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L.4,3 Not for Publication X4 Fn BANKING AND MONETARY DEVELOPMENTS April 1977 Banking Section Division of Research and Statistics Board of Governors pf the Federal Reserve System 1 * I Table 1 Changes in Commercial Bank Credit, Money Stock and Time Deposits* Seasonally 1 1976 total bank credit^ s U.S. Govt* securities Year 1st half 2nd half l?t Qtr. 1976 2nd 3rd Qtr. Qtr, 1977 4th 1st. qtr. Qtr. Feb.p Mar.p Apr.p 7.5 7.7 7.0 6.9 8.3 5.9 7.9 11.5 14.8 10.6 14,0 22.0 38.5 *4.6 44.8 29.0 -1.3 10.6 23.9 57.4 23.8 -9.3 7.0 -3.6 3.6 7.5 6.5 -2.1 5.6 -8.0 28.2 13.0 9,6 13.4 14.5 Other securities 3.5 •• 1/ Loans- 6.3 5,0 7.4 3.9 6.1 6.8 7.9 2.3 -3.1 7.8 -7.0 .9 5.3 10.1 9.4 10.0 10.6 11.8 10.0 10.2 9.3 11.0 9.2 8.7 9,6 11.8 12.0 13.5 13.3 8.1 5.1 10.8 4.0 6.2 10.8 10.6 : Business loans Real estate loans Consumer loans • 9.9 9.8 13.4 n.a. $ adjusted for loans sold to selected affiliates 1 11 '• 7.7 6.7 6.7 8.5 5.5 7,9 11.5 14.5 10,7 13.9 Loans—/ 64 5.0 7.0 3.7 6.2 6.2 7.7 3-3,1 9.4 13,5 14,4 Business Loans 2.2 -2.7 7.2 -6.7 1.4 4.6 9,7 9.9 9,9 11.1 12.3 ^ ' s t 1 -T- - - • - - , —1'' — •••••• Money stock - 6-1 5.7 6.3 4.5 6,8 4.9 7.7 4,2 .8 6.1 19.7 Total time deposits 8.4 6.0 10.5 5.4 6.6 6.2 14.6 0.5 9.7 5.8 6.0 15.4 13.8 15.9 16.0 11.1 14.5 16.7 10,8 10,6 9.7 8.5 -18,8 -•11.9 —6.9 -8.7 -3.2 -7.1 .2 -1.1 -.6 Time other than CD's CD's (dollar change in billions) t 'I'"" 7.3 total bank credit—^ 1 I 11 -1.1 •2 n.a. - Not available. * Monetary aggregates revised to reflect benchmark adjustment to September 30, 1976, Call Report. s Table 2 Loans and Investments at All Commercial Banks (Seasonally Adjusted) Date Total-/ 1/ Loans— U.S. Gov't. Securities Other Securities (In billions of dollars) 1972- -December 1973- -December 1974- -December 1975- -December 31 31 o / y 31 31 1976--July August September October November December 28 25 29 27 24 31 1977--January February March April 26 23 30 27 558.0 633.4 690.4 721.1 378.9 449.0 500.2 496.9 62.6 54.5 50.4 79.4 116.5 129.9 139.8 144.8 p p p p p p 750.2 756.0 759.8 767.6 773.8 774.9 511.1 514.0 517.9 525.8 528.4 528.1 93.0 95.5 94.4 93.8 94.7 96.9 146.1 146.5 147.5 148.0 150.7 149.9 p p p p 780.5 790.1 797.1 806.4 535.0 539.3 545.3 551.9 96.1 100.7 102.7 101.9 149.4 150.1 149.1 152.6 \j Adjusted to exclude domestic commercial interbank loans. p - Preliminary 2J Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million, of which $500 million were in loans and $100 million in "other securities.1' 3/' Beginning October 31, 1974, as the result of the liquidation of one large bank total loans were reduced by $1.0 billion; business loans by $0.6 billion; real estate loans by $0.2 billion; nonbank financial loans by $0.2 billion; and "other securities" by $0.5 billion; however, business loans were increased and real estate loans were reduced by $0.1 billion as the result of loan classifications at one large mideastern bank. • # # ## # e ## Table 3 LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES Commercial bank credit (seasonally adjusted) Loans sold outright by commercial banks (outstanding in billions of dollars, N.S.A.) Date Total 1971—Dec. 