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June L . 4 .3 Not for Publication 19, 1972 8 f ! * 4 ^ X < c ? rv s BANKING AND MONETARY DEVELOPMENTS May 197? Banking Section D i v i s i o n of R e s e a r c h and Statistics Board of Governors of the F e d e r a l Reserve System TABLE Changes 1 in C o m m e r c i a l B a n k C r e d i t , M o n e y S t o c k , and Time D e p o s i t s S e a s o n a l l y adjusted a n n u a l rates 1969 1970 1971 1972 4 th 1st Year Year Year Qtr . Qtr. Total b a n k credit U .S . G o v ' t . sec . Other securities Loans Business L o a n s Loans Business Loans M o n e y stock Time d e p o s i t s 1972 Apr. May 2.9 8.4 11.4 11.1 15.1 3.6 19.0 -15.7 12.6 4.7 5 .3 9.9 3.9 7.7 -0.3 20.6 20.7 20.1 16.1 -1.1 23.2 8.2 4.5 12 .5 9.7 15.8 5 .4 19.7 10.2 3.7 5.4 -2.4 9.0 13.2 13.1 Adjusted T o t a l bank credit (per c e n t ) for loan sales to b a n k affiliates 3.9 8.1 11.3 11.1 15.1 3.6 18.4 9.7 4.1 9.9 9.4 15.7 5.0 18.8 12.9 3.1 4.8 -3.4 9.6 12 .0 10.9 3.2 5.4 6.2 1.1 9.3 7.7 4.1 -4.9 17.9 17.9 15.9 14.8 12.4 17.8 TABLE 2 Loans and Investments at All Commercial Banks (Seasonally Adjusted) Date Total Loans ( I n b i l l i o n s U.S. Gov't. securities of d o l l a r s Other securities ) 1968--Dec. 1969--Dec. 31 312/ 390.6 402.1 258.2 279.4 61.0 51.5 71.4 71.2 1970--Sept. Oct. Nov. Dec. 30 28 25 31 424.3 426.2 429.3 435.9 288.4 289.1 290.0 292.0 56.8 56.3 56.3 58.0 79.2 80.8 83.0 85 .9 440.7 446.1 3/ 449.5 452.5 456.1 461.1 58.9 60.8 61.1 60.7 60.4 62.8 463.7 468.4 472.4 477.2 479.8 485.7 293.7 295 .7 3/ 2 96.5 298.2 300.7 302.4 301.7 304.1 309.7 313.0 317.0 318.7 320.6 61.6 60.9 59.9 59.1 58.8 60.7 88.1 89.6 91.9 93.5 95.1 95.9 96.6 98.0 97.8 99.5 101.1 102.2 104.5 491.4 496.6 504 .3 505 .8 513.8 325.7 328.5 333.3 334.8 340.3 59.7 61.0 62.2 62.4 62.8 106.0 107.1 108.7 108.6 110.7 1971--Jan. Feb. Mar. Apr. May June 27 24 31 28 26 30 (old) (new)4/ July 28 Aug. 25 Sept. 2 9 Oct. 27 Nov. 24 Dec. 31 1972--Jan . Feb. Mar. Apr. May 1/ 2/ J3/ 4/ 26 23 29 p 26 p 31 p Adjusted to exclude domestic commercial interbank loans. p - Preliminary. Beginning July 1969, bank credit data are revised to include all bank premises subsidiaries and other significant majority-owned domestic subsidiaries; earlier data for commercial banks only. Also total loans and investments are now reported gross of valuation reserves rather than net as previously reported. Individual loan items have always been reported gross. Includes $800 million System matched sale-purchase transactions outstanding on Feb. 24. Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million are included in other securities; previously they had been included in real estate 1oansx TABLE 3 LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED *FOR SELECTED LOAN SALES Loans sold outright by commercial banks fontstanding in billions of dollars N.S.A .) Sold to Sold to nonbank public 2/ Affiliates 1/ Business Business )us iness Total Total Total Date Commercial bank credit (seasonally ad lusted) Total loans and investments Ad lusted 3/ Original 1 9 7 1 — J a n . 27 Feb. 24 Mar . 31 Apr. 28 May 26 June 30(old) June 30(new) July 28 Aug. 25 Sept.29 Oct. 27 Nov. 24 Dec. 31 4.6 4.5 4.5 4.4 4.5 4.7 2.5 2.5 2.3 2.3 2.3 2.3 2.9 2.9 2.9 2.7 2.8 3.1 2.1 2.1 1.9 1.9 1.9 1.9 1.7 1.6 1.6 1.7 1.7 1.6 0.4 0.4 0.4 0.4 0.4 0.4 440.7 , 446.1449.5 452.5 456.1 461.1 443.6 , 449.(A' 452 .4 455.2 458.9 464 .1 4.4 4.4 4.6 4.5 4.4 4.5 2.2 2.3 2.3 ? .2 2 .2 2.0 2.8 2.8 3.0 2.9 2.8 2.8 1.8 1.8 1.9 1.8 1.8 1.6 1.6 1.6 1.6 1.6 1.6 1.7 0.4 0.5 0.4 0.4 0.4 0.4 463.7 468.4 472.4 477.2 479.8 485.7 1 9 7 2 — Jan. Feb. Mar. Apr. May 4.6 4.5 4.4 4.4 4.2 2.1 2.0 2.2 2.1 1.9 3.0 2.9 2.8 2.7 2.5 1.7 1.7 1.8 1.7 1.5 1.6 1.6 1.6 1.7 1.7 0.4 0.3 0.4 0.4 0.4 5/ -0.1 5/ 0.1 5/ -0.1 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 5/ 0.1 -0.1 5/ 5/ 26 23 29 p 26 p 31 p Total loans Ad lusted 3/ Original Business loans Ad lusted 4/ Original 296.6 , 298.6— 299.3 300.9 303.5 305.5 304.8 307.0 312.4 316.0 319.3 320.3 323.4 110.3 111.3 111.1 111.7 112.6 112.1 112.4 113.4 113.0 113.6 114.5 114.0 466.5 471.1 475 .4 480.1 482.6 488.6 293.7,, 295.7296.5 298.2 300.7 302.4 301.7 304.1 309.7 313.0 316.3 317.5 320.6 113.2 115.2 116.2 116.6 116.0 115.5 115.0 117.0 118.1 118.4 117.8 117.1 491.4 496.6 504.3 505.8 513.8 494.4 499.5 507.0 508.5 516.3 325.7 328.5 333.3 334.8 340.3 328.7 331.5 336.1 337.5 342.8 116.4 117.3 118.1 119.4 120.7 118.1 119.0 119.9 121.1 122.2 13.2 14.7 9.1 8.0 9.5 13.2 6.8 12.2 10.2 12.2 6.5 14.8 12.8 14.6 9.1 7.4 9.8 13.3 6.2 11.8 11.0 11.9 6.2 14.9 7.0 8.2 3.2 6.9 10.1 6.8 9.5 22.1 12.8 15.3 6.4 7.2 6.9 8.1 2.8 6.4 10.4 7.9 8.7 21.1 13.8 14.8 6 .4 6.7 7.7 10.9 -2.2 6.5 9.7 -5.3 11.8 21.2 10.4 4.1 -6.2 -5.2 7.5 10.7 -4.2 6 .4 9.5 -5.2 10.5 20.9 11.3 3.0 -6.1 -7.1 14.1 12.7 18.6 3.6 19.0 14.2 12.4 18.0 3.6 18.4 19.1 10.3 17.5 5.4 19.7 19.7 10.2 16.7 5.0 18.8 9.4 9.3 8.2 13.2 13.1 10.2 9.1 9.1 12.0 10.9 Net Chainge (Bi llions o f dollars) 1 9 7 1 — J a n . 27 Feb. 24 Mar. 31 Apr. 28 May 26 June 30 July 28 Aug. 25 Sept.29 Oct. 27 Nov. 24 Dec . 31 1972—Jan. Feb. Mar. Apr. (May . 