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F / F
S e a s
A d j
3 2 7 7 3
February 8, 1974
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Preliminary
Division of Research and Statistics
Board of Governors of the Federal R e serve System
Washington, D.C.
20551
TABLE LIST
SUMMARY TABLES
Income and Product Distribution
Funds Raised in Credit Markets
Private Domestic N e t Investment a n d Borrowing in
Credit Markets
Credit M a r k e t S u pply of Funds
S E C T O R TABLES
Households
Total Nonfinancial Business & Noncor p o r a t e Business
Corporate Business
Governments
Banking System
Commercial Banking Subsectors
N o n b a n k Finance Summary
Savings Institutions
Insurance and Pension Funds
Finance N.E.C.
Rest of the World
TRANSACTION TABLES
M o n e t a r y and Insurance Reserves
Interbank Claims
M o n e y and Deposits
M o n e y Stock Relationship to Other D a t a
U.S. Government Securities
Private Securities and Mortgages
M ortgages b y Type
Consumer Credit and Bank Loans N.E.C.
Other L o a n s , Including Open-Market Paper
Security Credit, Trade Credit, and Taxes
Miscel l a n e o u s Financial Claims
Total Claims--Recapitulation b y Type
Saving by Individuals
Discrepancies
Seasonally A d j u s t e d
Flow o f Funds Accounts, Fourth Q u a r t e r 1973
These tables present first estimates o f fourth
quarter flow o f funds data together w i t h revisions for the
first three quarters of 1973. Earlier da t a are unchanged from
the N o v e m b e r 7 publication.
Revisions for the first three quarters of the year
reflect the usual source information, listed in the following
paragraph, that are no t available for first preli m i n a r y e s t i
mates.
In addition, they include revisions in m o n e y stock
data published in the Fe b r u a r y Federal R e serve B u l l e t i n .
Fourth-quarter figures are based on early indicators
and are therefore h i g h l y tentative, p a rticularly in the d i s t r i
b u t i o n o f financial asset holdings among p r ivate nonfinancial
sectors.
The m o s t important information no t y e t available in
these tables are S.E.C. data on ne t n e w security issues and
c u r rent assets and liabilities of corporations.
The lack of
these data weakens the figures for total credit flows, h o u s e
ho l d investment in securities, and distribution o f liquid
assets as b e t w e e n households and business. A l s o m i ssing at
the time the accounts w e r e put together w e r e b a l a n c e of
paym ents statistics, final income-and-product data, end-ofquarter balance sheets for insurance companies, mutual savings
banks, pension funds, and investment companies, and the
T r e a s u r y survey o f ownership of Federal securities.
Requests for unadjusted and for hist o r i c a l annual
tables o r to b e put on the m a i l i n g list should b e addressed
to the F l o w of Funds and Savings Section, R o o m 3222, Division
of R e s earch and Statistics, Board of Governors o f the Federal
R e s e r v e System, Washington, D . C . , 20551.
* * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * *
MAILING
LIST C H E C K - U P
NOTICE C O M I N G
SOON
* * * * * * * * * * * * * * * * * * * $ * * * * * # * * * * * * * * * * * * * * * * * * * * * * *
! n c ” e U 1S5 J r J J u CT DISTRIBUTION
>N C W E *ND l>R°°U<:T DISTRIBUTION
1
IMCOME AND PRODUCT accounts: GNP EXPENDITURES AND GROSS SAVING
(RILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL OATES
_____ S EASONALLY ADJUSTED ANNUAL_«ATES
1968
1969
1970
1971
1972
1973
1
1972
1 III
1973
1
1
IV
I
IT
III
IV
1
864.2
930.3
977.1
1055.5
1155.2
1288.2
1166.5
1199.2
1242.5
1272.0
1304.5
1334.0 TOTAL GNP
1
2
3
4
5
6
735.7
536.2
84.0
100.8
98.8
789.4
579.5
90 .8
111.2
98.8
837.2
617.6
91.3
123.3
96.2
901.4
667.2
103.5
136.2
98.1
981.5
726.5
117.4
150.5
104.4
1082.2
805.0
131.1
170.3
106.9
988.7
734.1
120.2
152.4
102.3
1013.3
752.6
122.9
158.0
102.7
1048.0
779.4
132.2
163.0
105.5
1071.0
795.6
132.8
168.0
107.3
1095.0
816.0
132.A
172.?
106.8
1114.8 IC URRENT OUTLAYS
HOUSEHOLDS
829.0
OF WHICH CONSUMER DURABLES
126.7
STATE ♦ LOCAL GOVERNMENT
178.0
U. S. GOVERNMENT
107.8
2
3
4
5
6
7
126.0
139.0
136.3
153.2
178.3
201.5
181.5
189.4
194.5
198.2
202.0
211.2 'GROSS DOMESTIC INVESTMENT
0
Q
10
11
12
118.9
3ft . 1
22.2
21.1
.5
131.1
32.6
22.1
22.0
.6
131 .7
31.2
20.5
10.6
.5
147.1
42.7
29.8
26.8
.6
172.3
54.0
36.4
34.3
.6
194.0
58.0
40.3
40.1
.6
172.9
54.5
36.2
35.2
.6
181.2
56.9
38.2
35.4
.5
189.9
59.0
41.1
38.1
.6
193.7
59.6
42.0
40.8
.5
197.3
59.2
40.7
41.3
•6
195.3
54.2
37.2
40.1
.7
13
14
15
.5
•3
.3
-.5
-.3
-.3
.4
.2
.2
2.4
1 .2
1 .2
1 .5
.8
.8
-.4
-.2
-.2
.4
.2
.2
2.3
1.2
1.2
2.4
1.2
1.2
.7
.4
.3
- 1.2
-.6
-.6
-3.5
- 1.8
- 1.8
16
17
18
19
7*9
5.9
1 .8
.1
10.6
7.3
3.2
.1
10.7
7.5
3.1
.1
12.9
9.1
3.7
.1
17.6
12.3
4.9
.4
17.8
12.5
5.1
.2
18.3
12.8
5.1
.3
18.7
13.0
5.3
.4
17.9
12.5
5.0
.4
17.6
12.4
4.8
.4
18.5
13.0
5.4
.1
17.0
11.9
5.0
»
20
21
22
23
24
25
88.8
4.5
5.7
9*8
2.3
66.5
98.5
5.1
5.9
10.6
2.9
74.0
100.6
5.3
6.3
10.6
3.3
75.1
104.4
5.6
6.5
11.5
4.1
76.8
118.2
6.1
7.6
12.2
4.2
88.2
136.0
6.3
9.5
12.9
4.3
103.0
118.3
5.9
8.1
12.2
4.3
87.9
124.3
6.3
8.8
12.4
4.4
92.3
130.9
6.2
8.7
13.0
4.7
98.3
134.1
6.4
9.5
13.0
4.6
100.6
138.0
6.3
9.6
12.9
4.1
105.2
141.1
6.3
10.1
12.8
3.8
108.1
26
27
28
29
30
7.1
.1
6.9
.5
6.4
7.8
.1
7.7
1.0
6.7
4.5
.2
4.3
-1.4
5.7
6.1
1.6
4.5
-.5
5.0
6.0
.4
5.6
- 1.2
6.8
7.4
.7
6.7
1.0
5.8
8.7
.3
8.4
-1.7
10.1
8.2
.3
7.9
-.8
8.7
4.6
.2
4.4
1.5
2.9
4.5
.1
4.4
.5
3.9
4.7
1.5
3.2
-.2
3.4
15.9
1.0
14.9
2.0
12.9
31
32
33
2.5
50.6
48.1
’.9
f 5.5
53.6
3.6
62.9
59.3
.8
66.3
65.5
-4.6
73.5
78.1
4.6
101.2
96.7
-3.8
74.0
77.7
-3.5
79.7
83.2
«
89.7
89.7
2.8
97.2
94.4
7.6
104.5
97.0
8.0 NET EXPORTS
EXPORTS
113.5
IMPORTS
105.6
31
32
33
34
35
36
591 .0
39.8
6.7
634.4
38.2
6.0
691.7
56.2
8.1
746.0
60.2
8.1
797.0
49.7
6.2
882.6
53.9
6.1
800.9
45.8
5.7
828.7
54.4
6.6
851.5
50.0
5.9
869.7
51 .0
5.9
891.1
51.1
5.7
918.0 d i s p o s a b l e p e r s o n a l i n c o m e
63.3 p e r s o n a l s a v i n g
6.9
SAVING RATE (PER CENT)
34
35
36
37
38
-6.5
-.3
8.1
.7
-11.9
1.8
- 22.2
4.0
-15.9
13.1
.7
11.1
-7.5
9.4
-23.4
19.6
-5.0
13.9
.1
11.7
4.0
10.4
3.6 FEDERAL GOVERNMENT SURPLUS
8.4 S. ♦ L. GOVERNMENT SURPLUS
37
38
39
40
41
42
43
87.6
.1
4.0
11.3
72.2
84.9
.1
4.5
12.4
67.9
74.0
•
4.7
13.6
55.7
85.1
.1
5.8
15.2
64.0
98.0
.1
6.2
17.5
74.2
126.6
.1
7.8
21.7
97.0
98.4
.1
6.2
17.6
74.5
106.1
.1
7.6
18.6
79.9
119.6
.1
7.7
19.8
92.0
128.9
.1
7.7
21.4
99.8
129.0
.1
7.8
22.3
98.8
CORPORATE PROFITS. TAXES ♦ DIVIDENDS*
PROFITS - TOTAL
128.6
FARMS
.1
FOREIGN
7.8
FINANCIAL CORPORATIONS
23.4
CORPORATE BUSINESS
97.3
39
40
41
42
43
44
45
46
47
39.9
.1
5.8
34.0
40.1
.1
6.4
33.6
34.8
.1
7.2
27.5
37.4
.1
7.8
29.6
42.7
.1
7.7
34.9
56.3
.1
9.4
46.7
42.9
.1
7.8
35.0
45.9
.1
8.3
37.5
52.7
.1
8.4
44.2
57.4
.1
9.2
46.1
57.6
.1
9.8
47.6
57.4
.1
10.3
47.0
TAX ACCRUALS - TOTAL
FARMS
FINANCIAL CORPORATIONS
CORPORATE BUSINESS
44
45
46
47
48
49
50
51
52
23.6
.1
1.5
1.2
20.8
24.3
.1
2.0
1.6
20.7
24.7
2.4
2.3
20.0
25.1
«
2.9
2.0
20.2
26.0
*
2.8
2.1
21.1
27.8
«
3.2
2.2
22.3
26.2
#
2.7
2.1
21.3
26.4
*
3.3
2.1
20.9
26.9
»
3.4
2.2
21.4
27.3
«
3.2
2.2
21.9
28.1
»
3.3
2.1
22.5
29.0
•
3.1
2.3
23.5
DIVIDENDS - TOTAL
FARMS
NET FOREIGN
FINANCIAL CORPORATIONS
CORPORATE BUSINESS
48
49
50
51
52
53
54
55
56
57
58
59
60
24.2
*
2.5
4.3
17.5
-3.3
2.5
16.6
20.5
•
2.5
4.5
13.6
-5.1
2.5
10.9
14.6
-.1
2.3
4.1
8.3
-4.8
2.3
5.8
22.5
«
2.9
5.4
14.2
-4.9
2.9
12.2
29.3
•
3.5
7.8
18.1
-6.9
3.5
14.6
42.5
-.1
4.5
10.1
27.9
-17.3
4.5
15.2
29.4
«
3.5
7.8
18.1
-6.9
3.5
14.7
33.9
-.1
4.2
8.4
21.3
-7.3
4.2
18.2
40.0
-.1
4.3
9.3
26.5
-15.4
4.3
15.4
44.2
-.1
4.4
10.0
29.9
-21.1
4.4
13.2
43.4
-.1
4.6
10.2
28.7
-17.0
4.6
16.3
42.2
-.1
4.7
10.8
26.8
-15.6
4.7
15.9
UNDIST. PROFITS - TOTAL
FARMS
FOREIGN BRANCH PROFITS
FINANCIAL CORPORATIONS
CORPORATE BUSINESS
♦ INVENTORY VAL. ADJ.
♦ BRANCH PROFITS
a NONFIN. CORPS.# NET
53
54
55
56
57
58
59
60
61
6?
63
64
65
66
67
68
69
74.5
8.3
1.5
6.0
11.9
46.8
1.5
.3
45.1
81.6
S.7
1.6
6.2
13.1
51.9
1.8
.3
49.8
87.3
9.0
1.7
6.0
14.6
56.0
2.0
.4
53.6
93.8
9.4
1.8
6.5
15.8
60.4
2.3
.4
57.7
102.4
10.2
1.9
7.0
17.3
65.9
2.7
.4
62.8
109.6
10.4
2.1
7.7
18.5
71.0
3.0
.4
67.6
102.3
10.0
1.9
7.0
17.4
66.0
2.7
.4
62.9
105.1
10.1
2.0
7.1
17.9
68.0
2.8
.4
64.8
106.9
10.2
2.0
7.5
17.9
69.3
2.9
.4
65.9
109.0
10.4
2.0
7.7
18.4
70.5
3.0
.4
67.1
110.5
1 0 .«;
2.1
7.7
18.4
71.9
3.1
.4
68.4
70
71
67.4
141.9
74.6
156.1
80.7
168.0
87.5
181.3
93.8
196.1
103.0
212.6
94.4
196.7
97.0
202.0
99.4
206.3
101.7
210.7
104.2
214.7
61
112.1 TOTAL CAPITAL CONSUMPTION
OWNER-OC C U P I E D HOMES (HH)
62
10.6
NONPROFIT INSTITUTIONS (HH) 63
2.1
64
FARM NONCORPORATE
7.8
NONFARM NONCORP. BUSINESS
65
19.1
66
TOTAL CORPORATE
72.5
67
FINANCIAL BUSINESS
3.2
68
CORPORATE FARMS
.4
69
68.9
CORPORATE BUSINESS
MEMO: CAP. CONS. ON CONSUME**
DURABLES NOT INCLUDED ABOVE 70
106.5
218.6 TOT. CAP. CONS. INCL. DURABLESi 71
72
-2.7
-6.1
-6.4
-3.0
- 1.8
2.1
1.4
.2
1.1
2.8
3.6
73
74
45.5
14.2
47.2
15.5
47.0
14.4
44.0
13.6
43.5
15.1
44.5
14.8
43.5
15.1
43.2
15.1
44.1
14.6
44.5
14.7
44.6
14.9
IV/73 FIGURES ARE T E N T a TJVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
PRIVATE FIXED INVESTMENT
RESIDENTIAL CONSTRUCTION
1-4 FAMILY STRUCTURES
HO U SEHOLD PURCHASES
FARM
CHANGE i n w o r k i n
PROCESS ON NONFARM
NONCORPORATE
CORPORATE
7
8
9
10
11
12
13
14
15
NONCORPORATE BUSINESS
CORPORATE BUSINESS
REITS
16
17
18
19
NONRES. PLANT ♦ EQUIPMENT
NONPROFIT INST. (HH)
FARM
NONFARM NONCORP. BUS,
FINANCIAL CORPORATIONS
CORPORATE BUSINESS
20
21
22
23
24
25
m u l t i -f a m i l y
units
INVENTORIES
FARM
NONFARM
NONCORPORATE
CORPORATE
.8 s t a t i s t i c a l d i s c r e p a n c y
44.6 PROFIT TAX RATE («)
14.9 p e r s o n a l TAX RATE (»)
26
27
28
29
30
72
73
74
8 FEBRUARY 1974
CREDIT MARKET SUMMARY
credit
MARKET SUMMARY
TOTAL FUNDS RAISED IN CREDIT MARKETS BY NONFINANCIAL SECTORS
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1968
1969
1970
1971
SEASONALLY ADJUSTED ANNUAL RATES
1972
1973
I
1972
I III
IV
I
I
1973
I
II
III
IV
170.1
161.9
X# FUNDS RAISED. BY TYPE AND SECTOR
BY NONFINANCIAL SECTORS
EXCLUDING EQUITIES
1
2
1
2
94.6
95.9
91.4
88.0
97.5
92.6
146.7
135.0
166.1
156.1
184.2
178.6
161.6
151.7
213.0
203.8
219.2
215.3
175.6
169.6
171.8
167.8
3
4
5
13.4
10.3
3.1
-3.6
-1.3
-2.4
12.8
12.9
-.1
25.5
26.0
-.5
17.3
13.9
3.4
9.7
8.3
1.5
10.9
6.4
4.6
33.4
28.1
5.3
32.7
30.1
2.6
1.2
1.4
-.2
-9.7
-12.3
2.6
6
7
8
81.2
-1.4
82.6
95.0
3.4
91.6
84.7
4.9
79.8
121.2
U.7
109.5
148.8
10.0
138.8
174.5
5.5
168.9
150.7
9.9
140.8
179.6
9.2
170.4
186.5
4.0
182.6
174.4
6.0
168.4
181.5
3.9
177.5
9
10
11
12
13
14
15
16
50.6
9.5
14.0
27.1
15.1
3.4
6.4
2.2
50.6
9.9
13.0
27.7
15.7
4.7
5.3
1.9
57.7
11.3
20.6
25.7
12.8
5.8
5.3
1.8
83.2
16.6
19.7
46.8
26.0
8.8
10.0
2.0
92.4
11.9
13.2
67.3
39.7
10.3
14.8
2.6
93.8
8.9
12.7
72.2
39.0
13.0
15.9
4.2
96.8
13.4
11.9
71.6
43.1
10.3
15.6
2.6
98.3
10.4
12.1
75.8
44.4
12.6
16.5
2.4
83.1
6.1
8.7
68.3
37.9
12.6
13.8
4.0
100.3
6.5
12.5
81.4
44.9
15.6
16.4
4.6
105.8
12.3
13.5
80.0
42.5
14.3
18.4
4.7
85.8
10.7
16.1
59.0
30.9
9.5
15.1
3.5
DEBT CAPITAL INSTRUMENTS
S. ♦ L. GOVERNMENT SECS.
CORPORATE ♦ FOREIGN BONDS
MORTGAGES
HOME MORTGAGES
OTHER RESIDENTIAL
COMMERCIAL
FARM
9
10
11
12
13
14
15
16
17
18
19
20
21
32.0
13.1
10.0
1.6
7.2
41.0
15.3
10.4
3.3
12.0
22.1
6.4
6.0
3.8
5.9
26.3
9.3
11.2
-.9
6.6
46.4
21.8
19.2
- 1.6
7.0
75.2
41.3
22.9
2.5
8.5
44.0
21.2
18.9
-4.6
8.4
72.1
37.5
26.2
- 1.1
9.6
99.5
75.1
25.7
- 10.8
9.6
68.0
33.9
24.7
4.0
5.4
71.7
36.4
22.5
4.0
8.9
61.4
19.8
16.8
12.8
10.0
OTHER PRIVATE CREDIT
BANK LOANS N.E.C.
CONSUMER CREDIT
o p e n -m a r k e t p a p e r
17
18
19
20
21
22
23
24
25
26
27
28
29
30
81.2
82.6
2.9
9.8
29.6
40.2
2.8
5.6
31.8
95.0
91.6
2.9
10.7
32.2
45.9
3.2
7.4
35.4
84.7
79.8
3.0
11.4
22.9
42.5
3.2
5.3
33.9
121.2
109.5
5.7
17.0
38.3
48.5
4.1
8.7
35.7
148.8
138.8
3.8
12.3
63.3
59.4
4.9
10.4
44.1
174.5
168.9
6.9
8.8
70.9
82.3
7.6
12.6
62.1
150.7
140.8
2.4
13.9
67.2
57.2
4.2
10.5
42.5
179.6
170.4
6.1
11.4
73.7
79.2
6.5
12.8
59.9
186.5
182.6
15.0
6.4
71.7
89.5
7.0
14.2
68.3
174.4
168.4
7.3
6.3
73.1
81.7
7.7
13.3
60.7
181.5
177.5
.7
12.1
77.0
87.8
8.2
13.6
66.0
31
32
33
-1.4
.2
-1.5
3.4
.5
2.9
4.9
.1
4.8
11.7
•
U.7
10.0
-.4
10.4
5.5
-.1
5.7
9.9
-.3
10.2
9.2
-.8
10.0
4.0
-.7
4.6
6.0
-.2
6.2
3.9
•
4.0
8.2
.2
8.0
34
35
36
3.1
38.7
30.3
3.3
48.8
38.3
3.0
47.3
38.8
5.7
60.2
47.4
3.4
69.8
54.5
6.7
88.0
67.7
2.1
67.4
52.8
5.2
89.2
69.9
14.3
94.2
73.0
7.1
87.9
66.9
.7
91.7
70.0
4.8
78.1
61.1
37
- 1.1
.4
2.8
3.2
.5
- 1.6
- 1.0
9.1
16.4
38
39
95.7
14.5
91.0
-4.0
94.7
10.0
143.5
22.3
165.6
16.8
185.7
11.3
162.6
11.9
203.9
24.4
202.8
16.3
14.7 U.S. GOVERNMENT
PUBLIC DEBT SECURITIES
13.8
BUDGET AGENCY ISSUES
.9
155.4 a l l o t h e r NONFINANCIAL s e c t o r s
CORPORATE EQUITIES
8.2
147.2
DEBT INSTRUMENTS
other
3
4
5
6
7
8
155.4 BY BORROWING SECTOR!
147.2
DEBT INSTRUMENTS
FOREIGN
4.5
STATE ♦ LOCAL GOVERNMENTS
10.7
HOUSEHOLDS
61.8
NONFINANCIAL BUSINESS
70.1
FARM
7.5
NONFARM NONCORPORATE
9.4
CORPORATE
53.2
22
23
24
25
26
27
28
29
30
CORPORATE EQUITIES
FOREIGN
CORPORATE BUSINESS
31
32
33
TOTALS INCLUDING EQUITIES
FOREIGN
NONFINANCIAL BUSINESS
CORPORATE
-22.1
8.6 MEMO! U.S. gOVT. CASH BALANCE
-9.2
TOTALS NET OF CHANGES IN U.S. GOVT. CASH BALANCES—
193.9
161.5 TOTAL FUNDS RAISED
184.8
12.4
6.1
BY U.S. GOVERNMENT
10.4
34
35
36
37
38
39
PRIVATE DOMESTIC NET INVESTMENT AND BORROWING IN CREDIT MARKETS
1
2
3
207.6
140.4
67.2
226.7
154.3
72.4
224.2
166.0
58.2
252.5
179.0
73.5
291.1
193.4
97.7
328.0
209.5
118.5
297.1
194.0
103.1
307.5
199.2
108.3
321.6
203.4
118.2
325.9
207.7
118.2
330.6
211.6
118.9
334.1
215.4
118.6
4
5
68.3
- 1.1
81.0
-8.6
70.2
- 12.0
98.5
-25.0
133.1
-35.4
158.9
-40.4
134.7
-31.6
162.9
-54.7
165.9
-47.6
161.0
-42.8
168.7
-49.8
139.9
-21.3
6
7
8
97.9
63.2
34.7
108.9
69.5
39.4
108.0
74.6
33.5
116.6
80.3
36.3
133.3
87.6
45.8
150.6
94.1
56.4
135.8
87.7
48.1
142.9
90.1
52.7
145.1
91.7
53.3
146.0
93.6
52.5
150.1
94.9
55.2
161.0
96.2
64.7
9
10
11
40.2
-1.5
-4.0
45.9
2.9
-9.4
42.5
4.8
-13.8
48.5
U.7
-23.9
59.4
10.4
-24.0
82.3
5.7
-31.5
57.2
10.2
-19.3
79.2
10.0
-36.4
89.5
4.6
-40.8
81.7
6.2
-35.4
87.8
4.0
-36.5
70.1
8.0
-13.4
12
13
14
75.0
45.1
29.9
83.7
49.8
33.9
84.0
53.6
30.4
86.7
57.7
29.1
100.7
62.8
37.8
113.7
67.6
46.1
103.3
62.9
40.4
107.4
64.8
42.7
107.4
65.9
41.5
109.7
67.1
42.6
113.3
68.4
44.9
124.2
68.9
55.3
15
16
17
31.8
-1.5
-.4
35.4
2.9
-4.4
33.9
4.8
-8.4
35.7
U.7
-18.3
44.1
10.4
-16.7
62.1
5.7
-21.7
42.5
10.2
-12.4
59.9
10.0
-27.2
68.3
4.6
-31.5
60.7
6.2
-24.3
66.0
4.0
-25.0
53.2
8.0
-5.8
18
19
20
109.7
77.2
32.5
117.8
84.8
33.0
116.2
91.4
24.7
135.9
98.7
37.2
157.8
105.9
51.9
177.5
115.4
62.1
161.3
106.3
55.0
164.6
109.1
55.5
176.5
111.6
64.9
179.9
114.1
65.8
180.4
116.7
63.7
173.1
119.2
53.9
21
22
29.6
2.9
32.2
.8
22.9
1.8
38.3
- 1.1
63.3
-11.4
70.9
-8.9
67.2
- 12.2
73.7
-18.2
71.7
-6.8
73.1
-7.4
77.0
-13.3
61.8
-7.9
23
24
25
26
- 1.8
6.7
1.9
3.9
-2.8
5.9
2.2
4.5
-1.9
4.5
2.2
3.1
-6.7
4.8
2.6
1.7
-14.3
4.5
2.7
4.3
-9.7
5.2
2.8
7.2
-15.6
6.9
2.5
6.0
-18.2
-.2
2.9
2.7
-10.4
7.1
2.8
6.3
- 12.6
6.3
2.9
4.0
-9.9
6.1
2.9
12.4
-5.9
1.4
2.8
6.2
TOTAL* HOUSEHOLDS ♦ BUSINESS
TOTAL CAPITAL OUTLAYS (1)
CAPITAL CONSUMPTION <2)
NET PHYSICAL INVESTMENT
NET FUNDS RAISED
EXCESS NET INVESTMENT (3)
TOTAL BUSINESS
TOTAL rAPlTAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYSICAL INVESTMENT
NET DEBT FUNDS RAISED
CORPORATE EQUITY ISSUES
EXCESS NET INVESTMENT <3>
CORPORATE BUSINESS
TOTAL CAPITAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYSICAL INVESTMENT
NET DEBT FUNDS RAISED
c o r p o r a t e EQUITY ISSUES
EXCESS NET INVESTMENT (3)
HOUSEHOLDS
TOTAL CAPITAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYSICAL INVESTMENT
NET FUNDS RAISED
EXCESS NET INVESTMENT (3)
OF WHICH*
HOUSES LESS HOME MORTGAGES
durables less c o n s , credit
NONPROFIT P*E LESS MORTGAGES
LESS! UNALLOCATED DEBT
(1) CAPITAL OUTLAYS ARE TOTALS FOR RESIDENTIAL AND NONRESIDENTIAL
FIXED CAPITAL* NET CHANGE IN INVENTORIES. AND CONSUMER DURABLES.
EXCEPT OUTLAYS BY FINANCIAL BUSINESS.
(2) CAPITAL CONSUMPTION INCLUDES AMOUNTS FOR CONSUMER DURABLES
AND EXCLUDES FINANCIAL BUSINESS CAPITAL CONSUMPTION.
(3) EXCESS OF NET INVESTMENT OVER NET FUNDS RAISED.
IV/73 FIGURES AWE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
CREDIT MARKET SUPPLY OF FUNDS
3
8 FEBRUARY 1974
CREDIT MARKET SUPPLY OF FUNDS
3
DIRECT AND INDIRECT SOURCES OF FUNDS TO CREDIT MARKETS
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
|
1972
I III
IV
1973
I
I
II
I
III
1968
1969
1970
1971
1972
1973
95.9
88.0
92.6
135.0
156.1
178.6
151.7
203.8
215.3
169.6
16.2
3.0
4.1
3.1
6.0
66.9
48.0
4.5
4.1
10.4
18.1
-5.2
5.4
11.4
6.5
25 rl
-10.0
13.4
11.9
9.8
TOTAL FUNDS ADVANCED IN CREDIT MARKETS
167.8
161.9
TO NONFINANCIAL SECTORS
BY PUBLIC AGENCIES ♦ FOREIGN
12.2
3.4
2.8
.9
5.1
15.8
.9
4.6
28.0
15.7
5.7
1.3
5.2
41.3
33.4
5.7
-2.7
4.9
16.9
7.3
5.2
•
4.3
32.7
10.4
7.5
7.2
7.6
12.0
.9
4.5
1.9
4.7
7
8
9
10
4.9
3.2
3.7
.3
2.9
9.0
4.2
-.3
2.8
9.9
5.0
10.3
3.2
2.8
8.8
26.4
2.3
6.0
.2
8.4
1.7
20.0
9.3
1.6
4.2
2.8
-7.9
12.8
2.0
6.1
-.4
8.5
1.9
13.0
20.5
31.5
-1.3
24.5
3.5
-8.6
4.8
30.0
1.4
-11.1
11
3.5
8.8
8.2
4.3
6.2
19.1
4.6
5.3
11.4
23.7
28.5
20.6 TOTAL NET ADVANCES
8.8
U.S. GOVERNMENT SECURITIES
6.9
RESIDENTIAL MORTGAGES
1.3
FHLB ADVANCES TO S*L»S
3.6
OTHER LOANS ♦ SECURITIES
BY AGENCYi
1.5
U.S. GOVERNMENT
12.8
SPONSORED CREDIT AGENCIES
12.0
MONETARY a u t h o r i t i e s
-5.5
FOREIGN
AGENCY BORROWING NOT INCLUDED
12.9
IN LINE 1
private
80.9
4.6
9.9
12.5
15.7
42.2
4.0
87.2
13.3
9.5
13.8
15.5
35.9
.9
12
13
14
15
16
17
18
72.8
5.4
11.3
20.0
12.8
24.6
1.3
98.0
-3.5
16.6
19.5
29.1
33.7
-2.7
145.4
16.3
11.9
13.2
44.6
59.5
165.1
18.5
8.9
12.7
44.4
87.7
7.2
144.3
14.7
13.4
12.4
48.8
56.8
1.9
175.3
30.3
6.5
12.1
55.0
82.9
11.4
159.8
-3.7
6*1
8.5
46.0
107.1
4.1
193.0
35.8
10.4
11.8
52.8
85.2
3.1
171.2
28.8
12.3
12.9
43.4
85.7
11.9
domestic
funds
154.1 TOTAL n e t ADVANCES
18.8
U.S. GOVERNMENT SECURITIES
10.7
STATE ♦ LOCAL OBLIGATIONS
17.6
CORPORATE ♦ FOREIGN BONDS
33.3
RESIDENTIAL MORTGAGES
74.9
OTHER MORTGAGES ♦ LOANS
1.3
LESSt FHLB ADVANCES
private
11
advanced
12
13
14
15
16
17
18
FINANCIAL i n t e r m e d i a t i o n
CREDIT MARKET FUNDS ADVANCED
BY PRIVATE FINANCIAL INSTS.