1972—Dec. 1973—Dec. c if-/ 1974—Dec — 1975—Dec. 1976 July Aug. Sept. Oct. Nov. Dec. 1977 Jan. Feb. Mar. Apr. 4.5 4.4 Business Loans 2.0 Sold to , Sold to 2/ nonbank publicAffiliates Business Business Loans Total Loans Total 2.8 2.6 n.a. n.a. 2.0 2.9 n.a. n.a. 4.3 4.8 4.4 28 25 29 27 24 31 n.a. n.a. n. a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 4.5 4.0 3.9 3.8 3.8 3.8 26 23 30 27 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n. a. 4.0 3.4 4.0 4.0 6.1 1.6 Total Loans 3/ Original 3/ Adjusted- Business Loans Original 4/ Adjusted— n.a. n.a. 488.5 560.6 637.7 695.2 725.5 320.9 378.9 449.0 500.2 496.9 323.7 381.5 453.3 505.2 501.3 116.1 130.2 156.4 183.3 176.0 117.7 131.9 159.0 186.0 178.5 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 750.2 756.0 759.8 767.6 773.8 774.9 754.7 760.0 763.7 771.4 777.6 778.7 511.1 514.0 517.9 525.8 528.4 528.1 515.6 518.0 521.8 529.6 532.2 531.9 173.0 173.3 174.4 177.2 179.3 178.8 175.8 175.8 176.9 179.6 181.7 181.2 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 780.5 790.1. 797.1 806.4 784.5 794.0 801.1 810.4 535.0 539.3 545.3 551.9 539.0 543.2 549.3 555.9 179.9 181.4 183.0 184.8 182.5 184.0 185.7 187.6 2.6 2.7 2.5 2.8 2.8 Adjusted 485.7 558.0 633.4 690.4 721.1 1.8 1.8 2.6 2.6 2.7 Original 0.4 0.3 0.3 n.a. n.a. 1.7 1.7 2.5 2.5 2.4 2.4 2.4 Total loans and investments \j To bank holding companies, affiliates, subsidiaries, and foreign branches. Beginning August 28, 1974, loans sold outright to selected bank affiliates reflect a newly issued definition of the group of affiliates included as well as a somewhat different group of reporting banks. 2/ To other than banks' and bank-related affiliates or subsidiaries. 3/ Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. 4/ Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. 5/ Beginning June 30, 1974, data revised to include one large mutal savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans. 6/ Beginning October 31, 1974, as the result of the liquidation of one large bank, total loans and investmtnes were reduced by $1.5 billion; total loans by $1.0 billion; and business loans by $0.6 billion. However, as the result of loan reclassifications at another large bank, business loans were increased by $0.1 billion. 7/ Beginning March 31, 1976, as the result of loan reclassifications in Chicago City and in the San Francisco District, business loans were reduced by $1.2 billion. p — Preliminary. n.a. — Not available. Table 4 Loans at all Commercial Banks Seasonally Adjusted Business Real Estate Consumer Security Nonbank Financial Agriculture (Ir billions of dollars) 1971—Dec. 1972—Dec. ^3-Dec1974—Dec. 1975—Dec. 31 i / 2/ 31— — 31 116.1 130.2 156.4 183.3 176.0 1976—July Aug. Sept. Oct. Nov. Dec. 28 25 29 27 24 31 p p p p p p 173.0 173.3 174.4 177.2 179.3 178.8 143.2 143.9 145.2 146.3 147.4 148.7 93.1 93.8 94.7 95.4 96.0 97.2 14.5 15.9 14.9 16.7 15.8 15.3 26.5 25.7 25.4 26.2 26.0 25.4 22.0 22.3 22.8 23.1 23.3 23.6 1977——Jan. Feb. Mar. Apr. 26 23 30 27 p p p p 179.9 181.4 183.0 184.8 149.9 151.4 153.1 154.8 97.7 98.5 99.6 n.a. 17.1 17.3 17.7 18.3 26.1 26.0 26.5 26.0 23.8 24.0 24.4 24.9 1/ 2/ 3/ 81.4 98.1 117.7 130.2 134.4 60.9 71.8 