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L.4.3
November 20, 1969.
NOT FOR PUBLICATION
FL-DERAL
J
RESERVE
of
NOV 28
BANK
"• C I T Y
INKING AND MONETARY DEVELOPMENTS IN OCTOBER 1969
or
R&S&Qfch
. Commercial bank credit increased slightly in October
as growth in total loans more than offset further reduction in security
holdings . Despite heavy bank participation in the mid- and late-month
Treasury bill financings, holdings of U.S. Treasury securities declined
further. Liquidation of municipal and Federal agency issues resumed
following small acquisitions in September. The increase in total loans,
which was somewhat larger than in other recent months, reflected a
substantial increase in loans to security dealers associated in large
part with the late October Treasury financing. Moderate growth continued
in most other major loan categories.
The money supply increased slightly in October after showing
no change in the third quarter. U.S. Government deposits on the other
hand, declined substantially, as did time and savings deposits at all
commercial banks. The drop in time and savings deposits was slightly
below that in September but was not as sharp as in the July-August
period. Attrition of large negotiable CD's continued to moderate as
further reductions in business holdings were offset in part by sales to
foreign official institutions. The outflow of consumer-type time and
savings deposits at large banks--following quarterly interest crediting-was somewhat heavier than in September. Net borrowed reserves averaged
somewhat above the September level as member bank borrowings increased
and excess reserves declined.
Changes in Commercial Bank Credit
Money Supply and Time Deposits
(Seasonally Adjusted)
Annual rate (per cent)
1969
Second First Jan.r June- July- Jan.May Oct. Sept . Oct.
Half
Half
Year
1968
First
Half
11.0
6.5
15.0
U.S. Gov't, sec.
3.0
2.3
3.6
Other securities
16.4
8.1
23.8
- 0.3
Total loans
11.6
7.2
15.5
9.1
11.2
3.5
3 .6
7.3
8.0
Business loans
11.1
7.6
14.1
14.0
16.8
3.7
5.5
10.4
2 .3
7.2
7.2
7.0
4.3
4,3
1.1
—
2.7
1.2
11.5
5.3
17.3
Total loans and
investments
Money supply
Time and savings
deposits at all
commercial banks
3.0
3.9 - 0.5 - 0.5
1.7
Oct.
0.3
-17.9 -21.5 -11.1 -10.7 -15.8 -24.2
—
- 7.4 - 7.9 - 3.7 -12 .0
- 4.0 - 3.7 - 9.8 -13 .3 - 6.7 - 3.7
NOTE: Beginning July 1969, bank credit data are revised to include all bank
premises subsidiaries and other significant majority-owned domestic subsidiaries;
earlier data are for commercial banks only. Also total loans and investments
are not reported gross of valuation reserves rather than net as previously reported. Individual loan items have always been reported gross. Where necessary,
in the computation of annual rates, data prior to July 1969 have been adjusted to
maintain comparability with current data.
-2-
Bank credit. Loans and investments at all commercial banks
increased $100 million in October following an average monthly reduction
of over $200 million since May. (If data were adjusted downward to
exclude $195 million of System matched sale-purchase transactions outstanding on October 29 but adjusted upward to take into account loans
sold over the month, the October increase was substantially above the
previous four-month average.) Total credit (not adjusted for seasonal)
was unchanged in October at large banks and credit declined slightly at
small banks. This pattern contrasts with substantial credit growth at
both classes of banks in October of 1967 and 1968.
Holdings of U.S. Treasury securities declined $1.1 billion in
October even though banks underwrote $5 billion in new Treasury tax
bills during the month-r-a $2 billion issue payable 50 per cent in tax
and loan accounts delivered on October 14 and a $3 billion issue payable
100 per cent in tax and loan accounts delivered on October 29. At
weekly reporting banks, bill holdings increased substantially in connection with the Treasury financings but declined at other times in the
month. Holdings of coupon issues also declined somewhat reflecting sales
in all maturity classifications. Shifts within the portfolio—a sharp
decline in issues maturing within 1 year and increases in those maturing
within 1 to 5 years and over 5 years--resulted from the October 1
Treasury exchange offering.
Holdings of "other securities" declined $700 million in October —
or about the same as the substantial declines in the July-August period.
In September, holdings had increased slightly--the first monthly rise
since March--primarily because New York banks underwrote a State note
issue. Holdings of longer-term municipals declined substantially in
October; holdings of short-term municipals also declined but this reduction—although larger than that in October 1968--was generally similar
to those in earlier years. At nonweekly reporting banks, holdings of
"other securities" declined contraseasonally.
Total loans increased $1.8 billion in October--or somewhat
more than in other recent months. This larger expansion was associated
with a substantial $800 million increase in loans to Security dealers
largely connected with the late-month Treasury financing. Growth in
real estate loans was about in line with that of other recent months.
Consumer loans apparently continued to rise at the accelerated pace
established in September when a step up in auto sales following early
introductions of new models promoted strong credit demands.
Business loans increased $200 million in October or slightly
less than the average monthly rise since May. (After adjustment for
loans sold by banks to holding companies and affiliates, however, the
October expansion was somewhat larger than the previous four-month
average. At weekly reporting banks in New York, declined in outstanding
loans were relatively similar to those in the corresponding periods of
*
the past two years but at banks outside, a substantial decline contrasted
with increases in the 1967-68 period. On balance, at all weekly reporting
banks, increases in most categories were smaller, or declines larger,
than in past years. Repayments were especially large by crude petroleum
producers and this was concentrated in New York following increases in
the previous month presumably associated with borrowing in connection
with the North Slope oil leases.
Money supply and time deposits. The money supply increased
$200 million in October after showing no change over the third quarter.
Over the first half of the year, money supply increased on average at
a rate of $700 million per month. U.S. Government deposits dropped
substantially in October following a sharp buildup over the mid-September
tax period.
Time and savings deposits at all commercial banks declined
$600 million in October—slightly more than in September—but sharply
below the $3 billion decline in each of the two previous months.
Attrition of large negotiable CD's moderated somewhat as further reductions in business holdings were offset in part by sales to foreign
official institutions.
These sales were concentrated in New York City
were total CD holdings rose. At other weekly reporting banks, reductions
in CD holdings continued close to the rate of the two previous months.
The outflow of consumer-type time and savings deposits at large banks,
which had tapered off in September, resumed in October following the
quarterly interest crediting period. The outflow, however, was less
than half that recorded in July after mid-year interest crediting
presumably because fewer banks credit interest quarterly. At country
member banks, too, total time and savings deposits declined in October
by about half as much as in July following a small inflow in September.
