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t 4 ' 3 fitoe?4t ^ .Not for publicaCfofc'Ai M<; .« ^ ^NfC ij;3 C CITY c- * is;:4 September 16, 1964. BANKIN6 AN®7M0NETARY DEVELOPMENTS IN AUGUST 1964 After a moderate decline in July, seasonally adjusted loans and investments at all commercial banks rose sharply in August. The major element in this reversal was the large rise in holdings of U. S» Government securities but loans and holdings of municipal and agency issues also rose substantially. Seasonally adjusted money supply again moved upward although less rapidly than in the two preceding months. Averag free reserves declined. Both borrowings and excess reserves were higher than in other recent months. Seasonally adjusted total reserves increased . Bank credit. Loans and investments at all commercial banks, seasonally adjusted, rose $4.2 billion in August after a $900 million decline in July <, The two-month combined increase of $3.3 billion brings the annual rate of growth thus far this year to 7.2 per cent, slightly above the 7.0 per cent rate prevailing through June of this year but below the 8.6 per cent rate in the last five months of 1963. Holdings of U. S. Government securities increased $1.7 billion in August follow ing an almost equal decrease in July. The decline and subsequent rise in holdings of Governments reflect the unusual summer pattern of Treasury financing operations: the customary July financing was omitted and borrowing was scheduled in August, usually a month with limited financing. Banks reduced their holdings of Governments during the July advance refunding, and in the absence of a July financing, could not make secondary distribution sales of Governments in August as in most other recent years. On the other hand, banks were active participants in the two August financings. Of the $1 billion of Treasury bills delivered on August 4, commercial banks were allotted $600 million, somewhat more than in similar financings in past months. They also received about $1.2 billion of the $4 billion 3-7/8 per cent 18-month notes delivered on August 17, approximately $400 million more than their holdings of the maturing issues. Holdings in August, whereas of growth, 9.0 per rise over the year of other securities, municipal and agency issues, also rose sharply they had shown little increase in July0 However, the annual rate cent through August, is substantially lower than the 19.8 per cent 1963. Seasonally adjusted total loans at commercial banks increased $1.8 billion in August, more than the average thus far this year. Excluding security loans, however, the annual growth rate of 11.9 per cent for July and August combined is only slightly above that for the first half of 1964 and that for all of 1963= Business loans, seasonally adjusted, expanded $500 million in August, the average increase since the acceleration beginning in Aprilc Although growth in business loans so far this year has been larger than in the corresponding months of 1963, it is still less than in the later months of that year. The continued