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i ; November 17, 1972 l &L c ^ . L > ^ S A S ^ & 3 Not for Publication BANKING AND MONETARY DEVELOPMENTS October 1972 Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System TABLE 1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 ad lust:ed annual rates (per cent) 1972 1970 1971 1969 3rd 1st 2nd 1st Year Year Year Half Otr. Otr. Otr. Sent. Oct. 2.9 8.4 11.4 13.1 15.9 9.9 13.8^ 12.5-/ 11.4 U.S. Gov't, sec. -15.7 12.6 4.7 8.2 10.5 5.8 -7.6 11.7 •-40.6 Other securities -0.3 20.6 20.7 11.7 16.8 6.2 9.8 10.7 — 8.2 4.5 12,5 14.4 16.5 11.9 19.0^ 10.2 3.7 5.4 9.7 10.0 9.1 12.9 6.8 20.2 Real estate loans 8.3 3.6 13.7 19.4 18.7 19.2 17.5 14.3 16.7 Consumer loans 3/ 10.0 5.3 12.7 13.3 11.9 14.2 18.0 16.3 17.9 Total bank credit Loans Business loans 12.8-/ 24.0 sales to bank affiliates Adjusted for loan i Total bank credit 13.6^/ 1 1 . 9 ^ 11.4 18. 12.4- 23.5 8 . 0 ^ 12.4 5.7 21.0 9.3 5.3 8.5 5.5 4.5 15.6 14.8 15.7 13.2 13.7 12.0 16.2 14.7 17.1 11.8 10.1 11.6 11.5 7.9 3.7 -0.1 3.7 3.2 1.0 0.4 3.9 8.1 11.3 12.8 15.7 9.5 9.7 4.1 9.9 14.0 16.3 11.2 12.9 3.1 4.8 9.4-/ 3.2 5.4 6.2 7.4 -4.9 17.9 17.9 Time other than CD's 1.4 11.0 CD's (Dollar change in billions) -12.6 14.5 Loans Business loans Money stock Total time deposits 10,6 l! Beginning June 1972, business loans were reduced by $400 million as a result of loan reclassifications at one large bank. Changes have been adjusted to take account of this reclassification. 2/ Includes $800 million system matched sale-purchase transactions outstanding on September 27. 3/ Consumer loan data revised beginning July, 1967 to conform with major revisions in Consumer Credit Statistics. Consumer loans were increased and "all other loans" were decreased. For back data, see Appendix Tables 1-4 of this release . Table 2 Loans and Investments at All Commercial Banks (Seasonally Adjusted) Date Loans Total (In 1968—Dec. 31 1969—Dec. 31 2/ 1970—-Dec. 31 390.6 402.1 435.9 1971—June 30 (old) (new) 4/ July 28 Aug. 25 Sept. 29 Oct. 27 Nov. 24 Dec. 31 461.1 1972—Jan. 26 Feb. 23 Mar. 29 Apr. 26 May 31 June 30 July 26 Aug. 30 Sept.27 p Oct. 25 p b i l l i o n s 258.2 279.4 292.0 Other securities U.S. Gov't, securities of d o l l a r s 61.0 51.5 58.0 ) 71.4 71.2 85.9 62.8 463.7 468.4 472.4 477.2 479.8 485.7 302.4 301.7 304.1 309.7 313.0 317.0 318.7 320.6 61.6 60.9 59.9 59.1 58.8 60.7 95.9 96.6 98.0 97.8 99.5 101.1 102.2 104.5 491.4 496 .6 505.0 507.4 516.1 517.5 521.9 529.8 535.3 5/ 540.4 325.7 328.5 333.8 335.9 341.9 343.7 348.4 356.2 360.0 5/ 367.2 59.7 61.0 62.3 62.6 63.1 63.2 62.3 61.4 62.0 59.9 106.0 107.1 108.9 108.9 111.1 . 110.6 111.2 112.3 113.3 113.3 1/ Adjusted to exclude domestic commercial interbank loans. p - Preliminary. 2/ Beginning July 1969, bank credit data are revised to include all bank premises subsidiaries and other significant majority-owned domestic subsidiaries; earlier data for commercial banks only. Also total loans and investments are now reported gross of valuation reserves rather than net as previously reported. Individual loan items have always been reported gross. 4/ Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million are included in other securities; previously they had been included in real estate loans. http://fraser.stlouisfed.org/ ^ Includes^800 millions/stem matcl^d sale-purchase transactions outstanding on September 27." Federal Reserve Bank of St. Louis — # e # # # e e TABLE 3 LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES ns sold out right by commercial banks 1Hons of dollars N.S.A .) Sold Sold to nonbank public 2/ Affiliates 1/ Business Business Business Total Total Date 1971 Jan. Feb. Mar. Apr. May June 27 24 31 28 26 30(old] (new) July 28 Aug. 25 Sept .29 Oct. 27 Nov. 24 Dec. 31 1972 Jan. 26 Feb. 23 Mar. 29 Apr. 26 May 31 June 30(old) (new) July 26 Aug. 30 Sept .27 Oct. 25 p Commercial bank credit (seasonally ad lusted) Total loans and investments Original AH lusted 3/ Total loans Ad lusted 3/ Original 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 2.1 2.1 1.9 1.9 1.9 1.9 1.7 1.6 1.6 1.7 1.7 1.5 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. 452 .4 455.2 458.9 464.1 293.7,, 295.7-' 296.5 298.2 300.7 4.4 4.4 4.6 4.5 4.4 4.5 2.2 2.3 2.3 2.2 2.2 2.0 2.8. 2.8 3.0 2.9 2.8 2.8 1.8 1.8 1.9 1.8 1.8 1.6 1.5 1.6 1.6 1.6 1.6 1.7 0.4 0.5 0.4 0.4 0.4 0.4 463.7 468.4 472.4 477.2 479.8 485.7 466 .5 471.1 475.4 480.1 482 .6 488.6 4.6 4.5 4.4 4.4 4.2 3.9 2.1 2.0 2.2 2.1 1.9 1.8 3.0 2.9 2.8 2.7 2.5 2.3 1.7 1.7 1.8 1.7 1.5 1.4 1.6 : i.6 1.6 1.7 1.7 1.6 0.4 0.3 0.4 0.4 0.4 0.4 491.4 496.6 505.0 507 .4 516.1 517.5 4.0 4.1 4.0 4.0 1.7 1.9 1.8 1.8 2.3 2.4 2.3 2.3 1.4 1.6 1.5 1.5 1.7 1.7 1.7 1.7 0.3 0.3 0.3 0.3 521.9 529.8 q/ 535.3% 540.4 s > 304.1 309.7 313.0 316.3 317.5 320.6 296.6,, 298.6299.3 300.9 303.5 305.5 , 304.8^ 307.0 312 .4 316.0 319.3 320.3 323.4 494.4 499.5 507.8 510.1 518.6 519.8 325.7 328.5 333.8 335.9 341.9 343.7 328.7 331.5 336.6 338.5 344.4 346.0 524.2 348.4 356.2 360.