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FEDERAL RESERVE BANK
of KANSAS CITY
/
1.4.3
^O^fV^ur~
SEP 2 1 1961
— Research Library —
x
BANKING AND MONETARY DEVELOPMENTS IN AUGUST 1961
Total commercial bank credit declined slightly in August following a sharp
increase in July associated mainly with Treasury financing operations. Total loans
showed little further change. The seasonally adjusted money supply was unchanged
between the second half of July and the second half of August. Time deposits continued to expand substantially, however, and U. S. Government deposits also increased.
Turnover of demand deposits rose. Total reserves and required reserves of all member
banks increased. Free reserves were unchanged.
Bank credit. Total credit at all commercial banks declined slightly,
$300 million, in August following an increase of almost $3 billion in July. Most
of the expansion in July was associated with bank purchases of nearly all the $3.5
billion Treasury tax anticipation bills offered for cash on July 26. In August,
holdings of U. S. Government securities declined only moderately, however — by
$500 million, mostly early in the month. Weekly reporting banks in leading cities
reduced their holdings over $600 million following a $2.3 billion rise in their
holdings in the week of the financing. At nonweekly reporting banks, holdings of
U. S. Government securities increased slightly further in August. Holdings of
State, local, and other securities increased $200 million further in August; a substantial part of the expansion was at banks in New York City and reflected in part
purchases of new FNMA debentures.
Total loans were unchanged in August, in contrast with loan expansion in
August of all past years except 1954 and 1958. Developments this year, however,
were influenced by heavy August reductions in security loans that followed borrowing
in connection with the late July financing. Total loan reductions at leading city
banks were offset by loan expansion at banks outside leading cities where growth,
while slightly below that in August of the past two years, exceeded that of most
other recent years.
Since June, credit at all commercial banks has increased $2.5 billion,
about the same as the comparable periods last year and in 1954 and more than in
any other year. This has been reflected mostly in expansion in security holdings.
Loans declined slightly over the period, about in line with the seasonal pattern.
Business loans at all commercial banks, which usually rise at this time
of year, increased $200 million in August, somewhat less than in most previous
years. In August last year, however, business loans had remained unchanged. Since
midyear, net repayments of business loans have been somewhat less than seasonal,
totaling $300 million, or about half as much as in the comparable period last year.
Loans to food processors and commodity dealers increased about seasonally
in August. Those to trade concerns rose considerably more than usual presumably
reflecting inventory rebuilding at the retail level. Net new borrowing by textile
Not for publication
manufacturers was about the usual amount. "All other" business loans increased in
near record volume, reflecting mainly, it would appear, increased loans to service
industries. Net repayments by petroleum and chemical concerns were unusually large
in August due mostly to repayment by a leading oil company of term loans in New York
with the proceeds of capital market financing. Loans to metals companies and public
utilities continued to decline in August as is usual.
Loans to nonbank financial institutions increased somewhat last month.
Since midyear, there has been little change in these loans whereas last year they
had declined. However, the usual mid-June borrowing was also smaller this year
than last.
Security loans declined $600 million in August following a sharp rise in
late July in loans to U. S. Government security dealers associated with Treasury
financing. Net repayments by these dealers accounted for about two-thirds of the
August reduction. Loans for purchasing and carrying securities other than those of
the U. S. Government also declined relatively substantially in August following a
slight reduction in July. At leading city banks the reduction in these loans since
June has come to about one-third the volume of the second quarter increase.
Consumer loans at all commercial
ajudstment for the Sears' repayment. They
but a little less than usual. Real estate
city banks the increase was larger than in
banks increased slightly in August after
have also increased slightly since midyear
loans continued to expand in August; at
any other month since the spring upturn.
Deposit ratios. The ratio of total loans to total deposits at all commercial banks increased slightly in August to $4.9 per cent; in general, this ratio had
been declining since March. The ratio of D. S. Government securities maturing within one year to total deposits rose further in July (data for August not yet available)
to 12.2 per cent, higher than at any time since mid-1954.
Money supply. The daily average money supply, seasonally adjusted, was
unchanged between the second half of July and the second half of August. In recent
months, it has remained close to the level prevailing since early spring, following
rapid growth earlier in 1961. The money supply is now about 1-1/2 per cent above
the year-ago level. The end of month money supply series declined slightly in
August; it is about 2 per cent above last year's level.
Time deposits at all commercial banks, seasonally adjusted, continued to
increase substantially, $900 million further in August. These deposits have been
increasing at an annual rate of 14 per cent so far this year, about as sharply as
in the second half of i960 but slightly below the early 1958 rate.
Deposit turnover. The seasonally adjusted annual rate of demand deposit
turnover at banks outside New York and other financial centers increased from 26.2
in July to 26.7 in August. Since April, turnover has been averaging about 1-1/2
per cent above the comparable period last year. Earlier in the year, turnover had
been averaging about the same as last year.
Not for publication
•
•
®
•
- 3 Bank reserves. Average total reserves of member banks increased $160
million in August. Required reserves rose $140 million as increases in reserves
required against U. S. Government and time deposits were offset in part by reductions in reserves required against private demand deposits. Excess reserves increased slightly. Borrowings also rose slightly and average free reserves at $540
million were little changed from July. Free reserves by class of bank also averaged
about the same as in July.
Reserve positions showed considerable variation during the month, however.
They tightened in late July and early August, with free reserves averaging around
$400 million; subsequently during August they increased to over $550 million in the
second half of the month. The effective rate on Federal funds, which had increased
in late July, remained relatively high during the first half of August, often at
2-3/4 per cent. During the latter part of the month it declined, however, and eontinned relatively low into early September.
During August, on a daily average basis, reserves were absorbed principally through a reduction in Reserve Bank float and an increase in nonmember deposits
and other Federal Reserve accounts, reflecting in part interest receipts on System
held U. S. Government securities. Gold stock increased slightly further on a monthly
average basis; but there was a large decline in late August. Reserves were supplied
through a $390 million increase in System holdings of U. S. Government securities, in
part under repurchase agreements. Outright purchases of $315 million included some
longer term issues. Holdings of Governments increased substantially late in July
when required reserves increased in connection with Treasury financing; subsequently,
they declined but purchases were resumed again late in August.
Hot for publication
Banking Section,
Division of Research and Statistics,
Board of Governors of the Federal Reserve System.
September 14, 1961
o
L.U.3
=D
Table 1
Estimated Changes in Loans and Investments at All Commercial Banks
(In billions of dollars)
Item
Last Wednesday of July to last Wednesday of August
1957" I 136o I 1959 I 195W I 1957 I T 9 5 5
V
Total loans (less interbank)
Business (excluding nonbankfinancial
+0.2
or sales finance companies) 2/
+0.2
Nonbank financial
Sales finance companies
(Business (including nonbank finan(+0.it)
cial or sales finance companies))
*0,2
Real estate
==0.6
Security
Agricultural
-0.1
Consumer
5/
All other 2/
H,
V
U. S, Government securities
=0.5
Other securities
+0.2
Total (less bank)
Item
Total loans (less interbank)
business (excluding nonbank financial
or sales finance companies) 2/
Nonbank financial
~
Sales finance companies
(Business (including nonbank financial or sales finance companies))
Real estate
Security
Agricultural
Consumer
All other 2/
+0,6 5/ +l.ii
jk2
V
+o.U
+0oi|
y
(-0.2) (+0.8)
+0.1
+0.2
+0.3
+0.1
ro
+o.5
+o.5
+0oii
+0.3
+o.5
0 ol
if $
3/
+0.1
(+0 1) (+0.3) (+0.6)
+0.2
-0.9
+0.1
+0.1
+0.2
+0.1
-0.1
-0.3
—0.2
+0.3
+3 a
+0.1
+0.1
1/
-0.1 6/ -0.8
+2.0
-0.1
+1.0
-0.1
+0.3
+0.1
+0.1
+0.L 6/ +0.1i
+2.1
+0.5
+1.5
+0.1
+0.2
V
+0.2
Last Wfitiiiflsday Q f July o last Wednesday of August
1952
1951
1950
1251
125k 1211
+0.8
+6.5
+^3
-0.7
I
(+0.8)
+0.3
-0.3
-0.3
+0.2
+0.3
-1.3
+0.1
+0.2
+0.3
+0.5
+1.2
+0.3
+0.ii
n o 3,0
3/
n 9 3,0
n » 8Lo
J{l
%
w
n e 3. e
(+0.2) (+0oli) (+0.5) (+1.0)
+0.1
+0.2
+0.1 +0.3
=0.2
-O.lj.,
—0.3
—0.5
+0.1
+0.1 +0.1
2/
+0.1
+0.2
+0.3
1/
-0.1 -0.2
+0.1
+0.1
U. S. Government securities
-1.2
+3.0
-0.6
-0.9
+o.l
—0.8
Other securities
+0,2
1/
+0.2
+0.3
-0.1
+0.8
+0.1*
=0.2
Total (less bank)
=0.3
+2.3
+0.9
-O.ll
1/ Less than $50 million, n.a.—Not availablei 2/ Data are on revised basis
beginning June 1959 and exclude loans to nonbank financial institutions. For previous
years, loans to sales finance companies at weekly reporting banks have been shown
separately to provide roughly comparable changes in business loans on revised basis.