strength in business loan demand at weekly reporting banks in August stemmed mainly from loans to metals, other mining and manufacturing, and construction concerns. Loans to the textile and apparel group, where cash flows recently were boosted substantially by equalization payments under this year's cotton legislation, have increased less than seasonally. Expansion in consumer and real estate loans at all commercial banks continued at about the same pace that has prevailed all year and slightly below that of 1963. A small expansion in loans to finance companies in August offset part of the July decline in this category. Deposits and turnover. Seasonally adjusted money supply rose $500 million in August, less than half as much as in June and July. However, the increase is somewhat larger than those in the early months of 1964. The annual rate of growth through August remained at 3«9 per cent, the level reached in July, th S. Government deposits declined slightly more in August than in most past years. 1 Time and savings deposits grew $1.2 billion in August, the largest increase since February. Through August, the annual rate of growth has been 11.1 per cent, 3.6 per cent less than in 1963. € Over the four weeks ending August 26, savings deposits at city banks expanded more than in the comparable 1963 period whereas in most previous months of 1964 they had increased less. This growth may reflect some transfers into savings deposits from the € maturing "Magic 5 1 s» M On the other hand, the increase in time deposits other than savings deposits was only one-fourth that in the 1963 period. Last year, these deposits (particularly certificates of deposit) increased sharply after interest rates paid on time deposits were raised in mid-July. Cumulative growth in total time and savings deposits at weekly reporting banks for the first eight months of 1964 is only sixsevenths of that in the comparable 1963 period. ' Demand deposit turnover at 343 centers outside New York fell to 35.1 (preliminary) in August from 35.5 in July. The annual rate of growth through August 1964 is 5.3 per cent as compared with 8.3 per cent over the year 1963. Bank reserves. Free reserves of all member banks averaged $77 million in ^ August, below the $123 million average of the first seven months of 1964. Member bank borrowings rose to $334 million, considerably above prevailing levels, and excess reserves also rose to a level higher than the average of other recent months. The effective rate on Federal funds remained at 3.50 per cent throughout the month with some trading below that rate on only four days. Reserves were supplied through System purchases of U. S. Government securities and were absorbed through a reduction in float and an in* crease in Treasury deposits at Reserve Banks, as well as currency outflow. Revised seasonally adjusted reserve data. On Exhibit J of this release, revised seasonally adjusted data for total reserves are given. Seasonally adjusted nonborrowed and total required reserves have also been revised. These revised data, from 