26 23 29 p 26 p 31 p 5/ -0.1 5/ -0.1 .0.1 0.2 -0.3 5/ 0.2 -0.1 -0.1 0.1 0.1 -0.1 -0.1 5/ -0.2 5/ 5/ -0.2 5/ 5/ 5/ -0.1 5/ 0.1 -0.1 —— 5/ -0.1 5/ -0.2 0.1 0.3 -0.3 5/ 0.2 -0.1 -0.1 -- -0.2 o.r 5/ -0.2 0.1 0.1 -0.1 0.2 -0.1 -0.2 0.1 -0.1 -0.1 -0.1 -0.2 0.1 5/ 0.1 -0.1 -0.2 -0.1 5/ 5/ 0.1 5/ 5/ 5/ -0.2 5/ 5/ 51 -0.1 0.1 5/ -0.1 5 5/ 5/ -0.1 0.1 5/ 2/ I p e 1/ 2/ 3/ 4/ 5/ 6/ Preliminary. Estimated. To bank holding companies affiliates subsidiaries or foreign branches. To other than banks' and bank-related affiliates or subsidiaries. Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches . Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. Less than $50 million. Includes $800 million System matches sale-purchase transactions outstanding on February 24. 77 Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million are included in 'bther securities" than in "real estate loans". rather TABLE 3 - Supplementary LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES Loans sold outright by commercial banks (outstanding in billions of dollars, Sold to Sold to Affiliates 1/ nonbank public 2/ Business Business Business Total Loans Loans Total Total Loans 1969 May June July Aug. Sept. Oct. Nov. Dec. 28 30 30 27 24 29 26 31 2.0 2.8 3.7 4.24.7 5.9 6.1 5.3 1970 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 28 25 25 29 27 30 29 26 30 28 25 31 7.7 8.3 8.5 9.0 9.8 9.8 10.0 9.6 6.8 6 .0 5 .4 4.7 Commercial bank credit Total loans and investments Original Adjusted 3/ Total loans Adjusted 3/ Original Businessi loans 11/ Original Adjusted 4/ 1.7 & 2.4 2.7 3.0 3.9 4.1 3.2 1.5 2.1 2.8 3.3 3.8 4.8 4.8 3.9 0.8 1.3 1.9 2.2 2.5 3.3 3.4 2.6 0.5 0.7 0.9 0.9 0.9 1.1 1.3 1.4 0-3 | / 0.4 0.5 0.5 0.5 0.6 0.7 0.6 399.8 400.6 399.5 398.9 398.6 399.5 402.3 402.1 401.3 402.7 402 .3 402.2 402.4 404.3 407.1 406.0 271.0 271.9 271.6 272 .1 273.6 275.6 277.8 279.4 272.5 274.0 274.4 275.4 277.4 280.3 282,6 283.3 102.3 102.4 102.7 103.4 104.2 104.6 105.1 105.7 103.1 103.7 104.6 105.6 106.7 107.9 108.5 108.3 5.1 5.8 6.0 6 .4 7.1 7.2 6.9 6.6 4.2 3.7 3.2 2 .5 6.0 6 .6 6.8 7.2 8.1 8.1 8.2 8.0 5.2 4.4 3.8 3.0 4.4 5.0 5.3 5.6 6 .4 6.5 6.3 6.0 1.7 1.7 1.7 1.8 1.7 1.7 1.8 1.6 0.7 0.8 0.7 0.8 0.7 0.7 0.6 0.6 400.3 400.4 403.9 405.9 407.7 408.4 414.3 419.5 406.3 407.0 410.7 413.1 415.8 416.5 422.5 427.5 278.5 278.3 279.6 279.3 279.1 279.5 283.2 285.7 284.5 284.8 286.5 286.5 287.2 287.6 291.4 293.7 105.2 105.1 105.1 105.3 105.5 106.2 107.0 108.5 109.6 3.7 3.2 2.7 2.1 1.6 1.6 1.6 1.7 0.5 0.5 0.5 0.4 424.3 426.2 429.3 435.9 429.5 430.6 433.1 438.9 288.4 289.1 290.0 292.0 293.6 293.5 293.8 294 .9 109.5 109.4 109.3 109.6 113.2 112 .6 112 .0 111.7 ! Net Chzm g e (B:illions ()f dollars During month ending: June 30 July 30 Aug. 27 Sept. 24 Oct. 29 Nov. 26 31 Dec 0.8 0.9 0.5 0.5 1.2 0.2 -0.8 0.6 0.7 0.3 0.3 0.9 0.2 -0.9 0.6 0.7 0.5 0.5 1.0 5/ -0.9 0.5 0.6 0.3 0.3 0.8 0.1 -0.8 0.2 0.2 5/ 5/ 0.2 0.2 0.1 0.1 0.1 5/ 5/ 0.1 0.1 -0.1 2.4 -3.3 -1.8 -0.9 2.7 8.4 -0.6 4.2 -1.2 -0.3 0.6 5 .7 8.3 3.2 4.0 -1.3 2.2 6 .6 8.8 9.6 6.9 6 .6 1.8 4.4 8.7 12.5 9.9 3.0 1.1 3.5 8.2 9.3 4.6 5.7 6.9 1970 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 2.4 0.6 0.2 0.5 0.8 5/ 0.2 -0.4 -2.8 -0.8 -0.6 -0.7 1.9 0.7 0.2 0.4 0.7 0.1 -0.3 -0.3 - 2.4 -0.5 -0.5 -0.7 2.1 0.6 0.2 0.4 0.9 5/ 0.1 -0.2 -2.8 -0.8 -0.6 -0.8 1.8 0.6 0.3 0.3 0.8 0.1 -0.2 -0.3 -2.3 -0.5 -0.5 -0.6 0.3 5/ 0.1 0.1 -0.1 0.1 -0.1 5/ -0.1 5/ -0.1 5/ 5/ -o.i -5.4 0.3 10.5 5.9 5.3 2.1 17.3 15.1 13.7 5.4 8.7 18.4 0.9 2.1 10.9 7.0 7.8 2.0 17 .3 14.2 5.6 3.1 7.0 16.1 -3.9 -0.9 5.6 -1.3 -0.9 1.7 15.9 10.6 11.3 2 .9 3.7 8.3 5.1 1.3 7.2 -5.7 -1.1 - - 2 .2 2.3 8.0 9.0 16.8 11.1 -1.1 -1.1 3.3 28 25 25 29 27 30 28 25 30 28 25 31 (Am lual rates jLn per cent) 5/ 5/ 5/ 5/ 0.1 -0.2 5/ 5/ 5/ 0.1 Corrected. £/ Adjusted to maintain comparability with subsequent data. 1-10.1 110.4 110.9 111.9 112.7 113.3 114.5 2 .9 1.6 15.9 9.5 -0.4 -0.4 1.2 4.5 -- 7.0 10.4 11.5 12,5 13.5 6.7 -2.2 14.4 5.5 3.3 5.4 10.8 8.6 6.4 12.7 -13.6 -6.4 -6.4 -3.2 TABl NONDEPOSIT SOURCES OF FUNDS AND METHODS OF FINANCE (Outstandings in billions of dollars) Date Euro-dollars Through branches outside U.S. Territories Foreign and possessions Through brokers and 1/ dealers Commercial Direct - ^ paper 2/ Total Total 12.7 16.8 19.4 19.6 19.1 19.4 20.9 19.6 10.9 14.3 15.6 15.9 15.5 14.8 15.9 14.5 9.9 13.3 14.4 14.7 14.3 13.6 14.5 12.8 0.6 0.4 0.4 0.3 0.3 0.4 0.4 0.8 0.16/ 0.2 6/ 0.3 0.5 0.4 0.5 0.6 0.6 0.2 6/ 0.4 6/ 0.5 0.4 0.4 0.3 0.3 0.3 21.5 21.5 , 20.5 20.6 21.7 21.5 19.8 19.5 15 .9 14.6 13.2 11.7 15.2 14.5 13.2 T 13.1 13.3 r 13.1 11.3 11.5 10.6 10.3 9.4 8.6 13.6 13.1 11.9 11.9 12.3 12.2 10.5 10.6 9.8 9.4 8.6 7.7 0.7 0,7 0.6 0.6 0.5 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.6 0.5 0.5 0.4 0.3 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.3 0.3 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 1971 Jan. 27 Feb. 24 Mar. 31 Apr. 28 May 26 June 30 July 28 Aug. 25 Sept. 29 Oct. 27 Nov. 24 Dec. 29 10.2 9.1 6.4 5.7 5.1 5.2 5.2 4.9 6.0 6 .6 7 .0 4.4 7.4 6.5 3.5 2.8 2.2 2.2 2.1 1.9 2.8 3.3 3.7 1.3 6.5 5.7 2.9 2.2 1.6 1.5 1.5 1.4 2 .5 2.9 3.3 0.9 0.8 0.8 0.6 0.6 0.6 0.6 0.6 0,5 0.4 0.4 0.4 0.4 7/ 1/ 7/ 7/ 7/ 7/ 1972 Jan. 26 Feb. 23 Mar . 