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Not f o r P u b l i c a t i o n BANKING AND MONETARY DEVELOPMENTS April 1972 Banking S e c t i o n D i v i s i o n of Research and S t a t i s t i c s Board of Governors of the F e d e r a l Reserve System # TABLE 1 Changes in Commercial Bank Credit ,~^Money Stock, and Time D e p o s i t s Seasonally 1969 1970 • Year Year 2.9 8.4 11.4 11.1 15.1 12.7 18.6 3.6 U ;S . Gov 1. s e c . -15.7 12.6 4.7 5.3 9.9 26.1 23.6 3.9 Other s e c u r i t i e s -0.3 20.6 20.7 20.1 16.1 12.5 17.9 -1.1 8.2 4.5 12.5 9.7 15.8 10.3 17.5 5.4 10.2 3.7 5.4 -2.4 9.0 9.3 8.2 13.2 T o t a l bank c r e d i t # a d j u s t e d annual r a t e s ( per c e n t ) 1971 1972 1972 4th 1st Year Qtr. Qtr. Feb. Mar. 1 Loans B u s i n e s s Loans 2 / # Apr .p Adjusted f o r loan s a l e s t o bank a f f i l i a t e s # T o t a l bank c r e d i t Loans B u s i n e s s Loans 2 / 3.9 8.1 11.3 11.1 15.1 12.4 18.0 3.6 9.7 4.1 9.9 9.4 15.7 10.2 16.7 5.0 12.9 3.1 4.8 -3.4 9.6 9.1 9.1 12.0 3.2 5.4 6.2 1.1 9.3 12.6 11.9 8.2 -4.9 17.9 17.9 15.9 14.8 16.2 7.8 12.4 # Money s t o c k Time d e p o s i t s # _1/ 2/ S e r i e s r e v i s e d beginning J u l y , 1971 t o r e f l e c t adjustments t o December 31 1971 Call Report. Business loans r e v i s e d beginning June, 1967 t o r e f l e c t t r a n s f e r of "Federal funds s o l d and s e c u r i t i e s purchased under agreements t o r e s e l l w i t h o t h e r s from b u s i n e s s " l o a n s t o " a l l other l o a n s " . For back d a t a , see appendix t o t h i s release. TABLE 2 Loans and Investments a t A l l Commercial Banks 5 / ( S e a s o n a l l y Adjusted) Loans Total Date ( I n b i l l i o n s U.S. G o v ' t . securities Other securities d o l l a r s ) 1968--Dec. 1969--Dec . 31 31 2 / 390.6 402.1 258.2 279.4 61.0 51.5 71.4 71.2 1970--Sept. Oct. Nov. Dec. 30 28 25 31 424.3 426.2 429.3 435.9 288.4 289.1 290.0 292.0 56.8 56.3 56.3 58.0 79.2 80.8 83.0 85.9 440.7 446.1 449.5 452.5 456.1 461.1 58.9 60.8 61.1 60.7 60.4 62.8 463.7 468.4 472 .4 477.2 479.8 485.7 293.7 295.7 296.5 298.2 300.7 302 .4 301.7 304.1 309.7 313.0 317.0 318.7 320.6 61.6 60.9 59.9 59.1 58.a 60.7 88.1 89.6 91.9 93 .5 95.1 95.9 96.6 98.0 97.8 99.5 101.1 102.2 104.5 491.4 496.6 504.3 505.8 325.7 328.5 333.3 334.8 59.7 61.0 62.2 62.4 106.0 107 .1 108.7 108.6 1971--Jan. Feb. Mar. Apr. May June 27 24 31 28 26 30 ( o l d ) (new)4/ J u l y 28 Aug. 25 Sept. 2 9 O c t . 27 Nov. 24 Dec. 31 1972--Jan. Feb. Mar. Apr . 1/ 2/ 3/ 4/ 5/ 26 23 29 26 p TABLE 3 LOANS SOLD OUTRIGHT 3Y COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES 10/ Loans s o l d o u t r i g h t by commercial banks ( o u t s t a n d i n g i n b i l l i o n s of d o l l a r s , N.S.A.] Sold t o Sold t o nonbank p u b l i c 2 / A f f i l i a t e s 1/ Business Business Business Loans Total Loans Total Loans Total Commercial bank c r e d i t (seasonally adjusted) Total loans and i n v e s t m e n t s A d j u s t e d 3/ Original 1971—Jan. 27 Feb. 24 Mar. 31 Apr . 28 May 26 June 3 0 ( o l d ) June 30(new) J u l y 28 Aug. 25 Sept.29 Oct. 27 Nov. 24 Dec. 31 4.6 4.5 4.5 4.4 4.5 4.7 2.5 2.5 2.3 2.3 2.3 2.3 2.9 2.9 2 .9 2.7 2.8 3.1 1.7 1.6 1.6 1.7 1.7 1.6 0.4 0.4 0.4 0.4 0.4 0.4 440.7,/ 446 .1— 449.5 452 .5 456.1 461.1 443.6 , 449.0452.4 455.2 458.9 464.1 4.4 4.4 4.6 4.5 4.4 4.5 2.2 2.3 2.3 ? .2 2.2 2.0 2.8 2.8 3.0 2.9 2.8 2.8 1.6 1.6 1.6 1.6 1.6 1.7 0.4 0.5 0.4 0.4 0.4 0.4 463.7 468.4 472.4 477.2 479.8 485.7 1972—Jan. Feb. Mar. Apr. 4.6 4.5 4.4 4.4 2.1 2.0 2.2 2.1 3.0 2.9 2.8 2.7 1.6 1.6 1.6 1.7 0.4 0.3 0.4 0.4 26 23 29 26 p Total loans A d j u s t e d 31 Original B u s i n e s s l o a n s 11/ Original 110.3 111.3 466.5 471.1 475.4 480.1 482.6 488.6 296.5 298.2 300.7 302.4 301.7 304.1 309.7 313.0 316.3 317.5 320.6 296.6, , 298.6^ 299.3 300.9 303.5 305.5 304.8 307.0 312.4 316.0 319.3 320.3 323.4 491.4 496.6 504.3 505.8 494.4 499.5 507.0 508.5 325.7 328.5 333.3 334.8 328.7 331.5 336.1 337 .5 116.4 117.3 118.1 119.4 t; 13.2 14.7 9.1 8.0 9.5 13.2 6.8 12.2 10.2 12.2 6.5 14.8 12.8 14.6 9.1 7.4 9.8 13.3 6.2 11.8 11.0 11.9 6.2 14.9 7.0 8.2 3.2 6.9 10.1 6.8 9.5 22.1 12.8 15.3 6.4 7.2 6.9 8.1 2.8 6.4 10.4 7.9 8.7 21.1 13.8 14.8 6.4 6.7 7.7 10.9 -2.2 6.5 9.7 -5.3 11.8 21.2 10.4 4.1 -6.2 -5.2 7.5 10.7 -4.2 6.4 9.5 -5.2 10.5 20.9 11.3 3.0 -6.1 -7.1 5/ 14.1 12 .7 18.6 3.6 14.2 12.4 18.0 3.6 19.1 10.3 17.5 5.4 19.7 10.2 16.7 5.0 9.4 9.3 8.2 13.2 10.2 9.1 9.1 12.0 111.1 111.7 112.6 112.1 113.2 115.2 116.2 116.6 116.0 115.5 Net Change ( B i l l i o n s of d o l l a r s ) 1971—Jan. 27 Feb. 24 Mar. 31 Apr. 28 May 26 June 30 J u l y 28 Aug. 25 Sept .29 Oct. 27 Nov. 24 Dec . 31 1972--Jan. Feb. Mar. Apr. 5/ -0.1 5/ -0.1 . 26 23 29 26 p 0.1 0.2 -0.3 5/ 0.2 -0.1 -0.1 0.1 0.1 -0.1 -0.1 5/ 5/ -0.1 5/ 0.1 J 5/ -0.1 5/ -0.1 0.1 5/ 0.1 0.3 -0.3 5/ 0.2 -0.1 -0.1 5/ 5/ -0.2 5/ 5/ 5/ -0.1 5/ 0.1 -0.1 -0.2 -0.1 0.1 -0.2 0.1 0.1 5/ 0.1 -0.1 -0.1 5/ 5/ 0.1 $ 0.1 -0.1 0.2 -0.1 -0.2 0.1 -0.1 -0.1 -0.1 ..s; % 5/ 5/ 5/ 5/ 5/ 5/ ' 5/ 5/ 0.1 -0.1 5/ 5' 5/ -0.1 0.1 5/ Preliminary. Estimated. * 1/ To bank h o l d i n g companies a f f i l i a t e s s u b s i d i a r i e s or f o r e i g n b r a n c h e s . To o t h e r t h a n b a n k s ' and b a n k - r e l a t e d a f f i l i a t e s or s u b s i d i a r i e s . y, I n c l u d e s a l l l o a n s s o l d t o bank h o l d i n g companies, a f f i l i a t e s , s u b s i d i a r i e s , or f o r e i g n b r a n c h e s . 4 / I n c l u d e s b u s i n e s s l o a n s s o l d t o bank h o l d i n g c o m p a n i e s , a f f i l i a t e s , s u b s i d i a r i e s , or f o r e i g n b r a n c h e s . 5 / Less t h a n $50 m i l l i o n . 6 / I n c l u d e s $800 m i l l i o n System matches s a l e - p u r c h a s e t r a n s a c t i o n s o u t s t a n d i n g on F e b r u a r y 2 4 . 