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BankM^nd Monetary Developments i n September I960
commercial bank credit increased #2.li b i l l i o n
'ise than i s usual for t h i s month. Holdings of
_x
,
showed a substantial cctitraseasonal expansion of
more than { I M p t , and loans increased $1 b i l l i o n , about the same as In
most otherog^Mt years. Tax period borrowing by businesses arid security
brokers ancf dealers was heavier than usual but substantial repayments
occurred at the month end.
i
During the third quarter of the year t o t a l loans and investments at
commercial banks increased flu 7 b i l l i o n , much more than i n any other recent
year. Holdings of U. S. Government s e c u r i t i e s , which usually increase only
s l i g h t l y or decline over t h i s period, rose f 3 . i b i l l i o n . Loan growth was
moderate and, in substantial part, in security loans Credit expansion at c i t y
banks was unusually large and mainly in holdings of U. S. Government
' "
securities; at nonweekly reporting banks, t o t a l loans and holdings of U. S.
Government s e c u r i t i e s both increased somewhat more than usual.
Business loans rose #600 million in September, s l i g h t l y more than
l a s t year and s l i g h t l y l e s s than in 1956 and 195>5* Business borrowing over
the f i r s t three weeks of September I960, covering the tax payment period, was
somewhat larger than in any other recent year but net repayments i n l a t e
September also were larger than usual. Corporate tax payments during
September were about the same as in September 1959, but there were no maturing
tax anticipation s e c u r i t i e s to apply against t h i s year's taxes as there were
a year ago. In spite of the large September r i s e , business loans at the end
of the quarter were s l i g h t l y below the mid-year l e v e l . In most other recent
years, these loans had shown substantial growth over the third quarter.
^
Loans to public u t i l i t i e s and metals manufacturers increased subs t a n t i a l l y over September accounting f o r almost half the t o t a l business loan
expansion at c i t y banks. Loans to trade concerns, which had been showing a
contraseasonal decline e a r l i e r in the third quarter, were somewhat larger
than usual i n September© Expansion in loans to food processors and
commodity dealers, however, continued to be smaller than in most other recent
years# Loans to most other business borrowers increased as i s usual in
September.
Loans to nonbank financial i n s t i t u t i o n s declined $100 million in
September as a usual midmonth r i s e associated with quarterly tax borrowing
^ h a n o f f s e t by prior and subsequent declines. These loans declined
SwOO million over the third quarter, probably reflecting in part substantial
capital market financing by finance companies.
Security loans increased $200 million in September, about twothirds of i t in loans t o U. S. Government s e c u r i t i e s dealers* These loans
increased much more than usual around the mid-September tax date, when
businesses were liquidating large amounts of s e c u r i t i e s , but they subsequently
?•. fh&rply* Over the July-September period, security loans increased
$500 million compared with r e l a t i v e l y substantial declines in most other
years.
Consumer loans increased only moderately further in September. So far
3ne®™t'» growth in these loans has been well below the sharp expansions of
l"59 and 1955* but roughly comparable with most other recent years* Real
estate loans showed l i t t l e further change at c i t y banks in September but
probably continued t o r i s e moderately at smaller banks. So far t h i s year,
growth in these loans has f a l l e n f a r short of that of most past years.
Deposit ratios. The ratio of t o t a l loans to t o t a l deposits at
a l l commercial banks declined s l i g h t l y in September to 56.3 per cent.
Ratios at c i t y banks, while down somewhat from e a r l i e r peaks, are
appreciably above year ago l e v e l s , while those at country and nonmember
banks remain close t o peak levels*
Deposits and currency. Seasonally adjusted demand deposit and
currency holdings of businesses and individuals declined $100 million in
September, a f t e r showing no change in August on the basis of revised data.
Since the May low, the money supply has risen H b i l l i o n , or at an annual
rate of about 2 per cent. At the month end i t was 1-1/2 per cent below the
yeaivago l e v e l .
Seasonally adjusted semimonthly averages of daily demand deposits
adjusted at member banks increased $560 million between the second half of
August and the second half of September. These deposits are now about $l.li
b i l l i o n above t h e i r early June low*
Se
Government deposits at commercial banks increased $2 b i l l i o n
between the l a s t Wednesday of August and the l a s t Wednesday of September, to
the exceptionally high l e v e l of more than $7-1/2 b i l l i o n . While these deposits
had increased moderately in September l a s t year, in a l l other recent years
they had declined.
Time deposits at a l l commercial banks increased substantially
further in September, $700 million on a seasonally adjusted b a s i s . Unusually
rapid expansion began in June and over the past four months, growth has been
at an annual rate of about 15 per cent. Growth in deposits at mutual savings
banks has been moderate and l i t t l e different from that of most other recent
years •
Deposit turnover*
The seasonally adjusted annual rate of demand
deposit turnover at banks outside New York and other f i n a n c i a l centers
declined from 26.6 in August t o 26.0 (preliminary) In September. This was
over 5 per cent above the September l e v e l l a s t year.
Bank reserves. Free reserves of a l l member banks averaged # 1 0
million in September, compared with $250 million in August. Borrowings
declined to an average #225 million and excess reserves rose t o $6W million.
A higher l e v e l of free reserves at country banks accounted f o r about half the
t o t a l increase in free reserves. Also net borrowed reserves declined somewhat at central reserve and reserve c i t y banks. Seasonally adjusted t o t a l
reserves rose substantially further in September. Growth during the third
quarter brought the seasonally adjusted l e v e l to somewhat above that in
December 1959.
E f f e c t i v e September 1# reserve c i t y and central reserve c i t y banks
were permitted to count vault cash i n excess of 1 per cent of t h e i r net demand
deposits rather than 2 per cent. This increased reserves at reserve c i t y banks
by an estimated $200 million and at central reserve c i t y banks by $10 million.
On a daily average basis over the month of September, cash allowed as reserves
increased $1*80 million. In addition to the ftmds made available on September 1
t h i s reflected the carry-over e f f e c t of $380 million of reserves released t o
country banks on August 25 through Board action. Also, on September 1, about
$125 million of reserves were released to central reserve c i t y banks when
reserve requirements against net demand deposits were reduced to 17-1/2 per
cent from 18 per cent. A $275 million increase in Reserve Bank f l o a t also
supplied reserves over September.
During September, reserves were absorbed by a $330 million reduction
in Federal Reserve holdings of U. S. Government s e c u r i t i e s , about one-third
of which were under repurchase agreements. An additional $200 million of funds
was drained through foreign operations. So f a r t h i s year, gold stock has
declined $610 million, with over three-quarters of the reduction occurring in
the third quarter. In the f i r s t nine months of 1959, gold stock had declined
$1,050 million. So far in I960, foreign deposits at the Reserve Banks have
declined about $150 million o f f s e t t i n g in part the e f f e c t of the gold outflow
on reserves. Last year, foreign deposits had increased somewhat. Required
reserves, exclusive of the change in reserve requirements, increased about
$90 million in September.
Banking Section,
Division of Research and S t a t i s t i c s ,
Board of Governors of the Federal Reserve System,
October lit, I960
- li Table 1
L.]u3
Estimated Changes In Loans and Investments at All Commercial Banks
8
(In b i l l i o n s of dollars)
—
Item
Total loans ( l e s s bank)
^Business (excluding nonbank finan™ c i a l or sales finance companies) 2 /
Nonbank financial
Sales finance companies
(Business (including nonbank financ i a l or sales finance companies))
^ t e a l estate
•Security
Agricultural
Consumer
All other 2 /
Government s e c u r i t i e s
I s Other securities
Total ( l e s s bank)
Item
Total loans ( l e s s bank)
Business (excluding nonbank finan. c i a l or sales finance companies) 2 /
•Nonbank financial
"*
Sales finance companies
(Business (including nonbank financ i a l or sales finance companies))
Real estate
^Security
Agricultural
Consumer
All other 2/
U, S. Government s e c u r i t i e s
%her securities
#
t
Last Wednesday of August to l a s t Wednesday o !* September
I960
1959
+ 1.0
+ 1.0
+ 0.6
- 0.1
n.a.
+ o.5
— 0.1
n.a.
— 0.1
+ 0.2.
- 0.1
(+ 0.2)
(+ o . U
(+ o.it)
(+ O.it)
(+ 0.6)
+ 0.1
H/
+ 0.1
* 0.2
>0.1
+ 0.2
+ 0.1
+ 0.2
- 0.1
19#
+ 0.5
J22L
+ 0.7
19%
+ 0.9
19#
+ 1.3
+ 0.5
n.a.
+ 0.2
+ 0.7
n.a.
+ 0.7
n. a.
+ 0.2
+ 0.1
n.a.
+ 0.1
+ 0.2
— 0.1
(+ 0.6)
+ 0.3
y
+ 0.1
+ EU2
+ 0.3
- 0.2
+ 0.1
+ 0.1
+ 1.1
- 1.1
- 1.2*
- 0.3
—0.2
- 0.5
+ 0.2
+ 0.2
+ O.it
+ 0.2
+ 0.2
1/
+ 2.It
+ 0.2
- O.it
+ 0.5
+ 0.9
+ 0.8
y
H,
+ 0.2
+ 0.2
Last Wednesday of August t o l a s t Wednesday of September
1951
1953
1952
1951
1950
1919
+ 0.9
+ 0.5
+ 0.9
+ 0.9
+ 1.7
+ 0.6
+ o.U
n.a.
- 0.1
+ 0.2
n.a.
+ 0.6
n.a.
+ 0.1
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
(+ 0.2)
+ 0.1
+ 0.1
1/
+ 0.1
- 0.1
(+ 0.7)
+ 0.1
- 0.2
(+ 0.6)
( n.a. )
n.a.
n.a.
n.a*
+ 0.2
n.a.
(+
+
+
+
+
0.3)
0.2
0.2
0.1
EL
y
+ 0.3
y
- O.it
y
+ n{i
+ 0.2
6
(+ i . i )
+ 0.2
+ 0.2
+ 0.1
+ 0.2
— OmU
+ 0.6
- 1.7
y
- 0.1
+ 0.2
+ 0.3
+ 0.2
H/
+ 1.2
+ 0.1
+ O.it
+ 0.7
.
. Total ( l e s s bank)
+ O.it
t 1-7
1 / Less than $50 million, n . a . Not available. 2 / Data are on revised basis
beginning June 1959 and exclude loans to nonbank financial i n s t i t u t i o n s . For
previous years, loans t o sales finance companies at weekly reporting banks have been
shown separately t o provide roughly comparable changes in business loans on revised
basis.
Not for publication
- 5 Table 1
L.l*#3
Estimated Changes i n Loans and Investments at All Commercial Banks
(In b i l l i o n s o f dollars)
Item
VPotal loans ( l e s s bank)
• Business (excluding nonbank financ i a l or sales finance companies) 2 /
Nonbank financial
Sales finance companies
(Business (including nonbank financ i a l or sales finance companies))
• Real estate
Security
Agricultural
Consumer
All other 2 /
00. S. Government s e c u r i t i e s
Other securities
Total ( l e s s bank)
Item
Bad of June t o l a s t Wednesday of September
I960 2 / 1 9 5 9 W
1958 j /
1957 3 /
1956
1955
* 0*9
+ 3.5
- 1.0
+ 0.2
+ 1.0
+ 2.7
- 0.2
- 0.4
n.a.
+ 0.9
+ 0.6
n.a.
+ 0.1
n.a.
- 0.2
- 0.1
n.a.
- 0.1
+ 1.1
n.a.
«• 0+2
+ 1.5
n.a.
+ 0.1
(+ 1.5)
+ 0.6
1/
+ 0.1
+ 0.7
+ 0.6
(— 0.1)
+ 0.6
- 1.7
+ 0.1
(+ 0.9)
+ 0.5
• O.i*
— 0*1
+ 0.2
> 0.1
(+ 1.6)
+ 0.8
— 0.3
- 0.5
+ 0.6
+ 0.1*
+ 3.5
- 1.7
+ 0.1
+ 0.1*
+ 0.1*
- 1.3
+ 0.3
+ 0.1
+ 0.6
+ 0.3
+ 0.1
+ 0.1
+ 1*.7
+ 2.1
- 0.3
* 0.8
+ 1.U
+ 1.6
+
+
+
+
+
0*6)
0.3
0.5
0.3
0.2
0.1
+ ¥.2
(+
+
+
0.2)
0.3
0.1
0.2
0.3
0.1
End of June to l a s t Wednesday of September
195U
1953
1932
1951
1950
19U9
Total loans ( l e s s bank)
— 0.1*
Business (excluding nonbank finan•
c i a l or sales finance companies) 2 / + 0.1
Nonbank financial
~~
n.a.
Sales finance companies
- 0.1
(Business (including nonbank financ i a l or sales finance companies)) ( 1 / )
+ 0.6
Real estate
• Security
+ 0.1
Agricultural
- 1.2
Consumer
All other 2j
+ ¥,2
+ 1.0
+ 1.1*
+ 0.8
+ 3.9
+ 0.6
+ 0.6
+ 0.8
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
(+ 0.5)
+ 0.3
+ 0.1
+ 0.2
+ 0.3
— 0.2
(+ 0.9)
+ 0.1*
— 0.6
+ 0.2
+ 0.1*
+ 0.1
(+ 0.8)
+ 0.2
(+ 2.5)
+ 0.7
- 0.2
- 0.1
+¥.i
+ 0.7
+ 0.1*
(n.a.)
n.a.
n.a.
n.a.
+ 0.3
n.a.
+ 3.8
+ 3.6
+ 0.1*
+ 1.2
- 3.1
+ 3*5
+ 0.5
+ 0.2
+ 0.3
+ 0.2
+ 2.2
+ 0.9
+ 0.7
^J. S. Government s e c u r i t i e s
Other securities
n.a.
- 0.1
n.a.
+ 0.1
— 0.3
+ 0.2
J
+ 3.9
+ 2.1
+ 1.6
Total ( l e s s bank)
+ 1*.6
1 / Less than $50 million, n.a* Not available. 2 / Data are on revised basis
beginning June 1959 and exclude loans to nonbank financial i n s t i t u t i o n s . For
•
previous years, loans t o sales finance companies at weekly reporting banks have been
shown separately t o provide roughly comparable changes in business loans on revised
b a s i s . 3 / Data are for l a s t Wednesday of June. V Total credit increased about
1300 million as a result of bank structure changesj loans increased about $200 million
and U. S. Government s e c u r i t i e s about $100 million.
^
Not
for publication
w
Lvlw3
6 -
Table 1
Estimated Changes i n Loans and Investments at All Commercial Banks
(In b i l l i o n s of dollars)
Item
End of December to l a s t Wednesday of September
1960
1959 5 /
1958
Total loans ( l e s s bank)
+ 8.8
+ 3.5
— 0.6
# Business (excluding nonbank financ i a l or sales finance companies) 2 / + 1.5 • + 2.7
— 0.8
Nonbank financial
- 0.it 3/+ 0.6
n.a.
Sales finance companies
n.a.
S/+ 0.3
- 1.0
(Business (including nonbank finan^ c i a l or sales finance companies))
(+ 1.1)
(+ 3.6) ( - 1.8)
# R e a l estate
+ 0.6
+ 2.2
+ 1.2
Security
- 0.6
— 0.6 - 0 . 5
Agricultural
+ 0.7
+ 0.1
+ 0.6
Consumer
+ 1.2
+ 2.2
• 0.1
All other 2 /
+ O.Zt
+ 1.3
+ 0.2
S. Government s e c u r i t i e s
Other securities
Total ( l e s s bank)
Item
1955
+ 2.6
+ 5.2
+ 7.1
+ 1.3
n.a.
+ 0.3
+ U.3
n.a.
- o.5
+ 2.9
n.a.
+ 0.7
(+ 1.6)
+ O.ii
— o*5
— o.l
+ i.i
+ 0.3
(+
+
+
+
3.8)
1.5
1.0
0.3
1.2
0.2
(+
+
+
+
3.6)
2.2
0.3
1.3
1.8
1.0
- 7.2
+ 6*5
- 2.7
- li.6
- 7.0
- 0.3
+ 0.1
+ 2.7
+ 0.8
- 0.1
+ 0.6
+ 1.9
+ 1.9
+ 8.6
+ 0.6
+ O.ii
+ 0.7
End of December to l a s t Wednesday of September
Total loans ( l e s s bank)
— 0.6
^ Business (excluding nonbank finan• c i a l or sales finance companies) 2 / - o.8
Nonbank financial
n.a.
Sales finance companies
- 0.3
(Business (including nonbank financ i a l or sales finance companies))
(- 1.1)
^ Real estate
+ 1.1
#Security
+ 0.2
Agricultural
- 1.1
Consumer
- 0.1
+ 0.3
All other 2 /
Other securities
1956
- 1.2
195k
S, Government s e c u r i t i e s
1957
1953
1952
1951
1950
1919
+ 1.9
+ 2.9
+ 3.3
+ 5.7
- 0.9
+ 0.1
n.a.
- 0.1
+ O.ii
n.a.
- 0.1
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
( V )
+ 0.8
- 0.3
(+0.3)
+ 0.8
- 0.1
+ 0.5
+ 1.2
+ 0.2
(+ 2.6)
+ 0.8
— 0.6
+ O.L
(+ 2.3)
+ 1.6
+ 9.3
+ 1.5
+ 0.6
(n.a.)
n.a.
n.a.
n.a.
+ 0.9
n # 3-e
+ 3.9
- 1.1
+ 0.1
- 2.3
- it.5
+ w
+ 1.3
+ O.ii
+ 1.0
+ 0.5
+ 1.9
+ 1.0
Total ( l e s s bank)
+ 1.1
t ^.6
+ 3.9
+ 3.2
+ 1.5
+ il.l
1 / Less than $%0 million, n . a . Not available. 2 / Data -are on revised basis
beginning June 1959 and exclude loans to nonbank financial i n s t i t u t i o n s . For
previous years, loans to sales finance companies at weekly reporting banks have been
shown separately t o provide roughly comparable changes in business loans on revised
b a s i s . 3 / July - September h j January - June
Total credit increased about | 1
b i l l i o n as a result of bank structure changes; $600 million in loansj $300 million in
U. S. Government securities; and $100 million in other s e c u r i t i e s .
Not
for publication
«
m»
L.U«3
*J
mm
Table 2
Changes In loans sad Investments at Weekly Reporting
1fenteer Banks and Monreporting Bank?
(in a d l l i o n s o f dollar^;
'
Last Wednesday of August to l a s t Wednesday of September
Item
I960
Weekly reporting banks
1959
1958
0.8
0.1*
0.2
l.ii
+ 0.7
- 1*1
+ 0.1
+ 0.5
- l.ii
+ 0.2
+ 0.7
2/
+ 0.3
1957
1956
1955
1/
Total loans
U. S. Government s e c u r i t i e s
Other s e c u r i t i e s
Total loans and Investments
+
+
+
+
+
+
+
O.ii
O.ii
0.1
0.1
+ 0.6
- 0.5
2/
+"5.1
+ 0.8
— 0.6
- 0.1
+ 0.1
+
+
+
+
0.3
0.1
0.1
O.ii
+
+
+
+
+
+
+
+
Nonreporting banks 1 /
Total loans
U, S. Government s e c u r i t i e s
Other s e c u r i t i e s
Total loans and investments
T-fX
0.3
0.3
0.2
o.8
o.5
0.1
0.1
0.7
Last Wednesday of August to l a s t Wednesday of September
Item
19Sh
Weekly reporting banks
+ §{l
To3
1/
+ O.ii
+ 0.5?
