Full text of L.4.3 Banking and Monetary Developments : March 21, 1973

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FEDERAL RESERVE BANK
of KANSAS CITY
MAR
March 21,




1973

__

R e s e a r c

2 8
J,

I -IT3
Library -

L.4.3
Not for P u b l i c a t i o n

BANKING A N D M O N E T A R Y D E V E L O P M E N T S
F e b r u a r y 1973

Banking S e c t i o n
D i v i s i o n of R e s e a r c h and Statistics
Board of Governors of the F e d e r a l Reserve System

$

TABLE 1
Changes in Commercial Bank Credit, Money Stock,
and Time Deposits

Seasonally adiusted annual rates (per c e n t )
1969
1970
1971
1975
2nd
4 th
Half
Year
Year
Year ,Year
Jan.
Otr.
2.9

8.4

11.4

14.1

14.2

U.S. Gov't, sec.

-15.7

12.6

4.7

2.1

-3.8

Other securities

-0.3

20.6

20.7

10.6

9.0

Total bank credit

Loans

8.2

Business loans

4.5

12.5

1 4 . 1 - / 18.6
- -

8.1

,2/

1973
Feb. p
20.9
-34.8

9.3

1.0

17 .4

19.1

18.4-

24.5

35.6

17
12.2 "~

13.9

14.4

36.3

44.2

10.2

3.7

5.4

Real estate loans

8.3

3.6

13.7

19.5

17 .9

17 .6

16.0

15.8

Consumer loans 3/

10.0

5.3

12.7

16 .7

19.0

19.0 _ 1 8 . 8

18.4

Adjusted
Total bank credit
Loans
Business loans

Money stock
Total time deposits
Time other than CD's
CD's

(Dollar change
in billions)

for loan sales to bank affiliates

2/

3.9

8.1

11.3

14.0

14.2

14.4 - i8.6

21.9

9.7

4.1

9.9

17.3

19.2

18.72.^4.4

36.9

12.9

3.1

4.8

12.1- /

14.1

15.2

35.8

47.2

3.6

6.0

6.6

8.3

8.5

8.6

-0.5

6.1

-4.8

17.9

18.2

15.5

14.5

14.4

15.7

21.6

1.4

11.1

16.7

13.3

12.1

11.6

12 .9

5.7

-12.4

14.4

7.7

10.1

5.7

3.3

1.2

4.4

1/ Beginning June 1972, business loans were reduced by $400 million as a result
of loan reclassifications at one large bank. Changes have been adjusted to take account
of this reclassification.
2/ Includes $800 million system matched sale-purchase transac tions outstanding on
September 27.




Table 2
Loans and Investments at All Commercial Banks
(Seasonally Adjusted)
Date

Total

Loans
( I n

1968--Dec. 31
1969--Dec. 31 2/
1970--Dec. 31

390.6
402 .1
435.9

1971--June 30 (old)
(new) 4/
July 28
Aug. 25
Sept. 29
Oct. 27
Nov. 24
Dec. 31

461.1

1 9 7 2 — J a n . 26
Feb. 23
Mar. 29
Apr. 26
May 31
June 30
July 26
Aug. 30
Sept.27
Oct. 25
Nov. 29
Dec. 31

p
p
p
p
p

1 9 7 3 — J a n . 31 p r
Feb. 28 p

b i l l i o n s
258.2
279.4
292.0

U.S. Gov't.
securities
of

Other
securities

d o l l a r s
61.0
51.5
58.0

)
71.4
71.2
85.9

463.7
468.4
472.4
477.2
479.8
485.7

302.4
301.7
304.1
309.7
313.0
317.0
318.7
320.6

61.6
60.9
59.9
59.1
58.8
60.7

95.9
96.6
98.0
97.8
99.5
101.1
102.2
104.5

491.4
496.6
505.0
507.4
516.1
517.5
521.9
529.8
535.3 5/
540.4
549.4—
554.2

325.7
328.5
333.8
335.9
341.9
343.7
348.4
356.2
360.0 5/
367.2
373.6 376.6

59.7
61.0
62.3
62.6
63.1
63.2
62.3
61.4
62.0
59.9
60.6
62.0

106.0
107.1
108.9
108.9
111.1
110.6
111.2
112.3
113.3
113.3
115.1
115.6

562 .8
572 .6

384.3
395.7

62.0
60.2

116.5
116.6

62.8

I/ Adjusted to exclude domestic commercial interbank loans.
p - Preliminary.
2y Beginning July 1969, bank credit data are revised to include all bank premises subsidiaries and
other significant majority-owned domestic subsidiaries; earlier data for commercial banks only.
Also total loans and investments are now reported gross of valuation reserves rather than net
as previously reported. Individual loan items have always been reported gross.
4/
5/
6/

Beginning June 30, 1971, Farmers Home Administration insured notes totaling
are included in other securities; previously thev had been included in real
Includes $800 million system matched sale-purchase transactions outstanding
Includes $300 million system matched sale-purchase transactions outstanding




approximately $700 million
estate loans.
on September 27.
on November 29.

ee

ee




ee

ee

ee

eifu!3

ee

ee

ee

LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES

Loj
(out St)rod in* in billions of dollars
Sold to
Affi liates 1/
Business
Business
Total
Loans
Total

.Date

N.S.A.)
Sold to
nonbank public 2/
Business
Total

1971
July 28
Aug. -25
Sept .29
Oct. 27
Nov. 24
Dec. 31

Cmerclal
(sea*

kanlr

Total loans
and inv astments
Original
M l o t t e d 3/

crmA i #•

Total
Ad lusted 3/

Busines
Original

Ad lusted 4/

4.4
4.4
4.6
4.5
4.4
4.5

2.2
2.3
2.3
2.2
2.2
2.0

2.8
2.8
3.0
2.9
2.8
2.8

1.9
1.8
1.8
1.6

1.6
1.6
1.6
1.6
1.6
1.7

0.4
0.5
0.4
0.4
0.4
0.4

463.7
468.4
472.4
477.2
479.8
485.7

466.5
471.1
475.4
480.1
482.6
488.6

304.1
309.7
313.0
316.3
317.5
320.6

307.0
312 .4
316.0
319.3
320.3
323.4

113.2
115.2
116.2
116.6
116.0
115.5

115.0
117.0
118.1
118.4
117.8
117.1

118.1
119.0
120.2
121.5
122.6
122.6 ,
122 .2—
122.9
125.4
126 .0
128.2
129.9
130.8

1.8

1.8

1972
Jan. 26
Feb. 23
Mar. 29
Apr. 26
May 31
June 30(old)
(new)
July 26
Aug. 30 p
Sept .27 p

4.6
4.5
4.4
4.4
4.2
3.9

2,1
2.0
2.2
2.1
1.9
1.8

3.0
2.9
2.8
2.7
2.5
2.3

1.7
1.7
1.8
1.7
1.5
1.4

1.6
1.6
1.6
1.7
1.7
1.6

0.4
0.3
0.4
0.4
0.4
0.4

491.4
496.6
505.0
507.4
516.1
517.5

494.4
499.5
507.8
510.1
518.6
519.8

325.7
328.5
333.8
335.9
341.9
343.7

328.7
331.5
336.6
338.5
344.4
346.0

4.0
4.1
4.0

1.7
1.9
1.8

2.3
2.4
2.3

1.8
1.9
2.0

2.3
2 .5
2.6

0.3
0.3
0.3
0.3
0.3
0.3

524.2

4.0
4.3
4.4

1.7
1.7
1.7
1.7
1.8
1.8

521.9

Oct. 25 P
Nov. 29 P
Dec. 27 p

1.4
1.6
1.5
1.5
1.6
1.7

111:12/
540.4 1 r t /
549.4—/
554.2

348.4
356.2
360.0%/
367.2
373.612/
376.6

350.7
358.6
362.3^/
369.4
.
376 . 1 —
379.2

116.4
117.3
118.4
119.9
121.2
121.1
120.7
121.4
123.9
124.6
126.7
128.2
129.1

1973
Jan. 3 1 P
Feb. 28 p

4.4
4.9

2.0
2.4

2.6
3.1

1.7
2.1

1.8
1.8

0.3
0.3

575.7

384.3
395.7

386 .9
39C .8

133.0

134.7

137.9

140.0

7.0
8.2
3.2
6.9
10.1
6.8
9.5
22.1
12.8
15.3
6 .4
7.2

6.9
8.1
2 .8
6.4
10.4
7.9
8.7
21.1
13.8
14.8
6.4
6.7

7.7
10.9
-2 .2
6.5
9.7
-5.3
11.8
21.2
10.4
4.1
-6.2
-5.2

10.7
-4 .2
o .4
9.5
-5 .2
10.5
20.9
11.3
3.0
-6.1
-7.1

5/
-0.1
5/
-o.i
0.1
0.2
-0.3
5/
0.2
-0.1
-0.1
0.1

1972
Jan. 26
Feb. 23
Mar. 29
Apr. 26
May 31
June 30
July 26
Aug. 3 0 P
Sept .27 P
Oct. 25 P
Nov. 29 p
Dec. 3 1 P

p e V
2!
3/
4/
5/
6/
7/

551.9^
556.8
565.4

Net Change
(Billions of dollars)

