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la.? Not for publication «# ,. ~ f > e Z y ' m BANKING AND M O N ^ A S Y ^—^ O e M E ^ M T S IN APRIL 1964 Seasonally adjusted loans and investments at all commercial banks declined somewhat in April following substantial growth earlier in the year. Reductions in holdings of U. S. Government securities and declines in security loans were offset in part by continued expansion in most other loan categories. The seasonally adjusted money supply increased considerably following little net change over the two previous months. Time and savings deposits rose further but the increase was below the reduced growth in March. U. S. Government deposits declined. Free reserves rose somewhat in April as borrowings were reduced. Seasonally adjusted required reserves on a monthly average basis showed little further change. Bank credit. Seasonally adjusted commercial bank credit declined $2.3 billion in April following rapid expansion in February and March. Holdings of U. S. Government securities declined $3.5 billion and loans to security dealers, $800 million, following substantial increases in March associated in part with Treasury financing. Commercial banks were allotted nearly all of the April 8 issue of $1 billion of Treasury bills (50 per cent payable in credit to Tax and Loan Accounts) and about $850 million of the $1 billion notes (100 per cent payable in credit to Tax and Loan Accounts). However, heavy sales of Governments over the month and redemptions of maturing bills in mid-April more than offset acquisitions. Seasonally adjusted loans, excluding those on securities, increased $1.9 billion, somewhat more than in earlier months this year. Holdings of non-Government securities increased only slightly further. Over the first four months of 1964 total commercial bank loans and investments increased at an annual rate of 5.4 per cent slightly less than in the corresponding period last year, but appreciably below the 8 per cent rate for the entire year. Loan growth has been more rapid this year than in early 1963 but reductions in holdings of U. S. Government securities have been larger and growth in holdings of other securities much smaller. Seasonally adjusted business loans at all commercial banks increased $700 million in April following a moderate reduction in March. Business borrowing over the mid-March tax and dividend payment period had been smaller than usual and subsequent repayments were also presumably smaller, thus providing a smaller than usual offset to new borrowing. So far this year, growth in business loans has been at an annual rate of 6.3 per cent, a little faster than in the corresponding months last year, but considerably slower than in late 1963. At city banks, over the five weeks ending April 29, outstanding loans to metals concerns declined less than usual and those to the miscellaneous manufacturing and mining groups rose more than usual. Loans to V - 2 # - public utilities continued to decline at about last year's pace but more slowly than in most recent years. In the seasonal industry groups, repayments by food