83.4 87.0 89.9 10.8 14.7 12.2 11.4 12.3 15.9 22.1 28.9 33.3 28.0 12.7 14.5 17.5 18.4 20.4 n.a. - Not available. Beginning June 30, 1974, data revised to include one large mutual savings bank which converted to a nonmember commercial bank. Real estate loans were increased by $.5 billion. Beginning October 31, 1974, as the result of the liquidation of one large bank, business loans were reduced by $0.6 billion; real estate loans by $0.2 billion; and nonbank financial loans by $0.2 billion. However, business loans were increased and real estate loans were reduced by $0.1 billion as the result of loan reclassifications at one large mideastern bank. Beginning March 31, 1976, as the result of loan reclassification business loans were reduced by $1200 million, real estate loans increased by $800 million; and nonbank financial by $200 million. #e 31 31 ## # e t t • • •s H # # e e # # H # * Table 5 Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted (In billions of dollars) Item Mar. Aor. Mav June Julvp Aue. p Sept.p Or.t .p Nnv.p Tier .p .Tan . p Fph _p * Mar .p Anr .D Loans and Investments 2/ +5.5 +6.8 +3.7 +4.8 +1.4 +5,8 +3.8 +7.8 +6.2 +1.1 +5.6 +9.6 +7 .0 +9.3 U. S. Gov't, securities +3.8 +1.9 +2.9 . +1.6 -1.7 +2.5 -1.1 -.6 + .9 +2,2 — .8 +4.6 +2.0 —. 8 Other securities -1.1 +.8 +.1 +.4 +1.3 +.4 +1.0 +.5 +2.7 -.8 -.5 + .7 -1.0 +3.5 Loans 2/ +2.8 +4.1 +.7 +2.8 +1.8 +2.9 +3.9 +7.9 +2.6 -.3 +6.9 +4.3 +6.0 +6.6 Business -2.4 +. 1 +.4 -.1 +.9 +.3 +1.1 +2.8 +2.1 -.5 +1.1 +1.5 +1.6 +1.8 Real estate +1.3 +1.3 +1.1 +.8 +1.1 + .7 +1.3 +1.1 +1.1 +1.3 +1.2. +1.5 +1.7 +1.7 Consumer +.4 +.8 +.2 +.4 +.9 ' +.7 +.9 +.7 +.6 +1.2 +.5 +. 8 +1.1 Security n.a. +2.3 +. 1 +.3 V +.3 +1.4 -1.0 +1.8 -.9 -.5 +1.8 +.2 + .4 +.6 Nonbank financial -.5 -.2 -.9 -.7 -.3 -.8 -.3 +.8 -.2 -.6 +.7 -.1 + .5 -.5 Agriculture +.3 +.3 +.2 +.3 +.2 +.3 +.5 + .3 +.2 +.3 + .2 +.2 + .4 +.5 +1.4 +1.7 — .6 +2.1 . -1.3 +.3 +1.4 +.4 -.3 -1.5 +1'.4 +.2 +.3 n.a. All other 1_/ Less Than $50 million, 2/ Adjusted to exclude interbank loans. p - Preliminary. i1 . " Table 5A Changes in Loans and Investments at All Commercial BAnks, Seasonally Adjusted Adjusted for Loans Sold to Affiliates (In billions of dollars} 1976 Item Mar. Apr. Mav June Jul vp Aiig.p Sppf-p Orl-.p Nov .p DPP .p 1977 Tfln .p Fph.p ADT.D Mar p - Loans and Investments 2/ +5.2 +6.8 +3.9 +4.9 +1.4 +5.3 +3.7 +7.7 +6.2 +1.1 +5.8 +9.5 +7.1 +9.3 U. S. Gov't, securities +3.8 +1.9 +2.9 +1.6 -1.7 +2.5 -1.1 — .6 + .9 +2.2 - .8 +4.6 +2.0 -.8 Other securities —1.1 + .8 +. 1 +.4 +1.3 + .4 +1.0 +.5 +2.7 -.8 -.5 +.7 -1.0 +3.5 Loans 2/ +2.5 +4.1 +.9 +2.9 +1.8 +2.4 +3.8 +7.8 +2.6 -.3 +7.1 +4.2 +6.1 +6.6 -2.5 +. 1 + .5 1/ +.9 i/ +1.1 +2.7 +2.1 -.5 +1.3 +1.5 +1.7 +1.9 Business ' i i i I 1/ 2/ Less than $50 million. Adjusted to exclude interbank loans. p - Preliminary. ## ## ee ee ee ## i 1 | i i I Table 6 Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, Not Seasonally Adjusted Adjusted for Loans Sold Item Last Wednesdav of March tn Tarn t Wednesd av in Anr-f l 1977n All commercial banks—^ Total loans U. S. Gov't, securities Other securities Total +5.7 -1.6 +4.4 +8.5 All Large Banks —/ Total loans U. S. Gov't, securities Other securities Total +3.5 +2.8 Other banks —/ 2/ Total loans U. S. Gov't, securities Other securities Total +4.6 +.2 +.9 +5.7 +1.1 —1.8 1976r 1 +3.2 +.1 +1.8 +6.0 -2.1 -.5 +1.0 —1.6 +5.3 +1.5 +.8 +7.6 1974 1973 1972 1971 +.7 +4.0 +.8 +5.5 +10.5 —1.1 +1.3 +10.7 +7.1 — .8 + .8 +7.1 +4.5 —. 