1971
Jan. 27
Feb. 24
Mar. 31
Apr. 28
May 26
June 30
July 28
Aug. 25
Sept.29
Oct. 27
Nov. 24
Dec. 31

1973
Jan. 31 p
Feb. 28 p

562.8
572.6

542.6

5/
5/
-0.2
5/
5/5/
-0.1
0.1
5/
-0.1
-0.2

5/
-0.1
5/
-0.2
0.1
0.3
-0.3
5/
0.2
-0.1
-0.1
0.1

-0.2

0.1
-0.1
-0.1
5/
-0.2
-0.3
0.1
0.1
-0.1

0.1
-0.1
0.2
-0.1
-0.2
-0.1
-0.1
0.2
-0.1

0.1
-0.1
-0.1
-0.1
-0.2
-0.2
5/
0.1
-0.1

0.1
5/
0.1
-0.1
-0.2
-0.1
5/
0.2
-0.1

5/
0.3
j 0.1

5/
0.1
0.1

5/
0.2
0.1

5/
0.1
0.1

5/

0.5

5/

0.4

5/

0.5

5/
5/
-0.2
5/
5/
5/
-0.1
5/
0.1
-0.1

5/
, ,

5/
-0.1
5/
0.1
5/
-0.1
5/
5/
5/
5/
5/
0.1

5/
5/
5/
5/
5/
5/
5/
0.1
-0.1
5/
5/
5/

13.2
14.7
9.1
8.0
9.5
13.2
6.8
12.2
10.2
12.2
6.5
14.8

12.8
14.6
9.1
7.4
9.8
13.3
6.2
11.8
11.0
11.9
6.2
14.9

-0.1
5/
5/
0.1
5/
-0.1
0.1
5/
5/
,5/
0.1

5/
-0.1
0.1
5/
5/
5/
5/
5/
5/
5/
5/
5/

14.1
12.7
20.3
5.7
20.6
3.3
10.2
18.2
12.5
11.4
20.0
10.5

14.2
12.4
19.9
5.4
20.0
2.3
10.2
18.3
11.9
11.4
20.6
10.7

19.1
10.3
19.4
7.5
21.4
6.3
16.4
26.9
12.8
24.0
20.9
9.6

19.7
10.2
18.5
6.8
20.9
5.6
16.3
27.0
12.4
23.5
21.8
9.9

9.4
9.3
11.3
15.2
13.0
-1.0
7.0
24.7
6.8
20.2
14.2
8.4

6.9
24.4
5.7
21.0
15.9
8.3

1/
5/

18.6
20.9

18.6
21.9

24.5
35.6

24.4
36.9

36.3
44.2

35.8
47.2

1/

|

j1/

!
;

j

!
i

10.2
9.1
12.1
13.0
10.8

Preliminary
Estimated
To bank holding companies affiliates subsidiaries or foreign branches.
To other than banks' and bank-related affiliates or subsidiaries.
Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches.
includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches.
Less than $50 million.
Includes $800 million system matches sale-purchase transactions outstanding on February 24.
Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million are included in "other securities"
rather than in "real estate loans".
8/ Beginning June 1972, business loans were reduced by about $400 million as the result of loan reclassifications at one large bank.
9/ Includes $800 million system matched sale-purchase transactions outstanding on September 27.
10/ Includes $300 million system matched sale-purchase transactions outstanding on November 29,

*

ee
^

e<

TABLE 3 - Supplementary
LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES
Loans sold outright by commercial banks

Date
Business
Total
Loans
1969
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

28
30
30
27
24
29
26
31

1970
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

28
25
25
29
27
30
29
26
30
28
25
31

2 .0
2 .8
3.7
4.24.7
5.9
6.1 5.3
7.7
8.3
8.5
9.0
9.8
9.8
10.0
9.6
6.8
6 .0
5 .4
4.7

Sold to
Affiliates 1/
Business
Total
Loans

8/
8/
1.7 ~
2.4
2.7
3.0
3.9
4.1
3.2

1.5
2.1
2.8
3.3
3.8
4.8
4.8
3.9

5.1
5.8
6.0
6.4
7.1
7.2
6.9
6.6
4.2
3.7
3.2
2 .5

6.0
6.6
6.8
7.2
8.1
8.1
8.2
8.0
5.2
4.4
3.8
3.0

Commercial bank credit

Sold to
nonbank public 2/
Business
Total
Loans

8/

Total loans
Original
Ad lusted 3/

Businessi loans 11/
Original
Ad lusted 4/

1.3 1.9
2.2
2.5
3.3
3.4
2.6

0.5
0.7
0.9
0.9
0.9
1.1
1.3
1.4

8/
8/
0.4 0.5
0.5
0.5
0.6
0.7
0.6

399.8
400.6
399.5
398.9
398.6
399.5
402.3
402.1

401.3
402.7
402 .3
402 .2
402.4
404.3
407.1
406.0

271.0
271.9
271.6
272.1
273.6
275.6
277.8
279.4

272.5
274.0
274.4
275.4
277.4
280.3
282,6
283.3

102 .3
102.4
102.7
103.4
104.2
104.6
105.1
105.7

103.1
103.7
104.6
105.6
106.7
107.9
108.5
108.3

4.4
5.0
5.3
5.6
6.4
6.5
6.3
6.0

1.7
1.7
1.7
1.8
1.7
1.7
1.8
1.6

0.7
0.8
0.7
0.8
0.7
0.7
0.6
0.6

400.3
400.4
403.9
405.9
407.7
408.4
414.3
419.5

406.3
407.0
410.7
413.1
415.8
416.5
422 .5
427.5

278.5
278.3
279.6
279.3
279.1
279.5
283.2
285.7

284.5
284.8
286.5
286.5
287.2
287.6
291.4
293.7

105.2
105.1
105.1
105.3
105.5
106.2
107.0
108.5

109.6
110.1
110.4
110.9
111.9
112.7
113.3
114.5

3.7
3.2
2.7
2.1

1.6
1.6
1.6
1.7

0.5
0.5
0.5
0.4

424.3
426.2
429.3
435.9

429.5
430.6
433.1
438.9

288.4
289.1
290.0
292.0

293.6
293.5
293.8
294 .9

109.5
109.4
109.3
109.6

113.2
112 .6
112.0
111.7

Net Chiinge
(Billions c)f dollars

During
month
ending:
June 30
July 30
Aug. 27
Sept. 24
Oct. 29
Nov. 26
Dec. 31

0.8
0.9
0.5
0.5
1.2
0.2
-0.8

0.6
0.7
0.3
0.3
0.9
0.2
-0.9

0.6
0.7
0.5
0.5
1.0
5/
-0.9

0.5
0.6
0.3
0.3
0.8
0.1
-0.8

0.2
0.2
5/
5/
0.2
0.2
0.1

0.1
0.1
5/
5/
0.1
0.1
-0.1

2.4
-3.3
-1.8
-0.9
2.7
8.4
-0.6

4.2
-1.2
-0.3
0.6
5.7
8.3
-3.2

4.0
-1.3
2.2
6 .6
8.G
9.6
6.9

6.6
1.8
4.4
8.7
12.5
9.9
3.0

1.1
3.5
8.2
9.3
4.6
5.7
6.9

1970
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

2.4
0.6
0.2
0,5
0.8
5/
0.2
-0.4
-2.8
-0.8
-0.6
-0.7

1.9
0.7
0.2
0.4
0.7
0.1
-0.3
-0.3
- 2.4
-0.5
-0.5
-0.7

2.1
0.6
0.2
0.4
0.9
5/
0.1
-0.2
-2.8
-0.8
" 0.6
-0.8

1.8
0.6
0.3
0.3
0.8
0.1
-0.2
-0.3
-2.3
-0.5
-0.5
-0.6

0.3
5/
5/
5/
5/
5/
0.1
-0.2
5/
5/
5/
0.1

0.1
0.1
-0.1
0.1
-0.1
5/
-0.1
5/
-0.1
5/
5/
-o.i

-5.4
0.3
10.5
5.9
5.3
2.1
17.3
15.1
13.7
5.4
8.7
18.4

0.9
2.1

-3.9
-0.9
5.6
-1.3
-0.9
1.7
l 15.9
;
10.6
11.3
2.9
3.7
8.3

5.1
1.3
7.2

-5.7
-1.1

28
25
25
29
27
30
28
25
30
28
25
31

-

(Annual rates jIn per cent)

 8/ Partly estimated.
9/ Adjusted to maintain comparability with subsequent data.


