Full text of Z.1 Financial Accounts of the United States : March 1970 : Annual Total Flows & Year-End Assets and Liabilities, 1945-1968

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FLOW OF FUNDS
ACCOUNTS
1945-1968
MARCH, 1970

ANNUAL TOTAL FLOWS
& YEAR-END ASSETS
AND LIABILITIES

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Price: $1.00 a copy; in quantities of 10 or more sent to one
address, 85 cents each. Copies may be obtained from Pub­
lications Services, Division of Administrative Services, Board
of Governors of the Federal Reserve System, Washington, D.C.,
20551, and remittance should be made payable to the order
of the Board of Governors of the Federal Reserve System in
a form collectible at par in U.S. currency. (Stamps and
coupons not accepted)

CONTENTS

*
INTRODUCTION
Concept of accounts

1.8

11 Organization of accounts

1.25

111

Relation to income and product accounts

1.28

IV

Definition of sectors and transaction categories

1.32
1.45

Bibliography

SECTOR AND TRANSACTION TABLES
These lists follow the sequence of sectors and transaction types used in the summary matrix
on page 1 and include detail on subcategories not shown separately in the matrix. Page sequence
is somewhat different for a few items.

Annual
flows
1
2
4

24
6
44

Year-end
outstandings
48
49
50
66
84

Summary Tables
Summary matrix, 1968: All sectors
Nonbank finance
Income and product accounts: GNP and gross saving
Credit market summary
Total financial claims
Private capital outlays and borrowing
"Sources n.e.c." detailed

1.3
AU� "".'
IL,

Digitized forU7o
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Annual
flows

Year-end
outstandings

8
88

52
90

10

10

54
54

12
12

54
54

10

Sector Tables
Households, personal trusts, and nonprofit organizations
Individuals' saving - S.E.C. presentation
Business
Total nonfinancial business
Corporate nonfinancial business
Noncorporate business
Farm business
Nonfarm noncorporate business
Governments
State and local government general funds
U.S. Government

14
14

56
56

14

56

16
16

58
58

18

60

18
18
18

60
60
60

20
20
20
20

62
62
62
62

Insurance and pension funds
Life insurance companies
Private pension funds
State and local govt. employee retirement funds
Other insurance companies

22
22
22
22

64
64
64
64
64

Finance not elsewhere classified
Finance companies
Security brokers and dealers
Open-end investment companies
Agencies of foreign banks
Banks in U.S. territories and possessions

22

64

Rest of the world

24

66

Total financial claims

46

Federally sponsored credit agencies
Banking system
Monetary authorities
Commercial banks
Private nonbank financial institutions
Savings institutions
Savings and loan associations
Mutual savings banks
Credit unions

Transaction account discrepancies

1.4


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Annual
flows

Year-end
outstandings

2
26
28
28
26
24

68
70
70
68
66

Gross saving and capital expenditures
Gold, foreign exchange, and Treasury currency
Demand deposits and currency
Time deposits and savings accounts
Life insurance and pension fund reserves
Interbank claims

24
30
30
32
32
32
32
34
34
34
34
36
36
38
38
38
38
38
38

66
72
72
74
74
72
74
76
76
76
76
78
78
80
80
80
80
80
80

Credit market instruments
U.S. Government securities
Sponsored credit agency securities
State and local government obligations
Corporate and foreign bonds
Corporate shares
Mortgages - total
home (1- to 4-family)
multifamily reside�tial
commercial
farm
Consumer credit
Bank loans not elsewhere classified
Other loans
Open market paper
Finance company commercial loans
U.S. Government loans
Sponsored credit agency loans
Life insurance policy loans

40
40
40
40

82
82
82

Security credit
Trade credit
Profit taxes payable
Proprietors' equity in noncorporate business

42
42
42
44
44
44

84
84
84
86
86
86

Miscellaneous claims
Deposits
Equities
Life insurance payables
Nonlife insurance payables
Unallocated

46

Transaction Tables

Sector discrepancies

I.5


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INTRODUCTION

*
This publication presents a full set of annual of selected tables, or listings of individual time
tables on U.S. flow of funds accounts for all series. 1
periods from the end of 1945, the earliest date
Flow of funds accounts have been under de­
for which the accounts have been assembled, velopment at the Federal Reserve since 194 7
through 1968. The tables included cover the and have been published in several forms over
summary information, sector statements of sav­ that period. Descriptions and definitions of the
ing and investment, and sector asset and liabil­ successive forms of accounts have appeared
ity positions that appear regularly in the Federal both in the Federal Reserve Bulletin and in
Reserve Bulletin. In addition they include other Board publications with varying amounts
transaction statements that summarize funds of detail as to coverage and derivation.2 In the
raised and advanced in individual types of following pages, that descriptive material is
credit mark�ts, as well as outstanding positions pulled together in a form applicable to the flow
in financial claims traded in those markets. of funds accounts as presented in this publica­
A few of these market statements appear in tion and in the Federal Reserve Bulletin. The
the Bulletin presentations in very summary four sections that follow discuss ( 1 ) the basic
form, such as deposits and U.S. Government concepts of the system as a description of the
securities. The tables are consistent in defini­ economy, (2) the accounting structure, (3)
tion and data with those in the February 1970 the specific accounting relationship to income
Bulletin and supersede all earlier publications. and product accounts, and (4) definitions of
The flow of funds accounts exist in quarterly sector and transaction categories in the system.
form - stocks, flows, and flows seasonally ad­ A separate publication, which is in preparation,
justed - for the period from 1952 to the pres­ describes the statistical sources and derivation
ent, but at present there is no schedule for procedures used to put the accounts together.
printing the quarterly material within the next
year. The historical quarterly material can be
1 Inquiries should be addressed to the Flow of Funds Sec­
Division of Research and Statistics, Board of Governors
made available to users in a variety of forms, tion,
of the Federal Reserve System, Washington, D.C. 20551.
however, such as computer data tapes, printings
2 See Bibliography on page 1.45.


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1.7

CONCEPT OF ACCOUNTS
The flow of funds system ur 11ational accounts
is designed to bring the many financial activities
of the U.S. economy into explicit statistical
relationship with one another and into direct
relation to data on the nonfinancial activities
that generate income and production. The pur­
pose of the accounts is to provide, systemati­
cally, the aggregate measures of transactions
needed to identify both influences of the non­
financial economy on financial markets and
reciprocal influences of financial market devel­
opments on demand for goods and services,
sources and amounts of saving and investment,
and the structure of income. The accounts are
intended to provide an empirical base for ex­
ploring such questions as the sensitivity of
borrowing to interest rates as against other
influences, the effects of cost and supply of
credit on physical investment demand, the role
of money holdings in the public's structure of
assets and liabilities, and the relation of finan­
cial positions - levels of assets and liabilities
- to demands for goods and services, for
credit, and for investment in financial claims.
The flow of funds system focuses on such
questions in a macroeconomic setting that
covers, as far as possible, all of the institutional
groups and all types of transactions in the
economy. Some elements of the system exist
elsewhere and separate from the structure - as
statements of, for example, corporate finance,
government finance, balance of payments,
money and banking activities, individuals'
saving, r,sidential finance, and security market
activity. These elements are incorporated into
the system as integral parts, together with in­
formation from income and product accounts
on saving and capital formation. Each such
element is one aspect of an integrated economy,
and each connects with the others in several
ways. The security markets, for example, are


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a point of intersection among business devel­
opments generating long-term credit needs,
international capital movements, bank credit
availability, flow of credit through financial
institutions, and the financing of government
deficits. When all of the relevant information
is put together in mutually consistent fashion in
one framework, each element is seen as part
of a broader macroeconomic system, and its
connection with the other parts can be made
explicit enough for analysis. Like the national
income and product accounts published by the
Department of Commerce, the flow of funds
system is a social accounting structure that
records both the payment and the receipt
aspects of any transaction included in the sys­
tem and that includes a balance in each ac­
count of the structure between total payments
and total receipts. The flow of funds accounts
can in fact be viewed as a direct extension of
the Commerce income and product structure
into the financial markets of the economy, with
the purpose of establishing direct linkages be­
tween the Commerce data on saving and invest­
ment - the capital account in the income and
product structure - and the lending and bor­
rowing activities that are associated with saving
and investment.

1.8

MODEL ACCOUNT STRUCTURE
The nature of those linkages and, more gen­
erally, the relation of financial markets to the
nonfinancial activities of the economy are
portrayed in Table 1. The table is a severely
condensed and simplified form of the flow of
funds matrix on page 1 of the tables that maps
more completely the basic structure of the flow
of funds system. 3 The arithmetic of the matrix
3 The note to Table 1 is important for working out the
relation between the general description in this section and
the more complex form that financial activity takes in the
actual economy.

is fairly simple, and when applied to the full
system of accounts it provides a basis for
understanding both the accounting relation­
ships among the time-series tables in this publi­
cation and the analytic approach underlying
the system.
The accounting rules of the matrix, their
consequences for analysis, and the relation of
the matrix to the tables are spelled out in Sec­
tion II. Very briefly, Table 1 is a statement of
capital account for the economy as a whole,
showing investment in assets in the uses columns
and means of financing that investment in the
sources columns. The table divides the economy

into several sector groups, each of which has a
column in the matrix, and all transactions of
each group are recorded on one or another of
the matrix rows. The top row - saving - is
for each sector the net sum of current receipts
from income less current outlays for consump­
tion, operating expenses, and so forth. Saving
appears as a net amount available from current
operations for investment purposes. Other
amounts are borrowed in financial markets by
each sector, and borrowings and saving to­
gether are the sources of funds used to acquire
physical and financial assets.
A distinction is drawn between nonfinancial

TABLE 1 MODEL FLOW OF FUNDS MATRIX
(Hypothetical data; billions of dollars)
Private
domestic
nonfinancial
sector

Government
sector

Financial
intermediaries
sector

Rest of
world
sector

Totals

Memo:
domestic
totals

Transaction
Use Source Use Source Use Source Use Source Use Source Use Source
category
Nonfinancial:
179
1. Saving
5
-10
-4
170
174
2. Capital outlays
170
170
170
Financial:
3. Net financial
investment
-10
9
5
-4
4
0
4. Total financial uses
69
and sources (5+6)
140
144
60
5
15
147
65
70
3 -----7 147
5. Deposits at financial
50
intermediaries
53
55
3
55
2
55
55
85
6. Loans and securities
19
92
91
60
2
92
15
10
7
70
NoTE. - This table compresses about 20 sectors in the full system into four columns for sector types that are to be
distinguished in the present discussion, and the rows are a similar grouping of transaction categories. In addition, the matrix
is simplified by omitting the row and the column for discrepancies and a number of items peripheral to the main stream of
financial transactions. These omitted items are treated in the model as nonexistent in the simple economy shown. Specifically,
the relation of transactions in this table to the full matrix on page 1 of the tables is conceptually as foJlows:
Fu]] matrix
Model
Gross saving
Saving
Gross investment
Omitted
Private capital expenditures, net
Capital outlays
Net financial investment
Net financial investment
Total fi'lancial uses and sources
Financial uses, net and financial sources
Omitted
Gold, foreign exchange, Treasury currency
Deposits at financial intermediaries
Demand deposits, currency, and time and savings accounts
Omitted
Insurance and pension reserves, and interbank items
Loans and securities
Credit market instruments
Security credit, trade credit, taxes payable, noncorporate
Omitted
equities, miscellaneous, and sector discrepancies
The Government sector should be interpreted as central Government only, with State and local governments omitted as
another simplification. Of the omissions, the most important for the discussion that follows is insurance and pension reserves,
which are a major form of intermediation. This item is left out because part of such reserves are liabilities of governments
and complicate the relation between intermediation on the one hand and financial institutions on the other. The present
section is focused only on the broad outlines of structural relationships, and a more detailed description requires many
qualifications and additions to the broad form in order to incorporate these governmental reserves and the other omitted items.


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1.9

transactions reflected in the first two rows of
Table 1 - purchases and sales of goods and
services, transfer payments and receipts, and
taxes - and financial transactions in the fol­
lowing rows - net changes in the capital
amounts of claims owed as liabilities or held as
assets by each sector. All of the financial trans­
actions of a sector are combined into a net
financial investment that is the excess of the
sector's lending (financial uses) over its borrow­
ing (financial sources) .
The two most basic constraints in the matrix
are ( 1) that for each sector total investment,
which is the sum of capital outlays plus net
financial investment, is by _definition equal to
the saving shown in row 1 for the sector, and
( 2) that on any one row of the matrix the sum
of all uses of funds shown across the columns
is equal to the sum of all sources of funds in
that row. (Rows 1 and 2 of Table 1 are the
source and use sides respectively for a single
row covering all nonfinancial transactions to­
gether.) With balance vertically between saving
and investment and horizontally between pay­
ments and receipts, each column and each row
constitutes one full account of the structure,
and the relationships among columns, among
rows, and between columns and rows express
the interlocking nature of the accounting system
as a whole.
As one illustration of the structure, the gov­
ernment column in Table 1 can be seen to be
a particular form of budget statement, with
a nonfinancial deficit in the first row offset by
a net sum of changes in cash balances, loan�,
and debt outstanding in the rows below. This
column is a balanced account that differs from
other budget statements for governments mainly
in that it distinguishes sharply between non­
financial and financial transactions and arranges
transactions so that they can be identified across
the rows in the accounts of other parties to the
transactions. The rest of the world column is

similarly a particular form of balance of pay­
ments statement, arranged so as to connect it
with other sector columns along specific rows.
A loan from the government to abroad, for
example, appears on row ·6 as a government use
of funds and a foreign source of funds, regard­
less of how it may be treated in other budget
statements or balance of payments statements.
Each of the two loan entries - the use and the
source - is then playing a double role in the
matrix, vertically as a component of its sector's
column balance, and horizontally as part of the
row balance. In the row they of course balance
each other, but vertically they integrate in more
complex ways with the other transactions of
the two sectors separately. The interlock of the
system consists of establishing such double
roles, horizontally and vertically, for all trans­
actions of all sectors in the system simultane­
ously. The result is an integrated structure that
can be used to measure linkages either vertically
or horizontally or, in the most complete forms
of analysis, in both directions simultaneously.
The condition that saving equals investment
for each sector is identical in form with the
well-known equality of saving and investment
for the over-all economy in income-and-product
accounting. For the total economy, investment
on a consolidated basis consists of outlays for
capital goods plus net foreign investment, the
excess of lending abroad over borrowing from
abroad. In the flow of funds accounts, similarly,
each sector's investment consists of its pur­
chases of capital goods plus a net financial
investment that includes net lending to the
rest of the domestic economy as well as to
abroad. In the model matrix (Table 1), the
first three rows state the equality of saving
and investment for each sector, and at the
right of the model matrix is a separate column
of totals for the three domestic sector columns
of the table. This memo column is one form
of the capital account in the Commerce De-

1.10


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partment income and product system. It can be
seen that the matrix, in its domestic sector
columns, constitutes a deconsolidation of that
capital account, with capital outlays distributed
among the domestic sectors and for each a net
financial investment that is a more general form
of the net foreign investment in the consolidated
total.
This relation to the Commerce domestic
capital account is in the first three rows of the
matrix. In the lower rows, the matrix goes into
detail on the forms of lending and borrowing
by each sector that underlie the sector's net
financial investment. Only two types are shown
on the model - deposits at intermediaries and
loans and securities - but the full matrix has
many more than this, as indicated by Table 7
on page 1.38. For each of these financial rows
a full accounting of purchases and sales of the
particular type of instrument is required in the
system. It is this detailing of credit transactions
in the capital account that brings the financial
statistics of the economy into coherent relation
to one another and into direct relation to the
nonfinancial statistics in income and product
accounts. The accounting link to nonfinancial
transactions is net financial investment (row 3
of Table 1), but the economic substance of
the informatio� is in the interactions among
specific types of credit flows - deposits and
loans - and between such flows and specific
forms of capital outlay, income generation, and
saving, all within the accounting constraints of
the system.
The matrix goes beyond the Commerce capi­
tal account in that it incorporates the foreign
sector (rest of the world) as an explicit column.
This form requires that the consolidated do­
mestic capital account be shown as a memo
column, but it has the advantage that for each
financial transaction row the matrix states di­
rectly all of the transactions in the market,
whether domestic or foreign. Alternative forms


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tend to complicate or obscure the matrix with­
out adding information.

ANALYTIC ROLE OF MATRIX
The matrix is an essential framework for both
calculating and using financial market statistics
on an economy-wide basis. It is general enough
in form to assimilate the creation of new types
of financial instruments, new forms of relation­
ship, and changes in emphasis or practice that
are continually occurring in individual financial
markets. The explicit constraints of the system
enforce a consistency of analysis not easily
reached without the framework, particularly in
questions at a macroeconomic level, where all
market forces interacting with one another are
to be accounted for. Such questions become
operable only when the transactions involved
have been stated within the matrix context on
a complete basis but without double-counting.
The role of the matrix for such purposes can
be seen by the simple exercise of assuming
some major financial d6velopment - such as a
sharp rise in government borrowing or in de­
posit flows to banks - placing that flow in its
appropriate cell of the matrix, and working out
even a minimum possible conjunct set of en­
tries that must exist to keep the matrix in
balance. If the example is in government bor­
rowing, that source of funds to the government
must be mirrored in the government column in
some combination of a nonfinancial deficit
(negative saving) and government lending as
an offsetting use of funds, since the money
raised is obviously being absorbed in one way
or another. At the same time, the borrowing
itself must be matched by an equal amount of
lending somewhere along the row that carries
government securities. And in whatever column
that lending appears, there must be a source of
funds available for this use. In the simplest
situation that source can b'e the positive private

1.11

saving and borrowing from the government that
are already implied in the government account.
For example, a minimum complete accounting
for the government borrowing might be:
Saving
Government loans
Government securities

Government
Private
Use Source Use Source
7
-7

10

3

3

10

When this form of speculation is extended
from the merely possible into the realm of the
likely, economic analysis enters the exercise. In
the example above there are questions of the
probable demand by private sectors for other
types of financial assets, such as cash and other
deposit claims, that are competitive with gov­
ernments as investment forms and that affect
the volume of flow into financial intermediaries
and the volume of credit supplied by inter­
mediaries. More broadly, analysis raises ques­
tions as to the circumstances that generated the
government deficit, including income distribu­
tion and private demand for capital goods, and
the resulting influences on credit market flows.
Each aspect of the picture interacts with the
others, and as the various tendencies are
itemized they are to be fitted into the frame
of the whole in mutually consistent forms.
The operation of the matrix is also illustrated
by considering the question of what happens
when the money supply increases. Money is a
liability of the banking system and an asset of
the public; if it increases, the increase must be
accompanied by some combination of a de­
crease in other bank liabilities, an increase in
bank assets, and offsets in the accounts for other
sectors. The organization of the accounts forces
these contra-entry questions to the surface and
in the process spells out the initial question in a
complete form.
Analysis of this kind can be applied to an
actually expected set of developments by using
the matrix structure as a device in forecasting
or projecting the future, with the· specific func­
tion of keeping individual parts of the forecast


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in touch with one another. The merit of such
constrained systemwide forecasts is that each
element can be tested by the plausibility of its
counterparts in other areas of the matrix. The
structure as a whole is reasonable only when
all of its parts are reasonable. Whether the
elements are derived econometrically from
empirical models or p ut together judgmentally
by hand, there is room in the procedure for
successive approximations that approach the
final result by working out the effects of each
change on the rest of the structure and by then
working back from the effects to revised ver­
sions of the initiating change.
Developing a complete forecast on this· basis
illustrates the integral role of financial market
behavior in capital theory and in general
theories of income, production, and economic
growth. For each individual in the economy,
the choices he makes as to consumption, physi­
cal investment, financial investment, and bor­
rowing are related to one another and are con­
fined only as a group within the limits of his
income and net worth. The option of borrow­
ing lets a person shift his consumption and
investment patterns over time, and higher levels
of debt allow him to carry higher levels of
either physical or financial assets at any time.
He may in his mind attach priorities to one or
another use of his income, but in practice all
of his demands work against one another to
some extent and indeed are also influencing
the amount of income he tries to earn.
The columns of the matrix recognize these
relations among the activities of an individual
transactor by putting all of his transactions
together in the general form of a statement of
sources and uses of funds.4 The system be­
comes macroeconomic when the columns for
all sectors are put against one another to gen­
erate the market summary rows where the
demands of different transactors impinge on
t�ey are combined, by statistical necessity, with
. • _Although
similar
transactions of many other individuals.

1.12

one another. The effect is a joining of financial
investment analysis directly to theories of
production, income, saving, and physical in­
vestment in a manner that adds generality to
the model as a whole.

STOCKS AND FLOWS
The immediate connection between financial
markets and nonfinancial activity is in terms of
net flows of claims, since it _is as flows that
financial markets absorb funds from income
and supply funds to spending. These financial
flows are always increments in amounts of
assets and liabilities outstanding, however, and
the levels of these claims in existence are as
much a part of the picture as the flows them­
selves. Economic equilibrium (in any sense of
that term) must be a balance simultaneously
among stocks, among flows, and between the
stocks and flows, a consideration that is re­
flected not only in advanced models but also
in such rule-of-thumb indexes as liquidity ratios,
turnover rates, and debt-service coverage by
income.
Over the period covered by the flow of
funds accounts, several types of credit have
shown fairly stable relations to expenditures or
receipts in terms of flows, but the flows have
been at such rates as to generate strong secular
drifts, relative to activity, in levels of debts and
assets, either upward or downward. The mean­
ing of these drifts in stock relationships, or even
whether they have meaning, is an important
aspect for financial analysis for the near and
intermediate future, and for such questions data
on stocks of financial claims outstanding are
included in this publication on a basis parallel to
the tables on flows, including both a matrix of
claims as assets and as liabilities, on pages 48
and 49, and time series compilations for indi­
vidual rows and columns. 5
IS As of this publication, the accounts on outstandings are
incomplete as balance sheets in that they exclude physical
assets and therefore exclude any measure of net worth; as the
problems of valuation and data are worked out in this area,
it will be possible to complete the balance sheets at some time in
the intermediate future.


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INTERMEDIATION AND PRIMARY
CREDIT FLOWS
The generality of the matrix tends to obscure
certain structural aspects of the financial sys­
tem that are of continuing interest in analysis.
These structural aspects have to do with con­
cepts such as intermediation, "primary" de­
mands for credit, and "ultimate" sources of
credit - or more broadly with "double-count­
ing" of credit flows and the position of financial
institutions in the system. In a general sense,
intermediation consists of borrowing for the
purpose of lending rather than for nonfinancial
outlays. The term is usually associated with
financial business, such as banks, savings in­
stitutions, insurance companies, and investment
companies that concentrate on such activities.
The distinction between intermediaries and non­
intermediary sectors must be recognized as
institutional and a question of degree rather
than a concept definable in theory; on the one
hand households, nonfinancial business, and
governments also engage in intermediation to
some extent, whereas on the other hand inter­
mediaries are subject to the same general in­
vestment principles as nonfinancial sectors.
Nevertheless, the difference in degree is extreme
and the distinction justified in practical analysis.
Intermediaries tend to specialize in the forms
of debt they offer, or the forms of credit they
extend, or both. Insurance companies, for
example, raise funds primarily through policy
premiums but invest broadly in credit markets,
while finance companies specialize in their lend­
ing but not their borrowing forms. Savings and
loan associations are specialists both in borrow­
ing - through savings accounts - and in lend­
ing - mortgages. In whatever way they special­
ize, however, these institutions are filling a gap
between the types of claims the nonfinancial
public wants to hold as assets, such as liquid de­
posits and insurance reserves, and the very

1.13

different types of claim the public wants to ( or
is able to) owe as debts, such as bank loans,
consumer credit, and mortgages. With or with­
out intermediaries, the total of claims held as
assets by nonfinancial transactors is nearly equal
to the total of their debts, because directly or
indirectly they owe the debt to one another. But
with intermediation the composition of their
assets becomes very different from the composi­
tion of their debts. The intermediaries are thus
performing a transformation process within the
financial markets between the asset and the
liability sides of the public's balance sheet.
Intermediaries are important to analysis in a
number of ways. Their presence in the market
broadens enormously the forms of both finan­
cial investment and borrowing available to the
public - there is no question that capital for­
mation, saving, income, and consumption are
all higher than they would be without the ca­
talytic influence of intermediaries in raising
financial flows. In the U.S. economy a large part
of all credit goes through intermediaries. In the
short run much of financial analysis is con­
cerned with how well intermediaries are meet­
ing demands for the specialized forms of credit
they offer with the funds they are able to attract
from savers. Legal constraints on their rate
structures, lending practices, and forms of bor­
rowing often prevent intermediaries from ad­
justing fully to current conditions and decision
patterns, causing sizable shifts of .funds into _and
out of them. On the other hand intermediaries
frequently introduce new practices or new credit
instruments that also have major effects on the
structure of flows. Both the constraints and the
innovations of intermediaries have to be taken
into account in even. simple and . summary
analysis of economic development.�
6 A review of depositary intermediation in recent years
appears in "Time Deposits . and Financial Flows," Federal
Reserve Bull�tin, December 1966, pp, 1739-52.


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FLOW OF FUNDS SUMMARY
TABLES
The process of intermediation immediately im­
plies some basic or primary flow of credit in the
economy that in part passes through these insti­
tutions and raises the question as to what that
basic flow might be or, more specifically, how
it might be defined in an analytically useful
form. The matrix itself is too general in form
to show such a concept, since it puts financial
intermediaries parallel to other sectors and adds
up totals along the rows that include all sectors
indiscriminately. This matrix form accommo­
dates both the intermediary-type debt owed by
nonfinancial sectors, particularly governments,
and the marketable debt of intermediaries, such
as bonds and open market paper, that are not
distinguishable as debt instruments from the
same types of claim owed by nonfinancial
sectors.
Nevertheless, the elements needed to approxi­
mate a concept of a basic flow of credit that may
or may not be intermediated can be abstracted
from the matrix, and one such approximation
is put together in the credit market summary
financial table that appears at the beginning of
most flow of funds presentations. It appears in
this publication on pages 4 and 50. The sum­
mary table is not directly part of the flow of
funds structure, but it is useful in outlining rela­
tionships between forms of borrowing and forms
of lending and in sketching the extent and form
of intermediation taking place over time.
Using the figures from the model matrix
(Table· 1), the summary table takes the form
shown in Table 2. Table 2 identifies intermedia­
tion on an institutional basis by isolating finan­
cial institutions as a sector group that is the
channel for the process. The basic. credit flow
is correspondingly, on a sector basis, borrowing
by nonfinancial sectors. The total is further

1.14

limited in the summary tables to borrowing by
these sectors in credit market instruments only
and omits security credit, trade debt, and other
forms outside the organized credit markets. 7
TABLE 2 MODEL CREDIT MARKET SUMMARY
(Billions of dollars; figures from Table 1)
I. Funds raised by nonfinancial sectors
Government
Foreign
Private domestic
II. Funds advanced directly in credit markets
Government
Financial intermediaries
Total advanced in Joans and securities
Less: funds raised in loans and securities
Foreign
Private domestic nonfinancial sectors

82
15
7
60

70
10

III. Sources of funds supplied to credit markets
Private domestic nonfinancial sectors
Deposits
50
Loans and securities
19
Other sources
Foreign funds: deposits, loans, and securities
Government cash balances
Government Joans
Sources not elsewhere classified

82
2
60

19
82
69
13
3
3
2
5

Part I of Table 2 is a simple summary of the
basic total of borrowing, detailed by type of
borrower and, in the full form on page 4 of the
tables, by type of credit. Part II of Table 2 lists
in a special form the net amounts of the credit
total in Part I that were supplied by the sectors
of the economy as lenders. For financial sec­
tors, total lending from Table 1, row 6, is sho\Y,n
net of their credit market borrowing on row 6,
such as in finance company commercial paper
sales and FNMA bond issues. Such security
issues are bought partly by nonfinancial sectors
and partly by other financial firms at a second
level of intermediation, and both kinds of pur­
chases are included positively in Part II of
7 In the model matrix (Table 1) credit market borrowing
is identical with the bottom row of the matrix, as mentioned
in the note to the table, and the other forms of claim men­
tioned above are omitted from the model altoge_ther. The text
statement limiting the total to credit market instruments
refers to the actual accounts where such claims are part of
the total structure.

Table 2 as funds advanced. The distribution of
supply as shown is thus not limited to amounts
actually lent by each sector to nonfinancial bor­
rowers. It goes back to the sector that, in a
sense, originally put funds into credit markets
and makes a subtraction for financial business
intermediation within the credit markets. Such
intermediation, like other forms such as de­
posits, can raise the basic total credit flow ( 82
in Table 2) by transforming specialized credit
demands into more broadly acceptable forms
such as securities. It is, however, not itself a part
of that basic flow associated with saving and
physical investment.8
Part III of Table 2 presents a final picture of
credit supply from nonfinancial sectors, com­
bining their deposit flows and security purchases
in a form that adds up to the same basic total
used in the upper parts of the table. Borrowing
by nonfinancial sectors is almost completely
matched by financial investments in one form
or another by the same nonfinancial sectors,
whether directly or through intermediaries. Only
the net saving by intermediaries from their
own income-and-product transactions ( "sources
n.e.c." in the table) is additional to the financial
investments by nonfinancial sectors. In Part III
the emphasis is on forms of investment by pri­
vate investors - deposits, Government securi­
ties, and private securities - with their implica­
tions both for the amounts and types of private
liquidity holdings and for the effects on special­
ized credit markets, such as mortgages, that are
dependent on deposit intermediaries.
8 The complete form of this table (page 4) includes security
credit on the supply side, shifting further back the allocation
of supply among sectors. Security credit is loans for the pur­
pose of carrying securities, and it is omitted from the model
data in Table 1 for simplicity. It enters the table positively for
security credit lenders and negatively for borrowers, adding to
a net zero sum in total funds advanced. Thus, supply to the
basic total credit flow is indicated to come from security
credit lenders rather than from those who buy securities on
credit. When such credit is rising, this treatment typically in­
creases the supply shown for banks and decreases the amounts
for nonbank finance (security dealers) and households.

1.15


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DIAGRAM OF FINANCIAL
STRUCTURE
The view of the economy that is reflected in
Table 2 is indicated in the diagram on page
1.17, which is a picture of the Nation's capital
account that, again, uses the model matrix
(Table 1) and that abstracts in the same way
from the full complexity of the system. The
diagram is specific to the data in the model in
that it shows current-account deficits for the
government and foreign sectors on the right, in
parallel with physical investment, as "uses" of
private saving entering the capital account on
the left; if either of these sectors had a posi­
tive current balance, it would have appeared at
the left side of the diagram. In a fully detailed
picture, the dissaving of any individual trans­
actor with a negative current-account balance
would also appear on the right, with treatment
of financial flows parallel to a deficit govern­
ment. To simplify the diagram, all of the pri­
vate domestic sectors' saving is on the left, even
though the total for the sector is a net sum of
savers and dissavers together. 9 The diagram
takes on precision if each sector is viewed as a
single person in an economy made up of only
four persons, each different from the others.
This primitive view can be extended easily to a
more general picture with many separate units
in each sector.
The diagram pictures saving entering the capi­
tal account as a diversion from the current pay­
ments stream and passing through a number of
channels to finance physical investment outlays
and government and foreign deficits that inject
spending back into the current stream. Part of
the saving goes directly into physical assets, to
the extent that people buying capital goods pay
for them without recourse to borrowing, and
this appears as "internal finance," the excess of
o Saving in the diagram is the total for private sectors,
including intermediaries. Intermediary saving is an internal
source of funds for lending in the diagram.

capital outlays ( 170) over private borrowing
(60). Another part of saving goes into financial
assets, however, such as cash and deposits for
liquidity and marketable securities for capital
gains. Part of this financial investment goes di­
rectly to nonfinancial borrowers (12), but most
of it is put into deposit ( 55) and security claims
on intermediaries ( 10), who turn around and
relend the funds to nonfinancial sectors through
quite different forms of credit instruments, such
as mortgages and bank loans (70). 10 These
credit flows from intermediaries combine with
the lending directly from savers to make up the
total volume of borrowing ( 82) by nonfinancial
sectors that is used mainly to cover the deficits
of dissavers and to pay for investment outlays
not covered by internal finance.
The bottom of the diagram sho� a reverse
flow of funds from the borrowing to the lending
side of the structure that is equal to the invest­
ments in financial assets made by the two deficit
sectors. In the model matrix (Table 1), these
two sectors have not limited their borrowing to
the minimum amounts needed to cover their
deficits but rather have found it worthwhile to
borrow extra amounts that allow them to add
some to their asset positions ( 8), in part per­
haps for liquidity and in the government's case
to help carry out lending programs for public
policy purposes. These extra credits are borrow­
ing for the purpose of relending and as such
constitute a form of intermediation by nonfinan­
cial sectors. The U.S. Government does in fact
act as an intermediary to financial markets,
floating its own securities to assist agriculture,
small business, the home mortgage market, and
other private markets, and a more complex dia­
gram could show that activity explicitly. The
more general point, however, is that quasi­
intermediation occurs in many forms in non­
financial sectors, that all forms of it create re­
verse flows in the diagram, and that they add
10 Intermediaries use their own retained incomes (5) to
lend somewhat more than they borrow.

1.16


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CURRENT PAYMENTS►

financial
investment
by nonfinan.
sectors

sectors
[82)

1771

an extra element to the relation between the
total flow of credit as defined in the diagram and
the associated totals of saving and investment.
Typically, this kind of intermediation is diffi­
cult to identify, as illustrated by taking the pri­
vate domestic nonfinancial sector in the diagram
to be a single individual. Even though this per­
son's saving ( 179) was greater than his capital
outlays ( 170), he chose to put a substantial
amount into financial investments ( 69) and
then to borrow some of these funds again on the
other side of the market in different forms ( 60).
This is normal and reasonable behavior, since
the combination of assets and liabilities he now
has suits his short-term and long-term needs
better than lower totals of both assets and lia­
bilities. However, it raises the question as to
whether he borrowed to invest in physical or in
financial assets, and the answer is that he bor­
rowed for the two purposes jointly in unidentifi­
able and even undefinable proportions. Only in
special cases, such as the two deficit sectors in


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this model or a borrowing total that is larger
than total investment outlays, can such inter­
mediation be even partially measured.
This discussion illustrates the ambiguities in
the concept of intermediation and thus in the
concept of a basic or primary flow of credit that
is to some extent intermediated. Intermediation
can nevertheless still be a useful construct for
analysis when it is given an institutional sense
that is based on the characteristics of a set of
financial businesses, including the legal con­
straints on their operations, their typical prac­
tices as borrowers and lenders, and their flexi­
bility in changing economic conditions. Isolating
financial institutions as an intermediary group
brings out on a broad basis the division of finan­
cial flows between those that enter this area of
specialized and constrained lending operations
and those that are available only in more broadly
marketable instruments. It is this institutional
foundation for analysis that underlies Table 2.
As applied to nonfinancial sectors, the concept

1.17

of intermediation is too ambiguous to be useful,
and it is well replaced by the integrated balance
sheet view of physical investment, financial in­
vestment, and borrowing that is implicit in this
discussion.
In comparison with the actual accounts as
published, the diagram is primitive although ac­
curate as far as it goes. In both the model ma­
trix and the diagram, credit flows are limited to
the main-stem group of financial claims that are
handled in organized credit markets, such as se­
curities, mortgages, consumer credit, and bank
loans, and that in flow of funds publications are
labeled credit market instruments. It is this cen­
tral group of claims that is the focus of the
summary tables in publications as well as in the
model used for this discussion. A glance at the
full matrix on page 1 shows that the financial
structure as a whole includes a variety of other
claims, such as gold, foreign exchange, trade
credit, and equities ,in noncorporate business.
These are more specialized instruments that are
also part of the financing of the economy and
that appear in the accounts where appropriate,
but for summary purposes they are treated as
outside the credit markets proper. The diagram
is also primitive in that it cannot easily show
negative financial flows, such as debt repayment
or reductions in asset holdings, and because it
ignores the layers of intermediation that exist
among financial firms, such as bank loans to
security dealers and insurance company pur­
chases of finance company bonds.
The purpose of the diagram is only to illus­
trate in broad outline the relation between sav­
ing and investment on the one hand and the
aggregates of borrowing and intermediation
shown in Table 2 on the other. The 'financial
markets absorb part of saving and supply part
of the funds for spending, but the total volume
of credit flows as defined here has no necessary
relation, dollar for dollar, either with saving or
with investment because of the opportunities
for internal finance and for borrowing to carry


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financial assets that are suggested by the dia­
gram. The effects of restricting or expanding
credit flows are thus not necessarily or immedi­
ately on saving and investment but rather tend
to be diffused throughout the system inside and
outside financial markets. Such relations as exist
between credit flows _and nonfinancial activity
must be found analytically and empirically, with
credit seen both as borrowing by nonfinancial
sectors and as lending by those same sectors.
Examples of the empirical relationships that
exist in the data at the broadest level are illus­
trated in the charts on the following pages.
Some of these relations are close, but the con­
clusions to be drawn from them must be based
on analysis of the economic system as a whole.
With credit flows dependent on borrowers' de­
mands for financial assets as well as their non­
financial outlays, the problem of identifying
supply and demand separately is more complex
for financial markets than for many other areas
of analysis, and useful solutions to the problem
are still to be worked out.

HISTORICAL RELATIONSHIPS
Charts 1 through 8 pull together in summary
form statistical evidence from the flow of funds
accounts on the connections that have actually
existed since 1952 among investment, credit
flows, private financial assets, and debts out­
standing. The charts start, somewhat arbitrar­
ily, at the point of household and business
borrowing, proceed to the total borrowing by
nonfinancial sectors that is pictured in the dia­
gram, connect that total to private financial in­
vestment, and summarize the results of these
flows in terms of amounts of debts and assets
outstanding.
The data underlying the charts are from
tables in this publication, as explained in Notes
to charts ( page I. 21 ) . In the charts, how­
ever, the data have all been deflated by a com­
pound index of prices and the 1952-68 trend

1.18

of gross national product in order to highlight
cyclical relationships apart from the strong
growth trends over the period in most of the
data. A single deflator was used for all of the
time series, and a rising trend in any of the
plotted series indicates a rate of growth faster
than the trend of GNP, although not necessar­
ily faster than GNP growth in any short period.
A series with a falling trend is not necessarily
decreasing in actual dollar amounts; it may be
only increasing at a slower rate than the GNP
trend. The deflator itself is presented and de­
scribed in the Notes to the charts; it is not di­
rectly part of the accounts, which show only
current-dollar quantities.
Charts 1 and 2 illustrate the association that
has existed between net borrowing in credit
markets by households and nonfinancial busi­
nesses and their spending for capital goods since
1952. Within these two aggregates, inventory
investment and business bank loans have been
close to each other in dollar amounts through­
out the period. Other investment and other
borrowing by these sectors have also been close
in cyclical movement, where the investment
total includes consumer durables as well as resi­
dential construction and plant and equipment
and is net of capital consumption allowances.
The high level of net investment in the early
years shown on Chart 2 must be attributed
CHART 1

partly to an understatement of capital con­
sumption, since depreciation allowances at the
time still reflected prewar prices and write-offs
to some extent. While investment has probably
dropped somewhat relative to GNP since the
mid-1950's, the decline was less than Chart 2
suggests.
The relationships in Charts 1 and 2 do not
explain either physical investment or private
borrowing in terms of the other and give no in­
dication as to why they fluctuate. There are
many reasons for borrowing other than capital
outlays, and much of the physical investment
total is paid for without borrowing. The asso­
ciation has nevertheless been close over a vari­
ety of economic periods covered by Charts 1
and 2 and is one of the important empirical evi­
dences to be reflected in aggregative financial
analysis.
Charts 3 to 8 put this· investment-connected
credit flow into the framework of total economic
activity and the rest of the financial structure.
Several relationships and trends are apparent,
but these relations, like those in Charts 1 and
2, are to be seen as no more than an empirical
base for analysis. While causal connections may
be illustrated in Charts 3 to 8, they can be found
only by study of the economy as a system and
not.in parallel movements alone.
Chart 3, for example, combines the data
Billions of 1965 dollars, SAAR

CHART 2

Net chanres, billions of 1965 dollars, SAAR
16

72

12

64

8

56

4

48
40

'53

'57


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'61

'65

4

32

8

24

'69

'53

1.19

'57

CHART 3
128

CHART 4

BIiiions of 1965 dollars, seasonally adjusted annual rates

112

704

96

688

- PRIVATE NET
CAPITAL OUTLAYS

80

�

64

�

32

624
'61

80
64

656
640

'57

96

672

48

16

Billions of 1965 dollars, SAAR

720

'65

'69

48
32

608

'53

'57

Net flows, in billions of 1965 dollars, SAAR

16

Billions of 1965 dollars

96

'57

CHART 7

460

'61

'65

'69

80

600

800

64

500

700

48

400

600

32

300

500

16

200

400

0

'53

'61

Billions of 1965 dollars

300
280

420

260

400

240

380

220

PRIVATE LOAN AND
SECURITY HOLDINGS -

'65

'69

Billions of 1965 dollars, SAAR

740

720

720

700

700

680

680

660

660

640

640

, -,-' 200
- '---'---'---'--, - -'---'---'---'-,- ......--------'--------'--------'�, _ .____...._...._......
53
61
57
69
65

'53

1.20

620

- PRIVATE
FINANCIAL ASSET
HOLDINGS

620

L.-'-,


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'57

CHART 8
Billions of 1965 dollars

- PRIVATE
HOLDINGS OF
DEPOSITS

440

360

'69

CHART 6

CHART 5

'53

'65

'61

'57

'61

'65

600
'69

NOTES TO CHARTS

All data in Charts 1 through 8 have been deflated by a single compound index (1965 = 100) that is the product of (1) the
U.S. noninstitutional population 16 years of age and over, (2) the GNP price deflator, and (3) an exponential growth trend in
deflated GNP per capita found by ]east-squares regression to be 2.3 per cent per year for the period 1952-69. After deflation,
all flow data are plotted as centered two-quarter moving averages (three quarters weighted 1-2-1), with 1/52 and IV/69 omitted
from the charts. Assets and liabilities outstanding are deflated by the same index, but before deflation the data on levels
outstanding were processed to eliminate the many discontinuities that occur in time series on levels outstanding because of
changes in coverage in basic statistical sources. To make the levels continuous, the 1968 year-end levels were taken as a base
and incremented back to 1/52 by the seasonally adjusted quarterly flows. Corporate stocks are omitted from all data in the
charts both as assets and as liabilities.
Data for the charts are derived from tables in the body of this publication and are identified in the following list:
Chart

Beginning
page

Item

10
10

Business inventory investment
Business bank loans n.e.c.
2

Other net private investment
Other private borrowing

3

GNP
Private net investment

3,4
4, 5

Private borrowing
Total borrowing

5

Private financial investment
Private liquid assets

6

U.S. Government debt
Other debt

7

Private deposits
Private loans and securities

8

Private financial assets

Line

{

9, top section
17

6
6

3, less inventories
4, less business bank loans n.e.c.

2
6

3

6
4

4
1

4
4
30

2, bottom section
3, bottom section
23 + 25

50
50
50
50
50

2, Part I
5, Part I
3, Part III
8, Part III
2, Part III

In reciprocal form as a multiplier against actual data, the deflator is as follows:
Year

QI

QII

QIII

QIV

Year

QI

Qll

QIII

Ql V

1952
1953
1954
1955
1956
1957
1958
1959
1960

2.06
1.96
1.87

2.03
1.94
1.85
1.77
1.67
1.55
1.46
1.38
1.31

2.00
1.92
1.84
1.75
1.63
1.52
1.44
1.36
1.29

1.97
1.91
1.82
1.73
1.60

1961
1962
1963
1964
1965
1966
1967
1968
1969

1.20
1.14
1.08
1.02
.96
.90
.83
.77

1.26

1.24
1.19
1.22
1.07
1.01
.94
.88
.81
.75

1.23
1.17
1.11
1.05
.99
.93
.86
.80
.73

1.22

1.80

1.69
1.57
1.48
1.40
1.33

1.50

1.42
1.35
1.27

from Charts 1 and 2 and illustrates the extent
to which fluctuations in private capital outlays
have been the dominant component of fluctua­
tions in total GNP. During 1961-66 both GNP
and investment capital outlays increased fairly
steadily (relative to the 1952-69 GNP trend),
and for that period only about half of the dollar
rate of growth reflected net investment, but this
was still well above the proportional share of
investment in the total.11 Because private bor11 The two vertical scales in Chart 3 have the same dollar
gradient even though their absolute values are very different.
From 1/61 to 1/66, net investment spending expanded 124 per
cent in deflated terms as against 10 per cent for deflated GNP,
raising investment as a share of GNP from 4.8 per cent in
1/61 to 9.8 per cent in 1/66. On a gross basis, before capital
consumption allowances, investment outlays rose $43 billion
( deflated) during the period, as against $64 billion for GNP.


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1.16
1.10

1.03
.98
.91
.85
.78
.72

rowing was closely associated with investment,
it was associated with total GNP as well. While
investment outlays are probably an important
link between GNP and borrowing, more direct
connections probably also exist - for example,
a short-run relation between income changes
and changes in demand for financial assets that cannot be seen directly in Chart 3.
Chart 4 compares household and business
borrowing with total borrowing by nonfinancial
sectors in credit markets, including funds ad­
vanced to foreign borrowers, to the U.S. Gov­
ernment, and to State and local governments.
U.S. Government borrowing is the most volatile

1.21

difference between the two. In general its effect
is to shift peaks and troughs into an earlier
quarter and make the total a slightly leading in­
dicator of GNP turning points.12 State and local
government borrowing has a hybrid position in
the accounts - as governments the group is at­
tributed no physical investment outlays in in­
come and product data, whereas these units
base their financial planning on much the same
market considerations as households and busi­
nesses. In Charts 1 through 4 borrowing by
State and local governments is excluded from
the private totals that are related to physical
investment, but investment in financial assets by
these governments is included with other private
financial investment in Charts 5 through 8.
Chart 5 shifts to the supply side of credit
markets and illustrates the close connection of
total credit market borrowing by nonfinancial
sectors to financial investment by private do­
mestic nonfinancial sectors. As illustrated in the
diagram, total borrowing has a near-identity
relation to financial investment by all nonfinan­
cial sectors combined, including U.S. Govern­
ment and foreign. Chart 5 demonstrates that
most of the movement in borrowing is paralleled
in the private domestic component of nonfinan­
cial sectors and particularly in their investment
in liquid assets - cash, other deposit claims,
savings bonds, and short-term Government se­
curities.13 There is thus a body of flows from
households, businesses, and State and local gov­
ernments that is easily shifted between institu­
tional deposits and direct lending but that is
generally constrained to a total that fluctuates
with the borrowing totals. Under most circum12 Turning-point relationships among series are affected by
the deflation of the data that was described earlier. With
undeflated data, the leading characteristic of total borrowing
is more pronounced, because removing growth trends shifts
peaks in GNP further into earlier quarters than peaks in
borrowing. The reason is that GNP is a proportionately more
stable quantity than net credit flows and therefore has a
relatively larger trend component to be deflated.
13 The charts, like the summary tables, set apart the in­
surance and pension reserve component of private investment
from private totals. See note 8, page 1.15.


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stances a sharp rise in borrowing is accompa­
nied by a roughly equal rise in liquid-asset
holdings of these private domestic nonfinancial
sectors, and analysis of the two movements
cannot easily be separated from one another.
The gap on Chart 5 between private financial
investment and private liquid assets consists of
net purchases of corporate and municipal se­
curities, long-term Governments, commercial
paper, and other direct claims on borrowers.
These other investments are usually small in
total amount but volatile as credit conditions
change. Most of their movement is in municipal
debt, longer-term Government bonds, and Gov­
ernment agency issues; very little is in corporate
stocks. Households have a large volume of
transactions in stocks, but sales of shares offset
virtually all of the stock purchases for the sec­
tor as a whole, and the net use of , funds for
stocks is small. 14
The difference in Chart 5 between total pri­
vate financial investment and total borrowing
consists of flows to insurance and pension re­
serves, the net nonfinancial sources of funds of
financial institutions, foreign acquisition of
claims on the United States, U.S. Government
cash balances, and U.S. Government loan pro­
grams.15 The loan programs have a special posi­
tion as an explicit form of intermediation by a
14 In contrast to their small net role in household transac­
tions, corporate stocks valued at market price are the domi­
nant financial asset of the household sector and subject to
major movements reflecting market price behavior. Corporate
equities have an ambiguous position in the financial scheme
in that they are only residual claims and, in a legal sense at
least, not a burden on the issuer. In flow of funds tables on
levels of assets and liabilities, they are shown as assets (at
market value) but not as debts. At the same tif)le, the flow
tables show transactions in stocks, both new issues and
trading in outstandings, on exactly the same basis as debt
instruments. The position of stocks in the system must often
be considered, explicitly in analytic use of the account. All
household data on stocks held include investment company
shares.
15 U.S. Government cash is a major buffer from quarter to
quarter between- the Government's financing requirement and
the actual amounts raised. Netting Government cash against
Government borrowing often tends to give a more accurate
short-run picture of the Government's effective demand for
credit to be raised from the public during a period. The net
total appears as a memo in the second part of the full credit
mar�et summary on page 4 of the statistical section, where the
cash balances are also deducted from Federal Reserve and com­
mercial-bank credit. Borrowing in Charts 4 and 5 is gross of
the cash balance movements.

1.22

nonfinancial sector, transforming certain types
of private credit demand into issues of debt by
the Treasury or by U.S. Government agencies.
Only lending by agencies included in the budget
is covered here. Credit from FNMA and other
sponsored private agencies is excluded as lend­
ing by financial institutions.
Chart 6 indicates the cumulative effect on
debt outstanding that has resulted from the
structure of borrowing since 1952. Within a
total debt owed by nonfinancial sectors that has
risen only slightly in relation to GNP, there
has been a major shift from public to private
liabilities with U.S. Government debt shrinking
from 50 per cent of the total in 1952 to 21 per
cent at the end of 1969. 16 The explanation for
the shift lies in a combination of circumstances
- the legacy still remaining from depression
and war at the beginning of the period in the
form of high public ( and low private) debt, the
strength of private investment demand stem­
ming partly from the same cause and tending to
generate private debt, and the favorable Gov­
ernment budget position that reflected strong
private demand. The resulting trends in debt
structure are strong and cannot be expected to
continue indefinitely, although they probably
will not raise serious problems in the next 15 or
20 years. If private investment and credit de­
mands continue at the rates of recent years, the
trends in Chart 6 might begin to reach extreme
levels. However, if these trends were to generate
tensions in credit markets a number of changes
in financial relationships would probably de­
velop to avoid distorted balance sheet structures.
16 Deflating flows and levels by a single index of growth
and prices for the charts creates a special relation between the
deflated figures for borrowing and changes in debt outstanding.
If the deftator increases 5 per cent over a year, borrowing
must equal 5 per cent of outstanding debt to keep deflated
debt constant. A borrowing rate above 5 per cent will raise
the debt level, but if less than 5 per cent, deflated debt goes
down even with positive borrowing. In the data used for the
charts, average growth in the deftator was 5.9 per cent per
year, 1952 to 1969, whereas average U.S. Government borrow­
ing averaged 1.5 per cent of debt outstanding. Average private
borrowing, on the other hand, was 8.6 per cent of private
debt. These figures exclude corporate stock issues from both
debt and borrowing.


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In Charts 7 and 8 appear the main elements
in assets that are counterpart to the debt levels
in Chart 6. Private financial assets, in Chart 8,
have sustained a fairly close relation to GNP
at the same time that, during the first half of
the 1960's, the composition shifted from direct
credit instruments into claims on intermediaries.
The shift in Chart 7 had a broad resemblance
to the shift in debt forms in Chart 6 and was
partly related to the change in debt structure.
With supply of Government securities diminish­
ing relatively as an instrument for liquidity and
reserve asset holdings, private investors tended
to move into institutional deposits in the 1960's
as a vehicle for expanding their total assets in
line with the expansion of GNP shown in
Chart 8. This trend was arrested during the tight
monetary conditions of 1966 and 1969, when
funds moved into a variety of money-market
instruments.
The growth in deposits was at a cost, how­
ever, because intermediaries as a group do not
have the scope of choice between deposits and
market instruments that is available to non­
firtancial sectors. The flow of credit that ap­
peared as institutional deposits from the
public's viewpoint became an accumulation of
claims on private borrowers from the inter­
mediaries' viewpoint and tilted their balance
sheets into less liquid positions. With the struc­
ture of credit demand that existed during the
early 1960's, expansion of bank credit, in par­
ticular, was accompanied by a sacrifice in
liquidity that is evident in any usual index of
bank liquidity. 17 On a broader basis, the effect
of such development$ is indicated for the
period from 1952 to 1968 in Table 3. This table
extracts from the credit structure as a whole
a set of liquid claims on the U.S. Treasury
and the monetary authorities, such as savings
17 For example, taking the sum of member bank reserves,
vault cash, and all Government securities less Federal Reserve
float as a measure of liquidity, the ratio to deposits fell from
42 per cent in 1960 to 22 per cent in 1965. If only short-term
direct Government securities are included, the drop is from
21 to 12 per cent.

1.23

TABLE 3

LIQUIDITY BASE AND PRIVATE LIQUID ASSETS

(Amounts outstanding at year-end in billions of 1965 dollars)

1. Total liquidity base
Currency in circulation
2.
Member bank reserves
3.
Foreign deposits at F.R. Banks
4.
Short-term marketable U.S. Govt. securities held
5.
outside F .R. System
Household savings bonds
6.
Less: F.R. float
7.
Holdings:
Financial business
8.
Foreign
9.
Private domestic nonfinancial
10.
Currency outside banks1
11.
12.
U.S. Govt. securities
13. Private nonfinancial sector deposits at financial institutions
14. Total private liquid assets (10+13)

1952

1960

299

212
43
22

61

40
1

*

99
99

90

102
7
190
56
134
356
546

65
10
136
38
98
360
496

2

59

2

1968
168

'41
18
*
70
41
3

55

6
106

35

71
438

545

• Less than $500 million.
1 Includes unknown small amounts held by other sectors.
NOTE. - Details may not add to totals because of rounding. Values of deftator are shown in Notes to charts (p. I. 21).

bonds and currency, that can be viewed as a
liquidity base of official liabilities to the rest of
the structure. The part of this liquidity base
that is held by nonfinancial sectors is com­
bined with deposits at private financial business
to make up a total of liquidity holdings. The
other part is held by the financial firms them­
selves, for whom as a consolidated group it is
the only form of liquidity available. 18 The de­
flated data in Table 3 indicate that the liquidity
base has not kept pace with the growth trend
of GNP and that holdings by both nonfinancial
and financial sectors have decreased over the
years in relative terms. The nonfinancial sectors
offset their drop in official claims with increases
in deposit holdings that held their total liquidity
fairly stable in relation to GNP trends, but for
institutions the rise in assets has been almost
entirely in lending to private borrowers in
forms that are not ordinarily viewed as liquidity.
111 Over the period covered in this discussion, currency was
a claim partly on the U.S. Treasury and partly on the Fed­
eral Reserve System. In the ftow of funds accounts these cur­
rency items are pulled together as liabilities of the monetary
authorities sector and are included in claims on financial
institutions, as for example in Charts 5 through 8. In Table
3, which distinguishes official and nonofficial liabilities, the
monetary authorities and their currency liabilities arc sep­
arated from the rest of the financial institutions sector.


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This erosion of liquidity has been a pressure
on financial markets over much of the period
from 1952 to 1968. Early in the period liquidity
was still high from World War II, however, and
its decline is to a large extent a return to more
normal financial structures. Whether that return
was completed by the mid-1960's cannot be
said without more useful criteria than we now
have of what constitutes the proper amount
of liquidity. The fact that much of the deposit
claims are insured by Government agencies is a
protection against liquidity erosion for deposit
holders but not for the institutions owing those
deposits. If liquidity of intermediaries is to be­
come a problem in market stability, it will
perhaps have to be met by expanding the
Government's own intermediary operations in
financial markets or by developing new forms
of credit insurance.
This review of the historical data has not
tried to explain analytically the cycles and
trends of postwar financial developments or to
point up trends with alarm. Its purpose has
. been rather to illustrate certain main connec­
tions within the flow of funds accounts among
lending, borrowing, balance sheet positions,

I.24

and nonfinancial activities - connections that
are close over the period covered and that
are basic data for analysis of the economy
as a whole. Some of the connections have
shown tendencies to shift over the 15 years.
The 1960's in particular have demonstrated the
facility and speed of financial markets in adapt­
ing to new practices and new financial instru­
ments. These changes in financial flow structure
usually appear in individual markets or sectors

and can be explained to some extent by de­
tailed analysis of those markets or sectors. They
occur within the frame of the whole, however,
and are in part reactions to changes in that
frame. Whether as a framework that constrains
particular markets or as elements of acting on
one another within a system, however, the main
members of the structure appear to have an
empirical existence that should be recognized
explicitly in the data and in analysis of the data.

II ORGANIZATION OF ACCOUNTS
Section I, on the concept of flow of funds
accounts, discussed the system only in broad
terms and does not constitute an operating
description of the system. Sections II, III, and
IV define the accounts on the basis of the rules
that organize the system, the relation of the
accounts to income and product information,
and descriptions of individual sector and trans­
action categories. Statistical derivation proce­
dures for individual items in the accounts and
procedures for processing source data are de­
scribed in a separate publication in preparation.
Section I emphasized that the matrix organi­
zation of data is fundamental to the calculation,
understanding, and analysis of flow of funds
information. The matrix is also the organizing
principle for the statistical tables in the body
of this publication, each of which is a state­
ment, in time series form, of one column or
one row of the matrix taken as a balanced
account of debits and credits. The tables for
individual columns are sector statements of
sources and uses of funds, while the tables for
rows summarize purchases and sales in markets
for individual transaction categories. The table
of contents is organized to indicate the matrix
organization of the time series tables as di-


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rectly as possible. This section describes in
more specific terms the organization of the
matrix of accounts and hence of the system
itself. References to the matrix are to the table
on page 1 of the statistical section.
As a device in social accounting, the flow of
funds matrix has the following items as char­
acteristics:
l. Sectors. The economy is divided into a
number of major groups of transactors, such as
households, businesses, and governments. These
groups are termed sectors in flow of funds discus­
sions and consist of sets of commonly identifiable
economic units. The term sector thus always has
an institutional meaning in these accounts, con­
trasted with many other bodies of data, economic
models, and analytic discussions in which it some­
times refers to types of activities, as in the invest­
ment sector or the financing sector. Investment
and financing are forms of activity that any insti­
tutional group might undertake and are referred
to here as types of transactions ( see item 3
below).1 9
2. Sector uses and sources. A pair of col­
umns, one for out-payments (U for uses of funds)
and one for receipts (S for sources of funds), is
established for each major sector, and all transac­
tions by the members of the sector are reflected
in one or the other of these two columns.
10 Noncorporate business is something of an exception to
this principle, as discussed in Section IV.

1.25

3. Financial transaction categories. All pay­
ments and receipts of each sector are classified
into standard transaction categories, which con­
stitute the rows of the matrix. Just as each family,
firm, or governmental unit is classified entirely
into one or another column, so each individual
financial claim - such as a savings account pass­
book or a single Treasury bill - is exclusively in
one or another row, and all transactions in that
claim are recorded in that row. Summation of all
uses of funds along a row and across the sectors
of the matrix gives a total of outlays made to
acquire a particular kind of asset, whereas summa­
tion of sources along a row yields a total of funds
raised in that particular manner.
4. Financial sources and uses. Financial
claims are shown in the S column of a sector only
to the extent that members of the sector issued
such claims as liabilities to raise funds. Corre­
spondingly, transactions in the U columns refer
only to dealings in the claim as an asset. Sale of
the claim as an asset is a negative offset against
acquisitions of claims in the U columns, and debt
repayment is an offset to borrowing in the S
columns.
Every transaction in financial claims appears in
the table as both a source of funds and a use of
funds, since all borrowing is someone else's lend­
ing. The money supply is one of these claims,
specifically a combination of demand deposits,
which are liabilities of and sources of funds to
banks, and currency held by the public, which is
a claim on and source of funds to the monetary
authorities.
Gold is treated as a financial asset but not a
claim. It is a metal widely used as a monetary
reserve, but it is not owed by anyone to the holder.
5. Financial market summaries. Each pur­
chase of a claim is always someone else's sale of
that same claim. Hence, taking the economy as a
whole, and including transactions with foreigners,
total funds raised by issuing a particular type of
claim are necessarily equal to total funds used to
acquire that claim as an asset.
Total borrowing then equals total lending in
any type of claim and for any set of claims taken
together. Each row or set of rows for financial
claims therefore is a summary of all funds coming
into and going out of a particular financial market
or set of markets.


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6. Floats in financial transactions. Because
in many instances a single transaction is not
entered into the books of the buyer and seller on
the same day, there are many discrepancies in the
basic accounting records of the economy between
total assets and liabilities outstanding. The result
is a certain amount of floating supply of claims as
assets or liabilities. that is an exception to item 5
above. In the flow of funds accounts, the floats
that can be estimated appear in the Discrepancy
column of the matrix (discussed under item 10
below).
7. Nonfinancial transactions. The first 9 rows
of the matrix, through "inventory change," are for
each sector a condensed summary of all non­
financial transactions - payments and receipts
for wages, goods and services, taxes, and transfers.
Current receipts and payments are netted into a
sector total of saving, while purchases of physical
capital are shown separately.
Cumulated across the columns for domestic
sectors, the row for saving adds to total saving in
the U.S. economy, which is shown in a memo
column (National saving and investment). The
physical investment rows add across in a similar
way to total capital formation in the economy.
8. Sector balances-saving and investment.
As an accounting matter, every receipt of funds
by an individual or a sector is reflected in one or
more uses of funds, if only to increase cash bal­
ances.20 For each sector, then, a balance exists
(except for statistical discrepancies) between total
sources and total uses of funds. This balance can
be shown in a variety of ways, but in the matrix
presented on page 1 sector-account balances are
shown as an equality between gross saving of each
sector and its gross investment (rows 1 and 4 of
the matrix). The concepts of saving and invest­
ment used here for sectors are the same as those
20 In the flow of funds context the terms source of funds
and use of funds mean no more than the standard terms
credit and debit in double-entry bookkeeping. The sector
statement is not a traditional sources and uses of funds
aimed at explaining movements in a single item such as
working capital, bank reserves, Treasury cash, or gold and
foreign exchange. Any such single item in the accounts is a
concept of funds special to one or another activity in the
economy. When parallel statements are set up for all sectors,
there is no one concept of funds that can be useful uniformly
across the matrix. Even cash loses its generality in this
setting, because cash of the public is different from cash of
a bank or monetary reserves of a central bank. Hence the
ftow of funds statement evolves to a generalized form in
which the funds themselves vanish, and there remains only
the ,balance between total debits and total credits.

1.26

applied to national aggregates, and for each sector
saving equals investment in the same sense as for
the total economy. For each sector saving equals
that sector's physical capital formation plus a net
financial investment that measures the sector·s
excess of lending to other sectors over its borrow­
ing from other sectors. At the national level,
similarly, total saving equals capital formation
plus net foreign investment, where the latter is the
excess of lending abroad over borrowing from
abroad.
With this accounting structure, the particular
types of financial transactions by a sector, both
borrowing and lending, are subcategories under
net financial investment. The totals shown for
financial sources and uses of funds by a sector in
general include financial flows within as well as
between sectors. It is only in the net of the two
totals, where intrasector flows are canceled out,
that the financial figures become intersector flows.
This netting is carried across to the national total
of net financial investment, where all domestic
flows are washed out and where net financial in­
vestment of the economy becomes identically equal
to net foreign investment.2 1
9. Balance of the matrix as a whole. The
effect of the preceding eight items is to produce in
the matrix a severely constrained accounting sys­
tem that undertakes to place every transaction of
the economy into direct juxtaposition to its coun­
terparts, both vertically in sector accounts and
horizontally in transaction or market-summary
accounts. Horizontally the matrix is constrained
by the equalities between saving and investment,
between total nonfinancial sources and nonfinan­
cial uses of funds, between net financial investment
and net foreign investment, and between total
borrowing and total lending in each financial
market. Vertically it is constrained by the equality
between saving and investment by each sector and
for the economy as a whole.
The upshot of these constraints is that in using
21 Net foreign investment is measured in flow of funds
accounts from the capital flows (that is, the net of financial
flows) in the balance of payments statement, whereas net
foreign investment in the income and product accounts is
measured from the current accounts - exports less imports
and net transfer payments. The difference between the two
measures is the errors and omissions item in balance of
payments, shown in the matrix as the sector discrepancy
(row 44) for the rest-of-the-world sector.


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this organization of data as a framework for
analysis - construction of models, simulation
exercises, forecasting, or estimation of the data no one cell of the matrix can be altered without
changing at least three others: one in the same
sector column, one in the same row, and at least
one other for the corresponding column and
second row.
10. Discrepancies. The matrix includes a
Discrepancy column and a Discrepancy row to
absorb unaccounted entries in transaction rows
and sector columns. The Discrepancy column
carries the net sums of sources of funds less uses
of funds across rows, and the sector discrepancy
row carries correspondingly the net sums verti­
cally. Because all elements of the matrix are
reflected in both of the two accounts, they add to
identical net totals in the corner of the matrix.
While they are net totals in the matrix, the two
discrepancy accounts can also be viewed as a
final sector and a final transaction account in a
matrix that identically . adds to zero in both
directions. With that viewpoint, the statements in
item 9 on constraints take on added generality,
since one option in changing the matrix is to alter
sector or transaction discrepancies. Indeed, if any
single cell within the matrix is altered without
explicit offsetting adjustments, the three other
changes will automatically be in a sector dis­
crepancy, a transaction discrepancy, and the joint
sum of sector-transaction discrepancies.
All discrepancy entries have the sign of net
uses of funds ( the net sum of all sources minus
allocated uses in an account). This is an arbitrary
convention; it happens to be the same as that
used in balance of payments and the opposite of
the convention in the income and product accounts,
where the statistical discrepancy is on the saving
side of the capital account as a net source.
11. Matrix as capital account. The most
general and most important characteristic of the
matrix is that it constitutes a capital account for
the economy as a whole deconsolidated among a
number of institutional sectors. It is a capital
account in the sense that it is a statement of ac­
quisition of assets - both physical and financial
- together with the sources of funds used to ac­
quire those assets. For each sector the entry for
gross saving is the net sum of internal sources of
funds - a residuum of current receipts less cur-

1.27

rent outlays - and constitutes in the matrix an
addition to sector net worth plus capital con­
sumption reserves. Investment is stated gross of
capital consumption and net of borrowing and is
thus a use of funds consistent with the "Saving
concept as a source.
The matrix deconsolidates among sectors the
capital account of the national income and prod­
uct statistics. The nature of the matrix as an
expansion of that capital account into individual
sectors and into individual financial markets is
central to the concept of flow of funds accounting
and analysis. The position of the income and
product capital account in flow of funds is dis­
cussed in Section III.

As already mentioned, each table in the
sector and transaction accounts in this publica­
tion (after the summary tables) is a statement
in time series form of one column or one row
of the matrix. The sector tables are statements

of sources and uses of funds, and the transac­
tion tables cut across sectors to summarize
flows into and out of individual markets. Any
one cell of the matrix appears in both a sector
table and a transaction table and is a link be­
tween the two.
This simple matrix organization of flow of
funds tables allows flexibility in grouping of the
data for specific purposes. Flow of funds data
lend themselves to many views of economic
activity, and each view characteristically needs
its own summary structure, with particular
items or relationships emphasized. The matrix
itself provides a map from which any con­
densed system can be designed with explicit indi­
cation of where each cell will fall and with assur­
ance that balance of the accounts as a whole
can be maintained to the degree necessary.

Ill RELATION TO INCOME AND PRODUCT ACCOUNTS
As stated earlier, a major purpose of the flow
of funds accounts is to relate financial-market
developments directly to the nonfinancial
activities of the economy. For that purpose, the
nonfinancial economy is taken to be measured
by the scope, definitions, and data of the U.S.
income and product accounts published by the
Department of Commerce. The capital ac­
counts for individual sectors of the economy
that are pictured in the matrix on page 1 are
in accounting form essentially a deconsolidation
of the single capital account published by the
Commerce Department (1966 National Income
Supplement, Table V - Gross Saving and In­
vestment, page xiii). In that account all finan­
cial claims within the United States are offset
against one another, and there is no recording
of financial flows within the economy or of
financial investment by individual sectors. The
consolidation leaves a measure of net financial
investment for the economy as a whole that is


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conceptually the same as net foreign invest­
ment - the excess of U.S. lending abroad over
U.S. borrowing abroad.
The flow of funds deconsolidation distributes
the national totals of saving and tangible in­
vestment among domestic sectors. It introduces
explicit recording of financial flows among
sectors, detailed by type of instrument, that
indicates the routes - direct or through inter­
mediaries - by which sectors, such as house­
holds, that have excesses of saving over physi­
cal investment lend to sectors, such as business
and governments, that may have an excess of
spending.
The position of the Commerce Department
capital account in the flow of funds system is
described in Tables 4 and 5, by using data
for the year 1961. These tables refer to Com­
merce Department categories of saving and in­
vestment as presented in the 1966 National
Income Supplement (page 79).

1.28

SAVING AND INVESTMENT
TOTALS
Table 4 gives the relationship among the na­
tional totals of saving and investment in the two
systems of accounts. Total gross national saving
(line C) in the flow of funds accounts is equal
to the Commerce Department total with the
one major exception that purchases of con­
sumer durable goods have been treated in the
flow of funds accounts as capital expenditures
rather than as consumption. This shift produces
a smaller amount of current outlays and a larger
amount of saving in flow of funds accounts.22
This treatment of durable goods is based on
the consideration that expenditures on con­
sumer durable goods are, in a financing con­
text, closely similar to those on producers'
durables: ( 1 ) a household purchase of dur­
ables typically represents an investment in a
product that will be useful over a period of
several years; (2) consumer durable goods
substitute to a significant degree for related
business capital equipment; and (3) purchases
of durable goods are debt-financed to a large
extent. To bring consumer durable goods into
the complex of saving and investment, a total
for household saving is taken before deduction
for these purchases, and total saving and invest­
ment are correspondingly higher.
The flow of funds accounts have a somewhat
different distribution from Commerce accounts
between private and public saving. This dif­
ference arises from the treatment of govern­
ment life insurance and retirement fund activi­
ties. In the Commerce accounts government
life insurance and retirement fund transactions
with households are treated as social insur_ance
contributions and transfer payments in the cur­
rent account, both part of personal income.
22 The shift includes introducing capital consumption
allowances for consumer durables but is made �ithout im­
puting income from use of durables to total income or
services from durables to product.

In flow of funds, however, life insurance and
pension claims by households are established
as part of household assets, and claims of these
types against government funds are treated
the same as private insurance and retirement
relationship. This difference in distribution
shifts saving from governments to households
relative to the Commerce Department accounts
but has no effect on total saving. 23
Federal Government insurance funds are
consolidated directly into the Government's
capital account on page 14 of the tables, where
net growth in insurance reserves is deducted
from current surplus and appears as a financial
source of funds under liabilities. State and local
employee retirement funds, however, are shown
as a financial sector separate from the operating
accounts of these governments. The treatment
there is to transfer savings from general govern­
ment on page 14, line 6, to households and to
impute a lending from households to the retire­
ment funds on page 20. The amount of both
transactions is measured by total net growth
in the funds' assets.
In Table 4, the only difference between
the measures of gross private domestic in­
vestment (line D) in the two systems is the
presence of consumer durables in the flow of
funds total, as discussed above. The one other
difference in total investment is in the measure­
ment of net foreign investment. In the Com­
merce Department accounts, net foreign invest­
ment is measured as the net of current account
transactions in balance of payments - im­
ports, exports, and unilateral transfers. In flow
of funds accounts, net foreign investment is
defined as one form of net financial investment
and is in fact a consolidation of that item for
all domestic sectors. It is measured as the excess
of foreign borrowing from the United States
23 Government retirement funds here cover government
employees and persons covered by railroad retire�ent. Old­
age and survivors insurance is treat�d �he same m the two
_
accounting systems; in neither does 1t give nse to household
saving.

1.29

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TABLE 4 GROS� NATIONAL SAVING AND INVESTMENT-SUMMARY COMPARISON, 1961
(Millions of dollars)

Item
Gross private saving
B Government surplus

A

C Gross national saving
D Gross private domestic investment
E

Net foreign investment

F Gross national investment
G Statistical discrepany ( C - F)

Income Flow of
and
product funds

Difference

Lines Band C
Insurance and pension funds

79,818
-4,334

-7,728

127,392

47,524
-3,394

75,484

119,664

71,699

115,879

3,035

2,029

Consumer durables
Consumer durables
Errors
and omissions in balance
-1,006 {
of payments statement

74,734

117,908

43,135

750

1,756

1,006

over foreign lending to the United States and
is thus a net figure in the capital rather than
current account of the balance of payments
statement. The net current balance and net
capital balance, which in concept should be
equal, differ statistically by the amount of
errors ·and omissions in the balance of payments
statement, which thus appears as the difference
between the net foreign investment totals on
line E of Table 4. As may be seen from Table
4 (line G), this difference in foreign investment
totals is reflected in a difference between the
income and product statistical discrepancy and
flow of funds discrepancy between saving and
investment (row 44, last column, of the matrix,
page 1).24

SECTOR DISTR_IBUTION OF
TOTALS
Table 5 spells out the allocation of national
saving and investment among flow of funds
sectors. Part A. l shows the allocation among
24 The flow of funds saving-investment discrepancy is to be
distinguished from the nonfinancial discrepancy that appears
in the matrix, row 1, discrepancy column. The latter matches
total gross saving (the net on current nonfinancial transac­
tions), including the foreign sector's, with total nonfinancial
investment (row 5). In this matching, the foreign component
is the balance of payments current-account balance (with
opposite sign) used as net foreign investment in the Com­
merce Department statement. The flow of funds nonfinancial
discrepancy is thus identically equal to the Commerce Depart­
ment statistical discrepancy, although opposite in sign.


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Source of difference

44,180
44,180

Lines D and E
Line E

the flow of funds sectors of each component of
total saving as published in the income an'd
product accounts (total column). Part A.2
shows the changes in the total and their dis­
tribution in the flow of funds accounts occa­
sioned by differences in treatment of specific
transactions. Part A.1 is based entirely on
Commerce Department data underlying the in­
come and product accounts, whereas A.2 is
based on flow of funds estimates except for
consumer durables. In A.1, a few specific
points of allocation should be mentioned. Cor­
porate farms are in the farm sector, and house­
hold capital consumption on line 8 is on owner­
occupied housing and nonprofit facilities. Mu­
tual savings banks are included with savings
institutions rather than with banking as in Com­
merce Department tables.
Gross saving of nonfarm nonfinancial cor­
porations in flow of funds is different from the
Commerce Department total of cash flow net
of dividends (for example, Survey of Current
Business, September 1965, page 53) only in
that the figure in Table 5 includes inventory
valuation adjustment and net profits of branches
abroad and excludes farm corporations.
The major differences in transaction treat­
ment between the two accounting systems,
recorded in Part A.2 of Table 5, have been
discussed in relation to Table 4: consumer

1.30

TABLE 5 SAVING AND PHYSICAL INVESTMENT IN FLOW OF FUNDS ACCOUNTS, 1961
(Millions of dollars)
Nonfinancial business
Item

Total

NonHouseholds Farms corp.
nonfarm

Corp.
non- Total
farm

Government
BankState
and Federal ing
local

Savings
institutions

Insurance & Other
pen- finance
sion
funds

A.1 Allocation of Nl&P saving among F/F sectors
1
2
3
4
5

6
7
8
9
10
11
12
13
14
15
16
17

18
19
20
21
22

Personal saving
Undistributed corp. profits
Corporate IVA
Wage accruals less disburs.
U.S. Government surplus
State & local govt. surplus
Net natl. saving (Nl&P)
Cap. consumption allows.:
Corporate
Noncorporate
Gross natl. saving (NI&P)

21,151 21,151
13,475
-52
0
-3,812
-522
30,240 21.isi

10,iss 10,163
-52
-52
0
0

-25

10,136 10,111

-25

6,soi

147
26,240
25,438 25,585
19,004
12,502
4,062 8,440
75,484 27,653 4,184 8,440 35,574 48,198

-sii

-522

1,087

992 1,049

184

1
2
3
4

-3,sii 1,087

992 1,049

is.i

6
7

0
-3,812

5

321

50

204

-522 -3,812 1,408

1,042

1,253

80 8
9
264 10

A.2 Transaction differences between NI&P and F/F affecting saving
11
44,180 44,180
Consumer durables
12
1,017
-1,017
U.S. Govt. insur. & pen. res.
13
State & local govt. pen. res.
2,377
-2,377
-499 14
Cap. gns. dvds. of inv't. cos.
499
Gross natl. saving (F/F)
119,664 75,726 4,184 8,440 35,574 48,198 -2,899 -4,829 1,392 1,058 1,253 -235 15
Depree. on consumer dur.
16
41,309 41,309
Net natl. saving (F/F) =
15-8-9-16
33,111 27,915 -25
10,136 10,111 -2,899 -4,829 1,087
992 1,049 -315 17
Nonfarm residen. constr.
1- to 4-family houses
Other
Farm residen. constr.
Nonresiden. plant & equip.
Change in business invent.
Gross pvt. dom. inv. (Nl&P)

23 Consumer durables
24 Gross pvt. dom. inv. (F/F)
n.e.
NI&P

B.1 Allocation of gross private domestic investment in NI&P among F/F sectors
22,043 17,569
2,580 1,894 4,474
18
17,827 17,569
128
258
130
4,216
2,450 1,766 4,216
602
602
602
19
47,032 2,980 3,537 6,556 33,238 43,331
275
n.e.
n.e. 20
446
2,022
279
222 1,521 2,022
21
71,699 20,549 4,418 9,358 36,653 50,429
275
n.e.
446
n.e. 22
B.2 Transaction differences between NI&P and F/F affecting investment
44,180 44,180
115,879 64,729 4,4i8 9,358 36,653 · 50,429
275
n.e.
446

= Not estimated.
= National income and product account.

IVA
F IF

durables (row 11), which affect total saving,
and government life insurance and retirement
funds (rows 12 and 13), which affect only
distribution among sectors. Part A.2 has one
further adjustment to allocation of saving
among sectors - capital gains dividends of
open-end investment companies, both cash and
retained, are treated in Commerce Department
accounts as a capital transfer rather than a
dividend component of personal income. In
flow of funds these are a current account pay­
ment from investment companies to households
in order to avoid using a capital transfer ac­
count in the system for this one item. Saving is
reallocated accordingly.
Line 18 gives a flow of funds estimate of


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23
n.e. 24

= Inventory valuation adjustment.
= Flow of funds.

capital consumption on consumer durable
goods needed to derive net household and
national saving in the flow of funds accounts,
where such durables are viewed as capital
goods rather than consumption at the time pur­
chased. The estimate is a declining-balance
calculation in constant dollars on 10 classes of
durables; the result is · stated in current-year
prices.
Part B.1 of Table 5 shows sectoring of totals
of gross private domestic investment by type.
Both totals and details are estimated by the
Commerce Department. Business investment in
1- to 4-family units represents only changes in
work in process on houses for sale to house­
holds and is essentially an inventory-change

1.31

component of the total residential figure.25
Other residential construction consists of multi­
family units, additions and alterations, and
nonhousekeeping units. That part of other resi­
dential construction allocated to households is
mainly additions and alterations, but it includes
a small amount of multifamily and nonhouse­
keeping construction for nonprofit organiza­
tions. Farm residential construction is allocated
to farms as purchasers, since it . is com­
mingled with other farm expenditures in
financing. Nonresidential plant and equipment
(line 20) is allocated as a single figure among
25 All income and product and financial activities asso­
ciated with owner-occupied housing are allocated directly to
households in flow of funds. This includes purchases of com­
pleted new houses, additions and alterations, mortgage bor­
rowing secured by such properties, capital consumption
allowances, imputed rents in consumption, and imputed net
rental income. The noncorporate business account includes
only activities in cash rental housing and in construction
itself.

sectors rather than separately for construction
and producers' durable goods. The household
allocation is for plant and equipment of schools,
churches, and other nonprofit organizations.
Table 5 carries no allocation of net foreign
investment among domestic sectors. Each sec­
tor's net foreign investment is part of its net
financial investment, but not yet entirely identi­
fiable as such. To complete identification would
require allocation of miscellaneous financial
sources and uses of funds in the balance of
payments statements that are occasionally
sizable but not specified as to nature. Pending
further specification of those items, net foreign
investment can be viewed only as the con­
solidated total of net financial investment for
the United States, mixed, for individual sectors,
with similar net investment in domestic claims.

IV DEFINITION OF SECTORS AND TRANSACTION
CATEGORIES
SECTORS
Any group for which a complete statement of
sources and uses of funds has been estimated in
flow of funds accounts can constitute a sector
for analytic purposes. At the most detailed
level there are about 20 such sectors for which
data are maintained on a continuing basis. In
table presentations and discussions of the data,
these elemental sectors are often combined into
broader sector groupings, which. can also be
treated as sectors analytically.

Sector structure

The matrix on page 1 simultaneously shows
two levels of sector detail, of which one is a
very broad summary of the accounts into four
sector groups - private domestic nonfinancial,
U.S. Government, finance, and foreign - while
the other breaks the private domestic and the


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finance into three parts each. Flow of funds
publications frequently carry, as on page 49, a
submatrix for nonbank financial sectors at the
most detailed level available.
The sector structure from the most detailed
level to the broadest groupings used in the
sector and transaction accounts tables is as
shown in Table 6.

Sector definitions

Households include - in addition to persons
as members of households - personal trusts
and nonprofit organizations serving individuals,
such as foundations, private schools and hos­
pitals, labor unions, churches, and charitable
organizations. There are no separate data avail­
able on a continuing basis for personal trusts
and nonprofit organizations. Their importance
in the financial transactions of the sector might
be estimated for the early 1960's when, of

I.32

total sector financial assets on the order of
$1,100 billion, roughly $60 billion were in
bank-administered personal trusts and perhaps
$25 to $30 billion in nonprofit organizations.
The household sector excludes farm and non­
corporate business activities of individuals. On
housing, see footnote 25.
Farm business covers all farming activities in
the United States including corporate farms.
The sector includes farm credit cooperatives
consolidated with the farms that own them, and
it includes farm housing activities. Consump­
tion activities of farmers are in the household
sector. Farm income in the accounts is as
defined and measured for national income pur­
poses, including imputed incomes. Except for
retained profits of corporate farms, income is
transferred entirely to the household sector and
is reflected in household saving. Owner equity
investments in noncorporate farming enter the

TABLE 6 SECTOR STRUCTURE

Households
Farm business
} Noncorporate
.
busmess
Nonfarm noncorporate business
.
Corporate nonfinancial business
State and local governments general funds
Rest of world
U.S. Government
Federally sponsored credit agencies
Monetary authorities
} Banking
system
Commercial banks
Savings and loan associations
Savings
!
Mutual savings banks
institutions
Credit unions
Life insurance companies
Other insurance companies
lmsuranre
Private pension funds
State and local govt. employee
retirement funds
Finance companies
Security brokers and dealers
Finance
Open-end investment companies
not elsewhere
Agencies of foreign banks
classified
Banks in U.S. territories
and possessions


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!

l

farm sector through the transaction account
"equity in noncorporate business."
To the extent that farmers commingle house­
hold and business activities in their own ac­
counts, this sector departs somewhat from the
principle that all activities of a unit are to be
in a single sector account. The farm business
sector can be viewed as an activity subaccount
of the household sector, with connection
through the proprietors' equity transaction
account.
Nonfarm noncorporate business consists of
partnerships and proprietorships in nonfinancial
enterprises, including individuals' rental activi­
ties and the professions. Like farming, this sec­
tor is treated in the accounts as an activity sub­
account of the household sector: all current
income is transferred to households, net sav­
ing is shown as zero, gross saving is equal to
capital consumption allowances, and all changes

Nonfinanc1a
• 1
business

Private
nonbank
finance

1.33

Private
domestic
nonfinancial

Non­
financial

Finance

in equity capital appear as net inflows in "pro­
prietms' _net 'investment" ( q.v.).
Corporate nonfinancial business comprises
all private corporations not specifically covered
in financial sectors. It includes holding com­
panies and closed-end investment companies on
a consolidated basis, and it includes real estate
firms. It is identical with the nonfinancial cor­
porate group shown in Commerce tables except
that it excludes farm corporations. Activities
of pension, welfare, and profit-sharing funds
are .,.excluded from the sector to the extent that
they are excluded from basic data in corporate
tax returns.
State and local governments - general funds
comprise all political subdivisions of the United
States, and all corporations, enterprises, debt­
issuing authorities, and trust funds operated
by these subdivisions, other than employee re­
tirement funds; these last are shown separately
as a financial sector. Basic data for the sector
are the aggregates in the U.S. Census Bureau's
Census of Governments.
Rest of the world is as defined in the balance
of payments statement for the United States,
and the data in this sector account are from
.that statement, with financial transactions clas­
•sified into flow of funds categories and non­
financial transactions as published in the income
and product accounts. The sector discrepancy
is "errors and omissions" in the balance of pay­
.ments statement.
U.S. Government covers, for all years, the
.agencies and funds that are in the Government's
unified budget as of 1969, except the District of
·Columbia. Included are the Exchange Stabiliza­
tion Fund, employee retirement funds, life in­
surance funds, and all corporations that are
,wholly or partly owned by the Government.
·Ma�y of these agencies operate lending pro­
grams, and a few issue their own debt to the
public separate from Treasury securities. The


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sector does not include the Federal Reserve Sys­
tem and certain Treasury monetary accounts
that constitute the monetary authority sector,
and it does not include a set of sponsored credit
agencies described below. The sector account
is consolidated, and transactions and claims
among agencies are not shown.
Federally sponsored credit agencies are a fi­
nancial sector consisting of five types of special­
ized lending institutions that had originally been
created by the Government and owned by the
Government to varying extents. Government
equity has been fully retired, and they are now
excluded from the Government budget accounts
as private institutions. In flow of funds accounts
they are separate from the Government sector
for all years. These agencies finance their lend­
ing activities mainly through issues of their own
debt securities, and through 1969 such issues
have been closely coordinated with Treasury
debt operations. The agencies are:
Agency

Federal home loan banks
Federal National Mortgage
Association
Federal land banks
Federal intermediate credit
banks
Banks for cooperatives

Principal type of credit
Loans to savings and loan
associations
Residential mortgages

Farm mortgages
Short-term farm credit
Short-term farm credit

Monetary authorities consist of the Federal
Reserve System and certain monetary accounts
of the Treasury: the gold account, the silver
account, and an account constructed to record
other currency liabilities of the Government and
the assets behind those liabilities. The sector is
identical with the group of institutions and ac­
counts for which the "Member Bank Reserves,
Federal Reserve Bank Credit, and Related
Items" table in the Federal Reserve Bulletin is
a sources and uses of funds statement. The
"Factors supplying reserves" are assets and the
"Factors absorbing reserves" are liabilities. The
principal liabilities are thus bank reserves and
currency in circulation, and the principal assets

1.34

are U.S. Government securities, gold, bank
borrowings from the Federal Reserve, Federal
Reserve float, and Treasury currency - assets
that are backing for the reserve money of the
economy.26
Commercial banks cover all banks in the 50
States, as defined by the coverage of all-bank
statistics in annual reports of the Comptroller
of the Currency. The sector excludes banks in
U.S. territories and possessions, which are in
finance n.e.c. This sector is in flow of funds on
a .consolidated basis: all deposit and loan rela­
tionships among domestic commercial banks
have been washed out. Interbank items in gen­
eral add to different totals as assets and as lia­
bilities because of items in transit and classi­
fication variances, and the net differences are
included in the sector account as miscellaneous
unallocated liabilities.
Savings and loan associations are defined by
the coverage of firms published by the Federal
Home Loan Bank Board, including noninsured
associations.
Mutual savings banks are similarly defined
by the coverage of firms published by the Na­
tional Association of Mutual Savings Banks.
Credit unions are the Federal- and State­
chartered units covered in data published by
the Bureau of Federal Credit Unions in the
Department of Health, Education, and Welfare.
Li/e insurance companies are those covered
in the Life Insurance Institute's Fact Book but
exclude fraternal orders. Government life in­
surance programs are also excluded; they are in
the U.S. Government sector account.
Other insurance companies are the fire,
26 The structure of "Bank Reserves and Related Items" is
described in detail in "Member Bank Reserves and Related
Items," Section 10 of Supplement to Banking and Monetary
Statistics (Board of Governors of the Federal Reserve Sys­
tem, 1962). The flow of funds sector statement treats foreign
exchange holdings as a positive asset rather than a negative
liability and classifies minor items somewhat differently but
otherwise represents the Member Bank Reserves, Reserve
Bank Credit, and Related Items table.


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casualty, and other companies covered in Best's
Aggregates and Averages.
Private pension funds are defined in the an­
nual statistics on self-administered pension
funds published by the Securities and Exchange
Commission. They include retirement funds of
nonprofit organizations and multiemployer plans
shown in those data. Their total assets are
treated as a holding in trust for the household
sector and are the measure of a pension reserve
liability to households. By this treatment pen­
sion funds have zero saving by definition. The
current-account transactions that affect pen­
sion-fund assets are imputed to households and
are reflected in personal saving. This money is
then advanced to pension funds by households
in the financial accounts.
State and local government employee retire­
ment funds are the group of such funds reported
in the Census of Governments. They have the
same position in the accounts as private pen­
sion funds, with zero saving and a liability to
households equal to their assets. A current­
account transfer of saving from governments to
households is required to finance this household
investment, however, because in the income and
product accounts the saving is attributed to gov­
ernments. This is described on page 1.29.
Finance companies comprise sales finance,
consumer loan, and commercial finance com­
panies covered in the Federal Reserve's 1960
and 1965 Censuses of Finance Companies. The
group also includes mortgage companies.
Security brokers and dealers are based on
aggregates for such firms registered with the
Securities and Exchange Commission.
Open-end investment companies (mutual
funds) are the group reported by the Investment
Company Institute. Closed-end companies are
consolidated with the nonfinancial corporate
business sector.
Agencies of foreign banks are U.S. offices that

1.35

do a financial business in U.S. markets but that
are not chartered to accept deposits from
Americans. They are a group defined in classifi­
cation lists of the Comptroller of the Currency.
They include certain domestic financial firms
not classified as banks by the Comptroller.
Banks in U.S. territories and possessions are
those tabulated in annual reports of the Comp­
troller of the Currency.
Discrepancy, the last column in the matrix,
records the residual excess of total sources over
total uses of funds along each transaction row.
These discrepancies have the sign of a net use
of funds. In an accounting sense the discrep­
ancy column is the last sector account needed
to complete the matrix. As indicated in descrip­
tions of transaction accounts below, many of
these discrepancies have substantive meaning
and are not solely the result of statistical defi­
ciencies. The discrepancy for nonfinancial trans­
actions is identically equal to the statistical dis­
crepancy in the income and product accounts
( with sign reversed), reflecting the integration
of Commerce data into the system discussed in
Section III. Transaction accounts with zero
discrepancies have residual estimates along the
row for some actual sector's transactions in the
account. Typically the residual is in the house­
hold account, but not always. The discrepancy
column is discussed below in its relation to the
discrepancy transaction row.

TRANSACTION CATEGORIES

Current-account transactions are not shown on
a basis that is uniform for all sectors. In the
matrix, which is a sectoring of the economy's
capital account, all current items are netted to­
gether into gross saving as a source of funds to
capital account. In individual sector accounts a
certain amount of current-account information
is included to indicate links between gross sav­
ing and the income and product data from which
it is derived. For households the items are di­
rectly identifiable in the income and product
statistics except two that are from other sources.
Current items for corporate business are those
for nonfinancial corporations in income . and
product with farm corporations excluded as part
of farm business. Branch profits from foreign op­
erations are added to undistributed profits from
domestic activities in measuring total internal
funds. Inventory valuation adjustment is in­
cluded for consistency with the inventory invest­
ment figure included in GNP and business
capital account.

Capital nonfinancial
Capital nonfinancial transactions - saving and
investment - are described in Section III in the
discussion of the relationship of the Commerce
income and product data to the flow of funds
matrix.

Financial

Transactions in the flow of funds accounts are
arranged in three major transaction groups current nonfinancial, capital nonfinancial, and
financial. In addition there are several internal
entries, subtotals, and transfers between current
and capital subaccounts, such as capital con­
sumption charges, current surplus, saving, in­
vestment, corporate profits, and unincorporated
business net income. Many sectors also have a
residual discrepancy item - the excess of sav­
ing over investment in the data.


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Current nonfinancial

All financial transactions are entered into the
accounts in a particular form of net, basis: asset
sales by a sector are entered as negative uses
of funds - deductions from purchases of the
same kind of asset - whereas debt repayments
are entered under sources as deductions from
new borrowing of the same type. There are in
the matrix no deductions of liabilities against
assets either within a type (for example, house­
hold mortgage assets and liabilities are entered
separately), nor in different types ( such as a

1.36

deduction of security credit from security hold­
ings).27 Certain time-series tables of the ac­
counts show such deductions, but they are
within special formulations and not part of the
general structure of the accounts.
Net financial investment for each sector is the
excess of net acquisitions of financial assets over
net increases in liabilities. It measures net funds
advanced by each sector to all other sectors.
Net financial investment for each sector plus the
statistical discrepancy for that sector equals the
sector net surplus on all nonfinancial transac­
tions.
Table 7 lists the types of financial claims for
which separate transaction accounts are main­
tained in the flow of funds accounts. The items
listed are categories normally shown in the pub­
lished tables. Some are sums of subcategories
for which accounts are also maintained; sub­
categories are indented. The groupings are those
frequently used to summarize transaction ac­
counts.
Monetary reserves. "Gold" consists of gold
held as a monetary reserve. Transactions in gold
are recorded only for monetary authorities, the
. Exchange Stabilization Fund in the U.S. Gov­
ernment sector, and the rest of the world. All
gold transactions are treated as uses of funds,
and no liability is imputed for not holding gold.
"Official foreign exchange position" is as de­
fined in balance of payments accounts - con­
vertible foreign currencies and the net IMF
gold tranche position. This is a liability of the
rest of the world and a net asset distributed be­
tween the U.S. Government (Treasury holdings
of currencies plus IMF subscription less IMF
notes and letters of credit) and monetary au­
thorities (Federal Reserve holdings of curren­
cies less certain deposits of the IMF).
"Treasury currency" consists of silver held as
27 The one exception to this rule in the matrix is the net
International Monetary Fund position (capital subscription
less certain IMF clai,ms on the United States), which on a
net basis is counted in the U.S. foreign exchange position as
an asset.

monetary reserve by the domestic economy and
certain asset-debt relationships between the
banking system and the Federal Government in
connection with the monetary system - seign­
iorage on silver, deposits with the U.S. Govern­
ment for redemption of Federal Reserve Bank
notes and national bank notes, and liability of
U.S. Government in connection with minor coin
and United States notes backed by gold re­
serves.28 Transaction flows for this category
occur only between the Treasury and the mone­
tary authorities.
The large difference between total assets and
total liabilities in the estimates of amounts out­
standing reflects the fact that gold and silver are
shown in the accounts as assets but not as lia­
bilities (except seigniorage revaluations on sil­
ver, which are treated as a U.S. Government
liability). Gold and silver are treated as tangible
assets rather than as claims.
Deposit claims on financial institutions. "De­
mand deposits and currency" covers demand
deposits at commercial banks in the United
States, Government and foreign deposits at Fed­
eral Reserve Banks, and U.S. currency outside
banks. The definition is identical with that of
money supply plus U.S. Government depos­
its in the daily-average statistics on money
supply.29
The matrix on page 1 indicates in the discrep­
ancy column differences in this category be­
tween liabilities as seen in bank records and
assets as recorded in holder-sector accounts.
These differences are mail float, representing
checks in the mail that are moneys no longer
on the books of senders and not yet on the
books of receivers. Mail float relates to checks
that have not yet entered the banking system
28 For a detailed discussion of these relationships, see Flow
of Funds in the United States, 1939-1953 (Board of Governors
of the Federal Reserve System, 1955), chapter 17.
20 A very small exception is IMF deposits with the Federal
Reserve, which in flow of funds are negative m the foreign
exchange position. Apart from this, relation to money supply
is presented in the Federal Reserve Bulletin, August 1962,
p. 945.

I.37

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TABLE 7 FINANCIAL TRANSACTION CATEGORIES
Gold
Official foreign exchange position
IMF gold tranche position
Convertible foreign exchange
Treasury currency

l Monetary reserves

!

