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L.4.3
IfC^vjl*a-*
4- V
MMHyXAHD MONETARY DEVELOPMENTS IK MAY I960
Bank c r e d i t . T o t a l l o a n s and Investments a t a l l commercial banks
d e c l i n e d s l i g h t l y i n May, u s u a l l y a month of l i t t l e change. T o t a l l o a n s
r o s e m o d e r a t e l y f u r t h e r , $600 m i l l i o n , w h i l e h o l d i n g s of U. S . Government
s e c u r i t i e s d e c l i n e d by a b o u t t h e same amount. Holdings of o t h e r s e c u r i t i e s
a l s o d e c l i n e d somewhat f u r t h e r . During t h e month t h e T r e a s u r y r a i s e d $300
m i l l i o n i n cash by o f f e r i n g new b i l l s i n e x c e s s of weekly m a t u r i t i e s .
At c i t y b a n k s , l o a n growth i n May was l e s s t h a n i n t h e same month
of o t h e r y e a r s of r i s i n g economic a c t i v i t y b u t a t banks o u t s i d e l e a d i n g
c i t i e s i t was comparable w i t h e a r l i e r y e a r s . R e d u c t i o n s i n h o l d i n g s of
U. S . Government s e c u r i t i e s were s m a l l e r t h a n u s u a l a t c i t y banks b u t l a r g e r
than usual a t other banks.
So f a r t h i s y e a r , t o t a l c r e d i t a t a l l commercial banks has d e c l i n e d
about $ 3 . 5 b i l l i o n , over h a l f a g a i n a s much a s i n any o t h e r r e c e n t y e a r .
While t h e r e d u c t i o n i n h o l d i n g s of U. S . Government s e c u r i t i e s was somewhat
s m a l l e r t h a n i n 1955* 1956, o r 1959, l o a n growth was o n l y o n e - t h i r d t o oneh a l f a s l a r g e . T h i s s m a l l e r l o a n growth r e f l e c t e d a r e d u c t i o n in l o a n s a t
c i t y banks i n c o n t r a s t w i t h i n c r e a s e s i n o t h e r r e c e n t y e a r s . At banks o u t s i d e l e a d i n g c i t i e s , however, l o a n growth was l a r g e r t h a n i n t h e comparable
p e r i o d s of e a r l i e r y e a r s .
B u s i n e s s l o a n s ( e x c l u d i n g l o a n s t o f i n a n c e companies and o t h e r
f i n a n c i a l b u s i n e s s e s ) i n c r e a s e d $300 m i l l i o n i n May, c o n s i d e r a b l y l e s s t h a n
i n May 1959 b u t w i t h i n t h e 1955 and 1956 range of i n c r e a s e s . So f a r i n
i 9 6 0 , b u s i n e s s l o a n s have i n c r e a s e d around a s much a s i n t h e comparable
p e r i o d of 1955 and 1959; b u t much l e s s t h a n i n 1956. R e l a t i v e l y s h a r p
e x p a n s i o n o c c u r r e d i n t h e s e l o a n s i n F e b r u a r y and March, when i n v e n t o r y
borrowing by m e t a l s m a n u f a c t u r e r s was heavy, b u t s u b s e q u e n t l y growth
moderated.
Loans t o m a n u f a c t u r e r s of m e t a l s and m e t a l p r o d u c t s i n c r e a s e d
m o d e r a t e l y i n May a f t e r d e c l i n i n g d u r i n g most of A p r i l . . Loans t o t r a d e
concerns c o n t i n u e d t o expand a t a r e c o r d r a t e i n May. Net loajn repayments
by food p r o c e s s o r s , and commpdity d e a l e r s , were a b o u t t h e u s u a l s e a s o n a l
volume.
Consumer l o a n s a t a l l commercial banks a r e e s t i m a t e d t o have
i n c r e a s e d $300 m i l l i o n i n May, somewhat more t h a n u s u a l f o r t h i s month.
So f a r i n i 9 6 0 , growth h a s been l e s s t h a n i n 1959 b u t comparable w i t h
1956 and 1955.
Real
f u r t h e r i n May
t h a n o f f s e t by
l o a n s h a s been
e s t a t e l o a n s a t a l l commercial banks i n c r e a s e d s l i g h t l y
a s a c o n t i n u e d s m a l l d e c l i n e a t c i t y banks p r o b a b l y was more
growth a t o t h e r b a n k s . So f a r t h i s y e a r , e x p a n s i o n i n t h e s e
much l e s s t h a n u s u a l . S e c u r i t y l o a n s d e c l i n e d somewhat i n
Not f o r p u b l i c a t i o n
-V
kf
*
LA.3
-
2
-
May, but on b a l a n c e have Increased s l i g h t l y s i n c e March f o l l o w i n g a sharp
reduction e a r l y in the y e a r .
Deposit r a t i o s . The r a t i o of t o t a l loans t o t o t a l d e p o s i t s a t
a l l commercial banks, a f t e r d e c l i n i n g i n A p r i l , r o s e t o a new postwar
peak of 5 6 . 9 p e r cent i n May. E a t i o s increased a t a l l c l a s s e s of member
banks. They were a t peak l e v e l s a t r e s e r v e c i t y and country banks b u t
a t c e n t r a l r e s e r v e c i t y banks in New York and Chicago t h e y were s t i l l
s l i g h t l y below t h e March h i g h s .
D e p o s i t s and c u r r e n c y . S e a s o n a l l y a d j u s t e d demand d e p o s i t and
currency h o l d i n g s of b u s i n e s s e s and i n d i v i d u a l s d e c l i n e d $ 1 . 8 b i l l i o n in
May, b r i n g i n g t h e t o t a l d e c l i n e so f a r t h i s y e a r t o $ 2 . 6 b i l l i o n . At t h e
end of May, t h e s e a s o n a l l y a d j u s t e d money supply was about 2 p e r c e n t '
below t h e y e a r - a g o l e v e l . The May d e c l i n e was a s s o c i a t e d w i t h an u n u s u a l l y
sharp b u i l d - u p i n U. S . Government d e p o s i t s which r o s e $ 2 . 4 b i l l i o n compared
w i t h an average i n c r e a s e over t h e p a s t f i v e y e a r s of only $700 m i l l i o n .
Treasury t a x r e c e i p t s i n May were much l a r g e r t h a n expected and e x p e n d i t u r e s were s l i g h t l y l e s s . An o f f s e t t o t h e money supply d e c l i n e can be
expected l a t e r a s T r e a s u r y d e p o s i t s a r e drawn down t o t h e u s u a l o p e r a t i n g
l e v e l s and t h e f u n d s a r e s h i f t e d back i n t o p r i v a t e d e p o s i t s .
Time d e p o s i t s a t commercial banks increased moderately f u r t h e r
in May. So f a r t h i s y e a r , growth has been about t h e same a s in 1955 and
1956 but l e s s t h a n h a l f a s much a s in 1959* At mutual s a v i n g s banks,
d e p o s i t growth h a s been c o n s i d e r a b l y l e s s t h a n u s u a l so f a r i n i 9 6 0 .
Deposit t u r n o v e r . The s e a s o n a l l y a d j u s t e d a n n u a l r a t e of demand d e p o s i t
t u r n o v e r a t banks o u t s i d e New York and o t h e r f i n a n c i a l c e n t e r s i n c r e a s e d
t o 2 6 . 3 times i n May from 2 6 . 1 i n A p r i l ( r e v i s e d ) , b u t i t i s s t i l l s l i g h t l y
below t h e l e v e l i n F e b r u a r y . The May r a t e was over 7 p e r c e n t above t h a t
of May a y e a r a g o .
Liquid a s s e t s h e l d by t h e p u b l i c . Liquid a s s e t s h e l d by t h e
p u b l i c showed l i t t l e change in A p r i l a f t e r expanding by about two b i l l i o n
d o l l a r s in t h e f i r s t q u a r t e r of t h i s y e a r , a s shown in Table 7.
For t h e convenience of u s e r s , back data f o r Table 7 on a monthly
b a s i s b e g i n n i n g w i t h 1946 a r e a t t a c h e d t o t h e end of t h i s r e v i e w . These
d a t a include u n a d j u s t e d f i g u r e s a s w e l l a s t h e s e a s o n a l l y a d j u s t e d s e r i e s ,
and a l s o p r o v i d e s e a s o n a l a d j u s t m e n t f a c t o r s f o r each of t h e components
f o r 1959 and i 9 6 0 . Annual averages of s e a s o n a l l y a d j u s t e d d a t a b e g i n n i n g
w i t h 1946 a p p e a r on page 18.
These d a t a show t h a t t o t a l l i q u i d a s s e t s h e l d by t h e p u b l i c have
i n c r e a s e d a t a f a i r l y s t e a d y pace throughout t h e postwar p e r i o d . They have
not expanded a s f a s t a s g r o s s n a t i o n a l p r o d u c t , however, and excess l i q u i d i t y
accumulated d u r i n g t h e War h a s g r a d u a l l y been a b s o r b e d . The r a t i o of l i q u i d
a s s e t s t o GNP h a s d e c l i n e d from 111 p e r c e n t in 1946 t o 80 p e r c e n t i n 1959,
Not f o r p u b l i c a t i o n
>
.
- 3 -
with only s l i g h t i n t e r r u p t i o n s in t h e d e p r e s s i o n y e a r s 1949, 1954, and
1958, when GNP t e m p o r a r i l y f e l l o f f . Two-thirds of t h e $147 b i l l i o n
postwar expansion i n l i q u i d a s s e t s h a s been i n p e r s o n a l - t y p e s a v i n g s ,
of which about h a l f r e p r e s e n t s an i n c r e a s e in savings and l o a n s h a r e s .
Growth in t h e money supply and in h o l d i n g s of s h o r t - t e r m Governments
have accounted f o r approximately o n e - f o u r t h and o n e - e i g h t h of t h e t o t a l ,
respectively.
Bank r e s e r v e s . Net borrowed r e s e r v e s of a l l member banks
averaged $40 m i l l i o n in May compared w i t h $200 m i l l i o n in A p r i l . By l a t e
May, however, t h e r e s e r v e p o s i t i o n of member banks had s h i f t e d t o a s m a l l
amount of f r e e r e s e r v e s and t h e y continued t o show f r e e r e s e r v e s in e a r l y
J u n e . I n December 1959# n e t borrowed r e s e r v e s had averaged $425 m i l l i o n .
Borrowings d e c l i n e d t o $500 m i l l i o n i n May and excess r e s e r v e s rose t o
$460 m i l l i o n . Reserve p o s i t i o n s were e a s i e r a t a l l c l a s s e s of banks i n
May t h a n i n A p r i l e x c e p t a t country banks where f r e e r e s e r v e s , which have
been d e c l i n i n g s i n c e J a n u a r y , dropped f u r t h e r .
During May, on a d a i l y average b a s i s , r e s e r v e s were s u p p l i e d
p r i n c i p a l l y by an i n c r e a s e of $330 m i l l i o n in F e d e r a l Reserve h o l d i n g s
of U. S. Government s e c u r i t i e s . F o r e i g n o p e r a t i o n s and r e d u c t i o n s in
currency and Reserve Bank f l o a t d r a i n e d a s m a l l volume of f u n d s . Required
r e s e r v e s i n c r e a s e d $80 m i l l i o n b u t t h i s r e f l e c t e d , on a monthly a v e r a g e ,
t h e c a r r y o v e r of t h e s u b s t a n t i a l growth i n t h e second h a l f of A p r i l
a s s o c i a t e d w i t h T r e a s u r y f i n a n c i n g . During most of May, r e q u i r e d r e s e r v e s
declined.
Discount r a t e . E f f e c t i v e June 3, w i t h t h e a p p r o v a l of t h e Board
of Governors, t h e F e d e r a l Reserve Banks of P h i l a d e l p h i a and San F r a n c i s c o
reduced t h e i r d i s c o u n t r a t e s from 4 p e r cent t o 3 - 1 / 2 p e r c e n t . By midJune a l l o t h e r Banks had a l s o lowered t h e r a t e .
Hot f o r p u b l i c a t i o n
- k Table 1
L.U.3
Estimated Changes in Loans and Investments at All Commercial Banks
(In b i l l i o n s of dollars)
—
Item
Lagt t Wednesday of A p r i l t o l a s t Wednesday of May
I960
1959
1958
1957
1956
1955
+ 0.6
+ 1.2
- 0.6
+ 0.2
+ 0.8
+ 1.0
+ 0.3
+ 0.1
— 0.2
+ 0.1
+ 0.3
— 0.1
+ 0.1
+ 0.8
+ 0.3
- 0.2
1/
+ 0.3
3/
+ 0.2
- 0.3
+ 0.2
- 0.6
1/
+ 0.1
- 0.1
1/
0.2
0.1
0.1
0.2
+ 0.4
+ 0.3
Hi
+ 0.8
- 0.1
- 0.2
U. S. Government s e c u r i t i e s
- 0.7
- 1.0
Other s e c u r i t i e s
- 0.2
- 0.2
T o t a l l o a n s ( l e s s bank)
Business 2 /
Real e s t a t e
Security
Agricultural
Consumer
Nonbank f i n a n c i a l
All other 2/
S a l e s f i n a n c e companies
Business l e s s s a l e s f i n a n c e
T o t a l ( l e s s bank)
T o t a l l o a n s ( l e s s bank)
Bu si nes s 2 /
Real e s t a t e
Security
Agricultural
Consumer
Nonbank f i n a n c i a l
All other 2/
S a l e s f i n a n c e companies
Business l e s s s a l e s finance
%/
+ 0.1
1/
0.2
3/
+ 0.2
- 0.2
+ 0.1
- 0.1
+ 0.1
1/
+ OA
+ 0.3
- oA
- 0.9
- 0.6
- 0.1
+ 0.1
+ 0.1
- 0.2
- 0.3
+ 0.1
- 0.2
V
- 0.3
+ 0.1
1/
%
i!
4
L a s t Wednesday of A p r i l t o l a s t Wednesday of May
1951
1950
1949
195^
1953
-
0.1
w
0# 1
+ 0.2
+ 0.2
+ oA
- oA
+
+
-
0.2
0.1
0.5
0.5
- 0*2
+ 0,1
- 0.1
+ 0.1
—0.1
+ 0.1
a.a.
a »a»
- 0.1
+ 0.2
- 0.3
+ 0.1
+ 0.2
1/
+ 0.2
#
-^.1
+^0.1
1/
0.2
HI HI
O O
6 1
Item
s
+ 0.3
+
+
+
+
--0.3
n.a.
n.a.
— 0,6
+ 0.2
- OA
+ 0.1
-
-
U. S . Government s e c u r i t i e s
+ 1.2
Other s e c u r i t i e s
+ 0.1
1/
1/
1952
+ 0.1
a.a.
±1
.1
0.1
+ 0.3
Xi
n,a»
#
+ 0.6
1/
a,a,
+ 0.1
n.a.
n.a.
n.a.
n.a.
+ 1.2
+ 0.1
T o t a l ( l e s s bank)
+ 1.2
- 0.2
+ 1.0
+ 0.7
+ 0.9
- 0.7
Less t h a n $50 m i l l i o n , n . a # Not a v a i l a b l e . 2 / Data a r e on r e v i s e d b a s i s
b e g i n n i n g June 19$9 and e x c l u d e l o a n s t o nonbank f i n a n c i a l i n s t i t u t i o n s . For
p r e v i o u s y e a r s , l o a n s t o s a l e s f i n a n c e companies a t weekly r e p o r t i n g b a n k s have been
shown s e p a r a t e l y t o p r o v i d e r o u g h l y comparable changes i n b u s i n e s s l o a n s on r e v i s e d
b a s i s . 3 / I n c l u d e d i n b u s i n e s s and " o t h e r l o a n s " , k / See above d a t a .
