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Federal Reserve Bank of St. Louis
OWNERSHIP OF DEMAND DEPOSITS
AT ALL INSURED COMMERCIAL BANKS
SIXTH FEDERAL RESERVE DISTRICT
AND UNITED STATES
ON IANUARY 25, 1961
Federal Reserve Bank of Atlanta
Research Department
Mai 12, 1961
1961 SURVEY OF OWNERSHIP OF DEMAND DEPOSITS
Demand deposits of individuals, partnerships, and corporations
at Sixth District commercial banks amounted to more than $8 billion on
January 25, 1961. According to the most recent survey of demand de
posit ownership conducted by the Federal Reserve Bank of Atlanta, the
number of separate accounts reached nearly $5.8 million, a 2.3 percent
gain over the 1960 survey figure. The average size of these accounts
declined from $1,439 to $1,410, however, as the dollar total of all
accounts rose only 0.2 percent.
The Atlanta Bank based its estimates on data secured from a repre
sentative sample of member and non-member banks in the Sixth Federal
Reserve District, which includes Alabama, Florida, Georgia, the southern
halves of Louisiana and Mississippi, and the eastern two-thirds of
Tennessee. The Survey is conducted nationwide each year by the Federal
Reserve System. Government agencies and private organizations, as well
as the System itself, find the information useful in preparing analyses
of the nation’s economy.
The three tables attached summarize the results of the Sixth Dis
trict survey. A reprint of the analysis of U.S. figures published in
the April 1961 issue of the Federal Reserve Bulletin is also included.
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Federal Reserve Bank of St. Louis
Table I
SIXTH FEDERAL RESERVE DISTRICT
PERCENTAGE DISTRIBUTION OF DEMAND DEPOSIT ACCOUNTS OF
INDIVIDUALS, PARTNERSHIPS, AND CORPORATIONS, 1957 - 196l
(All Insured Commercial Banks)
Domestic Business
Number of Accounts, Percent of Total
195U
1959
19b0
ssr—
Corporate Financial
1.3
.8
.5
.5
.5
Non-Corporate Financial
1.0
1.0
.4
.4
.3
Corporate Non-Flnancial
2.2
2.5
2.9
3.0
3.3
Non-Corporate Non-Flnancial
5.1
5.7
6.4
6.3
6.3
Non-Profit Organizations
4.9
4.9
5.3
5.0
5.1
Farmers
6.9
5.4
4.7
4.2
3.0
78.5
79.3
79.8
80.4
81.4
Individuals
Trust Funds of Banks
«
.1
.1
.1
•
Foreigners
.1
.3
•
.2
.1
Domestic Business
Corporate Financial
Dollar Amount of Accounts, Percent of Total
19bl
....ITO
195?
1S2.
1S3L
14.5
10.3
8.1
Non-Corporate Financial
2.0
2.5
1.5
1.7
.9
Corporate Non-Flnancial
28.8
31.3
33.1
32.1
33.1
Non-Corporate Non-Flnancial
11.4
13.8
14.0
15.1
15.3
Non-Profit Organizations
3.7
3.8
6.1
4.0
4.5
Farmers
4.6
3.7
3.5
3.3
2.7
33.2
32.2
31.8
33.8
33.7
1.5
1.5
1.6
1.9
1.6
.3
.9
.2
.2
.5
Individuals
Trust Funds of Banks
Foreigners
♦Less than 5/100 of one percent.
Note:
Details may not add to totals because of rounding.
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Federal Reserve Bank of St. Louis
7.6
Table II
SIXTH FEDERAL RESERVE DISTRICT
OWNERSHIP OF DEMAND DEPOSITS
RELATED TO SIZE OF BANK, JANUARY 25, 1961
(Percent Distribution Within Size Group)
Domestic Business
Under $2
Million
NUMBER OF ACCOUNTS
Size of Bank
$2 - $10
$10 - $50
Million
Million
Over $50
Million
Corporate Financial
.3
.5
.3
.8
Non-Corporate Financial
.3
.5
.2
.2
Corporate Non-Financial
1.5
2.2
4.3
5.7
Non-Corporate Non-Financial
4.8
6.0
6.9
7.1
Non-Profit Organizations
6.9
5.3
3.8
4.6
Farm Operators
6.6
3.7
1.1
1.0
79.6
81.7
83.1
80.5
Individuals - Personal
Trust Funds of Banks
*
.1
*
*
Foreigners
0
#
.3
.1
Domestic Business
Under $2
Million
AMOUNT OF DEPOSITS
Size of Bank
$10 - $50
$2 - $10
Million
Million
Over $50
Million
Corporate Financial
2.2
6.0
8.0
9.4
Non-Corporate Financial
2.0
1.5
.4
.8
Corporate Non-Financial
10.7
19.6
28.9
47.1
Non-Corporate Non-Financial
16.4
15.5
14.3
15.6
Non-Profit Organizations
4.5
4.5
5.1
4.0
Farm Operators
9.9
7.1
.7
.3
54.2
45.1
38.3
21.0
.1
.7
2.6
1.7
0
•
1.7
.1
Individuals - Personal
Trust Funds of Banks
Foreigners
♦Less than 5/100 of one percent.
