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FLOW OF FUNDS
IV-75
10 February 1976
FLOW OF FUNDS
ACCOUNTS
4TH QUARTER 1975
SEASONALLY ADJUSTED
AND
UNADJUSTED
Division of Research and Statistics
Boargl of Governors of the Federal Reserve System
Washington D. C.
20551
TABLE LIST
Unadjusted
Quarterly
Rates
Seasonally
Adjusted
Annual Tables
SUMMARY TABLES
1
Income and Product Distribution
2
3
Funds Raised In Credit Markets
4
5
Credit Market Supply of Funds
SECTOR TABLES
6
7
Households
8
9
Total Nonfinancial Business & Noncorporate
Business
10
11
Corporate Business
12
13
Governments
14
15
Banking System
16
17
Commercial Banking Subsectors
18
19
Nonbank Finance Summary
Savings Institutions
20
21
Insurance and Pension Funds
22
23
Finance N.E.C.
24
25
Rest of the World
TRANSACTION TABLES
26
27
Monetary and Insurance Reserve
Interbank Claims
28
29
Money and Deposits
30
31
U. S. Government Securities
32
33
Private Securities and Mortgages
34
35
Mortgages by Type
36
37
Consumer Credit and Bank Loans N.E.C.
38
39
Other Loans, Including Open-Market Paper
40
41
Security Credit, Trade Credit, and Taxes
» 44
43, 45
46
47
Total Claims— Recapitulation by Type
48
49
Saving by Individuals
50
51
Discrepancies
Miscellaneous Financial Claims
Flow of Funds Accounts
Fourth Quarter 1975
The extensive revisions in national income accounts that
were published by the Commerce Department in January make it nec
essary to limit somewhat this presentation of flow of funds data.
In quarterly form the NIA revisions have been absorbed only for the
year 1975, and the tables show quarterly flows for that one year.
Moreover, because the unadjusted NIA were not available in time for
this publication, national income items that appear in unadjusted
tables here are derived by the very inadequate process of applying
old seasonals to the new seasonally adjusted NIA.
Financial items in the tables, however, are revised only
for 1975, relative to the November publication, and for financial
flows before 1975 the tables from November and earlier still re
present the present state of the data.— '
The tables include, in addition to the quarters of 1975,
a run of annual totals from 1962 that combine new NIA with unrevised
financial flows. Where, later this year, a complete set of quarterly
NIA data have been brought into the system, both seasonally adjusted
and unadjusted, the financial accounts will also be revised and re
adjusted for seasonals to produce a full revision of the flow of
funds system parallel to the national income accounts.
Fourth-quarter 1975 figures are based on early indicators
and are therefore highly tentative, particularly in the distribution
of financial asset holdings among private nonfinancial sectors. The
most important information not yet available in these tables are
S.E.C. data on net new security issues and current assets and
liabilities of corporations. The lack of these data weakens the
figures for total credit flows, household investment in securities,
and distribution of liquid assets as between households and business.
Also missing at the time the accounts were put together were balance
of payments statistics, final income-and-product data, end-of-quarter
balance sheets for insurance companies, and the Treasury survey of
ownership of Federal securities.
Tables in the form of this publication are distributed
quarterly to a mailing list maintained for this purpose. Historical
data back to 1945 are available on the basis previous to this year's
revisions in another publication that includes annual flows and
year-end outstanding asset and liability positions. Much of the
historical material appears in the October 1974 Federal Reserve Bulletin
pp. A-58-A59.28, with annual net flows back to 1965 and outstandings
to 1962. Requests concerning these publications or the mailing list
should be addressed to the Flow of Funds Section, Division of Research
and Statistics, Room B-3222, Board of Governors of the Federal Reserve
System, Washington, D. C., 20551. Telephone:
(202) 452-3483.
1/
An exception is proprietors' net equity investments in noncorporate
business. This item balances and clears the noncorporate business
sector accounts and is a financial asset net flow for households.
NIA revisions and conceptual changes for noncorporate saving and
investment result in alterations in both measure and meaning of
proprietors' net investment flows that are reflected in these tables
10 FEBRUARY 1976
INCOME AND PRODUCT DISTRIBUTION
INCOME AND PRODUCT DISTRIBUTION
INCOME AND PRODUCT ACCOUNTS: GNP EXPENDITURES AND GROSS SAVING
_
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL * * TES __________________
1970
1971
1972
1973
1
935.5
9 82.4
1063.4
1171.1
1306.3
1406.9
1499.1
1433.7
1460.7
1528.7
1573.3
2
837.7
618.8
84.9
123.2
95 . 6
901.9
668.2
986.1
733.0
6
787.6
579.7
85.5
110.4
97.5
97.1
137.5
96.2
151.0
1078.5
808 .5
122.9
168.0
10 2 .1
102.0
1186.9
885.9
121.9
189.4
111.7
1294.2
963.2
127.7
207.9
123.2
1247.7
926 . 4
118.9
201.9
119.4
1275.0
9 50.3
123.8
205.5
119.2
1311.5
977.4
131.8
209.9
124.2
1342.6
998.7
136.1
214.1
129.8
7
146.2
140.8
160.0
188.3
220.5
212 .2
183.4
168.7
161.4
195.1
208.2 GROSS DOMESTIC INVESTMENT
8
10
11
12
136.8
37.9
25.9
25.7
.7
137.0
36.6
24 . 4
23.4
.6
153.6
49.6
34.4
31.3
.7
178.8
62.0
42.2
40.0
.7
203.0
66.5
44.0
44.5
202.5
54.6
37.6
37.7
197.6
48.8
38.8
35.3
193.5
44.2
32.9
34.9
.4
191.1
45.0
35.0
31.8
.5
197.2
50.4
40.7
34.7
208.4
55.7
46.5
39.9
.7
13
14
15
-.5
-.3
-.3
.4
2.4
1.5
1 .2
1.2
.8
.8
- 1 .1
-.5
-.5
-l.l
-.6
- .6
1.4
1.4
-2.4
- 1 .2
- 1 .2
2.7
1.3
1.3
5.2
2.6
2 .6
5.9
3.0
2.9
16
17
18
19
11.9
8.3
3.5
15.2
11.3
7. V
2.5
9.7
7.0
.1
17.0
11.9
4.7
.4
10 .0
.1
22.5
15.7
6.5
10.0
.1
19.8
13.9
5.6
.4
.9
.8
1.8
1 .2
6.8
2 .1
.8
9.2
6.4
2.1
.7
20
21
22
98.9
5.1
5.7
12.5
2.9
72.7
100.5
5.3
104.1
5.6
6.4
116 .8
6.0
6.6
148.7
5.7
9.9
15.5
146.1
5.8
1 1 .1
147.9
6.3
9.9
16.5
149.3
5.9
12.9
4.4
86.9
136.5
6.3
8.9
14.8
4.8
101.7
109.2
108.9
15.8
8.4
109.1
15.5
9.3
105.4
146.8
5.7
9.1
15.0
8.3
108.7
152.7
5.6
10.3
15.8
8.4
112.6
9.4
3.8
9.7
-1.9
1 1 .6
1 .0
10 .6
-14.2
1.9
-16.1
-2.4
-13.6
-24.8
-1.5
- 23.3
-4.4
-18.9
-29.6
-2. 7
-26.9
- 2 .1
3.6
-5.7
-1.5
-4.2
-.2
5.5
-5.7
-1.2
-4.5
2 1 .6
23
24
25
26
27
28
29
30
.1
9.2
1.0
8.3
1.8
.2
.2
12 .2
8 .6
10 .6
3.6
4.5
6 .2
12.4
3.3
73.2
.1
3.7
-1.4
5.0
4.0
77.0
.6
.2
1 .0
.6
2.8
7.1
2 .1
6 .1
8.6
1 0 .1
1 0 .1
.8
17.3
148.2
130.9
24.3
140.7
116.4
148.5
126.4
903.1
72.7
983.6
74.0
7.5
1076.8
89.5
8.3
1024.0
73.6
7.2
1081.6
107.4
9.9
1087.1
85.8
7.9
1114.4 DISPOSABLE PERSONAL INCOME
91.2 PERSONAL SAVING
8 .2
SAVING RATE CPER CENT)
34
35
36
-73.4
9.9
-53.8
5.7
- 102.0
8.8
12 .8
-67.2 FEDERAL GOVERNMENT SURPLUS
12.4 S. ♦ L. GOVERNMENT SURPLUS
37
38
97.1
.4
5.8
18.3
72.7
108.2
.4
5.8
15.5
86.4
129.5
.4
37.5
41.6
50.7
37
38
2 .1
8.5
- 1 2 .1
- 22.0
3.7
-17.3
13.7
-6.9
12.9
- 11.7
39
40
41
42
43
83.4
♦
3.7
11.3
6 8.4
71.5
*
3.8
82.0
117.0
.7
.132.1
.5
55.1
4.6
14.1
63.2
96.2
.3
4.8
15.4
75.6
17.4
92.1
17.4
103.2
119.8
.4
5.9
16.0
97.6
44
45
46
47
39.7
34.5
37.7
.1
7.8
29.8
33.4
48.2
.3
9.1
38.9
47.0
7.2
27.2
.1
8 .1
52.6
6.3
33.2
.1
41.5
9.9
42.5
9.7
37.2
10.4
27.0
9.5
31.9
9.1
41.5
9.6
48.5
48
49
50
51
52
22 .6
.1
22.9
*
23.0
24.6
27.8
31.1
32.8
32.1
32.6
33.5
33.1
2 .2
.8
2.7
.3
2.9
*
61
62
63
64
65
1 .6
.1
.1
6 .2
-1
8.0
6.8
.1
48.4
20.0
2 1 .6
24.3
14.1
-. 1
21.3
30.0
4.6
6.1
1.9
7.4
40.9
.3
3.7
13.4
-5.0
1.9
10.3
-4.3
1.9
18.2
98.8
13.7
105.4
14.7
8 .1
-3.6
14.3
1 .6
6.0
82.5
90.8
.1
20.6
.2
.4
30.4
.2
19.8
1.9
1 1 .0
.1
.1
2 1 .2
-.1
8 .1
3.2
20.6
1 .8
26
27
28
29
30
147.3
125.8
801.3
49.4
1 .6
INVENTORIES
7.7
144.2
136.5
742.8
57.3
7.7
*
20
21
22
23
24
25
7.4
101.5
94.2
685.9
50.6
7.4
1.8
NONRES. PLANT ♦ EQUIPMENT
N O N PROFIT INST. IHH>
FARM
NO N F A R M NONCORP. BUS.
FINANCIAL CORPORATIONS
NONFIN. CORP. BUSINESS
-3.3
72.7
75.9
630.4
35.1
5.6
5.0
14.4
- 2.0
16
17
18
19
-1.9
10.7
5.2
- .1
34
35
36
53
54
55
56
57
58
59
60
13
14
15
- .1
-29.7
65.6
64.0
1.9
*
8
9
10
11
|2
17.5
3.5
14.1
-1.5
15.5
.6
8.8
3.9
62.5
58.5
.1
M U LTI-FAMILY UNITS
NONCO R P O R A T E BUSINESS
NONFIN. CORP. BUSINESS
REITS
6
7
9.4
54.7
52.9
1 2 .6
P RIVATE FIXED INVESTMENT
RESIDENTIAL CONSTRUCTION
1-4 FAMILY STRUCTURES
H O U SEHOLD PURCHASES
FARM
CHANGE IN WORK IN
PROCESS ON NONFARM
NONCORPORATE
CORPORATE
2
3
4
5
6.4
1.3
5.1
31
32
33
2 .8
1
TOTAL GNP
CURRENT OUTLAYS
HOUSEHOLDS
OF WH I C H C O N SUMER DURABLES
STATE ♦ LOCAL GOVERNMENT
U. S. GOVERN M E N T
1
o
Ul
9
1 1 1 .2
1975
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
iv
1969
3
4
5
1974
1
8 .1
28.9
- 16.8
3.7
15.7
.1
.1
1.9
.1
.2
10.9
6.9
30.3
-41.0
10.9
.1
.1
2.0
.1
.1
2 .0
- .1
2 2 .1
6.2
14.9
108.1
.1 *
.1
2 .0
.2
NONFARM
NONCORPORATE
CORPORATE
22.5 NET EXPORTS
151.9
EXPORTS
129.4
IMPORTS
CORPORATE PROFITS, TAXES ♦ DIVIDENOS:
144.4
PROFITS - TOTAL
.4
FARMS
5.7
FOREIGN
15.2
FINANCIAL CORPORATIONS
123.1
NONFIN. CORPORATE BUSINESS
58.2
.1
.1
1.7
31
32
33
39
40
41
42
43
TAX ACCRUALS - TOTAL
FARMS
FINANCIAL CORPORATIONS
NONFIN. CORPORATE BUSINESS
44
45
46
47
DIVIDENDS - TOTAL
FARMS
NET FOREIGN
FINANCIAL CORPORATIONS
NONFIN. CORPORATE BUSINESS
48
49
50
51
52
30.7
♦
30.0
30.6
31.2
31.1
40.0
27-5
34.0
45.3
53.2
4.2
5.6
35.3
-15.8
4.2
23.7
4.1
5.4
43.5
-23.6
4.1
24.0
UNOI S T . PROFITS - TOTAL
FARMS
FOREIGN BRANCH PROFITS
FINANCIAL CORPORATIONS
NONFIN. CORPORATE BUSINESS
+IVA and CCA (1)
♦ BRANCH PROFITS
= NONFIN. CORPS., NET
53
54
55
56
57
58
59
60
149.5
21.7
3.9
9.9
22.4
9 1.6
4.3
.7
154.7
22.3
4.0
160.5 TOTAL CAPITAL CONSUMPTION
22.9
OWNER-OCCUPIED HOMES ( H H )
4.1
NONPROFIT INSTITUTIONS (HH)
10 .2
FARM NONCORPORATE
23.6
NONFARM NONCORP. BUSINESS
99.7
TOTAL CORPORATE
4.8
FINANCIAL BUSINESS
.8
C ORPORATE FARMS
94.1
NONFIN. CORPORATE BUSINESS
MEMOS CAP. CONS. ON CONSUMER
125.8
DURABLES NOT INCLUDED ABOVE
286.3 TOT. CAP. CONS. INCL. DURABLES
61
62
63
64
65
.2
4.0
.2
.2
.2
29.6
-17.1
4.0
16.5
3.8
7.8
15.7
-17.8
3.8
1.7
134.0
19.5
3.5
9.3
19.7
82.1
3.7
.7
77.6
152.5
145.4
94.0
4.4
.7
88.8
89.1
4.1
.7
84.3
8 6.6
90.2
110 .8
117.0
262.4
120.9
2 70.4
123.0
277.7
.2
FARM
6.2
3.8
6 .1
23.9
- 1 1 .1
3.8
16.6
.2
.2
2.8
.4
52.7
6.5
15.4
60.6
2. 4
.5
57.7
117.1
17.1
3.1
7.8
17.2
71.9
3.2
.5
62.0
.6
68 .1
71.8
154.3
77.0
167.8
83.2
182.0
89.7
195.1
98.6
215.6
244.8
121.7
274.2
72
-3.3
- 2 .1
1.5
1.9
.4
-.4
-5.2
-3.5
-9.4
-3.5
-4.2 STATISTICAL DISCREPANCY
72
73
74
47.5
15.5
48.2
14.4
46.0
13.5
43.2
15.0
41.2
14.3
39.8
14.8
39.2
13.6
38.6
14.9
38.4
39.2
13.8
40.3 PROFIT TAX RATE (X)
13.9 PERSONAL TAX RATE (X)
73
74
1 2 .1
2 .1
69
5.8
13.1
49.4
1 .7
.4
4 7.3
70
71
66
67
68
12 .8
2.3
5.9
14.6
55.1
2 .0
2 .6
2 .8
6.9
15.6
65.4
22.0
3.9
10.0
22.6
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
(1)
CORPORATE INVENTORY VALUATION ADJUSTMENT AND CAPITAL CONSUMPTION ADJUSTMENT.
2 1 .1
3.8
9.8
2 1 .6
1 1 .6
10.0
22.9
95.5
4.5
.8
66
67
68
69
70
71
10 FEBRUARY 1976
FUNDS RAISED IN CREDIT MARKETS
FUNDS R AISED IN CREDIT MARKETS
2
SUMMARY OF FUNDS RAISED IN CREDIT MARKETS
UNADJUSTED NET FLOWS
UNADJU S T E D NET FLOWS
1975 UNADJUSTED NET FLOWS
I
II
III
(* MILL.)
IV
1962
1963
YEAR TOTALS ($ BILL.)
1964
1965
1966
1967
1968
CREDIT MARKET FUNDS RAISED BY NONFINANCIAL SECTORS
1
2
TOTAL FUNDS RAISED
BY NONFINANCIAL SECTORS
EXCLUDING EQUITIES
32.330
30.339
49.157
45.921
48.189
46 .478
67.584
64.934
53.4
53.1
57.9
58.1
67.7
66.4
69.9
69.6
67.9
66.9
82.4
80.0
95.9
95.9
1
2
3 U.S. GOVERNMENT
4
PUBLIC D EBT SECURITIES
5
A GENCY ISSUES ♦ M ORTGAGES
19.245
19.745
-500
16.615
16.704
-89
23.451
23.475
-24
25.906
25.925
-19
7.0
4.0
4.1
6.3
5.4
.9
1.8
6.2
.8
3.6
2.3
1.3
13.0
8.9
4.1
13.4
10.3
3.1
3
4
5
6 ALL OTHER NONFINANCIAL SECTORS
CORPORATE EQUITIES
DEBT INSTRUMENTS
13.085
1.991
11.094
32.542
3.236
29.306
24.738
1.711
23.027
41.6 78
2.650
39.028
46.4
.3
46.1
54.2
61.4
1.4
60.1
8
PRIVATE DOMESTIC
N O N FINANCIAL SECTORS
CORPORATE EQUITIES
DEBT INSTRUMENTS
11.275
1.933
9.342
29.566
3.223
26.343
21.963
1.713
20.250
37.213
2.6 50
34.563
44.3
.4
44.0
50.6
-.3
51.0
55.8
21.504
3.631
9.430
8.443
5.267
527
1.397
1.242
27.559
4.989
8.272
14.298
9.843
673
2.386
1.396
22.385
3.815
3.677
14.893
10.581
1.059
2.235
1.018
23.433
2.952
5.660
14.821
10.237
1.319
2.421
844
31.6
5.4
4.6
21.7
34.7
5.7
3.9
25.1
15.1
3.2
5.1
-12.162
-5.0 62
-10.320
1 .662
1.558
-1.216
1.076
-535
-2.636
879
-2.135
3.588
-5.558
-52
-113
11.130
5.686
3.860
-566
2.150
12.4
5.8
4.3
11.275
3.275
2.610
29.566
4.198
11.822
21.963
3.380
9.943
37.213
2.386
18.950
5.390
1.890
-1.663
5.163
3.230
1.933
13.546
2.282
247
11.017
7.794
3.223
8.640
1 .590
1.400
5.650
3.937
1.713
1.810
58
1.752
1.963
-1.279
104
964
2.976
13
2.963
988
1.956
-702
721
7
8
9
10
11
12
13
14
15
16
17
18
19
DEBT CAPITAL INSTRUMENTS
S. ♦ L. OBLIGATIONS
CORPORATE BONDS
MORTGAGES
HOME MORTGAGES
MULTI-FAMILY RES ID.
COMMERCIAL
FARM
12.8
2.8
4.8
1.3
-.1
53.9
- .2
57.0
1 .1
36.1
6.0
4.0
26.1
15.7
4.5
3.8
1.3
.5
68 .1
64.3
.3
67.9
b3 .3
69.4
2 .V
67.0
82.5
♦
82.6
65.4
♦
65.-4
62.6
1.3
61.5
65.4
2.4
63.0
79.9 11
36.4
7.3
5.4
25.6
15.4
3.6
4.4
38.2
5.6
44.5
7.8
14.7
1.0
10.2
22.3
11.7
3.1
5.7
1 .6
2 .1
2.2
1 .6
16.3
7.9
5.7
-.5
3.1
19.7
8.5
7.3
23.3
6 .4
10.9
3.6
27.1
9.6
13.6
-.3
4.1
44.3
5.9
50.6
20.6
25.1
57.0
6.3
28.0
65.4
7.7
28.3
15.877
984
2.559
12.334
9.684
2.650
17.9
2.3
3.2
12.4
19.6
22.8
2.6
4.5
12.5
12.0
12.8
5.3
14.9
13.7
.4
-.3
1 .1
2.775
4.465
2 .1
0
*
3.3
4.5
.2
4.465
2.195
1.141
629
500
2 .1
1.0
.1
2.777
996
1.882
-568
467
3.2
4.2
.5
41 MEMO: U.S. GOVT. CASH BALANCE
-122
1.286
1.729
TOTALS NET OF CHANGES IN U.S. GOVT. CASH BALANCES—
42 TOTAL FUNDS RAISED
32.452
47.871
46.460
43
BY U.S. GOVERNMENT
19.367
15.329
21.722
-5
1.3
67.589
25.911
52.1
5.7
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
OTHER DEBT INSTRUMENTS
CONSUMER CREDIT
BANK LOANS N.E.C.
OPEN-MARKET PAPER
OTHER
BY BORROWING SECTOR:
S. + L. GOVERNMENTS
HOUSEHOLDS
NONFINANCIAL BUSINESS
FARM
NONFARM NONCORPORATE
CORPORATE
DEBT INSTRUMENTS
EQUITIES
FOREIGN
CORPORATE EQUITIES
DEBT INSTRUMENTS
BONDS
BANK LOANS N.E.C.
OPEN -MARKET PAPER
U.S. G O V ERNMENT LOANS
-2
.1
2 .1
.4
*
.7
6.0
2.6
1.0
.6
.2
1.8
22.0
11.5
3.6
4.7
2.3
13
14
15
16
17
18
2.2 19
5.0
2.6
62 .8
6.3
22.7
t>5.4
7.9
19.3
79.7 25
9.8 26
30.0 27
29.4
3.3
5.7
20 .4
20.4
*
33.8
3.1
5.4
25.3
24.0
1.3
38.1
3.6
5.0
29 .6
27.2
2.4
39.9 28
2.8 29
5.6 30
31.5 31
31.7 32
- . 2 33
2.7
.3
2.4
.5
.5
1.5
-.3
4.0
2.8 34
.2 35
1.8
.1
4.0
.7
1.2
-.3
.5
1.5
1.3
-.4
.2
- 1.0
- •H
1.2
58.3
4.3
67.6
70.9
2.8
68.3
4.0
61.3
6 .1
12
13.6 22
1.8 23
5.0 24
1 .1
- .1
.4
49.5
9.5
12.9
27.1
15.1
3.4
6.4
9
10
30.4 20
1 .6
.5
-.2
7
18.5
4.5
9.8
1.7
-.2
-.1
1.2
79.7
6
2.6
11 .8
10.0 21
2.7 36
1 .1 37
-.5 38
- .2 39
2.2 40
-1 .1
41
97.1 42
14.5 43
CREDIT MARKET FUNDS RAISED BY F I N ANCIAL SECTORS
1
2
3
4
5
6
7
8
9
10
11
12
TOTAL FUNDS RAISED
BY FINANCIAL SECTORS
SPONSORED CREDIT AGENCIES
U.S. G O V ERNMENT SECURITIES
LOANS FROM U.S. GOVERNMENT
PRIVATE FINANCIAL SECTORS
CORPORATE EQUITIES
DEBT INSTRUMENTS
CORPORATE BONDS
MORTGAGES
BANK LOANS N.E.C.
OPEN-MARKET PAPER ♦ RP'S
LOANS FROM FHLB'S
13 TOTAL, BY SECTOR
14
SPONSORED CREDIT AGENCIES
15
16
17
18
19
20
21
22
23
PRIVATE FINANCIAL SECTORS
COMMERCIAL BANKS
BANK AFFILIATES
FOREIGN BANKING AGENCIES
SAVINGS ♦ LOAN ASSNS.
OTHER INSURANCE COMPANIES
FINANCE COMPANIES
REITS
OPEN-END INVESTMENT COS.
-598
2.166
4.160
5.547
7.4
9.4
6.4
13.3
11 .6
2 .1
18.4
1
2.056
1 .798
258
2.338
2.044
294
2.519
2.358
161
3.398
3.872
-474
1.5
1.5
*
1 .4
1 .5
.5
.4
2 .1
3.5
3.2
-.1
.1
.2
- .2
-.6
- .6
- .1
2
1.9
4.6
5.1
.2
3
4
-2.654
1.613
-172
-567
1.641
731
2.149
102
2.0
8.0
1.8
2.2
7.6
11 .2
7.0
3.6
2.7
3.1
15.0
6.5
6
-4 .2 67
2 57
1 18
-3.145
2.143
-3.640
395
246
1.287
187
36
-1.361
910
242
765
-1.224
448
679
2.047
572
3.9
.3
.4
3.2
.9
-.9
-.4
1.3
8.5
122
138
812
403
1 .1
1.2
.8
-598
2.0 56
2.166
2.338
4.160
2 .519
5.547
3.398
-2.0 54
2.256
611
-5 57
-4.460
-172
53
-175
104
-313
175
1.067
-563
-520
1.641
1.570
2.149
-125
-320
6 36
827
175
1.646
-443
-247
200
-2.258
-320
1.874
66
-1.153
1.901
175
-971
-346
399
5.9
6.2
1.7
.5
1.7
5.6
2.6
-.3
3.3
7.9
2.7
*
2.3
2 .3
.7
- 1.0
3.3
.9
4.8
2 .1
- .6
18.4 13
3.5 14
7.0
2.7
15.0 15
1.2 1 1>
17
.1 lb
1 .1 19
.5
7.4
1.5
9.4
1 .4
8.4
.5
13.3
11 .8
2 .1
5.9
11 .2
1.8
- .1
8.0
7.6
.3
1 .2
-
*
-
2.7
*
1.9
.3
4.0
-
-
-
1.7
1.5
2.0
1.2
.1
*
.3
-
-
♦
.1
.8
.1
.1
.1
.1
4.1
5.2
3.1
_
7
8
1.9
-2.5
.6
2 .1
1.3
.1
1 .1
.4 9
2.5 10
3.6 11
.9 12
1.0
-
1.0
- 2.0
5
.1
-
*
-1.7
.1
1.2
.2 20
5.7 21
.7 22
5.9 23
-
_
3.7
3.0
83.2
3.3
.3
79.7
3.7
64.5
3.0
2.5
114.4
5.9
.6
3
107.9
16.7
9.5
15.0
27.4
4
5
t>
7
10 .0
9
3.3
TOTAL CREDIT MARKET FUNDS RAISED, ALL SECTORS, BY TYPE
1 TOTAL FUNDS RAISED
2
INVESTMENT COMPANY SHARES
3
OTHER CORPORATE EQUITIES
31.732
1.874
1.730
51.323
-520
3.189
52.349
399
2.043
73.131
-247
2.999
60.8
1.7
4
5
DEBT INSTRUMENTS
U.S. GOV E R N M E N T SECURITIES
STATE ♦ LOCAL O B L IGATIONS
CORPORATE + FOREIGN BONDS
MORTGAGES
28.128
21.048
3.631
11.650
8.556
48.654
18.612
4.989
9.506
15.632
49.907
25.913
3.815
4.915
15.554
70.379
29.814
2.952
8.427
14.907
-5.062
-14.744
3.909
-860
1.076
1.608
-3.302
53?
3.588
-4.900
-172
1.194
5.6e6
5.139
875
2.579
6
7
8
9
10
11
12
CONSUMER CREDIT
BANK LOANS N.E.C.
OPEN-MARKET PAPER ♦ RP'S
OTHER LOANS
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
67.3
1.5
76.1
.1
1.5
58.5
8.3
5.4
5.9
22.4
65.8
5.5
5.7
72.5
6.7
74.9
6.6
79.7
3.7
7.3
7.1
25.9
8.6
1 1 .6
25.6
21.3
79.0
12.5
7.8
17.2
23.0
5.8
5.8
1.3
3.7
7.9
9.6
16.4
1.9
6.5
6.4
9.7
4.4
6.9
4.5
7.5
4.0
2.5
.6
25.6
2.0
6.0
8.5
9.7
8.0
1.0
2.8
5.5
5.9
1 .1
8.8
5.6
1
2
6
15.7 10
5.2 11
8.3 12
10 FEBRUARY 1976
FUNDS RAISED IN C REDIT MARKETS
SEASONALLY A DJUSTED ANNUAL RATES
1969
1970
1971
1972
FUNDS R AISED IN CREDIT MARKETS
3
SUMMARY OF FUNDS RAISED IN CREDIT MARKETS
(BILLIONS OF DOLLARS)
S EASONALLY ADJUSTED ANNUAL RATES
1973
1974
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
1975
C R EDIT MA R K E T FUNDS RAISED BY NONFINANCIAL SECTORS
1
2
91.8
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
98.2
92.5
147.4
135.9
169.4
158.9
187.4
180.1
180.1
176.2
197.3
187.7
164.3
156.3
200.8
-3.6
-1.3
-2. 4
12 .8
- .1
25.5
26.0
-.5
17.3
13.9
3.4
9.7
7.7
12 .0
12 .0
85.2
85.8
71.9
73.9
- 2.0
95.9
96.3
-.4
94.1
94.2
95.5
3.9
91.6
85.4
5.8
79.7
121.9
11.5
1 10.4
152.1
10.5
141.6
177.7
7.2
170.4
168.1
3.8
164.2
92.4
104.9
12.9
92.0
104.8
84.4
98.0
135.5
91.8
3.4
8 8.4
82.7
5.7
77.0
117.3
11.4
105.8
147.8
10.9
136.9
170.1
7.4
162.7
152.7
4.1
148.6
100.0
9.5
90.5
84.8
7.7
77.1
93.5
12.9
80.6
92.5
6.9
85.6
129.3
49.6
9.9
56.7
93.8
14.4
19.8
25.7
83.2
17.6
18.8
46.9
26.1
96.1
13.7
9.2
73.2
43.3
8.4
17.0
4.4
92.9
17.4
19.7
55.9
31.7
7.8
11.5
4.9
94.9
15.4
27.0
52.5
35.9
3.6
8.4
4.5
98.3
14.0
40.1
44.2
28.3
3.7
7.4
4.8
103.7
12 .0
80.8
14.5
14.6
51.6
35.4
4.3
66 .6
55.6
9.6
27.3
-4.4
5.3
- 12 .6
- 1 .6
4.5
-21.3
-2.5
-24.7
3.5
2.4
88.0
27.7
15.7
4.7
5.3
1.9
12.9
1 1 .2
12 .8
5.8
5.3
1 .8
8.8
10 .0
2.0
20.3
6.0
22 .6
1 1 .2
23
24
38.8
10.4
15.5
3.0
9.9
6.7
3.0
4.6
25
26
27
91.8
10.7
31.7
28
29
30
31
32
33
34
35
36
37
38
39
40
12 .2
67.3
39.6
10.3
14.8
2 .6
2.0
«
-.6
112 .0
9.6
102.5
8.0
7.8
- 1.2
4.8
43.0
19.2
18.9
-.5
5.5
22.9
35.8
-.4
8.3
82.7
11.3
2 3.4
117.3
17.8
39.8
147.8
14.2
63.1
170.1
12.3
72.8
152.7
16.6
44.0
100.0
84.8
13.2
43.3
35.5
4 9.4
3.2
7.4
38.9
35.5
3.4
48.0
3.2
5.3
39.5
33.8
5.7
59.6
4.1
8.7
46.8
35.4
11.4
70.5
4.9
10.4
55.3
4 4.4
10.9
85.1
92.1
7.8
7.2
77.1
73.0
4.1
43.5
6.7
2.5
34.2
24.6
9.5
3.7
.5
3.2
2.7
4.6
*
4.6
.9
4.3
-.4
4.7
15.4
-.3
15.7
1 .6
2 .2
12.0
.1
12 .0
6 .1
2.9
- 1.0
4.7
7.1
1.7
3.7
-.5
2.7
1.0
- .2
.1
2.7
.9
-.3
.3
.8
2 .1
1.3
.3
1.8
1 .0
1 .8
8.6
9.3
67.2
59.7
7.4
7.5
- .2
7.7
1.0
2.8
2 .2
1.7
6 .6
1 2 .1
2 0 .1
30.5
53.0
36.8
1.7
9.6
4.9
198.9
192.1
- .1
6.8
225.0
214.4
146.1 ALL OTHER NONFINANCIAL SECTORS
10 .6
CORPORATE EQUITIES
D EBT INSTRUMENTS
10 .6
118.7
96.7
12 .8
23.0
61.0
43.3
4.6
8.0
8.8
4.0
4.3
-23.1
-.6
4.9
1 1 .6
22.0
-17.9
-6.5
12.7
4.1
-1.9
7.1
92.5
129.3
2.0
93.5
17.0
39.3
41.7
56.8
7.7
37.2
5.9
-.7
32.0
19.1
12.9
38.0
7.6
4.5
26.0
19.1
6.9
62.0
6.7
6.3
49.0
3 8.4
7.6
11.4
12.3
*
12.3
4.0
12 .6
36.6
6.8
.1
29.7
22.0
.2
7.3
7.9
-4.8
.4
3.9
.4
2 .8
3.2
-.3
-1.7
-4.6
2.9
7.4
42
43
91.4
-4.0
95.5
144.2
22.3
169.7
17.6
189.0
11.4
184.7
16.6
194.4
82.3
156.9
64.6
.1
11.3
4.0
7.3
- 2 .8
2.9
12 .8
8.8
- 2.3
1.9
TOTAL FUNOS RAISED
BY NONFINANCIAL SECTORS
EXCLUDING EQUITIES
78.9 U.S. G O VERNMENT
79.0
PUBLIC DEB T SECURITIES
- .1
A GENCY ISSUES ♦ MORTGAGES
-11.7
-1.4
6.3
41
10 .0
187.9
10 .6
10 .6
16.8
16.8
8.8
3.5
2.5
2.0
PRIVATE DOMESTIC
N O NFINANCIAL SECTORS
C ORPORATE EQUITIES
O EBT INSTRUMENTS
9
10
11
DEBT CAPITAL INSTRUMENTS 12
S. + L. OBLIGATIONS
13
CORPORATE BONDS
14
M O R TGAGES
15
HOME MORTG A G E S
16
MULTI-FAMILY RESID.
1?
COMMERCIAL
18
FARM
19
OTHER DEBT INSTRUMENTS
CONSUMER C REDIT
BANK LOANS N.E.C.
O P E N - MARKET PAPER
O THER
BY BORROWING SECTOR:
S. ♦ L. GOVERNMENTS
HOUSEHOLDS
NONFINANCIAL BUSINESS
FARM
NONFARM NONCORPORATE
C ORPORATE
DEBT INSTRUMENTS
EQUITIES
FOREIGN
CORPORATE EQUITIES
DEBT INSTRUMENTS
BONOS
BANK LOANS N.E.C.
O PEN-MARKET PAPER
U.S. GOVER N M E N T LOANS
- 1.7
12 .2
- 6. 3 1
U.S. GOVT. CAS H BALANCE
TOTALS NET OF CHANGES II
202.5
186.7
231.3
97.6
81.9
85.2
BY U.S. GOVERNMENT
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
CREDIT MARKET FUNDS RAISEO EY FINANCIAL SECTORS
1
33.8
12.7
16.6
29.1
52.0
38.0
11.3
10 .6
- .1
17.9
16.7
2
8.8
3
4
9.1
-.3
8 .2
8 .2
3.8
3.8
“
6 .2
6 .2
19.6
19.6
~
2 2 .1
10.3
21.4
.7
10 .1
.2
10.5
9.4
7.6
6.5
7.9
7.3
.6
15.2
17.1
-1.9
5
25.0
6.3
4.5
4.7
12 .8
22.9
3.4
2 .6
32.4
15.9
1.7
1.0
.1
-7.7
- 1 .6
9.9
3.6
- .2
7
18.8
1.5
9.3
5.1
20.3
7.0
1.7
- 6 .1
1.7
6.4
6
10
11
12
2.3
10.7
4.0
-.3
3.1
.7
-.5
-5.0
1.3
13
14
33.8
12.7
15
16
17
18
19
25.0
1.4
4.2
8
9
20
21
22
23
.2
8.8
.2
4.1
.5
8.3
1.3
4.9
2 .1
3.0
6.8
1.8
4.9
*
-2.7
16.6
3.8
29.1
4.5
-3.1
-1.9
12.8
.1
1.8
1 .6
- .1
.6
22.9
4.0
.7
8.2
.4
1 .6
2.7
2.8
2.5
-.4
4.2
3.0
1.3
6 .2
.8
2.0
.5
9.3
.8
31.6
2.3
- 1 .2
13.5
9.8
7.2
52.0
19.6
32.4
4.5
2 .2
5.1
6 .0
6 .1
.5
9.4
6.3
-.5
- 1 .6
14.2
1.4
-1.3
7.5
-.1
6.7
38.0
2 2 .1
15.9
-1.9
2.4
2.9
6.3
.4
3.9
1 .2
1.9
5.8
-.9
1.3
2.3
-4.0
3.4
-3.9
-5.7
1.4
1.3
- 8.6
10.7
-10.5
-3.3
-1.5
-5.7
11.3
10.3
10 .6
- .1
10.5
7.6
1.0
.1
-7.7
3.8
9.0
2.4
.2
- 1.0
- 2.0
.7
-.5
-1.7
1.5
1 .0
1 .0
1.0
- 2.2
- 1 1 .2
.8
-4.2
-1.3
6.8
2 .8
.2
-.7
.4
-4.7
.7
*
-2.3
- 1.4
1.0
3.5
-3.4
5.5
- .2
1.5
1.7
1 .2
1 .6
-.9
-.9
.7
TOTAL FUNOS RAISED
BY FINANCIAL SECTORS
1
S PONSORED CREDIT AGENCIES
U.S. GOVERNMENT SECURITIES
LOANS FROM U.S. GOVERNMENT
2
3
4
PRIVATE FINANCIAL SECTORS
CORPORATE EQUITIES
6
DEBT INSTRUMENTS
CORPORATE BONDS
MORTGAGES
BANK LOANS N.E.C.
OPEN-MARKET PAPER ♦ RP»S
LOANS FROM FHLB'S
5
7
8
9
10
11
12
17.9
7.9
16.7 TOTAL,
1
BY SECTOR
15.2
S PONSORED CREDIT AGENCIES
13
14
9.9
6.3
.3
-4.6
5.3
.7
1.5
-.5
-1.3
2.5
2.4
.7
15
16
17
18
19
20
21
22
23
1 .1
-1.4
2 .2
1 .0
- 1.8
- 1 .6
PRIVATE FINANCIAL SECTORS
COMMERCIAL BANKS
BANK AFFILIATES
FOREIGN BANKING AGENCIES
SAVINGS ♦ LOAN ASSNS.
OTHER INSURANCE COMPANIES
FINANCE COMPANIES
REITS
OPEN-END INVESTMENT COS.
TOTAL C REDIT MARKET FUNDS RAISED, ALL SECTORS, BY TYPE
1
2
3
11
12
125.6
4.9
5.2
110.9
115.5
5.5
9.9
14.5
27.8
100.4
10.4
17.6
14.1
15.8
164.0
1.3
13.6
198.5
-.5
13.6
239.3
- 1 .6
9.6
218.1
1 .0
208.5
1.5
174.8
4.6
10.0
6.9
185.4
23.6
14.4
23.8
26.4
149.1
29.4
17.6
24.8
48.9
2 31.3
29.4
13.7
12.5
71.9
212.5
33.5
17.4
23.3
54.5
197.1
95.4
15.4
34.5
54.6
161.1
81.4
14.0
49.4
45.4
6 .0
1 1 .2
5.8
- 1 .2
7.3
12.4
.9
3.9
19.2
28.5
3.3
7.4
22.9
52.1
9.6
39.5
13.6
5.3
-12.9
1.3
3.4
-2.5
-38.1
14.6
-3.2
2.8
7.7
2 1 .1
1 1 .2
20.2
68.8
1 1 .6
17.2
2 1 .1
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
6.8
200.8
216.8
12 .8
2.2
8 .2
189.5
206.4
102.2
2 0 .1
101.8
-1.4
14.5
36.1
56.0
- .6
1 1 .6
-13.9
- 10.8
.3
-6.3
1.8
241.7 1OTAL FUNOS RAISED
- 1 .6
INVESTMENT C OMPANY SHARES
12 .0
OTHER CORPORATE EQUITIES
231.3
9 6.1
12.8
3 2.9
62.4
12.7
6.7
-.3
8.0
1
2
3
OEBT INSTRUMENTS
U.S. GOVERN M E N T SECURITIES
STATE ♦ LOCAL OBLIGATIONS
CORPORATE ♦ FOREIGN BONDS
MORTGAGES
4
5
CONSUMER CREDIT
BANK LOANS N.E.C.
OPEN-MARKET PAPER ♦ R P *S
OTHER LOANS
9
10
11
12
6
7
8
10 FEBRUARY 1976
CREDIT MARKET S UPPLY OF FUNDS
4
CREDIT MARKET SUPPLY OF FUNDS
DIRECT AND INDIRECT SOURCES OF FUNDS TO CREDIT MARKETS
UNADJUSTED NET FLOWS
U N ADJUSTED NET FLOWS
1975 UNADJUSTED NET FLOWS
I
II
HI
1
TOTAL FUNDS ADVANCED IN CREDIT MARKETS
TO NONFINANCIAL SECTORS
30.339
($ MILL. I
IV
1962
1963
58.1
45.921
46.478
64.934
53.1
14.038
12.441
3.732
-3.640
1.505
5.732
2.374
4.017
-1.361
702
7.755
720
4.520
679
1.8 36
7.036
1.703
4.750
403
180
7.0
3.6
4.167
2.702
2.393
4.776
1.156
2.618
1.471
487
2.982
1.788
3.586
-601
2.056
2.338
18.357
8.607
3.631
11.163
2.067
- 10.751
-3.640
YEAR TOTALS ($ BILL.)
1964
1965
1966
1967
1968
66.4
69.6
66.9
80.0
95.9
7.8
3.5
8.9
3.7
.4
.7
4.1
11.9
3.4
11.3
12 .2
2
3.4
3
4
5
- 1.6
1
BY PUBLIC AGENCIES ♦ FOREIGN
2 TOTAL NET ADVANCES, BY TYPE
3
4
5
U.S. G OVERNMENT SECURITIES
RESIDENTIAL MORTGAGES
FHLB ADVANCES TO S«-L»S
OTHER LOANS ♦ SECURITIES
TOTALS ADVANCED, BY SECTOR
U.S. G OVERNMENT
SPONSORED CREOIT AGENCIES
MONETARY AUTHORITIES
FOREIGN
AGENCY BORROWING NOT INCLUDED
IN LINE 1
6 .6
2.8
6.8
2 .1
.9
4.8
-2.5
4.9
4.9
5.1
3.5
4.6
4.8
2.0
4.9
7
3.2
8
3.7
9
.3 10
2 .1
4.8
- .6
3.5 11
6 8 .1
.1
.8
3.8
-1.3
1.3
2.5
2.8
.5
3.9
2.274
4.434
1.087
-759
2.0
1 .6
2.0
1.5
2.8
1.4
2.9
.7
.7
3.4
.9
2.8
2.2
2.8
.1
2.519
3.398
1.5
1.4
.5
42.527
16.238
4.989
9.422
6.546
3.971
-1.361
41.242
25.193
3.815
4.773
7.016
1.124
679
61.296
28.111
2.952
7.915
6.770
15.951
403
47.6
4.7
5.4
5.5
15.8
17.1
53.0
59.2
3.2
8.736
-13.639
12.648
9.927
28.161
6.093
14.990
9.771
-2.693
42.938
18.633
10.836
9.886
3.583
48.0
19.0
14.0
-2 00
41.870
15.467
17.584
10.079
-1.260
24 SOURCES OF FUNDS
25
PRIVATE DOMESTIC DEPOSITS
26
CREDIT MARKET BORROWING
8.736
8.242
-4.267
41.870
37.307
395
28.161
13.596
910
42.938
35.108
2.047
27
28
29
30
31
4.761
-3.831
-8 57
6.636
2.813
4.168
-281
-833
7.133
-1.851
13.655
1.902
103
6.479
5.171
6
7
8
9
10
11
1 .6
- .2
- .1
2.8
.9
5.1
6
PRIVATE DOMESTIC FUNDS ADVANCED
12 TOTAL NET ADVANCES
13
14
15
16
17
18
U.S. GOVERNMENT SECURITIES
STATE ♦ LOCAL OBLIGATIONS
CORPORATE ♦ FOREIGN BONDS
RESIDENTIAL MORTGAGES
O THER MORTGAGES ♦ LOANS
LESS: FHLB ADVANCES
5.7
4.8
19.7
22.4
1.3
6.0
62.8
*
7.3
4.3
20.4
25.9
.5
6.0
59.8
5.4
5.6
10.3
18.6
31.6
.7
50.3
17.6
17.4
11.7
3.6
56.9
22.7
16.2
12.7
5.2
48.0
30.4
3.9
50.3
31 .1
56.9
34.9
5.6
5.783
2.434
-50
7.835
-4.436
13.8
.5
13.0
1.5
.8
1.6
12
27.4
.9
5.7
7.8
16.0
13.0
23.1
-2.5
87.2
13.3
9.5
13.8
15.5
35.9
.9
62.9
28.7
14.3
13.6
6.2
45.4
17.5
7.9
15.5
4.5
63.5
35.9
15.0
12.9
-.3
75.3
38.7
15.6
14.0
7.0
62 .9
38.4
7.9
45.4
22.5
3.2
63.5
50.0
-.4
75 .3 24
45.9 25
8.5 26
16.6
- 1.0
11.4
5.4
19.7
3.7
-.5
13.6
3.0
13.9
2.3
21.0 27
2.6 28
- .2 29
7.9
2.9
17.6
8.4
4.2
-1.4
-2.5
4.6
1.9
1.7
20.4 32
8 .1 33
- .2 34
4.6 35
5.8 36
2 .1 37
52.1
39.3
4.3
18.3
16.7
48.3
33.9
3.5
17.5
12.9
12 .0
13
14
15
16
17
18
PRIVATE FINANCIAL INTERMEDIATION
19
20
21
22
23
CREDIT MARKET FUNDS ADVANCED
BY PRIVATE FINANCIAL INSTS.
C OMMERCIAL BANKING
SAVINGS INSTITUTIONS
INSURANCE ♦ PENSION FUNDS
OTHER FINANCE
O THER SOURCES
FOREIGN FUNDS
TREASURY BALANCES
INSURANCE ♦ P ENSION RES.
OTHER, NET
1 1 .2
3.8
6.2
16.4
2.5
*
1 .2
8.8
-.6
10 .2
3.3
1.9
8.9
4.5
7.9
1.8
2.4
11 .2
2.8
.8
.2
12.0
-.6
19
20
21
22
23
11.4 30
7.2 31
PRIVATE DOMESTIC N O NFINANCIAL INVESTORS
32 DIRECT LENDING IN C R . MARKETS
33
U.S. G OVERNMENT SECURITIES
34
STATE ♦ LOCAL OBLIGATIONS
35
CORPORATE ♦ FOREIGN BONDS
36
OPEN-MKT PAPER ♦ RP'S
37
OTHER
5.354
-4.331
3.660
3.690
3.472
-1.137
1.052
-526
2.160
1.902
-3.010
526
13.991
10.646
2.269
2.282
-1.638
432
20.405
15.307
1.675
-275
246
3.452
3.4
1.4
-.9
*
.7
38 DEPOSITS + CURRENCY
39
TIME + SAVINGS ACCOUNTS
40
LARGE NEGOTIABLE CD'S
41
OTHER AT COMMERCIAL BANKS
42
AT SAVINGS INSTITUTIONS
7.610
26.620
-4.171
13.215
17.576
40.948
21.329
-6.981
9.881
18.429
12.976
16.580
2.509
2.850
11.2 2 1
38.743
21.604
-820
10.250
12.174
-19.010
-18.378
-632
19.619
15.978
3.641
-3.604
-2.984
-620
TOTAL OF CREDIT M A RKET INSTRU
MENTS, DEPOSITS ♦ CURRENCY
12.964
42.000
47 PUBLIC HOLDINGS AS % OF TOTAL
48 PVT. FINAN. INTERMEDIATION (?)
49 TOTAL FOREIGN FUNDS
46.270
47.589
945
12.482
98.455
206
43
44
45
46
MONEY
DEMAND DEPOSITS
CURRENCY
1 .0
*
.9
1.7
.2
2.2
2.0
31.0
28.2
2.7
12.4
13.1
33.7
28.7
3.4
36.6
29.1
10.2
2.2
1 1 .1
15.1
15.8
17.139
13.504
3.635
2.8
2.2
.6
5.0
2.4
2.6
26.967
59.148
34.4
16.685
68.282
1.301
10.835
70.0 50
1.675
13.2
2.2
10 1.0
1.9
2.6
1.0
1.5
- .1
2.6
2.0
2.3
2.3
40.5
32.7
3.6
16.0
13.2
24.4
20.3
7.5
5.8
1.7
7.8
5.6
4.1
2 .1
2 .1
2.0
12.8
10.6
2 .1
14.5 43
12 .1 44
2.4 45
42.6
44.4
46.4
42 .0
56.3
68.7 46
11.4
94.9
11.7
96.2
3.3
12.8
100.1
.8
17.9
75.9
14.1
93.2
4.3
12.7 47
86.4 48
2.9 49
2.2
- .2
13.3
7.2
2 .1
36
39
40
41
42
CORPORATE EQUITIES NOT INCLUDED ABOVE
1 TOTAL NET ISSUES
2
MUTUAL FUND SHARES
3
OTHER EQUITIES
4 ACQ. BY FINANCIAL INSTITUTIONS
5 O THER NET PURCHASES
3.604
1.874
1.730
2.669
-520
3.189
2.442
399
2.043
2.752
-247
2.999
2.3
1.7
1.439
2.165
2.362
307
-63
2.505
4.572
-1.820
4.3
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
.6
- 2.0
1 .6
3.6
1.5
2.0
.1
3.6
3.3
.3
4.8
3.7
1 .1
5.6
3.0
2.5
6.5
5.9
1.5
1
2
3.9
-2.4
4.1
6 .1
- .6
9.1
-3.5
10.8
-2.5
6.0
- 1.2
4
5
.6
-4.3
3
10 FEBRUARY 1976
CREOIT MARKET SUPPLY OF FUNDS
CREDIT MARKET SUPPLY OF FUN^S
DIRECT AND INDIRECT SOURCES OF FUNOS TO CREDIT MARKETS
(BILLIONS OF DOLLARS)
SEASONALLY A DJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNU A L RATES
I
II
III
IV
92.5
135.9
158.9
180.1
176.2
187.7
156.3
187.9
15.7
.7
4.6
4.0
6.3
28.1
15.9
5.7
1.3
5.2
41. 7
33.8
5.7
-2.7
4.9
18.3
8.4
5.2
#
4.6
33.2
49.2
7.6
7.2
7.5
13.8
6.7
34.6
17.2
17.0
-3.9
4.2
56.7
45.6
16.5
-10.5
5.1
23.1
11.0
16.1
2 .8
10 .0
7.0
.3
8.4
3.0
20.3
9.2
.7
7.4
24.1
10 .6
5.0
10.3
3.2
3.2
8.9
26.4
2 .6
10
2.9
8.9
4.2
-.3
6 .2
1 1 .6
11.5
8.5
3.9
17.4
11.9
9.0
18.1
11
8.8
8 .2
3.8
6 .2
19.6
2 2 .1
10.3
10.5
TOTAL FUNDS ADVANCED IN C REDIT MARKETS
192.1
214.4
TO N O N F I NANCIAL SECTORS
BY PUBLIC AGENCIES ♦ FOREIGN
2
3
4
5
6
7
8
9
1 1 .0
8 .6
20 .1
29.2
4.3
16.6
-.2
8 .6
11.7
6 .2
19.8
-8. 4
7.6
7.9
29.3 TOTAL NET ADVANCES* BY TYPE
8.1
U.S. GOVERNMENT SECURITIES
18.9
RESIDENTIAL MORTGAGES
.7
FHLB ADVANCES TO S^L«S
OTHER LOANS ♦ SECURITIES
TOTALS ADVANCED, BY SECTOR
8.8
U.S. G O V ERNMENT
17.7
SPONSORED CREDIT A GENCIES
.4
MONETARY AUTHORITIES
2.4
FOREIGN
AGENCY BORROWING NO T INCLUDED
15.2
IN LINE 1
2
3
4
5
6
7
8
9
10
11
PRIVATE DOMESTIC FUNDS ADVANCED
12
81.1
4.8
9.9
12.5
15.7
42.2
4.0
13
14
15
16
17
18
72.6
5.2
98.1
-4.4
17.6
19.5
29.1
33.7
-2.7
1 1 .2
20.0
12 .8
24.6
1.3
146.7
15.2
14.4
13.2
44.6
59.5
*
166.5
18.4
13.7
149.1
24.9
17.4
1 0 .1
20.6
44.1
87.4
7.2
25.6
67.4
6.7
163.4
78.1
15.4
33.3
22.4
10.3
-3.9
1 1 0 .1
35.7
14.0
47.1
15.5
-12.7
-10.5
172.5
91.2
170.8
97.5
14.5
19.0
2 0 .1
35.1
22.6
22 .6
16.9
-2.3
-5.7
-.2
200.3 TOTAL NET ADVANCES
88.0
U.S. GOVERNMENT SECURITIES
12 .8
STATE ♦ LOCAL OBLIGATIONS
32.0
CORPORATE ♦ FOREIGN BONDS
28.8
RESIDENTIAL MORTGAGES
39.4
OTHER MORTGAGES ♦ LOANS
.7
LESS: FHLB ADVANCES
12
13
14
15
16
17
18
PRIVATE FINANCIAL INTERMEDIATION
19
20
21
14.5
12.7
9.9
55.3
2 .6
25
26
18.8
27
28
29
30
31
34.0
9.3
*
32
33
34
35
36
37
44.5
17.0
8.7
38
39
40
41
42
5.4
-2.3
-13.7
3.4
43
44
45
7.7
4.8
2.8
46
49.9
47
48
49
17.8
68.3
9.1
10 .8
13.8
74.9
35.1
16.9
17.3
5.7
110.7
50.6
41.4
13.3
5.3
153.3
70.5
49.3
17.7
15.8
158.8
74.9
63.2
-.3
110.7
90.3
9.3
153.3
97.5
20.3
35.5
5.2
.7
13.1
16.5
121.7
26.6
56.1
39.7
15.0
- .6
79.2
-15.9
52.6
35.2
7.3
151.4
49.5
65.2
44.3
-7.6
127.5
37.5
57.4
38.2
-5.7
128.8
35.2
49.2
40.9
3.6
158.8
84.9
31.6
131.5
76.5
14.2
121.7
94.3
-.9
79.2
68.4
-5.7
151.4
142.4
- 6 .1
127.5
74.1
6.4
128.8 SOURCES OF FUNDS
92.1
PRIVATE DOMESTIC DEPOSITS
1.7
CREDIT MAR K E T BORROWING
42.3
6.5
- 1.0
16.7
40.8
13.6
-5.1
27.9
4.4
28.4
- 1.6
28.1
1.7
16.4
-13.4
4.0
25.8
*
15.1
- 2 .6
- 8.2
29.5
-3.6
47.0
9.2
5.3
25.7
6.9
39.3
18.8
4.4
31.8
18.1
40.8
2 1 .1
10.8
25.5
-16.9
14.1
12 .8
14.7
7.6
8.9
5.6
1 .1
- 10 .6
3.2
49.7
34.0
8.5
7.3
-3. 4
3.3
73.2 DIRECT LENDING IN CR. MARKETS
59.6
U.S. GOVERNMENT SECURITIES
7.7
STATE ♦ LOCAL OBLIGATIONS
4.7
CORPORATE ♦ FOREIGN BONDS
-4.2
OPEN-MKT PAPER ♦ RP»S
5.5
OTHER
32
33
34
35
36
37
75.3
90.5
-16.7
40.7
66.5
150.2
92.7
-27.9
49.3
71.3
78.6
67.8
97.0 DEPOSITS ♦ CURRENCY
93.5
TIME ♦ SAVINGS ACCOUNTS
-3.3
LARGE NEGOTIABLE CD'S
48.5
OTHER AT COMMERCIAL BANKS
48.3
AT SAVINGS INSTITUTIONS
36
39
40
41
42
35.1
2 2 .1
12.0
1 1 .0
-8.5
2.9
13.1
4.4
-3.2
- 2 .6
-9. 0
- 1 .2
10.7
-4.4
1.4
-3.2
-14.0
1 .1
-1.7
1.5
.8
11.3
3.8
2.9
66 .6
56.1
15.0
24.2
16.9
93.7
81.0
7.7
32.9
40.4
101.9
85.2
8.7
30.6
45.9
76.3
18.5
29.5
28.2
10.5
7.1
3.5
12.7
9.3
3.4
16.7
12.3
4.4
12 .6
8 .6
3.9
64.1
90.5
115.7
30.4
103.1
30.7
11.5
104.5
13.6
2 .2
9.1
2.9
CREDIT MARKET FUNDS ADVANCED
BY PRIVATE FINANCIAL INSTS.
COMMERCIAL BANKING
SAVINGS INSTITUTIONS
INSURANCE ♦ PENSION FUNDS
OTHER FINANCE
131.5
64.6
26.9
34.3
5.7
8 6.6
2 0 .1
.2
35.0
7.7
-7.5
31.3
3.4
OTHER SOURCES
FOREIGN FUNDS
TREASURY BALANCES
INSURANCE ♦ PENSION RES.
