO.8 k/112.3
kfisll
¥77.8
0.7
37.0
28.5 & 218.6
262.2
28.3
116.6
110.8
78.6
If
219.6
June 28p
37.3 I 0.7
Uil.O 112.? 28.3
p Preliminary.,
Seasonally adjusted series begins in 191*6 and is available only for last Wednesday of the month®
2/ At commercial, savings and Federal Reserve Banks. 3/ Demand deposits were reduced about $1*00 million as a result
of a technical change under Regulation D amending the definition of such deposits. On balance in 1959? as a result
of structure changes, demand deposits adjusted increased $ltO0 million, time deposits at commercial banks increased
$700 million, and time deposits at mutual savings banks declined $300 million, h/ Demand deposits adjusted increased $1*00 million and time deposits at commercial banks increased $1.5 billion due to the reclassification of
deposits of foreign central banks. Botes Data revised in accordance with Dee. 31, I960 call.
— 18 —
L.U.3
Table 11
Loans and Investments at All Commercial Banks
(in billions of dollars)
Date
1954:
1955:
1956:
1957:
1958:
1959:
Dec. 31
Dec.31
Dec. 31
Dec. 31
Dec. 31
June (old)
June (new)
Dec. 31 1/
I960: Mar. 30
Apr. 27
May 25
June 29
July 27
Aug. 31
Sept.28
Oct. 26
Nov. 50
Dec: 31
Loans
and
investments
155.7
160.3
164.5
169.3
184.4
184.2
184.2
189.5
183.4
186.2
185-9
186.7
188.6
189.0
191.4
193.8
193.9
198.5
u. s.
Other
Govt,
secur- Total
securities loans
ities
69.0 I6.3 70.4
61.6 16.7 82.0
58.6 16.3 89.7
58.2 17.9 93.2
66.4 20.6
97.5
20.6 102.6
60.9
20.6 102.8
6O.9
20.5 110.0
58.9
54.2
55.8
55.1
54.2
56.7
56.6
57.7
60.4
60.2
61.0
20.1 109.1
20.0 110.4
19.8 110.9
19.9 112.6
20.0 111.9
20.0 112.5
20.2 113.5
20.4 113.0
20.3 113.4
20.9 116.7
Noribsnk
financial
Con- institu- All
Busi- Real Secur- Farm
other
ity
sumer
ness estate
tions
26.9
33.2
38.7
40.5
40.4
42.5
37.8
40.2
18". 4
40.9
40.9
41.3
41.9
41.2
41.2
41.8
41.8
42.3
43.1
28.2
20.8
22.5
23.1
25.3
26.9
26.9
28.1
28.3
28.3
28.4
28.4
28.5
28.6
28.7
28.7
28.7
4.5
5.0
4.3
4.2
4.7
4.1
4.1
4.9
5.2
4.5
4.2
4.1
5.0
5.0
5.0
5.0
3.5
3.9
3.7
3.8
3.8
4.1
4.4
4.2
4.0
5.1
5.1
5.2
5.3
5.4
5.5
5.6
5.6
5.7
5.7
5.7
5 r6
10.9
13.2
14.6
15.8
15.9
17.5
17.5
18.8
19.0
19.3
19.5
19.8
19.9
20.0
20.1
20.1
20.1
20.1
6.5
6.9
7.2
8.2
8.8
5.9
7.1
7.6
6.6
6.8
8.0
6.7
7.1
7.0
6.8
6.7
6.2
6.1
7.1
8.1
8.3
8.4
8.5
8.3
8.5
8.6
8.5
8.8
9.2
6.1
8.9
20.0
28.7 4.2
Jan. 25
20.9 112.8 41.5
61.9
5.9
195.6
8.8
6.2
6.0 20.8
28.7 4.5
Mar. 1
61.3
21.3 114.4 41.8
197.0
20.7
8.7
6.1
5.8
28.8
4.1
114.2
42.6r
Mar. 29 P
21.7
195.6
59.7
8.6
6.1 20.6
21.8 114.7 42.2r 28.9 4.9
Apr. 26 P
5.7
6O.7
197.2
6.0
2|9.1
6.1 20.7r
5.0
May 31 P
21.9 115.5 42. Or 29.1
2/198.9
61.5
June 28 P
6.0 20.8
200.J 62.0 22.2 116.2 42 o 5 29.2 5.0
Ail.
p-Preliminary. 1/ Structure changes in 1959, on balance through August, added almost $1 billion to total
predit; $600 million in loans; $300 million in U. S. Government securities? and $100 million in other
securities# Heal estate loans increased about $300 million; business loans $100 million; consumer loans,
$100 million; and other loans $100 million. 2/ Increase of $200 million due to reclassification of
foreign interbank loans into other loans# Total loans are also affected by this same amount.
NOTE; Data exclude interbank loans. 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 loans19 have been revised to exclude loans to nonbaok financial institutions.
1961:
@FedFRASER