COMMERCIAL BANKING
SAVINGS INSTITUTIONS
INSURANCE ♦ PENSION FUNDS
OTHER FINANCE
19
20
21
22
23
19
20
21
22
23
75.3
38.7
15.6
14.0
7.0
54.9
18.2
14.5
12.3
9.9
74.9
35.1
16.9
17.3
5.7
111.4
50.6
41.5
14.1
5.3
150.2
69.7
48.7
16.0
15.8
159.1
85.2
35.2
24.3
14.3
163.6
76.1
50.6
19.5
17.4
176.7
88.7
47.1
16.2
24.6
203.2
114.0
56.5
22.0
10.7
169.3
88.6
41.6
21.4
17.6
145.2
79.8
22.9
23.3
19.2
118.8
58.5
19.8
30.6
9.9
24
25
26
75.3
45.9
8.5
54.9
2.6
19.1
74.9
63.2
-.4
111.4
90.8
9.2
150.2
97.8
20.2
159.1
86.8
28.8
163.6
102.4
23.9
176.7
93.5
24.2
203.2
123.2
38.8
169.3
86.3
30.1
145.2
67.6
39.0
118.8 SOURCES OF FUNDS
70.1
PRIVATp DOMESTIC DEPOSITS
7.4
CREDIT MARKET BORROWINS
27
28
29
30
31
21.0
2.6
-.2
11.4
7.2
33.3
9.3
»
10.4
13.5
12.1
-8.5
2.9
13.1
4.5
U.3
-3.2
2.2
9.6
2.7
32.2
5.1
.7
11.3
15.1
43.5
5.1
-1.0
19.0
20.5
37.4
7.6
1.0
16.4
12.3
59.0
1.7
9.1
11.9
36.3
41.2
1.9
8.6
16.1
14.7
52.9
8.6
-11.4
17.3
38.4
38.5
4.6
-9.2
20.0
23.1
42.6 DIRECT LENDING IN CR. MARKETS
16.1
U.S. GOVERNMENT SECURITIES
-1.8
STATE ♦ LOCAL OBLIGATIONS
4.8
CORPORATE ♦ FOREIGN BONDS
14.4
COMMERCIAL PAPER
9.2
OTHER
32
33
34
35
36
37
74.0 DEPOSITS ♦ CURRENCY
47.2
TIME ♦ SAVINGS ACCOUNTS
-13.8
LARGE NEGOTIABLE CDtS
30.3
OTHER AT COMMERCIAL BANKS
AT SAVINGS INSTITUTIONS
30.7
38
39
40
41
42
41.3
5.1
7.9
22.6
5.7
OTHER SOURCES
FOREIGN FUNOS
TREASURY BALANCES
INSURANCE ♦ PENSION RES.
OTHER# NET
24
25
26
27
28
29
30
31
PRIVATE DOMESTIC NONFINANCIAL INVESTORS
32
33
34
35
36
37
20.3
8.0
-.2
4.7
5.8
2.1
45.0
16.8
8.7
7.4
10.2
2.0
-2.4
-8.3
-1.1
10.1
-4.4
1.4
-4.2
— 13 e 0
-.1
8.2
-.6
1.3
15.4
4.1
2.1
4.9
3.7
.6
34.8
19.6
1.2
.8
8.7
4.4
4.6
2.7
2.6
3.9
-6.4
1.8
40.4
20.2
4.2
6§5
8.0
1.6
-4.7
-.9
2.4
-.9
-5.9
.5
36.1
26.8
-1.8
-.4
6.6
4.9
65.1
36.6
6.0
-.3
19.8
3.0
38
39
40
41
42
48.3
33.9
3.5
17.5
12.9
5.4
-2.3
-13.7
3.4
8.0
66.6
56.1
15.0
24.2
16.9
94.2
81.2
7.7
32.9
40.6
102.2
85.7
8.7
31.0
46.0
90.6
76.9
18.9
29.6
28.4
100.9
83.1
21.5
16.6
45.0
101.7
82.1
9.1
29.8
43.3
124.7
120.7
39.4
36.9
44.4
97.0
77.4
15.1
31.0
31.3
66.8
62.2
34.8
20.0
7.4
14.5
12.1
2.4
7.7
10.5
7.1
3.5
13.0
9.6
3.4
16.5
12.1
4.4
13.7
9.9
3.8
17.8
19.3
-1.5
19.6
11.4
8.2
3.9
2.5
1.4
19.6
8.9
10.7
4.6
5.5
-.8
64.2
90.0
117.7
125.4
105.5
142.1
120.0
133.1
131.8
47
48
49
12.7
86.4
2.9
18.0
67.9
9.1
30.2
102.8
1.8
30.6
113.7
23.2
10.8
103.3
13.5
18.3
96.4
6.6
7.9
113.4
20.4
8.0
91.6
10.2
31.1
127.2
33.4 *
10.7
96.6
-6.5
15.0
84.8
26.8
22.8
3.9
43
44
45
MONEY
DEMAND DEPOSITS
CURR f NCY
TOTAL OF CREDIT MARKET INSTRU116.7
MENTS* DEPOSITS ♦ CURRENCY
46
12.8 PUBLIC SUPPORT RATE <*>
47
77.1 PVT. FINAN. INTERMEDIATION («) 48
-.4 TOTAL FOREIGN FUNDS
49
CORPORATE EQUITIES NOT INCLUDED ABOVE
1
2
3
5.1
5.8
-.7
9.5
4.8
4.7
9.5
2.6
6.9
14.7
1.2
13.5
12.0
-.6
12.6
6.3
-1.0
7.3
11.7
-.1
11.9
11.3
-.8
12.0
4.1
-2.3
6.3
7.4
-1.1
8.5
6.4
1.3
5.1
4
5
10.8
-5.8
12.2
-2.7
11.4
-1.9
19.2
-4.6
15.6
-3.6
9.7
-3.4
8.6
3.2
18.6
-7.3
10.9
-6.8
13.8
-6.4
6.2
.2
7.3
-1.9
9.1
MUTUAL FUND SHARES
OTHER EQUITIES
8.0 ACQ. BY FINANCIAL INSTITUTIONS
- •7
IV/73 FIGURES ARE TENTATIVE ESTIMATES BASED ON i n c o m p l e t e INFORMATIONI.
1.
2.
6.
11.
12.
Page 2, line 2.
Sum of lines 3-6 or 7-10.
Includes farm and commercial mortgages.
Credit market funds raised by Federally sponsored credit
agencies. Included below in lines 13 and 33. Includes
all GNMA-guaranteed security issues backed by mortgage
pools.
Line 1 less line 2 plus line 11. Also line 19 less line
26 plus line 32. Also sum of lines 27, 32, 39, and 44.
30.
31.
Excludes net investment of these reserves in corporate
equities.
Mainly.retained earnings and net miscellaneous liabilities.
32.
33-37.
Line 12 less line 19 plus line 26.
Lines 13-17 less amounts required by private finance.
37 includes mortgages.
39444.
45.
46.
See line 25.
Mainly an offset to line 9.
Lines 32 + 38 or line 12 less line 27 less line 45.
17.
Includes farm and commercial mortgages.
47.
Line 2/line 1.
25.
26.
Lines 39 + 44.
Excludes equity issues and investment company shares.
Includes line 18.
Foreign deposits at commercial banks, bank borrowings
from foreign branches, and liabilities of foreign bank
ing agencies to foreign affiliates.
48.
Line 19/line 12.
49.
Lines 10 plus 28.
28.
29.
Demand deposits at commercial banks.
Corporate equities
Line
1 and 3.
Includes issues by financial institutions.
Line
4
8 FEBRUARY 1974
HOUSEHOLDS
SECTOR STATEMENTS o f SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1970
1971
SEASONALLY ADJUSTED ANNUAL RATES
1972
1973
I
1972
I III
IV
|
I
II
19 73
III
HOUSEHOLDS, PERSONAL TRUSTS. AND NONPROFIT ORGANIZATIONS
1
2
688.9
97.9
750.9
116.5
808.3
116.6
863.5
117.5
939.2
142.2
1035.5
152.9
943.7
142.8
976.1
147.4
996.6
145.1
1019.0
149.3
1047.1
156.0
3
4
5
6
7
8
591.0
551.2
39.8
6.2
2.5
16.7
634.4
596.2
38.2
6.6
2.5
16.?
691.7
635.5
56.2
8.8
.9
10.6
746.0
685.8
60.2
9.7
.8
16.0
797.0
747.2
49.7
10.5
1.4
23.6
882.6
828.7
53.9
10.6
1.5
28.2
800.9
755.1
45.8
10.6
1.2
25.8
828.7
774.3
54.4
10.8
2.1
25.9
851.5
801.5
50.0
8.8
1.0
32.8
869.7
818.7
51.0
17.0
2.0
31.1
891.1
840.1
51.1
6.4
1.0
28.6
918.0
854.6
63.3
10.0
1.8
20.2
9
10
11
65.0
77.2
142.2
63.6
84.8
148.5
76.4
91.4
167.9
86.7
98.7
185.4
85.3
105.9
191.2
94.0
115.4
209.5
83.4
106.3
189.8
93.2
109.1
202.3
92.7
111.6
204.3
101.1
114.1
215.2
87.0
116.7
203.8
95.3
119.2 ♦ CAPITAL CONSUMPTION
214.6 ■ GROSS SAVING
10
11
12
13
14
15
16
144.5
109.7
21.1
84.0
4.5
144.9
117.8
22.0
90.8
5.1
168.2
116.2
19.6
91.3
5.3
188.5
135.9
26.8
103,5
5.6
206.3
157.8
34.3
117.4
6.1
224.5
177.5
40.1
131.1
6.3
210.2
161,3
35.2
120.2
5.9
213.3
164.6
35.4
122.9
6.3
218.7
176.5
38.1
132.2
6.2
228.7
179.9
40.8
132.8
6.4
216.9
180.4
41.3
132.8
6.3
233.6 GROSS INVESTMENT
173.1
CAPITAL EXPEND.-NET OF SALES
40.1
RE S IDENTIAL CONSTRUCTION
126.7
CONSUMER DURABLE GOODS
6.3
NONPROFIT PLANT ♦ EQUIP.
12
13
14
15
16
17
18
34.8
68.2
27.1
56.7
52.1
74.2
52.6
94.3
48.5
117.5
47.0
113.9
48,9
119.7
48.7
124.7
42.2
110.9
48.8
117.5
36.5
110.4
60.5 NET FINANCIAL INVESTMENT
17
116.7
NET ACQ. OF FINANCIAL ASSETS 18
19
20
54.3
12.3
42 . f.
1.5
54.3
9.5
72.1
10.9
97.5
12.8
95.0
13.0
92.3
14,5
107.1
10.1
99.4
13.5
97.4
10.1
89.3
8.4
93.9
19.8
21
22
23
30.3
17.4
12.9
6.0
-2.0
8.0
44.4
27.5
16.9
70.5
29.8
40.6
75.8
29.8
46.0
63.0
34.6
28.4
76.1
31.1
45.0
70.6
27.3
43.3
93.1
48.7
44.4
64.5
33.2
31.3
37.2
29.8
7.4
57.3
26.6
30.7
TIME ♦ SAVINGS ACCOUNTS
AT COMMERCIAL BANKS AT SAVINGS INST.
24
25
26
27
28
29
11.7
5.5
-.8
4.7
.7
1.5
35.1
12.2
9.6
7.4
4.8
1.1
.5
-7.7
-.5
10.1
-1.5
.1
-9.3
-12.7
-.9
8.2
-3.9
.1
8.9
4.4
1.3
4.9
.4
-2.0
19.0
14.9
1.5
.8
.7
1.1
1.7
-1.3
1.3
3.9
-1.8
-.5
26.4
15.5
3.5
6.5
5.0
-4.1
-7.2
1.2
2.1
-.9
-8.7
-1.0
22.8
23.7
-2.7
-.4
2.1
.1
43.7
27.6
7.3
-.3
8.0
1.0
16.8
6.8
-.6
4.8
1.5
4.3
CREDIT MKT. INSTRUMENTS
24
U.S. GOVT. SECURITIES
25
S. * L. OBLIGATIONS
26
CORPORATE ♦ FGN, BONDS 27
COMMERCIAL PAPER
28
M O R TGAGES
29
30
31
5.8
-13.7
4.8
-9.0
2.6
-5.2
1.2
-6.6
-.6
-5.2
-1.0
-5.5
-.1
2.0
-.8
-10.9
-2.3
-9.8
-1.1
-5.8
1.3
-4.6
-1.9
-1.9
INVESTMENT COMPANY SHARES
OTHER C ORPORATE SHARES
30
31
32
33
4.6
15.5
5.0
15.8
5.2
19.1
6.2
22.1
7.3
20.7
7.7
23.1
8.0
20.8
7.7
22.4
7.7
22.2
7.8
26.6
7.7
21.4
7.7
22.3
LIFE INSURANCE RESERVES
PENSION FUND RESERVES
32
33
34
35
36
-2.2
2.1
1.8
-2.8
-1.8
2.1
-3.6
-.9
2.6
‘3.4
.5
2.3
-5.0
.1
2.7
-8.2
-.2
2.9
-5.3
-.7
2.7
-4.7
1.0
2.8
-8.3
-.9
2.8
-9.0
-1.3
2.8
-8.4
.7
2.9
-7.0
.6
2.9
NET INV. IN NONCORP. BUS.
SECURITY CREDIT
MISCELL A N E O U S ASSETS
34
35
36
37
38
39
40
41
42
43
44
33.4
29.6
14.6
1.1
8.3
1.7
2.2
1.7
29.7
32.?
16.1
1.3
9.4
1.0
1.5
3.0
22.1
22.9
12.5
1.4
5.0
1.1
.5
2.6
♦1.7
38.3
24.1
1.2
9.2
2.0
.4
1.4
69.0
63.3
38.4
1.4
16.0
3.1
3.0
1.3
66.9
70.9
39.4
1.4
20.1
2.8
5.0
2.2
70.8
67.2
40.8
1.5
16.2
2.7
4.2
1.9
75.9
73.7
43.5
1.4
19.6
6.6
1.9
.7
68.7
71.7
38.3
1.4
24.1
1.6
4.4
1.9
68.7
73.1
43.0
1.4
20.2
4.6
2.4
1.6
73.8
77.0
40.7
1.4
21.2
1.3
9.0
3.4
56.2
61 .8
35.4
1.4
15.0
3.8
4.2
2.0
NET INCREASE IN LIABILITIES
CREDIT MARKET INSTRUMENTS
HOME MORTGAGES
OTHER MORTGAGES
INSTALMENT CONS. CREDIT
OTHER CONSUMER CREDIT
BANK LOANS N.E.C*
OTHER LOANS
37
38
39
40
41
42
43
44
45
46
47
2.9
.5
.4
-3.4
.5
.4
-1.8
.5
.4
2.6
.5
.3
4.7
.5
.5
-5.0
.5
.4
2.5
.5
.6
1.2
.5
.5
-3.9
.5
.5
-5.4
.5
.5
-4.1
.5
.4
-6.5
.5
.4
48
-2.3
3.5
-.4
-3.2
-15.1
-15.0
-20.5
-11.1
-14.4
-13.5
-13.2
-19.0
1079.2
161.2 - PERSONAL TAXES ♦ NONTAXES
♦
♦
♦
♦
♦
DISPOSABLE PERSONAL INCOME
PERSONAL OUTLAYS
PERSONAL SAVING* NIA BASIS
CREDITS FROM GOVT. INSURANCE
CAPITAL GAINS DIVIDENDS
NET OURABLES IN CONSUMPTION
DEP. ♦ CR. MKT. INSTR. (1)
DEMAND DEP. ♦ CURRENCY
SECURITY CREDIT
TRADE DEBT
MI S C E LLANEOUS
19
20
21
22
23
45
46
47
(1) EXCLUDES CORPORATE EQUITIES.
49
50
51
52
21.1
8.3
14.6
-1.8
22.0
8.7
16.1
-2.8
19.6
9.0
12.5
-1.9
26.8
9.4
24.1
-6.7
34.3
10.2
38.4
-14.3
40.1
10.4
39.4
-9.7
35.2
10.0
40.8
-15.6
35.4
10.1
43.5
-18.2
38.1
10.2
38.3
-10.4
40.8
10.4
43.0
-12.6
41.3
10.5
40.7
-9.9
40.1
10.6
35.4
-5.9
53
54
55
84.0
67.4
16.7
90.8
74.6
16.2
91.3
80.7
10.6
103.5
87.5
16.0
117.4
93.8
23.6
131.1
103.0
28.2
120.2
94.4
25.8
122.9
97.0
25.9
132.2
99.4
32.8
132.8
101.7
31.1
132.8
104.2
28.6
126.7
106.5
20.2
56
57
10.0
6.7
10.4
5.9
6.0
4.5
11.2
4.8
19.2
4.5
22.9
5.2
18.9
6.9
26.2
-.2
25.7
7.1
24.7
6.3
22.5
6.1
18.8
1.4
58
59
60
61
4.5
1.5
1.1
1.9
5.1
1.6
1.3
2.2
5.3
1.7
1.4
2.2
5.6
1.8
1.2
2.6
6.1
1.9
1.4
2.7
6.3
2.1
1.4
2.8
5.9
1.9
1.5
2.5
6.3
2.0
1.4
2.9
6.2
2.0
1.4
2.8
6.4
2.0
1.4
2.9
6.3
2.1
1.4
2.9
6.3
2.1
1.4
2.8
62
63
14.2
6.7
15.5
6.0
14.4
8.1
13.6
8.1
15.1
6.2
14.8
6.1
15.1
5.7
15.1
6.6
14.6
5.9
14.7
5.9
14.9
5.7
MEMORANDAt
NET PHYSICAL INVESTMENT!
(A) R ESIDENTIAL CONSTRUCTION
EXPENDITURES
- CAPITAL CONSUMPTION
- HOME MORTGAGES
* EXCESS NET INVESTMENT
49
50
51
52
(B) CONSUMER DURABLES
EXPENDITURES
- CAPITAL CONSUMPTION
« NET INVESTMENT
53
54
55
- CONSUMER CREDIT
56
■ EXCESS NET INVESTMENT 57
(C> NONPROFIT PLANT ♦ EQUIP.
EX P ENDITURES
- CAPITAL CONSUMPTION
- NONPROFIT MORTGAGES
* EXCESS NET INVESTMENT
1
PER
CENT RATIOS:
14.9 EFFECTIVE
1
TAX RATE
6.9 !s a v i n g r a t e , n i a b a s i s
64
23.7
23.1
23.9
24.5
23.6
23.4
23.3
24.0
23.7
24.2
PER CENT OF
22.7
23.1 (
65
66
67
68
18.3
11.4
5.6
4.9
18.3
8.8
4.6
5.0
16.6
10.6
3.1
3.3
18.0
12.5
5.5
5.1
19.5
14.5
8.5
7.8
19.8
12.7
7.5
7.9
19.8
14.7
8.7
8.3
19.6
14.8
9.0
8.8
20.5
12.9
8.0
8.3
20.2
13.2
7.7
8.2
20.1
12.3
8.2
8.6
69
599.6
643.6
701.4
756.5
808.9
894.6
1c a p i t a l e x p e n d i t u r e s
at c q u i s i t i o n o f f i n a n . a s s e t s
nI e t i n c r e a s e i n l i a b i l i t i e s
(
812.7
841.6
861.4
888.7
898.5
929.8 l
(NIA DISPOSABLE INCOME ♦ GOVT. INSURANCE CF
IV/73 FIGURES ARE TENTATIVE ESTIMATES BASED ON IJSICOMPLETE INFORMATION.
18.6
12.6
6.0
6.6
58
59
60
61
62
63
65
66
67
68
dispos a b l e income a d j .
i t s ♦ CAPITAL GAINS DIVIO.)
8 FEBRUARY 1974
TOTAL ♦ NONCORP BUSINESS
TOTAL ♦ NONCORP BUSINES|
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL r a t e s
1968
1969
1970
1971
1972
1973
NONpINANCIAL
142.4
79.9
151.2
101.5
174.0
109.2
152.0
103.2
159.9
105.4
167.2
107.1
169.8
106.8
176.9
111.1
182.0 INCOME BEFORE TAXES
112.0 GROSS SAVING
1
2
79.5
116.6
110.5
94.8
2.9
12.8
6.1
86.5
133.3
127.3
108.0
2.1
17.2
6.0
95.7
150.6
143.1
125.4
.2
17.5
7.4
90.7
135.8
127.1
108.1
1.0
18.0
8.7
75.2
142.9
134.7
113.5
2.9
18.3
8.2
91.9
145.1
140.4
120.0
2.9
17.5
4.6
91.3
146.0
141.5
123.1
1.2
17.2
4.5
98.8
150.1
145.4
127.7
-.6
18.4
4.7
100.9 GROSS INVESTMENT
161.0 CAPITAL EXPENDITURES
145.1
FIXED INVESTMENT
131.0
BUSINESS PLANT ♦ EQUIPMENT
-2.9
NONFARM HOME CONST. (1>
16.9
MULTI-FAMILY RESIDENTIAL
15.9
CHANGE IN INVENTORIES
3
4
5
6
7
8
9
-46.8
33.2
80.0
10.4
59.4
-45.0
30.7
75.7
10.2
57.2
12.4
2.2
27.0
13.7
1.8
-67.7
42.3
109.9
10.0
79.2
.9
30.0
33.0
4.1
-53.2
48.5
101.7
4*6
89.5
8.3
-.5
29.0
59.4
-6.7
-54.8
60.5
115.3
6.2
81.7
11.8
1.9
35.1
28.5
4.4
-51.3
59.2
110.5
4.0
87.8
12.7
1.8
36.1
28.5
8.7
-60.1 NET FINANCIAL INVESTMENT
FINANCIAL USES OF FUNDS* NET
39.4
FINAN. SOURCES OF FUNDSt NET
99.4
CORPORATE SHARE ISSUES‘
8.0
CREDIT MARKET INSTRUMENTS
70.1
C ORPORATE BONDS
13.9
HOME MORTGAGES
-4.6
OTHER MORTGAGES
26.7
BANK LOANS N.E.C.
15.9
OTHER LOANS
18.2
10
11
12
13
14
15
16
17
18
19
11.5
-3.2
21.7
-.9
6.8
.6
28.9
-1.5
13.6
5.0
15.7
5.6
12.5
30.2
15.2
15.5
12.3
11.1 1
10.4
7.8
74.6
108.0
103.5
92.0
.9
10.6
4.5
12
13
14
15
16
17
18
19
-26.4
30.6
57.0
-1.5
40.2
12.9
.4
10.9
11.2
4.8
-31.9
30.2
62.?
2.9
45.9
12.0
-.4
10.8
14.4
9.2
-33.4
12.8
46.2
4.8
42.5
19.8
.3
11.6
5.9
4.9
-37.1
25.2
62.3
U.7
48.5
1.9
19.5
6.3
1.9
1.2
26.2
16.4
3.4
-54.8
51.9
106.7
5.7
82.3
11.7
-.3
31.7
33.1
6.2
20
21
17.4
1.0
18.5
-5.2
5.2
-6.3
3.7
-1.5
14.4
-4.2
16.3
2.4
22
8.4
3.4
5.7
13.0
15.0
13.5
11
1^
BUSINESS - TOTAL
138.5
92.4
77.0
108.9
101.1
90.5
10
IV
I
I
128.2
80.3
71.5
97.9
90.9
82.0
1.1
7.8
7.1
.1
I
1972
I III
1 8 .8
1 2 .2
farm
1 1.1
TRADE DEBT
OTHER LIABILITIES
20
21
BUSINESS
1
2
3
4
5
6
14.7
»
6.2
.3
6.0
6.2
16.7
•
6.6
.3
6.2
6.5
16.9
•
6.4
.4
6.0
6.4
16.8
•
6.8
.4
6.5
6.8
20.2
»
7.4
.4
7.0
7.4
26.8
-.1
8.1
.4
7.7
8.0
19.8
•
7.4
.4
7.0
7.3
21.8
-.1
7.5
.4
7.1
7.5
24.3
-.1
7.9
.4
7.5
7.8
24.4
-.1
8.1
.4
7.7
8.0
27.1
-.1
8.1
.4
7.7
8.0
31.3
-.1
8.2
CORPORATE
•4
NONCORPORATE
7.8
8.2 CURRENT SURP. = GROSS SAVING
7
8
9
10
11
6.2
6.3
5.7
.5
.1
6.5
6.6
5.9
.6
.1
6.4
7.0
6.3
.5
.2
6.8
8.6
6.5
.6
1.6
7.4
8.6
7.6
.6
.4
8.0
1C.8
9.5
.6
.7
7.3
9.0
8.1
.6
.3
7.5
9.6
8.8
.5
.3
7.8
9.5
8.7
.6
.2
8.0
10.1
9.5
.5
.1
8.0
11.7
9.6
.6
1.5
8.2
11.7
10.1
.7
1.0
12
13
14
15
16
17
-.1
.6
.2
.4
.3
.1
-.1
.5
.1
•4
.4
.1
-.7
.6
.1
.5
.4
.1
-1.8
.7
.1
.6
.5
.1
-1.2
.6
.1
.5
.4
.1
-2.7
.8
.1
.6
.5
.2
-1.6
.5
.1
.4
.4
*
-2.2
.8
.1
.6
.4
.2
-1.6
.7
.1
.5
.4
.1
-2.1
.8
.1
.7
.4
.2
-3.6
.8
.1
.7
.5
.2
-3.6
.9
.2
.7
.5
.2
18
19
20
21
22
23
24
.7
2.8
2.2
.4
.2
-.1
.2
.6
3.2
1.9
.6
.6
*
.6
1.3
3.2
1.8
.8
.6
-.1
.7
2.5
4.1
2.0
1.3
.7
•
.7
1.8
4.9
2.6
1.8
.5
•
.4
3.5
7.6
4.2
2.4
1.1
-.1
1.1
2.2
4.2
2.6
1.4
.2
.3
-.1
2.9
6.5
2.4
3.6
.5
.1
.4
2.3
7.0
4.0
2.3
.7
-.2
1.0
2.9
7.7
4.6
2.1
1.1
•
1.1
4.5
8.2
4.7
2.1
1.4
•
1.5
4.4
7.5
3.5
3.1
.9
*
.9
25
26
.3
-2.4
.7
-3.2
1.0
-2.9
1.2
-2.8
1.0
-4.0
1.2
-5.3
1.7
-3.7
.6
-4.2
.9
-5.6
1.0
-5.8
1.4
-5.1
1.7
-4.8
PLANT ♦ EQUIPMENT
RESIDENTIAL CONSTRUCTION
CHANGE IN INVENTORIES
ET FINANCIAL INVESTMENT
NET INCR. IN FINAN. ASSETS
DEMAND DEPOSITS ♦ CURRENCY
M I S C f LLANEOUS ASSETS
INSURANCE RECEIVABLES
EQ. IN SPONS. AGS. (2)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
NET INCREASE IN LIABILITIES 18
CREDIT MARKET INSTRUMENTS 19
M ORTGAGES
20
BANK LOANS N.E.C.
21
OTHER LOANS
22
U.S. GOVERNMENT
23
FICB ♦ BANKS FOR COOPS 24
TRAD f DEBT
P ROPRIETOR NET INVESTMENT
25
26
NONFARM NONCORPORATE BUSINESS
1
58.9
60.0
60.3
62.6
63.7
67.5
64.7
65.5
66.2
66.6
68.0
69.0
2
3
11.9
11.9
13.1
13.1
14.6
14.5
15.8
15.8
17.3
16.6
18.5
18.5
17.4
18.3
17.9
15.0
17.9
17.9
18.4
18.4
18.4
18.4
19.1
19.1 CURRENT SURP. ■ GROSS SAVING
4
5
6
7
8
9
10
11.9
16.6
16.1
9.8
.3
5.9
.5
13.1
18.6
17.ft
10. ft
-.3
7.3
1.0
14.5
16.9
18.3
10.6
.2
7.5
-1.4
15.8
21.2
21.7
U.5
1.2
9.1
-.5
16.6
24.1
25.3
12.2
.8
12.3
-1.2
18.5
26.1
25.2
12.9
-.2
12.5
1.0
18.3
23.5
25.2
12.2
.2
12.8
-1.7
15.0
25.8
26.6
12.4
1.2
13.0
-.8
17.9
28.2
26.7
13.0
1.2
12.5
1.5
18.4
26.3
25.8
13.0
.4
12.4
.5
18.4
25.1
25.3
12.9
-.6
13.0
-.2
19.1 GROSS INVESTMENT
25.0 CAPITAL EXPENDITURES
fixed capital
23.0
PLANT ♦ EQUIPMENT
12.8
HOME CONSTRUCTION (1)
-1.8
MULTI-FAMILY RESIDENTIAL
11.9
CHANGE IN INVENTORIES
2.0
11
12
13
14
15
16
17
-4.7
1.0
_
.5
.5
,5
*
-5.*
1.3
_
.ft
.7
.7
*
-2.4
1.3
.
.6
.7
.7
*
-5.5
1.5
.7
.8
.8
*
-7.5
1.8
1.1
.7
.7
*
-7.7
2.1
.
1.3
.8
.8
.1
-5.2
1.6
.
.9
.7
.7
*
-10.8
3.0
2.3
.7
.7
-
-10.3
1.0
.3
.8
.7
•
-7.8
2.3
1.5
.8
.7
«
-6.7
1.7
.9
.8
.8
*
-5.9
3.3
2.3
1.0
.8
.2
NET ACQ. OF FINANCIAL ASSETS
DEMAND DEPOSITS ♦ CURRENCY
CONSUMER CREDIT
M ISCELLANEOUS ASSETS
INSURANCE RECEIVABLES
EQ. IN SPONS. AGS. (2)
12
13
14
15
16
17
18
19
20
21
22
23
5.6
5.6
3.4
.2
2.7
.5
6.7
7.4
3 .ft
-.2
3.
.4
3.7
5.3
4.9
.2
4.3
.4
6.9
8.7
8.0
1.0
6.2
.9
9.3
10.4
9,2
.6
7.3
1.3
9.8
12.6
10.1
-.2
8.8
1.5
6.8
10.5
9.9
1.1
7.4
1.4
13.7
12.8
10.8
.5
8.9
1.5
11.3
14.2
9.5
-.2
8.5
1.2
10.1
13.3
13.0
1.0
10.5
1.5
8.4
13.6
12.1
.9
9.5
1.7
9.2
9.4
5.7
-2.3
6.6
1.4
NET INCREASE IN LIABILITIES
CREDIT MARKET INSTRUMENTS
MORTGAGES
HOME MORTGAGES
MULTI-FAMILY
COMMERCIAL
18
19
20
21
22
23
24
25
1.1
1.0
2.1
1.5
-.6
1.0
.2
.5
.7
.4
.4
2.2
.5
.1
.7
1.2
1.9
2.7
-.6
.9
-1.8
3.2
1.9
1.9
26
27
-.1
.2
-1.1
.S
-.9
-.7
-1.1
-.6
-.2
-.9
*
-2.8
-2.1
-1.6
1.5
-.5
-.1
-2.7
«
-3.2
-1.9
-3.3
2.0
-2.2
ft
BANK LOANS N.E.C.
OTHER LOANS
TRADE DEBT. NET
PROPRIETOR NET INVESTMENT
(1) CHANGE IN WORK IN PROCESS.
(2) SHARES IN F I C B ’St BANKS FOR COOPS* AND LAND BANKS.
IV/73 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
24
25
26
27
8 F E B RUARY 1974
CORPORATE BUSINESS
CORPORATE BUSINESS
SECTOR
OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
statements
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
1968
1969
1970
1971
1972
1973
1 III
IV
1
I
II
III
IV
CORPORATE BUSINESS
1
2
3
4
5
6
7
8
72.2
34.0
20.8
17.5
2.5
-3.3
45.1
61.7
67.9
33.6
20.7
13.6
2.5
-5.1
49.A
60.7
55.7
27.5
20.0
8.3
2.3
-4.8
53.6
59.4
64.0
29.6
20.2
14.2
2.9
-4.9
57.7
69.9
74.2
34.9
21.1
18.1
3.5
-6.9
62.8
77.5
97.0
46.7
22.3
27.9
4.5
-17.3
67.6
82.8
74.5
35.0
21.3
18.1
3.5
-6.9
62.9
77.6
79.9
37.5
20.9
21.3
4.2
-7.3
64.8
82.9
92.0
44.2
21.4
26.5
4.3
-15.4
65.9
81.3
99.8
48.1
21.9
29.9
4.4
-21.1
67.1
80.3
98.8
47.6
22.5
28-. 7
4.6
-17.0
68.4
84.7
97.3
47.0
23.5
26.8
4.7
-15.6
68.9
84.8
PROFITS b e f o r e t a x
- PROFITS TAX ACCRUALS
- NET DIVIDENDS PAID
■undistributed profits
♦ FOREIGN BRANCH PROFITS
♦ inv. valuation adjustment
♦ CAPITAL CONSUMPTION ALLOW.
