The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
\
L.4.3
fl
o.\
.
.1
AND MONETARY DEVELOPMENTS IN MARCH I960
„ Resear* W
Bank credit. Total credit at a l l commercial banks declined
further in March as continued substantial reductions in holdings of U. S.
Government securities more than o f f s e t moderate expansion in t o t a l loans.
Loan growth of $1.1 b i l l i o n was about the same as in 1955 but l e s s than
in other recent years of economic expansion. Growth in business loans,
however, was substantial. Holdings of U. S. Government securities
declined $2 b i l l i o n while holdings of other s e c u r i t i e s , which usually
increase in March, were unchanged.
So far t h i s year, t o t a l credit at a l l commercial banks has . /
declined $6 b i l l i o n , almost twice as much as in any other recent year.—'
Over $4-1/2 b i l l i o n of the decline was accounted for by unusually large
reductions in holdings of U. S. Government s e c u r i t i e s . Total loans
declined $800 million; while business loans increased substantially,
most other types of loans increased l e s s or declined more than usual.
Holdings of other securities also declined over the f i r s t quarter of
i960 whereas generally at t h i s time of year they increase.
Both weekly reporting c i t y banks and nonreporting
record reductions in t o t a l credit in the January-March i960
Total loans declined substantially at reporting c i t y banks,
increases in the 1955-56 periods of economic expansion. At
t o t a l loans rose more in early i960 than in the two e a r l i e r
banks showed
period.
compared with
other banks,
years.
Business loans at a l l commercial banks (excluding loans to
finance companies and other financial businesses) increased $1 b i l l i o n
in March, more than in any other year except 1956. The tax period rise
at c i t y banks (the two weeks ending March 16) was somewhat larger than
in the two past years, and the post-tax date reduction was r e l a t i v e l y
moderate. Business loans had declined sharply in January, but t h i s
followed record growth in December. In February, renewed expansion was
substantial. The i960 f i r s t quarter r i s e of $600 million exceeded that
in the f i r s t quarter of any other recent year except 1956, a year of
record growth for these loans.
Loans to manufacturers of metals and metal products continued
t o increase rapidly in March; these loans accounted f o r over half of the
t o t a l business loan r i s e at c i t y banks. Borrowing by trade concerns and
t e x t i l e manufacturers, both of which are now increasing seasonally, rose
more than in any other year. Borrowing by "other manufacturing" industries
l7
See note at e n d o f Report.
Not f o r publication
i
and construction firms has also been r e l a t i v e l y substantial t h i s year.
Repayments by food processors were about seasonal in March while those
by commodity dealers continued larger than seasonal following a larger
r i s e than usual in the l a t t e r part of 1959 •
Consumer loans at a l l commercial banks are estimated to have
shown a s l i g h t l y more than seasonal r i s e in March, but growth so far
t h i s year has been moderate. Real estate loans declined at c i t y banks
during the f i r s t quarter of i960; growth at other banks appeared small
but about the same as in most other recent years*
Security loans at a l l commercial banks declined further in
March whereas usually in t h i s month they increase. So far t h i s year,
these loans have declined $1.6 b i l l i o n , twice as much as in any other
recent year. In January and February i960 most of the decline was in
loans secured by c o l l a t e r a l other than U. S. Government s e c u r i t i e s but
in March, the decline was about equally divided between loans secured
by W. S. Government securities and those secured by other c o l l a t e r a l .
Loan-deposit r a t i o s . A special table has been included in
t h i s report showing annual data on loan-deposit ratios beginning in
1896 for a l l commercial banks in l $ l 4 for a l l member banks, and in 1919
for classes of member banks. During most of the period from 1896 t o
the outbreak of World War I , the loan-deposit r a t i o of commercial banks
was r e l a t i v e l y stable, fluctuating between 75 and 80 per cent, although
i t was at the unusually high l e v e l of more than 90 per cent at the
beginning of t h i s period. I t declined t o the 70 per cent l e v e l during
World War I , where i t remained u n t i l a f t e r the 1929 crash, except for
temporary jumps to 8 l per cent in the postwar i n f l a t i o n of 1920-21 and
75 per cent in the 1929 boom.
From 1929 u n t i l l a t e in World War I I , the ratio declined
sharply, r e f l e c t i n g reduced loan demand and rapid monetary expansion,
f i r s t as a result of anti-depression measures and l a t e r as a result of
inflationary methods of financing the War. At the end of World War I I ,
the ratio for a l l commercial bapks was 18 per cent, only s l i g h t l y above
the war-time low.
In the postwar period, the ratio has about tripled, r i s i n g
somewhat l e s s at central reserve c i t y banks in New York and considerably
more at country banks. The current l e v e l a t the end of March is the
highest since 1932 but considerably below the l e v e l of the 1920's for
a l l except New York central reserve c i t y banks. The ratio of capital
t o loans at the present time is a l s o somewhat lower than in the 20's,
being 18 per cent compared with a range of 22-26 per cent in the e a r l i e r
period.
Not for publication
Deposits and currency. Seasonally adjusted demand deposit and
currency holdings of businesses and individuals increased $400 million
in torch following a decline of $1.1 b i l l i o n e a r l i e r in the year. 1 /
At the end of March, the seasonally adjusted money supply was about""1/2
per cent below the l e v e l a year ago.
Seasonally adjusted semi-monthly averages of daily demand
deposits adjusted a t member banks are estimated to have declined $880
million, on the basis of revised seasonal factors, between the second
half of February and the second half of March (preliminary). So far
"this year, these deposits have declined $1.4 b i l l i o n , somewhat more than
the $900 million decline in the l a s t Wednesday s e r i e s .
Time deposits at a l l commercial banks increased $600 million
in March, considerably more than in February. The increase was also
larger than in March of other recent years of economic expansion. In
January, usually a month showing l i t t l e change, the decline had been
substantial. Growth in these deposits so far t h i s year has been only
$100 million, considerably l e s s than in other recent years. Growth in
deposits at mutual savings banks also has been l e s s t h i s year than in
other years but the March growth, alone, was larger.
Interbank time deposits at c i t y banks (not included in above
data,)which represent largely holdings of foreign banks, increased in
March. These deposits had declined each month since the spring of 1959.
U. S. Government deposits increased l e s s than usual in March.
These deposits were drawn down over the f i r s t half of the month and subsequently rebuilt through the depositing of tax payments.