3/ Included in business and "all other." h/ Included with nonbank financial.
|J Includes about #100 million repayment on Sears' transaction, 6/ Total credit
increased about $300 million as a result of bank structure changes5 loans increased
$200 million and U, S„ Government securities about $100 million.
about
~5L.U.3
Table 1
Estimated Changes in Loans and Investments at All Commercial Banks
(In billions of dollars)
Item
Total loans (less inteitank)
Business (excluding nonbank financial
or sales finance companies) 2/
Nonbank financial
Sales finance companies
(Business (including nonbank financial or sales finance companies))
Real estate
Security
Agricultural
Consumer
All other 2/
&id of June to last WWednesday of August
1961 71/ 1960 IV 1959 TV 195ti 7p 1957 7k
=0.3
-0.1
-0.7
-0.3
V
6/ +2.5
-1.5
+0»li
-0.L
•V
-5.1
+0.7
3/
+0.1
-0.5
+0.1;
-0.3
&
=0*1
(=0o3) (—li 0) (+i.i) (=0.5) (—0.6) (+0.3)
+0*ii
+0< 1
+0.4
+o.L
+0,2
+0.3
+0, 3
-0.3
+0.1
—1,8
-0.1
-O.li
+0, 2
' -0.2
+0,1
-0.2 -0.3
+0< 2
5/-0e1
+0.6 +0.2 +0.2 +0.2
+0.2
+0.1
1/
—0.1
V
" 1/
•K
U. S. Government securities
+2.3
+2.it y -0.6
+1.5
+0.7
+0.6
Other securities
+0,1
+0.1
-0.1
+0.2
+0.1
—0.1
+2.5
+2.3
6/+l«9.
+p,%
+0.1
+0.5-
Total (less bank)
Item
Total loans (less interbank)
Business (excluding nonbank financial
or sales finance companies) 2/
Nonbank financial
™*
Sales finance companies
(Business (including nonbank financial or sales finance companies))
Real estate
Security
Agricultural
Consumer
All other 2/
End of June to last Wednesday of August
•i 9$i
195h
1953
+i.ii
—1.3
+0.5
+o,5
+0,8
-0.2
3/
-0,1
+0.3
+0,3
iz
Hi
(-0.3)
+0oii
-0.1
-1.3
(+0.3)
+0.2
1/
+0.2
+0,2
-0,1
w
+0.2
(+1,0)
+o,5
• =0.3
-0,5
+0„li
+0.2
Mi
-0,1
ri © 2t<>
2/
n 0 3l«
+2.2
n.a.
3/
n«si®
(+0,2)
+0,2
-O.li
+0.2
+0.3
-0.1
(+0.2)
+0.2
(+1,10
+0.2
-0.1
+0,6
U. S* Government securities
—0.8
+3.8
+
+0,8
Other securities
+0.1
+0,8
+0.2
+2.7
+0.2
+1.7
+0,it
+1,7
h«0
19%)
1952
—o.U
+0.5
-0.2
+0.5
+0.2
-1,6
+0.6
+1.2
+0,5
Total (less bank)
1/ Less than $50 million, n.a.—Not available. 2/ Data are on revised basis
eginning June 1959 and exclude loans to nonbank financial institutions. For previous
bet
years, loans to sales finance companies at weekly reporting banks have been shown
separately, to provide roughly comparable changes in business loans on revised basis.
3/ Included in business and "all other." h/ Included with nonbank financial.
%j Includes about $200 million repayment on Sears transaction, 6/ Total credit
Increased about #300 million as a result of bank structure changesj loans increased
about $200 million and U. S„ Government securities about #100 million. lj Data are
for last Wednesday of June
- 6 -
L.U.3
Table 1
Estimated Changes in Loans and Investments at All Commercial Banks
(In billions of dollars)
Item
w
End of December to last Wednesday of August
"1930
19^9
"1955"
" W
+2.5 6/+7.8
Total loans (less interbank)
7/-0.8
Business (excluding noribankfinancial
+1.0
+2.2
or sales finance companies)
-0.7
Nonbank financial
-1.2
-0o 3 8/+0.7
Sales finance companies
y
V/+0.3
(Business (including nonbank financial or sales finance companies))
(-1.9) (+0.7) (+3.2)
Real estate
+0.9
+o.L +2.0
Security
—0.6
-0.8 —0.5
Agricultural
• +0.1 +0.6
+0.1
Consumer
5/+0.6
+1.2
+2.2
All other 2/
7/+0.1
+0.1i
+0.9
y
-1.1
+1.9
+lt«3
-1.3
+1.1
+3.6
-0:9
+0:1
-Oli
(—2.2) (+1.2)
+1.0
+0.3
-0.6
—0.5
+0.5
-0.it
+0.1
+1.0
+0.1
+0.2
(+3.2)
+1.3
-1.0
-0.5
+1.2
+0.2
U. S. Government securities
+3.3
-2.3
6/—6.1
+7.9
- 2 oh
-iioii
Other securities
+1.7
-0.5
6/-0.1
+2.3
+0.6
-0.3
+0.1
-o.s
Total (less bank)
Item
Total loans (less inteibank)
Business (excluding nonbank financial
or sales finance companies) 2/
Nonbank financial
Sales finance companies
(Business (including noribank financial or sales finance companies))
Real estate
Security
Agricultural
Consumer
All other 2/
~Q°^ 6/+1.7
Knrt n Tlpnp^b^-r f.n last. TiJo^no^gy nf
19$
fig
-12511 1952
"
"M
+2.It
+5.8
—1.5
+1.1
+2.0
+2.2
-1.2
-0.1
-0.1
3/
—0.3
rioa©
3/
n.a.
(-O.li)
+0.7
(+2.0
+0.8
3/
+0:8
(+3.0)
+1.9
—0.3
-1.3
+1.6
+0.8
3/
-0:2
(-i.ii)
+0.9
-1:2
-0.1
+0.2
-0:1
(-0.2)
+0.7
-0.lt
+0.1
-0.7
+0.1
+1.1
V
+0~1
+i:(
+o.5
+0.1t
m
+lt.O
n.a.
3/
T1 • 3,o
(+1.2)
+1.U
1/
-0.3
+1.3
+0.it
U. S. Government securities
—6.5
+3.9
-0.7
+o.5
-2.9
—2.8
Other securities
+0.6
-0.1
+1.0
+o.h
+1.0
+1.1
+0.3
+1.6
+2.8
Total (less bank)
+3.1i
+3.5 —0.2
l/ Less than $50
.... million,- n.a.—Not available. 2/ Data are on revised basis
bet
beginning June 1959 and exclude loans to nonbank financial institutions. For previous
years, loans to sales finance companies at weekly reporting banks have been shown
separately to provide roughly comparable changes in business loans on revised basis.
