The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
L.4.3 BANKING AM) MONETABY DEVELOPMENTS IN APRIL 1961 Bank credit. Total credit at all commercial banks increased $1.6 billion in April with about two-thirds of the rise in holdings of U. S. Government securities. Generally credit rises substantially in this month when, as this year, Treasury cash financing occurs. Total loans increased $500 million, much less than in the comparable periods of the two past years but about the same as in 1955-58. In April 1954, loans had declined. Growth this year reflected a sharp expansion in security loans and moderate rises in most other loan categories offset in part by a reduction in business loans. Holdings of other securities increased only moderately further as continued purchases were offset in large part by the redemption of New York City tax anticipation notes as is usual at this time of year. Commercial banks initially acquired nearly- all the $1.5 billion Treasury tax anticipation bills of April 3. Sales of these and other Governments, however, were heavy early in the month, and total holdings of Governments increased only $400 million during the first half of the month. A substantial volume of securities was shifted from the 1-5 year category to more than 5 years in the advance refunding of March 30. During the second half of April weekly reporting banks in leading cities acquired an additional $600 million of U. S. Government securities; an $800 million increase in securities maturing within one year was offset in part by a decline in longer maturities. Holdings at nonweekly reporting banks were unchanged in the last half of April. So far this year, credit at all commercial banks has declined $1.3 billion, less than half as much as last year but about comparable with most other recent years. In early 1958, however, credit had increased sharply. The net decline this year reflected a much smaller-than-usual credit reduction in January and February followed by only a nominal credit rise over March and April. Usually in these two months credit rises fairly substantially. Total loans (exclusive of the Sears transaction) have dropped much more than in other years. At banks both in leading cities and outside, net loan repayments were unusually heavy early in the year while recent loan growth has been relatively small. Holdings of U. 8. Government securities have declined only slightly since December whereas ordinarily they drop sharply. Holdings of other securities have increased in near-record volume. Business loans at all commercial banks declined $400 million in April, about the same as in the recession years of 1954 and 1958; in other recent years, these loans have either declined less or increased. Since December 31, business loans at all commercial banks have declined $1 billion, of which almost $900 million was at weekly reporting banks. This was sli^itly less than in the comparable period of 1958 and slightly more than in 1954. In other recent years, business loans have increased in this period. M A Y 1 9 1961 w Research Library During April, reductions in loans to food processors and commodity dealers, which accounted for more than half the month's decline, appeared to be slightly larger than seasonal whereas earlier in the year they had been considerably less. Loans to metals manufacturers, which had increased less than usual earlier in the year, declined more than usual in April. Outstanding loans in this industry are now below the year-end level. Net repayments by public utilities have also been large recently. Loans to trade concerns declined contraseasonally in April; these loans had declined sharply early in the year and risen less than usual in February and March. Loans to nonbank financial institutions at all commercial banks declined $100 million further in April bringing the decline so far this year to $1.4 billion, a much larger drop than in any other recent year. Security loans increased $800 million in April, an unusually sharp rise. Loans to U. S. Government security dealers at city banks increased $260 million, reflecting expansion in dealer trading positions from the relatively low levels prevailing in late March. Brokers' loans increased about $325 million, principally in the week of the 19th when the A T & T rights expired. Loans to others than brokers and dealers against stock market collateral also rose in April. Beal estate loans at all commercial banks increased somewhat in April. These loans rose at city banks, the first monthly increase at this group of banks since last summer. Real estate loans at all commercial banks have increased moderately so far this year. Consumer loans at all commercial banks are estimated to have increased slightly in April. Repayments on the $1 billion Sears* borrowing of January 31 have now amounted to around $300 million. Exclusive of the Sears transaction, consumer loans have been about unchanged this year whereas in the comparable periods of 1958 and 1954 they declined somewhat. Deposit ratios. The ratio of total loans to total deposits at all commercial banks declined slightly in April to 55.6 per cent, but