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F /F Seas Adj
EE/72
February 6, 1973
Flow of Funds,
Seasonally Adjusted
4th Quarter, 1972
P re l i m i n a ry
Division of Research and Statistics
Board of Governors of the Federal Reserve System
Washington, B.C. 20551
TABLE LIST
SUMMARY TABLES
1 .
Income and Product Distribution
2.
Funds Raised in Credit Markets
Private Domestic Net Investment and Borrowing in
Credit Markets
3.
Credit Market Supply of Funds
SECTOR TABLES
4.
Households
5.
Total Nonfinancial Business & Noncorporate Business
6.
Nonfinancial Corporate Business
7.
Governments
8 .
Banking System
9.
Commercial Banking Subsectors
1 0 .
Nonbank Finance Summary
Savings Institutions
11.
Insurance and Pension Funds
1 2 .
Finance N.E.C.
13.
Rest of the World
TRANSACTION TABLES
14 „
Monetary and Insurance Reserves
Interbank Claims
15.
Money and Deposits
16.
Money Supply Relation to Other Data
17.
U.S. Government Securities
18.
Private Securities and Mortgages
19.
Mortgages by Type
20 .
Consumer Credit and Bank Loans N.EcC.
2 1 .
Bank Credit Relationship to Other Data
2 2 .
Other Loans, Including Open-Market Paper
23.
Security Credit, Trade Credit, and Taxes
24-25.
Miscellaneous Financial Claims
26.
Total Claims— Recapitulation by Type
27.
Saving by Individuals
28.
Discrepancies
^
®
•
♦
0
•
Seasonally Adjusted
Flow of Funds Accounts,. Fourth Quarter 1972
These tables give first estimates of the financialflow accounts for the fourth quarter and for the year 1972,
based on preliminary and incomplete information. The tables
show the accounts as seasonally adjusted annual rates. A
separate publication presents the same set of tables as
unadjusted quarterly flows. Also available are two historical
supplements giving year-total flows 1945-71, and year-end out
standing assets and liabilities 1945-71.
Requests for these publications or to be put on the
mailing list should be addressed to the Flow of Funds and
Savings Section, Room 3222, Division of Research and Statis
tics, Board of Governors of the Federal Reserve System,
Washington, D«C., 20551.
The fourth-quarter figures are based on early indi
cators and are therefore highly tentative, particularly in the
distribution of financial asset holdings among private nonfin- ‘
ancial sectors. The most important information not yet avail
able 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 pay
ments statistics, financial income-and-product data, end-ofquarter balance sheets for insurance companies, mutual savings
banks, pension funds, and investment companies, and the Treasury
survey of ownership of Federal securities.
Revisions. Data for the first three quarters of 1972
reflect several revisions in source information that have
appeared since the November publication. These include the
new money stock series published this month by the Federal
Reserve, 1969-based current assets and liabilities of corpora
tions published in December by the Securities and Exchange
Commission, and consumer credit revisions published by the
Federal Reserve in October. These revisions all include
changes for several years back, but for this publication only
the 1972 data have been used. Revisions for earlier years
will appear as part of a broader annual revision of the flow
of funds accounts to appear later this year.
Amounts outstanding. It is usually possible at this
time of year to publisn preliminary estimates of year-end assets
and liabilities outstanding.
The revisions mentioned above,
however, include sizable changes in levels of outstandings for
earlier years, and preliminary estimates for 1972 will be mis
leading until earlier years* data have also been brought into
line with the new estimates.
Timing a djustments. An important aspect of the
fourth-quarter accounts is that, as in 1971, the money supply
peaked sharply at year-end, giving a substantially larger
fourth-quarter increase than indicated by the change in monthly
averages from September to December.
This is shown on page 16,
line 6 of the top section.
* FEBRUARY 1*73
ANO PRODUCT O l S T«IBUTION
INCOME
INCOME AM* PRODUCT DISTRIBUTION
INCOME AND PRODUCT ACCOUNTS I ONP EXPENDITURES AND GROSS SAVING
(BILLIONS OF DOLLARS)
1
SEASONALLY ADJUSTED ANNUAL RATES
SEASONAiL* ADJUSTED ANNUAL RATES
1
1972 1
1971
II
IV
III
t
1
197?
I
1969
1970
1971
1
930.3
976.4
1050.4
1152.0
1023.4
1043.0
1056.9
1078.1
2
789*4
897. f
135.8
97.8
664.9
103.9
975.9
148.9
105.9
721.1
116.3
875.0
130.8
96.2
648.0
99.8
889.9
133.3
96.3
660.4
101.9
904.3
135.7
97.9
670.7
106.1
921.4
140.2
100.7
680.5
106.1
94*..5
143.7
105.7
696. 1
6
98.8
579.8
90.8
835.8
122.5
96.5
616.8
90.5
7
139.0
137.1
152.0
180.2
143.9
153.0
152.2
158.8
8
131.1
32.6
22 .)
132.2
31.2
20.4
19.6
.5
148.3
42.6
28.3
25.8
139.0
37.0
25.7
22.3
.5
146.4
41.4
27.4
25.3
.5
150.9
44.5
29.6
26.7
.7
157.1
47.3
30.3
29.2
.6
174.3
53.9
34.6
32.4
.7
1.9
.9
.9
1.5
.7
.7
3.0
1.5
1.5
1.6
.8
.8
2.2
1.1
1.1
14.3
4.3
19.3
6.3
13.0
11.3
3.4
7.9
14.0
4.1
9.7
120.4
101.9
5.3
6.9
105.0
5.7
7.1
11.3
2.3
78.6
3
4
5
9
10
11
12
111.2
22.8
•6
13
14
15
-.5
-.3
-.3
.3
16
17
18
10.6
10.8
3.3
7.3
3.2
7.6
19
98.5
5.1
5.9
100.9
5.3
6.5
10.6
2.6
10.6
2.1
74.3
25
26
27
28
29
7.8
1.8
6.7
30
31
32
1.9
55.5
53.6
3.6
62.9
59.3
66.1
33
34
35
634.4
38.2
689.5
54,8
744.4
60.9
6.0
8.0
36
37
8.1
-12.9
.7
38
39
40
41
42
.2
.2
10.0
105.8
5.6
7.3
11.5
I
168.1
177.0
183.2
192.4 GPOSS DOMESTIC INVESTMENT
172.0
52.6
34.0
32.4
175.2
54.4
35.9
33.4
.6
167.7
51.6
33.3
29.6
•6
.6
.8
182.4
56.8
35.2
34.3
.9
•6
.3
.3
3.1
1.5
1.5
1.0
1.8
.5
.5
.9
.9
15.0
4.5
10.4
17.0
5.2
18.3
5.6
12.7
18.8
5.9
12.9
18.5
5.6
12.9
21.5
106.3
5.7
7.7
109.8
5.8
7.6
116.1
119.2
6.0
6.0
7.9
8.4
11.6
2.6
11.8
12.0
1.8
12.2
120.8
6.0
8.8
12.0
2.4
90.1
2.3
91.7
125.6
6.9
9.8
12.4
2.3
94.2
8.0
.1
10.0
.2
INVENTORIES
FARM
7.9
-.3
9.7
nonfarm
91.1
4.9
3.6
5.8
.3
5.5
.5
5.0
4.9
.9
3.9
2.9
6.6
1.3
1.5
5.1
1.0
4.0
1.6
-.2
1.0
- 1.2
-4.1
73.7
77.8
4.5
66.3
61.8
•1
66.7
.4
68.5
66.6
795,0
54.7
6.9
725.7
59.3
742.9
64.1
8.2
8.2
8.6
-21.7
4,8
-18.4
12.3
-16.0
2.8
84.9
74,3
83,3
93.7
.1
-.1
,1
.2
81.3
•
4.5
12.4
67,9
4,7
14,5
55.1
5,8
16,7
60.7
5.7
17.7
70.1
16.6
59.9
43
44
45
46
40.1
34,1
37.3
41.0
36.0
.1
.1
.1
6.4
33.6
7,2
26,8
7.9
29.4
.1
8.1
.1
8.0
32.8
29,9
47
48
49
50
51
24.3
24,8
•
2.4
2.5
19,9
25.4
•
3.3
2.7
19.5
26.4
•
3.2
25,5
•
2,5
2.8
20.4
52
53
54
55
56
57
58
59
20.5
•
2.5
4.5
13.6
-5.1
2.5
10.9
15.4
20.5
•
6C
61
81.6
8.7
62
1.6
6.2
63
64
65
66
67
68
.1
.1
1.2
7.7
4.8
.1
2.4
1.3
4.8
1.1
.1
2.8
1.6
20.7
13.1
51.9
1.7
.3
49.9
-.2
2.3
4.7
8.4
-4,4
2,3
6,4
86.3
9,0
1.7
6,4
14,2
55.2
2.1
.4
52.7
.7
65.4
.4
.3
.8
.1
.1
798.5
50.6
6.3
828.4 d i s p o s a b l e p e r s o n a l i n c o m e
62.4 PERSONAL SAVING
SAVING RATE (PERCENT)
7.5
33
34
35
-23.0
5.0
-23.1
-24.7
6.2
6.0
-14.8
7.1
-21.5
14.8
- 11.8
9.4
-25.7 FEDERAL GOVT. SURPLUS
17.8 STATE 1 LOCAL GOVT. SURPLUS
36
37
84.5
•
6.3
16.4
61.7
84,1
83.2
88.2
91.6
,1
.1
.2
5,0
17,0
62,0
7.1
16.6
59.3
.?
5.3
16.5
66.3
68.2
CORPORATE PROFITS. TAXES. AND OIVlDENDSl
PROFITS - TOTAL
95.7
99.3
FARMS
.2
.2
FOREIGN
5.6
6.2
FINANCIAL CORPS.
18.5
ie.3
NONFI NAN. CORPS.
71.1
75.0
38. *
.1
7.8
30.8
37.5
,;
35.3
36.8
40.1
41.8
.1
.1
8.0
7.8
27.3
7.7
31.0
,1
8.0
25.2
•
4.1
2.5
18,5
26.0
•
3.0
29.4
-4.4
-5.8
2.8
10.2
2.2
7.3
9.0
12,6
90.2
9.3
92.4
9.}
95.0
9.4
97,4
9.5
1.8
6.6
1.8
1.8
1,8
6.7
15.3
59.4
2.5
.4
56.5
6.9
15.7
61 .£
?.£
.4
58.2
7,0
16,1
63.0
2,7
,4
59.9
5.9
2,8
2.7
20.0
•
5.7
17.5
.1
32.0
26.2
•
3.2
26,5
•
3.5
26.9
•
3.0
2.8
20.2
2.8
20.2
2,8
20.2
2.8
21.1
23.4
•
2.3
25,3
•
2,5
6,7
16,0
-5.5
2.5
13,0
27.3
•
29.0
105,3
11, c
. 1.9
7,1
17,4
6.1
99.7
9.6
1.9
7.0
16.4
64.8
2.6
.1
2.6
7.2
17.5
- 6.1
7.3
19.0
-5.9
2.6
2.6
14.0
15.7
.5
61.7
>c
64.8
104,1
9.0
1.9
7.0
i 7 .0
** .4
2.9
.5
64.9
93.5
198.9
95.3
199.4
2.6
68,0
2.6
86.4
178.9
183.1
90.0
187.4
-4.5
-.2
-3.2
-4.8
-5.5
-4.3
-4.S
-.6
2.5
44.9
13.6
43.8
15.0
46.8
13.4
45.7
13.4
44.6
13.5
42.4
14.0
43.9
15.0
43.8
15.1
43.7
15.0
71
- 6.1
-4.7
72
73
47.2
15.5
46.0
14.5
88.1
43.4
8.4
34.9
15.0
-6,5
2,3
10,9
NONCORPORATE
CORPORATE
-3.0 NET EXPORTS
EXPORTS
79.7
IMPORTS
82.7
,1
84.8
175.0
87.3
181.1
.8
9.0
6,3
33.4
94.4
198.1
80.6
167.0
25
26
27
28
29
782.6
50.2
6.4
8.2
91 .7
191.5
74.6
156.1
23
24
770.6
55.7
7.2
2.2
6.2
12.6
.5
64.3
21
22
758.5
59.3
7.8
11.8
2.8
19
28
750.4
61.0
e.i
5,8
9.8
-4,7
15.0
57.5
2.4
.4
54.8
NONRES. PLANT ♦ EQUIP,
NONPROFIT INST.(HH)
FARM
NO NFARM NONCORP. BUSINES
FINANCIAL CORPORATIONS
NONFINANCIAL CORPORATION
16
17
18
-3.4
74.4
77.8
22.7
•
3,0
6,3
13,4
-3.9
3.0
1.9
7.1
17.0
67.7
MULTI-FAMILY UNITS
CORPORATE BUSINESS
NONCORPORATE BUSINESS
-5.2
70.0
75.2
21.0
10.0
13
14
15
-4.6
70.7
75.3
-.1
2.8
103.7
CHANGE IN WORK IN
PROCESS ON NONFARM
CORPORATE
NONCORPORATE
- 2.1
63.0
65.1
20.4
1.8
6.8
FARM
66.2
-.1
2,2
93.8
9.4
13.3
9
10
11
12
.7
-.7
17,7
2.2
8.2
7
8
.7
1.1
.1
6.8
•
•
•
PVT. FIXED INVESTMENT
RESIDENTIAL CONSTRUCTION
1-4 FAMILY STRUCTURES
HOUSEHOLD PURCHASES
6
5.0
.7
4.3
.7
3.6
26.3
2.5
69
70
1.7
.9
2,8
20,1
16.9
- 6.0
2.5
13.4
15.5
60.3
2.5
.4
57.3
88.4
25.5
•
2.6
6.1
9.8
*.8
78.8
3.1
81.5
25.4
«
3.6
2 .»
19.2
11.9
-4.7
2.6
2.0
?
3
4
5
111.0
78.8
2.3
76.4
1
1006.5 CURRFNT O u t l a w s
STATE AND LOCAL GOVT.
155, ft
U. S. GOVERNMENT
104.5
746.2
households
OF WHICH CONSUMEP OUPABLES
121 .5
984.2
150.2
105.4
728.6
118.6
76.5
11.1
1195.8 t o t a l g n p
1164.0
2.8
23
24
IV
967.5
146.0
108.1
713.4
113.9
6.2
8.8
12.2
2.2
20
21
22
I 11
1139.3
11.8
1109.1
II
30
31
32
38
39
40
41
42
TAX ACCRUALS - TOTAL
FARMS
FINANCIAL CORPS.
NONFINANCIAL
43
44
45
46
DIVIDENDS - TOTAL
NET FOREIGN
FINANCIAL CORPS.
N O NFINANCIAL CORPORATIONS
47
48
49
50
SI
U N O I S T . PROFITS • TOTAL
FARMS
FOREIGN BRANCH PROFITS
FINANCIAL CORPORATIONS
NONFINANCIAL CORPORATIONS
♦ INVENTORY VAL. ADJ.
♦ BRANCH PROFITS
• NONFIN. CORPS..NET
52
S3
54
SS
56
57
58
59
farms
105.6 TOTAL CAPITAL CONSUMPTION
9.9
OW NER-OCCUPIED HOMES (MH>
NONPROFIT INST.(HH)
1.9
farm noncorporate
7.1
n o n f a r h n o n c o r p o r a t e BUS.
17.3
TCTAL CORPORATE
69.5
3.0
FINANCIAL BUSINESS
corporate farms
.5
NONFINANCIAL CORPORATIONS
65.9
MEMO I 1
CAP. CONS. ON CONSUMER DURABLES
97.1
NOT INCLUDED ABOVE
202.7
TOT CAP.CONS. INCL DURABLES
2.3 s t a t i s t i c a l d i s c r e p a n c y
43.7 PROFIT TAX RATE <*>
15.0 p e r s o n a l TAX RATE (t>
60
61
62
63
64
65
66
67
68
69
70
71
72
73
6 FEBRUARY 1973
CREDIT MARKET SUMMARY
CREDIT MARKET SUMMARY
TOTAL FUNDS RAISED IN CREDIT MARKETS B* NONFINANCIAL SECTORS
(BILLIONS OF D O L L A R S >
SEASONALLY ADJUSTED ANNUAL RATES
>969
SEASONALLY ADJUSTED ANNUAL RATES
1972 1
1971
I
II
III
IV
I. * UNDS RAISED • BY TYPE AND SfiCTOR
1
91.7
101.6
156.3
168,1
115.8
170.0
173.7
164.1
139.4
161.2
153,9
&
3
4
•3.6
•1.3
•2.4
12,8
25.5
12.9
26.0
3.9
1
-.5
17,3
14,3
3,0
4* . 6
40.9
-.a
25.9
25.6
.3
31.4
30.6
5.4
3.1
.8
2.2
17.5
16.0
1.5
8.3
3.7
4.6
5
95.3
4.8
90.6-
88,8
6,8
130. •
13.5
117.4
150,8
12.4
138,4
129.3
16.1
113.2
147.9
17.0
130.9
132.7
11.4
134.1
10.3
123.7
143.7
15.9
127.8
145.6
87.5
92.4
14.4
13.7
64,3
37,0
9.8
14.8
2.7
82.5
24.5
25.2
32.6
15.4
7.4
7.7
86.6
89.7
19.2
15,9
54.6
32.1
91.2
17.7
18,8
54.6
31.4
9,3
11,7
2.3
82.5
15.1
12,9
54.5
30.3
8,7
12.9
91.8
12.9
14.7
64.2
36.5
9.9
14.9
2.9
68.2
29.9
13.0
10.4
-.4
6.t
46.0
20.2
21.6
2.4
4.0
1.9
11.9
26.6
13.4
9.0
-2,7
6.9
41.1
23.6
30.1
12.4
14.5
-3.0
41.2
17.1
13.1
2.9
6.1
8.1
36.0
14.7
18.0
.3
2.9
130.8
5.6
20.6
41.6
63.0
48.6
' 10. S
4.)
150.8
3.5
14.6
62,0
70.6
54.6
11.5
4.5
112.0
129.3
4.2
24.9
23.4
59.5
45.5
10.4
3.6
147,9
6.8
8.0
20.2
46.8
72.9
57.5
10.6
8.8
4,9
4,3
134.1
4.2
16.2
49.3
64.4
46.3
12.3
3.7
143.7
19.3
39.6
63.6
48,§
11.5
3.6
132.7
3.6
18.0
55.1
55.9
42.8
6
7
81,9
13
14
15
49.8
7.9
13.1
17.9
15.7
4.8
5.5
1.9
16
17
18
19
41.6
16.8
9.3
. 3.3
21.1
20
12,2
8.0
21
22
95.3
3.3
8.7
32.6
S O ,8
40.2
7,4
3.2
88.8
8
9
10
11
12
23
24
25
26
27
28
60,8
13,8
21,1
25.8
12,8
5,9
5,4
1.8
5,0
4.3
3,0
3.-0
13.9
22.3
49.5
39.8
6,4
3.2
20.8
20.3
47.8
26 .*
8«f
10.1
2.0
19.2
-.3
5.5
6.8
-2,9
112,0
9,2
102.7
2.2
19.6
21.2
45.8
25.3
9.8
9.4
1.3
8.8
11.5
2.2
12.6
2.2
2.8
121.2
2.6
29
.4
2.7
3.8
-.5
-14.8
12,7
3.4
11.8
- 10.2
30
31
91.3
•4.8
98.9
10.1
153.)
22.2
166.6
17.6
130.6
18.7
157,2
27.9
170.4
22.5
152.3
19.6
149.6
15.5
11.8
133.8
97.3
16.1
13,0
total
216.9
funds
raised
BY NONFINANCIAL SECTORS
DEBT CAPITAL INSTRUMENTS
ST.♦LOCAL 60VT, SEC.
CORPORATE ♦ FGN, BONDS
MORTGAGES
MOMe MTGS.
OTHER RESIDENTIAL
COMMERCIAL
FARM
36,5
19.0
18.7
-5.5
4.3
69.5
35.6
26,1
OTHER PRIVATE CREDIT
6 ANK LOANS N.E.C.
CONSUMER CREDIT
OPEN-MARKET PAPER
OTHER
145.6
178.8
10,2
15,6
2.9
1.6
2.0
11.7
58.4
72.1
56.1
11.3
4.7
16.7
64.8
62.0
48.1
10.0
4.0
2
3
4
178.8 ALL OTHER NONFIN, SECTORS
11,4
CORPORATE EQUITY SHARES
167,4
DEBT INSTRUMENTS
97.9
13.5
14,3
70.2
41.8
10.3
15.7
2.3
39.4
1
38.1 L. S. GOVERNMENT
34.3
PUBLIC DEBT SECURITIES
3,8
BUDGET AGENCY ISSUES
1.0
6.8
6.2
6
7
8
9
10
n
12
13
14
15
16
17
18
19
20
BY BORROWING SE CT OR—
13.8
74.9
83.9
65.8
12.4
5.7
5
21
FOREIGN
22
STATE*LOCAL GOVTS.
^CJSIHOLOS
NONFINANCIAL BUSINESS
CORPORATE
NONFARM NONCORPORATE
FARM
23
24
25
26
27
28
.1
-3.1
11.0 U.S.GOVT. CASH BALANCE
- ...........
TOTALS NET OF CHANGES IN L .S. GOVT. C A S H BALANCES—
161.1
156,9
205.9 TCTAc FUNDS RAISED
17.4
11.4
27.1
»Y U.S. GOVERNMENT
29
30
31
PRIVATE 90MESTIC NET INVESTMENT AND BORROWING IN CREDIT MARKETS
227.1
1*4.4
92,7
225.5
164,9
60,6
252.9
176.S
74. a
294.2
195.3
98.9
241.4
172,6
83,3
71,8
- 10.6
- 11,2
104,6
-30,3
189,3
69.5
39.7
110.1
118.8
73.6
36,6
80.0
37.9
46,5
4,3
42,7
• 11,1
-12,9
49,6
13.4
-25,1
13
14
•4,0
49.9
34,2
84,6
52,7
31.9
85.2
57.3
27.9
15
16
17
35,9
4.3
• 6,0
33.0
-7.9
35,1
13.4
-20.7
18
19
20
1*7,6
84,8
33,0
115.3
91.3
24,0
21
22
32,6
,5
22.3
1.7
1
2
3
4
5
6
7
8
9
10
11
12
23
24
25
26
6.8
6.8
•2,9
7.0
-1.9
5.5
2.2
2.2
5,8
4.1
86.6
288.5
196.1
92.4
299.5
196.5
102.9
TOTAi , HOUSEHOLDS AND BUSINESS
311.5
!0T AL CAPITAL OUTLAYS (1)
199.7
CAPITAL CONSUMPTION (2 )
111.8
^ET PHYSICAL INVESTMENT
1
2
113.6
-25.1
130.5
-38.0
126.6
-23.9
158.8
-47.0
4
5
68,6
252.6
176,4
76.2
255.7
180.5
75.2
261.8
184.7
77.1
277.4
168.8
132.6
-33.7
62.9
-14.1
103.2
-27.0
119.7
-44.6
111.0
139.3
68.9
50.4
114.1
76.7
37.4
119.8
78.8
40.9
117,2
81,2
36.1
120.8
58.0
12.6
50.5
9.0
- 22.1
55.9
17.0
-36.8
43.8
- 20.2
47.9
15.7
-22.7
103.2
64.3
38.8
82.4
54.8
27.6
87.6
56.5
31.2
41.9
-15.7
36.5
9.0
-17.9
134.9
98.5
36,4
154.9
106.4
48.6
41.6
-5.2
62.0
-13.5
- 8.1
5.7
2.3
5.2
12.6
-13.4
2.7
-33.9
136.2
89.7
46.5
141.5
89.5
51.9
-18.6
S 3 .6
10.5
-19.2
55.9
16.2
-25.6
12,2
11.6
- 10.1
-25.9
83.2
58.2
25.0
87.7
59.9
27.8
94.8
61.7
33.1
100.1
64.8
35.3
106.3
64.9
41.4
111.4
65.9
45.5
32.8
15.7
-17.3
40.5
17.0
-32.4
30.7
37.8
1C.5
-15.2
39.9
16.2
- 20.6
12.2
11.6
-15,0
-6.7
127.3
95.9
31.4
132.8
97.5
35.3
138.4
99.4
39.1
141,1
101,3
39.8
146.7
103.2
43.5
152.1
106.4
46.0
23.4
39.6
-4.3
46.8
-7.7
55.1
-15.3
49.3
-5.8
58.4
-12.4
8.0
- 1.0
2.8
11.0
2,1
5.5
4.0
-7.4
6.4
2.4
5.7
- 11.8
5.4
2.4
3.7
12.1
12,1
- 12.0
-7.5
1.6
6.2
2.6
2.5
7.4
7.2
49.9
(3 )
3
TOTAL BUSINESS
130.7
85.6
45.1
83.4
37.3
S F T FUNDS RAISED
fXCESS NET INVESTMENT
148,8
90.9
58.0
72.3
total
capital
outlays
CAPITAL CONSUMPTION
NET PHYSICAL INVESTMENT
NET DEBT FUNDS RAISED
CORP. EQUITY i s s u e s
EXCESS NET INVESTMENT (3 )
6
7
8
9
10
11
CCP»ORATE BUSINESS
T C TAi_ CAPITAL OUTLAYS
: PITA., c o n s u m p t i o n
^■T PHYSICAL INVESTMENT
13
14
-20.3
ufT DEBT FUNOS RAISED
v'-RP. EQUITv ISSUES
EXCESS NET INVESTMENT
15
16
17
158.0
107.0
51.0
162.7
108.9
53.8
HOUSEHOLDS
TOTAL CAPITAL OUTLAYS
CAPITAL CONSUMPTION
NfT PHYSICAL INVESTMENT
64.8
-13.8
74.9
- 21.1
35.9
54.2
(3)
k*fT FUNDS RAISED
EXCESS NET INVESTMENT (3)
WHICH!
HOUSES LESS HOME MTGS.
DURABLES LESS CONS. CREDIT
NONPROFIT P&E LESS MTGS.
LE S S — UNALLOCATED DEBT
12
16
19
20
21
22
CF
-14.0
2.4
2.6
3.%
-15.5
4.6
2.5
5.5
-16.8
- 1.6
3.4
6.0
<1)CAPITAL OUTLAYS ARE TOTALS FOR RESIDENTIAL AND NONRESIDENTIAL
FIXEO CAPITAL. NET CHANGE IN INVENTORIES. AND CONSUMER DURABLES*
EXCEPT 0 U TLAYS BY FINANCIAL BUSINESS.
<2)CAP ITAL CONSUMPTION INCLUOES AMOUNTS FOR CONSUMER DURABLES
AND EXCLUDES FINANCIAL BUSINESS CAPITAL CONSUMPTION,
(3)EXCESS OF NET INVESTMENT OVER NET FUNDS RAISED.
23
24
25
26
• FEBRUARY 1973
W E D IT MARKET SURRLY OF FUNOS
rOF^TT M*QKFT SUPPLY of
ANO
d ir ec t
I N D I R E C T s o u r c f s OF F U N D S
( B I L L I O N S OF O O L L A P S )
TO
c redit
m ar kf t s
SEASONALLY a d j u s t e d ANNUAL r a t e s
Sf * c O N i A L L v
l»»9
1970
1971
1972 }
I
„ 1WI
94.7
14?.9
155.T
106.6
1ST?
3^!
‘g.'s
j|;,
js
.j;:
j&
153.8
•
,,,
Iv
156.7
*33.8
15? 6
6.7
15?.6
'
i
rr
i?o l
nr
‘"I®
s
J:t
W
J:;
6
*«3
5.2
4.8
3.9
7.3
i .9
7.0
.2
«•*
I
8
9
18
2*9
9 *°
2.8
3.2
2.8
4,2
5.0
8*8
- 3
10*3
8.7
*»•*
«-5
3.9
5.9
*•8
79.9
4.6
7.9
12
13
14.
15
16
17
18
5-.3
12.6
15.8
43.0
4.0
TS.5
5.8
13.8
20.5
12.9
2 3.8
1.3
’J
,
12-?.1
,.,Tf T*L F"*nS ^ V A N C E D
U 5.3
14?.1
|J*|
<1
6.5
4%
4#9
3 9
.9
14.1
-I *
2*7
? ,
T i
g *§
«:*
i 3
*•
3?:?
r 4
•*
7
ANNUAL
rv
? 0 5 .5
RV
3
ADJ.’J S T E "
197?
»•«
TO
OURLTC
13.* TOT»l
IS CPFDTT m a P t t s
NONFTNANCIAL
A'SEMCI-ES
SECTOR
AND F O P r T r,N
«E t " « I n c ? c ..............
;:1
":!
A
•
V *
*5
I .
o'®
,
~ 1*7
I't
3 *-5
3,f
J*?
- -
,j.-:
_ ,
5.1
7*5
3,T
FHLB ADVANCES TO 5*L*S
ft.O
OTHER LOANS ♦ SECURITIES
or AGENCY —
?*9
**5
U «S. r’OVT.
SPONSORED CREDIT AGENCIES
1:1
.ft
;•;»
a „
4.9
*•*
4.9
8.8
5*1
; s s ; a #rs" vf
AGENCY BORROWING NOT
4.7
IN LINF 1
1^
11
PRIVATE DOMESTIC FUNDS ADVANCED
105.5
-4.0
20.2
20.0
29.2
37.4
-2.7
u.9
1*.*
«3.6
♦1.4
59.7
-JS.0
2*.5
l*.t
20.9
23.8
-1.8
lslz
19.«
21.*
28.5
3 5
-9 . 8
2 ’e
,?•;
J ‘I
}« f
33.1
34*1
50 i
1^3
.
105.0
144,4
i J o -5» i ‘ t21.7
-10.9
!£•?
15.1
12.9
,*1
}f*?
12.6
14.6
\Vt
I J ’S
32.6
40.3
49*5
«*«
49.5
55.5
!!*o
•*
- 6.0
.6
12».9
5.?
,*•?
16.1
t ’l
13.3
*3#?
♦5.1
iVl
51.2
51.9•?
CREI
140.7
164.8
i? *I
49.4
18.8
7.7
7.7
'
T0 T *L MtT
* ’ •*
U.S.80VT. SECURITIES
I3>S
" U *'»':>P *L SE CU RI TI ES
U#I
C0RP0RATE*F6N. RONOS
tV*.
" « I O E " T I A L MORTGAGES
81 •*
° ™ CR M ^ T G A O E S ♦ LOANS
3.7
L E S S — FMLB ADVANCES
1’
13
u
h
16
17
18
PRIVATE FINANCIAL INTERMEDIATION—
H
!?
*1
if
13
1°*?
105,8
49-8
16.6
41.6
12.0
2.3
f8 *!
14.2
31,6
12’2
8«6
l7-6
4*5
?5
2 *5
6 0 «4
86
,6-e
-
’ 2*3
J8
!!
36
9.3
!
10.3
-8.4
. 3 I3
,2,9
2*2
8.2
31
15,1
139*3
65.3
48.9
16.9
8.3
102I9
‘*5
13.5
*
»°®.l
43.7
46.9
11.7
111.7
55.1
44.0
11.6
-? .i
9
I 27 I 0
24!2
10.6
7 '5
*•*
.I 2 I9
-14.8
8.5
- 10.2
118.6
56 3
37 0
? I *5
123 6
123.6
57*3
57.3
ll'l
48.8
?;•;
10.9
19? 7
122.7
IVI
49.6
ii'S
48.0
?!*;
17.7
•5
9*8
6.6
6-6
7.5
7«5
123.6
U5*2
115.2
”7.1
?:?
122.7
84.7
7.1
#*:I
140.7
lo°*7
104.5
*17.1
!«
1 .4
I**
1.3
. 7 *l
-7,6
2 't
2.8
ff
,8’J
30.9
3J *9
7.4
-.3*i
19.1
19*»
3.7
3,I
.9
1*0
i 3.9
i3*!
.6
6**0
!91*2
V!