3/ Included in business and "all other." k/ Included with nonbank financial.
5/
eludes about $300 million net increase due to Sears transaction. 6/ Total
credit increased about $1 billion as a result of bank structure changesj~~$600 million
in loansj 0300 million in U. S. Government securities; and $100 million in other
securities. 7/ Increase of #200 million due to reclassification of foreign official
loans into "other loans." 8/ July - August. 9/ January - June
- 7Table 2
L.U.3
Changes in Loans sad InvestBents at Weekly Reporting
Meifcer Baeaks and Noonreporteiag Bank?
(inbi'llions of dolled;
•
1961
Weekly reporting banks
•
Last Wednesday in July to last Wednesday in August
Item
I960
1959
1958
1957
1956
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
-0.3
—0*6
+0.2
•=377
TOT?
+0.8
-1.0
-0.1
^373
-0.2
+0.9
+0.2
+6.8
+0.3
+0.1
if
7531
+0.5 3/ +0.6
—0*2 3/ +0.2
2/ 3/ 2/
^71 3/
+0ol
+1.1
+0.1
+0.1
+0.1
+o.L
+0.L
+0.5
+0.1
1CT
+0.1
+0.2
+0.1
7§ni
1^3
-0.3
+0.1
Sonr@Bqi*ting banks 1/
#
Total loans
U, S. Government securities
Other securities
Total loans and investments
#
#
2/
Last Wednesday in July to last Wednesday in August
Item
Weekly reporting banks
+TI3
+o»5
1955
1951
1953
1951
1952
195b
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
+0.6
=1*2
+0.1
-0o3
+1.9
+0.2
—0.1|.
+1.1
2/
+5T7
2/
+0.1
-0.7
+0.1
-1.0
+0.1
+0.1
+0.1
+0.1
+0.3
+0.1
+0.2
4
+0.9
—0.6
+0.3
Nbnreporting banks 1/
#
£
Total loans
U. S. Government
Other securities
Total loans and investments
l/
~
2/
3/
"**
.2/
+5.1
^3
+o3
7o3
+0.1
+0.U
—0.1
+0.14
+0.3
—0.2
+0.1
?o3
Changes may not correspond exactly with published data for weekly reporting banks
because loans to foreign banks have been excluded from this tabulation.
Less than $50 million.
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 $100 million.
http://fraser.stlouisfed.org/
Not for publication
Federal Reserve Bank of St. Louis
n 8 B
L.U.3
Table 2
Change# in X<oans and Investaents at Weekly Reporting
Ms#er Bstfes and Hanreportinf
(in billions ©f dolliiyij
End of June to last Wednesday in August
Item
1961
Weekly reporting banks
I960
1959
1958
1957
1956
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
-0.6
+1.5
+0.3
-0.7
+2.0
+0.1
+T3
+1.8
-0.8
-0.1
+0.3
+0.8
+0.1
+T3
+0.6
+0.1)
2/
+ 0
3/ +0.7
V +0.2
-1.9
+0.3
+0.1
%
-0.5
2/
w
-5.1
1/
+0.1
+0.6
Nonr$soiiting banks 1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
+T7S
+5.7
+0.1
+ 0
^ 3
End of June to last Wednesday in August
Item
1955
Weekly reporting banks
3/ 2/
1 / T O
+0.1).
+1.2
+0.1
195h
1953
1952
1951
195b
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
+1.0
-lol
2/
-1.0
+2.1
+0.1
+13
+0.3
+2.8
+0.2
+O0I4
+0.3
+0.1
—0.3
+1. h
+0.1
+0.2
+1.2
-§{3
+0.3
-§{2
+0.1
+0,5
+1.1
+0.1
+TIS
—0.1
+0.8
-0.1
?0%
+1.7
-1.6
+0.5
Nonreporting banks 1/
Total loans
U. S. Government
Other securities
Total loans and investments
1/
TH2
+o.5
Changes may not correspond exactly with published data for weekly reporting banks
because loans to foreign banks have been excluded from this tabulation.
2/ Less than $50 million.
3/ Total credit at nonreporting banks increased about $300 million as a result of
=
bank structure changes5 loans increased about $200 million and U. So Government securities about $100 millione
# N o tforfor
publication
Digitized
FRASER
L.U.3
Table 2
Changes in $©ems and Inve«tM8nt8 at Weekly Reporting
Member Baak8 and Konrepo]1 *
( 6 b tliloms #f dell
End of December to last Wednesday of August
Item
1961
Weekly reporting banks
I960
1959
1958
1957
1956
1/
Total loans
U« S. Government securities
Other securities
Total loans'and investments
h/ -2.3
+2.9
+1.1
k/ 7TT7
-0.3
—0.3
-0.3
+lul
-5«!i
-0.2
-2.7
+6.5
+1.6
+0.2
-1.7
+0.1
+2.7
-3.5
-O.ii
+1.5
+0.it
+0.6
+2.8
-2.0
-0.2
wni
3/ +3.7
3/ -0.7
W
+o*i
{/ t E I
+1.6
+1.1*
+0.7
^77
+1.7
-0.7
+0.5
+TTS
+1,6
-0.9
+0,1
1
Nom*esorting banks 1/
Total loans
U, S. Government securities
Other securities
Total loans and investments
End of December to last Wednesday of August
Item
19#
Weeklyreportingbanks
195k
1953
1952
1951
1950
1/
Total loans
U. S. Government securities
Other securities
Total loans and investments
+3.7
-6.0
+0.1
-2.lt
+3.3
+0.8
+TT7
+0.1
—1.0
+0.2
^77
+0.1
2/
+0T8
+1.3
-2.7
+0.1
+2.It
-2 ell
+1.2
+ m
+2.1
—0.5
+0.5
W35
+0.9
+0.6
+0.2
TH7
+1.3
+0.3
+0.2
TC7
+1.6
+o.5
+0.3
+1.1
-0.2
+0.2
+TTT
+1.6
-0.1).
+o»U
+T77
Nonreporting banks 1/
Total loans
U. S. Government
Other securities
Total loans and investments
1/Changes may not correspond exactly with published data for weekly reporting banks
tJecause loans to foreign banks have been excluded from this tabulation. Also call report
data for weekly reporting banks for end of December 1959 and I960 have been used.
2/ Less than $50 million. 3/ As a result of bank structure changes, total credit
increased about $1 billion;$600 million in loans; $300 million in U. S. Government securities; and $100 million in other securities, k/ Credit expansion overstated by $200
million due to reclassification of foreign interbank loans into "other loans."
http://fraser.stlouisfed.org/
Not for publication
Federal Reserve Bank of St. Louis
L.U«3
= 10 =
Table 3
Changes in Commercial and Industrial Loans 1/
(In millions of dollars)
""
Business of Borrower
Last Wednesday in July to last Wednesday in August
1961
Food processors
Commodity dealers
Trade concerns
Total
Sales finance
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc.