Bank reserves. Net borrowed reserves averaged about $1,010
million over the five weeks ending October 29 compared with $745 million
in September. Member bank borrowings increased and excess reserves
declined.
Banking Section,
Division of Research and Statistics,
Board of Governors of the Federal Reserve System.
L.4.3-EXHIBIT A, PARTI
LOANS AND INVESTMENTS AT ALL COMMERCIAL BANKS
Billions of dollars
Last Wednesday of month, seasonally adjusted
i
i
r
i
r
i I M
I I II
I I I
r I RI M
I RM
I
400
TOTAL LOANS
AND INVESTMENTS
300
LOANS
200
OTHER SECURITIES
80
U.S. GOVT. SECURITIES
40
M
J
1966
* CHANGE IN SERIES.
S
1968
Exhibit A - Part II
Loans and Investments at All Commercial Banks
(Seasonally Adjusted)
Date
Total
Loans
( I n
b i l l i o n s
U.S. Gov 1 1.
securities
of
d o l l a r s
Other
securities
)
1962—Dec.
1963—Dec.
1964--Dec.
1965—Dec.
1966—Dec.
1967—Dec.
31 2/
31 2/
31
31
31
30
227 .9
246.2
267.2
294.4
310.5 3/
346.5
134.0
149.6
167.7
192 .6
208.2 3/
225.4
64.6
61.7
60.7
57.1
53.6
59.7
29.2
35.0
38.7
44.8
48.7
61.4
1968—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
31
28
27
24
29
30
31
28
25
30
27
31
349.9
353.9
352.5
355.2
357.3
357.8
365.9
370.4
374.6
379.4
381.6
384.6
227.5
229.2
229.0
231 .4
232.6
233.5
238.4
241.1
243.6
246.7
250.4
251.6
60.0
62.0
59.9
60.3
61.0
60.4
63.1
63.9
64.0
64.2
61.0
61.5
62.4
62.7
63.6
63.4
63.6
63.9
64.4
65.5
67.0
68.5
70.2
71.5
1969—Jan.
Feb.
Mar.
Apr.
May
June
29
26
26
30
28
30
385.9
387.9
386.8
389.9
390.8
390.4
253.7
258.4
257.5
260.6
263.3
263.0
60.8
58.1
57.4
57.6
56.0
56.0
71.4
71.5
71.9
71.7
71.5
71.4
June
30
395.2
268.0
56.0
71.2
July
Aug.
Sept.
Oct.
30
27
24
29
•395; 7
395.4
394.7
394.8
268.8
269.2
270.4
272.2
56.6
56.6
54.5
53.4
70.3
69.6
69.8
69.1
y,
(new
series)4 {
Estimated
r - Revis ed
p - Preliminary.
Adjusted to exclude interbank loans.
Estimated as of December 31.
Beginning June 9, 1966, loan data exclude $1.1 billion of balances accumulated for payment of
personal loans. Beginning June 30, 1966, total loans exclude, and other securities include, about
$1 billion of participation certificates.
_
4/ See note on Page 1.
NOTE: Chart has not been completely revised for changes in data relating to December 1968 benchmark
http://fraser.stlouisfed.org/
x^vd^Lon. O v ^ l ^ p i n g d a t ^ f ^ March 1 ^ 9 ^ r e shown^ ^
#" #
# #
# €
1/
Federal Reserve Bank of St. Louis
L.4.3 - EXHIBIT B, Part 1
LOANS AT ALL COMMERCIAL BANKS
Last Wednesday of month, seasonally adjusted
Billions of dollars
liU
100
BUSINESS
90
80
70
CONSUMER
SECURITY
1
1
1
M
J
S
1966
D
1
1
1
M
J
S
1967
1 1 1 1 ,1 1,1 1 1 1 1
,1 1 1 1 1 1 1 1 1 1 1
D
M
J
1968
S
D
M
J
1969
S
D
Exhibit B - Part II
Loans at All Commercial Banks
Seasonally Adjusted
Date
.Business
(In
Consumer
Real Estate
b i l l i o n s
oi
Security
d o l l a r • s )
1962—Dec.
1963—Dec.
1964— Dec.
1965—Dec.
1966—Dec.
1967—Dec .
31 1/
31 1/
31
31
31
31
47.6
52.0
58.4
69.4
78.6
86.3
34.2
39.1
43.6
49.2
53.8
58.4
23.7
27.2
31.1
35.6
38.2
40.0
6.1
6.9
7.4
7.4
>7.9
9.2
1968—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
31
28
27
24
29
30
31
28
25
30
27
31
86.6
87.1
87.8
88.8
89.2
89.6
90.8
91.7
92.4
93.4
95.1
95.9
58.9
59.5
60.1
60.6
61.1
61.4
61.8
62.3
62.8
63.6
64.3
65.0
40.4
40.8
41.0
41.4
41.6
41.8
42.2
42.7
43.3
44.0
44.3
44.9
10.1
10.2
8.7
8.5
8.5
8.2
10.7
11.4
11.6
11.2
11.0
10.4
1969—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
29
26
26
30
28
30
30
27
24
29
97.7
99.1
99.8
101.2
102.6
102.6
102.6
103.7
104.0
104.2
65.7
66.4
67.1
67.7
68.1
68.4
68.5
68.7
69.1
69.4
http://fraser.stlouisfed.org/
»
e Reserve Bank of St. Louis
Federal
2/
45.3
45 . 5
45.8
46 .2
46.4
46.6
46.7
46.9
r 47.3
47.7
1/
2/
9.4
10.4
8.8
8.9
9.3
8.9
9.7
8.5
8.6
9.4
Estimated as of December 31.
p - Preliminary
r - Revised
e - Estimated
July data are comparable with previous months. Individual loan items are gross throughout and the
effect of consolidation on any one loan item was nominal.
NOTE: Chart has not been completely revised for changes in data relating to December 1968 benchmark
revision. Overlapping data for March 1969 are shown.
These data are not for publication.
Changes
in L o a n s and
1 9 6
Exhibit C
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 Banks, S e a s o n a l l y A d j u s t e d
(In b i l l i o n s of d o l l a r s )
8
1 9
Item
Sept.
Oct.
Nov.
Dec .
Jan.
+ 4.2
+ 4.8
+ 2.2
+
3.0
+
+
0.1
+ 0.2
- 3.2
+
+
1.5
+
1.5
+
1.7
+ 2.5
+ 3.1
+
Business
+ 0.7
+
1.0
Real estate
+
0.5
+
Consumer
+
Security
Loans
and
Investments
U . S. G o v ' t ,
Other
2/
securities
securities
L o a n s jt/
6 9
Feb.
Ma r .
Apr.
May
June
July
Aug.