■-
till
12.5
6.6
I*')
n*J
lols
.4
%2
5.8
14.2
-2 6
42.7
16.0
6.7
7.6
8.7
3.7
7.0
-7.6
1.4
10.4
- 1.2
4.1
4.2
-13.1
5.7
e .6
- 2.1
5.0
18.3
5.7
5.1
3.8
•
3.7
-37.1
-51 .0
5.6
§8
5.3
39
- 2.2
63.9
56.2
95.7
81.3
107.2
86.4
40
41
42
7.6
4.7
7.7
4.2
3.5
14.4
20.8
11.0
16.5
4.3
3.4
10.4
5.1
29.0
- 2 .C
8.4
10.6
10.1
-6.3
3.9
10.1
-9.3
3.1
S.l
7.4
132.3
U3.1
88.3
71.7
68.6
19.2
14.0
5.2
1.6
13.3
- 1.2
3.8
3.4
12.8
.1
2.6
16.8
2.0
6.8
1.6
39.1
32.7
6.3
110.4
115.9
1::. 6
163.4
11*.?
6.7
85.0
3.7
12.7
109.?
18.7
1*1
17‘ 9
’^ * 2
, ? • ! *4
1 6 *°
1 1 . fl
m u TUAL FUND SHARES
11.7
OTHER EQUITIES
10,3
14,8 aCQ# 8V ^ X ^ W C r A L INST.
3.8
106.5
25.9
98.3
16.4
12.8
-2.5
11.4
-1.9
19.1
-4.4
13.9
- 1.6
INVESTORS-—
17.5
15.9
9 T ,fc
4
5
NONFINANCIAL
50.2 DIRECT LE NDING IN CR. MKTS.
30.8
U. S.GOVT, SECURITIES
5.7
MUNICIPAL SECURITIES
2.7
C0RR0RATE*F8N. RONDS
5.1
COMMERCIAL RARER
5.9
OTHER
- 1.1
-3.6
2.5
3?.0
80.8
37.6
EQUITIES
7.2
- 2.0
9.2
DOMESTIC
NOT
INCLUDED
1.1
94.5
88.6
?9
30
31
NFT
27.5
20.7
19.5
8P.3
25.8
-.2
OTHER.
18.7
98.7
12.5
13.4
2.7
95.2
12.3
2T
?«
16.5
42.4
14.8
1.3
13.5
SOURCES
F0R EI6N EUNOS
T»* *SURY BALANCES
I N S U R A N C E ^ E N S I O N RES.
106.1
11.3
96.8
12.7
9.5
39‘7
4*5
87.2
88.3
125.5
2.6
24
g
122.0
9Q.9
6.9
S0UBCtS 0F FuNDS
SSSrsJKriSU,,..
93.2
74.4
28.9
10C .2
23.1
10.3
5.5
4.7
-.1
113.2 DEPOSITS ♦ CURRENCY
74.2
TIME • SAVINGS ACCOUNTS
6.
11.
12.
17
17.
25.
26.
33
34
3«
36
37
MONEY
DEMAND DEPOSITS
CURRENCY
4ft
41
4?
TOTAL OF CREDIT MARKET
ft.5 P U B L I C S U P P O R T R A T E («)
86.4 P V T . F I N . I N T E R M E D I A T I O N (ft)
12.7 T O T A L F O R E I G N F U N D S
44
4%
*f
ABOVE
l J *7
lM
lJ * ®
16*2
16*9
I6 ,
11 *5
7V I
lI*f
13,9
1 C *5
11,5
’ *3
11.4
TOTAL
NET
ISSUES
j
?
3
21.8
-14.7
^-*7
"6 ^
3,1
Total funds raised, page 2, excluding corporate equities
in
S
- oof
f llines
l . , 3-6
3 ^ ,or ,7-10.
,
Sum
30'
q
Includes farm and commercial mortgages.
1»3
Line 1 less line 2 plus litus 11. Also line 19 less line
26 plus line 32. Also sum of lines 27 through 41
excluding subtotals.
Tr»<-Tiidea
,
Includes farm and commercial mortgages.
Lines 39 + 41.
Excludes equity issues and investment company shares.
Include* line 18.
Foreign deposits at commercial banks, bank borrowings
rrom foreign branches, and liabilities of foreign oankirg agencies to foreign affiliates.
at commercial ban*s.
*
i
4
-3.4 OTHER NET PURCHASES
*
j
o £ th. « re s e r v „
equities.
31-
ta «ot p o r.te
Mainly retained earning® and net miscellaneous liabilities.
Credit market funds raised by Federally sponsored credit
agencies. Included below in lines 13 and 33. Includes
ail GNM^-guaranteed security issues backed by mo r tea Be
pools.
y mortgage
De.r-?.',.d deposits
3>
38
39
Line
1.
?3
l7°*°
65.9
7C.9
1
2
3.8
19
2o
I,
??
lK:I
- 6.1
2.7
29.5
92.1
3
6.2
20.2
n .2
U" ° S A0V4NCEl> »v >*IVATE
FINANCIAL INSTITUTIONS
COMMERCIAL BANKING
SAVINGS INSTITUTIONS
INSURANCE ♦ PENSION EUNDS
OTHER FINANCE
3.6
18.2
67.6
9.0
CORPORATE
-21.7
3.4
* .4
5.5
-.3
5.1
4.1
89,1
2.4
48.0
165.1
12.4
28.7
14.1
T
17°*°
5.0
43
1.8
-11 .6
2.2
44
45
46
12*6
12.6
u*?
11.2
PRIVATE
32
33
34
35
36
37
2.8
'Ills
13-T
92.1
*3.7
38.6
l.z
5
’
Line 12 less line 19 plus line 26
33-17
11 it »
7
amounts required by private finance.
3 7 includes aortgages.
«\
I
39f41.
See line 25.
42•
Mainly an offset to Line 9 .
,,
Ltnes 32 + 38 or line 12 less line 27 less line 42.
44>
Line 2/line 1
4546
Lines
Line 19/line 1 2 .
t
10 P lus 2 8 •
™
Corporate equities
Line
and 3
Includes
issues by financial inst:tucions.
Line
* FEBRUARY 1973
HOUSEHOLDS
HOUSEHOtOS
SECTOR STATEMENTS OF SAVING AND INVESTMENT
<BILLIONS OF DOLLARS)
* 4
SEASONALLY ADJUSTED ANNUAL PATES
1971
1969
1970
1971
1972 I
I
II
IT
SE ASONALLY ADJUSTED ANNUAL RATES
--------------- --- -
1972
H
I
III
IV
I
I
II
III
HOUSEHOLDS* PERSONAL TRUSTS. AND NONPROFIT ORGANIZATIONS
750.9
116.5
806.3
116.7
861.4
117.0
935.7
140.7
838.0
112.3
85*. 1
115.2
867.9
117.5
881 .5
123.0
907.0
136.4
922.1
139.5
939.5
141.0
974.3
145.9
5
6
7
8
634.4
596.2
38.2
6.6
2.5
16.2
689.5
634.7
54.8
9.2
.9
9.9
744.4
683.4
60.9
9.8
.8
16.2
795.0
740.3
54.7
725.7
666.4
59.3
10.3
742.9
678.8
64.1
758.5
699.2
59.3
9.5
770.6
714.9
55.7
4.5
1.3
.1
1.2
.6
1.0
21.8
15.0
15.5
18.0
16.2
19.3
782.6
732.5
50.2
15.6
1.4
20.4
798.5
747.9
50.6
10.8
1.2
750.4
689.4
61 .0
8.5
828.4
766.0
62.4
12.4
1.7
24.4
9
It
11
63.6
84 .S'
148.4
74.9
91.3
166.2
87.6
98.5
186.1
88.5
106,4
194.9
84.7
95.9
180.6
91.6
97.5
189.1
88.7
99.4
188.0
85.6
101.3
186.9
80.5
103.2
183.7
87.6
106.4
194.0
85.0
107.0
192.0
181.6
134.9
25.8
103.5
5.6
204.7
154.9
32.4
116.3
182.8
132.8
25.3
101.9
5.7
176.4
138.4
26.7
106.1
5.7
183.5
141.1
29.2
106.1
5.8
184.4
146.7
29.6
209.2
152.3
32.4
113.9
201.8
10.6
10.0
1.2
23.3
101.0
108.9
209.9
<1
?
DISPOSABLE PERS. INCONE
ESS I PERSONAL OUTLAYS
PERSONAL SAVING. NIA BASIS
NET DURABLES IN CONSUMPTION
NET SAVING
CAPITAL CONSUMPTION
GROSS SAVING
10
11
IS
1*
90.8
5.1
174.3
115.3
19.6
90.5
5.3
6.2
183.5
127.3
22.3
99.8
5.3
6.0
6.0
223.2
162.7
34.3
121.5
6.9
17
15
26.7
57.T
59.0
80.4
46.6
91.4
49.7
119.8
56.2
82.4
50.0
93.6
37.9
86.4
42.4
101.5
37.7
96.2
56.8
123.2
43.9
116.1
60.5
142.8
19
It
42.9
3.5
61.1
6.1
70.5
8.5
95.6
12.4
69.8
15.0
68.6
63.7
-1.5
78.2
85.2
15.1
90.6
-3.2
86 .2
8.5
11.5
119.8
25.9
DEPOSITS ♦ C R . M K T .I NS TR .(1) 19
OEMANO DEPOSITS ♦ CURRENC 20
>1
6 •1
-1.9
8.0
44.5
27.6
17.0
73.5
32.7
40.8
78.9
33.3
45.6
100.9
49.5
51.4
65.1
23.1
42.0
57.3
21.9
35.4
70.6
36.3
34.3
88.8
78.4
36.4
42.0
80.0
35.6
44.4
68.4
29.6
38.8
SAVINGS ACCOUNTS
21
AT COMMERCIAL BANKS
2?
AT SAVINGS INSTITUTIONS 23
10.4
-4,4
2.0
-1.8
12.4
2.2
- 1 1 .6
4.3
-1.5
4.2
- 2.0
3.2
.4
7.9
-13.1
7.2
-3.3
-7.6
3.0
-4.0
3.1
2.2
2.2
15.4
7.7
5.7
- 1.6
3.3
.3
-5.3
- 8.6
3.8
-3.6
3.4
-.3
25.6
18.2
4.6
1.4
2.4
-5.0
-13.1
4.5
-4.1
7.0
.5
-18.7
-23.4
4.9
' -3.9
7.6
2.4
-46.1
-57.1
5.0
-7.7
19
33.3
12.1
7.6
5.9
5.7
2.0
CREDIT MKT. INSTRUMENTS
U.S. GOVT. SECURITIES
STATE AND LOCAL 0BLI6.
COMMERCIAL PAPER
CORPORATE AND F 6N. BONO
MORTGAGES
24
25
26
27
28
29
90
91
5.5
-9.6
2.6
-5.2
1.3
-6.5
-.2
- 2.0
-12.9
2.7
-3.4
- 2.0
2.5
-7.8
-2.7
- 6.1
2.0
-3.7
-1.3
.4
*
-.3
-7.5
INVESTMENT CO. SHARES
OTHER CORP. SHARES
30
31
82
93
4.9
15.8
5.2
19.5
6.6
6.9
6.1
6.6
20.0
21.7
21.5
6.9
16.8
6.9
20.2
21.0
7.0
11.3
26.8
6.9
19.1
7.0
23.0
LIFE INSURANCE RESERVES
PENSION FUND RESERVES
3?
33
94
95
96
-3.2
-.8
2.1
-4.9
-.5
2.6
-3.2
-2.3
.9
2.5
-4.3
-3.6
- 1.2
2.4
- 2.2
- 1.2
2.4
-2.4
- 2.0
.6
1.2
2.5
2.4
- 2.8
- 1.2
2.5
-1.9
3.1
2.4
-2.5
.7
2.4
NET INV. IN NONCORP. BUS. 34
SECURITY CREDIT
35
MISCELLANEOUS
36
97
18
99
40
41
42
43
44
31.0
32.6
16.2
1.3
8.3
1.0
2.8
3.0
21.4
22.3
12.5
1.4
3.0
1.3
1.5
2.6
44.7
41.6
24.5
1.4
70.1
62.0
35.8
1.5
16.0
48.4
46.8
29.1
1.5
10.3
59.1
55.1
31.7
1.5
12.4
58.5
49.3
27.5
1.5
13.2
72.2
64.8
39.1
1.5
16.1
2.1
3.9
1.3
3.1
4.1
1.4
2.2
-.1
2.5
2.2
6.2
1.2
1.2
1.3
66.4
58.4
35.5
1.5
14.8
3.2
1.9
1.4
82.3
74.9
41.3
8 .4
43.6
39.6
23.4
1.4
6.7
2.3
4.6
1.2
1.6
45
46
47
-2.5
.5
.4
-1.9
2.1
7.0
3.0
.6
.6
.6
6 •4
.6
6.3
.6
8.2
.6
7.0
.6
.6
.6
3.0
.6
1.8
.6
.4
.5
.5
.4
,4
.5
.5
.5
.5
.5
.5
-9.8
-3.0
6.3
11.6
3.4
-.7
-15.2
-9.8
-13.3
12
13
-14
12
•3
•4
25
16
•7
IS
.144.6
117.8
22.0
-
22.6
3.9
11.2
1.6
2.5
26.2
23.4
13.9
1.4
2.7
1.3
2.3
1.7
.2
9.0
4 •6
2.0
11.0
111.0
6.0
31.6
57.2
2.6
-4.3
4.1
5.7
1.4
6.8
158.0
33.4
118.6
2.6
4.3
2.0
-.6
2.6
1.6
19.5
6.5
4.4
.6
CAPITAL EXPEND. (NET OF SALES
RESIDENTIAL CONSTRUCTION
CONSUMER DURABLE GOOOS
NONPROFIT PLANT ♦ EQUIP.
11
14
15
16
NET FINAN. INVESTMENT
NET ACO. OF FINAN. ASSETS
17
18
NET INCREASE IN LIABILITIES
CREDIT MKT. INSTRUMPNTS
HOME MORTGAGES
OTHER MORTGAGES
INSTALLMENT CONS. CR.
OTHER CONSUMER CREDIT
BANK LOANS N.E.C.
OTHER LOANS
SECURITY CREDIT
TRADE DEBT
MISCELLANEOUS
DISCREPANCY
37
38
39
40
41
4?
41
44
45
46
47
48
(l)FXCLUDES CORPORATF EOUITIFS
29.6
9.6
27.5
-7.5
22.3
9.3
13.9
- 1.0
2*. 3
9.3
23.4
-7.4
26,7
9.4
29.1
29.2
9.5
31.7
- 11.8
- 12.0
101.9
86.4
15.5
106.1
88 . 1
18.0
106.1
90.0
16.2
111.0
21.8
99.8
84.8
15.0
10.4
5.7
19.2
2.7
4.0
9.0
6 .*
12.6
14.5
13.1
11.0
5.4
1.6
6.2
5.6
6.2
5.3
5.7
5.7
5.8
6.0
1.8
32.4
49
90
51
92
22.0
8.7
16.2
-2.9
19.6
9.0
12.5
-1.9
25.8
9.4
24.5
- 8.1
93
94
55
90.8
74.6
16.2
90.5
80.6
9.9
103.5
87.3
16.2
116.3
94.4
96
97
9.3
7.0
4.3
5.5
98
99
60
61
5.1
1.3
5.3
1.7
1.4
2.2
82
63
15.5
6.0
8.0
84
23.1
85
10.0
35.8
-13.4
91.7
19.3
35.5
-14.0
33.4
9.8
39.1
-15.5
34.3
9.9
41.3
-16.8
MFMORANOAi.
n e t PHYSICAL INVESTMENT*
<Ai RESIDENTIAL CONSTRUCTION
EXPENDITURES
LESSI CAPITAL CONSUMPTION
HOME MORTGAGES
* EXCESS NET INVESTMENT
113.9
93.5
20.4
118.6
95.3
23.3
121.5
97.1
24.4
rR ) CONSUMER DURABLES
EXPENDITURES
LESSI CAPITAL CONSUMPTION
* NET INVESTMENT
18.0
2.4
18.7
4.6
26.1
- 1.6
6.0
1.9
6.0
32.4
11.0
LESSI CONSUMER CREDIT
« EXCESS NET INVESTMENT
(C) NONPROFIT PLANT ♦ EOUIPMENT
6.9
expenditures
lessj ca pital c o ns ump tio n
I .9
NONPROFIT MORTGAGES
1.6
= EXCESS NET INVESTMENT
3.4
1 .9
1.5
1.8
1.8
1.8
1.8
1.4
2.2
1.4
2.3
2.8
2.1
1.4
2.4
1.5
2.4
1.5
2.5
2.6
2.6
1.9
1.5
2.5
14.5
13.6
13.4
13.4
13.5
8.2
15.0
6.9
8.2
8.6
8.1
14.0
7.8
15.0
7.2
15.1
6.4
15.0
6.3
23.8
24.7
24.2
24.5
25.0
24.7
24.3
23. 7
24.3
PER CENT OF DISPOSABLE INCOME A D J . (2)1
23.7
24.9 GROSS SAVING
16.5
11.5
3.1
3.2
17.9
12.1
11.2
5.9
5.5
19.2
14.8
8.7
7.7
17.3
3.6
3.?
17.6
12.4
5.8
5.2
18.2
11.4
6.4
68
18.3
9.0
4.8
5.1
6.2
18.4
13.2
7.7
7.2
18.9
1?.*
7.5
* .4
19.0
15.4
8.3
7.3
69
643.5
699.7
754.9
807.0
736.1
754.9
760.1
76H.6
66
87
1.6
1 .9
1.5
1.5
19.5
14.3
8.9
8.0
PERCENT RATIOSI
15.0 EFFECTIVE TAX r a t f
7.5 SAVING RATE* NIA BASIS
19.3
16.9
9.8
8.9
CAPITAL EXPENDITURES
ACO. OF FINANCIAL ASSETS
ne t i n c r . in l i a b i l i t i e s
CREDIT MKT. BORROWING
49
50^
51
5?
53
54
5*
56
57
58
59
60
61
62
63
64
65
66
67
68
69
799.7
842.6 (2)0TSPOSABLE INCOME ADJ.
809.7
77* .1
APlf INCOME ♦ GOVT. INSURANCE CREDITS ♦ CAPITAL GAINS OIVIO.)
6 FEBRUARY 1973
TOTAL ♦ NONCORP BUSI NE SS
TOTAI
5
♦ NONCOPP
BUSINESS
SECTOR STATEMENTS OF SAVING ANO INVESTMENT
(BILLIONS OF OOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1969
1970
1971
I
1972 I
3
SEASONALLY ADJUSTED ANNUAL PiTfS
1971
I
II
nonfinancial
III
IV
|
|
197?
I
II
III
IV
BUSINESS - TOTAL
1
2
139.5
80.3
127.5
79.9
136.?
89.9
150.5
102.4
133.6
84.8
137.3
88.8
137.8
89.6
138.2
95.5
144.1
96.5
145.7
102.7
151.9
103.6
160.3
106.6
INCOME BEFORE TAXES
GROSS SAVING
3
4
6
7
8
9
67.8
109.3
101.4
90.8
.1
>0.6
7.8
72.9
110.1
105.2
93.6
.8
10.8
4.9
70.1
118.0
114.9
97 .6
2.*
14.J
3.*
92.4
139.3
133.5
112.0
2.2
19.3
5.8
72.6
114.1
109.2
94.4
3.5
11.3
4.9
77.3
119.8
113.2
97.0
2.1
14.0
6.6
63.0
117.2
115.9
98.1
2.9
15.0
1.3
66.9
120.8
119.1
100.9
1.2
17.0
1.7
86.0
130.7
130.3
108.4
3.7
18.3
.4
88.0
136.2
131.2
110.8
1.6
18.8
5.0
96.6
141.5
133.5
112. 5
2.6
18.5
8.0
98.8
148.8
138.9
116.4
.9
21.5
10.0
GROSS INVESTMENT
CAPITAL EXPENDITURES
FIXEO INVESTMENT
BUSINESS PLANT ♦ EQUIPMENT
1-4 FAMILY RESIDENT. CONST
OTHER RESIDENTIAL
CHANGE IN INVENTORIES
10
11
12
13
14
15
16
17
18
19
-41.4
22.9
64.3
4.3
46.5
12.1
-.6
U.<
14.4
9.3
-37.2
12.6
49.8
6.8
♦ 2.7
20.3
.3
11.7
3.5
7.0
-47.8
23.4
71.3
13.4
49. *
19.4
l.§
19.4
6.4
2.7
-46.9
32.7
79.6
12.6
58.0
12.9
1.2
25.7
15.1
3.1
-41.5
24.8
66.3
9.0
50.5
24.1
1.5
16.0
.5
8.5
-4 2.f
24.9
67.4
15.7
47.9
20.1
1.9
19.1
6.1
.8
-54.3
27.3
81.5
17.0
55.9
14.9
3.0
21.1
15.2
1.7
-53.9
16.3
70.1
12.1
43.8
18.5
-.3
21.7
4.0
-.1
-44.7
31.2
75.9
10.5
53.8
11.2
2.7
22.7
10.7
6.5
-48.2
25.2
73.3
16.2
55.9
13.0
1.0
26.2
10.0
5.7
-44.8
2 9.6
74.4
12.2
49.9
13.5
.4
27.2
11.3
-2.5
-50.0 NET
»
FINANCIAL INVESTMENT
JO
44.8
FINANCIAL USES OF FUNDS# NET 11
94.8
FINAN. SOURCES OF FUNDS* NET 12
11.6
CORPORATE SHARE ISSUES
13
72.3
CREDIT MKT* INSTRUMENTS
14
13.B
CORPORATE BONDS
15
.6
HOME MORTGAGES
16
OTHER MORTGAGES
17
26.8
28.4
BANK LOANS N.E.C.
16
OTHER LOANS
19
2.8
20
21
15.2
-1.7
4.6
-♦.2
3.9
4.4
10.8
•1.8
7.2
-.5
-1.2
5.0
3.2
5.5
6.3
7.9
13.3
-1.7
9.0
-7.8
11.7
.6
22
12.5
6.9
19.8
10.0
12.3
11.4
26.7
28.6
10.5
14.7
7.0
farm
9.2
1.7
TRADE DEBT
OTHER LIABILITIES
7.8 0 SCREPANCY
i
2
3
4
5
6
7
6
9
20
21
22
BUSINESS
1
2
3
4
5
6
16.7
•
6.6
6.a
.3
6,5
16.9
-.1
6.7
6.4
.4
6.6
17.a
t
7.2
6.B
.4
7.1
19.6
.1
7.6
7.1
.s
7.6
16.8
•
6.9
6.6
.4
7.0
16.9
.1
7.1
6.7
.4
7.2
17.6
-.1
7.3
6.9
.4
7.2
18.1
-.2
7.5
7.0
.4
7.2
19.1
•
7.5
7.0
.5
7.6
18.7
•
7.5
7.1
.5
7.6
19.1
.1
7.6
7.0
.5
7.6
21.6
.1
7.6
7.1
•9
7.7
NET INCONE
NET SAVING
CAPITAL CO NS UN PT IO N
NONCORPORATE
CORPORATE
CURRENT SURP, ■ GROSS SAVING
7
8
9
10
11
6.5
6.6
5.9
.6
.1
6.6
7.1
6.5
.5
7.2
9.4
7.3
.1
1.2
7.6
9.8
8.8
.7
.3
7.0
8.2
6.9
.5
.9
7.2
9.1
7.1
.1
1.9
7.2
9.9
7.7
.7
1.6
7.2
9.1
7.6
.6
.9
7.6
8.9
7.9
.6
.3
7.6
9.8
8.4
•6
7.6
9.7
8.6
.6
.1
7.7
10.9
9.8
.9
.2
GROSS INVESTMENT
CAPITAL EX PENDITURES
PLANT ANO EQUIPMENT
RESIDENTIAL CO NSTRUCTION
CHANGE IN INVENTORIES
7
B
9
10
11
12
13
14
15
16
17
-.1
.5
.1
.4
.4
.1
-.5
.6
.1
.5
.4
.1
-l.B
.9
.1
.4
.3
.1
-2.2
.5
.1
.4
.3
.1
-1.3
.5
.1
.4
.3
.1
-1.9
.5
.1
.4
.3
•1
-2.6
.4
.1
.3
.3
•
-1.9
.6
.1
.5
.3
.1
-1.3
.5
.1
.3
.3
•
- 2.2
•6
.4
.3
.1
-2.C
.5
.1
.3
.3
•
-3.2
.7
.1
.5
.3
.2
NET FINAN. INVESTMENT
NE T. IN CR .I N FINAN. ASSETS
DENAND DEP. ANO CURRENCY
MI SCELLANEOUS ASSETS
INSURANCE RECEIVABLES
EO UI TY IN S P O N . A G S . (2)
12
13
14
IS
16
IT
18
19
20
21
22
23
24
.7
3.2
1 .9
.6
.6
•
.6
1 .1
3.2
: .8
.6
.6
-.1
.7
2.4
4.1
2.0
1.3
.7
♦
.7
2.7
4.5
2.7
1.4
.5
•
.4
1.8
3.6
2.2
.♦
,9
-.1
1.0
2.3
3.6
1.3
1.4
.9
•
•t
3.1
4.9
2.2
2.1
.5
.5
2.5
4.3
2.3
1.4
.6
.3
.4
1.7
3.7
2.6
.9
.3
-.2
.5
2.7
4.7
2.9
1.4
.4
•
.5
2.5
4.0
2.9
.9
.2
.1
.1
3.9
5.7
2.3
2.5
.9
.3
.6
25
26
.7
•3.2
l, i
-3 tc
1.4
-3.1
.4
-2.2
1.8
-3.e
1.8
-3.0
.6
-2.4
1.5
-3.4
.2
-2.1
.7
•1
.7
•5
.3
-2.7
-2.0
-?.l
(2) SHARES IV FICB 'Sf BAN
1
2
3
4
S
6
NET INCREASE IN LIABILITIES 18
CREDIT MARKET INSTRUMENTS 19
MO RT GA GE S
20
BANK LOANS N.E.C.
21
OTHER LOANS
22
U.S.GOVT.
23
FICB«BKS FOR COOPS
24
TRADE DEBT
PROPRIETOR NET INVESTMENT
25
26
NONFARM n o n c o r p o r a t e BUSINESS
1
60.0
59.9
62.4
66.8
61.6
63.1
64.1
64.7
65.3
64.3
t' .9
69.6
NET INCOME
1
2
3
*3.1
13.0
■* •*
15.5
15.6
17,0
17.0
15. C
15.6
15.3
14.9
15.'
15.2
16.1
15.9
16.4
16.4
17.4
17.4
.:. 0
:' .0
1 7.3
- 7.3
CAPITAL CONSUMPTION
CURRENT SURP. ■ GROSS SAVING
2
3
4
5
6
7
8
9
10
13. C
l£,fc
1^.6
1C,6
7.3
-.3
1.0
14 .2
‘
.6.5
.6.4
K .6
7.6
,2
.1
15.6
23.7
22.4
11.5
1C.8
.9
1.3
17.0
26.3
25.9
12.2
13.0
.7
.5
15.6
23.5
20.5
11.1
7.9
1.5
2.9
14.9
23 . C
21.9
11.3
9.7
•B
1.1
15.2
24.1
23.?
11. €
10.4
1.1
1.0
15.9
24.0
23.9
11.8
11.6
.3
.1
16.4
27.1
26.3
12.0
12.7
1.5
.7
17.4
26.3
25.6
12.2
12.9
.5
.7
i ■.c
Fc .5
i -. e
11 . '
1? .9
.9
_ 4 •>
17.3
?6.5
?5.7
12.4
: 3.3
•
.8
GROSS INVESTMENT
CAPITAL EXPENDITURES
FIXEO CAPITAL
PLANT ♦ EOUIPMENT
MULTI-FAMILY
RESIO.
HOME CO NSTRUCTION
CHANGE IN INVENTORIES
5
6
7
8
9
10
11
12
13
14
15
16
17
-5.5
1.2
.5
.7
.7
•
-4.2
1.1
.5
.7
.7
•
-8.0
l.B
.6
.7
.7
•
-9.3
1.7
1.0
.7
.7
•
-7.7
.7
•
•
.7
.7
•
-8.1
1.3
•
.6
.7
.7
•
-8.9
1.6
.9
.7
.7
•
-8.1
1.6
•
.9
.7
.7
•
-10.6
1.5
.
.9
.7
.7
•
-8.9
1.6
-8.5
1.e
-9.2
1.8
.9
.7
.7
•
:. 1
1.1
.7
.7
-
NET FINANCIAL INVEST.
NET ACQUIS. OF FINAN. ASSFT
OEMANO DEP. ♦ CURRENCY
CONSUMER CREDIT
HISCELLANEOUS ASSETS
INSURANCE RECEIVABLES
EOUITY IN SPON. AGS.
H
12
13
14
15
16
17
IB
19
20
21
22
23
6.7
7.4
3.7
-.3
3.6
.4
5.4
6.4
4.9
.2
4.3
.4
9 .a
10.8
7.B
.8
6.2
.9
11.0
11.5
8.9
.6
7.0
1.3
8.4
10.4
6.5
.7
5.2
9.4
11.5
8.6
1.1
6.8
.8
10.5
10.6
8.5
1.5
6.0
1.0
9.7
8.8
7.6
-.1
6.7
1.0
12.2
12.3
6.5
1.4
6.0
1.1
10.5
11.3
8.7
.5
6.8
1.3
10.3
10.0
9.1
.2
7.5
1.4
11.0
12.4
9.5
.3
7.8
1.4
NET INCREASE IN LIABILITIES
CREDIT MARKET INSTRUMENTS
MORTGAGES
HOME MORTGAGES
MULTI-FAMILY
COMMERCIAL
18
19
20
21
22
23
24
26
2.0
1.8
.4
1.2
l.B
.8
2.3
.3
1.4
2.5
l.B
1.1
1.6
.4
2.2
-.9
3.7
.1
2.1
.5
.4
.5
2.9
•
26
27
-.7
•
.6
-1.7
-1.8
-.1
-.4
-.1
-1.3
-.8
-l.B
-.6
-.2
.1
-.1
1.0
-.3
.1
-.6
-.1
.2
.1
-1.0
-.4
.7
.?
•
BANK LOANS N.E.C.
OTHER LOANS
TRAOE DEBT. NET
PROPRIETOR NET INVESTMENT
4
24
25
26
27
6 FEBRUARY 1973
CORPORATE BU SI NE SS
CORPORATE BUSINESS
6
SECTOR ST AT EM EN TS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
SEASON AL LY ADJU ST ED ANNUAL RATLS
1969
1970
1971
&
SE AS O N A L L Y ADJUSTED ANNUAL RATES
I
1
1972
1971
I
II
IV
III
I
I
1972
I
II
III
IV
NONF IN AN CI AL CO RPORATE BUSINESS
P R OF IT S BEFORE TAX
- P R OF IT S TAX ACCRUALS
- NET DIVI OE NO S PAID
* U N D I S T RI BU TE D PROFITS
♦ FGN, B R AN CH PROFITS
♦ INV. VALU AT IO N ADJ.
♦ CA PI TA L CONSUMPTION ALL.