Demand deposits and currency
Private domestic
U.S. Government
Foreign
Time deposits at commercial banks
Savings accounts at savings institutions
Life insurance reserves
Pension fund reserves

}

Interbank claims

U.S. Government securities
Treasury issues
Short-term
Other marketable
Savings bonds
Nonguaranteed agency issues
Loan participation certificates
State- and local obligations
Corporate and foreign bonds
Corporate stocks
Home (1- to 4-family) mortgages
Other mortgages
Consumer credit
Instalment
Noninstalment
Bank loans n.e.c.
Other loans
Open market paper
Finance Co. loans to business
U.S. Government loans
Sponsored credit agency loans
Loans on insurance policies


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Insurance and pension
reserves

\
Credit market instruments

Security credit
Owed by brokers and dealers
Owed by others
Taxes payable
Trade credit
Equity in noncorporate business
Miscellaneous
Deposit claims
Equities
Insurance claims
Unallocated claims and bank floats
Sector discrepancies

Deposit claims on
financial institutions

Other claims

1.38

clearing procedure. It exists in parallel with and
separate from cash items in process of collec­
tion and Federal Reserve float. Cash items and
Federal Reserve float are deducted from gross
demand deposit liabilities of banks to consoli­
date the bank liability down to an amount owed
to nonbanks. 30 Mail float is a further deduction
to arrive at holder records of money balances.
This deduction of mail float is necessary to
bring holder entries for cash into consistent tim­
ing with the other entties in nonbank accounts.
It is mainly an accounting requirement, how­
ever, and does not imply that holder records are
analytically more important than bank records.
In general the public looks at the bank record
of its deposits as more relevant in managing
cash than the balance on its own books. Were
it possible statistically to shift timing of all non­
cash entries in sector accounts to a basis con­
sistent with bank record of money supply lia­
bility, the entire body of accounts would perhaps
be improved for analysis. Short of this the mail
float deduction is necessary.31
Mail floats are shown in the matrix for private
domestic and for U.S. Government deposits.
Foreign deposits are on a bank-record basis in
the balance of payments accounts ( and hence
here), consistent in timing with at least the large
bulk of capital-account transactions.
A mail float in demand deposits implies cor­
responding floats in many if not all other transao The role of these items in measurement of money supply
is described in the Federal Reserve Bulletin, October 1960,
pp. 1108-12. The money supply as published by the Federal
Reserve is a banking-system liability record rather than a
holder asset record.
31 Statistically, mail float is estimated directly and used in
calculating household cash as a residual. The nature and
meaning of household cash as an "other-party" record are
discussed in George Garvy, "The Float in Flow-of-Funds
Accounts," Flow of Funds Approach to Social Accounting,
vol. 26 of Studies in Income and Wealth, NBER, pp. 431-61.
A further note on the meaning of the bank-record liability:
If all check-writing were to cease for a fortnight and all
checks in the clearance system to reach their final destina­
tion, both the bank gross records of liabilities and holder
records of assets would settle at the level of demand deposits
shown in money supply statistics, that is, net of cash items
and Federal Reserve float. Bank records would come down
from a higher level and hold�r records up from a lower level.
It is this ultimate view of the present state of balances plus
checks in transit that in general has most meaning to the
public as a cash balance.


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action categories. As a general matter records
of sales and purchases and of lending and bor­
rowing are not timed simultaneously, and it is
not possible to balance both sector accounts
and transaction accounts without float · items.
Statistically, most of these floats cannot be esti­
mated. The largest volume of transactions gen­
erating float is undoubtedly in trade credit, how­
ever, and as noted below, a float exists in the
system for that account.
Time and savings accounts consist of all time
deposits at commercial banks (including nego­
tiable certificates of deposit) and all deposit and
share accounts at mutual savings banks, savings
and loan associations, and credit unions. Flows
include crediting of interest and dividends as
well as deposits and withdrawals. Postal Savings
System deposits are in the miscellaneous cate­
gory, and savings bonds are in U.S. Government
securities.
Insurance and pension reserves. "Life insur­
ance reserves" are established in the accounts as
a claim by households as policyholders against
life insurance companies and U.S. Government
insurance programs. The category covers de­
posit claims of policyholders and beneficiaries
against insurance companies arising from sup­
plementary contracts not involving life contin­
gencies. Policyholders' borrowing on policies
from insurance companies and from Govern­
ment insurance programs is a positive element
of the other loans category rather than a nega­
tive element here. Statistically, the category is
estimated to be equal to changes in policy re­
serves against private an� U.S. Government life
insurance policies, including individual and
group annuities and supplementary contracts.
Changes in policy dividend accumulations and
accident and health reserves are in the miscel­
laneous transaction group as liabilities to policy­
holders. 32
"Pension fund reserves" are in the accounts as
32 Measurement of life insurance claims is discussed in the
Federal Reserve Bulletin, August 1959, p. 837.

1.39

a claim of households as beneficiaries against
retirement programs. It covers private pension
plans (both those administered by insurance
companies and other private plans, and both
vested and unvested plans), government em­
ployee retirement funds, and the Railroad Re­
tirement Fund. It does not cover the OASI
social insurance program. Statistically, the cate­
gory is estimated as equal to changes in reserves
of private plans administered by insurance com­
panies and changes in assets of other private
plans, government employee retirement funds,
and the Railroad Retirement Fund.33
"Interbank claims" are a set of claims be­
tween the Federal Reserve System and com­
mercial banks. They wash out when the two
sectors are consolidated into a single banking
system sector having all of the liability for
money supply and U.S. Government deposits.
Vault cash and member bank reserves at Fed­
eral Reserve Banks are monetary authority lia­
bilities to commercial banks, and member bank
borrowing and Federal Reserve float are lia­
bilities of banks to the monetary authorities.
The component items appear separately in the
sector tables for monetary authorities and com­
mercial banks.
Credit market instruments are a core group
of financial claims that is the principal medium
used by nonfinancial sectors in raising funds
.through formal credit channels. It excludes
trade credit arising in the normal course of busi­
ness, tax liabilities, security credit, and proprie­
tors' equities in noncorporate business. It also
excludes miscellaneous claims, which are mainly
accruals for private sectors and various trust
deposits for the U.S. Government.
Credit market instruments are used by finan­
cial as well as nonfinancial sectors as a source
of funds but to a much smaller extent relative
both to borrowing in this form by nonfinancial
sectors and to borrowing in other forms by fi33 Treatment of pension funds claims is discussed in the
Federal Reserve Bulletin, August 1959, p. 838.


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nancial sectors. In the matrix financial sectors'
borrowing in credit markets is included in the
credit market rows, but the principal summary
tables on credit flows, discussed in Section I
(Table 2), focus on the use of these markets by
nonfinancial sectors.
"U.S. Government securities" consist of (with
one addition noted below) the set of issues in­
cluded in Treasury Surveys of Ownership dur­
ing 1969: all Treasury issues, including savings
bonds, foreign-currency series, and other non­
marketable issues; agency issues by TVA,
Export-Import Bank, and Federal Housing Ad­
ministration and loan participation certificates
sold by Export-Import and GNMA; and issues
by federally sponsored credit agencies, a sep­
arate financial sector. Amounts shown in the
tables are par values held outside the issuing
sectors; they include U.S. Government holdings
of sponsored-agency issues and agency holdings
of Treasury issues. Government liability and
agency holdings include "special issues" held
by home loan banks, which are not in the own­
ership surveys; these special issues are in addi­
tion to the coverage of the ownership surveys.34
Liabilities of the U.S. Government not
covered by this category are the following:
U.S. Government liability
Special notes issued to
the IMF

Transaction category
Negative in official
foreign exchange
position

Trust and deposit liabilities
Certain accrued interest
(beginning fiscal year
Miscellaneous financial
1956)
Postal Savings System
deposits
Currency items in the
public debt
} Treasury currency
Other Treasury currency
liabilities
Trade debt
Certain accounts payable

34 Where maturity detail is shown, "short-term marketable"
consists of all bills, certificates, notes, and bonds due within a
year of the date shown, regardless of original maturity. The
amounts also include part of issues due within 2 years on a
sliding-scale basis. "Other" issues are marketable issues not
classified as short-term and all nonmarketable issues.

1.40

"State anq local obligations" cover the total
debt of all State and local government units,
except loans from the U.S. Government (which
are in other loans) and trade debt. State and
local obligations held by the State and local
government sector are included in both assets
and liabilities of that sector.
"Corporate and foreign bonds" consist of the
bonded debt of U.S. private corporations and
foreign (private, governmental, and interna­
tional agency) bonds held in the United States.
"Corporate stocks" represents net issues of
and transactions in equity securities of private
domestic corporations and U.S. net purchases
of stocks of foreign corporations. The category
includes investment company shares and covers
both common and preferred stock. Figures for
asset levels of sector holdings are stated at
market value, and annual changes in levels differ
fro,n net purchases because of fluctuations in
market price. No estimates of liabilities for cor­
porate stock are attributed to issuing sectors
except open-end investment companies. These
companies differ from other corporations in
that they have an obligation to redeem shares
on demand at values based on current values
of portfolio assets.
"Home mortgages" cover all debt secured by
1- to 4-family nonfarm residential properties.
The category is statistically the same as the cor­
responding series published monthly in the
Federal Reserve Bulletin.
"Other mortgages" consist of all debt secured
by multifamily residential, commercial, and farm
properties. The category has statistically the
same coverage as the corresponding series pub­
lished monthly in the Federal Reserve Bulletin.
The tables include full statements of borrowing
and lending in the three types separately.
"Consumer credit" comprises short- and
intermediate-term consumer instalment and
noninstalment credit and is statistically the same
as the consumer credit series published monthly
in the Federal Reserve Bulletin.


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"Bank loans n.e.c. (not elsewhere classi­
fied)" cover the following types of bank loans:
1. By the commercial bank sector ( in terms of
call report classifications) :
a. Commercial loans, except open market
paper ( in other loans category) ;
b. Farm loans, except CCC-guaranteed
loans and CCC certificates of interest
( included as a Government liability in
U.S. Government securities) ;
c. Other loans to individuals, except con­
sumer credit (in the consumer credit
category);
d. Loans to foreign banks (loans to
domestic commercial banks are elimi­
nated in consolidating the banking
sector statement);
e. Loans to other financial institutions
except finance company commercial
paper ( in other loans category) ;
f. All other loans.
2. By Federal Reserve Banks:
a. Foreign loans on gold;,
b. Industrial loans.

Real estate and security loans are excluded
entirely from bank loans n.e.c. as credit in the
flow of funds mortgage and security credit
categories.
Both the asset and liability sides of the cate­
gory are measured gross of valuation reserves.
"Other" loans consist of the following types:
1.
2.
3.
4.
5.

6.
7.
8.
9.

Directly placed finance company paper;
Dealer-placed commercial paper;
Bankers' acceptances;
Finance company loans to business;
Loans from U.S. Government (other than
mortgages and trade credit, both included in
other financial categories, and most CCC
direct nonrecourse loans, treated as purchases
of inventories) ;35
Loans other than mortgages by federally
sponsored credit agencies;
Loans other than mortgages and consumer
credit by mutual savings banks;
Policy loans on life insurance policies;
Consumer credit secured by hypothecated
deposits (through June 1966). These loans are
excluded from consumer credit statistics, but
until June 1966 bank statistics included the
loans in assets and the hypothecated deposits
in time deposits. After that time both loans
and deposits are eliminated from monthly
banking statistics and from the flow of funds
accounts. The semiannual call reports on
commercial banks continue to carry the loans
and deposits on a gross basis.

35 CCC loans to cooperatives on tobacco and CCC storage
facility loans are treated as loans and included in the other
loans category.

1.41

Other claims. "Security credit" is loans from
banks for the purpose of purchasing or carrying
securities, loans to security dealers from agen­
cies of foreign banks, and debit and credit bal­
ances with brokers and dealers. This credit is,
in the first instance, an indirect form of supply
of funds to credit markets, rather than a credit
market demand for funds. On the main stem of
the relationship, banks finance private security
holdings through direct security loans and loans
covered by broker and dealer credit to cus­
tomers, and in addition banks finance dealer
direct holdings of securities.
"Taxes payable" is the excess of taxes ac­
crued from a period's operation over taxes paid
during the period. Both U.S. Government and
State and local taxes are included. At present
the item covers only corporate profit taxes, but
it would be useful and relevant to include paral­
lel liabilities for personal income, social insur­
ance, and indirect taxes. Unlike most other
financial items in the accounts, this is not a
claim that has been formally recognized by both
debtors and creditors. Until final settlement on
a year's liability, each party makes his own esti­
mate as to the amount involved. Taxes payable
are nevertheless recognized in financial plan­
ning by both business and governments and in
business accounting.
Because opinions can differ on the amount of
claim, the discrepancy in this transaction ac­
count is different in concept from the mail
floats discussed above. Statistically the liability
side is estimated from corporate balance sheets,
whereas the receivable side is the excess of
Commerce Department estimates of accruals
over governmental reports of actual receipts.
While part of the discrepancy between the two
arises from data problems, an element remains
th�t is conceptual.
Another discrepancy in taxes exists within the
corporate business sector account. Algebrai­
cally, accruals less payment� of profit taxes
should equal the change in the sector's corpo-


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rate tax liability, but in the statistics this is not
the case. Accruals, receipts, and balance-sheet
liabilities are entirely independent of one an­
other statistically, since they are derived from
separate tabulations of profit estimates, govern­
mental receipts data, and corporate balance
sheets, and there are inevitable inconsistencies
in timing, coverage, and estimating procedures
among the three. In addition there is always
some amount of payments or refunds in tax
settlement cases that have not been entered into
either balance sheets or accrual estimates. For
these reasons the three tax items shown in the
corporate sector table typically do not balance
exactly in the statistics.
Tax liabilities include Federal Reserve pay­
ments to the Treasury that have been declared
but not paid. This treatment corresponds to the
income and product classification of such pay­
ments as profit taxes.
"Trade credit" is an approach to a book
credit category; it consists of receivables and
payables ( other than consumer credit, finance
company paper, business debt to finance com­
panies, bankers' acceptances, and other open
market paper). In the flow tables noncorporate
receivables are netted against payables, but in
the tables on amounts outstanding they are
shown separately.
A large mail float exists between receivables
and payables in trade credit for two reasons:
receivables are recorded before buyers have re­
ceived and recorded amounts payable, and buy­
ers write down payables when checks are mailed
and before sellers have received them. This float
is in the transaction discrepancy along with
statistical inconsistencies of the estimates.
"Equity in noncorporate business" represents
net flows of equity funds invested by proprietors
in uninc�rporated businesses, both farm and
nonfarm. No figures on amounts outstanding are
presented in flo\\'. of funds accounts.
Given the statistical and conceptual problems
involved in distinguishing household and busi-

1.42

ness accounts for proprietors of unincorporated
businesses, any measure of proprietors' net in­
vestment must be arbitrary to some extent. For
the annual estimates in the present treatment,
all net income of noncorporate business is
treated as withdrawn by proprietors, and net
saving (retained income) of the firms is arbitrar­
ily put to zero. Gross saving, by this device, be­
comes identically equal to capital consumption
allowances. This means that all investment in
physical and financial assets by noncorporate
sectors beyond the amount of capital consump­
tion is to be viewed as financed externally in the
accounts. Such funds as are not raised from
credit markets or trade debt enter the sectors as
net equity investment by proprietors in the
household sector. To the extent that noncorpo­
rate business has in fact an identifiable retained
income, this treatment overstates household sav­
ing as a source of funds ( by overstating income
receipts), but it also overstates household equity
flows to business as a use of funds by the same
amount. Discrepancies in household or other
accounts are thus unaffected by the treatment.
For the quarterly estimates, it is assumed that
income withdrawals and equity inflows are more
uniform over the year than business income and
that in unadjusted quarterly accounts there are
positive and negative retained earnings that add
to zero over the year. In seasonally adjusted
accounts, retained earnings are zero quarterly
as well as annually.36
"Miscellaneous" financial claims consist of
several forms of specific claim together with cer­
tain commercial bank fl.oats and a variety of un­
allocated sources and uses of funds in sector
statistics. The largest identified flow is direct
investment by U.S. corporations in foreign
branches. Other specific items are equity and
deposit claims on the U.S. Government, foreign
currency holdings, and accrual items arising in
the course of insurance business to such as
36 These remarks apply to noncorporate farms, but it
should be noted that the farm business sector has a small net
saving equal to retained income of corporate firms.


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dividend accumulations and accident and health
reserves in life insurance and prepaid premi­
ums and benefits in fire and casualty insurance.
The unallocated items arise in the course of
sector accounting, when known totals of finan­
cial sources and/ or uses of funds are adopted
as controls for the sector's financial accounts.
Any components of the totals that cannot be
attributed to one of the specific transaction ac­
counts then fall residually into the unallocated
items. As a social accounting practice this is
arbitrary, since unknown items can alternatively
be left in a sector's discrepancy. Treating them
as miscellaneous claims, however, keeps them
within the bounds of financial transactions and
sharpens the meaning of most sector discrep­
ancies.
At the most simple level, the principle is illus­
trated by sector accounts for commercial banks,
life insurance companies, savings and loan asso­
ciations, and mutual savings banks. For each of
these, there exists an established universe esti­
mate of the balance sheet and financial transac­
tions of the industry as a whole.37 For each, the
bulk of financial assets and liabilities is clearly
identifiable in terms of flow of funds transaction
types, but for each there is a minor remainder of
assets and liabilities - mainly income receiva­
ble and expenses payable - that is left unspeci­
fied. These accrual claims are generated by the
calculation of income on an accrual basis and
must be included in financial accounts to main­
tain consistency with income statistics. When
they are included, the sector discrepancy for
each of these groups then becomes a measure
of the statistical inconsistency between, on the
one hand, the body of the income and product
data from which saving and physical investment
are derived and, on the other hand, the body of
balance-sheet data that constitutes financial ac­
counts. That some of the balance sheet is of
unknown nature can be approached within the
framework of financial statistics.
3i Each, in fact, is defined operationally in terms of universe data available.

1.43

Rest of the world unallocated claims are only
slightly different. Here the control totals are
from balance of payments data, and preserving
them maintains the discrepancy in the balance
of payments statement.
For corporations, there are no statistical con­
trols on total assets and liabilities, but there
are totals for current assets and liabilities that
are published by the Securities and Exchange
Commission, and within these totals residual
current items have been included in the mis­
cellaneous category for this sector account.
The SEC estimate for inventories as a current
asset is excluded from this calculation because
inventories are measured in these accounts
from GNP estimates that are statistically in­
dependent of the SEC figures.
In the main, therefore, the corporate sector
discrepancy measures inconsistencies among ( 1 )
gross saving less physical investment as derived
in,income-and-product accounts, (2) net finan­
cial working capital, net security issues, and
long-term bank debt in SEC data, ( 3) balance
of payments information on direct investment
abroad, and (4) flow of funds estimates of
mortgage borrowing.
The miscellaneous account also contains cer­
tain floats in commercial bank data. These
floats, entered as net liabilities, are the excess of
deposit and loan liabilities reported as owed to
U.S. commercial banks over banks' deposit and
loan assets reported as due from U.S. banks.
They include the excess of member bank bor­
rowing reported as a liability over the Federal
Reserve's measure of member bank borrowing
and the excess of the Federal Reserve's figure
for member bank reserves over the asset item re­
ported for banks. To some extent these floats
reflect inconsistencies in classification in bank
reports, but in the main they reflect items in
transit that are of the same nature as mail float
on demand deposits and trade credit. Preserv-


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Federal Reserve Bank of St. Louis

ing these floats in the bank statement maintains
the meaning of the sector discrepancy discussed
above.
Sector discrepancies are the last line of the
matrix, a final transaction account that closes
the matrix vertically. A few sector accounts
have no discrepancy entry because data are
lacking to put together independently estimated
totals of saving and investment. For such sec­
tors - noncorporate business, pension funds,
and most elements of finance n.e.c. - one or
another source or use of funds is derived
residually in the sector account as the amount
needed to balance saving and investment. The
effect is to shift whatever discrepancy actually
exists in the sector's column of data into some
other account - in the first instance, the trans­
action account row that the residual is taken in
and then perhaps into another sector through
further residuals. In any social accounting sys­
tem, the designer in effect chooses where to
show discrepancies or whether to show them at
all. For this and other reasons there may be a
low correlation between actual data errors and
discrepancies as recorded in the system.
For the sectors mentioned in the discussion
of unallocated claims, sector discrepancies rep­
resent inconsistencies between a few major
bodies of data for the sector. For governments
and nonlife insurance, discrepancies are more
complex because totals of financial sources and
uses were built up for these sectors from identi­
fiable components rather than broken down
from clearly demarked totals with unallocated
residuals.
The household sector discrepancy is the most
complex in the system and in general the largest.
Statistically, every transaction of households is
a residual, since every one, even wages and per­
sonal taxes, is derived from the books of other
sectors. The household discrepancy is thus a
final resting place for data inconsistencies

1.44

throughout the system. Because much of the
data in the system becomes available as coher­
ent sector information - as for example, bal­
ance sheets of financial institutions - data in­
consistencies are to a large extent between sector

columns of the structure, such as differences
between borrower and lender records on the
timing of a credit flows. Most of these incon­
sistencies are carried along the transaction rows
into the residual household account.

BIBLIOGRAPHY
EARLIER FORMS OF ACCOUNTS
"A Quarterly Presentation of Flow of Funds, Saving, and Investment," Federal Reserve Bulletin,
vol. 45 (August 1959), p. 828.
Board of Governors of the Federal Reserve System. Flow of Funds Accounts, 1945-62 -1963
Supplement. 1963.
--------------· Flow of Funds in the United States, 1939-1953. 1955.
Copeland, Morris A. A Study of Moneyflows in the United States. New York: National Bureau
of Economic Research, 1952.
"Flow of Funds Seasonally Adjusted," Federal Reserve Bulletin, vol. 48 (November 1962),
p. 1393.
"Revision of Flow of Funds Accounts," Federal Reserve Bulletin, vol. 51 (November 1965),
p. 1533.

OTHER
Dawson, John C., "A Cyclical Model for Postwar U.S. Financial Markets," American Economic
Review, Papers and Proceedings, vol. 8 (May 1958), pp. 145-57.
Dorrance, Graeme S., "Financial Accounting: Its Present State and Prospects," IMF Staff Papers,
vol. 13, No. 2 (July 1966), p. 198.
Flow of Funds Approach to Social Accounting, vol. 26 of Studies in Income and Wealth (Prince­
ton University Press, 1962).

Freund, William C., and Zinbarg, Edward D., "Application of Flow of Funds to Interest Rate
Forecasting," Journal of Finance, vol. 18 (May 1963), p. 231.
Ritter, Lawrence S., "An Exposition of the Structure of the Flow of Funds Accounts," Journal of
Finance, vol. 18 (May 1963), pp. 219-30.
Taylor, Stephen P., "Uses of Flow of Funds Accounts in the Federal Reserve System," Journal of
Finance_. vol. 18 (May 1963), pp. 249-58.


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Federal Reserve Bank of St. Louis

1.45


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SECTOR AND
TRANSACTION
TABLES

*
GUIDE TO TABULAR PRESENTATION


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NA
N.E.C.
SAAR
A
L

s

u

*

Not available
Not elsewhere classified
Seasonally adjusted annual rates
Assets
Liabilities
Sources of funds
Uses of funds
Less than -+- $50 million
Zero
1.47

1. SUMMARY OF FLOW OF FUNDS ACCOUNTS FOR YEAR 196S
(In billions of dollars )
Financial sectors

Privat e dom estic nonflnancial sectors

S ector
Transaction
cat egory
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
43

Gross saYin1 ••.••••••••••••••••••••
Capital consumption .••........•.•
Net saving (1- 2) ....•...........•
Gross lnnstment (5-t-10) ............
Private capital exp en ditur es •........
Consumer durables ................
Resi dential construction ..........
Plant an d equipment ..............
Inventory chang e ..... .. ..........
Net financial investment (11- 12) ....
Financial uses . .....................
Financial sources ...................
Gol d an d off. foreign exchang e •...
Treasury curr ency ................
Deman d deposits an d currency .....
Privat e dom estic ...........•...
U.S. Governm ent ............ ...
For eign .......................
Tim e an d savings accounts ........
At commercial banks ........ ...
At savings institutions . .........
Life insuranc e reserv es ............
P ension fun d r es erv es .............
Interbank it ems ..................
Cre dit mark et instrum ents ........
Corporat e shar es .............•.
Debt instruments ...........•...
U.S . Government securities .....•
State & local obligations ........
Corporate an d foreign bon ds ....
Hom e mortgag es .....•..•••..•.
Oth er mortgages ........••.•.••.
Consumer cr edit ...............•
Banks loans n.e.c. .............•
Other loans ....................
S ecurity cre dit ........••••...•..•
To brokers an d deal ers .....•...
To others .................•....
Taxes payabl e ....................
Trade credit .....................
Equity in noncorporat e busin ess ..•
Misc ellan eous claims ....•.. .....•
Sector discrepancies (1-4) •.••...•.•


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Federal Reserve Bank of St. Louis

House­
holds
u

Business
u

s

.... 108.8
59.9
49.0
112.4
89.6
66.3
19.1
4.1
22·.;
53.
o

30:2

s

Stat e &
local
govts.

Total

u

u

s

U.S.
Govt.

s

u

71.8 .... -2.4 .... 178.2
50.5
.... 110.3
21.4 : : : : ..:...2·.4
67.9
173.9
-3.1
64.6
84.1
173.6
66.3
8.1
27.2
66.3
70.5
9.6
9.6
.2
..:...3',i
-19.5
24.1
81.9
43.5
u ·i:o
81.7

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s

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- .8

3.0
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76.4

3.8
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- 1.4

26.4
13.3
13.1
4.8
12.3

.

2.5

1.0 29.6
- 1.6
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5.4
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15.2
.1
9.1
1.2
10.0
1.6
1.4
12.3
.9
.5 2.6
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2.5
1.9
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.7

28.8
28.8

·.s

-u ...

.2

j

- 3.6

....

32.7
19.5
13.1
4.8
12.3

1.0 29.6

2.5
- 1.9
4.4
2.2
2.3
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-.1
-.6

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....

- 1.4

··3.9

2.2
15.1 9.1
... . -1.9
5.6 4.6
7.2 . . ..

•

6.0
- 1.9
7.6
7.9
2.5
7.3
2.7
1.4
-.2
-.6
1.6
7.6

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.7

.4

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•
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1.3

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66.0

2.8

1.7

66 .0

2.8
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1.7
1.7

7.3
5.4
15.4
10.3
10.0
13.7
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.1 2.2
15.1 9.7
- 1.9 - 1.9
6.8 4.9
4.4 ....

•

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. 2 .9

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74.0
5.7
68.3
1.4
4.6
7.3
15.6
10.9
8.4
16.6
3.5
.3

',i
2.3

2.2

2.3

- 1.3
.2
7.6
8.3
- 1.0
.3
33.1
20.0
13.1
4.7
11.0
.3
12.1
3.1
9.0
2.1

.

. 2·.1

2.4
1.9

u

•

•

....

..
74.2

s

.1
.1
.1

.8
3,0

u

s

3.6
1.0
2.6

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7.2

u

s

- .2

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mercial
banks

S� ���ed J Monetary
r
auth,
ag encies

.4
.
·1:3
30.5
2.2 .... 29.2

.

5.6
6.2
. ... - 1.0
- .1
.4
20.0

2.2

2.3

2.2
.1

2.3
2.1

.5

.6

1.0 ···.2

.7

3.7

.

.2

• -.1
.6

. 2:S

.6

-.5
5.9

•

···.3

.

-.1

•

.7
.4

39.0
5.7
33.3
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7.4
12.0
7.8
3.8

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of
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worl d

All
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u

u

s

·3'j

···.2
1.7
.2

s

1.4 .... - 4.1 .... 177.6
.5
.... 111.3
.9 .... - 4.1
66.3
172.3
- 3.7
174.4
66.3
27.2
71.3
9.6
- 2.1
1.9 .
165.3
40:6
1.7 .4
.4 .4
.2 .2
4.8 7.6
5.9 8.3
-1.4 -1.0
...j
.3 .3
33.1 33.1
20.0 20.0
.6
13.1 13.1
°i3'.i
4.8 4.8
4.7
12.3 12.3
11.0
.3 .3
9.1 -.3 2.6 82.5 82.5
3.4 3.4
3.1 - .4 .3
6.0
.1 2.3 79.1 79.1
3.8 3.8
-.2
7.3 7.3
8.6 8.6
1.9
15.4 15.4
10.3 10.3
10.0 10.0
.4 16.6 16.6
2.4
7.2 7.2
1.7
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.9 .9

Dis­
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u

5.2
3.1

s:, ���-�

.1
2.5
.4

.

. .

.5

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-.3

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- .3
.4

.9

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-.4
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29.0
- 2.3
5.1
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3.1
2.5
4.6
16.6
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29.0

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s

1.2
.4

2.0
2.1

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3.8

u

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.5
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s

Privat e
nonbank
financ e

.2
. °

2 .6

.1 -.4

·.:.:s · 2·.9
-.3

.9 .9
1.3 1.7
15.8 9.8
- 1.9 - 1.9
8.8 13.6
5.2 ....

.4
- 5.9

Na­
tional
saving
an d
inv est­
ment
181.6 1
111.3 2
70.3 3
178.2 4
174.4 5
66.3 6
27.2 7
71.3 8
9.6 9
3.7 10
5,6 11
1., 12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
39
40
41
42
3.4 43

FEBRUARY, 1970
INCOME ANO PRODUCT SUMMARY

I !'COME AND PRODUCT SUMMARY
INCOME ANO PRODUCT ACCOUNTS: GNP EXPENDITURES ANO GROSS SAVING
I BILLIONS OF DOLLARSI

YEAR TOTALS, 1946-56
------------------------------------------------------------------------------------·----------1956
1949
1951
1947
1948
1950
1952
1946
1955
1945
1953
1954
---------------------------------------------------------------------------------------------

YEAR TOTALS, 1946-56

l TOTAL GNP

208.5

231. 3

257.6

256.5

284.8

328.4

345. 5

364.6

364.8

398.0

419. 2

l

2 CURRENT OUTLAYS
STATE AND LOCAL GOVT.
3
4
u. s. GOVERNMENT
5
HOUSE HOLDS
6
O F WHICH CON SUMER DURABLES

170.4
9. 8
l 7.2
143.4
15. 8

185 .8
12.6
12.5
160. 7
20 .4

205. l
15 .o
16.5
173.6
22. 7

214.6
17, 7
20.l
176.8
24.6

228.9
l 9.5
18 .4
191.0
30. 5

265.4
21. 5
37.7
206.3
29.6

291.1
22 .9
51. 8
216. 7
29.3

311. 6
24.6
57. 0
230. 0
33. 2

311.3
27.4
47.4
236. 5
32. 8

328.6
30.l
44.l
254.4
39. 6

345 .3
33.0
45. 6
266. 7
38 .9

2
3
4
5
6
7

7 GROSS DOMESTIC INVESTMENT
9
10
11
12

l3

14
15
16
17
18

19
20
21
22
23
24
25
26
27
28
29

PVT. Ft XED IN VESTMENT
RES !DENTI Al CONSTRUCTION
l-4 FAMILY srnuCTURES
HOUSEHOLD PURCHASES
FARM
CHANGE IN WORK IN
PROCESS ON NONFARM
CORPORATF.
NONCORPORA TE
MULTI-FAMILY UNITS
CORPORATE BUSINESS
NON CORPORA TE BUS !NESS
NONRES. PLANT + EQUIP.
NONPROFIT INST .I HH I
F ARM
NONFARM NONCORP. BUSHIF.S
FINANCIAL C ORPORATIONS
NONFINANCIAL CORPORATION
INVENTORIES
FARM
NON FARM
NONCORPORATE
C ORPORATE

30 NET EXPORTS
EXPORTS
31
32
IMPORTS

36 FEDERAL GOVT. SURPLUS
37 STATE & LOCAL GOVT, SURPLUS
38

C ORPORATE PROF! TS, TAXES , AND DIVIDEl'OS:
PROF ITS - TOT AL
FARMS
FOREIGN
F !NANCIAL CORPS.
NONF !NAN. CORPS.

43
44
45
46

TAX ACCRUALS - TOTAL

47
48
49
50
51

DIVIDENDS - TOTAL
FARMS
NET FOREIGN
FINANCIAL CORPS.
NONFINANCIAL CORPORATIONS

52
53
54
55
56
57
58
59

UNDIST. PROF ITS - TOTAL
FARMS
FOREIGN BRANCH PROFITS
FINANCIAL C ORPORATIONS
NONF INANC IAL C ORPORHIONS
♦ INVENTORY VAL. ADJ.
+ BRANCH PROFITS
= NONFIN. CORPS. , NET

FARMS
FINANCIAL CORPS.
NONF TN ANC !AL

60 TOTAL C AP IT Al CONSU�PT ION
OWNER-OCCUPIED H O M ES I HHI
61
NON PROF IT INST.(HHI
62
FARM NONCORPORATE
63
NONF �RM NON CORPORA TE BUS.
64
TOTAL CORPORATE
65
FINANC !AL BUSINESS
66
CORPOO.ATE FARMS
67
NONF IN ANCIAL CORPORA T IONS
68
MEMO: CAP. CONS. ON CONSUMER DURABLES
NOT INCLUDED ABOVE
69
10
TOT CAP .CONS. INCL OUR ABLES
71 STATI STICAL DISCRf PA NCY


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

34.0

46.0

35.7

54.l

59. 3

51.9

52. 6

51. 7

67 .4

70.0

34 .4
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11.8
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48 .8
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52.l
18.0
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16.2
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53. 3
19. 7
18.3
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26.9
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3. 7
3.9
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27.9
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3.7
4.7
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17 .8

31.8
l .5
3. 8
5.2
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21.0

31.6
1.4
3.5
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34. 2
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33.6
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5.5
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38.l
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6.6
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25. 8

6. 4
6.4
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4.7
l. 7
3.0
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-3.l
-.9
-2.2
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6,8
.8
6.0
l. 2
4 .8

10. 3
l. 2
9.l
•5
8, 6

3,l
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2.1
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2, 2

.4
-.6
1.1
•3
•8

-l.5
.6
-2.l
- .2
-1.9

5.5
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4.9

7.5
14. 7
7. 2

11.5
19. 7
8. 2

6. 4
16.8
10. 3

6.l
15 .8
9.6

I .8
13.8
12.0

3 .7
18. 7
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2 .2
18. 0
15. 8

.4
16.9
16. 6

l. B
17.8
15.9

2.0
19. 8
I 7. 8

4 .o 30
23. 6 31
19.6 32

160.0
15.2
9.5

169. 8
7. 3
4.3

189.1
13.4
7, l

188 .6
9.4
5. 0

206.9
13,l
6. 3

226.6
17. 3
7 .6

238. 3
18.2
7.6

252. 5
18. 3
7. 3

257 .5
16.4
6. 4

275.3
15 .8
5. 7

293. 2 33
20. 6 34
7.0 35

3. 5
1.9

13. 3
1.0

8.4
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-2.4

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9.I
-l. 2

6. 2
-• 4

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-7.0
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4.0
-1. 3

5. 7 36
-.9 37

24.6
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2.I
21.9

31. 5
.2
•7
l.7
2 8, 9

35. 2
,2
,8
2.6
3l.6

28 .9
.1
•8
3. 2
24 .8

42.6
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1.0
3.2
38. 3

43. 9
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I. 2
3. 6
39. 0

38.9
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1.1
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33. 7

.

-5.9
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40.6

38. 3
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1. 4
4, 8
32 .o

48'.6
1.6
5. 0
42.0

48. 8 38
39
I .8 40
5. 2 41
41. 8 42

9.l
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12.5
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lI. 8

10,4
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9. 5

l 7. 8
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1.0
16 .6

2 2. 3
,1
l. 3
20,9

19 .4
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l.6
I 7, 7

20. 3
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1. 8
I 8. 4

l 7. 7

2I.6

8.6

11 .3
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10 .8

2.0
15. 7

1. 8
I 9.8

5. 6

6.3

1.0

7 .2

9. 3

I0,5

•3
•3
6.4

•3
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6.4

8.6
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7. 7

8.9

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5. 8

8. 8
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7. 9

8. 6

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5.l

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7 .8

•3
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8.0

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8. 2

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9.4

9.9

13. 9
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•5
1.0
12. 3
-5 .9
•5
6.9

15,6

11,3

16,0

13.0

11.0

11.5

11. 3

16 .5

,6
1.6
13. 4
-2, 2
.6
ll. 8

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1,8
8. 9
1.9
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ll, 3

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l.7
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2.l
B.2
1.0
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l O. 0

.8
2. 3
8. 5
- 1.0
.8
8. 3

•9
2.2
8. l
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9, 3

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1.9
10 . 3
-1. 2
•8
9.9

8. 7

l,l
2.6
12 .8
-1. 7
l.l
12.2

15.9 52
53
l. 2 54
2. 7 55
12.0 56
-2 .1 57
l. 2 58
10. 5 59

9. 9
l. 3
•2
I .2
2. 5
4. 7
.l

12 .3
l. 5
•2
l.6
3.2

14. 5
l .6
•3
2 .o
3,7
7 .o
.1

16. 6
l, 7
•3
2, 3
4. 3
7 .9
,l

18. 3
l.9
.3
2 .6
4. 7
8 .8
.2

21. 2
2. 3
.4
3.1
5. 2
10. 3
•2

4. 6

5. 7

6 .8

7. 8

8,6

10.0

23.2
2.4
•4
3. 3
5.6
11. 5
•2
.1
11.2

25.7
2. 7
•5
3. 4
5 .9
13.2
•3
.l
12 .9

28.l
3. I
.5
3. 4
6. 2
14.9
.3
.I
14. 6

31. 5
3. 5
•5
3,6
6.4
l 7.4
•3
.1
l 7. 0

34.l
3. 8
.6
3 .6
7.I
18. 9
.4
.l
18.4

l 0, 0
I9. 9

12 ,9
25.I

15 .5
30. I

17. 6
34. l

20. 3
38.6

24. l
45. 3

25. 8
48. 9

26.9
52.5

28. 0
56. 0

29. 7
61.2

33.0 69
67.l 70

l,O

-2.0

•3

l. 5

3.4

2. 2

2. g

2, Q

2 .1

-1.1 71

·"

6.0

43. 7
2. l
3.l
7. 3
•6
30.7

19
20
21
22
23
24

4. 7
-.4
5.l
•2
4. 9

25
26
27
28
29

--------------------------------------------------------------------------------------------------

33 DISPOSABLE PERSONAL INCOME
34 PERSONAL SAVING
SAVING RATE (PERCENTI
35

39
40
41
42

30.6
24. 2
7.2
6.8
5.5
•5

•5

•l

•3
l. 3
8,2
-5. 3
•3
3. 3

.

s. 8

.I

.s

.

l.l
4,6
34. 8

_q

.

. .
.
. .

21, 7 43
44
l, 9 45
19 .7 46

11, 3 47
48
.6 49
.6 50
IO.I 51

60
61
62
63
64
65
66
67
68

FEBRUARY, 1970
INCOME AND PRODUCT SUMMARY

IN:OME AM> PROD UCT SUMMARY
I NCOME AND PRODUCT ACCOUNTS: GNP EXPENDITURES ANO GROSS SAVING
I BILLIONS OF DC!LLA RS I

YEAR TOTALS,

1957-68

YEAR TOTALS, 1957-68
------------------------------------------------------------------------------------------------------1967
1966
1968
1965
1959
1960
1964
1963
1957
1961
1958
1962
--------------------------------------------------------------- ----------------------------------

l TOTAL GNP

441.l

447.3

483.6

503. 8

520.l

560 .3

590. 5

632.4

684. 9

749. 9

793. 5

865. 7

l

2 CURRENT ounAYS
STATE AND LOCAL GOVT.
3
u. s. GOVERNMENT
4
HJUSEHJLDS
5
OF WHICH CONSUMER DURABLES
6

367.6
36.6
49.5
281.4
40. 8

384.2
40.6
53.6
290.l
37.9

408.2
43.3
53. 7
31 l.2
44.3

424.9
46 .l
53.5
325. 7.
45.3

442. 8
50 .2
57 .4
335.2
44.2

472.2
53. 7
63 .4
355. l
49. 5

497 .5
58.2
64.2
375 .o
53.9

529 .9
63. 5
65. 2
401.2
59. 2

569. 8
70. l
66. 9
432. 8
66. 3

623. l
79. 0
77.8
466.3
70. 8

672.3
89�3
90.7
4'l2 .3
n.o

736.9
l00. 7
99. 5
536 .6
83.3

2
3
4
5
6
1

7 GROSS DOMESTIC INVESTMENT
8
9
10
11
12
13
14
15

PVT. FIXED INVESTMENT
RES !DENTIAL CONSTRUCTION
1-4 FAMILY STRUCTURES
toUSEtoLD PURCHASES
FARM
CHANGE IN WORK IN
PROCESS ON NONFARM
CORPORATE
NON CORPORATE

16
17
18

MULTl- FAMILY UNITS
CORPORATE BUS!NESS
NONCORPORATE BUSINESS

19
20
21
22
23
24

NONRES. PLANT ♦ EQUIP.
NONPROFIT INST .I HH I
FARM
NONFARM NONCORP. BUS INE S
FINANCIAL CORPORATIONS
NONFINANC !AL COR!>ORATION

25
26
27
28
29

INVENTORIES
FARM
NON FARM
NONCORPORATE
CORPORATE

30 NET FXPORTS
EXPORTS
31
IMPORTS
32

33 O!SPOSABLE PERSONAL INCOME
34 PERSONAL SAY ING
SAVING RATE (PERCENT)
35
36 FEDERAL GOVT. SURPLUS
3 7 STATE & LOCAL GOVT. SURPLUS
38
39
40
41
lt2

-

67.9

60.9

75.3

74. 8

11.1

83.0

87.l

94.0

108. l

121.4

116.0

126.3

66.5
20. 2
18.5
18.l
•7

62.4
20. 8
18.5
17.3
.6

70 .5
25. 5
22.2
21.4
.6

7 1. 3
22. 8
19. 5
19. 7
.6

69. 7
22.6
18.4
I 7.6
.6

77.0
25.3
19.4
18.7
.6

81.3
27.0
20.0
19.0
.6

BR. 2
27. l
19. 5
19.3
.'5

Q R. 5
27.2
19. 8
19. I
•5

106. 6
25.0
18.3
I 8. 9
.5

l 08.6
25. 0
18.9
16 .9
.6

119.0 8
30. 2 9
22. l 10
21. 2 11
• 5 12

-.3
-.1
-.1

.6
.3
•3

.2
.1
.1

-. 8
-.4
- .4

•3
.1
.1

.1

•5
.2
•2

-.4
- .2
-. 2

•2
.I
.1

-1 .2
-. 6
-. 6

1.4
•7
•7

.4 13
• 2 14
. 2 15

1.1
.9
•8

2.3
1.1
1.1

3.2
1.6
l.6

3. 3
1. 5
l.8

4. 2
l. 8
2. 5

5.9
2.3
3. 7

1.0

7. 7
2. 3
5 .4

7. 4
l• 9
5. 5

6. 8
1. 7
5. l

6.1
1.5
4.5

8. l 16
2 .2 17
5.9 18

46.4
2.4
3.2
6. 7
.6
33.4

41.6
2 .5
3. 7
6.4
.6
28.4

45.1
2.6
3.7
6.9
.8
31.I

48.4
2.8
3 .3
7 .o
•5
34.9

47.0
3.0
3. 5
6.6

51.7
3.2
3. 7
7. l

54.3
3.4
4.3

33.2

37.0

1.0
38.6

61. l
3.7
4.R
7.6
.9
44.I

71. 3
4.l
4.9
8.6
•8
5l. 8

81. 6
4. 5
5. 4
9.1
1.0
61. 6

83. 7
4 .5
5. 6
8. 7
1.0
63. 8

88. 8
4.6
5.6
9. 3
1. 3
68. 0

19
20
21
22
23
24

1. 3
.5
.8
•2
.6

-1. 5

4.8

-2.3
.2
-2. 5

4 .B
.6
4.I

3.6
•2
3.3
.3
3.0

2 .o
.3
1. 7
.2
l .5

6.0
•7
5.3
•6
4. 7

5.9
•B
5.I
•7
4.3

5. �
-.6
6 .4
.6
5.9

9.6
I. 0
8. 6
•7
7. q

14. B
-.2
15. 0
.6
14.4

7.4
.6
6. 8
•3
6. 4

7. 3
-.1
7 .4
.9
6. 5

25
26
27
28
29

5. 7
26. 5
20. 8

2 .2
23. l
20.9

.1
23.5
23.3

4. I
27.2
23.2

5.6
28.6
22.9

5.I
30.3
25.I

5 .CJ
3 2. 3
26.4

8. 5
37.l
28. 6

6. 9
39. 2
32. 3

5. 3
43. 4
38. I

5 .2
4�. 2
4I . O

2. 5 30
50. 6 31
48. I 32

308. 5
20.7
6. 7

31 8. 8
22. 3
7. 0

337.3
19.I
5.7

350. 0
17. 0
4.CJ

364 .4
21. 2
5. 8

395.3
21.6
5.6

404.6
19.9
4.9

439.1
26. 2
6 .o

473.2
2A. 4
6. 0

511.9
32 .5
6. 4

546. 7
40. 5
7 .4

590. 0 B
38. 4 H
6 .5 35

2.I
-1.4

-10.2
-2. l

-1. 2
-.8

3. 5
•2

-3.8
-. 5

-3.'l
.9

•7
1. 2

-3. 0
1. 7

1. 2
1. 0

- •2
I. 3

-12. 4
-2 .o

-5. 2 36
-1. 5 37

41 .4
.1
I. 7
5. 9
33. 7

52. l

49. 7
.I
1.9
7.7
40. I

50. 'I
.1
2. 3
7.7
40.2

55 .4
.1
2.6
8.1
44.6

59 .4
2.5
7. 8
49.t

66. B
.I
3.I
7. 9
55. 7

77. 8
•2
3. 3
8. 7
65. 7

84. 2
•2
3. 3
9. 7
71. l

'l0.3
.I
3.6
LO. 5
66. 2

91. l
.I
4.0
Il. 5
75.6

38
39
ltO
41
42

.a

.1

-�

2.4
4.6

1.0

---------------------------------------------------------------------------------------------------

.
.

CORPORATE PROFITS, TAX ES, ANO DlVIDEMJS:
TOTAL
47.2
PROFITS
F4RMS
1. 9
FOREIGN
F·INANCIAL CORPS.
5.5
39.8
NONF !NAN. CORPS.

l .8
7. l
43.2

.

19. 0
.l
2. 8
16.2

23.7

2.3
18. 9

2 .9
20.7

23.0
.1
3. 5
19. 5

23.I
.I
3. 3
19.7

24. 2
.I
3 .3
20.8

26. 3
.I
3.4
22. �

2�.3
.I
4. 0
24.2

31. 3
.I
3. 7
27. 5

34. 'I
.I
4. 2
30. C

33. 0
.1
4. B
7-8.I

4I .3
.1
5. 7
35 .6

43
44
45
46

ll.7

ll.6

12. 6

13.4

13.8

.1
•7
10.2

.8
.9
10.9

.8
1.0
11.6

1.1
1.1
ll .6

15. 2
.1
l .2
I.2

16. 5
.1
1.0
1.1
14. 2

17 .8

.6
.7
10.4

I. 3
I.5
14. Q

19. 8
.I
I. 5
1. 4
16. 8

20. P
.1
l. 4
I. 2
18. I

21. 5
.I
1 .5
.9
19.0

23. I
.1
1.6
1.1
20. 3

"7
48
49
50
51

14.2

10.8

15.9

13. 2

13.5

16.0

?6. 7

29.1

1.0
2.5
7.3
-. 3
1.0
8.1

1.0
3.3
11.6
-. 5
1.0
12.l

1.0
3. 2
9.0
.2
1.0
I 0.2

l .3
3. 3
8. 9
-. I
1.3
10.1

l.3
3 .7
11.0
.3
l. 3
12 .6

16 .6
-. 2
I. 5
3. 2
12 .o
-.5
1. 5
13. l

20.6

l.3
2. 5
I 0.6
- 1.5
1.3
10.3

I.A
2.4
16 .5
-.5
I. A
I 7. 8

I. 8
3. 6
21. 3
- I. 7
I. R
2I. 4

l• •
4. 4
22. 'l
- I.8
l.'l
23.0

25 .9
-.1
2. l
4 .8
19.I
-1. I
2. 1
20.0

26 .7
-. I
2. 4
4. 7
19.7
-3.2
2. 4
18. 8

52
53
54
55
56
57
58
59

37.I
60 T OT AL CAPITAL CONSUHPT ION
4. 2
OWNER-OCCUPIED HOM ES ( HHI
61
.6
NONPROFIT INST.I HHl
62
3. 8
FARM NONCORPOR ATE
63
7. 6
NONFARM NONCORPORATE BUS.
64
20.8
TOTAL CORPORATE
65
.4
FINANCIAL BUSINESS
66
.1
CORPORATE FARMS
67
20.3
NONFINANCIAL CORPORATIONS
68
MEMO: CAP. CONS. ON CONSUMER DURABLES
35. 9
69
NOT INCLUDED ABOVE
73.0
TOT CAP.CONS. INCL DURABLES
70

38. 9
4.6
•7
3. 9
7. 7
22.0
.5
21.4

41.4
4.9
•8
4.1
8.1
23. 5
•5
.1
22. 9

43 .4
5.3
•8
4.I
8 .3
24.9
.6
.1
24 .2

45. 2
5 .6
.9
4.1
8.4
26 .2
•7
.I
25.4

50. 0
6.0
I .O
4.2
8. B
30.I
•7
•2
29.2

52 .6
6.4
1.0
4.3
9.2
31. 7
.8
.2
30.8

56.l
6. 8
1.1
4 .5
9. A
33.9
.9
.2
32. 8

59.8
7. l
1. 2
4.8
10 .2
36. 4
I. 0
•2
35. 2

63. 0
7. 4
I. 3
5. I
LO. �
39.5
1.1
•2
38. 2

68. 6
7. 8
1 .4
5. 5
11. 3
42. 6
1.2
•3
41. 2

73.3
B.2
I. 5
5.9
11.e
45. 9
1. 3
•3
44. 3

60
61
62
63
64
65
66
67
68

37.3
76.3

38 .8
80.2

40. 2
83.6

41. 3
86 .6

42. 9
92. 8

45. 0
97.6

48 .o
104.l

5 1. 5
111. 3

55. 6
I 19. 5

60.6
12Q.2

66 .5 69
139. 7 70

1.6

- .e

-1.0

-.7

.5

-.3

- 1. 3

-3. I

-1. 0

-1.3

-2. 5 71

43
44
45
46

TAX ACCRUALS - TOTAL
FARMS
FINANC !AL CORPS.
NONFIN ANC !AL

lt7
48
49
50
51

DIV IOENDS - TOTAL
FARP'S
N ET FOREIGN
FINANCIAL CORPS.
NONFINANCIAL CORPORATIONS

52
53
54
55
56
57
58
59

UNOIST. PROF ITS - TOTAL
FARMS
FOREIGN BRANCH PROFITS
FINANCIAL CORPORATIONS
NONFtNANC !AL CORPORATI ONS
+ I NV ENTORY VAL. ADJ.
+ BRANCH PROF I TS
= NONFIN. CORPS. ,NET

71 STATISTICAL O ISCREPAN:Y


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

21.2

.

.1

.
.

12.1

.

FEBRUARY, 1970
CREDIT l'IARKET SIJ4MARY

C RE OI T MARKET SIJ41'1ARY
TOTAL FUl'llS RAI SEO IN CREDIT l'IARKETS BY NONF INANCIAL SECTORS
IBILLIONS OF DOLLARS I
YE AR
--------------------------------------------1950
1951
1952
1949
1954
1953
-------------·---------------------------------------------BY TYPE ANO SECTOR
-----------------------------------------------------1. FUNDS RAISED,

YE AR TOTALS, 1946-56
--------------------------------------

1945

TOTAL FUNDS RA I SEO
BY NONFINANCIAL SECTORS

1946

1947

1948

TOTALS, 1946-56
1955

1956

-4.2

16 .9

14.1

17. 2

25.5

24 .1

31.7

29. 8

27. 3

38.2

29.8

-23.4
-23.2
-. 2

-7.2
-7.2

-5.7
-6.6

2.6
2.5
.1

-1.2
-.6
-.6

-.4
- .3
-.1

4.8
4. 5
•3

7.0
5.4
1. 6

2.4
2. 3
.1

-.8
-.l
-. 7

-5.8
-5. 5
-.3

4

5 All OTHER NONFIN. SECTORS
C.6P IT Al MARKET INSTRUl'IENTS
6
CORPORATE EQUITY SHARES
7
DEBT CAP ITAL IN STRUM ENTS
8
ST .+LOCAL GOVT. SEC.
9
CORPORATE + FGN. BONDS
10
MORTGAGES
11
HOME l'ITGS.
12
OTHER RES IOENTIAL
13
CO"lMERCIAL
14
FAR�
15

19. 2
8.1
1.1
7.1
.1
.9
6.1
4. 3
•3
1.3
.1

24.1
12.4
l .2
11.3
1.4
2. 8
7 .1
5 .1
•5
1. 3
.2

19.8
14.9
1.1
13 .e
2.2
4.4

5 .o
.9
1.1
•2

14.6
13.2
1.3
11.9
2.6
2 .9
6.4
4. 3
1.2
•7
•3

26. 7
16.7
1.4
15. 3
3.3
1.9
10. l
7.5
l.5
.6
.5

24.5
17.1
2.0
15. 2
2.2
3 .6
9.4
6. 5
1. 3
1.0
.6

26. 8
18.8
2.4
16.4
2. 7
4. 7
9 .o
6. 7
•8
.9
.6

22. 7
19.3
1. 8
17. 5
4.4
3. 2
9.9
7 .5
.6
1. 2
•5

24.8
23.4
1. 8
21.6
6.0
3.4
12.1
9. 3
.5
1.1
•5

39.0
26.0
2.1
23. 9
5.2
2.6
16.1
12.4
.B
2 .o
.8

35. 6
24.7
2.4
22. 3
3. 8
3.9
14.6
10. 8
•6
2. 4
.8

5
6
7
8
9
10
11
12
13
14
15

16
17
lR
19
20

OTHER PR !VAT E CREO IT
BANK LOANS N.E.C.
CONSUMER CR ED IT
OPEN-MARK ET PAP ER
OTHER

11.1
5.1
2. 7
.1
3. 2

11.1
4 .o
3 .2
•1
4.4

4.9
•3
2 .8

1.4
-2.3
2. 9
.B

7. 3
4 .5
1. 2
•2
1.4

8.0
2. 7
4.8
.1
.4

3. 4
-.9
3.9
.1
.4

1.4

1.8

10.0
4.7
4.1
.2
l.O

1.1
•4
-.4

12.9
5. 7
6.4
-.4
l. 3

10. 9
6 .3
3 .5
•3
.1

16
17
18
19
20

21
22
23
24
25
26
27
28

BY BORROWING SECTOR-FOREIGN
STATE+LOCAL GOVT S.
HOUSEHJL OS
NONFIN ANCJAL BUSINESS
CORPORATE
NONFARM NONCORPORATE
FARM

19.2
3.4

19 .8
1.3
2. 2
8. 5
7 .7
6.5
.5
•7

14. 6
•3
2. 5
7. 7
4.2
3 .1
•7
.4

26. 7
•2
3 .4
12.9
10.2
7.4
1. 7
1.1

24. 5
.6
2.4
e .6
12.8
10.4
1.0
1.3

26 .8
.5
3. l
12.1
11.1
9.4
.9
.e

22. 7

6.9
8. 8
7.1
1.4
.4

24.1
4.4
1.4
8 .o
10.3
8.4
l.4
.5

4.1
12. 5
6.2
5.8
.4
-.1

24. e
.4
5. 7
11.1
7. 7
6.0
.9
•e

39. 0
.4
5.2
19. 7
13.7
10. 6
1. 7
1.4

35. 6
1.0
3. 9
16. l
14.6
12. 9
.9
.9

21
22
23
24
25
26
27
28

-4. 2

16.9

14. l

17 .2

25 .5

24.1

31. 7

29. 8

27. 3

38.2

29. 8

l

2. 8
-.2
.1
•3

4 .3
.l
.2
.1

1.4
.l
•4
.3

1. 3
.1

.1

.1
•5
.4

1.5
.1
.1

•6
.1
.1

-. 3
.4
.3

•8
1.0
1.0

•7
•3
1. 0
•7

2
3

-.1

l. 3
•2
.4
.2

-. 8
-10.0

-.9
2.1

.9
-2.4

-4.6
5 .8

1. 8
6.3

3. 0
5.8

.9
10. 3

.l. 2
4. 2

-.9
10.0

-. l
5.2

•2
4. 8

6

7. 2
2. 8
4.9
-.4
-1.1

1.2

8 .o
2 .2
5. 7
•l
1.7
l .6

8. 3
2.6
5 .8

9.2
2.9
6.3

l. 7
1.8

9.8
2. 8
7 .o
-.l
1.9
2.0

.4

13.2
5.0
8.3
-.1
2.1
2. 2

15. 5
5 .8
9.4
•3
2.6
2.3

16. l
6. 4
9.6
.1
2. 0
1.9

16.9
7. 5
9.4
-.l
5. 0
5. l

17 .3
7.6
9. 5
.2
l.3
l. 2

8
Q
IC
11
12
13

2
3
4

u. s. GOVERNMENT

PUBLIC DEBT SECUR !Tl E S
BUDGET AGENCY ISSUES

.

6 FEDE RAL RESERVE SYSTEM
7 COMMERCIAL BANKS, NET
9
10
11
12
13

.e

1.2

. .

•3

---------------------------------------------------------------------------------------------11. FUNDS ADVANCED 01 RECTLY IN CREDIT MARKETS
------------------------------------------------------------------

l TOTAL FUNDS RAISED
ADVANCED OIRECTL Y BY-2 u. s. GO VERNMENT
3 U .S .G. CREDIT AGENCIES,NET
4
FUNDS ADVANCED
5
LESS-FUNDS RAISE 0 IN CR.MKT.

�

.

1

PVT. NONBANK FINA\ICE
SAVINGS INS l lTUTIONS ,NET
INSURANCE
FINANCE N.E.C ., NET
FUNDS ADVANCED
l ESS - FUNOS RAISED IN MKTS.

-.1

.

2.3
4.9
.1

.

.

.

•5

.

14 FOREIGN

-1 .o

-.8

•3

.4

1 .3

.1

1.1

.6

•5

1.0

15 PVT. D OMESTIC NONFINANCIAL
16
BUSINESS
17
STATE + LOCAL GOVT., GEN.
HOUSEHOLDS
18
19
LESS-NET SECURITY CR EO IT

-2.2
-4.9
-. 7
.6
-2. 7

4.8
-.1
.7
4.0
-.3

5.9
l. 8
.6
3. 2
-.3

5 .9
2 .8
.5
2.9
•2

5.6
4 .3
.9
.9
.4

4.5
1.9
•7
1. 8
-. l

4.6
.6
1. 2
3 .2
.4

7 .6
2. 4
1.4
4. 3
.5

1. 5
-1. 8
1.6
2. 5
•8

14.6
5.4
.8
9.2
•A

2 0 MEMO: U.S.GOVT. CASH BALANCE
-22.1
-2. l
TOT Al S NET OF CHANGES IN U.S. GOVT. CASH BALANCES- 17.9
19.0
21 TOTAL FUNDS RAI SEO
-1.3
BY u.s. GOVERNMENT
-5. l
22
NET FUN OS ADVANCED BY--.2
-.4
FEDERAL RESERVE SYSTEM
23
11.5
3.8
24
COMl'IERCIAL BANKS

7

1. 3 14

.

5. 2
-3.4
•7
7. 8

15
16
17

18
19

l. 2

.5

-.4

•2

1. 8

- 1.4

•3

-. 7

.1 20

12 .8

-1.0

16.7
2. l

26.0
-.8

23.9
-.6

29.9
3.0

3 l. l
8.4

21.0

38. 8
-.1

29. 7 21
-5. 9 22

.7
-3.4

-4. 3
5.1

2 .o
6.5

3. 5
5.2

.8
8. 7

1. 8
5.0

-1. l
9.9

-.1

.1 23

2.1

4. 8 24
----------------------------------------------------------------·5.6
------------111. SOURCES Of FUNDS SUPPLIED TO CREDIT MARKETS
------------------------------------------------------------------------------------------------

TOTAL BORROWING BY
NON FINANCIAL SEC TORS
FIN AN CEO DIRECTLY ANO I NOi REC TLY BY-2
3
4
5
6
1
8
9
10
11

-4.2

16.9

14. l

17.2

25.5

24.1

31. 7

29. 8

27.3

38 .2

29. 8

TOTAL
DEPOSITS
DEMAND OEP. + CURRENCY
TIME ANO SVGS. ACCOUNTS
AT COMl'IERC IAL BA NKS
AT SAVINGS INSTIT.

11.2
13.,.
6.9
6.5
3.8
2.1

11.6
6.7
3.1
3.6
1.4
2.2

6.3
.4
-2.l
2.5
.6
2.0

8.4
2. 5
-.3
2.e
•3
2.5

12.9
7.3
4.7
2.6
•1
2.4

16.0
11.5
6.9
4.6
l .5
3.l

17.0
12.3
4.5
7. 8
2.0
5. 0

17.5
9.9
1. 2
8.6
2.9
5. 8

15. 0
13. 6
3. 7
9.8
3. 2
6.6

25.7
11.1
2.5
8 .6
1. 5
7.1

15 .9

2

1. 2
9.5
2 .2
7. 3

4
5

MKT. INSTR., NET
GOVT. SECURITIES
CREDIT MKT. INSTR.
SECURITY DEBT

-2.2
-7.3
2.4
-2.7

4.8
1.3
3.2
-.3

5.9
1 .3
,._ 3
-.3

5.9
3.1
3.0
.2

5.6
3.1
2.9
.4

4.5
.5
4.0
-.1

,..6
5.0
.4

7.6
3.0
5.l
.5

1.5
-2. 5
4.7
.8

14.6
7.3
e.l
.8

5.2 8
-2.7 9
7. 8 10
11

-1.2
-.2
-1.0

-.9
-.1
-.8

.6
.3
.3

.3
-.1
.4

1.8
.6
1.3

-.1
-.2
•1

1.4
•3
1 •1

.2
.6

1.1
.6
.5

.8
-.2
1.0

1. 5 12
.2 13
1. 3 14

-22.1
2.8
3.8
1. 3

-2.1
4.3
3.9
•1

1.2
l. 4
4.2
.4

.5
1.3
4.4
2.3

-.4

.2
1. 3
5.3
1.4

1.8
1. 5
6.7
3.3

-1.,.
.6
7.3
5.0

.3
-.3
1. 7
3.,.

-.1

.1 15
.1 16
8.5 17
3. 2 18

PRIVATE DOMESTIC NONFINANCJAL SEC TORS:

CREDIT
u.s.
PVT.
LESS

OTHER SOURCES:
FOREIGN FUNDS
12
AT BANKS
13
DIRECT
1"
15
16
11
18

CHG. IN U.S. GOVT. CASH BAL.
u.s. GOVT. LOANS
PVT. INSUII.. ANO P ENSION RES.
SOURCES N.E.C.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.1

5.8

4.1

.

.a

.8
7.9
3.7

10.1

l

3

.

FEBRUARY, 1970
CREDIT MARKET SUMMARY

CREDIT MARKET SUMMARY
TOTAL FUNDS RAI SEO IN CREDIT MARKETS BY NONFI NANCUL SECTORS
(BILLIONS OF DOLLARS I

YEAR TOTALS, 1957-68

-----------------------------------------------------------196lt
1957
1963
1958
1959
1960
1962
1961
-------------------------1. FUNDS RAISED, BY TYPE AND SECTOR
-----------------------------------------------------

TOTAL FUNDS RAI SEO
BY NONFINANCIAL SECTORS
2 u.
3

4

s.

GOVERNMENT
PUBLIC DEBT SECURITIES
BUDGET AGENCY ISSUES

5 All OTHER NONFIN. SEC TOPS
CAPITAL MARK ET INSTRUMENTS
6
CORPORATE EQUITY SHARES
7
OEBT CAP ITAL .INSTRUMENTS
8
9
ST. +LOCAL GOVT. SEC.
CORPORATE ♦ FGN, BONDS
10
MORTGAGES
11
HOME MTGS.
12
OTHER RESIDENTIAL
13
COMMERC I Al
14
FARM
15

-------------1968

YEAR TOTALS, 1957-61
1965

1966

1967

--------------

30.6

41.lt

51. 3

36.9

46.9

54.l

57.7

66.9

70. It

68.5

82.6

97. It

1

-2.2
-2. 7
.4

9. 3
9.0
.4

7. l
7.4
-.3

-2.l
-2 .2
.1

1.2

6. 7
.6

1.0

6.2
.8

4.0
4.1
-. l

6.4
5.4
1.0

1. 7
1. 3

3. 5
2. 3
1.2

13.0
8.9
4. 1

13.lt
10. 3
3,0

2
3
4

32. 9
25.6
2,5
23.2
4.4
6.8
12.0
8.6
•5
2.4
.6

32.1
zq. o
2.4
26 .6
5. 5
6.6
14. 5
9. 3
1. 5
2.9
•7

44. 2
30. 5
2.4
28. l
6.1
3,4
18.6
12 .7
1.8
3.1
1.0

39 .o
26 .7
l. 7
25. 0
5 .2
4.0
15. 7
10.1
1.7
3.2
•7

39.6
31,'l
2.8
29. l
5. 2
5. l
18 .8
11.1
2. 6
4.0
1.1

47,l
33. l
.6
32.6
5.3
5. 5
21.7
12 .8
2. 8
4.8
l.3

53. 7
35. 7
-.2
35.9
5.9
4.9
25.1
15 .1
3. 2
5. l
1,6

60,5
37.9
1.6
36. 3
5.7
4,5
26.1
15. 6
4.5
3. 8
2.1

68. 7
3'l .1
.3
38. 8
7. 3
5.9
25. 6
15.4
3. 6
4.4
2. 2

64. 9
39.9
.9
3'l.O
5. 7

84. 1
50. 5
-. 7
51. 2
9. 9
14,0
27.3
15 .2
3 .5
6.6
2. 1

5
6
7

22,3
11.4
3, 1
5. 7
2. l

69.6
48. 0
2,4
45 .7
7. 7
1-S.9
22.0
ll,6
3,6
4. 7
2, l

2'l. 5
14.2
10. 0
-. 3
5.7

25. 0
10. 3
7.2
1. 0
6. 4

21.6
9.6
4,6
2 .1
5,2

11.1 18

64.9
1,5
6.4
23. 2
33.B
24. 'l
5. 5
3.5

69.6
4,1
7.9
l'l. 7
37 .9
29. 3
5. 0
3. 5

84. l
3.0
10.2
31.8
39. 1
31.0
5.2
2,9

21
22
23
24
25
26

l

·"

u.o

8
9

10

11

12
13
14

15

18
19
20

OTHER PRIVATE CREDIT
BANK LOANS N. E.C.
CONSUMER CREDIT
OPEN-MARKET PAPER
OTHER

7.2
2.2
2.6
.4
2. l

3.1
1. 5
•2
.1
1.4

13.7
5. 8
6.4
-.4
1,9

12. 3
3.0
4.6
1. 3
3. 3

7. 7
2.'l
1,8
1.0
2.0

14.0
5.2
5 .8
•l
2,8

18.0
6.0
7.9
4.1

.

22 .6
8.3
8. 5
.7
5.l

21
22
23
24
25
26
27
28

BY BORROW ING SECTOR-FOREIGN
STATE +LOCAL GOVT s.
HOUSEHOLDS
NONFINANCIAL BUS INESS
CORPORATE
NONf ARM NON CORPORATE
FARM

32.9
1.4
4.6
12.'l
14.1
12.l
.'l
1.1

32.l
2.3
5. 7
11. 0
13.1
10.1
1.6
1.4

44. 2
6. 3
21. 5
15. 7
11.5
2 .3
1.9

39. 0
1.9
5.4
17 .7
14.0
11.3
1.7
1.0

39.6
2.5
5.5
15. 3
16. 3
12.4
2. 3
1,6

47.l
2.1
5.8
20. 8
18.4
12. 7
3.4
2.3

53.7
3.4
6.1
24. 8
l'l.4
12.4
4.5
2.6

60.5
4.9
6.0
27.'l
21. 7
13. 7
5.4
2,6

68. 7
2,6
7.6
28.8
2'l,6
20. 5
5.8
3. 3

30.6

41.4

51. 3

36 .9

46.9

54. l

57.7

66.9

70.4

68. 5

82.6

97.4

.6
.2
1.3
l.1

l. 5
.3
•3
.1

1. 8
-.1
2 .2
2. 3

1.0
.5
l. 2
.6

l .6

·"

1. 5
,l
1.6
1,4

2. 8
.4
•7
.4

2. 8

1.0
•7

2.0
.1
1.6
1.5

2. 2
2. 3

4.'l
.3
5. l
4. 8

4.6
.5
-.1
-.6

5. 2
-. 2
3 .2
3. 5

-. 7
5. 0

2.1
15. l

•3
,. •7

•7
8 .9

l.5
15. 7

2 .o
19.5

2.9
19,l

3.4
21.8

3. 8
28. 3

3. 5
16. 7

4 .8
36. 8

3. 7
H.0

6
7

17 .3
7.2
10.3
-.2
2.3
2.5

19. l
8. 7
10.6
-. 2
1.1
1. 3

21. 4
9.6
12 .3
-. 5
4.0
4 .5

22.0
9.8
12.4
-.l
4. 8
4.'l

23.6
10.'l
13. l
-.5
3.3
3.8

26.6
12,'l
14.4
-.7
4.6
5.3

29.9
15.5
14. 3
.1
5. 8
5.8

31.0
16.0
15.6
-.5
5.5
6.l

30. 1
13. 7
17.9
-1.4
6.'l
8. 3

25.'l
7. 8
19. 3
-1. 3
5.8
7.1

36,l
16.9
20.4
-1. 2
4.3
5.5

33. 5
14.5
21. 5
-2. 5
'l. 8
12. 3

8
9
10

3. 2

1 .3

.8

1.5

.9

.6

- •3

-1. 8

2. B

3.4
•8
.4
3.0
.9

20.0
8. l
1. 3
10. 9
•2

2.4
-3. 7
1.2
4.5
-. 3

3 .4
•8
.8
3 .o
1,3

2,4
1,8
l.2
-.8
-.2

3 .4
2.9
1.1
1.3
2.0

1.0

2.0
.'l
4.0
-. 2

5. 6
1.0
2. 5
2. 5
•3

19. l
3. 6
3.4
ll.9
-.2

-3 .o
-.6
1.2
-1.4
2. 2

1,3

-.4

.2

- 1.0

-.4

l,2

-1. 2 20

36. l
-2.'l

46. 8
7 .2

52 .8
5.7

58 .o
4.3

66. 7
6.3

71. 4
2. 7

68. 9
3. q

81.5
11.'l

'l8 .6 21
14,6 22

•8

l.5

1 .9

2.6

3. 2

3. 8

3. 3

3 .9

4. 8 23

16
17

.8

33.6 16
13.4 17
1.6 19
7.5 20

27

28

--------------------------------------------------------------------------------------------------II• FUNDS ADV ANC EO DIRECTLY IN CREDIT "ARKETS
--------------------------------------------------------------------------------------------------

1 TOTAL FUNDS RAISED
ADVANCED DIRECTL Y 8Y-2 u .s. GOVERNMENT
3 u.s.G. CR EDIT AGENC IES,NET
FUNDS ADVANCED /
4
LESS-FUNDS RAISE□ IN CR .HKT.
5
6 FEDERAL RESERVE SYSTEM
7 COMMERCIAL BANKS, NET
8 PVT. NONBANK FINANCE
SAVINGS INSTITUTIONS, NET
q
INSURANCE
f !NANCE N.E .C ., NET
FUNDS ADVANCE□
L ESS-FUNDS RA I SEO IN MKTS.

10
11
12
13

.6

14 FOREIGN
15 PVT. DOH EST IC NONF INANC I AL
BUSINESS
,16
STATE ♦ LOCAL GOVT., GEN.
17
HOUSEHOLDS
18
LESS-NET SECUR !TY CREDIT
19

7.6
•3
•6
6.3
-.4

•2
.2
.6
20 MEMO: U.S.GOVT, CASH BALANCE
TOTALS NET Of CHANGES IN u. s. GOVT. CASH BALANCES-50 .7
30. 5
41 .2
21 TOTAL FUNDS RA !SEO
6.5
-2.4
'l.l
BY U. S. GOVERNMENT
22
NET FUNDS ADVANCED BY-2.3
-. 7
•5
fEOERAL RESERVE SYSTEM
23
4.'l
14.8
3.9
COMM ERCI Al BANKS
24

.8

.

11

12
13

2. 5 14
13. 8
9.0
.7
5. 5
1.4

15
16
17
18
19

3'l. 3 24
36.5
l 7.2
19. 7
29, 3
21.8
8.0
15. 7
18.3
-------------------------------------------------------------------------------------------------111. SOURCES OF FUNDS SUPPLIED TO CREDIT MARKETS
-------------------------------------------------------------------------------------------------

TOTAL BORROW ING BY
30.6
NONf I NANCIAL SEC TORS
FINANCED DIRECTLY ANO INDIRECTLY BY-2
3

4
5
6

7

HK T. INSTR., NET
GOVT. SECURI Tl E S
CREDIT HKT. INSTR.
SEC� ITV DEBT

9
10
11
12
13
14

OTHER SOURCES:
fOREI GN FUNDS
AT BANKS
DIRECT

15
16
17
18

51. 3

36.9

46 .'l

54.l

57. 7

66,9

70. 4

68.5

82. 6

97.4

23. 'l
20.6
4.9
15. 7
8. 7

31 .2
11.1
.6
10.5
2.1
8.5

16.1
13. 8
-1. 3
15. 1
5.4
9,6

27.1
23,8
3. 6
20 .2
9.0
ll.2

32 .6
30.3
2.2
28. l
15 .o
13.0

37. 7
34 .4
5.9
28. 5
13.4
15.1

42. 2
35. 2
6.4
28.B
13.0
15. 7

46.3
40. 7
8. 0
32. 7
19. 5
13.l

42.8
23. 7
4.0
19. 7
12.5
1.2

47. 7
50 .6
11.6
3'l.1
22. 3
16. 7

58. l
44. 3
ll.2
33. l
20. 5
12.6

7.6
-.1
7.3
-.4

3.4
-2.7
6 .-9
.q

20. 0
12. 7
7.5
•2

2 .4
-5. 3
7.4
- .3

3.4
-.7
5.3
1. 3

2.4
l.3
.9
-.2

3.4
4.4
1.0
2.0

7.0
.6
6. 3
-.2

5.6
2.5
3. 5
.3

19. l
B. 5
10.4
-.2

-3.0
-2.8
2.0
2.2

13. 8 8
8. 9 9
6. 3 10
1.4 ll

-.1

.5

•8
.'l

2 .5
-. 7
3.2

2. 2
.9
l.3

2. 0
1.1
•8

2.0
.5
l ,5

2.0
1.2
.9

2.6
2. 0
.6

•8
1.1
-.3

•7
2. 5
-1.8

5. 0
2. 2
2.8

4.0 12
1. 5 13
2. 5 14

•2
.6
8.9
1. 8

•2
l. 5
9.0
6.0

,6
1.8
10.4
4 .8

.e
1 .o
10.6
6.1

1.6
ll.2
4.9

.2

11.1

-1.0
2.8
15. 7
5. 8

-. 4
4. 9
16.7
3. 8

1.2
4.6
18.7
5,6

PRIVATE OOH EST IC NONF INAIC IAL SEC TORS:
18.6
TOTAL
ll. 0
OEPOS ITS
-1.4
DEHAN□ DEP . ♦ CURREt,CY
12. 5
TIME ANO SVGS, ACCOUNTS
5.6
AT COHHERC I Al BANKS
6.9
AT SAVINGS INST IT.
CREDIT
u.s.
PVT.
l ESS

8

41.4

CHG. IN u.s. GOVT. CASH BAL.
u.s . GOVT, LOANS
PVT. INSUR. AND PENS ION RES,
SOURCES N,E,C.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.6

1.0

•

1.3
2.0

4.5

-.4
1. 5

12.6

4.2

2.e
13,9
5.3

-1 .2
5. 2
18•.2
l3 .2

l

15
16
17
18

FEBRUARY, 1970
NET I NVESTMENT + BORROWIIIIG

NET INVESTMEIIIT t BORROWING

PRIVATE DOMESTIC IIIET IIIIVESTME NT ANO BORROWING IN CREDIT MARKETS
I BILLIONS OF DOLL ARS I
YEAR
---------------------------------------------------------------------------------------1949
1948
1950
1951
1947
1946
1945
1952
1954
1953
--------------------------------------------------------------------------

YEAR TOT Al S, 1946-56

TOTAL, HOUSEHOLDS AIIIO BUSINESS
TOTAL CAPITAL OUTLAYS 111
CAPITAL CONSUMPTION I 21
NET PHYSICAL INVESTMEIIIT
4
5

NET BORROWING
NET EQUl TY INVESTMENT I 31

TOTAL BUSINESS
TOTAL CAPITAL OUTLAYS
6
CAPITAL CONSUM PT ION
7
NET PH.VS( CAL INVESTMENT
8

TOTALS, 1946-56
1955

1956

46. 5
19.8
26. 7

54.2
25.0
29.2

68.4
30.0
38 .4

60.0
34.0
26.0

84.3
38.5
45. 8

88. 7
45.l
43.5

80. 8
48.7
32.l

85.5
52. 3
33.3

84. l
55. 7
2.8. 3

106.4
60.9
45.6

108.4
66 .7
41. 7

l
2
3

15. 8
10. 9

18.3
10.9

16.2
22. 2

11.8
14.2

23. l
22. 7

21.4
22.l

23. 3
8 .8

18. 7
14. 6

18. 7
9.6

33.4
12. l

30. 7
10.9

4

24. 7
8. 3
16.4

24.8
10.5
14. 3

32.6
12.6
20 .o

23.4
14.4
9.0

36.7
15.9
20. 8

41. 7
18.4
23. 3

34.8
20.1
14. 7

34.6
22.2
12.4

32.6
24.2
8.4

43.8
27. l
16. 7

47.2
29.3
17.9

6
7
8

5

9
10

NET BORROWING
IIIET EQUITY INVESTMEIIIT

8 .8
7.6

10.3
4.1

7. 7
12. 3

4.2
lt.9

10.2
10.6

12.e
10.6

11.1
3.6

6. 2
6. 2

7. 7
.7

13.7
3.0

14.6 9
3.3 10

11
12
13

CORPORATE BUSINESS
TOTAL CAP ITAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYSICAL INVESTMENT

17.9
4.6
13.4

11.2
5 .7
11.5

20. 3
6.8
13 .4

15. 3
7. �
7 .5

24.l
8.6
15.5

29.9
10.0
19.9

24.4
11.2
13.2

24.6
12.9
11.8

21.6
14.6
7.0

31.5
17.0
14.5

35. 9 11
18.4 12
17.5 13

14
15

NET BORROWING
NET EQUlTY INVESTMENT

7.1
6. 3

8.4
3.1

6.5
6.9

3.l
4.4

7.4
8.l

10.4
9.5

9.4
3.8

5. 8
6.0

6.0
1.1

10.6
3.9

12. 9 14
4.6 15

16
17
18

HOUSE HOLDS
TOTAL c·AP ITAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYSICAL lNVESTMEIIIT

21.e
11. 5
10.2

29.4
14.6
lit. 8

35. 8
17.4
18 ·"

36.6
19.6
17.0

47.5
22.5
25.0

46.9
26.8
20.2

46.0
28.6
17.lt

50.9
30.0
20.9

51. 5
31.5
19. 9

62 .6
33.8
28.9

61. 2 16
37.4 17
23. 8 18

6.9
3. 3

e.o
6.8

8. 5
9.9

1. 7
9.3

12 .9
12. I

8.6
11.5

12. l
5 .2

12.5
8.4

11.1
8.9

19. 7
9.1

16 . l 19
7.7 20

.4
3. l
.1
.3

2.6
4.3
.2
.2

5.5
4. 3
.4
.2

4.9
4. l
.5

6.3
6.1
.6
.9

6.4
4.3
.6

6.4
- 1. 2

5. 8
2. 5
.5
•5

5. l
3. 8
.7
•7

5.5
3.5

19
20
21
22
23
24

NET BORROW ING
N E T EQUITY INVESTMENT
OF WHICH:
HOUSES LESS HOME MTGS.
DURABLES LESS CONS. CREDIT
NON PROFIT P&E LESS MTGS.
LESS--UNALLOCATE O DEBT

Ill CAPITAL OUTLAYS ARE TOTA LS F OR RE SIOE NTI AL A N O NONRESIDENTIAL
FIXED CAPITAL, "!ET CHANGE IN INVE NTORIE S, ANO CONSUMER DURABLES ,
EXCE PT OUTLAYS BY FINANCIAL BUSINESS.
I2ICAPITAl CON SUMP T 10 N I NC LUDES AMOU"ITS FOR CONSUMER DURABLES
ANO EXCLUDES FINANCIAL BUSINESS CA PITAL CONSUMPTI ON.
131 EXCESS OF NET INVESTMENT OVE R NET BORROWING.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.2

-. 3

.s

.4

.1

.5

5. 2
2.4
.8
•7

21
22
23
24

FEBRUARY, 1970
NET INVESTMENT + BORROWING

NET INVESTMENT

♦

BORROWING

PRIVATE DOMESTIC NET INVESTMENT AND BORROWING IN CREDIT MARKETS
18 Jlll ONS Of DOLURSI
YEA R TOTALS, 1957-68
--·-------------------------------------------·---·-----------------------------------------------------------------------------1967
1966
1968
1965
1964
1958
1959
1957
1963
1960
1961
1962
---------------------------------·--- ----------- - -- - -------------------------

YEAR TOT AL S, 1957-68

l
2
3

TOTAL, HOUSEtllLOS ANO BUSINESS
TOTAL CAP ITAL OUTLAYS 111
CAPITAL CONSUMPTION I 21
NET PHYS! CAL INVESTMEN T

5

NET BORROWING
NET EQUITY INVESTMENT I 31

1
2
3

108.0
72.5
35.5

98.2
75. 8
22.,,

118.9
79.6
39.2

119. 6
8 3.0
36.6

115.2
85.9
29. 3

131.9
92.l
39. 8

11,0.1
96.8
43.3

152.4
103.2
49.2

173. 6
110. 3
6 3. 3

191.2
118. 5
72.7

188 .o
128.0
60.0

208 . 3
138 .5
69. 8

21.0
8.5

24. l
-1. 7

37.1
2.1

31. 7
...9

31 .6
-2.',

39.2
•7

,,,,.2
-.9

49.6
- .4

58.',
4.9

15. 7

51.0

57 .6
2.4

70. 9
-1 .o

TOTAL BUS !NESS
TOT Al CAP ITAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYS! CAL INVESTMENT

46.8
31.8
15.0

',0.5
33.1
7.4

50.6
35 .2
15.',

51.8
36. 7
15 .1

50.4
38.1
12. 3

60.4
42.3
18.1

63.8
44.4
19.4

70.2
47 .3
22.9

84.1
50. 5
H.6

97.0
54. 2
42. 8

93.6
58.2

35.',

99. 2
62 .3
37.0

NET BORROWING
NET EQUITY INVESTMENT

14.l
.9

13. 1
-5.7

15.7
- .3

1".0
1.1

16. 3
-4.0

18 .4
-.3

19.4

21. 7
1. 2

29. 6
4. 0

B.13
9. 0

37.9
-2.5

39. 1 9
-2. l 10

12
13

CORPORATE BUS !NESS
TOTAL CAP ITAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYS! CAL INVESTMENT

34. 7
20.3
14.',

27.3
21.4
5.9

36.9
22 .9
14.1

39.0
24.2
14 .9

36.7
25.4
11.2

44.0
29.2
14.8

45 .I>
30.8
14.8

52. 1
32.8
19.3

62. 8
35. 2
27 .5

77.1
38. 2
38. 9

72.5
41.2
31. 3

76. 9 11
44 .3 12
32. 6 13

1"
15

NET BORROW ING
NET EQUITY INVESTMENT

12.1
2.3

10.1
-4.3

11.5
2 .6

11.3
3.6

12.4
-1.2

12.7
2. l

12.4
2.4

13.7
5 .6

20. 5
7. 0

24. 9
14.0

29. 3
2.0

31.0 14
1 .6 15

61.2
40.8
20. 5

57. 7
42.6
15. 0

68.3
,.,, .5
23.8

67.8
46. 3
21 .5

6".7
47. 8
16.9

71.5
49.8

21. 7

76.3
52.4
23.9

P2. 2
55 .9
26.3

89. 6
59.9
29.7

94.2
64. 3
29.9

94 .4
69.8
24. 6

109. 1 11>
7',.2 17
32.9 18

12.9
7.6

11.0

21. 5
2 .3

l 7. 7
3.8

15.3
1.6

20.8
.9

24.8
-.9

27.9
- 1.6

28. 8
.9

23.2
6. 7

19 .7
4.9

31. 8 19
1.1 20

·"

3.9
- .9
l.O
1. 7

3.7
•5
1 .1
l.5

l .o
1. 0
1. 2
1.7

.1
.e
l. 3
1.3

-2.1
1.0
1.4
1.1

-3.4
2. 7
1.5
2. 3

-3. 3
"· 7
1. 8
2. 4

7. 9
2. C
2.4

-1.4
7."
1.9
3. 5

-2. 0
5 .e
1.9
4.7

,,

6
7
8
9
10
11

HOUSEHOLDS
TOTAL CAP ITAL OUTLAYS
CAPITAL CONSUMPTION
18
NET PHYSICAL INVESTMENT

16

17

19
20
21
22
23
24

NET BORROWING
NET EQUITY INVESTMENT
OF WHICH:
HOUSES LESS HOME MTGS.
DURABLES LESS CONS. CREDIT
NONPROFIT PtE LESS MTGS.
LESS--UNALLOCATEO DEBT

5. l
2. 3
.9
•7

... o
3.8

1.0
1.2

Ill CAPITAL OUTLAYS ARE TOTALS FOR RE SIDENTIAL ANO NONRESIDENTIAL

FIXED CAPITAL, NET CHANGE IN INVENTORIES, ANO CONSUMER OURABLES,
EXCEPT OUTLAYS BY FINANCIAL BUSINESS.

(2lCAPITAL CONSUMPTrnN INCLUDES A MCJJNTS FOR CONSUM ER DURABLES
ANO EXCLUDES FINANCIAL B USINESS CAPITAL CONSUM PTION.
131EXCESS OF NET INVEST MENT OVE R NET BORROWING.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

-.�

21
22
23
24

FEIIIIAIIY• 1910
HOUSEHOLDS

HOUSEHOLDS
SECTOR STATE MENTS OF SAVI NG ANO INVESTMENT
18[ lll ONS IF DOLLARS I

YEAII T OTALS. 1946-56

---------------------- 1947
1945

1946

HOUSEHOLDS,
------------------

YE AR TOTAl s. lCJit6-56
----------------------------------------------------------------lCJitCJ
1CJ1t8
lCJ51
1956
1955
1CJ50
1CJ52
1CJ51t
lq53
--------------------------------------------------------PERSONAL TRUSTS, At«> NON PROFIT ORGANIZATIONS
-----------------------------------------------------

7 .o

227.6
20. 7
1CJ3.9
13.l
1.11
.l
10 .2

255 .6
2q. o
20CJ. 3
17.3
1.6
.1
5. 5

27 2. 4
34.l
220.1
18.2
2 .o
.l
3. 6

288. l
35.6
234.2
18. 3
1.q
.1
6.4

290. 2
32.7
241.0
16.4
l.6
.l
4.CJ

310. 9
35. 5
25CJ. 5
15.8
1.8
•2
q_q

l R.l
lQ.6
1.7
.3
17. 6
37 .7

25.l
22. 5
l.9
.3
20.3
47.7

24.5
26. 8
2. 3
.4
24.l
51.2

23.8
28.6
2.4
.4
25.8
52.4

26. 7
30.0
2. 7
•5
26. 9
56.7

23. 0
31.5
3.1
•5
28. 0
54.6

27.7
33.8
3. 5
.5
2q. 1
61. 5

2q . 3 8
37.4 q
3. 8 10
.6 11
33 .o 12
66. 8 13

38. 7
�6. 6

4q .8
47.5
15.6
30 .5
1.4

57.1
46.9
15 .8
29.6
1.5

54. 9
46.0
15. 3
29. 3
l. 4

60. 0
50.CJ
16. 2
33. 2
1. 5

5Q.4
51. 5
16. 8
32. 8
I.CJ

67.4
62. 6
21.l
39.6
l.9

72.3
61. 2
20. 2
38. q
2. l

14
15
lb
l7
18

2.1
10.2
.9
-1. 8
2.6
.1
2. 5

2. 3
16-l
4. 5
2. 0
2. 5

.

8.9
21.6
9.8
2.I
2. 7
5 .o

9. 1
22. 2
8. 9
.6
8. 3
2. 5
5. I!

8.0
20.3
IO. f,
1. 4
9. 2
2. 5
6. 6

"· 8
25.4
9. 3
•5
8. 8
l.7
7.1

ll.l
27. 5
10.5
1.0
9. 5
2.2
7. 3

19
20
21
22
23

2.4

10. 2
18.7
7.8
3.4
4.5
1. 4
3.1

2.1

2.9
3 .Q

2. 6
3. 5

2. 8
4. 9

3.0
5. 0

2. 7
5.2

2. I!
5.6

3. It 26
6. 2 27

2. 9

.9
-.2
.6

3.2

1. 0

4.3
•3
2. 1

•2
.5
•7

1. 9
-. 9
.4
-. 2
•3
I. 3
.9

•5
1.1
•8

9. 2
2. 5
3.4
1.1

I. 0

2. 5
-1. 4
2.3
-. 4
•5
•2
1.2

7 .8
1.1
2. 3
.9
1.1
•9
I. 5

3. 2
•3
•3

2. 5
-. l
.6

.4

-.2
•7

.4

-1. 3
•3
•3

-I. 8
-.l
•5

-. 7 35
36
• 3 37

13.8
12 .9
7.4
.s
3.I
I .O
.6
.3

l!.6
8.6
7. I
.6
.6

12 .6
12.1
6.4
.5
4. I

13. 1
12 .s
1. 7

2 C.6
19. 7
12. 2

-.6
•3

•3
.1

•2

12. 3
11.1
8 .6
•7
.6
•5
.4
•3

16. 4 3 8
H,.l 39
II. 2 ltC
• 1 41
2. 8 42
• 1 43
• 4 44
.3 45

-. 2

.s

.I
.1

1.1
.I
.1

.1

.1

•2
•2
.l

.I
.1

46
.I 47
.2 48

-5.9

-2. 5

-3. 3
·

-4. 8

-5.9

-5. 6 49

178. 7
18. 7
l't4.8
15.2
1.8
.1
5. I!

191 .3
21.lt
162.5
7.3
1 .8
7. 5

7.l

NET SAY ING
9 + CAPITAL CONSUMPTION
ON OWNER-DCC. HOMES
10
ON NONPROFIT Pl .+EQ.
11
ON CONSUMER OUR ABLES
12
13 = GROSS SAVING

22 .9
11.5
1. 3
.2
10.0
34.4

16.7
14.6
1.5
•2
12.q
31.2

22.0
17.4
l .6
•3
15. 5
3q .4

14 GROSS INVESTMENT
1 5 C APl TAL EXPEND. INET OF SALES
16
RES IOENTI Al CONSTRUCT ION
CONSUMER DURABLE GOODS
17
PLANT + EQUIP. I NONPROFIT I
18

36.8
21.8
5. 5
15.8
.5

35.2
2CJ.4
8.3
20. 4
•7

41. 0
35.8
12.l
22.1
1.0

24 .6
l.3

NET FINAN. INVESTMENT
NET ACQ. OF FINAN. A SSE TS
TOTAL DEPOSITS + CURR.
DEMAND DEPO SITS + CURRENC
SAVINGS ACCOUNTS
AT COMMERCIAL BANKS
AT SAVINGS INSTITUTIONS

15.l
19.5
9. 3
3. 0
6. 3
3 .6
2. 7

5.9
13.7
l.lt
-2 .o
3.4
I .2
2.2

5 .2
13.5
-.1
-2. 3
2 .3
•3
2.0

3. 8
l. 5

3.1
2. 2

2 .8
2. 5

4 .o
1.9
.4
- .8
•2
.9
l. 3

3. 2
.1
1.1
-. 2
.1

2.4
-.l
•5

4 .e

1 PERSONAL INCOME
2 LESS- PERSONAL TAXES + NONTAXE
3
PERSONAL OUTLAYS
PERSONAL SAVING, NIA BASIS
5 + CREDI TS FROM GOVT. lNSUR.
6 + CAP ITAL GAINS DIVIDENDS
7 + NET DURABLES IN CONSUMPTION

"8 -

19
20
21
22
23
24
25

.

210. 2
21.1
175. A
13.4
1.5

201.2
18 .6
17<1.2
9.lt
l. 7

.

10.1

26
27

LIFE INSURANCE RESERVES
PENS ION FUND RESERVES

28
29
30
31
32

.6
-1. l

34

CREDIT MKT. INSTRUMENTS
u.s. GOVT. SEC�ITIES
STATE AND LOC Al DBLIG.
CORPORATE ANO FGN. BOND
INVESTMENT CO. SHARES
OTHER CORP. SHARES
MORTGAGES

35
36
37

NET lNV. IN NON CORP. BUS.
SECURITY CREDIT
Ml SCELLANEOUS

3. 4

38
39
40
41

NET INCREASE IN L IAB IL !TIES
CREDIT MKT. INST�UMENTS
HOME MORTGAGES
OTHER MORTGAGES
INSTALLMENT CONS. CR.
OTHER CONSUMER CREDIT
BANK LOANS N.E.C.
OTHER LOANS

4.4
6. 9
3.8
.2
1. 7
1.0
•3

7 .8
8.0
4.3
•3
2 .5
•7
.1
.l

8 .4
8 .s
5.0
.4
2.3

8 .o
7.1
4.1

.s

2. 6
•3

•2

.2

-2. 7
•1
.1

-.4
.I

.3

.1

-. 3
.1
.1

.1

•7
.I
.1

-2.5

-4.0

-I .6

-1.0

-2.I

33

lt2

43
44
45
46
47
48
49

SECURITY CREDIT
TRADE DEBT
Ml SCELLANEOUS
DISCREPANCY


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

-.9
.3

.8

l .5

.8

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1. 2
.4

2. 8

1.1
.1

-.4
•3
.4

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3 .6
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1. 2

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5.3
1.0
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333.0
39.8
272.6
20.6
2 .6
•3
5. 9

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5
6
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2't

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28
29
30
31
32
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34

.