1.3
+ 2.0
- 1.1
+ 3.1
+
- 0.4
+
- 0.3
0.5
- 0.7
- 2.7
- 0.7
+ 0.2
- 1.6
+
1.3
- 0.1
+ 0.5
- 0.2
- 0.2
- 0.1
- 0.9
3.7
+
1.2
+ 2.1
+ 4.7
- 0.9
+ 3.1
+ 2.7
- 0.3
+ 0.8
+
1.7
+
0.8
+
1.8
+
1.4
+ 0.7
+
0.8
+
0.7
+
0.7
+
0.7
+ 0.7
+ 0.7
+ 0.6
+ 0.4
+
0.3
0.6
+ 0.7
+
0.3
+
0.6
+
0.4
+ 0.2
+ 0.3
+ 0.4
+ 0.2
+ 0.2
- 0.4
- 0.2
- 0.5
1.0
- 1.6
+ 0.1
+ 0.4
1/
+ 0.6
+
0.3
+
0.1
1/
+ 0.5
- 0.7
+ 0.8
+
0.1
- 0.1
+ 0.3
- 0.1
Nonbank financial
- 1.0
1/
+
0.9
+
- 2.1
- 1.1
- 0.7
+
0.2
- 0.7
+ 0.4
+
1.2
+
1.1
+
0.3
+ 0.2
+ 0.1
+ 0.2
+
0.4
+
+ 0.2
+ 0.1
+ 0.2
r + 0.4
+ 0.4
:
0.4
+ 0.8
- 1.2
+ 0.1
+ 0.8
0.3
- 0.5
- 0.3
+ 0.3
- 0.3
+ 0.1
+ 0.2
1/
+ 0.3
+ 0.1
+ 0.1
+ 0.1
- 0.1
1/
- 0.2
1/
- 0.3
r + 0.2
+ 0.1
1/
+
1.6
+
1.1
+
1.0
+
1.3
+
1.4
+
0.9
1.4
+
1/
1.4
i/
+
0.1
- 0.1
-0.2
+
A l l other
+
0.4
+
+
- 0.6
+
0.3
+ 0.6
- 0.2
- 0.4
T o t a l loans e x c l u d i n g
s e c u r i t y _3/
+ 2.3
+ 3.5
+ 3.9
+
1.7
+
3.1
+ 3.7
+
0.7
+ 3.0
+ 2.3
+ 0.1
T o t a l loans e x c l u d i n g
s e c u r i t y and n o n b a n k f i n a n c i a l 3/
+ 2.3
+ 2.9
+
+
1.6
+
3.1
+ 3.2
+
1.4
+ 2.2
+ 2.0
+ 0.6
1.1
3.6
Oct.
- 0.7
Agriculture
0.5
0.5
Sent.
+ 0.6
i/
+
j•
+ 0.3
0.1
1.8
0.3
V
3/
Less than $ 5 0 m i l l i o n .
2J
A d j u s t e d to e x c l u d e i n t e r b a n k l o a n s .
c - Corrected.
r - Revised.
A t large b a n k s on a l a s t - W e d n e s d a y b a s i s , b a n k e r s ' a c c e p t a n c e s i n c r e a s e d $41 m i l l i o n in O c t o b e r
1969, c o m p a r e d w i t h a d e c r e a s e of $6 9 m i l l i o n in
October
1968, and a n i n c r e a s e of $ 1 8 1 m i l l i o n in O c t o b e r
1967.
4/
Changes are adjusted, where necessary,
http://fraser.stlouisfed.org/
# Reserve
e
#
Federal
Bank ofeSt. Louis
e
#
e
for c o n c e p t u a l c h a n g e s in b a n k credit series b e g i n n i n g J u l y 1969.
I n d i v i d u a l L o a n C a t e g o r i e s A r e Not A v a i l a b l e for P u b l i c a t i o n .
#
#
#
e
e
#
#
e
#
•
•
t
•
•
i
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)
Item
All commercial banks
Total loans
U. S. Gov't, securities
Other securities
Total
Weekly reporting banks 5/
Total loans
U. S. Gov't, securities
Other securities
Total
Other banks —^
Total loans
U. S. Gov't, securities
Other securities
Total
1969
1968
1967
1966
1965
1/
+ 0.2
+ 0.3
+ 0.5
1/
+ 1.6
- 0.1
+ 1.5
- 1.2
- 0.3
1/
- 1.5
- 0.5
- 0.1
1/
- 0.5
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
1.4
2.3
1.2
4.9
+
+
+
0.2
2.3
0.7
2.8
- 0.6
1/
- 0.1
- 0.8
+
+
+
+
- 0.2
+ 1.1
- 0.9
+
+
+
+
0.6
1.5
0.5
2.5
+
+
+
0.6
1.6
0.3
1.3
-
1.0
0.4
0.4
1.8
- 0.1
+
+
+
+
0.8
0.8
0.7
2.4
+
+
+
+
0.4
0.7
- .4
1.5
+
+
+
+
0.4
0.4
0.3
1.0
- -
- 0.1
- 0.2
0.7
2.6
0.2
3.4 •
0.7
1.0
0.3
1.9
+
+
+
1963
0.7
0.7
0.2
0.2
0.3
1.1
1.0
0.2
+
-
1964
0.5
1.0
0.2
1.7
0.5.
0.3
0.3
1.0
End of December to last Wednesday of October
Item
1967
3/
1966—
1969
1968
All commercial banks
Total loans
U, S. Gov't, securities
Other securities
Total
+ 8.5
-10.5
- 1.9
- 3.9
+15.4
+ 2.3
+ 7.3
+25.0
+ 7.2- +10.5--
Weekly reporting b a n k s ^
Total loans
U. S. Gov't, securities
Other securities
Total
+
-
2.2
6.1
3.5
7.4
+ 7.2
+ 1.3
+ 4.3
+12.9
+ 1.5
+ 3.4
Other banks —^
Total loans
U . S . Gov't, securities
Other securities
Total
+
+
+
6.4
4.4
1.6
3.6
+ 8.1
+ 1.0
+ 3.0
+12.1
+ 5.7
NOTE:
+ 6.6
+11.6
+ 2.8
+ 3.6
+12.1
1964-/
2/
1963-
+15.6
- 4.5
+ 5.3
+16.3
+ 9,1
- 2.0
+ 2.9
+ 8.1
+ 4 . 6 ^ + 8.7
- 3.8
-4.4
3/
+ 2.9
+ 0.4"
4/
+ 7.8
+ 0.6—
+ 3.4
- 2.1
+ 1.5
+
+
+
5.53/4/1 +
+
+ 2
+
+
+
+
+
+ 5.0
- 0.1
+ 6.2
+10.2
+23.7
1965
+ 7.3-
'jf!