Deposit turnover. The seasonally adjusted annual rate of turnover of demand deposits at 337 centers outside Hew York and other financial
centers declined somewhat to 25.8 in March following an exceptionally
sharp r i s e in February» At the end of torch, the turnover rate was 7-1/2
per cent above the rate a year ago and 3-1/2 per cent above that of
December 1959.
.
Bank reserves. Net borrowed reserves of member banks averaged
$220 million in March compared with $360 million in February. Borrowings
at $635 million were at the lowest l e v e l , on a monthly average basis,
since the spring of 1959* Bet borrowed reserves were lower at reserve
c i t y banks and central reserve c i t y banks in Hew York in March than they
had been in February, but free reserves at country banks were about unchanged. Het borrowed reserves increased somewhat at central reserve
c i t y banks in Chicago, but t h i s i s usual in connection with the April 1
I l l i n o i s personal property tax date.
l / The special adjustment in the seasonal factor f o r demand deposits
adjusted for torch 30, i960, (described in the February i960 Bulletin,
page 135) has been changed from - 0 . 9 to -0.5 mainly t o r e f l e c t changed
pattern of deposit movements immediately preceding April 1 I l l i n o i s
personal property tax assessment date. The new factor for March 30,
I960, i s 97.9
'
Hot for publication
During March, on a daily average basis, reserves supplied
through Treasury operations and miscellaneous market factors were
about absorbed by currency outflow and a reduction in Reserve Bank
f l o a t . Federal Beserve System holdings of U. S. Government securities
were about unchanged as substantial purchases around the midmonth were
o f f s e t by subsequent reductions. Required reserves declined $150
million.
Note.—Data for assets and l i a b i l i t i e s for a l l commercial banks
for recent months have been revised somewhat on the basis of the a l l bank c a l l data for December 31, 1959* The revised data are used in t h i s
report. Loans and investments (adjusted t o exclude interbank loans)
totaled $189.5 b i l l i o n on December 31, 1959 compared with the $188.8
b i l l i o n previously shown in the G.7 Report for December 30. Part of
t h i s difference was due t o date variation. Part, however, was due t o
larger growth in credit at nonmember banks than previously had been
estimated. As a r e s u l t , the l e v e l s of t o t a l loans and investments at
a l l commercial banks were revised upward in a range of $100 to $300
million over the October 1959-February i960 period. Levels of U. S.
Government security holdings and other s e c u r i t i e s a l s o were revised
upward; loans were unaffected. The l e v e l of demand deposits adjusted
and currency outside banks was raised by $200 million for December 30,
1959, and by $400 million f o r January and February i960. Therefore,
the decline In the seasonally adjusted money supply in the year t o
date i s s l i g h t l y l e s s than previously indicated.
Hot for publication
Banking Section,
Division of Research and S t a t i s t i c s ,
Board of Governors of the Federal Reserve System.
April 18, I960
l.lt.3
Table 1
Estimated Changes in Loans and Investments at All Commercial Banks
(In b i l l i o n s of dollarsJ
Last Wednesday of Feb, t o l a s t Wednesday of March
1957
1956
1955
+ 1.1
+ l.lt
+ 0.9
+ 1.2
+ 2.1
+ 1.0
+ 1.0
+
+
+
+ 0.6
CM
•"0.3
HI
- ^.1
-K*
+ 0.1
+ 0.1
+ 0.2
1/
Sales finance companies
Business l e s s s a l e s finance
U. S. Government s e c u r i t i e s
r
-
2.0
y
Other securities
Total ( l e s s bank)
— 0.8
Business
Real estate
Security
Agricultural
Consumer
Nonbank financial
All other
Sales finance companies
Business l e s s sales finance
. + -o.i
V
+ 1.6
: + 0.2
m-0.1
+ 0.2
3/
+ 0.1
+
+
+
**
+
0.6
0.2
0.2
0*3
0.2
3/
+ 0.1
+ 0.2
+ 0.8
+ 0.1
+ 0.5
+ 0.3
+ 0.9
+ 0.2
+ l.lt
+ 0.1
+ o.5
-
2.3
+ 1.3
-
— 0*6
-
+ 0.2
+ 0.7
+ 0.2
, + 2.8
+ 0.3
-
0.8
1.1
y
2.6
+ 0.2
+ 1.4
— l.lt
Last Wednesday of Feb. to l a s t Wednesday of March
19$k
1953
1952
1951
1950
19li9
Item
Total loans ( l e s s bank)
1.0
0,2
0.1
0.2
0.2
H
1958
4
Business 2 /
Real estate
Security
Agricultural
Consumer
Nonbank financial
All other 2 /
19#
1
Total loans ( l e s s bank)
I960
+
item
+ 0.8
+ 1.0
+ 0.5
+ 0.9
+ 0.7
+ O.lt
+
+
+
+
+ 0.5
1/
+ 0.1
+ 0.2
+ 0.1
+ 0,1
+ 0.6
+ 0.1
— 0.1
+ 0.2
+ 0.3
*-0.1
.
+ ^0.1
0.3
0.1
0.1
0.3
% %
i
1/
+ 0.3
1/
+ 0.5
+ 0.1
+ 0.1
U. S» Government s e c u r i t i e s
-
-
-
Other securities
+ 0.1
2.3
l.ll
+ 0.2
0.2
+ 0.2
1
3/
• 0.1
+ -0.2
n.a®
n.a*
n* a#
n.a.
i/
n.a.
n.a*
n+a*
n.a.
n.a.
n.a.
n.a#
n.a.
-
0*3
-
1*3
-
+ 0.2
*
Oelt
+ 0.2
1.3
Total ( l e s s bank)
+ 0.6
- 0.2
- 1.5
+ 0.7
- 0,2
- 0.7
1/ Less than #$0 million.
n . a . Not available
2 / Data for I960 are on revised basis (beginning June 1959) and exclude loans to noribank
financial i n s t i t u t i o n s . For previous years, loans to sales finance companies at
weekly reporting banks have been shown separately to provide roughly comparable changes
in business loans on revised b a s i s .
3/
Included in business and "other loans".
http://fraser.stlouisfed.org/
ft/ Reserve
See above
data*
Federal
Bank of St.