remains close to the level of the past three months. Ratios are somewhat above year-end i960 levels at all classes of banks except central reserve city banks in New York where they are only slightly lower. The ratio of U. S. Government securities maturing within one year to total deposits at all commercial banks declined in March (April data not yet available) to 8.1 per cent. This ratio had been increasing steadily since early summer i960. Money supply. The daily average money supply, seasonally adjusted, increased $300 million further between the second half of March and the second half of April (preliminary). In the previous month, it had increased $900 million. Since the low point in June last year, the money supply has been growing at an annual rate of 2-1/2 per cent. The end-of-month series increased $1.1 billion in April following a similar rise in March. Recent increases in the private money supply have been associated in part with a large contraseasonal reduction in U. S. Government deposits over the past two months. Not for publication Seasonally adjusted time deposits at all commercial banks increased $700 million further in April. So far this year, these deposits have increased $3.1 billion (about $2.7 billion, exclusive of time certificates issued to Sears), somewhat less than in the comparable four months of 1958. The annual rate of increase so far this year has been 11 per cent compared •with 15 per cent in the second half of i960. Deposit turnover. The seasonally adjusted annual rate of demand deposit turnover at banks outside New York and other financial centers declined from 26.1 per cent in March to 25.6 per cent (preliminary) in April. So far this year turnover has averaged slightly less than in the comparable period of i960. Bank reserves. Free reserves of member banks averaged $565 million in April, compared with $475 million in March. Excess reserves at $625 million were higher than a month earlier and borrowings at $60 million were lower. Free reserves increased at central reserve city banks in New York and at country banks. They were about unchanged at other banks. During April, on a daily average basis, reserves were supplied through increases in Reserve Bank float, Treasury and foreign operations, and reductions in nonmember and other F. B. accounts. Reserves were absorbed largely through a currency outflow and through reductions in System holdings of U. S. Government securities. Purchases of securities with longer maturities continued during the month but were more than offset by sales of short-term securities. The effective rate on Federal funds was generally 2 per cent or above in the first half of April. In the second half, when free reserves increased to over $650 million, the rate dropped and on several days was 1/2 per cent„ These low rates continued through the early days of May. Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. May 15, 1961 Not for publication L.U.3 Table 1 Estimated Changes in Loans and Investments at All Commercial Banks (In billions of dollars) Item ay of Mar* to last Wednesday last Wednesday 1960 W w w n n Total loans (less interbank) + 0.0 Business (excluding noribank financial or sales finance companies) 2/ =• O.lt Nonbank financial - 0.1 Sales finance companies y (Business (including nonbank financial or sales finance companies)) — o.5 Real estate + 0.1 Security + 0.8 Agricultural Consumer 6/KUl All other 2/ "+ 0.1 + 1.9 + O.lt + 0.6 + 0.3 3/ => o.5 =» 0.1 + 0.3 + 0.1 - 0^3 + o.i* + O.lt + O.lt *= 0.8 + 0.3 + O.lt + 0.2 + o.i + o.i U. S. Government securities + 1.0 + 1.6 + O.lt Other securities + 0.1 - 0.1 + 2.8 Total (less bank) Item Total loans (less interbank) Business (excluding nonbank financial or sales finance companies) 2/ Noribank financial ~~ Sales finance companies (Business (including noribank financial or sales finance companies)) Real estate Security Agricultural Consumer All other 2/ U. S. Government securities Other securities + 1.6 + 1.3 1/ + 0.2 y + 0.2 + 0.1 + o.lt + 0.1 - 0.1 + 0.3 + 0.1 + 0,8 y 3/ > 0.1 => 0.5 $ * 0.3 H/ + 0.2 - 0.1 + 0.2 « 0*1 « 0#1 > 0*2 + 3.2 + 0.2 + 0.2 + 1.8 + 0.3 + O.lt + 0.2 y + 2.7 + lt.1 + 2 ok + 0.2 Last Wednesday of Mar, to last Wednesda1 19% 2251 19% .2251. 0.6 + 0.6 + 0.3 + O.lt y + 0,1 • 0*ij. Apr.. 19% y - 0.2 = 0.6 Tl© St* n*a* 3/ 3/ 3/ t + 0.1 n.a. n.a. 0.2 «= o.5 = 0.1 0.6 - 0.1 = 0.3 0.2 + 0.1 + 0.1 0.1 + 0.1 + 0.2 0.2 0.6 «=> 0.2 + 0.2 -¥.i 0.5 0.1 + 0.1 •» 0.1 0.3 1/ + 0.1 * 0.3 0.1 0.1 + 0.1 + 0.2 0.1 - 0.1 •=» 0.5 $ + l.lt 1/ + l.lt - 1.6 0.6 + 0.1 + 0.1 + 0.1 + 1.1 0.2 1.3 " 0*3 "• 0*3 y + 0.2 + 2.0 Total (less bank) — 0.1 1/ Less than $50 million, n.a.—Not available. 2/ Data are on revised basis beginning June 1959 and exclude loans to noribank financial institutions. 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 basis. Included in business and "all other", k/ Included with nonbank financial. 5/ Total credit increased about $300 million as a result of structure changes; loans increased about $120 millionj Government securities about $60 million; and other securities about million. 