processors and commodity dealers were larger than usual and new borrowing by trade concerns smaller. Real estate and consumer loans at all commercial banks continued to show substantial expansion through April. Growth in real estate loans exceeded that of early 1963 but expansion in consumer loans was somewhat slower. "Other loans" also increased substantially in April, reflecting in part bank purchases of about $350 million of Export-Import Bank certificates late in the month. £ $ Seasonally adjusted security loans declined $800 million in April, following a roughly comparable increase in March. At city banks, loans to U. S. Government security dealers declined whereas ordinarily such loans increase, and expansion in loans for purchasing and carrying non-Government securities was much smaller than usual. # Deposits and turnover. The seasonally adjusted money supply increased $600 million in April, following little over-all change since January. Through the first four months of the year, growth was at an annual rate of 3.7 per' cent, about the same as over the year 19&3. U. S. Government deposits at commercial banks, which had increased more than usual over the first quarter of the year, declined in April5 while the monthly average reduction was about the same as in April of the past three years, the decline in the latter part of the month was sharper. # Seasonally adjusted time and savings deposits at commercial banks increased $600 million in April, somewhat less than the reduced growth in March. Through April, expansion was at an annual rate of 11.8 per cent, somewhat below the 14.7 per cent rise over the year 1963. At city banks, the reduction in savings deposits was larger than in April last year and contrasted with an increase in 1962. A reduction in these deposits usually occurs at the mid-month associated with personal income tax payments ; in addition, there were presumably some withdrawals early in the month in connection with the AT&T financing. Outstanding negotiable CD's rose substantially, however, reflecting in part investment of AT&T financing proceeds. Since the beginning of the year, savings deposits at city banks have increased only $350 million, about one-third as much as in the corresponding months last year and less than one-quarter as much as in early 1962. Expansion in all other time deposits, however, has been slightly larger this year than in the comparable periods of the previous two years. The seasonally adjusted annual rate of turnover of demand deposits at banks in 343 centers outside New York increased to 36.0 (preliminary) in April, a new high for recent years. The previous peak had been 34.9 in October. Over the first four months of 1964, turnover averaged 6 . 