The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
October 1977 Not f o r publication BANKING AND MONETARY DEVELOPMENTS September 1977 Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System Table I Changes in Commercial Bank Credit, Honey Stock and Time Deposits Seasonally adjusted annual rates (per cent) 1976 4 th Qtr. 1st Qtr. 2nd Qtr. 3rd Qtr. 11.2 8.5 1977 1st half Year half 3rd Qtr. 8.8 9.5 7.5 11.3 9.5 22.5 5.5 .8 10.1 25.9 2.3 4.7 6.6 2.7 .5 12.9 7.3 6.7 & 5 11.6 9.0 13.9 9.0 11.6 14.5 2.7 8.6 4.6 12.4 7.6 11.8 Real estate loans 10.2 9.7 9.3 9.9 12.6 12.7 15.1 15.3 14 i 3 10.3 Total bank c r e d i t ^ U.S. Govt, sec. Other securities Loans^ Business loans Consumer loans 6.6 -22.0 10.5 Julyp Augp Seotc 9.2 12.4 3.9 16.4 -27.4 -3.5 —36.3 7.8 4.6 10.4 15.9 16.5 10.7 7.6 9.8 8.3 12.7 1.9 15.1 16.1 14.1 14.3 16.4 16.9 14.6 n.a. 12.6 13.4 20.9 9.4 n.a. Adjusted to include loans sold to selected affiliates Total bank c r e d i t ^ 8.6 9.3 7.2 11.2 9.5 11.2 8.5 10.5 9.3 12.3 3.7 1/ Loans- 8.3 11.2 8.5 13.7 9.1 11.5 14.4 10.4 16.0 16.4 10.4 Business Loans 2.6 8.0 3.9 12.0 8.1 11.9 7.5 10.1 8.2 12.5 1.9 Money Stock - 5.6 5.5 4.9 7.2 3.8 8.2 10.6 6.4 18.3 5.5 7.7 Total time deposits 8.1 9.7 6.2 15.7 9.5 9.5 8.5 10.5 11.0 6.9 7.6 Time other than CD's 15.2 15.2 14.5 18.1 11.9 9.4 10.4 12.1 15.4 7.1 8.4 .2 -1.1 1.7 -.7 .6 -1.1 .4 CD's (dollar change in billions) 1/ •18.8 -6.9 -7.1 Adjusted to exclude domestic interbank loans. n.a. - Not available. — Table 2 Loans and Investments at All Commercial Banks (Seasonally Adjusted) Date Total-/ Loans—^ U.S. Gov't Securities (In billions of dollars) 62.6 378.9 54.5 449.0 50.4 500.2 79.4 496.9 Other Securities 116.5 129.9 139.8 144.8 December •December December December 31 31 31 2/3/ 31 558.0 633.4 690.4 721.1 July August September October November December 28 25 29 27 24 31 751.4 758.0 762.9 771.6 778.8 784.4 512.1 516.0 520.8 529.6 533.1 538.9 93.2 95.6 94.9 94.4 95.4 97.3 146.1 146.4 147.2 147.6 150.3 148.2 •January February March April May June July August September 26p 23p 3 Op 27p 25p 3 Op 27p 31p 28p 786.6 796.4 803.0 812.4 819.4 825.5 831.8 840.4 843.1 540.9 545.4 551.0 557.7 562.1 567.0 574.5 582.4 587.6 96.9 101.5 103.6 102.8 104.6 105.3 102.9 102.6 99.5 148.8 149.5 148.4 151.9 152.7 153.2 154.4 155.4 156.0 1/ Adjusted to exclude domestic commercial interbank loans. 2/ 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 vhe 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 mideastern bank. Table 3 LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES Loans sold outright by commercial banks (outstanding in billions of dollars, N.S.A.) v Commercial bank credit • • j i j Total loans and investments Total Loans Business Loans i Date Business Loans Total 1972—Dec. 1^7/ * 5/6/ 1 974—Dec. 1975—Dec• 2.6 4.3 4.8 4.4 1 9 7 6 — S e p t . 