Louis
L.lt.3
Table 1
Estimated Changes in Loans and Investments at All Commercial Banks
(In b i l l i o n s of dollars)
End of December to l a s t Wednesday of March 2 /
I960
1959 3 /
1958
1957
1956
1955
Item
Total loans ( l e s s bank)
Business h/
Real estate
Security
Agricultural
Consumer
Nonbank financial
All other h/
— 0.8
-
0.1
-
1.7
— 0.6
+ 1.3
+ 0.8
+
+
+
+
-
+
+
0.2
0.6
0.8
0.2
O.li
- 1.3
+ 0.1
+ 0.3
+
+
—
+
+
+
—
+
Sales finance companies
Business l e s s s a l e s finance
0.6
0.1
1.6
0.1
0.2
0.7
1/
f/
U. S. Government s e c u r i t i e s
-
it.7
Other s e c u r i t i e s
-
O.li
Total ( l e s s bank)
— 6.0
Business 5 /
Real estate
Security
Agricultural
Consumer
Nonbank financial
AH other 5 /
- -0.3
+ -0.1
5/
— 0.2
0.5
0.1
0.3
i/
+ 0.2
-
0.1
0.1
— 0.5
— 0.8
+ 0.1
+ 0.2
— 0.3
+ 1.6
+ 0.1
+ O.li
-
3.2
+ l.li
-
2.9
-
3.0
-
+ 1.0
+ 0.2
-
0.1
+ 047
+ 0.6
-
— 1.8
1/
-
3.3
— 0.6
+ O.li
+
+
-
•
-
0.5
0.1
0.6
0.8
0.3
3.1
0.2
+ 1.7
v
- 0.1
+ 0.1
- 0.3
+ 1.8
+ 0.3
— O.li
%
+ -0.1
0.2
0.5
1/
+ 0.6
- K.i
-
- -0.1
+ 0.1
n.a.
n.a.
-
0.2
0.3
— 0.1
+ 0.3
- 0.3
+ 0.2
U. S. Government s e c u r i t i e s
-
2.7
•
-
Other securities
+ O.li
Sales finance companies
Business l e s s sales finance
- "0.7
0.5
0.6
O.li
0.3
0.3
It. 8
-
3.3
End of December t o l a s t Wednesday of March 2 /
1951i
1953
1952
1951
1956
19li9
Item
Total loans ( l e s s bank)
y
+ 0.3
- O.li
1.3
O.li
2.8
+ 0.2
O.li
+ 0.3
-
3.2
+ 0.2
+ 0.6
+
+
+
-
-
0.3
1/
-o.li
0.1
0.1
0.2
y
n.a.
n.a.
n.a.
n. a.
n.a.
n.a.
n. a.
n.a.
%
1.2
+ 0.6
n.a.
n.a.
-
1.7
+ 0.1
Total ( l e s s bank)
- 3.0
- 2.3
- O.li
— l.li
1/
- 1.9
y Less than $50 million.
n.,a. Not Available
w uates are i o r uecemoer j i ,
3/ As a result of bank structure changes in January 1959 t o t a l credit increased over #2j00
million; t o t a l loans #3.00 million; U. S. Govt, s e c u r i t i e s , $100 million; and other
s e c u r i t i e s , $100 million.
k/ Beginning June 1959 data are on revised basis and exclude loans to nonbank financial
i n s t i t u t i o n s . For previous years, loans to sales finance companies at weekly reporting
banks
have been shown separately to provide roughly comparable changes in business
http://fraser.stlouisfed.org/
loans
5 / Included in business and "other loans". 6 / See above data.
Federal Reserve on
Bankrevised
of St. Louis basis.
Table 2
Changes i n Loans and Investments at Reporting and Nonreporting, Banks
"""""
(In b i l l i o n s of dollars)
'
~
Last Wednesday in Feb. to l a s t Wednesday in March
Item
I960
Weekly reporting banks
1959
1958
1957
1956
1955
1/
Total loans
V. S. Government s e c u r i t i e s
Other securities
Total loans and investments
+ 0.7
- 1.0
1/ ,
-
+
+
-
1.1
1.5
0.2
0.2
+
+
+
+
0.7
1.3
0.5
2.5
+
+
+
1.1
0.6
0.1
0.6
+ 1.7
- 0*3
2/ ,
+ l.it
+
+
-
0,9
1.9
0.1
0.9
+ 0.2
2/
+ 0.2
+ 0.3
+
+
-
0.1
o#5
0.1
0.3
+ O.lj.
- 0.3
2/
2/
+
+
-
0.1
0.7
0.1
0.5
Nonreporting banks 1 /
Total loans
tJ. S. Government securities
Other securities
Total loans and investments
-
0.5
+ 0.3
— 0.8
2/ ,
— 0.6
Last Wednesday in Feb. to l a s t Wednesday in March
Item
Weekly reporting banks
+ Q*h
- 1*0
1951
1953"
0.5
1.6
o.i
i*i
+ 0.7
— 0.8
+ 0.1
+
+
+
+
0.3
0.1
0.1
0.5
+
+
+
+
+
+,
-
+
+
+
0.2
0.3
0.1
0.1
+ 0.1*
" O.ii
+ 0.1
2/
1952
1951
1950
1919
1/
Total loans
U. S. Government s e c u r i t i e s
Other securities
Total loans and investments
+
+
-
0.5
0.1
0.1
0.7
+
•
—
0.3
1.0
0.3
O.lt
+
+
-
0.2
1.1
0.1
0.8
+
+
+
O.lj
0.3
0.1
0.2
+
+
+
0.2
0.2
0.1
0.1
Nonreporting banks 1 /
Total loans
U. S. Government
Other s e c u r i t i e s
Total loans and investments
+ 0.3
- 0.7
2/ .
- 0.4
1 / Beginning 1959 changes are on revised basis*
2/ Less than $50 million.
http://fraser.stlouisfed.org/
Not for publication
Federal Reserve Bank of St. Louis
0.3
0.6
0.1
0.2
- 8 -
Table 2
Changes i n Loans and Investments at Reporting and Nonreporting Banks
(In b i l l i o n s of dollars)
Last Wednesday in Dec, t o l a s t Wednesday in March
Item
I960
1959
1958
1956
1957
1955
Weekly reporting banks 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
-
1.2
3.0
0.2
4.3
+
-
O.li 3/+ O.h
1.7
0.2
Si!
1.7 3/-- 0 . 4
o.5
2.5
0.1
2.9
+
—
+
'+
+
1.7
1.7
0.8
6.8
+
-
0.9
1.5
0.1
2.3
+
-
1.0
2.1
2A
- 1.1
+
—
+.