##

Total loans
and investments
Original
Ad lusted 3/

10.9
7.0
7.8
2.0
17.3
14.2
5.6
3.1
7.0 •
16.1

c - Corrected.

- -

2.9
1.6
15.9
9.5
-0.4
-0.4
1.2
4.5

- —

2 .2
2.3
8.0
9.0
36 8
11.1
-1.1
-1.1
3.3

7.0
10.4
11.5
12.)
13.5
6.7
-2.2
14.4
5.5
3.3
5.4
10.8
8.6
6.4
32,7
-13.6
-6.4
-6 .4
-3.2

##

ee

#e

ee

e#

ee

ee

ee

ee

#e

•<

TABLE 4
NONDEPOSIT SOURCES OF FUNDS AND METHODS OF FINANCE
(Outstandings in billions of dollars)

Date
Total

Total

Euro-dollars
Through branches outside U.S.
Territories
Foreign and possessions

1969
May
Dec.

28
31

12.7
19.6

10.9
14.5

12.8

0.8

1970
June
Dec.

24
30

21.5
11.7

13.1

12.2

0.6

7.7

0.7

1971
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

30
28
25
29
27
24
29

5.2
5.2
4.9

2.2

0.6
0.6

7.0
4.4

1.5
1.5
1.4
2.5
2.9
3.3
0.9

Mar.
Apr.
May
June
July
, Aug.,
Sept.

29
26
31
28
26
30
27

5.0
4.7
5.1
4.8
4. 6
4.6
4.7
4.7
5.3

Oct.
Nov.

25
29

Dec.

27

1973
Jan.
Feb.
1/
2/
3/
4/
5/
6/
2/

31
28 p

6.0
6.6

8.6

2.1
1.9

2.8
3.3
3.7
1.3

1.8

9.9

Direc 1/

Commercial
paper 2/

Loans sold under
repurchase agreement 3/
Customer
To the
To bank
.. nonbank , guaranteed Ineligible
paper
acceptances
public—
Total affiliates—

0.6

0.2 6/

0.8

0.3

4.3

1.0
0.8

0.6

0.2

0.
7

7.6
2.3

0.7
0.7

7
7
7
7

1.7

1.3
1.3
1.3
1.3
1.3
1.3

0.1 6/

0.1

0.5
0.4
0.4
0.4
0.4

2
7
7

1.8
1.9

2.0
2.0

0.3

0.1

0.7
0.7

0.1

0.3
0.3

0.5

1.1

0.2
0.2
0.2
0.2

0.3
0.3
0.3
0.3
0.3
0.3
0.3

0.2

0.2
0.2
0.2
0.2

0.2
0.2
0.1
0.1

0.4
0.4
0.3
0.3
0.3
0.3
0.3
0.3
0.4
0.4

0.3
0.3
0.3
0.3
0.4
0.4
0.4
0.4
0.4
0.4

1.1
1.1
1.1
1.1
1.1

2.0

1.2

1.0

2.1
2.1

1.2

1.0

Z/

0.2
0.2
0.2

1/

0.2
0.2
0.2

0.2

1.4

0.2

2

1.9

1.7
1.4

0.2
0.2

2
7

2.6

0.7
0.7

0.6
0.6

0.1

1.6

0.1

0.4
0.4

0.4
0.4

1.4

0.2

71
7/

2.7
3.1

1.0

0.7

0.6
0.9

0.1
0.2

0.4
0.4

0.6

1.8

1.5

1.5
1.4
1.5
1.4
1.3
1.3

4.9

1.6

5.2
4.9

1.6
1.7
1.7

1.6

2.2

1L

2.0

0.8

0.2

0.2
0.2

0.2

/

2.2
2.2

1.2

1.0

1.1

0.9

0.8

1.0
0.9
0.9
0.9
0.7
0.7
0.7
0.6

2.6

2.0
2.0

0.9
0.9

1.0

0.8
0.8

Includes an indeterminate amount of Federal funds purchases from U.S. Agencies of foreign banks
Issued by a bank holding company or other bank affiliates.
Loans or participation in pools of loans sold under repurchase agreements.
To bank holding companies, affiliates, or subsidiaries.
To other than banks and bank-related affiliates or subsidiaries.
Partly estimated.
Less than $50 million.




0.1

2.3
2.4
2.4
2.5

1.1

0.3
0.3
0.3
0.3
0.3

1.8

0.6
0.2

0.4

7
7
7
7
7
7
7
7
7

1.4

1.4

5.0
5.2

0.6

Through
brokers
and V
dealers

1/

0.2
0.2
0.1

0.1
0.2

0.4

TABLE 5
Loans at All Commercial Banks
Seasonally Adjusted

Business

Date

Real Est"te
( I n

1966—Dec.
1967—Dec.
1968—Dec.
1969—Dec.

78.6

31
31
31
31—

86.2
95.9
105.7

1 9 7 0 — D e c . 31

109.6

1 9 7 1 — J u n e 30(old)
(new)
July 28
Aug. 25
Sept. 29
Oct. 27
Nov, 24
Dec. 31

112.1

Consumer

b i l l i o n s
of
38.2
53.8
40.5
58.4
46.2
64.9 2 /
50.8
70.3— (old)
(new)
69.8
50.3-/
72.3

Security
d o l l a r s )
7.9
9.2

10.2
9.1
10.3

Nonbank
financial

Agriculture

12.0
11.3
12.42/
13.1— (old)
13.6
(new)
14.3

8.7
9.5

10.0
10.6
11.4

56.3

9.5

15.9

12.0

76.7
77.6
78.6
79.5
80.5
81.4

56.7
57.5
58.1
58.8
59.6
60.3

8.8

16.0

9.5
10.3
10.4
10.3

15.9
15.2
15.6
15.8
15.3

12.1
12.2

116.4
117.3
118.4
119.9

82.6

60.8

11.6

83.9
85.2
86.5

62.6

121.2

88.0

63.4

89.3

64.3

July 26
Au%. 30 p
Sept.27 p

121.1 5/
120.7-'
121.4
123.9
124.6

Oct. 25 P
Nov. 29 p
Dec. 31 p

126.7
128.2
129.1

90.6
92.1
93.2
94.5
96.1
97.3

65.1
66,3
67.2
68.3

1 9 7 2 — J a n . 26
Feb. 23
Mar. 29
Apr. 26
May 31
June 30

(old)
(new)

113.2
115.2
116.2

116.6
116.0
115.5

61.5
62.1

69.3
70.4

11.0

12.0

12.3

11.8
13.3
13.3
13.3

16.5
17.0
17.4
16.7
17.1
16.9 5/
17.2 5/
18.4
19.5
18.9

20.2

14.7

21.1
20.7

12.3
12.4

12.6
12.8

12.9
12.9
13.0
13.1
13.2
13.3
13.4
13.5
13.5
13.8
14.1
14.3

98.6
22.2
• 71.5
133.0
14.5
14.5
1973--Jan. 31 p
72.6
137.9
99.9
14.7
Feb. 28 p
23.8
14.6
p - Preliminary
r - Revised i
. .
1/ Data are comparable with previous months. Individual loan items are gross throughout and the effect
of consolidation in June 1969 on any one loan item was nominal.
2/ Real estate loans decreased by $500 million on December 31, 1969, and loans to nonbank financial
institutions increased by $500 million due to change in method of reporting mortgage loans held
under repurchase agreements.
3/ Consumer credit data adjusted in July to exclude about $500 million of consumer paper sold by
finance companies to the banking system but classified as loans to nonbank financial institutions
on bank records. Subsequent repayments completed in February 1972 are also included in loans to
nonbank financial institutions.
4/

5/

Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700
million"are included in other securities; previously, they had been included in real estate loans.
Beginning June 1972, business loans were reduced by $400 million, nonbank financial increased by
$300 million, and "other" loans increased by $100 million as the result of loan reclassification
at one large bank.