6 +1.2 +5.1 +1.9 —1.6 +2.7 +3.0 —2.1 -.7 -1.5 +6.3 -1.4 -.1 +4.8 +4.1 — .6 -.3 +3.2 +2.4 -1.0 + .1 +1.5 -.2 -1.5 +1.7 +2.8 +2.7 +1.5 +7.0 +4.2 +.3 +1.4 +5.9 +3.0 -.2 +1.1 +3.9 +2.6 +2.1 — .1 +1.3 +.3 +1.1 +4.0 1/ +1.0 +3.0 End of Decernber to en d of At>ril Item 197 7P 1976r All commercial banks 2/ Total loans U. S. Gov't, securities Other securities Total +8.7 +.1 +3.1 +11.9 -5.5 +6.3 —. 1 +.7 All Large Banks 2J' 3/ Total loans U. S. Gov't, securities Other securities Total -1.4 -2.8 +1.4 -2.8 Other banks ~ / Total loans U. S. Gov't, securities Other securities Total +10.1 +2.9 +1.7 +14.7 1975 1974 1973 -7.8 +15 .6 —1.9 +4.2 +17.9 +22.1 -6.6 +1.5 +17.0 +6.7 -3.1 +5.0 +8.6 —2.6 —1.7 +8.0 +3.8 -11.7 +.8 -.7 -11.6 -18.2 +4.5 -2.2 -15.9 +7.7 -2.4 +.4 +5.7 +13.3 -5.5 +6.6 +1.8 -2.8 +1.3 + .3 —5 »1 -2.1 +4.6 -2.5 +6.2 +5.5 +.6 +12.3 +.4 +4.3 +3.4 +8.1 +7.9 +.5 +3.8 +12.2 +8.8 -1.1 +2.7 +10.4 +4.9 —.3 +3.7 +5.3 +2.4 +.4 +3.5 +6.3 00 00 CM 1/ 2/ 1975 —1.2 1972 1971 Less than $50 million. Based on revised reporting beginning July 1969. Changes have been adjusted to maintain comparability of series. 2/ Based on revised coverage beginning July 1966 and January 1967-1977. NOTE: Data exclude all interbank loans; call report data for large banks used when available. Loans adjusted to include all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. Allowance has been made in monthly changes for all loan and security reclassifications. For description of reclassifications, see Tables 3 and 8. Table 7 Changes in Commercial and Industrial Loans at Large Commercial Banks (In millions of dollars) Late March to Late April 1/ Late December to Late April 2/ Business of borrower 1973 Food processors Commodity dealers Trade concerns Retail trade Wholesale trade Metals Primary metals Machinery Transportation equipment Other fabricated metals Textiles, apparel, etc. Petroleum Chemicals Other durable manufacturing Other nondurable manufacturing Mining Public Utilities, total Transportation Communication Other public utilities Construction All other types of business Bankers acceptances Services Other Foreign business concerns Classified Unclassified Total Change 1/ 2/ -39 -226 -261 186 75 511 320 85 113 97 7 88 151 47 33 323 15 139 169 184 287 -ITT 152 312 -127 1597 434 2,031 1974 1975 45 -237 554 • 315 239 710 21 • 409 175 105 122 -8 227 274 96 146 639 -4 253 390 137 296 -44 296 44 168 3169 673 3W Z -122 -84 -188 -13 -175 -64 52 90 -155 -51 -72 113 -143 17 -5 81 55 23 177 -145 -45 -288 -134 -227 73 127 -618 68 5W 1976 -111 -104 55 63 -8 -415 3U -216 -203 -26 30 118 -41 73 11 85 -222 -7 -42 -173 -62 -517 -178 -120 -219 280 -?37 -1057 1977p -41 -119 192 73 119 -63 -155 27 49 16 137 100 86 104 M -112 -36 -156 75 - 87 =IZT 113 -186 -88 456 •SIF 1973 174 -153 1329 866 463 1743 119 1174 70 380 554 225 835 700 251 364 921 108 340 473 407 1675 -407 884 1198 445 9470 1373 103# 1974 162 120 1555 