OTHER, NET
19
20
21
22
23
24
25
26
27
28
29
30
31
PRIVATE DOMESTIC NONFINANCIAL INVESTORS
6 .6
10 .2
2.0
8.0
1 .8
.6
2 .1
9.3
5.2
4.0
-.6
11 2 .8
23.2
88.8
1 .6
14.4
82.8
71.9
23.6
26.6
100.3
2 1.8
-9.5
36.2
59.4
10.8
14.1
4.5
6.3
8 .1
6.0
-15.1
- 22.0
6.9
57.4
49.6
7.8
10 .8
128.2
114.6
141.1
100.8
164.9
128.3
18.4
95.4
7.2
27.9
18.4
74.5
4.1
36.3
71.9
4.7
12.3
87.8
15.2
74.6
.7
13.7 PUBLIC HOLDINGS AS * OF TOTAL 47
64.3 PVT. FINAN. INTERMEDIATION (X) 48
1 0 .1 TOTAL FOREIGN FUNDS
49
10.4
10.4 TOTAL NET ISSUES
-1.6
MUTUAL FUND SHARES
12.0
OTHER EQUITIES
3
12.3 ACO. BY FINANCIAL INSTITUTIONS
-1.8 OTHER NET PURCHASES
4
5
8 6 .1
88.2
25.1
10.0
6.3
51.5
6.3
4.5
1 .0
3.4
-1.5
4.9
MONEY
DEMAND DEPOSITS
CURRENCY
TOTAL OF CREDIT M ARKET INSTRU170.2
MENtS, D E P OSITS ♦ CURRENCY
46
CORPORATE EQUITIES NOT INCLUDED ABOVE
1 0 .1
10.5
4.9
5.2
7.7
14.9
1.3
13.6
13.1
-.5
13.6
- 1.6
9.6
1.0
11.5
1.5
13.7
3
10.0
6.8
4.6
11.3
-1.4
6.9
12 .8
2 .2
8.2
4
5
- 2 .1
11.4
-.9
19.3
-4.4
16.0
-2.9
13.4
-5.4
6 .1
-.5
8.3
3.2
11.3
2.4
9.5
1.9
.2
10 .2
1
2
12 .2
2.8
8.0
5.6
1
2
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
Line
1.
Page 2, line 2.
30.
Excludes net investment of these reserves In corporate equities.
2.
Sum of lines 3-6 or 7-10,
31.
Mainly retained earnings and net miscellaneous liabilities.
32.
Line 12 less line 19 plus line 26.
6.
11.
12.
Includes farm and commercial mortgages.
Credit market funds raised by Federally-sponsored
credit agencies. Included below in lines 13 and
33. Includes all GNMA-guaranteed security issues
backed by mortgage pools.
Line 1 less line 2 plus line 11. Also line 19 less
line 26 plus line 32. Also sum of lines 27, 32, 39,
and 44.
17.
Includes farm and commercial mortgages.
25.
Lines 39 + 44.
26.
Excludes equity issues and Investment company shares.
Includes line 18.
28.
Foreign deposits at commercial banks, bank borrowings from
foreign branches, and liabilities of foreign banking
agencies to foreign affiliates.
29.
Demand deposits at commercial banks.
33-37.
39-44.
45.
Lines 13-17 less amounts required by private finance.
includes mortgages.
See line 25.
Mainly an offset to line 9.
46.
Lines 32 + 38 or line 12 less line 27 plus line 45.
47.
Line 2/llne 1.
48.
Line 19/line 12.
49.
Line 10 plus 28.
Corporate Equities
Line
1. and 3.
Includes issues by financial institutions.
Line 37
HOUSEH O L D S
10 FEBRUARY 1976
HOUSEHOLDS
6
SECTOR STATEMENTS OF SAVING AND INVESTMENT
UNADJUSTED NET FLOWS
IMADJUSTED NET FLOUS
1 9 7 5 U N A D J U S T E D NET FLOWS <* HILL.I
I
II
III
IV
Y E A R T O T A L S 18 BILL.I
1964
1965
1966
1962
1967
HOUSEHOLDS, PERSONAL TRUSTS, AND NONPR O F I T O R G A NIZATIONS
289.980 304.429 316.091 335.475
43. 2 2 5 35.693 47.1 2 8 43.154
440.7
56.8
463.1
60.3
49 5 . 7
58.6
537.0
64.9
584.9
74.5
626.6
82.1
685.2
97.1
1
2
246.755 2 68.736 268.963 292.321
DISPOSABLE PERSONAL INCOME
227.309 244.276 246.159 269.531
PERSONAL O UTLAYS
19.446 2 4 . 4 6 0 22.804 22.790
PERSONAL SAVING, NI A BASIS
2.082
9 .238
1.117
3.901
CREDITS FROM GOVT. INSURANCE
107
5
10
59
CAPITAL GA I N S DIVIDENDS
-3.693
1.155
498
8.021
NET D URABLES IN C O N S U MPTION
383.9
3 63.5
2 0.4
3.5
.5
4.5
402.8
384.0
18.8
3.9
.5
6.9
43 7 . 0
410.9
26.1
4.4
510.4
477.4
33.0
5.6
1.3
12.9
544.5
503.7
40.9
5-5
1.7
10.2
5 88.1
550.1
38.1
6.1
2.5
14.4
3
4
5
6
7
8^
1 PERSONAL INCOME
2 - PERSONAL T A XES ♦ NONTAXES
8.8
472.2
441.9
30.3
4.7
.9
12.0
17.942
35.481
53.423
34.858
36.632
71.490
24.429
37.311
61.740
34.771
38.180
72.951
28.9
50.6
79.5
30.1
53.3
83.4
39.9
56.9
96.8
48.0
60.6
108.6
52.8
65.0
117.9
58.3
70.3
128.6
61.0 9
7 7.9 10
139.0 11
12 GROSS INVESTMENT
13
CAPITAL EXPENO.-NET OF SALES
14
RE S I D E N T I A L C O NSTRUCTION
15
CONSUMER D URABLE G OODS
16
NONPROFIT PLANT ♦ EQUIP.
59.552
35.988
9.106
25.557
1.325
74.029
38.962
6.101
31.380
1.481
66.914
40.931
8.162
31.248
1.521
74.645
52.865
11.978
39.465
1.422
86.6
6 9. 6
19.7
46.7
3.2
91.8
75.5
20.7
51.4
3.4
105.9
81.9
21.9
56.3
3.7
116.9
88.8
21.9
62.8
4.1
131.2
93.6
21.4
67.7
4.5
135.2
93.5
19.3
69.6
4.5
146.8
108.4
23.8
80.0
4 .5
17 NE T FINANCIAL INVESTMENT
18
NET ACO. OF FINANCIAL ASSETS
23.564
26.763
35.067
48.399
25.983
35.650
21.780
41.325
17.0
37.7
16.3
43.7
24.0
52.2
28.1
57.6
37.6
60.8
41.7
65.4
3 8 . 4 17
72.1 18
3
4
5
6
7
B
*
«
♦
♦
♦
9 « NET SAVING
10 ♦ CAPITAL CONSUMPTION
11 - GROSS SAVING
19
20
12
13
14
15
16
17.208
DEP. ♦ C R. MKT. INSTR. Cl)
-13.754
DEMAND DEP. ♦ CURRENCY
33.6 5 4
15.446
27.688
“650
34.223
7.178
27.5
1-6
32.8
3.2
37.8
4.5
40.2
7.7
41.6
3 .9
48.8
11.2
54.3 19
12.3 20
24.6
9.5
15.1
27.4
11.6
15.8
28.0
14.9
13.2
20.5
13.2
7.3
34.8
18.1
16.7
30.3 21
17.4 22
12.9 23
11.7
5.6
-.8
4.6
.7
1.5
21
22
23
TIME ♦ SAVINGS ACCOUNTS
AT C O MMERCIAL BANKS
AT SAVINGS INST.
30.2 8 3
12.707
17.576
23.053
4. 6 2 4
18.429
17.028
5.807
11.221
21.411
9.237
12.174
25.7
12.6
13.1
24
25
26
27
28
29
CREDIT MKT. INSTRUMENTS
U.S. GOVT. SECURITIES
S. ♦ L. OBLIGATIONS
CORPORATE ♦ F6 N. BONOS
C OM MERCIAL PAPER
MORTGAGES
679
-6. 2 8 4
3.289
3.690
207
-223
-4.845
-6.349
2.407
1.902
-3.291
486
11.310
8.197
2.466
2.282
-1.789
154
5.634
3.568
-275
-60
533
•2
.3
- 1.0
*
*
1.0
4.9
3.6
1.0
*
*
.3
5.8
2.7
2.6
.2
*
.3
4.5
2.5
1.7
1.0
•
-.8
17.3
7.7
3.6
2.0
2.7
1.3
2.7
1.5
-2.2
4.6
-2.1
.9
1 .8 8 8
24
25
26
27
28
29
30
31
INVESTMENT COMPANY SHARES
OTHER CORPORATE EQUITIES
.874
•670
-520
-6 8
399
818
-247
-2.573
1.7
-3.8
1.5
-4.1
2.0
-2.3
3.3
-5.4
3.7
" 4* 6
3.0
- 7.3
5.9 30
-12.3 31
32
33
LIFE INSURANCE RESERVES
PENSION FUND R ESERVES
.791
.757
1.745
13.356
1.913
5.702
1.905
8.474
3.8
8.9
4*2
9.9
4. 4
11.1
4.8
12.2
4.7
14.7
5.1
14.6
4 .6 32
15.5 33
34
35
36
NE T INV. IN NONCORP. BUS.
SECURITY CREDIT
M I S C ELLANEOUS ASSETS
.393
394
802
-569
-6
807
-1.416
-263
809
-1.628
358
813
-. 9
•
.5
-1.3
.2
.5
-1 .9
.2
.9
.4
.9
1.3
-.8
.2
1.2
-2.4
2.2
1.5
.2 34
2.1 35
1.8 36
.199
.610
.091
338
.797
-265
.411
654
13.332
11.822
8.363
336
979
97
1.567
480
9.667
9.943
7.279
334
3.437
151
-1.788
530
19.545
18.950
9 .923
332
4.099
1.587
2.520
489
20.7
20.6
12.7
1.0
4.8
1.0
.3
.8
2 7.4
25.1
14.8
1.0
6.8
1.2
.7
.7
28.2
28.0
16.0
1.0
7.2
1.3
1.5
.9
29.5
28.3
15.2
1.2
8.2
1.4
1.4
.9
23.2
22.7
12.7
1.3
5.4
1.0
.4
2.0
23.7
19.3
10.4
1.2
3.2
1.4
1.9
1.3
344
141
104
1.266
139
105
-519
137
106
353
135
107
-.1
.2
.2
2.0
.2
.2
-.2
.3
.2
.7
.2
.3
-.1
.3
.4
3.7
.4
.3
2.9 4 5
.5 46
.4 4 7
-7.1
-8.4
-9.2
-8.3
-7.8 48
-1.694
-6.6
-2.539
-5.174
-13.3
►.129
5 . 286
£*121
^.435
37
38
39
40
41
42
43
44
NE T INCREASE IN LIABILITIES
CREDIT MARKET INSTRUMENTS
H O M E MORTGAGES
OTHER MORTGAGES
INSTALMENT CONS. C REDIT
OTHER CONSUMER C REDIT
BANK LOANS N.E.C.
OTHER LOANS
45
46
47
SECURITY CREDIT
TRADE DEBT
MISCELLANEOUS
48 DISCREPANCY
33.7
30.0
14.6
1.1
8.3
1.7
2.5
1.7
37
38
39
40
41
42
43
44
(1) EXCLUOES CORPORATE EQUITIES.
49
50
51
52
MEMORANDAs
NE T PHYSICAL INVESTMENT*
(A) RESIDENTIAL CONSTRUCTION
EXPENDITURES
- C A P ITAL C O NSUMPTION
- HOME MORTGAGES
* EXCESS NET INVESTMENT
49
50
51
52
8.162
5.566
7.279
-4.683
11.978
5.714
9.923
-3.659
19.7
7.4
12.7
-.4
20.7
7.7
14.8
-1.7
21.9
8.1
16.0
-2.2
21.9
8.5
15.2
-1.8
21.4
8.8
12.7
*
19.3
9.2
10 .4
-.3
23.8
10.5
14.6
-1.3
39.465
31.444
8.021
46.7
42.2
4.5
51.4
44.5
6.9
56.3
47.5
8.8
62.8
50.8
12.0
67.7
54.7
12.9
69.6
59.4
10.2
80 .0 53
65.6 54
14.4 55
10.0 5 6
4 .4 57
-4.271
-7.697
(B) CONSUMER DURABLES
53
EXPENDITURES
54
- C APITAL CONSUMPTION
55
* N E T INVESTMENT
2 5 *” I
29.250
-3.693
11"
1.155
31.248
30.750
498
56
57
- CONSUMER CRE D I T
* EXCESS NET INVESTMENT
-5.062
1.369
3.588
-3.090
5.686
2 .335
5.8
-1.3
7.9
- 1.0
8.5
.3
9.6
2.4
6.4
6.6
4 .5
5.7
79
58
59
60
61
(C) NONPROFIT PLANT ♦ EQUIP.
EXPENDITURES
- CAPITAL CONSU M P T I O N
* NONPROFIT MO R T G A G E S
- EXCESS NET INVESTMENT
1-»J
945
338
42
972
336
173
1.521
995
334
192
1.422
1.022
332
68
3.2
1.1
1.0
1.2
3.4
1.2
1.0
1.2
3.7
1.3
1.0
1.4
4.1
1.4
1.2
1.6
4.5
1.5
1.3
1.7
4.5
1.7
1.2
1.7
14.909
8.478
12.863
7.796
12.9
5.3
13.0
4.7
11.8
6.0
12.1
6.4
12.7
6.5
13.1
7.5
14.2 62
6.5 63
T.880
I
9.101
PER CENT OF DISPO S A B L E INCOME AOJ. 121*
64 GROSS SAVING
21.459 25.717
20.5
20.5
21.9
22.7
22.8
23.3 6 4
24.622
23.3
22.859
17.842
13.947
6.596
6.395
17.9
9.7
5.3
5.3
18.6
10.7
6*7
6.2
18.5
11.8
6.3
18.6
12.1
6.2
5.9
18.1
11.8
4.5
4.4
16.9
11.9
4.3
3.5
18.2
12.1
5.7
5.0
270.090 296.281
««o.,
387.9
407.1
442.0
477.8
517.3
551.7
PER CENT RATIOS*
62 E F F ECTIVE TAX RATE
63 SAVING RATE, NIA BASIS
65
66
67
68
C APITAL EXPENDITURES
ACQUISITION OF FINAN. ASSETS
NET INCREASE IN L I A B I LITIES
CRE D I T M ARKET B ORROWING
“
1-048
I'TLi
4.252
15.154
13.199
3.579
3.681
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
4.5
1.8
1.1
1.6
58
59
60
61
65
66
67
68
596.1 69
10 FEBRUARY
HOUSEHOLDS
W76
HOUSEHOLDS
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1969
197 0
1971
1972
1973
1974
1975
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
HOUSEHOLDS* PERSONAL TRUSTS* ANO NONPROFIT ORGANIZATIONS
1
2
745.8
115.4
8 01.3
115.3
859.1
116.3
942.5
141.2
1054.3
151.2
1154.7
171.2
1246.0
169.2
1203.6
179.6
1223.8
142.2
1261.7
174.6
1294.8
180.4
3
4
5
6
7
8
630.4
595.3
35.1
7.1
2.5
13.7
6 85.9
635.4
5 0.6
8 .8
.9
7. 9
742.8
6 85.5
57.3
9.2
.8
13.9
8 0 1.3
751.9
49.4
1 1 .1
1.4
21. 5
9 0 3.1
830.4
72.7
11.5
.9
24. 4
983.6
909.5
74.0
15.1
.5
1 1 .2
1076.8
987.3
89.5
16.3
.2
6.0
1024.0
950.4
73.6
1 1 .2
-. 3
1.9
1081.6
9 74.2
107.4
31.5
.7
2.9
1087.1
1001.3
85.8
6.9
.7
8.8
1114.4
1023.2
91.2
15.7
-.4
10.3
9
10
11
58.4
86.0
144.3
6 8.2
9 2. 2
160.3
81.2
9 9.4
180.7
83. 4
107.2
190.6
109.5
118.8
228.3
100.8
133.8
234.6
112 .0
147.6
259.6
86.5
141.9
228.4
142.4
146.5
289.0
102.2
149.2
251.5
116.9
152.7
269.6
12
13
14
15
16
147.3
116.3
25.7
85.5
5.1
168.0
113.6
23.4
84.9
5.3
185.2
134.0
31.3
97.1
5.6
206.4
157.3
4 0.0
1 1 1 .2
6 .0
239.8
173.7
44.5
122.9
6.3
249.5
165.9
37.7
121.9
6.3
275.1
168.7
35.3
127.7
5.7
246.1
159.8
34.9
118.9
5.9
302.7
161.4
31.8
123.8
5.8
264.2
172.2
34.7
131.8
5.7
287.6
181.6
39.9
136.1
5.6
17
18
31.0
60.2
54.4
76.9
51.2
94.3
49.1
118.1
6 6 .1
135.4
83.6
126.5
106.4
152.1
86.3
124.2
141.3
186.6
92.0
132.6
106.0 1 IET FINANCIAL INVESTMENT
17
165.2
N E T ACQ. OF FINANCIAL ASSETS 18
19
20
4 2.5
1.5
54.4
1 1 .2
72.3
1 1 .0
93.7
1 1 .8
110.5
13.1
91.3
8.5
112 .8
8.2
90.1
- 1 8.6
131.5
48.5
98.3
2 .6
131.2
.5
DEP. ♦ CR. MKT. INSTR. (1) 19
D EMAND DEP. ♦ CURRENCY
20
21
22
23
6 .0
- 2.0
8 .0
44.4
27.5
16.9
70.3
29.8
40. 4
7 5.4
29.5
45.9
67.7
39.5
28.2
59.6
37.9
2 1.8
91.8
32.4
5 9.4
107.8
41.3
66.5
94.9
23.6
71.3
67.2
15.7
51.5
97.3
48.9
48.3
TIME ♦ SAVINGS A CCOUNTS 21
AT COMMERCIAL B A NKS
22
AT SAVINGS INST.
23
24
25
26
27
28
29
34. 9
12 .8
9.6
6 .6
4.8
1 .1
-i.l
-9.7
-.8
10. 7
-1.5
.1
-9.0
-14.4
-.2
9.3
-3.9
.2
6.5
.6
1 .0
5.2
1.5
- 1.8
29.8
20.4
4.3
1 .1
3.5
.5
23.1
14.5
10.0
-1.7
-.5
.8
12 .8
-.9
10 .1
7.6
-5.0
1 .0
.9
-27.3
12 .6
12 .8
3.2
-.4
- 1 1 .8
-17.5
9.8
5.6
- 1 1 .2
1.5
28.5
18.5
9.2
7.3
-7.2
.7
33.5
22.8
8.5
4.7
—4. 6
2 .1
CRE D I T MKT. INSTRUMENTS
U.S. GOVT. SECURITIES
S. ♦ L. OBLIGATIONS
CORPORATE ♦ FGN. BONOS
COMMERCIAL PAPER
M O R TGAGES
30
31
4.9
- 8 .6
2 .8
-4.4
1.3
- 6.5
-.5
-4.7
- 1 .6
-6.5
1 .0
- 2 .0
1.5
-2.5
6.8
-8.3
-1. 4
-.3
2 .2
2.8
- 1 .6
-4.3
INVESTMENT COMPANY SHARES 30
OTHER CORPORATE EQUITIES
31
32
33
5.0
16.3
5.2
19.1
6 .2
2 1.6
6 .6
23.8
7.3
24.4
7.3
31.7
7.4
34.3
7.2
29.2
7.0
48.9
7.7
25.0
7.6
34.0
LIFE INSURANCE RESERVES
PENSION FUND RESERVES
32
33
34
35
36
-.2
- 1.8
2 .1
-1.9
-.9
2 .6
-3.3
.5
2. 3
-3.5
.1
2.7
.1
-.2
1.5
-4.6
-.3
2 .2
-5.0
.5
3.2
-5.6
1 .6
3.2
-2.3
*
3.2
-5.7
-l.l
3.2
-6.5
1.4
3.3
NET INV. IN NONCORP. BUS.
SECURITY CREDIT
MISCELLANEOUS ASSETS
34
35
36
37
38
39
40
41
42
43
44
29.2
31.7
16.1
1.3
9.4
1.0
1 .0
3.0
2 2.5
23.4
1 2.5
1.4
5.0
1 .1
.9
2 .6
4 3.1
39.8
24.2
1.2
9.2
2.0
1.8
1.4
68.9
63.1
38.4
1.4
16.0
3.1
2.8
1.3
69.3
72.8
44.2
1.4
20.1
2.8
1.8
2. 5
42.9
44.0
32.6
1.4
8.7
.9
-2.5
2.9
45.7
43.3
33.7
1.3
3.7
1 .6
.9
2.2
37.9
35.5
30.2
1.4
-3.1
3.8
2.6
45.4
39.3
34.7
1.3
-1.5
.9
2 .0
1.9
40.6
41.7
31.2
1.3
9.2
2.3
-4.6
2 .1
59.2
56.8
38.5
1.3
10.2
2.5
2.3
2.0
NE T INCREASE IN L I A BILITIES
CREDIT MAR K E T INSTRUMENTS
HOME MORTG A G E S
OTHER MORTGAGES
INSTALMENT CONS. C R E D I T
O THER C ONSUMER CRED I T
BANK LOANS N.E.C.
O T H E R LOANS
37
38
39
40
41
42
43
44
45
46
47
-3.4
.5
.4
- 1 .8
.5
.4
2 .6
.3
.3
4.7
.6
.5
-4.6
.6
.4
- 2 .1
.6
.4
1.4
.6
.4
1.4
.6
.4
5.1
.6
.4
-2 .1
.5
.4
1.4
.5
.4
48
-2.9
-7.6
-4.5
-15.8
-11.5
-14.9
-15.5
-17.7
-13.7
-12.7
0
CD
1
PERSONAL SAVING* NIA BASIS
CRED I T S FROM GOVT. INSURANCE
CAPITAL GAINS DIVIDENDS
NET DURAB L E S IN CONSUMPTION
5
6
7
8
N E T SAVING
CAPITAL C O N SUMPTION
GROSS SAVING
10
11
9
R O S S INVESTMENT
CAPITAL EXPEND.-NET OF SALES
RESIDENTIAL CONSTRUCTION
CONSUMER D U R ABLE GOODS
NONPROFIT PLANT ♦ EQUIP.
SECURITY CREDIT
TRADE DEBT
MISCELLANEOUS
12
13
14
15
16
24
25
26
27
28
29
45
46
47
48
(1) EXCLUDES CORPORATE EQUITIES.
49
50
51
52
25.7
1 2 .1
16.1
-2 . 4
23.4
1 2 .8
12.5
- 1.9
31.3
13.7
24.2
-6.5
40.0
14.7
38.4
-13.1
44.5
17.1
44.2
-16.8
37.7
19.5
32.6
-14.4
35.3
22.0
33.7
-20.3
34.9
2 1 .1
30.2
- 16.4
31.8
21.7
34.7
-24.6
34.7
22.3
31.2
-18.8
39.9
22.9
38.5
-21.5
MEMORANDA:
NET PHYSICAL INVESTMENT:
(A I RESIDENTIAL CONSTRUCTION
EXPENDITURES
- CAPITAL CONSUMPTION
- HOME MORTGAGES
= EXCESS NET INVESTMENT
53
54
55
85.5
71.8
13.7
84. 9
77.0
7.9
97.1
83.2
13.9
1 1 1 .2
89.7
21.5
122.9
98.6
24.4
121.9
110.8
1 1 .2
127.7
121.7
6.0
118.9
117.0
1.9
123.8
120.9
2.9
131.8
123.0
8.8
136.1
125.8
10.3
(B > CONSUMER DURABLES
EXPENDITURES
- CAPITAL CONSUMPTION
* N ET INVESTMENT
56
57
10.4
3.3
6 .0
1.9
1 1 .2
2.7
19.2
2.3
22.9
1.5
9.6
1.5
5.3
.7
-2.5
4.4
-.6
3.5
11 .6
- 2.8
12.7
-2.4
- CONSUMER CREDIT
« EXCESS NET INVESTMENT
56
57
58
59
60
61
5.1
2 .1
1.3
1.7
5.3
2 .3
1.4
1 .6
5.6
2 .6
1.2
1.8
6 .0
2.8
1.4
1 .8
6.3
3.1
1.4
1.7
6.3
3.5
1.4
1.4
5.7
3.9
1.3
.5
5.9
3.8
1.4
.8
5.8
3.9
1.3
.5
5.7
4.0
1.3
.4
5.6
4.1
1.3
.2
(Cl NONPROFIT PLANT ♦ EQUIP.
EXPENDITURES
- CAPITAL CONSUMPTION
- NONPROFIT MORTGAGES
* EXCESS NET INVESTMENT
58
59
60
61
62
63
15.5
5. 6
14.4
7.4
13.5
7.7
15.0
6 .2
14.3
8.0
14.8
7.5
13.6
8.3
14.9
7.2
1 1 .6
9.9
13.8
7.9
64
2 2.6
23.1
24.0
23.4
24.9
23.5
23.7
2 2 .1
25.9
PER C E N T O F D I SPOSABLE INCOME ADJ.
23.0
23.9 GROSS SAVING
65
66
67
68
18.2
9.4
4.6
5.0
16.3
1 1 .1
3.2
3.4
17.8
12.5
5.7
5.3
19.3
14.5
8. 5
7.8
19 .0
14.8
7.6
8.0
16.6
12.7
4.3
4.4
15.4
13.9
4.2
4.0
15.4
12 .0
3.7
3.4
14.5
16.8
4.1
3.5
15.7
1 2 .1
3.7
3.8
69
640.0
695.6
752.8
813.8
915.6
999.2
16.1
14.6
5.2
5.0
53
54
55
62
63
(2):
CAPITAL EXPENDITURES
ACQUISITION OF FIN A N - ASSETS
NET INCREASE IN LIABILITIES
CREDIT MARK E T B O R ROWING
64
65
66
67
68
1093.3
1035.0 1113.7 1094.7
1129.7 (2) DISPOSABLE INCOME ADJ.
69
(NIA DISPOSABLE INCOME ♦ GOVT. INSURANCE CREDITS ♦ C APITAL G A INS DIVIO.)
1V/75 BASEO ON INCOMPLETE AND PRELIMINARY INFORMATION.
PER CENT RATIOS:
13.9 EFFECTIVE TAX RATE
8.2 SAVING RATE* NIA BASIS
49
50
51
52
10 FEBRUARY 1976
TOTAL ♦ NONCORP BUSINESS
T OTAL ♦ NONCORP BUSINESS
8
SECTOR STATEMENTS OF SAVING AND INVESTMENT
UNADJUSTED NET FLOWS
UNADJUSTED NET FLOWS
1975 U NADJUSTED NET FLOWS it MILL .)
I
II
III
IV
1962
NONFINANCIAL
1963
Y E A R TOT A L S f* BILL.)
1964
1965
1966
1967
1968
BUSINESS - TOTAL
1 INCOME BEFORE TAXES
2 CROSS SAVINS
32.732
26.710
39.865
31.441
45.689
34.751
49.589
46.085
10 0 .1
54.4
106.2
57.5
114.8
63.7
129.1
70.3
138.1
75.5
135.5
77.2
142.1
79.5
1
2
3 CROSS INVESTMENT
4 C A P ITAL EXPENDITURES
5
FIXED INVESTMENT
6
BUSINESS PLANT ♦ EQUIPMENT
N O N F A R M HOME C ONST. (1)
7
8
MU L TI-FAMILY R ESIDENTIAL
9
CHANGE IN INVENTORIES
26.986
26.415
30.037
3 1.564
-3.437
1.910
-3.622
29.544
31.141
39.789
34. 4 6 7
1.951
3.371
-8.648
30.887
35.868
38.744
32.452
4.343
1.949
-2.876
39.613
39.367
38.421
35.895
583
1.943
946
50.6
61.3
54.8
47.0
.7
7.0
6.5
51.9
64.7
58.8
48.8
1 .1
8.8
6.0
5 5.9
69. 7
63.9
54.7
.3
9.0
5.8
61.8
84.7
75.2
65.8
.8
8.6
9.5
67.1
97.0
82.7
75.4
-.5
7.8
14.3
73.2
95. 4
85.3
76.0
2 .1
7.2
1 0 .1
70.5
100.7
93.0
82.4
1~2
9.4
7.7
3
4
5
6
7
8
9
10 N E T FINANCIAL INVESTMENT
11
NET ACQ. OF FINANCIAL ASSETS
12
NET INCREASE IN LIABILITIES
13
CORPORATE EQUITIES
14
CREDIT M A RKET INSTRUMENTS
15
CORPORATE BONDS
16
HOME M O R TGAGES
17
OTHER MORTGAGES
18
BANK LOANS N.E.C.
19
OTHER LOANS
571
-5.478
-6.049
1.933
3.457
9 .430
-2.824
2.838
- 8 .909
2.492
- 1.597
11.190
12.787
3.223
10.323
8.272
1.480
4 . 119
- 2 .10 2
-2.257
- 4.981
12.909
17.890
1.713
6.927
3.677
3.302
3.978
-3.770
-861
246
21.044
20.798
2.650
13.227
5.660
314
4.252
1.340
920
-1 0 . 7
1 1 .8
22.5
.4
17.5
4.6
.1
8 .0
4.0
.9
-12.9
14.7
27.5
-.3
19.9
3.9
.4
9.0
5.0
1.7
-13.8
14.4
28.3
1 .1
21 Jb
4.0
-. 3
9.4
5.8
2.7
-2 2 . 9
2 1 .2
44.1
*
29.5
5.4
.1
9.1
12 .2
2.6
- 2 9.9
13.7
43.5
1.3
32.5
10 .2
- 1.0
9.3
10.6
3.4
- 22.2
18.0
40.2
2.4
35.7
14.7
1 .1
9.4
7.9
2.7
-30.2
30.6
60.8
-.2
40.1
12.9
.4
10.9
1 1 .1
4.8
10
11
12
13
14
15
16
17
18
19
20
21
-8.164
-3.275
4.592
-5.351
10.314
-1.0 6 4
3.581
1.340
4.3
.2
7.7
.2
6.9
-1. 4
1 2 .1
2 .6
10.2
-.5
8.9
-6.9
17.4 20
3 .4 21
-276
1.897
3.864
6.472
3.8
5.6
7.8
8.5
8.4
4.0
9.0 22
TRADE DEBT
O THER LIABILITIES
22 DISCREPANCY
FARM BUSINESS
1
2
3
4
5
6
N E T INCOME
N E T SAVING
CAPITAL CONSUMPTION
CORPORATE
NONCORPORATE
CURR E N T SURP. * G ROSS SAVING
7 GROSS INVESTMENT
8 CAPITAL EXPENDITURES
9
PLANT ♦ EQUIPMENT
10
RESIDENTIAL CONSTRUCTION
CHANGE IN INVENTORIES
11
12 NE T FINANCIAL INVESTMENT
13
NET ACQ. OF FINANCIAL ASSETS
14
OEM A N D DEPOS I T S ♦ C U R RENCY
15
MI S C ELLANEOUS ASSETS
16
INSURANCE R E CEIVABLES
17
EQ. IN SPONS. AGS. 12)
5.250
132
2.622
183
2 .439
2.7 5 4
5.025
-472
2 .651
185
2.466
2.179
7.325
179
2.698
189
2.509
2.877
7.050
313
2.748
192
2.556
3.061
11.9
•
4.3
.3
4.0
4.2
1 1 .6
-.1
4.4
.3
4.1
4.3
10.3
*
4.6
.3
4.3
4.5
12 .6
*
4.8
.3
4.4
4.8
13.6
*
5.1
.4
4.7
5.1
1 2 .1
*
5.4
.4
5.1
5.4
2.754
2.464
2.747
92
-375
2.179
2.810
2.733
102
-25
2.877
3.305
2.190
215
900
3.061
3.792
2.226
191
1.375
4.2
5.3
3.9
.6
.7
4.3
5.8
4.3
.7
.8
4.5
4.6
4.5
.7
* *6
4.8
6.6
5.0
.6
1 .0
5.1
6.0
5.5
.7
-.2
5.4
7.4
5.9
.7
.7
290
209
20
189
147
42
-631
203
23
180
148
32
-428
202
19
183
150
33
-731
323
22
301
151
150
-1 .1
.1
.1
*
*
*
-1.5
*
-.2
.2
.1
*
-.1
.4
.2
.2
.2
*
- 1.8
.3
.1
.2
.1
*
-.9
.2
.2
.2
*
- 2.0
.4
.1
.3
.2
•
-.4
.6
.2
.4
.3
.1
12
13
14
15
16
17
.9
2.8
2.2
.4
.2
-.1
.2
18
19
20
21
22
23
24
-
12 .0
*
5.8
.4
5.4
5.9
1
2
3
4
5
6
5.9
7
6 .2
8
5.5 9
.6 10
. 1 11
18
19
20
21
22
23
24
NET INCREASE IN LIABILITIES
C REO I T MARKET INSTRUMENTS
M ORTGAGES
B ANK L O ANS N « E . C »
OTHER LOANS
U.S. GOVERNMENT
FICB
-81
1.890
1.242
63
585
314
271
834
2.282
1.396
771
115
-787
902
630
1.590
1.018
529
43
64
-2 1
1.054
984
844
100
40
50
-10
1 .2
2.3
1.3
.8
.2
.1
.2
1.5
2 .6
1 .6
.6
.3
.1
.3
.5
2 .6
2 .1
.3
.2
.1
.1
2 .1
3.3
2.2
.7
.3
.1
.3
1 .1
3.1
1.8
.9
.4
*
.4
2.3
3.6
2.3
.7
.6
.2
.5
25
26
TRADE DEBT
PROPRIETOR NET INVESTMENT
-382
- 1 .589
-539
-909
460
-1.420
989
-919
— 1.7
•6
-1.7
.3
- 2.5
.7
-1.9
.9
“ 2.9
.8
- 2 .1
.3 25
- 2 .2 26
NONFARM N O N C O RPORATE BUSINESS
15.656
15.525
15.643
15.912
43.5
44.6
47.9
50.6
53.5
56.3
58.2
1
2 CA P ITAL CONSUMPTION
3 CURRENT SURP. * GROSS SAVING
5.405
3.710
5.602
3 .204
5.730
2.512
5.908
13.373
8.8
8.8
8.9
8.9
9.2
9.2
9.6
9.6
10.0
10.0
10.6
10 .6
1 1 .6
1 1 .6
2
3
4 GROSS INVESTMENT
5 CAPITAL EXPENDITURES
6
FIXED CAPITAL
PLANT ♦ EQUIPMENT
7
8
HOME CONSTRUCTION (1)
9
MULTI -FAMILY RESIDENTIAL
10
CHANGE IN INVENTORIES
3.710
3.450
3.971
3.715
-1.765
2 .0 21
-521
3 .204
6.192
6 . 775
3.929
925
1.921
-583
2.512
6.803
7.409
3.802
2 .064
1.543
-606
13.373
5.131
5.865
4.101
196
1.568
-734
8.8
12.3
11.7
6.8
-*
4.8
8.9
12.9
12 .2
7.0
.2
4.9
.7
9.2
14.0
13.4
7.8
-.2
5.9
9.6
16.1
15.4
9.3
.1
6.0
.7
10.0
15.5
14.9
10.0
-.6
5.5
.6
10.6
15.2
15.0
9.2
.7
5.1
.2
1 1 .6
4
18.5 5
18.0 6
7
1 1 .1
.3 8
6 .6
9
.5 10
260
550
0
307
243
243
0
-2.988
218
0
-27
245
243
2
-4.291
265
0
20
245
243
2
8.242
1.173
0
893
280
243
37
-3.5
.5
—
.4
.1
.1
*
-4.0
.5
.3
.2
.2
*
- 4.8
.6
.4
.3
.2
*
-6 .6
.7
.4
.3
.3
*
-5.5
.9
-4.5
.8
-6.9 11
1.0 12
—
13
.5 14
.5 15
.5 16
• 17
290
- 1 .663
-955
-1.412
351
106
3.206
24 7
1.425
740
480
205
4.556
1.400
2.656
1.651
815
190
-7.069
2.559
1.291
157
925
209
4.0
3.2
2 .2
*
1.8
.4
4.6
4.5
2.8
.2
2.2
.4
5.5
5.3
3.4
-.2
3.3
.3
-612
-96
-514
-664
-450
-806
-597
1.865
.4
.6
.7
1.0
1.757
196
2.619
340
3.152
4
-8.919
-709
-.1
.8
-.3
•3
1 NE T INCOME
11 NET FINAN CIAL INVESTMENT
12
NET ACQ. OF FINANCIAL ASSETS
13
D E M A N D DEPOSITS ♦ CURRENCY
14
CONSUMER CREDIT
15
MISCELLANEOUS ASSETS
16
INSURANCE RECEIVABLES
17
EQ. IN SPONS. AGS. (2)
18
19
20
21
22
23
24
25
26
27
NET INCREASE IN LIABILITIES
C REDIT M A R K E T INSTRUMENTS
MORTGAGES
HOME MORTGAGES
MULTI-FAMILY
COMMERCIAL
BANK LOANS N.E.C.
O T HER LOANS
TRADE DEBT* NET
PROPRIETOR NET INVESTMENT
(1! CHANGE IN WORK IN PROCESS.
(2) SHARES IN FICB'S* B A N K S F O R C O O P S » AND L AND BANKS.
IV/75 B ASED O N INCOMPLETE ANO PRELIMINARY INFORMATION.
.
—
-
.5
.4
.4
*
.4
.4
.4
*
7.3
5.7
3.1
.1
2.8
.3
6.3
5.4
2.4
-.5
2.4
.4
5.4
5.0
3.7
.6
2.8
.3
.5
1.4
1.0
1.6
1.3
1.7
.6
.6
1 .1 24
1.0 25
-.4
•6
-. 7
2.3
- 1 .2
2 .1
.7
-.3
* 26
2. 4 2 7
7.9
5.6
3.4
.2
2.7
.5
18
19
20
21
22
23
10 FEBRUARY 1976
TOTAL ♦ NONCORP BUSINESS
SEASONALLY A DJUSTED A NNUAL RATES
1969
1970
1971
TOTAL ♦ NONCORP BUSINESS
9
SECTOR STATEMENTS OF S AVING A N D INVESTMENT
(BILLIONS OF DOLLARS)
1972
1973
1974
NONFINANCIAL
1975
S E ASONALLY ADJUSTED ANNUAL RATES
1975 SEAS AOJ ANNUAL RATES
II
III
IV
I
BUSINESS - TOTAL
1
2
137.7
81.0
122.0
79.6
1 31.0
90.3
153.5
103.4
172.3
109.7
151.8
107.6
167.9
139.0
138.5
118.2
157.5
136.3
184.2
147.9
191.4 INCOME BEFORE TAXES
152.9 G ROSS SAVING
1
2
3
4
5
6
T
8
9
74.7
112.4
103.0
90.9
.2
1 1 .8
9 .4
71.6
108.8
105.0
91.9
1 .0
1 2 .1
3.8
80.8
119.0
1 1 2 .6
94.5
3.1
15.0
6.4
88.6
137.5
128.0
106.4
2 .2
19.4
9.4
98.5
164.7
147.2
125.4
-.5
22.2
17.5
95.9
161.8
152.1
135.6
-.1
16.6
9 .7
127.0
132.8
147.0
134.4
3.4
9.2
-14.2
106.6
118.6
143.4
134.9
- 2 .0
10.5
-24.8
125.0
113.3
143.0
131.0
3.2
8.8
-2 9 . 7
136.5
145.6
147.7
132.8
6.0
8.9
- 2 .1
139.6 G R OSS INVESTMENT
153.7 CAPITAL E X P ENDITURES
153.9
F I XED INVESTMENT
138.8
BUSINESS P LANT ♦ EQUIPMENT
N O N FARN HOME CONST. (1)
6.6
M U LTI-FAMILY RESIDENTIAL
8.5
CHANGE IN INVENTORIES
-.2
3
4
5
6
7
8
9
bo
11
12
13
14
15
16
1?
18
19
- 37.7
30.2
67.9
3 .4
46.0
12 .0
-.4
10.8
14.5
9.2
- 37.2
14.8
52.0
5.7
42.3
19.8
.3
1 1 .6
5.8
4.9
- 38.1
2 5.3
63.4
11.4
48.2
18.8
1.9
19.5
5.9
1.9
-48.8
33.8
82.6
10.9
59.6
12 m2
1 .2
26.2
16.1
3.3
- 66.2
43.9
1 1 0 .1
7.4
77.6
9.2
-.9
28.4
34.0
5.1
-65.9
46.6
112.5
4.1
88.0
19.7
-.9
22.8
29.8
14.9
-5.8
39.7
45.4
9.5
33.9
27.0
2.3
15.2
-13.4
.3
- 1 2 .0
- 14.8
- 2 .8
7.7
28.9
40.1
-1.9
14.5
-28.5
3.0
11.7
46.7
35.0
12.9
24.3
30.5
2 .1
14.9
-19.9
— 6.5
-9.1
50.1
59.1
6.9
31.2
14.6
4.2
15.0
-7.1
2 .2
-14.1 NET FINANCIAL INVESTMENT
NE T ACQ. OF FINANCIAL ASSETS
76.3
90.4
NET INCRE A S E I N LIABILITIES
10.6
C ORPORATE EQUITIES
51.4
C REOIT M ARKET INSTRUMENTS
CORPO R A T E B O N O S
23.0
HOM E MORTGAGES
4.7
16.4
OTHER MORTGAGES
1.8
BANK L OANS N . E . C .
2.5
OTHER LOANS
10
11
12
13
14
15
16
17
18
19
20
21
2 1 .2
-2. 7
8 .6
-4.6
5.3
-1. 4
15.4
-3.2
20.0
5.0
18.4
2.0
10.3
-8.4
- 2 1 .1
-18.3
8 .6
-10.7
27.1
- 6.0
26.7
1.7
22
6.3
8 .0
9.5
14.7
1 1 .2
1 1 .8
12 .0
11.7
11.4
11.3
13.3 DISCREPANCY
TRADE DEBT
OTHER LIABILITIES
20
21
22
FARM BUSINESS
1
2
3
4
5
6
13.9
•
6 .2
.4
5.8
6 .2
13.9
-.1
6 .4
.4
5.9
6.3
14.3
-.1
6.9
.5
6.5
6.9
18.0
.1
7.4
.5
6.9
7.6
32.4
.3
8.4
•6
7.8
8.7
25.6
.2
10.0
.7
9.3
10.2
24.7
.2
10.7
.7
10.0
10.9
2 1.0
.2
10.5
.7
9.8
10 .6
2 0 .1
.2
10 .6
.7
9.9
10.8
29.3
.2
10.8
.8
10.0
1 1 .0
28.2
.2
1 1 .0
.8
10.2
1 1 .2
7
8
9
10
11
6 .2
6 .6
5.7
.7
.1
6.3
6.9
6 .2
•6
.1
6.9
8.3
6.4
.7
1.3
7.6
7.9
6 .6
.7
8.7
13.0
8.9
•6
3.5
10.2
9.0
9.9
1 .0
-1.9
10.9
12.4
9.9
.6
1.9
10 .6
9.0
10 .1
.4
- 1.5
10.8
10.5
1 0 .1
.5
-.1
1 1 .0
13.5
9.1
•8
3.6
11.2 .GROSS INVESTMENT
16.5 CAPITAL EXPENDITURES
10.3
PLANT ♦ EQUIPMENT
R £ S IDENTIAL CONSTRUCTION
.7
CHANGE IN INVENTORIES
5.5
7
8
9
10
11
12
13
14
15
16
17
-.4
.5
.1
.4
.4
.1
-.6
•6
.i
.5
.4
.1
-1 . 4
.7
.1
•6
.5
.1
-.4
.9
.3
.7
.6
.1
-4.2
.7
.7
.6
.2
1 .2
.8
.1
•8
•6
.2
-1.5
.9
.1
.9
.6
.3
1.7
.8
.1
.8
.6
.2
.3
.8
.1
.7
.6
.1
- 2.6
.8
.1
.7
.6
.1
-5.4 NET FINANCIAL INVESTMENT
N E T ACQ. OF FINANCIAL ASSETS
1.3
DEMAND D E P OSITS ♦ CURRENCY
.1
MI S C ELLANEOUS ASSETS
1 .2
INSURANCE RECEIVABLES
.6
EQ. IN SPONS. AGS. (2)
•6
12
13
14
15
16
17
18
19
20
21
22
23
24
1 .0
3.2
1.9
.6
.6
*
•6
1 .2
3.2
1 .8
.8
.6
-.1
.7
2 .1
4.1
2 .0
1.3
.7
*
.7
1.3
4.9
2 .6
1.8
.5
*
.4
4.9
8.6
4.4
3.0
1.2
.1
1 .1
-. 4
7.8
4.9
.9
1.9
.3
1.7
2.4
6.7
4.5
1.5
.8
-.4
1 .1
-.8
6 .8
4.8
.4
1 .6
1 .0
.5
.5
5.9
4.9
1.8
-.8
-3.2
2.4
3.4
7.6
4.0
2.3
1 .2
.4
.8
6.6
6.7
4.3
1.3
1 .1
.3
.7
N E T INCREASE IN LIABILITIES
CREDIT MARK E T INSTRUMENTS
MORTGAGES
BANK L OANS N.E.C.
OT H E R LOANS
U.S. GOV E R N M E N T
FICB
18
19
20
21
22
23
24
25
26
.7
-2.9
.9
-3.0
1 .1
-3.1
1.5
-5.0
1.5
-5.1
1.2
-9.4
.5
-4.8
- 1 .2
-6. 4
-1.7
-3.6
1.5
- 5.7
3.6
-3.7
TRAOE DEBT
PROPRIETOR NET INVESTMENT
25
26
NET INCOME
NET SAVING
CAPITAL CON S U M P T I O N
CORPORATE
N O N C O RPORATE
CURRENT SURP. * G ROSS SAVING
1
2
3
4
5
6
NONFARM NONCORPORATE BUSINESS
1
57.3
56. 5
58.5
64.2
64.7
64.0
62.7
62.6
62.1
62.6
63.6 NET INCOME
1
2
3
13.1
13.2
14.6
14.6
15.4
15.4
15.6
15.6
17.2
17.2
19.7
19.7
22.6
22.8
2 1 .6
2 1 .6
22.4
22.4
22.9
22.9
23.6 CAPITAL C O N S U MPTION
23.6 CURRENT SURP. * GROSS SAVING
2
3
4
5
6
7
8
9
10
13.2
21.5
2 0.5
12.5
-.3
8.3
1 .0
14. 6
19.8
2 1 .2
12.4
.2
8 .6
-1 . 4
15.4
22.7
22.9
1 1 .1
1 .2
10 .6
-.1
15.6
25.6
27.5
12.9
.8
13.9
-1.9
17.2
28.5
29.9
14.8
-.5
15.7
-1.5
19.7
28.8
27.9
16.5
-.6
11.9
1 .0
22.8
2 1.6
24.0
15.5
1.4
7.1
-2.4
2 1.6
18.1
2 2.6
15.8
- 1 .2
7.9
-4. 4
22.4
21.3
23.9
15.5
1.3
7. 0
-2 . 7
22.9
22.9
24.4
15.0
2 .6
6*-8
-1.5
23.6 GROSS INVESTMENT
24.0 CAPITAL EXPENDITURES
25.2
FIXED CAPITAL
PLANT ♦ EQUIPMENT
15.8
HOME CON S T R U C T I O N (1)
3.0
6.4
MULTI-FAMILY RESIDENTIAL
CHANGE IN INVENTORIES
- 1.2
4
5
6
7
8
9
10
11
12
13
14
15
16
17
-8.3
1.3
—
.6
.7
.7
*
-5 . 3
1.3
—
.6
.7
.7
*
-7.3
1.5
.7
.8
.8
*
- 10.0
2 .1
1 .1
1.0
1.0
*
-11.3
2.3
—
1.3
1 .0
1.0
*
-9.2
1.9
.9
1 .0
1.0
*
1.2
2.2
—
1.2
1.0
1.0
•
3.5
2 .6
—
1 .6
1.0
1.0
-
1 .1
1.8
—
.8
1.0
1.0
*
*
2.8
—
1.8
1.0
1.0
*
-.4 NET FINANCIAL INVESTMENT
1.7
N ET ACQ. OF FINANCIAL ASSETS
—
DEMANO DEP O S I T S ♦ CURRENCY
CONSUMER CREDIT
.6
M I S C ELLANEOUS ASSETS
1 .1
1.0
INSURANCE R E C EIVABLES
EQ. IN SPONS. AGS. 12)
.1
18
19
20
21
22
23
9.6
7.4
3.8
-.2
3.6
.4
6.5
5.3
4.9
.2
4.3
.4
8.8
8.7
8.0
1.0
6 .2
.9
12 .0
10.4
9.2
•6
7.3
1.3
13.5
9.3
7.1
-.4
5.9
1 .6
1 1 .1
7.2
6 .1
-.4
5.6
1.0
1.0
2.5
4.4
1 .1
2.6
.7
-.9
.1
2.3
- 1.0
2 .6
.6
.6
-.7
3.2
1 .1
1.3
.8
2.8
4.5
5.8
2 .1
3.1
.7
2 .1
6.3
6.4
2.4
3.3
•8
24
25
2 .1
1.5
1 .0
.2
.5
.7
.4
.4
1 .8
- 1 .0
2 .1
- 2.2
.3
- 2 .1
*
-1.9
- 2 .0
-.4
- 1 .0
- 4.3
4.2
26
27
- .5
2.7
.2
1.0
.3
-.2
.2
1.5
- 1.0
5.3
-.9
4.8
-1.4
-.2
- 1.8
.8
*
1.4
-1.7
•
-1.4
- 2.8
NE T INCREASE IN LIABILITIES
CREOIT MARKET INSTRUMENTS
MORTGAGES
H O M E M ORTGAGES
M U L T I -FAMILY
COMME R C I A L
BANK LOANS N.E.C.
OTHER LOANS
TRADE DEBT* NET
PROPRIETOR NET INVESTMENT
(1 ) CHANGE IN WORK IN PROCESS.
(2 ) SHARES IN FICB' S, BANKS FOR COOPS* AND LAND BANKS.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
10 FEBRUARY 1976
NONFINANCIAL CORPORATE BUSINESS
N O N FINANCIAL CORPORATE B U S INESS
SECTOR STATEMENTS OF SAVING AND INVESTMENT
UNADJUSTED NET FLOWS
UNADJUSTED NET FLOWS
1975 U N ADJUSTED NET FLOWS (* MILL.)
I
II
III
IV
1962
1963
Y E A R TOT A L S ($ BILL.I
1964
1965
1966
1967
1968
AL C ORPORATE BUSINESS
1
2
3
4
5
PROFITS BEFORE TAX
- PROFITS TAX ACCRUALS
- NET DIVIDENDS PAID
* UNDISTRIBUTED PROFITS
♦ FOREIGN BRANCH PROFITS
6 + IVA and CCA (3)
7 ♦ CAPITAL C ONSUMPTION ALLOW.
8 « G R OSS INTERNAL FUNDS
17.346
6.359
7 .314
3.707
992
-5.520
21.067
20.246
22.8 8 3
8.533
7.407
7.002
984
-3.568
21.640
26.058
2 5 .900
9.840
7.181
8.938
1.042
- 3.179
22.561
29.362
31.435
12.478
8.846
9.959
967
-4.808
23.533
29.651
43.6
20.6
12.7
10.4
1.5
1 .1
28.4
41.4
48.3
22.7
14.0
1 1 .6
1 .6
1.7
29.5
44.4
54.6
23.9
15.3
15.4
1 .8
2 .1
30.7
50.0
64.2
27.1
17.1
20.0
1 .8
1.7
32.5
55.9
69.3
29. 4
18.1
21.9
1.4
1.7
35.4
60.4
65.3
27.6
18.8
18.8
1 .6
1.8
38.9
61.1
71.8
33.5
20.7
17.6
1 .8
.1
42.6
62.1
9 GROSS INVESTMENT
10 CAPITAL EXPENDITURES
11
FIXED INVESTMENT
12
PLANT ♦ E QUIPMENT
13
HOME C O N S T RUCTION
14
M U L T I -FAMILY R E S IDENTIAL
15
CHANGE IN INVENTORIES
20.522
20.501
23.227
25.102
-1.764
- 2.726
2 4 .161
22.139
3 0.179
2 7.805
924
1.450
- 8.040
25.498
25.760
28.930
26.460
2.064
4 06
-3.170
23.179
30.444
30.139
29.568
196
375
305
37.5
43. 7
38.6
36.3
*
2 .2
5.2
38 .7
46.0
41.6
37.5
.2
3.9
4.4
42.2
51.1
45.3
42.4
-.2
3.1
5.8
47.4
62.0
54.2
51.6
•1
2.5
7.8
52.0
75.6
61.7
59.9
—.6
2.3
13.9
5 7.2
72.9
63.7
60.9
.7
2 .1
9.2
53.1
76.0
68.9
65.9
.3
2 .8
7.1
16 N E T FINANCIAL INVESTMENT
17
NET ACQ. O F FINANCIAL ASSETS
21
-6.237
2.022
10.769
-262
12.442
-7.265
19.548
-6 .2
1 1 .1
-7.3
14.2
-8.9
13.4
-14.5
20.2
-23.5
12.6
-15.7
16.8
-22.9
29.0
18
19
20
21
22
23
24
LIQUID ASSETS
DEMAND DEP. ♦ C URRENCY
TIME DEPOSITS
U.S. GOVT. SECURITIES
S. ♦ L. OBLIGATIONS
COMMERCIAL PAPER
SECURITY R.P.'S
- 127
-1.160
-2 .241
-381
390
5.436
- 462
-1.278
6.939
-44
295
-14
1.988
966
393
778
-300
-1.348
1.499
11.062
2.691
-545
8.809
-219
810
3.7
1.0
1.5
.2
.3
.7
4.8
.5
2.4
*
1 .1
.9
1 .2
♦
- 1 .6
-.1
1.7
.6
2 .6
.3
2.3
-2.5
.9
.5
1 .1
-3.7
.3
-1.4
- 1 .2
- 1.0
-.2
-.2
4.8
1.5
2 .1
-2.5
-. 3
4.2
-.2
8.0
1.7
.4
.3
.5
4.2
.9
25
26
27
28
29
30
31
CONSUMER CREDIT
TRADE CREDIT
MISCELLANEOUS ASSETS
FOREIGN DIR. INVEST. (1)
FOREIGN CURRENCIES
INSURANCE RECEIVABLES
EQUITY IN SPONSORED AGS.
- 1 .2 2 2
65
2 .934
2.334
2.135
256
8.684
1.514
661
450
400
3
2.023
4.866
1.597
690
500
400
7
.7
4 •(>
2 .1
1.7
-.1
.6
*
1.0
6.2
2 .1
2.0
-.2
.3
1.3
8 .2
2 .8
2.3
.1
.3
*
.2
14.0
3.4
3.3
-.3
.4
*
.5
12.0
3.7
3.0
.1
.6
*
.3
8.3
3.5
2.7
.1
.7
*
•
18.6
2. 4
1 .1
.5
.8
*
17.3
12.4
.4
12.0
21.5
12.5
-.3
12.8
22.3
14.9
1 .1
13.7
34.8
2 0.4
*
20.4
36.1
25.3
1.3
24.0
32.5
29.6
2.4
27.2
51.9
31 .5
-.2
31.7
4.6
4.5
3.9
4.9
4.0
3.6
5.4
3.9
10.2
1.0
.2
1.0
14.7
4.5
- .2
.1
3.5
3.7
1.3
2.5
2.9
3.7
5.1
.1
- .2
-.1
•6
.2
32
33
34
35
NET INCREASE IN LIABILITIES
NET FUNOS RAISED IN MKTS.
N E T NEW EQUITY ISSUES
DEBT INSTRUMENTS
-111
2.020
1.245
- 6.834
1.946
1.470
76
400
-200
399
0
-6.258
5.163
1.933
3.230
8.747
11.017
3.223
7 . 794
12.704
5.650
1.713
3.937
26.813
12.334
2.650
9.684
36
37
38
39
40
41
TAX-EXEMPT BONDS (21
CORPORATE BONDS (1)
MORTGAGES
HOME MORTGAGES
MULTI-FAMILY
COMMERCIAL
430
9.430
-273
-1.412
186
953
811
8.272
2.778
740
193
1.845
601
3.677
3.606
1.651
244
1.711
7*1
5.660
2.431
157
3 94
1.880
42
43
44
45
46
BANK LOANS N.E.C.
COMMERCIAL PAPER
ACCEPTANCES
F INANCE C O M PANY LOANS
U.S. G OVERNMENT LOANS
-8.360
1.520
71
405
- 2 .359
-2.348
-144
728
56
-3.849
330
-191
-287
50
1.837
-1.874
654
176
59
- .2
.2
47
48
49
PROFIT TAXES PAYABLE
TRADE DEBT
MISCELLANEOUS LIABILITIES
-2.222
-9.539
340
-5.461
2.512
679
476
6.702
-124
2.968
11.511
0
.9
3.8
•1
50 D I SCREPANCY
*
.7
10.5
-.3
4.2
-.5
.7
4.0
8.3
•8
.6
6 .6
1.4
.1
.2
12.9
5.7
.2
.7
4.8
36
37
38
39
40
41
9.6
1.5
.1
1.7
42
43
44
45
.2 4 6
1.6
7.4
*
.5
6.9
♦
2 .2
1 2 .1
.1
.2
10.6
.1
- 4.7
7.4
.3
2.9 47
17.2 48
.3 4 9
-276
1.897
3.864
6.472
3.8
5.6
7.8
8.5
8.4
4.0
9.0 50
2.705
9.027
422
15.588
1.982
8.747
-6.645
8.827
.8
20.5
- 1 .2
20.4
1.3
23.7
1.8
25.8
1.4
30.6
.9
32.4
1.4 51
32.2 52
PER CENT RATIOS*
53 EFFECTIVE TAX RATE
36.659
54 C APITAL O UTLAYS/INTERNAL FUNDS 101.259
55 CR. MKT. BORROWING/CAP. EXP.
15.755
37.289
8 4 .960
35.204
37.992
39.694
87.732 102.674
15.283 31.809
47.2
105.7
27.5
47.1
103.8
27.9
43.8
102.2
26 .9
42.2
110.7
33.0
42.4
125.1
31.8
42.3
119.2
37.3
46.7 53
122.4 54
4 1.7 55
DEBT SUBTOTALS:
56 LONG-TERM DEBT
57 SHORT-TER M D E B T
58 TOTAL S-T LIABILITIES
10.177
- 2.383
-5.332
10 .2
1.8
6.6
10 .1
2.8
11.7
9.8
3.9
11.4
13.4
7.0
21.3
18.3
5.8
16.5
2 1.2
5.9
8.7
22.2 56
9.5 57
29.6 58
51 MEMO: NET TRADE CREDIT
52 PROFITS TAX PAYMENTS
7.655
—4.425
- 16.186
4.693
-756
6.422
MATURITY SPL IT ON DEBT IS APPROXIMATE:
L-T IS BONDS*
M-F ♦ COMMERCIAL MORTGAGES* AND 40 * OF BANK LOANS.