29 Oct. 27 Nov. 24 Dec. 31 3.9 3.8 3.8 3.8 2.5 2.4 2.4 2.4 4.0 3.9 4.0 4.0 4.0 j 4.0 j 4.1 i 4.1 4.0 2.6 2.6 2.7 2.8 2.8 2.8 2.8 2.8 2.8 DeC 1 9 7 7 — J a n . 26p Feb. 23p Mar. 30p Apr. 27p May 25p June 30p July 27p Aug. 31p Sept.28p ! 1.7 2.6 2.7 2.5 ! | 558.0 633.4 690.4 721.1 ! ; , ! 762.9 771.6 778.8 784.4 1 786.6 796.4 803.0 812.4 819.4 825.5 831.8 840.4 843.1 i 3/ Adjusted— ! Original ! i | 1 i 560.6 637.7 695.2 725.5 766.8 775.4 782.6 788.2 790.6 800.3 807.0 816.4 823.4 829.5 835.9 844.5 847.1 Original j ! j 378.9 449 .0 500.2 496.9 j | ! 520.8 529.6 533.1 538.9 : I j 540.9 545.4 551.0 557.7 562.1 567.0 574.5 582.4 587.6 1 3/ 1 , Adjusted— i Original 1 1 1 ' 381.5 453.3 505.2 501.3 j I 524.7 533.4 536.9 542.7 j ' ! j 544.9 549.3 555.0 561.7 566.1 571.0 578.6 586.5 591.6 130.2 156.4 183.3 176.0 174.1 176.8 179.0 179.5 ! 1 j 1 i ! 179.8 181.2 182.9 184.9 185.9 188.3 189.6 191.6 191.9 4/ Adjusted— 131.9 159.0 186.0 178.5 j I , ! i ! ! : 1 1 176.6 179.2 181.4 181.9 182.4 183.8 185.6 187.7 188.7 191.1 192.4 194.4 194.7 1/ T o b a n k h o l d i n g c o m p a n i e s , a f f i l i a t e s , s u b s i d i a r i e s , and f o r e i g n b r a n c h e s . B e g i n n i n g A u g u s t 28, 1 9 7 4 , l o a n s sold o u t r i g h t to s e l e c t e d a f f i l i a t e s r e f l e c t a n e w l y i s s u e d d e f i n i t i o n of the group of a f f i l i a t e s i n c l u d e d as w e l l as a s o m e w h a t d i f f e r e n t group of r e p o r t i n g b a n k s . 2/ To o t h e r t h a n b a n k s ' and b a n k - r e l a t e d a f f i l i a t e s or s u b s i d i a r i e s . 3/ 4_/ 5/ I n c l u d e s a l l l o a n s sold to b a n k h o l d i n g c o m p a n i e s , a f f i l i a t e s , s u b s i d i a r i e s , or f o r e i g n b r a n c h e s . I n c l u d e s b u s i n e s s l o a n s sold to b a n k h o l d i n g c o m p a n i e s , a f f i l i a t e s , s u b s i d i a r i e s , or f o r e i g n b r a n c h e s . B e g i n n i n g J u n e 30, 1 9 7 4 , d a t a r e v i s e d to i n c l u d e one l a r g e m u t a l s a v i n g s b a n k w h i c h m e r g e d w i t h a n o n m e m b e r c o m m e r c i a l b a n k . bank Total loans and i n v e s t m e n t s w e r e i n c r e a s e d b y a b o u t $ 6 0 0 m i l l i o n of w h i c h $500 m i l l i o n w e r e in l o a n s . 6/ B e g i n n i n g O c t o b e r 31, 1 9 7 4 , a s the r e s u l t of the l i q u i d a t i o n of o n e l a r g e b a n k , total l o a n s and i n v e s t m e n t s w e r e r e d u c e d by $ 1 . 5 b i l l i o n ; t o t a l l o a n s by $ 1 . 0 b i l l i o n ; and b u s i n e s s l o a n s by $0.6 b i l l i o n . H o w e v e r , as the result of loan r e c l a s s i f i c a t i o n s at a n o t h e r l a r g e b a n k , b u s i n e s s l o a n s w e r e i n c r e a s e d by $ 0 . 1 b i l l i o n . 