860 695 2422 100 1365 588 369 694 -139 492 625 212 444 650 98 415 137 98 733 18 488 227 273 8341 1173 9514 1975 -1175 -719 -755 -124 -731 -574 105 -529 * -153 3 -199 58 -69 -3 5 -285 -158 -1390 -102 -129 -1159 -244 -632 448 -961 -119 184 -6433 -24 -6457 1976 1977D -652 -41 547 252 295 -1063 -21 -536 -354 -152 420 -20 - 84 -12 67 495 -1630 -227 -338 -1065 -974 -4854 -1786 -148 -2920 69 -7732 -729 —8461 -250 85 990 435 555 575 128 104 140 203 302 -239 215 211 146 242 -486 -117 -69 -300 116 -2976 -2916 101 -161 -404 -1473 149 s 'I'l Four most comparable weeks used through out. Changes are compiled from December 27, 1972; December 26, 1973; January 1, 1975; December 31, 1975; and December 29, 1976. These data cannot be linked with all commercial bank data which are always for December 31. #e •• ee e+ #e e# ## Table 8 Loans and Investments of All Commercial Banks (In billions of dollars) (Not seasonally adjusted) Loans and investments Date 1966—Dec. 1967—Dec. 1968—Dec. 1969—Dec. 1970—Dec. 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. 1975—Dec. 31 30 31 31;/ 31— 31—/—/ 31 324.oi/ 360.8 400.4 412.1 446.8 497.9 571.4 647.3 705.6 737.0 U.S. Gov't. 56.2 62.5 64.5 54.7 61.7 64.9 67.0 58.3 54.5 84.1 Other securities Total loans Business Real estate Security Farm Consumer Nonbank financial institutions All other 48.8-/ 61.5 71.5 71.3 86.1 104.7 117.1 130.6 140.5 145.5 219.0^-/ 236.8 264.4 286.1 299.0 328.3 387.3 458.5 510.7 507.4 80 .6 88,.4 98 .4 108,.4 112,.5 118,.5 132,.7 159 .4 186 .8 179 .4 53..9 58,.5 65, 70, 72,.5 81,.6 98,.4 118,.0 130,.6 134,.8 9.0 10.5 11.8 10.7 12.1 12.9 17.6 14.6 13.6 14.8 8 .6*/ 9 .3 9 .7 10 .3 11 .2 12,.5 14 .3 17 .3 . 18 .2 20 .2 38.3 40.6 46.3 51.0 53.6 61.2 72.1 83.7 87.3 90.3 13 .3 12 .5 13 15 :1A/ 15 .9 16 .9 23 .4 30 .5 35 .2 29 .6 15.3 16.9 19.3 20.6 21.2 24.7 28.8 35.0 38.8 38.4 > 1976—July 28p Aug. 25P . Sept •29p Oct. 27p Nov. 24p Dec. 31p 747.4 753.3 760.2 765.9 773.5 792.0 89.9 92.2 93.0 93.8 97.3 102.1 146.0 146.2 147.3 147.4 149.1 150.7 511.6 514.9 519.9 524.7 527.2 539.2 172,.7 172,.6 174..9 176..6 178.,6 182..2 143..2 144..3 145..9 147..2 148.,1 149. 1 14.1 15.5 14.6 16.4 15.8 18.3 22,.4 22,.7 23,.0 23,,1 23..1 23.,4 93.7 94.7 95.6 96.1 96.3 97.6 26,.7 26 .0 25,.6 25,.7 25,.4 26..9 38.8 39.1 40.3 39.6 39.9 41.7 1977—Jan. Feb. Mar. Apr. 778.8 783.8 795.2 803.7 100.2 101.7 103.8 102.2 148.5 149.2 149.4 153.8 530.1 532.9 542.0 547.7 177.,9 179. 6 182.,9 185. 0 149. 7 150. 6 152. 2 154. 0 16.8 17.0 17.6 17,2 23.,4 23.,6 24.,1 24. 8 97.2 97.4 98.3 n.a. 25.,5 25.,2 25.,5 25..5 39.6 39.5 41.4 26p 23 P 30p 27p n.a. - Not available p - Preliminary NOTE: Data exclude domestic interbank loans. Consumer and "other loans" were partly estimated for all dates. Other data are partly estimated on all but June and December call dates. 1/ Beginning June 9, 1966, $1.1 billion of balances accumulated for the payment of personal loans were deducted from time deposits and "all other" loans. 2/ Beginning June 30, 1966, about $1 billion of participation certificates previously included in agricultural and "all other" loans were reclassified as "other securities". 