-
0.5
li.O
0.I4
3.1
0.3
1.k
0.1
6.8
+
-
+
+
-
0.3
0.8
0.3
0.2
Nonreporting banks 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
&
+
+
"0.3
0.2
6.2
+
mm
0.3
0.9
0.1
0.7
Last Wednesday an Dec. t o l a s t Wednesday in March
Item
19Sh
1953
1952
1951
1950
19h9
Weekly reporting banks 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
+
*•
1.3
2.0
O.it
2.0
-
0.1
2.3
0.2
5.3
+
-
0.3
0.3
0.2
6.3
+
+
-
1.1
2.8
0.1
1.6
2/
- 1.1*
+ 0.5
- 0.9
—
+
-
0.5
1.2
0.2
1.6
0.6
0.1*
Oil
0.2
+
+
•
+
+
-
0.2
Nonreporting banks 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
+ 0.7
- 0.7
2/
— 0.2
0.5
2°f*
2/
+
•
-
0.1
0.1
Oil
0.1
+
+
0.6
0.2
Oil
0.9
0.5
Oil
0.3
1 / Beginning 1959 changes are on revised b a s i s ,
2 / Less than $50 million
3 / As a r e s u l t of bank structure change i n January 1959 t o t a l credit increased over
$1*00 million; t o t a l loans #300 million; U. S. Government S e c u r i t i e s , #100 million;
and other s e c u r i t i e s , $100 million
Table 3
Changes in Commercial and Industrial Loans 1 /
(In millions of dollars)
Business of Borrower
Food processors
Commodity dealers
Trade concerns
Total
Sales finance
Last Wednesday in February to l a s t Wednesday in March
1960
1959
1958
1956
1957
1955
1951
1953
-101
-185
+181
-105
y
- 1*6
+ 39
+ 93
+ 73
- 53
-111
+ 80
+ 8
+ 2*3
- 73
+107
+ 77
+235
+106
+292
+158
m
+1*30
+233
- 16
- 13
- 80
+ 91
- 83
- 58
-125
+ 72
-111
-129
+11*3
+ 98
+ 16
+ 15
n
+391
7133
+1*56
W
+ 79
- 1*2
-132
- 62
- 1*8
A l l other - t o t a l
Metals and products
T e x t i l e s , apparel
and leather
Petroleum, coal, etc,
Other manufacturing
and mining
Public u t i l i t i e s
Construction
All other types of
business
+ 81*
+ 2l*
+ 73
Classified
Unclassified
+702
+11*7
+781
+135
+1*83 +1,089 +1,371* +1*70
+297
+ 91
+ 52
+ 96 2/+19 3/+20
+1*21
+818
+916
+571
+1,11*1 +l,l*70g/+i*89 jy+317
+1*68
+818
+681
+1*68
+81*9 +1,312 2/+391 3/-301
+1*53
Total change
Total change excluding
sales finance
+101
- 13
+121
+ 37
+ 31
w
- 10
+ h9
- 6
*L 75
+ 81*
+111
+ 73
+ 87
+ 29
+ 88
+ 27
+ 92
- 20
+ 92
+ 90
+126
+ 1*9
-
9
+ 36
+105
+ 17
+ 1*9
+ 50
+ 57
+ 18
+
9
+ 8#
+
2
+11*5
+226
+ 3
+
8
+ 60
+ 21
+ 1*0
+ 1*3
+ 67
+ 21
+ 1*7
1/ Prior t o week ending January 11, 1956, included changes i n agricultural loans
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 t o have declined $60
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
$175 million.
h / Not included in business loans on revised b a s i s .
Note 1 C l a s s i f i e d data are f o r a sample of about 210 banks reporting changes in t h e i r
larger loans; these banks hold over 95 per cent of t o t a l commercial and
industrial loans of a l l weekly reporting banks and about 75 per cent of those
of a l l commercial banks•
ir
- 10 Table 3
Changes in Commercial and Industrial Loans 1 /
(In millions of dollars)
Business of Borrower
Food processors
Commodity dealers
Trade Concerns
Total
Sales finance
All other
total
Metals and products
Textiles, apparel
and leather
Petroleum, coal e t c .
Other manufacturing
and mining
Public u t i l i t i e s
Construction
All other types of
business
Classified
Unclassified
Total change
Total change excluding
sales finance
Last Wednesday i n December t o l a s t Wednesday in March
I960
1958
1959
1956
1955
1951 1953
19?7
19?2
-3h7
-268
-176
+ 92
-352
-&00
-215
-181
-796
-305
-253
-12li
-682
-190
-103
+ 96
-197
-279
—260
- 11
-550
-250
-21k
- 68
-532
-236
-301
+117
-120
-lt22
-333
-12k
-879
y
-12lt
-510
+136
-321
+105
-219
-106
-325
+31$
+825
-las
+172
-593
+1,182
+
l g | | 7 >667
+1,129
+9P
+7W
S i
+253
- h6
+129
- 77
- 2k
+150
+136
+ 53
+138
+20k
+192
+195
+ 89
- 75
+I51i
+ 37
+ 17
+192
+16U
- 37
+ 19
+ 95
-210
+ h
+109
-190
- lit
+112
+lko
- Ik
+21k
+30k
- 30
+ k3
+106
+ k
+ 2
+ 56
+ 10
+ 25
+ 31
+ 17
+ 55
+ W
- 97
- 15
-133
- 19
+ 12
+ 5
- 13
- 38
+586
- 25
-139
- 65
-989
-230
+280
-116
+1,119 +222
-677
+ 1 2/-b8 3/+6o
+ 1*9
-102
- 73
+ 18
+561
-203
-1,219
+161 +1,120 2/+17k 3/-617
- 53
- 55
+561
- 79
-709
+ 28
+ 53
+270
H I
+1,144 2/+ 69 3/-398
- 9
- 36
l/
?/
~
3/
f r i o r to week ending January 11, 1956 included changes in agricultural loans.
Includes CCC c e r t i f i c a t e s of interest which are estimated to have declined
$170 million.
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 to have increased
$175 million.
h / Not included in business loans on revised basis.
Note:
Classified data for a sample of about 210 banks reporting changes in their
larger loans, these banks hold over 95 per cent of t o t a l commercial and industrial
loans of a l l weekly reporting banks and about 75 per cent of those of a l l commercial banjos.
Not for publication
' L.iu3
11
Table it
Estimated Changes in Deposits and Currency
{In b i l l i o n s of dollars)
Item
Last Wednesday of Feb. to l a s t Wednesday in Mar.