7/ B e g i n n i n g M a r c h 31, 1 9 7 6 , as the r e s u l t of l o a n r e c l a s s i f i c a t i o n s in C h i c a g o C i t y and in the S a n F r a n c i s c o D i s t r i c t , b u s i n e s s l o a n s w e r e r e d u c e d by $ 1 . 2 b i l l i o n . n - Preliminary. n.a. - Not available. Table 4 Loans at Commercial Banks Seasonally adjusted Business Real Estate Consumer Security Nonbank Financial Agriculture (In billions of dollars) 1972—Dec. 1973—Dec. 1974—Dec. 1975—Dec. 31 31 31 31 130.2 156.4 183.3 176.0 98.1 117.7 130.2 134.4 71.8 83.4 87.0 89.9 14.7 12.2 11.4 12.3 22.1 28.0 14.5 17.5 18.4 20.4 1976—Sept. Oct. Nov. Dec. 29 27 24 31 174.1 176.8 179.0 179.5 145.4 146.4 147.7 149.0 97.8 98.8 99.7 101.3 14.9 16.7 15.8 17.7 25.8 26.9 26.7 25.6 22.7 23.0 23.3 23.5 1977—Jan. Feb. Mar. Apr. May June July Aug Sept 26p 23p 30p 27p 25p 3Op 27p 31p 28p 179.8 181.2 182.9 184.9 185.9 188.3 189.6 191.6 191.9 150.5 152.1 153.7 155.5 157.2 159.5 161.4 163.6 165.9 101.8 102.6 103.9 105.5 106.3 107.7 108.9r 110.8 n.a. 17.2 17.3 17.6 27.1 27.0 26.4 26.8 26.6 26.1 23.7 23.8 24.2 24.7 25.1 25.6 25.7 25.4 25.8 26.5 27.0 18.2 18.7 17.7 18.0 18.7r 18.6 28.9 33.3 26.0 n.a. - Not available r - revised P - Preliminary. 1/ Beginning June 30, 1974, data revised to include one large mutual savings bank which converted to a nonmember commercial bank. Real estate loans were increased by $.5 billion. 2/ Beginning October 31, 1974, as the result of the liquidation of one large bank, business loans were reduced by $0.6 billion; real estate loans by $0.2 billion; and nonbank financial loans by $0.2 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. 3/ Beginning March 31, 1976, as the result of loan reclassification business loans were reduced by $1200 million, real estate loans increased by $800 million; and nonbank financial by $200 million. Table 5 Changes in Loans and Investments at all Commercial Banks, Seasonally Adjusted (In billions of dollars) 1976 Item 1977 JantP NOV FefriP Mar.p June p ! Julv p Sept. Oct. +4.9 +8.7 +7.2 +5.6 +2.2 +9.8 +6.6 +9.4 +7.0 +6.1 +6.3 +8.6 U.S. Gov't securities -.7 -.5 +1.0 +1.9 -.4 +4.6 +2.1 —. 8 +1.8 + .7 -2.4 -.3 Other securities + .8 +.4 +2.7 -2,1 +.6 + .7 -1.1 +3.5 I + +1.2 +1.0 +4.8 +8.8 +3.5 +5.8 +2.0 +4.5 +5.6 +6.7 • +4.4 I +4.9 +7.5 +7^9 Business +1.0 +2.7 +2.2 +.5 +.3 +1.4 +1.7 i +1.0 ; +2.4 +1.3 +2.0 Real estate +1.4 +1.0 +1.3 +1.3 +1.5 +1.6 +1.6 +1.8 +1.7 +2.3 +1.9 +2.2 Consumer +1.3 +1.0 +.9 +1.6 +.5 +.8 +1.3 +1.6 + .8 +1.4 +1.2 +1.9 Security -1.1 +1.8 -.9 +1.9 -.5 + .1 + .3 + .6 ; -1.0 + .3 1 i ' • -.2 -.5 -.4 I 2/ Loans and Investments— 2/ Loans- Mav p Aor.D +2.0 ; +.8 + - -5 + .7r 5 Nonbank financial -.1 +1.1 -.2 -1.1 +1.5 -.1 - .6 +.4 Agriculture +.5 +.3 + .3 + .2 +.2 +1. + .4 + .5 + .4 H-.5 +.4 I +.5 +1.8 +.9 -.1 -1.5 + .6 + .9 -.2 + .2 -.2 +2.8 +.9 All other 1/ Less than $50 million. 