3/ Data revised beginning June 1969, to include all bank premises subsidiaries and other significant majority-owned domestic subsidiaries. 4/ 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. 5J Beginning June 1972, business loans were reduced by $400 million, nonbank financial institutions increased by $200 million, and "other" loans increased by $100 million as the result of loan reclassifications at one large bank. 6/ Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans and $100 in "other securities." 7/ Beginning October 31, 1974 as the result of the liquidation of one large bank, total loans were reduced by $1.0 billion; business by $0.6 billion; real estate loans by $0.2 billion;rnonbank financial loans by $0.2 billion; and "other securities" by $0.5 billion. However, business loans were increased and real estate loans reduced by $0.1 Billion as the result of loan reclassifications at one large mideastern bank. 8/ Beginning March 31, 1976, as the result of loan reclassifications business loans were reduced by $1200 million, real estate loans increased by $800 million; and nonbank financial by $200 million, and all other by $200 million. TABLE 9*-^ Ratios of Total Deposits L O A N S M e m b e r B a n k s Reserve City Banks All City New York commercial of City banks Total Chicago D A T E 1963 —Dec. 1964--Dec. 1965- -Dec. 1966 -Dec. 1967- -Dec. 1968- -Dec. 1969- -Dec. 1970- -Dec. 1971- -Dec. 1972- -Dec. 1973- —Dec. 1974- —Dec. 1975 -Dec. 58.6 67, 59. 63.3 62.1 60.5 61. 69, 65.0 64.4 65. 75, 63.7 70.2 68.7 83, 65.8 67. 70.2 77.0 63.8 65. 79. 70.8 68.1 83, 64.7 (63.7 66. (76.3) 75.1 69.1 102, (86.4) 89.5 72.0 (69.8 75. 79.5 (79.6: 80.6 87, 67.3 (66.2 69. 73.3 65.7 (65.6 68. (83.2) 78.1 84, 71.6 85, 67.9 (67.7 70. (84.0) 87.2 77.3 72.0 (71.8 75. 87. (86.4) 93.7 81.7 87. 72.9 (72.5 76. (85.8) 91.5 81.9 68.7 (68.3 71. 84. (81.6) 91.5 75.4 MEMBER BANK DATA NOW AVAILABLE ONLY ON CALL DATES 25 31 31 31 30 31*2/ 31*=' 31*3/ 31*2' 31* 31* 31* 31* 1976—Jan. 28*p Feb, 25*p Mar, 31*p Apr. 28*p May 26*p June 30*p July 28*p Aug. 25*p Sept.29*p Oct. 27*p Nov, 24*p Dec, 29*p 1977—Jan j Feb. Mar. Apr. 26 *p 23*p 30*p 27*p Other 69.7 69.8 68.7 70.0 70.3 69.4 70.2 70.7 70.6 70.7 70.3 69.6 1 70.0 70.1 70.2 70.8 (69.4j (69.5) (68.4) (69.7) (70.0) (69.lt (69.9)[ (70.4% (70.1* (70.2) (69.8) Country 53.8 56.0 57.9 59.2 58.2 58.2 62.8 60.2 59.2 60.1 53.9 64.6 61.5 1 82.7 (78.6) 87.9 76.8 62.7 ] * - Ratios in parentheses are those obtained by adding Euro-dollars to the deposit base 1/ Total loans (adjusted to exclude loans to banks) and total deposits (adjusted to exclude cash items in process of collection). 2/ 3/ 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. Loan data revised to exclude only loans to domestic commercial banks. Previous data had also excluded loans to foreign commercial banks. # e e # # e e ee e e ## ee Table 10 Money Stock Measures and Deposit Turnover (Seasonally adjusted; dollar amounts in billions)* M3 M 2 plus deposits M^ Currency plus demand deposits— m 2 M^ plus time dep. at comm. other than./ large CD's— at non- bank thrift institutions and credit union.. shares— Currency ,Components of money stock measures and related items Demand Deposits CD 's Time other than CD ' s Total time Nonbank thrift ,j institutions— U.S. Gov't. deposits (all member) Turnover outside N.Y. City (per cent) 1973—Dec. 270,.5 571.4 919.6 61,.5 209,.0 63 .0 300 .9 363.4 348.,1 5.0 75..8 1974—Dec. 283,.1 612.4 981.5 67,.8 215,.3 89,.0 329,.3 418.3 369.,1 3.5. 