S-T
DEBT IS OTHER C R E D I T MARKET BORROWING.
TOTAL S-T
LIABILITIES IS S -T BORROWING ♦ TAX L IABILITIES ♦ TRADE
DEBT.
(1) FOREIGN INVESTMENT EXCLUDES A MOUNTS FINANCED BY BOND
ISSUES ABROAD* AN D BOND ISSUES OUTSIDE THE U.S. ARE
EXCLUDED FROM FINANCIAL SOURCES O F FUNDS ABOVE.
(2) INDUSTRIAL POLLUTION CONTROL REVENUE BONDS.
THESE
ARE FORMALLY ISSUED B Y STATE AND LOCAL GOVERNMENT
AUTHORITIES, BUT THEY FINANCE PRIVATE INVESTMENT
AND ARE SECURED IN INTEREST ANO PRINCIPAL BY THE
I NDUSTRIAL USER O F THE FUNDS.
(3)
INVENTORY VALUATION ADJUSTMENT AND CAPITAL CONSUMPTION ADJUSTMENT.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
9.410
274
14.753
10 FEBRUARY 1976
tONFINANCIAL CORP O R A T E BUSINESS
NONFINANCIAL CORPORATE BUSINESS
SECTOR
SEASONALLY AOJUS T E D A NNUAL RATES
STATEMENTS OF SAVING AND INVESTMENT
_____
11
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
N O N F INANCIAL CORPORATE BUSINESS
1
2
3
4
5
6
7
8
68.4
33.2
2 0.6
14.4
1.8
-2.0
47.3
61. 6
55.1
27. 2
19.8
8.1
1.6
-3. 6
52 . 7
58.7
63.2
29.8
20.0
13.4
1.9
-5. 0
57.7
68.0
75.6
33.4
21.6
20.6
1.9
-4.3
62.0
80.2
92.1
38.9
24.3
28.9
3.7
-16.8
68.1
83.8
103.2
42.5
30.4
30.3
10.9
- 41.0
77.6
77.7
97.6
37.2
30.7
29.6
4.0
-17.1
88.8
105.3
72.7
27.0
30.0
15.7
3.8
-17.8
84 . 3
86.0
86.4
31.9
30.6
23.9
3.8
- 11.1
86.6
103.2
108.1
41.5
31.2
35.3
4.2
-15.8
90.2
114-0
123.1
48.5
31.1
43.5
4.1
-23.6
94.1
118.1
PR O F I T S B EFORE TAX
- PROFITS TAX ACCRUALS
- N E T DIVIOENDS PAID
• U N D I S TRIBUTED PROFITS
♦ FOREIGN BRANCH P ROFITS
♦ INV. V ALUATION ADJUST M E N T
+ C A P ITAL C O N SUMPTION ALLOW.
* G R OSS INTERNAL FUNDS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
55.3
84.2
76.0
72.7
-.3
3.5
8.3
50.7
82.1
77.0
73.2
.2
3.6
5.0
58.5
87.9
82 . 7
77.0
1.2
4.5
5.2
65.5
104.0
93.3
86.9
.8
5.6
10.7
72.5
123.2
107.7
101.7
-.5
6.5
15.5
66.0
124.0
113.4
109.2
-.6
4.7
10.6
93.4
98.8
112.5
108.9
1.4
2.1
-13.6
74. 3
91.5
110.4
109.1
-1. 2
2. 5
-18.9
91.8
81.5
108.5
105.4
1.3
1.8
-26.9
102.6
109.2
113.4
108.7
2.6
2.1
-4.2
104.8
113.2
117.7
112.6
2.9
2.1
-4.5
G R OSS INVESTMENT
CAPITAL EXPENDITURES
FIXED INVESTMENT
PLANT ♦ EQ U I P M E N T
HOME CON S T R U C T I O N
MULTI-FAMILY RESIDENTIAL
CHANGE IN INVENTORIES
9
10
11
12
13
14
15
16
17
-28.9
28.4
-31.3
12. 9
-29.4
23.1
-38.5
30.8
-50.7
40.9
-58.0
43.8
-5.5
36.5
-17.2
-1 8 . 2
10.3
44.1
-6.5
46.5
-8. 4
73.3
18
19
20
21
22
23
24
2.3
2.6
-2.4
- 2.3
- 1.0
4.0
1.4
-.4
.9
1.7
.5
-.6
.5
-3 . 4
10.6
.5
3.6
2.2
1.0
2.4
.8
4.0
-.1
3.1
-2.4
1.0
.8
1.6
6.9
-.3
1.4
-1.8
-.1
5.2
2.6
13.2
.3
6.6
3.5
.6
4.9
-2. 8
18.4
2.0
-3.7
16.1
-.2
1.8
2.2
8.0
2.9
-8 . 9
1.3
1.6
6.2
5.0
25.5
1.6
-5.8
29.1
-.2
.7
-.1
12.2
1.8
1.0
6.7
-1.2
-2.2
6.0
27.5
1.6
- 1.0
27.4
-.9
2.4
-1.9
LIQUIO ASSETS
DEMAND DEP. ♦ C URRENCY
TIME DEPOSITS
U.S. GOVT. SECURITIES
S. ♦ L. O B L IGATIONS
COMMERCIAL PAPER
SECURITY R.P.*S
18
19
20
21
22
23
24
25
26
27
28
29
30
31
.3
22.7
3.0
2.2
-.4
1.1
.1
.7
8.4
4. 2
3.6
-.4
.9
.1
.6
5.7
6.2
3.8
1.4
1.0
*
1.6
20.0
5.2
1.5
1.8
1.9
*
2.0
24.1
7.9
3.6
2.6
1.6
*
1.2
20.8
8.6
7.2
-.2
1.6
*
1.1
9.7
7.4
5.0
.8
1.6
♦
-.1
-30.3
4. 2
2.3
.3
1.6
.9
8.5
9 .3
8.5
-.8
1.6
-
.8
26.9
6.6
3.2
1.8
1.6
♦
2.8
33.5
9.4
5.8
2.0
1.6
•
CONSUMER CREDIT
TRADE C REDIT
MISCELLANEOUS ASSETS
FORE I G N DIR. INVEST. (1)
FOREIGN CURRENCIES
INSURANCE RECEIVABLES
EQUITY IN SPONSORED AGS.
25
26
27
28
29
30
31
32
33
34
35
57.4
38.9
3.4
35.5
44. 2
39.5
5.7
33.8
52.5
46.8
11.4
3 5.4
69.3
55.3
10.9
44.4
91.6
67.2
7.4
59.7
101.8
77.1
4.1
73.0
42.0
34.2
9.5
24.6
- 1.0
29.7
7.7
22. 0
33.9
32.0
12.9
19.1
53.0
26.0
6.9
19.1
81.7
49. 0
10.6
38.4
36
37
38
39
40
41
12.0
4. 6
-.2
1.2
3.7
19.8
5.2
.2
1.5
3.6
.1
18.8
11.4
1.0
2.6
7.9
.5
12.2
15.6
.6
3.0
12.0
1.8
9.2
16.1
-.4
2.5
14.1
1.6
19.7
10.9
-.4
2.2
9.1
2.6
27.0
8.5
1.1
1.0
6.4
1.7
40.1
5.5
-1.0
1.1
5.4
3.2
30.5
8.9
1.1
.4
7.4
2.4
14.6
9.3
2.1
1.2
6.0
3.0
23.0
10.4
2.4
1-3
6.8
42
43
44
45
46
11.8
2.3
.4
4.3
.1
5. 6
2.2
.4
.4
.3
4.4
-1 . 7
.3
1.9
.2
13.5
-.6
*
2.8
.2
30.6
-.2
-.1
2.0
.3
29.9
4.1
1.3
4.5
1.1
-12.7
-2. 4
.4
1.0
.2
-26.8
1.7
.9
-l.l
*
-19.8
-5.8
- .4
2.1
.2
-9.1
1.0
-1.2
1.9
.2
4.8
-6.4
2*2
1.2
•2
BANK L O ANS N.E.C.
COMMERCIAL PAPBt
ACCEPTANCES
F INANCE CO M P A N Y LOANS
U.S. GOV E R N M E N T LOANS
42
43
44
45
46
47
48
49
-3. 3
21.0
.8
-3.7
7.4
1.0
2.0
3.8
-.1
-.1
13.7
.4
2.3
19.6
2.5
4 .4
18.1
2.2
-4.2
11.2
.9
-14.1
- 18.0
1.4
-11.2
10.4
2.7
.1
27.4
-.5
8.2
24.4
PROFIT TAXES PAYABLE
TRADE DEBT
MISCELLANEOUS LIABILITIES
47
48
49
50
6.3
8.0
9.5
14.7
11.2
11.8
12.0
11.7
11.4
11.3
13.3 DISCREPANCY
50
51
52
1.8
36. 4
.9
30. 3
1.9
27.9
6.3
33.8
4.5
37.6
2.8
41.5
-1.5
42.2
- 12.3
42.2
-1.9
43.9
-.5
42.0
9.1 MEMO: NET TRADE C R E D I T
40. 6 PROFITS TAX PAYMENTS
51
52
53
54
55
48.6
136.8
42.1
49.4
139.7
41.2
47.2
129.2
40.2
44.1
129.6
42.6
42.2
147.2
48.5
4 1. 2
159.5
58.9
38.1
93.9
24.9
37.1
106.4
24.1
36.9
79.1
2 3.4
3 8.4
95.8
17.5
PER CENT RATIOS:
39.4 EFFECTIVE TAX RATE
53
95.8 CAPITAL OUTLAYS/INTERNAL FUNDS 54
33.9 CR. MKT. BORROWING/CAP. EXP.
55
56
57
58
21.5
14.0
31.6
2 7.0
6 .7
10.5
31.1
4.2
10.0
33.2
11.2
24.8
39.8
20.0
41.9
44.6
28.4
50.9
31.9
-7.3
-.3
37.6
-15 . 6
-4 7.7
3 3.7
-14.6
-15.4
20.5
-1.4
26.1
DEBT SUBTOTALS:
35.9 LONG-TERM DEBT
2.5 SHORT-TERM DEBT
35.2 TOTAL S-T LIABILITIES
_
NET FINANCIAL INVESTMENT
16
NET ACQ. OF FINANCIAL ASSETS 17
NE T INCREASE IN LIABILITIES
NET FUNDS RAISED IN MKTS.
NET NEW EQUITY ISSUES
DEB T INSTRUMENTS
TAX-EXEMPT BONDS (2)
CORPORATE BONDS (1)
MORTGAGES
HOME MORTGAGES
M U LTI-FAMILY
COMMERCIAL
MATURITY SPLIT ON DEBT IS APPROXIMATE:
L-T IS BONDS*
M-F ♦ COMMERCIAL MORTGAGES, AN D 40 * OF BANK LOANS.
S-T
DEBT IS OTHER CREDIT MARKET BORROWING.
TOTAL S-T
L IABILITIES IS S-T BORROWING ♦ TAX LIABILITIES ♦ TRADE
DEBT.
(1) FOREIGN INVESTMENT E XCLUDES AMOUNTS FINANCED B Y BOM)
ISSUES ABROAD, AND BOND ISSUES OUTSIDE THE U.S. ARE
EXCLUDED FROM FINANCIAL SOURCES OF FUNDS ABOVE.
(2) INDUSTRIAL P O L LUTION CONTROL REVENUE B O NDS. THESE
ARE FORMALLY ISSUED BY STATE AND LOCAL GOVERNMENT
AUTHORITIES, BUT THE Y FINANCE PRIVATE INVESTMENT
AND ARE SECURED IN INTEREST AND PRINCIPAL BY THE
I NDUSTRIAL USER OF THE FUNOS.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
32
33
34
35
36
37
38
39
40
41
56
57
58
10 F EBRUARY 1976
GOVERNMENTS
G OVERNMENTS
12
SECTOR STATEMENTS OF SAVING AND INVESTMENT
UNADJUSTED NET FLOWS
UNADJU S T E D N ET FLOWS
1975 U NADJUSTED NET FLOWS
I
II
III
(* MILL.] ►
IV
1962
YEAR TOTALS (* BILL.)
1966
1964
1965
1963
1967
1968
STATE AND LOCAL GOVERNMENTS - GENERAL FUNDS
53.330
37.482
3.575
12.273
57.868
40.477
3.675
13.716
55.209
37.304
3.750
14.155
65.968
48.087
3.825
14.056
58.5
46.7
3.9
8.0
63.2
49.9
4.2
9.1
69.5
54.4
4.7
10.4
75.1
59.0
5.0
11.1
84.8
64.7
5.7
14.4
93.6
71.0
6.7
15.9
107.2
81.4
7.2
18.6
5 TOTAL EXPENDITURES* NIA BASIS
6
PURCH. OF GOODS ♦ SERVICES
N E T INTEREST ♦ TRANSFERS
7
6 NET SURPLUS* NIA BASIS
9 - RETIREMENT C R EDIT TO HH
10 * GROSS SAVING
52.684
49.284
3.400
646
2.470
-1.824
55.367
51.867
3.500
2.501
4.173
-1.672
57.250
53.500
3.750
-2.041
2.170
-4.211
57.149
53.199
3.950
8.819
3.811
5.008
58.0
54.3
3.7
.5
2.4
-1.9
62.8
59.0
3.7
.5
2.6
-2.1
68.5
64.6
3.9
1.0
3.0
-2.0
75.1
71.1
4.1
*
3.3
-3.3
84.3
79.8
4.5
.5
4.2
-3.7
94.7
89.3
5.4
-l.l
4.1
-5.2
106.9
5
6
100.7
6.2
7
.3 6
4.8
9
-4.5 10
11 NET FINANCIAL INVESTMENT
NET ACO. OF FINANCIAL ASSETS
12
DEMANO DEP. ♦ CURRENCY
13
TIME DEPOSITS
14
-3.970
-460
-1.410
-1.422
-4.895
-473
1.233
-446
-3.861
-254
-1.441
-841
3.113
5.723
1.763
738
-3.5
2.5
.5
1.0
-2.1
4.1
1.5
1.6
-3.3
3.2
1.6
1.7
-3.2
4.8
-.4
2.4
-2.8
4.0
.8
1.3
-5.1
3.4
1.2
2.4
-4.9
5.6
-.2
3.2
11
12
13
14
2.316
2.334
1.559
775
-1.317
-1.116
-308
-808
1.776
1.671
1.587
84
2.939
2.930
2.190
740
.8
.9
1.1
-.1
.8
.9
.7
.2
-.3
-.1
*
-.2
2.8
2.8
2.8
♦
1.8
1.9
2.5
-.6
-.3
-.4
-.8
.4
2.3
2.2
-.5
2.7
15
16
17
18
-19
1
56
-203
2
57
103
2
252
6
3
283
-.2
.1
.1
-.2
.1
.2
-.1
*
.1
-.1
*
.1
*
*
.1
3.510
3.275
3.201
107
3.094
4.422
4.198
4.178
669
3.509
3.607
3.380
3.214
-2.311
5.525
2.610
2.386
2.211
-520
2.731
6.0
5.9
5.4
*
5.4
6.2
6.0
5.7
.4
5.3
6.5
6.3
6.0
.8
5.2
8.0
7.7
7.3
.6
6.7
6.8
6.3
5.6
.7
5.0
8.6
7.9
7.8
1.8
74
235
20
224
166
227
175
224
.5
.1
.2
.2
.3
.3
.3
.4
.6
.5
.2
.6
.3 27
.6 28
-350
2.146
3.223
29 DISCREPANCY
EMPLOYEE RETIREMENT FUNDS ARE IN INSURANCE SECTOR.
1.895
1.6
*
1.2
-.1
-1.0
*
.4 29
1 TOTAL RECEIPTS, NIA BASIS
TAX RECEIPTS
2
SOCIAL INSURANCE RECEIPTS
3
GRANTS IN AI D RECEIVED
4
15
16
17
18
CREDIT MARKET INSTRUMENTS
U.S. GOVT. SECURITIES
DIRECT
U.S. GOVT. AGENCY SEC.
19
20
21
S. + L. OBLIGATIONS
HOME MORTGAGES
TAXES RECEIVABLE
22
23
24
25
26
NET INCREASE IN LIABILITIES
CREDIT M A RKET BORROWING
S. ♦ L. OBLIGATIONS
S HORT-TERM
OTHER
27
28
U.S. G O V ERNMENT LOANS
TRADE DEBT
*
.2
5 -9
1
2
3
4
* 19
.1 20
.3 21
10.4
9.8
9.5
.1
9.4
22
23
24
25
26
U.S. GOVERNMENT
70.755
32.199
12.909
6.443
19.204
106.2
48.6
22.5
14.6
20.5
114.4
51.5
24.6
15.3
23.1
114.9
48.6
26.1
16.2
24.0
124.3
53.9
28.9
16.5
25.0
141.8
61 .7
31.4
15.6
33.1
150.5
67.5
30.0
16.3
36.7
174.7
79.6
36.3
18.0
40.8
88.454 90.929
93.916
83.576
29.546
30.730
29.773
33.101
54.467
48.390
52 .190
55.153
5.640
5.534
6.003
6.348
- 11.890 -22.723 -15.604 -23.161
90
-388
5.065 -1.053
-11.502 -27.788 -14.551 -23.251
110.4
63.7
39.9
6.8
-4.2
1.1
-5.4
114.2
64.6
42.2
7.3
.3
1.3
-1.0
118.2
65.2
45.0
8.0
-3.3
1.4
-4.6
123.8
67.3
48.2
8.4
.5
1.4
-.9
143.6
78.8
55.6
9.2
-1.8
1.4
-3.1
163.7
90.9
62.9
9.8
-13.2
1.4
-14.6
180.6
6
98 .0 7
B
71.2
11.4 9
-5.8 10
1.3 11
-7.1 12
-15.346 -26.031 -15.611 -22.248
13 NET FINANCIAL INVESTMENT
3.060 -3.784
6.630
4.387
14
N E T ACO. OF FINANCIAL ASSETS
62
259
40
113
GOLD, SDR*S ♦ OFF FGN EXCH
15
-1.909
693
2.343
1.751
DEMAND DEPOSITS ♦ CURRENCY
16
158
-60
-158
173
17
TIME DEPOSITS
1.156
2.274
2.982
4.167
CREDIT MARKET INSTRUMENTS
18
0
0
4
-12
SPONSORED AGENCY ISSUES
19
1.258
1.100
1.382
1.123
20
HOME MORTGAGES
736
162
772
777
OTHER MORTGAGES
21
-129
964
397
2.045
22
OTHER LOANS
3.400
1.025
-2.5 21 -7.830
23
TAXES RECEIVABLE
407
491
119
520
24
TRADE CREDIT
129
145
194
170
25
MISCELLANEOUS
-4.9
3.4
-.7
.9
*
2.0
*
.1
*
1.9
.6
.2
.4
-1.1
3.9
*
-.4
*
1.5
*
-.4
*
1.9
1.8
.5
.5
-2.9
4.2
-.2
.6
*
2.8
*
-.1
*
2.9
.8
.2
*
-1.2
2.7
.1
-1.4
*
2.8
*
-.1
*
2.9
.8
.4
*
-1.4
4.8
-.2
-.1
*
4.9
1.3
.6
.2
2.8
-1.4
1.2
.4
-13.5
2.2
.4
1.0
*
4.6
-.1
.7
.2
3.8
-5.1
1.5
-.1
-8.8
7.0
2.0
-1.7
.1
4.9
.1
.8
.3
3.7
1.3
.6
-.2
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
1 TOTAL RECEIPTS* NIA BASIS
PERSONAL TAXES
2
CORP. PROFITS TAX ACCRUALS
3
4
INDIRECT TAXES
SOCIAL INSURANCE RECEIPTS
5
6
7
8
9
10
11
12
26
27
28
29
30
31
32
33
34
TOTAL EXPENDITURES, NIA BASIS
GOODS ♦ SERVICES
TRANSFERS, ETC.
NET INTEREST
NET SURPLUS, NIA BASIS
- INSURANCE CREDITS TO HH
» G R OSS SAVING
NET INCREASE IN LIABILITIES
TREASURY CURR. ♦ SDR CTFS.
CREDIT MARKET INSTRUMENTS
SAVINGS BONDS
DIRECT EXCL. SVGS. BONDS
AGENCY ISSUES ♦ M T G S .
LIFE ♦ RETIREMENT RESERVES
TRADE DEBT
M ISCELLANEOUS
35 DISCREPANCY
36 MEMO: CORP. TAX RECEIPTS, NET
71.686
32.421
7.647
5.562
26.056
65.731
24.518
9.251
5.818
26.144
75.325
36.512
10.390
6.352
22.071
1
2
3
4
5
18.734
-500
-388
-241
-377
22.247
311
16.615
1.081
15.623
-89
5.065
113
143
22.241
199
23.451
977
22.498
-24
-1.053
9
-365
26.635
260
25.906
960
24.965
-19
90
514
-135
8.3
*
7.0
.4
5.8
.8
1.1
.3
-.1
4.9
*
4.0
1.2
2.9
-.1
1.3
-.1
-.3
7.1
*
6.3
.9
4.5
.9
1.4
-.2
-.3
3.9
.2
1.8
.6
.7
.5
1.4
.5
-.1
6.2
.9
3.6
.7
1.7
1.3
1.4
.7
-.4
15.7
.7
13.0
.9
8.0
4.1
1.4
.6
.1
15.9
.4
13.4
.4
9.9
3.1
1.3
*
.7
3.844
10.168
-1.757
17.081
1.060
9.365
-1.003
9.509
-.5
21.9
*
22.8
-1.7
25.3
.3
28.1
-1.8
32.8
-1.1
35.1
1.7 35
35.0 36
18.406
167
19.2*5
1 .0 1 1
FEDERALLY SPONSORED CREDIT AGENCIES
1 C URRENT SURPLUS
2 NET ACO. OF FINANCIAL ASSETS
DEMAND DEPOSITS ♦ CURRENCY
3
CREDIT M ARKET INSTRUMENTS
4
U.S. G OVERNMENT SECURITIES
5
RESIDENTIAL MORTGAGES 11)
6.
7
FARM MORTGAGES
8
OTHER LOANS
9
TO COOPS IBC)
10
TO FARMERS (FICB)
TO S*L'S CFHLB)
11
MISCELLANEOUS ASSETS
12
13 NET INCREASE IN LIABILITIES
14
CREOIT MAR K E T INSTRUMENTS
SPONS. AGENCY ISSUES (1)
15
16
U.S. GOVERN M E N T LOANS
17
MISCELLANEOUS LIABILITIES
18 DISCREPANCY
132
126
125
132
.1
2.587
-50
2.702
3.468
1.968
777
-3.511
-142
271
-3.640
-65
2.327
1
2.618
-442
2.786
795
-521
-62
902
-1.361
-292
2.105
-54
1.788
-2.161
2.553
609
787
129
-21
679
371
3.960
104
4.434
158
2.918
486
872
479
-10
403
-578
1.7
*
1.6
.4
*
.2
1.0
*
.2
.8
*
2.525
2.056
1.798
258
469
70
2.091
2.338
2.044
294
-247
-110
1.909
2.519
2.358
161
-610
-71
3.952
3.398
3.872
-474
554
124
1.6
1.5
1.5
*
.1
*
(1) ALL G N M A - G UARANTEED SECURITIES BACKED BY MORTGAGE POOLS ARE INCLUDED
IN AGENCY SECURITIES.
THE MORTGAGE POOLS ARE INCLUDED IN RESIDENTIAL
MORTGAGES.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
.1
*
1.6
ll7
1.4
1.4
1.5
*
.1
.1
.1
.1
.7
*
.7
- .4
-.1
.4
.8
.1
.1
.5
*
2.3
*
2.2
.1
.5
.6
.1
.3
.7
.1
5.1
*
5.1
1.0
1.9
.7
1.6
.2
.4
.9
-.1
-.1
*
-.1
*
1.1
.7
-1.8
.2
.5
-2.5
*
.7
.5
.4
.1
.1
*
2.2
2.1
1.9
.2
.1
*
5.0
4.8
5.1
-.2
.2
.1
-.2
-.6
-.6
-.1
.5
*
1 .0
.1
1
3.2
2
* 3
4
3.2
5
-.1
1.6 6
.5 7
8
1.2
.1 9
.2 10
.9 11
* 12
3.2
3.5
3.2
.2
-.3
.1
13
14
15
16
17
18
10 FEBRUARY
GOVERNMENTS
1976
SECTOR STATEMENTS OF SAVING AND INVESTMENT
S EASONALLY A DJUSTED ANNUAL RATES
1969
1970
1971
(BILLIONS OF DOLLARS)
1972
1973
1974
S EASONALLY
ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
HI
iV
1975
STATE AND LOCAL GOVERNMENTS - GENERAL FUNDS
119.7
91.4
7.9
20.3
134.9
101.5
9.0
24.4
152.6
113.7
9.9
29.0
177.4
129.1
37.5
4 0.6
117.6
110.4
7.1
132.2
123.2
9.0
148.9
137.5
11.4
3.7
6.3
- 2.6
163.7
151.0
12.7
13.7
7.9
5.9
-2.7
2 .1
2.8
5.5
-3. 4
6.3
-3.5
13
14
-9.3
1.9
1.4
-5.9
-4.3
7.6
-2.9
- 1 2 .1
6.4
10 .0
7.2
15
16
17
18
6.4
6.4
3.1
3.4
.3
- 2.0
- 1.8
-1.3
-.5
19
.1
- .1
11
12
20
21
22
1 1 .2
23
1 1 .6
10.7
9.9
11.3
2.3
8.9
1 .0
10 .8
12 .2
1.5
3.6
3.4
4.0
-.6
193.8
141.2
209.4
152.1
13.5
43.9
232.4
163.4
14.8
54.2
22 1.2
180.9
168.0
13.0
12.9
9.4
3.5
201.3
189.4
11.9
222.5
207.9
14.6
9.9
-4.1
-5. 4
7.9
-.3
7.2
- 10.8
6.7
1 2 .1
8 .1
12 .2
237.7
165.9
15.0
56.8
242.3 TOTAL RECEIPTS, NIA BASIS
169.9
TAX RECEIPTS
15.3
SOCIAL INSURANCE RECEIPTS
57.1
GRANTS IN AID RECEIVED
219.5
205.5
14.0
224.9
209.9
15.0
-2.7
215.5
201.9
13.6
5.7
9.9
-4.2
16.7
-7.9
8.7
4.1
229.9
214.1
15.8
12.4
15.2
- 2.8
-9.6
4.5
-11.9
1.7
-17.4
.4
1.3
3.6
- 1 .1
9.2
12 .6
.1
- 2.0
.4
.2
1 .2
- 1 .0
.3
.6
.6
18.5
17.8
17.5
2.5
15.0
14.9
14.2
13.8
-.7
14.5
13.3
12.3
11.9
17.5
16.6
15.7
2.9
12.9
.3
.3
1. 1
- .2
12 .2
.8
-8.4
5.7
5.8
5.0
-.3
*
.3
27
28
228.3
160.8
14.7
52.8
156.8
14.3
50.1
9.0
9.1
12 .6
2.8
-.4
- 8.0 N ET FINANCIAL INVESTMENT
3.5
NET ACQ. OF FINANCIAL ASSETS
-4.3
DEMAND DEP. ♦ CURRENCY
-2.7
TIME D E P OSITS
3.1
- .1
-.8
*
.4
*
*
*
.2
.2
1.0
1 .1
13.6
17.9
17.0
16.9
3.4
13.5
*
14.1
13.2
12 .8
-4.7
-3.9
-.7
-3.2
6.0
12 .6
12 .8
- 2 .1
8 .8
12.3
- .8
14.9
13.1
.4
.3
.9
7.7
.1
.9
8.8
8.5
.3
13.7
12 .8
1 2 .1
TOTAL EXPENDITURES, NIA BASIS
PURCH. OF GOODS ♦ SERVICES
NET INTEREST ♦ TRANSFERS
N E T SURPLUS, NIA BASIS
- RETIREMENT CRED I T TO HH
= GROSS SAVING
9.4
9.3
6.4
3.0
11.5
10 .6
-9.9
9.9
-.9
22.0
10 .8
.7
.9
.7
.9
CREDIT MARKET INSTRUMENTS
U.S. GOVT. SECURITIES
DIRECT
U.S. GOVT. AGENCY SEC.
S. ♦ L. OBLIGATIONS
HOME MORTGAGES
TAXES RECEIVABLE
NET INCREASE IN LIABILITIES
CREDIT MARKET BORROWING
S. ♦ L. OBLIGATIONS
SHORT-TERM
OTHER
U.S. G OVERNMENT LOANS
TRADE DEBT
9.6
5.3
5.1 DISCREPANCY
EMPLOYEE RETIREMENT FUNDS ARE IN INSURANCE SECTOR.
U.S. GOVERNMENT
9
10
11
12
13
14
15
16
17
18
197.0
94.8
36.2
19.0
4 7.0
192.1
92.2
30.8
19.3
4 9.7
198. 6
89.9
33.5
20.4
54.9
227.5
108.2
36.6
188.4
97.5
78.1
12.9
8.5
204.2
95.6
94.3
14.3
- 1 2 .1
2.5
- 14.6
220.6
96.2
110.4
14.0
- 22.0
2.9
-24.9
244,
102 .
128.
-15.4
.5
- 2.0
2.5
.3
-24.8
4.2
- 2.2
3.3
- 2 1 .1
.1
.1
2 .6
1.6
7.0
5.7
3.3
1.4
1 .1
- .2
2.9
-1.3
.1
.6
22
23
24
25
29
30
31
32
33
3.5
-3.0
2.8
- .1
2 .6
- 2.6
3.2
*
-.3
.4
3.2
1.5
-1.7
20.0
62.8
- .1
-.3
- 1.0
*
2 57.9
114.7
42.5
2 1 .2
79.4
264.8
102.0
144.6
18.2
-6.9
2. 1
-9.0
-8.9
3.1
*
- 1.8
- .2
3.0
288.4
131.4
21.7
89.4
300.
111.
167.
-10.5
5.7
1.4
-4.5
*
7.4
- .6
3.6
1 .0
1.3
5.6
.1
-2.5
.3
-3.6
-.4
-.9
-2.4
1 .6
12 .8
.3
12 .6
- .1
2.5
-.6
29.1
.5
25.5
2.4
23.6
-.5
2.9
-.7
.5
1 .2
283.6
137.6
32.0
22.3
91.7
250.2
99.3
35.5
23.5
91.9
293.3
130.5
43. 4
25.5
93.9
306.9
135.2
49.9
25.4
96.4
356.9
123.2
210.2
23.5
-73.4
3.7
-77.1
337.4
119.4
195.6
22.4
-53.8
1.4
-55.1
352.2
119.2
210.4
14.8
-116.8
363.8
124.2
216.2
23.4
-70.5
-1.7
-68.7
374.1
129.8
218.6
25.7
-67.2
.5
-67.7
-79.2
10.3
.5
2.9
-59.5
14.0
-116.8
-4.2
- 68.8
25.4
.5
-71.8
1.0
10.3
.7
17.4
*
.1
10 .6
♦
4.9
2.4
3.3
-5.9
1.5
6.2
2.9
8.3
-16.6
.5
.7
.6
21.0
.5
17.3
3.3
10 .6
3.4
3.2
- .1
12.0
.4
9.7
2.7
5.0
2.0
2 .1
.1
12.0
3.0
9.0
- .2
32.0
41.6
89.5
.9
85.2
4.0
81.8
-.6
3.7
.4
-.7
-.4
- .1
39.2
283.5
125.7
40.2
24.2
93.5
-4.1
45.2
22.6
- 102.0
.2
1.4
-.6
4.4
4.4
.7
-.7
- 12 .2
2 .1
.6
12 .0
.6
11.7
*
4.6
3.1
4.0
- 1.8
1 .6
.8
6.0
.2
- 12 .2
- .2
8.8
_
4.2
3.1
1.5
6.8
2.0
.5
73.5
.7
71.9
4.1
69.8
- 2.0
1.4
- 1 .1
.7
11 2 .6
1 .2
94.2
77.7
95.9
4.0
92.3
-.4
14.8
94.1
4.2
90.0
78.9
3.8
75.1
- .1
- .1
-1.7
-.3
1.4
-3.6
4.3
48.6
*
47.7
2.0
-1.3
.8
.1
45.2
1.0
.5
1.0
PERSONAL TAXES
CORP. PROFITS TAX ACCRUALS
INDIRECT TAXES
SOCIAL INSURANCE RECEIPTS
GOODS ♦ SERVICES
TRANSFERS, ETC.
NET INTEREST
ET SURPLUS, NIA BASIS
GROSS SAVING
NET ACQ. OF FINANCIAL ASSETS
GOLD, SDR*S ♦ OFF FGN EXCH
DEMAND DEPOSITS ♦ CURRENCY
TIME DEPOSITS
CREDIT MARKET INSTRUMENTS
SPONSORED AGENCY ISSUES
HOME MORTGAGES
OTHER MORTGAGES
OTHER LOANS
TAXES RECEIVABLE
TRADE CREDIT
MISCELLANEOUS
NET INCREASE IN LIABILITIES
TREASURY CURR. ♦ SDR CTFS.
CREDIT MARKET INSTRUMENTS
SAVINGS BONDS
DIRECT EXCL. SVGS. BONDS
AGENCY ISSUES ♦ M T G S .
LIFE ♦ RETIREMENT RESERVES
TRADE DEBT
MISCELLANEOUS
4.1_ DISCREPANCY
43.1 MEMO: CORP. TAX RECEIPTS,
10
11
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
FEDERALLY SPONSORED CREDIT AGENCIES
1
.1
.1
.2
.2
.4
.6
.5
.5
.5
.5
2
9.2
*
8.9
-.4
3.9
10 .8
3.4
6 .6
22.0
.1
23.7
*
24.1
1 1 .0
1 1 .8
- .2
8.8
6.8
3
4
5
6
7
.6
8
4.8
9
.2
.6
10
11
12
13
14
15
16
17
18
4.0
.3
9.1
8.8
9.1
-.3
.4
.1
*
10 .0
1.9
5.4
.5
2.3
.3
.7
1.3
.1
3.2
- 1 .2
5.6
.7
- 2.0
*
.7
-2. 7
*
7.0
-.4
5.5
1 .2
.8
9.3
1 .1
7.2
1.7
1.7
6.7
-.3
6.5
2 1 .8
6 .2
6 .2
23.4
19.6
19.6
-
-
2.5
3.3
3.8
3.8
-.5
.1
.1
.1
.8
.2
2.0
-.2
12 .2
2.8
8.5
.3
.3
.4
*
-.4
10 .8
8 .2
8 .2
20.3
1.3
8.4
.3
2 .2
.2
1.0
2 2 .1
21.4
.7
1.3
.3
*
11.5
1.0
10 .2
2.7
-2.4
.4
1 .1
-3.9
- .6
10.5
10.3
1 0 .1
.2
.2
*
11.9
11.4
8.7
3.1
- 11 .0
- 1 .1
.5
-10.5
.1
1 1 .6
*
10.4
-1.3
11.3
3.0
- 2.8
.5
2.4
-5.7
-1.5
10.5
9.4
7.8
7.6
6.5
.4
-.5
1.0
1 .2
1 .2
.2
-.3
6 .2
-6.7
9.1
2.5
.5 CURRENT SURPLUS
16.5
.5
17.7
.7
11.7
2 .1
1 .2
.6
.8
-.2
1.0
3.1
1.7
.7
.7
-1.7
6 .1
16.3
15.2
17.1
-1.9
7.9
7.3
.6
- 1.8
-.2
DEMAND DEPOS I T S ♦ CURRENCY
CREDIT MARKET INSTRUMENTS
U.S. G OVERNMENT SECURITIES
RESIDENTIAL MORTGAGES (II
FARM MORTGAGES
OTHER LOANS
TO COOPS (BC)
TO FARMERS (FICB)
10
TO S+L *S (F H L B )
11
MISCELLANEOUS ASSETS
12
CREDIT MARKET INSTRUMENTS
SPONS. AGENCY ISSUES (1)
U.S. GOVERN M E N T LOANS
1 .1
MISCELLANEOUS LIABILITIES
.3 DISCREPANCY
(1 )
IN AGENCY SECURITIES.
MORTGAGES.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
THE MORTGAGE POOLS ARE INCLUDED IN RESIDENTIAL
13
14
15
16
17
18
10 FEBRUARY 1976
BANKING SYSTEM
BANKING SYSTEM
SECTOR STATEMENTS OF SAVING AND INVESTMENT
UNADJUSTED NET FLOWS
U N A DJUSTED NET FLOWS
1975 UNADJUSTED NET FLOWS
I
II
III
(» MILL.)
IV
1962
YEAR TOTALS {$ BILL.)
1964
1966
1965
1963
1967
1968
M ONETARY AUTHORITIES
1 CURRENT SURPLUS
2 NET ACQ. OF FINANCIAL ASSETS
3
4
5
6
7
8
9
10
GOL D ♦ FOREIGN EXCHANGE
TREASURY CURR. ♦ SOR CTFS.
F.R. FLOAT
F.R. LOANS TO DOMESTIC BANKS
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
ACCEPTANCES
BANK LOANS N.E.C.
11 NET INCREASE IN LIABILITIES
12
MEMBER BANK RESERVES
13
VAULT CASH OF COML. BANKS
14
15
16
17
18
19
DEMAND DEPOSITS ♦ CURRENCY
DUE TO U.S. GOVERNMENT
DUE TO REST OF THE WORLD
CURRENCY OUTSIDE BANKS
PROFIT TAXES PAYABLE
MISCELLANEOUS LIABILITIES
34
32
26
29
*
.1
-.5
*
*
*
*
1
3.240
35
136
162
514
2.393
2.364
29
1.256
5.382
208
132
615
841
3.586
3.394
192
1.344
-172
293
1.309
-1.173
1.087
835
252
1.7
2 .2
3.4
*
2.3
-1.3
4.2
-.3
.7
.3
4.9
-.5
.5
3.6
2
- 1.2
3
4
5
.1
0
0
*
2.8
.1
1.6
.1
.8
1.0
11
398
-372
-252
1.471
1.817
-346
0
0
3.206
4.594
-1.078
1.224
-4.461
-478
5.356
3.387
1.118
1.315
-3.284
9
562
79
-632
-267
-52
5.770
2.277
-148
3.641
700
1.468
-148
-620
122
-11
271
162
3.916
105
176
3.635
4
-531
-.8
*
.6
-.1
2.0
1.9
1.2 10
-.4
•
-.3
*
2.9
-.2
-.4
.1
- .1
.1
3.4
3.5
3.8
3.7
*
*
3.5
3.5
*
*
-.1
.1
2 .1
3.8
2.2 •
-.4
-.3
.3
.4
.3
2.0
2.3
- .1
2 .1
.2
.2
2.0
.1
-.5
*
-.1
2 .1
*
2.8
1.9
.1
.3
.6
- .1
2.6
.2
.1
*
*
*
*
.7
*
.2
*
1.7
.5
*
4.2
1.3
.6
*
.1
*
4.8
4.8
•
.2
.9
*
3.7
3.8
-.1
6
7
8
9
10
4.8
1.3
.5
3.6 11
3.0
.9
*
1.5 14
- 1.0 15
.1 16
2.4 17
18
. 1 19
2 .1
*
*
.8 12
1.3 13
COMMERCIAL BANKING (1)
1 CURRENT SURPLUS
2 PLANT «• EQUIPMENT
3 NET ACO. OF FINANCIAL ASSETS
4
DEMAND DEPOSITS ♦ CURRENCY
5
TOTAL BANK CREDIT
6
CREDIT M A RKET INSTRUMENTS
7
U.S. GOVT. SECURITIES
8
DIRECT
9
AGENCY ISSUES
1.566
1 .1 1 0
1.073
1.117
1.032
1.157
904
1.172
1.5
.7
1.7
.9
1.9
.8
.9
-11.664
13.725
4.588
26.233
-42
23.787
18.633
8.543
8.286
257
21.5
*
26.2
*
23.2
22.7
.3
29.8
*
28.6
28.7
- 2.8
-3.4
1.4
18.7
*
18.6
17.6
-2.9
-3.3
.3
.5
.6
8 .2
10.8
8
8
-14.770
-13.639
4.039
3.728
311
16.497
15.467
9.149
8.564
585
2.246
6.093
8 .559
8.538
-185
-614
631
-62
-140
3.500
1.771
620
660
449
1.377
384
623
390
1.687
168
419
637
463
9.7
5.7
*
8.9
3.9
*
13
14
OTHER SECURITIES ♦ MTGS.
S. ♦ L. OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
2 .1
1.9
2.8
2 .2
15
16
17
18
OTHER CR. EXCL. SECURITY -17.493
CONSUMER CREDIT
-2.905
-14.744
BANK LOANS N.E.C.
OPEN-MARKET PAPER
156
2.818
-3.843
1.311
-4.900
-2 54
8.403
764
5.139
2.500
8 .1
1 1 .6
1.608
990
2.3
5.8
*
3.5
7.9
0
0
0
0
*
*
-1.131
1.030
-3.847
5.154
1.0
1.0
3.516
-3.820
3.402
-4.939
-394
2.553
4.505
-2.976
819
-2.074
1.834
2.728
.9
*
-.7
*
.7
1.3
.2
.1
1.5
-11.767
-21.720
-857
-20.863
12.635
15.260
-833
16.093
5.141
-3.185
103
-3.288
25.737
15.762
-50
15.812
20.3
4.5
18.5
24.5
6.7
*
6.7
5.437
2.412
2.900
125
8.912
-911
9.661
162
15.6
3.0
14.6
2.7
12 .6
14.4
3.7
10.7
.1
*
.1
250
-59
1.309
-1.173
1.834
.1
.1
*
- .1
10
11
12
19
20
21
22
23
CORPORATE EQUITIES
SECURITY CREDIT
VAULT CASH ♦ MEM. BANK RES.
OTHER INTERBANK CLAIMS
MISCELLANEOUS ASSETS
24 NET INCREASE IN LIABILITIES
25
DEMAND DEPOSITS, NET
26
U.S. GOVERNMENT
27
OTHER
220
-6
21
-20
28
29
30
31
TIME DEPOSITS
LARGE NEGOTIABLE CD'S
OTHER AT C O M MERCIAL BANKS
AT FOREIGN B ANKING AGS.
9.427
-5.084
14.318
193
3.540
-6.342
9.761
32
33
34
35
36
37
CORPORATE EOUITY ISSUES
CREDIT MARKET DEBT
F.R. FLOAT
BORROWING AT F.R. BANKS
OTHER INTERBANK CLAIMS
PROFIT TAXES PAYABLE
2 50
2.060
162
51<V
-3.820
175
250
-268
-372
-252
-394
-500
250
233
615
841
-2.976
38
39
40
MISCELLANEOUS LIABILITIES
LIAB. TO FGN. AFFILIATES
OTHER
1.185
-2.438
3.623
-4.629
-1.400
-3.229
2 53
-1.134
41 DISCREPANCY
121
19.0
1.3
-.2
•6
1.2
3.3
*
*
.6
- .1
.2
2.2
-.6
2.8
-.2
21.3
*
18.1
17.5
-3.1
-3.4
.3
40.9
1.0
.1
37.4
35.9
9.4
6.5
2.9
3.1
1.3
1
2
46.3
*
40.1
38.7
3.3
3
4
5
2 .1
8
1.2
9
6
7
7.1
2.3
14.6
9.1
15.5 10
5.2
- .1
.1
.8
3.2
2.5
2.4
2.3
2.5
.3 12
3.5 13
3.2 14
14.2
3.8
9.7
. .7
20.7
4.6
16.4
-.3
13.5
1 .1
2.0
*
.4
.1
-.2
.1
.6
1.5
.7
1.9
*
1.8
1 .0
.5
1.2
.7
28.5
5.2
- 1.0
20 .1
1 .6
39.1
44.4 24
13.3 25
- . 2 26
13.5 27
20 .1
13.3
23.9
4.7
19.1
20.7
3.1
17.4
.2
28
29
30
31
-.1
1.4
.9
*
.7
-.1
32
33
34
35
36
37
3.6
.1
2.3
2.3
.
2.6
11 .8
.3
-.3
*
*
-.5
1 .2
6 .2
3.7
16.4
2.6
9.8
-.5
2 .1
-.6
13.8
*
*
*
.3
2 .2
11.9
2.4
7.5
.1
12 .0
.2
1 1 .8
.1
*
.1
.1
*
If9
-.4
.1
.2
.2
-.1
.1
- .1
.1
*
*
1.0
- .1
*
8.6 11
20.0
5.7
15.7
-1.4
15
16
17
18
.1 19
1.3 20
2.0 21
.7 22
3.4 23
0
♦
.5
3.926
1.920
2.006
-1.098
1.699
-2.797
2.3
.4
1.4
- .1
- .8
2.3
.7
.9
1.8
.1
1.8
5.0
2.9
2.0
2.0
1.6
7.6 38
2.3 39
5.3 40
428
-764
-.4
.6
-.7
- .1
- .1
- .1
-.1 41
0
(1) CONSISTS OF CHARTERED COMMERCIAL BANKS, THEIR DOMESTIC AFFILIATES,
EDGE ACT CORPORATIONS, AGENCIES OF FOREIGN BANKS, AND BANKS IN U.S.
POSSESSIONS.
EDGE ACT CORPORATIONS AND AGENCIES OF FOREIGN BANKS
APPEAR TOGETHER IN THESE TABLES AS "FOREIGN BANKING AGENCIES."
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
20.0
2 .1
1.0
-.9
.6
10 FEBRUARY 1976
BANKING SYSTEM
SEASONALLY ADJUSTED ANNUAL RATES
1969
1970
1971
BANKING SYSTEM
15
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
1972
1974
1973
1975
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
IV
I
11
III
MONETARY AUTHORITIES
1
*
*
- .1
.1
.1
.1
.1
A
.1
.1
2
4.2
8.3
2 .2
7.8
4.7
- .8
-.2
1 .6
.8
.2
.1
.5
.9
-.3
8.9
8.7
-.4
.7
-.4
1.9
.3
.4
5.8
♦
23.3
-.1
.1
1 1 .2
.1
1.0
17.6
3
4
5
5.3
-1.4
.7
.2
-.2
6
7
8
9
*
*
4.2
4.2
♦
5.0
5.0
*
10
11
12
4.1
5.3
.2
.1
-.3
13
14
15
16
17
18
19
3.3
.5
-.1
2.8
*
.5
2 .1
3.1
-.4
*
3.5
*
.4
.5
8.4
3.6
.5
4.4
.9
.1
3.4
*
- .1
2 .1
- 2 .1
.4
-.9
-.7
9.2
9.3
*
7.7
1.4
.1
.5
“1 .1
- 1 .0
5.2
.9
“
4.6
- 1 .2
1 .1
2.0
3.2
3.4
-.5
7.0
.4
- .1
- .1
.2
4.4
*
3.9
6.3
.1
.8
- 2.2
- 1 .1
- .1
1 .0
.1
.1
-
-
1 1 .1
.2
.8
17.5
14.4
-5.6
5.7
-11.5
1.3
23.1
10.4
4.4
*
9.9
2.7
.3
6.9
14.4
7.2
10 .2
-.6
- .6
6.0
- .2
- .2
.1
.8
8.5
8.4
-.1
6 .2
.1
.5
7.2
.7
9.0
8.9
1.7
-2.3
1.5
5.0
6.3
-1.4
1.2
19.8
19.0
.8
12 .0
.3
. 1 CURRENT SURPLUS
-1.9 NET INCREASE IN LIABILITIES
-13.9
MEMBER BANK RESERVES
7.1
VAULT CASH OF COML. BANKS
7.8
.5
4.5
*
7.1
1.5
.7
4.9
*
- .2
1 .1
.6
- 2 .1
4.4
4.5
4.0
4.6
26.7
*
23.1
37.5
37.6
37.2
.4
- 1 .1
6.3
1
“ 1.8 NET ACQ. OF FINANCIAL ASSETS
2
-.7
GOLD ♦ FOREIGN EXCHANGE
3
1 .2
TREASURY CURR. ♦ SDR CTFS.
4
F.R. FLOAT
5
1 .1
-3.8
6
F.R. LOANS TO DOMESTIC BANKS
.4
CREDIT M ARKET INSTRUMENTS
7
8
- .6
U.S. G O V ERNMENT SECURITIES
1 .0
A CCEPTANCES
9
10
BANK LOANS N.E.C.
DEMAND OEPOSITS + CURRENCY
DUE TO U.S. GOVERNMENT
OUE TO REST OF THE WORLD
CURRENCY OUTSIDE BANKS
PROFIT TAXES PAYABLE
M ISCELLANEOUS LIABILITIES
11
12
13
14
15
16
17
18
19
COMMERCIAL BANKING (1)
1
2
3.8
1.9
3.4
2 .8
2 .1
2.3
3
4
5
22.0
45.2
7
9
- 10 .0
-9.7
-.3
10
11
12
.2
-.1
13
14
3.0
2.4
15
16
17
18
19
6
8
20
21
22
3.5
2.7
4. 5
3.0
78.3
100.2
.1
.1
.2
36.6
35.1
10.4
6.9
3.5
51.4
50.6
6.9
3.1
3.8
75.4
70.5
6.5
2.4
4.1
.3
83.3
13.9
10.7
23.8
.9
25.7
7.2
1.7
9.0
7.8
25.9
5.7
.5
1 .6
1.3
5.7
4.2
22.7
4.7
17.6
.5
10.7
2.9
5.8
19.8
6.7
12.4
*
.1
*
.1
.1
*
17.2
18.2
5.6
- 1 .1
.8
2.0
58.5
12 .6
.8
4.6
4.6
6 .2
83.9
32.9
*
27.8
26.6
30.3
29.1
- 2 .1
*
-9.3
-15.9
23.0
1.2
2.5
52.0
*
53.6
49.5
50.8
48.3
2.4
2.2
1 2 .1
2.7
-2.5
2.5
7.1
2.5
1.7
.9
- .1
- .2
86.6
62.2
64.6
-1.3
- 8.8
7.6
- 2 .6
3.6
1.0
4.4
20.6
19.1
5.5
6.4
1.3
1 1 .0
8.8
1 .1
2 .1
6.5
1.9
2.2
-.1
38.4
62.0
44.5
- 10 .1
2.8
- .6
28.5
52.1
39.5
-12.9
3.4
-41.2
-5.9
-38.1
10 .1
- .2
10 .6
- .8
6 .1
2 .2
1.2
_
2.8
-13.4
-3.4
-13.9
4.0
_
_
_
6 .6
4.0
-10.3
- 1 .6
3.6 CURRENT SURPLUS
4.7 PLANT ♦ EQUIPMENT
55.0 NET ACQ. OF FINANCIAL ASSETS
- .2
DEMAND D EPOSITS ♦ CURRENCY
TOTAL BANK CREDIT
CREDIT M ARKET INSTRUMENTS
U.S. GOVT. SECURITIES
DIRECT
AGENCY ISSUES
43.8
35.2
9.8
10.4
-.5
3
4
5
6
7
8
9
10
11
12
1.5
.3
.9
8.5
.7
1.7
3.3
2.9
OTHER SECURITIES ♦ MTGS.
S. ♦ L. OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
13
14
-2.7
3.3
-6.3
.3
16.8
3.5
6.7
6.5
OTHER CR. EXCL. SECURITY
CONSUMER CREDIT
BANK LOANS N.E.C.
OPEN-MARKET PAPER
15
16
17
18
_
-
-3.4
-2.4
1.2
4.1
1.7
- 1.0
1.4
2.3
3.5
-.3
7.1
15.0
1.0
8.8
6.0
-5.4
9.5
-15.3
13.6
31.7
51.1
40.1
- 8 .2
48.3
26.4
13.2
5.3
54.7 NET INCREASE IN LIABILITIES
DEMAND DEPOSITS, NET
-4.7
U.S. G O V ERNMENT
-7.5
OTHER
2.8
24
25
26
27
TIME DEPOSITS
LARGE NEGOTIABLE CD'S
OTHER AT COMMERCIAL BANKS
AT FOREIGN BANKING AGS.
28
29
30
31
CORPORATE EQUITY ISSUES
CREDIT MARK E T DEBT
F.R. FLOAT
BORROWING AT F.R. BANKS
OTHER INTERBANK CLAIMS
PROFIT TAXES PAYABLE
32
33
34
35
36
37
MISCELLANEOUS LIABILITIES
LIAB. TO F G N . AFFILIATES
OTHER
38
39
40
1.8
1.7
5.0
24
25
26
27
19.8
4.9
*
4.9
43.6
28
29
30
31
1 .2
7.2
1 1 .2
56.8
13.0
2.9
8.3
2.2
10.8
76.3
16.3
.7
15.6
-9.5
-12.5
2.9
38.0
15.2
22.4
.4
41.4
8.7
32.4
.3
42.3
9.8
33.0
-.5
32
33
34
35
36
37
*
5.8
*
*
.1
.6
1.2
-5.0
3.2
1.6
.1
1.7
.3
-.3
1.7
*
4.4
-.4
1.9
1.4
38
39
40
16.9
7.9
8.9
-3.7
-6.9
3.2
-2.7
-4.1
1.3
9.3
.9
8.4
17.5
41
- .2
-.4
- 1 .2
- 1 .1
.8
.2
.1
-.2
97.3
12 .6
- 1.0
13.6
50.9
20.0
30.3
.6
1 .2
10 .6
-.9
-.7
6.0
.1
10 .2
12 .2
-6.9
7.3
10.9
-11.9
3.3
VAULT CASH «• HEM. BANK RES.
OTHER INTERBANK CLAIMS
MISCELLANEOUS ASSETS
81.4
4.1
-5.1
9.2
- 1.6
7.8
-5.1
-24.1
4.0
-28.1
57.0
28.5
28.3
27.3
-9.9
36.6
25.5
-20.3
45.1
.8
24.0
-25.4
48.9
.5
16.6
9.6
6.5
.5
43.1
-3.6
46.1
1.0
1.0
2.0
1.0
8.2
1.0
- 1 .1
1.0
1.7
7.2
.7
-15.3
-2.3
1.5
- 1 .6
-.5
1.0
-.2
1 .1
-11.9
-.5
4.8
7.7
-2.9
1 1 .0
6.8
- 1.0
-1.3 DISCREPANCY
.2
2.4
- 1 .1
- 1.0
7.1
.1
6 .1
.6
- .1
-5.4
-.3
-.2
-.6
- .2
- 8 .2
-9.8
16.4
11.7
4.6
7.1
-.4
1.6
- 10.0
-5.6
-4.4
-1.5
-1.4
- 1 .1
- 1.2
-.9
1 .1
8 .6
19
4.8
.3
-14.5
CORPORATE EQUITIES
SECURITY CREDIT
.8
1.6
2.6
8.0
.9
.9
1 .2
.6
-3.8
7.3
-.1
4.2
(1) CONSISTS OF CHARTERED COMMERCIAL BANKS, THEIR DOMESTIC AFFILIATES,
EDGE ACT CORPORATIONS, AGENCIES OF FOREIGN BANKS, AND BANKS IN U.S.
POSSESSIONS.
EDGE ACT CORPORATIONS AND AGENCIES OF FOREIGN BANKS
APPEAR TOGETHER IN THESE TABLES AS "FOREIGN BANKING AGENCIES.*
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
1
2
1.4
23
.2
4.9
3.8
20
21
22
23
41
10 FEBRUARY 1976
COMMERCIAL BANKING SUBSECTORS
16
C OMMERCIAL BANKING SUBSECTORS
SUBSECTOR STATEMENTS FOR COMPONENT GROUPS IN COMMERCIAL BANKING
UNADJUSTED NET FLOWS
UNA D J U S T E D NET FLOWS
1975 UNADJUSTED NET FLOWS
I
II
III
(* MILL.)
IV
1962
1963
YEAR TOTALS ($ BILL.>
1964
1965
1966
1967
1968
2 .1
1.0
2.6
1.0
3.1
1.3
1
2
20.3
17.5
17.0
-3.1
-3.4
.3
39 .8
36.8
35.3
9.2
6.3
2.9
43.5
39.6
38.3
3.2
3
4
5
2.0
1 .2
7
7.0
2.3
14.3
9.0
15.5
9
COMMERCIAL BANKS
1.566
1 .1 1 0
1.073
1.117
1.032
1.157
904
1.172
1.5
.7
1.7
.9
-7.244
-13.171
-12.299
4.270
3.799
471
13.269
16.772
15.703
9.091
8.515
576
6.340
2.174
6.042
8.548
8.494
54
24.488
22.973
17.929
8.286
8.036
250
21.3
19.9
18.8
1.3
18.1
18.2
17.6
-2.9
-3.2
.3
-322
-651
627
-96
3.414
1.741
631
640
402
1.365
-39
397
609
398
1.728
140
400
653
535
9.6
5.6
*
OTHER CR. EXCL. SECURITY -16.247
-2.905
CONSUMER CREDIT
-13.498
BANK LOANS N.E.C.
OPEN-MARKET PAPER
156
SECURITY CREDIT
-872
3.198
1.988
990
1.069
-3.871
1.311
-4.928
-254
-3.868
7.915
764
4.651
2.500
5.044
1.854
3.516
-1.662
-5.920
-4.939
-981
3.627
4.505
-878
-1.276
-2.074
798
1 C U R RENT SURPLUS
2 PLANT ♦ EQUIPMENT
3 NET ACQ. OF FINANCIAL ASSETS
TOTAL BANK CREDIT
4
CREDIT M ARKET INSTRUMENTS
5
6
U.S. GOVT. SECURITIES
7
DIRECT
8
AGENCY ISSUES
9
10
11
12
13
14
15
16
17
18
19
OTHER SECURITIES ♦ MTGS.
S. ♦ L. OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
20
21
INTERBANK CLAIMS
VAULT CASH ♦ MEM. BK. RES.
DEP. AT FGN. BANKING AGS.
