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L.4.3 Not for Publication % \ BANKING AND MONETARY D E V E L O P M E N T d > cP H % < May 1978 ^ Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System Table 1 Changes in Commercial Bank Credit, Money Stock, and Time Deposits (seasonally adjusted annual percentage rates) 1976 1978 1977 3rd Qtr. 4th Qtr. lstp Qtr. 10.2 9,3 9.9 Year Year 2nd Qtr. Total bank credit* 8.8 10.9 12.2 US Govt securities 22.3 -2.4 Other securities 2.3 6.6 10.7 7.5 4.6 Loans* 8.4 14.5 14.0 14.6 2.7 12.2 12.8 Real estate loans 10.3 18.3 Consumer loans 12.5 16.7 Business loans Mar P Apr P May P 7.6 18.6 15.8 -41.2 25.1 —6.1 5.3 5.3 15.0 5.9 15.5 12.6 15.8 18.5 21.5 11.2 11.7 16.3 23.6 17.5 33.2 17.6 18.3 17.8 16.1 15.9 15.0 19.4 17.6 16.1 15.5 14.6 19.0 18.7 4.3 -10.4 -20.3 - n.a. Adjusted to Include Loans Sold to Selected Affiliates 8.6 11.0 12.1 10.3 9.5 19.7 7.4 18.5 15.7 8.2 14.6 13.9 14.7 15.8 12.3 15.5 18.3 21.4 Business loans 2.6 12.2 12.8 11.2 11.7 16.3 23.6 17.5 32.8 Money s t o c k — M j 5.7 7.8 7.5 9.0 6.2 4.0 3.5 18.7 6.3 Total time deposits 8.0 11.4 8.9 19.9 -14.5 12.6 11.4 8.1 13.8 Time other than CDs 15.0 11.2 19.2 10.8 7.6 7.8 6.5 5.7 7.2 CDs (dollar changes in billions) -18.6 11.3 1.1 0.5 10.2 8.0 2.6 1.4 3.7 Total bank credit* Loans* 1/ Adjusted to exclude domestic interbank loans. n.a.—not available NOTE: Data revised to reflet revisions in seasonal factors and benchmarking to the December 31, 1977, Call Report• Table 2 Loans and Investments at All Commercial Banks (seasonally adjusted) Total Date J U.S. Gov't Other Loans* Securities Securities (in billions of dollars) 558.0 633.4 691.1 721.8 784.4 378.9 449.0 500.2 496.9 538.9 62.6 54.5 51.1 80.1 97.3 116.5 129.9 139.8 144.8 148.2 823.1 829.7 566.6 573.0 103.2 103.4 153.3 153.3 July 27 August 31 September 28 October 26 November 30 December 31 838.5 845.8 850.8 860.0 866.2 870.6 580.0 587.9 593.9 602.7 611.6 617.0 104.1 102.4 100.7 99.4 96.3 95.6 154.4 155.5 156.2 157.9 158.3 158.0 1978—January 25^ February 22 p March 29** April 26** May 3lP 880.6 886.6 892.2 906.0 917.9 624.9 628.2 636.5 646.3 657.9 96.3 99.0 95.6 97.6 97.1 159.4 159.4 160.1 162.1 162.9 1972—December 1973—December 1974—December 1975—December 1976——December 31 31 31 » 31 31 1 9 7 7 — M a y 25 June 30 1/ 2/ — 3/ — Adjusted to exclude domestic commercial interbank loans. Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million, of which $500 million were in loans and $100 million in "other securities. Beginning October 31, 1974, as the result of the liquidation of one large bank total loans were reduced by $1.0 billion; business loans by $0.6 billion; real estate loans by $0.2 billion; nonbank financial loans by $0.2 billion; and "other securities" by $0.5 billion; however, business loans were increased and real estate loans were reduced by $0.1 billion as a result of loan classifications at one large mideastern bank. NOTE: Data revised to reflect revisions in seasonal factors and benchmarking to the December 31, 1977, Call Report. Table 3 Loans Sold Outright by Commercial