7y> B e g i n n i n g June 30, 1971, Farmers Home A d m i n i s t r a t i o n i n s u r e d n o t e s t o t a l i n g a p p r o x i m a t e l y $700 m i l l i o n a r e i n c l u d e d i n ' b t h e r s e c u r i t i e s " http://fraser.stlouisfed.org/ g a t h e r t h a n in " r ( j 0 e s t a t e l o a n s " ^ ® 0 & 4) Federal Reserve Bank of St. Louis 8/ 9/ 10/ XT/ ^ ^ABLE 3 - Suppl^fentary $ % LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES 10/ Loans s o l d o u t r i g h t by commercial banks ( o u t s t a n d i n g i n b i l l i o n s of d o l l a r s . N.S.A.) Sold t o Sold t o A f f i l i a t e s 1/ nonbank p u b l i c 2 / Business Business Business Total Loans Total Loans Total Loans 2.0 2.8 3.7 4.2 4.7 5.9 6.1 5.3 1.1 1.7 2.4 2.7 3.0 3.9 4.1 3.2 7.7 8.3 8.5 9.0 9.8 9.8 10.0 9.6 6.8 6.0 5.4 4.7 5.1 5.8 6.0 6.4 7.1 7.2 6.9 6.6 4.2 3.7 3.2 2.5 t; 1.5 2.1 2.8 3.3 3.8 4.8 4.8 3.9 6.0 6.6 6.8 7.2 8.1 8.1 8.2 8.0 5.2 4.4 3.8 3.0 1.9 2.2 2.5 3.3 3.4 2.6 4.4 5.0 5.3 5.6 6.4 6.5 6.3 6.0 3.7 3.2 2.7 2.1 0.5 0.7 0.9 0.9 0.9 1.1 1.3 1.4 0.3 0.4 0.5 0.5 0.5 0.6 0.7 0.6 1.7 1.7 1.7 1.8 1.7 1.7 1.8 1.6 1.6 1.6 1.6 1.7 0.7 0.8 0.7 0.8 0.7 0.7 0.6 0.6 0.5 0.5 0.5 0.4 % Commercial bank c r e d i t (seasonally adjusted) Total loans and i n v e s t m e n t s Original Adjusted 3/ 0.6 0.7 0.3 0.3 0.9 0.2 -0.9 0.6 0.7 0.5 0.5 1.0 5V -0.9 0.5 0.6 0.3 0.3 0.8 0.1 -0.8 2.4 1.9 0.7 0.2 0.4 0.7 0.1 -0.3 -0.3 -2.4 -0.5 -0.5 -0.7 2.1 0.6 0.2 0.4 0.9 5/ 0.1 -0.2 -2.8 -0.8 -0.6 -0.8 1.8 0.6 0.3 0.3 0.8 0.1 -0.2 -0.3 -2.3 -0.5 -0.5 -0.6 0.6 0.2 0.5 0.8 5/ 0.2 -0.4 -2.8 -0.8 -0.6 •0.7 B u s i n e s s loans 11/ Original Adjusted 4/ 399.8 400.6 399.5 398.9 398.6 399.5 402 .3 402.1 401.3 402.7 402.3 402.2 402 .4 404.3 407.1 406.0 271.0 271.9 271.6 272.1 273.6 275.6 277.8 279.4 272.5 274.0 274.4 275.4 277.4 280.3 282.6 283.3 102.3 102.4 102.7 103.4 104.2 104.6 105.1 105.7 103.1 103.7 104.6 105.6 106.7 107.9 108.5 108.3 400.3 400.4 403.9 405.9 407.7 408.4 414.3 419.5 406.3 407.0 410.7 413.1 415.8 416.5 422.5 427.5 109.6 110.1 110.4 110.9 111.9 112.7 113.3 114.5 429.5 430.6 433.1 438.9 284.5 284.8 286.5 286.5 287 .2 287.6 291.4 293.7 293.6 293.5 293.8 294.9 105.2 105.1 105.1 105.3 105.5 106.2 107.0 108.5 424.3 426.2 429.3 435.9 278.5 278.3 279.6 279.3 279.1 279.5 283.2 285.7 288.4 289.1 290.0 292 .0 109.5 109.4 109.3 109.6 112.6 112.0 Net Change ( B i l l i o n s of d o l l a r s 0.8 0.9 0.5 0.5 1.2 0.2 -0.8 Total loans Original A d j u s t e d 3/ 113.2 111.7 (Annual r a t e s i n p e r c e n t ) 0.2 0.2 0.1 0.2 0.2 0.1 0.1 0.1 -0.1 0.3 5/ 0.1 0.1 -0.1 0.1 -0.1 5/ -0.1 5/ I; 5/ 0.1 -0.2 0.1 i; -0.1 I 0.1 5/ 5/ -0.1 2.4 -3.3 -1.8 -0.9 2.7 8.4 -0.6 4.2 -1.2 -0.3 0.6 5.7 8.3 3.2 4.0 -1.3 2.2 6.6 8.8 9.6 6.9 6.6 1.8 4.4 8.7 12.5 9.9 3.0 1.1 3.5 8.2 9.3 4 .6 5.7 6.9 -5.4 0.3 10.5 5.9 5.3 2.1 17.3 15.1 13.7 5.4 8.7 18.4 0.9 2.1 10.9 7.0 7.8 2.0 17.3 14.2 5.6 3.1 7.0 16.1 -3.9 -0.9 5.6 -1.3 -0.9 1.7 15.9 10.6 11.3 2.9 3.7 8.3 5.1 1.3 7.2 -1.1 2.9 1.6 15.9 9.5 -0.4 -0.4 1.2 4.5 -5.7 2 .2 2.3 8.0 9.0 16.8 11.1 -1.1 -1.1 3.3 7.0 10.4 11.5 12 1355 6.7 -2.2 14.4 5.5 3.3 5.4 10.8 8.6 6.4 12.7 -13.6 -6 .4 -6.4 -3.2 Partly estimated. . Corrected. c Adjusted to maintain comparability with subsequent d a t a . S e r i e s r e v i s e d b e g i n n i n g J u l y 1971 t o r e f l e c t a d j u s t m e n t s t o December 1971 C a l l R e p o r t . Data r e v i s e d b e g i n n i n g June 1967 t o r e f l e c t t r a n s f e r of " F e d e r a l f u n d s s o l d and s e c u r i t i e s purchased under agreements t o r e s e l l w i t h o t h e r s " ot t h i ^ r e l e a s e 6 8 8 ^°anS t 0 ^ e r l o a n s " . I n many c a s e s , s m a l l changes d i d not a f f e c t rounded f i g u r e s . For back d a t a see appendix t o TABLE 4 NONDEPOSIT SOURCES OF FUNDS AND METHODS OF FINANCE ( O u t s t a n d i n g s i n b i l l i o n s of d o l l a r s ) Date 1969 May 28 J u n e 25 J u l y 30 Aug. 27 Sept.24 O c t . 29 Nov. 26 Dec. 31 1970 J a n . 28 F e b . 25 Mar. 25 A p r . 29 May 27 June 24 J u l y 29 Aug. 26 t Sept.30 . O c t . 28 Nov. 25 Dec. 30 Euro-dollars Through b r a n c h e s o u t s i d e U.S. Territories F o r e i g n and p o s s e s s i o n s Total 12.7 16.8 19.4 19.6 19.1 19.4 20.9 19.6 10.9 14.3 15.6 15.9 15.5 14.8 15.9 14.5 9.9 13.3 14.4 14.7 14.3 13.6 14.5 12.8 0.6 0.4 0.4 0.3 0.3 0.4 0.4 0.8 21.5 15.2 21.5 14.5 * 20.5 13.2 20.6 f 13.1 21.7 13.3 21.5 r 13.1 19.8 11.3 19.5 11.5 15 .9 10.6 14.6 10.3 9.4 13.2 8.6 11.7 j 13.6 13.1 11.9 11.9 12.3 12.2 10.5 10.6 9.8 9.4 8.6 7.7 0.7 0.7 0.6 0.6 0.5 0.6 0.6 0.6 0.6 0.7 0.7 * 0.7 0.6 0.5 0.5 0.4 0.3 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.3 0.3 0.2 0.2 0.2 0.1 0.1 0.1 0.1 o.i V 7/ 7/ Z/ 7/ 7/ 7/ 7/ 2/ 7/ 1/ 7/ 7/ 7/ 7/ 7/ 27 24 31 28 26 30 28 25 29 27 24 29 10.2 9.1 6.4 5.7 5.1 5.2 5.2 4.9 6.0 6 .6 7 .0 4.4 7.4 6.5 3.5 2.8 2.2 2.2 2.1 1.9 2 .8 3.3 3.7 1.3 6.5 5.7 2.9 2.2 1.6 1.5 1.5 1.4 2.5 2.9 3.3 0.9 0.8 0.8 0.6 0.6 0.6 0.6 0.6 0.5 0.4 0.4 0.4 0.4 1972 Jan. Feb. Mar. Apr. 26 23 29 26 5.0 4.7 5.1 4.8 1.8 1.4 1.8 1.6 1.4 1.1 1.5 1.4 0.3 0.3 0.3 0.3 1/ 3/ I 7/ Direct"^ Total 1971 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 2/ Through brokers and 1/ dealers 0.16/ 0 . 2 6/ 0.3 0.5 0.4 0.5 0.6 0.6 . 0.2 6/ 0.4 6/ 0.5 0.4 0.4 0.3 0.3 0.3 Commercial paper 2 / Loans s o l d under r e p u r c h a s e agreement 3/ To t h e To bank nonbank Total a f f i l i a t e s — public—' 0.8 1.2 1.9 ' 2.2 2.6 3.7 • 4.2 . 4.3 1.0 1.3 2.0 1.5 1.0 0.9 0.8 0.8 0.4 0.4 0.7 0.6 0.5 0.5 0.5 0.6 0.6 0.8 1.3 0.9 0.5 0.4 0.3 0.2 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.3 0.1 0.1 0.1 0.2 0.2 0.2 0.1 5.5 6.1 6.5 6.7 7.6 7.6 7.8 7.3 4.6 3.7 3.1 2.3 0.8 0.9 0.8 0.8 0.8 0.7 0.7 0.7 0.7 0.6 0.7 0.7 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.6 0.7 0.7 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 0.3 0.4 0.4 0.5 0.5 0.6 0.5 0.5 0.5 0.4 0.2 7/ 7/ 7/ 7/ 7/ 7/ 1/ 7/ 7/ 7/ 7/ 7/ 2.0 1.9 1.7 1.8 1.7 1.7 1.8 1.8 1.9 2.0 2.0 2.0 0.7 0.7 1.2 1.1 1.2 1.3 1.3 1.3 1.3 1.3 1.3 1.2 0.7 0.7 1.1 1.1 1.2 1.1 1.1 1.1 1.1 1.1 1.1 1.0 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.2 0.3 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 7/ 7/ 7/ 7/ 2.1 2.1 2.2 2.2 1.2 1.2 1.1 0.9 1.0 1.0 1.0 0.9 0.2 0.2 0.1 0.1 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 1 V . I n c l u d e s an i n d e t e r m i n a t e amount of F e d e r a l f u n d s p u r c h a s e s from U . S . A g e n c i e s of f o r e i g n b a n k s . I s s u e d by a bank h o l d i n g company or o t h e r bank a f f i l i a t e s . Loans or p a r t i c i p a t i o n , i n p o o l s of l o a n s s o l d under r e p u r c h a s e a g r e e m e n t s . To bank h o l d i n g c o m p a n i e s , a f f i l i a t e s , or s u b s i d i a r i e s . To o t h e r t h a n banks and b a n k - r e l a t e d a f f i l i a t e s o r s u b s i d i a r i e s . Patly estimated. Less t h a n $50 m i l l i o n . Customer guaranteed I n e l i g i b l e paper acceptances T h e s e Data Are N o t . f o r P u b l i c a t i o n . . 