FEBPUARY, 1970
HOUSEHOL CS

HOUSEHOLDS
SECTOR STATEMENTS OF SAVI NG ANO INVESTMENT
( Bl LLIONS OF DOLLARS I

YEAR TOTALS, 1957-68
---------------------------- - - - - - - - - ------------------------------------------------------------ - -------- - ------------------------l9b6
1967
1957
1968
1965
1958
1959
1964
1960
1962
1961
1963
-------------------------------------------------------------------------------------------------HOUSEHOLDS, PERSONAL T RUSTS, AND NONPROF IT ORGANIZATIONS
---------------------------------------------------------------------------------------------------

YEAR TOTALS, 19 57- 68

351.l
42.6
2 87. 8
20. 7
2.2
•3
4. 9

361.2
42 .3
296.5
22. 3
2. 5
•3
.6

383. 5
46. 2
318 .2
19. l
3. 0
.4
5 .5

400.'1
so. 9
333.0
17 .o
3.3
.4
5 .I

416 .8
52.4
343.2
21.2
3.5
•5
2. 9

442.6
57 .4
363.7
21.6
3 .b
.5
6. 7

465.5
60.9
384.6
19.9
3. 7
.5
8.9

497. 5
59.4
411.9
26.2
4.2
.6
11.2

538. 9
65. 7
444. 8
28 .4
4.8
.9
14. 8

587.2
75.4
479.3
32. 5
5.3
1.3
15. 2

b29.4
8 2 .7
506.2
40.5
6.0
1.1
12.4

687. 9
97.9
551.6
38. 4
5.6
2. 5
16.9

8 = NET SAVING
9 + CAP ITAL CONSUMPTION
O N OWN Ell-DCC. HOMES
10
ON NONPROFIT PL.+EQ.
11
ON CONSUME<\ DU RABLES
12
n = GROSS SAVING

28. l
40. 8
4. 2
•6
35 .9
b8. 9

25. 6
42 .6
4.6
•7
37.3
68. 3

28. 0
44. 5
4.9
•8
38. 8
72 .5

25.8
46.3
5. 3
.8
40.2
7 2. l

28.0
47.8
5.6
.9
41.3
75.8

32 .4
49.8
6. 0
1.0
42.9
82.2

33.0
52.4
6.4
1.0
45.0
85 .4

42.l
55. 9
6.8
1.1
48.0
98 .o

49.0
59. 9
7.1
1.2
51. 5
108. 8

54.3
b4.3
7.4
1. 3
55 .6
118. 6

60.7
69 .8
7.8
1.4
60.6
130.5

63. 3
76. 2
8 .2
1. 5
66.5
139.5

8
9
10
11
12
13

14 GROSS INV ESTMENT
15 CAPITAL EXPEND. I NET OF SALES
RESIDENTIAL CONS TRUC Tl ON
16
17
CONSUMER DURABLE GOODS
PL ANT + EQUIP. (NONPROFIT)
18

74.3
61.2
18.l
40.8
2.4

75. 0
57.7
17. 3
37.9
2. 5

77. 7
68. 3
21.4
44.3
2.6

74 .8
67.8
19.7
45. 3
2.8

79.3
64.7
17.6
44.2
3.0

87. l
71.5
18.7
49.5
3.2

91. 5
76.3
19.0
53.9
3. 4

101.2
82.2
19.3
59.2
3. 7

112 .4
89.6
19. l
b6. 3
...1

119. 8
94.2
18. 9
70. 8
4.5

131.4
9 .....
16.9
4.5

133. 3
109. l
21. 2
83.3
4.6

15
16
17
18

NET FINAN. INVESPIENT
NET ACO. OF FINAN. A SSE TS
TOTAL DEPOSITS + CU!\R.
DE MANO OEPOSITS + CURRENC
SAVINGS ACCOUNTS
AT COMMEIIC JAL BANKS
AT SAVINGS INSTITUTIONS

13.l
25. 8
10.9
-1.2
12.l
5. 2
b. 9

17.4
29. 8
15. 7
1.1
14 .o
5. 3
8. 7

9.4
31 .4
13.4
2. l
11.4
2.9
a. 5

6.9
24.7
l I .2
-1. 2
12.4
2 .8
9.b

14.5
31. 5
18.b
I.2
17.4
6.2
ll .2

15.7
36.6
26.l
2 .8
23.4
10.3
13.0

15.2
42.3
28. 7
5. 7
23.0
7.9
l 5. l

19.0
47.l
30.2
6.3
23.9
8 .2
15.7

22.9
53.0
33.6
7.2
26. 4
13. 3
13. l

25.6
49. 3
22. 2
3.1
1 9. l
ll.9
7. 2

37.0
60.7
43. 9
ll.4
32 .5
15. 8
16. 7

24 .3
58.9
3lt. 7
6.9
27 .7
15.1
12.6

19
20
21
22
23
24
25

4. 5 26
14.9 27

l
2
3
4
5
6
7

19

70

21
22
23
24
25

PERSONAL INCOME
LESS- PER SON AL TAXES ♦ NON TAXE
PERSONAL OUTLAYS
= PERSONAL SAVING, NIA BAS IS
+ CREO ITS FROM GOVT. IN SUR.
+ CAP IT AL GAINS DIVIDENDS
+ NET DURABLES IN CONSUMPTION

n.o

l't

26
27

LI FE INSURANCE RESFRVf:S
PENS 10"1 FUND <\ESERVES

2. 7
b. 7

2 .9
7. l

2.9
a. 5

3. 2
8 .4

3.4
8. 8

3. 7
9.1

4.1
9.7

4. 3
10.9

4. 8
12.3

4. 6
13. 4

4 .fl
15.3

28
29
30
31
32
33
34

CREDIT Ml(T. I NSTI\UMENT S
GOVT. SECURITIF.S
STHE AN C LOCAL OBL JG.
COI\POllATE ANO FGN. BOND
INVESTMENT co. SHAllE S
OTHER CORP. SHARES
MORTGAGES

b.3
1.8
1. 0
I.2
•3
1.9

3.0
-2.6
•8
1.1
1.4
.1
2.3

10.9
5 .o
3.I

•l

3. 0
- .1
I. 4
•3
I.9
-1. 5
I.7

-.8
.I
•8
-.6
I.A
-3. 9
I .o

1.3
3.5

l. 7
-1.1
1.8

4. 5
-. 5
3 .4
.2
I. 5
-1.9
2. 0

-.6
l. 2
-4.0
•3

4. 0
2.2
2 .o
-.5
1. 9
- 1.9
•3

2.5
2. 2
2 .3
•7
3.1
- 5. 0
- .8

11.q
7. 3
2.l
2. 0
3.7
-4. 7
1.4

-1 .4
.b
-2.1
4.0
2 .5
-7.4
1.0

35
36
37

NET INV. IN NONCORP. BU�.
SECURI TY CR ED IT
Ml SCELLANEOUS

-I. I

.5
•3
•3

-4. 6
--2
•5

-3. 3
.I
.5

-2.9
.I
•5

-2.I

-2.l

•5

•5

-3.2
- .1
.9

-1. 9
•5
1. 3

-4.l

.3

1. 2

-4 .6
1.1
l. 7

-3. 2 35
•7 36
l. 8 37

38
39
40
41
42
43
44
45

NET INCREASE IN LIAB Ill TIES
CREOIT MK T. INSTRU MENTS
HOME MORTGAGES
OTHER MORTGAGES
INSTALLMENT CONS. C R.
OTH�R CONSUMER CREDIT
BANK LOANS N. E.C.
OTHER LOANS

12. 8
12. 9
8. 'I
.g
2.I
•5
•2
.5

12.5
ll.0
B.8
•A
-.2
.4
•7
•5

22.0
21.5
12.6
•8
5. 6
.8
I. 0
•1

17. 8
17. 7
I() .8
.'1
3. 7
.9

16.9
15.3
10 .9
.9
.9
.'1
.9
.8

21. 0
20. �
12. 7
1.0
4 .a
I .o
.5
.0

27.l
24.8
14. 8
1.0
6.8
1.2
.4
•7

28.1
27.9
16 .o
I. 0
7.2
I .3
1. 5
.9

30. 2
28. 8
15.2
I.2
0. 6
1.4
1.4
.9

23. 6
23. 2
12. 3
1.3
b. 2
l. 0
.4
2.0

23.7
19. 7
l 0.5
1.2
3 .4
1.2
2.I
1.3

34. 6
31 �8
14. 9
l.l
9.0
2 .I
3. 0
1.6

-. 4
.I
.2

I.2
•2
.I

•3
•2

• ?.

I. 3
.I
.1

-. I
•2
.2

?..O
•2
.2

-.2
•3
•2

•8
•2
•3

-. 2
.3
.4

3.3
.4
.3

2.l 46
. 4 47
.4 48

-5. 4

-6. 8

-5 .2

-2.6

-3.5

-4. 9

-6.0

-3.2

-3.6

-1. 2

-. 9

� .2 49

46
47
48
49

u. s.

SE CURI TY Cll ED IT
TRADE DEBT
MISCELLA"JEOUS
DI SCI\EPANCY


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.1,

.9
-.1

.a

5.5
7. l
-.2
4.6
4.7
-12 .4
1.6

28
29
30
31
32
33
34

38
39
40
itl
42
43
44
45

FEBRUARY, l'l70
BUS I NESS

BUSI NESS

10

10

SEC TOR STATEME NTS OF SAVI NG AND INVESTMENT
C 8 Ill IONS OF □ OLLA RS l

YEAR TOTALS, 1946-56
Y EAR TOTALS, 1946-56
--------------------------------------------------------------------------------------------------------------------------------1956
1950
1949
1951
1947
1952
l 948
1955
1946
1945
1953
1954
--------------------------------------------------------------------------------------------------NONFI NANCI Al BUSINESS - TOTAL
--------------------------------------------------------------------------------------------------INCOME BEFORE TAXES
GROSS SAVING

57. 5
11.6

63 .2
17 .4

7 4.9
24.4

67. I
25.7

76. 3
25. 3

85.6
28.3

GROSS INVESTMENT
C APITAL EXP END !TURES
FIXED I NVESTM ENT
BUS !NESS PLANT + EQUIPMENT
1-4 FAMILY RESIOE NT. CONST
OTHER RES! DENT IAL
CHANGE IN INVENTORIES

10.9
24. 7
18. 3
16.6
1. 2
•5
6.4

15. 2
24 .8
25 .3
22.5
1. 7
1.1
-.5

21.6
32.6
27.9
2 5. 5
.9
l. 5
4 .7

25.2
23.4
26. 5
23.5
1.1
1. 8
-3. l

25.4
36. 7
29. 9
26. 2
•9
2. 8
6.8

26.4
41.7
31.4
30. 0

1 0 N E T FIN AN CIAL INVEST ME NT
NET INCREASE IN F [NAN. ASSET
II
NET INC REASE IN LIABILITIES
12
CR EDIT MKT INSTRUMENTS
13
SECURITIES
14
HOME MORTGAGES
15
OTHER MORTGAGFS
16
BANK LOANS N.E .C,
l7
0 THER LOANS
18
TRADE DEBT
19
OTHER LIABILITIES
20

-13.9
2. 5
16.3
8, 8
2.0
•6
1.6
4.6
.1
2. 8
4. 6

-9 .b
11.2
20.7
l O.3
4 .o
•8
I. 7
3. 6
•2
3 .9
6. 5

-11.0
5.7
16 .6
7.7
5.3

I. 8
4.0
2. 3
4. 2
4. 2
•2
1.7
-2.1
•2
-1.1
-.8

-11.4
18. 7
30.D
10.2
3 .o
.1
2. I
4.3
•7
8.3
11 .6

3
4
5
6
7
8
9

21 DI SCR EPANCY

1.8
•2
.4
2.5
6 .4

8 2.9
30.0

80.6
30.5

78. 0
33.0

B8.3
39.2

88 .5
39.7

1.4
10.3

2B.6
::14 .e
31.7
29. 8
1.0
.9
3. I

27. 3
34. 6
34. 2
32. 4
.6
1. 2
.4

31. I
32. 6
34.I
31 .2
1.6
1. 3
- t. 5

35.I
43. 8
37. 9
35. 7
.9
l.2
6. 0

34. 5
47 .2
42.5
41. I
•2
I.3
4. 7

6
7
8
9

-15.3
9.4
24.7
12.0
5.2
-.6
2.4
5.0
.8
3.3
8.7

- 6.3
6. 5
I 2. 8
11.1
7 .o
.2
I. 8
2.4
-.3
2.I
-.4

-7. 4
2.0
10.I
I>. 2
5. 2
-• l
I. 8
-1. 0
•3
•5
3.5

-1. 5
6. 6
8.0
7.7
5. l
•7
2.1
-.5
.2
3. 3
-2.9

-8.7
19.4
28. 0
13.7
4.8
•3
3.0
5,I

-12,7
6 .9
19.6
14.6
5 .9
-.4
3. l
5. 6
.5
4.8
•2

10
11
12
13
l't
15
16
17
18
19
20

.

.6

9.5
4. 8

3

4,1
1.9
2.8
I .8
2 .2
5 .2 21
•7
1.4
3. 2
------------------------------------------------------------------------------------------------FAR� ANI) NONF ARM NONCORPORATE BUS!NESS
--------------------------------------------------------------------------------------------------.<;

40. 8
3. 8

40.2
4. 8

45 ,4
5. 8

4D. 4
6.7

43. 0
7 .4

47. 8
8.4

48. 2
B.9

46.7
9.3

46. 3
9.6

48. 0
10. l

49.4
10. 8

3. 8
6. 8
6.4
.4

4.8
7 .6
9.3
-1. 7

5. 8
12 .3
9.7
2. 7

6. 7
8. I
9 .5
-1.4

7.4
12 .6
10.6
2 .o

8 .4
II. 8
10.0
t.7

8,9
10.4
9.5
•9

9.3
10.0
10.3
-.4

9.6
10. 9
10.6
.4

10.I
12.3
11,3
l.D

10. 8
11.3
11,4
-. 2

-3.0
2.3
5.4
t. 7
•7
•8
•2
•2
3. 4

-2. 8
2. 0
4. 8
1.9
.9
•7
•3
.5
2,4

-6 .5
.4
7. 0
1. 2
•7
.t
.4
1.0
4 .0

-1. 5
.3
I.8
1.1
1.0
-. l
.2
•2
•5

-5. 3
.8
6. l
2. 7
t.3
.9
.5
.2
3.2

-3.4
I, 7
5. 2
2.3
1.0
.9
•5
.4
2. 5

-1.5
•2
t. 8
1.7
l, 2
•3
•2
-.3
.4

-.6
•3
.9
•3
.8
-.6
.t
•2
.4

-1.3
.8
2.1
t. 7
I. 2
•2
•2
1. 7
- 1. 3

-2.3
•7
3.0
3, I
1.5
1.1
.6
l.6
-1. 8

-.4
.6
1.1
l.7
1,1
•3
.4

PROFITS BEFORE TA•X
- PROF ITS TAX ACCRUALS
- NET 01 VIDENDS PAID
= UNDISTRIBUTED PRO FITS
+ FGN. BRANCH PROFITS
+ INV. VALUATION ADJ,
+ CAP! TAl CONSUMPTION A ll.
= GROSS INTERNAL FUNDS

21. 9
8 .6
5.1
8. 2
•3
-5.3
4. 6
7. 8

28.9
10. 8
5 .8
12.3
.5
-5 .9
5.7
12.6

31.6
I I. 8
6 ,4
13.4
.6
-2. 2
6 .0
18.7

24.8
9. 5
6.4
8 .9
•5
1. 9
7. 8
19.I

38 .3
16.6
7.9
13. 8
.5
-5 .o
8.6
17 .9

39.0
20.9
7.7
10.3
.8
- t. 2
10.0
19.9

33. 7
17.7
7 .8
8. 2
•8
I .O
11.2
21.2

34. 8
18. 4
0.0
B.5
.8
-1. 0
12.9
21. I

32.0
15. 7
8. 2
8.I
.9
-.3
14. 6
23.3

42.0
19.8
9.4
12. 8
1.1
-1.7
17.0
29. 2

41. 8
19. 7
to.I
12. 0
1. 2
-2.7
18.4
28. 9

I
2
3
4
5
6
7
B

9
10
II
12
I3
14

GROSS INVESTMFNT C 10 + 15)
CAPITAL EXPENDITURES
FIXE!) INVESTMENT
PLANT AND EQUIPMENT
RES! DENT [Al CONSTIIUCTION
CHANGE IN INVENTORIES

7.1
17. 9
12, 0
11.4
.6
6. 0

10 .4
11.2
16.0
15. 0
I.a
I.2

15. 8
20 .3
18.2
17. 5
.7
2. l

18.6
15. 3
17 .o
16.0
1.1
-1. 7

18 .o
24.I
19.3
17.B
l. 5
4. 8

1 e.o
29.9
21.4
21.0
•3
8.6

19.7
24.4
22. 2
21. 6
.6
2 .2

17. 9
24.6
23.8
23. 3
.5
.8

21. 5
21. 6
23.6
22.5
1.1
-t. 9

25 .t
31. 5
26.6
25 .0
•B
4,9

23. 7
35. 9
31.0
30.7
.4
4.9

9
10

15
16

NET FINANCIAL INVESTMENT
NE T ACQ UIS. OF F [NAN. ASSET

-10.8
.t

-6. 8
9 .t

-4.5
5. 2

3.3
3. 7

-6 ,I
I7 .8

-11.9
7. 7

-4. 7
6 .3

-6. 7
2. 5

-.z
5. 8

-6.4
18.6

-12. 2 15
6 .3 16

-4. 8
1.0

1.1
2. 2

1.1
•2

3.2
1.0

4. 5
l.5

2. 8
1.7

•3
•8

z. l
.1

-5. 8
.1

-1 .2
.t
.6
6.3
1.0

2.0
.t
.t
.4
-.7
.9

2.9

.6
3. 7
.6

.7
.t
.1
.5
2 .6
.9

.2
.8
11.8
.8

.9
.1
.1
.5
3.7
•7

-.7
.2
.1
.0
4.3
.9

1.6
•3
•l
.2
-.8
.9

.1
2.0
•2
-2. 3
.1
.t
•3
4.6
.8

5.6
t. l
-.t
4.2
•I
.z
•7
11.4
1.0

-It.I 17
• 2 18
19
-4. 5 20
.t 21
.1 22
• 5 23
7. 5 24
2.4 25

10.9
7.l

15.9
8.4

9.7
6.5

.5
3.I

24.0
7.4

19.6
10.4

11.0
9.4

9. 2
5 .8

6. 0
6.0

25 .o
10.6

18 • 5 26
12.9 27

1.0
1.1
1. 5
3. 8
-. l
-2. 0
2.6
3.2

2. 8
l .2
t.6
2. 9
-.I
2 .5
3.4
t.7

4.3
1.0
1.1
•l

2.9
1.3
.9
-2.0

4.7
2.3
.9
2. l
-.5
- 3.3
2.4
2. 5

3. 4
1. 8
.0
-.4
•2
.6
.3
2. 5

2.8
1.9
1. 8
4.0

-2.4
-1.3
1.1

3.3
t.9
.8
4.2
•3
4.7
2.9
I. 5

3.5
1.6
1.6
-.7

.9
1.5
.8

1.6
t.4
.9
3.4
.1
7 .5
8.2
.8

-3.3
1. 6
1. 7

4.1
7.9
2.5

•7
1.1
10.0

2 .2
2.9
8.2

2.8
1.1
11.0

•5
.6
ll.8

3.7
9.4

t.8
•7
16.2

1.4
2. 0
21.7

3. 2
-l •l
18.4

1. 9
3.0
18.4

4.1
3. 5
17.0

NET INCOME
GROSS SAVING
3 GROSS INVESTMENT
4 CAPIT Al EXP ENDIT UR ES
FI XEO INVESTMENT
5
CHANGE IN INVENTORIES

9
lQ

rt

12
13
14
15

6
7
8

17
18
19
20
21
22
23
2'
25

lb

27

28
29
30
31
32
33
34
35
36
37
38

NET FIN ANCIAl INVESTMENT
NET I NCREASE IN F !NAN. ASSET
NET INCREASE IN LIABILITIES
CR EDIT MKT. INSTRUMENTS
MORTGAGES
BANK LOANS N. E. C.
OTHER LOANS
TRADE DEBT, NET
PROPRIETORS' NET INVESTMEN

.

3
4
5
6

9
10

II

12
13
14
-. 7 15

--------------------------------------------------------------------------------------------------NONFI NANCI Al CORPORHE BUSINESS
------------.-------------------------------------------------------------------------------------

LI QU IO ASSETS
DEMAND OEP. AND CURR.
TIME DEPOSITS
u. s. GOVT. SECUR !TIES
OPEN-MK T. PAP ER
STATE AND LOCAL DBLIG.
CONSUMER CR EDIT
TRADE CREDIT
OTHER F INANC !Al ASSHS
NET INCREASE IN LIABILITIES
CREDIT MK T. INS TR UMENTS
CORPORATE BONDS
CORPORATE STOC K
MORTGAGES
BANK LOANS N. E.C.
OTHER LOANS
PROFIT TAX LIABILITY
TR ADE DEBT
OTHER LIABILITIES
01 SCREPANCY
MEMO- NET TRADE CRECIT
PROFITS TAX PAYMENTS


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

•

. .

.

.

•

.

II

12

13

14

-

3. 6
2.3
t.6
5.3
.1
-2.0
4. 7
2.9

28
29
30
31
32
33

34
35

5.2 36
2. 8 37
22. l 3 8

FEBRUAIIY, 1970
BUSINESS

BUSI NESS

II

11

SECTOR STATEMENTS OF SAVI NG ANO INVESTMENT
! BILL IONS OF DOLLARS I

YEAR TCTALS, l 95 7 68
---------------------------------------------------------------------------------------------------------------------------------1957
1%6
1958
1959
1967
1962
1%3
1968
1960
196 5
1%1
1%4
- ----------------------------------------------------------- ------------------------------ ----NONFINANCI AL BUSINESS - TOTAL
-------- ------------------------------------------------- ----- - ------- ------- ------- ---------- ----

YEAR TOTALS, 1957-68

-

INCOME BEFORE TAXES
GROSS SAVING

89. 3
42.0

87. 1
41.2

96. 2
47. 2

93.4
47.2

95.7
48.I

102.4
55 .o

106.9
57. 3

115. 3
65. 0

129.5
71-8

139.1
11 .1

135. 8
78. I

145. I
81. 0

GROSS INV ESTM ENT
CAPITAL EXP ENOI TURES
FIXED INVESTMENT
BUS !NESS PLANT + EQUIP MENT
1-4 FAMILY RESIDENT. CONST
OTHEII RESIDENTIAL
CHANGE IN INVENTOR JES

39.4
46. 8
45.4
43. 3
.4
1. 7
1. 3

37.5
40. 5
42.0
38. 5
1 .2
2. 3
-1. 5

42.5
50.6
45. 8
41. 7
.e
3.2
4.8

42.6
51 .8
48. 2
45.1
-•2
3 .3
3. 6

4l.9
50 .4
48.4
43.3
•9
4.2
2 .o

50.0
60.4
54.4
47.8
•7
s. 9
6 .O

53.5
63. 8
57. 9
49.9
1.0
7. o
5. 9

58 .o
70 .2
64. 3
56. 5
.1
7 .7
5. 8

64. 6
84. 1
74. 4
66. 3
• 1
7 .4
9.6

69. 6
cn. o
82. 2
76. I
-. 1
6. 8
14.8

69.9
93 .6
86 . 2
78. 2
2.0
6.1
7 .4

74 . I
99. 2
91.<J
82. 9
.9
e. 1
7. 3

9

10 NET FINAN CIAL INVESTMENT
NET INCREASE IN FINAN. ASSET
11
NET INCREASE IN LIABILITIES
12
CREO I T MKT INSTRUMENTS
13
SECURITIES
l't
HOME MORTGAGES
15
OTHER MORTGAGES
16
BANK LOANS N.E.C.
17
18
OTHER LOANS
TRADE DEBT
19
OTHER LIABILITIES
20

- 7. 4
7.1
llt.5
lit.I
e. 8
-. 2
2. 7
1.6
1. 2
1.5
-1.0

-3. 0
14. 9
17.9
13. 1
7. 8
•5
4.4
.2
•3
4. 5
.3

-ll .1
15.1
23.2
15.7
5 .2
•2
5. l
4 .5
.1
6.1
1.4

-9. 2
4.5
13.7
14.0
5 .o
- .6
4. 7
2 .3
2. 5
1.2
-1. 5

- 6. 5
16.0
22.6
16. 3
7.1
•2
6.8
I. 3
.9
6 .o
•2

-10.4
16.6
27 .1
18.4
5. I
.I
8 .o
4.3
.9
4.9
3.7

-10. 3
18. 2
28.4
19.4
3.6
•4
9.0
5 .o
I .5
5. 7
3.4

-12.1
13.9
26.0
2 I. 7
5 .4
-•3
9.4
4. 6
2 .6
3.4
.9

-19. 5
24. l
43. 5
29. 6
5.4
.1
9. I
12. 3
2. 6
9. I
4 .9

-2 7. 4
16. 5
43. <J
33. p
11.4
- l. 0
9.7
10.1
3. 6
7. 4
2.7

-23. 7
14. 7
38 .4
37. 9
17. 0
1.1
9.2
7.7
2. 8
4.0
- 3. 5

-25 .1
28. 2
53. 3
39. I
12 . I
•3
11.0
10. 6
5 .I
6. 8
7 .4

10
II
12
13
14
I5
16
I7
18
19
20

3
4
5
6
7
8
9

21 DISCREPANCY

3

4.9
4.2
8. 0
7. 2
4.6
2.6
6.9
3. �
3. 8
6 .<J 21
8.2.
-----------------·
-----·4.8
------------------------------------------------------- - -- --------------FARM A NO NONFARM NON CORPORATE BUS !NESS
----------------------------------------------------------- -------- ----------- -------- ---------51.0
ll.5

53. 7
11.a

53. 5
12.3

53.2
12. 8

55 .6
12. 5

57 .5
13. I

58. 4
13- 5

60.1
14. 5

65.6
15. 2

69. 8
16. 5

70. 7
17 .0

72. A
I 7. 9

ll.5
12.l
11.3
•8

11. 8
13.2
12. 2
1.0

12 .3
13.6
13 .o
.6

12.e
12.7
12. 2
•5

12. 5
13.8
13.3
•5

13. I
16. 5
15.1
I.3

13. 5
18.2
16.7
1.5

14.5
18. I
18.l

15. 2
21. 3
19.6
1. 7

16. 5
19.9
19.5
.4

I 7. 0
21. I
20. 2
1.0

17 .9
22. 4
21.6
.A

3

-.6
1.1
1.7
2. 0

-1.4
-1.1
.2
4 .2
2.2
1.0
1.0
.1
-4.6

.1
-. 2
-. 3
2.7
1.6
•5
.1
.3
-3 .3

-1.3
.5
I. 8
3.9
3.0
.6
•3
• 1
-2 .9

- 3. 3
.1
4.0
5.7
3. �
1 .3
1.0
.3
-2.I

-4. 8
.5
5 .2
7. 0
lt.5
1.2
1.3
.4
-2. I
---

-3. 6
1.0
4.7
8. 0
5. 5
.8
I.7
- .1
- 3.2
- -

-6. 1
1. 0
7. I
9.1
5.4
1. 7
2. 0
-

- 3.,.
1.1
"· 5
9.0
"· 5
2 .2
2. 2
-. 4
- 4.1

-4. 2
1. 2
5.4
8. 5
5. 8
1. 3
I .4
1. 5
-4.6

-4. 5
1. 5
6 .o
8. I
5. 5
1.1
1.6
1.1
-3. 2

7

.4
.1
.9
-1.l

-1. 5
1. 8
3.2
2. 9
1. 9
.6
.4
-.2
•5

PROFITS BEFORE TAX
- PROFITS TAX ACCRUALS
NET DIV IOENOS P AID
z UNO ISTR IBUTEO PROFITS
0
+ FGN. 8RANCH PROFITS
♦ !NV. VALUATION ADJ.
♦ CAPITAL CONSU MPTION ALL.
z GROSS INTERNAL FUNDS

39. 8
18.9
10.4
10.6
1.3
-1. 5
20. 3
30.6

33.7
16.2
10.2
7. 3
1. 0
-.3
21.4
29.5

lt3.2
20.7
10.9
11.6
1.0
-.5
22.9
35. 0

ltO. I
19 .5
11.6
9.0
1.0
.2
24.2
H.4

40.2
19.7
11.6
8.9
I. 3
-.1
25.4
35.6

ltlt.6
20. 8
12.7
11.0
1. 3
.3
29.2
41.8

lt9.I
22. 8
14.2
12.0
l. 5
-. 5
30. 8
43.9

55. 7
24. 2
14.9
16. 5
I.8
- .5
32. 8
50. 5

65. 7
27 .5
16. 8
2I. 3
l. 8
- I. 7
35. 2
56. 6

71. I
30.0
18. l
22. 9
l •· 8
- I. 8
38. 2
61. 2

66.2
28.l
19.0
19.1
2.1
-I.1
41.2
61 .2

75 .6
35 .6
20. 3
19. 7
2 ·"
-3.2
44. 3
63. I

9
10
11
12
13
14

GROSS INVESTMENT ! 10 + 151
CAPITAL EXPENDITURES
FIXED INVESTMENT
PLANT ANO EQUIP MENT
RES I DENT IAL CONSTRUCTION
CHANGE IN INVENTORIES

27.9
34.7
H.l
33.4
•1
.6

25. 7
27. 3
29.8
28.4
1.4
- 2. 5

30.2
36.9
32. 8
31.l
1.1
4.1

29.8
39.0
36. 0
34.9
1.1
3. 0

31.lt
36. 7
35.1
33. 2
I.9
1.5

36.9
44.0
39.3
37.0
2.3
4 .7

40.0
45.6
41.2
38 .6
2.6
4. 3

43.6
52. I
46.2
44. l
2. I
5. 9

49.4
62. 8
54. <J
5l. a
2.o
7. 9

53. I
77.1
62. 7
6 l. 6
1.1
14.4

53. 0
72.5
63. 8
2 .2
6.4

56. 2
76. 9
70. 3
68 .o
2. 3
6. 5

15
16

NET FINANCIAL INVESTMENT
NET ACQUI S. OF FINAN. ASSF.T

-6. 8
6.0

-1. 6
13. I

-6.7
16.2

-9 .2
4.7

- 5. 3
15 .5

- 7.1
16.0

-5. 5
17. 7

- 8. 5
12. 8

- 13.4
23. I

- 24. 0
15.5

-19. 5
13. 5

-.I

2 .5
1.4
.9

-3. 5
-.5
1.3
-5.4
1. 3
-.2
.4
5. 3
2.5

3. 8
1. 6
1.9
-.2
.6
•2
Q.5
2.0

3.5
-.9
1. 7
.5
.5
-. 3
•7
� .5
3. 2

4 .7
-.8
3.9
•5
.9
.2
1.0
8. l
3.Q

I. 2
-2. 3
3. 2
-1. 5
1.6
•2
I. 3
8.1
2 .2

I. 7
- 1. 5
3.9
-1. 6
•5
•5
I. 2
15. l
5. I

1.9
•1
-.1
-l. 2
2. 0
1. 0
1. 2
11.3
I. 0

NH INCOME
GROSS SAVING
3 GROSS INVESTMENT
CAPIT Al E XPENOITURES
FIXEO INVESTMENT
CHANGE IN INVENTOR !ES
1 NET FINANCIAL INVESTMENT
8
NET INCREASE IN FINAN. ASSET
NET INCREASE IN LIABILITIES
9
CREDIT MK T. INSTRUMENTS
10
MORTGAGES
11
BANK LOANS N .E.C.
12
13
OTHER LOANS
TRADE DEBT, NET
14
PROPRI.ETORS • NET INVESTMEN
15

.q

6

�

9
10
II
12
13
14
15

I. 9
------------------------------------------------------- -- -- ----------------------------------NONF IN ANCIAL CORPORATE BUSINESS
----------------------------------------------------- ------------------------------- -----------

4
5
6
1
8

17

-

18
19
20
21
22
23
24
25

LIQU IO ASSETS
DEMAN 0 OEP. ANO CURR.
T !ME DEPOSITS
u.s. GOVT. SECURI Tl ES
OPEN-MKT. PAP ER
STATE ANO LOCAL OBLIG.
CONSUMER CREDIT
TRADE CREDIT
OTHER FINANC !AL ASSETS

26
27

NET INCREASE IN L !ABILITIES
CRED IT MKT. INSTRUMENTS

28
29

30

31
32
33
34
35
36
37
38

CORPORATE BONDS
CORPORATE STOCK
MORTGAGES
BANK LOANS N .l' .C.
OTHER LOANS
PROFIT TAX LUBILITY
TRADE DEBT
OTHER LIABILITIES
DISCREPANCY
MEMO- NET TRADE CREDIT
PROFITS TAX PAYMENTS


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

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8

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10
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12
13
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26. 6 16

.1
.1
•3
2. 8
3.1

-. 3
.5
.6
8. 3
1.8

5.6
-1.0
-.4
6.6
- .2
.1
•8
7. 7
2 .o

12. 8
12.l

lit. 7
10. l

23.0
11.5

14.0
11.3

20 .8
12 ·"

23. I
12.7

23. 2
12.lt

21.3
13.7

36.5
20. 5

39. 4
2 ... 9

33. 0
29.3

47. 3 26
31. 0 27

6.3
2.4
1.6
1.2
•5
-2.l
.6
2.2

5. 7
2.I
Z.9
-.4
-.2
-2.6
4.8
2.4

3.0
2.2
3.0
3 .5
-.3
2.4
5.5
3.6

3 .5
1.6
2. 5
1.8
I .9
-2.2
1.0
4.0

4.6
2.5
3.9
.1
.6
1.4
5.3
I.7

4.6
•6
4.5
3. 0

4.0
1.4
3.6
3.8
.9
.5
3.6
3.5

5. 4

.6
lt.6
5.2

3.9
-.3
4.9
3. 7
•2
1.9
5. 3
3. 7

3. 9
10. 6
.6
2. 2
9.1
4.6

10. 2
I. 2
"· 2
7. 9
1.4
.2
7. 8
6. 5

14. 7
2.3
4 .5
6.lt
1.4
-4.1
2.6
5.2

12. 9
-. 8
5. 8
9 .6
3. 6
3. 7
5.7
6.9

2.6
2.2
21.1

3.8
3.5
18.7

lt.8
2.2
18 .2

4.6
"· 3
2 l.6

4.2
4.2
10.0

,. .9
3.9
20.4

3. 8
2.8
20.4

6.9
4.5
23 .6

7. 2
5. 9
25. 8

8.o
3.5
30. 5

8 .2
6.2
32. 7

6. 9 36
9.2 37
32.0 38

- ·"

.

-2.2
It.I
- 3.1
I. 5
-.4
• Q

8.8
3 .8

10 . I
1.3
2. 2
I. A
4 .5
•4
I. 7
14. 8
.I

I7
18
19
20
21
22
23
24
25

28
29
30
31
32
33
34
35

FEBRUARY, 1970
FARIII BUSINESS

F411M B USI IIIESS
12

SECTOR STATEIIIENTS OF SAVI NG ANO INVESTIIIENT
I BILLIONS OF DCLLARSI

12

YEAR TOTALS, 1946-56
YEAR TOTALS, 1946-56
---·
---------·---------------------------------------------------------------------------------------------------------------1951
1948
1945
1947
1949
1946
1950
1956
1952
1955
l 'l53
1954
-------------·---------------------------------------------------------------------------------FARM BUSI NESS
---------------------------------·---------------------------------------------------------------

4

5

6

7
8
9

10
11

12

13
14
15
16
17
18
19

zo

21
22
23
H
25
26

. . . . .
. . . . .

.

14.9
.1
1.2
1.2

15.2
•1
1.6
1.6

17 .5

12.7

13. 5

15.8

15.0

13.0

12. 4

ll.4

ll.4

2.1
2.0

2.4
2. 3

2.7
2.6

3.l
3.1

1. 3

l.7

2.l

2 .4

2.7

3.2

3. 3
3.3
.1
3. 3

3. 5
3. 4
.l
3 .4

3.4
3. 4
.1
3. 4

3.7
3.b
.1
3. 7

3. 7
3 .6
.l
3.7

GROSS INVESTMENT
C A PITAL EXPENDITURES
PLANT ANO EQUIPMENT
RESIDENTIAL CONSTRUCTION
CHANGE IN INVENTORIES

l .3
2. 2
1.6
.5

1.7
1.6
2.6
.7
-1.8

2.1
6.0
3.4
.9
1.7

2.4
3.6
3.7
.8
-.9

2.7
5.3
3.7
.8
.8

3.2
5. 8
3. 8
.8
1.2

3. 3
5.2
3.5

3. 4
3.9
3. 7

1.0

-.6

3. 4
4. 6
3. 3
•7
.6

3.7
4.4
3. 3
.6
•5

3.7 7
3.4 8
3. l 9
• 7 10
-.4 11

NET FINAN. INVESTMENT
NET.INCR.IN FINAN. ASSETS
DEMAND OEP. AND CURRENCY
Ml SCELL ANEOUS ASSETS
INSURANCE RECEIVABLES
EQUITY IN S PON.AGS.121

-.9
1.9
1. 8
.l
.1

.1
1.2
1.1

-3.9
.1

-2 .6

-. 5

-1.1

- •l
.1
.1

-.1
.1
.1

-.l
.1
.1

-. 7
.1

.1
.1

-2.7
•3
.2
.l

-2.0

•l

-1.2
-.4
-.5
.1
.1

•3
-.l
-.2
.1
.1

12
13
14
15
16

2. 8
.4
.1
.3

1.1
•5
•2
.3

.8
.4
.3
.1

.

2.9
1.3
•6
.6
.1

•4
-.1
.5
-. 6

1.1

-.l
.1

2. 6
1.1
.5
.5
.1

2.0
.8
.6
.2

-.1

4 .0
•7
.2
.4
.l

18
19
20
21
22

.1

•2

-.4
.9
.8
-.1
.1
.1
.1

.1
2. 3

.2
.4

•3
l. 3

.4
1. 2

NET INCOME
NET SAVING 111
CAPITAL CONSUMPTION
NONCORPORATE
CORPORATE
GROSS SAVING
CURRENT SURP.

.

.

NET INCREASE IN LIABILITIES
CREDIT MARKET INSTRUMENTS
MORTGAGES
BANK LOANS N.E.C.
OTHER LOANS
U.S.GOVT •
FICB+BKS FOR COOPS
TRADE DEBT
PROPRIETOR NET INVE ST'4ENT

.1

.

.1
.3
3.0

.2
•2

..

.1

.

•8

.1
1.0

.8

.8

•2
-. 3

.5
•2
.1
.1
.l

-•2
•7

.l
.2

.1
.1
• Q

1.4
.8
.6
.l
.1
.2

-. 8

.

4
5
6

17

23

24

.1 25
-1.4 26

111 CORPORATE RETAINED PRCFITS.
121 SHARES IN FICB' S, BANKS FOR COOPS, AND LAND BANKS.

-------------------------------------------------------------------------------------NONFAIIM NON CORPORATE BUS !NESS
------------------------------------------------------------- ---- -----------------------------1

NET INCOME

25. 9

25. 0

27 .9

27.7

29. 5

32. 0

33.2

33. 7

B.8

36. 6

38. 0

l

2
3

CAPITAL CONSUM PTION
CURRENT SURP. : GROSS SOING

2.5
2. 5

3.2
3.2

3. 7
3 .7

4.3
4. 3

4 .7
4. 7

5.2
5.2

5.6
5 .6

5. 9
5.9

6. 2
1:. 2

6.4
6.4

7 .1
7.1

2
3

4

GROSS INVESTMENT
CAPITAL EXP ENO ITURES
Fl XED CAPITAL
PLANT + EQUIPMENT
MULT 1-FAMILY RESIO.
HOME CONSTRUCTION
CHANGE IN INVENTORIES

2. 5
4.6
4.2
3.6
.2
•4
.4

3.2
6 .o
6.0
5.0
•5
.5
.1

3. 7
6. 3
5.4
4.7
.7

4. 3
4. 5
5.0
3.9
.9
.1
- .5

4 .7
7.3
6. 2
4.7
l .4
.1
l.2

5.2
6.0
5. 5
5. 2
•7
-.4
.5

5. 6
5.2
5.3
4. 7
•5
.1
- •l

5. 9
6. l
5.9
5.3
•6
-. 1
•3

6.2
6.,.
6. t,
5. 5
•7

6.4
7 .9
7.3
6.6
.6
.2
.6

7. 1
7 .'I
7.7
7. 3
.6

4
5

NET FINANCIAL INVEST.
NET ACQUIS. OF FINAN. ASSET
DEMAND DEP. + CURRENCY
CONSUMER CREDIT
MISCELLANEOUS ASSETS
INSURANCE RECEIVABLES
EQUITY IN SPON. AGS.

-2. 1
.5

-2.9
.9
.4
•3
.2
.2

-2.7
•3
-.2
.4
.1
.1

-.2
•7
.4
•3

-2 .7
•8
.2
.5
.1
.l

1.5
1.0
•3
.2
.1

.4
•3

-. 2
•3
-•1
.2
•2
•2

-. 2
.• 5
.1
.2
.2

-1 •.5
.6
•3
•2
.2
.l

NET INCREASE IN LIABILITIES
CR EDIT MARKET INSTRUIIIENTS
MORTGAGES
HOME MORTGAGES
MULT 1-FAMIL Y
COMMERC IAL

2.6

3. 7
1.4
•8
.4
•3
.1

3.0
.5
.5

.

1.0
�7
•7
.1
.6

•5

.6
.3
.2
.1

•3
-.1
•3
.1

1.0
•q
•7
.4
•3
.1

2.1
1.7
•7
.l
.4
.l

.6
•2

.4
•3

-.3
•3

-.2
.2

.4
.4

•5

.5

• 3 24
• 3 25

•l
1.1

.3

.6
1.a

.2

-.1
2.0

1. 5
-1.0

26
• 7 27

5

6
7

a

9
10
11
12

13

14
15

lf>

17

18
19
20
21
22
23

24
25
26
27

BANK LOANS N.E.C.
OTHER LOANS
TRADE DEBT, NET
PROPRIETOR NET INVESTMENT


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

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•7

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- •2 "

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2.2
1.0
.4
-. 3
•7

-. 2

•3

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•2
•2

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.1
.1

-.1
1. 3

-.5
-. 7

.4
-.3

1.6
-1.5

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.1
.4

•4

-. :t

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7

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• 3 13
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.1 15
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18
19
20
21
22
23

FEBRUARY• 1970
FARN IIUSIN ESS

FARN BUSINESS

13

SECTOR STATEMENTS OF SAVING AND INVESTMENT
IBI LllONS OF DOLLARS I

---------------------------1957
1959
1960
1958
------------------

YEAR TOTALS, 1957-68

1
2
3
4
5
6

NET INCO"'E
NET SAVING 111
CAP! TAL CON SUM PT ION
NONCORPORATE
C ORPORATE
CURRENT SURP. • G ROSS SAVING

7
8

9

10

11

12
13
14
15

16

17
111

•

.

1961

FARN BUSINESS

•

•

•

l962

13

---------------------- YEAR TOTALS, 1957-68

1963

1964

1965

1966

1967
1968
----------------

------------------------------------------------7
14.6 l
13.1
12.1
• 14.8
• 16.5.3•l 14.-.
-.2
l
-. l 2
6.2 3
5. 7
4.3
4.5
4.7
5.0

.

11.3

13.4

11.4

12.0

12 .8

13.0

3.9
3.8
.1
3.9

4.0
3.9
.1
4.0

4.2
4 .1
•l
4.2

4.2
4 •l
•l
4.2

4.2
4.1
•1
4.2

4.2
.2
4 .3

4.3
.2
4.3

4.5
.2
4.6

4.8
.2
5.0

5. l
.2
5.3

5.5
.3
5.7

5.9
.3
6. 1

GROSS INVESTMENT
CAPITAL E XPENDITURES
PLANT ANO EQUIP"'ENT
RESIDENTIAL CONSTRUCT ION
CHANGE IN INVENTORIES

3.9
4.4
3.2
.7
.5

4.0
5.2
3. 7
.6
.8

4.2
4.4
3. 7
.6

•

4.2
4. l
3.3
.6
.2

4.2
4.4
3.5
.6
.3

4.3
5.0
3 .7
.6
•7

4.3
5. 7
4. 3
.6

4.6
4.8
4. 8
-.6

5.0
6.3
4.9
.5
l .o

5. 3
5.8
5.4
.5
-.2

5. 7
6.8
5.6
.6
.6

6.1 7
6.0 8
5.6 9
.5 10
-.1 11

NET FINAN. INVESTMENT
NET.INCR.IN FINAN. ASSETS
OENANO DEP. AND C�RENCY
"'ISCELLANEOUS ASSETS
INSURANCE RECEIVABLES
EQUITY IN SPON.AGS.I 21

-.6

-1.2
.4
•3
.1
•l

-.2
-.6
-.7
•l
•l

•1
-.3
-.4
.1
•1

-.2
•l

- .7
•1
•l

-1.4

-. l
.4
•2
.2
.2

-l.4
.3
•l
.2
.1

-.5
.2

-1.l
.4
•l
•3
.2

.1 12
.3 13
14
.3 15
.2 16
• l 17

-.4
1.9
1.0
.7
.2

-.4
1.0
.7
.2
.1

.8
2 .3
1.3

1.4
2.6
1.6
.6
.l
.3

.5
2.6
2.1
.3
.2
•l
•l

l.6
3. 3
2. 2
.7
.3
•l
.3

.1

•• l

.3
1.6
l. l
.2
.3
.1
.1

3.5
2. l
.9
.4
.4

1. 5
3.5
2.l
.7
.6
.2
.5

.2
-1.6

.3
-1.5

.6
-2. l

.6
-1.B

.3
-2.4

•7
-2. 3

.9
-3.6

.B
-2.B

•

.

-. l
•1
•l

19
20
21
22
23
24

NET INCREASE IN L IAB IL ITIES
CREDIT MARKET INSTRU,.ENTS
"'ORT GAGES
BANK LOANS N.E.C.
OTHER LOANS
U.S.GOVT.
FIC8+BKS FOR COOPS

.5
1.1
.6
.4
•l
-.l
.2

1.6
1.4
.7
.4
•2

25
26

TRAOE DEBT
PROPRIETOR NET INVE ST,.ENT

.2
-.B

.4
-.2

•
.2

.

•
.2

.4
-2.B

.1
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•.

.a

.2
.1
.2

.a

•

-.2
.2
•l

.3

.5

.2
.2

•

•

•

4
5
6

•

.3
2.9
2. l
.4
.4
.2
.2

18
19
20
21
22
23
24

.8 25
-3.4 26

Ill CORPORATE RETAINED PROFITS.

121 SHARES IN FICB' S, BANKS FOR COOPS, AND UNO BANKS.

--------------------------------------------------------------------

-------------

NONFAR"' NONCOR PORATE BUSINESS

l

NET INCOME

39.7

40. 3

42. l

41.2

42.l'

44.5

45.2

47.9

50. 7

53. 8

56.0

58. 2

2

CAPITAL CONSU,.PT ION
CURRENT SURP. 2 GROSS SAVING

l'.6
7.6

7.7
7. 8

8.1
B. l

B. 3
8 .6

8.4
8. 3

8 .8
8. 8

9.2
9.2

9.8
9.8

10.2
10. 2

10.1
11.2

11.3
11.3

11.8
11.8

4
5
6
7
8

GROSS INVESTMENT
CAP ITAL EXP END ITUR ES
Fl XEO CAPITAL
PLANT + EQUIPMENT
MULTI-FAMILY RESIO.
HOME CONSTRUCT ION
CHANGE IN INVENTORIES

7.6
l'. 6
7.4
6. 7
.8
-.1
.2

7.8
8. 0
7. 8
6.4
1.1
.3
•2

8. l
9 .3
8. 7
6.9
1.6
•1
.6

8.6
8.6
8 .3
7.0
1.8
-.4
.3

8. 3
9.4
9.1
6.6
2. 5
.1
.2

8.8
11.4
10.8
7.1
3.7

9.2
12.5
11.8
1.0
4.6
.2
•7

9.8
13.4
12.8
l'.6
5.4
- .2
.6

10. 2
15.0
14. 2
8.6
5. 5
•l

11.3
14.3
14.0
8. 7
4.5

.1

11.2
14.1
13.5
9.1
5. l
-. 6
.6

11.8 4
16.3 5
15.4 6
9.3 7
5.9 8
.2 9
.9 10

11
12
13
14
15
16

-.1
1.2
.8
.2
.2
•2

-.2
1.4
1. 3

-1.2
-.5
-.9
.2
.2
.2

•l
- .3
.3
•l
.1

-1.0
.5
.1
.2
.2
•2

-2.6
.5

-3.4

.5

-3. 5
.6

-4. 7
•7

-2.9
.9

-3.0
.9

.4
.1

•3
.2
.2

.4
•3
.2

.4
.3
.3

.5

17

NET FJNANC JAL INVEST.
NET ACQUIS. OF FINAN. ASSET
DEMAND DEP.
CURR ENCY
CONSUMER CREDIT
MISCELLANEOUS ASSETS
INSURANCE RECEIVABLES
EQUITY IN SPON. AGS.

.4

.5
.4
.4

18
19
20
21
22
23

NET INCREASE IN LIABILIHES
CREDIT MARKET INSTRUMENTS
MORTGAGES
HOME MORTGA_GES
MULTJ-FA"'IL Y
COMMERCIAL

1.2
.9
•3
-.1
.2
.2

1.6
1.6
1. 2
.2
.8
.2

2 .3
1.2
.1
.9
.2

-.3
.9
.2

1.5
2. 3
2.0
.1
1.5
•3

3.2
3.4
2.2
l .8
.4

3.9
4.5
2.8
.2
2.2
.4

4. 2
5 .4
3.4
-.2
3.3
.3

5.4
5. 8
3. 2
.1
2. 8
.3

3. 8
5.5
2.4
-.5
2.4
.4

3.9
5.0
3. 7
.6
2 .8
.4

5. 7
5. 2
3.4
•l
2. 7
.5

.2
.2

.3
.8

.3
•6

.4

.5
.7

.6
1.0

.5
1.5

1.0
1.6

1. 3
1.8

.6
.7

.7 24
1. 2 25

-.5
-.7

-.1

-1.3
-.4

.6
-1.8

.4 26

3

9

10

24
25
26
27

.

--------

BANK LOANS N.E.C.
OTHER LOANS
TRADE DEBT, NET
PROPRIETOR NET INVESTMENT


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

•
.6

.6
;._3

.

•l
.1

•

-.7
.7

.

.7

•2
-1.9

.
.

.1
1.7
.8

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-1.6

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.5

-1.3

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-.3

-.2
-.3

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-4. 5 11
1.2 12
13
.7 14
.5 15
.5 16

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17

18
19
20
21
22
23

27

�EBRUARY, 1970
GOVERNMENTS

GOVERNM ENTS

14

14

SEC TOR STATEMENTS OF SAVI NG AND INVESTMENT
(BILLIONS OF DOLLARSI

YEAR TOTALS, 1946-56

YEAII TOTALS, l9't6-56
1956
1955
---------------------------------------------------------------------------------------------------------------------------------------------------------1945

19't6

l9't7

1948

1949

1950

1951

1952

1953

l95't

22. 9
4. 3
24.6
2.4
•l
l.3
-1.1

24.2
4. 6
27.4
2. 5
-l. l
1. 5
-2.6

26.5
4.9
30.1
2.6
-1.3
1.3
-2.6

29.:;
5 .3
33.0
2.6
-.9
1.4
-2.3

1
2
3
4
5
6
7

-1. 5
l.6
.5
.4
.1
l.2
1.0
1.0
-.l
.l
.2
.1
.1
-.l

-2. l

-4.2
1. 7
.2
-.3
.5
1. 6
1. 2
1.2

-4.6

•.1
.1

.2
.2
.1
.1
-.1

-3.6
.4
-.4
-.4
•
.-7
•7
.6
•
•
•1
-.1
.2
•

B
9
10
11
12
13
14
15
16
17
18
19
20
21

3.2
3.1
2.7
•2
2. 6
•3
.1

4. 2
4.1
4.4
.1
4. 3
-.4
.1

5.9
5. 7
6. 0
.1
5.9
-.3
.2

4.0
3 .9
3. 8
•l
3. 7
•l
.1

22
23
24
25
26
27
28

.5

1.0

STATE AND LOCAL GOVERNMENTS - GENERAL FUNDS

l
2
3
4
5
6
7

TAX RECEIPTS
SOC.INS. + GR AN TS II. ECD •
PURCH.OF GOODS + SERVICES
NET INTEREST + TRANSFERS PAID
NET SURPLUS, NIA BASIS
LESS-RET IREl'IENT CR. TO HH.
EQUALS-GROSS SAVING

8 NET FINANCIAL INVESTMENT
NE
s
:o:��-�:p����
ENCY
CURR. AND DEMAND DEPOSIT
ll
TIME DEPOSITS
12
CREDIT MKT. INSTRUMENTS
13
U.S.GOVT.SECURITIES
14
DIRECT
15
u.s.G. AGENCY SEC.
16
STATE + LOCAL SEC.
l7
OTHER CR.MKT.INSTRUMENTS
18
CORPORATE BONDS
19
HOME MORTGAGES
20
TAX RECEIVABLES
2l

·: ��!!

1i

22
23
24
25
26
27
ZB

NET !NCR.IN LIABILITIES
CREDIT MKT. BORROWING
STATE + LOCAL OBL IG.
SHORT-TERM
OTHER
U.S.GOVT. LOANS
TRADE DEBT

l l.3
1.6
9. 8
l .2
1.9
•3
l.6

13.0
Z.3
12.6
l. 7
1.0
•3
•7

14.9
2. 7
15.0
2.4
.1
.4
-.3

16. 3
3.0
17.7
2.3
-.7
.5
-1.3

11 .0
3.3
19.5
2.8
-1.2
•7
-l.9

19.6
3. 7
21.5
2.2
-.4
•7
-l. 2

•2
.9
•7
.2
-. 7
-.4
-.4

l .6
.8
,6
•2
•7
•7
•7

-l. 0
l. 3
•7
.4
•3
.6
.4
.4

-1.9
.7
•3
.2
.2
•5
•1
.l

-2.0
l .5
•5
.4
.1
.9
.5
.5

-1. l
l. 3
.5
.3
.2
•7
.4
.4

.

.

.

•

-.3

.3
•l

.l
-.l

.1
.2

.2

2.4
2. 2
2.2
.2
2. 0
.1
.1

2.6
2. 5
2. 6
.2
2.4
-.1
.l

3 .5
3.4
3. 3
•4
2 .9
.l
.l

.7

•7

.6

.1

..
.
•

1.6
l.4
1.4
•2

•l

1.z

.1
.1

29 DISCREPANCY

. .
. .

.3
.1

.l
.2

.z

..

.l
.1
.l
•l

.3
.2
.l
.1

2.4
2.4
2.2
.3
1.9
.3

.

21.2
4.0
22.9
2.4
1.0
-l.l

2.t

•7
.4
.3
1.4
1.1
1.1

.. .
.2

.1

-.3
-.2
-.1
.8
.7
.6

•

.1
.1
.2

.

5.3
5.2
5.2

•
.2

5.l

2.0

1. 3 29

EMPLOYEE RETIREMENT FUNDS ARE IN I NSURANCE SECTOR.
U.S. GOVERNMENT
TOTAL RECEIPTS, NIA BASIS
PERSONAL TAXES
CORP. PROF ITS TAX ACCRUALS
INCi RECT TAXES
INSURANCE RECEIPTS

39.l
17. 2
8.6
7. 8
5. 5

43. 2
19.6
10 .7
7.8
5.1

43. 3
19.0
11.0
8 .o
4 .5

38 .9
16.l
9. 8
0.0
4.9

49.9
18.1
17.0
8.9
5.9

64.0
26.1
21.5
9.4
7. l

67. 2
31. 0
18. 5
10.3
7.4

70.0
32. 2
1 9. 5
10.9
7.4

63.8
29.0
17.0
9.7
e.1

72.1
31.4
20.6
l O. 7
9.3

77.6
35.2
20 .6
ll.2
10. 6

1
2
3
4
5

6
7
8
9
10
11
12
b

TOTAL EXPENDITURES, NU BASIS
GOODS ANO SERVICES
GRANTS ANO OONATIONS
NET INTEREST
IN SURAN CE BENEFITS
NET SURPLUS, NIA BAS IS
LESS-INSURANCE CREDITS TO HH
EQUALS-GROSS SAVING

35.6
1 7. 2
11.8
4. 2
2.3
3. 5
1. 5
2.0

29.9
12.5
u.o
4.3
2.l
13.3
1.4
ll.9

34.9
16 .5
11.9
4.3
2. 2
8 .4
1.0
7.4

41.3
20. l
13.3
4.4
3.5
-2.4
1.1
-3.6

40.8
18.4
ll.8
4.5
6. l
9.1
1.1
8 .o

57 .8
37. 7
ll.l
4. 7
4.4
6.2
.9
5.4

71.0
51 .0
9. 7
4. 7
4 .0
-3.8
1.0
-4. 8

77.0
57.0
9.5
4.9
5. 6
-7.0
.6
-7.6

69. 7
47.4
9. 8
5.0
7. 5
-5. 9
•1
-6.0

68.l
44.1
u.o
4.9
8.0
4.0
.5
3.5

71.9
45.6
12. 0
5.3
9 .o
5.7
1. 2
4.6

6
7
8
9
10
11
12
13

14
15
16
17
18
19
20

1.4
-22.5
-22.7
2. 8

14.2
7.5
-.6
4.3

8 .8
3. 8
l. 2
1.,.

-3.3
-.l
.3
l. 3

7. l
7.9
- .2
•7

5.2
7.3
.1
1.3

-4.5
1.2
2. 4
1.5

-7 .8
-.6
-1. 5
.6

-5.4
-3.3
-.3
-.3

3.6
2 .0
-.3
.0

-.3
3.2

-.1
4.4

1.3

.5
.0

.3
.4

.6
•7

•5
1.0

.4
•2

.1
-.4

•3
.5

3.6
-. 5
-.3
•7
•
•
•7

14
15
16
17
18
19
20

21
22

NET FINAN. IN VESTMENT
NET ACQUIS. Of FINAN. ASSET
DEMAND DEPOSITS + CURRENC
CREDIT MARKET INSTRUMENTS
AGENCY SECURITIES
l'IORTGAGES
OTHER LOANS
EXCESS OF TAX ACCRUALS
OVER RECEIPTS
OTHER FINANCIAL ASSETS

-1.4
-1.2

2.3
1.4

.9
•3

-2. 1
.4

1..2
.1

4.9
1.0

-3.6
.9

.5
-.1

-2. 9
.3

2.3

-2.l 21
1. 3 22

23
24
25
26
27
28
29

NET INCREASE IN L !ABILITIES
U.S. GOVT. SECURITIES
SAVINGS BONDS
DIRECT EXC. SVGS. BOS.
BUDGET AGENCY SEC.
LIFE+RETIREMENT RESERVES
OTHER LIABILITIES

-23.8
-23.4
l. 2
-24.5
-.2
1. 5
-l.9

-6.8
-7.2
2.l
-9.3

.

3. 2
2.6
1 .5
1. 0
.1
l.1
-.5

•7
-1.2
.3
-.0
-.6
1.1
.0

2.1
-.4
-.5
•2
-.1
.9
1.6

5 .6
4.8
.1
4.4
.3
1.0
-.2

7. 3

1.4
-1.0

-5.0
-5.7
1.6
-0. 2
.8
1.0
-.3

.2
5.2
1.6
.6
-.4

2.l
2.4
.6
1. 7
.1
.1
-.4

-.0
-.0
.3
-.3
-. 7
•5
-.5

_,..1
-5. 8
-.1
-5.4
-.3
1. 2
•5

30
31

DJ SCREPANCY 113-141
MEMO- CORP. TAX RECEIPTS, NET

.6
10.0

-2 .4
B.3

-1.4
10.9

-.3
11.9

.8
9.8

.2
16.6

-.4
22.2

•2
18.9

-. 6
19.9

-.1
18.4

l
2
3
4
5

. .

•

1.0

. .

23
24
25
26
27
28
29

1.0 30
22. B 31

-----------------------------------------------------------------··

FEDERALLY SPONSORED CREDIT AGENCIES
1 CURRENT SURPLUS

4
5
6
7
8
9
10

NET INCREASE IN ASSETS
CREDIT MKT. INTRUMENTS
u.s.GOvT. sec.
RESIDENTIAL MORTGAGES
FARM MORTGAGES
OTHER LOANS
TO COOPS IBC I
TO FARMERS IFICBI
TO S + L'S (FHLBI

11 NET INCREASE IN LIABILITIES
CRECIT MIO. INSTR.
12
AGENCY SECURITIES
13
14
u .s.GOVT. LOANS
MISCEL LANEOUS LIABILITIES
15
16 DISCPEPANCY

.

.1
.1

.2
.2

.1

.

-.1
.3
•1
.1
.1

.1
.3
•3

•2
.1
.1

-.1
•2

-.2

.. .. .. .
.

.3
.4
•l

•3
.4
.1

.2
.1
.1

•2
.1
.1

.4
•3
•3

.1

•1
-.1

.1

-.3
•1

.1
-.1

-.1

.5

.1
.3

.1
.1

-.1

.1
.4

.2
.1

-.1
-.1

.4
.4
.4

•3
.2
.2

.1

•2

.4

•l

.1

•2

.4

•3
•3
.3

.1

1.0
1. 0
.1
.1
•2
•6

. . .

.2

THIS GROUP CONSISTS OF FEDERAL H'.JME LOAN BANKS, FEDERAL NATIONAL l'IORTGAGE
ASSOCl4T ION, FEDERAL INTERMEDIATE CREDIT BANKS, BANKS FOR COOPERATIVES,
ANO FEDERAL LANO BANKS. THESE AGENCIES ARE PRIVATELY OWNED AND ARE
EXCLUDED FROM U.S. GOVERNMENT BUDGET ACCOUNTS AS OF 1969 ANO FROM
U.S. GOVERNMENT FIGURES IN THESE ACCOUNTS FOR ALL YEARS.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.5
•5
-.1

.6

.9
l .o
.9
.1
-. l

1.0
l. 0
•3 4
•6 5
•2 6
•
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.1 9
-.2 L 0
1.0
•7
.4
•3
•2
•

11
12
13
14
15
16

FEBRUARY, l970
GOVERNMENTS

GOVERNMENTS

15

sEcwa STATEMENTS OF SAVI NG AND INVESTMENT
I BILL IONS OF DOLLARS I

15

YEAR TOTALS, 1957-68
--------------------------------------------------------------------------------------------------------------------------------1957
1958
l959
1967
196b
1961
l966
1962
1963
1965
1968
1964
----------------------------------------------------STATE ANO LOCAL GOVERNMENTS - GENERAL FUNOS
-------------------------------------------- ------- -- -------------------------------

YEAR TOTALS, 1957-68

1
2
3
4
5
6
7

TAX RECEIPTS
SOC.INS.+ G RANTS RECD.
PURCH.OF oooos + SERVICES
NET INTEREST ♦ TRANSFERS PAID
NET SURPLUS, NIA BASIS
LESS-RETIREMENT CR. TO HH.
EQUALS-GROSS SAVING

3l.7

8 NET F INANCI Al INVESTMENT
NET ACQ.OF FINAN.ASSETS

9
10
11

12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28

33.5
0.1
lt0.6
3.4
-2.3
1. 5
-3. 8

36.5
9.6
43. 3
3.5
-.8
2.0
-2 .8

40.3
9.5
46.1
3.5
.2
2. 3
-2. 1

43.2
10.4
50.2
3.9
-.5
2.5
-3.0

47.l
11.5
53 .7
3.9
.9
2.5
-1.6

50.5
12.9
58 .2
4.0
l .2
2.4
- 1.2

54.9
14.5
63. 5
4.3
1.7
2. 8
- 1.1

59.8
15.6
70. l
lt.4
1.0
3.3
-2.4

65.8
19.4
79. 0
4. 9
1. 3
4.0
-2. 7

71.5
21. 5
89 .3
5.7
-2. 0
4.6
-6.6

81.3
24. 9
100. 7
6.9
-1.5
4. 3
-5.7

-3. 8
1.0
.5
.1
.4
.6
•3
.3

-4. 8
1.1
.7
-.1

-5.3
l. l
- .3
•l
-.4
1.3
1.l
1.0

-3.6
2.0

-2.e
3.l
1.9
.9
1.0
l .2
.e
.e

-2.3
4.1
2.8
1.2
1.6
l.l
•3
.3

.1
.2

•1
.3
.3

l.l
1.1

1.6
1. 5

-.1

-.1

-.2
1.0
l .o
.1
.2

-5.6
5. l
4.3
1.1
3. 2
•7
.1
-. 8
•8

.6
-.l
•7

-.2
.6
.5
.1
.1

-5.2
3. 2
2 .o
-.4
2.4
1.2
-.3
-.9
.6

.5
.6
-.1

-3.1
4.9
2. 2
-. 2
2.4
2. 5
1.9
1. 3
.6
-. l
.6
•7

1.2
-.1
1.3
3.4
2.4
2. 2
•l

.2

-2.2
4.l
3.0
1 .2
1. 7
.9
-.l
- .2
.1
-.l
1.1
l. l

-2.1

- .6
1.4
l .2
.6
.6
.1

-4.2
l .5
.6
-.3
.9
.8
.2
.1
•l

.2

.l

.2

.6
.4
•2
.l

8
9
10
11
12
13
14
15
16
17
18
19
20
21

4. 8
,t,.6

5.9

5 .5
5.4
5. 2
.2
5.0
.2
.1

s. 7
5 .5
5.2
.2
5.0
.2
.2

6.0
5.8
5 .3
•2
5.1
.5
.1

6.4
6.1
5.9
.5
5.5
.2
.2

6.2
6.0
5. 7
.6
5.2
•3
•3

8.0
7.6
7.3
.6
6.7
.3
.4

6. 9
6.4
5.7
.7
5.1
.6
.5

8.4
7.9
7.7
1.7
6.l
•2
.5

10.7
10.2
9. 9
1.6
8. 3
.3
.5

22
23
24
25
26
27
28

1 .5

1. 2

1.2

1.0

1.1

•7

-.7

-1.4

6.5

36.6
2. 9
-1.4
l.6
-3.0

TOTAL DEPDS ITS + CURRENCY
CURR. AND OEMAND DEPOSIT
TIME DEPOSITS
CREDIT MKT. INSTRUMENTS
U.S .GOVT.SECURITIES
DIRECT
u.s.G. AGENCY SEC.
STATE ♦ LOCAL SEC.
OTHER CR.MKT • INSTRUMENTS
CORPORATE BON OS
HOME MORTGAGES
TAX RECEIVABLES

NET !NCR.IN LIABILITIES
CREDIT MKT. BORROWING
STATE + LOCAL OBLIG.
SHORT-TERM
OTHER
U.S.GDVT. LOANS
TRADE DEBT

29 DISCREPANCY

. .

•
.2

.B

.4
-.l
-.1

.B

.•. .

.

.3
•l

"'·"'
.2

5.7
5. 5

4.2
.2
.2

5.1
•2
•2

6.4
6. 3
6.1
.4
5.7
.2
•1

.8

.9

2. 5

·"'

•

.

.

.

4.8

.
.

.
.

.

4
5

-. 2 29

---------------------------------------------------------------------------u.s. GOVERNMENT
-----------------------------------------------------------------------------------

EMPLOYEE RETIREMENT FUNDS ARE IN INSURANCE SEC TOR.

4
5

TOTAL RECEIPTS,/ NIA BASIS
PERSONAL TAXES
CORP. PROFITS 'TAX ACCRUALS
INDIRECT l'AXES
INSURANCE RECEIPTS

6
7
8
9
10
11
12
13

TOTAL EXPENDITURES, NIA BASIS
GOODS AND SERVICES
GRANTS AND DONATIONS
NET INTEREST
INSURANCE BENEFITS
NET SURPLUS, NIA BASIS
LESS-INSURANCE CREDITS TO Hlj
EQUALS-GROSS SAVING

79.6
49.5
13.l
5.7
11.2
2.1
•5
l.5

88. 9
53.6
14.9
5.6
tt,.8
-10.2
1.0
-11.2

91.0
53.7
15.6
15.3
-1.2
1.0
-2.2

93 .o
53.5
15.7
7. l
16.8
3. 5
1.0
2 .5

1"
15
16
17
18
19
20

l.2
-.6
.1
.6

-11.1
-.8
.3
1. 5

-2. 7
,t,.9
•7
l. 8

1. 7
.9
l .O
1 .o

•3
.3

.4
1.1

1.3
.5

.2
.8

1. 2

.1
1.9

21
22

NET FINAN. INVESTMENT
NET ACQUIS. OF FINAN. ASSET
DEMAND DEPOSITS ♦ CURRENC
CREDIT MARKE-T INSTRUMENTS
AGENCY SECURITIES
MORTGAGES
OTHER LOANS
EXCESS OF TAX ACCRUALS
OVER RECEIPTS
OTHER FINANCIAL ASSETS

-2.3
.9

-2• .,,
-.2

2.4

-1.4
.3

.7
.7

.8
-.1

1.s
1.0

l.1
.l

1.2
•5

-.7
1.3

-lt.6
1.8

23
24
25
26
27
28
29

NET INCREASE IN LIABILITIES
u.s. GOVT• SECURITIES
SAVINGS BONDS
DIRECT exc. SVGS. BOS.
BUDGET AGENCY sec.
L IFE+RETIREME NT RE SERVES
OTHER LIABILITIES

-l.9
-2.2
-1. 9
-. 7

10.3
9. 3
-.5
9.5
1.0

-. 7
-2.1
- .3
-1 .9
•l
1. 0
•3

8 ·"'

.5
-.1

7.6
7.1
-1.8
9.2
-.3
1.0
- .s

5.9
.6
1 .o
.1

8 .3
7 .0
.4
5. 8
.s
1.1
.2

4.9
4.0
1.2
2.9
-.l
1. 3
-.3

7.3
6.4
.9
4.5
1.0
1.4
- .5

3. 8
1. 7
•6
•7
.4
1.4
.7

5.5
3.5
.6
1. 8
1. 2
1.4
.6

15.3
13.0
.9
8.o
4.1
1.4
.9

30
31

DISCREPANCY 113-141
MEMO- CORP. TAX RECEIPTS, NE T

.3
22.4

-.1
20.4

.4
20.0

.8
23.2

.5
21.0

-.3
21.9

22.8

-1.6
25. 3

.6

-1.5

-1.3

•

•

.1

.1

.l

.1

.1

.1

.1

2 NET INCREASE IN ASSETS
CREDIT MKT• I NTRUMENTS
3
4
U.S.GQVT. SEC.
RESIDENTIAL MORTGAGES
5
6
FARM MORTGAGES
OTHER LOANS
7
TO COOPS I BC I
8
9
TO FARMERS (FICBI
TO S + L•S IFHLBI
10

1.4
1.3
-.1
1.0
.2
.2

.3
.3
.1
-.3
.2
.3
.1
.2

2.3
2.2
•1
•7
.3
1.2
.1
.2
.8

1.2
1.2
•l
•9
•2

1.1
1.0
-.1

•
•.1

l .7
l .6
.4

1.5
l.6

.2
1 .o

•7

.2
.8

2. 3
2.2
.1
.5
.6
1.0
.1
•3
•7

5.3
5.1
l. 0
1.9
.7
1.6
•2
.4
.9

-.1
-.l

.3
.9

•7
•7
-.4
-.l

11 NET I NC REASE IN LIABILITIES

1. 3
l.1
1.4
-.3
.2

.3
•l
•1

2�3
2.3
2.2
.1

1.2
.6

1.1
•7
.6

1.6
1.5
l.5

1.4
i.4
1.5

•.4

•l

-.1

2.2
2.3
2. l
•2

5. 2
"· 8
5.1
-.2

81.6
37.4
20.2
11.8
12.2

78.7
36. 8
18. 0
11.5
12.4

89.7
39.9
22.5
12.5
14.8

96.5
43.6
21.7
13.5
17.7

98.3
44.7
21.8
13.6
18.2

106.5
48.6
22.7
14.6
20.5

114.5
51.5
2,t,.6
15.3
23.l

115.0
48.6
26.4
16.l
23.8

124.7
53. 8
29.3
16. 5
25. l

142.5
61.7
32.l
15. 7
33.0

151.1
67.5
30.6
16.3
36.7

176.3
79.5
38. 3
18.0
40.5

l
2
3

102.1
57.4
18. 3
6.6
19.8
-3.8
1.0
-4.8

110.3
63.4
19.4
7.2
20.3
-3.8
l.1
-4.9

113.9
64.2
20.5
7.7
21.3
•7
1. 3

118. l
65. 2
22.8
8.3
21. 8
-3.0
1.4
-4.4

123.5
66.9
24. 2
8.7
23.7
1. 2
1.4
-.2

142. 8
77. 8
29. 0
9. 5
26.4
-.2
1.4
-1.6

163.5
90.7
30.8
10.0
32.0
-12.4
1.4
-13.8

181. 5
99.5
33. 5
11.6
36.9
-5. 2
1. 3
-6. 5

6
7
8
9
10

-5.4
3.0

•
1.6
•.4

-4.6
3 .7
.9
2.0

-1.0
3.9
-.4
1. 5

-2. 8
4.5
.6
2. 8

-.8
3.0
-1.4
2. 8

-.4
1.9

- •1
2.9

- •l
2.9

-.l
5.4
-.1
lt.9
1.3
•8
2.8

-12.5
2 .8
1.0
4.6
- •1
.9
3. 8

-6. 3
9.3
-1. 7
5. 2
.1
1.1
3. 9

•

.4

•

.4

6.4

.

•

•

1.2

.8

-.6

. . . .
·"'

,,

5

11

12
l3

14
15
16
17

18
19
20

3. 3 21
2 .5 22
15.6
13.4
.5
9. 8
3. 0
l. 3
.9

23
24
25
26
27
28
29

-.2 30

32. 8
28. l
35.1
35 .o 31
-------------------------FEDERALLY SPONSORED CREOIT AGENCIES
---------------------------------------------------------------------------------------------

l CURRENT SURPLUS

CREDIT MKT. INSTR•
AGENCY SECURITIES
u.s.GOVT. LOANS
14
MISCELLANEOUS LIABILITIES
15
16 DISCREPANCY
12
13

.

.2

•

•2

•

.1
-.2

.1

-. 1
.6

•l

THIS GROUP CONSISTS OF FEDERAL H Oii: LOAN BANKS, FEDERAL NATIONAL IIORTGAGE
ASSOCIATION, FEDEII.AL INTERMEDIATE CREDIT BANKS, BANKS FOR COOPERATIVES,
AND FEDERAL LAND BANKS. THESE AGENCIES ARE PRIVATELY OWNED AND ARE
EXCLUDED FROM U.S. GOVERNMENT BUOGE T ACCOUNTS AS OF 1969 AND FROM
u.s. GOVERNMENT FIGURES IN THESE ACCOUNTS FOR All YEARS.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.
.

.

_,.

-.8
.3
1.7
.1
.3
1. 3

-. l

·"
.8
•l

.1
.5

•7
.4
•3
•1
•3

.4

.1

.

l.l
•7
-1 .8
.2
.5
-2. 5
-.2
-.6
- .6
-.1
.5

.1

l

3. 2 2
3.2 3
- •1 4
1.6 5
.5 6
1.2 7
.1 8
.2 9
.9 10
3.2
3.5
3. 2
•2
-.3

11
12
13
14
15
.1 16

Fl!IIRUAAY, 1970
HNKJNG SYSTEN

BANKING SY STEN
SECTOR STATEMENTS OF SAVI NG AND INVESTMENT
I Bl lll ONS OF OOLLARSI

16
YEAR TOTALS, 1946-56

-----------------

YEAR TOTALS, 1946-56
------------------------------------------------------------------1949
1951
1954
1955
1950
1952
1956
1953
---------------------------------------------------MONET ARY AUTHORITIES
--------------------------------------------------------------

1946
1947
1948
----------------------1945

1
2
3

4
5
6

1
8

9

10

11

12

13
14

15

.1

CURRENT SURPLUS
NET ACQ. O F FINAN. ASSETS
GOLD ANO FOREIGN EXCHANGE
TREASURY CURRENCY
F.R. FLOAT
F.R. LOANS TO DOMESTIC BANK
CREDIT MKT • INSTRUMENTS
u.s. GOVT. SECURITIES
NET INCREASE IN l lAB ll lTIES
MEMBER BANK RESER YES
VAULT CASH OF COML. BANKS
DEMAND OEPOSITS A NO CURRENCY
DUE m u.s. GOVERNMENT
DUE TO REST O F THE WORLD
CURRENCY OUTS IDE BANKS
OTHER

.

-.3
.5
.2
-.2

.1

.•

1 .o
1.9

. ..

2.4
1.5

-4.4
.2

1.3
-1.5
.8
.1
1.8
1.9

-. 8

-.9

-.9
-. 8

.9
.8

-'t.6
-4.4

-.4
•2
.2

1.0
1.a
.2

2.4
2.6
-.2

-4.4
-3.9

-.5

.2
.2
-.4

.

-.3
.1
-. 7
•3

-.6

-.4

.3
-.1

16

-.4

-.3
.2

.

2.9

.
. . .

3.0
3.0

1.4
.5
•1
-.2
.1
.9
.9

1. 3
1.1
.2

2. 8
2.4
.5

1.4
-.l
.1

-•l
.2
-. 2

-1. 3
-1.3

.6
.1
.2

-.2
-.2

-.4
-.1
.9
-.5

.1
1.2
.1

-.6
- .l
.6

.3
.1
-.2

-.2
-.1

•

.

.1
- .2

-1 .2
.1

- .1
1. 2
1.2

-1. 2
-.3
.1
-.l
-.9
-1.0

.6

•8
.1
-.3
-.l

.4

.1

l

.5
.3
.1

2

.1

-.1
.2
.1

3

4

5
6

1
8

.5 9
.1 10
.6 11
.1
-.1
.1
-.2

12
13
H
15

.1
.4
-----------------------------------------------------------------------------------------------COMMERCI Al BANKS
-------------------------------------------------------------------------------------------------

1

CURRENT SURPLUS

.6

.6

•7

.7

.8

.9

.8

.9

•8

1.2

1 .5

l

2
3

NET ACQ. OF FINAN. ASSETS
TOTAL LOANS ANO INVESTMENTS
CREDIT MARKET INSTRUMENTS
u. s. GOVT SECURITIES
DIRECT
AGENCY ISSUES
LOAN PARTIC. CTFS.

-10.6
-10.0
-6. 3
-15.9
-15. 8
.2
-.2

3.5
2.l
3.2
-5.5
-5.6
.1

.6
-2.3
-2.6
-5 .7
-6.6

2.l
5.8
5. 5
4. 5
4.4

7 .9
6 .3
6.l
-5.2
-5.0
-.6

4.4
4. 3
3.9
1.8
•3
-. l
1. 6

.1

5.4
5.l
4.5
-8.0
-7.2
.5
-1.3

6.1
5. l
5.9
-2. 9
-2. 5
-. 2

2
3

.1

9.3
10.4
9.8
2.3
l. �
.1
.3

9.2
10.2
9. 3
5.6
5.5

.8

9.0
5 .9
6.2
-. 7
-.5
-.1
-.1

OTHER SECURITIES ♦ MTG.
STATE AND LOCAL DBLIG
CORPORATE 80NOS
HOME MORTGAGES
OTHER MORTGAGES

2.9
.4

3.0
.9

l.5
.4
1.1
.3

.5

.8
•3

2. 0
1. 0
-.1
1.0
.2

1.6
.6

1. 7
•5

3. 7
1.6
.2
1.5

2.l
1.1

1. 7
.8

l.8
.9
•2
•5
.2

3. 3
l. 8
-.2
1.3
•4

2.3
.1
-.2
l. 8
.6

1. 5
.2
-.4
l.2
•5

OTHER CR. Exc. SECURITY
CONSUMER CR EOIT
BANK LOANS N.E.C.
OPE!+-MARKET PAPER
SECURITY CREOIT
VAULT CASH ♦ MEM.BK .RES.
MISC. ASSETS

6. 7
1. 2
5. 3
•2
-3. 7

1.6
1.0
.6

-. 8
1.0
-1 .8
.l
•3
-3.9
.1

7.6
1. 6
5.8
.2
.2
1.3
•3

4. 8
.1
4. 3
.4
-.3
2.9
•2

5 .5
l.9
3.4
.2
.6
-.1
-1.1

•5
1. 5
-1. 0

.4

.4

-1.0

5 .7
1.3
4.3
.1
-1.1
1.9
-.5

.9
-1. 3
.4

l O.3
2. 3
8. 2
-.3
.6
•3
-.1

7 .3
1.4
5. 8
.1
-.8
.6
.4

-11.1
-13. 8
-21. 5
7. 8

3.l
2.2
-1.6
3 .9

.3
-.5
1.0
-1.5

1.6

7.4
5.5
-.3
5. 8

8. 6
6. 7
.6
6 .2

8 .8
5.3
1.6
3.7

3.9
.1
-. 8
.9

.5

4

5

6

7

8

9

10

11

12
13
14

15
16

17

18
19
20
21

NET INCREASE IN LIABILITIES

23
24

DEMAND DEPOSITS, NET
u.s. GOVERNMENT
OTHER

25
26
27

TIME DEPOSITS
LARGE NEG. co• s
OTHER

28

F.R. FLOAT
BORROWING AT F.R. BANKS
SECURITY ISSUES
OTHER LI ABIL !TIES

22

29

30
31

32

0 ISCREPANCY


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

.4

.

. .•

•l

-.3

.

.3
2. 3
.6

3. 8

1.4

.6

3. 8

1.4

.6

.

.e

•7
.1

.4

.8
.2

.1

.

..
.

.4

8.6
4.4
4.4

- .3

.

4

5
6
7
8

9
10

11

12
l3

14
15
16
17
18
19
20

4.8
2.l
- •5
2.6

5. 6 21
l. 7 22
23
1.7 24

.3

1. 7

3.1

3.4

3.8

l.3

•5

.3

1. 7

3 .1

3.4

3. 8

l.3

2. l 25
- 26
2.l 27

.e

-. 2

-.2
.l
.1
.5

-.1
.1

-. I

.1
•2

•8
.1
-.l
•5

.1
-.1
•3
l. 5

.4

•3

•3

-.2
•1
-1.1

-. 5

.2

.

.4

.1
.1
.6

.l

•2

•3

.2

.2

.4

•2

•3

.5

28
29
30
31

• 7 32

FEBRUARY, 1970
BANKING SYSTEM

BANKING SYSTE'4

17
YEAR TOTALS, 1957- 6 8

1
2
3
4
5
6

7
8

-------------

CURRENT SURPLUS

-

1957

1 95 8

1959

•1

.1

- .2

.9
•1
- .2

-. 2
-2. 3
•1
- .1

------------

NET· ACQ. OF FINAN. ASSETS
GOLD ANO FOREIGN EXCHANGE
TREASURY CURRENCY
F.R. FLOAT
F.R. LOANS TO DOMESTIC BANK
CREDIT MKT. INSTRUMENTS
u.s. GOVT. SECURITIES

.

•6

- .3

- 1.l
- 1.l
•3

1.3
•3
.3

-.2
-.1
.4
.2

-.1
•1
.6
- .1

- .1
-.1
.1

•1
•7
-.l

CURR ENT SUIPLUS

1.4

10
11
12
13
14
15
16
17
18
19
20

9

3.4

.2
- .3
-.2

NET ACQ. OF FINAN. ASSETS
TOTAL LOANS ANO INVESTMENTS
CR EDIT MARKET INSTRUMENTS
u. s. GOVT SECUR !TIES
DIRECT
AGENCY ISSUES
LOAN PART IC. CTFS.

7

-.5

2.2
-.4

-.3
-. 5
- .1

2
3
4
5

8

.1

1.7
- .8

•1

.
•
•.

1

6

•1

1.4
- .8
.2
.5
.l
1.5
1.5

2.1
2. l

•

.

3.8

9

.9

-1.1
.1
2.4
.2

12
13

2.l
-.4
.6

3 .8
1.0
-.4

2. 2
.4
•3

4. 2
1. 3
.6

.1

.3
-.l
1.7

.

.2
.1
2. 4
.1

-•1
2-1

•2
.2
2.0
-. l

.8

.
.

.

2.1

7
8

.9 10
1. 3 11

l't

l.7

1.9

2.1

2. 5

2.8

3 .3

I

23. 6
22.4
21.9
.4
-.2

.

20. 1
16. 8
16.2
-3. 6
- 3.4

.6

30. 5
29.1
29. 0
-2.3
- 3.l
1.1
-. 3

-. 2

.

39. 9
37 .o
35.5
9.4
6.3
•3
2.-9

43. 2
39. 2
3'3.0
2.8
1.7
1.1

2
3

•9
.5

20.0
19.4
18.8
-2.6
-3.0
•5
-.2

.

4 .2
2.8
-.2
.8
.8

8 .3
4.4

10.1
5.2

2.0
1.9

•
2.7

2.2

e. 2
3.6
•l
2. 3
2.2

10.b
5. 1
- .1
3.1
2. 5

6.6
1.9
.l
2. 4
2. 3

14. 3
9.0
.8
2.4
2.2

15. 7
8. 7
.3
3. 5
3. 2

12
13

5. 5
l.7
3.6
•2
•2
- .8
•8

4.7
.9
3.4

8.8
2. 3
6.2
.3
1.1
•7
.5

11.3
3. 5
7.7
.l

13 .4
3.'3
8. 8
•7
.5

20. 7

.4
-.6
•l

10 .2
2.9
6. 8
.6
•2
-.6
.2

lb. 6
-.5
.l
•7
•7

13. 3
2. 6
9.1
l. 6
.5
1.9
1.4

11.7
1. 8
7. 5
2.4
l.5
1. 7
l.2

19 .5
4.9
15. 7
-1. 1
l. 3
2. 1
1. 9

14
15
lb
17
18
19
20

5.2
-.7
.2
-.9

13.9

3 .9

.4
5.3

.8

16.l
4.8

19. 3
3.8

4. 8

19.8
3.7
1.2
2.5

4.4

4.9

29. 2
5.6
-1.0
6. 6

l 8. 9
.3
- .5
•8

38.2
11. 3
•2
11.1

41.4
9. 3
-. 2
9.5

21
22
23
24

15.6
3.0
12.b

14. 3
3. 7
10.7

14. 5
2.7
ll.8

20.0
3. 8
16. 2

13.3
- .8
14. 0

23.8
4.7
19.l

20.6 25
2. 5 26
18. 1 27

.6
-.l
.1
-.1

-.3

.l
.6
2. 0

- .4
-.1
•8
3.2

.3
.1
.1
5.0

.2
2.9

1.0 28
29
.2 30
10. 3 31

.3

.5

.4

.8

.7

.9 32

1.9

1.6

1. 3

1.5

-.l
.5
-. 5

4.4
4.8
4.6
- 8.4
-7. 3
- .5
- .6

9.0
9.0
8.7
2 .2
1.8
-.l
.5

17.2
15.8
14.7
5.8
5.1

20.8
19.b
18. 5
1.4

OTHER SECURITIES + MTG.
STATE ANO LOCAL 08LIG
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES

1.7
1. 0
•1
.1
•5

4. 7
2.6
-.l
1.2
.9

2. 8
.4
- .1
l. 5
1.0

1.1
.6
- .2

OTHER CR. EXC. SECURITY
CONSUMER CREDIT
BANK LOANS N.E.C.
OPEr+-HARKET PAPER
SECURITY CREDIT
VAULT CASH + M EH. BK .RES •
MISC. ASSETS

3.7
1.2
2. 2
.3
-.l

1.5
.2
.1

.

5.8
5. 3
5.4

.

.4

.6

.6

·"

•3

·"

1.1
.6
•7

•

TIME DEPOSITS
LARGE NEG. co•s
OTHER

5.5

8.0

1.0

5.8

5. 5

e.o

1.0

5 .8

9.4
3.2
6.2

28
29
30
31

F. R. FLOAT
BORROW ING AT F.R. BANKS
SECURITY ISSUES
OTHER LIABILITIES

-.2

-.1

•3
.4

.1
.3

•3
.4
.1
1.2

.3
-.4
.1
1.8

.5
.1
.2
l.3

1.0

.3


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

4.7
l. 2
.5

l.b
.l
•7

1.1

DISCREPANCY

3. 7
3. 8

4
5

b

15
.1
--------------------------------------------------------------------------------------------------COMMERCIAL BANKS
-----------------------------------------------------------------------------------

25
26
27

32

4. 8
4.8

2.9
2. 8

-.2

.
.

3 .8
-1 .2
.2
1.0

4. 8
-. 5
.5

.1
3.4
3.5

-.1
2.0
1.9

14. 7
15.2
14.7
8. 6
8.0
•1
.5

NET INCREASE IN L !ABILITIES
DEMAND DEPOSITS, NET
u.s. GOVERNMENT
OTtiER

.

4. 2
-. 3
•7
.3
.l
3. 5
3. 5

2. 3
-1.3
.2
-.4
- .1
3.8
3.7

. .

7 .9
.3
.9
-.6

21
22
23
24

.
.
.

.1

-1. l
-1.7
.1
•3
- .4
.7
•7

- .7

•
-. 7

-

12
13
14
15

MONETARY

•
-1 .1

YEAR TOTALS, 19 57 68
---------------------------------------------------------------196 6
1967
1968
196 5
1964
1963
1962
1961
-------------------------------------------------------AUTHORITIES
--------------------------------------------

1960

.1
.3
.4
.3
.3

NET INCREASE IN LIABILITIES
MEMBER BANK RESERVES
VAULT CASH OF COML. BANKS
DEMAND OEPOSITS ANO CURRENCY
DUE TO u.s. GOVERNMENT
DUE T O REST O F THE l«JRLO
CURRENCY OUTS IDE BANKS
OTHER

9

10

11

17

SECTOR STATEMENTS OF SAVING ANO INVESTMENT
I BI LLIONS OF DOLLARS I

•6

5.6

•

.

.e

.
.

.b

.2
.4

-.b

•3
1.1

.6

.6

2?.0
4. 8

.

4 .b

..

4

5
6
7

8

9

10

11

.

FEBRUARY, 1970
NON6ANK FINANCE SUMMARY

NON6ANK Fl NANCE SUMMARY
18

SECTOR SU TEMENTS OF SAVI NG AND INVESTMENT
(6ILLIONS OF DOLLARS 1

18

YEAR lOTALS, 1946-56
---------·---------------------------------------------------------------------------------------1949
1947
1946
1948
1945
1955
1950
1951
1956
1952
1954
1953
-------------------------------------------------------------------PRI VATE NON SANK FINA NCIAL INSTITUTIONS - TOTAL
--------------------------------------------------------

YEAR TOT Al S, 1946-56

3
4
5
6

1

8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23

24

25
26
27
28
29
30
31
32
33

1. 0
.2

1.2
.2

1.0

1.1
.3

1. 3
•3

1. 5
•2

l. 5
.4

1.5
.4

1. 3
.4

8.0
.3
.1

9.6
.1

10.4
.2

13.2

11.l
.6

16.4
•2

18. 8
•3

19.4
.4

23.8
.5

19.4
•2
-.l

7.4
-1.4
.1
3. 8
.4
2.9
.8
l .O
-.2

9.7
-2.4

5. 2
.4
3.4
1. 2
1.0
•2

9.6
-.9
.6
3.4
.9
3.l
1.4
1.2
-.1

11.6
-1.7
.8
2.9
1.0
5 .5
1.5
l. 2
.4

17.5
•5
1.4

4.6
1.9
.4
.4

15. 3
•5
.6
5.0
1.4
5.l
1.5
l.7
-.6

22.l
- .2
1.3
3.1
1.1
10.3
1.1
3.2
1.0

18.l
-1.0
1 .2
4.4
1. 5
8.5
l .9
1.3
•2

.l

.1

.1
-.1

•4
.1
.1

.6

.1
.4

.1
.1
.6

•5
.1
.4

.9
.1
.1

•5
.1
.5

6.9
2. 7
3. 8
1.1
.2
•3
.l
.3

6.9
1.9
4. 2
l. 2
.4
.1

9. 8
2.5
4.4
1.2
.4
.3

ll.8
2.4
5 .8
2.0

.1
.1

7 .5
2. 2
3. 9
1.0
•2
.2
.1
•3
.3
.1
.1

.4
.3
.2
.1

.4
.1

l .o
.4

-.1

16.0
5.l
6. 7
1.9
•3
.5
.1
•7
.3
.4

17. 4
5.8
1. 3
2.1
1.4
.4
.1
-.l
•3
.2
.1

17. 9
6.1
7.7
1.1
•3
•5
.2
•2
-.2
-. 2
-.1

22.4
7.1
7.9
5.5
1.4
.9
.1
2.4
•8
.2
.6

-1.6

-.8

1.0

1.1

.5
.l
1.0

•5
.2
1.0

•3
.2
1.9

.4
•3
1. 5

1.0
-.2
1.6

1.6

-.l

..

7.5

NET ACQUIS. OF FINAN. ASSETS
DEM. DEPOSITS + CURR.
TIME DEPOSITS I MSB I
SVGS. + LOAN SHARES ICR UI
CREDIT MKT. INSTR.
u.s. GOVT. SECURITIES
STATE + LOCAL OBLIG.
CORPORATE + FGN. BONDS
CORPORATE STOCKS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
OTHER LOANS

.1

7.4
1.6
-.1
2. 2
•3
2 .2
.5

.1

-.l
-.1

SECURITY CR EDIT
TRADE CREDIT
MI SC ELLANEOUS ASSETS
NET INCREASE IN L IAB ILITIES
TIME ♦ SVGS. ACCOUNTS
INSURANCE AND PENS ION RES.
CRED IT MKT. INSTR .
FINANCE co. BONDS
INVESTMENT co. SHARES
MTG. LOANS IN PROCESS
BANK LOANS N .E .C .
OTHER LOANS
FINANCE co. PAPER
FHLB LOANS

.z

SECURITY CREDIT
TAXES PAYABLE
MISC ELLANEOUS LIABILITIES
DISCREPANCY

•5
.1

.6

CURRENT SURPLUS
PHYS! CAL INVESTMENT

•

.
.

. . . . .. ..

.1

.

.z

•

l

.1

-.1

.l
9.6
-2.9
.6
3.9

.1

. .
.4

10.4
3. 2
5. 3
.8
•3
.3

. .
.
.4

.2

.4

.4

1.1

-.2
.5
.4
.1
-. 3
.1
1. 3

4.1

1. 3
6.1
l.3
l .9
•3

.l
17. 3
-.2
1. 7
4.2
l.7
7.9
1. 3
•7

.

•3

.

3
4
5
6
1

8
9
10
11
12
13
14
15

.1 16
.1 17
.9 18
18 .6
7. 3
8. 5
l.5
1.0
1.1

.

-.5
-.1
.1
-. 2

19
20
21
22
23
24
25
26
27
28
29

-.6 30
-.1 31
2.1 32

.2
.3
-.1
-.1
.6
-.4
•1
-.z
-.6
.1 33
-.l
------------------------------------------------------------------------------------------------SAVINGS ANO LOAN ASSOC IATIONS
---------------------------------·-----------------------------------------------------------------

.

.1

.1

.1

.1

.2

•2

.2

•2

•3

.4

.4

l

1. 5
.1
1.4
-.4
1. 7
.l

l.5

1. 3
.1
1. 2
-. 3
1.4
•1

1.6
.1
l.3

2.0

3. 4
.1
3.1
.2
2.8

.1

.2

•1
.1

4.l
.1
3. 8
.1
3. 4
•2
.1

6.0
.2
5.8
.4
5. 0
•3
.1

5 .2
.1
4.9
•5
4.0
•3
.1
•3

2
3

1.3

2 .3
.l
2.0
.1
1.7
.2

4.9

.

z.3
.1
2.l

9

NET ACO. OF FINAN. A SSETS
OEPUNO DEPOSITS + CURRENC
CREDIT MKT. INSTR.
u .s. GOVT. SECURI Tl ES
HOME MORTGA GES
OTHER MORTGA GES
CONSUMER CREDIT
M !SC . F INANC !AL TRANS.

10
11
12
13
14
15
16

NET INCREA SE IN LIAB ILi TIES
SAVINGS SHARES
CREDIT Ml<T. INSTR.
MTG. LOANS IN PROCESS
BORROWING FROM FHLB
BANK LOANS N.E.C.
MISCELLANEOUS LIABILITIES

1. 3
1.2

1.4
1. 2

.1
.1

.1
.1

1. 2
l. 2
.1

l.5
1.5
-. l

2.l
l.5
.4

2.2
2.l
.2

.1

-.1

.4

.1

.1

-.1

CURRENT SURPLUS
2
3
4
5

17
18

DISCREPANCY
MEMO- FHL6 LOANS LESS DEP.

•2

.

l .5
-.3
l .6
.1

.2

.

..

-.1

.

.

.2

•

.1
•3

.3

.2
4.3
.l
4. 0
.1
.1
.4

.. •. .
•
•
.
. . . .
3. 2
3.1
.1
.1

3. 8
3.1

.1
.1
.1

4.6
4.4
.2
•2

-.1

.1

5.7
4.9
•7
.1
.6
.1

4. 8 10
5. 0 11
-. 2 12
13
-. 2 14
15
.1 16

CURRENT SURPLUS

.. ..
.
. . ..
.. .. .. . . .
. .

.
. .
..•
.
.

.1

.1

.1

.1

•l

•2

•l

•l

.1

.1

.1

1. 7
•2

1.1

.8

1.0

.9

1.8

1.9

2. 2

2. 0

2. 0

.1
.9
.2

1.0

-.4

1.0
-.1

- .1
1.0
-.6

1. l
.1

.4

.4

.2

.3
.2

.6
.4

.5

.4

.9
.6

1.0
.6

l .8
-.2
•l
•2
.1
1.2
.4

2.l
-. 5
.2
.1
.1
1. 6
.4

-.1
2.l
-.4

.1
.1

1.7
-.4
.2
•3
•l
.9
.6

2. 0
-.2

•2

.9
-1.0
.1
•2

14

.1

-. 2

15
16

SAVINGS DEPOSITS
M l SCELLANEOUS L IAB ILIT !ES

l.5

.9

.6

.9

•7

.9

1.7

1. 8

2. 0
.1

17

DISCREPANCY

4

5
6

7
8
9
10
11
12
13

l
2
3
4
5


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1. 5
1.1

•l

l

4
5
6
7
8

-.3
.1
2.l
.4

.1
.1 9
1. 9 10
• 4 11
12
13
14

1.8

1.8 1 5
.1 16

-.l
17
----------------------------·
-------------·---·----·----------------------------------------------CREDIT UNIONS
---------------------------------------------------------------------------------------------

NET •c0u1s. OF FINAN. A SSET
DEM. DEPOSITS + CURR.
SVGS. ♦ LOAN SHARES
CREDIT MKT. INSTR.
CONSUMER CREDIT
HOME MORTGA GES
CR ED IT UNION SHARES

17

.4
.1
.I
-.2
.1
-.3
-.1
-. 2 18
•7
-----------------·
-----------------------------------------------------------------------------MUTUAL SAVINGS BANKS
-------------------------------------------------------------------------------·-----. 2

NET ACQ. OF FINANC !AL ASSET
DEM. DEPOSITS + CURR.
T !ME DEPOSITS
CR EDIT MK T. 1-.STR.
U.S. GOVT. SECUR !TIES
STATE + LOCAL GOVT• SEC.
CORPORATE BONDS
CORPORATE STOCKS
HOME MORTGAGES
OT HER MORTGAGES
OJNSUMER CR ED IT
OTHER LOANS
MISCELLANEOU S ASSETS

2
3

8
9

.• . •. . . .

.1

.1

.1

.1

.1

.1

.1
.1

.1
.1

.1
.1

.z
.2

.1

•l

•l

•l

.1

.2

.3

•3

.4

•5

.2

.