2/ Adjusted to exclude interbank loans p-Preliminary. +1.4 Table 5A Changes in Loans and Investments at A l l Commercial Banks, Seasonally Adjusted Adjusted for Loans Sold to Affiliates (In billions of dollars) 1977 Item Sept. Oct. Nov. Dec. Jan.p. +4.8 +8.6 +7.2 +5.6 +2.4 U.S. Gov't securities -.7 -.5 +1.0 +1.9 -.4 Other securities + .8 + .4 +2.7 -2.1 + +4.7 +8.7 +3.5 +5.8 +1.0 +2.6 +2.2 + .5 2/ Loans and Investments— 2/ LoansBusiness i 1/ Less than $50 million. 2/ Adjusted to exclude interbank loans p-Preliminary. .6 +2 .2 + .5 | 1 , Julyp Aug.p Mar .p Apr.p May p. Junep +9.7 +6.7 +9.4 +7.0 +6.1 +6.4 +8.6 +2.6 +4.6 +2.1 -.8 +1.8 + .7 -2.4 -.3 -3.1 + .7 -1.1 +3.5 + .8 +.5 +1.2 +1.0 + .6 +4.4 +5.7 +6.7 +4.4 j +4.9 1 +7.6 +7.9 +5.1 +1.4 +1.8 +2.1 +1.0 +2.0 + .3 Feb .p ' 1 | i1 +2.4" +1.3 ! Septp i = Table 6 Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, Not Seasonally Adjusted Adjusted for Loans Sold (In billions of dollars) Last Wednesday of August to last Wednesday of September Item 1977c 1976r 1975 1974 1973 1972 1971 All commercial banks Total loans U. S. Gov't, securities Other securities Total +5.7 -. 9 4-.7 +5.5 +5.8 +1.0 +1.0 +7.8 +2.5 +3.3 +.5 +6.3 + .6 -1.3 + .8 +.1 +4.8 + .2 +1.5 +6.4 +7.1 +1.0 +1.2 +9.3 +4.3 1/ +1.8 +6.2 All Large Banks Total loans U. S. Gov't, securities Other securities Total +2.6 —. 8 + .7 +2.5 +2.2 +.2 +1.6 -.1 +1.7 -.7 -1.1 -1.7 +2.7 +.2 +.8 +3.7 +4.6 +.7 + .3 +5.6 +2.5 1/ + .7 +2.9 Other banks Total loans U. S. Gov't, securities Other securities Total +3.1 -.1 1/ +3.0 +3.6 +1.0 +.3 +4.9 +2.3 +1.7 +. 6 +4.6 +1.3 -.3 +.7 +1.8 +2.1 +2.5 +.3 + .9 +3.7 +1.8 -.1 +.7 +2.4 + .1 — + .6 +2.7 + .1 +1.1 +3.7 End of December to last Wednesday of September Item 1977P 1976r 1975 1974 1973 1972 All commercial banks Total loans U. S. Gov't, securities Other securities Total +39.4 —4.6 +6.9 +41.7 +14.9 +9.4 +1.5 +25.8 -18.2 +20.9 +3.9 +43.2 -7.6 +6.9 +42.6 +54.8 -11.9 +7.7 +50.6 +32.5 -4.6 +9.3 +37.2 +15.1 -3.0 +13.1 +25.2 All Large Banks Total loans U. S. Gov't, securities Other securities Total +10.7 -5.2 +4.2 +9.7 +25.8 -5.7 +.3 +20.4 +31.9 —8.0 +16,0 +1.1 +2.2 +25.0 +14.9 44.5 -3.6 +5.4 +6.3 +17.4 -1.9 +6.6 +22.9 -3.9 +16.5 -1.4 +7.1 +25.6 +22.2 Other banks Total loans U. S. Gov't, securities Other securities Total 1/ 2/ +28.7 +.6 +2.7 +32.0 -7.5 +6.6 -25.3 +2.8 +11.0 + .1 -4.6 -16.6 +22.4 +6.6 +1.4 +30.4 +7.1 +9.9 +6.2 +23.2 -2.3 +22.2 +6.6 -3.3 1971 +10.7 +.6 +7.7 +18.9 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 1976-77. 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) Late December to late September 2/ Late August to late September 1/ Business of borrower 1973 1974 1975 1976r 1977p 1973 1974 1975 1976r 1977p -1559 —80 412 -434 273 157 237 -144 120 121 —468 -826 -106 -598 -572 -65 -85 48 114 -92 1838 -1802 991 1916 1615 2 12 193 -173 242 883 -634 • 481 1302 1044 53 -37 -43 -104 161 955 510 -1168 614 571 140 45 49 -69 81 3938 -3060 -2161 2899 517 554 -246 67 379 230 15 119 -33 42 209 100 25 90 57 73 2084 -2149 -1092 1978 —108 -296 104 -50 323 179 982 -492 -734 289 145 80 19 17 75 -77 753 -434 -302 590 271 6 10 100 94 55 -330 1018 858 967 807 9 -122 -72 -38 15 346 430 127 230 55 367 56 32 -3 -38 -500 931 -171 858 322 -13 75 95 128 69 -890 1423 -35 1162 489 72 51 -25 139 162 -418 58 496 272 517 62 5 66 30 76 145 956 663 408 875 113 295 49 153 33 -2441 -2651 2724 2417 -931 -100 -264 465 -98 675 158 -394 -861 442 -173 -7 -91 47 -49 22 396 -398 267 -5.15 -110 1 -93 26 -70 55 1708 2170 -1649 -1275 —648 -94 —80 398 21 598 815 -973 -337 1049 619 140 -5 -12 -28 -3 -1197 1924 -5128 3121 -2772 -220 807 96 103 11 78 440 -1535 -3107 -476 -31 569 81 —68 -1396 730 -447 1549 86 85 -100 12 -1 103 -241 -3146 1116 2048 249 -89 153 23 84 -24 825 134 403 170 -971 -93 -45 -51 158 -139 -12044 -8535 16408 15554 219 672 1190 187 1498 1362 -628 -172 1618 1718 2645 251 138 -15 371 32 18126 ?86A . . 17172 -12672 -8707 923 172 1561 1,194 , 1636 Four most comparable weeks used throughout. Changes are compiled from December 27, 1972; December 26, 1973^ December 31, 1974; D e c e m b e r ^ , 1975; a n December 29, 1976. These data cannot be linked with all commercial bank data w h i m are always for December 31. 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 1/ 2/ ~ •< Table 8 Loans and Investments of All Commercial Banks (In billions of dollars) (Not seasonally adjusted) Loans and U.S. investments Gov't Date Other Total securities loans 86.1 Business Real estate Security Farm 11.2 53.6 12.5 14.3 17.3 61.2 1 9 7 0 — D e c . 31 1971—Dec. 1 9 7 2 — D e c . 31—' 1973—Dec. 1974—Dec. 1 9 7 5 — D e c . 31 446.8 497.9 571.4 647.3 705.6 737.0 61.7 64.9 67.0 58.3 54.5 84.1 104.7 117.1 130.6 140.5 145.5 299.0 328.3 387.3 458.5 510.7 507.4 112.5 118.5 132.7 159.4 118.0 179.4 130.6 134.8 12.1 12.9 17.6 14.6 13.6 14.8 1976--Sept .29 Oct, 27 Nov. 23 Dec. 31 763.3 770.0 778.5 801.6 93.5 94.4 98.0 102.5 147.0 147.1 148.6 148.9 522.8 528.5 531.9 550.2 174.6 176.2 178.3 182.9 146.1 147.3 148.4 149.5 1977-—Jan. Feb. Mar. Apr. May June July Aug. Sept 784.9 790.0 801.1 809.6 816.6 830.5 829.1 837.6 843.1 101.1 102.6 104.7 103.0 101.9 101.7 99.5 98.9 98.0 147.9 148.5 148.7 153.1 153.4 154.4 154.2 155.1 155.8 536.0 538.9 547.7 553.5 561.3 574.4 575.4 583.6 589.3 177.8 179.4 182.8 185.1 186.1 190.7 189.6 190.6 192.3 150.3 151.3 152.8 154.7 156.6 159.3 161.4 164.1 166.7 l\±H/ 26p 23 P 3 Op 27 P 25 P 30p 27p 31p 28p 186.8 72.5 81.6 98.4 Consumer 18.2 20.2 72.1 83.7 87.3 90.2 14.6 16.4 15.8 21.2 22.9 23.0 23.1 23.3 98.7 99.5 100.0 101.7 16.9 17.0 17.5 17.1 18.3 18.1 17.5 18.2r 18.2 23.3 23.4 23.9 24.6 25.3 101.3 101.5 102.5 104.4 105.9 108.1 109.6 111.9 n.a. 26.1 26.5 27.0 27.3 Nonbank financial instiutions All other 21.2 15.9 16.9 23.4 30.5 35.2 29.6 26.0 26.3 26.1 27.0 26.5 26.1 26.4 26.3 26.3 27.1 25.9 25.9 25.9 24.7 28.8 35.0 38.8 38.1 39.9 39.8 40.2 44.6 39.9 40.2 41.8 41.3 42.8 45.0 44.9 45.9 n.a. n.a. - Not available p - Preliminary NOTE: 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. 