6/ Includes about $100 million repayments on Sears transaction« Digitized for $20 FRASER L.U.3 Table 1 Estimated Changes in Loans and Investments at All Commercial Banks (In billions of dollars) Item Total loans (less interbank) Business (excluding noribank financial or sales finance companies) 2/ Nonbank financial Sales finance companies (Business (including noribank financial or sales finance companies)) Real estate SecurityAgricultural Consumer All other 2/ last Wednesday of Mar. to last Wednesday 5/19S9 w 3 # 313: i f H E + 0.5 = Oak °° 0 * 1 + 1.3 + 1.9 + Ooli + 0.6 + 0.6 y + 0.3 3/ = 0.5 == o.i 3/ + 0.3 + 0.2 w y + 0.1 " 0.3 ~ o»5 + 0.2 •= 0.8 + 0»8 O.lt + o.lt + 0*lt + O.lt + 0*1 0.1 0.1 = 0.1 + 0.1 > 0.1 # + 0.3 + 0.2 + 0,8 1/ + 0.2 - 0.1 + 0*1 0.3 0.3 + 0.2 U. S. Government securities + 1.0 + 1*6 + O.lt - 0.1 ™ 0.1 + 0.2 + 0.2 * 0.1 + 0.2 + 0.1 + 1.8 ™ O.lt + 3.2 Other securities + 0.1 - 0.1 + 0.3 * Ooli + 0.2 + 1.6 + 2.8 + 2.7 + It.l + 2olj Total (less bank) Item Total loans (less interbank) Business (excluding nonbank financial or sales finance companies) 2/ Noribank financial ™~ Sales finance companies (Business (including noribank financial or sales finance companies)) Real estate Security Agricultural Consumer All other 2/ U. S. Government securities Other securities y 6/+0.1 + Ook + 0.1 Last Wednesday of Mar, to last Wednesda' 19^ n s r 222L 19% .1251. + 0.6 + (5.2 0.2 0.2 0.2 0.5 0.3 <?Z Apr.* 19% •=> 0*5 + 0.3 O.lt 1/ i/ - 0.5 - 0.2 0.6 n 9 si© 3/ n.a. Tie &• 3/ n.a. $ + iii - o*5 = 0.1 + 0.1 1/ + 0.3 + 0*1 0.1 + 0.1 + 0.2 + l.lt + l . l t 1.6 i/ + 0.2 + 0.1 + 0*1 $ 0.6 <= 0.1 = 0.3 0.1 + 0.1 + 0.2 0.6 •= 0 . 2 + 0.2 + 0.1 - 0.1 0*1 0.1 + 0.1 0.1 + ¥a — 0.1 0.6 + 0.1 - 0.3 y = 0.3 + 0.2 = 0.1 + 2.0 + 1.1 Total (less bank) 0.2 1.3 Oil l/ Less than $50 million, n.a.—Not available. 2/ Data are on revised basis beginning June 1959 and exclude loans to nonbank financial institutions. 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 basis. 2/ Included in business and "all other", h/ Included with nonbank financial. £/ Total credit increased about $300 million as a result of structure changes; loans increased about $120 millionj Government securities about $60 million$ and other securities about million. 6/ Includes about $100 million repayments on Sears transaction» Digitized for $20 FRASER == ^ oa L.U.3 Table 1 Estimated Changes in Loans and Investments at All Commercial Banks (In billions of dollars) Item End of December to last Wednesday of April 1961 "l9&0" l?W 1957, 1956 Total loans (less interbank) - 2,0 Business (excluding noribank financial or sales finance companies) 2/ - 1.0 Nonbank financial ~ lei* Sales finance companies (Business (including nonbank financial or sales finance companies)) - 2,b Real estate + 0.2 Security - 0.2 Agricultural •+ O.Ji Consumer 6/+0.7 All other 2/ - 0.$ V + o.h * 1.8 - 1.3 + o.i + 1.9 + 0.7 - 0.3 + 0.2 h/ # = 1.3 3/ =• 0.8 + o.i 3/ + 0,2 + 1.9 3/ = n«3 + o.h + 0.2 -•2.1 + 0.3 - 1.0 = 0.1* + 0.8 + 1.6 + 0.6 — 0.6 - 0.1 - 0.2 + 0.2 + 0.2 + o.2 + 1.0 - 0.1 + 0.9 + 0.2 + 0.3 - 0.3 + 0.2 + 0.1 - 0,2 + 0.3 1/ + 0.2 - 1.1 = 3.4 + O.lt - 0.1 U« S, Government securities - 0.3 - 3.1 = 2.8 + b«6 Other securities + 0,9 - 0.5 + 0.3 + - 1 »3 " 3.3 ° 0,6 ..t ,4,7 Total (less bank) Item Total loans (less interbank) Business (excluding nonbank financial or sales finance companies) 2/ Nonbank financial "" Sales finance companies (Business (including noribank financial or sales finance companies)) Real estate Security Agricultural Consumer All other 2/ l»b + 0.5 = 1.6 Erid of December to las Wednesday of April 3SE I S 231 1952 .12SL 1 9 % + l.li « lol + 0.7 + 0.2 + O.lt = 0*8 => 0ol = Ooit 1/ + 0.3 3/ - 0.2 -^3 — 1.0 - 0.1 0.8 + 0.2 + 0.3 0.2 =» 0.6 a 0.5 0.8 + 0.5 =• o.i 0,7 0.6 0.3 - 0.3 + 0.9 + 0.2 U. S. Government securities 3.h 1.3 = h*h Other securities 0.7 0.5 + 0.3 0.7 0.2 0.3 0.1 0.2 1.0 + 0,1 + 1.7 R«3.o y Ho sio 1.7 0.1 0.6 0.1 ¥.2 * 0*6 n«eio 3/ 0.3 0.6 0.3 0.2 0.3 0.1 3.5 1.5 + 0.2 + 0.8 Total (less bank) 1.2 1.9 . . 1.7 3.6 . 0.6 1/ Less than $50 million, n.a,—Not available^ 2/ Data are on revised basis -1L. beginning June 1959 and exclude loans to nonbank financial institutions. 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 basis. 3/ included in business and "all other", k/ Included with nonbank financial. 5/ As a result of bank structure changes in Janulry and April 1959 total credit increased over $600 millionj total loans $1*00 millionj U. S, Government securities $200 million: and other securities # 0 0 million. 