6/ Includes $800 million system matched sale-purchase transactions outstanding on September 27.
http://fraser.stlouisfed.org/
ansactions ^j^ptanding o n ^ o g g mber 2 9.
Federal Reserve Bank of St. Louis 7/ lnc!)0i^| $300 m i l l ^ ^ g y s t e m matclqgpApale-purcha

##

e #

Changes in Loans and I n v e s t m e n t s ^ A U Commercial Banks, Seasonally Adjusted
(In billions of dollars)
1972

Item
! Jan.

Feb.

March

Loans and Investments 2/ I +5.7

+5.2

+8.4

+2.4

+8.7

U. S. Gov't, securities

+1.3

+1.3

+0.3

+1.1

+1.8

+5.1

+2.8

+0.9

Business
Real estate
Consumer
Security
Nonbank financial
Agriculture
All other
Total loans excluding
security 2/
Total loans excluding
security and nonbank financial 2/
U
2/

June

/

j

Aug.

+1.4

+4.4

+7.9

+5.5—^

+5.1

+9.0^/

+4.8

+0.5

+0.1

-0.9

-0.9

+0.6

-2.1

+0.7

+1.4

1/

+2.2

-0.5

+0.6

+1.1

4-1.0

1/

+1.8

+0.5

+0.9

+0.1

+5.3

+2.1

+6.0

+1.8

+4.7

+7.8

+3.8-/

+7.2

+3.0

+7.7

+11.4

+0.9

+1.1

+1.5

+1.3

-o.i-/

+0.7

+2.5

+0.7

+2.1

+1.5

+0.9

+3.9

+4.9

+1.2

+1.3

+1.3

+1.3

+1.5

+1.3

+1.3

+1.5

+1.1

+1.3

+1.6

+1.2

+1.3

+1.3

+0.5

+0.7

+0.6

+0.5

+0.8

+0.9

+0.8

+1.2 '

+0.9

+1.1

+1.0

+1.1

+1.1

+1.1

+0.6

+0.4

+0.3

-0.5

+1.5

1/

1/

+0.4

; +1.5-

-0.8

+&.8-Z

-0.5

-0.2

+0.1

+1.2

+0.5

+0.4

-0.7

+0.4

-0.2-^

+1.2

+1.1

-0.6

+1.3

+0.9

-0.4

+1.5

+1.6

+0.1

1/

+0.1

+0.1

+0.1

+0.1

+0.1

+0.1

1/

+0.3

+0.3

+0.2

+0.2

+0.2

+0.6

-0.8

+1.5

-0.1

+0.4

-o.i-/

+0.7

+1.0

+0.2

+1.9

+0.1

+0.5

-0.1

+2.2

+4.5

+2 .4

+5.0

+2 .6

+4.5

+1.7

+4.8

+7.4

+2.3

+8.0

+5.2

+3.5

+7.9

+11.3

+3 .3

+1.9

+4.6

+3.3

+4.1

+1.9

+3.6

+6 .3

+2.9

+6.7

j +4.3

+3.9

+6.4

+9.7

I -1.0

Less than $5C nillion.
Adjusted to exclude domestic interbank loans




May

July

Other securities
Loans 2/

April

~

L

'

Nov.

D

Dec .

d

Jan.

Feb, p

+8.6

+9.8
-1.8

Table 6A
Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted
Adjusted for Loans Sold to Affiliates

(In billions of dollars)

Item

1972

1971

1973

Jan.

Feb.

March

,April

May

June

July

Aug.

Sept. p

Loans and Investments 2/

+5.8

+5.1

+8.3

| +2 .3

+1.2

+4 .4

+8.0

+5.3-/

+5.1

+9.3-/

+4.9

U. S. Gov't, securities

-1.0

+ 1.3

•„ i

j +8.5

+0.1

-0.9

-0.9

+0.6

-2.1

+0.7

+ 1.4

Other securities

+1.5

+1.1

+1.8

1/

! +0.5
I
+2.2

-0.5

+0.6

+1.1

+1.0

1/

+1.8

+0.5

+0.9

+0.1

+1.9

+5.9

1.6

+4.7

+7.9

+3.7 -

+7.1

+6.7—/

+3.1

+7.7

+11.9

+1.1

1/

+0.7

+2.5

40.6

+2.2

+1.7

+0.9

+3.9

+5.3

Loans 2/

+5 .3

+2.8

I

+5.1

j
1

+0.3

Oct. p

; Nov.

P

j Dec,

p

j Jan. p

+8.6

Fel? ,p
+10.3
-1.8

!

Bus iness

+1.0

+0.9

+1.2

j -Ll.3

Real estate
Consumer
Security
Nonbank financial

NOT AVAILABLE

Agriculture
All other
Total loans excluding
security 3/
Total loans excluding
security and nonbank financial 3/
1/
2/
3/
4/
57

v
Less than $50 million.
Adjusted to exclude domestic interbank loans.
Beginning June 1972, business loans were reduced by $400 million, nonbank financial increased by $300 million, and "other" loans increased by
$100 million as the result of loan reclassifications at one large bank. Changes have been adjusted to take account of this reclassification.
Includes $800 million System matched sale-purchase transactions outstanding on September 27.
Includes $300 million System matched sale-purchase transactions outstanding on November 29.




Table 7
Changes in Loans and Investments at All Commercial Banks, at Weekly
Reporting Banks, and at Other Banks, Not Seasonally Adjusted
Adjusted for Loans Sold
Last W e d n e s d a y of January to last W e d n e s d a y of February
Item
1973P
All commercial banks 2/
Total loans
U. S. Gov't, securities
Other securities
Total
All Large Banks

+10.1
-4.1
+0.1
+6.1

1972

1971

1970

1969

1968

1967

+1.6
-0.8
+1.4
+2.2 •

+1.3
-0.1
+1.7
+2.9

1/
-1.6
+0.2
-1.3

+2.4
-3.7
+0.3
-1.0

-1.0
+1.0
+0.5
+0,4

-1.3
+0.6
+1.3
+0.7

2/ 3/

Total loans
U. S. Gov't, securities
Other securities
Total

+7.7
-3.3
-0.2
+4.2

+1.3
-0.4
+0.3
+1.2

+0.5
-0.7
+1.1
+0.9

+0.4
-0.9
+0.4
-0.1

+0.9
-2.5
-0.2
-1.8

-1.3
+0.7
+0.2
-0.4

-1.1
+0.7
+1.1
+0.8

Other banks 2/ 3/
Total loans
U. S. Gov't, securities
Other securities
Total

+2.5
-0.8
+0.3
+2.0

+0.4
-0.5
+1.1
+1.0

+0.8
+0.6
+0.7
+2.0

-0.4
-0.7
-0.2
-1.2

+1.5
-1.2
+0.5
+0.8

+0.3
+0.3
+0.3
+0.9

-0.2
-0.1
+0.2
-0.1

End of December to end of February
Item
1973p

1972

1971

1970

1969

1968

1967

All commercial banks 2/
Total loans
U. S. Gov't, securities
Other securities
Total

+6.5
-5.3
-0.1
+1.1

-3.8
-3.1
+1.5
-5.4

-6.9
-0.3
+2 .8
-4 .4

-8.5
-3.3
-0.5
-12.3

-3.7
-5.0
-0.7
-9.3

-5.0
+0.7
+0.7
-3.6

-5.8
+0.4
+1.9
-3.4

All Large Banks 2/ 3/
Total loans
U. S. Gov't, securities
Other securities
Total

+4 .6
-4.1
-0.8
-0.3

-4.1
-2.1
+0.1
-6.1

-6 .4
-1.1
+1.5
-5.9

-5.8
-2.4
-0.2
-8.5

-4.2
-4.2
-0.9
-9.4

-4.1
1/
+0.6
-3.6

-4.9
+0.4
+1.9
-2.6

Other banks
2/ 3/
Total loans
U. S. Gov't, securities
Other securities
Total

+1.9
-1.2
+0.7
+1.4

+0.3
-0.9
+1.4
+0.8

-0.5
+0.8
+1.3
+1.5

-2.5
-0.9
-0.3
-3.7

+0.6
-0.8
+0.3
+0.1

-0.9
+0.7
+0.1
1/

-0.9
1/
1/
-0.8

NOTE:

1/
2/
3/

Data exclude domestic interbank loans; Call report data for large banks used w h e n
available. Loans adjusted to include all loans sold to b a n k holding companies,
affiliates, subsidiaries, or foreign branches.
Less than $50 m i l l i o n .
Based on revised reporting beginning J u l y 1969. Changes have been adjusted to
maintain comparability of series.
Based on revised coverage beginning July 1966, and January




1967-1973.

