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November 1975 rEDERAL RESERVE BANK of KANSAS CITY DEC 3 \t~ih L.4.3 Not For Publication - Research Library - BANKING AND MONETARY DEVELOPMENTS October 1975 Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System Table 1 Changes in Commercial Bank Credit, Money Stock and Time Deposits Seasonally adjusted annual rates (per cent) 1973 Year 1974 2nd half Year • 1st half 1st Qtr 2nd Qtr. 1975 3rd Ot-r.p Sent.P O c t / 13.3 9.2 3.3 5.2 •5.8 4.6 3.7 2.0 5.7 U.S. Gov't securities -14.7 -7.6 -27.0 96.7 79.5 95.0 26.0 .13.8 -31.1 Other securities 11.6 7.9 5.9 3.7 .3 7.1 3.9 ™" 14.2 Loans 18.4 11.5 6.1 -3,3 .1 —6.7 .4 - .7 9.1 Business loans 20.1 17.6 9.8 -6.9 -3.7 -10.2 .2 -7.4 10.2 Real estate loans 20.0 10.4 6.7 2.2 3.1 1.2 .3 .9 5.5 Consumer loans 14.9 3.5 1.9 -6.7 -6.7 -6.8 5.4 7.4 n.a. Total bank credit —^ 1/ — Adjusted for loans sold to selected affiliates 13.5 9.2 3.1 5.1 Loans 18.7 11.5 5.8 -3.3 Business loans 20.5 17.4 9.5 -6.6 -3.5 Money stock - M^ 6.1 4.8 3.1 6.0 0.8 Total time deposits 16.2 15.1 10.5 8.5 Time other than CD's 11.4 9.4 7.6 14.6 CD's (dollar change in billions) 19.9 26.5 9.0 Total bank credit 1/ -6.2 4.6 3.6 2.0 6.0 -6.7 .2 -.7 9.5 — -7.3 10.7 11.2 2.3 2.0 -2.9 10.1 6.7 3.3 9.1 13.9 13.4 15.3 9.7 7.7 9.3 -5.7 -5.0 1.1 2.2 . 5.7 — — -.5 -9.8 — 1/ Adjusted to exclude domestic interbank loans. n.a. - Not available. Note: 3anlc credit measures have revised to incorporate benchmark data £rom the June 30, 1975, Call Report. Table 2 ^ Loans and Investments at All Commercial Banks (Seasonally Adjusted) Date Total-/ Loane^ U.S. Gov't, securities Other secuirites (In billions of dollars) 1970—Dec. 1971—Dec. 1972——Dec. 1973—Dec. 31 31 31 31 435.5 484.8 556.4 630.3 291.7 320.3 377.8 447.3 57.9 60.1 61.9 52.8 85.9 104.4 116.7 130.2 19 74——July Aug. Sept. Oct. Nov. Dec. 31 28 25 30 27 31 687.5 693.9 689.9 690.8 692.5 687.1 494.8 501.5 500.2 502.0 503.8 498.2 55.9 55.3 52.3 49.8 49.1 48.8 136.8 137.1 137.4 139.0 139.6 140.1 1975—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 29 26 26 30 28 30 30 27 24 29 690.0 692.6 697.0 699.1 702.0 705.0 706.4 710.4 711.6 715.0 501.3 489.9 498.3 495.0 492.8 489.9 489.6 490.7 490.4 494.1 48.7 53.2 58.5 64.0 68.2 72.4 73.4 75.6 77.1 75.1 140.0 140.5 140.2 140.1 141.0 142.7 143.4 144.1 144.1 145.8 If P P P P Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans and $100 million in "other securities." 3/ Beginning October 31, 1974, as the result of the liquidation of one large bank total loans were reduced by $1.0 billion; business loans by $0.6 billion; real estate loans by $0.2 billion; nonbank financial loans by $0.2 billion; and "other securities" by $0.5 billion. However, business loans were increased and real estate loans were reduced by $0.1 billion as the result of loan classifications at one large mideastem bank. * Data have revised to incorporate Benchmark data from the June 30, 1975, Call Report. 2J Table 3 LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES * Commercial bank credit (seasonally adjusted) Loans sold outright b y commercial banks (outstanding in billions of dollars, N.S.A.) Date 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec ^ 1975 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 29 26 26 30 28 30 30 p 27 p 24 p 29 p Total 4.5 4.4 Business Loans 2.0 2.0 Sold to Affiliates 1/ Business Total Loans 2.8 2.6 1.6 Sold to nonbank public 2/ Total 1.7 Business Loans 2.7 1.8 1.8 n.a. 0.4 0.3 0.3 n.a. 2.7 2.7 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. 