- gross internal funds
1
2
3
4
5
6
9
10
11
12
13
14
15
53.3
75.0
68.6
66.5
.3
1.8
6.4
57.3
83.7
76.9
74.0
-.3
3.2
6.7
53.7
84.0
78.4
75.1
.2
3.1
5.7
56.9
86.7
81.8
76.8
1.2
3.7
5.0
62.5
100.7
93.9
88.2
.8
4.9
6.8
69.2
113.7
107.9
103.0
-.2
5.1
5.8
65.1
103.3
93.2
87.9
.2
5.1
10.1
52.7
107.4
98.8
92.3
1.2
5.3
8.7
66.1
107.4
104.5
98.3
1.2
5.0
2.9
64.8
109.7
105.7
100.6
.3
4.8
3.9
72.4
113.3
109.9
105.2
-.6
5.4
3.4
73.6 GROSS INVESTMENT
124.2 c a p i t a l e x p e n d i t u r e s
111.4
FIXED INVESTMENT
108.1
PLANT ♦ EQUIPMENT
-1.8
HOME CONSTRUCTION
m u l t i - f a m i l y RESIDENTIAL
5.0
12.9
CHANGE IN INVENTORIES
9
10
11
12
13
14
15
16
17
-21.7
29.0
-26.4
28.4
-30.3
11.0
-29.8
23.0
-38.2
30.7
-44.4
49.0
-38.2
28.5
-54.7
38.6
-41.3
46.8
-44.9
57.4
-41.0
56.7
16
-50.6 NET FINANCIAL INVESTMENT
35.2
FINANCIAL USES OF FUNDS* NET 17
18
19
20
21
22
23
24
8.0
1.7
.4
.3
.5
4.2
.9
2.3
2.6
-2.4
-2.3
-1.0
4.0
1.4
-1.1
.4
1.7
.3
-.6
.5
-3.4
10.6
.7
3.6
2.0
1.0
2.4
.8
5.1
•
3.1
-2.4
1.0
1.7
1.6
19.2
.4
7.8
3.0
.1
5.4
2.6
1.0
-.8
1.8
3.6
1.0
-1.7
-3.0
7.5
3.4
1.2
-1.0
1.0
1.7
1.3
17.5
-4.0
16.8
.9
1.0
-2.5
5.3
21.4
2.3
8.4
5.1
1.0
7.2
-2.7
28.0
l.l
12.8
3.3
-1.0
5.2
6.6
10.0
2.3
-7.0
2.5
-.7
11.9
1.0
LIQUID ASSETS
DEMAND DEP. ♦ CURRENCY
25
26
27
28
29
30
31
#
18.6
2.4
1.1
.5
.8
•
.3
22.7
3.0
2.2
-.4
1.1
.1
.7
7.1
4.2
3.6
-.4
.9
.1
.6
5.6
6.2
3.8
1.4
1.0
•
1*6
19.8
4.3
1.4
1.8
1.2
•
2.0
22.3
5.5
2.0
2.4
1.1
•
3 *3
17.6
8.6
2.6
4.8
1.2
•
3.4
28.5
-.6
1.5
-3.5
1.2
•
1.2
15.5
12.6
6.7
4.7
1.1
«
3.3
26.0
6.8
1.6
4.0
1.1
•
1.0
25.9
1.8
-.2
.8
1.1
•
2.5
21.7
1.0
-.2
.1
1.1
•
25
C ONSUMER CREDIT
TRADE CREDIT
26
MISCELLANEOUS ASSETS
27
FOREIGN DIR. INVEST. (1) 28
29
FOREIGN CURRENCIES
insurance receivables
30
EQUITY IN SPONSORED AGS. 31
32
33
34
35
50.7
30.3
-1.5
31.8
54.8
38.3
2.9
35.4
41.3
38.8
4*8
33.9
52.8
47.4
U.7
35.7
68.9
54.5
10.4
44.1
93.4
67.7
5.7
62.1
66.7
52.8
10.2
42.5
93.3
69.9
10.0
59.9
88.0
73.0
4.6
68.3
102.2
66.9
6.2
60.7
97.6
70.0
4.0
66.0
85.8
61.1
8.0
53.2
FINAN. SOURCES OF FUNDS* NET 32
NET FUNOS RAISED IN MKTS. 33
34
net new share issues
debt instruments
35
36
37
38
39
40
12.9
5.7
.2
.7
4.8
12.0
4.6
-.2
1.2
3.7
19.8
5.2
.2
1.5
3.6
18.8
11.4
1.0
2.6
7.9
12.2
15.6
•6
3.0
12.0
11.7
17.1
-.2
4.2
13.1
12.4
16.8
1.1
3.0
12.7
11.1
17.7
.5
3.7
13.5
8.3
15.0
-.2
4.1
11.1.
11.8
19.5
1.0
5.1
13.5
12.7
21.1
.9
4.8
15.3
13.9
12.9
-2.3
2.8
12.4
CORPORATE BONDS (1)
MORTGAGES
HOME MORTGAGES
m u l t i -f a m i l y
41
42
43
44
9.7
1.6
1.7
.2
11.6
2.7
4.3
.1
5.7
2.6
.4
.3
4.8
-1.5
1.9
.2
13.9
-.5
2.8
.2
30.3
1.2
1.8
-.1
11.8
-2.6
4.0
.2
28.7
-1.8
3.6
.6
55.2
-11.7
1.8
-.2
27.0
2.2
.1
•
28.2
2.6
1.5
•
10.9
11.6
4.0
-.2
BANK LOANS N.E.C.
o p e n -m a r k e t p a p e r
45
46
47
2.9
17.2
.3
-3.3
19.0
.8
-3.7
5.2
1.0
2.0
3.6
-.1
.6
13.6
.2
8.3
15.1
2.3
1.4
11.8
.7
3.2
19.6
.6
7.9
6.1
1.1
5.3
27.9
2.1
10.5
14.3
2.9
9.6
12.0
3.0
time
deposits
0OVT. s e c u r i t i e s
U.S.
s. ♦ L. OBLIGATIONS
COMMERCIAL PAPER
SECURITY R.P.#S
commercial
finance
company
loans
U.S. GOVERNMENT LOANS
PROFIT TAX LIABILITY
trade debt
miscellaneous
liabilities
7
&
18
19
20
21
22
23
24
36
37
38
39
40
41
42
43
44
45
46
47
48
8.4
3.4
5.7
13.0
15.0
13.5
12.5
30.2
15.2
15.5
12.3
11.1 DISCREPANCY
48
49
50
1.4
31.8
3.8
37.0
1.9
31.3
2.0
27.8
6.2
34.0
7.2
38.7
5.8
34.3
8.9
33.8
9.4
35.3
-1.9
43.4
11.6
38.4
9.7 MEMOl NET TRADE CREDIT
37.6 PROFITS TAX PAYMENTS
49
50
51
52
53
47.0
121.6
42.4
49.5
137.8
42.3
49.4
141.4
40.4
46.2
124.1
41.1
47.1
129,9
43.9
48.2
137.3
54.6
47.0
133.1
41.2
46.9
129.6
55.8
48.1
132.0
63.6
48.2
136.6
55.4
48.2
133.8
58.2
PER CENT RATIOS*
48.3 e f f e c t i v e t a x r a t e
51
146.6 CAPITAL OUTLAYS/INTERNAL FUNDS 52
42.8 CR. MKT. BORROWING/CAP. EXP.
53
(1) FOREIGN INVESTMENT EXCLUDES AMOUNTS FINANCED BY BONO
ISSUES ABROAD* AND BONO ISSUES OUTSIDE THE U.S. ARE
EXCLUDED FRO M FINANCIAL SOURCES OF FUNDS ABOVE.
IV/73 FIGU R E S ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
GOVERNMENTS
8 FEBRUARY 1974
GOVERNMENTS
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
EASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
1972
1971
1973
I III
IT
III
IV
STATE AND LOCAL GOVERNMENTS - GENERAL FUNDS
107.1
82.0
6.4
18.7
119.7
92.1
7.3
20.3
135.0
10?.3
8.3
24.4
152.3
113.8
9.4
29.1
177.2
128.8
10.7
37.7
194.8
141.7
12.0
41.2
175.3
130.1
10.9
34.4
191.2
133.8
11.3
46.1
190.2
137.5
11.6
41.1
192.8
140.5
11.0
40.5
196.0
143.3
12.1
40.5
RECEIPTS* NIA BASIS
200.3 TOTAL
f
TAX RECEIPTS
145.4
SOCIAL INS. R E CFIP TS
12.5
GRANTS IN AID HEC.
42.5
107.5
119.0
111.2
7.8
.7
5.1
133.2
123.3
9.9
148.3
136.2
12.0
4.0
164.0
150.5
13.5
13.1
7.3
5.9
183.8
170.3
13.5
11.1
8.4
165.9
152.4
13.5
9.4
7.5
1.9
171.6
158.0
13.6
19.6
6.7
12.9
176.3
163.0
13.3
13.9
7.3
185.7
172.?
13. 5
10.4
5.5
4.9
191.9
178.0
14.0
8.4
8.4
6.6
181.1
168.0
13.1
11.7
12.5
-.8
-1.1
8.4
6.3
.2
6.1
-6.4
6.9
1.7
5.1
4.8
16.8
10.9
.5
10.4
-.3
6.7
9.8
-1.0
10.9
-1.5
5.3
6.9
2.4
4.5
1.9
14.5
8.7
-3.4
12.1
1.5
1.8
.8
.4
-1.2
1.7
5.3
5.7
5.0
.7
-3.7
-2.9
-2.9
-.1
-2.1
-2.0
-3.3
1.3
5.3
5.6
1.9
3.7
-.7
-.1
-.3
.6
.5
100.8
6.7
-.3
4.8
-5.2
11
12
13
14
15
-4.5
-9,4
6.0
1 .8
16
17
16
19
2.3
• 6.3
-4.5
-.2
3.2
-.5
2.7
6.9
6.9
3.5
3.3
.1
-.1
2.2
10.4
9.8
9.5
23
24
25
26
27
.1
9.4
.3
28
29
.6
- ? .8
-
1.8
11.0
8.6
1.6
6.2
- 1.0
10.0
7.2
6.8
- 1.0
- 1.0
-2.4
-2*2
2.0
-
-.4
-.6
-
1.8
2.1
1.4
.7
1.2
1.1
2.6
8.1
.1
1.7
-.2
.1
.7
6.8
-13.5
4.0
-4.5
1.4
-5.9
3.0
20
21
22
1.8
-.6
-.9
11.2
10.7
9.9
2.8
7.2
11.8
11.4
11.3
2.3
9.0
.7
.5
.5
12.9
12.3
11.9
-1.0
12.9
17.6
17.0
2.4
14.2
8.8
8.9
-.1
6.1
- 1.2
7.3
.3
1.0
.6
.3
.6
•1
.4
7.0
6.4
12.0
11.4
10.4
-1.9
12.3
14.5
13.9
13.4
-.5
13.9
.6
TOTAL EXPENDITURES* NIA BASIS
’
PURCHASES OF G00DS*SERVIC£S
NET INTEREST ♦ TRANSFERS
NET
SURPLUS* NIA BASIS
1
-■ RETIREMENT CREDIT TO HH
r GROSS SAVING
7
8
9
10
12
13
14
15
6.3
6.7
4.8
2.0
CREDIT MARKET INSTRUMENTS
U.S. GOVT. SECURITIES
DIRECT
U.S. GOVT. AGENCY SEC.
16
17
18
19
-.4
«
.6
S T .+ L O C . OBLIGATIONS
HOME MORTGAGES
TAXES RECEIVABLE
20
21
22
NET INCREASE IN LIABILITIES
CREDIT MARKET BORROWING
S. ♦ L. OBLIGATIONS
SHORT-TERM
OTHER
12.7
12.1
12.3
l.S
10.8
11.3
10.7
10.7
2.1
8.7
-.2
.6
-.?
.6
•
.6
3.ft
6
-4.4 1
NET ACG. OF FINANCIAL ASSETS
7.0
TOTAL DEPOSITS ♦ CURRENCY
*
DEMAND DEP. ♦ CURRENCY
3.1
TIME DEPOSITS
-3.1
6.8
6.3
6.5
-2.8
9.2
.7
5
U.S. GOVERNMENT LOANS
TRADE DEBT
28
29
4.3
EMPLOYEF RETIREMENT FUNDS ARE IN INSURANCE SECTOR.
U.S. GOVERNMENT
6
7
8
9
10
11
12
13
14
15
16
17
18
19
175.0
79.7
36.7
18.0
40.7
197.3
94.8
36.6
19.0
46.9
192.0
92.2
31.0
19.3
49.5
198.9
89.9
33.3
20.4
55.2
228.7
107.9
37.8
19.9
63.0
265.4
114.5
49.8
21.0
80.1
229.6
108.1
38.0
19.9
63.6
236.9
111.3
40.7
20.3
64.6
253.6
108.5
46.6
20.7
77.8
262.4
111.4
50.8
21.2
79.1
269.5
116.9
51.
20.«
80.8
276.0 TOTAL RECEIPTS* NIA BASIS
121.1
PERSONAL TAXES
50.8
CORP. PROFITS TAX ACCRUALS
21.5
INDIRECT TAXCS
82.6
INSURANCE RECEIPTS
181.5
98.8
34.1
11.7
36.9
-6.5
1.3
-7.8
189.2
98.8
37.2
13.1
40.0
8.1
1.6
6.5
203.9
96.2
45.1
14.6
48.1
-11.9
2.5
-14.4
221.0
98.1
47.0
13.6
62.4
-22.2
2.9
-25.1
244.6
104.4
47.8
13.5
78.8
-15.9
3.2
-19.1
264.7
106.9
49.1
15.9
92.9
.7
2.1
-1.5
237.1
102.3
40.5
13.4
80.9
-7.5
3.1
-10.5
260.3
102.7
58.7
13.7
85.2
-23.4
4.1
-27.5
258.6
105.5
49.1
14.7
89.3
-5.0
1.5
-6.5
262.3
107.3
48.1
15.6
91.3
.1
4.5
-4.4
265.6
106.P
48.3
16.2
94.2
4.0
.9
3.1
272.4
107.8
50.8
16.9
96.9
3.6
1.6
2.0
6.1
3.7
1.1
2.9
-1.3
.7
3.5
-2.6
2.2
-15.2
.7
2.5
? •8
-.1
.3
2.6
-2.3
-2.3
-25.0
4.1
3.3
3.2
*
*
3.2
1.3
-3.8
-20.1
.9
-1.0
2.3
»
-.2
2.6
.5
-1.0
-2.5
9.6
-.6
1.7
«
-.5
2.2
8.2
.3
-14.0
.5
-3.1
4.2
.3
4.0
.3
-1.0
-28.7
11.4
8.2
2.0
•
-.9
2.9
4.1
-2.9
-7.3
27.1
14.4
1.9
*
-1.6
3.5
9.4
1.4
-6.9
-1 .4
-6.4
-1.3
*
-3.0
1.7
4.7
1.6
4.*!
-4.5
-17.6
4 .P
#
3.1
1.7
9.4
-1.1
-2.5
-3.6
-.4
-.9
-2.4
1.6
-.4
15.9
12.8
.3
12.6
-.1
2.5
.6
29.1
25.5
2.4
23.6
-.5
2.9
.6
21.0
17.3
3.3
10.6
3.4
3.2
.4
12.1
9.7
3.8
4.4
1 .5
2.1
.3
14.5
10.9
3.3
3.1
4.6
3.1
.5
40.1
33.4
3.1
25.0
5.3
4.1
2.7
34.4
32.7
3.9
26.2
2.6
1.5
.1
5.5
1.2
3.6
-2.1
-.2
4.5
-.3
-8.9
-9.7
1.9
-14.3
2 .*
.9
.4
39.2
.8
33.4
-.1
32.0
1.0
37.3
1.0
41.6
3.5
37.7
1.3
36.6
.8
37.3
2.4
46.0
-1.4
41.6
2.3 DISCREPANCY
41.3 MEMO: CORP. TAX RECEIPTS*
25.9
-.2
24.5
1 .7
8.5
1.9
12.5
*
1.1
1 1.4
1 .6
31.3
14.4 NET INCREASE IN ASSETS
DEMAND DEPOSITS ♦ CURRENCY
.5
CREDIT MARKET INSTRJMENTS
12.8
U.S. GOVERNMENT St'CUPITU^
1.5
RESIDENTIAL MORTGi'-r.^ <i)
7.9
FARM m o r t g a g e s
2.1
OTHER LOANS
1.2
TO COOPS (BC)
-1.0
TO FARMERS (FICB)
.9
TO S*L'S (FHLB)
1.3
MISCELLANEOUS
ASSETS
1.1
25.6
23.7
23.7
31.1
28.5
28.5
2.A
-1.7
4.9
.1
1.1
20
21
3.7
1.7
2.5
24
25
26
27
15.9
13.4
.4
9.9
3.1
1.3
1.1
30
31
ft
TOTAL EXPENDITURES* NIA BASIS
GOODS ♦ SERVICES
GRANTS ♦ DONATIONS
NET INTEREST
INSURANCE BENEFITS
NET SURPLUS* NIA BASIS
- INSURANCE CREDITS TO HH
* GROSS SAVING
-.2 NET FINANCIAL INVESTMENT
17.3
NET ACQ. OF FINANCIAL ASSETS
DEMAND DEPOSITS + CURRENCY
7.
CREDIT MARKET INSTRUMENTS
1.5
SPONSORED AGENCY ISSUES
MOHTGAGES
-.5
OTHER LOANS
1.9
TAXES RECEIVABLE
9.5
OTHER ASSETS
-.7
14
15
16
17
18
19
20
21
22
NET INCREASE IN LIABILITIES
U.S. GOVERNMENT SECURITIES
SAVINGS BONDS
DIRECT EXCL. SVGS. BONDS
BUDGET AGENCY ISSUES
LIFE ♦ RETIREMENT RESERVES
OTHER LIABILITIES
23
24
25
26
27
28
29
5.9
7.9
.9
1.6
1.3
30
FEDERALLY SPONSORED CREDIT AGENCIES
.1 CURRENT SURPLUS
.1
3.4
.1
3.2
-.1
9.0
-1.5
5.6
.7
-.2
3.9
.6
4.8
.2
4.0
.2
-.3
.1
.1
20.0
1.3
5.5
1.2
8.2
2.0
8.5
.3
1.1
7.2
.8
.1
3.2
3.5
3.2
16
17
16
- 2.0
.6
10
11
12
21.0
2.8
10.fi
8.?
2.5
.]
20,8
1^.1
19.1
5.6
-.1
2.8
•5.1
4.4
1.3
2.3
.5
-.1
1.9
2.9
4.7
.2
6.1
-4.1
5.0
1.6
3.6
.2
.4
3.1
-1.6
12.3
.2
13.0
-2.1
6.0
1.9
7.1
2.1
1.0
4.1
-.9
5.4
4.6
4.6
4.6
5.3
5.3
12.0
11.4
11 .4
.8
-.7
_
- .1
_
*
_
.6
-.2
_
1 .9
-.2
30.0
4.2
10.5
1.0
13.4
.1
1 .*
11.°
l.«
-.1
14.4 NET INCREASE IN LIABILITIES
12.9
12.9
1.5
CREDIT MARKET INSTRUMENTS
SPONS. AGENCY ISSUES <1>
U.S. GOVERNMENT LOANS
MISCELLANEOUS LIABILITIES
.1
THIS C-ROUP CONSISTS OF FEDERAL HOME LOAN BANKS* FEDERAL NATIONAL
MORTGAGE ASSOCIATION, FEDERAL INTERMEDIATE CREDIT BANKS* BANKS
FOR COOPERATIVES, AND FEDFRAL LAND BANKS.
THESE AGENCIES A«E
PRIVATELY OWNED AND ARE EXCLUDED FROM U.S. GOVT. BUDGET ACCOUNTS
AS OP 19*9 AND FROM U.S. fiOVT. FIGURES IN THESE ACCOUNTS FOR A*-L
YEARS.
(1) ALL GNMi-GUARANTFED CECUBITIFC BACKED BY MORTGAGE POOLS ARE INCLUDED
IN AGENCY S E C U R I T I E S . THE MORTGAGE POOLS ARE INCLUDED IN RESIDENTIAL
MORTGAGES. •
IV/73 FIGURES ARE TENTATIVE ESTTMATFS RASED ON INCOMPLETE INFORMATION.
15
16
17
18
9 FEBRUARY 197*
BANKING SYSTEM
8
banking system
8
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1968
1969
1970
SEASONALLY ADJUSTEO ANNUAL RATES
1971
1972
1973
IV
I III
1
I
II
III
IV
MONETARY AUTHORITIES
1
*
*
•
-.1
.1
.2
.1
.1
.1
.1
.?
2
3
4
5
6
7
8
9
10
3.6
-1.2
.2
.9
•
3.7
3.8
-.1
-
4.2
-.1
.1
»
•
4.2
4.2
•
-
5.3
-1.4
.7
.8
.2
5.0
5.0
*
-
8.3
-.8
.5
.1
-.3
8.8
8.6
.2
-
2.1
-.4
.7
-.4
1.9
.2
.3
-.2
“
7.6
-.2
.4
-1.2
-.7
9.3
9.4
*
-
-2.9
.4
.5
2.1
2.0
-7.9
-7.8
#
“
1.8
.3
.5
-5.1
6.5
-.4
-.6
.2
-
15.9
-.8
.4
-.9
-3.3
20.5
20.3
.2
-
4.6
-.1
.4
-.8
1.5
3.5
3.9
-.4
-
16.3
.1
.3
4.3
10.4
1.4
1.0
.4
*
-6.4 NET ACQ. OF FINANCIAL ASSETS
2
GOLD ♦ F OREIGN EXCHANGE
3
TREASURY CURR. ♦ SDR CTFS.
4
.3
F.R. FLOAT
-7.2
5
-11.4
F.R. LOANS TO DOMESTIC BANKS 6
12.0
CREDIT MARKET INSTRUMENTS
7
U.S. GOVERNMENT SECURITIES 8
12.3
-.4
A CCEPTANCES
9
BANK LOANS N.E.C.
10
-
11
12
13
3.6
.8
1.3
4.1
.2
.1
5.3
2.1
-.3
8.3
3.6
.5
2.0
-2.1
1.1
7.5
1.1
2.1
-3.0
-5.9
5.6
1.7
-4.6
.8
15.8
2.9
2.0
4.4
-2.9
-5.3
16.?
22.0
5.6
14
15
16
17
18
-1.0
.1
2.4
.1
.5
-.1
2.8
«
.5
-.4
•
3.5
«
.4
.9
.1
3.4
«
-.2
-.3
-.1
4.4
#
-1.0
-.5
-.1
3.8
.1
.8
-2.5
-.2
-1.5
-.4
1.8
»
.5
8.2
.5
-3.6
7.2
.3
1.4
.2
1.8
2.3
*
10.7
»
-.3
-12.4
.3
-.8
.?
1.4
-6.6 NET INCREASE IN LIABILITIES
-17.5
MEMBER BANK RESERVES
6.3
VAULT CASH OF COML. BANKS
DEMAND DEPOSITS ♦ CURRENCY
.9
DUE TO U.S. GOVERNMENT
-.8
DUE TO REST OF THE WORLD
3.9
CURRENCY OUTSIDE BANKS
TAXES PAYABLE
.1
.5
MISCELL A N E O U S LIABILITIES
.2 C URRENT SURPLUS
1
11
12
13
14
15
16
17
18
COMMERCIAL BANKING (1)
1
2
3.0
1.3
3.7
1.9
3.3
2.1
2.8
2.3
3.7
2.5
5.4
2.5
3.5
2.5
4.2
2.5
4.7
2.5
5.4
2.5
5.6
2.5
3
4
5
6
7
8
9
46.3
•
40.1
38.7
3.3
2.1
1.2
22.0
•
17.2
18.2
-10.0
-9.7
-.3
45.2
.1
36.6
35.1
10.4
6.9
3.5
58.5
.1
51.4
50.6
6.9
3.1
3.8
78.3
.2
74.6
69.7
6.5
2.4
4.1
96.3
.1
80.6
85.2
-1.8
-8.5
6.6
89.8
.2
77.6
76.1
4.8
3.1
1.7
75.1
«
94.1
88.7
8.3
1.9
6.4
142.8
.1
106.1
114.0
-10.6
-11.9
1.3
99.7
.1
87.9
84.6
4.7
-5.3
10.0
97.3
.1
74.7
79.fl
-.9
-10.6
9.7
10
11
12
13
14
15.5
8.6
.3
3.5
3.2
5.6
.2
-.1
3.0
2.4
13.9
10.7
.8
.9
1.6
23.8
12.6
1.3
5.7
4.2
24.8
6.3
1.7
9.0
7.8
23.3
4.6
-.2
10.2
8.7
26.9
8.0
1.0
10.2
7.8
21.8
1.7
2.1
9.8
8.2
20.2
2.2
-.3
9.8
8.5
25.8
4.5
-.4
11.8
9.9
22.0
2.7
*
10.3
9.0
25.3
9.0
»
8.8
7.4
OTHER SECURITIES ♦ MTGS.
S. ♦ L. OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
10
11
12
13
14
15
16
17
18
20.0
5.7
15.7
-1.4
22.7
4.7
17.6
.5
10.7
2.9
5.8
2.0
19.8
6.7
12.4
.8
38.4
10.1
28.5
-.2
63.8
10.6
53.1
*
44.4
10.7
34.6
-.6
58.6
12.7
45.0
.8
104.4
13.1
92.5
-1.2
56.2
11.0
47.5
-.3
58.7
10.9
48.7
-.*
33.7
7.4
23.8
2.5
OTHER CR. EXCL. SECURITY
CONSUMER CREDIT
BANK LOANS N.E.C.
o p e n -m a r k e t p a p e r
15
16
17
18
19
20
.1
1.3
•
-1.1
.1
1.4
»
.8
.1
4.8
.1
-4.7
1.4
5.4
.2
-8.1
-.7
-5.1
-5.0
21
22
23
2.0
.7
3.4
.3
1.6
2.8
1.8
1.7
5.0
4.1
1.7
1.2
-1.0
1.4
3.1
3.3
3.7
8.7
-.2
3.2
9.0
-3.9
-14.3
-.9
4.9
16.5
15.2
-8.2
11.6
8.3
27.6
-12.?
7.1
-11.3
-1.1
4.0
24
25
26
27
44.4
13.3
-.2
13.5
20.1
4.9
•
4.9
43.5
11.2
2.9
8.3
56.3
13.0
2.2
10.8
75.6
16.4
.7
15.6
92.0
12.6
-1.0
13.6
87.8
24.8
1.0
23.7
71.7
24.5
9.1
15.4
138.4
11.4
8.6
2.8
93.9
2.6
-11.4
13.9
94.?
1.0
-9. ?
10.2
28
29
30
31
20.7
3.1
17.4
.2
-9.5
-12.5
2.9
.2
38.0
15.2
?2.4
.4
41.4
8.7
32.4
.3
42.3
9.8
33.0
-.5
51.0
20.1
30.4
.6
40.9
21.5
20.5
-1.1
42.8
13.3
31.0
-1.4
82.0
43.4 .
37.7
.9
49.3
17.0
31.9
.4
54.n
34.7
19.6
.5
18.1
-14.8
32.4
.5
TIME DEPOSITS
LARGE NEGOTIABLE CD*S
OTHER AT COMMERCIAL BANKS
AT F O R EIGN BANKING AGS.
28
29
30
31
33
34
35
36
37
1.3
.9
•
.7
-.1
6.1
»
•
1.6
.1
-4.9
»8
.2
1.7
.3
3.3
.1
-.3
1.7
*
4.8
-.4
1.9
1.4
-.2
10.0
-1.2
-.7
3.7
.1
6.5
2.1
2.0
3.2
.1
-3.2
-5.1
6.5
-14.3
-
21.3
-.9
-3.3
16.5
.2
4.3
— .8
1.5
11.6
.2
12.8
4.3
10.4
-12.2
-.1
1.8
-7.2
-11.4
-1.1
•
CREDIT & EQUITY MKT. INSTRUMENTS
F.R. FLOAT
BO R ROWING AT F.R. BANKS
TAXES PAYABLE
33
34
35
36
37
38
39
40
7.6
2.3
5.3
16.9
7.9
8.9
-3.7
-6.9
3.2
-2.7
-4.1
1.3
9.3
.9
8.4
16.4
1.0
15.5
8.3
4.0
4.3
20.5
-3.3
23.7
11.3
-1.1
12.4
25.2
2.8
22.5
23,?
1.8
21.4
6.1
.3
5.8
MISCE L L A N E O U S LIABILITIES
LIAB. TO FGN. AFFILIATES
OTHER
38
39
40
41
-.1
•
-.5
-1.7
-1.5
-1.3
-.9
-1.6
-2.2
-3.0
»
-
_
_
6.1 CURRENT SURPLUS
2.5 PLANT ♦ EQUIPMENT
1
2
45.2 NET ACQ. OF FINANCIAL ASSETS
«
OEMAND DEPOSITS ♦ CURRENCY
53.5
TOTAL BANK CREDIT
CREDIT MARKET INSTRUMENTS
58.5
-.5
U.S. GOVT. SECURITIES
-6.1
DIRECT
5.6
AGENCY ISSUES
_
CORPORATE EQUITIES
SECURITY CREDIT
VAULT CASH ♦ MEM. BANK RES.
OTHER INTERBANK CLAIMS
MISCELL A N E O U S ASSETS
41.6 NET INCREASE IN LIABILITIES
35.4
OEMAND DEPOSITS. NET
7.9
U.S. GOVERNMENT
OTHER
27.5
other
interbank
claims
• DISCREPANCY
(1) CONSISTS OF CHARTERED COMMERCIAL BANKS, THEIR DOMESTIC AFFILIATES*
EDGE ACT CORPORATIONS* A6ENCTES OF F0REI6N BANKS* AND BANKS IN U.S.
POSSESSIONS. EDGE ACT CORPORATIONS AND AGENCIES OF FOREIGN BANKS
APPEAR TOGETHER IN THESE TABLES AS “FOREIGN B ANKING AGENCIES.'*
IV/73 FIGURES ARE TENTATIVE ESTTMATFS BASED ON INCOMPLETE INFORMATION.
3
4
5
6
7
8
9
19
20
21
22
23
24
25
26
27
41
8 FEBRUARY 1974
COMMERCIAL BANKING SUBSECTORS
COMMERCIAL BANKING SUBSECTORS
9
9
SUBSECTOR STATEMENTS FOR COMPONENT GROUPS IN COMMERCIAL BANKING
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1968
1969
1970
SEASONALLY ADJUSTED ANNUAL RATES
1971
1972
I
1972
I III
1973
|
I
IV
1973
I
II
III
IV
COMMERCIAL BANKS
6.1 CURRENT SURPLUS
2.5 PLANT ♦ EQUIPMENT
1
2
1
2
3.0
1.3
3.7
1.9
3.3
2.1
2.8
2.3
3.7
2.5
5.4
2.5
3.5
2.5
4.2
2.5
4.7
2.5
5.4
2.5
5.6
2.*
3
4
5
6
7
8
43.5
39.6
38.3
3.2
2.0
1.2
13.6
11.6
12.7
-10.1
-9.8
-.3
38.0
34.7
33.3
10.5
7.0
3.5
56.6
51.1
50.3
7.0
3.2
3.6
77.3
73.5
68.8
6.0
2.1
3.9
87.1
76.1
60.1
-1.9
-8.4
6.6
81.3
75.0
73.5
3.8
2.1
1.7
79.7
87.6
82.5
7.4
1.9
5.6
121.1
99.3
106.1
-10.8
-11.8
1.0
83.4
85.1
85.2
5.1
-4.9
10.0
99.?