1955 to date, and their seasonal factors are available from the Banking Section upon request. Banking Section, Division of Research and Statistics, Board of Governors of the Federal Reserve System. September 16, 1964. ^ 1.4.3 - EXHIBIT A, Port 1 L O A N S A N D I N V E S T M E N T S AT ALL C O M M E R C I A L B A N K S 195 9 1141 Hi) mi Exhibit A - Part II 1110 Total 1/ Date (I n mi Other U. S. Gov't. securities securities b i 1 1 i 0 n s of d o l l a r s ) Loans 1/ 2/ 194.5 209.8 22 b. 3 113.8 120.5 133.9 59.9 65.4 65.2 20.8 23.9 29.2 29 31 28 25 30 27 31 2/ 238.4 238.0 239.2 241.5 241.2 244.2 246.5 141.7 142.6 143.6 145.4 146.1 148.4 149.4 64.4 62.6 62.0 62.2 60.8 61.4 62.1 32.3 32.8 33.6 33.9 34.3 34.4 35.0 29 26 25 29 27 30 29 26 p p p p p p2/ p p 246.7 248.4 251.4 251.8 253.5 255.1 254.2 258.4 151.0 151.8 153.9 155.4 157.3 158.9 159.5 161.3 60.8 61.2 62.1 60.8 60.3 59.9 58.3 60.0 34.9 35.4 35.4 35.6 35.9 36.3 36.4 37.1 I960—Dec. 1961—Dec. 1962—Dec. 31 31 31 1963—June July Aug. Sept. Oct. Nov. Dec. 1964—Jan. Feb. Mar. Apr. May June July Aug. 1/ 11*4 Adjusted to exclude interbank loans, as of December 31 or June 30. 2/ Estimated 1.4.3. - fXH1BIT B,J>art I L O A N S AT ALL C O M M E R C I A L B A N K S Billions of doll o n BUSINESS REAL ESTATE CONSUME B| SECURITY 1963 1942 1959 1 1958 Exhibit B - Part II Business Date (In Real estate b i 1 1 i o n s Consumer of Security d o 1 1 a r s) 1960--Dec. 31 1961—Dec. 31 1962—Dec. 31 1/ 42.1 44.1 47.9 28.7 30.3 34.2 20.5 21.3 23.6 4.3 5.2 6.1 1963—June 29 July 31 Aug. 28 Sept.25 Oct. 30 Nov. 27 Dec. 31 1/ 49.5 49.3 49.5 50.0 50.7 51.5 52.4 36.7 37.3 37.8 38.1 38.4 38.9 39.1 25.4 25.5 25.7 25.8 26.1 26.4 26.6 6.9 6.4 6.3 7.2 6.5 7.3 6.6 1964—Jan. Feb. Mar. Apr. May June July Aug. 52.6 53.0 52.8 53.6 54.0 54.5 54.8 55.3 39.5 39.8 40.2 40.7 41.2 41.6 42.0 42.4 26.7 27.2 27.4 27.6 27.9 28.1 28.3 28.5 7.3 7.0 7.9 7.1 7.7 8.1 7.7 7.5 29 26 25 29 27 30 29 26 p p p p p p 1/ p p JL/ Estimated as of December 31 and June 30. Exhibit C Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted * (In billions of dollars) 19 6 4 19 6 3 Item July Aug. Sept. Oct. Nov. Dec. 4/ Jan. p +3.0 +2.3 +0.2 May p Mar. p Apr. p lilZ +3.0 +0.4 +1.7 Feb. p June p July p Aug. p +1.6 -0.9 +4.2 V Loans and Investments 2/ =°A U. S. Gov't securities -1.8 -0.6 +0.2 -1.4 +0.6 +0.7 -1.3 +0.4 +0.9 -1.3 -0.5 -0.4 -1.6 +1.7 Other securities +0.5 +0.8 +0.3 +0.4 +0.1 +0.6 —0.1 +0.5 i/ +0.2 +0.3 +0.4 +0.1 +0.7 Loans 2/ +0.9 +1.0 +1.8 +0.7 +2.3 +1.0 +1.6 +0.8 +2.1 +1.5 +1.9 +1.6 +0.6 +1.8 Business -0.2 +0.2 +0.5 +0.7 +0.8 +0.9 +0.2 +0.4 —0.2 +0.8 +0.4 +0.5 +0.3 +0.5 Real estate +0.6 +0.5 +0.3 +0.3 +0.5 +0.2 +0.4 +0.3 +0.4 +0.5 +0.5 +0.4 +0.4 +0.4 Consumer +0.1 +0.2 +0.1 +0.3 +0.3 +0.2 +0.1 +0.5 +0.2 +0.2 +0.3 +0.2 +0.2r +0.2 Security -0.5 -0.1 +0.9 -0.7 +0.8 -0.7 +0.7 —0.3 +0.9 —0.8 +0.6 +0.4 —0.4 -0.2 Nonbank financial +0.6 -0.3 +0.2 +0.2 —0.1 +0.3 -0.3 +0.2 +0.4 -0.1 y +0.4 -0.3 +0.1 Agriculture -0.3 -0.3 +0.2 +0.3 +0.2 -0.1 +0.2 -0.2 +0.1 +0.1 +0.1 y 1/ -0.1 All other +0.1 y y +0.2 1/ +0.3 -0.1 +0.3 +0.4 +0.4 -0.2 +0.2 l/r