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F/F Unadj
H /74
February 5, 1975
Flow of Funds,
Unadjusted
4th Quarter, 1974
Preliminary
Division of Research and Statistics
Board of Governors of the Federal Reserve Sys
Washington, D.C.
20551
TABLE LIST
SUMMARY TABLES
Funds Raised in Credit Markets
Private Domestic Net Investment and Borrowing in
Credit Markets
Credit Market Supply of Funds
SECTOR TABLES
Households
Total Nonfinancial Business & Noncorporate Business
Corporate Business
Governments
Banking System
Commercial Banking Subsectors
Nonbank Finance Summary
Savings Institutions
Insurance Companies and Pension Funds
Finance N.E.C.
Rest of the World
TRANSACTION TABLES
Monetary and Insurance Reserves
Interbank Claims
Money and Deposits
U.S. Government Securities
Private Securities and Mortgages
Mortgages by Type
Consumer Credit and Bank Loans N.E.C.
Other Loans, Including Open-Market Paper
Security Credit, Trade Credit, and Taxes
Miscellaneous Financial Claims
Total Claims— Recapitulation by Type
Saving by Individuals
Flow of Funds Accounts. Fourth Quarter 1974
These tables present first preliminary estimates of flow of
funds data for the fourth-quarter and for the year 1974 as a whole.
Figures for the first three quarters have been revised from the November
1974 version to reflect information becoming available since then, but
1973 and earlier years are unchanged from the November and August 1974
publications.
Revisions for the third quarter were unusually large and
included sharp reductions in most forms of borrowing and lending by
nonfinancial sectors compared with the preliminary November estimates.
The most important sources of the changes were new data on net security
issues by corporations, in transactions of foreign banking agencies, and
in commercial bank credit to nonfinancial sectors. These data affected
amounts and structures of borrowing and lending in several sectors.
For the first two quarters the changes reflect primarily the June benchmark
for banks that became available during November. New quarterly estimates
for fire and casualty insurance companies resulted in sizable upward
revisions for 1974 in their purchases of corporate bonds and decreases in
buying of municipal securities.
Fourth-quarter 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, mutual
savings banks, pension funds, and investment companies, and the Treasury
survey of ownership of Federal securities.
Quarterly tables are available both seasonally adjusted and
unadjusted, in two separate publications, and mailing lists are maintained
for their distribution.
Historical data back to 1945 are available in a
third 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. A58-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 3222, Board of
Governors of the Federal Reserve System, Washington, D.C. 20551.
Tel.:
(202) 452-3483.
(See overleaf for note on Franklin National Bank)
Franklin National Bank
The October 1974 settlement on Franklin National Bank included
certain arrangements that are reflected in the tables as unusual flows.
Very briefly, the Federal Deposit Insurance Corporation took over about
$2 billion of Franklin assets, mainly loans and investments, which were
therewith removed from commercial bank assets, and at the same time
assumed liability to the Federal Reserve System for $1,723 million of
member bank borrowing that had been owed by Franklin, FDIC has undertaken
to pay down that liability over about three years, as it liquidates the
loans and investments that it is holding.
In flow of funds tables, these arrangements are reflected in
fourth-quarter flows as follows: *
Corp.
bus.
Member bank borrowing
St. and local govt, oblig.
Mortgages
(-1,023)
Bank loans n.e.c.
U.S. Govt, loans
( 1,023)
Miscellaneous
1/
Net changes, $ millions at quarterly rates
Commercial
St. & local
U.S.
Monetary
auth.
banking
Govt.
g o v t s . _____
(FDIC)
(FRS)
-1,723
(-500)
200
(-1,723)
- 500
-
200
-1,023
( 500)
1,523
(1,723)
(-1,723)— 7
The monetary authorities sector statement nets miscellaneous assets against
liabilities, following an earlier form of the F.R. table on member bank reserves.
The amounts used are approximations used to conform both to other data on bank
credit and to the amount of the FDIC liability to the Federal Reserve.
These
claims will be written down or reversed as the FDIC disposes of its holdings
from the settlement.
^Figures in parentheses are changes in liabilities.
in assets.
Other figures are changes
5 FEBRUARY 1975
CRELTT MARKET SUMMARY
CREDIT MARKET SUMMARY
1
1
TOTAL FUNDS RAISED IN CREDIT MARKETS BY NONFINANCIAL SECTORS
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1974
UNADJUSTED QUARTERLY FLOWS
I
1972
| III
IV
|
f
1973
I
II
III
IV
|
|
1974
I
II
III
IV
I. FUNDS RAISED, BY TYPE AND SECTOR
39.374
36.859
63.424
60.993
45.257
43.670
45.707
43.577
43.312
42.030
53.089
50.868
33.662
32.094
52.360
51.240
41.620
41.710
12.968
13.106
-138
5.738
4.596
1.142
12.937
11.610
1.327
8.853
652
-5.994
-5.941
-53
-457
-1.119
662
7.312
6.598
714
3.389
2.963
426
-6.187
-6.375
188
4.497
4.871
-374
6 177.651 162.738
33.636
2.515
31.121
50.487
2.431
48.056
36.404
1.587
34.817
51.701
2.130
49.571
43.769
1.282
42.487
45.777
30.273
1.568
28.705
58.547
43.556
57.427
1 187.365 175.706
2 180.145 172.408
3
4
5
7
9.714
7.739
1.975
7.220
3.298
8 170.431 159.440
9
8 .2 0 1
97.050
13.709
10.150
73.191
43.344
8.417
17.047
4.383
92.930
16.958
20.924
55.048
31.348
7.542
11.348
4.810
25.386
3.682
2.909
18.795
11.645
2.514
4.001
635
25.072
2.996
2.812
19.264
11.043
3.394
4.383
444
19.464
2.724
1.565
15.175
8.984
1.774
3.419
998
27.587
3.243
3.212
21.132
12.391
2.935
4.527
1.279
28.253
3.987
73.381
38.626
22.922
1.818
10.015
66.510
29.912
9.635
14.911
12.052
5.735
477
5.164
-1.063
1.157
22.984
12.997
8.588
-860
2.259
15.353
11.768
1.756
-1.724
3.553
21.984
11.767
7.763
519
1.935
22 177.651 162.738
33.636
31.121
671
3.635
14.386
12.429
587
2.331
9.511
50.487
48.056
1.937
3.063
24.523
18.513
899
3.820
13.794
36.404
34.817
2.163
2.570
11.900
18.184
2.086
1.608
14.490
3.298
-196
3.494
2.515
-81
2.596
2.431
-209
2.640
15.516
590
15.025
12.107
1.728
21.153
16.434
10
11
12
13
14
15
16
17
18
19
20
21
23 170.431 159.440
24
7.728 15.712
25 12.258 15.814
26 72.815 42.544
27 77.630 85.370
28
8.617
7.389
29
9.282
6.728
30 59.731 71.253
2 .2 2 1
36.795 ALL OTHER NONFINANCIAL SECTORS
700
CORPORATE EQUITIES
36.095
DEBT INSTRUMENTS
8
21.616
4.012
6.186
11.418
6.178
4.230
1.355
14.234
5.585
5.952
1.043
1.654
21.810
9.506
7.451
1.980
2.873
8.664
4.753
-2.914
3.826
2.999
28.315
16.367
5.853
3.726
2.369
15.052
2.258
4.481
5.552
2.761
14.479
6.534
2.215
1.807
3.923
OTHER PRIVATE CREDIT
BANK LOANS N.E.C.
CONSUMER CREDIT
OPEN-MARKET PAPER
OTHER
51.701
49.571
2.079
2.468
20.572
24.452
2.833
3.161
18.458
43.769
42.487
731
3.934
19.463
18.359
2.070
2.265
14.024
45.777
43.556
2.755
3.286
20.880
16.635
1.628
2.248
12.759
30.273
28.705
3.704
3.669
3.682
17.650
1.636
-561
16.575
58.547
57.427
6.368
4.423
15.520
31.116
3.153
3.261
24.702
37.123
37.213
3.746
11.303
20.476
1.766
1.842
16.868
36.795
36.095
3.952
3.976
12.039
16.128
834
2.186
13.108
BY BORROWING SECTOR:
DEBT INSTRUMENTS
FOREIGN
S. ♦ L. GOVERNMENTS
HOUSEHOLDS
NONFINANCIAL BUSINESS
FARM
NONFARM NONCORPORATE
CORPORATE
1.587
-164
1.751
2.130
-39
2.169
1.282
-5
1.287
2 .2 2 1
8
1.568
13
1.555
1 .1 2 0
2.213
-124
1.244
-90
-85
-5
700
1.999
19.935
16.241
2.040
26.621
20.627
726
19.646
15.311
2.763
18.848
14.972
3.717
19.205
18.130
6.244
32.360
25.946
1.603
20.471
16.863
3.952
16.828
13.808
373
-550 -3.050 MEMO: U.S. GOVT. CASH BALANCE
TOTALS NET OF CHANGES IN U.S. GOVT. CASH BALANCES—
51.987 42.170 51.114 TOTAL FUNDS RAISED
-6.560
5.047 14.319
BY U.S. GOVERNMENT
8 .8 6 8
34
35
36
7.528
85.050
67.151
74.747
37
-1.675
-4.758
19
1.392
2.257
-366
-5.275
1.709
-1.531
38 189.040 180.464
39 11.389 17.726
39.355
5.719
62.032
11.545
43.000
6.596
46.073
-5.628
48.587
4.818
51.380
5.603
35.193
4.920
88 *864
37.123
-90
37.213
1.313
4.375
928
7.420
-2 0 0
3
4
5
22.161
3.927
4.577
13.657
8.373
2.013
1.999
1.272
21.400
13.101
2.395
4.726
1.178
2 .2 2 0
1
2
11.269 U,.S. GOVERNMENT
11.647
PUBLIC DEBT SECURITIES
-378
AGENCY ISSUES ♦ MORTGAGES
29.112
5.007
5.823
18.282
10.477
31
32
33
7.220
TOTAL FUNDS RAISED
BY NONFINANCIAL SECTORS
EXCLUDING EQUITIES
20.041
4.012
4.338
11.691
6.320
1.299
3.181
891
2.8 6 6
21.746
3.755
2.507
15.484
1 .1 2 0
48.064
47.364
1 .6 8 8
2 .0 1 0
1.938
1.292
700
0
DEBT CAPITAL INSTRUMENTS
S. ♦ L. GOVERNMENT SECS.
CORPORATE + FOREIGN BONDS
MORTGAGES
HOME MORTGAGES
OTHER RESIDENTIAL
COMMERCIAL
FARM
6
7
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
CORPORATE EQUITIES
FOREIGN
CORPORATE BUSINESS
31
32
33
TOTALS INCLUDING EQUITIES
FOREIGN
NONFINANCIAL BUSINESS
CORPORATE
34
35
36
38
39
PRIVATE DOMESTIC NET INVESTMENT AND BORROWING IN CREDIT MARKETS
1 334.657 330.662
2 210.976 220.391
82.129
53.301
28.828
92.174
53.760
38.414
75.530
54.175
21.355
85.693
54.910
30.783
81.532
55.355
26.177
87.907
55.951
31.956
TOTAL, HOUSEHOLDS ♦ BUSINESS
TOTAL CAPITAL OUTLAYS 11)
CAPITAL CONSUMPTION (2)
NET PHYSICAL INVESTMENT
3
NET FUNDS RAISED
EXCESS NET INVESTMENT (3)
4
5
3 123.681 110.271
72.966
48.827
24.139
4 157.865 131.408
5 -34.184 -21.137
29.411 45.676
-5.272 -14.134
31.835 47.193 39.109
-7.299 -15.290 -10.281
39.728
-1.314
22.887 47.880
-1.532 -17.097
31.774
-5.597
28.867
3.089
6 160 .525 164.073
95.235 103.108
65.290 60.965
33.822
22.105
11.717
35.064
22.651
12.413
35.316
23.027
12.289
41.286
23.708
17.578
39.590
23.975
15.615
44.333
24.525
19.808
38.329
24.936
13.393
45.179
25.512
19.667
39.564
26.066
13.498
41.001
26.594
14.407
77.630 85.370
10
7.420
3.494
11 -19.760 -27.899
12.429
2.596
-3.308
18.513
2.640
-8.740
18.184
1.751
-7.646
24.452
2.169
-9.043
18.359
1.287
-4.031
16.635
2.213
960
17.650 31.116
1.555
1.244
-5.812 -12.693
20.476
-5
-6.973
16.128
700
-2.421
12 121.509 125.820
72.517
53.303
25.438
15.822
9.616
27.448
16.158
11.290
26.549
16.455
10.094
30.972
16.803
14.169
29.099
16.960
12.139
34.889
17.246
17.643
29.037
17.518
11.519
33.865
17.898
15.967
29.435
18.330
11.105
33.483
18.771
14.712
15 59.731 71.253
16
7.420
3.494
17 -13.106 -21.444
9.511
2.596
-2.491
13.794
2.640
-5.144
14.490
1.751
-6.147
18.458
2.169
-6.458
14.024
1.287
-3.172
12.759
2.213
2.671
16.575
1.555
-6.611
24.702
1.244
-9.979
16.868
-5
-5.758
13.108
700
904
18 174.132 166.589
19 115.741 117.283
20 58.391 49.306
39.144
26.722
12.422
46.540
27.411
19.129
40.395
28.148
12.247
43.357
29.032
14.325
42.539
29.326
13.213
47.841
29.235
18.606
37.201
29.239
7.962
40.514
29.398
11.116
41.968
29.289
12.679
46.906
29.357
17.549
21 72.815
22 -14.424
42.544
6.762
14.386
-1.964
24.523
-5.394
11.900
347
20.572
-6.247
19.463
-6.250
20.880
-2.274
3.682
4.280
15.520
-4.404
11.303
1.376
12.039
5.510
23 -17.029 -1C.310
24
4.136 13.736
25
2.746
2.653
26
4.277
-683
-4.020
30
706
-1.320
-3.593
1.729
750
4.280
-3.702
2.730
554
-765
-6.072
-25
762
912
-5.016
-521
767
1.480
-2.239
1.952
663
2.650
-3.146
4.154
576
-2.696
-5.844
910
716
186
-1.099
1.851
699
75
6.821
662
1.752
7
8
9
13
14
67.464
54.045
81.604
50.062
31.542
75.711
51.175
24.536
84.643
52.740
31.903
-2 2 1
TOTAL BUSINESS
TOTAL CAPITAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYSICAL INVESTMENT
NET DEBT FUNDS RAISED
CORPORATE EQUITY ISSUES
EXCESS NET INVESTMENT C3)
CORPORATE BUSINESS
TOTAL CAPITAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYSICAL INVESTMENT
NET DEBT FUNDS RAISED
CORPORATE EQUITY ISSUES
EXCESS NET INVESTMENT (3)
HOUSEHOLDS
TOTAL CAPITAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYSICAL INVESTMENT
NET FUNDS RAISED
EXCESS NET INVESTMENT (3)
OF WHICH:
HOUSES LESS HOME MORTGAGES
DURABLES LESS CONS. CREDIT
NONPROFIT P+E LESS MORTGAGES
LESS: UNALLOCATED DEBT
<1) CAPITAL OUTLAYS ARE TOTALS FOR RESIDENTIAL AND NONRESIDENTIAL
FIXED CAPITAL, NET CHANGE IN INVENTORIES, AND CONSUMER DURABLES,
EXCEPT OUTLAYS BY FINANCIAL BUSINESS.
(2) CAPITAL CONSUMPTION INCLUDES AMOUNTS FOR CONSUMER DURABLES
AND EXCLUDES FINANCIAL BUSINESS CAPITAL CONSUMPTION.
(3) EXCESS OF NET INVESTMENT OVER NET FUNDS RAISED.
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
1
2
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
5 FEBRUARY 1975
CREDIT MARKET SUPPLY OF FUNDS
CREDIT MARKET SUPPLY OF RUNDS
DIRECT AND INDIRECT SOURCES OF FUNDS TO CREDIT MARKETS
{MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1973
UNADJUSTED QUARTERLY FLOWS
I
1972
| III
1974
1 180.145 172.408
IV
|
I
1973
I
II
III
IV
I
(
1974
I
II
III
IV
36.859
60.993
43.670
43.577
42.030
50.868
32.094
51.240
TOTAL FUNDS ADVANCED IN CREDIT MARKETS
41.710 47.364
TO NONFINANCIAL SECTORS
BY PUBLIC AGENCIES + FOREIGN
33.202
10.952
7.607
7.168
7.475
49.017
8.826
13.879
6.657
19.655
5.216
1.900
1.259
661
1.396
3.772
239
1.154
1.243
1.136
15.894
11.672
975
441
2.806
3.992
-1.336
1.193
2.725
1.410
7.840
-765
3.392
3.153
2.060
5.476
1.381
2.047
849
1.199
4.576
-1.814
2.148
-152
4.394
15.218
5.954
3.336
2.647
3.281
14.364
796
4.405
3.130
6.033
5.922 1.390
24.018
1.136
6.150 -2.457
12.927 5.147
468
2.034
1.258
12
904
3.113
4.001
7.876
-507
5.859
9
10
2.982
20.255
9.227
738
-2.560
1.982
6.987
489
-1.618
603
4.296
3.537
-2.960
391
3.002
-257
1.440
707
6.915
3.610
3.986
1.302
8.654
1.461
2.947
11
19.589
21.641
1.592
2.684
5.874
7.043
3.988
1.796
6.447
8.942
7
8
1.083
1.200
14.859 TOTAL NET ADVANCES, BY TYPE
3.890
U.S. GOVERNMENT SECURITIES
3.990
RESIDENTIAL MORTGAGES
1.032
FHLB ADVANCES TO S+L*S
5.947
OTHER LOANS + SECURITIES
TOTALS ADVANCED, BY SECTOR
3.522
U.S. GOVERNMENT
5.447
SPONSORED CREDIT AGENCIES
1.336
MONETARY AUTHORITIES
4.554
FOREIGN
AGENCY BORROWING NOT INCLUDED
4.456
IN LINE 1
2
3
4
5
6
7
8
9
10
11
PRIVATE DOMESTIC FUNDS ADVANCED
12 166.532 145.032
13
14
15
16
17
18
18.422
13.709
10.053
44.083
87.433
7.168
32.726
4.942
3.682
3.051
12.879
8.833
661
25.135
16.958
19.774
24.964
64.858
6.657
58.813
14.312
2.996
2.701
13.261
26.786
1.243
30.460
-114
2.724
1.505
9.762
17.024
441
45.459
1.239
3.243
3.125
14.110
26.467
2.725
41.233
7.372
3.987
2.733
12.083
18.211
3.153
49.380
9.925
3.755
2.690
8.128
25.731
849
29.314
7.002
4.012
4.051
5.468
8.629
-152
42.469
-5.667
5.007
5.483
9.334
30.9 59
2.647
36.288
12.530
3.927
4.504
5.984
12.473
3.130
36.961 TOTAL NET ADVANCES
11.270
U.S. GOVERNMENT SECURITIES
4.012
STATE + LOCAL OBLIGATIONS
5.736
CORPORATE + FOREIGN BONDS
4.178
RESIDENTIAL MORTGAGES
12.797
OTHER MORTGAGES + LOANS
1.032
LESS: FHLB ADVANCES
12
13
14
15
16
17
18
PRIVATE FINANCIAL INTERMEDIATION
612
46.767
26.001
11.433
4.087
5.246
33.834
17.553
6.230
6.416
3.635
41.903
27.978
3.425
4.963
5.537
24.485
9.607
10.405
5.981
-1.508
46.428
28.344
7.956
8.197
1.931
23.645
6.671
4.839
9.692
2.443
CREDIT MARKET FUNDS ADVANCED
BY PRIVATE FINANCIAL INSTS.
COMMERCIAL BANKING
SAVINGS INSTITUTIONS
1 0 .2 1 2
INSURANCE + PENSION FUNDS
2.872
OTHER FINANCE
36.339
19.314
8.180
46.767
24.992
9.304
33.834
12.457
8.967
41.903
28.112
5.147
24.485
12.796
3.268
46.428
27.527
7.491
23.645
1.488
6.578
34.691 SOURCES OF FUNDS
30.055
PRIVATE DOMESTIC DEPOSITS
-755
CREDIT MARKET BORROWING
24
25
26
11.440
897
1.405
4.285
4.853
8.845
262
515
4.243
3.825
12.471
2.225
-956
3.651
7.551
12.410
864
-2.224
5.717
8.053
8.644
3.115
1.655
3.131
743
8.421
2.327
-1.255
4.167
3.182
11.410
2.829
-243
7.241
1.583
15.579
3.366
-1.097
8.498
4.812
5.391
3.423
-2.700
9.124
-4.456
27
28
29
30
31
1.704
1.676
697
1.456
-2.407
282
9.403
4.657
658
-386
2.105
2.369
2.301
2.794
1.366
337
-260
-1.936
7.996
2.989
1.553
501
1.463
1.490
16.366
9.079
1.863
14
4.927
483
12.624
3.891
-349
207
5.149
3.726
8.097
4.667
1.895
1.114
2.751
-2.330
3.532
2.324
-645
540
1.321
19.221
11.487
5.237
-901
2.737
661
1.515 DIRECT LENDING IN CR. MARKETS
1.738
U.S. GOVERNMENT SECURITIES
3.055
STATE + LOCAL OBLIGATIONS
-2.603
CORPORATE + FOREIGN BONDS
-3.914
OPEN-MKT PAPER + RP"S
3.239
OTHER
32
33
34
35
36
37
19.413
5.383
4.464
10.355
41.884
20.119
2.271
7.609
10.239
17.918
29.905
9.848
8.250
11.807
28.640
19.061
3.771
6.619
8.671
11.128
15.835
8.693
6.239
903
31.130
11.450
-3.764
8.433
6.781
12.653
25.165
4.430
10.359
10.376
31.334
21.144
10.701
6.060
4.383
475
7.599
6.607
845
147
33.409 DEPOSITS + CURRENCY
16.542
TIME ♦ SAVINGS ACCOUNTS
2.415
LARGE NEGOTIABLE CD»S
7.304
OTHER AT COMMERCIAL BANKS
6.823
AT SAVINGS INSTITUTIONS
38
39
40
41
42
7.421
1.416
6.005
-789
658
-1.447
21.765 -11.987
17.851 -10.591
3.914 -1.396
9.579
5.931
3.648
-4.707
-3.378
-1.329
19.680 -12.512
16.662 -12.369
3.018
-143
10.190
6.383
3.807
-7.124
-6 .1 1 1
-1.013
16.867
13.513
3.354
MONEY
DEMAND DEPOSITS
CURRENCY
43
44
45
46 128.103 110.236
21.117
51.287
36.636
27.494
43.754
20.750
34.866
19.696
TOTAL OF CREDIT MARKET INSTRU34.924
MENTS, DEPOSITS + CURRENCY
6.184 36.395
9.160
96.606 119.300 102.877
909
8.138
-335
18.653
82.055
-754
10.765
84.858
155
14.258 29.699
83.526 109.322
3.767
6.815
34.437
65.159
6.313
31.371 PUBLIC HOLDINGS AS * OF TOTAL
93.858 PVT. FINAN. INTERMEDIATION U)
7.977 TOTAL FOREIGN FUNDS
19 158.843 129.249
86.600 61.807
35.081 27.622
22.132 34.082
5.738
23 15.030
35.933
14.191
13.168
5.227
3.347
56.817
33.269
10.919
4.408
8 .2 2 1
24 158.843 129.249
25 84.875 71.866
26 31.598 16.582
35.933
20.860
4.911
56.817
37.970
7.407
27
28
29
30
31
42.370
6.466
- 1 .0 1 0
16.742
20.172
40.801
11.945
-5.295
29.030
5.121
10.162
1.727
387
3.822
4.226
32
33
34
35
36
37
39.287
18.753
4.433
1.059
11.279
3.763
32.365
17.884
12.511
-3.035
2.114
2.891
38
39
40
41
42
88.816
76.251
18.548
29.541
28.162
77.871
70.450
24.153
24.568
21.729
43
44
45
12.565
8.624
3.941
20
21
22
36.339
15.068
13.993
6 .6 6 6
34.691
17.185
4.422
OTHER SOURCES
FOREIGN FUNDS
TREASURY BALANCES
INSURANCE ♦ PENSION RES.
OTHER, NET
19
20
21
22
23
PRIVATE DOMESTIC NONFINANCIAL INVESTORS
47
48
49
18.430
95.382
7.204
2 0 .2 0 2
28.430 14.151
89.117 109.799
24.872
6.874
20.219
-8
CORPORATE EQUITIES NOT INCLUDED ABOVE
1
2
886
8.032
-1.586
9.618
6.052
1.573
4.479
2.878
-247
3.125
3.259
-19
3.278
2.294
-342
2.636
2.533
-642
3.175
2.356
128
2.228
849
-730
1.579
2.129
181
1.94B
809
-572
1.381
745
141
2.228 TOTAL NET ISSUES
1.219
MUTUAL FUND SHARES
1.009
OTHER EQUITIES
4 13.446
5 -5.414
5.042
2.388
490
6 .1 0 1
1 .8 8 6
-2.842
408
3.339
-806
1.674
682
6.547
-5.698
840
1.289
2.243
-1.434
841
45
1 .1 1 0 OTHER NET PURCHASES
3
1 .0 1 0
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
1.118 ACQ. BY FINANCIAL INSTITUTIONS
5 FEBRUARY 1975
HOUStHOLDS
HOUSEHOLDS
3
3
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1974
UNADJUSTED QUARTERLY FLOWS
I
1972
| III
1973
IV
|
II
1974
III
II
III
HOUSEHOLDS, PERSONAL TRUSTS, AND NONPROFIT ORGANIZATIONS
11055.0421150.440 238.417 257.134 242.851 258.453 267.801 285.937 267.359 282.208 292.774 308.099 PERSONAL INCOME
2 151.330 170.740 36.693 33.805 34.518 37.346 41.001 38.465 39.070 42.534 46.616 42.520 - PERSONAL TAXES
NONTAXES
903.712 979.700 201.724 223.329 208.333 221.107 226.800 247.472 228.289 239.674 246.158 265.579 = DISPOSABLE PERSONAL INCOME
829.364 902.981 187.645 204.532 191.711 206.064 207.340 224.249 207,346 224.034 228.553 243.048 - PERSONAL OUTLAYS
74.348 76.719 14.079 18.797 16.622 15.043 19.460 23.223 20.943 15.640 17.605 22.531 = PERSONAL SAVING, NIA BASIS
2.039
11.540 14.769
2.291
2.967
4.811
2.306
1.799
3.750 + CREDITS FROM GOVT. INSURANCE
2.132
6.735
2.485
944
608
720
485
140
63
256
111
354
56
23
175 + CAPITAL GAINS DIVIDENDS
5.194 10.317
27.058 23.371
4.486
7.738
5.431
9.403
6.763
1.240
6.332
9.036 + NET DURABLES IN CONSUMPTION
3
4
5
6
7
8
9 113.890 115.467 21.423
10 115.741 117.283 26.722
11 229.631 232.750 48.145
32.801
27.411
60.212
23.884
28.148
52.032
27.732
29.032
56.764
27.086
29.326
56.412
35.188
29.235
64.423
24.336
29.239
53.575
29.194
29.398
58.592
26.445
29.289
55.734
35.492 = NET SAVING
29.357 + CAPITAL CONSUMPTION
64.849 = GROSS SAVING
10
11
12 235.640 247.400 52.728
13 174.132 166.589 39.144
14 37.537 32.539 8.690
15 130.310 127.753 28.884
1.570
16
6.285
6.297
58.093
46.540
10.263
34.658
1.619
52.945
40.395
9.412
29.556
1.427
60.309
43.357
33 .612
1.643
59.129
42.539
9.239
31.646
1.654
63.257
47.841
10.784
35.496
1.561
58.855
37.201
8.414
27.307
1.480
60.047
40.514
5.988
32.900
1.626
62.327
41.968
7.960
32.395
1.613
66.171 GROSS INVESTMENT
46.906
CAPITAL EXPEND.-NET OF SALES
10.177
RESIDENTIAL CONSTRUCTION
35.151
CONSUMER DURABLE GOODS
1.578
NONPROFIT PLANT + EQUIP.