6/ Includes about $700 million net increase due to Sears transaction. "~ L 6 *• Table 2 «h«3 Changes in leans sad Investments at Weekly Reporting Menber Batiks and If onre porting Banks — ( & suhobs 5 d o i i M * y — Last Wednesday : in March to last Wednesday in April Item e 1961 Weekly reporting banks # I960 1958 1959 1957 1956 1/ Total loans U, S. Government securities Other securities Total loans and investments + + + + 0.1 0.8 0.1 1.0 + + + 0.6 1.5 0.1 2,0 + + + 0.9 0.1 0.2 1.0 + ¥.u + 0,2 + 2.7 + + + + 0,2 0,8 0.1 1.1 + O.b + o.it + - 0.3 0.5 0.1 0.3 Sonr^gorting banks 1/ e e Total loans U. S. Government securities Other securities Total loans and investments + 0.7 + 0,1 + i.o y + 0.53/ T-& + 0.8 m + 0,8 + 0,2 t y x + 1.0 * 0.1 "13 + 0.3 + 0,1 + 0,1 + o,5 Last Wednesday in March to last Wednesday in April Item 1955 Weekly reporting banks • + Q.b + 0.2 1951* 1953 1952 1951 1950 2/ — 0,5 2/ = O.it - 0.2 - 0,1 2/ - 0.3 2/ - 0.2 + 0,1 ~27" + » + + + 0.2 - 0.2 -¥.1 1/ Total loans U. S, Government securities Other securities Total loans and investments + O.it + 1.1 - 0.1 "+ l.L - 0,6 + 1.3 + 0.1 -Y.h + 0.1 + 0.1 + 0.3 =» 0,2 TTO Nonreporting banks 1/ • Total loans U. S. Government Other securities Total loans and investments + + + + 0.2 0.3 0.1 0.6 + 0,3 n r 0.1* 0.1 0,1 0.2 " T " + 0.1 - 0.1 excluded from this tabulation* 2/ Less than $50 million, U Af_a result of bank structure changes, in April, total credit increased about $200 million; total loans about $120 million; Government securities about $60 million and other securities about $20 million. ^ Not for publication - 7 L.U.3 Table 2 Changes In Loans and Investments at Weekly Reporting Menfcer Baakg and Billions of do!3 Last Wednesday in December to last Wednesday in April Item 1/1961 Weekly reporting banks k/1960 1959 1958 1957 1956 1/ Total loans U. S. Government securities Other securities Total loans and investments - 2.0 • 0.2 + 0.8 - 1.5 — - 0.8 1.7 0.2 6.-f + - 1.2 1.1* 0.3 0.6 + 0.1* - 2.6 + 0.3 « 1.9 1.7 it.l 1.0 3.4 + - 0.7 0.7 0.2 1.2 + 1.2 — 2.6 2/ - 1.1* + O.li + 0.5 + O.it +~I7? + — + + 0.8 Oel* 0.2 o.5 + 0.7 — 0.8 - 0.1 T 9 3 + + + Notir^iorting banks 1/ Total loans U. S. Government securities Other securities Total loans and investments ¥.1 - + 0.1 + 0.2 % Last Wednesday in December to last Wednesday in April Item 1955 Weekly reporting banks t 1951 1953 - 1.9— 0.6 + 0.5 - 2.0 «• 0.1 - 3.7 + 0.2 - 3.6 + 0.8 - 0.7 + 0.8 - 0.7 + 0.1 1952 1951 195b 1/ Total loans U. S. Government securities Other securities Total loans and investments + + - 0.8 2.9 0.1* 1.7 0.3 0.8 0.3 0.7 + + : 0.9 2.9 0.1 1:9 + o.5 + + + 0.8 0.6 0.1 0.2 + - + 0.6 Nonreporting banks 1/ Total loans U. S. Government Other securities Total loans and investments + 0.6 — o*5 + 0.3 • V V H — 0.2 + 0.1 + 0.1 + 0.6 + K 0.2 v/ucwigco <axx5 vii x Of -LDOLi UdoiQj vflclligco IJiaj HOv C02737©SpOIlCL exactly WITH. published data for weekly reporting banks because loans to foreign banks have been excluded from this tabulation. Less than $50 million. As a result of bank structure changes in January and April 1959, total credit increased over $600 million; total loans $1*00 million; Government securities $200 million; and other securities, $100 million. Call report data for December 31, 1959, and December 31, I960, have been used. http://fraser.stlouisfed.org/ Not for publication Federal Reserve Bank of St. Louis 'L.U.3 - 8 - Table 3 Changes in Commercial and Industrial Loans 1/2/ ' Iin millions of dollars) ~— Last Wednesday in March to last Wednesday in April Business of Borrower Food processors Commodity dealers Trade concerns Total 1961 I960 - 136 - 170 - 89 + 102 ^137 - 12l* - V y Sales finance Metals and products Textiles, apparel and leather Petroleum, coal etc. Other manufacturing and mining Public utilities Construction All other types of business 1*6 1959 1958 - 106 - US + 126 — 2 ^ - 152 + 10 rnj2 + 2l* 1957 - 7h + 61* - 93 - 182 + - 92 1*1 + 198 - 87 - - 135 1 57 - 6 + 76 + 29 23 39 i* - 118 L18 + 28 18 + — + 16 8 27 + 9 75 15 21 + 18 + 3U 1*8 50 + 100 - 152 - 1*15 - 165 98 5/- 52 6/-580 57 5/-250 6/-569 - 17 - 272 - 19 + 7k + 38 11 + - 9 22 - + + 29 + 12 - 133 + 5 + + Ii5 63 21 + + 9 77 + + 39 + 18 6 11 16 + + 16 16 - 56 - 18 Classified Unclassified + - 560 - 173 + 91 - 68 + 103 - 690 + 22 - 27 57 Total change - 1*67 - 82 + 35 - 668 - 81* Total change excluding sales finance - 1*6? - 82 11 - 1*86 - 176. 90 - 130 - 109 - 179 30 28 77 195L - 11*7 - 88 +' 7 T"22B - 58 1*6 1955 55 80 91 1*1* 83 - 189 Ill 1956 3/ + - + + + + + 60 1*3 11 1/ Prior to week ending January 11, 1956, includes changes in agricultural loans. 2/ At weekly reporting banks. _ 3/ For 1961, dates are March 29-April 26. Comparable four week periods have been used throughout. Therefore, these data may be on a different time basis than those shown on Table I. 1*/ Not included in business loans on revised basis. 5/ Includes COG certificates of interest which are estimated to have declined $129 million. 0/ Includes CCC certificates of interest which are estimated to have declined $50 million. • Not for publication L.l}.3 - 9 - Table 3 Changes in Commercial and Industrial Loans 1/ 2/ . (In millions of dollars) ™" — Last Wednesday in December to last Wednesday m April Business of Borrower 1961 Food processors Commodity dealers Trade concerns Total - Sales finance Metals and products Textiles, apparel and leather Petroleum, coal etc. Other manufacturing and mining Public utilities Construction All other types of business W 11*6 207 760 I960 - 517 - 507 + 271* 1959 + - 395 227 217 1*05 1958 - 1957 1956 2221 1951* 577 237 157 971 - 379 - 336 60 - 21*6 - 183 + 186 -~2l*3 - 1*09 - 369 + 1*9 - 729 - 397 - 302 - 60 ^~7E>9 m 5/ + ll* - 778 + 227 - 280 + 301* - 230 9b + 758 + 536 + 1 + 51*2 + 913 + - 11*8 + 137 + 138 + 215 - 36 + 11*1 - 105 + - 91* 81* + 11*3 + 82 + 139 + 261 + 185 + 271 + - 60 52 + 101 — 21*8 + 209 - 100 + 76 - 131 + 2 + 123 + 101 *» + 232 + 187 » 2 + + + 59 98 3i + 7 19 25 - - 151 - + 30 + 38 5/ - 72 + 1*0 + ill - 1*18 + 22 + 289 + 78 - Classified Unclassified - 1*58 + 16 + 1*13 + 60 - 181 + 8 -1,875 + 2^3 - 198 - 173 +1,167 + 322 + 51 - 200 Total change 6/-1*1*2 + 1*73 - 173 -2,073 + +1,218 y+ 122 l/-l,198 Total change excluding sales finance 6/—1*1*2 + 1*73 187 - 21 77 85 -1,295 1*0 80 11*7 1*0 +1,1*98 182 -1,092 - 106 968 1/ Prior to week ending January 11, 1956, includes changes in agricultural loans. 