Banks and Bank Credit Adjusted for Selected Loan Sales Date Loans sold outright by commercial banks (outstanding in $ billions, NSA) 1 Total loans & investments Business Adjusted Original Loans Total Commercial bank credit (seasonally adjusted) Total loans Adjusted Original Businessi loans Adjusted Original 1972--December 1973--December 1974--December ' 1975--December 1976--December 2.6 4.3 4.8 4.4 3.8 1.7 2.6 2.7 2.5 2.4 558.0 633.4 691.1 721,8 785.1 560.6 637.7 695.9 726.2 788.9 378.9 449.0 500.2 496.9 538.9 381.5 453.3 505.0 501.3 542.7 130.4 156.6 183.5 176.2 179.7 132.1 159.2 186.2 178.7 182.1 1977--July 27 August 31 September 28 October 26 November 30 December 31 4.1 4.2 4.3 4.3 4.7 4.9 2.8 2.7 2.6 2.5 2.6 2.8 838.5 845.8 850.8 860.0 866.2 870.6 842.6 850.0 855.1 864.3 870.9 875.5 580.0 587.9 593.9 602.7 611.6 617.0 584.1 592.1 598.2 607.0 616.3 621.9 192.4 194.4 196.0 198.7 200.2 201.4' 195.2 197.1 198.6 201.2 202.8 204.2? 206.4 203.9 629.7 624.9 885.4 880.6 2.5 4.8 1978--January 25? 208.4 206.1 632.8 628.2 891.2 886.6 2.3 4.6 February 22? 212.5 210.3 641.0 636.5 896.7 892.2 2.2 4.5 March 29? 215.6 213.3 650.8 646.3 910.5 906.0 2.3 4.5 April 26? 221.5 219.2 662.4 657.9 922.4 917.9 2.3 4.5 May 31? p—preliminary 1/ To bank holding companies, affiliates, subsidiaries, and foreign branches. Beginning August 28, 1974, loans ~ sold outright to selected bank affiliates reflect a newly issued definition of the group of affiliates included as well as a somewhat different group of reporting banks. 2/ Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign banks. 3/ Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. "4/ Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember ~ commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans. 5/ Beginning October 31, 1974, as the result of the liquidation of one large bank, total loans and investments ~ were reduced by $1.5 billion; total loans by $1.0 billion; and business loans by $0.6 billion. However, as the result of loan reclassifications at another large bank, business loans were increased by $0.1 billion. 6/ Beginning March 31, 1976, as the result of loan reclassifications in Chicago City and in the San Francisco — District, business loans were reduced by $1.2 billion. 7/ Beginning December 31, 1977, business loans were reduced by $200 million as the result of loan reclassifications at one large bank. NOTE: Data revised to reflect revisions in seasonal factors and benchmarking to the December 31, 1977, Call Report. Table 4 Loans at Commercial Banks (seasonally adjusted) Business 1972—December 1973—-December 1974—December 1975—December 1976—December 31 31 31* * 31 31 1977—July 27 August 31 September 28 October 26 November 30 December 31^» Real Estate Consumer Security (in billions of dollars) Nonbank Financial Agriculture 130.4 156.6 183.5 176.2 179.7 98.1 117,7 130.2 134.4 149.0 71.8 83.2 86.8 89.7 100.9 14.7 12.1 11.3 12.2 17.3 22.1 29.0 33.8 28.5 26.0 14.5 17.5 18.4 20.4 23.5 192.4 194.4 196.0 198.7 200.2 201.44 163.6 166.3 168.8 170.9 174.0 176.6 4 110.0 111.9 113.4 114.7 116.3 117.8 18.8 18.8 19.2 18.9 20.1 18.7 24.7 25.0 25.2 26.0 26.0 26.1 25.4 25.6 26.0 26.1 26.1 26.0 26.5 25.8 21.5 119.1 178.8 203.9 1978—January 25 p 26.9 25.9 18.9 120.2 181.3 206.1 February 22P 27.3 25.8 17.3 122.1 183.7 210.3 March 29& 27.6 25.8 p 20.4 124.0 186.0 213.3 April 26 28.0 25.9 18.8 n.a. 189.0 219.2 May 31^ p—preliminary n.a.