12
13
14
15
16
17 61.508 80.811 13.584
18 130.760 121.923 28.902
11.553
36.655
12.550
23.729
16.952
36.436
16.590
35.284
15.416
35.311
21.654
25.781
19.533
35.054
20.359
29.471
19.265 NET FINANCIAL INVESTMENT
31.617
NET ACQ. OF FINANCIAL ASSETS
19 110.439
20 13.054
84.948
3.699
23.274
1.484
32.538
14.195
18.756
-7.103
29.685
5.717
28.216
59
33.782
14.381
18.059
-7.925
24.697
5.897
2.1.333
-3.285
20.859
9.012
DEP. + CR. MKT. INSTR. ID 19
DEMAND DEP. + CURRENCY
20
21
22
23
67.673
39.511
28.162
59.147
37.418
21.729
19.402
9.047
10.355
15.258
5.019
10.239
23.452
11.645
11.807
18.511
9.840
8.671
12.658
11.755
903
13.052
6.271
6.781
21.936
11.560
10.376
15.403
7.121
6.974
147
14.687
7.864
6.823
TIME + SAVINGS ACCOUNTS 21
AT COMMERCIAL BANKS
22
AT SAVINGS INST.
23
25
26
27
28
29
20.360
4.335
1.059
3.464
494
12.958
11.737
-3.035
-350
792
1.402
72
1.456
-544
2.407
3.901
337
-1.971
-861
5.457
4.617
776
501
-1.004
567
15.499
10.183
2.300
14
2.617
385
6.349
1.659
258
207
3.822
403
4.048
3.864
1.326
1.114
- 1 .8 8 6
-370
3.397
1.577
2.290
-645
-104
279
17.497
11.026
5.149
-901
2
3.085
2.223
244
-386
1.711
-707
2 .0 0 1
222
-3.509
2.972
-2.603
-361
661
CREDIT MKT. INSTRUMENTS
U.S. GOVT. SECURITIES
S. + L. OBLIGATIONS
CORPORATE ♦ FGN. BONDS
COMMERCIAL PAPER
MORTGAGES
30
31
-1.586
-6.586
.573
-835
-247
414
-19
-3.910
-342
-523
-642
-292
12 8
-317
-730
-5.454
181
732
-572
-874
745
-784
1.219
91
INVESTMENT COMPANY SHARES 30
OTHER CORPORATE SHARES
31
32
33
7.277
24.359
7.274
31.474
1.647
5.069
1.701
7.254
1.767
5.686
1.841
7.289
1.857
5.830
1.812
5.554
1.785
4.611
1.874
10.950
1.826
7.189
1.789
8.724
LIFE INSURANCE RESERVES
PENSION FUND RESERVES
34
35
36
-4.434
-206
1.497
-4.545
-214
2.248
-165
675
-1.896
265
722
-1.763
-175
323
-1.496
-328
379
-1.015
183
402
-160
114
393
69
-197
541
-1.351
-223
553
-1.502
92
572
114
582
11.179
11.900
10.554
355
2.043
-287
-1.138
373
19.484
20.572
11.543
354
6.643
494
418
18.694
19.463
11.681
350
6.075
-123
615
865
19.895
20.880
10.430
349
5.344
2.107
1.829
821
4.127
3.682
8.946
346
-1.669
-1.245
-3.126
430
15.521
15.520
9.137
344
4.847
1.006
-674
860
9.112
11.303
6.405
342
4.524
-43
-829
904
340
985
1.230
1.072
680
1 .0 0 1
8 .1 0 2
1 1 .0 2 0
4.383
40
41
42
43
44
1.408
20.105
2.817
1.800
2.477
1.372
363
8.687 4.828
336
948
-3.557 -1.789
469
2.874
25.102
24.523
11.297
358
6.139
2.449
4.096
184
45
46
47
-4.570
607
400
-2.416
582
402
620
164
148
295
157
127
-984
152
-1.338
152
98
-1.014
152
93
-1.234
151
98
197
149
99
-244
146
99
-2.438
145
111
-6.009 -14.650
-4.583
2.119
-913
-3.545
-2.717
1.166
-5.280
-1.455
-6.593
1 .1 2 0
102
69
142
102
9
24
25
26
27
28
29
32
33
NET INV. IN NONCORP. BUS. 34
SECURITY CREDIT
35
MISCELLANEOUS ASSETS
36
CREDIT MARKET INSTRUMENTS
HOMf MORTGAGES
OTHER MORTGAGES
INSTALMENT CONS. CREDIT
OTHER CONSUMER CREDIT
BANK LOANS N.E.C.
OTHER LOANS
38
39
40
41
42
43
44
SECURITY CREDIT
TRADE DEBT
MISCELLANEOUS
45
46
47
-1.322 DISCREPANCY
48
(1) EXCLUDES CORPORATE EQUITIES.
49 37.537 32.539
50 10.358 10.629
51 44.208 32.220
52 -17.029 -10.310
8.690
2.531
10.179
-4.020
10.263
2.559
11.297
-3.593
9.412
2.560
10.554
-3.702
9.239
2.574
11.681
-5.016
10.784
2.593
10.430
-2.239
8.414
2.614
8.946
-3.146
5.988
2.695
9.137
-5.844
7.960
2.654
6.405
-1.099
10.177
2.631
11.543
-6.072
53 130.310 127.753
54 103.252 104.362
55 27.058 23.371
28.884
23.690
5.194
34.658
24.341
10.317
29.556
25.070
4.486
33.612
25.874
7.738
31.646
26.215
5.431
35.496
26.093
9.403
27.307
26.067
1.240
32.900
26.137
6.763
32.395
26.063
6.332
35.151
26.115
9.036
8 .1 0 2
2 .6 6 6
7.732
-2 2 1
MEMORANDA:
NET PHYSICAL INVESTMENT:
(A) RESIDENTIAL CONSTRUCTION
EXPENDITURES
- CAPITAL CONSUMPTION
- HOME MORTGAGES
= EXCESS NET INVESTMENT
(B) CONSUMER DURABLES
EXPENDITURES
- CAPITAL CONSUMPTION
= NET INVESTMENT
49
50
51
53
54
55
56
57
22.922
4.136
9.635
13.736
5.164
30
8.588
1.729
1.756
2.730
7.763
-2 5
5.952
-521
7.451
1.952
-2.914
4.154
5.853
910
4.481
1.851
2.215
6.821
- CONSUMER CREDIT
= EXCESS NET INVESTMENT
56
57
58
59
60
61
6.285
2.131
1.408
2.746
6.297
2.272
1.372
2.653
1.570
501
363
706
1.619
511
358
750
1.427
518
355
554
1.643
527
354
762
1.654
537
350
767
1.561
549
349
663
1.480
558
346
576
1.626
566
344
716
1.613
572
342
699
1.578
576
340
662
(C) NONPROFIT PLANT + EQUIP.
EXPENDITURES
- CAPITAL CONSUMPTION
- NONPROFIT MORTGAGES
= EXCESS NET INVESTMENT
58
59
60
61
62
63
14.343
8.226
14.841
7.830
15.390
6.979
13.146
8.416
14.213
7.978
14.449
6.803
15.310
8.580
13.452
9.384
14.613
9.173
15.071
6.525
15.922
7.151
64
25.063
23.390
23.615
26.523
24.646
25.110
24.634
25.765
23.248
23.772
PER CENT OF DISPOSABLE INCOME ADJ. (2):
22.413 24.062 GROSS SAVING
65
19.005
14.272
7.558
7.947
16.741
12.252
4.131
4.275
19.200
14.176
7.513
7.056
20.500
16.146
11.057
10.802
19.134
11.240
5.295
5.636
19.179
16.117
8.619
9.100
18.576
15.408
8.163
8.499
19.133
14.122
7.956
8.350
16.143
11.187
1.790
1.597
16.438
14.222
6.297
6.297
16.877
11.851
3.664
4.545
66
67
68
PER CENT RATIOS:
13.800 EFFECTIVE TAX RATE
8.483 SAVING RATE, NIA BASIS
17.404
11.731
4.583
4.467
CAPITAL EXPENDITURES
ACQUISITION OF FINAN. ASSETS
NET INCREASE IN LIABILITIES
CREDIT MARKET BORROWING
69 916.196 995.077 203.874 227.016 211.109 226.058 228.995 250.034 230.442 246.465 248.666 269.504 (2) DISPOSABLE INCOME ADJ.
(NIA DISPOSABLE INCOME ♦ GOVT. INSURANCE CREDITS ♦ CAPITAL GAINS DIVID.l
IV/74 FIGURES ARE TENTATIVE
ESTIMATES BASED ON INCOMPLETE INFORMATION.
62
63
65
66
67
68
5 FEBRUARY 1975
TOTAL + NONCORP BUSINESS
TOTAL ♦ NONCORP BUSINESS
4
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
UNADJUSTED QUARTERLY FLOWS
1974
|
1972
| III
|
|
IV
II
III
NONFINANCIAL
1 183.881 177.988
2 112.649 112.480
98.845 99.426
160.525 164.073
145.156 150.689
125.696 137.499
-573
-346
20.033 13.536
15.369 13.384
39.029
24.896
42.248
34.016
20.867
33.822
32.919
26.574
2.006
4.339
903
25.287
35.064
33.096
28.828
-187
4.455
1.968
10 -61.680 -64.647 -12.955
11 43.858 50.128
12 105.538 114.775
3.494
13
7.420
14 77.630 85.370
9.159 19.044
15
-864
16
-872
17 28.439 22.328
18 34.024 27.269
19
5.076 15.953
20
7.633
20.588
2.596
12.429
3.037
1.466
6.787
1.715
-749
20.062
426
2 2 .8 8 8
21
3.023
6.389
-826
22
13.804
13.054
4.029
1974
1973
42.679
24.776
24.235
35.316
30.451
27.874
-1.857
4.434
4.865
46.101
25.542
22.850
41.286
39.193
32.300
1.153
5.740
2.093
II
III
BUSINESS - TOTAL
46.651
26.008
48.450
36.323
43.940
25.682
44.948
24.769
44.176
24.995
44.924 INCOME BEFORE TAXES
37.034 GROSS SAVING
30.248
44.333
37.099
33.999
-1.785
4.885
7.234
26.061
38.329
31.664
31.071
-3.131
3.724
6.665
22.034
45.179
42.457
35.874
1.859
4.724
2.722
20.435
39.564
39.530
34.134
2.683
2.713
34
30.896 GROSS INVESTMENT
41.001 CAPITAL EXPENDITURES
37.038
FIXED INVESTMENT
36.420
BUSINESS PLANT + EQUIPMENT
-1.757
NONFARM HOME CONST. (1)
2.375
MULTI-FAMILY RESIDENTIAL
3.963
CHANGE IN INVENTORIES
21.512
39.590
38.413
31.523
1.916
4.974
1.177
-9.777 -11.081 -18.436 -18.078 -14.085 -12.268 -23.145 -19.129 -1C.105 NET FINANCIAL INVESTMENT
7.110
FINANCIAL USES OF FUNDS, NET
9.944 15.133 17.202 10.683
13.941 10.224 13.417 10.273
FINAN. SOURCES OF FUNDS* NET
23.718 21.305 31.853 28.351 24.029 27.401 40.347 29.812 17.215
CORPORATE SHARE ISSUES
700
1.244
-5
2.169
2.213
1.287
1.555
2.640
1.751
CREDIT MARKET INSTRUMENTS
18.513 18.184 24.452 18.359 16.635 17.650 31.116 20.476 16.128
5.761
CORPORATE BONDS
5.386
4.192
2.657
3.705
2.563
1.452
3.047
2.003
HOME MORTGAGES
1.340
1.968 -1.554
848
1.420 -1.562 -2.626
-254 -1.570
7.949
4.900
OTHER MORTGAGES
4.942
5.836
8.387
6.267
5.025
7.461
7.863
4.026
BANK LOANS N.E.C.
6.343
6.392 13.704
3.147
7.857 11.831 10.157
5.693
OTHER LOANS
3.133
4.743
3.392
316
314
1.478
151
2.801
5.017
3.263
-698
65
1.305
8.838
-3.606
7.42 5
1.280
3.734
1.447
4.488
3.708
9.721
-1.734
7.719
1.622
960
-573
TRADE DEBT
OTHER LIABILITIES
2.692
4.496
6.075
-379
2.735
4.560
6.138 DISCREPANCY
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
FARM BUSINESS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
6 .0 0 1
8.672
9.720
5.081
609
1.883
148
1.735
2.492
500
1.947
150
1.797
2.447
8.730
13.927
9.454
504
3.969
9.720
15.423
12.271
745
2.407
2.492
2.128
1.808
173
147
-5.197
715
-5.703
829
69
760
572
188
38.529
308
8.422
62 3
7.799
8.730
31.782
380
9.340
0
715
555
160
23
24
1 .1 0 2
6.532
7.389
4.810
773
1.806
156
1.650
25
26
1.462
-4.167
1.511
-2.368
20
21
22
5.912
8.617
4.383
3.013
668
1 .2 2 1
119
8 .018
1 .841
1 .988
8.909
-732
2.115
154
1.961
1.383
10.387
296
2.119
157
1.962
2.415
11.215
749
2.195
160
2.035
2.944
9.775
116
2.258
163
2.095
2.374
7.282
-724
2.321
169
2.152
1.597
7.450
338
2.366
168
2.198
2.704
7.275
650
2.395
168
2.227
3.045
2.447
2.230
1.960
131
139
1 .988
3 .2 1 1
2 .237
105
869
1.383
3.329
2.480
92
757
2.415
3.617
2.365
140
2.944
3.770
2.372
167
1.231
2.374
3.978
2.882
151
945
1.597
4.146
3.181
185
780
2.704
3.773
3.032
224
517
3.045 GROSS INVESTMENT
3.526 CAPITAL EXPENDITURES
3.176
PLANT + EQUIPMENT
185
RESIDENTIAL CONSTRUCTION
CHANGE IN INVENTORIES
165
364
231
76
155
150
5
217
241
47
194
145
49
- 1 .223
-1.946
187
- 1 .2 0 2
17 5
-13
188
137
51
-826
169
-2.549
231
-1.069
1
167
139
28
-1.604
177
19
158
141
17
30
192
144
48
-133
587
635
90
-138
41
-179
24
899
444
614
-159
-54
-105
1 .407
2 .086
1.377
2.070
1.178
715
177
-34
1.781
1.636
891
373
372
25
347
2.780
3.153
1.355
744
1.054
118
936
1.291
1.766
1.272
56
438
378
-1.098
369
-1.244
366
-2 2 1
-5
1 .993
152
184
19
165
141
24
998
686
402
98
304
365
- 1 .044
-8
195
138
57
1 .1 1 2
2
558
211
995
1.628
928
627
73
44
29
366
-1.066
366
-1.059
365
-998
2.133
2.833
1.279
985
569
11
230
142
88
222
NET INCOME
NET SAVING
CAPITAL CONSUMPTION
CORPORATE
NONCORPORATE
CURRENT SURP. = GROSS SAVING
-481 NET FINANCIAL INVESTMENT
199
NET INCR. IN FINAN. ASSETS
DEMAND DEPOSITS + CURRENCY
19
MISCELLANEOUS ASSETS
180
145
INSURANCE RECEIVABLES
35
EQ. IN SPONS. AGS. (2)
9
10
11
12
13
14
15
16
17
450
680
834
1.292
-400
-58
25
-83
NET INCREASE IN LIABILITIES
CREDIT MARKET INSTRUMENTS
MORTGAGES
BANK LOANS N.E.C.
OTHER LOANS
U.S. GOVERNMENT
FICB
23
24
369
-742
392
-867
384
-538
TRADE DEBT
PROPRIETOR NET INVESTMENT
25
26
-12
19
20
21
22
NONFARM NONCORPORATE BUSINESS
1
67.742
71.287
16.682
16.788
16.865
16.740
16.984
17.153
17.355
17.662
18.098
2
19.349
19.323
21.251
21.315
4.400
2.364
4.546
10.789
4.579
2.869
4.790
2.711
4.896
2.013
5.084
11.730
5.160
2.953
5.293
2.493
5.370
2.756
5.428 CAPITAL CONSUMPTION
13.113 CURRENT SURP. = GROSS SAVING
21.315
22.830
21.953
12.844
-545
9.654
877
2.364
6.256
7.032
3.066
917
3.049
-776
10.789
5.386
6.356
3.239
-159
3.276
-970
2.869
5.556
5.538
3.029
-981
3.490
18
2.711
6.985
7.514
3.301
531
3.682
-529
2.013
6.874
7.617
3.260
10
19.323
25.089
26.570
12.923
-538
14.185
-1.481
3.469
-743
11.730
5.674
5.901
3.333
-976
3.544
-227
2.953
5.314
4.470
2.984
-1.641
3.127
844
2.493
7.168
6.923
3.279
837
2.807
245
2.756
6.356
6.448
3.256
1.230
1.962
-92
13.113 GROSS INVESTMENT
3.992 CAPITAL EXPENDITURES
FIXED CAPITAL
4.112
PLANT ♦ EQUIPMENT
3.325
HOME CONSTRUCTION (1)
-971
1.758
MULTI-FAMILY RESIDENTIAL
-12 0
CHANGE IN INVENTORIES
11
12
-5.766
2.255
-1.515
1.973
-3.892
180
5.403
1.303
-2.687
326
-4.274
432
-4.861
148
6.056
1.349
-2.361
90
-4.675
440
-3.600
313
13
14
15
16
17
0
0
0
0
0
0
0
0
0
0
1.264
991
971
959
1.014
971
43
-77
257
255
1.055
248
248
181
251
243
8
2
-160
250
243
7
176
264
242
0
-99
247
242
5
1.105
244
242
2
77
249
244
5
0
66
22
247
243
4
18
19
8 .0 2 1
23
9.282
7.067
-432
5.935
1.564
3.488
6.728
5.858
-436
5.295
999
4.072
2.331
2.951
733
1.854
364
-4.100
3.820
2.618
-127
2.342
403
3.013
1.608
792
-785
1.271
306
4.706
3.161
2.928
424
2.087
417
5.009
2.265
2.827
710
1.679
438
-4.707
2.248
520
-781
898
403
2.451
-561
-104
-1.313
925
284
5.115
3.261
2.613
670
1.554
389
3.913
1.842
2.559
984
1.409
166
-7.991
2.186
790
-777
1.407
160
24
25
382
1.833
-1.047
1.917
-223
-397
327
875
109
707
106
127
-410
-152
577
1.151
-585
128
266
382
-520
-197
-208
1.604
26
27
-994
-267
-1.063
-2.177
2.408
-667
-7.268
-652
2.124
-719
1.975
-430
2.700
44
-7.793
838
2.722
290
2.463
-609
2.706
-635
-8.954
-1.223
3
4
5
6
7
8
9
20
21
22
20
888
18.172 NET INCOME
9.121 NET FINANCIAL INVESTMENT
NET ACQ. OF FINANCIAL ASSETS
1.130
DEMAND DEPOSITS ♦ CURRENCY
0
877
CONSUMER CREDIT
253
MISCELLANEOUS ASSETS
243
INSURANCE RECEIVABLES
EQ. IN SPONS. AGS. 12)
10
NET INCREASE IN LIABILITIES
CREDIT MARKET INSTRUMENTS
MORTGAGES
HOME MORTGAGES
MULTI-FAMILY
COMMERCIAL
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/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
14
15
16
17
19
20
21
22
23
24
25
26
27
5 FEBRUARY 1975
NONFINANCIAL CORPORATE BUSINESS
NONFINANCIAL CORPORATE BUSINESS
5
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
UNADJUSTED QUARTERLY FLOWS
1974
I
1972
| III
1974
IV
|
1
I
II
III
II
III
NONFINANCIAL CORPORA'
8.234
5.382
5.196
568
-1.546
15.822
9.244
6.066
5.728
473
-1.579
16.158
22.623
9.665
5.412
7.546
745
-4.827
16.455
19.919
25.967
11.118
5.533
9.316
844
-5.515
16.803
21.448
23.141
9.804
5.798
7.539
942
-3.861
16.960
21.580
9 70.792 68.391 16.011
10 121.509 125.820 25.438
11 108.628 115.720 23.906
12 103.319 112.384 21.700
13
-539
-546
916
1.290
14
5.848
3.882
15 12.881 10.100
1.532
12.051
27.448
24.649
23.629
-159
1.179
2.799
19.378
26.549
22.571
22.608
-981
944
3.978
18.756
30.972
29.107
26.519
530
2.058
1.865
17.084
29.099
28.291
25.898
17
12.397
-7.171 -12.216 -12.015
9.714 12.798
9.950
40.528 45.416
23.638 30.375
31.033 34.641
3.678
9.800
-17.579 -35.513
67.464 72.517
40.888
18
19
-270
1.354
-1.813
-137
5.241
23
24
2.574
20
21
22
47.326
7.222
1.291
-70
510
6.577
1.189
-414
250
616
4.641 -1.118
-2.177
-745
1.140
27.720
6.329
4.915
888
1.505
808
9.941
6.895
6.632
1.147
-3.376
17.246
24.617
10.251
6.677
7.689
2.955
-7.807
17.518
20.355
28.960 30.830
12.098 12.634
7.901
7.707
8.961 10.489
2.776
2.918
-8.956 -1 2 .2 0 2
17.898 18.330
20.679 19.535
26.025
10.433
8.090
7.502
1.151
-6.548
18.771
20.876
15.574
34.889
28.659
28.294
-976
1.341
6.230
20.734
29.037
24.161
25.205
-1.641
597
4.876
17.944
33.865
32.168
29.414
837
1.917
1.697
14.738 GROSS INVESTMENT
33.483 CAPITAL EXPENDITURES
29.565
FIXED INVESTMENT
PLANT ♦ EQUIPMENT
29.919
-971
HOME CONSTRUCTION
617
MULTI-FAMILY RESIDENTIAL
3.918
CHANGE IN INVENTORIES
1.844
250
72
322
2.908
293
-35
-442
625
3.136
-669
1.459
192
1.174
-1.842
-375
654
1.656
-3.250
971
-637
1.066
261
4.857
-679
-258
-882
457
-1.152
4.183
3.836
2.061
1.349
423
742
7.290
1.858
669
783
401
198
7.545
748
313
36
393
5.062
1.410
606
400
399
-1.799
10.123
2.049
1.245
400
401
3
2.007
24.080
7.852
3.649
2.568
1.616
19
1.597
17
2.432
726
1.198
504
4
32
33
34
35
91.605 104.755
67.151 74.747
7.420
3.494
59.731 71.253
16.649
12.107
2.596
9.511
27.794
16.434
2.640
13.794
16.885
16.241
1.751
14.490
25.014
20.627
2.169
18.458
21.965
15.311
1.287
14.024
27.741
14.972
2.213
12.759
23.169
18.130
1.555
16.575
36
37
38
39
40
41
1.796
9.159
16.125
-432
2.482
14.075
1.648
19.044
10.788
-436
2.247
8.977
173
3.037
4.667
733
660
3.274
168
2.563
4.547
-127
1.052
3.622
321
1.452
2.476
-78 5
503
2.758
535
3.047
5.028
424
848
3.756
489
2.657
5.364
710
716
3.938
451
2.003
3.257
-781
415
3.623
42
43
44
45
30.629
-176
-123
1.996
325
27.543
5.319
1.523
4.325
1.063
1.848
-596
24
306
52
6.916
-1.156
18
582
156
11.036
-1.685
964
148
9.066
141
-19
617
43
5.388
110
125
-146
37
47
48
49
2.323
19.594
2.537
4.660
22.440
2.908
781
3.603
158
974
10.162
224
2.717
-2.424
351
-2.698
6.497
588
1.409
4.359
50
13.804
13.054
4.029
8.729
541
2.692
4.496
51
52
4.486
38.103
5.280
41.143
2.419
6.904
-5.305
7.099
6.607
7.622
793
14.956
3.186
7.668
-2 0 0
355
4.493
-1.370
1.653
-958
531
2.677
1.960
25
26
27
28
29
30
31
6 .0 2 2
-222
886
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
-8.303 -15.921 -14.460 -18.745 NET FINANCIAL INVESTMENT
16
14.866 16.531 10.148
5.781
NET ACQ. OF FINANCIAL ASSETS 17
2.847
-2.079
3.465
-500
250
385
1.326
1.100
14.975
29.435
29.826
27.846
1.229
751
-391
PROFITS BEFORE TAX
— PROFITS TAX ACCRUALS
- NET DIVIDENDS PAID
= UNDISTRIBUTED PROFITS
♦ FOREIGN BRANCH PROFITS
INV. VALUATION ADJUSTMENT
+ CAPITAL CONSUMPTION ALLOW.
= GROSS INTERNAL FUNDS
3.654
-1.394
3.991
424
-1 1
2.320
-1.676
866
10.390
1.621
1.420
-2 0 0
397
4
1.651
845
718
-683
35
-198
934
2.339
3.210
215
2.406
61
-158
-3.395
373
6.367
1.757
1.750
-400
401
1.700
840
902
500
0
18
19
LIQUID ASSETS
DEMAND DEP. «■ CURRENCY
TIME DEPOSITS
U.S. GOVT. SECURITIES
S. + L. OBLIGATIONS
COMMERCIAL PAPER
SECURITY R.P.*S
20
21
22
CONSUMER CREDIT
TRADE CREDIT
MISCELLANEOUS ASSETS
FOREIGN DIR. INVEST. 11)
FOREIGN CURRENCIES
INSURANCE RECEIVABLES
EQUITY IN SPONSORED AGS.
25
26
27
28
29
30
31
23
24
6
398
4
32.452
25.946
1.244
24.702
24.608
16.863
-5
16.868
24.526
13.808
700
13.108
411
3.705
1.612
-1.313
374
2.551
424
5.386
4.833
670
3.497
331
4.192
3.079
984
604
1.491
482
5.761
1.264
-777
603
1.438
TAX-EXEMPT BONDS (2)
CORPORATE BONDS Cl)
MORTGAGES
HOME MORTGAGES
MULTI-FAMILY
COMMERCIAL
36
37
38
39
40
41
5.139
1.258
-7
561
97
6.604
2.552
152
1.625
-86
12.694
718
275
355
17
4.490
2.691
453
1.593
39
3.755
-642
643
752
1.093
BANK LOANS N.E.C.