2/ At weekly reporting banks. # 3/ Includes CCC certificates of interest which are estimated to have declined $301 million. E/ Includes CCC certificates of interest which are estimated to have increased $125 million, 5/ Not included in business loans on revised basis. Z/ Business loans increased $1*00 million between December 28 and December 31; therefore these changes are not strictly comparable with those on Table I which are from December 31« # Not for publication 10 • L. h. 3 Table h Estimated Changes in Deposits and Currency (In billions of dollars) Item Seasonally adjusted data 1/ Demand deposit component Currency component Total # # # % 0 Seasonally adjusted data 2/ Demand deposits adjusted Currency outside banks Total Seasonally unadjusted data 2/ 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. sec. V Commercial ~~ Mutual savings Bank holdings of U. S. Govt, securities: Federal Reserve Commercial Mutual saving and other Gold stock and foreign deposits at F. R. Banks Other factors 1961 | I960 Last half o 1959 5/ 1 1958 1957 March to last ha f of Apr: 0.2 + 0.3 3/ + 0.3 1956 -la 3/ 03. %"03 Last Wednesday of March to last Weenes3ay"o:^AprU 1.2 0.1 Ta * oa => 0.2 + 0.1 + 0.6 + 0.2 oa t-lv - 0.1 - 0.2 + 2.7 + 2.6 + 0.2 + 2.1 + 0.9 T o 3 + oa + 0.2 + 1.1 + 0.3 + 0.3 + 3.3 + Ool - 2.1 + oa =* 0.1 + Ool T 2 3 + 2.8 (signs indicate effect - 3.7 + 0.8 7 3 3 + o.h + 0.6 %"o3 + 1,0 oa + 0.6 + 1.5 * 1.2 + 0.1 + + + - 1.8 0.2 1.6 0.2 «• o@5 ° Qoh T 5 3 + 1.7 ° 0.2 + .1.5 + 0.1 - 2.0 - O.Ji rency) + oa + 1.8 + 2oh + 2.1 + 0.2 + loO + 0.1 + 0.3 ° 0.2 + 0.2 + 3.1 + 0.2 + 3.2 + o.it •y •- oa + 1.6 + 1.0 "nsTE + 0.2 + 1.7 Ton + 1.8 =» 0.2 + 0.5 + 0.9 + 0.6 + 0.2 - 0.9 - o.u - o.U ~ oa = 0o5 = Oelj. V Averages of daily figures. „ v _ „ „„„,„aay throughout} unadjusted data are for last Wednesday except in case of June and December call dates, when available. 3/ Less than $50 million, h/ Total includes foreign loans on gold, holdings of bankers' acceptances at the Federal Reserve, and loans to foreign banks; changes in these items are generally relatively small. Even if there were no changes in other items, changes at commercial banks exclude all interbank loans, domestic and foreign, while total loans exclude only those to domestic banks. In addition there is some lack of synchronization in reporting asset and liability items - 11 L. It. 3 Table it Estimated Changes in Deposits and Currency (In billions of dollars) Item Seasonally adjusted data 1/ Demand deposit component Currency component Total Seasonally adjusted data 2/ demand deposits adjusted Currency outside banks Total Seasonally unadjusted data 2/ 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. sec. it/ Commercial "~ Mutual savings Bank holdings of U. S. Govt, securities: Federal Reserve Commercial Mutual saving and other Gold stock and foreign deposits at F. R. Banks Other factors 1961 1960 + 1.8 -1.0 + 0.1 =-o3 1959 5/ 1958 1957 1956 •Last half of December o last half of April + 0.9 + 0.2 +~T72 + 1.1 3/ T & + 0.7 + 0.1 To3 Bhd of December to last Wednesday of April + 2.3 0.8 -A - 1.5 - 1*5 -3.0 + it.3 + 3.6 - 3.9 + + + - 0.5 0.3 0.3 o«5 +1.5 + 0.1 - 3.0 — 0.8 +1.1 + 0.1 TY3 - 3«1 ^ 3 3 - 0.1 + 0.2 To3 - 0.9 + 1.6 +T3 + 0.3 + 0.3 - 0.2 ToX — 3.8 - 1.3 3XT + 0.9 + 2.3 + 0.8 + O.h + 0.6 - 3.9 + 0.2 + 1.3 + 0.2 + 0.6 rrn T%r " 3.6 (signs indicate effect on deposits and currency) + 0.8 - 0.1* + 0.7 - 0.1 - 0.1 + 0.6 + - 1.2 1.2 0.3 0.2 - O.it - 0.5 lt.it 1.2 3.1 0.2 + 0.1 - 1.0 + 2.2 + 2.0 + 0.5 + 1.1 +~oIT + 1.0 — 2,8 + 0.1 H i + it.6 — 0.1 - 0.2 - 0.7 - 0.7 - 2.2 + 0.9 T-03 + 0*8 + 0.9 - 3.0 - 1.7 - 1.1 -0.1 - 5.0 rx^ - 3.1 3/ + 0.3 - 0,3 + 0.1 - 1.2 -—o— ,7 v*7 w -u.juvi.a4.ij, " m u o w u uaua ax-e iuf l a m weonesaay throughout} unadjusted data are for last Wednesday except in case of June and December call dates, when available. 