68. n
72.?
-1.0
■10.7
9.7
44.8 NET ACQ. OF FINANCIAL ASSETS
TOTAL BANK CREDIT
52.2
CREDIT MARKET INSTRUMENTS
57.0
U.S. GOVT. SECURITIES
-.7
DIRECT
-6.2
AGENCY ISSUES
5.5
9
10
11
12
13
15.5
8.6
.3
3.5
3.2
5.3
.2
-.1
3.0
2.3
13.6
10.5
.8
.7
1.6
23,9
12.8
1.3
5.6
4.2
25.3
7.1
1.4
9.0
7.8
23.2
4.7
-.2
10.2
8.6
26.6
7.9
1.0
10.1
7.5
22.9
3.8
.9
9.8
8.4
20.3
2.6
-.3
9.8
8.1
25.8
4.5
-.4
11.8
9.9
21.7
2.6
-.1
10.3
8.Q
25.1
9.0
-.1
8.6
7.4
OTHER SECURITIES ♦ MTGS.
S. ♦ L. OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
9
10
11
12
13
14
15
16
17
18
19.5
5.7
15.3
-1.4
1.3
17.5
4.7
12.3
.5
-1.1
9.1
2.9
4.2
2.0
1.4
19.4
6.7
11.9
.8
.8
37.6
10.1
27.7
-.2
4.7
58.8
10.6
48.2
•
-4.0
43.2
10.7
33.4
-.8
1.4
52.2
12.7
38.7
.8
5.1
96.6
13.1
84.7
-1.2
-6.8
54.4
11.0
43.7
-.3
-.1
51.6
10.Q
41.5
- .A
-4.?
32.6
7.4
22.7
2.5
-4.8
OTHER CR. EXCL. SECURITY
CONSUMER CREDIT
BANK LOANS N.E.C.
o p e n -m a r k e t p a p e r
SECURITY CREDIT
14
15
16
17
18
19
20
21
2.1
2.0
«
.4
.3
.1
2.0
1.8
.2
4.0
4.1
-.1
1.5
-1.0
2.5
5.2
3.3
1.9
.4
-.2
.7
-8.7
-3.9
-4.9
12.0
4.9
7.1
-3.2
-8.2
5.0
23.3
27.6
-4.3
-11.3
-11.3
•
19
INTERBANK CLAIMS
VAULT CASH ♦ MEM. BK. RES. 20
DEP. AT FGN. BANKING AG*
21
MISCELLANEOUS ASSETS
22
1.9
1.6
1.3
1.5
2.2
5.8
5.8
.8
9.7
1.5
S.n
23
24
25
26
41.7
12.3
-.2
12.5
11.8
4.6
»
4.6
36.3
4.6
2.9
1.7
54.4
13.4
2.2
11.2
74.6
19.8
.7
19.1
82.9
12.5
-1.0
13.6
79.3
25.5
1.0
24.5
76.4
25.4
9.1
16.3
116.7
8.9
8.6
.3
77.6
.2
-11.4
11.6
96.1
2.9
-9.?
12.1
27
28
29
20.6
3.1
17.4
-9.7
-12.5
2.9
37.6
15.2
22.4
41.1
8.7
32.4
42.8
9.8
33.0
50.5
20.1
30.4
42.0
21.5
20.5
44.2
13.3
31.0
81.1
43.4
37.7
46.9
17.0
31.9
54.3
34.7
19.6
17.6
-14.8
32.4
30
31
32
33
-.1
.3
1.0
-.1
»
.1
1.6 v.
.1
.1
•
-3.3
.3
.2
.7
1.1
*
.5
1.1
1.7
-.2
•
-.1
3.7
.1
•
.5
-2.5
.1
1.0
1.5
-1.0
-
•
-.3
10.4
.2
-.4
-4.3
.2
.1
-.1
7.1
-.1
.2
1.6
•
34
35
36
37
38
39
40
1.6
.9
•
.7
«
1.6
*
*
.8
.6
.1
1.6
.1
•2 \
-.3
1.3
1.2 *
.1
\
*
.1
' .3
.1
\1
.5
-.4
1.9
-1.2
.3
-.4
.2
-.1
-1.2
-.7
1.6
.1
-.4
.5
6.6
2.1
2.0
3.9
-.6
-.8
-8.0
-5.1
6.5
-8.0
1.4
-.4
-2.4
5.1
-.9
-3.3
4.3
.3
2.1
2.6
7.4
-.8
1.5
6.5
-.1
-1.4
1.6
6.8
4,3
10.4
-6,3
.2
-2.3
.5
-19.8
-7.2
-11.4
1.8
-.1
-.1
-2.8
41
42
43
6.1
1.8
4.3
13.5
6.8
6.7
-5.6
-7.2
1.5
-3.7
-4.8
1.1
8.4
.5
8.0
16.4
.4
16.0
7.0
2.4
4.7
13.2
-2.5
15.7
11.3
-1.1
12.4
25.6
1.6
24.1
25.0
.8
24.?
3.6
.1
3.4
44
-.1
•
-.5
-1.7
-1.5
-1.3
-.9
-1.6
-2.2
-3.0
»
_
3
4
5
6
7
8
3.9
41.3 NET INCREASE IN LIABILITIES
DEMAND DEPOSITS* NET
38.1
U.S. GOVERNMENT
7.9
OTHER
30.2
_
22
23
24
25
26
TIME DEPOSITS
LARGE NEGOTIABLE CD«S
OTHER
27
28
29
CORPORATE EQUITIES
CORPORATE BONDS
SECURITY R.P.«S
PROFIT TAX LIABILITIES
30
31
32
33
34
liabilties
35
F.R. FLOAT
36
BORROWING AT F.R. BANKS
DEM. DEP. Or FGN. BK. AG. 37
TIME CEP. OF FGN. BK. AS. 36
39
LOANS FROM AFFILIATES
LOANS FROM FOREIGN BK. AG.. 40
interbank
MISCELLANEOUS LIABILITIES
LIAB. TO FOREIGN BRANCHES
OTHER
* discrepancy
41
42
43
44
DOMESTIC AFFILIATES OF COMMERCIAL RANKS
_
.
1
2
3
-
4
5
6
-
-
4.5
3.9
.6
-.9
-1.0
.1
.2
-.1
.3
-.6
-.2
-.4
1.3
1.7
-.4
-.7
-.1
-.6
.9
1.3
-.4
4.4
2.3
2.1
.1
1.4
-1.*
2.1
4.5
-2.3
-1.4 NET ACQ. OF FINANCIAL ASSETS
BANK LOANS N.E.C*
-1.3
LOANS TO AFFILIATE BANKS
-.1
1
2
3
4.5
4.2
.3
-.9
-1.9
1.0
.2
-.4
.6
-.6
.7
-1.3
1.3
2.2
-1.0
-.7
1.6
-2.3
.9
1.1
-.2
4.4
3.3
1.1
.1
3.3
-3.2
2.1
3.8
-1.7
-1.4 NET INr.R’ASE IN LIABILITIES
CO#M£«CXAL PAf^fc ISSUES
-1.4
•
MISCELLANEOUS LIABILITIES
4
-4.3
3.1
.1
.?
5
6
EDGE ACT CORPORATIONS AND A6'NCir.3 Or FOREIGN BANKS
1
2
3
4
5
6
7
-1.0
1.5 NET ACQ. 0? FINANCIAL ASSETS
CREOIT MARKET INSTRUMENTS
2.7
U.S. GOVERNMENT SECURITIES
.2
.
S. ♦ L. GOVT. SECURITIES
CORPORATE BONDS
.1
BANK LOAMP N.fci.Cc
2.4
OPIN-* A.*K £7 PAP2.R
_
CORPORATE EQUITIES
SECURITY CREDIT
-.2
DEM. DEPOSITS AT CQML. BANKS
1.6
TIME DEPOSITS AT COML. BANKS
-.1
LOANS TO BANKS
-2.8
MISCELLANEOUS ASSETS
-.1
8
9
10
11
12
13
-4.3
-1.9
.5
-4.3
1.9
1.5 NET INCREASE IN LIABILITIES
DEMAND DEP. IN MONEY STOCK
-2.7
TIME DEPOSITS
.5
•
DEPOSITS OF BANKS
LOANS FROM BANKS
1.4
14
15
16
17
18
1
2
3
4
5
6
7
2.5
.4
•
-.1
•
.4
-
2.7
1.3
•
*
•
1.3
-
7.7
2.7
-.1
.2
»
2.6
-
1.2
.1
-.2
-.2
_
.5
-
1.2
.6
.3
-.9
.3
1.1
"
7.5
3.3
.1
-.1
*
3.3
•
8.7
1.9
.4
.1
1.4
-
-7.8
4.5
,4
-2.1
1.2
5.0
“
17.0
5.2
.1
-.5
•
5.5
15.9
2.1
-.1
*
•
2.3
8
9
10
11
12
13
.1
.7
«
1.4
»
•
.8
•
.1
.3
.1
1.2
.1
.1
3.5
•
.
1.3
•
.1
-.4
.1
.1
-1*2
.3
.2
.8
.1
-.8
1.6
.1
.5
2.8
.
3.9
-.8
3.7
_
.3
-8.0
1.4
-2.4
-3.7
.2
-1.3
4.3
.3
2.6
5.7
- u
6*.5
-.1
1.6
6.4
14
15
16
17
18
2.5
1.0
.2
»
.1
2.7
.3
.2
.1
.2
7.7
6.6
.4
.2
.1
1.2
.3
-.1
1.6
1.2
-3.4
-.5
2.5
.8
7.5
.1
.6
1.9
4.2
8.7
-.8
-1.1
.7
6.8
-7.8
-.8
-1.4
-4.9
-5.8
17.0
2.5
.9
7.1
7.9
15.9
2.3
.4
5.0
5.7
19
20
21
1.2
.5
.7
1.9
1.2
.8
.4
.2
.2
-.2
.7
-.9
1.7
.4
1.2
.7
.6
.1
3.1
1.6
1.4
5.2
-.8
6.0
-1.5
•
-1.5
2.5
1.2
1.3
-.4
1.0
-l.S
2.7
_
-.9
-6.3
.?
2.2
.2
2.0
MISCELLANEOUS LIABILITIES
DUE TO FORilSN AFFILIATES
OTHIR
19
20
21
BANKS IN U.S. POSSESSIONS
1
2
3
4
5
6
7
8
9
10
.3
«
.1
«
•
•
•
•
•
.1
1.1
•
.2
•
•
»
.2
»
.1
.9
.5
.1
.1
«
•
•
.1
.1
•
.3
.5
.1
.3
.2
«
*
.1
.1
.1
.5
.2
.3
.2
.1
•
*
•
»
•
.3
.1
.1
«
*
«
.2
*
.1
.1
11
.3
1.1
.5
.5
.5
.3
.3
-.6
2.2
•
.3
.5
*
«
-.2
*
-.2
1.9
.3
.1
.5
.1
•
*
.4
•
.4
-.2
.3
.1
-.1
-.2
•
•
.1
.1
«
.3
.3
.1
.1
•
•
•
.1
*
*
.1
.3 NET ACQ. OF FINANCIAL ASSETS
*
DEMAND DEPOSITS ♦ CURRENCY
CREDIT MARKET INSTRUMENTS
.1
U.S. GOVERNMENT SECURITIES
•
S. ♦ L. GOVT. SECURITIES
CORPORATE BONDS
*
MORTGAGES
.1
•
HOME MORTGAGES
COMMERCIAL MORTGAGES
.1
MISCELLANEOUS ASSETS
.2
1
2
3
4
5
6
7
8
9
10
.5
2.2
.3
.3
.3
.3 NET INCREASE IN DEPOSIT LIAB.
11
.5
.2
.9
.6
*
#
.3
IV/73 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
<t FEBRUARY* 197*
‘
NONBANK FINANCE SUMMARY
NONBANK FINANCE SUMMARY
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
1971
1972
1973
I
1972
I HI
IV
I
I
IT
III
IV
PRIVATE N0N9ANK FINANCIAL INSTITUTIONS - TOTAL
.2
1.1
-.1
1.2
1.7
1.2
52.4
.9
45.9
>.4
-.1
-.1
55.2
1.0
.2
5
4.1
1.9
5.2
2.1
5.9
2.0
5.6
2.1
4.7
2.3
6.2
2.5
5.4
2.5
6.4
1.7
104.5
1.8
-.1
85.3
1.9
101.6
.1
3.0
-.1
.6
113.5
3.7
-.3
.5
100.7
2.1
.2
99.6
2.6
72.5
2.9
1.8
-2.5
68.5 NET ACQ. OF FINANCIAL ASSETS
.2
DEMAND DEPOSITS ♦ CURRENCY
TIME DEPOSITS (MSB)
-.7
S*L SHARES (CREDIT UNION)
10.7
89.2
7.7
1.4
10.9
28.8
17.2
11.0
12.2
-4.5
.3
2.4
13.8
80.7
-1.2
3.8
14.9
32.0
20.8
9.0
1.3
-6.5
.2
7.0
6.2
65.4
-6.9
3.*
13.7
21.4
20.4
9.7
3.5
-2.9
.?
3.]
8.0
60.4
3.3
3.5
15.2
9.5
14.2
6.5
8.2
-4.4
.2
4.8
CORPORATE SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
S. ♦ L. OBLIGATIONS
CORPORATE ♦ FOREIGN BONOS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
OTHER LOANS
SECURITY CREDIT
TRADE CREDIT
M I S C E LLANEOUS ASSETS
7
8
9
10
11
12
13
14
15
16
17
18
5.8 CURRENT s u r p l u s
1.4 P HYSICAL INVESTMENT
1
2
3
4
5
6
6
-.2
.1
.2
.2
7
10.7
36.6
2.1
1.2
9.8
8.6
7.2
3.8
3.8
2.8
.3
1.3
12.2
36.7
-2.2
1.0
6.9
8.6
7.6
4.8
9.9
-3.5
.4
11.3
39.8
3.3
1.8
12.2
7.6
10.1
1.8
3.1
-1.3
.5
3.6
19.3
60.8
2.5
4.1
14.9
18.4
14.1
3.3
3.5
2.5
.3
1.6
15.4
80.5
5.7
3.5
13.5
30.2
17.4
6.4
3.8
3.9
.3
2.3
9.7
73.9
.7
3.1
13.7
22.9
18.2
9.0
6.3
-4.6
.2
4.3
8.6
87.5
7.2
2.8
13.7
33.4
16.6
7.8
1.5
.3
.4
18.6
88.0
7.4
4.5
11.1
36.4
21.0
7.8
-.2
.5
.3
2.3
48.8
7.9
19.2
6.1
55.0
17.0
21.8
4.5
82.8
40.8
25.4
2.7
100.6
46.4
24.8
1.5
80.3
28.2
28.7
22
53.2
12.7
18.8
6.5
98.6
45.6
25.7
1.8
112.7
43.8
26.1
1.1
93.1
44.8
28.4
.1
95.8
31.1
29.9
1.4
66.4
4.9
28.2
2.4
66.0 NET INCREASE IN LIABILITIES
30.0
TIME ♦ SAVINGS ACCOUNTS
28.4
INSURANCE ♦ PENSION RESERVES
-1.0
CORPORATE EQUITIES (1)
19
20
21
22
23
24
25
26
27
28
29
30
7.1
.8
.2
.2
2.4
3.5
2.6
.9
13.0
1.7
4.7
6.2
4.2
2.0
-.6
1.5
1.4
-1.5
1.2
-2.7
18.8
1.7
-1.5
.3
7.6
10.8
3.6
7.2
17.4
5.6
1.4
.5
28.4
6.5
1.0
2.1
8.9
4.9
4.0
15.9
5.8
1.2
.5
5.9
2.5
2.5
25.8
2.4
.2
.6
7.9
14.7
3.3
11.4
26.4
' .6
-2.4
*
10.*
17.6
5.7
11.9
5.6
2.1
-5.0
*
2.5
5.9
4.6
1.3
CREDIT MARKET INSTRUMENTS
CORPORATE BONDS
MORTGAGE LOANS IN PROCESS
OTHER MORTGAGES
BANK LOANS N.E.C.
OTHER LOANS
OPEN-MARKET PAPER
FHLB LOANS
23
24
25
26
27
28
29
30
31
32
33
3.5
.2
4.5
-3.0
1.0
.2
5.9
1.1
-.1
6.7
4.1
.3
7.6
-4.4
.5
7.8
-2.0
-.6
4.5
SECURITY CREDIT
TAXES PAYABLE
M I SCELLANEOUS LIABILITIES
31
32
33
8
9
10
11
12
13
14
15
16
17
18
21
.1
5.4
-.3
.1
6.0
-
-
3.4
1.5
1.9
7.2
4.1
3.1
17.4
1.5
1.0
.5
9.4
5.1
.9
4.1
8.0
5.8
.4
7.0
-9.6
.5
11.4
-2.7
.5
7.8
-3.4
.6
7.4
-3.9
-.9
-1.4
6.6
.4
2.0 DISCREPANCY
34
SAVINGS AND LOAN ASSOCIATIONS
1.0
9.7
•.4
10.2
.7
7.2
2.1
.1
-.1
10
11
12
13
14
15
16
17
18
19
8.9
7.4
1.1
.2
.1
.9
.3
.9
9.3
-.2
9.9
.3
.2
-.4
3.9
4.1
.1
4.0
.1
4.4
1.0
1.0
14.1
.3
11.6
1.2
7.2
3.0
.3
2.2
30.1
.5
29.4
5.2
17.9
6.1
.1
.2
37.3
.6
36.5
4.3
24.7
7.3
.2
.2
29.3
.6
26.8
39.8
.9
38.6
19.2
7.3
.2
1.9
7.0
.2
.3
13.3
10.9
1.8
.6
-.1
1.3
28.9
28.1
35.6
32.8
2.0
1.2
27.4
20.5
6.0
-1.5
.3
7.2
.2
*
-.2
-2.1
-1.0
7.0
2.0
.7
-2.7
.1
.1
.7
-.7
•3
.2
.9
.9
.9
37.4
.8
38.6
3.5
26.7
8.2
.2
-2.0
43.6
*
41.7
8.0
24.8
8.7
.2
1.9
36.4
.6
33.4
-2.1
27.7
7.5
.3
2.4
20.0
1.0
17.1
-7.f
lS.S
37.9
32.6
4.0
1.4
.7
1.9
.1
1.2
36.0
30.3
5.6
1.0
1.5
3.1
.1
41.0
32.8
4.6
1.0
-.5
4.1
.2
3.3
-1.0
1.4
-.5
4.3
-1.7
5.6
.9 CURRENT SURPLUS
1
.?
1.7
17.2 NET ACQ. OF FINANCIAL ASSETS
.8
DEMAND DEPOSITS ♦ CURRFNCY
14.6
CREDIT MARKET INSTRUMENTS
1.8
U.S. GOVERNMENT SECURITIES
8.7
HOME MORTGAGES
3.9
OTHER MORTGAGES
.2
CONSUMER CREDIT
1.7
M I S C E LLANEOUS ASSETS
2
3
4
5
6
7
8
9
35.0
?? .3
11.8
.2
.2
11.4
.2
.6
16.6
4.6
11.8
-2.4
2.3
11.9
.?
*
17.0 NET INCREASE IN LIABILITIES
22.2
SAVINGS SHARES
-4.3
CREDIT MARKET INSTRUMENTS
-5.0
MORTGAGE LOANS IN PROCESS
-.6
BANK LOANS N.E.C.
FHLB ADVANCES
1.3
.2
TAXES PAYABLE
-1.1
M I SCELLANEOUS LIABILITIES
10
11
12
13
14
15
16
17
-.5
10.2
-2.4
11.3
9,7
.7 D ISCREPANCY
18
.7 MEMOl FHLB LOANS LESS DEPOSITS 19
MUTUAL SAVINGS BANKS
1
.2
.3
.3
.4
.4
.5
.4
.4
.5
.5
.5
2
3
4
4.6
.1
•
3.1
*
-.1
4.7
.1
.2
10.4
*
.2
11.0
.3
-.1
6.0
.1
.1
9.5
.6
-.1
9.4
.8
-.3
10.8
-.1
.2
8.7
.8
“
.1
-.8
-
5
6
7
8
9
.3
4.1
-.2
*
1 .3
.2
2.9
-.5
*
.3
.3
3.8
.2
*
1.3
.5
9.5
.4
.2
4.3
.6
9.4
.3
.5
2.8
.3
5.3
-1.0
.1
-.5
.5
9.7
.2
.8
2.1
.4
5.7
.8
.2
.5
.7
10.9
-.1
.6
1.0
.4
5.6
-.8
•
-.4
-.3
2.3
-2.9
-.3
-1.0
.2
2.4
-.4
-.1
-1.7
10
11
12
13
14
15
1.4
1 .4
.1
*
.1
.3
1.4
1.3
.1
.1
.2
•
.9
.9
.1
.2
.1
.3
1.3
2.7
.1
.2
.2
.3
3.0
2.6
.3
-.2
.1
.8
2.6
3.1
.2
-.2
1.1
.3
3.5
2.5
.2
-.1
.5
-1.1
3.7
2.9
-.2
-.1
-2.3
2.9
3.5
2.0
.5
-1.6
5.1
-1.0
1.9
4.9
.2
1.4
-1.7
1.8
2.9
2.6
.1
.4
.5
-1.1
2.1
2.^
16
17
4.2
.1
2.6
.2
4.4
.1
9.9
.1
10.2
.2
4.8
.6
9.9
.2
10.0
-.1
7.6
.8
6.4
.7
-.6
1.4
5.7 SAVINGS DEPOSITS
-.6 M I S C E LLANEOUS LIABILITIES
16
17
18
-.1
•
.1
»
-.2
-.2
1.1
.9
-2.0
-1.1
1.?
1.1 DISCREPANCY
18
3.5
.1
.5
2.8
.4
.1
2.4
4.3
.1
.4
3.9
.4
.1
3.5
4.3
«
1.8
2.5
.4
.1
2.1
-2.5
3.4
.4
. 1
2.9
2.1
«
-.7
2.8
.4
. 1
2.3
3.5
4.3
4.3
.9
2.1
.5 CURRENT SURPLUS
4.5 NET ACQ. OF FINANCIAL ASSETS
.6
DEMAND DEPOSITS ♦ CURRENCY
TIME DEPOSITS
-.9
.5
1.3
CORPORATE SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
STATE ♦ LOCAL OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
COMMERCIAL PAPER
SECURITY R P •S
M I SCELLANEOUS ASSETS
CREDIT UNIONS
1
2
3
4
5
6
7
1.1
•
-.2
1.3
•
•
1.3
1.4
*
-.1
1.6
-.2
*
1.7
1.7
.2
.1
1.5
.4
.1
1.0
2.9
.1
.2
2.6
.8
«
1 .8
3.4
.1
.4
2.8
.6
.1
2.1
2.9
-.3
3.2
.4
2.7
3.1
.2
.6
2.3
.3
.1
1.9
8
1.1
1.4
1.7
2.9
3.4
2.9
3.1
.9
(1) INCLUC
IV/73 FIGURES ARE T E N T a TIVF ESTIMATES BASED ON INCOMPLETE INFORMATION,
ET ACQ. OF FINANCIAL ASSETS
DEMAND DEPOSITS ♦ CURRENCY
SAVINGS ♦ LOAN SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
HOME MORTGAGES
CONSUMER CREDIT
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
0 FEBRUARY 1974
INSURANCE ♦ PENSION FUNDS
INSURANCE ♦ PENSION FUNOS
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
1972
1973
life
1
2
.6
.7
.9
.8
3
4
9.8
.1
9.2
•
.1
5
6
7
8
9
10
11
12
13
1.4
7.7
-.1
.2
3.9
-.7
3.2
1.2
.6
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
14
15
16
17
18
9.2
4.6
2.9
.2
1.5
9.3
4.9
2.9
.1
1.4
10.2
5.1
3.3
.1
1.7
19
-.7
.2
I
1972
I III
insurance
IV
T
II
IV
III
companies
2.0 CURRENT SURPLUS
1 .2 PHYSICAL INVESTMENT
1.6
1.0
1.9
1.3
1.7
1.1
1.7
1.0
1.9
1.3
1.9
1.2
1.0
1.3
14.8
.1
15.3
-.1
14.9
*
15.1
.1
17.0
-.3
14.3
1.2
15.?
»
14.7 NET ACQ. OF FINANCIAL ASSETS
DEMAND DEPOSITS ♦ CURRENCY
-1.2
3.6
8.1
-.2
.1
5.5
-2.1
3.2
1.6
3.5
10.1
-.2
»
7.2
-2.1
4.0
1.4
1.0
3.3
11.2
3.5
10.5
5.1
-1.6
1.0
3.5
12.9
.3
-.1
4.7
-1.3
2.7
6.6
1.0
4.6
7.6
,4
-3
5.9
-1.5
3.5
-1.2
1.0
3.1
11.?
-.e;
3.9
2.2
1.0
2.1
11.7
-.2
-.1
6.9
-2.3
4.0
3.4
1.0
2.0
13.0
-.1
•
4.6
-.2
4.6
4.0
.9
13.3
6.1
5.2
-.1
2.1
14.7
7.2
4.6
15.3
7.7
5.0
*
2.7
15.4
7.9
4.5
.1
2.9
15.4
7.7
4.4
•
3.3
16.6
7.7
5.2
.1
3.6
14.4
7.7
4.0
•
2.7
15.3
7.6
5.6
»
2.1
.7
1.0
1.0
.1
.9
.A
.9
1.4
.2
private
8.B
7.0
.5
4. A
-.7
.9
CORPORATE SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
STATE ♦ LOCAL OBLIGATIONS
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
OTHER LOANS
MISCELLANEOUS ASSETS
15.0 NET INCREASE IN LIABILITIES
LIFE INSURANCE RESERVES
7.6
PENSION FUND RESERVES
5.0
•
TAXES PAYABLE
MISCELLANEOUS LIABILITIES
2.3
1.0 d i s c r e p a n c y
FUNDS
pension
1
2
6.4
.3
6.3
*
7.1
.2
7.3
-.2
5.7
.2
7.7
.4
5.8
.7
7.3
1.1
8.2
.8
5.7
-.7
9.5
1.9
7.4 NET ACQ. OF FINANCIAL ASSETS
DEMAND DEPOSITS ♦ CURRENCY
-.2
3
4
5
6
7
8
4.7
1.1
.4
.6
»
.4
5.4
.6
-.2
.6
.1
.3
4.6
2.4
.2
2.1
.1
•
8.9
-1.6
-.3
-.7
- .6
.1
7.1
-1.3
1.0
-1.6
-.7
-.2
3.6
3.1
.7
2.8
-.4
.5
4.2
1.2
.7
1.1
-.6
-.3
7.8
-1.4
2.1
-3.1
-.5
-.2
5.0
2.5
.9
2.1
-.5
-.1
4.4
.6
.3
.9
-.4
1.2
2.0
3.9
.A
3.5
-.4
•A
2.0
5.4
.8
4.9
-.3
.2
CORPORATE SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
CORPORATE BONOS
HOME MORTGAGES
MISCELLANEOUS ASSETS
STATE ♦ LOCAL GOVERNMENT e m p l o y e e r e t i r e m e n t f u n d s
1
2
4.8
.1
5.1
-.1
6.3
.1
6.8
-.1
7.3
•
8.4
.2
7.5
.3
6.7
.3
7.3
-.3
12.5
.7
5.5
.3
8.4 NET ACQ. OF FINANCIAL ASSETS
DEMAND DEPOSITS ♦ CURRENCY
.2
3
4
5
6
7
8
9
10
1.3
3.4
.5
-.2
.6
«
2.6
.4
1.8
3.4
-.3
-.4
.2
-.1
3.1
.6
2.1
4.0
-.7
-.7
«
-.3
4.2
.8
3.2
3.7
-1.2
-.8
-.3
-.2
4.8
.3
3.0
4.3
-.2
-.1
-.1
-.2
4.6
-.1
2.6
5.4
.3
.1
.2
-.3
4.9
.4
3.1
4.2
-.4
«
-.4
-. 6
5.3
-.2
3.0
3.5
.2
.3
«
«
3.2
«
3.8
3.8
.3
.3
«
-1.1
4.3
.3
3.6
8.2
.1
-.4
.5
-.2
7.2
1.0
2.2
3.0
.4
.4
•
•
3.0
-.4
1.7
6.4
.4
.4
.1
5.2
.7
CORPORATE SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
DIRECT
AGENCY ISSUES
STATE ♦ LOCAL OBLIGATIONS
CORPORATE BONDS
MORTGAGES
OTHER i n s u r a n c e c o m p a n i e s
1
.1
-.1
.8
2.0
2.6
2.8
2.7
2.6
2.7
2.8
2.8
2.9 CURRENT SURPLUS
2
3
3.1
.1
2.9
*
5.5
.1
6.6
.1
6.2
.1
6.9
.1
6.3
.1
7.1
.1
6.5
.1
6.6
.1
7.?
.1
7.4 NET ACQ. OF FINANCIAL ASSETS
DEMAND DEPOSITS ♦ CURRENCY
.1
4
5
6
7
8
9
10
.8
1.9
-.2
1.0
1.2
*
.3
1.0
1.6
-.5
1.2
.8
•
.4
1.0
3.9
.1
1.5
2.3
•
.5
2.5
3.8
-.4
3.9
.3
«
.3
3.0
2.9
-.4
3.3
-.1
•
.3
1.9
4.7
«
3.0
1.7
*
.2
3.6
2.4
-.7
3.2
-.1
*
.3
3.2
3.6
.4
3.3
•
»
.3
3.3
2.6
-.6
3.3
.1
•
.3
1.4
4.9
-.1
3.3
1.7
.
.2
1.7
5.?
.?
3.4
1.6
•
.?
1.3
5.8
.5
1.8
3.4
•
.2
11
12
13
14
2.7
.2
•
2.5
3.9
.5
.1
3.3
3.9
.4
.1
3.4
4.1
.6
-.1
3.6
4.4
.6
.1
3.7
4.6
.6
.2
3.8
4.4
.6
.1
3.7
4.5
.6
.2
3.7
4.5
.6
.2
3.7
4.6
.6
.2
3.8
4.6
.A
.?
3.A
4.7 NET INCREASE IN LIABILITIES
CORPORATE EQUITIES
.6
TAXES PAYABLE
.3
POLICY PAYABLES
3.8
15
-.2
.9
-.8
-.6
.8
.4
.8
-.1
.7
.7
.2
IV/73 FIGURES ARE TENTATIVE ESTIMATFS BASED ON INCOMPLETE INFORMATION.
CORPORATE SHARES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
STATE ♦ LOCAL OBLIGATIONS
CORPORATE BONDS
COMMERCIAL MORTGAGES
TRADE CREDIT
.1 DISCREPANCY
1
?
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
8 FEBRUARY 1974
FINANCE N.E.C.
FINANCE N.E.C.
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTEO ANNUAL RATES
SEASONALLY AOJUSTEO ANNUAL OATES
1
1968
1969
1970
1971
1972
-1.8
-2.2
-l.l
-.1
-.3
1973
I
1972
I III
-.1
-.1
-.9
.2
-.7
.4
-.5 C
FINANCE COMPANIES
1
2
3
4
5
5.2
.1
.6
2.3
2.2
8.1
.1
.3
2.8
5.0
.9
.?
.1
.5
.1
4.4
.3
1.1
1.3
1.8
11.0
.3
4.1
3.8
2.8
10.4
.2
1.4
5.9
2.9
12.2
.3
5.3
3.6
3.1
16.6
.3
5.8
5.3
5.2
10.1
.3
1.1
6.8
1.9
10.7
.2
2.9
6.4
1.2
10.A
.?