1/ loans" 1 1 1 8 J U n e 9 * 1 9 6 6 , ^ 1 ' 1 Million of balances accumulated for the payment of personal loans were deducted from time deposits and "all other" 2/ Beg i n n i n g June 30, 1966, about $1 billion of participation certificates previously included in agricultural and "all other" loans were reclassified 9.s otii0ir securities , 3/ W 5/ 6/ 7/ Data revised beginning June 1969, to include all bank premises subsidiaries and other significant majority-owned domestic subsidiaries. eal 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. Beginning June 1972, business loans were reduced by $400 million, nonbank financial institutions increased by $.'00 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 w h i c h merged w i t h a nonmember commercial bank. Total loans and investments were increased by about $600 million of which $500 million were in loans and $100 in "other securities." Beginning October j1, 1974 as the result of the liquidation of one large bank, total loans were reduced by $1.0 billion; business by $0.6 billion; real estate loans by $0.2 billion;ononbank financial loans by $0.2 billion; and "other securities" by $0.5 billion. However, business loans were increased and real estate loans reduced by $0.1 billion as the result of loan reclassifications at one large mideastern bank. TABLE 9 * ^ Ratios of Total Deposits L O A N S M e m b e r All commercial banks D A T E 19681969197019711972197319741975- -Dec. -Dec. -Dec. -Dec. -Dec. -Dec. -Dec. -Dec. 31* , 31*^' 31*-< 31*^ Z 31* 31* 31* 31* 64.7 72.0 67.3 65.7 67.9 72.0 72.9 (63.7 (69.8 (66.2 (65.6 (67.7 (71.8 (72.5 68. 1 9 7 6 — J u n e 30* July 28* Aug. 25* Sept.29* Oct. 27* Nov. 24* Dec. 31* 69.4 70.3 70.9 70.9 71.0 70.6 69.7 (69.1 (69.9 (70.4 (70.3 (70.5 (70.1 (69.1 1977—Jan. Feb. Mar. Apr. May June July Aug. Sept 70.4 70.5 70.6 71.1 72.2 72.3 72.6 72.7 73.4 (70.0 (70.1 (70.2 (70.8 (71.8 (71.9 (72.3 (72.4 (72.9 26*p 23*p 30*p 27*p 25*p 29*p 27*p 31*p 28*0 Total 66.8 75.7 69.9 68.0 70.6 75.3 76.0 B a n k Reserve City Banks City New York of Chicago City 83.5 102.8 87.5 84.1 85.4 87.7 87.4 (76.3) (86.4) (79.6) (83.2) (84.0) (86.4) (85.8) 75.1 89.5 80.6 78.1 87.2 93.7 91.5 Country Other 69.1 79.5 73.3 71.6 77.3 81.7 81.9 MMtll ! I J p O & L Y ON C'llh* DATES ianPdITA 76.8 82.7 (78.6) 87.9 71.9 72.0 85.7 (81.5) 94.1 76.0 58.2 62.8 60.2 59.2 60.1 53.9 64.6 61 '5 62.7 62.2 ^-Ratios in parthentheses are those obtained by adding Euro-dollars to the deposit base. 1/ Total loans (adjusted to exclude loans to banks) and total deposits (adjusted to exclude cash items in process of collection). If Beginning June 1969, total loans are reported gross of valuation reserves rather than net as previously reported. The higher loans 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. J e # # e e e Table 10 Money Stock Measures and Deposit Turnover (Seasonally adjusted; dollar amounts in billions) M i Currency plus demand - , deposits— M. 3M n plus deposits at nonM 2 M plus bank thrift time dep. institutions at comm. and credit other than union. 