1953
1952
+ 0.3
— 0.3
- 0.1
+ 0.7
- 0.6
- 0.1
1951
1950
19ii9
1/
Total loans
U. S. Government s e c u r i t i e s
Other securities
Total loans and investments
+ 0.5
- O.ii
+ 0.2
~ w
+
+
+
+
0.6
0.3
0.1
0.9
+ 1.2
— 1*2
+ 0.2
+ 0.2
+
+
+
0.5
0.3
0.1
0.3
+ 0.2
+ 0.2
2/,
+ O.ii
+
+
+
+
0.3
0.3
0.1
0.8
+
+
+
+
+
+
+
0.1
0.3
0.1
o.ii
Nonreporting banks 1 /
Total loans
U. S. Government
Other securities
Total loans and investments
+
+
+
+
O.it
O.ii
0.1
0.9
+
+
+
0.2
0.1
0.1
0.2
0.5
0.5
0.1
0.2
1/
Beginning 1959# changes are on revised b a s i s . Changes may not correpsond exactly
with published data for weekly reporting banks because loans to foreign banks have
been excluded from t h i s tabulation.
2/
Less than $50 million.
Not
for publication
- 8 -
L.U.3
Table 2
Changes i n loans and Investments at Weekly Reporting
Iferiser Banks and Nonreportiag Banks
(Tn a H l i o n s oj1
End of June t o l a s t Wednesday of September
Item
I960
Weekly reporting banks
1959
1958
1957
1956
1955
+ 2.5
— l.li
- 1.2
- 0.1
- O.li
+ 0.1
— 0.1;
+ 0.6
- 0.5
+ 1.8
4
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
+
1/
Total loans
U. S. Government s e c u r i t i e s
Other s e c u r i t i e s
Total loans and investments
+ 0.3
TEX
*
Konrtgofting banks 1 /
Total loans
U, S. Government s e c u r i t i e s
Other securities
Total loans and investments
* 0.9
+ 1.0
+ 1.9
1.0
0.2
0.1
1.6
o.ij.
1.3
0.5
2.1
0.3
0.8
0,2
1.2
o.lt
0.9
0.1
1.3
0.9
o.k
0.1
1.6
End of June to l a s t Wednesday of September
Item
Weekly reporting banks
3/+
V+
3A
3/+
1951
1953
- o*5
+ 2.0
+ 0.3
T%3
+ 0.6
+ 2.5
+ 0.1
TTT
+
+
+
0.7
0.8
0.2
0.1
+ 0.6
2/
+ 0.1
+ 0.5
+
•
+
+
2.9
2.8
0.7
O
+
+
+
+
0.1
2.8
0.5
3.5
+
+
+
+
+
+
+
+
+
+
+
+
0.7
1.2
0.1
2.0
+
+
+
+
+
+
+
1.0
0.3
0.2
0.8
+
+
+
+
0.5
0.7
0.2
1.1
1952
1951
1950
1949
1/
Total loans
U. S. Government s e c u r i t i e s
Other securities
Total loans and investments
Nonreporting banks 1 /
Total loans
U. S. Government
Other s e c u r i t i e s
Total loans and investments
0.1
1.8
0.2
2.1
O.it
1.1
0.1
1.7
0.2
1.2
0.1
l.li
y Beginning 1959, changes are on revised b a s i s . Changes do not correspond exactly with
published data for weekly reporting banks because loans to foreign banks have been
excluded from t h i s tabulation.
2 / Less than $50 million.
3 / Total credit at nonreporting banks increased about $300 million as a result of bank
structure changes? loans increased about $200 million and U. S. Government securities
about $100 million.
Not
for publication
- 9 Table 2
L.U.3
Changes i n IiOans sad Investments at Weekly Reporting
Menfeer Baric* and Nonrepozting Banks
End of December to l a s t Wednesday of September
Item
Weekly reporting banks
1960
1959
1958
1957
1956
+ 0.7
+ 0.3
- 0.2
+ It. 8
- 6.5
- 0.1
- 2.2
+ 5.0
+ 1.6
+ 0.6
- 2.1
+ 3.3
— lt.0
• 0.&
+
+
-
U.5
6.7
0.1
2.0
+ 1.9
— 0*6
+ 0.3
+TT5
+
+
+
2.6
0.3
o.?
2.7
1955
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
m
Noar*##ting banks 1 /
Total loans
U. S. Government securities
Other securities
Total loans and investments
+
+
2.8
1.5
0.1
1.1
3/+ ii.O
iZ-0.7
f / + 0.2
Iznrr
+
+
+
+
1.6
1.5
14
£.2
+ 2.0
•* 0.6
+ 0.6
+ 2.0
End of December to l a s t Wednesday of September
Item
1951
1953
1952
1951
1950
19h9
Weekly reporting banks 1 /
Total loans
U. S. Government securities
Other securities
Total loans and investments
>
+
+
1.9
2.9
1.0
2.0
-1*3
+ 0.1
r r o
+ 1.1
— 0.6
+ 0.7
T T 3
+ 1.9
- 2*5
+ 0.2
+
+
+
+ 1.5
+ 0.2
+ 0.3
+ 1.8
+ 0.7
+ 0.3
+ 1.U
+ 0.2
+ 2.1
- 0.9
+ 0.5
+
+ o.k
3*6
3*6
1.1;
1.3
•
+
+
+
1*6
lt.O
0.9
3.S
Monreporting banks 1 /
Total loans
U. S. Government
Other securities
Total loans and investments
+ 1.3
+ 1.0
TTZ
7T3
m
+ 0.7
+ 0.1
+ b.i
+T)7F
1 / Beginning 1959, changes are on revised basis. Changes may not correspond exactly with
published data for weekly reporting banks because loans t o foreign banks have been
excluded from t h i s tabulation* Also, call report data f o r weekly reporting banks for
December 31, 1959, have been used*
2 / Less than $50 million.
3 / As a result of bank structure changes, t o t a l credit increased about $1 b i l l i o n ; &60.0
million in loans; $300 million in U. S. Government securities; and #100 million in
other s e c u r i t i e s .
Digitized
Notfor FRASER
for publication
L.U.3
-10
-
Table 3
Changes i n Commercial and Industrial Loans 1 /
(In millions of dollars)
~~
Last Wednesday in August to l a s t Wednesday in September
Business of Borrower
I960
Food processors
Commodity dealers
Trade concerns
Total
+
+
+
+
Sales finance
2/
All other - t o t a l
Metals and products
Textiles, apparel
and leather
Petroleum# coal e t c .
Other manufacturing
and mining
Public u t i l i t i e s
Construction
All other types of
business
UJT - ^
^
1
—
J
^
. .
t
4i A
V VA
A1/
AM
>
+ m
+ 33
+ 75
• 292
+
+
+
171*
17
62
519
1956
+
+
+
+
196
81
57
331*
- 109 + 181* - 107
1955 1951*3/ 19533/ 1952
+ 128 + 139 + 213
+ 113 + 107 + 73
+ 62 + 73 + k7
""363 T u r T 3 3 T
- 126
-
91* -
+ 176
+ 11*1*
+ 50
7-37O
59 + 11*1
337
+ 65
+ 209 + 2li9 + 27 + 31*8 + 231 - 28 - 11*1* + 128
- 97 + 10 - 43 + 16 + 5 - 121* - 11*8 + T
«• 26
+ 15
- 2k + 81* *
25 - 1*8 + 16 + 72 + 11* - 18 + 7
9 + 32 + 18
2k + 62 + 227 + 17 +
+ 21 + 110 + 20 + 27 + 38 + 60
7 + 18
15 + 5b
2 + 3
+ 11* + 26
+ 606 + 608 + I48O + 1*30 + 575 + 1*07 + 195 + 131 + 639
- 35> - 119 - 10 — 1*6 - 1*0 + 82 + 22 + 7 + 35
+ 571 + 1*89 + 1*70 + 381* + 535 + 1*89 + 217 + 138 + 671*
Total change excluding
sales finance
AM
256
93
1*6
395
1957
+
+ ia
Total change
/
+
+
+
+
1958
+ 1*2 - 25 +
6 + 3 + 20 + 20 + 11
+ 191 + 255 + 187 + 33 + 57 + 50 3 + 9
5 + 30
- 15 + 26 + 5 -
Classified
Unclassified
1
11*3
16
82
271
1959 y
^94
4A
+ 571 + 189
+
578 + 200
+ 61*2 + 615 + 311 + 197 + 533
T#
2/^ Not included in business loans on revised basis.
3 / In order to keep comparisons on a comparable four-week basis the following dates
were usedj *195?/ Sept. 2. - Sept. 30; 195%, Sept. 3-- Octi 1; 19$h, Sept. 1 - Sept. 29
1953# Sept. 2 - Sept. 30.
for publication
DigitizedHot
for FRASER
- 11-.
L.U.3
Table 3
Changes i n Commercial and Industrial Loans 1 /
(In millions of dollars)
~~
Sales finance
All other - t o t a l
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc*
Other manufacturing
and mining
Public u t i l i t i e s
Construction
All other types of
business
Classified
Unclassified
Total change
Total change excluding
sales finance
2/
3/
11/
~~
5/
~~
+ 111 + 270
+ 120 + 22k
+ h * 59
+ 553
+ m
1957
+
+
+
+
1#
i5k
77
386
-
15k 288
W
n
+ 131
- 68
- 355
- 12U
-
+ 88 + 13k
- 75 + 110
-
+ h29
V UL1C J Xcto u v
•
20
28
1956
ap uemuejr
1955
1953
195k
1952
+ 162 + 211 + 123 + i a + 219 + 320
+ 181 + 330 + 208 + 235 + 81 + 286
+ 122 + k< + 3
-15
+ k?
S +
+ 3 9 ? + 596 +1155 + bZk + 33*
+ 621
93 - 17k
— 286
- kid
+ 23
+
+ 112
- 11*2 -
53 + 73
+ 672 - 362 + 19 + 62
- 222 T"2OH
9
+ 93
1
Food processors
Commodity dealers
Trade concerns
Total
U nouuci3U«
I960 19593/ 1958
I
Business of Borrower
+ 181 + 96
38
3k + 3k5 + 55 -
+ 53 + 6k
+ 35 + 115
+ ' 66 + 6 + 23 + 155 + 66 2 + 13 + 31
+ 319 « • 59 - 3k + 81 + 93 » 10i|. + JU6 - 77
+ 60 + 15 - 11 + 63 + 37 +
+ 3k
9 + 22
+ 73
+ 66
+ 101
- 106
+ 196
~ 300
-
+1,116
9k
- 10h +1,02?
- lolt
+ 155 + 63 + 136
+ 223
+ 55 + 85 + 115
-
56 + 13 + 977 +1,237 - 79 + 300 + 75k
31 - Ik3 - 120 V- 78 ^-790 + 6 + 73
-
87
+ 888 + 67
- 130 + 857
-
37
V
+1,159 5^-869 + 306 + 827
V
y
+1,031 +I,0k7 - 727
+ 359 + 75k
Not included in business loans on revised basis.
Includes changes on unrevised basis for week of July 1 and revised basis thereafter.
Includes CCC c e r t i f i c a t e s of interest which are estimated to have declined #300
million.
Includes CCC c e r t i f i c a t e s of interest which are estimated to have declined $k75
million.
for publication
Digitized Not
for FRASER
- 12 -
L.U.3
Table 3
Changes i n Commercial and Industrial Loans 1 /
(In millions of dollars)
~~
Business of Borrower
Food processors
Commodity dealers
Trade concerns
Total
Sales finance
All other - t o t a l
Metals and products
Textiles# apparel
and leather
Petroleum, coal e t c .
Other manufacturing
and mining
Public u t i l i t i e s
Construction
All other types of
business
Classified
Unclassified
Total change
Total change excluding
sales finance
l a s t Wednesday in December t o l a s t Wednesday in September
I960 19(91/ 1958
— 1(17
- 557
13Z6
^59ff
- 189
- 131
+ 366
+~~E5
2/
T
563
129
81
UT
.12SL
12%.
- 293 - 358 + - 1*8 +
T7o3 +
1221
12SL
1952
190
91 - las - 361 - 1*03 - 51*8
56 - 2 52 - 128 - 551 - 31*8
226 + 268
79 TTJSf r - r o l
-1,007 + 273 - 1*95 + 701 - 317 - 11*3 -11*5
+1,772 +1,621 - 9k +1,718 +2*£L8 +2.196 m- m591 + 79
+ 721 - 256
+1,119
168" = W
w
+1,31*1
+ 361 + 31*7 + 6k + 171 + 331 + 1*01 + 152 + 201* 9
- 127 - 32 — 168 + 32a + 770 + 368 - 1*8 + 25 + 291
+ 1*27 + 266 + 161* + 237 +
+ 218 3 + 108 +107
+ 18 + 193 - 237 + U79 + 1*1*6 + 177 + 22 + 130 - 79
+ 130 + 105 + 116 + 3 + 1*3 + 197 + 108 + 27 + 1*0
+ 256
+
2h
+ 223
+ 285 + 367
+ 161
+ 77 + 87
+1,173 +2,121 -1,81k +1,148 +3,101 +2,493 -1,391 - 60 + 208
- 97 + 90 - 211 - 299 1 ^-256 Z-972 - 227 - 18
+1,076 +2,211 -2,025 +1,119 +3,100 +2,237 -2,365 - 287 + 190
+1,076 +1,759 -1,018 + 81(6 +3,595 +1,536 -2,01(8
- 11*1* + 335
l / Prior to week ending January 11, 1956, includes changes in agricultural loans.
2*/ Not included in business loans on revised basis.
3 / January - June.
2 / Revised basis a f t e r July 1.
5 / Includes CCC c e r t i f i c a t e s of interest which are estimated to have declined $820
million.
6 / Includes CCC c e r t i f i c a t e s of interest which are estimated to have declined $1*10
million.
Not
for publication
- 13 -
L.U.3
Table U
Estimated Changes in Deposits and Currency
(In b i l l i o n s of dollars)
Item
Seasonally adjusted data 1 /
Demand deposits adjusted
Currency outside banks
Total
Seasonally unadjusted data 1 /
Demand deposits adjusted
Currency outside banks
Total
Time deposits
Commercial banks
Mutual savings banks
U. S. Government deposits
Total
Factors affecting deposits
and currency
Bank loand and investments
other than U. S. Govt. s e c . 3 /
Commercial
*™
Mutual savings
Bank holdings of U. S.
Government securities:
Federal Reserve
Commercial
Mutual saving and other
Gold stock and foreign
deposits at F. R. Banks
Other factors
Last Wednesday of August to l a s t Wednesday of Sept.
I960
19#
2/
-0*2
- 0*1
"Ton
+ O.lt
+ 0.3
+ 0.8
+ 0.3
0.1
- 0.2
+ 0.2
+ 0.1
+ 0.5
+ 0.2
+ 3.0
+ 0.6
+ 1.2
+ 0.2
* 2.0
1958
0.2
&
- 0.1
1957
- 0.1
+ 0.1
- j r
+ o.ii
_i2.
*o3i
+ 0.6
0.5
"57T
+ 0.9
- 0.1
+ 0.8
+ Oelj.
+ o.U
+ 0.2
- O.ii
+™o3
- 0.3
+ 1.0
+ 0.2
+ 0.1
1956
+ 0.2
1955
+ 0.6
2/
+ 1.0
- 0.1
+ 0.9
+ 0.3
+ 0.1
+ 0.2
- 0.5
+ 0.6
(signs indicate e f f e c t on deposits and currency)
+ 1.1
+ 2.2
5 1.2
+ 0.1
+ 2.1
+ 1.2
+ O.ii
+ 1.0
+ 1.2
2/
- 1.1
TU7T
- l.l
- 0.1
- 0.2
— 0.3
+ 0.1
- 0.1
+ 0.3
V
• 0.9
+ 0.9
+ 0.9
- Ook
- l.li
- 0.5
"TTO
- 0.3
- 0.3
+ 0.5
+ §{l
- 0.1
+ 0.2
+ 0.2
£/
+ 1.1*
+ 1.1
+ 0.2
- 0.2
2/
+ 0,2
— 0*
- 0*
w
o»5
2/
+ 0.1
1/ Seasonally adjusted data are for l a s t Wednesday throughoutj unadjusted data are for
l a s t Wednesday except in case of June and December c a l l dates, when available.
2 / Less than $50 million.
3/ Total includes foreign loans on gold, holdings of bankers' acceptances at the
Federal Reserve, and loans to foreign banks; changes in these items are generally
relatively small. Even i f there were no changes in other items, changes at commercial banks exclude a l l interbank loans, domestic and foreign, while t o t a l loans
exclude only those t o domestic banks. In addition there i s some lack of
synchronization in reporting asset and l i a b i l i t y items used in computing "loans net".
for publication
DigitizedNot
for FRASER
L.U.3
- lit -
Table 1*
Estimated C
Changes in Deposits and Currency
(In Billions of dollars)
Item
Seasonally adjusted data 1 /
Demand deposits adjusted
Currency outside banks
Total
Seasonally unadjusted data 1 /
Demand deposits adjusted
Currency outside banks
Total
Time deposits
Commercial banks
Mutual savings banks
U. S. Government deposits
Total
Factors affecting deposits
and currency
Sank loans and investments
other than U. S. Govt, s e c . 3 /
—
Commercial
Mutual savings
Bank holdings of U. S.
Government securities:
Federal Reserve
Commercial
Mutual saving and other
Gold stock and foreign
deposits at F. R. Banks
Other factors
End of June to l a s t Wednesday of September
I960
+0.it
1959^
1958
1957
1956
1955
-0.2
+1.6
—0.8
+0.9
+1.6
—0.8
-0.2
-0.1
-0.3
+1.1
+2.1*
+0J.
+275
-0.1
+0.7
-0.9
+1.7
-0.2
"+13"
+0.6
+0.3
+0. it
-0.7
+1.3
•0.1
+0.1
-0.1
+1.5
+0.7
+0.2
+0.9
"+CuF
2/
"+T75"
+2.b
+2,0
*0,1*
+0,ii
-nnr
+0.1*
+0.3
+0.2
+1.7
+3.1
2/
+1.6
+1.1
+0.5
-5.2
-1.2
1L
2/
—0.1
+1.3
+1.1
+0.3
-0.7
"+o7T
—0.2
+0.7
+0.1*
+0.3
—0.1
•+8nr
+0.2
(signs indicate e f f e c t on deposits and currency)
+1.9
+1.2
*0.5
*hZ.
+0.6
-K
—0. it
+0.7
_±0JL
+0.5
+0.5
+1. li
+0.7
+2.8
+0.6
-1.1
-0.1
+0.6
+0.2
2/
-0.2
+0.4
-0.1
-1.2
"+57T"
-1.3
. 2/
-0.1
+3.6
+0.7
-1.7
-0.2
-0.1
+0.1
-0.5
-0.3
—0.6
-0.5
-1.2
+1,2
+b.9
+3.8
+0.7
-0.1*
2/
+0.1*
—0.1
+1.1
+0.1
-0.9
-1.1
-0/7
1 / Seasonally adjusted data are for l a s t Wednesday throughout} unadjusted data are for
l a s t Wednesday except in case of June and December c a l l dates, when available. Begin-,
ning in 1957, a l l June data are for the l a s t Wednesday of the month.