•3
•3

.1
.2
.2

.4
•3

.4
•3
.1

6

.3

.3

•3

.4

•5

1

•3

.1
.1

•
•2

.2

•

FEBRUARY, 1970
NONBANK FINANCE SUMMARY
19

-----------------------------------------1957
1958
----------------

YEAR TOTA LS, 1957-68
---------------------------------------------------1967
1966
1965
1968
1963
1964
---------------------------------------------------------------PRIVATE NONBANK FINANCIAL INSTITUTIONS - TOTAL
--------------·----------------------------------------------------------------

YEAR TOTALS, 1957-68

CURRENT SURPLUS
PHYSICAL INVESTMENT
3
4
5

6
1
8
9

10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25

26

27
28
29
30
31
32
33

NONBANK FINANCE SUMMA RV
19

SECTOR STATEMENTS OF SAVI NG AP«> INV1:STMENT
I BI LLIONS OF DOLLARS I

NET ACQUIS. OF FINAN. A SSETS
OEM. OEPOS ITS + CURR.
TIME OEPOS ITS CMSBI
SVGS. + LOAN SHARES CCR UI
CREOIT MKT. INSTR.
u.s. GOVT• SECURITIES
STATE + LOCAL OBLIG.
CORPORATE + FGN. BONDS
CORPORATE STOCKS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CR EDIT
OTHER LOANS

1962

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S ECUR ITV CREDIT
TAXES PA YABLE
MISCELLANEOUS LIABILI Tl ES

1961

1.5
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1.3
6.2
2. 3
6. 3
1.1
1.0
1.5

NET INCREASE IN LIABILITIES
TIME + SVGS. ACCOUNTS
INSURANCE AND PENSION RES.
CREDIT MKT. INSTR.
F !NANCE co. B ONDS
INVESTMENT co. SHARES
MTG. LOANS IN PROCESS
BANK LOANS N.E.C.
OTHER LOANS
FINANCE co. PAPER
FHLB LOANS

1960

1. 1
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20.0

SECUR ITV CREDIT
TRADE CREDIT
Ml SCELLANEOUS A SSETS

1959

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7 .3
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5.9
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10.1
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9.4
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7.0
1. 8
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11.5

14.0
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13.3
1.0
9. 3
2.9
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11.8

10.2

1
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11.0
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2.3
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9.6
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7.1
1.9
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10
11
12
13
14
15
16

NET INCREASE IN LIABILITIES
S AVINGS SHARES
CREDIT MKT. INSTR.
MTG. LOANS IN PROCE SS
BORROWING FROM FHLB
BANK LOANS N.E.C.
MISCELLANEDUS LIABILITIES

4. 9
4. 8

1.8
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1.6
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1.3
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1.4

CURRENT SURPLUS
3

4
5

6

17
18

DISCREPANCY
MEMO- FHLB LOANS LESS DEP.

CURRENT SURPLUS

12
13
14
15
16

SAVINGS DEPOSITS
MISCRLANEOUS LIABILITIES

17

DISCREPANCY

6

1
8
9
10

11

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2
3
4
5
6


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Federal Reserve Bank of St. Louis

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24
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2
3
4
5
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8
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11
12
13
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4.1 15
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-. l 17
-------------------------------------------------------------------------------------------------CREDIT UNIONS
-------------------------------------------------------------------------------------

NET ACQUIS. OF FINAN. ASSET
OEM. DEPOSITS + CURR.
SVGS. + LOAN SHARES
CREDIT MKT. INSTR.
CONSUMER CREDIT
HOME MORTGAGES
CREDIT UNION SHARES

37.l
-.9
l .2

3
4
5
6
7
8
9
10
11
12
13
14
15

.5
-.l
.9 18
•l
-2.9
•9
.8
-----------------------------------------------------------------------------------MUTUAL SAVINGS BANKS
-------------------------------------------------------------------------------------

NET ACQ. OF FINANCIA L ASSET
DEM. DEPOSITS + CURR.
TIME DEPOSITS
CREDIT MKT. INSTR.
u. s. GOVT. SECURITIES
STATE + LOCAL GOVT. SEC.
CORPORATE BONDS
CORPORATE STOCKS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
OTHER LOANS
MI SCELL ANEOUS ASSETS

2
3
4
5

.6

•
•3

•8
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-.3
-.5
.2
-.9 33
.9
.2
-------------------------------------------------.
------------------------------SAVINGS AND LOAN ASS OCIATI ONS
------------------------------------·-----------------------· -----------------------

DISCREPANCY

NET ACQ. OF FINAN. ASSETS
DEMAND DEPOSITS + CURRENC
CREDIT MKT. INSTR.
u.s. GOVT• SECURITIES
HlME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
MISC. FINANCIAL TRANS.

2

.

.

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.

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1. 0

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1.0
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1.2
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1.2
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1.1

7

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2
3
5
6

FEBRUARY, 1970
INSURANCE + PENSION FUNDS

INSURANCE

------·-----------------

YEAR TOTALS, 1946-56

1946

1945

.

.4
.2

.4
.2

.4
.3

3.6
-.1
3.6
-3.2
•3
4.2

3. 8

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l.lt
.7
,1
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3.7
-1.5
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2.6
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1,2
.9
.2
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3.8
-1.8
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1.8
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2 ,4
.8
.2
,2

3 .4
2.5
•5
.4

3.4
2.6
,6
•3

3. 7
2.6
.6
,4

3, 7
2.6
.8
.3

3. 5

3.lt
.2
3.1
-1. 6

13

NET ACOUIS. O F FINAN. ASSETS
DEM. DEPOSITS ♦ CURR.
CREDIT MKT. INSTRUMENTS
u.s. GOVT. SECURITIES
STATE AND LOCAL OBLIG.
CORPORATE BONDS
CORPORATE STOCK
HOME MORTGAGES
OTHER MORTGAGES
OTHER LOANS
HISCELLANEOUS A SSETS

lit
15
16
17

NET INCREASE IN L !ABILITIES
LIFE INSURANCE RESERVES
PENSION FUND RE SERVES
OTHER Li-ABILITIES

3. 3
2. 6
,4
•3

18

DISCREPANCY

q

10
11
12

1

2

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3
5
6
7
8

3. 5
1.0
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1.8
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11

12

2
3

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5
6
7

8
9

10

11
12

.
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3.0
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1.0
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1956

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2. 8
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2.0
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2.0
•7
.2
.2

5. 5
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5.2
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.2
1.8
,1
2,5
1.0
.3
•2

3.9
2.5
1.0
.4

lt,5
2.7
1.1
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4, 6
2.9
1,1
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4. 7
3.0
1.2
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5. 0
3.0
1. 3
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1.7
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1,6
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3
4
5
6
7
8
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2, 5 10
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18

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NET ACQ .O F FINAN. A SSE TS
DEMAND DEP. AND CURRENCY
CREDIT Hl(T. INSTRUMENTS
U.S .GOV.T .SECURIll ES
DIRECT
U. S.G. AGENCY SEC,
STATE ♦ LOCAL O!ILIGA TION
OTHER CR .HKT. INSTRUMENTS
CORPORATE BONDS
CORPORATE STOCK
HORTGAGES
OTHER

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1.0

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1. 5

1,3

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1,3
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.2
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•3
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.5
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.3
.6
,6

•3
.6
.5

.1

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CURRENT SURPL US

,I

NET ACQ. OF FINAN. ASSETS

.9
.2
,6

NET ACQ. OF FINAN, ASSETS
DEM, DEPOSITS ♦ CURR.
CREDIT HKT. INS TRUHENTS
u.s. GOVT. SECUR ITIES
CORPORATE BONDS
CORPORATE STOCK
HOR TGAGES
HISCELLANEOUS

14
15
16

•
-------------------------------------------------------

-------------------------------PRIVATE PENSION FUNDS
---------------------------------------------.2

1. 8

.

1,7
.2
1.1
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2,0
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2.0
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1,1
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2.1
2, l
.1
1 .3
•7

2,3
,1
2. 0
.3
,9
•7
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.2

------------------------------------------STATE
LOCAL GOVT, EMPLOYEE RETIREMENT FUNDS
-----------·------------------------------------·
---·-------------------♦

5
6
7
8
9
10

.

.4
.2

.2
.1

,.

20

YEAR TOTALS,
--·-----·--------------------1949
1951
1948
1950
1952
1954
1953
1955
--------------------------------·
----·----LIFE INSURANCE COMPANIES
------------

.4
-.1

5
6
7
8

PE NSI ON FU NOS

1947

CURRENT SURPLUS
PHYSICAL INVES THENT
3

♦

SEClOR STATEMENTS OF SAVI NG ANO INVESTMENT
C Bill IONS OF OOLURSI

20

2, 7
2 .5
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1,6
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5
6
7

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2

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3

5
6
7
•7 8
.6 9
10
.1 11
12

_,.

.1
------------------------------------------------------------------------------------OTHER INSURANCE COMPANIES
------------------------------------------------------------------------

DEMAND OEPOSITS + CURRENC
CREDIT HKT, INSTPUHENTS
u. s. GOVT, SECURITIES
STATE AND LOCAL 081. IG.
CORPORATE BONDS
CORPORATE STOCK
COHHERCI Al MORTGAGES
TRADE CREDIT

NET INCREASE IN LIABILITIES
DISCREPANCY


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Federal Reserve Bank of St. Louis

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2
3

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1.1
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7
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9
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fEIIRU ARY, 1970
INSURANCE + PENSION FUNDS

INSUIIANCE ♦ PENSION FUNDS

21

SEC TOIi STATE.. ENTS OF SAVI NG AND INVESTIIENT
IIIILLIONS OF DOLURSI

21

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------

------·-----------------

YEAR TOTALS, 1957-611

YEAR TOTALS, 1957-68

1957

1958

1959

1960

1961

1962

1963

1964

1965

1966

1967

1. l
.5

.6

LIFE INSURANCE COMPANIES

.
.

CURRENT SURPLUS
PHYSICAL INVESTMENT

.

. .

.8
.4

.7
.4

.8
.5

.9
.3

1.0
.4

1.1
.3

1.1
.5

1.1
.5

1.0
.4

NET ACQUIS. OF FINAN. ASSETS
DEM. DEPOSITS ♦ ClRR .
CREDIT MKT• INSTRU..ENTS
u.s. GOVT. SECURITIES
STATE AND LOCAL IJB LIG.
CORPORATE BONDS
CORPORATE STOCK
tOME MORTGAGES
OTHER MORTGAGES
OTHER LOANS
MISCEl LANEOUS ASSETS

5. 3

5.,.
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5.1
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.3
2. 5
.1
.9
.9
.2
.2

5 .6
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5. 2
- .3
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2.2
•2
1.2
.9
.5
.4

5.7

6.1
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5.7

7.11

11. 7

a. 3

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2.5
.5
.a
1. 7
.4
.3

6.8
.1
6.5
•l
.1
2.5
.4
.8
1.9
.1
.3

1.0

5.4
-. 5
.4
l .a
.4
1. 3
1.3
.8
•3

6.7
-.4
-.2
2.a
.2
.9
2.1
.5
.4

7.4
-.3
-.1
2.3
.5
1.2
3.4
.4
•3

a.2
-.4
-.3
2.8
l. l
3.8
.6
.5

8. l
-.3
-. 4
2.4
.3
.6
4. 0
1.5
.2

-.3
-. l
3. 8
l. l
-.5
3.4
1.0
.9

1"
15
16
17

NET INCREASE IN L IAB IL !TIES
LIFE INSURANCE RESERVES
PENS ION FUND RE SERVE S
OTHER LIABILITIES

4.9
2. 6
1.6

5. 0
2.9
1. 5
.6

5. l
2. 8
2.0
.2

5 .3
3. l
1.3
1.0

5.6
3 .3
l .4
1.0

6.0
3.6
1.4
1.0

6.4
4.0
1.7
.1

7.1
4.2
2.0
.8

7.9
4.7
2. l
1.2

7. 9
4. 5
2. l
1. 2

9.0
4.7
2.6
1.8

18

DISCREPANCY

3
4
5
6
1
8
9
10

11

12
13

l
2
3
4

5

6

7
8

l
2
3
4
5

6

7
8
q

10

11
12

3
4
5
6

7
8

9

10

11
12

l.3
.9
.5
.3

.6

__

,.

•

.1

•

•

9.4

a.It

-.3
-. l
-.1
•l
.1
-.1
------------------------------------------------------------·
--.1
----------------PRIVATE PE NS I ON FUNOS
------------------------------------------------. l

NET ACQ. OF FINAN. ASSETS
DEM. DEPOSITS ♦ CURR.
CREDIT MKT. INSTRUMENTS
u.s. GOVT. SECURITIES
CORPORATE BONDS
CORPORATE STOCK
MORTGAGES
MISCELLANEOUS

3. l
.1
2.9
-.2
1.9
1.l
.1
.1

.

.. .

•

3. 2

3. 7

4.0

3.l

3.5
.2
1.2
1.7
.2
•l

3.8
-. l
1.6
l.9
.3
.2

1. 5
1.4
•2

4.0
.1
3.8
.1
1.2
2.3
.3
.1

.

4.2
lt.O
.2
l .2
2.2
.3
.2

lt.5
•1
'i.3

·"

1.5
2.2
•3
.1

lt.9
.1
4.5
.1
1.6
2.2
.5
.3

.

•

. .
.·" .·" .

•

. .·" .·" •
. .,.

6. l
5.5
-.5
1.9
3. 7
.5
.6

1. 5
3. l
.6
•3

1.6

l.5

2.0

2.3

2.5

2. 5

2.'i

2.8

3.3

1.6
.1
.l

1.5

2.0
.5
.4

2.2
•3
.2
.1
.2
1.8
1.2
.1
•5

2.4
.2
.1
.1
-.1
2. 3
1. 7
.2

2.lo

2.'i

3.3

.3
.l
-.5
2.5
l.9
.2
.3
.1

.4

2. 8
.6
.5

1.0
.8
.1
.1

1.1
.8
•l
•2

•3
l .2
.9
.1
.3

.

·"

-.5
2. 5
1.9
.2

·"

__

2.6
1.9
•3
•5
.1

•

5.6
5. 2

------------------------------------------------------------------------STATE
LOCAL GOVT. EMPLOY EE RET IREl'IENT FUNDS
---------------------------

NET ACQ.O F FINAN. ASSl:TS
DEMAND DEP. AND CURRENCY
CREDIT MKT. INSTRUMENTS
U .S.GOVT.SECURITIES
DIRECT
u.s.G. AGENCY SEC.
STATE + LOCAL OBLIGATION
OTHER CR.MKT. INSTRUMENTS
CORPORATE BONDS
CORPORATE STOCK
MORTGAGES
OTHER

·"

•2
.2
-.3
3. 2
2.1
.4
.1
.1

"· 0
.1
3. 8
•2
.l
•l
- •1
3.8
2.5
.5
.8
.1

6.7
.4
5.lt
-. 6
.9

5.0
•l
.8

..

.1
9.3
.1
11. 6

•

-. 2

3. 8
1. 4

5
6

1

II

9

-.1 10

3.2 11
1. 1 12
. 6 13
9.1
4.6
2.9
1.5

lit
15
16
17

-.4 18

6.lt
5. 8

l
2
3

.7
lt.7

6

.3

.

.5

,.

5

.z

7
8

'i.3

l
2
3

----------

'i.6

.1
lt.5

•l
"• l

-.2
.2
-.1

-.4

•

'i.6

,.

3

3.4
•7
.5
.1

• "
·"
5

6

-.1 7
4.1 8
2.4 9
1. 3 1 0
.4 11
• l 12

----------------------------------------------------------------------------------------------OTHER INSURANCE COMPANIES
------------------------------------------------------------------------------------------------

CURRENT SURPLUS

2

5.0
-.5
.1
2.6

•9

1968

.

. . .

-. 2

.1

.2

•3

.3

1.0

1. 2
.l
.9

1. 7

l .2

l .3

.7
.1
.1

1.6
.3
1.0
.1
.3

1.0
-.2
•8
.1
.3

1.2
-.1
l .o

.2

.1

.2

.2

1.1
-.1

.9
-.2

1.1
-.4

.9

NET ACQ. Of FINAN. ASSETS
DEMAND DEPOSITS
C URRENC
CR EDI T HK T. INSTRUMENTS
u.s. GOVT. SECURITIES
STATE AND LOCAL OBLIG.
CORPORATE B ONDS
CORPORATE STOCK
COMHERCI AL MORTGAGES
TRADE CREDIT

•8
-. l
•7
.2
.l

NET INCREASE IN LUB ll IT IES
DISCREPANCY


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

.

•l

l

3.lt
•l
3 .o
-.3
1. 0
1.2
1.1

2
3

-.1

- .3

-• l

.5

1.1

1.0

2. l

2.3

1.0
.2
•7

1. 9

•3

.2

.9
.1
.4
•3
.1

1.2
-. l
1.1

.6
.1

1.3
.6
.4

2.l
-.1
l.4
.1
.6

.1

.2

.1

.2

.2

.2

•3

5
6
1
8
9
.3 10

.1

1.1
-.2

1.2
-.1

1.6
.3

1. 8
.1

2. l
.2

2.1 11
-1.0 12

•

. .. .

.

. . . .,.
·"

·"

•3
1.9
•1
l. 5
.1
.8
.3
.2

.e

-.2

-.9

•

__

.

. .

"

FEBRUARY, 1970
FINANCE N.E.C.♦ FOREIGN

FINANCE N.e.c.+ FOREIGN

22

22

SECTOR STATEMENTS OF SAVI NG ANO INVESTMENT
I BILLIONS OF DOLLARS I

YEAR TOTALS, 1�6-'6
----------------------------------------------------------------------------------------------------------------------l91t9
1951
1950
1956
1955
191t7
191t8
1954
1953
1952
l91t6
191t5

YEAR TOTALS, l91t6-56

l

•l

-.l

CURR ENT SURPLUS OF GROUP

.

.1

.1

•l

•l

FINANCE COMP ANIES
--------------------------------------------------------------------

4
5

NET ACQ. OF F lN AN. ASSETS
DEMAND OEP.+ CURRENCY
HOME MORTGAGES
CONSUMER CREO IT
OTHER LOANS I TO BUS. I

6
7
8
9

NET INCREASE IN LIABILI TIES
CORPORATE BONDS
BANK LOANS N.E.C.
OPEN MARK ET PAPER

.

•1
.6
-.1

.6
-.l
.1
.9
-.2

1.1
.2

.6
•2
•3
.1

.6
•2
.3
.l

l. 0

.6

.8
.1

·"

.4
.2

•l

..

•

1.0
.1
.1
1.1
-.2

1.6
.2
.2
1.0
.2

.5
•1
-.l
.3
.2

1. 7

.4

.2
1. 5
-.7

1.6
.1

.2
.4
-.3

·"·"
.2

1.4
.4
.9

.4
•3
-.2
.4

1. 3
•3
•7
.4

1. 5
1.4
-.1
.2

.4
.3
.2
-.2

.4
- .l

.4
-.1
-.1

1.0
.1

•l

.4

.e

.3
.4

-.6

.3
•5
•l

.4
.3
.1

1.0
.6
.1
•3

•3
•3
.1
-.1

-.6
-. 7
.1

-.l

-.2

-. 3

•7

.8

•7
•1

.8

.9

1.0

.T

2.a
.5

-.1
.9
- .1

l
2
3
4
5

3.9
1.4
2.3
.2

•7
1.0
-.5
.1

6
7
8
9

4.1
.3
•5

-----------------------------------------------------------------------------------SEC URITV BRO KERS ANO DEALERS

6
7
8
9

•

.2

NET ACQ. OF FINAN. ASSETS
DEM AND DEP. + CURREl'C Y
U. S. GOVT. SECURITIES
OTHER SECURITIES
SECURITV CREO IT

-1. 6
.2
-1.0
-. 2
-.7

-.8
-. l

NET !NCR. IN LIAS.- SEC. CR
FROM BANKS
FROM AG. OF FGN. BANKS
CUSTOMER CREDIT BALANCES

-1.6
-1. 7

-.8

- .1

-.1

-.1

•5
-.l
.6

.5
.5

·"

•5
-.l
-.1

·"·"
•5
·"
.1

.

-.3

.1
-.1
- .2
.5

-.3
.1
-.l

.l
•3

-.3
-. 2
.1
-.l

.·"

·"
-.l

-

.2

. .,. .
.1

.3

__

- .6

.2
- •l
.1
------------------------------------------------------------------------------------------

l
2
3

"5

6
7
8
9

OPEN-ENO INVESTMENT COMPANIES

CURRENT SURPLUS

,

2
3
4
5
6
7
8

NET ACQ. OF FINAN. ASSETS
DEM. DEPOSITS + CURR.
CREDIT MKT. INSTR.
U.S. GOVT. SECURITIES
CORPORATE BONDS
CORPORATE STOCKS
COMMERCI Al PAP ER
NET STOCK ISSUES

.
. .

.1

-.l

•2

•2

.1

.3

.2

.3

•5

•2

.2

•2

.3

•2

.2

.5

.4

.l

.2

.1

.. ..
.·"
.
. . .
.·"
•2

.l

.2

.l
.4

.1
•3

.3

.2

.1

•3

.2

•3

•5

.4

.5

.9

.l

.1

.1

.l

.l

.1

.l
.1

.1

•3
.l
.l
.1

-.1
.1

.l

.1

.l

.l

•3

.l

·"

6. l
15.8
9.6
5.6
-.5

l.8
13 .8
12.0
"· 0
2.2

3. 7
18. 7
15.l
3.5
-. 2

2.2
l 8. 0
15 .e
2 .5
•3

.4
16. 9
16. 6
2. 5
2. l

1. 8
l 7.8
15.'l
2. 3

2.0
19.8
l 7 .8
2. 5
.5

4.0
23.6
19 .6
2.lt
-1.6

2. 3
3.7
l.7
•2
•2
1.2
.1
•2

-.6
.5
- •l
-.5
.1
-.1
•2
.8

- .3
1. 3
-.4
•2
.2
l.l
.l
.2

l.8
2. 2
l. 2
-.3
•5
.5
•2
.1

•3
l.6
.3
.l
.6
•2
•3
.1

-.1
l.4

-2.l
2. 2
-.3
.2
-. l
•8
•5
l .O

l.3

1.2

l.6

•5
-. l
-.2
•2
.6

l. 3
-. 2
•2
•2
1.1

1.5
-.l

•5

.1
.4
1.1

1.2

·"

"· 3 14
.6 15
16
.6 l 7
2. 7 18

.6

•3

.1

.5

.5 19

-l. 2
- .1

--.. 2

-.1

-.1

.

.4

·"

AGENCIES OF FOREIGN BANKS
l
2
3
It

NET ACQUIS. OF FINAN. A SSETS
OEM. DEPOSITS + CURR.
U.S. GOVT. SECURITIES
SECURITY CREDIT

5

DEPOSIT LI A81LI Tl ES

-.l

.l

-.l

.l

-.l

.1

-.l
.1

. ..
. .

.5
•1

.

.1

l
2

"53

•2
.6

6
7
8

l.l

9

·"

.1
•2
•l

l
2
3

"

5

REST OF THE WORLD
NET U.S.EXPORTS
U.S .EX PORTS
U. S. IMPORTS
T RANSFER RECEIPTS FROM u.s.
CURRENT ACCOUNT BALANCE

7. 5
14. 7
7.2
2. 9

6
7
8
9
10
11
12
13

NET FINANCIAL INVESTMENT
NET ACQU IS. OF F !NAN. ASSET
GOLD
u. s. OEM. DEP. ANO CURREN
TI ME OEPOSI TS
U.S. GOVT. SECURITIES
OTHER CREOIT MARKET INSTR
OTHER FINANCIAL ASSETS

-5.0
-l.9
- .6

-.3
-. 2

-.l
2 ·"

-. l
.l

-l. 3
.1
-.2
-.4
.l
.3
.l
.1

lit
l5
16
17
18

NET INCREASE IN LIABILITI ES
OFFICIAL U.S. FGN. E XCHAN
SECURITIES
LOANS
OTHER LIABILITIES

3. 2
- •2
-.l
3. 5

9. 2
l. 2

2. 3

·"

l.lt
.2

"

5

19
20
21

DISCREPANCY

u .s.

GOLD + NET FGN. EXCHANGE
HELD BY- MONETARY AUTH.
u. s. TR EA SUR Y


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

-lt.6

..

-.1

·"
.5
-. l

ll.5
19. 7
8 .2
2.6
-8.9

16.8
10.3
4 .5
-l.9

-9.9
-. 7
-2. 2
- .2

-3. 2
-.8
-l.5
•3

-. 1

6.lt

·"

"·"
3.6

.1
l .2
.1

•3
.9

1.1

1.0

l .2

•8

-.1

l.9
1.4

l. 5
.4

.2
.1

•3

-1. 5
-.3

·"
•3

·"

•5
-.l

·"

]

.

-. l
-.l
1.1
.5

l
2
3

"5

6

7
8
9
10
ll
12
13

·"

• 3 20
21

.6

FH"-IAU, 1910
FINANCE N.E.C.+ RJIIEIGN

FINANCE N.E.C.+ FOREIGN
23

SECTOII STATEMENTS OF SAYING ANO INVESTNENT
I 8 I LL IONS OF DOLLARS I

23

--------------------------------------------------------------------------------•
-----------------------------------------------------------------------------------------------------------------------------

YEAII TOTALS, 19!17-61

1957

l

1958

CURRENT SURPLUS OF GROUP

1959

1960

1961

1962

1963

l'l64

1965

1966

1967

1968

-. l

-.2

-.3

-.3

-.l

-.1

-.1

-1. 1

-1 .o

-1. 9

2 .5
.1
•5
1.8

4.1
-.2
.8
2.2
1.3

3. 9
.4
2.l
1.4

5.4
•2
.5
2.6
2. 0

2 .6
•2
-. 6
1.e
1.2

.9
.2
.4
.6
-.4

5. 5
.2
.6
2.4
2.2

2.6
.3
1.0
1.2

4.0
1.4
1.6
1.0

4.l
2.l
.5
1.5

5. 2
1.9
2 .2
1.0

2. 8
.8
-1.4
3.4

.9
1.0
-2.0
1. 8

5. 5
.8
2. 3
2 .5

.6
.1
-1.3
.2
1.5

.2

-.5

.1
.1
-. 3
-• l
.5

.1
.1
.7
.l
-.2

2.4
•2
-.8
.1
2. 8

2.3
.4
•8
-.9
2.0

.5
.2

.l
.2

.6
•6
.1

2 .1
.9

2.0
1.0

1.2

1. 0

-2. 2

1

2. 5
.1
2. 4
•2
.4
l. 5
•3

2
3
4
5
6
7
8

1

FINANCE COMPANIES

.

l
2
3
4
!I

NET ACQ. OF FINAN. ASSETS
DENAND DEP • + CURRENCY
HOME NORTGAGES
CONSUMER CREDIT
OTHER LOANS I TO BUS. I

l •l
•l
-.3
.5
.9

-.1
•l
.!I
-.9
-.4

2.9
.3
.2
1.7
.6

3.0
.1
1.4
1.6

1.0
.2
.6
.1
.1

6
1

NET INCREASE IN L IAB IL ITIES
CORPORATE BONDS
BANK LOANS N.E.c.
OPEN MARKET PAPER

1.2
.1

-. 1

2.1
l.l
•9
.1

2.9
l .5
.6
.8

1.0
.5
.6
-.l

..

1.0
.1

II

9

5

NET ACQ. OF FINAN. ASSETS
DEMAND DEP. + CURRENCY
u.s. GOVT. SECURITIES
OTHER SEC!Jt IT IES
SECURITY CREDIT

6
1
8
9

NET INCR. IN LUB.- SEC. CR
FROM BANKS
FROM AG. O F FGN. BANKS
CUSTOMER CREDIT BALANCES

l
2
3

4

8

NET ACQ. OF FINAN. ASSETS
OEM. DEPOSITS ♦ CURR.
CR EDIT MKT. INSTR.
u. s. GOVT. SECURITIES
CORPORATE BONDS
CORPORATE STOCKS
COMMERCIAL PAPER

9

NET STOCK ISSUES

1
2
3
4

NET ACQUIS. OF FINAN. ASSE TS
OEM. DEPOSITS + CURR.
u.s. GOVT. SECURITIES
SECURITY CREDIT

5

OEPOS IT LIABILITIES

.5

.
..

.2
-.7
-.1

.

SECURITY BROKERS AND DEALERS

•
•

•l

.6

.1

.2
-.6
1.0

-.2
.2

•1

•6
.2

.1

•

.3

.

.2
-.2

.5

.6
-.l
•5
•3
.1
.2

.

.9
.1
.4
-.2

-.2
1.1

.

.9
•8

.9
1.l
-.2

.1

.4

.7

•.

-.3
-• 3
•5

.

.

. . . .

.

-.2

-.3

-.4

-.5

-.4

-.4

-.8

-1.l

-1.2

-1.4

.9

1.2
•l
1.2
•l
•2
1.0
-.1

l .4

1.1

1.4

1. l
.1
.2
•8

.8
.1
•7

1.1
•l
1.0

2.0
.l
2. 0

2. 5

1.4
.2
•2
1.0

1.4
.1
1.3
.1
•3
1.0
-.1

.2
.6

.4
•1
-.l

.4
l. 2
•3

1.1
•2
.9
-.5

.1
•8

6
7
8
9

OPEN-END INVESTMENT COMPANIES

-.2

•9

6
7
8
9

----------------------------------------------------------------------------

.2
•3
-.3

..

CURRENT SURPLUS
2
3
4
!I
6
7

•

•

.

1.4

l.l
•3

2. 5
.6
•4
1.0
.5

.

l.5

1.9
1.8
1.2
3.7
1.4
3.1
1.9
1.7
1. 2
4.7 9
l. 5
2. 5
------------------------------------------------------------------------------------AGENCIES OF FOREIGN BANKS
----------------------------------------------------------------------

.

ol

.2

-.1
.1

•l

.1

.

•l

.3
.1
.1
.1

. .

•2
•2

-.2

.2

-.2

-.2
.4

•5
.1

.5

-. 5
-.1
-.l
-.3

.2
.1
.l

.5
.1
.6

.2
.l

-. 5
.5
•2
.5
.2
.2
•3
-.2
.1
•2 5
.2
-------------------------------------------------------------------------------REST OF THE WORLD

NET U.S.EXPORTS
U.S.EXPORTS
U.S.IMPORTS
T RANSFER RECEIPTS FROM u.s.
CURRENT ACCOUNT BALANCE

5.7
26.5
20.8
2. 3
-3.4

2.2
23. l
20.9
2.3
•1

.1
23.5
23.3
2.4
2.3

4 .1
27.2
23.2
2. 3
- 1.7

5. 6
28.6
22.9
2. 6
- 3. l

5.l
30.3
25. l
2.1
-2.5

5.9
32. 3
26.4
2.8
-3.l

8.5
37.l
28.6
2 .8
-5.7

6.9
39.2
32. 3
2. 8
-4. l

5. 3
43.4
38. l
2. 8
-2. 4

5.2
46.2
"1.0
3.0
-2.2

2. 5
50. 6
48. l
2.9
.3

6
7
8
9
10
11
12
13

NET FINANCIAL INVESTMENT
NET ACQUIS. O F FINAN. ASSET
GOLD
u.s. OEM. OEP. ANO CURREN
TIME OEPOSITS
u. s. OOVT. SECURITIES
OTHER CREDIT MARKET INSTR
OTHER FINANCIAL ASSETS

-4.6
.3
-. 8
.2

-.3
3.5
2.3

1.9
4 .6
1.1

.9
.1
-.1
.4

-.9
3.0
.2
l.2

-.1
3. 8
l.7
.1
•3
.6
.8
.4

-2.0
3.3
.9
•7
•3
.4
.4
.6

-1 .3
2.6
.9
.1
.6
l. 3
.2
-.5

-2.8
3.4
.5
.l
1.0
.6
.3
1.1

-4.8
3 .4
.l
•5
1.4
.5
.l
.9

-3. 7
1.9
l.7
•3
.6
-. 2
-. l
-.3

-2.0
3. 3
.6
-1.0
.e
-2.4
.6
4. 7

-1.l
7.6
1.2
.6
1.4
2.1
.e
1.6

l. 2
8.3
l.2
-. 2

14
15
16

NET IN CREASE IN LIABILITIES
OFFICIAL u.s. FGN. EX CHAN
SECURITIES
LOANS
OTHER LIABILITIES

4. 9
.4
•5
.9
3.2

3 .9

2.8

5. 3
•3
.8
1 .e
2. 5

3.9
-.6
1.0
1.1
2.4

6.3
.1
1.1
2. 3
2.8

•7
4. 3
3.3

5. 6
•4
.e
1. 9
2. 5

5. 3

.1
•2
1.9

4. 5
-.4
.1
1.2
3. l

8 .2

1.3
1.l
1.6

•5
l.l
3. 8

8 .7
1.1
1.3
2.8
3. 5

7. 1
2. l
l.3
l. 7
2.l

1. 2

.5

.4

-1 .o

-1.1

-l.2

-.3

-.9

-. 3

-.4

-1.0

-.9 19

.9
•3

-2. 3

-1. l
.1

-1.7
-.4

-.8
.2

-. 8
-.1

-.4

-.2

- 1.3
.1

-.3
-. 2

-. 5

-1.2 20
2. 0 21

1
2
3
4
5

l7

18
19
20
21

DISCRE PANC Y

u. s.

GOLD + NET FGN. EXCHANGE
HELD BY- MONETARY AUTH.
u.s. TREASURY


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

•2
.4
•3

. .
. .

.

.

.

.4

.

9
10
-.5 II
2. 8 12
5. l 13
14
15
16
17
18

FHRUMYt 1910
TOTAL ClAll'5

TOTM. CUIIIS
TOTAL FINANCIAL ASSETS AND LUIIILITIES
IIIILLIONS OF DOLURSI

24

24

1946

1945

1948

1941

1949

19,0

1951

TOTAL FUNDS RAISED AND ADVANCED IN CREDIT MARKETS
l

2
3

4
5
6
1
8
9
10

11
12
13
14
15
16

---------------------

YEAR TOTALS, 1946-56

YEAlt TOTM. S, 1946-56

FUNDS RAISED IN CREDIT MARKETS BYNONF INANC JAL SEC TORS
FEDERAL GOVERNMENT
FOREIGN
PRIVATE DOMESTIC
ICJUSEHOLDS
FARM BUSINESS
NONFARM NON CORP • BUS •
CORPORATE NONFIN. BUS.
STATE + LOCA L G OVTS.
FINANCIAL SECTORS
SPONSORED CR. AGENCIES
SAVINGS AND LOAN ASSNS.
FINANCE COMPANIES
INVESTMENT COMPANIES
COMMERC UL BANKS
EOUM. s--mTAL FUNDS RAISED Ar«> ADVANCED
IN CREDIT MARKETS

17
18
19
20
21

NET ACQUISITIONS BYs PRIVATE DOMESTIC
NONFINANCI M. S ECTDRS
HWSEHOLDS
NONFARM NONCORP. BUSINESS
NONFINANCIAL CORPORATE BUS.
STATE + LOCAL GOVTS.

22

u.s.

GOVERNMENT

23 FINANCIAL INSTITUTIONS
24 SPONSORED CREDIT AGENCIES
25 FEDERAL RESERVE SYSTEM
26 COMMERCIAi. BANKS

1952

1955

-.,

1956

21.3
2.4
.4
24.4
11.1
.8
.9
6.0
5. 7

38.2
.4
38.6
19.T
1.4
1.1
10.6
5.2

29.8
-5.8
1.0
34.6
16.l
.9
.9
12.9
3.9

l
2
3
4
5
6
1
8
9

2.2

1.2

.1
1.5
.4
•1

.2
.4
.5
.2

6.5
1.0
.T
3.9
.CJ
-.1

2.5
.1
-.2
.7
1.1
•3

10
11

33.8

32.0

28. 5

44.6

32. 3 16

5.0
3.2
.4
•2
1.2

a. 1
4. 3
.2
2. 2
1.4

2. 3
2. 5
,1
-1.9
1. 6

15.4
9.2
.2
5.2
•8

5.2
7.8
.3
-3.T
•7

16.9
-1.2
4.4
19. l
1.0
.5
1.4
8.4
1.4

14.l
-5.1
l .3
18.5
8.5
.1
.5
6.5
2.2

11.2
2.6
•3
14.3
1.1
.4
.1
3.1
2.5

25 .5
-1.2
.2
26.5
12.9
l.l
1.1
1.4
3.4

24.l
-.4
.6
23.8
8.6
1.3
1.0
10.4
2.4

31.1
4.8
.5
26.3
12.l
.8
.9
9.4
3.1

1.4
.3
.2
.6
.3
.1

l.1
.1
.2
.6
.2

1.5
.3
.1
1.0
.1

1.1
-.1
-.1
.9
.3

2.5
.4
.4
1.4
.2
.1

1.2
.2
.2
.4
.3
.1

2.1
.1
1.3
.5
.1

-2.8

18.0

15 .6

18 .3

28.0

25.3

-4. 9
,6
.3
-5 .2
-. T

4.5
4.0
.3
-.4
•T

5.6
3.2
.4
1. 5
.6

6.1
2.9
.3
2.6
.5

6.1
.9
.5
3.8
.9

4.4
1.8
.3
1.6
•T

•

1954

-----------------------

-4.2
-23.4
3.4
15.8
6.9
.4
1.4
1.1

•

1953

•

29. 8
T.O
22.1
12.5
-.l
.4
5. 8
4.1

•

.

12

13
14
15

11
18
19
20
21

.7

1.3

1.5

.6

-.3

.8

-4.6
5.5

20.0
.5
l.8
6.1

19.4
.4
3.0
6.2

26.2
.1
,9
9 .8

22. T
.1
1.2
3.9

26. 0
•3
-,9
9. 3

27.4
1.0
-.3
4.5

25. l
1. 0
•2
5.9

23
24
25
26

2. 8

4.3

1.4

1.3

.3
•l
-.8
-6.3

10.0
.2
-.CJ
3.2

8.4
•4
.9
-2.6

10.5

•

• T 22

27
28
29
30

PVT. NONBANK FINANCE
MUTUAL SVGS. BANKS
SVGS. + LOAN ASSOCIATIONS
CREDIT UNIONS

7.4
1.5
1.4
•1

T.4
.9
1.5
.1

9.T
1.0
1.2
•l

9.6
1.0
1.3
.1

11,6
1.0
2.1
.2

9.8
,9
2.0
.1

15.3
l, T
3.1
.2

17.5
1. 8
3.8
.3

17.3
2. l
4. 3
.2

22.l
2.0
5.8
.4

18.1
2. l
4.9
.4

27
28
29
30

31
32
33
34

LIFE INSURANCE COMPANIES
OTHER INSURANCE COMPANIES
PVT. PENSION FUNDS
S.+ L.GOVT. RTR. FUNDS

3.5
.6
.6
.3

3.1
.8
•7
.3

3.6
1.0
,1
.4

3.7
.8
•7
.5

3.8
.9
1,6
•7

3. 7
•8
1.0
.7

4.5
1.1
1. 7
.9

4.9
1. 3
2.0
1.2

4.9
1.1
2.1
l,5

5 ,2
.9
2. 0
1,3

5, 1
.5
2,5
1.4

31
32
33
34

35
36
37
38
39

FINANCE COMPANIES
OPEN-END INVESTMENT
SECURITY BROKERS + DEALERS
AG ENC IES OF FGN. BANKS
BANKS IN U.S. POSSESIONS

.6
•2
-1.2
-.1

•7
.2
-. 7

.9
.2
.6
•1

.9
.3
.2

1.4
.2
-.3

.4
.2
-.2

.

1.0
•5
.3
.1

1. 7
.4
.1

.4

3,8
.1
-,1

•7
•8
-.6
.3

35
36
37
38
39

.4

1.2

•1

cos.

40 REST OF THE WORLD

-1.0

•

-.1
-.8

.

-------.3

-.l

•

·"

.

.2
.1

•

•

------------------------------------------------1,1

,6

1.3 40

.5

1.0

32. 0

28. 5

44.6

32. 3

-.1

-,2

-.1

.6

10.7
3.6
2.3
1.3
7.1

ll.l
3.8
l .8
2. 1
7. 3

TOTAL CLAIMS AND THEIR RELATION TO TOTAL FINANCIAL ASSETS
l TOTAL CREDIT MARKET DEBT
IFROM PRECEDING TABLEI
OTHER DEBT FORM S-FOREIGN EXCHANGE
2
TREASURY CURRENCY
3

-2 .8

18.0

15.6

-.2
•l

1.2

.4

•

18.3

.

CJ. 2
3.4

.5
2.5

14.7
9. 7
6, 6
3.1
5.1

3.4
5. 8

15.0
8.3
4. 5
3, 8
6. 7

5.3
1.0
4.2

5.5
1.1
4.4

6.9
1.1
5.8

6,2
.CJ
5.3

7.7
1 .o
6. 7

7.9
.6
7. 3

7.9
.1
7. 7

8.4
.5
7.9

-1. 2
3 .6
2.3
2.4
6 .0

.2
2.8
1.0
4.8
2.3

.8
-1.0
-2.2
•5
3.4

1.1
9.6
7. 7
3.2
3.9

-,4
4.9
4.9
2. 5
3.0

.5
2.5
-2.9
.4
5.6

.9
•5
1.1
.4
5.0

2.l
3.4
-3.6
-1.3
4. 8

1.0
9.7
3. 7
-1.8
6.0

-. 6
5 .5
-1.8
-. 7
9.1

12
13
14
15
16

1.9
1.8
.2

2.3
2.6
-.2

-3.9
-3.9

2.2
1.1
.2
•8
.1

2. 7
2.4
.5
-.2

-.2
-.1
.1
-.2
.1

-.2
•2
-.2

-1. 5
-1 .3

1.2
.1
.2
.8
.1

.6
.1
.6
.1
-.1

18
19
20
21

4.8
2.5
1.2
1 .4
2.2

2.l
.1
-.5
.6
1.9

2.9
.4

CJ
10
11

INSURANCE ♦ PENS I ON RESERVE
u. s. GOVERNMENT
INSURANCE SECTOR

5. 3
1.5
3. 8

5.4
1 .4
3.9

12
13
14
15
16

SECURITY CREDIT
TRADE DEBT
PROFIT TAXES PAYA8LE
NONCORP. PROPRIETORS' EQ.
HI SCELLAN EOUS

-4.3
1.0
-2.0
3.4
2.9

17

INTER8ANK CLAIMS
MEMBER BK. RESE RI/ES
VAULT CASH
FEDERAL RE SER VE FLO& T
MEMBER BK, BORROWING

22
23
24
25
26
27
28
29

.

-.2

l

12.l
8.9
7.1
1.1
3. 2

-a.o
-10.7
-14.5
3. 8
2. 7

.2
.2
.2

33.8

7.9
5 .5
5.2
.3
2.4

DEPOSITS AT FINANCIAL INSTS
BANK ING SYSTEM
DEMAND DEP. + CURREN: Y
TIME AND SVGS.DEPOSITS
SAVINGS INSTITUTIONS

18

25.3

.2

4
5
6
7
8

19
20
21

28.0

.

•

.•

.
. . .

. .

-. l

-.1

4
5
6
T
8

9,6 CJ
1.2 10
8. 5 11

17

-4.4
TOTAL DEBT ABOVE
OEDUCT- -FLOATS NOT INCLUDED IN ASSETS
DEMAND DEPOSITS-U.S.GOVT.
.6
OTHER
.4
-2. 0
TR ADE CREDIT
DEOUCT--LUBILITIES NOT ALLOCATED A S ASSETS
-.l
TREASURY CURRENCY
TAKES PAYABLE
-.6
HI SCELLANEOUS
2. 8

44.4

36.7

24.5

70.4

61.l

62.l

56.6

55. 3

83.5

-1.6
.9
-2 .8

•1
-.3
.1

•1
.3
-.3

-.2
,6
-2.7

•3
.2

-.6
1. 7
-2.9

.2
•2
1. 3

.6
.2
-1. 5

-.4
.B
-1. 7

.4 23
.3 24
-2.3 25

-.2
2.1

.2

1.4

.3
1. 8

-.1
.2

-.1
.8
3.9

2.1t

.6

-.1
-. 6
2.0

l .3
3.0

26
.4 27
3.5 28

-5.5

45.9

36.6

23.0

70.6

60.5

59.4

52. 0

54,6

80.5

63.6 29

TOTALS ALLOCATED TO SECTORS
AS ASSETS


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

•

.

.

65 .8 22

. .

FEBRUARY, 1970
TOTAL CLAIMS

TOTAL CLAIMS

25

25

TOTAL Fl NANCI Al ASSETS AND LIABILITIES
I Bl LLIONS OF DOLLARS I

YEAR TOTA LS, 19 57-68
YEAR TOT AL S, 1957-68
------------------------------ - -- ------ ---------------------------------------------------------------------------------------l 967
196 8
1966
1965
1957
l 'l5 8
l96lt
1959
1963
1961
1960
1962
------·---------------------------·--------------------------------------------------------------TOTAL FUNDS RAISED AND ADVAPCED IN CREDIT M ARKETS
-------------------------------------------------------------------------------------------�.-l
2
3
6
7

8
9

10
11
12
13

lit
15
16

FUNDS RAISED IN CREDIT MARKE TS BY-NONF IN ANCIAL SEC TORS
30.6
FE DERAL GOVERNMENT
-2. 2
FOREIGN
l.4
PRIVATE DOMESTIC
31. 5
HOUSEHOLDS
12.9
FARM BUS !NESS
l.l
NONF ARM NON CORP. BUS.
.9
CORPORUE NONFIN. BUS.
12. l
STATE + LOCAL G OVTS.
4.6

F INANC !Al SEC TORS
3.7
SPONSORED CR. AGENCIES
l.l
SAVINGS ANO LOAN ASSNS.
FINANCE COMPANIES
1.2
INVESTMENT COMPANIES
1. 2
•3
COMMERCIAL BANKS
EQUALS--TOTAL FUNDS RA I SE0 ANO ADVANCED
34.4
IN CREDIT MARKETS

17
18
19
20
21

NET ACQUISITIONS BY: PRIVATE DOMESTIC
NONF IN ANC IAL SECTORS
7.2
6. 3
HOUSEHOLDS
NONFARM NONCORP. BUSINESS
.2
NONFINANCIAL CORPORATE BUS.
.1
.6
STATE ♦ LOCAL GOVTS.

22

u.s.

GOVERNMENT

23 FINANCIAL IN STITUTIONS
SPONSORED CREDIT AG ENCI ES
Zit
25 FEDERAL RESERVE SYSTEM
26 COMMERC I Al BANKS

24.9
6.lt

82.6
n.o
4.l
65.5
19.7
3.5
5.0
29. 3
7.9

97.lt
13 ...
3.0
81. l
31.8
2.9
5. 2
31.0
10. 2

12. l
2.3
•8
5. 2
3.1
.e

ll.'5
lt.8
.1
2. 8
3.7
•l

1. 3
-.6
-1 .7
.9
2. 5
.2

15.l
3.5
1. l
5 .5
,._ 7
.2

74.l

8 2.5

80. 0

83. 9

6.9
4.0
.4
l.6
.9

6.0
2. 5

1 8. 9
ll.9
.5
3.1
3.4

-.8
-1.4
.5
-1.1
1.2

l.lt
l.6
10.1
5.7

51.3
7.l
.a
43.4
21 .5
1.9
2. 3
ll. 5
6. 3

36.9
-2. l
1.9
37.l
17.7
1.0
1.7
ll.3
5.4

46.9
7. 2
2 .5
37.l
15. 3
1.6
2.3
12.lt
5.5

54.l
1.0
2.l
lt5 .o
20.8
2.3
3.4
12.7
5.8

57.7
't.O
3.'t
50.3
2lt.8
2.6
...5
12.'t
6.1

66.9
6.4
4.9
55.5
27.9
2.6

10. It
l.7
2.6
66.0
28. 8
3.3

68. 5
3. 5
1.5
63.lt
23. 2
3. 5

13.7
6.0

20. 5
7.6

l. 2
.l
.4
-.7
l.4
.1

a.o
2. 3
1.1
2 .7
l.7
.1

4.9
.6
-. 3
2.9
l .5
.1

4.8
•7
1.0
1. 0
1.9
.2

7 .2
1.5
1.2
2 .6
1. 8
.1

8.9
1.4
1.9
't.O
1.2
•3

7.2
•3
4.1
1.9
.6

42. 6

59. 3

41.8

51. 6

61.3

66.6

"· 2
3.0

20 .2
10.9
.2
7.9
l. 3

2. l
4.5
•3
-3. 9
l. 2

4.6
3.0
•2
.6
•8

2.2
-.8
.4
l.'t
1.2

5.3
1.3
•3
2.6
l.l

41.lt
9. 3
2. 3
29. 8

u.o

.a
.4

5.4

_,.

5.8

...

.5
2.5

5. 5

,.

5

6
7

8
9

10
11
12

13

l't
15

112 .5 16
15.2
5.5
.7
8.3
.7

17

18
19
20
21

.6

l. 5

1. e

1. 0

l.6

2 .o

1.5

2. 8

2. 8

lt.9

4.6

5. 2 22

26.0
l.3
-.7
5.4

36. 9
•3
2.l
14. 7

34.l
2.2
.3
lt.6

37 .4
1.2
•7
8. 7

44. 5
1.0
1. 5
14. 7

55.6
1.6
2.0
18.5

58. 8
1.6
2.9
18.8

63.9
•7
3.4
2 l.9

H.O
2.2
3. 8
29.0

58. 0
5.l
3.'5
16. 2

77.3
-.l
lt.8
35.5

89.8 23
3.2 Zit
3.7 25
38.0 26

27
28
29
30

PVT. NON BANK FINANCE
MUTUAL SVGS. BANKS
SVGS. + LOAN ASSOCIATIONS
CREDIT UNIONS

20.0
1.a
5. 0
.5

19. 8
2. 5
6.3
•3

26.9
1.6
8 .4
•7

26.7
1. 5
7.3
•7

27 .3
2.1
9.4
.4

33. 5
3 .2
10.3
.6

35.7
3.'t
13.3
•7

37.9
4.4
11.0
.9

39.0
3.9
9, 6
1.0

33.2
2.7
't.2
1.0

37.l
5.2
9.2

.B

ltlt.9
4.3
10.0
1.2

27
28
29
30

31
32

5.0
.8
2.9
l.6

5.l
.9
3.l
l, 5

5.2
1.6
3 .5
2.0

5.4
1.0
3 .8
2. 2

5.7
1. 2
3, 8
2,4

6.5
l.5
lt,O
2.4

6.7
1,0
...3
2.1t

7.4

31t

LIFE INSURANCE COMPANIES
OTHER INSURANCE COMPANIES
PVT, PENSION FUNDS
S,+ l,GOVT, R TR, FUNDS

8.2
1, l
5. 2
3,3

e.l
1. 9
5,5
3. 8

8.4
2.l
5.4
lt.5

8.6
3.0
5.8
It. l

31
32
33
31t

35
36
37
38
39

FINANCE COMPANIES
OPEN-ENO INVESTMENT cos.
SECURITY BROK ER S + DEALERS
A GENC IES OF FGN. BANKS
BANKS IN U,S. PDSSESIONS

1. 0
.9
.5

-.9
1. 2
-.4
•1
.1

2, 6
l.lt
•l

.

2.9
l.l
.6
•2

.a
l, 3
-.1
,2

2 .3
1,4
1.1

lt.3
•7
-1.0
-.2
•l

5. 2
2.0
-.4
-.1
.1

2.1t
2. 5
,1
•l
•l

.7
.9
-.6

5.2
2.4
-.l
•1
•l

37

33

itO REST OF THE WORLD

.6

34.4
,4

.

42.6

.6

-.3

-1. 8

59. 3

41. 8

51,6

61,3

66.6

71t.l

82.5

80.0

83.9

112.5

-.4

.3
,1

-.6

,1

•2

.9

1,l
.1

2. l

15 ,4
5.9
.1
5 .e
9 .5

26,3
15.0
5,6
9.lt
11.3

33.2
20, l
,. .5
1'5.6
13,l

35.3
20.l
5.8
llt.3
15,2

37 .8
22.0
7.lt
lit .5
15.9

lt0.8
27.7
7.6
20.0
13. l

22, 8
15.9
2.6
13.3
1.0

55.l
38.l
llt.3
23.8
17. 0

lt3. 7
31.3
10.7
20.6
12.4

12,2
1. 0
11.2

12 .8
l• l
11.1

13.9

1.3
12,6

15.2
l,lt
13.9

17.l
l,lt
15.7

l 8,l
l.lt
16.7

20 ,1
1.1t
18. 7

19. 5 9
1.3 10
u.2 11

2. 5
5.5
1.5
-2.1
10.9

-,l
lt,1
1.2
-3.2
10.9

.9
CJ. 8
1.7
-1.9
13.6

9.3
.2
-lt.l
18.3

5 .6
6.0
-It.l
-lt.6
16.5

lt.4
8.'t
3.5
-3.2
2ft. l

•7
1.0

.3

3. 2
.9
1.3
1.0

.

e. CJ

10
11

INSURANCE + PENSION RE SERVE
u. s. GOVERNMENT
INSURANCE SECIDR

9.5
•5
8.9

10 .o
1.0
9, 0

ll.4
1.0
10.4

11.6
1.0
10.6

12
13
lit
15
16

SECURITY CREDIT
TRADE DEBT
PROF IT TAXES PAYABLE
NONCORP, PROPRIETORS' EQ,
M l SCELLANEOUS

-.3
2.l
-2.0
-1.1
7,6

1,7
4.9
-2. 5
.5
6. 7

,1
6.7
2.lt
-'t.6
8.2

2.3
-1.5
-3.3
10.6

_,.

-2.9
8.9

5.9
l. 2
-2.1
8,6

17

INTERBANK CL AIMS
MEMBER BK, RESERVES
VAULT CASH
FEDERAL RESERVE FLOAT
MEMBER BK, BORROWING

.1
-.2

-.7
-.5
-,1
-.1

.1
-.3
-.2
.3
.4

-.9
-1.l
.3
.3
-.It

l. 2
.3
,3
.5
.1

1.3
.1
•7
•6
-.1

85.9
TOTAL DEBT ABOVE
62.0
OEOUCT--FLOATS NOT INCLUDED IN ASSETS
-.2
,l
DEMAND DEPOSI TS-U, S,GOVT.
OTHER
-1.l
.3
-2.9
TRADE CREDIT
-. 9
DEDUCT--LIABILITIES NOT A LLOCATED AS ASSETS
TREASURY CURRENCY
-.1
-.1
.3
TAXES PAYABLE
1.8
2. 8
MISCELLINEOUS

94.5

75,9

107.0

1.0
-1.lt

.

-.2
l,7
-3. l

-.1
3 .3

86.l

91. 7

22
23
21t
25
26
27
28
29

.

- .z

e.o

.

TOTALS ALLOCATED TO SECTORS
A S ASSETS


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

61.8

39

2. 3 lt O

.CJ

.

...

2.3
6. 7

.e

.

-. l

...

·"

.

...

2. 8

38

1.5

10.9
2,4
l.4
1.0
a.1t

18

...

•l

.e

22. 7
13, 8
5,8

19
20
21

•5

35
36

1. 3

11.7
lt.8
-.7
5,5
6.9

9

.6

3. 2

DEPOSITS AT FINANCIAL INSTS
BANKING SYSTEM
DEMAND DEP. + CURRENCY
Tl ME AN O SVGS .OEPOSITS
SAYINGS INSTITUTION S

6
7
8

3. 9
1.0

---------------------------------------------------------------·----TOTAL CLAIMS ANO THEIR RELATICN TO TOTAL FINANCIAL ASSETS
-------------------------------------------------------------------------------------

l TOTAL CREDIT MARKET DEBT
IFROM PRECEDING TABLE I
OTHER DEBT FORMS-FOREIGN EXCHANGE
TREASURY CURRENCY

,.
5

.

,1

,9

4.5
2. 8

l

... ,.
5

6
7
8

12

13

14
15
16
17

.6
-.3

-.4

•
.1

.3
-.It
-.1

z. 3
1. 3
.6
.3
.1

1.6
1.2
.5

122,lt

133 .9

lltl. 5

165.3

1u.2

181.8

2 18 .4 22

1.0
-3.0

-.6
-3.0

-. l
-3.2

-.It
.CJ
-3.9

-5.9

2. 5

-.3
.3
-3.9

•l
2.1
--lt.9

.4 23
1.9 24
-8.2 25

-.1
4.2

-.1
-.4
3.3

.3
3.0

-.6
2.9

.2
-. l
4.3

•l
.4
4.8

.2
•7
1.lt

.2
.5
5.3

.2 26
• l 27
15 .o 28

73.4

106.2

122.3

134.8

140.4

163. 2

143.9

177.9

209. 0 2 9

.

•

...

•

.

-.4

.

•

...

•

18

19
20
21

FEBRUARY, 1970
MONETARY AND INSURANCE RESERVES

MONETARY AND INSURANCE RESERVES

GOLD, OFFICIAL FOREIGN EXCHANGE, TREASURY CURPENCY, AND INSURANCE RESERVES
{ Bl LLIONS OF DOLLARS l

26

26

YEAR TOTALS, 19,,6 -56

Y EAR TOTALS, 1946-56
1945

1947

1 946

1948

1949

1950

1951

•4
- .1
•5

-1. 2

-.3

.3

- l.2

-. 3

•3

1
2
3

.2

•2

•5

•7

.7

•5

4

-.l

-.2

- .l

.6

5

-. l

-.2

-.1

.1

•2

.1

.1

.l
- .1

GOLD

4 MEMO--TOTAL WOR LO GOLD STOCK

11.

u. s.

.6
.2
•5

2 .2
- .l
2. 2

l. 5

•2

-1.7

1.5

•2

-1. 7

.4

•5

•4

.5

•3

- .2

l. 2

.4

•2

-. 2

1.2
2. 8
l .3
•3

.4

.2

-.4

-.2

1956

.1
.1

GOLD AND OFFICIAL FOREIGN EXCHANGE HOLDINGS

I.

1955

19 5 3

------------------------------------------------

NET CHANGE IN U. s. GOLD STOCK
u. s. GOVT.I EX. STAB. FUt-0 l
MONET ARY AUTHORITIES

1954

1952

. .

FOREIGN EXCHANGE POSITI ON

5 TOT-. U. S.POS IT ION
6
7
8

OFFICIAL FGN. CURRENCY HLDGS
TREASURY
FEDERAL RESERVE

9
l0
11
12

NET I MF POSITION
CAP I TAL SUBSCRIPTION
LESS-IMF NOTES
IMF DEPOSITS AT F. R.

•2

.3
-.2

111. TREASURY CURRENCY
13 TOTAL U. S.GOVT. L IA8 IL ITV
14 MONETARY AUTHORI Tl ES ASSET
15 UNALLOCATED ASSET

.1
•2
-.1

.
.1

.l
-. l

. .

.
..

-

.6 9
10
-.6 11
12

13
.1 14
15

INSURANCE ANO PENSION FUND RESERVES
LIFE INSURANCE RESERVES--

4

•

NET CHANGE IN LIA81LITIES
u. s. GOVERNMENT
LIFE I NSU RANCE COMPANIES

3.8
1.2
2. 6

3.1
.6
2. 5

2. 8
•2
2.6

2. 7
.l
2.6

2.9
•3
2.6

2.6
.2
2. 5

2.7

3. 0
.l
2.9

2. 7
-. 3
3.0

2 .8
-.2
3.0

3. 1

NET IN CREASE IN ASSETS
I HOUSEHOL OS l

3. 8

3 .1

2. 8

2.7

2.9

2.6

2.8

3.0

2. 7

2 .8

3.4

NET CHANGE IN LIABILI TIES
u.s. GOVERNMENT
INSURANCE SECTOR
LI FE INSURANCE CO"IPAN IE S
PRIVATE PENSION FUNDS
s. ♦ L. GOVT. RTR. FUNDS

1. 5
.4
1.1
.4
•5
•3

2.2
•8
1.4
.5
.6
•3

2. 5
•8
l. 6
.6
.6
.4

2.8
l.o
1.8
.6
.6

3. 5
•7
2. 8
1.0
1.1
.1

4.9
l. 0
3. 9
1.1
1.0
1.0

5.0
•5

•5

3.9
.8
3.2
•8
l. 7
•7

1.1
2.0
l. 3

5.2
.4
4. 8
l. 2
2.1
1. 5

5.6
•7
4.9
l.3
2.3
1.3

6. 2 5
.9 6
5. 3 7
l. 2 8
2.1 9
1... 10

NET INCREASE IN ASSETS
{HOUSEHOLDS!

1. 5

2 .2

2. 5

2. 8

3.9

3 .5

4.9

5.0

5.2

5. 6

6.2 11

2. 8

3.4
•3

4

PENS ION FUND RE SERVES --

8

9
10
11


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

4.4

FEBRUARY, 1970
MONET ARY ANO INSURANCE RE SERVES
27

MONE TARY AND INSURANCE RESERVES
27

GOLD, OFFICIAL FOREIGN EXCHANGE, TREASURY CURRENCY, AND INSURANCE RESERVES
I BILL IONS OF DOLLARS I

YFAR TOTA LS, 1957-68

YEAR TOTALS, 1957-6B
1957

195B

1959

1960

1961

1962

1963

1964

1965

I 966

1%7

1%B

GOLD ANO OFFICIAL FOREIGN EXCHANGE HOLDINGS
I.

GOLD

N ET CHANGE IN u. s. GOLD STOCK
u. s. GOVT.I EX . STAB . FUNDI
MONET ARY AUTHORITIES
4 MEMO--TOTAL WORLO GOLD STOCK

.

.

•8

-2. 3

-I. l

-1. 7

-.9

-.9

- .5

-.1

-1.7

-.6

-1 .2

.8

-2.2

-1. l

-1. 7

-.9

-.9

-.5

-.1

-1.1

-.6

-1.2

-1 .2
.4
-1.6

.1

.7

.8

.3

.6

.4

.8

•7

•2

-1.6

-.9

-.4

•3

-.6

•2
.1
.1

.

I I . U.S. FOREIGN EXCHANGE POSITION
5 TOT.IL U.S.POSITION

.4

.

OFFICIAL FGN. CURRENCY HLDGS
TREASURY
FEDERAL RESERVE
9
lO
11
12

NET IMF POSITION
CAP ITAL SUBSCRIPTION
L ESS-IM F NOTES
IMF DEPOSITS AT F. R .
111. TREASURY CURRENCY

13 TOTAL U.S.GOVT. LIABILITY
14 MONETARY AUTHORITIES ASSET
15 UNALLOCATED ASSET

.

.4

1.4
1.3

-.3

.

•l

•

•l
-.1

•.1

.1
.1

. .

- .1
.1

·"

.1
.1

.1

•3
•3

•5
.3
•2

4

1.1

2.1

5

1.0
.3

1.2

6
7
8

.1

•1

.5

.

-.4

.1

- .6

- .3

.4

-.1
-.1

.6

.3

.1
.3
•2

-. 5
-.3
•2

-.8

.1
-.7

.9 9
-.2 10
-1. 1 11
12

.1

.1
.2
-.1

- .2
.2

•2
.2
.1

•9

.1

·" 13
.2 14
• 2 15

.

.

•7
.2

.5
.2

------------------------------------------------------------------------------------------------ANO PENSION FUND RESERVES
-·I-NSURANCE
-----------------·
---------------------------------------------LIFE INSURANCE RESERVES--

.

l
2
3

NET CHAN GE IN LIABILITIES
u. s. GOVERNMENT
L IFE INSURANCE COMPANIES

2. 7
•1
2.6

2.9
•l
2.9

2.9
.1
2. 8

3. 2
.1
3.1

3.4
.1
3.3

3.7
.1
3.6

4.1
.1
4.0

4.3
.1
4.2

4. 8
.1
4. 7

4.6
.1
4.5

4.8
.1
4. 7

4.5

4

NET INCREASE IN ASSETS
I HOUSEHOLDS I

2.1

2.9

2.9

3. 2

3.4

3.7

4.1

4.3

4.8

4.6

4.8

4.5

NET CHANGE IN L IAB IL ITIES
u.s. GOVERNMENT
INSURANCE SEC TOR
LIFE INSURANCE COMPANIES
PRIV ATE PENSION FUNDS
s.+ L . GOVT. RTR. FUNDS

6. 7
.4
6.3
1.6
3.1
1.6

7. l
.9
6. 2
1.5
3.2
1.5

8.5
.9
7.6
2.0
3. 7
2. 0

8 .4
.9
7.'5
1.3
4.0
2. 3

s .8
.9
7.9
1.4
4.0
2 .5

9.1
1.o
8 .l
1.4
4.2
2 .5

9. 7
1. 2
8.6
1.1
4.5
2.4

10.9
l .2
9. 7
2.o
4.9
2. 8

12. 3
1. 3
11.0
2.1
5.6
3.3

13.4
1.3
12. 2
2. l
6. l
4.0

15.3
1. 3
14.0
2.6
6, 7
4.6

14.9 5
1. 3 6
13. 6 1
2.9 8
6.4 9
4. 3 1 0

NET INCREASE IN ASSETS
I HOUSEHOL OS I

6. 7

7. l

8.5

8 .4

8. 8

9.1

9. 7

10.9

12.3

13.4

15.3

H.9 11

4.6
4

PENS ION FUND RESERVES-5
6

1

8
9
10

11


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

FEBRUARY, 1970
MONEY AND DEPOSITS SUMMARY

MONEY ANO OEPOS ITS SU'IMARY

MONEY SUPPLY ANO TIME ANO SAYINGS ACCOUNTS

28

---------------------------------------------

YEAR TOTALS, 19'o6-56

1945

1946

19'o7

191t8

19'o9

1950

DE MANO OE POSITS ANO CURRENCY
---------------------------------

-l'o.5
-. 7
-.6
-.4
.3

1.2
-1.1
-.5

COMMERCIAL IIANKS
GOVT. OEP.
u.
FOREIGN OEP.
OTHER

-13 .8
-21. 5

2.2
-1.6
.2
3.7

10 NET I NCR. IN ASSETS
u.s. GOVT DEPOSITS
11
MONEY SUPPLY
12

-lit. 5
-22.1
7.6
7.6
3. 0
2.8

1 NET INCR. IN BANKING SYS. LIAB
MONETARY AUTHORITIES
2
u. s. GOVT. CASH + OEP.
3

"

5

6
7
8

9

13
14

15
16
17
111
19

FOREIGN DEPOSITS
CURRENCY

,,

-.3

·"
7.3

s.

OOMESTI C SECTORS
HOUSEHOLDS
NONFJNANCIAL BUSINESS
STATE ANO LOCAL GOV TS.
FINANCIAL SECTORS
MAil FLOAT
REST OF THE WORLD

__

1.2
-2.l
3.3
3 .5
-2.0
3. 7
.6
.3
.9
-.2

•7

.

1 NET INCREASE - TOTAL
2 AT COMMERCIAL BANKS - TOTAL
CORPORATE BUSINESS
3

6.5
3. 8
.2

6

3.6

7
8

9
10

11
12
13

STATE ANO LOCAL GOVTS.
FOREIGN
HOUSEHOLDS

AT SAV INGS INSTITUTIONS
LIAB ILITIESSAVINGS + LOAN ASSNS.
MUTUAL SVGS. BANKS
CREDIT UNIONS
ASSETSHOUSEHOLDS
CREDIT UNION DEPOSITS
AT SVGS. ANO LOAN ASSNS
MEMO - HOUSEHJL OS TOTAL
TIME ♦ SVGS. ACCOUNTS


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

-.5
.1
•2
•2

__

,.

-.5
1.0
•l

-1.6
-.5
1.2
-1.7
-2.0
- 2 .3
.1

·"
.1

YEAR TOTA LS, l 9't6-56
-----------------------------------------1952
l 'l5'o
1953
-------------------------------1955 1956

1951

-.2
-.2

__

.9

1.2

.

-.6
- .1
.6

.8
•7
-.5
.6

5.5
-.3

6.7
.6

5. 3
1.6
.1
3. 5

.1
-.8
-.1
1. 0

-.5
-.1
-1.8
.9
.2
•2
.3

5 .6
5.lt
2. 0
1.7

6 .6
1. 7
lt.9
" ·7
2.1
.3

-1. 3
l.lt
1.6
.6

•
-.8
-.3
.1
-.7

.·"

,,

5.2

__

.4

5 ·"

·",.
-.1
7.1

,.
6.5

__

,,

7.1
.1

·"
•7

7.5
3.lt
2.9
.3
.6
.3
-.5

5.2

__

1.0

6.6
1.3
•1

·".2

•
-.1

.

·"·"
.2

-------------

.
·"
"·"
. .
"·".
"· 5
.1
.3
•1
-.2

2.3
.2
-.2
-.1

1.11
•1
-.1
.1

"5

2 .1
-.5

1. 7

6
7

2.6

lt.5
.3
lt.2
lt.l
l.lt
2.5
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-----·-----------------------------------------------------------------------------------TIME
AND
---------------------------------------------------------------.1

DEPOSITS

",

28

I BILLIONS OF DOLLARS I

.8

17

SAV I NGS ACCOUNTS

3.6
1.4

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12

FEBRUARY, 1970
MONEY .IND OEPOS ITS SUMMARY

MONE Y ANO DEPOSITS SUMMARY

29

29

MONEY SUPPL Y AND TIME ANO SAVINGS ACCIIJNTS
I BILLIONS OF DOLLARS I

YEAR TOTALS, 1957-68
--------------------- -----------------------------------------------------------------------------------------1967
1968
1966
196 5
1957
1959
195 8
1960
1962
1963
1964
1961
-------------------------------------------------------------------------------------------------DE MANO DE POSITS AND CURRENCY
-----------------------------------------------------------------------------------------------

YEAR TOTALS, 1957-68

1 NET !NCR. IN 8ANKING SYS. LIA8
MONETARY AUTHORITIES
2
u. s. GOVT. CASH ♦ DEP.
3
FOREIGN DEPOSITS
4
CURRENCY
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AT SAVINGS INSTITUTIONS
LI ABILI Tl ESSAVINGS ♦ LOAN AS SNS.
MUTUAL SVGS. BANKS
CREDIT UNIONS
ASSETSHOUSEHOLDS
CREDIT UNION OEPOSI TS
AT SVGS. ANO LOAN ASS NS
MEMO
HOUSEHOl OS TOTAL
TIME ♦ SVGS. ACCOUNTS

-


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

5 .6

------------------------------------------------------------------------------------------------TIME DEPOSITS AND S AYINGS ACCOUNTS
--------------------------------------------------------------------------·
--------

1 NET INCREASE - TOTAL
2 AT COMMERCIAL 8·ANKS - TO TAL
CO RPORATE BUSINESS
3
STATE ANO LOCAL GO VTS.
4
FOREIGN
5
HOUSEHOLDS
6
7

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27.7 13

12.1

26.4

fellAUllt'r, 1970

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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1950

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11

"" ,,,.

l'l!Al TOTALS, 1946-H

1 TOTM. NIT ISSUES
IHCLUOEO IN
IC Ol!IIT
MOUS!ttOLD SAVINGS IONDS
J
Olltl!U UC. SAYINGS 10,!tDS
4
$HOH-TfltN IWtll:f:TAIL!
6
ffl'HU OtRl!CT

9
10

llO

1946-'6
lM'

z

1

Sl!CUlllTl 1S

GOYEANlll!NT SICUIUflH IIARKET SUMMH't
fllLLIONS 0, OOlUltS)

•3
.3
.l
•2

79
80
81
82
83

87

FEllllUARY, 1910
G OVT. SECURJT IES

u.s.

u.s.

u. s.

31

7
8
9
10

1957

----------

1958

1959

1960

1961

1962

1963

-.9
-2. 7
-1.9
-. 7
6,9
-7.6

9.0
9.0
-.5
9,5
-2. 8
12, 3

9 .o
7,4
-1.8
9 ,2
5,4
3,9

- 1,7
-2.2
-,3
- 1,9
3,5
-5,4

7.6
6,7
,8
5,9
10, 7
-'t,8

8,3
6,2
,4
5,8
,9
4,9

5,5
4. l
l, 2
2,9
1.3
1. 7

l. 7
,8

-.6

l, 5

,5
-.8
.5
•7

,9
,1
.3
,6

2,l

1,4

•5
1,5
8,3

OTHER
BU DGET AGENCY IS SUES
LOAN PARTICIPATION CTFS,1 ll
SPONSORED AGENCY IS SUE S I 21

ll T OTAL NET ACOUI SIT IONS
U , S,GOVERNMENT UGENCY SEC, I
12
SPONSORED CREDIT AGENCIES
l3
DIRECT MARKETABLE
14
FHLB SPECIAL ISSUE
15
FEDERAL RESERVE SYSTEM
16
StORT-TERM MARKETABLE
17
OTHER
18
19
20
21

FOREIGN
StORT-TERM MARKETABLE
OTHER

22
23
24

PVT, D OMESTIC NONFIN,
SAVINGS BOND S - HOU SEHOLDS
01 RECT Exc. SVGS, BONDS
SHORT-TERM MARKETABLE
OTHER
AGENCY ISSUES
LOAN PARTICIPATIONS

25

26
Z7
28

.

1,4

.,
,l

-.9

9, 0

-.5

.

-. l

-, l

•l

•
•,1• l

-.t,
2,2

•

. .

.

•,4

6,7
5,4
,9
4,5
4. 7
-.2

3.8
1,3
.6
•7
3,0
- 2,3

8, 7
2, 3
.6
1, 8
l,4
.4

12,6
8.9
,9
8,0
8,6
-.6

16 .7 l
10,3 2
•5 3
9 ,8 4
•5 5
9,3 6

l, 3
,2
•8
•3

2, 5

6,3

-.2
1,5

,4
2, l

l, 3
5,l

3 ,t,
,2
4,0
-,t,

6. 3 7
1,4 8
1. 7 9
3, 2 10

5.5

6,7

3,8

-.4
- ,l
-.3
3,5
2,6
.e

,l
-,2
•3
3.7
3. 7

8. 7
l, 3
1,0
•3
.6
3, 5
4.6
-1, l

12,6
-.1

•

.

9. 0

-1,7

7.6

,l
.1

,l

-,l
-,l

,4

1,5
-.9
2,4

1,9
2,4
-.5

,4
,l
,3
2,8
4,8
-2,l

.3
-,1
•7
-1.0
l, 7

13

14
15
3. 8 16
-6.6 l7
10 .5 18

3,0
2.1
.9

,6
.2

,4

,4
-,t,
1,1

l, 3
2 ,2
-,9

,6
-.6
1.l

.5
•l
.4

- .2
-.4
,3

-2. 4
-.8
-1. 6

2,l
l,6
,5

-.1
-1,9
,6
3,0
-2,4
1.2

-2. 7
-.5
-1,6
-2. 8
l, 2
-.5

12. 7
-1. 8
12 ,2
7.4
4. 8
2.3

-5. 3
-.3
-4,8
-4 ,2
-.6
-. 3

-.7
.8
-1,6
,5
-2, l
,l

1,3
.4
,6
,9
-.3
.3

4,4

1,2
2,4
1. 7
•7
•8

.6
,9
- .7
-3.0
2,3
•2
,2

2.5
,6
.7
2. 2
-1. 5
•8
,4

e. 5
,6
3, 3
•8
2, 5
4. 8
-.2

-2.e
,9
-3.8
-2,6
-1.2
-.3
•5

8, 9
,5
4,6
6,5
-1. 9
3.4
.4

22
23
24
25
26
27
28

-1,9
l, 3
z. 2
-.9
•7

-2.6
-.5
-1, 8
-2.2
,4
-.4

5.0
-1. 8
5 .3
3 .5
l, 8
l, 5

-.5
-. 3
,1
-2 ,8
2,8
-. 3

.e
-1.4
-.9

-.1

,l
,4
-. 7
,2
-.9
,3

3, 5
1. 2
1,9
2, 7
-.8
,4

z. 2
,9
,5
-1.4
1,9
•8

2, 2
•6
l, 3
3,l
-1. 8
,2

7. 3
,6
2, 6
l, 3
l .3
4. 2

,6
,9
-1.3
-2,3
1,0
1,1

7, l
•5
4,4
6.4
-2, 0
2, 2

29
30

-5 .4
-5.4
-2.0
-3.4

-.2
-.3
•5
-,9
.l

.5
.4
-.2

•5
•2
- 1.0
1.1
.4

-l.5
-1,0
-.8
- .2
-.5

-1.6
-2. 0
-2. 2
•2
.4

-1. 2
-1.5
-1.4
-.1
.4

-3,l
-1.6

l. B
l, 0
.4
.6
•8

35
36

,6
.6
,6

•2
,1
.9

•3
•3
.4

-.l
-.2
-.8
.6
,1

l. 9
l. 3
l. 2
,1
•6

2 .4
2. 2
.9
l, 3
.1

.l
-.e
-. 2
-.6
.8

40
41

-. 1

.e
.8
.9
-.1

-5. 2
-.1
.5

5.8
10.4
-5. 3
.4
,3

1,4
-5,7
5.7
•9
.5

-2,6
-3. 5
.6
•5
-,2

.4
4.l
-4.4

-3.6
-4.8
l. 4

,6

-2. 3
-1. 9
-1. 2
1.1
-. 3

l.l
-1,5
.3

,6
1.4
-.9
.1

2.0
•8
.9
.3

-.l
-1,4
1.0
.2

2. 2
1.0
,9
,4

-.1
- .3
-. 3
•5

.4
l. 3
-1,4
.5

,4
.3
-.1
,4

1,0
.9
,9
,l

,6
•5
•3
,2
.1

.5
.4
•l
.3
,l

-,l

-.2
-.3

-, l

,1

-.3
,l

-,l
,l

.

.

.

•2
-.1
,3
-.2

40
41
42
43
44

STATE + LOCAL GOVTS.
DIRECT
SHORT-TERM MKT.
OTHER
AGENCY ISSUES

•3
.3
1,0
-. 7

-.l
-,l
-.6
.5

l,l
l ,0
1. 8
-.e

45
46
47
48
49

C OMMERCIAL BANKS
SHORT-TERM MARKETABLE
OTHER DIRECT
AGENCY ISSUES
L OAN PARTICIPATIONS

3,4
-3.4
•5
-.5

8,6
8,0
,l
•5

-8,4
-3,9
-3,4
-.5
-.6

50

PRIVATE NONBANK FINANCE
SHORT-TERM MARKETABLE
OTHER DIRECT
AGENCY ISSUES

-.2
•8
-1,5
.5

.8
•8

l, 3
.4
•5
.4

,6
.4

,6
,6
•3
,4

.8

•2
,4
,l

,2
,l
-,l
•2
,1

.6
,6
,3
,4

-.4
-.4

-.2
-.3
,1
-.4
.1

-,6
-.7
,1
-.8
,1

-.l
-.1
,2
-.4

-.3
-.3
-.2
-.l

-.5
-.5
-,l
-.4

-.4
-.4
-.1
-. 3

.l
.1
,l
-.1

-.4
-.4
-.l
-.3

.

-,2
-.2
.2
-.4

-,l
-.1
,4
-.5

.l
.1
-,l
.2

•2
.2
,1
.1

- •l
-.2

.l
.1
.3
-,2

,2
,2
,l
.1

,4
•3
.l
.2

.

.

54
55
56
57
58

SVG S,+ L OAN ASSNS,
DIRECT
SHORT-TERM MARKE TABLE
0 THER OIRECT
AGENCY ISSUES

.3
.2

59
60
61
62
63

MUTUAL SAVINGS BANKS
DIRECT
SHORT-TERM MARKETABLE
OTHER
AGENCY ISSUES

-.3
-.4
,1
-.5
.1

64
65
66
67
68

LIFE INSURANCE
DIRECT
SHORT-TERM MARKETABLE
OTHER
AGENCY ISSUES

-. 5
-.5

69

72
73

NONL !FE' INSURANCE
DIRECT
SHORT-TERM MARKETABLE
OTHER
AGENCY ISSUES

-.1
-.2
,3
-.5

74
75
76
77
78

PRIVATE PENSION FUNDS
0IRECT
SHORT-TERM MARKE TABLE
OTHER
AGENCY ISSUES

-.2
-.3
,2
-.4
,l

79
80
81
82
83

S,+ L .GOVT. RTR. F U ND S
DIRECT
SHORT-TERM MARKEU8LE
OTHER
AGENCY ISSUES

•1
,1
.1
.1

84
85
86
87

I NVESTMENT cos. IOIRECTI
SEC,BRKRS,+ OL RS, I " I
AG, OF FGN. BANKS ( " I
BKS,IN TERR.+ POSS. I " I

88

12

.1

6,6
5,9
2, 2
3 ,7
.7

70

-

11

,l

-.4
-,9
-.2
-. 8
.5

71

,9
-.9
4,8
2,7
2.1

16, 7
•l
-.1
-.l

,2
,2

C ORPO RATE NONFIN, BUSINESS
DIRECT
SHORT-TERM MKT.
OTHER DIRECT
AGENCY ISSUES

51

.

•3
-.8
l,l

35
36
37
38
39

52
53

.

2,l
-.8
2,9

32
33
34

3l

.
. .

-.7
-.4
-.3

H OUSEHOLDS
SAVINGS BONDS
DIRECT EXC, SVGS. BONDS
SHORT-TERM MKT,
OTHER
AGENCY ISSUES

29
30

31

YEAR TOTALS, 19 57-68
------------------------------------1966
1964
1965
----------------------------1967 1968

YEAR TOTALS, 1957-68

l TOTAL NET I S SUES
2 INCLUDED IN PUl!ll.lC DEBT
HOU SEHOLD SAVINGS BOND S
3
4
DIRECT EXC, SAVING S BONDS
SHORT-TERM MARKETABLE
!I
OTHER DIRECT
6

G OVT. SECUt ITIES

G OVERNMENT SECURITIES MARKET SUMMARY
I BILLIONS OF OOLLAltS I

.

-.5

.

.

-.4
,l
•2
•3
-.l

.

.

-.2
.1

..
..

.1

•3
.2
,1
,l

,2
,2
•1
.1
,1

.

.

,l
2.2

1.0

.

.\

-.3
.l

-.6

-,l

,1

. .
.

•1

-. 1

-1. 0
-1,4
-.3

-.9

•3
-1,2
.6

-.9

.

-2.0
.3

1,6
1. 7
-1,4
l. 3

50
51
52
53

,4
.4
.4
- .l
•l

l, 6
1.5
1.1
.4
•2

.6
,3
-,l
.4
•3

54
55
56
57
58

-.3
-.3
,1
-.4

-.5
-. 7
-. 2
-.6
•2

-.3
-.5
,l
-.6
.2

-.3 59
-.6 60
61
-.6 62
.3 63

-. 3
-. 3

-.4
-.5

-.3
-.3

-.3
-.2

-•3

-.4

-,4

-.3

-.2 64
-. 2 65
.1 b6
-.3 67
68

-. 2
-.l
-, l
•2

-. 4
-.5
-. 3
-.1
.1

-.1
-.1

-.l
,1
.1

-.l
.1

-. 5
-.5
-.2
-.3

.6

•4
•2

•2
,l

.6

•2
•2

.l

. .
. .
. .
,l

-.3
•3
,l
.1

-.2

.

•

1

.
.

-. 1
-,6

-.4
-.4
-.2

•3

.4

.4
,4

,2
,1

,l
,l

.3
.l

.4

.2
-.2

.1
•6
,l

,l

,2

•7

-1.3
-. 2

,5

- ,l

.l

.1

-.5
-.8
,6

-.4
5.6
6. 7
MEMO: HELD BY PVT. DOMESTIC
INONFINANC !AL, BANKS, ANO PVT. NONBANK FINANCE I

-3. 2

5, 7

4,7

l,6

3. 2

.1

5. 3

5.7

.2
-.1

I ti WHERE NOT SHOWN SEPARATELY, LOA N PARTICIPATIONS ARE INCLUDED WITH
AGENCY ISSUES
ISSUES ARE OUTSIDE THE BU DGET
121THESE

SECT OR IN FLOW-OF-FUNDS ACCOUNTS,
DEBT OF FINANCIAl INSTITUTIONS.
https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

ANO OUTSIDE THE U.S. GOVER NMENT
THEY ARE I NCL U OEO IN CREDIT MARKET

42

43
44
45
46
47
48
49

,\

.l
•2
,l

37

38
39

2. '!
1. 5
•2
1,1

,2

.

31

32
33
H

9,4
5. 3
,9
,3
2,9

•3
•2

•5
,4
.1
.3

-.5 19
-2,4 20
1,9 21

-..5\

,1

-. 3

.6

-. 2
.2
-.4
.2

.

.

-.3
-,4
,l
-.5
,l

.
.

69

70
71

72

73

• 5 74
.4 75
,3 76
11

.l 78
-.4
.l
-,4
.4

.

79

80
81
82
83

• 2 84
• 8 85

.I 86

87

13, 3 88

FE81tUAltY, 1910
,1t1VATE SECUltJTIES ANO IIOltTGAGES

PRIVATE SECURI Tl ES ANO MOltTGAGES

YEAR TOTALS, 1946-56

YEAR TOTALS, 1946-56
--------------------------------------------------------1956
1955
1951
1954
1950
1952
1953
----------------------------------------STATE ANO LOCA L GCVERNMENT SECURITIES
---------------------------------------------------------------------------------------------1945

NET CHANGE IN LIABILITIES Of
STATE ANO LOCAL GOVERNMENTS
2
3
4

NET CHANGE IN ASSETS
s.+ L. GOVT., GEN.FUNDS
s.+ L. GOVT., RTR • FUNDS

5
6

OTHER
HOUSEKlLOS
CORPORATE IIUSINESS
COl!MERCUL BANKS
IIJTUAL SAVINGS BANKS
L IFE INSURANCE cos.
OTHER INSURANCE cos.
FINANCE N.E.C.

1

8

9

10
11

12

1946

194'1

.
.
. .. . . .
. .
.
2. 2

2.6

3.3

2 .2

2.7

4.4

6.0

5.2

3 .8

1

•

2.2

4.4
•2
•2

6.0
•2
•3

3.8

.2

2.7
.l
.2

5.2

.1

3.3
.3
.2

2. 2

.1

2.6
.3
.2

.3

.4

2
3
4

.3

l. 3
.4

.4

.9

2.0
1. l
.1
.4

2.l
•7
.l
.9

2.8
.6
.2
1.6
•1
•3
.1

•3

.4
-.2

4.0
2.l
.1
.6
.1
.2
.7
.2

5.6
2. 3
.1
1.8
•2
.6
•8
-.l

3.4
2. 3
.1
.2

.2
•3

2.5
1.0
.1
1.0
.2

4.8
3.4
.2
.1

•3
•2

2.0
.4
.1
1.1
.1

4.1!
4.3
.4

3.3
2.9
.4

2.3
1.6
.4

3.9
3.3
.3

5.0
4. 7
•3

4.6
3.4
1.4

3.8
3.5
•3

4.0
2 .8
1.4

•3

•3

-.l

-.2

3.3
-.4

2.3
-. 8

5 .o

4. 6

.2

.2

.1
-.1
•3

•2

3. 8
-.4
.1
-.2
.I

4.0
1.1

.2
.2

3.9
-.2
•2

.

-.I

4. 8
-.2
.1
-.3
.4
4. 8
4.2
•3
.1
•1

3.0
2.6
•3
.1

3.0
l.8
l .O
.2

3.6
2.7
•7
.1
.1

4. 5
3.l
1.1
.2
.1

4.4
2. 8
1.1
.5
.1

3.8
2.0
1. 3
.6
•1

3.3
I .8
.9

•2
.1

-.l

•1

.1

•2

.2
.1

..

1.6
•3
l. 3
1. 3

l.7
.2
1. 5
1.4
.1

2.4
•3
2.1
1.9
.1
.1

3.0
.5
2.5
2.3
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.1

2. 3
.4
1.9
1.8
.1
-.1

2.6
.5
2. l
1.6
.2
•3

2.9
.9
2.1
1. 9
-.1
.2

3. 8
1.1
2.7
2. 3
•3
.1

1.2
1.0

1.6
.8

1. 7
•7

2.4
1. 5

.5
•2
.1
.l

1.0
•3
.5
.1

.5
.1
•3
.1

2. 3
.9
.1

z. 6

•2

3.0
1.6
.1
.8
.2

2.9
1.1
.1
1.0
.1
•7
.2

3. 8 7
2. 0 8
.1 9
1.1 10
11
.9 12
.1 13
14

.4
.2
•2

.1
-.1

.2
.2
.1
.1

.4
.l
.1

•7
.5
.2
.1

.4
.6
-.2
•3

15
16
17
18

6. 5

10.1

9. 5

14.6

l

-.1

•1
-.1

1.0
1.0
.2

3.0
2.8
.2

1.0
-.9

3.0
-.8

.2

.4

INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENS ION FUNDS
s. + L .GOVT. R TR. FUNDS
OTHER INSURANCE COMPANIES

2.I
1.8
.3

3.4
3.0
.3

F l NANCE N.E.C.
REST OF THE WORLD

-.l
-.3

11
12
13

14
15
16
11

. ..
.
.

-.l

•

.1

1.4
•3
1.1
1.1
•l

1.4
.2
l .2
l .2

1.4
1.1

1.4
1.1

12
13
14

NET PURCHASES
HOUSEHOLDS
MUTUAL SAVINGS BANKS
INSURANCE SECTOR
LIFE IN SURAN CE COMPAN IES
PRIVATE PENSION FUNDS
OTHER INSURANCE COMPANIES
s.+ L. GOVT. RTR . FUNDS

•3
•3
.l

.3
.2
.1

15
16
17
111

F !NANCE N.E.c.
OP EN-END I NYE ST MENT cos.
BROKERS ANO DEALERS
REST OF THE WORLD

7
B
9
10
11

.1
-.1
-.1

•2

.z

7.2

.1

•l

4
5
6
7
8

PRIVATE NONflN. SECTORS
HOUSEHOL OS
NONPROFIT INST.
BUS !NESS
f ARMS
NONFARM NONCORPORA TE
CORPORATE

6.1
3. 8
•2
2. z
.1
.6
1. 5

7.1
4.3
•3
2. 5
.2
•8
1.6

11 FUNDS ADVANCED ev-HOUSEHOLDS
12
ST . +LOC. GOVTS.,GEN FOS.
13
14
u.s. GOVERNMENT
FNMA ANO LANO BANKS
15
16
PVT. FINANCIAL INST.
COMMERCIAL BANKS
17
SAY INGS INSTITUTIONS
18
SVG. + LOAN AS SNS.
19
NUT. SAVINGS 8ANK S
20
21
CREDIT UN IONS

6.2
1. 5

7 .2
l.3
.1
-.1
-.l
6.0
2.2
2.1
1.7
.4

22

23

24
25
26

21

INSURANCE
LIFE COMPANI ES
PVT. PENSION FUNDS
ST. +LOC. GOVT. RET.FOS.
OTHER INSURANCE
FI NANCE N.E.C


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

.

.

-.2
-.3

•5

4.9
3.6
1.0
•3

l
2
3
4
5

4.9 6
.9 1
-.I 8
-.4 9
.1 10
4.4
2.1
1.6
.6

II
12
13
14
15
16

1.2
.1
1.l
1.0

.1
.1

.1
.1

..
.

. .

.s

.2

.s

.4

.e

.1
•5
•2

.

.4
.4

•7
.1
1. 2
•3
•7
.2

.3

.
.

1
2
3
4
5
6

.1
-.2
-.1
-------------------------------------------------------------------------------------------------TOTA L l'ORTGAGES
--------------------------------------------------·--------------------------------------------6.Z

10

.1

. . .
. . .

1 TOTAL MORTGAGE CREDIT
IIORROWEO BY-S AVI NG S+LOAN ASSNS.
2
3
u.s. GOVERNMENT

9

1
8

9
. 2 10
•7 ll
-.2 12

.1
.1 17
------------------------------------------------------------------------------------------------CClRPCRATE STOCKS
--------------------------------------------------------------------------------------

NET ISSUES
OPEN-ENO INVESTMENT cos.
OTHER SECTORS
CORPORATE BUS !NESS
COMMERCIAL BANKS
REST OF THE WORLD

1
2
3
4
5
6

.2
.8

5
6

------------------------------------------------------------------------------------------------CORPORATE ANO FOREIGN BONDS
-----------------------------------------------------------------------------------------------

NET PURCHASES
HOUSEHOL OS
STATE AND LOCAL GOVERNMENTS
COMMERCIAL BANKS
MUTUAL SAVINGS BANKS

10

. •
. .

1.4

1.4

6

1

1949

.1
-. 3
.1

NET ISSUES
CORPORATE BUS !NESS
FINANCE COMPAN !ES
COMMERCI Al BANKS
REST OF THE WORLD

I

1948

.1

1
2
3
4
5

9

32

PRIVATE SECURITIES ANO l!OltTGAGES
IIIILLIONS r,: OOLLAltSI

32

.

-. 3
-.l
5.1
2.4
2 .o
1. 8
.2

7 .3

7.2
5 .0
.4
l. 8
.2

.s

1.1

.

l.6
l. 5

.1

.1

.s

1.9
•3
•7
.9

10.l
7.4
•5
2.2
•5
•8
.9

.

7. 3
1. 2
.1

6. 5
•7
.1

10.l
.7
.1
.3

6.0
1.4
2.4
l.4
1.0

5.2
•7
2.2
1. 3
.9

9.0
2.0
3.6

.. .. ...
•5
•5

6.4
4.1

2. 2
2 .2

9.1

9. 9

12.4

16. 2

.l

.l

•2

.l

9 .4
7.1
.6
l. 7
.6
.4
•8

9.0
6.4
.5
2. 0
.6
.6

9. q
7.7
•5
l. 7
•5
.3
.8

12.1
0. 6
2.9
•5
•7
1.6

16 .1
12 .2
.6
3.3
•8
•7
1. 8

14.6 4
11. 2 5
•7 6
2. 7 7
.8 8
•3 9
1.6 10

9.5
.9
.1
.6
.1
7. 8
1.0

9.1

9. 9
1.0
.1
.4
.1
8. 3
1.0
5. 2
3. 6
1.6

12. 4
1. Z
.1
.l
.I
10.9
l.7
6.2
4. 1
2.1

16.2
1. 2
.1
•3
•3
14.4
2.4
1 .8
5.3
2. 5

14.6 11
I .5 12
• 2 13
14
.e 15
12.0 16
1.7 17
6. 7 18
4.3 19
2. 3 20
.1 21

2. 2
2.1

2. 8
2.7
.1

3. 6
3. 5
.1
.1

.2

.6

.9

.a

z.o

1.6

l.9
1. 7

.1
.5
.1
7.7
1.1
4. 3
2.8
1. 5

2.1
2.1

3.3
3.2

3. 3
3. 2

2 .o
1.9

.1

.2

-. l

.2

.s

•..
...

�. 6

..

• 7

.

.. . .

3 .e
3.5
.1
.1

22
23
24
25
26
-.1 27

FEBRUARY, 1970
PRIVATE SECURITIES AND MORTGAGES

PRIVATE SECURITIES A ND MORTGAGES

33

33

PRIVATE SECURITIES ANO MORT GAGES
18 lll !ONS Of DOLLARS I

YEAR TOTALS, 1957-68
---------------------------------------------------------------------------------------------------------·---------------------1966
1967
1968
1965
1961
1963
1964
1957
1959
1958
1962
1960
-----------------------------------------------------------------------------------STATE AND LOCAL GOVERNMENT SECURITIES
----------------------------------------------------------------------------------------------

Y EAR TOTALS, 1957-68

.

NET CHANGE IN LIA8 ILIT IES Of
STATE AND LOCAL GOVERNMENTS

4.4

5. 5

6.1

5 .2

5.2

5.3

5.9

5. 7

7.3

5. 7

7. 7

9.9

2
3
4

NET CHANGE IN ASSETS
s.+ L. GOVT., GEN.FUNDS
s .+ L • GOVT., RTR. FUNDS

4.4
.1
.4

5. 5
•1
.4

6.1

5.2

5.2

7.3
-.1
-.3

9.9

-.l

5. 7
-.1
-.4

7. 7

.2

5.9
-.2
-.5

5.7

.3

5.3
-, 2
-.5

5
6

OTHER
HOUS EHOLOS
CORPORATE BUSINESS
COMMERCIAL BANKS
MUTUAL SAVINGS BANKS
LIFE INSURANCE cos.
OTHER INSURANCE cos.
Fl NANCE N.E.C.

3.9
1. 8
•l
1.0

4.9
.8
•5
2.6

5.8
3. l
•7
.4

5.1
3.4
- .2
.6

5.4
l.4

•3
•7

.5
1.0
.1

.4
.8
.1

•3
1.0
-.1

6.7
.8
.2
5.2
-.l
-.2
.7

6. 2
2.0
.2
3.6

.l
.7
•l

6.0
•8
-.3
4.4
- .2
.1
•8
.2

7.6
2. 3
.5
5.l
-.1
-.3
.4
-.2

1

8

9
10
11
12

.

.

.

..

2.8

•
-------------------------------------------

-------------------- CORPORATE
NET ISSUES
CORPORATE BUSINESS
FINANCE COMPANIES
COMMERCIAL BANKS
REST OF THE WORLD

7.5
6.3
.7

6
7
8
9
10

ANO FGREIGN BONDS

6.8
5.7
.2

4.5
3 .0
l.l

5.6
3.5
1.5

5.6
4.6
.5

5 .9
4.6

.4

.5

.4

7. 5
1.0

6.8
1.1
.3
-. l

4.5
.3

5.6
.2

.b

.

.6

NET PURCHASES
HOUSEHOLDS
STATE AND LOCAL GOVERNMENTS
COMMERCIAL BANKS
MllTUAL SAVINGS BANKS

.

.9

- .1
-.1

-.2
.2

5 .6
.3
-.l
-.2
-.l

11
12
13
14
15

INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
s.♦ L.GOVT. RTR. FUNDS
OTHER INSURANCE COMPANIE S

5.4
2. 6
1. 9
.8
.2

5 .o
2. 5
l. 5
.8
.1

4.4
2 .2
1.2
.9
.1

4. 7
l.B
l .6
1. 2
.1

16
17

FINANCE N.E.C.
REST OF THE WORLD

.2
.1

-.1
•l

.2
-.l

NET ISSUES
OPEN-ENO INVESTMENT cos.
OTHER SEC TORS
CORPORATE BUSINESS
COMM ERCIAL BANKS
REST OF THE WORLD

3. 9
1. 2
2. 7
2.4
.3

3.9
1.4
2. 5
2.l
.1
.3

NET PURCHASES
HOUSEHOLDS
MUTUAL SAVINGS BANKS
INSURANCE SECTOR
LIFE INSURANCE COMPANIES
PRIVATF PENSION FUNDS
OTHER INSURANCE COMPANIES
s.+ L. GOVT. RTR. FUNDS

3.9
1. 5
.1
1.4
1.1
.1
.1

3.q
l. 5
•1
1. 7
•l
l.4
•l
.1

.9
.8
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.1

•

- .1
.4
•2

.