1.8
6.4
2.2
6
7
8
9
5.7
.8
2.3
2.6
8.4
1.6
1.9
4.9
1.7
2.5
-1.1
.2
4.2
3.8
•
.4
9.1
5.4
3.6
•
8.4
1.3
4.5
2.7
10.1
5.5
5.8
-1.2
16.1
6.2
8.3
1.5
8.3
.9
5.9
1.5
8.9
1.7
4.0
3.2
8.6
.4
5.7
2.5
9.9
.2
-.4
3.9
6.1
ET ACQ. OF FINANCIAL ASSETS
DEMAND DEPOSITS ♦ CURRENCY
HOME MORTGAGES
CONSUMER CREDIT
OTHER LOANS (TO BUSINESS)
1
2
3
4
5
7.8 f
CORPORATE BONDS
2.0
BANK LOANS N.E.C.
2.3
OPEN-MARKET p a p e r
3.5
REAL ESTATE INVESTMENT TRUSTS
1
2
3
.4
.1
.2
.3
.1
.2
.2
.1
.2
.4
.1
.3
1.1
.4
.8
.7
.2
.5
1.0
.3
.7
1.3
.4
.9
1.2
.4
.8
1.3
.4
.9
.3
.1
.2
.1 PHYSICAL INVESTMENT
*
MULTI-FAMILY STRUCTURES
.1
NONRESIDENTIAL STRUCTURES
1
2
3
4
5
6
7
8
.3
•
.1
.1
.1
1.0
.1
.3
.4
.1
2.4
.5
.6
1.0
.3
2.6
.7
.7
1.1
«
5.4
1.2
1.9
1.8
.5
4.8
.7
1.5
1.9
.6
3.7
.1
2.1
1.0
.5
6.9
1.4
2.6
2.2
.6
5.1
1.1
1.6
1.9
.5
5.7
1.2
1.8
2.1
.6
6.?
1.1
1.9
2.3
.8
2.2 NET ACQ. OF FINANCIAL ASSETS
-.5
HOME MORTGAGES
.8
MULTI-FAMILY MORTGAGES
1.3
COMMERCIAL MORTGAGES
.6
M I SCELLANEOUS ASSETS
4
5
6
7
8
9
10
11
12
13
14
.7
,4
.3
.2
.1
.1
1.3
.8
.5
.2
.1
.2
2.7
1.4
1.2
.1
•
.1
3.0
.9
2.0
.1
»
.1
6.5
1.5
4.8
.5
.2
.3
5.5
1.1
4.4
.3
.1
.2
4.7
1 .*
3.3
.5
.2
.3
8.2
1.2
6.7
.4
.1
.3
6.3
1.8
4.5
.5
.2
.3
7.0
1 .9
*5.1
.6
.2
.4
6.5
.5
6.0
•
*
2.4 NET INCREASE IN LIABILITIES
.3
CORPORATE EQUITIES
.
2.1
CREDIT MARKET INSTRUMENTS
*
MORTGAGES
*
MULTI-FAMILY RESIDENTIAL
*
COMMERCIAL MORTGAGES
9
10
11
12
13
14
15
16
17
.1
-
.1
.2
-
.5
.6
*
.4
.7
.8
.4
1.5
2.5
.4
2.8
1.0
.2
.1
2.7
.2
3.5
2.6
.6
4.0
-.6
.7
3.7
.1
.2
2.5
3.?
.1
■,8
1.1
15
16
17
18
«
•
.1
.1
.1
.2
.
-
-
.2
-
CORPORATE BONOS
BANK LOANS N.E.C.
COMMERCIAL PAPER
MISCELLANEOUS LIABILITIES
18
OPEN-END INVESTMENT COMPANIES
1
-2.2
-2.2
-.9
-.6
-1.2
-1.2
-1.0
-1.8
-, 8
-1.7
-.7
2
3
3.6
.1
2.6
-.1
1.7
•
.6
.1
-1.8
«
-2.2
.3
-1.1
*
-2.6
.2
-3.0
1.6
-2.8
-.3
.6
.3
4
5
6
7
8
2.5
.9
.2
.4
.3
1.7
.9
-.5
.2
1.2
1.2
.5
.2
.7
-.4
.4
*
-.3
.6
-.3
-1.8
•
*1
.2
-.3
-2.3
-.2
.3
-.9
.3
-3.0
1.9
.6
.4
1.0
-1.0
-1.7
-.1
-.1
-1.5
-5.2
.6
1.2
-.8
.2
-2.3
-.2
.3
-2.1
1.6
-2.2
2.5
.5
.Q
1.2
9
5.8
4.8
2.6
1.2
-.6
-1.0
-.1
- .8
-2.3
-1.1
1.3
-1.5 CURRENT SURPLUS
1
-3.4 NET ACQ. OF FINANCIAL ASSETS
OEMAND DEPOSITS ♦ CURRENCY
-.4
2
3
.6
-3.6
-.6
-1.4
-1.6
CORPORATE SHAPES
CREDIT MARKET INSTRUMENTS
U.S. GOVERNMENT SECURITIES
CORPORATE BONDS
COMMERCIAL PAPER
4
5
6
7
8
-1.9 NET SHARE ISSUES
9
1
2
3
4
5
6
7
8
SECURITY BROKERS AND DEALERS
1
2
3
4
5
6
7
8
3.8
.5
-.2
.6
.8
•
-.2
2.8
-3.1
-.1
.4
.1
«
-.2
.4
-3.5
.8
-.3
.1
2.3
1.7
.6
.1
-1.3
1.3
*
.1
-1.4
-1.6
.1
.1
2.5
4.3
•
.1
.2
.2
-.1
.1
3.9
-4.3
*
*
.2
*
.2
»
-4.6
-.1
«
-1.9
•2
2.6
-.5
-1.9
1.5
6.1
«
1.8
3.8
1.0
1.1
1.7
.5
-9.3
*
-.5
-4.4
-2.6
-1.3
-.5
-4.5
. -2.6
•
1.7
2.3
.3
.4
1.7
-6.5
-3.3
•
-1.2
.8
1.8
.1
-1.2
-2.9
-2.0 NET ACQ. OF FINANCIAL ASSETS
«
DEMAND DEPOSITS ♦ CURRENCY
CORPORATE SHARES
.1
CREDIT MARKET INSTRUMENTS
2.2
U.S. GOVERNMENT SECURITIES
.5
STATE ♦ LOCAL OBLIGATIONS
1.6
CORPORATE BONDS
.1
SECURITY CREDIT
-4.4
9
10
11
3.5
1.0
2.4
-3.0
-1.0
-2.0
1.0
1.9
-1.0
1.1
.7
.5
4.1
3.9
.2
-4.4
-4.1
-.3
-.4
.5
-.8
5.8
4.5
1.3
-9.6
-8.5
-1.1
-2.7
-1.4
-1.3
-3.4
-4.0
.6
-2.0 NET INCR. IN LIAB.-SEC. CREDIT 9
10
FROM BANKS
-2.6
CUSTOMER CREDIT BALANCES
11
.6
IV/73 FIGURES ARE T E N T a TIVF ESTTMATFS BASED ON INCOMPLETE INFORMATION.
8 f£5IRUARY *97*
®?ST OF THf WORLD
jSgST OF THE WORLO
13
13
S’CTCR STATEMENTS O' SaVTNG AND INVESTMENT
♦BILLION? OF DOLLARS)
S EASONALLY ADJUSTED ANNUAL BATES
__________ _________________________________________ ____ _____ .......
SEASONALLY ADJUSTED ANNUAL RATES
.............
1968
-
1969
^
1970
1971
1972
1973
i9 7 ?
I III
19 t 3
(
IV
I
I
IT
I I I _____ I V ^
89.7
89,7
3 0
3.0
*
¥7 ,C
94,4
3 3
.5
REST OF THE WORLD
■a
IJ»
SB »
4fl*1
A
2 *!
5
ee K
53*6
If ’J9
l*°
?
>:l ,J:S
5
u *
**•!
, *
l,i
"
\t
:l
ul
}?
*
:2
»
~:i
16
^ a
3.4
19
2.3
g
*:S
’I
. ' I■.
*5:
:l
feA 3
65*5
1*6
M
2 *8
73.K
78.1
3 7
8 I
8,4
101.2
96.7
3 6
-1.0
1,0
74.0
77*7
11 *
11 4
IT
11 n
U 3
,;S
lit »:t d:l
:l
>
„•!
7.6
*
1:1
*:*
.1
1:1
7 »
!•?
3 0
?'!
1.3
ij’e
K
1
S3
79.7
83*2
3 5
7lo
14 7
19 5
-1.1
~1
>:*
-xT»
I.*
4.3
b!s
5.2
31.5
«:!
t
:
-:i
-.1
r.i
v.\
•
.!
.1
:i
— 1
.:i
-.1
- 0
8.0
-5.6
«
-6.8
3.1
3.1
7 .6
T.6
3,6
3.®
7.9
-6.9
-4.1
.9
1.0
4.0
2
*:J
-.:I
J
l«
i:S
:?
K
#,3 0
59%
Vi
*?
1
l:s
4:1
-N
.7
lit
97,0
3.*
-4.0
-2.1
i:>
t.i
-1.5 NET FINANCIM. INVESTMENT
«..«
>:*
•»
3.1
>•»
.5
-«.»
3.4
*11.1
3.0
-5.5
3 .3
i.»
:
.
UJ.3
w.a.
105.6
U.S. IMPORTS
4.4 TRANSFER RECEIPTS FROM U.S.
-3.6 CURRENT ACCOUNT BALANCE
^
(U.S. BALANCE. SIGN REVERSED)
*
£ .""t??1*1-**$ETS I
U.S. OEM. OER. ♦ CURRENCY
« . * . « « «»o«it.
*
»
U.S. CORPORATE SNARES
CREDIT M R K E T INSTRUNCNTS
11
11
S
r.»
.3
iii
-.2
:♦
•
-.1
•
-.3
.7
1.0
2.2
c.c
3.9
10.6
*w.
9.3
6.8
-3.3
-1.1
2.«
l.R
.J
W
K
5:5
2-:*
9 -2
7:5
ll:t ^ . ♦rNfT
^ rIHTa .POSITION
L{saiS“ 8
•
.7
i:i
S
2.1
.3
-2.5
4-1
-1.7
— Z
!:!
— *
24
25
26
27
28
.2
2.9
1.1
-.2
2.1
.5
2.9
1.0
-.6
2.4
.1
3.0
.9
•
2.1
•
5.7
.9
2.6
2.1
-.4
3.8
1.0
2.4
.4
-.1
6.9
1.0
3.2
2*8
-.3
2.4
-.5
3.3
-.3
-.8
6.1
1.0
2.5
2.6
-.7
15.0
.5
11.3
3.2
-.2
7.3
.7
3.0
3.6
29
30
.2
.4
-.2
.0
•
1.0
•
.5
.1
.6
-.2
-.5
•
2.0
.2
-.3
-.2
-l.l
31
32
33
34
35
1.9
.1
.5
1.1
.2
2.7
.2
-.5
2.2
.7
3.7
.2
•S
3.6
-.7
4.6
.3
!.♦
3.8
-.8
4.0
.3
3.6
1.4
-1.2
7.2
.3
3.5
2.0
1.4
7.3
.2
6.9
2.6
-2.5
1.8
.5
-l.l
1.5
.9
12.0
.3
S.9
6.7
-.9
36
-.5
-2.3
-1.2
-10.8
-3.1
-4.8
-3.4
-7.7
-16.5
.ccert.nces
*
:s
23
SECURITY CREDIT
trade credit
y MISCELLANEOUS
^
L U B ,LASSETS
1 T jtg T0
«
,
1tl'S S
IB
11
s
-l.l
.9
.2
4.5
2.2
-.3
2.7
FORCItM CORRORATE SHARES
CREDIT MARKET INSTRUMENTS
CORPORATE BONOS
BANK LOANS N«E*C«
OTHER LOANS
24
25
26
27
2B
-.5
-1.6
•
.4
-.2
•3
SECURITY OEBT
TRADE OEBT
29
90
4.2
.3
7.5
1.6
-5.2
5.9
•
.3
-.2
5.7
6.7
.8
•1
-•2
6.0
MISCELLANEOUS LIABILITIES
USB EQUITY IN IBRO* ETC.
FBN. CURR. MELD IN U.S.
U*S« OIR. IMV. ABROAD<2)
OTHER
31
32
33
34
3S
1.6
-2.A
-2.1 DISCREPANCY
(2) NET OF U.S. SECURITY ISSUES IN FOREION NARKETS TO
FINANCE U.9. INVESTMENT a b r o a o .
IV/73 FIGURES ARE TENTATIVE ESTIMATES 8ASED ON INCOMPLETE INFORMATION.
»
16
it
(1) CONSISTS ONLY OF NET PURCHASES FROM U.S.
EXCLUOES ACQUISITIONS FRON OTHER SOURCES.
3
4
5
36
8 FEBRUARY 197*
MONETARY AND INSURANCE RESERVES
MONETARY AND INSURANCE RESERVES
GOLO. OFFICIAL FOREIGN EXCHANGE* TREASURY CUORENCY, AND INSURANCE RESERVES
(BILLIONS OF DOLLARS)
lU
SEASONALLY AOJUSTED ANNUAL RATES
1968
1969
1970
14
SEASONALLY ADJUSTEO ANNUAL RATES
1971
1972
1973
1972
1
| III
IV
I
1I
I
II
1973
III
IV
GOLO ANO OFFICIAL f o r e i g n e x c h a n g e HOLDINGS (1)
1
.9
1.3
-3.3
-3.1
-.7
-.2
-.5
2
3
4
-1.2
.4
-1.6
1.0
1.0
-
-.8
-1 .2
.4
-1.3
-.7
-.6
-.6
•
-.5
*
•
“
•
•
5
2.1
.3
-2.5
-1.7
-.2
6
7
8
1.2
.7
.5
-.7
-.7
-.1
-?.2
-.4
-1.7
-.4
-.1
-.2
9
10
11
.9
.9
•
1.0
1.0
•
-.4
-.4
•
-1.4
-1.3
•
-.9
-.3
.
_
-
-
-
-.2
-.5
-.3
-.9
•
-.2
.2
-.2
•
-.2
-.5
-1.0
.4
-.3
-.6
.3
-.9
-.2
-.8
-.1
-.1
•
•
•
•
.1
.1
•
.1
•
•
.1
.1
-.1
.1 TOTAL U.S. RESERVES
1
•
-
-
I .S. GOLO STOCK AND SOR«S
W.S. G O V T . — EX. STAB. FUND
M O N ETARY AUTHORITIES (2)
2
3
4
.1
.1 U.S. FORE I G N EXCHANGE POSITION
_
O FFICIAL FGN. CURRENCY HLOGS
_
TREASURY
M O N ETARY AUTHORITIES
-
5
.1
•
•
•
_
_
-
-
•
•
-.1
,1
.4
.4
-.1
.8
,*
.3
.3
.3
.1
.1
.1
NET IMF P OSITION
U.S. GOVERNMENT ASSET
MON E T A R Y AUTHORITIES
6
7
8
9
10
11
TREASURY CURRENCY ANO SDR CERTIFICATES
1
2
3
.4
.2
.2
.3
.1
.2
.6
.7
-.1
.5
.5
*
.5
.7
-.2
•4
•4
.1
.4
.5
-.1
.4
.5
-.1
.3 TOTAL U.S. GOVT. LIABILITY
.3 MONETARY AUTHORITIES ASSET
• UN A L L O C A T E D ASSETS
1
2
3
INSURANCE AND PENSION FUNO RESERVES
1
2
3
4.6
* ■
4.6
5.0
.1
4.9
5.2
.1
5.1
6.2
.1
6.1
7.3
.1
7.2
7.7
.1
7.7
8.0
.1
7.9
7.7
.i
7.7
7.7
.1
7.7
7.8
.1
7.7
7.7
.1
7.*
LIFE INSURANCE RESERVES 1
7.7 NET CHANGE IN LIABILITIES
.1
U.S. g o v e r n m e n t
7.6
LIFE INSURANCE COMPANIES
4
4.6
5.0
5.2
6.2
7.3
7.7
8.0
7.7
7.7
7.8
7.7
7.7 NET CHANGE IN ASSETS CHH)
5
6
7
8
9
10
15.5
1.3
14.2
2.9
6.4
4.8
15.8
1.5
14.3
2.9
«.3
5.1
19.1
2.4
16.7
3.3
7.1
6.3
22.1
2.8
19.3
5.2
7.3
6.8
20.7
3.2
17.6
4.6
5.7
7.3
11
15.5
15.8
19.1
22.1
20.7
P ENSION FUNO RESERVES!
NET CHANGE IN LIABILITIES
U.S. GOVERNMENT
INSURANCE SECTOR
LIFE INSURANCE COMPANIES
23.1
2.1
21.1
5.0
7.7
8.4
20.8
3.0
17.8
4.5
5.8
7.5
22.4
4.0
18.4
4.4
7.3
6.7
22.2
1.4
20.8
S.2
8.2
7.3
26.6
4.4
22.2
4.0
5.7
12.5
21.4
.8
20.6
5.6
9.5
5.5
22.3
.1.5
20.8
5.0
7.4
8.4
23.1
20.8
22.4
22 .2
26.6
21.4
22.3 NET CHANGE IN ASSETS (HH)
private
1
2
3
*
pension funds
S. ♦ L. GOVT.* RTR. FUNDS
4
5
6
7
8
9
10
11
INTERBANK CLAIMS
1
3.6
2.0
4.5
5.6
2.0
5.1
7.0
-16.7
17.1
4.1
30.1
-31.0 NET CHANGE IN LIABILITIES
1
2
3
.8
1.3
.2
•1
2.1
-.3
3.6
.5
-2.1
1.1
1.1
2.1
-5.9
5.6
-4.6
.8
2.9
2.0
-2.9
-5.3
22.0
. 5.6
-17.5
6.3
MONET. A U TH.— MEM. BANK RES.
— vault cask
2
3
8
9
10
1.6
1.6
.1
—
•
.7
-
1.6
1.6
-- .
.6
.1
.8
-
2.7
2.5
1.0
.1
.1
1.2
.1
1.5
1.6
-.2
.3
.1
1.3
•
3.0
.5
1*6
-.4
.2
-1.2
.3
1.8
-.1
-1.9
-.4
.5
1.6
.1
7.3
6.6
4.1
— .6
-.8
3.9
“
-12.9
-8.0
1.4
-.4
-2.4
-8.0
1.4
12.2
5.1
-4.3
2.1
2.6
4.3
.3
12.4
7.4
.7
-1.4
1.6
6.5
-.1
2.5
6.8
14.6
-2.1
.5
-6.3
.2
-19.8
-19.8
-18.7
-.1
-2.8
1.8
-.1
4
C O M MERCIAL BANKING— TOTAL
CO M MERCIAL BANKS
5
TO MONETARY AUTHORITIES
6
L O ANS FROM AFFILIATES
7
L O ANS FROM FGN. BK. a G.
8
DEM. DEP. OF FGN. BK. AG 9
TIME DEP. OF FGN. BK. AG 10
11
•
.1
.2
-.1
2.5
1.9
.7
-4.9
7.1
5.0
-4.3
12
3.6
2.0
4.5
5.6
2.0
5.1
7.0
-16.7
17.1
4.1
30.1
-31.0 NET CHANGE IN ASSETS
12
13
14
15
.9
.9
•
•
•
•
1.0
.8
.2
-.2
.1
-.3
1.6
-.4
1.9
■1.9
•1.2
-.7
4.1
2.1
2.0
1.4
-5.1
6.5
-4.3
-.9
-3.3
.7
-.8
1.5
14.*
4.3
10.4
-18.7
-7.2
-11.4
M O N ETARY AUTHORITIES
F.R. FLOAT
L OANS TO MEMBER BANKS
13
14
15
16
17
18
19
20
2.7
2.1
.8
1.3
•
2.0
.4
.2
,1
.1
3.5
2.0
2.1
-.3
.2
5.8
4.0
3.6
.5
-.1
.4
1.5
-2.1
1.1
2.5
7.0
5.2
1.1
2.1
1.9
3.0
.4
-5.9
5.6
.7
-18.1
-8.7
-4.6
.8
-4.9
21.4
12.0
2.9
2.0
7.1
3.4
-3.2
-2.9
-5.3
5.0
15.4
23.3
22.0
5.6
-4.3
-12.3
-11.3
-17.5
6.3
•
16
17
18
19
20
21
-
22
23
24
25
.7
.7
•
22
23
24
25
4
5
6
....
•
FOREIGN BANKING AGENCIES—
D E P OSITS OF BANKS
.6
.1
.3
-.4
-.4
-.6
-.4
2.1
-1.4
-2.3
-.1
C OMMERCIAL BANKING— TOTAL
COMMERCIAL BANKS
MEM B E R BANK RESERVES
VAULT CASH
D EPOSITS AT FGN. BK. AG.
BANK AFFILIATES— LOANS
TO AFFILIATE BANKS
1.0
.8
*
.1
1.4
1.2
.1
.1
1.5
1.3
•
.1
-.7
-1.2
.3
.2
2.2
1.6
.1
.5
3.1
3.9
-.8
-9.0
-8.0
1.4
-2.4
7.2
4.3
.3
2.6
8.0
6.5
-.1
1.6
-5.5
-6.3
.?
.5
-1.0
1.8
-.1
-2.6
F O R EIGN BANKING AGENCIES
D EMAND DEPOSITS AT BANKS
TIME DEPOSITS AT BANKS
LOANS TO BANKS
(1) LINES 1 ♦ 2 EXCLUDE INITIAL ALLOCATION OF SOR*S OF *867 MILLION
IN JANUARY 1970, *717 MILLION IN JANUARY 1971. AND *710 MILLION
IN JANUARY 1972. TRANSACTIONS IN SOR»S ARK IN LINE 2. ALSO
EXCLUDED FROM THE TABLE ARE REVALUATIONS OF FOREIGN CURRENCY
HOLDINGS. GOLD, SD»«S* AND IMF POSITION. THE£t ALLOCATIONS AND
REVALUATIONS ARE INCLUDEO IN TABLES ON OUTSTANDINGS.
(2) TRFASURY GOLD STOCK.
IV/73 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATTON.
U
21
fc FEBKUARY 197*
MONE> AND DEPOSITS SUMMARY
MONEY AND DEPOSITS SUMMARY
15
HONEY STOCK ANl' TIME AND SAVINGS ACCOUNT 5
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1969
1966
1970
1971
SEASONALLY ADJUSTED ANNUAL RATES
1972
1973
I
1972
1 III
IV
I
1
1973
I
IT
III
IV
DEMAND d e p o s i t s AND CURRENCY
39.4 NET CHANGE IN ASSETS
1
14.8
8.2
U.3
17.4
20.4
15.8
20.6
33.2
20.3
15.5
-12.n
2
3
4
5
6
7
8
9
16.0
15.4
12.3
1.9
-.2
.9
.5
.6
7.6
7.4
1.5
2.7
1.4
-.3
2.1
.3
11.8
11.6
->.5
.5
-1 .6
1.0
2.2
.2
14,3
14.0
10.9
.8
-1.0
1.0
2.3
.3
20.0
18.4
12.8
.2
1.8
1.9
1.7
1.5
17.3
15.8
13.0
•6
.2
2.1
-.1
1.5
22.0
20.9
14.5
-.6
1.7
3.1
2.2
1.2
24.2
23.5
10.1
3.5
.5
3,9
*5
.7
4.5
6.3
13.5
-3.8
-1.0
2.4
-4.7
-1.8
24.6
22.1
10.1
2.5
2.4
2.5
4.6
2.4
9.6
7.4
8.4
1.2
-3.4
2.8
-1.6
2.?
10
-1.2
.6
2.5
3.1
.4
-1.5
-1.5
9.1
15.8
-9.0
-21.6
11
12
13
14
IS
14.8
1.5
-1.0
.1
2.4
8.2
3.3
.5
-.1
2.8
14.3
3.1
-.4
•
3.5
17.4
4.4
.9
.1
3.4
20.4
4.0
-.3
-.1
4.4
15.8
3.2
-.5
-.1
3.8
20.6
-4.2
-2.5
-.2
-1.5
33.2
8.7
•
.5
8.2
20.3
8.9
7.2
.3
1.4
15.5
13.0
2.3
•
10.7
-12.0
-13.0
-12.4
.3
-.8
16
17
18
19
13.3
-.2
.5
13.0
4.9
•
.4
4.5
11.2
2.9
.2
8.1
13.0
2.2
.2
10.6
16.4
.7
1.6
14.0
12.6
-1.0
1.6
12.0
24. B
1.0
1.4
22.3
24.5
9.1
.2
15.2
11.4
8.6
-2.1
4.9
2.6
-11.4
2.5
11.5
' 1.0
-9.2
l.o
8.3
35.4
7.9
3.9
23.6
48.1 NET CHANGE - TOTAL
30.6
27.5
19.e
2.5
3.1
.7
1.4
3.1
8.7
MONEY STOCK
DOMESTIC SECTORS
HOUSEHOLDS
NONFINANCZAL BUSINESS
S. ♦ L. g o v e r n m e n t s
FINANCIAL SECTORS
MAIL FLOAT
REST OF THE WORLD
U.S. g o v e r n m e n t d e p o s i t s
39.4 NET CHANGE IN BKB. SYSTEM LlAB
MONETARY AUTHORITIES
4.0
.9
U.S. GOVT. CASH ♦ DEPOSITS
F OREIGN DEPOSITS
-.8
CURRENCY
3.9
COMMERCIAL BANKING
U.S. GOVERNMENT DEPOSITS
FORE I G N DEPOSITS
P RIVATE OOMESTIC
TIME DEPOSITS AND SAVINGS ACCOUNTS
1
33.4
-1.5
^4.9
82.2
88.7
79.2
86.5
86.6
126.7
82.4
59.7
2
3
4
5
20.7
3.1
17.4
.2
-9.5
-12.5
2.9
.2
38.0
15.2
22.4
.4
41.4
8.7
32.4
.3
42.3
9.8
33.0
-.5
51.0
20.1
30.4
.6
40.9
21.5
20.5
-1.1
42.8
13.3
31.0
-1.4
82.0
43.4
37.7
.9
49.3
17.0
31.9
.4
54.*
34.7
19.6
.5
18.1
-14.8
32.4
.5
6
7
8
9
10
11
17.4
.4
.1
3.2
•
-.3
-2.0
-2.4
-.2
-5.9
-.1
1.1
27.5
1.7
.3
1C.0
.2
-1.7
29.8
3.6
.1
7.2
.2
.5
29.8
3.1
.1
6.8
-.1
2.6
34.6
' 7.8
*
6.1
.1
2.6
31.1
1.8
.5
5.1
-.1
2.5
27.3
1.2
•
10.4
-.3
4.3
48.7
16.8
.7
10.9
.2
4.8
33.2
8.4
-.2
4.5
•
3.4
29.*
12.*
— .6
12.1
•
.6
26.6
-7.6
-•1
-3.1
1.7
12
13
14
15
16
17
12.7
4.2
1.1
7.4
7.6
-.2
7.9
2.6
1.4
3.9
4.0
-.1
17.0
4.4
1.7
10.9
10.8
.1
40.8
9.9
2.9
28.1
27.9
.2
46.4
10.2
3.4
32.8
32.4
.4
28.2
4.8
2.9
20.5
20.8
-.3
45.6
9.9
3.1
32.6
32.0
.6
43.8
10.0
3.5
30.3
29.8
.5
44.8
7.6
4.3
32.8
32.5
.4
33.1
6.4
4.3
22.3
20.5
1.8
4.9
-.6
.9
4.6
7.1
-2.5
30.0
S.7
2.1
22.2
22.9
-.7
18
30.3
6.0
44.4
70.5
75.8
63.0
76.1
70.6
93.1
64.5
37.?
IV/73 FI6URES ARE TENTATIVF ESTIMATES BASED ON INCOMPLETE INFORMATION.
COMMERCIAL BANKING LIABILITY
LARGE N EGOTIABLE CD»S
other
at
commercial
banks
at f o r e i g n b an k i n g a g s .
A COUIREO BY*
H OUSEHOLDS
CORPORATE BUSINESS
U.S. GOVERNMENT
STATE ♦ LOCAL GOVERNMENTS
MUTUAL SAVINGS BANKS
F O R EIGN
AT SAVINGS INSTITUTIONS
M UTUAL SAVINGS BANKS
CREOIT UNIONS
S AVINGS ♦ LOAN ASSNS.
HELD BY* HOUSEHOLDS
CREDIT UNION?
MEMOl TOTAL OF HOUSEHOLDS,
57.3
TIME ♦ SAVINGS ACCOUNTS
8 FEBRUARY 1974
MONEY STOCK RELATIONSHIP
MONEY STOCK RELATIONSHIP
RELATION OF F/F MONEY STOCK DATA TO DAILY AVFRAGE SERIES
(BILLIONS OF DOLLARS)
16
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY AOJUSTEO ANNUAL OATES
1972
I
1972
I III
1973
I
I
IV
1973
I
IT
III
4.5
9.A
-.P
10.4
-5.7
7.?
1. TOTAL MONEY STOCK
c h a n g e s * s .a . q t r l y r a t e *
F/F DEMAND DEP. * CURRENCY
DAILY AVERAGE (DAMS)
TOTAL DIFFERENCE
1
2
3
2.7 TOTAL OIFF• AT QUARTERLY RATE
ARISING FROM— DATA DIFF.
-5.0
TIMING DIFF*
13.3
SEASONALS
-5.7
4
5
6
7
net
1
2
3
4
5
4
7
7.6
7.2
.5
11 *8
14.3
13.9
.4
20.0
12.5
-.7
20.4
-.4
17.3
14.8
2.5
.s
-.7
.3
-1.3
.3
.4
-.4
.5
.3
-.4
- 2.1
2.5
.4
-.6
1.1
•
22.0
21.6
10.0
-.2
-5.5
24.6
30.0
-5.4
-.1
-1.4
4.9
-9.6
3.3
-1.4
-.5
3.7
-4.6
.4
.1
-4.6
1.9
-8 .2
6.4
1.8
1.0
.8
24.2
24.4
.3
11.2
-6.7
2.6
1.0
30.6
20.0
10.6
II. DEMAND DEPOSITS
— -----------
--------- ------ ------------------------------------------------- MET CHANGE. S.A. OTRLY RATE*
1
*3
».»
a.3
*.*. 2 - 1 .9.5
2
♦
2
j
.*
*
:S
t
I
•
,J
*
!
»».»
»».*
.5
-.5
-l.S ,
.,:J
- .*
4
:i
.*.1
t
.*
9
.2
A
m
.j
.3
V
-1.*
13.S
>*•!
3.4
S.«
US
«.•
*•*
-.5
-.4
3.x
.4
-3-*
i.o
-*.«
**.3
4.6
«:»
-3.J
4.9
•».?
*•»
*3
UO
•*.»
*:*
.3
»
*3
.1•
2.2
1.2
.•
3.1
-?.4
*•
-U7
3.*
*•*
-2.6
1.6 J
.J
-.8
i.o
-».i
«,4
•
-UG
*•*
’3.6
**!
1*0
- 3.6
* 'l r"
DIFFEHENCC
DIFFERENCE
I
3
J 0 JBIFFEHE"Ce
U$U#
-5.0*!eS
OATA
i3.« t w i n . o i r w E N c t
s
s
*
»*>
3.1
*.*
tS
-*.«
2.5
l.«
1.9_
3
FLOWS VS. LEVELS
ONE-DAY VS. DAILY AVERAGE
SEASONAL BALANCE ADJUSTMENT
1
»
9
10
III. CURRENCY
-------------------— —
1
2
*
2.t
2*6
.J
— .
3.5
3.0
I?