86,.6 1975—Dec. 294,.8 664.3 1092.9 73 .7 221,.0 82..1 369 .6 451.7 428., 2 3.0 84.,7 1976—July Aug. Sept. Oct. Nov. Dec. 305,.0 306..5 306,.9 310..5 310..6 312.,8 705.2 710.4 716.3 725.7 731.7 739.3 1168.8 1180.8 1193.9 1210.5 1222.8 1236.1 78,.1 78..6 79..2 79..8 80..3 80..6 226..9 227,.9 227,.7 230,.7 230.,3 232.,1 68..9 65,.0 63,.1 62..3 62..2 63..3 400,.1 403..9 409,.4 415,.2 421..2 426..5 469.0 46 8.9 472.5 477.5 48 3.4 489.8 46 3 .6 470..5 477,,6 484,,8 491. 0 496 .8 2.7 3.9 3.6 3.4 4.0 3.2 89..9 94..8 93 .9 89.,7 93..2 97 .0 1977—Jan. Feb. March April 314..3 314.,5 316. 1 321.3 745.0 749.1 754.2 762.4 1247.6 1256,6 1266.2 1279.3 81..3 82..0 82..4 83.3 233.,0 232.5 233. 7 238 .0 63..1 63.,3 62.,2 61 .6 430. 7 434.,5 438. 0 441 .1 493.8 497.8 500.2 502.7 502 .7 507. 6 512,.1 516 .9 2.7 2.5 2.8 3.6 94. 6 93 .8 97 .2 n.£i. 320.3 321.4 321.0 322.8 761.3 763.0 761.7 764.0 n.a. n.a. n.a. n.a. 83.2 82.8 83.2 83.6 237.1 238.6 237.8 239.2 62.4 61.6 61.3 61.2 441.1 441.6 440.7 441.3 503.5 503.2 502.0 502.5 n.a. n.a. n.a. n.a. 2.6 2.8 6.4 2.9 n.a. n.a. n.a. n.a. W&ek Ending: April 6 13 20 27 _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 deposit other than negotiable time certificates of deposit issued in denominations of $100,000 or more by large weekly reporting commercial banks. _3/ Includes M^, plus the average of the beginning and end of month deposits of mutual savings banks, savings and loan shares, and credit union shares. 4V Average of beginning and end of month deposits at mutual savings banks, savings and loan shares, and credit union shares. *Money supply aggregates have been revised to reflect Benchmarking to the September 30, 1976 Call Report. #4 Table 11-A Liquid Asset Holdings of Private Domestic Nonfinaneial Investors (Seasonally adjusted monthly averages; amounts in billions of dollars, ratios in per cent) Other Liquid Assets Currency and Deposits Commercial paper U.S. short.term marketable Treasury securities Savings bonds 9 10 11 Time Deposits Total liquid assets Total Demand Currency Demand deposits 1 2 3 4 5 1970—Dec. 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. 1975—Dec. 769.5 852.5 967.9 1079.5 1166.2 1289.7 632.4 718.7 817.0 887.4 944.5 1053.3 49.1 52.6 56.9 61.5 67.8 73.7 151.8 161.5 176.5 183.3 186.5 190.7 198.9 233.6 264.4 294.4 321.1 360.6 232.7 271.1 319.3 348.1 369.1 428.3 137.1 133.8 150.9 192.1 221.8 236.4 21.8 27.6 36.2 54.0 70.7 60.0 21.4 20.2 22.7 34.5 40.4 42.8 41.9 31.7 34.5 43.2 47.4 66.3 52.0 54.3 57.5 60.4 63.3 67.3 1976—Jan. Feb. Mar. Apr. May June July Aug. Sept Oct. Nov. Dec. 1300.1 1311.9 1321.1 1334.5 1344.9 1354.9 1368.8 1378.5 1388.2 1403.6 1413.8 1424.1 1064.9 107:8.7 108.7.8 1100.9 11:11.1 11.17.1 1129.1 1141.3 1153.2 1168.6 1179.3 1191.1 74.3 75.0 75.7 76.6 77.3 77.5 78.1 78.6 79.2 79. 8 80.3 80. 6 191.2 192.2 192. 3 194.6 195.9 194.7 195.6 196.3 195. 5 197.8 196.3 . 197.0 366. 