* GR OS S INTERNAL FUNDS
1
2
3
A
S
6
7
S
67*9
33.6
20.7
13.6
2.5
•5.1
49.9
60.8
55.1
26,8
19.9
8.4
2.3
•4.4
52.7
59.1
60.7
29.4
19.5
11.9
2.6
-4.7
57.3
67,1
70.1
32.8
20.4
16.9
2.5
-6.0
64.3
77.7
59.9
29.9
20.1
9.8
2.2
-4.7
54.8
62.1
61.7
30.8
19.2
11.8
2.8
-4.4
56.5
66.6
62.0
29.4
20.0
12.6
2.2
-5.8
58.2
67.2
59.3
27.3
18.5
13.4
3.0
-3.9
59.9
72.4
66.3
31.0
20.2
15.0
2.3
-6.5
61.7
72.5
68.2
32.0
20.2
16.0
2.5
-5.5
64.8
77.7
71.1
33.4
20.2
17.5
2.6
-6.1
64.9
78.9
75.0
34.9
21.1
19.0
2.6
-5.9
65.9
81.6
9
10
11
12
13
14
48.3
84.0
77.3
74.3
3.0
6.7
52.1
84.6
79.8
76.5
3.4
4 •8
47.3
85.2
84.1
78.8
5.3
1.1
67.7
103.2
98.1
91.1
7.0
5.0
49.8
82.4
81.4
76.4
4.9
1.0
55.2
87.6
83.7
78.6
5.1
4.0
40.6
83.2
84.4
78.8
5.7
-1.2
43.8
87.7
87.0
81.5
5.4
.7
62.0
94.8
95.5
88.4
7.1
-.7
63.0
100.1
96.5
90.1
6.4
3.6
72.0
106.3
96.2
91.7
6.5
8.2
73.9
111.4
102.4
94.2
8.2
9.0
GR OS S INVESTMENT (10 ♦ 15)
C A PI TA L EX PENDITURES
FI X E D INVESTMENT
PLAN T AND EQUIPMENT
RE SI DE NT IA L CONSTRUCTION
CH AN GE IN INVENTORIES
15
16
*35.8
21.1
-32.5
10.9
-37.9
21.7
-35.5
30.5
-32.5
23.6
-32.5
23.2
-42.7
25.3
-43.9
14.0
-32.8
29.2
-37.1
23.0
-34.3
27.3
-37.6
42.4
15
NET FI NA NC IA L INVESTMENT
F I NA NC IA L USES OF FUNDS.NET 16
17
18
19
20
21
22
-.5
1.5
-2.4
•1.3
2.7
•1.0
-1.0
.3
1.7
-2.9
•6
10.6
4.5
.6
2.7
1.8
1.0
8.4
4.1
2.9
-1.5
2.0
1.0
7.9
4.1
2.2
« 98
1.4
1.0
13.7
8.9
4.8
4.9
-5.3
1.0
13.6
1.6
2.5
3.6
4.9
1.0
7.4
4.1
-6.9
3.1
6.2
1.0
6.1
5.6
1.8
-6.4
4.1
1.0
7.3
-.1
2.6
.8
2.7
1.0
5.7
3.7
4.1
-.4
-2.6
1.0
15.0
7.3
2.8
.1
3.8
1.0
LI Q U I D ASSETS
DE MA ND DEP. AND CURR.
TIME DEPOSITS
U.S. GOVT. SECURITIES
OPEN-MKT. PAPER
STATE AND LOCAL OBLIG.
17
18
19
20
21
22
23
24
25
26
27
26
29
1.3
17.3
3.0
2.2
-.4
1.1
•1
1.4
6.2
4.3
3.6
*.4
.9
.1
2.0
4.8
5.1
3.4
.4
1.2
t
2.3
16.4
3.3
1.5
.5
1.3
•
1.5
7.9
6.4
4.1
1.1
1.1
•
1.9
1.8
5.8
4.4
.1
1.3
t
1.9
3.6
6.2
4.3
•6
1.3
•
1.9
2.8
2.0
.7
•
1.2
•
-.8
17.7
6.1
4.0
.7
1.3
• -
2.3
14.5
-1.1
-3.2
.8
1.3
•
1.8
15.2
4.6
2.8
.5
1.3
•
5.4
18,3
3.7
2.4
.1
1.2
•
CO NS UM ER CREDIT
TRADE CREDIT
MI SC EL LA NE OU S ASSETS
FG N DIRECT IN V E S T M E N T (1
FGN. CURRENCIES
INSURANCE RECEIVABLES
EQ. IN FED. SPON. AG.
23
24
25
26
27
28
29
30
31
32
33
56.9
40.2
4.3
35.9
43.4
39.8
6.8
33.0
59,6
' 48.6
13.4
35.1
65.9
54.6
12.6
41 .9
56.1
45.5
9.0
36.5
55.6
48.5
15.7
32.8
68.0
57.5
17.0
40.5
57.9
42.8
12.1
30.7
62.0
48.3
10.5
37.8
60.1
56.1
16.2
39.9
61,6
48.1
12.2
35.9
79.9
65.8
11.6
54.2
FINAN. SOURCES OF FUNDS.NET
NET FU ND S RAISED IN MKTS.
NET NEW SHARE ISSUES
DEBT INSTRUMENTS
30
31
32
33
34
35
36
37
36
12.1
4.8
-•3
1.2
3.6
20.3
5.3
.2
1.5
3.6
19.4
11.2
.8
2.6
7.8
12.9
15.3
.6
2.7
11.9
24.1
8.7
.7
2.3
5.6
20.1
11.1
1.8
3.0
7.2
14.9
13.3
1.5
2.8
9.0
18.5
11.6
-.1
2.6
9.2
11.2
14.3
1.4
2.7
10.3
13.0
15.7
.5
3.1
12.0
13.5
15.6
.2
2.7
12.7
13.8
15.5
.3
2.5
12.8
C O RP OR AT E B O N D S (1)
MO RT GA GE S
HOME MORTGAGES
MULTI-FAMILY
34
35
36
37
38
11.4
.6
1.7
-1.3
1.0
3.8
.3
2.8
-3.3
1.8
.3
11.4
1.3
-.5
•
.4
-2.9
2.8
.3
6.2
1.9
4.2
•
6.5
4.3
.3
.1
10.0
-3.2
-.1
.1
23.0
-.7
2.4
.2
BA NK LOANS N.E.C.
o p e n -m k t p a p e r
FI NA NC E CO. LOANS
U.S.GOVT. LOANS
"16
39
40
41
42
12.)
2.7
4.2
•1
2.3
2.6
2.3
.3
3.3
-1.8
2.8
.2
43
44
45
•3.3
15.2
4.8
-2.7
.6
10.8
3.4
4.8
3.4
3.6
46
47
46
12.5
2.2
37.1
6.9
3.3
31.3
19.8
.6
27.7
10.0
49
50
51
49.5
138.3
42.7
48.7
143.2
39.0
48.4
127.8
41.2
2.8
.1
3.0
10.8
1.9
1.1
6.8
.8
-l.i
-1.4
2.8
5.8
4.8
9.3
.9
13.4
-.6
-2.5
8.9
-2.5
1.3
11.0
1.2
2.5
9.9
1.7
5.6
33.7
12.3
1.1
29.2
11.4
3.3
24.2
26.7
.8
28.8
28.6
-2.0
28.8
10.5
4.4
31.3
14.7
5.6
35.9
7.0
4.2
33.8
7.8
8.3
33.7
46.8
132.8
40.7
50.0
132.6
44.3
49.9
131.5
37.4
47.4
123.8
48.6
46.1
121.0
35.0
46.6
130.7
39.9
46.9
128.8
39.9
47.0
134.7
33.6
46.6
136.5
48.6
•
commercial
1
2
3
4
5
6
7
8
9
10
11
12
13
14
39
40
41
42
PR OF IT TAX LIABILITY
43
44
TRADE DEBT
MI SC EL LA NE OU S LIABILITIES 45
discrepancy
me mo- net trade credit
prof its tax payments
46
47
48
PE RC EN T RATIOS!
E F F E CT IV E TAX RATE
CAP. OUTLAYS/INT. FUNDS
CR.MKT. BORROWING/CAP.EXP.
49
50
51
(1) FO RE IG N INVESTMENT EX CL UD ES AM OU NT S F I N A NC ED BY BONO ISSUES ABROAD*
AND BOND ISSUES OU TS ID E THE U. S. ARE EX CL UO ED FROM FINANCIAL
SO UR CE S OF FUNDS ABOVE.
t’ rCtR UA RY 1973
eOVlDNMENTS
GOVERNMENTS
7
'
SECTOR STATEMENTS OF SAVINS AND INVESTMENT
(BILLIONS OF DOLLARS)
SEASONALLY A D JU ST ED AMNUAki RATtS
.
—
-
SE AS ON AL LY AD JU ST ED ^ANNUAL^RATES
-
1969
t
1970
1971
1972 I
1971
I
II
I
III
IV
I
1972
I
II
III
IV
STATE AND LOCAL GOVERN ME NT S - GENERAL FUNDS
1
2
3
92,1
27,6
111,2
102,2
32,8
122,5
9,6
2.8
113,1
38.»
135.8
12.8
4.8
4
5
7.8
.7
6
5.0
6.8
6.8
7
* 4,4
-3,9
-2.1
8
-7.5
9
10
Jl
12
13
11
«6.5
2.6
*3.1
2 Il
- 5,9
71
s.2
15
35
3
ll
17
Ji
19
20
21
17
1,8
1,8
-.5
•
-2,0
-2.0
-5 .4
15.6
7.8
.5
7.2
7.7
6.9
6 .t
.8
22
23
24
25
26
27
28
29
6.8
9,9
-.1
10,0
-2.3
-.2
.1
-,2
1.0
1.8
126.8
48.3
148.9
13.9
12.3
7.4
4.8
108.2
36.0
130.8
11.5
2.0
7.8
-5.8
111,4
38.1
133.3
11.9
5,8
7.4
-2.4
114.6
39.3
135.7
12.0
6.2
6.0
.2
118.1
40.6
140.2
12.4
6,0
6.2
-.2
122,1
42.7
143,7
14,0
7,1
3.1
4.0
126,0
48,6
146.0
13,9
14,8
11.2
3.5
128,3
45,1
*50,2
13,8
9,4
7.3
2.1
1.8
16.8
7.1
2.5
4.6
9.3
8.7
8.0
-10.1
15.2
9.1
-.9
10.0
6.0
7.0
7.0
•
-,4
-5.6
14.2
1.5
-.2
1.8
12.4
9.8
-4.7
15.9
6.9
.9
6.0
-1.4
17.1
13.0
2.2
10.8
3.6
3.4
2.6
1.9
18.6
9.7
5.8
3.9
8.4
8.2
7.8
.3
-.1
.4
.3
1.5
13.6
7.5
.4
7.1
5.6
5.5
5.2
.4
-.5
.5
.5
-1.4
15,8
5.5
1,0
4.5
9.8
8.7
7,3
1.4
.3
.8
-.1
.6
.6
-.6
-.6
8.8
8.4
7.5
6.7
1.4
-.4
3.8
3,8
.8
.8
.2
1.1
1.1
-.2
.4
.3
-.6
-.9
.3
.5
.1
.3
.2
.6
.5
9.1
8.7
7.9
2.6
5.4
7
14.4
13.9
13.8
3.8
10.0
1
19.8
19.3
19,6
4.2
15.4
-.3
.4
15.1
U .6
14.4
•
14.4
.2
.5
25.3
24.9
24.5
7.8
16.7
.4
.4
21.8
20 .6
20 .2
4,6
15.6
.♦
.5
.4
.4
20.6
20.2
19.2
4.6
14.6
1.0
.4
18.5
18.0
17.7
1.9
15.8
.4
.5
16.7
16.2
15.1
2.4
12.7
l.l
.5
2,1
3.6
3.4
3,1
4.3
3.2
4.8
1.1
2.1
.5
.8
.7
130,8 TAX RE CE IP TS
56,8 SOC.INS.* GRANTS RECD.
1? ? #? ?A!?C ? * 2 ™ 2 ! DS
14.1 NET INTEREST ♦ TR ANSFERS PAID
17.8
NET SURPLUS. NIA BASIS
8.1
LESS -R ET IR EM EN T CR. TO HM.
9.8
EQUA LS -G RO SS SAVING
5.1
19.3
5.6
2.6
3.0
13.2
12.4
11.5
1.0
.1
.7
.7
NET FI NA NC IA L INVESTMENT
NET ACQ.OF FINAN. AS SE TS
TOTAL DE PO SI TS ♦ CURRENCY
CURR. AND DE MA ND DEPOSIT
TIME DEPOSITS
CREDIT MKT. INSTRUMENTS
U . S. GO VT .S EC UR IT IE S
DIRECT
U.S.G. AGENCY SEC.
STATE ♦ LOCAL SEC.
OTHER CR.MKT .I NS TR UM EN TS
CO RPORATE BONDS
HOME MO RT GA GE S
.5 TAX RE CE IV AB LE S
.5
12.2
11.7
12.9
-2.6
15.5
-1.2
.5
17.2
16.7
16.1
1.0
15.1
2.1
3.5
14.2
1
2
?
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
NET INCR.IN LIAB IL IT IE S
22
13.8 CR EDIT MKT. BORR OW IN G 23
13.5 STATE ♦ LOCAL OBLIG. 24
-.8SHOR T- TE RM
25
14.2 OTHER
26
.3 U.S.GOVT. LOANS
27
.5TRADE DEBT
28
.6
.5
4,6 DISC RE PA NC Y
29
EMPLOYEE RETI RE ME NT FUNDS ARE IN INSURANCE SECTOR.
U.S. GOVERNMENT
1
2
3
4
5
6
7
8
9
10
11
12
196.4
198,2
86.6
88,1
63.3
33.9
20.9
55.0
246.8
105.9
48.4
13,6
78.8
-18.4
3.2
-21.7
- 21.6
- 1.0
- 1.1
1.9
•
197.3
94.8
36.6
>9.0
46.9
191,6
92,4
30,4
19,3
49,5
199,1
89,8
33.1
20.5
55,9
228.3
108.8
36.1
189.2
98.8
37.2
13.1
40.8
204,5
96.5
45.3
14.6
48.1
-12.9
2.5
-15.4
220,8
-15,8
•
2,5
8.1
1.6
13
6.5
14
15
16
17
18
19
6.1
97,8
47,0
13,6
62,4
-21,7
2,9
- 24,6
20.1
2.9
•1.3
,7
3,5
2.8
-.1
2.6
-25.3
3.8
3.2
3.2
•
•
3. a
21
22
• 2,6
-3.0
-2.3
1.1
-1.3
-3.7
-.6
23
24
25
26
27
28
29
-2.5
-3.6
-.4
-.9
-2.4
29.1
25.5
2.4
23.6
-.5
2.9
20.6
30
31
,4
39,2
--------
20
3.7
1,1
2.2
.3
-.2
2.1
262.9
104.5
59.5
13.7
85.2
-25.7
4.4
-30.1
TOTAL EXPENDITURES. NIA BASIS
GOODS AND SERVICES
G R AN TS AND OO NATIONS
NET INTEREST
INSURANCE BE NEFITS
NET SURPLUS. NIA BASIS
LESS -I NS UR AN CE CREDITS TO HH
EQUA LS -6 R0 SS SAVING
-25.2
10.9
-16.9
- 11.2
-11.9
3.2
•
.4
-25.4
-3.6
-14.2
-3.3
-4.4
2.9
-
.1
2,8
-30.0
14,0
11,9
1.5
•
— .8
2.3
-l.l
NET FINAN, INVESTMENT
NET ACQUIS, OF FINAN, ASSET
DEMAND DEPOSITS ♦ CURRENC
CREDIT MARKET INSTRUMENTS
AGENCY SE CURITIES
MO RTGAGES
OTHER LOANS
E XCESS OF TAX ACCRUALS
OVER RECEIPTS
OTHER FINANCIAL ASSETS
222.2
96.3
49.4
13.6
62,8
-23,8
3,4
-26.4
97.9
47.7
13.6
63.0
-23.1
2.5
-25.6
- 20,2
-13,1
-14,4
4.9
•
•
5.0
-29.3
15.5
-26.4
93.8
31.1
.2
11.8
3.2
3.9
•
.4
3.5
2.1
12.1
1.8
-
-
2.1
-.2
2.0
.5
-4.1
5.4
-5,5
•6
-4,3
- 2.0
- 1.0
-1.9
•#6
-4.1
.4
-.7
- 1.0
44.8
40.6
2.7
38.2
28.0
25,9
2.4
23.1
.3
2.5
-.3
36.1
31.4
5.7
5.4
3.2
21.9
17.5
3.4
10.9
6.3
3.1
-.1
2.2
12.6
.6
3.3
1.4
1.4
1.5
4.4
4.6
2.7
- 1.1
-.1
-.1
1.6
2.9
28.9
.8
-2.7
33.1
.7
36.0
-.5
39.3
-.3
3T.4
-.1
.6
.1
,4
33,4
.7
32.0
•
37.3
1.7
33.4
3.0
3.2
241,6
105,4
41,6
13.6
80.9
- 11.8
2.7
-14.5
221.2
,6
11.0
246.4
108.1
47.3
13.8
77.2
-21.5
4.4
-25.9
212,4
96,2
47,1
14,0
55,0
-16,0
2,5
-18,5
2.5
12,6
-.1
17.3
3.3
236.2
105.7
45.3
13.1
72.1
-14.8
1.4
-16.2
20.8
56.1
1.6
.3
57.0
227.5
100.7
43.8
13.3
69.6
-24.7
3.3
-28.0
20.0
55.6
-.4
12.8
229,8
109,1
36,7
20,2
federally
-.2
3.4
•8
sponsored
•
32.6
2.6
28.0
.8
2.8
•
«
— .6
.6
1
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
9,2
3
9.0
10.8
9,9
17
3,4
2.8
-15
5 ;6
6.3
7.0
2.0
.9
-.8
1.8
7,0
7.8
6.1
6.1
8,4
7.9
-.4
9.3
7.1
-2.1
7.7
6.2
7.8
-.4
<5
.7
5.5
i ,2
-3.9
-4.6
-2.8
6.1
,7
2.3
3
-2.0
•
,7
-2.1
.8
.8
-.6
6.1
6,4
-1.9
4.5
1.3
2.6
6
7
8
9
10
I ;
3*9
4,8
2
,1
4.0
it
9.1
12
8.8
13
if
U
I*
9.1
- 3
4
.1
,7
1,3
10.8
8.7
8.7
1
2.1
.1
3.3
3.8
3.9
..5
•
.8
,5
-.6
.3
.4
*
.3
1.0
-1.8
-8,7
.1
.9
-9.8
6.2
5.9
5.9
3.2
-.7
-l.l
,3
4,0
1.3
-4.3
1,8
l.»
-,|
-5.*
-.3
.3
•
1.6
44,0
38,1
3.5
30.6
3.8
4,4
36.7
NET INCREASE IN LI ABILITIES
U.S. GOVT. SECURITIES
SAVINGS BONOS
DIRECT EXC. SVGS, BOS.
BUOGET AGENCY SEC,
LIFE♦RET IR EM EN T RESERVES
OTHER LI AB IL IT IE S
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
?1
22
23
24
25
26
27
28
29
D I SCREPANCY (13-14)
30
MEMO- CORP. TAX RECEIPTS. NET 31
CREDIT AGENCIES
2
;
c
TOTAL RECEIPTS. NIA BASIS
p e rsonal taxes
CORP. pr of it s tax accruals
INDIRECT TAXES
INSURANCE RECEIPTS
224.9
107.3
35.2
19.7
62.6
34,4
1.6
— — —
237.2
113.1
38.3
20,2
20.5
65.2
63,6
221.4
105.8
34.0
19.9
61.7
202.8
7.1
3.9
1.9
4.9
-2.9
2.5
.7
15.9
---------
199.1
89.8
33.2
.5
.9
7.9
7.4
7.6
..2 •
.6
-1.3
6.8
.9
.5
.2
.4
•
6.3
7.5
7.5
•
-1.2
.2
.8
-5,2
.3
.5
-6.0
-.8
6.3
.9
1.3
.2
.5
.6
6.8
8.2
5.1
5.1
8.8
8.8
1.8
-.1
-.6
.
-.1
,1 '
.1
CURRENT SURPLUS
.1
1.9
3,8 NET INCREASE IN ASSETS
5.9 CREDIT MKT. INTRUMENTS
-5,1
U.S.GOVT. SEC.
5.0 RE SI DE NT IA L MO RT GA GE S (1)
1.6
FARM MORTGAGES
4.4
OTHER LOANS
.1
TO COOPS (BC>
.6
TO FARMERS (FICBJ
3.7
TO S ♦ L'S (FHLB)
5.9
*.9
4.9
1.0
-.1
3.8 NET INCREASE IN LI AB IL IT IE S
4.7
CREDIT MKT. INSTR.
4,7
AGENCY SECURITIES (1)
U.S.GOVT. LOANS
-1.0 MISCEL LA NE OU S LIABILITIES
.1
DI SCREPANCY
.5
1
2
3
4
5
6
7
8
9
1C
11
1?
1?
14
IS
If
THIS GROUP CONSISTS OF FEDERAL H O M E LOAN BANKS. FEDERAL NATIONAL M O R T G A G E
ASSOCIATION. FEDERAL INTERMEDIATE CREDIT BANKS. BA NK S FOR COOPERATIVES.
ANO FEDERAL LAND BANKS.
THESE AGENCIES ARE PR IV AT EL Y OWNEO AND A9f
E X CL UD ED FROM U.S. G O V E ^ M E N T BUDGET ACCO UN TS AS C5F 1969 ANO FROM
U.S. GOVERNMENT FIGURES IN THESE ACCOUNTS FCP ALL YEARS,
(I) All GNMA-guaranteed securities backed by mortgage pools are
included in agency securities (line 13). The mortgage pools
are included in residential mortgages (line 5).
6 FEBRUARY 1973
BANKING SYSTEM
BANKING SYSTEM
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1969
1970
1971
SEASONALLY AOJUSTED ANNUAL RATES
1972
1
1
1971
I
II
monetary
1
•
1
|
IV
III
1972
I
II
IV
III
AUTHORITIES
•
-.1
•
-.1
-.1
-.1
•
•
•
•
.1
4.2
-.1
.1
#
•
4.2
4.2-
5,3
-1.4
•7
.8
.2
5.0
5.0
6.3
-.6
.5
.1
-. 3
8.6
8.6
2.0
••4
•7
••5
1.9
•2
.4
11.0
-.9
.5
-1.5
-1.2
14.1
13.8
3.5
-1.3
.6
.4
1.0
2.7
3.0
6.0
-1.1
.3
2.2
-2.2
6.6
6.8
10.6
•
.5
-.8
1.2
9.6
9.0
2.6
-2.2
1.1
1.1
-1.2
3.8
4.2
7.4
.7
.6
.3
5.6
5.9
-4.6
.4
.5
1.1
-.4
-6.3
-6.2
2.4
.3
.4
-5.1
9.1
-2.2
-2.4
4*1
•3
•1
5.3
2*1
••3
8.3
3.6
.5
1.9
- 2 .3
1*2
11.0
7*9
••8
3.5
•2.8
l.i
6.1
.5
•6
10.7
8.2
1.0
2.5
•
-1.6
7.4
2.7
1.2
-4.6
-2.6
1.8
2.4
-9.2
3.3
•5
••1
2.9
•4
-.4
•
3*5
•4
.9
.1
3.4
-.2
•1*1
••I
4.3
-.1
-.4
.2
5.2
-1.0
l.i
-.1
3.8
-.4
2.9
•
2.6
1.4
•
•4
2.0
-.8
-2.5
-.8
6.8
•6
•4
.1
2.5
.4
-4.4
-.2
1.6
-.8
2.1
.5
6.3
-.7
CURRENT SURPLUS
NET ACQ. OF FINAN. ASSETS
GOLD ANO FOREIGN EXCHANGE
TREASURY CURR. ♦ SDR CTFS.
F.R. FLOAT
F.R. LOANS TO DOMESTIC BANK
C R ED IT MKT, INSTRUMENTS
U.S. GOVT. SECURITIES
NET INCREASE IN LIABILITIES
ME MB ER BANK RESERVES
VAULT CASH OF COML. BANKS
DEMAND DEPOSITS AND CURRENCY
DUE TO U.S. GOVERNMENT
DUE TO REST OF THE WORLO
CURRENCY OUTSIDE BANKS
OTHER
1
2
3
4
5
6
7
6
9
10
11
12
13
14
15
COMMERCIAL BANKING (1)
. 3.7
1.9
3.8
1.1
3.9
1.1
4.0
1.2
4.0
1.0
3.6
1.8
3.9
1.2
4.0
1.3
3.6
1.3
4.1
1.3
4.3
1.2
3.9
1.2
22.1
17.9
18.9
•t,4
-.3
40.4
33.1
31.6
9.4
5.9
3.6
57.6
50.5
49.8
6.0
2.3
3.6
73.3
69 .8
65.3
3.7
1.1
2.6
64.8
42.4
43.7
6.8
4.7
2.1
61.9
54.§
55.1
10.4
7.6
3.4
54.9
45.0
43.7
-3.5
-6.6
3.0
49.2
59.9
56.3
10.2
4.4
5.8
60.4
62.2
57.3
-.1
-3.0
2.9
84.4
56.3
49.6
4.1
.1
3.9
61.7
65.1
64.8
2.1
1.8
.3
5.6
•2
•.1
3.8
2.4
13.9
10.7
•B
.9
1.6
23.9
12.7
1.3
5.7
4.2
24.7
7.3
1.3
7.6
8.4
25 .2
17.2
1.5
3.4
3.1
26.1
14.8
1.5
5.9
4.7
20.5
7.6
1.1
6.8
5.0
23.8
11.9
1.1
6.6
4.2
26.7
10.5
1.9
7.5
6.9
23.3
4.5
1.9
8.4
8.6
22.8
3.3
•9
8.2
1.9
4.4
2.0
19.9
4.8
14.4
.8
36.9
10.1
26.9
-.1
U.6
1.8
9.0
.9
IB.*
4.8
14.9
-.2
26.9
6.1
21.6
-.9
22.3
6.9
12.1
3.3
30.7
7.4
23.2
.2
22.2
9.5
14.0
-1.3
•
■ 1.1
.1
1.4
•
.8
.1
4.4
.1
-1.3
.1
-.7
-.1
1.3
-.1
3.8
.3
4.5
.2
6.6
.5
2.3
1.9
1.8
2.5
3.0
4.1
1.1
1.9
-1.1
2.5
2.1
7.1
7,5
7.9
-.9
13.4
-5.7
1.2
2.5
6.3
9.2
-19.0
-.9
-1.5
-3.0
2.7
21.5
5.3
•
5.3
38.7
8.7
2.9
5.8
55.1
14.9
2.2
11.6
71.3
19.2
.4
18.8
62.7
-.2
•14.8
14.6
58.4
24.7
11.5
13.2
52.5
1.0
.4
•6
46.6
30.4
11.9
16.5
-9.3
>2.5
3.0
.2
38.0
15.2
22.4
.4
41.4
7.9
33.2
.3
42.3
9.8
32.3
.2
60.9
5.8
54.9
.2
32.6
4.8
28.7
.2
32.4
18.2
13.8
.5
•
•
2.3
.1
4.2
.1
18.9
7.9
10.9
.8
.2
2.5
.1
-1.9
.3
-10.0
-6.9
-3.1
.1
-.3
1.1
.6
-.4
•
-1.3
-4.1
2,8
-.5
1.9
2.5
1.6
.7
-.2
3.7
1.3
2.4
-1.5
-1.2
7.5
.9
-2.6
.1
-1.2
10.3
9.1
.4
1.8
13.4
.4
.2
-.7
-13.9
-5.6
-8.2
.9
1.0
.3
.7
.»
-.2
CURRENT SURPLUS
PLANT ♦ EQUIPMENT
1
2
86.5
95.3
69.1
6.8
5.5
3.3
NET ACQ« OF FINAN. ASSETS
TOTAL BANK CRCOIT
CREDIT MARKET INSTRUMENTS
U.9. GOVT SECURITIES
DIRECT
ABENCY ISSUES
3
4
S
6
7
S
27.3
9.5
1.2
7.4
9.1
21.3
4.7
.4
7.3
8.9
OTHER SECURITIES ♦ MTS.
STATE ANO LOCAL OBLIG
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
9
10
U
12
13
35.5
10.5
26.1
-1.2
59.0
12.7
44.5
1.8
OTHER CR. EXC. SECURITY
CONSUMER CREOIT
BANK LOANS N.E.C.
OPEN-MARKET PAPER
14
15
16
17
.
.
CORPORATE EQUITIES
SECURITY CREDIT
18
19
.3
6.2
4.0
23.7
.4
• •8
-4.2
1.7
-5.9
-6.5
3.5
56.6
11.6
-7.6
19.1
82.3
2.9
-.3
3.2
59.1
18.4
.9
17.5
65.0
43.7
8.6
35.1
39.3
3.7
35.4
•2
37.6
-6,2
43.4
.4
47.6
10.5
35.7
1.5
45.3
21.5
24.9
-1.1
36.7
13.4
25.2
.1
TIME DEPOSITS
LARGE NEQ. CO'S
OTHER AT COMMERCIAL BKS.
AT FGN. BANKING AG.
27
26
29
30
2.2
-2.2
2.5
.2
.7
.1
15.7
5.0
10.7
-.6
1.?
-19.0
.3
.4
-5.7
-5.4
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1.1
-1.2
-3.0
3.6
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7.6
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23.7
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•
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1.1
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-4.2
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1.6
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-3.4
4.0
-7.4
-5.1
9.1
-6.5
1.9
1.1
.2
1.9
-1.6
3.5
F.R, FLOAT
BO RR OW IN G AT F.R. BANKS
OTHER INTERBANK CLAIMS
BANK SECURITY ISSUES
COMMERCIAL PAPER ISSUES
PROFIT TAX LIABILITIES
MISCELLANEOUS LIABILITIES
L U B . TO FGN. AFFILIATES
OT-ER
31
32
33
34
35
36
37
38
39
.2
.1
.6
.6
.5
1.3
VAULT CASH ♦ MEM.BK.RES.
OTHER INTERBANK CLAIMS
MISC. ASSETS
NET INCREASE IN LIABILITIES
DE MA ND DEPOSITS. NET
U.S. GOVERNMENT
OTHER
DISCREPANCY
(1) CONSISTS OF CHARTERED COMMERCIAL BANKS. THEIR DOMESTIC AFFILIATES.
EDGE A C T CORPORATIONS. AGENCIES OF FOPFIGN BANKS, ANO BANKS IN U.S.
POSSESIONS.
EDGE ACT CORPORATIONS A N D AGENCIES OF FOREIGN BANKS
A P P E A R TOGETHER IN THESE TABLES A S "FOREIGN BANKING AGENCIES'*.
20
21
22
23
24
25
26
40
6 FE8RUARY 1973
COMMERCIAL BANKING SUBSECTORS
COMMERCIAL BANKING SUBSECTORS
SUBSECTOR STATEMENTS FOR COMPONENT GROUPS IN COMMERCIAL BANKING
(BILLIONS OF DOLLARS)
9
SEASONALLY ADJUSTED ANNUAL RATES
_____ * 9 6 9 ___ 1971
1972 |
I
I
1971
II
|
m
IV
|
1972
I
II
m
iv
COMMERCIAL BANKS
1
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I
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*9 *2
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11
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11
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20
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18
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1,0
3,8
1.0
3,9
1.2
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1.3
3,6
1.3
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3.6
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2.6
60,7
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51,5
44,5
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57,4
58,7
54,9
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5.8
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62,7
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1,8
1.3
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9 1 *7
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9,1
5.8
3.3
NCT A C Q * 0F FINAN. ASSETS
TOTAL BANK CREDIT
CREDIT MARKET INSTRUMENTS 5
U *S * eovT SECURITIES
DIRECT
AGENCY ISSUES
6
7
B
}J*J
A
*8
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7.2
8.9
0 ™ * * SECURITIES ♦ MTB. 9
*T*T* ANO LOCAL OBLIG 10
CORPORATE BONOS
HOME MORTGAGES
OTHER MORTGAGES
11
|2
13
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4.2
0TMC"SECURITY 14
CONSUMER CREOIT
BANK LOAMS M.C.C.
OPEN-MARKET PAPE*
SECURITY CREOIT
15
14
1?
IB
1*4
5*1
J *2
1*1
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60.7
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32.7
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35.4
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21
22
M I K . ASSETS
23
mem * * tn L i m u m i
OCIIAIW K W M T I i MgT
U.S. O M C I M M N f
BTMCT
TtMC a » M 8 f T t
U* )S e n c S
omS
*
INTERBANK LlAfttLTIES
F.B. fLOAT
— mnm at t .r. bank*
DOI.OtP.Or FBM.BK.AB.
**•*
If
(0
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ft
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33
14
35
OCR. OF BAMMS IN US ^tts.
LtAMt m t M AFFlLIATft
LOANS m t M rtN.BK.At.