6.9
0.7
2.4
8.5
+10.0
+ 2.8
5.7
0.1
1.4
7.2
-4.4
+ 5.2
+ 8.8
3.1
4.3
3.4
2.1
+ 1.8
+ 6.7
Data exclude all interbank loans; call report data for large commercial banks
used when available.
i/
2/
Less.than $50 million.
Based on estimated data for all commercial banks on December 31, 1963, and
December 31, 1962, and for large commercial banks on December 31, 1962.
3/ Allowance has been made in monthly changes in total loans and in other securities
for approximately $1 billion of participation certificates shifted from loans to
other securities in late June 1966: $700 million at large banks and $300 million
at other banks.
4/ Allowance has been made in monthly changes in total credit and in total loans for
the $1.1 billion of balances accumulated for the payment of personal loans excluded
from time deposits and from loans on June 9, 1966: $400 million at large banks
and $700 million at other banks.
5/ Based on revised coverage beginning July 1966, January 1967, and January 1968.
Exhibit E
Changes in Commercial and Industrial Loans at Large Commercial Banks
(In millions of dollars)
Late December 1to late October 2/
Late September to late October 1/
Business of borrower
1969
+
+
+
+
Food processors
Commodity dealers
Trade concerns
Retail trade
Wholesale trade
Metals
Primary metals
Machinery
Transportation equipment
Other fabricated metals
Textiles, apparel, etc.
Pettoleum
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
86
118
300
315
15
276
24
209
45
88
187
190
22
73
36
40
82
15
10
107
89
180
41
7
146
37
66
313
379
-
-
+
-
-
+
-
-
+
-
+
-
+
+
-
+
+
-
1968
+
+
+
+
+
-
+
-
+
-
+
+
+
-
+
+
-
+
+
+
+
+
+
1966
1967
81
140
482
365
117
297
67
251
86
65
119
95
30
56
86
122
42
29
25
12
36
150
9
158
1
9
195
64
259
+
+
+
-
+
-
+
-
+
-
+
+
-
+
+
-
+
-
+
+
+
-
+
+
188
207
48
73
121
359
22
322
10
69
173
46
16
142
73
60
83
78
5
10
33
281
181
108
8
82
53
82
29
+
+
+
+
+
-
-
+
-
+
-
+
+
+
+
-
+
232
91
263
244
19
107
49
17
26
67
197
11
18
2
70
68
207
n.a.
n.a.
n.a.
46
85
68
n.a.
17
n.a.
359
82
277
1969
1968
329
377
+ 480
+ 342
+ 138
+1 ,373
93
+
+ 767
+ 342
+ 171
+ 423
+
28
+ 186
+ 241
+ 243
+ 103
+ 714
4- 313
+
70
+ 331
+ 262
+1 ,297
281
+ 626
+ 952
308
+4 ,338
+ 169
44 ,507
270
441
+ 580
+ 309
+ 271
+ 970
+ 672
+
51
+
85
+ 156
+ 536
78
32
+ 198
+
38
+ 289
+ 676
+ 530
+
14
+ 132
+ 382
+ 881
454
+ 706
+ 629
195
+3 ,534
+ 350
+3 ,866
1965
+
+
+
+
+
-
-
-
+
+
-
+
-
+
+
-
+
257
175
161
96
65
183
73
21
29
60
162
20
7
23
72
4
166
n.a.
n.a.
n.a.
1
57
104
n.a.
47
n.a.
284
19
265
-
-
-
-
1967
408
176
3
99
+
96
+ 750
+ 356
+ 318
94
+ 170
+ 137
+
52
.+ 215
+
86
+ 244
86
+ 566
+ 424
+ 193
1
51
67
+ 915
+ 517
69
+ 467
185
+2 ,040
+ 296
+2 ,336
-
-
1966
1965
+
62
- 265
+ 647
+ 448
+ 199
+2.087
+ 111
+1,094
+ 592
+ 290
+ 462
+ 166
+ 433
+ 469
+ 369
+ 522
+ 694
n.a.
n.a.
n.a.
+
89
+ 122
- 309
n.a.
+ 431
n.a.
+5,857
+ 543
+6,400
1/
2J
36
- 158
+1.071
+ 683
+ 388
+1,311
+ 110
+ 552
+ 284
+• 365
+ 476
+ 315
+ 305
+ 384 j
+ 252 :
+ 213
+ 849
n.a.
n.a.
n .a.
+ 289
+ 215
- 472
n.a.
+ 687
n.a.
+5,486
+ 615
+6,101
Five most comparable weeks used throughout.
Changes are compiled from December 25, 1968; December 27, 1967; December 28, 1966; December 29, 1965; and December 30,
1964. These data cannot be linked with all commercial bank data which are always for December 31.
3/ Prior to 1967, transportation, communication, services, and foreign loans were not reported separately.
NOTE: Changes in "Classified," "Unclassified," and "Other" are adjusted for reclassifications in San Francisco.
http://fraser.stlouisfed.org/
• Reserve
•
e
Federal
Bank of e
St. Louis
#
e
#
#
#
e
e
#
#
e
e
e
#
#
\
•
Exhibit F
Loans and Investments at All Commercial Banks
(In billions of dollars)
Date
Loans and
investments
Total loans
Real
estate
Business
116.7
123.9
137.9
153.9
172.1
197.4
213.0 1/2/
230.5
43.1
45.2
49.1
53.7
60.2
71.4
80.6
88.5
28.7
30.3
34.3
39.2
43.7
49.3
54.0
58.5
5.1
6.2
7.3
7.9
8.4
8.5
9.0
10.5
350.5
350.9
351.5
354.7
355.4
361.4
366.0
367.9
374.4
379.3
381.1
393.4
62.2
63.2
61.2
59.8
60.3
58.6
60.5
61.5
62.5
64.8
62.8
64.5
61.7
62.2
63.1
63.8
63.5
64.4
64.6
66.0
67.6
68.8
69.5
71.5
226.5
225.5
227.2
231.0
231.6
238.4
240.9
240.4
244.2
245.7
248.8
257.4
85.7
85.9
87.8
89.2
88.7
91.5
91.3
90.3
92.1
92.7
94.7
98.4
58.8
59.2
59.6
60.2
60.8
61.4
61.9
62.5
63.2
64.0
64.7
65.1
10.8
9.7
8.7
8.7
8.5
9.2
11.1
11.1
11.4
10.5
10.0
11.8
385.0
384.1
385.6
390.7
388.8
394.3
63.2
59.5
58.5
57.9
55.2
53.8
70.5
70.9
71.4
72.0
71.4
72.0
251.3
253.7
255.7
260.8
262.2
268.5
96.5
97.7
99.9
101.8
102.1
104.8
65.6
66.1
66.6
67.2
67.8
68.4
9.5
9.5
8.8
9.4
9.3
10.0
198.5
214.4
233.6
252.4
273.9
301.8
317.9
354.5
1968- -Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
31
28
27
24
29
29
31
28
25
30
27
21
1969- -Jan.