.

-.1

-.1

-.1

5.9
2.l
1.0
1.9
-.1
-.4
1. 3

7.8
-2 .1
-.4
9.0

10.0
-.2
.4
8.7

------------------•

.

-.l
1.4
•l

.

l

5

6

1

• 1089
1.0 11
• 12

-----------------------------------------------7.l
4.0
2.l
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8.6
5. 4
1.9
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•5

11.8
l O. 2
•8
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11.2
14.7
1.0
.3
1.2

15.1
12 .9

1.0

6.6
3.9
1.4
.2
1.0

5.9
-.6
.5

6.6
-.6
1.0

8.6
.7
.1

-.l

-.3

7.1
-.5
1.1
.1
-.2

-. l
- •l

ll. B
2.0
1.1
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.3

11.2
4.0
1.5
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2.1

15.1 6
4.6 1
.4 8
.3 9
l .4 10

5.4
2. 5
1.2
l.7

6.0
2.5
l.2
1.9
.3

6.2
2.8
1. 5
1.9

6.1
2.3
1.6
1.q
.3

7. l
2. 8
1. 5
2. l
.6

7. 3
2. 4
1.q
2.5
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8.9
3.8
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3.4

•l
.1

.3

.1

.3
.1

.2
.2

.5
-.1

.4

.1
-. l

4.3
l.7
2.6
2.2
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.2

3. 3
1.5
l.8
1. 6
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4.9
1.9
3.0
2. 5
•2
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2.5
l. 8
•7
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1.1
1. 2
-.1
-.3
.1
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3. 5
1.9
1.6
1.4

.

3.4
3. l
.3

4.6
3. 7

.2

-.1
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4.8
2.5
2.3
2.3

4.0
4.7
-.7
-.8
-.1
.2

l
2
3
4
5
6

4.3
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3. 3
-.4
2 .6
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1.9
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2.5
-2.o
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3.I
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2.2
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1.1
-2.7
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2. 8
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2.2
.2
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3.5
-.1
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3.1
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2.2
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3.4
-1.9
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4.3
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3.l
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4.6
-1. 0

2. 3
.2
I .7
.3
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4.9
.4
.1
3.1
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2. 3
.3
.2

4. 8
.3
3. 7
.4
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4.8
-4.9
.2
7.3
l.l
5.0
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4.0
-7 .7
.3
8.5
1.4
4 .7
l.l
1.3

9
10
11
12

.7
1.0
-. 3
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1.1
1.0
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•8
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•
.2

l. 0
1.0

1.2
l.l
.1
.1

.6
.1
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-.3

1. 2
1.2
.1
-.4

1. 0
1.0

1.5
1. 5

1.0
1.5
-.5
2.0

15
16

12.l

.

15.2

19.l

16 .o

1q. 4

22.4

25.6

25.9

25.6

l

.1

.3
.4

•l
•3

-.l
.4

.4
.2

.4
.3

.5
.1

-.3

PRIVATE NONFIN. SECTOR S
HOUSEHOLDS
NONPROFIT INST.
BUSINESS
FARMS
NONFARM NONCORPORATE
CORPORATE

12.0
8.8
.8
2. 5
.6
•3
l.6

14. 5
8.8
.8
4. 8
•7
1. 2
2.q

18.6
12.6
.8
5.2
1.0
1. 2
3.0

15. 7
10.8
.9
4.1
•7
.8
2. 5

18.8
10.q
.9
7.0
1.1
2 .o
3.9

21.7
12.7
1.0
8.0
1.3
2.2
4.5

25.l
14.B
1.0
9.3
1.6
2.8
4.9

26.l
16.0
1.0
9.l
2.l
3.4
3.6

11 FUNDS ADVANCED BY-HOUSEHOLDS
12
ST.♦LOC. GOVTS.,GEN FOS.
13
14
u. s. GOVERNMENT
FNMA ANO LANO BANKS
15
PVT. FINANCIAL INST.
16
COMMERCIAL BANKS
17
SAVINGS INSTITUTIONS
18
SVG. ♦ LOAN ASSNS.
19
MUT. SAVINGS BANKS
20
CRECIT UNIONS
21

12.l
l.9
.2
.3
1.2
8.6
.6
5. 7
4. 3
1.4

15. 2
2. 3

16.0
2.0
-.1
.2
l.l
12.9
•7
8.9
6.9
1.9

19.4
l.7

.4
-.1
12.6
2.l
7. 7
5.6
2.l

19.l
1. 8
.3
l .3
.9
14.B
2.5
9.4
7.5
1.9
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.4
.2
16.4
1.6
ll.O
B.B
2.2

22.4
1.0
.1
.1
.2
21.0
4.0
13.2
9.9
3 .2

25.6
.3
•l
-.4
-.5
26.2
4.9
16.l
12.2
3.9

2. 5
2.2
.1
.1

2.2
1.8
.2
.2

2.6
2.l
.2
.3

3.3
2.6
.3
.5

3.1
2.4
.3
.4

3.3
2.1
.3
.3

4.3
3.6
.3
.4

l
2
3
4
5

4
5
6
7
8

q

10
11
12
13
14
15
16
17

18

FINANCE N.E.C.
OPEN-ENO INVESTMENT
BROKERS ANO DEALER S
REST OF THE WORLD

•
1

I

9

10

22
23
24
25
26
27

cos.

INSURANCE
LIFE COMPANIES
PVT. PENSION FUNDS
ST.♦LOC. GOVT. RET.FOS.
OTHER INSURANCE
FINANCE N.E.C


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

•

.

.1

.b
---------------------------------------------------------CORPORATE STOCKS
-------------------------------------------------------------------------

l TOTAL MORTGAGE CREO IT
801tllOWEO BY-SAV INGS +LOAN ASSNS.
2
u.s. GOVERNMENT
3
4
5

.1
.6

.b

.J

.

.

.

.

.1

•

.q

•

1.2
-.3

.

..

-.J

•
.5

•• 2

.

••

•1

•

•
.7

•

•.5

•

•.9

.3
l. l

e .o
3 .8
.7
2.4
l .2

•

l
2
3
4
5

ll
12
13
14
15
16

.3 17
--------

1
9

13

14

. •
----------------------------------.1

•3
.7
-.3
---------------------------------------------TOTAL MORTGAGES
------------------------------------------------------------------------------·
-------

.

.e

.

17

18

21. 3

23. 0

27.4

-.9
-.l

1.0
-.l

.2
-. l

25.6
15.2
1. 2
9.2
2.2
3.2
3.9

22. 3
12.3
1. 3
e. 1
2. l
2.4
4.2

22. 0
10.5
1.2
10.4
2. l
3.7
4.5

27. 3 4
14.9 5
1.1 6
11.3 1
2. l I
3.4 9
5.8 10

25.9
.3

25. 6
-.8

21.3
1.4

23.0
1.0

.3
25.3
4.5
14.8
10.4
4.3

l. l
25.4
5.6
13.l
9.0
4.l

.8
2. 6
16.5
4.6
6.5
3. 8
2.7
•l

1.8
19.3
4.6
10.7
7.5
3.2

27.4
1.6
.2
l.l
2.2
22.3
6.6
12. 2
9.3
2.8

5.6
4.6
.5

6.1
4.9
•6

5.<I
4.6
.5
.8

3.6
2.9

-.5

.5

•
-.1
•

•
.5
•5

•
-.l
•

•
.6
.1

.

•

•
.9

.
.•

.1

.5

•

..

11
12
13
14

15

16
17
18

19
20
21

2.8 22
2. 5 23
24
25
26
.1 27

•
•

FEBRUARY• 1970
MORTGAGES. BY TYPE

MORTGAGES. BY TYPE
34

MORTGAGE MARKETS BY TYPE OF MORTGAGE
( BILLIONS OF OOLUIRS I

34

YEAR TOTALS. 1946-56
YEAR TOTALS . 1946-56
--------------------------------------------------------------------------------------------------------------------------1945

1946

1947

1948

1949

1950

1951

1952

1953

1954

1955

1956

7.6
7.7
-. l
- •l

9.6
8.6
.4
.4

12.6
12.2
.1
.l

10.8
ll.2
-.2
-.2

HOME MORTGAGES
5.1
5. 0

..

4 .3
4.1
.1
.1

7 .6
7 .4
.1
.1

6. 5
7.1
-.3
-. 3

6. 8
6.4
.1
.l
.1

.l

.2

.1

5.2
.5
.l

5.l
.5
.1
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4. 3
•2
.l
.5

7 .6
.2
.l
•3

6. 5
•3
.1
.6

6.8
.2
.1
.5

7 .6
.4
•1
•2

9. 6
•3
.1

10.8
.4
•2

7

l.7
l .e
l.7
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l.7
1.9
l.6
.3

1.1
1.9
1.4

l .5
2.9
2. 0
.9

.e
2.8
l.7
1.0

1.0
3.7
2.8
.9

•8

.6

•5
l.8
l. 3
.5

4. 6
3. 4
l. 2

l. 3
5.6
4. 0
1. 6

12. 6
.2
.1
•2
.1
1.8
7 .1
5.0
2.1

•3
•2

1.0
1.0

1.5
1.4

1. 2
1.2

2.4
2.4

2 .2
2.1

1. 2
1.1

l. 5
1.4

2. 0
2.0

2. 6
2. 5
•l
.6

2.6
2. 5
.1
-.l

l7
18
19

•8

.6
.3
.3

2
3

•8

.6
.1

4
5

-.l

7
B

NET CHANGE IN LIABILITIES
HOUSEHOLDS
NON FARM NONCORP . BUSI NESS
CORPORATE BUSINESS
u.s. GOVERNMENT
SAVINGS ANO LOAN ASSNS.

4.4
3.8
•3
•3
.1

.1

4.4
•8

12
13
14
15
16

NET CHANGE IN ASSETS
HOUS EHOLOS
STATE ANO LOCAL GOVERNMENTS
u. s. GOVERNMENT
FED. NAT. MTG. ASSN.
COMMERC !AL BANK ING
SAVINGS INSTITUTIONS
SAVINGS ANO LOAN ASS NS.
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CONSUMER CREDIT ANO BANK L�NS N.E .C.
36

CONSUMER CRED IT lNO BANK LOANS N.E .c;
36

C ONSUMER CREDIT ANO BANK LOANS NOT ELSEll HE RE Cl ASSI Fl EO
181 LLIONS OF OOLLlRS I

YEAR TOTALS, 1946-56
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1956
1951
1947
1950
1945
1946
1948
1952
1954
1953
1955
------·---·
----------------------------------------------------CONSUMER CREDIT
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YEAR TOTALS, 1946-56

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BANK LOANS NOT ELSEWHERE CLASSIFIED

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2

3
4
5

6
7
8

9

10

11
12

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15

16
17
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19
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LESS' CLASSIFIED TYPES
MORTGAGES
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SECURITY CREDIT
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FINANCE CO. PAPER
OTHER COMMERCIAL PAPER
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FEBRUARY• 1970
CONSUMER CREDIT AND BANK LOANS N.E.c.
37

CONSll!ER CREDIT AND BANK LOANS N.E.C.

CONSUMER CREDIT ANO BANK LOANS NOT ElSEWHERE CLASSIFIED
I BILLIONS OF DOLLARS I

---------------.------------------------------------------------------1961
1962
195'>
1960
1958
1957
---------------------------------CONSUMER CREDIT
----------------------------------

37
YEAR TOTALS. 1957-68

YEAR TOTALS• 1957-68

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1968

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NET CHANGE IN ASSETS
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NON INST At.MENT CREO IT
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13
14
15
16
17
18
19
20

NET CHANGE IN LIABILITIES
l()US Et<JLDS
FARM BUSINESS
NCNFARM NON CORP. BUS !NESS
CORPORATE BUS !NESS
SVGS. + LOAN ASS NS.
FINANCE COMPAN JES
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https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

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12

11

1966

•2

LESS' CLASSI FJEO TYPES
HORT GAGES
CONSUMER CREDIT
SECUR I TY CR ED IT
OTHER LOANS
FINANCE CO. PAPER
OTHER COMMERC !Al PAPER
ACCEPTANCES
HYPOTHECHEO OEPOS ITS
EQUALS BANK LOANS N.E.c.
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NET CHANGE IN TOTAL BA NK LOAN

8
9
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1965

2.6

BANK LOANS NOT ELSEWHERE C LASSIFIE O

1

--------------

1964

NET CHANGE IN LIA81l lTIES
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INSTALMENT CREDIT
NON INSTAUIENT CREDIT

TOTAL BANK LOANS AT COMMERC !Al
BANKS, F/F BAS JS
2
3
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OTHER L OANS

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38
YEAR TOTALS, 1946-'6

1
2
3

4

5
6
7

8

9
10
11

12

13

14
15
16
17

18
19
20

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1946

,.,•
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NET INCREASE DI LIAIILITIIS
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NET INCREASE IN ASSETS
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OPEN MARKET '4Ptl•TOTAL

3
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10
11
12

13
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15
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19
20
21
22
23
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40
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OTHER LOANS

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39
YEAR T OTALS, 1957-68

l
2

3

4
5
6

1

8

9
10

11
12
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1'»66
1968
1963
l961t
1965
1962
1957
1959
1961
1958
1960
----------------------------------------------------------------------------------------------OTHER LOANS -- SECTOR TOTALS
----------------------------------------------------------------------------·-----

NET INCREASE IN LIABILITIES
HOUSEHOLDS
FARM BUSINESS
NONFARM NONCORP• BUSINESS
CORPORATE BUSINESS
STATE ANO LOCAL GOVERNMENTS
SPONSORED CR.AGENCIE S
SAVINGS INSTITUTIONS
FINANCE N.E.c.
REST OF THE WORLD
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COMMERCIAL BANK S
MUTUAL SVGS. BANKS
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•2
.3
•3
•2
1. 5

.1
-.1
.2

.4
-.4

•3

1.l

.

.1

1.6
.3
1.2

.5

.8

1 .2

.1
-.1

.1

.1

.2

.2
.1

1. 3
.8

•1
.2
-. 3
.3

.2

.6

.2
•l

•l
.2
-.l
.4

.1
.2
.1
•5

.5

•7

•3
•l
.2

1. 2
•1
.2
.8

.9

1.0

.2

.1
-.2

.1
•7

.2

.4

.4

•5

•7

.4

•3

.4

.6

.6
•1
.5

.2

NONCORP. BUSINESS

HY POT HECATED OEPOS ITS IHSHOLOS l lAB.I
ASSET-COMMERCIAL BANKS

.1
.l

.

•8

•2
-.l
1.2

.2
.3
.1
l .6

1.7
.l
.3
1. 3

.l
.1
.5

.8

3.7

3.9 28

•3
.2

.4 29
.2 30
.4 31
• 2 32
.3 33
.2 34
2. 2 35

•2
-.1
2.6

.l

.1

.1

-.1

.l
.l

·"
•2

1.0
.1
.9

.6

.5

.1

•2
.4
.6
-. 2
l. 3

l .5
.l
l.4

•5

.5

.l

-

.5

-1.8
.2
•5
-2.5

.5

19
-. 3 20
21
-.1 22
23
.6 24

2. 7

.4
.9

.4

17

18

2. 2 25
.5 26
l.B 27

l .6

.5

.

15
16

-.l
-.3

1. 0
.1
.3
•7

.5

.1 14

-.It

.
. .• . .• .
·"
.
.
.
. . .
. . . .
. .
•
•1

·"

-.1
.2

2. 0
1.3
.6

.5

.6
.6

.7
•3

.7
.5
.2

.2

-.1

.

·"

-.1
.1

l.lt
.9
.5

-.l

-.It

-.4

.

.6
•2
.1
.1

.9
.5
.4

MUlUM. SVGS. BANKS LOANS TO


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1. 3
.5
.2
•2
-. 2
.2

.l
.5
·"
.?
--------------------------·----------------------------------------------------------------------OTHER LOANS -- BY TYPE
---------------------------------------------------------------------------

25
26
27

29
30
31
32
33

39
YEAR TOTALS, 1957-68

•2

.1

1. 2
.1
•2
.9

.

36
37
38
39

l.3 40
41
1.2 lt2

.

-

43
41t

f!IIIUARYo 1910
S EOJllTY CREDIT, TRADE CREDIT• ANO TAXES

40

SECURITY CREDIT, TRADE C REDIT, ANO TAXES
40

SECUIUTY CREDIT• TRADE CREDIT• ANO TAXES PAYABLE
I BillIONS Of DOLLARS I

----------------------------------------------------------------------------------------------------------------·-----------YE AR TOTALS, 1946-56

YEAR TOTALS, 19"-56
1945

1946

1948

1947

1949

1950

1951

1952

1953

1954

1955

1956

1.1
•7
.2
•5

-.It
-.2
-.l
-.l

.5
•2
.1
.1

.9
.5
.1
.4

2.l
1.1
.3
.8

1.0
•7
.2

·"

-. l

l
2
3
4

.1
.3

-.3
-.2
•l
-.l

.3
.5
.1

-.z

.3
.1

1.0
.6
.1
•3

.3
.3
•l
-.l

-.6
-. 7
.1

5
6
7
B

.9

z. l

•3

1.0
-.1

9
10
11
-.8 12

SECURITY CREDIT
l
2
3
4

NET CHANGE IN LIABILITIES
CUSTOMERS
SECURITY LOANS FROM BANKS
CUSTOMER DEBIT BALANCES

-4.3
-2. 7
-2.0
-. 7

5
6
1
B

BROKERS ♦ DEALERS
SECURITY LOANS FROM BANKS
FROM AG. OF FGN. BANKS
CUSTOMER CREDIT BALANCES

9
10
11
12

13

14
15

NET CHANGE IN ASSETS
HOUSEHOLDS
FOREIGN
COMMER CUL BANKING

.2
-. 3
-.3

.8
.3
-.l
.4

-1.6
-1. 7

-.8
-. 7

.5
.5

.5
•4
.1
•l

-4.3

-1.2
-.l

.z

.8

l.l
•3

-.4
-.1

.5
-.2

-3. 7

-l .l

.3

.3

.2

-.3

.6

.4

.9

.6

-. l
•l

.1
.1
.1

.5

.1

.6
.5
.1

.9
•8
.1

.1

.
..

--------------------

NET CHANGE IN LIABILITIES
HOUSEHOLDS
FARM BUSINESS
NONFARM NONCORP. BUSINESS
I PAYABLES LESS RECEIVABLES)

5
6
7
8

CORPORATE BUSINESS
STATE AND LOCAL GOVERNMENTS
u.s. GOVERNMENT
R>REIGN

11

12
13

NET CHANGE IN ASSETS
COflPORATE BUSINESS
u.s. GOVERNMENT
INSURANCE
FOREIGN

l4

DISCREPANCY 11-91

•

•

.

-.l

•

.

•

•
·"·"

-.7
-. 7

FINANCE N.E.C.
BROKERS ANO DEALERS
AG. OF FGN. BANKS

1
2
3
4

9
10

-1.2
-.It
-.4

..

1.0
.1
.1
.1

3.6
•l
.2
.3

2.8
.l
.3
•6

-1.0

2.6
.1
-2.0

3 .4
•2
-. 7
.1

l. 5
.l

3. 0
3. 7
-.8
•l

6.3
6.3
-.l
•l

-2.0

-2.8

-2.0
-2.0

12

11

TOTAL TAXES RECEIVABLE
u. s. GOVERNMENT
STATE ♦ LOCAL GOVTS.

13

UNALLOCATED

10

•

..
.

.

9. 7
.l
.2
1. 5

5.5
.l
.1

1
2
3
4

l.6

2.4
.1
•l

.3
.1
-.2

1. 6
.2
-.2
.1

7.9
.2
-.1
.l

4.7
.1
.3
.l

5
6
7
8

·"

"· 7
3. 7
.9
.1

5.4
"· 3
1.0
.1

- .8
-.8

lt.9
lo.6
.2
.1

ll.4
11.1o
-.2
.1

7.8 9
7.5 10
.1 11
.l 12
.1 13

-2.7

.2

- 2.9

l. 3

-1. 5

-1.7

-2. 3 14

2.9

2.6
2.6

-.7
-.7

12.3
11.8

.1

.1

.1

-.3

.

-2.2
-2.lt

•

.

•l
-.l

. .
. .
.
. .
.·"

7 .7
7.5

lo.9
"· 7

-2.9
-3.3

.1

.2

.2

.2

.1

.1
.1
.1

•1

.1

.1

-.1
.1

-1.4
-1.4

2 .5
2.3
.2

1.0
.9
.1

-2.1
-2. 1
-.1

7.t,
7. 2
.2

5.0
lo.9
.1

-3.7
-3.6
-.1

-.6

-.2

.3

-.1

.8

1.1
.6

-3.6
-3. 3

3. 7

lt.l

__ ,.

-1. 8

-z.o
.3

l
2
3
4
5
6
7
8
9

-.l
-. l

-.1

.5
.5

- 3.0
- 2.9
-.1

2. 5
2.3
.2

-2.1 10
-2.l ll
12

.6

-. 6

l.3

13

-.1

-------------------------------------------------------------------------------------------------

----------

EQUITY IN NONC OR PORATE BUSINESS

l

TOTAL HOUSEIOLO INVESTMENT

3 ·"

2.lt

"· 8

.5

3.2

2.5

2
3

NONFARM NONCORPORATE BUSINESS
FARM BUSINESS

1.1
2.3

2.0
.4

1.8
3.0

.2
.2

2.0
1.3

1.3
1.2


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

·"

------------------------·--------------------------------------------------------------

. .
.

.4
-.l

•

PROPRIETORS'
-------------·
----

• l 13
14
• l 15

3.lt
.l
.1
l.6

8.2
.1
1.1

1.0
.9

-.1

.5

•5
.1
- .2

-1. 3
.1

.
.

2.3
2.5

•l

-.6

2. 5
•2
.l
-.5

4.9

PROF IT TAXES PAYABLE

TOTAL TAXES PAYABLE
NONF IN ANCIll CORPORATIONS
FEDERAL RESERVE
COMMERC Ill BANKS
SVG. ♦ LOAN ASSNS.
LIFE INSURANCE COMPANIES
OTHER INSURANCE COMPANIES
FINANCE COMPAN1ES
BROKERS ♦ DEALERS

. . . . . .
•
.
·"
·"

9.6
.l
•3
-.l

.2

-----------l
2
3
4
5
6
7
8
9

•

·"

----------------------------------------------------------·----------------------------------------------------------------

TRADE CREDIT

.

.

·"

..

-.6

·"

·"

-1. 3

-l.8

-.7

-. 7
1. 0

�.3
.7

-1.5
.2

-1.0
-.8

-I.It

.1

l

FEBRUARY, 1970
SECURITY CREDIT, TRADE CREDIT, A ND uxE s

SECURITY CREDIT, T RADE CREDIT, AND TAXES

SECURITY CREOI T, TRADE CREDIT , ANO TAXES PAYABLE
I BI LLIONS OF DOLLARS I

41

41

--------------------------------------------------------------------------------------------------------------1967
1966
1968
1959
1964
1965
1957
1 95 8
1960
1963
l'l62
1961
-------------------------------------------------------------------------------------------------SECU RITY CREDIT
-----------------------------------------------------------------------------------------------YEAR TOTALS, 1957-68

YEAR TOTALS, 1957 -68

l
2
3
4

N ET CHANGE IN LIABILITIES
CUSTOMERS
SE CURI TY LOANS FRO� BANKS
CUSTOMER DEBIT BALANCES

-.3
-.4
-.1
-. 3

1.7
1.2
•2
1. 0

5
6
7
8

BROK ER S ♦ DEALERS
SECURITY LOANS FROM BANKS
FROM AG. O F FGN. BANKS
CUSTOMER CREDIT BALANCES

•l

.6
.2

•
.2

9
10
11
12
13
14
15

.
.

FINANCE N.E .C.
BROKERS ANO DEALERS
AG. O F FGN. BANKS

.

.4
-. l

-.l
- .2
.3
-.5

.9
•8

.9
1.1
-.2

.5
•2
•4

.1
.2

..
.

.9

.
.

.9
.4
.5

.

5.6
3.5
.6
2. 8

4.4
2 .3
.3
2.0

.6
.6
.1

2 .1
.9

2.0
l .o

l.2

1. 0

5.6
l.l
.l
1.5

4.4 9
.7 10
.3 ll
1.3 12

2. 8
2.8

2.0 l3
2.0 14
15

8.4
.4

5.7
•5

.4
-.2
-.2

.3

-.2
.1
-.2

.4
.I

2. 3
.1

.8

2.5

- .1
-.l

.9
•5

.4

-. I

.4

.2

•2

1.1

1.1

.6

.5

•l

•5

-.2
-.3
.1

1.0
1.0

1.1
1.1

-.3
-.2
-.2

1.9
1. 5
.4

-.5
-.5

.2
•5
-.3

-. l
-.2
.I

-.l
.1

.1

-.3
- .3
•5

..

------------------------------------------------------------------------------TRfl OE CREDIT
----------------------------------------------------------------------- -------

.

4.7
.3
.3
-.5

9.R
•2
•7
-.7

-1. 3

6.0
.4
.B
.6

l .o
.1
•2

5. 3
.2
.2
.1

4.6
.1
•3
.4

5.3
•2
-.1
-. 5

3 .6
.3
-.2
.9

9. l
.4
•5
-.4

7. 8
.5
•7
•5

2.6
•5
.6
.6

9.7
9 .5
.1
•2

e. 9
8. 5
.2
.2
-.l

8.6
8.1
.5
.1

•

8.5
8.1
.2
•2
•l

15.8
15. l
.4
.2
.1

13. 3
11.3
1. 2
.2
•5

10.9
8. 8
1.5
•3
.4

16.6 9
14. 8 10
.6 11
• 3 12
.9 13

-3.0

-3.0

-3.2

- 3.9

-5. 9

-3. 9

-4 .9

-8. 2 14

1.2
.6

1.5
1.9

.5

-.5

1.2
.5
.5
.2

1.7
2.2
-.5
- •l

5

CORPORATE BUSINESS
STATE ANO LOCAL GOVERNMENTS
u.s. GOVERNMENT
FOREIGN

.6
.2
•2
.1

4. 8
.2
.1

5.5

.

.2
.1

.a

10
11
12
13

NET CHANGE IN flSSETS
CORPORATE BUSINESS
u. s. GOVERNMENT
INSURANCE
FOREIGN

3.0
2.8
-.l
.2
.1

7. 8
B.3
-.5
.1
-. I

8.1
7.7
.2
•2

5 .4
5. 3
.1
.2
-.l

14

DISCREPANCY ( 1-9)

-.9

-2 .9

-1.4

-3.I

.

PROFIT TAXES PflYABLE

..

..

-

5.5
•2
.6
-.2

2 .3

.1
.1
.1

5

I!,

7
8

5.9
.2
.6
-.3

6.7
•3
.4
•2

.6

l
2
3
4

6.7
.1
•3
.5

4.9
.2
.4
-.7

q

2.5
2.0
.4
1.5

I. 7
•3

2.l
.1
•2

6

•
-.2

-.3

NET CHANGE IN L IAlllL ITIES
HOUSEHOLDS
F JRM BUSINESS
NONF ARM NON CORP. BUS !NESS
I PAYABL ES LESS RECEIVABLES)

7
8

.B
-.2

.
. . . . .
-.l

I
2
3

,.

2.3
1.4
•3
1.1

•5
.3
.1
.2

.1

NET CHANGE IN ASSETS
HOUSEHOLDS
FOREIGN
COMMERCIAL BflNK ING

.1

. .

9. 3
.3
•

q

.•.
. .•
.

..
•.
•

.2
.2

-4.l
-4.l

•l

-.1

.8

.4

.

•7

3.5
3.7

5

6

7
8

T OTAL TAXES PAYABLE
NONF INflNC JAL CORPORATIONS
FEDERAL RFSERVE
COMMERC I fll BANK S
SVG. ♦ LOflN ASSNS.
LIFE INSURANCE COMPANIES
OTHER INSURflNCE COMPANIES
FINflNCE COMPANIES
BROKERS ♦ DEALERS

-2. 0
-2. l
-.I
.1

10
11
12

TOTfll TAXES RECEIVABLE
u. s. GOVERNMENT
STATE ♦ LDCflL GOVTS.

-2. 3
-2. 3
-.I

-2.4
-2.4

-1.4
-1 .4

•8
•7

.9
•8
.1

2 .o
1.8
.2

1.3
1.1
.2

1. 3
1.2
.1

-. 5

-. t

2.6
2.4
.1

-.7
.2

-4.6
-4.6

3.4 10
3.3 11
• l 12

13

UNALLOCATED

•3

-.1

-.l

-. l

-. 4

.3

-.6

-.I

.4

•7

.5

• l 13

4

5

6
7
8
9

.1

-2. 5
-2.6

2.4
2.4
•3
-.5

.1
•I
-.I

.1

-1.5
-2.2
-.3
I .o

.4
I•"

-.9

.1

.l

.I

•l
-.l
-. l

•l
•l

.

.

-.2

•l

-. l

•l

l
2
3
4
5
6
7
8
9

------------------------------------------------------PROPRIETORS' EQU !TY u. NCNCCPPORATE BUSINHS
--------------------------------------------------------------------------------------I

TOTAL HOUSEHOLD INVESTMENT

2
3

NONFARM NONCORPORATE BUS !NESS
FARM BUS !NESS


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

-1.1

.5

-4.6

-3. 3

-2.9

-. 3
-.8

.1

-1.9
-2.8

-1 .6
-1.6

-1.3
-1.5

-.2

-2.1

•
-2 .I

-2 .1

- 3. 2

-1. 9

-4.l

-4.6

-3.2

-.3
- 1.e

-. 7
-2.4

.4
-2. 3

-.4
-3.6

-1. 8
-2.8

.2
-3-"

1

FEBRUARY, 1970
MISCELLANEOUS I

Ml SC ELLANEOUS I
Ml SCELLANEOUS FINANCIAL CLAIMS
I BILLIONS OF DOLLARSI

42

42

-------------------------- YEAR
--------------------------------------------------1945
1949
1 946
1948
1951
1950
1952
1947
1954
1953
----------------------------------------------------------------------

YEAR TOTALS, 1946- 56

10
11

12
13
14
15
16
17
18
19
20
21
22
23
24
25

TOTAL ASSETS
HOUSEHOLDS
FARM BUSINESS
NONF ARM NON CORPORATE BUSI NE
CORPORATE BUSINESS
SPONSORED CR. AGENCIES
U.S. GOVERNMENT
LIFE INSURANCE COMP ANI ES
PRIVATE PENSION FUNDS
S •♦ L. GOVT. RTR. FUNDS
COMM ERC JAL BANK ING
SAVINGS INST !TUTIONS
REST OF THE WORLD
BANKS IN TERR.AND POSS.

26

U NALLOCATED, NET

27

COML. BANK L !AB. TO FGN. BRANCHES
ASSET-REST OF THE WORLD

28

DEP. AT AG.OF FGN. BANKS (FINANCE N.E.C. L !AB. I
-.1
ASSET-REST OF THE WOR LO

2'1
30
31
32

FOREIGN CURRENCY EXCEPT OFF IC JAL-LIABILITY-REST OF THE WORLD
ASSET- CORPORA TE BUSINESS
u.s. GOVT.
COMMERCIAL BA"lK S

33

POSTAL SAVINGS DEPOSIT SIU. S.GOVT• LI AB. I
ASSET - HOUSEi-OLDS

6

1

8
9

1956

. . .
. .
. . . .
.
. . . . .
.
•.
. . . .
. . .• .
..
.
.

TOTAL LI ABILi TIES
HOUSEHOLDS
CORPORATE BUSINESS
u. s. GOVERNMENT
SPON SORED CR. AGENC JES
LIFE INSURANCE COMPANIES
NONL !FE INSURANCE COMPANIES
COMMERCIAL BANK ING
SAVINGS INST !TUT IONS
FINANCE N.E.C.
REST OF THE WORLD

4
5

TOTALS, 191t6-56
1955

2. 9
.1
3. 2
-.2
•3
•7
-1. 1

6 .o
.1
l. 7
-.3

2. 3
.1
.8
-. 3

.4
•8
- .2

•3
.1
.1
-.1

-.1

-.1
3. 5

.1
•8
.1
.1
.6
-.3
.1
-.1

3.4
.1
1.1
-. 5
.1
.4
.1
.6

3.9
.1
.8
-.3
•3
.5
.9
.2
.1
1.1

3.0
.1
1.5

5.6
.1
2. 5
-. 3
.1
.6
1.0
.4
.1
.2
1.1

5. 0
.1
2. 5
-.2
•2
.5

•7

1.6
•7
.1
.2
.9

2.6
.6
.1
.2
.9
.1

.1
.4
.9
-.4
-.1
.1
•5

4. 8
.1
1. 7
-.2
.4
•7
.6
•3
.1
.3
1.0

6.0
.1
2.5
-.4
-.1
.6
.1
1. 0
.1
.2
1.2

9.1
.2

l
2

.2
.2
•7
.1
1.0

6

3. 0

5.6 12
.3 l3

.1

2. 8
•3
.1
•2
•8
.1
.2
.2

.1
.3
•2

.4
.4
.1

-. 1

3.0

.a

.3
.1
.1

2.9

•l

"3
5

7
8

9

.5 10
2.6 ll

.1

.9

3.9
.5
.1
•2
1.0

2.1
.4
.1
.1
.9

2.0
.4
.1
.1
.9

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MISCELLANEOUS FINANCIAL CLAIMS ICONTINUEDI
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44

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1955
1951
1952
1948
1947
1949
1950
1953
1945
1946
-----------------------------------------------------------------------------

YEAR TOTALS, 1946-56

YEAR TOTALS, 1946-56

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LIFE INSURANCE CLAIMS

DEFERRED AND UNPAID PREMIUMS IL IFE INS. ASSETI
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LIABILITY - OTHER INSURIINCE
ASSET- CORPORATE BUSINESS
NONFIIRM NOt«:ORP. BU
FARM BUS !NESS
HOUSEHOLDS
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11
12
13

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26
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LIFE INSURANCE
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MONETARY AUTtOR !TIES
COMMERCIAL BANKS

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COMMERCIAL BANKS
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PR IVATE PENSION FUNDS
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FEBRUARY, 1970
MISCELLANEOUS JI

MISCELLANEOUS JI
Ml SCELLANEOUS FI NANCIAl CLAIMS ICONTINUEOI
!BILLIONS OF DOLLARS I

45

-------------------------------------------YEAR TOTAL S, 1957-68

1957

ICI

2
3
4

45

------------------------------·-----------------------------------·-l '167
1966
1968
196,.
1965
1959
1960
1962
1961
l '163
-------------------------------------YEAR TOTALS, 19 57-68

l '15 B

LIFE INSURANCE CLAIMS

OEFERR ED ANO UNPA IO PREMIUMS IL !FE INS. ASSET!
LI ABIL !TY - HOUSEHOLDS
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ID I NONLIFE I NSURANCE CLAIMS
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.2
-.1

•2

5.,.
5.0
-.l
•1

6.0
3.5
-.1
-.2

8.2
4.6
•1
-.1

.1
.4
.1

.3
.5
.2

•1
.4

.3
.5
.1
•1
-.1
1.0

•2
.5
•l
-.4

.2

1.6

.3
.4
.1
•l
•1
1.6

1.0
.6
.3
-.1

-.6
-.9
.4
•1

-.2

-.1
-.1

.2
-.3
.1

-.5
•3
-.2

1.3
-.2

2.4
1.0

1. 7
-.4

.6
.6
.2
.1

.5
.6
.1
.2
.1
.1
-.1

3.8
l. 7
-.1
.3
.2
.1

.2
•3
.1
.2
.1

.5

-

1.8

2. 8

3.1
2.0

3.5
2.3

18
19
20
21

TOTAL LIABILITIES
CORPORATE BUSINESS
u. s. GOVT.
u.s. GOVT.-WITHOUT LEVELS
SPONSORED CR.AGENCIES
SAVINGS INSTITUTIONS
LIFE INSURANCE
BANKS IN TERR.AND POSS.
REST O F THE WOR LD
MONETARY AUTHORIT IES
CDMHERC !AL BANKS

22
23
24
25

FLOATS IN COML. BANK STMN
ON INTERB»IK OEPOS ITS
ON INTERBANK LOANS
LESS-ON M.B. RESERVES

-.4

13

14
15
16

17

ASSETS I

TOTAL ASSETS
CORPORATE BUSINESS
SPONSORED CR. AGENCIES
COMMERCIAL BANKS
SAVINGS INSTITUTIONS
LIFE INSURANCE
PRIVATE PENSION FUNDS
S. + L.GOVT. RTR.FUNDS
BANKS IN TERR.AND POSS.
REST OF THE WORLD

26
27

28
29
30
31
32
33

34

35

.1

.6
.1

1 SOURCES N.E.C.
MISC. FINAN. LIABILITIES
2
COMMERCIAL BANKS
3
4
FLOATS
UNALLOCATED
5
MONETARY AUTH.
6
1
SPONSORED AGENC !ES

.
.
.
.
.

.
.

•1
.1
.2
.1

.2
.3
.1

-.1
1.0

•2
•3

-.1
.3

.1
•1
•1

.
.•

.
. .
..
.
. ..

.5
-.1
1.0

.6

•1
.4
.2
.1
.1

1.5
•1

.1
.2
.1

.2
•3
.2
•1

.2

.4

•l

•4

•1
•1
-.2

1.3

.1
.2

.2

•1
.5

1. 1
.3
•1

.e

•1
.1
.2

-.5

. . ..
•
.

1. B
2.8
.6
-.4
1.0
-.1
.2

6.0
2. 8

.4

.1
.3
.2
.2

.

4.8
2.9
1.4
.4
1.0
-.1

6 .1
3.6
.4
.4
.1
.6

4.9
4 .8
2.1
1.0
1.0
-.l

1

.4

.1

.1

.6

•1

11. 2 11
6 .6 12
13
.5 14
-.1 15
.3 16
.1 17
. 2 18
19
.2 20
3. 3 21

1. 5
.3
1. 2

1. 0

.6
.5
.2

3.4
1.4
.1
•8
•8
.2
.3
.1
•1
-.4

1.8
-2.5
.1
1.4
•9
-.1
.6
.1
•1
1. 3

•
1.2

2.2 26
-1.9 21
21
1.9 29
-.1 30
.3 31
. 2 32
• 1 33
• 1 34
1. 6 35

5.8
5.6
3.1
1. 5
1.6

3. 8
6.4
2.3
1.0
1. 3
-.l
.4

5.6
8.4
2.1
.6
z. 0

u.2
13.3
8. 7
5.5
3.3

.5

-.3

.3
.1

• 1 II
.2 9
3. 9 1 0
.2 11

.

•

1.6

1.6
.1
.3

.1

.z
.1
1.8
.2
.2

2.1
.5
.1

.1
.1
2. 7
-.5
.1

•

2. 5
.1

.2
.1
1.8
.2
.1

13

-MISC. FINANCIAL ASSETS
SPONSORED AGE NC !ES
COMMERCIAL BANKS
FINANCE N.E.C.

1. 3
•1
.4

.9

.9

2-1

1.7

.1
.8

.2

.1

2.0
.1
.e
1.2

1.4

.5
1.2

GROSS SAVING
TAXES PAYABl.E
PHYSICAL INVESTMENT
-GOLD & OFF FGN EXCHANGE
-TREASURY CURRENCY
-TRADE CREDIT
-DISCREPANCY TOTAL FOR All
FINANCIAL SECTOllS

Z.6
.1
.6

2.6

3.4

3.4

.e

.5

.1
.2

.6
-2.3
•1
.1

•1

.t

.1

.9

. .
. .

•.1

•1

3. 5
-1.0

-1.1
.1
.2

-1.1
•1
.2

-.8
.2
•1

.8

.6

.t

.1

. .
.

-.1

•l
.1
1.9
.3
.1


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.1

.
.

15. 0 10

.1

.

.2
•1
1.4
.1

-

.8

•2

5.3
9.1
4.9
-.l
-.2

4.2
3.9
1.4
-.2
1.6

•l
.1
1.5
.2
.1

23

.2
.8

.5

7.4

4.5
1. 5
-.4
-.6
.2

.1
•1
1. 7
.1
.1

17

.1

.1
.4

9.3
6.4
-. 2
-.6
•l
.3
.5
•3
•1
-.1
1. 3

----------------------------------------------------C DMPONENTS OF •SOURCES N .E .C .• I N SUMMARY TABLE
-------------

SVGS+ LOAN ASSNS.
HUT. SVGS. BANKS
INSURANCE
AGENCIES OF F G N BANKS
BANKS IN TERR.+ POSS.

18
19
20
21
22

-.2

. .
.
.•

8
9
10
11
12
14
15
16

.1

.6

.4
•2

UNALLOCATED ASSETS AND LI ABILI Tl ES

NET TOTAL ILIAB.

11
12

.6

l •7
-�2
.1

.

1.6
-.1
.4
1.3

. .

5 .3
5.0
1.6

.2

2. 3
.6
1.1

•1

1.7

•1

3. 6
-.5

.1

-.2
.2

-1.3
.2
.2

.5

•l

.6

3.9
.6
.6
-.8

3.6
-.4
1.0
-.4

.2

-.3

2.8

•

.9

.e

.

.1

-.3

.

.3

•
.5

.8
.3
•1

•

2.0

•

3. 8

.4

.6
.6
.8
•1
•1
•1

•

3.0
•2
.3

3 .9
.5

3.5
•1
1.4
2.0

4.1

.

-

•

5.5
.9
4. 7
.1

22
23

24

25

•

.2

1
2
3
4
5

6

1

. .
.

.3

1.2
2.• 9

.2 12

2.e 13
14
1.9 H
.9 16

4.1

4.3

1.0
-.3
.2

1.0
-.5
.5
.3

3.6 17
-.z 111
1.3 19
-1.2 20
.z 21
.3 22

1.6

t.6

.1 23

.1

FEMIUAltY, 1970
OISCltEPAIIC IES

YUR TOTALS, 1.,4.... ,6
1911'5

,�,---------------1947

-·-------------

,z
'
••

1.l

I TOTAL, M.l SECtORS
HOUSEHOLDS
COlt,OUTE IUSINESS
4
STATE ♦ LOCAL mvn.
FOllflGN
u. S. GOYEUMENT
6
T

NONI.INK FINAIKE
s,ONSOltl!D AGl!NC IES
SVGS ♦ LOAN ASSN$,
NUT UAL SVGS U NKS.
UFE INSUlMCE
OTHflt lNSUUNCE
ftNANCE N .l!,C,

12

u

14

1'

16

I TOTAL, ALL TYl'U
TlUSURT CUUl!NCY
2
DEMAND DEPOSIT NAIL FLOUS1
u. $, OOY!llHN 81 f
4
OTHflt
6
T

I

-z.,

..

•1

1.6
,4

.z

flN ...ClAL SECfflRS
IIONET •Y AUTKJIUTIES
COIOIEllCIAL IANllS

10
ll

,
'

TUOI! CREDIT
TAXES ,&YAIU
NISC!LUNBJUS
NONFINANClAl

.•

•l

,
'•
••

l TOTAL, Al.l Sl!CTOl'S

HOUSEHOLDS

CO!l,ouTE 9U$1NUS

"

STATE ♦ lOCM. GOVT$.

1

FINAHClAL SECl'OU

10

It

u
u

14
1'
16

,01tnGH

u•

$, GUVf:IUINl!Nf

NONl!TAIIT AUftlOltl UU
c.-.NEACIAl l&NltS

NONUNlt FINANCE
S,ONSOll!D AGl!tte I $
SVGS + la&II ASSNI,
MUTUll SVCS u,ucs.
l lFI.! INSUIIMCE
OTHEII 111su•.a11u
l'lN&IIICE N ,!.C,

-.1
.2

s

6

1

I

TUDf Cll!OIT
TAXU l'OAIU
MlSCl!LUIIEOUS
NONFtltA..ClAl


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1�9

SECTOlt OISCltEPANCIES

-2.,

-4,0
z.2
,'I'

1.0
-2,4

•

.2

•••
•
-.z
•

..
..

z.o
-1.,

1.2
-1.0

•T
1.2
-1.4

-.,

z.1

.z

.,
-.,
•••
•
-.1

-.t

.. ..

..,.

.,
,I

.z

.•.,

u,o

vu•
19'1

1•u

1953

195'

-4,1
1,9

-!1.9
4,1

•l
--•

-. t

---------------- -----. --z.,,• ·"., -,.,,.,,..., -z.z•••
.,
.,
••
.z
·"
.z
., ., •
·"
-1.,
-2.,
•1
-• l

-.4

,Z

•
•
-.J
-.,•

..

1.1

-z.,

1,4

..
.•• ••..
,4
.2

.z

1,0

-.4

-.4

•••
•.,

-.,

..

.

..

-.6

.....

-

••
•
-.1

TOTALS, 1946-56

1•'4

-.1

••
•

1956

.. -,.,,.,,.. ,

.,

z.o
.z

.!I

•• z

l

.,

l .J

••

1.0

.

• l'

z

'•

4

7

t

-.4

9

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...

.1 10

.

-----------.,
--------·---•
.,
-, -,., ...... , ,'·" -,,.1 ,,.o
-,.z
: ...
"'
1.z
z.,
··• ,
., .,
.a
., ..• , -., ··• -., -1.,
-., .,
•
•
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.,
-.,. ., •• -.,• •• •
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.
•
•
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_____ -----------------______ ..
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,
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...
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z.s •
-., ...----------------------�-------------·---------------·----·-·-·"-·---·--·--·

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1.2

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YEAII TOTALS, 1•!1T-61

lfl9

1960

1961

..
..

3,6

,.1

l,4

J.I
.9

4,1

4,6

4,2
l,!
-a .1

-6.1

-.1
•l

1962

UCTOII OISCAEUNCfES

-1.,

.4

.4

•1

1.0

1 .,
-1.0

4.9

-\,1

196)

l'J64

-6.4

-1.1

1.0

1.1

,4

-1.6

-. 1
-.1

-.1
•l

•l

-• l
-.4

•1

•l

.. . .

,I

•l

-.z
.a

-·•

•l

-• l

.

•I

•1

TUNUtTIOlt OISC�E,AHClU

.z

-1.7
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,l
-l- l

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1 ••

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2.1

-1.,

1.0

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-,l

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4.2
l,)

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J,l

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,l!

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____ .,.. ....

l .4

l,O

1.z

•l

•l

.1

•I

l 9U

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-,6

-.1

-1.0

J.O

l'J66

.. .. .. ..
....

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.__

l TOTAL, All TYPES
TIIUSU�Y. CUUEHtT
.2
Ol!fUND u,os IT 'IA I\, FlOU'Ss
, u. \. GOVf""'l!NT
OTH!lt
4

1948

••
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•
.'
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•.1
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·"
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----------·- TRANSACTION DI--StU,ANCIU
-____________.,._
________________________________,.
----------------·------•--·•"
•• 1
1.2
-2.s
,
2 .o
-2.2
-2.1
,., zl
1 • ..,
•
•
•
-.1
•
•
•
•
-.I
-. l
·"' -•·· - •.,l •.,l -.2., •., 1 • .., .l.z .2., -.4•• .,·"' ♦J
-z.o
-2.1
.l
-2.9
-z., '
-.z
••.zl -., -z.1
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--•
., -.z
-., -,,,,
•• 1.,
. -1.s
1.,
,4 6
z.e
..,
z.1
1.1
J.O
:Z,4
J.9
z.o
• -1.0 z.o -.3 --------,...-----z.z -z., -z.a -Z,2 ,.,
-1.,
l, l •
.1

----------------·--- ,.,,

Yl!&lt TOTALS, 19'7-61

z

...

DISUl!,UCIH
01 SCltEPANC IES - SUNMAllY FOR SECTOlS AHO TUNSM:TIO!IIS
I 9lll IONS OF OOLURS t

46

2.♦
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-,4

,4

..

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4.l
l,l

•I

-. 7

t.6

1,6

.1

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-.4

•l
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..

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-1.•
•l
1.4

u.9

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6.9

-. z

..

l
2

J

- .2

6

•l

1

10
.1 ll

•l

1.,

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4.1
1,1

,.2

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1,1.
-l.4
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.2

-.J
-.♦ 1'
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16

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11,.,
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l,J.

1,.0

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6


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

FINANCIAL ASSETS AND LIABILITIES, DECEMBER 31, 196S
(Amounts outstanding in billions of dollars)
(A) All sectors

Private domestic nonfinancial sectors

�:=

Sector

Transaction
category

1
3
4
S
6

��uu.::::::::::::::

House­
holds
A

L

1469 .6

j:i;...

Gold .......................
Official foreign exchange ... ..
IMF position ............ . ...
Treasury currency ...........

7 Demand deposits and currency . •
Private domestic ........... i18·.o
8
9
U.S. Government ..........
Foreign ...................
10
11 Time and savings accounts ....
Time deposits .....•.•.....
12
Savings accounts ..........
13

14 Life insurance reserves .......
IS Pension fund reserves ........
16 Interbank claims2 ....•.......

17 Credit market instruments ....
Corporate stocks 3 ••••••••••
18
Debt instruments ..........
19
20
U.S . Govt. securities' ....
State & local govt. oblig ...
21
Corp . & fgn. bonds ......
22
Home mortgages .......•
23
24
Other mortgages .........
Consumer credit ••.......
2S
Bank
loans n .e.c. ........
26
Other loans ............•
27

28 Security credit .........•.•..
To brokers and dealers .....
29
To others .................
30

31 Taxes payable ............. ..
32 Trade credit 6 ••••••••••••••••
33 Miscellaneous ..... ..........
For notes see following page.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Business
A

L

3 1 .3
2
465.5

State and
local
govts.
L

A

49.1

1

Total
A

L

73.4

.1
.2
.9 .. 3'.i

105.9
152.7

''''j
7.0
19.7

lOS.9

152.7

47.7 293.8

2S.4 103.1

··2·.s

••

3·.o 146.o
3.3 68.7

20.7
97.2
53.8

2.1

730.7
.....
730.7

100.3
97.8
208.9
112.8
90.3
84.6
6.5 36.0

9.2
1.7
1.7 ..
9'j

9.2

9.2

898.3
664.9
233.4
110.7
43.3
lS.l
13.9
22.6
21.2

3.7

2.1 20.7
146.0 103.9
8S.7 57.1

0

36.9 262.3

36:9 262'.3

A

�:i
.. 'i.9.6
4.7

L

S.4

L

A

1006.1 9 9
31.
13.7
.6

.

11.6 . "i,:i

Monetary
authority

2S.6

L

A

63.1 .

o:i

337.6 3°i4:i

··s·.4 .....
13.7
.6

mJ · · · :i

38.8
37.2
1.4
.2

7.0
3.0

90S.4

98.S

l S.4
6.0
9.3

.. 'i.6
23.6

98.9
133.0
2S.6
9S.8

18.3

H .. 2·4.3.s

1

..

14.2

· i.i:i

13.8

9·.6

7.9
7.9

1.8

66.6

L

Private
nonbank
finance
L

A

s11

.5

L

A

5.5

''13'.o

147.2

1:�

• •
.1 ·

.3

·.s

41.0 .....

:::::
·.m;
40.8

.....

.2

299.6

8.5
5.3
3.2

•

1.6 546.6

29f6 ··i:6 JN
66.9
38.6
.8 ·· ·•·.6
30.1
19.2
3S.7
104.2
4.1

40.7

80.0
35.2
44.8

1�U

162.5
65.0
33.S

18.9

6.9
.8
6.1

7 •
·
"i.6
17.3

... ·.9 .. 6:i . 't1'.9

L

A

zza:s
43.2 .. ··
29.4 ... ·
.s
.s
.9
.9

84.t . 9i

12.2
14.3
7.9
7.9

3.1

167.3 183.1
157.3 173.1
7.0
6.9
3.0

.. 7'j

319.2
147.2
172.0

1.1

44.2

'2s·.6

lOS.9

�U

1

30.2 39.2 1870.7 1127.9
14.6 ..... 778.0 3S.2
15.6 39.2 ••••• 1092.7
274.3
13.2
100.3
125.7
.7 "ici.i
212.9
112.8
90.3
104.3
72.1
1.6 21.S

· · · -; . s

.2

.1

.2
1.0
13.9

..

A

1
2

1
j �� :-:�

.. 3..0

.8 172.0

Dis­
crep­
anc1es

Total 1

5.4

m::

2.8

s°J,:o

Rest
of the
world

98.9
133.0

M.l
· iS:i
1.9
13.8
12.2
14.6

Commercial
banks

A

1.0 319.2
.2 147.2
.8 172.0

806.9
• 260.4 lS0.3
S1.0
109.9
1.8 195.2
3.9
88.S
1.7
69.1
104.3
32.7
31.2

2

Federally
sponsored
credit
agencies

Total

13.2

310.7
139.S
171.3

1.7
1.7

z,,·j

144.1

46.7

825.1 333.8
664.9
160.2
77.1
38.2
10.6 .....
11.8 206.4
22.6 14.2
90.3
11.9
11.0

L

A

,u 1141.1 ,2·1 6
.

279.3
108.0
171.3

17.0

Financial sectors
U.S.
Govt.

.1

17.2
7.9
9.3

1iU

-2.4

· ·•s·.s

3
4
5

6

7
8
.1 9
10

11
12
13

14
15
16

17
18
19
20
21
22
23
24
25
26
27
28
29
30

�½

3'j l�g
-47.7
54.2 127.8 178.5
50.7 33

FINANCIAL ASSETS AND LIABILITIES, DECEMBER 31, 1965 - Continued
(Amounts outstanding in billions of dollars)
(B) Private nonbank &nandal iutltatloa

Sector
Transaction
category
1 Total assets ................. .
2 Total UabWtles ..............

Savings
and loan
assns.

Total

A

L

A

58 7.5

sJ,·.o

1 2 9.6

3 Currency and demand deposits .
4 Time deposits & savings accts ..
Time deposits .............
5
Savings accounts ......... .
6

13.0
1.0 17 2.0
.2 .•...
.8 17 2.0

7 Life insurance reserves ......
8 Pension fund reserves ........

9 8.9
13 3.0

9 Credit market instruments ....
Corporate stocks ..........
10
Debt instruments ..........
11
12
U.S. Govt. securities .....
State & local govt. oblig...
13
Corp. & fgn. bonds .......
14
15
Home mortgages ........
16
Other mortgages ........ .
17
Consumer credit .........
18
Bank loans n.e.c. ....... .
Other loans .............
19
2 0 Security credit ...............
21
To brokers and dealers .....
22
Other ......•........•....
2 3 Taxes payable ........•......
2 4 Trade credit ..•••.......•••••
2 5 Miscellaneous ...........•.•.

5 4 6.6

.i::J
4 0.7

8 0.0

..'i.6
17.3

A

L
1 2 0.9

2.9
110.4

119.8

8.7

!U ii9:s ···s.1

18.3
109.1 ·· •
�j
16 2.5
6 5.0
3 •
. -� · 12'.i
..318.9
14.3
6.9
.8
6.1

Mutual
savings
banks

8.2

.94'.i .. :i.i
16.1
u ... ·.

s

6.0

L

58.2 • °
53 .
.8
.2
•2 .

•• 6'.9

6

52.4.

5 6.4
1.4
5 5.0
6.2
.3
2.9
3 0.1
14.6

9•2 ..
.5
.8
.8

7.9

.s

,·.2

9'.i

A

L

1 54.1 '
14·i.;
1.S

L

72.6 .
.9

,2·.,

A

L

33.1 •
.3

33:i

Other
insurance
cos.
A
3 9.8

L

·2·i:z

A

4 1.0 .
2.5

1.3

Agencies
of foreign
banks

Finance
cos.
L

A

L

36:4

Banks in
U.S.
possessions
A

L

1.5 ...
.. ,j

Open-end
investment

A

L

3 5.2
.5

.1

°35°.i

Security
brokers
and dealers

L

A

9.5 ..•:,

1
2

.9

3
4
5
6

..

6 9.3
3 9.7
2 9.6
3.6

14 6.9
9.1
13 7.8
5.1
3.S
6 1.1
2 9.6
3 0.4

...ii.1
3.3

·,·i.6

7
8

3 3.1
3 2.1
1.6
3 0.5
7.8
2.6
16.3

.• '37.

3 8.5

3 5.8
15.3
2 0.S
6.0
11.3
3.0

3 6.1

2.2

• 38'.5 ..36.i ..i'.i

1.8

16.1

.. ·4.5
·24°.3 .....
··9-_; 1g

...·.i

· · s:1 · ·•s·.i
.5

2.4

...·.1

···2
.6

.1
2 1.1

.3

.6

····.6
.1

•

.1

.3
.1
.3
.8
.8

1 Where no amount appears in total-asset column, total assets are identically equal to amount shown
for total liabilities.
• Claims between commercial banks and monetary authorities: member bank reserves, vault cash, F.R.
loans to banks, F.R. float and stock at F.R. Banks.
• Assets shown at market value; nonbank finance liability is redemption value of shares of open-end
investment companies. No specific liability is attributed to issuers of stocks other than open-end invest­
ment companies for amounts outstanding.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

A

···s.o
...t".i

State and
local govt.
retirement
funds

Private
pension
funds

9 8.9
2 7.3

..,·.
9

....j

.1
•..•.., ... :s

L

A

7.9
7.9

1
_. �
..4_4.2

Life
insurance
cos.

Credit
unions

3 4.7
3 0.9
3.8
.8
2.6

. ..

3 5.2
3 5.2

2.6
.5
2.1
1.1
.5
.5

9

10
11
12
13
14
15
16
17
18
19

·.s
6.1

.. '6

.i

7.9
7.9

20
21
22

.1 2 3

24
25

' Includes savings bonds1 other nonmarketable debt held by the public, issues by agencies in the budaet
(CCC, Export-Import Bame,
GNMA, TVA, FHA) and by sponsored credit agencies in Financial sectors,
and loan participation certificates. Postal savings system deposits are included in line 3 3.
11 Business asset is corporate only. Noncorporate trade credit is deducted in liability total to conform
to quarterly flow tables.

FEBRUARY, 1970

CREDIT MAfUCl!T SUHMo\RY

CREDIT MAflKET SUHMo\RY
SUMMARY OF CREOIT MARKET OEBT OWED BY NON F INC (AL SECTORS
I B JLLIONS OF DO LLARS I

so

50

---------------------------------------1950
1951
1952
1949
1956
1955
1953
1954
------------------------------------------------------DEBT OUTSTANDING, BY TYPE ANO SECTOR
-------------------------------------------------------------------------------------

YEAR-ENO LEVELS, 1945-56

YEAR-ENO LEVELS, 1945-56

1�5

1946

1947

1948

(.

TOTAL CREDIT MARKET DEBT
OWED BY NONFINANCIAL SEC TORS

356.3

350. 5

366.2

379.4

395 .5

417.8

441.2

470.0

499.4

525.l

561. 0

588. 3

l

251.5
251. 2
.3

228.0
227.9
.1

220.8
220. 7
.1

215.1
214 .2
.9

217. 7
216.7
1.0

216.5
216.l
.4

216. l
215. 8
•3

220.9
220 .3
.6

228.0
225. 7
2. 3

230. 4
228. l
2. 3

229.b
228.0
1.6

223.8
222. 5
1.4

2
3
4

5 ALL OTHER NONFIN. SECTORS
DEBT CAPITAL INSTRUMENTS
6
ST .+LOCAL GOVT. SEC.
7
CORPORATE + FGN. BONDS
8
MORTGAGES
9
HOME MTGS.
10
OTHER RESIOENTIAL
11
COMMERCIAL
12
FARM
13

104. 8
77.6
15.7
26.4
35. 5
18. 6
5.7
6.4
"· 8

122. 5
84. 7
15.7
27. 3
41.7
22. 9
6.l
7.7
4.9

145 .4
96.0
17.2
30. 2
48.7
28.0
6.6
9.l
5. l

164. 3
109 .6
19. 3
34.3
56 .o
33.0
7.5
10.2
5. 3

177.9
121.7
21.9
37 .4
62.4
37. 3
8.6
10.8
5.6

201. 3
135.2
25.2
37.4
72.5
44.9
10.1
11.5
6.l

225.l
151.6
27.4
42. 3
81.9
51.4
11.5
12.5
6.7

249.l
167.9
30.2
46.8
90 .9
58.0
12. 3
13.4
7 .2

271. 4
185. 4
34.6
50. l
100. 1
65 .6
12.9
14. 5
7. 7

294.6
207.2
40.6
53. 7
112. 9
74.9
13.5
16. 3
e. 2

331.4
231.l
45.ll
56.3
129.0
87. 3
14.3
18.3
9.0

364.4
253. 3
49.6
60.2
143.6
98.l
14.9
20.7
9.8

5
6
7
8
9
10
11
12
13

14
15
16
17

27.2
12.3
5. 7
.2
9.0

37.8
17.4
8.4

18

OTHER PRIVATE CREDIT
BANK LOANS N.E.C.
CONSUMER CREDIT
OPEN-MARKET PAPER
OTHER

49.4
21 .4
11.6
.4
16.0

54. 7
22.l
14.4
.4
17. 8

56.2
19. 7
17.4
.4
18. 7

66.l
24.5
21.5
.6
19.6

73.5
29.0
22. 7
.8
21.0

81.2
31.4
27 .5
•8
21.4

86. 0
30. 5
31.4
.9
23. 2

87.4
30. 8
32.5
1. 3
22.e

100. 3
36.5
38. 8
.9
24.0

111. l
42.9
42. 3
1.3
24. 7

14
15
16
17
18

19
20
21
22
23
24
25
26

BY BDRROWING SECTOR-FOREIGN
STATE+LOCAL GOVTS.
HOUSEHOLDS
NONFINANCIAL BUS !NESS
CORPORATE
NONFARM NONCORPORATE
FARM

104. 8
5.1
16.2
29.0
54.6
41.7
6.3
6.6

122.5
8. 0
16.2
35.9
62.3
47. 7
1. 7
1.0

145.4
12.5
17. 7
43.9
71.4
54.9
9.1
7.4

164. 3
13 .6
19.9
52. 5
78. 4
60.6
9.7
8. l

177.9
14. 2
22 .4
60.l
Bl.l
62.3
10.4
8.5

201.3
12. 7
25.8
73.0
89.8
68.3
12 .o
9.5

225.l
14.6
28.2
8 l.7
100.6
76. 7
13.0
10.8

249.l
14.9
31. 3
93. 8
109.l
83. 5
13.9
11.6

271.4
16.0
35.4
106. 3
113. 7
87.8
14.4
11.5

294.6
16.4
41.l
11 7.4
119. 8
92.2
15.3
12.3

331 .4
16. 5
46.3
137.l
131.4
100.8
17.0
13.7

364.4
17. 3
50. l
153. 2
143.8
111.4
17.8
14.6

19
20
21
22
23
24
25
26

l TOTAL CREOIT MARKET DEBT
HELO OIRECTL Y BY-2 u.s. GOVERNMENT
3 U. S.G. CREDIT AG ENC IES,NET
4
FUNDS ADVANCED
5
L ESS-FUNDS RAISE IN CR.MKT.

356.3

350. 5

366. 2

379.4

3g5 .5

417.8

441.2

470.0

499. 4

525.1

561.0

588. 3

l

5.2
1. 2
2.0
.9

7 .5
1. 0
2.l
1. 2

11.e

1.0
2.3
1. 3

13.l
1.1
2.7
1.6

14.5
1.2
2.6
1.4

15 .2
1.3
3.1
l.a

16.5
1. 5
3.5
2.l

18.0
1.5
3.6
2. 1

19. 9
1.6
3. 7
2. l

19.6
2. 0
4.0
2.1

20.3
2. 0
5. 0
3.1

20.9
2 .3
6.1
3. 8

4
5

6 FEDE RAL RESERVE SYSTEM
7 COMMERCIAL BANKS, NET

24. 3
116.7

23. 5
110.4

22.6
113. 7

23 .5
111.5

19.0
116.9

20. 8
123.0

23. 8
129.2

24.7
138.8

25 .CJ
142. 7

25. 1
152. 0

24. 8
156.5

25. 0
162.4

6
7

80.3
23. 6
48. 8
7.9
8.4
.5

86.5
26.3
53.4
6.8
7.9
1. l

92.7
28.7
58.0
6.0
7.7
l.7

100.9
30 .8
63 .5
6.6
9.4
2.8

108. 8
33.4
68. 8
6.6
10.3
3. 7

117.6
36.2
74 .e
6 .6
11.7
5.l

126.l
39.0
80.6
6. 5
11.9
5. 5

138.6
43.9
88.0
6. 7
13. 4
6. 7

153. l
49.6
96.5
7. 0
15. 2
e .3

168.l
55. 9
105.0
7 .3
15. 9
8. 6

183. 8
63.3
113.4
7 .2
19.7
12. 5

200 .o
70.8
121. 8
7.4
20.6
13.2

8
9
10
11
12
13

2
3

4

u. s. GOVERNMENT

PUBLIC DEBT SEC URITIES
BUDGET AGENCY SECURITIES

---------------------------------- --------------- - - - -- - - -------------------------II. OIR ECT HOLOI NGS OF CREDIT MARKET DEBT CLAl"S
--------------------------------------------------------------------------------------------------

□

8 PVT. NON BANK FINANCE
SAVINGS INSTITUTIONS,NET
9
10
INSURANCE
11
FINANCE N.E.C., NET
DEBT CLAIMS HELO
12
LESS-OWN DEBT OUTSTANDING
13
14 FOREIGN
15 PVT. OOMESTIC NONF IN ANCIAl
BUSI NESS
16
STATE + LOCU GOVT., GEN.
17
HOUSEHOLDS
18

.4

11.6

2
3

3.l

2. l

1.4

1.9

2. 2

3 .4

3. 5

4.6

5. 2

5.6

6 .4

125.5
24.6
7.1
93.7

119. 5
19.8
6.5
93.2

123.0
19.7
7.l
96 .2

127 .4
21.5
1. 7
98. 2

133.0
24.3
8.2
100.5

136.5
28.6
9.0
98.9

140.6
30. 5
9.8
100.4

143.8
31.l
11.0
101.7

151.0
33.6
12. 3
105.1

152. 8
13.9
l07.l

167.1
37.2
14.7
115.2

170. 2
33. 7
15. 5
121 .o

15
16
l7
18

--------------

31.A

7. 5 14

---------------------·---------------------------------------------------------------------------------------------------

111. SOURCES OF FUNDS SUPPLIEO TO CREDIT MARKETS

TOTAL DE8T OWED BY
356.3
NONFINANCIAL SECTORS
FINANCE DIRECTLY ANO I NOIRECTL Y BY--

350. 5

366.2

379.4

395. 5

417.8

441.2

470.0

499.4

525.l

561.0

588. 3

l

283.4
163. 9
106. 0
57.9
32.3
25.6

293. 7
170.7
109.2
61.5
33.7
27.9

298. 5
17 1. l
107 .0
64.l
34. 2
29.8

306.6
173. 6
106. 7
66.8
34.5
32. 3

31 7.3
180.9
111.5
69.4
34.6
34. 8

333.0
192. 3
118.3
74.0
36.l
37.9

348.4
204 .5
122. 7
81. 8
38 .9
42.9

365. 3
214. 4
124.0
90.4
41. 7
48.7

380.7
227. 9
127. 7
100.2
44. 9
55. 3

406.l
239. 0
130.1
108.9
46.4
62. 4

419. 9
249.7
131 .4
118.4
48.7
6g. 7

2
3
4
5
6
7

125.5
91.l
34.4

119.5
83. 8
35.7

123.0
85. 1
37.9

127.4
86 .4
41.0

133.0
89. 5
43.5

136.5
92.6
43.9

140.6
93.1
47.6

143 .8
93.l
50. 8

151.0
96.0
54.9

152. 8
93. 6
59.2

167.1
l OC. 9
66. 2

170.2 8
98.2 9
12.0 10

6.5
3.4
3.1

5.3
3. 2
2.l

4.5
3 .o
1.4

5.2
3. 3
1.9

5 .4
3. 2
2. 2

7.3
3. 8
3.4

7.1
3 .6
3. 5

8. 5
3.9
4.6

9. 3
4.1
5.2

10.3
4. 7
5.6

ll.O
4.6
6.4

12. 2 11
4.8 12
7.5 l3

27 .9
5.2
42.9
-2.l

5.8
7.5
46. 3
2.2

3. 7
11.8
50.C
2.6

4.9
13.l
54.2
3.5

5 .4
14.5
58.2
5 .5

5.0
15. 2
63.l
9.9

5. 2
16.5
68.l
ll.4

18.0
74.1
14.l

1.0

5. 6
19. 9
80. 8
18. 5

5.9
19. 6
87.l
21. 5

5.2
20.3
93.9
24.4

□

2

3

4
5
6
1

8
9
10
11
12
13
14
15
16
17

PRIV ATE DOMESTIC NONFINANC IAL SEC TORS:
TOTAL
276.0
150.5
DEPOSITS
EMANO OEP. ♦ CURR ENCY
99.l
51.4
TIME ANO SVGS. ACCOUNTS
AT COMMERCIAL BANKS
28.5
AT SAVINGS INSTIT.
22. 9

□

CREDIT MKT. INSTR.
u. s. GOVT. SECURITIES
PVT• CREDIT MKT. INSTR.
OTHER SOURCES:
FOREIGN FUNDS
AT BANKS
0 IRECT

u.s.
u.s.

GOVT. CASH BALANCES
GOVT. LOANS
PVT. INSUR. ANO PENSION RES.
SOURCES N.E.C.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

5.3
20.9
101.6
28.3

14
15
16
17

Fl!IRUARY• 1970
CUDlT 11\&11'? SUIOlUY

CUDIT li'UIT SI.IIIM&Y
SUMARY OF C:Rl!DIT IIAllKET OUT Oll!D IY NONFINC:I M. SEc:lDRS
Cl Ill I ONS OF DOLLARS)

Sl

51

Y EAII-END uvns. 1•'57-61

YEAR-ENO LEVE LS• 19,7-68

1.,7

1951

1959

1960

1961

1962

1963

1964

'

TOTAL CREDIT IIAllKET OEIT
OWED IY NONFINANCUL SEC:TOAS

1ou.1

1091.0

1111.1

.... .... ......,.. "'°·' ..
.... ....
....
...
,,..
....
'"·'
.
..
..
.. .,., ••••
.,..... "·'
,., "·'.. .. .... ..
.... ...
.... '°'·' 20,., "·' .,.,.. ,,...
...
..
"'·'
.. .. ..
.. ,., .. •..
..
...... ...... •••
..
...

616.,

.,,.4

221.6
219.1
1.1

U0.9

5 ALL OTHIBI NONFIN. SECTORS
OHT (A,rTM. INSTRUIUNTS
6
.,
ST .+LOCAL GOVT• S!Co
C:OAttOUTI ♦ FGN. IONH
I
MOUGAGIS
HOIIE IITGS.
10
OTHl!II lll!SIDINTIAL
11
COMEIICIAl
fall.Ill
11

,
21,.,

1♦

u

u

16
ll

ti

19

zo

Z1
ZI

n

Z4

H
Z6

OTHl!II PRIVATE CREDIT
IANlt LOANS N.1.c.
CONS""IR CR!OIT
Df'EN-IIAIIICl!T ,APl!R
OTHI!•
IY IOAIIOIIING SECTORPORl!IGN
S TATE♦LOCAL GOYTS.
tC>USEHOLDS
NONFINANCUI. IUS INESS
tOllPOUTE
NONPAIIII NONCOIIPOHTt
FAIi.ii

54.0

704.4

22,••

2Ho9
U4.0
1.t

., ,
JOJ.O
, ,

na. o

,o,.•
n,.z

2. l

Tl.4
lTO. l
u,.o

UI.T

n.z
10.4

21.1
11.1

u,.•

u,.,

z, .2
u.1

u,.•
106.T
u.,

45.0
45.0
1. T
26.T

,

,

,._,
166.1
15'.4
121.1
lt.T
lS.6

n•.11

2ie.o
ZJ6.2
1.1

,

,

16.T

,

u.,

u,••

10.,
204.4
n1.1
zo.,
H.4

u.,

,z.4

l4T.I
ss.,

,o.o

n.4

1 ••
za.1

42♦.,
zo.,
60.4
1n.2
166.4
u,.1
zo.,
n.o

10.,

466.4
u.1

,

110.1
na.6
U.6
H.9

,

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260 .6
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260 .0

278.9

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417.9
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296.l
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SAVINGS ltlSTITUT IONS,Nl!T
INSURANCE
10
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11
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lJ
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u

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U PVT, DOIUSTIC !tDl'Cf INANCIAL
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u
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HOUHHOl.OS
u

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206.9
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PlllYATf IXMHTtC NOlllf'INANCIAL SUT011S1
TOTAL
416.6
oE,osns
Z60.a
U9. 9
0111•0 DIP• + CUIIRIICY
,
no.a
T IIIE AHO SYS$. ACCOUNTS
6
AT C:OMIIICIAL IANllS
.,
AT SAYINGS INSTIT•
16.6

690.6

,01.0

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459.9
111.,
lJ4.I
146.S
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n,.,

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112.1
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OTHl!l SOURC:Ua
fOUIGN FUNDS
AT IANllS
Olltf1CT
11

II

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14

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U, So tD'ff • LOANS
flVT. tlllSUlt. ANO PINSION lH.
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1274.9

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26
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16.0
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UTT.I

428.0
1n.z
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144.T
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961. 6

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160.S
204.T
10. T
41.T
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129.J
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111. SOURCES Of FUNOS SUPPL 110 TO C:lU IT MllKIETS
TOTAL OflT 0111!0 IY
NOtlFINANCUl SIC:TDl!S
1
6.16.'J
FIIIIANCIO OIRKTl Y ANO INDIIIEC1l Y IY-z
J
6

1 961

1966

2 u. S. GOVl!RNIIENT
l'UlllC OHT SECUltlTIES
8U05ET AGl!NCY Sl!CUIIITI E S
4

•

--------------196 5

I. DHT OUTSTANOING• IY TYPE AN O SECTOR

21.t

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2

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6

1

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1••• T
265,9
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212 .a
U9. l
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FEBRUARY, 1970
HOUS EHOLDS

HOUSEHOLDS
SECTOR STA TEMENTS CF FI NANCI AL ASSETS AND L IAB ILITIES
( 8 ILL IONS OF DOLLARS I

52

---------------------

1
2
3

4
5

TOT Al FINANCIAL ASSETS
DEMAND DEP. AND CURRENCY
SAVINGS ACC OUNTS
AT COMMERCIAL BA NKS
AT SAVINGS INSTITUTIONS

52

----------------------------------------------------------1951
1949
1956
1950
1952
1954
1953
1955
------------------------------------------------------------HOUSEHOLDS
-------------------------------------------------------YEAR-END LEVE LS, 1945-56

YEAR-ENO LEV ELS, 1945-56
1945

1946

1947

1948

368.2
56.0
50.0
27.1
22.9

375. 0
59.0
56.3
30.7
25. 6

383.2
57.0
59. 8
31.9
27.9

389 .6
54.7
62.0
32.2
29.8

408.0
52.9
64.7
32. 3
32. 3

442.5
55.0
67.1
32.3
34.8

481.0
58.3
71.6
33.7
37.9

514.5
60.3
79.3
36.4
42.9

527.2
61 . o
87.6
38. 9
48.7

620. 8
62.4
96.7
41. 4
55. 3

700. 7
62.9
105.5
43.1
62.4

745.6
63.9
115.0
45 .3
69.7

4
5

204. 7
64. 8
NA
NA
-.1
42.9
7.3
9.6
111 .1
12. 0

196.1
63.7
NA
NA
44.2
7.lt
8.1
102.9
13 .5

197.0
65 .5
NA
NA
•1
46 .2
7.8
8.1
100. 7
14.8

197.8
65.6
NA
NA
.z
47.8
8 .9
7.7
99.6
15.9

209.3
66.7
NA
NA
.1
lt9. 3
9.6
7 .5
108.8
16. 7

231.7
66.5
NA
NA
.2
lt9.6
10.1
lt.9
132.9
17.lt

255 • 7
65.7
NA
NA
.4
49.1
10. 5
5.9
155.4
18.3

271.1
65.4
5.3
10.6
.3
lt9.2
11.6
5.7
169.lt
19.0

266.4
65. 7
7. 3
8.6
.4
lt9.4
13.7
5.6
161. 3
20. 0

340. 8
64.3
5. 0
9.1
•3
50. 0
16. 0
5. 5
233. 7
21.2

400.4
66.8
5.4
1 o. 3
.9
50.2
19.5
6.6
285 .2
22 _,.

424.9
67.9
6.9
9. 7
1. 2
50 .1
21.8
7.lt
303. 8
23.9

6
7
8
9
10
11
12
13
14
15

.9
69.3

16
17
18
19
20
21
22
23
Zit
25
26

14
15

CREDIT MKT. INSTRUMENTS
u.s. OOVT. SECURITIES
SHORT-TERM MKT.
OTHER DIRECT
A GENCY ISSUES
SAVINGS BONDS
STATE AND LOCAL OBLIG.
CORPORATE ♦ FOREIGN BONDS
CORPORATE STOCK, MKT. VAL
MORTGA GES

16
17
18
19

SECURITY CREDIT
LIFE INSURANCE RESERVES
PENSION FUND RESERVES
Ml SCELL ANEOUS ASSETS

.6
39.6
11.0
6. 3

.7
lt3.4
12.5
7.1

.6
46.5
llt.8
7.6

.6
lt9.lt
11.2
8 .o

.6
52.1
20.1
8. 4

.9
55 .o
21t.O
8.1

•8
57.8
27. 5
9.3

•7
60.7
32.lt
10.0

•7
63.6
37. It
10 .6

1.0
66.3
lt2. 6
10.9

11.4

.9
72.7
56 .6
11.7

20
21
22

TOTAL LIABILITIES
CR EDIT MKT. INSTRUMENTS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
BANK LOANS N .E.C.
OTHER LOANS

35.0
29. 0
18. 0
.5
5.7
z.7
z.1

39.4
35 .9
21. 8
•7
8.4
3.0
z.1

lt7.2
lt3.9
26.1
.9
11.6
3.1
2 .2

55.6
52. 5
31. 1
1 .3
llt.4
3. 2
2.4

63.6
60.1
35.2
1.8
17.lt
3.1
2.6

77.4
73.0
42.6
2.lt
21.5
3. 8
2.9

86.0
81.7
49.7
2.9
22.7
3.2
3.2

98. 7
9 3.8
56.l
3.4
21.5
3.5
3.3

111.8
106. 3
63.8
3.9
31.4
3. 7
3.5

12ft. 1
11 7.lt
72. It
lt.6
32.5
4.1
3. 8

lltlt.8
137.1
81t.6
5.2
38 .8
4.lt
4.1

161. 2
153. 2
95. 8
5. 9
42. 3
lt.8
lt.4

4.9
.5
.6

2.2
.6
.7

1.8
.7
.8

1. 5
•7
.8

1.8
.8
.9

2 .5
.9
1.0

2.4
.9
1.1

2.6
1.1
1.2

3.0
1. 2
1. 3

4.1
1.3
1. 3

4. 8
1.4
1.5

6
7
8
9
10

u

12
13

23
24

25
26
27

28
29

SECURITY CREDIT
TRADE CREDIT
DEFERRED ANO t,,IPA ID LIFE
INSURANCE PREMIUMS

•

INQ.UDES t«JLDINGS BY PERSONA L TRUSTS AND NONPROFIT ORGANIZATIONS.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

SO.It

4.8 27
1.5 28
1. 7 29

FEBRUARY, 1970
HOUSEHOLDS

HOUSEHOLDS
SECTOR STATEMENTS CF FI NANCI Al ASSETS MD l IAl ll IT IES
I 8 IllIONS Of OOLUIISI

53

--------------------------------------------1957
1960
1961
------------HOUSEHOLDS
----------------------------------------

53

'l'UR-ENO LEVELS, 1957-68

l

2
3

4
5

TOTAL FIN ANCIAL ASSETS
DEMAND OEP. ANO CURRENCY
SAYINGS ACCOUNTS
AT COMMERC UL BANKS
AT SAYIN GS INSTITUTIONS

l r.c::C>

fqc;o

732. 8
62 • 7
127.0
50.5
76.6

869.5
64.4
141.1
55 .8
85.3

935.0
66.2
152.8
59.4
93.5

957. l
65 .o
165. 3
62.2
103.1

392.0
68.0
9.1
8. 8
l.9
48.2
23. 6
e. 5
266.2
25. 8

499.6
65.3
6.9
9.2
l.5
47.7
24.4
9.5
372. 4
28. l

538. 0
70.4
10 .4
11.0
3. 0
45.9
27 .5
9.4
400.8
29.9

YEAR-ENO LEVELS, 1957 -61
1967
1966
1968
1965
1964
--------------------------------------------------

1962

1963

1100.4
66.1
182.6
68.4
114.3

1 0 74.2
68.9
206.0
78.7
127.3

1201.6
74.5
229.0
86.6
142.4

1331.4
80.6
252.9
94. 8
158.1

1469.6
88.0
279.3
108. 0
171.3

1446.1
91. 0
297.1
118.7
178.4

1678.4
102.4
329.5
134.5
195.0

1876.4
109. 7
357.4
149 . 6
201.e

l
2
3

536.5
69.8
7.8
13.6
2.7
45.6
30.9
9 .8
394.2
31. 8

644.4
69.0
6.7
13.3
2.6
46.4
32. 3
10.4
499.3
33.5

581.9
69.1
6.9
12.4
2.9
46.9
33. l
9.7
435.4
34 .5

662.6
72.8
9.8
11.6
3.3
48.0
33.9
9.2
512.0
34.8

742.6
75.0
8.4
13.8
3.8
49.0
35.9
9.3
587.4
35.l

825.1
77.1
11. 5
12.0
4.0
49.6
38.2
10.6
664.9
34. 3

766.3
84.5
12. 9
13. 3
a. 2
50. l
39. 8
12.3
594.0
35. 8

925.9
85. 2
10.6
14.2
9.3
51.0
37.7
15. 5
750.9
36.7

1061.4
92 .4
11.0
12. 3
11.6
51. 5
37 • 1
20.3
873.2
38. 4

6
7
8
10
11
12
13
14
15

4
5

14
15

CREDIT MKT • INSTRUMENTS
u.s. GOVT. SECURITIES
SHORT-TERM MKT.
OTHER DIRECT
AGENCY ISSUES
SAYINGS BONDS
STATE ANO LOCAL 08 LIG.
CORPORATE + FOREIGN BONDS
CORPORATE STOCK, MK T. VAL
MORTGAGES

16
17
111
19

SECURITY CREDIT
LIFE INSURANCE RESERVES
PENS ION FUND RESERVES
MISCELLANEOUS ASSETS

.9
75.5
62.6
12.0

l. 2
78. 5
72.4
12.3

1.0
82.0
82. l
12.e

l. l
85.2
90.7
13.3

l. 2
88 .6
103.5
13.8

1.2
92 .4
109.5
14.3

1.2
96.6
122.e
14.8

l .2
101.1
137.3
15.7

1.7
105.9
152. 7
17.0

l.6
110.6
161.3
18. 2

2. 7
115.4
182. 6
19.9

3. 5
120.0
202.9
21.6

16
17
18
19

20
21
22

TOTAL LIABILITIES
CRED IT MKT. INSTRUMENTS
HOME MORTGAGES
OT HER MORTGAGES
CONSUMER CREDIT
BANK LOANS N.E.c.
OTHER LOANS

174.0
166. l
l 04.6
6. 7
45.0
5.0
5. 0

186.4
l 77.2
113.4
7.5
45. l
5.7
5.4

208.4
198.6
126.0
8.3
51.5
6. 7
6.1

226.2
216.3
136.8
9.2
56. l
7. 2

264.l
252 .4
160.4
11.0
63.8
8 .6
8.5

291.2
277 .2
175.l
12.0

1.0

243.l
231.6
147.7
10. l
58.0
8. l
7. 7

9.1
9.2

319.3
305. l
191.l
13.l
80. 3
10.5
10. l

349.4
333.8
20 6. 4
14.2
90. 3
11.9
11.0

372.2
356.2
219. 0
15. 5
97.5
12.2
11.9

395.8
315 .e
229.4
16.7
102.1
14.4
13.3

430. 3
407.5
244.1
17. II
113. 2
17.4
14 .9

20
21
22
23
24
25
26

4.4
1.6
1. 8

5.5
1.8

5.5
2. l
2 .2

5.4
2. l
2.4

6. 7
2.2
2. 5

6.6
2 .4
2. 7

8.6
2. 5
2.9

8.4
2. 8
3.0

9.2
3. 0
3.3

9.0
3.3
3. 7

12.3
3.7
3.9

6
7
8
9
10

11

12

13

23
24
25

26
27
211
29

SE CURITV CREDIT
TRADE CREDIT
DEF ERRED AND UNPAID LIFE
IN SURANCE PREM IUMS

z.o

INCLUDES HDL DINGS BY PERSONAL TRUSTS AND NON PROFIT ORGAN! ZAT IONS•


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

11.1

9

14.4 27
4.1 211
4 .3 29

l'l!IIIUA"Y• 1970
IUSINISS

IUSINHS
SECTOlt ST&TE.. NTS OI' l'INANCl&l ASSITS AHO UAIILITIES
III LLIONS Of OOUMSI

54

54
YEAll-l!NO LEVELS, 194'-H

YIA"-lflft l EYll.S, 1'45-56

19"6

l94S

1947

l
z

,

4
5
6

'

I
9
10

ll
lZ

n
u

14

1
2

,

4

,

6

•
9
T

10
ll

lZ

u
14

TOUL FINANCIAL ASSETS
Ol!tl&NO OEP .&NO CUll!t.
TINE DEl'OSlTS
C"EOIT IIA"KET INST!t.
TUDE CREDIT
Ill SULUNEOUS &SSErs

19.6
n.9
.9
24.6
20.6
••4

... ..

TOTAL LIHILITll'S
CIIEOIT IIKT INSTIIU!IENTS
COll,OIIUl' IIONOS'
NOME MOllfGAGES
OTHf" ..OIITGAGES
tl&NK LOANS N.E.c.
OTHlll LOUIS
TUOE DEIT, ttET
OTHE!t LUIILITIES

94.9
54.6

n.,

.6
16.4

,.o
,.o

18.4
21.,

91.1

,

•9
... 1
24.4
10.0

106.3
62.J
24.4
1 .l
11.0
13.6

,.o

21.2

-----------

TOUL FtNMfCUl ASSETS
OENANO Ofl'. MO CURlt!ffCY
IIISCUUNEOUS ASSETS
JNSUUHCE lt!CEIYHLES
EQUITY IN Sl'ONSC!IIEO AG.

5. J

TOTAL L UIILITIH
CUOIT IIAIU(l!T 1NSTltUMENTS
MOIITGAGES
e&• LOANS N.E.C.
OTHU LOANS
u.s.GOYT.
P:ICll♦IIKS l'OII COOPS

1.2
6.6
4.8
1.0
•1

4.6
.1

.,

.2

.,
.3

TUOE OHT
MEMO• CCC 0111ECT ANO GU&IIANTEEO
LOANS NOT INCLUOEO HOYE

.6

.,

22.,

1949

1941

NONFINAIIIC l&l

19'1

1952

l9'J

1954

19'5

19'6

10.4
46.0
.9
10.,
41.l
17.9

uo.1
46.3
.9
Jl.l
52.4
20.0

U4.J
46.J

161.5
41.1
1. l

111.'1
50.2
1.0
11.z
6'1.6

119.6

H.T
2.1
n.1

u1.o
100.6
31.9
1.1
Zl.'1

191. 3
109. l
41.6

42.7

ns.6
131.4
'1.3
2.7
36.4
30.7
1.3
53.4
50.7

2u.1
141.1 I
'6.9 9
2.3 10
39.6 ll
16.3 U

34.5
36 .3

199.6
113.7
4l.0
1.1
11.1
26.l
T.6
40.7
45.Z

19'0

.. ..

114.0
41.4

1n.1
43.l

11.,

109.5
40.5
•9
21.5
,1.1
U.4

24.J
JZ.6
14. I

21 ••
44.4
16.2

UJ.5
71.4
n.2
1.9
19.1
u.2
5 .J
25.2
26.9

134.4
lt.4
31.4
1.,
U.6
11.1
5.1
n.1
21.1

114.1
11.1
34.2
2.2
21.2
15.6
5.9
26.l
21 ••

160.6

101.1
40.4
19.7
J0.7

------·-----

BUSINESS - TOTAL

---------

••••

..,

zo.o

z,.o
7.J

,,.e

..

,

2,.,
27. l

,.o

40.2
42.0

.9

JJ.6
'1.6
Zl. 9

n.,

56.2
21.6

20'1.6
11,.,
50.4
2. 5
33.4
25.6
'1.11
44.0
43.9

.. ,., .. ..
.. . . . .
..
..,
....
,., ..
.. ..., .. .. ..
.,
.,
..
..
.,
-----------

f'Altll IUSINESS

1.2
6.4
.6
•l

7.6

1.0

4.9
1. J

••4
'1.5
.9

1 .5
'1.5
1.0

•l

.1

e.3
7.4
,.1
l.6

,.o

e.1
1.0
l. l

9.9

•l

1.4
6.9
1.5
1.,
•l

1.,
6. '1
1.6
l .4
.2

11.2

u.,

U.9

14.4
12.,
e.z
2.9
l .2

16.l
13.7

n.o

1.2
J.3
t.l
.z

U.6
11.5
'1.1
2.,
1. l
.4
.6

J.4
1.1
.6

3.4 9
l.4 10
.6 ll

2.1

2.,

2.2

2.1

2.4 U

2.1

2. J

1.0

.1 14

9.5
6.l
z.s

.,

.2
.6

.2

.9

1.2

1.4

1.1

2.1

1.0

.4

•l

a., u

511.2 14
51., u

,

.2
.6

•l

'

6.9
t.4
1.2
•l

l.9

.6

•,

'1.0
1.3
1.2
•1

10.a
6.7
J. l
1.0
.2

.4
.4

4

"• l
1.2
1 •1
•l

5.6
2.0

1. l

,

11.'1
H.l
29.J

l
2

,

7.Z
t. l
1.0
•l

'1.0
1.0
•9
.1

,

,

z,.1

'°·'
1.0

•e

.,

•J

,.o

·"

l

z
3
4

,

•
••• •'
. u

14.6

,

------------

NQHFAIIN NONC01t,Olt&TE IUSINESS
TOTAL FINANCIAL ASSETS
O!MMtO OP. AHO CUlllt.
C:ONSUNE" CIIEDIT
IIISCELUNEDUS ASSETS

'
•

TOTAL Lt&IILIJIES
UEOIT MAMET [NSTllUNfNTS
HONE IIOllTGAGfS
MULTIFAMILY ♦ C ONL. "TGS.
llNK LOANS N.E.t.
OTHElt LOANS
TaAOE OEIT, NET
TUOE OUT
TitADE IIECEIYABL£5

,

6

8

10
ll
lZ

u

.. . .

u.z

I
2
3
4

,.,

•••

... ,

6.3

.,

.,

1.4

z. l
-2.0
4.t
6.l

11.1
..9
1. 9

,.1
1.1
.6
3.7
1.1
2.l
-1.'
5.4
7.3

,.,
2.2

U.6
1. l

,.,
•••

1.0
4.l
l .s
Z.6
-t.6
6.3
1 ·"

u.•

..'
,.,

9. l
2.6
1.2

1.0
4.6
1.2
2.9
-1.0
1. 3

8.3

,.,

U.6

14.4

2.e
1.3
9.4
10 ...
l.1
,.z
1.0
3. l
-1.0
7,6
11.5

u.,

,.1

J.3
l •"

to.a
3.6
1.,

10.,

ll.9

l. l
5.9
t.4
3.5
-1.1

.a
6.7
1.1
3.9
-1.2
, .1
10.1

u.o

u.o

,.o

10.,

---------------·-----

C OIIPOIIA TE NONF I NANCIAL BUSINESS

--------·-------------------·-----l

z

..

3

,

6
1
8

•

10

ll
12
ll
l4

15

16
l'1
Ill
1q

TOTAL flNANtl&L ASSETS
LIOU 10 ASSETS
Df,.&HO OEP. ANO CUIIR.
TINE OEPOSI rs
U.S. GOVT. SEC:URITIES
Ol'EN-NARl(ET PAPER
Sr&TE ANO LOCAL OILIGATIO
CONSUNEII CIIEOIT
TUOE CIIEOIT
N ISC • F INANC UL ASSETS
TOTAL LUIIILITIE�
CIIEDIT NKT. INSTAUNE!tTS
COIIPOll&TE IIONOS
MORTGAGES
ll&Nll LOANS N.l:.C.
CTHEII lOA�S
PROFIT TAXES PAYABLE
TRADE DEBT
MISC. LIABILITIES


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

11.0

U.9

.,
•
.1

Zl.4
•9
lS.J
.1
.3
2.2
24.4

42.8
20.4

21.1

•• 1

20.6
7.9

83.l
41.7

23. 5
8. 5
7 .5
2.1
l O. 8
19. 8
10. 7

n.o

e.J

92.'1

47. 7
24 ,4
10.0
11. 3
2. 0
8 .8
22. 5
13. q

.. .. ..

az.4
39.l
z,·.6

u.2
4 0.3
21.11

...

, ... 8
•J

14.0
.2

.

2.9
30.7
,.1

..
1.4
JJ.3
ll.2

107. 7
54. 9
27. 2
11.6
14. l
1.9
11. 3
25 _q
15. 7

116.4
60.6
31,4
12.7
14 .6
2. 0
12. 1
27 .o
16.6

92.3
0.4
24.9

ll0.6
47.9
26.4
.9
19.6

..

...

ll'l.l
so. 7

za.o

4.6
4♦.4

U.l

115.6

138.4
68 . 3
35.7
14.4
16. 0
2. l
17. 3
33.9
19.0

156. 2
76. 7
38 .9
15. 2
20. 2
2.4
21.9
36,8
20. 7

12.s

62. 3
34. 2
13. 5
12.6
2 .o
9. 7
2�. 7
17 .8

12.4
13.9
.9
7. l
1.,

u.2
14.4
.9
1.,
1.a
4.2
-1. l
10.9
12.1

...o

-1.,
10.0
11.,

•••

u.,

11.,

IC. 9
4.3
z. l

ll.2
4.4
2.1

ls. y
15.3
,.2
1.,
1. 9
4.2

111.a
17.0
l.4

.,

12.6
12.1

-------------

1.,
32.6

.,

16.5
10 ...
4.2

a.,

2...
4.7
1.9
14.l
12.2

u.1

...

11.,
4. 1
2.4

,

11.e
1.2
8.9
2.1

l
2
3
4

'

6
1
II
9
,.o 10
1.e 11
ts.4 12
11., n

--------------

-----------------------------------------

.,
20.5
.5
.1
s.1
48.l
15 .2

16. T
.5

1,.2
10 .4
4.0
1.1

.... ..,.

126. 3
51.0
211.,
• CJ

,.,

.1

,

U9.5
53. l
28.9

ll.4
1.0
6. l

135.9
53.2
31.0
l.l

155.4
58.1
32.t

6.4

1.0
23.J
1.2
1.2
7. l

200. 7
100. 8
53 .3
20. 3
24. 9
2. 3
20 . l
4q_ 2
30. 6

,.,.,

t.o
,.o

52.4

l 7.0

51.6
18. 7

56. 2
20. 2

165.0
83. 5
4l. 6
16. l
22.0
1.9
18. 7
39 .4
23.4

172. 8
87. 8
4 7. 0
16,9
21.6
2. 3
19. 3
39. 8
26.0

177.5
92. 2
50.4
18. 5
20.9
2. 4
16.0
41. 4
27,9

67.6
22 .o

162. 7
54.1
32.2
1.0
11.e
1. 3
l .3

l

..