Table 8
Changes in Commercial and Industrial Loans at Large Commercial Banks
(In millions of dollars)
Late February to late February 1 /
Business of borrower
1973 p
Food processors
Commodity dealers
Trade concerns
Retail trade
Wholesale trade
Metals
Primary metals
Machinery
Transportation equipment
Other fabricated metals
Textiles, apparel, etc.
Pettoleum
Chemicals
Other durable manufacturing
Other nondurable manufacturing
Mining
Public Utilities, total
Transportation V
Communication 3/
Other public utilities
Construction
A l l other types of business
Bankers acceptances
Services 3/
Other
Foreign business concerns
3/
Classified
Unclassified
Total Change
1/
2/
3/

+144
+99
+581
+336
+245
+418
+59
+295
-8
+72
+256
-15
+184
+302
+76
-26
+420
+59
+115
+246
+96
+601
-57
+272
+386
+74
+3,210
+691
+3,901

1972

1971

1970

-56
-185
+151
+175
-24
+76
+10
-3
+23
+46
+107
-24
+37
+74
+39
-28
-163
+23
-110
-76
+69
+278
-13
+102
+189
+20
+395
+186
+581

-52
-76
+161
+128
+33
+141
+94
-30
+24
+53
+204
-30
+72
+122
+12
-38
-98
+82
-75
-105
+83
+31
+30
-77
+78
+97
+605
+203
+808

-93
-12
+207
+200
+7
+249
-40
+170
+56
+63
+136
-58
+118
+22
+36
-151
-302
-51
-1
-250
+20
-37
-74
+78
-41
-33
+102
-21
+81

II

Late December to late February 2 /
1973 p

+98
+250
+538
+293
+245
+713
+97
+450
+56
+110
+244
+100
+460
+289
+122
+210
+691
+110
+257
+324
+154
+506
-338
+400
+444
+132
H4,507
+697
H-5,204

1972
-92
-208
-128
-173
+44
-316
+23
-280
+27
-86
+33
-39
-120
+33
-117
-203
-203
-83
+28
-148
+82
-595
-397
+18
-216
+2
-1,709
+70
-1,637

1971
-452
-58
-69
+44
-113
-263
+6
-112
-118
-39
+77
-88
-10
-39
-84
-50
+242
+128
+84
+30
+13
-380
-52
-231
-97
-5
-1,176
+78
+1,090

1970
-380
-77
-306
-116
-190
-35
-73
-74
+71
+41
+66
-178
+5
-107
-27
-401
-799
-170
-219
-440
-95
-689
-199
-173
-317
-146
-3,202
-353
-3,555

Four most comparable weeks used throughout.
Changes are compiled from December 27, 1972; December 29, 1971; December 30, 1970; and
data which are always for December 31
December 31, 1969.
These data cannot be linked with all commercial bank
were not reported separately.
Prior to 1967, transportation, communication, services, and foreign loans







##

##

##

Gross Loans and Investments at All Commercial Banks
(In billions of dollars)

Da te
1964- -Dec. 31
1965- -Dec . 31
1966- -Dec . 31
1967- -Dec . 30
1968- -Dec. 31
1969- -Dec. 31 :

1970- -Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

28
25
25
29
27
30
29
26
30
28
25
31

27
24
31
28
26
30 i
(new)
28
July
Aug. 25
Sept. 29
Oct. 27
Nov. 24
Dec. 31

1971- -Jan.
Feb.
Mar.
Apr .
May
June

1972 --Jan. 26
Feb. 23
Mar . 29
Apr. 26
31
May
June 30

Dec . 31

NOTE:
1/
1/
2/
3/

63.0
59.5
56.2
62.5
64.5
54.7

38.8
177.4
44.9
203.2
48.8 2/1219.0 1/ 2/
236.8
61.5
j 264.4
71.5
286.1
71.3

399.1
397.2
400.5
404.8
405.3
411.7
414.1
416.8
424.7
425.6
429.3
446.8

53.0
51.4
51.5
52.3
52.6
51.6
53.5
55.1
55.8
57.2
58.3
61.7

70.6
70.8
72.7
74.3
74.3
75.6
75.7
77.1
79.5

439.5
442 .4 6/
447.7
450.9
453.6
464.8

61.5
61.4

87.1
88.9
91.5
94.2
94 . 9

463.0
466 .1
472.0
476.5
479.9
497.9

59.3
58.7
58.7

98.2
98.1
99.9
101.5

61.0

101.6

!

61.6
60.0
58.8
60.3

60.0

p - Preliminary.
Data exclude domes l

82.5

86.1

f,'iu

104.7

62.7
61.9
62.5
61.9

104.8

60.3
59.6
59.3
60.3
60.9
63.2
66 .6
65.4
61.3

, 563.1
| 568.7

81.0

64.9

61.2

522.0
526.5
534.62/
540.2
549.4
568.1

July 26
Aug. 30
Sept . 27
Oct. 25
Nov,. 29
1973--Jan .31
Feb .28

279.2
307.6
324.0 1/;
360.8
400.4
412.1

490.1
492.4
501.5
506.6
513.7
521.6

(old)
(new)

Real
Estate

Other
I
U.S. Gov ' t. 1 Securities j [ T o t a l Loans

Loans and
Investments

106.2
108.5
•109.7
110.9
111.5
11/. 5

112.6

113.7
113.8
114.4
115.9

275.6
275 .0
276 .3
278.2
278.4
284.5
284.9
284.7
1289.5
287.5
1288.4
299.0
290.9
292.1 6/
294.6
296.7
300.0
.307 .8
307.1
305.6
309.3
313.4
315.1
317.3
328.3
,322.7
324.3
330.5
335.1
341.6
349.8
350.9
354.5
1/
360.62
365.5
371.8
385.6
;382.0
1291.6