Feb.
Mar.
Apr.
May
29
26
26
30
28
i/
399.2
June
30 (new)
395.7
30
July
27
Aug.
392.6
Sept. 2 4
394.6
394.4
Oct. 29
NOTE: Data exclude interbank loans.
June and December call dates.
68.4
104.8
273.6
71.8
68.6
103.3
70.5
270.7
69.0
102.2
268.3
70.1
69.5
103.7
271.2
70.4
53.0
69.8
103.3
270.9
69.5
.5AJ
Consumer and "other loans" are partly estimated for all dates.
53.9
54.5
54.1
3/
~
Consumer
Farm
Nonbank
financial
iInstitutions
All
other
20.6
21.4
23.7
27.2
31.0
35.7
38.3
40.0
7.1
7.3
8.5
10.2
10.9
13.3 .
13.3
12.5
8.7
9.8
10.7
11.3
13.9
15.0
13.6 1/2/
15.9
9.3
9.5
9.6
9.7
9.8
10.0
10.1
10.0
9.9
9.9
9.8
9.7
40.1
40.2
40.5
41.1
41.6
42.1
42.6
43.2
43.6
44.1
44.4
44.9
11.3
10.7
10.8
11.1
10.8
12.2
12.0
11.4
11.9
12.0
12.1
13.7
15.3
15.2
15.1
15.8
16.2
16.8
16.7
16.7
16.9
17.3
17.9
18.9
9.7
10.0
10.1
10.3
10.4
10.6
44.9
44.9
45.2
45.9
12.1
12.5
12.3
13.3
12.7
13.6
18.2
18.2
18.0
18.2
5.7
6.2
7.1
7.4
7.5
8.2
8.6 2/
9.3
46.4
46.9
13.6
46.9
10.6
10.0
12.5
47.2
10.7
9.8
12.4
47.4
8.3
10.7
12.8
10.6
r 47.7
8.5
12.2
47.8
10.6
8.8
Other data are partly estimated on all but
18.6
19.2
19.3
18.5
18.3
18.5
18.4
e - Estimated
r - Revised.
p - Preliminary.
1 7
T/
Security
20.9
23.9
29.3
35.1
38.8
44.9
48.8 2/
61.5
31
30
31 (est.)
31 (est.)
31
31
31
30
30 e
Other
securities
61.0
66.6
66.4
63.4
63.0
59.5
56.2
62.5
1960- -Dec.
1961- -Dec.
1962- -Dec.
1963- -Dec.
1964- -Dec.
1965- -Dec.
1966- -Dec,
1967- -Dec.
June
S. Gov't.
Beginning June 9, 1966, $1.1 billion of balances accumulated for the payemfent 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."
D a t a revised to include all bank premises subsidiaries and other significant majority-owned domestic subsidiaries; earlier data are for commercial
banks only. Also, total loans and investments are now reported gross of valuation reserves rather than net as previously. Individual loan items
h a v e always been gross.
Individual loans category data are available for publication only on a June and December call data basis.
e
#
#
e
e
e
e
#
e
#
#
e
#
#
#
#
e
#
Exhibit G
Ratios to Total Deposits 1/
U.S. Government
securities maturing
within one year
L O A N S
Date
All
commercial
banks
B a n k s
M e m b e r
Reserve City Banks
New York City of
Total
Chicago Other
City
37.2
39.3
40.5
40.3
45.8
48.8
49.7
48.4
54.0
55.1
54.5
56.5
58.6
60.5
63.7
65.8
63.8
37.6
39.9
41.1
40.7
46.7
50.1
51.0
49.4
55.6
56.5
55.7
57.7
59.9
61.9
65.4
67.9
65.8
46.3
50.6
50.6
46.8
56.7
61.7
61.9
57.7
67.3
65.9
65.0
67.9
67.4
69.3
75.9
83.5
79.9
36.2
38.9
39.1
38.3
46.3
52.7
55.2
49.4
58.2
60.8
58.0
61.4
62.1
64.4
70.2
77.0
70.8
39.4
41.1
42.2
41.9
48.5
52.7
53.3
51.3
58.2
59.0
57.7
60.1
63.3
65.0
68.7
70.2
68.1
32.1
33.9
36.1
37.1
40.7
42.6
44.1
44.4
48.2
50.3
50.2
51.7
53.8
56.0
57.9
59.2
58.2
9.8
11.7
16.9
10.0
5.1
7.5
8.4
8.3
7.4
8.7
11.2
9.5
7.5
8.0
7.3
6.1
6.4
64.0
63.9
64.6
65.4
65.7
66.1
66.2
66.2
66.0
65.4
66.0
64.7(63.7)
65.6
65.5
66.4
67.4
67.6
68.1
68.1
68.1
68.1
67.4
68.3
66.8
80.2
79.7
81.8
84.4
84.9
85.1
87.5
89.2
87.5
85.7
87.9
83.5(76.3)
70.0
70.3
75.1
75.6
75.6
78.6
76.1
75.5
76.6
74.4
76.4
75.1
67.4
67.5
68.6
69.8
70.0
70.5
69.6
69.3
69.6
69.3
70.6
69.1
58.2
58.2
58.3
58.9
59.1
59.3
59.5
59.6
59.5
59.0
59.2
58.2
6.3
5.9
5.5
4.9
5.1
5.1
5.4
5.3
5.5
6.5
5.7
6.1
1969—Jan. 29* 66.2(64.7)
Feb. 26* 67.4(65.9)
Mar. 26* 68.1(66.4)
Apr. 30* • 68.4(66.7)
May 28 f70.0(68.2)
(old) June 25' 71.5(69.0)
(new) June 25' 72.8(70.3)
July 30 73.2(70.5)
Aug. 27•• 73.0(70.2)
Sept .24' 73.3(70.6)
Oct. 29" 73.0(70.4)
68.4
69.7
70.5
70.9
72.6
74.3
75.8
76.3
75.3
76.4
76.1
86.1(76.0)
71.0(79.7)
94.1(80.9)
94.4(80.2)
99.7(84.9)
105.6(85.6)
108.4(86.5)
110.9(88.6)
106.0(84.0)
108.0(86.3)
112.0(85.0)
77.1
80.1
83.8
83.1
85.5
88.6
91.0
91.8
94.2
97.5
96.2
71.4
72.1
72.9
73.4
75.0
77.0
78.4
78.8
,78.8
79.4
78.9
59.2
59.8
60.2
60.3
61.4
61.9
63.0
63.2
63.6
63.3
63.4
6.0
5.4
5.7
5.0
4.6
4.2
4.2
4.5
4.7
4.6
n.a.