*
»
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4B
■•4.B
—2.4
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BANK B C C U t m I S M S
m t r i T TAK LtAtlLlTtCS
*•*
MlSCCLLANKtUt LlAttLXTICS
.4
•
1
?
INTERBANK CLAIMS
VAULT CAIN ♦ MEN.BK.RES.
0 9 . AT FBM. BANK {MB At.
LOAMS TO FBM. BANK SMB M ,
«T
32.3
54.9
4G.1
lJU
24.1
* 1*2
33.2
3.0
41.1
7.9
,J *8
12**
*•*
22.4
30
37.6
15.2
*2
*4
4 *7
CURRENT SURPLUS
PLANT ♦ EQUIPMENT
37
SB
1*5
2,5
I'1
2.0
2.B
-4.4
-*•*
4.7
•*
•*
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1.3
«t.4
-1.9
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-.7
-.11.3
-•*-.4
.8 MET ACtUIS. GT FfMMN. H B W
$
2
3
*»7
»8 »«T WCWAlf IN LIABILITIES
4
f
4
tiA». Tt m .
OTHCR
m m ***
DISOVANCT
41
42
43
44
DOMESTIC AFFILIATES OF COMMERCIAL BANKS
1
2
•6
*?
-.1
•*
VI
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4
-1*3
,3.9
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1.0
5
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1,8 U l
-2.3-.3
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-«9
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17.6
-1.1
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-.1•!
-1.0
.7
BANK LtlANS N.I.C.
LOANS Tt ATTILIATC BANKS
COMNCR C IAL
ISSUES
MISCELLANEOUS LIASILITIES
EDGE ACT CORPORATIONS AND AGENCIES OF FOREIGN BANKS
I
t
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2.6
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- 1.1
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•
-.9 NET ACt. OT FINANCIAL ASSETS
2.1
CREOIT MARKET INSTftUNENTS
* '3
U.S.tOVT. SECURITIES
STATE*LOCAL GOVT. SEC.
CORPORATE
V
V W P W H H H BONOS
sunus
2.5
SANK
BANK LOANS N.E.C.
_
nag.....
bimp.
OPEN-MKT.
PAPER
•
-3.0
-2 *^
2.3
CORPORATE EOUITIES
SECURITY CREOIT
OEM.tEPOSlTS AT COM. BANKS
TIME OEP. AT CON. BANKS
LOANS TO BANKS
MISC. ASSETS
I
2
3
4
5
4
7
8
«
10
U
12
13
-.9 NET INCREASE IN LIABILITIES
.1
OEM. OEP. IN MONEY SUPPLY
.1
TIME DEPOSITS
-i.l
OEPOSITS OF BANKS
.3
LOANS FROM BANKS
14
15
16
17
18
MISC. LIABILITIES
OUE TO FGN. AFFILIATES
OTHER
19
20
€T ACQ. OF FINANCIAL ASSETS
OEPOSITS AT BANKS
CREDIT MKT. INSTRUMENTS
U.S.GCVT. SECURITIES
STATE ♦ LOCAL GOVT. SEC.
CORPORATE BONDS
MORTGAGES
HOME MORTGAGES
COMMERCIAL MORTGAGES
MISCELLANEOUS ASSETS
1
?
3
4
5
6
4.1
I *7
4.4
2.7
l.B
1.0
-.3
-9
-1.2
•3
.1
.2
.2
.1
.2
.
,1
.
.I
.1
.2
•1
.2
•
.1
•
,1
.1
21
BANKS IN U. S. POSSESSIONS
1
2
3
4
5
6
7
8
9
10
1.1
•
.2
•
•
•
•2
• '
.1
.9
.5
.1
.1
•
•
•
.1
.1
•
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.5
11
1.1
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.1
t
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•
•
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.1
.2
•
•1
•
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•
•
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•
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•
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•
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•1
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•1
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•
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.
•
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•
•
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.
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•
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•
-
.3
.3
•
.2
•
.2 NFT INCR. IN DEPOSIT LlAB.
•2
7
B
9
10
11
• FEBRUARY 1973
NONBANK FINANCE SUMMARY
NONBANK FINANCE SUMMARY
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
10
SEASONALLY ADJUSTED ANNUAL PATES
SEASONALLY ADJUSTEO ANNUAL RATES
1971
1971
1972
|
I
II
1972
H
I
III
IV
I
I
II
III
PRIVATE NONBANK FINANCIAL INSTITUTIONS - TOTAL
1
2
a
-.2
•8
46.5
4
5
4
•1
••1
T
12.•
39.0
t
II
II
It
13
14
15
l«
•T
It
It
to
ai
tt
ts
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as
t«
17
at
-l.r
1.0
6.8
. t.s
l.t
4.1
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-t.4
•4
.9
54.5
1.5
.2
11*3.
3S.7
4.0
l.t
11.9
7.1
1*4
.4
4.9
-1.4
4B.9
st.t
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1.6
•
2 .1
1.7
4.7
4.0
98.1
.9
19.2
56.0
13.8
74.1
9c4
93.7
44.2
23.7
11.9
4.9
1.4
9.3
.9
.9
2 .0
-t.9
-.2
-t.7
1.3
9.9
-2.0
.1
9.4
2.4
1.4
.2
9.1
13
1.0
— 9
'
3.8
1.4
4.4
1.8
4.0
.5
3.9
1.1
4.4
1.1
4.4
1.1
91.2
2.0
.2
.6
76.2
-.2
.2
70.4
1.0
.1
.1
83.3
-.1
.1
-.8
94.1
-1.4
.1
1.2
98.9
2.2
.1
.5
97.8
2.7
-.1
.6
101.6
.1
-.3
-.1
2 1 .8
19.9
94.9
18.1
48.3
2.4
3.2
8.5
20.2
11.2
3.7
-.9
.7
.9
1.4
17.2
42.3
-2.3
2.0
19.1
19.6
19.3
4.8
3.7
2.6
.9
1.4
13.5
66.3
10.9
1.2
19.4
18.1
12.5
5.4
2.4
7.8
.5
4.0
16,9
73.1
3.4
2.2
13.4
24.3
19.7
9.3
4.6
9.7
.5
.4
10.3
79.9
3.4
1.4
14.1
32.0
19.9
9.3
4.2
9.6
.5
2.3
14.8
80.8
3.8
3.0
19.1
32.7
14.8
4.8
2.4
9.0
.9
.4
CO RPORATE SHARES
CREDIT MKT. INSTR.
U.S. tOVT. SECURITIES
STATE ♦ LOCAL OtLIt.
CORPORATE ♦ F4N. BONOS
HOME MORTtAtES
OTHER MORTtAtES
CONSUMER CREDIT
OTHER LOANS
SECURITY CREDIT
TRADE CREDIT
MI SCELLANEOUS ASSETS
7
8
9
10
11
12
13
14
15
16
17
18
71.0
39.4
21.2
4.1
4.0
1.7
-t.O
2.4
1.9
80.1
33.9
24.4
10.4
4.3
.8
-.3
9.7
9.7
88.5
58.4
16.8
2.9
9.9
.2
6.1
-9.3
-3.3
-4.0
92.7
42.5
29.1
7.5
4.2
2.0
-.7
2.1
1.5
.4
94.0
49.0
23.3
19.0
9.9
1.9
7.1
.9
-1.1
44.4
38.7
tS.7
20.7
2.9
.9
8.8
8.9
4.9
3.7
NET INCREASE IN LIABILITIES
TIME ♦ SVtS. ACCOUNTS
INSURANCE ANO PENSION RES.
CREDIT MKT. INSTR.
FINANCE CO. BONOS
MTt. LOANS IN tROCESS
BANK LOANS N.E.C.
OTHER LOAMS
FINANCE CO. PAPER
FMLt LOANS
19
20
21
22
t3
24
29
26
27
1.1
96.4
9.1
1.7
17.9
13.2
10.0
.8
3.7
1.9
.9
7.9
86.7
52.0
25.4
4.0
4.9
l.t
4.9
-8.9
-7.0
.4
3.2
.6
12.4
17.4
13.4
2.9
4.8
2.8
.9
-3.4
71.9
42.4
24.7
-3.4
2.3
3.7
1.4
- 1 0 .8
-1.0
-1.8
•4.8
CURRENT SURPLUS
PHYSICAL INVESTMENT
1
2
NET ACQUIS. OF FINAN. ASSETS
OEM, DEPOSITS ♦ CURR.
TIME OEPOSITS (MSt)
SVGS. ♦ LOAN SHARES (CR U>
3
4
5
6
1.3
.6
— 1
4.5
-.2
4.4
.4
7.7
-2.0
1.0
.2
6.2
2.7
-2.5
-.1
7.6
2.0
-.2
— 1
6.5
2.5
4.0
-.5
5.5
-2.7
5.2
.1
7.7
2.0
4.2
.3
7.0
.4
2.4
.3
7.7
-.3
5.8
.7
8.2
-.6
-1.3
-1.7
-2.6
3.0
-.7
-2.1
-3.5
-.9
1.2
DISCREPANCY
current
i
I if
1»
I<
I >-»
1X
i•
1 U»
I
1
(
I
I
1
i
1
tt
•8
11
It
2.0
77.3
44.8
t4.0
4.3
3.8
3.0
3.3
-•*
1.1
••2
.5
2.0
•5
l.t
11.9
3.7
2.5
-.1
14.9
27.3
19.2
5.8
3.9
4.0
.9
2.4
17.7
3.4
1.3
1.3
BO.3
.7
.2
3.1
l.t
*4.9
•S
s.t
. T.t
14.1
42.4
4.1
3.9
1.4
INVESTMENT CO. SHARES
SECURITY CREDIT
TAXES PAYABLE
miscellaneous
liabilities
29
30
31
32
39
ANO LOAN ASSOCIATIONS
1
1.0
1.1
1.5
1.7
1.4
1.5
1.4
1.6
1.6
1.7
1.7
1.7
2
3
4
9
4
7
I
9
9.3
— 2
t.t
.3
7.7
l.t
•
-.2
14.1
.3
11.3
1.2
7.2
3.0
•
2.5
30.1
.9
29.4
9.2
18.0
4.1
.1
.2
37.8
.4
36.3
4.2
22.9
8.9
.2
•9
37.8
.1
32.3
14.2
13.0
5.1
-.1
9.4
26.5
1.0
30.0
4.0
18.4
7.5
.1
-4.5
29.8
.9
29.6
2.9
21.3
9.6
.1
-.6
26.5
.1
25.9
.2
19.4
6.3
.1
.5
37.1
.1
34.8
9.1
16.6
8.8
.2
2.2
35.7
.9
39.0
2.0
24.1
8.7
.1
-.2
40.2
1.0
37.9
2.9
29.8
9.0
.2
1.3
38.1
.4
37.5
2.9
25.2
9.2
.2
.2
NET ACO. OF FINAN. ASSETS
OEMANO DEPOSITS ♦ CURRENC
CREDIT MKT. INSTR.
U.S. 80VT. SECURITIES
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
MISC. FINANCIAL TRANS.
2
3
4
5
6
7
8
9
10
11
>2
13
14
19
16
8.4
3.9
4.1
•
4.0
.1
.4
13.3
10.9
1.8
.6
1.3
-.1
.6
28.9
28.1
•
2.0
-2.7
.7
.8
36.7
32.8
1.9
1.1
•
.8
1.8
36.9
36.9
-.7
1.8
-1.8
-.7
1.0
25.8
28.4
-4.4
3.7
-9.8
1.7
1.7
28.8
25.0
3.0
1.7
.9
.4
.8
24.2
22.4
2.1
.8
•
1.3
-.3
36.0
41.4
-7.1
.2
-6.0
-1.3
1.7
39.0
29.4
4.3
2.0
.6
1.7
1.2
39.1
33.2
4.0
1.5
1.9
•6
1.9
36.6
27.3
6.7
.9
3.7
2.1
2.5
NET INCREASE IN LIABILITIES
SAVINGS SHARES
CREDIT MKT. INSTR,
MTG. LOANS IN PROCESS
FHLB ADVANCES
BANK LOANS N.E.C.
MISCELLANEOUS LIABILITIES
10
U
12
13
14
IS
16
17
It
.1
4.4
.4
•
.4
-2.1
.6
.3
.5
-6.4
.8
-4.3
.7
2.1
-.6
.1
.5
-7.1
1.0
1.7
.7
1.6
.2
4.8
surplus
DISCREPANCY
MEMO- f h l b LOANS LESS OEP.
1
17
18
MUTUAL SAVINGS BANKS
1
CURRENT SURPLUS
1
.3
.4
.5
.6
.5
.5
.5
.6
.6
.6
•6
.6
3.1
4.7
.1
.2
.3
3.8
.2
1 0. 6
13.8
.2
.2
.4
12.3
-.1
.2
7.7
.9
2.1
.5
1.1
.8
12.3
-.3
.2
.4
11.3
.3
6.0
1.0
2.8
.4
-.2
.6
7.2
-.3
.1
.4
6.1
.7
.1
1.0
1.2
2.7
.1
.2
.9
9.1
.3
.1
.7
7.7
-.2
.2
2.5
1.8
3.3
.1
15.0
-.2
.1
.7
11.4
.2
.5
5.3
2.2
2.2
1.1
-.1
3.1
11.1
.1
.1
.8
10.4
.4
.5
3.4
3.0
2.7
-.1
.5
-.3
10.6
.2
.5
9.3
.4
.2
4.3
1.2
2.7
.3
.3
.6
11 .5
.1
-.1
.7
9.9
.2
.5
3.0
3.1
2.6
.3
.1
.9
.5
-.1
.5
9.3
.2
.8
2.1
3.3
2.7
.3
-.1
9.3
.1
-.3
.7
8.4
.1
.2
1.4
3.9
2.7
-.2
.2
.5
NFT ACO. OF FINANCIAL ASSET
DEM. DEPOSITS ♦ CURR.
TIME DEPOSITS
CORPORATE SHARES
CREDIT MKT. INSTR.
U.S. GOVT. SECURITIES
STATE ♦ LOCAL GOVT. SEC.
CORPORATE BONOS
HOMF MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
OTHER LOANS
MI SCELLANEOUS ASSETS
?
3
4
5
ft
7
8
9
10
11
12
13
14
9.9
.1
9.9
.4
12.5
11.0
.2
7.4
.3
8.5
.1
13.1
.5
9.9
.4
8.0
.4
7.9
.4
SAVINGS DEPOSITS
MI SC EL LA NE OU S LI AB IL IT IE S
15
16
-.1
.2
2.9
-.5
.3
1.4
1.3
.2
.3
1.3
.9
.9
.3
.2
.3
2.6
.2
.9
DISCREPANCY
-.8
.2
CREDIT UNIONS
1
2
3
4
5
6
7
1 .4
•
•
1.5
.1
1.4
•
1.7
.2
•
1 .5
.5
.9
.1
8
1.4
1.7
2. 4
•
•
2.9
1.1
1.7
.1
ACOUIS. OF FINAN. ASSET
OEM. DEPOSITS ♦ CURR.
SVGS. ♦ LO A N SHARES
CREDIT MKT. INSTR.
U.S.80VT. SECURITIES
CONSUMER CREDIT
HOME MORTtAtES
3.4
.1
.5
2.8
.6
2.1
.1
3.0
.1
.6
2.3
1.1
1 ,Z
.1
3.0
•
.4
2.6
1.0
1.6
•
3.0
•
.1
3.0
1.1
1.9
•
2.6
•
-.6
3.4
1.4
2.0
.1
3.9
.1
1.2
2.6
.4
2.1
.1
3.2
.1
.5
2.6
.4
2.1
.1
2.9
.1
.6
2.3
.4
1.8
.1
3.5
.1
-.1
3.5
1.0
2.5
.1
net
3.4
3.0
3.0
3.0
2.6
3.9
3.2
2.9
3.5
CREDIT UNION SHARES
* FEBRUARY 1973
INSURANCE ♦ PE NS IO N FUNDS
INSURANCE
♦ P t 'NMON HINDS
11
SECTOR ST AT EM EN TS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
S t A SONALLV
SEASONALLY ADJUSTED ANNUAL RATES
1971
1970
1971
1972 I
I
II
III
IV
ADJUS T E D
ANNUAL
RATFS
1972
I
I
II
III
LIFE INSURANCE CO MPANIES
CURRENT SUPPLUS
PH YSICAL INVESTMENT
1
2
14.1
-.1
NET ACQUIS. OF FINAN. ASSETS
DEM. DE POSITS ♦ CURR.
3
4
2.1
12.3
-.1
•
6.4
-2.4
4.0
4.4
.8
3.0
10.4
.2
.2
6.4
-1.3
4.7
.2
.9
CORPORATF SHARES
CREDIT MKT. INSTRUMENTS
U.S. GOVT. SECURITIES
STATE AND LOCAL OBIIG.
C O RP OR AT E BONDS
HOME MO RT GA GE S
OTHER MO RTGAGES
OTHER LOANS
M I SC EL LA NE OU S ASSETS
5
6
7
ft
9
10
11
12
13
12.4
6.7
3.8
1.9
12.7
6.8
4.0
1.9
12.8
7.0
4.0
1.7
NET INCREASE IN LI AB IL IT IE S
LIFE INSURANCE RESERVES
PE NS IO N FUND RESERVES
OTHER LI AB IL IT IE S
14
15
16
17
-1.4
-2.4
-2.4
-1.1
DI SCREPANCY
18
1
2
.9
.8
.8
1.0
1.0
1.4
1.2
1.0
1.0
1.3
1.0
l.B
1.1
1.4
1.1
1.8
1.1
.5
1.2
1.1
1.2
1.1
1.3
1.1
3
4
9.2
•
9.9
.1
12.5
•
14.7
.1
12.8
.3
12.0
-.1
12.3
-.2
13.0
.1
14.5
-.7
14.9
1.2
15.2
•
5
6
7
8
9
10
11
12
13
1.7
6.7
-.3
•
1.5
-1.1
3.1
3.4
.9
2.0
7.0
.1
.1
1.5
•1.3
3.6
3.0
.8
3.6
8.1
-.2
.2
5.1
-2.1
3.3
1.6
.8
3.4
10.4
.1
-.1
6.8
-2.3
3.7
2.3
.8
4.5
7.2
-.6
•
3.6
-1.9
2.7
3.3
.8
3.4
7.9
-.1
.4
3.9
-2.1
2.7
3.2
.8
3.2
8.5
-.1
.3
5.6
-2.2
3.8
1.1
.8
3.5
8.6
.1
.1
7.4
-2.1
4.1
-1.1
•8
4.2
10.1
.5
9.1
-3.3
2.8
1.0
.8
4.2
8.6
-.3
-.7
5.1
-2.3
3.2
3.6
.8
14
15
16
17
9.2
4.8
2*9
1.4
10.2
5.1
3.3
1.7
11.8
6.6
3.3
2.0
12.6
6.8
3.8
1.9
11.3
6.1
3.3
1.8
11.8
6.6
3.3
2.1
12.1
6.8
3.3
2.0
12.0
6.8
3.3
2.2
12.4
6.9
3.6
2.0
18
.1
.1
-1.1
-1.8
-1.8
-.4
-.5
-1.7
PRIVATE PE NS IO N FUNDS
1
2
6.3
•
7.1
.2
7.3
-.2
5.6
-.3
8.2
.7
7.S
-1.3
5.1
.4
8.2
-.5
3.2
-1.0
7.4
-.1
5.2
.7
6,7
-.7
NET ACQ. OF FINAN. ASSETS
DEM* DEPO SI TS ♦ CURR.
1
2
3
4
5
6
7
8
5.4
.6
-.2
4.6
2.4
.2
2.1
.1
•
8.9
-1.6
-.3
-.7
-.6
•k
6.8
-.5
.5
-.4
• f6
••4
9.6
-2.9
-.1
-2.2
-.6
.8
11.6
-2.3
-l.t
-.4
-.8
- .4
6.9
• 2.6
*
-1.9
-.7
.3
7.5
1.6
•
1.9
-.4
-.3
7.7
-3.2
.9
-2.8
-1.2
-.3
8.6
-1.0
•
— .6
-.4
-.1
4.2
.8
.6
.8
-.6
-.5
6.9
1.4
.7
1.0
-.3
-.9
CO RP OR AT E SHARES
CREDIT MKT. INSTRUMENTS
U.S. OOVT. SECURI TI ES
CORP OR AT E BONDS
M0RT 6A 6E S
M I SC EL LA NE OU S
3
4
5
6
7
8
NET ACO.OF FINAN. ASSETS
DE MAND DEP. AND CURRENCY
•i
.3
STATE ♦ LOCAL 80VT. EM PLOYEE RE TIREMENT FUNDS
1
2
5.0
-.1
6.8
.1
6.8
-.1
7.4
-.1
7.8
-.1
7.4
.1
6.0
•
6.2
-.4
3.1
-.2
11.2
-.4
7.3
.3
8.1
••1
3
4
5
6
7
8
9
10
11
12
1.8
3.4
-.3
-.1
.1
-.1
5.5
3*1
.6
•
2*1
4.3
-.1
- .4
.3
-.3
6.8
3.9
.8
.2
3.2
3.6
-.8
2.9
4.5
-.2
-.1
-.1
-.3
5.0
5.0
-.1
.2
2.8
5.0
-1.1
-1.0
-.2
•
8.9
6.1
.1
.1
3.1
4.2
-1.5
-1.1
-.3
#
8.8
5.4
.3
.1
3.8
2.0
.6
.5
.1
— .6
5.8
2.8
-.9
.1
3.1
3.4
-1.3
-.4
-.9
-.2
8.0
3.3
1.6
.2
2.1
1.1
-.5
-.2
-.3
-.2
1.9
3.2
-1.4
.1
3.8
7.7
-.3
-.6
.3
.1
7.8
6.8
1.0
.2
3.1
3.7
-.4
•
-.4
— .6
4.7
4.9
-.2
.2
2.7
5.3
.3
.3
•
-.4
5.4
5.3
.1
.2
-.3
-.2
7.9
4.4
.3
•k
CO RP OR AT E SH AR ES
CREOIT M K T . INSTRUMENTS
U . S . O O VT .S EC UR IT IE S
DIRECT
U . S . 6. AGENCY SEC.
STATE ♦ LOCAL OB LI GA TI ON
OTHER C R . H K T .INSTRUHENTS
CORP OR AT E BONOS
MORT GA GE S
OTHER
OTHER INSURANCE COMPANIES
1
-.1
.8
1.5
1.8
1.3
l.S
1.6
1.6
1.6
1.6
1.8
2.0
CURRENT SU RPLUS
2
3
2.9
•
5.4
.1
4.9
•
5.8
•
4.0
•
5.1
•
4.9
-
5.4
•
5.7
-
5.6
•
6.0
»
6.0
•
NET ACQ. OF FINAN. ASSETS
2
D E MA ND DE POSITS ♦ CURRENC 3
4
5
6
7
8
9
10
1.0
1.6
-.5
1.2
.8
•
.4
1.0
3.9
.1
1.5
2.3
•
.5
2.5
1.9
-.4
1.5
.7
.1
.5
2.8
2.6
-.4
2.0
1.0
.1
.5
1.1
2.4
-.4
1.5
1.2
•
.5
3.8
1.8
-.4
1.5
.6
•
.5
2.9
1.4
— .6
1.5
.4
.1
.5
2.9
2.0
-.1
1.5
.6
.1
.5
2.4
2.8
-.4
2.2
1.0
.1
.5
2.7
2.3
-.8
2.0
1.1
.1
.5
3.6
1.9
— .8
1.8
.8
.1
.5
2.4
3.1
.2
1.9
.9
.1
.5
CO RPORATE SHARES
4
CREDIT HKT. INSTRUHENTS
5
U.S. OOVT. SECURI TI ES
6
STATE AND LOCAL OBLIG. 7
CO RP OR AT E BONOS
6
COMMER CI AL MO RT GA GE S
9
TRADE CREDIT
10
11
12
3.4
.4
3.5
-1.2
3.4
•
3.7
-.4
3.5
.9
3.B
-.4
3.4
.1
3.3
-.5
3.7
-.5
3.7
-.3
3.6
- .6
3.8
-.2
NET INCREASE IN LI AB IL IT IE S
DISCRE PA NC Y
I
11
12
6 FEBRUARY 1973
FINANCE N.E.C.
FINANCE N.E.C.
12
SECTOR .STATEMENTS OF SAVINfi ANO INVESTMENT
(BILLIONS OF COLLARS)
13
SEASONALLY ADJUSTED ANNUAL RATES
. . .. .. .. .. ..___ __________________ _________ ______________________________ __________________
•
1971
”
_______ll l l ____ n i l ____ i! I I ____ ___________ »....... IV
SEASONALLY ADJUSTED ANNUAL RATES
................................
!
,
„ I,T* n l
1
— 2.2
*1.1
—* 7
-1,0
-.1
- 1 1
. 1 1
K
n
---------- ------------------------------------ •*______*•!......1«1______-.5_____ -.9
.. .. .. .. .. .. .___ _
*
3
4
5
.3
.3
2.4
4.8
7
•
•*
2.14.7
ill
,
^3
1.1
1.0
9 '.3
4,1
3.2
2.1
1.9
1.5
2 !*
-.5
-.2
-.2
3
ll
.7
^5
4U
.5
5 |a
l 7
- 8
4.0
,0
3 *3
l 9
3
16
1,6
ill
III
1#3
*5
16
i7
"*7
_
-1.2 .,9
FINANCE COMPANIES
l \l
.1
-.6
Iv
-1,1 CURRENT SURPLUS OF GROUP 1
* **
6#!
*f
?*?
1*1
2 *5
l0#!
1*1
l!#J
5,2
8,9
I'l
!*8
3 '9
*
~~
l2*1
NET ACQ. OF FINAN. ASSETS
*3.3
DEMAND DE P , ♦ CURRENCY
5,2
M0 M* MORTGAGES
?#9
4,3 CBNSUNCR CREDIT
2.3
OTHER LOANS (TO BUS.)
14*1NET
7 !2
- a
.2 *
.'I______ !*?
J*2
5 '5
2 '5
-7.0
-1 !«
1it
i ’l
.I*i_________________________J * 7
l l_____ II I _____ _________ 1*5______5 . 7 ____ -3 .3
1.5____ -1.1
4.9
OPEN-END INVESTNENT CONPANIES
INCREASE IN LIABILITIES
CORPORATE BONDS
BANK LOANS N.E.C.
OPEN NARKET PAPER
1
2
3
4
5
6
7
8
9
”
1
•2.2
-l.d
•.9
-1.4
-.1
-1.3
-1.2
-.7
-1.1
-1.5
-1.3
-1.8
CURRENT SURPLUS
1
2
3
3.3
-.1
1.6
•
.9
.3
-1.6
.1
-2.2
.4
1.5
.1
.8
-.1
1.8
.1
-3.7
.2
.5
.1
-.9
-.1
-2.1
.1
NET ACQ. OF FINAN. ASSETS
DEN. DEPOSITS ♦ CURR.
2
4
9
*
7
•
2.9
.9
. -•*
. .2
1.2
1.1
.9
.2
.7
••4
•4
-1.9
.2
.2
•
•
2.0
-4.5
.2
•
-4.7
•4
-l.i
-2.4
4.2
.4
1.9
2.2
-2.4
-1.6
•
.8
-2.4
-1.8
2.2
•
-.5
2.6
-1.8
.9
.6
.4
•
- 1.6
-.7
.2
2.2
1.7
-.8
-.7
1.4
-1.9
9
9.9
2*6
-.2
-2.0
2.7
2.0
2.9
-2.7
2.0
.4
-.3
-.3
,4
1.3
-.4
-.6
-.2
CORPORATE SHARES
CREDIT NKT. INSTR,
U.S.fOVT, SECURITIES
CORPORATE BONDS
COMMERCIAL PAPER
NET SHARE ISSUES
3
4
5
6
7
8
9
NET ACO. OF FINAN, ASSETS
DENANO DEP. ♦ CURRENCY
CORPORATE EOUITY SHARES
CREDIT MKT, INSTR,
U.S.GOVT. SECURITIES
STATE*LOCAL GOVT. SEC,
CORPORATE*FGN. BONDS
SECURITY CREDIT
7
8
NET INCR, IN LIAB,- SEC. CR
FROM BANKS
CUSTONER CREDIT BALANCES
9
10
11
1
2
3
4
5
6
6 FEBRUARY 1973
REST OF THE MOULD
WFST OF THE WORl t>
13
SECTOR ST AT EM EN TS OF SA VI NG ANO INVESTMENT
(BILLIONS OF DOLLARS)
SE ASONALLY AD JUSTED ANNUAL RATES
1969
1970
1971
13
SEASONALLY ADJUSTED ANNUAL RATFS
I
1972 I
1971
I
II
III
IV
|
I
1972
I
II
III
IV
REST OF THE WORLD
1
2
3
4
5
1.9
55.S
53.6
2.9
1.8
3.6
62,9
59.3
3.2
••4
.7
66.1
65.4
3.6
2.0
-4.1
73.7
77.8
3.8
7.8
4.5
66.3
61.8
3.2
-1.4
.1
66.7
66.6
3.4
3.2
.4
68.5
68.2
3.8
3.4
-2.1
63.0
65.1
4.0
6.1
-4.6
70,7
75.3
3.8
8.4
-5.2
70.0
75.2
3.8
9.0
-3.4
74.4
77.8
3.8
7.2
-3.0
79.7
82.7
3.8
6.8
6
7
8
9
10
3.4
10.3
-1.0
.3
1.1
.7
5.8
.8
.2
-1.7
13.6
22.2
1.3
.2
.5
10.7
18.5
.6
1.4
1.5
2.8
10.8
.9
-1.2
-1.3
12.4
23.6
2.6
.6
2.7
23.5
33.7
1*8
-1.1
1.8
16.0
20.8
•
2.6
-1.0
6.1
18.6
2.2
-.7
.4
14.7
14.6
•
4.7
1.3
12.6
21.7
•
-1.1
.8
9.2
19.3
2.6
3.4
NET FI NANCIAL INVESTMENT
6
NET ACQUIS. OF FINAN. ASSET
7
GO LD ♦ SDR'S
B
U.S. OEM. OEP, ♦ CURRENCY
9
TIME DEPOSITS
10
11
12
13
14
15
1.6
-.3
•1.8
.5
1.0
.7
10.3
9.1
.7
.5
.9
26.4
26.3
.3
-.2
2.3
8.5
8.5
.1
-.1
.3
25.3
25.0
.7
-.4
•
28.1
26.6
-.3
1.8
.9
32.1
30.0
.6
1.5
2.2
20.2
23.6
.1
-3.5
2.8
14.4
11.1
.3
3.0
.7
-3.6
-.4
.1
-3.4
1.5
15.0
16.2
-.3
-1.0
4.4
8.3
7.0
.2
1.1
U . S. CO RP OR AT E SHARES
11
CR ED IT MKT. INSTRUMENTS
12
U.S. OOVT. SECURITIES
13
U.S. CO RPORATE B O N D S (1) 14
acceptances
15
16
17
-.2
.8
-.1
1.3
•
•
•
.3
.6
-.4
-.4
-.3
-.3
-.2
-.1
.9
.1
.2
-.1
1.0
-.1
.3
.2
-.3
18
19
20
7.9
.8
-.7
-6.9
1.0
.3
-4.1
-.2
-2.9
1.3
.7
1.9
-10.3
.4
-3.4
-5.6
-.1
-4.1
5.0
-I .6
-4.8
-5.4
.5
.9
1.6
-1.4
-.9
1.4
1.4
7.9
4.0
1.0
.2
-1.6
1.9
.4
SECU RI TY CREDIT
16
TRADE CREDIT
17
BANK L I AB IL IT IE S TO
F O RE IG N AF FI LI AT ES
18
D I RE CT INVESTMENT IN U.S. 19
U N A L LO CA TE D
20
21
22
6.9
.3
5.1
-2.5
8.6
-1.7
7.9
-.2
8.1
-2.5
11.2
-.7
10.2
-3.7
4.8
•
12.4
-•3
•
.2
9.0
-.5
10.1
-.2
FINAN. SO UR CE S OF FU NDStNET 21
O F F I CI AL U.S. FON. EXCHAN 22
23
24
25
26
27
.5
2.9
1.0
-.6
2.4
.1
3.0
.9
•
2.1
•
5.6
.9
2.7
2.1
-.3
3.8
.9
2.4
.5
.3
3.9
1.1
-.4
3.2
.4
6.3
1.1
2.7
2.5
•
8.0
1.0
5.9
1.1
-.6
4.2
.3
2.3
1.6
-.2
4.4
1.8
.6
2.1
-.3
1.9
1.7
2.8
-2.6
-.4
2.4
-.5
3.4
-.5
-.2
6.5
.5
2.9
3.1
28
29
30
31
32
33
-.2
.8
.2
-.5
2.2
.7
•
2.1
.2
-.2
3.6
-1.1
•
-.4
.3
.4
3.4
1.8
•
.4
.3
.2
1.5
2.2
.1
-3.9
.1
1.1
4.1
4.8
-.1
.7
.2
-.2
4.4
•
.1
.1
.4
.8
4.3
.2
•
1.6
.2
-.2
.7
-1.2
.3
.3
.1
.8
4.0
2.9
-.2
•
.3
1.0
-3.2
.2
•
-.1
.2
.2
2.8
4.5
-.1
1.3
.5
-l.l
2.4
1.0
34
*2.4
-1.0
-10.8
-2.8
-4.1
-9.1
-20.1
-9.9
2.3
-5.6
-5.5
-2.4
NET U.S.EX PO RT S
U.S.EX PO RT S
U.S.IM PO RT S
t r a n s f e r r e c e i p t s FROM U.S.