2
3

,

6

.,

7. 6 8
75. l 9
25. 3 10

217. l
111,4
56. 9
21,9
30. 2
2. 3
18, l
54 .o
33. 7

11
12

13

14
15
l6
17
18
19

FEBRUARY, 1970
BUSINESS

BUSINESS
SECTOR STATEMENTS OF FINANCIAL ASSETS ANO LIABILITIES
I 8 Ill lDNS OF DOLLARS I

55

55

--------------------------------------------------------------------------------------------------1968
1967
1959
1961
1960
1958
1957
1962
I S66
1963
1'165
1964
------------------------------------------------------------------------------------------------NONF I NANCIAL BUS !NESS - TOTAL
-----·----------------------------------------------------------------------------

YEAR-ENO l EV El S, 1957-68

l

z

3
4
5
6

7
8
9
10
11

12

13
14
15

YEAR-ENO LE VE LS, 1957 -68

TOTAL FINANC !Al ASSETS
DEHANO OEP. ANO CURR.
TIME DEPOSITS
CR ED IT HARKET INSTR.
TRADE CREO IT
HISCB.LANEOUS ASSETS

l 97.3
51.2
1.0
34.0
77.9
33.2

213.l
54.2
1.9
34.8
86.2
35. 9

229 .3
51.6
1.5
43.0
93 .9
39.3

235. l
50.4
2.8
39.4
99 .2
43 .4

250.3
52.l
4.6
40.0
106.2
47 .3

267.8
51.2
8.3
41.8
1 lit.8
51.7

287.5
50.2
12.2
44.7
122.8
57.5

302.7
48.2
15.4
lt6.8
130.9
61.5

328.3
46.7
19.2
47. 7
146.0
6A. 7

346. 5
H. 5
18.6
51. 3
157. 3
71. 9

362.8
45.4
22.7
50. 7
166.1
78. 0

393.3
46. 7
24. 8
59.7
180 .9
81. 2

1
2
.3

TOTAL l lABILITIES
CREDIT HK T INSTRUNE"ITS
CORPORATE BO"IOS
HOME MORTGAGES
OTHER MORTGAGES
BANK LOANS "I.E.C.
OTHER LOANS
TRADE DEBT, "IET
OTHER LIABILITIES

267. 0
155.4
63.2
2. l
42.2
38.0
9.9
59.7
51.9

282.7
166.4
68. 9
2. 6
46.6
38.2
1 o.2
64.3
52. 0

308.6
180.l
71.9
2.7
51.6
42.9
11.0
70.2
58.3

324.4
192.5
75 .3
2.1
56.4
45 .2
13.5
71.7
60.2

332.3
206.3
80 .o
2.3
63.2
46. 5
14.4
74.9
51.1

360.9
224.t
81t.5
2.4
11.1
50. 8
15.3
79.8
57.0

391.8
241t.2
BB.It
2.7
80.1
56. 1
16.8
84.7
62.9

419. 7
264.2
92.4
2.4
89.5
60.4
19.5
88.2
67.3

465. 5
293.8
97.8
2. 5
n. 6
72.7
22. 1
97.2
74. 5

512.4
326.4
108.0
1.6
I08. 3
82. 9
25. 6
104.7
81.4

553.7
361.9
122. 7

6 11. 5
401.7
135.6
3.0
128 . 4
101. 2
H.4
115. 5
94. 3

7
8
9
10
11
12

2.1

117 .5
90.6
28.4
108.7
�3.1

13

lit
15

------------------------------------------------------------------------------------------------BUS !NESS
--------·
---------- ---------------------- ---- ------ --------------------------·----·--------------·-FARM
6. 0
2.7
2. 3
.4

a. 1

9. I
6. 1
3. 0
2. 6
.4

1. 1

3. 5
.9
2. 5

42. 8
35. ij
23. 3
e. 6
3.9
.9
2.9

47. 1
39.2
25.5
9. 3
4. 5
1.1
3 .4

51. 4
42. 7
27. 5
9. 7 9
5. 5 I0
l. 9 ll
3. 7 12

5.5

6. 1

1.0

7.8

8. 6 13

.5

•5

•5

1. 7

1.1 14

22.3
12. 5
6. 3
3. 5

23.0
12.5
6. 6
3 .8

23. 7
12. 5
7. I
4. 1

24.5
12. 5
7.6
4. 4

25.4
12. 5
8 .o
4. 9

26.6
12. 5
8. 8
5. 3

36.2
34.4
1.4
19. 2
5 .o

41 .o
39.8
1 .2
22.8
5.5
10.3
1.2
15.1
13.9

46. l
45. 6
1. 3
2 5. 9
6. 5
12.0
•5
14. 5
14.0

50.3
51. I
•8
28. 7
7.8
13. 8
-. 8
13. 7
14.4

56 .o
56.I
1.4
31. 9
8.4
14. 5
-.1
14.8
14.9

61. 4
61.2
l. 5
35. I
9. 1
15.5
•2
15. 4
15. I

3

4
5

TOTAL F INA"IC !Al ASSETS
DEMAND DEP. Al'«> CURRENCY
Ml SCELLANEOUS ASSETS
INSU RANCE RECEIVABLES
EQUITY IN SPONSORED AG.

8.2
6.6
1. 6
1.4
.2

8.6
6.9
1. 7
1. 5
.2

8. 0
6.2
1 .8
1.6
•2

7.6
5. 8
1 .a
1.6
.2

7.7
5. 8
1.9
1.7
.2

7 .9
5.9
2. 0
1.7
.2

7 .8
5.7
2.1
1.9
•3

8. 2
5.9
2.3
2.0
•3

8.5
6. 0
2.5
2.2
•3

6
7
8
9
10
11
12

TOTAL LI ABILI Tl ES
CREDIT MARK ET INSTRUME"ITS
MORTGAGES
BA"IK LOA"IS N.E.C.
OTHER LOANS
U.S.GOVT.
F ICB+BKS FOR COOPS

18.3
15.6
10.4
3.8
1. 5
.6
.9

20. I
17.0
11.1
4.2
1.7
•6
1.2

22.4
1 a. 9
12.1
4.9
2. 0
.6
1.4

23 .6
20.0
12. 8
5. 1
2.1
.6
l .5

25. 5
21 .6
13 .9
5.3
2. 3
•7
1.7

28.4
23.9
15 .2
6.1
2.6

34.5
29.0
1 e. 9
7 .o
3.1
.9
2.2

38. 4
32. 3
21.2

1 .8

31.5
26.4
16.8
6.7
2.9
•8
2. 1

13

TRADE DEBT
MEMO- CCC DIRECT ANO G UARANTEED
LOA"IS NOT l"ICLUDEO ABOVE

2.6

3.1

3.5

3.7

3.9

4.5

5.1

.3

.8

•2

.6

.9

1.1

.1

19.8
12.4
4.9
2. 6

21.2
13.6
4 .9
2. 7

20.7
12. 7
5.1
2.9

20.8
12.4
5. 3
3.0

2 I.3
12 .5
5. 5
3.2

21.8
12 .5
5.9
3.3

21 .2
18. 7
1. 0
9.3
2. 8
5. 6
2. 5
15.5
13. 0

22. 2
20. 3
l. 3
10. 3
2.9
5. 8
1. 9
16.0
14. I

24. 7
22.6
1.'+
11.4
3.2
6. 5
2.1
16. 0
13 .9

26. B
24.2
1.0
12 .6
3. 5
7 .1
2. 6
16. 1
13.6

29.5
26. 6
1.1
14.4
3. 9
7. 1
2 .9
16.B
13. 8

32.7
30.0
I.2
16 .6
4.4
7. 8
2.7
16 .3
13.6

1
2

14

4
5
6
7
8
9
10
11
12

13

.1

9. 4
6. 1
3.3
2. 8
.5

-------------------------------------------------------------------------------------------------ARM "I ONCORPORAT E BUS l"IESS
----------------------------·
--------------------------------------------------------------------·NO"IF

TOTAL FI NA"ICIAL ASSETS
OE MAND OEP. ANO CURR.
CONSUMER CREDIT
MlSCELLANEOUS ASSETS

.

TOTAL LIABILITIES
CREDIT MARKET ms TRUHE NTS
HOME MORTGAGES
HULT IFAM IL Y
COML. M TGS.
BA"IK LOA"IS N .E .C.
OTHER LOANS
TRADE DEBT, NET
TRAOE DEBT
TRACE RECEIVABLES

a. 0

1. 7
15. 3
13.6

4
5
8
9
10
II
12
13

----------------------------------------------- ----------------------- --------------- -- ----------CORPORATE NONFl"IA"IC IAL BUSINESS
--------------------------------------------------------------------- - ----------------------------

4
5
6
7
8
9
10

TOTAL FINANCIAL ASSETS
LIQUID ASSETS
OE MAND OEP. A"ID CURR.
Tl ME OEPOS ITS
u. s. GOVT. SECURITIES
OPEN-MARKET PAPER
STATE A ND LOCAL OBL IGATIO
CON SUM ER Cl\ ED IT
TRADE CREDIT
MISC. FINANCIAL ASSE TS

169. 3
54.5
32.3
1.0
18. 4
1.4
I.5
7. 9
77.9
29.0

183. 3
57. 1
33.6
1. 9
18. 4
1 .2
2.0
8.4
86.2
31.6

200.6
62. 8
32 .6
1 .5
25 .o
1.1
2. 6
'l .3
93.9
34.6

206.7
59.3
32.2
2.8
19 .5
2.4
2 .4
9.7
99.2
38. 5

221.3
63 .o
33.8
4.6
19.2
3 .o
2 .4
9.9
106 .2
42 .2

238.2
66.4
32.8
8.3
19. 6
3. 5
2.l
10.6
114.8
46.4

257.3
71.1
32.0
12. 2
20.2
4.4
2. 3
11.6
122. 8
51.8

271. 5
72. 3
2�. 8
15 .4
I8.6
6. 0
2. 5
12 .9
130. 9
55. 4

296. I
74. 0
2 8. 2
l'l. 2
17.0
6. 5
3. 0
14. 1
146.0
62. I

313. 3
75 .9
28.9
18. 6
15. 8
9. 5
4 .o
I 5. 3
I 5 7. 3
64.8

328.4
75. 8
26.8

11
12
13
14
15
16
17
18
19

TOTAL l I ABIL ITIES
CREDIT MKT. l"ISTRUMENTS
CORPORATE BONDS
MORTGAGES
BANK LOANS N.f .C.
OTHER LOA"IS
PROF I T TAXES PAYABLE
TR ADE DEBT
MISC. LIABIL !TlES

227.6
121. 1
63.2
23,6
31.4
2 .8
16. 0
54.6
35.9

240. 5
129. l
68.9
26. 5
31.1
2. 7
13.4
59.4
38. 6

261 .5
138.6
71. 9
29.5
34.8
2. 5
1s .e
64.6
42. 5

274.0
148.3
75. 3
32 .o
36.6
4. 3
13.6
65 .5
46.6

277.3
158 .2
80.0
36 .o
37.3
5.0
15. 1
68 .o
36 .o

299. 9
170. 3
84.5
40. 5
40 .4
5 .o
I5.7
72.6
41. 3

324. I
183. 3
88 .4
45.4
44.'+
5. 1
17.6
77.9
45. 3

344.1
195.4
92. 4
49 .0
48. 0
6. 0
18 .5
81.5
48. 8

38 1.0
215.'l
97. 8
52. 8
58. 6
6. 7

41 'l. 4
239.5
108. 0
5 7. I
66.4
8.0
20. 9
98.4
60. 5

450. 7
266. 6


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

20.1

90. 6
53.8

22.1

12. 8
10.0
3.6
16.3
166. l
10. 2

122.1

61 • 6
72.9
9 .4
16. 8
101 .o
66.3

357.2
85. 9
28. 1
24. 8 4
14. 5 5
14. 5 6
4. 0 1
17.'l 8
180. 9 q
72.6 10
4'18 .7
297. 8
135. 6
67. 3
82. 5
12. 4
20.5
I 06. 7
73.8

11
12
13
14
15
16
17
18
19

FElllUARY, 1970
IOVl:ltNMENTS

GOVERNME HTS
SECTOR STA TEMENTS OF FINANCIAL ASSETS AND LUIIJL ITIES
I BILLIONS OF DOLLARS I

56

56

-----------------------------------------------------------------------------1947
1956
1951
l91t8
1952
l91t9
1955
1950
1946
l951t
1945
1953
--------------------------------------------------·
---------------------------STATE AND LOCAL GOVERNMENTS - GENERAL FUNOS
--------------------------------------------------------------YEAR-END LEVE LS, 1945 -56

YEAR-END LEVELS, 1945-56

15. 7
NA
6.1
l.l
NA
NA
1.4
.2
.1
.7

16,4
NA
6,3
l, 3
NA
NA
l. 7
•2
.2
.6

17.9
NA
6. 7
l,lt
NA
NA
2.0
.3
.2
•8

19.2
NA
7 .o
1. 5
NA
NA
2. l
.5
•3
.9

20.9
l C.5
7.lt
1,6
1-5
6,4
2,l
.6
.4
.9

22. 9
12. 6
7.8
2.0
2.9
6, l
2.3
.6
.5

25.3
12.8
7.3
2,4
3.2
7.7
2. 5
.7
•7
1.0

l
2
3
4
5
6
7

.9

24.6
12, 7
7. 5
2.lt
2,8
7.4
2, 5
•7
.6
.8

25. 7
13. 3
6 .9
2.4
4.l
7.4
2.5

.5

1".3
NA
5 .7
.9
NA
NA
1.4
•l
.1
.6

.9

9

17.0
16 .2
15, 7
.3
15.lt
.5
•8

18,6
l7. 7
17.2
.5
16,6
•5
.9

21.0
19.9
19 .3
18.6
.6
l.1

23.6
22.lt
21,9
.9
21 .o
.5
1. 2

27 .1
25 .8
25,2
1. 3
24.0
.6
l,3

29.5
28. 2
27,4
1.6
25, 8
.8
1.3

32. 7
31. 3
30,2
l,8
28,4
1.1
l,4

36.9
35,4
34.6
1,9
32. 7
.8
1.5

42.7
41,1
40.6
2.0
38,6
.4
l, 6

lt8.0
46 .3
45,8
2,l
43. 7
.5
1. e

52. 0
50. 1
49,6
2. 2
47,4

21. 9
-.l
lt,2
.1
7.5

29,2
1. 3
3 .7
•1
ll.8

n.o
1. 7
lt,8
.1
13.l

32 .8
1,9
5,2
.2
14,5

40.9
l ,6
4,9
.2
15. 2

48, l
l.6
5, l
•3
16,5

50,0
l,6
7 .4
,4
18,0

51.4
1. 5
5,9
•3
19,9

47. 5
1. 3
5.6
.4
19.6

51,4
l ,2
5.3
.4
20. 3

51. 3
1.11
5,0
•3
20. 9

.1

.6
.3
10,8
8 ,4
2,4
ll,O

•7
.3
12.2
9,5
2,6
ll,9

1. 2
•3
13.0
10.0
3,0
9,8

l ,5
.3
13.4
10,l
3.3
17.3

l. 3

1,3

2,8
.5
16, 7
12.0
4,6
20. 3
2. 2
1 .2

2, R
.6
16. 3
11, 8
4. 4
16. 8
2.4
1,4

2. 9
•7
16.7
ll, 8
4,9
20 .4
2,3
1. 7

ll,11

l. 2

2,5
.4
l 5,l
10.7
4,4
l9,2
2.3
1.2

2. 9
•7
17. 3

1,3

2,l
•3
14.l
10.3
3.8
22,l
1,3
1.2

lO
ll
12
B
14

248,0
223 .8
50, l
75.lt
97,0
.6
,II

15
16
17
18

12.5
NA
4.lt
.5
NA
NA
1.11
.2

12. 7
NA
5.l
.7
NA

9
10

TOTAL FINANCIAL ASSETS
LIQUID ASSETS
DEMAND DEP. AN D CURR .
TIME DEPOSITS
SHORT-TERM U,S.GOVT,SEC,
OTHER U.S.GOVT.SEC .
STATE AND LOCAL DBL JG.
CORPORATE BONDS
1- TO 4-FA MILY MORTGAGES
TAXES RECEJ VABL E

.5

ll
12
13
14
15
16
17

TOTAL LIABILITIES
CREDIT MARKET I NSTRUMENTS
STATE ANO LOCAL OBLJG.
SHORT-TERM
OTHER
OTHER LOANS I U.S. GOVT,I
TRADE DEBT

16.8
16.2
15. 7
.3
15.4
,5
.6

l
2
3
4
5
6
7

•

1
2
3
4
5
6
7
11

.

NA

1.5
.1

.1

.6

8

1.0 10

11
12
13
14
l5
.5 16
1,9 l7

------------------------------------------------------------------------------u. s. GOVERNMENT
--------------------------------------------------------------------------------------

TOTAL Fl NANCIAL ASSETS
GOLD + OFF, u.s. FGN, E lCCH,
OEMANO DEP,ANO CURRENCY
TIME DEPOSITS
CREDIT MARKET INSTRUMENTS
SPON 50REO CR ,AG,ISSUES
HOME MORTGAGES
OTHER MORTGAGES
OTHER LOANS
TO REST OF THE WORLD
TO OTHERS
TAXES RECEIVABLE
TRADE CR EDIT
MISCELLANEOUS ASSETS

•

45,4
26, 9
•1
5.2
.9
.5

.

.

.

4
5
6
7
8

3,8
1. 6
2.2
10,8
.9
1,5

.4
6.5
4, 3
2, 1
8 .8
.l
1.2

267.6
251, 5
42,9
NA
NA

243.7
22 8. o
44. 2
NA
NA

237.0
220.8
46,2
NA
NA

232. 0
215. l
47 .8
NA
NA

235.2
217. 7
49. 3
NA
NA

236 .o
216,5
49.6
NA
NA

238,l
216.1
49.1
NA
NA

243, 7
220,9
49.2
63.9
107. 3

250. 9
228.0
49.4
79. 8
96.6

253,1
230.4
50. 0
65. l
113. 0

•3

.1

,l

.9

1.0

.4

•3

.6

2. "3

2. 3

252 .5
229. 6
50,2
69.0
108 .8
.6
1. 0

-

20
21
22

2. 7
2.3
3,6
2,9
4.6

.7
2.4
4,8
3. 3
"· 6

2,4
5 .4
4.l
4.3

2.4
5.6
4,9
4 .o

2,4
5. 7
6,0
3.6

1.1
2,4
6,0
6.7
3. 3

2. 7
2,4
6.1
7.5
3. 3

2.e
2,4
6. 2
8,4
2.9

2,6
2. 5
6, 3
8.9
2.7

2. 4
2. 5
6. 0
9.4
2. 5

2. 3
2.5
5. 8
10.0
2. 2

2,6
2. 5
6. 1
10,9
2. 0

23
24
25
26
27

1 TOTAL FINANCIAL ASSETS
CURR, + DEM, DEPOSITS
2
3
CREDIT MKT. INTRUMENTS
4
u.s.GOVT. SEC,
MORTGAGES
5
IOME IFNMA I
6
MUL Tl-FAMILY I FNMA I
7
FARM IFLBI
II
9
OTHER LOANS
TO COOPS IBC I
10
TO FARMERS I FICBl
11
TO s + l' S I FHLB)
12
OTHER ASSETS
l3

2,l
.1
2. 0
.4
1.0

2. 2
.1
2,l
.4
l,O

2,4
.1
2 .3
•3
.9

2. 7
.1
2.7
.5
.9

2. 7
.1
2,6
.5
.9

3,l
,l
3,l
,4
1.0

3,4
.1
3,5
.4
1.0

3,6
,l
3,6
•5
1,l

3.8
.1
3. 7
.6
1. 2

4.2
.1
4. 0
•8
1.3

5.t
.1
5,0
l,O
1,6
.1

6. l
.1
6. l
1. 2
2. 4
.6

5
6

1,0
•7
.1
.3
.2
-.1

1.0
.8
.l
.4
•3
-.l

.9
1,1
.2
.5
.4
-.1

,9
l,lt
•2
.6
.5
-.1

.9
l .3
•2
,6

1.0
2, l
•3
.8

1.1
2, l
•3

-.2

,q

•9
-.2

1. 2
l, 9
,4
.6
1.0

1. 3
l,9
.4
•7
.9

1. 5
2.5
.4
•7
1.4

l. 7
2. 4

-.l

1.0
l ,8
•3
•7
.8
-.1

14 TOTAL LIABILITIES
CREDIT MKT, INSTR,
15
AGENCY SECURITIES
16
U,S.GOVT. LOANS
17

1,9
.9
.9

2. 0
1. 2
1. 2

2,l
l. 3
l,"3

2,4
1. 6
1,6

2,4
l ,4
1,4

2.8
1,8
l, 8

3. l
2.l
2,l

3.2
2.l
2.1

3.4
2. 1
2, l

3, 8
2,l
2.1

4. e
3.l
3.0
.1

5. 7
3. 8
3 .4
.4

1.0

.8
,l
.6
.1

•8
.1
.6
,l

.9
,1
.6
.1

.9
•3
.6
.1

l,O
.2
.6
.2

1.1
•3
.6
.1

1.1
,4
•7

1. 3
.6

l, 7
•8
.9

1.7

l,9 111
.1 19
l,1 20
,l 21

9

10
ll
12
l3
14
15

16

17
18
19

20
21
22
23
2,,
25
26
27

18
19
20
21

TOTAL L IAB ll ITJES
CREDIT MARKET INSTRUMENTS
SAYINGS BONDS
SHORT-TERM MARKETABLE
OTHER DIRECT
AGENC1 ISSUES
LOAN PAR TlCIPA TJONS
HOME MORTGAGES
TRADE DEBT
TREASURY CURRENCY LIABILITY
LIFE INSURANCE RESERVES
RETIREMENT FUND RESERVES
MISCELLANEOUS L IABILITIES

·"

5. 5
18. 6
2 .4
2. 2

9

19

---------------------------------·-------------------------------------------------------------FEDERALLY S PONSORED CREDIT AGENCIES
-----------------------------------------------------------------------------------

MISCELLANEOUS LIABILITIES
DEPOSITS AT FHl.8 1S
CAPIT Al SUBSCRIPTIONS
OTHER


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

.1

,3

·"

.9

.11

.1

1.0

,,

9
.5 10
• 7 ll
1. 2 12
-.1 l 3
14
15
16
17

FEBRUARY, 1970
GOVERNMENTS

GOVERNH ENTS
SECTOR STATEMENTS OF Fl NANCI Al ASSETS ANO LIABILITIES
(BILLIONS OF DOLLARS I

57

57

------------------ ------------------ ---------------------------------------------------------------------------------------------1967
1968
1957
1961
1962
1966
1960
1963
1959
1958
1964
1965
-------------------------------------------------------------------------------------------------STATE ANO LOCAL GOVERNMENTS - GENERAL FUNDS
--------------------------------------------------------------------------------------------------

YEAR-ENO LEVB.S, 1957-68

YEAR-ENO LEVELS, 1957-68

l
2
3
4
5
6
7
8
9
10

TOTAL FINANCIAL ASSETS
LIQUID ASSETS
DEHANO OEP. ANO CURR.
TIME DEPOSITS
SHORT-TERM U.S.GOVT.SEC.
OTHER U,S.GOVT.SEC.
STATE ANO LOCAL 08LIG.
CORPORATE BONDS
1- TO 4-FAMILY MORTGAGES
TAXES RECEIVABLE

26. 6
14. 8
6.9
2.8
5. 0
6.8
2 .6
.6
1.0
.9

27.7
14. 9
6. 9
3.6
4.5
7.3
2.7
.9
1.1
.8

28 .8
16.4
7. 0
3.2
6.2
6.5
2. 7
.9
1.4
.9

30. 8
17 .8
6.4
4.6
6.8
6.6
2. 7
1. 5
1.3
.9

32. 3
19. 3
6.1
5.5
7.7
6.0
2.8
1.3
2.0
1.0

35.4
22. 0
7 .o
6.5
8.6
5.9
2 .6
1.8
2.l
1.1

39.6
24. 8
8.2
8. l
8.6
6.2
2. 3
2.8
2.2
1. 3

44.3
27.2
9. 6
9. 8
7.8

11

TOTAL LIABILITIES
CREDIT MARKET INSTRUMENTS
STATE ANO LOCAL OBLIG.
SHORT-TERM
OTHER
C!THER LOANS I u.S. GOVT . I
TRADE DEBT

56. 8
54.7
54.0
2.3
51. 7
•7
2.l

62.6
60.4
59. 5
2.8
56.7
.9
2. 3

69 .o
66.6
65. 6
3.2
62 .4
1.0
2.4

74. 5
72. l
70.8
3.4
67 .4
l.2
2. 5

80.2
77 .5
711. l
3.6
72. 4
1.5
2.7

86.2
83.4
81.4
3.9
77.5
2. 0
2 .8

51. 0
2.l
5. l
•3
21. 6

50. 0
2. 0
5. 5
•3
23.1

55. l
2. l
6. l
24,9

55 .9
1.7
7.2
•3
25 .9

58. 6
1.9
7.2
•3
27. 5

3.1
•8
11. 1
12 .2
5. 5
16. 7
2.3
2. 9

3. 3
1.0
18. 8
12.0
6.0
14. 2
1.7
3 .2

4.2
1.4
19. 3
12. 8
6 .5
16. 5
1.7
3.4

4.2
1. 5
20. 1
13.3
6.9
15 .o
1.8
4, l

246. l
221.6
48.2
82.2
89.3
1.4
•3
.1

256.4
23D.9
47.7
79.4
101.7
.8
•8
.5

264.4
238 .o
45.9
84.7
105.5
.8
•2
.8

263.4
235.9
45.6
88.2
10D. l

2. 8
2. 6
6.2
11.3
1. 7

2. 8
2.6
6,2
12.3
1.5

1 TOTAL F INANC !Al ASSETS
CURR. + OEM. DEPOSITS
2
CREDIT MKT. INTRUMENTS
3
4
U.S.GOVT. SEC.
MORTGAGES
5
HOHE (FNMA I
6
MULTI-FAMILY I FNMA I
7
FARM IFLBI
8
OTHER LOANS
9
TO COOPS I BC I
10
TO FARMERS IF ICB I
11
TO s + l' S I FHLBI
12
OTHER ASSETS
13

7.5
•1
7.4
l.2
3.6
1.6
1.9
2.7

14 TOTAL LIABILITIES
CREDIT MKT. INSTR.
15
AGENCY SECURIT !ES
16
u.S.GOVT. LOANS
17

12
13
14
15
16
17

12
13
14
15
16
17
18
19
20
21
22

TOTAL LIAB [LITIES
CR EDIT MARKET INSTRUMENTS
SAVINGS BONDS
SHORT-TERM HARKETABLE
OTHER DIRECT
AGENCY ISSUES
LOAN PARTICIPATIONS
HOME "40RTGAGE S

11

23
24
25
26
27

18
19
20
21

2. 2
3 .'l
2. 2
1.9

1.0

53. 9
32. 7
9.4
13.5
9. 9
9. l
2, l
5. 6
2, l
2 .3

57, l
35. 0
8.9
15 .9
1 0.2
8. 5
2. l
7.l
2. 2
2.2

92.5
89.5
87.3
4. 3
83.0
2.2
3.0

98 .8
95.5
93. 0
4.9
88.1
2. 5
3.3

106. 8
103.1
100. 3
5. 5
94. 8
2.8
3.7

113. 6
109. 5
106.0
6. 2
99. 9
3. 4
4.2

122.0
117.4
113.8
7 .8
105.9
3. 6
4.7

132 .8
127. 7
123. 7
9. 5
114. 2
4.0
5. 2

62.8
1.2
8. l
.3
30.0

65.9
1.2
•3
31.4

70 .2
1.0
8. 3
.3
34,1

73. 4
1.1
6.9
•3
36.9

4.4
1. 7
21.4
13 .8
7. 6
15 .5
1,8
4.4

4 .5
1.7
23.7
14.9
8.8
16.6
2.0
4.6

4.1
1.7
25.5
16.0
9.6
17.9
2.5
4.9

4.0
1.7
28,4
11. 5
10.9
18.9
2. 7
4,B

3. 9
1. 7
31. 2
19. 0
12. 2
20.5
3. 1
4. 7

78.4
.9
6.8
•2
41.2
1.4
4.5
1. 9
33. 5
19.8
13. 7
20.4
4.4
4.4

82. l
1. 3
8. 3
•3
45. 8
1,3
5. 2
2.1
37.2
22. 3
14.9
16.3
5.8
4.3

91.5
3.3
6, 6
.4
51.0
1.4
6. 0
2.4
41.l
24. 5
16,7
1, 9 . 8
6,4
4.1

.6
1.3

271,8
243, l
46.4
98.9
95.3
.1
.9
1.5

280 .o
250.2
46.9
99.8
100.2
.1
1.4
1.7

285. 1
254.l
48.0
101.1
101.9
.2
1.2
1.8

292.6
260.6
49.0
105. 8
101.6
.4
2.0
1. 8

296.5
262.3
49.6
108. 8
99. 3
•3
2.4
1.8

302.6
265. 8
50. 1
110.2
99. 6
.3
3.7
1.8

318.1
278.9
51.0
118,9
99.0
.5
7.7
1.7

333. 2
292. 2
51. 5
119.4
108. 3
1.9
9,4
1.7

2,9
2.6
6,4
13.2
1.3

3. 1
2.7
6.4
14,l
1.2

3.4
2.7
6.5
15.0
1.0

3.7
2.8
6.6
16,0
•8

3.6
2. 8
6.8
17.2

3.4
2. 8
6.9
18.4
.6

1.0

3.9
3.1

4. 5
4.0
7.1
21. 0
•2

5.1
4.6
1.2
22. 3

5.l
5, l
7.2
23 .6

23
24
25
26
27

7. 8
.l
7. 7
l. 3
3. 5
1.4

10.1
•2
9 .9
1.4
4.4
2. l

11.3
.2
11.1
1.5
5. 5
2.9

12.5
.2
12. l
1.4
5.7
2. 9

14,l
.2
13.7
1. 8
5.9
2.8

15.6
.2
15.3
2.2
5.4
2.1

16.3
.2
16.0
1.8
5.7
2.0

18.6
.2
18. 3
1.9
6.8
2.5

23.8
.2
23. 4
2.9
9.4
4.4

23. 7
.2
23,3
2,9
11.1
5.5

27. 0
.2
26 .5
2. 7
13.1
7 .2

•5

2.4
4.1
.6
1.4
2.1

2 .6
4,1
.6
1,5
2.0
.1

2.8
5.0
.7
1. 7
2. 7
.1

3.1
6.1
•7
1. 8
3.5
.2

3.3
7.7
.8
2.1
4.8
.1

3.7
a. 5
1.0
2.2
5,3
.1

4.3
9.6
1.1
2. 5
6.0
•1

5.0
11.1
1.3
2,9
6.9
.3

5.6
9. 3
1.5
3.4
4.4
.3

•

.9
1.3

2. 1
3.0
•5
1.2
1.3

1
2
3
4
5
6
7
11
9
10
11
12

7.1
4.9
"· 8
.1

7.3
5.0
4. 9
.1

9.6
7.3
7.1
•1

10.8
7.9
7.9

11,9
8.6
8. 5
•1

13 .5
10.1
10.0
.1

14,9
11.5
11.5

15. 5
11.9
11,8
.1

17.8
14.2
13.8
.3

23.0
19.0
18. 9
.1

22.8
18.4
18.4

26, l
21.'9
21.6
.3

14
15
16
17

2. l

2.4
.8
1.4
.2

2 .3
.6
1,5
•2

2.9
.9
1.7
.3

3.3
1.2
1.8
.3

3.4
1.2
1.9
.3

3 .4
1.2
1,9
•3

3.6
1.2
1.9
.5

3,6
1.0
2.0
.5

4.0
1. 0
2.3
.6

4.4
1.4
2.4
.6

4.2
1.�
2.2
.6

19
20
21

11

12
13
14
15
16
17

------------------------------------------------------------------ -------------------------------u.s. GOVERNMENT
----------------------------------------------------------------------------------------------

TOTAL FINANC !AL ASSETS
GOLD + OFF. u.s. FGN. EXCH.
DEMAND OEP .ANO CURRENCY
TIME OEPOSITS
CREDIT MARKET INSTRUHENTS
S PONSOREO CR.AG.ISSUES
HOME MORTGAGES
OTHER MORTGAGES
OTHER LOANS
TO REST OF THE WORLD
TO OTHERS
TAXES RECEIVABLE
TRADE CREDIT
Ml SCELLANEOUS ASSETS

1
2
3
4
5
6
7
8
9
10

62. 3
39. 2
10. 0
19. l
10.0
8.7 6
2. 2 1
7.6 8
2•3 9
2.3 10

49. l
30.6
9.4
12. 2
9.0
7.7
2.2
4. 5
2. l
2. l

TRADE DEBT
TREASURY CURR ENCY LIA8 IL ITY
LIFE INSURANCE RESERVES
RETIREMENT FUND RESERVES
HI SCELL AN EO US LIABILITIES

.

•3

. .

1. 1

.

1

2

3

4

5
6
1

8
9
10
11
12
13
14
15
16
17

18
19
20
21
22

•
.6
.1
-------------------------------------------------------------------------------------------FEOERALLY SPONSORED CREDIT AGENCIES
-------------------------------------------·-----------------------------

HISCELLANEOUS LIABILITIES
DEPOSITS AT FHLB' S
CAPITAL SUBSCRIPTIONS
OTHER


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.1

1.3
.2

•

. .

•

19. 7

. .

•

•

6.1
10.5
l ,6
3.7
5.3
.3 13

111

FEBRUARY, 1970
BANK ING

BANKING
SECTOR STATEMENTS OF FINANCIAL ASSETS ANO LIABILITIES
C BILLIONS OF DOLLARS I

58

58

LEVELS, l945-51>
----------------·
---------------- ----------------------------- --- -------------------------------------------------------------------YEAR-ENO
1951>
1951
1954
19 50
1952
1949
1941,
1953
1955
1947
1948
1945
----------------------------------------------------------------------------------------------MONETARY AUTHORITIES
--------------------------------------------------------------------------------------------------

YEAR-ENO LEVELS, 1945-51>

8
9
10
II

2 3. 5
23.4
NA
NA

22.1,
22. I>
N4
NA

23.5
23. 3
NA
NA

19 .0
18.9
NA
NA

.I

.I

•2

.1

12
13
14

T OT AL LIABILITIES
VAULT CASH OF COMM. BANKS
MEMBER BANK RESERVES

49. 3
1.9
15.'l

49. 0
2. 0
lb.I

50.I
2. 2
17 .9

52 .5
2.0
20. 5

31.I
3. 3
1.2
21>. I,

30. 4

29. 3
2.2
.4
21>.7

29.4
2.4
•7
21>. 2

29.9
I. 7

29.8
1.1
.4
28. 3

.

143. 8
15.9
1.9
123.1>
111>.7
91.5
N,.
NA
•8
•3

133. 3
lb. l
2.0
113 .I>
ll O. 4
75.1,
NA
NA
1. 0
.l

131> .8
17.9
2. 2
115.7
113.7
70.l
NA
NA
l .o
.1

137 .8
20 .5
2. 0
113. 8
111.5
1,4.4
NA
NA
1.1
.9

139.9
lb.I>
2 .o
119.1>
111>.9
1>8 .9
NA
NA
l.J
1.0

147. 8
17.7
2 .2
125.9
123. 0
1>3.1>
NA
NA
I. 5
.4

151>.8
20.l
2.7
131.8
129.2
1>2.9
lb.7
44.1>
1.3
•3

lbl>.l
20.0
2. 8
141.9
138.8
1>5. 3
23. 5
39 .I,
1. 5
.b

170.5
20.2
2. 5
141>. 2
142. 7

11
12
13
14
15

OTHER SECUR IT !ES ♦ MTGS
STATE AND LOCAL OBL !G
CORPORA TE BONDS
HOME MORTGAGES
OTHER MORTGAGES

11.0
4.0
2 .2
2. 9
1.9

13. 8
4.4
2. 2
4.1,
2. 7

11>.9
5. 3
2.2
I, .3
3.l

18 .4
5.7
1.9
7.3
3.5

20.2
I, .5
2.l
7 .9
3.7

23. 9
8.l
2 .2
9.4
4.2

21>.0
9. 2
2. 2
10. 2
4.4

lb

OTHER CR. EXC. SECURITY
CON SUMER CREDIT
BANK LOANS N. E.C.
OTHER LOANS
OPEN-MARKFT PAPER
HYPOTHECATEO DEP.
SECURITY CREDIT
M !SCELLANEOUS ASSETS

14.3
1.4
12. b
•3
.2
.1
I>. 8
2.5

21.0
2. I,
l7. 9
•5
.4
.1
3. 2
1.5

21>. 7
3 .e
22.2

28.7
4.8
23. 2

.5
.1
2.l
1.0

•5
.2
2.3
1.1,

27 .9
5. 8
21.4
•7
•5
•2
2.1,
l.7

35. 5
7 .4
21.2
1.0

135.9
101.4
24.5
71,.9

124. I>
87. 7
3.0
84. 7

127.7
89.9
l. 3
88.1>

128. 4
89.4
2. 3
87 .o

130 .o
90.2
3.l
87.l

24
25
21>

21

T OT AL L !ABILITIES
OEMANO DEPOSITS, NET
u.s. GOVERNMENT
OTHER

28
29
30

TIME OEPOSI rs
LARGE NEGOT.
OTHER

3l
32
33
34
J5

FEDERAL RESERVE FLOAT
BORROWING AT F. R. BANKS
CORPORATE BONDS
TAXES PAYABLE
MISCELLANEOUS

co• s


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

30. 0
1. 2
.4
28. 5

28.1>
1. 5
•5
21>.5

.I

TOTAL FIN ANC!AL ASSETS
,_.EMBER BANK RESERVES
VAULT CASH
TOTAL LOANS A ND INVESTMENTS
CREO IT MARK ET INSTRUMENTS
u .s. GOVT. SECURITIES
SI-ORT-TERM DIRECT
OTHER DIRECT
AGENCY ISSUES
LOAN PARTICIPATIONS

11

29. �
I. 4
.5
28.0

53 .I>
2. 5
20. 2

I
2
3
4
5
I,
7
8
9
10

18
19
20
21
22
23

53 .5 12
3. 3 13
19. l 1't

53. I>
2. 8
20.0

DEM AND DEP. AND CURRENCY
DUE TO u.s. GOVERNMENT
DUE TO REST OF THE WORLD
CURRENCY OUTSIDE BANKS
TAXES PAYARLE
OTHER

•8
26. 9

53. 0
2. 7
19.0

52. 2
2.1
20.l

15
lb
17
18
19
20

2.1

52.4
2.5
18. 9

25. I
24. 9
19. 9
5. l

28. 2
2.0

48.l
24. l
4.4
.5

.

25 .9
25. 9
11>.5
9. 4

28 .5
2.I
•8
25. I>

52 .5
24.0
4.4
•5

1

.

23. 8
23.8
NA
NA

4'l.4
2 .2
17.7

.b

50. l
22 .5
4.4
•5

4
5
I,

52. 4
21.7
4.8
•8

48.I
2.0
11,.1,

49. 0
20. 5
4. 4

53. 5
21. 9
4.9
1. 7

53. I>
22. 0
4. 7
.9

52. 2
22.7
4.1>
1. 2

49. 3
20.l
4. 2
.I>
•2
24. 3
24.3
NA
NA

53.0
21. I>
4.9
1 .1,
.l
24. 8
24.8
21.2
3. I,

53 .I>
23. 2
4.7
l. 0
.1
24.7
24. 7
14.1,
10.I

49.4
22.7
4 .5
l.4
.l
2D. 8
20 .0
NA
NA

TOHL FINANCIAL ASSETS
GOLD AND FGN. EXCHANGE
TREASURY CURRENCY
F .R. FLOAT
F. R. LOANS TO DOMESTIC B4NK
CREDIT MARKET INSTRUMENTS
u .s. GOVT. SECURITIES
SHORT-TERM MARKETABLE
OTHER
AC Cf PTANCES
BANK LOANS N. E .C.

.b

25. I>

.b
21. 1

4
5
25.0 I,
24. 9 1
22 .2 8
2 .1 9
.I 10
11

.

. .

30.I
1. 2
•3
28.5

15
lb
17
18
19
1.1 20

1.2
l.2
I.3
1
1.0
1.1
•7
l. 0
.9
.4
•5
--------------------------------------------------------------- -- ----------------------------COMMERCIAL BANKS
-----------------------------------------------------------------------------------------------•

---

.b

.1

32. l
31. 4
l.3
2.3

185. 1
19. 0
2.7
ll>l.b
151>. 5
1>4.1>
12.l
49.1,
l. 8
1.0

28.0
10. 2
2.1
11.1
4.1>

29.1>
10.8
2.l
11.9
4.8

32. 9
12. I>
1.9
13. 2
5. 2

35. 2
12.7
1.7
14.9
5.9

31>. 7
12. 9
l. 3
11>.l
1,.4

11
12
l3
14
15

•3
2.9
2.l

40.3
1.5
31.5
l.4
1.0
.4
2.1>
2. 3

45. 5
9.4
34.5
1.1>
1. 3
.4
3. 2
1. 5

41>. 0
10. 9
33.5
1.1>
1. 2
.4
3.1>
1.1,

41>.4
10.9
33.9
1.1,
l.l
.5
4. 5
l.9

51>.7
13.2
42.l
l.4
.9
•5
5.0
1 .9

1,4.0
14.1>
47. 9
1. 5
.9
.I,
4. 3
2. 3

lb
17
18
19
20
21
22

137 .4
95.7
2.8
92. 9

145. 8
102.4
3.4
99.I

l54.5
107. 5
4.9
102.1>

158.3
107. I>
4.1
10 3. 5

11>1>.7
112.I
4.2
107.9

171.5
114.2

l 71>. 9
115. 9
3.7
112. 2

24
25
21>
Z1

.1

1,1.0

3.1

110.5

30.4

34. 2

35. 5

31>.2

31,.1,

31>.9

38.7

H.7

45.1

48. 9

50.3

30.4

34. 2

35 .5

31,. 2

31>. I,

31>.9

3B.7

41.7

45. l

48. 9

50.3

.b

.b

•5

•5

.5

l.4
.1

1.2

1.0
.1

.9

•B

1.1>
.1

•3
2.9

.4
l.'l

.2
l. 5

.3
2. 0

.3
2.3

.5
2.8

.I>
2.9

•8
3.4

1.0
3.6

.9
3.9

.1,
4.8

.2

191.3
19.l
3. 3
lbl>.7 4
l 1>2.4 5
bl.7 I,
15. 8 1
43 .5 8
1.1, 9
. 8 10

179. 7
18.9
2.5
151>. 4
152.0
72.1>
l 7. 0
51. 9
l.4
2. 3

.

2l

-

52. 3 28
29
52 .3 30

.

1. 7 31
32
33
.9 34
1,.1 35

-

FE!PUUY• l970
UHKING

UNlttNC
SECTOII SUTE"EHTS OF FINANCIAL ASSEfS ANO LU81llTt ES
IIIILLIOHS OF DOLLUS I

S'l

S9

YUII-ENO LEVELS, 19!11-611

YE•R-ENO lF.vt;LS, 19'7-61

-----------·-----------------·------------------------------------------------------------------------------1'151!
1 959
l9'H
--------------·-

l
2
3
4

'
•

6
1
9
10

lt

lZ
u

14

l5

16

l'P
11

1•
20

l'f60

1961

1 962

----------------------------------·-----·--,,.,
n.s

TOTAL FININCUL ASSETS
GOLD AND FCN. EXCHANCI:
TRUSUIIY CURRENCY
F.111. FLOAT
F.11. LOANS TO OO"ESTlC IIANK
CIIEOIT NRKET 1NsT11u,mns
GOVT. SECUA tTll:S
SHORT-TERM MAAKETA9lE
OTHEII
ACCF.PTANCES
IANI( LOANS 11.e.c.

53.3
20.5

MONf'U,-Y AUTHORITIES

.1

30.9
30.9
20.l
10. l
•1

u.a
)3.6
25.6
a.o

.2

3'P.2
,, .o
u.2
a.1
•l

,2.2
3,l

51.6
3. 1
l 1.4

5s.1
4.3
l 1.5

51.5
5.0
l 1.0

60.t
4.5
u.1

30.6
.9
.2
29,5

31.4

.,
)O,Z
•

ll .J
1.0
.,
31.0

l 9.0

53.1
3.2

u.s

5!.l
3.0
u.2

0OaND OE"• AIIO CUIIAENCY
OU! TO U.S. GOVERNMENT
OU£ 1'0 ltEST OP THE IIOIILO
CUllltENCY OUTSIDE BANKS
TAXES P&YHlE
OTHElt

10.1
1.2
.4
29.5

J0.1
a.o
.3
211,9

30.8
.9
.4
29.6

1 •l

1.1

T OT Al FINMCUL ASSETS
NEMtlEII HNII ltES!AVES
v•vLr CASH
10TAL LOANS All> IIW!STIIIENU
CIIEOIT IIMK fT INSTlllJtlENTS
U.S. GOVT. SKUIIITIU
SHOllf-UltM OlltECT
OTHftl DIRECT
AGl!NCY ISSUES
LOAH PAaTICIPUIONS

197.0
19.0
,.1
1n.o
167, T
61.6
1,.2
40.0
2.1

Zll.7
u.s
1.2
187. t
uz.5
10.2
n.2
41.0
2.2
.1

211.0

OTHa SECUlllTIU ♦ llff.S
STATE MID lOCAl 08llG
COtlPOltAT! 80NDS
HONE NllllGlGES
01"1!A NQltTGAGES

11.4
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IIAHK LOANS N .e .t •
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SfCUIIITY C"(OIT
NISCllUIIIEOUS ASSETS

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FEBRUARY. 1970
NONIIANK FINANCE SUM�RY

NONBANK FINANCE SUMMARY
SECTOR STATEMENTS OF F INANC Ill ASSETS ANO LIABILITIES
I Bl LL! ONS OF DOLLARS I

60

60

YEAR- ENO LEVE LS, 1945-56
Y EAR-END LEVELS. 1945-56
-------------------------------------------------------------------------------------------------------------------------------1954
1955
1952
l 'l56
1951
1949
l'l53
1948
l 'l50
1947
1946
1945
------------------------------------------------------------------------------------------------PR! VATE NONBANK FINANCIAL INSTITUTIONS - TOTAL
-------------------------------------------------------------------------------------------------1
2
3

4
5
6

1
8

9
10

11

12
13

14
15
16

TOTAL Fl NANCIAL ASSETS
DEMAND OEP. ANO CURRENCY
TIME DEPOSITS I MSB I
SVGS. + LOAN SHARES (CR UI
CREDIT MKT. INSTR.
u.s. GOVT. SECURIT! ES
STATE + LOCAL OBLIG.
CORPORATE + FGN. BONDS
CORPORATE STOCKS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
OTHER LOANS
SECUR !TY CREDIT
TRADE CREDIT
MI SC Ell ANEDU S ASSETS

95. 3
4.2
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86.4
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93. 6
44.2
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4.6

110.5
5.2
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100.9
42. 8
2.3
20.l
5 .8
14.6
8.2
2. 7
4 .4

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5.3
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110.6
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4.6

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34.9
66.3
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1.7
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2. 7
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38. l
71.7
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2.5
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1.1
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43. 2
78. 5
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2.3
3.9
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3.1
2. 3
1.4
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17 2. 3
48.9
85. 8
14.0
3. 7
4.1
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2. 6
1.6
1.0

l 91. 8
55. 6
93.6
I 6. 5
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3.3
2.4
l. 5
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217.4
62. B
103.8
22.9
5.4
7 .8
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5.6
3.1
1.7
1.4

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11.4

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12.4

2. 5
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13.4

2.9
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2.6
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17.7

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19. 2

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.7
20. 9

4.7
•7
22.5

4. 2 28
.6 2<1
24.6 30

19.2

19
20
21
22
23
24
25
26
27

TOTAL L l ABILIT IES
TIME + SVGS. ACCOUNTS
INSURANCE ANO PENSION RES.
CREDIT MKT. INSTR.
FINANCE co. BONDS
INVESTMENT co. SHARES
MTG. LOANS IN PROCESS
BANK LOANS N.E.C.
OTHER LOANS
FINANCE co. PA PER
FHL B LOANS

82. 6
23. 1
44.1
2.l
•2
1 .3

28
29
30

SECURITY CREDIT
TAXES PAYABLE
MISCELLANEOUS L IAB ILIT !ES

3.9
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9. 3

17

11

.

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263. 5
8. 6
.2
.4
242.6
34. 5
11.1
56. 9
27 .2
69. 2
22.0
15.4
6.3

1
2
3
4

5
6
7
8
9
10
11
12
13

3. 7 lit
l.3 15
6. 7 16
236. 2
70. l
112. 3
24 .5
6.3
9. 0
.9
5.1
3.1
1.9
1. 2

17
18
19
20

21
22
23
H
25
26
27

----------------------------------------------------------------------------------------------------------------------- - - - -- -------------------------

SAVINGS ANO LOAN ASSOC !AT IONS
1
2
3
4
!I

6
7
8
9

10
11
12
13

14
15
16
17

TOTAL FINANCIAL ASSETS
DEMAND OEP.ANO CURR.
CREDIT MKT. INSTRUMENTS
u.s. GOVT. SECUR !TIES
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
MISCELLANEOUS ASSETS

8. 7
.4
7. 8
2.4
5.2
.2

TOTAL LIABILITIES
SAVINGS SHARES
CREDIT MKT. INSTRUMENTS
MTG. LOANS IN PROCESS
BORROW I NG FROM FHLB
BANK LOANS N.E.C.
TAXES PAYABLE
MISCELLANEOUS L IABILI Tl ES

8.1
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10.7
1.7
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11.9
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13.2
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13.1
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.9
20 .5
1. 8
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1.3

26. 7
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24. 3
1.9
21.0
1. 0
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1.6

31. 6
l.2
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2.0
25.0
1.1
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1.9

37.7
1.4
34.3
2. 5
30.0
1.4
.5
1.9

42.9
1.4
39 .2
2.9
34. 0
1. 7
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2.2

9.5
8.6
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11.0
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·"--------------------------------- --------------------------------

MUTUAL SAVINGS BANKS
------------------------------------------------------------------------------------------------1
2
3
4
5
6
7
(I

9
10
11
12
13
14

l!I

1
2
3
4
5
6

TOTAL FINANCIAL ASSETS
DEMAND OEP. ANO CURRENCY
T !ME DEPOSITS
CREDIT MKT. INSTRUMENTS
u.s. GOVT. SECURITIES
STATE ♦ LOCAL GOVT. SEC.
CORPORATE BONDS
CORPORATE STOCKS
HOME MORTGAGES
OTHER MORTGAGES
CON SUMER CREDIT
OTHER LOANS
M ISCELLANEOUS ASSETS
SAVINGS OEPOSITS
Ml SCEllANEOUS L !AB IL IT !ES

TOTAL FINANCIAL ASSETS
DEMAND OEP. AND CURR.
SVGS. ♦ LOAN SHARES
CREDIT MKT. INSTRUMENTS
CONSUMER CREDIT
t«lME MORTGAGES
CREDIT UNION SHARES


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

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17. 7
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18 .6
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30.2
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24.3
9.5
.3
2.5

30.0 14

1.7
.2

2. 9
.3
.4
2.2
2.0
.2

1
2
3
4
5
6

2.4

2.9

7

·"
1.9

FEBRUARY, 1970

NONBANK FINANCE SUMMAR Y

NONBANK FINANCE SUNMAR'f

SECTOR STATEIENTS OF FINANCIAi.. ASSETS AND LIABILITIES
I BILLIONS OF DOLLARSI

61

----------------------------------------------------1960
1957
1958
1959
1961
1962
196 3
- ----------------------------------PRIVATE NONBANK FINANCIAL INST ITUTI CNS - TOTAL

Y EAR-END LEVELS, 1957-68

---------------------

1
2
3
4
5
6

7
8
9
10
11
12
13
14
15
16

TOTAL FIN .INCIAL ASSETS
DEMAND OEP. ANO Cl.RR ENCY
TIME DEPOSITS IMSBI
SVGS. + LOAN SHARES IC R UI
CREDIT MKT. INSTR.
u.s. GOVT. SECURITIES
STATE + LOCAL OBLIG.
CORPORATE ♦ FGN. BONDS
CORPORATE STOCKS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREO IT
OTHER LOANS
SECURITV CREDIT
TRADE CREDIT
MISCELLANEOUS ASSETS

61

-----------1966
1967
1965
1964
1968
--------------------------------------------------------------

YEAR-EN> LEVELS, 1957-68

281. 6
8.9
•1
.4
259. 8
34.3
12.4
63.1
26. 7
75.5
23.6
16.4
7. 8

112. 5
9. 7
.2
.6
287. 8
35.l
13.9
68. 5
37.3
83.5
26.0
15.9
7. 5

342 .5
9.6
.1
•5
317.1
36.1
15. 8
73.0
43.8
93.l
28. 5
18.4
8.6

371.0
10.1
.1
•3
344.0
36.0
11.2
77.9
4 7 .5
102.0
31.8
20.6
11.1

413.6
11.3
.2
.5
382.7
36.9
18.3
83.3
62.9
112.4
36.2
21.l
11.6

441.8
12.l
.2
.6
408. 7
38.9
18 .e
89.4
59.9
123.5
42.1
23.6
12.6

489.8
12. 3
•1
.1
453.3
38.6
18.8
95.5
72.6
137.5
49.4
26.6
14. 3

536.1
12. 7
•2
.e
497.6
40.8
18.8
10 1.7
82.9
150.5
57.2
29 .7
16.0

587.5
13.0
.2
.8
546.6
40. 7
18. 3
109. l
98.5
162.5
65.0
33. 5
18.9

611. 8
12.9
.2
.5
569. 7
41.0
19. 1
111. 2
94.1
168.0
71.8
36.3
22.2

676.1
14.0
.2
.8
626.8
40.l
20. 3
128.2
123.2
175. 8
78.6
37.8
22.8

3.5
1.5
7.4

lt.5
1.6
8.2

4.5
1 .8
e.e

4.5
1.9
9 .9

5.6
2. 0
11.4

5 .3
2.2
12.6

7.2
2.3
13.9

6.7
2.5
15.6

6. 9
2. 6
17.3

6.8
2.9
18. 7

9.6
3.2
21. 6

735 .7
15.0
.3
.6
681.9
42.0
21.3
137.6
llt3.l
184.3
85.6
41.6
26.5

1
2
3
4
5
6
7
8
9

10
11
12
13

11.6 14
3.5 15
22. 8 16

17
18
19
20
21
22
23
24
25
26
27

TOTAL LIABILITIES
TIME + SVGS. AC COUNTS
INSURANCE ANO P ENSION RES.
CREDIT MKT. INSTR.
FINANCE CO. BONDS
INVESTM ENT co. SHARES
MTG. LOANS IN PROCESS
BANK LOANS N.E.C.
OTHER LOANS
FINANCE co. PAPER
FHLB LOANS

254.4
77.0
120. 6
25.3
7.l
8.1
.9
5.l
3.6
2.3
1.3

282 .o
85.9
132.4
29. 5
7 .2
13.2
1.2
4.4
3.5
2. 2
1. 3

309.9
94.0
144.6
35.9
8. 3
15 .8
1 .3
5.4
5.0
2 .9
2.1

336.9
10 3.5
155 .3
39.8
9.9
17.0
1 .2
6.0
5.7
3. 7
2.0

374.7
114. 8
170.6
lt7 .6
10.4
22.9
1.6
6.5
6.3
3.6
2.7

401.3
127.9
1 79. 2
49.8
10.7
21.3
2. 0
7 .5
8. 3
4.8
3.5

445.5
143 .1
195.5
59.7
12. 2
25.2
2.5
9.2
10.6
5.8
4.8

488 .5
159.0
213.1
66.0
14.3
27 .2
2 .2
9.8
12.6
7 .2
5.3

537. 0
172. 0
231.8
80. 0
16. 1
35. 2
2. 2
12.2
14. 3
8. 3
6.0

562. 7
179.0
243. 8
82 .5
16.9
34. 8
1. 3
10.9
18.6
11.7
6.9

620.6
195.9
268.5
91.5
17.9
44. 7
2.3
8.1
17.9
13.5
4.4

28
29
30

SECURITY CREDIT
TAXES PAYABLE
MISCELLANEOUS L JABIL ITIES

4.3
•7
26. 6

4.8
•8
2 8.6

4.9
.9
29.6

5.4
.9
32.l

6.3
•8
3't.5

7.2
.9
36.3

1.1
.9
38.6

7.9
.9
41.6

7. 9
1.1
44.2

e. 5
1.1
47.9

10 .6
1. 0
53.l

l
2
3
4
5
6
1

TOTAL FINANCIAL ASSETS
DEMANO DEP .AND CURR.
CREDIT Ml<T. INSTRUME"ITS
u.s. GOVT. SECUI !TIES
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
MISCELLANEOUS ASSETS

48.l
1. 5
44.2
3. 6
38.0
2. 0
.6
2.4

55. l
1.8
50.6
4. 2
42.9
2.7
•8
2.8

63. 5
l .6
59 .o
4.9
49.5
3.6
.9
3.0

71.5
1.7
66.2
5 .2
55.4
4. 7
1.0
3.5

82.l
2.l
75. 6
5.7
62.4
6.4
1.1
4.4

93,6
2.7
85.9
6.0
69.8
9.0
1.1
5.0

107.6
2.8
99. 2
7. 0
79. 1
11.9
1.2
5. 5

119.4
2. 8
110.2
7.6
87. 2
14.2
1.3
6. 3

129. 6
2.9
119.8
8.2
94.2
16. l
1 .4
6.9

133.9
2. 3
124. 4
8. 6
97.4
l 7. 0
1.4
7.2

143.5
2.0
133.5
10.2
103.3
18.5
1.4
8.0

152. 8
1.6
143.2
u. o
110. 3
20 .5
l. 5
e.o

l
2
3
4
5
6
7

TOTAL LIABILITIES
SAVIN GS SHARES
CREDIT MK T. INSTRUMENTS
MTG. LOANS IN PROCESS
!DRROWING FROM FHLB
BANK LOANS N.E.c.
TAXES PAYABLE
MISCELLANEOUS LIABILITIES

44. 8
41. 9
2.2
.9
1.3
.1

51 .3
48. 0
2. 6
1. 2
1. 3
.1

59 .l
54,6
3.7
1. 3
2.l
.3

66. 5
6 2.1
3,4
1.2
2.0
.2

76.4
70.9

1.6
2. 7
.2

87.l
80.2
5.6
2.0
3.5
.2

.9

1.0

1.1

l .2

120.9
110.4
8. 7
2. 2
6.0
.5
.1
1. 7

124. 8
114.0
e. 1
l .3
6.9
.5
.1
2.l

llt2 .5
131.6
8.1
2.4
5.3
.4
,1
2. 7

9
10
11
12
13

•7

111.5
101.9
7.8
2. 2
5 .3
•3
.1
1.6

134.0
124.5
1.0
2.3
4.4

,6

100.4
91.3
7.6
2.5
4.8
.2
.1
1.4

8

9
10
11
12
13
14
15
16
17

MEMO-

FHL8 LOANS L ESS DEP.

678.2
208.4
292.1
106.l
18.8
52.7
2.4
11.1
21. 2
16 .o
5.3

17
18
19
20
21
22
23
24
25
26
27

12. 6 28
1. l 29
57. 9 30

---------------------------------------------------------------------------------------------SAVINGS A ND LOAN ,ss□CIATIONS
---------------- ---------------------------------------------------

. . . . . .
4.4

·"

.1
2.4

8

l-4

15
16

l.5
1. 5
3.9 17
5.9
1.0
3. 0
.6
3.6
5 .o
•5
lt.l
2.3
-----------------------------------------------------------------------------------------------MUTUAL SAVINGS BANKS
-------------------------------------------------------------------------------------

12
13

TOT AL FINANCIAL ASSETS
DEMAND DEP. AND CURRENCY
TIME DEPOSITS
CREDIT MKT. IN STRUM EN TS
u.s. GOVT. SECURI TIES
STATE ♦ LOCAL GOVT. SEC.
CORPORATE BONDS
CORPORA TE STOCKS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
OTHER LOANS
M ISCELLANEOUS ASSETS

35.2
.8
.1
34.l
7.9
•7
3.2
•8
14.l
7.1
.1
.1
.3

37. 8
.8
.2
36. 5
7.6
•7
3. 8
•9
15.6
7.6
•2
•2
.3

38.9
.7
•1
37.8
7.3
•7
3.6
•8
16. 9
8.l
.2
.2
•3

40.6
•7
.1
39 ,4
6. 7
•7
3 .8
.8
18.4
8.6
•2
.2
•3

42 .8
.8
•2
41.5
6.6
•7
3.6
.9
20.0
9.1
•2
•3
.4

46.l
.8
.2
44. 7
6.7
.5
3.5
1.0
22,l
10.2
.3
.4
.5

49. 7
•8
.l
48.l
6. 5
.4
3.2
1. 2
24. 7
11.5
•3
.3
•7

54. 2
.8
.2
52. 5
6.5
.4
3.l
l.3
27.4
13.2
.4
.4
.7

58 .2
.8
•2
56.4
6.2
•3
2. 9
1.4
30. l
14.6
.5
•3
.8

61.0
.8
•2
59. l
5.7
•3
3. 2
1. 5
31. 7
15. 7
.6
•5
l .o

66.4
.e
.2
64. 3
5.4
•2
5. 3
1. 7
33.5
17 .o
•7
•5
l.1

1.9
35. 0
18.4
.8
.6
1. 4

14
15

SAYINGS DEPOSITS
MISCELLANEOUS L IABIL !TIES

31. 7

34. 0

35.0

36. 3

38. 3

41 .3

44.6

48 .e

52. 4

55. 0

60.l

61t.5 14

TOTAL FINANCIAL ASSETS
DEMAND DEP. AND CURR.
SVGS. + LOAN SHARES
CREDIT MKT. INSTRU"IFNTS
CONSUME� CREDIT
HOM E MORTGAG�S

3.4
•3
.4
2.7
2.4
•3

3.9
•3
.6
3.0
2. 7
•3

4.4
.3
.5
3.6
3. 3
.3

5.0
.3
.3
4.3
3.9
.4

5.6
.4
.5
4.7
4.3
.4

6.3
.4
.6
5. 3
4.9
.5

7.2
.4
•7
6.0
5.5
.5

8. 2
.5
.8
6.9
6.3
.5

9. 2
.5
.8
7.9
7. 3

11,2
•7
.8
9.6
9.0
•7

12. 3

.6

10.0
.6
•5
8.9
8.3
.6

.6
10.9
10. 2
.7

l
2
3
4
5
6

CREOIT UNION SHIII\ES

3.4

;3.9

lt.4

5 .o

5.6

6,3

7.2

e.2

9.2

10.0

ll.2

12. 3

7

1
2
3
4
5

6
7
8
9
10

11

1
2
3
4
5

6


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

71.2
.7
.3
68. 8
5. 2
.2
6.6

.,.

5

6

7
8
9
10
11
12
13

.e
1.4 15
•8
.6
1.1
1.0
1.1
•5
•7
1.3
.9
•4
-----------------------------------------------------------------------------------CREDIT UNIONS
---------------------------------------------------------------------------------------------.e

FEBRUARY, 1970
INSURANCE + PENSION FUNDS

INSURANCE + PENSION FUNDS
SEC TOR STATEMENTS OF FINANCIAL ASSETS AND L UB ILIT IES
18 ILL IONS OF DOLLARS I

62

62

-------------------------------------------------------------1949
1947
1950
1951
195 2
1948
1953
1946
1955
1945
1956
1954
---------------------------------------------------------------------------------LIFE INSURANCE COMPANIES
-------·--·------·-----------------------------------·--------·-------------·-------YEAR-ENO LEVE LS, 1945-56

YEAR-ENO LEV ELS, 1945-56

1
2
3

4
5

6
7
8
9
10
11
12
13

lit

15
16

"
5

6
7
8

TOTAL FINANCIAL ASSETS
DE HANO OEP. AND CURR.
CREDIT HKT. INSTRUMENTS
u. s. GOVT• SECURITIES
STATE AND LOCAL DBL IG.
CORPORATE BONDS
CORPORATE STOCK
HOME HOil TGAGES
OTHER HORTGAGES
OTHER LOANS
H ISCELLANEOUS ASSETS

...3.9
.8
42.2
20.6
.7
11.3
1.0
2. 3
4. 3
2.0
1.0

47. 5
.8
45.7
21.6
.6
13.l
1.2
2. 5
4.6
1.9
1.0

50.9.
1.0
48.8
20.0
.6
16.l
1.4
3 .5
5.2
1.9
1.1

54 .5
.9
52.4
16.8
.9
20.4
1.4
4.9
5 .9
2.1
1. 2

58.4
.9
56.1
15. 3
1. 1
22 .9
1. 7
6.1
6.8
2 .2
1.3

62.6
1.0
60.0
13.5
1.2
24.8
2.1
8.5
7.6
2.4
1.6

66. 7
1. 1
63.8
11.0
1. 2
27.5
2. 2
10.6
8. 7
2.6
1.8

71.4
1.1
68.4
10.3
1.1
30.6
2....
11.8
9.5
2. 7
1.9

76.6
1.2
73. 3
9.9
1.3
33.3
2.6
13.2
10.l
2.9
2. 1

82.1
1. 2
78.6
9.1
1.8
35.3
3.3
15.2
10. 8
3.1
2. 3

87.9
1.3
84.1
8.6
2. 0
37.0
3.6
17.7
11.8
3.4
2.5

93.2 1
1.3 2
89.l 3
7.6 4
2.2 5
39.2 6
3. 5 7
20.1 8
12.9 9
3.6 10
2.8 11

TOTAL L IABIL Ill ES
LIFE INSURANCE RESERVES
PENS ION FUND RESERVES
TAXES PAYABLE
MISCELLANEOUS LIABILITIES

41.6
36.0
2. 7

44. 9
38.6
3. 1

... 8.3
41.1
3.6

51.8
43.8
4. 2

55. 5
46.4
4.8

59.2
49.1
5.6
.1
4.5

63.2
51.6
6 .6
.1
....9

67.8
54.5
7. 7
.1
5.5

72.5
57.4
8. 8
.2
6.0

77.3
60.4
10.0
.2
6. 7

82.4
63.5
11.3
.2
7.3

87.4
66.6
12. 5
.3
8.0

12
13
14
15
16

2.e
.1
1. 8
.9
•7
•2

3. 2
.1
2....
1. 2
.9
.3

3. 8
.1
3.0
1....
1. 2
.4

4.4
.2
3.7
1.7
1.5
.5
•l
.5

5.0
.2
4.4
1.9
1.9
.6
.1
.4

6.7
.3
6.0
2.0
2.8
1.1
.1
.4

7 .8
.3
7.1
2. 1
3.5
1.4
.1
.4

9.6
•3
8.8
2.3
4. 5
1.8
.1
.5

11.6
.4
10.8
2.5
5.6
2....
.2
.5

12. 9
2. 6
6.9
3. 2
•2
•5

18.3
.4
11.2
2.9
7.9
6.1
•3
•7

21.0
.4
19.7
2.7
9.5
7.1

1
2
3
4
5
6
7
8

10.7
.2
10....
4.7
.2
4.5
.1
2. 7
2.5
.1
.3
.2

12.1 1
.2 2
11.1 3
5. 0 4
•2 5
4. 7 6
.1 7
3. l 8
3.0 9
.2 10
.4 11
• 2 12

TOTAL FINANCIAL ASSETS
DEMAND OEP . ANO CURR.
CREDIT HKT. INSTRUMENTS
u.s. GOVT. SEC UR !TIES
CORPORATE BONDS
CORPORATE STOCK
HOME MORTGAGES
HIS CELL ANEOUS A SSETS

7
8
9
10
11
12

TOTAL FINANCIAL ASSETS
OE HANO OEP. ANO CURRENCY
CREDIT HARK ET INSTRll"'ENTS
U.S.GOVT. SECURITIE S
SHORT-TERM MARKETABLE
OTHER DIRECT
AGENCY ISSUES
STATE ANO LOCAL OBL IG.
CORPORATE BONDS
CORPORATE STOCK
HORTGAGES
OTHER

13

RETI REMENT RESERVES

1
2
3
4
5
6

1
2
3
4
5
6

7
8
9
10
11
12

•

•

. . .

3. 8
4. 2
3.6
3.2
2 .9
-----------·---------------------------------------------------·
---------------------PRIVATE PENSION FUNDS
-----------------------------------------·--------

. .

·"

13.8

·"

.6
•8
.9
.9
-----·-----------------------------------------------·
--------------------------------------------STATE ANO LOCAL GOVT. RETI RE"'ENT Fll'IOS
--------------------------------------------------------------·--------------2. 7
.1
2. 5
1. 5
NA
NA

2.9
.1
2. 8
1. 7
NA
NA

3.3
.1
3.1
1.9
NA
NA

3. 7
.1
3 .6
2.1
NA
NA

4.3
.1
4.1
2 .3
NA

5 .o
.1
4. 7
2.5
NA
NA

5.7
.1
5. 5
2. 9
NA
NA

6. 7
.2
6.4
3.4
.1
3 .3

8. 0
.2
7.6
3.9
•2
3. 7

9. 5
•2
9.1
4.4
.2
4. 2

.8
.1

.9
.2

1.0
.2

1 .2
•3

1. 3

·"

1.5
.6

1.7
•7

.1

.1

.1

.1
.1

.1
.1

.1
.1

1.9
.9
.1
.1
.1

2. 1
1.4
.1
.2
.2

2.4
1.9
.1
•2
.2

.

•.1

. . . . . .
NA

.

•

.

3 .3
4. 3
2.9
3. 7
9. 5
6 .7
5. 0
8.0
10.7
5. 7
2. 7
12.t 13
---------------------------------------------------------------------------------OTHER INSURANCE COHPAN IES
-------------------------·-----------------------------------------------·------------------·-

TOTAL FINANCIAL ASSETS
OE HANO OEP. ANO CURR.
CR ED IT HKT. INSTRUMENTS
u.s. GOVT. SECUR !TIES
STATE ANO LOCAL 08LIG.
CORPORATE BONDS
CORPORATE STOCK
COHH ERCIAL HOR TGA GES
TRADE CREDIT

6.9
•7
5. 8
2. 7
.2
.5
2. 3
.1
.4

7. 7
.9
6.4
3.3
.2
.5
2. 3
.1
•5

8. 8
1.0
7. 2
3.9
•3
.6
2 .3
.1
.6

9.9
1.1
8.2
4.4
.5
•7
2.4
.1
•7

11.3
1.1
9.4
4.8
.8
•7
3. 0
.1
•7

12. 6
l.2
10.7
5.3
1.1
•7
3.4
.1
•7

13.8
1. 2
11.7
5. 5
1.4
.8
3.9
.1
.9

15.4
1.3
13. 1
5.8
1.9
1.0
"· 3
.1
.9

16.8
1.4
14. 4
6. 1
2.6
1.1
4. 5
.1
1.0

19.2
l .3
16.8
6. 2
3.4
1.1
5. 9
.1
1.1

21.0
1. 3
18 .5
6.1
4.2
1.2
6.9
.2
1.2

21.8
1.3
19. 2
5. 7
4.9
1. 2
7 .2
.2
l.3

TOTAL LIABILITIES
POLI CY PAYABLES
TAXES PAYABLE

3.6
3. 6

4.3
4.3

5. 2
5.l

6.0
5 .9
.1

6.7
6. 5
.2

7 .2
7. 0
.2

8.0
7.9
.1

9.1
8.9
.2

10. 1
9.7
.4

10.6
10.3
•2

11.2
11.0
.2

11.8 10
11.8 11
12


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

.

4
5
6
7
8
9

FEBRUARY, 1970
INSURANCE ♦ PENSION FUNDS

INS URANCE

♦

PE NSION FUN>S
63

SECTOR STATE,.ENTS OF FINANCIAL ASSETS ANO LIABILITIES
I BILLIONS OF DOLLARS I

63

YEAR-END LEVE LS, 1957-68
-----------------------------·-----------------------------------------------------------------------------------------1966
1967
1968
1964
1965
1963
1957
1958
1962
1960
1961
1959
---------------------------------------------------------------------LIFE I NSURANCE CO,.PANIES
----------------------------------------------------------------------------------------------

YEAR-ENO LEV ELS, 1957-68

98.3
1.3
94. 0
7.1
2.4
41.8
3.4
21.4
13.8
4.1
3.0

10'9. 3
l.'t
99.7
7. 3

10
11

TOTAL F INANC I Al ASSETS
DEMAND OEP. ANO CURR.
CR EDIT MKT. INSTRUMENTS
u.s. GOVT. SECUR ITIES
STATE ANO LOCAL OBLIG.
CORPORATE BONDS
CORPORATE STOCK
HOME MORTGAGES
OTHER MORTGAGES
OTHER LOANS
Ml SCELLANEOUS ASSETS

44.3
4.1
22.4
14. 7
4. 3
3. 3

3.2
46.5
4.6
23.6
15.6
4.7
3 .6

12
13
14
15
16

TOTAL LUBIL ITIES
LIFE INSURANCE RESERVES
PENSION FUND RESERVES
TAXES PAYABLE
MISC El LAN EOUS LIABILITIES

92.3
69. 3
14.1
.3
8.6

97. 5
72.3
15.6
.3
9. 3

TOTAL F INANC JAL ASSETS
DEMAND DEP. ANO CURR.
CREDIT "KT. INSTRUMENTS
u.s. GOVT• SECURITIES
CORPORATE BONDS
CORPORATE STOCK
HOME MORTGAGES
MISCELLANEOUS ASSETS

23.4
.5
22. 0
2.5
11.3
7. 5
.6
1.0

29.2
.5

10
11
12

TOTAL FINANCIAL ASSETS
DEMAND DEP. AND CURRENCY
CREDIT MARKET INSTR UMEN TS
U.S.GOVT. SECURITIES
SHORT-TERM MARKETAB LE
OTHER DIRECT
AGENCY ISSUES
STATE ANO LOCAL OBLIG.
CORPORATE BONDS
CORPORATE STOCK
MORTGAGES
OTHER

13. 8
•2
13.3
5.2
.3
"· 8
.1
3.5
3.8
•2
.5
.3

13

RETIREMENT RESER YES

1
2
3
4
5
6

1

8
9

1
2
3
4
5
6

1

8

1
2
3
4
5
6

1

8
9

1
2
3
4
5
6

1

8
9

10
11
12

2.1

5 .3

154. l
1. 5
146.9
5.1
3. 5
61. 1
9.1
29.6
30.'t
8. 0
5. 7

161.8
1.5
15'9. 3
4.8
3. 1
63. 5
8.8
30.2
3'9.lt
9.5
6.0

173.1
1.6
164.7
't.6
3.0
67.3
11.8
29. 8
37.8
10.5
6.9

182. 6
1. 7
173.5
4.5
3.0
1 1.1 6
13.2 1
29.0 8
'90.9 9
11.1 10
7.5 II

134.0
94.2
25 .3
.6
14.0

l'tl.9
98. 9
27.3
•5
15. 2

149.9
103. 5
29. 4
.6
16.4

159.0
108.2
32. I
.5
18.2

168.1
112.9
35 .o
.6
19. 7

55.4
.8
52.9
3.4
19.6
27. 7
2.2
1.1

63.9
.9
61.0
3.6
21.2
33.5

72.6
.9
69. 3
3.6
22. 7
39.7
3. 3
2.4

73.8
.9
70. 0
3.1
24. 6
38. 5
3. 8
3.0

86.5
1. 3
111.4
2. 5
25.5
49. 5
3.9
3.8

911• 3
1.6
92.6
2.9
26. 2
59.6
3.9
4. 0

26.9
.3
26.l
6.9
.4
6.1
•3
3.3
12.3
1.0
2.6
•5

29. 7
.3
28.8
7.4
.3
6.7
.4
2.9
14 .2
1. 3
3.1
.6

33.1
.3
12.1
7. 8
.3
6.9
.5
2. 6
16. 3
1.6
3. 7

37. l
.4
35.9
8.o
.4
7. 0

41.7
.5
40.4
8 .o
.5
6. 6
.8
2.4
22 .3
2.8
5.0
.8

46.0 1
.6 2
44. 5 3
8.0 4
.6 5
6.1 6
1. 3 1
2.3 8
24. 7 9
4.1 10
5.4 11
.9 12

115.9
1.3
110.6
6.5
3.6
48. 2
5.0
2" .9
16.9
5.5
3.9

122.8
1.4
111.2
6.1
3.9
50.7
6.3
25.6
18.6
5.9
4.3

129.2
1.5
123. 2
6.2
4.0
53.2
6.3
26.4
20.5
6.6
4.6

136.9
1. 5
130.5
5.9
3.9
56.0

103.1
75.6
17.6
.4
9.5

108.5
78.8
18.9

114.2
82.1
20.3
.4
11.5

120.3
85.8
21.6
.4
12 .4

126. 8
89.9
23.3
.4
13.2

3'4. l
.5
32.4
2. 8
14. 1
14 .5
1.0
1 .2

38. 2
.5
36.3

17 . 3
.2
16.7
5.6
.3
5.1
•1
4.3
5.5
.3
1.0
.3

110.1
1. 3
105.2
1.0

.4

1.1

27. 3
23.2
1.0

4.9

14'9.9
1.5
138.1
5.6
3. 8
58.3
7.9
28.5
26.6
1.lt

12
13

14
15
16

10.5
-----------------------------------------------------------------------------------------·
PR IVATE PENSION FUN>S
---------------------------------------------·
----------------------------------

21.1

2.6
12.8
11.6

.1

15 .3
.2
14. 7
5.1
•2
4. 8
•1
4.0
4.6
.3

.1

•3
15.3

15. 7
16.5
l.3
1.4

44.9
3.1
18.l
21.9
1.9
1.1

19.6
•2
18.9
5.9
.4
5.3
.2
4.4
6.7
.4
1.5
.4

22.0
•3
21.3
6.1
.4
5.4
.3
4.3
8. 5
.6
1.9
.4

24.5
.3
23.7
6.5
.4

2.1

.1

2.1

l
2
3
4
5
6

1

5.1

.4
3.8
10.4
.8
2.2
.5

•1

.1

2. 5
l 8. q
2.1
4.5

.1

46.0 13
41.7
------------------------------------------------------------------------------------------------------------------------------------------

17.3

19.6

22.0

24. 5

26. 9

29.7

33. l

37. 1

GTHER INSURANCE COMPANIES

1. 6
9.1
•1
1. 8

28.2
1. 3
24.9
5 .6
8.1
1.7
9.4
.1
1.9

31.6
1.4
2A.2
5.6
9.1
1.7
11,8
.2
2 .o

32.6
1 .5
28.9
5.7
9.9
2.1
11.1
.1
2.2

35. 3
1.4
31.6
5. 9
10.6
2.0
l3.0
.1
2. 3

38.1
1.4
34.2
6.0
11.0
2.4
14.7
,1
2. 5

39.8
I. 3
35.8
6.0
11.3
3. 0
15. 3
.1
2.6

40.0
1 .3
35.7
5. 6
12.6
3.6
l3. 8
•1
2.9

14.9
14.8
•1

15 .9
15.7
.1

16.7
16.5
.1

17.4
17. 2
.1

18.4
18. 3
.1

19.6
19.6

21. 2
21. 1
.1

23. 0
22.9
.1

TOTAL FINANCI Al ASSETS
DEMAND DEP. ANO CURR.
CREDIT MKT. INSTRUMENTS
u. s. GOVT. SECUR !TIES
STATE AND LOCAL OBL IG.
CORPORATE BONDS
CORPORATE STOCK
COMMERCI Al MORTGAGES
TRADE CREDIT

22.1
l.3
19.4
5.6
5.6
1.4
6.7
.2
1.5

24. 8
1. 3
21.9
5. 5
6. 2
1.5
8.4
.2
1.6

27.1
1. 3
23.9
5.8

TOTAL LIABIL !TIES
POLICY PAYABl ES
TAXES PAYABLE

12.9
12.8
.1

13.8
13. 7
.2


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

47.3

.1

2. 0
1.0
---·-----·-------------8
------------·
--· --------------------·---------------------------·
STATE ANO LOCAL GOVT. RETIREMENT FUNDS
-----·----------------------------------------------------------------------

-------------------------13. 8

46.3

44.1
2.8
16.9
22. 9
1.6
1.5

1.2

45. 6
1. 3
41. 2
4.9
14.l
4.3

11.1

•2
3. 2

25. 2
25. 0
•1

48.4
1.4
43. 5
4.7
15. 1
5. 5
18.l
•2
3. 5

.

6

1
8

9

27. 5 10
27. 4 11
12

FEBRUARY, 1970
FINANCE N. E.C.+ R>REIGN

FINANCE N.E. C.+ FOREIGN
SECTOR STATEMENTS OF FINANCIAL ASSfTS ANO LIABILITIES
(BILLIONS OF DOLLARS I

64

-----------

YEAR-END LEVf LS, 19t,5-56
---------------------------------------------------------------------------------------19,,9
19,,B
1950
19,,7
1951
1952
1954
19,,5
1956
1946
1955
1953
----------------------------------------------------------------------------Fl NUCE C OMPANIES
------------------------------------------------------------------------------------

YEAll-END LEVEL_S, 19t,5-56

1

2
3

,,

5

6
7
II
9
10

l

2

,,

3

5

6
7
II
9
10
11

l
2

,,

3

5
6
7

5.5
.6
.2
2.,,
2.4

6.7
.7
.2
3 .2
2. 5

7. 7
.9
•3
4. 3
2 .2

9.3
l .O
•5
5. 3
2.5

9.8
1.1
.4
5.6
2.7

10. 8
1.2
.6
7. l
2.0

12.6
1.2
.6
8.6
2.1

13.0
1.2
.B
9.1
1.9

17. l
1.5
1.4
11.B
2.4

17. B
1. 5
1.3
12.7
2. 3

1.1
.4
.5
.2

l .B
.5
.B
•3
•l

2.8
l .O
l .3
.5
.1

3. 8
1.4
1.7
•7
.1

5.2
1.7
2.6
•7
.2

5.7
2.0
2.4
1.1
.2

2.3
3. l
1.4
.2

1.0

B. t,
3.7
3.0
1.6
•3

8. 9
4.0
3.2
1.5
•2

12. 8
5.4
5.5
l.7
.3

13.5
6. 3
5. 0
1.9

4.9
.5
1.9
1. 3
1.3

3. 3
•7
.9
1.1
.6

2.6
.6
.3
l .o
.6

3.0
.6
.B
1.1
.6

3 .6
.5
.1

3.7
.6
•3
1.4
1.4

4.2
•5
.7
l.4
1.5

4.6
•5
.6
1.6
1.9

5. 6
.6

1.4
1.0

4.0
.6
.6
l .2
l.5

.1

1. 7
2.7

5. 9
•5
.3
2.0
3. l

5. 3
•5
.2
l .4
3.1

3.9
3.9
3.2

2.3
2.3
1.5

1. 5
l .5
.B

2.0
2.0
l.3

.7

.B

•7

.6

2.5
2.5
l .8
.1
•7

2.9
2.9
l.B
•l
1.0

2.6
2.6
1.6
•2
.9

3. l
3.1
2.1
.2
.B

3. 5
3.4
2.4
.3
•B

4. 5
4. 5
2.9
.4
1.1

4.8
4.7
3.3
•5
1.0

4.2
4.2
2.6
.6 9
1.0 10
11

3. 3
.1
3.2
.1
•2
2.9

3. 5
.1
3.3
.1
.3
2.9

3.9
.1
3.B
.1
•3
3. 3

4.1
.2
4. 0
.1
.3
3. 5

6.1
.2
6. 0
•2
.4
5.4

7. B
.1
7.7
•3
.5
6.9
.1

9.0
.1
8 .9
•3
.7
7.9
.1

l
2
3
4
5
6
7

2. 2

2.4
.5
1.3
.1
•5

2. B
.6
1. 5
.2
.6

4
5

4.3
.6
.1
.9
2.7

.2
1. 5
2.6

.5
.2
.2
.1

TOTAL FINANCIAL A SSETS
DEMAND DEP. AND CURR.
u.s . GOVT. SECURITIES
OTHER SECURITIES
SECURITY CREDIT
TOTAL LIABILITIES
SECURITY CRED IT
FROK BANKS
FROM AG. OF FGN. BANKS
CUSTOMER CR. BALANCE S
TAXES PAYABLE

TOTAL FINANCIAL ASSETS
DEMAND DEP. A ND CURR.
HOKE MORTGAGES
CONSUMER CREDIT
OTHER LOANS no BUS. I
TOTAL L IAB IL ITIES
CORPORATE BON DS
BANK LOANS N.E.C.
OPEN-KAR KET PAPER
TAXES PAYABLE

,,5

6

DEPO SIT LIABILITIES

4.9
.6

,,

5

6
7
B
9
.3 10

---------------------------------------------------------------------------------------------BROKERS .eNO DEALERS
-------------- SECURITY---------------------------------------------------------------

.

l
2
3
4
5

.

--------------------------------------------------------------------OPEN-END I NVESTKENT COMPAN IES
-----------------------------------------·
------------------------------------------------------

. . .

TOTAL FINANCIAi. ASSETS
DEMAND DEP. AND CURR.
CR EDIT KKT. INSTR.
u. s. GOVT. SECURITIES
CORPORATE BONDS
CORPORATE STOCK
OP EN- KARKET PAPER

TOTAL FINANCIAi. ASSETS
DEMAND DEP. AND CURR.
u.s. GOVT. SECURITIES
OTHER LOANS
SECURITY CREDIT

l
2

3

64

1. 3
.1
1.2

1.3
.1
l.2

1.4
.1
l .3

l .5
.1
1.4

.1
1.0

.2
1.0

.1
1. 2

.2
1.2

3.1
.1
3. 0
.1
.2
2.7

1. 6
.3
l .3

1. 5
.3
1.2

l .5
.3
1.2

1.6
.3
1.3

1. 6
.3
1.2

1.7
.3
1.2

1.7
•3
1.2

1.9

1.3

-�

2.0
.4
l. 3

1.4

.1

.1

.2

•2

•3

.4

•l

-------------------------------------------------------------------------------AGENCIES OF FOREIGN BANKS
--------------------------------------------------------------------------------------_,.

1.7
1.5
1.6
l.'l
1.7
1.6
2.4
2. 0
2. 2
8 6
--------------------------------------------------------------------------·
-2.---------------------------------------------------------------------------------1.6

1.5

BANKS IN TERRITORIES ANO POSSESSI ONS

5
6
7

TOTAL FINANCIAL A SSETS
OE KAND DEP. AND CURRENCY
U.S.GOVT. SECURITIES
s .+ L.GOVT. SECURITIES
CORP. AND FOREIGN BONDS
KORTGAGES
MISCELLANEOUS A SSETS

II

OEPOSI T LIABIL !TIES

l
2

TOTAL FINANCIAL A SSETS
GOLD
u.s. DE KAND DEPOSITS
u. s. TIKE DEPOS ITS

l
2
3

,,

,,
3

. . . •. . . .

.9
.2
.6

.1

.9
.2
•5

.1

l. 0
.2
.3
.1

1.1
.2
•3
.1

.2

•l
•2

.1
.2

.1
.2

.l
.2

.1
•3

•2
.2

•2
.3

•2
•3

.2
.3

3.9
1.2
.2
2.5
.1
.1
.4

4. 2
1.6
.1
2. 3
.1
.1
.4

4.7
1.9
.2
2.5
.1
.1
.3

6.4
3.l
.2
2.9
.2
.1
.4

4. 3
2 .6
1.5

t,.6
2.8
1.6

4.9
2. 9
1. 6

5 .6
3.4
1.7

t,.5
2.5
1.6

t,.2
2. 5
1.5

26
27

1. 0
•2
•3
.1

2'1. l
12.7

MISCELLANEOUS ASSETS
DIRECT INVESTMENT I N u.s.
DEP. AT AGN. OF FGN. BANI<
FGN. BRANCH CLA IKS ON
u.s. BANKS

25

.9
.2
.3
.1

28.2
12.5
1.3
2.0

12
13
lt,

2t,

.9
.2
•3

23.3
10.5
1.1
1. 7

•

23

.9
.2
.3

22.5
10. 2
1. 5
1.6

.1
.4

111

•8
.1
.3

22. B
11.3
l .2
l .6

4.8
1.9
•2
2.7
.1
.1
.4

19
20
21
22

.B
.1
.3

25.5
12.9
1. 4
1.6

5. 8
2.6
•5
2.7

17

.8

27.0
13.2
1.4
1.6

CREDIT MARKET INSTRUMENTS
u.s. GOVT. SECURITIES
CORPORATE BONDS
CORPORATE STOCK
OTHER LOANS
SECURITY CRED IT
TRADE CREDIT

16

.

.2
.4

4
5
6
7

.9
.8
.8
.9
.B
.B
.9
.9
.9
.9
1.0 B
1.0
----------------------------------------------------------------------------·
----REST OF THE WORLD
------------------------------------------------------------------------------------

5
6
7
B
9
10
11

15

. .

.B
.2
.4

2. l

31. l
12.6
1.0
2.3

33.8
14.2
•8
2.8

38.0
15. l
.9
3. 4

41.3
15.9
.8
3.2

44. l
16.0
I .O
3. l

6.9
3.0
.2
3.5
•3
.1
.4

0. 3
4.1
•2
3. 7
•3
.1
.4

0. 9
4. 5
•3
3.7
.4
.1
.4

10. 8
4. B
•2
5. 3
.6
.1
•3

13.0
5 .8
.3
6.6
•3
.l
.4

14.4 5
6. 7 6
.3 7
7.0 8
•5 9
.1 10
.5 11

6.1
3 .7
1.7

6. 5
3.9
1.9

6. 8
4. 3
2. 0

7.4
4.6
2. 2

8 .o
5. l
2.4

8.9 12
5 .5 13
2.B 14

.8

4

.4

.2

.3

.3

.4

.6

•7

•7

.6

.5

.6

.6 15

TOTAL LI ABILI Tl ES
13.B
OFFICIAL u.s. FOREIGN EXCHANGE
AND NET IKF POSITION
CREDIT KAR KET INSTRUMENTS
5.1
BONDS
2.9
BANK LOANS N.E.C.
•5
OTHER LOANS
1.6
SE CUR I TY DEBT
TRADE DEBT
.4

16.3

23.4

26.0

27.9

27.6

30.7

32.8

35. 3

37. l

39. l

4't.O 16

-.2
B.O
2. 9

.9
12. 5
2.9
1.0
8. 5

1.3
13.6
2.9
1.1
9.6

1. 5
14.2
3. 2
.9
10. l

1.4
12.7
1. 7
•7
10.3

1.4
14.6
3.4
.8
10.5

1. 5
l�.9
3.2
•8
10.9

1.4
16.0
3.1
•7
12. 2

.4

.4

.4

•5

.5

.

1.2
16. 4
3. 3
1.0
12.1

•5

•5

1.0
16 .5
3. 0
1.4
12. l
.1
.6

l. 6
17.3
3.3
1. 8
12. 3
.1
•7

MISCELLANEOUS LIABILITIES
u. s. CAPITAL SUBSCRIPTION
TO IBRD, IDA, ETC•
u.s. D I RECT INVEST. ABROAD
FGN • CURRENCY HELO BY u. s


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

. -�. . . . .
.8

17
18
19
20
21
22
23

•

4.4

8.3

8.2

9.5

10.6

11.B

13. 0

14.2

15.9

l 7.4

19. 0

20.9

24. 3 24

.6
1.2
.5

.6
7.2

.6

.6
9.6

.6
10.7

.6
11.B
.6

.6
13. l
.5

.6
14. 8
•5

.6

•6

.6
19.3
1.0

• 7 25
22. 2 26
1. 5 27

•3

_,,

B.t,
.5

_,,

·"

16.3
•5

.1

17 .6
•7

FEBRUARY, 1970
FINANCE N.E.C.+ R>REIGN

FI NANCE N. E.C.+ FOREIGN
SEC TOR STATEMENTS OF FINANCIAL ASSETS ANO LI ABILITIES
(BILLIONS OF DO LLARS I

65

65

----------------------------------------------------------------------------------------------------------1961
1962
1963
l '158
1959
1957
1960
1964
1966
1967
1968
1965
-----------------------------------------------------------------------------FINANCE COMP�! ES
---------- - -----------------------------------------------------------------------

YEAR-END LEVELS, 1957-68

4
5
6
7
II

9
10

TOTAL FINANC IAl ASSETS
DEMAND DEP. AND CURR.
HOME HORTGAGES
CONSUMER CR EDIT
OTHER LOANS (TO BUS. I

18.9
1.6
.9
13. 2
3.2

18.2
1. 7
1.4
12. 3
2. 8

21.l
2.0
1.6
14.0
3.4

24.l
2.1
1.6
15 .4
4.9

25.l
2.3
2.2
15.5
5.0

27.6
2.5
2. 7
17. 3
5.l

31. 7
2.3
3.5
19.6
6.4

35.6
2. 3
3.9
21.6
7.8

41.0
2. 5
4. 5
24 .3
9. 7

43.6
2. 7
3.9
26.1
10.9

44.5
2.9
4.3
26. 7
10.6

49.9 1
3.1 2
4.9 3
29.1 4
12. 8 5

TOTAL l lABIL !TIES
CORPORATE BONDS
BANK LOANS N.E.C.
OPEN-MARKET PAPER
TAXES PAYABLE

14. 7
7. l
5.0
2. 3
•3

13.9
1. 2
4. 3
2.2
•2

16 .7
8. 3
5.2
2.9
.3

19.6
9.9
5. 7
3. 7
.3

20.6
10 .4
6.3
3.6
•3

23.2
10. 7
7.4
4.8
.3

21.2
12. 2
9.0
5.8
.3

31. l
14.3
9.5
1.2
.2

36.4
16. l
11.7
8. 3
.3

39.l
16.9
10. 3
11.7
•2

40.0
17.9
8.4
13.5
.2

45 .6 6
18. 8 7
10.6 II
16 .o 9
.2 10

5. 5

6. l
.6
.6
l. l
3. 8

6.2
.6

6.7
.6
1.0
1.4
3.6

7 .7
•7
1.3
1.0
4.7

8.6
.6
2. 0
1.4
4.6

9.2

.4
1. 7
2. 8

.7
l.6
6.1

9.4
.8
1.4
l.6
5.6

9.5
.9
1.1
1.5
6.1

10. 2
1.0
1. 7
1. 6
5.9

12.6
1.2
1.0
1. 7
8.1

14.9
1.6
1 .8
.8
10. 8

4. 3
4.3
2.6
•7
l. 0

4.9
4. 8
2. 8
•7
l. 3

4.9
4.9
3.0
•8
1.1
.1

5.4
5 .4
3.3
•8
1.2

6.4
6. 3
4.1
.9
1. 3
.1

7. 2
1.2
5. 2
.7
I .3

7.8
7.7
5. 3
1.1
1.3
•1

7.9
7.9
5.5
1.1
1.3
•1

8. 0
7.9
5. 3
.8
1. 8
•1

8.6
8. 5
5.8
.9
1. 8
.1

10 .7
10. 6
6. 7
.9
3.0
•1

12.8 6
12.6 1
7.7 8
.9 9
4.1 10
.2 11

8. 1
.l
8.6
•3
.8
7.4
.1

13.2
.2
13.0
.4
.9
11.7

15. 8

17.0
.3
16.8
.6
1.2
14. 8
.l

22.9
•3
22. 5
•7
1.6
20.3

21. 3
.3
20.9
•7
1.6
18.3
•3

25. 2
.4
24.8

21.2
.4
26 .7
.8
2. l
23. 7
.1

35.2
.5
34. 7
.8
2.6
30. 9
.5

34. 8
.5
34. 3
1. 4
2.9
28.9
1.0

44. 7
•7
44.0
.9
3.0
39 .2
1.0

52. 7
.8
51.9
1.1
3.4
46.1
l .2

1
2
3
4
5
6
7

2. 9
.6
1.4
.3
•7

3.1
.6
1.5
•3
•7

3.2
.6
1. 5
.3

3 .6
•7
1.7
•3
.8

3.8
.8
l.e
•3
.9

3. 6
•7
l .8
.3

3.6

4 .2
.8
1. 9
.4
1.1

3. 7
.7
1. 8
.3
.8

3. 8
•8
1.9
•3
.9

4. 3
.9
2.5
.2
.9

4.5
.9
2.6
.2·
.9

1
2
3
4
5

1
2
3
4
5

TOTAL FINANC I Al ASSETS
DEMAND DEi>. ANO CURR.
u. s. aJVT. SECURITIES
OTHER SECURITIES
SECURITY CR EDIT

6
7

TOTAL LIAB ILITIES
SECURITY CREDIT
FROM BANKS
FROM AG. OF FGN. BANKS
CUSTOMER CR. BA LA NCES
TAXES PAYABl E

II

9
10
11

YEAR-END LEVELS, 19 57-68

l
2
3
4
5
6
7

TOTAL FINANCIAL ASSETS
DEMAND DEP. ANO CURR.
CR EDIT HKT. INSTR.
u. s. GO VT. SECURITIES
CORPORATE BONDS
CORPORATE STOCK
OPEN-MARKET PAPER

l
2
3
4
5

TOT Al FINANCIAL ASSETS
DEMAND OEP. AND CURR.
u.s. GOVT. SECURITIES
OTHER L0.6.'l S
SECURITY CREDIT

6

OEPO SIT LIAB ILITIES

l
2
3
4
5
6
7

TOTAL FINANCIAL ASSETS
DEMAND DEP. AND CURRENC Y
U.S. GOVT. S ECUR ITIES
s . + L.GOVT. SECURITIES
CORP. AND FOREIGN BONDS
MORTGAGES
MISCELLANEOUS ASSETS

8

DEPOSIT LIABILITIES

4

TOTAL F INANCI Al ASSl'TS
GOLD
u. s. DEMAND DEPOSITS
u.s. TIME DEPOSITS

-----------------------------------------------·------------------------------------·--------SECURITY BROKERS AND DEALERS
----------------------------------------------------------------------------------------------·
.5

25
26
27

.1

2.9

3.1

1. 3
•2
•3
.l

1.4
•2
•3
.l

.7
.l
.1

•7
.1
.1

•8
.l
.1

1.0
•1
.1

.4

•3
•5

.1
.4

.1
.4

.l
.4

.5

•
.2

.1

1.8
22. l
.2

3.2

3.6

3.8

3.6

.1

l. 5
.4
l.1

3.6
4.5 6
4.2
3. 7
3. 8
4.3
-----------------------------------------------------------------------------------------

. •. . . . .
.z

l
2
3
4
5

.

l.1
.1
.2
•1

1. 3
.2
.1
•1

1.5
•1
.1
.1

1. 7
•2
.2
.l

.2
.5

.3

.4
.8

.4
.8

.

.1

.