y Total loans excluding security %/ +0.9 +0.3 +1.3 +2.0 +1.7 +1.8 +0.5 +1.5 +1.3 +1.9 +1.1 +1.7 +0.6 +1.1 Total loans excluding security and nonbank financial 3/ +0.3 +0*6 +1.1 +1.8 +1.8 +1.5 +0.8 +1.3 +0.9 +2.0 +1.1 +1.3 +0.9 +1.0 1/ 2/ 3/ F ±ii2 (2) loan items and total loans are indeperjtotly seasonally adjusted. Seasonally adjusted loans, by category, are experimental and are subject to revision. Less than $50 million. Adjusted to exclude interbank loans. Derived by addition of items and not be subtraction from total loans. toan^esebased°onDrecently3revised seasonally adjusted data; figures for the period beginning 1948 are published in the June 1964 Federal Reserve Bulletin. Only major credit components have been revised. Individual loan items have not been changed. # Exhibit D Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, Not Adjusted for Seasonal„ (In billions of dollars) % @ Last Wednesday of July to last Wednesday of August Item 1964 1963 1962 1961 1960 1959 1958 All commercial banks Total loans U. S. Gov't, securities Other securities Total +0.8 +0.5 +0. 6 +1.9 +0.3 -1.7 +0.8 -0.7 + 1.2 -0.3 +0.4 +1.2 1/ -0.5 +0.2 -0.3 +0.6 -0.1 1/ +0.4 2/+1.4 2/-0.8 2/-0.1 2/+0.4 -0.1 +2.0 +0.3 +2.1 Weekly reporting banks Total loans U. S. Gov't, securities Other securities Total +0.4 +0.3 +0.4 +1.0 +0.1 -1.4 +0.4 -0.9 +0.9 -0.7 +0.1 +0.4 -0.3 -0.6 40. 2 -0.7 +0.1 +0.1 1/ +0. 2 +0.8 -1.0 -0.1 -0. 3 -0. 2 +0.9 +0.2 +0.8 Other banks Total loans U. S. Gov't, securities Other securities Total +0.4 +0. 2 +0.2 +0.9 +0. 2 -0.3 +0.4 +0.2 +0.3 +0.4 +0.3 +0.8 +0.3 +0.1 1/ +0.4 +0.5 -0.2 1/ +0. 2 2/+0. 6 2/+0.2 2/ 1/ 2/+0.7 + 0.1 +1.1 +0.1 +1.3 End of December to last Wednesday of August Item 1964 4/ 1963 4/ 1962 1961 1960 1959 3/+7.8 3/-6.1 3/-0.1 3/+1.7 All commercial banks Total loans U. S. Gov't, securities Other securities Total +6.1 -4.7 + 2.1 +3.5 +4.6 -5.6 +4.4 +3.5 +3.4 -2.7 +4.0 +4.6 -0.4 +3. 2 +1.6 +4.5 +2.5 -2.3 -0.5 -0.5 Weekly reporting banks Total loans U. S. Gov't, securities Other securities Total +1.9 -3.1 + 1.1 -0.1 +1.0 -4.6 +3.1 -0.4 +0.5 -3.2 +2.9 +0. 2 -2.3 +2.9 + 1.1 +1.7 -0.3 -0.3 -0.3 -0.9 Other banks Total loans U. S. Gov't, securities Other securities Total +4. 2 -1.6 +1.0 +3.6 +3.6 -1.0 +1.3 +3.9 + 2.9 +0.5 +1.1 +4.4 + 1.9 +0.3 +0.5 +2.8 +2.8 -2.0 -0.2 +0.4 +4.1 -5.4 -0. 2 -1.4 3/+3.7 3/-0.7 3/+0.1 3/+3.1 NOTE--Data exclude all interbank loans; call report data for weekly reporting banks when available. 1/ Less than $50 million. 2/ As a result of bank structure changes, credit increased about $300 million with million in loans and $100 million in U. S. Government securities. 3/ As a result of bank structure changes, total credit increased about $1 billion: million in loans; $300 million in U. S. Government securities; and $100 million other securities. http://fraser.stlouisfed.org/ 4/ Based on estimated data for December 31, 1963 and 1962. Federal Reserve Bank of St. Louis # i i 1 1958 -1.1 +7.9 i + 2.3 +9.0 -2.7 +6.5 1 +1.6 +5.3 + 1.6 +1.4 # +0. i +3. 