<£' 367.2 350.7 358.6 , 362.3%' 369.4 S:U< 542.6 Business loans Ad lusted 4/ Original 110.3 111.3 111.1 ! 111.7 112.6 112.1 112.4 113.4 113.0 113.6 114.5 114.0 113.2 115.2 116.2 116.6 116.0 115.5 115.0 117.0 118.1 118.4 117.8 117.1 116.4 117.3 118.4 119.9 121.2 121.1 120.7 121.4 123.9 124.6 126.7 118.1 119.0 120.2 121.5 122.6 122.6 g/ 122 .2— 122.9 125.4 126.0 128.2 1Set Change (Billions of dollars) 1971 Jan. 27 Feb. 24 Mar. 31 Apr. 28 May 26 June 30 July 28 Aug. 25 Sept .29 Oct. 27 Nov. 24 Dec. 31 5/ -0.1 5/ -0.1 0.1 0.2 -0.3 5/ 0.2 -0.1 -0.1 0.1 5/ 5/ -0.2 5/ 5/ 5/ -0.1 0.1 5/ -0.1 1972 Jan. 26 Feb. 23 Mar. 29 Apr. 26 May 31 June 30 July 26 Aug. 30 Sept.27 0.1 -0.1 -0.1 5/ -0.2 -0.3 0.1 0.1 -0.1 Oct. 25 p p e V 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ 1/ -0.2 5/ -0.1 5/ 0.1 5/ -0.1 5/ 5/ 5/ 5/ 5/ 0.1 5/ 5/ 5/ 5/ 5/ 5/ 5/ 0.1 -0.1 5/ 5/ 5/ 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 0.1 5/ 0.1 -0.1 -0.2 -0.1 5/ 0.2 -0.1 -0.1 5/ 5/ 0.1 5/ -0.1 0.1 5/ 5/ 5/ • -0.1 0.1 5/ 5/ 5/ 5/ 5/ 5/ 5/ 14.1 12.7 20.3 5.7 20.6 3.3 10.2 18.2 12.5 11.4 14.2 12 .4 19.9 5.4 20.0 2.3 10.2 18.3 11.9 11.4 19.1 10.3 19.4 7.5 21.4 6.3 16.4 26.9 12.8 24.0 19.7 10.2 18.5 6.8 20.9 5.6 16.3 27.0 12 .4 23.5 9.4 9.3 11.3 15.2 13.0 -1.0 7.0 24.7 6.8 20.2 10.2 9.1 12.1 13.0 10.8 5/ 5/ -0.2 5/ 5/ 5/ -0.1 5/ 0.1 -0.1 -0.2 5/ -0.1 5/ -0.2 O.l 0.3 -0.3 5/ 0.2 -0.1 -0.1 0.1 0.1 -0.1 0.2 -0.1 -0.2 -0.1 -0.1 0.2 -0.1 0.1 -0.1 -0.1 -0.1 -0.2 -0.2 5/ 0.1 -0.1 5/ 5/ it 6.9 24.4 5.7 21.0 Preliminary Estimated To VanV holdir~ companies affiliates subsidiaries or foreign branches. To other than banks' 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. Less than $50 million. Includes $800 million system matches sale-purchase transactions outstanding on February 24 . Beginning June 30, 1971, Farmers Home Administration insured notes totaling approximately $700 million are included in "other .securities" rather than in "real estate loans". Beginning June 1972, business loans were reduced by about $400 million as the result of loan reclassifications at one large bank". includes $800 million system matched sale-purchase transactions outstanding on September 27 • # i s # # e * # # # TABLE 4 NONDEPOSIT SOURCES OF FUNDS A N D METHODS OF FINANCE (Outstandings in billions of dollars) Date Total Total Euro-dollars Through branches outside U.S. Territories Foreign and possessions Through brokers and 1/ Commercial dealers . D i r e c t ^ paper 2/ Loans sold under repurchase agreement 3/ To the Customer To bank , . nonbank, guaranteed Ineligible Total affiliates-^ public— paper acceptances 1969 May Dec. 28 31 12.7 19.6 10.9 14.5 9.9 12.8 0.6 0.8 o.l 6/ 0.6 0.2 6/ 0.3 0.8 4.3 1.0 0.8 0.4 0.6 0.6 0,2 0.1 0.3 7/ 0.1 1970 June Dec. 24 30 21.5 11.7 13.1 8.6 12.2 7.7 0.6 0.7 0.2 0.1 0.1 7.6 2.3 0.7 0.7 0.7 0.7 0.1 1/ 0.3 0.3 0.5 0.2 1971 June July Aug. Sept. Oct. Nov. Dec. 30 28 25 29 27 24 29 5.2 5.2 4.9 6.0 6.6 7.0 4.4 2.2 2.1 1.9 2.8 3.3 3.7 1.3 1.5 1.5 1.4 2.5 2.9 3.3 0.9 0.6 0.6 0.5 0.4 0.4 0.4 0.4 7/ 1/ 1/ 1/ 7/ 7/ 7/ 7/ 7/ 7/ 7/ 1.7 1.8 1.8 1.9 2.0 2.0 2.0 1.3 1.3 1.3 1.3 1.3 1.3 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 0.2 0.2 0.2 0.2 0.2 0.2 0.2 1972 Jan. Feb. Mar. Apr. May June July / Aug., Sept. 26 23 29 26 31 28 26 30 27 5.0 4.7 5.1 4.8 4.6 4.6 4.7 4.7 5.3 1.8 1.4 1.8 1.6 1.7 1.7 1.6 1.5 2.2 1.4 1.1 1.5 1.4 1.5 1.4 1.3 1.3 2.0 0.3 0.3 0.3 0.3 0.3 0.2 0.2 0.2 0.2 1.6 1.4 0.2 1.0 1.0 1.0 0.9 0.9 0.9 0.7 0.7 0.7 0.6 0.4 0.4 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.4 0.3 0.3 0.3 0.3 0.4 0.4 0.4 0.4 4.9 1.2 1.2 1.1 0.9 0.9 1.0 0.9 0.8 0.8 0.8 0.2 0.2 0.1 0.1 25 p 2.1 2.1 2.2 2.2 2.0 2.0 2.3 2.4 2.4 2.5 Oct. 1/ 2/ 3/ 4/ 5/ j>/ 7/ • 2/ H 2/ 2/ 2/ 2/ 2/ 7/ If 7/ 7/ 7/ 1/ 2/ 7/ 7/ I ' ll 1/ 7/ 1/ 7/ ' 1/ 2/ Includes an indeterminate amount of Federal funds purchases from U.S. Agencies of foreign banks Issued by a bank holding company or other bank affiliates. Loans or participation in pools of loans sold under repurchase agreements. T o bank h o l d i n g companies, affiliates, or subsidiaries. T o other than banks and bank-related affiliates or subsidiaries. Partly estimated. Less than $50 million. 1/ 0.2 0.2 0.1 0.1 0.2 0.4 0.4 TABLE* Loans at All Commercial Banks Seasonally Adjusted Date 1966—Dec. 1967—Dec. 1968—Dec. 1969—Dec. Bus iness 31 31 31 1/ 31- 78.6 86.2 95.9 105.7 1 9 7 0 — D e c . 31 109.6 1971—-June 30(old) (new) July 28 Aug. 25 Sept. 29 Oct. 27 Nov. 24 Dec. 31 112.1 1 9 7 2 — J a n . 26 Feb. 23 Mar. 29 Apr. 26 M a y 31 June 30 1/ 2/ 113.2 115.2 116.2 116.6 116.0 115.5 116.4 117.3 118.4 119.9 (old) (new) 121.2 121.1 5/ 120.7-' July 26 A u g . 30 Sept.27 p 121.4 123.9 124.6 O c t . 