Not
for publication
/
L.U.3
- 5 "
Table 1
E s t i m a t e d Changes i n Loans and I n v e s t m e n t s a t A l l Commercial Banks
( I n b i l l i o n s of d o l l a r s )
End of December t o l a s t Wednesday of May
Item
T o t a l l o a n s ( l e s s bank)
Business 2 /
Real e s t a t e
Security
Agricultural
Consumer
Nonbank f i n a n c i a l
All other 2 /
I960
1959 6 /
+ 1.1
+ 0.9
+ 0.3
+ 1.3
- 1.2
+ .0.3
+ 0.8
- o.L
+ 0.3
S a l e s f i n a n c e companies
Business l e s s s a l e s f i n a n c e
5/
1958
1957
1956
1955
+ 3.0
- 1.9
+ 0.3
+ 2.7
+ 2.4
+ 1.0
- 2.4
+ 0.4
+ 0.2
+ 1.6
+ 0.8
+ 0.3
- 0.1
- 0.6
- 0.1
+ 1.1
2/
+ OA
1/
+ 0.2
1/
- 0.5
- 0.2
+ 0.6
2/
%
- 0,2
+ l.i
- 0.5
- 0.1
+ 0.7
+
+
+ 0.2
+ 0.5
- 0.4
2/
1.1
0.2
0.8
0.8
3/
+ 1.0
- 0.9
- 1.5
+ 0.1
+ 0.1
+ 2.0
+ 0.4
+ 0.7
U. S . Government s e c u r i t i e s
- 3*8
- 3.8
+ 4.9
- 1.5
- 4.3
- 4.0
Other s e c u r i t i e s
- 0.7
+ 0.2
+ 1»5
+ 0.5
-
+ 0.4
- 3.L
- 0.5
+ 4.5
-
- 1,9
T o t a l ( l e s s bank)
Item
T o t a l l o a n s ( l e s s bank)
Business 2 /
Real e s t a t e
Security
Agricultural
Consumer
Nonbank f i n a n c i a l
All other 2 /
-
1,2
End of December t o l a s t Wednesday of Bay
1954
1953
1952
1951
- 1.2
+ 0.6
+ 0.4
+ 1.9
+ 1.0
- 1.2
+ 0.3
- 0.1
1/
- 0.3
+
+
+
+
+
+
+
+
+
+
-
V
+ q.4
+ 0.1
+ 0.1
2/
1 l
- 0.2
0.3
0.4
0.5
0.2
1.1
H CXI
O O
S a l e s f i n a n c e companies
Business l e s s s a l e s finance
0.7
0.3
U. S . Government s e c u r i t i e s
- 0.1
-
5.0
Other s e c u r i t i e s
+ 0.6
+ 0.3
-
1.0
1.0
0.3
0.5
0.1
2/
1.6
0.5
0.5
0.1
+ 0.3
1950
1949
-
1.8
0.4
0.7
0.3
0.2
n.a.
n.a •
n.a .
n.a.
+ 0.6
+ 0.2
¥/
n.a.
n.a«
-
0.3
0.7
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
-
0.8
- 3.9
- 0.9
+ 0.6
+ 0.5
+ 0.1
+ 0.8
+ 0.1
T o t a l ( l e s s bank)
+ 0.9
-1.1
- 0.7
- 1,9
- W , t 9,1
wiau
au-Liion. n . a . «ot> avaxxaoxe. <t/ uai>a a r e on r e v i s e d o a s i s
b e g i n n i n g June 1959 and e x c l u d e l o a n s t o nonbank f i n a n c i a l i n s t i t u t i o n s . For
p r e v i o u s y e a r s # l o a n s t o s a l e s f i n a n c e companies a t weekly r e p o r t i n g b a n k s have been
shown s e p a r a t e l y t o p r o v i d e r o u g h l y comparable changes i n b u s i n e s s l o a n s on r e v i s e d
b a s i s . 3 / I n c l u d e d i n b u s i n e s s and " o t h e r l o a n s " , k / See above d a t a .
2 / Dates a r e
f o r December 3 1 .
6 / As a r e s u l t of bank s t r u c t u r e G a n g e s i n J a n u a r y and A p r i l 1959
t o t a l c r e d i t i n c r e a s e d ove r $600 m i l l i o n ; t o t a l l o a n s $400 m i l l i o n ; U. S . Government
s e c u r i t i e s , $20© m i l l i o n ; and o t h e r s e c u r i t i e s , $100 m i l l i o n .
http://fraser.stlouisfed.org/
Hot f o r p u b l i c a t i o n
Federal Reserve Bank of St. Louis
-
L.U.3
6
-
Table 2
Changes In %oans and Investments at Weekly Reporting
Msfltoer
and Sonreporfcing
(in billions of
L a s t Wednesday of A p r i l t o l a s t Wednesday of May
Item
I960
Weekly r e p o r t i n g b a n k s
1959
1958
1957
1956
+ 0.1
— 0.2 - 0.2
- 0.3
+ 0.-6
- 0.6
- 0.2
— 0.1
- 0.9
+ 0.5
+ 0.5
— 0.6
- 0.5
— 0.6
+ 0.4
- 0.7
- 0.4
- 0.5
- 0.1
— 0.1
- 0.5
+ 0.5
- 0.5
+
+
+
+
+
+
+
+
+
+
+
+
+ 0.6
+ 0.1
2/
+ 0.6
1955
1/
Total loans
U. S . Government s e c u r i t i e s
Other s e c u r i t i e s
Total loans'and investments
- 0.5
Noor@##ting b a n k s 1 /
Total loans
U, S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
0.5
0.2
0.1
0.2
0.5
0.5
0.2
0.5
0.5
0.5
0.1
0.5
L a s t Wednesday of A p r i l t o l a s t Wednesday of May
Item
Weekly r e p o r t i n g b a n k s
0.6
0.4
0.1
0.2
1954
1955
1952
1951
1950
1949
+ 0.1
+ 0.9
2/
+ 1.0
— 0.2
- 0.5
2/
- 0.7
+
+
+
+
0.1
0.5
0.2
0.5
— 0.1
- 0.4
— 0.1
- 0.5
+ 0.1
+ 0.5
— 0.1
+ 0.6
+
+
+
+
t
+
+ 0.1
- 0.1
+
+
0.1
0.1
0.1
0.2
+ 0.5
+
+
+
+
- 0.1
1/
Total loans
U. S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
0.5
1.2
0.1
1.0
U n r e p o r t i n g banks 1 /
Total loans
U. S . Government
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
0.2
0.5
0.1
0.2
~zT
1 / Beginning 1959» changes a r e on r e v i s e d b a s i s .
2 / Less t h a n $50 m i l l i o n .
# Not f o r p u b l i c a t i o n
%
+ 0.5
0.5
0.1
0,1
0.4
%
- 0.1
- 7 ..
L.U.3
Table 2
Changes in X-oans and Investments at Weekly Reporting
Madder Banks and Nonreporbing Banks
(In billions ef A l a r * ?
L a s t Wednesday of December t o l a s t Wednesday of May
Item
I960
Weekly r e p o r t i n g b a n k s
1959
1958
1957
1956
1955
+
+
-
1.1
3.2
0,1
2.0
— 2.6
+ 4.7
+ 1.0
+ 3.1
- 1.0
- 0.8
+ 0.1
- 1*7
+
-
+
+
-
i/+
I/IA
i/+
1.9
0.6
0,1.
1.5
+
+
+
+
+
+
+
+ 1.2
- 1.1
2/
+ 0.1
1/
Total loans
U. S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
— 0*6
- 1.5
- 0.3
- 2.3
1.5
3.2
0.3
2.0
1.3
3.6
0.1
2,2
Nonr^gorting b a n k s 1 /
Total loans
U, S# Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
1.7
2.3
O.lt
1.1
0.7
0.2
0,5
1.4
1.3
0.7
0,4
1.0
+ 1.1
— 0.4
+ 0,3
+ 1.0
L a s t Wednesday of December t o l a s t Wednesday of May
Item
Weekly r e p o r t i n g b a n k s
+
-
1954
1953
1952
1951
1950
+
+
-
+
-
0.3
4.2
0* 1
4.3
+
-
0.2
0.5
0.4
0.3
+ 0.8
- 3.2
2/
- 2.4
+
+
-
+ 0.9
- 0.8
+ 0.2
+
+
+
0.6
0.3
0.1
0.4
+ 1.1
— 0.7
+ 0.1
+ 0.5
+ 0.1
+ 0.2
+ 1.2
1949
1/
Total loans
U. S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
1.8
0.2
0.6
1.0
0.1
1.0
0.6
0.3
- 1.9
+ 1.2
+ 0.2
-
0.5
+
—
-
0.1
0.6
0.1
0.6
Nonreporting banks 1 /
Total loans
U. S . Government
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
+ 0.6
- 0.3
2/
+ 0.3
2/
+ 0.9
1 / Beginning 1959 changes a r e on r e v i s e d b a s i s .
2 / Less t h a n $50 m i l l i o n .
jV As a r e s u l t of bank s t r u c t u r e changes i n J a n u a r y and A p r i l 1959, t o t a l c r e d i t i n c r e a s e d
over $600 m i l l i o n ; t o t a l l o a n s , $ 4 0 0 m i l l i o n ? TJ. S. Government s e c u r i t i e s , $200 m i l l i o n ;
and o t h e r s e c u r i t i e s , $100 m i l l i o n .
#
$ Not for publication
r
L.U.3
-
8
-
Table 3
Changes i n Commercial and I n d u s t r i a l Loans l /
( I n m i l l i o n s of d o l l a r s )
Food p r o c e s s o r s
Commodity d e a l e r s
Trade c o n c e r n s
Total
L a s t Wednesday i n A p r i l t o l a s t Wednesday i n May
I960
1958
y
-
1951i
1953
1952
-102
- 31
+ 5b
- 79
+
-
78
25
18
85
— lolt
- 121
+ 23
- 205
-116
- 118
7
- 2U1
- 133
-
-
+
1*7
-
12
-
96
+
35
+
+ 220
+ 120
+ k07
+ 205
+ 229
+ 55
-
96
+
+
29
34
+
17
29
+
19
28
+
+
52
3
+
-
60
10
+
19
6
-
57
3li
bS + 2k -
5
91
1*6
36
3k
+ 50
2
+
+
+
+
30
21
3
2/
+ 19
+ 103
-
It
30
+ 388
+ 133
+
90
9
9k
76
5
10
+ 3k - 17
9 — 87
+
+
53
73
32
+
+
+
82
29
- 119
+ 25
+
+
35
+
7k + 75
+
3
- 358
+
27
5
+ 210 + 197
+ k2 ,^ - 1 0 1
- 193
^-136
- 271
- 26
- 223
- 1*6
-
22
+ 251 ¥ + 96
V-329
- 297
- 2 69
+ 327 ;
j/-317
- 201
T o t a l change
+ 232
+ 1*21
1
+
s
+ 198
+ 136
+ 315
+ 166
T o t a l change e x c l u d i n g
sales finance
+ 232
+ lt5l
- 271
«
kl
-=}
2\J
3/
~~
k/
1955
- 70
- 8k
+ 32
- 122
+ I9x
+ 88
Classified
Unclassified
6/1957 6 / 1 9 5 6
— 75
- 92
+ 15
- 152
— 56 "•* - 6 - 8 1 .
76 - 80 - Ill
+ 89 + tj.3 - lit
b3 - 1,3 - 136
Sales finance
All other - t o t a l
M e t a l s and p r o d u c t s
Textiles, apparel
and l e a t h e r
Petroleum, c o a l e t c .
Other m a n u f a c t u r i n g
and mining
Public u t i l i t i e s
Construction
A l l o t h e r t y p e s of
business
1959
+
+ 72
6
6
+
+
il-3
+
39
- 16
- 39
+ 28
+
62
+
5
+ 22
+
L e s s t h a n $50 m i l l i o n .
I n c l u d e s CCC c e r t i f i c a t e s of i n t e r e s t which a r e e s t i m a t e d t o h a v e d e c l i n e d $165
million.
I n c l u d e s CCC c e r t i f i c a t e s of i n t e r e s t which a r e e s t i m a t e d t o have d e c l i n e d $60
million
5 / Not i n c l u d e d i n b u s i n e s s l o a n s on r e v i s e d b a s i s .
%/ I n o r d e r t o keep c o m p a r i s o n s on a f o u r - w e e k b a s i s t h e f o l l o w i n g d a t e s were u s e d :
1957, A p r i l 2L-May 2 2 ; 1 9 5 6 , A p r i l 25-May 2 3 .
for publication
Digitized Not
for FRASER
it
O
B u s i n e s s o i Borrower
1
%
Table 3
Changes i n Commercial and I n d u s t r i a l Loans 1 /
( I n m i l l i o n s of d o l l a r s )
Last Wednesday i n December t o l a s t Wednesday i n May
Bu si nes s of Borrower
1958
1959
I960
1956
1957
- 833
- 581
+ 206
-
- 891
-1,524
-
- 808
-
381
+ 350
- 242
-
+ 977
T"955" T 1 9 7
- 198
3T7T
+ 648
+~T73
+1,014
+ 107
+ 89
+ 176 + 180
+ 251* + 277
50
8
+ 110
+
56
-
+ 117
+ 162
- 40
+ 264
+ 143
+ 31
+ 109
+ 142
+ 70
23
58
53
+
+
+
56
79
8
+
60
- 250
+
27
+
61
3
-
-140
+
+
43
-
34
-
63
-2,232
- 245
- 11
- 176
+1,105 + 518 - 1 , 2 8 4 - 341
+ 56 ^ - 3 0 0 y - 2 4 2 - 2 1 3
+ 248
-2,477
- 187
+1,161
+ 263
- 1 , 5 6 6 - 238
V
-
15
- 911
+
+1,360
+ 597
+ 66 9
- 214
+ 10
+ 935
+ 61|A
+1,896
+ 220
+
26
+ 175
- 115
- 171
+ 262
- 174
+ 71
+ 156
- 336
+ 51
+ 113
-
+ 568
+ UjO
+ 133
+ 115
T o t a l change
+ 707
T o t a l change e x c l u d i n g
sales finance
+ 707
Classified
Unclassified
- 556
- 541
- 474
- 327
- k3
- 844
- 658
-
1952
- 511
402
307
261
448
All other - t o t a l
Metals and p r o d u c t s
Textiles, apparel
and l e a t h e r
Petroleum, c o a l e t c .
Other m a n u f a c t u r i n g
and mining
Public u t i l i t i e s
Construction
A l l o t h e r t y p e s of
business
1953
327
290
206
Hi
+
-
Sales finance
1954
+
-
- 573
- 583
+ 362
Food p r o c e s s o r s
Commodity d e a l e r s
Trade c o n c e r n s
Total
1955
3
- 474
- 278
- 473
- 170 - 50
- 1 , 1 0 6 - 997
78
+ 101
9
51
62
- Loo
+ 103
92
y+218
97
110
287
+1,018
75
+ 132
- 795
- 100
>1,526 - 554 - 895
+1,542 >Z-132 ^ 1 , 2 8 4 - 457
- 608
2/ Includes CCC c e r t i f i c a t e s of i n t e r e s t which are estimated a t have d e c l i n e d $470
million.
3 / Includes CCC c e r t i f i c a t e s of i n t e r e s t which are estimated t o have increased $65 m i l l i o n .
Ij/ Not included i n b u s i n e s s l o a n s on r e v i s e d b a s i s .
Not
f o r publication
#
f
,
L.U.3
-
10
-
Table I4.
E s t i m a t e d Ctyknges i n D e p o s i t s and C u r r e n c y
( I n b i l l i o n s of d o l l a r s J
L a s t Wednesday of A p r i l t o l a s t Wednesday of May
Item
Seasonally adjusted data 1 /
Demand d e p o s i t s a d j u s t e d
Currency o u t s i d e b a n k s
Total
Seasonally unadjusted data 1 /
Demand d e p o s i t s a d j u s t e d
Currency o u t s i d e b a n k s
Total
Time d e p o s i t s
Commercial b a n k s
Mutual s a v i n g s b a n k s
U. S . Government d e p o s i t s
Total
Factors affecting deposits
and c u r r e n c y
Bank l o a n s and i n v e s t m e n t s
o t h e r t h a n U. S . Govt. s e c . 3 /
Commercial
~
Mutual s a v i n g s
Bank h o l d i n g s of U. S .