COMMERCIAL PAPER
ACCEPTANCES
FINANCE COMPANY LOANS
U.S. GOVERNMENT LOANS
42
43
44
45
46
895
11.162
712
2.358
1.400
1.281
-2.060
6.889
1.677
3.174
4.621
-50
1.188
9.530
PROFIT TAXES PAYABLE
TRADE DEBT
MISCELLANEOUS LIABILITIES
47
48
49
6.075
-379
2.735
4.560
-6.100
7.857
8.723
8.566
3.501
15.42?
1.746
8.712
666
0
NET INCREASE IN LIABILITIES
NET FUNDS RAISED IN MKTS.
NET NEW EQUITY ISSUES
DEBT INSTRUMENTS
32
33
34
35
6.138 DISCREPANCY
-8.690 MEMO: NET TRADE CREDIT
8.443 PROFITS TAX PAYMENTS
51
52
PER CENT RATIOS:
53 42.576 41.125 43.769 43.939 42.722 42.815 42.366 42.377 41.641 41.774 40.979 40.088 EFFECTIVE TAX RATE
53
54 143.634 154.484 126.936 132.088 133.284 144.404 134.842 161.157 142.652 163.765 150.678 160.389 CAPITAL OUTLAYS/INTERNAL FUNDS 54
55 49.157 56.630 37.388 50.255 54.578 59.595 48.194 36.570 57.082 72.942 57.305 39.148 CR. MKT. BORROWING/CAP. EXP.
55
(1) FOREIGN INVESTMENT EXCLUDES AMOUNTS FINANCED BY BOND
ISSUES ABROAD, AND BOND ISSUES OUTSIDE THE U.S. ARE
EXCLUDED FROM FINANCIAL SOURCES OF FUNDS ABOVE.
(2) INDUSTRIAL POLLUTION CONTROL REVENUE BONDS. THESE
ARE FORMALLY ISSUED BY STATE AND LOCAL GOVERNMENT
AUTHORITIES, BUT THEY FINANCE PRIVATE INVESTMENT
AND ARE SECURED IN INTEREST AND PRINCIPAL BY THE
INDUSTRIAL USER OF THE FUNDS.
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
5 FEBRUARY 1975
GOVERNMENTS
GOVERNMENTS
6
6^
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1974
UNADJUSTED QUARTERLY FLOWS
I
1972
| III
1973
IV
|
II
1974
III
II
III
STATE AND LOCAL GOVERNMENTS - GENERAL FUNDS
1
2
3
4
193.527 207.665
141.295 151.092
11.728 12.831
40.504 43.742
40.977
29.993
2.687
8.297
184.371 205.993 42.565
169.816 192.403 39.030
3.535
14.555 13.590
9.156
1.672 -1.588
9.415 11.819
1.752
-259 -10.147 -3.340
11
12
50.926 45.625 48.822 45.301 53.779 48.156 52.311 48.920 58.278 TOTAL RECEIPTS, NIA BASIS
36.745 32.946 35.339 32.480 40.530 34.797 37.833 34.976 43.486
TAX RECEIPTS
2.747
2.817
2.903
2.973
3.035
3.102
3.1723.243
3.314
SOCIAL INSURANCE RECEIPTS
11.434
9.862 10.580
9.848 10.214 10.257 11.306 10.701 11.478
GRANTS IN AID RECEIVED
42.766
39.188
3.578
8.160
2.119
6.041
43.094
39.495
3.599
2.531
2.456
75
45.836 47.486
42.205 43.850
3.631
3.636
2.986 -2.185
2.479
2.419
507 -4.604
47.955 48.191 51.267 53.201 53.334 TOTAL EXPENDITURES, NIA BASIS
44.266 45.037 47.966 49.774 49.626
PURCH. OF GOODS + SERVICES
3.689
3.154
3.301
3.427
3.708
NET INTEREST ♦ TRANSFERS
5.824
-35
1.044 -4.281
4.944 NET SURPLUS, NIA BASIS
2.061
2.090
2.919
3.254
3.556 - RETIREMENT CREDIT TO HH
3.763 -2.125 -1.875 -7.535
1.388 = GROSS SAVING
-5.395
7.949
13
-312
14 7.224
-6.961
9.782
548
4.726
-2.892
917
-535
290
15
16
17
18
439
206
1.179
-973
3.895
3.737
2.602
1.135
19
235
158
20
21
598
613
97
139
0
0
155
147
145
151
153
151
155
154
13.344
12.258
11.913
-248
12.161
16.743
15.814
15.310
2.867
12.443
3.809
3.635
3.509
-68
3.577
3.290
3.083
2.828
-600
3.428
2.815
2.570
2.403
-71
2.474
2.754
2.468
2.708
-518
3.226
4.226
3.934
3.498
268
3.230
3.549
3.286
3.304
73
3.231
3.909
3.669
3.601
148
3.453
4.645
4.423
4.583
710
3.873
3.992
3.746
3.596
1.602
1.994
4.197
3.976
3.530
407
3.123
345
1.086
504
929
126
174
255
207
167
245
-240
286
436
292
-18
263
68
-160
150
246
446
240
3.327
1.792
2.647
-1.542
2.239
-271
22
23
24
25
-2
0
1
2
3
4
5
6
7
8
9
10
2.714 -1.717
6.004
1.098
1.348 -1.553
3.761
2.988
-2.140 -3.062
614
1.164
916 -1.659
585
2.003
1.524 -1.854
5.073
2.055
1.984 -1.472
1.648
1.576
-2.490 -4.138
2.155
-146
2.218 -1.258
1.750
-240
1.521 NET FINANCIAL INVESTMENT
5.718
NET ACQ. OF FINANCIAL ASSETS
1.060
DEMAND DEP. + CURRENCY
1.640
TIME DEPOSITS
13
14
1.065
688
825
-137
756
590
1.458
-868
-492
-607
545
-1.152
-1.034
-1.186
-643
-543
675
738
466
272
1.290
1.261
811
450
1.798
1.761
1.295
466
-1.964
-2.009
-2.593
584
2.864
2.841
2.798
43
CREDIT MARKET INSTRUMENTS
U.S. GOVT. SECURITIES
DIRECT
U.S. GOVT. AGENCY SEC.
15
16
17
18
375
164
115
152
-62
30
38
45
S. + L. OBLIGATIONS
HOME MORTGAGES
TAXES RECEIVABLE
20
21
2
5.136 ,-3.186
2
-1
-1
-1
0
1.197
1.144
1 .1 0 2
42
53
0
22
1
11
12
19
22
NET INCREASE IN LIABILITIES
CREDIT MARKET BORROWING
S. + L. OBLIGATIONS
SHORT-TERM
OTHER
23
24
25
26
U.S. GOVERNMENT LOANS
TRADE DEBT
27
28
615 -3.397
-133 DISCREPANCY
EMPLOYEE RETIREMENT FUNDS ARE IN INSURANCE SECTOR.
29
222
221
U.S. GOVERNMENT
1 258.517 291.053
2 114.138 131.240
3 43.716 49.122
4 21.160 22.013
5 79.503 88.678
57.193
28.576
9.084
5.001
14.532
52.764
25.436
10.056
5.195
12.077
63.323
25.332
10.315
5.132
22.544
67.149
27.485
11.712
5.396
22.556
66.593
32.186
10.727
5.253
18.427
61.452
29.135
10.962
5.379
15.976
71.189
29.425
11.233
5.288
25.243
75.437
32.135
12.845
5.477
24.980
76.802
36.987
13.507
5.600
20.708
6 264.144 298.629
60.334 64.675
24.903 26.835
32.076 34.336
3.355
3.504
-3.141 -11.911
848
287
-3.428 -12.759
64.246
26.272
34.226
3.748
-923
-165
-758
66.150
27.262
35.042
3.846
999
2.332
-1.333
66.173 67.575
25.214 27.810
36.750 35.306
4.209
4.459
420 -6.123
-287
245
707 -6.368
70.052
27.463
38.047
4.542
1.137
-291
1.428
74.241
29.347
40.380
4.514
1.196
3.816
-2.620
74.856 79.480 TOTAL EXPENDITURES, NIA BASIS
28.528 31.098
GOODS ♦ SERVICES
41.437 43.510
TRANSFERS, ETC.
4.891
4.872
NET INTEREST
1.946 -11.855 NET SURPLUS, NIA BASIS
-769
194 - INSURANCE CREDITS TO HH
2.715 -12.049 = GROSS SAVING
7 106.558
8 141.324
9 16.262
10 -5.627
2.125
11
12 -7.752
116.436
163.374
18.819
-7.576
2.950
-10.526
13 -7.671
14 4.343
15
-19
16 -1.847
17
-167
18
2.982
19
-2
20 -1.186
21
603
3.567
22
2.163
23
274
24
25
957
228
-9.892 -3.952 -11.314 -3.525
-821
7.810
1.996
3.354
5.326 -4.572 -1.171
1.354
-2 2 1
-141
-30
-4
0
-4.571
-629
1.423
1.533
164 -5.195
71
118
-4
164
-40
-140
5.922
1.390
468
904
-507
1.982
-6
0
5
5
-7
-2
530
-59
-266
-536
-815
260
128
75
125
39
514
1.331
4.067
654
1.310
276
1 .2 1 0
1.321
3.899
1.478
2.184
2.538 -4.623
2.304
993
-173
-660
110
330
-95
33
84
107
108
142
-27
26
27
28
29
30
31
32
33
34
12.014
422
9.714
2.700
5.039
1.975
2.125
116
-363
17.702
427
12.968
3.034
10.072
-138
2.950
486
871
5.738
772
3.824
1.142
287
107
-295
14.668
96
12.937
879
10.731
1.327
848
459
328
8.853
891
7.310
652
-165
-158
233
-3.751
193
-5.994
911
-6.852
-53
2.332
-336
54
-1.399
64
-457
441
-1.560
662
-287
-831
8.313
77
7.312
457
6.141
714
245
498
181
-81
35
36 41.553
-634
45.223
524
7.606
-1.445
7.872
2.767
7.777
-512
16.335
479
8.423
-2.815
9.018
5.948
111
8.851
88
112
-3.553
4.760
15
1.651
-151
603
2
-95
-75
771
1.944
-71
769
-29
-1.434
1.398 -2.061
214
270
-1.846
1.314
151
-145
391
707
2
-144
-143
676
-1
67.625 TOTAL RECEIPTS, NIA BASIS
32.693
PERSONAL TAXES
11.537
CORP. PROFITS TAX ACCRUALS
5.648
INDIRECT TAXES
17.747
SOCIAL INSURANCE RECEIPTS
2.223 -10.652 NET FINANCIAL INVESTMENT
5.570
2.923
NET ACQ. OF FINANCIAL ASSETS
845
25
GOLD, SDR'S ♦ OFF FGN EXCH
-1.134 -2.905
DEMAND DEPOSITS + CURRENCY
75
-1 0
TIME DEPOSITS
1.302
3.522
CREDIT MARKET INSTRUMENTS
-8
1
SPONSORED AGENCY ISSUES
246
361
HOME MORTGAGES
434
888
OTHER MORTGAGES
2.281
621
OTHER LOANS
4.103
1.786
TAXES RECEIVABLE
334
225
TRADE CREDIT
45
280
MISCELLANEOUS
209
178
67
152
489
-4.091
225
-361
2.832
82
3.389
780
2.183
426
-291
-306
-42
-2.052
97
-6.187
822
-7.197
188
3.816
177
45
3.347
103
4.497
611
4.260
-374
-769
152
-636
13.575
145
11.269
821
10.826
-378
194
463
1.504
2.862 -2.591
9. 132 16.936
492
9.404
-1.397 DISCREPANCY
9.751 MEMO: CORP. TAX RECEIPTS, NET
2 .1 0 1
NET INCREASE IN LIABILITIES
TREASURY CURR. ♦ SDR CTFS.
CREDIT MARKET INSTRUMENTS
SAVINGS BONDS
DIRECT EXCL. SVGS. BONDS
AGENCY ISSUES ♦ MTGS.
LIFE + RETIREMENT RESERVES
TRADE DEBT
MISCELLANEOUS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
FEDERALLY SPONSORED CREDIT AGENCIES
1
227
316
20
30
42
53
63
69
73
77
81
2
22.019
98
20.255
1.349
8.393
1.964
8.549
279
1.113
5
1.136
-985
1.214
316
591
109
-179
661
-28
1.704
2.034
-932
1.342
358
1.266
128
-105
1.243
-332
3.042
35
3.113
1.389
484
1.342
597
304
441
-106
6.181
-24
5.859
230
1.989
527
3.113
-170
558
2.725
346
7.568
4
6.987
468
1 .6 6 6
23.493
56
24.018
-292
12.234
2.771
9.305
998
1.650
6.657
-581
3.153
577
5.228
83
4.296
753
2.347
479
717
-161
29
849
849
2.907
-26
3.002
-787
2.489
564
736
541
347
-152
-69
6.487
-14
6.915
-242
3.171
715
3.271
-312
936
2.647
-414
9.171
82
8.654
309
3.779
700
3.866
286
450
3.130
435
4.928 NET ACQ. OF FINANCIAL ASSETS
2
DEMAND DEPOSITS ♦ CURRENCY
14
3
5.447
4
CREDIT MARKET INSTRUMENTS
428
U.S. GOVERNMENT SECURITIES 5
2.795
RESIDENTIAL MORTGAGES (1)
6
792
FARM MORTGAGES
7
1.432
8
OTHER LOANS
TO COOPS CBC)
9
483
-83
TO FARMERS (FICB)
10
1.032
TO S+L *S (FHLB)
11
-533
MISCELLANEOUS ASSETS
12
13 21.758
14 19.589
15 19.589
16
0
2.169
17
18
-34
23.090
21.641
20.946
695
1.449
-87
1.052
1.083
1.083
1.700
1.592
1.592
2.945
2.684
2.684
6.125
5.874
5.874
7.490
7.043
7.043
5.198
3.988
3.988
2.811
1.796
1.796
6.373
6.447
6.447
9.002
8.942
8.832
0
0
1 .2 1 0
4.904 NET INCREASE IN LIABILITIES
4.456
CREDIT MARKET INSTRUMENTS
3.871
SPONS. AGENCY ISSUES Cl)
585
U.S. GOVERNMENT LOANS
448
MISCELLANEOUS LIABILITIES
61 DISCREPANCY
3
4
5
6
7
8
9
10
11
12
1 .1 0 2
7.168
0
-31
-41
IV/74 FIGURES ARE TENTATIVE
2
0
108
26
-1 0 2
0
261
-55
0
251
-3
2.668
474
3.377
13
211
447
-15
39
0
1.015
-23
0
-74
-37
110
60
-88
85 CURRENT SURPLUS
Cl) ALL GNMA-GUARANTEED SECURITIES BACKED BY MORTGAGE POOLS ARE INCLUDED
IN AGENCY SECURITIES. THE MORTGAGE POOLS ARE INCLUDED IN RESIDENTIAL
MORTGAGES.
ESTIMATES BASED ON INCOMPLETE INFORMATION.
1
13
14
15
16
17
18
5 FEBRUARY 1975
BANKING SYSTEM
BANKING SYSTEM
7
7
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
UNADJUSTED QUARTERLY FLOWS
I
1972
I III
1973
II
1974
III
II
III
MONETARY AUTHORITIES
132
169
26
25
27
32
37
36
39
42
44
4.820
80
496
-949
-957
6.150
5.219
931
- 1 073
2.821
75
117
232
1.139
1.258
-306
-4
57
-877
775
-257
-319
62
5.101
1.278
-78
4.306
13
64
988
2.75 2
489
498
-9
457
46
2.115
-190
109
-1.852
47
4.001
3.963
38
964
-13
109
-74
-258
9
7.842
-190
403
-875
-723
9.227
9.265
-38
151
75
1 .177
3.610
3.436
174
5.134
159
108
1 .424
1 .982
1 .461
1 .275
186
10
0
0
0
0
0
0
0
11
12
4.651
-1.235
1.174
-1.099
-790
2.041
2.796
-1.045
-174
2.088
1.226
234
932
-2.055
-1.231
4.269
6.144
13
7.710
1.413
2.040
14
15
16
17
18
19
3.374
-498
-69
3.941
123
760
6.694
466
223
6.005
78
-2.060
-2 .0 0 2
-486
-69
-1.447
-91
-257
4.045
-9
140
3.914
126
-156
255
1.578
73
-1.396
49
324
4.273
630
-5
3.648
9
-64
2
3
4
5
6
7
8
99
130
443
712
2.457
2.444
-13
1.212
1 .2 0 0
2 .0 1 1
-4.177
-2.911
63
-1.329
46
245
0
121
63
-3.264
3.537
3.526
11
0
88
44 CURRENT SURPLUS
-5.109 NET ACQ. OF FINANCIAL ASSETS
2
-163
GOLD ♦ FOREIGN EXCHANGE
3
180
TREASURY CURR. ♦ SDR CTFS.
4
-1.571
F.R. FLOAT
5
-4.891
F.R. LOANS TO DOMESTIC BANKS 6
1.336
CREDIT MARKET INSTRUMENTS
7
827
U.S. GOVERNMENT SECURITIES 8
509
ACCEPTANCES
9
0
BANK LOANS N.E.C.
10
0
0
0
421
-3.902
1.026
-345
1.350
-976
5.059
1.676
-1.352
5.090
3.170
2.152
3.023
205
-451
-427
119
-143
36
-304
4.594
761
26
3.807
39
102
-282
472
259
-1.013
24
26
-1.884
-2 0 0
3.018
19
255
-5.153 NET INCREASE IN LIABILITIES
-7.431
MEMBER BANK RESERVES
1.350
VAULT CASH OF COML. BANKS
2.833
-340
-181
3.354
-2 1
DEMAND DEPOSITS + CURRENCY
DUE TO U.S. GOVERNMENT
DUE TO REST OF THE WORLD
CURRENCY OUTSIDE BANKS
TAXES PAYABLE
MISCELLANEOUS LIABILITIES
11
12
13
14
15
16
17
18
19
COMMERCIAL BANKING (1)
4.395
3.039
4.623
3.798
901
661
100.247
286
82.260
86.600
-1.273
-8.833
7.560
73.551
-453
58.158
61.807
1.422
-2.741
4.163
18.601
53
14.493
14.191
1.314
1.081
233
13
14
25.918
5.700
464
10.994
8.760
15.929
4.150
253
5.667
5.859
7.152
1.968
250
2.864
2.070
5.743
952
525
2.351
1.915
4.825
660
-69
2.123
2.111
15
16
17
18
61.955
10.608
52.115
-768
44.456
2.762
40.424
1.270
5.725
3.017
3.276
-568
19.438
2.909
15.079
1.450
20
56
-3.396
-3.649
302
21
22
3.453
6.009
7.239
-61
881
15.026
1.251
802
23
2 .0 0 2
24
25
26
27
97.332
12.588
- 1 .0 1 0
13.598
71.185
-653
-5.295
4.642
28
29
30
31
50.934
2 0 .0 1 2
32
33
34
35
36
37
1.216
10.627
-875
-723
6.009
85
38
39
40
41
10
11
12
927
680
1.057
717
1.091
729
1.114
786
1.133
807
1.173
937
1.154
950
1.173
949
1.123
962
32.786 20.262 27.218
7
6
5
37.037 10.808 25.660
33.269 15.068 26.001
8.088 -5.839 -1.085
5.955 -5.968 -3.430
129
2.133
2.345
23.204
138
16.110
17.553
13.491
-119
5.576
9.607
637
-224
861
39.701
-2.701
2.580
29.563
137
30.682
27.978
5.772
3.266
2.506
6.726
-55
5.427
6.671
41
-583
624
13.633
-159
17.527
17.185
5.500
4.172
1.328
3.054
2.512
6.839
863
302
3.303
2.371
7.664
3.052
332
2.514
1.766
5.081
2.132
135
1.376
1.438
2.594
2.344
1.118
-1.545
40
1.286
1.337
1.950
742
57
411
740
OTHER SECURITIES + MTGS.
S. + L. OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
16.082
1.822
15.190
-930
20.496
4.057
16.506
-67
10.835
3.007
8.297
-469
14.542
1.722
25.320
2.499
22.439
382
5.512
1 .679
3.934
698
3.889
-330
4.647
-428
9.735
-1.086
9.404
1.417
OTHER CR. EXCL. SECURITY
CONSUMER CREDIT
BANK LOANS N.E.C.
OPEN-MARKET PAPER
3.768
56
-4.316
0
-341
0
0
0
-1.443
0
0
2.704
-4.031
0
1.284
-1.244
342
-1.219
-3.566
527
1.460
4.125
3.864
-3.286
2.905
1.933
8.155
-3.039
1.840
-2.876
2.018
-398
374
1.524
6.136
324
6.470
3.399
5.322
—4.974
1.006
-6.081
-2.139
4.485
18.774
1.493
387
1.106
31.752 20.337
21.417 -11.203
1.405
515
2 0 .0 1 2 -11.718
25.480
6.606
-956
7.562
23.162
-4.643
—2.22 4
-2.419
28.353 13.352
21.828 -14.663
1.655 -1.255
20.173 -13.408
37.956
7.664
-243
7.907
7.209
-7.680
-1.097
-6.583
14.026
-2.700
16.726
55.422
28.618
26.616
188
10.656
5.377
5.553
-274
11.140
3.315
8.186
-361
19.576
10.852
8.501
223
11.214
4.249
6.870
95
14.786
8.682
5.976
128
5.358
-3.771
8.969
160
14.630
3.950
10.662
18
18.322
11.964
6.338
11.706
3.797
7.843
20
10.764
8.907
1.773
84
1 .0 0 0
4.789
-949
-957
881
125
165
1.623
443
712
802
130
422
-1.056
232
1.139
-3.566
460
1.063
-74
-258
2.905
-290
706
3.172
988
2.752
-3.039
0
500
5.320
-1.852
47
4.125
275
-450
1.072
63
-3.264
2.018
100
250
1.196
75
1.177
6.470
-300
250
3.213
1.424
1.982
-4.974
165
250
-2.632
-1.571
-4.891
-2.139
0
250
3.012
-877
775
1.524
260
17.471
1.063
16.408
11.527
3.245
8.282
2.750
998
1.752
2.024
-814
2.838
3.549
-277
3.826
3.854
693
3.161
8.340
460
7.880
1.728
187
1.541
8.441
2.681
5.760
3.102
148
2.954
2.065
585
1.480
-2.081
-169
-1.912
-1.559
-1.541
413
-787
-1.376
286
-884
97
-1.541
707
30.316
606
6.590
1.125
-1 0 1
-1 2 1
1 2 .1 2 2
-1 2 0
29.628
28.344
-4.756
-6.106
1.350
7.780
2.821
21
-1 0 1
12 .6 6 8
66
0
DEMAND DEPOSITS ♦ CURRENCY
TOTAL BANK CREDIT
CREDIT MARKET INSTRUMENTS
U.S. GOVT. SECURITIES
DIRECT
AGENCY ISSUES
CORPORATE EQUITIES
SECURITY CREDIT
19
20
VAULT CASH ♦ MEM. BANK RES. 21
OTHER INTERBANK CLAIMS
22
MISCELLANEOUS ASSETS
23
ET INCREASE IN LIABILITIES
DEMAND DEPOSITS, NET
U.S. GOVERNMENT
OTHER
24
25
26
27
TIME DEPOSITS
LARGE NEGOTIABLE CD'S
OTHER AT COMMERCIAL BANKS
AT FOREIGN BANKING AGS.
28
29
30
31
CORPORATE EQUITIES
CREDIT MARKET DEBT
F.R. FLOAT
BORROWING AT F.R. BANKS
OTHER INTERBANK CLAIMS
TAXES PAYABLE
32
33
34
35
36
37
MISCELLANEOUS LIABILITIES
LIAB. TO FGN. AFFILIATES
OTHER
38
39
40
-804
804 DISCREPANCY
(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/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
15
16
17
18
41
5 FEBRUARY 1975
COMMERCIAL BANKING SUBSECTORS
COMMERCIAL BANKING SUBSECTORS
8
8
SUBSECTOR STATEMENTS FOR COMPONENT GROUPS IN COMMERCIAL BANKING
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1974
UNADJUSTED QUARTERLY FLOWS
I
1972
| III
I
|
IV
1973
I
II
III
I
|
IV
1974
I
II
III
1.154
950
1.173
949
1.123
962
CURRENT SURPLUS
PLANT ♦ EQUIPMENT
1
2
9.838 30.503
4.669 26.965
8.392 25.671
693 -4.749
-65 -6.098
758
1.349
12.135
5.035
6.299
162
-512
674
12.553
15.009
14.664
5.494
4.175
1.319
NET ACQ. OF FINANCIAL ASSETS
TOTAL BANK CREDIT
CREDIT MARKET INSTRUMENTS
U.S. GOVT. SECURITIES
DIRECT
AGENCY ISSUES
3
4
5
969
-1.642
40
1.288
1.283
1.811
671
40
440
660
OTHER SECURITIES + MTGS.
S. + L. OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
9
10
11
12
13
5.168
1.679
3.590
-1.264
7.359
-1.086
7.028
1.417
345
OTHER CR. EXCL. SECURITY 14
CONSUMER CREDIT
BANK LOANS N.E.C.
OPEN-MARKET PAPER
SECURITY CREDIT
15
16
17
18
3.595
2.583
324
5.322
2.259 -1.727
-5.844
-6.081
237
INTERBANK CLAIMS
VAULT CASH ♦ MEM. BK. RES.
DEP. AT FGN. BANKING AGS.