—not available 1/ Beginning June 30, 1974, data revised to include one large mutual savings bank which converted to a non~ member commercial bank. Real estate loans were increased by $0.5 billion. 2/ Beginning October 31, 1974, as the result of the liquidation of one large bank, business loans were ~~~ reduced by $0.6 billion, real estate loans by $0.2 billion, and nonbank financial loans by $0.2 billion. However, business loans were increased and real estate loans were reduced by $0.1 billion as the result of loan reclassifications at one large mideastern bank. 3/ Beginning March 31, 1976, as the result of loan reclassification business loans were reduced by $1200 million, real estate loans increased by $800 million, and nonbank financial loans by $200 million. 4/ Beginning December 31, 1977, business loans were reduced by $200 million and nonbank financial loans by $100 million while real estate loans were increased by $300 million as the result of reclassifications at one large bank. , NOTE: Data revised to reflect revisins in seasonal factors and benchmarking to the December 31, 19// Call Report. Table 5 Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted 1977 (in billions of dollars) 1978 Loans & Investments^ Ap ril +8 .7 May 4-9.,2 June 4-6,.6 July 4-8.8 August 4-7.3 Sept 4-5,.0 Oct 4-9.2 Nov 4-6 .2 Dec 4-4.4 Jan 4-10,.0 Feb 4-6 .0 March 4-5,.6 April 413 .8 May 4-11.,9 US Govt securities -0 .4 -HI.,3 4-0,.2 4-0.7 -1 .7 -1,.7 -1.3 -3 .1 -0 .7 4-0,.7 4-2.7 -3,.4 4-2.0 -0.,5 Other securities 4-2.8 4-0.9 4-0,.3 4-1.1 4-1 .1 4-0,.7 4-1.7 4-0.7 -0 .6 4-1,.4 1/ 4-0,.7 4-2.0 4-0,,8 +6 .3 4-6.7 4-6,.4 4-7.0 4-7.9 4-6,.0 4-8.8 4-8.9 4-5.4 4-7,.9 4-3.3 4-8,.3 , 4-9.8 4-11.,6 +2 .0 +2 .2 +1 .6 +0 .8 -0 .1 +0 .4 -0 .6 4-1.8 4-2.2 4-1.5 4-0.5 -0.2 4-0.4 4-0.5 4-2,,1 4-2,.4 4-1,.5 -0,,1 -0,.9 4-0,,4 +0,.8 4-2.0 4-2.2 4-1.0 4-0.1 4-0.1 -o. I 4-1.T 4-2.0 4-2.7 +1 .9 1/ 4-0.3 4-0.1 4-0.9 4-1,.6 4-2.• 5 4-1,,5 4-0,.4 4-0,• 2 4-0,.3 -0,,5 4-2.7 4-2.1 +1. 3 -0.3 4-0.8 4-0.3 4-1.9 4-1.5 4-3.1 4-1.6 4-1.2 1/ 4-0.1 4-1.4 4-1.4 4-2.3 4-1.5 -1 .4 4-0.2 4-0.1 4-1.3 4-2,.5 4-2,.2 4-1,.3 4-2,.8 -0,.3 4-0,.5 -0,.7 4-2.2 4-2.5 4-1 .1 -2 .6 4-0.1 4-0.4 1/ 4-4,.2 4-2,.4 4-1,.9 -1,.6 -0,.1 4-0,.4 4-1,.4 4-3 .0 4-2.3 4-1.9 4-3.1 1/ 4-0.3 -0 .6 Loans 2 Business Real estate Consumer Security Nonbank financial Agriculture All other 4-5.,9 4-3.,0 n,.a, -1,,6 4-0.,1 4-0.,4 n,.a Adjuisted for Loans Sold to Affiliates Loans & Investments +8 .7 4-9.2 4-6.,6 4-8.9 4-7.4 4-5.,1 4-9.2 +6 .6 4-4.6 4-9,.9 4-5.8 4-5,.5 4-13.8 +11.,9 US Govt securities -0 .4 +1. 3 +0,,2 4-0.7 -1 .7 -1,,7 -1.3 -3 .1 - 0 .7 4-0,J 4-2.7 -3,.4 4-2 .0 -0.,5 Other securities 4-2.8 4-0.9 4-0,,3 4-1,1 4-1.1 4-0,J 4-1.7 4-0.4 -0 .3 4-1.,4' 4-0,J 4-2.0 4-0.,8 Loans^ 4-6.3 4-6.7 4-6,,4 4-7.1 4-8.0 4-6,>1 4-8.8 4-9.3 4-5.6 4-7.,8 4-3.1 4-8,.2 4-9.8 4-11..6 4-2.1 4-1,8 +2.,1 4-2.0 4-1.9 4-1.,5 4-2.6 4-1.6 4-1.6 4-2.