I960
Seasonally adjusted data 1 /
demand deposits adjusted"*
Currency outside banks
Total
Seasonally unadjusted data 1 /
Demand deposits adjusted ~
Currency outside banks
Total
Time deposits
Commercial banks
Mutual savings banks
U. S. Government deposits
Total
Factors affecting deposits
and currency
Bank loans and investments
other than U. S. Govt, s e c . 3 /
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
h/+ 0.3
~+ 0.1
+
O.lt
-
1*7
+ 0.1
13
+ 1.0
+ 0.6
+ O.lt
- 0.1
- 0.6
1959
+
+
0.5
0.2
0.7
- 1.0
+ 0.2
+
+
+
-
0^
0.8
0.1;
0.3
0.6
0.7
1958
+ 0.1;
2/
1957
-
0o2
+ 0.1t
-
1L
0.2
-
**
1.0
A
+ 1.6
+ 1.2
+ 0.3
+ 2.2
+ 2.8
+
+
+
1*8
|
1956
1955
+ 0.6
+ 0.2
+ 0.6
+ 0.2
_2l_
- 1.2
0.8
r ^ 2
+ 0.5
+ 0.3
0*lt
+ 2.5
+ 1.7
i75
l.o
0.2
1.2
+ 0.2
2/
-
2;i
+
+
+
+
0.2
0.3
0.2
- 0.1
2.2
-
0.5
l.lt
(signs indicate e f f e c t on deposits and currency
+
+
-
1.0
0.2
1,9
+ 0.1
- 2.0
+ 0.1
+ -0.3
+
+
i;8
TT!
0.2
- 2.1
-
2.3
1/
-"O.lt
+
+
+
+
2.0
3 3
0.2
l.lt
07L
1.3
0.1
+ 0.2
+ 2.2
+ 2.1
+ 0.2
+
+
0.3
-
-
-
2.7
+ 1.7
+ l.lt
-
0.2
O.lt
0.9
+ 0.2
-
1.1
2/
ir
O.lt
O.lt
r
1.5
1.2
— 0.6
2/
- 2.6
2/
- -o.i
- "0.2
l / Seasonally adjusted data are for l a s t Wednesday throughout; unadjusted data are
for l a s t Wednesday except in case of June and December c a l l 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
r e l a t i v e l y small. In addition even i f there were no changes in these items,
changes at commercial and mutual savings banks would not add to t o t a l change which
i s "net" because commercial banks exclude a l l interbank loans, domestic and foreign.
k/ The special adjustment in the seasonal factor for demand deposits adjusted for
March 30, I960, (described in the February I960 Bulletin, page 135) has been
changed from - 0 . 9 to - 0 . 5 mainly to r e f l e c t changed pattern of deposit movements
immediately preceding April 1 I l l i n o i s personal property tax assessment date. The
new factor forMarch 30, I960, i s 97.9.
S
L.lw3
Table It
-12 -
Estimated Changes in Deposits and Currency
(In b i l l i o n s of dollars)
End of December to l a s t Wednesday of March
Item
Seasonally adjusted data 1 /
Demand deposits adjusted
Currency outside banks
Total
Seasonally unadjusted data 1 /
Demand deposits adjusted
Currency outside banks
Total
Time deposits
Commercial banks
Mutual savings banks
U. S. Government deposits
Total
Factors affecting deposits
and currency
~
Bank loans and investments
other than U. S. Govt. s e c . 3 /
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
I960
S A o.9
+ 0.2
- 0*7
+
+
+
-
6.6
1.3
7.9
O.lt
0.1
o.lt
0.6
0.1
195?
y
1958
1957
1956
+ l.lt
+ 0.1
+ 1.5
+ o.5
— 0.1
* o.lt
- 0.2
+ 0.2
2/
?/
-
+
+
+
*
-
—
+
+
+
-
—
+
+
+
-
5.2
0.8
6.0
1.2
0.9
0.3
0.5
5.5
5.7
0.9
6.6
3 .It
2.7
0.7
1.7
l.lt
6.2
0,9
7.1
2 .It
2.0
O.lt
0.2
w
2/
2/
+
+
+
+
-
5.5
i.i
6.6
0.9
O.lt
0.5
2.6
3.2
1955
+
W
2/'
+ 1.5
+
+
+
+
-
It.2
1.2
5:3
0.9
o.lt
0.6
0.2
it. 2
(signs indicate e f f e c t on deposits and currency)
- 1.6
- 0.2
+ 0.5
+ 0.3
— 6*2
-
- 1.2
-
1.3
It.7
2/
+ 0.1
-
O.lt
0.1 - 0.1
0.1
-
-
3.9
-
+ 0.1
3.2
Q.5
- 0.7
+ l.lt
2/
— 0.2
— 0.2
- 0.0
-
1.2
0.7
+ 0.8
— 1.8
-
0.3
-
li.7
+ 0.6
-
1.0
2.9
2/
+ 0.3
- O.b
+
+
1.6
TI?
0.7
+ 2.1
+
1.5
+ 0.6
— It.l
- 6.1
-
3.0
2/.
— lt.8
2/
+ 0.1
+ 0.1
- 0.3
- 1.2
— 0.8
1/ Seasonally adjusted data are for l a s t Wednesday throughout; unadjusted data are
for l a s t Wednesday except in case of June and December c a l l 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
r e l a t i v e l y small. In addition even i f there were no changes in other items,
changes at commercial and mutual savings banks would not add.to t o t a l change which
i s "net" because commercial banks exclude a l l interbank loans, domestic and foreign
k/ In January 1959, as a result of the addition of a l l banks in Alaska, time deposits
at commercial banks increased almost $100 million and demand deposits adjusted
increased about $100 million. As a result of the absorption of a mutual savings
bank, time deposits at commercial banks increased $300 million and those at mutual
savings banks declined $300 million.
£ / See note it on previous page.