Other manufacturing
and mining
Public utilities
Construction
All other types of
business
I960
+102
+ 83
- 32
+153
+105
+ 88
+258
y
y
1959 5/ 1958 5/ 1957 5/
+134
+ 93
+ 31
+258
y
1956
1955
19545/
+105
+125
+ 11
+241
+ 77
+156
+ 27
+260
+115
+108
+ 2
+225
+ 60
+ 29
+ 31
+120
+ 62
- 1
+ 61
+
8
+ 15
+137
+274
- 34
- 74
-112
- 69
-158
-201
-139
+ 33
-149
+ 75
-141
+ 89
= 11
+103
+ 39
+ 3
+ 23
+ 63
- 5
+ 48
+ 54
+ 78
+ 20
+ 46
+ 18
+ 19
= 92
+ 12
+ 24
-105
+ 20
+ 30
+ 32
+ 6
- 17
- 12
+ 35
+ 14
+ 16
+ 13
+ 60
+ 52
+ 19
+ 17
+ 4l
+ 2
- 13
+ 17
+118
+ 55
- 13
+ 71
+ 48
+ 86
+120
+ 24
Classified
Unclassified
+174
- 4l
+113
2/-126
+386
+ 19
+194
+ 20
+222
+ 7
+541
+705
+ 10 y - 60
- 29
V-697
Total change
+133
7J-
+405
+214
+228
+551
y+645
V-726
y+371
4/-692
Total change excluding
sales finance
13
am wmam
..
+133
U"
13
+405
+206
+213
+4l4
1/ Prior to week ending January 11, 1956, includes changes in agricultural loans.
2/ Not included in business loans on revised basis«
3/ Includes CCC certificates of interest which are estimated to have declined $200 million,
4/ Includes CCC certificates of interest which are estimated to have declined $435 million.
5/ In order to keep comparisons on a five-week basis the following dates were used; 1959»
July 29-Septo 2; 1958, July 23-Aug« 27; 1957» July 24-Augo 28; 1954, July 28-Sept. 1.
6/ At weekly reporting banks.
2/ Reduction of $40 million due to reclassification of loans into real estate loans*
Not for publication
L.lt.3
- 11 -
Table 3
Changes in Commercial and Industrial Loans 1/
(In millions of dollars)
~~
Business of Borrower
Food processors
Commodity dealers
Trade concerns
Total
Sales finance
Last Wednesday in <
June to last Wednesday in August
I960
1961
1959 3/ 1958
1957
1956
1955
1954
- 4
+139
+ 37
+172
- 2
+ 74
- 78.
- 6
- 5
+121
+ 19
+135
- 12
+118
+ 6
+112
- 12
+197
- 12
+173
+ 15
+249
- 2
+262
- 5
+ 95
+ 60
+150
- 19
+111
— 18
+ 74
2/
2/
+134
- 66
-276
- 67
+238
- 58
-316
-420
+ 34
-443
-367
-259
- 13
-232
+ 71
-191
+115
- 90
+l4o
+ 8
- 8
- 61
+ 70
- 28
+ 76
+118
+106
+ 38
+ 76
- 62
- 6
-142
+ 28
+ 31
-125
+ 25
+ 92
+ 8l
+ 9
- 17
-132
+ 37
+ 20
— 66
+ 14
+135
+ 24
+ 4
+ 46
+ 43
+ 37
- 11
-104
+ 35
+132
+ 6o
-128
+ 85
+ 43
+110
+185
- 26
Classified
Unclassified
-251
- 65
-4n
-266
+504
+ 15
-493
- 28
-4i6
- 98
+403
- 81
+830
4/-160
Total change
-316
-677
+519
-520
-514
+322
4/4670
-309
2/-803
y
hi, i n
Total change excluding
sales finance
-316
-677
+385
-454
-238 . +389
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc.
Other manufacturing
and mining
Public utilities
Construction
All other types of
business
1/
2/
3/
5/
5/
c/
4/4-432 rl,053
Prior to week ending January 11, 1956# includes changes in agricultural loans.
Not included in business loans on revised basis.
Includes changes on unrevised basis for week of July 1 and revised basis thereafter.
Includes CCC certificates of interest which are estimated to have declined $300 million.
Includes CCC certificates of interest which are estimated to have declined $475 million«
At weekly reporting banks.
Not for publication
12
L.lu3
Table 3
Changes in Commercial and Industrial Loans 1/ 7/
(In millions of dollars)
~~ ~
Business of Borrower
*
#
Food processors
Commodity dealers
Trade concerns
Total
Sales finance
Metals and products
Textiles, apparel
and leather
Petroleum, coal etc.
# Other manufacturing
and mining
Public utilities
Construction
All other types of
business
0
Classified
Unclassified
Total change
# Total change excluding
sales finance
Last Wednesday in December to last Wednesday in August
1961
I960
1959
1958
1957
1956
1955
1951*
-502
-186
-138
^2E
1/
-1*61*
—23U
+325
-373
-670
-165
-152
-1*67
-3l*l
- 14
%822
-287
-137
+169
-51*5
-365
+206
-52l*
-252
- 59
2/ 3/ +155
-920
+ 89
-388.
+827
-2 33
-561
—603
+291
%570
-1*16
+61*2
+878
-297
+568
+1,102
+163
-809
+218
-111
+388
-142
+353
-131*
+ 76
-201
+218
+262
+3lk
54-
+326
+351
+131
- 73
+21*3
-1*72
+ 81
+385
-173
+121
+292
*• 75
+111*
+11*1
-310
+ 9k
+231*
+1*1*6
+ 3
+505
+389
+ 58
+198
+1*27
+171
- 12
+ 22
+106
+539
+215
+
+153
- 11
+258
+328
+ 80
-711*
- 8
+566 +1,511 -2,250
- 61
+200
—208
+988 +2,526 +2,086 -1,623
+ 39 5/ -338 6/ -981*
-253
8/ -722
+505 +1,711 -2,158
+735 +2,565 ~+ls7li8|"-2,607
8/ -722
+505 +1,256 -1,538
+61*6 +2,953 5/ +921 -2,31k
2
V
1/ Prior to week ending January 11, 1956, includes changes in agricultural loans.
2/ Not included in business loans on revised basis»
\3l January - June
1*/ Revised basis after July 1
3/ Includes CCC certificates of interest which are estimated to have declined $820 million,
6/ Includes CCC certificates of interest which are estimated to have declined $1*10 million.
7/ At weekly reporting banks,
°B/ Business loans increased $1*00 million between December 28 and December 31; therefore
> Not for publipation
these changes are not comparable with those on Table I which
are from December 31«
13
L. k. 3
Table li
Estimated Changes in Deposits and Currency
(In billions of dollars)
Item
Seasonally adjusted data 1/
Demand deposit component
Currency component
Total
Seasonally adjusted data 2/
bemand deposits adjusted
Currency outside banks
Total
Seasonally unadjusted data 3/
-Demand deposits adjusted}
Currency outside banks
Total
Time deposits
Commercial banks
Mutual savings banks
U# S, Government deposit
Total
Factors affecting deposits and
currency
Bank loans and investments
other than U. S. Govt. ec. h/
Commercial
Mutual savings
Bank holdings of U. S. Govt,
securities:
Federal Reserve
Commercial
Mutual saving and otherGold stock and foreign
deposits at F. R. Banks
Other factors
1961
I960
1958
1959
1956
1957
Last half of July tto last half of August
i.
'•0.3
-0.2
+03
5/
.5/
-o.U
-0.1
-3T2
3/
5/
3/
•-0.TI
5/
—loll
-1.2
5/
3/
+0.1
-0.3
+ o
+0,1
+1.1 3 /
+T7f 1 /
+0.1
%o3
3/
+0.3
3/
+ 0
+0.6
—0.6
' 3/--
-0.1
+0,2
"0 e7
+0.f
=1„6
-0.6
,-1.5
-0.7
+0.1
+0„1
3/
+0.1
£
~0.t>
"=0^
""io a. 5 /
+0.9
+0.1
Wednesday of August
3/
3/
T T
+0.2
+0.1
Last, Wfirin«sriflv of Jul v to
—0*1
+0.7
—
+0.6
+0.1t
+0.2
w x
+0.3
+STF
+0.2
+0.2
+0.1
+0.1
+0.3
+0.2
+0.2
+0.7
+0.8
+5%
+0.2
-0.1
3/
-0.1
+0.l|.