3/ Less than $50 million, it/ Total includes foreign loans on gold, holdings of bankers1 acceptances at the Federal Reserve, and loans to foreign banks; changes in these items are generally relatively small. Even if there were no changes in other items, changes at commercial banks exclude all interbank loans, domestic and foreign, while total loans exclude only those to domestic banks. In addition there is some lack of synchronization in reporting asset and liability items used in computing "loans net." 5/ In January and April 1959, as a result of bank structure changes demand deposits adjusted at commercial banks increased $200 million and time deposits $500 million. Deposits at mutual savings banks declined $300 million. . L.U.3 Table 5 Ratios to Total Deposits 1/ L 0 AN S Date JH - commercial banks Member banks central reserve city keserve Total Country "ftew York Chicago city 191*6: 191*7* 191*8: 191*9: 1950: 1951: 1952$ 1953: 1951*: 1955: 1956: 1957: 1958: Dec. 31 Dec, 31 Dec, 31 Dec. 31 Dec® 31 Dec. 31 Dec® 31 Dec. 31 Dec, 31 Dec* 31 Dec, 31 Dec, 31 Dec, 31 1*8,1* 23.7 28.2 31.3 30.9 36.1 37.6 39«9 1*1.1 1*0,7 1*6.7 50.1 51.0 1*9.1* 1959: Oct. 28 Nov. 25 Dec. 31 53.6 51*.1* 51*«0 51*»9 55.8 55.6 Jan. 27 Feb , 21* Mar, 30 Apr* 27 May 25 June 29 July 27 Aug® 31 Sept.28 Oct. 26 Nov. 30 Dec, 31 51*.l* 55.6 56.1* 56.2 56.8 57.1 56.3 55.3 55.1* 55.1 55.9 57.1 58.0 57,7 58:3 58,5 57,5 58.0 57.6 56.7 56.8 56,5 51*. 5 55,5 55,8 55*6 55,8 56,8 57,2 56.9 I960; •1961: Jan. 25p Mar. lp Mar, 29p Apr, 26p 23«3 27.7 31.2 31*1 35.8 37.2 39.3 1*0.5 1*0.3 1*5.8 1*8.8 1*9.7 56.2 56.6 : 27,7 31.0 35«9 3lii.9 1*2.5 1*6.3 50.6 50,6 L6.8 56.7 61.7 61.9 57.7 66.6 69,5 67.3 67.1* 69.1* 69 a 1* 67,6 68 »0 67,1* 66e. 9 67.7 66.0 65.5 3/ 66,0 " 65.9 62»7 65*8 65,0 65,3 27.3 30.3 30,1* 25,6 32,3 36.2 38,9 39.1 38.3 1*6.3 52.7 55.2 1*9,1* 56.6 56.2 58.2 58«2 62.7 61**5 62.0 63.8 63.2 61.7 61.1 61.1* 61.1* 60.3 60.8 58.8 62,0 61*»7 62,1 26,0 31.1 33.1* 32.1* 38,1 39,1* 1*1.1 1*2 < 1*1 < 1*8, 52, 53. 51.3 18,9 23.1* 27.1 28*5 31.5 32,1 33*9 36.1 37,1 1*0.7 1*2.6 1*1*. 1 1*1*. 1* 1*8.0 57.5 58.1* 58,2 1*8.1* 58,7 1*8.8 60.1* 61,1* 61,1 61.7 61*9 60.5 1*8,2 l*9el* 50,3 50«6 51.1* 51.7 51.1 61.0 51.6 59.1* 59.7 59.0 50.6 60.6 51.5 3/50,1* 50,3 50,1 5o,5 5/51.0 5i.o u,s. Govt, securities maturing within one year "HI commercial banks i 11**3 ll*.0 ii*;2 19.2 15.2 9«8 11,7 16,9 io;o 5.1 7.5 8.1* 8.3 5.9 6.1 6.7 6*6 5.5 1**6 hl9 1*»1* 1*,1 5.2 5.1* 6.1* 7.7 8.1 • 8,1 8.5 8,9 8.1 n 6-3. I l/ Total .... loans (adjusted - , . to exclude — loans to banks)j» 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/ Prior to 1951> data are on call basis and beginning in 1951, they are on maturity basis, On a call basis, data for 1951 and 1952 are 21$5 and 19.1 respectively, 3/ Data not strictly comparable with previous figures as one large country bank merged with a central reserve city bank,, h/ Includes merger with nonmember, 5/ Reserve city 9 banks reclassified to country banks, n»a» Not available, "" L.U.3 - 13 - Table 6 Free Reserves and Total Reserves Held (Based on averages of daily figures; in millions of dollars) Free reserves (excess reserves minus borrowings) Date "Air- Central member Monthly averages: reserve city Reserve Country Hew York | Chicago city - la - 1*25 — 80 - 109 - 32 - 101* 197 B9 I960: - - - 90 - 126 - 152 - 100 - 1*9 - 59 - 39 - 38 5 2 1* 1* 1*39 381 252 251* 173 120 128 1961: 360 361 219 195 33 1*1 120 - 2h7 1(13 1*89 611* 681 Jan* Feb* Mar. Apr. TIT member I j 1958: Dec* 1959: Dec, Jan* Feb, Mar* Apr. May June July Aug, Sept. Oct. Nov. Dec* Total reserves held seasonally 1/ adjusted j! 88 50 l 31 US 16 3 - 27 2 9 31* 10 695 517 li76 566 26 26 9 60 62 a ' | \ ! 268 237 18,602 18,671 257 197 182 190 11*1* 20 li 290 375 18,691 18,360 18,228 18,101* 18,276 18,275 18,389 18 M 2 38 h6b 80 1*83 516 596 18,750 18,915 19,097 19,031 19,119 19,112 19,013 18,879 89 583 - 29 1 1* 35 39 131 it 71 - 15 1*6 1*79 II • cl# 36 339 l*7l* 527 - 10 510 1 Weekly averages: 1961: Mar, 29 Apr, Me y. 5 12 19 26 3 521 1 1*28 ! 1 528 j S 638 ! 695 i 1*01* - 13 ! 35 13 38 20 j ! i 53 . .J 19 3 6 2 66 22 650 n.a. n*a+ n * a* a* 8 52 29k n t a# 61* i silii 1/ Data have been adjusted to exclude effect of changes in reserve requirements< Not for publication e «=> lit => L*U*3 Table 7 Changes in Member Bank Reservest with Relevant Factors (Monthly average of daily figures; in millions of dollars) 0 January= April 2/STear ending April ApriLI Item 1961 I960 1961 I960 1961 I960 ° 253 = 75lt + $66 - 551 Menjber bank reserves Required reserves * * - Effect of change in requirements Effect of deposit change 1 85 1 + 85 - 253 - 75& + 566 •00003 - 551 + 77 - 8 •= Ili5 - 7k + 215 « + 75 + - 399 = 828 + 780 - 560 Cash allowed as reserves 1/ + ' 20 Reserve balances "" + 55 + + 1* 73 =» 186 - 213 •=> 1*3 = 785 +2s 11*9 -1,369 + 261 - 821 = 121* - 152 - 567 + 775 •=> 560 1/ . Total reserves held 1/ Total reserve® held, seasonally adjusted 000 - 13h Currency in circulation Gold stock and foreign accounts Treasury operations Federal Reserve float 3 / Other factors 3/ Effect of above factors on reserves e3teco <=•=" 77 <=>««» 10 (signs iiidicate ©;'feet on 1•eserves) Principal factors ^ + - Excess reserves ® 1/ 85 +1,105 +1,061 = 200 + 1*3 + 61 + 69 + 131 - 12 => I4I - 29 - 521 + 119 « 525 79 + 300 -2,018 + 213 + 101* + + 220 + 80 - 19 = 3l*l* + + + + 230 - 88 • 398 +1,078 -2,008 = 580 - 175 + 163 - 611 =>1,863 + 61*0 — 21*1 = 156 + 178 + 112 - 573 - 507 - 65 7 -1*51*7 -1,620 , + 73 •=> 28 +1,187 +1,290 - 103 + 13 - 301* + 16 - 51*5 - 15 - 7k - - 107 - 1*09 919 331 11*5 272 Federal Reserve loans and investments* ^ • Total U. S, Govt, securities Outright Repurchase agreements Acceptances Discounts and advances1 To meriber banks To others = 163 + 8 + - 67 1 ~ 13 1* • 33 19 = 1=3 30 1 2/ Computed on daily averages for December and