1.7 6.1 n.a, 2.9 n.a. 4.3 4.8 2.6 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a, n.a» n.a. n.a. n.a. 4.6 4.5 4.7 4.6 4.7 4.7 4.5 4.5 4.5 4.7 2.8 2.7 2.8 2.9 2.8 2.8 2.8 2.9 Total loans and investments Adjusted 3/ O'riginial 484.8 487.6 556.4 559.0 630.3 634.6 691.9 687.1 690.0 692.6 697.0 699.1 702.0 705.0 706.4 710.4 711.6 715,0 694.6 697.1 701.7 703.7 706.7 709.7 710.7 714.9 716.1 719,7 Total loans Original Adjusted 3/ 320.3 323.1 377.8 380.4 447.3 451.6 498.2 503.0 501.3 498.9 498.3 495.0 492.8 489.9 489.6 490.7 690.4 494.1 505.9 503.4 503.0 499.6 497.5 494.6 494.1 495.2 4S4.9 498.8 B u s i n e s s loans Original 115.9 129.7 155.8 182.6 184.1 182.5 180.9 180.5 179.1 Adjusted 4/ 117.5 131.4 158.4 185.3 186.8 177.5 176.4 185.2 183.7 183.2 181.9 179.2 180.4 lh0.3 179.2 177.9 180.8 i?!:! _L To bank holding companies, affiliates, subsidiaries, and foreign branches. Beginning August 28, 1974, loans sold outright to selected bank affiliates reflect a newly issued definition of the group of affiliates included as well as a somewhat different group of reporting banks. To other than banks1 and bank-related affiliates or subsidiaries. Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. Includes business loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans and $100 million in "other securities." 6/ Beginning October 31, 1974, as the result of the liquidation of one large bank, total loans were reduced by $1.0 billion; business loans by $0.6 billion; real estate loans by $0.2 billion; nonbank financial loans by $0.2 billion; and "other securities" by $0.5 billion. However, business loans were increased and real estate loans were reduced by $0.1 billion as the result of loan reclassifications at one large mideastern bank. Preliminary. revised Data have revised to incorporate benchmark data from the June 30, 1975, Call Report if i Table 4 Loans at all Commercial Banks* Seasonally Ajusted Date Business Real Estate Consumer (I n b i 1 1 1 o n s 60.2 81.4 98.1 70.4 80.9 117.7 Security c f Nonbank Financial Agriculture d o l l a r s) 10.8 15.5 21.5 14.7 12.2 28.0 12.8 14.6 17.7 1971—Dec. 1972—Dec. 1973—Dec. 31 31 31 115.9 129.7 155.8 1974—June July Aug. Sept. Oct. Nov. Dec. 30 31 28 25 30 27 2/ 31 174.6 178.0 181.0 181.4 183.2 184.3 182.6 126.3 127.2 128.0 128.6 129.1 129.5 130.2 82.9 83.6 84.2 84.4 84.5 84.2 83.7 12.0 14.1 14.9 12.1 12.2 12.1 11.4 31.4 33.5 35.0 34.5 34.5 35.0 32.3 18.1 18.1 18.2 18.3 18.3 18.5 18.6 1975—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. 29 26 26 30 28 30 30 p 27 p 24 p 29 p 184.1 182.5 180.9 180.5 179.1 176.3 177.6 177.5 176.4 177.9 130.7 130.9 131.2 131.5 131.5 131.6 131.6 131.6 131.7 132.3 83.6 83.3 82.3 81.8 81.2 80.9 81.3 81.5 11.4 10.8 12.0 10.4 11.4 12.2 10.7 10.7 9.8 10.9 34.1 33.7 32.8 30.9 32.7 30.3 30.9 31.6 30.6 30.4 18,6 18.4 18.5 18.6 18.5 18.7 18.9 19.0 19.3 19.5 82.0 n.a. p - Preliminary n*a. - Not available. 1/ Beginning June 30, 1974, data revised to include one large mutual savings banks which converted to a nonmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans and $100 million in "other securities". 