7 used $200 $600 in e # # e e # e e # # e . Exhibit E Changes in Commercial and Industrial Loans at Weekly Reporting Banks (In millions of dollars) End of December to end of August 2 / End of July to end of August 1/ Business of Borrower Food processors Commodity dealers Trade concerns Total Metals and products Textiles, apparel, etc. Petroleum, coal, etc. Other manufacturing and mining Public utilities Construction All other types of business Bankers acceptances Other,mainly services Classified Unclassified Total change 1/ 2/ 1964 1963 1962 1961 i960 1964 1963 1962 1961 I960 + 63 + 50 +108 + 30 + 28 + 78 T W + 72 + 58 - 4i 719 -646 -477 + 13 -1110 -598 -107 - 80 TW +107 + 61 + 40 +208 -545 -192 +133 -£>O4 -500 -187 -142 -829 -561 -603 +294 -870 + 50 + 48 - 10 - 58 + 89 + 16 +243 -131 + 92 - 10 -122 + 65 + 44 -137 + 44 -123 - 7 - 38 +421 + 2 - 7 +399 - 93 -424 +249 -113 +642 +388 -142 + 83 + 52 + 33 + 59 + 15 + 14 - 97 + 8 + 6 + 89 + 79 - 34 + 24 +456 -423 + 13 +471 -275 +423 +166 +551 -413 +215 +241 -475 + 79 +385 -173 +121 - 50 + 1 - 51 +350 + 54 - 19 n.a. n.a. +204 - 14 - 51 n.a. n.a. +243 + 53 . + 65 n.a. n.a. — 18 - 5 + 11 n.a. n.a. - 31 -107 +513 n.a. n.a. +503 +541 +143 n.a. n.a. -150 +188 +187 n.a. n.a. +234 +288 +539 n.a. n.a. -733 + 34 +215 n.a. n.a. +404 +190 +296 - 23 -138 +1044 + 38 +522 -699 +505 — + 25 - 80 + 29 - 88 +276 Four most comparable weeks used throughout. Changes for 1964 are compiled from December 25, 1963, rather than from December 31, 1963; the December 25 date is more comparable with earlier years e.g., December 26, 1962 and December 27, 1961. However, these data cannot be linked with all commercial bank data which are always for December 31• +566 - 61 Exhibit F Loans and Investments at All Commercial Banks (In billions of dollars) Date 1957—Dec. 1958—Dec. 1959—June June Dec. 1960—Dec. 1961—Dec. 1962—Dec. 31 31 24 24 31 31 30 31 1963—Jan. Feb. Mar. Apr. May June 30 27 27 24 29 29 (old) (new) 1/ (est.) J u l y 31 Aug. 28 Sept.25 Oct. 30 Nov. 27 Dec. 31 ( e s t . ) 1964—Jan. Feb. Mar. Apr. May June July Aug. 29 26 25 29 27 30 29 26 p p p p p p (est.) p p U. S. G o v ' t . Other securities Total loans Business Real estate Security 169.3 184.4 184.2 184.2 189.5 198.5 214.4 233.6 58.2 66.4 60.9 60.9 58.9 61.0 66.6 66.4 17.9 20.6 20.6 20.6 20.5 20.9 23.9 29.3 93.2 97.5 102.8 102.8 110.0 116.7 123.9 137.9 40.5 40.4 42.5 37.8 40.2 43.1 45.2 49.1 23.1 25.3 26.9 26.9 28.1 28.7 30.3 34.3 4.2 4.7 4.1 4.1 4.9 5.1 6.2 7.3 4.1 5.0 5.0 5.0 5.0 5.7 6.2 7.1 15.8 15.9 17.5 17.5 18.8 20.6 21.4 23.7 5.9 7.1 7.1 7.3 8.5 229.1 230.4 231.9 232.3 233.6 239.1 66.2 65.3 64.8 64.0 63.0 63.5 29.5 29.9 30.7 31.4 31.7 32.4 133.4 135.2 136.4 136.9 138.9 143.1 47.3 47.7 48.6 48.6 48.8 49.9 34.5 34.7 34.9 35.4 36.0 36.7 5.6 6.5 6.0 5.8 6.0 6.9 7.4 7.4 7.5 7.4 7.5 7.5 23.8 24.0 24.2 24.7 25.1 25.5 7.5 7.7 8.0 7.6 7.8 8.6 237.8 237.1 241.9 242.4 245.0 252.4 62.5 60.9 61.8 62.0 62.3 63.4 32.9 33.7 34.2 34.5 34.1 35.1 142.4 142.5 146.0 146.0 148.6 153.9 49.0 49.2 50.1 50.6 51.9 53.7 37.3 37.8 38.2 38.6 39.0 39.2 6.4 6.1 7.4 6.5 7.0 7.9 7.2 6.8 7.0 7.3 7.4 7.4 25.7 26.0 26.1 26.3 26.5 26.7 8.9 8.7 9.1 8.6 8.6 10. 