22
MISCELLANEOUS ASSETS
23 NET INCREASE IN LIABILITIES
24
DEMAND DEPOSITS, NET
U.S. GOVERNMENT
25
26
OTHER
-202
220
- .1
1.4
.8
24.8
23.1
22.6
.3
- .2
2 .1
.9
29.9
28.5
28.4
- 2.9
-3.4
.5
8 .1
3.6
10.7
5.2
.1
- .1
.1
.8
2.3
3.1
2.5
2.4
2.3
2 .2
14.2
3.8
9.6
.7
.5
20.6
13.1
1 1 .8
4.6
16.3
-.3
9.3
2.4
7.3
1 .1
2.0
.1
.5
1.5
1.3
1.3
.7
.7
*
2.0
1 .8
1.8
2.0
8.9
4.0
*
2.7
1.9
2.2
2 .2
8.0
1 1 .6
2.3
5.9
3.5
7.8
- .1
1 .1
.2
.6
.9
.9
*
-.7
-.7
*
- .1
2.6
1.9
*
2.4
6
8
8.6 10
.3 11 ’
3.5 12
3.2 13
*
19.5
5.7
15.3
-1.4
1.3
14
15
16
17
18
2 .1 19
2.0 20
* 21
4.073
2.417
539
2.791
.4
.6
.5
.7
.9
1.3
1.9 22
-7.347
-20.265
-8 57
-19.408
12.179
13.254
-833
14.087
6.893
-2.540
103
-2.643
23.992
15.681
-50
15.731
20.0
17.9
2.3
23.1
19.1
38.1
11.9
1.2
- .6
*
3.4
2.9
6.0
28.6
5.5
- 1.0
6.4
41.7 23
12.3 24
- . 2 25
12.5 26
9.234
-5.084
14.318
3.419
-6.342
9.761
5.312
2.412
2.900
8.750
-911
9.661
15.6
3.0
14.3
3.7
10.7
14.5
2.7
20.0
13.3
13.8
23.8
4.7
19.1
20.6 27
3.7
16.4
2 50
250
47
-244
-500
250
46
1.274
250
14
-389
.1
.2
0
0
-37
-372
-252
-642
615
841
-2.914
48
1.172
1.309
-1.173
1.622
18
4.6
27
28
29
TIME DEPOSITS
LARGE NEGOTIABLE CD'S
OTHER
30
31
32
33
CORPORATE EQUITIES
CORPORATE BONDS
SECURITY R.P.'S
PROFIT TAXES PAYABLE
34
35
36
37
38
39
40
INTERBANK LIABILITIES
F.R. FLOAT
BORROWING AT F.R. BANKS
DEM. DEP. OF FGN. BK. AGS.
TIME DEP. OF FGN. BK. AGS.
LOANS FROM AFFILIATES
LOANS FROM FGN. B K . AGS.
-1.482
162
514
-3.107
26
0
0
0
923
-942
768
-604
*
-.3
*
*
—
*
41
42
43
MISCELLANEOUS LIABILITIES
L I A B . TO FOREIGN BRANCHES
OTHER
2.735
-2.075
4.810
-4.010
-39
-3.971
3.193
421
2.772
-1.486
1.776
-3.262
- 1 .2
1.7
- 1.0
.1
1 .6
353
-1.134
428
-764
-.4
.6
44 DISCREPANCY
1.9
10
1.996
175
0
1.668
-139
12 .6
6.0
11.8
1 .6
-.5
2 .1
-.6
♦
.5
*
.5
-.5
.6
.2
-.1
.8
1 .1
- .1
.1
-.2
.5
- .2
.4
*
-.4
-.4
.1
.6
-.1
*
-
- .2
.2
11 .6
*
.3
3.1 28
17.4 29
-.1
30
.3 31
*
- .2
- .1
1.0 32
- . 1 33
.3
.3
1.0
.1
1.6 34
.1
.1
*
.9
.9
*
.7
—
*
35
36
37
38
39
40
*
- .1
.1
.2
- .1
- .1
.8
.1
1.8
.2
1 .2
6 .1 41
1.8 42
4.3 43
- .1
-.1 44
.1
-
-
-
.7
.3
1.5
4.1
2.7
1.4
-.7
-.1
-.1
-
.1
1.4
DOMESTIC A FFILIATES OF CO M MERCIAL BANKS
---------- --------- --------- ------------- ------------------------ ------------ -------- --------- --------~
1 NET ACO. OF FINANCIAL ASSETS
BANK LOANS N.E.C.
2
3
LOANS TO AFFILIATE BANKS
-2 24
-224
-10
-10
0
-171
-171
0
0
0
4 NET INCREASE IN LIABILITIES
COMMERCIAL PAPER ISSUES
5
MISCELLANEOUS LIABILITIES
6
-2 24
611
-635
-10
-171
66
-237
-12 1
-
-175
165
-320
199
“
-121
-121
“
~
~
“
-
-
-
“
-
-
1 NET ACO. OF FINANCIAL ASSETS
CREOIT MARKET INSTRUMENTS
2
U.S. GOVERNMENT SECURITIES
3
4
STATE ♦ LOCAL OBLIGATIONS
CORPORATE BONDS
5
6
BANK LOANS N.E.C.
OPEN-MARKET PAPER
7
8
0
-2 59
-3.107
26
923
-5 53
Q
10
11
12
13
CCRPORATE EQUITIES
SECURITY CRED I T
DEM. DEPOSITS AT COML. BANKS
TIME DEPOSITS AT COML. BANKS
LOANS TO BANKS
MISCELLANEOUS ASSETS
14 NET INCREASE IN LIABILITIES
DEMAND DEP. IN MONEY STOCK
15
16
TIME DEPOSITS
17
DEPOSITS OF BANKS
18
LOANS FROM BANKS
19
20
21
MISCELLANEOUS LIABILITIES
DUE TO FOREIGN AFFILIATES
OTHER
12
7
- 1.022
0
418
-328
38
18
-14
-370
0
-1.598
124
-60
0
-39
0
1.668
-139
-942
198
-2
-13
199
0
.1
.1
*
.1
*
.1
.1
*
-
♦
21
-2.914
48
768
355
1.622
18
-604
-84
1.849
81
162
798
636
.1
*
*
*
*
172
-77
249
.1
.1
.1
418
2.006
-981
104
-1.598
-645
125
-878
-1.153
-752
-363
-389
-832
-1.361
529
953
1.499
-546
.4
-.1
- .1
- .1
0
110
-4.233
-1.455
193
-1.662
-557
121
1.849
787
168
-5
15
609
0
- .2
*
*
.2
1.3
.1
*
*
.1
-.2
.2
*
*
*
.1
-.3
.2
.9
-.1
-.2
1.3
.7
*
-.2
-.2
*
.4
*
*
.1
.4
- .1
.1
*
*
- .1
.4
.2
.2
*
.1
*
.1
.1
.1
*
*
____
.7
.4
- .1
♦
.4
.1
.1
.1
-.1
.2
.7
*
*
*
.1
*
.6
.1
- .2
.1
.3
.3
.1
.1
*
.3
*
.1
.1
.5
.4
1
2
3
~
“
EDGE ACT C O RPORATIONS AND AGENCIES OF FOREIGN BANKS
-4.233
-1.263
-260
“
~
4
5
6
___
.7
.4
.1
.1
*
.1
2.5
.4
♦
-.1
*
.4
~
1
2
3
4
5
6
7
.1
.1
8
.9
.1
-.7
.7
*
1.4
9
10
11
12
13
.7
*
*
2.5 14
1.0 1 ^
.2 16
* 17
.1 18
.5
.5
*
1.2 19
.5 20
.7 21
.1
.1
BANKS IN U.S. POSSESSIONS
1 NET ACQ. OF FINANCIAL ASSETS
DEMANO D EPOSITS ♦ CURRENCY
2
3
4
5
6
7
8
9
CREDIT M A RKET INSTRUMENTS
U.S. GOVERN M E N T SECURITIES
STATE ♦ LOCAL OBLIGATIONS
C ORPORATE BONDS
HOME MORTGAGES
COMMERCIAL MORTGAGES
M I SCELLANEOUS ASSETS
10 NET INCREASE IN DE P O S I T L I A B .
37
8
48
8
102
20
12
47
-62
0
14
-8
-75
37
48
17
3
20
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
17
-6
98
71
147
29
25
-3
34
62
-118
21
17
-42
38
89
33
4
-16
-72
.1
.2
.1
.1
*
*
♦
-
*
*
*
*
*
*
21
*
*
*
.1
17
.1
.2
*
*
*
-
*
*
*
*
*
*
.1
*
*
*
*
*
.3
.1
.1
*
*
*
.1
*
.3
*
1
2
.1
3
4
5
*
♦
*
*
*
6
7
8
9
.1
*
*
.1
.1
.1
.1
.1
.3
.3
.3 10
10 FEBRUARY 1976
COMMERCIAL B ANKING SUBSECTORS
COMMERCIAL BANKING SUBSECTORS
17
SUBSECTOR STATEMENTS FOR COMPONENT GROUPS IN COMMERCIAL BANKING
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1969
1970
1971
1972
1973
1974
1975
S E ASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
C O MMERCIAL BANKS
1
2
3.8
1.9
13.6
3
4
9
*
7
8
-fO.l
-9.8
-.3
*
5.3
10
11
12
1 1 .6
1 2 .T
.2
-.1
2.8
2.3
38.0
34.7
33.3
10*5
7.0
3.5
56.6
51.1
50.3
7.0
3.2
3.8
13.6
10.5
23.9
.8
12 .8
1 .6
1.3
5.6
4.2
17.5
4.7
12.3
.5
- 1 .1
9.1
2.9
4.2
19.4
6.7
11.9
.4
.3
2 .0
1.8
.2
13
3.0
2.3
14
15
16
17
18
19
20
21
3.4
2 .1
.1
.7
2.0
1.4
4.4
4.5
4.5
3.0
4.9
3.8
4.6
4.6
77.3
73.5
• 8 .6
77.9
•0.9
- 1. 3
-8.8
7.5
Tl.5
35.9
M .2
36.9
28.7
27.4
30.2
28.6
1.4
15.6
- 2.9
- 10 .6
23.9
3.1
50.2
54.7
50.5
90.5
48.2
2.4
1.7
1 1 .8
68.8
6 .0
2 .1
3.9
1 .2
— 2 .4
3.6
14.9
3.5
4.8
6.5
7.7
-14.2
-10.3
-3.9
8.8
-2.7
2.2
8.8
- 6.6
-3.7
-6.9
3.2
19
INTERBANK CLAIMS
VAULT CASH ♦ MEM. BK. RES. 20
21
DEP. AT FGN. BANKING AGS.
1 1 .2
MISCELLANEOUS ASSETS
46.7
33.7
- 1 1 .8
3.4
1.4
-.8
-3.0
-2.4
4.0
4.1
1.5
5.8
3.5
2.3
2.9
-.3
3.1
- 1 .0
2.5
2 .2
8
- 2.8
3.3
-6.4
.3
-14.5
-9.0
4.7
6
7
- 1 1 .8
-3.4
-12.4
4.0
4.2
38.7
1 .1
- .2
3
4
5
-36.2
-5.9
-33.1
56.5
18.4
5.2
2.8
4 8.0 N ET ACQ. OF FINANCIAL ASSETS
TOTAL BANK CREDIT
40.5
CREDIT M A RKET INSTRUMENTS
32.3
U.S. GOVT. SECURITIES
8.8
9.4
DIRECT
AGENCY ISSUES
.7
37.6
10 .6
37.3
37.5
37.0
•5
1
2
1 .6
6.4
5.6
10 .1
33.8
22.8
3.6 CURRENT SURPLUS
4.7 PLANT ♦ EQUIPMENT
-.3
8.7
6 .2
1 .2
2 .1
1.8
1 .1
27.7
20.8
4.0
4.6
2 .1
25.7
5.6
.4
1 1 .0
4.4
2 .6
- .2
1 .6
.2
1.0
25.3
7.1
1.4
9.0
7.8
.8
.8
-.1
6.2
3.5
2.7
- .6
-1.7
1.0
- 2 .6
2.5
2.8
7.0
2.5
12.3
-3.5
8.7
.6
1 .6
3.3
3.2
8 .2
9
OTHER SECURITIES ♦ MTGS.
S. ♦ L. OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
10
11
12
OTHER CR. EXCL. SECURITY
CONSUMER CREDIT
BANK LOANS N.E.C.
OP E N-MARKET PAPER
SECURITY CREDIT
14
15
16
17
18
13
22
1 .6
1.3
1.5
2.3
4.9
12.8
9.8
16.3
9.7
2.2
23
24
25
26
11.5
4.6
*
4.6
36.3
4.6
2.9
1.7
54.9
13.0
75.3
69.0
35.7
2.8
6 .1
-5.1
7.9
- 1 .6
7.8
12.5
-18.3
4.0
- 22.2
4 9.3
32.0
- 8 .2
40.3
33.4
15.8
5.3
10.7
.7
19.4
85.7
13.0
- 1.0
14.0
47.8 NET INCREASE IN LIABILITIES
-5.1
DEMAND DEPOSITS, NET
U.S. G O V ERNMENT
-7.5
OTHER
2.4
23
24
25
26
27
28
29
-9.7
-12.5
2.9
37.6
15.2
22.4
41.1
8.7
32.4
42.8
9.8
33.0
26.7
-9.9
36.6
24.7
-20.3
45.1
23.5
-25.4
48.9
1 6 .1
30.3
56.8
28.5
28.3
42.5
-3.6
46.1
TIME DEPOSITS
LARGE NEGOTIABLE CD'S
OTHER
27
28
29
30
31
32
33
1 .2
- .2
1 .6
.1
' 1.0
1.0
.1
2.6
CORPORATE EQUITIES
CORPORATE BONDS
SECURITY R . P . •S
PROFIT TAXES PAYABLE
30
31
32
33
INTERBANK LIABILITIES
F.R. FLOAT
BORROWING AT F.R. BANKS
DEM. DEP. OF FGN. BK. AGS.
TIME DEP. OF FGN. BK. AGS.
LOANS FROM AFFILIATES
LOANS FROM FGN. BK. AGS.
34
35
36
37
38
39
40
MISCELLANEOUS LIABILITIES
LIAB. TO FOREIGN BRANCHES
OTHER
41
42
43
*
34
35
36
37
38
39
40
1 .6
41
42
43
13.5
44
*
♦
2 .2
2 0 .1
50.3
20.0
.1
.1
.6
.9
1 .2
1 .1
-3.3
.3
1 .1
1.7
*
-.2
.1
.1
-.3
2.5
.8
1 .6
.1
.5
-.4
1.9
2 .1
1.9
-.9
-.7
- 1 .1
- 1 .0
4.3
- 1.0
1.7
*
3.3
.2
-3.1
1 .6
-6.3
.9
1.5
1 .2
- .1
1 .1
-2.4
- 2.0
-8.3
6.3
-7.5
- .2
1.9
1.7
.3
-7.4
.2
9.4
7.1
2.3
-l.l
- 1.2
-.9
- 1.0
-3.2
-4.8
1.5
8 .1
15.7
.4
15.3
9.3
.4
.5
7.7
7.0
- .2
-.4
- 1 .2
-l.l
- 1.5
-1.4
2 .2
-.7
7.2
.7
-12.4
3.1
-5.6
-7.2
1.5
6.8
- 1 .6
-11.7
6.7
.1
- .2
-.2
5.1
-.5
-3.8
.2
2 .6
.1
-.4
1.4
1.0
.1
- 1.0
-.5
*
3.7
.1
- 1 .2
.3
-.4
1 .0
.2
1.0
.2
8.0
-.2
-3.8
6.5
-.3
1.3
*
.3
.6
.1
9.6
6.5
-2.3
1.5
6.7
.2
1 .2
.1
.1
.1
.8
-
1.0
10 .6
-.1
-2.7
*
-
.1
.1
.1
- .6
.2
.1
-1.3 DISCREPANCY
22
44
DOMESTIC AFFILIATES OF C O M MERCIAL BANKS
1
2
4.5
3.9
4
5
4-5
4.2
.3
3
6
.6
-.9
- 1 .0
.1
.2
- .1
.3
- .6
-.2
-.4
1.3
1.7
-.4
-.9
-1.9
.2
-.6
1.3
-.4
1 .0
.6
.7
-1.3
- 1 .0
2.2
.7
.9
-.5
-.5
-.9
-.9
“
*
*
-.7
-.7
.7
2.4
-1.7
-.5
-.9
2.4
-3.3
*
-.7
.7
-.7
.3
-.9
1.7
-1.3
-6.4
.5
-1.5
- .1
.8
-.2
.2
-.7
-.5 NET ACQ. OF FINANCIAL ASSETS
-.5
BANK LOANS N.E.C.
LOANS TO AFFILIATE BANKS
-.5 NET INCREASE IN LIABILITIES
-1.3
COMMERCIAL PAPER ISSUES
.8
MISCELLANEOUS LIABILITIES
EDGE ACT CORPORATIONS AND AGENCIES OF FOREIGN BANKS
1
2
3
4
5
6
7
8
9
2.7
1.3
*
*
1.3
*
-
*
2 .6
1 .2
.1
- .2
- .2
.5
*
.1
-
-
1.3
*
1 .2
1.7
.3
*
.3
.1
.3
3.5
-.4
14
15
16
17
18
2.7
.3
6 .6
7.7
1 .2
19
1.9
.4
- .6
2.0
1 .2
.8
.2
.2
.7
-1.3
1 .6
.2
.1
*
.3
- .1
1 .6
-3.6
-.7
.1
-.1
-.4
-
.4
5.0
.1
.1
- 1 .2
13
.2
.1
.2
1 1 .6
.1
*
*
3.7
"
1 .2
.1
.1
.1
9.9
3.9
1 .1
10
11
12
20
21
.8
7.7
2.7
- .1
.2
.3
.2
*
1 .2
- 3.7
-.5
2.5
.8
.4
.1
2.6
.1
1.4
2.3
*
*
4.9
“
*
*
- .6
“
-
-
*
4.3
- .2
.1
- .2
2.5
-16.9
-5.1
- 1.0
*
*
-4.1
- 1.0
-12.4
- .2
*
_
_
-2.7
*
.2
.1
- .1
_
.1
6.7
-11.7
.4
6.5
3.1
1.4
-2.4
-.3
.1
-.6
.1
- .1
3.7
- 2.2
-3.8
.8
.2
1 1 .6
-3.6
*
-16.9
-5.8
8.0
.6
.2
.6
2.3
5.1
3.1
2.9
-2.7
- 1.0
.8
- 6 .6
- 2.2
.5
-3.9
.4
2.3
.7
1.5
4.1
2.4
1.7
-3.0
-1.5
- 1 .6
-3.3
-5.4
3.8
- .2
2 .1
- 2 .2
.2
.1
-.5
-.3
_
-.2
9.9
-.4
1.3
7.4 NET ACQ. OF FINANCIAL ASSETS
CREDIT MARKET INSTRUMENTS
3.1
.7
U.S. GOVERNMENT SECURITIES
*
STATE ♦ LOCAL OBLIGATIONS
CORPORATE BONDS
.1
2.4
BANK LOANS N.E.C.
O P E N - MARKET PAPER
-
1.7
- 6.4
- 2.6
.5
-3.5
-4.6
6.0
.1
C ORPORATE EQUITIES
SECURITY CREDIT
DEM. DEPOSITS AT COML. BANKS
TIME DEPOSITS AT COML. BANKS
LOANS TO BANKS
M I SCELLANEOUS ASSETS
7.4 NET INCREASE IN LIABILITIES
.3
D EMAND DEP. IN MONEY STOCK
.6
TIME DEPOSITS
DEPOSITS OF BANKS
3.2
LOANS FROM BANKS
2.5
.7
-.3
1.0
MISCELLANEOUS LIABILITIES
DUE TO FOREIGN AFFILIATES
OTHER
BANKS IN U.S. POSSESSIONS
1
2
1 .1
.5
.5
.5
.2
.2
.1
.1
.1
3
4
5
.3
*
*
*
.3
.2
.2
.1
.1
.1
*
7
*
*
*
*
6
8
.1
9
.9
*
.3
10
1 .1
.5
*
*
.1
*
*
*
*
.5
.5
*
.5
.3
.1
- .2
.1
.5
*
.4
.1
.1
- .1
.1
- .2
.2
.2
.1
.6
.1
.1
.1
.1
.1
.1
.1
.1
.4
*
.1
.2
- .2
- .2
-.5
- .2
*
-.3
.1 NET ACQ. OF FINANCIAL ASSETS
-.2
DEMAND D E P OSITS ♦ CURRENCY
.2
CREDIT M ARKET INSTRUMENTS
.4
U.S. GOV E R N M E N T SECURITIES
.1
STATE ♦ LOCAL OBLIGATIONS
*
CORPORATE BONDS
-.1
HOME MORTGAGES
-.3
COMMERCIAL MORTGAGES
.1
MISCELLANEOUS ASSETS
.5
.1
.1
.1
.2
.1
.1 NET INCREASE IN DEPOSIT LIAB.
*
*
*
IV/75 B ASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
*
*
*
*
.4
*
*
*
.4
.3
.1
-
.1
1
2
3
4
5
6
10 FEBRUARY 1976
NONBANK FINANCE SUMMARY
18
N ONBANK FINANCE SUMMARY
SECTOR STATEMENTS OF SAVING AND INVESTMENT
U N ADJUSTED NET FLOWS
UNADJUSTED NET FLOWS
1975 UNADJUSTED NET FLOWS
I
II
III
(* MILL.)
IV
1962
1963
YEAR TOTALS (S BILL.)
1966
1964
1965
1967
1968
1.7
.5
1 .2
.6
.6
1 .1
1
2
35.6
-.3
*
-.4
43.2
.7
52 .4
.9
*
*
3
4
5
.2
- .2
6
10.7
36.6
- .1
.1
9.0
27.6
-2.3
7
34.2
5.9
27.9
-.5
7.8
11.9
7.8
4.3
2.9
.7
9.2
5.2
6.7
2.7
3.2
PRIVATE NONBANK FINANCIAL INSTITUTIONS - TOTAL
1.144
1.199
1.333
1.503
1.366
1.119
1.425
1.086
1.8
3 NET ACO. OF FINANCIAL ASSETS
4
DEMAND DEPOSITS ♦ CURRENCY
5
TIME DEPOSITS (MSB)
6
S+L SHARES (CREDIT UNION)
25.325
-809
48
21.538
-454
31.678
1.229
0
0
862
30.396
-409
46
42
-743
226
7
B
9
1 .439
22.375
8.899
585
7.099
2.310
1.798
-1.242
2.917
2.362
26.403
7.615
1.058
7.146
6.546
2.623
818
597
-63
22.068
5.988
1.566
2.349
6.732
2.461
2 .00!
971
544
75
791
1.296
77
579
24.749
18.438
b.936
1 .363
-6.327
247
.
31
87
-2.588
-4.104
I C URRENT SURPLUS
2 PHYSICAL INVESTMENT
13
14
15
CORPORATE EQUITIES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
S. ♦ L. OBLIGATIONS
CORPORATE + FOREIGN BONDS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
OTHER LOANS
16
17
18
SECURITY CREDIT
TRADE CREDIT
MISCELLANEOUS ASSETS
10
11
12
19 NET INCREASE IN LIABILITIES
20
TIME ♦ SAVINGS ACCOUNTS
21
INSURANCE «- PENSION RESERVES
22
CORPORATE EQUITY ISSUES (1)
23
24
25
26
27
28
29
30
CREDIT MARKET INSTRUMENTS
CORPORATE bONDS
MORTGAGE LOANS IN PROCESS
OTHER MORTGAGES
BANK LOANS N.E.C.
OTHER LOANS
31
32
33
SECURITY CREDIT
PROFIT TAXES PAYABLE
MISCELLANEOUS LIABILITIES
OPEN-MARKET
PAPER
FHL 8 LOANS
34 DISCREPANCY
1.3
.5
.9
.5
1 .1
35.5
.9
*
*
39.6
39.8
.1
42.5
.4
.1
.2
.1
.1
4.572
24.305
4.261
1.109
8.343
5.610
2.380
2.006
596
4.3
29.0
3.9
32.7
4.1
34.2
416
78
236
31.666
18.471
10.036
-817
20.589
10.478
-3.640
663
199
1.171
116
83
-906
455
-1.361
-497
2 95
2 .541
-631
-46*
.3
2.0
.6
*
.1
1.8
.4
*
- .1
6 .0
1 .2
8
2.0 9
1.2 10
9.9 11
8.6 12
5.9
2.5
6.5
14.0
7.3
3.0
1.2
1.8
*
6.7
12.9
7.8
3.0
1.9
261
57
1.028
- .2
.2
1 .1
1.5
-.5
.4
*
.1
1 .2
.2
.2
1.5
1.5
.2
2.2
31.178
12.400
10.289
-148
33.3
13.1
39.4
15.9
14.2
1.7
2.2
36.2
6.9
18.1
3.8
45.1
17.0
18.2
3.1
53.3 19
12.7 20
18.8 21
1.9
41.6
13.1
15.6
3.4
677
196
682
83
-71
-213
-892
67*»
2 .106
3.9
.3
.4
5.9
1.4
.5
4.4
6.0
3-2
-.5
2 .1
1.9
.8
-.3
*
-.9
1.0
1.0
- 1 .1
4.5
3.5
.9
7.1 23
.8 24
.2 25
.2 26
2.4 27
3.5 28
2.6 29
.9 30
1.061
-340
2.592
-3.407
195
3.497
5.430
28
1 .073
1.10 0
-702
-161
8 .668
481
5.9
1 1 .1
1 1 .6
5 58
57
65
-498
1 .924
1.521
403
- .1
38.6
15.2
12 .8
11.9
8.0
6.7
1.5
7.2 13
3.8 14
3.8 15
3.2
.3
2.8 16
.6
2 .1
6.6 22
-
-
-
1 .1
2.0
1.2
.8
1.7
2-3
2.0
2.3
1.9
1.3
1.5
.5
.7
1.0
.1
1.8
.8
.1
2 .1
*
.2
2.4
3.0
*
3.4
4.2
3.5 31
.2 32
4.4 33
-.7
-.2
*
-.2
1.8
2.5
.3 34
-
.5
1-0
.4
-
.3 17
1.3 18
-
1.2
.4
.8
- 2.0
-.5
2.0
-2.5
3.2
-.1
SAVINGS AND LOAN ASSOCIATIONS
1 CURRENT SURPLUS
2 NET ACC. OF FINANCIAL ASSETS
3
4
5
6
7
8
Q
DEMAND DEPOSITS + CURRENCY
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
MISCELLANEOUS ASSETS
10 NET INCREASE IN LIABILITIES
SAVINGS SHARES
11
CREDIT MARKET INSTRUMtNTS
12
13
14
15
16
17
MORTGAGE LOANS IN PROCESS
BANK LOANS N.E.C.
FHLB ADVANCES
PROFIT TAXES PAYABLE
MISCELLANEOUS LIABILITIES
18 DISCREPANCY
449
455
461
468
.9
.7
.9
1. 0
1.0
.9
1 .1
1
9.432
-89
8.384
5.325
2.535
601
-77
1.137
13.047
228
12.472
3.547
7.191
1.703
31
347
11.128
-38
11.578
2.252
7.490
1.774
62
-412
9.278
500
8.118
3
6.552
1.552
11.5
14.0
11 .8
10 .2
2
.6
.1
13.3
9.7
-.3
9.2
9.7
-.4
10.3
.4
7.4
2.6
9.3
2.9
4.6
-.5
4.2
.4
2.9
.9
11
*
660
.6
.1
.5
9.214
13.058
-4.4 60
31
-851
-3.640
44
572
12.708
12.961
-313
1.171
-123
-1.361
10.706
8.223
1.901
682
540
10.7
9.4
13.3
58
38
544
8.871
8.839
827
57
367
403
35
-830
231
116
39
61
679
2
1.2
.4
*
*
♦
11.0
.6
8 .1
2.3
9.6
.5
7.1
1.9
.1
.8
.1
.6
*
.1
.9
.9
9.4
8.5
4.0
3.6
9.3
1 1 .1
1 1 .1
10.6
10.6
1.9
.5
-3
-.3
.8
.1
-1.7
*
*
.2
-.9
1.0
- .1
.7
1.0
.1
.1
1.6
6.0
1.5
10.2
.7
7.2
2 .1
.1
-.1
3
4
5
6
7
8
9
8.9 10
7.4 11
1 . 1 12
.2 13
.1 14
1.3
.5
*
.9
*
.2
.1
.4
-2.5
*
.4
.9 15
.1
.2
*
.1
.1
*
.3
.2
.4
.5
.3 18
.fc
*
*
16
.4 17
MUTUAL SAVINGS BANKS
1 CURRENT SURPLUS
2 NET ACC. OF FINANCIAL ASSETS
3
4
DEMAND DEPOSITS
TIME DEPOSITS
5
CORPORATE EQUITIES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
STATE + LOCAL O BLIGATIONS
CORPORATE BONDS
6
7
8
9
10
11
12
13
14
15
CURRENCY
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
COMMERCIAL PAPER
SECURITY R P •S
MISCELLANEOUS ASSETS
16 SAVINGS DEPOSITS
17 MISCELLANEOUS LIABILITIES
99
102
103
107
.1
-2
.2
.3
.2
.1
.2
1
3.495
-114
48
3.706
-59
46
1.892
-305
1.939
117
4.0
*
*
2.8
5.4
♦
*
4.6
2
0
3.6
*
*
4.5
*
0
3.3
*
*
.1
3
4
61
3.304
7 57
165
b2
3.358
1.430
145
1.388
6
*4
1.704
706
80
354
.3
4.1
5
1.975
745
255
347
373
2 53
-123
-34
95
74
1.2 2 1
147
90
297
-124
751
196
-230
279
377
2 56
16
204
-2 25
216
3.584
-177
3.708
-117
1.567
185
2.317
-474
11
-13
-37
11
18 DISCREPANCY
379
260
-25
11
.1
*
*
.1
.1
.2
*
3.3
- .2
-.1
4.3
*
*
3.7
-.3
-.5
-.3
2 .1
1.0
2.6
*
.1
3.1
*
- .2
-.1
.1
2.6
.2
5.0
-.3
*
-.2
- .1
- .1
-.1
.3
2 .1
2.7
1.7
2.7
1.4
.1
- .1
.1
.1
.1
1.6
1 .1
.1
.1
1.8
1.3
-
-
*
1.4
.1
*
*
- .2
*
1.3
6
7
8
9
1.4 10
1.4 11
.1 12
* 13
-
-
-
-
.1
.2
.1
.1
.1
.1
3.1
*
3.3
4.2
*
3.6
2.6
.1
.1
*
5.1
♦
*
*
*
*
-.1
1 .1
.1
.1
1 .0
.8
*
-.4
1 .2
.1
.2
1 .1
*
1
2
- .2
3
4
5
- .1
.1
.1 14
.3 15
4.2 16
.1 17
18
CREDIT UNIONS
1 NET ACC. OF FINANCIAL ASSETS
DEMAND DEPOSITS ♦ CURRENCY
2
3
4
5
6
7
SAVINGS ♦ LOAN SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
HOME MORTGAGES
CONSUMER CREDIT
8 CREDIT UNION SHARES
1.796
-26
8 62
960
841
8
1 11
1.796
688
-6
.7
*
*
.8
.6
1.324
1 .244
4
226
1.014
156
14
844
.6
.7
*
*
.7
.8
*
*
1.0
688
1.244
.7
.8
1 .1
1.0
1.802
6
42
1.754
785
-743
1 .437
10
101
12
959
1.802
(1) INCLUDES INVESTMENT COMPANY ShARES.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
*
*
♦
.1
.9
*
*
- .1
1.0
1 .1
.1
.1
.9
*
.9
*
.7
1.3
*
*
1.3
.8
1 .2
1 .1
.1
6
7
8
10 FEBRUARY 1976
NONBANK FINANCE SUMMARY
N ONBANK FINANCE SUMMARY
19
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1969
1970
1971
1972
1973
1974
1975
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
PRIVATE NONBANK FINANCIAL INSTITUTIONS - TOTAL
1
2
.1
1 .2
2 .1
1 .2
4.8
1 .8
2 .1
2 .0
2 .6
4.7
5.3
4.9
5.3
4.8
4.7
6.0
4.6
4.5
3
4
5
4 6.4
-.4
55.2
8 4.9
107.5
87.6
78.0
2.7
100.9
-.4
.1
94.5
-.4
-
6
.2
110 .8
- 1 .2
.2
117.4
-1.9
- .1
-.1
7
12 .2
9
8
10
11
12
5.0
5.3
1 .0
.2
.1
1 .1
.2
.1
1 .6
.2
.2
2.0
•1
37.1
- 2.2
11.3
39.8
3.8
19.3
60.1
13.3
72.2
.9
3.6
7.4
1 .8
1 1 .6
15.9
82.8
7.1
5.1
13.2
30.7
16.8
6.4
3.5
1 .0
2.6
*
.4
.9
1 .1
22.6
8.3
95.2
26.8
4.3
24.9
9.5
101.9
32.8
4.2
28.7
•2
90.0
26.0
26.5
15.4
9.0
5.9
13.5
2 1 .2
22.0
4.8
8.4
9.3
3.6
5.1
11.3
95.1
29.6
2.4
33.1
13.5
9.5
1.9
5.1
1 .1
2.6
24.1
9.4
5.7
7.6
- 1 .8
2 .2
13
14
15
7.6
4.8
9.9
10 .1
1 .8
3.1
16
17
18
-3.5
.4
- 1.3
.5
3.6
2.5
.3
1.4
3.9
1.7
-4.6
.7
3.9
19
49.3
7.9
19.7
6.3
55.1
17.0
82.4
40.6
24.8
4.6
2.8
103.7
46.1
27.1
1.4
82.3
28.1
29.5
-.4
4.7
3.0
6 .2
15.9
5.8
20
21
22
.8
23
24
25
26
27
28
29
30
13.0
1.7
*
31
32
33
-3.0
34
1.9
.2
2 .1
7.6
2 1 .8
.6
.1
- .6
4.2
2.0
.1
- .1
.4
6 .1
4.4
14.0
17.8
14.6
3.3
3.5
8 .6
.2
1 .1
10 .8
66.9
5.7
10.8
2.5
.3
10.5
6 .2
1 1 .1
3.1
2.6
2.0
5.2
.3
1.3
1.7
.3
3.6
75.3
36.1
.7
108.2
59.8
37.9
.9
111.7
67.4
35.0
4.8
118.4
72.4
41.1
- 2 .6
93.3
50.7
34.4
2 1.0
1 1 .8
-2.9
1.3
-1.5
1 .2
.5
5.9
2.5
2.5
*
-5.0
1.5
2.3
.5
-3.8
-5.5
5.4
2.3
-1.5
.3
8.4
11.5
4.3
7.2
-13.9
1.4
.9
.3
-6.4
- 10 .2
.3
-10.5
-5.7
1.2
- .1
.1
- .2
-12.7
1 .2
1 .2
.6
2 2 .1
.2
1.9
.4
-3.1
-3.3
.3
2 .6
.8
3.2
.3
1.5
1.4
-1.5
.2
1 .2
1.3
-2.7
1 .0
.2
1 .1
- .1
4.1
-3.4
.1
4.1
7.0
7.4
-2.5
*
7.1
9.2
5.8
.2
8 .8
2.6
.2
5.4
9.7
9.1
8.3
.2
12 .6
.8
.4
-.9
- 2.0
- .6
-.4
1.4
-. 4
-.9
8.9
4.9
4.0
.1
4.6
7.2
.5
6.7
.6
-3.9
.2
.2
.1
4.3 C URRENT SURPLUS
4.3 P HYSICAL INVESTMENT
113.0 N E T ACO. OF FINANCIAL ASSETS
1.8
D EMA N D D E P O S I T S ♦ CURRENCY
TINE DEPOSITS CMSB)
•4
S*l SHARES (CREDIT UNION)
12.3
93.7
18.6
4.5
26.8
25.2
7.8
5.7
5.0
1
2
3
4
5
*
C O R PORATE EQUITIES
C REDIT M A R K E T INSTRUMENTS
U.S. GOV E R N M E N T SECURITIES
S. ♦ L. OBLIGATIONS
CORPORATE ♦ FOREIGN BONDS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
OTHER LOANS
13
14
15
SECURITY CREDIT
TRADE CREDIT
MISCELLANEOUS ASSETS
16
17
18
109.4 NET INCREASE IN LIABILITIES
48.7
TIME ♦ SAVINGS ACCOUNTS
41.2
INSURANCE ♦ PENSION RESERVES
- 1 .2
CORPORATE EQUITY ISSUES (1)
20
21
22
1 .0
.2
3.7
2.0
1 .1
1.3
.3
-3.4
2 .6
1.9
.7
9.7
.2
8.9
7
8
9
10
11
12
19
CREDIT MARKET INSTRUMENTS
C ORPORATE BONDS
MORTGAGE LOANS IN PROCESS
OTHER MORTGAGES
BANK LOANS N.E.C.
OTHER LOANS
OPEN-MARKET PAPER
FHLB LOANS
23
24
25
26
27
28
29
30
SECURITY CREDIT
PROFIT TAXES PAYABLE
MISCELLANEOUS LIABILITIES
31
32
33
-1.7 DISCREPANCY
34
SAVINGS AND LOAN ASSOCIATIONS
1
1.3
1 .2
1.5
1 .8
2 .2
1.9
1.8
1 .8
1.8
1 .8
2
9.3
14.1
.3
29.8
.5
29.2
5.2
17.3
37.1
29.2
23.7
42.9
48.1
36.4
4.3
24.8
7.2
27.1
*
37.0
-.7
34.4
17.0
13.7
3.9
45.5
.9
43.9
10.5
26.7
3
4
5
6
- .2
9.9
.3
7.7
1 1 .6
1 .2
7.2
3.0
.3
.6
.6
22.0
8
1.8
.2
9
-.4
2 .2
6 .6
.1
.1
10
11
12
13.3
10.9
29.0
27.8
35.5
32.6
13
14
15
16
17
8.4
3.9
4.1
*
.1
4.0
*
.4
- .1
2.0
2.0
1 .2
.7
-2. 7
.6
.1
1 .2
.7
*
*
.9
-1.5
.3
7.2
*
.9
18
.4
.5
.6
.1
.3
7
1.8
.6
-.1
1.3
*
.2
.1
4.9
.2
1.5
27.4
20.5
6.0
.6
21.0
3.3
13.8
3.8
.6
40.6
1 1 .1
.2
2 .1
23.8
5.6
*
1.7
22.3
15.9
6.3
-1.5
41.5
43.1
- 2.0
1.9
1 .1
-.1
6.7
-3.9
.1
.1
-.2
.8
46.3
15.3
25.2
5.8
*
6 .6
.1
3.4
1.0
36.2
46.4
- 1 1 .2
.9
-1.7
-10.5
46.4
51.2
-4.7
2.3
-1.3
-5.7
.1
- .2
- .2
.1
1 .1
.2
.8
*
.3
.1
1.0
.5
.4
1.0
.7
44.5
38.0
5.3
3.2
2.4
1.9 CURR E N T SURPLUS
40.9 NET ACQ. OF FINANCIAL ASSETS
1.4
DEMAND DEPOS I T S ♦ CURRENCY
37.6
CREDIT MARK E T INSTRUMENTS
1.7
U.S. GOV E R N M E N T SECURITIES
29.5
HOME M ORTGAGES
6.3
OTHER MORTGAGES
CONSUMER CREDIT
.1
1.9
MISCELLANEOUS ASSETS
38.9 NET INCREASE IN LIABILITIES
36.8
SAVINGS SHARES
2.4
C R EDIT M A R K E T INSTRUMENTS
1.3
MORTGAGE LOANS IN PROCESS
.4
BANK LOANS N.E.C.
.7
FHLB ADVANCES
PROFIT
TAXES PAYABLE
.1
-.5
MISCELLANEOUS LIABILITIES
- . 2 DISCREPANCY
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
MUTUAL SAVINGS BANKS
1
.3
.3
.4
.4
.6
.5
.4
.4
.4
.4
2
3.1
*
4.7
10.4
*
1 1 .0
.1
.2
6.0
.2
.1
3.8
*
11.0
14.1
-.4
13.6
*
.2
.1
.2
9.3
-.7
.6
.4
5.0
-.5
*
3
4
5
6
7
8
9
10
11
12
13
14
15
- .1
.2
2.9
-.5
*
.3
1«4
1.3
.1
.1
.2
*
.1
.2
.2
.3
3.8
.3
*
.5
9.6
.9
.2
9.8
1.4
.5
1 .2
3.9
2 .1
- 1 .1
.9
.9
1.3
2.7
3.0
2.6
.1
.2
.1
.3
.3
.1
.2
.2
.2
2.6
-.2
.1
.4
3.1
.2
- .1
.7
.3
16
17
2 .6
.2
4.4
9.9
.1
10 .2
.2
4.7
.1
18
*
.1
.1
- .2
- .1
.6
- .2
.2
*
.2
.2
.2
3.1
10.3
3.6
12.3
.1
.6
2 .1
.3
13.3
5.6
1 .0
3.3
.7
4.9
5.6
1.4
.7
1.5
1.3
.9
.6
1.5
l.o
1.5
.2
.1
1 .2
- .1
*
-.1
.4
.6
8.8
3.9
1.0
.2
6.9
2.9
.3
1.4
1.5
1.0
.1
.8
-.1
-.9
.4
1 .1
.6
.4
-.5
3.0
.2
.8
.8
*
-.9
.5
3.1
.3
11 .2
-.6
14.3
- 1 .2
14.6
-1.3
8.9
.1
*
- .1
-.4
.3
6 .6
- .1
6.7
*
3.8
*
.9
5.8
3.4
*
2.4
1 .1
- .8
5.6
3.1
*
2.4
6 .6
6.7
.3
-.3
.4 CURRENT SURPLUS
7.2 NE T ACQ. OF FINANCIAL ASSETS
-.5
DEMAND D E P O S I T S ♦ CURRENCY
TIME DEPOSITS
-
.2
1.0
-.5
CORPORATE EQUITIES
CREDIT MARK E T INSTRUMENTS
U.S. G O V ERNMENT SECURITIES
STATE ♦ LOCAL OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
COMMERCIAL PAPER
SECURITY RP'S
MISCELLANEOUS ASSETS
6.9 SAVINGS DEPOSITS
* M I S C E LLANEOUS LIABILITIES
. 1 DISCREPANCY
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
CREDIT UNIONS
1
2
1.4
*
3
4
5
-.1
1 .6
- .2
7
*
1.7
8
1.4
6
1.7
2.9
3.4
.2
.1
.1
.2
1.5
.4
.1
.1
2 .6
.8
.1
1.0
1.7
2.9
*
*
2.9
3.0
*
.4
2.7
.2
.2
1 .8
.8
.2
2 .1
2.7
*
2.5
5.5
*
.4
5.2
1.9
*
3.2
2.9
3.4
2.9
3.0
5.5
*
3.1
4.6
.4
*
4.1
3
4
5
3.8
5.1 CREDIT UNION SHARES
8
(1) INCLUDES INVESTMENT COMPANY SHARES.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
1
2
5.1 NET ACQ. OF FINANCIAL ASSETS
*
DEMAND DEP O S I T S ♦ CURRENCY
.4
SAVINGS ♦ LOAN SHARES
CREDIT MARK E T INSTRUMENTS
4.7
.6
U.S. GOVERN M E N T SECURITIES
HOME MORTGAGES
.1
4.0
CONSUMER CREDIT
6
7
10 FEBRUARY 1976
INSURANCE ♦ PENSION FUNDS
INSURANCE ♦ PENSION FUNDS
SECTOR S TATEMENTS OF SAVING AND INVESTMENT
U N A DJUSTED NET FLOWS
U N A DJUSTED NET FLOWS
1975 UNADJUSTED NET FLOWS
I
II
III
($ MILL.)
IV
YEAR TOTALS ($ BILL.)
1964
1965
1966
1963
1962
LIFE INSURANCE COMPANIES
1 CURRENT SURPLUS
2 PHYSICAL INVESTMENT
3 NET ACQ. OF FINANCIAL ASSETS
4
DEMAND DEPOSITS ♦ CURRENCY
CORPORATE ECU1TIES
CREDIT MARKET INSTRUMENTS
U.S. G O VERNMENT SECURITIES
STATE ♦ LOCAL OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
OPEN-MARKET PAPER
POLICY LOANS
M ISCELLANEOUS ASSETS
11
12
13
14
15 NET INCREASE IN LIABILITIES
16
LIFE INSURANCE REStRVES
17
PENSION FUND RESERVES
18
PROFIT TAXES PAYABLE
19
MISCELLANEOUS LIABILITIES
20 DISCREPANCY
650
594
667
609
685
504
702
580
.9
.3
.9
.5
.9
.5
1.0
1 .1
.4
.5
4.662
-415
4.026
-91
5.326
-7
4.554
514
6.8
.1
7.0
*
7.8
*
8.7
*
8 .2
489
4.353
630
3.251
450
3.352
1.028
103
2.171
-309
946
-889
302
238
.2
.5
6.9
-.3
.7
7.5
-.4
-.3
.3
7.7
-.4
-.4
2.4
.4
2.345
-303
1.2 32
570
467
235
75
1.761
-346
1.194
109
346
236
432
4.664
176
360
1.830
-413
823
1.515
373
237
4.467
1.774
1 .592
155
946
4.431
1.728
1.485
-233
1.451
4.845
1.896
1 .326
55
1 .568
4.281
6 .1
1.888
3.6
1.4
-139
463
-300
-151
22
20
112
1.283
-67
1.177
6.0
.1
.1
2.5
.8
1.9
.2
6.4
-.4
- .2
2.8
- .1
.9
2.7
*
.4
.4
1 .2
2.8
1 .1
3.4
3.8
-.1
.1
2.3
.5
.3
.5
.5
7.2
4.3
7.9
4.7
2.0
.1
.8
2 .1
.1
1.0
6.5
4.1
1.7
*
.7
- .2
- .1
.5
.3
*
1 .1
.6
1 .1
8.7
*
9.8
.7
1.0
7.4
-.3
-.1
3.8
— .5
3.4
.6
4.0
.1
.1
1.4
.9
.3
.2
8.0
1
2
.1
3
4
1.4
7.7
6
- .1
.2
7
5
8
3.9
9
-.7 10
3.2 11
♦ 12
1 .2 13
.6 14
1 .2
2 .1
.1
1.2
2.6
-.1
1.6
9.2 15
4.6 16
2.9 17
.2 18
1.5 19
- .2
-.3
.3
.9
- . 2 20
*
9.1
5.0
4.6
PRIVATE PENSION FUNDS
1 NET AGO. OF FINANCIAL ASSETS
DEMAND DEPOSITS ♦ CURRENCY
2
3
4
5
6
7
8
CORPORATE EQUITIES
CREDIT MA RK ET
INSTRUMENTS
U.S. GOVERNMENT SECURITIES
CORPORATE PONDS
HOME MORTGAGES
MISCELLANEOUS ASSETS
3.100
-520
2.650
-460
3.27 6
-18
1.305
2.315
935
1.340
40
1.650
1.249
1.478
1.085
1 .797
1.460
371
-34
412
0
-201
-28
211
3.307
12
1.200
1.814
1.498
386
-70
281
4.2
*
4.5
4.9
.1
5.5
*
7.2
*
6 .6
.1
2.2
1.8
.2
1.2
2.2
2.2
2.2
3.1
3.7
*
1.5
4.6
.7
-.5
2.5
.3
.9
- .6
1 .1
.2
.8
.3
.4
1.5
.3
.2
.1
2.3
.1
1 .6
.5
.3
2 .1
.6
2.6
.6
.4
6.4
.3
1
2
4.7
1 .1
.4
3
4
5
.6
6
*
.4
7
8
STATE ♦ LOCAL GOVERNMENT EMPLOYEE RETIREMENT FUNDS
1 NET ACQ. OF FINANCIAL ASSETS
DEMAND DEPOSITS ♦ CURRENCY
2
3
4
5
6
7
8
9
10
CORPORATE EOUITIES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
DIRECT
AGENCY ISSUES
STATE + LOCAL O BLIGATIONS
CORPORATE BONDS
MORTGAGES
2.470
99
4.173
-267
2.170
3.811
-10 1
-66
506
1.865
4-55
138
317
39
1.400
-29
623
3.817
660
706
-46
191
2.889
77
672
1.599
174
272
-98
439
890
96
804
3.073
395
85
310
443
2.132
103
2.4
*
.2
2 .1
2 .6
*
.2
3.0
*
3.3
*
4.2
4.1
4.8
.1
.1
.1
1
2
.3
.4
2.9
.5
3.7
.7
3.3
.2
.1
.1
.1
1.3
3.4
.4
3
4
5
2.8
.6
-.5
2.3
.4
.4
*
-.5
2 .1
2.2
.3
.4
.5
.4
.3
.1
1.8
.5
*
-.4
-.3
2.3
.7
*
.2
- .1
2.9
.8
- .8
- 1.0
.1
-.1
3.7
.5
-.2
.6
*
6
7
8
2 .6
9
.4 10
OTHER INSURANCE COMPANIES
1 CURRENT SURPLUS
69
79
91
100
.3
*
- .2
.5
.2
.3
1
1.483
89
1.689
1 ..655
1.9
1 .1
1.0
2 .1
2.0
2
51
.1
*
*
*
*
3.1
.1
3
—445
-120
-100
.2
1.711
4-15
498
792
1 .647
1.3
.1
.8
0
.3
♦
.7
*
*
.4
.3
*
.4
1.5
-.4
1.3
77
78
57
.2
.1
.2
.2
.3
1.4
-.7
1.4
.7
*
.3
4
5
415
439
793
.1
.8
.1
.8
1.762
90
606
1.044
.2
.8
.2
1.342
175
-33
1.390
175
15
1 .371
.9
1.9
.1
-.1
.1
2.2
.1
1 .200
1.200
1.200
1 .200
*
.7
1.3
.3
*
1.3
27
1 .1
1 .3
1.8
2 .1
96
-62
-208
-184
-.7
.2
.2
.2
.4
3
DEMAND DEPOSITS ♦ CURRENCY
1.400
77
4
5
CORPORATE EQUITIES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
STATE ♦ LOCAL OBLIGATIONS
CORPORATE BONDS
COMMERCIAL MORTGAGES
TRADE CREDIT
-146
1.394
90
534
766
4
75
2 NET ACQ. OF FINANCIAL ASSETS
6
7
8
9
10
11 NET INCREASE IN LIABILITIES
CORPORATE EQUITY ISSUES
12
13
14
PROFIT TAXES PAYABLE
POLICY PAYABLES
15 DISCREPANCY
1.427
200
22
20
6
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
175
-4
.1
.6
*
*
*
1.9
- .2
1.0
1 .2
6
7
8
*
9
.3 10
2.7 11
.2 12
* 13
2.5 14
- .1
15
10 FEBRUARY 1976
INSURANCE ♦ PENSION FUNOS
INSURANCE ♦ PENSION FUNDS
21
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1969
1970
1971
1972
1973
1974
1975
S EA S O N A L L Y ADJUSTED ANNUAL R ATES
1975 SEAS ADJ ANNUAL RATES
II
III
IV
I
LIFE INSURANCE COMPANIES
1
2
1.0
•8
1.3
1.0
1.6
1.4
2.0
1.0
2.4
1.3
2.6
1.6
2.7
2.3
2.6
2.4
2.7
2.4
2.7
2.0
3
4
9.2
*
9.9
.1
12.7
♦
15.0
.2
16.6
.1
17.0
*
18.6
*
16.5
.2
18.7
-.6
20.7
-.1
18.4 N E T ACQ. OF F INANCIAL ASSETS
.5
DEM A N D OEP O S I T S ♦ CURRENCY
5
6
7
8
9
10
11
12
13
14
1.7
6.7
- .3
*
1.5
-1.1
3.1
.9
2.5
.9
2.0
7.0
.1
.1
1.5
-1.3
3.6
.8
2.2
.8
3.6
8.1
-.2
.1
5.5
-2.1
3.2
.6
1.0
.9
3.5
10.3
.3
*
7.0
-2.1
4.0
.2
.9
1.0
3.6
12.1
.1
*
5.9
-.5
4.3
*
2.2
.9
2.3
13.8
*
.2
5.4
.4
4.7
.4
2.7
.9
2.0
15.6
1.3
.6
8.1
-1.4
4.2
1.3
1.5
.9
2.0
13.4
-.2
.2
8.5
-1.1
5.7
-1.5
1.9
.9
2.5
15.8
.7
.3
7.1
-1.1
5.8
1.7
1.4
.9
1.7
18.1
•6
1.3
8.6
-1.4
3.4
4.1
1.5
.9
1.8
15.1
4.3
.5
8.2
-1.9
2.0
1.0
1.2
1.0
15
16
17
18
19
9.3
4.9
2.9
.1
1.4
10.2
5.1
3.3
.1
1.7
13.3
6.1
5.2
-.1
2.1
15.3
6.5
6.0
*
2.9
15.1
7.2
5.2
«
2.7
15.8
7.2
5.7
*
2.9
18.0
7.3
5.7
-.1
5.1
17.9
7.1
6.4
-.1
4.5
17.7
6.9
5.9
-.1
5.0
19.4
7.6
5.3
-.1
6.6
17.1 NET INCREASE IN LIABILITIES
7.6
LIFE INSURANCE RESERVES
5.1
PENSION FUNO RESERVES
PROFIT TAXES PAYABLE
-.1
4*6
MISCELLANEOUS LIABILITIES
20
.3
.7
.9
1.4
-.3
-.2
-.1
1.6
-.8
-.6
2.8 CURRENT SURPLUS
2.3 P HYSICAL INVESTMENT
CORPORATE EQUITIES
CREDIT MAR K E T INSTRUMENTS
U.S. G O V E R N M E N T SECURITIES
STATE ♦ LOCAL OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
O P EN-MARKET PAPER
POLICY LOANS
MISCELLANEOUS ASSETS
-.8 D I S CREPANCY
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
PRIVATE PENSION FUNDS
1
2
6.3
*
7.1
.2
7.3
-.2
6.8
.2
7.7
.4
10.9
2.0
12.3
-1.0
11.7
-2.1
11.6
-1.8
12.9
-.1
3
4
5
6
7
8
5.4
.6
-.2
.6
.1
.3
4.6
2.4
.2
2.1
.1
*
8.9
-1.6
-.3
-.‘7
-.6
.1
7.1
-.5
1.0
-.8
-.7
.1
5.3
2.0
.6
1.6
-.3
.1
2.3
5.8
1.1
4.7
*
.9
5.2
7.2
5.4
1.9
-.1
.9
5.2
8.5
3.0
5.4
.2
~
6.6
6.0
6.9
-.8
-.1
.8
4.3
6.9
5.6
1.5
-.1
1.6
13.2 NET ACQ. OF FINANCIAL ASSETS
*
D EMAND D E P OSITS ♦ CURRENCY
4.8
7.3
6.0
1.5
-.3
1.1
CORPORATE EQUITIES
CREDIT M A R K E T INSTRUMENTS
U.S. G O VERNMENT SECURITIES
CORPORATE BONOS
HOME MORTGAGES
MISCELLANEOUS ASSETS
1
2
3
4
5
6
7
8
STATE ♦ LOCAL GOVERNMENT EMPLOYEE RETIREMENT FUNDS
1
2
5.5
-.1
6.3
.1
6.3
.1
7.9
.1
9.4
.2
12.2
*
12.6
-.3
9.9
.4
16.7
-1.1
8.7
-.4
15.2 NET ACQ. OF FINANCIAL ASSETS
-.3
DEMAND D E P O S I T S ♦ CURRENCY
3
4
5
6
7
8
9
10
1.8
3.8
-.3
-.5
.2
-.1
3.6
.6
2.1
4.0
-.3
-.3
*
-.3
3.8
.8
3.2
3.0
-1.6
-1.2
-.3
.1
4.2
.3
3.5
4.3
-.6
-.5
-.1
-.1
5.3
-.3
3.9
5.3
.1
-.1
.2
-.6
5.9
-.1
3.5
8.7
.6
.7
-.1
-.6
8.4
.3
2.6
10.4
1.7
1.2
.5
1.1
7.3
.2
2.0
7.5
1.8
.6
1.3
.2
5.6
-.1
2.5
15.3
2.6
2.8
-.2
.8
11.6
.3
2.7
6.4
.7
1.1
-. 4
1.8
3.6
.4
3.2
12.3
1.6
.3
1.2
1.8
8.5
.4
OTHER
1
2
CORPORATE EQUITIES
3
CREDIT M A R K E T INSTRUMENTS
4
U.S. G O V E R N M E N T SECURITIES
5
DIRECT
6
AGENCY ISSUES
7
STATE ♦ LOCAL OBLIGATIONS
8
CORPORATE BONDS
9
MORTGAGES
10
INSURANCE COMPANIES
1
*
.6
1.5
1.8
1.2
.4
.3
.3
.3
.4
2
3
2.9
*
5.5
.1
6.6
.1
7.9
*
5.6
*
5.2
.1
6.2
.2
5.9
.3
6.1
.4
6.7
.1
6.2 NET ACQ. OF FINANCIAL ASSETS
.2
DEMAND DEP O S I T S ♦ CURRENCY
4
5
6
7
8
9
10
1.0
1.6
-.5
1.2
.8
*
.4
1.0
3.9
.1
1.5
2.3
*
.5
2.5
3.8
-.4
3.9
.3
*
.3
3.0
3.7
-. 4
4.8
-. 7
*
1.2
2.2
2.8
-.1
3.9
- 1.0
*
.7
-1.4
5.9
.3
1.8
3.8
*
.6
-.8
6.5
1.0
2.1
3.4
*
.3
-.6
5.8
.6
2.1
3.1
*
.3
-1.8
7.3
.6
2.4
4.2
.1
.3
-.5
6.8
1.6
2.0
3.2
*
.3
-.4
6.2
1.3
1.8
3.2
11
12
13
14
3.9
.5
.1
3.3
3.9
.4
.1
3.4
4.1
.6
-.1
3.6
5.4
.5
.1
4.8
3.7
.5
*
3.2
4.3
.4
*
3.9
5.5
.7
*
4.8
5.6
.8
*
4.8
5.5
.7
*
4.8
5.5
.7
*
5.5 NET INCREASE IN LIABILITIES
.7
CORPORATE EQUITY ISSUES
PROFIT TAXES PAYABLE
4.8
POLICY PAYABLES
11
12
13
14
15
1.0
-.9
-1.1
-.7
-.8
-.6
-.4
*
-.3
-.8
-.3 DISCREPANCY
15
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
.4 CURRENT SURPLUS
-
.2
1
2
3
CORPORATE EQUITIES
4
C REDIT M ARKET INSTRUMENTS
5
U.S. G O V ERNMENT SECURITIES
6
STATE ♦ LOCAL OBLIGATIONS
7
CORPORATE BONDS
8
COMMERCIAL MORTGAGES
9
TRADE CREDIT
10
10 FEBRUARY 1976
FINANCE N.E.C.
