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CORAL RESERVE M M BARKING A m 1958 « • « it w Summary. IW^lWlIn1 contraeeaaonally In February reflecting Increased holdings of U, S; Government and other securities. Total loans were unchanged. Demand deposit and currency holdings of businesses and individuals rose somewhat on a seasonally adjusted basis. Free reserves of member banks increased further. Reserves required to be maintained against demand deposits were reduced l/2 of 1 per cent effective February 27 at city banks and March 1 at country banks. Effective March lt the discount rate was reduced l/2 per cent to 2-1/4 per cent at three Reserve Banks. Bank credit. Total loans and investments at all commercial banks increased $1 billion in February, as shown in Table 1, This was the first time in the postwar period that bank credit has expanded during this month. Growth in February followed a record decline in January, which in turn had been preceded by a record increase in December. Since the end of November, total loans and investments at all commercial banks have increased $1,2 billion compared with a decline of $1.6 billion in the comparable period a year ago and with similar declines in other recent years. Holdings of U, S. Government and other securities have increased substantially since November, compared with declines last year. Loans have been reduced more than last year, however* Credit growth in February reflected largely a $700 million increase in holdings of U. S. Government securities; usually these holdings decline substantially during this month. The increase at weekly reporting banks was $900 million, but those districts which are predominately agricultural tended to show only nominal increases or declines, and some small seasonal reduction was assumed to have occurred at nonweekly reporting banks. As a result of the exchange of maturing securities for new issues on February 14, holdings of bonds increased while holdings of certificates declined. Additional acquisitions of securities occurred late in the month. In the week of March 5, when reserve requirements were lowered, holdings of U. S# Government securities increased further at banks in New York and Chicago. (Data are not yet available for Other banks.) Holdings of securities other than those of the U, S. Government also rose further in February, both at banks in New York City> where part of the increase reflected the purchase of City tax notes, and outside. Not for publication M.3 w 2 - Table 1 Estimated Changes in Loans and Investments at All Commercial Banks (In billions of dollars) ' Item Total loans (excluding interbank Business Real estate Security Agricultural Consumer All other Jan. 30, 1958Feb. 26, 1958 y - 0.2 +-0.3 + 0,1 - 0.1 - 0.1 Jan* 31, 1957Feb. 27, 1957 Jan. 1, Year ending: Jan, 1, 19581957Feb, 26, Feb. 27, Feb. 26, Feb. 27/ 1958 1957 1958 1957 + 0,2 - 2*7 — 1*8 + 2.7 + 6.7 + 0,2 - 1.9 - 0*9 --0.3 + 0.2 - 0.2 - 0,3 -~0.6 j - 0*2 + 0.8 + 0.6 + 0.2 + 0.1 +1.1 + 0.1 + + — + + — 1.8 + 1.5 - 2,1* + 1.9 - 0*3 + 6.0 + h.O I U. S. Government securities + 0.7 - 0*9 Other securities + 0.3 + 0.1 + o.U + 1.0 - o.5 - 2.3 Total loans and investments (less interbank) Item 1956 Total loans (excluding interbank Business Real estate Security Agricultural Consumer All other + 0.3 + 0.2 + 0.1 - 0.1 + 0.1 + 0*1 1/ X.l i/ - 3»h Last Wednesday in January to last Wednesday in February 1952 1953 1955 195U + o.U + 0.2 + 0.2 - 0.1 1/ + 0.1 - 0.1 + 0.1 U« S. Government securities - 1.7 - 2.2 Other securities + 0.1 Total loans and investments (less interbank) 1/ Less than #50 million. - 1.2 y - 0.2 . 