2/ Beginning October 31, 1974, as the result of the liquidation of one large bank, total lpans were reduced by $1.0 billion; business loans by $0.6 billion; real estate loans by $0.2 billion; nonbank financial loans by $0.2 billion; and "other securities" by $0.5 billion. However, business loans were increased and real estate loans were reduced $0.1 billion as the result of loan reclassifications at one large mideastern bank. *Data have revised to incorporate benchmark data from the June 30, 1975, Call Report. Table 5 Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted * (In billions of dollars) 1975 19 74 Item Oct. Nov. Dec. Jan. Feb. Mar. Apr. May June July p Aug.p Sept.p Oct.p +.9 +3.2 -5.4 +2.9 +2.6 +4.4 +2.1 +2.9 +3.0 +1.4 +4.0 +1.2 +3.4 U. S. Gov't, securities -2.5 -.7 -.3 -.1 +4.5 +5.3 +5.5 +4.2 +4.2 +1.0 +2.2 +1.5 -2.0 Other securities +1.6 +1.1 + .5 -.1 + .5 -.3 -.1 +.9 +1.7 +.7 +.7 1/ +1.7 Loans 2/ +1.8 +2.8 -5.6 +3.1 -2.4 -.6 -3.3 -2.2 -2.9 -.3 +1.1 -.3 +3.7 +1.8 +1.6 -1.7 +1.5 -1.6 -1.6 -.4 -1.4 -2.8 +1.3 -.1 -1.1 +1.5 Loans and Investments 2/ Business - Real estate + .5 +. 7 + .7 +.5 + .2 +.3 + .3 v + .1 V 1/ +.1 + .6 Consumer +. 1 -.3 -.5 -.1 -.3 -1.0 -.5 -.6 -.3 +.4 +.2 +.5 n.a. Security + .1 -.1 -.7 1/ —. 6 +1.2 -1.6 +1.0 +.8 -1.5 1/ -.9 +1.1 Nonbank financial 1/ +.7 -2.7 +1.8 -.4 -.9 -1.9 +1.8 -2.4 + .6 +.7 -1.0 -.2 Agriculture 1/ + .2 +.1 1/ -.2 +»1 +. 1 -.1 + .2 +.2 +. 1 +.3 +.2 -.7 1/ -.8 -. 6 +.5 +1.3 +.7 -2.9 +1.5 -1.3 + .2 +1.8 n.a. All other i * Data have revised to incorporate benchmark data from the June 30, 1975 Call Report. V Less than $50 million. 2/ Adjusted to exclude interbank loans. p - Preliminary. Table 5A Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted* Adjusted for Loans Sold to Affiliates (In bilj-ions of dollars) 1974 1975 Item Oct. Nov. Dec. Jan. Feb. Mar. Apr. Mav June , JVIYB. +.8 +2.9 -5.5 +2.7 +2.5 +4.6 +2.0 +3.0 +3.0 +1.2 +4.0 +1.2 +3.6 U. S. Gov't, securities -2.5 -.7 -.3 -.1 +4.5 +5.3 +5.5 +4.2 +4.2 +1.0 +2.2 +1.5 -2.0 Other securities +1.6 +1.1 +.5 -.1 +. 5 -.3 -.1 +.9 +1.7 +.7 + .7 i/ +1.7 Loans 2/ +1.7 +2.5 -5.7 +2.9 -2.5 -.4 -3.4 -2.1 -2.9 —. 5 +1.1 -.3 +3.9 +1.8 +1.5 -1.7 +1.5 —1.6 -1.5 -.5 -1.3 -2.7 -.1 -1.1 +1.6 Loans and Investments 2/ Business +1.2 Sept.# . QGUE. , <v 1/. Less than $50 million. 2/ Adjusted to exclude interbank loans. p - Preliminary. ' * Data have revised to incorporate benchmark data from the June 30, 1975, Call Report. •< Table 6 Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, Not Seasonally Adjusted Adjusted for Selected Loan Sales r Last Wednesday of Sentember to :he last V Item 1974 1973 1972 1971 1970 1969 +0.9 +0.6 +0. 6 +2.0 -.6 1/ +.5 —. 9 +0,9 +0.9 +2.3 +4.1 +4.5 +0.6 +0.2 +5.3 +1.6 +1.2 +1.6 +4.5 -3.0 +1.4 +1.4 -0.1 +1.3 +1.2 —0.8 +1.7 -0.5 -0.3 +0.9 +2.0 +2.6 +2.3 -0.4 +0.3 +2.2 -0.3 +1.1 +0.9 +1.7 -2.8 +0.8 +0.7 -1.3 +0.8 +1.1 -0.9 +1.0 +1.2 1/ +0.3 +1.5 +2.2 +1.0 -0.1 +3.1 +1.9 +0.1 +0.6 +2.7 —0.2 +0.6 +0.8 +1.2 +0.5 . +0.1 +0.1 +0.7 1975c All commercial banks 2J Total loans U. S. Gov't, securities Other securities Total All Large Banks —/ ?J' Total loans IL S. Gov't, securities Other securities Total +0.3 -0.3 -1.3 +.5 -.3 -1.2 Other banks 2J -5/ Total loans U. S. Gov't, securities Other securities Total +1.4 +0.6 +0.3 +2.3 +0.8 -0.4 +0.8 +1.1 — — End of December to last Wednesday of October Item 1973 1972 1971 1970 1969 +42.6 -7.5 • +7.4 +42.6 +55.7 -11.0 +10.0 +54.7 +36.4 -4.0 +9.4 +41.8 +16.8 —1.8 +14.7 +29.7 +1.9 +2.5 +9.6 +14.0 +14.8 -10.2 -1.0 +3.7 -25.7 +11.0 -2.1 -16.8 +24.6 -5.3 +19.3 +31.6 -7.1 +3.0 +27.5 +17.7 -3.6 +2.5 +16.5 +4.2 -2.5 +6.3 +8.0 -1.9 +1.7 +5.0 +4.8 +6.9 -6.1 —3. 