60.2

43.7
49.3
54.0
58.5
65.1
70.0 4/

71.4
30.6
38.4
38.4
138.4

70.1
70.1
70.1
70.2
70.3
70.6
70.8
71.1
71.6
71.9
72 .2
72.5

104.1
134.0
lf/r.9
135.5
135 .2
1)8.4
1)7.3
1.07.1
1)9.4
1)8.4

Security

Farm

Nonbank
Financial
Consumer 1 Institutions

All
Other 10/

7.5
8.2
8.6 2/
9.3
9.7
10.3

31.0
35.7
38.3
40.6
46.3
51.0

10.9
13.3
13.3
12.5
13.7
15.1

15.7
16.8
15.3
16.9
19.3

8.2
8.3
8.8

10.4
10.5

8.8
8.6

10.8
11.1
11.2
11.3
11.4
11.4
11.3

50.9
50.7
50.7
51.1
51.5

12 .7
12.4
12.2
12.7
12.3
14.4
14.9
14.4
15.1
14.3
14.3
15.9

19.2
19.0
19.0
19.0
19.4

8.4
8.5
9.0
10.5
11.8
10.7

10.6

7.9
8.4
8.9
9.3
9.4
9.1
12.1

20.6

20.0
19.6

18.8

11.2

53.0
53.3
53.3
53.2
53.6

I 109.1
110.3
111.2
111 .6
112 .4
114.4

72.7
73.0
73.6
74.3
75.2

10.1
9.9
10.0
9.1
8.5
9.7

11.0
11.2
11.5
11.7
12 .0
12 .2

53.6
53.6
54.0
54.9
55.7
56.6

14.5
14.3
15.2
15.2
15.4
17.0

19.9
19.8
19.1
19.9
20.8
21.5

113.4
1.4.2
115.9
115.6
1:5.6
118.5

76.8
77.8
79.0

8.6

12.4
12.5
12.5
12.4
12.4
12.5

57.2
58.0
58.6
59.1
59.7
60.5

15.9
15.5
15.5

21.3

60.4
60.7
61.3

11.9
13.2
13.6

12.6
12 J
12 .8
13.1
13.4
13.6

13.3
13.5
14.7
14.1
14.8
17.3

13.7
13.8
13.7
13.8
13.9
13.9

1)8.8

j

112.5

80.0
80.9

115.2

116.1
I 113.4
i 120.1

• 120.&
123.6
: 12-3.2
122.3
124.2
125.8
127.6
132.5

|
|
I
j
I

11.4
11.3

96.6
97.6

- i3i.a
136 .4

10.0
10.1
10.1
12.9

90.7
92 .3
93.7
95.1

122.2

9.3

| 81.6
82 .5
83.5
84.7
86.1
87.6
89 .2

, 98.5
99.4

11.2

12.0

1/

14.9
14 .4

14.1
14.5

ilf*
16.9

62.2

63.3
< 64 .7

16.0
16.2
16.8
16.9
16.9
18.418.3
18.8
19.3

r69.4
70.6

20.7
22.9

| 71.0

22.0

tr6 8.6

21.2

22.0
21.9

22.6
23.2
25.3
24.5

23.8
24.5
26.4

18.1*

65.6
i 66.9
: 67.7

i

19.4
18.9
19.6

20.0

23.2

11:1 *
27.0
27.0
27.3

28.1
28.8
3G.8
29.7
31.9

are partly estimated on all but .Tune

^

B e g l n n i un n u n r s r i ^ t " ^ ! billion of balances accumulated for the payment of personal loans were deducted from time deposits and 'all Other"
DCgJ.»UJ-»6
'
1
1
1
loans .
- •
• 1•
- -J 11 - 1 1
" 1 "" —
•»«•«•* f
Beginning June 30, 1966, about $1 billion of participation certificates previously included in agricultural and "all other" loans were reclassified
Data^evised'beginning June, 1969, to include all bank premises subsidiaries and other significant

majority-owned domestic subsidiaries; earlier

data are for commercial banks only.
4/

Real estate loans decreased by $500 million on December 31, 1969, and loans to nonbank financial institutions increased by $500 million due to

7/

^ p r o x i m a t e l y ^ 700 million are included in other securities;

i

previously they had been, ^ " t l n s " w " 2 \ ! d u c e d b y ^ W O million, nonbank financial increased by $300 million, and "other" loans Increased

TABLE

10

Ratios to Total Deposits 1/

L O A N S
D A T 15
All
c ommercia1
banks

M e m b e r
B a n k s
Reserve City Banks
New York City of
Chicago Other Country
City
Total

U.S. Government
securities maturing
within one year
All Commercial
Banks

55.6
54.0
1959- -Dec. 31
1960--Dec. 31
55.1
j56.5
55.7
54.5
1 961. - -Dec . 31
56 .5
j57.7
1 962--Dec. 28
58.6
j59.9
1963--Dec . 25
60.5
|61.9
1964--Dec , 31
65.4
63.7
1965--Dec. 31
67.9
65.8
1966--Dec. 31
63.8
65.8
1967--Dec. 30
1968--Dec . 31*, , 64.7 (63.7) 66 .8
72.0 (69.8) 75.7
1969--Dec . 31*~
67.3 (66.2) 69.9
1970--D6C . 31*

67.3
65.9
65 .0
67.9
67.4
69.3
75.9
83.5
79.9
83 .5(76.3)
102.8(86 .4)
87.5(79.6)

58.2
60.8
58.0
61.4
62.1
64 .4
70.2
77 .0
70.8
75.1
89.5
80.6

58.2
59.0
57.7
60.1
63.3
65.0
68.7
70.2
68.1
69.1
79.5
73.3

48.2
50.3
50.2
51 .7
53.8
56.0
57.9
59.2
58.2
58.2
62.8
60.2

7 .4
8.7
11.2
9.5
7.5
8,0
7 .3
6.1
6.4
6.1
5.0
5.7

67.2
1971--Jan . 2 7*
67.3
Feb . 24*
66.1
Mar . 31*
66.4
Apr . 2 8*
66.7
May 26*
66.1
June 30*
66.8
July 28*
66.8
Aug. 25*
67.2
Sept.29*
66.8
Oct. 27*
Nov. 24* 3 j 67.1
67.6
(new) Nov. 24* —
Dec . 31*
65.7

(66.2)
(66 .4)
(65.6)
(66.1)
(66.5)
(65.9)
(66.5)
(66 .6)
(66.8)
(66.4)
(66.6 )
(67.1)
(65.6)

69.5
69.6
68.2
68.5
68.8
68.4
68.8
68.9
69.5
69.1
69.3
70.0
68.0

86.6(79.9)
88.0(82.3)
84.8(81.9)
84.7(82 .5)
85.0(83.4)
84.0(82.3)
84.6(82.9)
85.4(84.3)
87.8(85.0)
87.1(83.5)
86.7(83.6)
89.0(85.8)
84.1 (83.2 )

80.9
81.3
81.4
76.9
77.5
78.7
79.3
80.5
79.4
80.1
80.7
82.9
78.1

72 .5
72.3
70.5
71.5
71.8
71.4
72.2
72.2
72 .4
72.2
72.7
73.5
71 .6

60.6
60.6
59.8
60.2
60.4
59.9
60.3
60.1
60.5
60.2
60.4
60.4
59.2

5.5
4.9
4.7
4.3
4.1
3.9
3.8
3 .4
3.6
3.5
3.1
3.1
3.9

66.5
66.5
66.7
57.0
57.3
58.1
68.4
68.7
68.8

(66.3)
(66.3)
(66.4)
(66.8)
(67.1)
(67.9)
(68.2)
(68.6)
(68.5)

68.7
68.8
69.0
69.2
69.5
70.5
70.5
71.0
71.2

85.6(84.0)
85.5(84.4)
85.1(83.4)
84.1(82.7)
84.7(83.2)
84.9(83.6)
84.7(83.2)
85.6(84.3)
84.3(82.2)

79.9
81.7
82 .5
81.9
83.7
84.7
85.6
85.5
83.6

71.9
72.3
72.8
73.4
73.2
75.0
75.0
75.8
76.8

60.0
60.3
60.3
60.2
60.5
61.0
61.1
61.3
61.4

3.6
3.9
4.0
3.6
3.7
3.5
3*3
o .4
/.
J

76.9
76 .5
76 .9

61.2
61.6
60.7

3.2
3.5
4.2

1972--Jan. 26*
Feb. 23*
Mar.29*
A p r . 26*
May
31*
June 30 *
July 26*
A u g . 30*
Sept.27* p
Oct. 25* p
Nov. 29* p
Dec . 27* p
1973--Jan. 31* p
Feb. 28* p

68.8 (68.7) 71.4
69.1 (68.9) 71.5
68.8 (68.6) 71.5
69.2 (69.1)
70.2 (70.6)

85.6(84.3)
86 .1(84.6)
86.6 (85. i f

85.7
85.8
86.6

Memt er bank datai now aval Liablei only
on ca].1 dates.

3.3

4.0
n .a.

* - Ratios in parenthesis are those obtained by adding Euro-dollars to the deposit base.
1/ Total loans (adjusted to exclude loans to banks); U.S. Government securities maturing
~~
within one year estimated on basis of Treasury survey of ownership; and total deposits
(adjusted to exclude cash items in process of collection).
2/ Beginning June 1969, total loans are reported gross of valuation reserves rather than
~
net as previously reported. The higher loan level increased the ratio by about
1.3 percentage points for all commercial banks.
3/ Loan data revised to exclude only loans to domestic commercial banks. Previous
data had also excluded loans to foreign commercial banks.