Not f o r publication
— 13 —
Table 5
Free Reserves
(excess reserves minus member bank borrowings;
based on averages of daily figuresj in millions of dollars)
All
member
New York
Chicago
Reserve
city
-
— 16
1*
1
- 17
-
27
63
- 55
- 191*
366
1*22
1*21*
280
- 25
- 52
- 202
- 168
-
-
225
137
11*6
196
- 123
Country
Quarterly averages
1958:
First
Second
Third
Fourth
31b
508
314
25
1959:
First
Second
Third
Fourth
— 82
- 363
- 528
- 1*39
I960:
First
- 313
-
1959:
January
February
March
April
May
June
July
August
September
October
November
December
-
— 65
- 28
16
- 89
- 51
- 15
- 151*
- 225
- 227
- 210
- 181*
- 109
January
February
March
- 360
- 361
- 219
February 2l*
March
2
9
16
23
30
April
6
-
I960:
Note:
59
1*7
11*0
258
318
513
557
535
1*93
159
1*35
1*25
195
353
229
215
135
- 2kh
- 291
-
. -
-
10
18
28
a
1*6
-
-
67
56
1*2
83
53
26
122
6I4.
ia
63
1*7
35
hk
- 82
- 62
- 10lt
215
393
1*31
385
, -
223
195
228
281*
360
535
1*82
1*20
391
338
369
1*1*9
281
202
191*
178
133
101
121*
11*5
169
171
180
237
257
197
182
88
50
1
- 90
- 126
- 152
- 1*39
- 381
- 252
5
25
1*
7
18
3
19
- 95
- 88
- ho
- 129
— 256
- 197
- 120
-
225
1*1*1*
290
3l*2
Ill*
196
271*
Data for second half of March and April are preliminary#
http://fraser.stlouisfed.org/
Not for publication
Federal Reserve Bank of St. Louis
212
- 357
1
120
201*
105
262
216
11*5
85
— Ill —
Table 6
Changes in Member Bank Reserves, -with Relevant Factors
(Monthly average of daily figures; in millions of dollars)
January-March
March
Item
I960
I960
1959
Year ending Mar.
I960
1959
1959
Member bank reserves
Required reserves 1 /
E f f e c t of reduction in
requirements
E f f e c t of deposit change
Excess reserves 3 /
Total reserves held
Cash allowed as reserves
Reserve balances
-
Ili7
Effect of above
factors on reserves
11*9
-
—
-
Ili7
39
186
9
177
- 119
+
1
- 11*8
— II4.8
-
839
—
839
66
905
1*7
858
-
Itllt
-
357
131
—
—
— lillt
56
- 1*70
——
-
-
170
-
357
1*5
- 1*02
+ 257
- 659
-
131
170
301
-
-
301
637
[signs in<iicate ef: 'ect on n sserves)
Principal factors
Currency in circulation
Gold stock and foreign
accounts
Treasury operations
Federal Reserve f l o a t
Other factors
-
-
1*7
+
+
+
2
5b
32
£0
19
-
197
-
69
+1,117
+i,ia
-
1*01
-
+
36
1*2
7
1*
-
ISO
+ 92
+ 23
- 360
+ 2 66
+1,168
- 165
19
- 51*2
7h
+ 3hb
+
+
+
-
923
361*
112
308
51*0
-2,11*7
+ 80
+ 61
93
-2,736
+
5
-2,027
-
816
-
119
+2,1*31
86
- 103
+ 17
3
-1,726
-1,732
+
6
27
-
866
816
50
6
- 136
- 139
+
3
+1,960
+1,935
+ 25
7
+
+
-
+
+
m
12
+
-
+ 1*63
+ 18
Federal Reserve loans and
investments:
Total
U. S. Govt, s e c u r i t i e s
Outright
Repurchase agreements
Acceptances
Discounts and advances:
To member banks
To others
—
+
-
12
£8
16
h
181
l / Data for March I960 are preliminary.
Not for publication
93
1
271
3
31*
17
L.k.3
'
15
"
Table 7
ft
Loan - Deposit Ratios
All commercial
banks
Date
1953:
1954:
1955:
1956:
1957:
1958:
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
31
31
31
31
31
31
Jan. 28
Feb. 25
Mar. 25
Apr. 29
May 27
June 2k
July 29
Aug. 26
Sept.30
Oct. 28
Nov. 25
Dec. 31
I
I 9 6 0 : Jan. 27
Feb. 24
Mar. 30
1959:
*
li0.5
40.3
1:5.8
48.8
49.7
lt8.it
48.6
49.3
50.3
50.5
51.4
52.5
52.6
53.3
53.lt
53*6
51t.lt
51.0
51t.lt
55.6
56.5
Total
Itlil
ltO.7
46.7
50.1
51.0
lt9.lt
lt9.5
50.3
51.3
51.5
52.lt
53.6
53.7
51t.5
54.7
54.9
55.8
55.6
55.9
57.1
58.0
Member Banks
Central reserve d.ty Reserve
New York Chicago
city
50.6
46.8
39.1
38.3
46.3
52.7
55.2
49.4
57.7
58.2
58.7
59.0
65;5
65.3
48.3
48.7
51.9
50.5
51.8
54.4
54.0
55.6
57.2
69.5
67.3
58.2
56.7
61.7
61.9
57.7
60.0
62.2
62.6
66.6
67.4
69.4
69.4
56.6
56.2
58.2
62.7
64.5
42.2
41.9
48.5
52.7
53.3
51.3
51.5
52.7
53.8
53.8
55.1
56*1
56.5
57.1
57.6
57.5
58.4
58.2
58.9
60,4
61.4
Total loans (adjusted to exclude loans to banks) as per cent of t o t a l
deposits (adjusted to exclude cash items In process of collection)
Not for publication
Loan - Deposit Ratios 1 /
End of
December
2/
Member Banks
Central reserve c i t y
Reserve
New York Chicago
city
All
commercial
banks
member
banks
1896
1897
1898
1899
92.3
81.6
80.3
76 . 5
n.a.
n. a.
He 5Le
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.
1900
1901
1902
1903
1901;
77.1
76.3
77.6
79.8
76.7
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.
n.a.
1905
1906
1907
1908
1909
77.1
79.2
79.2
76.1
75.8
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.
n.a*
1910
1911
1912
1913
1911
78.6
75.8
75.7
77.li
76.3
n.a.
n.a.
n.a.
n.a.
77.lt
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*
1915
1916
1917
1918
1919
75.7
63.8
71.1
72.8
71.3
71.1
70.5
69.1
70.7
71*. 8
n.a.
n.a.
n.a.
n.a.
78.7
n.a.
n. a.
n.a.
n.a.
80.7
n*a.
n. a.
n.a*
n.a.
77.5
n.a.
n.a.
n.a*
n.a.