5 -2.7 +7.3 +10.6 +6.4 +24.3 +18.2 -2.3 +7.5 +23.2 +24.1 -3.9 +7.0 +27.2 +18.7 -0.4 +7.0 +25.3 +12.5 +0.7 +8.4 +21.6 +3.7 +0.8 +4.6 +9.1 +7.9 -4.1 +2.6 +6.3 1975p 1974 All commercial banks 2J Total loans U. S. Gov't, securities Other securities Total -18.4 +21.6 +4.4 +7.6 All Large Banks 2J J/ Total loans U. S. Gov't, securities Other securities Total Other banks —^ ~ Total loans U. S. Gov't, securities Other securities Total 1/ 2/ — — i Less than $50 million. Based on revised reporting beginning July 1969. Changes have been adjusted to maintain comparability of series. 3/ Based on revised coverage beginning July 1966 and January 1967-75. NOTE: Data exclude all interbank loans; call report data for large banks used when available. Loans adjusted to include all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. Allowance has been made in monthly changes for all loan and security reclassifications. For description of reclassifications, see Tables 3 and 8. Table 7 Changes in Commercial and Industrial Loans at Large Commercial Banks (In millions of dollars) Business of borrower Food processors Commodity dealers Trade concerns Retail trade Wholesale trade Metals Primary metals Machinery Transportation equipment Other fabricated metals Textiles, apparel, etc. Petroleum Chemicals Other durable manufacturing Other nondurable manufacturing Mining Public Utilities, total Transportation Communication Other public utilities Construction All other types of business Bankers acceptances Services Other Foreign business concerns Classified Unclassified Total Change Late September to late October!/' Lat b December to late October^ 1971 1972 1973 1974 1975p +14 +78 +244 +158 +86 -641 —48 -373 -74 -146 -126 +14 -172 -103 -61 +33 -182 -115 -220 +153 +24 +190 +125 -11 +76 -12 -700 +114 -586 +190 +204 +369 +341 +28 -110 +22 +26 -134 -24 -121 -74 -35 —64 -36 -28 +350 +8 +26 +316 +9 +297 +95 +238 -36 +102 +1053 +330 +1383 -140 +213 +230 +146 +84 -580 -78 -423 -69 -10 -184 -26 -155 -211 -25 -148 -307 -126 -97 —84 -105 +48 +158 +24 -134 -54 -1444 +90 -1354 -8 +389 +227 +196 +31 -234 -57 -189 +72 -60 -247 +123 -47 -63 -144 +155 -512 -17 -211 -284 -30 +379 +101 +26 +252 -92 -104 +25 -79 +50 +133 +410 +366 +44 -831 -31 -474 -157 -169 -206 -36 —48 -204 -140 +122 -65 +26 -14 -77 -108 +104 +539 -47 -388 +10 -809 —6 -815 1971 1972 1973 1974 -285 -17 +1243 +547 +696 -861 -35 -580 -200 —46 +236 -314 -288 +186 -38 -156 -485 -603 -72 +190 +382 +738 -13 +173 +578 +697 +1038 +455 +1493 +176 -124 +1427 +1126 +301 -452 -15 -82 -453 +98 +714 -290 -359 +357 -34 -100 +570 -365 +301 +634 +923 +141 -924 +839 +226 +317 +3266 +1732 +4998 +334 -344 +2471 +1723 +748 +2236 -54 +1507 +211 +572 +780 +207 +554 +963 +435 +190 +1772 +264 +72 +1436 +962 +2992 -290 +1469 +1813 +177 •1-13729 +1686 •1-15415 +339 -95 +2163 +1257 +906 +3760 +85 +1871 +1112 +692 +765 +644 +928 +1339 +354 +695 +1676 +68 —67 +1675 +865 +2028 +184 +621 +1223 +292 U5753 +1528 1-17281 1975p -1518 -694 -1399 -263 -1136 -3908 -13 -2624 -655 —611 -542 +310 -549 -1102 -557 +282 -2502 -371 -412 -1719 —448 -1126 +973 -1436 -663 +807 -12946 -510 -13456 1/ Five most comparable weeks used throughout. 