7 per cent above the average for the corresponding months of 1963 but only 1.6 per cent above that for the last four months of 1963. S Bank reserves. Free reserves averaged $163 million in April, compared with around $100 million over the two previous months. Excess reserves at $376 million were about the same as in March, but lower than in other recent months while borrowings declined further to an average $213 million. The effective rate on Federal funds was below 3-1/2 per cent on several days in April, both early and late in the month. Seasonally adjusted required reserves on a monthly average basis showed little further change. Reserves were absorbed through currency outflow and supplied principally through System purchases of U. S. Government securities and an increase in float. Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. May 18, 1964. I 4 L O A N S A N D I N V E S T M E N T S AT A l l EXHIBIT A, Poil I J COMMERCIAL BANKS Billions #1 dpllj^i lost Wednesday ol month, sea ion ally adjusted 210 101*1 tOAKS **# mVISUUMS # U.S. OOVl. SfCUBITUS OIHEt SitHllflfS 1 ms H5» 1160 H6I l»'l " i1illI I I I I I I IIIJw w 1**4 1143 Exhibit A - Part II Total 1/ Date (In. b i l l i o n s 1960—Dec. 31 1961—Dec, 31 1962—Dec.- 31 g/ 194.5 209.6 228.1 114.2 1963—Mar. 2? 235.0 232.5 234.8 240.3 237.8 238.5 240.7 241.0 244.0 246.5 137.8 137.4 138.9 141.8 142.4 142.5 145.0 146.1 148.5 150.3 246.0 249.2 253.2 250,-9 151.0 152.4 154.3 155.3 Apr. May June July Aug. Sept. Oct. Nov. Dec. 24 29 29 51 28 25 30 2? 31 2/ 1964—Jan. 29 p Feb. 26 p Mar. 25 p Apr. 29 P Other U. S. Gov't. securities securities o f d o 1 1 a r s) Loans 1/ 121.1 134.7 ' • . 59.6 64.7 64.3 20.7 66.7 63.9 64.2 66.0 62.4 62.1 61.7 60.4 '6-1.1 61.3 30.5 31.2 31.7 32.5 33.0 33-9 34.0 34.5 34.4 34.9 60.3 34.7 35.3 35.4 35.6 61.5 63.5 60.0 23.8 29.1 1/ Adjusted to exclude interbank loans. 2/ Estimated as of December 31. Note—Data revised beginning October 1963 on basis of December 20, 1963 call. 1.4 3. - EXHIBIT 6, Pari 1 L O A N S AT A L L C O M M E R C I A L B A N K S Billion# el d o l l a r ! Veil We dnsi doy ol month, leoionolly od|uiled IIAt I S U t I I l i u m iHil m 11 ill H h 19*9 1951 1960 mi 1961 1964 Exhibit B - Part II Business Date (IT Real estate b i l l i o n s Consumer T T Security d 0 1 1 a r s) 1960- -Dec. 1961- -Dec. 1962- -Dec. 31 31 31 y 42.1 44.1 47.9 28.7 30.3 34.2 20.5 21.3 23.6 4.3 5.2 6.1 1963- -Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 27 24 29 29 31 28 25 30 27 31 1/ 48.3 48.7 48.8 49.5 49.3 49.5 35.0 35.5 36.7 37.3 37.8 38.1 38.4 38.9 39.1 24.6 24.9 25.2 25.4 25.5 25.7 25.8 26.1 26.4 26.6 6.7 5.7 6.1 6.9 6.4 •6.3 7.2 6.5 7.3 6.6 1964-—Jan. Feb. Mar. Apr. 29 26 25 29 52.6 39.5 39.8 40.2 40.7 26.7 27.2 27.4 27.6 P p P P 50.0 50.7 51.5 52.4 53.0 52.8 53.5 36.1 7.3 7.0 7.9 7.1 ' 1/ Estimated as of December 31. ' . • Note—Data revised beginning October 1963 on basis of December 20, 19&3 call. # # # # # * # # Exhibit C Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted (In billions of dollars) Item Loans and Investments 2/ U. 3. Gov't, securities Other securities Loans 2/ Business 19 6 3 Mar. Apr. May +2.7 +1.3 +0.4 -2.8 +0.7 +0.8 +0.5 +1.0 -0.4 +1.5 1/ +0.4 +0.1 +2.9 July +0.5 +0.2 — 1.0 +0.4 -0.5 +0.1 +0.1 Consumer +0.3 +0.3 Security +0.1 Nonbank financial +0.3 Agriculture All other +0.9 +0.6 +0.3 +0.6 +0.7 -0.3 —3*6 +0.6 +0.5 | Aug. - : -0, j +0.6 +0.3 Total loans excluding j security and nonj bank financial 3/ |I +1.8 +0.3 Real estate Total loans excluding security 3/ June | Sept. ! Oct. Nov. | j : | + & & l j +0.3 +3.0 Ihl| "°-5 -0.4 i -1.3 +0.7 +0.2 —0.1 +0.5 +0.1 +0.5 +0.1 i +2.5 +1.1 +0.2 | +0.5 +0.7 | | + 1.2 I -0.2 +0.6 I I I +2.4 +1.8 •0.7 +1.4 +0.8 +0.9 +0.2 +0.4 +0.5 +0.2 +0.4 +0.1 +0.2 +0.1 +0.3 +0.3 +0.2 +0.1 +0.8 -0.5 -0.1 +0.9 -0.7 +0.8 -0.7 +0.2 +0.4 +0.6 -0.3 +0.2 +0.2 -0.1 r -0.1 r +0.1 -0.1 r -0.3 r -0.3 +0.2 +0.3 +0.2 r +0.1 r +0.1 +0.3 r +0.1 r y +0.2 ! -1.0 +0.3 1/ i | +0.3 j Feb. p I Mar. p I Apr. p +3^ +0.5 j 1 9 6 4 i j Dec. 4/ I Jan. p y I +4.0 +2,0 +0.1 +0.8 +0.7 +1.2 +1.4 +1.2 +2.1 +1.7 +0,9 +0.3 +1.3 +0.3 +0.6 j +2.0 +1.8 +1.7 +1.8 -3.5 | +0.2 i | —0.2 .'. +1.0 +0.7 . i +0.3 +0.4 I +0.5 +0.2 +0.2 + 0 . 7 j -0.3 +0.9 -0.8 +0.3 -0.3 j +0.2 +0.4 -0.1 —0.1 +0.2 | -0.2 +G. 1 +0.3 —0.1 j +0.3. + 0 a 4 -j | I +1.1 | +1.8 +1.5 +0.5 +0.8 I I I j +0.5 j l +0.1 j' +0.5 ! + 1.5 . +1.3 I! ! I +1.3 : +1.9 j I +0.9 j +2.0 NOTE—Individual loan items may not add to change in total loans because: (1) loan items are gross of valuation reserves while total loans are net and (2) loan items and total loans are independently seasonally adjusted. Seasonally adjusted loans, by category, are experimental and are subject to revision. V Less than 350 million. 2/ Adjusted to exclude interbank loans. 3/ Derived by addition of items and not by subtraction from total loans. 4/ Estimated as of December 31, 1963. r - Revision. Data revised beginning October 1963 on basis of December 20, 1963 call. Exhibit D Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, Not Seasonally Adjusted (In billions of dollars) _# Las?t Wednesday of March to lasit Wednesday of April Item All commercial banks Total loans U. S. Gov't, securities Other securities Total 1964 1963 1962 1961 1960 1959 1958 +1.9 -1.4 +0.2 +0.7 +0.5 -0.8 +0.7 +0,4 +1.4 +0.3 +0.7 +2.4 +0.5 +1.0 +0.1 +1.6 +1.3 +1.6 —0 .1 +2.8 3/+1.9 3/+0.4 3/±0^ 2/+2.7 +0.4 +3.2 +0.4 +4.1 +0.8 -1.1 -0.2 —0.8 +o e 6 -0.4 +0.4 -0.1 +0.6 +0.9 +0.1 +0.8 +0.1 +1.0 +0.6 +1.5 -0.1 +2.0 +1.0 +0.2 +1.2 y • +2.4 +0.2 +2.7 +0.7 +1.0 +0.4 +0.1 +1.5 +0.4 +0.2 V +0.7 +0.1 y+0.9 y+0.4 y+0.1 y+1.5 +0.4 • +0.8 +0.2 +1.4 Weekly reporting banks Total loans Uo So Gov't, securities Other securities Total —0.3 Other banks Total loans U. S. Gov't, securities Other securities Total +1.1 —0.3 +0.2 +1.0 y +0.1 +0.8 4-0.6 Vn +0.8 y End of December to end of April Item 1964 2/ ^ 1963 1962 1961 1960 1959 y+1.8 y-2.8 3/+0.3 All commercial banks Total loans U. S. Gov't, securities Other securities Total +0.8 -3.3 +0.7 -1.8 —1.0 —2.4 +2.1 -1.3 +0.1 -1.9 +2.2 +0.4 -2.0 -0.3 +0.9 -1.3 +0.4 -3.1 -0.5 -3.3 y-0.6 Weekly reporting banks Total loans U. S. Gov't, securities Other securities Total -0.8 -2.3 +0.4 -2.8 -2.2 -1.7 +1.5 -2.3 -1.0 —2»1 +1.8 -1.4 —2.0 -0.2 +0.8 -1.5 -0.8 -1.7 -0.2 -2.7 +0.3 -2.8 +0.3 -2.2 Other banks Total loans U. S. Gov't, securities Other securities Total +1.6 —1.0 +0.3 +1.0 +1.2 —0.7 +0.6 +1.0 +1.1 +0.1 +0.4 +1.8 —0.1 +0.1 +0.2 +1.2 —1.4 -0.3 —0.6 yy y v y+1.6 y y+1.5 1958 -1.3 +4.6 +1.4 • +4.7 -1.7 +4.1 +1.0 * +3.5 +0.4 +0.5 M +0.4 • +1.2 NOTE—Data exclude all interbank loans; call report data for weekly reporting banks used when available. 