7/ i , I 7/ TABLE 5 Loans at A l l Commercial Banks Seasonally Adjusted Business 7/ Date (In Consumer Real Estate b i l l i o n s 6/ of d o l l a r Security Nonbank , financial Agriculture s ) 31 31 31 31 78.6 86.2 95.9 105.7 53.8 58.4 64.9 , 7 0 . 3 ^ (old) 69.8 (new) 38.2 40.0 44.8 48.1 7.9 9.2 10.2 9.1 12.0 11.3 12.4 / 13.1- (old) 13.6 (new) 8.7 9.5 10.0 10.6 1 9 7 0 - - S e p t . 30 Oct. 28 Nov. 25 31 Dec. 109.4 109.4 109.3 109.6 71.2 71.5 71.8 72.3 49.4-/ 49.6 49.5 49.7 9.1 9.7 9.5 10.3 14.7 14.5 14.7 14.3 11.3 11.3 11.4 11.4 27 24 31 28 26 30 (old) 110.3 111.3 111.1 111.7 112.6 112.1 72.8 73.4 74.0 74.7 75.5 76.64/ 75.9=-' 50.0 50.2 50.4 50.6 50.9 51.1 10.3 / 10.59.9 9.3 8.8 9.5 14.9 15.0 15.2 15.4 15.8 15.9 11.3 11.4 11.6 11.7 11.8 12.0 28 25 29 27 24 31 113.2 115.2 116.2 116 .6 116.0 115.5 76.7 77.6 78.6 79.5 80.5 81.4 51.5 52.1 52.8 53.3 54.0 54.6 8.8 9.5 10.3 10.4 10.3 11.0 16.0 15.9 15.2 15.6 15.8 15.3 12.1 12.2 12 . 3 12.4 12.6 12.8 26 23 29 116.4 117.3 118.1 119.4 82.4 83.3 84.4 85.4 55.1 55.7 11.7 12.1 12.6 12.2 16.7 17.1 12.9 13.0 13.2 13.3 1966--Dec. 1967--Dec. 1968--Dec. 1969--Dec. 1971--Jan. Feb. Mar. Apr . May June July Aug. Sept. Oct. Nov. Dec. 1972--Jan. Feb. Mar . (new) A p r i l 26 1/ 2/ 3/ 4/ 5/ y, p 56.2 56.7. 17.5 16.9 p - Preliminary Data are comparable with previous months. I n d i v i d u a l l o a n i t e m s a r e g r o s s t h r o u g h o u t and t h e e f f e c t of c o n s o l i d a t i o n i n J u n e 1969 on a n y o n e l o a n i t e m w a s n o m i n a l . R e a l e s t a t e l o a n s d e c r e a s e d by $ 5 0 0 m i l l i o n on D e c e m b e r 3 1 , 1 9 6 9 , a n d l o a n s t o n o n b a n k f i n a n c i a l i n s t i t u t i o n s i n c r e a s e d by $500 m i l l i o n d u e t o change i n method of r e p o r t i n g m o r t g a g e loans held under r e p u r c h a s e agreements. Consumer c r e d i t d a t a a d j u s t e d i n J u l y t o e x c l u d e a b o u t $500 m i l l i o n of consumer p a p e r s o l d by f i n a n c e companies t o t h e banking system but c l a s s i f i e d as loans t o nonbank f i n a n c i a l i n s t i t u t i o n s on b a n k r e c o r d s / Subsequent repayments a r e a l s o i n c l u d e d in loans t o nonbank f i n a n c i a l i n s t i t u t i o n s . I n c l u d e s $ 8 0 0 m i l l i o n S y s t e m m a t c h e d s a l e - p u r c h a s e t r a n s a c t i o n s o u t s t a n d i n g on F e b . 2 4 . B e g i n n i n g J u n e 3 0 , 1 9 7 1 , F a r m e r s Home A d m i n i s t r a t i o n i n s u r e d n o t e s t o t a l i n g a p p r o x i m a t e l y $ 7 0 0 m i l l i o n a r e i n c l u d e d i n o t h e r s e c u r i t i e s ; previously, t h e y had b e e n i n c l u d e d i n r e a l e s t a t e l o a n s . S e r i e s r e v i s e d b e g i n n i n g J u l y 1971 t o r e f l e c t a d j u s t m e n t s t o December 1971 C a l l R e p o r t . D a t a r e v i s e d b e g i n n i n g J u n e 1967 t o r e f l e c t t r a n s f e r of " F e d e r a l f u n d s s o l d a n d s e c u r i t i e s p u r c h a s e d u n d e r a g r e e m e n t s t o r e s e l l w i t h o t h e r s " f r o m " b u s i n e s s l o a n s " t o a l l o t h e r l o a n s . I n many c a s e s , small changes did not a f f e c t rounded f i g u r e s . For back d a t a , see appendix t o t h i s r e l e a s e . Table 6 Changes i n Loans and I n v e s t m e n t s a t A l l Commercial Banks, S e a s o n a l l y A d j u s t e d 5 / ( I n b i l l i o n s of d o l l a r s ) 1971 Item 1972 May June July Aug. +3.0 +3.6 +5.0 +2.6 +4.7 +4.0 +4.8 +2.6 +5 .9 +5.7 +5.2 +7.7 +1.5 +0.3 . -0.4 -0.3 +2 .4 -1.2 -0.7 -1.0 -0.8 -0.3 +1.9 -1.0 +1.3 +1.2 +0.2 Other s e c u r i t i e s +2.3 +1.6 +1.6 +0.8-/ +1.4 -0.2 +1.7 +1.6 +1.1 +2.3 +1.5 +1.1 +1.6 -0.1 Loans 2/ +0.8 +1.7 +2.5 +1.74/ +2 .4 +5.6 +3.3 +4.0 +1.7 *+1.9 +5.1 +2.8 +4 .8 +1.5 6/ -0.2 +0.6 +0.9 -0.5 +1.1 +2.0 +1.0 +0.4 -0.6 -0.5 +0.9 +0.9 +0.8 +1.3 Real e s t a t e +0.6 +0.7 +0.8 +1.1^ +0.8 +0.9 +1.0 +0.9 +1.0 +0.9 +1.0 +0.9 +1.1 +1.0 Consumer +0.2 +0.2 +0.3 +0.2 +0.4 +0.6 +0.7 +0.5 +0.7 * +0.6 +0.5 +0.6 +0.5 +0.5 Security -0.6 -0.6 -0.5 +0.7 -0.7 +0.7 +0.8 +0.1 -0.1 +0.7 +0.7 +0.4 +0.4 -0.4 Nonbank f i n a n c i a l +0.2 +0.2 +0.4 +0.1 +0.1 -0.1 -0.7 +0.4 +0.2 -0.5 +1.4 +0.4 +0.4 -0.6 Agriculture +0.2 +t).l +0.1 +0.2 +0.1 +0.1 +0.1 +0.1 +0.2 +0.2 +0.1 +0.1 +0.2 +0.1 All other +0.3 +0,5 +0.5 -0.1 +0.6 +1.4 +0.4 +1.6 +0.3 +0.5 +0.5 -0.5 +1.4 -0.3 Total loans excluding s e c u r i t y 3/ +1.4 +2.3 +3.0 +1.0 +3.1 +4.9 +2.5 +3.9 +1.8 +1.2 +4 .4 +2.4 +4.4 +2.0 Total loans excluding s e c u r i t y and n o n bank f i n a n c i a l 3 / +1.2 +2.1 +2.6 +0.9 +3.0 +5.0 +3.2 +3.5 +1.6 +1.7 +3.0 +2.0 +4.0 +2.6 March April Loans and I n v e s t m e n t s 2/ +3.4 U. S. G o v ' t , Business 1/ 2/ 3/ 4/ 5/ 6/ securities 6/ Sept. . Oct. Nov. Dec. Jan. Feb. j March . April L e s s t h a n $50 m i l l i o n . Adjusted to exclude domestic interbank loans. I n c l u d e s $800 m i l l i o n System matched s a l e - p u r c h a s e t r a n s a c t i o n s on F e b r u a r y 2 4 . B e g i n n i n g J u n e 3 0, 1971, F a r m e r s Home A d m i n i s t r a t i o n i n s u r e d n o t e s t o t a l i n g a p p r o x i m a t e l y $700 m i l l i o n a r e i n c l u d e d i n o t h e r s e c u r i t i e s ; p r e v i o u s l y t h e y had b e e n i n c l u d e d i n r e a l e s t a t e l o a n s . Changes have b e e n a d j u s t e d t o t a k e a c c o u n t of t h i s r e c l a s s i f i c a t i o n . D a t a r e v i s e d b e g i n n i n g J u l y 1971 t o r e f l e c t a d j u s t m e n t s t o December 31, 1971 C a l l R e p o r t . Data r e v i s e d b e g i n n i n g J u n e 1967 t o r e f l e c t t r a n s f e r of " F e d e r a l f u n d s s o l d and s e c u r i t i e s p u r c h a s e d u n d e r a g r e e m e n t s t o r e s e l l w i t h o t h e r s " f r o m b u s i n e s s l o a n s " t o " a l l o t h e r l o a n s " . I n many c a s e s , s m a l l c h a n g e s d i d n o t a f f e c t rounded f i g u r e s . For back d a t a , s e e a p p e n d i x t o this release . T a b l e 6A Changes i n Loans and I n v e s t m e n t s a t A l l Commercial B a n k s , S e a s o n a l l y A d j u s t e d 5 j A d j u s t e d f o r Loans S o l d t o A f f i l i a t e ( I n b i l l i o n s of d o l l a r s ) 1971 Item 1972 March April May June July Aug. Sept. Oct. Loans and I n v e s t m e n t s 2/ +3.4 +2.8 +3.7 +5.2 +2 .4 +4.6 +4.3 +4.7 +2.5 +6.0 +5.8 +5.1 +7.5 U. S. G o v ' t , +0.3 -0.4 -0.3 +2.4 -1.2 -0.7 -1.0 -0.8 -0.3 +1.9 -1.0 +1.3 +1.2 +1.4 -0.2 +1.7 +1.6 +1.1 +2.3 +1.5 +1.1 +1.6 +2.2 +5.4 +3.6 +3.9 +1.6 *+1.8 +5.3 +2.8 +4.6 +1.0 +2.0 +1.1 +0.3 -0.6 -0.7 +1.0 +0.9 +0.9 securities Other s e c u r i t i e s +2.3 +1.6 Loans 2/ +1.7 +1.6 -0.4 +0.6 Bus i n e s s 6 / +0.8^ / +2.6 +2.