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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