•
™0o8
+0.9
+2.1
+0.7
+1.1
—0 «8
"66 b 5 / " ^ 3
+1.6
+TT5
(signs indicate effect on deposi'is and currency)
-0.2
+0.2
+C.1+
+0.2
+0.2
+1.3
'+T.T
+0.3
-0.2
"=+5T3
-0.5
+0.1
3/
-0.8
+2.1,
-0.1
3/
tb.8
a/
+2.0
+0.1
-0.2
-1.0
3/
—0 o 8
™0ol
-1.1
2/
-0.6
+0.2
•
.
•
u
3/
"b a 9
+1.2
+1.0
-0.1
™0*1
"0 » 3
17 Averages of daily figures.
Throughout; unadjusted data are for last Wednesday except in case of June and December
call dates, when available
3/ Less than $50 million, h/ 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 if there
were no changes in other iterns, changes at commercial banks exclude all interbank loans,
domestic and foreign, whil e total loans exclude only those to domestic banks. In
addition there is some lack of synchronization in reporting asset and liability items
used in computing "loans net." 5/ In August 1959., as a result of structure changes,
demand deposits adjusted increased.about $200 million and time deposits at commercial
banks
about $200 million.
Ik
L. U. 3
Table It
Estimated Changes in Deposits and Currency
(In billions of dollars)
Item
Seasonally adjusted data 1/
Demand deposit component
Currency component
Total
Seasonally adjusted data 2/
Demand deposits adjusted
Currency outside banks
Total
Seasonally unadjusted data 2/
Demand deposits adjusted "
Currency outside banks
Total
Tine 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. sec. k/
Commercial
~
Mutual savings
Bank holdings of U. S. Govt,
securities:
Federal Reserve
Commercial
Mutual saving and other
Gold stock and foreign
deposits at F. R. Banks
Other factors
1961
1960
1959
1958
1957
1956
Last half of «urie to last half of August
-0.1
IT
+0.5 5/ -0.2
-0.1
5/
3/
^53
+0.9
+0.1
+0.3
3/
Last. Wgrhnwwdav of Jiirm t.n ast Wednesday of August 6/
+0.1
•2L
+0oii
+0.2
2/
H
+0.8
+0.2
+176'
*2.0
+1.1 1 /
+0.2
+13
+1.7
+T3
+0.-2
+1.1
—Co 7
-0.7
="0*1.
+0.1*
+0.2
+1.8
w
0o5
3/
"0 ©&
-0.8
+0.1
+1.1
+TTI
+0.3
-4 = 0
+0.7
^ 7
+0.3
^ 3
-0.3
+0.2
!/
'
I
+0.2
-1.6
+CT 5/
+0.1
+1.3
?Y3
+0.5
tOol+0.6
-0.3
1/
+ M
+2.8
+2 06
+0elt
+2.8
+o.5
+2.3
•n
+2.9
+2. It
-0.1
-0.6
-0ol
+1.5
+0.2
-0.1
"0.6
»0o2
-1.3
-0.1
-0.8
-0.3
-1=0
+0.3
-0.3
+27E ,
+0.1
+0.1
(signs indicate effect on deposits and™currency)
-1.1
-1.3
+0.5
-0.1
—O.it
+0.3
+1. e 8
+1.1
+0.5
+0.7
—0.1
+0.1
t
+0.1i
%o3
+0.6
3/
-1.0
V
Averages of daily figures.
2/ Seasonally adjusted data are for last Wednesday
~
throughout; unadjusted data are for last Wednesday except in case of June and December
call dates, when available. 3/ Less than $50 million, k/ Total includes foreign
loans on gold, holdings of bankers' acceptances at the Federal Reserve, and loans to
foreign banks; changes in these items are generally relatively small. Even if there
were no changes in other items, changes at commercial banks exclude all interbank loans,
domestic and foreign, while total loans exclude only those to domestic banks. In
addition there is some lack of synchronization in reporting asset and liability items
used in computing "loans net."
In August 1959$ as a result of structure changes5
demand deposits adjusted increased about $200 million and time deposits at commercial
banks about $200 million. 6/ Except for 1956 which is for June 30.
- 15 -
L. it. 3
Table k
Estimated Changes in Deposits and Currency
(in billions of dollars)
Item
Seasonally adjusted data 1/
Demand deposit component
Currency component
Total
Seasonally adjusted data 2/
Demand deposits adjusted
Currency outside banks
Total
Seasonally unadjusted data 2/
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. sec. h/
—
Commercial
Mutual savings
Bank holdings of U. S. Govt,
securities:
Federal Reserve
Commercial
Mutual saving and other
Gold stock and foreign
deposits at F. R. Banks
Other factors
1961
1959
I960
1958
195*6
Last half of December to last half of August
+l«it
—lo6
-0.1
y
=T77 v
+1.3
+3.1
TT7?
TX3
+0.1
+0.2
1957
£
+0o6
+0.2
Aid of December to last Wednesday of August
+2.1
+0.1
-3*5
-0.9
+10.1
+k.3
-0.5
-1.7 y
+0.1
+1.9
+0.2
^T75 5/ +S7T
—6*5
-0.9
=7%
+3.5
+3.0
+0.7
+0.&
y
-b'h
-0.2
5/^13
V +2.9
1/^3
+0.7
+1.6
+3.1
-0.1
3/
S i
-2.8
-0.3
^71
+7.9
+l.li
-6.3
-0.5
0.8
+it.9
+2.5
5>eU
-wj.
+1.0
+o.U
+1,9
+3.7
+5.u
+1.5
+1.8
-it .3
+1.2
5/"TO
7T3.
(signs indicate"effect on deposits and currency)
+2.3
TT7U
+1.7
+l«5
+8.1
7777
+1,2
+3.0
+T72
+2.1
+3.3
3/
-2.7
tSTT
-2 .it
—0.5
-6.0
+372
—6.1
-0.1
+8.7
+17?)
+7.9
-0.1
-2.it
-0.3
-5*8
• n
~it.it
-0.3
-0.3
+0.1
-0.3
-3.0
-0.9
-l.it
-1.6
-3.7
+0.6
-1.5
+0.2
-1.7
+3.1
+2.it
throughout; unadjusted data are for last Wednesday except in case of June and December
call dates, when available. 3/ Less than $50 million. V 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 if there
were no changes in other items, changes at commercial banks exclude all interbank loans,
domestic and foreign, while total loans exclude only those to domestic banks. In
addition there is some lack of synchronization in reporting asset and liability items
used in computing "loans net." 5/ In January, April, and August 1959, as a result of
bank structure changes, demand deposits adjusted at commercial banks increased $i|00
Digitizedmillion,
for FRASER tine deposits at commercial banks, 5700 million, and time deposits at mutual
http://fraser.stlouisfed.org/
savings banks declined #300 million.
Federal Reserve Bank of St. Louis
L.U.3
«*• % 5 w
Table $
#
Ratios to Total Deposits
L O A N S
Date
1946
1947
%48
1949
1950
1951
1952
2953
<954
1955
1956
1957
1958
^959
I960
#
1961S
A
w
•
Dec.
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
31
All comMember banks'
mercial
Central
reserve
city ke serve
Total
Country
banks
"Hew York
Chicago
city
23.3
23.7
27.7
26.0
18.9
27.3
28.2
27.7
31.0
30.3
31.1
23.4
31.2
31.3
30.4
35-9
33.4
27.1
31.1
35.8
37.2
39.3
40.5
40.3
45.8
48.8
49.7
48.4
54.0
30.9
36.1
37-6
39.9
41.1
40.7
46.7
50.1
51.0
49.4
55.6
Apr. 2 7
May 2 5
June 29
July 27
Aug. 3 1
Sept.38
Oct. 2 6
Nov. 3 0
Dec. 3 1
56.2
56.8
57.1
56.2
56.6
56.3
55-3
55.4
55.1
57.7
58.3
. 58.5
57.5
58.0
57.6
56.7
Jan.
Mar.
Mar.
Apr.
May
June
July
Aug.