19
20
21
COMMERCIAL BANKS
1.091
729
1.114
786
1.133
807
34.164 14.874 23.342
36.384
9.197 24.997
32.703 13.178 25.178
7.864 -5.783
-971
5.938 -5.848 -3.303
2.332
65
1.926
23.436
14.329
15.548
-204
-2.797
2.593
26.959
29.412
26.991
5.667
3.197
2.470
4.829
657
6.598
-94
3.095
2.476
7.533
3.023
291
2.465
1.754
4.896
2.018
-6 6
6.712
810
288
3.255
2.359
120
22
1.393
1.365
2.612
2.270
9.040
19.551
4.057
3.007
15.561
6.502
-469
-67
-181 -1.219
13.791
1.722
11.371
698
2.421
2.803
-330
3.561
-428
-3.723
22.809
2.499
19.928
382
1.294
7.073
3.242 -2.039
8.155
1.460 -3.286
1.247 -1.082
1.782
-2.497
-2.876
379
924
374
550
44
4.395
3.039
4.623
3.798
901
661
3 88.611
4 77.935
5 80.895
6 -1.291
7 -8.751
7.460
8
65.029
51.678
55.026
1.600
-2.500
4.100
16.259
13.375
13.073
1.065
832
233
9 25.672
5.611
10
419
11
12 10.980
13
8.662
15.287
3.754
5.733
5.578
7.093
1.987
249
2.859
1.998
5.481
949
219
2.353
1.960
14 56.514 38.139
2.762
15 10.608
16 46.674 34.107
1.270
-768
17
18 -2.960 -3.348
4.915
3.017
2.466
-568
302
19.358
2.909
14.999
1.450
3.681
14.132
1.822
13.240
-930
-3.981
1.417
1.251
166
-2.433
-1.219
-1.214
1
2
222
927
680
1.057
717
1 .1 2 1
2.165
2.073
1.173
937
7.611
2.707
-1 0 1
6
7
8
20
21
5.779
3.453
2.326
1.258
-61
1.319
22
4.897
12.093
1.467
4.245
955
3.505
3.388
MISCELLANEOUS ASSETS
22
23 85.696 62.663
24 12.994 -2.642
25 -1 .0 1 0 -5.295
2.653
26 14.004
16.432
1.756
387
1.369
33.130 14.949
19.174 -10.952
515
1.405
17.769 -11.467
21.604 23.394
6.025 -4.162
-956 -2.224
6.981 -1.938
25.749
9.699
22.083 -16.491
1.655 -1.255
20.428 -15.236
28.758
1.908
-243
2.151
12.618
-2.533
-1.097
-1.436
11.588
14.474
-2.700
17.174
NET INCREASE IN LIABILITIES
DEMAND DEPOSITS, NET
U.S. GOVERNMENT
OTHER
23
24
25
26
55.234
28.618
26.616
10.930
5.377
5.553
11.501
3.315
8.186
11.119
4.249
6.870
14.658
8.682
5.976
5.198
-3.771
8.969
14.612
3.950
10.662
18.302
11.964
6.338
10.680
8.907
1.773
11.640
3.797
7.843
TIME DEPOSITS
LARGE NEGOTIABLE CD'S
OTHER
27
28
29
1 .0 0 0
165
137
-621
130
422
367
-235
460
706
-19
1.774
-450
195
250
65
2.128
260
250
-1.507
-300
250
790
1.109
165
250
250
-5.045
0
CORPORATE EQUITIES
CORPORATE BONDS
SECURITY R.P.'S
PROFIT TAX LIABILITIES
30
31
32
33
159
1.424
1.982
-3.882
-18
-8.838
-1.571
-4.891
-50
655
-2
0
-2.334
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
CTHER
41
42
43
DISCREPANCY
44
19
27
28
29
50.328
2 0 .0 12
30.316
1.216
213
19.353
10.852
8.501
500
30
31
32
33
3.291
85
34
35
36
37
38
39
40
2.085 -2.344
-949
-875
-957
-723
2.570
1.328
137
92
-185
-410
1.386 -1.673
1.791
443
712
972
0
-981
232
1.139
-1.992
339
-140
-196
-111
-588
538
-1.852
47
1.084
71
531
657
15.689
350
15.339
13.390
2.247
11.143
2.144
588
1.556
2.882
-623
3.505
2.719
-279
2.998
44 -1.559
-1.541
413
-767
415
41
42
43
8
1.215
-3.315
125
0
384
2.435
-66
-1 0 0
2.584
275
-1.087
-290
2.034
100
20
0
110
1.326
1.783 -1.562
988
63
-74
2.752 -3.264
-258
1.621 -1.567
1.432
24
-18
60
-18
-339
-584
394
134
201
-92
1.401
5.463
75
1.177
5.606
91
-91
-1.395
4.151
394
3.757
8.554
205
8.349
265
30
235
8.003
1.197
6.806
4.532
415
4.117
1.998
-444
2.442
-1.143
1.079
-2.222
-1.376
286
-884
97 -1.541
707
-804
872
-877
775
-346
11
8
DOMESTIC AFFILIATES OF COMMERCIAL BANKS
1
2
3
4
5
6
1.292
1.702
-410
731
916
-185
-172
-32
-140
1.292
2.244
-952
731
2.437
-1.706
-172
397
-569
223
334
-1 1 1
223
269
-46
20
1.094
563
531
359
-339
20
1.094
819
275
827
-807
533
1.117
-584
-355
-337
-18
512
604
-92
377
468
-91
-145
-143
533
948
-415
-355
-350
-5
512
1.164
-652
377
907
-530
-145
679
-824
-2
-13 NET ACQ. OF FINANCIAL ASSETS
-13
BANK LOANS N.E.C.
LOANS TO AFFILIATE BANKS
0
-13 NET INCREASE IN LIABILITIES
COMMERCIAL PAPER ISSUES
-313
MISCELLANEOUS LIABILITIES
300
1
2
3
4
5
6
EDGE ACT CORPORATIONS AND AGENCIES OF FOREIGN BANKS
2.711
1.187
56
0
0
487
0
0
0
305
-254
1.387
0
0
0
0
0
0
0
0
-160
1.621
-18
394
1.599
-224
-1.567
60
134
-230
283
1.432
24
-308
-346
-196
461
87
-1.992
339
-588
60
56
-335
1.084
71
657
1.311
0
972
201
13
56
0
-436
-301
1.328
2.570
137
92
1.386 -1.673
2.264
2.903
-416
1.401
1.835
14
15
16
17
18
9.871
-406
606
2.326
5.084
7.837
1.989
188
1.319
4.452
2.173
-263
-274
166
1.710
-1.943
2.243
-361
-1.214
-1.457
4.252
-251
223
1.782
1.985
3.982 -1.074
-481
581
128
95
1.247 -1.082
469
1.423
2.711
-255
160
379
1.207
19
2.261
713
1.548
-1 1 1
834 -1.154
-191
410
424
-963
513
1 .2 20
7
8
9
10
11
12
20
21
0
2
55
30
5.401
998
-1.109
0
0
0
11
0
-8
636
299
337
2
511
-108
255
-363
2
41
1.088
157
1.063
-5.346
418
2.043
0
842
6
7.837
5.488
8.865
2.082
17
23
3.182
589
69
24
14
482
-1.943
151
89
9.871
3.894
91
29
35
3.739
4.252
1.408
29
3.982 -1.074
546
753
-29
35
26
1
14
-1 2
586
678
2.173
936
109
-15
1
2
3
4
5
-1
-1 0 0
31
0
0
-1 0
0
20
5.606
91
-1.395
2.491
-3.882
-18
655
-2.539
3.182
1.828
18
550
-345
8.865
5.756
-5.346
-5.147
84
-1.727
635
1.131
1.484
-353
-856
-267
-589
809
1.029
-41
-119
-44
-1 2 0
82
-55
97
0
11
20
2.259
1.6 8 6
-220
1.136 NET ACQ. OF FINANCIAL ASSETS
2.399
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
16
STATE + LOCAL OBLIGATIONS
-23
17
CORPORATE BONDS
2.389
BANK LOANS N.E.C.
OPEN-MARKET PAPER
0
0
-3
-50
8
-2.334
1.116
6
7
8
CORPORATE EQUITIES
SECURITY CREDIT
9
DEM. DEPOSITS AT COML. BANKS 10
TIME DEPOSITS AT COML. BANKS 11
12
LOANS TO BANKS
13
MISCELLANEOUS ASSETS
1.136 NET INCREASE IN LIABILITIES
-448
DEMAND DEP. IN MONEY STOCK
TIME DEPOSITS
66
237
DEPOSITS OF BANKS
LOANS FROM BANKS
2.476
-1.195
-1.248
53
1
2
3
4
5
MISCELLANEOUS LIABILITIES
DUE TO FOREIGN AFFILIATES
OTHER
14
15
16
17
18
19
20
21
BANKS IN U.S. POSSESSIONS
3
4
5
473
286
109
-73
60
-46
-453
377
-180
341
6
10
7
1
-6 6
9
14
98
78
10
473
1
2
8
281
30
-46
IV/74 FIGURES ARE
341
53
214
140
-4
5
72
74
-45
254
42
5
-81
-85
3
5
-42
38
118
341
342
42
1
342
7
81
135
-8
1
-2
-126
-126
6
-82
-85
3
5
-41
36
-50
309
138
135
48
27
248
137
137
49
27
22
-125
90
123
-24
91
0
0
1
0
48
49
12
-18
74
-47
-44
12
36
-26
-17
73
56
309
248
-41
TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
54
40
-43 NET ACQ. OF FINANCIAL ASSETS
-159
DEMAND DEPOSITS + CURRENCY
135
CREDIT MARKET INSTRUMENTS
-10
U.S. GOVERNMENT SECURITIES
94
STATE ♦ LOCAL OBLIGATIONS
0
CORPORATE BONDS
-29
HOME MORTGAGES
80
COMMERCIAL MORTGAGES
-19
MISCELLANEOUS ASSETS
82
-43 NET INCREASE IN DEPOSIT LIAB.
-2 1
66
0
-2
1
2
3
4
5
6
7
8
9
10
5, FEBRUARY 1975
NONBANK FINANCE SUMMARY
9
NONBANK FINANCE SUMMARY
9
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1973
1974
UNADJUSTED QUARTERLY FLOWS
I
1972
1 III
|
IV
1
1973
I
II
f
III
IV
1974
1
I
II
III
IV
PRIVATE NONBANK FINANCIAL INSTITUTIONS - TOTAL
1
2
5.709
1.991
5.483
2.224
1.529
539
915
593
1.2 02
637
1.527
638
1.601
438
1.379
278
1.293
718
1.467
509
1.483
663
3 87.682
4 2.007
5
123
6
-44
77.246
1.776
32.867
1.771
74
321
23.202
-379
60
652
25.313
913
63
17.184
470
21.983
1.003
17.952
-731
22.216
709
15.564
216
259
24.410
208
75
-309
120
0
0
-962
146
0
1.087
0
118
0
-1.244
7
13.390
8 72.243
9
942
3.576
10
11 10.865
12 26.477
13 15.410
14 9.043
15
5.930
5.042
67.442
5.829
297
24.954
13.967
10.482
4.774
7.139
2.388
21.742
1.952
1.017
2.823
8.598
3.991
1.869
1.492
6 .1 0 1
23.548
1.567
1.386
4.789
8.936
5.461
2.605
-1.196
1.830
21.271
2.931
698
1.725
7.394
3.154
1.009
4.360
3.339
20.766
-665
565
3.473
9.213
4.609
2.783
788
1.674
16.281
-1.586
1.261
2.680
6.760
3.965
2.846
355
6.547
13.925
262
1.052
2.987
3.110
3.682
2.405
427
840
14.878
1.698
-15
3.231
3.413
2.950
-62 5
4.226
2.243
18.084
-903
-138
6.395
5.895
3.591
2.312
932
841
16.974
235
6.246
2.717
2.171
2.363
2.240
1.118
17.506
4.032
215
9.082
1.942
1.770
724
-259
16 -4.560
17
658
18
3.865
-1.673
550
3.850
372
345
-411
268
663
-1 .1 2 0
208
680
-1.632
164
1.580
-720
142
299
-1.088
144
1.306
448
141
1.289
-400
138
1.324
-1.696
137
336
-25
134
901
19
75.158
21.988
35.798
1.754
22.632
10.046
6.429
198
32.587
10.560
8.107
406
21.788
12.459
7.618
207
24.609
8.791
6.798
-57
15.468
-59
7.974
368
20.423
6.927
7.121
-922
16.819
11.463
6.687
311
21.799
4.501
9.008
-561
14.912
-1.097
9.784
726
23 20.971 11.793
24
2.327
1.183
25 -1.533 -1.463
26
320
95
27
8.405
6.060
28 11.452
5.918
29
4.284
-739
30
7.168
6.657
3.288
1.341
237
115
1.089
506
-155
661
8.463
1.860
115
2.860
556
5.795
282
-690
110
3.539
2.839
1.596
1.243
128
1.437
638
197
441
8.241
848
444
142
3.316
3.491
766
2.725
2.243
3.950
797
3.153
4.075
641
-1.388
40
1.409
3.373
2.524
849
256
6.295
364
178
-186
552
70
1
239
4.386
-231
1.178
-79 -1.469
2.647
-152
31 -3.444
32
128
33
7.408
-3.147
36
6.936
-134
206
2.599
3.879
52
-4.635
326
2.953
-836
-357
2.029
-1.004
167
2.227
3.031
199
-3.922
273
1.751
34 -1.676
1.171
-788
42
-849
185
-553
-459
-558
20
21
22
82.288
28.118
29.511
-404
0
121
1 .1 2 0
101
10
-8
1.240 CURRENT SURPLUS
334 PHYSICAL INVESTMENT
21.514 NET ACQ. OF FINANCIAL ASSETS
1.582
DEMAND DEPOSITS ♦ CURRENCY
0
TIME DEPOSITS (MSB)
298
S+L SHARES (CREDIT UNION)
1
2
3
4
5
6
CORPORATE SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT 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
21.628 NET INCREASE IN LIABILITIES
7.121
TIME + SAVINGS ACCOUNTS
10.319
INSURANCE + PENSION RESERVES
1.278
CORPORATE EQUITIES (1)
20
21
22
3.365
91
-807
39
1.041
3.001
-129
3.130
1.877
550
-1.0 22
-15
394
1.970
938
1.032
CREDIT MARKET INSTRUMENTS
CORPORATE 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
859
-355
2.052
-404
147
2.391
320
-29
742
SECURITY CREDIT
TAXES PAYABLE
MISCELLANEOUS LIABILITIES
31
32
33
541
168
1.002
1 .0 20 DISCREPANCY
7
8
9
10
11
12
19
34
SAVINGS AND LOAN ASSOCIATIONS
1
1.684
382
397
435
445
29.231 23.741
594
596
27.133 21.356
3
3.606
21.992 14.236
4.920
3.427
218
87
1.504
1.789
9.375
-38
9.950
922
7.162
1.790
76
-537
9.240
500
8.987
484
6.363
10.792
-89
10.584
2.718
6.469
1.389
9.801
27.363 22.320
20.490 15.953
5.962
6.277
13 -1.533 -1.463
14
327
1.083
7.168
15
6.657
16
36
60
17
875
30
8.847
7.344
1.027
237
129
661
15
461
8.900
7.281
1.887
115
529
1.243
-146
2
3
4
5
6
7
8
9
1.780
10
11
12
18
-8 8
263
2 .1 0 0
40
-247
8
297
451
452
431
409
4.143
500
2.928
-33
2.345
577
39
715
8.540
-89
7.714
3.324
3.473
930
-13
915
7.572
228
6.793
-584
5.785
1.479
113
551
3.531
-38
3.514
-791
3.543
681
81
55
3.817
5.168
-529
-1.388
10
8.161
8.168
-662
-186
-324
-152
31
624
7.169
2.978
4.188
552
989
2.647
-14
17
3.168
-237
3.081
-807
758
3.130
25
299
73
28
46
3.938
462
2.976
-690
513
3.153
-280
-342
441
61
1.155
9.313
5.981
3.315
444
146
2.725
-34
51
494
6
849
3
-825
57
-62
-43
-108
125
12
10.295
8.879
449
4.495
221
-38
8.927
4.694
-690 -1.992
7.895
5.283
1.635
1.319
87
84
653
-161
200
101
392 CURRENT SURPLUS
4.098 NET ACQ. OF FINANCIAL ASSETS
495
DEMAND DEPOSITS + CURRENCY
3.335
CREDIT MARKET INSTRUMENTS
1.657
U.S. GOVERNMENT SECURITIES
1.435
HOME MORTGAGES
337
OTHER MORTGAGES
-94
CONSUMER CREDIT
268
MISCELLANEOUS ASSETS
3.822 NET INCREASE IN LIABILITIES
5.044
SAVINGS SHARES
-330
CREDIT MARKET INSTRUMENTS
-1.0 22
MORTGAGE LOANS IN PROCESS
-340
BANK LOANS N.E.C.
1.032
FHLB ADVANCES
18
TAXES PAYABLE
-910
MISCELLANEOUS LIABILITIES
116 DISCREPANCY
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
MUTUAL SAVINGS BANKS
1
566
555
112
117
130
139
146
151
155
142
134
2
5.962
186
123
3.651
-362
0
2.436
-46
75
2.093
208
74
2.925
-128
60
2.159
136
63
94
-284
784
462
2.321
-319
544
17
0
0
-234
-348
0
0
0
361
5.011
-492
8
48
9 -1.092
189
3.553
514
-46
1.876
134
2.367
168
195
347
99
1.311
381
51
-151
186
2.969
238
155
111
-73
569
-479
137
46
-318
-36
-448
189
2.695
114
13
221
1.427
67
-3
-340
-31
160
-218
-54
176
9
132
-113
-4
-92
924
764
1.520
40
23
-1.138
271
870
627
55
-19
124
-94
918
737
-42
-26
-557
401
874
490
274
-541
1.258
-162
479
1.235
-81
488
-418
422
735
665
33
90
118
-118
509
5
-113
-241
139
215
511
81
725
168
-244
249
558
13
14
15
2.597
3.078
231
-76
717
281
-730
169
398
167
361
65
-427
175
-27
133
90
-116
455
-1.650
144
16
17
4.734
596
3.087
130
2.141
178
2.324
-403
2.482
260
1.611
366
-523
485
1.164
-515
2 .2 1 0
-2 5
399
93
-765
400
18
-6 6
121
-5
-55
-53
-43
14
16
19
90
3
1.085
1.124
3
118
1.003
51
-95
-44
-1.244
1.193
3
4
5
6
7
10
11
12
-68
-525
688
868
10
124 CURRENT SURPLUS
1.0 2 0 NET ACO. OF FINANCIAL ASSETS
288
0
22
566
731
-1
DEMAND DEPOSITS + CURRENCY
TIME DEPOSITS
CORPORATE SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
STATE + LOCAL OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
COMMERCIAL PAPER
SECURITY RP•S
MISCELLANEOUS ASSETS
1.243 SAVINGS DEPOSITS
-338 MISCELLANEOUS LIABILITIES
9 DISCREPANCY
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
CREDIT UNIONS
1
2
2.894
3
4
5
-44
2.937
241
6
0
7
8
561
19
-309
851
153
45
653
955
13
321
621
119
28
474
1.098
1.199
6
0
120
2.696
2.948
-24
259
2.713
197
9
2.507
326
1.030
2.894
2.948
561
955
1.098
1.199
1
IV/74 FIGURES ARE TENTATIVE
652
440
102
12
1.079
50
-1
2
-3
-962
967
35
595
-2
2
1.087
-4
55
938
146
451
54
-5
402
0
0
-59
9 52
4
1.290
2
595
1.085
1.124
-95
-6
-1 0 1
834 NET ACQ. OF FINANCIAL ASSETS
15
DEMAND DEPOSITS + CURRENCY
298
SAVINGS + LOAN SHARES
521
CREDIT MARKET INSTRUMENTS
192
U.S. GOVERNMENT SECURITIES
5
HOME MORTGAGES
324
CONSUMER CREDIT
834 CREDIT UNION SHARES
(1) INCLUDES INVESTMENT COMPANY SHARES.
ESTIMATES BASED ON INCOMPLETE INFORMATION.
1
2
3
4
5
6
7
8
5 FEBRUARY 1975
INSURANCE ♦ PENSION FUNDS
INSURANCE ♦ PENSION FUNDS
10
10
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
UNADJUSTED QUARTERLY FLOWS
1974
I
1972
| III
I
|
IV
1974
1973
I
II
III
IV
II
III
LIFE INSURANCE COMPANIES
5
1.756
1.259
1.933
1.434
413
287
432
265
422
346
433
313
445
352
456
248
468
378
485
293
496
432
16.617
90
16.747
29
4.089
94
3.514
559
4.700
-457
3.393
260
4.041
23
4.483
264
3.915
-262
4.574
-298
3.557
12.053
72
45
5.851
-466
4.327
23
2.050
13.742
522
3.215
64
11
1.389
-670
936
1.235
250
258
873
1.836
-177
5
2.095
-132
1.638
-1.818
225
246
870
4.051
94
-35
1.182
-276
544
2.256
286
236
1.138
1.767
26
41
1.926
-374
7C1
-942
389
228
767
3.027
-22
782
3.208
-26
-27
1.357
174
1.966
-924
484 CURRENT SURPLUS
331 PHYSICAL INVESTMENT
1
2
3.977
75
4.281 NET ACQ. OF FINANCIAL ASSETS
514
DEMAND DEPOSITS ♦ CURRENCY
3
4
523
4.119
26
51
2.251
-49
1.306
-249
783
230
483
3.186
12
34
968
159
1.122
10
881
233
420
CORPORATE SHARES
3.114
CREDIT MARKET INSTRUMENTS
-11
U.S. GOVERNMENT SECURITIES
29
STATE + LOCAL OBLIGATIONS
2.274
CORPORATE BONDS
466
HOME MORTGAGES
1.334
OTHER MORTGAGES
-1.676
OPEN-MARKET PAPER
698
POLICY LOANS
233
MISCELLANEOUS ASSETS
9
10
11
12
13
14
4.278 NET INCREASE IN LIABILITIES
1.772
LIFE INSURANCE RESERVES
1.546
PENSION FUND RESERVES
-50
TAXES PAYABLE
1.010
MISCELLANEOUS LIABILITIES
15
16
17
18
19
150 DISCREPANCY
20
1
2
13
14
2.201
917
213
6.575
380
4.749
-754
2.701
926
229
624
3.323
-149
99
1.082
-196
987
1.161
339
230
15
16
17
18
19
15.131
7.209
5.150
36
2.736
15.784
7.206
5.681
-12
2.909
3.984
1.630
1.558
96
700
3.552
1.684
1.328
-24
564
3.914
1.750
1.230
182
752
3.693
1.824
1.266
-207
810
3.672
1.840
1.305
87
440
3.852
1.795
1.349
-26
734
2.916
1.768
773
177
198
4.559
1.857
1.930
-215
987
4.031
1.809
1.432
76
714
-989
-464
21
205
-710
420
-276
-423
-909
177
118
6
7
8
9
10
11
12
-1 2 2
66
1.386
10
1.116
-367
838
224
688
5
6
7
8
PRIVATE PENSION FUNDS
1
2
7.737
439
11.092
1.226
1.489
175
2.976
325
2.182
195
1.229
183
2.410
430
1.916
-369
2.056
266
2.302
609
3.289
319
3.445 NET ACQ. OF FINANCIAL ASSETS
DEMAND DEPOSITS + CURRENCY
32
3
4
5
5.290
1.953
638
1.605
-290
55
2 .0 0 1
1.044
342
205
279
-142
-72
1.945
477
584
15
1.259
710
308
524
1.103
734
1.093
241
874
-12 2
229
18
787
525
34
437
4
478
436
1.087
-67
1.178
-24
170
355
2.374
716
1.677
-19
241
423
2.720
554
2.168
-1 2 2
2.194
138
208
-18
-52
-47
3.556 NET ACQ. OF FINANCIAL ASSETS
40
DEMAND DEPOSITS ♦ CURRENCY
6
7
8
6.706
1.237
5.510
-41
1.159
12
-119
225
-94
-69
-2 2
153
-2
270
CORPORATE SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
CORPORATE BONDS
HOME MORTGAGES
MISCELLANEOUS ASSETS
3
4
5
6
7
8
STATE ♦ LOCAL GOVERNMENT EMPLOYEE RETIREMENT FUNDS
1
2
9.415
168
11.819
83
1.752
-55
2.119
63
2.456
-149
2.479
117
2.419
123
2.061
77
2.090
-119
2.919
161
3.254
3
4
5
3.922
5.325
113
-134
247
-618
5.936
-106
2.717
9.019
451
579
-128
-525
9.051
42
1.041
766
-237
-143
-94
-333
1.435
-99
1.004
1.052
-188
-179
-9
-56
1.434
-138
1.246
1.359
15
906
1.456
-55
-126
71
756
1.540
-29
1.014
970
182
69
113
-134
978
-56
1.109
808
1.950
578
471
107
-472
1.818
26
448
2.805
-52
-45
-7
-33
2.896
6
7
8
9
10
11
4
-387
1.792
-61
-1 2 0
1.517
114
-8 8
59
23
1.649
-103
1 .1 0 0
-280
-56
-224
-18
1.372
26
1
—6
352
3.164
205
209
-4
-2
2.965
-4
1
2
3
CORPORATE SHARES
CREDIT MARKET INSTRUMENTS
4
U.S. GOVERNMENT SECURITIES 5
DIRECT6
AGENCY ISSUES
7
STATE ♦ LOCAL OBLIGATIONS
8
9
CORPORATE BONDS
10
MORTGAGES
OTHER INSURANCE COMPANIES
1
1 .8 8 6
1.504
517
488
516
482
454
434
436
384
355
2
5.607
4.753
132
2.143
2 .1 1 0
1.364
1.382
1.424
92
1.437
96
1.176
-242
1.143
-9
1.195
309
1.239 NET ACQ. OF FINANCIAL ASSETS
74
DEMAND DEPOSITS + CURRENCY
-544
4.615
58
1.080
3.475
888
434
756
81
1.209
-525
-9
142
550
647
98
837
-294
244
1.033
-62
431
663
-27
1.041
-181
339
882
-578
1.327
104
6
1
1
221
1 .0 0 2
0
-183
1.214
197
89
928
144
141
138
137
944
114
1.089
3
4
5.
-2 2
2.170
2.801
6
-1 0 0
7
3.883
-965
-17
658
8
9
10
6
904
-127
1.267
-225
2
-11
-12
550
345
268
1.375
115
3.666
452
13
3.201
4.258
371
13
14
3.867
1.414
107
47
1.260
15
-55
1.009
-2 12
11
12
3
796
1.043
145
1.118
-208
20
-2 2 2
12
832
546
-189
1.282
-533
-14
208
354
852
-90
555
387
0
164
1.239
921
109
26
786
-32
802
808
920
118
-3
805
-247
73
-19
-26
-83
21
881
111
22
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
1.023
1.087
100
100
35
954
-32
955
88
21
978
349
264
247
329 CURRENT SURPLUS
0
134
1
2
3
4
CORPORATE SHARES
CREDIT MARKET INSTRUMENTS
5
U.S. GOVERNMENT SECURITIES 6
STATE + LOCAL OBLIGATIONS
7
8
CORPORATE BONDS
9
COMMERCIAL MORTGAGES
10
TRADE CREDIT
1.059 NET INCREASE IN LIABILITIES
83
CORPORATE EQUITIES
TAXES PAYABLE
-4
980
POLICY PAYABLES
149 DISCREPANCY
11
12
13
14
15
5 FEBRUARY 1975
FINANCE N.E.C.
FINANCE N.E.C.