(A / +0.9 -0.5 +1.6 Real e s t a t e Consumer Security NOT AVAI LABLE Nonbank f i n a n c i a l Agriculture All other Total loans excluding s e c u r i t y 3/ Total loans excluding s e c u r i t y and n o n bank f i n a n c i a l 3 / 1/ 2J 3/ L e s s t h a n $50 m i l l i o n . Adjusted to exclude domestic interbank loans. I n c l u d e s $800 m i l l i o n System matched s a l e - p u r c h a s e t r a n s a c t i o n s on F e b r u a r y 2 4 . 5/ D a t a r e v i s e d b e g i n n i n g J u l y 1971 t o r e f l e c t a d j u s t m e n t s t o D e c e m b e r ' 3 1 , 1971 C a l l R e p o r t Table 7 Changes in Loans and Investments at A l l Commercial Banks, a t WeeklyReporting Banks, and a t Other Banks, Not S e a s o n a l l y Adjusted Adjusted for Loans Sold 4 / (In b i l l i o n s of d o l l a r s ) Item La§t Wednesday of March t o l a s t , Wednesday in Aori 1 i 1972 p 1971 1970 1969 1968 1967 1966 +4.0 -0.8 +1.0 +4.2 +1.9 -1.6 +2.7 +3.0 +2.2 +0.8 +1.6 +4.6 +5.7 -0.5 +0.9 +6.1 +3.8 -1.4 +0.7 +3.2 +2.1 -1.6 +2.0 +2.4 +2.2 +0.1 +1.1 +3.2 A l l l a r g e Banks 2 / 3 / T o t a l loans U.S. Gov 1 1. s e c u r i t i e s Other s e c u r i t i e s Total +2 .4 -1.0 +0.1 +1.5 -0.2 -1.5 +1.7 1/ +0.6 +1.0 +1.1 +2.7 +4.0 1/ +0.3 44.3 +2.0 -0.9 +0.3 +1.4 +0.7 -1.5 +1.4 +0.6 +1.1 +0.4 +0.7 +2.2 Other banks 2 / 3 / T o t a l loans U.S. Gov't, s e c u r i t i e s Other s e c u r i t i e s Total +1.6 +0.2 +0.9 +2.7 +2.1 -0.1 +1.0 +3.0 +1.6 -0.2 +0.5 +2.0 +1.7 +1.8 +1.4 ; -0.5 -0.5 -0.1 +0.6 +0.4 +0.6 ' +1«3 +1r8 +1.8 I End of December t o end of A p r i l +1.1 -0.3 +0.4 +1.0 1972 p 1971 1970 j 1969 1968 1967 1966 A l l commercial banks 2 / T o t a l loans U.S. G o v ' t , s e c u r i t i e s Other s e c u r i t i e s Total +5.6 -3.3 +4.7 +7.0 -2.6 -1.7 +8.0 +3.8 -4.7 -2.4 +2.9 -4.2 +3.8 -6.5 +0.8 -2.0 +0.5 -2.7 +2.3 +0.2 -0.6 1/ +5.2 +4 .6 +2.2 -4.0 +1.6 -0.3 A l l l a r g e banks 2 / 3 / T o t a l loans U.S. G o v ' t , s e c u r i t i e s Other s e c u r i t i e s Total +1.8 -2.8 +1.3 +0.3 -5.1 -2.1 +4.6 -2.5 -4.3 -1.0 +2.2 -3.1 +0.5 - 4 .6 -0.6 -4.7 -1.1 -2.7 +1.5 CM -2.3 +0.1 +4.4 +2.2 +1.0 -3.1 +0.7 -1.3 Other banks 2 / 3 / T o t a l loans U.S. Gov't, s e c u r i t i e s Other s e c u r i t i e s Total +3.9 -0.5 +3.4 +6 .7 +2.4 +0.4 +3.5 +6.3 -0.2 -1.3 +0.7 -0.9 +3.3 -1.9 +1.4 +2.7 +1.6 1/ +0.8 +2.4 +1.7 -0.1 +0.8 +2.4 +1.2 -0.9 +0.9 +1.0 Item NOTE: 1/ 2_/ 3/ 4/ CM 1 A l l commercial banks 2 / T o t a l loans U.S. G o v ' t , s e c u r i t i e s Other s e c u r i t i e s Total Data e x c l u d e domestic interbank l o a n s ; Call r e p o r t data f o r l a r g e banks used when a v a i l a b l e . Loans a d j u s t e d t o include a l l loans s o l d t o bank h o l d i n g companies, a f f i l i a t e s , s u b s i d i a r i e s , or f o r e i g n branches . Less than $50 m i l l i o n . Based on r e v i s e d r e p o r t i n g beginning J u l y 1969. Changes have been a d j u s t e d t o maintain c o m p a r a b i l i t y of s e r i e s . „ ^ ^ Based on r e v i s e d coverage b e g i n n i n g J u l y 1966, and January 1967, 1968, 1969, 1970, 1971, and 1972. S e r i e s r e v i s e d beginning J u l y 1971 t o r e f l e c t adjustments t o December 31, 1971 Table 8 Changes in Commercial and I n d u s t r i a l Loans at Large Commercial Banks ( I n m i l l i o n s of d o l l a r s ) B u s i n e s s of borrower Food p r o c e s s o r s Commodity d e a l e r s Trade concerns R e t a i l trade Wholesale trade Metals Primary m e t a l s Machinery T r a n s p o r t a t i o n equipment Other f a b r i c a t e d m e t a l s T e x t i l e s , apparel, e t c . Petroleum Chemicals Other durable manufacturing Other nondurable manufacturing Mining Public U t i l i t i e s , t o t a l Transportation Communication Other p u b l i c u t i l i t i e s Construction A l l o t h e r t y p e s of b u s i n e s s Bankers a c c e p t a n c e s Services Other F o r e i g n b u s i n e s s concerns Classified Unclassified T o t a l Change Late March to l a t e A p r i l 1972 1971 -70 -27 +82 +18 +64 -56 +10 +84 -128 -22 +56 -53 -4 +85 -19 +7 +407 +74 +106 +227 +91 +94 -137 +122 +109 -9 +584 +386 +970 -67 -121 +119 +66 +53 -48 +1 +113 -207 +45 -37 -1 +10 +4 -45 -74 -167 -211 +67 -23 +70 +214 -72 +225 +61 -15 -158 +68 -90 1970 Late December t o l a t e A p r i l 2 / 1969 1968 -4 +10 -30 -120 +205 +450 +106 +331 +99 +119 +135 +208 +50 +23 -29 +131 +49 -53 +65 +107 +72 +111 -6 +116 +138 +111 +104 +45 -71 +35 -94 +72 -198 -89 -95 -102 +73 +95 -176 -82 +60 +17 +68 +321 +178 +22 +144 -151 +41 +155 -12 -47 +367 + 1 , 2 4 0 +189 +175 +556 +1,415 -126 -108 +273 +154 +119 +161 +90 +80 -53 +44 +70 -3 +91 +48 +23 +179 +125 +87 +36 +2 +44 +167 -150 +101 +237 -14 +951 +109 +1,060 1972 1972 1970 1969 1968 -594 -176 +206 +177 +29 -225 +150 -167 -282 +74 +123 -285 +35 +129 -123 -212 -205 +59 +92 -356 +200 -212 -235 -25 +48 +126 -1,338 +539 -703 -430 -211 +9 +29 -616 -156 +508 +264 +244 +1,044 -420 -383 +254 +126 +128 +731 +352 +320 -45 +104 +395 -116 +207 -20 +379 -22 +154 +75 +172 +218 -135 +31 +98 -87 -558 - 1 469 1/ Four most comparable weeks used throughout. 2/ Changes are compiled from December 29, 1971; December 30, 1970; December 31, 1969; December 25, 1968; and December 27, 1967. These data cannot be linked w i t h a l l commercial bank data which are always for December 31. +68 +37 +576 -211 +242 -36 -417 +86 +328 -270 +274 +337 -62 +1,603 +152 +1,755 TABLE 9 Gross Loans and Investments a t A l l Commercial Banks -8/ (In b i l l i o n s of d o l l a r s ) Loans and Investments 1964--Dec. 1965--Dec . 