25 p 126.7 Real Estate % Consumer^ ( I n b i 1 1 i o n s o f 53.8 38.2 40.5 58.4 64.9 46.2 50.8 70.3— (old) 69.8 (new) 72.3 50.3^ Security Nonbank financial d o 1 1 a r s ) 7.9 9.2 11.3 10.2 9.1 10.3 56.3 9.5 76.7 77.6 78.6 79.5 80.5 81.4 56.7 57.5 8.8 82.6 60.8 83.9 85.2 86.5 61.5 88.0 63.4 89.3 64.3 90.6 92.1 93.2 94.5 65.1 66.3 67.2 58.1 58.8 59.6 60.3 62.1 62.6 68.2 9.5 10.3 10.4 10.3 11.0 11.6 12.0 12.3 11.8 13.3 13.3 13.3 S i / 14.4 Agriculture 12.0 12*^2/ 13.1— (old) 13.6 (new) 14.3 8.7 9.5 10.0 10.6 11.4 15.9 12.0 16.0 12.1 12.2 15.9 15.2 15.6 15.8 15.3 16.5 17.0 17.4 16.7 17.1 16.9 5/ 17.2 5/ 18.4 19.5 18.9 20.2 12.3 12.4 12.6 12.8 12.9 12.9 13.0 13.1 13.2 13.3 13.4 13.5 13.5 13.8 p - Preliminary r - kevised " — Data are comparable with previous months. Individual loan items are gross throughout and the effect of consolidation in June 1969 on any one loan item was nominal. Real estate loans decreased by $500 million on December 31, 1969, and loans to nonbank financial institutions increased by $500 million due to change in method of reporting mortgage loans held under repurchase agreements. 3/ Consumer credit data adjusted in July to exclude about $500 million of consumer paper sold by finance companies to the banking system but classified as loans to nonbank financial institutions on b a n k records. Subsequent repayments completed in February 1972 are also included in loans to n o n b a n k financial institutions. 4/ Beginning June 30, T ' L , Farmers Home Administration insured notes totaling approximately $700 million are included in other securities; previously, they had been included in real estate loans. Beginning June 1972, business loans were reduced by $400 million, nonbank financial increased b y $300 million, and "other" loans increased by $100 million as the result of loan reclassification at one large bank. 1/ 6/ Includes $800 million system matched sale-purchase transactions outstanding on September 2 7 . Consumer loan data r a i s e d beginning July 1967 -- see Table 1. http://fraser.stlouisfed.org/* * Federal Reserve Bank of St. Louis Table 6 Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted (In billions of dollars) w 1972 Item Sept. Loans and Investments 2/ +4.0 Oct. 44.8 i Oct. p May June July Aug. Sept. p +2.4 +8,7 +1.4 44.4 +7.9 +5.5-/ +5.1 -2.1 Nov. Dec. Jan. Feb. March April +2.6 +5.9 +5.7 +5.2 +8.4 U. S. Gov't, securities -1.0 -0.8 -0.3 +1.9 -1.0 +1.3 +1.3 40.3 40.5 40.1, -0.9 -0.9 +0.6 Other securities +1.7 +1.6 +1.1 +2.3 +1.5 +1.1 +1.8 1/ +2.2 -0.5 +0.6 +1.1 +1.0 &oans 2/ +3,3 44.0 +1.7 +1.9 +5.1 +2.8 +5.3 +2.1 +6.0 *+1.8 +4.7 +7.8 +3.8-/ +7.2 Business +1.0 40.4 -0.6 -0.5 +0.9 +0.9 +1.1 +1.5 +1.3 -o.i-/ +0.7 +2.5 +0.7 +2.1 Real estate +1.0 40.9 +1.0 40.9 +1.2 +1.3 +1.3 +1.3 +1.5 +1.3 +1.3 +1.5 +1.1 +1.3 Consumer +0.6 40.7 40.8 40.7 40.5 +0.7 +0.6 +0.5 +0.8 +0.9 +0.8 +1.2 +0.9 +1.0 Security +0.8 +0.1 -0.1 40.7 40.6 40.4 40.3 -0.5 +1.5 1/ 1/ +0.4 +1.5— 7 -0.8 Nonbank financial -0.7 40.4 40.2 -0.5 +1.2 40.5 +0.4 -0.7 +0.4 -0.2" 7 +1.2 +1.1 -0.6 +1.3 Agriculture 40.1 40.1 40.2 40.2 40.1 V 40.1 40.1 40.1 40.1 40.1 +0.1 1/ +0.3 All other +0.5 +1.4 40.2 +0.4 +0.6 -0.8 +1.5 -0.1 40.4 -o.i-/ 40.7 +1.0 40.2 +2.0 Total loans excluding security 3/ +2.5 +3.9 +1.8 +1.2 44.5 +2.4 +5.0 +2.6 44.5 +1.7 +4.8 +7.4 +2.3 +8.0 Total loans excluding security and non. bank financial 3/ +3.2 +3.5 +1.6 +1.7 +3.3 +1.9 +4.6 +3.3 +4.1 +1.9 +3.6 j +6.3 +2.9 +6.7 1/ 7/ 3/ ~ 4/ 3/ 5/ 5/ Less than $50 million. Adjusted to exclude domestic interbank loans. , Beginning June 1972, business loans were reduced by $400 million, nonbank financial increased by $300 million, and other loans increased by $100 million as the result of loan reclassifications at one large bank. Changes have been adjusted to take account of this reclassification. Includes $800 million system matched sale-purchase transactions outstanding on September 27. Consumer loans and "all other loans", revised beginning July, 1967. See Table 1. V Table 6A Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted Adjusted for Loans Sold to Affiliates (In billions of dollars) j Item Sept. Loans and Investments 2/ Oct. Nov. Dec. Jan. Feb. March April May June July Qonf i-i On #4 +4.3 +4.7 +2.5 +6.0 +5.8 +5.1 +8.3 +2.3 +8.5 +1.2 +4.4 +8.0 +5.3-/ U. S. Gov't, securities -1.0 -0.8 -0.3 +1.9 -1.0 +1.3 +1.3 +0.3 +0.5 +0.1 -0.9 -0.9 +0.6 Other securities +1.7 +1.6 +1.1 +2.3 +1.5 +1.1 +1.8 1/ +2.2 -0.5 +0.6 +1.1 +1.0 Loans _2/ +3.6 +3.9 +1.6 +1.8 +5.3 +2.8 +5.1 +1.9 +5.9 +1.6 +4.7 +7.9 +3.7- +1.1 +0.3 -0.6 -0.7 +1.0 +0.9 +1.2 +1.3 +1.1 +1.6 +0.7 +2.5 +0.6 Business Real estate Consumer Security Nonbank financial NOT A)MAILABLE Agriculture All other Total loans excluding security 3/ Total loans excluding security and nonbank financial 3/ j i ^ • +5.1 I -2.1 1/ / n +7.1 +2.2 r Changes in L o a n s and Table 7 I n v e s t m e n t s at A l l C o m m e r c i a l B a n k s , at W e e k l y R e p o r t i n g B a n k s , and at O t h e r B a n k s , Not S e a s o n a l l y A d j u s t e d A d j u s t e d for S e l e c t e d L o a n S a l e s L a s t W e d n e s d a y of S e p t e m b e r to last W e d n e s d a y of O c t o b e r Item All commercial banks T o t a l loans Total Banks T o t a l loans U. S. G o v ' t , 1906 +1.4 -0.2 -0.6 +2.3 +1.2 +2.3 +0.7 -oTi +1.7 +4.9 +2.8 -0.8 -2.8 +0.8 +0.7 -1.3 +0.8 +1.1 -0.9 +1.0 +0.6 +1.5 +0.5 +2.5 -0.6 +1.6 +0.3 +1.3 -1.0 -0.4 -0.2 +0.6 +0.8 +1.2 +0.5 +0.1 +0.1 +0.7 +0.8 +0.8 +0.7 +2.4 4-0.4 +0.7 +0.4 +1.5 +0.4 +0.4 +0.3 +1.0 1971 +4.8 +0,6 +1.6 -3.0 +1.3 +1.2 +1.4 +1.2 +0.1 +1.6 +1.4 -0.8 +5.6 +4.5 -0.1 +2.3 -0.4 +0.3 +2.2 -0.3 +1.1 +0.9 +1.7 + 2.6 +1.0 -0.2 + 3.4 +1.9 +0.1 +0.6 +2.7 2/ U. S. G o v ' t , s e c u r i t i e s Other securities All Large 1967 1968 1969 1970 1972r 1/ 2/3/ securities Other securities Total Other 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 securities Total End of D e c e m b e r to last W e d n e s d a y of O c t o b e r Item 1971-/ 1972p All 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 -0.4 -1.8 1970 1969 1968 1967 1966^ +16.8 -1.8 +14.7 +29.7 +1.9 + 2 .5 +9.6 +14.0 +14.8 -10.2 -1.0 +3.7 +15.4 +2.3 +7.3 +25.0 +7.2 +6.2 +10.2 +10.5 -4.0 +9.1 +41.7 +23.7 +7.3 T o t a l loans TJ. S. G o v ' t , s e c u r i t i e s Other securities Total +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 +7.2 +1.3 +4.6 +4.3 +12.9 +1.5 +3.4 +6.6 +11.6 Other 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 securities Total + 18.9 -0.4 + 6.6 +12.5 +0.7 +8.4 +3.7 +0.8 +4.6 +7.9 +8.1 +1.0 +3.0 +5.7 +2.8 +3.6 +5.9 -4.1 +2.6 -1.5 +2.4 + 25.2 +21.6 +9.1 +6.3 +12.1 +12.1 +6.7 +36.6 -5.9 +2.8 All Large Banks 2/3/ NOTE Data exclude a 11 mceroanK loans; ca n reyui. l uuua available. Loans adjusted to include all a f f i l i a t e s , s u b s i d i a r i e s , or ii 3/ 4/ loans sold to b a n k h o l d i n g c o m p a n i e s , foreign branches. L e s s 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 b e g i n n i n g J u l y m a i n t a i n 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 c o v e r a g e b e g i n n i n g J u l y 1969. Changes have been adjusted 1966, and January 1967, 1971, and 1972. A l l o w a n c e has b e e n m a d e in m o n t h l y c h a n g e s in total loans and for a p p r o x i m a t e l y $ 7 0 0 m i l l i o n of F a r m e r s H o m e A d m i n i s t r a t i o n from loans to other s e c u r i t i e s 5/ -4.4 +0.4 +0.6 on J u n e 30, 1971; 1968, 1969, to 1970, . . in o t h e r s e c u r i t i e s insured n o t e s shifted $ 2 0 0 m i l l i o n w e r e at w e e k l y r e p o r t i n g banks and $ 5 0 0 m i l l i o n at o t h e r b a n k s . A l l o w a n c e h a s b e e n m a d e in m o n t h l y c h a n g e s in t o t a l loans and in o t h e r securities for a p p r o x i m a t e l y $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 s h i f t e d from loans to other s e c u r i t i e s at the end of J u n e ; $ 7 0 0 m i l l i o n w e r e at w e e k l y r e p o r t i n g and $ 3 0 0 m i l l i o n at n o n w e e k l y r e p o r t i n g . A l l o w a n c e has b e e n m a d e in m o n t h y c a n g e s in t o t a l c r e d i t and in t o t a l l o a n s . f o r the $1.1 b i l l i o n of b a l a n c e s a c c u m u l a t e for the p a y m e n t of p e r s o n a l 6/ loans e x c l u d e d from time d e p o s i t s and from loans on e e e e e # # e e e e TABLE 8 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 3/ Communication 3/ Other public utilities Construction All other types of business Bankers acceptances Services 3/ Other Foreign business concerns 3/ Classified Unclassified Total Change 1_/ 2/ 3/ Late September to late October Latei December to late October 2/ 1972 p 1971 1970 +183 +115 +436 +411 +25 -265 +32 -130 -149 -18 -in -81 -27 -20 -23 +43 +142 +28 +16 +98 -23 +237 +39 +127 +177 +49 +128 -423 -11 -252 -67 -93 -90 +37 -179 -87 -53 +34 -245 -136 -199 +90 +37 +115 +78 +126 +244 -14 +258 -805 -227 -353 -126 -99 -145 -104 -167 -101 -117 -90 -132 -22 -86 -24 -6 -128 +146 +114 +247 +22 +225 -32 +11 -73 +80 -50 -118 -171 +7 -57 -32 -6 +72 -36 -11 +119 -59 +243 +157 +98 +541 +127 +414 -210 -50 -197 +78 -41 -103 +10 +15 -25 -82 -68 -37 +4 +25 -66 +31 +126 +70 +185 -18 +70 +676 +267 +943 +83 -8 +40 -22 -533 +101 -432 +128 -53 -203 +49 -1,298 + 112 -y.86 +41 +3 +199 -1 +353 -154 +199 -32 +149 +9 +8 +461 +75 +536 1969 1968 1972 p 1971 1970 +97 -243 +1.317 +1,129 +188 -878 +19 -411 -545 +59 +639 -288 -414 +400 -83 -102 +573 -263 +408 +428 +740 -224 -369 -22 +1.085 +475 +610 -1.021 -8 -732 -217 -64 +151 -312 -275 +163 -106 -174 -99 -420 +33 +288 +327 +728 -620 —60 +416 +324 +92 +63 +3 -255 +240 +75 +358 -191 -210 +187 +11 -743 -1.235 +129 -363 -1,001 +111 +21 -975 +883 -132 +360 +1,894 +1,829 +3,723 -29 +132 +625 +544 +620 +556 +1,176 +166 +25 -170 +22 -1,870 +206 -1,610 1969 1968 -329 -377 +480 +342 +138 +1.373 +93 +767 +342 +171 +423 +28 +186 +241 +243 +103 +714 +313 +70 +331 +262 +1.297 -270 -441 +580 +309 +271 +970 +672 +51 +85 +156 +536 -78 -32 +198 +38 +289 +676 +530 +14 +132 +382 +881 . -281 +626 +952 -308 +4,338 +169 +4,507 Four most comparable weeks used throughout. Changes are complied from December 29, 1971 ; December 30, 1970; December 31, 1969; December 25, 1968; and December 27, 1967. These data cannot be linked with all commercial bank data which are always for December 31. Prior to 1967, transportation, communication, service^ and foreign loans were not reported separately. -454 +706 +629 -195 +3,534 +350 +3,866 Gross Loans and Investments at All Commercial Banks (In billions of dollars) Leans and Investments Date 1964- -Dec . 