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https://fraser.stlouisfed.org 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. https://fraser.stlouisfed.org 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. https://fraser.stlouisfed.org 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 https://fraser.stlouisfed.org 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. https://fraser.stlouisfed.org 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. https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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. https://fraser.stlouisfed.org 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 https://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