3.4
3.3
-11
-
nET CHANGE# S.A. OTRLY RATE*
4.4
4.3
.1
3.G
4.7
-.9
-.4
1.0
-1.4
2.1
1.6
.5
.4
1.1
-.7
2.7
1.4
1.3
-.P
.*
-UO
1.0
1*4
-.4
4
,*
.5
-.1
•
-.9
- 2.4
US
-.9
1.6
-2.«
.4
*
i
J
#
.
*
.1
I
.
1.0
!
.9
-.9
•
-.9
.1
-.3
-.4
1.0
.1
.P
.1
-.6
.»
-.9
•
I.
I
.
I
.
.
“
Money
Part
I
Stock
it
.1
*.4
.,1
F/F
£AMS
DIFFERENCE
TIMING DIFFERENCE
I*
DIFFERENCE
SEASONALS
rtOKt VS. LEVELS
ONE-DAY VS. DAILY AVG*
SEASONAL BALANCE AOJ.
Relationship
line
I
2
Line i of page 15.
Daily averages in this table are increments in morrti. averages from last m o n t h of preceding quarter to
3
4
5
6
7
1-2.
5 ♦ 6 + 7.
See Part II, line 5.
Part II, line 6 + Part III, line 4.
Part II, line 7 + Part III, line 5.
last m o n t h of this quarter.
"Seasonal11 here m e a n s dollar excess of seasonally adjusted flow
over unadjusted flow.
II
I
5
6
Lines 14 + 18 + 19 of page 15 at quarterly rates.
Differences between money-stock concept of d e m a n d deposits derived fro m last preceding all-bank total
(either last W e d n e s d a y of quarter or Call Report) a n d figure for that o n e day, e.g., M a r c h 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 a n d average for last m o n t h of quarter.
7
.8
Quarterly increments in this difference.
8 + 9 + 10.
Difference in adjustment method: seasonal in daily-average series (month average) adjusted as flows less
9
10
seasonal in published daily-average series.
Seasonal in F/F d e m a n d deposit (based o n net c h a n g e from last day of o n e quarter to last day of next)
less seasonal in daily average adjusted as flows.
Adjustment to seasonal needed as part of the balancing of ail seasonally adjusted sources a n d uses of funds
in the flow-of-funds matrix.
Ml
5
5-9
N o statistical difference between the two series.
In unadjusted data, only difference is between one-day
figure for e nd of quarter a n d three-week average.
Correspond to lines 7 through 10 in Part II.
1
2
3
4
5
*
7
8
8 FEBRUARY 1974
U.S. GOVT. SECURITIES
SECURITIES
U , S * 6 0 V T * SECUHITIES
,,
U.S. GOVERNMENT SECURITIES MARKET SUMMARY
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATLS
SEASONALLY ADJUSTED ANNUAL RATES
1968
1969
1970
1971
1972
1973
|
1972
I III
1
2
3
4
16.7
10.3
,4
9.9
5.5
-1.3
21.1
12.9
.3
12.6
29.9
26.0
2 .4
23.6
23.6
13.9
3.3
10.6
29.0
8.3
3.8
4.4
15.6
6.4
3.3
3.1
38.8
28.1
3.1
25.0
5
g
7
8
6.4
1.5
1.7
3.2
6.8
-.4
-1.9
9.1
CO
3. <3
.6
- 1.1
4.3
9.7
2.0
1.5
6.2
20,7
.6
1.0
19.1
9.3
2.2
2.5
4.6
9
10
11
12
13
14
16.7
,i
-. 1
~.l
21.1
-.1
1.7
1.9
-.2
5.0
c * .9
-1.5
"1.5
-.1
ft.6
23.6
«
-1.4
-1.3
-.1
.3
29.0
*
1.3
1.3
*
9.4
15.6
3.8
5.5
-1.3
-.2
-.*i
.3
4.?
15
16
17
-.5
-1.7
1.2
- 1.8
-2.2
.4
9.1
7.8
1.3
26.3
13.9
12.4
8.4
2.3
6.2
18
13.3
4.6
5.4
-3.5
16.3
4.1
3.3
-.2
1.0
-.9
-.3
8.2
17
IV
I
I
1973
I
II
III
44.2
30.1
3.9
26.2
25.1
1.4
3.6
-2.1
18.9
-12.3
1.9
-14.3
10.7
1.6
3.7
5.3
14.1
.4
2.3
11.4
23.6
-.7
.5
23.7
-5.1
-4.9
-.1
-7.8
38.8
*
-4.1
-4.1
•
-.6
44.2
•
-2.1
-2.0
-.1
20.3
-.3
-6.0
5.7
13.8
-.9
14.7
7.7
11.8
-4.2
18.5
14.7
19.6
3.8
4.1
11.7
2.7
3.3
-3.9
3.4
27.6 TOTAL NET ISSUES
TREASURY ISSUES
13.8
H O U SEHOLD SAVINGS BONDS
5.9
TREAS. EXCL. SAVINGS BONDS
7.9
1
2
3
4
31.2
1.3
1.4
28.5
13.8
1.3
-.3
12.9
5
6
7
8
25.1
«
1.7
1.7
•
3.9
18.9
•
4.2
4.2
1.0
27.6 NET ACQUISITIONS. BY SECTOR
U.S. GOVT. (AGENCY SEC.)
SPONSORED CREDIT AGENCIES
1.5
TREASURY MARKETABLE
1.5
FHLB SPECIAL ISSUE
FEDERAL RESERVE SYSTEM
12.3
29.8
-8.1
37.9
-10.7
- 10.6
-.1
-15.1
-13.4
- 1.8
-5.0
8.1
-13.0
35.8
-3.7
30.3
26.8
18.8
TOTAL PRIVATE DOMESTIC
18
20.2
3.1
14.8
2.3
-.9
3.9
-11.4
6.7
26.8
3.6
11.1
12.2
36.6
1.9
11.5
23.1
16.1
5.V
5.2
5.3
PRIVATE DOMESTIC NONFINAN.
SAVINGS BONDS (HH)
TREAS. EXCL. SVGS. BONDS
AGENCY ISSUES
19
20
21
22
19
20
21
22
8.0
.4
4.3
3.3
16.8
-.4
10.5
6.7
-8.3
.3
- 10.8
2.2
-13.0
2.4
-10.9
-4.5
23
24
25
26
5.5
.4
5.3
-.2
12.2
-.4
9.8
2.8
-7.7
.3
-10.7
2.7
-12.7
2.4
- 1 1 •7
-3.5
4.4
3.3
1.5
-.5
14.9
3.8
2.6
8.4
-1.3
3.3
-5.8
1.3
15.5
3.1
12.0
.4
1.2
3.9
-8.0
5.3
23.7
3.6
1 C .6
9.5
27.6
1.9
8.1
17.6
6 .C
5.9
-.3
1.2
27
28
29
.3
-.5
.8
-2.3
-2.8
.5
.3
.2
.1
2.0
2.0
.1
-2.4
-3.1
.7
3.0
1.3
1.6
3.6
3.1
.5
- 1.0
-2.2
1.2
.9
-.6
1.5
5.1
3.7
1.4
3.3
1.5
1.8
2.5
.7
.1.3
30
31
32
2.2
-.5
2.7
6.9
3.5
3.3
- 1.0
-.4
-.6
- 2.2
- 1.2
- 1.1
2.1
1.4
.7
1.8
.1
1.7
.4
- 1.2
1.7
5.7
5.0
.7
-2.9
-2.9
-.1
-2.0
-3.3
1.3
5.6
1.9
3.7
6.7
4.6
2.0
33
34
35
3.3
2.1
1.2
- 10.0
-9.7
-.3
10.4
6.9
3.5
6.9
3.1
3.8
6.5
2.4
4.1
- 1.8
-8.5
6.6
4.8
3.1
1.7
8.3
1.9
6.4
- 10.6
-11.9
1.3
4.7
-5.3
10.0
-.9
- 10.6
9.7
-.5
- 6.1
5.6
36
37
38
2.1
.3
1.7
-2.2
-3.9
1.7
3.3
.7
2.6
2.5
-1.4
3.9
5.7
1.8
4.0
.7
-.8
1.6
7.2
2.6
4.5
7.4
6.3
1.1
7.7
2.1
5.6
- 1.2
-2.2
1.0
-6.9
-4.4
-2.5
39
40
41
.7
.4
.4
.3
- 1.0
1.3
1.2
-.4
1.5
5.2
1.4
3.9
4.3
.9
3.4
«
- 1.0
1.0
4.0
-.1
4.1
3.5
3.4
.1
8.0
4.1
3.9
-2.1
-1.9
-.2
42
43
44
-.2
- .6
.4
-.5
-.6
.1
.2
-.2
.4
.4
•
.4
.3
-.1
.4
- 1.0
-.6
-.4
.2
•
.2
.8
*
.8
-.1
-.5
.4
45
46
47
*
»
*
-.2
-.1
-.1
.4
.3
.1
.8
.3
.5
.6
.4
.2
.4
.2
.2
.3
.2
.2
.4
.2
.2
48
49
50
-.1
-.2
.2
-.3
-.3
•
.1
-.1
.1
-.2
-.2
.1
-.2
-.3
*
*
-.2
.3
-.2
-.2
-
51
52
53
.4
.4
.1
-.2
-.4
.2
.2
-.1
.3
-.3
•
-.3
1.0
.9
.1
.7
.3
.4
54
55
56
.5
-.2
.6
-.3
-.4
.2
-.7
-.7
•
- 1.2
-.8
-.3
-.2
-.1
-.1
57
58
59
-.2
-.4
.1
-.5
-.5
«
.1
-.1
.1
-.4
-.2
-.2
60
.2
-.5
.2
61
.8
•
1.7
OTHER
BUOGET AGENCY ISSUES
LOAN PARTICIPATIONS (1)
SPONS. AGENCY ISSUES (2)
FOREIGN
s h o r t -t e r m
marketable
OTHER
15
16
17
23
HO U SEHOLDS
24
SAVINGS BONDS
TREAS, EXCL. SVGS. BONDS 25
26
AGENCY ISSUES
CORP O R A T E BUSINESS
t r e a s u r y ISSUES
AGENCY ISSUES
27
28
29
STATE ♦ LOCAL GOVERNMENTS
T REASURY ISSUES
AGENCY ISSUES
30
31
32
COMMERCIAL BANKING
TREASURY ISSUES
AGENCY ISSUES
33
34
35
3.3
1.2
2.1
PRIVATE NONBANK FINANCE
TREASURY ISSUES
AGENCY ISSUES
36
37
36
-7.6
-6.1
-1.5
1.8
-.1
1.9
SAVINGS ♦ LOAN ASSNS.
TREASURY ISSUES
AGENCY ISSUES
39
40
41
-.8
-.8
•
-2.9
- 1.2
- 1.8
-.4
»
-.4
MUTUAL SAVINGS BANKS
TREASURY ISSUES
AGENCY ISSUES
42
43
44
.4
.2
.2
.4
.2
.2
.4
.2
.4
.2
.2
CREDIT UNIONS
TREASURY ISSUES
AGENCY ISSUES
45
46
47
-.9
-.8
-.1
.3
.1
.2
-.5
-.7
.2
-.1
-.1
.5
LIFE INSURANCE
t r e a s u r y ISSUES
AGENCY ISSUES
48
49
50
.7
.2
.4
2.1
2.5
.1
.9
-.2
1.1
.3
.2
.1
.6
.5
•3
.8
.6
PRIVATE PENSION FUNDS
TREASURY ISSUES
AGENCY ISSUES
51
5i2
53
.3
.1
.2
-.4
•
-.4
.2
.3
•
.3
.3
•
.1
-.4
.5
.4
.4
«
.4
S. ♦ L. <?OVT.» RTR. FUNDS
TREASURY ISSUES
AGENCY ISSUES
54
55
56
-.4
-.3
-.1
«
•
-.1
-.7
-.7
»
.4
.3
•
-.6
-.5
-.1
-.1
*
-.1
.2
.1
.I
.5
.6
-.1
OTHER INSURANCE COMPANIES
T REASURY ISSUES
AGENCY ISSUES
57
5G
59
-.3
.1
.3
.6
-.1
.3
.5
-.6
-1.6
.2
*
2.6
1.0
.3
I.t
.5
INVESTMENT COS. (TREAS.)
SECURITY BROKERS ♦
O EALERS (TREAS.)
61
-2.6
.1
(1) WHERE NCT SHOWM SEPARATELY* LOAN P A RTICIPATIONS ARE In CLUDEO WITH
AGENCY ISSUES.
(2) THESE ISSUES ARE OUTSIDf THE LUDOtT AND OUTSiSE THE U.S. GOVERNMENT
SECTOR IN FLOW 0^ FUKDC ACCCUNYS. THEY ARH IP'CLUDED IN CREOIT MARKET
DEBT OF FINANCIAL INSTITUTIONS* SPONSGT-X AG'N!*Y ISSUES INCLUDE
g n m a - g u a r a n t e e d S c c u r i t Ici ; b a c ^ 1:? b y k o r t & a g e p o o l s .
IV/73 FIGURES AR£ TENTATIVE ESTIM A T E S 8ASED ON INCOMPLETE INFORMATION.
9
10
11
12
13
14
60
f; FEBRUARY 1974
PRIVATE SECURITIES AND MORTGAGES
PRIVATE SECURITIES ANO MORTGAGES
lg
18
PRIVATE SECURITIES AND MORTGAGES
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
........___ ....---- ---------------------- ------------------ ---- :--- .----------------
SEASONALLY ADJUSTED ANNUAL RATES
"
“
1968
’
1969
"
1970
|
1971
*•;
9#i
*
S
...
•:!
8
9
10
!•:
l\%
",
-l *!::
U:S
W9.0
1:2
U.Z
11.9
-'4
.2
*
if
3
10.7
6
7
8
9
10
11
12
1
13
4
15
16
17
.8
1.1
15.0
4.7
.3
1.3
8.3
3.9
.6
2.6
12.6
14.8
1 2 .0
.1
•!
::i
1.6
.1
1 .0
14.®
7.4
-.1
.3
6 .1
1.5
.6
3.1
.3
.2
23.7
19.8•
2.5
.5
.9
23.7
1 0.1
.8
1.3
10.0
1.5
4.2
2.3
.8
.7
2.1
ill
6.3
-I
- -
1 .2
1 5.1
2 5.8
3 -.7
4 -1.5
5 -a
6
7
8
•£
9 5.1
10 -7.9
.1
11
.3
12
.1
13 8
14 1.4
15 4.7
16 1..3
8
17
18 2.3
19 2.5
20 -.2
21 2.1
11;
r:i
-
15.0
12.9
.3
1973
i
\ III
1973
___ I _______” ______I I I _______I ! —
l!:i
13.9
i12.3
W
^
-7.3
W
49.2
5 10.8
*!:!
.......
8.6
•
.2
1
2
3
4
5
1973
STATE AND LOCAL GOVERNMENT SECURITIES
—
—
“
. ......--- ............
i3
1972
*
3
—
!ii
4 a
4.6
•*
:3
i:5
i;!
X
1.7
2.2
4.5
#
.3
2.7
- #3
.2
*
9.0
- #1
*
a
COMMERCIAL BANKING
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
S . ♦ L* GOVT.* RTR. FUNDS
8
9
10
11
’
3
3:t
13 R S t f K S ? C0MP‘
NUS
S
*
#
m *\
&
™
.*}
-H
2 0 .1
12.2
14.2
11.7
-.1
1.3
.4
-
18.4
9.9 14.5 14.1 1
8.3 11.8 12.7 3..9
2
-.3 <*.4 -..14 2.0
.9 1.7
.1
.2
.6
.7
.8 2.2
.7
.5
.4
9.9 14.5 14.1 18
4.8
-.9 -.4 -.3
•
•
.4
-.3 1.0 -.4 -1.0 -1.7
8.1
5.8 15.1 14
11.2 15
6
.9 T.O 4.
4.7
9
.9 3.5 5.
2
.
1
2
3.0 3.
4.3 71.
2
.4
.7
1.6
.1
.3
-.3 -1
-1.3 -..5
.7 -1.5
4
.2
9.5
4.8
4.7
2.9
•
.5
.8
.5
9.5
-4.3
•
.9
2
9.
1.
.4
7
5
1.8
1.0
2.1
1.7
.4
1.6
.1
6.3 11.7 11.3 -4
9.5 14.7 12.0 -1
.3
-.8 2
0 -.1
2.6 1.2 -.6 7.
2.0 6.3
.3 11.9 . 1
2.6
6.9 13.5 1
0 4.6
4.8 U.7 10.4 5.7• 1 0 .2• 101.
•
.0
.5
•2
.1
.6
.6
.6
.6
•6
.4
.6
1
.
8
.2 -.7
1.
.3
4 -1.
1.4
.•
9 1.5 1.1 8
-.4 -.1
.1
.1
.7 11.3 -14
9.5 14.7 12.0 6.3 11
6 2.0
-5.9 -6.5 1.9 -11.
-2.6 -5.4
.
.2
•
.1
.1
.1
7
.4
4 15..6
Is
.3
.6
.3
.5
7.
.7 12.9- 13.
9.7 18.2 16.5 11
S 3.5
.3 2.1
.6 3.5 3
2.0 3
.6 4.2 7.8 5.0
4.6 8.9 7.1 3
3.0 2*6 3.1 3.8 3.8
3.
.2
2.1 2
5 3.0 1.9 3.6 3.2 3.3
1.0
.7 -5.7
2.2 -4.9
.6 -1.7 1.3
.0 -5.2
.4 -1.8 -2.3• -3.0 -1
1.2
.8 -.5
.9 41.
.1 3.0 -1
.1
.1
3 5.2
1.3
.7
.8 2.3
TOTAL MORTGAGES
7.4
-l
8.
.l
5
6
•.
-2
.6
1.9
-.2
7.4
-6.
-9
.4
13.9
4.6
4.4
3.6
1.4
-2.3
1.7
.5
26.4
48.9
68.8
70.8
73.3
77.2
69.7
82.1
77.6'
54.0
*
-.1
.2
27.7
16.1
1.3
.6
-.1
.1
25.7
12.5
1.4
2.0
-.1
.1
46.8
24.1
1.2
1.2
-.1
.5
67.3
38.4
-1.5
-.1
.3
72.2
39.4
1.4
-.1
.5
71.6
40.8
1.0
-.1
.4
75.8
43.5
1.0
-.1
.5
68.3
38.3
.2
-.1
•6
81.4
43.0
-2.4
-5.0
-.1
;
2.2
3.4
5.7
27.4
1.5
1
1..1
2.2
22.5
6.7
12.2
9.4
2.8•
2.8
2.5
•
.4
•
.6
.2
.9
10.3
1.9
3.8
4.6■
27.8
1.1
-.1
.7
4.5
21.6
5.4
12.2
9.9
2.7
*
2.8
2.1
.1
.6
•
.3
.9
4.0
11.9
1.8
4.9
5.2
26.4
.1
•
.3
5.8
20.1
2.5
1
12
0.
.1
2
1.8
.1
3.3
2.3
.1
.8
•
.1
2.1
1.3
1.4
27.4
2.6
9.2
15.6
68.8
-2.0•
-.2
6.7
64.4
16.8
37.6
32.0
5.6
.1
.8 1.0
1.8
1,
.1
.
6 -.7
.1•
.3
•
4.1
1
.
1
2.5 4.8
•
-2.7
21.5
2.0
8.0
11.4
48.9.1•
•
6.3
42,4
9.9
28.1
24.1
4.0•
IV/73 FIGURES ARE TENTATIVE ESTIMATES BAStlD ON INCOMPLETE INFORMATION.
1
3
4
5
2
6
T
8
HOUSEHOLDS
■9
C
O
M
M
E
R
C
I
A
L
B
A
N
K
I
N
G
10
MUTUAL SAVINGS BANKS
INL
SI
UF
RE
ANCIENSURANCE COMPANIES 1
11
2
PRIVATE PENSION FUNDS
13
S. ♦ L. GOVT.. RTR. FUNDS 14
OTHER INSURANCE COMPANIES IS
16
FINANCE N.E.C.
17
REST OF THE WORLO
1
2
3
♦
5
6
7
8
»
10
11
12
14
3
1
15
16
IT
IB
19
20
2i
TOTAL MORTGAGE CREDIT
1
BOR
DSBY♦iLOAN ASSOCIATIONS 2
SR
AO
VW
IE
NG
U.S. GOVERNMENT
3
-.1•
REITS
4
PRIVATE NONFINANCIAL SECTORS S
59.8
80.0
H
O
U
S
E
H
O
L
D
S
35.4
40.7
ONPROFIT INSTITUTIONS 6
7
.4 1.4 1.4 1.4 N
1.4 1.5 1.4 281.
8
5 37.0 37.9 22.2 BUSINESS
.9
31.4 29
.3 30
F
A
R
M
S
9
3.5
.0 4.6 4.7 5
.6 2.4 4
4.2 2
NONFARM NONCORPORATE 10
.7
10.8 9.5 13.0 12.1 12.9
10.1 9.9 1
CORPORATE
11
17.1 16.8 7.7 15.0 19.5 21.1
12
.0
70.8 73.3 77.2 69.7 82.1 77.6 54
13
OUS
OLDGS
.1 1.0 4.3 H
1.1
S.
♦EH
L.
OVT.. GLN. FUNDS 14
• -4.1• -1.0
•■ -.5
15
.S. GOVERNMENT
.6 -3.0 3.1 -.5 U
.3 -.9 -1
-.5
10.2 5.6 6.7 7.9 10.3 12.4 10.1 SPONSORED CREDIT AG. (1) (2) 16
VATE-FINAN. INSTITUTIONS 17
4.6 61.1 40.0 PRI
7.9 75.4 64.3 7
60.0 6
18
9.3 16.3 COMMERCIAL BANKS
18.0 18.3 21.7 310
18.9 17.9 4
INGS INSTITUTIONS
19
.2 17.7 SAV
.6 39.0 42.2
0.4 31
32.3 4
S*L ASSOCIATIONS (1) 20
.9 33.5 35.3 24.7 12.7
26.5 34.4 4
NUTUAL SAVINGS BANKS 21
6.9 5.5 4.9
5.7 6.0 6.6 5..5
CREOIT UNIONS
22
.1
1
.1
.1
.1
.1
.1
SI
UF
RE
ANC
E
2
3.8 1.2 2.7 4.4 4.8 INL
3.3 1.0 4
COMPANIES
23
4
.3 1.5 2.0 5.2 4.4
3.3 1.8 -.
PRIVATE PENSION FUNDS 25
.4 -.3
5• -.5 -.4 -•4
-.6
S
.
♦
L
.
G
O
V
T
.
.
R
E
T
.
F
U
N
D
2
6
.
4
.
7
.
3
1
.
0
.4
*
«
•
•
OTHER INSURANCE COS. 27
«
—
• -.2
INANCE COMPANIES
28
1.8 -.4 F
1.1 2.9
1.4 5.3 5.8
29
1.6 REITS
4.2 3.2 6.-2 4.6 5.1 5.3
11.4 11.9 1.3 (1) MSKOI FhLB LOANS TO S»L 30
7.2 1.9 3.1* 4.1 A
SSOCIATIONS (INCLUOI[D IN "OTHER LO^NSm CATEGORY)
<2) includes mortgage pools backing gnma-guarakteed pass-through securities.
27.8
.2
7
o
10
11
12
13
1
14
5
16
17
1
18
9
20
21
22
23
24
25
26
27
28
29
30
CORPORATE BUSINESS
COMMERCIAL HANKS
FINANCE COMPANIES
REITS
REST OF THE WORLD
T ISSUES
■6.4 7.3 IEO
1.3 -1.9 PEN-END INVESTMENT COS.
5.1 9.1 OTHER SECTORS
ORPORATE BUSINESS
4.ft 8.6 C
COMMERCIAL BANKS
.1
THER INSTANCE COMPANIES
.6 O
•6
EITS
.3 R
.5
•
.2 REST OF THE WORLD
6.4 7.3 IET PURCHASES
OUSEHOLDS
-3.3 -3.7 H
COMMERCIAL BANKING
- M
TUAL SAVINGS BANKS
.2 IU
.
3
SUF
RE
ANCIENSURANCE COMPANIES
9.9 7.1 NL
3.1 2.0 PI
RIVATE PENSION FUNDS
2.9 2.0 S.
♦ L. GOVT.* RTR. FUNDS
2.2 1.7 OTHE
R INSURANCE COMPANIES
1.7 1.3
.7 FINANCE N.E.C.
-3.4
.6 OPEN-CKO INVESTMENT COS.
-2.2
BROKERS AND DEALERS
-1.2 3..0
1 RES
T OF ThE WORLD
3.S
27.4
8
^
C0Rp0RATE kH0 FOREIGN bonds
1
-el
3
\
?
‘
:1
2
3
4
5
6
.2
27.1
14.6
1.1
11 3
OTHER
“ £ £ * £ “***
-i:S ::I
8 0
8.0
. i
18.0 20.1
12.4 11.1
.5 1.5
1.1
5.5 6.2
5.4
.2
.2
.4
-.5 1.0
1.0
1.0
.1
14.2 18.6 20
2 0 .1
3.9 6.S
.8
4.9
1.0 2..15
1.7 --.2
.5 ?•!
2 .8
.9
5.1 13.2 8
9.9 10.3 15
8.8
6 6.9 -3
5.5 7.2 2.
.1
.8 5
1.
.1
-.7 1 .6
3 3.2
9
4.8 4.8 41.
*
.7 -.1
.3 - . 1
6
-1.5 1.
-.8
.7
.4
-.6
.3
-.1
CORPORATE EQUITIES
24.7
1 8 .8
.7
3.8
.4
.9
24.7
8.2
1.
.3
4
3
*!:I
8.7
CHANGE IN LIABILITIES OF
MORTGAGES* BY TYPE
8 FEBRUARY 1974
MORTGAGES* BY TYPE
MORTGAGE MARKETS BY TYPE OF MORTGAGE
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL PATES
1971
I
1972
I III
1972
home
15.6
16.1
-.2
-.2
-.1
15.2
14.6
.2
.2
-.1
15.6
15.2
.5
12
.1
-.1
1 .6
3.5
3.9
3.0
.1
13.4
-.1
5.1
.9
.6
1.0
1.0
.6
-.1
1.2
-.1
2.0
-.6
-.7
-.7
17
18
-.9
-1.1
- 1.2
.1
.1
.3
.1
21
-1.3
.1
.5
...... --
6.3
- 2,
-2.7
-2.1
-.6
1.1
.7
-
1.2
m u l t i -f a m i l y
-.2
-.1
1.0
1.0
.9
.9
-.1
-.1
1.0
1.0
.2
-2.4
45.3
-3.5
38.8
- 2.6
45.0
-1.7
40.0
-.8
- 1.2
- 2.1
-3.2
4.9
9.8
6.0
11.8
3.8
9.8
30.9
27.4
3.5
.1
30.5
26.7
3.7
.1
28.3
24.8
3.5
.1
.1
1.0
-.6
-.4
1.4
-2.9
-2.3
-.6
5.3
-1.3
-.8
-.5
5.8
-
.7
.1
2.6
.1
.1
43.0
29.7
27.7
1.9
21.9
19.2
residential
40.0
40.7
45.0
-.2
-*.1
-.3
2.9
10.2
10.2
27.8
24.7
3.0
.1
1.1
-.1
1.4
1.1
-
4.3
9.0
5.7
1.1
37.4'
-.9
«
40.7
-2.2
»
28.0
-.6
38.8
38.3
45.3
43.5
.5
44.4
40.8
37.4
39.4
-.2
-.2
-.1
-1.5
28.0
24.1
19.3
17.9
1.3
9.1
7.7
1.4
8.7
7.2
1.4
13
14
15
16
-.1
.1
*8
11
.2
.2
.6
.2
10
13.4
12.5
IV
mortgages
mortgages
1.8
-
10.3
18.4
15.5
2.9
.1
- .
25.8 NET CHANGE IN ASSETS
1.6
HOUSEHOLDS
*
STATE ♦ LOCAL GOVERNMENTS
-.2
U.S. GOVERNMENT
6.0
SPONS. CREDIT AGENCIES <1>
p.8
COMMERCIAL BANKING
10.9
8.7
2.1
.1
-.6
1.8
-1.3
-.5
-1.5
-.4
2.9
.1
1.2
1.1
25.8 NET BORROWING
HOUSEHOLDS
35.
NONFARM NONCORP. BUSINESS
2
CORPORATE BUSINESS
-2.3
U.S. GOVERNMENT
-.1
SAVINGS ♦ LOAN ASSOCIATIONS
-5.0
-.2
-.4
1.8
1.1
-.3
-.4
-.5
20
21
---- .......... ........ .........
12.8
8.5
4.1
.2
15.8
10.5
5.1
.2
14.3
9.5
4.8
•
inv?
9.5 1 t I
NONFARM NONCORP. BUSINESS
6.6
CORPORATE BUSINESS
2.8
*
REITS
12.8
.7
.5
1.2
1.5
15.8
1.2
.1
2.4
1.3
14.3
2.2
1.9
2.3
1.1
9.5
2.2
- .8
2.0
.9
HOUSEHOLDS
U.S. GOVERNMENT
SPONS. CREDIT APtNClES (1)
c o m m e r c i a l BANKS
SAVINGS INSTITUTIONS
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
10
11
LIFE INSURANCE COMPANIES
S. ♦ L. GOVT.. PENS. FUNDS
REITS
13
14
15
5.9
4.3
1.5
•
5
6
7
8
9
3.4
-.3
.3
•
.3
4.8
-.5
.7
•
.5
5.9
-.8
.5
.3
.1
8.8
.4
.4
.8
.7
10.4
-.1
.3
1.2
1.8
13.1
1.6
10.5
t2
2.0
1.2
K4
1.3
12.7
,2
.3
1.2
1.8
10
11
12
1 .6
1.1
.5
1.7
1.2
.5
2.4
2.1
.4
4.8
3.0
1.8
4.9
3.8
1.1
5.0
3.6
1.4
4.6
3.5
1.0
5.9
4.5
1.3
5.5
4.8
.6
7.0
4.0
3.0
4.5
3.9
.7
2.9
1.8
1.1
1.0
.7
-.2
2.1
.7
*
2.6
1.6
.3
1.6
.9
1.0
1.8
.7
-.4
1.9
.8
.7
.8
.7
.3
.7
17
18
19
12.7
8.9
3.7
.1
4.8
3.6
1.2
.1
1.9
.8
.6
INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
FINANCE COMPANIES
REITS
10.5
7.4
3.0
.2
3.4
2.7
.7
.1
1.4
.6
.3
13
14
15
16
13.1
8.8
4.2
.1
1
2
3
4
1.0
.4
.1
12
SAVINGS INSTITUTIONS
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
CREDIT UNIONS
10.4
7.3
3.0
.2
8.8
6.2
2.6
*
13
14
15
9
10
11
.5
-.1
1.9
1.5
12
COMMERCIAL MORTGAGES
It I
HOUSEHOLDS
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
REITS
1
2
3
4
5
6.6
1.1
.5
4.8
.1
5.5
1.3
.4
3.7
.2
5.4
1.4
.4
3.6
.1
10.1
1.2
.9
7.9
.1
15.1
1.4
1.3
12.0
.3
16.1
1.4
1.5
13.1
.2
15.9
1.5
1.4
12.7
.3
16.8
1.4
1.5
13.5
.3
14.1
1.4
1.2
11.1
.3
16.7
1.4
1.5
13.5
.4
18. «
1.4
1.7
15.3
*
15.2
1.4
1.4
12.4
6
7
8
9
6.6
.1
5.4
-.2
«
1.2
10.1
-.6
•
3.0
15.1
-.5
«
5.4
16.1
-.4
14.1
-.2
16.7
- 1.0
18.5
-1.5
15.2
1.2
6.6
15.9
.7
«
6.0
16.8
-.6
5.7
6.4
7.7
6.8
5.5
HOUSEHOLDS
U.S. GOVERNMENT
COMMERCIAL BANKING
2.6
5.5
.3
*
1.6
1.9
1.0
.8
1.4
.6
.8
1.5
1.0
.6
4.1
3.1
1.0
4.9
3.5
1.5
5.4
3.7
1.7
4.9
3.5
1.5
5.2
3.6
1.6
5.2
3.9
1.3
5.5
3.5
2.0
7.?