1 - 0.2 y «• 0.1 + 0.1 - 0.1 1/ + 0.2 + 0.2 1951 + 0.7 + 0.8 + 0.1 + 0.1 — 0.1 1/ - 0.1 0.1 + 0.1 - 1.2 — 0.9 - 0.7 + 0.1 + 0.3 - 0.1 + 0.1 y - 1.7 — 0.8 - 0.9 - 0.5 — 0.2 1/ 1/ - 0.9 Note: Data for February 26, 1958 are preliminary estimates based on data for weekly reporting member banks and estimates for other banks. Later estimates for February will be shown in the Board's statement, "Assets and Liabilities of All Banks in the United States" available at the end of March. Data for December 31, 1957, are estimates. Not for publication it.9 1.5 0.8 0.3 1.2 0,1* L.4.3 - 3 - Table 1 - continued Estimated Changes In Loans and Investments at All Commercial Banks (In billions of dollars) Item Total loans (excluding Interbank) Business Real estate Security Agricultural Consumer All other Nov. 28, 1957Feb. 26, 1958 - 1.0 + + + - liO Oil 0i3 0i3 Oil Nov. 2 9 , Dec. 1, Nov. 25, Nov. 26, 1954195619531955Feb. 27, Feb. 29, Feb. 23, Feb. 24, 1954 1955 1956 1957 - 0.3 f 1.3 - 0.7 + 0i6 - 1.4 + 0i2 4 0i3 - 0.1 + 4 4 4 4 + + 0.3 1/ 0i2 0i6 Oil Oil 0i2 0.2 l! 4 1.0 + 0.4 - Oil 0i3 - 0;2 - 0i2 4 - 0.3 + + - U. S, Government securities + 1.5 - 1.4 - 2.2 - 3.3 - 0.7 - 2.2 Other securities + 0.8 1/ 1/ 4 0.6 + 0,4 - 0.1 + 1.2 - 1.6 - 1.1 T 1.3 - 0.9 - 1.9 Total loans and investments (less interbank) l/ Less than $50 million. Not for publication 0i3 Oil Oil 0.1 + 1.0 Nov. 27, 1952Feb. 25, 1953 1/ - 0i2 - 0.1 4 0.1 4 0;6 Total loans were unchanged in February. Last year in February total loans and investments decline^ $500 million, reflecting a reduction of $900 million in holdings of U# S. Government securities offset in part by expansion in loans and holdings of other securities, Business loans at all commercial banks declined $200 million further in February, following a record dirop in January. At the month-end, business loans at city banks wepe only slightly above their level a year ago but at other banks, where seasonal repayments are of smaller magnitude, tlysy were still $700 million higher than a year ago. Consumer loans also continued to decline in February. Security loans increased $300 million, reflecting substantial growth early in the month, largely to brokers and dealers for purchasing and carrying U. S. Government securities associated with Treasury refunding operations. Agricultural loans rose further as the result of both increased production loans and CCC advances. In February, net repayments by food processors and trade concerns continued as in January to be larger than in most other recent years and those by commodity dealers, which had lagged earlier in the year, were also larger, as shown in Table 2. These repayments more than accounted for the reduction in total business loans in February. So far this year, repayments in these categories have totaled almost $1 billion compared with $700 million last year, when repayments were also exceptionally large. Outstanding loans to sales finance companies declined somewhat further in February, following a sharp reduction in January, which had about matched the December growth. So far this year, these loans have declined $520 million compared with $160 million in the comparable period last year. Loans to most industrial groups other than seasonal borrowers and sales finance companies either increased or remained unchanged in February. There was an expansion of more than $100 million in loans to metals producers. Loans to textile manufacturers rose seasonally, but public utilities continued to make net repayments of bank loans. Deposits and currency. Preliminary estimates indicate that demand deposit and currency holdings of businesses and Individuals, seasonally adjusted, rose $800 million in February, as shown in Table 3. This followed a seasonally adjusted decline of the same amount in January. At the February monthend, the seasonally adjusted money supply was somewhat more than one per cent below the year-ago level. Not for publication L.U.3 ' - 5 .