1965- -Dec . 1966- -Dec i 1967- -Dec . 1968- -Dec . 1969- -Dec . 31 31 31 30 31 31 3/ 1970- -Jan . Feb . Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. 28 25 25 29 27 30 29 26 30 28 25 31 279.2 307.6 324.0 1/ 360.8 400.4 412.1 399.1 .397.2 400.5 404.8 405.3 411.7 414.1 416.8 424.7 425 .6 429.3 446.8 U.S. Gov't Other Securities Total Loans 177.4 38.8 203.2 44.9 48.8 2/ 219.0 1/ 2/ 236.8 61.5 264.4 71.5 71.3 286.1 88.4 98.4 108.4 43.7 49.3 54.0 58.5 65.1 70.0 4/ 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 86.1 275 .6 275.0 276.3 278.2 278.4 284.5 284.9 284.7 289.5 287.5 288.4 299.0 104.1 134.0 104 .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 72.5 109.1 110.3 111.2 111.6 112.4 114.4 439.5 442 .4 6/ 447.7 450.9 453.6 464.8 61.5 61.4 61.6 60.0 58.8 60.3 87.1 88.9 91.5 94.2 94.9 463.0 466.1 472.0 476.5 479.9 497.9 59.3 58.7 58.7 60.0 61.0 98.2 98.1 99.9 101.5 101.6 64.9 104.7 290.9 292 .1 6/ 294.6 296.7 300.0 307.8 307.1 305.6 309.3 313.4 315.1 317.3 328.3 26 23 29 26 31 30 490.1 492.4 501.5 506 .C 513.7 521.E 62.7 61.9 62.5 61.9 61.2 104.8 106.2 108.5 109.7 110.9 111.5 322.7 324.3 330.5 335.1 341.6 349.8 -Jan. Feb. Mar. Apr. May June July 26 Aug. 30 Sept . 27 p Oct. 25 p (old) (new) 522 .0 526.5 534.6?/ 540.2 60.2 63.0 59.5 56.2 62.5 64.5 54.7 27 24 31 28 26 30 (old) (new) July 28 Aug. 25 Sept. 29 Oct. 27 Nov. 24 Dec. 31 1971—Jan. Feb. Mar. Apr. May June Real Estate 60.1 59.6 59.3 60.3 60.9 ?,:lv ll'jf.5 112.6 113.7 113.8 350.9 354.5 at 360.6% 365.5 Security Farm 8.4 8.5 9.0 10.5 11.8 10.7 104 Consumer Nonbank Financial Institutions All Other !£/ 7.5 8.2 8.6 2/ 9.3 9.7 10.3 31.0 35.7 38.3 40.6 46.3 51.0 10.9 13.3 13.3 12.5 13.7 15.1 15.7 16.8 15.3 16.9 19.3 50.9 50.7 50.7 51.1 51.5 53.0 53.3 53.3 53.2 53.6 12.7 12 .4 12.2 12.7 12.3 14.4 14.9 14.4 15.1 14.3 14.3 15.9 19.2 19.0 19.0 19.0 19.4 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 72.7 73.0 73.6 74.3 75.2 10.1 9.9 10.0 9.1 8.5 9.7 11.0 11.2 11.5 11.7 12 .0 12.2 53.6 53.6 54.0 54.9 55.7 56.6 14.5 14.3 15.2 15.2 15.4 17.0 19.9 19.8 19.1 19.9 20.8 21.5 113.4 114.2 115.9 115,6 135.6 118.5 76.8 77.8 79.0 8.6 57.2 15.9 15.5 15.5 21.3 80.9 81.6 10.1 10.1 12.9 12 .4 12.5 12.5 12.4 12.4 12.5 115.2 116.1 113.4 120.1 120.8 123.6 123.2 122.3 122.2 124.2 125.8 82.5 83.5 84.7 86.1 87.6 89.2 11.4 11.3 12.0 11.9 13.2 13.6 12.6 12.7 12.8 13.1 13.4 13.6 60.4 60.7 61.3 13.7 13.8 13.7 13.8 65.6 66.9 67.7 68.5 71.4 80.6 8.2 8.3 8.8 8.8 8.6 9.3 10.0 80.0 90.7 92.3 93.7 95.1 13.3 13.5 9/ 14.7 14.1 58.0 58.6 59.1 59.7 60.5 IU 16.9 62.2 63.3 64.7 20.6 20.0 19.6 18.8 19.4 18.9 19.6 21.2 22.0 21.9 22.6 23.2 25.3 16.0 16.2 16.8 16.9 16.9 24.5 23.8 24.5 26.4 18.3 18.8 19.3 27.0 27.0 27.3 20.0 % •> 28.2 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 were deducted from time deposits and "all Other" loans. Beginning June 30, 1966, about $1 billion of participation certificates previously included in agricultural and "all Other" loans were reclassified as "other securities." Data revised beginning June, 1969, to include all bank premises subsidiaries and other significant majority-owned domestic subsidiaries; earlier data are for commercial banks only. NOTE: 1/ 2/ 3/ 4/ 1/ 6/ 1/ 8/ Real estate loans decreased by $500 million on December 31, 1969, and loans to nonbank financial institutions increased by $500 million due to change in method of reporting mortgage loans held under repurchase agreements. Consumer credit data adjusted in July to exclude about $400 million of consumer paper sold by finance companies to the banking system but classified as loans to nonbank financial institutions on bank records. Subsequent repayments completed in February 1972 are also included in loans to nonbank financial institutions. Includes $800 million System matched sale-purchase transactions outstanding on February 24. Beginning June 30, 1971, Farmers Home Administration insured notes totaling pproximately $700 million are included in other securities; oreviously they had been included in rei-1 estate loans. Beginning June 1972 business loans were reduced by $400 million, nonbank financial increased fey $300 million, and other loans increased - 10/ Consumer loans and "all other loans'1 revised beginning July, 1967. See Table 1. September 27, - ; TABLE 10 Ratios to Total Deposits 1/ U.S. Government securities maturing within one year L O A N S D A T E M e m b e r All commercial banks B a n k s Reserve City Banks City of New York Total 54.0 55.6 1959—Dec. 31 1 56.5 1960--Dec. 31 55.1 55.7 54.5 1961—Dec. 31 56.5 57.7 1962--Dec. 28 58.6 1963--Dec. 25 59.9 60.5 61.9 1964--Dec. 31 63.7 65.4 1965--Dec. 31 67.9 65.8 1966—Dec. 31 63.8 65.8 1967—Dec. 30 1968—Dec. 31*-, 64.7 (63.7) 66.8 72.0 (69.8) 75.7 1969—Dec . 