FINANCE N.E.C.
SECTOR STATEMENTS OF SAVING AND INVESTMENT
UNADJUSTED NET FLOWS
UNAD J U S T E D N E T FLOWS
1975 UNADJUSTEO NET FLOWS (ft MILL.)
I
II
III
IV
1963
YEAR T OTALS (ft BILL.)
1964
1965
1966
1 CURRENT SURPLUS OF GROUP
1967
1968
- 1 .1
-
2 .1
1
F INANCE COMPANIES
1 NET ACQ. OF FINANCIAL ASSETS
2
DEMAND DEPOSITS ♦ CURRENCY
3
HOME M O R TGAGES
4
CONSUMER C REDIT
5
OTHER LOANS (TO BUSINESS)
6 NET INCREASE IN L I A B I LITIES
7
CORPORATE BONOS
6
BANK LOANS N.E.C.
9
O P E N - MARKET PAPER
10
PROFIT TAXES PAYABLE
414
54
-330
-147
837
-728
53
-450
599
-930
1.634
52
- 700
1.274
1.008
2 .6
-60
-1.573
139
-2.258
243
-2.004
- 497
53
1.067
171
538
358
-30
-971
180
-306
-845
50
1.646
550
-393
1.489
36
2.7
.3
.1
.5
1.8
.2
1.2
1 .2
4.3
5.9
-.2
.8
2.2
2 .1
1.4
1 .6
4.0
1.4
4.1
1.6
1 .0
2.3
.2
.2
.5
3.2
*“•6
2 .0
1 .6
1 .1
5.2
1.9
3.1
2 .1
.5
1.5
2 .2
1 .2
- 1 .2
3.5
- .1
.8
.7
.1
.4
.5
-.3
1 .2
1.0
- 1 .8
5.2
.1
.6
2.3
2.2
5.7
•B
2.3
2 .6
.1
REAL ESTATE INVESTMENT TRUSTS
1 PHYSICAL INVESTMENT
2
M U LTI-FAMILY STRUCTURES
3
N0NRESIDENT1AL STRUCTURES
605
200
405
4 NET ACQ. OF FINANCIAL ASSETS
5
HOME MORTGAGES
6
MULTI-FAMILY MORTGAGES
7
COMMERCIAL MORTGAGES
8
MISCELLANEOUS ASSETS
9 NET INCREASE IN LIABILITIES
10
CORPORATE EQUITY ISSUES
11
CRED I T M ARKET INSTRUMENTS
12
MORTGAGES
MULTI-FAMILY RESIDENTIAL
14
COMMERCIAL
15
16
17
18
CORPORATE BONOS
BANK LOANS N.E.C.
O P E N-MARKET PAPER
-320
-711
391
87
4
267
33
894
295
599
615
203
412
506
167
339
-1.457
-330
-192
-441
- 494
-961
-250
-148
-346
-217
-949
-250
-271
-203
-225
-563
-472
-91
116
38
78
-346
-93
-253
83
27
56
-443
-76
-367
65
28
-332
97
16
-305
.4 10
.3 11
.2
.1
21
12
13
.1 14
8
- 15
.1 16
- 17
-472
32
MISCELLANEOUS L I A BILITIES
OPEN-END INVESTMENT C OMPANIES
-54
48
2 NET ACQ. OF FINANCIAL A SSETS
3
DEMAND D EPOSITS ♦ CURR E N C Y
1 CURR E N T SURPLUS
1.820
113
-472
78
442
4
5
6
7
8
12
1.695
-233
814
1.114
-340
-210
163
103
-476
-378
-520
CORPORATE EQUITIES
CREDIT M ARKET INSTRUMENTS
U.S. GOVER N M E N T SECURITIES
CORPORATE BONOS
O P E N-MARKET PAPER
9 NET SHARE ISSUES
1.874
-.5
-66
-253
29
1.3
- 1 .2
1 .0
.1
1 .2
2.5
.1
2 .2
.1
1.3
1.0
886
-321
39
.8
974
-122
34
13
114
.4
399
-247
.3
.8
1.5
.6
1.5
.1
1.9
-.5
-.5
2.5
.9
1.5
.2
.4
.3
- .1
1.7
3.6
.2
2.0
3.3
3.7
3.0
5.9
9
SECURITY BROKERS AND DEALERS
1 NET ACQ. OF FINANCIAL ASSETS
2
DEMAND DEPOSITS ♦ CURRENCY
-486
11
1.024
13
-3.384
14
5.458
16
.9
*
.8
*
.4
*
.5
*
.9
.1
3.4
.2
3.8
.5
1
2
3
4
5
6
7
8
-788
-253
707
-173
-787
544
162
-447
-650
41
162
1.296
-1.760
-2.054
-309
14
-1.759
416
2.495
2.686
148
44
2 .494
261
.1
1.0
.7
.2
.1
-.2
.3
-1.0
-1.3
*
.3
1.5
*
.9
.7
.2
*
-.5
.3
-.2
-.3
-.2
.3
.4
.1
.8
.7
*
.1
*
.4
-.3
-.8
*
.4
3.2
-.2
.6
.8
*
-.2
2.8
*
4
5
6
7
8
-481
-497
-947
450
16
1.015
1.061
1.036
25
-46
-3.370
-3.407
-3.022
-385
37
5.458
5.430
5.055
375
28
.9
1.0
1.0
*
*
.8
.8
.5
.2
*
.4
.4
.2
.2
*
.4
.4
-.5
.9
*
.8
.8
.6
.2
*
3.2
3.2
.8
2.3
.1
3.5
3.5
1.0
2.4
*
9
10
11
12
13
CORPORATE EOUITIES
C REDIT MARK E T INSTRUMENTS
U.S. G OVERNMENT SECURITIES;
STATE ♦ LOCAL O B L IGATIONS
CORPORATE BONDS
SECURITY CREDIT
9 NET INCREASE IN LIABILITIES
10
SECURITY CRED I T
11
FROM BANKS
12
CUSTOMER C REDIT BALANCES
13
PROFIT TAXES PAYABLE
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
10 FEBRUARY 1976
FINANCE N.E.C.
FINANCE N.E.C.
SECTOR STATEMENTS OF SAVING AND INVESTMENT
SEASONALLY ADJUSTED ANNUAL RATES
1
23
(BILLIONS OF DOLLARS)
1969
1970
1971
1972
1973
-2.6
-1.4
-.2
-1.0
-1. 0
1974
1975
-.6
*
S E A SONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
II
III
I
IV
.2
-.5
-.5
• 8 CURRENT SURPLUS OF GROUP
1
FINANCE COMPANIES
1
2
3
4
5
8.1
.1
.3
2.8
5.0
.9
.2
.1
.5
.1
4.4
.3
1.1
1.3
1.8
11.0
.3
4.1
3.8
2.8
10.4
.2
1.4
5.9
2.9
4.2
.2
-1.7
2.1
3.5
-.1
.2
-1.5
.2
1.1
-3.2
.2
.4
-1.6
-2.2
-.9
.2
-2.3
-1.2
2.4
1.8
.2
-1.7
1.3
1.9
6
7
8
9
10
8.3
1.6
1.9
4.9
*
1.6
2.5
“ 1.1
.2
*
4.2
3.8
*
.4
*
9.3
5.4
3.8
*
*
9.4
1.8
4.1
3.5
.1
3.9
1.1
-1.0
3.8
.1
-.5
1.1
-2.2
.5
.1
-4.2
1.4
-5.7
.1
.1
•
1.4
-l.l
-.2
.1
1.1
.7
.1
.3
.1
1.0 NET INCREASE IN LIABILITIES
1.1
CORPORATE BONDS
-1.9
BANK LOANS N.E.C.
1.8
O PEN-MARKET PAPER
.1
PROFIT TAXES PAYABLE
6
7
6
9
10
2.0 PHYSICAL INVESTMENT
.7
MULTI-FAMILY STRUCTURES
1.4
N 0NRESIDENT1AL STRUCTURES
1
2
3
4
5
6
7
8
1.8 NET ACQ. OF FINANCIAL ASSETS
.2
DEMAND D EPOSITS ♦ CURRENCY
-2.6
HOME MORTGAGES
2.1
CONSUMER C REDIT
2.1
OTHER LOANS (TO BUSINESS)
1
2
3
4
5
REAL ESTATE INVESTMENT TRUSTS
1
2
3
.3
.1
.2
.2
.1
.2
.4
.1
.3
1.1
.4
.8
.7
.2
.5
1.1
.4
.7
2.6
.9
1.8
2.4
.8
1.6
3.6
1.2
2.4
2.5
.8
1.6
4
5
6
7
8
1.0
.1
.3
.4
.1
2.4
.5
.6
1.0
.3
2.6
.7
.7
1.1
*
5.0
1.4
1.2
2.3
.2
5.6
1.3
.7
2.5
1.1
-.1
.3
.3
.3
-1.0
-4.3
-.9
-.6
-1.1
-1.7
-3.7
-.2
-.1
-.3
-3.1
-5.8
-1.3
-.8
-1.8
-2.0
-3.8
-1.0
-.6
- 1.4
-.9
-3.8 N ET ACQ. OF FINANCIAL ASSETS
-1.0
HOME MORTGAGES
-l.l
MULTI-FAMILY MORTGAGES
-.8
COMMERCIAL MORTGAGES
-.9
MISCELLANEOUS ASSETS
9
10
11
12
13
14
1.3
.8
.5
.2
.1
.2
2.7
1.4
1.3
.1
*
.1
3.0
.9
2.1
.1
*
.1
6.1
1.5
4.6
.5
.2
.3
6.3
.7
5.6
.3
.1
.2
1.0
-.6
1.6
.2
.1
.1
-1.7
-1.4
-.3
.4
.1
.2
-1.3
-2.8
1.6
.3
.1
.2
-2.3
-1.9
- .4
.5
.2
.3
-1.4
-.4
— 1.0
.3
.1
.2
- 1.8 NET INCREASE IN LIABILITIES
-.3
CORPORATE EQUITY ISSUES
-1.5
C R EDIT M A R K E T INSTRUMENTS
.3
MORTGAGES
.1
MULTI-FAMILY RESIDENTIAL
.2
COMMERCIAL
9
10
11
12
13
14
15
16
17
.1
.2
.5
.6
.4
.7
.8
.4
1.3
2.5
.6
4.0
.7
.2
4.6
-3.3
.1
-.8
.1
*
1.1
.1
.1
-1.3
.4
.1
-1.2
-.2
♦
-1.9
.1
1*
16
17
18
-
-
-
-
-
-
-
-
-
**
-
CORPORATE BONDS
BANK LOANS N.E.C.
O P E N-MARKET PAPER
MISCELLANEOUS LIABILITIES
18
OPEN-END INVESTMENT COMPANIES
1
-2.4
-1.1
-.7
-1.3
-.6
-.2
*
.5
-.4
-.5
2
3
2.6
-.1
1.7
*
.6
.1
-1.8
*
-2.2
.3
.8
-.2
1.5
.2
7.3
.5
-1.9
.3
1.8
-.3
4
5
6
7
8
1.7
.9
-.5
.2
1.2
1.2
.5
.2
.7
-.4
.4
♦
-.3
.6
-.3
-1.8
*
.1
.2
-.3
-2.3
-.2
.5
-.9
.2
-.5
1.4
*
-.4
1.8
-1.0
2.4
.8
.8
.8
*
6.8
-.9
3.3
4.5
-1.4
-.8
.7
.4
-1.9
-1.5
3.5
3.9
-.5
.1
9
4.9
2.8
1.3
-.5
-1.6
1.0
1.5
6.8
-1.4
2.2
.6 CURRENT SURPLUS
1
-1.0 NET ACQ. OF FINANCIAL ASSETS
.1
DEMAND D E P OSITS ♦ CURRENCY
2
3
-1. 3
.2
-.4
.1
.5
4
5
6
7
8
CORPORATE EQUITIES
CREDIT M A R K E T INSTRUMENTS
U.S. G O V E R N M E N T SECURITIES
CORPORATE BONOS
O P E N-MARKET PAPER
-1.6 NET SHARE ISSUES
9
SECURITY BROKERS AND DEALERS
1
2
-3.1
-.1
.8
-.3
1.4
*
4.2
*
- 3.6
*
-2.7
*
2.6
.1
9.2
*
4.1
.1
-12.7
.1
3
4
5
6
7
8
.4
.1
♦
-.2
.4
-3.5
.1
2.3
1.7
.6
.1
-1.3
.2
-1.3
-1.6
.1
.2
2.5
.1
.2
.2
-.1
.1
3.9
.4
.6
*
.2
.4
-4.6
-.4
-.6
.2
-.4
-.4
-1.8
.1
-.1
-.1
-.1
.1
2.5
2.4
4.6
2.8
-.7
2.4
2.2
.7
-1.8
-2.6
.2
.7
5.2
-6.6
-7.8
-1.2
.1
-6.6
1.7
9
10
11
12
13
-3.1
-3.0
-1.0
-2.0
-.1
1.0
1.0
1.9
-1.0
1.1
1.1
.7
.5
*
4.1
4.1
3.9
.2
*
-3.5
-3. 4
-3.2
-.2
*
-2.6
-2.5
-2.2
-.3
-.1
2.6
2.6
2.1
.5
*
9.2
9.2
7.4
1.8
*
4.1
4.1
4.0
.1
-.1
-12.6
-12.7
-11.2
-1.5
.1
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
9.8 NET ACO. OF FINANCIAL ASSETS
.1
DEMAND D E P OSITS ♦ CURRENCY
1
2
4.0
4.7
.6
.2
4.0
1.0
3
4
5
6
7
8
CORPORATE EQUITIES
C R EDIT MAR K E T INSTRUMENTS
U.S. GOVERN M E N T SECURITIES
STATE ♦ LOCAL OBLIGATIONS
CORPORATE BONDS
SECURITY CREDIT
9.8 NET INCREASE IN LIABILITIES
9.7
SECURITY CREDIT
8.2
FROM BANKS
1.5
CUSTOMER C REDIT BALANCES
PROFIT TAXES PAYABLE
.1
9
10
11
12
13
10 FEBRUARY 1976
REST OF THE WORLD
REST OF THE WORLD
24
SECTOR STATEMENTS OF SAVING AND INVESTMENT
UNADJUSTED NET FLOWS
UNADJUSTED NET FLOWS
1975 UNADJUSTED NET FLOWS ($ MILL.)
I
II
III
IV
1962
1963
YEAR TOTALS (i BILL.)
1964
1965
1966
1967
1968
2.3
49.9
47.7
3.6
1.4
REST OF THE WORLD
1 NET U.S. EXPORTS
2
U.S. EXPORTS
3
U.S. IMPORTS
4 TRANSFER RECEIPTS FROM U.S.
5 C URRENT ACCOUNT BALANCE
(U.S. BALANCE* SIGN REVERSED)
5.160
36.993
31.833
2.224
-2.936
6.269
36.285
30.016
2.186
-4.083
3.325
35.066
31.741
2.087
-1.238
6.796
38.981
32.185
2.078
-4.718
5.4
30.6
25.2
3.0
-2.4
6.3
32.7
26.4
3.1
-3.2
8.9
37.4
28.4
3.2
-5.7
7.6
39.5
32.0
3.3
-4.3
5.1
42.8
37.7
3.5
-1.6
4.9
45.6
40.6
3.7
-1.2
6 NET FINANCIAL INVESTMENT
7
N E T ACQ. OF FINANCIAL ASSETS
8
GOLD ♦ SDR'S Cl)
9
U.S. O EMANO DEPOSITS
10
U.S. TIME DEPOSITS
-5.599
2.638
27
-1.555
162
-4.550
3.156
-38
367
752
-1.178
1.895
-4
62
-80
-5.139
3.832
0
1.193
-458
-1.3
2.6
.9
.1
.5
-2.8
3.4
.5
.3
.9
-4.8
3.4
.1
.8
1.2
-3.8
1.9
1.7
.1
.6
-2.0
3.3
.6
.4
.3
-1.2
7.6
1.2
.3
1.2
11
12
13
14
15
U.S. CORPORATE EQUITIES
CREDIT MARKET INSTRUMENTS
U.S. GOVT. SECURITIES
U.S. CORPORATE BONDS (2)
OPEN-MARKET PAPER
961
4.776
6.605
230
-2.059
895
487
999
-162
-350 f
1.288
-601
-501
-100
0
1.000
-759
710
-60
-1.409
.1
1.4
1.3
*
*
.2
.7
.6
.1
.1
-.3
.9
.5
.2
.2
-.4
.1
— .2
-.1
.4
-.3
-1.6
-2.4
.6
.2
.7
2.0
2.1
-.1
*
16
17
SECURITY CREDIT
TRADE CREDIT
31
258
-122
-443
17
-19
*
-.1
*
*
*
.1
*
.1
*
.5
.1
.4
18
MISCELLANEOUS ASSETS
U.S. BANK LIABILITIES
TO FOREIGN A FFILIATES
DIR. INVESTMENT IN U.S.
OTHER
-2.007
404
1.795
2.858
-.3
1.0
.8
-.4
3.4
1.6
3.4 18
-2.438
340
91
-1.400
679
1.125
1.920
-124
-1
1.699
0
1.159
-.1
.1
-.3
.4
*
.6
.6
*
.2
.1
.1
-.5
2.9
.1
.4
.7
.3
.7
2.3 19
.3 20
.7 21
NET INCREASE IN LIABILITIES
U.S. OFF. FGN. EXCHANGE
♦ NE T IMF POSITION
8.237
7.706
3.073
8.971
3.9
6.2
8.2
5.6
5.3
8.8
7.6 22
23
321
13
317
-110
-.6
.1
*
.4
*
1.1
2.1 23
24
25
26
27
28
FOREIGN EQUITY ISSUES
CREDIT MARKET INSTRUMENTS
CORPORATE BONDS
BANK LOANS N.E.C.
OTHER LOANS
58
1.752
1.963
-1.279
1.068
13
2.963
988
1.956
19
-2
2.777
996
1.882
-101
0
4.465
2.195
1.141
1.129
*
2.1
1.0
.4
.7
.1
3.2
1.0
.6
1.6
.2
4.2
.5
1.8
2.0
.3
2.4
.5
.5
1.5
-.3
1.8
.7
-.2
1.2
.1
4.0
1.2
-.3
3.0
.2
2.7
1.1
-.5
2.1
29
30
SECURITY DEBT
TRADE DEBT
16
-282
24
-13
110
-450
7
-200
*
.5
*
-.4
♦
•8
*
-.1
*
.3
.2
.5
31
32
33
34
35
MISCELLANEOUS LIABILITIES
USG EQUITY IN IBRD* ETC.
FGN. CURR. HELD IN U.S.
U.S. DIR. INV. A B R O A D ! 2)
OTHER
6.372
151
2.801
1.470
1.95Q
4.706
151
2.315
2.135
105
321
190
-1.010
661
480
4.809
161
1.261
690
2.697
2.0
.1
.1
1.7
*
3.2
.1
.3
2.0
.8
3.1
.1
.1
2.3
.6
2.5
.1
-.4
3.3
-.4
3.4
.4
3.0
*
2.9
.1
-.1
2.7
.2
2.663
467
-60
421
-1.1
-.4
-1.0
-.5
.4
*
19
20
21
22
36 DISCREPANCY
56
218
(1) CONSISTS ONLY OF NE T PURCHASES FROM U.S.
EXCLUDES ACQUISITIONS FROM OTHER SOURCES.
(2) NET OF U.S. S ECURITY ISSUES IN FOREIGN MARKETS TO
FINANCE U.S. INVESTMENT ABROAD.
(3)
INCLUDES GOVERNMENT INTEREST PAID TO FOREIGNERS.
IV/75 BASED OK INCOMPLETE AND PRELIMINARY INFORMATION.
1
2
3
4
5
.9 6
8.5 7
1.2 8
.6 9
-.3 10
2.1
.3
-.5
.2
•6
11
12
13
14
15
.3 16
.9 17
24
25
26
27
28
.2 29
.4 30
2.1
.1
.5
1.1
.4
31
32
33
34
35
.5 36
10 FEBRUARY 1976
REST OF THE WORLD
REST OF THE WORLD
25
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
S EASONALLY ADJUSTED ANNUAL RATES
1969
1970
1971
1972
1973
1974
1975
S EASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
REST OF THE WORLD
1
2
3
4
5
9
10
1.8
54.7
52.9
3.8
2.0
3.4
10.3
-1.0
.3
3.9
62.5
58.5
4.3
.3
.8
5.9
•8
1 .6
65.6
64.0
5.5
3.9
13.6
22.7
1.3
2 1 .6
7.4
101.5
94.2
7.7
.3
7.7
144.2
136.5
8.5
.8
-13.0
17.3
148.2
130.9
8.9
-8.4
11.6
2 .1
19.7
17.4
*
2.5
2.9
-3.2
31.2
-16.5
11.5
-14.4
17.1
.6
1.5
2.7
1 .1
1 .6
- 3.3
72.7
75.9
6.5
9.8
147.3
125.8
8 .6
- .2
24.3
140.7
116.4
8 .6
-15.7
- 22.2
10 .2
- .2
.1
2.4
.6
*
3.0
3.8
18.1
25.4
.9
- 8 .1
6.0
-.6
- 1 .8
-4.3
6 .6
2 2 .1
148.5
126.4
8.4
-13.7
-13.5
5.4
*
1 .8
-.3
22.5 NET U.S. EXPORTS
151.9
U.S. EXPORTS
129.4
U.S. IMPORTS
8.4 T RANSFER REC E I P T S FROM U.S.
-14.1 CURRENT ACCOUNT BALANCE
(U.S. BALANCE* SIGN R E V E R S E O )
-15.7 NE T FINANCIAL INVESTMENT
13.4
NET ACQ. OF FINANCIAL ASSETS
GO L D ♦ SOR'S ( 1 )
2.8
U.S. D EMAND DEPOSITS
- 1.8
U.S. TIME DEPOSITS
2.3
8.4
8.4
2.8
- .2
.1
- .1
.1
1.4
.1
.1
.8
1 .0
- 6.8
3.4
7.6
7.9
20
21
-6.9
-4.1
.8
1.0
.9
.4
1 .1
4.6
- .2
2 .1
2.5
4.0
2 .2
2.2
.9
2.4
22
6.9
5.1
9.1
8 .2
15.3
23
.3
-2.5
-1.7
- .2
- .2
1.3
.5
24
25
26
27
28
.5
3.2
- .2
-.3
15.7
.1
1 2 .0
.1
-.4
3.5
4.5
.4
- 1.8
-.8
11
12
13
14
15
- 1.8
1 .0
.7
10.3
9.1
.7
.5
16
17
- .2
- .1
19
-.3
.5
26.4
26.3
.3
- .1
- 2.6
4 .7
1 .0
-.2
1 .6
2 .1
2.4
1 .0
2.9
- .2
.7
.3
.3
7.7
1 .0
2.8
3.9
2.4
.2
4.0
.2
-.5
2.2
.4
6 .6
3.6
-.4
5.6
.3
1.4
3.8
.3
3.5
.3
3.6
1.5
-1.9
4.8
3.6
- 2.5
4.1
3.9
7.8
- .1
-3.8
3.6
3.6
.2
5.2
-8 . 4
- 8 .1
-.4
*
4.0
2.4
8.0
-.2
-5. 4
-.5
.9
- 1.8
.1
-.1
SECURITY CREDIT
TRADE CREDIT
-2.4
- 1 .0
9.4
6 .1
-9.8
1.4
7.7
-.5
2.3
6.8
6.0
-5.6
2.7
1.9
-.6
MISCELL A N E O U S ASSETS
U.S. BANK LIABILITIES
TO FOREIGN AFFILIATES
DIR. INVESTMENT IN U.S.
OTHER
31.6
32.4
18.9
29.1
1.3
.1
1.3
-.4
.2
.1
7.3
7.9
-4.8
4.3
11.3
4.0
7.3
*
12.3
4.0
16.8
-
_
6 .1
4.7
8.7
3.7
.2
.1
3.0
-.9
- 1 .1
.1
- .1
14.8
16.2
.7
5.4
5.0
5.2
23.8
20.9
6.6
.8
13.6
9.3
8.5
2 .6
-4.0
3.2
6.7
5.0
5.8
3.5
6.0
6.5
- .2
.6
1 .1
7.2
5.9
-.5
2 .1
U.S. CORPORATE EQUITIES
CREDIT MARKET INSTRUMENTS
U.S. GOVT. SECURITIES
U.S. CORPORATE BONDS (2)
OPEN-MARKET PAPER
.1
1.0
2 .2
- .2
1.9
31
32
33
34
35
.5
11.6
3.6
1.3
.6
1 1 .2
.6
2.3
9.6
8.8
8.8
*
.6
2 .1
NET INCREASE IN LIABILITIES
U.S. OFF. FGN. EXCHANGE
♦ NE T IMF POSITION
FOREIGN EQUITY ISSUES
CREDIT MARKET INSTRUMENTS
CORPORATE BONDS
BANK LOANS N.E.C.
OTHER LOANS
SECURITY DEBT
TRADE DEBT
MISCELLANEOUS LIABILITIES
USG EQUITY IN IBRD* ETC.
FGN. CURR. HELD IN U.S.
U.S. DIR. INV. A b R O A D C 2)
OTHER
1 .6 DI SCREPANCY
(1) CONSISTS O N L Y OF N E T PURCHASES FROM U.S.
EXCLUDES ACQUISITIONS FROM OTHER SOURCES.
12) NET OF U.S. SECURITY ISSUES IN FOREIGN MARKETS TO
FINANCE U.S. INVESTMENT ABROAD.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
(3)
INCLUDES GOVERNMENT INTEREST PAID TO FOREIGNERS.
10 FEBRUARY 1976
MONETARY ANO INSURANCE RESERVES
MONETARY ANO INSURANCE RESERVES
26
GOLD, OFF I C I A L FOREIGN EXCHANGE* TREASURY CURRENCY* ANO INSURANCE RESERVES
UNADJUSTED NET FLOWS
UNADJU S T E D N E T FLOWS
1975 UNADJUSTED NET FLOWS
I
II
III
<* MILL.)
IV
1962
1963
YEAR TOTALS <$ BILL.)
1966
1964
1965
1967
1968
GOLD ANO OFFICIAL FOREIGN EXCHANGE HOLDINGS (1)
1 TOTAL U.S. RESERVES
294
51
321
-11 0
-1.5
-.4
-.2
- 1 .2
-.6
- .1
.9
1
2 U.S. GOLD STOCK AND SDR*S
-27
5
-32
38
38
-.9
«
-.9
-.5
*
-.5
-1.7
*
-1.7
- .6
- 1 .2
*
- 1 .2
-1 1 2
2
-2 1
0
0
0
- .1
0
4
25
.4
- 1 .6
3
4
321
13
317
-11 0
- .6
.1
*
.4
♦
1 .1
2 .1
5
14
-3
17
6
0
6
222
0
222
-167
*
.1
1 .0
1 .2
6
-.1
.1
.1
.3
*
.3
.5
.3
- 167
.2
.1
.1
.2
.3
.7
.7
.5
8
307
257
50
7
95
*
*
*
-.3
-.3
*
.1
.1
-.5
-.5
*
.1
.1
.9 9
.9 10
* 11
.2
.2
.1
.9
.7
.7
.5
.2
.2
3
4
U.S. GOVT.— EX. STAB. FUNO
MONETARY AUTHORITIES (21
5 U.S. FOREIGN EXCHANGE POSITION
6
7
8
9
10
11
OFFICIAL FGN. CURRENCY HLDGS
TREASURY
MONETARY AUTHORITIES
N ET IMF POSITION
U.S. GOVERNMENT ASSET
MONETARY AUTHORITIES
2
88
5
7
0
57
62
-5
*
-.6
-.6
*
-
- .1
*
*
-.6
•
7
TREASURY CURRENCY AND SDR CERTIFICATES
1 TOTAL U.S. GOVT. LIABILITY
2 MONETARY AUTHORITIES ASSET
3 UNALLOCATED ASSETS
167
136
31
311
398
-87
199
132
67
260
293
-33
*
*
*
*
*
*
*
-.2
.2
.4
.2
.2
1
2
3
INSURANCE AND PENSION FUND RESERVES
LIFE INSURANCE RESERVES:
1 NET CHANGE IN LIABILITIES
2
U.S. G OVERNMENT
1.791
17
1.774
1.745
17
1.728
1.913
17
1.896
1.905
17
1.888
4.1
.1
.1
.1
.1
4.3
4.7
4.6
5.0
4.6
*
4.6
1
2
3.6
1 .791
1.745
1.913
1.905
3.8
4.2
4.4
4.8
4.7
5.1
4.6
4
PENSION FUND RESERVES:
5 NET CHANGE IN LIABILITIES
U.S. GOVERNMENT
7
INSURANCE SECTOR
8
LIFE INSURANCE COMPANIES
9
PRIVATE PENSION FUNDS
10
S. ♦ L. GOVT., R T R . FUNDS
6.757
-405
7.162
1.592
3.100
2.470
13.356
5.048
8.308
1.485
2.650
4.173
5.702
-1.070
6.772
1.326
3.276
2.170
8.474
73
8.401
1.283
3.307
3.811
9.9
1.0
1 .2
1 1 .1
1 .2
12 .2
7.9
1.4
4.2
2.4
8.7
1.7
4.5
11 NET CHANGE IN ASSETS (HH)
6.757
13.356
5.702
8.474
8.9
3
LIFE INSURANCE COMPANIES
4 NET CHANGE IN ASSETS (HH)
6
3.8
.1
8.9
4.2
.1
4.4
4.8
4.7
5.1
3
9.9
1.3
10.9
14.7
1.3
13.5
14.6
1.3
13.3
2.6
4.9
3.0
5.5
3.3
7.2
4.2
4.1
15.5
5
1.3 6
14.2
7
2.9 8
6.4 9
4 *8 10
9.9
1 1 .1
12 .2
14.7
14.6
15.5 11
2.0
2 .1
2 .1
2.6
6.6
INTERBANK CLAIMS
1 NET CHANGE IN LIABILITIES
372
-5.957
2.985
-104
1.4
-.9
1 .6
.3
2.3
2.8
3.6
1
MONET. AUTH.— MEM. BANK RES.
— VAULT CASH
4.594
-1.078
-4.461
-478
3.387
1.118
-3.284
.1
.8
-.4
-.3
1 .0
.4
.3
1.3
1.3
.5
.8
2
1.3
3
-3.144
-1.482
6 76
-1.018
-37
-624
-1.520
-642
1.456
1.970
1.172
136
.5
.5
.5
—
*
*
-
-.3
.3
.4
1 .6
1 .6
.1
.3
.3
.3
-
1.0
1.0
-.3
*
*
-.4
-.4
-.4
-
10
COMMERCIAL B ANKING— TOTAL
COMMERCIAL BANKS
TO MONETARY AUTHORITIES
LOANS FROM AFFILIATES
LOANS FROM FGN. BK. AG.
DEM. DEP. OF FGN. BK. AG
TIME DEP. OF FGN. BK. AG
- .1
.1
- .1
.1
11
FOREIGN BANKING A G E NCIES—
DEPOSITS OF BANKS
2
3
4
5
6
7
8
9
1.2 10
0
0
0
0
923
-3.107
26
1.668
-942
768
-2.914
48
-604
1.622
18
-139
- .2
.3
-
.2
*
.6
-
*
-
.1
.9
*
4
5
.9 6
—
7
*
8
.7 9
- 10
-1.662
-981
-878
798
*
*
- .1
*
*
*
* 11
12 NET CHANGE IN ASSETS
372
-5.957
2.985
-104
1.4
-.9
1.6
.3
2.3
2.8
3.6 12
13
14
15
MONETARY AUTHORITIES
F.R. FLOAT
LOANS TO MEMBER BANKS
676
162
514
-624
-372
-252
1.456
615
841
136
1.309
-1.173
.5
-.3
-.3
*
.1
*
-.4
-.4
.3
.3
*
.6
- .1
.1
.1
- .1
.1
*
.9 13
.9 14
* 15
16
17
18
19
COMMERCIAL B A N KING— TOTAL
C OMMERCIAL BANKS
MEMBER BANK RESERVES
VAULT CASH
DEPOSITS AT FGN. BK. AG.
BANK AFFILIATES— LOANS
TO AFFILIATE BANKS
-304
1.854
4.594
-1.078
-1.662
-5.333
-5.920
-4.461
-478
-981
1.529
3.627
3.387
1.118
-878
-240
-1.276
-3.284
2.0
2.0
2.7
1.3
*
1.3
.5
*
0
0
0
0
*
1.0
20
21
.9
.9
1.2 10
.1
.8
798
*
FOREIGN BANKING AGENCIES
-2.158
587 -2.098
1.036
23
DEMAND DEPOSITS AT BANKS
-3.107
1.668 -2.914
1.622
24
TIME DEPOSITS AT BANKS
26
-139
48
18
25
LOANS TO BANKS
923
768
-942
-604
(1) LINES I
2 EXCLUDE INITIAL ALLOCATION OF SDR'S OF $867 MILLION
IN JANUARY 1970, $717 MILLION IN JANUARY 1971, AND $710 MILLION
IN JANUARY 1972.
TRANSACTIONS IN SDR»S ARE IN LINE 2.
ALSO
EXCLUDED FROM THE TABLE ARE REVALUATIONS OF FOREIGN CURRENCY
HOLDINGS, GOLD, SDR'S, AND IMF POSITION.
THESE ALLOCATIONS AND
REVALUATIONS ARE INCLUDED IN TABLES ON OUTSTANDINGS.
(2) TREASURY GOLD STOCK.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
-
1.5
1.3
1.0
.3
- .1
-
-
22
- .6
-.7
-.4
-.3
*
*
*
-
.1
*
*
.7
.7
.4
.3
*
*
.2
*
.2
.6
*
.1
-.1
1.8
-
.1
-.1
.9
.1
2.7 16
2 .1 17
.8 18
1.3 19
♦ 20
-
21
.7 22
.7 23
24
* 25
10 FEBRUARY 1976
MONETARY AND INSURANCE RESERVES
MONETARY AND INSURANCE RESERVES
27
GOLD* OFFICIAL FOREIGN EXCHANGE* TREASURY CURRENCY* AND INSURANCE RESERVES
(BILLIONS OP DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
S E A SONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
GOLD AND OFFICIAL FOREIGN EXCHANGE HOLDINGS (I)
1
1.3
-3.3
-3.1
-.7
-.2
1.4
.6
1.2
.2
1.3
2
3
4
1.0
1.0
-
-.8
-1.2
.4
-1. 3
-.7
-.6
-.6
*
-.5
*
*
.2
.1
.1
*
.1
-.1
-.1
*
-.1
.2
.2
*
.1
-.1
-.4
4 TOTAL U.S. RESERVES
_
-
U.S. G O V T . — EX. STAB. FUND
MONETARY AUTHORITIES (2)
5
.3
- 2.5
-1.7
-.2
-.2
1.3
.5
1.3
.1
1.3
-.4
6
7
8
-.7
-.7
-.1
- 2.2
-.4
-1.7
-.4
-.1
-.2
*
-.2
.2
-.2
*
-.2
•
*
•
.1
*
.1
•1
*
.1
*
*
.9
.9
-.7
—
-.7
9
10
11
1.0
1.0
*
-.4
-.4
*
-1.4
-1.3
*
-.1
-.1
•
*
*
*
1.3
1.3
•
.5
.4
.1
1.2
1.0
.2
*
*
*
.4
.4
*
.2
.2
*
.7
.5
.1
1.2
1.6
-.3
.8
.5
.3
1.0 TOTAL U.S. GOVT. LIABILITY
1.2 MONETARY AUTHORITIES ASSET
-.1
—
OFFICIAL FGN. CURRENCY HLDGS
TREASURY
MONETARY AUTHORITIES
NET IMF POSITION
U.S. G O V ERNMENT ASSET
MONETARY AUTHORITIES
10
11
TREASURY C URRENCY AND SDR CERTIFICATES
1
2
3
.3
.1
.2
.6
.7
-.1
.5
.5
*
.5
.7
-.2
.4
.4
♦
.4
.5
-.1
.9
1.0
*
INSURANCE AND PENSION FUND RESERVES
-
-
1
2
3
5.0
.1
4.9
5.2
.1
5.1
6.2
.1
6.1
6.6
.1
6.5
7.3
.1
7.2
7.3
.1
7.2
7.4
.1
7.3
7.2
.1
7.1
7.0
.1
6.9
7.7
.1
7.6
LIFE INSURANCE RESERVES:
7.6 NET CHANGE IN LIABILITIES
U.S. GOVERNMENT
.1
7.6
LIFE INSURANCE COMPANIES
4
5.0
5.2
6.2
6.6
7.3
7.3
7.4
7.2
7.0
7.7
7.6 NET CHANGE IN ASSETS (HH)
5
6
7
8
9
10
16.3
1.5
14.8
2.9
6.3
5.5
19.1
2.4
16.7
3.3
7.1
6.3
21.6
2.8
18.7
5.2
7.3
6.3
23.8
3.2
20.6
6.0
6.8
7.9
24.4
2.1
22.3
5.2
7.7
9.4
31.7
2.8
28.9
5.7
10.9
12.2
34.3
3.6
30.6
5.7
12.3
12.6
29.2
1.3
27.9
6.4
11.7
9.9
48.9
14.7
34.2
5.9
11.6
16.7
25.0
-1.8
26.8
5.3
12.9
8.7
34.0
.4
33.6
5.1
13.2
15.2
11
16.3
19.1
21.6
23.8
24.4
31.7
34.3
29.2
48.9
25.0
34.0 N ET CHANGE IN ASSETS (HH)
PENSION FUND RESERVES:
U.S. GOVERNMENT
INSURANCE SECTOR
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S. ♦ L. GOVT.* RTR. FUNDS
INTERBANK CLAIMS
1
2.0
4.5
5.6
2.0
7.9
4.8
-2.7
1.4
-12.6
2.5
2
3
.2
.1
2.1
-.3
3.6
.5
-2.1
1.1
1.4
2.0
-1.2
1.0
.2
.8
14.4
-5.6
-11.5
1.3
12.0
.3
-13.9
7.1
MONET. A U T H . — MEM. BANK RES.
— VAULT CASH
4
5
6
7
8
9
10
1.6
1.6
*
.6
.1
.8
~
2.7
2.5
1.0
.1
.1
1.2
.1
1.5
1.6
-.2
.3
.1
1.3
*
3.0
.5
1.6
-.4
.2
-1.2
.3
4.4
2.1
-1.6
-.4
1.4
2.6
.1
5.1
1.9
-2.1
-.2
-.2
4.3
.1
-3.7
-1.0
1.6
-7.4
-.7
7.9
-2.3
1.6
-.8
-9.8
- 6.3
2.1
4.7
1.5
-2.7
.1
-2.7
*
3.7
-12.4
.1
-3.8
6.7
-.6
3.1
-11.7
.2
-2. 4
6.5
.1
C OMMERCIAL BANK I N G — TOTAL
COMMERCIAL BANKS
TO MON E T A R Y AUTHORITIES
LOANS FROM AFFILIATES
LOANS FROM FGN. BK. AG.
DEM. DEP. OF FGN. B K . AG
TIME DEP. OF FGN. BK. AG
4
5
6
7
8
9
10
11
.1
.2
-.1
2.5
2.3
3.1
-2.7
-6.6
-3.9
-3.5
3.2
FOREIGN BANKING AGENCIES—
DEPOSITS OF BANKS
11
12
2.0
4.5
5.6
2.0
7.9
4.8
-2.7
1.4
-12.6
2.5
-2.2 NET CHANGE IN ASSETS
13
14
15
*
*
*
1.0
.8
.2
-.2
.1
-.3
1.6
- .4
1.9
-1.6
-.9
-.7
-2.1
-1.1
-1.0
1.6
1.7
-.1
7.9
7.2
.7
-.8
-2.3
1.5
2.1
.9
1.2
-2.7
1.1
-3.8
16
17
18
19
20
2.0
.4
.2
.1
.1
3.5
2.0
2.1
-.3
.2
5.8
4.0
3.6
.5
-.1
.4
1.5
-2.1
1.1
2.5
9.5
5.8
1.4
2.0
2.3
6.8
2.9
-1.2
1.0
3.1
-4.3
-1.7
.2
.8
-2.7
-6.5
2.2
14.4
-5.6
-6.6
-11.8
-14.2
-11.5
1.3
-3.9
.4
8.8
12.0
.3
-3.5
.5
-3.7
-13.9
7.1
3.2
-
21
.6
.1
.3
- .4
-.4
-.2
-
22
23
24
25
1.0
.8
1.4
1.2
.1
.1
1.5
1.3
*
.1
-.7
-1.2
.3
.2
4.1
2.6
.1
1.4
4.2
4.3
.1
-.2
-2.6
-2.7
*
.1
-
.1
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
-
-
-
-2.2 NET CHANGE IN LIABILITIES
-
MONETARY AUTHORITIES
F.R. FLOAT
LOANS TO MEMBER BANKS
13
14
15
COMMERCIAL BANK I N G — TOTAL
COMMERCIAL BANKS
MEMBER BANK RESERVES
VAULT CASH
DEPOSITS AT FGN. BK. AG.
BANK AFFILI A T E S — LOANS
TO AFFILIATE BANKS
16
17
IB
19
20
-8.6
2.3
-8.4
4. 1
FOREIGN BANKING AGENCIES
-12.4
6.7
-11.7
DEMAND DEPOSITS AT BANKS
6.5
.1
-.6
.2
TIME DEPOSITS AT BANKS
.1
3.7
-3.8
3.1
-2.4
LOANS TO BANKS
(1) LINES 1 4 - 2 EXCLUDE INITIAL ALLOCATION OF SDR'S OF $867 MILLION
IN JANUARY 1970* $717 M ILLION IN JANUARY 1971* AND $710 MILLION
IN JANUARY 1972.
TRANSACTIONS IN SDR»S ARE IN LINE 2.
ALSO
EXCLUDED FROM THE TABLE ARE REVALUATIONS OF FOREIGN CURRENCY
HOLDINGS* GOLD* SDR*S* AND IMF POSITION.
THESE ALLOCATIONS AND
REVALUATIONS ARE INCLUDED IN TABLES ON OUTSTANDINGS.
(2) TREASURY GOLD STOCK.
22
23
24
25
-
-
-
-
21
10 FEBRUARY 1976
MONEY AND DEPOSITS SUMMARY
MONEY AND DEPOSITS SUMMARY
28
MONEY STOCK AND TIME AND SAVINGS ACCOUNTS
UNAOJUSTED NET FLOWS
U NA D J U S T E D NE T FLOWS
(BILLIONS OF DOLLARS)
1975 UNADJUSTED NET FLOWS
I
II
III
($ MILL.)
IV
1962
1963
YEAR TOTALS CS BILL.)
1964
1965
1966
1967
1968
DEMAND DEPOSITS AND CURRENCY
1 NET CHANGE IN ASSETS
-21.711
21.030
-2.485
19.678
5.2
5.0
8 .6
7.3
3.9
15.0
14.8
1
2
-21.416
-19.861
-13.754
-1.140
-1.410
-851
-2.706
-1.555
19.586
19.219
15.446
-439
1.233
-400
3.379
367
-4.056
-4.118
-650
985
-1.441
-514
-2.498
62
19.623
18.430
7.178
2.713
1.763
1.291
5.485
1.193
3.9
3.8
8.4
7.7
4.5
8.3
4.3
3.9
3.9
.3
13.9
13.6
16.0
15.4
12.3
1.9
2
.1
5.3
5.0
3.2
.3
1.5
*
*
.3
3
4
5
6
7
8
9
MONEY STOCK
DOMESTIC SECTORS
HOUSEHOLDS
NONFINANCIAL BUSINESS
S. ♦ L. GOVERNMENTS
FINANCIAL SECTORS
MAIL FLOAT
REST OF THE WORLD
1.6
1 .1
.5
1.0
-.4
.8
1 .6
.2
8 .1
7.7
.4
-.4
.4
*
.8
-.2
.8
.1
-.9
.4
.5
1 1 .2
1 .6
1.2
.8
- 1 .2
1.571
55
1.3
-.3
.2
- 1.0
-.4
1 .1
19.678
3.916
105
176
3.635
5.2
.7
5.0
8 .6
7.3
3.9
2.3
562
79
-632
-2.485
700
1.468
-148
-620
- .1
2 .1
.2
.2
2.0
15.0
3.0
.9
*
-21.720
-8 57
-1.634
-19.229
15.260
-833
515
15.578
-3.185
103
15.762
-50
1.017
14.795
4.5
5.2
1.6
12.0
.2
13
14
15
16
17
18
19
U.S. GOVT. CASH ♦ DEPOSITS
FOREIGN DEPOSITS
CURRENCY
COMMERCIAL BANKING
U.S. GOVERNMENT DEPOSITS
FOREIGN DEPOSITS
PRIVATE DOMESTIC
210
-3.498
.1
*
.6
1.2
.1
3.2
2.8
1.9
-3
.2
.1
- .1
2 .6
2-2
- .6
.3
2.4
1.7
6.7
*
.7
6.0
2.0
*
8
- 1 .2
1.444
21.030
5.770
2.277
-148
3.641
U.S. G O V ERNMENT DEPOSITS
6
.9
.5
.6
-295
10
- .2
.3
11 NET CHANGE IN BKG. SYSTEM LIAb -21.711
9
12
MONETARY AUTHORITIES
2 .1
- 1 .0
-.5
.2
6.0
.2
1.9
.3
11.4
3
4
5
7
9
10
14.8 11
1.5 12
- 1.0 13
. 1 14
2.4 15
13.3 16
- .2 17
.5 18
13.0 19
TIME DEPOSITS AND SAVINGS ACCOUNTS
1 NET CHANGE - TOTAL
27.865
2 2 .0 11
15.915
21.312
28.7
29.6
30.4
33.2
20.2
40.9
33.4
1
2
9.*27
-5.0 84
14.318
193
3.540
-6.342
9.761
5.437
2.412
2.900
125
8.912
-911
9.661
162
15.6
3.0
14.4
3.7
10.7
14.6
2.7
20.1
13.3
23.9
4.7
19.1
20.7
3.1
17.4
2
*
.1
.1
.2
12.707
-2.241
-1.422
173
48
162
4.624
-1.278
-446
-158
46
752
5.807
393
-841
158
9.237
-545
738
-60
18.1
17.4
.4
3.2
6
.1
9
-80
13.2
-1.4
1.3
*
*
.3
18.438
3.584
1.796
13.058
12.196
862
18.471
3.708
1.802
12.961
12.919
42
10.478
1.567
13.1
3.6
6.9
17.0
5.1
8.5
30.2 83
23.053
3
4
5
6
7
8
9
10
11
COMMERCIAL BANKING LIABILITY
LARGE NEGOTIABLE CD'S
OTHER AT COMMERCIAL BANKS
AT
FOREIGN
BANKING
AGS.
ACQUIRED BY:
HOUSEHOLDS
NONFIN. CORPORATE BUSINESS
STATE ♦ LOCAL GOVERNMENTS
U.S. GOVERNMENT
MUTUAL SAVINGS BANKS
FOREIGN
12
AT SAVINGS INSTITUTIONS
MUTUAL SAVINGS BANKS
CREDIT UNIONS
SAVINGS ♦ LOAN ASSNS.
HELD BY: HOUSEHOLDS
CREDIT UNIONS
MEMO: TOTAL OF HOUSEHOLDS
18
TIME ♦ SAVINGS ACCOUNTS
13
14
15
16
17
121
*
12.6
.1
1.5
9.5
2.4
-458
*
*
.5
*
*
.9
13.1
3.1
.7
9.4
9.3
*
15.2
3.3
8.223
8.966
-743
12.400
2.317
1.244
8.839
8.613
226
.1
17.028
21.411
25.7
24.6
0
688
IV/75 BASED ON INCOMPLETE AND P R E LIMINARY INFORMATION.
12 .6
0
1.0
1 .6
1 1 .8
1 1 .6
*
1.7
*
.1
1 .2
15.9
4.2
3.7
16.4
14.9
2.3
2.4
*
*
.6
1 .0
- .6
13.8
*
2.6
.8
.8
1 1 .1
1 .1
10.6
11.0
10.5
.1
8.6
-.1
3.6
3.9
-.4
27.4
28.0
20.5
2 .1
2.4
*
*
1 .2
3
4
5
7
8
* 10
-.3 11
.2
12.7 12
4.2 13
1 . 1 14
7.4 15
7.6 16
- . 2 17
34.8
30.3 18
1 .2
10.6
10.4
10 FEBRUARY 1976
MONEY ANO DEPOSITS SUMMARY
MONEY AND DEPOSITS SUMMARY
MONEY STOCK AND TIME ANO SAVINGS ACCOUNTS
29
SEASO NALLY ADJUSTED ANNUAL RATES_______________ _______________ (BILLIONS OP DOLLARS)
1969
1970
1971
1972
1973
1974
1975
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ A NNUAL RATES
I
II
III
IV
DEMAND DEPOSITS ANO CURRENCY
1
8.2
14.3
17.4
19.6
16.0
11.1
16.5
-14.2
54.5
23.4
2
3
4
5
6
7
a
9
7.6
7.4
1.5
2.7
1.4
-.3
2.1
.3
11.8
11.6
11.2
1.1
-2.9
1.0
1.2
.2
14.3
14.0
11.0
.6
1.0
1.3
•1
.3
20.0
18.4
11.8
.2
1.5
1.7
3.2
1.5
17.5
15.0
13.1
-.3
-.3
2.4
.1
2.5
15.7
13.3
8.5
.4
.1
2.5
1.8
2.4
13.7
13.7
8.2
2.1
.1
-.5
3.7
.1
-20.8
-16.5
-18.6
2.9
.8
-1.4
-.2
-4. 3
55.5
55.5
48.5
1.7
1.3
-2.0
5.9
*
11.9
10.1
2.6
1.9
2.8
- .7
3.6
1.8
8.4
5.6
.5
1.6
- 4. 3
2.2
5.6
2.8
MONEY STOCK
DOMESTIC SECTORS
HOUSEHOLDS
NONFINANCIAL BUSINESS
S. ♦ L. GOVERNMENTS
F INANCIAL SECTORS
MAIL FLOAT
REST O F THE MORLD
-6.0
U.S. G O V ERNMENT DEPOSITS
10
.6
2.5
3.1
-.4
-1.5
-4.6
2.8
6.7
-1.0
11.5
11
12
13
14
15
8.2
3.3
.5
-.1
2.8
14.3
3.1
-. 4
*
3.5
17.4
4.4
.9
.1
3.4
19.6
3.2
-l.l
-.1
4.4
16.0
3.4
-.5
-.1
3.9
11.1
7.0
.4
.2
6.3
16.5
10.4
4.4
*
6.0
-14.2
9.9
2.7
.3
6.9
54.5
14.4
7.2
-.6
7.8
23.4
10.2
6.3
6
4.5
16
17
18
19
4.9
*
.4
4.5
11.2
2.9
.2
8.1
13.0
2.2
.2
10.6
16.3
.7
1.6
14.0
12.6
-1.0
2.6
11.0
4.1
-5.1
2.1
7 .0
6.1
-1.6
.1
7.6
-24.1
4.0
-4.7
-23.4
40.1
-8.2
.6
47.7
13.2
5.3
2.4
5.6
.
TIME
2.3 NET CHANGE IN ASSETS
2.3 NET CHANGE IN BKG. SYSTEM L1AB
7.1
MONETARY AUTHORITIES
1.5
U.S. GOVT. C A S H ♦ DEPOSITS
.7
F OREIGN DEPOSITS
4.9
CURRENCY
- 4.7
-7.5
2.1
.7
C OMMERCIAL BANKING
U.S. GOVERNMENT DEPOSITS
FOREIGN DEPOSITS
PRIVATE DOMESTIC
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
ANO SAVINGS ACCOUNTS
1
-1.5
54.9
81.9
88.5
79.1
79.1
87.1
92.9
96.4
67.3
91.8 NET CHANGE - TOTAL
2
3
4
5
-9.5
-12.5
2.9
.2
38.0
15.2
2 2.4
.4
41. 4
8.7
32.4
.3
42.3
9.8
33.0
-.5
50.9
20.0
30.3
.6
57.0
28.5
28.3
.2
27.3
-9.9
36.6
.6
25.5
-20.3
45.1
.8
24.0
-25.4
48.9
.5
16.6
9.6
6.5
.5
43.1
-3.6
46.1
.6
6
7
8
9
10
11
-2.0
-2.4
-5.9
-.2
-.1
1.1
27.5
1.7
10.0
.3
.2
-1.7
29.8
3.6
7.2
.1
.2
.5
29.5
3.1
6.8
.1
.2
2.7
39.5
1.4
7.2
-.2
.1
2.9
37.9
6.6
5.7
*
.2
6.6
32.4
-3.7
-2.0
.1
.1
.4
41.3
-8.9
-8.4
.7
.2
.6
23.6
-5.8
3.6
-.6
.2
3.0
15.7
1.0
-.4
.6
-.3
48.9
-1.0
- 2.7
-.2
-1.8
COMMERCIAL BANKING LIABILITY
2
LARGE NEGOTIABLE CD'S
3
OTHER AT COMMERCIAL BANKS
4
AT FOREIGN BANKING AGS.
5
ACQUIRED BY:
HOUSEHOLDS
6
NONFIN. CORPORATE BUSINESS
7
STATE ♦ LOCAL GOVERNMENTS
8
U.S. GOV E R N M E N T
9
MUTUAL SAVINGS BANKS
10
FOREIGN
11
12
13
14
15
16
17
7.9
2.6
1.4
3.9
4.0
-.1
17.0
4.4
1.7
10.9
10.8
.1
40.6
9.9
2.9
27.8
2 7. 7
.1
46.1
10.2
3.4
32.6
3 2.3
.2
28.1
4.7
2.9
20.5
20.5
*
22.1
3.1
3.0
15.9
15.6
.4
59.8
11.2
5.5
43.1
42.7
.4
67.4
14.3
6.6
46.4
45.5
.9
72.4
14.6
6.7
51.2
50.1
1.1
50.7
8.9
3.8
38.0
38.8
-.8
4 8.7
6.9
5.1
36.8
36.4
.4
12
13
14
15
16
17
18
6.0
4 4. 4
7 0.3
75.4
67.7
59.6
91.8
107.8
94.9
67.2
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
AT SAVINGS INSTITUTIONS
MUTUAL SAVINGS BANKS
CREDIT UNIONS
SAVINGS ♦ LOAN ASSNS.
HELD BY: HOUSEHOLDS
CRE D I T UNIONS
MEMO: TOTAL OF HOUSEHOLDS
97.3
TINE ♦ SAVINGS ACCOUNTS
1
18
10 FEBRUARY 1976
U.S. GOVT. SECURITIES
30
U.S. GOVT. SECURITIES
U.S. G OVERNMENT SECURITIES MARKET SUMMARY
UNADJUSTED NET FLOWS
U N A DJUSTED N E T FLOWS
1975 UNADJUSTED NET FLOWS (S MILL.)
I
II
III
IV
1 TOTAL NET ISSUES
TREASURY ISSUES
2
3
4
5
6
7
8
HOUSEHOLD SAVINGS BONDS
TREAS. EXCL. SAVINGS BONDS
OTHER
BUDGET AGENCY ISSUES
LOAN PARTICIPATIONS Cl)
SPONS. A GENCY ISSUES (2)
9 NET ACQUISITIONS, BY SECTOR *
10
U.S. GOVT. 1 AGENCY SEC.)
SPONSORED CREDIT AGENCIES
11
12
TREASURY M ARKETABLE
13
FHLB SPECIAL ISSUE
14
FEDERAL RESERVE SYSTEM
15
16
17
FOREIGN
SHORT-TERM MARKETABLE
OTHER
18
TOTAL PRIVATE DOMESTIC
19
20
21
22
PRIVATE DOMESTIC NONFINAN.
SAVINGS BONDS (HH)
TREAS. EXCL. SVGS. BONDS
AGENCY ISSUES
23
24
25
26
PVT. DOM. NONFIN., BY SEC.
HOUSEHOLDS
SAVINGS BONDS
TREAS. EXCL. SVGS. BONDS
AGENCY ISSUES
27
28
29
NONFIN. CORPORATE BUSINESS
TREASURY ISSUES
AGENCY ISSUES
30
31
32
STATE ♦ LOCAL GOVERNMENTS
TREASURY ISSUES
AGENCY ISSUES
21.048
19.745
18.734
18.612
16.704
1.081
15.623
25.913
23 .475
977
22.498
29.814
25.925
960
24.965
1.303
— 291
-204
1.798
1.908
-30
-106
2.044
2.438
29
51
2.358
3.889
17
3.872
21.048
4
3.468
3.468
18.612
25.913
29.814
1 .0 1 1
0
1962
1963
8.3
5.5
4.1
6.2
.4
5.8
2 .1
*
.5
1.5
YEAR TOTALS <* BILL.)