Government s e c u r i t i e s :
F e d e r a l Reserve
Commercial
Mutual s a v i n g and o t h e r
Gold s t o c k and f o r e i g n
d e p o s i t s a t F , R. Banks
Other f a c t o r s
i960
1959
1958
1957
1956
1955
— 1.8
+ 0.2
+ 0.5
- 0.6
+ 0.2
- 0.4
+ 0.1
0.3
+ 0.3
+ 0.1
+ "o75
+ 0.2
- 3.7
+ 0,2
- 3*5
+ 0.3
+ 0.3
2/
+ 2.k
T o 3
- 1.8
+ 0.2
1.6
0.6
0.5
0.1
0.6
-OA
2/
+ 0.5
- 0.4
. 1.4
- 2.5
+ 0.5
- 1.9
+ 0.4
- 1.2
+ 0.1
0.7
+ 0.3
+ 0.2
1.1
0.3
0.2
0.2
+ 0.2
-
+
+
+
+
1.2
1.0
0.8
0.2
0.1
- 0.2
2.0
0.8
0.2
1.1
- 0.1
-
- 1.5
+ 0.2
+ 1.2
—IT
±_M
- 0.4
( s i g n s i n d i c a t e e f f e c t on d e p o s i t s and c u r r e n c y )
* 0.3
+""oHI
+ 0.1
—0.6
+ 0.2
- 0.7
- 0.1
- 0.1
-
0.4
+ 0.6
+ 1.1
+ 1.2
+ 0.1
- 0.3
- 0.5
+ 0.3
0.6
0.3
+"d75
+ 0.3
- 0.7
+ 0.3
- 1.0
M
0.7
- 0.6
- 0.2
0.1
2/
- 0.7
+ 0.1
- 0.9
2/
0.2
0.6
0.4
0.4
0.2
0.2
- 0.4
+ 0.3
- 0.4
2/
+ 0.1
2/
0.8
0.7
0.2
0.8
- 0.1
-
0.6
0.1
s/,
- 0.4
i / S e a s o n a l l y a d j u s t e d d a t a a r e f o r l a s t Wednesday t h r o u g h o u t } u n a d j u s t e d d a t a a r e f o r
l a s t Wednesday e x c e p t i n c a s e of June and December c a l l d a t e s , when a v a i l a b l e *
2 / Less t h a n $J>0 m i l l i o n .
3 / T o t a l i n c l u d e s f o r e i g n l o a n s on g o l d , h o l d i n g s of b a n k e r s ' a c c e p t a n c e s a t t h e
F e d e r a l R e s e r v e , and l o a n s t o f o r e i g n b a n k s ; changes i n t h e s e i t e m s a r e g e n e r a l l y
r e l a t i v e l y s m a l l . Even i f t h e r e were no changes i n o t h e r i t e m s , changes a t comm e r c i a l b a n k s e x c l u d e a l l i n t e r b a n k l o a n s , domestic and f o r e i g n , w h i l e t o t a l l o a n s
exclude o n l y t h o s e t o domestic b a n k s . I n a d d i t i o n t h e r e i s some l a c k of
s y n c h r o n i z a t i o n i n r e p o r t i n g a s s e t and l i a b i l i t y i t e m s used i n computing " l o a n s n e t " •
Not f o r p u b l i c a t i o n
s
- 11 -
L.U.3
Table 1;
E s t i m a t e d C h a n g e s i n D e p o s i t s and C u r r e n c y
( I n b i l l i o n s of d o l l a r s )
End of December t o l a s t Wednesday of May
Item
Seasonally unadjusted data 1 /
Demand d e p o s i t s a d j u s t e d ™"
Currency o u t s i d e b a n k s
Total
Time d e p o s i t s
Commercial b a n k s
Mutual s a v i n g s b a n k s
U. S . Government d e p o s i t s
Total
Factors affecting deposits
and c u r r e n c y
Bank l o a n d and i n v e s t m e n t s
o t h e r t h a n U. S . Govt, s e c * 3 /
Commercial
***
Mutual s a v i n g s
Bank h o l d i n g s of U. S .
Government s e c u r i t i e s :
F e d e r a l Reserve
Commercial
Mutual s a v i n g and o t h e r
Gold s t o c k and f o r e i g n
d e p o s i t s a t F . R. Banks
Other f a c t o r s
l/
~
2/
3/
""
1959
1958
1957
— 2.6
2/
— 2.6
+ 1.7
+ 0.1
+ 1.8
+ 1.6
+ 0.1
- 0.7
+ 0.4
+ 1.7
-
0.3
-
0.2
- 7*6
- 1.3
- 4.8
-
- 0.5
- 5.0
+ 5.5
- 6.6
- 0.4
-
5.7
-
- w
+ 0.8
+ 0.6
+ 0.3
+ 1.9
- 6.2
+
+
+
+
-
0.6
5.4
2.2
1.8
0.4
0.8
2.5
4.5
+ 4.6
+ 1.0
+ 1.4
+ 1.9
1 1
OO
HH
Seasonal!
data 1/
i
p
o
s
i
t
s
a
us t eel
Demand
Currency o u t s i d e b a n k s
Total
1956
i960
0.9
7.0
-6.1
+ 3.5
+ 3.0
+ 1.2
-
+ 0.6
+ 1.3
- 2.2
+
+
+
-
0.6
0.8
1.8
3.6
1955
+ 2.0
+ 0.1
+ 2.1
- 3.3
- 1.1
- 4.3
+ 1.2
0.6
+ 0.8
+ 0.8
- 2.2
4
( s i g n s i n d i c a t e e f f e c t on d e p o s i t s and c u r r e n c y )
+ 0.3
+ O.k
+ 0.7
- 5.0
- 3.8
-
0*2
+ 0.1
- 1.6
+1 ^
+ 0.8
+ 1.5
+ 0.6
- 0.4
+ 1.3
4- 0.8
- 4.1
- 0.4
- 3.8
+ 4.6
+ 5.0
- 3.6
- 1.9
- 1-5
- 0.4
- 1.3
- 1.1
- 2.4
+ 0.6
- O.T
+ 3.2
+ 0.1
- 0.2
- 0.2
+ 1.0
- 0.2
+ $*?•
+ 2.b
+ 1.1
4.3
0.1
0.2
1.2
+1.0
m
- 4.0
- 0.2
2/,
- 0.4
S e a s o n a l l y a d j u s t e d d a t a a r e f o r l a s t Wednesday t h r o u g h o u t ; u n a d j u s t e d d a t a sore f o r
l a s t Wednesday e x c e p t i n c a s e of June and December c a l l d a t e s , when a v a i l a b l e #
Less t h a n $f>0 m i l l i o n .
T o t a l i n c l u d e s f o r e i g n l o a n s on g o l d , h o l d i n g s of b a n k e r s ' a c c e p t a n c e s a t t h e
F e d e r a l R e s e r v e , and l o a n s t o f o r e i g n b a n k s ; changes i n t h e s e i t e m s a r e g e n e r a l l y
r e l a t i v e l y s m a l l . Even i f t h e r e were no changes i n o t h e r i t e m s , changes a t comm e r c i a l b a n k s e x c l u d e a l l i n t e i t a n k l o a n s , domestic and f o r e i g n , w h i l e t o t a l l o a n s
excludte o n l y t h o s e t o domestic b a n k s . I n a d d i t i o n t h e r e i s some l a c k of
s y n c h r o n i z a t i o n i n r e p o r t i n g a s s e t and l i a b i l i t y i t e m s used i n computing " l o a n s n e t " .
4 / I n J a n u a r y and A p r i l 1959; a s a r e s u l t of bank s t r u c t u r e c h a n g e s , demand d e p o s i t s
a d j u s t e d a t commercial banks i n c r e a s e d $200 m i l l i o n and t i m e d e p o s i t s $500 m i l l i o n .
D e p o s i t s a t m u t u a l s a v i n g s banks d e c l i n e d $300 m i l l i o n .
t
Not f o r p u b l i c a t i o n
-
L.4.3
12
-
Table 5
Free Reserves
( e x c e s s r e s e r v e s minus member bank b o r r o w i n g s ;
b a s e d on a v e r a g e s of d a i l y f i g u r e s ; i n m i l l i o n s of d o l l a r s )
New York
Chicago
Reserve
city
1
O
o
All
member
Quarterly averages
195>8:
First
Second
Third
Fourth
311*
508
3l*l
25
1959:
First
Second
Third
Fourth
I960:
1959:
I960:
10
18
28
1*1*
- 82
- 363
- 528
- 1*39
- 25
- 52
- 202
- 168
First
- 313
-
March
April
May
June
July
August
September
October
November
December
-
11*0
258
318
513
557
<15
193
1*59
1*35
1*25
-
January
February
March
April
May
-
360
361
219
195
39
-
A p r i l 27
May
it
- 1*2
- 228
- 51
- 97
11
18
June
Note:
25
1
h3
6
-
-
-
-
-
-
16
1*
1
17
27
63
- 55
- 191*
3 66
1*22
1*21*
280
-
67
56
1*2
83
-
215
393
1*31
385
225
137
11*6
196
Ii6
- 123
- 357
212
16
89
51
15
151
225
227
210
181*
109
- 122
- 61*
- Ill
- 63
- 1*7
- 35
- 1*1*
- 82
- 62
- lOlt
-
- 1*1*9
191*
178
133
101
121*
11*5
169
171
180
237
88
50
1
31
1*5
- 90
- 126
- 152
- 100
- 1*9
-
1*39
381
252
251*
173
257
197
182
190
138
10
it
10
1*6
3
52
-
-
21*7
251
218
185
158
53
93
1*9
99
91*
3
8
Data f o r second h a l f of May and June a r e P r e l i m i n a r y .
Not f o r p u b l i c a t i o n
228
281*
360
535
1*82
1*20
391
338
- 369
'
287
76
256
136
200
3
i
4
L«U»3
- 13 Table 6
Changes i n Member Bank R e s e r v e s , w i t h R e l e v a n t F a c t o r s
(Monthly a v e r a g e of d a i l y f i g u r e s ; i n m i l l i o n s of d o l l a r s )
May
Item
J a n u a r y - May
Year ending May
1960
1959
I960
1959
I960
19#
+
77
- 115
- 677
- 250
- 359
+ 575
+
77
-
- 677
- 19
- 696
- 250
- 69
- 319
+ 575
- 218
+ 357
- 666
- 319
+
+
-
Member bank r e s e r v e s
Required r e s e r v e s l /
E f f e c t of change i n
requirements
E f f e c t of d e p o s i t change
Excess r e s e r v e s 1 /
Total reserves held
Cash a l l o w e d a s r e s e r v e s
Reserve b a l a n c e s
+ 55
+ 132
T-ry
+ 119
Principal factors
C u r r en cy i n c i r c u l a t i o n
Gold s t o c k and f o r e i g n
accounts
Treasury operations
Federal Reserve f l o a t
Other f a c t o r s
E f f e c t of above
f a c t o r s on r e s e r v e s
+
-
115
30
81
- ai
-
30
359
15
3ltU
27k
618
+ 357
' s i g n s i n d i c a t e e f f e c t on r e s e r v e s )
-
12
- 186
+1,0h9
+ 880
- 235
+
-
39
29
39
25
- 177
- 15
2
- 51
+ ia
+ 10
- 383
+ 275
- 358
781
-
86
- &31
+ 992
- 137
- 235-
-2,279
+ 205
+ 3h7
-1,658
- 183
- 383
+2,635
329
32lt
5
3
+ 259
+ 3l4j.
- 85
-1,218
-1,296
- 392
- 102
- 185
+1,981
+I,9it3
+ 38
- 11
100
21
+
-
-
h3
375
-1,572
+ 22
298
- 130
108
- 561
- 55
- 693
+ 9b
F e d e r a l Reserve l o a n s and
investments:
Total
U, S . G o v t , s e c u r i t i e s
Outright
Repurchase agreements
Acceptances
D i s c o u n t s and a d v a n c e s :
To member b a n k s
To o t h e r s
1/
P r e l i m i n a r y f o r May I 9 6 0 .
Not f o r p u b l i c a t i o n
91
1
+
-
78
31
- Wi
-
5
- 33k
-
58
11
+ 210
+ 10
+
+
83
1
- 265
- 17
+ 61*8
+ 17
raoie f
L.M-O
- 14 -
Liquid A s s e t s Held by t h e P u b l i c — Seasonally Adjusted S e r i e s
(amounts i n b i l l i o n s of d o l l a r s 5 r a t i o s expressed as p e r c e n t a g e s )
End of
month
or y e a r
Demand
Personal-type savings
d
eposits Total
U. S. Govt
Total
p
e
r
s
o
n
a
l
a
d
j
u
s
t
e
d
Time
d
e
p
o
s
i
t
s
Savings
securities
U.
S.
liquid
and
t
y
p
e
a
d
j
u
s
t
e
d
1
/
and
Govt,
maturing
assets
loan
savings w i t h i n one
(2+3+8) c u r r e n c y savings Commer- Mutual
o u t s i d e (4+5+6+7) c i a l
savings
s h a r e s bonds
year J%/
banks 1 /
banks banks 2 /
T
1950
1951
1952
1953
195)l
1955
1956
1957
1958
1959:
March
April
May
June
July
August
September
October
November
December
I960:
271.8
114.6
129.0
284.0
120.2
132.7
308.3
318.0
330.3
339.9
351.7
369.7
126.6
130.0
148.6
133.5
134.5
133.6
138.8
375.2
377.9
140.3
140.4
383.8
385.8
387.0
387.8
387.8
388.2
388.U
140.9
141.2
140.9
140.8
296.2
380. k
124.1
11+0.6
lliO.it
HlO.l
11+0.2
11+0.6
158.1
166.4
174.1
182.8
196.7
198.5
199.4
200.3
200.9
201:3
202.1
202.8
202.9
203.7
204.1
T
36.3
37.8
40.6
43.6
46.8
48.5
50.7
56.4
63.4
64.0
64.3
64.6
64.8
64.9
65.2
65.6
65.5
65.9
65.9
23.0
23.6
25.2
26.7
28.5
3O.O
31.6
33.0
35.1
35.2
35.4
35.5
35.6
35.6
35.7
35.8
35.7
35.8
35.9
L
14.0
¥-
27.2
32.0
37.0
41.7
47.7
55.7
55.2
55.6
55.5
55.6
55.9
54.8
51.7
50.5
49.2
49.8
50.4
51.0
51.5
52.1
50.1
49 . 9
49.8
49.5
49.3
49.1
16.1
19.2
22.8
52.6
53.2
53.7
54.3
48.8
48.5
48.3
48.0
28.2
31.1
31.5
33.1
29.9
30.4
31.3
35.3
34.2
36.4
Ratios
Ratio:
Commercial
Commercial
Total
bank demand
bank
d
e
p
o
s
i
t
s
liquid
and t i m e d e +
currency
t
o
a
s
sets to
posits adj.
t
o
t
a
l
l
i
q
u
i
d
gross
and c u r r e n c y
a
s
s
e
t
s
n
a
tional
(2 + 4)
(9 7 1)
product 6 /
10
150.9
158.0
164.7
170.2
176.8
182.0
185.2
190.0
202.2
38.1
204.3
204.7
42.0
205.7
39.5
43.3
44.0
44.2
44.5
44.4
44.1
205.2
206.1
206.1
206.4
205.9
206.0
206.1
55.5
55.6
55.6
55.2
55.6
55.1
54.5
54.0
54.7
54.5
54.2
53.9
53.6
53.4
53.3
53.2
53.1
53.1
53.1
89.1
83.3
82.2
85.1
85.3
80.7
78.8
79.3
80.0
79.1
78.2
80.7
80.3
January
11+0.0
389.2
204.1
65.7
35.8
54.9
45.1
47.7
205.7
52.9
February
389.1
139.1
204.5
65.7
35.8
47.6
55.4
204.8
45.5
52.6
March p
390.3
205.2
139.5
36.0
65.9
55.9
47.4
45.6
205.4
52.6
77.8
A
66.0
36.1
56.4
47.2
205.4
-4p r i l . p^ . 1 390.4 1 139.4 1 205.7
^ 1
c_wye-r
|
jc. * w
45.3
52.6
i*
p P r e l i m i n a r y . 1 / Data f o r demaid and t i m e d e p o s i t s a d j u s t e d and currency o u t s i d e banks a r e a s of t h e l a s t Wednesday
« o f month.^ 2/ I n c l u d e s s a v i n g s d e p o s i t s i n t h e P o s t a l Savings System. 3 / P r i o r t o 1955 d a t a a r e Board e s t i m a t e s based on
monthly f i g u r e s of i n f l o w of new s a v i n g s and withdrawals of s a v i n g s c a p i t a l compiled by t h e F e d e r a l Home l o a n Bank Board.