5.3
2.0
3.8
2.1
1.7
SAVINGS INSTITUTIONS
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
10
10
11
12
13
14
1.9
1.8
•
1.8
*
2.5
•
3.4
•
2.6
«
1.9
3.3
«
1.0
4.2
»
2.2
.9
2.5
1.9
2.1
3.6
»
2.3
3.3
•
1.3
LIFE INSURANCE COMPANIES
OTHER INSURANCc COMPANIES
REITS
13
14
15
2.4
4.0
4.6
4.7
3.5
1.2
•
1.9
.7
*
.2
1.6
.1
1.9
.9
1.1
.?
I.®
1.1
«
.4
-.6
.5
2.1
1.0
farm
1
2
3
4
5
6
7
2.2
1.2
*
.5
.3
.2
1.9
1.2
•
.6
.3
•
1.8
1.1
•
.5
.3
-.1
2.0
.9
«
.7
.6
-.1
»
2.6
mortgages
4.2
1.2
.6
.8
.2
2.0
.9
.1
.3
.7
2.6
.5
.1
1.3
.5
•
.1
-.2
1.6
.7
.2
(1) INCLUDES MORTGAGE POOLS BACKING GNMA-SUARANTEED SECURITIES.
IV/73 FIGURES ARE TENTATIVF ESTi'MATFS BASED ON INCOMPLETE INFORMATION.
.1
NET CHANGE IN ASSETS:
HOUSEHOLDS
U.S. GOVERNMENT
FEDERAL LAND 3ANKS
COMMERCIAL BANKS
MUTUAL SAVINGS BANKS
LIFE INSURANCE C O M P L I E S
.6
11
12
CONSUMER CREDIT AND BANK LOANS N.E.C.
20
„
CONSUMER CREDIT AND BANK LOANS N.E.C.
CONSUMER CREDIT AND BANK LOANS NOT FLSEWHERE
(BILLIONS OF DOLLARS)
CLASSIFIFD
SEASONALLY ADJUSTED ANNUAL RATES
I960
1969
1970
20
SEASONALLY AOJUSTED ANNUAL RATES
1971
1972
1973
I
1972
1 III
IV
I
1
1973
T
IT
III
IV
CONSUMER CREDIT
1
2
3
10.0
8.3
1.7
10.4
9.4
1.0
6.0
5.0
1.1
11.2
9.2
2.0
19.2
16.0
3.1
22.9
20.1
2.8
18.9
16.2
2.7
26.2
19.6
6.6
25.7
24.1
1.6
24.7
20.2
4.6
22.*
21.2
1.3
18.8 NET CHANGE IN LIABILITIES (HH)
INSTALMENT CREDIT
15.0
NONINSTALMENT CREDIT
3.8
1
2
3
4
s
6
7
8
9
10
10.0
8.3
,1
-.3
4.8
1.5
2.3
10.4
9.4
.1
•
4.5
2.0
2.8
6.0
5.0
.1
.1
3.9
1 .4
.5
11.2
9.2
•
.1
5.8
1.9
1.3
19.2
16.0
.2
1.0
8.5
2.5
3.8
22.9
20.1
.2
1.2
9.7
3.1
5.9
18.9
16.2
.2
1.1
9.0
2.3
3.6
26.2
19.6
.3
1.5
10.2
2.4
5.3
25.7
24.1
.2
1.2
12.0
3.9
6.8
24.7
20.2
.2
1.4
9.6
2.6
6.4
22.5
21.?
.?
1.0
10.?
3.?
6.4
18.8 NET CHANGE IN ASSETS
INSTALMENT CREDIT
15.0
NONFARM NONCORP. BUSINESS
.3
CORPORATE BUSINESS
1.3
COMMERCIAL BANKING
7.1
SAVINGS INSTITUTIONS
2.5
3.9
FINANCE COMPANIES
4
5
6
7
8
9
10
11
12
13
14
15
1 .7
.4
.3
,9
.1
1 .0
.5
.3
.2
•
1 .1
.5
.6
-.1
«
2.0
.7
.4
.8
.1
3.1
.9
.6
1.5
.1
2.8
1.0
.8
.9
.1
2.7
.7
.3
1.6
.1
6.6
2.0
1.9
2.6
.1
1.6
.1
«
1.2
.3
4.6>
1.3
1.9
1.4
•
1.3
.7
•
.6
•
3.8
2.1
1.3
.4
*
NONINSTALMENT CREDIT
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
COMMERCIAL BANKING
SAVINGS INSTITUTIONS
11
12
13
14
15
72.9
45.0
TOTAL BANK LOANS AT
COMMERCIAL BANKS* F/F BASIS
1
BANK LOANS NOT ELSEWHERE CLASSIFIED
1
28.0
27.0
14.6
30.5
60.0
63.8
82.0
18.9
10.6
-4.7
«
.
53.1
17.9
10.7
1.4
-.8
34.6
53.1
34.6
18.0
12.7
5.4
.8
.
*5.0
_
45.0
28.5
21.8
3.0
1.8
.7
13.9
2.4
53.1
41.3
5.0
2.4
.4
30.3
3.2
34.6
21.2
4.2
1.4
.5
11.8
3.3
45.0
37.5
1.9
3.6
.7
28.7
2.5
6.8
.8
3.6
1.5
.8
11.8
.3
4.5
2.8
4.2
13.4
.7
5.8
.1
6.8
7.5
1.5
8.3
3.5
-5.8
2
3
4
5
6
7
8
9
6.7
5.7
1.3
-1.4
5.*
4.7
-1.1
.5
?.5
2.9
1.4
2.0
9.9
6.7
.8
.8
16.8
10.1
4.8
-.2
15.7
17.6
s.a
12.*
15.7
17.6
5.8
12.*
28.5
•
28.S
10
11
12
13
14
15
16
15.7
13.1
2.2
.4
1.1
9.7
-.2
17.6
15.3
1.5
.6
2.1
11.6
-.6
5.8
6.4
.5
.8
— .6
5.7
•
12.4
9.3
.4
1.3
.2
4.8
2.6
17
18
19
20
21
2.5
.1
2.3
.1
.1
2.3
.1
1.9
.2
.2
-.5
-.1
-1.1
.6
.1
3.0
.7
*
.7
1.6
_
77.9
-
114.e
- LOANS ELSEWHERE CLASSIFIEO
MORTGAGES
CONSUMER CREDIT
SECURITY CREDIT
COMMERCIAL PAPER
HYPOTHECATED DEPOSITS
92.5
21.7
11.0
-.7
-.3
.
47.5
19.3
10. 0
-5.1
— .8
48.7
92.5
47.5
48.7
16.3
7.4
-5.0
2.5
23.8 s BANK LOANS N.E.C.
LOANS BY F.R. BANKS
23.8 * TOTAL BANK LOANS N.L.C.
92.5
75.1
4.4
2.3
1.9
55.2
11.3
47.5
33.9
? .4
2.1
-.6
27.0
3.0
48.7
36.4
9.P
2.1
— 1 .A
28.?
-l.l
23.8 NET CHANGE IN LIABILITIES
NONFINANCIAL SECTORS
19.8
HOUSEHOLDS
4.2
FARM BUSINESS
3.1
NONFARM NONCORP. BUSINESS
1.9
10.9
CORPORATE B U S I E S
REST OF THE WORLD
-.3
17.4
-.5
5.9
4.0
7.9
13.6
.2
4.0
3.7
5.7
12.4
2.3
5.7
2.«?
1.9
18.3
13.1
-8.1
-1.2
IV/73 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
79.2
4.0
-.6
2.3
.8
1.4
FINANCIAL
SAVINGS
FINANCE
REITS
FOREIGN
SECTORS
♦ LOAN A5SNS.
COMPANIES
BANKING AGENCIES
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
8 FEBRUARY 1974
OTHER LOANS
OTHER LOANS
21
OPEN-MARKET PAPER AND OTHER LOANS
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTEO A N N U.L_.ATES_________________________________________________________________________________ f
^
^
1(J73
1968
1969
1970
1971
1972
1973
I III
IV
I
I
II
HI
17.5
-13
1.9
.7
2 7
-10.1
3
23.1
9 4
1.6
1.1
.9
2.4
-.2
3.6
41.3
12.9
3.4
1.4
3.?
4.0
I
f
f
OTHER LOANS — SECTOR TOTALS
n
&
J’
S
?*?
1#I
I
\
3
90 fl
An
{•?
II
2 *!
7 *i
3 *f
4 9
5*7
14
*t
5
*7
*1
z'.l
*:!
2.\
.1
44.9Q
15*4
1 ‘
3*!
i
f
;
V I
3 *J
I
l Q
V I
9
, _
4.7
..
14.5K
-3.6
-.8o
J?
J
l *J
e a
‘
~ul
-2 ?
*.4
2.5
27.7
10 9
2 2
if
2.2
2.9
I
I
6.4
39
1.9
.2
.1
1.6
J
16.7
16.7
2.5
2.S
9 7.3
18.7
13.7
28.*?
6.0.
FINANCIAL
SECTORS
SPONSORED
CREDIT
AGENCIES
109
5.9
7.2
-. q
1 9
.1
3
13.7
4 i
-1.0
1 4
10.9
ll.o
.2
1.3
COMMERCIAL BANKING
SAVINGS ♦ LOAN ASSNS.
11
12
I
15.7
8 4
7
5
1 2
2.4
10
-3
"t
*
lU
.0
28.8 NET INCREASE IN LIABILITIES
22.8
NONFINANCIAL SECTORS
2.0
HOUSEHOLDS
.9
FARM BUSINESS
1.9 NONFARM NONCORP. BUSINESS
15.4
CORPORATE BUSINESS
* STATE ♦ LOCAL GOVERNMENTS
*.T
REST OF THE « R L O
1
2
3
4
5
6
7
8
»
14
*:l
I
.8
•
2.5
^
1.0
-»•*
2.7
«.»
2.6
-.6
»•*
.1
*•*
3.?
»•*
1.1
F ™ i " CE C0MP‘NIES
REITS
j
**
ic5
13
13.66
29
29.88
6.0
6.0
4 9
4.9
10.4
♦
27.7
J.f
6.4
15.7
17.5.
23.1
g
41.3
28.8
ug
NET INCREASE
IN ASSETS
HOuSEHOLOS
15
16
15
5*1
3*.7
54
-2 *o
1:2
3 2
3 3
elo
-4.7
\l
1:1
l-l
2.8
3 ;5
4.5
1.7
11.ft
1.7
12.9
1.9
CORPORATE BUSINESS
U.S. GOVERNMENT
17
is
,9
1?
.7 4
* a
4 *5
5
i*J
V I
3*5
I 2
.? 0
2 *2
8
’s
.8
. ‘I
-.2
- 1
xJ
2 5
-!l
8.5
*
*
.9
22
3 2
U9
2.3
*
-8
4
3.4
4.0
7.1
2
-1.2
3 4
6.6
2.1
lis
12.5
-.4
-.3
-.3
-1.2
2.7
1.7
13.4
1.2
.4
-.4
-.8
2.5
.H
-.4
-.7
4.0
3.4
4.5
3. 3 ______ 1.0_
SPONSORED CREDIT AGENCIES
MONETARY AUTHORITIES
COMMERCIAL BANKING
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
FINANCE N.E.C.
REST OF THE WORLD
19
20
21
22
23
24
25
.
II
||
11
It
.
2 -J
t:!
10.4
5 4
13
l:i
};§
.
3
9 ■
»
2,3
2 0
!
3 ;J
! 3
is
A
1 4
V .2
3.0
2*’
3.6
2
.8
-2 3
-16
3.7
.5
OPEN-MARKET PAPER
17.5
14.1
OPEN-MARKET P APER— TOTAL
NET ISSUES. BY TYPE ♦ SECTOR:
7
8
9
6.8
3.8
-.4
.7
.3
.5
.3
-.5
1.2
.2
2.3
1.5
.8
4.6
2.3
1.1
.9
2.2
-.5
-1.3
-1.7
-.1
.5
.1
-.4
1.3
.4
.1
.3
.1
.1
-.2
1.0
.7
.4
.4
.3
-.8
10
11
12
13
14
15
5.5
3.2
1.8
1.8
1.6
.8
.5
.3
.3
.3
-
1.0
.1
1.6
5.2
.7
5.1
4.2
.9
17
18
19
20
21
-.1
-1.4
.1
22
23
24
25
26
.3
.6
14.1
4.8
5.4
4.0
1.4
-1.2
-1 .5
.5
.3
.1
.2
2.0
.3
.2
.1
.9
1.2
1.0
.8
-.4
.5
.9
-3.9
3.2
2.4
3.3
1.7
1.6
.9
.5
-.6
.6
2.0
-1.8
.3
.1
.1
-2.1
3.7
-2.5
12.0
-4.0
1.4
.7
.2
.2
-.2
-.1
-.2
.1
.6
-.3
-.2
7.*
2.4
2.1
3.1
*
1.7
-.5
-1.2
3.4
2.5
.3
-.2
.7
.1
14.0
10.8
1.8
1.6
-.2
1.5
-.5
- .3
-.3
2.0
3.R
4.9
2.5
2.5
-1.1
2.0
1.5
.8
.8
.4
BANKERS * ACCEPTANCES
NONFINANCIAL BUSINESS
CORPORATE
NONCORPORATE
REST OF THE WOR .0
7.1
1.6
NONBANK CREDIT TO 8ANKS
IN SECURITY RP'S
4.6
2.6
1.6
8.6
-.4
3.0
.2
2.6
-1.0
-1.5
-1.1
1.0
.6
-15.9
-4.4
-.2
.3
.4
-.6
-.3
-.3
.9
.7
-.3
-.2
-.2
1.0
5.9
- 11.6
20.A
8.0
11.ft
5.2
6.A
DIRECTLY-PLACED PAPER
FINANCE COMPANIES
REITS
BANK AFFILIATES
d e a l e r -p l a c e d
paper
CORPORATE BUSINESS
FINANCE COMPANIES
REITS
BANK AFFILIATES
17.5 NET PURCHASES. BY SECTOR
1.5
HOUSEHOLDS
12.9
CORPORATE BUSINESS
11.9
c o m m e r c i a l PAPER
1.0
SECURITY RP*S
5.4
2.6
-1.8
-4.7
-1.7
-3.0
3.1
5.0
3.0
1.7
1.3
3.8
-8.7
2.8
-2.5
5.3
6.2
2.1
4.5
7.2
-2.7
.9
-.2
1.1
-.8
.4
-.1
.5
.2
.8
-2.3
-.1
-2.3
.2
-1.2
3.4
-1.6
5.1
-.3
-.3
1.4
-1.7
.2
.3
1.9
2.4
1.0
-.4
-2.5
-1.5
.5
5.5
.2
1.5
-2.7
1.6
1.7
-4.1
1.2
3.3
2.0
-1.6
1.0
.7
8 .0
-.2
.5
.3
-1.6
1.2
.7
-.4
2.5
-.4
-.9
.5
6
7
8
9
10
11
12
13
14
15
18
19
20
21
MONETARY AUTHORITIES
COMMERCIAL BANKING
MUTUAL SAVINGS BANKS
COMMERCIAL PAPER
SECURITY RP'S
22
23
24
25
26
LIFE INSURANCE COMPANIES
INVESTMENT COMPANIES
REST OF THE WORLD
27
28
29
OTHER TYPES
1
2
3
2.2
.5
1.7
5.0
.6
4.3
.1
-.3
.4
1.8
-.1
1.9
2.8
«
2.8
2.9
1.0
1.8
3.1
-.9
4.0
5.2
1.7
3.6
1.9
.2
1.8
1.2
1.0
.1
2.?
.ft
1.5
6.1
2.1
4.0
INANCE CO. LOANS TO BUSINESS
LIAB.-NONCORPORATE BUSINESS
CORPORATE BUSINESS
4
5
6
7
8
9
10
11
3.6
.4
-.1
.3
.2
.3
.2
2.2
3.4
.4
*
.3
.1
.7
-.3
2.1
2.5
.3
-.1
.6
.3
.1
.
1.3
3.2
.4
«
.4
.2
.4
.
1.8
2.5
.4
«
.1
.2
.3
1.5
2.2
.2
-.1
.2
-.1
•
2.0
3.9
.8
.3
.4
.2
.5
1.7
2.9
-.2
.1
-.4
.6
1.0
1.6
3.4
.7
-.2
.6
-.2
.3
2.2
1.7
.1
•
.2
•
-.2
1.6
1.7
•
•
-.1
•
1.9
-.1
*
*
-.2
*
2.2
•S. GOVERNMENT LOANS
4
LIAB.-HOUSEHOLDS
5
FARM BUSINESS
6
N ONFARM NONCORP. BUS.
7
CORPORATE BUSINESS
8
S. ♦ L. GOVERNMENTS
9
SPONS. CREDIT AGENCIES 10
REST OF THE WORLD
11
12
1.2
4.8
2.3
-2.0
.8
8.5
2.3
3.6
7.1
12.5
13.4
1.2
13
14
15
.2
.1
.9
.6
.2
4.0
.7
.3
1.3
.7
»
-2.7
.4
.3
«
1.1
.3
7.2
-.1
.5
1.9
.4
.2
3.1
1.0
2.1
4.1
1.1
*
11.4
1.5
.1
11.9
.9
-1.0
1.3
16
17
18
1.3
•
1.2
2.6
.1
2.5
2.3
.1
2.2
1.0
•
1.0
.9
«
.9
2.0
•
2.0
1.0
•
1.0
.9
•
.9
1.2
»
1.2
1.5
•
3.4
3.4
2.1
*
2.1
ASSET-U.S. g o v e r n m e n t
LIFE INSURANCE COS.
19
.
.
.
.
-
-
-
-
-
-
-
-
HYPOTHECATED DEP. (HH L I a B.)
a s s e t -c o m m e r c i a l b a n k s
IV/73 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
1,5
2.0
LIABILITY OF13
FARM BUSINESS (FICB)
NONFARM NONCORP. BUS. (BC) 14
15
S*L ASSOCIATIONS (FHLB)
16
17
18
8 FEBRUARY 1974
security credit, trade credit. ANC TAXES
SECURITY CREDIT. TRADE CREDIT. AND TAXES
22
SECURITY CREDIT. TRADE CREDIT. ANf) TAXES PAYABLE
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
I
1972
I III
1973
I
I
IV
SECURITY CREDIT
1
2
3
1
2
3
6.6
2.9
.2
-6.7
-3.C
-.2
-.8
-i .8
•
3.8
2.6
*
8.9
4.7
•1
-9.6
-5.0
-.2
2.1
2.5
7.2
1.2
.2
-13.7
-3.9
-.2
-8.6
-5.4
-.5
-7.4
-4.1
-8.7 1NcV CHANGE IN LIABILITIES
HOUSEHOLDS
-6.5
FOREIGN
-.2
4
5
6
7
3.5
1.0
-3.0
- 1.0
1.0
1.9
1.1
.7
-2.0
- 1.0
.5
-4.4
-3.4
-.8
-.3
-.4
.5
2.4
4.1
3.8
.1
.2
-.3
5.6
4.1
.3
1.3
-9.6
-7.1
-1.3
- 1.1
-2.7
-.8
-.6
-1.3
-3.4
-3.1
-.9
.6
- 2.0
-2.5
-.2
.6
8
9
6.6
2.1
-6.7
- 1.8
-.8
-.9
3.8
.5
8.9
.1
-9.6
-.2
2.1
-.7
7.2
1.0
-13.7
-.9
- 8.6
-1.3
-7.4
.7
-8.7 N ”T CHANGE IN ASSETS
HOUSEHOLDS
.6
8
9
10
11
12
1.3
2.8
.3
- 1.1
-3.5
-.2
1.4
-1.3
.8
2.5
4.8
3.9
.1
-4.7
-4.6
-.1
1.4
1.5
-.1
5.4
.5
.3
- 8.1
-4.5
-.2
-.7
-6.5
«
-5.1
-2.9
-.1
-5.0
-4.4
»
COMMERCIAL BANKING
10
11
12
15.9
.5
1.0
-.2
16.6
.5
1.2
14.6
.5
1.7
-2.1
23.7
.5
.6
1.5
6.2
.5
.9
-.1
28.0
.5
1.0
•
1.4
-1 .9
.5
1.7
2.0
N!IT CHANGE IN LIABILITIES
HOUSEHOLDS
FARM BUSINESS
NONFARM NONCORP. BUSINESS
iPAYABLES LESS RECEIVABLES)
1
2
3
4
12.0
.6
-.2
.3
CORPORATE BUSINESS
STATE ♦ LOCAL GOVERNMENTS
U.S. GOVERNMENT
FOREIGN
5
6
7
8
21.4 N«*T CHANGE IN ASSETS
CORPORATE BUSINESS
21.7
U.S. GOVERNMENT
-1.5
O THER INSURANCE COMPANIES
.2
F OREIGN
• 1.0
9
10
11
12
13
-4.5 DISCREPANCY
14
10.3 TOTAL TAXES PAYABLE
CORPORATE BUSINESS
9.6
MONETARY AUTHORITIES
.1
C OMMERCIAL BANKS
SAVINGS ♦ LOAN ASSOCIATION!*
.2
LIFE INSURANCE C O M P A N D S
OTHER INSURANCE COMPANIES
.3
F INANCE COMPANIES
.*
BROKERS ♦ DEALERS
1
2
3
4
5
6
7
8
9
10.1 TOTAL TAXES RECEIVABLE
U.i. 60VERNKENT
9.5
S~ATE ♦ LOCAL GOVERNMENTS
.6
10
11
12
BRCKERS ♦ DEALERS
FROM COMMERCIAL BANKS
FROM FOREIGN BANKING AGS.
customer
lrokers
and
credit
balances
dealers
F OREIGN
4
5
6
7
TRADE CREDIT
1
2
3
4
18.9
.5
.3
-.1
20.0
.5
.7
- 1.1
6.5
.5
1.0
-.9
4.6
.5
1.2
- 1.1
5
6
7
8
17.2
.6
•
.4
19.0
.5
-.3
.8
5.2
.4
-.6
1.0
3.6
.6
-.7
.5
13.6
.6
-.1
.6
15.1
.6
-.3
- .5
11.8
.6
.1
2.0
19.6
.6
1.2
-.3
6.1
.6
-.7
- 1.1
27.9
.6
-.4
- 1.6
14.3
.6
9
10
11
12
13
20.4
18.6
.6
.3
.9
24.8
22.7
.9
.4
.6
8.2
7.1
-.8
.5
1.4
4.3
5.6
-1.7
.3
.1
20.0
19.8
-.8
.3
.8
22.9
22.3
•
.2
.5
17.9
17.6
-.7
.3
.7
27.2
2P.5
-2.6
.3
1.1
16.6
15.5
.4
.3
.4
27.3
26.0
1.3
.2
-.3
26.4
2L.9
-.4
- 1.6
-4.8
-1.7
.3
-4.1
-6.3
-3.3
-3.5
-1C .4
.7
- 11.1
14
.4
.7
PROFIT TAXES PtYA'!.-
.2
.1
*
8 .B
7.9
.2
.2
.2
.1
.2
.1
»
6.0
5.3
•
.2
.2
»
,£
.1
*
11.1
10.5
.2
-.1
.?
*
.?
.1
«
9.1
e.3
.1
.1
.2
•
.2
.1
•
1.5
1.4
-.4
.1
.1
.1
.1
«
4.1
3.2
.5
10
11
12
2.4
l.T
.7
-3.2
-2.6
-.6
-3.2
-2.3
-.9
1.6
1.3
.3
1.0
.5
.5
8.8
8.2
•&
.8
.3
.5
4.6
4.1
tK
9.9
9.4
.5
5.4
4.7
.6
9*9
9.4
.5
13
.7
.1
.1
.2
-.3
.2
.T
-.5
- 1.1
.6
1.3
6
7
ii
«
.7
•6
«
-.2
.1
•
.i
»
•
* "i*-
9
-.1
*
.2
•
«
•
-3.1
-3.3
•
.1
•
.1
.1
•
-.1
3.0
2.9
1
2
3
4
.3
«
.1
.1
*
1.8
2.0
4»
•
.1
-.1
-.1
a
.1
it
*
.2 DISCREPANCY
PflnP.;iPTO^S» EGU-TY It. MOWCORPO!7’
’
I f :.(SININS'
j
2
3
- 2.2
-2.4
.2
- 2.8
-3.2
.5
-3.6
-2.9
-.7
-3 .4
- 2.8
-.G
-5.0
-4.3
-.9
- 8.1
-5.3
- 2.8
-5.3
-3.7
- 1.6
-4.7
-4.2
-.5
-L.3
•5.6
-2.7
IV/73 FIGURES AR! T I N T a TIVE ESTIMATES BASED OK IN*CW?LEYE I K f C R KATiQN.
-9.0
-5.8
-3.2
-6.4
-5.1
-3.’
-7.0 TOTAL H OUSEHOLD INVESTMENT
-4 .C FArfM BUSIN iSf
-2.2 k ;.4Fa RM NONCORPORATE BUSINESS
13
MISCELLANEOUS I
8 FEBRUARY 1974
M ISCELLANEOUS I
23
MISCELLANEOUS FINANCIAL CLAIMS
(BILLIONS OF DOLLARS)
23
SEASONALLY ADJUSTED ANNUAL RATES
1973
1972
1
1 III
IV
1
IV
III
I!
I
(II
1
1
•
1
1
1972
26.7
.4
.8
-.4
5
6
7
8
11.9
-.3
.1
7.6
23.1
.4
.5
16.9
9
10
11
12
13
14
,4
.1
1.5
2.5
*
1.9
.4
.2
1.4
3.3
•
2.7
10.8
.4
1.0
.5
8.4
.3
-.1
.8
20.9
.5
.2
«
36.8
.4
2.3
.1
2T.4
.6
.7
•
27.2
.5
.6
1.0
39.1
.5
1.1
.5
40.8
.5
2.1
-.7
43.3
.A
2.9
-.4
23.9 TOTAL
LIABILITIES
T
HOUSEHOLDS
.4
CORPORATE BUSINESS
3.0
U.S. GOVERNMENT
1.2
5.1
2.5
.4
-3.7
2.8
-1.0
-.2
-2.7
16.2
.3
-1.0
9.3
26.7
1.6
.8
16.4,
18.9
.3
i.e
8.3
23.2
-.7
-3.6
20.5
25.1
.6
1.6
11.3
34.6
1.9
-.3
25.2
34.6
2.6
1.4
23.?
12.6
1.5
.5
6.1
TOTAL FINANCE
SPONSORED CREDIT AGENCIES
MONETARY AUTHCr.ITItS
COMMERCIAL BANKING
.6
.1
1.7
3.4
.1
3.7
.8
.1
2.1
3.6
.1
4.6
.7
•
-.1
3.3
3.7
.2
1.8
3.3
.C
3.6
3.7
.6
‘.7
2.7
3.8
•
1.4
2.1
3.*
-1.1
-.6
2.3
3.8
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
NONLIFE INSUR. COMPANIES
REITS
REST OF THE WORLD
•
1.2
.2
2.9
3.7
.1
7.3
.7
.6
2.7
3.8
•t
2.9
3.7
.2
4.0
7.2
r
6.7
12.0
4^2
5.9
27.1
2.9
.7
.ft
l.A
-.1
23.3 ’OTAL ASSETS
HOUSEHOLDS
2.9
FARM BUSINESS
.7
NONFAR* NONCORP. D'JSINE».S
1.0
CORPORATE BUSINESS
1.0
U.S. QOVEnNtiENT
.9
10
11
12
13
14
15
16
17
18
19
20
15
16
17
18
19
20
12.9
i.e
.4
.5
2.4
-.2
18.1
2.1
.4
.7
3.0
.1
12.2
2.6
.5
.7
4.2
.3
6.6
2.3
.6
.8
6.2
.1
17.5
2.7
.5
.7
4.3
.1
31.8
2.9
.6
.8
5.5
.4
28.4
2.7
.4
.7
8.6
.1
5.6
2.8
.6
.7
-.8
.3
37.6
2.8
.5
.8
12.6
,4
39.0
2.8
,7
.8
6.8
,4
21
22
23
4.6
»
3.4
3.7
.1
2.8
9.6
l.C
5.0
3.4
.6
1.2
6.0
.6
3.1
13.8
.8
8.7
12.2
2.9
9.0
-.2
-1.6
-.9
16.7
-.9
15.2
17.0
1.6
8.3
11.7
1.5
7.1
10.0
1.1
4.0
TOTAL FINANCE
SPONSORED CREDIT AG£NCI-S
COMMERCIAL BANKING
21
22
23
24
25
26
27
28
29
30
-.1
.3
.6
,4
-.4
•
.9
.3
2.2
.3
.8
•
.2
.3
.9
.1
.2
.8
1.0
-.2
1.9
.3
1.0
.5
.3
-1.1
1.0
-.3
-2.0
2.9
1.0
-.2
1.9
-1.0
1.0
-.1
2.4
1.8
1.0
1.2
1.7
-1.1
.9
.*
1.7
1.3
.9
.2
.1
3.4
.1
8.0
.3
-5.6
•
-6.6
.5
3.1
.6
7.6
.5
3.6
.6
2.2
.5
3.9
.6
10.6
•ft
9.3
.6
6.8
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S. ♦ L. GOVT.* RTR. FUNDS
REITS
REST OF THE WORLD
24
25
26
27
28
29
30
2.3
8.6
-1.5
1.8
3.5
5.0
-1.0
21.5
1.5
1.7
16.?
(A? DEPOSITS
-6.9
-7.2
.2
32
33
34
2.3
1.8
.5
7.9
6.8
1.2
35
36
37
38
39
.5
.5
- .1
•
•
-.5
-.4
-.1
•
»
40
.5
-.4
*
.1
.8
-
-
-
41
,6 UNALLOCATED* NET
•6
2.2
1.1
4.1
4.e
.7
.9
.5
.4
1.0
.4
.6
4.0
2.4
1.6
-3.3
-2.5
-.8
-1.1
-1.1
•
2.8
1.6
1.2
1.8
.*
1.0
1.4
1.4
-.2
.2
«
3.6
1.8
-.2
.2
1.7
3.5
2.4
.1
-.1
1.1
6.9
4.8
-.1
-.1
2.2
-1.1
-3.5
-.1
.6
2.0
r .9
4.7
.1
-.4
1.5
7.5
*.0
.1
.4
3.0
' .3
.*
-.1
-.2
-.1
3.6
-
-
-
-
.1
.1
#2
•
..2
foreign cu r r . except official
l i a b .- r e s t o f t h e w o r l d
ASSET-CCRPORATE EUSINIG3
U.S. GOVERNfc£NT
COMMERCIAL BANKS
F0R2I3N B A L I N G AGS*
32
33
34
35
36
37
38
39
POSTAL SAVIK3S DEPOSITS
(LlAf.-U.S. GOVY.)
ASSET-HCUSEHOLOS
-
-
-
-
COMMERCIAL BANK LIASILITY
TO FOREIGN AFFILIATES
.3
ASSET-REST OF THE WQ^LO
.1
LlAB.-COWfltRClAL Bft54Kj»
,2
FOREIGN BANKING AG o *
(B) EQUITIES
3.8
1.4
2.0
2.6
1.5
6.7
DIRECT FORcIGCl IMVESTK'-iMT
BY U.S. CCfc.V3A7KN.*»
-.2
LIAB.-REST OF TH- O R L D
1.6
3.0
DIRECT F3KEI0N INVESTMENT
IN U.S.