#• Table 2 Changes in Commercial and Industrial Loans 1/ (in millions of dollars) ~ Business of Borrower * 0 ^ ^ Food processors Commodity dealers Trade concerns Total - 117 - 128 - $0 - 295> Sales finance m All other - total Metals and products Textiles, apparel and leather Petroleum, coal, etc* Other manufacturing and mining Public utilities Construction All other types of business Classified Unclassified ^ Jan* 30, 1928Feb, 26, 1958 Total change Jan. 31, Feb. 2, Jan# 27, 19$619$$? 19$7Feb. 27, Feb. 29, Feb. 23, 19$6 19$$ 19$7 - 90 + 29 - Ik -100 + + - h 71 2f> Jan. 28, Jan* 29, Jan* 31, 19$219$319$ltFeb. 2lt, Feb. 2$, Feb. 28, 19$2 19$1* 19$3 9h + 13 - 1$2 - $2 - 32 - 178 - 11*2 - 82 + 2$ - 199 - 113 - 121 $ - 239 - 118 - hi — i|2 + 30 - 2$$ + 3 - 83 - 15 - + 18$ + 111 + 128 + 138 + 3UU + 2lV + 272 + 29 + + 2lt 6 + + 62 32 + 313 + 111 + 7$ + 8I4 + 31 + 90 + 1*6 + 69 + + h - lt$ + 18 + 109 + 8 - 1 + U2 $0 It 11 9 3 8 + + - - + $8 2/ - 23 - 3h + 3 - 7 $7 + - 19 10 7 + 12 - 2 + 26 + 18 + + 9$ 1 - + Ik - 33 + 13 - 153 - h2 + + 23 32 + 6U + 121* + 12 3/- 10 - 19$ + $$ + 76 nh 2/ - 237 h/+ 181 - 1$3 + 11 + 11* - 12 y- - Ilt2 + 56 Note: Classified data are for a sample of about 210 banks reporting changes in their larger loansj these banks hold over 90 per cent of total commercial and industrial loans of all weekly reporting banks and nearly 70 per cent of those of all commercial banks. Data are preliminary for week of February 26, 19$8. 18 + 101* 2/ Less than $$00 thousand* ][/ Includes CCC certificates of interest which are estimated to have declined $30 million. It/ Includes CCC certificates of interest which are estimated to have increased #17$ million. Not for publication $9 2 - L*lu3 f 0 0 Last Wednesday in December to last Wednesday in February 1958 1957 1956 1955 1951 1953 237 128 102 uw - 192 - 89 - 11|0 - nk Food processors Commodity dealers Trade concerns Total ~ 113 - 362 - 960 V - 3a 1U2 205 691 - 233 - 30 - 11 - 27k — » - Sales finance - 517 - 156 - 178 + All other - total Metals and products Textiles, apparel and leather Petroleum, coal, etc* Other manufacturing and mining Public utilities Construction All other types of business • + 18 25 + + k97 + 80 + - 1 8JU 30 Classified Unclassified • ' Table 2—continued Changes in Commercial and Industrial Loans 1/ — (in millions of dollars) Business of Borrower * 6 Total change *» I463 + 18 1952 - 231 - 21k bii -171 — 26 - 371 8 « 236 *» 1 2 2 - 379 - - 160 -6o5 + 316 + + 212 - 317 + 121 TT2? + 70U + 661 + 61 - 27 + 5L + 93 + 119 + 109 — + 96 60 + - 75 3 + 9 + lli3 + + + 69 - — 3k - k9 - 17 33 + - 22 63 37 19 - 31 36 + 118 - 21 50 + 78 35 6 33 - 20 + 13 80 - - 1U6 h6 - — 28 - lltl - -1,502 • 3U6 - 810 - 167 - 218 - 255 - 97k - 95 2/- 67 3/+ kO - 372 - II4.9 - 278 + 8 -1,8147 - 977 - 350 2/- 315 3/- 93k - 521 - 270 38 - 7 - kS «> - 1/ Prior to week ending January 11# 1956, included changes in agricultural loans* 2/ Includes CCC certificates of interest which are estimated to have declined ~ #11$ million* 3/ Includes CCC certificates of interest which are estimated to have increased ~ $175 million* Note8 Classified data are for