3 / Total includes foreign loans on gold, holdings of bankers' acceptances at the
Federal Reserve, and loans to foreign banks; changes in these items are generally
relatively small. Even i f there were no changes in other items, changes at commercial banks exclude a l l interbank loans, domestic and foreign, while t o t a l loans
exclude only those t o domestic banks. In addition there i s some lack of
synchronization i n reporting asset and l i a b i l i t y items used in computing "loans net".
2/ Less than $50 million.
I\J In August 1959, as a result of bank structure changes, demand deposits adjusted
increased about $200 million and time deposits at commercial banks about $200 million.
Not for publication
- 15 -
L.lt.3
Table 4
Estimated C
Changes i n Deposits and Currency
(In b i l l i o n s o f d o l l a r s )
Item
Sad of December to l a s t Wednesday of September
1960
Seasonally adjusted data 1 /
Demand deposits adjusted
Currency outside banks
Total
Seasonally unadjusted data 1 /
Demand deposits adjusted
Currency outside banks
Total
Time deposits
Commercial banks
Mutual savings banks
U. S. Government deposits
Total
Factors affecting deposits
and currency
Bank loans and investments
other than U. S. Govt# s e c . 3 /
Commercial
Mutual savings
Bank holdings of U. S.
Government s e c u r i t i e s :
Federal Reserve
Commercial
Mutual saving and other
Gold stock and foreign
deposits at F. R. Banks
Other factors
-1.7
2/
1959 4 /
+1.7
+0.3
"TT
+2.0
—6.1
-1.1
-4*1
-7.2
+4.2
+3.5
*0.9
+2 .It
-0.6
1958
+3.3
1L
+3.3
-2.2
1957
-—0.6
+0.4
-It. 5
-0.9
-5.4
+2.9
+1.7
+1.4
-5.9
—0.5
-4.3
+3.2
+2.5
+8.1
+6.6
+5.5
+lt.5
+2.2
+1.0
+0.3
3JL
-1.0
+1.6
"+57B"
ZL
+OJT
-0.lt
+0.8
+0.1
-0.2
-0.2
—2,6
1956
-6.il
+1.2
+1.6
-0.9
1955
+2.9
+0.3
+3.2
-1.7
-0.7
-2.3
+2. 4
+1.3
+1.4
1L
y
(signs indicate e f f e c t on deposits and currency)
+lt.6
"+J75"
+1.6
-1.7
-XJ7T
-1.2
-0.5
-0.6
-2.9
+10.2
+8.9
+1.5
-7.1
+0.3
-7.2
+4.1
+2.1
+2.3
+6,8
+0.6
+4.6
+3.4
+1.7
-4.8
-1.8
-0.2
+6.5
-0.3
-2.7
-0.3
-1.1
"1*0
-1.9
-3.2
+0.6
-1.4
+6.8
"+5X
+7.7
-6.2
-8.4
-0.3
-7.0
-0.2
+2.0
-1.2
-4.6
+0.3
-1.8
+1.8
-1.2
+0.1
-1.0
l / Seasonally adjusted data are for l a s t Wednesday throughout; unadjusted data are for
l a s t Wednesday except i n case of June and Decenfoer c a l l dates, wh6n available*
2/ Less than $50 million.
3 / Total includes foreign loans on gold, holdings of bankers' acceptances a t th6
Federal Reserve, and loans to foreign banks; changes in these items are generally
r e l a t i v e l y small. Even i f there were no changes in other items, changes at commercial banks exclude a l l interbank loans, domestic and foreign, while t o t a l loans
exclude only those t o domestic banks. In addition there i s •some lack of
synchronization i n reporting asset and l i a b i l i t y items used in computing "loans net".
k/
In January, A p r i l , and August 1959, a s a r e s u l t of bank s t r u c t u r e changes, demand
d e p o s i t s a d j u s t e d a t commercial banks i n c r e a s e d $400 m i l l i o n , time d e p o s i t s a t
commercial banks $700 m i l l i o n , and time d e p o s i t s a t mutual s a v i n g s banks d e c l i n e d
#300 m i l l i o n .
Not for publication
Table 5
Ratios to Total Deposits
1/
LOANS
Date
All commercial Total
banks
Member ban]ks
Central reserve c i t y Reserve
New York Chicago
city
v vuiivJTjr
U.s* Govt* securi t i e s maturing
within one year
All
commercial
banks
191*6:
191*7:
1918:
191*9:
1950:
1951:
1952:
1953:
195b
1955:
1956:
1957:
1958:
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
31
31
31
31
31
31
31
31
31
31
31
31
31
23*3
27*7
31.2
31.1
35.8
37*2
39.3
U0.5
1*0.3
1*5.8
1*8*8
U9.7
lt8.lt
23*7
28.2
31.3
30.9
36.1
37*6
39.9
1*1.1
1*0.7
1*6.7
50.1
51.0
1*9.1*
27.7
31.0
35.9
31**9
1*2.5
1*6*3
50*6
50*6
1*6.8
56.7
61*7
61*9
57*7
27.3
30.3
30.it
25*6
32*3
36.2
38.9
39.1
38.3
1*6.3
52.7
55.2
1*9.1*
26.0
31*1
33.1*
32.lt
38.1
39.1*
1*1.1
1*2.2
1*1.9
1*8.5
52.7
53.3
51.3
18.9
23.1*
27.1
28.5
31.5
32.1
33.9
36.1
37.1
1*0.7
1*2.6
1*1*. 1
1959:
Jan. 28
Feb. 25
Mar. 25
Apr. 29
May 27
June 2k
July 29
Aug. 26
Sept.30
Oct* 28
Nov. 25
Dec. 31
1*8.6
1*9.3
50.3
50.5
51.1*
52.5
52.6
53.3
53.1*
53.6
51*.l*
51*.0
1*9.5
50.3
51.3
51.5
52.1*
53.6
53.7
51*.5
51*. 7
51*. 9
55.8
55.6
57.7
58*2
58.7
59*0
60.0
62*2
62*6
65.5
65.3
66.6
69.5
67.3
1*8.3
1*8.7
51.9
50.5
51.8
51*.l*
55.6
57.2
56.6
56.2
58.2
51.5
52.7
53.8
53.8
55.1
56.1
56.5
57.1
57.6
57.5
58.1*
58.2
1*1*. 5
1*5.2
1*6.0
1*6.It
1*7.0
1*7.9
1*7.7
1*7.9
1*7.9
1*8.0
U8.lt
lt8.2
7*9
6*8
5.5
5.7
6.7
6*0
6.5
5.9
5.7
5.9
6*1
6*7
Jan. 27
Feb. 2k
Mar. 30
Apr. 27
Ifey 25 r
June 29
July 27p
Aug. 31pr
Sept.28p
51*. 1*
55.6
56.1*
56.2
56.8
57.1
56.2
56.6
56.3
55.9
57.1
58.0
57.7
58.3
58.5
57.5
58.0
57.6
67.1*
69.1*
69.1*
67.6
68*0
67.1*
66.9
67.7
66.0
58.2
62.7
6JU.5
62.0
63.8
63*2
61*7
61*1
61.lt
58.7
60.U
61.lt
61.1
61.7
61.9
60.5
61.0
60.6
lt8.8
lt9.lt
50.3
50.6
51.1*
51.7
51.1
51.6
51.5
6*6
5*5
It .6
lt*9
l*.l*
l*.l
5.2
5.1*
n.a*
I960:
51*.0
!*!*•!*
2 / 11*. 3
V 11*.0
|/11*.2
1/19.2
1 / 15.2
9.8
11.7
16*9
10*0
5.1
7.5
8.it
8*3
n.a* Not availabJ-e.
2 / Total loans (adjusted to exclude loans t o banks); U. S. Government s e c u r i t i e s maturing
~~ within one year estimated on basis of Treasury survey of ownership; and t o t a l deposits
(adjusted to exclude cash items in process of c o l l e c t i o n ) .
2 / Prior to 1951, data are on c a l l basis and beginning in 1951* they are on maturity b a s i s .
On a c a l l basis# data f o r 1951 and 1952 are 21*5 and 19*1 respectively.
Not for publication
- 17 Table 6
Free Reserves and Total Reserves Held
(based on averages of d a i l y figures; i n millions of d o l l a r s )
Date
Total reserves"
Free reserves
held
seasonally
(excess reserves minus borrowings)
ijust
adjusted
u r
Central reserve c i t y Reserve
"nr
member Hew Xork~ Chicago
c i t y Country
member
Monthly averages:'
1958:
Dec.
-
1*1
-
80
-
1959:
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
- 59
» it?
- 11*0
- 258
- 318
- 513
- 557
-535
- 1*93
- 1*59
- 1*35
- 1*25
-
65
28
- 53
- 26
- 122
- 61*
- ill
- 63
- 17
- 35
- hk
82
- 62
- lOh
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sept.
-
1960s
360361
219
195
33
1*1
120
2l*7
1*13
-
16
89
51
15
151
225
227
210
- 18k
- 109
-
88
5b
l
31
1*5
16
-
-
3
27
2
32
- 90
- 126
- 152
- 100
-
1*9
59
39
38
5
- 197
268
18,602
-
223
195
228
281*
360
535
182
281
18,706
19h
18,615
-
391
338
369
1*1*9
-
1*39
381
252
25U
173
- 1*20
- 120
- 128
- 62
- a
202
18,71*6
18,661*
178
133
101
12l*
115
169
171
18,636
18,1*33
18,559
18,595
18,61*9
180
237
18,677
18,671
257
197
18,691
182
190
IB
20b
290
375
1*61*
IB,666
18,360
18,228
18,101*
18,276
18,275
18,389
18,1*61*
1 / 18,71*7
Weekly averages:
Aug. 31
Sept. 7
U*
21
28
Oct. 5
366
396
522
1*39
291*
397
17
13
22
1
15
20
It
5
Hi
1*
16
7
*
99
1*3
72
27
- 112
2
1*78
1*21
627
1*08
1*38
371
n.a#
n.a.
n.a*
n.a*
n.a.
n.a*
Note; Data f o r l a t e September and October are preliminary*
1 / Data have been adjusted t o exclude e f f e c t of reduction in reserve requirements
at central reserve c i t i e s on September 1#
L.U.3
- 18 —
Table 7
Changes In Member Bank Reserves, with Relevant Factors
(Monthly average of dally figures; In millions of dollars)
September
1960
1959
Item
Member bank reserves
Required r e s e r v e s 1 /
E f f e c t of change i n
requirements
Effect of deposit change
Excess reserves 1 /
Total reserves held 1 /
Cash allowed as reserves 1 /
Reserve balances
~*
Total reserves held, seasonally
adjusted 2 /
Principal factors
Currency in circulation
Gold stock and foreign
accounts
Treasury operations
Federal Reserve f l o a t
Other factors
Effect of above
factors on reserves
-
33
+
+
+
T
-
125
92
98
65
#
143
+ 283
-
60
-196
- Ik
+ 27lt
- 27
-
July - September
January-Septeniber
I960
1959
1960
1959
U2
• 100
• 139
- 522
- 199
+
h2
-
62
20
- 125
• 225
+ 172
+ 139
+ 3
+ llt2
+
-
125
39?
156
366
- 199
- 107
- 306
20
- 303
+ 1U2
- 930
- 306
+ 76
+ 216
+ it 72
51
'signs indicate e f f e c t on reserves)
+ U7
-
26
- 225
- 203
+ 623
+ 351
- 123
+ h
+ 197
- 52
- 1*68
+ lit
2
+ 3U
- 5W
+ 185
+ 79
- 5b
+
+
467
67
255
188
1,088
+ 272
- U08
z_m
- 6h7
- 529
+ 156
- 990
20
+ 3U2
+ 671
a,088
+ 683
+ 86
+ 528
+ GZB
+ 100
+ 711
+ 679
+ 32
-
23
Federal Reserve loans and
investments:
Total
U. S. Govt, securities
Outright
Repurchase agreements
Acceptances
Discounts and advances:
To member banks
To others
- 392
- 109
2
- 68
+ 8
—m
+
-
6
2
-105
+ 1
+
5
-
6
- 200
-
18
16
+
8
r w
+ 63
- 27
— 681
+ 3
1 / Preliminary for September I960.
2 / Data for September I960 have been adjusted to exclude e f f e c t of reduction in
~~ reserve requirements on Septentoer 1.
Not for publication
+ 362
TT3Z
- 5d
-
19
+ 3 h6
-
6
kL.4.3
End of
month
1950
1951
1952
1953
195U
1955
1956
1957
1958
1959
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec,
1960
Jan.
Feb.
Mar.
Apr.
May
June
July
...AuSr,
- 19
Table 8
Liquid Assets Held by the Public — Seasonally Adjusted Series
(Amounts in billions of dollars; ratios expressed as percentages)
Demand
Personal-type savings
U. S. Govt
deposits Total
Total adjusted personal- Time deposits
Savings u. s . securities
liquid
type
Govt,
and
adjusted l /
maturing
and
assets currency savings Commer- Mutual
savings
within
one
loan
(2+5+8)
outside (4+5+6+7) c i a l
savings
shares bonds year
banks banks 2/
banks l /
V
V
8
271.8
28%.0
296.2
308.3
318.0
330.3
339.9
351.7
369.7
llit.6
120.2
12U.1
126.6
130.0
133.5
13U.5
133.6
138.8
129,0
132.7
litO
lit 8
158
l66.it
171.1
132.8
196.7
36.3
37.8
it0„6
it3»6
16,8
18.5
50.7
56.it
63.it
23.0
23.6
25.2
26.7
28.5
30.0
32.0
37.0
ill. 7
ii7.7
330.ii
383.8
385.8
387.0
387.8
387.8
388.2
338.it
lit0.6
lit0.9
liil.2
litO.9
Ht0.8
litO.lt
litO.l
litO.2
200.3
200.9
201.3
202.1
202.8
202.9
203.7
20it.l
61t.6
6U.8
61.9
65.2
50.it
65.6
65.5
65.9
65.9
35is
35.6
35.6
35.7
35.8
35.7
35.8
35.9
389.2
389.1
390.3
390.it
386.7
383.6
388.7
390.2
UtO.O
139.1
139.5
139.it
137.5
138.0
138.6
138.6
20iul
204.5
205.2
205.7
206.5
207.6
209.1
210.9
65.7
65.7
65.9
35.8
35.8
36.0
66.1
66.8
67.5
36.1
For footnotes
66.0
68.6
see reverse side of sheet.
31.6
33.0
35.1
36.1
36.1
36. h
36,it
lit.O
16.1
19.2
22.8
Commercial
bank demand
and time deposits adj.
and currency
(2 + 4)
Ratios
Commercial
bank deposits
+ currency to
total liquid
assets
(9 + 1)
10
55.7
55.2
55.6
55.5
55.6
55.9
5U.8
51.7
5o.5
28.2
31.1
31.5
33.1
29.9
30.ii
31.3
35.3
3k.2
150.9
158.0
161.7
170.2
176.8
182.0
185.2
190.0
202.2
55.5
55.6
55.6
55.2
55-6
55.1
5U.5
5it.o
51.7
51.5
52.1
52.6
53.2
53.7
54.3
it9^8
U9.5
U9»3
U9.1
it8.8
18.5
18.3
ii8.0
39.5
it2.0
13.3
iiit.O
Ut.2
itit.5
iiit.U
itit.i
205.2
205.7
206.1
206.1
206.it
205.9
206.0
206.1
53.9
53.6
53.1
53.3
53.2
53.1
53.1
53.1
51.9
55.1
55.9
56.it
57.1
57.6
53.2
59.0
lt7.7
17.6
ii7.lt
U7.2
it7.2
it7.1
U7.0
ii6.9
U5.1
U5.5
115.6
15.3
it2.7
h3.0
ii.1.0
110.7
205.7
52.9
205.it
205.it
203.6
20lt.8
206.1
207.2
52.6
52.6
52.7
52.7
53.0
JM.
27.2
51.0
20b.8
52.6
p
1/
~~
2/
3/
h/
~
5/
6/
Preliminary.
Data f o r demand and time deposits adjusted and currency outside banks are as of l a s t Wednesday of month,
except that time deposits are as of June 30 and December 31 when c a l l data for these dates were available.
Includes savings deposits i n the Postal Savings System.
Prior to 1955 data are Board estimates based on monthly figures of inflow of new savings and withdrawals
of savings capital compiled by the Federal Home Loan Bank Board.
Includes a l l types of savings bonds held by investors other than banks and U. S. Government agencies and
trust funds.
Includes
marketable securities maturing within one year (adjusted to include p a r t i a l l y tax exempt
securities 12 months prior to f i r s t c a l l date) and, prior to 1956, nonmarketable Treasury savings notes
with maturities up to 2h months; figures include holdings of insurance companies, brokers and dealers,
State and l o c a l governments, nonbank corporations, corporate pension funds, nonprofit i n s t i t u t i o n s ,
foreign accounts, and individuals.
Gross national product estimates are available quarterly and annually only. For 1950-58 ratios are f o r
l a s t quarter of year5 for 1959 and I960, for each quarter of year. Data for t o t a l liquid assets used in
computing these ratios are quarterly average for four dates: each month of the current quarter and the
l a s t month of the preceding quarter.
L.U.3
Year
or
month
Table 9
- 20 Deposits and Currency
(In b i l l i o n s of d o l l a r s )
(3)
(5)
(6)
(7)
(U)
(10)
(11)
(12)
(8)
(91
ii)
[21
Seasonally adjusted
Seasonally i
Time deposits
Total
money supply 1 /
adjusted
U. S.
deposits
Curmoney
Demand
Govt,
rency
and
Demand Cursupply
and
deposits
Total deposits rency
Total
Commer- Mutual Postal deposits outside currency
(2+3) adjusted outside time dep. adjusted (7+8+9) c i a l
savings savings
banks (5+6+10
2/
at connh.
banks
+11)
banks(1+7)
End of Decs
130.0
195U
1955
133.5
1956
13U.5
1957
133.6
138.8
1958
1959$
June 2k
1U0.9
July 29
lltl.2
Aug. 26 2 / 1U0.9
Sept. 30
11*0.8
Oct. 28
1U0.U
Nov. 25
1U0.1
Dec. 31 k/ Ht0.2
1960S
Jan. 27
lUo.o
Feb. 21*
139.1
Mar. 30
139.5
Apr. 27 r l 3 9 . l t
May 25 r
137.5
June 29 r
138.0
July 27 r
138.6
Aug. 31 r
138.6Sept. 28 p 138.5
103.1
106.1
107.1
105.8
110.7
26.9
27.li
27.lt
27.8
28.1
176.8
181.9
185.1
189.7
202.0
106.6
109.9
111.a
110.3
115.5
75.3
78.lt
82.2
89.1
98.3
U6.8
U8.U
50.6
56.1
63.2
26.3
28.1
30.0
31.7
3U.0
2.1
1.9
li6
1.3
1.1
5.1
lt.lt
It.5
It.7
U.9
27.9
28.3
28.3
28.3
28.7
21U.8
221.0
226.lt
232.3
2U7.5
112.6
112.9
112.6
112.lt
112.0
111.8
112.0
28.3
28.3
28.3
28.lt
28.U
28.3
28.2
206.3
206.5
206.lt
206.5
205.9
20U.8
206.1
110.7
112.7
111.1
lll.lt
112.7
113.1
U5.lt
100.1
U00.8
101.2
101.5
101.1
100.3
101.8
65.lt
65.3
65.5
65.7
65.5
6U.7
65.9
3U.6
3U.5
3U.7
31.8
3U.6
3L.6
3U.9
1.1
1.0
1.0
1.0
1.0
1.0
f
0.9
5.2
5.6
6.5
7.1
6.0
5.1
5.8
28.3
28.lt
28.5
28.5
28.3
29.1
29.lt
2U5.U
2U7.6
2lt7.lt
2U8.5
2lt8.2
2I4.7 06
252.lt
lt.lt
5.3
5.2
5.3
7.7
7.8
7.0
6.2
8.2
27.9
28.0
28.1
27.9
28.1
28.3
28.lt
28.5
28.3
2U7.3
2ltlt.9
2ltlt.2
2lt7.0
2U6.1
2U7.7
2lt9.6
218.8
251.8
*
111.7
110.8
111.1
111.2
109.3
109.9
110.3
110.3
110.3
28.3
28.3
28. it
28.2
28.2
28.1
28.3
28.3
28.2
205.2
20U.5
205.5
.'205.6
20lj..0
205. U
206.5
207.5
207.9
lllt.O
110.5
108.8
111.5
107.7
107.8
110.1
108.9
109.3
101.0
101.2
102.2
102.3
102.6
103.6
10lt.2
105.3
106.0
65.2
65.U
66.0
66.2
66.5
67.lt
67.9
68.9
69.lt
3U.9
3U.9
35.3
35.2
35.2
35.lt
35.5
35.6
35.8
0.9
0.9
0.9
0.9
0.9
0.8
0.8
0.8
0.8
r Revised.