L I A U - C O R P O R A T E BUSINESS
42
.3
.8
1.0
-.1
.2
2.3
.7
.6
1.1
2.1
2.9
.2
.3
.3
.2
.5
.3
.3
U.S. G O V T . El. IN IB‘
<2* C T C
LIAB.-REST OF THE WOkLO
.2
.3
.8
.1
«
43
.2
.5
-1.2
-1.5
1.2
.6
.5
DEPOSITS AT FHLB
,
(a s s e t - s * l ftss c»,;,,c.;5!
LlAG.-SPi>f4SORZ3 C u J J ft3S.
.6 EQ. IN U.S, GOVT. CREDIT AGS.
U.S. GOVERNMENT
PRIVATE
,
2
FA^M BUS; N^-fS (FICr ♦ FLB>
.2
NOf:* R -. K'.'t.c,
(BO
•
coRPcr.TL e v z :•
(Fnma)
.1
s*l AssrciftT'ii.*: (Fhlb)
44
•
45
46
-.2
-.3
47
48
49
50
.1
•
•
*
-.2
1.3
.2
.3
.1
.3
.7
.1
.3
.7
.6
.7
.1
•
.1
.1
.1
•
.1
.1
.1
•
«
•
.1
*
•
.1
.2
.1
«
.4
•
•
*
.1
.2
.1
•
*
.6
.2
•
•
.3
.?
•
IV/73 FIGURES ARE
-.5
-.3
tentative
•
.1
E5TTMATES BASEr ON i n c o m p l e t e INFORMATION,
.4
44
45
46
47
48
49
so
8 FEBRUARY 1974
MISCELLANEOUS II
MISCELLANEOUS II
24
MISCELLANEOUS FINANCIAL CLAIMS (CONTINUED)
(BILLIONS OF DOLLARS)
24
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
1968
1969
1970
I
1972
I III
1971
II
1973
III
(C) LIFE INSURANCE CLAIMS
DEFERRED AND UNPAID PREMIUMS
(ASSET-LIFE INSURANCE)
LIAB.-HOUSEHOLDS
.9
.3
1.0
2.5
.9
.3
.5
3.3
1.2
2.3
8.6
.5
.4
.1
.4
.6
1.3
.5
.8
1.4
.5
1.0
1.3
.5
.8
1.3
.5
.9
1.4
.5
.9
1.4
.5
,9
1.4
.5
1.0
1.5
.5
1.0
3.6
1.2
.5
3.7
1.4
3.8
1.5
.5
3.7
1.4
3.7
1.4
1.2
3.7
1.5
.4
.7
1.1
3.8
1.4
.4
.7
1.1
3.A
1.5
.5
•A
1.1
3.8
1.5
.5
.8
1.1
-1.0
21.5
1.5
1.7
16.2
6.8
21.4
19.0
31.5
13.1
.5
-.9
1.3
-.7
-5.2
.1
-.4
5.7
1.4
1.2
6.0
.4
»
3.3
.6
.7
1.3
#
1.4
.*
-1.1
-.6
.9
LIFE COMPANY RESERVES
(ASSET-HOUSEHOLDS)
LIAB.< •LIFE INSURANCE COS.
ACCIDENT AND HEALTH
POLICY DIVIDEND ACCUM.
(0) NONLIFE INSURANCE CLAIMS
3.4
1.4
.7
.8
LIAB.-OTHER INSURANCE
ASSET-HOUSEHOLDS
FARM BUSINESS
n o n c o r p . BUS.
CORPORATE BUSINESS
nonfarm
5
6
7
A
9
(E) UNALLOCATED ASSETS ♦ LIAB.
10
-1.5
1.8
5.0
-.8
-.6
*
-1.2
.3
.1
1.4
.8
*
-2.5
.2
24.2
1.0
.9
.2
.6
.1
.5
.1
.4
.8
.1
1.1
.1
-.2
.7
.2
1.6
.2
-1.0
.7
.6
1.3
.8
1.2
.2
1.6
.1
1.8
-.1
1.9
.2
-3.6
4.0
2.4
1.0
.2
.5
1.9
1.7
.6
-.9
.5
6.8
6.4
-1.3
1.2
.5
5.0
5.5
-1.0
.1
.3
•6
1.0
-2.3
1.4
.5
24.5
16.4
-.2
6.0
2.2
5.8
5.9
1.1
-1.5
.3
3.7
-.5
4.7
.5
-.7
11.9
-9.7
3.0
11
12
13
14
15
7.3
.2
.5
.2
-.1
11.4
-.3
-.1
.7
.5
5.7
-.6
1.2
-.7
.9
2.7
16
17
18
19
20
.4
.1
.6
•
.1
.4
.5
•
.5
21
5.1
4.1
.2
3.5
*
.3
9.1
*
21.2
-
-
.8
2.2
COMMERCIAL BANKING
COMMERCIAL BANKS
BANK AFFILIATES
FOREIGN BANKING AGENCIES
BANKS IN U.S. POSS.
21
22
23
24
25
6.6
-12.1
15.3
-3.3
13.1
-5.1
20.8
2.6
21.7
5.?
15.5
-1.0
.7
11.0
-8.5
1.9
FLOATS IN COML. BANK STMNT
ON INTERBANK DEPOSITS
ON INTERBANK LOANS
LESSS ON MEMBER BK. RES.
26
27
28
29
.1
.5
-.2
.2
3.1
-.5
3.5
*
-.8
-.1
-1.0
-.2
-.6
-1.1
1.0
.5
1.5
2.3
*
.7
10.5
-.2
10.8
30
31
32
33
34
35
36
37
5.1
.7
•
•
.3
.3
•4
.1
2.8
-.8
.1
-.2
7.2
.3
1.0
•A
.3
.9
-2.6
.6
5.6
2.1
.6
.3
.8
.5
-.2
.5
16.2
4.4
.8
1.4
.3
.5
.5
.6
7.8
-1.1
2.9
-.3
-1.1
.4
-.3
.5
2.7
4.8
-1.6
-.9
2.9
.5
-.2
.6
19.9
3.9
-.9
2.8
-1.0
.5
-.1
.5
17.2
5.7
1.6
.9
1.8
.5
1.2
.6
-1.1
38
39
40
1.9
1.4
.1
1.6
.3
.9
2.0
-.9
5.9
1.7
.1
5.9
1.5
-.6
.2
-5.6
1.9
10.2
1.1
3.4
.3
8.2
-.9
.1
.8
.3
.6
.1
.3
»
1.2
2.7
.3
1.3
-.3
.1
*
IV/73 FIGURES ARE TENTATIVE ESTTMATFS BASED ON INCOMPLETE INFORMATION.
16
17
18
19
20
.5
26
27
28
29
.4
«
.
5.1
• 2.8
»
2.0
.3
.7
.3
#
_
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE
REITS
MONETARY AUTHORITIES
-.4
2.5
-1.7
-l.«
.3
23
24
25
.5
.3
.1
11
12
13
14
15
9.3
10.9
-3.2
1.3
.3
.
*
10
TOTAL LIABILITIES
U.S. GOVERNMENT
U.S. GOVT.-WITHOUT LEVELS
REST OF THE WORLD
SPONSORED CREDIT AGENCIES
1.4
1.8
5.9
3.7
.3
.8
1.1
22
.6 NET TOTAL (LIAB. LESS ASSETS)
4.2
-.2
12.5
3.5
1.1
.A
•A
1.0
1.3
.5
.2
.6
3.9
.1
.2
TOTAL ASSETS
REST OF THE WORLD
SPONSORED CREDIT AGENCIES
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE
PRIVATE PENSION FUNDS
REITS
30
31
32
COMMERCIAL BANKS
FOREIGN BANKING AGENCIES
BANKS IN U.S. POSSESSIONS
38
39
40
36
37
8 FEBRUARY 1974
TOTAL CLAIMS
TOTAL CLAIMS
25
TOTAL FINANCIAL ASSETS ANO LIABILITIES
(BILLIONS OF DOLLARS)
25
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
I
1972
I
1973
TOTAL FUNDS RAlSpD AND AOVANC e D IN CREDIT MARKETS (1)
1
2
3
4
5
6
7
8
9
94.6
13.4
3.1
78.1
9.8
29.6
2.8
5.6
30,3
91.4
-3.6
3.3
91.7
10.7
32.2
3.2
7.4
38.3
97.5
12.8
3.0
81.6
11.4
22.9
3.2
5.3
38.8
146.7
25.5
5.7
115.5
17.0
38.3
4.1
8.7
47.4
166.1
17.3
3.4
145.4
12.3
63.3
4.9
10.4
54.5
184.2
9.7
6.7
167.7
8.8
70.9
7.6
12.6
67.7
161.6
10.9
2.1
148.6
13.9
67.2
4*2
10.5
52.8
213.0
33.4
5.2
174.3
11.4
73.7
6.5
12.8
69.9
219.2
32.7
14.r
172.2
6.4
71.7
7.0
14.2
73.0
175.6
1.2
7.1
167.3
6.3
73.1
7.7
13.3
66.9
171.8
-9.7
.7
180.8
12.1
77.0
8.2
13.6
70.0
10
11
12
13
14
IS
16
17
18
19
18.3
3.5
1.2
.1
1.1
.2
5.7
.7
5,8
34.0
8.8
1.7
4.2
.2
4.1
.5
8.4
1.3
4.8
12.5
8.2
-3.1
-1.9
.1
1.8
.4
1.7
2.6
2.6
16.5
4.3
2.0
-.4
1.6
*
•6
4.2
2.9
1.2
28.4
6.2
3.3
.7
.8
2.0
.6
9.1
6.3
-.6
48.7
19.1
3.6
2.2
4.2
6.0
.6
8.4
5.5
-1.0
30.4
4.6
-1.9
1.6
6.8
4.0
.6
10.1
4.7
-.1
31.6
5.3
1.5
1.1
-5.8
5.6
.6
16.1
8.0
-.8
50.3
11.4
10.1
3.3
7.9
4.6
.6
8.3
6.3
-2.3
55.2
23.7
-4.7
3.3
5.7
11.8
.6
8.9
7.0
-1.1
69.9
28.5
7.1
3.8
1.9
11.8
.6
8.6
6.5
1.3
20
112.9
125.3
109.9
163.2
194.5
232.9
192.0
244.6
269.6
230.8
241.7
12.5
3.9
.5
5.9
2.3
21
22
23
24
25
40.8
30.8
•6
2.5
6.9
-5.0
-2.1
•6
-2.5
-1.0
-9.6
-14.7
.7
6.9
-2.4
9.6
3.1
1.1
3.5
2.0
28.3
12.5
1.3
13.0
1.5
6.5
3.6
.9
1.2
.8
28.8
14.8
2.3
6.4
5.3
-16.7
-19.2
.3
5.9
-3.7
29.2
16.0
1.5
13.9
-2.1
61.8
40.4
.9
15.1
5.3
FUNDS RAISED IN CREDIT MKTS. BYt
170.1
NO N F I N a NCIAL s e c t o r s
U.S. GOVERNMENT
14.7
4 .B
F OREIGN
PRIVATE DOMESTIC
150.6
S. ♦ L» g o v e r n m e n t s
10.7
HOUSEHOLDS
61.8
FAR M BUSINESS
7.5
NONF A R M NONCORP. BUS.
9.4
C O R P O R A T E BUSINESS
61.1
19.3
12.9
1.8
-1.4
1.4
-4.3
.6
7.8
2.4
-1.9
FINANCIAL SECTORS
SPONSORED CREDIT AGENCIES
COMMERCIAL BANKS
BAN K AFFILIATES
F OREIGN BANKING AGENCIES
SAVINGS ♦ LOAN ASSNS.
other insurance companies
finance companies
REITS
OPEN-END i n v e s t m e n t c o s .
* TOTAL F UNOS RAISED AND
189.4
ADVANCED IN CREDIT MARKETS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
NET A C Q UISITIONS BY 1 PRIVATE
38.9 DOMESTIC NONFINANCIAL SECTORS 21
13.0
22
HOUSEHOLDS
NONFARM NONCORP. BUSINESS
23
2.3
24
17.2
corporate business
STATE ♦ LOCAL GOVERNMENTS
25
6.3
1.5 U.S. GOVERNMENT
26
26
4.9
2.9
2.8
3.2
:.3
1.7
4.2
2.0
1.9
-1.3
4.8
27
28
29
93.1
3.2
3.7
80.4
9.0
4.2
101.1
9.9
5.0
142.3
2.8
8.8
172.0
6.0
.2
198.2
20.0
9.3
167.2
2.8
-7.9
201.0
6.1
-.4
247.6
13.0
20.5
211.0
24.5
3.5
182.8
30.0
1.4
30
31
32
33
34
38.8
38.3
35.2
33.3
-1.0
2.6
.1
50.6
50.3
-.1
.1
.3
69.8
68.8
-.2
1.0
.3
85.3
80.1
1.7
3.3
.1
76.1
73.5
-.1
1.9
.9
88.7
82.5
1.3
4.5
.3
114.2
106.1
2.3
5.4
.5
88.6
85.2
1.4
2.1
-.1
79.8
72.2
4.5
3.1
.1
58.5
57.0
-1.3
2.7
.1
COMMERCIAL BANKING
COMMERCIAL BANKS
.5
.1
18.3
12.7
3.9
1.4
.2
35
36
37
38
47.3
10.2
4.3
1.3
48.8
9.9
3.2
1.6
51.1
11.6
4.1
1.5
80.1
29.4
9.9
2.6
95.9
36.5
10.0
2.8
83.6
26.8
5.6
3.2
96.0
38.6
10.2
2.3
106.6
38.6
6.1
2.8
99.9
41.7
11.7
3.9
94.5
33.4
6.1
2.5
71.6
17.3
2.0
3.4
68.3
14.6
2.5
2.8
private
39
40
41
42
9.0
5.8
4.7
2.7
8.4
6.0
5.2
2.6
9.0
6.9
6.1
4.9
U.8
7.4
6.9
6*2
13.6
5.8
7.3
5.8
14.4
6.7
8.2
6.6
13.8
5.4
7.3
5.9
14.0
6.4
6.4
6.8
16.4
7.5
7.6
6.2
12.1
5.2
11.8
6.3
14.3
6.8
5.2
6.9
43
44
45
46
5.1
.2
3.5
.5
8.0
.9
2.6
.5
.7
2.1
1.7
2.4
4.1
2.5
.4
-1.2
10.8
4.8
-1.8
.4
10.1
4.2
-2.5
.3
12.0
3.2
-1.1
-1.7
16.4
6.2
-2.8
5.5
9.9
4.6
-4.6
-4.9
10.5
5.1
-2.5
3.9
47
2.4
1.3
11.0
27.3
10.7
4.6
14.1
12.8
36.7
-8.1
151.5 f i n a n c i a l i n s t i t u t i o n s
SPONSORED CREDIT AGENCIES
12.8
FEDERAL RESERVE SYSTEM
12.0
bank
affiliates
FOREIGN BANKING AGENCIES
BANKS IN U.S. POSSESIONS
27
28
29
30
31
32
33
34
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
CREDIT UNIONS
35
36
37
38
15.0
7.4
8.2
7.1
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S. ♦ L. GOVT.* RTR. FUNDS
OTHER INSURANCE COMPANIES
39
40
41
42
10.5
5.3
.3
-.4
9.7
1.6
-3.0
2.4
FINANCE COMPANIES
REITS
OPEN-ENO INVESTMENT COS.
SECURITY BROKERS ♦ DEALERS
43
44
45
46
-7.6
-2.5 REST OF THE WORLD
nonbank
finance
47
TOTAL CLAIMS AND T h FIR RELATION TO TOTAL FINANCIAL ASSETS
TOTAL CREDIT MARKET DEBT
(FROM P RECEDING TABLE)
OTHER LIABILITIES)
OFFICIAL F OREIGN EXCHANGE
.1
TREASURY CURRENCY
.3
189.4
1
112.9
125.3
109.9
163.2
194.5
232.9
192.0
244.6
269.6
230.8
241.7
2
3
2.1
.4
.3
.3
-2.5
.6
-1.7
.5
-.2
.5
-.2
.4
-.5
.4
-.3
.4
-.9
.4
•
.8
.1
.3
4
5
6
7
8
48.2
35.5
14.8
20.7
12.7
6.7
-1.3
8.2
-9.5
7.9
69.2
52.2
14.3
38.0
17.0
99.6
58.8
17.4
41.4
40.8
109.1
62.7
20.4
42.3
46.4
95.0
66.9
15.8
51.0
28.2
107.0
61.4
20.6
40.9
45.6
119.8
76.0
33.2
42.8
43.8
147.1
102.3
20.3
82.0
44.8
97.9
64.8
15.5
49.3
33.1
47.8
42.8
-12.0
54.8
4.9
9
20.1
20.8
24.3
28.3
28.0
30.9
28.8
30.2
30.0
34.4
29.1
10
11
12
13
14
6.6
18.9
3.0
-2.2
15.1
-6.7
20.0
-3.1
-2.8
26.7
-.8
6.5
-3.1
-3.6
10.8
3.8
4.6
1.8
-3.4
8.4
8.9
15.9
.7
-5.0
20.9
-9.6
16.6
9.1
-8.2
36.8
2.1
14.6
1.5
-5.3
27.4
7.2
23.7
4.1
-4.7
27.2
-13.7
6.2
8.8
-8.3
39.1
-8.6
28.0
6.0
-9.0
40.8
-7.4
15.3
11.1
-8.4
43.3
-31.0
15
3.6
2.0
4.5
5.6
2.0
5.1
7.0
-16.7
17.1
4.1
30.1
16
228.8
189.6
215.8
310.5
375.4
408.8
375.1
435.5
495.3
425.3
403.0
17
18
19
.4
.5
-1.6
-.6
2.1
-4.8
.1
2.2
-1.7
-.2
2.3
.3
1.4
1.7
-4.1
-.9
-.1
-6.3
1.6
2.2
-3.3
.8
5.5
-3.5
1.4
-4.7
-10.4
-2.6
4.6
.7
-4.0
-1.6
-11.1
20
21
22
.2
.7
2.3
.2
.1
8.6
-.1
.1
-1.5
•
.2
1.8
-.2
-.3
3.5
.1
.2
5.0
-.1
.7
-1.0
-.1
-.5
21.5
-.1
-1.1
1.5
.3
.6
1.7
1.3
16.2
23
226.2
184 r. i
216.7
306.1
373.4
410.7
374.9
411.7
508.7
419.9
402.1
-
DEPOSITS AT FINANCIAL INSTS.
BANKING SYSTEM
DEMAND DEP. ♦ CURRENCY
TIME ♦ SAVINGS DEPOSITS
SAVINGS INSTITUTIONS
4
5
6
7
8
30.0
INSURANCE ♦ PENSION RESERVES
9
-8.7
16.9
10.3
-7.0
23.9
security credit
trade sebt
87.4
57.5
39.4
18.1
30.0
10
11
PROFIT TAXES PAYABLE
12
NONCORP. PROPRIETORS* EQUITY 13
14
MI SCELLANEOUS
interbank
claims
311.6 TOTAL DEBT ABOVE
- FLOATS NOT INCL. IN ASSETS
DEMAND OEPOSITS-U.S. GOVT.
l.T
1.4
OTHER
TRADE CREDIT
-4.5
- liabilities not allocated
AS ASSETS
•
treasury currency
taxes payable
.2
miscellaneous
•6
312.2
TOTALS A L L OCATED TO SECTORS
AS ASSETS
(1) INCLUDES C ORPORATE EQUITIES.
IV/73 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
1
2
3
15
16
17
18
19
20
21
22
23
8 FEBRUARY 1974
SAVING BY INDIVIDUALS
SAVING BY INDIVIDUALS
26
AMOUNT AND COMPOSITION OF INDIVIDUALS* SAVING C1)
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
SEASONALLY ADJUSTED ANNUAL RATES
1973
I
1972
I III
IV
\
I
I
II
1973
III
127.9 I NCREASE IN FINANCIAL ASSETS
DEMAND DEPOSITS ♦ CURRENCY
20.0
SAVINGS ACCOUNTS
57.3
1
2
3
2
3
72.0
12.5
30,3
61.3
1.6
6.0
79.6
9.6
44.4
99.9
11.0
70.5
124.9
12.9
75.8
124.9
13.1
63.0
127.2
14.6
76.1
133.1
10.2
70.6
121.0
13.6
93.1
129.6
10.3
64.5
121.3
8.6
37.2
4
5
6
7
8
2.3
.4
5.3
-.2
-.8
29.7
-.4
9.8
2.8
9.6
-2.3
.3
-10.7
2.7
-.5
-14.7
2.4
-11.7
-3.5
-.9
5.1
3.3
1.5
-.5
1.3
11.4
3.8
2.6
8.4
1.5
4.1
3.3
-5.8
1.3
1.3
18.9
3.1
12.0
.4
3.5
-18.2
3.9
-8.0
5.3
2.1
15.8
3.6
10.6
9.5
-2.7
39.4
1*9
8.1
17.6
7.3
8.7
5.9
-.3
1.2
-.6
SECURITIES
♦
U.S. SAVINGS BONDS
5
OTHER U.S. TREASURY SEC.
6
U.S. GOVT. AGENCY SEC.
7
STATE ♦ LOCAL OBLIGATIONS 8
9
10
11
12
4.7
.7
5.8
-13.7
7.4
4.8
4.8
-9.0
10.1
-1.5
2.6
-5.2
8.2
-3.9
1.2
-6.6
4.9
.4
-.6
-5.2
.8
.7
-1.0
-5.5
3.9
-1.8
-.1
2.0
6.5
5.0
-.8
-10.9
-.9
-8.7
-2.3
-9.8
-.4
2.1
-1.1
-5.8
-.3
8.0
1.3
-4.6
4.8
1.5
-1.9
-1.9
CORPORATE ♦ FOREIGN BONDS 9
COMMERCIAL PAPER
10
INVESTMENT COMPANY SHARES 11
OTHER CORPORATE EQUITIES
12
13
14
15
16
IT
4.6
2.9
6.4
6.2
6.8
4.9
2.9
6.3
6.6
3.1
5.1
3.3
7.1
8.8
3.6
6.1
5.2
7.3
9.7
4.9
7.2
4.6
5.7
10.5
3.1
7.7
5.0
7.7
10.6
6.5
7.9
4.5
5.8
10.6
3.5
7.7
4.4
7.3
10.8
3.3
7.7
5.2
8.2
8.8
2.5
7.7
4.0
5.7
17.0
4.6
7.6
5.6
9.5
6.4
7.1
7.6
5.0
7.4
10.0
11.9
18
19
20
21
22
132.6
21.1
26.8
84.0
.6
143.0
22.0
29.2
90.8
1.1
140.2
19.6
30.4
91.3
-I,1
165.8
26.8
34.3
103.5
1.1
190.5
34.3
39.5
117.4
-.8
214.4
40.1
41.5
131.1
1.7
193.8
35.2
39.9
120.2
-1.5
200.0
35.4
42.2
122.9
-.5
214.2
38.1
42.1
132.2
1.8
216.3
40.8
42.1
132.8
.6
217.2
41.3
41.8
132.8
1.3
209.8 i
NONFARM HOMES
40.1
NONCORP. BUS. PLANT
40.0
CONSUMER DURABLES
126.7
INVENTORIES
3.0
23
24
25
26
95.3
8.3
19.6
67.4
104.5
8.7
21.3
74.6
112.4
9.0
22.6
80.7
121.3
9.4
24.4
87.5
130.6
10.2
26.7
93.8
142.0
10.4
28.6
103.0
131.1
10.0
26.7
94.4
134.5
10.1
27.4
97.0
137.5
10.2
27.8
99.4
140.6
10.4
28.5
101.7
143.2
10.5
28.6
104.2
146.5
10.6
29.4
106.5
27
28
29
30
31
37.3
12.8
7.2
16.7
.6
38.5
13.3
7.9
16.2
1.1
27.8
10.6
7.7
10.6
-1.1
44.5
17.4
9.9
16.0
1.1
59.8
24.1
12.8
23.6
•.8
72.4
29.7
12.9
28.2
1.7
62.7
25.2
13.1
25.8
-1.5
65.6
25.2
14.9
25.9
-.5
76.7
27.9
14.3
32.8
1.8
75.6
30.3
13.6
31.1
.6
74.0
30.9
13.3
28.6
1.3
63.3
29.5
10.6
20.2
3.0
32
33
34
35
36
37
38
41.9
14.6
6.8
10.0
2.9
1.3
6.3
39.0
16.1
7.0
10.4
-3.4
2.6
7.1
30.6
12.5
8.0
6.0
-1.8
2.3
3.6
54.6
24.1
U.2
U.2
2.6
1.0
4.4
85.1
38.4
13.2
19.2
4.7
.9
8.6
88.4
39.4
15.7
22.9
-5.0
2.0
13.3
85.1
40.8
13.9
18.9
2.5
1.0
8.0
97.3
43.5
14.6
26.2
1.2
.9
11.0
90.7
38.3
14.9
25.7
-3.9
1.2
14.5
90.7
43.0
18.9
24.7
-5.4
1.5
7.9
95.1
40.7
18.2
22.5
-4.1
3.4
14.4
76.9 INCREASE IN DEBT
35.4 MTG. DEBT ON NONFARM HOMES
10.6
NONCORP BUS. MORTGAGE DEBT
18.8 CONSUMER CREDIT
-6.5 SECURITY CREDIT
2.1 POLICY LOANS
16.4 OTHER DEBT
39
40
41
67.4
6.2
16.7
60.1
6.6
16.2
76.8
8.8
10.6
89.8
9.7
16.0
99.7
10.5
23.6
109.0
10.6
28.2
104.8
10.6
25.8
101.4
10.8
25.9
107.0
8.8
32.8
114.5
17.0
31.1
100.2
6.4
28.6
42
43
44
2.5
•
42.1
2.5
•
34.7
.9
-.1
56.6
•8
•
63.3
1.4
•
64.2
1.5
-.1
68.9
1.2
•
67.2
2.1
-.1
62.6
1.0
-.1
64.4
2.0
-.1
64.5
1.0
-.1
64.3
39.8
38.2
56.2
60.2
49.7
53.9
45.8
54.4
50.0
51.0
51.1
63.3
45
45
8.2
14.4
13.5
13.2
19.1
46
1
46
2.3
-3.5
.4
3.2
14.4
15.0
21.4
PRIVATE LIFE INSURANCE RES.
PRIVATE INSURED PENSION RES.
PRIVATE NONINSUREO PEN. RES.
g o v t . In s u r a n c e ♦ p e n . r e s .
MISCELLANEOUS FINAN. ASSETS
NONFARM HOMES
NONCORP. BUS. PLANT
CONSUMER DURABLES
IET INV. IN TANGIBLE ASSETS
NONFARM HOMES
NONCORP. BUS. PLANT ♦ EQUIP.
CONSUMER DURABLES
INVENTORIES
114.3
10.0 - GOVT. INSURANCE ♦ PEN. RES.
20.2 - NET INVESTMENT IN CONS. DUR.
- CAPITAL GAINS DIVIDENDS
FROM INVESTMENT COMPANIES
1.6
-.1 - n e t SAVINA BY FARM CORPS.
82.4
(I) COMBINED STATEMENT FOR HOUSEHOLDS# FARM.
AND NONFARM NONCORPORATE BUSINESS.
IV/73 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION.
13
14
15
16
17
18
19
20
21
22
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
41
42
43
8 FEBRUARY 1974
DISCREPANCIES
DISCREPANCIES
27
27
DISCREPANCIES - SUMMARY FOR SECTORS AND TRANSACTIONS
(BILLIONS OF DOLLARS)
SEASONALLY ADJUSTED ANNUAL RATES
1968
1969
1970
_ _
1971
1972
1973
SEASONALLY ADJUSTED ANNUAL RATES
________________________________________________________________________________________ _______
(
i97g
(
ig73
I III
JV _
I___ I_______ II________________
SECTQR DISCREPANCIES
1
2
3
4
5
6
5.3
-2.3
8.4
-.7
.6
-.5
11.7
3.5
3.4
5.0
.4
-2.3
7
8
9
10
-.2
.1
_
-.1
1.7
.1
11
12
13
1*
15
16
-.2
.3
-.1
-.7
-.2
.6
.
«
1.6
.1
*
.2
,9
.4
-1.4 TOTALt ALL SECTORS
HOUSEHOLDS
■19.0
CORPORATE BUSINESS
11.1
STATE ♦ LOCAL GOVERNMENTS
4.3
U. S. GOVERNMENT
2.3
FOREIGN
-2.1
-.4
5.7
.7
.8
-1.2
7.3
-3.2
13.0
10.7
-.1
-10.8
3.1
-15.1
15.0
7.7
1.0
-3.1
-4.0
•15.0
13.5
3.7
1.0
-4.8
-.3
-20.5
12.5
8.3
3.5
-3.4
20.8
-11.1
30.2
8.1
1.3
-7.7
-14.5
-14.4
15.2
6.8
.8
-16.5
2.6
-13.5
15.5
.7
2.4
1.6
-2.8
-13.?
12.3
3.0
-1.4
-2.0
-.1
.1
-.5
-2.3
»
•
-1.7
-2.3
-.1
-1.5
-2.5
-.1
-.7
-.1
-6.3
-.2
-.9
-4.2
-.2
-3.0
-1.*
-.1
•
•
2.1
.1
-1.3
«
*
«
-1.6
2.0
.7
1.1
1.0
.1
-1.0
PRIVATE NONBANK FINANCE
SAVINGS ♦ LOAN ASSNS.
MUTUAL SAVINGS BANKS
LIFE INSURANCE
OTHER INSURANCE
f i n a n c e n .e .c .
ITAL. ALL TYPES
TREASURY CURRENCY
DEMAND DEPOSIT MAIL FLOATS:
U.S. GOVERNMENT
'
OTHER
.3
.2
.1
.1
-.8
.7
-.6
-.2
*
.2
-.6
.2
-.8
-.7
-.2
.6
.8
-1.3
-1.1
-1.0
-.2
.7
.4
-1.0
.4
-1.0
1.1
1.0
.8
-1.5
_
-2.2
1.6
-.5
.9
1.0
-.1
.3
-3.9
-1.7
-2.0
.1
.7
-1.0
-.9
-.5
-1.1
.9
.7
-.9
-1.4
-2.4
1.2
.A
.?
-1.1
«
FINANCIAL SECTORS
SPONSORED AGENCIES
MONETARY AUTHORITIES
C OMMERCIAL BANKS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
TPANSACTION DISCREPANCIES
1
2
5.3
.2
11.7
.2
5.5
-.1
7.3
»
3.1
-.2
-4.0
.1
-.3
-.1
20.8
-.1
14.5
-.1
2.6
.3
-2.8
-1.4
*
3
4
.4
.5
-.6
2.1
.1
2.2
-.2
2.3
1.4
1.7
-.9
-.1
1.6
2.2
.8
5.5
1.4
-4.7
-2.6
4.6
-4.0
-1.6
1.7
1.4
5
6
7
8
-1.6
.7
2.3
2.7
-4.8
.1
8.6
6.1
-1.7
.1
-1.5
6.4
.3
.2
1.8
3.0
■4.1
-.3
3.5
1.1
-6.3
.2
5.0
-2.1
-3.3
.7
-1.0
-.5
-3.5
-.5
21.5
-3.0
•10.4
-1.1
1.5
-1.1
.7
.6
1.7
-2.8
-11.1
1.3
16.2
-3.A
-4.5
.2
.6
. -.8
IV/73 FIGURES ARE TENTATIVE ESTIMATES RASED ON INCOMPLETE INFORMATION.
TRADE CREOIT
TAXES PAYABLE
MISCELLANEOUS
NONFINANCIAL
1
2
3
4
5
6
7
8
@FedFRASER