1951—Dec.
1952--Dec.
1953—Dec.
1954—Dec.
1955—Dec.
1956--Dec.
1957—Dec.
1958—Dec.
1959--Dec.
1960--Dec.
1961—Dec.
1962—Dec.
1963—Dec.
1964—Dec.
1965—Dec.
1966—Dec.
1967—Dec.
31
31
31
31
31
31
31
31
31
31
31
28
25
31
31
31
30
1968—Jan. 31
Feb. 28
Mar. 27
Apr. 24
May 29
June 29
July 31
Aug. 28
Sept.25
Oct. 30
Nov. 27
Dec. 31*
Country
All commercial
banks
NOTE: Comparability of figures affected by changes in Federal Reserve membership,
merger, and by changes in the reserve classification of cities or individual banks.
p - Preliminary.
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.)
- Ratios in parenthesis are those obtained by adding Euro-dollars to the deposit base.
Digitized for*FRASER
L.4.3 - EXHIBIT H, PART 1
DEPOSITS AND CURRENCY AND TURNOVER OF DEMAND DEPOSITS
Seasonally adjusted. Deposits, average of daily figures. Turnover, monthly.
Anni
1 1 1 1 1 1 1 1 1 1 1
55
Billions of dollars
1 1 1 1 1 1 1 1 1 1 1
-
I—
205
*
50
w
TIME AND SAVMNGS D E P O S I T S /
ALL COMMERCIAL 1BANKS
-
/
Y
185
45
MONEY S U P P L Y / ^ * ^
-
.
/r^
ytjV
40
-
/TURNOVER
/ X /
'
OUTSIDE N.Y.C.
232 SMSA'S
165
-
/ — '
145
10
35
10
U.S. GOVT. DEPOSITS
MEMBER BANKS
111
1966
• c h a n g e i n series.
1967
1
1968
1 1 1 1 1 1 1 1 1 1 1
1969
Exhibit H - Part II
P e r i o d
Total
Gross liabilities of
U .S . banks, to 3/ <
their foreign brancht
125.1
130.4
132.1
141.3
34.2
36.3
38.3
40.4
126.6
146.7
158.5
183.7
5.1
4.4
3.5
4.6
33.3
37.4
40.0
41.1
1,183
1,345
4,036
4,241
1968—January
February
March
April
May
June
July
August
September
October
November
December
182.6
183.3
184.2
185.1
186.8
188.2
189.6
191.0
191.4
191.8
193.6
194.8
142.0
142.6
143.2
143.8
145.3
146.3
147.5
148.6
148.8
149.1
150.5
151.4
40.6
40.7
41.1
41.3
41.6
41.9
42.1
42.4
42.7
42.8
43.2
43.4
184.1
185.8
187.2
187.7
188.2
188.6
191.1
193.8
196.4
199.4
202.1
204.9
5.4
7.1
6.7
5.2
3.7
3.9
2.7
4.8
5.3
5.0
4.7
4.2
r
r
r
r
41.6
42.1
41.6
42.3
43.0
43.4
43.7
43.7
43.6
45.2
45.0
44.8
4,259
4,530
4,920
5,020
5,872
6,202
6,126
7,004
7,104
7,041
7,170
6,039
Octoberp
W e e k ending:
1969—October
5/
Turnover outside
N.Y. City*
(per cent) 5/
159.3
166.7
170.4
181.7
February
March
April
May
June
July
August
September
*
Not Seasonally Adj.
(In mil. of dollars)
1964--December
1965—December
1966--December
1967--December
1969—January
u
2/
3/
4/
S e a s o n a l l y
D a t a
A d j u s t e d
(Dollar amounts in billions)
Time and
1/
M o n e y
S u p p l y
U.S. Gov't.
v
savings 2/
deposits
deposits
Demand deposits
Currency
(all member) 1/
(All commercial)
1
8
15
22 P
29 p
1
195.8
152.3
43.5
196.3
196.8
198.1
198.3
199.0
199.3
r 199.0
r 199.0
199.2
152.5
152.7
154.0
153.8
154.2
154.4
153.8
r 153.6
153.6
43.8
44.1
44.2
44.5
44.8
45.0
45.3
r 45.2
45.6
198.3
199.7
198.7
200.0
198.4
153.1
154.3
153.1
154.3
152.7
45.2
45.3
45.6
45.7
45.7
203.2
202.4
202.3
202.3
201.7
200.8
197 . 7
194.5
r 194.1
193.5
194.3
193.9
193.8
193.3
193.4
5.4
r 46.2
8,545
6.7
4.8
5.9
5.9
4.0
2.4
2.9
r 4.4
3.1
r 47.0
46.1
r 47.2
r 47.5
48.4
r 49.4
r 49.7
50.9
n .a.
8,822
9,877
9,397
9,868
13,253
r 14,434
14,658
14,349
13,631
5.5
5.8
4.5
4.3
n.a.
n.a.
n.a.
n.a.
n.a.
14,111
14,609
14,970
14,306
13,631
Averages or aaiiy figures.
p - Preliminary.
Beginning on June 9, 1966, time deposit
data exclude $1.1 billion of balances accumulated for the payment of personal loans.
Last Wednesday of month.
Certain -changes in coverage and definitions have occurred that affect somewhat the comparability of the data. Breaks in the series are relatively
small.however.
Revised data available beginning September 1968. Revised data for earlier dates will be available later.
- Beginning January 1964, data for 232 metropolitan centers outside New Y o r k City."
+ #
L.4.3-EXHIBIT I, Parti
TIME AND SAVINGS DEPOSITS AT LARGE COMMERCIAL BANKS
Wednesday figures
Billions of dollars
120
TOTAL TIME AND SAVINGS DEPOSITS
100
80
CONSUMER TYPE TIME AND SAVINGS
60
SAVINGS DEPOSITS
40
CONSUMER TYPE TIME DEPOSITS
20
NEGOTIABLE CD's
STATE AND POLITICAL, FOREIGN OFFICIAL ETC.
s;
D
1966
M
J
1967
s
0
M
J
1968
s
M
J
1969
S
D
Exhibit I - Part II
Period
1966--Dec.
Dec.
1967--Dec.
Dec.