1/ Less than $50 million. 2/ Based on estimated data for December 31, 1962 and December 31, 1$63« 3/ In April 1959, total credit increased about $200 million as a result of structure changes; loans increased $120 million; Government securities $60 million; and other securities $20 million. In January 1959, total credit increased over $400 million as a result of bank structure changes; loans, $300 million; U. S. Government securi ties, $100 million; and other securities, $100 million. 0 # # # # # # * # # # # Exhibit E Changes in Commercial and Industrial Loans at Weekly Reporting Banks (In millions of dollars) Business of borrower End of March to end of April End of December to end of April 1964 1963 1962 1961 1960 1964 1963 1962 1961 1960 Food processors Commodity dealers Trade concerns Total -131 -137 + 19 -249 -119 - 99 +126 — 92 -137 - 23 + 65 - 95 -161 -152 - 51 -364 -212 —145 +105 -252 -590 -391 - 17 -998 -507 -147 - 25 -679 -491 -102 + 62 -531 -412 -153 -205 -770 -517 -507 +274 -750 Metals and products Textiles, apparel, etc. Petroleum, coal, etc. Other manufacturing and mining Public utilities Construction All other types of business Bankers' acceptances Other, mainly services - 36 - 27 + 23 -127 + 23 + 28 -164 + 22 + 30 -226 - 32 + 42 + 5 — 46 + 2 +184 +184 + 39 - 10 +216 + 87 + 96 +254 + 8 -102 +137 + 139 +758 +215 - 36 + 77 - 44 + 47 - 2 - 45 + 75 +131 -171 + 75 + 36 -130 + 19 + 54 - 42 + 28 - 88 -467 + 86 +347 -297 + 11 +238 ==430 + 63 + 99 -251 - 21 +209 -100 + 40 - 18 +115 n.a. + 15 n.a. + 40 n.a. + 73 n.a. +106 - 65 + 60 n.a, + 73 n.a. +298 n.a. + 78 n.a. + 1 n © &« n.a. n.a. n.a. +171 n.a. n.a. n.a. n.a. Classified Unclassified -226 +111 - 26 +115 -159 + 82 -615 + 98 -179 + 65 -954 +218 -263 + 93 -234 + 93 -471 + 50 +413 t 64 Total change -115 + 89 - 77 -517 -114 -736 -170 -142 -421 +477 2/ Five weeks used throughout. # # # * # • m • m m Exhibit F Loans and Investments at All Commercial Banks (In billions of dollars) Loans and investments Date 1957—Dec. 19^5—Dec« 1959—June June Dec. 19o0—Dec• 1961—Dec. 1962—Dec. 31 196^——Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 19o4—Jan. Feb. Mar. Apr. •. Gov't. Other Total loans securities 17.9 20.6 20.6 20.6 20.5 20.9 23.9 29.3 93.2 97.5 102.8 102.8 110.0 116.7 123.9 137.9 31 24 (old) 24 (new) 169.3 184.4 164.2 184.2 31 (est.) 198.5 214.4 233.6 58.2 66.4 60.9 60.9 58.9 61.0 66. o 66.4 30 27 27 24 29 29 229.1 230.4 231.9 232.3 233.6 239.1 66.2 65.3 64.8 64.0 63.0 63.5 29.5 29.9 30.7 31.4 31.7 32.4 133.4 135.2 136.4 136.9 138.9 143.1 31 28 25 30 27 31 (est.) 237.8 237.1 62.5 60.8 61.8 62.0 62.3 63.4 32.9 33.7 34.2 34.5 34.1 35.1 142.4 142.5 146.0 146.0 148.6 154.0 29 26 25 29 246.2 247.2 249.9 34.6 149.5 150.6 152.8 154.7 311/ 31 30 P p p p 189.5 241.9 242.4 245.0 252.4 250.6 61.1 61.5 61.5 60.1 j I 35.1 j 35.6 35.8 Busines, j j | ! ! j | |i i 1 estate Security Farm Consumer 40.5 40.4 42.5 37.8 40.2 43.1 45.2 49.1 23.1 25.3 26.9 26.9 28.1 26.7 30.3 34.3 4.2 4.7 4.1 4.1 4.9 5.1 6.2 7.3 4.1 5.0 5.0 5.0 5.0 5.7 6.2 7.1 15.8 15.9 17.5 17.5 18.8 20.6 21.4 23.7 47.3 47.7 48.6 48.6 48.8 49.9 34.5 34.7 34.9 35.4 36.0 36.7 5.6 6.5 6.0 5.8 6.0 6.9 r7.4 7.4 7.5 r7.4 7.5 7.5 23.8 24.0 24.2 24.7 25.1 25.5 49.0 49.2 50.1 50.6 51.9 53.7 37.3 37.8 38.2 38.6 39.0 39.2 6.4 6.1 7.4 6.5 7.0 7.9 r7.2 6.8 7.0 7.3 7.4 7.4 51.8 39.5 39.8 40.1 40.6 7.1 6.9 7.1 7.2 7.5 7.4 7.5 7.6 52.4 53.2 53-3 , | i i I I | Nonbank i All oth< financial institutional i 5.9 7.1 7.1 | j | 7.3 i 7.5 | 7.7 i ! 