a sample of about 210 banks reporting changes in their larger loans* these banks hold over 90 per cent of total commercial and industrial loans of all weekly reporting banks and nearly 70 per cent of those of all commercial banks* Data are preliminary for week of February 26, 1958* Not for publication - 7 - L.U.3 Table 3 Estimated Changes Deposits and Currency (In billiins of dollars) Item Seasonally adjusted data %/ " Demand deposits adjusted Currency outside banks Total Unadjusted data 1/ Demand deposits adjusted Currency outside banks Total Time deposits - total Commercial Mutual savings Ue S. Government deposits Total Factors affecting deposits and currency Bank loans and investments other than U.S. Govt, sec.ji/ Commercial ~" Mutual savings Bank holdings of U. S# Government securities: Federal Reserve Commercial Mutual saving and other Gold stock and foreign deposits at F. R, Banks Other factors Jan. 3 1958Feb. 26, 1958 Jan. 31, 1957Feb. 27, 1957 Nov. 20, 1957Dec. 25, 1957 + 0.8 + o*U - 1.0 2/ + O.U - 2,0 2/ + 0,2 + - 0.1 + 0.7 TTO + + + + + =~TT3 + 1.0 +Xo - 2.5 2/ + 0.1 + 0.6 1.7 0*3 2.0 0.9 0,5 + o.U Dec. 26, Year ending: 1957Jan. 29> Feb, 26, 1958 1958 - 0*3 - 0.5 - 0.0 - l.U + 1.2 + 1.0 + 0.2 - 1.9 =3.7 - 1.5 - o.i + l.U + 0.3 - 1.5 + l.U + 0.2 + 1.6 + U.8 - 1.6 - 0,1 — 1,6 + + + + + 7.2 5.6 1.9 lo0 6.6 T33 + 1,8 - l.U (sijns indicate effect on deposits and currency) + o,5 + 0.2 + o.U + 2.1 - 1.8 t 0,2 + 0.2 + 0.3 + 1.5 +~o7H + l.i - 1.0 rTon 1.U + 0.7 +~0»7 2/ - 0.1 — 0,8 m 2/ + 0.1 - O.U +T75 - 0,1 % o.i + 0.5 + 7.U + U*6 + 2.5 +1.1 2/ + o 7E + 1.5 - 0,9 + 0.1 - 1,0 - 2,3 - 0.7 - 0.3 + o.U + 8.7 + 6*U + 2,5 - 3.6 — 0,6 - 2*U - 0.7 + 0,7 - 0.8 l/ Seasonally adjusted data are for last Wednesday throughoutj unadjusted data are for last Wednesday except in case of June and December call dates, when available* 2/ Less than $50 million. 3/ Total includes foreign loans on gold, holdings of bankers' acceptances at the Federal Reserve, and loans to foreign banks; changes in these items are generally relatively small. In addition even if there were no changes in these items, changes at commercial and mutual savings banks would not add to total). change which is "net" because commercial banks exclude all interbank loans, domestic and foreign* t Notes Data for February 26, 1958 are preliminary estimates basedtindata for weekly reporting member banks and estimates for other banks. Later estimates for February will be shown in the Board's statement, "-Assets. and Liabilities of All Banks in the United States" available at tSfe end of March. Not for publication All the growth in the privately-held money supply in February occurred in demand deposits adjusted and offset $800 million of the $1.3 billion seasonally adjust# decline • that had occurred in these deposits since the end of November. Currency outside banks was unchanged in February# however, following a sharp $500 million seasonally adjusted drop in January and a smaller reduction in December. Time deposits probably increased about $1.1 billion further in February, $400 million more than in the period of rapid growth last year. At city banks, the grow#' in these deposits exceeded last year's by over $300 million. This presumably reflected some shifting by large individual or business holders out of Treasury bills. Time deposits of foreign central banks (included in "other factor?" on Table 3) also increased substantially in February, as a result of the shifting out of Treasury bills. Late in the month, many New York City banks reduced by l/2 per cent the interest