2/ 3/ large CD's-' shares e # e e # # e e # 4 Components of money stock measures and related items Currency Demand Deposits Time other than CD's CD's Total time Turnover NonU.S. Gov't. outside bank thrift ^/ deposits N.Y. City institution^""" (all member) (percent) 1973—Dec. 270.5 571.4 919.6 61.5 209.0 63.0 300.9 363.4 348.1 5.0 65.0 1974—Dec. 283.1 612.4 981.5 67.8 215.3 89.0 329.3 418.3 369.1 3.5 74.8 1975—-Dec. 294.8 664.3 1092.9 73.7 221.0 82.1 369.6 451.7 428.2 3.0 73.7 1976—July Aug. Sept. Oct. Nov. Dec. 305.0 306.5 306.9 310.4 310.4 312.4 705.2 710.4 716.3 725.9 732.3 740.3 1168.8 1180.8 1193.9 1210.7 1233.4 1237.1 78.1 78.6 79.2 79.8 80.2 80.5 226.9 227.9 227.7 230.6 230.2 231.9 68.9 65.0 63.1 62.3 62.2 63.3 400.1 403.9 409.4 415.5 422.8 427.9 469.0 468.9 472.5 477.8 484.2 491.1 463.6 . 470.5 477.6 484.8 491.0 496.8 2,7 3.9 3.6 3.4 4.0 3.2 79.5 82.1 82.2 80.0 80.3 83.7 1977—Jan. Feb. March April May June July Aug. Sept. Week Ending Sept. 7 14 21 28 313.8 314.0 315.4 320.5 320.7 321.9 326.8 328.3 330.4 746.3 750.7 756.1 764.6 767.6 772.8 783.5 787.7 793.0 1248.9 1258.2 1268.1 1281.2 1289.0 1299.5 1316.9 1329.3 1342.6 81.1 81.8 82.2 83.1 83.6 84.0 85.1 85.5 86.4 232.7 232.1 233.2 237.4 237.1 238.0 241.6 242.8 244.1 63.1 63.3 62.2 61.6 62.3 63.9 62.8 63.2 63.2 432.5 436.7 440.6 444.1 446.9 450.9 456.7 459.4 462.6 495.6 500.0 502.8 505.7 509.2 514.8 519.5 522.5 525.8 502.6 507.5 512.1 516.6 521.4 526.7 533.3 541.6 549.6 2.7 2.5 2.8 3.6 2.1 3.7 2.8 3.6 3.7 84.7 83.0 86.0 86.4 89.4 88.8 86.1 89.2 n.a. 329.7 331.7 330.6 329.5 791.5 794.1 7.93.2 792.6 n.a. n.a. n.a. n.a. 86.2 86.1 86.4 86.7 243.4 245.6 244.2 242.7 62.9 62.7 62.9 63.9 461.8 462.4 462.6 463.1 524.7 525.1 525.5 527.0 n.a. n.a. n.a. n.a. 3.7 2.4 5.5 3.0 n.a. n.a. n.a. n.a. _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. 2J Includes in addition to currency and demand deposits, savings deposits, time depos^ i.s open account, and time certificates of deposit other than negotiable time certificates of deposit issued in denominations 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, savings and loan shares, and credit union shares. http://fraser.stlouisfed.org/ 4/ Average of beginning and end of month deposits at mutual savings banks, savings anc loan shares, and credit union shares. * revised series. Federal Reserve Bank of St. Louis Table 11-A Liquid Asset Holdings of Private Domestic Nonfinancial Investors (Seasonally adjusted monthly averages; amounts in billions of dollars, ratios m U.S. shortterm marketable Period