4 / I n c l u d e s a l l t y p e s of s a v i n g s bonds h e l d by i n v e s t o r s o t h e r t h a n banks and U. S. Government a g e n c i e s and t r u s t f u n d s .
v 5 / I n c l u d e s a l l m a r k e t a b l e s e c u r i t i e s m a t u r i n g w i t h i n one year ( a d j u s t e d t o i n c l u d e p a r t i a l l y t a x exempt s e c u r i t i e s twelve
months p r i o r t o f i r s t c a l l d a t e ) and, p r i o r t o 1956, nonmarketable Treasury savings n o t e s w i t h m a t u r i t i e s up t o 24 monthsj
tfiigguur e s ln^^ude
o p p a n i e s j bbrokers
^
i n c l u d e hholdings
o l d i n g s of imsurarwe
n s u r a n c e ccoppanies^
r o k e r s and d e a l e r s , S t a t e and
arid l o c a l Governments, noribank gcoo r p o r a t i o n g ^
http://fraser.stlouisfed.org/
c oReserve
r p o r a Bank
t e Vofi St.
s i Louis
o n fund## n o n p r o f i i # # n s t i t u t i o ^ # f o r e i g n S l o u n t s , a n J l n d i v i d u a l l P S / See r e ^ # % e s i d e o f f f t nl e e t .
Federal
6/ Gross n a t i o n a l p r o d u c t e s t i m a t e s a r e a v a i l a b l e q u a r t e r l y and a n n u a l l y o n l y . For 1950 - 1958 r a t i o s a r e f o r l a s t
q u a r t e r of y e a r j f o r 1959 and I 9 6 0 , f o r each q u a r t e r of y e a r . Data f o r t o t a l l i q u i d a s s e t s used i n computing
t h e s e r a t i o s a r e q u a r t e r l y a v e r a g e s f o r f o u r d a t e s : each month of t h e c u r r e n t q u a r t e r and t h e l a s t month of t h e
preceding q u a r t e r .
%
V
L.u.3
- 15 Table 8
I
Ratios t o Total Deposits
s
1/
1 U.S. Govt, securd
' t i e s maturing
1 within 1 year
LOANS
A l l commercial
banks
Date
Total
Member Banks
Central reserve c i t y
New York Chicago
Reserve
citv
Country
All
commercial
banks
191*6:
1917:
1918:
1919:
1950:
$51:
1952:
1953:
1954:
1955:
1956:
$57:
1958:
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
31
31
31
31
31
31
31
31
31
31
31
31
31
23.3
27.7
31.2
31.1
35.8
37.2
39.3
W.5
1*0.3
1*5.8
1*8.8
1*9.7
1*8.1*
23.7
28.2
31.3
30.9
36.1
37.6
39.9
1*1.1
1*0.7
1*6.7
50.1
51.0
1*9.1*
27.7
31.0
35.9
3l*.9
1*2.5
1*6.3
50.6
50.6
1*6.8
56.7
61.7
61.9
57.7
27.3
30.3
30.1*
25.6
32.3
36.2
38.9
39.1
38.3
1*6.3
52.7
55.2
1*9.1*
26.0
31.1
33.1*
32.1*
38.1
39.1*
1*1.1
1*2.2
1*1.9
1*8.5
52.7
53.3
51.3
18.9
23.1*
27.1
28.5
31.5
32.1
33.9
36.1
37.1
1*0.7
1*2.6
1*1*. 1
1*1*. 1*
1959:
J a n . 28
Feb. 25
Mar. 25
Apr. 29
May 27
June 21*
J u l y 29
Aug. 26
Sept.30
Oct. 28
Nov. 25
Dec. 31
1*8.6
1*9.3
50.3
50.5
51.1*
52.5
52.6
53.3
53.1*
53.6
51*.1*
51*.o
1*9.5
50.3
51.3
51.5
52.1*
53.6
53.7
51*. 5
51*. 7
51*. 9
55.8
55.6
57.7
58.2
58.7
59.0
60.0
62.2
62.6
65.5
65.3
66.6
69.5
67.3
1*8.3
1*8.7
51.9
50.5
51.8
51*.1*
51*.o
55.6
57.2
56.6
56.2
58.2
51.5
52.7
53.8
53.8
55.1
56.1
56.5
57.1
57.6
57.5
58.1*
58.2
1*1*. 5
1*5.2
1*6.0
1*6.1*
1*7.0
1*7.9
1*7.7
1*7.9
1*7.9
1*8.0
1*8.1*
1*8.2
7.9
6.8
5.5
5.7
6.7
6.0
6.5
5.9
5.7
5.9
6.1
6.7
Jan.
Feb.
Mar.
Apr.
May
51*. 1*
55.6
56.1*
56.2
56.9
55.9
57.1
58.0
57.7
58.1*
67.1*
69.1*
69.1*
67.6
68.0
58.2
62.7
61*. 5
62.0
63.8
58.7
60.1*
61.1*
61.1
61.8
1*8.8
1*9.1*
50.3
50.6
51.1*
6.6
5.5
1*.6
•
A
•
I960:
#
27
2l*
30
27
25
2/
2/
?/
y
2/
p
11*. 3
11*.0
11*. 2
19.2
15.2
9.8
11.7
16.9
10.0
5.1
7.5
8.1*
8.3
4.9
n»cio
1 / T o t a l l o a n s ( a d j u s t e d t o exclude l o a n s t o b a n k s ) ; U. S. Government s e c u r i t i e s maturing
"% w i t h i n one y e a r e s t i m a t e d on b a s i s of T r e a s u r y s u r v e y of o w n e r s h i p j and t o t a l d e p o s i t s
( a d j u s t e d t o exclude c a s h i t e m s i n p r o c e s s of c o l l e c t i o n ) .
2 / P r i o r t o 1951> d a t a a r e on c a l l b a s i s and b e g i n n i n g i n 1951# t h e y a r e on m a t u r i t y b a s i s .
On a c a l l b a s i s , d a t a f o r 1951 and 1952 a r e 21*5 and 1 9 . 1 r e s p e c t i v e l y .
Itob f oforr FRASER
publication
Digitized
Table 9
D e p o s i t s and Currency
( i n b i l l i o n s of d o l l a r s )
L.4.3
(6)
12}
ilI
ill
Seasonally adjusted
money s u p p l y l /
Year
or
month
Total
(2+3)
End of Dec;
1953
1954
1955
1956
1957
1958
1959:
Mar. 25
Apr. 29
May 27
June 24
J u l y 29
Aug. 26
Sept.30
Oct. 28
Nov. 25
Dec. 31 V
I960:
J a n . 27
Feb. 24
Mar. 30 p
Apr. 27 p
May 25 p
1/
y
Seasonally
adjusted
money
CurDemand
s u p p l y and
rency
deposits
time d e p .
outside
adjusted
at com'l.
banks
banks(l+7)
126.6
130.0
133.5
134.5
133.6
138.8
99.3
103.1
106.1
107.1
105.8
110.7
27.3
26.9
27.4
27.4
27.8
28.1
170.3
176.8
140.3
140.4
140.6
140.9
141.2
140.9
140.8
140.4
140.1
140.2
112.1
112.2
112.4
112.6
112.9
112.6
112.4
112.0
111.8
112.0
140.0
139.1
139.5
139.U
137.6
111.7
110.8
111.1
111.2
109.U
(7)
(8)
(9)
do)
i n !
Xl2l
Time d e p o s i t s
Total
u. s .
Curd
eposits
Demand
Gov't,
rency
and
deposits
T o t a l Commer- Mutual P o s t a l d e p o s i t s o u t s i d e c u r r e n c y
adjusted
(7+8+9) c i a l
savings savings
2/
banks (5+6+10
+11)
185.1
189.7
202.0
102.5
106.6
109.9
111.4
110.3
115.5
70.4
75.3
78.4
82.2
89.1
98.3
43.7
46.8
48.4
50.6
56.1
28.2
28.2
28.2
28.3
28.3
28.3
28.4
28.4
28.3
28.2
204.4
204.9
205.6
206.3
206.5
206.4
206.5
205.9
204.8
206.1
110.3
112.5
110.7
110.7
112.7
111.1
111.4
112.7
113.1
115.4
99.5
99.9
100.5
101.1
100.8
101.2
101.5
101.1
100.3
101.8
64.1
64.5
28.3
28.3
28.4
28.2
28.2
205.2
204.5
205.5
r20^.6
20U.1
114.0
110.5
108.8
111.5
107.8
101.0
101.2
102.2
r102.3
102.6
I8I.9
— 16 —
63.2
65.O
65.4
65.3
65.5
65.7
65.5
64.7
65.9
65.2
65.4
66.0
r 66.2
66.5
24.4
26.3
28.1
30.0
31.7
34.0
34.3
34.3
34.4
34.6
34.5
34.7
34.8
34.6
34.6
34.9
34.9
34.9
35.3
r 35.2
35.2
2.4
2.1
1.9
1.6
1.3
1.1
1.1
1.1
1.1
1.1
1.0
1.0
1.0
1.0
1.0
0.9
0.9
0.9
0.9
0.9
0.9
4.8
4.4
4.5
4.7
4.9
28.1
27.9
28.3
28.3
28.3
28.7
205.7
214.8
221.0
226.4
232.3
247.5
4.4
5.1
5.7
5.2
5.6
6.5
7.1
6.0
5.1
5.8
27.9
27.9
28.1
28.3
28.4
28.5
28.5
28.3
29.1
29.4
242.0
245.4
245.0
245.4
247.6
247.4
248.5
248.2
247.6
252.4
4.4
5.3
5.2
5.3
7.7
27.9
28.0
28.1
27.9
28.1
247.3
244.9
244.2
r 217.0
2U6.2
5.1
l / S e a s o n a l l y a d j u s t e d s e r i e s b e g i n s i n 1946 and i s a v a i l a b l e only f o r l a s t Wednesday of t h e month,
2] At commercial,
s a v i n g s , and F e d e r a l Reserve Banks,
As a r e s u l t of i n c l u s i o n of a n a t i o n a l bank i n Hawaii, demand d e p o s i t s a d j u s t e d
i n c r e a s e d about $100 m i l l i o n and time d e p o s i t s a t commercial banks about $100 m i l l i o n , h j As a r e s u l t of i n c l u s i o n of
a l l banks i n Hawaii, demand d e p o s i t s a d j u s t e d i n c r e a s e d about $200 m i l l i o n and time d e p o s i t s a t commercial banks about
$200 m i l l i o n . On b a l a n c e i n 1959, as a r e s u l t of s t r u c t u r e changes, demand d e p o s i t s a d j u s t e d i n c r e a s e d $400 m i l l i o n ,
time d e p o s i t s a t commercial banks i n c r e a s e d $700 m i l l i o n , and time d e p o s i t s a t mutual s a v i n g s banks d e c l i n e d $300
million,
Demand d e p o s i t s were reduced about $4-00 m i l l i o n as a r e s u l t of a t e c h n i c a l change u n d e r R e g u l a t i o n D
amending t h e d e f i n i t i o n of such d e p o s i t s .
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##
L.4.3
Table 10
Loans and I n v e s t m e n t s a t A l l Commercial Banks
( i n " b i l l i o n s of d o l l a r s )
Loans
and
investments
Date
U. S .
Other
Gov't,
Total
secursecurloans
ities
ities
1953:
1954:
1955:
1956:
1957:
Dec.
Dec.
Dec.
Dec.
Dec.
31
31
31
31
31
145.5
155.7
160.3
164.5
169.3
63.4
1958:
Nov. 26
Dec. 31
1959:
Real SecuBusiness
estate rity
27.2
67.4
70.4
58.6
58.2
14.7
16.3
16.7
16.3
17.9
89.7
93.2
26.9
33.2
38.7
40.5
182.7
184.4
67.7
66.4
20.3
20.6
94.7
97.5
39.3
40.4
28
25
25
29
27
24
183.8
181.9
181.1
183.8
183.9
184.2
67.5
65.5
63.2
63.6
20.4
20.4
20.6
20.9
95.9
39.2
39.2
40.2
40.6
41.4
42.5
June 24
J u l y 29
l / Aug. 26
Sept.30
O c t . 28
Nov. 25
Dec. 31
184.2
185.7
186.1
1/ Jan.
Feb.
Mar.
2 / Apr.
May
June
186.3
186.7
186.1
189.5
69.0
61.6
6 2.6
60.9
60.9
61.1
60.3
59.2
59.6
58.5
58.9
20.8
20.6
20.6
20.6
20.5
20.7
20.6
20.3
20.5
82.0
96.0
97.4
99.3
100.5
102.8
102.8
103.9
105.3
106.3
106.5
107.3
110.0
37.8
37.8
38.2
38.7
38.8
39.4
40.2
16.7
18.4
20.8
22.5
23.1
25.0
25.3
25.6
25.7
25.9
26.3
26.6
26.9
26.9
27.1
27.3
27.5
27.7
27.9
28.1
Farm
- 17 -
Consumer
Nonbank
financial
institutions
All
other
3.6
4.5
5.0
4.3
4.2
5.0
5.2
4.5
4.2
4.1
15.8
5.1
5.6
6.5
6.9
7.2
3.9
4.7
4.9
5.0
15.7
15.9
8.2
4.2
4.0
3.9
4.3
4.1
4.1
5.0
5.0
4.8
4.9
4.9
5.0
16.0
16.1
16.3
16.7
4.1
4.2
4.2
4.1
4.1
4.1
4.9
5.0
5.1
5.1
5.1
5.0
4.9
5.0
17.4
17.6
17.9
18.1
18.3
18.3
18.5
10.9
10.9
13.2
14.6
7.9
8.0
8.1
8.2
8.4
8.6
17.0
17.4
8.9
5.9
6.2
6.6
6.5
6.0
6.2
7.1
7.7
7.8
8.0
8.3
8.5
8.5
8.5
J a n . 27
185.6
58.0 20.3 107.4
28.1 r4.0 4 . 9
39.4
18.6 r 6 . 3
8.4
Feb. 24
184.3
20.1 108.1
56.2
28.2 r 3 . 9
39.8
18.6 r 6 . 4
5.0
8.5
Mar. 30 p
183.4
20.1 109.1
54.2
40.8
r 2 8 . 2 r3«5
18.6 r 6 . 6
5.1
r 8.5
Apr. 27 p
186.3
20.0 1 1 0 . 5
r28.
U0.8
r 6.8
rl9.0
r3.9
r 8.7
M
186.1
ay 25 p
19.8 1 1 1 . 1
la. 1
28
8.8
6.7
19.3 I
3.7
r R e v i s e d . 1 / T o t a l c r e d i t i n c r e a s e d over $400 mi!.!.ion i n J a n u a r y as a r e s u l t of bank s t r u c t u r e c h a n g e s .
Total c r e d i t increased
2/ T o t a l c r e d i t i n c r e a s e d about $200 m i l l i o n a s a r e s u l t of bank s t r u c t u r e changes.
about $300 m i l l i o n as a r e s u l t of bank s t r u c t u r e changes. S t r u c t u r e changes i n 1959, on b a l a n c e through
August, added a l m o s t $1 b i l l i o n t o t o t a l c r e d i t ; $600 m i l l i o n i n l o a n s ; $300 m i l l i o n i n U. S . Government
s e c u r i t i e s ; and $100 m i l l i o n i n o t h e r s e c u r i t i e s . Real e s t a t e l o a n s i n c r e a s e d about $300 m i l l i o n ; b u s i n e s s
l o a n s $100 m i l l i o n ; consumer l o a n s , $100 m i l l i o n ; and o t h e r l o a n s , $100 m i l l i o n . Notes Data exclude i n t e r b a n k
l o a n s . T o t a l l o a n s a r e a f t e r and t y p e s of l o a n s b e f o r e d e d u c t i o n s f o r v a l u a t i o n r e s e r v e s . Consumer and
" o t h e r l o a n s " a r e p a r t l y e s t i m a t e d f o r a l l d a t e s . Other d a t a a r e p a r t l y e s t i m a t e d on a l l b u t June and December
c
a l l d a t e s . Beginning June 24, 1959, " b u s i n e s s l o a n s " and " a l l o t h e r l o a n s " have been r e v i s e d t o exclude
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o a qofg |St.
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nonban]0Financial j # B t i t u t i o n s #
##
•
•
•
i
Federal Reservel Bank
I960:
3
11
1.4.3
— 18 •
L i q u i d A s s e t s Held by t h e P u b l i c — S e a s o n a l l y Adjusted S e r i e s
1946(amounts i n b i l l i o n s of d o l l a r s ; r a t i o s e x p r e s s e d as p e r c e n t a g e s )
Annual
averages*
Demand
Personal-type savings
U. S. Govt,
deposits Total
Total
Savings u . s . s e c u r i t i e s
a d j u s t e d p e r s o n a l - Time d e p o s i t s
liquid
type
adjusted l /
and
Govt,
maturing
and
assets
c u r r e n c y s a v i n g s Commer- Mutual
s a v i n g s w i t h i n one
loan
(2+3+8)
savings
o u t s i d e (4+5+6+7) c i a l
s h a r e s bonds
year ji/
banks l /
banks banks 2 /
4/
3/
6
8
1
4
2
3
5
7
1946
1947
1948
1949
234.3
241.7
248.7
256.0
106.0
109.1
109.8
108.7
107.5
114.4
119.4
124.0
32.4
34.6
35.6
36.0
19.4
20.7
21.5
22.1
1950
1951
1952
1953
1954
265.6
276.8
290.6
303.2
312.4
111.3
116.8
122.8
125.8
127.7
127.8
130.2
136.5
144.6
153.6 .