rates they pay on time deposits of foreign banks. Reports now available for deposits at mutual savings banks in January indicate an increase of $230 million, three times as much as in January 1957* U. S. Government deposits increased $1;2 billion in February, twice as much as in February last year. On balance, total deposits and currency increased $300 million compared with a decline of $1.3 billion last year. The large growth this year reflected the contraseasonal credit expansion at commercial banks and unchanged System holdings of U. S, Government securities compared with substantial reductions in these two categories last year. On the other hand, increase§ in foreign interbank time deposits and a reduction in gold stock drained adjusted deposits this year compared with last. Since November, total deposits and currency have increased $600 million, whereas in most other recent years, there have been substantial reductions. Bank reserves. Free reserves of member banks increased further in February and averaged $315 million compared with $120 million in January, as shown in Table k. Reserves eased at all classes of banks, but reductions in net borrowed reserves at reserve city "banks accounted for a substantial part of the change. In late February, reserve city banks held free reserves for the first time since early 1955• Member bank borrowings from the Federal Reserve dropped to $240 million in February, the lowest monthly average since late 195^. Excess reserves Not for publication 1*1.3 - 9 Table It Free Reserves (Excess reserves minus member bank borrowings; based on average of daily figures; in millions of dollars) Reserve City Country «• 26 - 338 550 338 - 256 - ill - 93 - 86 - 298 356 296 203 319 305 380 3Wi - 1*1 - 123 - 101 *» 300 • 101* - 185 - 181 - 289 - 251* -11*1 - 1*0 - 53 - 253 - 210 - 16# ~ i*e — ~ - 172 21*9 21*2 263 367 1*88 1*52 1*00 1*33 389 3tt2 228 369 299 280 269 192 210 278 21*1* 336 301 252 277 - - 6 - 11*1* 2 337 31*5 Period All member December 1955$ December • 21*5 - 50 - 161 - 1956: March June September December - 1*08 - 195 - 213 - 36 - 171 - 33 - 201* - 91 - 117 126 316 505 1*14* - 383 1*71 1'66 3 hh 293 133 19$hi 1957: January February March April May June July August September October November December 1958* k$9 ~ 5o8 January February Quarterly averages 1955* First Second Third Fourth 122 315 New York - 80 - 105 1*6 21* Chicago * 16 8| 26 -115 -115 -123 - 77 - 25 251* 158 - 127 - 365 - 29 1 - 112 - 192 - 75 — 61* - 67 - 95 - 99 - 150 - 323 - 1*18 1*57 371* 375 3l»l 1956$ First Second Third Fourth - 310 Ill 230 128 - 170 - 96 - 157 - 166 - 11*7 - 175 - 71 - 113 # 329 1*18 31*1 211* 336 278 338 365 1957* First Second Third Fourth • — - 108 1*85 1*1*0 256 . 88 - 196 - 21*1 - 109 - 115 - 11*1 — 56 - 105 - 221 373 1*2& 320 316 221* 286 276 285 310 286 325 315 1*32 67 33 - 35 - 91* 12 8 3 - 51* 22 7 3 2 - 269 289 358 1*1*1 270 380 1958: Jan. 29 Feb. 5 12 19 26 March 5 T - - 12 15 15 30 1*2 1 Note: Data for second half of February and March are preliminary, http://fraser.stlouisfed.org/ Not for publication Federal Reserve Bank of St. Louis $340 million at central reserve city banks, $430 million at • reserve city banks, but only a nominal rise at country banks. Free reserves at country banks declined in late 1957 when reserves were easing elsewhere but rose somewhat in early 1958. Over February, as shown in Table 5> more reserves were supplied to banks principally through further currency inflow, Treasury operations, and reductions in require^ reserves than were absorbed through System