54.5
55.5
55.8
55.6
55-7
55.5
54.6
25P
IP
29P
26p
31p
28p
26p
30p
$h.9
\J
56.8
56.5
55.8
56.8
57.2
56.9
56.9
56 . 6
55.7
56.1
34.9
42.5
46.3
50.6
50.6
46.8
56.7
61.7
61.9
57-7
67.3
67.6
68.0
67.4
66.9
67.7
66..0
65..5
1/66..0
65..9
62.7
65.8
65.0
65.3
65.4
63.9
62.0
62,8
25.6
32.3
36.2
38.9
39.1
38.3
46.3
52.7
55.2
49.4
58.2
62.0
63.8
63.2
61.7
61.1
61.4
61.4
60.3
32.4
38.1
39.4
41.1
42.2
41.9
48.5
52.7
53.3
51.3
58.2
61.1
61.7
61.9
60.5
61.0
60.6
60.8
59.4
59.7
59.0
58.8
58.8
62.0
64.7
62.1
58.3
57.5
54.8
57.1
Y59-7
^60.2
59-5
59.3
58.9
58.0
58.6
28.5
31.5
32.1
33.9
36.1
37.1
40.7
42.6
44.1
44.4
48.2
50.6
51.4
51.7
51.1
51.6
51.5
50.6
1/ 50.4
50.3
50.1
50.5
5/51.0
51.0
51.6
51.8
U . S . Govt, securities maturing
within one year
"ATT
commercial
banks
14.3
14.0
14.2
1
19.2
15.2
9.8
11.7
16.9
10.0
5.1
7.5
8.4
8.3
6.7
4.9
4.4
4.1
5.2
5.4
6.4
7.7
8.1
8.1
8.5
8.9
8.1
9.3
9.8
10.8
12 „ 2
n. a.
Total loans (adjusted to exclude loans to "banks); U. S. Government securities maturing
within one year estimated on basis of Treasury survey of ownership: and total deposits
(adjusted to exclude cash items in process of collection).
2/ Prior to 1951» data are on call basis and beginning in 1951* they are on maturity basis.
A/
a call basis, data for 1951 and 1952 are 21.5 and 19.1 respectively.
m
Data not strictly comparable with previous figures as one large country-banfe-mergSl with
a central reserve city bank.
4/ Includes merger with nonmember.
5/ Reserve city banks reclassified to country banks, n.a. Not available.
L.U»3
- 17 -
Table 6
Free Reserves and Total Reserves Held
(Based on averages of daily figures; la millions of dollars)
Total reserves
Free reserves
held seasonally
(excess reserves minus borrowings)
adjusted 1/
mL
AJJL I central reserve cityReserve
"
All
~"
member | New York Chicago city Country
member
Date
Monthly averages;
1
1958: Dec.
19#: Dec.
- Ill
-1*25
- 80
-109
- 32
-102*
-197
-1*1*9
268
237
18,1*91*
18,51*0
1960s
Feb. Mar.
Apr.
Mky
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
-361
-219
-195
- 33
ia
120
21*7
1*13
1*89
61k
681
- 50
1
- 31
1*5
16
- 3
- 27
- 2
9
31*
10
-126
-152
-100
- 1*9
- 59
- 39
- 38
- 5
- 2
- 1*
"" il
-381
-252
-251*
-173
-120
-128
- 62
- 1*1*
- 2
38
80
197
182
190
11*1*
201*
290
375
1*61*
1*83
51*6
596
18,1*26
18,233
18,202
18,370
18,350
18,181
18,518
18,731
18,8^2
19.007
18,871*
1961:
Jan.
Feb.
Mar.
Apr.
May
June
July
August
695
517
1*76
562
1*53
519
530
538
26
26
9
60
- 22
1*0
7
7
mmtm
- 29
1
- 1*
5
5
1
89
10
35
39
18
66
56
1*7
583
510
1*31
1*67
1*51
1*38
1*67
1*83
19,01*8
19,175
19,175
18,979
18,989
19,099
19,025
19,21*3
July 26
600
62
5
115
1*17
n.a.
Aug.
2
9
16
23
30
1*01
1*35
513
559
565
- 20
2
- 18
2
11
-
5
3
5
2
15
11
33
71
55
1*06
1*25
530
1*81
1*98
n.a.
n . a.
n.a.
n.a.
n.a*
Sept. 6
173
52
-
1
100
321
n «a«
— —
Weekly averages:
1961:
NOTE: Data for late August and September are preliminary. 1/ Series revised, Revised
back data may be obtained from Banking Section*
seasonal factors and
http://fraser.stlouisfed.org/
Not
for
Federal Reserve
Bankpublication
of St. Louis
- 18 -
IaU.3
Table 7
Changes in Meniber Bank Reserves, with Relevant Factors
(Monthly average of daily figuresj in millions of dollars)
Item
August
1961
July - August
I960
1961
I960
January •
- August
1961
1960
Member bank reserves
Required reserves 1/
+137
- h9
+189
+133
+101
-189
+137
-19
+189
+133
+10i|
-I4.89
Excess reserves 1/
+ 2h
+ 32
-
+ 7k '
-163
+ 58
Total reserves held 1/
+161
- 17
+182
+207
" 59
- m
+ 8
+153
+ 80
- 97
+ 28
+1&
+ 97
+110
- 72
+ 13
+ 86
-517
+218
+ 37
+168
+369
- 22
Effect of change in
requirements
Effect of deposit change
Cash allowed as reserves 1/
Reserve balances
Total reserves held, seasonally
adjusted
Effect of above
factors on reserves
+
llil|.
(signs iindicate e:'feet on 1reserves)
Principal factors
Currency in circulation
Gold stock and foreign
accounts
Treasury operations
Federal Reserve float
Other factors
7
+ 17
+ 82
-323
-165
+ii5o
+683
+ 28
+ 62
-2l3
-116
-182
+ lli
-216
- 1;0
+ 6b
+131
-120
- 75
-272
+ 28
-265
+ 50
-370
+171
-520
+162
-271
+ 81
-529
+215
-252
-371
-323
-62h
-107
+179
+1*05
+276
+H77
+
73h
+121
-696
+390
+ii8o
+lo0
+ 80
- 5
+8 59
^ 0
-+20 9
+ 7
+167
+ 78
- 1
+36I1
+2li7
+117
+ 7
+ 10
- 20
- 53
^25
+172
- 25
+ 16
- 95
+
-
h
2
-132
- 20
- 6
-613
- 5
Federal Reserve loans and
investments:
Total
U. S. Govt, securities
Outright
Repurchase agreements
Acceptances
Discounts and advances:
To member banks
To others
2/ Computed on daily averages for December and August.
3/ Beginning February I960# data are on new basis excluding collected funds.
Digitized
FRASER
SNotforfor
publication
L«lt#3
Table 8
Liquid Assets Held by the Public — Seasonally Adjusted Series
(Amounts in billions of dollars; ratios expressed as percentages)
Demand
Personal-type savings
deposits Total
Total
Savings U. S.
adjusted personal- Time deposits
liquid
Govt,
and
adjust ed 1/
type
and
assets
savings
loan
currency . savings Commer- Mutual
(2+3+8)
shares bonds
cial savings
outside (L+S+6+7)
banks banks 2/
V
banks 1/
3/
1
6
7
5
3
h
2
End of
year or
month
1950
1951
1952
1953
1954
1955
1956
1957
1958
1959
1960
June
July
Aug.
Sept.
Oct.
Nov.
Dec.
1961
Jan.
Feb.
Mar.
Apr.