Mone^Stock Measures and Deposit Turnover
(Seasonally adjusted; dollar amounts in billions)

M
W
1
Currency
plus
demand - ,
deposits—

m2

M% plus
time dep.
at comm.
other than 2 /
large CD's—

*

^

m3
M2 plus
deposits
at nonbank thrift 3 ,
institutions—

Currency

Components of money stock measures and related items
U.S. Gov't.
Time and
NonDemand
savings deposits
deposits
bank thrift
Deposits
(all member)
CD's
Other
institutions
Total

Turnover
outside
N.Y. City
(per cent)

1968- -December
1969- -December
1970- -December

201.6
208.8
221.3

382.5
392 .3
425.2

577.2
594.0
641.3

43.4
46.1
49.1

158.2
162.7
172.2

23.3
10.9
25.3

180.9
183.5
203.9

204.2
194.4
229.2

194.7
201.7
216.1

4.9
5.3
6.5

45.3
50.0
52.9

1971- -July
August
September
October
November
December

234.1
234.6
234.9
235.7
235.6
236.0

460.0
461.9
463.7
467.3
470.3
473.8

700.1
704.8
709.3
715.8
721.5
727.7

51.5
51.6
51.9
52.2
52.3
52.6

182.6
182.9
183.0
183.5
183.3
183.4

30.4
30.5
31.3
32.1
32.1
33.0

225.9
227.4
228.8
231.6
234.7
237.9

256.3
257.9
260.1
263.8
266.7
270.9

240.1
242.8
245.6
248.5
251.3
253.8

5.1
5.7
6.2
5.0
4.8
6.1

55.0
55.9
55.6
54.3
58.1
57.3

1972- -January
February
March
April
May
June
July
August
September
October
November
December

236.2
239.1
241.4
243.0
243.8
245.1
247.7
248.6
250.1
251.6
252 .7
255.5

477.9
483.9
488.9
492.1
495.5
499.3
504.5
508.4
512.1
516.4
519.8
525.1

735.7
746.0
754.8
761.5
767.9
775.0
783.9
791.5
798.9
806.9
813.5
821.8

52.9
53.7
53.6
53.9
54.2
54.4
54.6
54.8
55.3
55.7
56.2
56.8

183.3
185.8
187.7
189.1
189.6
190.7
193.1
193.8
194.8
195.9
196.5
198.7

33.2
33.7
33.8
35.2
36.8
37.5
38.3
39.1
39.8
40.0
41.2
43.2

241.7
244.8
247.5
249.1
251.8
254.2
256.8
259.8
262.0
264.8
267.1
269.6

274.9
278.6
281.3
284.3
288.6
291.7
295.0
298.9
301.9
304.8
308.4
312.8

257.8
262.1
265.9
269.4
272 .4
275.7
279.5
283.1
286.8
290.5
293.7
296.7

6.3
4.6
5.7
6.8
7.5
6.2
5.2
4.5
5.1
6.3
6.9
6.5

56.3
56.2
57.2
58.9
58.7
58.6
57.1
60.2
60.1
59.2
62.1
61.8

1973- -January
February p

255.4
256.7

527.9
530.5

828.3
834 a

57.0
57.5

198.4
199.3

44.4
48.8

272.5
273.8

316.9
322.5

300.4
303.7

7.1
7.2

65.5
n .a.

256.3
256.4
258.3
255.9

529.0
530.4
532.4
530.2

n.a.
n .a.
n.a.
n .a.

57 .4
57.4
57.7
57.3

198.9
199.0

47.3
48.2
49.1
50.7

272.8
274.0
274.1
274.4

320.1
322.0
323.2
325.1

n .a.
n .a.
n .a.
n .a.

5.5
6.9
8.6
7.9

n .a.
n .a.
n .a.
n .a.

Week ending:
1973--February

7
14
21
28

200.6
198.5

r

1/ Includes (1) demand deposits at all commercial banks other than those due to domestic commercial banks and the U.S. Government, less cash items
in the process of collection and F.R. float; (2) foreign demand balances at F.R. Banks; and (3) currency outside the Treasury, F.R. Banks and vaults of
all commercial banks.
2/ Includes in addition to currency and demand deposits, savings deposits, time deposits open account, and time certificates of deposits other than
time certificates of deposit issued in denomination of $100,000 or more by large weekly reporting commercial banks.
Digitized fornegotiable
FRASER
3/ includes M^, plus the average of the beginning and end of month deposits of mutual savings banks and savings and loan shares.
http://fraser.stlouisfed.org/

Federal Reserve Bank of St. Louis

Period

TABLE 12
Time and Savings Deposits at Large Commercial Banks
(In millions of dollars)
Time and Savings Deposits
State Political
Large
ConsumerConsumerNegotiable Foreign Official
type
Savings
type
time
Total
etc.
CD's 1/
time
& savings
89,495
89,639
102,809
102,991
111,900
112,103
96,589
96,787
119,442
120,206

65,733
65,864
73,686
73,858
79,443
79.637
77,616
77,812
82,776
83,473

47,099
47,213
48,647
48,781
49,016
49,161
46,486
46,63?

18,634
18.651
25,039
25,077
30,427
30,476
31,130
31,180

15,659
15,642
20,330
20,330
22,821

48,032
48,479

34,744
34,994

26,074
26,125

10^592

1971-Dec .
Dec.

29 (old)
29 (new)

140,933
141,259

94,516
94,810

54,543
54,738

39,973
40,072

33,951
33,951

12',466
12,497

1972--Jan.
Feb.
Mar.
Apr,

26
23
29
26

142,835
144,123
144,863
146,743
149,089
149,657

96,365
97,617
99,402
98,741
99,764
100,626

55,723
56,425
57,616
57,279
57,622

40,642
41,192
41,786
41,462
42,142

33,852
34,011
33,457
35,580

12,495
12,004
13,699
13,745

151,357
155,510
156,287
157,388
158,860
161,090
161,311

100,907
101,618
102,596
102,758
1:102,795
102,966
102,945

57,938
57,823
58,070

42,784
42,969

35.903
37,705

13 ,128
12,745

43,795
44,526

41,213
41,219

12,679
12,472

58,183
58,1%
58,293

42,277
43,926

12,353
12,139

44,7'6'3

162,936

rl03,487

58,186

44,598
44,612
44,814
44.652
45,301

44.911
45,782

13,361
13,269
13,667

164,388
165,252
166,421
168,211

103,627
103,514
103,621
103,963

45,451
45,423
45,511
45,875

47,109
47,955
48,974
50,507

13,652
13,783
13,826
13,741

.May

31

June

28

July 26
Aug. 30
Sept. 27
Oct. 25
Nov,29
Dec. 27 (old)
(new)
1973--Jan. 31

57,842

58,160

22,820
10.910
10,919

34,234

Week ending:
1973--Feb.

7
14

21
28

58,176
58,091
58,110
58,088


1I Negotiable certificates of deposit issued in denominations of $100,000 or more.


ee

~ ee

8,103
8,133
8,793
8,803
9,636
9,646
8,054
*,056

1966--Dec. 28 (old)
Dec . 28 (new)
1967--Dec. 27 (old)
Dec. 27 (new)
1968--Dec . 31 (old)
Dec . 31 (new)
1969--Dec . 31 (old)
Dec , 31 (new)
1 9 7 0 - D e c . 30 (old)
Dec . 30 (new)

ee

••

ee

••

e#

##

10,608

12,618

ee

f

#e

e<

TABUS 13
Member Bank Reserves
(Based on averages of daily figures; in millions of dollars')

Free reserves
(excess reserves minus borrowings)

DA T E

All
member 1/

Reserve City Banks
New York
City of
City
Chicago

Other

Excess
Reserves
Country

All
member 1/

Borrowings
All
member

Total reserves
held seasonally
adjusted
All
member

Monthly Averages;
1959- December
1960 -December
1961 -December
1962- -December
1963- -December
1964- -December
1965- -December
1966- -December
1967- -December
1968- -December
1969- -December
1970- -December

-424
669
419
268
209
168

1971--Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.

-91
-127

19
-14
-70
-95
-22

-130
-203
9

-120
-8

-21

-18

-67
-127

-322
-658
-606

-295
-153
144
58

Nov.

-188

Dec .

-62

19
15
-90

Apr .
May
June
July
Aug.
Sept.
Oct •

1973 — Jan.- r
Feb.- p

1/

-165
107
-310
-829
-49

153
91
134
27
-15
110
-55
-183
-352
-327

1972--Jan.
Feb.
Mar .