2 246.2 247.2 249.9 250.6 251.5 256.1 254.0 255.9 62.1 61.5 61.5 60.1 59.1 59.1 58.2 58.7 34.6 35.1 35.6 35.8 35.8 36.4 36.6 37.2 149.5 150.6 152.8 154.7 156.7 160.5 159.2 160.0 51.8 52.4 53.2 53.4 53.9 55.0 54.4 54.9 39.5 39.8 40.1 40.6 41.1 41.6 42.0 42.4 7.1 6.9 7.1 7.2 7.5 8.1 7.7 7.3 7.5 7.4 7.5 7.6 7.7 7.8 7.8 7.6 26.6 26.8 27.0 27.4 27.8 28.2 r28. 5 28.8 8.6 8.8 9.3 9.3 9.3 10.1 9.5 9.7 s n u f f s : loans" have been revised to exclude loans to nonbank financial institutions. Nonbank financial institutions Loans and investments Farm Consumer Exhibit G Ratios To Total Deposits J/ U. S. Government securities maturing within one year L O A N S Date Member banks Reserve city banks City of New York Other City Chicago All commercial banks Total 31 31 31 31 31 31 31 31 31 31 31 31 31 31 28 31.2 31.1 35.8 37.2 39.3 40.5 40.3 45.8 48.8 49.7 48.4 54.0 55.1 54.5 56.5 31.3 30.9 36.1 37.6 39.9 41.1 40.7 46.7 50.1 51.0 49.4 55.6 56.5 55.7 57.7 35.9 34.9 42.5 46.3 50.6 50.6 46.8 56.7 61.7 61.9 57.7 67.3 65.9 65.O 67.9 30.4 25.6 32.3 36.2 38.9 39.1 38.3 46.3 52.7 55.2 49.4 58.2 60.8 58.0 61.4 33.4 32.4 38.1 39.4 41.1 42.2 41.9 48.5 52.7 53.3 51.3 58.2 59.0 57.7 60.1 27.1 28.5 31.5 32.1 33.9 36.1 37.1 40.7 42.6 44.1 44.4 48.2 50.3 50.2 51.7 1963—Mar. 27 Apr. 24 ) May 29 June 29 July 31 Aug. 28 Sept.25 Oct. 30 t Nov. 27 Dec. 25 57.0 57.1 57.9 57.7 57.8 58.4 58.1 58.2 58.9 58.7 j 1 58.7 59.4 59.6 59.5 60.2 59.9 65.1 64.9 66.4 66.4 61.1 59.8 58.7 58.8 58.5 60.4 62.0 61.7 61.2 62.1 60.9 61.4 61.8 52.7 52.9 53.6 53.6 53.7 53.8 53.8 53.6 54.0 53.8 6.948—Dec. 1949—Dec. I95O—Dec. 1951—Dec. 1952—Dec. 1953—Dec. fc.954—Dec. 1955—Dec. 1956—Dec. 1957—Dec. 1958—Dec. 1959—Dec. l!L960—Dec. 1961—Dec. 1962—Dec. 1964—Jan. Feb. Mar. * Apr. May June July Aug. 29p 26p 25p 29p 27p 24p 29p 26p 58.6 58.4 59.0 58.6 58.8 59.3 59.3 60.2 60.8 60.9 61.0 61.0 60.0 60.5 60.5 61.4 61.9 62.0 62.1 62.2 65.6 67.3 67.5 66.6 69.3 67.4 67.3 67.6 67.5 68.4 69.3 68.6 68.7 69.0 62.1 62.3 62.5 61.9 61.4 62.7 61.3 62.7 61.3 61.7 62.6 62.7 63.0 63.5 63.3 63.9 64.2 64.1 65.1 65.4 65.4 66.0 66.1 Country 53.9 54.5 54.7 55.6 56.1 56.4 56.4 56.2 All commercial banks 2/ 2/ a/ 14.2 19.2 15.2 9.8 11.7 16.9 10.0 5.1 7.5 8.4 8.3 7.4 8.7 11.2 9.5 y 7.5 7.6 7.8 7.4 7.2 7.4 7.2 7.4 7.3 7.5 7.2 6.8 6.5 6.3 6.4 6.5 5.6 n.a. Total loans (adjusted to exclude loans to banks)5 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 19511 data are on call basis and beginning in 19511 they are on maturity basis. On a call basis, data for 1951 and 1952 are 21.5 and 19.1 respectively. ~b/ Estimated for December 31. NOTE—Comparability of figures affected by changes in Federal Reserve membership, mergers, * etc.; by changes in the reserve classification of cities or individual banks, and by w http://fraser.stlouisfed.org/ changes in items. Federal Reserve Bank of St. Louis 1 . 4 . 