• 2 4-2.0 4-4,,1 4-3.1 4-5.,9 Business 17 Less than $50 million, 2/ Adjusted to exclude interbank loans. NOTE: Data revised to reflect revisions in seasonal factors and benchmarking to the December 31, 1977, Call Report# 1/ Table 6 Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, not seasonally adjusted Adjusted for loans sold (in billions of dollars) Item 1973 1974 1975 1976 1977 1978P to Last Wednesday of May Last Wednesday of March All Commercial Banks^ +14.8 Total loans U.S. Gov't, securities -3.0 +0.3 Other securities +12.1 Total +8.8 -1.0 +0.3 +8.1 +4.0 +0.4 -0.4 +3.9 -1.4 +1.7 1/ +0.3 +7.5 -2.3 +0.7 +5.9 +8.3 -2.1 +1.3 +7.6 All Large Banks Total loans US Govt securities " Other securities Total +9.5 -1.1 -0.4 +8.0 +3.5 1/ +0.2 +3.6 +0.7 1/ -0.7 -2.3 +1.7 +4.1 —0.8 +0.1 -1.3 +4.5 -1.6 1/ +3.0 Other Banks^'^ Total loans US Govt securities Other securities Total +5.3 -1.9 +0.7 +4.1 +5.3 -1.0 +0.1 +4.5 +3.2 +0.4 +0.2 +3.8 +1.0 1/ +0.6 +1.6 +3.0 —0.8 +0.7 +3.0 —0.6 +0.6 1972 +6.2 -1.3 +1.2 +6.1 +3.0 +0.2 +0.4 +4.0 +3.6 +4.2 -1.3 +0.7 +3.5 -0.8 +0.8 +3.6 +3.5 End of December to Last Wednesday of May All Commercial Banks^ Total loans US Govt securities Other securities Total +26.8 -3.6 +4.6 +27.7 +15.3 -0.1 +4.4 +19.6 -1.6 +6.7 -0.5 +4.6 -19.2 +10.5 +1.2 -7.4 +23.3 -4.2 +4.9 +23.9 +30.4 -8.7 -+2.8 +24.5 +12.9 -3.7 +6.2 +15.4 All Large Banks^ Total loans US Govt securities Other securities Total +8.2 -3.6 +0.7 + 5.3 -1.5 -3.2 +2.3 -2.4 -11.0 +0.8 -1.3 -11.5 -20.6 +6.2 -2.8 -17.2 +12.3 -3.9 +0.3 +8.7 +17.4 -6.3 —0.6 +10.5 +4.9 -2.6 +1.7 +4.0 Other Banks Total loans US Govt securities Other securities Total +18.5 1/ +3.9 +22.4 +16.8 +3.1 +2.1 +22.0 +9.4 +5.9 +0.8 +16.1 +1.3 +4.3 +4.0 +9.7 +10.9 -0.3 +4.6 +15.2 +12.9 -2.4 +3.4 +14.0 +8.4 -1.1 +4.5 +11.8 r—revised p—preliminary 1J Less than $500 million. 2/ Based on revised reporting beginning July 1969. Changes have been adjusted to maintain comparability of series. 3/ Based on revised coverage beginning July 1966 and January 1967-1978. NOTE: Data exclude all interbank loans; call report data for large banks used when available. Loans adjusted to include all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. Allowance has been made in monthly changes for all loan and security reclassifications. For description of reclassifications, see Tables 3 and 8. Table 7 Changes in Commercial and Industrial Loans at Large Commercial Banks (in millions of dollars) Business of Borrower 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 Communication Other Public Utilities Construction All Other Types of Business Bankers Acceptances Services Other Foreign Business Concerns^ Classified Unclassified Total Change 1974 Late April to Late May * 1975 1976 1977 -267 -305 +112 +119 -7 +8 -15 +7 -56 +72 +2 +287 +8 +126 -159 -190 -300 -48 -252 -544 -96 -248 —64 -136 -58 +80 -56 -189 -102 +151 +142 +145 -3 -189 +82 -102 -96 -73 +104 +105 -78 —60 +6 -94 +568 +69 +102 +397 +318 +263 +124 +1 +138 +132 +1164 —46 +1118 -43 -56 -459 -186 -89 -184 -13 -399 +12 -128 -283 -117 -2503 -131 -2634 -5 +120 +337 -70 +134 +273 -73 -596 -184 -93 -319 +59 -85 +124 +39 — — -228 +8 +138 -130 +28 +11 +21 +9 -13 +113 +79 -39 +28 ~ +227 -12 -51 -30 +69 +111 +38 -244 +189 +93 -305 +48 +309 +357 I 1978 P Late December to Late May2 1974 1975 1976 1977 1978 P +260 +341 +473 +373 +100 +379 +97 +181 +80 +21 +221 +21 +4 +179 -105 -185 +1667 +979 +688 +2430 +85 +1372 +532 +441 +696 +148 +500 +751 -1290 -786 -1235 -359 -876 -1463 +41 -1167 -193 -144 -399 +351 -169 -658 -724 +168 +359 +162 +197 -1491 +23 -601 -591 -322 +482 +54 -126 -126 -249 —146 +998 +574 +424 +610 +143 +125 +152 +190 +423 -159 +175 +239 +432 +589 +2292 +1195 +1097 +1752 +56 +693 +446 +557 +619 -110 +587 +311 +64 +296 +142 +73 +112 -43 +601 +631 +212 +425 -6 +31 +3643 +354 +3997 +218 +350 +1218 +167 +517 +534 +416 +996 +142 +489 +365 +405 +4505 +1127 +10632 -379 -22 -1231 -135 +12 -1108 -294 -713 +486 -1083 -116 +160 -8128 -383 -8511 —16 +878 -1129 -201 -206 -722 -1100 -4775 -1829 —64 -2882 +204 -7342 -730 -8072 +139 +470 -500 -171 -99 -230 +220 -2923 —3160 +297 -60 -709 -1412 +1894 +482 -21 +1083 -15 +91 +274 -380 +525 -1024 -2917 +1498 +395 -170 +6850 +1921 +8771 _1/ Five most comparable weeks used throughout. 2/ Changes are compiled from December 26, 1973; December 25, 1974; December 24, 1975; December 29, 1976; and December 28, 1977. These data cannot be linked with all commercial bank data which are always for December 31. Date 1973-—Dec 1974-—Dec 1975-—Dec 1976-—Dec Table 8 Loans and Investments of All Commercial Banks (In billions of dollars, not seasonally adjusted^ Other Loans and US SecuTotal Real Investments Govt rities Loans Business Estate Security 31 647.3 58,3 130.6 458.5 118.0 14.6 159.4 31 1 , 2 705.6 54.5 140.5 510.7 130.6 13.7 186.8 31 737.0 84.1 145.5 507.4 134.8 179.3 14.8 0 31 801.6 102.5 148.9 550.2 149.5 182.9 21.2 Farm 17.3 18.2 20.2 23.3 1977--May Jun Jul Aug Sep Oct Nov Dec 25 30 27 31 28 26 30 31 821.1 835.5 834.8 843.9 849.9 858.2 869.3 888.9 102.4 101.6 100.1 99.7 98.8 98.2 98.5 100.2 153.4 154.1 154.4 155.3 156.1 157.3 158.8 158.8 565.3 579.8 580.3 588.9 595.0 602.6 612.1 629.9 188.4 192.7 192.4 193.6 195.3 198.2 200.2 205.0 4 158 4 161.3 163.8 167.0 169.6 171.9 174.7 177.2 18.7 18.9 18.0 18.4 18.5 18.4 20.6 22.9 24.9 25.6 25.9 26.1 26.3 26.1 25.9 25.7 106.7 109.0 110.6 113.0 114.6 115.6 116.6 118.7 25.3 25.2 25.0 25.2 25.3 25.7 26.1 27.1 42.9 47.1 44.6 • 45.6 45.4 ' 46.7 48,0 53.4 1978--Jan Feb Mar Apr May 25P 22P 29P 26 p 31 p 876.1 878.4 889.7 904.9 917.0 97.9 99.6 98.6 99.6 96.6 158.8 158.5 159.6 163.1 163.4 619.3 620.3 631.6 642.3 657.1 201.7 204.2 210.0 213.8 219.2 178.6 180.2 182.6 185.1 188.2 21.1 17.8 17.3 19.2 19.1 26.0 26.4 27.0 27.5 28.1 118.7 118.9 120.4 122.8 n.a. 25.3 25.3 25.5 25.5 25.9 47.9 47.5 48.8 48.4 n.a Nonbank Financial All Consumer Inst. Other 83.7 30.5 35.0 87.3 35.2 38.8 38.4 90.2 29.6 101.7 27.0 44.6 n.a.