1966--Dec. 1967--Dec. 1968--Dec. 1969--Dec. 1970—-Jan. Feb. Mar. Apr. May June July Aug. Sept. | Oct. Nov. Dec. 31 31 31 30 31 31 3/ 279.2 307.6 324.0 1/ 360.8 400.4 412.1 28 25 25 29 27 30 29 26 30 28 25 31 399.1 397.2 400.5 404.8 405.3 411.7 414.1 416.8 424.7 425.6 429.3 446.8 53.0 51.4 51.5 52 .3 52.6 51.6 53.5 55.1 55.8 57.2 58.3 61.7 70.6 70.8 72.7 74.3 74.3 75.6 75.7 77.1 79.5 81.0 82.5 86.1 439.5 442 .4 6 / 447.7 450.9 453.6 464.8 61.5 61.4 61.6 60.0 58.8 60.3 463.0 466.1 472 .0 476.5 479.9 497.9 490.1 492.4 500.7 505.1 1971—Jan*. Feb. Mar. Apr. May June 27 24 31 28 26 30 (old) 7/ (new) J u l y 28 Aug. 25 S e p t . 29 Oct. 27 Nov. 24 Dec. 31 ^ 1972—Jan. Feb. Mar. P Apr. Other U.S. G o v ' t , S e c u r i t i e s T o t a l Loans 63.0 38.8 177.4 59.5 44.9 203.2 56.2 4 8 . 8 2/ 219.0 1/ 2 / 62.5 61.5 236.8 64.5 71.5 264.4 54.7 71.3 286.1 26 23 29 26 p Real Estate 60.2 71.4 80.6 88.4 98.4 108.4 43.7 49.3 54.0 58.5 65.1 70.0 4 / 275 .6 275.0 276.3 278.2 278.4 284.5 284.9 284.7 289.5 287 .5 288.4 299.0 104.1 104.0 104 .9 105.5 105.2 108.4 107.3 107.1 109.4 108.4 108.8 112.5 70.1 70.1 70.1 70.2 70.3 70.6 70.8 71.1 71.6 71.9 72 .2 72.5 290.9 292.1 6/ 294.6 296.7 300.0 307.8 307.1 305.6 309.3 313.4 315.1 317.3 328.3 109.1 110.3 111.2 111.6 112 .4 114.4 59.3 58.7 58.7 60.0 61.0 64.9 87.1 88.9 91.5 94.2 94.9 96.7 97.4 98.2 98.1 99.9 101.5 101.6 104.7 62.7 61.9 62.4 61.6 104.8 106.2 108.4 109.4 322 .6 324.3 330.0 334.1 113.4 114.2 115.9 115.6 115.6 118.5 115.2 116.1 118.1 119.6 Nonbank Financial Institutions All Other!/ 31.0 35.7 38.3 40.0 44.9 48.2 10.9 13.3 13.3 12.5 13.7 15.1 15.7 16.8 15.3 17.5 20.7 23.3 48.0 47.8 47.8 48.1 48.4 22.1 21.9 21.9 22.0 22.5 23.1 22.9 22.2 22.9 22.4 23.3 25.0 Security 8.4 8.5 9.0 10.5 11.8 10.7 8.2 8.3 7.5, 8,2 8.6 2 / 9.3 9.7 10.3 8.6 7.9 8.4 8.9 9.3 9.4 9.1 12 .1 10.4 10.5 10.6 10.8 11.1 11.2 11.3 11.4 11.4 11.3 11.2 11.2 49.6 49.8 49.8 49.5 49.9 12 .7 12 .4 12.2 12 .7 12.3 14.4 14.9 14.4 15.1 14.3 14.3 15.9 72.7 73.0 73.6 74.3 75.2 76.5 75.8 76.8 77.8 79.0 80.0 80.9 81.6 10.1 9.9 10.0 9.1 8.5 9.7 11.0 11.2 11.5 11.7 12 .0 12 .2 49.6 49.5 49.7 50.3 50.8 51.4 14.5 14.3 15.2 15.2 15.4 17.0 23.9 23.9 23.4 24.5 25.7 26.7 9.3 10.0 10.1 10.1 12.9 8.6 12.4 12.5 12.5 12.4 12.4 12.5 51.9 52.6 53.2 53.6 54.1 54.8 15.9 15.5 15.5 82.3 82.9 83.9 85.0 11.5 11.4 12.3 12.3 12.6 12.8 13.0 13.3 54 .7 55.0 55.5 65.4 26.6 27.4 27.3 28.1 28.8 31.0 30.2 29,# 30.3 30.4 itt 16.9 16.1 16.3 16.9 17.1 p - Preliminary. r - Revised. Data exclude domestic i n t e r b a n k l o a n s . Consumer and " o t h e r loans" were p a r t l y estimated f o r a l l d a t e s . Other d a t a a r e p a r t l y estimated on a l l but June and December c a l l d a t e s . Beginning June 9, 1966, $ 1 . 1 b i l l i o n of balances accumulated f o r the payment of personal loans were deducted from time d e p o s i t s and " a l l Other" loans . Beginning June 30, 1966, about $1 b i l l i o n of p a r t i c i p a t i o n c e r t i f i c a t e s p r e v i o u s l y included in a g r i c u l t u r a l and " a l l o t h e r " loans were r e c l a s s i f i e d as " o t h e r s e c u r i t i e s . " Data r e v i s e d beginning J u n e , 1969, t o i n c l u d e a l l bank premises s u b s i d i a r i e s and ot her s i g n i f i c a n t majority-owned domestic s u b s i d i a r i e s ; e a r l i e r d a t a a r e f o r commercial banks o n l y . ' NOTE: 1/ 2/ 3/ •' 4/ 5/ Real e s t a t e loans decreased by $500 m i l l i o n on December 31, 1969, and loans t o nonbank f i n a n c i a l i n s t i t u t i o n s i n c r e a s e d by $500 m i l l i o n due t o change in method of r e p o r t i n g mortgage loans held under repurchase agreements. Consumer c r e d i t d a t a a d j u s t e d in J u l y t o exclude about $400 m i l l i o n of consumer paper sold by f i n a n c e companies t o the banking system but c l a s s i f i e d as loans t o nonbank f i n a n c i a l i n s t i t u t i o n s on bank r e c o r d s . Subsequent repayments a r e a l s o included in loans t o nonbank f i n a n c i a l i n s t i t u t i o n s . I n c l u d e s $800 m i l l i o n System matched s a l e - p u r c h a s e t r a n s a c t i o n s o u t s t a n d i n g on February 24. Beginning June 30, 1971, Farmers Home A d m i n i s t r a t i o n insured notes t o t a l i n g approximately $700 m i l l i o n a r e included in ot her s e c u r i t i e s ; p r e v i o u s l y they had been included in r e a l e s t a t e l o a n s . ' S e r i e s r e v i s e d beginning J u l y 1971, to r e f l e c t adjustments to December 31, 1971 Call Report I n d i v i d u a l loan category data are a v a i l a b l e f o r p u b l i c a t i o n only on a June and December Call data b a s i s TABLE 10 R a t i o s t o Total D e p o s i t s 1/ 4 / LOANS. DA T E U . S . Government s e c u r i t i e s maturing w i t h i n one year 54.0 55.1 54.5 56 .5 58.6 60.5 63.7 65.8 63.8 64.7 72.0 67.3 M e m b e r B a n k s Reserve City Banks New York City of City Chicago Other Country } Tota 1 55.6 67.3 58.2 58.2 48.2 56.5 65.9 60.8 59.0 50.3 55.7 65.0 58.0 57.7 50.2 57.7 67.9 61.4 60.1 51.7 67.4 159.9 62.1 63.3 53.8 161.9 69.3 64.4 65.0 56.0 165.4 75.9 70.2 68.7 57.9 167.9 83.5 77.0 70.2 59.2 65.8 79.9 70.8 68.1 58.2 (63.7) 66.8 83.5(76.3) 75.1 69.1 58.2 ( 6 9 . 8 ) 75.7 102.8(86 .4) 89.5 79.5 6 2 . 8 (66.2) 69.9 87.5(79.6) 80.6 73.3 60.2 1971- -Jan. 2 7* Feb. 24* Mar. 31* Apr. 28* May 26* June 30* J u l y 28* Aug. 25* Sept .29* . Oct. 27* Nov. 2^* 3 / (new) Nov. 24* Dec . 31* 67.2 67.3 66.1 66.4 66.7 66.1 66.8 66.8 67.2 66.8 67.1 67.6 65 .7 (66.2) (66.4) (65.6) (66.1) (66.5) (65.9) (66.5) (66.6) (66.8) (66.4) (66.6 ) (67.1) (65.6) 69.5 69.6 68.2 68.5 68.8 68.4 68.8 68.9 69.5 69.1 69.3 70.0 68.0 86.6(79.9) 88.0(82.3) 84.8(81.9) 84.7(82.5) 85.0(83.4) 84.0(82.3) 84.6(82.9) 85.4(84.3) 87.8(85.0) 87.1(83.5) 86.7(83.6) 89.0(85.8) 8 4 . 1 (83.2 ) 80.9 81.3 81.4 76.9 77.5 78.7 79.3 80.5 79.4 80.1 80.7 82.9 78.1 72.5 72.3 70.5 71.5 71.8 71.4 72.2 72.2 72.4 72.2 72.7 73.5 71.6 60.6 60.6 59.8 60,2 60.4 59.9 60.3 60.1 60.5 60.2 60.4 60.4 59.2 5.5 4.9 4.7 4.3 4.1 3.9 3.8 3.4 3.6 3.5 3.1 3.1 3.9 1972- -Jan. Feb. Mar. Apr. 66.5 66.5 66.7 66.9 (66.3) (66.3) (66.4) (66.7) 68.7 68.8 69.0 69.2 85.6(84.0) c 79.9 85.5(84.4) 81.7 85.1(83.4) 82.5 84.1(82.7) 81.9 71.9 72.3 72,8 73.4 60.0 60.3 60.3 60.2 c 3.6 c 3.9 4.0 n.a. All commercial banks 1959- -Dec. 1960- -Dec . 1961- -Dec. 1962- -Dec . 1963- -Dec . 1964- -Dec . 1965- -Dec . 1966- -Dec . 1967- -Dec. 1968- -Dec . 1969- -Dec . 