sales of U, S. Government securities, declines in Federal Reserve Bank float, an<| changes in other factors. System holdings of U, S, Government securities declined $230 million further • in February compared witl| $ 9 8 0 million in February last year. Required reserves declined $280 million on a monthly average basis compared with $471 million last year and generally less than in most other recent years. Treasury cash was reduced as the result of the monetizatlon of $100 million of "free gold", which added correspondingly to bank reserves. Free reserves averaged close to $300 million during each week of February. They rose to $430 million during the week of March 5 when $500 million of reserves were released to banks through the reduction in reserve requirements. Early that week the System permitted $170 million of maturing Treasury bills to run off offsetting in part the effect of the additional funds on free reserves. Later in the week, however, the System acquired some additional bills, both outright and under repurchase agreements. Total loans and investments at banks in New York and Chicago (data for other banks not yet available) increased substantially further during the week ending March 5. So far this year, free reserves have increased $450 million compared with a decline of $90 million last year. Currency inflow has been larger this year than last. On the other hand, required reserves have declined less and foreign operations have provided fewer reserves than last year's gold purchases from the International Monetary Fund, System holdings of U. S. Government securities have declined only $600 million compared with $1.7 billion last year. Not for publication X Le!u3 - 11 - Table 5 Changes in Member Bank Reserves, with Relmrant Factors (Monthly average of"dally figures; in millions of dollars) "Jan0-1ebi February Item Year ending Fe5% 1958 1957 1958 1957 1958 - 296 - 1*79 — 1*20 - 719 + 181* + 107 - 280 - 16 - 1*71 8 -i Loo - 581 - 138 + 114 + 1*3 + 125 - 18 1957 Member bank reserve balances Total Required reserves Excess reserves 1/ 2/ Principal factors Currency in circulation Gold stock and foreign accounts Treasury operations Federal Reserve float Other factors Effect of above factors on reserves 7 20 (signs indicate effect on reserves) + 1*51 - 20 3 A 161* "" - 211 - 232 + 1*1*5 +1,321* :+ 1*1 + 278 - 20 3/+ 32 - 237 - 536 - 200 - 193 +1,180 13 - 381 + 371* + 521 + 89 3/+ 105 - 527 ~ - 199 - 120 - 81* + 611* - - + 183 + 11*1 1*1 + 152 + 273 + 661 + 996 + 330 + 516 - 1*1*9 - 757 -1,081 -1,717 - 11*1* — 1*12 - 230 - 11*5 - 85 7 - 981 8 9 -1,651* "=171133 - 239 - 22 + 267 +T3S + 37 + 12 - 290 - - 601* - 302 - 302 3 - 209 3 + 231* "* 1 — 1*68 6 - 398 - 25 - 159 federal Reserve loans and investments: Total U, S# Govt* securities Outright Repurchase agreements Acceptances Discounts and advances: To member banks To others - + 1*8 7 + + + 2 13 21* jy — * V/VJ. J J./ CWL ts CJ—U11UU10.C3.X J # 2/ On February 27, 1958, required reserves were reduced about $125 million at central reserve city banks and about $195 million at reserve city banks as a result of the reduction of 1/2 of 1 per cent in the reserves required to be maintained against net demand deposits. On March 1, about $180 million were released at country banks as the result of a similar reduction in reserve requirements* 3/ Reflects reduction of $100 million in Treasury cash as a result of monetization of "free gold" on February 10. Not for publication Reserve requirements. The Board of Governors reduced by 1/2 of 1 per cent reserves required'to be