Note;
Details may not add to totals because of rounding
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Federal Reserve Bank of St. Louis
Table III
SIXTH FEDERAL RESERVE DISTRICT
OWNERSHIP OF DEMAND DEPOSIT ACCOUNTS
RELATED TO SIZE OF ACCOUNT, JANUARY 25, 1961
(Percent Distribution Within Size Group)
Unclassified
Number Amount
0-99
Number Amount
Size of Account, Dollars
10,000-24,000
1.000-9.999
100-999
Number Amount Number Amount Number Amount
25,000-99,999
Number Amount
Over 100,000
Number Amount
Domestic Business
Corporate Financial
0
0
11.1
•
21.2
.4
38.6
6.7
12.2
7.5
11.5
24.1
5.3
61.3
Non-Corporate Financial
0
0
19.7
.2
33.5
3.4
38.1
31.5
6.2
23.5
1.6
14.9
.8
26.5
Corporate Non-Financial
0
0
14.0
*
26.8
.9
38.6
10.3
10.9
12.1
6.9
23.9
2.8
52.8
Non-Corporate Non-Financial
0
0
24.8
.2
36.6
4.5
32.3
30.1
4.1
17.9
1.7
22.9
.4
24.5
Non-Profit Organizations
0
0
45.3
1.2
39.4
11.0
13.5
31.1
1.3
15.5
.5
17.6
.1
23.6
Farmers
0
0
28.8
.6
44.7
14.8
24.9
54.5
1.2
14.4
.3
10.4
.1
5.3
.5
.1
10.7
#
Individuals
11.1
3.2
41.4
1.9
36.1
22.4
10.7
47.0
Trust Funds of Banks
14.6
78.4
27.6
•
32.6
.2
20.1
1.4
0
0
2.5
3.2
2.5
16.8
12.4
2.3
Foreigners
1.2
•
32.0
.1
27.3
1.3
31.1
12.4
2.8
5.3
4.7
30.7
.9
50.2
TOTAL
9.0
2.4
39.0
.8
36.2
9.5
13.8
27.6
1.2
12.8
.6
18.3
.2
28.6
♦Less than 5/100 of one percent.
Note:
Details may not add to totals because of rounding.
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Federal Reserve Bank of St. Louis
Ownership of Demand Deposits
Demand deposits of individuals, partner
ships, and corporations at insured commer
cial banks declined an estimated $500 mil
lion, or 0.4 of 1 per cent, in the year ending
January 25, 1961, according to the Federal
Reserve System’s most recent Survey of De
mand Deposit Ownership. Demand depos
its of these groups had increased 2.0 per
cent in the year before, and by 4.3 per cent
in the year ending January 28, 1959.
As in the last several years, there was
Note.—This article was prepared by Edward P.
Snyder of the Board’s Division of Research and Statis
tics. For results of the January 1960 Survey see the
Federal Reserve Bulletin for April 1960, pp. 367-70.
an increase in the over-all number of de
mand deposit accounts. The net increase
of 1.3 million new accounts was, however,
only about half that in the preceding year.
Deposit holdings of most ownership
groups were practically unchanged. There
were no statistically significant changes in
the holdings of nonfinancial business, which
make up about half of the total, or in per
sonal deposits of individuals, which account
for 30 per cent of the total. In the pre
ceding year, holdings of nonfinancial busi
ness had risen 4.2 per cent, while those of
individuals had increased 2.0 per cent.
Table 1
Demand Deposit Accounts
of
Individuals, Partnerships, and Corporations
January 25, 1961
[Estimates for insured commercial banks]
Amount
Number
Type of holder
Jan. 25. 1961
Millions
Percentage distribution
Increase, or
decrease ( —),
from Jan. 27, 1960
Jan. 25, 1961
Increase, or
decrease ( — ),
from Jan. 27, 1960
Millions
Per cent
Billions
of
dollars
Percentage distribution
Billions
of
dollars
Per cent
All holders...........................
58.4
100.0
1.3
2.3
109.0
100.0
-0.5
-0.4
Domestic business...................
6.2
10.7
0.2
2.5
64.2
58.9
-0.3
-0.4
Corporate.........................
Noncorporate...................
2.3
4.0
3.9
6.8
0.1
(9
5.1
1.1
49.5
14.7
45.4
13.5
(>)
-0.2
(9
-1.6
Financial business.................