28
28
27
27
(old)
(new) 2/
(old)
(new) 2/
Total
89,495
89,639
102,809
102,991
Consumertype time
& savings
65,733
65,864
73,686
73,858
Time and Savings Deposits
ConsumerLarge
State Political
type
Savings
For. official
Negotiable
time
etc.
CD's 1/
47,099
47,213
48,647
48,781
18,634
18,651
25,039
25,077
-
1968--Oct.
Nov.
Dec.
Dec.
j
%
15,659
15,642
20,330
20,330
8,103
8,133
8,793
8,803
X-
30
27
31 (old)
31 (new) 2/
110,771
111,895
111,900
112,103
78,456
78,656
79,443
79.637
48,522
48,668
49,016
49,161
29,934
29,988
30,427
30,476
23,303
24,302
22,821
22,820
9,012
8,937
9,636
9,646
1969--Jan. 29
Feb. 26
Mar. 26
Apr. 30
May 28
June 25 (old)
June 25 (new) 2/
July 30
Aug. 27
Sept .24
110,030
109,211
108,408
106,949
106,188
103,967
103,959
100,602
98,998
97,899
79,471
79,944
80,492
79,834
79,811
79,619
79,604
78,784
78,189
78,140
48,340
48,335
48,667
47,737
47,691
47,550
47,550
46,953
46,688
46,533
31,131
31,609
31,825
32,097
32,120
32,069
32,054
31,831
31,501
31,607
21,031
19,968
18,792
17,622
16,973
15,270
15,271
13,538
12,616
11,744
9,526
9,299
9,124
9,493
9,404
9,078
9,084
8*280
8,193
8,015
97,977
97,684
97,343
97., 163
97,239
78,332
78,201
77,952
77,972
77,796
46,712
46,613
46,515
46,474
46,377
31,620
31,588
31,437
31,498
31,419
11,714
11,661
11,561
11,398
11,525
7,931
7,822
7,830
7,793
7,918
.969—Oct.
2/
1
8
15
22 p
29 p
Revised series
Exhibit J
Member B a n k Reserves
(Based on averages of daily figures; in millions of d o l l a r s )
Excess
Reserves
Free reserves
(excess reserves minus b o r r o w i n g s )
DATE
All
member
Reserve City Banks
City of
New Y o r k
Chicago
City
Other
Borrowings
Total reserves
held seasonally
adjusted
All
member
All
member
All
member
237
583
471
394
334
315
238
140
187
482
756
568
572
536
411
452
392
345
906
87
149
304
327
243
454
557
238
18,512
18,839
19,640
20,343
21,017
23,262
23,521
25,940
236
381
399
356
270
420
351
299
375
383
237
361
671
683
746
692
525
565
515
427
569
752
26,134
26.352
26,451
26,298
26.353
26,547
26,715
27,213
27,311
27,504
27,685
27,964
28,139
28,060
27,972
27,775
28,235
28,056
27,530
27.401
Country
Monthly Averages:
1 9 5 9 - •December
1960- •December
1961- •December
1962- •December
1963- -December
1964- •December
1965- •December
1966- -December
1967- •December
-424
669
419
1968--Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
144
38
-315
-413
-326
-341
1969—Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct. p
NOTE:
268
209
168
2
-165
107
-226
-190
-132
-167
-245
-297
' -480
-596
-701
-844
-1,102
-1,096
-1,095
946
831
-1,006
-109
10
- 50
- 62
19
- 14
- 70
- 95
- 22
-104
4
- 22
- 11
-
9
57
13
59
34
22
- 25
-164
-136
- 40
- 18
-130
-
- 60
- 67
- 44
-117
- 49
- 33
-101
-
89
30
60
52
64
-122
21
- 31
8
- 50
5
2
2
- 59
-105
- 64
- 43
- 78
2
- 19
4
9
- 70
-449
80
20
- 52
-122
-103
-161
-159
- 55
- 80
- 73
-253
-257
-189
-224
- 97
- 94
-133
-191
-258
-167
166
11
9
- 38
- 96
- 27
66
156
68
260
40
70
324
455
- 34
- 93
217
-100
217
152
697
824
918
996
300
1,402
312
1,408
1,191
1,249
1,067
1,136
-116
-337
-403
-456
-521
- 90
-148
7
- 15
- 47
- 37
- 34
-538
-671
-642
r -396
r -447
-556
-327
-402
-378
r -451
r - 83
-294
228
96
260
: 236
130
22,068
27.402
27,351
Total reserves revised beginning June 1967 due to a change in accounting procedures .associated w i t h Euro-dollar transactions,
BANKING AND MONETARY DEVELOPMENTS IN SEPTEMBER 1969
Exhibit K
Liquid Assets Held by the Public - Seasonally Adjusted Series 1/
(Amounts in billions of dollars; ratios expressed as percentages)
Time deijosits
End of
year or
month
Total
Demand
deposits and
currency 2/
Commercial
banks 3/
Mutual
savings
banks
2
3
4
130.2
48 .2
49 .7
52 .0
57 .5
65 .4
67 .4
73 .1
82 .5
98 .1
112 .9
127 .1
147 .1
159 .3
183 .1
26 .3
28 .1
30 .0
31 .6
33 .9
34 .9
36 .2
38 .3
41 .4
44 .5
49 .0
52 .6
55 .2
60 .3
186 .5
187 .6
187 .9
187 .6
187 .7
187 .9
191 .5
194 .0
196 .2
200 .4
204 .7
203 .8
# 60 .6
61 .1
61 .4
61 .7
62 .1
62 .6
62 .8
63 .0
63 .4
63 .8
64 .3
64,.7
203 .4
202 .9
201 .9
200 .6
199 .6
197 .3
193 .9
192 .2
191. 8
193. 9
64 .8
65 .2
65 .5
65 .7
66 .1
66 .2
66 .3
66 .4
r 66.6
66. 9
1
1954
1955
1956
1957
1958
1959
1960
1961
1962
1963
1964
1965
1966*
1967
320 .3
332 .5
343 .2
356 .0
373 .1
393 .9
399 .2
424 .6
459 .0
495 .4
530 .5
573 .1
601 .5
650 .4
1968
Jan.
Feb. Mar.
Apr.