P
of the month. 2 / At commercial, savings, and Federal Reserve Banks. 3/ As a. r e s u l t of inclusionsof a l l banks i n
Hawaii, demand deposits adjusted increased about $200 m i l l i o n and time deposits at commercial banks about $200
m i l l i o n . On balance i n 1959* as a result of structure changes, demand deposits adjusted increased $U00 m i l l i o n , time
deposits at commercial banks increased $700 m i l l i o n , and time deposits at mutual savings banks declined $300 m i l l i o n .
h/ Demand deposits were reduced about $U00 million as a r e s u l t of a technical change under Regulation D amending the
d e f i n i t i o n of such deposits.
Not
f o r publication
L.U,3
. Table 10
Loans and I n v e s t m e n t s a t A l l Commercial Banks
(In b i l l i o n s of d o l l a r s )
Date
195U:
Dec. 31
1956:
1957:
1958:
Dec. 31
D e c . 31
Dec. 31
1959:
June 2U ( o l d )
June 2U (new)
J u l y 29
Aug. 2 6 1/
S e p t . 30
O c t . 28
Nov. 25
Dec. 31
19$$'. Dec. 31
I960:
J a n . 27
F e b . 2h
Mar. 30
Apr. 27 r
May 25 r
June 29 r
J u l y 27 r
Aug. 3 1 r
S e p t . 28 p
Loans
and
investments
155.7
160:3
16U.5
169.3
I8I1.L
18U.2
I81i.2
185.7
186.1
186.3
186.7
186.1
189.5
185.6
18U.3
I83.li
186.2
185.9
186.7
188.6
189.0
1 9 1 .U
U. S .
Govt, Other T o t a l
secur- loans
securities
ities
69.0
16.3
70.U
82.0
61.6
16.7
16.3
58.6
89.7
58.2
17.9
93.2
20.6
66. U
97.5
60.9
60.9
61.1
60.3
59.2
59.6
58.5
58.9
58.0
56.2
5U.2
55.8
55.1
5U.2
56.7
56.6
57.7
Business
Real Securestate ity
Fam
- 21 -
Consumer
26.9
33.2
38.7
Uo.5
liO.lt
I8.li
20.8
22.5
23.1
25.3
U.5
5.0
U.3
U.2
U.7
5.2
U.5
U.2
U.l
5.0
10.9
13.2
lU.6
15.8
15.9
20.5
102.8
102.8
103.9
105.3
106.3
106.5
107.3
110.0
1*2.5
37.8
37.8
38.2
38.7
38.8
39.It
I1O.2
26.9
26.9
27.1
27.3
27.5
27.7
27.9
28.1
li.l
U.l
U.2
ll.2
U.I
u.l
u.l
U.9
5.0
5.0
5.1
5.1
5.1
5.o
U.9
5.o
17.U
17.U
17.6
17.9
18.1
18.3
18.3
18.5
20.3
20.1
20.1
20.0
19.8
19.9
20.0
20.0
20.2
-107 .U
108.1
109.1
110.ii
110.9
112.6
111.9
112.5
113.5
39.li
39.8
I1O.9
28.1
28.2
28.2
28.3
28.3
28. U
28.5
28.6
28.7
U.o
3.9
3.5
3.9
3.7
3.8
3.8
U.l
U.3
U.9
5.0
5.1
5.2
5.3
5.U
5.5
5.6
5.7
18.6
18.6
18.6
19.0
19.2
19.5
19.5
19.6
19.7
20.6
20.6
20.6
20.5
20.7
20.6
20.3
I1O.9
111.3
Ul.9
lil.l
lil.l
111.7
Nonbank
financial All
i n s t i t u - other
tions
———
5.6
6.5
———
6.9
— —
7.2
8.2
7.1
8.9
7.7
7.8
8.0
8.3
8.5
8.5
8.5
6.3
6.U
6.6
6.8
6.7
7.1
7.0
6.8
6.7
8.U
8.5
8.U
8.6
13.7
8.8
8.7
8.9
8.9
mm mm mm
5.9
6.2
6.6
6.5
6.0
6.2
p P r e l i m i n a r y , r R e v i s e d on b a s i s o f June 1 5 ca] L. 1 / T o t a l c r e d i t :Increased aboul $300 m i l : Lion a s
a r e s u l t o f bank s t r u c t u r e c h a n g e s . S t r u c t u r e changes i n 1959 > on b a l a n c e through A u g u s t , added a l m o s t
$ 1 b i l l i o n t o t o t a l c r e d i t ; $600 m i l l i o n i n l o a n s j $ 3 0 0 m i l l i o n i n U. S . Government s e c u r i t i e s j and $ 1 0 0
m i l l i o n i n o t h e r s e c u r i t i e s . R e a l e s t a t e l o a n s i n c r e a s e d about $300 m i l l i o n ; b u s i n e s s l o a n s $ 1 0 0 m i l l i o n j
consumer l o a n s , $ 1 0 0 m i l l i o i t j and o t h e r l o a n s $ 1 0 0 m i l l i o n . N o t e : Data e x c l u d e i n t e r b a n k l o a n s . T o t a l
l o a n s a r e a f t e r and t y p e s o f l o a n s b e f o r e d e d u c t i o n s f o r v a l u a t i o n r e s e r v e s . Consumer and " o t h e r l o a n s "
a r e p a r t l y e s t i m a t e d f o r a l l d a t e s . Other d a t a a r e p a r t l y e s t i m a t e d on a l l b u t June and December c a l l
d a t e s . B e g i n n i n g June 2U, 1 9 5 9 , " b u s i n e s s l o a n s " and " a l l o t h e r l o a n s " have b e e n r e v i s e d t o e x c l u d e l o a n s
t o noribank f i n a n c i a l i n s t i t u t i o n s .
Not f o r p u b l i c a t i o n
BANKING AM) MOMETAEY DEVELOPMENTS IH OCTOBER I 9 6 0
Bank c r e d i t . T o t a l commercial bank c r e d i t I n c r e a s e d $ 2 . 5 b i l l i o n
In O c t o b e r , somewhat more t h a n i n m o s t o t h e r r e c e n t y e a r s , T h i s was
a c c o u n t e d f o r by a $ 2 . 8 b i l l i o n e x p a n s i o n i n h o l d i n g s o f U . S . Government
s e c u r i t i e s . Large bank a c q u i s i t i o n s were made a t t h e t i m e o f t h e T r e a s u r y
f i n a n c i n g i n l a t e O c t o b e r 1 / f o l l o w i n g o n l y moderate s a l e s e a r l i e r i n t h e
month. H o l d i n g s o f o t h e r s e c u r i t i e s c o n t i n u e d t o I n c r e a s e . T o t a l l o a n s
d e c l i n e d i n O c t o b e r l a r g e l y due t o r e d u c t i o n s i n l o a n s t o f i n a n c e c o m p a n i e s .
S i n c e J u n e , t o t a l l o a n s and I n v e s t m e n t s a t c o m m e r c i a l banks h a v e
i n c r e a s e d b y $ 7 . 2 b i l l i o n , s l i g h t l y more t h a n i n t h e same months o f 1954
and much more t h a n I n a n y o t h e r p o s t w a r y e a r . A n e a r - r e c o r d i n c r e a s e o f
$ 6 . 3 b i l l i o n In h o l d i n g s o f U . S . Government s e c u r i t i e s l a r g e l y r e f l e c t e d
s u b s t a n t i a l bank a c q u i s i t i o n s o f new s e c u r i t i e s a t t h e t i m e o f t h e T r e a s u r y
f i n a n c i n g s i n J u l y and O c t o b e r and a c o n t r a - s e a s o n a l r i s e i n S e p t e m b e r .
Holdings of o t h e r s e c u r i t i e s increased s t e a d i l y over t h e p e r i o d l a r g e l y a t
c i t y b a n k s . Loans r o s e o n l y s l i g h t l y b e t w e e n June and O c t o b e r a s r e d u c t i o n s
i n l o a n s t o f i n a n c e companies and t o b u s i n e s s e s o f f s e t i n l a r g e p a r t moderate
Increases in a l l other loan c a t e g o r i e s .
C r e d i t growth a t b o t h w e e k l y r e p o r t i n g banks and n o n r e p o r t i n g banks
was s u b s t a n t i a l i n O c t o b e r . S i n c e J u n e , t o t a l l o a n s and I n v e s t m e n t s h a v e
expanded a t a n e a r - r e c o r d r a t e a t c i t y banks and r a p i d l y a t o t h e r b a n k s ; i n t h e
p a s t t w o months a l o n e , c r e d i t growth a t n o n r e p o r t i n g banks h a s b e e n l a r g e r
t h a n i n t h e comparable p e r i o d o f a n y o t h e r y e a r . H o l d i n g s o f U . S . Government s e c u r i t i e s h a v e I n c r e a s e d s h a r p l y a t b o t h w e e k l y r e p o r t i n g and n o n r e p o r t i n g b a n k s . Loans h a v e d e c l i n e d a t c i t y banks I n c o n t r a s t w i t h s u b s t a n t i a l growth i n many o t h e r r e c e n t y e a r s b u t a t banks o u t s i d e l e a d i n g
c i t i e s , l o a n growth h a s b e e n r e l a t i v e l y s t r o n g .
B u s i n e s s l o a n s d e c l i n e d $100 m i l l i o n i n October whereas g e n e r a l l y
s u c h l o a n s r i s e i n t h i s month. B u s i n e s s b o r r o w i n g d u r i n g t h e September t a x
payment p e r i o d had b e e n l a r g e r t h a n u s u a l b u t s u b s e q u e n t r e p a y m e n t s a l s o
exceeded t h o s e of o t h e r y e a r s . Since June, b u s i n e s s l o a n s have d e c l i n e d
$ 3 0 0 m i l l i o n compared w i t h s u b s t a n t i a l growth i n m o s t o t h e r r e c e n t y e a r s .
D u r i n g O c t o b e r , s e a s o n a l b o r r o w i n g by f o o d p r o c e s s o r s and comm o d i t y d e a l e r s , w h i c h had b e e n r u n n i n g somewhat l e s s t h a n u s u a l i n o t h e r
r e c e n t months, e x c e e d e d t h a t o f most o t h e r r e c e n t y e a r s . Loans t o t r a d e
c o n c e r n s r o s e somewhat l e s s t h a n u s u a l . T h e s e i n c r e a s e s were more t h a n
o f f s e t by s u b s t a n t i a l r e p a y m e n t s i n most o t h e r i n d u s t r i e s . M e t a l s manuf a c t u r e r s and p u b l i c u t i l i t i e s , w h i c h had a c c o u n t e d f o r a b o u t h a l f t h e
b u s i n e s s l o a n e x p a n s i o n i n S e p t e m b e r , r e d u c e d t h e i r l o a n s s h a r p l y and by
1 / On O c t o b e r 1 7 , c o m m e r c i a l banks were a l l o t t e d a n e s t i m a t e d $ 7 0 0
m i l l i o n of the $ 1 . 5 b i l l i o n one-year Treasury b i l l i s s u e o f f e r e d f o r cash
o r i n e x c h a n g e f o r t h e $ 2 b i l l i o n T r e a s u r y b i l l s m a t u r i n g on t h a t d a t e ;
commercial banks h e l d a n e s t i m a t e d $ 5 0 0 m i l l i o n o f t h e m a t u r i n g i s s u e .
On O c t o b e r 2 1 , c o m m e r c i a l banks were a l l o t t e d p r a c t i c a l l y t h e e n t i r e $ 3 . 5
b i l l i o n i s s u e o f t a x a n t i c i p a t i o n b i l l s m a t u r i n g June 2 2 , 1 9 6 1 .
Hot f o r p u b l i c a t i o n
c o n s i d e r a b l y more t h a n t h e t a x - p e r i o d r i s e . A l s o , r e d u c t i o n s i n b o r r o w i n g
b y t e x t i l e m a n u f a c t u r e r s were l a r g e r t h a n u s u a l . S i n c e m i d y e a r , b o r r o w i n g
by f o o d p r o c e s s o r s , commodity d e a l e r s , and t r a d e c o n c e r n s h a s b e e n l e s s
t h a n u s u a l . Loan repayments by m e t a l s p r o c e s s o r s h a v e b e e n o f r e c o r d
v o l u m e . Repayments b y p u b l i c u t i l i t i e s , t e x t i l e m a n u f a c t u r e r s , and
petroleum producers have e i t h e r been g e n e r a l l y l a r g e r than u s u a l or have
c o n t r a s t e d w i t h n e t new b o r r o w i n g i n o t h e r y e a r s .
Loans t o nonbank f i n a n c i a l i n s t i t u t i o n s d e c l i n e d $ $ 0 0 m i l l i o n i n
O c t o b e r . T h e s e l o a n s had a l s o i n c r e a s e d , a s u s u a l , d u r i n g t h e September
t a x payment p e r i o d . S i n c e J u n e , t h e y h a v e dropped $ 9 0 0 m i l l i o n , much more
t h a n i n any o t h e r y e a r ; r e f l e c t i n g i n p a r t s u b s t a n t i a l c a p i t a l market and
s h o r t - t e r m open market f i n a n c i n g by f i n a n c e c o m p a n i e s .
S e c u r i t y l o a n s d e c l i n e d somewhat i n O c t o b e r f o l l o w i n g a t a x - p e r i o d
r i s e i n S e p t e m b e r . S i n c e J u n e , s e c u r i t y l o a n s h a v e shown c o n t r a - s e a s o n a l
expansion.
R e a l e s t a t e and consumer l o a n s i n c r e a s e d m o d e r a t e l y f u r t h e r i n
O c t o b e r . Growth In t h e s e l o a n s s i n c e m i d y e a r h a s f a l l e n w e l l b e l o w t h a t
o f most o t h e r r e c e n t y e a r s .
D e p o s i t r a t i o s . The r a t i o o f t o t a l l o a n s t o t o t a l d e p o s i t s a t
a l l commercial banks d e c l i n e d f u r t h e r i n O c t o b e r t o 5 5 . 3 p e r c e n t . B a t i o s
a t a l l c l a s s e s o f banks a r e b e l o w p e a k l e v e l s r e a c h e d e a r l i e r i n t h e y e a r
b u t a r e somewhat a b o v e y e a r - a g o l e v e l s e x c e p t a t c e n t r a l r e s e r v e c i t y "hnnfra
i n Hew Y o r k .
P e p o s i t s and c u r r e n c y . The s e m i m o n t h l y a v e r a g e money s u p p l y (new
s e r i e s ) i n c r e a s e d $ 7 0 0 m i l l i o n on a s e a s o n a l l y a d j u s t e d b a s i s b e t w e e n t h e
s e c o n d h a l f o f September and t h e s e c o n d h a l f o f O c t o b e r . S i n c e t h e m i d y e a r
l o w , t h e s e a s o n a l l y a d j u s t e d money s u p p l y h a s i n c r e a s e d $ 1 . 8 b i l l i o n , o r a t
a n a n n u a l r a t e o f a b o u t 4 p e r c e n t . A t t h e end o f O c t o b e r , i t was $ 1 b i l l i o n
or l e s s t h a n 1 p e r c e n t below t h e l a t e October 1 9 5 9 l e v e l ; a f t e r adjustment
f o r t e c h n i c a l r e p o r t i n g c h a n g e s i n December 1 9 5 9 , h o w e v e r , t h i s d i f f e r e n t i a l
i s o n l y $ 6 0 0 m i l l i o n . The e n d - o f - m o n t h s e r i e s shows a l a r g e r r i s e i n
O c t o b e r and f r o m t h e low f o r t h e y e a r r e a c h e d i n May.
U . . S . Government d e p o s i t s a t a l l commercial banks d e c l i n e d $ 1 . 5
b i l l i o n b e t w e e n September 2 8 and O c t o b e r 2 6 a s h e a v y w i t h d r a w a l s e a r l y and
l a t e i n t h e month more t h a n o f f s e t payments f o r new T r e a s u r y i s s u e s on
O c t o b e r 2 1 . The m o n t h ' s d e c l i n e was l a r g e r t h a n h a s o c c u r r e d i n O c t o b e r
o f most o t h e r r e c e n t y e a r s . On a s e m i m o n t h l y a v e r a g e , U. S . Government
d e p o s i t s a t member banks d e c l i n e d $ 1 b i l l i o n , a l s o more t h a n u s u a l .
Time d e p o s i t s a t a l l c o m m e r c i a l banks i n c r e a s e d $ 7 0 0 m i l l i o n
f u r t h e r on a s e a s o n a l l y a d j u s t e d b a s i s i n O c t o b e r . The $ 3 . 9 b i l l i o n
s e a s o n a l l y a d j u s t e d e x p a n s i o n i n t h e s e d e p o s i t s o v e r t h e p a s t f i v e months
h a s s u b s t a n t i a l l y e x c e e d e d t h a t o f t h e comparable p e r i o d o f any o t h e r p o s t war y e a r and r e p r e s e n t s a n a n n u a l growth r a t e o f a l m o s t 15 p e r c e n t .
D e p o s i t s a t m u t u a l s a v i n g s banks h a v e c o n t i n u e d t o i n c r e a s e m o d e r a t e l y
over t h e p a s t few months.
Wot f o r p u b l i c a t i o n
L'.U.3
- 3 -
D e p o s i t t u r n o v e r . The s e a s o n a l l y a d j u s t e d a n n u a l r a t e o f demand
d e p o s i t t u r n o v e r a t banks o u t s i d e New York and o t h e r f i n a n c i a l c e n t e r s
d e c l i n e d f u r t h e r f r o m 2 6 . 0 i n September t o 2 5 . 5 ( p r e l i m i n a r y ) i n O c t o b e r .
T h i s was a b o u t 3 p e r c e n t above t h e O c t o b e r l e v e l l a s t y e a r .