2 9 Apr. 26 May 31 p 5.0 4.7 5.1 4.8 4.6 1.8 1.4 1.8 1.6 1.7 1.4 1.1 1:5 1.4 1.5 0.3 0.3 0.3 0.3 0.3 1969 May 28 June 25 July 30 Aug. 27 Sept.24 Oct. 29 Nov. 26 Dec . 31 1970 Jan. 28 Feb. 25 Mar . 2 5 Apr . 29 May 27 June 24 July 29 Aug. 26 » Sept.30 ; Oct. 28 Nov. 25 Dec. 30 1 If V 7/ 7/ 7/ 7/ 7/ 7/ 7/ 7/ 7/ 1/ 7/ 7/ 2/ 7/ 7/ 7/ 7/ 7/ 1/ 7/ 7/ 7/ 1/ , 7/ 7/ 7/ 7/ If . 1.0 1.3 2.0 1.5 1.0 0.9 0.8 0.8 0.4 0.4 0.7 0.6 0.5 0.5 0.5 0.6 0.6 0.8 1.3 0.9 0.5 0.4 0.3 0.2 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 1/ 0.1 0.1 0.1 0.2 0.2 0.2 0.1 5.5 6.1 6 .5 6.7 7.6 7.6 7.8 7.3 4.6 3.7 3.1 2.3 0.8 0.9 0.8 0.8 0,8 0.7 0.7 0.7 0.7 0.6 0.7 0.7 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.6 0.7 0.7 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 7/ 7/ 7/ 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 0.3 0.4 0.4 0.5 0.5 0.6 0.5 0.5 0.5 0.4 0.2 2.0 1.9 1.7 1.8 0.7 0.7 1.1 1.1 1.2 1.1 1.1 1.1 1.1 1.1 1.1 1.0 If If If V 1.7 1.8 1.8 1.9 2.0 2.0 2.0 0.7 0.7 1.2 1.1 1.2 1.3 1.3 1.3 1.3 1.3 1.3 1.2 7/ 0.2 0.2 0,2 , 0.2 0.2 : 0.2 : 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 0.3 0.2 0.2 0.2 0.2 . 0.2 . 0.2 0.2 0.2 0.2 0.2 2.1 2.1 2.2 2.2 2.0 1.2 1.2 1.1 0.9 0.9 1.0 1.0 1.0 0.9 0.9 ' 0.2 0.2 0.1 0.1 7/ 0.4 0.4 0.3 0.3 0.3 1.1 Agencies of foreign banks. Issued by a bank holding company or other bank affiliates. Loans or participation, in pools of loans sold under repurchase agreements. To bank holding companies, affiliates, or subsidiaries. To other than banks and bank-related affiliates or subsidiaries. Fatly estimated. Less than $50 million. 6/ 7/ Customer guaranteed Ineligible paper acceptances 0.8 1.2 1.9 ' 2.2 2.6 3.7 • 4.2 .4.3 1 2/ Loans sold under repurchase agreement 3/ To the nonbank To bank pub1ic— Total affiliates— These Data Are Not for Publication. If ; 0.3 0.3 0.3 0.3 0.4 TABLE 5 Loans at All Commercial Banks Seasonally Adjusted Business Date ( I n Real Estate b i l l i o n s Consumer of 31 31 31 31 95.9 105.7 64>9 1970- -Sept. Oct. Nov. Dec. 30 28 25 31 109.4 109.4 109.3 109.6 71.2 71.5 71.8 72 .3 49.4-/ 49.6 49.5 49.7 1971- -Jan. Feb. Mar. Apr . May June 27 24 31 28 26 30 110.3 111.3 111.1 111.7 72.8 73.4 74.0 74.7 75.5 50.0 78.6 112.6 53.8 58.4 2/ 70.3^(old) 69.8 (new) 38.2 40.0 44.8 48.1 50.2 50.4 50.6 28 25 29 27 24 31 113.2 115.2 26 23 29 116.4 117.3 April 26 May 31 119.4 120.7 1972- -Jan. Feb. Mar . 116.2 116.6 116.0 115.5 118.1 7.9 9.2 10.2 9.1 12.0 11.3 12.4 , 13.1- (old) 13.6 (new) 9.9 9.3 14.9 15.0 15.2 15.4 15.8 15-9 11.3 11.4 11.6 11.7 16.0 12.1 12.2 12 .3 12.4 51.5 52.1 52.8 53.3 54.0 54.6 8.8 9.5 10.3 10.4 10.3 15.9 82.4 83.3 84.4 85.4 55.1 55.7 11.7 16.7 17.1 56.6 57.1 10.0 10.6 11.3 11.3 11.4 11.4 76.7 77.6 78.6 79.5 80.5 81.4 56.2 8.7 9.5 14.7 14.5 14.7 14.3 8.8 86.6 Agriculture 9.1 9.7 9.5 10.3 50.9 51.1 112.1 (new) July Aug. Sept. Oct. Nov. Dec. Nonbank £inaneial d o l l a r s ) 1966- -Dec . 1967- -Dec. 1968- -Dec . 1969- -Dec . 86.2 Security 9.5 11.0 12.1 12.6 12.2 13.6 15.2 15.6 15.8 15.3 11.8 12.0 17.5 16.9 17.3 e - Estimated. p - Preliminary r - Revised Data are comparable with previous months. Individual loan items are gross throughout and the effect of consolidation in June 1969 on any one loan item was nominal. 2/ Real estate loans decreased by $500 million on December 31, 1969, and loans to nonbank financial institutions increased by $500 million due to change in method of reporting mortgage loans held under repurchase agreements. 3/ Consumer credit data adjusted in July to exclude about $500 million of consumer paper sold by finance companies to the banking system but classified as loans to nonbank financial institutions on bank records. Subsequent repayments are also included in loans to nonbank financial institutions. 4/ Includes $800 million System matched sale-purchase transactions outstanding on Feb. 24. 5/ Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 http://fraser.stlouisfed.org/ ^ m i l l i o n are i n c l u d e d in qgjier s e c u r i t i e s previously^they had b e ^ included in^real estate loans Federal Reserve Bank of St. Louis _1/ 12.6 12.8 12.9 13.0 13.2 13.3 13.5 Table 6 Changes in Loans and Investments at All Commercial Batiks, Seasonally Adjusted (In billions of dollars) 1971 | Item 1972 1 May June July Aug. Sept. +3.0 1 +3 .6 +5.0 +2 .6 +4 .7 +4 .0 U. S. Gov't, securities -0.4 -0 .3 +2.4 -1.2 -0 .7 -1 .0 Other securities +1.6 +1 .6 «.»2' +1.4 -0 .2 Loans 2/ +1.7 +2 .5 +2.4 Business +0.6 +0 .9 -0.5 Real estate +0.7 +0 .8 + Consumer +0.2 +0 .3 Security -0.6 Nonbank financial Oct. Nov. Dec . Jan. Feb. Marchp ApriId May p 00 April +2.6 +5.9 +5 .7 +5 .2 +7.7 +1 .5 +8.0 -0.8 -0.3 +1.9 -1 .0 +1 .3 +1.2 +0 .2 +0.4 +1.7 +1.6 +1.1 +1 .5 +1 .1 +1.6 -0 .1 +2.1 +5 .6 +3 .3 +4.0 +1.7 +1.9 * +5 .1 +2 .8 +4.8 +1 .5 +5.5 +1.1 +2,.0 +1 .0 +0.4 -0.6 -0.5 +0 .9 +0 .9 +0.8 +1 .3 +1.3 +0.8 +0,.9 +1 .0 +0.9 +1.0 +0.9 +1 .0 +0 .9 +1.1 +1 .0 +1.2 +0.2 +0.4 +0.6 +0 .7 +0.5 +0.7 +0.6 +0 .5 +0 .6 +0.5 +0.4 +0.5 -0.5 +0.7 -0.7 +0,.7 +0,.8 +0.1 -0.1 +0.7 +0,.7 +0.4 +0.4 -0,.4 +1.4 +0.2 +0,.4 +0.1 +0.1 - 0 . ,1 - 0 , .7 +0.4 +0.2 -0.5 +1.4 +0,.4 +0.4 -0 .6 +0.4 Agriculture +0.1 +0,.1 +0.2 +0.1 +0.,1 +0..1 +0.1 +0.2 +0.2 +0,,1 +0,.1 +0.2 +0..1 +0.2 All other +0.5 +0,.5 -0.1 +0.6 +1.4 +0.4 +1.6 +0.3 +0.5 +0..5 -0..5 +1.4 -0..2 +0.5 Total loans excluding security +2.3 +3..0 +1.0 +3.1 +4. 