1964
1965
1966
2.9
.7
1.4
*
1.3
*
2.4
6.4
.1
.1
.1
-.2
.8
.4
1.9
1.3
5.1
4.0
-.6
6.4
1.5
1.7
3.2
3.7
*
8.8
12.5
16.7
1 .0
1.3
- .1
1.5
.4
5.5
*
.4
6.7
*
-.4
.1
- .1
.1
- .2
.3
-.3
3.5
.3
3.7
1.3
.6
- .6
1 .1
.5
- .2
.1
-.9
.7
-2.4
-.9
-1.5
-12
0
0
0
158
158
2.364
1.817
3.394
835
6.605
3.437
3.168
999
1.637
-638
-501
692
-1.193
710
767
-57
-.9
8.607
16.238
25.193
28.111
4.7
1 .6
3.2
*
-4.331
-526
1.081
-1.325
-282
10.646
977
9.740
-71
15.307
960
12.445
1.902
1.4
.4
.7
.3
4.5
1.0
2.9
1 .2
.9
-.3
.4
.6
1 .0
-6.349
1.081
-7.343
-87
8.197
977
7.489
-269
3.568
960
1.958
650
.3
.4
3.6
2.7
.9
2.5
-4.300
-2.995
-381
-477
96
6.939
6.326
613
778
664
114
8.809
8.297
512
2.334
1.559
775
-1.116
-308
-808
1.671
1.587
84
2.930
2.190
740
1 .0 1 1
-3.218
-2.124
-6.284
1.0 1 1
2.2
16.7
10.3
.4
9.9
2.3
.7
1.7
.6
-2.161
-2.161
0
12.5
8.9
.9
3.7
1.3
-442
-442
0
1968
6.7
5.4
.9
4.5
1 .2
8.3
*
.4
.4
*
1.9
0
8.8
1967
2.8
2.5
.8
.4
1.3
.3
.6
3.5
8.0
3.6
♦
.9
-.9
4.8
2 .1
.8
1
2
3
4
5
6
7
8
9
. 1 10
- . 1 11
- . 1 12
13
3.8 14
1.3
-.5 15
-1.7 16
1.2 17
5.4
5.7
13.3 18
8.4
.7
3.6
4.1
-1.4
.9
- 2.6
.3
8 .1 19
.4 20
4.4 21
3.3 22
7.7
.7
5.6 23
.4 24
5.4 25
- . 2 26
.9
4.4
1.5
.9
-.7
1.4
.2
.2
*
-. 4
.4
- 1 .6
-1.3
-.3
-2.5
- 2.8
.4
- 1 .2
- 1 .6
.4
-2.5
-l.l
-1.4
.3 27
-.5 28
.8 29
.9
.9
.7
-.1
2.8
2.8
1.9
2.5
-.4
- .8
.4
2.2 30
-.5 31
2.7 32
-3.1
-3.4
.3
9.4
6.5
2.9
3.3 33
2 . 1 34
1 .2 35
.1
-2.3
-2.7
.4
2.0 36
-.5
.7
- .6
.5
*
1 .1
-.1
33
34
35
COMMERCIAL B ANKING
TREASURY ISSUES
AGENCY ISSUES
4.039
3.728
311
9.149
8.564
585
8.559
8.538
21
8.543
8.286
257
36
37
38
PRIVATE N ONBANK FINANCE
TREASURY ISSUES
AGENCY ISSUES
8.899
6.018
2.881
7.615
5.712
1.903
5.988
4.157
1.831
4.261
2.906
1.355
2.0
1 .6
39
40
41
42
PVT. NONBANK FIN., BY SECTOR
SAVINGS ♦ LOAN ASSNS.
TREASURY ISSUES
AGENCY ISSUES
8.899
5.325
3.325
5.988
2.2 52
4.261
3
2.0
2.000
7.615
3.547
2.315
1.232
1.3
- .2
1.4
.3
1 .2
2 .2
.2
1.0
.8
*
.6
1.0
.2
-.2
*
-2.9
-3.3
.3
-.2
.3
- 2.8
-3 .4
2.6
-.6
.5
.6
.1
- .1
.2
1 .8
- .1
-.6
.1
1 .0
1.8
.6
- .1
.1
-2.3
2.0 39
.9
.5
.5
.4
.4
.3
1.4
.1
.1
.1
.1
.2
.7 40
.4 41
.4 42
1.4
.4
.4
1 .6
.3 37
1.7 38
1.252
3
.4
.3
*
745
535
706
421
285
*
- .2
*
-.1
.1
-.3
- .1
.1
-.3
-.3
*
-.5
-.7
-.3
-.5
- .2 43
- . 6 44
.1
.2
.2
.4 45
*
«
*
*
*
*
*
*
*
*
*
.1
.1
*
*
.1
.1
* 46
* 47
* 48
1.000
0
43
44
45
MUTUAL SAVINGS BANKS
TREASURY ISSUES
AGENCY ISSUES
757
420
337
1.430
769
661
46
47
48
CREDIT UNIONS
TREASURY ISSUES
AGENCY ISSUES
841
499
342
785
422
363
101
-7
108
156
-5
161
49
50
51
LIFE INSURANCE
TREASURY ISSUES
AGENCY ISSUES
22
112
167
-145
91
176
115
61
1.028
947
81
.1
.1
21
-.4
-.4
*
-.3
-.3
*
-.4
-.5
*
-.4
-.4
*
-.3
-.3
*
- . 1 49
- . 2 50
.2 51
52
53
54
PRIVATE PENSION FUNDS
TREASURY ISSUES
AGENCY ISSUES
935
685
250
1.478
1.557
-79
1.460
1.091
369
1.498
993
505
.2
.2
.4
.3
*
.1
*
*
♦
-.5
-.5
♦
-.6
.4 52
.4 53
.1 54
55
56
57
S. «■ L. GOVT., R T R . FUNDS
TREASURY ISSUES
AGENCY ISSUES
455
138
317
660
706
-46
174
272
-98
395
85
310
.4
.3
.4
.4
*
.6
.1
.2
.1
.1
.2
58
59
60
OTHER INSURANCE COMPANIES
TREASURY ISSUES
AGENCY ISSUES
90
310
90
339
-249
415
486
-71
415
405
.1
.1
.2
.2
.1
-220
61
INVESTMENT COS. (TREAS.)
SECURITY BROKERS ♦
DEALERS (TREAS.)
62
210
10
*
*
*
*
.1
.5
*
*
.1
*
-.2
.2
.1
*
-.4
-.5
.1
-.4
- .1
- .8
.4 55
- 1.0
- .2 56
.6 57
-.7
-.7
*
- .2 58
.1
-.4 59
. 1 60
-233
163
974
-88
*
*
*
*
.6
-.5
.2 61
707
-650
-309
148
.7
-1.3
.7
-.3
.7
-.8
.8 62
(1) WHERE NOT SHOWN SEPARATELY, LOAN PARTICIPATIONS ARE INCLUDEO WITH
AGENCY ISSUES.
(2) THESE ISSUES ARE OUTSIDE THE BUDGET AND OUTSIDE THE U.S. GOVERNMENT
SECTOR IN FLOW OF FUNDS ACCOUNTS.
THEY ARE INCLUDED IN CRE D I T MARKET
DEBT OF FINANCIAL INSTITUTIONS.
SPONSORED AGENCY ISSUES INCLUDE
GNMA-GUARANTEED S ECURITIES BACKED BY MORTGAGE POOLS.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
*
10 FEBRUARY 1976
U.S. GOVT. SECURITIES
U.S. GOVT. SECURITIES
31
GO V ERNMENT SECURITIES M ARKET SUMMARY
(BILLIONS OF DOLLARS)
SE A SONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS AOJ i ANN
I
II
III
1969
1970
1971
1972
1973
1974
1975
1
2
3
4
5.5
-1.3
-.4
-.9
21.1
12.9
.3
12.6
29.4
26.0
2.4
23.6
23.6
13.9
3.3
10.6
29. 4
7.7
2.7
5.0
33.5
12.0
3.0
9.0
95.4
85.8
4.0
81.8
81.4
73.9
4.1
69.8
102.2
96.3
4.0
92.3
101.
94.
4.
90.
5
6
7
8
6.8
-.4
-1.9
9.1
8.2
.3
-.3
8.2
3.4
.6
-1.1
3.8
9.7
2.0
1.5
6.2
21.6
.7
1.3
19.6
21.5
.1
-.1
21.4
9.5
-.3
-.3
10.1
7.5
- 1.2
"*•8
9.4
5.9
-.1
-.4
6.5
7.
7l
9
10
11
12
13
14
5.5
-1. 3
-.4
-. 7
.3
4.2
21.1
-.1
1.9
2.0
-.2
5.0
29.4
*
-1.2
-1.1
-.1
8.7
23.6
*
-.4
-.3
-.1
.4
29.4
*
1.3
1.4
*
9.3
33.5
*
-.2
-.2
95.4
•
1.0
1.0
81.4
*
11.4
11.4
102.2
101.
-1.3
-1.3
-6.
-6.
5.2
8.4
8.9
6.3
19.
15
16
17
-1.8
- 2.2
.4
9.1
7.8
1.3
26.3
13.9
12.4
8.4
1.3
7.2
.3
- 5.7
6.1
3.6
7.6
-4.0
7.8
6.5
1.3
25.4
12.7
12.7
6.0
8.5
-2.6
-8.
-3.
-4.
8.0
8.2
-.2
18
4.8
5.2
-4.4
15.2
18.4
24.9
78.1
35.7
91.2
97.
88.0
TOTAL PRIVATE DOMESTIC
19
20
21
22
17.0
-.4
10.7
6.7
-9.0
.3
-11.4
2.1
- 14.0
2.4
- 11.0
-5.4
1.6
3.3
-1.7
.1
18.8
2.7
4.7
11.4
18.1
3.0
3.7
11.4
21.1
4.0
17.6
-.6
-16.9
4.1
-13.8
-7.3
7.6
4.0
6.4
-2.8
34.
4.
32.
-2.
59.6
3.8
45.2
PRIVATE DOMESTIC NONFINAN.
SAVINGS BONDS (HH)
TREAS. EXCL. SVGS. BONDS
AGENCY ISSUES
23
24
25
26
12.8
-.4
10.5
2.8
-9.7
.3
-12.7
2.8
- 1 4.4
2.4
-11.8
-5.0
.6
3.3
-2.6
--1
20.4
2.7
6.5
11.1
14.5
3.0
.8
10.8
-.9
4.0
-2.2
-2.7
-27.3
4.1
-20.7
-10.8
-17.5
4.0
-19.5
-2.0
18.
4.
17.
-3.
22.8
27
28
29
-2. 3
-2.8
.5
.5
.4
.1
2.2
2.1
.1
-2.4
- 3.2
.7
-1.8
-3.0
1.2
3.5
3.6
*
16.1
14.8
1.3
1.3
.9
.4
29.1
26.6
2.5
6.
6.
27.4
25.4
30
31
32
6.4
3.1
3.4
.2
.9
-.8
-1.8
-1.3
-.5
3.4
4 .0
-.6
.2
1.2
-1.0
.1
-.6
.7
5.8
5.0
.8
9.1
6.0
3.1
-3.9
-.7
-3.2
33
34
35
-10.0
-9.7
-.3
10.4
6.9
3.5
6.9
3.1
3.8
6.5
2.4
4.1
- 1.3
-8.8
7.6
1.0
-2.6
3.6
30.3
29.1
1.2
23.0
20.6
2.5
36
37
38
-2.2
-3.9
1.7
3.8
1.1
2.7
2.6
-1.7
4.3
7.1
2.3
4.8
.9
-1.1
2.0
5.7
2.5
3.2
26.8
18.8
8.0
39
40
41
42
-2.2
.3
-1.0
1.3
3.8
1.2
-.4
1.5
2.6
5.2
1.4
3.9
7.1
4.3
.9
3.4
.9
*
-1.0
1.0
5.7
3.3
2.2
1.1
43
44
45
-.5
-.6
.1
.3
-.2
.5
.9
.1
.8
1.4
.3
1.1
-.5
-.6
.1
46
47
48
-.2
-.1
-.1
.4
.3
.1
.8
.3
.5
.8
.4
.4
49
50
51
-.3
-.3
*
.1
-.1
.1
-.2
-.2
.1
52
53
54
-.2
-.4
.2
.2
-.1
.3
55
56
57
-.3
-.5
.2
58
59
60
-.5
-.5
*
61
-.5
.2
62
*
1.7
—
_
_
96.1 TOTAL NET ISSUES
79.0
TREASURY ISSUES
3.8
HOUSEHOLD SAVINGS BONOS
75.1
TREAS. EXCL. SAVINGS BONDS
17.1
.1
17.1
OTHER
BUDGET AGENCY ISSUES
LOAN PARTICIPATIONS (1)
SPONS. AGENCY ISSUES 12)
96.1 NET ACQUISITIONS, BY SECTOR
U.S. GOVT. (AGENCY SEC.)
.7
SPONSORED CREDIT AGENCIES
.7
TREASURY MARKETABLE
FHLB SPECIAL ISSUE
- .6
FEDERAL RESERVE SYSTEM
10.6
3.8
13.4
5.6
FOREIGN
SHORT-TERM MARKETABLE
OTHER
13
14
15
16
17
19
20
21
22
PVT. DOM. NONFlN.t BY SEC.
HOUSEHOLDS
23
SAVINGS BONDS
24
TREAS. EXCL. SVGS. BONDS 25
AGENCY ISSUES
26
2.0
N ONFIN. CORPORATE BUSINESS
TREASURY ISSUES
AGENCY ISSUES
27
28
29
8.
8.
9.3
6.4
3.0
STATE ♦ LOCAL GOVERNMENTS
TREASURY ISSUES
AGENCY ISSUES
30
31
32
50.8
48.3
2.4
37.
37.
9.8
10.4
-.5
COMMERCIAL BANKING
TREASURY ISSUES
AGENCY ISSUES
33
34
35
29.6
18.3
11.3
32.8
25.3
7.5
26.
18.
7.
18.6
13.0
5.6
PRIVATE NONBANK. FINANCE
TREASURY ISSUES
AGENCY ISSUES
36
37
38
26.8
11.1
6.6
4.5
29.6
17.0
9.0
8.0
32.8
15.3
10.4
4.9
26.i
10.
5.
5.i
18.6
1.7
1.7
PVT. NONBANK FIN., BY SECTOR 39
SAVINGS ♦ LOAN ASSNS.
40
TREASURY ISSUES
41
AGENCY ISSUES
42
.1
-.3
.4
3.6
2.1
1.5
2.1
1.0
1.2
5.6
3.0
2.5
3.
2.'
l.<
2.9
.2
.2
*
.2
.1
.1
1.9
.9
1.0
3.4
2.0
1.4
3.1
1.7
1.5
.3
.3
*
.1
-.2
.2
*
-.3
.2
1.3
1.3
*
-.2
.4
-.6
.7
.6
.1
.<
-.3
*
-.3
1.0
.9
.1
.6
.1
.5
1.1
-.1
1.3
5.4
4.3
1.0
3.0
2.0
1.0
6.9
7.2
-.3
5.<
4.:
1.!
-.3
-.3
*
-1.6
-1.2
-.3
-.6
-.5
-.1
.1
-.1
.2
.6
.7
-.1
1.7
1.2
.5
1.8
.6
1.3
2.6
2.8
-.2
1 .:
.1
-.1
.1
-.4
-.2
-.2
-.4
-.3
-.1
-.1
-.1
*
.3
*
.3
1.0
1.5
-.5
.6
1.5
-.9
.6
1.6
-1.0
l.i
i.‘
-.3
.1
.5
*
.8
-.9
.7
3.<
-1.6
.2
*
.2
-.1
2.8
-2.6
- 1 .;
MUTUAL SAVINGS BANKS
TREASURY ISSUES
AGENCY ISSUES
43
44
45
.6
CREDIT UNIONS
TREASURY ISSUES
AGENCY ISSUES
47
48
4.3
3.9
.3
LIFE INSURANCE
TREASURY ISSUES
AGENCY ISSUES
49
50
51
6 .0
PRIVATE PENSION FUNDS
TREASURY ISSUES
AGENCY ISSUES
52
53
54
S. ♦ L. GOVT., R T R . FUNDS
TREASURY ISSUES
AGENCY ISSUES
55
56
57
OTHER INSURANCE COMPANIES
TREASURY ISSUES
AGENCY ISSUES
58
59
60
INVESTMENT COS. (TREAS.)
SECURITY BROKERS *
D EALERS (TREAS.)
61
1 .6
1.3
.6
*
4.0
2.0
1.3
1 .2
(1) WHERE NOT SHOWN SEPARATELY, LOAN PARTICIPATIONS ARE INCLUDED WITH
AGENCY ISSUES.
(2) THESE ISSUES ARE OUTSIDE THE BUDGET AND OUTSIDE THE U.S. GOVERNMENT
SECTOR IN FLOW OF FUNDS ACCOUNTS.
THEY ARE INCLUDED IN CREDIT M A RKET
DEBT OF FINANCIAL INSTITUTIONS.
SPONSORED A GENCY ISSUES INCLUOE
G N MA-GUARANTEED SECURITIES B ACKED BY MORTGAGE POOLS.
IV/75 BA S E D ON INCOMPLETE AND PRELIMINARY INFORMATION.
9
10
11
12
46
62
10 FEBRUARY 1976
PRIVATE SECURITIES AND MORTGAGES
PRIVATE SECURITIES AND MORTGAGES
32
PRIVATE SECURITIES AND MORTGAGES
UNADJUSTED NET FLOWS
UNAD J U S T E D NE T FLOWS
1975 U N A DJUSTED NET FLOWS C$ M I L L . )
IV
I
II
III
1962
1963
Y EAR TOTALS (S BILL.I
1966
1964
1965
1967
1968
STATE AND LOCAL GOVERNMENT SECURITIES
1 NE T CHANGE IN LIABILITIES
2
STATE ♦ LOCAL GOVER N M E N T S
3
SHORT-TERM
4
OTHER
5
NONFIN. CORPORATE BUSINESS
(POLLUTION CONTROL)
3.631
3.201
107
3.094
430
4.989
4.178
669
3.509
811
3.815
3.214
-2.311
5.525
601
2.952
2.211
-520
2.731
741
5.4
5.4
•
5.4
-
5.7
5.7
.4
5.3
-
6.0
6.0
.8
5.2
-
7.3
7.3
.6
6.7
-
5.6
5.6
.7
5.0
-
7.8
7.8
1.8
5.9
-
9.5
9.5
.1
9.4
-
1
2
i
4
5
6 NET CHANGE IN ASSETS
7
H OUSEHOLDS
8
NONFIN. CORPORATE BUSINESS
9
S. ♦ L. GOVT., GEN. FUNDS
3.631
3.289
390
-19
4.989
2.407
-44
-203
3.815
2.466
-300
103
2.952
1.888
-219
6
5.4
-1.0
.3
-.2
5.7
1.0
1.1
-.2
6.0
2.6
-.1
-.1
7.3
1.7
.9
-.1
5.6
3.6
-1.0
♦
7.8
-2.2
-.3
~
9.5
-.8
.5
*
6
7
8
9
-614
165
20
39
534
-173
1.771
145
75
191
606
41
-20
255
360
439
498
14
168
80
103
443
439
44
5.7
-.2
.1
-.5
.8
.2
3.9
-.1
-.2
-.5
.7
•
3.6
*
-.1
-.4
.4
.2
5.2
-.1
-.3
-.3
.4
-.2
2.3
-.1
-.4
-.1
1.3
*
9.1
♦
-.1
-.1
1.4
*
8.6
*
.2
*
1.0
*
10
11
12
13
14
15
8.6
5.4
.8
1.9
.5
11.8
10.2
.1
.8
.7
17.2
14.7
.3
1.0
1.2
15 .0
12.9
.3
.8
1.1
1
2
3
4
5
6
15.0
7
4.6
8
.3 9
1.3 10
10
11
12
13
14
15
COMMERCIAL BANKING
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
S. ♦ L. GOVT.* RTR. FUNOS
OT H E R INSURANCE COMPANIES
BROKERS ♦ DEALERS
CORPORATE AND FOREIGN BONDS
1 NE T ISSUES
2
NONFIN. CORPORATE BUSINESS
3
COMMERCIAL BANKS
4
FINANCE COMPANIES
5
REITS
6
REST OF THE WORLD
7 N E T PURCHASES
8
HOUSEHOLDS
9
COMMERCIAL BANKING
10
MUTUAL SAVINGS BANKS
11
12
13
14
15
16
17
18
INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S. ♦ L. GOVT., RTR. FUNOS
OTHER INSURANCE COMPANIES
OPEN-END INVESTMENT COS.
BROKERS ♦ DEALERS
REST OF THE WORLD
11.650
9.430
10
243
4
1.963
9.506
8.272
47
171
28
988
4.915
3.677
46
180
16
996
8.427
5.660
14
550
8
2.195
5.9
4.6
.3
1.0
6.6
3.9
.2
1.4
1.0
7.1
4.0
.5
2.1
.5
11.650
3.690
631
1.221
9.506
1.902
620
1.388
4.915
2.282
384
347
8.427
-275
419
354
5.9
♦
«
-.1
6.6
«
*
-.3
7.1
.2
.1
-.2
8.6
1.0
-.1
-.1
11.8
2.0
.1
.3
17-2
4.6
.8
2.1
5.851
2.345
1.340
1.400
766
814
-787
230
5.493
1.761
-201
2.889
1.044
103
162
-162
3.883
1.830
371
890
792
-122
-1.759
-100
5.482
2.171
386
2.132
793
13
2.494
-60
5.9
2.5
1.2
1.8
.3
*
.1
*
6.4
2.8
1.5
2.1
*
.2
.3
.1
6.4
2.3
1.6
2.2
.3
.4
*
.2
7.2
2.8
1.5
2.3
.6
.4
.3
-.1
8.4
2.4
2.5
2.9
.6
.4
.1
.6
9.4
3.8
1.1
3.7
.7
«
.4
-.1
8.3
3.9
.6
2.6
1.2
.4
-.2
.2
11
12
13
14
15
16
17
18
-
CORPORATE EQUITIES
1 NET ISSUES
OPEN-END INVESTMENT COS.
2
3
OTHER SECTORS
4
NONFIN. CORPORATE BUSINESS
5
COMMERCIAL BANKS
6
OTHER INSURANCE COMPANIES
7
REITS
8
RES T OF THE WORLD
9 NET PURCHASES
10
HOUSEHOLDS
11
COMMERCIAL BANKING
12
MUTUAL SAVINGS BANKS
13
INSURANCE
14
LIFE INSURANCE C O M PANIES
15
PRIVATE PENSION FUNDS
16
S. ♦ L. G O V T ., RTR. FUNDS
17
OTHER INSURANCE COMPANIES
18
OPEN-ENO INVESTMENT COS.
19
BROKERS + DEALERS
20
REST OF THE WORLD
3.604
1.874
1.730
1.933
250
200
-711’
. 58
2.669
-520
3.189
3.223
250
175
-472
13
2.442
399
2.043
1.713
250
175
-93
-2
2.752
-247
2.999
2.650
250
175
-76
0
2.3
1.7
.6
.4
.1
.1
—
*
1.6
1.5
.1
-.3
.1
.3
.1
3.6
2.0
1.5
1.1
*
.1
—
.2
3.6
3.3
.3
•
-.1
.1
—
.3
4.8
3.7
1.1
1.3
*
.1
-.3
5.6
3.0
2.5
2.4
*
.1
—
.1
6.5
5.9
•6
-.2
-.1
.2
.4
.2
1
2
3
4
5
6
7
8
3.604
1.204
0
61
2.154
489
1.305
506
-146
12
-788
961
2.669
-588
0
82
2.458
630
1.650
623
-445
-340
162
895
2.442
1.217
0
6
2.069
432
1.085
672
-120
-378
-1.760
1.288
2.752
-2.820
0
44
2.354
450
1.200
804
-100
-321
2.495
1.000
2.3
-2.1
*
.1
3.1
.4
2.2
.2
.2
.9
.1
.1
1.6
-2.6
*
.1
2.8
.2
2.2
.2
.2
.8
.3
.2
3.6
-.3
*
.1
3.1
.5
2.2
.3
.1
.8
*
-.3
3.6
-2.1
.1
.2
4.3
.7
3.1
.4
.1
1.3
.3
-.4
4.8
-.9
.1
*
4.8
.3
3.7
.5
.4
1.0
.1
-.3
5.6
-4.2
.1
.2
6.6
1.0
4.6
.7
.3
1.9
.4
.7
6.5
-6.4
.1
.3
8.1
1.4
4.7
1.3
.8
2.5.
-.2
2.1
9
10
11
12
13
14
15
16
17
18
19
20
1
TOTAL MORTGAGES
1 NET CHANGE IN MORTGAGES
BORROWED BY:
U.S. GOVERNMENT
SAVINGS «■ LOAN ASSOCIATIONS
REITS
PRIVATE NONFINANCIAL SECTORS
HOUSEHOLDS
N O N PROFIT INSTITUTIONS
NONFINANCIAL BUSINESS
FARMS
N ONFARM NONCORPORATE
CORPORATE
8.556
15.632
15.554
14.907
22.4
25.6
25.9
25.6
21.3
23.0
27.4
-5
31
87
8.443
8.091
338
14
1.242
-955
-273
47
1.171
116
14.298
8.363
336
5.599
1.396
1.425
2.778
-104
682
83
14.893
7.279
334
7.280
1.018
2.656
3.606
-36
57
65
14.821
9.923
332
4.566
844
1.291
2.431
.3
.4
.1
.5
*
-.3
*
*
-.1
-.9
21.7
12.7
1.0
8.0
1.3
2.2
4.5
25.1
14.8
1.0
9.3
1.6
2.8
4.9
26.1
16.0
1.0
9.1
2.1
3.4
3.6
25.6
15.2
1.2
9.2
2.2
3.1
3.9
22.3
12.7
1.3
8.4
1.8
2.4
4.2
-.1
1.0
22.0
10.4
1.2
10.5
2.3
3.7
4.5
2
-.1
.2 3
.2 4
27.1
5
14.6
6
1.1
7
11.3
8
9
2.2
3.4 10
5.7 11
12
13
14
15
16
FUNDS A DVANCEO BY:
HOUSEHOLDS
U.S. GOVERNMENT
S. ♦ L. GOVT., GEN. FUNDS
SPONSORED CREDIT AG. (1) (2)
8.556
-223
2.118
1
2.745
15.632
486
1.285
2
3.581
15.554
154
2.030
2
3.162
14.907
533
1.877
3
3.404
22.4
1.0
.1
.1
.2
25.6
.3
-.4
.1
-.5
25.9
.3
-.1
*
.3
25.6
-.8
-.1
*
1.1
21.3
1.3
.8
♦
2.6
23.0
.9
.9
*
1.8
27.4
1.5
1.1
.1
2.2
12
13
?_4
15
16
17
18
19
20
21
22
PRIVATE FINAN. INSTITUTIONS
COMMERCIAL BANKING
SAVINGS INSTITUTIONS
S+L ASSOCIATIONS (1)
MUTUAL SAVINGS BANKS
CREDIT UNIONS
3.915
-202
3.381
3.136
237
8
10.278
1.109
9.543
8.894
639
10
10 .206
1.013
9.909
9.264
633
12
9.090
1.100
8.744
8.104
626
14
21.0
4.0
13.2
9.9
3.2
*
26.2
4.9
16.1
12.2
3.9
*
25.3
4.6
14.8
10.4
4.3
*
25.4
5.7
13.1
9.0
4.1
*
16.6
4.7
6.5
3.8
2.7
.1
19.3
4.6
10.7
7.5
3.2
*
22.5
6.7
12.2
9.4
2.8
*
17
18
19
20
21
22
944
929
40
-29
4
-60
-148
919
848
-28
77
22
-330
-963
478
410
-34
96
6
-450
-744
670
637
-70
103
0
-700
-724
3.3
2.7
.3
.3
*
.5
4.3
3.6
.3
.4
*
.8
5.6
4.6
.5
.5
*
.4
6.1
4.9
.6
.7
*
.5
6.0
4.6
.6
.8
*
-.6
3.6
2.9
.2
.5
*
.4
“
2.8
2.5
*
.4
*
.6
.2
23
24
25
26
27
28
29
•8
1.3
.5
.7
.9
-2.5
2
3
4
5
6
7
8
9
10
11
23
24
25
26
27
28
29
INSURANCE
LIFE COMPANIES
PRIVATE PENSION FUNDS
S. ♦ L. GOVT., RTR. FUND
OTHER INSURANCE COS.
FINANCE COMPANIES
REITS
403
-1.361
679
30 (1) MEMO: FHLB LOANS TO S+L
-3.640
ASSOCIATIONS (INCLUDED IN "OTHER LOANS- CATEGORY).
(2) INCLUDES MORTGAGE POOLS BACKING G NMA-GUARANTEED PASS-THROUGH SECURITIES.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
-
-
-
-
—
.9 30
10 FEBRUARY 1976
PRIVATE SECURITIES AND MORTGAGES
PRIVATE SECURITIES AND MORTGAGES
33
PRIVATE SECURITIES ANO MORTGAGES
S EASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
(BILLIONS OF DOLLARS)
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
STATE AND LOCAL GOVERNMENT SECURITIES
1
2
9.9
9.9
3
4
5
2.8
6
7.2
8
9.9
9.6
- 1 .0
9
.1
7
11
12
13
14
15
-2
*
*
“ •!
I*2
~*2
1 1 .2
1 1 .2
17.6
17.5
2.5
15.0
13.7
11.9
.1
14.4
13.8
-.7
14.5
.5
1 1 .2
- .8
-.6
.2
17.6
14.4
13.7
4.3
-.3
1 .0
1 .0
.2
10.7
*
.1
“ *3
I*5
12.6
.2
.1
-1
3.9
7.2
.5
*
--1
*-8
2.3
8.9
•6
-.2
1.0
.1
- .1
- .2
12 .2
1 .8
17.4
15.7
2.9
12.9
15.4
12 .8
- 2 .1
14.9
1 .6
2.6
15.4
17.4
- .1
.2
10.0
.6
.2
10 .1
- .2
- .1
5.7
*
*
5.5
*
.2
1.3
- .6
-.6
3-9
.2
1.8
-.4
1.1
2.1
.6
.6
- .1
14.0
12.3
2 0 .1
13.1
1.7
16.9
3.4
13.5
3.2
14.0
20 .1
- .8
12 .6
1 .6
- .1
9.8
- .2
-.8
7.1
14.5
1 2 .1
12 .8 NET CHANGE IN LIABILITIES
-9.9
9.9
-.9
22.0
10 .8
2.4
3.0
14.5
9.2
- 1 .2
.4
STATE * LOCAL GOVERNMENTS
SHORT-TERM
OTHER
NONFIN. CORPORATE BUSINESS
(POLLUTION CONTROL)
12 .8 NET CHANGE IN ASSETS
8.5
-.9
«
H OUSEHOLDS
NONFIN. CORPORATE BUSINESS
S. ♦ L. GOVT., GEN. FUNDS
.7
.3
.5
1.8
1.8
.2
COMMERCIAL BANKING
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
S. ♦ L. GOVT., R T R . FUNDS
OTHER INSURANCE COMPANIES
BROKERS ♦ DEALERS
-2.5
.7
.2
.2
2.1
-.7
2.4
.2
-.1
1.0
1.3
1.8
2.0
.1
49.4
40.1
**
1.4
1.4
**
7.9
36.1
30.5
.2
.2
1.4
1.4
.1
.1
4.0
19.5
14.6
.2
.2
.7
.7
..1
1
4.0
32.9 NET ISSUES
27.0 40.1 CORPORATE
30.5 BUSINESS
14.6
23.0
NONFIN.
COMMERCIAL BANKS
BANKS
COMMERCIAL
..1
1
FINANCE COMPANIES
COMPANIES
1l.l
.1
FINANCE
**
REITS
REITS
6.1 OF THE WORLD
8.8
REST
49.4
2.5
4.9
4.9
36.1
5.6
2.5
5.6
5.6
19.5
7.3
1.5
1.4
1.4
32.9 NET34.5
PURCHASES
7.6
4.7
HOUSEHOLDS
2.5
2.5
1.5
1.7
C2.1
OMMERCIAL
BANKING
1.4 MUTUAL
1.4
MUTUAL SAVINGS
SAVINGS BANKS
BANKS
22.6
22.6
222.1
2 .1
8.5
8.5
5.4
5.4
5.6
5.6
3.1
3.1
3.3
3.3
2.4
2.4
.9
.9
7.1
7-1
16.8
21.4 INSURANCE
16
.8
21.4
INSURANCE
.6 8.2 8.2 LIFE LIFE
INSURANCE
COMPANIES
88.6
INSURANCE
COMPANIES
.6
.3
.8
10
11
12
13
14
15
CORPORATE AND FOREIGN BONDS
14.5
12.0
“ •2
I *6
•1
1.0
23.8
19.8
.1
2.5
-5
.9
24.8
18.8
.9
3.8
.4
.9
20.2
12.2
1.1
5.4
.4
1.0
12.5
9.2
*
1.8
23.3
19.7
.2
1.1
1.0
2.2
14.5
23.8
10.7
24.8
9.3
1.3
3.9
20.2
5.2
1.7
2^.1
12.5
1.1
.5
-1.1
23.3
-1.7
1.1
1.0
9.3
5.5
-. 7
4.2
.3
10.8
7.0
12.4
5.9
1.6
5.9
-1.0
-.9
.4
.1
22.4
5.4
4.7
8 .4
3.8
-.4
-.4
1.3
6 .6
“ •1
•3
11
12
13
1*
15
16
17
18
6.5
1-5
-6
3.6
«8
*2
.5
1-2
9 . fc
1.5
2.1
3.8
2.3
.7
*1
.7
.6
•2
.3
- .8
5.3
-*.7
.2
.1
.1
.6
.2
34.5
.1
1.1
.1
12 .8
3.3
20.7
8.1
1.9
7.3
3.4
.8
.1
-.1
-.8
- .8
111.6
1 .6
4.2
4.2
.4
.4
.7
.7
--. .66
1.51.5
1.5
3.6 8.5
3.6
3.2 3.2
3.2
-.5
-.5
.6
--66.6
-.4
-.4
1
23.0
3
4
5
1.7
10
PENSION
FUNDS FUNDS
1.5 PRIVATE
PRIVATE
PENSION
L. ♦GOVT.,
RTR. RTR.
FUNDSFUNDS
8.5 S. ♦ S.
L. GOVT.,
INSURANCE
COMPANIES
3.2 OTHEROTHER
INSURANCE
COMPANIES
OPEN-END
. .1
1
OPEN-END INVESTMENT
INVESTMENT COS.
COS.
4.0 BROKERS
4.0
BROKERS ♦♦ DEALERS
DEALERS
REST
--.2
.2
REST OF
OF THE
THE WORLD
WORLD
11
12
13
14
15
16
17
18
CORPORATE EQUITIES
1
2
3
4
5
6
10 .1
4.9
5.2
3.4
*
.5
10.5
2.8
7.7
5.7
.1
.4
1.4
7
8
.8
.5
.1
9
10 .1
10
11
12
- 3.7
*
10.5
- 1 .6
13
14
15
16
17
18
19
9.9
1.7
5.4
20
.2
1.8
1.0
1.7
.4
1 .6
.1
.3
9.7
2.0
4.6
2 .1
1.0
1 .2
.1
.7
14.9
1.3
13.6
11.4
13.1
-.5
13.6
10.9
.9
*
.5
1.5
t .4
.6
.6
14.9
-5.2
*
.5
18.2
3.6
8.9
3.2
2.5
.4
.2
.8
1 .2
13.1
-5.2
.1
.6
17.0
3.5
7.1
3.5
3.0
- 1 .8
.1
2.3
8.0
5.6
11.5
1.5
- 1 .6
9.6
7.4
4.6
4.1
10.0
1 .2
1 .0
1.0
.5
.7
.4
1.0
9.5
13.7
6.8
11.3
-1.4
10.4
6.9
7.7
12 .8
2.2
8.2
12.9
6.9
.7
-1.9
.7
-.4
*
- .2
-.3
.1
1.0
.8
- 2.8
.2
8.0
- 8 .2
.1
5.6
11.5
- 1.0
-
13.7
-1.5
-
.2
.2
6.7
2.3
2.3
3.5
-1.4
-.5
-.4
.5
9.0
.2
8 .6
2.0
.4
14.9
3.6
5.3
3.9
2 .2
-2.3
.4
2.8
.7
-1.4
- .6
- 1.0
-
2.0
5.2
2.6
- .8
— 1 .0
.1
4.1
1 .0
.1
11.3
-1.7
.3
9.8
2.5
1.0
5.2
6 .6
2.0
-.6
*
2.4
3.8
2.5
- 1.8
-1.4
.7
3.6
10.4
5.1
*
8.3
1.7
4.3
2.7
-.5
-1.5
- 6 .6
5.2
10.4 NET ISSUES
- 1 .6
OPEN-END INVESTMENT COS.
12 .0
OTHER SECTORS
10 .6
NONFIN. CORPORATE BUSINESS
1.0
COMMERCIAL BANKS
.7
OTHER INSURANCE COMPANIES
-.3
REITS
REST OF THE WORLD
“
10.4 NET PURCHASES
-5.8
HOUSEHOLDS
COMMERCIAL BANKING
.2
MUTUAL SAVINGS BANKS
9.4
INSURANCE
1.8
LIFE INSURANCE COMPANIES
4.8
PRIVATE PENSION FUNDS
3.2
S. ♦ L. GOVT., RTR. FUNDS
-.4
OTHER INSURANCE COMPANIES
-1.3
OPEN-END INVESTMENT COS.
4.0
BROKERS ♦ DEALERS
4.0
REST OF THE WORLD
62.4 NET CHANGE IN MORTGAGES
BORROWED BY:
U.S. GOVERNMENT
- .1
1.3
SAVINGS ♦ LOAN ASSOCIATIONS
.3
REITS
61.0
PRIVATE NONFINANCIAL SECTORS
38.5
HOUSEHOLDS
1.3
NONPROFIT INSTITUTIONS
2 1 .1
NONFINANCIAL BUSINESS
4.3
FARMS
6.4
NONFARM NONCORPORATE
10.4
CORPORATE
TOTAL MORTGAGES
1
27.8
26.4
48.9
68.8
71.9
54.5
54.6
45.4
56.0
54.7
2
- .1
-.1
.6
.1
- .1
2.0
.1
- .1
1 .2
- .1
- .1
-.1
-1.5
25.7
12.5
1.4
11.9
46.9
24.2
10
11
1.8
2.0
8.0
10.9
1.9
.4
52.5
33.7
1.3
17.5
4.5
4.4
8.5
.2
27.7
16. 1
1.3
10.3
1.9
3.8
4.6
*
.9
.3
44.2
30.2
1.4
2.3
.5
53.0
34.7
1.3
17.0
4.9
3.2
8.9
-.4
3.2
.3
51.6
31.2
1.3
19.1
4.0
5.8
9.3
12
54.5
54.6
13
14
15
16
1 1 .6
56.0
1.5
5.0
*
14.5
54.7
.7
7.8
*
11.7
25.1
35.0
3
4
5
6
7
8
9
17
18
19
*
.2
21.5
.5
67.3
38.4
1.4
27.4
4.9
5.2
11.4
9.2
15.6
27.8
26.4
48.9
68.8
1 .1
.1
.2
4.5
.3
*
5.8
*
*
6.3
- 1 .8
.7
2 1 .6
20 .1
42.3
9.9
28.0
23.9
4.0
*
- .1
5.4
2.5
12 .2
1 2 .1
10 .2
1.8
.1
1 .2
2 .6
- .2
1.0
61.6
19.8
32.6
26.9
5.7
“
36.9
12.5
19.7
17.6
33.5
3.0
31.6
29.4
2 .1
2 .1
3.4
3.9
-.3
*
1.4
4.5
5.4
5.1
*
.3
*
-1.7
.9
7.2
6.7
*
.3
.9
.1
2 .1
2.5
30
4.0
1.3
-2.7
*
.3
*
.8
1.8
64.2
16.8
37.7
31.9
5.6
-.7
-.3
*
4.1
4.9
1 .1
6 .1
15.0
2.8
2 .1
.1
.6
*
4.9
*
10.4
23
24
25
26
27
28
29
.8
1 .1
- .6
- .6
22.0
*
6.7
9.5
2.7
*
.1
.8
71.9
.5
.2
55.9
32.6
1.4
7.3
*
12.9
20
21
22
3.3
2.3
- 1.5
.3
73.2
44.2
1.4
27.6
4.4
7.1
16.1
.2
.8
1 .8
- .1
*
*
3.0
2.8
-.1
.2
*
-1.5
- 2 .6
4.8
2.3
5.5
45.4
-.4
9.2
*
34.6
62.4
2 .1
7.3
♦
13.9
39.2
2 .1
2 .6
1 .2
6.2
18.6
17.6
.9
*
33.6
31.0
35.8
33.3
2.5
*
38.3
35.7
2.5
2.6
*
4.6
4.5
5.0
4.7
.2
- .1
- .1
*
.4
- .6
.3
.1
-2.3
-3.9
2.3
2.0
- .1
.4
*
-1.7
-3.0
.1
.2
.1
-.3
.4
-
- 2 .6
-2.9
FUNDS ADVANCED BY:
H OUSEHOLDS
U.S. GOVERNMENT
S. ♦ L . GOVT., GEN. FUNDS
SPONSORED CREDIT AG. (1) (2)
PRIVATE FINAN. INSTITUTIONS
C OMMERCIAL BANKING
SAVINGS INSTITUTIONS
S+L ASSOCIATIONS (1)
MUTUAL SAVINGS BANKS
CREDIT UNIONS
INSURANCE
LIFE COMPANIES
PRIVATE PENSION FUNDS
S. ♦ L. GOVT., RTR. FUND
OTHER INSURANCE COS.
FINANCE COMPANIES
REITS
-3.9
-10.5
-5.7
.7 (1) MEMO: FHLB LOANS TO S+L
- .2
ASSOCIATIONS (INCLUDED IN -OTHER LOANS" CATEGORY).
(2) INCLUDES MORTGAGE POOLS BACKING G N M A -GUARANTEED PASS-THROUGH SECURITIES.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
12 .6
17
18
19
20
21
22
23
24
25
26
27
28
29
NONFIN. CORPORATE BUSI
COMMERCIAL BANKING
10 FEBRUARY 1976
M O R T G A G E S » BY TYPE
MORTGAGES, BY TYPE
34
MORTGAGE MARKETS BY TYPE OF MORTGAGE
U NADJUSTED NET FLOWS
U N A DJUSTED NET FLOWS
1975 UNADJUSTED NET FLOWS
I
II
III
($ MILL.)
IV
1962
1963
YEAR TOTALS it BILL.)
1964
1966
1965
1967
1968
12.4
10.4
15.2
14.6
.6
•6
- .1
1.0
1
2
.2
.2
-.1
.2
3
4
5
10.7
.7
12.4
7
.6
15.2
.5
.7
*
8.7
7.2
1.4
*
13
14
15
16
HOME MORTGAGES
1 NET BORROWING
HOUSEHOLDS
2
5.293
8.091
-1.412
-1.412
-5
31
11.061
8.363
740
740
47
1.171
11.159
7.279
1.651
1.651
-104
682
10.258
9.923
157
157
-36
57
13.5
12.7
*
*
.3
.4
15.7
14.8
7 NE T CHANGE IN ASSETS
HOUSEHOLDS
8
9
U.S. GOVERNMENT
10
STATE ♦ LOCAL GOVERNMENTS
SPONS. CRED I T AGENCIES il)
11
C OMMERCIAL BANKING
12
5.293
-25
1.382
11.061
72
1.123
11.159
29
1.258
10.258
13.5
15.7
*
-. 4
1.678
-62
2.658
660
2.515
623
13
14
15
16
SAVINGS INSTITUTIONS
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
CREDIT UNIONS
2.690
2.535
147
7.580
7.191
379
7.879
7.490
377
17
18
19
INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
FINANCE COMPANIES
REITS
-263
-303
40
-60
-48
-374
-346
-28
-330
-330
3
4
5
6
20
21
NONFARM NONCORP. BUSINESS
NONFIN. CORPORATE BUSINESS
U.S. GOVERNMENT
SAVINGS ♦ LOAN ASSOCIATIONS
1
8
2
10
2
88
1.10 0
3
2.820
637
.2
.1
.1
.2
.2
.1
.5
15.4
16.0
15.4
15.2
- .2
- .2
.1
.1
*
-.3
15.4
.3
- .1
*
2 .1
.1
- .8
2.8
9.5
7.4
11.9
9.3
10.8
8 .1
12
6.939
6.552
373
14
2 .1
2 .6
2.7
*
-447
-413
-34
-450
-250
-379
-309
-70
-700
-250
1 .1
.8
1.3
.9
.3
1.7
*
*
.3
.5
-
*
.8
-
- .1
2.3
1 .2
.5
.4
"
*
*
15.4
- .1
-.1
10.7
12.7
-.5
-.5
- .1
-.9
*
.5
3.2
*
1.9
2.4
9.8
7.1
2.7
*
4.5
2.9
1 .6
1 .1
.6
1.2
.6
.6
-.6
.5
-
1.6
.1
-
.1
1 .1
2.5
7.9
6.0
1 .8
*
-.3
-.5
.2
.4
-
6
8
.8 9
.1 10
1 .6 11
3.5 12
-.7 17
-.7 18
* 19
.6 20
♦ 21
MULTI -FAMILY RESIDENTIAL MORTGAGES
1 NE T BORROWING
NONFARM NONCORP. BUSINESS
2
566
351
186
29
711
480
193
38
1 .086
NONFIN. CORPORATE BUSINESS
REITS
5 NET CHANGE IN ASSETS
6
H OUSEHOLDS
7
U.S. GOVERNMENT
8
SPONS. CREDIT AGENCIES (1)
9
C OMMERCIAL BANKS
566
14
382
290
-443
711
233
108
128
-360
1.086
-87
709
38
-115
1.340
3
4
815
244
27
1.340
925
394
2.8
1.8
1.0
3.2
2.8
- .2
3.2
-.3
21
86
732
98
-80
4.5
3.3
1.3
4.5
-.3
*
*
*
*
- .1
.2
.2
.1
2.5
1.5
2.3
10
11
12
SAVINGS INSTITUTIONS
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
214
147
67
719
578
141
632
486
146
611
467
144
2.0
13
14
15
LIFE INSURANCE COMPANIES
S. ♦ L. GOVT., R T R . FUNDS
REITS
172
-29
-34
-2
-39
96
-148
61
103
-271
.5
.3
77
-192
2 .2
1 .0
1.3
.7
1.0
.6
.4
-
1 .2
1 .1
3.6
2.8
.9
-
3.1
2.4
.7
3.6
2.8
.8
3.4
2.7
.7
.1
3.6
-.9
*
*
.3
3.1
-.5
.3
_
2.0
1 .1
1.0
.1
3.6
-.3
.2
*
.3
3.4
-.3
.3
*
.3
1
2
3
4
5
6
7
8
9
1.5
.9
1 .6 10
1 . 1 11
.5 12
1.4
.5
1.0 13
1 .2
6 .6
1 .1
1
2
.3
3.1
.5
4.8
3
4
5
.9
.5
.5
1.9
.5
1 .6
1.5
.7
-
.8
4.4
5.7
1.3
.4
4.0
-
4.7
5.7
.7
*
4.7
.2
6.6
.1
6
*
9
.6
.4 14
.1 15
C OMMERCIAL MORTGAGES
1 NET BORROWING
2
HOUSEHOLDS
3
4
5
NONFARM NONCORP. BUSINESS
NONFIN. CORPORATE BUSINESS
REITS
6 NET CHANGE IN ASSETS
7
8
9
HOUSEHOLDS
U.S. GOVERNMENT
COMMERCIAL BANKING
1.455
338
106
9 53
58
2.464
336
205
1.845
78
2.291
334
190
1.711
56
2.465
332
209
1.880
44
4.8
5.1
3.8
.4
3.5
-
.4
3.7
-
.3
2.5
1.455
-219
2.464
2.291
2.465
2
0
100
0
5.1
*
_
- .6
1 .6
1 .8
2.0
2.0
1 .6
2.6
1 .6
1.0
.6
1.3
.9
.5
1.0
1.3
1.9 10
1.0 1 1
.8 12
1.0
1 .0
1 .0
0
-66
0
245
674
434
505
4.8
.3
1.5
1.192
1.085
107
1 .6
1 .1
1.3
.3
1.4
.4
1.4
*
-
1.7
*
-
1 .0
-
10
11
12
SAVINGS INSTITUTIONS
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
495
454
41
1.240
1.125
115
1.397
1.288
109
13
14
15
LIFE INSURANCE COMPANIES
O THER INSURANCE COMPANIES
REITS
996
4
1.035
798
6
22
-66
-441
-346
---- ---------- — — — -------
871
0
-203
3.8
-
*
1 .2
.3
2.9
4.4
- .6
.1
*
.4
.6
.6
.7
1.7
*
-
2 .1
1 .6
*
-
7
8
1.9 13
*
* 14
. 1 15
--------- ------- ___
FARM MORTGAGES
1 NET BORROWING
1.242
1.396
1.018
844
1.3
1.6
2 .1
2.2
1.8
2.3
2.2
1
2 NET CHANGE IN ASSETS
1.242
7
3 54
777
58
-18
64
1.396
247
54
795
135
4
161
1.018
844
259
45
486
38
1.3
.7
*
1-6
.6
2 .1
2.2
1.8
.9
*
.5
*
.7
2.2
1.2
2
.9
*
.4
.3
*
.5
2.3
1.0
- .1
♦
.4
.1
*
.5
.3
*
.3
.2
8
3
4
5
6
7
8
HOUSEHOLDS
U.S. GOVERNMENT
SPONSORED CREDIT AGENCIES
COMMERCIAL BANKS
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
210
63
609
71
1
2
64
14
(1) INCLUDES MORTGAGE POOLS BACKING G N MA-GUARANTEED SECURITIES.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
.2
.3
_
.1
*
.3
.3
*
.4
.6
.3
*
.5
.2
.7
.3
3
4
5
6
7
10 FEBRUARY 1976
MORTGAGES* BY TYPE
MORTGAGES, BY TYPE
35
MORTGAGE MARKETS BY TYPE OF MORTGAGE
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1969
1970
1971
1972
1973
1974
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
1975
HOME MORTGAGES
1
2
15.6
16.1
3
4
5
-.2
-.2
-. 1
6
7
8
9
10
11
12
13
14
15
16
17
18
19
13.4
12.5
28.0
24.2
.2
.2
- .1
.6
1.0
1 .0
-. 1
2 .0
15.6
.1
13.4
*
.1
- .1
- .1
28.0
*
-.3
♦
4.8
5.7
40.7
- 2 .6
18.7
17.3
1.3
*
27.9
24.8
3.0
-2.7
- 2 .1
- .6
- 2.8
- 2 .1
-.7
4.1
1.4
*
3.9
3.0
9.1
7.7
1.4
*
-.9
20
21
-1 .1
•1
•3
•1
1
2
4.8
3.6
3
4
1.2
.1
5
4.8
-.5
.7
♦
.5
*
5.1
.9
8 .2
7.2
.9
.1
- 1 .2
-1.3
•1
•1
.5
1 .1
.7
40.7
38.4
.6
.6
— .1
1 .2
- .6
*
4.3
9.0
.2
4 1.7
44.2
-.4
-.4
30.1
32.6
-.4
-.4
37.8
33.7
-.1
- .1
-1.5
1 .1
1 .1
-.1
-1.5
1.9
29.2
30.2
- 1 .0
- 1.0
*
.9
4 1.7
-.9
- 1 .2
*
6.4
30.1
37.8
29.2
1 1 .0
2 4.6
22.0
2 .6
“
- .8
-. 5
-.3
1.4
1.3
- .2
.2
- .1
6 .2
39.3
34.7
38.1
31.2
1 .1
1 .1
.2
2 .1
2 .1
39.3
.3
4.4
*
2.3
-.4
3.2
38.1
.1
44.5 NET BORROWING
3 8.5
HOUSEHOLDS
2.4
N ONFARM NONCORP. BUSINESS
2.4
NONFIN. CORPORATE BUSINESS
- .1
U.S. G O V ERNMENT
1.3
SAVINGS ♦ LOAN ASSOCIATIONS
44.5 NET CHANGE IN ASSETS
.4
HOUSEHOLDS
4.2
U.S. GOVERNMENT
*
STATE ♦ LOCAL GOVERNMENTS
11.4
SPONS. C REDIT AGENCIES (1)
3.3
COMMERCIAL BANKING
.5
9.8
6.5
4.9
*
9.7
1.9
2.2
1.7
4.6
*
9.0
.3
14.5
13.8
.7
*
25.1
23.8
1.3
*
14.3
13.7
*
26.8
25.2
1.5
*
28.3
26.7
1.5
*
31.0
29.5
1.5
.4
.4
*
-1.7
.3
-1.5
-1.4
- 1.0
- 1 .1
- 1 .2
- 1 .1
- 1.5
-1.4
-2.3
-1.3
-1.7
- 1.0
- 2.2
-1.9
-.3
- 2.6
- 1.0
1.9
1.3
.4
4.4
3.1
*
7.3
.6
- .1
.2
-1.5
-.9
.4
- .2
1 1 .0
- .1
-.1
.1
6
7
8
9
10
11
12
13
14
15
1.7
8.8
6 .2
2 .6
5.9
8.8
-.1
10.4
.4
.3
- .8
.5
.3
•1
2.4
*
.8
.2
1 .2
8.5
5.9
2.5
.1
8.5
7.8
5.6
2.2
.1
3.7
2.6
1.0
.1
3.8
2.6
1 .1
.1
.1
7.8
*
3.7
.4
1 .1
1.9
3.8
.3
1.5
.2
.2
1.9
1 .2
.1
13
14
15
16
INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
F INANCE COMPANIES
REITS
17
18
19
4.4
*
-.5
4.7 NET CHANGE IN ASSETS
.5
HOUSEHOLDS
2.9
U.S. GOVERNMENT
.4
SPONS. CREDIT AGENCIES (1)
-.3
COMMERCIAL BANKS
2.3
1.7
2.3
1.7
2.4
1.9
SAVINGS INSTITUTIONS
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
- .2
-.6
.4
.4
- 1 .1
LIFE INSURANCE COMPANIES
S. ♦ L. GOVT., RTR. FUNDS
REITS
.2
2.8
.2
1 .2
1 .8
2.0
1 .2
2.4
.6
- 1.0
- 1.8
5.3
3.5
4.5
3.4
3.1
1.8
2.2
1 .6
1 .1
1 .6
1 .2
1.4
.4
1.7
.5
1.4
.3
1 .1
1 .6
-. 1
.7
.3
.3
.2
.2
- .6
1 .2
- .1
-.1
- .8
-.6
7.6
1.4
9.9
1.3
8 .2
2 .1
.5
.4
1.8
1.4
1.9
•3
.8
.6
.7
.3
.7
.5
— .3
1 .2
.6
1 .2
4.7 NET BORROWING
3.3
N ONFARM NONCORP. BUSINESS
1.3
NONFIN. CORPORATE BUSINESS
.1
REITS
.4
.5
- 1.4
.7
1 .2
.6
10.4
7.3
3.0
.6
.3
.3
.6
.6
COMMERCIAL MORTGAGES
1
2
3
4
5
6
7
8
9
10
11
12
5.5
1.3
.4
3.7
.2
5.4
1.4
.4
3.6
•1
1 0 .1
1 .2
5.4
15.1
1.4
1.3
17.3
1.4
12.0
14.1
.3
.2
15.1
- 1 .2
*
5.4
17.3
.1
~
6.9
1 1 .6
*
”
4.8
- .2
- .1
—
1.9
—
1.4
5.2
3.7
1.5
4.9
3. 1
1.7
3.6
4.3
4.0
.4
2.7
2.5
3.4
*
2.3
2.9
*
2.5
2.8
1 .1
3.7
*
- 1 .1
.9
7.9
.1
5.5
•3
*
- .2
1 0 .1
- .6
1 .6
1 .2
*
3.0
1.4
.6
1.5
1.0
4.1
3. 1
.8
.6
1 .0
1 .6
*1 1 .6
1.4
9.1
8.7
1.3
.7
6.4
.1
.2
1 .0
2 .6
1 .0
8.7
.6
.8
1.3
.7
9.0 NET BORROWING
1.3
HOUSEHOLDS
.8
NONFARM NONCORP. BUSINESS
6.8
NONFIN. CORPORATE BUSINESS
.2
REITS
7.4
.3
6.0
.2
9.9
*
—
2.1
8 .2
-.2
—
1.1
9.0 NET CHANGE IN ASSETS
-.4
HOUSEHOLDS
—
U.S. GOVERNMENT
2.8
C OMMERCIAL BANKING
.2
4.5
4.0
.5
5.3
4.8
.4
4.8
4.4
.4
SAVINGS INSTITUTIONS
S AVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
3.9
*
-.3
4.9
3.4
*
-1.4
2 .6
- 1.8
-.8
LIFE INSURANCE COMPANIES
OTHER INSURANCE COMPANIES
REITS
5.4
.2
7.6
13
14
15
1 .8
1.8
*
.4
1 .0
1
1.9
1.8
2.0
2 .6
4.4
4.9
4.5
4.8
4.9
4.0
4.3 NET BORROWING
2
1.9
1.2
*
m6
-
1.8
2.0
2.6
1.1
*
.5
.9
*
.7
4.4
1.3
4.9
1.0
4.8
-.4
1.4
3.1
•3
“ •I
4.9
.9
1 .2
4.5
.7
.5
2.7
4.0
.8
.3
2.5
.3
*
4.3 NET CHANGE IN ASSETS
1.6
HOUSEHOLDS
.1
U.S. GOVERNMENT
2 .1
SPONSORED CREDIT AGENCIES
.4
COMMERCIAL BANKS
*
MUTUAL SAVINGS BANKS
*
LIFE INSURANCE COMPANIES
2.5
*
*
.3
.1
-
FARM MORTGAGES
3
4
6
.7
*
.2
2.0
.2
2.8
•6
.2
3.0
.2
*
.5
.1
(I) INCLUDES MORTGAGE POOLS BACKING GNMA-GUARANTEED SECURITIES.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
12
SAVINGS INSTITUTIONS
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
CREDIT UNIONS
MULTI-FAMILY RESIDENTIAL MORTGAGES
5.9
4.3
1.5
*
9
10
11
20
21
10 FEBRUARY 1976
CONSUMER CREDIT AND BANK LOANS N.E.C
36
CONSUMER C REDIT AND BANK LOANS N.E.C.
CONSUMER CREOIT AND BANK LOANS NOT ELSEWHERE CLASSIFIED
UNADJUSTED NET FLOWS
UNADJUSTED NET FLOWS
1975 U N ADJUSTED NET FLOWS
I
II
III
($ MILL.)
IV
1963
YEAR TOTALS <$ BILL.)