CU RR EN T ACCOUNT B A L A N C E (4-1)
(U.S. b a l a n c e * SIGN REVFRSED)
1
2
1
4
5
F6N. CO RP OR AT E SHARES
C R ED IT MKT. INSTRUMENTS
CO R P O R A T E BONDS
BA NK LOAN S N.E.C.
OT HE R LOANS
23
24
25
26
27
SE CU R I T Y DEBT
TRADE DEBT
US 6 EQ UI TY IN IBRO* ETC.
FBN. CURR. HE LD IN U.S.
U.S. DI RE CT I N V , A B R O A D (1)
U N AL LO CA TE D
28
29
30
31
32
33
DISCRE PA NC Y
(1) NET OF U.S. ISSUES IN F0N. MA RK ET S T O FI NANCE U.S. INVESTMENT ABROAO.
34
6 FE B R U A R Y 1973
MONE TA RY AND INSU RA NC E RE SE RV ES
MO NE TA RY AMO INSURANCE RESE RV E*
GOLD* OF FI CI AL F O RE IG N EXCHANGE* TREASURY CURRENCY* AND IN SURANCE R E S E RV ES
(BILLIONS OF DOLLARS)
_____________________________________________________________________________
f
1971
_______m i ____ m i ____ m i ____ 1 9 7 2 ^ i
ii
in
|
i
iv
« « « u »
i
ii
3
1.8
1.8
—
-.8
-1 .2
.4
-1.3
-.7
-.6
— .6
•
-.5
-.9
-1 .8
•
-2.6
-1.8
-1.6
-1.8
-1.0
— .8
*
*
4
.1
.3
-.1
.3
-.1
•
-.2
•1
. . m
""
in
xv
(1)
I.
1
adjusted
1972
S O LO AND OF FI CI AL FO RE IG N EX CHANGE HO LDINGS
2
14
*2.2
-2*2
*
•
*
*
*
.4
G O LD ♦ SP ECIAL DR AW IN G RIGHTS
U.S. GOLD STOCK AND SDR*S
U.S. G O V T . (EX* STAB. FUNO)
MONE TA RY AUTHORITIES (2)
-
*3
I
2
3
.3 M E M O — TOTAL WORLD GOLD STOCK
4
II* U.S. F O RE IG N EX CHANGE POSITION
5
.3
-2.5
-1.7
-.2
-2.5
-.7
-3.7
*
-*3
*2
-.5
-.2 TOTAL U . S * PO Sl TI ON
5
6
7
8
-.7
-.7
-.1
-2 .2
-.4
-1.7
-.4
-.2
•
-.2
.2
-1.5
-.6
-.9
.3
*
.3
-.3
•
-.3
*
*
*
-.3
-.3
-
1.0
1.0
*
-.5
-1.0
.4
-.3
-.6
.3
OFFI CI AL FGN, CURRENCY HLDGS
TREA SU RY
FEBERAL RESERVE
6
T
B
-.4
-.4
-1.4
-1*4
-.1
-.1
-1.0
-.9
-1.0
-1.1
-3.4
-3.4
*
*
*
*
-.7
«*7
.1
.1
.1
.1
•
•
*
*
*
*
*
NET IMF P O SI TI ON
CA PI TA L SU BS CR IP TI ON
LESS -I MF NOTE S
IMF DE PO SI TS AT F. R.
9
10
H
12
9
10
11
12
1.8
♦• 1.8
•
••
•
•
.1
•
-.1
•
III. TREA SU RY CURR EN CY AND SDR CERTIFICATES
13
1+
IS
.9
.1
.1
.8
.7
-.1
,5
.5
•
.5
.7
-.1
.4
.5
-.1
.6
.8
•
*5
•3
.1
•5
•5
*
.7
1*1
-.4
*6
*7
-.1
.4
*5
-,1
.4 TOTAL U.S* GO VT , LI ABILITY
,4 M O N E T A R Y AU TH OR IT IE S ASSET
* U N A L LO CA TE D ASSET
13
14
15
INSURANCE AND R E MS IO N FU NO RE SE RV ES
LIFE IN SU RA NC E RE SE R V E S —
1
2
3
4. 9
.1
4.8
5.2
.1
S.l
6.8
.1
6. 8
6.9
.1
6.8
6.1
.1
6.1
6.6
.1
6.6
6.9
.1
6.8
6.9
.1
6.8
7.0
.1
6.9
6.8
•1
6.7
6.9
.1
6.8
7.0
•1
7.0
NET CH AN GE IN LIABILITIES
U.S* GOVE RN ME NT
LIFE INSURANCE COMPANIES
1
2
3
4
♦ .9
5,2
8.8
6. 9
6.1
6.6
6.9
6.9
7.0
6.8
6.9
7.0
NET INCREASE IN ASSETS
(HOUSEHOLDS)
4
5
8
7
8
9
10
15*8
US
14*3
2*9
8*9
5.0
19.5
2.4
17.2
3.3
7.1
6.8
20.2
2.8
17.4
3*3
7.3
6.8
20.0
3.2
16.9
3.8
5.6
7.4
21.7
2.4
19.3
3.3
8.2
7*8
21.5
3.4
18.2
3.3
7.5
7.4
16.8
2.4
14.4
3.3
5.1
6.0
21.0
3.2
17.8
3.3
8.2
6.2
11.3
1.3
9.9
3.6
3.2
3.1
26.8
4.3
22.4
3.8
7.4
11.2
19.1
2.6
16.5
4.0
5.2
7.3
23.0
4.3
18.8
4.0
6.7
8.1
NET CH AN GE IN L I ABILITIES
U.S. GO VE RN ME NT
INSURANCE SECTOR
L I FE INSURANCE COMPANIES
PR IV AT E PE NS IO N FUNDS
S.* L. GOVT. RTR. FUNOS
5
8
7
8
9
10
U
15.8
19.5
20 .2
20.0
21.7
21.5
16.8
21.0
11.3
26.8
19.1
23.0
MET INCREASE IN ASSETS
(HOUSEHOLDS)
11
P E N S I O N F U N O RE SE R V E S —
INTERBANK CL AIMS
1
2.7
5.3
5.0
2.9
11.9
14.0
3.6
-9.5
-4.6
28.8
-4.3
-8*4 TOTAL AS SE TS
1
2
3
4
•
•
•
1.0
.8
.2
-.2
.»
-.3
1.4
-.5
1.9
-2.6
-1.5
-1.2
1.4
.4
1.8
•
.3
-.8
1.2
-.1
1.1
-1.2
1.1
.8
.3
.7
1*1
-.4
3.9
-S.l
9.1
2
3
4
5
6
7
8
9
10
2.7
1.2
.3
.1
•6
.2
4.3
2.8
2.1
-.3
.9
.1
5.2
4.7
3.6
.5
.2
.4
1.4
-.2
-2.3
1.2
.5
.4
14.5
9.3
7.8
-.8
2.3
-.1
12.6
6.2
-2.0
1.2
6.9
.2
-9.8
.8
8.2
1.0
-8.3
-.1
-4.5
-1.0
27.7
9.3
2.7
1.2
5.6
-.2
-5.0
-2.5
-2.6
1.8
-2.5
.8
-12. 4
-6.6
-9.2
3*3
-1.1
.3
2.2
-2.2
3.6
2.6
.5
•6
-.i
1.6
•
-1.6
•
.6
M O NE TA RY AU TH OR IT IE S
FE BE RA L RESERVE FLOAT
LOAN S TO MEMBER BANKS
COMM ER CI AL BA NK IN G— TOTAL
CO MM ER CI AL BANKS
ME MB ER 8ANK RESERVES
VAULT CASH
DEPO SI TS AT FGN.BK.AG.
LOAN S TO FGN.BK.AG.
BANK AF F I L I A T E S — LOANS
TO AFFILIATE BANKS
5
6
7
8
9
10
FGN. BA NK IN G AGENCIES
DE M. DE PO SI TS AT BANKS
TIME DE POSITS AT BANKS
LOANS TO BANKS
BANKS IN U.S. P O SS ES SI ON S—
DEPO SI TS AT BANKS
12
13
14
15
11
•6
.1
.3
-.4
1.8
-.2
*
-.4
•
-.5
-.6
-.4
12
13
14
15
.9
.8
.1
1.3
1.2
.1
•
t
•
#
2.0
.2
1.8
3.3
2.5
.1
.7
6.5
6.4
.1
•
1.0
.8
-10.3
-9.6
18.8
12.7
-2.0
2.8
-5.3
-3.0
.1
-.7
-3.5
-11.6
•
8.1
6.1
-4.8
-2.4
16
•
.1
.1
.1
.1
.1
.1
.1
.1
.1
.1
17
2.7
5.3
5.0
2.9
11.9
14.0
3.6
-9.5
-4.6
28,8
-4 .3
-8.4 TOTAL LI AB IL IT IE S
17
18
19
.3
.1
2.1
-.3
3.6
,5
-2.3
1.2
7.8
-.8
-2.0
1.2
.5
•6
8.2
1.0
•
— 1.6
2.7
1.2
-2.6
1.8
-9.2
3.3
MO N E T . A U T H . — MEM.BK.RES.
— VAULT CASH
18
19
20
21
22
23
24
25
26
27
2.3
1.5
•
.6
.1
.8
•
3.5
2.5
1.0
.1
•
1.2
.1
.1
.9
.3
-.2
.3
•
•
#
.1
3.9
3.1
1.4
-.4
1.8
.2
.1
4.8
2.6
-2.6
1.8
.7
2.5
.1
.1
14.8
7.8
1.4
-.2
2.5
1.0
*
•
.1
.8
-18.7
-10,3
.3
-.4
-.7
-9.6
-3.1
-3.6
-.1
•
8.1
-11.6
24.9
19.5
1.1
-.5
6.1
12.7
-2.5
-1.8
3.9
-.4
-2.4
-3.0
.1
.1
.1
—
•1
-3.5
-1.8
.7
* *6
-4.8
2.8
.1
.1
COMMER CI AL B A NK IN G— TOTAL
COMMER CI AL BANKS
TO MONE TA RY AUTH.
LOAN S F R O M AF FILIATES
LOANS FR OM FGN.BK.AG.
DEM.DEP. OF FGN.BK.AG.
TIME OEP.OF FGN.BK.AG.
DEP. OF BKS.IN US POSS.
20
21
22
23
24
25
26
27
28
29
.2
.6
.1
.9
,4
.2
.4
.5
-.1
2.3
.2
6.9
1.6
-.1
-.1
-8.3
.6
•
-.2
5.6
.8
-2.5
.3
-l.l
•
6.4
.1
.1
«■
-
m
m
■»
m
•
.1
F O RE IG N BA NK IN G AG EN CI ES—
LOANS F R OM BANK S
D E P O SI TS OF BANKS
11
16
28
29
(1) Line I excludes initial allocation of SDR's of $867 million in January 1970,
$717 million in January 1971, and $710 million in January 1972. Trans
actions in SDR's are in line 2. Also excluded from the table are revaluations
of foreign currency holdings, gold, SDR's, and IMF position.
(2) Treasury gold stock.
6 FEBR UA RY 1973
MONEY ANO DE PO SI TS SUMMARY
MONFY AND DEPOSITS SUMMARY
15
MONEY SUPPLY AND TIME AND SAVINGS AC COUNTS
(BILLIONS OF DOLLARS)
SE- f ° « LLY AO J JJST CO ANNUAL RATE S
1969
l
I
I
i I
III
IV
197?
I
II
III
IV
................
15,3
15.1
8.5
4.6
•5
•7
•8
•2
23,0
23.0
21,6
21,6
12,4
4,2
2,5
2,5
,8
•*
1,7
1,4
1*4
20,0
20.0
21,3
21.3
15,0
15,0
4,3
4,3
-.9
-.9
2,1
2*1
,8
.8
-1,2
-1*2
3,1
18.4
-.7
-,7
22,3
-15,2
-15,2
4,9
4,9
12.6
12,6
29.4
29,4
3.3
3,3
6.5
6,5
18.4
4*4
••
3*4
22,3
22.3
3,1
3.1
-1,1
-,1
4,3
4,3
4,9
4,9
5,0
5.0
-,4
"•4
,2
5,2
5,2
29.4
29,4
4.8
4.8
1.1
1,1
-.1
3,8
3,8
14,0
2*2
•l
11,7
19,2
19,2
,4
.4
1,5
1*5
17,3
17,3
-.2
-.2
-14,8
-14,8
-1,5
-1,5
16,1
16,1
24,7
24,7
11,5
11.5
,7
,7
12,5
12,5
•1
16,9
16.9 3.2 3,220.9 20,925.1
16,8
4,3
18,2
16.8
4.3
18.2
8,5
8,5 -1,5 -1,5 11,0 11,0
8,4
1,7
4,2
8,4
1,7
4,2
-.2
,9
2,2
-.2
.9
2,2
-.3
1,6
-.5
-*3
1*6
-*5
-.1
1.7
1.3
-.1
1.7
1.3
.6
-1.1
2.6
.6
-1.1
2.6
—
i
l
I
I
l
I
9
10
11
12
13
14
15
16
17
18
19
II
I
|
I
DE MA ND DEPO SI TS AND CURRENCY
9,3
9,1
6,1
,4
-,1
1,4
1,1
,2
2,5
11,8
11,8
3,1
-.4
•
3,5
a,7
2,9
,2
5,6
8.0
7.7
3.5
1.6
2,1
,2
•A
,3
,6
8,6
8,6
3,3
,S
-.1
2,8
5,3
•
,4
4,9
1971
1
1
l
l
—
1
2
3
4
5
6
7
8
SEASONALLY ADJUSTED ANNUAL RATES
f
1972 1
1970
15
1
25.1
25.8
25.8
15.1
15,1
5.7
5,7
5.6
5,8
-1.7
-1.7
.9
.9
-.7
-.7
5.9
5,9
1.2
1,2
-3.2
-3.2
•*
.4
,4
2.3
2.3
1.6
1.6
4.7
4.7
11.8
11,8
32.7
32,7
-10.1
-10,1
15.0
15,0
,2
.2
6,0
6.0
-3.5
-3.5
15,4
15.4
10.7
10.7
52 .7
52.7
6.5
6,5
5.5
5.5
2.9
2,9
*
2,6
2,6
32.7
32,7
2.3
2.3
•*
.4
2,0
2,0
15.0
15,0
3.5
3.5
-2.5
-2.5
-.8
6.8
6,8
6.0
6.0
3.1
3.1
.4
.4
.1
2,5
2.5
15.4
15.4
-3.0
-3.0
-4.4
-4.4
-.2
1,6
1.6
52.7 1
NET IN€R. IN BA NK IN G SYS. LIAB
52.7
8.9
MO NETARY AU TH OR IT IE S
8.9
2.1
U. S. GOVT. CASH ♦ DEP.
2.1
.5
FO RE IG N D E PO SI TS
6,3
CU RRENCY
6.3
11
12
13
14
15
1,0
1,0
,4
,4
-1,1
-1,1
1,7
1,7
30,4
30,4
11,9
11,9
2,2
2,2
16,3
16,3
11,6
11,6
-7,6
-7,6
,1,1
19,0
19,0
2*9
2*9
-,3
-.3
4,5
4,5
-1,3
-1,3
18.4
18,4
,9
.9
-.9
-.9
18.4
18,4
43.7
43.7
8,6
8.6
*.1
a.i
33,0
33.0
16
17
18
19
TIME DE POSITS AND SAVINGS ACCOUNTS
18.9
42.0
MONEY SUPPLY
18,9
42.0
220.0
0,0 39.3 39.3 DO ME ST IC SECTORS
11.5 25.9 25.9 HOUSEH OL DS
11,5
3.8 7.5 7.5 NO NF IN AN CI AL BUSINESS
3,8
i.O 2.6 2.6 STATE AND LOCAL GOVTS.
1,0
2,5
2.5 .3
.3FI NA NC IA L SECTORS
1.3 3.1 3.1 MAIL MAIL
FLOAT FLOAT
1,3
-i.l 2.6 2.6REST OF THE WORLD
-l.l
.......m
rnrnmtmmmmm
U.S. GOVT DEPOSITS
NET INCR. IN ASSETS
CO MM ER CI AL BA NK IN G
U, S, GOVT, DEP,
F O RE IG N DEP,
PR IV AT E DOME ST IC
2
3
4
5
6
7
8
9
10
i
i
i
i
I
I
i
i
»
I
I
l
I
l
I
i
I
.......
1
-1.4
54.9
82,2
88,5
112,9
75.2
67.8
72,7
96,1
90.1
90,3
77.4
77,4 NET INCREASE - TOTAL
2
3
4
5
-9.3
•12.5
3.0
,2
38.0
15,2
22,4
,4
41,4
7,9
33,2
,3
42,3
9,8
32,3
,2
60,9
5,8
54.9
.2
32,8
4,0
28,7
,2
32.4
18.2
13.8
.5
39,3
3,7
35,4
,2
37,6
-6,2
43,4
,4
47.6
10.5
35,7
1,5
45,3
21,5
24,9
-1,1
38,7
13,4
25,2
,1
6
7
8
9
10
11
*2,4
*5,9
1,1
-.2
"•1
-1,9
27,6
1,7
10,0
-1,7
,2
,2
32,7
.6
7,2
,5
,1
,2
33,3
2,9
4,6
1,5
,2
-.1
49.5
2,2
10,0
-1,3
,4
,2
23,1
4,8
1,8
2,7
,1
,2
21.9
2,5
6,0
1,8
,1
,1
36,3
-6,9
10,8
-1,0
•
,1
31,6
1,8
3,9
,4
-.1
,1
36,4
2,8
7,1
1,3
•
,1
35,6
4,1
4,5
,8
,5
-.1
29,6
2,8
3,0
3,4
.3
-.3
12
13
14
15
16
17
7.9
1.4
2.6
3.9
4.0
•
17,0
1,7
4,4
10,9
10,9
•
40,8
2,9
9,9
28,1
28,0
•
46,2
3,4
9,9
32,8
32,3
,5
52.0
3.0
12.5
36.5
36.0
.6
42,4
3,0
11.0
28.4
28.0
.4
35,4
3,0
7,4
25,0
24,9
,1
33,5
2,6
8,5
22,4
23,1
-.8
58,4
3,9
13,1
41,4
40,2
1.2
42,5
3,2
9,9
29,4
28,9
,5
45,0
2.9
8.9
33.2
32.6
.6
38.7
3.5
7.9
27.3
27,5
-.1
18
6.1
44,5
73,5
78,9
100.9
65.1
57,3
70,6
88,8
78,4
80.0
68,4
CO MM ER CI AL BA NK IN G LIAB IL IT Y
LARGE NEG, C. D.«S
OTHER AT C O MM ER CI AL BANKS
AT FO R E I G N B A NK IN G AGENCIES
AC QUIRED BY!
HOUS EH OL D
CO RP OR AT E B U S I NE SS
STATE & LOCAL GOVTS,
F0 RE I6 N
U.S. GOVT.
MUTUAL SAVINGS BANKS
AT SAVINGS IN ST IT UT IO NS
CREDIT UN IO NS
MUTUAL SVGS. BANKS
SAVINGS ♦ LO A N ASSNS,
HELD BY* H O US EH OL DS
CR ED IT UNIONS
MEMO - HO US EH OL DS TOTAL
TIME ♦ SVGS. ACCOUNTS
Money Supply Relationship
Part
I
Line
I
2
3
4
5
6
7
H
I
5
6
7
8
9
10
HI
4
5-9
Line I of page 15.
Daily averages in this table are increments in month averages from last month of preceding quarter to last
month of this quarter.
1-2.
5 + 6 + 7.
See Part II, line 5.
Part II, line 6 + Part I I I , line 4.
Part II, line 7 + Part I I I , line 5. "Seasonal" here means dollar excess of seasonally adjusted flow over
unadjusted flow.
Lines 14 + 18 + 19 of page 15 at quarterly rates.
Differences between money-supply concept of demand deposits derived from last preceding all-bank total
(either last Wednesday of quarter or Call Report) and figure for that one day, e.g ., March 29, 1972,
derived from data going into daily-average statistics. Quarterly increments in this difference/
Difference between figure for period derived from daily-average data and average for last month of quarter.
Quarterly increments in this difference.
8 + 9 + 10 - II.
Difference in adjustment method: seasonal in daily-average series (month average ) adjusted as flows less
seasonal in published daily-average series.
Seasonal in F/F demand deposit (based on net change from last day of one quarter to last day of next) less
seasonal in daily average adjusted as flows.
Adjustment to seasonal needed as part of the balancing of all seasonally adjusted sources and uses of funds
in the flow-of-funds matrix.
No statistical difference between the two series. In unadjusted data, only difference is between one-day
figure for end of quarter and three-week average.
Correspond to lines 7 through II in Part II.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
6 FEBRUARY 1973
MONEY SUPPLY RE LA TI ON SH IP
HONEY SUPPLY RELA TI ON SH IP
,,
RELA TI ON OF F/F MONEY SUPPLY DATA TO DAILY AVERAGE SE RI ES
(BILLIONS OF DOLLARS)
SE ASONALLY ADJU ST ED ANNUAL RATES
16
S E AS ON AL LY A D JU ST ED ANNUAL PATES
1971
1969
1970
1971
1972
I
11
I
IV
III
1
I
11
IV
III
I. TOTAL HONEY SUPPLY
1
2
3
8,0
7.2
•8
•8
4
5
-.1
6
1.0
7
-.1
m—mmmim m m m m •»
9.3
12.5
-3.2
15.2
14.7
.5
23.0
19.5
3.5
20.0
19.6
.4
-3.2
.4
-4.2
.5
.5
.7
-.3
.1
3.5
1.1
1.8
.6
.1
-.8
-3.7
4.7
18.7
15.3
25.1
21.2
3.9
5.9
15.2
-9.3
18.9
20.0
-l.l
42.0
21.6
20.4
NET CH AN GE S AT SA A R —
F/F DE MA ND OEPO SI TS ♦ CURR.
DAILY AVERAGE (OAMS)
TOTAL DI FF ER EN CE
1
2
3
4.1
1.0
.9
* •6
-2.5
6.6
4.1
-3.3
•• ••••••••
II. DEMAND DEPOSITS
-2.3
.2
.4
-3.0
-.3
-.3
-2.1
2.1
5.1 TOTAL OIFF. a t q u a r t e r l y RATE
AR IS IN G F R O M — DATA DIFF.
1.8
TIMING
6.0
SEASONALS
-2.7
4
5
6
7
4.6
4.3
.8
3.0
4.3
4.1
8.9
3.9
F/F
DAMS
1
2
5.0
DI FF ER EN CE
4
16.9
25.2
-8.3
3.2
9.6
-6.4
20.9
4.4
16.5
-2.1
•8
.5
-3.4
-1.6
-.2
-3.6
2.2
3.7
4.0
3.3
5.3
.2
1.5
4.7
.4
net
I
2
5.2
4.S
5.8
9.5
11.9
11.2
4
.7
-3.7
.7
3.4
-.3
-2.0
-1.3
4.3
•3
-2.2
.2
5
6
7
.7
-.1
.7
-4.1
.4
-4.6
.5
.7
-.2
2.9
1.1
1.8
-4.1
-.8
-3.2
1.1
•8
.3
-3.4
-.2
-3.2
6.9
.9
6.0
-4.0
-.6
-3.4
.5
.2
.2
-1.7
-.3
-1.4
•
.4
.4
.1
.2
.5
.5
•
-.1
3.8
-.7
5.9
.1
-1.5
-3.2
-.4
-1.5
-1.4
2.0
•6
.2
1.0
.3
-2.5
.6
— 4 .6
.3
1.1
4.3
-.8
6.1
-.5
-.5
-2.6
-.5
-1.6
-.7
.1
2.0
.8
.2
.7
.2
.5
.7
-.2
1.7
1.0
.7
.6
.8
-.2
.4
.9
-.5
1.6
1.5
.1
8
9
10
11
12
•
•
-
•
-
-
•
change* s
.A. q t r l y RA T E —
(SEE PART IV. BELOW)
8.2 DI FF ER EN CE IN UN AD JU ST ED
DATA DIFF ER EN CE
1.8
TIMING
6.4
-3.2 DI FF ER EN CE IN SEASONALS
FLOW S VS. LEVELS
1.0
ON E- DA Y VS, DAILY AVG.
-4.7
SEAS ON AL BALANCE ADJUSTMENT
.5
PLUS* DAY- OF -W EE K ALLOW.
.1
5
6
7
8
9
10
11
12
III. CURRENCY
3.5
3.0
.5
3.4
3.5
-.1
•2
.4
••1
••1
.1
.1
1
2
3
2.9
2.7
.2
4
5
6
7
A
9
.
.6
.9
-.3
-.5
.2
-.4
•6
.9
.2
-.7
-.4
.9
-.1
-.5
•
-1.5
-.2
.1
-.2
-.1
.2
.1
.4
•
.3
• •8
-.2
-.1
-.5
-.1
-.5
-.3
•
-.2
•
.1
.2
•
.4
.5
.2
.3
1.3
.9
.4
-.1
•
•
.1
.1
•
•
•
.
.9
1.0
-.1
4.3
4.2
•1
.
-
•
•
.3
•
1.1
•
•
.2
.1
NET CHANGE* S,A. QTRLY RA TE—
F/F
DAMS
DI FF ER EN CE
1
2
3
TI MI NG DI FF ER EN CE
4
DIFF, IN SEASONALS
FLOWS VS. LEVELS
ON E- DA Y VS. DAILY AVG.
SE ASONAL 8ALANCE ADJ.
L E S S — OAY-OF -W EE K ALLOW,
5
6
7
8
9
FEBRUARY 1973
U.S. GOVT. SE CU RI TI ES
17 ,
U.S. flOVT. SECURITIES
,
U.S. GO VERNMENT 5ECU^IT TFS MARKET SUMMApv
(MILLIONS OF DOLLARS)
SEASONALLY AD JU ST ED ANNUAL
PM!S
17
SE A S O N A L L Y ADJUSTED ANNUAL RATES
1969
1070
1971
!972
1
2
3
4
5.5
-1.3
-.4
-.9
21.6
12.9
.3
12.6
29.4
26.0
2.4
23.6
S
6
7
8
6.6
-.4
-1.9
9.1
ft• 7
.3
-.3
0.7
9
10
U
12
13
14
5.5
-1.3
-.2
-.5
.3
4.2
15
16
17
-1.8
-2.2
.4
1
|
1971
1
1
1972
I
II
III
TV
?3.3
14.3
3.3
11.0
2.9
6.8
1.9
4.9
42.1
40.9
2.7
38.2
33.5
25.6
2.4
23.1
39.0
30.6
2.6
28.0
10.6
3.1
3.2
-.1
26.4
16.0
3.4
12.6
13.1
3.7
3.1
.6
3.4
.6
-1.1
3.9
9.0
2.0
1.1
5.9
-3.9
.8
-3.6
-1.1
1.2
.4
-.5
1.3
7.9
•
.4
7.6
8.3
1.5
-.7
7.5
7.4
2.8
-.5
5.1
10.4
1.3
.2
8.8
9.6
2.2
2.5
4.9
21.6
-.1
1.7
1.9
-.2
5.0
29.4
*
-1.5
-1.5
-.1
8.6
23.3
•
-.4
-.3
-.1
.4
2.9
•
-.8
-2.8
2.0
13.8
42.1
•
-2.8
-.2
-2.6
3.0
33.5
•
-2.1
-2.2
.1
8.8
39.0
-.4
-.6
.2
9.0
10.6
•
6.1
6.2
-.1
4.2
26.4
•
-.8
-.6
-.1
5.9
9.1
7.8
1.3
26.3
13.9
12.4
8.5
1.6
6.9
25.0
16.1
8.9
26.6
6.2
20.4
30.0
10.4
19.6
23.6
23.1
.5
11.1
9.6
1.5
T
II
TV
III
42.9 TOTAL NET ISSUES
34.3
I N CL UD ED IN PUBLIC DEBT
3.c
HO U S E H O L D SAVINGS BONDS
30. f
D I RE CT EXC. SAVINGS BONDS
8.6
1.7
2.1
4.7
1
2
3
4
OTHE R
BU DG FT AGENCY ISSUES
LO AN PA RT ICIPATIONS (1)
S P O N SO RE D AGENCY I S S U E S (2)
5
6
7
8
13.3
•
-1.9
-1.7
-.1
-6.?
42.9 m e t a c q u i s i t i o n s * b y s e c t o r
•
U . S . G O VE RN ME NT (AGENCY SEC.)
S P ON SO RE D CREDIT AGENCIES
-5.1
-5.1
DI RE CT MARKETABLE
•
FHLB SPECIAL ISSUE
-2.4
FE DE RA L RESERVE SYSTEM
9
10
11
12
13
14
-.4
-12.9
12.6
16.2
1.5
14.7
7.0
8.1
-1.1
15
16
17
foreign
SH OR T - T E R M MARKETABLE
O T HE R
ie
4.6
5.8
-4.0
14.9
-35.0
15.2
-3.1
6.8
-10.9
21.7
5.2
43.4
TOTAL PRIVATE DOMESTIC
18
19
to
11
22
16.0
- .4
9.8
6.6
-7.6
.3
-10.1
2.2
-13.1
2.4
-10.5
-5.0
5.7
3.3
-.1
2.6
-51.0
1.*
-34.1
-18.8
1.6
2.7
1.8
-2.9
-2.0
2.4
-6.1
1.6
-1.2
2.6
-3.9
.2
-21.7
3.2
-20.0
-4.9
14.1
3.4
7.1
3.5
-.3
3.1
-10.9
7.5
30.8
3.5
23.2
4.0
PVT. DO MESTIC NONFIN.
S A VI NG S BONOS - HOUSEHOLDS
DI R E C T EXC. SVOS. BONDS
AG EN CY ISSUES
19
20
21
2?