7.6 7-b 5.6 : j | ; , 25.7 26.0 26.1 26.3 26.5 26.7 ! §-9 I 26.6 26.6 27.0 27.4 | I 8.5 8.0 I , i I i I i I o-7 9.1 §•! C.b 10 2 ' 8.6 5 -8 9.3 9.3 | ; | 7.2 8.2 8.8 7.6 0.1 b.7 9 . 0 10.7 r10.1 10.0 9.9 r10.2 10.6 11.0 r10.6 10.6 11.0 j j i 11.1 ! 11.3 I 11.3 11.6 11. 4 11.5 12.2 I 1/ Structure changes in 1959, on balance through August, added almost 31 billion total credit: $600 million in loans; 6300 million in U. 5. uovernment securxties; and %100 million in other securities. Real estate loans increased about #300 million; business loans S1G0 million; consumer loans a100 million; an other loans 3100 million. • „ ^ NOTE—Data exclude interbank loans. Total loans are after and types of loans before deductions for valuation reserves. Consumer and^ other loans are parw-j estimated for all dates. Other data are partly estimated on all but June and December call dates. Beginning June 24, 1959, "business loans ana all otner loans" have been revised to exclude loans to nonbank financial institutions. Data revised beginning October 1963 on basis of December 20, 19o3 call. Exhibit G Ratios to Total Deposits _1/ U. S. Government securities maturing within one year L O A N S Date All commercial banks 31.2 1948- -Dec, 1949 Dec, 1950--Dec, 1951 -Dec. M 5 2 . -Dec. —Dec < 1954 —Dec < 1955' —Dec 1 1956. •Dec, 1957 •Dec, -Dec. 89. -Dec. 1960. -Dec, 1961. -Dec, 1962- -Dec, 28 31.1 35.8 37.2 39.3 40.5 40.3 45.8 48.8 49.7 48.4 54.0 55.1 54.5 56.5 10^3'—Mar. Apr. May June July Aug. 0 Sept. Oct. Nov. Dec. 27 24 29 29 31 28 25 30 27 25 57.0 57.1 57.9 57.7 57.8 58.4 58.6 58.4 59.0 58.6 1964——Jan. 0 Feb. Mar. Apr. 29p 26p 25p 29p 58.8 f 31 31 31 31 31 31 31 31 31 31 31 31 31 31 59.3 59.3 60.2 Total 31.3 30.9 36.1 37.6 39.9 41.1 40.7 46.7 50.1 51.0 49.4 55.6 56.5 55.7 57.7 58.1 58.2 58.9 58.7 58.7 59.4 59.6 59.5 60.2 Member banks Reserve city banks New York City of Other City Chicago 35.9 34.9 42.5 46.3 50.6 50.6 46.8 56.7 61.7 61.9 57.7 67.3 65.9 65.0 67.9 65.1 64.9 66.4 66.4 65.6 67.3 67.5 66.6 30.4 25.6 32.3 36.2 38.9 39.1 38.3 46.3 52.7 55.2 49.4 58.2 33.4 32.4 38.1 39.4 41.1 42.2 41.9 48.5 52.7 53.3 51.3 58.2 60.8 58.0 61.4 59.0 57.7 61.1 60.9 61.4 59.8 58.7 58.8 58.5 60.4 62.0 61.7 59.9 69.3 67.4 61.2 62.1 60.0 60.5 60.5 61.4 67.3 67.6 67.5 68.4 62.3 62.5 61.9 62.1 60.1 Country 27.1 28.5 31.5 32.1 33.9 36.1 37.1 40.7 42.6 44.1 44.4 48.2 50.3 50.2 51.7 62.7 63.0 63.5 63.3 52.7 52.9 53.6 53.6 53.7 53.8 53.8 53.6 54.0 53.8 63.9 64.2 64.1 65.1 53.9 54.5 54.7 55.6 61.8 61.3 61.7 62.6 All commercial banks I 14.2 19.2 15.2 9.8 11.7 16.9 10.0 5.1 7.5 8.4 8.3 7.4 8.7 11.2 9.5 V 7.5 7.6 7.8 7.4 7.2 7.4 7.2 7.4 7.3 7.5 7.2 6.8 6.5 n.a. Total loans (adjusted to exclude loans to banks)5 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), I/ Prior to 