—not available NOTE: Data exclude domestic interbank loans. Consumer and other loans were partly estimated for all dates. Other data are partly estimated on all but June and December call dates. y Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $300 million of which $500 million were in loans and $100 million in "other securities." 2/ Beginning October 31, 1974, as the result of the liquidation of one large bank, total loans were reduced by $1.0 billion, business loans by $0.6 billion, real estate loans by $0.2 billion, nonbank financial loans by $0.2 billion, and "other securities" by $0.5 billion. However, business loans were increased and real estate loans reduced by $0.1 billion as the result of loan reclassifications at one large mideastern bank. V Beginning March 31, 1976 as the result of loan reclassifications, business loans were reduced by $1200 million, real estate loans increased by $800 million, nonbank financial by $200 million and other loans by $200 million. 4/ Beginning December 31, 1977, business loans were reduced by $200 million and nonbank financial by $100 million, while real estate loans were increased by $300 million as the result of reclassification at one large bank. *Data revised beginning July 1977 to reflect benchmarking to December 1977 Call. http://fraser.stlouisfed.org/ # Federal Reserve Bank of St. # Louis # e # e e # Table 9 Liquidity Ratios Liquid Assets to Liabilities at Large Commercial Banks 1 Borrowing Ratios at Large Commercial Banks4 Loans to Deposits at all Commercial Banks^ 1972—December 1973—December 1974—December 1975—December 1976—December 1977—December 13.0 11.0 9.7 13.0 14.1 14.0 22.5 29.4 32.7 37.3(30.2) 34.6(29.3) 36.5(30.9) 67.9(67.7 72.0(71.8 72.9(72.5 68.7(68.3 69.7(69.1 72.2(71.7 1977—January February March April May June July August September October November December 14.0 13.2 13.2 13.7 13.1 13.5 13.3 13.5 13.5 13.4 13.8 14.0 33.5(28.2) 33.0(27.6) 32.8(27.6) 32.6(27.4) 33.4(28.3) 33.1(27.9) 33.3(28.0) 33.6(28.3) 34.2(28.9) 34.9(29.5) 35.8(30.3) 36.5(30.9) 70.4(70.0 70.4(70.1 70.5(70.2 71.1(70.8 72.2(71.8 71.7(71.3 72.5(72.2 72.6(72.3 73.3(72.9 73.6(73.1 73.2(72.8 72.2(71.7 1978—January February March April May 13.4 12.5 12.1 12.3 11.4 36.9(30.7) 36.9(31.1) 37.0(31.2) 37.3(31.5) 37.6(31.7) 73.8(73.3 73.3(72.9 74.0(73.6 74.5(74.1 74.5(74.1 1 Monthly averages of Wednesday figures. Liquid assets include Treasury and other securities maturing in one year or less, loans to brokers and dealers and domestic commercial banks, holdings of bankers acceptanes and gross sales of Federal funds. Liabilities are total liabilities less capital accounts, valuation reserves, and demand deposits due to banks. Monthly averages of Wednesday figures. The numerator includes gross liabilities of banks to their foreign branches, large negotiable CD's, Federal funds purchased, and borrowings from others. Beginning in 1975 all large time deposits are included; the figures in parentheses include negotiable CD's only to maintain comparability with earlier data. The denominator is total assets less Federal funds sold less cash items in process of collection. Last Wednesday of the month