Hay
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
655 .8
658 .6
665 .6
664 .6
667 .8
670 .8
676 .5
679 .6
684 .9
693 .1
699 .4
709 .5
1969
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct. p
703 .7
705 .6
713,.1
709 .7
710 .7
710 .6
704. 2
708. 8
r 713.5
708. 7
133 .3
134 .6
133 .5
138 .8
139 .7
138 .4
142 .6
144 .8
149 .6
156 .7
164 .1
168 .6
180 .7
179 .6
178 .2
181..7
181,.1
183 .9
186 J
186..2
185..9
186 .4
188 .0
190 .6
S 199 .1
188..7
189,.8
192..4
190,,5
190.,9
194..0
190. 2
192..3
193. 3
193. 1
Postal
Savings
System
5
/
2.1
1.9
1.6
1.3
1.1
0.9
0.8
0.6
0.5
0.5
0.4
0.3
0.1
—
——
——
——
——
——
——
—
——
-—
——
——
--
- -- —
- - -«•—
--
U. S. Gov't,
securities
maturing
within one
year 6/
6
7
8
Liquid
assets
to gross
national
product 7/
9
27.2
32.0
37.0
41.7
47.7
54.3
61.8
70.5
79.8
90.9
101.4
109.8
113.4
123.9
55..6
55,.9
54..8
51,.6
50..5
47,.9
47..0
47..4
47..6
49..0
49..9
50..5
50,.9
51..9
30 .6
31 .6
33 .2
38,.8
35 .6
48 .8
41,.9
42 .6
46,.8
48 .1
46 .1
48 .6
53 .9
50,.5
85..3
81..3
79..7
80..5
79,.5
80,.2
79 .0
78,.4
79 .5
81 .0
81 .5
79 .8
77 .6
78.,7
# 123.6
124.6
125.8
125.9
126.4
126.8
127.2
128.1
129.5
130.0
130.8
131.0
51..9
51..8
51..8
51,.8
51,.8
51..9
51,.9
52 .0
52 .0
52 .0
52 .1
52,.5
53 .6
55 .4
57 .0
56 .5
55 .9
54 .9
56 .9
56 .6
57 .4
58 .9
57 .0
58 .5
131.0
132.0
133.4
133.3
133.6
133.7
133.6
134.1
135.2
134.8
52 .5
52 .3
52 .2
52 .2
52 .2
52 .2
52 .2
52. 1
52. 0
52.0
63 .4
63 .4
67 .7
67 .5
68 .3
67 .3
68.,1
71.,6
r 74..6
68.,0
U. S. Gov't,
.Savings
savings
and loan
bonds 5/
shares 4/
Ratios:
Commercial
Demand deposits and bank deposits
currency to tnd currency to
gross nation- liquid assets
al product 7/ ( 2 + 3 * 1 )
11
10
34,.7
32,.6
31..3
30,.4
29,.7
28,.6
27,.5
26 .4
25 .1
24 .6
24 .1
22 .8
21 .8
21 .9
78.,7
21 .7
77..7
21 .5
77.,4
21 .4
78 .1 '
21 A
77 .9
21 .2
76..9
20,.8
75..2
20,.4
55. 7
55. 0
54.,4
53. 6
54.,8
52. 6
53. 0
53. 0
52.,9
53.,0
53..5
54..3
54..5
55..9
55,.8
55 .5
55 .5
55 .5
55 .6
55 .8
55 .8
55 .9 '
55 .9
56 .0 •
56 .5
56 .8
•
55 .7
55 .6
55 .3
55 .1
54 .9
55 .1
54 .5
54.,3
r 54,.0
54,.6
For footnotes see next page.
r - Revised.
P ™ Preliminary.
e •* Estimated.
* . Beginning with data for June 1966, total liquid assets and time deposits at commercial banks exclude $1.1 billion of balances accumulated for the
payment ef personal loans.
# - Reflects conversion of a savings and loan association with share capital of about $175 million to a mutual savings bank.
S - Figures are for Tuesday, December 31, rather than for the last Wednesday of December.
NOTE: Total liquid assets and U.S. Government securities maturing within 1 year revised beginning January 1969 to conform to new Budget concept. Both
FRASER
figures were increased by $1.7 billion on that date.
Digitized for
http://fraser.stlouisfed.org/
• Reserve Bank
e of*St. Louis
Federal
#
+
•
•
•
•
#
#
•
•
#
#
e
e
#
e
#
e
Exhibit K (Continued)
1.
Excludes holdings of the! United States Government, Government agencies and trust funds, domestic commercial banks, and Federal Reserve Banks. Adjusted to avoid double counting whenever possible.
All series adjusted for seasonal variation by the X-9 variant of Method II
developed by the Bureau of the Census.
2.
Data are for demand deposits adjusted and currency outside banks and are as of the last Wednesday of the month.
In concept the figures agree with the daily average money supply de- •'
scribed in detail in the Federal Reserve Bulletin for August 1962,p. 941, except that demand
deposits held by mutual savings banks and by savings and loan associations have been deducted
to avoid double counting.
Demand deposits of commercial banks in Alaska and Hawaii are included beginning January 1959 and August 1959, respectively, except that one national bank
in Alaska and one national bank in Hawaii were included in April 1954 and April 1959, respectively. Demand deposits due to banks in United States possessions are included throughout. Data have not been revised to conform with the daily average money supply revision
(beginning June 1967) associated with Euro-dollar transactions.
3.
Total time deposits at commercial banks except interbank, U.S. Treasurer s open account, and
postal savings redeposited in commercial banks.
Data are as of the last Wednesday of month
except June 30 and December 31 when call data for these dates were used when available. Time
deposits of commercial banks in Alaska and Hawaii and time deposits due to banks in U. S.
possessions are included as indicated for demand deposits in footnote 2 above.
4.
Figures compiled by the Federal Savings and Loan Insurance Corporation except that prior to
1955 data are Board estimates based on monthly figures of inflow of new savings and withdrawal of savings capital compiled by the Federal Home Loan Bank Board.
5.
Includes all types of savings bonds held by investors other than commercial and mutual savings banks and U.S. Government agencies and trust funds. Holdings of savings and loan associations are also excluded beginning in February 1960, the earliest date for which separate
figures for these institutions are available.
Figures are from data compiled by the U. S .
Treasury Department.
6.
Beginning December 1950 figures include Treasury marketable securities and Federal agency
securities maturing within one year, except holdings of domestic commercial, mutual savings,
and Federal Reserve Banks, Government agencies and trust funds, and beginning February 1960,
savings and loan associations.
Figures have been adjusted to include partially tax-exempt
securities 12 months prior to first call date, and prior to 1956, nonmarketable Treasury savings notes with Maturities up to 36 months.
Prior to December 1950 figures for marketable
issues include securities callable within one year. Figures represent par value and are from
the U. S. Treasury Department's Survey of Ownership of U. S. Government Securities.
7
Gross national product figures are available quarterly and annually only.
Data for total
liquid assets used in computing these ratios are quarterly averages calculated for. four dates
(each month of the current quarter and the last month of the preceding quarter).
@FedFRASER