36.3
36.8
39.1
42.0
45.4
1955
1956
1957
1958
1959
324.2
334.8
347.2
358.6
381.3
132.1
133.6
134.4
135.7
140.3
162.4
170.3
178.4
190.3
200.7
47.6
49.4
53.7
60.6
For f o o t n o t e s s e e end of t a b l e *
64.8
8.0
Ratio:
Ratio:
Commercial
Commercial
Total
bank demand
bank d e p o s i t s
liquid
and t i m e d e + currency t o a s s e t s to
posits adj.
gross
total liquid
and c u r r e n c y
t
a
s
s
e
s
n
a
tional
(2. + 4)
(9 * 1)
p r o d u c t 6/
10
11
9
10.3
11.7
47.7
49.9
52.0
54.2
20.8
18.2
19.5
23.3
138.4
143.7
145.4
144.7
59.1
59.5
58.5
56.5
111.2
103.2
95.9
22.8
23.2
24.4
26.0
27.6
13.2
14.9
17.6
21.0
25.0
55.5
55.3
55.4
55.6
55.6
26.5
29.8
31.3
32.8
31.1
147.6
153.6
161.9
167.8
173.1
55.6
55.5
55.7
55*3
55.4
93.3
84.1
83. T
83.O
86.0
29.2
30.8
32.2
34.0
35.5
29.6
34.5
39.3
44.7
51.0
56.0
55.6
53.2
51.0
49.4
29.7
30.9
34.4
32.6
40.3
179.7
183.0
188.1
196.3
205.0
55.4
54.7
54.2
54.7
53.8
81.6
79.9
78.5
81.2
79.5
9.2
99.2
LA.3
- 19 L i q u i d A s s e t s Held by t h e P u b l i c — S e a s o n a l l y A d j u s t e d S e r i e s
1946 —
(amounts i n b i l l i o n s of d o l l a r s j r a t i o s expressed a s p e r c e n t a g e s )
End of
month
Demand
Personal-type savings
deposits Total
U. S . Govt
Total
a d j u s t e d p e r s o n a l - Time d e p o s i t s
U.
S
.
Savings
securities
liquid
type
and
adjusted l /
Govt,
and
maturing
assets
c u r r e n c y s a v i n g s Commer- Mutual
l
o
a
n
s
a
v
i
n
g
s
w
i t h i n one
(2+3+8)
o u t s i d e (4+5+6+7) c i a l
savings
s h a r e s bonds
year Jj/
banks l /
banks banks 2 /
V
V
1
2
3
4
5
6
7
8
Ratio:
Ratios
1 Commercial
Tbtal
Commercial
bank demand
liquid
bank d e p o s i t s
and t i m e d e + currency t o assets t o
posits a d j .
total liquid
gross
and c u r r e n c y
a
s
s
e
t
s
n
a
tional
(2 + 4)
(9 + 1)
n r o d u c t 6J
9
10
191*6
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
227.5
229.1*
230.2
232.9
23U.lt
23U.5
235.5
235.9
236.9
237.2
237.6
238.1
101.9
103.1
102.8
105.0
lu6.1
1U6.8
107.3
107.3
107.7
107.9
107.9
107.6
103.6
10l*.l*
10l*.9
105.7
106.I*
iu7.o
108.0
108.7
109.2
109.7
110.5
111.1
30.6
31.1
31.U
31.6
32.0
32.3
32.7
33.0
33.2
33.5
33.7
33.8
18.5
18.7
18.7
19.1
19.2
19.3
19.5
19.6
19.7
19.7
20.1
20.2
7.H
7.5
7.6
7.7
7.8
7.9
8.1
8.2
8.2
8.3
8.1*
8.5
1*7.1
1*7.1
1*7.2
1*7.3
1*7.1*
1*7.5
1*7.7
1*7.9
1*8.1
18.2
1*8.3
1*8.6
22.0
21.9
22.5
22.2
21.9
20.7
20.2
19.9
20.0
19.6
19.2
19.1*
132.5
131*. 2
131*. 2
136.6
138.1
139.1
11*0.0
11*0.3
11*0.9
11*1.1*
11*1.6
11*1.1*
58.2
58.5
58.3
58.7
58.9
59.3
59.1*
59.5
59:5
59.6
59.6
59.1*
191*7
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
238.2
238.8
239.5
. 2l*0.3
210.7
21*2.3
213.5
213.5
2l*3.U
2U5.0
2U5.6
2UU.1
107.5
107.5
108.3
108.8
108.9
109.3
109.6
109.6
110.2
110.2
110.3
110.5
111.9
112.6
113.1
113.6
11U.0
111*. 5
115.0
115.3
115.9
116.6
117.0
117.2
3U.0
3k.1
31*. 3
3U.U
3U.5
3l*.7
3U.8
3U.8
35.0
35.2
35.2
35.3
20.3
8.7
8.8
8.9
9.0
9.1
9.1
9.2
9.3
9.1*
9.6
9.6
9.8
1*8.9
1*9.2
1*9.1*
1*9.6
1*9.7
50.0
50.2
50.3
50.5
50.7
51.0
50.9
18.8
18.7
18.1
17.9
17.8
18.5
18.9
18.6
17.3
18.2
18.3
16.1*
11*1.5
11*1.6
11*2.6
11*3.2
11*3.1*
il*l*.o
litU.l*
lliU.l*
11*5.2
11*5.1*
11*5.5
11*5.8
59.1*
59.3
59.5
59.6
59.6
59.1*
59.3
59.3
59.7
59.3
59.2
59.7
For footnotes
s e e end of t a b l e .
20.5
20.5
20.6
20.7
20.7
20.8
20.9
21.0
21.1
21.2
21.2
11
112.9
"
108.6
107.1*
105.6
10l*.7
103.2
99.8
L.4.3
-
2 0 -
L i q u i d A s s e t s Held by t h e P u b l i c — S e a s o n a l l y Adjusted S e r i e s
19^6 —
(amounts i n b i l l i o n s of d o l l a r s ; r a t i o s e x p r e s s e d a s p e r c e n t a g e s )
End of
month
19U8
Jan.
Feb.
Mar.
Apr.
MayJune
July
Aug.
Sept.
Oct.
Nov.
Deo.
19k9
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
HOT.
Dec.
Demand
Personal-type savings
deposits Total
U. S . Govt
Total
a d j u s t e d p e r s o n a l - Time d e p o s i t s
U.
S
.
Savings
securities
liquid
type
and
adjusted l /
and
Govt,
maturing
assets
c u r r e n c y s a v i n g s Commer- Mutual
l
o
a
n
s
a
v
i
n
g
s
w
i t h i n one
(2+3+8)
o u t s i d e (4+5+6+7) c i a l
savings
s h a r e s bonds
year jj/
bawk-a banks 2 /
banks l /
V
_iZ_
8
_5_
21*7.2
2lt8;0
21*8.5
21*8.0
218.7
2l*8.1*
21*8.5
21*9.0
21*9.7
250.8
250:9
252.0
252.%
252.5
253.5
251.9
256.0
255.9
257.2
258.2
258.6
258.5
259.3
259.5
For f o o t n o t e s
110.8
110.6
117.5
117.9
109.5
109.5
109.6
109.U
109.6
109.li
109.9
109.3
109.0
118
110.5
109.0
108.8
108.8
108.7
108.8
108.5
108.8
108.7
108.3
108.3
108.5
108. I*
118.2
119
119
119
120
120.6
120.9
121.3
121.8
122.3
122.6
123.1
123.5
12U.0
12U.2
12U.6
121.7
125.2
125.lt
125.8
126.0
s e e end of t a b l e .
35.3
35.5
35.5
35.5
35.5
35.6
35.6
35.6
35.7
35.7
35.7
35.8
35.9
35.9
36.0
36.1
36.1
36.1
36.1
36.0
36.1
36.1
36.1
36.1
21.,3
21.>3
21,,3
21..1*
21«,5
21.,5
21.5
21.6
21.6
21.6
9.8
9.9
10.0
10.1
10.2
10.3
10.1*
10.5
10.6
10.7
21.7
21.7
10.8
21.8
11.1
11.2
21.9
21.9
22.0
22.1
22.1
22.2
22.2
22.3
22.3
22.5
22.5
11.0
•11.U
11.5
11.6
11.7
11.9
12.0
12.1
12.2
12.3
12.ii-
51.1
51.2
51.U
51.5
51.8
51.7
52.1*
52.6
52.7
52.9
53.1
53.3
53.5
53.6
53.8
53.9
5U.2
51*. 3
5U.U
51*.5
5k.7
5k.8
5b.9
55.0
18.9
19.5
19=8
20.0
20.2
19.7
19.2
19.1
19.7
20.0
20.3
21.2
21.1
21.1
21.6
22.7
23.2
23.2
23.8
2tw8
25.1
2l*.8
25.0
25.1
Ratio*
Batib:
Commercial
Tbtal
Commercial
bank demand
liquid
bank d e p o s i t s
and time d e + currency t o a s s e t s t o
posits adj.
total liquid
gross'
and c u r r e n c y
a
s
s
e
t
s
n
a
tional
(2 + 4 )
( 9 • 1)
J2E8SaSli/
10
11*6.1
11*6.1
11*6.0
H5.0
11*5.0
11*5.2
il*5.o
11*5.2
il*5.i
il*5.6
il*5.o
ll*l*.8
11*1*. 9
11*1*. 7
ll*l*.8
11*1*. 8
11*1*. 9
ll*l*,6
11*1*.9
1UU.7
H*l*.l*
ll*l*.l*
11*1*.6
11*1*.5
59.1
58:9
58.8
58.5
58.3
58.5
58.1*
58.3
58.1
58.1
57.8
57.5
57.U
57.3
57.1
56.8
56.6
56.5
56.3
56.0
55.8
55.9
55.8
55.7
11
99.0
96.1*
9U.3
9l*.l*
97.2
99.5
99.5
100.8
L.4.?
- 2 1
-
L i q u i d A s s e t s Held by t h e P u b l i c — S e a s o n a l l y A d j u s t e d S e r i e s
1946 (amounts i n b i l l i o n s of d o l l a r s j r a t i o s e x p r e s s e d a s p e r c e n t a g e s )
End of
month
Demand
Personal-type savings
deposits Total
U. S . Govt
Total
a d j u s t e d p e r s o n a l - Time d e p o s i t s
U. S . s e c u r i t i e s
Savings
liquid
and
type
adjusted l /
Govt,
and
maturing
assets
c u r r e n c y s a v i n g s Commer- Mutual
l
o
a
n
s
a
v
i
n
g
s
w
i t h i n one
(2+3+8)
o u t s i d e (4+5+6+7) c i a l
savings
s h a r e s bonds
year $ /
bawtra banks 2 /
banks l /
—hi— V
1950
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1951
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
260.7
261.2
262.2
262.6
263.7
265.6
265.9
267.ii
269.0
270.7
272.8
271.8
270.8
272.1
272.8
273.9
275.1
276.2
277.7
278.6
278.7
280.8
282.9
28U.O
For f o o t n o t e s
109.1
109.2
109.It
110.3
111.0
111.3
111.8
112.6
112.8
113.1
113.6
lilt. 6
11U.2
115.2
115.1
115.6
115.6
115.9
116.8
117.L
117.8
119.1
120. U
120.2
126.5
126.9
127.6
128.0
128.3
128.3
128.1
127.9
128.1
128.5
128.7
22.6
129.0
36.2
36.3
36.5 y
36.6
36.6
36.5
36.3
36.1
36.2
36.2
36.2
36.3
23.0
128.7
128.5
36.2
36.2
22.9
22.9
128.6
128.9
129.1
129.6
130.0
130.7
-131.0
131.7
132.2
132.7
s e e end of t a b l e .
36.2V
36.3
36.3
36.6 .
36.7
37.0
37.2 '
37.5
37.6
37.8
22.7
22.822.9
22.9
22.9
22.9
22.8
22.9'
22.9
22.9
22.8
23.0
23.0
23.1-
23.2
23.3
23.3
23.U
23.5
23.6
12.6
12.7
12.9-
13.0
13.2 .
13.313.3
I3.lt
13.513.7
13.8
1U.0.
1U.0
llt.l
1U.3llt.lt
llt.6
1U.8.
15.0
15.2
15.U
15.6
15.9
16.1
55.1
55.2
55.L
55.5
55.6
55.6
55.6
55.6
55.5
55.7
55.8
55.7
55.6
55.3
55.3
55.2
55.2
55.1
55.1
55.2
55.1
55.2
55.2
55.2
8
25.1
25.1
25.2
2lu3
2li.li
26.0
26.0
26.9
28.1
29.1
30.5
28.2
27.9
28. It
29.1
29.lt
30.lt
30.7
30.9
30.5
29.9
30.0
30.3
31.1
Batid:
Ratios
Commercial
Tbtal
Commercial
bank demand
liquid
bank d e p o s i t s
and time d e + currency t o a s s e t s t o
posits adj.
gross
total liquid
md c u r r e n c y
national
assets
(2 + 4 )
(9 + 1)
SZSSBSli/
10
11
1U5.3
H5.5
H5.9
U46.9
lli7.6
1U7.8
1U8.1
H18.7
Ht9.0
lli9.3
119.8
150.9
I50.lt
I5l.lt
151.3
151.9
151.9
152.5153.5
I51i.lt
155.0
156.6
158.0
158.0
55.7
55.7
55.6
55.9
56.0
55.6
55.7
55.6
55.lt
55.2
51i.9
55.5
55.5
55.6
55.5
55.5
55.2
55.2
55.3
55.lt
55.6
55.8
55.9
55.6
98.2
96.0
91.1
89.1
85.6
8I1.I
83.2
83.3
L.4.?
- 2 2
-
L i q u i d A s s e t s Held by t h e P u b l i c — S e a s o n a l l y Adjusted S e r i e s
19^6 —
(amountslin. b i l l i o n s of d o l l a r s ; r a t i o s e x p r e s s e d a s p e r c e n t a g e s )
Personal-type savings
U. S . Govt
Time d e p o s i t s
Savings U. S . s e c u r i t i e s
adjusted l /
and
Govt,
maturing
Mutual
loan
s a v i n g s w i t h i n one
savings
s h a r e s bonds
year
banks 2 /
4
/
V
4
5
6
7
8
hi
O
End of
month
Demand
deposits Total
Total
adjusted personalliquid
and
type
assets
currency savings
(2+3+8)
o u t s i d e (4+5+6+7)
banks l /
1
2
3
Ratio:
Ratios
Commercial
Tbtal
Commercial
bank demand
liquid
bank d e p o s i t s
and t i m e d e + currency t o a s s e t s t o
posits a d j .
grosstotal liquid
and c u r r e n c y
a
s
s
e
t
s
n
a
tional
(2 + 4 )
(9 * l )
n r o d u c t 6>
9
10
11
1952
Jan.
Feb.
Mar.
Apr.
MayJune
July
Aug.
Sept.
Oct.
Nov.
Dec.
285.5
287.2
286.8
288.2
290.4
291.1
291.5
292.7
293.6
293.6
295.7
296.2
121.1
121.3
121.9
122.0
122.9
123.3
123.0
123.5
123.9
124.1
125.0
124.1
133.5
133.9
134.4
134.9
135.6
136.4
136.8
137.5
138.3
138.9
139.9
140.6
38.2
38.3
38.538.6
38.9
39.139.2
39.5
39.8.
40.0
40.4
40.6
23.7
23.8
23.9.
24.1
24.2
24.324.5
24.6
24.8.
24.8
25.1
25.2 •
I6.3
16.6
16.8
17.0
17.2
17.517.8
18.0
18.318.6
I8.9
19.2-
55.3
55.2
55.2
55.2
55.3
55.5
55.3
55.4
55.4
55.5
55.5
55.6
30.9
32.0
30.5
31.3
31.9
31.4
31.7
31.7
31.4
30.6
30.8
31.5
159.3
159.6
160.4160.6
161.8
162.4,
162.2
I63.O
163.7.