11
11
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1
1973
1974
-279
-193
UNADJUSTED QUARTERLY FLOWS
IV
1 III
105
-519
1
11
1
-301
III
28
IV
107
1
I
II
III
-113
-218
25
89
253
59
-268
-634
1.096
1.629
58
-139
1.237
473
470
57
-1.147
927
633
18
234
-732
516
43
1.533
171
1.015
347
-36
IV
-89 CURRENT SURPLUS OF GROUP
FINANCE COMPANIES
1
2
3
4
5
6
7
8
9
10
10.382
246
1.372
5.898
2.071
65
1.265
1.085
-344
5.006
64
1.452
2.133
1.357
1.623
63
103
401
1.056
3.660
62
969
1.747
882
1.634
61
400
1.791
-618
3.465
60
2 .8 6 6
4.047
230
-1.654
2.140
3.331
9.419
1.777
4.093
3.549
55
3.816
1.073
7
2.736
76
1.497
1.303
4.959
1.800
2.203
956
29
1.378
406
635
337
42
3.466
670
2.051
745
-48
1.321
230
1.093
-2
3.254
471
314
2.469
40
21
1 .0 1 2
-818
20
-1 0 0
1.959
1.546
1.695 NET ACQ. OF FINANCIAL ASSETS
56
DEMAND DEPOSITS + CURRENCY
-1 0 0
HOME MORTGAGES
610
CONSUMER CREDIT
1.129
OTHER LOANS (TO BUSINESS)
1
2
89
93
-495
491
39
2.176 NET INCREASE IN LIABILITIES
575
CORPORATE BONDS
219
BANK LOANS N.E.C.
1.382
OPEN-MARKET PAPER
30
TAXES PAYABLE
6
216
71
145
231
76
155
3 PHYSICAL INVESTMENT
MULTI-FAMILY STRUCTURES
1
2
NONRESIDENTIAL STRUCTURES
269
73
-143
3
4
5
7
8
9
10
REAL ESTATE INVESTMENT TRUSTS
1
2
291
96
195
325
107
218
86
30
340
220
28
58
10
20
112
22 8
1.599
429
376
760
34
1.431
334
113
693
291
1.609
339
327
597
346
1.538
360
347
630
1 .0 1 0
239
-67
568
270
590
185
164
331
-90
1.927
310
1.617
1.722
440
1.282
128
42
1.934
474
1.460
142
47
95
1.624
126
1.49 8
930
30
900
70
23
47
485
-89
574
3
7
1.040
-310
1.350
40
13
27
1
0
1
-107
195
39
13
26
150
1.144
-140
178
1.119
52
637
799
170
1.085
55
130
1.295
-595
7
2.382
-1.816
-2
21
778
-620
-25
515
-444
0
0
0
0
0
0
0
0
732
241
491
790
260
530
252
83
169
5.588
1.272
720
2.488
1.108
720
273
276
466
-295
850
1.510
-190
1.700
95
31
64
1 .1 0 2
13
14
6.320
730
5.590
320
105
215
15
16
17
550
3.985
735
110
4.970
-3.475
38
-52
663
60
807
640
18
0
0
0
0
3
4
5
6
7
8
9
10
11
12
68
333
415
34
338
764
115
38
77
328
108
110
36
74
86
201
10
100
121
-25
10
10
3
-166
88
4 NET ACQ. OF FINANCIAL ASSETS
5
HOME MORTGAGES
2
MULTI-FAMILY MORTGAGES
11
COMMERCIAL MORTGAGES
-14
MISCELLANEOUS ASSETS
1
2
3
4
5
6
7
8
7 NET INCREASE IN LIABILITIES
9
-24
CORPORATE EQUITIES
10
31
CREDIT MARKET INSTRUMENTS
11
-15
MORTGAGES
12
-5
MULTI-FAMILY RESIDENTIAL
-1 0
COMMERCIAL
CORPORATE BONDS
BANK LOANS N.E.C.
OPEN-MARKET PAPER
15
16
17
MISCELLANEOUS LIABILITIES
OPEN-END INVESTMENT COMPANIES
1
-633
-350
-25
-630
-411
-64
16
-174
-270
12
32
2
-2.219
297
1.223
-164
-272
-753
402
-706
-80
144
63
-904
-8
-649
40
-89
-32
-560
-67
777
-123
4 -2.314
5
-2 0 2
6
471
7
-872
8
199
-533
1.920
-360
-696
2.976
-745
481
142
93
246
-255
-434
-23
-34
-377
-1.297
142
292
-195
45
-564
-62
81
-532
389
-549
630
96
-912
-2 2
216
294
-361
-529
-682
625
-301
189
737
-8 6
120
-407
-364
-529
486
-35
935
331
-364
968
9
1.573
-247
-19
-342
-642
128
-730
181
-572
745
3
-1.586
-8 8
-124 CURRENT SURPLUS
1.095 NET ACQ. OF FINANCIAL ASSETS
58
DEMAND DEPOSITS + CURRENCY
270
767
-26
8
785
CORPORATE -SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
CORPORATE BONDS
OPEN-MARKET PAPER
1.219 NET SHARE ISSUES
SECURITY BROKERS AND DEALERS
1
2
-3.532
-3.49 5
30
-84
-4
3.904
-4
-4.616
-892
8
0
2
-1.017
3
2.993
3
-3.985
5
700
7
-457
3
4
5
404
616
-4
218
402
-4.560
-838
-1.014
248
-42 5
-837
-1.673
-496
44
662
-123
-495
372
1.639
2.148
242
268
1.638
291
447
65
92
290
-1.632
-395
95
459
31
-395
-720
1.774
2.304
119
412
1.773
-1.088
-1.431
-3.007
-1.037
-540
-1.430
448
620
473
-144
121
-1.266
-2.230
-647
-317
-1.266
- 1 .1 2 0
159
1.072
896
17
159
-1.696
-3.456
-3.444
-3.205
-239
-3.255
-3.147
-2.875
-272
-108
-106
-134
57
-191
28
3.893
3.879
3.534
345
14
-4.620
-4.635
-4.404
-231
15
-872
-836
-514
-322
-36
-992
-1.004
-1.161
157
3.028
3.031
2.874
157
-3
-3.935
-3.922
-3.776
-146
-13
6
7
8
9
10
11
12
13
-1 2
12
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
-2
619
-400
801
859
1 .1 1 2
-2 53
-58
8
-418
-404
-440
36
-14
247 NET ACQ. OF FINANCIAL ASSETS
10
DEMAND DEPOSITS ♦ CURRENCY
-186
448
533
100
-185
-25
CORPORATE SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
STATE ♦ LOCAL OBLIGATIONS
CORPORATE BONDS
SECURITY CREDIT
297 NET INCREASE IN LIABILITIES
320
SECURITY CREDIT
229
FROM BANKS
91
CUSTOMER CREDIT BALANCES
-23
TAXES PAYABLE
9
10
11
12
13
5 FEBRUARY 1975
REST OF THE WORLD
REST OF THE^WORLD
12
12
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
UNADJUSTED QUARTERLY FLOWS
1973
1974
1
1972
I III
1
1
IV
I
I
1973
II
I
III
IV
1974
I
II
III
IV
REST OF THE WORLD
1.956
3.943
1
2 100.350 139.416
-169
24.451
24.620
876
1.045
3.392
29.254
25.862
1.147
-2.245
3.556
32.732
29.176
913
-2.643
-318
35.489
35.807
966
1.284
-2.728
34.204
36.932
820
3.548
302
2.516
9
731
801
1.173
2.521
-3.296
2.089
-4.451
5.733
0
0
410
2.088
840
-44
-310
741
10.743
-29
975
1.706
2.6 6 6
0
871
-1.618
-1.729
133
-22
486
-2.960
-2.900
-183
123
376
1.440
-710
287
1.863
3.986
2.761
340
885
84
2.947
-789
73
3.663
4.554
2.643
450
1.461
6
-2.701
17.289
19.990
937
3.638
-260
20.343
20.603
879
1.139
487
22.044
21.557
753
266
233
24.601
24.368
1.446 NET U.S. EXPORTS
36.991
U.S. EXPORTS
35.545
U.S. IMPORTS
882 TRANSFER RECEIPTS FROM U.S.
-564 CURRENT ACCOUNT BALANCE
(U.S. BALANCE, SIGN REVERSED)
3
4
5
96.407 137.460
3.876
3.581
-67
1.625
6
2.109
17.436
9
2.514
2.889
-2.056
32.560
-172
2.070
6.630
4.688
6.409
3
113
616
2.473
5.082
3.930
10.310
0
0
521
1.190
-715
1.254
2.758
738
340
97
301
272
12.927
3.905
1.150
7.872
323
5.147
5.329
-142
-40
1.087
13
14
15
1.273
7.876
7.806
60
-53
10
128
-2.560
-2.837
87
190
16
17
-33
986
-58
904
-26
159
80
273
-56
141
-34
-26
570
43
309
51
398
-30
428
-56
17
-23
61
18
7.575
9.987
74
1.919
537
3.435
2.320
1.283
3.822
3.695
1.104
1.366
148
1.677
1.870
585
-50
569
-169
1.535
7
8
9
10
11
12
12
-46
111
1 .1 0 0
867
-6
12
6.754
-123
-456
3.237
-2 0 0
1.063
2.537
3.975
3.245
2.908
3.834
998
158
-1.082
-814
224
2.509
-277
351
463
693
588
2.154
460
20
21
974
187
712
384
22
15.327
34.616
1.721
2.609
6.380
2.214
1.348
5.385
10.184
1 0 .0 0 2
4.088
10.342
-8
13
15
210
329
881
-158
-5
731
209
-723
1.245
8
2.755
504
1.334
917
13
3.704
633
1.487
1.584
-124
6.368
437
3.337
2.594
12
-24
999
-4
16
717
-62
151
100
58
2.696
233
-701
1.420
1.744
1.515
83
-1.056
1.750
738
6.429
216
1.907
500
3.806
543
882
23
-2 0 0
1.262
-119
-6 6
-2 2 0
24
25
26
27
28
-2 0 0
-196
15.712
1.880
-81
671
-128
551
248
-209
1.937
249
1.044
644
-164
2.163
113
1.075
975
7.728
991
2.802
3.935
6 .2 0 0
7.632
29
30
-181
1.877
-31
2.636
-3
21
60
468
-48
154
31
32
33
34
35
6.303
348
4.798
3.649
-2.492
15.233
646
2.520
4.915
7.152
1.232
47
1.727
726
-1.268
419
115
-271
-258
833
36
-2.176
3.681
-1.050
-1.334
-39
2.079
165
1.116
798
-12 1
886
1 .6 6 8
185
539
4.495
77
2.904
2.061
-547
118
81
412
669
-1.044
-78
313
-179
1.632
188
1.560
606
-722
4.593
114
2.370
1.245
864
-3.664
565
-128
1.051
1.808
2
-85
1 .6 8 8
385
-939
2.242
0
0
3.952
425
2.315
1 .2 1 2
19
U.S. CORPORATE EQUITIES
CREDIT MARKET INSTRUMENTS
U.S. GOVT. SECURITIES
U.S. CORPORATE BONDS (2)
OPEN-MARKET PAPER
11
12
SECURITY CREDIT
TRADE CREDIT
16
17
MISCELLANEOUS ASSETS
U.S. BANK LIABILITIES
TO FOREIGN AFFILIATES
DIR. INVESTMENT IN U.S.
OTHER
18
20
21
NET INCREASE IN LIABILITIES
U.S. OFF. FGN. EXCHANGE
+ NET IMF POSITION
23
FOREIGN EOUITY ISSUES
CREDIT MARKET INSTRUMENTS
CORPORATE BONDS
BANK LOANS N.E.C.
OTHER LOANS
24
25
26
27
28
SECURITY DEBT
TRADE DEBT
29
30
MISCELLANEOUS LIABILITIES
USG EQUITY IN IBRD, ETC.
FGN. CURR. HELD IN U.S.
U.S. DIR. INV. ABROAD(2)
OTHER
31
32
33
34
35
448 DISCREPANCY
(1) CONSISTS ONLY OF NET PURCHASES FROM U.S.
EXCLUDES ACQUISITIONS FROM OTHER SOURCES.
(2) NET OF U.S. SECURITY ISSUES IN FOREIGN MARKETS TO
FINANCE U.S. INVESTMENT ABROAD.
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
3
4
5
6
- 1 .0 1 2 NET FINANCIAL INVESTMENT
NET ACQ. OF FINANCIAL ASSETS 7
9.330
8
GOLD + SDR'S (1)
-2 0
9
U.S. DEMAND DEPOSITS
1.595
10
U.S. TIME DEPOSITS
1.997
2.681
1.281
-140
19
1
2
13
14
15
19
22
36
5 FEBRUARY 1975
MONETARY AND INSURANCE RESERVES
MONETARY AND INSURANCE RESERVES
13
13
GOLD, OFFICIAL FOREIGN EXCHANGE* TREASURY CURRENCY, AND INSURANCE RESERVES
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1974
UNADJUSTED QUARTERLY FLOWS
I
1972
| III
I
I
IV
1973
I
II
III
I
I
IV
1974
I
II
III
GOLD AND OFFICIAL FOREIGN EXCHANGE HOLDINGS (1)
1
1
-209
1.434
-1 2 2
-6 6
-2 2 0
-17
13
15
210
358
1.004
2
-9
-9
-3
-3
0
0
0
0
0
0
0
0
0
123
123
0
0
0
0
29
29
0
0
0
0
-9
-9
0
172
87
85
0
0
-2 0 0
1.262
-119
-6 6
-2 2 0
-8
13
15
210
329
881
-158 U.S. FOREIGN EXCHANGE POSITION
5
152
-241
-1
-240
6
3
4
5
6
7
8
9
10
11
-233
-45
-188
-3
33
35
1.265
1.268
-3
-2
-1
-2
-138 TOTAL U.S. RESERVES
20 U.S. GOLD STOCK AND SDR'S
-65
U.S. GOVT.— EX. STAB. FUND
85
MONETARY AUTHORITIES (2)
2
3
4
-82
-152
70
-233
-45
-188
0
0
0
0
0
0
0
0
0
1
-1
2
85
1
0
84
152
15
16
13
11
13
15
-8
20
5
-13
0
15
15
209
215
13
0
-6
244
240
4
729
722
7
82
57
25
97
151
-54
103
108
-5
145 TOTAL U.S. GOVT. LIABILITY
180 MONETARY AUTHORITIES ASSET
-35 UNALLOCATED ASSETS
3
-134
-238
104
-5
5
-2
83
91
-8
OFFICIAL FGN. CURRENCY HLDGS
TREASURY
MONETARY AUTHORITIES
NET IMF POSITION
U.S. GOVERNMENT ASSET
MONETARY AUTHORITIES
7
8
9
10
11
TREASURY CURRENCY AND SDR CERTIFICATES
1
2
3
42 2
403
19
427
496
-69
111
130
-19
88
96
117
109
-2 1
-2 1
193
109
84
64
64
0
77
121
-44
1
2
INSURANCE AND PENSION FUND RESERVES
-
7.206
1.647
17
1.630
1.701
17
1.684
1.767
17
1.750
1.841
17
1.824
1.857
17
1.840
1.812
17
1.795
1.785
17
1.768
1.874
17
1.857
1.826
17
1.809
LIFE INSURANCE RESERVES:
1.789 NET CHANGE IN LIABILITIES
17
U.S. GOVERNMENT
1.772
LIFE INSURANCE COMPANIES
1
2
3
7.274
1.647
1.701
1.767
1.841
1.857
1.812
1.785
1.874
1.826
1.789 NET CHANGE IN ASSETS (HH)
4
1
2
7.277
7.274
68
68
3
7.209
4
7.277
10
24.359
2.057
22.302
5.150
7.737
9.415
31.474
2.882
28.592
5.681
11.092
11.819
5.069
270
4.799
1.558
1.489
1.752
7.254
831
6.423
1.328
2.976
2.119
5.686
-182
5.868
1.230
2.182
2.456
11
24.359
31.474
5.069
7.254
5.686
5
6
7
8
9
PENSION FUND RESERVES:
NET CHANGE IN LIABILITIES
U.S. GOVERNMENT
INSURANCE SECTOR
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S. + L. GOVT., RTR. FUNDS
7.289
2.315
4.974
1.266
1.229
2.479
5.830
-304
6.134
1.305
2.410
2.419
5.554
228
5.326
1.349
1.916
2.061
4.611
-308
4.919
773
2.056
2.090
10.950
3.799
7.151
1.930
2.302
2.919
7.189
-786
7.975
1.432
3.289
3.254
8.724
177
8.547
1.546
3.445
3.556
7.289
5.830
5.554
4.611
10.950
7.189
8.724 NET CHANGE IN ASSETS (HH)
5
6
7
8
9
10
11
INTERBANK CLAIMS
1
7.864
-1.086
3.208
-3.414
3.780
-713
8.856
-4.059
1.796
8.046
3.754 -14.682 NET CHANGE IN LIABILITIES
1
2
3
1.413
2.040
-1.235
1.174
-790
2.041
-1.045
-174
1.226
234
-2.055
-1.231
6.144
2.011
-3.902
1.026
1.350
-976
1.676
-1.352
3.170
2.152
-7.431
1.350
MONET. AUTH.— MEM. BANK RES.
— VAULT CASH
2
3
4.411
2.085
-1.598
-410
7
1.386
8
9
2.570
10
137
-1.025
-2.344
-1.906
-185
-1.673
1.328
92
1.957
1.791
1.155
-140
-196
972
-2.195
-981
1.371
701
1.783
3.740
-584
134
-1.567
60
1.422
872
-8.601
-8.838
-6.462
-2
0
655
-3.882
-18
-2.334
-50
11
7.722
5.463
1.252
-91
-1.395
5.606
91
-1.568
159
3.406
0
2.573
1.326
-332
-339
394
1.621
-18
-1.183
-1.562
-3.201
-18
-588
-1.992
339
2.320
538
-1.805
531
657
1.084
71
COMMERCIAL BANKING— 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
1.319
166
-1.214
1.782
1.247
-1.082
379
550
2.259
-1.727
237
4
5
6
11
2.326
-1 11
201
1.432
24
-1 0 2
-92
1.401
-346
8
FOREIGN BANKING AGENCIES—
DEPOSITS OF BANKS
12
7.864
-1.086
3.208
-3.414
3.780
-713
8.856
-4.059
1.796
8.046
3.754 -14.682 NET CHANGE IN ASSETS
13
14
15
-1.598
-875
-723
-1.906
-949
-957
1.155
443
712
1.371
232
1.139
-1.805
-1.852
47
-332
-74
-258
3.740
988
2.752
-3.201
63
-3.264
-1 0 2
-877
775
1.252
75
1.177
3.406
1.424
1.982
-6.462
-1.571
-4.891
MONETARY AUTHORITIES
F.R. FLOAT
LOANS TO MEMBER BANKS
16
17
18
19
9.462
5.779
1.413
2.040
2.326
820
1.258
-1.235
1.174
1.319
2.053
1.417
-790
2.041
166
-4.785
-2.433
-1.045
-174
-1.214
5.585
3.242
1.226
234
1.782
-381
-2.039
-2.055
-1.231
1.247
5.116
7.073
6.144
-858
-2.497
-3.902
1.026
379
1.898
924
1.350
-976
550
6.794
2.583
1.676
-1.352
2.259
348
3.595
3.170
2.152
-1.727
-8 .2 2 0
-5.844
-7.431
1.350
237
-18
-92
-91
-2
0
COMMERCIAL BANKING— TOTAL
COMMERCIAL BANKS
MEMBER BANK RESERVES
VAULT CASH
DEPOSITS AT FGN. BK. AG.
BANK AFFILIATES— LOANS
TO AFFILIATE BANKS
20
2 .0 1 1
-1.082
21
-410
-185
-140
-1 11
531
-339
-584
22
23
24
25
4.093
2.570
137
1.386
-253
1.328
92
-1.673
776
972
0
-196
-2.241
-1.992
339
-588
1.812
1.084
71
657
1.997
1.621
-18
394
-1.373
-1.567
60
134
1.657
1.066
4.302 -3.245 -2.376
FOREIGN BANKING AGENCIES
1.432
-346
5.606 -3.882
-50
DEMAND DEPOSITS AT BANKS
24
11
91
-18
8
TIME DEPOSITS AT BANKS
201
1.401 -1.395
655 -2.334
LOANS TO BANKS
(1) LINES 1 + 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/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
22
23
24
25
5 FEBRUARY 1975
MONEY AND DEPOSITS SUMMARY
14
MONEY AND DEPOSITS SUMMARY
‘14
MONEY STOCK AND TIME AND SAVINGS ACCOUNTS
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1974
UNADJUSTED QUARTERLY FLOWS
I
1972
I III
I
I
IV
1973
I
II
1974
III
IV
II
III
DEMAND DEPOSITS AND CURRENCY
11
12
13
14
15
16
17
18
19
15.962
6.041
-509
25.462 -10.948
10.879
-8.820
24.851 -15.114
17.470
14.956
13.054
-270
-312
2.391
93
2.514
10.870
8.800
3.699
1.360
548
1.379
1.814
2.070
-410
-523
1.484
24.066 -13.041
23.545 -12.326
14.195 -7.103
2.659 -2.060
1.348 -1.553
-339
1.780
3.563 -1.271
-715
521
11.205
10.474
5.717
285
916
895
2.661
731
-3.685
-4.095
59
179
-1.659
612
-3.286
410
22.991 -13.432 11 .740
20.903 -13.388 10.765
14.381 -7.92 5
5.897
1.326 -1.351 -1.393
1.984 -1.472
2.218
-876
575
1.223
1.989 -1.764
3.468
-44
2.088
975
-1.508
-4.829
-99
15.962
3.374
-498
-69
3.941
6.041
6.694
466
223
6.005
-509
12.588
-653
-5.295
1.847
2.795
- 1 .0 1 0
2.583
11.015
6
-535
266
-1.744
113
-
2 .0 0 2
-486
-69
-1.447
1.493
387
182
924
12.258
-7.962
16.859 NET CHANGE IN ASSETS
-7.337
19.899
-6.881
18.304
-3.285
9.012
875
3.229
-1.258
1.060
243
1.437
-3.456
3.566
-456
1.595
2.093
-326
-5.135
-1.682
518
-625
10.948
255
1.&78
73
-1.396
10.879
4.273
630
-5
3.648
-8.820
-4.177
-2.911
63
-1.329
24.851 -15.114
3.023
-451
-427
205
119
-200
3.018
-143
12.258
4.594
761
26
3.807
-7.962
-282
472
259
-1.013
16.859 NET CHANGE IN BKG. SYSTEM LIAB
2.833
MONETARY AUTHORITIES
-340
U.S. GOVT. CASH + DEPOSITS
-181
FOREIGN DEPOSITS
3.354
CURRENCY
21.417 -11.203
1.405
515
381
-788
19.631 -10.930
6.606
-956
736
6.826
-4.643
-2.224
347
-2.766
21.828 -14.663
1.655 -1.255
2.288
-163
17.885 -13.245
7.664
-243
949
6.958
-7.680
-1.097
-715
-5.868
14.026
-2.700
1.776
14.950
1.396
25.462
4.045
-9
140
3.914
1.860
-3.040
MONEY STOCK
DOMESTIC SECTORS
HOUSEHOLDS
NONFINANCIAL BUSINESS
S. + L. GOVERNMENTS
FINANCIAL SECTORS
MAIL FLOAT
REST OF THE WORLD
U.S. GOVERNMENT DEPOSITS
COMMERCIAL BANKING
U.S. GOVERNMENT DEPOSITS
FOREIGN DEPOSITS
PRIVATE DOMESTIC
11
12
13
14
15
16
17
18
19
TIME DEPOSITS AND SAVINGS ACCOUNTS
18.827 NET CHANGE - TOTAL
1
79.052
77.410
20.702
21.700
32.035
20.005
14.727
12.285
26.093
22 .823
9.667
2
50.934
3
4
5
30.316
606
55.422
28.618
26.616
188
10.656
5.377
5.553
-274
11.140
3.315
8.186
-361
19.576
10.852
8.501
223
11.214
4.249
6.870
95
14.786
8.682
5.976
128
5.358
-3.771
8.969
160
14.630
3.950
10.662
18
18.322
11.964
6.338
10.764
8.907
1.773
84
11.706
3.797
7.843
39.511
1.354
7.224
-167
123
2.889
37.418
6.577
4.726
71
5.019
9.840
-35
585
-40
63
801
6.271
-3.250
1.648
-151
11.560
1.653
1.576
151
1 1 .0 2 0
3.761
-4
74
1.190
11.645
3.465
2.988
164
60
1.254
11.755
1.174
2.003
-140
6.974
718
-240
75
7.864
215
1.640
0
-6
0
0
0
0
-1 0
0
6.630
9.047
510
290
118
75
616
840
-310
1.706
3.237
1.997
28.118
4.734
2.894
20.490
20.534
-44
21.988
3.087
2.948
15.953
15.694
259
10.046
2.141
561
7.344
7.653
-309
10.560
2.324
955
7.281
6.960
321
12.459
2.482
1.098
8.879
8.227
652
8.791
1.611
1.199
5.981
5.861
-59
-523
120
462
1.424
-962
6.927
1.164
595
5.168
5.022
146
11.463
13
14
15
16
17
1.085
8.168
7.081
1.087
4.501
399
1.124
2.978
2.860
118
-1.097
-765
-95
-237
1.007
-1.244
18
67.673
59.147
19.402
15.258
23.452
18.511
12.658
12.052
21.936
15.403
7.121
6
7
8
9
10
11
12
2 0 .0 1 2
0
1 .1 0 0
2
2 .2 1 0
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
20
3.991
1.750
-145
66
COMMERCIAL BANKING LIABILITY
LARGE NEGOTIABLE CD'S
OTHER AT COMMERCIAL BANKS
AT FOREIGN BANKING AGS.
ACQUIRED BY:
HOUSEHOLDS
7
CORPORATE BUSINESS
8
STATE ♦ LOCAL GOVERNMENTS
9
U.S. GOVERNMENT
10
MUTUAL SAVINGS BANKS
11
FOREIGN
AT SAVINGS INSTITUTIONS
MUTUAL SAVINGS BANKS
CREDIT UNIONS
SAVINGS ♦ LOAN ASSNS.
HELD BY: HOUSEHOLDS
CREDIT UNIONS
MEMO: TOTAL OF HOUSEHOLDS
14.687
TIME + SAVINGS ACCOUNTS
7.121
1.243
834
5.044
4.746
298
12
13
14
15
16
17
5 FEBRUARY 1975
U.S. GOVT. SECURITIES
15
U.S. GOVT. SECURITIES
15
U.S. GOVERNMENT SECURITIES MARKET SUMMARY
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1
2
3
4
UNADJUSTED QUARTERLY FLOWS
1
1972
1 III
1
1
1973
1973
1974
29.374
7.739
2.700
5.039
33.961
13.106
3.034
10.072
6.842
4.596
772
3.824
14.551
11.610
879
10.731
11.558
20.855
IV
I
8 .2 0 1
891
7.310
II
III
IV
1974
1
f
I
II
III
IV
-97
-5.941
911
-6.852
6.607
-1.119
441
-1.560
11.306
6.598
457
6.141
5.188
2.963
780
2.183
287
-6.375
822
-7.197
13.326
4.871
611
4.260
5.844
-164
134
5.874
7.726
333
350
7.043
4.708
475
245
3.988
2.225
359
70
1.796
6.662
241
-26
6.447
8.455
-258
-119
8.832
6.607
11.306
5.188
287
13.326
15.160 TOTAL NET ISSUES
11.647
TREASURY ISSUES
821
HOUSEHOLD SAVINGS BONDS
10.826
TREAS. EXCL. SAVINGS BONDS
5 21.635
746
1.300
8 19.589
100
7
-191
20.946
2.246
542
621
1.083
2.941
412
937
1.592
3.357
6
9
33.961
6.842
14.551
5
-932
-930
11.558
5
-1 0 2
-8 8
-97
-7
230
240
-2
1 .2 1 2
-14
3.963
-1 0
0
0
0
1.278
498
3.526
-319
3.436
1.275
7.806
-1.660
9.466
-2.837
-2.807
-30
-1.729
-1.290
-439
-2.900
44
-2.944
-710
325
-1.035
2.761
3.290
-529
-1.991
2.643
1.915
728
FOREIGN
SHORT-TERM MARKETABLE
OTHER
TOTAL PRIVATE DOMESTIC
10
11
12
29.374
-2
102
571
2.684
3.513
-242
-116
3.871
OTHER
BUDGET AGENCY ISSUES
LOAN PARTICIPATIONS (1)
SPONS. AGENCY ISSUES (2)
15.160 NET ACQUISITIONS, BY SECTOR
-8
U.S. GOVT. (AGENCY SEC.)