3 . - E X H I B I T H, P o r t 1 DEPOSITS AND CURRENCY AND TURNOVER OF DEMAND DEPOSITS ( Seasonally od|u«ted? deposit*, semi-monthly tvr n o vor, monthly AnnMaf r a t e averages of d a l l y f i g u r e s ; BTuToaia id a Wars MONEY S U P P L Y TUINOVEI 343 centers 1 1 * 1 AND S A V I N G S D E P O S I T S * u.s. G O V T , D E P O S I T S : Not a d j u s t e d for s e a s o n a l I I II II I III 1941 i960 1942 1943 1944 Exhibit H - Part II Sea s 0 n a 1 1 y Period M 0 n e y Total su All c o m m e r c i a l b a n k s . i A d j u s t e d p p :L y Demand deposits Currency 19451 Time and savings deposits D e1 t a Turnover 343 centers outside NY U. S. Gov11. deposits 1962—Dec • 1963—Dec. 147.6 117.1 120.7 30.6 32.4 97.9 112.3 31.3 33.9 5.6 5.2 1964—-Jan. Feb. Mar. Apr. May June July Aug. 153.8 121.2 121.1 121.3 121.5 r 121.3 122.1 123.3 123.5 32.6 32.7 32.9 33.0 33.3 33.4 33.5 33.7 113.9 115.1 115.7 116.4 117.4 118.5 119.4 120.6 34.8 33.7 34.4 36.0 35.3 35.0 35.5 35.1 4.2 4.8 6,1 123.4 123.1 123.3 123.8 33.4 33.5 33.7 33.7 118.9 119.8 120.3 120.9 n.a. n.a. n.a. n.a. 1964—July (l) (2) Aug. (1) (2) p ]p - Preliminary, 153.2 153.8 154.2 154.5 r 154.5 155.6 156.7 157.2 156.8 156.6 157.0 157.5 4.2 6.9 7.8 7.0 6.4 9.1 5.1 5.9 6.9 1.4.3 - EXHIBIT I, Po,l I TIME A N D S A V I N G S D E P O S I T S AT MEMBER B A N K S IIN L E A D I N G C I T I E S torn Tim M SAVINGS SAVIN6S Billions el d o l l e r s urosiis DlfOSIlt N M urosm oi I N H V I H I A I S > * « M » S H I F S , AMP C O I F O I A T I O I I S oihii iimi eirosns" r « . . . ri i " i i$** Exhibit I - ParFlI Time Period Total (I n and S a v i n g s Savings m i l l i o n s D e p o s i t s Individuals, Other time partnerships, deposits 1/ and corporations of d o l l a r s ) 1961—Apr. Dec. 1962—Dec. 1963—Dec. 26 27 26 31 38,175 41,472 50,011 59,227 27,819 30,082 34,712 38,083 5,480 5,969 9,080 13,310 4,876 5,421 6,219 7,834 1964—Apr. May June July 29 27 24 29 62,223 62,997 38,437 38,664 38,848 39,168 14,950 15,411 15,481 15,943 8,836 8,922 Aug. 5 12 19 26 63,818 39,242 39,302 39,369 39,421 15,818 8,758 8,784 8,854 1/ ~~ 63,082 63,921 64,021 64,163 64,329 15,935 15,940 16,026 8,753 8,810 8,882 Includes States and political subdivisions, U. S. Government, foreign governments and official institutions, and interbank. • • • • • • • • Date All member Reserve City Banks New York City of Other City Chicago Country • Excess reserves Borrowings Total reserves held seasonally adjusted 1/ All member All member All member - 36 -133 - 41 -424 669 419 268 - 91 -105 - 80 -109 10 - 50 - 62 - 86 - 77 - 32 -104 - 4 - 22 - 11 -203 -228 -197 -449 80 20 - 52 344 277 268 237 583 471 394 652 577 516 482 756 568 572 688 710 557 906 87 149 304 17,201 17,077 17,942 17,978 18,283 18,977 19,551 138 161 133 91 94 33 209 - 59 15 - 80 - 55 - 99 - 74 19 - 7 12 27 41 11 36 21 -111 -149 - 75 -108 - 93 -138 -122 314 308 315 295 298 281 334 374 483 463 412 407 409 536 236 322 330 321 313 376 327 19,854 20,017 19,880 20,025 19,924 20,001 20,194 - - 22 89 86 14 5 14 19 8 -116 - 87 - 54 - 77 -112 -115 -103 -155 334 273 255 257 223 247 272 263 429 r395 r359 375 339 388 400 411 256 304 259 213 255 270 265 334 20,252 20,270 20,439 20,478 20,409 20,682 20,663 20,726 1963--June July August September October November