23
14
25
86
12.1
-.4
8.1
4.3
-4.4
.3
-7.3
2.6
-22.6
2.4
-19.3
-5.8
-1.5
3.3
-5.8
1.1
-57.1
1.9
-40.7
-18.4
-13.1
2.7
-11.3
-4.5
-13.1
2.4
-16.4
.9
-7.6
2.6
-9.0
-1.2
-23.4
3.2
-21.0
-5.6
7.7
3.4
1.9
2.4
-8.6
3.1
-17.0
5.3
18.2
3.5
12.6
2.0
27
28
29
-1.3
-1.8
.5
-2.9
-3.0
.1
2.7
2.6
.1
-1.5
-2.2
.7
-.8
-.4
-.4
4.9
4.7
.1
3.6
3.7
-.1
3.1
2.5
.5
-6.4
-6.8
.4
.8
.1
.8
-.4
-1.2
.8
.1
-.9
1.0
90
SI
§2
5.2
3.5
1.7
-.2
.3
-.5
6.9
6.2
.8
8.7
8.0
.8
7.0
7.0
•
9.8
8.4
1.4
7.5
6.7
.8
3.4
2.6
•8
8.2
7.8
.3
5.5
5.2
.4
8.7
7.3
1.4
12.4
11.5
1.0
83
84
35
-9.4
-9.2
-.3
9.4
5.8
3.6
6.0
2.3
3.6
3. 7
1.1
2.6
6.8
4.7
2.1
10.4
7.0
3.4
-3.5
-6.6
3.0
10..2
4.4
5.8
-.1
-3.0
2. 9
4.1
.1
3.9
2.1
1.8
.3
8.8
5.5
3.3
CO M M E R C I A L BA NK IN G
DI RE CT
AG EN CY ISSUES
33
34
35
86
S7
58
-1.9
-3.7
1.7
4.0
1.0
3.0
3.1
-1.1
4.2
5.4
2.3
3.1
9.1
-3.0
12.1
3.2
1.8
1.4
2.4
-.6
3.0
-2.3
-2.6
.3
10.9
2.4
8.5
3.6
1.7
1.8
3.4
1.3
2.1
3.8
3.7
.1
P R IV AT E NONBANK FINANCE
DI RE CT
AG EN CY ISSUES
36
37
38
59
40
41
.3
-1.0
1.3
1.2
-.4
1.5
5.2
1.4
3.9
4. 2
1.5
2.7
14.2
1.7
12.5
4.0
2.5
1.5
2.5
1.5
1.0
.2
-.2
.4
9.1
1.3
7.8
2.0
.6
1.4
2.9
1.2
1.7
2.9
3.0
-.1
SVOS.* LO A N ASSNS.
DI RECT
AGENCY ISSUES
39
40
41
42
63
44
-.5
-.6
•1
.2
-.2
*4
.4
•
.4
.2
-.1
.3
-.1
•
•
.9
.3
.6
.7
-.4
1.2
-.2
.1
-.3
.2
-.4
.6
.4
-.2
.6
.?
•
.2
.1
.3
-.1
MU TU AL SAVINGS BANKS
DI RE CT
AG EN CY ISSUES
42
43
44
45
46
47
.1
.1
•
.5
.3
.2
1.1
.4
.7
•6
.3
.2
1.1
•4
.7
1.0
.4
.6
1.1
.4
.7
1.4
.4
.9
.4
.3
.2
.4
.3
.2
.4
.2
.2
1.0
.6
.4
CR ED IT UNIONS
DIRECT
AG FN CY ISSUES
♦5
46
4T
48
49
50
-.3
-.3
•
.1
-.1
.1
-.2
-.2
.1
.1
.1
•
-.1
-.6
•
-.1
-.1
-.4
.3
.1
•
.1
.5
.2
.3
-.3
-.1
-.1
-.1
-.1
•
.2
.3
-.1
LI FE INSURANCE
OIRECT
AGENCY ISSUES
48
49
50
51
52
53
-.5
-.5
•
.1
-.1
.1
-.4
-.2
-.2
-.4
-.4
-.1
-.4
-.1
-.3
-.4
-.2
-.2
• •6
-.5
-.2
-.1
-.1
•
-.4
-.4
•
-.8
-.4
-.3
-.8
— .8
•
.2
.2
•
NO N L I F E INSURANCE
DI RE CT
AGENCY ISSUES
51
5?
53
54
55
56
-. 2
-.4
•2
.2
-.1
.3
-.3
•
-.3
.5
.5
.1
-.1
•4
-1.0
-.3
-.8
•
•
•
•
•
.1
.9
.9
•
•
.2
-.2
.6
.1
.4
.7
.7
-
PR IV AT E PE NS IO N FUNDS
DI RE CT
AG FNCY ISSUES
54
5*
56
57
58
59
-.3
-.5
.1
-.1
-.4
,3
-.8
-. 5
-.3
-. 2
-.1
-.1
-1.1
-1.0
-.2
-1.5
-1.3
-.3
.6
.5
.1
-1.3
-.4
-.9
-.5
-.2
-.3
-.3
-.6
.3
-.4
•
-.4
.3
.3
•
S.* L. GO ¥T .R TR .F UN OS
DIRECT
AG EN CY ISSUES
57
5*
59
60
81
-.5
•
•2
1.7
-.3
-1.6
.2
.2
.2
-4.0
-1.0
1.4
-.7
-1.0
.4
-2.8
•
.7
•
1.9
.6
•
.2
-1.8
IN VE ST ME NT COS.
<DIRECT*
S E C . PR KR S. + DLRS.(
" >
60
61
'
.
(1)
(2)
H O US EH OL DS
SA VI NG S SONDS
DI RE CT EXC. SV0S. BONDS
A G FN CY ISSUES
23
24
25
26
C O RP OR AT E NONFIN. BUSINESS 27
28
O I RE CT
29
AG EN CY ISSUES
ST AT E ♦ LOCAL GOVTS.
DI RE CT
AGENCY ISSUES
30
31
3?
Where not shown separately, loan participations are included
with agency issues.
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.
Sporrsored-credit issues include GNMA-guaranteed securities
backed by mortgage pools.
6 FEBRUARY 1973
PRIVATE SE CU RI TI ES AND MORTGAGES
PPIVAT*
SECURITIES
AND
MORTr,AGF'?
PRIVATE SECURITIES AND MORTGAGES
(BILLIONS OF DOLLARS)
SEASONALLY AO JU ST ED ANNUAL RATES
1969
1970
SEASONALLY
1
1972 |
1971
1971
IV
III
II
I
1
1
STATE AND LOCAL g o v e r n m e n t
ADJUSTED
ANNUAL
1972
I
II
securities
III
IV
.......
19.6
4.2
15.4
19.2
4.6
14.6
17.7
1.9
15.8
15.1
2.4
12.7
12.9
-2.6
15.5
16.1
1.0
15.1
13.5
— .8
14.2
NET CHANGE IN LIABILITIES OF
STATE AND LOCAL GOVERNMENTS
SH OR T- TE RM
OTHER
1
2
3
NET CHANGE IN ASSETS
HO USEHOLDS
CORPORATE BUSINESS
S. ♦ L. G O V T •» GEN.FUNDS
*
5
6
7
1
2
3
7.9
2.6
5.4
13.8
3.8
10.0
20.1
4.6
15.6
14*4
•
14.4
24.5
7.8
16.7
4
S
6
7
7.9
7.6
•1.0
.1
13.8
2.0
— .6
♦
20.2
4.9
1.8
-.2
14.4
4.2
1.0
-.1
24.5
5.0
1.0
••4
19.6
4.5
1.0
-.4
19.2
7.2
1.0
.2
17.7
3.0
1.0
-.2
15.1
2.6
1.0
-.1
12.9
5.7
1.0
-.5
16.1
3.8
1.0
•3
13.5
4.6
1.0
.1
8
9
10
u
12
13
.2
•
•
1.2
-.1
-.2
10.7
•
.1
1.5
-.3
.6
12.7
.2
•2
1.5
••2
.»
7.3
.5
-.1
2.0
-.3
-.1
17.2
.2
•
1.5
•
-.1
14.0
.3
.4
1.5
•
-1.6
7.6
.1
.3
1.5
• •6
1.8
11.9
.2
.1
1.5
-.2
.3
10.5
.5
2.2
-.2
-1.3
4.5
.5
-.7
2.0
.1
.2
9.5
.8
•
1.8
- •6
-.5
4.7
.2
.2
1.9
-.4
1.1
COMMERCIAL BANKING
MUTUAL SAVINGS BANKS
LIFE INSURANCE COS.
OTHER INSURANCE COS.
S.* L. GOVT,. RTR. FUNDS
FINANCE N.E.C.
fl
9
10
11
12
13
CORPORATE AND FO REIGN BONDS
1
2
3
4
5
>4.8
12.1
1 •6
.i
1.0
23.7
20.3
2.5
•
.9
24.6
19.4
3.8
.§
.9
19.7
12.9
4.5
1.5
.9
30.7
24.1
4.5
1.0
1.1
23.9
20.1
2.3
.4
1.1
20.2
14.9
4.0
.3
1.0
23.7
18.5
4.3
.6
.3
22.2
11.2
5.9
3.4
1.8
19.3
13.0
4.2
.4
1.7
19.1
13.5
5.5
.5
-.5
18.4
13.8
2.5
1.6
.5
NET ISSUES
CORPORATE BUSINESS
FINANCE CO MPANIES
C O MMERCIAL BANKS
REST OF THE WORLD
6
7
8
9
10
14.8
5.7
1.8
-.1
.3
23.7
12.4
-2.0
24.6
1.3
1.0
1.0
4.3
19.7
3.2
•6
1.3
3.0
30.7
11.2
-.6
1.5
7.7
23.9
7.0
3.0
1 .5
6. •
20.2
9.0
1.1
1.1
1.0
23.7
3.1
.3
1.1
2.5
22.2
4.1
.3
1.9
5.3
19.3
3.3
.5
1.9
3.4
19.1
3.4
.7
1.2
2.1
18.4
2.0
.7
.4
1.4
NET PU RC HA SE S
6
H O USEHOLDS
7
STATE AND LOCAL GO VERNMENTS
B
COMMERCIAL BA NKING
9
MUTUAL SAVINGS BANKS
10
11
12
13
14
15
6.1
1.5
.6
3.1
.8
9.7
1.5
2.1
3.9
2*3
9.6
5.1
-.7
4.4
.7
12.3
6.8
-.4
5.0
1.0
8.7
3.6
-2.2
6.1
1.2
9.6
3.9
-.4
5.4
.6
7.0
5.6
-1.9
2.8
.4
13.2
7.4
1.9
3.3
.6
10.5
9.1
-2.8
3.2
1.0
12.3
5.1
• .6
6.8
1.1
13.0
6.4
•8
4. 9
.8
13.6
6.4
1.0
5.3
.9
INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PE NS IO N FUNDS
S.* L.GOVT. RTR. FUNDS
OTHER INSURANCE COMPANIES
11
12
13
14
IS
16
17
.4
.5
.9
.7
.6
.3
-.8
.1
1.5
.7
-3.0
-.3
.5
.6
3.5
.1
-.2
.3
-2.3
.1
-1.0
-.3
.2
.2
FINANCE N.E.C.
REST OF THE WORLD
16
*7
.1
1
2
3
4
5
CORPORATE EQUITIES
1
2
3
4
5
6
10.3
5.5
4.7
4.3
7
8
9
10
11
12
13
14
15
10.3
-4.1
.2
•
9.9
1.7
5.4
1.0
1 .ft
16
17
18
19
2.7
2.5
.2
1.6
*
.5
.3
18.9
2.7
16.2
15.7
.1
•4
18.9
2.0
16.9
17.0
«
#■
14.0
2.5
11.5
12.1
.1
-.6
7.9
-2.7
10.5
10.5
.2
-.2
17.9
2.0
16.0
16.2
•
-.3
12.2
.4
11.8
12.2
•
-.4
11.4
-.3
11.7
11.6
.3
•.2
NET ISSUES
OPEN -E ND INVESTMENT COS.
OTHER SECTORS
CO RP OR AT E BUSINESS
CO MM ER CI AL BANKS
REST OF THE WORLD
12.3
-3.9
.7
.1
15.9
3.4
6.8
2.8
2.9
7.2
-15.0
.4
.1
17.9
4.5
9.6
1.1
2.8
18.9
-.7
.4
.1
21.1
3.4
11.6
3.0
3.1
18.9
•
.4
-.1
16.9
3.2
6.9
2.9
3.8
14.0
-5.2
.7
-.1
16.9
3.5
7.5
2.9
3.1
7.9
-8.8
.7
.3
16.3
4.2
7.7
2.4
2.1
17.9
•6
•8
.2
19.3
4.2
8.6
2.7
3.8
12.2
.4
.5
12.9
2.1
4.2
3.6
3.1
11.4
•7.6
.7
NET PURC HA SE S
7
HOUS EH OL DS
8
MUTUAL SAVINGS BANKS
9
C OMMERCIAL BA NKING
10
INSURANCE SE CT OR
11
LIFE INSURANCE COMPANIES
12
PRIVATE PE NS IO N FUNDS
13
OTHER INSURANCE COMPANIES 14
S.* L. GOVT. RTR. FUNDS
15
•2.8
-1.9
-.9
2.3
3.5
2.0
1.5
.3
-2.0
.7
1.7
-.9
.9
-.5
-2.4
1.9
2.2
-3.5
-2.4
-l.l
2.8
-3.6
-1.8
-1.8
.7
-3.1
-1.8
-1.4
1.5
-.8
-1.6
.8
4.4
71.0 TOTAL MORTGAGE CREDIT
BORROWED BY —
S A VI NG S* LO AN ASSNS.
.9
U.S. GOVERNMENT
-.1
14.8
1.3
13.5
13.4
•
4
12.3
-.2
12.5
12.6
.1
•.3
7.2
-2.0
9.2
9.0
9.5
-2 .6
.3
.1
9.7
2.0
4.6
1.0
2.1
14.0
•5.2
.5
1.3
1.1
.2
.7
•5
9.5
2. 6
6.9
6.8
•
•1
•
18.2
3.6
8.9
2.5
3.2
.4
♦
.9
•
.6
-2.5
•
14.9
3.0
6.9
2.4
2.7
FI NA NC E N.E.C.
OPEN -E ND INVESTMENT COS.
BR OK ER S AND DEALERS
REST OF THE WORLD
1
2
3
4
5
6
16
17
18
19
TOTAL m o r t g a g e s
1
65.3
34.5
49.4
56.2
55.4
54.6
66.1
69.6
2.0
-.1
1.1
-.1
1.8
-.1
3.7
-.1
1.7
-.1
.8
•
.2
-.1
2.0
-.1
1.5
-.1
25.8
12.5
1.4
12.0
1*8
4.9
5.3
47.0
24.5
1.4
21.0
2.0
7.B
11.2
64.3
35.8
1.5
26.9
2.7
B.9
15.3
32.8
13.9
1.4
17.4
2.2
6.5
8.7
45.8
23.4
1.4
20.9
1.3
8.6
11.1
54.6
29.1
1.5
24.1
2.2
8.5
13.3
54.6
31.7
1.5
21.5
2.3
7 •6
11.6
54.5
27.5
1.5
25.4
2.6
8.5
14.3
64.2
35.5
1.5
27.2
2.9
8.7
15.7
68.2
39.1
1.5
2T.5
2.9
9.1
15.6
70.2
41.3
1.6
27.3
2.3
9.5
15.5
27.8
2.0
•
.7
4.5
26.4
2.2
•
.3
5.8
48.9
2.4
•
•
6.3
65.3
.4
•
-.2
6.6
34.5
2.4
•
2.3
49.4
.5
•
.4
6.9
56.2
4.6
•
*
8.4
55.4
2.2
•
-.2
7.7
54.6
2.2
•
.4
6.9
66. 1
.3
•
-.6
7.4
69.6
-.3
#
.1
5.7
71.0 FUNDS AOVANCED B Y —
HO USEHOLDS
-.6
•
ST.*LOC. GOVTS..GEN FDS.
U.S. g o v e r n m e n t
-.8
SPONSORED CREDIT AG.(1>(2)
6.6
20.7
5.4
12.2
9.5
2.7
•
16.0
2.5
12*1
10.2
1.0
.1
40.1
9.9
28.1
24.2
3.*
•1
58.4
16,0
37.6
31.9
5.7
•I
29.8
6.5
21.1
18.1
2.9
.1
41 .§
10.6
29.0
25.9
3.9
•
43.2
11.8
30.9
26.9
3.9
•
45.8
10.8
30.7
25.6
5.0
.1
44.9
14.3
29.9
25.5
4.4
.1
59.0
16.9
38.6
32.8
5.7
.1
64.0
16.5
40. 8
34.8
6.0
.1
65.7
16.2
41.1
34.4
6.6
.1
22
23
24
25
26
27
2.8
2.1
.1
.6
•
.3
3.3
2.3
.1
.0
•
.1
.9
1.1
• .6
•3
.1
1.1
.7
1.4
- -.6
-.1
.1
4.1
.4
.8
-.6
.1
•
1.7
•
.5
-.8
.1
•
1.0
.1
1.6
-.7
-.9
.1
.5
3.3
2.0
-.4
1.6
.1
1.0
•3.0
-.5
-1.2
-1.4
.1
3.7
1.6
1.0
-.4
1.0
.1
1.8
.9
1.6
-.6
-.2
.1
5.8
3.2
3.3
-.3
.1
.1
5.2
28
4.0
1.3
-2.1
•
-1.8
-9.8
.9
•
-6.0
3.7 ( D M E M O l FHLB LOANS TO
1.9
.6
SiL ASSNS. (INCLUDED IN ’’OTHER LO A N S ” CATEGORY).
26.4
1
27.8
2
3
•
-.1
.6
-.1
4
5
6
7
8
9
10
27.9
>6.2
1.3
»0.4
1.9
3.7
4.8
11
12
13
14
15
16
17 .
18
19
20
21
48.9
2
3
PRIVATE NONFIN. SECTORS
HOUSEHOLDS
NO NPROFIT INST.
BUSINESS
FARMS
N O NF AR M NONCORPORATE
CORPORATE
PVT. FINANCIAL INST.
COMMERCIAL BANKS
SAVINGS INSTITUTIONS
SVG. ♦ LOAN ASSNS.
MUT. SAVINGS BANKS
CREDIT UNIONS
(1)
INSURANCE
LIFE COMPANIES
PVT. PENSION FUNDS
S T •♦ L O C . GOVT. RET.FDS.
OTHER INSURANCE
FINANCE N.E.C
(2) INCLUDES MORTGAGE POOLS BACKINC
GNMA-GUARANTEED PASS-THROUGH 'FCURITIES.
4
5
6
.7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
??
23
24
25
26
27
6 FEBRUARY 1973
MORTGAGES. B Y TYPE
MORTGAGES. BY TYPE
MO RTGAGE MARKETS BY TYPE OF MORTGAGE
(BILLIONS OF DOLLARS)
SE ASONALLY A D J U S T E D A N N U A L PATES
SEASONALLY AD JU S T E D ANNUAL RATES
1972
1971
1969
II
1972 I
1970
II
III
III
HOME MO RTGAGES
2.0
38.1
35.8
•6
•6
-•1
1.1
17.2
13.9
.7
.7
-.1
1.8
28.9
23.4
1.0
1.0
-.i
3.7
33*7
29.1
1.5
1.5
-.1
1.7
32.2
31.7
-.1
-.1
•
.8
30.4
27.5
1.4
1.4
-.1
.2
38.4
35.5
•5
.5
-.1
2.0
40.6
39.1
.2
•2
-.1
1.5
42.7
41.3
.3
.3
-.1
.9
NET CHANGE IN LI ABILITIES
HO US EH OL DS
NO NF AR M NONCORP. BUSINESS
CO RP OR AT E BUSINESS
U.S. GO VE RN ME NT
S AVINGS ANO LO AN ASSNS.
28.0
•2
t
-.3
4.8
38.1
-.7
•
-.5
4.3
17.2
-.3
•
-.6
1.3
28.9
-.1
t
•
5.6
33.7
.2
•
-.2
6.7
32.2
.8
•
-.4
5.5
30.4
.2
•
-.3
5.0
38.4
-1.2
•
-.6
5.5
40.8
-1.2
•
-.4
3.0
42.7
-.4
•
-.7
3.8
NET CH AN GE IN ASSETS
HOUS EH OL DS
S TATE ANO LOCAL GOVERNMENTS
U.S. GO VERNMENT
•9
8.2
7.2
.«
•1
5.7
19.3
18.0
1.2
.1
7.6
26.1
22*9
3.1
.1
3.4
13.9
13.0
.9
.1
5.9
19.5
18.4
1.0
•
6.8
22.6
21.3
1.2
•
6.6
21.2
19.4
1.8
.1
7.5
18.9
16.6
2.2
.1
8.4
27.2
24.1
3.0
.1
7.4
29.1
25.8
3.3
.1
7.3
29.1
25.2
3.9
.1
CO MM ER CI AL BA NKING
S AVINGS INSTITUTIONS
SAVINGS ANO LO AN ASSNS.
MUTUAL SAVINGS BANKS
CREDIT UNIONS
-1.2
-1.3
•1
•1
-2.7
-2.1
-.6
l.l
-2.9
-2.3
-.6
4.1
-2.4
-1.9
-.6
1.7
-2.9
-2.1
-.8
1.0
-2.9
-2.2
-.7
.5
-2.5
-2.1
-.4
1.0
-4.5
-3.3
-1.2
3.7
-2.7
-2.3
-.4
1.8
-2.9
-2.4
- .6
5.8
-1.6
-1.3
-.3
5.2
INSURANCE
LIFE INSURANCE COMPANIES
P RIVATE P E NS IO N FUNDS
FINANCE N.E.C. (MTG. COS.)
1
2
3
A
5
6
15.6
16.2
-.3
-.3
-.1
•
13.4
12.5
.2
•2
-.1
•6
28.0
24.5
•a
•a
7
8
9
10
11
15.6
•2
•
.1
3.9
13.4
•5
•
-.1
5.1
12
13
14
IS
16
3.0
9.1
7.7
1*4
•
17
18
19
20
••9
•1.1
•1
•3
SPONSORED CREDIT AGENCIES (1)
MULTI- FA MI LY RE SIDENTIAL MORTGAGES
1
2
3
4.8
1.2
3.6
5.9
1.5
4.3
a.a
2.6
6.2
9.8
2.7
7.0
7.4
2.3
5.2
*. a
3.0
6.8
8.8
2.8
6.0
9.3
2.6
6.7
8.7
2.7
6.0
9.9
3.1
6.8
10.2
2.7
7.5
10.3 NET BO RR OW IN G
CORP OR AT E BU SI NE SS
2.5
NO NF AR M NONCORP. BUSINESS
7.8
4
5
6
7
8
4.8
-.1
.7
•
.5
5.9
-.2
.5
.3
.1
a.a
1.2
.4
•a
.7
9.8
.2
.3
1.2
2.2
7.4
.7
.6
.5
.7
9.8
♦
.4
.6
.8
8.8
3.5
.3
.9
.7
9.3
.5
.2
1.3
.5
8.7
.9
.4
1.2
1.6
9.9
-.3
.3
1.0
2.4
10.2
.2
.4
1.4
2.4
10.3 n e t c h a n g e i n a s s e t s
HOUS EH OL DS
a
U.S. GO VE RN ME NT
-.i
FED. NAT. MTG. ASSN.
1.3
2.3
COMMER CI AL BANKS
9
10
11
1.7
1.2
.5
2.4
2.1
.4
4.8
3.0
1.0
5.6
4.4
1.2
4.3
2.7
1.6
6.9
4.6
2.2
3.4
2.2
1.3
4.6
2.6
2.0
6.1
5.0
1.0
5.0
3.9
1.1
5.4
4.2
1.2
5.8
4.4
1.4
12
13
1.4
.6
1.9
.8
.7
•a
.5
-.1
.6
.1
•a
.3
.9
-.9
.5
1.6
•
-1.4
.5
1.0
.7
-.2
.8
.1
SAVINGS INSTITUTIONS
SA VI NG S AND L O A H ASSNS.
MUTUAL SAVINGS BANKS
10
11
i n s u r a n c e COS.
S . ♦ L . Q O V T . PE NS.FUNDS
12
13
life
CO MM ER CI AL MORTGAGES
5.5
1.3
3.8
.4
5.4
1.4
3.6
.4
10.1
1.4
7.8
14.8
1.5
11.9
1.3
7.7
1.4
5. 6
•6
9.4
1.4
7.2
.8
11.5
1.5
9.0
1.0
11.7
1.5
9. 2
1.0
12.9
1.5
10.3
1*1
14.9
1.5
12.0
1.3
15.6
1.5
12.7
1.*
15.7 NET BORR OW IN G
HO US EH OL DS
1.6
CO RP OR AT E BUSINESS
12.8
NO NF AR M NONCORP. BUSINESS
1.4
1
2
3
4
5
6
7
8
5.5
.7
•
1.6
5.4
.9
•
1.2
10.1
.2
•
3.0
14.8
.2
•
5.5
7.7
.5
•
1.9
9.4
.5
•
3.4
11.5
•1
•
3.6
11.7
-.2
•
3.2
12.9
.1
4.9
14.9
.2
—
5.6
15.6
.2
«
5.9
15.7 NET CHANGE IN ASSETS
HO US EH OL DS
.2
U.S. GO VE RN ME NT
•
CO MM ER CI AL BA NK S
5.6
S
6
7
B
9
10
11
1.4
.6
.8
1.5
1.0
.6
4.1
3.1
l.f
6.0
4.6
1.4
3.0
2.5
.5
3.5
2.9
.6
5.0
3.4
1.5
5.0
3.7
1.4
5.0
3.8
1.2
6.4
4.8
1.6
6.3
4.8
1.5
6.2
4.9
1.3
S A VI NG S INSTITUTIONS
SAVINGS AND LO A N ASSNS.
MUTUAL SAVINGS BANK S
9
10
11
12
13
1.8
•
1.8
•
2.7
.1
3.1
.1
2.3
•
2.0
•
2.8
•t
3.5
.1
2.9
.1
2.7
.1
3.2
.1
3.7
.1
LIFE INSURANCE CO MP AN IE S
OTHER INSURANCE COMPANIES
12
13
2.3 NET BO RR OW IN G BY FARM S
NET CHANGE IN A S SE TS—
H O US EH OL DS
-.5
•
U.S. GOVERNMENT
FED. LAND BANK S
1.6
COMMERCIAL BANKS
1.1
MU TU AL SAVINGS BANKS
LIFE INSURANCE CO MPANIES
.2
F A RM
i
i
i
i
i
1M
I kl
1 <9
1
ie
>
1 OC
1O
1X
1
2
3
4
i
i
1
i
i
1
1
1
1
i
i
1
1
1
1
1.?
1.6
2.0
2.7
2.2
1.3
2.2
2.3
2.6
2.9
2.9
2
3
4
5
6
7
1.2
•
.6
.3
•
•
1.1
•
.5
.3
•
-.1
•
.7
.6
-.1
♦
.7
•
1.2
.7
•
.1
1.5
•
.5
.5
#
-.2
.1
•
.7
.6
•
-.1
.8
•
.8
.7
-.1
•
1.0
•
.9
.5
-.1
•1
1.1
.3
.8
.4
-.1
1.6
-.3
.9
.6
•
.1
.5
.1
1.3
.8
.1
([)
1
2
Includes mortgage pools backing GNMA-guaranteed securities.
See preceding pace.
6 FEBRUARY 1973
CONSUMER CREDIT AND BANK LOANS N.E.C.
CO NS UM ER CR ED IT AMD BANK LOANS N.E.C*
CO N S UM ER CREDIT AND BANK LOANS NOT EL SEWHERE C L AS SI FI ED
(BILLIONS OF DOLLARS)
20
SEASONALLY AD JU ST ED ANNUAL RATES
1969
1970
1971
1972
20
S E A S O N A L L Y ADJUSTED ANNUAL RATES
I
I
1971
I
II
III
IV
|
I
1972
I
II
III
IV
CONSUMER CREDIT
1
9.3
♦ .3
10.4
19.2
4.0
9.0
12.6
14.5
13.1
18.0
18.7
26.1
2
3
8.3
1.0
3.0
1.3
8.4
2.1
16.0
3.1
2.7
1.3
6.7
2.3
10.3
2 .2
12.4
2.2
13.2
-.1
14.8
3.2
16.1
2.6
19.5
6.5
NET CH A N G E IN LIABILITIES
(HOUSEHOLDS)
INSTAL ME NT CREDIT
NO N I N S TA LM EN T CREDIT
4
5
6
7
8
9
10
9.3
8.3
.1
.7
3.4
1.5
2.6
4.3
3.0
.1
.8
1.6
1.1
• .6
10.4
8.4
.1
1.2
4.1
1.9
1.0
19.2
16.0
.1
1.7
8.5
2.5
3.2
4.0
2.7
•
•8
1.3
1.5
-.8
9.0
6*7
.1
1.0
3.3
2.0
.3
12.6
10.3
.2
1.3
5.1
2.1
1.6
14.5
12.4
.2
1.2
6.2
2.0
2.7
13.1
13.2
.1
1.3
6.3
3.2
2.2
18.0
14.8
.1
1.0
8.5
2.1
3.2
18.7
16.1
.1
1.9
9.0
2.3
2.9
26.1
19.5
.1
2.6
10.1
2.4
4.3
4
NET C H AN GE IN ASSETS
IN ST AL ME NT CREDIT
5
N O N F A R M NONCORR. BUSINESS 6
7
C O RP OR AT E BUSINESS
8
CO MM E R C I A L BA NK IN G
SA VI NG S INSTITUTIONS
9
10
F I NA NC E COMPANIES
11
12
13
1.0
.5
.6
-.1
•
1.3
.4
.6
.3
.1
2.1
.4
.8
.7
.1
3.1
.9
.6
1.5
.1
1.3
•
.7
2.3
.5
.9
•s
.T
.1
•2
2.2
.7
•S
.9
•1
2.2
.7
.6
.7
.1
-.1
•8
-2.1
1.0
.2
3.2
•8
1.3
1.0
•1
2.6
1.0
•
1.5
.1
6.5
1.0
2.9
2.6
.1
36.9
49.6
45.7
52.3
TOTAL BA NK LOANS AT COMMERCIAL
81.3
BANKS* F/F BASIS
1
2
3
4
5
6
7
8
9
14
IS
noninstalment
credit
NO NF AR M NONCORP. BUSINESS
C O RP OR AT E BUSINESS
C O M M ER CI AL BANKING
S A VI NG S INSTITUTIONS
1
2
3
11
12
13
14
15
BANK L O A N S NOT EL SEWHERE CL AS SI FI ED
I
27.1
12,1
30*6
57 *3
16.9
28*5
2
3
4
5
6
7
s
9
5*4
3.3
•1*1
•S
2.5
1.9
1.4
2.0
9. 9
4*8
.8
.8
16.0
10.1
4.4
-.1
6*5
1*8
-1.3
.9
10*6
4*8
-.7
-.2
>9.0
4.4
14.4
4.4
14*4
26.9
.
26.9
9.0
19.0
9.0
14.8
•
14.8
10
n
12
13
14
15
16
17
19.0
2*8
.6
2.0
12*1
*1
2*1
-.6
4.4
1.5
•8
.4
2*3
-.1
-.5
•
14*4
' 3.9
l.S
1*8
3.9
.7
.7
2.7
26.9
4.1
1.4
2.3
11.4
.8
4*6
2.4
9.0
2*3
•4
1.4
-1.3
-.7
7.2
•*4
14.8
4.6
1*4
1.9
2.8
1.7
-.3
2.7
m
39*9
21.6
10.8
6.9
3.8
3.3
m
12.1
•
12.1
14.3
7.4
4.5
.2
•
23.2
•
23.2
16.9
9.5
6.6
-1.3
m
14.0
•
14.0
16.5
10.5
.3
-1.2
•
26.1
•
26.1
LESS I LO AN S IN OTHE R CATEGORIES
16.2
M O RT GA GE S
CO NS U M E R CREDIT
12.7
SE CU RI TY CREOIT
6.2
1.8
CO MM E R C I A L PAPER
•
HY PO TH E C A T E D DEPOSITS
EQUALS! BANK LOANS N.E.C*
44.5
•
PLUSI LO A N S BY F.R. BANKS
44.5 E Q U A L S 1 TOTAL BANK LOANS N.E.C
21.6
2.5
2.1
1.6
11.4
.4
-2.4
5.9
12.1
6.2
1.4
2.2
.4
1.3
-1.7
2.3
23.2
5.7
.9
3.7
6.2
-1.3
7.4
.6
14.0
1.9
1.4
2.1
6.5
1.7
-2.4
2.8
26.1
4*3
.9
.4
10.0
.6
6.6
3.4
44.5
4.4
2.5
2.9
23.0
2.1
6*7
2.9
11.8
6.1
1.3
-.8
.