31*67.3 (66.2) 69.9 1970—Dec. 31* City All Commercial Banks Chicago Other Country 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) 58.2 60.8 58.0 61.4 62.1 64.4 70.2 77.0 70.8 75.1 89.5 80.6 58.2 48.2 59.0 50.3 57.7 50.2 60.1 51.7 63.3 53.8 65.0 56.0 68.7 57.9 70.2 59.2 68.1 58.2 69.1 58.2 79.5 62 .8 73.3 60.2 1 7.4 8.7 11.2 9.5 7 .5 8.0 7.3 6.1 6.4 6.1 5.0 5.7 1971—Jan. 27* Feb. 24* Mar. 31* Apr. 28* May 26* June 30* July 28* Aug. 25* Sept.29* Oct. 27* Nov. 24* (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) 84.1 (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. 26* Feb. 23* Mar. 29* Apr. 26* May 31* June 30 * July 26* Aug. 30* Sept.27* p Oct. 25* p 66.5 66.5 66.7 >7.0 37.3 58.1 68.4 68.7 68.8 68.8 (66.3) (66.3) (66.4) (66-8) (67.1) (67.9) (68.2) (68.6) (68.5) (68.7) 68.7 68.8 69.0 69.2 69.5 70.5 70.5 71.0 71.2 71.4 85.6(84.0) 85.5(84.4) 85 .1(83.4) 84.1(82.7) 84.7(83.2) 84.9(83.6) 84.7(83.2) 85.6(84.3) 84.3(82.2) 85.6(84.3) 79.9 81.7 82.5 81.9 83.7 84.7 85.6 85.5 83.6 85.7 71.9 60.0 72.3 60.3 72.8 60.3 73.4 60.2 73.2 60.5 75.0 61.0 75.0 61.1 75.8 61.3 76.8 61.4 76.9 61.2 3.6 3.9 4.0 3.6 3.7 3.5 3.3 3.4 3.3 n.a, * - Ratios in parenthesis are those obtained by adding Euro-dollars to the deposit base. 1/ 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. Loan data revised to exclude only loans to domestic commercial banks. Previous Digitized 3/ for FRASER "" data had also excluded loans to foreign commercial banks. TABLE 11 Money Stock Measures and Deposit Turnover (Seasonally adjusted; dollar amounts in billions) M^ plus M^ plus M i Currency time dep. deposits plus at comm. at nondemand , other than 2 , bank thrift . deposits— large CD's— institutions— Currency 1968--December 1969--December 1970--December | 1971--July August September October November December 1972--January February March April May June . July August September October p Time and NonDemand savings deposits bank thrift Deposits CD's Other Total institutions outside U.S. Gov't. deposits N.Y. City (all member) (per cent 197.4 203.7 214.8 378.0 386.8 418.2 572 .6 588.3 634.0 43.4 46.0 49.0 154.0 157.7 165.8 23.6 11.0 25.5 180.6 183.2 203.4 204.2 194.1 228.9 194.6 201.5 215.8 4.2 4.9 6.5 45.3 50.0 52.9 227.4 453.4 454.5 455.6 458.3 460.8 464.7 693.8 697.6 701.2 706.5 711.6 718.1 51.6 51.7 51.9 52.2 52.2 52.5 175.8 176.3 175.7 175.5 175.5 175.7 30.4 30.8 31.6 32.7 32.2 33.4 225.9 226.5 228.0 230.6 233.1 236.4 256.4 257.3 259.6 263.3 265 .3 269.9 240.2 243.1 245.6 248.3 250.8 253.4 5.1 5.8 6.6 4.7 5.4 6.2 55.0 55.9 55.6 54.3 58.1 57.3 231.2 233.5 235.0 235.5 236.6 469.9 475.5 480,1 483.0 486.1 490.4 727 .3 737 .4 745.9 752.7 758.8 766.1 52.8 53.2 53.7 54.0 54 .4 54.7 176.0 178.0 179.9 180.9 181.1 181.9 33.2 33.8 33.4 34.7 36.3 37.1 241.2 244.3 246.5 248.1 250.7 253.8 274.4 278.1 279.9 282.8 287.0 290.9 257.4 261.8 265.8 269.7 272.6 275.7 6.3 3.7 6.1 7.4 7.4 5.3 56.3 56.2 57.2 58.9 58.7 58.6 239.4 240.5 241.6 242.5 495.0 498.3 501.8 505.2 774.7 781.6 788.4 795.1 54.9 55.0 55.5 55.9 184.5 185.5 186.1 186.6 38.1 39.3 40.3 40.7 255.6 257.7 260.2 262.7 293.7 297.1 300.5 303.5 279.7 283.3 286.6 289.9 5.3 4.6 5.3 6.1 57.1 60.2 60.1 n.a. 241.8 242.7 242.2 242.3 504.0 504.8 504.9 505.4 n.a. n.a. n.a. n.a. 55.5 56.0 55.8 56.0 186.3 186.8 186.3 186.3 40.4 40.5 41.0 41.0 262.2 262.1 262.7 263.1 302.6 302.6 303.8 304.1 n.a. n.a. n.a. n.a. 6.7 5.2 5.2 6.0 "n.a. n.a. n.a. n.a. 228.0 227.6 227.7 227.7 228.2 228.8 Week ending: 1972--October 4 11 18 25 p 1/ Includes (1) demand deposits at all commercial banks other than those due to domestic commercial banks and the U.S. Government, less cash items in the process of collection and F.R. float; (2) foreign demand balances at F.R. Banks; and (3) currency outside the Treasury, F.R. Banks and vaults of all commercial banks. 2/ Includes in addition to currency and demand deposits, savings deposits, time deposits open account, and time certificates of deposits other than negotiable time certificates of deposit issued in denomination of $100,000 or more by large weekly reporting commercial banks. - 3/ Includes , plus the average of the beginning and.end of month deposits of mutual savings banks and savings and loan shared. TABLE 12 Period Total Consumer1 type time & savings Time and Savings Deposits ConsumerLarge State Political Savings type Negotiable Foreign Official time CD's 1/ etc . 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. 