69.3
1920
1921
1922
1923
192k
81.1
81.5
73.7
73.3
68.5
83.3
77.lt
70.5
71.8
66.8
85.0
72.5
68.3
7l.lt
66.7
- 93.3
81.6
72.7
76.2
71.1
89.9
79.7
71.0
73.8
67.6
78.2
77.6
70.8
69.9
65.lt
1925
1926
1927
1928
1929
71.3
72.1*
70.5
72.2
75.0
70.2
71.0
69.2
71.6
7l».6
73.9
73.8
76.0
79.1
81.9
75.7
75.8
73.7
78.8
79.0
70.7
72.6
69.5
71.0
71.5
67.0
67.lt
All
1
Country
6k, 6
66.9
69.7
n . a . Not available
1 / Total loans (adjusted to exclude loans to banks) as per cent of t o t a l
deposits (adjusted to exclude cash items in process of c o l l e c t i o n . )
Prior to 1928 loans to banks are estimated throughout. Prior to 191+7,
loans to banks for a l l commercial banks are estimated.
2/ End of June 1896-1922 f o r a l l commercial banks
- 17 -
L.lt.3
Loan - Deposit Ratios 1 /
All
commercial
banks
68.8
65.5
56.5
50.7
39.0
35.0
3U.1
37.2
33.1
30.8
30.0
32.0
22.6
18.8
17.lt
18.0
23 . 3
27.7
All
member
banks
Member Banks
Central reserve c i t y
Reserve
New York Chicago
city
68.1
61.5
53.5
1*8.2
75.1
66.lt
37.2
36.7
33.lt
32.9
36.0
31.lt
29.3
28.5
30.8
21.6
18.5
17.lt
18.3
23.7
28.2
lt6.1
lt8.6
3li.7
35.5
37.3
19.6
31.6
2lt.3
19.7
20.1
22.2
2lt.7
17.3
19.1
19.0
26.2
19.8
27.7
31.0
36.1
37.6
39.9
12.5
lt6.3
U9.7
hd.b
5l,o
lt6.7
50.1
51.0
lt9.lt
55.6
32.2
20.2
35.8
37.2
39.3
ltS.8
32.5
23.3
31.1
2i5.8
36.2
36.7
32.9
31.5
35.9
3lt.9
lt0.7
19.3
23.lt
25.5
514.3
lt7.0
18.6
17.8
31.3
30.9
ltl.1
25.2
66.lt
6I4.6
28.lt
31.2
it0.5
h0.3
66.5
61.9
lt0.lt
35.1
5G.6
50.6
lt6.8
56.7
61.7
61.9
57.7
67.3
27.3
30.3
30.lt
25.6
32.3
36.2
38.9
39.1
38.3
lt6.3
52.7
55.2
19.1
58.2
Country
65.6
6^.1
60.9
51.9
11.3
36.it
33.5
36.3
35.lt
35.lt
3lt.O
35.9
3lt.7
18.7
17.1
16.7
13.9
18.2
26.0
13.1
18.9
23.lt
27.1
28.5
38.1
31.5
32.1
33.9
22.8
31.1'
33.lt
32.lt
39.lt
ltl.1
lt2.2
ltl.9
18.5
52.7
53.3
51.3
58.2
23.0
36.1
37.1
lt0.7
lt2.6
Ut.l
Mt.l'
18.2
n.a. Not available
1 / Total loans (adjusted to exclude loans to banks) as per cent of t o t a l
deposits (adjusted to exclude cash items in process of c o l l e c t i o n . )
Prior to 1928 loans to banks are estimated throughout. Prior t o 19hl,
loans to banks for a l l commercial banks are estimated.
DepositRmdCurrenl^
(In b i l l i o n s of dollars)
Year
or
month
End of Dec.
1953
195k
1955
1956
1957
1958
1959:
Jan. as y
Feb.
Mar. 25
Apr. 29 y
May 27
June 2lt
July 29
Aug. 26 5/
Sept, 30
Oct. 28 r
Nov. 25 r
Dec. 31 6 / r
1960i
Jan. 27P
Feb. 2UP
Mar. 30p
Seasonally
Seasonally adjusted
Total
Time deposits
adjusted
money supply 1 /
CurU. S.
deposits
money
Demand
rency
and
Gov't#
Cursupply
and
deposits
Demand
Postal
outside
Mutual
deposits
currency
CommerTotal
rency
Total
banks (5+6+10
savings savings
2/
(2+3) deposits outside time dep. adjusted (7+8+9) c i a l
at com'1
adjusted banks
+11)
banks(1+7)
126:6
99:3
103:1
106:1
107.1
105.8
110.7
27:3
26:9
2i :k
27.U
139:5
139:6
Ilt0:3
ao:u
iuo:6
lltO.9
ibi:2
Ut0.9
llt0.8
UtolU
lltO.l
111:5
111:6
112:1
112:2
112 :it
28:0
1U0.2
112.6
112.1
112:0
111.8
112.0
11*0.0
111.7
130:0
133:5
13U.5
133.6
138.8
139.1
139.5
112.6
112:9
110.8
111.1
27.8
28.1
2$;o
29:2
28:2
28:2
28.3
28.3
28.3
28.U
28 Ik
28.3
28.2
28.3
28.3
28.lt
2U:it
26:3
28:1
30.0
31:7
3U.0
2:U
2:1
1:9
1.6
1:3
1.1
it:8
89.1
98.3
to: 7
w:8
us;u
50.6
56:1
63.2
98:lt
98:7
99:5
99:9
100:5
101:1
100:8
101.2
101.5
101.1
100.3
101.8
63:14
63:7
6b:i
6it:5
65:0
65:it
65:3
65.5
65.7
65.5
61t.7
65.9
33:8
3u:o
3k:3
3k:3
3it:k
3it:6
3it:5
3lt.7
3U.8
3lt.6
3U.6
3U.9
1:1
1.1
1:1
1:1
1:1
1:1
1:0
1.0
1.0
1.0
1.0
0.9
5:3
5.0
k'.k
5:1
5:7
5:2
5:6
6.5
7.1
6.0
5.1
5.8
27:6
206:3
206.5
206.lt
206.5
205.9
20lt.8
206.1
113.8
KIM
110:3
112:5
no;?