1964
1965
1966
1967
1968
CONSUMER CREDIT
8.5
7.2
1.3
9.6
1.0
4.5
3.2
1.4
10.0
1.4
8.5
7.2
9.6
6.4
5.4
4.5
3.2
10.0
.1
.2
.1
- .1
1.8
.1
.1
.1
6
-.3
4.8
7
1.4
.4
.4
.5
*
*
1.7
.4
.3
.9
*
*
13
14
15
16
17
18
6.4
5.4
-5.062
-4.797
-265
1.076
979
97
3.588
3.437
151
5.686
4.099
1.587
5.8
4.8
7.9
4 NET CHANGE IN ASSETS
5
INSTALMENT CREDIT
6
N O N FARM NONCORP. BUSINESS
7
NONFIN. CORPORATE BUSINESS
8
COMMERCIAL BANKING
9
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
10
CREDIT UNIONS
11
FINANCE COMPANIES
12
-5.062
-4.797
-166
-909
-2.439
-56
235
1.076
979
S . 686
4.099
232
1.153
5.8
4.8
*
.4
7.9
.8
.1
1.0
686
2.0
3.1
*
*
3.9
*
.1
959
-147
7
-97
844
1.274
3.0
*
111
3.588
3.437
16
85
1.337
63
13
1.324
599
.6
1.8
.1
.8
2 .1
.9
2.2
3.2
1 .6
.7
.5
N O NINSTALMENT CREDIT
NONFARM NONCORP. BUSINESS
NONFIN. CORPORATE BUSINESS
C OMMERCIAL BANKING
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
-265
473
-313
-466
151
4
171
-26
1.587
661
870
78
4
-26
1.0
1 .2
.3
1.3
.3
.3
.7
*
*
1.4
.4
.3
.7
*
*
1 .0
.4
•3
.3
*
*
.4
.3
.3
*
*
1 NET CHANGE IN LIABILITIES
2
INSTALMENT CREDIT
3
NONIN S T A L M E N T CREDIT
13
14
15
16
17
18
(HH)
-1.573
-2 1
62
-20
-107
280
34
-20
97
-7
172
-60
-3
-5
-1
3
6.8
1 .2
1 .0
*
*
6 .8
*
.7
.2
.5
.1
*
8 .2
8 .2
.1
2.4
*
.1
.1
1.0
8.3
1.7
8.3
1
2
3
4
5
8
.1 9
.1 10
1.3 11
2.3 12
BANK LOANS NOT ELSEWHERE CLASSIFIED
1
2
3
4
5
6
7
9
10
11
12
TOTAL LOANS AT COMMERCIAL
BANKSt F/F BASIS
- LOANS ELSEWHERE CLASSIFIED:
-298
MORTGAGES
-2.905
CONSUMER CREDIT
-872
SECURITY CREDIT
156
OPEN-MARKET PAPER
0
HYPOTHECATED DEPOSITS
= BANK LOANS NEC AT COML. BKS. -13.498
BANK LOANS NEC AT OTHER
BANKING SUBSECTORS:
-224
OOMESTIC AFFILIATES
- 1.02 2
FOREIGN BANKING AGENCIES
-14.744
BANKING SECTOR TOTAL BANK
LOANS NEC
LOANS BY F.R. BANKS
-14.744
TOTAL BANK LOANS NEC
13 NET CHANGE IN LIABILITIES
14
NONFINANCIAL SECTORS
HOUSEHOLDS
15
FARM BUSINESS
16
N ONFARM NONCORP. BUSINESS
17
CORPOR ATE BUSINESS
18
REST OF THE WORLD
19
20
21
22
23
24
-17.417
FINANCIAL
SAVINGS
FINANCE
REITS
FOREIGN
SECTORS
♦ LOAN ASSNS.
COMPANIES
BANKING AGENCIES
5.309
-6.732
14.147
13.1
17.1
19.1
26.3
18.3
17.8
27.5
1
1.042
1.007
1.311
-3.868
-254
1.188
764
5.044
2.500
4.0
2.3
4.9
3.5
4.5
3.8
.5
5.6
4.6
4.6
4.6
2.4
1.5
.6
.1
-.4
6.7
5.7
1.3
-1.4
2
3
4
5
7.8
9.6
16.3
220
1.069
990
*
5.9
.6
.2
.1
2 .6
.1
2.0
6
.1
0
0
0
1.988
-4.928
4.651
-10
-171
199
-4.900
-12 1
_
-370
1.608
609
5.139
*
.1
.1
5.8
7.9
9.7
0
*
*
*
*
*
1.608
-4.900
5.139
5.8
8.0
9.7
16.4
9.7
-14.744
-11.599
-1.411
63
-612
-8.360
-1.279
1.608
1.421
1.567
771
-514
-2.359
1.956
-4.900
-3 .676
-1.788
529
-450
-3.849
1.882
5.139
5.001
2.520
5.8
4.7
.3
8.0
.8
.6
16.4
14.1
1.4
.7
-597
1 .837
1.141
•4
2.9
.4
.7
3.7
9.7
9.1
1.5
.3
.5
5.1
1.8
10.5
.5
-3.145
-8 51
-2.004
267
-557
187
-123
538
-332
104
-1.224
540
-306
-305
-1.153
138
367
-393
-472
636
1 .1
*
1.2
1.7
.6
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
1 .1
-.1
100
_
*
_
6.3
.7
.6
.1
1 .6
*
7
-
-
.4
9.8
7.5
.4 9
15.7 10
_
7.5
11
15.7 12
9.7
10.7
.4
.9
1.3
8.3
7.5
9.5
1.9
.7
-.2
-.3
15.7
13.1
2.5
.4
1.1
9.6
-.5
2.3
- 1.0
- 2.0
-
- 1 .2
-
-
.1
16.4
1.0
*
.5
.2
2.2
*
*
-
15.3
.1
.1
8
.1
.6
6.6
- .1
- 1.8
-
*
13
14
15
16
17
18
19
2.5 20
.1 21
2.3 22
.1 23
.1 24
10 FEBRUARY 1976
CONSUMER CREDIT AND BANK LOANS N.E.C.
C O N SUMER CREDIT ANO BAN K LOANS NOT ELSEWHERE CLASSIFIED
CONSUMER C R E D I T AND BANK LOANS N.E.C.
37
(BILLIONS OF DOLLARS)
SEASONALLY AOJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
CONSUMER CREDIT
1
2
3
10.4
9.4
1.0
6.0
5.0
1.1
11.2
9.2
2.0
19.2
16.0
3.1
22.9
20.1
2.8
9.6
8.7
.9
5.3
3.7
1.6
-2.5
-3.1
.6
*•6
-1.5
.9
11.6
9.2
2.3
12.7
10.2
2.5
4
5
6
7
8
9
10
11
12
10.4
9.4
.1
•
4.5
.2
.1
1.7
2.8
6.0
5.0
.1
.1
3.0
.3
.1
1.0
.5
11.2
9.2
*
.1
5.8
.1
.1
1.8
1.3
19.2
16.0
.2
1.0
8.5
.1
.2
2.1
3.8
22.9
20.1
.2
1.2
9.7
.2
.2
2.7
5.9
9.6
8.7
.1
.7
3.0
.2
2.5
2.1
5.3
3.7
.1
.2
-.1
*
.1
3.2
.2
-2.5
-3.1
-.1
- .4
-4.2
-.1
.9
2. 4
-1.6
-.6
-1.5
*
.2
-2.8
*
-.1
2.4
-1.2
11.6
9.2
.1
.3
3.1
.1
.1
4.1
1.3
12.7
10.2
.3
.8
3.3
.1
-. 4
4.0
2.1
IET CHANGE IN ASSETS
INSTALMENT C REDIT
N O N FARM NONCORP. BUSINESS
NONFIN. C O R PORATE BUSINESS
COMMERCIAL BANKING
S AVINGS «- LOAN ASSNS.
MUTUAL SAVINGS BANKS
CREOIT UNI O N S
FINANCE COMPANIES
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
1.0
.5
.3
.2
*
*
1.1
.5
.6
-.1
•
*
2.0
.7
.4
.8
*
*
3.1
.9
.6
1.5
.1
.1
2.8
1.0
.8
.9
•
•
.9
.8
.4
-.3
*
♦
1.6
1.1
.9
-.5
*
•
.6
1.8
.3
-1.7
-.1
.2
.9
.8
.7
-.6
*
*
2.3
1.7
.5
.2
*
*
2.5
.3
2.1
•2
*
-.1
NONINST A L M E N T CREDIT
N O N FARM NONCORP. BUSINESS
N ONFIN. CORPORATE BUSINESS
COMMERCIAL B ANKING
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
13
14
15
16
17
18
-.1
INSTALMENT CRED I T
NONI N S T A L M E N T CREDIT
BANK LOANS NO T ELSEWHERE CLASSIFIED
1
21.6
12.9
30.0
59.0
73.2
48.4
-4.7
-26.7
-5.3
2
3
4
5
6
7
5.2
4.7
-1.1
.5
9.8
6.7
.8
.8
—
11.9
16.8
10.1
4. 7
-.2
—
27.7
19.6
10.6
-3.0
-.8
12.1
2.8
-2.4
2.2
2.9
-.6
1.4
3.4
1.7
-5 . 9
7.7
2.8
2.3
-3.4
4.2
4.0
3.3
-14.5
.3
12.3
2.4
2.9
1.4
2.0
—
4.2
46.7
33.7
-11.8
-33.1
-12.4
- 6.4
8
9
10
3.9
1.3
17.6
-1.0
2.6
5.8
-.1
.5
12.4
-.2
1.1
28.5
1.7
3.7
52.1
.9
4.9
39.5
-.5
-.6
-12.9
-.9
-4.1
-38.1
•
-.7
-1.5
-13.9
-6. 3
11
12
-
-
-
-
17.6
5.8
12.4
28.5
52.1
39.5
-12.9
-38.1
-13.9
-6.3
17.6
15.3
1.0
5.8
6.4
.9
28.5
52.1
38.6
.8
39.5
32.0
-2.5
.9
- 1 .0
29.9
4. 7
-12.9
-8.9
.9
1.5
- 2.2
-12.7
3.7
-38.1
-29.5
3.8
.4
-13.9
.6
2.1
12.4
9.3
1 .8
1.3
-26.8
-4.8
-6.3
-2.9
-4.6
2.3
-.4
-9.1
7.5
-4.0
- 8 .6
- 2.2
- .1
-1.7
-5.7
1.0
- 2 .2
13
14
15
16
17
IB
19
—
11.8
-.2
20
21
22
2.3
23
24
.2
.2
.1
1.9
-.6
.2
5.6
-.3
4.4
-.5
- .1
- 1.1
3.0
.7
*
.7
1.6
1.6
21.8
2.8
1 .8
.7
13.5
2.9
6 .8
.7
3.8
1.3
—
_
1.8
3.0
.4
30.6
2.8
13.5
.3
4.1
4.0
5.1
—
—
_
«.
1 .1
- 1.0
4.6
2.9
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
_
-.8
-
-
2 .1
1.1
29.5
1 .2
.8
6.5
3.5
8 .2
6.5
-.5
2.4
6.7
_
- 1 0 .6
2.0
1 .8
-1.9
-19.8
7.3
-3.3
-1.3
-l.l
-1.3
.4
8 .8
-3.4
2.4
.1
- 1 .2
- 4. 6
6.7
TOTAL LOANS AT COMMERCIAL
BANKS, F/F BASIS
• L OANS ELSEWHERE CLASSIFIED:
M ORTGAGES
CONSUMER C REOIT
SECURITY CREDIT
OPEN-MARKET PAPER
HYPOTHECATED DEPOSITS
BANK LOANS NE C AT COML. BKS.
BANK LOANS NE C AT OTHER
BANKING SUBSECTORS!
DOMESTIC AFFILIATES
8
FOREIGN BANKING AGENCIES
9
BANKING SECTOR TOTAL BAN K
10
LOANS NEC
LOANS BY F.R. BANKS
11
TOTAL BANK LOANS NEC
12
6.7 NET CHANGE IN LIABILITIES
7.6
NONFINANCIAL SECTORS
2.3
HOUSEHOLDS
1.3
FARM BUSI N E S S
-4. 3
NO N F A R M NONCORP. BUSINESS
4.8
CORPORATE BUSINESS
3.5
R E S T OF THE WORLD
13
14
15
16
17
18
19
-.9
.4
-1 . 9
-1 . 9
2.5
20
21
22
FINANCIAL
SAVINGS
FINANCE
REITS
FOREIGN
SECTORS
♦ LOAN ASSNS.
COMPANIES
BANKING AGENCIES
23
24
10 FEBRUARY
OTHER LOANS
1976
OTHER LOANS
OPEN-MARKET PAPER AND OTHER LOANS
U NADJUSTED NET FLOWS
UNAD J U S T E D N ET FLOWS
1975 UNADJUSTED NE T FLOWS
I
II
III
($ MILL.)
IV
1962
OTHER LOANS —
1 NET INCREASE IN LIABILITIES
N O NFINANCIAL SECTORS
2
3
4
5
6
7
8
9
10
11
12
13
14
HOUSEHOLDS
FARM BUSINESS
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
STATE ♦ LOCAL G O V ERNMENTS
RES T OF THE WORLD
3.049
4.288
654
585
-96
2.003
74
1.068
-2.769
-1.738
480
115
-664
-1.708
FINANCIAL SECTORS
SPONSORED CREOIT AGENCIES
COMMERCIAL BANKING
SAVINGS ♦ LOAN ASSNS.
FINANCE COMPANIES
REITS
15 NE T INCREASE IN ASSETS
16
HOUSEHOLDS
17
NONFIN. CORPORATE BUSINESS
18
U.S. GOVERNMENT
19
20
21
22
23
24
25
SPONSORED CREDIT AGENCIES
MONETARY AUTHORITIES
COMMERCIAL BANKING
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
FINANCE N.E.C.
REST OF THE WORLD
1.022
20
19
-10 1
3.454
2.713
489
40
1.865
-985
175
1.129
-1.239
258
2.607
-3.640
-497
33
-1.031
294
-419
-1.361
358
97
1.288
161
1.340
679
-845
-47
741
-474
-709
403
1.489
32
2.0
3.049
207
3.265
2.045
-2.769
-3.291
281
-129
1.022
3.454
-80
326
397
4.9
*
.7
1.9
-3.511
29
156
627
1.037
1.253
-2.059
-521
-346
990
-219
455
361
-350
872
252
2.500
61
-587
1.0
.1
787
192
-254
-2 1
1.888
-896
0
1.12 2
-1.409
YEAR TOTALS ($ BILL.)
1964
1965
1966
1967
1968
6.5
7.2
1.3
13.6
SECTOR TOTALS
-266
530
43
-806
-98
166
-1.789
151
964
1963
4.9
2.9
.5
.7
.2
1 .6
*
2 .2
- .1
.8
1 .2
1 .0
.8
.2
.6
.1
-
*
.1
.7
.4
*
6.5
4.3
.7
.3
1 .0
•3
1.3
8.7
5.9
.9
.2
1.4
1 .1
.3
2 .0
2.8
.1
.6
8.5
5.3
.9
.3
1 .6
•6
.3
1.5
11.3
7.3
2 .0
.4
1.7
1.3
.6
1 .2
4.7
9
.9
3.5
~
-2.5
6.5
1.7
.8
- .1
1.0
.1
1 .6
.7
-.3
*
1 .1
.1
.1
6
.7
11.3
2.7
-.4
.1
6
2 .1
-.7
8.5
*
1.5
2.9
.4
1.5
3.6
.3
- .1
-.2
-
.6
2.8
*
1.5
3
4
5
.2
4.0
8.7
*
2.3
2.9
.5
1.4
1.4
1
2
3.0
-.2
-.2
6.5
♦
.9
1.9
.1
.2
-.1
.2
1.0
.2
1 .1
1 .2
1.7
.6
.6
3.1
.5
1.5
“
8.8
2.0
- 2 .1
4.0
3.8
- 1.8
*
7
.2 10
1.0 1 1
.9 12
2.6 13
"
14
13.6
.7
5.1
3.7
15
16
17
18
1 .2 19
- . 1 20
2.0
-1.4 21
1.0
1.2 23
2.5 24
.6 25
*
.2
2.3
.4
1 .6
.2
-.4
*
.1 22
OPEN-MARKET PAPER
1 NET ISSUES* BY TYPE ♦ SECTOR
2
3
4
5
6
7
8
9
10
11
12
DIRECTLY-PLACED PAPER
BANK AFFILIATES
FINANCE COMPANIES
REITS
D EALER-PLACED PAPER
NONFIN. CORPORATE BUSINESS
BANK AFFILIATES
FINANCE COMPANIES
REITS
13
14
15
BANKERS* ACCEPTANCES
N ONFINANCIAL BUSINESS
NONCORPORATE
COR PORATE
REST OF THE WORLD
16
NONBANK CREDIT TO BANKS IN
SECURITY RP*S ♦ FED. FUNDS
3.909
-3.302
-172
875
1.3
1 .0
2.8
1.9
4.4
4.0
5.2
1
-634
738
-1.355
-17
-11 2
674
-530
1.034
170
.9
.9
1.0
1.4
1.4
1 .2
3.2
1 .6
1 .8
-
—
—
—
2
-49
-30
-33
-607
99
-848
142
1 .2
3.2
1 .6
1.8
3
4
5
2.301
1.520
-127
858
50
-1.956
-2.348
-126
388
130
111
-1.347
-1.874
.3
-.3
-.3
*
1 .2
.8
1.8
330
-33
3
-189
2.3
1.5
-
246
142
71
71
104
-990
-288
-144
-144
-702
-950
-382
-191
-191
-568
1.937
1.308
654
654
629
210
455
-138
—
1 .0
-
.4
.1
.3
-.2
-.2
.2
-
-
.1
.1
*
*
*
*
*
.2
- .2
-.1
-.1
.5
*
.2
.1
.1
.3
.5
.4
1.4
.4
.8
6
7
8
9
10
*
*
.4
- .1
.1
.1
-.1
*
*
.7
.2
.1
.1
.5
. 1 11
.3 12
.1 13
.1 14
- . 2 15
1.996
-244
1.274
-389
.6
1 .1
- .2
-.2
1.0 16
17 NET PURCHASES, BY SECTOR
3.909
-3.302
-172
875
1.3
1 .0
2.8
1.9
4.4
4.0
5.2 17
18
19
207
3.265
-3.291
281
295
-14
-1.789
151
-1.348
1.499
-80
326
810
-484
*
.7
.7
*
.9
.9
-
*
2.3
1.7
*
1.5
.5
2.7
-.4
.6
- 2 .1
4.0
4.2
1 .1
- .2
- .2
29
156
627
-124
751
-346
990
-219
192
-254
.1
.1
-.1
-.1
-.1
.6
.1
.1
*
*
1 .1
.1
.1
“
-
-.4
*
*
-
2.0
204
-225
.1
- .1
.1
.1
.1
11
252
2.500
61
-34
95
570
1.114
-2.059
109
-476
-350
-889
114
-1.409
.2
20
21
22
HOUSEHOLDS
NONFIN. CORPORATE BUSINESS
COMMERCIAL PAPER
SECURITY RP'S
23
24
25
26
MONETARY AUTHORITIES
COMMERCIAL BANKING
MUTUAL SAVINGS BANKS
COMMERCIAL PAPER
SECURITY RP*S
27
28
29
LIFE INSURANCE COMPANIES
INVESTMENT COMPANIES
REST OF THE WORLD
2.020
1.245
-230
-2 1
1.515
34
0
“
.3
*
- .2
*
*
-
-
.1
.1
.1
.3
.4
.5
.1
- .1
-.1
.2
*
*
.2
*
*
.7
5.1
4.2
.9
18
19
20
21
- . 1 22
-1.4 23
. 1 24
* 25
.1 26
* 27
.3 28
.6 29
OTHER TYPES
I FINANCE CO. LOANS TO BUSINESS
LIAB.-NONCORPORATE BUSINESS
NONFIN. CORP. BUSINESS
139
-266
405
837
109
728
-930
—643
-287
1.008
832
176
4 U.S. GOVERNMENT LOANS
5
LIAB.-HOUSEHOLDS
FARM BUSINESS
7
NONFARM NONCORP. BUS.
8
NONFIN. CORP. BUSINESS
9
S. + L. GOVERNMENTS
10
SPONS. CREDIT AGENCIES
REST OF THE WORLD
11
2.045
187
314
241
7
74
258
964
-133
130
-787
-567
56
960
153
64
393
183
50
12 SPONSORED CREDIT A GENCY LOANS
LIABILITY OFFARM BUSINESS (FICB)
NONFARM NONCORP. BUS. (BC)
S + L ASSOCIATIONS (FHLB )
-3.511
-521
787
271
-142
-3.640
902
-62
-1.361
-2 1
129
679
467
0
467
350
4
346
0
0
2
3
6
13
14
15
16 POLICY LOANS (HH LIABILITY)
17
ASSET—U.S. G O V ERNMENT
18
LIFE INSURANCE COS.
19
HYPOTHECATED DEP. (HH LIAB.)
ASSET-COMMERCIAL BANKS
-10 1
-100
50
166
161
467
59
175
-474
500
20
294
721
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
.2
1.4
1 .6
2.0
.4
-.2
.6
.9
.7
1.3
.6
1.9
.2
1.9
.2
2.9
.2
2.8
.2
.1
.2
.2
.1
.1
.3
*
.2
.1
.2
.8
.4
.3
.3
1 .1
1 .1
-.3
2 .2
- .1
1
-.1
-.3
.5
1.7
2
3
2.7
.5
*
3.7
.3
3.6
.4
4
5
.2
.2
- .1
6
.4
.3
.2
.2
-.1
.2
8
.3
9
.4
7
.2
.6
- .2
1.6
1.5
1.3
2.6
2.2 1 1
1.7
.8
1.0
1.6
-1.8
1 .2 12
.3
.1
.3
.4
.5
.1
.1
.1
.2
.2
.2 13
. 1 14
1.3
.5
.7
.9
-2.5
.9 15
•5
*
.5
.5
*
.4
.5
*
.5
.6
*
.5
1.5
.1
1.4
1.0
1.3 16
* 17
1 .2 18
*
.1
.1
.1
.1
-
.5
*
.7
.2
- .1
1 .2
872
1.0
-10
479
403
.2
*
.8
377
4
373
306
4
302
0
0
.3
.1
.1
.9
.2 10
-
19
10 FEBRUARY 1976
OTHER LOANS
SEASONALLY ADJUSTED ANNUAL RATES
1969
1970
1971
1972
OTHER LOANS
39
OPEN-MARKET PAPER AND OTHER LOANS
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1973
1974
1975
1975 SEAS ADJ ANNUAL RATES
I
III
IV
II
OTHER LOANS -- SECTOR TOTALS
1
2
3
4
5
6
7
8
29.8
15.4
3.0
.6
1.5
7.1
.7
2.4
6.0
9.7
2.6
•6
1.0
3.2
.1
2.1
4.9
5.7
1.4
.7
.5
.7
.4
2.1
10.7
5.8
1.3
.5
.4
2.5
.3
.8
28.8
11.8
2.5
1.2
1.8
2.0
.3
3.9
34.7
27.4
2.9
1.9
2.1
10.9
.8
8.7
4.8
5.0
2.2
.8
.3
-.8
•4
2.1
11.4
10.2
2.6
1.6
*
1.5
.3
4.3
-10.5
-4.5
1.9
-.8
-2.0
-3.8
.1
.1
10.5
4.6
2.1
1.2
-1. 0
1.9
.7
-.4
7.6
9.7
2.0
1.1
4.2
-2.7
.7
4.5
NONFINANCIAL SECTORS
H OUSEHOLDS
FARM B USINESS
N O N FARM NONCORP. BUSINESS
CORPORATE BUSINESS
STATE ♦ LOCAL GOVERNMENTS
REST OF THE WORLD
9
10
11
12
13
l*
14.5
-.3
5.8
4.0
4.9
-3.6
-5.1
1.3
.2
“
-.8
.7
-2.7
.4
.8
5.0
2.4
*
*
2.5
17.0
5.5
7.2
3.5
.7
7.2
.7
-.6
6.7
3.8
-3.3
-.2
.2
2.8
-3.9
.5
.1
1.3
1.0
10.4
-10.5
.1
.1
-6.0
1.2
-1.7
-5.7
-.2
.4
5.9
•6
5.4
-.2
.3
-.2
-2.1
-1.9
-2.8
.7
1.8
.1
FINANCIAL SECTORS
SPONSORED CREDIT AGENCIES
C OMMERCIAL BANKING
SAVINGS ♦ LOAN ASSNS.
FINANCE COMPANIES
REITS
9
10
11
12
13
14
15
16
17
18
29.8
4.8
5.4
3.5
6.0
-1.5
-2.9
2.6
4.9
-3.9
3.3
3.2
10.7
1.5
2.4
2.9
28.8
3.5
7.8
3.6
34.7
-.5
2.2
5.6
4.8
-5.0
4.0
3.3
11.4
3.2
11.2
8.3
-10.5
-11.2
.7
-.7
10.5
-7.2
3.8
4.0
7.6
-4.6
.4
1.5
HOUSEHOLDS
NONFIN. CORPORATE BUSINESS
U.S. GOVERNMENT
15
16
17
IB
19
20
21
22
23
24
25
4.8
*
.5
.3
3.4
6.2
1.0
2.3
*
2.0
.3
3.0
-.3
.5
-2.0
.2
.8
.5
1.6
1.4
-.2
.8
-.2
-.2
8.5
♦
-.8
.6
2.2
3.1
.3
9.3
.9
2.2
*
3.1
5.3
6.6
-2.4
.1
3.4
.4
2.8
1.8
-3.8
-11.0
.1
2.8
2.5
.3
2.2
-8.1
-2.8
-1.4
4.0
-.9
3.0
.5
-1.8
1.2
.8
.3
-.1
5.6
2.1
*
3.1
1.0
6.5
.2
2.2
2.6
-5.4
SPONSORED CREDIT AGENCIES
MONETARY AUTHORITIES
C OMMERCIAL BANKING
M UTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
FINANCE N.E.C.
REST OF THE WORLO
-.1
1.1
2.5
-.1
19
20
21
22
23
24
25
OPEN-MARKET PAPER
1
14.1
-1.2
.9
3.3
11.6
13.6
1.3
14.6
-10.8
1.8
2
3
4
5
6.8
3.0
3.8
“
-. 4
-l.l
.7
~
.3
-.5
.5
.3
1.8
.2
.4
1.2
5.5
1.9
4.1
-.5
3.6
2.6
2.7
-1.6
-.7
.3
-1.2
.3
-1.3
3.0
-4.1
-.1
-2.9
-.2
-2.6
-.1
1.6
.4
.7
.6
-.2
-2.1
1.3
.7
D I RECTLY-PLACED PAPER
B ANK AFFILIATES
FINANCE COMPANIES
REITS
6
7
8
9
10
4.6
2.3
1.2
1.1
.9
2.2
-.8
-.5
"
-1.3
-1.7
.1
-.1
.5
.8
-.6
.4
-.4
1.3
.9
-.2
.4
-.6
1.2
3.5
4.1
-.1
1.1
-1.7
-.9
-2.4
-.1
1.7
-.1
5.6
1.7
-.5
4.3
.2
-3.4
-5.8
-.5
2.4
.5
-.2
1.0
-.1
-.4
-.8
-5.5
-6.4
.8
.5
-.6
DEALER-PLACED PAPER
NONFIN. CORPORATE BUSINESS
BANK A F FILIATES
FINANCE COMPANIES
REITS
6
7
8
9
10
11
12
13
14
15
1.0
.7
.4
.4
.3
1.6
.8
.4
.4
.8
•8
.5
.3
.3
.3
-1.0
.1
*
*
-1.0
2.0
-.2
-.1
-.1
2.2
9.6
2.5
1.3
1.3
7.1
.2
.8
.4
.4
-.5
2.2
1.8
.9
.9
.4
-3.5
-.7
-.4
-.4
-2.8
-4.7
-2 . 4
-1.2
-1.2
-2.3
6.9
4.4
2.2
2.2
2.5
BANKERS* ACCEPTANCES
NONFINANCIAL BUSINESS
NONCORPORATE
CORPORATE
REST OF THE W ORLD
11
12
13
14
15
-1.6
N ONBANK CREDIT TO BANKS IN
SECURITY RP» S ♦ FED. FUNDS
16
-.3 NET ISSUES, BY T YPE ♦ SECTOR
16
1.6
-3.3
1.1
1.7
3.3
-3.1
2.6
8.0
. -1.0
5.1
17
14.1
-1.2
.9
3.3
11.6
13.6
1.3
14.6
-10.8
1.8
18
19
20
21
4.8
5.4
4.0
1.4
-1.5
-2.9
.5
-3.4
-3.9
3.3
2.4
.8
1.5
2.4
.8
1.6
3.5
7.8
5.2
2.6
-.5
2.2
4.9
-2.8
-5.0
4.0
1.8
2.2
3.2
11.2
6.2
5.0
-11.2
.7
.7
-.1
-7.2
3.8
-2.2
6.0
-4.6
.4
2.4
-1.9
22
23
24
25
26
*
.5
.3
.1
.2
*
2.0
.3
.2
.1
.2
.8
.5
.2
.2
-.2
-.2
-.1
-.2
.1
*
8
.6
-.1
.7
.9
2.2
•
.3
-.3
.1
3.4
.4
.1
.4
.1
2.8
2.5
-.5
3.0
-1.4
4.0
-.9
•
-.9
.8
.3
-.1
.8
-.9
1.0
6.5
.2
-.1
.4
27
28
29
.9
1.2
1.0
.8
-.4
.5
.6
-.3
-.2
.2
-.3
-.1
*
.2
.3
.4
1.8
6.6
1.3
.8
-3.8
-1.5
4.5
-8.1
1.7
-1.9
-1.8
4.1
.1
*
1.0
.5
-5.4
-.3 1 ET PURCHASES, BY SECTOR
17
H OUSEHOLDS
NONFIN. CORPORATE BUSINESS
COMMERCIAL PAPER
SECURITY RP»S
18
19
20
21
MONETARY AUTHORITIES
COMMERCIAL BANKING
MUTUAL SAVINGS BANKS
COMMERCIAL PAPER
SECURITY R P»S
22
23
24
25
26
LIFE INSURANCE COMPANIES
INVESTMENT COMPANIES
REST OF THE WORLD
27
28
29
OTHER TYPES
1
2
3
5.0
.6
4.3
.1
-.3
.4
1.8
-.1
1.9
2.8
*
2.8
2.9
.9
2.0
3.5
-1.0
4.5
1.1
*
1.0
-2.2
-1.1
-1.1
2.4
.3
2.1
1.9
*
1.9
4
5
6
7
8
9
10
11
3.4
.4
*
.3
.1
.7
-.3
2.1
2.5
.3
-.1
.6
.3
.1
1.3
3.2
.4
*
.4
.2
.4
1.8
2.9
.4
*
.1
.2
.3
1.8
3.5
.3
.1
.8
.3
.3
1.7
5.5
.2
.3
.8
1.1
.8
.7
1.7
3.3
.7
-.4
-.5
.2
.4
.2
2.7
8.3
.7
1.0
1.3
*
.3
1.0
3.9
-.7
.5
-3.2
-2.3
.2
.1
1.2
2.9
4.0
.6
.4
-.4
.2
.7
.6
1.9
1.5
.7
.3
-.6
.2
.7
-1.9
2.0
12
.4.8
2.3
-2.0
.8
8.5
9.3
-2.4
-11.0
-2.8
1.2
3.1
13
14
15
.6
.2
4.0
.7
.3
1.3
.7
*
-2.7
.4
.3
*
1.1
.3
7.2
1.7
1.0
6.7
1.1
.4
-3.9
.5
-1.1
-10.5
2.4
.5
-5.7
.8
.6
-.2
.7
1.7
.7
16
17
18
2.6
.1
2.5
2.3
.1
2.2
1.0
•
1.0
.9
*
.9
2.2
*
2.2
2.7
«
2.7
1.5
*
1.5
1.9
1.9
1.4
•
1.4
1.5
*
1.5
1.2 POLICY LOANS (HH LIABILITY)
*
ASSET-U.S. G OVERNMENT
1.2
LIFE INSURANCE COS.
19
-
_
_
_
_
_
_
_
_
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
_
2.1 FINANCE CO. LOANS TO BUSINESS
1.0
LIA8.-NONCORPORATE BUSINESS
1.2
NONFIN. CORP. BUSINESS
LIAB.-HOUSEHOLDS
FARM BUSINESS
NONFARM NONCORP. BUS.
NONFIN. CORP. BUSINESS
S. ♦ L. GOVERNMENTS
SPONS. CREDIT AGENCIES
REST OF THE WORLD
5
6
7
8
9
10
11
SPONSORED CREDIT A GENCY LOANS
LIABILITY OFFARM B USINESS (FICB)
NONFARM NONCORP. BUS. (BC)
S*L ASSOCIATIONS (FHLBI
12
HYPOTHECATED DEP. (HH LIAB.)
ASSET-COMMERCIAL BANKS
13
14
15
16
17
18
10 FEBRUARY 1976
SECURITY C R E D I T , TRADE CREDIT, ANO TAXES
40
SECU R I T Y CREDIT, TRADE CREDIT, AND TA XES
SECIRITY CREDIT, TRADE CREDIT, AND TAXES PAYABLE
UNAOJUSTED N E T FLOWS
U NADJU S T E D N E T FLOWS
1975 UNADJUSTED NET FLOWS U
I
II
III
MILL.)
IV
1962
1963
YEA R TOTALS (* BILL.I
1964
1965
1966
1 967
1968
SECURITY CREDIT
1 NET CHANGE IN LIABILITIES
2
HOUSEHOLDS
3
FOREIGN
-137
344
16
2.351
1.266
24
-3.816
-519
110
5.790
353
7
•8
-.i
*
2.8
2.0
*
.2
-.2
•
1.1
.7
*
.8
-.1
*
4
5
6
7
7.0
3.7
.2
6.6
2.9
.2
1
2
3
-497
-*88
-259
450
1.061
1.075
-39
25
-3.407
-3.043
21
-385
5.430
4.945
110
375
1.0
1.1
-.2
*
.8
.2
.4
.2
.4
.2
*
.2
.4
-.3
-.3
.9
.8
.6
.1
.2
3.2
.8
3.5
1.0
2.3
2.4
4
5
6
7
-13 7
394
1.131
2.351
—6
1.030
-3.816
-263
-3.847
5.790
358
5.154
*8
*
1.0
2.8
.2
1.0
.2
.2
.4
1.1
.9
-.2
.8
.2
.6
7.0
2.2
1.5
6.6
8
2.1 9
1.3 10
544
56
1.296
31
416
-122
261
17
-.2
*
1.5
*
-.5
•
•4
*
•
♦
3.2
•1
2.8 11
.3 12
-8.311
141
-382
1.757
5.055
139
-539
2.619
10.237
M7
460
3.152
4.254
135
989
-8.919
13.2
.2
.7
-.7
12.0
.3
.9
-1.2
11.1
.4
.8
.7
18.9
.5
.3
*
1
2
3
4
NONFIN. CORPORATE BUSINESS
STATE ♦ LOCAL GOVE R N M E N T S
U.S. GOVERNMENT
FOREIGN
9 .539
235
-241
-282
2.512
224
113
-13
6.702
227
9
-450
11.511
224
514
6.9
.3
9 NET CHANGE IN ASSETS
10
NONFIN. CORPORATE BUSINESS
11
U.S. GOVERNMENT
12
OTHER INSURANCE COMPANIES
13
FOREIGN
12.1
.4
.5
-.1
10.6
.5
.7
.3
7.4
•6
•6
.5
17.2
.6
*
.4
5
6
7
8
6.422
6.834
119
8.726
8.684
407
78
-443
5.395
4.866
491
57
-19
8.7
218
3.789
2. 9 3 4
520
77
258
14.7
14.0
.4
.2
.1
14.0
12.0
1.2
.2
.5
10.5
8.3
1.5
.3
.4
20.4
18 .6
.6
.3
.9
9
10
11
12
13
-1.889
1.266
1.511
-1.141
-1. 5
-2.0
.6
-2.019
-6.179
-5.461
BROKERS ♦ DEALERS
FROM COMMERCIAL BANKS
FROM F O R EIGN B A N K I N G AGS.
CUSTOMER C R E D I T BALANCES
8 NET CHANGE IN ASSETS
9
HOUSEHOLDS
10
COMMERCIAL BANKING
11
12
BROKERS ♦ DEALERS
FOREIGN
TRADE C R E D I T
1 NET CHANGE IN LIABILITIES
2
HOUSEHOLDS
3
FARM BUSINESS
4
NONFARM NONCORP. BUSINESS
IPAYABLES LESS RECEIVABLES!
5
6
7
8
14 DISCREPANCY
5.4
.2
7.6
.6
.2
.6
-.1
-.3
3.8
.1
7.4
.2
-.2
-200
4.9
4.6
.2
.2
- .1
6.8
6 .2
8 .2
.2
.2
.1
-1.5 14
PROFIT TA X E S PAYABLE
1 N E T CHANGE IN TAXES PAYABLE
2
NONFIN. CORPORATE BUSINESS
3
MONETARY AUTHORITIES
4
COMMERCIAL BANKS
5
SAVINGS ♦ LOAN ASSOCIATIONS
6
LIFE INSURANCE C OMPANIES
7
OTHER INSURANCE C O M PANIES
8
FINANCE COMPANIES
9
BROKERS ♦ DEALERS
10 NET CHANGE IN TAXES RECEIVABLE
11
STATE ♦ LOCAL G O V E R NMENTS
12
U.S. G OVERNMENT
13 DISCREPANCY
660
476
-1 1
3.000
2.968
4
-233
-33
-30
-46
38
55
15
50
37
-2.465
56
-2.521
-7.773
57
-7.830
1.277
252
1.025
446
1.594
- 2 .2 2 2
-267
175
44
155
27
53
16
122
0
-500
2
1.2
1.6
*
-.5
.1
*
*
*
*
1.2
.5
.5
.2
*
.1
-.1
-.1
*
1.7
2.2
-.5
-.1
*
*
.1
.1
*
.2
.2
*
*
*
.1
*
*
*
-4.9
-4.7
•
-.1
*
-.1
*
-.1
.1
3.0
2.9
35
-67
-4
36
28
1.5
.9
*
.5
*
.1
*
*
*
3.683
283
3.400
.7
.1
.6
2.0
.2
1.8
.9
.1
•8
.9
.1
.8
-1.3
.1
-1.4
-4.9
.2
-5.1
1.5 10
.3 11
1.3 12
.9
-.8
.3
.8
1.4
*
-.8
-2.9
-2. 4
-2 .1
-.3
0
PROPRIETORS* EQUITY IN N O N CORPORATE BUSINESS
1 TOTAL HOUSEHOLD INVESTMENT
2 FARM BUSINESS
3 NO N F A R M N O NCORPORATE BUSINESS
-1.393
-1.589
196
-569
“ 909
3*0
- 1 .416
-1 .420
4
IV/75 BASED O N INCOMPLETE AND PRELIMINARY INFORMATION.
-1.628
-919
-709
-.9
-1.7
-1.3
-1.7
.3
-1.9
-2.5
.6
-1. 9
2.3
2 .1
.2
- 2 .2
2.4
10 FEBRUARY 1976
SECURITY CREDIT, T RADE CREOIT, AND TAXES
S ECURITY CREDIT, TRADE CREDIT, AND TAXES
SECURITY CREDIT, TRADE CREDIT* ANO TAXES PAYABLE
SEASONALLY ADJUSTED ANNUAL RATES
1969
1970
1971
41
(BILLIONS OF DOLLARS)
1972
1973
1974
1975
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ 1 ANNUAL RATES
I
II
III
IV
SECURITY CREDIT
1
2
3
-6.7
-3 . 4
-.2
-.8
-1.8
*
3.8
2.6
*
8.9
4. 7
•1
-8.2
“*•6
-.2
— 4.6
-2.1
♦
4.2
1.4
•2
10.6
1.4
.1
9.3
5.1
.1
-14.3
-2.1
.4
4
5
6
7
- 3.0
-1.0
“
-2 . 0
1.0
1.9
-1.0
1.1
.7
.5
4.1
3.8
.1
.2
-3. 4
-2.8
-.4
-.2
-2.5
-2.1
*
-.3
2.6
2.3
-.2
.5
9.2
8.4
-1.0
1.8
4.1
4.2
-.2
.1
-12.7
-11.2
.1
-1.5
8
9
10
—6.7
-1.8
-1.1
-.8
- .9
1.4
3.8
.5
.8
8.9
.1
4.8
-8.2
-.2
-3.4
-4.6
-.3
-2 . 4
4.2
.5
1.2
10.6
1.6
6 .6
9.3
•
4.0
-14.3
-l.l
-14.5
11
12
-3.5
-.2
-1.3
-.1
2.5
*
3.9
.1
-4.6
*
-1.8
*
2.5
*
2.2
.2
5.2
.1
1.7
-.5
1
2
3
4
22. 7
.5
.7
- .5
10.0
.5
.9
.2
6.1
.3
l.l
.3
17.0
.6
1.5
.2
23.7
•6
1.5
-1.0
22.8
• 4>
1.2
-.9
11.2
•6
.5
-1.4
-21.8
.6
-1. 2
-1.8
12.0
.6
-1. 7
*
26.5
.5
1.5
-1.7
28.3 NET CHANGE IN LIABILITIES
.5
H O U SEHOLDS
3.6
FARM BUSINESS
- 1.4
NON F A R M NONCORP. BUSINESS
(PAYABLES LESS RECEIVABLES)
1
2
3
4
5
6
7
21.0
.5
-. 3
7.4
.5
-. 6
1 .0
3.8
.7
-.7
.5
13.7
.7
-.1
.5
19.6
1.1
.1
1.9
18.1
.9
-.1
3.0
11.2
.9
.4
-.9
-18.0
.9
-1.1
-l.l
10.4
.9
2.0
-.1
27.4
.9
-.3
-1.8
24.4
.9
1.0
-.8
NONFIN. CORPORATE BUSINESS
STATE ♦ LOCAL GOVERNMENTS
U.S. GOVERNMENT
FOREIGN
5
6
7
8
9
10
11
12
13
24.8
2 2.7
.9
.4
.8
9.4
8.4
-.8
.5
1.4
4.4
5.7
-1.7
.3
.1
21.2
20.0
-.8
1.2
.8
26.0
24.1
.3
.7
1.0
23.6
20.8
.9
•6
1.4
11.5
9.7
1.5
.3
•
-28.6
- 3 0.3
.5
.3
.9
11.9
8 .5
2.1
.3
1.0
27.0
26.9
1.6
.3
-1.8
35.6 NET CHANGE IN ASSETS
33.5
NONFIN. CORPORATE BUSINESS
2.0
U.S. GOVERNMENT
.2
OTHER INSURANCE COMPANIES
-.1
FOREIGN
9
10
11
12
13
1.7
-4.1
-2.3
-.8
-.3
6.8
.1
-.6
-7.3 DISCREPANCY
14
11.2 NET CHANGE IN LIABILITIES
1.4
HOU S E H O L D S
*
F OREIGN
9.7
7.8
.4
1.5
BROKERS ♦ DEALERS
FROM C O M MERCIAL B A M S
FROM FOREIGN BANKING AGS.
CUSTOMER CRE D I T BALANCES
11.2 NET CHANGE IN ASSETS
1.4
H OUSEHOLDS
8.6
C OMMERCIAL BANKING
1.0
.1
B ROKERS ♦ DEALERS
FOREIGN
1
2
3
4
5
6
7
8
9
10
11
12
TRADE CREDIT
8
.8
PROFIT TAXES PAYABLE
1
2
3
4
5
6
7
8
9
-3.1
- 3.3
*
.1
•
.1
.1
*
-.1
-3. 1
-3.7
*
.3
*
.1
.1
*
“
1.8
2.0
*
*
.1
-.1
-.1
*
*
-.1
-.1
*
-.2
*
*
.1
*
*
2.7
2.3
.1
.1
*
*
*
.1
*
4. 7
4.4
.1
.1
.1
•
*
.1
-.1
- 4.5
-4.2
-.2
-.3
.1
-.1
*
.1
*
-15.2
-14.1
-l.l
-.2
.1
-.1
*
.1
*
-11.1
-11.2
.5
-.5
.1
-.1
*
.1
-.1
-.1
.1
*
-.5
.1
-.1
*
.1
.1
10
11
12
-3.0
*
-3.0
-2.5
.1
-2.6
1.8
.3
1.5
-.5
.3
-.8
1.6
.6
1.0
1.3
.6
.7
-5.3
.6
-5.9
-16.3
.2
-16.6
-12.0
.2
-12.2
-.8
1.0
-1.8
13
-►1
-.7
.4
1.1
3.4
.7
1.1
.9
.6
-2.3
-3.6
1.4
-5.7
-5.7
*
* •
8.4 NET CHANGE IN TAXES PAYABLE
8.2
NONFIN. CORPORATE BUSINESS
*
MONETARY AUTHORITIES
-.1
C O M MERCIAL BANKS
.1
SAVINGS ♦ LOAN ASSOCIATIONS
-.1
LIFE INSURANCE COMPANIES
O T H E R INSURANCE COMPANIES
.1
FINANCE COMPANIES
.1
BROKERS ♦ DEALERS
8.0 NET CHANGE IN TAXES RECEIVABLE 10
1.1
STATE ♦ LOCAL GOVERNMENTS
11
6.8
U.S. GOVERN M E N T
12
.4 DISCREPANCY
PROPRIETORS' EQUITY IN NONCORPORATE BUSINESS
1
2
3
-.2
-2.9
2.7
-1.9
-3.0
1 .0
-3.3
-3.1
-.2
-3.5
-5.0
1.5
.1
-5.1
5.3
-4.6
-9.4
4.8
IV/75 BASED O N INCOMPLETE AND PRELIMINARY INFORMATION.
-5.0
-4.8
-.2
-5.6
-6.4
.8
1
2
3
4
5
6
7
8
9
-6.5 TOTAL HOUSEHOLD INVESTMENT
-3.7 FARM BUSINESS
-2.8 N O N F A R M NONCOR P O R A T E BUSINESS
13
10 FEBRUARY 1976
MISCELLANEOUS I
42
MISCELLANEOUS I
MISCELLANEOUS FINANCIAL CLAIMS
UNADJUSTED NET FLOWS
UNADJU S T E D NET FLOWS
1975 UNADJUSTED NET FLOWS
I
III
II
1 NET CHANGE IN LIABILITIES
2
HOUSEHOLDS
3
4
NONFIN. CORPORATE BUSINESS
U.S. GOVERNMENT
5
TOTAL FINANCE
SPONSORED CREDIT AGENCIES
MONETARY AUTHORITIES
COMMERCIAL BANKING
6
7
8
9
10
11
12
13
SAVINGS ♦ LOAN
MUTUAL SAVINGS
LIFE INSURANCE
NONLIFE INSUR.
REITS
ASSNS.
BANKS
COMPANIES
COMPANIES
(* MILL.)
IV
4.779
107
YEAR TOTALS I* BILL.)
1964
1966
1965
1962
1963
3.2
7.4
.2
.1
- .1
6.9
.2
*
-.3
.2
*
-.3
.1
- .1
1 .0
.1
4.3
4.0
- .1
.1
.1
1967
1968
.1
10.5
.3
.3
-.4
.1
15.4
.4
.3
.7
4.9
8.4
.1
*
.2
- .1
1.4
1 .8
5.0
7.0
.5
*
2.3
10.582
104
340
▼377
3.620
105
679
143
6.913
106
-124
-365
4.143
469
-52
1.185
-2.013
-247
271
-4.629
6.975
-610
162
3.926
554
-531
-1.098
*
-.9
572
-177
946
58
-117
1.451
544
185
1.568
-830
-474
1.177
.2
.1
.2
1.0
.8
1.200
0
1.200
0
.7
.1
.1
1 .2
.7
1 .1
1.3
1.5
1.200
0
1.200
0
0
-135
-2
.1
*
*
2.3
*
7.7
.3
12.0
.4
.4
*
1 .2
1 .8
.4
.1
1 .6
2 .1
1
2
3
4
1 1.8
5
-.3
6
.1
7
7.6
8
.4
9
. 1 10
1.5 11
2.5 12
- 13
6.372
4.706
321
4.809
2.0
3.2
3.1
2.5
3.4
2.9
2 .1 14
15 NET CHANGE IN ASSETS
16
HOUSEHOLDS
17
FARM BUSINESS
18
NONFARM NONCORP. BUSINESS
19
NONFIN. CORPORATE BUSINESS
20
U.S. GOVERNMENT
5.471
802
189
243
1.946
170
6.955
807
180
245
2.334
145
6.166
809
183
245
1.514
194
9.156
813
301
280
1.597
129
4.6
.5
«
6.3
.5
7.8
.9
6.8
.2
.2
2 .1
.2
1.3
.2
12 .6
1 .2
.2
.3
3.4
*
.4
3.7
.4
9.9
1.5
.3
.4
3.5
- .1
12.9 15
1.8 16
.4 17
.5 18
2.4 19
21
22
4.128
-65
3.402
2.840
-292
2.553
1.426
371
819
3.178
-578
2.728
1.8
3.3
2.8
*
.7
4.6 21
* 22
3.4 23
1.137
196
235
347
279
236
.9
.1
.2
- . 1 24
211
.3
-777
-494
660
74
238
281
-225
.9
0
-412
216
237
412
-217
-2 .007
404
1.795
2.858
-.3
5.111
-3.335
747
-4.377
-1.4
-2.438
-2.075
-363
-1.400
-39
-1.361
1.920
421
1.499
1.699
1.776
-77
- .1
- .2
.1
.4
.1
.2
.6
.1
14
23
24
25
26
27
28
29
REST OF THE WORLD
TOTAL FINANCE
SPONSORED CREDIT AGENCIES
COMMERCIAL BANKING
SAVINGS * LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
REITS
REST OF THE WORLD
30 UNALLOCATED, NET
.1
2 .1
•4
*
.6
.3
2.8
.5
*
1 .8
-.1
3.0
*
1.5
2.0
.1
.7
.6
.1
.2
.3
.4
.2
.1
.5
- .1
1 .2
- . 2 20
.8
.1
.6
.1
.3
.3
-
.5
.3
-
1.0
.8
-.4
3.4
1 .6
3.4 29
1 .1
-.9
.9
-.7
.7
2.5 30
.1
.5
-
.9
.1
.8
.3 25
.6 26
.4 27
. 1 28
(A) FOREIGN CLAIMS
COMMERCIAL BANK LIABILITY
TO FOREIGN AFFILIATES
ASSET-REST OF THE WORLD
31
LIAB.-COMMERCIAL BANKS
32
33
FOREIGN BANKING AGS.
DIRECT FOREIGN INVESTMENT
BY U.S. CORPORATIONS
LIAB.-REST OF THE WORLD
-.2
2.9
2.7
.3
.7
.4
.5
2.3 31
1.8 32
.5 33
.3
.2
1.470
2.135
661
690
1.7
2.0
2.3
3.3
3.0
2.7
1 . 1 34
DIRECT FOREIGN INVESTMENT
IN U.S.
35
LIAB.-NONFIN. CORP. BUSINESS
340
679
-124
0
.1
*
*
.1
.1
.3
.3 35
U.S. GOVT. EQ. IN IBRD, ETC.
36
LIAB.-REST OF THE WORLD
151
151
190
161
.1
.1
.1
.1
.1
.1 36
2.801
76
19
3.174
-468
2.315
1.261
500
-32
611
182
.1
- .1
.3
- .2
.1
.1
-.4
-.3
*
-.1
.1
- .2
- . 1 39
3.371
-850
- 1.010
450
4
-1.790
326
0
0
0
0
- .1
496
-168
-476
405
95
0
10
0
64
220
0
42
32
33
150
37
7
26
*
*
*
*
34
37
38
39
40
41
F OREIGN CURR. EXCEPT OFFICIAL
LIAB.-REST OF THE WORLD
ASSET-NONFIN. CORP. BUSINESS
U.S. GOVERNMENT
COMMERCIAL BANKS
FOREIGN BANKING AGS.
-200
-6
.1
*
*
*
-.1
*
*
*
.3
*
*
.4
.4
.1
.5 37
.5 38
- .1
*
.3
*
*
- .1
- .1
- .2
-.1
*
-.2
*
.4
* 43
*
*
.1
.3
.1
*
- .2 44
-.3 45
*
*
*
*
.1 46
*
*
*
* 40
* 41
(B) U. S. GOVERNMENT CLAIMS
POSTAL SAVINGS DEPOSITS
(LIAB .— U.S. GOVT.)
42
ASSET-HOUSEHOLDS
DEPOSITS AT FHLB
(ASSET-S+L ASSOCIATIONS)
LIAB.-SPONSORED CREDIT AGS.
43
44 EQ. IN U.S. GOVT. CREDIT AGS.
45
U.S. GOVERNMENT
PRIVATE
46
FARM BUSINESS (FICB ♦ F L B )
47
NONFARM NONCORPORATE (B C )
48
NONFIN. CORP. BUS. (F N M A )
49
S*L ASSOCIATIONS (FHLB)
0
0
53
2
0
-24
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
0
2
3
26
*
.1
*
*
*
*
*
*
*
*
*
*
*
*
.1
.1
.1
- .1
-
- .1
-.1
42
* 47
* 48
♦ 49
10 FEBRUARY 1976
MISCELLANEOUS I
MISCELLANEOUS I
43
MISCELLANEOUS FINANCIAL CLAIMS
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
1 1 .0
.4
.3
22.7
.5
3 6. 7
.4
2.5
-.4
36.3
•4
2 .2
1 .0
.9
-.7
2 7.8
17.9
1.3
- 2 .2
11.7
•2
-.2
- .6
1 .0
-.4
.5
- .1
.8
5.0
2.5
3.6
-.5
18.3
•3
- .1
- .1
2 .2
.8
-2. 7
9.3
17.5
.5
16.9
.2
.6
.1
1.4
3.3
1.7
3.4
.4
10
11
12
10.2
.8
1 .2
.1
2 .1
3.6
13
.9
.2
.6
2.9
4.8
2.7
3.2
28.1
.4
1.4
.7
22.3
.4
2.7
-1.3
24.2
1.9
1.2
-.2
-8.2
-. 4
.2
1.1
-10.0
16.3
-1.8
5.1
4.8
1.0
-1.2
4.5
4.8
-.2
-1.3
5.0
4.8
9.1
.3
.3
2.9
3.9
-.6
29.1
.4
-3.6
HOUSEHOLDS
NONFIN. CORP O R A T E BUSINESS
U.S. GOVERNMENT
4.8
18.8
1.1
-2.1
11.0
TOTAL FINANCE
SPONSORED CREOIT AGENCIES
MONETARY AUTHORITIES
COMMERCIAL BANKING
1.1
.2
6.6
4.8
-.5
*
4.6
4.8
1.4
14
2.4
4.0
5.6
3.5
6.3
14.8
16.2
23.8
20.9
6.6
15
16
17
18
19
20
18.2
2.1
.4
.7
3.0
.1
12.1
2.6
.5
.7
4.2
.3
6.0
2.3
.6
.8
6.2
.1
16.6
2.7
.7
1.0
5.2
.1
32. 4
1.5
.7
1.0
7.9
1.0
39.3
2.2
.8
1.0
8.6
-.1
27.7
3.2
.9
1.0
7.4
.6
23.2
3.2
.8
1.0
4.2
.7
23.7
3.2
.7
1.0
9.3
.6
29.6
3.2
21
22
23
3.9
.3
2.8
9.5
.8
5.0
2.8
.2
1.2
3.6
-. 4
2.3
12.8
1.7
7.2
17.8
-.3
15.0
11.6
-.6
9.5
15.7
.1
13.6
24
25
26
27
28
-.4
*
.9
.3
.1
2.2
.3
.8
*
.3
.1
.2
.9
.1
*
.1
.4
1.0
.1
.2
1.5
.3
.9
.1
1.1
2.1
.2
.9
.9
-1.0
1.7
.8
.9
.9
-1.7
3.4
.8
.9
-3.1
29
8.0
-5.6
-6.8
3.4
7.6
9.0
3.1
-2.4
-1.0
9.4
6.1
30
8.1
-1.1
4.3
6.1
4.3
-3.1
-1.9
4.9
-1.5
-5.4
- 5.3
13.6
SAVINGS ♦ LOAN
MUTUAL SAVINGS
LIFE INSURANCE
NONLIFE INSUR.
REITS
ASSNS.
BANKS
COMPANIES
COMPANIES
REST OF THE WORLD
9
10
11
12
13
14
1.0
6.6
.8
34.5 NET CHANGE IN ASSETS
3.3
HOUSEHOLDS
1.2
FARM BUSINESS
N ONFARM NONCORP. BUSINESS
1.1
9.4
NONFIN. CORPORATE BUSINESS
.5
U.S. G O V ERNMENT
15
16
17
18
19
20
10.0
-1.5
10.2
7.8
1.0
3.3
12.8
-1.7
10.9
T OTAL FINANCE
SPONSORED CREOIT AGENCIES
COMMERCIAL BANKING
21
22
23
1.0
.5
.9
.8
-2.0
1.1
.9
1.6
1.9
.6
1.0
1.1
-.9
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
REITS
24
25
26
27
28
REST OF THE WORLD
29
(A) FOREIGN CLAIMS
-9.8
-8.3
-1.5
-5.6
-.2
-5.4
7.7
1.7
6.0
COMMERCIAL BANK LIABILITY
TO FOREIGN AFFILIATES
6.8
ASSET-REST OF THE WORLD
7.1
LIAB.-COMMERCIAL BANKS
-.3
FOREIGN BANKING AGS.
3.8
2.3
8.5
3.2
5.8
1.0
-.1
1.4
2.7
-.5
-
DIRECT FOREIGN INVESTMENT
IN U.S.
L IAB.-NONFIN. CORP. BUSINESS 35
.2
.3
.6
.6
.8
.6
U.S. GOVT. EQ. IN I B R D • ETC.
LIAB.-REST OF THE WORLD
36
FOREIGN CURR. EXCEPT OFFICIAL
LIAB.-REST OF THE WORLD
ASSET—N O N F I N . CORP. BUSINESS
U.S. G O VERNMENT
COMMERCIAL BANKS
FOREIGN BANKING AGS.
37
38
39
40
41
31
32
33
7.9
6.8
1.2
-6.9
-7.2
.2
-4.1
-4.8
.7
34
2.2
3.6
35
.8
36
.2
37
38
39
40
41
-.5
-.4
-.1
*
*
.5
-.4
*
.1
.8
1.4
1.4
-.2
.2
*
.9
.5
2 .2
- .2
.1
2.4
-.3
4.6
3.6
4.8
1 .8
-.2
.2
2 .6
1.7
1.4
.2
5.4
.8
-.7
-7
1.3
5.4
- .8
11.2
.3
.1
12.7
-1.9
9.3
-.8
*
13.5
-3.4
-4.0
1.8
*
-7.2
1.3
5.0
2.0
-.1
2.4
.7
31
32
33
DIRECT FOREIGN INVESTMENT
B Y U.S. CORPOR A T I O N S
LIAB.-REST OF THE WORLD
(B) U. S. GOVERNMENT CLAIMS
42
-
POSTAL SAVINGS DEPOSITS
(LIAB.-U.S. GOVT.)