26 Feb. 23 Mar. 29 Apr, 26 31 Jiay J une 2 8 July 26 Aug. 30 Sept. 27 142,835 144,123 144,863 146,743 149,089 149,657 151,357 155,510 136,287 96,365 97,617 99,402 98,741 99,764 100,626 100,907 101,618 102,596 55,723 56,425 57,616 57,279 57,622 57,842 57,938 57,823 58,070 40,642 41,192 41,786 41,462 42,142 33,852 34,011 33,457 34,234 35,580 12,618 12,495 12,004 13,699 13,745 42,784 42,969 35,903 37,705 43,795 44,526 41,213 41,219 13,128 12,745 12,679 12,472 Week Ending: 1972-Oct. 4 11 18 25 p 156,494 156,854 157,392 157,388 102,818 102,757 102,904 102,758 58,198 58,182 58,208 58,160 44,620 45,575 44,696 44,598 41,183 41,673 42,035 42,277 12,493 12,424 12,453 12,353 1/ Negotiable certificates of deposit issued in denominations of $100,000 or more. TABLE 13 Member Bank Reserves (Based on averages of daily figures; in millions of dollars) Free reserves (excess reserves minus borrowings) D A T E All member Reserve City Banks New York City of City Chicago Other Excess Reserves Country All member Borrowings Total reserves held seasonally adjusted All member All member Monthly Averages: 1959--December I960--December 1961—December 1962--December 1963--December 1964—December 1965--December 1966--December 1967—December 1968--December 1969—December 1970--December -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 23,346 24,771 27,249 27,977 29,132 1971—Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. -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 27 " -15 110 -55 -183 -369 -341 8 -5 -14 -50 -36 28 17 -110 -113 -6 -9 -5 -13 1 -3 -1 2 13 130 17 -6 -55 -33 -105 141 9 144 82 79 116 31 173 124 233 136 104 204 147 20 33 99 109 119 94 31,772 31,616 32,032 32,643 32,830 202 -1 -15 -31 -62 -189 -211 -10 -52 -93 255 146 233 438 515 574 1972--Jan. Feb. Mar . Apr. May June July Aug. Sept. Oct. NOTE: - - 33,059 33,138 r 33,382 33,360 33,809 Aggregate reserve series has been adjusted to eliminate changes in percentage reserve requirements against deposits, but reserve requirements on Euro-dollar borrowings are included beginning October 16, 1969, and requirements on bank-related commercial paper are included beginning October 1, 1970. TABLE 14-A Liquid Asset Holdings of Private Domestic Nonfinaneial Investors* (Seasonally adjusted monthly averages; amounts in billions of dollars, ratios in per cent) Other liquid assets U.S. shortterm marketable Negotiable Commercial Treasury paper CD's securities 10 9 8 Currency and deposits Time Deposits 1 Period Total liquid assets Total 2 1 Currency Demand deposits Commercial banks Thrift institutions Total 3 4 5 6 7 Savings bonds 11 38.2 43.3 39.5 46.8 62.5 53.0 49.5 50.1 51.0 51.4 51.1 51.3 17.7 39.2 53.7 26.2 26.7 28.1 30.2 17.2 16.4 16.1 43.9 42.7 41.7 51.8 52.5 53.1 17.7 39.2 53.7 30.2 34.0 37.2 17.7 18.1 19.5 36.0 37.6 38.2 , 54.5 55.4 56.1 15.5 15.0 19.5 22.7 9.1 23.2 30.2 7.1 10.2 11.5 14 J2 20.8 19.5 139.2 ' 138.2 I 138.9 140.7 138.4 145.0 151.1 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 A 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 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 1972--March June Sept. 876.6 903 .0 931.3 738.3 758.0 ' 780.3 53.7 54.7 55.5 157.4 158.5 162.5 242.3 .249.2 255.4 284.9 295.6 306.9 1971—July Aug. Sept. Oct. Nov. Dec. 823.3 827 .6 831.6 838.3 842.8 850.2 684.8 688.7 692 .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 1972—Jan. Feb. Mar . Apr. 858.2 867.8 876.6 886 .0 -894 .2 904.0 719.7 729.6 738.3 745.2 751.0 758.0 52.8 53.2 53.7 54.0 54.4 54.7 153.8 237.2 275.8 155.6 157.4 158.4 158.2 158.5 240.2 242.3 243.7 280.5 284.9 289.1 292.2 295.6 138.6 138.3 138.4 29.9 30.5 30.2 18.1 17.7 17.7 36.6 35.9 36.0 53.9 54.2 140.8 143.2 146.0 31.6 33.2 34.0 17 V9 18.1 M 38.5 54.5 54.8 55 ,1 55.3 54.9 55.0 55.5 55.9 160.8 161.7 162.2 162.8 35.0 36.3 37.2 37.5 18.5 18.4 18.6 18.7 38.2 37.7 37.9 38.0 55.6 55.9 56.1 56 .4 May June July Aug. r Sept. r Oct. p 913.9 921.5 930.0 937.7 " 766.6 773.4 780.3 787.1 m 251.0 253.0 255.4 257.6 . 299.8 303.6 307.3 310.8 147.3 148.2 149.7 150.6 ; j T A B U 14-B Period Currency and demand deposits to liquid assets 12 Bank liability to liquid assets 13 Ratios Time deposits at thrift institutions to liquid assets 14 Liquid assets to GNP 15 Currency and demand deposits to 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 June Sept. 24.9 25.0 24.7 24.2 24.1 23.6 23.4 48.8 49.0 48.8 48.9 49.0 48.9 48.9 30.6 31.1 31.6 31.9 32.5 32.7 33.0 76.8 77.7 78.6 78.6 78.2 78.6 79.3 19.2 19.4 19.5 19.2 18.8 18.7 18.6 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. July Aug. Sept. Oct. Nov. Dec. 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 23.8 49.1 49.1 49.0 49.0 48.9 32.1 32.3 32.5 32.6 32.7 n .a. n.a. n.a. n.a. n.a. n.a. n.a. n.a. n .a. n„a. 23.6 23.6 23.5 23.4 23.3 48.9 48.9 46.9 48.9 48.8 32 .7 32.8 33.0 33.0 33.1 n.a. n.a. n.a. n.a. n .a. n.a. n.a. n.a. n.a. 1972--Jan. Feb. March April May June July Aug. Sept. Oct. p TABLE 14-C Liquid Asset Holdings Sum of columns 2 and 7. Sum of columns 3, 4, 5, and 6. Money stock components after deducting foreign holdings and holdings by domestic financial institutions. The three columns add to Mg held by domestic nonfinaneial sectors. Deposits at nonbank thrift institutions, as published in money stock statistics, plus monthly-average deposits at credit unions. Sum of columns 8, 9, 10, and 11. Negotiable certificates of deposits over $100,000 at weekly reporting banks, except foreign holdings. Commercial paper held outside banks and other financial institutions. Short-term marketable U.S. Government securities excluding official, foreign, and financial institution holdings. All issues due in one year or less, including bonds and notes, plus a sliding proportion of issues due in 13 to 24 months. Series E and H savings bonds held by individuals. Sum of columns 3 and 4 to column 1. Sum of columns 4, 5, and 8 to column 1. Column 6 to column 1. Column 1 to GNP. Annual averages are based on 12-month averages of column 1 and annual GNP. Quarterly averages are based on 3-month averages of column 1 and quarterly GNP. Sum of columns 3 and 4 to GNP. 