NOTE:

-2

-109
10
-50

-110
-111

-29
-56
-71
-10

8
-5
-14
-50
-36
28

17
-110
-107
2

-830

-78
-321

-823
-1,418

r -98
-338

-104
-4
-22
-11
21

-31
-8

-50
-5
-70
-9
3

-6
19
-25
3
2
-39
-29
-10

2
-14
-7
-9

-5
-13
1
-3
-1
2

-1
-13
-23
-18

-42
r -106
-118

-449
80
20
-52
-122

-103
-161
-159
-55
-180

-473
-222

-282

-333
-155
-154
-45
-173
-449
-437
-280
-144
-112
-57

237
583
471
394
334
315
238
140
187
70
-144
161

178
172
150
164
92
17
-92

-58
24
45
53
132

13
130
17
-6
-55
-33
-105

144
82
79
116
31

-62

-10

-197

-35
-90
-301
-424

-216

-241
-471
r -*1.1
-725

482
756
568
572
536
411
452
392
345
455
257
272

906
87
149
304
327
243
454
557
238
765
1,086
321

18,519
18,836
19,641
19,551
20,159
21,150
22,247
23,351
24,773
27,219
27,959
29,121

279

370
328
319
148
330
453
820
804
501
360
406
107

29,390
29,622
29,776
29,943
30,335
30,536
30,654
30,710
31,031
30,889
30,992
31,209

2U
33
99
109
119
94

31,776
31,639
32,021
32,612
32,852
33,027
33,171
33,381
33,327

201

199
140
312
131
162
198
206
207
263
165

141

173

9

124
233
136
104
204
147
255

r-287
-516

702

247
418
219

438
514
-574
606
1,049

342
175

1,165
1,593

162

33,832
31,883
31,309
32 , 242
31,638

-4Aggregate reserve series has been adjusted to eliminate changes in percentage reserve requirements against deposits, but reserve
requirements on Euro-dollar borrowings are included beginning October 16, 1969, and requirements on bank-related commercial paper
are included beginning October 1, 1970.
Beginning with week ending November 15, 1972 total member bank data includes $450 million of reserve deficiencies on which F.R. Banks are allowed


to waive penalties for a transition period in connection with bank adaptation to Regulation J as amended effective November 9, 1972. Beginning
1973, allowable deficiencies included are. (beginning with f irst statement week of quarter): J%1, $279 million, Class of bank data, are not adjusted.
http://fraser.stlouisfed.org/ >
Federal Reserve Bank of St. Louis

TABLE 14-A
Liquid Asset Holdings of Private Domestic Nonfinancial Investors*
(Seasonally adjusted monthly averages; amounts in billions of dollars, ratios in per cent)
Currency and deposits

Other liquid assets
Time Deposits

U.S. shortterm
marketable
Treasury
securities
10

Period

Total
liquid
assets
1

2

1965--Dec.
1966--Dec.
1967--Dec.
1968--Dec .
1969--Dec .
1970--Dec .
1971--Dec.

561.0
590.6
640.7
699.1
730.9
781.5
865.7

451.0
473.7
520.4
563.2
582.2
630.7
719.3

36.3
38.3
40.4
43.4
46.1
49.1
52 .6

119.1
121.1
129.4
139.4
143.6
151.5
161.3

125.2
136.9
156.3
174 .4
177.2
198.7
233.4

170.4
177.3
194.2
205.9
215.4
231.4
272 .0

110.0
117 .0
120.4
135 .9
148.7
150.8
146 .4

14.9
14.5
19.1
22.4
9.0
23.0
29.8

6.8
8.8
10.4
14.9
23.4
22.6
21.5

38.7
43.6
39.9
47.2
65.3
53.8
41.5

1971--March
June
Sept.
Dec .

807.2
828.6
845.9
865.7

659.9
684.5
700.4
719.3

50.0
51.0
51.9
52.6

154.6
160.0
161.0
161.3

212 .5
219.8
224.3
233.4

242.8
253.7
263.1
272 .0

147.3
144.1
145.5
146 .4

26.4
26.8
27.8
29.8

21.2
18.7
20.4
21.5

48.0
46.1
44.1
41.5

1972--March
June
Sept.
Dec .

893.4
918.1
944.4
977 .2

747 .7
767 .1
790.9
814.5

53.6
54.4
55 .3
56.8

166.1
167 .8
171.2
174.7

243.0
249.4
257.0
264.8

285.0
295.6
307.4
318.2

145.7
151.0
153.5
162 .6

30.6
34.3
36.7
39.2

21.5
21.9
21.3
21.6

39.2
39.4
39.4
44.9

54.5
55.3
56.1
57.0

1972--Jan.
Feb .
March
April
May
June

873.3
883.1
893.4
902.6
910.4
918.1

728.0
738.3
747 .7
754.4
760.3
767.1

52.9
53.2
53.6
53.9
54.2
54.4

161.5
163.9
166.1
167 .3
167.1
167.8

237.4
240.4
243.0
244.4
247.0
249.4

276.3
280.9
285.0
288.8
292 .0
295.6

145.3
144.8
145.7
148.2
150.1
151.0

29.9
30.4
30.6
32.1
33.6
34.3

21.6
21.6
21.5
21.6
21.8
21.9

39.9
38.5
39.2
39.7
39.7
39.4

53.9
54.2
54.5
54.8
55.1
55.3

927.3
935.9
944.4
953.3
963.8
976.1

775.7
783.3
790.9
799.1
805.9
814.5

54 .6
54.8
55.3
55.7
56.2
56.8

169.5
170.2
171.2
172.1
172.7
174.7

251.9
254.9
257.0
259.8
262.2
264.8

299.6
303.4
307 .4
311.5
314.9
318.2

151.6
152 .5
153.5
154.2
157.8
161.5

35.2
36.1
36 .7
36.6
37.5
39.2

21.9
21.5
21.3
21.0
21.5
21.6

38.9
39.1
39.4
40.2
42.2
43.8

55.6
55.9
56.1
56.4
56.7
57.0

981.9
990.3

820.7
826.5

57.0
57.5

173.9
174.2

267.6
268.7

322.2
326.1

161.2
163.8

40.0
44.2

21.5
21.1

42.5
41.0

57.3
57.5

July
Aug.
Sept.
Oct.
Nov. r
Dec . r
1973--Jan.r
Feb. p

*

For

Note:

description

of

Total

items,

and

Currency

Demand
deposits

3

computation

Commercial
banks

4

of

ratios

5

see T a b l e

Thrift
institutions
6

Total

7

8

Commercial
paper
9

Savings
bonds
11
49.5
50.1
51.0
51.4
51.1
51.3
53.7

1

14-C.

Data revised for entire period to conform with money stork revision and revisions in other series.




Negotiable
CD's

All data available in Flow of Funds Section.

»

51.8
52.4
53.1
53.7

TABLE

Period

Currency
and demand
d e p o s i t s to
liquid assets
12

Bank
liability
to liquid
assets
13

14-B

Time deposits
at thrift
institutions to
liquid assets
14

Liquid
assets
to GNP
15

Currency
and demand
deposits
to GNP
16

1965--Dec.
1966--Dec .
1967 — D e c .
1968--Dec.
1969--Dec .
1970--Dec.
1971--Dec.
1972--Dec .

27.7
27.0
26.5
26.2
25.9
25.7
24.7
23.7

46.2
46.1
47.6
48.1
45.1
47.8
49.0
49.0

, 30.4
30.0
30.3
29.5
29.5
29.6
31.4
32.6

78.9
77 .3
77.6
77.5
77.3
77.4
79.0
80.2

22.1
21.2
20.8
20.4
20.2
20.1
19.9
19.4

1971--March
June
Sept.
Dec .

25.3
25.5
25.2
24.7

48.7
49.1
48.9
49.0

30.1
30.6
31.1
31.4

78.0
78.7
79.6
79.7

19.8
20.0
20.1
19.8

1972--March
June
Sept.
Dec .

24.6
24.2
24.0
23.7

49.2
49.2
49.2
49.0

31.9
32.2
32.6
32.6

79.6
79.9
80.5
80.6

19.6
19.5
19.4
19.2

1972--Jan.
Feb.
March
April
May
June
July
Aug.
Sept.
Oct .
Nov.
Dec .

24.5
24.6
24.6
24.5
24.3
24.2
24.2
24.0
24.0
23.9
23.7
23.7

49.1
49.2
49.2
49.2
49.2
49.2
49.2
49.3
49.2
49.1
49.0
49.0

31.6
31.8
31.9
32.0
32.1
32.2
32.3
32.4
32.6
32.7
32.7
32 . 6

n .a.
n .a .
n .a.
n .a.
n .a.
n .a.
n .a.
n .a.
n.a.
n .a.
n .a.
n .a.

n .a.
n.a.
n.a.
n.a.
n .a.
n .a.
n .a.
n.a.
n.a.
n.a.
n .a.
n.a.

1973--Jan.

23.5
23.4

49.0

32.8

49.2

32.9-

n.a .
n.a .

n.a.
n.a.


Feb . p