except for June and December Call dates • Total loans exclude loans to banks and total deposits exclude cash items in process of collection. Ratios in parentheses and those obtained by adding Euro-dollars to the deposit base. V M Date 1973--Dec 1974--Dec 1975--Dec 1976--Dec 270.5 282.8 294.5 312.6 571.4 812.1 664.1 739.6 Table 10 Money Stock Measures and Deposit Turnover (seasonally adjusted; dollar amounts in billions) Time Other Total than Demand M 3 3 time CDs Currency Deposits CDs 300.9 363.9 63.0 61.5 209.0 919.2 418.3 329.3 89.0 67.8 215.1 981.2 450.9 369.6 81.3 73.7 220.8 1091.8 427.0 489.7 62.7 80.7 231.9 1235.6 1977--Apr May Jun Jul Aug Sep Oct Nov Dec 322.0 322.4 324.3 327.5 329.2 331.6 334.6 334.7 336.7 764.9 768.4 774.2 782.9 787.9 793.8 800.2 803.8 807.6 1282.2 1290.9 1302.0 1317.2 1330.0 1343.5 1356.7 1365.5 1374.2 83.1 83.8 84.2 85.1 85.5 86.3 87.1 87.7 88.5 238.9 238.6 240.1 242.3 243.7 245.3 247.5 247.0 248.2 61.6 62.9 63.3 62.8 63.2 63.8 66.4 70.9 74.0 442.9 446.0 449.9 455.5 458.7 462.1 465.5 469.1 470.9 504.5 508.9 513.2 518.3 521.9 525.9 531.9 540.0 544.9 517.3 522.4 527.8 534.3 542.1 549.8 556.5 561.7 566.6 3.7 2.3 3.2 3.0 3.2 3.3 3.1 3.0 3.6 86.4 89.4 88.8 86.2 84.6 84.3 82.0 88.6 86.8 1978-—Jan Feb Mar Apr MayP Week Ending April 3 10 17 24 31 339.4 339.1 340.1 345.4 347.2 813.6 816.6 820.2 827.8 89.3 90.0 90.6 91.2 92.1 250.1 249.1 249.5 254.3 255.1 76.3 79.4 82.0 83.4 87.1 474.2 477.5 480.1 482.4 485.3 550.5 556.8 562.1 565.9 572.4 570.7 574.0 577.7 581.1 584.6 3.1 3.0 3.4 3.3 832.5 1384.3 1390.6 1397.8 1409.0 1417.1 89.0 90.7 r 92.1 92.6 n.a. 350.5 346.3 346.3 345.5 349.7 833.6 830.3 831.5 837.3 837.3 n.a. n.a. n.a. n.a. n.a. 91.8 91.9 92.1 92.2 92.5 258.7 254.4 254.1 253.2 257.2 85.8 86.7 86.9 87.6 87.8 483.1 484.0 485.3 486.1 487.6 568.8 570.7 572.2 573.7 575.3 n.a. n.a. n.a. n.a. n.a. 3.0 2.2 2.1 3.1 2.9 n.a. n.a. n.a. n.a. n.a. 22 Nonbank US Govt Turnover Thrift deposits outside (all InstiNYC (%) tutions^ member) 347.8 5.0 65.0 74.8 369.1 3.3 427.8 2.9 73.7 496.0 83.7 3.2 n . a . — n o t available p—preliminary r-revised J./ Includes (1) demand deposits at all commercial banks other than those due to domestic commercial banks and the U.S. Government, less cash items in process of collection, and FR float, (2) foreign demand balances at FR Banks, and (3) currency outside the Treasury, FR Banks, and vaults of all commercial banks. 2/ Includes in addition to currency and demand deposits, savings deposits, time deposits open account, and time certificates of deposit other than negotiable time certificates of deposit issued in denominations of $100,000 or more by large weekly reporting commercial banks. 3/ Includes M^ plus the average of the beginning and end of month deposits of mutual savings banks, savings and loan snares, and credit union shares. 4/ Average of beginning and end of month deposits at mutual savings banks, savings and loan shares, and credit union shares. ^ y http://fraser.stlouisfed.org/ # # # e # # # • Federal Reserve Bank of St. • Louis
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