2/ Changes are compiled from January 6, 1971; January 5, 1972; January 3, 1973; January 2, 1974; and December 31, 1974. These data cannot be linked with all commercial bank data which are always for December 31. TABLE 8 Loans and Investments at All Commercial Banks * (In billions of d o l l a r s ) (Not seasonally a d j u s t e d ) Loans and investments Date 1/ 2/ 3/ 4/ 5/ 6/ 2/ Security Farm Nonbank financial institutions All other 35.7 38.3 40.6 46.3 51.0 53.6 60.5 70.6 10.9 13.3 13.3 12.5 13.7 15.lA/ 15.9 16.9 23.4 15.7 16.8 15.3 16.9 19.3 20.6 21.2 25.3 30.3 81.2 71.0 30.5 22.2 37.3 29.2 Consumer 3\.Q 65.6 43.7 49.3 53.9 58.5 65.1 70.04/ 72.5 81.6 98.4 118.0 99.6 8.4 8.5 9.0 10.5 11.8 10.7 12.1 12.9 17.6 14.6 14.9 9.3 9.7 10.3 11.2 12.5 14.3 17.3 14.6 638.4 642.1 654.0 664.2 669.8 681.6 686.3 689.4 689.5 689.5 692.2 705.6 58.8 57.7 57.5 56.4 54.1 52.1 52.2 52.0 50.7 50.7 52.1 54.5 130..7 131..7 133,.5 134,.7 135..5 137..6 136..9 136..8 137.,6 138.,1 138..1 140.,5 448,.9 452,.7 463,.0 473,.0 480..3 491..8 497,.2 500,.6 501..2 500..7 502.,0 510.7 156.2 157.9 164.9 170.2 172.3 177.2 178.4 179.4 181.5 182.0 183.2 186.8 118.8 119.5 120.8 122.5 124.1 126.2 127.2 128.3 129.2 129.9 130.1 130.6 11.2 12.6 11.6 10.7 11.2 12.2 13.7 14.4 12.2 12.0 11.7 13.6 17.3 17.5 17.7 17.9 18.1 18.4 18.5 18.6 18.5 18.3 18.3 18.2 81.0 80.9 80.9 81.8 82.5 83.4 84.1 85.0 85.1 84.9 84.4 84.0 28.7 28.7 29.7 30.9 32.2 33.6 34.4 34.3 34.4 33.9 34.0 35.2 35.7 35.6 37.4 39.0 39.9 40.8 40.9 40.6 40.3 39.7 40.3 42.1 689.1 686.8 692.5 698.1 698.3 709.3 704.9 705.6 711.5 713.3 53.5 54.6 59.3 63.3 65.0 68.2 69.6 72.1 75.4 76.1 139,.1 139..5 140..9 141..7 141..7 143.,9 143,.6 143.,8 144.,3 144,8 496,.5 492,.8 492 .3 493,.1 491..6 497 .2 491.,7 489, 491.,7 492,,4 181.9 180.7 180.5 181.1 178.7 179.0 177.5 176.0 130.6 130.4 130.4 130.8 131.0 131.4 131.6 131.9 11.3 10.6 11.7 10.0 11.2 12.4 10.4 10.3 18.1 18.1 18.3 18.5 18.7 19.1 19.3 19.5 83.0 82.2 32.8 32.2 38.8 38.6 81.2 81.2 81.1 81.4 81.8 82.3 31.7 31.7 31.6 32.4 31.4 31.0 38.5 39.8 39.3 41.4 39.7 38.7 176.8 176,6 132.4 133.1 9.8 10.7 19.6 19.5 82.7 n.a. 30.7 29.6 39.7 n.a. 63.0 59.5 56.2 62.5 64.5 54.7 61.7 64.9 67.0 58.3 1973—Jan. 31 565.6 1974—Jan. 30 Feb. 27 Mar. 27 Apr. 24 May 29 , 306/ June July 31 Aug. 28 Sept. ' 25 3 Oct. °7 Nov. Dec. 31 1975—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Business Real estate 60.2 71.4 80.6 88.4 98.4 108.4 112.5 118.5 132.7 159.4 132.0 279.2 307.6 324.Ol/ 360.8 400.4 412.1 446.8 497.9 571.4 647.3 p p p p Total loans 177..4 203. 219.,01/ 1 / 236.,8 264..4 286.,1 299.,0 328.,3 387. 3 458. 5 383. 5 31 31 31 30 31 311/ 31 31 311/ 31 29 26 26 30 28 30 30 27 24 29 Other securities 38. 8 44.,9 / 48. 61. 5 71. 5 71.,3 86. 1 104.,7 117.,1 130. 6 116.,5 1964—Dec. 1965—Dec. 1966—Dec. 1967—Dec. 1968—Dec. 1969—Dec. 1970—Dec. 1971—Dec. 1972—Dec. 1973—Dec. j ill! NOTE: U.S. Gov't. J 7.5 8.2 8.6L2 / ti.a. - Not A v a i l a b l e . p - Preliminary. Data exclude domestic interbank loans. Consumer, and "other loans" were partly estimated for all dates. Other data are partly estimated on all but June and December call dates. Beginning June 9, 1966, $1.1 billion of balances accumulated for the payment of personal loans w e r e deducted from time deposits and "all o t h e r " loans. Beginning June 30, 1966, about $1 b i l l i o n of participation certificates previously included in agricultural and "all other" loans w e r e reclassified as "other securities Data revised beginning June 1969, to include all bank premises subsidiaries and other significant