1970- -Dec. 31 31 31 28 25 31 31 31 30 31*2/ 31*31* 26* 23* 29* 26* p A l l Commercial Banks 7 .4 8.7 11.2 9.5 7.5 8.0 7.3 6.1 6.4 6.1 5.0 5.7 i 1/ Total loans ( a d j u s t e d t o exclude loans t o banks); U . S . Government s e c u r i t i e s maturing w i t h i n one year e s t i m a t e d on b a s i s of Treasury survey of ownership; and t o t a l d e p o s i t s (adjusted t o exclude cash items i n p r o c e s s of c o l l e c t i o n ) . 2/ Beginning June 1969, t o t a l loans are reported g r o s s of v a l u a t i o n r e s e r v e s r a t h e r than net as p r e v i o u s l y r e p o r t e d . The higher loan l e v e l increased the r a t i o by about 1.3 percentage p o i n t s f o r a l l commercial banks. 3 / Loan data r e v i s e d t o exclude only loans t o domestic commercial banks. Previous data had a l s o excluded loans t o f o r e i g n commercial banks. Digitized4 /for FRASER Data r e v i s e d beginning J u l y 1971 t o conform w i t h December 31, 1971 C a l l Report. TABLE 11 Money S t o c k M e a s u r e s and D e p o s i t T u r n o v e r ( S e a s o n a l l y a d j u s t e d ; d o l l a r amounts i n b i l l i o n s ) i Currency 1964--December 1965--December 1966--December 1967--December 1968-December 1969--December "2 M3 M% p l u s M2 p l u s time dep. deposits Components of money s t o c k m e a s u r e s and r e l a t e d i t e m s plus a t comm. a t nonTime and NonU . S . Gov 1 1. demand . o t h e r t h a nl bank t h r i f t Demand s a v i n g s d e p o s i t s bank t h r i f t deposits 2/ 3/ d e p o s i t s — l a r g e CD's— institutions C u r r e n c y D e p o s i t s CD's Other T o t a l institutions ( a l l member) 160.5 273.8 422.9 34.2 126.3 13.3 113.3 126.6 149.2 5.3 168.0 298.1 459.4 36.3 131.7 16.7 130.1 146.8 161.3 4.4 171.7 314 .0 481.3 38.3 133.4 1 5 . 9 142.2 1 5 8 . 1 167.4 3.5 183.1 345.7 528.8 40.4 142.7 2 0 . 8 162.6 1 8 3 . 4 183.1 4 .6 197.4 378.0 572.6 43.4 154.0 23.6 180.6 2 0 4 . 2 194.6 4.2 203.7 386.8 588.3 46.0 157.7 1 1 . 0 183.2 1 9 4 . 1 201.5 4.9 M Turnover outside N.Y. C i t y (per c e n t ) 33.5 37.4 40.1 40.6 44.8 49.2 1970--July August September October November December 210.3 211.6 212.8 213.1 213.6 214.8 401.7 405.6 409.2 412.0 414.3 418.2 608.4 613.9 619.1 623.9 627.1 634.0 48.0 48.1 48.3 48.5 48.7 49.0 162.4 163.5 164.5 164.6 164.9 165.8 17.0 19.3 21.3 22.6 23.6 25.5 191.4 193.9 196.4 198.9 200.6 203.4 208.4 213.2 217.7 221.5 224.2 228.9 206.6 208.4 209.9 211.8 213.6 215.8 5.5 5.7 5.7 5.2 6.3 6.5 1971--January February March April May June July August September October November December 215.3 217.7 219.7 221.2 223.8 225.5 227.4 228.0 227.6 227.7 227.7 228.2 423.1 430.4 437.1 441.5 446.6 450.6 453.4 454.5 455.6 458.3' 460.8 464.7 642.2 653.4 663.9 672.5 681.0 687.8 693.8 697.6 701.2 706.5 711.6 718.1 49.3 49.7 50.0 50.5 50.8 51.1 51.6 51.7 51.9 52.2 52.2 52.5 166.0 168.0 169.7 170.7 173.0 174.5 175.8 176.3 175.7 175.5 175.5 175.7 26.6 27.5 28.1 27.8 28.5 29.4 30.4 30.8 31.6 32.7 32,2 33.4 207.8 212.7 217.4 220.3 222.8 225.0 225.9 226.5 228.0 230.6 233.1 236 .4 234.4 240.2 245.4 248.1 251.3 254.4 256.4 257.3 259.6 263.3 265.3 269.9 219.3 222.6 227.2 231.0 234.4 237.2 240.2 243.1 245.6 248.3 250.8 253.4 6.1 4.9 4.1 5.7 5.5 4 .3 5.1 5.8 6 .6 4 .7 5.4 6.2 r r r r r r r r r r r r 1972--January February March r April p 228.8 231.2 233.5 235.1 469.9 475 . 5 480.1 483.2 727 . 3 737.4 745.9 752 . 8 52.8 53.2 53.7 54.0 176.0 178.0 179.9 181.1 33,2 33.8 33.4 34.7 241.2 244.3 246.5 248.1 274.4 278.1 279.9 282.8 257.4 261.8 265.9 269.6 6.3 3.7 6.1 7.4 r 56 .3 r 56.2 r 57 .2 p .a. n .a . n.a. n .a . n .a. 54 .0 53.9 54.2 54.2 181.1 181.0 180.4 181.0 n .a. n.a. n.a. n.a . 7.6 8.2 6.4 6 .3 Week e n d i n g : April 1/ 2/ 3/ 5 12 19 26 p 235.1 234.9 234.6 235.2 482.8 482.3 482.4 483.7 33.4 34.2 35.0 35.3 247.7 247.5 247.9 248.5 281.1 281.7 282.9 283.8 53.6 52.5 53.0 53.4 51.6 52.4 52 .4 53.6 54.2 54.0 53.9 55.2 55.0 55.9 55.6 54.3 58.1 57.3 n.a. n.a. n.a. n .a . I n c l u d e s ( 1 ) demand d e p o s i t s a t a l l c o m m e r c i a l b a n k s o t h e r t h a n t h o s e due t o d o m e s t i c c o m m e r c i a l banks and t h e U . S . Government l e s s c a s h i t e m s i n t h e p r o c e s s of c o l l e c t i o n and F . R . f l o a t ; ( 2 ) f o r e i g n demand b a l a n c e s a t F . R . Banks; and ( 3 ) c u r r e n c y o u t s i d e t h e T r e a s u r y , F . R . Banks and v a u l t s of a l l c o m m e r c i a l b a n k s . I n c l u d e s i n a d d i t i o n t o c u r r e n c y and demand d e p o s i t s , s a v i n g s d e p o s i t s , t i m e d e p o s i t s open a c c o u n t , and time c e r t i f i c a t e s of d e p o s i t s o t h e r t h a n n e g o t i a b l e t i m e c e r t i f i c a t e s of d e p o s i t i s s u e d i n d e n o m i n a t i o n o f $ 1 0 0 , 0 0 0 o r more by l a r g e w e e k l y r e p o r t i n g c o m m e r c i a l b a n k s Includes P.lus t h e a v e r a g e of t h e b e g i n n i n g and end of month d e p o s i t s of m u t u a l s a v i n g s b a n k s and s a v i n g s and l o a n s h a r e s . TABLE 12 Period Total ConsumerI type time . 1 & savings Time and Savings Deposits ConsumerState P o l i t i c a l Large Savings type Negotiable Foreign O f f i c i a l time CD's 1/ etc. 4 '1 1966--Dec . Dec. 1967--Dec. Dec. 1968--Dec. Dec. 1969--Dec. Dec. 28 28 27 27 31 31 31 31 (old) (new) (old) (new) (old) (new) (old) (new) 89,495 89,639 102,809 102,991 111,900 112,103 96,589 96,787 65,733 65,864 73,686 73,858 79,443 79.637 77,616 77,812 47,099 47,213 48,647 48,781 49,016 49.161 46,486 46,632 18,634 18,651 25,039 25,077 30,427 30,476 31,130 31,180 15,659 15,642 20,330 20,330 22,821 22,820 10,919 10,919 8,103 8,133 8,793 8,803 9,636 9,646 8,054 *,056 1970--June July Aug. Sept. Oct. Nov. Dec. Dec. 24 29 26 30 28 25 30 (old) 30 (new) 99,676 106,494 109,725 113,640 114,803 116,447 119,442 120,206 77,348 78,435 79,070 80,722 81,150 81,554 82,776 83,473 46,174 46,345 46,330 46,808 47,016 47,332 48,032 48,479 31,174 32,090 32,740 33,914 34,134 34,222 34,744 34,994 12,976 17,900 20,174 22,242 23,545 25,201 26,074 26,125 9,352 10,159 10,481 10,676 10,108 9,692 10,592 10,608 1971—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. Dec« 27 24 31 28 26 30 28 25 29 27 24 29 (old) 29 (new) 123,102 125,842 129,175 129,339 131,114 131,890 132,953 133,828 136,159 137,159 137,980 140,933 141,259 85,168 87,319 90,809 90,745 91,671 92,657 91,918 91,848 92,410 92,770 93,374 94,516 94,810 49,142 50,453 52,974 53,047 53,430 53,651 53,145 52,989 53,314 53,601 54,014 54,543 54,738 36,026 36,866 37,835 37,698 38,241 39,006 38,773 38,859 39,096 39,169 39,360 39,973 40,072 27,189 27,488 27,523 27,219 28,071 28,526 30,303 31,600 33,036 33,676 34.072 33,951 33,951 10,745 11,035 10,843 11,375 11,372 10,707 10,732 10,380 10,713 10,713 10,534 12,466 12,497 1972--Jan. Feb. Mar. 26 23 29 142,835 144,123 144,863 96,365 97,617 99,402 55,723 56,425 57,616 40,642 41,192 41,786 33,852 34,011 33,457 12,618 12,495 12! 