Bank r e s e r v e s . Member bank r e s e r v e p o s i t i o n s e a s e d f u r t h e r i n
O c t o b e r and f r e e r e s e r v e s r o s e t o $48$ m i l l i o n compared w i t h $415 m i l l i o n
i n S e p t e m b e r . F r e e r e s e r v e s r o s e a t c o u n t r y b a n k s , and a t c e n t r a l r e s e r v e
and r e s e r v e c i t y banks n e t borrowed r e s e r v e s d e c l i n e d t o n o m i n a l l e v e l s or
s h i f t e d t o a s m a l l f r e e r e s e r v e s v o l u m e . F r e e r e s e r v e s a t a l l member banks
were t e m p o r a r i l y a t a l e v e l o f a l m o s t $ 8 0 0 m i l l i o n i n m i d - O c t o b e r when a
l a r g e r - t h a n - e x p e c t e d i n c r e a s e i n f l o a t s u p p l i e d f u n d s . They d e c l i n e d i n
t h e l a t t e r p a r t o f t h e month and i n e a r l y November t o $ 4 0 0 m i l l i o n when
r e d u c t i o n s i n f l o a t , i n c r e a s e s i n r e q u i r e d r e s e r v e s , and a h e a v y g o l d o u t f l o w were o f f s e t o n l y i n p a r t by open market p u r c h a s e s and o t h e r f a c t o r s .
E x c e s s r e s e r v e s a t a l l member banks remained a b o u t unchanged i n O c t o b e r a t
an average l e v e l of $635 m i l l i o n w h i l e borrowings d e c l i n e d t o $150 m i l l i o n .
S e a s o n a l l y a d j u s t e d t o t a l r e s e r v e s a t a l l member banks r o s e somewhat f u r t h e r i n O c t o b e r , and i n b o t h September and O c t o b e r , were above
l e v e l s i n t h e comparable months o f 1959• E a r l i e r i n i 9 6 0 , t h e y g e n e r a l l y
had b e e n s u b s t a n t i a l l y b e l o w y e a r - a g o l e v e l s .
D u r i n g O c t o b e r , on a monthly a v e r a g e b a s i s , r e s e r v e s were s u p p l i e d
p r i n c i p a l l y t h r o u g h a n i n c r e a s e i n S y s t e m h o l d i n g s o f U . S . Government
s e c u r i t i e s of $400 m i l l i o n , r e f l e c t i n g almost e n t i r e l y o u t r i g h t p u r c h a s e s .
B e s e r v e s were a b s o r b e d m a i n l y by a n a c c e l e r a t e d g o l d o u t f l o w o f $ 3 0 0 m i l l i o n .
S i n c e J u n e , c h a n g e s i n g o l d s t o c k and i n f o r e i g n d e p o s i t s a t t h e E e s e r v e
Banks have d r a i n e d $775 m i l l i o n o f r e s e r v e s compared w i t h $ 5 6 0 m i l l i o n i n
t h e same p e r i o d l a s t y e a r ; s i n c e J a n u a r y , t h i s y e a r ' s d r a i n amounts t o $775
m i l l i o n compared w i t h $ 1 . 1 b i l l i o n i n t h e comparable months o f 1 9 5 9 . R e q u i r e d
r e s e r v e s increased $160 m i l l i o n during October; t h i s did not f u l l y r e f l e c t ,
however, the sharp i n c r e a s e a s s o c i a t e d w i t h t h e Treasury f i n a n c i n g which
had a c a r r y - o v e r e f f e c t i n t o November.
Banking S e c t i o n ,
D i v i s i o n o f R e s e a r c h and S t a t i s t i c s ,
Board o f Governors o f t h e F e d e r a l R e s e r v e S y s t e m .
November 1 6 , i 9 6 0 .
•» 1| •
tieU»3
Table 1
E s t i m a t e d Changes i n Loans and I n v e s t m e n t s a t A l l Commercial Banks
IIn b i l l i o n s of d o l l a r s )
Item
tfotal
loans ( l 6 a s interbank)
B u s i n e a s ( e x c l u d i n g nonbank f i n a n c i a l or s a l e s f i n a n c e c o m p a n i e s ) z j
Nonbank f i n a n c i a l
S a l e s , f inance companies
( B u s i n e s s ( i n c l u d i n g nonbank f i n a n •
c i a l i o r s a l e s finance companies))
9
Real e s t a t e
Security
Agricultural
Consumer
A l l other 2 /
% / S . Government s e c u r i t i e s
Other s e c u r i t i e s
Total ( l e s s interbank)
£.
S . Government s e c u r i t i e s
Other s e c u r i t i e s
1959
- 0.5
4
1958
1957
1956
1955
0.2
+ 0.8
- 0.6
+ 0.4
4 0.9
- 0.1
+ 0.1
4 0.3
- 0.2
- 0.5
n.a.
- 0.5
n.a.
- 0.1
n.a.
- 0.4
4 0.5
n.a.
- 0.3
I / 4 0.8
n.a.
(-•' 0 . 6 )
(- 0.4)
(+ 0.2)
4 0.1
- 0.1
1/
+ 0.2
1/
- 0.1
XI
o
+ 0.4
- 0.1
+ 0*1
(- 0.6)
1/
- 0.1
+ 0.2
- 0.2
(+ 0.2) l/(+0.6)
+ 0.1
4 0.1
- 0.2
4 0.1
1/
l / - 0.1
4 0.2
4 0.1
4 0.2
+ 0.1
1/
4 0.2
4 0.2
+ 0.2
+ 2.8
+ 0.4
+ 1.5
4 1.4
4 0.5
4 0.9
+ 0.2
- 0.1
- 0.1
4 0.5
- 0.3
- 0.1
4 2.5
+ 0.4
+ 2.2
+ 0.7
4 1.7
1/
1/
- 0.1
L a s t Wednesday o f S e n t , t o l a s t Wednesday o f O c t .
1954
1953
1952
1951
1950
1949
4 0.2
4 0.4
4 1.3
41.1
4 0.1
4 0.2
n.a.
- 0.1
4 0.2
4 0.7
n.a.
n.a.
n.a.
n.a.
H«8 «
n.a.
n.a.
n.a.
H CVJ
Total loans ( l e s s interbank)
• B u s i n e s s ( e x c l u d i n g nonbank f i n a n • c i a l or s a l e s f i n a n c e companies) 2 /
Nonbank f i n a n c i a l
S a l e s f inance companies
( B u s i n e s s ( i n c l u d i n g nonbank f i n a n c i a l or s a l e s f i n a n c e c o m p a n i e s ) )
•Real estate
•Security
Agricultural
Consumer
' v: •
A l l other 2 /
;
I960
vo
O
+
Item
L a s t Wednesday o f S e p t . t o l a s t Wednesday of Oct
XleQ 0
- 0.2
( 1/)
4 0.1
- 0.1
4 o.4
V
4 0.1
ZI08 0
1/
(4-0.7)
4 0.1
4 0.1
4 0.2
4 0.3
(4 0 . 5 )
4 0.1
- 0.1
4 0.1
1/
4 0.1
41.2
4 2.9
4 0.1
4 1.3
4 0.1
1/
- 0.1
- 0.2
1/
EI080
(4 0 . 6 )
4 0.2
- 0.1
4.0.1
4 0.1
4 0.2
(n.a.)
n.a *
n.a.
n.a.
4 0.2
n.a.
4 0.9
a
1/
- 0.1
Total ( l e s s interbank)
4 0.6
4 3.2
4 2.4
41.0
41.7
4 1.0
1/ L e s s t h a n $$0 m i l l i o n ! n . a . N l .
|
b e g i n n i n g June 1 9 5 9 and e x c l u d e l o a n s t o nonbank f i n a n c i a l i n s t i t u t i o n s .
For
p r e v i o u s y e a r s , l o a n s t o s a l e s f i n a n c e companies a t w e e k l y r e p o r t i n g b a n k s have b e e n
shown s e p a r a t e l y t o p r o v i d e r o u g h l y comparable changes i n b u s i n e s s l o a n s on r e v i s e d
b a s i s . 2 / * n October 1955 > t h e l e v e l o f b u s i n e s s l o a n s was i n c r e a s e d b y , and t h a t o f
r e a l e s t a t e l o a n s d e c r e a s e d b y , $300 m i l l i o n t o c o r r e c t c l a s s i f i c a t i o n e r r o r s .
T h e r e f o r e a d j u s t e d changes a r e 4O.5 f o r b u s i n e s s l o a n s e x c l u d i n g s a l e s f i n a n c e ,
^ " for4O.3
f o r b u s i n e s s l o a n s i n c l u d i n g s a l e s f i n a n c e and 4 0 . 2 f o r r e a l e s t a t e l o a n s .
Digitized
FRASER
http://fraser.stlouisfed.org/
Hot f o r p u b l i c a t i o n
Federal Reserve Bank of St. Louis
L.lu3
Table 1
Estimated Changes i n Loans and Investments at All Commercial Banks
(In b i l l i o n s of dollars)
—
End o f June t o l a s t Wednesday o f O c t o b e r
Item
JTotal l o a n s ( l e s s i n t e r b a n k )
^ B u s i n e s s ( e x c l u d i n g nonbank f i n a n c i a l or s a l e s f i n a n c e companies) 2 /
Nonbank f i n a n c i a l
S a l e s f i n a n c e companies
(Bus i n e s s ( i n c l u d i n g nonbank f i n a n c i a l or s a l e s f i n a n c e c o m p a n i e s ) )
^ R e a l estate
Security
Agricultural
Consumer
A l l other 2 /
# .
S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l ( l e s s Interbank)
t
Item
Total loans ( l e s s interbank)
B u s i n e s s ( e x c l u d i n g nonbank f i n a n f
c i a l or s a l e s f i n a n c e c o m p a n i e s ) 2 /
Nonbank f i n a n c i a l
S a l e s f i n a n c e companies
( B u s i n e s s ( i n c l u d i n g nonbank f i n a n c i a l or s a l e s f i n a n c e companies))
Real e s t a t e
^Security .
Agricultural
Consumer
A l l other 2 /
S . Government s e c u r i t i e s
I
Other s e c u r i t i e s
3/ 1959i/y
1958 1/
1957 3 /
1956
1955
+ 3.6
+ 0.4
+ 3.7
- 0.2
- 0.4
.+ 1 . 4
- 0.3
- 0.9
n.a.
+ 1.0
+ 0.1
+ 0.3
n.a.
- 0.3
+ 1.6 I h 2 d
n.a.
- 0.2
- 0.5
(-1.2)
(+ 1.1)
(+ 0.1)
+ 1.0
- 1.8
+ 0.2
1/ ,
(- 0.8)
+
+
+
+
0.4
0.4
0.3
0.4
+ 0.8
i!
+ 0.9
+ 0.1
+ 0.8
+ 6.3
n.a.
+ 0.3
- 0.2
1/
+ 0.3
n.a.
- 0.5
(+
+
+
-
n.a.
- 0.1
1.1) 2 / U 2 - 2 )
0 . 6 2 A 0.7
- 0.1
0.3
- 0.4
0.3
+ 0.8
0.3
0.1
+ 0.3
+ 0.4
+ 0.1
- 1.3
+ 1.6
+ 1.8
+ 0.9
- 0.4
+ 0.5
1/
+ 0.5
• 0.8
- 0.2
1/
+ 7.2
+ 2.5
+ 1.9
+ 2.2
+ 2.1
+ 3.3
End o f June t o l a s t Wednesday o f O c t o b e r
1954
1953
1952
1951
1950
1949
- 0.2
+ 1.4
+ 2.7
+ 1.4
+ 5.0
+ 0.7
+ 0.4
+ 0.8
+ 1.5
n.a.
+ 0.1
n.a 0
n.a.
Q«8>«
n.a.
n.a.
n.a.
n.a.
n.a.
n.a.
(+3.1)
+ 0.8
+ 0.6
((n.a.)
n.a.
n.a.
n.a.
+ 0.5
n.a.
n.a.
- 0.3
- 0.3
(+ 0 . 1 )
+ 0.8
(4.0.5)
+ 0.4
+ 0.1
- 1.2
1/
+ 0.2
1/
+ 0.6
+ 0.3
- 0.1
+ 6.7
+ 3.7
+ 1.7
+ 2.4
- 3.3
+ 4.4
+ 0.6
+ 0.2
+ 0.2
+ 0.2
+ 0.8
+ 0.6
0
(+
+
+
+
1.6)
0.5
0.5
0.4
0.7
1/
(+
+
+
1.3)
0.3
0.5
0.3
1/
+ 0.2
+ 0.9
- 0.3
1/
Total ( l e s s interbank)
+ 5.4
+ 7.1
+ 2.6
+ 5.6
t 3>9
t *.,5
1 / Less than #$0 m i l l i o n ,
n . a . Not a v a i l a b l e .
2 / Data a r e on r e v i s e d b a s i s
I
b e g i n n i n g June 1 9 5 9 and e x c l u d e l o a n s t o nonbank f i n a n c i a l i n s t i t u t i o n s .
For
I
p r e v i o u s y e a r s , l o a n s t o s a l e s f i n a n c e companies a t w e e k l y r e p o r t i n g b a n k s have b e e n
shown s e p a r a t e l y t o p r o v i d e r o u g h l y comparable c h a n g e s i n b u s i n e s s l o a n s on r e v i s e d
b a s i s . \ f Data a r e f o r l a a t Wednesday 6 f J u n e . 4 / T o t a l c r e d i t i n c r e a s e d a b o u t $ 3 0 0
m i l l i o n a s a r e s u l t o f bank s t r u c t u r e c h a n g e s \ l o a n s i n c r e a s e d a b o u t $ 2 0 0 m i l l i o n and
U. S . G o v ' t , s e c u r i t i e s a b o u t $ 1 0 0 m i l l i o n . 5 / I& O c t . 1955> t h e l e v e l o f b u s i n e s s
.
l o a n s v a s i n c r e a s e d b y , and t h a t o f r e a l e s t a t e l o a n s d e c r e a s e d b y , $ 3 0 0 m i l l i o n t o
|
correct c l a s s i f i c a t i o n errors.
http://fraser.stlouisfed.org/
Not
f
o
r pBank
u b of
l i St.
c a Louis
tion
Federal Reserve
a*
L.U.3
Table 1
E s t i m a t e d C h a n g e s i n Logins and I n v e s t m e n t s a t A H Commercial B a n k s
(In b i l l i o n s of d o l l a r s )
—
Item
#
o t a l loans ( l e s s interbank)
B u s i n e s s ( e x c l u d i n g nonbank f i n a n c i a l or s a l e s f i n a n c e companies) 2 /
Nonbank f i n a n c i a l
S a l e s f i n a n c e companies
( B u s i n e s s ( i n c l u d i n g nonbank f i n a n c i a l or s a l e s f i n a n c e companies))
Real e s t a t e
SecurityAgricultural
Consumer
A l l other 2 /
#
f
So Government s e c u r i t i e s
Other s e c u r i t i e s
Total ( l e s s interbank)
Item
Total loans ( l e s s interbank)
B u s i n e s s ( e x c l u d i n g nonbank f i n a n 0 c i a l or s a l e s f i n a n c e companies) 2 /
Nonbank f i n a n c i a l
S a l e s f i n a n c e companies
( B u s i n e s s ( i n c l u d i n g nonbank f i n a n c i a l or s a l e s f i n a n c e companies))
Real estate
^Security
Agricultural
Consumer
A l l other 2 /
S . Government s e c u r i t i e s
I
Other s e c u r i t i e s
End o f December t o l a s t Wednesday o f O c t o b e r
I960
1958
1957
1956
1955
+ 9.0
+ 0.2
+ 2.0
+ 5.6
+ 8.0
+ 1.4
+ 2.8
- 0.9
- 0.5
4/+ 0 . 1
I/+ 0.3
+ 1.1
n.a.
+ 4.8
n.a.
6/+ 3.7
n.a.
+ 0.5
+ 3.0
n.a.
(+ 0 . 5 )
+ 0.7
{+ 3 . 2 )
+ 2.4
+ 1.5
+ OA
+ 2.4
+ 1.5
+ 1.6
- 6.8
- 0.6
+ 0.5
- 0.6
1/
XI0S1 O
- 1.1
(+
+
-
1.6)
1.6
0.6
0.7
0.1
- 0.1
(+ 1 . 0 )
+ 0.4
0.6
0.2
1.1
0.3
- 0.8
(+ 4 . 0 ) 6 / ( + 4 . 2 )
+
+
+
1.6
0.9
0.5
1.3
0.2
/+ 2.1
- 0.1
+ 0.4
+
+
+ 8.0
- 1.3
- 4.1
- 6.1
- 0.4
+ 0.5
- 0.1
1/
+ 2.6
+ 1.3
+ 4.4
+ 2.1
+19,8
+
2.9
—
—
- 1.2
+ 2.0
+ 0.9
t
End o f December t o l a s t Wednesday o f O c t o b e r
.1221
1952
1951
- 0.4
+ 2.3
+ 4.2
+ 3.9
f 6.8
- 0.8
- 0.6
+ 0.3
+ 1.1
n.a.
- 0.4
n.a.
- 0.3
n.a.
n;a.
n»a»
31oS«
n.a.
n.a.
n.a.
(n.a.))
n.a.
n.a.
n.a.
+ 0.9
n.a.
(- 1.0)
Xl o Sl a
~ Oo 1
(+ 1.0)
j m .
1949
+ 0.3
+ 1.5
+ 0.1
+ 0.7
+ 1.5
+ Oftl
+ 0.5
—/
+ 0.4
2.9)
1.8
0.1
0.2
+ 1.6
+ 0.8
+ 6.8
- 1.0
+ 1.4
- 1.1
- 4.5
+ 5.0
+ 1.4
+ 0.4
+ 0.9
+ 0.5
+1.9
+ 0.9
+ 1.3
+ 0.2
- 1.1
- 0.1
(
1/
)
+ 0.9
- 0.4
+ 0.4
+ 0„9
1/
(+ 3 . 1 )
+ 0.9
- 0.8
(+
+
Total ( l a s s interbank)
+ 1.7
+ 4.2
+
+ ^.2
t 6,1
444TLj L e s s t h b n
million,
n . a . Not a v a i l a b l e .
2 / D a t a a r e on r e v i s e d b a s i s
b e g i n n i n g June 195>9 and e x c l u d e l o a n s t o nonbank f i n a n c i a l i n s t i t u t i o n s .
For
p r e v i o u s y e a r s , l o a n s t o s a l e s f i n a n c e companies a t w e e k l y r e p o r t i n g banks have b e e n
shown s e p a r a t e l y t o p r o v i d e r o u g h l y c o m p a r a b l e c h a n g e s i n b u s i n e s s l o a n s on r e v i s e d
basis.
3 / T o t a l c r e d i t i n c r e a s e d a b o u t $ 1 b i l l i o n a s a r e s u l t o f bank s t r u c t u r e
c h a n g e s ;~"$600 m i l l i o n i n l o a n s ; $ 3 0 0 m i l l i o n i n U . S . G o v ' t , s e c u r i t i e s ; and $ 1 0 0
million in other s e c u r i t i e s .
4 / July-Oct. 2 / Jan.-June.
6 / In Oct. 1955, the l e v e l
o f b u s i n e s s l o a n s was i n c r e a s e d b y , and t h a t o f r e a l e s t a t e l o a n s d e c r e a s e d b y , $ 3 0 0
m i l l i o n t o c o r r e c t c l a s s i f i c a t i o n e r r o r s . Most o f t h e m i s c l a s s i f i c a t i o n p r o b a b l y
http://fraser.stlouisfed.org/
o c c uBank
r r e of
d St.
d uLouis
r i n g 1 9 5 5 . S o , n o a d j u s t e d c h a n g e s h a v e b e e n computed f o r t h e y e a r t o d a t e .