0 372.6 37 5.9 380.6 383.9 386.7 391.8 395.9 401.0 406.2 411.8 416.6 433.4 438.9 443.9 449.1 454.0 458.2 463.6 470.5 477.6 48.4.8 491.0 496.8 235.2 233.2 233.3 233.6. 233.9 237.7 239.7 237.2 235.0 235.0 234. 6 213.1 56.9 54.3 52.8 51.3 49.6 51.2 50.3 46.7 45.3 44.8 44.4 45.0 43.5 43.6 43.9 44.8 46.1 47.4 48.2 48.8 49.2 49.4 49.4 49.5 67.2 67.B 68.3 68.9 69.1 69.7 71.4 71.4 69.7 69.6 69.3 66.6 67.6 68.0 68.3 68.7 69.0 69.4 * 69.7 70.2 70.8 71.1 71.5 71.9 1977—Jan. Feb. Mar. Apr. 1438.4 1451.9 1461.0 1475.2 12 04.1 1212.5 1221.8 1235.2 81.3 82.0 82.4 83.3 199.2 198.3 199. 3 203.9 421.0 424.8 4 28.1 431.1 502.6 507 .5 51.2.0 516.9" 234.3 239.4 239.2 240.0 44.3 44.7 43.3 42.6 50.1 51.1 52.3 53.1 67.6 71.0 70.6 71.0 72.3 72.7 73.0 73.4 Period NOTE: Commercial banks For description of items, and computation of ratios, see Table 11-C. Thrift institutions Total 6 7 Negotiable CD's 8 •• ee ## ## ## ee #e e# ee TABLE 11-B Period Currency and demand deposits to liquid assets 12 Bank liability to liquid assets 13 Time Deposits at thrift institutions to liquid assets 14 Liquid assets to GNP 15 48.4 49.6 49.3 49.3 49.6 47.4 46.2 30.2 31.8 33.0 32.3 31.6 33.2 34.9 75.7 76.7 78.0 78.8 80.3 81.0 80.5 20.0 19.7 19.2 18.4 17.7 17.2 16.1 80.1 80.3 80.6 81.0 80.9 n.a. 16.3 16.2 16.1 15.9 15.7 n.a. n.a. n.a. n.a. n.a. n.a. 1970—Dec. 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. 1975—Dec. 197 6 — D e c . 26.1 25.1 24.1 22.7 21.8 20.5 19.5 1976—Q1 Q2 Q3 Q4 1977—Q1 1976—July Aug. Sept. Oct. Nov. Dec. 20.3 20.1 19.8 19.5 19.3 20.0 19.9 19.8 19.8 19.6 19.5 47.0 46.7 46.2 46.2 45.9 46.6 46.4 46.2 46.2 46,1 46.2 33.6 33.8 34.4 34.9 35.0 33.9 34.1 34.4 34.5 34.7 34.9 1977—Jan. Feb. Mar. Apr. 19.5 19.3 19.3 19.5 46.2 46.0 45.9 45.9 34.9 35.0 35.0 35.0 . - XI • 3. • n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. Currency and demand deposits to GNP 16 n.a. n.a. n.a. n.a. TABLE 11-C Liquid Asset Holdings Sum of columns 2 and 7. Sum of columns* 3, 4, 5, and 6. Money stock components after deducting foreign holdings and holdings by domestic financial institutions. The three columns add to held by domestic nonfinancial sectors. Deposits at nonbank thrift institutions and credit unions, as published in money stock statistics. Sum of columns 8, 9, 10, and 11. Negotiable certificates of deposits over $100,000 at weekly reporting banks, except foreign holdings. Commercial paper held outside banks and other financial institutions. Short-term marketable U.S. Government securities excluding official, foreign, and financial institution holdings. All issues due in one year or less, including bonds and notes, plus a sliding proportion of issues due in 13 to 24 months. Series E and H savings bonds held by individuals. Sum of columns 3 and 4 to column 1. Column 6 to colum 1. Column 1 to GNP. Annual averages are based on 12-month averages of column 1 and annual GNP. Quarterly averages are based on 3-month averages of column 1 and quarterly GNP. Sum of columns 3 and 4 to GNP. Anriual averages are based on 12-month average of columns 3 and 4 and annual GNP. Quarterly averages are based on 3—month average of columns 3 and 4 quarterly GNP.
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