004 144,189 144,927 145,770 146,743 99,380 99,141 98,593 98,810 57,808 57,6-29 57,314 57,279 41,572 41,512 41,279 41,531 32,846 33,380 33,944 34,234 11,963 12,406 13,233 13,699 Week ending: 1972--April 5 12 19 26 p 1 / \TA Ct A f* 1 Q K 1 A /> <S 4" "i f m M A A M _ 1 4 1 i i g * < l 4 TABLE 13 Member Bank R e s e r v e s (Based on a v e r a g e s of d a i l y f i g u r e s ; i n m i l l i o n s of d o l l a r s ) Free reserves ( e x c e s s r e s e r v e s minus b o r r o w i n g s ) DATE All member R e s e r v e C i t y Banks New York C i t y of City Chicago Excess Reserves Other Country All member Borrowings All member Total reserves held seasonally adjusted All member Monthly Averages: 1959--December 1960--December 1961--December 1962--December 1963--December 1964--December 1965--December 1966--December 1967--December 1968--December 1969--December 1970--December 1971--Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 1972--Jan. Feb. Mar . r Apr. p NOTE: -424 669 419 268 209 168 -2 -165 107 -310 -829 -49 -109 10 -50 -62 19 -14 -70 -95 -22 -130 -203 9 -104 -4 -22 -11 21 -31 -8 -50 -5 -70 -9 3 -449 80 20 -52 -122 -103 -161 -159 -55 -180 -473 -222 237 583 471 394 334 315 238 140 187 70 -144 161 482 756 568 572 536 411 452 392 345 455 257 272 906 87 149 304 327 243 454 557 238 765 1,086 321 18,513 18,842 19,640 19,555 2 0,156 21,149 22,245 23,348 24,771 27,249 27,977 29,132 • -91 -127 -120 -8 -18 -322 -658 -606 -295 -153 144 58 19 15 -90 -21 -67 -127 -110 -111 -29 -56 -71 -10 -6 19 -25 3 2 -39 -29 -10 2 -14 -7 -282 -333 -155 -154 -45 -173 -449 -437 -280 -144 -112 -57 178 172 150 164 92 17 -92 -58 24 45 53 132 279 201 199 140 312 131 162 198 206 207 263 165 370 328 319 148 330 453 820 804 501 360 406 107 29,390 29,600 29,779 29,991 30,327 30,527 30,639 30,743 31,073 30,882 30,970 31,246 153 91 134 98 8 -5 -14 -23 -9 -5 -13 -17 13 130 17 38 141 9 144 100 173 124 233 207 20 33 99 109 31,772 31,616 32,032 32,657 - - Aggregate r e s e r v e s e r i e s has been a d j u s t e d to e l i m i n a t e changes in p e r c e n t a g e r e s e r v e requirements a g a i n s t d e p o s i t s , but r e s e r v e r e q u i r e m e n t s on E u r o - d o l l a r b o r r o w i n g s a r e i n c l u d e d b e g i n n i n g O c t o b e r 16, 1969, and r e q u i r e m e n t s on b a n k - r e l a t e d c o m m e r c i a l p a p e r a r e i n c l u d e d b e g i n n i n g O c t o b e r 1, 1 9 7 0 . TABLE 14-A L i q u i d A s s e t H o l d i n g s of P r i v a t e D o m e s t i c N o n f i n a n c i a l I n v e s t o r s * ( S e a s o n a l l y a d j u s t e d m o n t h l y a v e r a g e s ; a m o u n t s i n b i l l i o n s of d o l l a r s , r a t i o s i n p e r c e n t ) C u r r e n c y and cl e p o s i t s Total liquid assets Period 1 Time D e p o s i t s Total 2 Currency Demand deposits 3 4 Commercial banks 5 Thrift institutions 6 Total 7 REVISED SERIES Other l i q u i d a s s e t s U.S. s h o r t term N e g o t i a b l e Commercial marketable CD's paper Treasury securities 8 9 10 Savings bonds 11 1965--Dec. 1966--Dec . 1967--Dec. 1968--Dec. 1969--Dec. 1970--Dec. 1971--Dec. 557.7 588.2 637.5 694.6 719.7 770.6 850.5 447.4 469.6 516.0 559.6 576.2 623.6 709.8 36.3 38.3 40.4 43.4 46.0 49.0 52.5 115.5 117.3 125.2 135.2 138.1 144.7 153.4 125.2 136.8 156.2 174.2 177.0 198.8 232.2 170.4 177.3 194.2 206.8 215.2 231.1 271.7 110.3 118.6 121.5 135.0 143.5 147.1 140.7 15.5 15.0 19.5 22.7 9.1 23.2 30.2 7.1 10.2 11.5 14.2 20.8 19.5 17.7 38.2 43.3 39.5 46.8 62.5 53.0 39.2 49.5 50.1 51.0 51.4 51.1 51.3 1971--March June Sept. Dec . 792.8 816.8 831.6 850.5 653.6 678.6 692.6 709.8 50.0 51.1 51.9 52.5 147.8 152.8 153.5 153.4 213.0 220.7 224.0 232.2 242 .9 254.1 26 3 . 1 271.7 139.2 138.2 138.9 140.7 26.2 26.7 28.1 30.2 17.2 16.4 16.1 17.7 43.9 42.7 41.7 39.2 1971--Jan. Feb. March April May June 776.2 784.2 792.8 800.0 808.6 816.8 631.8 643.0 653.6 662.5 671.5 678.6 49.3 49.7 50.0 50.5 50.8 51.1 144.5 146.2 147.8 148.8 151.2 152.8 203.3 208.3 213.0 216.0 218.5 220.7 234.7 238.8 242.9 247.3 251.0 254.1 144.4 141.2 139.2 137.5 137.2 138.2 24.5 25.6 26.2 25.8 26.1 26.7 18.8 18.0 17.2 16.9 16.8 16.4 49.7 46.1 43.9 42.8 42.0 42.7 51.8 52 .5 53.1 53.7 51.4 51.6 51.8 52.0 52.2 52.5 823.3 82 7 . 6 831.6 838.3 842.8 850.5 684.8 688.7 692.6 698.1 703.0 709.8 51.6 51.7 51.9 52.2 52.2 52.5 153.9 154.1 153.5 153.3 153 .0 153.4 221.7 222.4 224.0 226.5 228.9 232 .2 257.5 260.5 263 .1 266 .1 268.9 271.7 138.6 138.9 138.9 140.2 139.8 140.7 27.3 27.5 28.1 29.2 28.9 30.2 15.8 15.6 16.1 16.7 16.8 17.7 42.7 43.0 41 .7 41.0 40.6 39.2 52.7 52.9 53.1 53.3 53.5 53.7 858.2 867.8 876.8 885.5 719.7 729.6 738.1 745.1 52.8 53.2 53.7 54.0 153.8 155.6 157.2 158.3 237.2 240.2 242.3 243.8 275.8 280.5 284.9 289.0 138.6 138.3 138.6 140.4 29.9 30.5 30.2 31.5 18.1 17.7 17.5 17.4 36 .6 35 .9 36 .5 36.7 53 .9 54.2 54 .5 54.8 July Aug. Sept. Oct. p Nov. P Dec . P 1972--Jan. Feb. Mar. Apr. p p p p 53.7 TABLE 14-B Currency and demand deposits to liquid assets 12 Period Bank liability to liquid assets 13 Ratios Time d e p o s i t s at t h r i f t i n s t i t u t i o n s to liquid assets 14 Liquid assets t o GNP 15 Currency and demand deposits t o GNP 16 1965--Dec. 1966--Dec. 1967--Dec. 1968--Dec. 1969--Dec. 1970--Dec . 1971--Dec . 27 .2 26.4 26.0 25.7 25.6 25.1 24.2 45.9 45.7 47.2 47.8 45.0 47 .6 48.9 30.6 30.1 30.5 29.8 29.9 30.0 31.9 78.3 76.8 77.2 77.1 76.5 76.5 77.9 21.6 20.7 20.3 19.9 19.7 19.5 19.3 1971—March June Sept. Dec. 1972--March 24.9 25.0 24.7 24.2 24.9 48.8 49.0 48.8 48.9 48.8 30.6 31.1 31.6 31.9 30.6 76.8 77 .7 78.6 78.6 78.6 19.2 19.4 19.5 19.2 18.9 1971--April May June 24.9 25.0 25.0 48.8 48.9 49.0 30.9 31.0 31.1 n .a. n .a . n .a . n .a. n.a. n.a . 