majority-owned domestic subsidiaries. R e a l estate loans decreased by $ 5 0 0 m i l l i o n on December 31, 1969, and loans tp nonbank financial institutions increased by $500 million due to change in method of reporting mortgage loans held under repurchase agreements. Beginning June 1972, business loans w e r e reduced by $400 million, nonbank financial institutions increased by $300 million, and "other" loans increased by $100 million as the result of loan reclassifications at one large bank. Beginning June 30, 1974, data revised to include one large mutual savings bank which merged with a nonmember commercial bank. T o t a l loans and investments were increaset by about $600 million of which $500 million were in loans and $100 in "other securities." Beginning October 31, as the result of the liquidation of one large bank, total loans were reduced by $ L 0 billion; business loans by $0.6 billion; real estate loans by $0.2 billion; nonbank financial loans by $0.2 billion; and "other securities" by $0.5 billion. However, business loans w e r e increased and real estate loans reduced by $0.1 b i l l i o n as the result of loan reclassifications at one large mideastern bank. for FRASER * D a t a h a v e revised to incorporate b e n c h m a r k data from the J u n e 30, 1975, Call Report. Digitized TABLE P * - / Ratios of Total Deposits DATE All commercial banks 1959—Dec. 31 1960--Dec. 31 1961—Dec. 31 1962--Dec. 28 1963--Dec. 25 1964--Dec. 31 1965—Dec. 31 1966--Dec. 31 1967—Dec. 30 1968—Dec. 1969—Dec. 1970—Dec . 1971—Dec . 1972—Dec. 31* ; 1973—Dec. 31* 54.0 55.1 54.5 56.5 58.6 60.5 63.7 65 .8 63 .8 64.7 72.0 67.3 65.7 67 .9 72.0 I& I LOANS Bank s M ember Reserve City Banks \ City of New York C hicagc Other Country City Total 55.6 56.5 55.7 57.7 59.9 61.9 65.4 67.9 65.8 (63.7) 66.8 (69.8) 75.7 (66.2) 69.9 (65.6) 68.0 (67 .7) 70.6 (71.8) 75.3 67.3 65.9 65.0 67.9 67.4 69 .3 75.9 83.5 79.9 83.5 (76.3) 102.8(86.4) 87.5 (79.6) 84.1 (83.2) 85.4 (85.4) 87.7 (86.4) 58.2 60.8 58.0 61.4 62.1 64 .4 70.2 77.0 70.8 75.1 89.5 80.6 78.1 87.2 93.7 58.2 59.0 57.7 60.1 63.3 65 .0 68.7 70.2 68.1 69.1 79.5 73.3 71.6 77.3 81.7 48.2 ! 50.3 50.2 ; 51.7 j 53.8 56.0 57.9 59.2 58.2 58.2 62.8 60.2 59.2 60.1 53.9 MEMBER BANK DATA NOW AVAILABLE ONLY ON CALL DATES 1974—June 30* July 31* Aug. 28* Sept.25* Oct. 30* Nov. 27* Dec. 31* 74.7 75.9 76.5 76.2 75.6 75.4 72.9 (74.3) 78.4 (75.5) (76.1) (75.9) (75.4) (75.1) (72.5) 76.0 1975—Jan. 29* Feb. 26* Mar. 26* Apr. 30* May 28*; June 30 July 30*p Aug 27*p Sept.24*p Oct. 29*p 74.1 73.7 72.6 72.0 71.8 70.5 71.3 71.1 71.1 70.6 (73.8) (73.5) (72.4) (71.7) (71.5) (70.3) 73.4 (71.1) (70.8) (70.8) (70.3) 89.4 (87.4) 101.1 85.4 66.0 91.5 81.9 64.6 85.0 (83.9) 93.6 78.4 62.7 87.4 (85.8) * — Ratios in parentheses are those obtained by adding Euro-dollars to the deposit base. If total loans (adjusted to exclude loans to banks); 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/ Beginning June 1969, total loans are reported gross of valuation reserves rather than net as previously reported. The higher loan level increased the ratio by about 1.3 percentage points for all commercial banks. 