428
SPONSORED CREDIT AGENCIES
428
TREASURY MARKETABLE
0
FHLB SPECIAL ISSUE
827
FEDERAL RESERVE SYSTEM
-6
0
-292
-292
5.219
-985
-949
-36
-2.444
340
-5.713
6.053
3.905
6.732
-2.827
5.329
1.658
3.671
-46
18
18.422
25.135
4.942
14.312
-114
1.239
7.372
9.925
7.002
-5.667
12.530
11.270
19
20
21
22
18.753
2.700
4.671
11.382
17.884
3.034
4.282
10.568
1.676
772
161
743
4.657
879
3.780
2.989
911
-936
3.014
9.079
441
3.354
5.284
3.891
457
2.034
1.400
4.667
780
4.348
-461
-8
-2
2.794
891
219
1.684
822
-5.488
4.658
11.487
611
4.318
6.558
1.738
821
1.104
-187
23
24
25
26
20.360
2.700
6.521
11.139
12.958
3.034
447
9.477
1.402
772
-136
766
2.223
879
782
562
3.901
891
539
2.471
4.617
911
489
3.217
10.183
441
5.191
4.551
1.659
457
302
900
3.864
780
4.044
-960
1.577
822
-3.246
4.001
11.026
611
3.801
6.614
-3.509
821
-4.152
-178
27
28
29
-1.813
-3.029
1.216
1.189
1.233
-44
-414
-528
114
1.844
1.540
304
-500
-865
365
-442
-782
340
-1.842
-2.303
461
971
921
50
-958
-991
33
424
351
73
-683
-585
-98
2.406
2.458
-52
CORPORATE BUSINESS
TREASURY ISSUES
AGENCY ISSUES
27
28
29
30
31
32
206
1.179
-973
3.737
2.602
1.135
688
590
1.458
-8 6 8
-607
545
-1.152
-1.186
-643
-543
738
466
272
1.261
811
450
1.761
1.295
466
-2.009
-2.593
584
1.144
825
-137
42
2.841
2.798
43
STATE ♦ LOCAL GOVERNMENTS
TREASURY ISSUES
AGENCY ISSUES
30
31
32
33
34
35
-1.273
-8.833
7.560
1.422
-2.741
4.163
1.314
1.081
233
8.088
5.955
2.133
-5.839
-5.968
129
-1.085
-3.430
2.345
-2.701
2.580
5.772
3.266
2.506
637
-224
861
-4.756
-6.106
1.350
41
-583
624
5.500
4.172
1.328
COMMERCIAL BANKING
TREASURY ISSUES
AGENCY ISSUES
33
34
35
36
37
38
942
-1.098
2.040
5.829
2.933
2.896
1.952
617
1.335
1.567
1.045
522
2.931
1.407
1.524
-665
-1.047
382
-1.586
-1.224
-362
262
-234
496
1.698
43
1.655
-903
-577
-326
1 .0 0 2
4.032
2.631
1.401
PRIVATE NONBANK FINANCE
TREASURY ISSUES
AGENCY ISSUES
36
37
38
39
40
41
42
942
3
-1 .0 0 0
1.003
5.829
3.606
2.150
1.456
1.952
922
-107
1.029
1.567
484
464
2.931
2.718
1.750
968
-665
-690
-650
-40
-1.586
-1.992
-1.610
-382
262
-33
-490
457
1.698
3.324
1.800
1.524
-903
-584
1 .0 0 2
-584
-791
-500
-291
4.032
1.657
850
807
PVT. NONBANK FIN., BY SECTOR
SAVINGS + LOAN ASSNS.
TREASURY ISSUES
AGENCY ISSUES
43
44
45
-492
-555
63
514
256
258
168
-14
182
381
-45
426
238
67
-165
232
-479
-315
-164
-318
-81
-237
114
-84
198
-218
-165
-53
-113
-85
-28
731
590
141
MUTUAL SAVINGS BANKS
TREASURY ISSUES
AGENCY ISSUES
46
47
48
241
223
18
197
153
47
106
119
48
71
102
69
33
50
57
-7
35
50
-15
54
47
7
55
45
51
41
-1 0 1
10
-36
-65
192
71
10
CREDIT UNIONS
TREASURY ISSUES
AGENCY ISSUES
49
50
51
72
-163
235
-330
208
64
64
-177
-161
-16
94
48
46
26
-108
134
-2 2
-26
-25
-149
-195
46
26
-35
61
-50
62
-50
39
LIFE INSURANCE
TREASURY ISSUES
AGENCY ISSUES
52
53
54
638
128
510
1.237
381
856
205
95
584
555
29
308
45
263
-119
-141
110
241
174
67
208
50
158
34
-57
91
-67
-176
109
716
360
356
554
254
300
PRIVATE PENSION FUNDS
TREASURY ISSUES
AGENCY ISSUES
55
56
57
113
-134
247
451
579
-128
-237
-143
-94
-188
-179
-9
15
-55
-126
71
-29
-8 8
59
182
69
113
-280
-56
-224
578
471
107
-52
-45
-7
205
209
-4
S. + L. GOVT., RTR. FUNDS
TREASURY ISSUES
AGENCY ISSUES
58
59
60
-1 0 0
58
-1 12
-127
-129
145
144
-189
-167
-62
-72
1
-2 2
81
64
17
98
99
2
-90
-60
-30
10
104
-35
139
200
-1
-181
-205
24
197
-64
-36
OTHER INSURANCE COMPANIES
TREASURY ISSUES
AGENCY ISSUES
61
471
-360
142
-23
292
81
120
-2 2
-301
-364
331
-26
62
-4
248
662
242
-647
65
459
119
-1.037
-144
896
533
13
14
1.349
1.373
-24
9.265
15
16
17
0
121
76
-1 2 2
0
170
-2
-44
20
6
232
11
4
22
-2
2
2
-1
1
468
468
753
753
-787
-787
-242
-242
309
309
-1 2 1
-78
56
-1
0
0
0
-789
1 .2 0 2
1 .1 0 2
836
166
12
121
-11
-3
PRIVATE DOMESTIC NONFINAN.
SAVINGS BONDS (HH)
TREAS. EXCL. SVGS. BONDS
AGENCY ISSUES
PVT. DOM. NONFIN., BY SEC.
HOUSEHOLDS
SAVINGS BONDS
TREAS. EXCL. SVGS. BONDS
AGENCY ISSUES
INVESTMENT COS. (TREAS.)
SECURITY BROKERS +
DEALERS (TREAS.)
(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 MARKET
DEBT OF FINANCIAL INSTITUTIONS. SPONSORED AGENCY ISSUES INCLUDE
GNMA-GUARANTEED SECURITIES BACKED BY MORTGAGE POOLS.
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
5 FEBRUARY 1975
PRIVATE SECURITIES AND MORTGAGES
16
PRIVATE SECURITIES AND MORTGAGES
UNADJUSTED QUARTERLY FLOWS
1973
1974
16
*
PRIVATE SECURITIES AND MORTGAGES
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
I
1972
1 III
!
1
1
IV
1973
II
I
I
IV
III
1974
1
I
II
III
IV
STATE AND LOCAL GOVERNMENT SECURITIES
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
1
2
3.577
173
2.996
2.828
-600
3.428
168
2.724
2.403
-71
2.474
321
3.243
2.708
-518
3.226
535
3.987
3.498
268
3.230
489
3.755
3.304
73
3.231
451
4.012
3.601
148
3.453
411
5.007
4.583
710
3.873
424
3.927
3.596
1.602
1.994
331
4.012 NET CHANGE IN LIABILITIES
STATE + LOCAL GOVERNMENTS
3.530
SHORT-TERM
407
OTHER
3.123
CORPORATE BUSINESS
482
(POLLUTION CONTROL)
3
4
5
16.958
11.737
616
158
3.682
72
2 50
375
2.996
244
250
164
2.724
3.243
776
625
152
3.987
2.300
-375
-62
3.755
258
-637
30
4.012
1.326
531
38
5.007
2.290
3.927
5.149
35
53
4.012 NET CHANGE IN ASSETS
2.972
HOUSEHOLDS
61
CORPORATE BUSINESS
S. + L. GOVT., GEN. FUNDS
22
8
4.150
-46
213
-525
1.080
-425
1.968
195
952
51
5
-56
1.118
268
660
155
-35
-387
1.282
-317
1.125
-3
41
863
-6 8
66
3.052
-36
-27
-134
837
412
2.132
13
99
-18
431
-540
2.821
-54
51
-472
339
-1.545
-4
34
-33
-2
17
5.458
4.192
790
93
13.709
11.913
-248
12.161
1.796
16.958
15.310
2.867
12.443
1.648
3.682
3.509
13.709
4.335
-137
235
5.700
48
45
-618
3.883
218
-6 8
11
-333
1.267
-123
1 .0 0 1
250
115
-1 2 0
555
92
23
1.209
31
-1 1
45
221
742
-1
29
-2
89
100
COMMERCIAL BANKING
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
S. + L. GOVT., RTR. FUNDS
OTHER INSURANCE COMPANIES
BROKERS + DEALERS
6
7
9
10
11
12
13
14
15
CORPORATE AND FOREIGN BONDS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
3.129
2.657
-19
230
52
209
3.343
2.003
195
471
170
504
4.767
3.705
65
234
130
633
6 .1 1 1
3.343
207
332
-448
4.767
1.114
135
6 .1 1 1
-340
3.129
14
302
-525
868
176
4.055
1.926
225
1.517
387
-532
290
87
3.384
1.386
874
1.649
-52 5
216
-395
133
2.023
1.357
-18
978
-294
-361
1.773
-183
3.604
1.082
487
1.372
663
189
-1.430
287
6.129
2.251
1.178
1.818
882
-529
619
340
849
-730
1.579
2.213
-450
118
-310
2.129
181
1.948
1.555
250
809
-572
1.381
1.244
250
100
100
88
8
30
13
-89
-124
-107
-85
886
5.039
2.563
367
1.800
60
249
2.053
1.452
3.960
3.047
-6 8
-1 0 0
1.880
4.387
3.037
137
1.303
38
-128
406
150
113
670
178
165
12.485
1.059
464
-1.092
23.322
-3.035
253
1.876
4.387
1.456
250
347
5.039
-386
525
-151
2.053
337
-69
3.960
501
221
12.427
5.851
1.605
5.936
-965
-872
402
97
24.611
6.575
5.510
9.051
3.475
-696
-837
1.150
2.878
1.389
279
1.435
-225
93
-495
-142
3.336
2.095
15
1.434
-208
-34
1.638
2.965
1.182
524
1.792
-533
-195
-1.266
60
12.485
9.159
8
1.777
550
991
23.322
19.044
1.215
1.073
110
11 1
-10 1
5.386
110
171
7
437
-645
21
-2
385
5.458
-901
40
-92
6.543
968
1.677
2.896
6.986 NET ISSUES
5.761
CORPORATE BUSINESS
250
COMMERCIAL BANKS
575
FINANCE COMPANIES
-25
REITS
42 5
REST OF THE WORLD
6.986 NET PURCHASES
HOUSEHOLDS
-2.603
57
COMMERCIAL BANKING
924
MUTUAL SAVINGS BANKS
1 .0 0 2
8.335
2.274
2.168
2.965
928
-364
159
73
-185
450
8
INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S. + L. GOVT., RTR. FUNDS
OTHER INSURANCE COMPANIES
OPEN-END INVESTMENT COS.
BROKERS ♦ DEALERS
REST OF THE WORLD
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
CORPORATE EQUITIES
1
2
8.032
-1.586
9.618
3
4
7.420
1.216
5
6
452
7
730
8
-2 0 0
9
8.032
10 -8.172
56
11
361
12
13 14.939
14
3.557
15
5.290
16
3.922
17
2.170
18 -2.314
404
19
2.758
20
886
3.259
-19
3.278
2.640
422
115
310
-209
2.294
-342
2.636
1.751
500
109
440
-164
2.533
-642
3.175
2.169
460
371
-190
-196
2.878
-247
3.125
2.596
165
107
338
-81
474
-39
2.356
128
2.228
1.287
706
114
126
-5
6.052
738
2.878
167
3.259
-3.929
2.533
-934
2.356
-189
849
-6.184
2.129
913
809
-1.446
-39
0
0
0
0
0
0
0
134
3.495
522
1.044
1.041
99
4.618
873
1.945
1.004
796
-255
1.639
1.087
0
111
0
189
6.224
2.050
2.294
-8 6 5
56
186
4.207
870
1.259
1.246
832
-1.297
-1.266
1.273
-73
2.691
767
734
756
434
-549
-395
871
137
4.540
782
2.194
1.014
550
96
1.774
486
189
2.764
624
787
1.109
244
-682
-1.431
376
-31
1.740
523
436
808
-27
12
9
708
483
355
448
-578
-35
159
84
6.052
1.573
4.479
3.494
1 .0 0 0
2 .0 0 1
2.717
-544
-533
-838
272
888
-745
-496
323
111
3.501
1.138
1.103
906
354
-564
291
128
-8 6
620
745
141
-5
250
2.228 NET ISSUES
OPEN-END INVESTMENT COS.
1.219
1.009
OTHER SECTORS
700
CORPORATE BUSINESS
COMMERCIAL BANKS
250
OTHER INSURANCE COMPANIES
83
-24
REITS
REST OF THE WORLD
0
2.228 NET PURCHASES
1.310
HOUSEHOLDS
COMMERCIAL BANKING
0
MUTUAL SAVINGS BANKS
22
INSURANCE
1 .0 1 2
LIFE INSURANCE COMPANIES
420
PRIVATE PENSION FUNDS
423
S. + L. GOVT., RTR. FUNDS
352
OTHER INSURANCE COMPANIES
-183
OPEN-END INVESTMENT COS.
270
-186
BROKERS + DEALERS
REST OF THE WORLD
-2 0 0
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
TOTAL MORTGAGES
1
10.361 NET CHANGE IN MORTGAGES
BORROWED BY:
U.S. GOVERNMENT
2
-2 0
SAVINGS + LOAN ASSOCIATIONS
3
-1 .0 2 2
4
-15
REITS
PRIVATE NONFINANCIAL SECTORS 5
11.418
6
HOUSEHOLDS
7.732
7
340
NONPROFIT INSTITUTIONS
8
3.346
BUSINESS
9
FARMS
1.292
NONFARM NONCORPORATE
10
790
1.264
CORPORATE
11
71.907
53.633
19.126
19.467
15.383
21^695
20.699
14.130
11.572
18.808
12.892
-71
3 -1.533
4
320
5 73.191
6 44.208
1.408
7
8 27.575
9
4.383
10
7.067
11 16.125
-47
-1.463
95
55.048
32.220
1.372
21.456
4.810
5.858
10.788
-2 1
-2 2
-2 1
101
-2 1
-6
19.264
11.297
358
7.609
444
2.618
4.547
21.400
11.681
350
9.369
1.178
2.827
5.364
-1.388
40
15.484
10.430
349
4.705
928
520
3.257
-3
-186
70
11.691
8.946
346
2.399
891
-104
1.612
-27
552
128
15.175
10.554
355
4.266
998
792
2.476
-23
444
142
21.132
11.543
354
9.235
1.279
2.928
5.028
18.282
9.137
344
8.801
1.355
2.613
4.833
3
-807
39
13.657
6.405
342
6.910
1.272
2.559
3.079
12
71.907
494
-583
53.633
792
1.861
19.126
19.467
-707
-191
15.383
-861
-411
21.695
567
-776
20.699
385
774
14.130
403
-170
11.572
-370
-287
18.808
279
219
12.892
69
680
10.361
661
1.249
-2
0
2
2
0
0
0
0
1
1
2
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
237
115
18.795
10.179
363
8.253
635
2.951
4.667
2
115
110
-690
10
-1
-1
-1
1
222
10.357
15.005
1.530
1.700
1.873
2.516
3.142
2.826
3.053
3.886
4.479
3.587
61.641
19.754
32.587
26.912
5.675
35.975
11.526
19.956
17.663
2.284
9
17.523
4.934
10.494
8.952
1.497
45
18.663
4.266
10.146
8.463
1.655
28
14.782
4.234
9.234
7.858
1.364
19.388
5.566
11.243
9.530
1.714
16.399
5.674
7.996
6.602
1.400
11.072
4.280
4.114
2.922
1.197
-5
9.177
2.814
5.129
4.403
726
14.424
4.938
8.071
7.264
807
4.863
1.151
0
0
7.511
2.623
4.756
4.224
528
4
5.132
5.129
-41
42
14
266
-142
-99
2.038
2.140
-52
-56
822
791
4
26
1.260
1.257
-24
26
1.256
1.281
-19
1.794
1.800
0
3.448
3.861
-290
-106
-17
1.372
4.480
12
-1
1.234
1.506
71
268
-1 2 2
-1 2 2
-138
347
327
-94
114
-1.654
1.015
1.265
816
1.452
1.565
-61
-14
103
1.140
969
1.263
Digitized for
661
1.243
441
2.725
30
7.168
FRASER
2
6.657
-11
-12
0
-6
992
1.126
-2 2
-103
-9
400
1.337
6
-1 0 0
740
1
1
-6
0
-268
680
-139
294
-1.147
23
2 .0 0 0
1.772
223
5
-2
-4
0
-10 0
18
FUNDS ADVANCED BY:
HOUSEHOLDS
U.S. GOVERNMENT
S. + L. GOVT., GEN. FUNDS
SPONSORED CREDIT AG. (1) (2)
12
PRIVATE FINAN. INSTITUTIONS
COMMERCIAL BANKING
SAVINGS INSTITUTIONS
S+L ASSOCIATIONS (1)
MUTUAL SAVINGS BANKS
CREDIT UNIONS
17
18
19
INSURANCE
LIFE COMPANIES
PRIVATE PENSION FUNDS
S. + L. GOVT., RTR. FUND
OTHER INSURANCE COS.
FINANCE COMPANIES
REITS
2.647
3.130
1.032 (1) MEMO: FHLB LOANS TO S+L
ASSOCIATIONS (INCLUDED IN "OTHER LOANS" CATEGORY).
(2) INCLUDES MORTGAGE POOLS BACKING GNMA-GUARANTEED PASS-THROUGH SECURITIES.
3.153
849
-152
13
14
15
16
20
21
22
23
24
25
26
27
28
29
30
5 FEBRUARY 1975
MORTGAGES, BY TYPE
17
MORTGAGES, BY TYPE
17
MORTGAGE MARKETS BY TYPE OF MORTGAGE
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
UNADJUSTED QUARTERLY FLOWS
1974
I
1972
| III
1974
1973
II
II
III
III
HOME MORTGAGES
1
2
9.064
- 1 .0 1 1
-536
12.812
-23
-815
12.390
7.474
7.569
162
246
3.158
1.286
5.136 NET CHANGE IN ASSETS
153
HOUSEHOLDS
U.S. GOVERNMENT
361
STATE + LOCAL GOVERNMENTS
1
2.268
SPONS. CREDIT AGENCIES (1)
411
COMMERCIAL BANKING
10
11
12
3.714
3.543
167
4
1.573
1.435
133
5
SAVINGS INSTITUTIONS
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
CREDIT UNIONS
13
14
15
16
-73
-49
-24
-139
73
140
159
-19
-1.147
464
466
INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
FINANCE COMPANIES
REITS
17
18
19
2.005
NET BORROWING
1.407 NONFARM NONCORP. BUSINESS
603
CORPORATE BUSINESS
-5
REITS
-2 2
237
115
9
41.740
-933
-1.186
29.838
-159
530
11.861
-415
-59
11.136
-917
-266
10
11
12
-2
0
2
2
0
0
0
0
6.390
10.994
9.833
5.667
871
2.864
1.030
2.351
1.094
2.123
1.383
3.054
2.089
3.303
1.824
2.514
1.858
1.376
2.549
2.594
13
14
15
16
24.589
21.992
2.597
8.077
7.162
870
45
7.309
6.363
918
28
7.355
6.469
874
8.373
7.895
479
6 .0 1 2
5.283
735
2.849
2.345
509
-5
3.688
3.473
215
6.034
5.785
249
0
15.009
14.236
764
9
0
0
17
18
19
-756
-466
-290
1.372
1.272
339
380
-41
-1.654
273
-812
-670
-142
1.265
-254
-132
-398
-276
122
-1 2 2
-1 2 2
-192
-196
4
-268
185
1.452
429
-6
-1.388
1 1 .0 0 2
-2 1
68
-2 1
-690
6.131
-371
-144
9.064
10.554
-785
-785
20
21
-2 1
101
5.136 NET BORROWING
HOUSEHOLDS
7.732
NONFARM NONCORP. BUSINESS
-777
CORPORATE BUSINESS
-777
-2 0
U.S. GOVERNMENT
SAVINGS + LOAN ASSOCIATIONS
-1 .0 2 2
11.136
11.297
-127
-127
8
12
103
334
-1
-468
-374
-94
969
339
7.474
10.430
-781
-781
7.569
6.405
984
984
3
-807
11.861
10.179
733
733
7
12.390
11.681
710
710
1 1 .0 0 2
29.838
32.220
-436
-436
-47
-1.463
6
12.812
11.543
424
424
-23
444
6.131
8.946
-1.313
-1.313
-3
-186
41.740
44.208
-432
-432
-71
-1.533
3
4
5
-2 1
122
260
-95
-1
-6
-1
-1 2
10
-2 2
174
-52
400
360
-1 0 0
239
-1
9.137
670
670
-27
552
-103
67
10
-2
-1 0 0
5
9
20
21
MULTI-FAMILY RESIDENTIAL MORTGAGES
1
2
3
4
8.522
5.935
2.482
105
7.573
5.295
2.247
31
2.552
1.854
660
38
3.430
2.342
1.052
36
1.816
1.271
503
42
2.982
2.087
848
47
2.398
1.679
716
3
1.326
898
415
13
1.322
925
374
23
2.220
1.554
0
2.026
1.409
604
13
5
7.573
-33
1.115
2.401
468
2.552
205
104
343
330
3.430
798
78
312
455
1.816
-18
122
295
331
2.982
145
19
606
360
2.398
-26
464
579
276
1.326
-26
-205
523
187
1.322
-2
-197
631
114
2.220
166
98
622
237
2.026
-191
380
621
102
2.005
9
8.522
75
400
2.003
1.154
10
11
12
3.131
1.778
1.353
1.708
1.268
440
1.182
921
261
1.186
853
333
741
586
155
.260
511
749
684
511
173
446
170
276
407
239
168
679
579
100
402
281
121
220
169
51
SAVINGS INSTITUTIONS
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
10
11
12
13
14
15
1.145
-106
720
1.596
42
276
154
-99
333
363
-138
376
293
-61
113
151
114
327
177
-103
347
524
-56
-67
179
26
164
292
26
708
-6
10
417
-4
100
LIFE INSURANCE COMPANIES
S. + L. GOVT., RTR. FUNDS
REITS
13
14
15
1.928 NET BORROWING
340
HOUSEHOLDS
160
NONFARM NONCORP. BUSINESS
1.438
CORPORATE BUSINESS
-1 0
REITS
1.928 NET CHANGE IN ASSETS
298
HOUSEHOLDS
U.S. GOVERNMENT
0
628
COMMERCIAL BANKING
6
7
8
666
NET CHANGE IN ASSETS
-6
HOUSEHOLDS
834
U.S. GOVERNMENT
527 SPONS. CREDIT AGENCIES
15
COMMERCIAL BANKS
2
1
2
3
4
5
6
7
(1)
8
9
COMMERCIAL MORTGAGES
1
2
3
4
5
17.262
1.408
1.564
14.075
215
11.412
1.372
999
8.977
64
4.078
363
364
3.274
77
4.457
358
403
3.622
74
3.505
355
306
2.758
6
17.262
7
100
0
11.412
188
4.078
79
4.457
-491
8
0
-1 1
0
4.733
350
438
3.938
7
4.402
349
403
3.623
27
3.228
346
284
2.551
47
4.231
344
389
3.497
86
4.622
354
417
3.756
95
1
2.025
342
166
1.491
26
3.505
-164
4.622
38
4.733
47
4.402
179
3.228
-106
4.231
-29
2.025
25
0
0
0
0
0
0
0
9
6.945
4.781
1.630
1.336
1.591
1.882
1.957
1.515
1.159
1.909
1.085
10
11
12
4.872
3.142
1.730
3.214
2.159
1.055
1.234
869
365
1.650
1.247
403
1.132
803
329
1.619
1.124
495
1.300
808
492
821
407
414
1.032
691
341
1.335
900
435
640
400
240
207
168
39
SAVINGS INSTITUTIONS
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
10
11
12
13
14
15
2.874
-17
2.488
2.761
267
-14
693
486
808
-9
630
1.313
811
894
272
784
1
1
121
0
0
11
LIFE INSURANCE COMPANIES
OTHER INSURANCE COMPANIES
REITS
13
14
15
742
1.214
2
-1 1
466
-12
415
760
0
597
6
568
331
3
FARM MORTGAGES
1
4.383
4.810
635
444
998
1.279
1.178
928
891
1.355
1.272
1.292 NET BORROWING
1
2
4.383
1.252
203
1.964
661
-5
308
4.810
796
216
2.771
610
25
392
635
133
35
316
444
-97
-3
358
124
998
332
3
484
189
1.279
407
1.178
385
50
474
138
928
128
130
479
64
891
109
54
564
165
1.355
245
54
715
198
23
120
1.272
226
54
700
150
1.292 NET CHANGE IN ASSETS
216
HOUSEHOLDS
54
U.S. GOVERNMENT
792
SPONSORED CREDIT AGENCIES
97
COMMERCIAL BANKS
0
MUTUAL SAVINGS BANKS
133
LIFE INSURANCE COMPANIES
2
3
4
5
6
7
8
110
1
40
1
6
61
-16
20
527
270
-9
64
0
-2
2
131
129
-3
0
142
(1 ) INCLUDES MORTGAGE POOLS BACKING GNMA-GUARANTEED SECURITIES.
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
3
4
5
6
7
8
5 FEBRUARY 1975
*
CONSUMER CREDIT AND BANK LOANS N.E.C.