21.6
•
NET C H AN GE IN LIABILITIES
HO US EH OL DS
FA R M BU SI NE SS
N O N F A R M NONCORP. BUSINESS
C O RP OR AT E BUSINESS
SVGS.* l o a n a s s n s .
FI N A N C E COMPANIES
RE ST OF THE WORLD
10
11
12
13
14
15
16
17
6 FEBR UA RY 1973
BANK C R ED IT RE LA TI ON SH IP
BANK CREDIT RELATIONSHIP
2i
R E LA TI ON OF F/F BANK CREOIT TO L.4.3 SEASONALLY ADJUSTED
(BILLIONS OF DOLLARS)
SEASONALLY ADJU ST ED ANNUAL RATE S
SE AS ON AL LY AOJUSTED ANNUAL PATfS
1969
1970
1971
1
1972 |
1
2
3
12.2
11.5
.7
33.7
33.8
-.1
50.1
49.8
.3
69.4
68.5
.9
4
5
.7
•6
-.2
-1.0
.3
-.9
6
7
8
9
.1
.1
.1
-.1
.9
.9
.1
-.1
10
11
12
-9.3
-9.5
.2
13
14
15
16
17
18
19
20
1971
IV
62.7
77.2
-14.5
58.9
50.0
8.9
64,3
71.2
-6.9
91.7
75.6
16.1
1.4
-1.0
-3.6
-.5
2.2
-.3
-1.7
•
4.0
•
-.6
-2.0
2.0
— .6
2.3
1.7
-.4
1.1
-3.1
-l.l
-1.3
-.7
2.5
2.3
.1
.1
-1.7
-2.8
2.1
-1.0
4.0
3.3
-.8
1.5
SE ASONALS
METHOD ’
BALANCE ADJUSTMENT
OTHER
2.8
1.7
1.1
-.9
-2.9
2.0
2.6
.8
1.8
-.2
1.6
-1.8
1.1
.9
.2
.4
-.4
•8
2.3
* •8
3.1
U.S. GOVT. SE CURITIES —
F/F* SAQR
L.4.3* SAQR
TOTAL DIFFERENCE* SAQR
-.3
1.4
1.3
•6
.3
.7
*
.8
-1.1
-.2
-.3
-.6
-.3
-1.3
-.1
1.1
.7
.2
.8
-.2
1.2
1.9
-.4
-.3
-2.1
.1
-1.5
-.7
-.5
-2.4
•6
1.3
•8
.3
.8
-.3
2.2
2.5
•
-.2
4.8
6.0
-1.2
3.9
4.0
-.1
2.1
2.9
-.8
3.2
5.0
-1.8
3.1
4.4
-1.3
1.6
1.7
-.1
2.7
2.6
.1
1.3
2.3
-1.0
-2.6
-.6
-.9
— .8
-1.5
-.7
-1.0
-.1
-.8
.2
.2
-
-.6
-.4
-.2
.8
l.«
-.3
.1
.3
-.2
-.2
-1.0
.7
-.6
-.3
-.3
.9
1.2
-.3
.1
.3
-.2
-.2
-1.0
.8
57.3
56.0
1.3
4.5
4.5
*
6.6
5.9
.7
9.9
11.3
-1.4
8.9
7.6
1.3
12.8
13.2
-.4
12.0
9.9
2.1
13.0
15.5
-2.5
19.4
17.4
2.0
-
-
-
1.3
1.1
•2
•
-.1
•
.7
.1
-.7
-.1
.7
1.6
.1
-.5
-.5
IV
44.4
54.4
-10.0
52.8
46.4
6 •4
44.5
45.2
-.7
58.7
53.2
5.5
.9
-.7
-2.5
-.8
1.6
.5
-.2
.4
1.2
1.3
#
-.1
1.7
1.7
•
-.1
-1.7
.2
-1.0
-.9
1.1
1.4
-.6
.3
9.5
6.5
3.0
6.2
2.7
3.5
3.5
1.3
2.2
1.7
3.1
-1.4
.3
2.5
2.9
1.8
-.1
-.3
.1
.5
.5
•
-
.5
.5
•
*
.4
.4
•
-
.1
-.2
.3
11.3
14.7
-3.4
14.1
17.9
-3.8
8.6
11.0
-2.4
21
.3
-3,5
-3.8
22
23
24
•
•
.1
.1
•
#
-
25
26
27
21.4
21.2
.2
29.9
29.3
.6
28
-
-
29
30
.2
.5
-.1
•
-.1
.3
«5
-.2
.1
-.1
31
32
33
.6
.4
.3
♦
-.1
1972
III
III
12.9
12.6
.3
1
I
II
II
-
21
I
-1.4
-2.5
•
1.2
-.2
I
-
-
-
1.3
.7
*
-.1
.7
-.4
-1.0
.2
.1
.3
2.1
3.5
.1
-.5
-.9
-2.5
-3.4
.1
1.3
-.4
2.0
2.1
-.2
-.9
1.0
TOTAL BANK CREDIT S A A R —
F/F
L.4.3
DIFFERENCE
DIFFER EN CE AT QUARTERLY
DE F I NI TI ON ♦ TIMING
D E F I NI TI ON ♦ TIMING
SE ASONALS
METHOD
BALANCE ADJUSTMENT
OTHER
OTHER SE CU RI TI ES —
F/F* SAQR
L.4.3* SAQR
TOTAL DI FFERENCE
SEASONALS
ME TH OD
OTHER
TOTAL LOAN S —
F/F. SAQR
L.4.3* SAQR
TOTAL DIFF ER EN CE
SEASONALS
M ETHOD - I
M ETHOD - 2
BA LA NC E ADJUSTMENT
OTHER
’’L .4 .3 " in this table is a short reference to seasonally adjusted bank credit as published in the Federal Reserve
Bulletin on page A-23. Both the Flow of Funds and L .4 .3 data in this table exclude credit on nonconsolidated affiliates.
18
19
20
22
23
24
25
26
27
DE FI NI TI ON ♦ TIMING
Relationship to Seasonally Adjusted Bank Credit
30
31
14
15
16
17
definition
NO T E — SOURCE DATA SHOWN HERE INCLUDE CCC AND EX PO RT-IMPORT
BANK LOAN PA RT IC IP AT IO NS IN O T HE R IN VE ST ME NT S FOR ALL PERIODS.
PU BL IS HE D DATA INCLUDE THEM IN LOANS BEFORE 11/66.
Line
7, 15, 23
8, 16, 31
9
17, 24, 33
10
11
1?
Difference in seasonal between L .4 .3 components adjusted individually as flows and the seasonal in L .4 .3 .
Adjustments to F/F bank credit components used in balancing seasonals in the flow-of-furrds matrix as a whole.
Sum of lines 17, 24, and 33.
Difference m seasonal between F/F bank credit components and the corresponding L .4 .3 components adjusted as
flows. Line 35 is the sum of differences for several loan types.
Sum of seasonals for F/F loans by type less sum of seasonals for L .4 .3 loans by type.
Sum of seasonals for L .4 .3 loans by type less seasonal on total loans in L .4 .3 adjusted directly.
29
30
31
32
33
6 FEBRUARY 1973
OTHER LOANS
OTHER LOANS
OP fN -M AR KE T PAPER ANO OTHER LOANS
(BILLIONS OF DOLLARS)
SEASONALLY ADJU ST ED ANNUAL RATES
SE AS ON AL LY ADJUSTED ANNUAL RATES
1971
1970
I
II
III
OTHER LOANS —
1
2
3
4
5
6
7
8
9
10
11
28.1
3.0
.6
1 .8
7.0
.7
-.3
4.2
4.0
4.7
2.4
12
13
14
15
16
17
18
19
20
21
22
28.1
5.9
2.7
3.5
4.8
•
.5
.3
3.4
6.0
1.0
11.0
2 .6
.6
1* 2
5.2
•1
3.3
1.3
.7
.8
1.2
6.4
1.4
-1.9
1.3
2*1
-.4
-2.7
-.2
2.)
11.0
-1.8
•6
2.6
2.3
•
2.0
.2
3.0
1.7
.5
3.3
-3.9
1.8
3.2
-2.0
.2
.8
.3
1.6
1.4
-.2
-.2
1972
.7
•
•5
•5
2.6
1.7
.9
2.5
5.1
.4
.3
-2.6
-1.8
-7.0
3.2
-6.5
1*2
.9
1.1
-1.2
-.3
-.1
.2
-9.8
-1.8
2.5
7.8
1.2
.5
.4
.8
1.0
-.2
.7
.9
1.5
1.1
6.4
-2.0
2.0
2.1
•8
-.2
-.1
.1
2.3
1.5
-.1
2.6
-7.7
1.4
5.0
-.6
.3
.9
1.1
3.3
-.7
-.4
-6.5
-4.1
-5.3
3.5
-8.7
-.3
-.2
-.2
3.2
3.8
1.8
7.8
.2
4.9
2.1
.8
.5
.3
2.4
.2
IV
|
II
III
IV
SECTOR TOTALS
-.8
.2
1.1
- 2.2
1.5
9.1
1.3
•6
-.9
.2
.4
2.6
1.4
.3
.1
6. 1
1.1
4.5
1.4
.4
.5
4.7
- 1.2
1.3
1.2
.2
.5
-3.2
•6
17.4
1.6
.9
.8
-.8
5.7
1 .6
-3.3
2. 1
.6
1.5
- 2.6
1.6
1.9
-1.1
-.5
1.1
3.7
4.9
3.1
4.5
1 .6
2.7
•6
1.3
-.3
-1.3
.5
3.6
2.5
-3.4
1.3
-3.6
-2.6
2.8
2.6
•
-1.2
-.1
4.4
-.1
-1.0
17.4
1.4
3.8
2.3
4.4
.2
1.8
.2
.2
2.1
1.1
-6 .0
9.1
-4.0
6.2
2.0
.5
.8
3.3
2.6
-4.3
4.1
2.8
-5.2
-.5
.2
-.1
- 1.1
4.8
-3.5
1 .0
1.5
3.0
-
1.8
.3
NET INCREASE IN LI AB IL IT IE S
H O US EH OL DS
FA RM BU SI NE SS
N O NF AR M NONCORP. BUSINESS
CORP OR AT E BU SINESS
STATE AND LOCAL GO VERNMENTS
SPON SO RE D CR .A GE NC IE S
BANK AFFI LI AT ES
SAVINGS INSTITUTIONS
F I NA NC E N.E.C.
REST OF THE WORLD
1
2
3
4
5
6
7
8
9
10
11
NET INCREASE IN ASSETS
H O US EH OL DS
CORP OR AT E BU SINESS
U.S. GOVE RN ME NT
SPON SO RE D CREDIT AGENCIES
MONE TA RY AUTHORITY
CO MM ER CI AL BA NK IN G
MU TU AL SVGS. BANKS
INSURANCE
F INANCE N.E.C.
REST OF THE WORLD
12
13
14
IS
16
17
18
19
20
21
22
O P EN -M AR KE T RAPER
1
12.2
1.7
-1.8
.9
-7.8
-3.6
2
3
4
6.6
3.6
3.8
-.8
.3
•l.l
-.6
-.1
. -.5
1.1
•9
.2
-8.8
-6.4
-2.4
-.7
-.5
-.2
2.9
2.0
.9
4.2
4.4
-.1
•2.1
•2.6
•6
1.3
2.1
-.8
5.9
5.4
.5
DI RE CT LY -P LA CE D PAPER
-1.4
.7
5
•
7
8
4.6
2.3
1.1
1.2
•9
2.2
-.5
-.8
-1 .3
-1.2
-.1
.1
.8
.7
-.4
.4
-.4
.5
-.7
-.2
-4.2
-4,1
-.5
.4
-.2
.6
-.6
— 2
-.2
-2.0
1.3
.4
i.i
1.5
-.6
.2
3.9
4.6
— .6
•
-1.7
-3.0
.3
.9
-.3
-.3
*•6
.6
o e a l e r -p l a c e o
9
10
11
12
13
1.8
.3
.7
.4
•4
1.6
.8
.8
.4
.4
.8
.3
•5
•3
•3
-1.0
-.8
-.2
-.1
-.1
1.4
.3
1.0
.5
.5
1.4
-.2
1.8
.8
.8
1.6
.2
1.3
.7
.7
-1.0
.9
-1.9
-.9
-.9
1.4
.6
.8
.4
.4
-4.2
-3.7
-.5
-.3
-.3
-2.4
-2.1
-.4
-.2
-.2
1.3
2.1
— .8
-.4
-.4
BANKERS* ACCEPTANCES
REST OF THE WORLD
NONFIN, BUSINESS
NO NC OR PO RA TE
CO RP OR AT E
14
15
16
17
18
19
20
21
12.2
5.9
2.7
•
.5
.9
1.2
1.0
1.7
-1.8
.6
•
2.0
.8
-.4
.5
-1.8
-3.9
1.8
.2
.8
.7
.9
-2.0
2.0
-.2
-.1
1.2
•
-.1
-7.8
-7.7
1.4
.3
.9
2.4
-4 . 7
-.4
-3.6
-4.1
-5.3
-.3
-.2
2.8
2.2
1.8
4.3
.2
4.9
-.8
.1
>1.5
1.5
3.0
-4.0
6.2
.8
3.3
-2.1
2.2
-3.5
.4
’4.3
4.1
-.5
.2
.2
•2.4
3.0
1.0
-1.6
2.7
-.3
-1.3
2.3
2.6
-3.4
-4.9
-3.6
-2.6
•
-1.2
3.4
•
-1.0
6.9
1.4
3.8
.2
1.8
-1.1
-.2
1.1
2.5
-.3
2.8
3.9
-.3
4.2
-.1
-.4
.3
-.1
2.3
-.1
2.4
FI NA NC E CO. LOANS TO BUSINESS
LIABIL IT Y- NO NC OR P. BUS.
CORP. BUS.
.6
2.8
2.3
.3
.3
.1
.3
.4
.7
-.2
-.2
.2
.2
.1
.2
.1
.6
.3
•3
.1
•2
.3
5
6
7
8
9
10
11
.5
.2
.4
-.2
6.9 OP EN MA RK ET PA PE R- TO TA L
NET ISSUES* BY TYPE AND S E CT OR—
finance
companies
BANK AFFILIATES
paper
NONFIN. CORPORATIONS
FI NA NC E COMPANIES
BANK AFFILIATES
NET PURCHASES* BY SECTOR
HOUSEH OL DS
NONFIN, CO RP OR AT IO NS
federal
reserve
COMM ER CI AL BANKS
LIFE INSURANCE COS.
investment
companies
REST OF THE WORLD
OTHER 1YPES
1
2
3
4.8
.6
4.2
2.1
-.3
2.3
1.9
•.1
2.0
1.5
-.2
1.7
4.0
.3
3.8
1.6
-.2
1.8
-.7
-.2
-.5
4
3.4
2.5
3,1
2.1
4.9
3.5
2.1
5
6
7
8
9
10
11
.4
•
.3
.1
.7
-.3
2.1
.3
-.1
.6
.3
.1
.3
•
.1
.1
.2
1.3
.8
-.1
.4
.3
.4
.3
2.8
.3
•
.6
.3
-.3
-.1
2.7
.1
1.3
.4
•
.4
.2
.4
1.8
1.0
-.2
.8
12
13
14
15
4.8
.2
•6
4.0
2.3
.3
.7
1.3
-2.0
#
.7
-2.7
.8
.3
.4
•
-.6
.3
1.0
-1.8
-8.7
.1
.9
-9.8
.8
-.6
.5
.9
16
17
18
2.6
.1
2.5
2.3
.1
2.2
1.0
•
1.0
1.1
•
1.1
.9
•
.9
.9
1.1
1.0
.7
.9
1.1
1.0
.7
19
.3
.2
.3
.1
1.1
-.2
20
-
_
.
_
.
•
.
.3
1
2
3
1.1
.4
.1
-1.2
1.5
1.1
1.6
1.0
U.S. GOVT. LOANS
L I AB IL IT IE S OF I
HOUS EH OL DS
FA RM BU SINESS
N O NF AR M NONCORP. BUS.
CO RP OR AT E BUSINESS
STATE ♦ LOCAL GOVTS.
SP ON SO RE O CR.AGENCIES
REST OF THE WORLD
-5.2
.3
.5
-6.0
1.3
.2
.5
•6
2.6
.5
.1
1.9
4.4
.1
.6
3.7
SPON SO RE D CREDIT AGENCY LOANS
N O NF AR M NONCORP. BUS.fBC)
FA RM BU SI NE SS (FICB)
SVGS. ♦ L O AN ASSNS. (FHLB)
12
13
14
15
1.3
•
1.2
1.0
»
1.0
1.3
*
1.3
PO LI CY LOANS (HSHOLD LIAB.)
ASSETS - U.S. GOVT.
LIFE INSUR. COS.
16
17
18
-.1
•2
MU TU AL SVGS. BANKS LOANS TO
NONCORP. BUSINESS
4
19
HY PO TH E C A T E D DE PO SI TS (HSHOLDS LIAB.)
A S SE T- CO MM ER CI AL BANKS
20
6 FEBRUARY 1973
SECURITY CREDIT. TRADE CREDIT* ANO TAXES
SECURITY CREDIT. TRADE CREDIT* ANO TAXES
SECURITY CREDIT* TRADE CREDIT. AND TAXES PAYABLE
(BILLIONS OF DOLLARS)
SEASONALLY ADJU ST ED ANNUAL RATES
*969
1970
1971
23
SE ASONALLY ADJUSTED ANNUAL RATES
I
1972 I
1971
I
II
III
IV
|
I
1972
I
II
HI
Iv
S ECURITY CREDIT
1
2
3
4
-4.7
-2.7
-.1
•2.6
5
6
7
8
•2,1
*1.0
•
-1.0
-.5
-1.9
-.5
-1.4
1.4
1.9
•
•|6
2.7
2.1
1
2.0
•
11.4
7.0
1.0
6.0
2.9
1.9
•
1.9
.5
3.0
.2
2.8
.5
.7
•
.7
6.9
2.9
.3
2.6
13.6
8.4
•6
7.8
11.0
6.8
1.1
5.7
8.8
6.4
.8
5.6
12.1
6.2
1.2
5.0
NET CHANGE IN LIABILITIES
CU ST OM ER S
SECURITY LOANS FROM BANKS
CUSTOMER DEBIT BALANCES
1
2
3
4
.6
.7
4,4
3.4
1.0
-1.3
4.0
.6
5.2
3.9
m
1.3
4.2
5.4
m
-1.2
2.4
-.6
m
3.0
5.8
5.0
2.3
-.2
1.3
.
-1.5
.3.5
•»
1.0
•2.5
-.9
•
>1.6
BROKERS ♦ DEALERS
FROM COMMERCIAL BANKS
FROM FO RE IG N BA NKING AG.
CUST OM ER CREDIT BALANCES
5
6
7
6
2.7
2.9
1.6
.6
-1.3
1.9
•5
’1.2
-.4
-.7
2.8
•5
-1.2
-.3
1.3
.7
6.9
.6
-.1
3.8
2.6
13.6
1.2
.1
4.5
7.8
11.0
-1.2
-.1
6.6
5.7
8.8
3.1
-.1
.3
5.6
12.1
.7
.2
6.2
5.0
NET CHANGE IN ASSETS
HOUSEH OL DS
FO RE IG N
CO MM ER CI AL BANKING
BR OKERS AND DEALERS
9
10
11
12
13
NET CHANGE IN LI ABILITIES
HO US EH OL DS
FARM BU SINESS
NO NF AR M NONCORP. BUSINESS
(PAYABLES LESS RECEIVABLES)
1
2
3
4
CO RPORATE BUSINESS
STATE AND LOCAL GOVERNMENTS
U.S. GO VE RN ME NT
FO RE IG N
5
6
7
S
•
-•»
•
a
.8
9
10
11
12
13
*4.7
-.8
-.2
*1.1
-2.6
-.5
-.5
-.1
1.4
-1.4
•
.8
2.0
11.4
.9
•
4.4
6.0
1
2
3
4
16.6
•S
.7
-.7
7.1
•6
1.1
.6
3.8
•6
1.4
-1.8
11.6
.6
.4
-.4
4.5
.6
1.8
-1.3
-.9
.6
1.8
>1.5
4.5
.6
.6
-.2
7.3
.6
1.5
-.1
14.0
.6
.2
-.3
7.9
.6
.7
— .6
13.1
.6
.5
.2
11.2
.6
.3
-1.0
5
6
7
8
15.2
•4
-.3
.8
2.8
.4
-.6
2.1
3.4
.5
-.7
-.4
10.8
.5
-.7
.4
6.8
.4
.1
-3.9
*1.5
.4
•l.S
.7
2.8
.4
.3
.1
4.8
.5
-1.6
1.6
13.4
.5
— .6
.3
8.9
.5
-2.2
•
11.0
.5
.4
-.1
9.9
.5
-.4
1.3
9
10
11
12
13
19.4
*7.3
•9
.4
•8
7.2
6.2
-.8
.5
1.3
2.8
4.0
-1.7
.5
•
17,0
16.4
-.2
.5
.3
6.2
7.9
-1.7
.5
-.4
•1.4
1.8
•3.4
.5
-.3
3.6
3.6
-.4
.5
-.2
3.0
2.8
-1.2
.5
.9
18.5
17.7
•
.5
.2
16.0
14.5
•
.5
1.0
15.4
15.2
-.7
.5
.3
18.3
18.3
-.1
.5
-.3
NET CHAN6E IN ASSETS
CORPORATE BU SINESS
U.S. GO VE RN ME NT
INSURANCE
FO RE IG N
9
10
H
12
13
14
-2.9
-.1
1.8
-5.5
-1.8
.5
.9
4.3
-4.4
-8.1
-2.2
-7.1
DISC RE PA NC Y
14
1.1
1.1
.1
•
-.2
.9
-.1
•1.1
.1
-.1
.1
•
•
-2.2
-2.5
•
•
.1
•
.1
•
•
1.5
1.3
-.3
•1
.1
.1
.1
•
•
3.4
2.5
•
•2
.1
.2
.2
.1
.1
TOTAL TAXES PAYABLE
NONFIN AN CI AL CO RP OR AT IO NS
FEDERAL RESERVE
CO MM ER CI AL BANKS
SVG. ♦ L O AN ASSNS.
LIFE INSURANCE COMPANIES
OTHER INSURANCE COMPANIES
FINANCE COMPANIES
BR OK ER S ♦ DEALERS
•
TRADE CREDIT
(1-9)
PROFIT TAXES PAYABLE
-2.1
-2.7
5
6
7
8
9
-3.1
-3.3
•
.1
•
.1
.1
•
-.1
10
11
12
*3.2
-2.6
-.6
-3.9
-3.0
13
.1
1.7
1
2
3
4
3.8
4.8
•
•
•
.3
•
.1
.1
.1
-.1
•
•
•
-
.6
.6
-.1
-.2
.1
.1
.1
•
2.9
3.0
-.4
.1
•
.1
•
9.2
10.0
t
-.7
.1
-.1
•
.4
.1
-.3
-.3
1
2
3
4
S
6
7
8
9
•
•
•
•1
-.8
-1.3
.5
.6
.5
.1
5.7
5.4
.3
.8
.6
.2
-1.5
-2.0
.6
•1.4
1.9
.5
-3.6
-4.1
.5
-.2
-.7
.5
2.1
1.6
.5
TOTAL TAXES RECEIVABLE
U. S. GOVERNMENT
STATE ♦ LOCAL GOVTS.
10
11
12
2.4
1.4
2.3
3.3
1.3
2.6
1.3
1.4
1.7
1.3
UN AL LO CA TE D
13
1.4
•
•
2.1
1.9
.2
.1
.1
•
-.2
•
IN NO NC OR PO RA TE BUSINESS
I
i
i
i
I
I
I
i
PROPRIETORS* EQUITY
................
....----
•
•
1
-3.2
-4.9
-3.*
-2.3
-4.3
-3.6
-2.2
-2.4
-2.0
-2.8
-1.9
-2.5
TOTAL HO US EH OL D INVESTMENT
1
2
3
•
-3.2
-1.7
-3.2
-.1
-3.)
-.1
-2.2
-.8
-3.6
-.6
-3.8
.1
-2.4
1.0
-3.4
.1
-2.1
-.1
-2.7
.1
-2.0
-.4
-2.1
N O NF AR M NONCOR PO RA TE BUSINESS
FARM BUSINESS
2
3
e February
1973
MISCEL LA NE OU S
I
MISCELLANEOUS I
24
MI SC EL LA NE OU S FINANCIAL CL A IMS
(BILLIONS OF DOLLARS >
24
SEAS ON AL LY ADJUSTED ANNUAL RATES
9E AS 0N AL LY AD JU ST ED ANNUAL P A T E S
I
|
197?
1971
1969
1970
1971
1^72
1
z
3
4
32.5
.4
4.8
-.4
5.3
.4
3.4
.5
14.3
.5
3.6
.8
16.4
.5
•
.c
20.0
.4
.8
5
6
7
8
25.0
,4
.4
18.9
-1.7
2.1
.4
-10.0
4.5
-.5
-.2
-1.3
1 1 .6
.3
•
3.7
9
10
11
12
13
.4
.2
1.4
3.3
2.7
.6
.1
1.7
3.4
2.6
14
15
16
17
18
19
17.3
2.1
.4
.7
3.0
.1
88
11
t?
IV
III
IV
-7.0
.4
-1 .*
1 .<=
34.9
.5
5.8
-1.0
9.6
.5
9.3
2.5
25.9
.5
-.6
-1.2
11.7
.5
-2.5
1.5
13.1
,«1
1.2
-.9
15.0
.5
1.7
1.6
8.3
4.0
-.7
-1.2
-1 ?*2
-5.5
-.4
-13.9
24.0
.6
1.2
15.7
-2.2
-1.2
-.9
-5.7
19.4
1.8
.7
9.2
14.0
-.6
.4
7.2
4.7
1.0
-.5
-3.4
8.4
-1.0
-.7
1.9
.8
.1
2.0
3.5
5.0
1.8
,4
1 .9
3.6
4.1
1.0
*
1.8
3.5
10.2
1.7
.2
2.1
3.5
4.5
.8
.3
2.0
3.5
5.8
-.3
.1
2.2
3.5
-.4
1.7
.5
2.0
3.6
7.9
1.2
.4
1.9
3.6
-1.8
1.9
.4
1.9
3»«?
7.6
2.5
.4
1.7
3.6
2.8
10.3
2.6
.5
.7
4.3
.3
5.8
2.4
.4
.7
5.1
.1
14.5
2.5
.4
.7
3.3
-.2
13.0
2.5
.4
.7
6.4
-.2
-9.3
2.4
.4
.7
5.8
-.2
18.2
2.4
.3
.7
6.2
.4
1.2
2.5
.5
.7
2.0
.2
16.7
2.4
.3
.7
6.1
-.3
14,6
2.5
.4
.7
-1.1
.2
17.3
2.4
.3
.7
4.6
.1
9.6
2.6
.5
.7
3.7
-.7
2.9
.1
1.9
7.7
1.0
3.0
4.3
.6
1.9
3.8
-.6
2.1
16.7
.9
7.9
-8.6
.8
-5.7
9.6
1.7
6.3
-.7
-1.2
-.9
8.2
- .5
2.7
1.2
.3
.4
3.9
•
1.7
2.1
-2.3
3.5
13
24
25
26
*?
28
-.2
•
.9
.3
•
8.0
2.5
.3
.8
•
.2
-5.7
.2
♦6
.8
.1
.1
-7.1
.9
.9
.8
-.4
.2
4.0
5.4
.8
.8
.8
.1
-13.4
-4.5
.6
.8
- .6
.1
-9.8
-.6
.9
.6
.3
.1
-1.3
.5
.2
.8
-.3
.2
-4.0
2.2
3.1
.8
-.3
.1
-.8
-.2
-.3
.8
-.1
.2
10.7
1.3
.5
.8
-.5
.2
5.3
.2
.5
.9
-.9
.2
.7
29
15.2
-5.0
8.5
1.9
7.0
2.4
16.7
8.4
9.1
-2.9
-4.2
5.4
I
IT
T
II
III
TOTAL LI AB IL IT IE S
households
corporate business
i .s. g o v e r n m e n t
total finance
sponsored c r , agencies
MO NETARY AUTHORITIES
commercial
banking
♦ LOAN ASSNS.
MUTUAL SVGS. BANKS
LIFE INSURANCE COMPANIFS
NONLI^F INSURANCE COMPANIFS
REST OF THE WORLD
savings
1
?
1
4
5
6
7
R
9
10
11
1?
13
14
assets
15
HO US EH OL DS
FARM p u s i n e s s
16
NO NF AR M NONCORPORATE RUSINF 17
1«
CO RPORATE BUSINESS
U.S. GOVERNMENT
l«
total
TOTAL FINANCE
SPON SO RE D CR. AGENCIES
commercial
banking
SAVINGS ♦ LOAN ASSNS.
MUTUAL SVGS. BANKS
LIFE INSURANCE COMPANIES
PRIVATE PE NSION FUNDS
S. ♦ L. GOVT. RTR, FUNOS
RFST OF THE WORLD
un a l l o c a t e d * net
20
21
??
23
24
25
26
27
28
29
(A) DEPOSITS
COML.
30
31
92
7.9
6.8
1.2
-6.9
-7.2
.2
-4.1
-4.8
.7
1.3
.5
.8
-10.3
-10.4
.1
-5.6
-6.2
.6
5.0
3.9
1.1
-5.4
-6.3
.9
1.6
2.5
-.9
1.4
-.4
1.7
4.0
2.4
1.6
93
94
95
96
97
-.5
-.4
-.1
•
•
-.2
-.4
*
.1
.1
.4
.4
-.2
.2
•
.2
.5
-.4
.1
»
1.1
1.1
-.3
.3
.1
-.2
.1
-.3
-.1
.2
.8
.6
•
.2
•
-.2
*
-.1
.3
-.4
.8
.7
-.4
.5
•
1.0
.8
-.1
-.1
.3
.2
.5
-.1
-.1
-.2
98
-
-
-
-
-
-
-
-
-
-
-
-1.6
-2.5
.9
WANK LIAB. TO FGN. AFFILIATES
AS SE T- RE ST OF THE WORLD
LIABI CO MMERCIAL BANKS
FGN. BANKING. AG.
30
31
3?
FORFISN CU RRENCY EXCEPT O F FI CI AL—
LIAB IL IT Y« RE ST OF THE WORLD
-1.1
ASSETCORPORATE BUSINESS
.1
U.S. GOVT.
-1.2
•
COMMERCIAL BANKS
•
FGN. BANKING AG.
33
34
35
36
37
POSTAL SA VINGS DE PO SITS(U.S.GOVT. LIAB.)
ASSET - HOUSEHOLDS
-
38
(B) EQUITIFS
99
2.2
3.6
3.4
1.5
4.1
4.4
4.3
.7
4.0
-3.2
2,8
.5
•1.4
1.4
1.0
40
.8
1.0
-.2
.7
.4
-.1
-1.6
41
.2
.2
.3
.3
.1
.2
.4
.2
.1
.3
42
-.3
1.3
-.5
-.2
4.5
-5.5
-1.2
-.1
1.0
-1.1
43
44
.2
-
.3
-
.1
-.1
•
•
.1
»
.3
.4
_
.2
.
.1
-
45
46
47
48
•
.1
.1
.1
•
.1
•
«
.1
-.1
•
•
•
*
•
•
»
•
.1
•
•
»
«
.1
.1
.3
-
-
•
.1
*
•
.1
.1
«
•
.1
.1
*
»
«
.1
.1
•
.4
DIRECT FGN. INVESTMENT RY U.S.CORP.
L I AB .- RE ST OF THE WORLD
2.4
DIRECT INVESTMENT IH U.S.
AS SET-REST o f t h f w o r l d
1.9
39
40
U.S . OVT. EGUITY IN IBRD, ETC.
L I AB IL IT Y- RE ST OF THE WORLD 41
.5
DEPO SI TS AT
.3
-l.l
ft
.3
_
.2
.1
•
( S.* L.ASSNS, ASSET)
L i a b i l i t y - s p o n s o r e c c r .a g s . 4?