Corporate.........................
Noncorporate...................
0.3
0.2
0.5
0.8
(9
(9
(9
3.3
8.0
-2.1
10.0
8.2
1.8
7.5
1.7
0.6
-0.1
Nonfinancial business............
Corporate.........................
Noncorporate...................
5.8
9.9
2.5
54.2
—0.7
3.4
6.4
0.7
0.1
(9
49.7
2.0
3.8
4.8
1.3
41.2
12.9
37.8
11.9
-0.6
-0.2
-1.4
-1.2
Nonprofit organizations..........
Farm operators.......................
Individuals—personal..............
AH other...................................
Trust departments of banks
Foreigners.............................
3.0
2.8
46.2
5.1
4.8
79.2
0.1
-0.3
1.3
(9
(9
(9
2.2
-8.4
3.0
5.3
4.1
32.4
4.8
3.7
29.7
0.1
-0.3
0.1
1.0
-6.2
0.3
13.6
3.1
2.8
-0.1
1 Decrease of less than $50 million.
2 Decrease of less than 0.05 per cent.
J Increase of less than 50,000 accounts.
4 Decrease of less than 50,000 accounts.
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0.4
0.3
0.1
0.2
0.1
0.1
0.1
0.1
34.0
1.9
2.1
1.0
9.2
2.0
0.9
0.5
(')
-0.1
5.0
7.5
-4.8
— 1.3
—3.0
-1.9
-5.4
Note.—Corporate farming enterprises are classified as corporate
nonfinancial business. Details may not add to totals because of
rounding.
REPRINTED FROM
FEDERAL RESERVE BULLETIN
FOR APRIL 1961
FEDERAL RESERVE BULLETIN • APRIL 1961
Total demand deposit balances of finan
cial businesses, which make up about 9 per
cent of the total, increased 5.0 per cent, or
$500 million, in the year ending January
25, 1961. Deposits of this group had de
clined in each of the three previous years.
Since balances of noncorporate financial
businesses appear to have declined slightly,
balances of financial corporations accounted
for all of the increase. Apparently no sin
gle category of financial business was pri
marily responsible for the increase in these
holdings. Moreover, there was a mixed
pattern of increases and decreases from one
Federal Reserve district to another. The
net effect of the increase, however, was to
restore the over-all level of balances of fi
nancial businesses approximately to that
prevailing on January 29, 1958.
Although net farm income rose some
what in 1960, demand deposit balances of
farm operators, which make up 4 per cent
of the total, declined an estimated 6.2 per
cent, or about $300 million, in the year
ending January 25, 1961. This decline in
deposit balances was about half that in the
previous year, when net income of farm op
erators dropped substantially. In 1958,
both net farm income and the demand de
posit balances of farm operators rose.
The number of demand deposit accounts
of farm operators declined also as the num
ber of farms and farm families continued
to fall. The estimated decline in the num
ber of accounts, 300,000, was considerably
larger, however, than in other recent years.
Comparison of the estimated changes in
the demand deposit balances of other holder
groups with the sampling errors of these esti
mates indicates that the changes were not
statistically significant. Changes in the
number of accounts in most cases were sta
tistically significant. The increase in the
number of personal accounts of individuals
accounted for the total increase in the num
ber of accounts of individuals, partnerships,
and corporations. The growth in the num
ber of personal accounts, however, was only
a little more than half as large as in 1959.
Table 2
Demand Deposit Accounts of Individuals, Partnerships, and Corporations
(Estimates for insured commercial banks]
Type of holder
Jan. 25,
1961
Jan. 27,
1960
Jan. 28,
1959
Jan. 29,
1958
Jan. 30,
1957
Jan. 25,
1961
Jan. 27,
1960
Jan. 28.
1959
Jan. 29,
1958
Jan. 30,
1957
Amount of deposits
(miUions of dollars)
Number of accounts
(thousands)
AU holders..............................
58,364
57,054
54,360
53,728
52,206
109,040
109,517
107,321
102,934
104,835
Domestic business.....................
Corporate...........................
Noncorporate....................
6,224
2,259
3,965
6,070
2,149
3,921
5,751
1,868
3,883
5,537
1,810
3,727
5,484
1,799
3,685
64,213
49,472
14,741
64,469
49,486
14,983
62,313
47,465
14,848
60,509
46,290
14,219
61,460
47,623
13,837
Financial business......................
Corporate...........................
Noncorporate....................
458
255
203
443
236
207
438
218
220
660
304
356
724
328
397
10,036
8,226
1,810
9,557
7,655
1,901
9,619
7,595
2,024
10,154
7,896
2,258
11,179
8,836
2,343
Nonfinanclal business................
Corporate............................
Noncorporate....................