3/ Loan data revised to exclude only loans to domestic commercial banks. Previous data had also excluded loans to foreign commercial banks. NOTE: Data have revised to incorporate Benchmark data from the June 30, 1975, Call Report. Table 10 Money Stock Measures and Deposit Turnover (Seasonally adjusted; dollar amounts in billions) M3 M , M i Currency plus demand deposits^/ Hi plus time dep. at comm. other than large CD1 2/ M2 plus deposits at nonbank thrift institutions and credit union z shares^/ Currency Components of money stock measures and related items Nonbank thrift; Demand institutions total Other Deposits CD's Turnover outside N.Y. City (per cent) 1972-December 1973-December 255.8 271.5 525.7 572.2 844.9 919.6 56.9 61.6 198.9 209.9 43.9 63.8 269.9 300.7 313.8 364.5 319.1 347.4 5.6 61.8 3.9 75.8 1974-June July August September October November December 280.0 280.4 280.5 280.7 281.6 283.6 284.4 597.1 599.6 601.9 603.4 607.6 611.6 613.5 955.8 959.6 962.6 965.0 970.7 976.9 981.7 64.6 64.8 65.5 65.9 66.5 67.4 67.9 215.4 215.6 215.0 214.8 215.2 216.2 '16.5 81.3 83.6 83.8 84.8 317.1 319.2 321.5 322.7 325.9 328.0 329.1 398.4 402.8 405.2 407.5 412.1 413.6 419.3 358.7 360.0 360.7 361.7 363.2 365.3 368.2 5.3 4.2 6.2 6.3 3.7 4.6 1.9 79.8 82.8 86.3 83.8 84.1 87.5 86.6 1975-January February March April May June July Aug. Sept. Oct. 281.6 282.4 285.0 285.8 288.5 293.0 293.5 294.2 294.7 294.0 614.8 619.1 625.1 628.9 635.9 646.1 650.5 653.7 656.3 658,5 986.3 994.4 1005.9 1015.7 1028.3 1045.3 1055.9 1064.2 1070.7 1076.9 68.2 68.7 69.4 69.6 70.2 71.1 71.3 71.9 72.0 72.6 213.4 213.7 215.6 216.3 218.3 221.9 92.7 92.1 89.8 88.4 85.5 84.1 371.5 375.3 380.8 386.8 392.4 399.2 405.4 410.5 414.4 413.4 83.5 85.8 82.2 2.1 82.1 78.0 79.1 81.3 426.0 428.8 429.9 431.5 433.9 437.1 439.1 437.4 440.7 445.8 .7 .6 .7 225.3 222.7 221.4 333.2 336.7 340.1 343.1 347.4 353.1 357.0 359.4 361.7 364.5 2.1 3.8 2.5 2.9 3.1 2.9 83.0 80.2 81.7 86.2 85,4 n.a. 293.7 293.4 294.7 204.3 292.5 655.8 656.3 659.1 659. a 658.0 n.a. n.a. n.a. n. a. n.a. 72.0 72.5 72.6 72.5 72.7 221.7 221.0 80.9 362.1 362.9 364.4 364.6 365.5 443.0 444.5 445.8 445.7 446.7 n.a. n.a. n.a. n.a. n.a. Government, Week ending: Oct. 1 8 15 22 29 222.1 86.2 85.5 90.3 82.1 81.6 222.1 81.4 221.9 219.9 81.3 81.0 1/ 2/ t; U.S. Gov t. deposits (all member) Average of beginning and end of month deposits at mutual savings banks, savings and loan shares, and credit union shares. 1.9 2.9 3.3 3.5 2.3 cash items in the n.a. n.a. n.a* n.a. n*a. Table 11-A Liquid Asset Holdings of Private Domestic Nonfinancial Investors (Seasonally adjusted monthly averages; amounts in billions of dollars, ratios in per cent) Other Liquid Assets Currency and Deposits!/ Time Deposits Period Total liquid assets Total Currency 786.7 868.7 ' 634.4 721.1 1970—December 1971—December 1972—December 1973—December 980.2 816.0 49.1 52.6 56.9 1093.5 885.3 61.6 1974—January February March April May June July August September October November December 1102.3 1112.7 1121.4 1134.4 1142.5 1152.7 1159.4 1163.6 1167.5 1175.3 1179.9 1184.7 890.4 897.7 904.5 909.9 912.0 918.5 921.7 924.4 926.4 931.7 938.6 941.2 62.0 62.7 63.3 63.9 64.3 64.6 64.8 65.5 65.9 66.5 67.4 67.9 Demand deposits Commercial banks Total 7 Negotiable Commercial paper CD's 9 8 Savings bonds 11 * 153.2 161.7 175.2 181.5 199.2 233.6 264.7 294.8 232.9 273.2 319.1 152.3 147.6 164.2 23.1 30.3 39.9 24.7 24.0 27.6 53.2 39.6 39.8 51.3 53.7 57.0 347.4 208.3 58.1 38.3 52.1 59.9 180.2 181.7 182.5 183.1 182.9 184.5 184.6 184.0 183.5 183.7 184.6 183.1 298.5 301.7 304.2 306.6 307.8 310.8 312.4 314.3 315.4 318.5 320.6 321.9 349.7 351.6 354.5 356.3 357.0 358.6 359.9 360.6 361.7 363.1 366.0 