FQ OITIFS IN U.S.G.CR.AGENCIFS
L . s .g o v e r n m e n t
PR IVATE
N O NF AR M NONCORP, (RC>
F A R M BUS. (FICB ♦ FLB)
S V G S . ♦ LOAN ASSNS.(FHLB)
CO RPORATE BUS.(FNMA)
43
44
45
46
47
48
6 FEBR UA RY 1973
MISCEL LA NE OU S II
MI SC EL L1 NE OU S I!
MI SC EL LA NE OU S FINANCIAL CL AI MS (CONTINUED}
(BILLIONS OF DOLLARS)
S E AS ON AL LY ADJU ST ED ANNUAL PATFS
1969
1970
1971
S E A S O N A L L Y ADJUSTED ANNUAL RATES
1
1972 |
1971
I
II
III
IV
1
1
1972
T
II
III
IV
tC>
I
2
3
4
.4
.4
1.0
.4
*6
1.2
.6
.6
?*?
*•}
•T
*1
*•*
i
•;
•;
•?.
lr4
.5
.5
.4
.4
•5
.5
.5
DEFE RR ED AND UNPA!
.5
.«*
.5
L I A B I L I 7 Y • HO US EH OL DS
LIFE COMPANY 1
1.2
1.2
.6
.6
.6
.6
1.1
.5
•6
1.2
.6
.6
1.1
«S
•6
1.1
.5
•6
1.1
.5
.6
1.1
.5
.6
1.1
.5
.6
1.2
.6
.6
*7
*3
1 *3
3,6
1,3
•;
*3
1»3
3 *5
l *1
*7
3 *5
U3
*7
V*3
I*3
3,5
1.3
»7
*3
1*3
3,5
1.2
»7
.3
1.3
3,6
1.3
»7
.3
1.3
3,6
1.3
*7
.3
1*3
3#*
1.3
.7
.3
I. ?
LIFE INSURANCE CLAIMS
ERVE S ( HO US EH OL DS ASSET)
L I A B I L I T Y - L I FE INSURANCE
A C CIDENT AND HEAL7H
PO L I C Y DI VIDEND ACCUM.
(f» N O NL IF E INSURANCE CLAIMS
(E)
3 *6
1. 2
.7
.3
1.4
15.2
-5.0
8.5
1.9
7.0
2.4
16.7
8.4
9.1
-2.9
-4.2
5.4
11
12
>3
14
15
16
17.2
4.0
-.3
••1
*7
•5
1.0
2.5
• .6
1.2
-1.1
•5
9.9
3.8
14.9
.5
-5.3
-1 .3
21.9
7.3
-.7
1.7
•
•
-1.0
.2
1.6
8. 3
8.8
•
2.5
-1.2
-1.4
14.1
.8
.8
1.0
-.1
7.2
-. 8
•
.2
2.2
.3
-1.2
2.9
.3
6.6
-3.9
•
1.5
.2
.3
— *6
.2
•
-.9
4.5
•6
8.5
-.2
m
1.6
1.0
-.2
17
18
19
to
.4
.2
.5
.4
.6
.1
.5
.4
.8
.1
.9
-.2
1.8
.4
.7
•
1.0
•
.7
-.7
1.7
.2
l.fr
-.4
.8
.3
.8
1.2
-.3
.1
1.1
-.9
1.7
.5
.9
.7
1.2
.4
.7
.4
1.9
.4
.7
-.5
2.5
.4
.5
-.7
tl
•2
(3
14
15
5.6
3.8
.3
.4
1.1
4.9
2.1
1.0
1.3
.5
-.1
.1
.6
-1.1
.3
2.2
.6
- 1 .3
2.7
.3
-.3
-4.2
4.0
-.5
.4
-4.9
-2.3
.5
-3.4
.3
2.0
3.9
-1.1
-1.2
.3
2.7
3.1
-1.1
.5
.3
♦.5
-1.1
-1.1
6.4
.3
5.5
2.5
-1.6
4.4
.3
-2.5
-1.5
-2.3
1.0
.2
1.3
2.5
-.3
-1.2
.2
16
27
28
19
5.4
•
5.4
•
-8.0
-4.1
-4.1
-.2
2.9
.9
2.6
.5
.2
-1.4
1.9
.3
9.4
9.8
.4
-3.3
-7.2
4.2
.3
8.7
1.5
7.2
•'
-3.1
-.6
-1.1
1.4
3.1
2.6
-.2
-.7
.3
-5.7
5.8
-.2
-4.9
-5.8
1.2
.3
2.2
3.4
.7
1.9
90
91
92
S3
94
95
96
97
2.0
-.7
.1
«
6.0
.3
1.0
1.1
.3
.4
7.9
-3.4
.9
.8
.8
.4
.8
.1
-7.7
-4.1
.8
1.0
.6
.4
-.6
.1
5.2
-4.8
1.7
.5
.9
.4
.3
.1
-.1
.9
-1.2
.5
.2
.4
-.3
.2
.8
3.1
.4
-.3
.1
9.5
7.9
.3
.9
-.3
.4
-.1
.2
3.6
.2
.2
5.3
1.9
-.6
1 .0
.9
.4
-.4
.2
4.9
-.9
•
1.3
-2.9
.6
.7
.6
.4
.1
.1
1.0
.5
.4
-.5
.2
3.1
.4
-2.3
1.3
.5
.4
-.9
.2
98
99
40
.8
.2
.9
1.2
1.4
.3
1.3
.4
•
1.1
•8
6.7
.8
.1
-3.1
-2.7
•
4.1
2.0
-2.4
1.5
1.1
1.1
.9
-.7
-
1.4
.5
*
1.2
2.3
«
•
.5
.3
•
•
•
.2
•
.
•
-
•
•
•
-.5
•
•
5
6
7
*
9
U N A L L O C A T E D AS S E T S ANO LI ABILITIES
10
•
L I AB IL IT Y - O T HE R INSURANCE
AS S E T - CORPORATE BU SINESS
N O NF AR M NONCORP. B U
FA R M BU SINESS
HO US EH OL DS
NET TOTAL
tLIAB. - ASSETS)
T O T A L LI AB IL IT IE S
C O R P OR AT E BU SI NE SS
U.S. BOVT*
U.S. GO VT.^WITHOUT LEVELS
RE ST OF TH E WORLD
S P ON SO RE D CR .A8ENCIES
10
n
12
13
14
15
16
SV GS . * L O A N ASSNS.
MU T U A L SA VINGS BANKS
L I FE INSURANCE
M O NE TA RY AUTHORITIES
17
18
19
20
C O MM ER CI AL BANKING
CO MM ER CI AL BANKS
B A NK AFFILIATES
FGN. BA NK IN G AGENCIES
B A N K S IN U.S. POSS.
21
2?
23
24
25
F L OA TS IN COML. BANK STMN
ON INTERBANK DEPOSITS
ON i n t e r b a n k l o a n s
L F SS -O N M.S. RESERVES
26
27
2*
29
TOTAL ASSETS
REST OF THE WORLD
SP ON SO RE D CR. AGENCIES
SV GS . ^ L O A N ASSNS.
MU TU AL SA VI NG S BANKS
LIFE INSURANCE
PR I V A T E PENSION FUNDS
S.* L.GOVT. RTR.FUNDS
C O MM ER CI AL BANKS
FGN. BANKING AGENCIES
BANKS IN TERR.AND POSS.
30
31
3?
33
34
35
36
37
3ft
3Q
40
• FEBRUARY 1973
fOTAL CLAIMS
TOTAL CLAIMS
TOTAL FINANCIAL ASSETS AND LIABILITIES
(BILLIONS OF DOLLARS)
S E AS ON AL LY ADJUSTED ANNUAL OATES
SE ASONALLY ADJU ST ED ANNUAL RATES
1972
1971
1971
1970
1969
™
1972 I
II
I
II
III
" " t o t a l FUNDS RA IS ED a n d ADVANCED IN CREDIT MARKETS
ITI
(1)
1
2
3
4
5
6
7
8
9
91,7
-3.6
3.3
92.0
8.7
32.6
40,2
7,4
3,2
101.6
12.8
3.0
85*7
13.9
22.3
39.8
6# A
3.2
156.3
25.5
5.6
125.2
20.6
41.6
46.6
10.3
4.1
168,1
17.3
3.5
147.2
14.6
62.0
54.6
11.5
4.5
115.8
3.9
4.2
107.7
24.9
23.4
45.5
10.4
3.6
170.0
40.6
6.8
122.6
19.3
39.6
48.5
11.5
3.6
173.7
25.9
8.0
139.9
20.2
46.8
57.5
10.6
4.9
164.1
31.4
3.6
129.1
18.0
55.1
42.8
8.8
4.3
139,4
5,4
4,2
129,8
16,2
49.3
48,3
12.3
3.7
161,2
17.5
1,6
142.1
11,7
58,4
56,1
11,3
4,7
10
11
12
13
14
15
16
31.1
8.8
4.1
8.3
5,5
,1
4,2
13.1
8.7
1.8
l.B
2.6
.1
-1.9
9.6
3.9
•
4.3
1.3
.6
-.4
19.6
5.9
1.9
9.6
-.2
1.6
.7
-.4
-.7
-.7
4.7
-2.0
.9
-2.6
1.2
1.3
-4.4
1.1
2.7
.4
16.3
7.4
3.0
3.1
2.0
.2
21.4
7,5
2.1
8.3
2.5
.6
.3
9.7
5.1
-7,1
10,0
-2,7
3,6
.8
17,9
8,8
4,3
3,3
2,0
.4
-.8
17
122,8
114.7
166.0
187.6
115.4
171.2
190.1
185.5
149,2
179.2
IB
19
tt
(1
22
38.6
29.2
.5
1.7
7,1
4.5
7.8
.5
-1.6
-2.3
-1.0
-16.8
•6
7.5
7.7
14.4
.4
1.0
3.8
9.3
-52.1
-61.1
9.8
-5.7
.6
2.4
12.4
29.1
8.0
.9
11.4
8.8
8.1
-8.6
‘.9
12.1
3.6
-20,3
-27.5
,9
-2,1
8.4
29,3
16.0
,9
6.8
5.6
2.9
2.8
3.2
1.9
3.0
6.0
153,9
8,3
2,0
143,5
16,7
64,8
48,1
10,0
4,0
FUNDS RAISED IN CREDIT MARKETS BY —
NO NF INANCIAL SFCTORS
216.9
FEDERAL GOVERNMENT
38.1
FOREIGN
6.2
PRIVATE DOMESTIC
172.6
STATE ♦ LOCAL GOVTS,
13.8
HO US EH OL DS
74.9
C O RPORATE NONFIN. BUS.
65.8
NONFARM NONCORP. BUS.
12.4
FARM BUSINESS
5.7
FINANCIAL SECTORS
22,5
28.2
SPONSORED CR. AGENCIES
4.7
4,9
SAVINGS ANO LOAN ASSNS.
4,0
6.7
FINANCE COMPANIES
14.1
11.0
INVESTMENT COMPANIES
,4
-.3
c o m m e r c i a l BANKS
1.9
.6
1,6
1,1
BANK AFFILIATES
EQ U A L S — TOTAL FUNDS RAISED AND ADVANCED
176.3
245.0
IN CREOIT MARKETS
5.8
- 4 ,9
1,1
-.2
9.8
2.9
3.9
2.1
1.6
3.2
153.3
7.8
9.8
149,1
7.8
3.8
152,8
7.9
5,6
151.1
6.4
-6.3
MET ACQUISITIONS BY I PRIVATE DOMESTIC
42,4
NO NFINANCIAL SECTORS
17.7
HOUSEHOLDS
1,1 NONFARM NONCORP, BUSINESS
10,3 NONFIN AN CI AL CORPORATE BUS.
13.2
STATE ♦ LOCAL GOVTS.
I*
19
20
21
2?
1.5
U.S. GOVERNMENT
188.4
5.9
-2.2
FI NA NC IA L INSTITUTIONS
SPON SO RE D CREDIT AGENCIES
FEDERAL RESERVE SYSTEM
24
25
26
COMMERCIAL BANKING
COMMERCIAL BANKS
BANK a f f i l i a t e s
FGN, BA NKING AGENCIES
BANKS IN U.S. POSSESIONS
27
2*
29
30
31
24
15
26
80.0
9.0
4.2
96.4
9.9
5.0
136.5
2.8
8.8
160.5
7.0
.2
136.9
.9
14.1
129.4
-4.6
2.7
125.9
7.1
8.8
17
t8
29
SO
91
19,0
13,4
3,9
1.5
.2
31.7
32.2
-1.0
.3
.1
49.7
49.4
-.1
.2
.2
65.4
65,1
-.3
,3
.2
43.7
45.7
-.4
-1.8
.2
55.2
53.6
.8
.6
.3
43.6
43.1
-.4
.6
.3
56.2
54.9
-.5
1.5
.2
57.7
58.2
-.3
-.5
.2
49.8
52.3
-1,9
-.9
.2
6*.8
64.1
§2
S3
B4
95
47.8
3.2
9,6
1,5
49.9
4.1
11.3
1.5
75.2
9.8
29.4
2.9
87.9
10.5
36.3
2.8
78.2
12.6
32.3
2.3
76.1
11 . 8
30.0
2.6
66.4
6.5
29.6
3.0
79,5
8.5
25.9
3.4
79.9
12, 0
34.8
2,6
89.6
11,2
35.0
6
86.2
9.8
37.9
? .3
95.6
9.1
37.5
3.5
PVT. n o n b a n k f i n a n c e
MUTUAL SVGS. BANKS
SVGS. ♦ LOAN ASSOCIATIONS
CREDIT UNIONS
3?
33
34
35
96
97
98
S9
8,4
2,6
6,0
5,2
9.0
4.8
6.9
6.5
11.7
4.3
7.4
6.8
13.7
5.3
6.4
7.4
11.7
3.4
6.6
7.8
11.3
4.8
9.4
7.2
11 7
3
4.3
5.8
12,1
4.9
9.1
6.5
14,4
5.2
4.5
3.2
12.6
5.1
11.4
14.4
S.5
5,0
6,8
13.3
5.5
8.3
8.0
LIFE INSURANCE COMPANIES
OTHER INSURANCF COMPANIES
PVT. PE NS IO N FUNDS
S.* L . 6 0 V T . RTR. FUNDS
36
37
3*
39
8.9
-1.7
-1.7
4.9
-2.5
-1.0
2.9
1.3
-5.3
1.4
.8
-1.0
6.2
1.7
1.4
9.8
-3,9
-2,7
5. t
,4
-1,5
8,7
-.9
-3,2
11.9
-2.3
.8
FINANCE COMPANIES
O P EN -E MO INVESTMENT COS.
S E CURITY BROKERS ♦ DEALERS
40
4!
4?
22.3
17.2
-3,0
16.5
12.7 REST OF THE WORLD
40
41
42
7,7
3.4
.2
1.6
1.6
2.6
3.9
.3
-1.5
1.3
11.0
27.3
28 . 1
,?
.2
89.1
85.5
1,3
2.1
.2
43
TOTAL CLAIMS ANO THEIR RELATION TO TOTAL FINANCIAL ASSETS
1
122.8
114.7
166.0
187.6
115.4
171.2
190.1
185.5
149,2
179,2
176.3
245.0 TOTAL CREDIT MARKET DEBT
(FROM PR EC ED IN G TABLE)
OTHER DEBT FO R M S —
F O RE IG N EXCHANGE
-.2
TREASURY CURRENCY
,4
2
3
.3
.3
-2.5
.6
-1.7
.5
-.2
.9
-2.5
.4
-.7
.6
-3.7
.5
•
.5
-.3
,7
,2
,6
-.5
.4
4
5
6
7
8
7.2
-.8
8.6
-9,3
7,9
66.7
49.7
11.8
38.0
17.0
100.6
59.8
18.4
41.4
40.8
110.8
64.7
22.3
42,3
46.2
117.8
65.8
4.9
60.9
52.0
104,7
62.3
29.4
32.8
42.4
74,4
38,9
6,5
32,4
35,4
105,4
72,0
32,7
39,3
33,5
111,1
52,7
15.0
37,6
58,4
96.2
53,7
6,0
47,6
42.5
105.7
60.7
15.4
45.3
45.0
130.1
91.4
52.7
38.7
38.7
9
20.7
24.7
26.9
27.0
27.8
28.2
23.7
27,8
18,2
33,6
26.0
30.1
INSURANCE ♦ PENSION RESERVr
8.8
13.1
1.5
-1.9
13.1
12.1
11.2
3.4
-2.5
15.0
SECURITY CREDIT
TRADE DEBT
PROFIT TAXES PAYABLE
NONCORP. PROPRIETORS* EQ.
M I SC ELLANEOUS
10
11
12
13
14
-8.4
INTERBANK CLAIMS
15
DEPOSITS AT FINANCIAL INSTS
BA NKING SYSTEM
DEMAND DEP. ♦ CURRENCY
TIME ANO SVGS.DEPOSITS
SAVINGS INSTITUTIONS
10
U
12
)3
14
-4.7
16.6
-3.1
-3.2
32.5
-.5
7.1
-2.1
-4.9
5.3
2.7
3.8
3.8
•3.2
14.3
11.4
11.6
•6
-2.3
16.4
2,9
4.5
2.9
-4.3
20.0
.5
-.9
9.2
-3.6
-7,0
.5
4.5
2.1
-2.2
34,9
6.9
7.3
1.1
-2.4
9.6
13,6
14.0
-.2
-2.0
25.9
11,0
7,9
-2.2
-2.8
11.7
15
2.7
5.3
5.0
2.9
11.9
14,0
3,6
-9.5
-4.6
28,8
-4,3
325.7
364.2
338.2
436.1
total
3 4 C ,9
434.6
TOTALS ALLOCATED TO SECTORS
AS ASSETS
16
192.0
214.2
318.7
366.3
296,6
316,0
328,3
332.3
17
18
19
-.fc
,«
-2.9
•
1.1
-.1
-.1
•8
1.0
.4
1.7
-5.5
-.8
,8
-1,8
,8
-.1
.5
.1
1.7
.9
-.3
1.3
4.3
1.8
.9
-4.4
•
1 .6
-8,1
20
(1
82
?
1
15. Z
-.1
1.’
-9.0
•
2*4
8.9
— 1
1.4
1.9
-.1
2.3
7,0
•
3.5
2.4
.1
1.3
16.7
•
2.6
8.4
-.4
1.3
9,1
-.1
1 .4
-2,9
83
179*5
216, b
306.1
366.6
289.1
309,0
307.5
315.9
317,4
372.2
.
.
2
3
4
c
6
7
P
Q
16
,,v »
’IT
-1.2
DEMAND
OEPOSITS-U.S.GOVT.
.9
18
3.1
OTHER
1.3
19
-7,1
TRADE
CREDIT
-2.2
DEDUCT. -LIABI LI TI ES NOT ALLOCATED AS ASSETS
2ft
*
TREASURY
CURRENCY
-.1
21
1.3
TAXES PAYABLE
1 .7
2?
5.4
MISCELLANEOUS
-4.2
(I)
debt
above
Includes corporate equities.
• FEBRUARY 19T3
SAVIN® BY IftOIVlDUALS
SAVING
27
AMOUNT ANO COMP OS IT IO N OF INDIVIDUALS* SAVING
(BILLIONS OF DOLLARS)
SE AS ON AL LY AD JU ST ED ANNUAL RATES
\
1972 1
BY
INDIVIDUALS
tl>
27
SE AS ON AL LY ADJUSTED ANNUAL RATES
1971
I
1
1972
1969
1970
1971
1
2
3
62.6
3*6
6.1
87.1
6.3
4 4 .5
96,3
8.6
73.5
124.3
12.6
78,9
87.9
15.1
100.9
99.0
8.6
65.1
90.6
-1.4
57.3
106.1
11.1
70.6
100.2
15.2
88.8
128.2
-3.1
78.4
120.3
11.6
80.0
4
5
6
7
8
27.3
-.4
8.1
4.3
7.6
5.6
.3
-7 .3
2.6
2.0
- 19.2
2.4
-19.3
-5.8
4.9
•
3.3
-5.8
1.1
4.2
-63.5
1.9
-40.7
-18.4
5.0
-6.2
2.7
-11.3
-4.5
4.5
3.4
2.4
-16.4
.9
7.2
-10.8
2.6
-9.0
•1.2
3.0
-29.8
3.2
-21.0
•5.6
2.6
15.7
3.4
1.9
2.4
5.7
-4.6
3.1
-17.0
5.3
3.8
18.3
3.5
12.6
2.0
4. 6
SECURI TI ES
U.S. SAVINGS BONDS
O T H E R U.S. TREASURY SEC.
U . S . * AGENCY SECURITIES
STATE ♦ LOCAL OBLIGATIONS
9
19
11
12
5.7
5.9
5.5
•9.6
12.4
— 1.8
2.6
* 5 .2
T «6
-3.9
1.3
-6.5
3.2
-2.0
-.2
-3.7
11.2
-7.7
- 2 .0
-12.9
7.0
-4.1
2*T
•3,4
9.0
.2
2.0
-2.0
3.1
•4.0
2.5
•7.8
4.1
-4 .3
-2.7
-6.1
3.3
-1.6
2.0
•1.3
3.4
-3.6
.A
•
2.0
1.4
•.3
•7.5
CORP. AND FO RE IG N BONOS
CO MM ER CI AL PAPER
INVESTMENT CO. SH AR ES
O T H E R CO RP OR AT E STOCK
4.8
5.1
13
6.6
2.9
14
3.3
3*3
15
6.3
7.3
7.1
6. 6
9.2
16
9.8
6.0
4.9
17
6.5
---- ------- --- -- -- -- --- —
6,8
3,8
5,6
10.6
5.9
6.1
3.3
8.2
10.3
7,6
6.6
3.3
7,5
I0.B
3.4
6.0
3.3
5.1
8.5
7. r
6.8
3.3
8*2
9.5
7.4
6.9
3*6
3.2
4.5
7.7
--------
6.7
3.8
7.4
15.6
3.7
II
III
IV
I
III
II
IV
147.8 TN€R, IN FINANCIAL ASSETS
CURR. ANO DEMAND DEPOSITS
26.0
68.4
SAVINGS ACCOUNTS
6.8
4.0
5.2
10.0
7,3
--------
7.0
4.0
6.7
12.4
5.0
PVT. LIFE INS. RE SERVES
PVT. INSURED REN. RESERVES
PVT, N O NI NS UR ED P E N. RES.
0OVT. IMS. ♦ REN. RESERVES
MISC. FI NA NC IA L ASSETS
1
?
4
5
6
7
*
9
10
11
I?
13
14
15
16
17
i
-
I
143.0
22.0
29.2
90.8
1.1
140.9
19.6
30.6
9 0 .5
•1
167.7
25.8
35.8
103.5
2.5
191,0
32.4
41.5
116.3
•8
159.0
22.3
33.1
99.8
3.9
164.9
2 5 .3
35.1
101.9
2.7
172.5
26.7
37.2
106.1
2.5
174.2
29.2
37.9
106.1
1.0
182.6
29.6
40.8
111.0
1.1
188.4
32.4
40.7
113.9
1.4
193.1
33.4
41 . 3
118.6
-.2
200.1 GROSS INV. IN TANGIBLE ASSETS
N O N F A R M HOMES
34 .3
43.3
n o n c o r p BU S. CO NS TR * EQUIP.
C O NS UM ER DURABLES
121.5
1.0
IN VE NT OR IE S
IB
19
20
21
2?
23
24
2S
26
104.5
8.7
21.3
74.6
112.2
9.0
22.6
80,6
121.2
9.4
24.5
87.3
131.0
10.0
26.5
94.4
117.8
9.3
23.7
84.8
119.9
9.3
24.2
86.4
122.3
9.4
24.8
88.1
124,8
9.5
25.4
90.0
127.1
9.6
25.8
91.7
131.3
u.o
26.8
93.5
131.6
9.8
26.5
95.3
133.8 C A PITAL CONSUMP. ALLOWANCES
nonfarm homes
9,9
26.9
NONCOR P. BU S. PLANT ♦ EQUIP.
CONS UM ER DURABLES
97.1
23
24
25
26
27
28
29
38
31
....
38.5
13.3
7.9
16.2
1.1
28.7
10,6
8.1
9.9
.1
46.4
16.5
11.3
16.2
2.5
60.1
22.4
15.0
21.8
.8
— '
— 1
—
41 .2
12.9
9.4
15.0
3.9
45.0
16,0
11,0
15.5
2.7
--------
50.1
17.3
12.4
18.0
2.5
49.3
19.7
12.5
16.2
1.0
55.4
20.1
15.0
19.3
I.I
— — —
57.1
21.4
13.9
20.4
1.4
61.6
23.6
14.8
23.3
-.2
66.3 NET INV. I N TANGIBLE ASSETS
N O N F A R M HOMES
24.5
N O NC OR R BU S . C O N S T R . ♦ EQUIP
16.5
24.4
C O N S UM ER DURABLES
1.0
INVENTORIES
— —
27
28
29
30
31
32
S3
34
35
36
37
38
41.6
16.2
6.9
9.3
•2.5
2.6
9.0
32.8
12.5
8.0
4.3
-1.9
2.3
7.5
59.6
24.5
11.3
10.4
2.1
1.0
10.3
86.1
35.8
13.1
19.2
7.0
1.1
9.9
40.7
13.9
10.2
4.0
1.8
.9
9.8
59.0
23.4
11.3
9.0
3.0
.9
11.4
64.2
29.1
12.2
12.6
#6
i.i
8.7
73.7
31.7
11.4
14.5
3.0
1.0
12.2
74.4
27.5
12.6
13.1
8.2
.7
12.3
99.7 INCREASE IN DEBT
MT6. OE BT ON NONFARM HOMES
41.3
13.4
NO NC OR P BUS. MTG. DEBT
CO NSUMER CREDIT
26.1
SE CU RI TY CREDIT
6.3
policy loans
1.3
11.4
OTHER DEBT
32
31
34
35
36
37
38
39
40
41
59.6
6.6
16.2
82.9
9.2
9.9
83.1
9.8
16.2
98.3
10.6
21.8
88.5
10.3
15.0
85. 1
10.8
15.5
76.5
8.5
18.0
81.7
9.5
16.2
81.2
4.5
19.3
102.9
15.6
20.4
94 .Q
10.0
23.3
39
40
41
42
43
44
45
46
2.5
•
34.2
38.2
-4.0
.9
-.2
63.1
54 .8
8.2
.8
•
56,5
60.9
-4.5
1.3
.1
64.5
54.7
9.8
.1
-.1
63.2
59.3
3.9
1.2
-.1
57.6
64.1
-6.5
1.2
•
48.8
61.0
-12.2
.6
•
55.4
59.3
-3.9
1.0
•
56.4
55.7
.7
1.*
•
65.4
50.2
15.2
1.2
•
60.4
50.6
9.f»
114.4 i n d i v i d u a l S a v i n g (l*27-32)
12.4 l e s s - g o v t . i n s * p e n r e s e r v e s
NET INV. IN CONS. OUR
24,4
CARITAL GAINS DIVIDENDS
FR OM INVEST. COS.
1.7
NET SVG. BY FA RM CORPS.
.1
75.7 EQ UA LS PERS SAVING* F/F BASIS
62.4 PE RSONAL SAVING. NIA BASIS
13.3 DI FF FR EN CE (44-45)
i
I
«
I
i
I
i
18
>9
28
21
22
—
82.4
86.9
35.5
39.1
13.1
13.5
18.0
18.7
7.0
6.4
1.0
1.3
7.6
8.2
-------- --------
(1)COMBINED STATEMFNT FOR HOUSEHOLDS* FARM. ANO NO NF AR M NO NC OR PO RA TE BUSI NE SS .
42
43
44
45
46
6 FEBRUARY 1973
■XSCRf PA NC IE S
*
DISC RE PA NC IE S
28
DISC RE PA NC IE S - SUMMARY FOR SECTORS AND TRAN SA CT IO NS
(BILLIONS OF DOLLARS)
SEAS ON AL LY AD JU ST ED ANNUAL RA TE S
SE AS O N A L L Y ADJUSTED ANNUAL RATES
1971
1969
1970
1971
28
1972
1
I
II
IV
MI
1
1
1972
I
II
IV
III
SECTOR DISCRE PA NC IE S
18*5
3.9
12.5
2# I
-2.4
•4
2.3
-8.1
6,9
3.6
-1.0
•4
7
8
9
2.G
.5
to
11
12
I
2
3
4
5
6
13
14
IS
16
17.3
6
19.8
3.4
-10.8
.7
4«
-
•
-•3
•
.9
1.0
.3
1.1
•1
1
-.5
-.6
.2
.4
-.1
-1.1
.A
.4
-1.2
•
•»
•1
•
•
.3
-.1
-9.6
10.0
3.1
-2.8
•
11.7
-3.0
12.3
4.3
-4.1
1.7
11.6
6.3
11.4
3.2
-9.1
2.9
25.8
11.6
26.7
4.8
-20.1
.8
20.2
3.4
28.6
1.1
-9.9
-2.7
13.2
-.7
10.5
2.1
2.3
-7.4
-15.2
14.7
2.1
-5.6
-.5
-.6
.5
•
.9
-3.0
•
-.2
1.9
-1.6
-2.9
.2
-.4
•
.1
-1 .3
•
-.3
1.3
.5
-.9
-1.8
.9
-.4
-2.8
-.3
1.7
-1 .3
.7
1.0
-.5
.1
1.7
-.5
.2
-.6
.1
-1.7
-.5
2.1
-2.2
-.1
.5
-.8
-1.4
-.5
.1
-3.6
-
.6
■.6
-1.8
-.4
1.0
»8
-.6
-.4
-.4
-1.9
-
.7
.
.6
-5,2
-9,8
7.0
3.5
-5.5
-.3
•
-.9 TOTAL* ALL SECTORS
H O US EH OL OS
-13*3
C O R P OR AT E BUSINESS
7.8
4.6
ST AT E ♦ LOCAL GOVTS.
F O RE IG N
-2.4
U.
S. GOVERNMENT
-.1
.5
2.5
*
1.3
FI NA NC IA L SECTORS
MO NE T A R Y AUTHORITIES
COMM ER CI AL BANKS
7
8
9
1.0
-.2
-2.4
-.3
-1.5
-.5
-.1
.7
-.8
-2.4
-.6
2.6
1.3
.1
.2
-.4
-1.1
-.2
2.8
NO NB AN K FINANCE
SPON SO RE D AGENCIES
SVGS
LO AN ASSNS,
MU TU AL SVGS BANKS,
LI FE INSURANCE
10
11
12
13
14
15
16
-5.2
-.1
-.9 TOTAL* ALL TYPES
•
T R E A SU RY CURRENCY
D E MA ND DEPOSIT MAIL FLOATS!
U. S. GOVERNMENT
-1.2
OTHER
3.1
.
•6
-.1
.
♦
other
insurance
F INANCE N.E.C.
TR AN SA CT IO N DISCRE PA NC IE S
1
2
18.5
2
•
2.3
-.1
IT .3
-.1
-.1
11.7
-.1
11.6
25.8
.1
20.2
•
13.2
-.4
-7.4
-.1
3
4
*• .4
'>
•
1.1
-.1
.8
.4
1.7
— .8
.8
-.1
.1
1.7
-.3
1.3
1.6
.9
1.6
5
*
7
-2.9
•1
15.2
5.9
-.1
I.T
-5.0
4.7
2.4
8.5
4.6
.5
3.5
2.4
4.6
.9
1.3
16.7
5.0
4.3
2.6
8.4
3.8
-4.4
1.3
9.1
4.9
8
*-
1.0
'
-5.5
1.4
1.9
.2
•8
-1.8
2.3
7*0
4.2
•
1
2
3
4
5
6
•
-8,1
1.4
-2,9
,6
.9
1.3
-2.2
1.7
-4.2
-2.5
-7.1
1.3
5.4
-2.3
TR AD E CREDIT
TAXES PAYABLE
M I S C E L LA NE OU S
NO NF IN AN CI AL
@FedFRASER