9 +2 .,5 +3.9 • +1.8 +1.2 +4.4 +2 .4 +4.4 +2.,0 +4.1 Total loans excluding security and nonbank financial +2.1 +2,.6 +0.9 +3.0 +5. 0 +3. 2 +3.5 +1.6 +1.7 +3. 0 +2. +2. 6 +3.7 Loans and Investments 2/ 1/ 2/ 3/ I ! i.i^ ; +2 .3 °1 +4.0 Less than $50 million. Adjusted to exclude domestic interbank loans. Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million are included in other securities• previously they had been included in real estate loans. Changes have been adjusted to take account of this reclassification. ' Table 6A Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted Adjusted for Loans Sold to Affiliates (In billions of dollars) 1972 1971 May June July AUK . Sept. Oct . Nov. Dec . Jan. Feb. +5.2 +2.4 +4.6 +4.3 +4.7 +2.5 +6.0 +5.8 +5.1 +7.5 +1.5 +7.8 +2.4 -1.2 -0.7 -1.0 -0.8 -0.3 +1.9 -1.0 +1.3 +1.2 +0.2 +0.4 +1.4 -0.2 +1.7 +1.6 +1.1 +2.3 +1.5 +1.1 +1.6 ^0.1 April p May p Loans and Investments 2/ it March p 00 April it Item +3.7 U. S. Gov't, securities -0.4 -0.3 Other securities +1.6 +1.6 Loans 2/ +1.6 +2.6 +2.Ch-/ +2.2 +5.4 +3 .6 +3.9 +1.6 +1.8 * +5.3 +2.8 +4,6 +1.4 +5.3 +0.6 +0.9 -0.5 +1.0 +2.0 +1.1 +0.3 -0.6 -0.7 +1.0 +0.9 +0.9 +1.2 +1.1 Business Real estate i Consumer Security NOT AVA ILABLE Nonbank financial Agriculture All other Total loans excluding security Total loans excluding security and nonbank financial ! 1/ Less than $50 million. 2/ Adjusted to exclude domestic interbank loans. 3/ . Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million are included in other securities; ~~ previously they had been included in real estate loans. Changes have been adjusted to take account of this reclassification. Table 7 Changes in Loans and Investments at All C o m m e r c i a l Banks, at W e e k l y Reporting B a n k s , and at Other Banks, Not Seasonally Adjusted Adjusted for Loans Sold Last W e d n e s d a y of A p r i l to last W e d n e s d a y of Mav Item 1972 1971 1970 1969 1968 1967 1966 +5.7 -0.7 +1.1 +6.1 +3.4 -1.3 +0.7 +2.9 +1.1 +0.3 1/ +1.4 +1.9 -2 .6 -0.5 -1.2 +0.6 +0.5 -0.3 +0.7 +0.7 -0.4 +0.7 +1.1 +1.9 -1.9 +0.6 +0.7 Total loans U. S. Gov't, securities Other securities Total +2.7 +0.2 +0.4 +3.3 +1.5 -1.0 -0.2 +0.3 1/ -0.1 -0.3 -0.4 -0.5 -1.7 -0.7 -2.9 1/ +0.4 -0.5 -0.1 -0.6 +0.1 +0.2 -0.3 +0.5 -1.3 +0.3 -0.5 Other banks 2/ 3V Total loans U. S. Gov't, securities Other securities Total +3.0 -0.9 +0.7 +2.8 +1.9 -0.3 +0.9 +2 .6 +1.1 +0.4 +0.4 +1.8 +2.4 -0.9 +0.2 +1.7 +1.3 -0.5 +0.5 +1.4 +1.4 -0.6 +0.3 +1.2 All c o m m e r c i a l banks 2/ Total loans U. S. Gov't, securities Other securities Total All Large Banks ?/ i/ . End Item +0.6 +0.1 +0.2 +0.8 1 ' of D e c e m b e r fn PnH nf M [aiz — 1972 1971 1970 1969 1968 1967 1966 All c o m m e r c i a l banks 2/ Total loans U. S. Gov't, securities Other securities Total +11.3 -4.0 +5.8 +13.1 +0.8 -3.0 +8.7 +6.6 -3 .6 -2.1 +3.0 -2.7 +5.6 -9.1 +0.3 -3.2 + 1.1 -2 .2 +2 .0 +0.9 +0.1 -0.4 +5.9 +5.7 +4.1 -5.9 +2 .2 +0.4 All Large Banks 2/ 3/ Total loans U. S. Gov't, securities Other securities Total +4.5 -2.6 +1.7 + 3 .6 -3.5 -3.1 +4.3 -2.2 -4.3 -1.1 +1.9 -3.5 1/ -6.3 -1.3 -7.6 -1.1 -2.3 +1.0 -2.3 -2.9 +0.2 +4.5 +1.9 +1.5 -4.3 +1.0 -1.8 Other banks 2/ 3/ Total loans U. S. Gov't, securities Other securities Total +6.8 -1.4 +4.1 +9.5 +4.3 +0.1 +4.4 +8.9 +0.7 -0.9 +1.1 +0.8 +5.7 -2.8 •f-1.6 +2 .2 +0.1 +1.0 +3.2 +3.0 -0.6 +1.4 +3.8 +2.6 -1.6 +1.2 +2.2 NOTE: • +4.4 Data exclude domestic interbank loans; Call report data tor large oanKs usee w h e n available . Loans adjusted to include all loans sold to bank holding companies, affiliates, subsidiaries, or foreign b r a n c h e s . V 2/ Less than $50 m i l l i o n . Based on revised r e p o r t i n g beginning July 1969. 2/ m a i n t a i n comparability of series. Based on revised coverage beginning July 1966, and J a n u a r y 1970, 1971, and 1972. Changes have been adjusted to 1967, 1968, 1969, Table 8 C h a n g e s in C o m m e r c i a l and Industrial Loans at Large C o m m e r c i a l Banks (In m i l l i o n s of d o l l a r s ) Late A p r i l to late May T.ate Decen iber to 1|ite 1/ B u s i n e s s of b o r r o w e r Food processors Commodity dealers Trade concerns R e t a i l trade W h o l e s a l e trade Metals Primary metals Machinery Transportation equipment O t h e r fabricated m e t a l s Textiles, apparel, etc. Pettoleum Chemicals Other durable manufacturing Other nondurable manufacturing Mining P u b l i c U t i l i t i e s , total T r a n s p o r t a t i o n 3/ C o m m u n i c a t i o n 3/ O t h e r public u t i l i t i e s Construction A l l o t h e r types of b u s i n e s s Bankers acceptances S e r v i c e s 3/ Other F o r e i g n business concerns 3/ Classified Unclassified Total Change 2J 3/ 1972 P 1971 1970 -10 -73 +101 -2 +103 -191 +62 -111 -112 -30 +136 +30 +20 +28 -57 +25 -214 -120 -60 -34 +72 +95 +47 -54 +102 +70 +32 +12 444 -170 -21 +288 +144 +144 -7 -3 -7 -21 +24 +76 -13 -81 +39 +19 -22 +94 -12 +26 +80 +125 -118 -97 -1 -20 +220 +429 +202 +631 -140 -39 -68 -26 -42 -201 -23 -23 -118 -37 +43 -42 -274 +13 -8 -105 -93 +70 -99 —64 +16 -177 -185 -17 +25 +42 -1,033 -151 -1,184 1969 1968 +3 -117 -139 -115 -24 -72 -4 -103 -5 • +40 +64 -16 +138 +84 +22 -112 +55 +108 -48 -5 +119 +86 -137 +95 +128 -45 +70 +108 +178 -152 -65 -43 -51 +8 -224 +29 -272 -13 +32 +13 -15 -75 +29 -20 -133 +115 +151 +13 -49 +99 +50 -115 +111 +54 -90 -511 -13 -524 1972 D . -314 -299 +400 +422 -22 -261 +127 -118 -238 -32 +473 -121 -88 +251 -152 -101 -179 -80 -28 -71 +275 +132 -639 +425 +346 +209 +225 +839 H , 064 1971 1970 -771 -241 +415 +286 +129 -216 +153 -158 -287 +76 +153 -287 -22 +167 -116 -212 -220 +59 +111 -390 +317 -398 -334 -77 +13 +294 -1,137 +803 -334 -559 -227 -58 -39 -19 +230 -47 +97 +27 +153 +284 -172 -137 +117 -87 -644 -1,460 -181 -246 -1,033 -7 -596 -163 -296 -137 -76 -3,392 -351 -3,743 May J / 1969 -594 -253 +299 +128 +171 +976 +106 +482 +99 +289 +416 +415 +242 +167 +61 +196 -190 +150 -57 -283 +341 +1,063 -270 . +784 +549 -135 +3,005 +494 +3,511 C h a n g e s are compiled from D e c e m b e r 29, 1971; D e c e m b e r 30 , 1970; December 31, 1969; D e c e m b e r 25, 1968; and D e c e m b e r 27, 1967. T h e s e data cannot be linked w i t h all commercial bank data w h i c h are always for D e c e m b e r 31 and foreign loans w e r e not reported separately. Prior to 1967, t r a n s p o r t a t i o n , c o m m u n i c a t i o n , services, • 1968 -572 -448 +211 +134 +77 +507 +381 +48 -58 +136 +408 -131 +132 +97 +17 +543 -96 +393 -23 -466 +185 +396 -385 +385 +396 -152 +1,097 +139 +1,236 TABU! 9 Gross Loans and Investments at All Commercial Banks (In billions of dollars) Date 1964--Dec. 1965—Dec. 1966--Dec. 1967--Dec. 1968—Dec. 1969--Dec. ^^970--Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. @ Nov. Dec. W 279.2 307.6 324.0 1/ 360.8 400.4 412.1 63.0 59.5 56.2 62.5 64.5 54.7 38.8 177.4 44.9 203.2 48.8 2/ 219.0 1/ 61.5 236.8 71.5 264.4 71.3 286.1 28 25 25 29 27 30 29 26 30 28 25 31 399.1 397.2 400.5 404.8 405.3 411.7 414.1 416.8 424.7 425.6 429.3 446.8 53.0 51.4 51.5 52.3 52.6 51.6 53.5 55.1 55.8 57.2 58.3 61.7 70.6 70.8 72.7 74.3 74.3 75.6 75.7 77.1 79.5 439.5 442 .4 6/ 447.7 450.9 453.6 464.8 61.5 61.4 27 24 31 28 26 30 (old) 7/ (new) July 28 Aug. 25 Sept. 29 Oct. 27 Nov. 24 Dec. 31 463.0 466.1 472.0 476.5 479.9 497.9 26 23 29 p 26 p 31 P 490.1 492.4 500.7 505.1 511.4 1972—Jan. Feb. Mar. Apr. May • Other U.S. Gov't. Securities Total Loans 31 31 31 30 31 31 3/ 1 9 7 1 — Jan. Feb. Mar. Apr. May June # Loans and Investments 61.6 60.0 58.8 60.3 59.3 58.7 58.7 60.0 61.0 64.9 62.7 61.9 62.4 61.6 61.0 81.0 82.5 86.1 87.1 88.9 91.5 94.2 94.9 96.7 97.4 98.2 98.1 99.9 101.5 101.6 104.7 104.8 106.2 108.4 109.4 110.5 Business 60.2 Real Estate 88.4 98.4 108.4 43.7 49.3 54.0 58.5 65.1 70.0 4/ 275.6 275.0 276.3 278.2 278.4 284.5 284.9 284.7 289.5 287.5 288.4 299.0 104.1 104.0 104 .9 105.5 105.2 108.4 107.3 107.1 109.4 108.4 108.8 112.5 70.1 70.1 70.1 70.2 70.3 70.6 70.8 71.1 71.6 71.9 72.2 72.5 290.9 292.1 6/ 294.6 296.7 300.0 307.8 307.1 305.6 309.3 313.4 315.1 317.3 328.3 109.1 110.3 111.2 72.7 73.0 73.6 74.3 75.2 76.5 75.8 76.8 77.8 79.0 322.6 324.3 330.0 334.1 340.0 21 71.4 80.6 111.6 112 .4 114.4 113.4 114.2 115.9 115.6 115.6 118.5 115.2 116.1 118.1 119.6 120.3 80.0 80.9 81.6 82.3 82.9 83.9 85.0 86.3 Nonbank Financial Institutions Security 8.4 8.5 9.0 10.5 11.8 10.7 8.2 8.3 8.8 8.8 8.6 7.9 8.4 8.9 9.3 9.4 9.1 12.1 10.1 9.9 10.0 9.1 8.5 9.7 8.6 9.3 10.0 10.1 10.1 12.9 11.5 11.4 12.3 12.3 13.5. 7.5 All Other 31.0 35.7 38.3 40.0 44.9 48.2 10.9 13.3 13.3 12.5 13.7 15.1 48.0 47.8 47.8 48.1 48.4 49.0 5/ 49.3 49.6 49.8 49.8 49.5 49.9 12.7 12 .4 12.2 12.7 12.3 14.4 14.9 14.4 15.1 14.3 14.3 15.9 22.1 11.2 11.5 11.7 12 .0 12.2 49.6 49.5 49.7 50.3 50.8 51.4 14.5 14.3 15.2 15.2 15.4 17.0 23.9 23.9 23.4 24.5 25.7 26.7 12 .4 12.5 12.5 42.4 12 .4 12.5 51.9 52.6 53.2 53.6 54.1 54.8 15.9 15.5 15.5 26.6 27.4 27.3 12.6 12.8 54.7 55.0 55.5 56.3 . 57.0 8.2 8.6 2/ 9.3 9.7 10.3 10.4 10.5 10.6 10.8 11.1 11.2 11.3 11.4 11.4 11.3 11.2 11.2 11.0 13.0 13.3 13.7 Hi 15.7 16.8 15.3 17.5 20.7 23.3 21.9 21.9 22.0 22.5 23.1 22.9 22.2 22.9 22.4 23.3 25.0 28.1 28.8 16.9 31.0 16.1 16.3 16.9 17.1 30.2 29,f 30.3 30.5 17.1 32.1 p - Preliminary. Corrected r - Revised. 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. Beginning June 9, 1966, $1.1 billion of balances accumulated for the payment of personal loans were deducted from time deposits and "all Other" loans. NOTE: 1/ 2/ 3/ a 4/ 5/ V Beginning June 30, 1966, about $1 billion of participation certificates previously included in agricultural and "all other" loans were reclassified as "other securities." Data revised beginning June, 1969, to include all bank premises subsidiaries and other significant data are for commercial banks only. majority-owned domestic subsidiaries- earlier ' Real estate loans decreased by $500 million on December 31, 1969, and loans to nonbank financial institutions increased by $500 million due to change in method of reporting mortgage loans held under repurchase agreements. Consumer credit data adjusted in July to exclude about $400 million of consumer paper sold by finance companies to the banking system but classified as loans to nonbank financial institutions on bank records. Subsequent repayments are also included in loans to nonbank financial institutions. Includes $800 million System matched sale-purchase transactions outstanding on February 24. Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million are included in other securities; previously they had been included in real estate loans. Individual loan category data are available for publication only on a June and December Call data basis TABLE 10 Ratios to Total Deposits 1/ L O A N S D A T E All commercial banks M e m b e r B a n k : s Reserve City Banks New York City of City ,Total Chicago Other Country U.S. Government securities maturing within one year All Commercial Banks 54.0 55.6 1 9 5 9 — D e c 31 1960-;-Dec. 31 56.5 55.1 1 9 6 1 — D e c . 31 54.5 55.7 1962—Dec . 2 8 56.5 57.7 1 9 6 3 — D e c . 25 58.6 59.9 1 9 6 4 — D e c . 31 60.5 61.9 65.4 1 9 6 5 — D e c . 31 63.7 1 9 6 6 — D e c . 31 65.8 167.9 1 9 6 7 — D e c . 30 63.8 i65.8 1 9 6 8 — D e c . 31*. , 64.7 (63.7) 66.8 1969--Dec. 31*— 72.0 (69.8) 75.7 67.3 (66.2) 69.9 1 9 7 0 — D e c . 31* 67.3 65.9 65.0 67.9 67 .4 69.3 75.9 83.5 79.9 83.5(76.3) 102.8(86 .4) 87.5(79.6) 58.2 60.8 58.0 61.4 62.1 64.4 70.2 77.0 70.8 75.1 89.5 80.6 58.2 59.0 57.7 60.1 63.3 65.0 68.7 70.2 68.1 69.1 79.5 73.3 48.2 50.3 50.2 51.7 53.8 56.0 57.9 59.2 58.2 58.2 62.8 60.2 7.4 8.7 11.2 9.5 7.5 8.0 7.3 6.1 6.4 6.1 5.0 5.7 67.2 (66.2) 69.5 1 9 7 1 — J a n . 27* Feb. 24* 67.3 (66 .4) 69.6 66.1 (65.6) 68.2 Mar. 31* Apr. 28* 66.4 (66.1) 68.5 May 26* 66.7 (66.5) 68.8 66.1 (65.9)i 68.4 June 30* 66.8 (66.5) 68.8 July 28* 66.8 (66.6) 68.9 Aug. 25* Sept.29* 67.2 (66.8) 69.5 Oct. 27* 66.8 (66.4) 69.1 Nov. 24* - J 67.1 (66.6) 69.3 (new) Nov. 24* — 67.6 (67.1) 70.0 Dec. 31* 65 .7 (65.6) 68.0 86.6(79.9) 88.0(82.3) 84.8(81.9) 84.7(82.5) 85.0(83.4) 84.0(82.3) 84.6(82.9) 85.4(84.3) 87.8(85.0) 87.1(83.5) 86.7(83.6) 89.0(85.8) 84.1 (83.2) 80.9 81.3 81.4 76.9 77.5 78.7 79.3 80.5 79.4 80.1 80.7 82.9 78.1 72.5 72.3 70.5 71.5 71.8 71.4 72.2 72.2 72 .4 72.2 72.7 73.5 71.6 60.6 60.6 59.8 60.2 60.4 59.9 60.3 60.1 60.5 60.2 60.4 60.4 59.2 5.5 4.9 4.7 4.3 4.1 3.9 3.8 3.4 3.6 3.5 3.1 3.1 3.9 85.6(84.0) 85.5(84.4) 85.1(83.4) 84.1(82.7) 84.7(83.2) 79.9 81.7 82.5 81.9 83.7 71.9 72.3 72.8 73.4 73.2 60.0 60.3 60.3 60.2 60.5 1972—Jan. Feb. Mar. Apr. May 26* 23* 29* p 26* p 31* p 66.5 66.5 66.7 66.9 67.2 (66.3) (66.3) (66.4) (66.7) (67.0) 68.7 68.8 69.0 69.2 69.5 3.6 3.9 \ 4.0 3.6 n.a. * - Ratios in parenthesis are those obtained by adding Euro-dollars to the deposit base. 1/ Total loans (adjusted to exclude loans to banks); U.S. Government securities maturing within one year estimated on basis of Treasury survey of ownership; and total deposits (adjusted to exclude cash items in process of collection). 2J Beginning June 1969, total loans are reported gross of valuation reserves rather than net as previously reported. The higher loan level increased the ratio by about 1.3 percentage points for all commercial banks. 3/ Loan data revised to exclude only loans to domestic commercial banks. Previous data had also excluded loans to foreign commercial banks. . W TABLE 11 Money Stock Measures and Deposit Turnover (Seasonally adjusted; dollar amounts in billions) M3 "2 M^ plus M2 plus p Components of money stock measures and related items deposits time dep. Currency U.S. Gov't. Time and Nonat nonplus at comm. deposits savings deposits bank thrift bank thrift Demand other than demand 3/ 2/ (all member) deposits—^ large CD's—^ institutions— Currency Deposits CD's Other Total institutions M i Turnover outside N.Y. City (per cent) 1964--December 1965--December 1966—December 1967--December 196 8 — D e cember 1969--December 160.5 168.0 171.7 183.1 197 .4 203.7 273.8 298.1 314.0 345.7 378.0 386.8 422.9 459.4 481.3 528.8 572.6 588.3 34.2 36.3 38.3 40.4 43.4 46.0 126.3 131.7 133.4 142.7 154.0 157.7 13.3 16,7 15.9 20.8 23.6 11.0 113.3 130.1 142.2 162.6 180.6 183.2 126.6 146.8 158.1 183.4 204.2 194.1 149.2 161.3 167.4 183.1 194.6 201.5 5.3 4.4 3.5 4 .6 4.2 4.9 33.5 37.4 40.1 40.6 44.8 49.2 1970--July August September October November December 210.3 211.6 212.8 213.1 213.6 214.8 401.7 405.6 409.2 412.0 414.3 418.2 608.4 613.9 619.1 623.9 627.1 634.0 48.0 48.1 48.3 48.5 48.7 49.0 162.4 163.5 164.5 164 .6 164.9 165.8 17.0 19.3 21.3 22.6 23.6 25.5 191.4 193.9 196 .4 198.9 200.6 203.4 208.4 213.2 217.7 221.5 224.2 228.9 206.6 208.4 209.9 211.8 213.6 215.8 5.5 5.7 5.7 5.2 6.3 6.5 53.6 52.5 53.0 53.4 51.6 52.4 1971--January February March April May June July August September October November December 215.3 217.7 219.7 221.2 223.8 225.5 227.4 228.0 227.6 227 .7 227.7 228.2 423.1 430.4 437.1 441.5 446.6 450.6 453.4 454.5 455.6 458.3 460.8 464.7 642.2 653.4 663.9 672.5 681.0 687.8 693.8 697.6 701.2 706.5 711.6 718.1 49.3 49.7 50.0 50.5 50.8 51.1 51.6 51.7 51.9 52.2 52.2 52.5 166.0 168.0 169.7 170.7 173.0 174.5 175.8 176.3 175.7 175.5 175.5 175.7 26.6 27.5 28.1 27.8 28.5 29.4 207. 