Total liquid assets 1970- -Dec. 1971- -Dec. 1972- -Dec. 1973- -Dec. 1974- -Dec. 1975- -Dec. 769.5 851.8 967.4 1079.2 1166.9 1290.4 632.4 718.9 817.0 887.5 945.2 1054.4 49.1 52.6 56.9 61.5 67.8 73.7 151.8 161.6 176.4 183.3 187.2 191.7 198.9 233.6 264.5 294.5 321.2 360.6 232.7 271.1 319.3 348.1 369.1 428.3 137.1 132.9 150.4 191.7 221.7 236.1 27.7 36.3 53.8 70.4 59.4 1976- -Aug. Sept Oct. Nov. Dec. 1376.7 1386.9 1402.8 1413.0 1423.7 1142.9 1155.1 1171.0 78.6 79.2 79.8 1194.2 80.5 198.0 197.4 199.8 198.3 198.8 395.9 401.0 406.5 412.7 418.1 470.5 477.6 484.8 491.0 496.8 233.8 231.8 231.8 230.8 229.5 46.1 44.6 44.0 43.4 44.2 1977- -Jan. Feb. Mar. Apr. May June July Aug. Sept. 1438.5 1453.6 1464.3 1478,6 1486.8 1498.5 1516.9 1531.1 1542.9 1207.6 1216.7 1226.0 1239.4 . 1246.3 1255.4 1272.3 1283.9 1294.8 81.1 81.8 82.2 200.9 200.1 200.9 205.5 204.5 204.4 207.6 207.6 423.0 427.2 430.8 434.2 436.8 440.4 446.3 449.2 452.6 502.6 507.5 512.1 516.6 521.4 230.9 236.9 238.3 239.2 240.5 243.0 244.6 247.2 248.1 43.6 44.2 43.3 42.5 NOTE: per cen ) Demand Total Currency deposits Commercial Thrift Negotiable CommerTreasury Savings banks institutions Total CD's cial paper securities Bonds 10 11 41.9 31.3 34.4 43.3 47.5 66.5 52.0 54.3 57.6 60.3 63.3 67.2 47.4 47.8 47.8 47.5 47.4 69.9 68.7 68.9 68.5 66.1 70.4 70.7 71.1 71.5 71.9 48.1 66.9 70.3" 70.3 70.0 69.2 68.3 69.7 71.8 72.7 72.3 72.6 73.0 73.4 73.8 74.2 74.7 75.1 75.3 _8 1182.2 80.2 83.1 83.6 84.0 85.1 85.5 86.4 206.2 526.6 533.3 541.6 549.6 For description of items, and computation of ratios, see Table 11-C. 21,8 42.8 44.5 43.7 44.2 44.3 21.4 19.6 22.2 34.3 40.5 43.0 49.7 51.7 53.3 54.7 56.1 56.6 56.1 55.8 e e e e e # e e # e e e e e i s e e e e TABLE 11-B Period Currency and demand deposits to liquid assets 12 Bank liability to liquid assets 13 Time deposits at thrifts institutions to liquid assets 14 Liquid assets to GNP 15 Currency and demand deposits to GNP 16 1972—Dec. 1973—Dec. 1974—Dec. 1975—Dec. 1976—Dec. 24.1 22.7 21.9 20.6 19.6 49.3 49.3 49.6 47.4 46.4 33.0 32.3 31.6 33.2 34.9 78.0 78.8 80.3 80.3 79.8 19.2 18.3 17.7 17.1 16.1 1977—Q1 Q2 1976—Sept. Oct. Nov. Dec. 19.3 19.2 19.9 19.9 19.7 19.6 46.1 46.0 46.4 46.4 46.3 46.4 35.0 35.1 34.4 34.6 34.8 34.9 80.2 79.6 n.a. n. a. n.a. n.a. 15.6 15.4 n.a. n.a. n.a. n.a. 1977—Jan. Feb. Mar. Apr. May June July August September 19.6 19.4 19.3 19.5 19.4 19.2 19.3 19.1 19.0 46.4 46.2 46.1 46.1 46.0 46.0 46.0 45.8 45.6 34.9 34.9 35,0 34.9 35.1 35.1 35.2 35.4 35.6 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. TABLE 11-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 held by domestic nonfinancial sectors. Deposits at nonbank thrift institutions and credit unions, as published in money stock statistics. 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. 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 quarterly GNP.
@FedFRASER