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 and quarterly GNP. L.4.3 A p ^ n d i x Table 1 Consumer Loans Not Seasonally Adjusted Year 1962 1963 1964 1965 1966 1967 1968 1969 1970 1971 Jan. Feb. Mar. Apr. May June 21.2 23.8 27.3 31.1 35.6 38.0 40.7 46.4 50.9 53.6 21.3 24. o 27.5 31.3 21.5 24.2 27.8 31.7 36.2 37.9 41.2 47.0 50.7 54.0 21.9 24.7 28.3 32.4 36.6 38.2 41.8 47.8 51.1 54.9 22.3 25.1 28.8 33.0 37.0 38.5 42.4 48.5 51.5 55.7 22.7 25.5 29.4 33.7 37.5 38.9 43.0 49.2 52.1 56.6 35.8 37> 40.9 46.6 50.7 53.6 July 22.9 25.8 29.8 34.2 37.8 39.3 43.6 49.5 52.6 57.2 Aug. Sept. Oct. Nov. 23.1 26.2 30.1 34.6 38.1 39.7 44.3 49.8 53.0 58.0 23.2 26.4 30.3 34.8 38.0 39.9 44.8 50.2 53.3 58.6 23.3 26.7 30.5 35.1 38.0 40.1 45.4 50.4 53.3 59.1 23.5 26.9 30.6 35.3 38.1 40.3 45.7 50.5 53.2 59.7 Dec. 23.7 27.2 31.0 35.7 38.3 40.6 46.3 51.0 53.6 60.5 L.4.3 Ap#andix *"* " # # # # # # # # # Table 2 Consumer Loans - All Commercial Banks Seasonally adjusted, in billions of dollars Last Wednesday of month except June 30 and December 31 call dates May June July Aug. Sept. 16.9 17.1 17.4 17.7 17.9 18.3 18.5 18.6 18.8 19.4 19.6 19.7 19.8 19.9 20.1 20.2 20.3 20.5 20.6 21.5 21.4 21.1 21.1 21.0 21.0 21.1 21.1 21.1 21.3 21.4 21.3 21.6 21.8 22.0 22.3 22.5 22.7 22.8 23.1 23.2 23.5 23.7 1963 24.0 24.3 24.5 24.8 25.1 25.3 25.5 25.9 26.2 26.6 26.9 27.2 1964 27.5 27.8 28.2 28.5 28.7 29.2 29.5 29.8 30.1 30.4 30.6 31.0 1965 31.4 31.7 32.1 32.6 33.0 33.4 33.9 34.2 34.6 35.0 35.3 35.6 1966 35.9 36.3 36.7 36.8 37.0 37.2 37.4 37.7 37.8 37.8 38.1 38.2 1967 38.3 38.4 38.4 38.4 38.5 38.6 39.0 39.3 39.7 39.9 40.3 40.5 1968 41.0 41.4 41.7 42.1 42.4 42.7 43.3 43.9 44.5 45.2 45.7 46.2 1969 46.7 47.2 47,6 48.1 48.5 48.9 49.1 49.4 49.9 50.1 50.4 50.8 1970 51.3 51.4 51.4 51.4 51.6 51.8 52.2 52.5 52.9 53.0 53.1 53.5 1971 54.0 54.3 54.7 55.2 55.8 56.3 56.7 57.5 58.1 58.8 59.6 60.3 Jan. Feb. Mar. 1959 16.2 16 .4 16.7 1960 19.0 19.3 1961 20.5 1962 Year Apr. Oct. NOV. Dec. 0 L.4.3 A p p A d i x Table 3 All Other Loans at All Commercial Banks - Not Seasonally Adjusted Last Wednesday of month except June 30 and December 31 call dates (In billions of dollars) Oct. Nov. Dec. 8.6 8.8 8.8 8.8 8.8 8.9 8.9 9.0 9.3 9.5 9.4 9.8 9.9 10.2 10.6 11.3 11.0 11.1 11.4 11.2 11.0 11.3 11.0 11.8 11.5 11.5 11.6 11.6 11.7 12.4 12.7 12.9 14.0 13.2 13.2 13.6 13.8 14.2 15.7 15.3 15.4 15.9 16.2 15.8 16.0 16.3 16.0 15.8 16.8 15.8 15.8 16.1 16.9 15.9-1/ 15.4 15.1 15.0 14.7 14.6 15.3 14.7 14.5 14.3 14.8 15.3 15.9 15.4 14.8 14.8 14.8 15.1 16.9 1968 15.7 15.4 15.3 16.1 16.5 17.5 16.8 16.7 17.2 17.3 18.3 19.3 1969 17.9 17.7 17.8 18.4 19.7 20.1 19.3 19.0 18.7 18.8 18.9 20.6 1970 19.2 19.0 19.0 19.0 19.4 20.0 19.6 18.8 19.4 18.9 19.6 21.2 1971 19.9 19.8 19.1 19.9 20.8 21.5 21.3 22.0 21.9 22.6 23.2 25.3 July Aug. 7.9 8.2 8.3 9.0 9.0 8.8 9.1 9.6 9.8 10.4 10.7 11.1 10.5 10.4 10.9 11.8 11.5 12.1 1965 15.0 15.3 1966 16.0 1967 Jan. Feb. Mar. Apr. May 1959 7.1 7.2 7.5 7.6 7.8 1960 8.8 8.6 8.7 8.7 1961 9.2 9.0 8.7 1962 10.3 10.5 1963 10. 6 1964 Year June Sept. Revised November 1972 * - Series revised beginning July, 1967 1/ Beginning June 1966, $1.1 billion of balances accumulated for the payment of personal loans and $800 million ~ of participation certificates were excluded from "other loans". ^ • L.4.3 A p p * d i x — Year • • • • • • • # • Table 4 "All Other Loans" \/ Seasonally adjusted, in billions of dollars Last Wednesday of month except June 30 and December 31 call dates Jan. Feb. Mar. Apr. May June July Aug. 1959 7.4 7.4 7.8 7.6 7.7 7.6 8.1 1960 9.0 8.9 8.9 8.8 8.8 8.8 1961 9.3 9.4 9.1 9.3 9.4 1962 10.5 10.9 10.8 10.9 1963 10.9 10.9 10.7 1964 12.4 12.5 1965 15.7 1966 Sept. Oct. Nov. Dec. 8.4 8.5 8.7 8.7 8.7 8.7 8.9 8.8 8.8 8.8 9.1 9.5 9.5 9.6 9.5 9.9 10.1 10.1 11.0 10.9 11.1 11.2 11.3 11.1 11.0 11.0 10.9 10.9 11.2 11.4 11.5 11.6 11.7 11.8 11.7 12.3 12.7 12.6 13.0 13.4 13.3 13.7 13.8 14.1 15.2 15.9 15.1 15.5 15.4 15.6 16.1 16.0 16.1 16.1 15.7 16.2 16.4 16.4 16.2 16.3 16.5 15.4-/ 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 14.7 14.9 15.2 15.7 16.1 1968 16.1 15.8 16.1 16.5 16.0 16.4 15.1 16.5 17.2 18.0 18.8 18.6 1969 18.1 17.7 18.8 18.8 19.3 18.8 18.6 18.9 19.0 19.7 19.5 19.7 1970 19.5 19.1 20.0 19.5 19.0 18.6 18.9 18.5 19.7 19.7 20.3 20.5 1971 20.2 19.9 20.0 20.3 20.4 20.1 20.6 21,7 22.3 23.6 23.9 24.3 Revised December, 1971. » 17 Beginning June 1966, $1.1 billion balances accumulated for the payment of personal loans and $800 million of participation certificates were excluded.
@FedFRASER