8 212.7 217.4 220.3 222.8 225.0 234.4 240.2 245.4 248.1 251.3 254.4 219.3 222.6 227 .2 231.0 234.4 237.2 6.1 4.9 4.1 5.7 5.5 4 .3 30.4 30.8 31.6 32.7 32.2 33.4 225.9 226.5 228.0 230.6 233.1 236.4 256.4 257.3 259.6 263.3 265.3 269.9 240.2 243.1 245.6 248.3 250.8 253.4 5.1 5.8 6 .6 4 .7 5.4 6 .2 52.4 53.6 54.2 54.0 53.9 55.2 55.0 55.9 55.6 54.3 58.1 57,3 1972--January February March April r May p 228.8 231.2 233.5 235.0 235.8 469.9 475.5 480.1 483.0 486.5 727.3 737.4 745.9 176.0 178.0 179.9 36.3 241.2 244.3 246.5 248.1 250.7 274.4 278.1 279.9 282.8 287.0 6.3 3.7 6.1 180.9 181.4 33.2 33.8 33.4 34.7 257.4 261.8 265.9 752.7 759.1 52.8 53.2 53.7 54.0 54.4 269.7 272.6 7.4 7.4 56 .3 56 .2 57 .2 r .a . n.a. 234.7 234.5 236.8 235.0 236.2 484.2 484 .6 487.5 486.4 488.3, n .a. n .a. n .a. n .a. n .a. 54.1 54.4 54.4 54.5 54.5 180.6 180.1 182.3 180.5 181.7 35.6 36.0 36.1 36.5 36.7 249 .5 250 .1 250,.7 251,.4 252..1 2 85 .2 286 .1 286 .9 287 .9 288 .8 n .a n.a n .a n .a .a n, 7.9 7.0 6.9 7.6 7.3 n .a n .a n .a n .a n .a Week ending: May 3 10 17 24 31 1/ 2/ 3/ . . . . . TABLE 12 Period Total Consumer- | type time & savings Time and Savings Deposits State Political Large ConsumerNegotiable Foreign Official type Savings CD's 1/ etc. time 1 9 6 6 — D e c . 28 (old) Dec . 28 (new) 1967--Dec. .27 (old) Dec . 27 (new) 1968--Dec. 31 (old) Dec. 31 (new) 1969--Dec. 31 (old) Dec. 31 (new) 89,495 89,639 102,809 102,991 111,900 112,103 % ,589 96,787 65,733 65,864 73,686 73,858 79,443 79.637 77,616 77,812 47,099 47,213 48,647 48,781 49,016 49,161 46,486 46,63? 18,634 18,651 25,039 25,077 30,427 30,476 31,130 31,180 15,659 15,642 20,330 20,330 22,821 22,820 10,Q1Q 10,919 8,103 8,133 8,793 8,803 9,636 9,646 8,054 *,056 1970--June July Aug. Sept. Oct. Nov. Dec. Dec . 24 29 26 30 28 25 30 (old) 30 (new) 99,676 106,494 109,725 113,640 114,803 116,447 119,442 120,206 77,348 78,435 79,070 80,722 81,150 81,554 82,776 83,473 46,174 46,345 46,330 46,808 47,016 47,332 48,032 48,479 31,174 32,090 32,740 33,914 34,134 34,222 34,744 34,994 12,976 17,900 20,174 22,242 23,545 25,201 26,074 26,125 9,352 10,159 10,481 10,676 10,108 9,692 10,592 10,608 1971—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec . Dec. 27 24 31 28 26 30 28 25 29 27 24 29 (old) 29 (new) 123,102 125,842 129,175 129,339 131,114 131,890 132,953 133,828 136,159 137,159 137,980 140,933 141,259 85,168 87,319 90,809 90,745 91,671 92 , 657 91,918 91,848 92,410 92,770 93,374 94,516 94,810 49,142 50,453 52,974 53,047 53,430 53,651 53,145 52,989 53,314 53,601 54,014 54,543 54,738 36,026 36,866 37,835 37,698 38,241 39,006 38,773 38,859 39,096 39,169 39,360 39,973 40,072 27,189 27,488 27,523 27,219 28,071 28,526 30,303 31,600 33,036 33.676 34.072 33,951 33,951 10,745 11,035 10,843 11,375 11,372 10,707 10,732 10,380 10,713 10,713 10,534 12,466 12,497 26 23 29 26 142,835 164,123 144,863 146,743 96,365 97,617 99,402 98,741 55,723 56,425 57,616 57,279 40,642 41,192 41,786 41,462 33,852 34,011 33,457 34,234 12,618 12,495 12,004 13,699 Week Ending: 1972—May 3 10 17 24 31 147,118 147,526 148,128 148,956 149,197 98,954 99,084 99,300 99,572 99,878 57,293 57,407 57,518 57,589 57,640 41,661 41,677 41,782 41,983 42,238 34,278 34,580 34,876 35,400 35,509 13,886 13,862 13,952 13,984 13,810 1972—Jan. Feb. Mar. Apr. V Negotiable certificates of deposit issued in denominations of $100,000 or more. # ® TABLE t 9 Member Bank Reserves ® (Based on averages of daily figures; in millions of dollars) Excess Reserves Free reserves (excess reserves minus borrowings) DATE All member Reserve City Banks City of New York Chicago City Other Country All member Monthly Averages: 1959--December 1960--December 1961--December 1962--December 1963--December 1964-December 1965--December 1966--December 1967--December 1968--December 1969-December 1970--December 1971--Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec . 1972--Jan. Feb. Mar . Apr. r May p -424 669 419 268 209 168 -2 -165 107 -310 -829 -49 -91 -127 -120 -8 -18 -322 -658 -606 -295 -153 144 58 153 91 134 27 16 Borrowings All member Total reserves held seasonally adjusted All member -104 -4 -22 -11 21 -31 -8 -50 -5 -70 -9 3 -449 80 20 -52 -122 -103 -161 -159 -55 -180 -473 -222 237 583 471 394 334 315 238 140 187 70 -144 161 482 756 568 572 536 411 452 392 345 455 257 272 906 87 149 304 327 243 454 557 238 765 1,086 321 18,513 18,842 19,640 19,555 2 0,156 21,149 22,245 23,348 24,771 27,249 27,977 29,132 -6 19 -25 3 2 -39 -29 -10 178 172 150 164 92 17 -92 -58 24 45 53 132 279 201 199 140 312 131 162 198 -10 2 -14 -7 -282 -333 -155 -154 -45 -173 -449 -437 -280 -144 -112 -57 207 263 165 370 328 319 148 330 453 820 804 501 360 406 107 29,390 29,600 29,779 29,991 30,327 30,527 30,639 30,743 31,073 30,882 30,970 31,246 8 -5 -14 -50 -59 -9 -5 -13 1 -9 13 130 17 -6 -25 141 9 144 82 109 173 124 233 136 135 20 33 99 109 119 31,772 31,616 32,032 32,644 32,842 -109 10 -50 -62 19 -14 -70 -95 -22 -130 -203 9 19 15 -90 -21 -67 -127 -110 -111 -29 -56 -71 N0TE: are included beginning October 1, 1970. — — 206 16, 1969. and requirements on bank-related commercial paper