December 1964--January February March April May June July August p • Exhibit J Member Bank Reserves (Based on averages of daily figures; in millions of dollars) Free reserves (excess reserves minus borrowings) Monthly averages: 1956--December 1957--December 1958--December 1959--December 1960--December 1961--December 1962--December • 173 r 91 rlOO 162 84 118 132 77 23 7 17 2 26 1 18 22 NOTE--Beginning July 26, 1962, figures for both New York and the City of Chicago include banks formerly classified as central reserve city and three banks whose classification as reserve city is continued. p - Preliminary. r - Revised. http://fraser.stlouisfed.org/ 1/ Seasonal adjustment Federal Reserve Bank of St. Louis factors revised. Back data may be obtained from the Banking Section. # # # # # # # # * # # *Exhibit K Liquid Assets Held by the Public - Seasonally Adjusted Series JL/ (Amounts in billions of dollars; ratios expressed as percentages) Time deposits Total Demand deposits and currency 1/ Commercial banks 3/ Mutual savings banks 1 2 3 4 1954 1955 1956 1957 1958 1959 1960 1961 1962 320.3 332.5 343.2 356.0 373.1 393.9 399.2 424.6 459.0 130.2 133.3 134.6 133.5 138.8 139.7 - 138.4 142.6 144.8 1963 Mar Apr May June July Aug. Sept. Oct. Nov. Dec. 466.5 469.8 472.9 476.0 478.2 482.5 483.9 489.0 493.2 495.3 1964 Jan. Feb. Mar. Apr. May June July Aug. 498.8 499.5 503.9 505.9 507.5 511.0 511.5 515.6 End of year or month p p p p p p p p Digitized For for FRASER footnotes see 145.0145.4 145.2 146.5 146.9 146.2 • 147.1 148.8 149.6 149.6 149.5 148.4 150.2 149.9 149.6 151.2 151.7 152.0 next page. Postal.' Savings System Savings and loan shares 4/ U. S. D. S. Government Gov1t. securities savings maturing bonds within one 5/ year 6/ 5 6 7 8 Ratios: Demand de- Commercial Liquid posits and bank deposits assets currency and currency to gross to liquid to gross national assets national product product 7/ (2 + 3 * 1 ) 7/ 11 : io 9 •48.2 49.7 52.0 57.5 65.4 67.4 73.1 82.5 98.1 26.3 28.1 30.0 31.6 33.9 34.9 36.2 38.3 41.4 2.1 1.9 1.6 1.3 1.1 0.9 0.8 0.6 0.5 27.2 32.0 37.0 41.7 47.7 . 54.3 61.8 70.5 79.8 55.6 55.9 54.8 51.6 50.5 47.9 47.0 47.4 47.6 30.6 31.6 33.2 38.8 35.6 48.8 41.9 42.6 46.8 85.9 81.3 79.6 80.3 80.2 80.5 79.2 78.5 80.4 35.0 32.6 31.2 30.3 29.9 28.7 27.6 26.4 25.4 55.7 55.0 54.4 53.6 54.8 52.6 53.0 53.0 52.9 102.2 102.9 104.0 105.0 106.2 107.1 107.9 110.1 111.9 112.9 42.2 42.5 42.8 43.1 -43.3 43.5 43.7 44.2 . 44'. 6 44.5 0.5 0.5 0.5 0.5 47.9 48.0 48.1 48.2 48.3 48.4 48.5 48.5 . 48.6 49.0 45.5 46.5 47.6 47.2 46.7 49.5 48.0 47.9 48.1 48.1 81.0 25.3 81.6 25.2 0.5 0.5 0.5 0.4 0.5 83.2 83.9 84.7 85.6 86.2 87.2 88.3 89.1 90.0 90.8 81.8 25.0 81.9 24.8 53.0 52.9 52.7 52.8 52.9 52.5 52.7 52.9 53.0 53.0 0.5 0.4 0.4 0.4 0.4 0.4 0.4 0.4 91.3 92.3 93.4 94.0 94.8 95.7 96.5 97.6 114.8 115.5 115.9 117.0 117.9 118.4 119.8 120.5 45.0 45.4 45.6 46.0 46.3 46.6 47.1 47.4 49.1 49.0 49.0 49.1 49.1 49.2 49.3 49.3 48.6 48.4 49.3 49.5 49.4 49.4 46.7 48.3 82.0 24.5 82.0 24.3 53.0 52.8 52:8 52.8 52.7 52.8 5 3.1 52.9
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