ASSET-HOUSEHOLDS
-
43
-.3
1.3
-.5
-.2
1.6
44
45
.2
.3
-
.1
.3
.2
.1
.3
46
47
48
49
.1
*
.1
.1
.1
.1
*
*
*
.2
*
.1
*
-
.1
*
*
.2
*
.1
.1
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
-.4
*
DEPOSITS AT FHLB
(ASSET-S+L ASSOCIATIONS)
-.2
L I AB.-SPONSORED CREDIT AGS.
42
43
1.0 EQ. IN U.S. GOVT. CREDIT AGS. 44
U.S. G OVERNMENT
45
PRIVATE
.6
FARM B U S INESS (F1CB + F L B ) 46
.1
N ONFARM NONCORPORATE (B C ) 47
*
NONFIN. CORP. BUS. (FNMA) 48
.2
S+L ASSOCIATIONS (FHLB)
49
10 FEBRUARY 1976
MISCELLANEOUS II
44
MISCELLANEOUS II
MISCELLANEOUS FINANCIAL CLAIMS (CONTINUED)
UNADJUSTED NET FLOWS
UNADJU S T E D NE T FLOWS
1975 U NADJUSTED NET FLOWS
I
II
III
<$ MILL.)
IV
1962
1963
YEAR TOTALS (* BILL.)
1964
1965
1966
1967
1968
(C) LIFE INSURANCE CLAIMS
DEFERRED AND UNPAID PREMIUMS
(ASSET-LIFE INSURANCE)
1
LIAB.— HOUSEHOLDS
104
105
106
107
.2
.2
.2
LIFE COMPANY RESERVES
(ASSET-HOUSEHOLDS)
2
LIAB.— LIFE INSURANCE COS.
3
ACCIDENT AND H EALTH
4
POLICY DIVID E N D ACCUM.
392
159
2 33
397
162
235
402
165
237
407
168
239
.6
.1
.2
.1
.1
1.200
1.200
1.200
1.200
410
147
243
400
410
148
243
399
407
150
243
400
406
151
243
400
.7
*
*
.1
.6
.5
.3
.4
.3
.4
1
.6
.2
.7
.8
.1
.2
.3
.5
.5
.3
.5
.9
.3
.5
3
4
1.5
.7
1 .8
.4
2
(D) NONLIFE INSURANCE CLAIMS
5
6
7
8
9
LIAB.-OTHER INSURANCE
ASSET-HOUSEHOLDS
FARM B USINESS
N ONFARM NONCORP. BUS.
NONFIN. CORP. BUSINESS
1 .1
.4
1.3
.5
.1
.2
.2
.2
.3
.3
.7
.1
.2
.3
.4
.4
.6
2 .1
.8
.2
.4
.7
2.5
.9
.3
.5
.8
5
6
7
8
9
(E) UNALLOCATED ASSETS ♦ LIAB.
10 NET TOTAL (LIAB. LESS ASSETS)
5.111
-3.335
747
-4.377
-1.4
1 .1
-.9
.9
-.7
.7
2.5 10
11
12
5.971
-181
-196
3.980
-154
-1.371
3.3
*
2.6
3.4
.4
7.5 1 1
-198
162
-13
-71
-531
2.0
- .1
- .2
2.3
-2 11
- .2
- .1
.1
NE T CHANGE IN LIABILITIES
U.S. G OVERNMENT
U.S. GOVT.-WITHOUT LEVELS
SPONSORED CREDIT AGENCIES
MONETARY AUTHORITIES
-52
-1.804
-166
309
-89
271
COMMERCIAL BANKING
COMMERCIAL BANKS
BANK AFFILIATES
FOREIGN BANKING AGENCIES
BANKS IN U.S. POSS.
-31
1.156
-835
-389
37
-186
-928
165
529
48
-3.345
-2.579
-237
-546
17
3.749
3.284
199
249
17
- .2
2 .1
-.4
1.7
.1
.1
.2
.2
FLOATS IN COML. BANK STMNT
ON INTERBANK DEPOSITS
ON INTERBANK LOANS
LESS: ON MEMBER BK. RES.
3.654
1.574
867
-1.213
-3.043
-3.580
1.398
861
5.351
1.391
2.913
-1.047
-6.546
239
-6.661
124
- .6
-.6
.1
.1
- .1
23
24
25
26
27
28
29
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE
REITS
REST OF THE WORLD
572
-177
554
58
-117
1.054
544
185
1.166
-830
-474
770
.1
.2
.1
-
_
13
14
15
16
17
18
19
20
21
22
30
31
32
33
34
35
36
37
38
39
40
NET CHANGE IN ASSETS
SPONSORED CREDIT AGENCIES
COMMERCIAL BANKS
FOREIGN BANKING AGENCIES
BANKS IN U.S. POSSESSIONS
SAVINGS + LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE
PRIVATE PENSION FUNDS
REITS
REST OF THE WORLD
-12 2
0
0
0
0
*
*
_
*
.4
-.2
*
*
—
*
-.1
.1
.5
.1
- .1
.2
.4
.1
*
- .6
-.1
- .1
1.4
1.2
1.5
1.3
1.2
.6
1.7
1.4
.1
.1
.1
.1
.3
.3
*
.3
-.5
.3
.9
.5
-.4
*
-.6
- .2
- .2
.2
*
.4
_
.2
.2
.1
.1
.1
.5
_
.1
-.3
.4
*
.5
*
*
- . 1 14
. 1 15
5.1 16
4.1 17
18
.7 19
.3 20
- .2
.2
-.1
.4
.1
.9
_
105
480
2.697
*
.8
.6
-.4
*
.2
860
-65
899
-85
-118
1.531
-292
-954
1.048
-62
3.233
371
2.329
29
-75
3.006
-578
2.180
-266
1.3
*
.4
2 .2
- .1
1.4
3.3
2.7
*
.2
.9
1 .2
.1
.1
2.9
*
.5
.9
588
196
131
0
539
279
131
211
-777
91
-494
1.125
38
216
131
412
-217
229
74
131
281
-225
1.159
-1
21
*
.5
.1
.1
.2
_
-.3
.5
.1
.8
- .2
-.1
.1
*
.2
.1
-.7
.7
.7
.9
.4
.1
.2
.1
- .1
.1
.6
.2
.2
.1
.3
-
_
.6
.2
.1
.2
.3
-
-.5
.9
.2 12
- .2
1.950
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
-12 2
.1
*
.8
-
_
.4
.7
.5 13
.1 21
.5 22
- . 2 23
.2 24
.4 25
. 1 26
.6 2 7
28
.4 29
5.1
*
1.9
1.4
30
31
32
33
.1 34
*
.3
.3
.4
35
36
37
38
.1 39
.7 40
10 FEBRUARY 1976
MISCELLANEOUS II
MISCELLANEOUS II
45
MISCELLANEOUS FINANCIAL CLAIMS (CONTINUED)
(BILLIONS OF DOLLARS)
SEASONALLY AOJUSTEO ANNUAL RATES
SEASONALLY AOJUSTEO ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
(C) LIFE INSURANCE CLAIMS
1
.4
•4
.3
.5
.4
.4
.4
.4
.4
.4
DEFERRED AND U N P A I D PREMIUMS
(ASSET-LIFE INSURANCE)
.4
LIAB.-HOUSEHOLDS
1
2
3
4
2
3
4
1.0
.4
.6
1.2
.6
.6
1.1
.4
.6
1.3
.5
.8
1.4
.6
.9
1.5
.6
.9
1.6
.7
.9
1.6
.6
.9
1.6
.6
.9
1.6
.7
.9
LIFE C OMPANY RESERVES
(ASSET-HOUSEHOLDS)
1.6
LIAB.-LIFE INSURANCE COS.
.7
ACCIDENT AND HEAL T H
1.0
POLICY DIV I D E N D ACCUM.
5
6
7
8
9
3.3
1.2
.4
.7
1.1
3.4
1.4
.4
.7
.9
3.6
1.2
.5
.8
1.0
4.8
1.4
.6
1.0
1.9
3.2
.1
.6
1.0
1.6
3.9
.7
.6
1.0
1.6
4.8
1.6
.6
1.0
1.6
4.8
1.6
.6
1.0
1.6
4.8
1.6
.6
1.0
1.6
4.8
1.6
.6
1.0
1.6
4.8
1.6
.6
1.0
1.6
10
8.1
-1.1
4.3
6.1
4.3
-3.1
-1.9
4.9
-1.5
-5.4
-5.3 NET TOTAL (LIAB. LESS ASSETS)
10
11
12
13
14
15
11.0
-.3
-.1
.5
.5
6.0
-.6
1.2
.9
.4
4.5
*
.8
-.1
-.1
9.4
*
*
.3
-.1
18.5
-.4
1.4
.8
13.2
1.7
-.8
-.2
-2.2
6.8
-.6
-.1
-.5
-.2
13.8
-.7
1.4
-.6
-.2
-.1
-.7
-.7
.1
1.1
10.4
-.6
2.0
-1.7
.6
3.2
-.5
-3.1
.3
-2.1
11
12
13
14
15
16
17
18
19
20
5.9
3.7
.3
.8
1.1
4.0
2.4
1.0
.2
.5
1.9
2.1
.6
-1.3
.5
6.8
6.1
-1.3
1.6
.5
5.0
4.0
-1. 0
1.5
.5
11.1
11.0
-1.7
1.7
.1
.2
.9
-.7
-.2
.1
-5.0
-.3
-3.3
-1.6
.1
4.4
1.4
.7
2.1
.2
-17.0
-14.0
-.9
-2.2
.1
18.4
16.6
.8
1.0
.1
COMMERCIAL BANKING
COMMERCIAL BANKS
BANK AFFILIATES
FOREIGN BANKING AGENCIES
BANKS IN U.S. POSS.
16
17
18
19
20
21
22
23
24
3.1
-.5
3.5
*
-.8
-.1
-1.0
-.2
-.6
-l.l
1.0
.5
1.5
2.3
-.1
.7
11.4
1.4
10.3
.3
-4.0
-3.3
-.2
.5
-.6
-.4
-1.5
-1.3
6.6
4.9
1.8
.1
-8.8
-10.6
.7
-1.1
14.1
4.2
8.5
-1.5
-14.3
-16.9
-2.6
FLOATS IN COML. BANK STMNT
ON INTERBANK DEPOSITS
ON INTERBANK LOANS
LESS: ON M E MBER BK. RES.
21
22
23
24
25
26
27
28
29
.4
.2
.5
.4
.6
.1
.5
-.4
1.2
.1
1.1
.3
.9
.2
1.6
-1.9
.9
.6
1.3
-2.5
*
.3
1.4
5.9
.3
-.6
3.5
5.2
1.0
-1.2
2.9
9.6
-.2
-1.3
3.4
2.6
1.1
.2
5.0
6.7
-.5
*
2.9
2.1
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE
REITS
REST OF THE WORLD
25
26
27
28
29
30
31
32
33
34
2.9
.3
1.6
.3
.9
7.1
.8
1.2
2.7
.3
.3
.2
1.3
-.3
.1
3.3
-.4
2.0
-1.7
*
14.2
1.7
4.7
.8
.1
16.3
-.3
12.1
1.1
-.2
8.6
-.6
4.5
.7
-.2
8.9
.1
3.6
-.3
-.5
1.4
-1.5
-3.8
4.2
-.2
15.7
1.0
9.3
.1
-.3
8.6
-1.7
8.7
-1.1
.1
35
36
37
38
39
40
-.2
*
.5
.3
.1
-.8
.8
.3
.4
*
.3
.3
.6
.2
.6
.1
*
-2.6
.2
.4
.5
.1
.2
2.1
.9
.3
.5
.1
1.1
4.0
.8
.2
.5
.9
-1.0
2.2
1.4
.8
.5
.9
-1.7
2.4
1.7
.8
.5
-3.1
6.0
1.0
.5
.5
.8
-2.0
1.9
.9
1.1
.5
1.6
-.9
2.3
1.9
.6
.5
1.1
-.9
-.6
(0) NONLIFE INSURANCE CLAIMS
LIAB.-OTHER INSURANCE
ASSET-HOUSEHOLDS
FARM BUSINESS
NONF A R M NONCORP. BUS.
NONFIN. CORP. BUSINESS
5
6
7
8
9
(E) U NALLOCATED ASSETS ♦ LIAB.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
NET CHANGE IN LIABILITIES
U.S. GOVERNMENT
U.S. GOVT.— WITHOUT LEVELS
SPONSORED CREDIT AGENCIES
MONETARY AUTHORITIES
NET CHANGE IN ASSETS
SPONSORED CREDIT AGENCIES
COMMERCIAL BANKS
FOREIGN BANKING AGENCIES
BANKS IN U.S. POSSESSIONS
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE
PRIVATE PENSION FUNDS
REITS
REST OF THE WORLD
30
31
32
33
34
35
36
37
38
39
40
10 FEBRUARY 1976
TOTAL CLAIMS
46
TOTAL CLAIMS
TOTAL FINANCIAL ASSETS AND LIABILITIES
U NADJUSTED NET FLOWS
UNADJU S T E D N E T FLOWS
1975 UNADJUSTED NET FLOWS (8 MILL.)
IV
III
I
II
1962
1963
YEAR TOTALS ($ BILL.)
1964
1965
1966
1967
1968
114.4
TOTAL FUNDS RAISED AND ADVANCED IN C REDIT MARKETS (1)
1 TOTAL FUNDS RAISED IN CREDIT
MARKETS BY:
NONFINANCIAL SECTORS
U.S. G O V ERNMENT
FOREIGN
PRIVATE DOMESTIC
H OUSEHOLDS
FARM BUSINESS
N ONFARM NONCORP. BUS.
CORPORATE BUSINESS
S. ♦ L. GOVERNMENTS
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
FINANCIAL SECTORS
SPONSORED CREDIT AGENCIES
COMMERCIAL BANKS
BANK AFFILIATES
FOREIGN BANKING AGENCIES
SAVINGS ♦ LOAN ASSNS.
OTHER INSURANCE COMPANIES
FINANCE COMPANIES
REITS
OPEN-END INVESTMENT COS.
21 TOTAL FUNDS ADVANCED IN CREDIT
MARKETS BY:
PRIVATE DOM. NONFIN. SECTORS
HOUSEHOLDS
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
STATE ♦ LOCAL GOVERNMENTS
22
23
24
25
26
27
U.S. GOVERNMENT
28
29
30
FINANCIAL INSTITUTIONS
SPONSORED CREDIT AGENCIES
FEDERAL RESERVE SYSTEM
31.732
51.323
52.349
73.131
60.8
67.3
76.1
83.2
79.7
84.5
32.330
19.245
1.810
11.275
2.610
1.890
-1.663
5.163
3.275
49.157
16.615
2.976
29.566
11.822
2.282
247
11.017
4.198
48.189
23.451
2.775
21.963
9.943
1.590
1.400
5.650
3.380
67.584
25.906
4.465
37.213
18.950
984
2.559
12.334
2.386
53.4
7.0
2.1
44.3
20.6
2.3
3.2
12.4
5.9
57.9
4.0
3.3
50.6
25.1
2.6
4.5
12.5
6.0
67.7
6.3
4.5
57.0
28.0
2.6
5.3
14.9
6.3
69.9
1.8
2.7
65.4
28.3
3.3
5.7
20.4
7.7
67.9
3.6
1.5
62.8
22.7
3.1
5.4
25.3
6.3
82.4
13.0
4.0
65.4
19.3
3.6
5.0
29.6
7.9
95.9 2
13.4 3
2.8
4
79.7
5
30.0
6
2.8
7
5.6
8
31.5 9
9.8 10
-598
2.056
2.256
611
-557
-4.460
200
-2.258
-320
1.874
2.166
2.338
53
-175
104
-313
175
1.067
-563
-520
4.160
2.519
1.570
66
-i l l 53
1.901
175
-971
-346
399
5.547
3.398
-125
-320
636
827
175
1.646
-443
-247
7.4
1.5
.1
*
1.2
.1
2.7
1.7
9.4
1.4
.3
*
1.9
.3
4.0
1.5
8.4
.5
1.2
•
.3
.1
4.1
2.0
13.3
2.1
1.8
*
.8
.1
5.2
3.3
11.8
4.8
-.1
.1
.1
.1
3.1
3.7
2.1
-.6
.1
*
-1.7
.1
1.2
3.0
18.4
3.5
1.2
.1
1.1
.2
5.7
.7
5.9
31.732
51.323
52.349
73.131
60.8
67.3
76.1
83.2
79.7
84.5
6.558
1.883
307
2.052
2.316
464
-5.433
-27
7.241
-1.317
15.208
12.527
20
885
1.776
17.585
2.814
893
10.939
2.939
1.3
-1.9
.4
2.0
.8
6.3
2.3
.3
2.9
.8
7.6
5.6
.4
1.9
-.3
5.8
2.4
.4
.2
2.8
16.7
16.4
.5
-2 .0
1.8
*
-1.5
.4
1.4
-.3
—
1
11
12
13
14
15
16
17
18
19
20
114.4 21
14.0
5.3
.5
5.9
2.3
22
23
24
25
26
4.167
1.156
2.982
2.274
2.0
1.5
2.8
2.8
4.9
4.6
4.9 2 7
15.270
2.702
2.393
48.321
2.618
1.471
33.472
1.788
3.586
53.031
4.434
1.087
55.9
1.6
2.0
58.6
1.6
2.9
65.1
.7
3.4
75.0
2.2
3.8
60.0
5.1
3.5
77.3
-.1
4.8
93.1 28
3.2 29
3.7 30
31
32
33
34
35
-13.639
COMMERCIAL BANKING
-12.299
COMMERCIAL BANKS
BANK AFFILIATES
-224
FOREIGN BANKING AGENCIES -1.263
147
BANKS IN U.S. POSS.
15.467
15.703
-10
-328
18.633
17.929
-121
787
38
19.0
18.8
-
17.6
17.6
-.1
22.7
22.6
-
28.8
28.4
-
.1
.2
.1
35.9
35.3
.4
.1
.1
38.8
38.3
.5
.1
*
17.5
17.0
.4
102
6.093
6.042
-171
124
98
36
37
38
39
PRIVATE NONBANK FINANCE
SAVINGS * LOAN ASSNS.
MUTUAL SAVINGS BANKS
CREDIT UNIONS
23.814
8.384
3.365
960
28.765
12.472
3.440
1.754
22.005
11.578
1.981
1.437
28.877
8.118
1.748
1.014
33.3
10.3
3.2
36.6
13.3
3.4
.7
38.3
40.2
9.6
3.9
33.8
4.2
2.7
36.6
9.2
5.2
.9
.1
.1
.6
11 .0
4.4
.9
1.0
1 .1
40
41
42
43
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S. ♦ L. GOVT., RTR. FUND
OTHER INSURANCE COS.
4.842
3.620
2.371
1.248
3.881
2.899
4.440
1.317
5.096
2.882
2.271
1.591
3.802
3.014
3.877
1.547
6.5
4.0
2.3
1.5
6.7
4.3
7.4
4.5
3.0
.9
8 .2
8.0
5.2
3.3
6.3
4.2
1.9
44
45
46
47
FINANCE COMPANIES
REITS
OPEN-END INVESTMENT COS.
SECURITY BURS. ♦ DEALERS
-1.494
-148
1.707
-1.041
360
-963
-550
-285
-781
-744
508
-3.814
1.582
-724
-282
5.181
2.5
1.3
4.1
-
5.7
-
1 .1
1 .1
4.5
.9
-.7
5.737
1.382
687
241
1.5
.9
48
REST OF THE WORLD
2 .6
1 .0
31
32
33
34
.1 35
47.3 36
10.2 37
4.3 38
1.3 39
8.4
5.3
4.0
1 .8
9.0
5.8
4.7
2.7
2 .1
.9
2 .1
.1
2.5
.9
.6
1.3
*
5.1 4 4
.2 45
3.5 46
.5 47
.6
-.3
-1.9
2.7
2.4 48
1 .1
40
41
42
43
TOTAL CLAIMS AND THEIR RELATION TO TOTAL FINANCIAL ASSETS
TOTAL FUNDS RAISED (FROM
PRECEDING TABLE)
OTHER LIABILITIES:
2
OFFICIAL FOREIGN EXCHANGE
3
TREASURY CURR. + SDR CTFS.
31.732
51.323
52.349
73.131
60.8
67.3
76.1
83.2
79.7
84.5
114.4
1
321
167
13
311
317
199
-110
-.6
*
.9
1 .1
2 .1
2
260
*
*
.4
*
.1
.7
.4
3
DEPOSITS AT FINANCIAL INSTS.
6.154
BANKING SYSTEM
-12.284
DEMAND DEP. ♦ CURRENCY
-21.711
TIME ♦ SAVINGS DEPOSITS
9.427
18.438
SAVINGS INSTITUTIONS
43.041
24.570
21.030
3.540
18.471
13.430
2.952
-2 .485
5.437
10.478
40.990
28.590
19.678
8.912
12.400
33.9
39.0
23.2
40.5
27.4
7.3
14.6
15.9
2 0 .1
13.1
24.1
17.2
3.9
13.3
6.9
55.9
38.9
15.0
23.9
17.0
48.2
35.5
14.8
20.7
12.7
4
5
5.2
15.6
13.1
34.5
19.4
5.0
14.4
15.2
20 .1
9
1
4
5
6
7
8
20.8
*
8.6
.2
9
INSURANCE + PENSION RESERVES
8.548
15.101
7.615
10.379
12.7
14.1
15.6
17.0
19.4
19.6
10
11
12
-137
-8.311
-2.019
-1.393
10.582
2.351
5.055
-6.179
-569
3.620
-3.816
10.237
660
-1.416
6.913
5.790
4.2 54
3.000
-1.628
4.779
.8
2 .8
1 .1
.8
12 .0
.2
7.0
13
14
SECURITY CREDIT
TRADE DEBT
PROFIT TAXES PAYABLE
NONCORP. PROPRIETORS* EQUITY
MISCELLANEOUS
15
INTERBANK CLAIMS
372
-5.957
2.985
16 TOTAL LIABILITIES ABOVE
- FLOATS NOT INCL. IN ASSETS
17
DEMAND D E P OSITS— U.S. GOVT.
18
OTHER
19
TRADE CREDIT
- LIABILITIES NO T ALLOCATED
AS ASSETS
TREASURY C URRENCY
20
PROFIT TAXES PAYABLE
21
MISCELLANEOUS
22
23
TOTALS ALLOCATED TO SECTORS
AS ASSETS
46.016 108.110
7.6
1 .2
.1
-.3
7.4
-.5
6.9
3.2
.8
-.4
7.7
12 .0
1 1 .1
-4.9
- 1.8
10.5
6 .6 10
18.9 11
3.0 12
.9 13
15.4 14
-104
1.4
-.9
1 .6
.3
2.3
2.8
3.6 15
119.2
133.9
148.1
166.2
151.0
186.5
233.7 16
*
*
-.4
.5
-.7
.4
•
-1.5
-.3
-.9
- 2.0
- 1 .2
.1
.4 17
.5 18
-1.5 19
.1
.8
-988
-2.706
-1.889
-899
3.379
1.266
-180
-2 .498
1.511
1.964
5.485
-1.141
.4
-.4
.5
.8
31
446
5.111
-87
1.594
-3.335
67
-617
747
-33
-683
-4.377
*
.9
-1.4
*
.2
-.8
1 .1
.3
-.9
90.443 139.526
119.2
132.6
149.1
46.011 106.192
13.2
1.7
7
8
89.473 140.741
(1) INCLUOES C O R PORATE EQUITIES.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
5.4
1.5
.2
8.0
1 .2
6
.2
.6
.2
.2 20
.9
1.4
-.7
*
.7
1.5 21
2.5 22
165.5
153.2
186.1
230.0 23
10 FEBRUARY 1976
TOTAL CLAIMS
TOTAL FINANCIAL ASSETS AND LIABILITIES
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
TOTAL FUNDS RAISED AND ADVANCED IN CREDIT MARKETS (1)
1
125.6
110.9
164.0
198.5
239.3
218.1
208.5
174.8
200.8
216.8
2
91.8
-3.6
3.7
91.8
31.7
3.2
7.4
38.9
10.7
98.2
169.4
17.3
4.3
147.8
63.1
4.9
10.4
55.3
14.2
187.4
9.7
7.5
170.1
72.8
180.1
197.3
85.2
164.3
71.9
7.6
84.8
35.5
200.8
2.7
82.7
23.4
3.2
5.3
39.5
11.3
147.4
25.5
4.6
117.3
39.8
4.1
8.7
46.8
17.8
198.9
94.1
12.3
92. 5
41.7
7.6
4.5
26.0
11
12
33.8
12.7
29.1
13
14
15
16
17
18
19
1.4
4.2
-3.1
-1.9
52.0
19.6
4.5
.2
16.6
3.8
2.5
-.4
.1
1 .8
1 .6
- .1
.6
.8
2.0
3
4
5
6
7
8
9
10
8.8
20
4.1
.5
8.3
1.3
4.9
21
22
12 .8
8 .2
.4
1 .6
6 .2
4.0
.7
49.3
9.9
3.2
51.1
4.1
1.5
10 .0
2 .6
8.4
6 .0
9.0
6.9
1 1 .8
5.6
6 .1
6 .2
6 .2
48
.7
4.4
11.7
8.8
201.7
20.3
9.2
167.8
24.1
111.4
11.9
9.0
176.2
10.4
5.0
153.6
6 .2
150.1
11.5
8.5
159.2
17.7
.4
50.6
50.3
- .1
.1
68.8
-.2
1 .8
86.7
80.9
1.7
4.0
64.6
58.2
.9
5.0
.5
26.6
27.4
-.5
-.7
.4
-15.9
- 10 .6
-.9
-5.1
49.5
50.5
*
-1.3
.4
37.5
37.3
-.7
.5
.4
35.2
32.3
-.5
3.1
103.5
40.6
10.5
5.2
106.5
34.4
5.8
111.4
46.3
13.6
5.6
90.1
43.9
8.9
4.6
105.9
37.6
7.1
4.7
15.4
13.8
9.5
5.2
18.3
12.3
4.5
17.6
12.4
13.0
5.7
17.8
5.5
19.9
11.3
9.1
6.3
5.1
6.0
.5
9.4
6.3
.3
.3
.1
79.4
29.2
98.7
36.4
10.4
3.1
85.5
27.1
5.4
2.9
72.9
13.8
6.5
7.8
15.6
7.2
9.2
5.0
16.1
7.4
4.1
2.5
.4
6 .6
2 1.0
3.3
2.7
8 .1
.8
-4.2
-1.3
1 .6
.6
12 .6
.8
12 .6
10 .8
1 0 .1
4.0
.9
.9
-.9
-.3
- 2.6
1.4
*
-3.4
4.5
-2.5
.9
7.0
-1 .1
-3.9
- 2 .2
- 1 .1
3.5
1 2 .1
8.0
22.0
7.1
.9
2 .1
.5
1.7
2.4
- 1 .1
4.9
- 1 .8
.3
1.3
1 1 .0
27.3
10.7
-.6
6.8
1 .1
-1. 4
2.2
1.8
1 0 .1
9.2
6 .2
19.8
1 .0
- 1.8
- 1 .6
.2
16.9
1 2 .1
15.5
5.8
1.6
1 .6
-2.9
- 1 .1
8.7
2.0
-14.4
FINANCIAL SECTORS
SPONSORED CREDIT AGENCIES
C OMMERCIAL BANKS
BANK AFFILIATES
FOREIGN BANKING AGENCIES
SAVINGS * LOAN ASSNS.
OTHER INSURANCE COMPANIES
FINANCE COMPANIES
REITS
OPEN-END INVESTMENT COS.
241.7 TOTAL FUNOS ADVANCEO IN CREDIT
M ARKETS BY:
67. 4
PRIVATE DOM. NONFIN. SECTORS
27.6
HOUSEHOLDS
.6
N O N FARM NONCORP. BUSINESS
29.8
CORPORATE BUSINESS
9.4
STATE ♦ LOCAL GOVERNMENTS
-3.0
6.4
U.S. GOVERNMENT
FINANCIAL INSTITUTIONS
SPONSORED CREDIT AGENCIES
FEDERAL RESERVE SYSTEM
COMMERCIAL BANKING
COMMERCIAL BANKS
BANK AFFILIATES
FOREIGN BANKING AGENCIES
BANKS IN U.S. POSS.
PRIVATE NONBANK FINANCE
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
CREDIT UNIONS
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S. ♦ L. GOVT., RTR. FUND
OTHER INSURANCE COS.
FINANCE COMPANIES
REITS
OPEN-END INVESTMENT COS.
SECURITY BKRS. ♦ DEALERS
REST OF THE WORLD
I
? 1
2 .6
4.9
17.4
70.7
36
37
38
39
8 .0
10 .6
176.7
7.0
.3
35.2
33.3
- 1 .0
2 .6
7 .4
142.0
3.2
8.9
18.3
12.7
3.9
1.4
44
45
46
47
30.5
-4.7
3.0
31
32
33
34
35
40
41
42
43
13.9
9.0
2 .6
101.3
1 1 .6
5.7
3.2
80.7
8.9
4.2
1 .6
54.7
33.6
3.6
28
29
30
2 .8
.1
216.8
13.0
-13.6
1 1 .8
1.2
2 1 .1
2.8
16.7
15.2
-.5
-1.3
2.5
2.4
.7
200.8
.9
7.5
.3
2.9
.2
24.0
-.5
2 2 .1
27
7.6
174.8
1.3
7.9
.4
1 .1
2 .6
10.5
9.0
2.4
- 2 .2
- 1 1 .2
12 .8
17.9
7.9
6.3
.3
-4.6
5.3
.7
39.8
2 1 .6
-2.3
.3
- .1
208.5
30.8
2.5
6.4
10 .6
6 .8
.1
29.7
6.8
218.1
-8.4
-14.2
.7
7.0
- 2.0
12 .6
95.9
11.4
93.5
39.3
5.9
-.7
32.0
17.0
-.7
.4
-4.7
.7
*
-2.3
-1.4
31.2
164.0
-4.1
-2.7
.2
.2
239.3
110.9
40.8
31.3
5.0
-1.9
2.4
2.9
6.3
.4
3.9
8.5
1.3
125.6
10 .0
2 2 .1
198.5
-.5
.6
11.3
10.3
3.8
- 1 .6
2.8
.6
38.0
43.3
6.7
2.5
34.2
13.2
1 .0
1 .0
.5
9.3
6 .1
23
24
25
26
2 .2
12.0
100.0
- 1.0
- 2.0
.7
-.5
-1.7
1.5
4.2
3.0
1.3
2.7
8 .6
9.3
67.2
12.3
12.0
15.4
152.7
44.0
7.8
7.2
77.1
16.6
241.7 TOTAL FUNOS RAISED IN CREDIT
M A R KETS BY:
225.0
NONFINANCIAL SECTORS
7 8.9
U.S. GOVERNMENT
16.8
FOREIGN
129.3
PRIVATE DOMESTIC
56.8
HOUSEHOLDS
6.7
FARM BUSINESS
6.3
N ONFARM NONCORP. BUS.
49.0
CORPORATE BUSINESS
10 .6
S. ♦ L. GOVERNMENTS
TOTAL CLAIMS AND THEIR RELATION TO TOTAL FINANCIAL ASSETS
TOTAL FUNDS RAISED (FROM
PRECEDING TABLE)
OTHER LIABILITIES:
-.4
OFFICIAL FOREIGN EXCHANGE
1.0
TREASURY CURR. ♦ SDR CTFS.
1
125.6
110.9
164.0
198.5
239.3
218.1
208.5
174.8
200.8
216.8
2
-2.5
.6
-1.7
.5
- .2
-.2
3
.3
.3
.5
.4
1.3
.4
.5
.9
1.3
.7
.1
1 .2
1.3
4
5
6.7
-1.3
99.3
58.8
17.4
41.4
40.6
108.0
61.9
19.6
4 2.3
46.1
95.0
66.9
16.0
50.9
28.1
90.2
-9.5
7.9
69.2
52.2
14.3
38.0
17.0
2 2 .1
103.6
43.8
16.5
27.3
59.8
78.7
11.3
-14.2
25.5
67.4
150.8
78.4
54.5
24.0
72.4
90.8
40.1
2 3.4
16.6
50.7
94.2
45.5
2.3
43.1
48.7
6
7
8
8 .2
6 8 .1
1 1 .1
57.0
.8
241.7
DEPOSITS AT FINANCIAL INSTS.
B ANKING SYSTEM
DEMAND DEP. ♦ CURRENCY
TIME ♦ SAVINGS DEPOSITS
SAVINGS INSTITUTIONS
9
21.3
24.3
27.7
30.3
31.6
38.9
41.6
36.4
55.9
32.7
41.6
INSURANCE ♦ PENSION RESERVES
10
11
12
-6.7
22.7
-3.1
- .8
10 .0
3.8
8.9
17.0
-4.6
22.8
4.2
1 1 .2
10 .6
- 2 1.8
9.3
12.0
1 1 .2
.1
26.3
1 1 .0
-3.3
10 .2
-3.5
2 2.7
4.7
-4.6
36.3
-4.5
-5.0
25.9
- 14.3
26.5
13
14
- 8 .2
23.7
2.7
-15.2
-5.6
28.1
- 1 1 .1
-2.3
22.3
-5.7
24.2
28.3
8.4
-6.5
29.1
SECURITY CREDIT
TRADE DEBT
PROFIT TAXES PAYABLE
NONCORP. PROPRIETORS'
M ISCELLANEOUS
15
2.0
4.5
5.6
2 .0
7.9
4.8
-2.7
1.4
- 12 .6
2.5
- 2 .2
INTERBANK CLAIMS
16
195.5
2 2 2 .1
314.0
384.2
429.0
408.3
384.3
289.4
426.4
375.4
446.4
17
18
19
- .6
2 .1
- 2 .1
.1
1 .2
-.2
.1
.6
.3
.1
-3.6
1.7
- .1
1.8
- .8
-.1
.5
3.2
-4.1
3.7
-.3
- .2
6.8
-2.5
5.9
-.4
3.6
.1
-.6
20
21
22
.2
- .1
8 .1
*
*
4.3
- .2
-.7
- 1 .1
.4
1 .1
- .1
6 .1
4.3
3.4
-3.1
*
.7
-1.9
4.9
-.3
.9
-1.5
- 5.4
23
187.9
222.2
308.1
378.2
4 25.5
407.1
382.2
280.2
423.8
377.3
-3.1
-1.9
-.1
6 .1
1.8
- .1
.1
36.7
- 2.3
*
.1
1 .1
- .1
.3
.6
7
9
11
12
EQUITY 13
14
FLOATS N O T INCL. IN ASSETS
DEMAND DEPOSITS-U.S. GOVT.
OTHER
TRADE CREDIT
- LIABILITIES NOT ALLOCATED
AS ASSETS
- .1
T REASURY CURRENCY
.4
PROFIT TAXES PAYABLE
- 5.3
MISCELLANEOUS
5.6
-7.3
TOTALS ALLOCATED TO SECTORS
AS ASSETS
( 1 ) INCLUDES
:
(1)
CORPORATE EQUITIES.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
6
6
10
6 .1
447.1
*
5
15
17
18
19
20
21
10 FEBRUARY 1976
SAVING BY INDIVIDUALS
48
SAVING BY INDIVIDUALS
AMOUNT AND COMPOSITION OF INDIVIDUALS* SAVING (1)
UNADJU S T E D NET FLOWS
UNADJUSTED NET FLOWS
1975 UNADJUSTED NET FLOWS
II
III
1 INCREASE IN FINANCIAL ASSETS
2
D EMAND D EPOSITS ♦ C U R RENCY
3
SAVINGS ACCOUNTS
It MILL.)
IV
1962
1963
YEAR TOTALS it BILL.)
1964
1965
1966
1967
1968
28.915
-13.734
30.283
49.389
15.469
23.053
37.533
-631
17.028
44.449
7.200
21.411
39.2
1.7
25.7
45.5
3.0
24.6
55.2
4.7
27.4
58.3
7.8
28.0
62.7
3.9
20.5
69.0
11.3
34.8
73.4
12.5
30.3
1
2
3
2.106
3.8
.4
5.4
-.2
-.8
4
5
6
7
8
SECURITIES
U.S. SAVINGS BONOS
OTHER U.S. TRE A S U R Y SEC.
U.S. GOVT. AGEN C Y SEC.
STATE ♦ LOCAL O B LIGATIONS
-4.300
-2.995
3.289
-5.919
1.081
-7.343
-87
2 .407
12.373
977
7.489
-269
2.466
2.281
960
1.958
650
1.888
-2.8
.4
-.6
•5
-1.0
2.0
1.2
2.2
•2
1.0
5.2
.9
1.0
.8
2.6
3.1
.6
1.0
.9
1.7
15.1
.7
2.6
4.4
3.6
-2.4
.9
-.7
1.4
-2.2
CORPORATE ♦ F OREIGN BONDS
COMMERCIAL PAPER
INVESTMENT CO M P A N Y SHARES
OTHER CORPORATE EQUITIES
3.690
207
1.874
-670
1.902
-3.291
-520
-68
2.282
-1.789
399
818
-275
-80
-247
-2.573
*
*
1.7
-3.8
*
*
1.5
-4.1
.2
*
2.0
-2.3
1.0
*
3.3
-5.4
2.0
2.7
3.7
-4.6
4.6
-2.1
3.0
-7.3
PRIVATE LIFE INSURANCE RES.
PRIVATE INSURED PENSION RES.
PRIVATE N ONINSURED PEN. RES.
GOVT. INSURANCE ♦ PEN. RES.
MISCELLANEOUS FINAN. ASSETS
1.774
l.«92
3.100
2.082
1.712
1.728
1.485
2.650
9.238
1.685
1.896
1.326
3.276
1.117
1.148
1.888
1.283
3.307
3.901
3.178
3.6
1.4
4.2
3.5
2.0
4.1
1.7
4.5
3.9
1.8
4.3
2.0
4.9
4.4
2.2
4.7
2.1
5.5
4.7
2.3
4.6
2.1
7.2
5.6
3.8
5.0
2.6
6.6
5.5
5.7
4.6
2.9
6.4
6.1
6.8
13
14
15
16
17
18 GROSS INV. IN TANGIBLE ASSETS
19
NONFARM HOMES
20
NONCORP. BUS. PLANT ♦ EQUIP.
21
CONSUMER DURABLES
22
INVENTORIES
41.902
9.106
8.135
25.557
-896
47.964
6.101
11.091
31.380
-608
51.039
8.162
11.335
31.248
294
61.788
11.978
9.704
39.465
641
87.2
19.7
19.4
46.7
1.3
94.2
20.7
20.6
51.4
1.5
100.5
21.9
22.3
56.3
•
111.5
21.9
25.1
62.8
1.8
115.0
21.4
25.5
67.7
.4
116.0
19.3
26.1
69.6
.9
133.1
23.8
28.6
80.0
.6
18
19
20
21
22
23 CAPITAL CONSUMPTION ALLOWANCES
24
NONFARM HOMES
25
NONCORP. BUS. PLANT ♦ EQUIP.
26
CONSUMER DURABLES
43.508
5.286
8.972
29.250
44.885
5.435
9.225
30.225
45.739
5.566
9.423
30.750
46.836
5.714
9.678
31.444
63.7
8.4
13.1
42.2
66.6
8.8
13.4
44.5
70.6
9.3
13.9
47.5
74.9
9.6
14.6
50.8
80.1
9.9
15.5
54.7
86.4
10.3
16.6
59.4
95.4
11.5
18.2
65.6
23
24
25
26
27 NET INV. IN TANGIBLE ASSETS
28
NONFARM HOMES
29
NONCORP. BUS. PLANT ♦ EQUIP.
30
CONSUMER DURABLES
31
INVENTORIES
-1.606
3.820
-837
-3.693
-896
3.079
666
1.866
1.155
-608
5.300
2.596
1.912
498
294
14.952
6.264
26
8.021
641
23.5
11.3
6.3
4.5
1.3
27.6
11.9
7.2
6.9
1.5
29.9
12.6
8.5
8.8
*
36.6
12.3
10.5
12.0
1.8
34.9
11.6
10.0
12 .9
.4
29.6
9.0
9.5
10.2
.9
37.7
12.3
10.4
14.4
.6
27
28
29
30
31
32 NET INCREASE IN DEBT
33
MTG. DEBT ON NONFARM HOMES
34
NONCORP BUS. MORTGAGE DEBT
35
CONSUMER C REDIT
36
SECURITY CREDIT
37
POLICY LOANS
38
OTHER DEBT
8.091
625
-5.062
344
467
336
17.941
8.363
3.157
1.076
1.266
350
3.729
16.269
7.279
4.008
3.588
-519
377
1.536
15.158
9.923
2.467
5.686
353
306
-3.577
26.8
12.7
4.4
5.8
-.1
.5
3.4
34.8
14.8
5.4
7.9
2.0
.5
4.3
36.0
16.0
6.5
8.5
-.2
.5
4.7
38.6
15.2
6.6
9.6
.7
.6
5.8
31.4
12.7
5.4
6.4
-.1
1.5
5.6
33.8
10.4
7.2
4.5
3.7
1.0
7.0
42.3
14.6
6.8
10.0
2.9
1.3
6.7
32
33
34
35
36
37
38
22.508
2.082
-3.693
34.527
9.238
1.155
26.564
1.117
498
44.243
3.901
8.021
36.0
3.5
4.5
38.3
3.9
6.9
49.0
4.4
8.8
56.3
4.7
12.0
66.2
5.6
12.9
64.9
5.5
10.2
68.8 39
6.1 4 0
14.4 41
107
39
23.973
5
40
24.089
10
40
24.899
59
40
32.222
.5
.1
27.4
.5
*
27.0
.6
.1
35.2
.9
.2
38.4
1.3
.2
46.2
1.7
.1
47.4
2.5 42
.1 43
45.7 4 4
24.460
22.804
22.790
20.4
18.8
26.1
30.3
33.0
40.9
38.1 45
-371
2.095
9.432
7.0
8.2
9.0
8.2
13.2
6.5
7.6 46
7
8
9
10
11
12
13
14
15
16
17
39 INDIVIDUALS' SAVING 11*27-32)
40 - GOVT. INSURANCE ♦ PEN. RES.
41 - N E T INVESTMENT IN CONS. DUR.
- CAPITAL GAINS DIVIDENOS
42
FROM INVESTMENT COMPANIES
43 - NET SAVING BY FARM CORPS.
44 * PERSONAL SAVING* F/F BASIS
45 PERSONAL SAVING* NIA BASIS
1.011
46 DIFFERENCE
(1) COMBINED STATEMENT FOR HOUSEHOLDS, FARM,
AND NONFARM NONCORPORATE BUSINESS.
IV/75 BASED ON INCOMPLETE AND PRELIMINARY INFORMATION.
4.6 9
.7 10
5.9 11
-12.3 12
10 FEBRUARY 1976
SAVING BY INDIVIDUALS
SAVING BY INDIVIDUALS
AMOUNT ANO C O M POSITION OF INDIVIDUALS* SAVING (1)
SEASONALLY ADJUSTED ANNUAL RATES
(BILLIONS OF DOLLARS)
49
.
SEASONALLY AOJUSTEO ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
IV
II
III
I
1969
1970
1971
1972
1973
1974
1975
1
2
3
62.2
1.6
6.0
80.7
11.3
44. 4
99.8
11.1
70.3
124.6
12.1
75.4
138.2
13.1
67.7
133.9
8.6
59.6
160.3
8.3
91.8
133.2
-18.6
107.8
191.5
48.5
94.9
141.8
2.6
67.2
4
5
6
7
8
30.2
-.4
10.5
2.8
9.6
-2.9
.3
-12.7
2.8
-.8
-1 4 . 4
2.4
-1 1 . 8
-5.0
-.2
3.1
3.3
-2.6
-.1
1.0
21.1
2.7
6.5
11.1
4.3
21.3
3.0
.8
10.8
10.0
10.8
4.0
-2.2
-2.7
10.1
-.1
4.1
-20.7
-10.8
12.6
-15.0
4.0
-19.5
- 2.0
9.8
32.9
4.2
17.9
- 3. 6
9.2
25.5
3.8
13.4
5.6
8.5
SECURITIES
U.S. SAVINGS BONDS
OTHER U.S. TREASURY SEC.
U.S. GOVT. A GENCY SEC.
STATE ♦ LOCAL OBLIGATIONS
4
5
6
7
8
9
10
11
12
6.6
4.8
4.9
-8.6
10.7
- 1.5
2.8
-4.4
9.3
-3.9
1.3
-6. 5
5.2
1.5
-.5
-4.7
1.1
3.5
-1.6
-6.5
- 1.7
-.5
1.0
-2.0
7.6
-5.0
1.5
-2.5
12.8
3.2
6.8
-8.3
5.6
-11.2
-1.4
-.3
7.3
-7.2
2.2
2.8
4.7
-4.6
-1.6
-4. 3
CORPORATE ♦ FOREIGN BONDS
COMMERCIAL PAPER
INVESTMENT COMPANY SHARES
OTHER CORPORATE EQUITIES
9
10
11
12
13
14
15
16
17
4.9
2.9
6.3
7.1
3.1
5.1
3.3
7.1
8.8
3.6
6.1
5.2
7.3
9.2
5.1
6.5
6.0
6.8
11.1
3.7
7.2
5.2
7.7
11.5
4.8
7.2
5.7
10.9
15.1
5.5
7.3
5.7
12.3
16.3
7.7
7.1
6.4
11.7
11.2
7.7
6.9
5.9
11.6
31.5
7.2
7.6
5.3
12.9
6.9
6.4
7.6
5.1
13.2
15.7
9.7
18
19
20
21
22
144.4
25.7
32.1
85.5
1.1
140.3
23.4
33.3
84.9
-1.3
165.0
31.3
35.5
97.1
1.1
190.8
4 0.0
40.8
111.2
- 1.3
215.1
44.5
45.7
122.9
2.0
203.7
37.7
45.0
121.9
-.9
202.7
35.3
40.3
127.7
-.6
186.9
34.9
38.9
118.9
-5.9
193.2
31.8
40.3
123.8
-2.8
23
24
25
26
105.3
12.9
20.6
71.8
113.1
12.8
23.3
77.0
121.8
13.7
24.9
83.2
130.3
14.7
25.8
89.7
144.4
17.1
28.7
98.6
163.5
19.5
33.1
110.8
181.0
22.0
37.3
121.7
174.0
21.1
35.9
117.0
27
28
29
30
31
39.1
12.8
11.5
13.7
1.1
27.2
10.6
10.0
7.9
-1.3
43.2
17.6
10.6
13.9
1.1
60.5
25.3
15.0
21.5
- 1.3
70.8
27.4
17.0
24.4
2.0
40.2
18.2
11.8
11.2
-.9
21.7
13.3
3.0
6.0
-.6
32
33
34
35
36
37
38
40.0
16.1
7.0
10.4
-3.4
2.6
7.3
32.2
12.5
8.0
6.0
-1.8
2.3
5.1
57.3
24.2
11.2
11.2
2.6
1.0
7.1
85.8
38.4
13.2
19.2
4. 7
.9
9.4
87.6
44.2
12.9
22.9
-4.6
2.2
9.9
58.2
32.6
12.4
9.6
-2.1
2.7
2.9
39
40
41
61.4
7.1
13.7
75.7
8.8
7.9
85.7
9.2
13.9
99.3
11.1
21.5
121.4
11.5
24.4
42
43
44
2.5
.1
38.0
.9
-.1
58.2
.8
-.1
61.9
1.4
.1
65.2
45
35.1
50.6
57.3
46
2.9
7.6
4.5
174.7 INCREASE IN FINANCIAL ASSETS
.6
DEMAND D E P OSITS ♦ CURRENCY
SAVINGS ACCOUNTS
97.3
PRIVATE LIFE INSURANCE RES.
PRIVATE INSURED PENSION RES.
PRIVATE NONINSURED PEN. RES.
GOVT. INSURANCE ♦ PEN. RES.
MISCELLANEOUS F1NAN. ASSETS
13
14
15
16
17
208.6
34.7
40.0
131.8
2.1
222.1 GROSS INV. IN TANGIBLE ASSETS
39.9
NONFARM HOMES
41.8
NONCORP. BUS. PLANT ♦ EQUIP.
136.1
CONSUMER DURABLES
4.3
INVENTORIES
18
19
20
21
22
179.5
21.7
36.9
120.9
183.0
22.3
37.7
123.0
187.3 CAPITAL CONSUMPTION ALLOWANCES
22.9
NONFARM HOMES
NONCORP. BUS. PLANT ♦ EQUIP.
38.7
125.8
CONSUMER DURABLES
23
24
25
26
12.8
13.8
3.1
1.9
-5.9
13.6
10.1
3.4
2.9
-2.8
25.7
12.4
2.3
8.8
2.1
34.7 NET INV. IN TANGIBLE ASSETS
N ONFARM HOMES
17.0
3.1
NONCORP. BUS. PLANT ♦ EQUIP.
10.3
CONSUMER DURABLES
4.3
INVENTORIES
27
28
29
30
31
54.2
33.7
10.3
5.3
1.4
1.5
2.0
41.7
30.2
8.4
-2.5
1.4
1.9
2.3
48.8
34.7
9.4
-.6
5.1
1.4
-l.l
52.4
31.2
11.2
11.6
-2.1
1.5
— 1.0
74.4 NET INCREASE IN DEBT
38.5
MTG. DEBT ON NONFARM HOMES
12.0
NONCORP BUS. MORTGAGE DEBT
12.7
CONSUMER C REDIT
1.4
SECURITY CREDIT
POLICY LOANS
1.2
8.6
OTHER DEBT
32
33
34
35
36
37
38
116.0
15.1
11.2
127.8
16.3
6.0
104.3
11.2
1.9
156.3
31.5
2.9
115.1
6.9
8.8
.9
.3
84.2
.5
.2
88.9
.2
.2
105.2
-.3
.2
91.3
.7
.2
121.1
.7
.2
98.5
49. 4
72.7
74.0
89.5
73.6
107.4
85.8
91.2 PERSONAL SAVING* N1A BASIS
45
15.8
11.5
14.9
15.7
17.7
13.7
12.7
18.0 DIFFERENCE
46
135.0 INDIVIDUALS* SAVING (1+27-32)
15.7 - GOVT. INSURANCE ♦ PEN. RES.
10.3 - N E T INVESTMENT IN CONS. DUR.
- CAPITAL GAINS OIVIDENOS
FROM INVESTMENT COMPANIES
-.4
.2 - NET SAVING BY FARM CORPS.
109.2 c PERSONAL SAVING* F/F BASIS
(1) COMBINED STATEMENT FOR HOUSEHOLDS* FARM*
AND NONFARM NONCORPORATE BUSINESS.
IV/75 BASEO ON INCOMPLETE ANO PRELIMINARY INFORMATION.
1
2
3
39
40
41
42
43
44
10 FEBRUARY 1976
DISCREPANCIES
DISCREPANCIES
DISCREPANCIES - SUMMARY FOR SECTORS AND TRANSACTIONS
UNADJUSTED NET FLOWS
UNADJU S T E D NET FLOWS
1975 UNADJUSTED NET FLOWS (S MILL.)
IV
I
II
III
1962
1963
YEAR T OTALS (* BILL.)
1964
1965
1966
1967
1968
4.1
-7.8
9.0
.4
1.7
.5
SECTOR DISCREPANCIES
1 TOTAL, ALL SECTORS
2
HOUSEHOLDS
3
NONFIN. CORPORATE BUSINESS
4
STATE ♦ LOCAL GOVERNMENTS
5
U. S. GOVERNMENT
FOREIGN
6
7
8
9
10
11
12
13
14
15
16
FINANCIAL SECTORS
SPONSORED AGENCIES
MONETARY AUTHORITIES
COMMERCIAL BANKS
PRIVATE N0N8ANK FINANCE
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE
OTHER INSURANCE
FINANCE N.E.C.
2.040
-6.129
-276
2 . 146
3.84*
2.663
1.147
-2.539
1.897
3.223
-1 . 7 5 7
467
-1.005
-5. 1 7 4
3.864
-350
1.060
-60
5.290
-1.694
6.472
1.895
-1.003
421
-4.3
-7.1
3.8
1.6
-.5
-1.1
-2.7
-8.4
5.6
*
*
-.4
-3.5
-9.2
7.8
1.2
-1.7
-1. 0
-.3
-8.3
8.5
-.1
.3
-.5
-5.5
-13.3
8.4
-1.0
-1.8
.4
- 1.4
-6.6
4.0
*
-1.1
•
-208
70
0
353
-144
-110
0
-1.134
-345
-71
0
428
-801
124
0
-764
-1.1
*
-.4
.4
*
•6
-.7
*
-.7
-.3
*
-.1
1.7
.1
.2
2.4
•
-.3
.3 7
.1 8
9
-.1 10
-631
231
11
-139
96
-830
1.100
116
-13
463
-62
596
-702
39
-37
-300
-208
-196
-161
61
11
-151
-184
102
-.7
.1
-.1
-.2
-.7
.2
-.2
*
*
-.1
.2
-.3
*
.3
*
-.2
.2
-.2
-.2
.2
*
-.3
.3
-.5
1.5
.4
*
.3
.2
.6
2.7
.5
*
.9
.7
.6
.3
.3
-.1
-.2
-.1
.4
11
12
13
14
15
16
1
2
3
4
5
6
TRANSACTION DISCREPANCIES
1 TOTAL, ALL TYPES
TREASURY CURRENCY
2
DEMANO DEPOSIT MAIL FLOATS:
3
U.S. GOVERNMENT
4
OTHER
5
6
7
8
TRADE CREDIT
PROFIT TAXES PAYABLE
MISCELLANEOUS
NONFINANCIAL
>
2.040
31
1.147
-87
-1.005
67
5.290
-33
-4.3
*
-2.7
*
-3.5
.2
-.3
.1
-5.5
.2
-1.4
.2
4.1
.2
1
2
-988
-2. 7 0 6
-899
3.379
-180
-2.498
1.964
5.485
.4
-.4
*
*
-.4
.5
.4
*
-.3
-.9
.1
-1.2
.4
.5
3
4
-1.889
446
5.111
2.035
1.266
1.594
-3.335
-771
1.511
-617
747
-35
-1.141
-683
-4.377
4.075
.5
.9
-1.4
-4.2
.8
-.8
1.1
-3.9
-.7
.3
-.9
-2.4
-1.5
.8
.9
-1.1
-2.0
1.4
-.7
-3.3
.6
*
.7
-1.8
-1.5
1.5
2.5
.5
5
6
7
8
b.
10 FEBRUARY 1976
DISCREPANCIES
DISCREPANCIES
51
SEASONALLY ADJUSTED ANNUAL RATES
DISCREPANCIES - SUMMARY FOR SECTORS AND TRANSACTIONS
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1975 SEAS ADJ ANNUAL RATES
I
II
III
IV
SECTOR D I SCREPANCIES
1
2
3
4
5
6
1 0.9
-2.9
6. 3
5.9
1.2
-1.4
2.0
-7.6
8.0
.8
.8
-. 5
4.1
-4.5
9.5
9,4
-.1
-9.7
4. 4
-15.8
14.7
8.6
.6
-1. 8
3.3
-11.5
11.2
8. 9
-.2
-1.8
1.6
-14.9
11.8
6.7
-4. 1
4.0
7.5
-15.5
12.0
6.9
2.1
3.5
12.6
-17.7
11.7
7.7
4.3
6.0
12.0
-13.7
11.4
9.6
*
6.5
1.6
-12.7
11.3
5.3
.1
-.2
7
8
9
10
1.8
.1
-.2
•6
.i
-.4
- .6
.1
—
-1.2
-1.9
.1
-l.l
-3.3
.2
—
-1.5
-1.8
.3
—
-1.4
-1.5
*
-1.1
•6
.4
*
-1. 2
- 1.7
-.5
—
-.9
-2.1
-.2
—
-1.0
-2 *6
.3
—
-1.3
11
12
13
14
15
16
1.9
.4
*
.3
1.0
.1
.8
.5
.1
.7
-.9
.5
.4
.6
.1
.9
-1.1
*
-.9
.1
-.2
1.4
-.7
-1.5
-2.0
.3
-.1
-.3
-.8
-1.2
-.6
.5
.1
-.2
-.6
-.5
-.4
.4
*
-.1
-.4
-.3
1.4
1.0
-. 1
1.6
*
-1.2
-.4
.2
-.4
-.8
-.3
.9
-.9
.8
.3
-.6
-.8
-.5
-1.7
-.2
.1
-.8
-.3
-.5
3.5 TOTAL, ALL SECTORS
- 18.0
HOUSEH O L D S
13.3
NONFIN. CORPORATE BUSINESS
5.1
STATE ♦ LOCAL GOVERNMENTS
4.1
U. S. G O V E R N M E N T
1.6
FOREIGN
FI N A N C I A L SECTORS
SPONSORED AGENCIES
MONETARY AUTHORITIES
COMMERCIAL BANKS
PRIVATE N ONBANK FINANCE
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE
OT H E R INSURANCE
FINANCE N.E.C.
TRAN S A C T I O N DISCREPANCIES
1
2
10.9
.2
2.0
-.1
4 —1
*
4 .4
-.2
3.3
*
1.6
-.1
7.5
*
12.6
.1
12.0
- .3
1.6
.3
3
4
-.6
2.1
.1
1.2
-.2
.1
.6
3.2
.3
.1
-. 1
1.8
-.1
3.7
-3.6
-.2
-2.5
5 .9
-.4
3.6
5
6
7
•
-2.1
-.1
8.1
3.3
.5
-.7
-l.l
2.1
1.7
*
4.3
-1.9
-4. 1
.4
6.1
- 1.6
-2.3
1.1
4.3
-.3
-.8
3.4
-3.1
.4
-.3
.7
-1.9
5.3
6.8
1.1
4.9
3.5
.1
.9
-1.5
9.4
-.6
•6
-5.4
3.5
3.5 TOTAL* ALL TYPES
TREASURY C URRENCY
-.1
DEMANO D E P O S I T MAIL FLOATS:
6.1
U.S. G OVERNMENT
5.6
OTHER
-7.3
.4
-5.3
4.2
T RADE CREDIT
PROFIT TAXES PAYABLE
M I S C E LLANEOUS
NONFINANCIAL
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
@FedFRASER