5,766
2,004
3,762
5,627
1,913
3,714
5,313
1,650
3,663
4,877
1,506
3,371
4,760
1,472
3,288
54,177
41,246
12,931
54,912
41,830
13,082
52,694
39,870
12,825
50,355
38,393
11,961
50,281
38,788
11,494
Nonprofit organizations..........
Farm operators..........................
Individuals—personal..............
All other.......................................
Trust departments of banks
Foreigners...............................
2,994
2,785
46,219
142
61
81
2,930
3,042
44,887
125
46
79
2,828
3,188
42,473
120
46
74
2,734
3,347
41,987
124
28
96
2,633
3,460
40,515
113
29
84
5,261
4,085
32,381
3,100
2,140
960
5,210
4,353
32,289
3,196
2,181
1,015
4,967
4,888
31,671
3,483
2,447
1,036
4,990
4,545
30,153
2,738
1,756
981
4,542
4,671
30,895
3,266
2,076
1,190
Note.—Details may not add to totals because of rounding.
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Federal Reserve Bank of St. Louis
OWNERSHIP OF DEMAND DEPOSITS
Table 3
Demand Deposits
of
Individuals, Partnerships,
Corporations, January 25, 1961
and
By Federal Reserve District and
Type of Holder
by
[Estimates for insured commercial banks]
Amount (billions of dollars)
Number (millions)
Type of holder
Federal Reserve
district
All
holders
Finan
cial
busi
ness
Type of holder
Non
finan
cial
busi
ness
Farm
oper
ators
Individ
uals—
per
sonal
All
holders
All
other1
Finan
cial
busi
ness
Non
finan
cial
busi
ness
Farm
oper
ators
Individ
uals—
per
sonal
All
other1
All districts......................
58.4
0.5
5.8
2.8
46.2
3.1
109.0
10.0
54.2
4.1
32.4
8.4
Boston...................................
New York............................
Philadelphia..........................
2.5
6.1
3.1
(2)
(2)
(2)
0.3
0.8
0.3
(2)
(2)
(2)
2.0
4.9
2.6
0.1
0.3
0.2
6.0
21.2
6.7
0.7
2.0
0.7
3.3
12.4
3.3
(3)
0J
0.1
1.5
4.6
1.9
0.5
2.1
0.7
Cleveland..............................
Richmond.............................
Atlanta..................................
4.4
5.4
5.8
(2)
(2)
0.4
0.4
0.6
0.1
0.2
0.2
3.5
4.4
4.7
0.3
0.3
0.3
8.2
6.8
8.1
0.6
0.6
0.7
4.2
3.1
3.9
0.2
0.2
0.2
2.6
2.2
2.7
0.7
0.6
0.5
Chicago.................................
St. Louis................................
Minneapolis.........................
7.5
4.1
2.5
0.1
0.8
0.3
0.2
0.5
0.4
0.3
5.8
3.2
1.8
0.4
0.2
0.2
16.1
4.8
3.0
1.6
0.3
0.2
8.3
1.7
1.2
0.7
0.5
0.4
4.3
2.0
1.0
1.2
0.3
0.2
Kansas City..........................
Dallas....................................
San Francisco......................
4.5
4.3
8.2
0.4
0.4
0.8
0.4
0.2
0.2
3.4
3.4
6.8
0.3
0.2
0.3
7.3
7.8
13.0
0.6
0.9
1.1
3.3
3.2
6.4
0.8
0.5
0.5
2.3
2.9
4.4
0.4
0.4
0.7
(2)
(2)
(*)
(2)
(2)
0J
2 Less than $50 million.
Note.—Details may not add to totals because of rounding.
1 Nonprofit organizations, trust departments of banks, and for
eigners.
2 Less than 50,000 accounts.
Table 4
Estimated Sampling Errors
for
Survey of Demand Deposit Ownership
Standard deviations
Deposits outstanding (millions of dollars)
Number of accounts (thousands)
Type of holder
Change to Jan. 25, 1961 from:
Jan. 25, 1961
Change to Jan. 25, 1961 from:
Jan. 25, 1961
Jan. 27, 1960
Jan. 28, 1959
Jan. 27, 1960
Jan. 28, 1959
Financial business:
Corporate.....................................................
Noncorporate..............................................
14
13
14
16
15
19
495
155
349
169
420
165
Nonfinancial business:
Corporate....................................................
Noncorporate.',..........................................
58
71
37
46
41
52
1,913
392
763
368
934
381
Nonprofit organizations....................................
Farm operators...................................................
Individuals—personal........................................
Trust departments of banks.............................
Foreign holders...................................................
52
82
634
13
7
30
60
368
14
7
35
60
470
19
6
253
153
522
133
64
193
101
310
111
57
211
117
402
274
72
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