18
18
CONSUMER CREDIT AND BANK LOANS NOT ELSEWHERE CLASSIFIED
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1973
1974
CONSUMER CREDIT AND BANK LOANS N.€.C.
UNADJUSTED QUARTERLY FLOWS
I
1972
| III
|
I
IV
1973
I
II
III
I
|
IV
1974
I
II
III
CONSUMER CREDIT
1
2
22.922
20.105
2.817
9.635
8.687
948
5.164
4.828
336
8.588
6.139
2.449
1.756
2.043
-287
7.763
6.643
9.635
8.687
82
801
3.015
96
46
2.507
2.140
5.164
4.828
46
256
2.683
61
44
653
1.085
8.588
6.139
207
1.133
2.217
1.756
2.043
-78
-426
1.605
7.763
6.643
39
214
3.611
8
-2
66
12
22.922
20.105
223
1.216
9.712
177
183
2.696
5.898
-33
474
2.133
217
326
401
-64
1.030
1.747
13
14
15
16
17
18
2.817
1.041
791
896
41
48
948
877
339
-253
-9
336
-123
99
334
15
2.449
848
-287
155
-726
217
1 .1 2 0
-6
11
3
4
5
6
7
a
9
10
n
886
692
32
-9
1 .1 2 0
142
528
446
10
21
57
-17
5.952
6.075
-123
7.451
5.344
2.107
-2.914
-1.669
-1.245
5.853
4.847
1.006
4.481
4.524
-43
2.215 NET CHANGE IN LIABILITIES (HH)
INSTALMENT CREDIT
985
NONINSTALMENT CREDIT
1.230
1
2
5.952
6.075
50
270
2.919
81
26
938
1.791
7.451
5.344
-2.914
-1.669
-118
-649
-263
64
-59
-634
952
1.237
4.481
4.524
51
251
1.840
89
76
1.290
927
2.215 NET CHANGE IN ASSETS
INSTALMENT CREDIT
985
125
NONFARM NONCORP. BUSINESS
1.064
CORPORATE BUSINESS
COMMERCIAL BANKING
-945
SAVINGS + LOAN ASSNS.
-91
MUTUAL SAVINGS BANKS
-1 0 2
324
CREDIT UNIONS
FINANCE COMPANIES
610
4
5
-10
5.853
4.847
24
135
2.383
108
10
11
12
-123
-149
-72
2.107
893
1.061
145
7
-1.245
-42
-1.150
-67
-3
17
1.006
152
731
116
5
NONINSTALMENT CREDIT
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
COMMERCIAL BANKING
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
13
14
15
16
17
18
88
3
7
212
1.158
1.577
32
4
402
1.959
1
8
-43
15
2
-8
-1 1
1.230
752
636
-141
-3
-14
28.985
6.475
8.804
122
-161
3
6
7
8
9
BANK LOANS NOT ELSEWHERE CLASSIFIED
1
73.196
2 19.642
3 10.608
4 -2.960
-768
5
46.102
11.311
2.762
-3.348
1.270
10.074
4.857
3.017
302
-568
27.352
4.313
2.909
3.681
1.450
14.389
4.238
1.822
-3.981
-930
24.941
5.571
4.057
-181
-67
13.435
5.614
3.007
-1.219
-469
20.431
4.219
1.722
2.421
698
1.838
2.758
-330
-3.723
-428
4.882
2.499
1.294
382
2.571
1.679
-1.264
1 .1 0 0
-1.086
345
1.417
TOTAL LOANS AT COMMERCIAL
BANKS, F/F BASIS
6
0
0
0
0
0
0
0
0
0
0
-10 1
0
7
46.674
34.107
2.466
14.999
13.240
15.561
6.502
11.371
3.561
19.928
3.590
7.028
8
916
5.401
40.424
-32
842
3.276
334
-254
15.079
563
1.387
15.190
359
586
16.506
1.117
678
8.297
-337
1.088
1 2 .1 2 2
604
482
4.647
468
2.043
22.439
-143
487
3.934
-13
2.389
9.404
0
1 2 .1 2 2
0
0
0
0
4.647
22.439
3.934
9.404
4.647
4.753
-3.126
373
-585
6.604
1.487
22.439
16.367
-674
744
266
12.694
3.337
3.934
2.258
-829
56
-520
4.490
-939
9.404 NET CHANGE IN LIABILITIES
NONFINANCIAL SECTORS
6.534
HOUSEHOLDS
1.072
FARM BUSINESS
-400
NONFARM NONCORP. BUSINESS
-208
CORPORATE BUSINESS
3.755
REST OF THE WORLD
2.315
-106
-324
-732
1.29 5
-345
6.072
989
1.015
2.382
1.676
758
-495
778
635
2.870
-340
219
515
2.476
10
1.702
3.739
52.115
11
12
0
0
0
0
0
0
0
52.115
40.424
3.276
15.079
15.190
16.506
8.297
13
14
15
16
17
18
19
52.115
38.626
1.800
3.013
382
30.629
2.802
40.424
29.912
-3.557
773
-1.047
27.543
3.276
477
-1.789
90
-223
1.848
551
15.079
12.997
4.096
614
327
6.916
1.044
15.190
11.768
-1.138
8.297
5.585
615
715
-410
5.388
-723
1 2 .1 2 2
109
11.036
1.075
16.506
11.767
494
985
106
9.066
1.116
20
21
22
13.489
327
4.093
3.985
5.084
10.512
1.083
7
4.970
4.452
2.799
129
2.082
529
2.203
807
-1.457
3.422
-342
635
1.144
1.985
4.739
146
2.051
1.119
1.423
2.712
513
1.093
637
469
2.616
9
23
24
6 .2 0 0
1 .0 1 2
-52
1.710
686
9.506
1.829
627
577
5.139
1.334
10
314
1.085
1.207
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
1 .6 8 6
0
1
_ LOANS ELSEWHERE CLASSIFIEDS
2
MORTGAGES
3
CONSUMER CREDIT
4
SECURITY CREDIT
OPEN-MARKET PAPER
5
6
HYPOTHECATED DEPOSITS
= BANK LOANS NEC AT COML. BKS. 7
+ BANK LOANS NEC AT OTHER
BANKING SUBSECTORS:
8
DOMESTIC AFFILIATES
FOREIGN BANKING AGENCIES
9
= BANKING SECTOR TOTAL BANK
10
LOANS NEC
+ LOANS BY F.R. BANKS
11
12
= TOTAL BANK LOANS NEC
FINANCIAL
SAVINGS
FINANCE
REITS
FOREIGN
13
14
15
16
17
18
19
SECTORS
+ LOAN ASSNS.
COMPANIES
20
21
22
BANKING AGENCIES
23
24
5 FEBRUARY 1975
OTHER LOANS
OTHER LOANS
19
19
OPEN-MARKET PAPER AND OTHER LOANS
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
UNADJUSTED QUARTERLY FLOWS
1974
I
1972
| III
IV
I
II
III
OTHER LOANS —
1
2
3
4
5
13.212
8.313
904
438
-197
4.776
150
2.242
578
4.899
2.927 NET INCREASE IN LIABILITIES
NONFINANCIAL SECTORS
5.730
HOUSEHOLDS
680
FARM BUSINESS
-58
NONFARM NONCORP. BUSINESS
1.604
1.846
CORPORATE BUSINESS
STATE + LOCAL GOVERNMENTS
446
REST OF THE WORLD
1 .2 1 2
5.870
1.829
373
402
707
-795
167
975
5.685
2.454
418
569
127
782
-240
798
9.369
2.697
86 5
177
-152
126
436
1.245
7.896
4.853
821
73
1.151
1.909
-18
917
9.886
6.825
430
372
128
4.243
5.735
0
695
-878
5.535
6.657
7.168
3.549
2.736
73 5 -3.475
282
2.873
4.041
3.231
6.672
3.043
3.061
0
0
0
0
0
0
0
0
110
-224
661
-818
663
34
1.243
956
640
3.403
441
337
-140
-260
2.725
745
2.722
3.153
21
799
-330
849
2.469
55
3.292
-152
516
-595
-600
2.647
347
-1.816
1.788
3.130
491
-620
7.896
3.822
1.327
771
9.886
-1 .8 8 6
4.637
676
6.673
-104
644
489
13.212
717
736
62
-428
893
1.500
1.833
1.863
3.271
174
382
-561
534
959
885
3.866
186
698
-354
-236
1.017
123
-252
891
1.601
3.663
1.432
509
1.417
-1.195
-978
1.914
1.461
-2.613 NET ISSUES, BY TYPE + SECTOR
1 .2 2 1
1.833
8
345
3.935
9
16.987
-2
15
16
17
18
28.820
3.464
7.815
3.567
32.698
-350
2.464
4.067
376
-544
-1.863
1.321
4.272
1.711
394
654
5.870
-1.971
1.711
1.310
5.685
-1.004
2.467
276
9.369
2.617
2.310
19
8.549
-38
-768
641
2.224
3.065
301
9.305
931
1.270
-1.115
1.947
6.307
7.872
591
-13
-568
105
1.485
-98
-40
1.266
46
1.450
-583
-1.593
980
-53
1.342
38
-930
717
2.542
3.113
-78
-67
70
-553
1.271
190
3.377
-9
-469
208
471
-324
23
24
25
6.673
6.095
860
1.054
382
1.365
-160
2.594
4.272
1.399
184
-159
875
-400
255
644
7
20
21
22
III
376
94
469
-138
-397
-214
126
248
2 .0 2 2
13
14
II
SECTOR TOTALS
32.698
26.963
2.874
1.806
1.917
12.230
504
7.632
28.820
11.833
2.477
6
10
11
12
1974
1973
1 .1 0 1
10
1 .2 1 0
-22
11
68
1.584
2 .0 0 1
736
621
-1 0 1
-2.803
585
-5.358
1.032
1.382
-444
FINANCIAL SECTORS
SPONSORED CREDIT AGENCIES
COMMERCIAL BANKING
SAVINGS ♦ LOAN ASSNS.
FINANCE COMPANIES
REITS
2.927 NET INCREASE IN ASSETS
-361
HOUSEHOLDS
CORPORATE BUSINESS
-3.553
U.S. GOVERNMENT
2.281
SPONSORED CREDIT AGENCIES
MONETARY AUTHORITIES
COMMERCIAL BANKING
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
FINANCE N.E.C.
REST OF THE WORLD
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
OPEN-MARKET PAPER
4.174
7.039
1.657
7.211
400
2.144
756
1.477
-89
1.604
647
896
61
1.146
768
-150
528
568
-308
1.881
-1.005
1.665
965
946
-246
1 .039
1.465
434
-860
187
73
427
-313
853
-181
DIRECTLY-PLACED PAPER
BANK AFFILIATES
FINANCE COMPANIES
REITS
-2.813
-1.685
63
-1.140
-51
130
141
180
-151
-40
709
-596
233
219
365
-916
-1.156
155
-155
240
2.864
1.258
-42
588
1.060
1.972
2.552
199
-430
-349
-883
718
-558
-87
-956
3.054
2.691
606
64
-307
-687
-642
-311
529
-263
DEALER-PLACED PAPER
CORPORATE BUSINESS
BANK AFFILIATES
FINANCE COMPANIES
REITS
9.592
3.048
1.525
1.523
6.544
-467
49
25
24
-516
296
37
19
18
259
-39
-445
-223
378
-39
406
-19
417
933
250
125
12 5
683
722
-15
-2 0
-7
737
1.274
304
152
152
970
3.008
550
275
275
2.458
2.861
907
454
453
1.954
2.449
1.287
644
643
1.162
BANKERS* ACCEPTANCES
NONFINANCIAL BUSINESS
NONCORPORATE
CORPORATE
REST OF THE WORLD
3.291
-3.315
-621
-235
2.584
-1.087
1.774
20
2.128
-1.507
1.109
-5.045
NONBANK CREDIT TO BANKS
IN SECURITY RP•S
17
11.637
13.294
-1.442
770
1.876
1.025
4.562
4.174
7.039
1.657
7.211
-2.613 NET PURCHASES, BY SECTOR
17
18
19
3.464
7.815
5.241
2.574
-350
2.464
4.641
-2.177
-544
-1.863
-1.118
-745
1.711
394
72
322
-1.971
1.711
385
1.326
-1.004
2.467
3.136
-669
2.617
2.310
654
1.656
3.822
1.327
1.066
261
-1 .8 8 6
4.637
2.677
1.960
-104
644
2.320
-1.676
2 .0 0 1
-361
-3.553
-158
-3.395
HOUSEHOLDS
CORPORATE BUSINESS
COMMERCIAL PAPER
SECURITY RP1S
18
19
-38
-768
641
-76
717
931
1.270
-1.115
23
-1.138
-13
-568
105
-19
124
46
1.450
-583
-26
-557
38
-930
717
-541
1.258
-78
-67
70
488
-418
-9
-469
208
90
118
11
698
-354
-113
-241
62
-428
893
725
168
174
382
-561
-730
169
509
1.417
-1.195
455
-1.650
MONETARY AUTHORITIES
COMMERCIAL BANKING
MUTUAL SAVINGS BANKS
COMMERCIAL PAPER
SECURITY RP *S
22
23
24
25
26
27
28
29
23
199
301
-754
2.976
7.872
1.235
246
-40
-1.818
-377
-53
2.256
45
-942
389
190
-367
294
-924
-529
123
1.161
737
1.863
-249
486
885
968
3.663
-1.676
785
1.461
LIFE INSURANCE COMPANIES
INVESTMENT COMPANIES
REST OF THE WORLD
27
28
29
633
-960
1.593
1
11.637
13.294
-1.442
2
5.462
1.863
4.104
-505
3.561
2.501
2.660
-1.600
-575
164
-1.037
298
890
-176
381
-555
1.240
3.456
5.319
-64
76
-1.875
221
13
14
15
1.994
-249
-126
-123
2.243
16
3
4
5
6
7
8
9
10
11
12
20
21
22
1.625
114
1.111
-2 2 2
10
110
180
148
271
-22
-8
736
-198
934
186
-1 0 1
-252
-427
175
10
670
-2
11
12
13
14
15
16
20
21
23
24
25
26
OTHER TYPES
1
2 .8 6 6
3
870
1.996
2
3.331
-994
4.325
-344
-650
306
1.357
775
582
1.056
92
964
882
265
617
-618
-472
-146
1**546
985
561
1.096
-529
1.625
473
118
355
1.312
653
-42
-54
-47
156
255
1.308
85
98
241
148
167
274
27
1.198
15
-34
182
37
436
762
124
44
335
97
-18
674
89
25
-36
487
75
118
301
17
-160
9
3.542
251
119
810
325
345
10
11
1.692
4.059
165
156
388
1.063
504
695
1.088
4
5
6
7
8
0
210
41
119
52
126
11
52
43
-240
619
21
-1 2
23
39
150
0
0
0
0
0
0
-8 6
68
0
0
110
764
385
569
381
562
180
614
136
288
1.129 FINANCE CO. LOANS TO BUSINESS
LIAB.-NONCORPORATE BUSINESS
377
CORPORATE BUSINESS
752
2.279 U.S. GOVERNMENT LOANS
-2 0
LIAB.-HOUSEHOLDS
FARM BUSINESS
25
NONFARM NONCORP. BUS.
100
CORPORATE BUSINESS
8
1.093
446
S. + L. GOVERNMENTS
9
585
SPONS. CREDIT AGENCIES 10
REST OF THE WORLD
11
50
12
8.549
9.305
591
1.266
1.342
3.113
3.377
717
736
3.271
3.866
1.432
13
14
15
1 .1 0 2
-179
109
661
-105
128
1.243
304
597
441
558
-170
2.725
211
279
7.168
1.650
998
6.657
29
-161
849
347
541
-152
936
-312
2.647
450
286
3.130
-83
483
1.032
16
17
18
2.226
25
2.709
288
785
883
2
12
697
9
341
2
2
2
225
286
389
838
688
2
2.701
259
9
250
226
2 .2 0 1
339
783
881
698
19
0
0
0
0
0
0
0
0
0
0
0
0
8
1
391
13
3.153
850
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
LIABILITY OFFARM BUSINESS (FICB)
13
NONFARM NONCORP. BUS. (BC) 14
S+L ASSOCIATIONS (FHLB)
15
700 POLICY LOANS (HH LIABILITY)
ASSET-U.S. GOVERNMENT
2
LIFE INSURANCE COS.
HYPOTHECATED DEP. (HH LIAB.)
ASSET-COMMERCIAL BANKS
16
17
18
5 FEBRUARY 1975
SECURITY CREDIT, TRADE CREDIT, AND TAXES
SECURITY CREDIT, TRADE CREDIT, AND TAXES
20
20
SECURITY CREDIT, TRADE CREDIT, AND TAXES PAYABLE
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1973
1974
UNADJUSTED QUARTERLY FLOWS
IV
1 III
1
I
II
III
IV
1
I
II
III
IV
SECURITY CREDIT
1
2
-8.195
-4.570
-181
-5.594
-2.416
-31
483
620
-3
4.234
295
60
-5.667
-984
-48
-2.295
-1.338
-2.006
-1.014
-1 2 1
12
1.773
-1.234
-24
-3.729
197
-4
631
-244
16
-2.904
-2.438
-62
4 -3.444
5 -2.769
-436
6
-239
7
-3.147
-2.574
-301
-272
-134
57
-4.635
-4.069
-335
-231
-836
-354
-160
-322
-1.004
-937
-224
157
3.031
2.591
283
157
-3.922
-3.468
-308
-146
859
1 .1 2 2
-1 0
-404
-460
-191
3.879
3.447
87
345
8
10
-8.195
-206
-3.396
-5.594
-214
-3.649
483
-165
302
4.234
265
3.768
-5.667
-175
-4.316
-2.295
-328
-341
-2.006
183
-1.443
1.773
114
2.704
-3.729
-197
-4.031
631 -2.904
92
■V223
1J\284 -1.244
11
12
-4.560
-33
-1.673
-58
372
-26
121
- 1 .1 2 0
-56
-1.632
80
-720
-26
-1.088
43
448
51
-400
-30
-1.696
-56
1
2
23.748
607
1.462
-994
27.521
582
1.511
-1.063
6.855
164
378
2.408
4.554
157
369
-7.268
458
152
365
2.124
9.125
152
366
1.975
8.520
152
366
2.700
5.645
151
365
-7.793
6.239
149
366
2.722
10.983
146
369
2.463
8.413
145
392
2.706
19.594
1.086
116
1.877
22.440
929
486
2.636
3.603
174
107
10.162
207
459
468
-2.424
245
-158
154
6.497
286
-336
185
4.359
292
1.400
2 40
-306
6.889
1 .6 6 8
177
717
4.621
246
152
151
9.530
539
11.162
263
498
999
30.167
27.720
993
550
904
6.353
-173
345
159
4.738
4.857
-660
268
273
4.642
4.183
13
25.998
24.080
274
658
986
208
141
7.750
7.290
330
164
-34
8.162
7.545
-95
142
570
5.444
5.062
-71
144
309
10.871
10.123
209
141
398
11.181
10.390
225
138
428
6.855
6.367
334
137
17
1.260 NET CHANGE IN ASSETS
840
CORPORATE BUSINESS
225
U.S. GOVERNMENT
134
OTHER INSURANCE COMPANIES
61
FOREIGN
14
-2.250
-2.646
502
-184
-4.184
1.375
358
201
-4.632
-198
1.558
906
895
19
-2.676
-2.060
39
-300
-14
-215
-32
-36
-58
3.510
3.174
24
165
25
76
2.254
153
-3.940
151
-4.091
4.258
155
4.103
1.264
-748
-1.351
-742
-609
-1.502
-867
-635
3
9
0
6
-2 53
20
36
408 NET CHANGE IN LIABILITIES
69
HOUSEHOLDS
19
FOREIGN
320
232
-3
91
BROKERS + DEALERS
FROM COMMERCIAL BANKS
FROM FOREIGN BANKING AGS.
CUSTOMER CREDIT BALANCES
408 NET CHANGE IN ASSETS
114
HOUSEHOLDS
342
COMMERCIAL BANKING
10
-25
-23
11
12
BROKERS + DEALERS
FOREIGN
9
TRADE CREDIT
3
4
5
6
7
8
9
10
11
12
21
6 .0 2 2
110
112
222
1 .8 8 6 NET CHANGE IN LIABILITIES
142
384
-8.954
221
463
100
HOUSEHOLDS
FARM BUSINESS
NONFARM NONCORP. BUSINESS
(PAYABLES LESS RECEIVABLES)
CORPORATE BUSINESS
STATE ♦ LOCAL GOVERNMENTS
U.S. GOVERNMENT
FOREIGN
5
6
7
8
9
10
11
12
13
626 DISCREPANCY
PROFIT TAXES PAYABLE
1
2
9
-1 2
76
-108
28
29
14
3.367
2.717
49
275
61
182
26
42
15
10
11
12
2.761
598
2.163
4.512
613
3.899
1.575
97
1.478
2.323
139
2.184
2.693
155
2.538
13
-1 0 2
387
-549
-1.171
674
3
4
5
6
7
8
2.659
2.323
123
85
36
36
13
55
4.899
4.660
78
125
60
1.152
974
126
-1 2
20
1.026
781
-91
130
15
96
47
20
0
12
-24
21
40
21
12
-3
2.927
2.358
36
260
31
177
35
43
-13
-4.476
147
-4.623
2.449
145
2.304
2.095
151
1.944
2 .1 0 1
1.140
-727
-1.189
-3.336
-2.698
9
-290
-34
-207
-32
-48
-36
1.722
1.409
46
100
6
87
22
0
3
-26
-3
673
21
39
-14
1.138 NET CHANGE IN TAXES PAYABLE
1.188
CORPORATE BUSINESS
-2 1
MONETARY AUTHORITIES
0
COMMERCIAL BANKS
18
SAVINGS + LOAN ASSOCIATIONS
LIFE INSURANCE COMPANIES
-50
-4
OTHER INSURANCE COMPANIES
30
FINANCE COMPANIES
-23
BROKERS + DEALERS
1.940 NET CHANGE IN TAXES RECEIVABLE 10
154
STATE + LOCAL GOVERNMENTS
11
1.786
U.S. GOVERNMENT
12
-802 DISCREPANCY
PROPRIETORS1 EQUITY IN NONCORPORATE BUSINESS
1
2
3
-4.434
-4.167
-267
-4.545
-2.368
-2.177
-1.765
-1.098
-667
-1.896
-1.244
-652
-1.763
-1.044
-719
-1.496
-1.066
-430
-1.015
-1.059
44
-160
-998
838
69
-2 2 1
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
290
-1.761 TOTAL HOUSEHOLD INVESTMENT
-538 FARM BUSINESS
-1.223 NONFARM NONCORPORATE BUSINESS
5 FEBRUARY 1975
MISCELLANEOUS I
MISCELLANEOUS I
21
21
MISCELLANEOUS FINANCIAL CLAIMS
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
I
1
2
3
4
5
6
7
8
9
10
11
12
UNADJUSTED QUARTERLY FLOWS
1972
I
1973
16.834
99
1.281
-42
9.699
99
1.677
45
5.473
10.903
1.015
-304
8.441
5.182
-74
255
1.728
3.102
4.542
60
26
2.065
-2.775
448
-1.884
-2.081
-825
-515
734
805
624
-25
198
954
17
93
987
955
299
400
714
978
-910
-338
IV
6.928
98
588
54
11.465
93
351
233
6.015
98
712
181
3.096
108
-156
2.024
7.087
261
324
3.549
6.070
251
-64
3.854
11.259
447
245
8.340
3.392
-280
-403
564
1.239
1.155
260
752
786
51
366
810
802
494
485
440
808
36.685
400
2.537
-363
37.266
402
2.908
871
6.304
148
158
-295
4.194
127
224
328
12.277
27.808
2.169
760
17.471
17.852
1.449
-2.060
11.527
5.061
-31
-257
2.750
875
596
2.736
3.201
30
130
2.909
3.867
461
178
700
1.260
IV
1
I
111
886
-831
IV
III
III
1974
1974
II
II
1973
1 III
I
1
1 .2 1 0
I
102
102
-50
-636
5.260 NET CHANGE IN LIABILITIES
HOUSEHOLDS
102
0
CORPORATE BUSINESS
U.S. GOVERNMENT
1.504
1 .0 1 0
980
TOTAL FINANCE
SPONSORED CREDIT AGENCIES
MONETARY AUTHORITIES
COMMERCIAL BANKING
SAVINGS + LOAN
MUTUAL SAVINGS
LIFE INSURANCE
NONLIFE INSUR.
REITS
ASSNS.
BANKS
COMPANIES
COMPANIES
1
2
3
4
5
6
7
8
9
10
11
12
13
0
0
0
0
0
0
0
0
0
0
0
0
14
6.303
15.233
1.232
419
4.495
118
58
1.632
4.593
2.696
1.515
6.429
REST OF THE WORLD
14
15
16
17
18
19
32.357
1.497
715
991
7.852
957
38.775
2.248
760
1.014
6.329
142
5.189
675
155
257
2.432
33
3.346
722
194
248
-679
84
9.655
323
165
249
3.836
107
10.085
379
195
251
1.858
108
6.594
402
188
247
748
-27
6.023
393
167
244
1.410
769
14.354
541
158
250
2.049
178
10.311
553
230
264
1.621
-361
5.694
572
192
247
1.757
45
8.416 NET CHANGE IN ASSETS
582
HOUSEHOLDS
180
FARM BUSINESS
NONFARM NONCORP. BUSINESS
253
CORPORATE BUSINESS
902
U.S. GOVERNMENT
280
15
16
17
18
19
23
7.239
18.295
-581
15.026
1.563
-28
2 .0 0 2
858
-332
527
4.438
-106
3.864
3.859
346
1.933
2.716
577
1.840
1.757
849
-398
7.356
-69
6.136
4.309
-414
3.399
1.777
435
1.006
4.853
-533
4.485
24
25
26
27
28
1.504
281
917
55
1.108
1.789
271
926
1.159
-295
-537
-94
258
-72
34
-247
401
246
229
34
297
-162
236
18
291
653
422
228
-69
346
-161
-118
224
153
201
715
139
229
-47
270
915
-244
230
478
-90
551
398
230
170
-25
55
-27
233
241
-166
268
144
233
270
-14
9.987
74
1.919
537
3.435
2.320
1.283
3.822
3.695
1.104
4.871
-8
2.480
-612
-2 2 1
20
21
22
29
30
12.770
1 .6 6 6
7.575
4.328
-1.509
1.115
848
2.622
-3.157
1.366
13
20
21
22
TOTAL FINANCE
SPONSORED CREDIT AGENCIES
COMMERCIAL BANKING
23
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
LITE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
REITS
24
25
26
27
28
REST OF THE WORLD
-3.156 UNALLOCATED, NET
29
30
(A) FOREIGN CLAIMS
31
32
33
1.063
350
713
3.245
2.247
998
998
588
410
-814
-623
-191
-277
-279
2
693
394
299
460
205
255
187
30
157
2.681
1.197
1.484
148
415
-267
585
-444
1.029
34
3.649
4.915
726
-258
2.061
669
313
606
1.245
1.420
1.750
35
36
37
38
39
40
41
2.537
348
4.798
2.568
609
175
1.446
2.908
158
646
2.520
-2 0 0
-504
605
2.619
47
1.727
1.198
-14
-14
557
224
115
-271
-882
-31
151
491
351
77
2.904
1.349
30
1.147
378
588
81
412
783
27
-1.148
750
886
2
-78
36
-29
-61
-24
712
1.281
188
1.560
400
581
237
342
114
2.370
400
64
1.873
33
1.677
233
-701
-2 0 0
-594
-1.516
1.609
-50
83
-1.056
-400
-38
-1 0
-608
COMMERCIAL BANK LIABILITY
TO FOREIGN AFFILIATES
-169
ASSET-REST OF THE WORLD
1.079
LIAB.-COMMERCIAL BANKS
-1.248
FOREIGN BANKING AGS.