Aprile 3/ Beginning February I960, data are on new basis excluding collected funds - 172 <=» 165 7 + 2 + 71* 3 = 15 = L.4.3 Table 8 Liquid Assets Held by the Public — Seasonally Adjusted Series (Amounts in billions of dollars; ratios expressed as percentages) End of year or month Demand Personal-type savings deposits Total Total adjusted personal- Time d«jposits Savings u. s. liquid Govt, and type adjuslied 1/ and assets currency savings Commer- Mutual loan savings (2+3+8) shares bonds outside (4+5+6+7) cial savings banks banks 2/ banks 1/ 3/ 4/ 1 , 6 7 5 2 3 4 Ratio: Ratio: Commercial Commercial Total U, S. Govt bank demand bank deposits liquid securities and time de- + currency to assets to maturing posits adj. gross total liquid within one and curraicj national assets year 5/ (2 + 4) (9 + 1) product 6/ 11 10 8 9 1950 1.951 1952 1953 1954 1955 1956 1957 1956 1959 271.8 284.0 296*2 308.3 318.0 330.3 339.9 351.7 368.9 388.7 11.4.6 120.2 124*1 126.6 130.0 133.5 134.5 133.6 138.8 1140*2 129.0 132.7 140»6 148.6 158 „1 36.3 37.8 40 a 6 43.6 46.8 166 o4 48.5 174.1 50,7 182 08 1 56.4 196.7 63.4 66.2 204.4 23.0 23.6 25.2 26,7 28.5 30,0 31.6 33.0 35.1 35.9 14.0 16.1 19.2 22.8 27.2 32.0 37.0 41.7 47.7 54.3 55.7 55.2 55.6 55.5 55.6 55.9 54.8 51.7 50.5 48*0 28.2 31.1 31.5 33.1 29.9 30.4 31.3 35*3 33.4 44.1 I960 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. . Dec, 1961 Jan. • Feb. Mar. 389,2 389.1 390.1 390,5 386*7 388*7 388,8 390.3 392.7 39b.0 I 393*7 396.0 s ' I 398*1j 400.8 1*03.8 1 140.0 139-1 139.5 139.a 137,5 138.0 13806 138.6 138*5 139,9 138e8 ! 139.2 | 204.1 204«5 i 205*3 205.8 206.5 207=7 1 209.2 j 35.8 35.8 36.0 1 36.1 36.1 36.1 | 36.4 36.4 36.6 j 36.8 36,9 37.1 54.9 55.4 56.0 56.5 57.1 57.7 58.3 59.1 59.7 60.5 61.1 61.8 47.7 47.6 1 47.4 i 47.2 ! 47.2 : 47.1 ;• 47.0 : 46.9 : 47.0 46; 9 i 46:9 i 47.1 45.1 45*5 45.6 45.3 216*0 i 217.7 : 65.7 65.7 i 65.9 1 66.0 ! 66.11 66.8 | 67.5 i 68.6 ' 69.3 : 70.0 71.1 71.7 11+0*7 | 139*4 l4o«4 j 219*3 221.4 222.6 72.2 73.7 74.11 37*3 37.3 37*5 62.6 47.2 ! 47,2 j 47.2 : 38.1 40..0 40.8 | 211o0 ! 212s 6 214.2 ! 63.2 j 63*8: 42.7 43:0 41*0 40*7 41.6 39:9 38:9 39.1 150.9 158.0 1640 7 170.2 176*8 182.0 185.2 190*0 202.2 206.4 55.5 55.6 55.6 55*2 55.6 55.1 54.5 54.0 54.8 53.1 1 205=7 204-8 ! 1 203,6 204:8 M 206.1 1i ! i ': 207:2 207:8 209:9 209.9 ! 210.9 ! 52.9 52.6 52.6 52.6 52.7 52."7 53.0 53.1 52.9 53,3 53.3 53.3 212.9 213.1 214.5 53.5 53.2 53.1 ! 1 i: 205.4 205.4 j 1 i 89=1 83.3 82.2 85 a 85.3 80.7 78*8 79.3 79.3 79.8 77.7 77.0 77-5 78.3 80*0 p Preliminary.' Data for demand and time deposits adjusted and currency outside banks ere as of last Wednesday of month, except that time deooslts are as of June 30 and December 31 when call data for these dates were available 2/ Includes savings deoosits in the Postal Savings System. y ftrlor to 1955 data are Board estimates based on monthly figures of inflow of new savings and withdrawals of savings catatal compiled by the Federal Home Loan Bank Board. y Includes all types of savings bonds held by investors other than banks and U. S. Government agencies and trust funds* i/ Includes all marketable securities maturing within one year (adjusted to include partially tax exempt months P ^ o r t o first call date) and, prior to 1956,ronmarketableTreasury savings notes with maturities up to 2u months; figures include holdings of insurance companies, brokers arti, dealers, State and local governments, nonbank corporations, corporate pension funds, nonprofit Institutions, foreign accounts, and Individuals. 6/ Gross national product estimates are available quarterly and annually only. For 1950-58 ratios are for last quarter of year; for 1959 and I960, for each quarter of year. Data for total liquid assets used la computing these ratios are quarterly average for four dates: each month of the current quarter and the last month of the preceding quarter. Table 9 Money Supply (Averages of daily figures, Semimonthly period Dec® 1955—Dec, 1956~-Dec* 1957—Dec. 1958—Dec. 1959—Oct* Not. Dec* I960—Jan* Feb. Mar* Apr* May June 2 2 2 (2) (2) (1) (2) 1 (2 1 (2) (1) (2) (1) (2) (1) (2 1) 2) 1 2 1 (2) July (1) (2) Aug* (1) (2) Sept* (1) 2 Oct* 1 (2 Nor* (1) (2) Dec* (1) (2) 1961—J an * (1) 2 Feb* 1 (2) Mar* (1) (2) Apr, (l)p (2)p 1/ At ail commercial In billions of dollars) Seasonally adjusted Demand Cur" deposits Total rency 1/ Without seasonal 1adjustment Demand Curdeposits Tdtal rency V ' 132,0 134.7 136.6 135.5 140.9 27.4 27.8 28,3 28,3 28,6 104.6 106*9 108.3 107.2 112*3 135.7 138.5 140,4 139.3 144*9 27.9 28*3 28,8 28*9 29*2 107*9 110.2 111.6 110.4 115*7 142*6 142,2 142,2 142*1 llil.5 141*5 29,0 29.0 29.0 28,9 28.9 28*9 113*6 113*3 113*2 113.2 112.6 112.6 142*2 142*4 143.3 143.4 144.4 145.4 29.1 28.9 29.2 29.2 29.5 29.5 113.0 113.5 114.1 114.1 115*0 116.0 141.3 141*3 141.1 140,9 140.8 140.3 140 .3 140.7 140,2 139.6 139.4 139,4 139,6 139.7 139,7 139,8 140,3 140,5 140.0 141.2 140.6 139.9 140.3 140.5 140.2 141.0 141.3 141.1 141.1 142.0 141.7 142,3 28*9 29.0 28.9 29.0 29.0 29.0 29.1 29.0 29.0 29.0 28,9 28,9 28*9 29,0 29.0 28,8 29.0 28.9 29.0 29,0 29.0 29.0 28.9 29.0 28,9 29.0 28,9 28,9 29.0 29.0 29.0 29,0 112,4 112.3 112.2 111.9 111*8 111.3 111.3 111.6 111.2 110*5 110*5 110*5 110.6 110.7 110,7 111,0 111.3 111.6 145.2 143*6 141*8 139*6 140.0 138,6 139.6 140.9 139.0 137.0 138.2 137.9 138.2 139.3 139,6 138.2 139*9 139.6 139.8 141.4 141.7 141.2 143.3 144.4 144*0 143*4 142.0 139.6 140.1 140*0 140.9 142.6 29.1 28,5 28,7 28*5 28.7 28,6 28,9 28,6 28,8 28,7 29.0 28*8 29.3 29.0 29.2 28,9 29.2 28,9 29.2 29.0 29.2 29.3 29.5 29.6 29.1 28,5 28.6 28.5 28,7 28,6 28,8 28,6 116,1 115.1 113.2 111,1 111,3 110,0 110,7 112,3 110,2 108,3 109*2 109.1 108,9 110,3 110,4 109.3 110.7 110.7 110.6 112.4 112*4 111.9 113.7 114.8 114.9 114.8 113.3 111,1 111*5 111*4 112,1 114,0 banks. 