Federal Reserve
Table 2
L.U.3
Changes i n loans and I n v e s t m e n t s at W e e k l y R e p o r t i n g
Menber Bazdcs and N o n r e p o r t i n g Bankg _ _ _ _ _
(in Billions of dollars;
L a s t Wednesday o f September t o l a s t Wednesday o f O c t o b e r
Item
Weekly r e p o r t i n g b a n k s
I960
1959
1958
1957
1956
1955
• 0*6
• 1*8
— 0*1
• 0.3
«" 0 * 7
+ 0.1
- 0*2
IL
0^
• 0.3
- 0*1
• 0.6
• 0.6
- 0.1
+ 0.1
4A0.3
» 0*1
5 A O.I
1/
Total loans
Ue S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
rrnr
+ 0.1
• 0.2
-0.1
2/
Nor!r»Boitting banks 1 /
Total loans
U, S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
3 A 0*3
+ 0.1
• o*5
+ 1.3
+ 0*7
t t v ?
t x I
- 0.1
+ 0*1
+ 0*6
- 0.2
• 0*3
• 0*3
T5T7
L a s t Wednesday o f S e p t e m b e r t o l a s t Wednesday o f O c t o b e r
Item
Weekly r e p o r t i n g b a n k s
> 1.0
195k
1953
1952
1951
+ 0.2
+ 1.8
+ 0.2
+ 1.0
— 0.1
• 0.7
—0.2
1950
1919
• 0.6
• 0.6
- o.i
* 0*7
* 0*1
• 0.8
+ 1*2
• TOT
+ 0.7
• 5^5
+ 0.5
+ o.i
+ 0.2
1/
Total loans
U« S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
+ 0.1
• 2.1
+ 0.1
+ 0.2
+~t7%
+ 0.2
+ 0.3
- 0.1
- 0.1
2/
Nonreporting banks \ J
Total loans
U. S . Government
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
• f{l
T%[
2/
* 0.1
"Su
+ 0.6
+ 0.1
TS79
+ 0.1
7-03
• 0.1
+ 0.1
- 0.1
TTC3
1 / B e g i n n i n g 1959> c h a n g e s a r e on r e v i s e d b a s i s . Changes may n o t c o r r e s p o n d e x a c t l y w i t h
p u b l i s h e d d a t a f o r w e e k l y r e p o r t i n g banks because l o a n s t o f o r e i g n banks have b e e n
excluded from t h i s t a b u l a t i o n .
2 / Less than $50 m i l l i o n .
Wot f o r p u b l i c a t i o n
- 8 L.U.3
Table 2
Changes in leans and Investments
Menfeer Banks and Bonrei
aftliions ©j
Had o f June t o l a s t Wednesday o f O c t o b e r
Item
Weekly r e p o r t i n g banks
1960
190
1958
1957
1956
1955
- o.5
> w
+ o.U
7-CT
+ 2.4
- 1.9
- 0.1
- 1.0
—1.0
+ 0.1
• 0.8
> 0.3
• 0,8
—0.6
+
•
2.k
1.2
0.1
1.1
• 0.6
+
+
•
+
1.2
0.8
0.1
2.6
1/
Total loans
U. S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
Saffi*sig*tisg banks
a t Weekly Reporting
~=T3
Hti
• 0.8
• 2 #6
•
+
•
•
1/
Total loans
U, S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
•
•
»
•
0f9
2.1
0.1
3.i
ifciir
0.b
1.5
0.5
2.&
is
End o f June t o l a s t Wednesday o f O c t o b e r
Item
Weekly r e p o r t i n g b a n k s
2 A 1.3
V * 0.6
19&
1953
1952
1951
19%
191*9
- 0.3
+ 3.8
+ 0.8
• 2.6
• 1.7
— 0.1
2/
• 1.6
• 1.2
• 0.8
• 3.6
- 2.9
+ 0*6
1/
+ 3.7
• 0*5
T # 2
• 0.1
• 2.9
• 0.2
"^172
+
+
•
+
• 1.0
+ 1.8
+ 0.2
• 0.2
• 1.6
• 1.&
— 0.U
• 0.2
T 7 3
•
•
•
T
1/
Total loans
U. S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
T&
Nonreporting banks 1 /
Total loans
U. S . Government
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
1/
1
2/
J/
0.6
1.1
@.2
2.0
0.7
0.7
0.1
C I
B e g i n n i n g 1 9 5 9 , c h a n g e s a r e on r e v i s e d b a s i s . Changes may n o t c o r r e s p o n d e x a c t l y w i t h
p u b l i s h e d d a t a f o r w e e k l y r e p o r t i n g b a n k s b e c a u s e l o a n s t o f o r e i g n b a n k s have b e e n
e x c l u d e d from t h i s t a b u l a t i o n .
1 * 8 8 t h a n $50 m i l l i o n .
T ° t a l c r e d i t a t n o n r e p o r t i n g b a n k s i n c r e a s e d a b o u t #30® m i l l i o n a s a r e s u l t o f bank
s t r u c t u r e c h a n g e s ; l o a n s i n c r e a s e d a b o u t $ 2 0 0 m i l l i o n and U. S . Government s e c u r i t i e s
about $100 m i l l i o n .
Digitized
# . N o tforf FRASER
or publication
- 9 -
L.U.3
Table 2
Changes l a leans sad Investments at Weekly Reporting
....
m i l l i o n s e f del
End o f December t o l a s t Wednesday e f O c t o b e r
I960
Weekly r e p o r t i n g banks
1958
1957
1956
1955
• It . 7
- 6.1*
* ®»2
- 1.9
> 5.2
+ 1.6
7 1 ^
— 0.2
—1.5
+ 0.&
• 3.6
- it.2
• 5.1
• 6«0
+
+
•
T
• 2.2
+ 0.2
*0.9
1/
Total loans
U. S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
• 0*1
+ 1.9
- 0.1
Total loans
U. S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
• 3.%
- 0.3
2/
y+k.3
S/- 0.5
]/*• 0 . 2
y*
M
2.1
2.8
1,0
T 9
H S
T J 3
• 2*0
• ®,l
• o.i
+ 2.9
— 0*1
+ ©*5
7 3 3
Bad of December to last Wednesday of October
Item
Weekly r e p o r t i n g b a n k s
1959
195k
1953
1952
1951
190
19li9
- 1.7
t..fce7.
• 1.1
+ M.1
* 0.5
" 1*2
2/
m @$6
• 2.1
• 0.1
• 0*6
+ 2*5
- 1*7
+ 0*1
• h.2
- 3.7
• 1*6
TTX
+~$79
T T 3
+ 0*8
• 4.0
• 1.3
+ 2.1
• 0.3
>
+
>
+
+
+
•
>
* i.&
+ 0.6
• 0.1*
+ 2*6
• 0*8
• 0*6
+ 0.8
• 0.1
• 0.1
1/
Total loans
U. S . Government s e c u r i t i e s
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
• k.9
Nonreporting banks 1 /
Total loans
U. S . Government
Other s e c u r i t i e s
T o t a l l o a n s and i n v e s t m e n t s
T j n
1,8
0.2
O.li
S.S
2.1
1.3
0.3
3.5
T J Z
y B e g i n n i n g 1959# c h a n g e s a r e on r e v i s e d b a s i s .
Changes d o n o t c o r r e s p o n d e x a c t l y w i t h
#
p u b l i s h e d d a t a f o r w e e k l y r e p o r t i n g b a n k s b e c a u s e l o a n s t o f o r e i g n b a n k s have b e e n
excluded from t h i s t a b u l a t i o n .
2 / L e s s t h a n $5® m i l l i o n .
3 / T o t a l c r e d i t a t n e n r e p o r t i n g b a n k s i n c r e a s e d about $1
•fustic**-'
s t r u c t u r e c h a n g e s ; l o a n s i n c r e a s e d about $600 m i l l i o n and U. S . Government s e c u r i t i e s
a b o u t *30q m i l l i o n , and o t h e r s e c u r i t i e s a b o u t # 1 0 0 m i l l i o n *
% Notfor FRASER
for publication
Digitized
- 10 -
L.U.3
Table 3
Changes I n Commercial and I n d u s t r i a l Loans 1 /
(In m i l l i o n s of d o l l a r s )
~
L a s t Wednesday i n September t o l a s t Wednesday i n O c t o b e r
B u s i n e s s of Borrower
^
™
Food p r o c e s s o r s
Commodity d e a l e r s
Trade c o n c e r n s
Total
I960
+ 212
• 175
A l l other - t o t a l
M e t a l s and p r o d u c t s
T e x t i l e s , apparel
and l e a t h e r
Petroleum, c o a l e t c .
Other m a n u f a c t u r i n g
and m i n i n g
Public u t i l i t i e s
Construction
A l l other t y p e s of
business
^
•
®
Classified
Unclassified
T o t a l change e x c l u d i n g
sales finance
82
>
>
96
71
* 20
r-Hr
— 380
6®
1953
206
161
167
157
7339
159
163
+ 403
+ 113
+ 95
+ 113
+""351
+ 12lt
• 165
• 8fc
• 258
- 20U - 1 1 7
05
-
10?
-113
23
12 *
25
31
-
•
-
• 130
•
6
h3 •
8
k3
—
•
76
36
— iii
•
5it
u
.
23
16
28
•
68
— 21
* 151
73
-
52
•
•
62 •
68
-
Wk -
33
• 122
- 107
• 181
•
35
•
15
- 581
+
35
+
83
- 191
— 106
195k
1952V
*~rn
• 179
+ 227
+ 109
7-51*
-199
•
11
-
631 +
52
T--5?
-160 • 26 — hi
- 199
- 390
tJ
i /
T o t a l change
^
V
+
+
1251
1 9 5 8 V 1957 V 1956 V
m
Sales finance
S
1959
-
2k
-
+
55
22
13
- 109
+ 17
+ 180
— 3h
78 y + i h 6
336
j/+350
-
1*7
•
63
— 1)8
• 27
mm
2 6
-
9
23
9
>
-
27
71
•
12
•
90 * a
- 180 +
•
7
+
59
+ 38
— 10
+
28
-
113
85
•
6
+ 57-7
•
26
J^+198
+ 11*5 Y + 3 9 7
+ 592
l / P r i o r t o week e n d i n g J a n u a r y 1 1 , 1 9 5 6 , i n c l u d e s c h a n g e s i n a g r i c u l t u r a l l o a n s .
Not i n c l u d e d i n b u s i n e s s l o a n s on r e v i s e d b a s i s .
I n order t o keep comparisons i n a four-week b a s i s t h e f o l l o w i n g d a t e s were u s e d ,
1958, Oct. 1 - O c t . 2 9 ; 1957, O c t . 2 - 0 c t . 30} 1956, Oct. 3 - 0 c t . 31} 1 9 5 2 , O c t . 1 - O c t . 29.
k / I n c l u d e s CCC c e r t i f i c a t e s o f i n t e r e s t w h i c h a r e e s t i m a t e d t o h a v e i n c r e a s e d $ 1 7 5
million.
5 / This computation e x c l u d e s $300 m i l l i o n l o a n s r e c l a s s i f i e d from r e a l e s t a t e t o b u s i n e s s
~ i n October.
f
Not f o r p u b l i c a t i o n
• 11 •
L.U.3
Table 3
Changes i n Commercial and I n d u s t r i a l Loans 1 /
(In m i l l i o n s of d o l l a r s )
B u s i n e s s o f Borrower
Food p r o c e s s o r s
Commodity d e a l e r s
Trade c o n c e r n s
Total
Sales finance
2/
1957
+ 3k9
+ 13b
- 233
- 502
- 67b
+ 32
- 1 3 3
- 600
+
27
+
97
225L
287 + 5b©
2 7 0 + 538
1 9 5 + 226
TC2 • 1 , 2 6 b
* 307
+ 210
+ 866
SX&
T o t a l change e x c l u d i n g
stiles finance
1958
+
•
+
+
- 613
*» 6 1 6
1 «
T o t a l change
19593/
3 5 3 + 352
295 + 3 8 6
1 2 9 + 262
777 + 1 , 0 0 0
2/
<
Classified
Unclassified
%
1960
+
+
+
+
A l l other - t o t a l
M e t a l s and p r o d u c t s
T e x t i l e s , apparel
and l e a t h e r
Petroleum, c o a l e t c .
Other m a n u f a c t u r i n g
and m i n i n g
Public u t i l i t i e s
Construction
A l l other types of
business
/
I
L a s t Wednesday i n June t o l a s t Wednesday i n O c t o b e r
1251 2221
+
+ 28k
+ 2b6
- b78
-
- 259
- 252
•
+ b52
±32$
9
- $27
•
+ 127
•
77
•
+
Ii9
53
•
10 + 10
+ 397
h9
• 157
• 110
+ 182
+
•
-
28
4*
b
69
+ 67
- 137
• 25
88
• 107
16
+ 283
* 367
193h
+ 258
+ 33©
+
- k59
— 346 — l i b
•
62 + 13
2251
T m
92
+ 119
+ 53®
+ 5b8
+ 136
+1,216
72
+ 1|1
• 320
+
1
+
•
53
bb
62
-
$k
-
27
22
•
36
+ 80
- 28b
+ bb
- 158
+ 22k
-
11
+ 123
+ 263
• lilt
+ 13b + 1 , 1 8 5
- 3bb - 1 2 8
+ 103
- 152
- 210 +1,057
-
b9
- b26 + 1 , 2 3 7 + I , b l 7 - Ill + b l 3 +1,1*19
- 367 - 1 7 7 / - 112 J f - 8 0 0 y + 92 •
83
1/
5 / - 8 U 6 / + 5 0 L +1,502
- 793 +1,060
'*
- 210
+ 18b
- 2 9 1 + 1 , 5 3 8 +1^397 5 A 5 8 2 6 / + 7 5 6 + 1 , 1 3 0
+
3b
+ 162
+ 923
53
15
P r i o r t o week e n d i n g J a n u a r y 1 1 , 1 9 5 6 , i n c l u d e s c h a n g e s i n a g r i c u l t u r a l l o a n s .
Not i n c l u d e d i n b u s i n e s s l o a n s on r e v i s e d b a s i s #
I n c l u d e s c h a n g e s e n u n r e v i s e d b a s i s f o r week o f J u l y 1 and r e v i s e d b a s i s t h e r e a f t e r *
I n c l u d e s CCC c e r t i f i c a t e s o f i n t e r e s t w h i c h a r e e s t i m a t e d t o h a v e d e c l i n e d # 3 0 0
million.
I n c l u d e s CCC c e r t i f i c a t e s o f i n t e r e s t w h i c h a r e e s t i m a t e d t o h a v e d e c l i n e d $u75 m i l l i o n
I n c l u d e s CCC c e r t i f i c a t e s o f i n t e r e s t w h i c h a r e e s t i m a t e d t o h a v e i n c r e a s e d # 1 7 5
million.
This computation e x c l u d e s #300 m i l l i o n l o a n s r e c l a s s i f i e d from r e a l e s t a t e t o
business loans i n October,
Not f o r p u b l i c a t i o n
- 12 •
L.U.3
Table 3
Changes i n Commercial and I n d u s t r i a l Loans 1 /
(In m i l l i o n s of d o l l a r s )
B u s i n e s s of Borrower
Food p r o c e s s o r s
Commodity d e a l e r s
Trade c o n c e r n s
Total
Sales finance
A l l other - t o t a l
M e t a l s and p r o d u c t s
T e x t i l e s , apparel
and l e a t h e r
Petroleum, c o a l e t c .
Other m a n u f a c t u r i n g
and m i n i n g
Public u t i l i t i e s
Construction
A l l other types of
business
Classified
Unclassified
T o t a l change
T o t a l change e x c l u d i n g
sales finance
L a s t Wednesday i n December t o l a s t Wednesday I n O c t o b e r
I960
- 382
&
2/
+1,1:
19$9h/
1958
— 106 - 309
+ 32
+ <69
+
•
2l*
52
1957
19*6
1955
195k
• 168
+ 199
- 257
93
•
* 31*7
33
- 269
• 7 0
2M55
-1,086
— 136 - 800
$
+1.2
+1,358
s
+ 201
- 102
+ 1*2
+J97
• 21*1 • 62
- 202
— 1*5
• 386 + 2l*l
- 181 • 162
• 25&
+ 3h6
+ 821
• 390
• 206
• 1*85
- 3k
+ 51*7
+ 19
• 369
• 213
»
+ 272
+ 130
• 10$
+ 317
-
• 292
+1,111 + 2 } 1 9 3 • 1 , 6 5 $
- u i + 57 - 332
+ 970 +2,21*9 - 1 , 9 8 7
• 9 7 0 +1,791*
[%o?
+2.098
• 167
+ 10& + 161 + 1*79
- 133
• 119
28
+ 3k
+ 303
• k97
- 901
66
• 118
rig?
- l*3b
i9it
- 279
- 337
87
— 386
$27
- 11*5
- 3U2
.....
..v.
.V
•733 •1.U1
+1,014
+
+
+ 11*1 1*2
29
- 158
• 115
+
63
39
+ 333
•
99
+ 153
• 17
• 11*3
- 139
• 220
•
a
•
79
+ 979 • 3 , 3 6 1 • 2 , 6 7 3 - 1 , 3 | 6
/
58 # - 2 9 0 6 / - 9 S 2 2 / - U 2
- 523 -
P
+ 873
•
8
+ 1*56 + 3 , 3 0 3 • 2 , 3 8 3 ^ , 3 3 7 y -
89
+ 865
+ 591 +lt,103
+1,886
7 / + 2 5 3 +1,010
, P r i o r t o week e n d i n g J a n u a r y 1 1 , 1 9 5 6 , i n c l u d e s c h a n g e s i n a g r i c u l t u r a l l o a n s .
' N o t included i n b u s i n e s s l o a n s on r e v i s e d basis#
January-Jane.
Revised b a s i s a f t e r J u l y 1 .
jj>/ I n c l u d e d CCC c e r t i f i c a t e s o f i n t e r e s t w h i c h a r e e s t i m a t e d t o h a v e d e c l i n e d $ 8 2 0
million.
Excludes #300 m i l l i o n r e c l a s s i f i e d from r e a l e s t a t e .
6 / I n c l u d e s CCC c e r t i f i c a t e s o f i n t e r e s t w h i c h a r e e s t i m a t e d t o h a r e d e c l i n e d $1*10 m i l l i o n ,
7 / I n c l u d e s CCC c e r t i f i c a t e s o f i n t e r e s t w h i c h a r e e s t i m a t e d t o h a v e i n c r e a s e d $ 1 7 5
million.
Not f o r p u b l i c a t i o n
L.lt.3
mf
13 •
T a b l e It
Changes i n D e p o s i t s and C u r r e n c y
Estimated C
(In b i l l i o n s o f d o l l a j s )
Item
Seasonally adjusted data 1 /
Demand d e p o s i t s a d j u s t e d
Currency o u t s i d e banks
^
Total
Seasonally unadjusted data 1 /
Demand d e p o s i t s a d j u s t e d
Currency o u t s i d e banks
Total
^
Time d e p o s i t s
™
Commercial b a n k s
Mutual s a v i n g s b a n k s
U. S . Government d e p o s i t s
Total
^ Factors affecting deposits
W
and c u r r e n c y
5ahk l o a n s and i n v e s t m e n t s
o t h e r t h a n U. S . G o v t . s e c . 3 /
Commercial
~
Mutual s a v i n g s
Bank h o l d i n g s o f U. S .