31
32
33
DIRECT FOREIGN INVESTMENT
BY U.S. CORPORATIONS
LIAB.—REST OF THE WORLD
34
DIRECT FOREIGN INVESTMENT
IN U.S.
0
LIAB.-CORPORATE BUSINESS
35
U.S. GOVT. EQ. IN IBRD, ETC.
216
LIAB.-REST OF THE WORLD
36
500
1.907
0
64
258
1.585
FOREIGN CURR. EXCEPT OFFICIAL
LIAB.-REST OF THE WORLD
ASSET-CORPORATE BUSINESS
U.S. GOVERNMENT
COMMERCIAL BANKS
FOREIGN BANKING AGS.
37
38
39
40
41
(B) U. S. GOVERNMENT CLAIMS
42
0
0
0
0
0
0
0
0
0
0
0
43
197
739
-302
104
-257
162
-275
567
282
131
2
44
45
565
750
19
80
218
135
144
0
0
0
0
0
0
211
0
221
0
188
0
68
0
46
47
48
49
160
188
43
17
502
5
49
57
28
2
0
51
5
48
4
4
27
6
5
33
17
7
3
184
88
22
4
24
5
3
186
4
107
130
20
19
366
8
8
5
65
82
2
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
0
6
POSTAL SAVINGS DEPOSITS
(LIAB.-U.S. GOVT.)
0
ASSET-HOUSEHOLDS
DEPOSITS AT FHLB
(ASSET-S+L ASSOCIATIONS)
324
LIAB.-SPONSORED CREDIT AGS.
130 EQ. IN U.S. GOVT. CREDIT AGS.
U.S. GOVERNMENT
0
PRIVATE
35
FARM BUSINESS (FICB + FLB)
10
NONFARM NONCORPORATE (BC)
4
CORPORATE BUSINESS (FNMA)
81
S+L ASSOCIATIONS (FHLB)
42
43
44
45
46
47
48
49
5 FEBRUARY 1975
MISCELLANEOUS II
MISCELLANEOUS II
22
MISCELLANEOUS FINANCIAL CLAIMS (CONTINUED)
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1974
UNADJUSTED QUARTERLY FLOWS
I
1972
| III
IV
|
|
1973
II
1974
III
II
III
(C) LIFE INSURANCE CLAIMS
1
400
402
148
127
111
98
93
98
99
99
102
DEFERRED AND UNPAID PREMIUMS
(ASSET-LIFE INSURANCE)
102
LIAB.-HOUSEHOLDS
1
2
3
4
2
3
4
1.438
563
875
1.521
609
912
324
114
210
333
123
210
345
132
213
359
141
218
366
145
221
368
145
223
372
147
225
379
152
227
382
153
229
LIFE COMPANY RESERVES
(ASSET-HOUSEHOLDS)
388
LIAB.-LIFE INSURANCE COS.
157
ACCIDENT AND HEALTH
231
POLICY DIVIDEND ACCUM.
5
9
3.201
59
555
971
1.616
3.867
727
572
971
1.597
1.260
351
150
255
504
1.239
389
145
248
457
786
-22
141
244
423
802
20
138
243
401
808
36
137
242
393
805
25
139
242
399
954
169
141
243
401
955
174
142
242
397
978
190
144
243
401
980
194
145
243
398
10
4.328
-1.509
1.115
848
2.622
-3.157
4.871
-8
2.480
-612
-2 2 1
3.315
5.958
2.929
8.746
856
7.225
5.137
2.509
(D) NONLIFE INSURANCE CLAIMS
6
7
8
LIAB.-OTHER INSURANCE
ASSET-HOUSEHOLDS
FARM BUSINESS
NONFARM NONCORP. BUS.
CORPORATE BUSINESS
5
6
7
8
9
(E) UNALLOCATED ASSETS + LIAB.
11
12
18.489
0
0
0
0
0
0
0
0
0
-363
1.407
760
15.753
1.723
-852
-40
-2.060
1.199
13
14
15
-295
252
-257
328
-76
-156
233
300
324
54
-46
-64
-831
578
245
181
575
255
-42
522
-304
45
-426
-636
-130
26
16
17
16
19
5.029
3.960
-952
1.548
473
5.717
8.578
-1.706
-1.109
-46
2.284
2.088
-569
424
341
1.980
2.647
-46
-963
342
2.496
275
511
42
1.429
2.025
-807
337
-126
-157
312
-415
-363
309
1.261
-45
-5
1.063
248
2.782
3.828
-652
-353
-41
2.390
3.553
-530
-589
-44
11.379
1.400
10.312
333
2.565
412
1.682
-471
-532
-496
245
281
858
3.059
-1.696
505
1.330
-2.259
3.203
-386
1.732
-710
2.730
288
8.037
1.650
6.280
-107
280
2.719
-1.901
538
2.978
821
1.411
-746
564
-1.452
2.066
50
875
596
1.298
30
130
1.388
461
178
376
-280
-403
231
1.155
260
407
51
366
451
494
485
74
-825
-515
366
624
-25
-174
17
93
608
20
21
22
23
24
25
26
27
28
29
0
1 .6 6 8
102
159
-3.156 NET TOTAL (LIAB. LESS ASSETS)
882
1.723
-219
-6
-1.884
82
COMMERCIAL BANKING
16
17
COMMERCIAL BANKS
18
BANK AFFILIATES
FOREIGN BANKING AGENCIES
BANKS IN U.S. POSS.
1.321
-651
1.026
-946
-2.298
1.694
-2.821
1.171
FLOATS IN COML. BANK STMNT
ON INTERBANK DEPOSITS
22
ON INTERBANK LOANS
23
LESS: ON MEMBER BK. RES. 24
299
400
332
-910
-338
622
-624
-2 2 0
0
0
0
0
0
0
0
0
0
0
0
0
7.152
-1.268
833
-547
-1.044
-179
-722
864
1.744
738
3.806
30
31
32
33
34
14.161
4.722
818
78
17.262
-581
11.488
284
30
84
-28
1.481
-96
74
2.467
-332
62
-431
254
3.336
-106
1.288
933
118
6.086
346
1.532
849
-50
3.875
577
2.095
-206
36
864
849
-193
-758
-26
4.745
-69
2.372
1.802
56
5.749
-414
2.471
882
-47
2.730
435
3.515
-1.931
40
4.038
-533
3.130
-469
-19
35
36
37
38
39
40
941
281
517
55
1.108
3.975
548
271
524
1.159
-295
3.834
-243
-94
-378
401
119
229
34
2.509
368
-162
12 5
18
291
463
426
422
130
-69
346
2.154
32
-118
131
153
115
139
131
-47
270
384
449
-244
131
478
-90
-140
313
398
131
170
-25
1.870
-77
-27
131
241
-166
569
-137
144
131
270
-14
1.535
110
-72
34
-1.082
201
974
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
11
12
13
14
386
76
300
53
-43
1 .1 2 1
-2.492
1 .6 6 6
NET CHANGE IN LIABILITIES
U.S. GOVERNMENT
U.S. GOVT.—WITHOUT LEVELS
SPONSORED CREDIT AGENCIES
MONETARY AUTHORITIES
SAVINGS + LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE
REITS
REST OF THE WORLD
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
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
5 FEBRUARY 1975
TOTAL CLAIMS
TOTAL CLAIMS
23
23
TOTAL FINANCIAL ASSETS AND LIABILITIES
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
UNADJUSTED QUARTERLY FLOWS
1974
I
1972
I III
1974
1973
IV
I
II
II
III
III
TOTAL FUNDS RAISED AND ADVANCED IN CREDIT MARKETS (1)
1 239.364 216.683
45.731
73.251
56.828
61.288
60.396
60.652
39.287
65.987
58.116
2 187.365 175.706
39.374
5.738
590
33.046
14.386
587
2.331
12.107
3.635
63.424
12.937
1.728
48.759
24.523
899
3.820
16.434
3.083
45.257
8.853
1.999
34.405
11.900
2.086
1.608
16.241
2.570
45.707
-5.994
2.040
49.661
20.572
2.833
3.161
20.627
2.468
43.312
-457
726
43.043
19 .46 3
2.070
2.265
15.311
3.934
53.089
7.312
2.763
43.014
20.880
1.628
2.248
14.972
3.286
33.662
3.389
3.717
26.556
3.682
1.636
-561
18.130
3.669
52.360
-6.187
6.244
52.303
15.520
3.153
3.261
25.946
4.423
41.620
4.497
1.603
35.520
11.303
1.766
1.842
16.863
3.746
48.064
11.269
3.952
32.843
12.039
834
2.186
13.808
3.976
53.293 TOTAL FUNDS RAISED IN CREDIT
MARKETS BY:
NONFINANCIAL SECTORS
U.S. GOVERNMENT
FOREIGN
PRIVATE DOMESTIC
HOUSEHOLDS
FARM BUSINESS
NONFARM NONCORP. BUS.
CORPORATE BUSINESS
S. + L. GOVERNMENTS
9
10
6.357
1.083
-319
397
1.710
1.027
107
1.497
11.571
2.684
3.016
819
1.985
200
109
1.378
1.722
-342
15.581
5.874
-727
827
1.423
3.315
111
3.466
1.934
-642
17.084
7.043
2.461
948
469
2.976
114
1.321
1.624
128
7.763
3.988
-235
-350
1.207
-529
118
3.254
1.040
-730
5.625
1.796
2.443
1.164
-345
-662
13.627
6.447
-1.147
907
-247
9.827
1.592
554
269
-1.457
1.887
115
4.959
1.927
-19
5.229
4.456
-4.545
-313
2.476
-330
83
2.176
7
1.219
11
12
13
14
15
16
17
18
19
20
45.731
73.251
56.828
61.288
60.396
1.871
33.103
22.840 2.555
959
-77
5.409 -1.672
3.895
1.065
5.474
-844
1.055
4.507
756
1.436
1.542
77
309
-492
7.062
4.523
181
3.392
-1.034
16.177
15.310
-99
291
675
468
904
-507
1.982
9.714 12.968
3
7.528 15.516
4
5 170.123 147.222
6 72.815 42.544
7.389
7
8.617
8
6.728
9.282
9 67.151 74.747
10 12.258 15.814
11
12
13
14
15
16
17
18
19
20
51.999
19.589
4.515
2.244
5.084
5.962
452
9.419
6.320
-1.586
40.977
21.641
- 1.100
2.437
4.452
6.277
371
3.816
1.510
1.573
21 239.364 216.683
22
23
24
25
26
31.115
21.540
1.264
7.872
439
27
2.982
5.922
28 201.771 164.459
29 20.255 24.018
30
9.227
6.150
1 .1 0 2
1.390
37.000
1.136
-2.457
4.188
16.496
8.942
2.149
679
635
3.081
100
100
88
18
930
181
1.533
485
-572
745
60.852
39.287
65.987
58.116
6.440
165
1.105
3.880
1.290
9.010
4.961
-160
2.411
1.798
2.086
1.951
176
1.923
-1.964
19.182
17.458
603
391
707
1.302
1 .6 8 6
89
88
66
461
1.197
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.
53.293 TOTAL FUNDS ADVANCED IN CREDIT
MARKETS BY:
2.825 PRIVATE DOM. NONFIN. SECTORS
-1.530
HOUSEHOLDS
877
NONFARM NONCORP. BUSINESS
614
CORPORAT€ BUSINESS
2.864
STATE ♦ LOCAL GOVERNMENTS
3.522
U.S. GOVERNMENT
66.210 45.339 57.165 42.984 56.283 28.070 59.196 34.601 42.592
2.034
3.113
5.859
6.987
4.296
3.002
6.915
8.654
5.447
1.258
4.001
1.200
489
3.537
-257
3.610
1.461
1.336
9.607 28.344
8.392 25.671
604
468
589
2.082
22
123
1
2
3
4
5
6
7
8
21
22
23
24
25
26
27
FINANCIAL INSTITUTIONS
28
SPONSORED CREDIT AGENCIES 29
FEDERAL RESERVE SYSTEM
30
31
32
33
34
35
86.656
80.895
1.702
3.950
109
61.807
55.026
916
5.488
377
14.191 33.269 15.124 26.001 17.553 27.978
13.073 32.703 13.178 25.178 15.548 26.991
-32
334
563
359
1.117
-337
936
151
1.464
546
753
1.187
214
81
-81
-82
135
137
6.671 17.185
6.299 14.664
-143
-13
418
2.399
97
135
36
37
38
39
85.633
27.133
5.372
2.937
72.484
21.356
3.742
2.713
24.130
9.950
2.501
851
29.649
8.987
1.410
621
23.101
10.584
3.155
440
24.105
8.927
1.538
1.079
17.955
4.694
496
967
20.472
2.928
183
451
15.718
7.714
2.884
-4
20.327
6.793
129
1.003
17.815
3.514
141
1.193
18.624
3.335
588
521
40
41
42
43
15.610
7.243
9.247
4.971
15.792
8.707
11.736
4.071
3.737
1.386
1.807
1.792
2.709
2.422
2.056
1.839
4.921
1.969
2.605
1.378
2.905
1.115
2.362
1.206
3.794
1.827
2.296
1.190
3.990
2.332
1.984
1.197
3.947
1.312
2.209
1.277
4.642
1.523
2.758
1.014
3.669
2.729
3.253
749
3.534
3.143
3.516
1.031
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S. + L. GOVT., RTR. FUND
OTHER INSURANCE COS.
40
41
42
43
44
45
46
47
10.136
4.480
-2.516
1.020
3.817
1.015
1.387
-1.852
2.006
816
-264
-452
4.942
1.565
-689
3.787
1.560
1.140
-1.155
-3.496
3.598
1.263
-626
738
1.573
1.337
81
-300
3.405
740
-816
4.078
194
680
-57
-4.438
1.571
294
-493
1.093
413
23
900
1.231
1.639
18
1.037
262
FINANCE COMPANIES
REITS
OPEN-END INVESTMENT COS.
SECURITY BKRS. + DEALERS
44
45
46
47
3.496
13.199
5.470
1.099
9.149
-2.432
-747
-2.474
1.816
3.998
3.031
4.354
53.293
COMMERCIAL BANKING
31
COMMERCIAL BANKS
32
BANK AFFILIATES
33
FOREIGN BANKING AGENCIES 34
BANKS IN U.S. POSS.
35
PRIVATE NONBANK FINANCE
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
CREDIT UNIONS
REST OF THE WORLD
36
37
38
39
48
TOTAL CLAIMS AND THEIR RELATION TO TOTAL FINANCIAL ASSETS
1 239.364 216.682
73.251
56.828
61.288
60.396
60.852
39.287
65.987
58.116
-2 2 0
88
-8
13
64
15
77
210
193
82
329
97
881
103
47.162 21.087
36.602
8.628
25.462 -10.948
11.140 19.576
10.560 12.459
30.884
22.093
10.879
11.214
8.791
5.907
5.966
-8.820
14.786
-59
37.136 10.979
30.209
-484
24.851 -15.114
5.358 14.630
6.927 11.463
35.081
30.580
12.258
18.322
4.501
1.705
2.802
-7.962
10.764
-1.097
35.686
28.565
16.859
11.706
7.121
DEPOSITS AT FINANCIAL INSTS.
BANKING SYSTEM
DEMAND DEP. ♦ CURRENCY
TIME + SAVINGS DEPOSITS
SAVINGS INSTITUTIONS
INSURANCE + PENSION RESERVES
2
-2 0 0
-6 6
422
1.262
427
-119
3
111
96
4
5
8
95.014
66.896
15.962
50.934
28.118
83.451
61.463
6.041
55.422
21.988
20.193
10.147
-509
10.656
10.046
9
6
7
TOTAL FUNDS RAISED (FROM
PRECEDING TABLE)
OTHER LIABILITIES:
-158
OFFICIAL FOREIGN EXCHANGE
145
TREASURY CURR. + SDR CTFS.
45.731
31.636
38.748
6.716
8.955
7.453
9.130
7.687
7.366
6.396
12.824
9.015
10.513
-8.195
23.748
2.659
13 -4.434
14 36.685
-5.594
27.521
4.899
-4.545
37.266
483
6.855
1.026
-1.765
6.304
4.234
4.554
1.152
-1.896
4.194
-5.667
458
3.367
-1.763
12.277
-2.295
9.125
-3.336
-1.496
6.928
-2.006
8.520
1.722
-1.015
11.465
1.773
5.645
906
-160
6.015
-3.729
6.239
2.927
69
16.834
631
10.983
-2.676
-1.351
9.699
-2.904
8.413
3.510
-1.502
5.473
408
15
-1.086
3.208
-3.414
3.780
-713
8.856
-4.059
1.796
8.046
10
11
12
7.864
16 424.563 399.032
97.688 109.700 101.609 115.566
81.090 139.650
86.564
560
-1.271
-4.184
-490
2.661
1.375
60
-3.286
358
209
1.989
164
-1.764
-4.632
-796
3.468
-198
509
-3.456
1.558
-2 1
84
1.140
-3.157
0
-727
4.871
-44
-1.189
25
673
2.480
-54
1.2 64
-612
-2 2 1
84.144 136.578
88.927
339
93
-2.250
-258
1.814
-2.646
530
-1.744
502
-27
3.563
-184
20
21
22
19
4.328
-69
387
-1.509
-19
-549
1.115
-1.171
848
-1 0 2
23 422.136 401.313
-2 1
88.908 135.214
674
2.622
201
-8
99.308 108.087 100.333 114.408
1.138
-1.761
5.260
3.754 -14.682
88.743 138.222
17
18
19
1 .8 8 6
-5
-748
SECURITY CREDIT
10
TRADE DEBT
11
PROFIT TAXES PAYABLE
12
NONCORP. PROPRIETORS* EQUITY
MISCELLANEOUS
INTERBANK CLAIMS
91.728 TOTAL LIABILITIES ABOVE
- FLOATS NOT INCL. IN ASSETS
-135
DEMAND DEPOSITS—U.S. GOVT.
3.566
OTHER
626
TRADE CREDIT
- LIABILITIES NOT ALLOCATED
AS ASSETS
20
-35
TREASURY CURRENCY
-802
TAXES PAYABLE
21
-3.156
MISCELLANEOUS
22
91.664
TOTALS ALLOCATED TO SECTORS
AS ASSETS
(1) INCLUDES CORPORATE EQUITIES.
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
SAVINGLY INDIVIDUALS
24
SAVING BY INDIVIDUALS
AMOUNT AND COMPOSITION OF INDIVIDUALS* SAVING 111
(MILLIONS OF DOLLARS)
UNADJUSTED QUARTERLY FLOWS
1973
1974
4
5
6
7
8
67.673
21.046
2.700
6.521
11.139
4.335
IV
I
I
1973
I
II
III
IV
I
|
1974
I
II
III
1
2
59.147
31.078
1.560
19.402
40.095
14.242
15.258
26.002
-7.084
23.452
38.551
5.709
18.511
36.622
46
12.658
36.989
14.383
13.052
25.979
-7.906
21.936
37.076
5.898
15.403
31.508
-3.255
7.121
34.707 INCREASE IN FINANCIAL ASSETS
DEMAND DEPOSITS + CURRENCY
9.031
SAVINGS ACCOUNTS
14.687
22.048
3.034
447
*.477
11.737
2.553
772
-136
766
72
-137
879
782
562
244
2.403
891
539
2.471
14.925
441
5.191
4.551
2.300
-238
457
302
900
258
5.331
780
4.044
-960
1.326
1.672
822
-3.246
4.001
2.290
17.236
611
3.801
6.614
5.149
-2.191
821
-4.152
-178
2.972
SECURITIES
U.S. SAVINGS BONDS
OTHER U.S. TREASURY SEC.
U.S. GOVT. AGENCY SEC.
STATE + LOCAL OBLIGATIONS
4
5
1.001
3.956
911
489
3.217
776
-386
1.711
-19
-3.910
337
-1.971
-342
-523
501
-1.004
-642
-292
14
2.617
128
-317
207
3.822
-730
-5.454
1.114
-901
2 .0 0 1
745
-784
-2.603
-361
1.219
91
CORPORATE ♦ FOREIGN BONDS
COMMERCIAL PAPER
INVESTMENT COMPANY SHARES
OTHER CORPORATE EQUITIES
9
-1 .8 8 6
181
732
-645
-104
-572
-874
10
11
12
1.824
1.266
1.229
4.811
1.245
1.840
1.305
2.410
2.132
1.306
1.795
1.349
1.916
2.306
2.426
1.768
773
2.056
1.799
222
1.857
1.930
2.302
6.735
1.279
1.809
1.432
3.289
2.485
1.391
1.772
1.546
3.445
3.750
2.667
PRIVATE LIFE INSURANCE RES.
PRIVATE INSURED PENSION RES.
PRIVATE NONINSURED PEN. RES.
GOVT. INSURANCE ♦ PEN. RES.
MISCELLANEOUS FINAN. ASSETS
13
14
15
16
17
51.828
5.968
11.915
32.900
1.025
52.097
7.960
11.317
32.395
425
54.424 GROSS INV. IN TANGIBLE ASSETS
NONFARM HOMES
10.177
NONCORP. BUS. PLANT + EQUIP.
9.051
CONSUMER DURABLES
35.151
INVENTORIES
45
20
21
22
1 138.164 129.270
3.768
2 13.054
3
UNADJUSTED QUARTERLY FLOWS
|
1972
I III
3
6
7
8
10
11
12
1.059
3.464
-1.586
—6.586
-3.035
-350
1.573
-835
1.456
-544
-247
414
13
14
15
16
17
7.209
5.150
7.737
11.540
4.755
7.206
5.681
11.092
14.769
5.559
1.630
1.558
1.489
2.039
847
1.684
1.328
2.976
2.967
1.777
1.750
1.230
2.182
2.291
18 213.148 204.842
19 37.537 32.539
20 42.813 41.266
21 130.310 127.753
2.488
3.284
22
47.528
8.690
10.583
28.884
-629
54.156
10.263
10.066
34.658
-831
49.162
9.412
9.307
29.556
887
53.671
53.030
9.239
11.776
31.646
369
57.285
10.784
11.729
33.612
228
35.496
1.004
46.493
8.414
8.983
27.307
1.789
23 143.512 147.874
24 10.358 10.629
25 29.902 32.863
26 103.252 104.382
33.005
2.531
6.784
23.690
33.904
2.559
7.004
24.341
34.720
2.560
7.090
25.070
35.937
2.631
7.432
25.874
36.341
2.574
7.552
26.215
36.514
2.593
7.828
26.093
36.657
2.614
7.976
26.067
37.012
2.695
8.180
26.137
37.025
2.654
8.308
26.063
37.180 CAPITAL CONSUMPTION ALLOWANCES
NONFARM HOMES
2 .6 6 6
NONCORP. BUS. PLANT + EQUIP.
8.399
CONSUMER DURABLES
26.115
23
24
25
26
9
-2 2 2
8 .1 0 2
1 0 .0 0 1
18
19
27
28
29
30
31
69.636
27.179
12.911
27.058
2.488
56.968
21.910
8.403
23.371
3.284
14.523
6.159
3.799
5.194
-629
20.252
7.704
3.062
10.317
-831
14.442
6.852
2.217
4.486
887
17.734
5.471
4.297
7.738
228
16.689
6.665
4.224
5.431
369
20.771
8.191
2.173
9.403
1.004
9.836
5.800
1.007
1.240
1.789
14.816
3.293
3.735
6.763
1.025
15.072
5.306
3.009
6.332
425
17.244 NET INV. IN TANGIBLE ASSETS
7.511
NONFARM HOMES
NONCORP. BUS. PLANT + EQUIP.
652
9.036
CONSUMER DURABLES
INVENTORIES
45
27
28
29
30
31
32
33
34
35
36
37
38
87.619
44.208
12.858
22.922
-4.570
2.226
9.975
55.677
32.22C
12.040
9.635
-2.416
2.709
1.489
2 1 .0 2 2
10.179
3.949
5.164
620
259
851
22.922
11.297
3.420
8.588
295
226
-904
17.362
10.554
2.145
1.756
-984
288
3.603
27.819
11.543
4.561
7.763
-1.338
391
4.899
26.095
11.681
4.355
5.952
-1.014
850
4.271
16.343
10.430
1.797
7.451
-1.234
697
-2.798
8 .290
8 .946
1 .133
-2 .914
197
341
587
24.767
9.137
4.312
5.853
-244
785
4.924
15.818
6.405
4.173
4.481
-2.438
883
2.314
6.802 INCREASE IN DEBT
MTG. DEBT ON NONFARM HOMES
7.732
NONCORP BUS. MORTGAGE DEBT
2.422
2.215
CONSUMER CREDIT
SECURITY CREDIT
69
POLICY LOANS
700
-6.336
OTHER DEBT
32
33
34
35
36
37
38
39 120.181 130.561
40 11.540 14.769
41 27.058 23.371
24.579
2.039
5.194
37.425
2.967
10.317
23.082
2.291
4.486
28.466
4.811
7.738
27. 216
2 .132
5.431
41.417
2.306
9.403
27.525
1 .799
1 .240
27.125
6.735
6.763
30.762
2.485
6.332
39
40
41
111
45
42
43
44
944
307
80.332
608
380
91.433
42
17.193
720
43
23.378
485
53
15.767
140
65
15.712
63
85
19. 505
256
104
29.348
354
95
24.037
56
95
13.476
23
95
21.827
45.149 INDIVIDUALS• SAVING (1+27-32)
3.750 - GOVT. INSURANCE ♦ PEN. RES.
9.036 - NET INVESTMENT IN CONS. DUR.
- CAPITAL GAINS DIVIDENDS
FROM INVESTMENT COMPANIES
175
95 - NET SAVING BY FARM CORPS.
=
PERSONAL
SAVING, F/F BASIS
32.093
45
74.348
76.719
14.079
18.797
16.622
15.043
19.460
23.223
20 .943
15.640
17.605
22.531 PERSONAL SAVING, NIA BASIS
46
5.984
14.714
3.114
4.581
-855
669
45
6.125
3.094
-2.164
4.222
9.562 DIFFERENCE
(1) COMBINED STATEMENT FOR HOUSEHOLDS, FARM,
AND NONFARM NONCORPORATE BUSINESS.
IV/74 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
42
43
44
46
@FedFRASER