164.1
165.4
164.7.
55.8
55.6
55.9
55.7
55.7
55.8
55.6
55.7
55.8
55.9
55.9
55.6
1953
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
' Nov.
Dec.
298.2
299.7
301.6
303.0
301.5
302.7
304.4
304.6
305.7
307.5
307.1
308.3
124.9
125.2
125.7 .
126.0
126.1
125.8.
125.7
126.2
126.1
126.9
126.3
126.6
141.4
142.2
142.6
143.5
143.7
144.4
144.9
145.4
146.6
147.3
147.9
148.6
40.9
41.1
41.2
41.5
41.7
42.042.1 /
42.4
42.8.
43.1
25.3
25.4
25.5'
25.8
25.8
25.926.0
26.2
26.4
26.6
26.6
26.7
19.5
19.8
20.120.3
20.6
21.0.
21.3
21.6
21.922.2
22.5
22.8
55.7
55.9
55.8
55.9
55.6
55.5
55.5
55.2
55-5
55.4
55.5
55-5
31.9
32.3
33.3
33.5
31.7
32.5
33.8
33.0
33.0
33.3
32.9
33.1
165.8
I66.3
166.9.
167.5
167.8
167.8,
I67.8
168.6
168.9'
170.0
I69.6
170.2
55.6
55.5
55.3
55.3
55.7
55.4
55.1
55.4
55.3
55.3
55.2
55.2
For f o o t n o t e s
s e e end of t a b l e .
43.3
43.6
83.8
84.7
84.2
82.2
82.0
8I.9
82.9
85.1
.4.3
- 23 L i q u i d A s s e t s Held by t h e P u b l i c — S e a s o n a l l y A d j u s t e d S e r i e s
1946 (amounts i n b i l l i o n s of d o l l a r s ? r a t i o s e x p r e s s e d a s p e r c e n t a g e s )
End of
month
Demand
Personal-type savings
deposits Total
U. S . Govt
Total
a d j u s t e d p e r s o n a l - Time d e p o s i t s
U. S . s e c u r i t i e s
Savings
liquid
type
and
adjusted l /
Govt,
and
maturing
assets
c u r r e n c y s a v i n g s Commer- Mutual
l
o
a
n
s
a
v
i
n
g
s
w
i t h i n one
(2+3+8)
o u t s i d e (4+5+6+7) c i a l
savings
s h a r e s bonds
year
banks l /
banks banks 2 /
V
4/
1
2
4
3
5
6
7
8
Ratios
Ratios
Commercial
Tbtal
Commercial
bank demand
liquid
bank d e p o s i t s
and time d e + currency t o a s s e t s t o
posits a d j .
total liquid
gross
and c u r r e n c y
a
s
s
e
t
s
n
a
tional
(2 + 4 )
(9 + 1)
n r o d u c t 6>
9
10
11
1954
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
308.9
309.0
310.6
310.3
312.5
311.7
312.8
311.1
314.8
315.6
316.7
318.0
126.5
126.5
126.7
126.3
127.1
126.9127.9
127.7
129.0 .
129.2
129.6
130.0
149.4
150.1
151.0
152.1
153.1
153.5
154.5
155.3
156.0
157.0
157.7
158.1
43.9
44.1
44.5 j
44.7
45.0
45.4,45.8
46.1
46.3 .
46.6
46.8
46.8'
26.9
27.0
27.1
27.3
27.4
27.5.
27.7
27.8
28.0
28.2
28.3
28.5 •
23.1
23.5
23.9.
24.525.1
24.925.3
25.7
26.O.
26.4
26.8
27.2,
55.5
55-5
55.-5
55.6
55.6
55.7
55.7
55.7
55.7
55-8
55.8
55.6
33.0
32.4
32.9
31.9
32.3
31.3
30.4
28.1
29.8
29.4
29.4
29.9
170.4
170.6
171.2.
171.0172.1
172.3 .
173.7
173.8 .
175-3175.8
176.4
176.8
55.2
55.2
55.1
55.1
55.1
55-3
55.5
55.9
55.7
55.7
55.7
55.6
1955
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Hov.
Dec.
320.4
318.6
320.6
322.3
322.2
322.4
323.8
327.0
328.6
329.5
330.6
330.3
131.1
131.3
131.5
131.7
132.1
132.1
132.0
132.6
133.2 "
132.8
133.1
133.5
159.1
159.8
160.5
161.0
161.6
162.5
162.8
163.8
164.4
165.0
165.6
166.4
47.0
47.1
47.2.
47.2
47.4
47.647.4
47.8
48.0;
48.1
48.2
48.5
28.6
28.7
28.9 •
29.0
29.1
29.2 .
29.4
29.5
29.629.8
29.9
30.0
27.6
28.0
28.4 •
28.7
29.1
29.629.9
30.4
30.8 .
31.2
31.6
32.0
55-9
56.0
56.0
56.1
56.0
56.1
56.1
56.1
56.0
55.9
55.9
55.9
30.2
27.5
28.6
29.6
28.5
27.8
29.0
30.6
31.0
31.7
31.9
30.4
178.1
178.4
178.7 ..
178.9
179.5
179-7179-4
180.4
181.2
180.9
181.3
182.0
55.6
56.0
55.7
55.5
55.7
55.7
55.4
55.2
55.1
54.9
54.8
55.1
For f o o t n o t e s
s e e end of t a b l e .
85.9
86.7
86.4
85.3
83.1
81.9
80.7
80.7
LA.3
- 24 L i q u i d A s s e t s Held by t h e P u b l i c — S e a s o n a l l y Adjusted S e r i e s
1946 —
(amounts i n b i l l i o n s of d o l l a r s ; r a t i o s expressed as p e r c e n t a g e s )
End of
month
1956
Jan.
Feb.
Mar.
Apr,
May
June
July
AugSept.
Oct.
Nov.
Dec,
1957
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Septc
Oct.
Nov.
Dec.
Demand
Personal-type savings
deposits Total
W. S. Govt
Total
a d j u s t e d p e r s o n a l - Time d e p o s i t s
U.
S.
Savings
securities
liquid
and
type
a
d
j
u
s
t
e
d
l
/
and
Govt,
maturing
assets
c
u
r
r
e
n
c
y
s
a
v
i
n
g
s
CommerMutual
l
o
a
n
savings
w
i t h i n one
(2+3+8)
o u t s i d e (4+5+6+7) c i a l
savings
s h a r e s bonds
year $ /
banks l /
banks banks 2 /
3/
4/
1
2
3
4
5
6
7
8
Ratios
Ratio:
Commercial
Commercial
Tbtal
bank demand
liquid
bank d e p o s i t s
and time d e + currency t o a s s e t s t o
posits a d j .
gross
total liquid
and c u r r e n c y
assets
national
(2 + 4 )
(9 • l )
•Droduct 6,
9
10
11
531.1
332.0
332.4
333.0
335.3
335-3
332.0
336.6
337.7
338.0
339.4
339.9
153.2
152.9
155.5
155.6
153.5
134.2
135.2
155.4
153.9
155.6
154.5
154.5.
I67.O
167.5
168.2
168,8
170.0
170.5
170.9
171.5
172.4
172.9
175.6
174.1
48.5
48.6
48.8 v
48.8
48.9
49.4 •
49.4
49.7
50.0'
50.1
50.4
50.7-
50.2
30.2
50.5.
50.5
50.7
50.8 ,
50.9
51.0
51.2
51.4
51.5
51.6-
32.4
52.9
55-5.
55.7
54.0
54.5"
55-0
55.4
55.8
56.2
56.6
57.0-
55.9
55.8
55,8
55.8
56.4
55.6
55.6
55.4
55.4
55.2
55.1
54.8
30.9
51.6
50.7
50.6
52.0
50.8
27.9
51.7
51.4
51.5
51.5
51.5
181.7
I8I.5
182.3
182.4
182.2
185.6
182.6
183.1
185.9
185.7
184.9
185.2
.
54.9
54.7
54.8
54.8
54.5
54.8
55.0
54.4
54.5
54.5
54.5
, 54.5
•341.7
154.8
134.7
154.5.
154.6
134.2
155.1,
155.0
154.5
154.5.
135.8
155.6
155.6
175.1
175.8
176.4
177.0
178.0
178.4
179.0
179.5
180.4
181.4
181.9
182.8
51.5
51.9
52.5..
52.8
55.5
55.554.1
54.4
54.955.5
55.9
56.4
51.7
51.8
51.8.
51.9
52.1
52.3.
52.4
52.4
32.6.
52.8
52.8
55.0
57.5
57.7
38.1'
58.5
58.9
59.5 •
59.6
40.0
40.5 40.9
41.5
41.7
54.6
54.4
54.0
55.8
55.5
55.5
52.9
52.7
52.4
52.2
51.9
51.7
31.8
32.4
35.1
35.6
32.5
37.2
37.9
56.2
56.2
35.2
35.0
35.5
186.5
186.6
187.0 .
187.4
187.7
188.6 •
189.1
188.7
189.2"
189.5
189.5
190.0
54.5
54.4
54.4
54.3
54.5
55.8
55.7
55.9
55.9
54.0
54.1
54.0
542.9
344.0
345.2
544.7
550.7
551.9
550.0
550.9
550.4
550.5
351.7
For f o o t n o t e s
s e e end of t a b l e .
,
.
•
80.7
80.5
79.7
78.8
78.2
78.5
78.4
79.5
Liquid A s s e t s Held by t h e P u b l i c — Seasonally Adjusted S e r i e s
19^6 (amounts i n b i l l i o n s of d o l l a r s ; r a t i o s expressed as p e r c e n t a g e s )
End of
month
1958
Jan*
Feb*
Mar*
Apr®
May
June
July
Aug*
Sept*
Oct*
Nov*
Dec,
1959
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
HOT.
Dec.
Demand
Personal-type savings
U. S. Govt
deposits Total
Total
Savings u . s . s e c u r i t i e s
a d j u s t e d p e r s o n a l - Time d<i p o s i t s
liquid
type
maturing
Govt,
ad.iusibed 1 /
and
and
assets
savings w i t h i n one
loan
c u r r e n c y s a v i n g s Commer- Mutual
(2+3+8)
year jj/
savings
s h a r e s bonds
o u t s i d e (4+5+6+7) c i a l
banks banks 2 /
V
4/
banks l /
6
8
4
7
2
3
5
1
Ratio:
Ratios
Commercial
Tbtal
Commercial
bank demand
liquid
bank d e p o s i t s
and time d e + currency t o a s s e t s t o
posits a d j .
gross
total liquid
and currency
national
assets
(2 + 4 )
(9 • 1)
product 6>
11
10
9
352.1
353.1
351.7
355.9
356.7
356.2
358.5
360.1
361.6
364.6
367.2
369.7
133.1
133.6
13U.0/.
134.8
135.3
135.3
136.1
136.7
136.9 '
137.9
130.6
138.8
18U.0
185.4
186.7
188.1
189.3
190.6
192.1
193. l
193.9
195.0
195.6
196.7
57.0
57.9
58.7,
59.7 ,
60.3
61.161.9
62.4
62.6 .
62.9
63.1
63.4 .
33.2
33.4
33.5:
33.7
33.9
33.9 :
34.2
34.3
34.534.7
34.8
35.1=
42.2
42.7
43.2 43.6
44.1
44.6 45.1
45.6
46.1;
46.7
47.2
47.7
51.6
51.4
51.3
51.1
51.0
5l.o
50.9
50.8
50.7
5o.7
50.5
50.5
35.0
34.4
34.0
33.0
32.1
30.3
30.3
30.3
30.8
31.7
33.0
34.2
190.1
191.5
192.7.
194.5
195.6
196.4198 .u
199.1
199.5 •
200.8
201.7
202.2
54.o
54.2
54.3
54.7
54.8
55.1
55.2
55.3
55.2
55.1
54.9
54.7
370. y
372. ti
375.2
377.9
380.ii
383.8
385.8
387.0
387.8
387.8
380.2
388. 4
139.5
139.6
lUo.3
1U0-.U
±40.6
140.9 .
111.2
lUo.y
lUO.ti J
197.3
198.2
198.5
199.lt
200.3
200.9
201.3
202.1
202.8
202. 9
203.7
204.1
63.8
64.u
64.0 64.3
64.6
64.8.
64.9
65.2
65.6.
65.5
65.9
65.9
34.9
35.1
35.235.4
35.5
35.635.6
35.7
35.8 •
35.7
35.8
35.9
48.3
48.8
49.2 .
49.8
50.4
51.051.5
52.1
52.653.2
53.7
54.3
50.3
50.3
5o.l
49.9
49.8
49.5
49.3
49.1
48.0
48.5
40.3
48.0
34.1
35.0
36.4
38.1
39.5
42.0
43.3
44.o
44.2
44.5
44.4
44.1
203.3
203.6
204.3 ,
204.7
205.2
205.7206.1
206.1
206.4,
205.9
206.0
206.1
54.8
54.6
54.5
54.2
53.9
53.6
53.4
53.3
53.2
53.1
53.1
53.1
For f o o t n o t e s
JL40.li
lUu.i
JLi|0.2
s e e end of t a b l e .
81.9
81.9
80.9
80.0
79.1
78.2
80.7
80.3
L.U.3
-26
-
L i q u i d A s s e t s Held by t h e P u b l i c — S e a s o n a l l y A d j u s t e d S e r i e s
191*6 (amounts i n b i l l i o n s of d o l l a r s ; r a t i o s expressed a s p e r c e n t a g e s )
End of
month
I960
Jan.
Feb.
Mar.^/
Apr .£/
May.
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Demand
Personal-type savings
U. S . Govt
d
eposits Total
Total
Savings u. s. s e c u r i t i e s
a
d
j
u
s
t
e
d
Time
d
e
p
o
s
i
t
s
p
e
r
s
o
n
a
l
liquid
and
Govt,
maturing
and
type
a d j u s t e d 1/
assets
Mutual
w
i t h i n one
s
a
v
i
n
g
s
l
o
a
n
Commer
s
a
v
i
n
g
s
c
u
r
r
e
n
c
y
12+3+8)
s a v i n g s s h a r e s bonds
o u t s i d e (U+5+6+7) c i a l
year 5/
banks banks 2 /
banks 1 /
3/
V
T
389.2
389.1
390.3
590.4
p
*
lUo.O
139.1
139.5
139.4
204.1
2ob.$
205.2
205.7
65.7
65.7
65.9
66.0
35.8
35.8
36.0
36.1
5U.9
55.lt
55.9
56.4
U7.7
47.6
U7.lt
47.2
45.1
U5.5
45.6
45-3
Ratio:
Ratios
Commercial
Total
Commercial
bank demand
liquid
bank
d
e
p
o
s
i
t
s
and t i m e d e +
c
u
r
r
e
n
c
y
t
o
a
s
sets to
posits adj.
t
o
t
a
l
l
i
q
u
i
d
g
ross
and c u r r e n c y
n
a
t
i
onal
a
s
s
e
t
s
(2 + U)
(9 + 1 )
product 6 /
10
205-7
204.8
205.it
205.4
52.9
52.6
52.6
52.6
77.8
Preliminary.
Annual l i q u i d a s s e t f i g u r e s a r e a v e r a g e s c a l c u l a t e d f o r t h i r t e e n d a t e s (each month of t h e c u r r e n t y e a r and December
of t h e p r e c e d i n g y e a r ; e x c e p t 1946, which i s based on d a t a f o r t h e twelve months of t h a t y e a r o n l y .
Data f o r demand and t i m e d e p o s i t s a d j u s t e d and c u r r e n c y o u t s i d e banks a r e a s of t h e l a s t Wednesday of month.
I n c l u d e s s a v i n g s d e p o s i t s i n t h e P o s t a l Savings System.
P r i o r t o 1955 d a t a a r e Board e s t i m a t e s b a s e d on monthly f i g u r e s of i n f l o w of new s a v i n g s and w i t h d r a w a l s of s a v i n g s
c a p i t a l compiled by t h e F e d e r a l Home Loan Bank Board.
I n c l u d e s a l l t y p e s of s a v i n g s bonds h e l d by i n v e s t o r s o t h e r t h a n banks and U. S . Government a g e n c i e s and t r u s t f u n d s .