™
Government s e c u r i t i e s :
Federal Reserve
Commercial
Mutual s a v i n g and o t h e r
Gold s t o c k and f o r e i g n
d e p o s i t s a t F . R. Banks
W
Other f a c t o r s
1/
*™
2/
3/
~
L a s t Wednesday o f September t o
Ta a t Waring a day o f O c t o b e r
i960
1959
+ 1.2
-0.4
• 0*2
+ 1.4
2.9
•
+
+ 0.6
* 0.1
-1.5
T J J
2/
+1.3
-0.2
+1.1
-0.1*
-0.2
-0.2
-1.1
-0.3
1958
+0.9
+0.1
+1.0
+2.9
+0.1
+3.0
+0.2
+0.2
+0.1
—0.8
"+27T
1957
-0.4
1956
-0.lt
1955
-0.5
+8.1
+0.1
^075
—0.3
-0.4
+1.7
+2.0
+1.2
+0.1
-0.1
1L
+1.7
+0.4
+0.1*
+0.1
-0.5
+0.3
+2.3
+0.2
+0.1
+0.1
-1.7
+0.8
+1.3
+0.2
+0.1
+0.1
+0.2
+1.9
( s i g n s i n d i c a t e e f f e c t on d e p o s i t s and c u r r e n c y )
- 0.3
* 0,2
* 0.2
+ 2.8
- 0.1
- 0.3
- 0.1
-0.lt
+0.1
-0.1
+1.0
^ 5
+0.2
-0.1
+1.9
+0.4
+1.5
-0.2
-0.1
2/
-0.2
-0.2
+0.2
+0.3
-0.1
+0.2
+0.3
+0.1
+0.2
+1.3
+0.1
+0.5
+0.2
+1.4
-0.2
%
+1.1
+0.8
+0.2
-0.2
+0.9
+0.3
+0.9
-0.2
+0.1
-0.1
2/
-0.1
+0.5
S e a s o n a l l y a d j u s t e d d a t a a r e f o r l a s t Wednesday t h r o u g h o u t ; u n a d j u s t e d d a t a a r e f o r
l a s t Wednesday e x c e p t i n c a s e o f June and December c a l l d a t e s , when a v a i l a b l e .
Less than $50 m i l l i o n .
T o t a l i n c l u d e s f o r e i g n l o a n s on g o l d , h o l d i n g s o f b a n k e r s ' a c c e p t a n c e s a t t h e
F e d e r a l R e s e r v e , and l o a n s t o f o r e i g n b a n k s ; c h a n g e s i n t h e s e i t e m s a r e g e n e r a l l y
r e l a t i v e l y s m a l l . E v e n i f t h e r e w e r e n o c h a n g e s i n o t h e r i t e m s , c h a n g e s a t comm e r c i a l b a n k s e x c l u d e a l l i n t e r b a n k l o a n s , d o m e s t i c and f o r e i g n , w h i l e t o t a l l o a n s
e x c l u d e o n l y t h o s e t o d o m e s t i c b a n k s . I n a d d i t i o n t h e r e i s -some l a c k o f
s y n c h r o n i z a t i o n i n r e p o r t i n g a s s e t and l i a b i l i t y i t e m s u s e d i n c o m p u t i n g " l o a n s n e t " ,
Not f o r p u b l i c a t i o n
• lit •
L.U.3
T a b l e It
E s t i m a t e d Changes
C
i n D e p o s i t s and C u r r e n c y
(In b i l l i o n s of dollars)
End of June t o l a s t Wednesday o f O c t o b e r
Item
Seasonally adjusted data 1 /
Demand d e p o s i t s a d j u s t e d
Currency o u t s i d e banks
Total
Seasonally unadjusted data ] /
Demand d e p o s i t s a d j u s t e d
Currency o u t s i d e banks
Total
Time d e p o s i t s
Commercial b a n k s
Mutual s a v i n g s b a n k s
U. S . Government d e p o s i t s
Total
Factors affecting deposits
and c u r r e n c y
Banic l o a n d and i n v e s t m e n t s
o t h e r t h a n U. S . G o v t , s e c * 3 /
Commercial
"*
Mutual s a v i n g s
Bank h o l d i n g s o f U. S .
Government s e c u r i t i e s :
Federal Reserve
Commercial
Mutual s a v i n g and o t h e r
G o l d s t o c k and f o r e i g n
d e p o s i t s a t F . R. Banks
Other f a c t o r s
I960
+ 1,6
+ 0.3
+ 1.9
lt.lt
2/
H X
3.1
2.6
0.5
1.1
S7T
19
1958
—0.6
+2.5
+0.1
+0.1
1957
1956
—1*2
—0.6
"=o~F
"+2TT
-0.1
-1.3
+2.0
+5.3
+0.2
+1.6
1L
+ 2/0
2/
+0.1
+0^8
"+27F
"WJ"
+1.8
+1.3
+0.6
—6.0
+1.3
+1/6
+1.7
+1.5
+0.1t
-1.2
+2.1
2/
1955
+0.4
+0.3
—0.6
+0.7
+2.7
+2.9
*2.1
+0.9
+0.5
+0.1t
—1.8
+1.2
-0.1
*2.6
+0.8
+0.1t
+0.5
-0.5
+3.2
( s i g n s i n d i c a t e e f f e c t on d e p o s i t s and currericy)
+ 1.6
+ 0.9
• 0.7
* 6.3
•irr
+ 6.U
- 0.2
- o.@
• 1.3
+0.6
+1.0
+0.1
+0.9
+1.1
+0.1t
+0.7
-1.2
+1,8
+lt.5
"+03"
-1.3
-0.lt
+07IT
+1.9
+0.3
—0.1
-0.3
-0.3
-0.7
—0.8
+0.1
-1.0
—0.2
+1.6
+1.8
+1.3
"+375"
+0.9
*0.8
+0.5
—0.3
"+07IT
-o.lt
IT
+0.9
-0.3
+0.1
—1,1
-0.2
2/
-0.8
1 / S e a s o n a l l y a d j u s t e d d a t a a r e f o r l a s t Wednesday t h r o u g h o u t } u n a d j u s t e d d a t a a r e f o r
l a s t Wednesday e x c e p t i n c a s e o f June and December c a l l d a t e s # when a v a i l a b l e . B e g i n , n i n g i n 1957> a l l June d a t a a r e f o r t h e l a s t Wednesday o f t h e month.
3 / T o t a l i n c l u d e s f o r e i g n l o a n s on g o l d , h o l d i n g s o f b a n k e r s ' a c c e p t a n c e s a t t h e
F e d e r a l R e s e r v e , and l o a n s t o f o r e i g n b a n k s ; c h a n g e s i n t h e s e i t e m s a r e g e n e r a l l y
r e l a t i v e l y s m a l l . E v e n i f t h e r e w e r e n o c h a n g e s i n o t h e r i t e m s , c h a n g e s a t comm e r c i a l b a n k s e x c l u d e a l l i n t e r b a n k l o a n s , d o m e s t i c and f o r e i g n , w h i l e t o t a l l o a n s
e x c l u d e o n l y t h o s e t o d o m e s t i c b a n k s . I n a d d i t i o n t h e r e i s some l a c k o f
s y n c h r o n i z a t i o n i n r e p o r t i n g a s s e t and l i a b i l i t y i t e m s u s e d i n c o m p u t i n g " l o a n s net™.
2 / L e s s t h a n 150 m i l l i o n .
I n A u g u s t 19591 a s a r e s u l t o f s t r u c t u r e c h a n g e s , demand d e p o s i t s a d j u s t e d i n c r e a s e d
a b o u t $200 m i l l i o n and t i m e d e p o s i t s a t commercial banks a b o u t #200 m i l l i o n .
i
Not f o r p u b l i c a t i o n
- 15 -
L#4»3
T a b l e It
E s t i m a t e d Cfaknges i n D e p o s i t s and C u r r e n c y
(In b i l l i o n s of dollarsJ
End o f December t o l a s t Wednesday o f O c t o b e r
Item
I960
1959^
1958
1957
+0.3
—0.7
+0.1
+0.1
—4.2
-0.5
-4.7
+5.9
+U.9
+1.3
-0.5
+0.6
-2.5
Seasonally adjusted data 1 /
Demand d e p o s i t s a d j u s teel
Currency o u t s i d e banks
Total
• 0.5
+ 0.2
• 0*3
+1.3
+0.3
+1.6
+L2
+0.1
+4.3
Seasonally unadjusted data 1 /
Demand d e p o s i t s a d j u s t e d
Currency o u t s i d e banks
Total
Time d e p o s i t s
Commercial b a n k s
Mutual s a v i n g s b a n k s
U. S . Government d e p o s i t s
Total
—3.2
- 1.1
—4.3
* £.9
+ k.l
+ 0.9
+ 0.9
+ 1.6
—2.8
-O.lj.
-3.2
+0.7
—0.3
+2.3
+0.6
+1.1
+0.7
+6.8
Factors affecting deposits
and c u r r e n c y
Bank l o a n d and i n v e s t m e n t s
o t h e r t h a n U# S# Govt# s e c # 3 /
Commercial
Mutual s a v i n g s
Bank h o l d i n g s o f U# S .
Government s e c u r i t i e s :
Federal Reserve
Commercial
Mutual s a v i n g and o t h e r
Gold s t o c k and f o r e i g n
d e p o s i t s a t F . R. Banks
Other f a c t o r s
™*
2/
3/
~
+2.8
-1.0
+0.4
+8.3
+1.7
-0.5
+8.3
1.
1956
u
-0.6
-3.1
+3.1
+1.8
+1.5
-0.1
-0.1
1955
+2.4
+0.4
+2.8
-0.5
—0.6
-1.0
+2.6
+1.1
+1.5
+0.2
+1.9
( s i g n s i n d i c a t e . e f f e c t a 1 d e p o s i t ! 1 and c u r •ency)
+ w
• 1.8
+
+
>
«
1.2
0.3
1.6
0.6
+9.8
+9.0
+2.6
*l.k
+2.5
-7.2
—0.4
+5.1
+8.7
.
+1.2
+8.0
-0. 4
+4.9
+3.3+1.9
+7.1
+5.2
+2.2
+10.4
+8.5
+2.0
—3*5
-1.7
-1.3
-0.5
-5.7
-1.0
-4.1
—0.5
-7.5
-1.0
-6.1
-0.5
+0.7
-1.5
+0.3
-1.8
+0.1
\ .
- 0.9
- 3.0
-1.1
-0.8
-2.0
-3.5
-1.1
l a s t Wednesday e x c e p t i n c a s e o f June and December c a l l d a t e s , when a v a i l a b l e #
Less than $50 million#
T o t a l i n c l u d e s f o r e i g n l o a n s on g o l d , h o l d i n g s o f b a n k e r s ' a c c e p t a n c e s a t t h e
'
F e d e r a l R e s e r v e , and l o a n s t o f o r e i g n b a n k s ; c h a n g e s i n t h e s e i t e m s a r e g e n e r a l l y
r e l a t i v e l y s m a l l # E v e n i f t h e r e were n o c h a n g e s i n o t h e r i t e m s , c h a n g e s a t conn
m e r c i a l b a n k s e x c l u d e a l l i n t e r b a n k l o a n s , d o m e s t i c and f o r e i g n , w h i l e t o t a l l o a n s
e x c l u d e o n l y t h o s e t o d o m e s t i c b a n k s . I n a d d i t i o n t h e r e i s -some l a c k o f
s y n c h r o n i z a t i o n i n r e p o r t i n g a s s e t and l i a b i l i t y i t e m s u s e d i n c o m p u t i n g " l o a n s n e t " .
4 / I n J a n u a r y , A p r i l , and August 1 9 5 9 , a s a r e s u l t o f bank s t r u c t u r e c h a n g e s , demand
d e p o s i t s a d j u s t e d a t c o m m e r c i a l banks i n c r e a s e d $400 m i l l i o n , t i m e d e p o s i t s a t
commercial b a n k s , # 7 0 0 m i l l i o n , a n d t i m e d e p o s i t s a t m u t u a l s a v i n g s banks d e c l i n e d
$300 m i l l i o n .
Not f o r p u b l i c a t i o n
L.4.3
- 16 Table 5
R a t i o s t o T0(bal D e p o s i t s
1/
L O A N S
1
Date
A l l commercial
banks
Total
Member ban]<s
Central reserve c i t y Eeserve
New York
Chicago
city
Country
191*6:
1947:
1918:
1949:
1950:
1951:
1952:
1953:
1954:
1955:
1956:
1957:
1958:
Dec*
Dec.
Dec.
Dec,
Dec,
Dec®
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
Dec.
31
31
31
31
31
31
31
31
31
31
31
31
31
23.3
27.7
31.2
31.1
35.8
37.2
39.3
40.5
40.3
45.8
48.8
49.7
48.4
23.7
28.2
31.3
30.9
36.1
37.6
39.9
41.1
40.7
46.7
50.1
51.0
49.4
27.7
31.0
35.9
34.9
42.5
46.3
50,6
50.6
46.8
56.7
61.7
61.9
57.7
27.3
30.3
30.4
25.6
32.3
36.2
38.9
39.1
38.3
46.3
52.7
55.2
49.4
26.0
31.1
33.4
32.4
38.1
39.4
41.1
42.2
41.9
48.5
52.7
53.3
51.3
18»9
23.4
27.1
28*5
31.5
32.1
33,9
36.1
37.1
40.7
42.6
44.1
44.4
1959:
J a n . 28
Feb. 25
Mar. 2 5
Apr. 2 9
May 27
June 24
J u l y 29
Aug. 2 6
Sept.30
O c t . 28
Nov. 2 5
Dec* 3 1
48.6
49 . 3
50.3
50.5
51.4
52.5
52.6
53.3
53.4
53.6
54.4
54.0
49.5
50.3
51.3
51.5
52.4
53.6
53.7
54.5
54.7
54.9
55.8
55.6
57.7
58.2
58.7
59.0
60.0
62.2
62.6
65.5
65.3
66.6
69.5
67.3
48.3
48.7
51.9
53.5
51.8
54.4
54.0
55.6
57.2
56.6
56.2
58.2
51.5
52.7
53.8
53.8
55.1
56.1
56.5
57.1
57.6
57.5
58.4
58.2
44.5
45.2
46.0
46.4
47.0
47.9
47.7
47.9
47.9
48.0
48.4
1
[
1960S
48.2
U.Se Govt, s e c u r i t i e s maturing
w i t h i n one y e a r
All
commercial
banks
2/14*3
14.0
2 / 14.2
U 19.2
2 / 15.2
9.8
11.7
16.9
10.0
5.1
7.5
8.4
8.3
y
7.9
6.8
5.5
5.7
6.7
6.0
6.5
5.9
5.7
5.9
6.1
6.7
Jan. 27
58.2
67.4
48.8
55.9
54.4
58.7
6.6
Feb. 24
55.6
69.4
62.7
60.4
57.1
49.4
5.5
Mar. 3 0
58.0
56.4
69.4
61.4
64.5
50.3
4.6
Apr. 2 7
56.2
67.6
62.0
61.1
57.7
50.6
4.9
56.8
68,0
>
May 2 5
63.8
58.3
61.7
51.4
4.4
June 2 9
57.1
63.2
58.5
67.4
61.9
51.7
4.1
J u l y 27p
56.2
66.9
61.7
57.5
60.5
51.1
5.2
Aug. 31pr61.1
56.6
58.0
61.0
67.7
51.6
5.4
66.0
Sept.28p
60.6
61.4
56.3
57.6
51.5
n.a.
65.5
0.6
O c t . 26P
56.7
5 M
55.3
le.
ava
1 / T o t a l l o a n s ( a d j u s t e d t o e x c l u d e l o a n s t o b a n k s ) ; U. S. Government s e c u r i t i e s m a t u r i n g
™° w i t h i n one y e a r e s t i m a t e d on b a s i s o f T r e a s u r y s u r v e y o f o w n e r s h i p ; and t o t a l d e p o s i t s
(adjusted t o exclude cash items i n process of c o l l e c t i o n ) .
2 / P r i o r t o 1951» d a t a a r e on c a l l b a s i s and b e g i n n i n g i n 1951* t h e y a r e on m a t u r i t y b a s i s .
On a c a l l b a s i s , d a t a f o r 1 9 5 1 and 1 9 5 2 a r e 2 1 . 5 and 1 9 * 1 r e s p e c t i v e l y .
^Not f o r p u b l i c a t i o n
- 17 Table 6
F r e e R e s e r v e s and T o t a l R e s e r v e s H e l d
( b a s e d on a v e r a g e s o f d a i l y f i g u r e s ; i n m i l l i o n s o f d o l l a r s )
Monthly a v e r a g e s *
Total reserves
held seasonally
adjusted
All
Central reserve c i t y Reserve
All
Country
member itaw York | C h i c a g o
city
member
j
i
1958*
Dec.
-
la
-
80
1959$
Jan.
Feb.
Mar,
Apr.
Mky
June
July
Aug.
Sept •
Oct.
Nov.
Dec *
-
59
1*7
mo
258
318
513
557
535
1*93
1*59
1*35
1*25
-
65
28
16
89
51
15
151*
Date
I960:
Jan.
Feb.
Mar.
Apr,
May
June
July
Aug.
Sept.
Oct.
Free r e s e r v e s
( e x c e s s r e s e r v e s minus b o r r o w i n g s )
- 360
- 361
- 219
- 195
- 33
ia
120
21*7
1*13
1*86
-
-
225
227
210
I81t
- 109
-
88
5d
«
31
1*5
16
3
27
2
9
-
1
-
32
53
- 26
- 122
- 61*
- 1*1
- 63
- 1*7
- 35
- 1*1*
•
82
- 62
- 101*
90
- 126
- 152
- 100
- 1*9
- 59
- 39
- 38
5
2
- 197 |
268
18,602
- 223
- 195
- 228
281
202
191*
178
133
101
121*
11*5
169
171
180
237
18,706
18,71*6
I8,6l5
18,661*
18,636
18,1*33
18,559
18,595
18,61*9
18,666
18,677
18,671
257
197
182
190
18,691
18,360
18,228
18,101*
18,276
18,275
18,389
18,1461*
1 / 18,71*7
1 / 18,905
- 28J4.
-
360
535
1*20
391
338
369
1*1*9
-
1*39
381
252
251*
173
120
128
62
-
1*1*
-
8
w
11*1*
201*
290
375
1*61*
1*86
Weekly a v e r a g e s :
S e p t . 28
Oct.
5
12
19
26
Nov.
2
29k
lao
51*2
789
271
1*00
-
15
19
1*
123
- 61
8
•
-
16
7
3
16
26
22
- 112
- 21
- 30
11*2
- 91*
- 26
1*36
1*07
576
567
1*51*
1*1*0
n«a»
n»a.
n.a.
n.a.
n.a.
n.a.
Note* D a t a f o r l a t e O c t o b e r and November a r e p r e l i m i n a r y .