TABLE 14-A Liquid Asset Holdings of Private Domestic Nonfinaneial Investors* (Seasonally adjusted monthly averages; amounts in billions of dollars, ratios in per cent) Currency and deposits Time Deposits Period Total liquid assets Total Currency Demand deposits Commercial banks 43.9 42.7 41.7 39.2 51.8 52.5 53.1 30.2 25.8 26.1 26.7 17.7 16.9 36.0 42.8 42.0 42.7 54.5 52.0 52.2 52.5 138.6 138.9 138.9 140.2 139.8 140.7 27.3 27.5 28.1 29.2 28.9 30.2 15.8 15.6 16.1 16.7 17.7 42.7 43.0 41 .7 41.0 40.6 39.2 52.7 52.9 53.1 53.3 53.5 53.7 138.6 138.3 138.4 140.2 142.2 29.9 30.5 30.2 31.5 33.0 18.1 17.7 17.7 17.8 17.6 36.6 35.9 36.0 36.0 36.5 53.9 54.2 139.2 138.2 138.9 140.7 26.2 26.7 28.1 30.2 157.4 148.8 151.2 152.8 242.3 216.0 218.5 220.7 284.9 247.3 251.0 254.1 138.4 137.5 137.2 138.2 51.6 51.7 51.9 52.2 52.2 52.5 153.9 154.1 153 .5 153.3 153 .0 153.4 221.7 222.4 224.0 226.5 228.9 232.2 257.5 260.5 263 .1 266 .1 268.9 271.7 52.8 53.2 53.7 54.0 54.4 153.8 155.6 157.4 158.4 158.6 237.2 240.2 242.3 243.8 246 .4 275.8 280.5 284.9 289.1 292.2 1971—March June Sept. Dec. 792.8 50.0 831.6 850.5 653.6 678.6 692.6 709.8 51.1 51.9 52.5 147.8 152.8 153.5 153.4 1972--March p 1971—April May June 876.6 800.0 808.6 816.8 738.3 662.5 671.5 678.6 53.7 50.5 50.8 51.1 823.3 827.6 831.6 838.3 842.8 850.5 684.8 688.7 692.6 698.1 703.0 709.8 858.2 867.8 876.6 885.4 893.8 719.7 729.6 738.3 745.2 751.6 * - For description of items, and computation of ratios see Table 14-C. 17.2 16.4 16.1 17.7 242.9 254.1 263.1 271.7 125.2 136.8 156.2 174.2 177.0 198.8 232.2 May 53.7 213.0 220.7 224.0 232.2 115.5 117.3 125.2 135.2 138.1 144.7 153.4 1972--Jan Feb Mar Apr, 39.2 215.2 231.1 271.7 36.3 38.3 40.4 43.4 46.0 49.0 52.5 170.4 177.3 194.2 206.8 11 49.5 50.1 51.0 51.4 51.1 51.3 7.1 10.2 11.5 14.2 20.8 19.5 17.7 447 .4 469.6 516.0 559.6 576.2 623.6 709.8 Savings bonds 38.2 43.3 39.5 46.8 62.5 53.0 15.5 15.0 19.5 22.7 9.1 23.2 30.2 557.7 588.2 637.5 694.6 719.7 770.6 850.5 July Aug. Sept. Oct. Nov. Dec. Total 110.3 118.6 121.5 135.0 143.5 147.1 140.7 1965--Dec. 1966--Dec. 1967--Dec. 1968--Dec. 1969--Dec. 1970--Dec. 1971--Dec. 816.8 Thrift institutions Other liquid assets U.S. shortterm marketable Negotiable Commercial Treasury paper CD's securities 10 9 8 16.8 16 .4 16.8 | ! 53.7 54.5 54.8 55.0 TABLE Currency and demand deposits to liquid assets 12 Period Bank liability to liquid assets 13 14-B Ratios Time d e p o s i t s at thrift institutions to liquid assets 14 Liquid assets to G N P 15 Currency and demand deposits to GNP 16 1965-Dec. 1966--Dec. 1967--Dec. 1968-Dec. 1969--Dec . 1970--Dec . 1971--Dec. 27.2 26.4 26.0 25.7 25.6 25.1 24.2 45.9 45.7 47.2 47.8 45.0 47.6 48.9 30.6 30.1 30.5 29.8 29.9 30.0 31.9 78.3 76.8 77.2 77.1 76.5 76.5 77.9 21.6 1971—March June Sept. Dec. 24.9 25 .0 24.7 24.2 48.8 49.0 48.8 30.6 31.1 31.6 76.8 77.7 78.6 19.2 19.4 19.5 48.9 1972--March 24.1 49.0 31.9 32.5 78.6 78.6 19.2 18.9 1971--April May June 24.9 25.0 25.0 48.8 48.9 49.0 30.9 31.0 31.1 n .a n .a n .a n .a , n.a n.a , July Aug. Sept. Oct. Nov. Dec. 25.0 24.9 24.7 24.5 24.3 24.2 48.9 48.8 48.8 48.8 48.7 48.9 31.3 31.5 31.6 31.7 31.9 n.a n.a n.a n a n .a , n.a, n.a, n .a n .a , n .a , 31.9 n .a . n .a . 24.1 24.1 24.1 24.0 49.1 49.1 49.0 49.0 32 .1 32 .3 32 .5 32 .6 n.a. n .a . n .a. n.a. n .a . n .a. n .a . n .a. 23.8 49.0 32 .7 n .a . n .a . 1972--Jan. p Feb. p March p April p May p 20.7 20.3 19.9 19.7 19.5 19.3 TABLE 14-C Liquid A s s e t Holdings S u m of columns 2 and 7. S u m of columns 3, 4, 5, and 6 . M o n e y stock components after d e d u c t i n g f o r e i g n h o l d i n g s and holdings by domestic financial i n s t i t u t i o n s . T h e three columns add to M~ held by domestic n o n f i n a n e i a l sectors. D e p o s i t s at n o n b a n k thrift institutions, as published in money stock statistics, plus m o n t h l y - a v e r a g e deposits at credit u n i o n s . S u m of columns 8, 9, 10, and 11. N e g o t i a b l e certificates of deposits over $ 1 0 0 , 0 0 0 at w e e k l y r e p o r t i n g banks, except foreign h o l d i n g s . C o m m e r c i a l paper held institutions. outside banks and other financial S h o r t - t e r m m a r k e t a b l e U . S . Government s e c u r i t i e s excluding official, foreign, and financial i n s t i t u t i o n h o l d i n g s . A l l issues due in one year or less, including bonds and notes, plus a sliding proportion of issues d u e in 13 to 24 m o n t h s . S e r i e s E and H savings bonds held by i n d i v i d u a l s . S u m of columns 3 and 4 to column S u m of columns 4, 5, and 1. 8 to c o l u m n 1. C o l u m n 6 to column 1. C o l u m n 1 to G N P . A n n u a l a v e r a g e s are based on 12-month a v e r a g e s of c o l u m n 1 and annual G N P . Q u a r t e r l y averages are based on 3 - m o n t h averages of c o l u m n 1 and q u a r t e r l y GNP. S u m of columns 3 and 4 to G N P . A n n u a l a v e r a g e s are based on 12-month average of columns 3 and 4 and a n n u a l G N P . Q u a r t e r l y a v e r a g e s are based on 3 - m o n t h a v e r a g e of columns 3 and 4 and q u a r t e r l y G N P .
@FedFRASER