25.0 24.9 24.7 24.5 24.3 24.2 48.9 48.8 48.8 48.8 48.7 48.9 31.3 31.5 31.6 31.7 31.9 31.9 n.a. n.a. n .a . n.a . n .a. n .a . n.a. n.a. n .a . n.a. n .a . n.a. 24.1 24.1 24.1 24.0 49.1 49.1 49.0 49.0 32.1 32 .3 32.5 32.6 n .a. n .a . n .a. n .a . n.a . n .a. n .a . n .a. July Aug. Sept. Oct. p Nov. p Dec. p 1972 - - J a n . Feb. March April pp p p TABLE 14-C Liquid A s s e t Holdings Sum of columns 2 and 7 . Sum of columns 3, 4 , 5, and 6 . Money s t o c k components a f t e r d e d u c t i n g f o r e i g n h o l d i n g s and h o l d i n g s by domestic f i n a n c i a l i n s t i t u t i o n s . The t h r e e columns add to Mg held by domestic n o n f i n a n e i a 1 sectors. D e p o s i t s a t nonbank t h r i f t i n s t i t u t i o n s , as p u b l i s h e d i n money s t o c k s t a t i s t i c s , plus monthly-average d e p o s i t s at credit unions. Sum of columns 8, 9, 10, and 11. N e g o t i a b l e c e r t i f i c a t e s of d e p o s i t s over $ 1 0 0 , 0 0 0 a t weekly r e p o r t i n g banks, e x c e p t f o r e i g n h o l d i n g s . Commercial paper held o u t s i d e banks and other f i n a n c i a l institutions. S h o r t - t e r m marketable U . S . Government s e c u r i t i e s e x c l u d ing o f f i c i a l , f o r e i g n , and f i n a n c i a l i n s t i t u t i o n h o l d i n g s . A l l i s s u e s due i n one year or l e s s , i n c l u d i n g bonds and n o t e s , p l u s a s l i d i n g proportion of i s s u e s due i n 13 t o 24 months. S e r i e s E and H s a v i n g s bonds held by i n d i v i d u a l s . Sum of columns 3 and 4 t o column 1. Sum of columns 4 , 5, and 8 t o column 1. Column 6 t o column 1. Column 1 t o GNP. Annual averages are based on 12-month a v e r a g e s of column 1 and annual GNP. Q u a r t e r l y averages are based on 3-month averages of column 1 and q u a r t e r l y GNP. Sum of columns 3 and 4 t o GNP. Annual a v e r a g e s 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 and q u a r t e r l y GNP. Appendix Table 1 Business Loans a t A l l Commercial Banks Not a d j u s t e d f o r s e a s o n a l Year Jan. Feb. Mar. Apr. May 1967 June July Aug. Sept. Oct. Nov. Dec. 84.5 84.1 82.6 84.0 83.8 84.6 88.4 94.7 98.4 1968 85.7 85.9 87.8 89.2 88.7 91.4 91.3 90.3 92 .1 92 .7 1969 96.5 97.7 99.7 101.6 101.8 104.4 103.1 102.0 103.8 103.6 104.4 108.4 1970 104.1 104.0 104.9 105.5 105.2 108.4 107.3 107.1 109.4 108.4 108.8 112 .5 1971 109.1 110.3 111.2 111.6 112 .4 114.4 1972 Revised A p r i l 1972. Appendix Table 2 Business Loans - A l l Commercial Banks S e a s o n a l l y a d j u s t e d , i n b i l l i o n s of d o l l a r s L a s t Wednesday of month e x c e p t June 30 and December 31 c a l l d a t e s Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 1959 35.5 35.7 35.8 36.2 37.0 37.4 38.1 38.3 38.5 1960 38.8 39.1 39.4 40.0 40.3 40.6 41.1 41.3 41.4 41.5 41.5 41.8 41.9 1961 42.0 42.1 42 .1 42 .3 42 .5 42.5 42.5 42.4 42 .7 42 .9 43.0 43.2 43.3 1962 43.9 44.0 44.1 44.6 44.8 45.2 45.5 45.7 46.3 46.7 47.0 1963 47.4 47.6 47.9 48.1 48.4 48.7 49.0 49.4 49.6 49.7 50.1 50.8 1964 51.5 52.1 52.4 52 .8 53.0 53.5 54.0 54.5 54.9 55.5 56.1 56.6 57.3 1965 58.4 59.5 60.7 61.8 62.8 63.6 64.4 65.3 65.9 66.8 67.6 68.4 1966 69.5 70.4 71.4 72.2 73.1 74.1 75.7 76.8 77.6 78.1 78.6 78.7 1967 78.6 79.6 80.1 81.0 81.6 82.0 82.9 83.6 83.7 84.3 84.3 84.9 1968 86.2 86.4 87.0 87.9 88.7 89.2 89.6 90.6 91.6 92.4 93.6 95.2 1969 95.9 97.6 98.7 99.9 101.2 102 .3 102.4 102.7 103.4 104.2 104.6 105.1 1970 105.7 105.2 105.1 105.1 105.3 105.5 106.2 107.0 108.5 109.5 109.4 109.3 1971 110.3 109.6 111.3 111.1 111.7 112.6 112.1 Revised A p r i l 1972. Appendix Table 3 l i s t 0 Wei n e s d l y 8 I n t h ^ exclpt" Jun^ % a ^ D e c t m i e f f l I f l f dates®1 (In b i l l i o n s of d o l l a r s ) Year Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec . 1959 7.1 7 .2 7.5 7.6 7.8 7 .9 8.2 8.3 8.6 8.8 8.8 1960 8.8 8.8 8.6 8.7 8.7 9.0 9.0 8.8 8.8 8.9 8.9 9.0 9.3 1961 9.2 9.0 8.7 9.1 9.6 9.8 9.5 9.4 9.8 9.9 10.2 10.6 1962 10.3 10.5 10.4 10.7 11.1 11.3 11.0 11.1 11.4 11.2 11.0 11.3 1963 10.6 10.5 10.4 10.9 11.0 11.8 11.5 11.5 11.6 11.6 11.7 12 .4 1964 11.8 11.9 12.1 12.7 12 .9 14.0 13.2 13.2 13.6 13.8 14.2 15.7 1965 15.0 15.3 15.3 15.4 15.9 16.2 15.8 16.0 16.3 16.0 15.8 16.8 1966 16.0 15.8 15.8 16.1 16.9 15.9-/ 15.4 15.1 15.0 14.7 14.6 15.3 1967 14.7 14.5 14.3 14.8 15.3 15.9 15.5 15.0 15.1 15.2 15.6 17.5 1968 16.3 16.1 16.0 16.8 17.3 18.4 17 .8 17.8 18.4 18.6 19.6 20.7 1969 19.4 19.4 19.6 20.4 21.8 22.4 21.6 21.4 21.2 21.4 21.6 23.3 1970 22.1 21.9 21.9 22.1 22.5 23.1 22.9 22.2 22.9 1971 23.9 23.9 22.4 23.3 23.4 25 .0 24.5 25.7 26.7 Revised A p r i l 1972. * " S e r i e s r e v i s e d b e g i n n i n g January 1959 t o i n c l u d e loans t o f o r e i g n commercial banks which had p r e v i o u s l y been excluded from the a d j u s t e d loan s e r i e s . 1 / Beginning June 1966, $ 1 . 1 b i l l i o n of b a l a n c e s accumulated f o r the payment of p e r s o n a l loans and $800 m i l l i o n of p a r t i c i p a t i o n c e r t i f i c a t e s were excluded from "other l o a n s " . Appendix Table 4 "All Other Loans11 1/ S e a s o n a l l y a d j u s t e d , in b i l l i o n s of d o l l a r s Last Wednesday of month e x c e p t June 30 and December 31 c a l l d a t e s Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 1959 7 .4 7 .4 7 .8 7 .6 7.7 7.6 8.1 8.4 8.5 8.7 8.7 8.7 1960 9.0 8.9 8.9 8.8 8.8 8.8 8.7 8.9 8.8 8.8 8.8 9.1 1961 9.3 9.4 9.1 9.3 9.4 9.5 9.5 9.6 9.5 9.9 10.1 10.1 1962 10.5 10.9 10.8 10.9 11.0 10.9 11.1 11.2 11.3 11.1 11.0 11.0 1963 10.9 10.9 10.7 10.9 10.9 11.2 11.4 11.5 11.6 11.7 11.8 11.7 1964 12 .4 12.5 12 .3 12.7 12 .6 13.0 13.4 13.3 13.7 13.8 14.1 15.2 1965 15.7 15.9 15.1 15.5 15.4 15.6 16.1 16.0 16.1 16.1 15.7 16 .2 1966 16 .4 16.4 16.2 16.3 16.5 15 M~ 15.0 14.9 14.9 14 .8 14.9 14.7 1967 15.2 14.9 14 .8 15.2 14.9 14.9 14.9 14.9 15.2 15.6 16.1 16.7 1968 16.7 16.5 16.8 17.2 16.8 17.2 16.0 17.6 18.4 19.3 20.1 20.0 1969 19.6 19.4 20.6 20.9 21.4 21.1 20.8 21.3 21.5 22 .3 22 .2 22 .5 1970 22.4 22.0 22.9 22.5 22.1 21.8 22 .2 21.9 23.2 23.2 24.0 24.2 1971 24.2 24.1 24.3 24.9 25.3 25.3 25.3 Year Revised A p r i l 1972. 1/ Beginning June 1966, $ 1 , 1 b i l l i o n b a l a n c e s accumulated f o r the payment of personal loans and $800 m i l l i o n of p a r t i c i p a t i o n c e r t i f i c a t e s were e x c l u d e d .
@FedFRASER