1 / Data have b e e n a d j u s t e d t o e x c l u d e e f f e c t o f r e d u c t i o n i n r e s e r v e r e q u i r e m e n t s
~~ a t c e n t r a l r e s e r v e c i t i e s on September 1 ,
L.U.3
» 1 8 «•
Table 7
Changes i n Member Bank R e s e r v e s , w i t h R e l e v a n t F a c t o r s
(Monthly average of d a i l y f i g u r e s ; i n m i l l i o n s o f d o l l a r s )
October
Item
Member bank r e s e r v e s
Required r e s e r v e s 1 /
E f f e c t o f change i n
requirements
E f f e c t o f d e p o s i t change
Excess reserves 1 /
Total reserves held 1 /
Cash a l l o w e d a s r e s e r v e s
Reserve balances
I960
y
reserves held, seasonally
adjusted
~
19
+ 159
3
+
+
19
36
17
P
S
+ 158
19#
I960
19#
+ 259
+ 120
- 363
- 218
+ 381*
+ 120
+ 169
+ 39
+ 159
- 125
- 238
+ 153
- 125
+ 11*6
17
January-October
I960
19#
+ 159
Principal factors
H S f
- 158
• 159
>575
- 785
17
+ 233
+ 23k
s i g n s i n d i c a t e e f f e c t on r e s e r v e s )
Currency i n c i r c u l a t i o n
Gold s t o c k and f o r e i g n
accounts
Treasury operations
Federal Reserve f l o a t
Other f a c t o r s
E f f e c t o f above
f a c t o r s on r e s e r v e s
J u l y - October
1*5
- 257
- 158
- 777
+ itii
- 557
> 231*
+
61*
+
81
+ 591
-289
+
61*
• 396
•1,1®5
+ 321
+ 106
+
» 218
71
^_2@9
- 381
52
15
- 198
• 169
- 81*5
- 360
-
1*2
- 821
+ 3h$
- 151
+ 687
+ 520
- 71*3
532
Tim
* 121
+ 19
=-55
+ 81*
+ 205
F e d e r a l R e s e r v e l o a n s and
investments:
Total
U. S . G o v t , s e c u r i t i e s
Outright
Repurchase a g r e e m e n t s
Acceptances
D i s c o u n t s and a d v a n c e s :
To member b a n k s
To o t h e r s
1/
Preliminary f o r October I960,
Not f o r p u b l i c a t i o n
+ 1*02
7 - m
+
+
21
6
-
+
76
13
+
+
8
+
2
3
11
- 276
+
21
+
-
21*
5
•
«
16
13
-
21
- 757
+ 16
»
•
58
18
+ 31*8
3
L.4.3
Table 8
-19 -
L i q u i d A s s e t s H e l d by t h e P u b l i c — S e a s o n a l l y A d j u s t e d S e r i e s
(Amounts i n b i l l i o n s o f d o l l a r s j r a t i o s e x p r e s s e d a s p e r c e n t a g e s )
End o f
month
19#
1951
1952
1953
1954
1955
1956
1957
1958
1959
.
May
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
I960
Jan.
Feb.
Mar.
Apr.
May
June
July
Aug..
Sept.
Demand
Personal-type savings
deposits Total
U. S . Govt
Total
a d j u s t e d p e r s o n a l - Time d e p o s i t s
u. s .
S
a
v
i
n
g
s
securities
liquid
type
and
adjusted l /
and
G
o
v
t
,
maturing
assets
c u r r e n c y s a v i n g s Commer- Mutual
l
o
a
n
s
a
v
i
n
g
s
w
i t h i n one
(2+3+8)
o u t s i d e (4+5+6+7) c i a l
savings
s h a r e s bonds
year 5 /
banks l /
banks banks 2 /
V
4/
1
2
3
4
5
6
7
8
Ratios
Ratio;
Commercial
Tbtal
Commercial
bank demand
liquid
bank d e p o s i t s
and t i m e d e + currency t o a s s e t s t o
posits adj.
gross
total liquid
and c u r r e n c y
national
assets
(2 + 4)
(9 * 1 )
n r o d u c t 6j
9
10
11
271.8
284.0
296.2
308.3
318.0
330.3
339.9
351.7
369.7
114.6
120.2
124.1
126.6
130.0
133.5
134.5
133.6
138.8
129.0
132.7
1U0.6
118.6
158.1
166. 4
174.1
182.8
196.7
36.3
37.8
40.6
43.6
46.8
48.5
50.7
56.lt
63.4
23.0
23.6
25.2
26.7
28.5
30.0
31.6
33.0
35.1
lit.O
16.1
19.2
22.8
27.2
32.0
37.0
ltl.7
lt7.7
55.7
55.2
55.6
55.5
55.6
55.9
54.8
51.7
50.5
28.2
31.1
31.5
33.1
29.9
30.lt
31.3
35.3
3U.2
150.9
158.0
164.7
170.2
176.8
182.0
185.2
190.0
202.2
55.5
55.6
55.6
55.2
55.6
55.1
54.5
54.0
54.7
380.4
383.8
385.8
387.0
387.8
387.8
388.2
388.U
11*0.6
140.9
1U0.9
140.8
140.4
140.1
140.2
200.3
200.9
201.3
202.1
202.8
202.9
203.7
20 k . 1
64.6
6U.8
6U.9
65.2
65.6
65.5
65.9
65.9
35.5
35.6
35.6
35.7
35.8
35.7
35.8
35.9
50.lt
51.0
51.5
52.1
52.6
53.2
53.7
54.3
49.8
19.5
U9.3
49.1
48.8
48.5
48.3
lt8.0
39.5
U2.0
43.3
44.0
Wt.2
44.5
Wt.lt
44.1
205.2
205.7
206.1
206.1
206.4
205.9
206.0
206.1
53.9
53.6
53.4
53.3
53.2
53.1
53.1
53.1
389.2
389.1
390.3
390.4
386.7
388.6
388.7
390.2
392.6
1U0.0
139.1
139.5
139. 4
137.5
138.0
138.6
138.6
138.5
204.1
204.5
205.2
205.7
206.5
207.6
209.1
210.9
212.5
65.7
65:7
65.9
66.0
66.1
66.8
67,5
68.6
69.3
35.8
35.8
36.0
36.1
36.1
36.1
36.lt
36.lt
36.6
5U.9
55.4
55.9
56.lt
57.1
57.6
58.2
59.0
59.6
1+7.7
47.6
lt7.lt
47.2
lt7.2
47.1
47.0
U6.9
47.0
45.1
45.5
45.6
45.3
205.7
204.8
205.4
205.4
203.6
204.8
206.1
207.2
207.8
52.9
52.6
52.6
52.6
52.7
52.7
53.0
53.1
52.9
For f o o t n o t e s
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Federal Reserve Bank eof St. Louis
141.2
42.7
43.0
41.0
40.7
4i.6
89.1
83.3
82.2
85.1
85.3
80.7
78.8
79.3
79.3
77.7
80.2
79.8
77.7
77.0
78,1
s e e r e v e r s e s i d e of s h e e t ,
#
m
m
m
m
#
#
e
#
p Preliminary.
1 / Data f o r demand and t i m e d e p o s i t s a d j u s t e d and c u r r e n c y o u t s i d e banks a r e a s o f l a s t Wednesday o f month,
e x c e p t t h a t t i m e d e p o s i t s a r e a s o f June 3 0 and December 3 1 when c a l l d a t a f o r t h e s e d a t e s w r e a v a i l a b l e
2 / I n c l u d e s s a v i n g s d e p o s i t s i n t h e P o s t a l S a v i n g s System3 / P r i o r t o 1955 d a t a a r e Board e s t i m a t e s b a s e d on m o n t h l y f i g u r e s o f i n f l o w o f new s a v i n g s and w i t h d r a w a l s
o f s a v i n g s c a p i t a l c o m p i l e d b y t h e F e d e r a l Home Loan Bank Board.
h / I n c l u d e s a l l t y p e s o f s a v i n g s bonds h e l d b y i n v e s t o r s o t h e r t h a n banks and IT. S„ Government a g e n c i e s and
~~ t r u s t f u n d s .
5 / I n c l u d e s a l l m a r k e t a b l e s e c u r i t i e s m a t u r i n g w i t h i n one y e a r ( a d j u s t e d t o i n c l u d e o a r t i a l l y t a x exemnt
s e c u r i t i e s 12 months p r i o r t o f i r s t c a l l d a t e ) and, p r i o r t o 1 9 5 6 , nonmarketable T r e a s u r y s a v i n g s n o t e s
w i t h m a t u r i t i e s up t o 2h months; f i g u r e s i n c l u d e h o l d i n g s o f i n s u r a n c e conroanies, b r o k e r s and d e a l e r s ,
S t a t e and l o c a l g o v e r n m e n t s , nonbank c o r p o r a t i o n s , c o r p o r a t e p e n s i o n f u n d s , n o n p r o f i t i n s t i t u t i o n s ,
f o r e i g n a c c o u n t s , and i n d i v i d u a l s .
6 / Gross n a t i o n a l p r o d u c t e s t i m a t e s a r e a v a i l a b l e q u a r t e r l y and a n n u a l l y o n l y . For 1 9 5 0 - 5 8 r a t i o s a r e f o r
l a s t q u a r t e r o f y e a r ; f o r 1 9 5 9 and I 9 6 0 , f o r each q u a r t e r of y e a r . Data f o r t o t a l l i q u i d a s s e t s u s e d i n
computing t h e s e r a t i o s a r e q u a r t e r l y a v e r a g e f o r f o u r d a t e s : e a c h month o f t h e c u r r e n t q u a r t e r and t h e
l a s t month o f t h e p r e c e d i n g q u a r t e r .
L.4.5
(2)
(51
Seasonally adjusted
money s u p p l y l /
i l l
Year
or
month
End o f Dec:
1954
1955
1956
1957
1958
m
Seasonally
adjusted
money
CurDemand
s u p p l y and
Total
rency
deposits
time dep.
(2+3)
outside
adjusted
a t comm.
banks
banks(l+7)
-
•
- 20 -
L§1
L2l
Time d e p o s i t s
Demand
deposits
adjusted
Total
(7+8+9)
iiol
111!
il2l
Total
Curdeposits
Govt,
rency
and
Commer- Mutual P o s t a l d e p o s i t s o u t s i d e c u r r e n c y
savings savings
cial
banks (5+6+10
2/
+11)
u. s .
•
150.0
133.5
154.5
135.6
158.8
105.1
106.1
107.1
105.8
110.7
140.9
141.2
140.9
140.8
140.4
140.1
140.2
112.6
112.9
112.6
112.0
111.8
112.0
140.0
159.1
159.5
159.4
157.5
158.0
158.6
158.6
158.5
159.9
111.7
110.8
111.1
111.2
109.5
109.9
110.5
110.5
110.5
111.5
1959s
June 24
J u l y 29
Aug. 26 $ J
S e p t . 30
O c t . 28
Nov. 25
D e c . 31 4 /
I960:
J a n . 27
F e b . 24
Mar. 30
Apr. 27
May 25
June 29
J u l y 27
Aug. 31
S e p t . 28 p
O c t . 26 p
Table 9
D e p o s i t s and Currency
( i n b i l l i o n s of d o l l a r s )
112.4
26.9
27.4
27.4
27.8
28.1
28.5
28.5
28.5
28.4
28.4
28.5
28.2
28.5
28.5
28.4
28.2
28.2
28.1
28.5
28.5
28.2
28.4
176.8
181.9
185.1
189.7
202.0
106.6
109.9
111.4
110.5
115.5
75.5
78.4
82.2
89.1
98.5
46.8
48.4
50.6
56.1
65.2
26.5
28.1
50.0
51.7
54.0
2.1
1.9
1.6
1.5
1.1
5.1
4.4
4.5
4.7
4.9
27.9
28.5
28.5
28.5
28.7
214.8
221.0
226,4
252.5
247.5
206.5
206.5
206.4
206.5
205.9
204.8
206.1
110.7
112.7
111.1
111.4
112.7
115.1
115.4
100.1
100.8
101.2
101.5
101.1
100.3
101.8
65.4
65.5
65.5
65.7
65.5
64.7
65.9
54.6
54.5
54.7
54.8
54.6
54.6
54.9
1.1
1.0
1.0
1.0
1.0
1.0
0.9
5.2
5.6
6.5
7.1
6.0
5.1
5.8
28.5
28.4
28.5
28.5
28.5
29.1
29.4
245.4
247.6
247.4
248.5
248.2
247.6
252.4
205.2
204.5
205.5
205.6
204.0
205.4
206.5
207.5
207.9
209.9
114.0
110.5
108.8
111.5
107.7
107.8
110.1
108.9
109.5
112.2
101.0
101.2
102.2
102.5
102.6
105.6
104.2
105.5
106.0
106.7
65.2
54.9
54.9
55.5
55.2
55.2
55.4
55.5
55.6
55.8
55.9
0.9
0.9
0.9
0.9
0.9
0.8
0.8
0.8
0.8
0.8
4.4
5.5
5.2
5.5
7.7
7.8
7.0
6.2
8.2
6.7
27.9
28.0
28.1
27.9
28.1
28.5
28.4
28.5
28.5
28.5
247.5
244.9
244.2
247.0
246.1
247.7
249.6
248.8
251.8
254.0
65.4
66.0
66.2
66.5
67.4
67.9
68.9
69.4
70.0
p Preliminary, r Revised.
1 / S e a s o n a l l y adju
o f t h e month. 2 / At c o m m e r c i a l , s a v i n g s and F e d e r a l R e s e r v e Banks, j / As a r e s u l t o f i n c l u s i o n o f a l l banks i n
H a w a i i , demand d e p o s i t s a d j u s t e d i n c r e a s e d about $ 2 0 0 m i l l i o n and t i m e d e p o s i t s a t commercial banks a b o u t $ 2 0 0 m i l l i o n .
On b a l a n c e i n 1959* a s a r e s u l t o f s t r u c t u r e c h a n g e s , demand d e p o s i t s a d j u s t e d i n c r e a s e d $ 4 0 0 m i l l i o n , t i m e d e p o s i t s
a t commercial banks i n c r e a s e d $ 7 0 0 m i l l i o n , and t i m e d e p o s i t s a t mutual s a v i n g s banks d e c l i n e d $ 3 0 0 m i l l i o n . 4 /
Demand d e p o s i t s were r e d u c e d a b o u t $400 m i l l i o n a s a r e s u l t o f a t e c h n i c a l change u n d e r R e g u l a t i o n D amending t h e
d e f i n i t i o n of such d e p o s i t s .
http://fraser.stlouisfed.org/
Jot •P/y^sTi'hiicatioi:
Federal Reserve Bank of St. Louis
L.it.3
Table 10
Loans and I n v e s t m e n t s a t A l l Commercial Banks
(In b i l l i o n s of dollars)
1951t:
1955s
1956:
1957:
1958:
Dec.
Dec.
Dec.
Dec.
Dec.
31
31
31
31
31
Loans
and
investments
155-7
160^3
l6U»5
169.3
I8it.it
1959:
June 2it ( o l d )
J u n e 2k (new)
J u l y 29
Aug. 26 y
S e p t . 30
O c t . 28
Nov. 25
Dec. 31
18U.2
181*. 2
185.7
186.1
186.3
186.7
186.1
189.5
Date
U. S .
Other T o t a l
Govt,
secur- loans
securities
ities
69.0
16.3
7 0 . it
82.0
61.6
16.7
16.3
58.6
89.7
58.2
17.9
93.2
20.6
66.it
97.5
60.9
60.9
61.1
60.3
59.2
59.6
58.5
58.9
20.6
20.6
20.6
20.5
20.7
20.6
20.3
20.5
Business
102.8
102.8
103.9
105.3
106.3
106.5
107.3
110.0
Real Securestate ity
Farm
- 21 -
Consumer
26.9
33.2
38.7
U0.5
it0.it
I8.it
20.8
22.5
23.1
25.3
U.5
5.o
it.3
U.2
it.7
5.2
U.5
it.2
it.l
5.0
10.9
13.2
lit.6
15.8
15.9
1|2.5
37.8
37.8
38.2
38.7
38.8
39.U
26.9
26.9
27.1
27.3
27.5
27.7
27.9
28.1
it.l
it.l
it.2
it.2
it.l
it.l
5.0
5.0
5.1
5.1
5.1
5.0
U.9
5.0
I7.it
17.it
17.6
17.9
18.1
18.3
18.3
18.5
it0.2
It.l
it.9
Nonbank
financial All
i n s t i t u - other
tions
5.6"
6.5
6.9
7.2
—— —
8.2
mmwmmm
5.9
6.2
6.6
6.5
6.0
6.2
7.1
8.9
7.7
7.8
8.0
8.3
8.5
8.5
8.5
18.6
28.1
8.U
lt.o
6.3
J a n . 27
185.6
58.0
2 0 . 3 J-07.lt
it. 9
39.it
1
8
.
6
6
.
it
28.2
20.1 108.1
8.5
5
.
0
F e b . 2h
18U.3
39.8
56.2
3.9
6
.
6
1
8
.
6
8.1t
2
0
.
1
2
8
.
2
1
0
9
.
1
l
t
0
.
9
I
8
3
.
i
t
Mar. 30
5.1
5U.2
3.5
8.6
6
.
8
2
0
.
0
1
8
6
.
2
1
1
0
.
U
1
9
.
0
2
8
.
3
ltO.9
5
.
2
A p r . 27 r
55.8
3.9
6
.
7
1
9
.
2
1
9
.
8
1
1
0
.
9
2
8
.
3
i
t
l
.
3
May 2 5 r
185.9
55.1
0.7
3.7
5.3
8.8
7.1/
186.7
28.it
3.8
19.5
June 29 r
5.it
5U.2
19.9 112.6
H.9
188.6
2
0
.
0
7
.
0
8.7
1
1
1
.
9
i
t
l
.
l
J u l y 27 r
2
8
.
5
3
.
8
19.5
56.7
5.5
6
.
8
28.6
8.9
1
9
.
6
189.0
20.0 1 1 2 . 5
itl.l
56.6
it.l
Aug. 3 1 r
5.6
S ^ p t . 28 p
2
0
.
2
191.U
8.9
28.7
113.5
ill. 7
6.7
19.8
U.3
57.7
5.7
O c t . 26p
60.5
20.U 1 1 3 . 0
8.9
193.9
itl.6
28.8
6.2
5.7
it.2
19.9
T o t a l c r e d i t ii n c r e a s e d about $300 m i l ] Lion a s
p P r e l i m i n a r y , r R e v i s e d on b a s i s oJ June 1 5 ca] .. 1/
a r e s u l t o f bank s t r u c t u r e c h a n g e s . S t r u c t u r e c h a n g e s i n 1959* on b a l a n c e t h r o u g h A u g u s t , added a l m o s t
$ 1 b i l l i o n t o t o t a l c r e d i t ; $600 m i l l i o n i n l o a n s ; $ 3 0 0 m i l l i o n i n U. S . Government s e c u r i t i e s j and $ 1 0 0
m i l l i o n i n o t h e r s e c u r i t i e s . R e a l e s t a t e l o a n s i n c r e a s e d about $ 3 0 0 m i l l i o n ; b u s i n e s s l o a n s $ 1 0 0 m i l l i o n ;
consumer l o a n s , $ 1 0 0 m i l l i o r i j . and o t h e r l o a n s $ 1 0 0 m i l l i o n . N o t e : Data e x c l u d e i n t e r b a n k l o a n s . T o t a l
l o a n s a r e a f t e r and t y p e s o f l o a n s b e f o r e d e d u c t i o n s f o r v a l u a t i o n r e s e r v e s .
Consumer and " o t h e r l o a n s "
a r e p a r t l y e s t i m a t e d f o r a l l d a t e s . Other d a t a a r e p a r t l y e s t i m a t e d on a l l b u t June and December c a l l
d a t e s . B e g i n n i n g June 2it> 1959 > " b u s i n e s s l o a n s " and " a l l o t h e r l o a n s " have b e e n r e v i s e d t o e x c l u d e l o a n s
t o noribaaikfinancial i n s t i t u t i o n s .
1960S
*
•
.
Not f o r p u b l i c a t i o n
http://fraser.stlouisfed.org/
# Reserve Bank eof St. Louis
Federal
#
e
e
e
#
'
#
e
-
m
'
e
@FedFRASER