2.0
.2
.2
•1

•
.5
.9

2.1
.3
•2
.1

•
.5

1.0

l
2
3

4
5
6
7

----------------------------------------------------------8
REST OF THE WORLD
------------------------------------------------------------------------------------------------

MISCELLANEOUS ASSETS
DIRECT INV ESTMENT IN u.s.
DEP. AT AGN. OF FGN. BANK
FGN. BRANCH CLAIMS DN
u.s. BANKS

24

.e

----------------------------------------BANKS IN TERRITOR IES AND POSSESSIONS
-------------------------------------------

12
13
14

17
18
19
20
21
22
23

.z

15 .6
.6
1.1
13.9
.l

-------------------------------------------------------------------------AGENCIES OF FOREIGN BANKS
--------------------------------------------------------------------------

CR EDIT MARKET INST RUMENTS
u.s. GOVT. SfCURITIES
CORPORATE BONDS
CORPORATE STOCK
OTHER LOANS
SECURITY CR ED IT
TRADE CREDIT

16

l.4
3.8

.1

-------------------------------------------------------------------------------------OPEN-END INVESTMENT COMPANIES
-------------------------------------------------------------------------------

5
6
7
8
9
10
11

15

.4

1. 2

1. 3

.6

•7

.8

.9

1.1

1. 3

1. 3

1. 6

1.9

2 .1

44.0
15.9
1.2
3.l

50.6
18.9
l.2
4. 0

56.5
20. 7
1. 2
3.1

61.l
22. 7
l. 3
3 .5

67.7
24.2
2.l
3.8

69. 3
25.4
2.2
4. 3

75.1
26.7
2.4
5.3

81.2
27. 5
2.9
6.7

84.9
29.4
3.0
7.3

85.4
30.0
2.2
8.2

93.9
29. 5
2.7
9.6

102.0
29.8
2.5
9.5

14.l
6.9
.4
6.l
•7
.l
.6

16. 3
7. 0
.5
8. 3
.6
.1
•5

20.3
10 .0
.5
9.4
.5
.l
•7

21.5
10.6
.6
9.3
1.0
.1
.6

24.5
11.0
.6
11.8
1.0
.1
.8

24.4
12.3

10.3
l .O
.l
.8

27 .2
12.9
•7
12.5
1.1
•1
.8

29.4
13.4
.9
13. 8
1. 3
.1
.8

30.2
13. 2
•7
14.6
1.6
.2
1.0

26.6
10. 8
1. 3
12.6
1.9
.2
1.4

31.4
12.9
.9
15.5
2.l
.3
1. 8

35. 5 5
12 .4 6
.9 7
19.5 II
2. 7 9
.6 10
2. 7 11

9.0
5. 7
2.9

9.6
6. l
3.1

10.4
6.6
3.2

11.4
6.9
3.6

12.2
7.4
3.8

12.1
7.6
3.6

12.6
7.9
3.6

13. 7
8.4
4.2

13. 9
8. 8
3. 7

16.9
9.1
3. 8

18.5
9.9
4.3

21.4 12
10.8 13
4.5 14

.1

1
2
3
4

.3

.3

.5

.9

1.0

.9

1.0

1.l

1.4

4.0

4.2

6.0 15

TOTAL LIABILITIES
49.5
OFFICIAL u.s. FOREIGN EXCHANGE
ANO NET IMF POSITION
2.0
CREDIT MARKET INSTRUMENTS
18. 7
BONDS
3. 7
BANK LOANS N.E.c.
2.l
OTHER LOANS
12.8
SECURI TY DEBT
.1
TRADE DEBT
.8

53. 7

57.1

63 .2

68.4

73.8

80.6

90.8

98. 3

104.1

113.4

122.4 16

2.0
20. 5
4. 5
2.6
13 .4
.1
.8

2.0
21.1
4.9
2.9
13.4
.1
.9

1.6
23. l
5 .6
3.0
14.5
.1
1. 7

1.8
25.4
6.2
3.7
15.5

1 .2
27.9
1.2
4.1
16.7

1.9

2.7

1.2
30.7
8.2
4.4
18 .2
•1
2. 7

1.2
36.3
9.2
6.9
20.2
•1
3.7

1.6
39.2
10.2
7.5
21. 5
.1
3.2

1.6
40.2
10. 5
7.3
22.3
•1
3.8

2.8
43.l
10. 8
1.1
25.3
.3
4.4

4.8
45.8
11.7
6. 11
27. 3
.5
5.2

28.0

30. 3

33.0

36.8

39.2

42.0

45.8

49.5

54.2

58.4

62.8

66.2 24

•7
25.2
2.1

.1

.1

.8
32.7
3.2

1.0
34. 7
3.5

1.1
37.2
3.6

1.2
40.7
3.9

1.2
44.4
3.9

t.3
49.Z
3. 7

1.3
53.9
3.2

t.4
58.3

t.5 25
61.4 26
3.3 27

Ml SCEL LANEOUS l lABlllTIES
u.s. CAPITAL SUBSCRIPTION
TO IBRD, IDA, ETC.
u.s. DIRECT INVEST .ABROAD
FGN. Ci,lRENCY HELO 8 Y u.s


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

27.3
2.4

29.7
2.6

.1

.1

3.2

17

111
19
20
21

22
23

FEBRUARY, 1970
TOTAL CL AIMS

TOTAL C LAIMS
TOTAL FINANCIAL ASSETS AND LIABILITIES
I BILLIONS OF DOLLARS I

66

66

YEAR-E ND LEVELS, 1945-56
---------------------------------------------------------------------------------------------------------------------------------19 48
1949
1951
1947
1945
1946
1950
1952
1956
1955
1954
1953
---------------------------------------------------------------------------CREDIT MARKET CLAIMS OUTSTANDING
-------------------------------------------------------------------------------------

Y EAR-END LEVELS, 1945-56

CREDIT MARKET DEBT OWED BY-NONFINANCIAL SECTORS
FEDERAL GOVERNMENT
FOREIGN
PRIVATE DOM ESTIC
HOUSEHOLDS
FARM BUSINESS
NON FARM NON CORP. BUS.
CORPORATE NONFIN. BUS.
STATE + LOCAL GOVTS.

356. 3
251. 5
5. l
'l'I. 8
2'1.0
6.6
6. 3
41. 7
16.2

350. 5
228.0
e.o
l14.5
35.9
7 .o
7. 7
47. 7
16. 2

366. 2
220. 8
12 .5
133. 0
43.9
7.4
9.l
54.9
l 7. 7

H9.4
215.l
13.6
150.7
52. 5
8.l
9.7
60 .6
19.9

395 .5
217. 7
14.2
16 3.7
60.l
8. 5
10.4
62. 3
22.4

417 .B
216 .5
12.7
188. 6
73.0
9.5
12. 0
68. 3
25.8

441. 2
216. l
14.6
210.5
Bl.7
10.8
13.0
76. 7
28. 2

470.0
220.9
14.9
234.2
'13. 8
11.6
13.9
83. 5
31.3

499.4
228. 0
16.0
255. 4
106. 3
11.5
14.4
87 .8
35. 4

525. l
230.4
16.4
27B. 3
117.4
l 2.3
15. 3
92. 2
41.l

561.0
22'1.6
16.5
314.8
137.1
13.7
17.0
100.8
46.3

588. 3
223.8
17.3
347. 2
l53. 2
14.6
17.8
111.4
50.l

l
2
3
4
5
6
7
8
9

3.0
.9
.4
•5
l. 3

4. l
l. 2
•5
1.1
1. 3

5. l
1. 3
•7
l.7
l.4

6 .7
l.6
.8
2.8
l .5

9 .o
l.4
.e
3. 7
3. l

11.5
1. 8
1 .2
5.l
3.3

12.4
2.1
l.4
5.5
3.5

14.2
2.1
1. 5
6.7
3.9

16.l
2.1
l.6
e. 3
4. l

18. 6
2. l
l.8
e. 6
6. l

25. 9
3.l
2.5
12. 5
7. 8

28.3
3. 8
2.2
13 .2
9.0

10
11
12
l3
14
15

16 T OTAL CREDIT MARK ET DEBT
359. 3
PLUS--CORPORATE STOCK HOLDINGS
AT MARKET VALUE
ll 7. 7
17
EQUAL S--TD TAL KJLO INGS OF CREDIT MKT.
CLAIMS AS ASSETS
18
477.0

354.6

371.4

386. l

404.5

429. 2

453.5

484.2

515. 5

543. 6

586.9

616.6 16

4

5
6
7
8
9
10
11
12
13
14
15

FINANCIAL SECTORS
S PONSORED CR. AGENCIES
SAVINGS AND LOAN AS SNS.
FINANCE COMPANIES
INVESTMENT COMPAN !ES
C0'4MERCIAL BANKS

19
20
21
22
23

HOLDINGS BY PRIVATE DOMESTIC
NONF I NANCIAL SECTORS
HOUSEHOL OS
NONFARM NONCORP. BUSINESS
NONF IN ANCIAL CORPORA TE BUS.
STATE ♦ LOCAL GOVTS.

24

u .s.

236. 5
204. 7
l .5
23.l
7. l

GOVERNMENT

25 FI NANCIAL INSTITUTIONS
26 SPONSORED CREDIT AG ENCIES
27 FEDERAL RESERVE SYSTEM
28 COMMER Cl AL BANKS
29
30
31
32

NONBANK FINANCIAL INST.
MUTUAL SVGS. BANKS
SVGS. + LOAN ASSOC IATIDNS
CREDIT UN IONS

33
34
35
36

LIFE INSURANCE COMPANIE S

37
38
39
40
41

FINANCE COMPANIES
OPEN-END INVESTMENT COS.
SECUR ITV BROKERS + DEALERS
AGENCi ES OF FGN. BANKS
BANKS IN U.S. POSSESIONS

OTHER IN SURANCE COMPANIES
PVT• PENSION FUNDS
s. ♦ L.GOVT. RTR. FUNDS

42 REST OF THE WORLD

-

109.7

107 .6

106.5

116.9

142.7

166.5

182. l

174.9

251. 9

309.2

328.9 17

464.3

479.0

492.6

521.4

571. 9

620.1

666.3

690.4

7'15. 5

896.l

945.5 18

222. 3
196. l
l.9
17.9
6. 5

223. 8
197 .o
2.2
17.5
7. l

227 .o
197 .8
2.6
18.9
7 .7

241. 8
209. 3
2.e
21. 5
e.2

269.4
231. 7
3.3
25.3
9.0

296.0
255. 7
3.6
26.9
9.8

313 .2
271.1
4.0
27.2
11.0

312. 3
266.4
4. 2
29.4
12. 3

386.4
340.8
4.3
27. 5
13.9

452.3
400.4
4.4
32. 7
14. 7

4 74. 1
424.9
4. 7
29.0
15. 5

19
20
21

22

23

5.2

7.5

11.8

13. l

14.5

15 .2

16.5

18.0

19. 9

19.6

20.3

229. 5
2.0
24.3
116. 7

22 9. 6
2. l
23.5
110.4

239.5
2 .3
22.6
113.7

248 .3
2.7
23. 5
111.5

260. 5
2.6
19. 0
116.9

281. 0
3.l
20.B
123. 0

300.7
3.5
23.8
129.2

326. 8
3.6
24.7
130 .e

34'1. 3
3. 7
25. 9
142. 7

378. 7
4.0
25. l
152. 0

410.5
5.0
24.8
156.5

436. l
6.1
25.0
162.4

25
26
27
28

B6.4
16.2
1. 8
.1

93.6
9.2
•2

100.9
18.6
10.7
.3

110.6
19.6
ll.9
.4

122 .o
20.6
13.2
•5

134. l
2 l .6
15.3
•7

144. l
22. 5
17.4
•7

159.7
24.3
20.5
.9

177.0
26. l
24. 3
1. 3

197.6
28. l
28. 6
1. 5

224. l
30.2
34.3
1.9

242. 6
32. 2
39.2
2.2

29
30

42.2
5. 8
1.8
2.5

45.7
6.}.
2.4
2.e

48 .e
7 .2
3.0
3. l

52.4
8. 2
3.7
3.6

56.1
9.4
4.4
4.1

60.0
10.7
6.0
4.7

63.8
11.7
7. l
5.5

68.4
13.l
e. 8
6.4

73. 3
14.4
10.e
7.6

78.6
16. 8
12.'I
9. l

84.l
18.5
l 7.2
10.4

89. l
19 .2
19. 7
ll.7

35
36

3. 6
1.2
3.2
1.3
.6

4. 3
1. 2
2.0
1. 2
.6

5.0
l.3
1. 3
l .2
.5

5 .9
1.4
1.9
1. 3
.5

6 .8
3 .o
2. l
l. 2
.5

e.2
3.2
1.8
l.2
.5

e. 1
3.3
1.7
1.2
.5

9.7
3. 8
2.l
l.3
.5

11.4
4.0
2.2
l. 3
.5

11. 8
6.0
2.4
1.4
.5

15.6
7.7
2.3
l.4
.5

16.3
8.9
1.7
1.7
.6

37
38
39
40
41

11.1

20. 9 24

31

32

33
H

4. 7
4.2
6.4
5. 8
3.9
6.9
4.8
8.9
8.3
14.4 42
l O. 8
13 .o
-------------------------------------·
----------------TOTAL CLAIMS AND THEIR RELATION TO TOTAL FINANCIAL ASSETS
----------------------------------------------------------------------------------------------

l T OTAL C REDIT MARKET DEBT
(FROM PRECEDING TABLEI
OTHER DEBT FORMS-FOREIGN EXCHANGE
2
T REASURY CURRENCY
3

359. 3

354.6

371.4

386. l

401t.5

429.2

453.5

484.2

515.5

543. 6

586.9

616.6

1

2. 3

-. 2
2.4

.9
2.4

1. 3
2.4

1. 5
2.4

1.4
2.4

1.4
2.4

1.5
2.4

l. It
2.5

1. 2
2. 5

1.0
2.5

l .6
2.5

2
3

8

DEPOSITS AT FINANCIAL INSTS
BANK ING SYSTEM
DEMAND DEP. + CLRRENCY
TIME AND SVGS.DEPOSI TS
SAVINGS INSTITUTIONS

186.D
162.9
132.6
30.4
23. l

178.0
152.2
ll 8.1
34. 2
25. B

182 .8
154.8
119.2
35. 5
28 .o

184.9
154.9
118.7
36.2
30.0

187.8
155. 3
118.7
36.6
32. 5

195.7
160.8
123.9
36.9
34.9

207 • 7
169.7
131.0
38. 7
38.l

222. 3
179.2
137.4
41. 7
43 .2

231.5
182. 6
137.5
45. l
48.9

246.5
190.9
142.0
48.9
55.6

257.3
194.5
144.2
50.3
62.8

268.4
198. 3
lit6. 0
52. 3
70.l

4
5
6
7
8

9
10
ll

INSURANCE + PENSION RESERVE
u.s. GOVERNMENT
INSURANCE SECTOR

50.6
6.5
44.1

55.9
8.o
47.9

61.3
9 .5
51. 8

66.6
10.5
56. l

12.2
ll.6
60.6

79.l
12.7
66.3

85.3
13.6
71. 7

93. l
14.6
78.5

101.0
15. 2
85.8

109.0
15. 3
93.6

ll9.6
15.8
103.8

129.3 9
17.0 10
112. 3 11

I2
13
14
15

SECURITV CREDIT
PROFIT TAXES PAYABLE
TRADE DEBT
MISCEL LANEOUS

8. 8
11.3
22.6
38.0

4.5
9.3
23.6
40.8

3.4
11.6
27.2
44.7

3.6
12.6
29.5
48.0

4.4
10. 5
28.5
51.7

5.4
18.l
38.1
56.1

5.0
23 .o
43.1
60.0

5. 7
20. l
45.9
66.6

6.5
21.2
46.4
72.6

8.6
17.6
49. 8
78.3

9.6
21.4
59.4
85.5

9.0
19.6
64.9
95.2

18.6
15. 9
1.9
.6
.2
697.4

16. l
2.0
.6

18.8

20.7
17.9
2.2
•5

23.0
20.5
2.0
.5

19. l
16.6
2.0
.5

24.0
20.1
2. 7
1. 2

22.2
18.9
2. 5
.8

1022.2

1079.3

23.lt
19.0
2. 7
l.6
•1
1166.7

24.0
19.1
3.3
1. 7

905.4

23.8
20.0
2.8
1.0
•1
965.6

23.6
20.2
2.5
.9

687.7

21.3
17.7
2.2
1.4
•1
846.8

16
17
18
19
20
1231.1 21

4
5
6
7

. .

.

12
13

14
15

16
17
18
19
20
21

I NTER8ANK CLAIMS
MEMBER BK. RESERVES
VAULT CASH
FEDERAL RESERVE FLOAT
MEMBER BK. BORROWING
TOTAL DEBT ABOVE

726.3

757.9

782.5

22
23

ADD--F IN ANC I.IL ASSETS NOT INCLLDEO IN BORROWING
CORPORATE SlOCK S
117. 7
109. 7
107.6
GOLD
33.3
33.7
34.2

106.5
34.6

116.9
35.0

142. 7
35.4

166.5
35.6

182. l
35. 8

174.9
36.3

251. 'l
36.9

309.2
37.6

328.9 22
38.1 23

24
25
26

DE DUCT--flOATS NOT INCLUDED IN ASSETS
.8
DEMAND DEPOSI TS-U.S.GOVT.
OTHER
4.7
TRADE CREDIT
.3

1.4
5.2
-1.8

-.1
6.0
-4.5

-.l
5.7
-4. 8

6.1
-5.l

-.2
6.7
-7.8

-.2

-7.5

1.0

-.8
8. 1
-10.1

- .7
8.9
-8. 8

9.1
-10. 3

-.4
9.9
-12.0

-.1 24
10.2 25
- 14. 3 26

27
28

DEDUCT--LIA81LITIES NOT ALLOCATED AS ASSE TS
TREASURY CURRENCY
-1.9
-2.0
Ml SCEl.LANEOUS
ll.2
llt.2

-2.0
16.l

-2.0
16.7

-2.1
18.0

-2.1
19.2

-2.2
19.8

-2.2
23.3

-2.3
25.9

-2.3
27. 7

-2.3
30.9

-2.4 27
34.2 28

852. 5

883.5

917.5

1009.0

1090. 6

1164.6

1210.2

1344.0

1487.4

1570.6 29

29

TOTALS ALLOCATED TO SECTORS
AS ASSETS


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

833.2

813.9

•

•

.

.

•

.

•

FEBRUARY, 1970
TOTAL CLAll'IS

TOTAL CLAIMS
TOTAL FINANCIAL ASSETS AN O LIABILITIES
IBI LLIONS OF DOLLARS!

67
YEAR-ENO L EV ELS, 1957-68
1957

YEAR-END LEVELS, 19 57-68
--------------------------------------------------------------1966
1967
1968
1962
1961
1960
1963
1965
1964
----------------------------------------------------------------------CREDIT l'IARKET C LAIMS ClJTSTANDING
----·---------------------------------------------------------------1958

1959

616.5
221.6
18.7
376.2
166. l
15.6
18.7
121.1
54. 7

655 .4
230.9
20. 5
403.9
177.2
17.0
20.3
129. l
60.4

701t.4
238.0
21.1
445. 3
198.6
18.9
22.6
138.6
66.6

30.2
4.9
2.2
14.4
8.7

34.5
5.0
2.6
13.7
13.2

43.2
7.3

16 TOTAL CREDIT MARKET DEBT
646.7
PLUS--CORPORATE STOCK HOLDINGS
AT l'IARKET VALUE
290.3
EQUALS--TOTAL HOLDINGS OF CREDIT MKT •
18
CLAll'IS AS ASSETS
937.0

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15

CREDIT l'IARKET DEBT OWED BY-NONFINANCIAL SECTORS
FEOERAL GOVERNl'IENT
FOREIGN
PRIVATE OOl'IESTIC
HOUSEHOLDS
FARM BUSINESS
NONFARl'I NONCORP. BUS.
CORPORATE NONFIN. BUS.
STATE ♦ LOCAL GOVTS.
FINANCIAL SECTORS
SPONSORED CR. AGENCIES
SAVINGS ANO LOAN ASSNS.
FINANCE COl'IPAN IES
INVESTMENT COl'IPANIES
COMMERCIAL BANKS

17

19
20
21
22
23

HOLDINGS BY PRIVATE DOMESTIC
NONFINANCIAL SECTORS
HOUSEHOLDS
NONFARl'I NONCORP • BUSI NESS
NONFINANCIAL CORPORATE BUS.
STATE + LOCAL GOVTS.

442.1
392.0
4.9
29.1
16.l

Zit U.S. GOVERNMENT
25 FINANCIAL INSTITUTIONS
26 SPONSORED CREDIT AGENCIES
27 FEDERAL RESERVE SYSTEl'I
28 COl'll'IERC IAL BANKS

67

739. 8

235 .9
23.1
480.9
216.3
20.0
24.2
148.3
72.1

784.0
243, l
25.4
515.5
231.6
21.6
26.6
158.2
77.5

838.0
250.2
27.9
559.9
252.lt
23.9
30.0
170.3
83.4

895 .8
254, l
30.7
610.9
277.2
26.lt
34.lt
183.3
89. 5

961. 6
260 .6
36.3
661t.7
305. l
29.0
39.8
195,4
95. 5

1032.l
262. 3
39.2
730.7
333.8
32. 3
45.6
215.9
103.1

1098. 0
265. 8
40.2
792. 0
356. 2
35.8
'H.l
239. 5
109. 5

1177. l
278.9
43.l
855 .1
375.8
39.2
56.l
266.6
117.4

1274. 9
292 .2
lt5. 8
936.9
407. 5
42. 7
61. 2
297.8
127. 7

3.7

56.2
8.6
4.4
20.3
22.9

59.9
10.1
5.6
22.9
21.3

71.4
11.5
7.6
26.9
25.2
.2

78.6
11.9

111.9
18.4

31.0
27.2
.8

95.8
14. 2
8. 7
36. 1
35. 2
1. 6

103. 2
19.0

16.4
15.8

lt7.7
7.9
3.4
19 .3
11.0

38. 9
31t.8
1. 7

39. 8
44.7
2.0

130. 2
21. 9
8. l
45.3
52. 7
2 .2

689.9

747.6

787.5

M0.2

897.9

967.2

1040.3

1127.9

1201.2

1289.0

404.7

438.2

434.0

551.l

484.4

571.8

656.9

742.8

665.9

844.9

983.2 17

1094.6

1185.7

1221.5

1391.3

1382.3

1539.0

1697.2

1870.7

1867.l

2133.9

2388.3 18

550. 9
499.6
4.9
30. 0
16. 5

598.8
538.0
5. l
37.9
17.7

594 .8
536.5
5. 3
34.0
18.9

704,2
61tlt.4
5.5
34.4
19.8

644.6
581.9
5.9
35.9
20.9

729.lt
662.6
6.3
38.5
22.1

812. 3
742.6

898.3
825.1
7.1
40.6
25.4

846.5
766.3
7.6
43. 7
28. 8

1006. 7
925.9
8.o
42.6
30,l

1151. 8 19
1061. 4 20
8 .8 21
50.9 22
30. 8 23

7 .8

6.6

40.l
22.9

8. 7

1.0

10
11
12
l3
14
15

1405.1 16

21.6

23.1

24.9

25.9

30.0

31.4

34. 1

36. 9

41.2

45 .8

459.2
7.4
24.3
167.7

501t.3

51tl. 7

26.4
182. 5

26. 7
188.0

579.3
11.1
27 .5
196.7

635.2
12.1
28.9
211.4

683.3
13.7
30.9
229.9

751.0
15. 3
33.8
248.6

821.4
u,.o
37.2
270.5

905.4
18. 3
41.0
299.6

952. 7
23.4
44. 5
315.l

1050.0
23.3
49.3
350.6

1150. 0
26. 5
53. 0
388. 6

25
26
27
28

546. 6
56.4
119.8
7.9

569. 7
59.1
124. 4
8.9

626 .8
61t.3
133.5
9.6

681.9
68 .8
143. 2
10. 9

29
30
31
32

7.7

9.9

51.0 24

29
30
31
32

NONBANK FINANCIAL INST.
l'IUTUAL SVGS. BANKS
SVGS. + LOAN ASSOCIATIONS
CREDIT UNIONS

259.8
34.1
44.2
2.7

287 .8
36. 5
50.6
3.0

317.l
37 .8
59.0
3,6

31tlt.O
39.4
66.2
lt.3

382.7
41.5
75 .6
4.7

lt08.7
44.7
85.9
5 .3

453 .3
48.1
6.0

497.6
52 .5
110.2
6.9

33
H
35
36

LIFE INSURANCE COl'IPANIES
OTHER INSURANCE COl'IPANIES
PVT. PENS ION FUNDS
S.+ L.GOVT. RTR. FUNDS

94. 0
19.4
22.0
13.3

99. 7
21. 9
21.1
14. 7

105.2
23.9
32.4
16 .7

110 .6
21t.9
36.3
18.9

117,2
28.2
44.l
21.3

123.2
28.9
44.9
23. 7

130.5
31.6
52.9
26.1

138.l
31t.2
61.0
28 .8

146.9
35. 8
69. 3
32.l

1 54. 3
35.7
70.0
35. 9

164.7
41.2
81.4
40.4

173.5
43. 5
92.6
44 .5

33
3"
35
36

37
38
39
ltO
41

FINANCE COl'IPANIES
OPEN-ENO INVESTMENT COS.
SE CURI TY BROKERS + DEA LERS
AGENCIES OF FGN. BANKS
BANKS IN U.S. POSSESIONS

17.3
8.6
2. l
1. 7

16.5
13.0
1. 7
1. 8

19. l
15 .6
1 .8
1.8
.2

22.0
16.8
2,4
2.0
.2

22.8
22.5
2.3
2.2

25. l
20.9
3.4
2.2
.4

29.4
21t.8
2.3
1.8
.5

33.3
26.7
3.0
2.3
.5

38. 5
H.7
2. 6
2. 2
.6

40. 9
31t. 3
3. 3
2. 2
•7

41.6
44.0

lt6. 8
51.9
2 .6
2. 8
.9

37
38
39
40
41

42 REST OF THE WORLD

,6

.7

.3

99.2

2. 7

2,6
.8

31.4
35. 5 42
26.6
30.2
29.lt
16.3
21.2
20.3
1".l
21.5
24.5
-------------------------------------------------------------------------------

TOTAL CLAIMS AND THEIR RELATION TO TOTAL FINANCIAL ASSETS

1 TOTAL CREDIT MARKET DEBT
IFROl'I PRECEDING TABLEI
OTHER DEBT FORl'IS-FOREIGN EXCHANGE
2
TREASURY CURR ENCY
3

,.

646.7

689.9

747.6

787.5

81t0,2

897,9

967.2

1040.3

1127.9

1201.2

1289.0

1405.l

2.0
2.6

2. 0
2.6

2.0
2.6

1.6
2.1

1.8
2.1

1.2
2.8

1.2
2.8

1,2
2.8

l.6
3.1

1.6
4.0

2. 8
4.6

4.8
5.1

l

5
6
7
8

DEPOSITS AT FINANCIAL INSTS
BANKING SYSTEM
DEMAND OEP. + CURRENCY
Tll'IE ANO SVGS.OEPOSITS
SAVINGS INSTITUTIONS

280.1
203. l
145.3
57.8
77.0

302.7
216. 9
151. 1
65.8
85.9

313.6
21 9.6
152.0
67.5
94.0

329.0
225 .5
152.2
73.3
103.5

355.3
2�.5
157.8
82.7
114.8

388.5
260.6
162.3
98.3
127.9

423.7
280.7
168.0
112.6
143. l

46 1.6
302.6
175.5
127. 2
159.0

502. 4
330.3
183. l
1"7. 2
172.0

524. 0
345.0
185.7
159.3
179.0

579.0
383.1
200.0
183. l
195.9

6 23. 1

9
10
11

INSURANCE ♦ PENSION RESERVE
U.S. GOVERNMENT
INSURANCE SECTOR

138.1
17.5
120.6

150.9
18.5
132.4

164.1
19.5
llt4.6

175.8
20.5
155. 3

192.2
21. 5
170.6

201.9
22.6
179.2

219,4
23.9
195.5

238.4
25.3
213.1

258.6
26. 7
231.8

271.9
28.1
243. 8

298.0
29.5
268.5

322.9 9
30.8 10
292. 1 11

12
13
1"
15

SECURITY CREDIT
PROFIT TAXES PAYABLE
TRADE DEBT
Ml SCELLANEOUS

8.1
17.6
67.0
103.6

10.4
15.0
72. 0
111.5

10.5
17.5
78.4
120.9

10.9
16.0
8 1.l
132.7

13.2
16.5
85.0
129.6

13.9
11.1
91.3
138.9

16.4
19.2
96.6
150.7

16.3
20.8
101.4
162.6

17.2
22. 5
111.0
178.5

17.6
22. 7
120.5
198.5

23.2
18.5
126.6
217.3

27.5
22. l
135.0
21t3.4

12
13
1"
15

23. 8
19.0
3.3
1 .4
.1
1290.2

23.1
1 8. 5
3.2
1.3

22.3
11.1
3.3
1.8

24. 7
17.5
lt.3
2.9

24.6
11.0
5,0
2.6

1778.7

1921.9

25.4
18. l
4.5
2.6
.2
2070.8

25. 6
18.4
4.9
2. 2
.1
22411. 5

27. 9
19. 8
5.5
2.5
•2
2389.8

29.6
21. 0
5.9
2.5
.1
2588.6

32.7
21.9
7. 2
3.5
.2
2821.9

16
17
18
19
20
21

571.8
42.3

656.9
"3.0

742.8
43.2

665.9
43.2

81t4.9
ltl,6

983.2 22
40.7 23

--4
13.3
-35.5

.1
15. 8
-41. 7

-.2
16.l
-45. 5

-.6
18.8
-50.3

-.2 24
20.6 25
-58.5 26

-2.4
50. 7

-2.2
61. 0

-2.0
66.5

-1.8 27
81.8 28

3012.0

3069.8

3442.7

3803.7 29

. .

l6
17
18
19
20
21

INTERBANK CLAIMS
MEMBER BK. RESERVES
VAULT CASH
FEDERAL RESERVE FLOAT
MEMBER BK. BORROWING
TOTAL DEBT ABOVE

23.2
18.2
3.0
1.6
.5
1480.4

1559.6

23. 5
17.4
3.7
2.3
.1
1 659 .9

22
23

AOO--FINANCIAL ASSETS NOT INCLUDED IN BORROWING
CORPORATE STOCKS
290.3
401t.7
438.2
38,8
39.4
40.2
GOLD

"31t.O
40.5

551,l
41.l

481t.4
41.5

24
25
26

OEOUCT--Fl.OATS NOT INCLUDED IN ASSETS
DEMAND DEPOSITS-u. s.GOVT.
•
OTHER
9,1
TRADE CREDIT
-15.2

-.2
9.4
-18.1

-.2
10.4
- 19 .7

-.3
12.1
-22.4

-.3
13.1
-25.8

12 .5
-211.5

•l
12.lt
-31.8

27
28

DEOUCT--LJABILITIES NOT ALLOCATED AS ASSETS
TREASURY CURRENCY
-2,4
-2.5
MlSCB.LANEOUS
36,4
39.4

-2. 5
43,l

-2.6
46.7

-2.7
35.7

-2.7
38.5

-2.6
42.0

1927.6

2000.6

2232.1

2284.7

2516.0

29

TOTALS ALLOCATED TO SECTORS
AS ASSETS


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1591.4

•

1380.1

1796.2

•

•

2750.0

414. 8
211.1
203. 7
208.4

4

5
6
7
8

FEBRUARY, 1970
MONETARY AND INSURANCE RESERVES
68

MONETARY ANO INSURANCE RESER YES
68

GOLO, OFFICIAL FOREIGN EXCHANGE, TREASURY CURRENCY, AND INSURANCE RESERVES
IBILLIONS OF DOLLARS I

YEAR-ENO LEV ELS, 1945-56

---------------1945

VEAR-ENO LEVELS, 1945-56
------------------------------------------------------------------------1950
1949
1948
1952
1954
1956
1955
1951
1953
----------------------------------------ANO OFFICIAL FOREIGN EXCHANGE HOLDINGS
----------------------------------------

1946

GOLD
-----------

1947

1. GOLD

1

2

3
4
5

T OTAL WORLD GOLD
u.s. GOLD STOCK
U.S .GOVT. I EX. STAB.FUND I
MONETARY AUTHOR !TIES
REST OF THE WORLD

33.3
20.1

•
20. l

13.2

33. 7
20.7
.2
20. 5
12.9

-.2

35.0
24.6
•l
24.4
10.5

35.4
22.8
.1

ll.3

34 .6
24.4
.2
24.2
10 .2

.9

1.3

1. 5

34.2
22.9
.1

22.A

12.5

35.6
22.9
•2
22.1
12.7

35.8
23.3
.1
23.2
12.6

1.4

1.4

1.5

22.1

14.2

36. 9
21.8
.1
21.7
15. l

37.6
21.0
.l
21.7
15.9

38. l
22. l
.1
21.9
16.0

l
2
3
4

1.4

1. 2

1.0

1.6

6

36 .3
22. l
.1

22.0

5

11. U.S .FGN.EXCHANGE POSITION

6
1

B

9

10

11
12

13

TOTAL u. s. POSITION
OFFICIAL FGN .CURR. HOLDINGS
TREASURY
FEDERAL RESERVE
NET IMF POSITION
CAPITAL SUBSCRIPTION
LESS-IMF NOTES
-IMF DEPOSITS AT F.R.

1
8

•2

.9
2.8
1. 5
.3

1.3
2.8
1.2
•3

1.5
2.8
1.0
.3

1.4
2.8
1.3

1.4
2.8
1. 3

l.5
2. 8
1. 3

1.4
2.8
1.3

l. 2
2.8
1.5

1.0
2. 8
1.6
.1

9
1.6 10
2. 8 11
1.1 12
.1 13

2.4
4.4
-2.0

2.4
4.4
-2.0

2.4
4 .4
-2.0

2. 4
4.4
-2.l

2.4
4. 5
-2.1

2.4
4.6
-2.2

2 .4
4.7
-2. 2

2. 5
4 .7
-2. 3

2. 5
4. 8
-2.3

2.5
4.9
-2.3

2.5 14
4.9 15
-2.4 16

-.2

II I. TREASURY CURRENCY

H

15
16

TOTAL U. S. GOVT.LIABILITY
MONETARY AUTHORITIES
UNALLOCATED ASSET

2.3
4.2
-1.9

----------------------------------------------------------------------------------------------I NSURANCE ANO PENSION FUND RESERVES
------------------------------------------------------------------------------------1. LIFE INSURANCE RESERVES

TOTAL LIABILITIES
u. s. GOVERN"I ENT
LIFE INSURANCE COMPAN IE S

39.6
3.6
36.0

43.4
4.8
38.6

46.5
5 .4
41.l

49.4
5.6
43.8

52. l
5. 7
46.4

55 .o
6.0
49.l

57.8
6. l
51.6

60. 7
6.2
54.5

63.6
6. 3
57.4

66.3
6. 0
60. 4

6 9.3
5. 8
63.5

72. 7
6 .1
66.6

l
2
3

TOTAL ASSETS IHOUSE HOLDS I

39.6

43.4

46.5

49.4

52.l

55.0

57 .8

60.7

63. 6

66. 3

69.3

12.1

4

ll.O
2.9
2.2
8. l
2.1
2.8
2.1

12.5
3.3
2.4
.9
9.3
3. l
3. 2
2.9

14. 8
4 .1
2.1
1.4
10.7
3.6
3.8
3.3

17. 2
4.9
3.l
1.8
12. 3
4.2
4 .4
3.7

20. l
6.0
3.6
2.3
14.l
4.8
5.0
4.3

24.0
6. 7
4.2
2.6
17.3
5.6
6.7
5 .o

27.5
7.5
4. 8

32.4
8 .4
5.4
3.0
24.0

12

TOTAL L IAB ILITIES
u. s. GOVERNMENT
EMPLOYEE RETIREMENT
RAILROAD RETIREMENT
INSURANCE SECTOR
LIFE INSURANCE COMP.NIES
PRIVATE PENSION FUNDS
s.+ L. GOVT. RTR. FUNDS

q.6
6. 7

37. 4
8.9
5.6
3. 3
28.4
8. 8
11.6
8. o

42.6
9.4
5. 9
3.4
33. 2
10.0
13. �
9.5

50.4
10.0
6.5
3.6
40.3
11.3
18.3
10.7

56. 6 5
10.9 6
7. 3 1
3. 6 8
45 .7 9
12.5 10
21. 0 11
12.l 12

13

TOTAL ASSETS I HOUSEHOL OS I

11.0

12.5

14.8

11.2

20.l

24.0

27.5

32.4

37.4

42. 6

50.4

56.6 13

1

2

3

4

11. PENSION FUND RESERVES
5

6

1

B

9

10

11


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.1

2.1

20. l
6.6
7. 8
5.7

1.1

FEBRUARY, 1970
MONETARY AND INSURANCE RESEIIVES

MONETARY ANO INSURANCE IIESERVES

GOLD, CFFICllL FOREIGN EXCHANGE, TREASURY CU RRENCY, ANO INSLRANCE RESERVES
I BILLIONS OF DOLLARS I

69

69

--------------------------------------------------------------------------1966
1%1
1957
1964
1965
1'160
1'162
1963
1958
1959
-----------------------------------------------------------------GOLD ANO OFFICI AL FOREIGN EXCHANGE HOLDINGS
----------------------------------------------------

YEAR-ENO LEVELS, 1957-611

YEAR-ENO LEVELS, 1957-68

I. GOLD
l
2
3
4
5

TOTAL WORLD GOLD
u.s. GOL D STOCK
U. S.GOVT. IEX.STAB.FUNOI
MONETARY AUTHORITIES
REST OF THE WORLD

6
7

TOTAL u .s. POSITION
OFFI CIM. FGN .CURR . HOLDI NGS
TREASURY
FEDERAL RESERVE
NET IMF POSITION
CAPI TAL SUBSCRIPTION
LFSS-IMF NOTES
-IMF DEPOSITS AT F.R.

.

.

41.l
16.9
.1
16.9
24.2

41.5
16.l
.l
16.0
25.4

1.6

l.8
.1
.1

l .2
.1

2.0
4.1
2.1
.1

1.6
4.1
2.5
.1

1. 7
4.1
2.4

.1
1.1
4.1
3.0

2.6
5 .2
-2.5

2.7
5. 2
-2.6

2.7
5.4
-2.7

2 .8
5.4
-2.7

40.5
17.8

20.5
18.9

40. 2
1'1.5
.1
19.5
20.7

2.0

2.0

2.0

2.0
2. 8
•7

2.0
2.8
.8

2.6
5. 0
-2.4

2.6
5.1
-2.5

38.8
22.9
•1
22.8
15.9

39.4
20.6

17.8
22. 7

11. U.S .FGN. EXCHANGE POSITION

II

9
10

11

12
13

.

1967

196 8

42.3
15.6
.1
15.5
26.7

43.0
15 .5
.1
15.4
27. 5

43. 2
13.8
.1
13.7
29.4

43.2
13. 2
.1
13.2
30. 0

41.6
12. l
•1
12.0
29.5

40. 7
10.9
.5
10.4
29 .8

1.2
.2
.1
•2
1.0
4.1
3.0
.1

1.2
.4
.1
.3
•8
4.1
3.3

1.6
.8
•2
.6
.9
4.4
3. 5

1.6
1. 3
.4
.3
4.1
3.7
.1

2.8
2. 3
.7
1.6
.4
3.4
2.9
.1

4. 8
3 .5
1.5
2. 1
1.3
3.2
1. 8
.1

2.8
5.4
-2.6

2.8
5 .2
-2.4

3.1
5. 4
- 2.4

4.0
6.2
-2. 2

4.6
6.6
-2. 0

.q

6
7
11
9
10
11
12
13

II I. TREASURY CURR ENCY

14

15

16

TOTAL U.S.GOVT.LIABILITY
MONETARY AUTIORIT !ES
U NALL OCATEO ASSET

5. 1 14
6 .11 15
-1.1 16

----------------------------------------------------------------------------------------------INSURANCE ANO PENSICN FUND RE SERVES
-----------------------------------------------------------------------------I. LI FE INSURANCE RESERVES

I
I

TOTAL LI ABILI Tl ES
u.s. GOVERNMENT
LIFE INSURANCE COMPANIES

75. 5
6.2
69.3

78. 5
6.2
72. 3

82.0
6.4
75 .6

85.2
6.4
78.8

88.6
6. 5
112.1

92.4
6 .6
85.8

96.6
6.�
8 9 .9

101.1
6.9
94.2

105.9
7. 0
98. 9

llO. 6
7.1
103. 5

lt5.4
7.2
108.2

7.2
112 ••

4

TOTAL ASSETS IHOUSEHOL OSI

75. 5

78. 5

82.0

85.2

8 8 .6

92.4

96.6

101.1

105.9

110.6

ll5.4

120.0

5
6
7

62.6
11.3
7. 7
3. 7
51. 3
14. l
23.4
13. II

72.4
12. 3
8.6
3. 7
60.1
15.6
29. 2
15.3

82.1
13.2
9 .5
3.7
69.0
17.6
34.1
17.3

90.7
14.l
10.4
3.7
76.6
18.9
38.2
19.6

103.5
15.0
11.4
3.6
811 .5
20.3
46.3
22.0

109.5
16 .o
12.5
3.5
93.5
21.6
47.3
24.5

122. 8
11.2
13.6
3.6
105.6
23.3
55.♦
26.9

137.3
18.4
14.8
3.7
118.9
25.3
.3.9
29.7

152. 7
19.7
15.9
3.8
133.0
27. 3

161. 3
21.0
17. 0
4.0
140. 3
29.4

12

TOTAL LIABILITIES
u.s. GOVERNMENT
EMPLOY EE RETIRE ME NT
RAIL RO AO RETIR EM ENT
INSU RANCE SECTOR
LIFE INSURANCE COMPANIES
PRIV ATE PENSION FUNDS
S.+ L. GOVT. RTR. FUNDS

33.1

37.l

182. 6
22. 3
18.0
4.2
160.3
32.1
116.'S
41.7

202.9 5
23. 6 6
19.3 7
4.3 8
179.2 9
35.0 10
911.3 11
12

13

TOTAL ASSETS I HOUSEHOLDSI

62.6

72.4

112.1

90.7

103.5

lM.5

122.8

137. 3

152. 7

1,1.3

1112.6

202.9 13

120.e

J

"

II. PENS ION FUND RESERVES

II

9
10

11


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

12.,

n.e

••••

FEBRUARY, 1970
MONEY ANO DEPOSITS SUMMARY

MONEY ANO OE POSITS SUMMARY
MONEY SUPPLY ANO TIME ANO SAVINGS ACCOUNTS
IBJLLIONS OF OOLURSI

70

70
YEAR-ENO LEVELS, 1945-56

YEAR-ENO L Evas, 1945-56
1945

----------

1946

1947

1949

19♦8

-----------------------1950

1951

1952

1953

195♦

1955

1956

131.0
28.6
1.5
.5
26.5

137.4
29.9
1.7
.6
27.7

137.5
29. 8
1.1
.4
2 8. 3

142.0
29. 9
1.4
.5
28.0

144.2
30.0
1.2
.4
28.5

1♦6.0
30.1
1.2
.3
28 .5

1
2
3
4
5
6
7
8
9

DEMAND OEPOS ITS ANO CURRENCY
1 NET BANKING SYSTEM LUBILI TY
MONETARY A UTtCRITIES
2
GOVT. CASH + DEP.
3
u.
FOREIGN DEPOSITS
4
C\JtRENCY
5

s.

6
7
8
9

C°"MERCUL BANKS
u. s. GOVERNMENT
FOREIGN
OTHER

10 TOTAL ASS ETS
11
u.s. GOVERNMENT
12
13
14
15
16
17
18
19
20
21
22

PRIVATE MONEY SUPPLY
OOMESTJC SECTORS
HOUSEtCLOS
NONFINANC IAL BUSINESS
CORPORATE
NONFARM NONCORPORATE
FARM
STATE ANO LOCAL GOVTS.
F lNANCUL SECfflR S
MAIL FLOAT
R EST OF THE WORLD

132.6
31.1
3.3
1.2
26.6

118.1
30.4
2.7
.8
26.9

119.2
29.3
2.2
.4
26 .7

118.7
29 .4
2.4
•7
26. 2

118.7
28.5
2.1
25.6

123.9
28.2
2.0
.6
25.6

101.4
24.5
.2
76.7

87.7
3.0
.6
84.1

89.9
1.3
.8
87.8

89.4
2.3

.a

86.2

90.2
3.1
.3
86.8

95.7
2.8
•7
92.2

102.4
3.4
.3
98.8

107.5
4.9
.5
102.2

107 .6
4.1
.3
103.2

112.1
4.2
.4
107. 6

114.2
3.7
.4
110.1

115.9
3.7
•7
111.5

132.6
27. 8

118.1
5.7

119.2
3.5

118.7
4.8

118.7
5.2

123.9
4.8

131.0
4.9

137.4
6.6

137.5
5. 3

142.0
5.5

144.2
4.9

146.0 10
4.9 11

104. 8
103.4
56.0
33. 9
20.4
8.9
4.6
4.4
4.3
4.7
1.4

112.4
111.0
59.0
36. 8
21.4
8.9
6.4
5. l
5.0
5.2
1.4

115.7
114.4
57.0
40.4
23.6
9.3
7 .5
5.7
5.3
6.0
l .2

113.9
112,4
54.7
40.5
23.8
9.1
7. 5
6.1
5.4
5.7
1.5

113.5
112.4
52.9
41.4
24.9
9.5
7.0
6.3
5.6
6.1
1• 1

119.1
117.8
55.0
43.1
26.4
9.7
1.0
6.7
6.3
6.7
1.3

126. l
125.3
58.3
46.0
28.0
10.8
7.2
7.0
1.0
1.0
.8

130.8
129.8
60.3
46.3
28.8
10.4
7.1
7.4
7.L
a. 1
1.0

132.2
131.4
61.0
46. 3
28.9
10.4
1.0
7.8
7.5
a. 9
•8

136,4
135.6
62.4
48. 8
31.0
10.9
6.9
7.5
7.9
9.1
,9

139.4
138.6
62.9
50.2
32.1
11.2
6.9
7.3
8.5
9.9

.a

141.1
140.1
63.9
50.5
32.2
11.5
6.7
6.9
a. 1
10.2
1.0

104, 6
48,9
1,1
2.4
.4
.3
3.4
41.4

113,0
50, 3
1,0
2.4
.4
.2
3.2
43.l

122.4
52,3
1,0
.2.4
.3
•2
3.1
45.3

1
2
3
4
5
6
7
8
9

.a

-----------------------

------------

Tl ME DEPOSITS ANO SAVINGS ACCOUNTS

1 TOTAL HELD
2 AT COMMERCIAL BANKS
3
CORPORATE BUSINESS
STATE ANO LOCAL GOVERNMENT
4
5
u.s. GOV ERNMENT
.6
MUT. SYGS. BANKS
FOREIGN
7
HOUSEHOLDS
8
9 AT SAYINGS INSTITUTIONS
LIABILITIESSAVINGS + LOAN AS SNS•
l!UTUAL SYGS. BANKS
CREDIT UNIONS

10
11
12
13
14

ASSETSHOUS EHOLDS
CR EDIT UNION OEPOSI TS
AT S ANO L'S

15 MEMO - t«>USEHOLDS TOTAL
TIME + SYGS, ACCOUNTS


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

53,4
30,4
.9
,·5
•1
•1
1.6
27.1

60,0
34,2
,9
.7
•1
.2
1.6
30. 7

63,6
35.5
.9
.9
•1
.2
1.6
31.9

66,l
36,2
,9
1.1
•1
,2
1.6
32.2

69, l
36,6
,9
1.3
.2
.2
1.7
32.3

23.1

25. 8

28.0

30,0

32.5

7.4
15.3
.4

8. 6
16, 8
.4

9.8
17.8
.5

11.0
18,4
.6

12, 5
19.3
•7

22.9

25. 6

27.9

29.8

32 .3

.2

.2

.2

.1

.I

50,0

56,3

59,8

62,0

64.7

----------------

---·-------------

12
13
14
15
16
17
18
19
20
21
22

---------

76.7
'38,7
.9
1.5
.3
.2
2.1
33. 7

84,9
41,7
,9
1.6
.4
.2
2.3
36.4

34,9

38.1

43.2

48.9

55.6

62. 8

70.1

14,0
20.0
.9

16,l
20.9
1. l

19,2
22.6
1,4

22. 8
24.4
1. 7

27,3
26,4
2,0

32,1
28.2
2.4

37.1 10
30.0 11
2,9 12

34.8

37.9

42,9

48.7

55. 3

62.4

69.7

.1

•2

•3

.3

•3

,4

.4 14

67,l

71,6

79,3

87. 6

96,7

105,5

115.0 15

71, 8
36.9
,9
1.4
,2
.2
2.0
32.3

94.l
45,1
.9
2.0
•3
.2
2. 8
38.9

13

FEBRUARY, 1970
MONEY ANO DEPOSITS SUMMARY

MONEY AND DEPOSITS SUMMARY
MONEY SUPPLY ANO Tl Ne AND SAVINGS ACCOUNTS
I B ILLIONS OF DOLLARS I

71

71
YEAR-END LEVELS, 1957-68

YEAR-ENO LEVELS, 1957-68
1957

1958

1959

1960

1961

1962

1963

1964

-----------1966

1965

1967

1968

----------------------------

DEMAND DEPOSITS AND CURRENCY
1 NET BANKI NG SYSTEM LIABILITY
MONETARY AUTHORITIES
2
U. S. GOVT. CASH + DEP.
3
4
FOREIGN DEPOSITS
CURRENCY
5

145.3
30.1
1.2
.4
28. 5

151. 1
30.3
1.0
.3
28. 9

152 .o
30.8
.9
.4
29.6

152.2
30.6
.9
.2
29 .5

157.8
31.lt
.9
.3
30.2

162.3
32. 3
1.0
.3
31.0

168.0
34.2
1.2
•2
32.7

175 .5
36.8
l.4
.3
35.l

183. l
38.8
1.4
.2
37.2

185. 7
0.2
1.6
.4
39. 2

200.0
lt4.2
2. 5
.4
"1.3

211. l
45.6
1. 4
.5
"3.7

l
2
3
4
5

6
7
8
9

115.2
3.9
.9
110.4

120.8
4.3
.9
115.6

121.2
5.1
.9
115. 3

121.6
5.9
1. 1
114.5

126.3
5.9
1. 8
118.6

130.0
7 .2
1 .9
121.0

133.9
6.5
2.2
125. l

138.7
6. 5
2.1
129.5

144. 3
5. 5
2. 8
135.9

144.5
5.0
1. 7
137.8

155.9
5.2
2.3
1"8.3

165. 5
5 .0
2.0
158.5

6
7
8
9

llt5.3
5.1

151. l
5. 3

152.0
5.9

152 .2
6 .8

157.8
6.8

162 .3
8.l

168.0
7.8

175.5
7.9

183.l
1.0

1 85. 7
6.6

200.0
1.1

211.1 10
6.4 11

140.2
138.9
62.7
51.2
32.3
12.4
6.6
6.9
9.0
9.1
1.2

145.8
lltlt.6
64.4
51t.2
33.6
13.6
6.9
6.9
9.8
9.4
1.2

146. l
llt4.9
66.2
51.6
32.6
12.7
6.2
1. 0
9.8
10.4
1.2

145.4
144.0
65.0
50.4
32.2
12.4
5 .8
6.4
10.3
12. 1
l.3

150.9
148.9
66.1
52. 1
33.8
12.5
5.8
6.1
11.5
13.l
2. 1

154.2
152.0
68.9
51.2
32.8
12.5
5.9
1.0
12.4
12.5
2.2

160.3
157.8
74.5
50.2
32.0
12 .5
5.7
8.2
12.5
12.4
2.lt

167.5
161t.6
80.6
"8.2
29. 8
12.5
5.9
9.6
12.9
13.3
2.9

176.2
173. l
88.0
"6.7
28. 2
12. 5
6.0
9.4
13.2
15.8
3.0

179. l
111. 0
91. 0
lt7.5
28.9
12. 5
6.0
9.4
13.1
16.l
2. 2

192. 3
189.6
102. 4
lt5.4
26.8
12 .5
6.1
8.9
14.2
18.8
2. 7

204. 7
202. 2
109.7
lt6. 7
28. 1
12.5
6.1
10.0
15. 1
20.6
2.5

12
13
14
15
16
17
18
19
20
21
22

286.l
127.2
15.4
9.8
.3
.2
6.7
91t.8

319. 2
147.2
19. 2
12.2
.3
.2
7. 3
108.0

338.3
159.3
18.6
13. 5
.2
.2
a. 2
118.7

379.0
183. l
22.7
15.9
.3
.2
9.6
134.5

1t12.1
203. 7
24.8
19. l
.4
.3
9 .5
llt9.6

1
2
3
4
5
6
7
8
9

COMMERCIAL BANKS
u. S • GOVERNMENT
FOREIGN
OTHER

10 TOTAL ASSETS
u.s. GOVERNMENT
11
12
13
14
15
16
17
18
19
20
21
22

PRIVATE MONEY SUPPLY
DOMESTIC SECTORS
HOUSEIOLDS
NONF INANCI Al BUSIN ESS
CORPORATE
NONFARM NONCORPORATE

FARM

STATE AND LO CAL OOVTS.
FINANCIAL SECTORS
MAIL FLOAT
REST OF THE ll>RL D

TIME DEPOSITS AND SAVINGS ACCOUNTS

-·-·-------

1 TOTAL HELD
2 AT COMMERCIAL BANKS
CORPORATE BUSINESS
3
STATE ANO LO CAL GOVERNMENT
4
5
u.s. GOVERNMENT
6
MUT. SVGS. BANKS
7
FOR El GN
HOUSEHOLDS
8
9 AT SAVINGS INSTITUTJ ONS
LI ABILI Tl ESSAVINGS + LOAN A SSNS.
MUTUAL SVGS. BANKS
CREDIT UN IONS

10
11
12
13
14

ASSETSHOUSEHOLDS
CR EDIT UNION DEPOSITS
AT S ANO L'S

IOUSEHCl.OS TOTAL
15 MEMO
TIME + SVGS. ACCOUNTS


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

-------------------------------------

161. 5
67.5
1 .5
3.2
.3
•1
3 .1
59.4

176.8
73.3
2.8
4 .6
.3
.1
3.5
62 .2

197.5
82. 7
4.6
5. 5
.3
.2
3. 8
68.4

226.2
98.3
8.3
6.5
•3
.2
4.3
78.7

255. 7
112.6
12.2
B.l
.3
.1
5.3
86.6

85 .9

94.0

103.5

114.8

127.9

143.l

159.0

172.0

179.0

195.9

208. 4

48.0
34.0
3.9

54.6
35.0
4.4

62. 1
36.3
5.0

70 .9
38.3
5.6

80.2
41.3
6.3

91.3
44.6
7.2

101.9
It&. 8
8.2

110.4
52.4
9.2

11".0
55.0
10.0

124.5
60.1
11.2

131.6 10
64. 5 11
12.3 12

76.6

85. 3

93.5

103.1

114.3

127.3

142.lt

158. l

171.3

178.4

195.0

207. 8 13

.4

.6

.5

.3

.5

.6

•7

.8

.8

.5

.8

.6 lit

121.0

lltl. 1

152.8

165.3

182.6

206.0

229.0

252.9

279. 3

297.1

329.5

357.4 15

134.8
57.8
1.0
2. 8
.3
.1
3.1
50.5

151.6
65.8
1.9
3.6
.3
.2
4.0
55. 8

77.0
41.9
31.7
3.4

FEIIWARY, 1910
GOVT. SECURITIES

u.s.

u.s.
IBILLIONS

YUR-Efl> LEVELS, 1945-56

l TOTAL OUTSTANDING
INQ.UOED IN PUBLIC DEBT
HOUSEHOLD SAVINGS 80NDS
DIRECT exc. SAVINGS BONDS
SHORT-TERM MARKETABLE
OTHER DIRECT

2

3
4
5
6

1

B
9
10

11
12

GOVT. SECURITIES

u. s. GOVERNMENT SECURITIES MARKET SUMMARY

72

OTHER
BUDGET AGENCY ISSUES
LOAN PARTICIPATION CTFS.111
CCC CTFS. O F INTEREST
OTHER
SPONSORED AGENCY ISSUES 121

13 TOTAL HOLDINGS, 8Y SECTOR
U.S .GOVERNMENT (AGENCY SEC. I
14
SPONSORED CREDIT AGENCIES
15
DIRECT MARKETABLE
16
FHL B SPECIAL ISSUE
17
f'EDERAL RESERVE SYSTEM
18
SHORT-TERM MARKE TABLE
19
OTHER
20

OF

----------------1948

1949

1950

216.7
214.2

219.l
216.7
49. 3
167.4
NA
NA

2.5
.9
.9

1. 3

1.6

1.4

229. 2

222 .1

216.7

.4
.4

.3
.3

.5
•5

24. 3
NA
NA

23.4
NA
NA

22.6
NA
NA

2.6
1.8
.7

1.9
1.4
.5

1952

1953

218.3
216.l
49.6
166.6
NA
NA

218.2
215.8
49.l
166.7
NA
NA

223.0
220. 3
49.2
111.1
63.9
107. 3

230.l
225. 7
49.4
176.4
79. 8
96.6

2. 5

2.2

2. 3

2.7

1.0
1. 0

.4
.4

.3
•3

.6
.6

1.e

2.1

219.1

218. 3

•5

.5

.4
.4

23.3
NA
NA

18.9
NA
NA

1 .2
.6
.5

1.6
1.1
.5

85.1
46.2
38.6
NA
NA
•3

1946

1947

252.4
251.2
42.9
208.2
NA
NA

229.2
227.9
44.2
183.8

222.l
220.7
46.2
174.5
NA
NA

166.3
NA
NA

1.2

1.3

l .4

.3

•3

.1
.1

.1
.1

.9

1.2

252.4
.4
.4

NA

YEAR-ENO LEVELS, 1945-56
--------------------1954
1956
1955
------------------------------------------1951

1945

NA

72

DOLURSI

232.5
228.l
50. 0
178.l
65.l
113.0

232.6
228.0
50.2
177.8
69.0
108.8

227.3
222.5
50.l
172.3
75.4
97 .o

l
2
3
4
5
6

4.4

4.4

2. 3
2. 3

2.3
2. 3

4.6
.6
1.0
1.0

4.8
.6
•8

7
8
9
10

2.1

2.l

2.1

3.0

3.4 12

218. 2

223.0

230. 1

232. 5

232.6

.4
.4

•5
.5

.6
•6

.8
•8

1.0
1.0

20.8
NA
NA

23. 8
NA
NA

24. 7
14.6
10 .1

25.9
16. 5
9. 4

24.9
19.9
5.1

24. 8
21. 2
3.6

227 .3 13
14
1. 2 1 5
1.2 16
17
24.9 18
22. 2 19
2.7 20

1.9
1.3
.6

3.1
1.5
1.6

3.0
2.1
.9

4.1
2. 9
1 .2

4.5
3.4
1.1

4.8
3.7
1.1

5. 8
4.2
1.6

6. 7 21
5.2 22
1.5 23

86.4
47. 8
38. 2
NA
NA
.4

8'1.5
49.3
39. 9
NA
NA
•3

92.6
49.6
42. 7
NA
NA
.4

93. I
49.1
43.4
NA
NA
.6

93.1
49.2
43.4
17.5
26.0
•5

96.0
49.4
46.2
21 .e
24.4
•5

93. 6
50.0
43.1
19. 2
23.'I
.5

100.9
50.2
49. 3
26.6
22.1
1.4

98.2
50.l
46.3
26.3
20.0
1. 8

24
25
26
27
28
29
30
31
32

47.11

. .

-.a

. . .

11

-

21
22
23

FOREIGN
SHORT-TERM MARKETABLE
OTHER

24
25
26
27
28
29
30

PVT. DOMESTIC NONFIN.
SAYINGS BONDS - HOUSEHOLDS
DIRECT EXC. SVGS. 80NOS
SHORT-TERM MARKETABLE
OTHER
AGENCY ISSUES
LOAN PAR TIC IPAT IONS

91.1
42.9
48.l
NA
NA
.1

83. 8
44.2
39.4
NA

3l
32

34
35
36

HOUSEHOLDS
SAVINGS BONDS
DIRECT EXC. SVGS. BONDS
SHORT-TERM HKT.
OTHER
AGENCY ISSUES

64.8
42.9
22. 0

63. 7
44.2
19.5
NA
NA

65. 5
46.2
19 .2
NA
NA
.1

65.6
47. 8
17.6
NA
NA
.2

66 .1
49. 3
17. 3
NA
NA
.1

66.5
49.6
16.ll
NA
NA
.2

65. 7
49. I
16.1
NA
NA
.4

65.4
49. 2
15 .9
5 .3
10.6
•3

65. 7
49.4
15. 9
1.3
8.6
•4

64. l
50.0
14.1
5.0
9.1
•3

66.8
50 .2
15. 7
5.4
10.3
.9

67.9
50.1
16.6
6.9
9.7
1. 2

34
35
36

31
38
39
40
41

CORPORATE NDNFIN. BUS !NESS
DIRECT
SHORT-TERM MKT.
OTHER DIRECT
AGENCY ISSUES

21.l
21.1
NA
NA

15. 3
15. 3
NA
NA

14.0
14.0
NA
NA

14 .8
14.8
NA
NA

16.7
16.7
NA
NA

19. 6
19.6
NA
NA

20. 5
20. 5
NA
NA

19.9
19. 8
I0. 7
9.1

21.4
21.4
11. 5
9.9

19.1
19.0
11. 5
7. 5
.1

23.3
23.0
18 .o
4.9
•3

18. 8
18.4
15. 4
3.0
.4

37
38
39
40
41

42
43
44
45
46

STATE + LOCAL GOVTS.
DIRECT
SHORT-TERM MKT.
OTHER
AGENCY ISSUES

5.2
5. 0
NA
NA
.2

4.9
4. 7
NA
NA
.2

5. 5
5 .3
NA
NA
.2

6. 0
5.8
NA
NA
•2

6.0
5. 8
NA
NA
.2

6.5
6.3
NA
NA
.2

6.9
6.7
NA
NA
.2

7. 8
1.1
1.5
6. 3
.1

9. 0
8. 8
2.9
5.9
.1

I 0.2
Io. 0
2. 8
7. 3
.1

10.3
10.7
3.2
7.5
.2

11.5
11.3
4.1
7. 2
•2

42
43
44
45
46

48
49
50

41

COMMERCIAL BANKS
SHORT -TERM MARKETABLE
OTHER OIRECT
AGENCY ISSUES

91. 5
NA
NA
1.1

75.6
NA
NA
1.1

70.1
NA
NA
1.1

64 .4
NA
NA
2.0

68 .9
NA
NA
2.1

63.6
NA
NA
1. 8

62.9
16. 7
lt4.6
1.6

65. 3
23. 5
39.6
2. 1

67 .0
32.1
31.4
3. 6

72.f:
17.0
51. 9
3.7

61t.6
12.1
lt9.6
2. 9

61. 7
15. 8
43. 5
2.1o

41
48
49
50

51
52
53
54

PRIVATE NONBANI< FINANCE
SHORT-TERM MARKETABLE
OTH ER DIRECT
AGENCY ISSUES

42.6
NA
NA

44.2
NA
NA

42. 8
NA
NA

40.5
NA
NA
.1

39. 5
NA
NA

37.8
NA
NA

34.9
NA
NA
.1

35. 5
5. 0
30. 3
.2

36. 0
5. 4
30 .3
•2

35.7
4.4
31. 1
•2

35. 5
3 .9
31.2
.4

34. 5
"· 6
29.3
.6

51
52
53
54

2.0
2. 0
NA
NA

1.1
1 .7
NA
NA

1. 5
1. 5
NA
NA

1.5
1. 5
NA
NA

1. 5
1.5
NA
NA

1.6
1.6
NA
NA

1.8
l.8
.4
1.4

1. 9
1.9
•3
1.6

2. 0
2. C
.1
1.9

2.5
2.4
.2
2. 2
.1

2.9
2.8
•3
2. 5
.2

55
56
57
58
59

33

NA

NA
-.1

NA

.2

-

33

55
56
51
58
59

SVGS.+ LOAN ASSNS.
DIRECT
SHORT-TERH HARKE TABLE
OTHER DIRECT
AGENCY ISSUES

2.lt
2.lt

60
61
62
63
64

HUTU AL SAVINGS BANKS
DIRECT
StORT-TERM MARl<ETA8LE
OTHER
AGENCY ISSUES

10. 7
10.7
NA
NA

11.e

ll.8
NA
NA

12.0
12.0
NA
NA

ll.6
11.5
NA
NA
.1

ll.5
ll.4
NA
NA

10.9
10.9
NA
NA

9.9
9.8
NA
NA

9. 5
9. 5
•3
9.2

9.3
9. 2
•5
8 .1
.1

8. 8
8.8
•2
8. 6
.1

e. 6

8. 5
•3
8.2
.I

8.2
8. 0
.4
7 .6
•2

60
61
62
63
61t

65
66

L IFE INSURANCE
DIRECT
SHORT-TERH HARKE'TA8LE
OTHER
AGENCY ISSUES

20. 6
20.6
NA
NA

2 l .6
21.6
NA
NA

20.0
20.0
NA
NA

16. 8
16.8
NA
NA

15. 3
15. 3
NA
NA

13 .5
13.5
NA
NA

11.0
u.o
NA
NA

10. 3
10.3
.5
9. 1

9. 9
9.9
.5
9.4

9.l
9.1
•6
8.6

8.6
8.6
.4
0. 2

7 .6
7 .6
•3
7. 3

70
71
72

NONL IFE INSURANCE
DIRECT
SHORT-TERM HARKETABLE
OTHER
AGENCY ISSUES

2. 7
2.1
NA
NA

3.3
3.3
NA
NA

3.9
3.9
NA
NA

lt.4
lt.4
NA
NA

4.8
4. 8
NA
NA

5. 3
5 .3
NA
NA

5. 5
5. 4
NA
NA
.1

5. 8
5. 8
l .O
4. 7
.1

6.1
6. 0
1. 4
4.6
.1

6. 2
6.1
•1
5. 5

6. I
6 .o
.6
5.4
.1

.

65
66
67
68
69

5. 7 70
5.1 n
.8 72
4. 9 n
.1 74

75
76
77

18
79

PRIVATE PENSION FUNDS
DIRECT
SHORT-TERM MARKETABLE
OTHER
AGENCY ISSUES

.9
.9
NA
NA

l.2
1. 2
NA
NA

1.4
1.4
NA
NA

l .1
l .1
NA
NA

1.9
1.9
NA
NA

2.0
2. C
NA
NA

2.l
2.1
NA
NA

2.3
2. 3
•2
2. 0

2. 5
2.5
•3
2. 2

2. 6
2.6
•3
2.3

2.9
2. 9
•2
2. 7

2.1
2.1
.4
2. 3
.1

78
79

80
81
82
83
84

s .+ L .GOVT. RTR. FUNDS
DIRECT
SHORT-TERH HARl<ETA8LE
OTHER
AGENCY ISSUES

1.5
l .5
NA
NA

1.1
1. 7
NA
NA

1.9
1.9
NA
NA

2.1
2.l
NA
NA

2 .3
2 .3
NA
NA

2.5
2.5
NA
NA

2. 9
2. 9
NA
NA

3.4
3.4
.1
3. 3

3. 9
3. 9
•2
3.1

4.4
4.4
•2
4. 2

4.1
4.7
.2
4.5
.1

5. 0
4. 9
.2
4. 7
.1

80
81
82
83
84

85
86
87
88

INVESTMENT COS. IDIRECTI
SEC.8RKRS.+ Ill.RS.I " I
AG. O F FGN.BANKS ( " I
8KS.IN TERR.+ POSS.I " I

1.9
1 .3
.6

.9
1. 2
•5

•3
1. 2
.4

.1

.1
.1
l .2
.3

.1

.6
1 .2
.3

.1
.3
1. 2
•3

.1
.1
1. 3
.3

.t

1.3
.4

.6
1. 3
•3

•2
.1
1.4
•3

.3
•3
l .3
•3

.3
.2
1. 5
•3

85
86
87
88

191.3

197.9

1 94.l

190.9

193.8

199.0

2 01. 9

201.0

67

68
69

73
14

89

NA

NA

.

HEHO: HELO 8Y PVT. DOMESTIC
225.2
203 .6
198.0
INONFINANCI Al, BANKS, ANO PVT. NONBANK FINANCE)

.e

I11 WHERE NOT SHOWN SEPARATELY, LOAN PARTICIPATIONS ARE INCLUDED WITH
AGENCY ISSUES
2 ITHESE ISSUES ARE OUTSIDE THE BUDGET
Digitized forIFRASER
SECTOR IN FLOW-OF-FUNDS ACCOI.IHS.
https://fraser.stlouisfed.org
DEBT O F FINANCIAL INSTITUTIONS.
Federal Reserve Bank of St. Louis

ANO OUTSIDE THE U.S. GOVERNMENT
THEY ARE I NCLUOEO IN CREDIT MARK ET

75
76

11

l91t. 4 89

FEBRUARY, 1970
u. s. GOVT. SECURITIES

u. s.
u. s.

73

GOVT. SECUI !TIES

GOVERNMENT SECUR IT !ES MARKET SUMMARY
C BI LLIONS OF DOLLARS I

73

------------------------- -- --- -------------------------------------------------------------------------------1967
1966
1964
1968
1965
1962
1963
1959
1960
1957
1961
l 958
-----------------------------------------------------------------------------------------------YE AR-END LEVELS, 1957-68

YEAR-END LEVELS, 19 �7-68

226.3
219. 8
48.2
I 71. 6
82. 2
89. 3

235. 3
228.8
47. 7
181. l
79.4
101.1

244 .3
236. 2
45.9
190 .3
84. 7
105. 5

242. 5
234 .o
45.6
188 . 3
8 8 .2
100.1

250.l
240 .7
46.4
194. 2
98.9
95.3

2 58.4
246.9
46.9
200.0
99.8
100.2

263.9
251. 0
48.0
202.9
101.l
101.9

270.5
256.4
49.0
207 .4
105. 8
101.6

274. 3
257.7
49.6
208. l
108 .8
99. 3

282. 9
260.0
50. l
209. 9
110. 2
99.6

295. 5
268.9
51 .o
21 7.9
118. 9
99.0

6. 5
1.4
•3
.3

6.5
•e
•8
.8

8.l
.e
•2
•2

8 .5
.6
.6

9. 5
.l
.9
.9

12.9
•2
1. 2

.5

7.l

7 .9

8 .5

11.5

16. 6
•3
2.4
.5
1.9
13.8

26.6
.5

4. 9

14.2
.4
2.0
•5
l.5
I 1.8

22.9
.3
3.7

4. 8

11.5
.l
1.4
1.1
.3
10.0

3.2
18.9

l.7
6.0
18.4

226.3

235. 3

244 .3

242.5

250.l

2 58.4

263.9

270.5

274. 3

1.2
1.1
.l
24. 2
21. 8
2.4

l. 3
1.1
.2
26. 3
21. 0
5.4

1.4
1.2
.2
26.6
20.2
6.5

1.5
1.4
.1
27 .4
19.2
8.l

1.4
1.4
.1
28.9
18 .3
10.6

l.8
l.7
.l
30.8

2.2
1.9
•3
33.6
25.6
8.o

1.8
1.8

1.9
1.6
.3
40. 8
31.9
e. 9

282. 9
1. 4
2.9
2.0
.9
44. 3
36. 5
7.8

295. 5
l. 3
2.9
2.8
•l
49.l
39.2
9.9

6.9
5. 4
l.5

1. 0

5. 4
1. 6

10.0
7. 5
2.5

10 .6
1.1

12.3
9.2
3.l

12.9

13.4

2.9

11.0
7. l
3.9

4.2

e.e

4. 6

13. 2
8.4
4.9

10. 8
7. 6
3.3

12. 9
9.2
3.7

98.l
48. 2
46.9
29. 3
l 7. 6
3.0

95.lt
47. 7
lt5. 3
26.5
18. 8
2.4

108 .l
4 5 .9
57. 5
34 .o
23 .5
4.7

10 2.e
45.6
52. 7
29. 8
22.9
4.4

101.9
46.4
50.8
30.l
20.7
4.6

l 03.2
46.9
51.4
31.0
20.4
4.9

107.7
48. 0
54.0
32.8
21.l
5.7

108. 3
49.0
53. 3
29. 8
23. 5
5.9
•2

110.7
49.6
54. 0
32. 0
22.0
6.6
•5

119. 3
50. 1
57. 3
32.9
24. 5
10. 2
l. 7

116.6
51. 0
53.5
30.3
23.2
9.9
2.l

125.6
51.5
58. l
36 .e
21 .3
12. 8
3. l

24
25
26
27
28
29
30

HOUSEHOL OS
S AVINGS BONDS
DIRECT EXC. SVGS. BONDS
SHORT-TERM MKT.
OTHER
AGENCY ISSUES

68.0
48. 2
17 .9
9.1
8. 8
1.9

65. 3
41.1
16.l
6.9
9. 2
l. 5

70.4
45.9
21.4
10 .4
11.0
3.0

69 .e
45 .6
21. 5
7.8
13.6
2.7

69.0
46.4
20.0
6.7
13.3
2.6

69.1
46.9
19.3
6.9
12.4
2.9

72.8
48.0
21.4
9.8
11.6
3.3

75.0
49.0
22. 2
8.4
13.8
3. 8

77.l
49.6
23. 5
11.5
12.0
4.0

84. 5
50. l
26.2
12. 9
13.3
e. 2

85.2
51. 0
24.9
10.6
14.2
9.3

92.4
51 .5
29.3
17 .o
12.3
ll.6

31
32
33
34
35
36

38
39
40
41

CORPORATE NONF IN. BUSINESS
DIRECT
SHORT-TERM MK T.
OTHER DIRECT
AGENCY ISSUES

18. 4
11. 5
15. 2
2 .3
.9

18 .4

.1

25.0
23 .6
l 7. 3
6. 3
1.4

19. 5
18. l
15. l
3.0
1.4

19.2
17. 6
15.7
2.0
1. 5

19.6
18.l
15.4
2.6
1.6

20.2
18.2
llt.5
3.8
1.9

18.6
11.0
13. 7
3. 3
1.6

l7. 0
15.0
ll.5
3. 5
2.0

15. 8
13.4
10. l
3.lt
2.1t

12 .e
11.8
9.lt
2.lt
.9

lit. 5
12. 8
9.8
3.0
1.1

37
38
39
40
41

lt2
43
44
45
46

STATF + LOCAL GOVTS.
DIRECT
St-ORT-TERM MKT.
OTHER
AGENCY ISSUES

I l.8
11.6
5. 0
6. 5
•2

ll.7
11.5
4. 5
7. 0
.2

12. 8
12. 5
6 .2
6 .3
.3

13.4
13. l
6.8
6.2
.4

13.7
13.2

1.1

5.5
.5

14. 5
14 .o
8.6
5.4
.5

14. 8
14.3
8.6
5.8
.5

14.7
14.l
7 .8
6.lt
.6

16.6
15. 5
9. 0
6. 5
l.2

19.0
17. 7
9.9
7. 8
1. 3

18. 7
16 .e
10.2
6.6
1.9

18.7
16.0
10 .o
6.0
2 .1

42
43
44
45
46

47
48
49
50

COMMERCIAL BANKS
SHORT-TERM MARKETABLE
OTHER OIRECT
AGENCY ISSUES

61.6
19. 2
40.0
2.4

10.2
19. 2
48. 0
3.0

62. l
15.6
44.6
1.9

64.3
22 .6
39. 3
2. 3

70.l
33.1
34. l
3.0

71.4
27.3
39.B
4.4

68.8
23.8
40. 3
4.7

69. 2
27.9
35.9
5.3

66. 9
26.0
34.8
6.1

63.2
21. 2
36. l
5.9

12 .1

26.5
37. 0
9.l

75. l
28. 0
37.3
9. 8

47
lt8
49
50

51
52
53
5'4

PRIVATE NONBANK F [NANCE
SHORT-TERM MARKEURLE
OTHER DIRECT
AGENCY ISSUES

34. 3
5.,.
27 .8
1.1

35. l
6. 2
27 .8
1.1

36.l
6.3
28. 3
1.5

36 .o
7 .4
26.9
1.8

36.9
9.l
25.9
1.9

38.9
9.8
26.8
2.2

38.6
e. 3
27. 8
2.4

'40.8
9. 3
28.8
2.8

'40.7
9.0
28. 5
3. 3

41.0
10. 2
21.1
3. 8

'40.l
10.9
25.0
4.l

42.0
12. 5
23. 7
5 .8

51
52
53
54

7.6

8.6
7.8
1. 8
6. 0
.e

10.2
9.2
2.9
6.4
1.0

ll.O
9.6
2.8
6. 8
l.lt

55
56
57
58
59
61
62
63
64

l TOTAL OUTSTANDING
2 INCLUDED IN PUBLIC CERT
HOUSEHOLD SAVINGS BONDS
3
DIRECT EXC. S AVINGS BONDS
4
SHORT-TERM MARKETABLE
5
OTHER DIRECT
6
1

8

q

10
11
12

OTHER
BUDGET AGENCY ISSUES
LOAN PARTICIPATION CTFS.(11
CCC CTFS. OF INTEREST
OTHER
SPONS ORED AGENCY ISSUES (21

13 TOTAL t<ILDINGS, BY SECTOR
14
15
16
17
18
19
20

U. $.GOVERNMENT ( AGENCY SEC. l
SPONSORED CREDIT AGENCIES
DIRECT MARKETABLE
FHL B SPEC !AL ISSUE
FEDERAL RESERVE SYSTEM
SHORT-TERM MARKE TABLE
OTHER

21
22
23

FOREIGN
SHORT -TERM M ARK ETABL E
OTHER

24
25
26
27
28
29
30

PVT. DOMESTIC NJNFIN.
SAVINGS BON OS - HO USE HOLDS
DIRECT EXC. SVGS. BONDS
SHORT-TERM MARKETABLE
OTHER
AGENCY ISSUES
LOAN PARTICIPATl DNS

31
32

33

34
35
36

37

11.1

15.l
2.6

.

20.1

10.l

.1

.5

8.1

. .

37.0
28.2

e.e

1.1

312.l
279. 2
51. 5
227 .7
119.4
108. 3
32.9 1
l.9 8
9.4 9
l. l 10
8 .2 ll
21.6 12
312 .1
1 .4
2.1
2.1
.1
52.9
32.6
20.4

13

14
15
16
17
18
19
20

12.4 21
6.8 22
5.6 23

55
56
57
58
59

SVGS. ♦ LOAN ASSNS.
DIRECT
SHORT-TERM MARKETABLE
OTHER DIRECT
AGENCY ISSUES

3.6
3.2
.4
2. 8
.4

4. 2
3. 8
.6
3. 2
.4

4.9
4.5
.8
3. 7
•5

5.2
4.6
•8
3.8
.6

5.7
5.2
1. 0
4.2
.5

6.0
5.5
1.0
4.6
.5

7.0
6.'4
.9
5.5
.6

.1

B.2
7.4
1. 3
6.1
.8

60
61
62
63
64

MUTUAL SAYINGS BANKS
DIRECT
SHORT-TERM MARKETABLE
OTHER
AGENCY ISSUES

7. 9
7. 6
•5
7.l
•3

7 .6
7. 2
•5
6.7
•3

7.3
6.9
•5
6.4
.4

6.7
6.3
.6
5.6
•5

6.6
6.1
.9
5.3
•5

6. 7
6.l
.8
5 .2
.6

6.5
5.8
.9
4.9

6.2
5.4
.9
4. 5
•8

5. 7
4. 7
.1

.1

6.5
5.7
.e
'4.9
.8

3.9
1.0

5 ·"'
4.2
.9
3.3
1.2

5. 2
3.6
.e
2.1
1.6

65
66
67
68
69

LIFE INSURANCE
DIRECT
SHORT-TERM MARKETABLE
OTHER
AGENCY ISSUES

7. I
7. l
•3
6. 8
.l

7. 3
7. 2
.5
6.7

6.9
.4
6.6
.1

1.0

6.5
6.4
•3
6. l
.l

6.1
6.0
•2
5 .e
.1

6.2
6.l
.3
5. 8
.1

5.9
5.7
.2
5. 5
.1

5.6
5.4
.2
5.2
.1

5.1
5. 0
•2
4.8
•2

4. 8
4.6
•2
4. 4
.2

4.6
4.4
•3
4.1
.2

4. 5
4.Z
.4
3. 8

65
66
67
68
69

10

NONLIFE INSURANCE
DIRECT
SHORT-TERM MARKETABLE
OTHER
AGENCY ISSUES

5. 6
5. 5
1.1
4.4
.1

5. 5
5.4
.9
4.5
.1

s .e
5.6
1. 0
4. 7
.2

5.6
5.4
l. 2
4.3
•2

5.6
5 .4
1.6
3.8
•2

5.7
5.4
l.5
4.0
.3

5.9
5.6
1.6
4.0
•3

6.0
5.6
1. 3
"'· 3
.4

6.0
5.5
1. 2
4. 2
•5

5. 6
5.0
.9
4.1
.6

4.9
4.3
.9
3.4
.6

4.7
3.9
1.0
2.9

70

.1

74

11

2.5
2.4
.6
1.9
.1

2. 6
2.5
.6
1.9
.1

2. 8
2.6

78
79

PRIVATE PENSION FUNDS
DIRECT
SHORT-TERM MARKETABLE
OTHER
AGENCY ISSUES

.1

2.0
•2

2.7
2.4
.e
1.1
•3

2.8
2.5
1. 0
l.5
.3

3.1
2.1
1.2
1.6
.3

3.'4
3.0
1. 2
1. 8
.4

3.6
3.l
l.2
1.9
.5

3. 6
3.1
1.1
2.0
.5

3.1
2.6
.9
1. 7
.5

2.5
2.Z
.9
1. 3
.3

2.9
2. 5
l .z
1. 3
.4

75
76
77
78
19

80
81
82
83
8'4

S.+ L.GOVT. RTR . FU NOS
DIRECT
SHORT-TERM MARKETABLE
OTHER
AGENCY ISSUES

5. 2
5. l
•3
4.8
.1

5.l
5. 0
.2
'4.8
.1

5 .6
5 .5
•3
5.1
.1

5.9
5 .7
.4
5.3
•2

6.1
5. 8
.4
5.4

6.5
6.l
.4
5.7
.4

6.9
6.5

7 .4

7. 8
7. 3
•3
6.9
.5

e. o
7.3
.4

e.o
7.l

1.0
.1

.5

6.6
.8

8.0
6.7
.6
6. l
l .3

80

.3
6.7
.4

85
86
87
88

IDIRECTI
INVESTMENT cos.
SEC .8RKRS. + DLRS. I
I
AG. OF FGN. BANKS (
B'<S.IN TERR.+ POSS. (
I

•3
.4
1.4
.3

.6
1. 5
•3

.6
.4
l .5
.1

.6
1.0
1.1
.1

.1

l. 3
1.8
.1

2 .o
l. 8
.1

1. 5
.z

.1
.1

•8
1.4
1.9
.l

.e
1.1
l.8
.l

l.lt
1.1
l.9
.2

.9
1.0
2.5
.2

1. 1
1. 8
2.6
.2

85
86
87
88

206. 3
200.7
194.l
MEMO: HELD BY PVT. DOMESTIC
INONFINANC I Al, BANKS, A D PVT. NONBANK FINANCE l

203.l

208.8

213.5

215. l

21B.3

218.3

223.6

229. 3

71

72

73

7't

75
76

89

"
"

..

,

·"

•3

C llWHE RE NOT SHOWN SEPARATELY, LOAN PARTICIPATIONS ARE INCLUDED WITH
AGENCY ISSUES
ISSUES ARE OUTSIDE THE BUDGET
Digitized for(21THESE
FRASER
SECTOR IN F OW-OF-FUNDS ACCOUNTS.
https://fraser.stlouisfed.org
DEBT OF Fl ANC !Al INSTITUTIONS.
Federal Reserve Bank of St. Louis

AND OUTSIDE THE U.S. GOVERNMENT
THEY ARE INCLUDED IN CREDIT MARKE7

.1

·"'

6.1
.3

1.0

l.2
5.7

1.0

·"

60

71
72
73

Bl

82
83
84

242.6 89

FEBRUARY• 1970
PRIVATE SECURITIES ANO MORTGAGES

PRI VATE SECURITIES ANO MORTGAGES
PRIVATE SECURITIES ANO MORTG AG fS
I BILLIONS OF D OLLARS I

74

74

YEAR-ENO LEVE LS, l91t5-56
-·--------------------------------------------------------------·-------------·---------------------------------1950
1951
191t9
191t7
191t8
l 951t
19 56
1955
191t6
195 2
1953
19'-5
-------------------·
-------------------------------------------------------------------------------STATE ANO LOCAL GOVERNMENT SECURITIES
--------------------------------------------------------------------------------------------------

YEAR-ENO LEVELS, l 91t5-56

,.5

6

7
8
9
10
11
12
13
lit
15

l
2
3
4
5
6
7
8
9
10
11
12
13
lit
15
16
I7
18
19

4
5
6
7
8
9

10
11
12
13
14
15

TOTAL LI ABILITY
ISTATE ANO LOCAL GOV TS. I
SHORT-TERM
LONG-TERM

15.7
•3
15. 4

15. 7
.3
15.lt

17. 2
•5
16.6

19.3
•7
18 .6

21.9
.9
21.0

25.2
l.3
Zlt.O

27.lt
1.6
25.8

30.2
1. 8
28 _,.

31t.6
1. 9
32.7

lt0.6
2.0
38.6

lt5. 8
2 .1
lt3.7

lt9.6
2. 2
it7 .4

2.6
l .8
•8

2. It
1. 5
.9

2. 5
1.1t
l .O

2.6
1.4
1. 2

3.l
1. 7
1. 3

3.6
2 .o
l .5

3. 8
2. l
l. 7

4.0
2. l
1.9

2. l

lt.8
2 .5
2.lt

5.2
2.5
2.7

5.6
2. 5
3. l

13.l
7 .3
•3
lt.O
.1
•7
.2
.3

13.lt
7.4
•3
4.4
.1
.6
•2
•3

14.7
7. 8

16. 7
8.9

5 .3
.1
.6
.3
.2

5 .7
.1
.9
.5
.3

18 .8
9.6
•5
6.5
.1
l.l
•8
•3

21.7
10.1
.6
8.l
.1
l .2
1.1
.4

23.6
10.5
•7
9.2
•1
l. 2
1.1t
.4

26. 2
11. 6
.8
10.2
•3
1.1
1.9
.2

30.2
13. 7
.9
10.8
.4
1. 3
2. 6
.It
.1

35. !I
16.0
1. 0
12. 6
.6
l .8
3.4
•3
.1

40.6
19.5
l.2
12. 7
.6
2 .o
4.2
•3
.1

ltlt.O
21. 8
1 .3
12.9
.7
2. 2
lt.9
.1
.1

7
8
9
10
11
12
13
lit
15

TOTAL l lABILITIES
CORPORATE BUSINESS
FINANCE COMPANIES
COMMERC IAl BANKS
REST OF THE WORLD

26.6
23. 5
.2

27.7
24. 4
.4

30.7
27.2

--�

35. 3
31.4
l .o

38.7
3ft. 2
l.lt

39. 2
35. 7
l. 7

44.3
38.9
2. 0

49.l
43 .6
2.3

53. 8
lt7.0
3.7

57.7
50. It
lt.O

6l.7
53.3
5.lt

66.5
56.9
6.3

2. 9

2 .9

2.9

2. 9

3.2

l.7

3.lt

3.2

3. 1

3. 3

3 .o

3. 3

l
2
3
4
5

TOTAL ASSETS
HOUSEHOLDS
STATE ANO LDC Al GOVERN MENT
COMMER Cl AL BANK ING
MUTUAL SAVINGS BANKS
INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
s •• L.GOVT. R TR. FUNDS
OTHER INSURANCE COMPAN.J ES
BROKER S ANO DEALERS
I NVE STMENT cos.
BANKS IN TERR. ♦ POSS.
REST OF THE WORLD

26.6
9.6
.2
2.2
.9
12 .6
ll. 3
•7
.l
•5
•5
.1

27. 7
8. 1
.1
2. 2
1.1
14.7
13.l
.9
•2
•5

30. 7
8.1
.1
2 .2
l. 5
18. l
16.l
1.2
•2
.6
.4
.1

35. 3
7.7
•2
l.9
1.9
22. 9
20. 4
l .5
•3
•7
.4
•2

38.7
7.5
•2
2. l
2.l
25.9
22. 9
1.9
.4
•7
.6
.2

39. 2
4.9
•3
2.2
2.l
28 .9
24.8
2. 8
.6
•7
.4
•2

41t. 3
5.9
.5
2. 2
2.2
32.5
27.5
3. 5
•7
.0
•5
.3

49.l
5. 7
.6
2.l
2.5
37.0
30.6
4.5
.9
1.0
.6
.3

53. B
5.6
•6
2.t
2. 8
itl.lt
33.3
5. 6
l.4
1.1
.6
•3

57. 7
5.5
.7
1. 9
2.9
45.3
35. 3
6.9
1.9
1.1
•7
.4

61.7
6.6
•7
1.7
2.6
48.5
37. 0
7. 9
2. 5
1.2
.9
•5

66.5
7. 4
.6
l.3
2. 7
52.9
39 .2
9. 5
3.0
1.2
•7
•7

HELO BY ST.+LOC. GOVTS.
GENERAL FUNDS
RETIREMENT FUNDS
HELO 8Y OTHERS
HOUS EHOLOS
CORPORATE BUSINESS
COMMERCI Al BANKS
lt.lTUAL SAVINGS BANKS
LIFE INSURANCE COMPANIES
OTHER INSURANCE COMPANIES
BROKERS ANO DEAL ER S
BANKS I N TERR. ♦ POSS.

_,.

_,.

,._,.
2. 3

l
2
3

,.5
6

-----------------------------------·-----------------------------------------------------------CORPORATE ANO FCREIGN BONDS
---------------------------------------------·
---------------------------------------------------

.

_,.

•2

.

.

. .

6
7
8
9
10
11
12
13
14
15
16
17
18
• 3 19

. . . .

.2
.2
.z
.2
.l
•2
.5
•2
.2
•3
.3
-------------------------------------------------------------------------------------------------CORPORA TE STOCKS
--------------------------------·-------·----------------·--------------------·------

TOTAL AT MARKET VALUE
OPEN-ENO INV. co. SHARES
OTHER

119. 0
1. 3
117.7

111. 0
1. 3
109.7

109 .o
l.lt
107.6

108 .o
l .5
106.5

120. 0
3.l
116.9

146.0
3.3
142.7

170.0
3.5
166.5

186.0
3.9
182.1

179.0
lt.l
174.9

258. 0
6.1
251.9

317. 0
7. 8
309. 2

338 .o
9.0
328. 9

1
2
3

MARKET VALUE Of HO LOINGS
HOUSEHOLDS
MUTUAL SAVINGS BANKS
INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
s.+ L.GOVT. RTR. FUN OS
OTHER INSURANCE COMPANIES
FINANCE N.E.C.
OPEN-ENO INVESTMENT COS.
BROKERS ANO DEALERS
REST OF THE WORLD

119. 0
111.1
•2
3.6
1.0
.2

111.0
102.9
•2
3.8
1. 2
•3

109 .o
100.7
.1
lt.l
1.4
.4

108.0
99 .6
.2
4.3
1.4
.5

120. 0
109 .8
.2
5.3
1. 7

146.0
132.9
•2
6 .7
2.1
1.1

170. 0
155.lt
•2
7 .5
2.2
1.4

179.0
161.3

2 .3
1. 5
1.0
.5
2. 7

2.3
1.1t
1.0

2.3
l .5
1.2

z. 4
1.6
l .2

3. 3
2.9

3 .,.

2 .5

2. 3

3. 0
3.3
2.7
.6
2.5

3.9
3.4
2.9
•5
3.5

186.0
169.lt
•3
8. 1
2.lt
1. 8
.1
4. 3
3.9
3.3
.6
3. 7

258. 0
233. 7
.6
12. 5
3. 3
3. 2
.1
5. q
6.1
5.4
•7
5. 3

317.0
285.2
.7
16 .8
3.6
6.1
.1
6.9
7.8
6.9
.9
6.6

338.0
303. 8
•7
17.9
3.5
7.1
.2
7 .2
8.5
7. 9
.7
7 .o

4
5
6
7
8
9
10
11
12
13
14
15

. . . .
_,.

2. 7

_,.

_,.

.6

35. 5

9. 5
2. 6
2.4
.1
4. 5
lt.l
3.5
.6
3. 7

--·-----·--------------------------·-·---·-------------------------·-·---·---·--·------

TOTAL MORTGAGES
----·------·---------------------·l T OTAL MORTGAGE CREDIT
LIABILITIES OFSAVINGS+LOAN ASSNS.
2
u. s. GOVERNMENT
3

_,.

2.9

.

_,.

-------·---------------------------------------

ltl. 8

48.9

56 .2

62.7

72.8

82.3

91.4

101.3

113. 7

129.9

lltlt. 5

.1

•2

.2

.3

.3

.4

•5

.6

.8

.9

.9

l

PRIVATE NONFIN. SECTORS
HOUSEHOLDS
NONPROFIT INST .
BUSINESS
FARMS
NONFARM NONCORPORATE
CORPORATE

35. 5
18.0
•5
17.0
,._ 8
3.7
8.5

ltl. 7
21.8
•7
19. 2
lt.9
,._ 3
10.0

lt8. 7
26.t
.9
21.7
5.l
5.l
11.6

56.0
31. l
1. 3
23.5
5. 3
5.6
12.7

62 .4
35.2
1. 8
25. 4
5 .6
6.3
13.5

72.5
42.6
2 .4
27.6
6. l
7 .1
lit.It

81.9
t,9.7
2.9
29. 3
6.7
7.5
15.2

90.9
56. l
3 _,.
31.4
7.2
8.l
16.l

100. 7
63. 8
3.9
33.0
7.7
8.4
16.9

l12.9
72.lt
,._ 6
35. 9
0. 2
9.1
18. 5

129.0
84.6
5.2
39.2
9.0
9.8
20.3

143.6 4
95. 8 5
5 .9 6
ltl.9 7
9. 8 8
10.l 9
21.9 10

11 ASSETS OFHOUSEHOLDS
12
ST. + LOC. GOVTS.,GEN FOS.
13
u.s. GOVERNMENT
14
FNMA AND LANO BANKS
15
P VT . FINANCIAL INST.
16
COMMERCIAL BANKS
17
SAVINGS INSTITUTIONS
18
SVG. ♦ LOAN ASSNS.
19
MUT. SAVINGS BANKS
20
CREDIT UNIONS
21

35.5
12.0

ltl.8
13. 5

l.lt
1.0
21.2
4. 8
9.6
5.4
lt.2

1.0
1.0
26 .3
7.2
11.6
7.l
lt.4

lt8.9
lit. 8
.1
.9
.9
32.2
9.4
13.8
8.9
4.9

56. 2
15.9
.1
1 .o
.9
38.3
10.8
16 .2
10.3
5.8

62 .7
16.7
•2
1.5
.9
43.5
11.6
18.4
11.6
6.7
.1

72.8
17.4
.2
l. 8
1.0
52 .5
13.5
22. 0
13.7
8.3
.1

82.3
18. 3
.3
2.4
1.0
60.3
llt.6
25.6
15.6
9.9
•l

91.lt
19. 0
.4
2.9
1.1
68. 0
15.7
29.9
18.4
11.4
•l

101. 3
20. 0
•5
3. 3
1.2
76.4
16. 7
35.0
22. 0
12.9
.1

113.7
21.2
.6
3. 3
1. 3
87.3
18.lt
41. 3
26.l
15.0
.1

129.9
22.4
•7
3.6
1.6
101.7
20.8
... 9.0
31.4
17.5
.2

l41t. 5
23.9
.9
3.6
2.4
113. 7
22.5
55. 7
35.7
19.7
.2

11
12
13
14
15
16
17
18
19
20
21

13.l
12.9
.1
•1
.1
.3
•l

16.4
16.l
.1
.1
•l
.5
•l

19.7
19.3
.1
.1
.1

21.7
21.3
•l
.1
.1
.6
•l

23. 8
23. 3
.2
.2
•l
.6
.2

26.6
26. 0
•2
.2
.1

30.2
29....
.3
.3
.2
l •"
.2

1,..0
33.0
.4
.4
.2
1. 3
.2

22
23
2"
25
26
27

4
5
6
7
8

9
10

22
23
2"
25
26
27
28

INSURANCE
LIFE COMPANIES
PVT. PENSION FUNDS
ST.♦lOC. GOVT. RET.FDS.
OTHER INSURANCE
FINANCE COMPANIES
BANKS IN TERR. ♦ POSS.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

.

.

•.

6. 7
6.6

7.3
7.2

8.8
8. 1

11.0
10.8
.1

•1
.1

.1
.2

•1
.2

•1
.2
•l

•

•

•

·"

•l

•8

.2

28

FEBRUARY, 1970
PRIVATE SECURITIES AND MORTGAGES

PR IVA TE SECURITIES ANO MORTGAGES
PRIVATE SECURI Tl ES AND MORTGAGES
IBILLIONS OF OOLLARSI

75

75

YE AR-ENO LEVELS, 1957-68
---------------------------------------------------------------------------------------1966
1967
1957
1959
1958
1960
196lt
1968
1965
1961
1962
1963
---------------------------------------------------------------·
---------------STA TE ANO LOCAL GOVERNMENT SE CURI TIES
----------------------------------------------------------------------------------

YEAR-ENO LEva S, 1957-68

"

5
6
7
8
9
10
11
12

13

lit
15

1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19

l
2
3

"

5
6
7
8
9
10
11
12
13
14
15

TOTAL LIABILITY
ISTATE AND LOCAL GOVTS. I
SHORT-TERM
LONG-TERM

51t.O
2.3
51. 7

59.5
2.8
56. 7

65.6
3. 2
62.lt

7 0 .8
3.lt
67.lt

76. l
3 .6
72.lt

81.lt
3.9
77.5

87. 3
"· 3
83.0

93.0
'i.9
88. l

100.3
5.5
9lt. 8

106.0
6.2
99.9

113. 8
7.8
105.9

123. 7
9.5
lllt.2

6.1
2.6
3.5

6. 7
2.7
lt.O

1.0

7 .2
2. 7
lt.4

7.0
2 .8
4.3

6.4
2.6
3.8

5.6
2.3
3.3

5. 1
2.2
2.9

4. 8
2. 2
2.6

... 6
2. l
2.5

... 5
2.1
2.,.