111.0 112*2 111.6 110,9 111.4 111.5 111.3 112.0 112.4 112,1 112,1 113.0 112*8 113.3 p. prel:Lminary* Loii.3 Year or month End of Dec 195k 1955 1956 1957 1958 1959 s Nov6 25 Dec. 31 J/ 1960S Jan. 27 Feb0 2k Mar. 30 Apr» 27 May 25 June 29 July 27 Aug* 31 Sept,28 Oct« 26 Nov, Dec, 1961s Jan, 25p Mar, Ip Mar, 29P Apr 26p Table 10 Deposits and Currency (In billions of dollars) (11) (12) (10) (7) (8) €9) (6) (U) <12 (21 m Seasonally Seasonally adjusted Total Time deposits adjusted money simply 1/ Cur- deposits u. s. Demand money and rency Govt, Curdeposits supply and Demand currency outside deposits Postal Mutual CommerTotal rency Total time dep. adjusted (7*8*9) cial deposits banks (5+6+10 2/ savings savings outside (2*3) at cam. adjusted +11) banks banks(l+7) 130,0 133® 5 131.5 133-6 138 . 8 103.1 106.1 107,1 105,8 110 o 7 26.9 27.U 27 .U 27.8 28,1 176*8 181=9 185.1 189.7 202,0 106*6 109.9 111.1; 110*3 115,5 75.3 78. h 82,2 89.1 98.3 I16.8 U8.I1 50,6 56.1 63.2 26,3 28.1 30,0 31.7 3U.0 2,1 1.9 1,6 1.3 ! 1.1 5.1 U.U U.5 U.7 U.9 27.9 28,3 28,3 28,3 28.7 211i.8 221.0 226,u 232.3 2li7.5 lliO,l lliOs2 lllo8 112 o0 28.3 28,2 20U.8 206.1 113.1 115. U 100.3 101,8 6U.7 65.9 3U.6 3b.9 1,0 0.9 5.1 5.8 29.1 29 .U 2li7.6 252,1 1U0„0 139=1 139.5 139 .U 137.5 138,0 138.6 138,6 138.5 139 o 9 138*8 139,2 111.7 110.8 111,1 111.2 109.3 109.9 110,3 110 o 3 110,3 111.5 110 ,6 111.0 28.3 28.3 28 28.2 28.2 28,1 28.3 28.3 28.2 28.1 28,2 28,2 205.2 20U.5 205-5 205.6 20k,0 205.U 11U.0 101,0 101.2 102,2 102,3 102.6 103.6 10U.2 105,3 106,0 106.7 106.7 108.5 65.2 65.li 66.0 66,2 66,5 67.ii 67.9 68.9 69.li 70.0 70.0 71.lt 3U.9 3U.9 35.3 35.2 35.2 35.U 35.5 35.6 35.8 35.9 35.9 36.3 0.9 0,9 0.9 0«9 0,9 0.8 0,8 0,8 0,8 0,8 0,8 0.8 li.li 5.3 5.2 5.3 7.7 7.8 7.0 6.2 8.2 6.7 6,1 6.7 27.9 28.0 28.1 27.9 28,1 28*3 28,L 28.5 28 a 3 28,3 28.7 29.1i 2U7.3 2I1I1.9 2Wi.2 2U7.0 2116.1 2U7.7 2U9.6 218.8 251.8 25L.0 253.5 259 »6 206.5 207.5 207.9 209.9 208.8 210*6 110,5 108,8 111.5 107.7 107.8 110,1 108.9 109.3 112.2 111.9 115.1 28,0 0.8 255-7 lt.1 71=7 109,0 212. U 36.5 11U.7 28 .U 112,3 1U0.7 256,0 28,2 6.5 36.6 110*6 0,7 110,7 212.7 110,9 28.5 73.3 139 255.1 r 28,0 37.0 r 110=3 0,7 111«9 r U.9 21U*6 112*1 7L.2 28,3 HlOai| 257,1 2.8 27 »9 0.7 112,8 37.1 113.6 75.0 28.2 216.5 113.3 Htl.5 1!l I p Preliminary. r Revised< Wednesday of the month, 2/ At commercial,, . savings and Federal Reserve.Banks» —3/ Demand deposits were reduced about $U00 million as a result of a technical change under Regulation D amending the definition of such deposits. On balance in 1959, as a result of structure changes, demand deposits adjusted increased SUOO million, time deposits at commercial banks increased $700 million, and time deposits at mutual savings banks declined $300 million. http://fraser.stlouisfed.org/ Note? @pta revised@.n accordance with Decqg^er 31, I960 call, 0 # # # # Federal Reserve Bank of St. Louis L.U.3 Table 11 Loans and Investments at All Commercial Banks (in billions of dollars) U. S. Loans Other and Govt, secur- Total invest- securities loans ments ities Date 195U: 1955 s 1956: 1957: 1958: 1959: Dec, Dec, Dec, Dec. Dec. June June 31 31 31 31 31 (old) (new) 1959: Nov a 25 Dec. 31 1/ I960: Jan, 27 Feb, 2k Mar, 30 Apr, 27 May 25 June 29 July 27 Aug, 31 Sept»28 Oct. 26 Nov, 3C Dec, 31 155,7 160,3 16k.5 169.3 iSh.h 69,0 61,6 58 «6 58.2 66,b 20,6 20,6 102,8 20,6 102*8 60 *9 606 9 186, 189 < 58,5 58.9 107*3 185.6 58.0 107,U 181.3 183.1 186.2 185.9 186.7 188.6 189,0 191.U 193.8 193.9 198-5 56.2 5U.2 55.8 55.1 5k.2 56,7 56»6 57,7 60.U 60 < 61. Security 16,3 16.7 16,3 17*9 18U.2 18U.2 Business Nonbank financial All instituother tions 110.0 108,1 109,1 110,b 110,9 112.6 111,9 112 »5 113,5 113,0 113,a 116.7 20.1 8. Jan* 25 r 61. 195.6 112.81 Mar* 1 r 61 8.8 197,0 llU.U c 59= 20 7r Mar. 29 P I11U..2, , 195-6 Apr. 26 p 60« 197*2 I p Preliminaryc 1/ Structure changes in 1959, on balance through August added almost SI billion to total creditj $600 million in loans; I300 million in U« S Government securities; and $100 million in other securities. Real estate loans increased about $300 million; business loans $100 million; consumer loans3 $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 for all dates« Other data are partly estimated on all but June and December call dates» Beginning June 2b> 1959^ "business loans* and "all other loans" have been revised to exclude loans to nonbank financial instituting, ^ ^ ^ ^ ^ ^ http://fraser.stlouisfed.org/ 1961 i Federal Reserve Bank of St. Louis
@FedFRASER