110.7
112.7
111.1
ni.it
112.7
113.1
115.it
205.2
20b.5
lllt.o
110.5
101.0
101.2
102.2
65.2
3U.9
3U.9
35.3
0.9
0.9
0.9
lt.lt
5.3
5.2
27.9
170:3
176:8
181:9
185.1
189:7
102:5
202:9
202.0
203:3
20k:k
20lw9
205:6
205.5
106:6
109:9
lll.lt
110.3
115.5
108.8
70: It
75:3
78;lt
82.2
65.lt
66.0
5:1
k:k
it. 9
28:1
27:9
28:3
28:3
28.3
28.7
27:7
27:9
27:9
28:1
28:3
28:it
28.5
28.5
28.3
29.1
29.lt
28.0
28.1
205:7
21k:8
22i:0
226.lt
232.3
2lt7.5
2lt5:l
2lt2:7
2ll2:o
2it5:L
2it5:o
2lt5.lt
2lt7.6
2lt7.lt
2lt8.5
2lt8.2
2lt7.6
252.lt
2lt7.3
2ltlt.9
2UU.3
p PrmTiminary. ~y Seasonally adjusted s e r i e s begins i n 191t6 and i s available only for l a s t Wednesday of the month.
2j At commercial, savings, and Federal Reserve Banks.
As a r e s u l t of the addition of a l l banks i n Alaska, time
deposits at commercial banks increased almost $100 million and demand deposits adjusted increased about $100 m i l l i o n .
As a r e s u l t of the absorption of a mutual savings bank, time deposits at commercial banks increased $300 million and
those at mutual savings banks declined $300 m i l l i o n , kj As a r e s u l t of inclusion of a national bank i n Hawaii,
demand deposits adjusted increased about $100 m i l l i o n and time deposits at commercial banks about $100 m i l l i o n .
5 / As a r e s u l t of inclusion of a l l banks i n Hawaii, demand deposits adjusted increased about $200 million and time
deposits at commercial banks about $200 m i l l i o n . On balance i n 1959, as a result of structure changes, demand
deposits adjusted increased $U00 m i l l i o n , time deposits at commercial banks increased $700 million; and time deposits
at mutual savings banks declined $300 m i l l i o n . 6 / Demand deposits were reduced about $lt00 million as a r e s u l t of a
http://fraser.stlouisfed.org/
r
technical
under Regulation B amending the d e f i n i t i o n of such deposits.
Revised
Federal Reserve
Bank of St.change
Louis
Loans and Investments at i l l Commercial Banks
(In b i l l i o n s of dollars)
Loans
and
investments
Date
U. S. Other
Govt, secur- Total
secur- i t i e s loans
ities
Business Real Secuestate r i t y
Noribank
financial
All
ConFarm
sumer i n s t i t u - other
tions
1953:
195U:
1955$
1956:
1957:
Dec.
Dec.
Dec.
Dec.
Dec.
31
31
31
31
31
115.5
155.7
160.3
16U.5
169.3
63.lt
69.0
61.6
58.6
58.2
111. 7
16.3
16.7
16.3
17.9
67.lt
70.lt
82.0
89.7
93.2
27.2
26.9
33.2
38.7
Uo.5
16.7
I8.lt
20.8
22.5
23.1
3.6
U.5
5.0
It.3
It.2
5.0
5.2
lt.5
lt.2
lt.1
10.9
10.9
13.2
Ht.6
15.8
—
5.1
5.6
6.5
6.9
7.2
1958:
Nov.
Dec.
26
31
182.7
18U.U
67.7
66.U
20.3
20.6
91.7
97.5
39.3
U0.lt
25.0
25.3
3.9
It.7
It.9
15.7
15.9
—
7.9
8.2
183.8
181.9
181.1
183.8
183.9
18U.2
67.5
65.5
63.2
63.6
62.6
60.9
20.L
20.lt
20.6
20.9
20.8
20.6
95.9
96.0
97.lt
25.6
25.7
25.9
26.3
26.6
26.9
It.2
lt.0
100.5
102.8
39.2
39.2
U0.2
lt0.6
ltl.lt
lt2.5
18U.2
185.7
186.1
186.3
186.7
186.1
189.5
60.9
61.1
60.3
59.2
59.6
58.5
58.9
20.6
20.6
20.5
20.7
20.6
20.3
20.5
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.lt
lt0.2
26.9
27.1
27.3
27.7
27.9
28.1
lt.1
lt.1
185.6
I81i.3
183.5
58.0
56.2
5U.2
20.3
20.1
20.1
I07.lt
108.1
109.2
39.lt
39.8
ltO.8
28.1
28.2
28.2
3.9
1959:
1/ Jan.
Feb.
Mar.
2/ Apr.
May
June
28
25
25
29
27
2k
June 2k
July 29
2 / Aug. 26
Sept.30
Oct. 28r
Nov. 25r
Dec. 31r
I960:
Jan. 27p r
Feb. 2ltp r
Mar. 30p
99.3
27.5
3.9
It.3
lt.1
lt.1
lt.1
It.2
lt.2
lt.1
It.9
3.7
3.3
5.0
5:o
5.o
It.8
It.9
It.9
5.0
5.0
5.1
5.1
5.1
5.0
lt.9
5.0
lt.9
5.0
5.1
16.0
16.1
16.3
16.7
17.0
17.lt
17.lt
17.6
17.9
18.1
18.3
18.3
18.5
18.6
18.6
18.7
mammmm
<
s
a
B
«
e
cm rim mm
8.0
8;i
mm mm mm
mmmm mm
8.2
8;lt
8.6
8.9
5.9
6.2
6.6
6.5
6.0
6.2
7.1
6.1
6.2
6.It
7.7
7.8
8.0
8.3 •
8.5
8.5
8.5
8.U
8.5
8.5
v-r— million in January as a result of bank structure changes.
2/ Total credit increased about $200 million as a result of bank structure changes, r Revised
U Total credit increased about 8300 million as a result of bank structure changes. Structure changes in
1959, on balance through August, added almost $1 b i l l i o n to t o t a l credit; #6p0 million in loans ; #300
million in U, S. Government s e c u r i t i e s ; and #100 million i n other s e c u r i t i e s . Real estate loans
increased about #300 million; business loans #100 million; consumer loans, #100 million; and other loans,
#100 million. 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 f o r a l l dates. Other
data are partly estimated on a l l but June and December call dates. Beginning June 2k, 1959, "business
loanj^* and "all jrther loans^ have been revised t o e ^ u d e loansJp noribank j^iancial jj
http://fraser.stlouisfed.org/
i n s t -i tutions ,
Federal Reserve Bank of St. Louis
@FedFRASER