5 / I n c l u d e s a l l m a r k e t a b l e s e c u r i t i e s m a t u r i n g w i t h i n one y e a r ( a d j u s t e d t o i n c l u d e p a r t i a l l y t a x exempt s e c u r i t i e s
%
t w e l v e months p r i o r t o f i r s t c a l l d a t e ; a n d , p r i o r t o 1956, nonmarketable T r e a s u r y s a v i n g s n o t e s w i t h m a t u r i t i e s up
t o 24 m o n t h s j f i g u r e s i n c l u d e h o l d i n g s of i n s u r a n c e companies, b r o k e r s and d e a l e r s , S t a t e and l o c a l Governments,
noribank c o r p o r a t i o n s , c o r p o r a t e p e n s i o n f u n d s , n o n p r o f i t i n s t i t u t i o n s , f o r e i g n a c c o u n t s , and i n d i v i d u a l s .
6/ Gross n a t i o n a l p r o d u c t f i g u r e s a r e a v a i l a b l e q u a r t e r l y and a n n u a l l y o n l y . Data f o r t o t a l l i q u i d a s s e t s used i n
computing t h e s e r a t i o s a r e a n n u a l a v e r a g e s (page 1 ; c a l c u l a t e d f o r t h i r t e e n d a t e s ( e a c h month i n t h e c u r r e n t y e a r
and December of t h e p r e c e d i n g y e a r ; o r q u a r t e r l y a v e r a g e s (page 2 f f . ; c a l c u l a t e d f o r f o u r d a t e s ( e a c h month of t h e
c u r r e n t q u a r t e r and t h e l a s t month of t h e p r e c e d i n g q u a r t e r . ;
I
L.4.3
- 27
L i q u i d A s s e t s Held by t h e P u b l i c — Unadjusted S e r i e s
1946 —
(amounts i n b i l l i o n s of d o l l a r s ; r a t i o s e x p r e s s e d as p e r c e n t a g e s )
End of
month
Demand
Personal-type savings
deposits
Total
U. S, Govt,
Total
adjusted personalTime
d
e
p
o
s
i
t
s
Savings
liquid
U.S. Govt s e c u r i t i e s
and
type
ad
.justed
l
/
and
maturing
assets
savings
currency savings
CommerMutual
l
o
a
n
w
i t h i n one
(2+3+8)
bonds 4 /
o u t s i d e (4+5+6+7)
cial
savings
shares
year $ ]
bank* 1 /
banks
banks 2 /
2Z_
6
8
1946
Jan.
Feb.
Mar,
Apr.
May
June
July
Aug.
Sept.
Oct,
Nov.
Dec,
235.0
233.6
254.7
255.8
237.4
238,7
259.4
240.1
1947
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug,
Sept.
Oct.
Nov.
Dec.
259
238
238
238
239
241
242
243,4
243.8
246,7
247.6
246.7
228,6
228,8
102
102,
101
229,4
231,0
For footnotes
http://fraser.stlouisfed.org/
Federal Reserve Bank #
of St. Louis
105,
104,
106,
106,
107,2
107.9
108,9
109,7
110,0
108,6
106,8
106.5
107.4
107.6
108.5
109.0
109,4
110,4
111.6
112,4
113.6
103,6
104 <
105,
105,
106 <
107 <
108 <
108,
109«
109 <
110,
110,8
111
112
113
113
113
114
115
115
116,0
116,4
116,4
116,8
s e e end of t a b l e .
#
#
30,5
31.1
31.5
31.6
32.0
32,4
32.8
35 .1
33 ,3
33 ,5
33 >5
33.8
35.9
34.1
34.2
34.4
34.5
34.8
34.9
54
35
35
35
35
18.5
18,7
18,8
19.1
19.2
19.4
19.6
19,6
7.5
7.5
7.6
7.7
7.8
8.0
8,1
8,2
19.7
19.7
19.9
8.2
8,5
8.4
8.5
20,
20,
20,
20.6
20.7
8.7
20.2
20.8
20,9
20.9
8.8
9.0
9.2
21.0
21.1
21,0
21,2
9.5
9.6
9.8
47.1
47.2
47
47
47
47
47.8
48,0
48
48
48
48
48,8
49
49
49
49
50
50
50
50
50
50.8
50,6
22,1
21,8
23.3
21,6
21,7
20,
19<
19 <
20,
20,
19<
19 <
19 <
18,
18,
17<
1718,
18,
18,
17<
18,
18,8
16,3
Commercial
bank demand
and time d e posits adj.
and c u r r e n c y
(2 + 4)
Ratio:
Commercial
bank d e p o s i t s
+ currency t o
total liquid
assets
(9 + 1)
10
133 ,4
133 > 6
132 ,4
155 .5
156 .9
138 ,4
139 -5
140 >3
141 , 2
142 ,4
143 , 2
143.8
59
59
59
59
59
59.8
59.9
142,
140«
140,
141,8
142
143
143
144.3
145.5
146.8
147.4
148.8
59.5
59.2
59.0
59.5
59.4
59.3
59.3
59.5
59.7
59.5
59.5
60,5
58 ,4
58 ,4
57 .7
58 ,6
58.8
l.4.3
— 28 —
L i q u i d A s s e t s Held by t h e P u b l i c — Unadjusted S e r i e s
194-6 —
(amounts i n b i l l i o n s of d o l l a r s ; r a t i o s e x p r e s s e d a s p e r c e n t a g e s )
End of
month
1948
Jan.
Feb.
Mar.
Apr.
Hay
June
July
Aug.
Sept.
Oct.
Hov.
Dec.
1949
Jan.
Feb.
Mar.
Afcr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Demand
Personal-type savings
deposits
Total
U. S, Govt,
Total
adjusted personalTime
d
e
p
o
s
i
t
s
Savings
liquid
U.S. Govt s e c u r i t i e s
and
type
a
d
j
u
s
t
e
d
l
/
and
maturing
assets
savings
currency savings
CommerMutual
l
o
a
n
w
i t h i n one
(2+3+8) o u t s i d e
bonds 4 /
(4+5+6+7)
cial
savings
shares
year 5 /
"bftnlrw 1 (
bftriTca
banks 2 /
id—
8
±
249.0
248.0
245.8
246.3
247.1
247.2
247.5
248.8
250.0
252.0
252.6
254.1
254.2
252.5
251.4
253.2
254.4
254.7
255.8
258.2
258.2
259.6
260.8
262.5
For footnotes
112.4
110.3
107.1
108.1
108.2
108.3
108.8
109.4
109.6
110.8
111.1
111.5
110.6
108.5
106.2
107.3
107.5
107.2
108.0
108.5
108.0
109.2
110.1
111.7
117.4
120.6
120.8
120.6
121.6
35.2
35.5
35.5
35.5
35.5
35.8
35.7
35.7
35.7
35.7
35.5
35.8
122.2
122.8
35.8
35.9
118.1
118.4
118.6
118.9
119.6
120.3
120.5
123.3
123.6
125.9
124.6
124.9
124.9
125.0
125.2
125.0
125.9
s e e end of t a b l e .
36.0
21.3
21.3
21.4
21.4
21.5
21.6
21.6
21.6
21.6
21.6
11.2
21.9
22.2
36.1.
36.1
35.8
36.1
10.7
10.7
21.8
36.1
36.2
10.6
11.0
36.3
36.1
10.4
10.4
10.5
21.5
21.7
22.0
22.0
22.1
22.2
36.1
9.9
10.0
10.0
10.1
10.2
22.3
22.3
22.3
22.3
22.5
11.3
11.4
11.5
11.6
11.8
11.9
12.0
12.0
12.1
12.2
12.5
51.0
51.3
51.5
51.6
51.7
51.6
52.6
52.7
52.7
52.8
52.9
53.1
53.4
53.7
53.9
54.0
54.1
54.3
54.5
54.6
54.6
54.7
54.7
54.8
19.2
19.6
20.3
19.6
20.0
19.3
18.4
18.9
19.8
20.4
20.9
21.0
21.4
21.2
21.9
22.3
23.0
22.9
22.9
24.8
25.2
25.2
25.7
24.9
Commercial
bank demand
and time d e posits adj,
and c u r r e n c y
(2 + 4)
147.6
145.8
142.6
143.6
143.7
144.1
144.5
145.1
145.3
146.5
146.6
147.3
146.4
144.4
142.2
143.4
143.6
143.5
144.2
144.6
144.1
145.3
145.9
147.8
Ratios
Commercial
bank d e p o s i t s
+ currency t o
total liquid
assets
(9 + 1)
10
59.3
58.8
58.0
58.3
58.2
58.3
58.4
58.3
58.1
58.1
58.0
58.0
57.6
57.2
56.6
56.6
56.4
56.3
56.4
56.0
55.8
56.0
55.9
56.3
LA.3
- 29 Liquid. A s s e t s Held by t h e P u b l i c — U n a d j u s t e d S e r i e s
.
. . .
1946 (amounts i n b i l l i o n s of d o l l a r s ; r a t i o s e x p r e s s e d a s p e r c e n t a g e s )
End of
month
Demand
Personal-type savings
deposits
Total
U. S . Govt,
Total
adjusted personalTime
d
e
p
o
s
i
t
s
Savings
liquid
U.S. Govt s e c u r i t i e s
and
type
a
d
j
u
s
t
e
d
l
/
and
assets
savings
Commer- Mutual
loan
w i t h i n one
(2+3+8) c u r r e n c y
bonds
4/
o u t s i d e (4+5+6+7) c i a l
savings
shares
year
bank* if
banks
banks 2 1
2/
JL
1950
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct©
Nov.
Dec.
262.6
261.8
261.1
260.9
262.2
264.4
264.6
266.9
268.6
271.4
274.3
275.1
1951
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Hov.
Dec.
273.2
272.7
271.6
272.3
273.7
274.7
276.2
278.1
277.9
281.9
284.0
288.3
For footnotes
110.9
109.2
107.8
126.3
127.1
127.7
110.0
128.3
128.7
128.5
108.9
109.7
110.9
111.9
112.5
113.8
115.2
118.2
116.2
115.2
113.4
114.1
114.4
114.5
115.8
116.7
117.4
120.7
122.1
124.4
128.1
128.0
128.0
128.4
128.0
128.8
128.7
128.5
128.7
128.9
129.1
130.1
130.1
130.7
130.9
I3I.5
131.4
132.8
s e e end of t a b l e .
36.1
36.3
36.5
36.6
36.6
36.7
36.4
36.2
36.2
36.2
35.9
36.3
36.1
36.1
36.2
36.3
36.3
36.8
36.8
37.1
37.2
37.5
37.3
37.9
22.6
22.7
22.9
22.9
22.9
23.0
23.0
12.6
12.8
22.7
22.9
12.9
13.1
13.2
13.4
13.4
13.4
13.4
13.6
13.7
14.0
22.9
22.9
22.9
23.0
23.0
23.2
23.2
23.3
23.3
23.4
23.3
14.1
14.2
14.3
14.4
14.6
14.9
15.0
15.2
15.3
15.5
15.7
22.8
22.9
22.9
23.6
16.1
55.0
55.3
55.4
55.5
55.6
55.6
55.7
55.6
55.5
55.7
55.7
55.6
55.6
55.3
55.3
55.2
55.2
55.2
55.1
55.1
55.1
55.1
55.1
55.2
Commercial
bank demand
and time d e posits adj.
and c u r r e n c y
(2 + 4)
8
±
25.4
25.5
25.6
23.9
24.2
25.7
25.2
27.0
147.0
145.5
144.3
145.5
146.3
146.7
147.3
148.1
148.7
28.1
29.2
150.0
31.1
151.1
154.5
28.3
29.0
152.3
151.3
149.6
150.4
150.7
151.3
28.1
29.5
29.3
30.2
30.1
30.3
30.7
29.6
29.7
30.5
31.1
152.6
153.8
154.6
158.2
159.4
162.3
Ratio:
Commercial
bank d e p o s i t s
+ currency t o
totalliquid
assets
(9 • 1)
10
56.0
55.6
55.3
55.8
55.8
55.5
55.7
55.5
55.4
55.3
55.1
56.2
55.7
55.5
55.1
55.2
55.1
55.1
55.2
55.3
55.6
56.1
56.1
56.3
L.4.)
- 30 L i q u i d A s s e t s Held by t h e P u b l i c — Unadjusted S e r i e s
1946 (amounts i n b i l l i o n s of d o l l a r s j r a t i o s expressed a s p e r c e n t a g e s )
End of
month
1952
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1953
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
Demand
deposits
Total
Total
adjusted personalliquid
and
type
assets
c
u
r
r
e
n
c
y
s
a
vings
(2+3+8)
o u t s i d e (4+5+6+7)
bftwkw 1 {
288. U
288.3
286 o0
287.6
288.5
289.1
290.0
291.ii
292.2
29b. 2
296.6
301.2
301.5
300.7
301.1
303.1
299.7
299.8
302.5
303.1
30U.1
307.7
308.2
313.1
For f o o t n o t e s
123.5
121.3
120.5
126.8
129.0
133.lt
133.9
13U.6
135.0
135.5
137.0
137.0
137.6
138.2
138.8
139.1
11*0.5
127.3
Htl. 3
121.3
121.0
121.3
121.8
121.9
122.1
123.0
125.3
125.2
Personal-type savings
Time d e p o s i t s
Savings
ad .ius t e d l /
and
CommerMutual
loan
cial
savings
shares
hftwlra
banks 2 /
hJ—
38.0
38.2
38.5
38.6
38,
39.
39,
39,
39.8
1:0.1
Uo.o
1:0.7
1:0.7
11+2.1
128.1
1U2.9
11:3.7
1U3.7
1UU.8
11:5.2
1U5.U
1U6.U
1U7.1
11:7.1
1:1.0
131.1
11:8.6
1:1.5
Ul,
U2,
U2,
U2.
U2.8.
U3.
U2.
U3.7
125.0
12U.5
12iu3
12U.6
12U.8
125.2
127.7
s e e end of t a b l e .
U. S . Govt
U.S. Govt s e c u r i t i e s
maturing
savings
bonds 4 / w i t h i n one
y e a r J§/
Ul. 2
23.7
23.8
2U.0
2U.1
2U.2
2U.U
2U.5
2U.6
2U.8
2U.8
2U.9
25.1
25.3
25.U
25.6
25.8
25.9
26.0
26.1
26.2
26.U
26.5
26 .U
26.7
16.U
16.6
16.8
17.0
17.2
17.7
17.8
18.0
18.2
18.5
18.7
19.2
19.6
19.8
20
20
20
21
21.3
21.5
21.7
22.0
22.3
22.8
Commercial
bank demand
and time d e posits adj.
and c u r r e n c y
(2 + 4)
8
55
55
55
55
55
55.
55<
55.
55.
55.
55.5
55.5
31
33
30
31
31
30
31
31
31.0
30.1
30.7
31.7
55.7
55.9
32.9
33.U
33.9
3U.U
31.5
30.7
32.7
32.9
32.5
32.9
33.0
33.U
56.0
56.0
55.5
55.5
55.5
55.2
55.5
55.U
55.5
55.U
Ratios
Commercial
bank d e p o s i t s
+ currency t o
total liquid
assets
+_ 1)
(9 +
10
161.5
159
159
159
160
161
161
56.0
55,
55,
55,
55,
55,
55.6
161.7
162.8
165.U
166.8
169.7
55,
55,
56,
56,
56,
168.0
166.2
165.5
166.5
55.7
55.3
166.2
166.5
166.9
167.3
168.0
170.9
171.0
17U.8
55.0
5U
55
55
55
55
55.2
55.5
55.5
55.8
L.4.3
- 51 L i q u i d A s s e t s Held by t h e P u b l i c — U n a d j u s t e d S e r i e s
1946 (amounts i n b i l l i o n s of d o l l a r s 5 r a t i o s e x p r e s s e d a s p e r c e n t a g e s )
End of
month
Demand
Personal-type savings
deposits
Total
Total
adjusted personalTime deposits
Savings
liquid
U.S. Govt
and
type
adjusted l/
and
assets
savings
currency savings
Commer- Mutual
loan
(2+3+8)
bonds
4/
outside (4+5+6+7)
cial
savings
shares
banks l/
banks
banks 2/
V
1
2
3
4
6
5
7
1954
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
312.8
310.3
308.2
310.2
311.3
308.U
310:2
309.6
313.5
316:3
318:1
322.2
129.2
126.5
123.6
125.3
125.5
125.2
126.8
126.3
128:1
130.0
131.5
134.1
149.3
150.1
151.2
152.1
153.3
154.1
154.7
155.4
156.0
156.8
156.8
157.9
43.7
44.0
44.5
44.7
45.0
45.7
46.0
46.2
46.4
46.7
46.3
. 46.8
26.9
27.0
27.2
27.3
27.5
27.6
27.7
27.8
28.0
28.1
28.1
28.4
1955
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
32b.2
319.5
318.6
322. 4
320.7
319.2
321.2
325.7
326.8
330.u
332.2
334.5
133.8
131.3
129.1
131.2
130.1
130.3
131.0
131.2
132.1
133.U
134.8
137.7
158.8
159.6
160.7
161.0
161.7
163.2
163.2
164.0
164.2
164.9
164.8
166.3
46.8
47.0
47.2
47.2
47.4
47.8
47.7
48.0
48.1
48.2
47.7
48.4
28.6
28.7
29.0
29.0
29.1
29.3
29.4
29.5
29.6
29.7
29.7
30.0
For f o o t n o t e s
s e e end of t a b l e .