368.3 211.8 215.0 216.9 224.5 230.5 234.2 237.7 239.3 241.1 243.5 241.3 243.4 60.8 62.4 62.3 68.1 72.4 75.1 76.4 75.8 76.2 77.2 76.0 79.9 39.0 39.4 39.7 40.1 40.4 40.8 41.5 42.6 43.3 43.2 41.8 40.6 52.1 52.9 54.4 55.6 56.6 57.1 58.3 59.2 59.7 60.9 60.8 60.1 60.0 60.3 60.5 60.8 61.0 61.2 61.5 61.7 62.0 62.3 62.6 62.8 371.5 375.3 380.9 386.8 392.4 399.1 405.2 410.2 414.5 41,8.7 247.0 246.6 244.2 244.0 241.2 241.1 240.5 236.0 236.4 237.4 82.5 82.3 80.0 78.8 75.7 74.0 72.0 68.4 69.4 71.1 40.3 40.6 41.1 41.4 41.7 41.8 41.7 41.0 39.9 39-2 61.0 60.2 59.4 59.7 59.5 60.6 61.7 61.1 61.3 60.9 63.2 63.5 63.8 64.1 64.4 64.7 65.1 325.1 180.0 68.2 944.8 1975—January 1191.8 328.3 180.6 68.7 952.8 February 1199.4 331.4 182.2 69.4 963.9 1208.0 March 334.0 183.1 1217.3 973.3 69.5 April 338.2 184.6 1226.6 70.2 985.4 May 188.0 71.1 344.3 June 1002.5 1243.6 348.3 188.3 71.4 July 1013.2 1253.7 350.8 71.9 August 188,7 1021.6 1257.6 352.9 189.0 72.0 1028.5 1264.9 September 72.6 October 356.1 187.9 1035,5 1272. NOTE: For description of items, and computation of ratios see Table 11-C. Thrift institutions U.S. shortterm marketable Treasury securities 10 - 65. 5 65.8 66.2 TABLE 11-B Period 1970—Dec. 1971—Dec. 1972—Dec. 1973—Dec. 1974—Dec. Currency and demand deposits to liquid assets^!/ 12 25.7 24.7 23.7 22.2 21.2 Bank liability to liquid assets^' 13 Time Deposits at thrift institutions to liquid assets 14 47.7 49.0 49.0 48.9 49.4 29.6 31.4 32.6 31.8 31.1 1974—QI Q2 Q3 Q4 21.4 21.2 49.0 49.5 49.3 49.4 1975—QI Q2 Q3 20.8 20.8 20.6 49.1 48.8 48.3 31.6 31.1 31.0 31.1 31.5 32.1 32.8 1975—Jan. Feb. Mar. Apr. May June July Aug. Sept. 20.8 20.8 20.8 20.6 49.3 49.3 49.1 48.9 48.8 48.8 48.5 48.3 48.3 20.5 48.3 Oct. 21.9 21.6 20.7 20.8 20.8 20.7 20.7 Liquid assets to GNP 15 77.9 78.9 79.9 80.6 82.3 81.9 Currency and demand deposits to GNP 16 20.2 19.9 19.3 18.4 17.8 18.0 82.6 82.2 17.9 17.6 17.6 17.6 17.7 17.4 31.2 31.3 31.5 31.8 32. 0 32. l 32.3 32.6 32.8 n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n.a, n.a. n.a. 32.9 n.a. n.a. 82.5 84.7 85.3 84.0 n»a. TABLE 11-C Liquid Asset Holdings umn 1 Sum of columns 2 and 7. 2 Sum of columns 3, 4, 5, and 6. 4, Money stock components after deducting foreign holdings and holdings by domestic financial institutions . The three columns add to held by domestic norvfinancial sectors. 6 Deposits at nonbank thrift institutions, as published in money stock statistics, plus monthly-average deposits at credit unions. 7 Sum of columns 8, 9, 10, and 11. 8 Negotiable certificates of deposits over $100,000 at weekly reporting banks, except foreign holdings. 9 Commercial paper held outside banks and other financial institutions. 10 Short-term marketable U.S. Government securities excluding official, foreign, and financial institution holdings. All issues due in one year or less, including bonds and notes, plus a sliding proportion of issues due in 13 to 24 months. 11 Series E and H savings bonds held by individuals . 12 Sum of columns 3 and 4 to column 1. 14 Column 6 to column 1. 15 Column 1 to GNP. Annual averages are based on 12-month averages of column 1 and annual GNP. Quarterly averages are based on 3-month averages of column 1 and quarterly GNP. 16 Sum of columns 3 and 4 to GNP. Annual averages are based on 12-month average of columns 3 and 4 and annual GNP. Quarterly averages are based on 3-month average of columns 3 and 4 quarterly GNP.
@FedFRASER