May
June
July
Ratio:
- Ratio:
Commercial Commercial
Total
Ue S. Govt
bank demand bank deposits
liquid
securities
and time de- + currency to assets to
maturing
posits adj.
gross
total liquid
within one
and currency
national
assets
year 5/
(2 + 1)
(9 + 1)
product 6/
: 11
10
8
9
271.8
284.0
296.2
3O8.3
318.0
330.3
339 0 9
351.7
368.9
388.7
114.6
120.2
124.1
126.6
130.0
133.5
134.5
133.6
138.8
140.2
129*0
132.7
140.6
148.6
158.1
166.4
174.1
182.8
196.7
204.4
36.3
37.8
40.6
43.6
46.8
48,5
50.7
56.4
63.4
66.2
23.O
23.6
25.2
26.7
28.5
30.0
31.6
33.0
3-5.1
35.9
14.0
16.1
19.2
22.8
27.2
32.0
37.0
41.7
47.7
54.3
55.7
55.2
55.6
55.5
55.6
55.9
54.8
51.7
50.5
48.0
28.2
31.1
31.5
33.1
29.9
30.4
31.3
35.3
33.4
44.1
150.9
158.0
164.7
170.2
176.8
182.0
185.2
190.0
202.2
206.4
55.5
55.6
55-6
55.2
55.6
55.1
54.5
54.0
54.8
53-1
89.1
83.3
82.2
85.1
85*3
80.7
78.8
79.3
79.4
79.5
388.7
388.8
390.3
392.7
394.0
393.7
396.0
138.0
138.6
138.6
138.5
139.9
138.8
139.2
207.7
209.2
211.0
212.6
214.2
216.0
217.7
66.8
67.5
68.6
69.3
70.0
71.1
71.7
36.1
36.4
36.4
36.6
36.8
36.9
37.1
57.7
58.3
59.1
59.7
60.5
61,1
61.8
47.1
47.0
46.9
47.0
46.9
46.9
47.1
43.0
41.0
40.7
41.6
39.9
38.9
39.1
204.8
206.1
207.2
207.8
209.9
209.9
210.9
52.7
53.0
53.1
52.9
53.3
53.3
53.3
76.8
140.7
398.1
400.8
139.4
140.4
403.9
406.8
141.5
408.0 2/140.8
141.0
tof .°3 iia.6
219.3
221.4
222.7
224.0
227.4
228.9
231.1
72.2
73.7 *
74.1
74.8
#77.3
77.9
79.0
37.3
37.3
37.5
37.6
37.7
37.9
38.3
62.6
63.2
63.9
64.5
65.2
65.9
66.S
47.2
47.2
47.2
47.1
47.2
47.2
U7.3
38.1
40.0
40.8
41.3
39.8
42.7
ii2»6
212.9
213.1
214.5
216.3
218.1
218.9
220.6
53.5
53.2
53.1
53.2
53.5
53.1
77.2
78.1
79.8
79,0
For footnotes see other side.
•
•
•
#
•
#
#
Preliminary.
Datg. for demand and time deposits adjusted and currency outside banks are as of last Wednesday of month,
except that time deposits are as of June 30 and December 31 when call data for these dates were available.
Includes savings deposits in 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 all types of savings bonds held by investors other than banks and U. S. Government agencies and
trust funds.
Beginning May 1955 includes all marketable securities maturing within one year (adjusted to include
partially tax exempt securities 12 months prior to first call date) and, prior to 1956, nonmarketable
Treasury savings notes with maturities up to 24 months; figures include holdings of insurance companies,
brokers and dealers, State and local governments, nonbank corporation?, corporate pension funds, nonprofit institutions, foreign accounts, and individuals; prior to May 1955 includes securities callable
within one year.
Gross national product estimates are available quarterly and annually Anly. For 1950-58 ratios are for
last quarter of year; for 1959 and I960, for each quarter of year. Data for total liquid assets used in
computing these ratios are quarterly average for four dates: each month of the current quarter and the
last month of the preceding quarter.
Demand deposits adjusted (before seasonal adjustment) was increased by $400 million and time deposits
adjusted (before seasonal adjustment) was increased by $1.5 billion due to the reclassification of
deposits of foreign official institutions which formerly were grouped with interbank deposits and
excluded from demand and time deposits adjusted.
L.U.3.
Table 9
Demand Deposits, Currency, and Related Items
(Averages of daily figures. In billions of dollars)
(2)
(2)
(2)
(2)
(2)
(2)
Related deposits-all commercial banks
Money Supp'JLy
Without seasonal adjustment
Seasonally ad;usted
Gross
demand
CurU. S. Govt, demand
rency deposits
time
Total
1*.6
101* 06
1*8.7
132.0
27.1*
106.9
50.1
27.8
13L.7
3.5
108.3
136.6
28.3
52.0
3.5
28.3 , 107.2 '
135.5
57.3
3.7
l*.o
11*0.9 28.6
112.3
65.3
!?.2
11*1.5 | 28.9 ; 112.6 ,
67.2
(1)
2)
CD
(2)
(1)
(2)
CD
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2)
(1)
(2) p
110.6
139.6 ; 28.9
29.0
!
110.7
139.7
110.7
29.0
139.7
28.8 ' 111.0
139.8
29.0
111.3
H0.3
11*0.5 28.9 ; 111.6
11*0.0 29.0
111.0
11*1,2 , 29.0
112.2
111.6
11*0.6 29.0
110.9
29.0
139.9
111.1*
11*0.3 28.9
11*0.5 29.0
111.5
11*0.2 28.9
111.3
112.0
11*1.0 29.0
112.1*
28.9
11*1.3
112.1
11*1.1 28.9
112.1
11(1.1 29.0
11*2.0 29.0
113.0
112.8
11*1.8 29.0
11*2.2 29.0
113.2
11*2.0 29.0
113.0
113.0
, 11*1.9 28.9
11*2.1* 28.9
113.5
11*1.9 29.0
112.9
11*2.1 29,0
113.1
112.9
29 0
lul« 9
11*1.9 29,0
112.9
11*1.9 29.0
112.9
Period
1951*—Dec.
19#—Dec.
1956—Dec.
1957—Dec.
1958—Dec.
#L959—Dec.
I960—July
Aug.
#
Sept.
Oct.
Nov.
#
Dec.
I96I—Jan.
Feb,
•
March
April
May
#
June
July
August
69.3
69.7
70.0
70.7
71.0
71.3'
71.7
72.0
72.1
71.9
72.2
72.8
73.5
73.9
71.9
75.2
75.7
76.1
76.7
77.1
77.8
78.3
78.8
79.2
79.7
80.1
80.5
80.8
1
6.5
6.8
6.1
6.0
l*.l*
6.3
5.9
5.1*
5.8
5.8
l*el
5.2
1*.7
3.5
1*.0
5.7
1*.6
1*.9
3.1*
2.3
3.9
5.3
3.3
5.8
1*.8
3.9
5.1
li.5
NOTE—Demand deposits are those other than domestic commercial interbank and
U. S. Government, less cash items reported as in process of collection and
Federal Reserve float. Currency is that outside the Treasury, the Federal
Reserve, and the vaults of all commercial banks,
- 21 -
Table 10
Deposits and Currency
(In billions of dollars)
LoU.3
(10)
(7) (8)
00
eason
Time deposits
adjusted
u. s.
Demand
money
Govt.
Cur- supply and deposits
Demand rency
Total Commer- Mutual Postal deposits
Total deposits
time dep. adjusted (7+8+9) cial
savings savings
1/
outside at comm.
(2+3)
adjusted banks
banks(1+7)
(1)
(2)
(31
Seasonally adjustec
money supply 1/
Year
or
month
End of Dec.