•
Commercial
U. S . Govt,
bank demand
securities
and time dematuring
posits adj.
within one
and currency
year 5/
(2 + 4)
8
9
Batioi
Commercial
bank deposits
+ currency to
total liquid
assets
(9 + l)
10
23.3
23.6
23.9
24.5
25.1
25.1
25.3
25.6
25.8
26.2
26.5
27.3
55.4
55.5
55.6
55.6
55.7
55.7
55.7
55.8
55.8
55.8
55.9
55.4
34.3
33.7
33.4
32.8
32.5
29.1
28.7
27 r 9
29.4
29.5
29.8
30.2
172.9
170.5
168.1
170.0
170.5
170.9
172.8
172.5
174.5
176.7
177.8
180.9
55.3
54.9
54.5
54.8
54.8
55.4
55.7
55.7
55.7
55.9
55.9
56.1
27.7
28.0
28.4
28.7
29.1
30.0
30.0
30.3
30.5
31.0
31.4
32.2
55.7
55.9
56.1
56.1
56.1
56.1
56.1
56.2
56.0
56.0
56.0
55.7
31.6
28.6
28.8
30.2
28.9
25.7
27.0
30.5
30.5
32.1
32.6
30.5
180.6
178.3
176.3
178.4
177.5
178.1
178.7
179.2
180.2
181.6
182.5
186.1
55.7
55.8
55.3
55.3
55.3
55.a
'55.6
55.0 ,
55.155.0
54.9
55.6
L.4.3
- 32 L i q u i d A s s e t s Held by t h e P u b l i c — Unadjusted S e r i e s
1946 (amounts i n b i l l i o n s of d o l l a r s ; r a t i o s expressed as p e r c e n t a g e s )
Bad of
month
Demand
Personal-type savings
deposits
Total
Total
adjusted personalTime d e p o s i t s
Savings
liquid
U.S. Govt
and
t
y
p
e
a
d
j
u
s
t
e
d
l
/
and
assets
savings
CommerMutual
loan
(2+3+8) c u r r e n c y s a v i n g s
bonds
4/
o u t s i d e (4+5+6+7)
cial
savings
shares
banka
banks l /
banks 2 /
5/
_L
-1
1956
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Hov.
Dec.
335.2
333:5
330.4
332.ii
335.0
331.9
329.9
335.2
335:9
339.7
340.7
344.7
132.8
131.6
133.1
131.6
132.5
132.6
132.0
132.8
135.1
136.3
139.3
1957
Jan.
Feb.
Mar.
A<pr .
May
June
July
Aug.
Sept.
Oct.
Hov.
Dec.
345:3
344.3
342.2
345.0
344.3
347.4
349.9
348.6
348.9
351.4
352.1
356.1
136.9
134.4
132.6
134.7
132.7
133.4
134.4
132.9
133.3
135.0
135.7
138.0
For f o o t n o t e s
136.0
166.7
167.4
168.3
168.7
170.4
171.0
171.2
171.7
172.3
172.7
172.4
173.9
48.3
48.5
48.8
48.8
49.0
49.7
49.7
49.9
50.1
50.2
49.6
50.6
31.6
174.8
175.7
176.7
177.1
178.2
179.4
179.4
179.8
180.5
51.2
51.8
31.7
181.1
180.6
182.4
s e e end o f t a b l e .
52.6
52.9
53.6
54.0
54.4
54.7
55.1
55.5
55.0
56.1
30.2
30.2
30.4
30.5
30.7
30.9
30.9
31.0
31.2
31.3
31.3
31.8
32.0
31.9
32.1
32.4
32.3
32.4
32.6
32.7
32.6
33.0
32.6
33.0
33.3
33.6
34.1
34.8
35.0
35.3
35.5
35.9
36.3
37.1
37.5
37.8
38.1
38.5
38.9
39.7
39.7
39.9
40.3
40.6
41.0
41.9
55.6
55.7
55.8
55.8
56.6
55.6
55.6
55.5
55.5
55.3
55.2
54.6
54.4
54.3
54.0
53.8
53.6
53.3
53.0
52.8
52.5
52.3
52.0
51.4
U. S . Govt,
securities
maturing
w i t h i n one
year 5 /
Commercial
bank demand
and time d e posits adj
and c u r r e n c y
(2 + 4)
8
32.5
33.3
30.5
30.6
33.0
28.4
26.1
31.5
30.8
31.9
32.0
31.5
33.6
34.2
32.9
33.2
33.4
34.6
36.1
35.9
35.1
35.3
35.8
35.7
184.3
181.3
180.4
181.9
180.6
182.2
182.3
181.9
182.9
185.3
185.9
189.9
188.1
186.2
185.2
187.6
186.3
187.4
188.8
187.6
188.4
190.5
190.7
194.1
Ratio:
Commercial
bank d e p o s i t s
+ currency t o
total liquid
assets
(9 + 1)
10
55.0
54.4
54.6
54.7
53.9
54.9
55.3
54.3
54.5
54.5
54.6
55.1
54.5
54.1
54.1
54.4
54.1
53.9
54.0
53.8
54.0
54.2
54.2
54.5
Liquid Assets Held by the Public — Unadjusted Series
1946 (amounts i n b i l l i o n s of d o l l a r s ; r a t i o s e x p r e s s e d a s p e r c e n t a g e s )
End of
month
Total
liquid
assets
(2+3+8)
Demand
Personal-type savings
deposits
Total
adjusted personalTime deposits
Savings
U.S. Govt
and
adjusted l/
and
savings
currency savings
CommerMutual
loan
bonds
4/
outside (4+5+6+7)
cial
savings
shares
banks l/
banks
banks 2/
?/
_L
1958
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
555.5
554.5
552.8
355.6
356.6
353.3
357.7
358.8
359.5
365.3
368.7
375.6
134.9
133.0
132.0
134.8
153.6
133.5
136.0
135.5
136.0
139.0
140.7
144.2
183.6
185.0
187.0
188.4
189.8
191.6
192.4
193.4
193.9
194.7
194.3
196.6
1959
Jan.
Feb.
Mar.
A!pr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
374.1
373.5
373.2
377.5
380.2
380.4
385.3
385.4
385.1
387.9
390.0
393.6
141.4
139.0
138.2
140.4
138.8
139.0
141.1
139.6
139.9
141.0
142.2
145.1
196.8
For footnotes
m
42.4
42.7
43.2
43.6
44.1
45.0
45.1
45.5
45.9
46.4
46.9
48.0
51.4
51.3
51.3
51.2
51.1
51.0
50.9
50.9
50.8
50.8
50.7
50.3
63.4
63.7
64.1
64.5
65.O
65.4
65.3
65.5
65.7
65.5
64.8
65.6
34.9
35.1
35.4
35.4
35.5
35.7
35.5
35.7
35.8
35.6
35.6
35.9
48.4
48.8
49.3
49.8
50.4
51.5
51.7
58.8
61.6
62.3
62.7
62.7
62.9
62.1
202.2
201.9
202.4
202.9
202.7
202.4
205.7
m
63.2
33.2
33.4
33.7
33.7
33.9
34.0
34.1
34.3
34.5
34.6
34.6
35.1
59.9
60.7
197.8
198.9
199.6
200.7
see end of table.
m
56.6
57.6
r
n
52.0
52.5
52.9
53.4
54.5
m
V. S. Govt,
securities
maturing
within one
year JJ\J
Commercial
bank demand
and time deposits adj
and currency
(2 + 4)
10
8
37.0
56.3
33.8
32.4
33.2
191.5
194.7
194.3
195.1
198.3
28.2
29.3
29.9
198.2
29.6
198.7
201.9
31.6
202.8
207.4
50.1
50.2
50.1
35.9
56.7
49.8
49.6
49.4
49.2
48.9
48.7
48.6
47.7
37.5
40.7
39.2
42.3
43.4
42.5
44.2
45.4
44.8
204.8
202.7
202.3
204.9
203.8
204.4
206.4
205.1
m
36.1
m
53.9
53.8
54.1
54.8
54.5
55.2
55.4
55.2
55.3
55.3
55.0
55.2
190.6
190.8
33-7
34.8
49.9
Ratio:
Commercial
bank deposits
+ currency to
total liquid
assets
(9 + 1)
54.7
54.3
54.2
54.3
53.6
53-7
53.6
53.2
53.4
53.2
53.1
53.5
205.6
206.5
207.0
210.7
m
m
m
L.lt.3
- 34 L i q u i d A s s e t s Held by t h e P u b l i c — Unadjusted S e r i e s
1946(amounts i n b i l l i o n s of d o l l a r s 5 r a t i o s e x p r e s s e d a s p e r c e n t a g e s )
End of
month
I960
Jan.
Feb!
Marip
Apr.p
May
June
July
Aug
Sept.
Oct.
Nov.
Dec.
Demand
Total
d
eposits
Total
a
d
j
u
s
t
e
d
p
e
rsonalliquid
t
ype
and
assets
s
a
vings
c
u
r
r
e
n
c
y
(2+3+8)
o u t s i d e (4+5+6+7)
banks 1 /
1
2
3
392.9
390.3
387.6
390.0
141.9
138.5
136.9
139.4
203.5
204.2
205.6
206.0
Personal-type savings
Savings
Time d e p o s i t s
and
adjusted 1/
Mutual
loan
Commersavings
cial
shares
banks 2 /
banks
3/
6
4
5
65.2
65.lt
66.0
66.2
35.8
35.8
36.2
36.1
55.0
55.5
56.0
56.4
U. S . Govt,
securities
U.S. Govt. maturing
s a v i n g s w i t h i n one
year 5/
bonds 4 /
7
0
17.5
47.5
47.4
47.3
47.5
47.6
45.1
44.6
Ratios
Commercial
Commercial
bank demand bank d e p o s i t s
and t i m e d e - + c u r r e n c y t o
posits adj. total liquid
and c u r r e n c y
assets
(2 + 4)
(9 + 1)
10
9
207.1
203.9
202.9
205.6
52.7
52.2
52.3
52.7
-
Preliminary.
Data f o r demand and t i m e d e p o s i t s a d j u s t e d and c u r r e n c y o u t s i d e banks a r e a s of t h e l a s t Wednesday of month.
I n c l u d e s s a v i n g s d e p o s i t s i n t h e P o s t a l Savings System.
~P r i o r t o 1955 d a t a a r e Board e s t i m a t e s based on monthly f i g u r e s of i n f l o w of new s a v i n g s and w i t h d r a w a l s of
s a v i n g s c a p i t a l compiled by t h e F e d e r a l Home Loan Bank Board.
4 / I n c l u d e s a l l t y p e s of s a v i n g s bonds h e l d by i n v e s t o r s o t h e r t h a n banks and U. S. Government a g e n c i e s and t r u s t
funds.
5 / I n c l u d e s a l l m a r k e t a b l e s e c u r i t i e s m a t u r i n g w i t h i n one y e a r ( a d j u s t e d t o i n c l u d e p a r t i a l l y t a x exempt s e c u r i t i e s
t w e l v e months p r i o r t o f i r s t c a l l d a t e ) a n d , p r i o r t o 1956, nonmarketable T r e a s u r y s a v i n g s n o t e s w i t h m a t u r i t i e s
up t o 24 m o n t h s j f i g u r e s i n c l u d e h o l d i n g s of i n s u r a n c e companies, b r o k e r s and d e a l e r s , S t a t e and l o c a l Governments,
noribaric c o r p o r a t i o n s , c o r p o r a t e p e n s i o n f u n d s , n o n p r o f i t i n s t i t u t i o n ^ f o r e i g n a c c o u n t s , and i n d i v i d u a l s .
p
1/
2/
3/
L.4.3
- 35 Seasonal Adjustment F a c t o r s f o r L i q u i d A s s e t s Held by t h e P u b l i c ,
by Type of A s s e t , 1959 and i960 l /
Demand
deposits
adjusted
1959
January
February
|
March
9
April
May
June
July
August
|
September
October
November
December
I960
January
February
March
April
May
June
|
July
August
September
October
November
December
1
|
Currency
outside
banks
Time d e p o s i t s
adjusted
Mutual
Commersavings
cial
banks
banks
2/
Savings
and
loan
shares
U. S. Government
securities—
Other s e c u r i Savings t i e s m a t u r i n g
within
bonds
1 year
102.1
99.7
98.4
100.3
98.5
98.3
99.8
98.7
99.1
100.6
101.2
1/103.8
98.6
98.8
99.0
99.1
99.7
100.0
100.2
100.6
100.2
99.8
1 / 102.8
102.2
99.3
99.5
100.1
100.3
100.6
100.9
100.6
100.5
100.2
100.0
98.4
99.6
100.0
100.0
100.5
100.0
100.1
100.3
99.8
99.9
100.1
99.8
99.4
100.1
100.3
100.1
100.2
99.9
100.0
101.0
100.2
99.8
99.7
99.5
99.4
100.5
99.5
99.8
99.9
100.1
100.1
100.2
100.1
100.2
100.2
100.3
100.5
99.5
105.4
104.8
99.2
98.4
102.9
93.2
97.7
98.5
95.8
99.4
102.4
101.6
102.1
99.7
2 / 97.9
100.3
98.5
2 / 98.1
99-8
98.7
99.1
100.6
101.2
103.3
98.6
98.8
99.0
99.1
99.7
2 / 100.7
100.2
100.6
100.2
99.8
101.8
102.2
99-3
99.5
100.1
100.3
100.6
100.9
100.6
100.5
100.2
100.0
98.4
99.6
100.0
100.0
100.5
100.0
100.1
100.3
99.8
99.9
100.1
99.8
99.4
100.1
100.2
100.1
100.2
99.9
100.0
101.0
100.3
99.8
99.8
99.5
99.5
100.5
99.5
99.8
99-9
100.1
100.1
100.3
100.1
100.3
100.2
100.4
100.6
99.5
105.2
104.6
99.0
98.5
102.8
93.4
98.2
98.5
95.7
99.3
102.5
101.5
l / Seasonal f a c t o r s f o r t h e s e s e r i e s were d e r i v e d on t h e B o a r d ' s e l e c t r o n i c computer u s i n g
a program based on J u l i u s S h i s k i n ' s o r i g i n a l WIVAC s e a s o n a l a d j u s t m e n t program. Because
of space l i m i t a t i o n s , t h e s e a s o n a l f a c t o r s f o r 1959 and I960 only a r e shown. F a c t o r s f o r
p r i o r y e a r s f o r demand d e p o s i t s a d j u s t e d and c u r r e n c y o u t s i d e banks a r e p u b l i s h e d i n t h e
f e d e r a l Reserve B u l l e t i n f o r F e b r u a r y I960, p p . 135-36. Seasonal f a c t o r s f o r o t h e r s e r i e s
f o r 194-6-1958 can be d e r i v e d by d i v i d i n g t h e u n a d j u s t e d s e r i e s by t h e s e a s o n a l l y a d j u s t e d
s e r i e s . For s a v i n g s and l o a n s h a r e s , s a v i n g s bonds, and U. S. Government s e c u r i t i e s
maturing w i t h i n 1 y e a r , t h e s e a s o n a l f a c t o r s a r e t h o s e d e r i v e d from t h e computer w i t h o u t
p r o f e s s i o n a l review o r a d j u s t m e n t .
2 / I n c l u d e s s a v i n g s d e p o s i t s i n t h e P o s t a l Savings System.
# 3 / The customary s e a s o n a l f a c t o r has been changed t o r e f l e c t a s p e c i a l a d j u s t m e n t a s s o c i a t e d
w i t h t h e d a t e on which t h e l a s t Wednesday f e l l ; s e e F e d e r a l Reserve B u l l e t i n , F e b r u a r y I960,
p p . 135-36.
@FedFRASER