19511 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. y Estimated for December 31. J^E—Comparability of figures affected by changes in Federal Reserve membership, mergers, etc.5 by changes in the reserve classification of cities or individual banks, and by changes in items. Beginning August 1962, figures for both New York and the City of Chicago include banks formerly classified as central reserve city and three banks whose classification as reserve city is continued. ) - Preliminary. 1.4.3. DEPOSITS A N D i Sea ion ally ^*urnove*\ Annual CURRENCY A N D adjusted; deposits, - EXHIBIT TURNOVER semi-monthly averages H, Pari 1 OF D E M A N D D E P O S I T S of d a il y I i g u r e s , monthly BII11 o n I of dollars! rate MONEY SUPPLY TURNOVER 3 4 3 c e nl er i TIME AN0 SAVINGS DEPOSITS 0. S. G0V1 DEPOSITS *» ~T 1958 Not a d j u s t e d l e i l e o i o n a l ' 1*40 1951 1941 1942 1943 19*4 ^ All commercial bqnks. Exhibit H - Part II •Sea Period so n a 1 1 y M 0 n <i y A d j u s t e d S u p ]p l y Total Demand deposits Currency Time and savings deposits (2) (2) (2) (2) (2) 141.8 141.2 146.0 148.3 153.5 113.0 112.2 116.4 117.8 121.2 28.8 28.9 29.6 30.5 32.3 67.4 73.0 82.7 97.9 111.9 1964—Jan. (1) (2) Feb. (1) (2) Mar. (1) (2) Apr. (1) (2) 155.2 154.4 154.6 154.1 154.7 154.9 155.5 155.4 122.7 121.8 121.9 121.4 121.8 121.9 122.5 122.4 32.5 32.6 32.7 32.7 32.9 33.0 33.0 33.1 113.0 1959—Dec, 1960—Dec. 1961—Dec. 1962—Dec. 1963—Dec. 114.3 114.4 115.2 115.4 115.9 115.9 116.4 D a t a Turnover 343 centers outside NY 27.6 28.1 29.4 31.3 33.9 • 34.8 U. S. Gov't. deposits 5.2 5.3 5.5 6.1 6.1 5.3 3.0 3.8 33.7 P34.4 P36.0 5.7 4.7 7.1 5.6 2.7 1.4.3 - EXHIBIT I, Pari I TIME AND SAVINGS DEPOSITS AT MEMBER BANKS IN LEADING CITIES Wednesday figures Billions ol d o l l a r s *«: TOTAl TIMI AND SAVINGS DEPOSITS SAVINGS m o s m TIME DEPOSITS Of INDIVIDUALS, PAtTNEtStttPS, AND (OBPODATIONS *1*1* TIME DEPOSITS IttS Exhibit I - Part II T i m e a n d S a v i n g s Period Total (I n 1961- -Apr. Dec. 1962—-Dec. 1963--Dec. Savings m i l l i o n s D e p o s i t s Individuals, Other time partnerships, deposits 1/ arid corporations of d 0 1 1 a r s) 26 27 26 31 38,175 41,472 50,011 59,227 27,819 30,082 34,712 38,083 1964--Jan. 29 Feb. 26 Mar. 25 60,276 60,930 61,414 38,131 38,291 38,566 14,057 14,390 14,513 61,446 61,670 61,510 61,957 62,223 38,704 38,672 38,483 38,459 38,437 14,418 14,625 14,508 ' 14,757 14,950 Apr. 1 8 15 22 29 2/ • 5,480 5,969 9,080 13,310 4,876 5,421 6,219 7,834 • 8,088 .8,249 8,335 8,324 • 8,373 8,519 8,741 8,836 Includes States and political subdivisions, U. S. Government, foreign governments and official institutions, and interbank. Exhibit J Member Bank Reserves (Based on averages of daily figures; in millions of dollars) Excess reserves Free reserves (excess reserves minus borrowings) Date All member Monthly averages: 1956—December 1957—December 1958—December 1959—December 1960-*—December 1961—December 1962—December - 36 -133 - 41 -424 669 419 268 Borrowings Total reserves held seasonally adjusted Reserve City Banks New York City of uxner City Chicago Country All member - 91 -105 - 80 -109 10 - 50 - 62 - 86 - 77 - 32 -104 - 4 - 22 - 11 -203 -228 -197 -449 80 20 - 52 344 277 268 237 583 471 394 652 577 5% 482 756 568 572 688 710 557 906 87 149 304 17,201 17,077 17,942 17,978 18,283 18,977 19,609 - 37 9 8 7 12 27 41 11 36 21 - 33 - 27 - 64 -111 -149 - 75 -108 - 93 -138 -122 347 350 318 314 308 315 295 298 281 334 424 434 456 374 483 463 412 407 409 536 155 121 209 236 322 330 321 313 376 327 19,752 19,730 19,858 19,868 20,080 19,798 19,985 19,903 19,994 20,299 22 89 86 14 -116 - 87 - 54 - 77 334 275 255 257 427 395 357 376 256 304 259 213 20,309 20,270 20,460 20,437 8 1 1963—March April May June July August September October November December 269 313 247 138 161 133 91 94 33 209 - 59 15 - 80 - 55 - 99 - 74 19 «• - 1964—January February March April p 171 91 98 163 - 23 - 7 - 17 - 2 - «—«•» All - member All member NOTE—Beginning July 26, 1962, figures for both New York and the City of Chicago include banks formerly classified as central reserve city and three banks whose classification as reserve city is continued. . p - Preliminary. - - # 1954 1955 1956 1957 1958 1959 1960 1961 1962 Deco 1963 Mar, Apr. MayJune July Aug. Sept* Oct. Nov. Dec. 1964 Jan. Feb. Mar. Apr. p p p p Total # e Ebdfcbit K # # e Liquid Assets Held by the Public - Seasonally Adjusted Series V (Amounts in billions of dollars; ratios expressed as percentages) Time deposits Demand Savings deposits Postal and and CommerMutual Savings loan currency cial savings System shares 2/ banks 3/ banks V u. S. u. s. Government Gov%10 securities savings maturing bonds within one year 5/ 6/ 8 7 Liquid assets to gross national product 7/ 9 # # i Ratioss Demand de- Commercial posits and bank deposits currency and currency to gross to liquid national assets product 7/ (2 + 3 * 1 ) 10 11 1 2 3 4 5 6 320.3 332.5 343.2 356.0 373.1 393 0 9 399.2 424.6 130.2 133.3 134.6 133.5 138.8 139.7 138.4 142.6 48.2 49.7 52.0 57.5 65.4 67.4 73.1 82.5 26.3 28.1 30.0 31.6 33.9 34.9 36.2 38.3 2.1 1.9 1.6 1.3 1.1 0.9 0.8 0.6 27.2 32.0 37.0 41.7 47.7 54.3 61.8 70.5 55.6 55.9 54.8 51.6 50.5 47.9 47.0 47.4 30.6 31.6 33.2 38.8 35.6 48.8 41.9 42.6 85.9 81.3 79.6 80.3 80.2 80.5 79.2 78.4 35.0 32.6 31.2 30.3 29.9 28.7 27.6 26.4 55.7 55.0 54.4 53.6 54.8 52.6 53 o0 53.0 459.0 144.8 98.1 41.4 0.5 79.8 47.6 46.8 80.4 25.4 52.9 466.5 469.8 472.9 476.1 478.2 482.5 483.9 489.0 493.2 495.3 145.0 145.4 145.2 146,5 146.9 146.2 147.1 148.8 149.6 149.6 102.2 102.9 104.0 105.1 106.2 107.1 107.9 110.1 111.9 112.9 42.2 42.5 42.8 43.1 43.3 43.5 43.7 44.2 44.6 44.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.4 0.5 83.2 83.9 84.7 85.6 86.2 87.2 88.3 89.1 90.0 90.8 47.9 48.0 48.1 48.2 48.3 48.4 48.5 48.5 48.6 49.0 45.5 46.5 47.6 47.2 46.7 49.5 48.0 47.9 48.1 48.1 25.3 53.0 52.9 52.7 52.8 52.9 52.5 52.7 52.9 53.0 53.0 498.8 499.5 503.9 506.0 149.5 148.4 150.2 149.8 114.8 115.5 115.9 117.0 45.0 45.4 45.6 46.0 0.5 0.4 0.4 0.4 91.3 92.3 93.4 94.2 49.1 49.0 49.0 49.1 48.6 48.4 49.3 49.5 For footnotes see next page* b End of year or month # OO —A # 81.3 25.1 81.6 24.9 81.7 24.8 82.1 24.6 53.0 52.8 52.8 52.7
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