1954
1955
1956
1957
1958
1959 1/
130,0
133.5
134.5
133.6
138.8
140.2
I960:
June 29
July 27
Aug. 31
Sept.28
Oct. 26
Nov. 30
Dec. 31
1961:
Jan. 25p
Mar. lp
Mar. 29p
Apr. 26p
May 31p
June 28p
July 26p
138.0
138.6
138.6
138.5
139.9
138.8
139.2
140.7
139.4
140.4
141.5
4/140.8 4/
141.0
141.6
103.1
106.1
107.1
105.8
110.7
112.0
109.9
110.3
110.3
110.3
111.5
110.6
111.0
112.3
110.9
112.1
113.3
112.3
112.7
113.2
26.9
27.4
27.4
27.8
28.1
28.2
176.8
181.9
185.1
189.7
202.0
206.1
106.6
109.9
111.4
110.3
115.5
115-4
107.8
110.1
108.9
247.7
249.6
248.8
251.8
254.O
253.5
259.6
0.8
4.1
6.5
4.9
2.8
5.5
6.5
6.4
35.4
35-5
35.6
35.8
35.9
35.9
36.3
36.5
36.6
37.0
36.9
37.0
37.3
37.5
103.6
208.8
210.6
109.3
112.2
111.9
115.1
28.4
28.5
28.3
28.2
28.5
28.3
28.4
212.4
212.7
214.6
216.5
114.7
110.6
110.3
113.6
109.0
110.8
116.6
104.2
105.3
106.0
106.7
106.7
108.5
67.4
67.9
68.9
69.4
70.0
70.0
71.4
110.7
111.9
112.7
h/ 110.6 4/lis 6
71.7
73-3
74 2
75 0
4/77.8
117.7
79.5
113.0
28.3
: 28.4
28.5
28.3
28.3
28.7
29.4
1.3
205.4
206.5
207.5
207.9
209.9
221.1
7.8
7.0
6.2
8.2
6.7
6.1
6.7
31.7
34.0
34.9
28.1
28.3
28.3
28.2
28.4
28.2
28.2
4/ 218.6
219.6
0.8
0.8
0.8
89.1
98.3
56.1
63.2
65.9
101.8
78.6
+11)
214.8
221.0
226.4
232.3
247* 5
252.4
26.3
28.1
30.0
Total
Curand
rency
outside currency
banks (5+6+10
27.9
28.3
28.3
28.3
28.7
29.4
46.8
48.4
50.6
(12)
5.1
4.4
4.5
4.7
4.9
5.8
2.1
75.3
78.4
82.2
(H)
1.9
1.6
1.1
0.9
0.8
0.8
0.8
0.8
0.7
0c
0«
0,
0,
0,
28.0
255.7
256.0
28.2
28.0
255.1
257.0
27.9
28.4 4/ 260.1
262.2
28.3
265.6
28.5
26L.I
0.7
20.5
118,6 80,3
37.6
6,2
111.6
221.7
28.3
litl.it 113.1
Aug. 30p
p Preliminary. 1/ Seasonally adjusted series begins in l ^ b and is avanaoie oniy xor
^ """T;
2/ At commercial, savings and Federal Reserve Banks.
Demand deposits were reduced about $400 million as a result
of a technical change under Regulation D amending the definition of such deposits. On balance in 1959, as a result
of structure changes, demand deposits adjusted increased $400 million, time deposits at commercial banks increased
$700 million, and time deposits at mutual savings banks declined $300 million. 4/ Demand deposits adjusted increased $400 million and time deposits at commercial banks increased $1.5 billion due to the reclassification of
deposits of foreign central banks.
L.U.3
Table 11
Loans and Investments at All Commercial Banks
(in billions of dollars)
Date
1954:
1955:
1956:
1957:
1953:
1959:
Dec#
Dec*
Dec*
Dec.
Dec*
June
June
Bee*
31
31
31
31
31
(old)
(new)
31 2/
I960: May 25
June 29
July 27
Aug* 31
Sept.28
Oct* 26
Nov* 30
Dec* 31
Loans
and
investments
155.7
160*3
1&U.5
169*3
l8U*U
181**2
18U.2
189.5
185*9
186.7
188.6
189.0
191.lt
193.8
193.9
198*5
U. S.
Other
Govt, securTotal Busisecurness
ities loans
ities
11
UJ7 »V 16*3
?0*Uj ( 2 6 . 9
02 *0 33.2
61*6 16*7
89.7 38*7
58*6 16*3
93.2 4 0 . 5
58.2 1 7 . 9
/z 1
20.0
OU.4
97*5 ltO.lt
1 0 2 . 1• 1 2 . 5
6 0 . 9 20.6
102. i 3 7 . 8
60.9 2 0 . 6
1 1+0.2
110.1
58.9 2 0 . 5
55.1
51u2
56.7
19.8
19.9
20.0
56.6 20.0
57.7 20.2
60. J* 20.U
60.2
20.3
61.0 20.9
110.! i a . 3
112,( . i i i . 9
i n * : »U1.2
112*1 : U1.2
113*1 : l t i . 8
113.1 1 i a . 8
U 3 . 1 . U2.3
116.' • U 3 . i
Nonbank
financial All
Con- instituSecur- Farm
Real 1
other
sumer
estate ity
tions
,
|
5.6
— — •
10*9
5.2
18*4 |U*5
6.5
20.8
5.0
4.5 1 3 . 2
6.9
1U.6
4.2
22*5 U . 3
—M. •
7.2
15.8
U.l
2 3 . 1 14.2
.
/
8.2
5.0 1 5 . 9
25*3
U.7
8.8
—
5.0
17.5
26.9
4.1
7.6
5.9
5.0
17.5
U.1
26.9
8.1
18.8
7.1
28*1
5.0
ii.9
!,,
28.3
28.U
28.li
28*5
28.6
28.7
28.7
28.7
3.7
3.8
3.8
U.1
U.U
U.2
U.o
5.1
5.3
*.U
5.5
5*6
5.6
5.7
5.7
: 5.7
19.5
19.8
19.9
20*0
20*1
20.1
20.1
6.7
7.1
7.0
6.8
6/7
6.2
6.1
7.1
8.U
8.5
8*3
8.5
8*6
8.5
8.8
9.2
8.9
6*1
112. i1 ia.5 28.7
U.2
5*9 2 0 . 0
61*9 20.9
195.6
8.8
6
.
2
6.0
20*8
It *5
28*7
l l U . 4 . ia.8
61.3 21.3
197.0
Mar* 1
8.5
6.0
20.7
w
28.8
1U.0
m . : : 42*8
195.6
Mar* 29 p
59.7 21.7
3.8
5.8
2
0
.
6
:
6.1
28.8
U.7
11U.'' li2.il
60.7 2 1 . 8
197.2
Apr. 26 p
6.0
2
/
9
.2
6
.
0
20.7
115.!: 2I1.2 29,0 U.8
61*5 2 1 . 9
2/198*9
May 31 p
"
9
.3
2
0
.
8
6
.
0
5.9
~ 200*3 1 62.0 22.2 116.;! 1+2 *7 29.2 r U.8
June 28 p
9
.
3
20.7r
5.7
5.9
115.!> 42.2 29.Ur 5 . 1
6U.8 22.b
203.1
July 26 p
5.9
9
.
3
20.7
>
li2.li
5«8
29.6
U.5
115.5
202.8 ' 6 1 . 3 22.6
August 30 o
p«.Pr»p>iimi nary. 1/" stwictnre changes in 1959, on balance through August« added almost #1 billion to total
credit; $600 million in loans 3 $300 million in U.S. Government securities j and $100 million in other
securities * Real estate loans increased about $300 millions business loans $100 million; consumer loans,
$100 million; and other loans $100 million. gZ Increase of $200 million due to reclassification of
foreign interbank loans into other loans. Total loans are also affected by this same amount*
NOTE: Data exclude interbank loans. Total loans are after- anc iypes of loans before deductions for
valuation reserves* Consumer and "other loans" are partly estimated for all dates. Other data are
partly estimated on
but June and December call dates. Beginning June 2h$ 1959# "business loans" and
"all other loans" have been revised to exclude loans to nonbank financial institutions. Loan detail revised
http://fraser.stlouisfed.org/
oi^basis of p^liminary m^yber bank J^te 30 call.^
^
^
^
0
1961: Jan. 25
Federal Reserve Bank of St. Louis
@FedFRASER