maintained by member banks against demand deposits. Reductions were effective February 2 7 for city banks and March 1 for country banks and released in total about $$00 million of reserves. At central reserve city banks, the reduction from 20 per cent to 19-1/2 per cent of net demand deposits released about $125 million of reserves and at reserve city banks, the reduction from 1 8 per cent to 1 7 - 1 / 2 per pent released about $195 million. At country banks, the change from 12 per cent to 1 1 - 1 / 2 per cent released around $ 1 8 0 njillion. Interest rates. Short-term money market rates declined substantially further during February. Rates on 3-6 month finance paper dropped 1 per cent to 1-7/8 per cent and those on 4-6 months commercial paper and on bankers' acceptances declined 3/4 of 1 per cent to 2-3/8 per cfnt and 1-7/8 per cent respectively, the lowest since 1955• Rates on Federal funds ranged from 3/8 per cent to 2-3/4 per cent during February but were generally low in the second half of tfye month. Effective March J, with the approval of the Board of Governors, the discount rate was lowered l/2 per cent to 2-1/4 per cent at the Federal Reserve Banks of New York, Philadelphia, and Chicago. Not for publication - 13 - 1*4*3 Loans and Investments at All Commercial Banks (in billions of dollars) Loans and investments Date 1947$ Dec. 191*8: Dec, 1949: Dec, 1950: Dec, 1951: Dec, 1952: Dec, 1953: Dec. 1954: Dec, 1955: Dec, 31 31 31 31 31 31 31 31 31 T f r s r Other Govt, secur- Total Business Real Secu- Farm Con- All secur- ities loans estate rity sumer other ities 116*2 111,2 120,1 126.6 132,5 111,5 145.5 155.7 160,3 69.2 62,6 67.0 62,0 61,5 63.3 63.4 69.0 61.6 9.0 9,2 10.2 12,4 13,3 14.1 14.7 16.3 16.7 37.9 42.4 42,9 52.2 57.6 64.0 67.4 70,4 82,0 18,3 18.9 17.1 21,9 25.9 27.9 27.2 26.9 33.2 9.4 10,8 11.5 13,5 14.6 15.7 3-6,7 *8.4 BO.8 2,1 2,3 2,6 2,9 2,6 3,2 3.6 4.5 5.0 1.7 2.9 3.1 2,9 3.4 3.9 5.0 5.2 4.5 3.8 4.8 5.8 7.4 7.5 9.4 10,9 2,9 3.1 3.4 4.2 4.5 4.9 5.1 1 0 . 9 5.6 13*2 6.5 1956: March June Sept, Dec, 28 30 26 31 158,5 159,3 160.7 161,5 58,6 56,6 57.0 58.6 16.6 16.5 16,6 16,3 83.3 86,2 87.2 89,7 34.5 36,1 37.0 38.7 21.2 21.8 22.3 22,5 4.5 4.4 4.1 4.3 4.4 4.3 4.2 4.2 13.4 14.2 14.4 14.6 6,6 6,8 6,7 7,0 1957* Jan, Feb, March April May June July Aug, Sept* Oct, Nov, Dec, Dec, 30 27 27 24 29 26 31p 28p 25p 30p 27p 25p 31e 161,6 161,1 161.U 163,8 163.8 164®3 16U»1 164.6 165.1 166*5 165.9 168.6 169.4 57.7 56.8 55.7 57.5 57.1 55.5 56.3 56.2 55.9 57.3 56.8 57.9 58.3 16,2 16,3 16,5 16,7 16,8 16,8 16,8 16,9 17.1 17.6 17.4 17.7 17.8 87.7 87.9 89.1 89.7 89,9 92.0 91.0 91.5 92.2 91.6 91.6 93.1 93.3 37.6 37.8 39.0 39.0 38.9 40.5 39,6 39,9 40.3 39,7 39,6 40,5 40,5 22.5 22,5 22,5 22,5 22,5 22.6 22.7 22.8 22.9 22,9 23.0 23.1 23.1 3.7 3.7 3.6 3.8 3.8 3,9 3.7 3.8 3.8 3.7 3.6 4.0 4.2 4.2 14.5 4.2 14.5 4.2 14*6 4.1 14.9 4.1 15.1 4.0 15.4 3.9 15.5 3.8 15.6 3.8 15.7 4.0 15.8 4.0 15.7 4.1 1 15.8 4.1 15.8 6,8 6,8 6,8 6,9 7.0 7.1 7.1 1958: Jan, 29p Feb, 26e 166.1 167.1 57.6 58.3 17.9 18,2 90,6 90.6 38.8 38,6 23.1 3.6 4.2 23.1 3,9 4.3 Note: Data exclude interbank loans* Total loans are after and types of loans before deductions for valuation reserves. Consumer and "other loans" are partly estimated for all dates. Other data are partly estimated on all but June and December call dates. All data for February 26, 1958, are estimates and subject to error* Banking Section, Board of Governors, March 12, 1958 7.2 7.1 7.2 7.2 7.2 15.7 7.0 15.6 6,9 e - Estimated Not for publication 7*1
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