4 .5
2.2
2. 3

"7.9
23.6
l �5
13.9
.7
2.lt
5 .6
•2
.1

52. 8
Zit.It
2.0
16. 5
.7
2. 7
6.2
.2
•l

58.6
27.5
2.6
17.0
•7
3. 2
7. 2
.3

63.7
30.9
2.lt
17.6
.7
3.6
B.l

69.0
32 .3
2.lt
20.3
•7
3 .9
9. l
•3

75.0
33.l
2 .1
2lt.8
.5
'i.O
9.9
.5

81.7
33.9
2. 3
30.0

87.9
35.9
2. 5
33.5

3. 9
10.6
.5
.1

3. 8
ll.O
•7
.1

95 .5
38.2
3. 0
38. 6
.3
3. 5
11.3
.5
•1

101. It
39. 8
... o
"1. 0
•3
3.1
12.6
•5
.1

109.2
37. 7
3.6
50. 0
.2
3.0
llt.l
.5
.1

119. 2
37.1
... o
59. 1
.2
3.0
15. l
.5
•1

7
8
9
10
11
12

TOTAL LIABILITIES
CORPORATE BUSINESS
FINANCE COMPANIES
COMMERCIAL BANKS
REST OF THE WORLD

H.O
63.2
7. 1

80. 7
68.9
7. 2

85. 1
71.9
8 .3

90.8
75.3
9 .9

96.5
eo.o
10.it

102 ...
81t.5
10. 7

lt.5

lt.9

5.6

6.2

7 .2

116.6
92.lt
llt.3
.8
9.2

125. 7
97. 8
16. l
1.6
10. 2

137.2
108. 0
16. 9
1. 7
10. 5

153. It
122.7
17.9
2. 0
10.8

168.3
135. 6
18.8
2. 2
ll.7

l
2
3

3. 7

109.0
88 ·"
12.2
.2
8.2

TOTAL ASSETS
HOUSEHOLDS
STAT E ANO LOCAL GOVERNMENT
COMMERC !AL BANKING
MUTUAL SAVIN GS BANKS
INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUl'«lS
S.+ L.GOVT. RTR. FUNDS
OTHER INSURANCE COMP AN IE S
BROKERS ANO DEALERS
INVESTMENT COS.
BANKS IN TERR. + POSS.
REST OF THE WORLD

7lt.O
8. 5
.6
l.lt
3. 2
58. 3
ltl .8
11.3
3. 8
1. ..

80. 7
9. 5
.9
1.3
3. 8
63. 3
4lt. 3
12.8
4.6
1. 5
.5
.9

85. l
9.4
.9
1. 2
3 .6
67. 7
lt6. 5
llt.l
5 .5
1.6
.5
1.1

90 .e
9 .8
1.5
1. 0
3.8
72.3
lt8.2
15. 7
6.7
1.7
.5
1.2

96. 5
10 ...
l.3
.9
3.6
77 .8
50.7
16.9
8.5
1.7
•3
1.6

102.4
9.7
1.8
.8
3.5
83. 8
53.2
18.l
10.4
2. l
.4
l.6

109.0
9.2
2.8
.8
3.2
89.9
56.0
19.6
12.3
2. 0
.6
1.8

116.6
9. 3
3. 8
.9
3. l
96. 1
58. 3
21.2
1".2
2.lt
•5
2. 1

125.7
10.6
4.5
.8
2.9
103. 1
61. 1
22. 7
16.3
3.0
.5
2. t:

137.2
12. 3
5.6
.9
3.2
110. 5
63 .5
2lt.6
18. 9
3.6
.6
2. 9

151.lt
15. 5
7.1
l .6
5. 3
119.lt
67. 3
25.5
22.3
...3
.6
3 .o

168. 3
20. 3
7.6
1.9
6 .6
127. It
.11.1
26 . 2
Zit .7
5. 5
.1
3. 4

6
7
8
9
10

HELO BY ST.+l.OC. OOVTS.
GENERAL FUNDS
RETIREMENT FUNDS
HELD 8 Y OTHERS
HOUSEHOLDS
CORPORATE BUSINESS
COMMERCl AL BANKS
MUTUAL SAVINGS BANKS
LIFE INSURANCE COMP ANI ES
OTHER INSURANCE COMPANIES
BROKERS ANO DEALERS
BANKS IN TERR. ♦ POSS.

2. 7
lt.3

...

...

...

6

13

lit
15

--------------·--------------·---------------------------------------·---------------------------CORPORATE ANO FOREIGN BONDS
--·---------------------------------------------------·--· -------------

.... . . . . .
.1

•8

. . .

.

.

4

5

.tl

12

13

lit
15
16
17
18
. 9 19

.6
.6
1. 3
•5
.5
•7
•7
.9
.9
•7
--------------------------------------------------------CORPORATE STOCKS
--------------------------------------------------------------------------------------------

TOTAL AT MARKET VALUE
OPEN-ENO INV. CO. SHARES
OTHER

299.0

e. 1

290.3

MARKET VALUE OF HOLDINGS
HOUSEHOLDS
MUTUAL SAYINGS BANKS
INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S.+ L.GOVT. R TR. FUNDS
OTHER INSURANCE COMPANIE S
FINANCE N.E.C.
OPEN-ENO INVESTMENT cos.
BROKERS ANO DEALERS
RE ST OF THE WORLD

299.0
266.2
•8
17.8
3.lt
7.5
•2
6. 7
8. 2
7.lt

.1

418.0
13.2
lt04. 7

,.5 ...0
15 .8
lt38.2

lt51.0
11.0
43lt .o

571t.O
22.9
551. 1

505.7
21.3
lt84.4

597.0
25.2
571.8

684. l
27. 2
656.9

778.0
35. 2
7"2.8

700. 7
3lt.8
665. 9

889.6
,.,._ 7
8lt4.9

1035 .8
, 5 2.7
983.2

418. 0
372.lt
.9
Zit. 3
It. l
11.6
.3
8 ...
12. 1
11. 7
.5
8.3

lt5lt.0
lt00 .8
.8
28.6
lt.6
14 .5
•3
9.1
14 .4
13.9
.5
9.lt

lt5l.O
39lt. 2
.8
31.3
s.o
16.5

574.0
499.3
.9
ltl.5
6.3
22.9
.6
11.8
20. 6
20.3
.3
11.8

505.7
lt35.lt
1.0
ltO.l
6.3
21.9
.8
11.l
18.8
18.3
10.3

597. 0
512.0
1.2
lt8. 7
7.1
27. 7
1.0
13.0
22.6
22. 1
.6
12.s

68lt.l
587 . ..
1 .3
57. 5
7.9
33.5
1. 3
14. 7
Zit. 1
23. 7
•5
13.8

778.0
664. 9
1.4
65. 7
9.1
39.7
1.6
15. 3
31.lt
30.9
.5
llt.6

700. 7
594. 0
l. 5
63. l
8. 8
38. 5
2. 1
13. 8
29. 5
28.9
.6
12. t

889.6
750.9
1. 7
81.8
ll.8
lt9.5
2.8
17 .7
39. 8
39.2
.6
15. 5

1035 .8 4
873 .2 5
1.9 6
95.0 7
13.2 8
59.6 9
It.l 10
18. 1 11
46 .2 12
46.1 13
. 1, 14
19.5 15

...

9.lt
15. 3
lit. 8
.5
9 .3

----·-6.1
---------------------------

·"

l
2
3

----------·----------·--------------------------------------·----------------

TOT Al MORTGAGES

156.5

171.8

190. 8

206.8

226.2

2lt8.6

274.3

300.1

325. 8

347.lt

370.2

.9
.1

1.2
•5

1.3
.8

l.2
1.3

1.6
1 .5

2.0
1.7

2. 5
1. 8

2. 2
1.8

2.2
1.8

1.3
1.8

2.3
1. 7

PRIVATE NONF IN• SECTORS
HOOSEHOLDS
NONPROFIT INST.
BUS !NESS
FARMS
NONFARM NONCORPORATE
CORPORATE

155.6
104. 6
6.7
,.,._ 3
10.lt
10.lt
23.6

170.1
113.lt
7. 5
,.9.2
11.1
11.6
26. 5

188.7
126.0
8.3
54.lt
12 •1
12.8
29.5

20lt.lt
136 .8
9.2
58.5
12.8
13 .6
32. 0

2ltlt.9
223.2
lit 7. 7 , 160.lt
10.1 ' - 11.0
73.5
65.lt
15.2
13.9
17.8
15.6
lt0.5
36.0

269.9
175. l
12.0
82.8
16.8
20.6
lt5.lt

296.l
191.l
13.1
91.9
18.9
24.0
lt9.0

321. 7
206.lt
1...2
101.1
21. 2
27.l
52.8

3lt4. 4
219. 0
15.5
109.9
23. 3
29.5
57. 1

3.66.3
229.lt
16. 7
120.2
25. 5
33.2
61.6

393 ...
2... ... 1 5
17.8 6
131. " 7
27.5 8
36.6 9
67. 3 10

11 ASSETS OFHClJSEHOLOS
12
ST.+Loe. GOVTS•, GEN FDS.
13
14
u.s. GOVERNMENT
FNMA ANO LANO BANKS
15
PVT• ·FINANCIAL INST•
16
COMMERC Ill BANKS
17
SAVINGS INSTITUTIONS
111
SVG. + LOAN ASSNS•
19
MUT. SAVINGS BANKS
20
CREDIT UN IONS
21

156.5
25.8
1.0
3.9
3.6
122.2
23.l
61.4
ltO.O
21.2
.3

171.8
28. 1
1.1
4. 3
3. 5
lllt.8
25. 3
69.2
lt5.6
23. 3
.3

190.8
29.9
1.4
5.6
4.4
149.6
28. 1
78.5
53. l
25.0
.3

206.8
31 .8
1.3
5.8
5.5
162.5
28.7
87 ...
60. 1
26.9

226.2
33.5
2.0
6.1
5.7
1711 .9
30.3
98.4
68.8
29.1
.4

2lt8.6
3lt.5
2.1
6.3
5.9
199.9
34.3
111.5
78. 8
32.3
.5

27lt.3
34. 8
2.2
5.8
5.4
226. l
39.2
127.7
90.9
36.2
.5

300.1
35. 1
2.2
5. 7
5.7
251.,.
lt3. 7
llt2.lt
101.3
40.6
.5

325. 8
]lt.3
2.1
5.6
6.8
276.9
49.3
155.5
110.3
.....6
.6

3lt7.lt
35.8
2.1
6.lt
9.lt
293. 8
53.9
162.lt
lllt.lt
lt7.3
.6

370.2
36. 7
2.2
7.3
11.1
312.9
511.5
173.0
121.8
50. 5
.7

397.5
38.lt
2.3
8.1t
13.3
335.1
65.2
18".9
130.8
53.5

36.5
35.2
.6
.5
.2
.9
.2

38. 7
37. 1
•7
.7
.2
1 ...
.3

ltl.3
39.2
1.0
1.0
•1
1.6

4lt.7
41.8
1. 3
1.5
•1
1.6
.1

,.7.8
4lt.2
1.6
1.9
.2
2.2
•1

51.2
lt6.9
1.9
2.2
.1
2 .7
•2

55.5
50.5
2.2
2.6
.1
3.5
.2

61. 1
55.2
2.7
3.l
.1
3.9
.3

67.2
60.0
3. 3
3.7
•1
4.5

73.1
6lt.6
3. 8
4.5
•1
3.9

76.6
67.5
3.9
5. 0
.2
.. .3
.5

1 TOTAL MORTGAGE CREDIT
LIABILITIES OFSAVINGS+LOAN ASSNS.
u.s. GOVERNMENT
4

5

6
7
II
9
10

22
23
24
25
26
27

211

INSURANCE
LIFE COMPANIES
PVT. PENSION FUNDS
ST.+LOC. GOVT• RET .FDS•
OTHER INSURANCE
FINANCE COMPANIES
BANKS IN TERR. + POSS.


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

•i

...

...

...

397. 5
2.lt
1. 7.

l

,.

11
12

13

1•
15
16
17
18
19
20
.1 21

79.5 22
10.0 23
3.9 2"
25
.2 26
4.9 27
.5 28

'·"

FEBRUARY, 1970
HORT GAGES, BY TYPE

MORTGAG ES, BY TYPE
MORTGAGE HARKE TS BY TYPE OF HORTGAGE
(BILLIONS OF DOLLARS I

76

YEAR-ENO LEVELS, 1945-56

------------------------------------------------------------------------------------1946
1949
1948
1945
1947
1950
1951
1952
1953
1955
1956
1954
----------------------------------------------------------------HOME MORTGAGES
------------------------------------------28 .2
26.1
1.0
1 .o

33.3
31.1
1.0
1.0

37.6
35.2
1.1
1.1

45.2
42.6
1.1
1.1

51. 7
49.7
.8

.1

.2

.3

.3

.4

•5

.6

•8

.9

.9

18.6
5.4

23.0
6.1

.9

.

.2

•7

28 .2
6.6
.1
.6

33. 3
7.1
.1
•7

37.6
7. 3
.2
1.2

45.2
7.5
.2
1.5

51. 7
7. 7
.3
2. 1

58 .5
7.9
.4
2. 5

66. l
8. 3
•5
2. 8

75. 7
8. 1
.6
2. A

2.9
7.1
5.2
1.9

4.6
8.9
6. 8
2. 0

6.3
10.8
8.5
2.3

7.3
12. 7
9.8
2 .8

7.9
14.5
11.1
3.4
.1

9.4
17.5
13.1
4.3
.1

10.2
20. 3
14.8
5. 3
.1

11.1
24.0
17.6
6.2
.1

11.9
28. 5
21.0
7. 4
.1

13. 2
34.2
25. 0
9. 0
.1

88.2
8.8
•7
2.9
.1
14.9
41.3
30. 0
11.1
.2

99.0
9.3
•9
2.9
.6
16.1
47. 2
34.0
13.0
•2

9
10
11
12
13
14
15
16

2. 3
2.3

.

2.6
2.5

3.5
3.5

.1

.2

•2

5.0
4.9
.1
.2
.1

6.2
6.1
.1
•3
.1

8.6
8. 5
•1
.5
.1

10.7
10.6
.1
.4
.1

11.9
11.8
.1
.6
.1

13. 4
13. 2
•2
.6
.1

15.4
15. 2
.2
•8
.1

18.0
1 7.7
•3
1.4
.1

20.6
20.1
.4
1. 3
.2

17
18
19
20
21

5.7
2.9
2. II

6.1
3. l
3.0

6.6
3.3
3 .3

7.5
3.8
3. 7

8.6
4.3
4.3

10.1
5 .1
5. 0

11.5
5.8
5. 7

12. 3
6.2
6 .1

12. 9
6. 5
6. 5

13.5
6. 8
6. 7

14.3
7.2
7.1

14.9
7. 4
7.4

5.7
2.2

6.1
2. 3

6.6
2.6

7.5
2. 8

8.6
3.1

10.1
3 .5

11.5
3.7
.1

12.3
3. 8
.1

12.9
3. 9
•2

13. 5
4.0
•3

14.3
4.2
.4

14.9
4.2
.4

.5
1.6
1. 5
•l

.6
1.7
1.6

.6
1.8
1.7
.2

•7
2.1
1.9
•2

•7
2.4
2. 2
.2

1.0
3.0
2. 7
•2

1.0
3.6
3. 3
.3

.9
4.0
3. 7
•3

.9
4. 4
4.0
.4

.9
4. 7
4. 2
•5

5 .1
4.5
.6

.8

•8
5. 5
4. 7
•8

TOTAL LIABILITIES
HOUSEHOLDS
NONFARH NONCORP. BUSINESS
CORPORATE BUSINESS
u.s. GOVERNMENT
SAVINGS AND LOAN ASSNS.

18.6
18.0
.3
•3

14
15
16

TOTAL ASSETS
HOUSEHOLDS
STATE ANO LOCAL GOVERNH ENTS
u.s. GOVERNMENT
FED. NAT. HTG. ASSN.
COMMERCIAL BANKING
SAVINGS INSTITUTIONS
SAVINGS AND LOAN ASSNS.
HUTU AL SAVINGS BANKS
CREDIT UNIONS

17
18
19
20
21

INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
FINANCE COMPANIES
BANKS IN TERR. + POSS.

l
2
3

4

5

6

7
8

9
10
11
12
13

I TOTAL LIABILITIES

2

3

76

YEAR-END LEVELS, 1945-56

CORPORATE BUSINESS
NONFARH NONCORP. BUSINESS

4 TOTAL ASSETS
HOUSEi-OLDS
5
6
u.s. GOVERNMENT
7
FED. NAT. HTG. ASSN.
COMMERCIAL BANKS
8
SAVINGS INSTITUTIONS
9
HUTU AL SAVINGS BANKS
10
SAVINGS ANO LOAN ASSNS.
ll

23. 0
21. 8
.6

.6

.

.8

58.5
56.1
.9
.9

66.l
63.8
.9
.9

75. 7
72.4
1. 2
1. 2

88.2
84.6
1.4
1.4

99.0
95. 8
1. 2
1.2

l
2
3
4
5
6
7
8

---------------------·------------------·-----------HULTI-FAHILY RESIDENT IAl HORTGAGES
----------------------------------------------------------------------------------

LIF E INSURANCE cos.
S.+L.GOVT. P ENS. FUNDS

1.4

1 TOTAL LIABILITIES
HOUSEtOL OS
2
CORPORATE BUSINESS
3
NONFARH NONCORP. IIUSINESS
4

.1

4
5
6
7
8
9
10
11

•
•2
.1
.1
.4 13
•3
.1
.l
•2
-------------------------------------------------------------------------•--COHHERCI AL MORTGAGES
------------------------------------------------------------------------------1 .5

l.6

1 .e

2. 3

2.6

3.0

3. 3

3. 4

3.4

3 .6

6.4
.5
5.4
.6

7.7
•7
6.4
•7

9.1
7.3
.8

10.2
1. 3
7 .9
.9

10.8
1. 8
8.1
.9

ll.5
2.4
8.2
.9

12.5
2 .9
8.6
1.0

13.4
3.lt
9 .o
1.0

1".5
3. 9
9. 5
1.1

16.3
4.6
1 o. 5
1.2

18.3
5.2
11.e
1.3

20. 7
5 ·"
13.lt
1. 5

1
2
3
4

5 TOTAL ASSETS
6
HaJSEHOLDS
u.s. GOVERNMENT
COMHERC JAL BANKS
9
SAVINGS INSTITUTIONS
MUTUAL SAVINGS BANKS
10
SAVINGS ANO LOAN ASSNS.
11

6.4
2.4

7.7
2.ci

9.l
3.5

10.2
3 .8

10. 8
3.9

11.5
3. 9

12 .5
4.0

13.4
4.2

14. 5
4.5

16. 3
5. 1

18 .3
5. 7

20. 7
6.4

.9

1.4
1.0

1. 7
1•l

.2

.9

.2

1. 3
1.0
.3

2.0
1.4
1.1
.3

2 .2
1.5
1.2
•3

2.4
1.7
1. 3
.4

2.6
1.9
l.4
.4

z. 8
2.1
1.6
.5

3.2
2.4
1. 7
.6

3.8
2.6
1. 8
.8

5
6
7

4. 3 8
3.0 9
2.o 10
1.0 11

LIFE INSURANCE COMl'ANIES
OTHER INSURANCE COMPANIES
IANKS IN TERR. ♦ POSS.

z. 2
•l

2.3
•l

2 .7
•l

3.1
.1

3.4
.1

3.7
•1

4. l
.1

4.5
•1

4.9
.1

5.4

6.0
.2

6 .8 12
.2 13
.1 14

12

13

•

7

12
13

14

•

.9
.11
.1

•

.

.e

.9

.

•

•
1.9

.

. . . .

.

cw

FARMS

ASSETS Of'HOUSEHOLDS
u.s. GOVER NMENT
FED. LAND IANllS
4
COMIIERCI._ IANltS
5
IUTUAL SAVINGS HNltS
7
LIFI INSURANCE COMl'MtlE S

2
3

•


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.. .. •..
•.. •

. .

.
-----------------------------------------------------

FAllH MORTGAGES

l TOT._ LtAIIILITY

3.6 12

.1

----------------------------------------------·-----

4.8

4.9

5.1

5. 3

5.6

6.1

6.7

7 .2

7. 7

e. 2

9.0

9.11

1

1.9
.5
1.0

2.1
.4

2.1
.3

z.3
.3

2 .3
.3
.9

2.5
.3

l .O

1.0

2. II
.3
1.0
1.0

1.3

1. 5

3.4
.3
1. 3
1.2
•1
2.0

3.6
.3
1.5
1.3
•1
2.3

3
4

1.1

3.2
.3
1. 2
1.1
•1
1.9

3.9
.3
1. 7
1.3

1.0

3.1
.3
1 .1
1 •1
•1
1. 7

..

.,•

1.0
•7

•••

•

•

•l

z. 5

2

5

6
l

FEBRUARY, 1970
"ORTGAGES, BY TYPE

l'!ORTG,C.ES, IIY TYPE
l!ORTGAGE MARKETS BY TYPE OF "ORTGAGE
I BILLIONS OF OOLLARSI

77

77

-----------------------------------------------------------------------------------------------------------------------1957
1958
1966
1959
1961
1967
1962
1965
1960
1963
1964
1968
------------------------------------------------------------------------------------------------HOME MORTGAGES
-----------------------------------------------------------------------------------------------

YEAR-ENO L EVELS, 1957-68

1
2
3
4
5
6

YEAR-ENO LEVELS, 1957-611

TOTAL l lABILITIES
HO USEHOLDS
NONFARM NON CORP. BUSINESS
CORPORATE BUSINESS
u. s. GOVERNMENT
SAVINGS ANO LOAN ASSNS.

107.6
104.6
1.0
1.0
.1
•9

117.7
113.4
l. 3
1. 3
•5
1. 2

130.9
126 .o
1.4
1.4
.8
l. 3

141.3
136 .0
1.0
1.0
l. 3
l. 2

153.0
147. 7
1.1
1.1
l. 5
1.6

166.5
160.4
l .2
1. 2
l. 7
2. 0

182 .2
175.l
1.4
1.4
l.8
2. 5

197. 6
191.l
1.2
1. 2
1.8
2.2

212. 9
206.4
1. 3
1. 3
1. 8
2.2

223.6
219. 0
.8
•B
l. B
1. 3

236.1
229.4
1.4
1.4
1.1
2.3

251.2
244 .1
1.5
1. 5
1.1

1
2
3
4
5
6

TOTAL ASSETS
HOUSEHOLDS
ST ATE AND LOCAL GOVERNMENTS
u.s. GOVERNMENT
FEO. NAT. MTG. ASSN.
COMMERCIAL BANK ING
SAVINGS INSTITUTIONS
SAVINGS AND LOAN ASSNS.
MUTUAL SAVINGS BANKS
CREDIT UN IONS

l07.6
I 0.2
1. 0
3.l
1.6
16. 2
52.4
38.0
14.l
•3

I 17.7
11. 0
1.1
3. 3
1.4
17.4
58. 8
42.9
I 5.6
•3

130.9
11 .1
1.4
4. 2
2.1
19. I
66. 8
49 .5
16.9
.3

141. 3
ll. 7
l. 3
4.2
2. 9
19 .2
74.l
55 .4
18 .4
.4

153.0
11.4
2.0
4.4
2.9
20 .o
82 .8
62.4
20.0
.4

166.5
11.5
2.l
4.5
2 .8
22. 0
92.4
69. 8
22.l
.5

182.2
11.6
2.2
4.1
2.l
24. 7
104. 3
79.l
24.7
•5

197.6
11.9
2 .2
4. 0
2. 0
27.0
115. l
87. 2
27.4
.5

212. 9
11. 8
2.1
3.9
2. 5
30. l
124.9
94.2
30.l
.6

223.6
12.2
2. l
4.5
4.4
32. o;
129.7
97.4
31. 7
.6

236.l
12.4
2.2
5.2
5 .5
34. 9
137.5
103.3
33.5

251.2

7
8
9
10
11
12
13

INSURANCE
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
F !NANCE COMPANIES
BANKS IN TERR. + POSS.

22.0
21.4
.6
.9
•2

23. l
22.4

24. 6
23 .6
1.0
1.6
.1

26. 2
24.9
1.3
1.6
.1

27. 2
25.6
1.6
2 .2
.1

28. 3
26.4
l.9

29.6
27 .3
2.2
3.5
•2

31. 3
28.5
2. 7
3.9
.2

32. 9
29. 6
3.3
4. 5
•3

34.0
30. 2
3. 8
3.9
•3

15. 3
7.7

1. 1

16. 8
8.4
8.4

18. 7
9. 3
9. 3

20.3
10.l
10. 2

23.0
11.2
11.8

25. 8
12.2
13.6

29. 0
13.2
15.8

33.6
14.5
19.l

37.2
15.3
21. 8

40. 3
16.l
24. 2

43. 9
16. 9

21.0

47. 3
17.6
29. 7

15. 3
4.2
.5

16. 8
4. 5
.6

18. 7
4.7
.9

20.3
4.8
l .0

23.0
5.2
1.1

25.8
5.0
1.1

29.0
4.6
1.1

33.6
4. 3
l. 0

37.2
3.4
l. 0

40. 3
2. 9
1. 3

43.9
2.6
l .5

47. 3
2.4
1.9

.8
5.8
4.9
.9

1.0
6. 5
5. 3
1.2

1.1
7. 3
5 .6
l.7

1.1
8. l
5.9
2. 2

l. 2
9.4
6.3
3.l

1.4
11.4
4.3

1.6
13.8
8.o
5.8

l. 7
16.2
9.l
7.l

2. 0
18. 2
l 0.0
8.1

2. l
19.2
10.6
0. 6

2.4
20.7
11.2
9. 5

22.2
11.7
10.5

3. 6

3.5

3. 7

3. 8

4.3

4.7

5. 3

7. 2

8. 8

10. 3

11.7

12.8 12

HOUSEHOLDS
CORPORATE BUSINESS
NCNFARM NON CORP. BUSINESS

23.2
6. 7
14. 8
1. 7

26.l
7. 5
16.8
l. 9

29.2
8. 3
18 .8
2.l

32 .4
9.2
20.9
2 .3

36.4
10. l
23. 6
2.6

41.l
11.0
27.l
3.0

46.2
12.0
30.8
3.4

50. 0
13.l
33.3
3. 7

54.5
14.2
36. 2
4.0

60. l
15. 5
40. 2
4. 5

64.8
16. 7
43 .3
4. 8

71.4
17.8
48. 2
5.4

5 TOTAL ASSETS
HOUSEHOLDS
6
7
u.s. GOVERNMENT
COMMERCIAL BANKS
I!
9
SAVINGS INSTITUTIONS
MUTUAL SAVINGS BANKS
10
SAVINGS ANO LOAN ASSN S.
11

23.2
7.3
.l
4.8
3.2
2.1
1.1

26.l
A. 2
.1
5.4
3.8
2.3
1.5

29. 2
9.2

32. 4
10. 3

36.4
11.5

41.l
11.9

46.2
11.8

50.0
11.3

54.5
10. 7

60. l
11.3

64 .8
11.5

71.4
11.7

6.2
4.4
2.5
2.0

6.8
5.l
2 .6
2. 5

7 .4
6.1
2.8
3 .4

8.9
7 .0
3.l
4.7

10.6
9.5
3.5
6.l

l 2. 3
11.1
4 .o
7.l

14. 3
12.4
4. 5
8.0

16. 3
13.4
5. C
8. 4

17.8
14.7
5.7
9.0

20.4
16.6
6.6
10.0

LIFE INSURANCE COMPANl�S
CT HER INSURANCE COMPANIES
BANKS IN TERR. + POSS.

7. 7
•2
.1

8. 5
•2
.l

9.l
.1

10 .o
.l

11.0
•2

12 .4
.1
.1

14.l
.1
.1

15. l
.1
.1

16. e
.l
.l

18. 8
.l
.l

20.5
•2
.1

22 .4 12
.2 13
.1 14

7
8
9
10
11
12
13
14
15

16
17
18

19

20
21

l T OTAL LI ABILi Tl ES

2
3

CORPORATE BUSINESS
NON FARM NONCORP. BUSINESS

4 TOTAL ASSETS
HOUSEHOLDS
5
6
u.s. GOVERNMENT
7
FED. NAT. MTG. ASSN.
II
COMMERC !AL BANKS
9
SAV INGS INST !TUT IONS
MUTUAL SA VINGS BANKS
10
SAVINGS AND LOAN ASS NS.
11
12
13

LIFE INSUR A NC E cos.
S. +l. GOVT. PENS.FUNDS

l T OTAL LIABILITIES

2
3

12
13
14

•

1

1.4

2.1

.1

n.1

29.8
3.9
4.3
.4

2.4

13.l

2.3
6.0
7. 2
38.3
146. 0
110.3
35. 0
.1

14
15

16

17
18
19
20
.4 21

32.9
29.0
3.9
4. 9

•2
.l
-----------------------------------------------------------------------------------------------MULTI-FAMILY RESIOENTI AL MORTGAGFS
------------------------------------·--------------------------------------------------------------

1.0

.

2.1

4
5
6
7
8
9
10
11

•5
1.0
3.l
1.5
1.9
2.2
2.6
3. 7
4. 5
5. 0
5.4 13
-------------------------------------------------------------------------------------------------COMMERCI Al "ORT GAGES
--------------------------------------------------------------------------------------------------.1

.

.

.

.

4
5
6
7
8
9
10
11

-------------------------------------------------------------------------------------------------FARM "ORT G AGES

--------------------------------------------------------------------------------------------------l TOTAL L IABILITV OF FARMS
2

'3

4

5

6

1

ASSETS OFHOUSEHOLDS
u.s. GOVERNMENT
FEO. LANO BANKS
COMMERCI M. BANKS
MUTUAL SAVINGS BANKS
LIFE INSURANCE CO"PANIES


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

10.4

11.1

12. l

12. 8

13.9

15 .2

16.ij

1e. 9

21. 2

23. 3

25 .5

27 . 5

4. 2
.3
1.9
1.4
.l
2.6

4. 5
.4
2 .1
1. 5
.1
2. 7

4.9
.4
2.4
1.6
.1
2.8

5.l
.5
2. 6
1.6
.l
3.0

5 .4
.5
2. 8
1. 7
.1
3.3

6.l

6. 7
•6
3.3
2. 3
.1
3.8

7.6
.6
3.7
2 .6
.1
4.3

8.5
.6
4. 3
2.9
.1
4.8

9. 3
.6
5. 0
3.1
.l
5.2

10. 2

11.2

5 .6
3.4
.l
5.6

3 .8
.l
5. 8

.b

3.l
2.0
.1
3 .4

•5

.5
6.1

l

FEIIRUAII.Y, 1970
CONSU,.ER CRE01T AND BANK LOANS N.E.C.

CDNSU..ER CREDIT AND BANK LOANS N.E.C.

CONSU"'ER CREDIT AND BANK LOANS NOT ELSEWHERE CLASSIFIED
CBILLI ONS OF DOLLARS I

78

-------------

Y EAR-END l EVEl S, 19't5-56'

l9't5
----------

191t6

-------------------------------------------------------------------------------------------------·--· -----------YEAR-END LEVELS, l9't5-56

19't7

l9't8

19't9

1950

1951

1952

1953

195't

1955

1956

27.5
19.'t
8.1

31.'t
23.0
8.'t

32. 5
23.6
8.9

38.B
28. 9
9.9

lt2.3
31.7
10. 6

27.5

1.0
7.1

31. It
23.0
1.0
3. 1
9.0
1.3
8.6

32. 5
23.6
.9
3.2
8.8
1.6
9.1

38.B
28. 9
.9
3.6
10.6
2.0
11.8

lt2 .3
31. 7 5
1.0 6
3.9 7
11.8 8
2.'t 9
12. 7 1 0

B •1
3.1
3.0
1.8
.2

8.'t
3.2
3. 1
1.9
.2

8.9
3.3
3.2
2.1
•2

9.9
3.5
3.5
2.6
.3

10.6 11
3.B 12
3. 7 13
2 .8 lit
.3 15

CONSU..ER CREDIT

1
2
3

TOTAL LIABILITIES I HOUSEHOLDS
INST Al"ENT CREDIT
NONINSTAL,.ENT CREDIT

5.7
2. 5
3.2

B.'t
't.2
't.2

11.6
6.7
't.9

lit.It
9.0
5.5

17.'t
11.6
5.8

21.5
lit. 7
6.8

22.7
15.3
7.'t

5
6
7
8
9
10

TOTAL ASSETS
INSTAL,.ENT CREDIT
NONFAR" NONCORP • BUSINESS
CORPORATE BUSINESS
CO"" ERC JAL BANKING
SAVINGS INSTITUTIONS
FINANCE CO"'PANIES

5. 7
2. 5
•2
.5
•7
.1
.9

8.1t
't.2
.2
•7
1.6
.2
1. 5

11.6
6. 7
.3
1•1
2.6
.3
2.'t

lit.It
9 .0
.5
l.'t
3. 5

17.'t
11.6
.6
1.8

21.5
lft.7
•7
2 .2
5.8

3.2

't.3

5. 3

22.7
15.3
•7
2.'t
5.8
•B
5.6

NONINSTAL"'ENT CREDIT
NONFAR"' NONCORP • BUSINESS
CORPORATE BUSINESS
CO"'"' ERCIAL BANK ING
SAVINGS INSTITUTIONS

3.2
1. 3
1.2
.7

't.2
1.6
1. 5
1.0
.1

't.9
1.9
1. 8
1 .2
.1

5 .5
2.1
2. 0
l. 3
.1

5.8
2 .2
2.1
1.3
.1

6. 8
2.6
2.'t
1.6
.2

7.lt
2.9
2.7
1.7
.2

,.

11

12
13
1ft
15

--------------------

BANK
------------

2
3

,.

5
6
7
8
9
10

11

12

T OTAL BANK LOANS AT co"'"'ERCUL
BANKS, F/F BASIS
LESS CLASSIFIED T Y PES
"'ORTGAGES
CONSU"'ER CREDIT
SECU RITY CREDIT
OTHER LOANS
FINANCE
PAPER
OTHER co"'"'ERC UL PAPER
ACCEPTANCES
HYPOTHECATED DEPOSITS
EQUALS BANK LOANS N.E.c.
ADD- LOANS FROM FED. RES. BAN
TOTAL BANK LOANS N.E.C.

co.

13 T OTAL ll ABill Tl ES

lit
15
16
17

18

19
20

HOUSEHOLDS
FAR"' BUS I NESS
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
SVGS. ANO LOAN ASSNS.
FINANCE COMPANIES
REST OF THE l«lRLD


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

78

·"

,._,..5

•7

---------------

LOANS NOT ELSEWHERE CLASSIFIED

19.'t
.9
2.9

7 .5

,.

--------------------------------------------

25.9

31. 3

38.2

"1.8

't2.l

51.9

57. 5

6't.'t

66.3

69. 3

82.6

90.8

l

,._ 8
l.ft
6.8
.3

9.'t
3.B
2. l
.6
.1
.2
.2
.1
22.2
.1
22.3

10.8
't.8
2. 3
.7
•1
.2
.1
.2
23.2
•2
23.'t

11.6
5.8
2 .6
.7
.2
.2
.1
.2
21.'t
.1
21.5

13.5
7.'t
2.9
1.0
.3
.2
.2
.3
27.2

llt.6
7. 5
2.6
l.ft
.5
.3
•2

15.7
9.ft
3.2
1.6
•7

16.7
10.9
3.6
1.6
.6

22 .5
lft.6
"· 3
1.5
.3

2
3

31.5

H.5

33.5

.2
.5
't2.l

•2
.6
't7.9

27. 2

31.5

31t. 6

33.6

18. It
10.9
lt.5
1.6
.3
.5
.3
•5
33.9
•1
3't.1

20.8
13.2
5.0
t.ft
.3

12.6

7.2
2.6
3.2
.5
.1
.2
.2
.1
l 7. 9
.1
18. l

't2.l

'tB.O

12.6
2.7
1.0
.5
7. 5
.1
.2
.5

18. l
3.0
1.3
l.l
11.3
.1
.5
.8

22. 3
3. l
1.6
l .5
lft.l
.1
.8
1.0

23 ·"
3.2
1.9
1. 2
14.6
.1
1.3
l. l

21.5
3.l
2.0
1.0
12.6
.1
1.7
.9

27. 2
3 .8
2.5
l.ft
16.0
.1
2.6
•7

31.5
3.2
3. l
1. 7
20. 2
.1
2.lt
.8

H.6
3.5
3. 3
l.B
22.0
.1
3. l
.8

33.6
3.7
2. 7
1. 8
21.6
.1
3. 0
•7

H. l
lt.l
2.9
1. 9
20.9
.1
3.2
1. 0

.

.1
.1
.1
12. 6

.

·"
•

·"
·"

.

.2

_,.

·"
•
•2

·"
•

"·"

lt2.l

3.'t
2.4
Z't.9
.1
5.5
1.4

·"

•

lt8.0
- 4. 8
3.lt
2.7
30. 2
•1
5.0
1.8

,.

5
6
7
8
9
10
11
12
13

1ft

15
16
17
18
19
20

FEBRUARY, 1970
CONSUMER CREOIT ANO BANI< LOANS N.E.C.

CONSUl'IER CREDIT ANO BANK LOANS N.E .C.

CONSUMER CREOIT ANO BANK LOANS NOT ELSEWHERE CLASSIFIEO
I BILLIONS OF DOLLARS I

79
YEAR-ENO LEV ELS, 1957-68
-------------------------

1957

-------------------1958

------------

1959

1960

79

1957-68
----·-----·------------------------------------------YEAR-ENO LEVE LS,

1961

1962

-------------

CONSUMER CREOIT

1967
1966
1968
1963
1965
-------·
-1964
--------------------------------------------------------------------------------

l
2
3

TOTAL LIABILITIES I HOUSEHOLOS
INSTALMENT CREOIT
NONINSTALMENT CREDIT

45.0
33.9
11.1

45.l
33.6
ll.5

51.5
39.2
12.3

56. l
43.0
13.2

58.0
43.9
14.l

63.8
48.7
15.l

71.7
55.5
16.3

80.3
62.7
17.6

90.3
71.3
19.0

97. 5
77.5
2 o. 0

102.1
80.9
21.2

113. 2
89.9
23 .3

4

TOTAL ASSETS
INSTALMENT CREDIT
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
COMMERCIAL BANKING
SAVINGS INSTITUTIONS
FINANCE COMPANIES

45.0
33.9
.9
4.1
12.8
2.8
13.2

45.l
33.6
.8
4.6
12.8
3.2
12.3

51. 5
39.2
.9
5.3
15.2
3.9
14.0

56.l
43.0
.8
5 .5
16.7
4.6
15.4

58.0
43.9
.8
5.6
17.0
5.0
15. 5

63.8
48.7
.8
6.1
19 .o
5 .5
17.3

11.1
55. 5
6.9
22.0
6.2
19.6

80. 3
62. 7
.9
7.9
25. l
7.2
21.6

90. 3
71.3
1.0
8.11
29. 0
8. 3
24. 3

97.5
77. 5
1.1
9. 7
31.3
9.3
26. l

102.1
80.9
1.2
10.3
32. 7
10.1
26. 7

113. 2
89.9 5
l.3 6
11.2 7
37. 0 8
11.4 9
2'1.l 10

NONI NSTALMENT CREDIT
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
COMMERCIAL BANK ING
SAVINGS INSTITUTIONS

11.1
4.0
3. 8
2.9
.4

11. 5
4.1
3.9
3. 2
.4

12.3
4.2
4 .0
3.6

13.2
4.5
4.2
3.9
.6

14.l
4.7
4.3
4.4
.7

15.l
5.2
4.5
4.7
.1

16.3
5.4
4.8
5.2
.8

17.6
5. 7
5 .o
6.0
.8

19.0
6. l
5. 3
6 .7
.9

20.0
6.5
5.6
6.9
.9

21. 2
6.9
6.0
7. 3
1.0

23. 3
7. 5
6.7
8. o
1.1

264. 3

5

6

7
11

9

10
ll
l2

13
14
15

------------

2
3
4

5

6
1
8
9
10
11
12
13
14
15
16
17
18
19
20

TOTAL LIAB ILITIES
HOUSEHOL OS
FARM BUSINESS
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
SVGS. AND LOAN ASSNS.
FINANCE COMPANIES
REST OF THE WORLD


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

,.

11

12
13

14

15
------------------------------------------------------ELSEWHERE C LASSIFIED
---------------------------------------------------------------

.5

BANK LOANS NOT
TOTAL BANK LOANS AT COMMERC UL
BANKS, F/F BASIS
LESS CLASSIFIED TYPES
MORTGAGES
CONSUMER CREDIT
SECURITY CREDIT
OTHER LOANS
FINANCE CO. PAPER
OTHER COMMERC UL PAPER
ACCEPTANCES
HYPOTHECATED DEPOSITS
EQUALS BANK LOANS N.E.C.
ADO- LOANS FROM FED. RE S. BAN
TOTAL BANK LOANS N .E.C.

.II

95.0

99. 1

112.5

118.9

126.4

140.2

156 .9

175. 3

201. 1

219. l

236.9

23.1
15. 8
4.2
1.8
.5
.4
•3
.6
50. 1

25.3
15 .9
4.1
2.4

.6
.3
.6
50. 9

.9

28.l
18.8
4.9
2.9
1.5
.5
.3
•7
57.9

28 .7
20.6
5. l
3 .1
.8
1.0
.1
.7
61.4

30 .3
21.4
6.2
3. 5
.3
1.2
1.3
•8
64.8

34.3
23.7
7.3
3.8
.4
1.5
1.2
.8
71.l

39.2
21.2
7.9
3.9
.5
1. 3
1.3
.8
78.8

43. 7
31.0
8. 4
4 .6
.6
1.3
1 .7
1.0
87.6

49.3
35. 7
8. 5
4.1
.1
1. 0
1. 2
1. l
104.2

53. 9
38.3
9. 0
4.5
1. �
1.5
l. 2

58. 5
40.0
10 .5
7.0
2.9
2.2
1.9

113. 3

120. 8

50.1

50.9

57 .9

61.4

64.9

71.l

78.8

87.7

104. 3

113. 3

12 o. 8

65.2
44.9
11.8 4
5. 9 5
1.5 6
2.9 7
1.5 8
9
136. 5 10
- 11
136.5 12

50. l
5. 0
3. 8
2.8
31.4
.1
5.0
2.1

50.9
5.7
4.2
2.9
31.l
.1
4.3
2.6

57.9
6 .7
4.9
3.2
34. 11
.3
5.2
2.9

61.4
7. 2
5. l
3.5
36.6
.2
5.7
3.0

64.9
8.l
5.3
3.9
37.3
.2
6 .3
3.7

71.l
8.6
6.1
4.4
40.4
.2
7.4
4.1

78 .8
9.1
6.7
5.0
44.4
.2
9.0
4.4

87. 7
10.5
7 .o
5. 5
48. 0
•3
9.5
6.9

104. 3
11.9
1. 1
6. 5
58. 6
•5
11.7
7. 5

113. 3
12. 2
8. 6
1 .8
66.4

120.8
14.4
9.3
8.4
72.9
.4
8.4
7.1

l 36. 5
11.4
9. 7
9. l
82. 5
.4
10.6
6. 8

. .

•

. . . . .

•5

10. 3
7. 3

l

13

14
15
16
I7
18
19
20

FEBRUARY, 1970
OTHER LOaNS

OTHER LOANS
OTHER LClo\NS

80

80

I BILLIONS OF DOLLARS I

-----------------------------------------------------------------------------------------------------------1946
1952
1954
1949
1955
1956
1953
1948
l91t5
1950
1947
---------------------------------------------------·
-1951
--------------------------------------------OTHER LOANS -- SECTOR TOTALS
---------------------------------------------------------------------------------YEAR-ENO LEVELS, l91t5-56

YEAR-END l EYELS, 191t5-56

1
2
3

"5
6

7
8

9
10

11

12
13
lit
15
16
17
18
19
20

l

"

3

5
6
7
8
9
10
11

12
13
14
15
16
17
18
19
20
21
22
23
24

TOTAL L IABILITIES
HOUSEHOL OS
FARM BUSINESS
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
SPONSORED CREDIT AGENCIES
STATE ANO LOCAL GOVERNMENTS
SAVINGS INSTITUTIONS
FINANCE N. E.C .
REST OF THE WORLD
TOTAL ASSETS
C ORPORATE BUSINESS
u.s. GOVERNMENT
SPONSORED CREDIT AGENCIES
COMM ERCIAl BANKS
MONETARY AUTHORI TY
MUTUAL SAVINGS BANKS
INSURANCE
Fl NANCE N.E. C.
REST OF THE WORLD

29
30
31
32
33

12 .5
2.l
•8
2. 3
2. 0

17 .2
2.2
•8
2. 6
1.9

19.2
2 .4
.8
2.9
2 .o

20.2
2. 6
.8
3.l
2.0

21.7
2. 9
.9
3 .5
2.I

23.7
3.2
1.0
3.9
2.4

24. 5
3 .3
1.1
4.0
1.9

26. 7
3. 5
1.1
4. 2
2. 3

26. 5
3. 8
l. 2
4. 2
2.4

.5
.2
.1
1.6

.5
•3
.2
4.4

•5
.4
.3
8.5

.6
•5
.5
9.6

.5
.4
•7
10.l

.6
.8
•7
10. 3

•8
.9
1.1
10.5

1.1
.9
l.4
l O. 9

•8
1.0
1. 6
12. 2

12. 5
.1
6. 5
.8
.5

17 .2
•2
10. 8
1.1
.6

19. 2
.3
12.2
1.4
•7

20.2
•5
13.0
I. 3
•7

21.7
.4
13.4
I.8
I. 0

23. 7
•5
14.I
2. l
t.4

24 .5
•7
15. I
2. l
l.6

.1
l .9
2. 6
.1

.l
1.9
2.4
.1

.1
2.1
2 .5
.1

.1
2.2
2. 2
.1

.l
2.4
2. 5
.2

.l
2.6
2. 7
•3

•

9.5

.

3.8
•7
•3
2. 0
2. 7

OPEN MAR KET PAPER-TOTAL
DEALER-PLACED PAPER-TOTAL
LIABILITIES OF:
NON FIN. CORPORATIONS
FINANCE COMPANIES
ASSETS OF:
NON FIN. CORPORATIONS
INVESTMENT COMPAN l�S
COMMERC I Al BANKS
F (NANCE co. LIAB.
NONFIN. CORP. l lAB.

29 .4 I
4.4 2
1.4 3
5. 0 4
2. 3 5
.4 6
•5 7
1.2 8
I. 9 9
12. 3 10

26. 7
1.0
16. 7
1. 9
l. 6

26. 5
1. 0
16. l
l. 9
1.6

28.l
1.2
16.7
2.5
1.4

.1
2.7
2 .o
•3

2. 9
2.l
.4

.l
3. I
,. 9
.6

.l
3 .4
2. 6
•3

29 .4
1. 3
17. 3
2.4
l.5
.1
.1
3.6
2 .6
.5

.,

11

12
13
14
15
16
17
18
19
20

.3

.6

•8

.9

1.1

I. 3

l.8

2. 2

2. 5

2. 8

2.7

3. 2

l

•2

.2

•3

.3

•3

•3

.4

.6

.6

•7

•5

•5

2

.1
.l

.1
.l

.2
.l

•2
.l

•2
.l

.2
.I

•3
•2

.3
.2

•3
•2

•4
•3

.3
•2

.3
•2

"

.1

.1

.1

.1

.1

.1

•2

•2

.2
.1
.1

•2
.1
.l

.2
.I
.1

•2
.1
.1

.,

.2

•2
.1
.l

•3

•4
•2
•2

.5

•2

.4
•2
.2

•2
•3

.1
.I
.4
.l
.2

.l
•4
.I
•2

5
6
7
8
9

.l

.2

.4

.6

.6

.9

I.2

I. 4

I.2

l.5

1. 7 10

.l

.1

.l

•2

•3

.5

•7

.6

•3

.1

•3

.4

•3

•4

•5

•8

•B

•3
.I
1.1

• 3 II
.l 12
l. 2 13

.,

•3

•3

.4

•5

•5

•6

•9

• I,

1.0 14

.1
•2

.I
.2

.2
•3
•2
•2

•2
•3
•2
•2

•2
•4
•2
•2

•3
.6
•3

•3
•3
•2
.2

.5
•5
•2
•2

15
16
17
18

•3

.2
.1
.I

•2
.l
.1
.1
.2
•5

19
20
21
22
23
24

.

.1

.1

0IREC TLY-PLACEO PAPER-TOTAL
LIABILITY 0 f: FINANCE cos.
ASSETS OF:
COMM ERCIAl BANKS
LIFE INSURANCE cos.
NONFIN. CORPORATIONS
BANKERS' ACC EP TAN CES-TOTA L
LIABILITIES OF:
REST OF THE WOR LO
NONFIN. BUSINESS
NONCORPORATE
CORPORA TE
ASSETS Of:
COMMERCI Al BANKS
FOREIGN
DOMESTIC
FEDERAL RESERVE
AGENC !ES OF FGN.BANKS
REST OF THE WOR LO

u.s.

.4
.9
1. �
12. l

28. l
4.1
l.3
4.7
2. 3
.l
•5
l.4
l. 7
12.l

-------------------------------------------------------------------------------------------------OTHER LOANS -- BY TY PE
---------- - ----- --------------------------------------------------------------------------------

25 FINANCE co. LOANS TO BUSINESS
LIABILITY OF-CORPORA TE BUS.
26
-NON CORP. BUS.
27
28

9. 5
2.I
.8
2.l
2.1

GOVT. LOANS
LIABILITY OFHOUSEHOLDS
FARM BUSINESS
NON FARM NONCORP. BUSINESS
CORPORATE BUS !NESS
STATE ♦ LOCAL GOV TS.
SPONSORED CR. AGENCIES
REST OF THE l«JR L O

•2

•2

•3

.,

3

.l
.1
.l

•2
.1
.1

.2
.1
.l

.,
.1

.,

.1

.I
.3
.1
.l

.1

.2

.1

.l

.1

.1

•2
.l
.1

.1

.1

.2
.I
.l

•2
.I
.l

•2
.I
.l

•2
.1
.I

.I

.1

.1

.1

.1

•2

•3

•3

•4

.b

2. 7
l. 3
1. 3

2.6
l. 3
l. 3

2. 4
l.2
l .2

2. 5
1.2
l.3

2.2
1.1
1.2

2 .5
1.1
I. 3

2.7
1.4
l. 3

2. 0

2. l

I. 9

2.4

l. 3

l. 3

1. 0

I. 3

I.I

2. 3 25
1.1 26
l.2 27

3. 7

6. 3

10. 7

12. 0

12. 9

13 .2

13.9

14. 9

16. 4

lb. 0

lb .4

17 .o 28

.1

.l 29
• I, 30
3.0 31
• 7 32
• 5 33
• 4 34
11.a 35

. .

•1

•8

.

•3

•2

• p

.5
•5
.6
.5

.4
•7
•5
•5

•3
1.0
.5
.5

•2
l. 2
.5
.6

•2
l. 5
.6
•5

.2
I. 7
.6
.6

•2
2. 0
.6
•8

•2
2.2
•7
1.1

•4
2. 2
1.0
•8

.5
2. 4
•8
•4

l .6

.l
•3

•6

4. 3

8.4

9 .5

10. 0

l O.l

10.3

10.7

12 .o

11. 8

2. 8
•7
•5
.1
11. 8

3 6 SPONSORED CR.AGENCIES LOANS
LIABIL ITV OFNONFARM NONCORP. BUS.(8CI
37
FARM BUSINESS IFICB I
38
SVGS. ♦ LOAN AS SNS. I FHLBI
39

.1

.8

1.1

1.4

I. 3

l.8

2.l

2. I

1.9

1.9

2. 5

2. 4 36

.l
•3
.2

.1
.4
•3

.2
.5
.4

•2
.6
.5

•2
.6
.4

•3
•7
.8

•3
•8
.9

•3
.9
•9

.4
1. 0

.6

•4
•7
.9

.4
•7
1.4

• 7 38
l. 2 39

40 POLIC Y LOANS I HS HOLDS L !AB . I
ASSETS-u.s. GOVERNMENT
41
LIFE INSURANCE cos.
42

2.l
.I
2.0

2.0
.1
1.9

2.l
.1
1.9

2.2
.I
2.l

2. 4
.I
2.2

2. 6
•2
2 .4

2. 8
•2
2.6

2.9
•2
2. 7

3. l
•2
2. 9

3. 3
•2
3.l

3. 6
•3
3.3

3 .8 40
• 3 41
3. 5 42

.l

.1

.l

.l

.l

.1

.1

.I

.,

.l 43

.2

•2

.3

.4

.4

•5

•5

34

35

43

MUTUAL SVGS. BANKS LOANS TO
NONCORP. BUSINESS

HYPOT HECATEO DEPOSITS (HSHOLDS LIAB. I
ASSET-COMMERC !Al BANKS
44
.1


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.1

.,

.,

.4

• 5 37

• I,

44

FEBRUARY, 1970
OTHER LOANS

OTHER L OANS
81

arHER LOANS
I BILL JONS OF DO LLARS l

81

YEAR-ENO LEVE LS, 1957--68
---------------------------------------------------------------------------------------·--------------------------------------------1967
1966
1968
196 3
1965
1959
1957
1960
1964
1958
1961
1962
-------------·-----------------------·-------------------------------------------------------·
-----OTHER LOANS -- SECTOR TOTALS
---------------------------------------------------------------------------------------------------

Y EAR-END LEVELS, 1957-68

6
7
8
9
10

TOT AL LIABILITIES
HOUSEHOLDS
FARM BUSINfSS
NONF ARM NON CORP. BUSINESS
CORPORATE BUSINESS
SPONSORED CREDIT AGENCIES
ST ATE AND LOCAL GOVERNMENTS
SAVINGS INST JTUT IONS
FINANCE N.E .C.
REST O F THE WORLD

32. l
5.0
1. 5
5. I,
2. 8
.1
•7
1. 3
2. 3
12. 8

H.4
5.4
I. 7
5. 8
2. 7
.I
.'l
1.3
2. 2
13 .4

36.6
6.1
2 .o
6.5
2. 5
.1
1.0
2 .1
2.9
13.4

41.9
7. 0
2. l
7 .1
4. 3

11
12
13
14
15
16
l7
18
19
20

TOTAL ASSETS
CORPORATE BUSINESS
u. s. GOVERN�ENT
S PONSORED CR EDI T AGENCIES
COMMER( IAL BANKS
MONETARY AUTHOR ITV
MUTUAL SAVIN GS BANKS
INSURANCE
FINANCE N.E .C.
REST OF THf WORLD

32. l
I. 4
I 7. 7
2. 7
1.8
.1
.1
4. l
3. 5
•7

H.4
1.2
I A. 8
3. 0
2. 4
•2
4. 3
3. l
.6

36. 6
1.1
19. 3
4.1
2.9
.1
.2
4. 7
3. 7
.5

4.0

3.9

4.4

.b

.'3

•7

.4
•2

.b
.3

•3
.4

.1
.1
.4
•2
.2

.2
b
.2
.4

DIRECTLY-PLACED PAPER-TOTAL
LIABILITY OF: FINANCE cos.
ASSETS OF:
COMMERCIAL BANKS
LI FE INSURANCE ens.
NONFIN. CORPORATIONS

2.1

64.9
10. l
3.1
10. 3
b.0
.1
2 .5
5.3
7. 2
20. 2

7 2. l
ll.O
3. 5
12.0
b. 1
•3
2. 8
b.0
8. 3
21. 5

82. 0
ll.9
3. g
13. 8
8. 0
.1
3. 4
6. c;
ll.7
22. 3

3.6
4.4
13.5
25 .3

101. 2
14.9
5 .5
15. 5
12.4
.3
4.0
5. 3
16. 0 9
27. 3 10

57.0
4.4
25.5
7.7
3.9
•2
•3
7.0
7.0
1.1

64.9
1,.0
28 .4
8.5
4. I,
.1
7.4
8. 3
I. 3

77.. I
6. 5
31. 2
9.6
4.1
•2
•3
8.0
10.5
1.1,

82.0
8. 5
H. 5
11.1
4.5
•2
.5
9.5
12. 2
1.9

88.5
10 .o
37.2
9. 3
7 .o
.2
•5
10. 5
11.7
2. l

101. 2
14. 5
41. l
10. 5
5. 9
.1
.6
11.1
14. 2
2.7

8. 7

9.6

11. 7

12. 5

16.9

20.9

24. 9

l

2.1

1.9

2. 2

I. 9

3. I

4.9

7.2

2

1.1
•b

l .2
.9

1.0
1.0

1.1
1.1

•8
1.1

l.6
1. 5

3.0
1.9

4. 5
2. 7

3
4

.5
1. 2
.5
•7

.4
.3
1. 5
.b
.9

.4
.2
1.3
•5
•8

.8
.1
l.3
.5
•8

.4
•5
1.0
.4
.b

.5
1. 0
1. 5
.6
.9

1.7
1.0
2. 2
.9
1. 3

3. l
1. 2
2.9
1. 2
1. 7

5
6
7
8
9

3.1

3.0

3.9

4. 8

6. l

7.2

10. 2

11.6

13.3 10

•8
•3
2.1

.3
•2
2. 5

.4
•3
3. 2

•5
.4
4. 0

.6
•3
5.3

.7
.3
6. l

l. fl
.4
s.o

2.9
.5
8.3

1. 5 11
12
11.4 13

I.2

2.0

2.7

2.7

2.9

3.4

3. 4

3.6

4.3

4.4 14

.6
.b
.3
•3

1. 2
.8
.4
.4

l.8
.9
.4
.4

l.8
.9
•5
.4

2.2
•7
•3
•3

2.6
•8

·"

.4

2.5
.9
.4
.4

2. 5
1.1
•5
.5

3 .o
I .3
•7
.1

2.9
1.6
.a
.a

•3
•6

•3
.1
•2
.1
•3
•5

•7
.3
•3
.1
•3
1.0

l. 3
•8
.5
.1
•3
l.o

1.2
.8
.4
.1
•3
1.0

I. 3
1.0
•3
.2
.4
1.1

1.7
1. 3
.4
.1
.4
I. 3

1. 2
.9
.3
•2
.3
1.6

1. 2
.8
.4
•2
•3
1.9

1.9
1 .3
.6
.2
.2
2. l

1.5 19
1. 0 20
.5 21
.1 22
• 2 23
2. 7 24

3.2
l. 4
1. 7

2. B
1.1
1. 7

3 .4
1.1
2. 3

,._ 9
2 .3
2 .6

5. 0
2. 5
2.5

5.l
2.2
2.9

6.4
2. 7
3.7

1
3.2
4.6

9. 7
3.8
5.9

IO. 9
3. 8
7.1

10.6
3.5
1.0

12.s 25
5. 3 26
7. 5 27

I 7.4

18.4

18 .9

19. 7

20.9

23.2

25.0

27 .8

30. 6

32.7

36.4

40. 3 28

•2
.1,
3. 0
•7
•7
.I
12. 2

•3
.6
3. l
.8
.9
•1
12. 8

.4
.6
3 .2

1.0
•7
3.4
1.1
2.0
•1
14.9

I.2
.8
3.6
1.2
2. 2
16.0

1.4
.9
4.0
1.4
2. 5
.1
17.5

1.1,
.9
4. 2
1. 7
2. 8
•3
19.0

4.4
2. 0
3.4
.1
19. 8

2.4
1.1
4. 8
2. 2
3.6

13.3

•7
•7
3. 2
.9
l .5
.1
13.8

2. l

1. 0
.1
12.8

.b
.I,
3.2
.9
l. 2

1. 2
2 .o
3. 7
14.5

.

45. 5
7 .7
2. 3
7 .1
5 .o
.1
1. 5
2. 7
3. I,
15. 5

50. 9
8 .5
2.1,
7. 8
5.0
.1
2. 0
3. 5
4 .8
lb. 1

2. 2
4. 8
5.8
18 .2

41.'l
2.4
20 . l
4 .1
3.1
.1
•2
5.5
5. 4
1.0

45 .5
3.0
21. 4
5.0
3. 5
.1
•3
5 .9
5.4
I. 0

50.9
3 .5
23. 7
6.I
3.8
.1
.4
b.b
5 .7
1.0

6. 5

7 .4

1.4

1.7

•8
.b

.1
.1
.5
•2
.3

•3
.1
1.0
.4
.b

1. 9

2. 5

.5
•2
1. 4

.9
.1
1. 0

1. 5
.1
.9

BANKER S' ACCE PTANCE S-TOTAL
LIABIL ITIES OF:
REST OF THE wono
NONFIN. BUSINESS
NON CORPOR ATE
CORPORATE
ASSFTS OF:
COMMER Cl AL BANI( S
FOREIGN
DOMES TIC
FEDERAL RESEQVE
A GENCIE S OF FGN.BANKS
REST OF THE WORLD

I .3

1. 2

•7
.b
•3
•3

.6
.b
•3
•3

•3
.I
•2
.1
•3
•7

.3
.1
•2

25 FINANCE co. LOANS TO RUSINfSS
LIABILITY OF-CORPORATE RUS.
26
-NON CORP. BUS.
27

l

I,
7

10
11
12
13
14
15
lb
l7
18
19
20
21
22
23
24

28
29
30
31
32
33
34
35

.4

88. 5
13 .3
4. 5
14. 5
9.4

11
12

13

14
15
lb
17
18
19
20

-----------------------------------------------------·----------------------------------------·----OTHER LOANS -- BY TY PE
--- ----------------------------------------------·------------ - ---------------------------·---------

OPEN MAR KET PAPER-TOTAL
nFAL ER-PLACED PA PfR-TOTAL
LIABILITIES OF:
NONFIN. CORPIJRAT I ON S
FJ NANC� COMPhNIES
ASSETS OF:
NONFIN. CORPORATIONS
INVESTMENT CO,.PANIES
COMMERCIAL BANKS
FINANCE co. L JAB .
NONFIN. CORP. LIAB.

u. s.

57. 0
9. 2
2.9
8.8
5.1

GOVT. LOANS
LIABILITY OFHOUSEHOLDS
FARM BUSINESS
NONFAR'I NONCORP . BUSINESS
CORPORATE BUSINESS
STATE ♦ LOCAL GOVTS.
SPONSOR ED CR. AGENCIES
RE ST OF THE WORLD

.

•

.a

.

.a

_q

·"

15
16
17
18

22. 3

.

2. 9
1. 9
5 .o
l. 8
4.0
.3
24. 5

29
30
31
32
33
H
35

10.5

JI,

3 6 SPONSORED CR .AG ENC IES LOANS
LIABIL ITY OFNCNFARM NON CO RP. BUS . ( BC I
37
FARM BUSINESS IF !CBI
38
SVGS. ♦ LOAN AS SNS. IFHLBl
39

2 .1

3.0

4.1

4.1

5.0

6.1

7.7

a. 5

9.6

11.1

9. 3

•5
.9
l. 3

.5
1. 2
1. 3

.b
1.4
2.1

.b
l .5
2.0

•7
l.7
2.7

•7
l.8
3.5

.8
2.l
4. 8

1.0
2.2
5.3

1.1
2.5
b. 0

1. 3
2.9
1,.9

1. 5
3.4
4.4

1.1, 37
3. 7 38
5. 3 39

40 POLICY LOANS (HSHOLDS L JAB. l
ASSETS-u.s. GOVERNMENT
41
LIFE INSURANCE cos.
42

4. 2
•3
3. 9

4. 5
.4
4 .2

5.0
4.6

5.7
.4
5. 2

I, .2
.5
5.7

6.8
.5
I, .2

7.2
.b
b.1

7. 8
.6
7. l

8.3
•7
7. 7

9. 8
•7
9.1

10. B
.8
10.1

12.l 40
. 8 41
11.3 42

.1

.2

.2

.2

.3

.4

•3

.4

.3

.5

.5

.6 43

H YPOTHECATED DEPOSITS I HSHOLDS LIAB. I
.6
ASSET-COMMERCIAL BANKS
44

.6

.7

.7

.8

.a

.8

1.0

1.1

43

MUTUAL SVGS. BANKS LOANS TO
NONCORP. BUSINESS


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

·"

-

44

FEBRUARY, 1970
SECUR ITV CREDIT, TRADE CREDI T, ANO TAXES

SECURITY CRE OIT, TRADE CREDIT, A ND TAXES

SE CURIT V CREDIT, TRADE CREDIT, AND TAXES PAYABLE
I BILLIONS OF DOLLARS l

82

82

YEAR-ENO LEVE LS, 1945-56
-------------------------------------------------------------------------------------------------1946
1945
1947
1951
1948
1952
19 49
1954
l 955
1950
1953
1956
----------------------------------------------------SECURITY CREDIT
--------------------------------------------------------------------------------

YEAR-ENO LEVELS, 1945-56

4

TOTAL LIABILITIES
CUSTOMERS
SECURITY LOANS FROM BA NKS
CUSTOMER DEBIT BALANCES

8. 8
4.9
3.6
1. 3

4. 5
2. 2
1.6
.6

3.4
1.9
l .2
.6

3.6
l.6
1.0
.6

4.4
l.8
.9
1.0

5.4
2.6
1.1
1.5

5.0
2.4
1.0
l.4

5. 7
2.6
1.1
1.5

6.5
3. l
1. 2
1.9

8.6
4.2
1. 5
2. 7

9.6
4.9
1.8
3.l

9.0
4.8
l. 7
3.l

l
2
3
4

BROK ER S ANO DEA LERS
SECURITY LOANS FROM BANKS
FROM AG. OF FGN. BANKS
CUSTOMER CREDIT BALANCES

3. 9
3.2

2. 3
1. 5

1.5
•8

2.0
l .3

2.9
l.8
.1
l .o

2.6
l.6
.2
.9

3. l
2.1
.2
•8

3. 4
2.4
•3
•8

4.5
2.9
.4
1.1

4.7
3. 3
.5
1.0

4.2
2. 6
.6
1.0

5
6
7
8

.1

.8

.7

.6

2. 5
l .8
.1
•7

9
10
ll
12
13

TOTAL ASSETS
HOUSEHOLDS
COMMERCIAL BANK ING
TO BROKERS �D DEALERS
TO OTHERS

8. 8
.6
6. 8
3. 2
3.6

4. 5
•7
3. 2
1. 5
l.6

3.4
.6
2.l
1.2

3.6
.6
2. 3
l.3
1.0

4.4
.6
2. 6
1.8
.9

5.4
.9
2.9
1.e
1.1

5.0
.e
2.6
1.6
1.0

5. 7
•7
3.2
2.l
1.1

6.5
.7
3.6
2.4
1. 2

8.6
1.0
4.5
2.9
1.5

9.6
.9
5.0
3. 3
1.8

9.0 9
.9 10
4.3 ll
2.6 12
l. 7 l3

14
15
16

FINANCE N .E.C.
BROKER S ANO DEALERS
AG. OF FGN.BANKS

1. 3
1. 3

.6
.6

.6
.6

.6
.6

1.0
1.0
.1

1.6
1. 5
.1

l.6
1.4
.2

1.1
1.5
.2

2. 2
l.9
•3

3.l
2. 7
.4

3.6
3.1
.5

3.7 14
3.1 15
.6 16

17

REST OF THE WORLD

.1

.1

•1

.1

•l

.1

.1

•l

.1

.1

•l

• 1 17

5
6

1

8

.s

------------------------------------------------------------------------------------------------------------ TRADE CREO IT
-----------------------l
2
3
4
5
6
1

8
9
10

TOTAL L IABILITIES
HOUSEHOLDS
FARM BUSINESS
NONCORP. BUS. NET PAYABLES
LI AB IL ITV
ASSET
CORPORATE BUSINESS
u.s. GOVERNMENT
STATE ANO LOCAL GOVERNMENTS
REST OF THE WORLD

ll
12
13
14
15

TOTAL ASSETS
CORPORATE BUSINESS
u.s. GOVERNMENT
NONLI FE INSURANCE
REST OF THE WORLD

16

DISCREPANCY I 1-ll l

4
5
6
7
8
9
10
ll

12

22.6
•5
.6
-2.0
4.1
6. l

23.6
.6
.6
-1.9
5.4
7. 3

27.2
.9
-l.6
6 .3
7.9

29. 5
.7
l .2
-1.0
7. 3
8 .3

28.5
•8
1. 4
-1.0
7.6
8.5

38.1
.9
l.7
-1.1
9.0
10.1

43.l
.9
2.l
-1.2
9. l
10.3

45 .9
1.1
2. 3
-1.5
10.0
11.5

46. 4
1. 2
2.1
-1. l
10. 9
12. l

49. 8
1. 3
2. 2
.5
12.6
12. l

59.4
1.4
2.3
1.9
14.1
12. 2

64.9
1.5
2.4
1. 8
15 .4
13.5

l
2
3
4
5

l 9.8
2. 7
.6
.4

22. 5

25.9

21.0

25.7

.9
.4

1. l
.4

1.2
.4

36.8
2.7
1. 3
.5

39.4
2. 8
1.4
•5

39. 8
2.6
1. 5
•5

41.4
2. 4
1.6
.5

49. 2
2. 3
1.8
.6

54.0
2.6
·1.9

1

.8
.3

33.9
1.1
l.3
.4

22. 3
20.6
.9
.4
.4

25.3
24.4
.1
•5
.4

31.7
30. 7

34. 3
33. 3

33.6
32 .6

.6
.4

•7
.4

.1

45. 9
44.4
.4
•7
.4

50.6
48.1
1. 3
.9
.4

56.0
52.4
2.3
.9
.4

55. 1
51.6
2.2
1.0
.4

60.1
56.2
2.4
1.1
.3

71.4
67.6
2.3
l .2
.4

79. 2
75.l
2.4
l.3
.5

11
12
13
14
15

•3

6
8

9

.1 10

-7 .8
-7.5
-10.1
-10.3
-12.0
-8. 8
-14.3 16
----------------------------------------------------------------------------------------PROFIT TAX es PAYABLE
--------------------------------------------------------------------------------------------.3

..

TOTAL TAXES PAYABLE
NONFINANCUL CORPORATIONS
FEDERAL RESERVE
COMMERCIAL BANKS
SVG. + LOAN ASSNS.
LIFE INSURANCE COMPANIES
OTHER INSURANCE COMPANIES
FINANCE COMPANI es
BROKERS + DEAL ER S

11.3
10.8

TOTAL TAXES RECEIVABLE
u. s. GO VERNMENT
STATE + LOCAL GOVTS.

11.3
10. 8
.5


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

•1

.1

.3

-1.8

-4.5

9. 3
8. 8

11.6
11.3

12. 6
12.1

10.5
9 .7

18.l
17.3

23.0
21.9

20.1
le. 7

21. 2
19.3

17. 6
16.0

21.4
20.l

19.6
18.l

.2

.3

•3

.5

.6

.8

1.0

.9

.6

.9

•l
.1

.2
.1

.1
.2
.2

•l
.1
.2

.1
•2
•2

•2
.4
•3

.2
.2
•2

.2
.2
.3

12.6
11.9
•7

10.5
9. 8
.6

18.l
17.3

23.0

20.l
19.2
.9

21. 2
20. 3
.9

17.6
16. 8
.8

21.4
20.4
1.0

•
.4

.•

9.3
8. 8
.5

-4. 8

-5.l

. . . .
. . .

.1
11.6
11.0

.r.

.8

.

22.l
.9

.
•

.•

.
•

.•

..

•3

.3

6
7
8
9

19.6 10
18.6 ll
1.0 12

FEBRUARY• 1970
SECUR ITV CREDIT• TRADE CREDIT• ANO TAXES

S ECURITY CREDIT•

83

--------------·-------·----------------------

Y EAR-END LEVELS• 1957-68

1957

l
2
3

TOTAL LIABILITIES
CUSTOMERS
SECURITY LOANS RICH BA NKS
CUSTOMER DEBIT BALANCES

5

BROKERS ANO DEALERS
SECURITY LOANS RICH 8A NKS
FROH AG. OF FGN. 8ANKS
CUSTOMER CREDIT 8ALANCES

"

6
1
8
9
10

11

12
l3

TOTAL ASSETS
HOUSEHOLDS
COHHERC UL BANKING
TO BROKERS AND DEALERS
TO OTHERS

lit
15
16

FINANCE N .E.C.
BROKERS ANO DEALERS
AG. OF FGN.BANK S

17

REST Of THE WORLD

"

5

1
8
9
10

TOTAL L UB ILITIES
HOUSEHOLDS
FARH BUSINESS
NONCORP. BUS. NET PAYABLES
LUBIL ITV
ASSET
CORPORATE BUSINESS
u. s. GOVERNMENT
STATE ANO LOCAL GOVERNMENTS
REST OF THE WORLD

12
13
14
15

11

TOTAL ASSETS
CORPORATE BUSIN ESS
u.s. GOVERNMENT
NONLIFE INSURANCE
REST OF THE WORLD

16

DISCREPANCY C 1-111

1959

1.6
2.8

10.'t
5.6
1. 8
3.8

10.5
5.6
1.9
3.8

10.9
5. 5
1.e
3.6

13.2
6.9
2.1
4.7

13.9
6.7
2. l
lt.6

16.4
8 .7
2.6
6.1

16.3
8. 5
2.8
5.6

11.2
9. 3
3. 2
6. l

17 .6
9.l
3.2
5.9

23.2
12.6
3. 8
a. 1

27.5
l'- .9
lt.l
10. 8

1
2
3
4

lt.3
2.6
•7
1.0

lt.8
2. 8
.1
l.3

lt.9
3.0
.8
l. l

5.lt
3. 3
.8
1.2

6.3
4. l
.9
1. 3

7.2
5.2
•7
l .3

1.1
5. 3
1.1
1. 3

7.9
5.5
1.1
1. 3

7. 9
5.3
.8
1. 8

8.5
5. 8
•9
l.e

10.6
6.1
.9
3.0

12.6
7.7
.9
lt.l

5
6
7
8

8. 7
.9
...2
2.6
1.6

10.lt
1.2
...1
2.e
1.8

10.5
1.0
4.9
3.0
1.9

10.9
l. l
5. l
3.3
1.8

13.2
1.2
6.2
4. l
2. l

13.9
l .2
7.3
5.2
2.1

16.,.
1.2
7.9
5.3
2.6

16.3
1.2
8.4
5.5
2. 8

17.2
l. 7
8. 5
5. 3
3. 2

17.6
l.6
9. 0
5.8
3.2

23.2
2.7
10.5
b.1
3.8

27. 5
3.5
ll.B
7. 7
4. l

9
10
11
12
13

3.5
2. 8
•7

4.5
3.8
•7

4.5
3.8
.8

4. 5
3.6
.8

5.6
"· 7
.9

5.3
4.6
•7

7 .2
6.1
1.1

6. 7
5.6
l.l

6. 9
6. l
.e

6.8
5.9
.9

9 .b
8.7
.9

ll.6 lit
10.0 15
.9 16

.1

.1

.1

.1

•l

•l

.1

.l

•2

•2

•3

.b 17

"·"
8.7

"

5
6

7

8

9

10
ll
12

---------------------------------------------------------TRADE CREDIT
----------------------------------------- ---------- -------72.0
1. 8
3.l
1.9
16.0
14.l

78.4
2. l
3.5
2. l
16.0
13.9

81. l
2.1
3.7
2. 6
16. l
13 .6

85. 0
2. 2
3.9
2.9
16. 8
13.8

91. 3
2.4
lt.5
2.7
16. 3
13. 6

96.6
2. 5
5.l
l.7
15.3
13. 6

101.4
2.e
5.5
l. 2
15. I
l3 .9

l ll. 0
3.0
6. l
•5
14. 5
14. 0

l20. 5
3.3
7.o
-.8
13. 7
14.4

l2b .b
3. 7
7.8
- •I
14.8
14.9

135.0
4.1
e.6
•2
15 ·"
l 5.l

54.6

59 ·"

6,..6
2.9
2.4
.9

b5.5
3. l
2. 5
1 .7

68. 0
3.4
2.7
l.9

12.b
3. 7
2.8
2 .7

77.9
3. 6
3.0
2.7

81. 5
3 .4
3.3
3. 7

90. 6
3.9
3. 7
3. 2

98.4
4. 5
4.2
3.8

101 .D
5.1
4. 7
4.4

106. 7 7
5. I 8
5. 2 9
5. 2 l 0

96.l
93.9
l. 7
l.8

103.5
9 9 .2
l. 8
i.9
.b

110. 8
106 .2
1 .8
2.0
•8

ll 9 . 8
ll',.8
2.0
2. 2
•8

128. 4
122. 8
2.5
2.3
•8

l36.9
130.9
2. 7
2. 5
.0

15 2. 7
146 .o
3. I
2. 6
1.0

166. 0
I 5 7. 3
4.4
2. 9
1.4

l 76. 9
I 66.I
5 .6
3.2
I. 8

I 93.5
180. 9
6. 4
3. 5
2. 7

2. 6
2.1
•8

82.2
77.9
2.3
l. 5
•6

2. 8

2. 3
.e
90.0
8b. Z
1.7
l.6
•5

•1

------------

l
2
3
4
5
6

ll
12
13
14
15

-18.l
-22.,.
-28. 5
-19. 7
-25. 8
-45. 5
-58. 5 16
-41. 7
- 35. 5
-5 0 .3
-15.2
-31.8
-------------------------------------------------------------- -- --------- ------ -PROF IT TAXES PAY ASL E
-- ------ --- ----------- ------------------ ------------- -- ------- - --- -----

--

TOTAL TAXES PAYABLE
NONF INANC Ill CORPORATIONS
FEDERAL RESERVE
COHHERC IA L BANKS
SVG. ♦ LOAN ASSNS.
L IFE INSURANCE COHPAN IE S
OTHER INSURANCE C OMPANIES
FINANCE COMPANIES
BROKERS ♦ DEAL ER S

l 7. b
16.0

l 5. 0
13.4

LO

.9

•3
.l
•3

•3
•2
•2

TOTAL TAXES REC El YABLE
u. s. GOVERNl'IENT
STATE ♦ LOCAL GOIITS.

l7.b
16. 7
.9

15 .o
14. 2
•8


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1960

67.0
1.6
2.6
2.5
15.5
13.0

-----

l
2
3

------------------------------------------------------1963
l 967
1962
19 6',
1966
1968
1961
1965
------------------------------------------------------SECURITY CREDIT
--------------------------------------------------------

YEAR-END LEVELS. 19 5 7-6 8

1958

-----------l
2
3

TRADE CREDIT• AND TAXES

SECURITY CREDIT• TRADE CREDIT• ANO TAXES PAYAII. E
I Bl LLIONS Of DOLLARS I

83

.

11.s
15 .8
•3
•5

·"

.l
.3
.l
17. 5
lb .5
.9

. .

--

16 .o
13.6

I 6. 5
15 . l

l7. 7
l5. 7

l 9. 2
l 7.6

l. 5

.b

1 .1

.4
.l
•3

.4
.l
•3
.I

•4
.1
.3

.b
.1
.4
.l
•3
.1

lb. 5
l 5. 5
1.0

17 .7
l 6. 6
1.1

16. 0
15 .o
.9

19. 2
17.9
1.3

---

20.8
l 8. 5
•5
•8
.1
.b

--- -

-

2 2. 5
20. 7

22. 7
20.9

l 8. 5
16. 8

• 1

•2
.1

.1
•5
.l
•3
.l

•7
.1
•6
.1
•2
.I

•7
.1
.5
.l
•2
.1

20. 8
18 .9
l.9

22. 5
20. 5
2. l

22. 7
20. 4
2. 3

l8 .5
16.3
2.2

-

22.1
20. 5
.l
•5
.1
.b

4
5
b

•2
•2

8
9

7

22.1 10
19.8 11
2. 3 12

FEBRUARY, 1970
MISCELLANEOUS I

Ml SC ELLANEDUS I
"II SCELLANEOUS FI NANC J AL CL Al M S
IBILLIONS OF DOLLARS I

84

84

YEAR-ENO LEVELS, 1945-56
YEAR-ENO LEVELS, 1945-56
---------------------- ----------- ------------------------------------------------------------ ------------------------------ ----1947
1945
1949
1946
1948
1951
l 'l50
1952
lQ53
1954
1955
1956
--------------------------------------------------------------------- --------------------- ------48 .o
44.7
40. 8
60.0
66.6
51. 7
38.0
56.l
TOTAL LI ABILI Tl ES
85. 5
78. 3
7?.6
95. 2
HOUSEHOL OS
CORPORATE BUSINESS
u. s. GOVERNMENT
SPONSOR ED CR. AGENC JES
LIFE INSURANCE COMP ANIE S
NONL IFE INSURANCE COMP ANI ES
COMMERCIAL BANKING
SAVINGS INSTITUTIONS
FINANCE N.E.C.
REST OF THE WORLD

.6
10. 7

26. 8
6. 3
•7
•8
7. 9
1.5
-.l
1.0
.9
.1
2.5

25

TOTAL ASSETS
HOUSEHOLDS
FARM BUSINESS
NONFARM NONCORPORATE BUSINE
CORPORATE BUSINESS
u.s. GOVERNMENT
SPON SORED CR. AGENCIES
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
s .+ L. GOVT. RTR. FUNDS
COMMERC JAL BANKING
SAVINGS INSTITUTIONS
BANKS IN TERR .ANO POSS.
REST OF THE WORLD

26

UNALLOCATED, NET

4
5
6

T

8
9
10
11

12

13
14
15
16

17

18
19
20
21
22
23

Zit

(A)

.1

4.2
6.5
3. 3
.4
2.3
11.8

l. 0
19.0
3. 3
l
4.5
7
4.2
•5
2. 5
13.0

1.1
20. 7
3. 3
1.1
4.Q
7.9
3.8
.4
2.6
14.2

1.2
23.4
2.9
1.1
5.5
8. Q
4. 4
.5
2. 7
15. 9

1. 3
26.0
2. 7
I. 3
6.0
9. 7
4. 7
.6
2 .8
17. 4

l. 3
27.9
2. 5
1. 7
6.1
10. 3
5. 1
•7
3. 2
19.0

l. 5
30. 6
2. 2
l. 7
7. 3
11.0
6.1
•8
3. 3
20.9

l. 7
33.7
2.0
1.9
8. 0 6
11. 8 7
7.I 8
.9 9
3.9 10
24. 3 11

31.4
8.0
l.0
1.2
11.2
1.2
-.1
l.2
.5
.1
1.6
•7
.2
4.6

33.8
8 .4
1.0
1. 3
12.5
1. 3
-.I
l. 3
.4
.1
l. 7
.8
.2
4. 9

36. 8
7
1.1
1.4
13. 7
1 .3
-. l
1.6
.4
.1
2 .1
.9
.2
5.6

40. 2
Q. 3
1.1
l.5
15.2
1.2
-.2
1 .8
.4
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2. 3
1.1
•2
6.1

43. 3
10.0
1. 2
1 .1
11.0
1. 2
-.2
1.9
.5
.1
1. 5
1.4
•3
6 .5

46. 7
10.6
I. 3
1.9
18. 7
1. 2

50. 1
10.9
1.4
2. l
20. 2
l.4

54.5
11.4
l.5
2.3
22. 0
I. 7

2. I
•5
•2
1.6
I. 7
•2
6. 8

2. 3
•5
.2
1.9
2. I
•3
7.4

2. 5
•7
•2
1 .9
2. l
•3
8. 0

61. 0
11. 7
I. 6
2 .4
25. 3
2
-•l
2. 8
.9
•2
2. 3
2.4
•3
8 .9

16. l

16. 7

18.0

19.2

19. B

23. 3

25. 9

27. 7

30.9

34. Z 26

.3

•3

.4

.6

•7

•7

•6

.5

.6

.6 27

l. 5

1.6

1.6

1.7

I. 7

1. 9

2. 0

2. 2

2.4

2. 8 211

.4
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•2
.1

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.1
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I. 3 H
.1 3Z

3.4

3.5

3 .4

3.3

3.0

2. 8

2. 7

2. 5

2. 2

2. 0

1. 7 33

13. 9
4.6
•8
3. 2
4.3
2. 3
.4
2. 4
2

s.

.8
15. 7
4.3
.8
3.6
5.l
2.l
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2.4
9.5

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16.6
4.0
.9
3. 8
5. 9
2. 7
•3
2 .4
l 0.6

.1
4.5

26.6
7.1
.8
.9
8. 3
1. 2
-.1
1. 0
•8
.1
1. 5
•7
.1
4. 2

28.6
7.6
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1.1
9. 7
1. 3
-.1
1.1
.6
.1
l .O
.8
.2
4.3

ll.2

14.2

•2

4.6

l. 0
2.9
3.6
3.4
.4
2. 5
8.3

.1

.9
17.8
3.6

.o
.o

s.

z.

12
13

14
15
16
17
Ill
19
20
21
22
23
24
25

OEPOS ITS

27

COML. BANK L IAB. TO FGN. BRANCHES
ASSET-REST OF THE WORLD

21

OEP. AT AG.OF FGN. BANKS IFINANCE N.E.C. LIAB. I
l.6
1.5
ASSET-REST OF THE WORLD

29
30
31
32

FOREIGN CURRENCY EXCEPT OFFIC !AL-.5
LIABILITY-REST OF THE WORLD
ASSET- CORPORATE BUSINESS
.4
u. s. GOVT.
COMMERCIAL BANKS

33

l'OST Al SAVINGS OEPOSITSIU.S.GOVT. LUB. I
ASSET - HOUSEKILOS
3.0

.4

.

.2
.1

.

•7

IBl EQUITIES

35

DIRECT FGN. INVESTMENT BY U.S.CORP.
7. 2
L IAB.-REST OF THE WORLD
0 IRECT INVESTMENT IN U.S.
ASSET-REST OF THE WORLD
2. 5

36

u.s. GOVT. EQUITY IN IBRO, ETC.
L IAB IL ITY-REST OF THE WORLD

31

oEl'tlsns AT FHLB I S.+ L.ASSNS. ASSET!
LIABILITY-SPONSORED CR.AGS.

34

31
3.

40
"1

42

43

EQUITIES IN U. S.G.CR .AGENCIES
U.S.GOVERNMENT
"IVATE
NONFARM NONCORI' • IIICI
FAM BUS. IFICB + FLBI
CORPORATE BUS.IFNMAI
SVGS.+ LOAN ASSNS.IFHLBI


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.6

7. 2

8.4

9.6

10. 7

11. 8

13. I

14. 8

16. 3

17.6

19. 3

22.2 3't

2. 5

2.6

2 .8

2.9

3.4

3. 7

3 .9

4. 3

4. 6

5.1

5.5 35

.6

.6

.6

.6

.6

.6

.6

.6

.6

.6

.T 36

.1

.l

.l

.6

.6

.6

•3

•3

.4

•6

•8

•7

• 7 37

•6
•3

.6

.z

•7

.z

.8
.2

•9
•3

I .O
•3

1.1 38
• 3 39

.1

.

.2

.6
.3
.1

.1

.1

.1

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.1

.1

.2

•3

•3

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.4

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.7
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. .
•1

.1

•1

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.

..

40
• 2 ltl
42
.6 "3

FEBRUARY, 1970
MISCELLANEOUS I

Ml SCELLANEOUS I
MISCE LLANEOUS FINANCIAL CLAIMS
CBILLIONS OF DOLLARS I

85

85

YEAR-END LEVELS, 1957-68
-----------------------------------------------------------------------------------1958
1960
1959
1957
1962
1961
1963
1965
1966
l96't
1967
1968
-----------------------------------------------------------------------

YEAR-ENO LEVELS, 1957-68

.

.

l

TOTAL LIABILITIES
HOUSEHOLDS
CORPORATE BUSINESS
u.s. GOVERNMENT
SPONSORED CR. AGENC JES
LIFE INSURANCE COMPANIES
NONL JFE INSURANCE COMPANIE S
COMMER Cl Al BANK ING
SAVINGS INSTITUTIONS
FINANCE N.E.c.
REST OF THE WOR LD

103.6
1 .8
35.9
1.7
2. l
8.6
12 .8
7.'t
1.0
4.1
28. 0

111.5
2.0
38.6
1.5
2.4
9. 3
13.7
8.l
1.2
4.lt
3 0.3

120.9
2.2
lt2.5
l .3
2.3
9.5
14.8
9 .9
1. 5
3.9
33.0

132.7
2.lt
46.6
1. 2
2 .9
10.5
15. 7
10.9
1.6
lt.3
36. 8

129.6
2.5
36.0
1.0
3. 3
11.5
16. 5
13.0
1.9
4.6
39.2

138.9
2.7
41.3
•8
3.4
12.'t
17.2
12.5
2.0
4.5
42.0

150.7
2.9
lt5.3
•7
3.'t
13. 2
18. 3
14.l
2. 3
4.7
lt5 .8

162.6
3. 0
't8.8
.6
3.6
l't.O
19.6
15.5
2.6
5.lt
lt9.5

178.5
3.3
53. 8
•6
3.6
15. 2
21. l
18.9
2.9
5. 0
5't. 2

198. 5
3.7
60.5
•2
It. 0
16.lt
22. 9
23.8
3.2
5.4
58.4

217.3
3.9
66.3

67.2
12.0
1.6
2. 6
29.0
2.9

72.0
12.3
l. 7
2. 7
31.6
3.2

77.7
12.8
1 .8
2.9
34.6
3.lt

25

TOT. A L ASSETS
HOUSEHOLDS
FARM BUSINESS
NONF ARM NONCORPORAT E BUSI NE
CORPORATE BUSINESS
u. s. GOVERNMENT
SPONSORED CR. AGENC JES
LIFE INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S.+ L. GO VT. RTR. FUNDS
COMMERCI Al BANK ING
SAVINGS INSTITUTIONS
BANKS IN TERR.AND POSS.
REST OF THE WORLD

3.0
1.0
•3
2. 7
2.7
.It
9.0

3. 3
1.0
.3
2. 8
3. 2
.5
9.6

3.6
1.2
.3
3.0
3. 3
.It
10.4

86.1
13. 3
1.8
3.0
38.5
4.1
•1
3.9
1.4
.4
3.8
3.8
.It
ll.lt

93.9
13.8
1. 9
3. 2
42.2
't.4
.1
lt.3
1 .5
.It
It. 5
4.8
.4
12.2

100.4
l't.3
2.0
3. 3
lt6.4
lt.6
.2
4.6
l.7
.5
5.0
5.5
.5
12.1

108.7
14.8
2.l
3. 5
5[.8
4.9
.1
lt.9
1.7
.5
lt.9
6.2
.5
12.6

116.9
15. 7
2.3
3.8
55.lt
4.8
.1
5.3
2.0
.6
5.5
1.0
.7
13.7

127. 8
17.0
2. 5
4. 1
62.1
4. 7
•1
5.7
2.4
•7
6.2
7. 7
•8
13.9

137.5
18.2
2. 7
4.lt
64.8
lt.4
•3
6.0
3.0
.7
7.1
8. 2
.8
16.9

150.9
19.9
3.0
lt.9
70.2
4.3
.3
6.9
3.8
.8
8.3
9.2
.9
18.5

26

UNALLOCATED, NET

36.lt

39.'t

43.l

lt6.7

35.7

38 .5

42.0

45. 7

50.7

61.0

66.5

81. 8 26

.3

l
2
3

,.

5
6
7
8
9
10
11
12
13
lit
15
16
17
18
19
20
21
22
23

Zit

. . .

4.4
18.2
25 .o
26.8
3.6
6.2
62 .8

243.'t
... 3
73.8

2
3

,.

4.2 5
19. 7 6
27.'t 7
37.l 8
... 1 9
6.6 10
66.2 11
161.6
21.6
3 .3
5.3
72.6
,._ 1
.3
7.5
't.O
.9
10.2
9.4
1.0
21.lt

12
13
lit
15
16
17
111
19

20
21
22
23
2't
25

I Al DEPDSITS
27

COML. BANK LIAB. TO FGN. BRANCHES
ASSET-REST OF THE WORLD

.5

.9

1.0

.9

1.0

1.1

1.4

... 0

4 .2

6.0 27

28

OEP. AT AG.OF FGN . BANKS (FINANCE N.E .C. LI AB. I
ASSET-REST OF THE WORLD
3.1
2.9

3.2

3.6

3.8

3.6

3.6

lt.2

3. 7

3. 8

4.3

It. 5 28

29
30
31
32

FOREIGN CUIIR ENCY EXCEPT OFFIC JAL-LIABILITY-REST OF THE WORLD
2. 1
ASSET- CORPORA TE BUSINESS
.1
u.s. GOVT.
1. 8
COMMERCIAL BANKS
.1

2.lt
.1
2.1
.1

2.6
.l
2 .It
.1

3. 2
.1
2.9
.1

3.5
.2
3.0
•3

3.6
•3
3. l
.2

3.9
•2
3.4
.3

3.9
.2
3. 3
.3

3. 7
.2
3. 2
•3

3. 2
.1
2. 8
•3

3.2
•2
2.7
.3

3. 3 29
30
2.6 31
.3 32

J3

POSTAL SAVINGS DEPDSITSCU. S.G OVT. LI AB. I
ASSET - HOUSEHOLDS
1.4

1.2

1.0

.8

•7

.6

•5

.4

.4

.l

27.3

2 9.7

32. 7

34.7

37 .2

ltO. 7

lt4.lt

49. 2

53.9

58. 3

61.4 31t

6.1

6.6

6 .9

7.4

7. 6

7.9

8 .4

B. 8

9.l

9.9

10.8 35

.7

•7

•8

1. 0

1.1

l. 2

1. 2

1. 3

l. 3

1.4

1.5 36

.3

181 EQUITIES
34
35
36
37
38
39
40
ltl
42
lt3

DIRECT FGN. INVESTMENT BY U.S.CORP.
LIAB.-REST OF THE WORLD
25. 2
DIRECT INVESTME NT IN U.S.
ASSET-REST OF THE WORLD
5. 7

u.s.

GOVT. EQUITY IN IBRD, ETC.
LI ABIL ITY -REST DF THE WORLD

•7

OEPOSITS AT FHLB I S. + L .ASSNS. ASSETJ
LIABI LITY-SPONSORED CR.AGS.
•7
EQUITIES IN U.S.G.CR.AGENCIES
u.s.GOVERNMENT
PRIVATE
NONFARM N O NCORP. I BC I
FARM BUS. IFICB + FLB I
CORPORATE BUS. IFNMAI
SVGS.+ LOAN ASSNS.CFHLBI


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.

33

.8

•6

.9

l .z

l .z

l. 2

1. 2

1.0

1.0

1.4

1.4 37

1.1t
.4

l. 5
.4

l.7
.4

1.8
.4

1.9
.4

1.9
•3

1.9
.2

2.0

2. 3
•3

2.4
•3

2. 2 38
39

.1
.2
.1
1.1

.1
.2
.1
1.1

.1
•3

.1
.3
.1
1 .2

.1
•3
.1
1. 3

.1
.4
.1
1.4

.1
.4
.1
1 ·"

.1
•5
.2
l.lt

•2

.

.1

•8

1. 3
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...

•2

.2
.1
.9

.2

.1

1.0

.1

1.2

.2

-

40
41
42
43

FEBRUARY, 1970

MISCELLANEOUS II

Mt SCELUNEOUS II
Mt see LLANE DUS Ft NANCI Al CLAIMS C CONT INUEO I
I8 ILLIONS CF, D OLLARS)

86
YEAR-ENO LEVELS, 1945-56

----------------1945

CCI

1946

1948

1949

1950

•8

.8

.9

l .7
.1
l.6

1.9
.2
1.7

5. l
1.0
1.1
•8
2.1t

-----------YEAR-END
1954
1953
--------------------------1951

l c;52

1.0

1.1

1.2

1. 3

2. l
.2
1.9

2.4
.3
2.1

2.6
.3
2.3

2.9
.4
2.5

5.9
1. 2
1 .2
.e
2.6

6.5
l.4
1.3
.9
2.9

1.0
1.4
1.1t
.9
3.3

7 .9
1 .5
1. 5
1.0
3.8

8.9
1.7
1.7
1.1
lt.4

LEVELS, 1945-56
1955

1956

1.3

1. 5

1. 7

l

3. 3
.5
2.8

3.6
.5
3. I

4.0
.6
3.4

4.4
.6
3. 8

2
3
4

9.7
1. 8
1.9
1. 2
4.9

10.3
1. 9
2.1
1 .2
5. 1

11.0
2.0
2.3
1. 3
5.lt

11.e
2.4
2.4
l.lt
5.6

5
6
7
8
9

LIFE INSURANCE CLAIMS

DEFERRED ANO UNPAID PREMIUMS I LIFE INS. ASSETI
LIABILITY - HOUSEHOLDS
.6
.7
2
3
4

1947

86

l lFE COMPANY RESERVES' C HOUSEHOLDS ASSET I
1.4
l.6
LI A8Il ITV- l JFE INSURAICE
.1
.1
ACCIDENT ANO HEAL TH
POL ICY DIVIDEND ACCUM.
l.5
1. 3
IOI NONLIFE INSURANCE CLAIMS

5
6
7
B
9

l JAB ILITY - OTHER INSURANCE
ASSET- CORPORATE BUSI NESS
NONFARM NONCORP. BU
FARM BUS !NESS
HOUSEHOLDS
IE I

10

11

12
13
14
15
16

17

18
19
20
21
22
23
24

25
26
27
28
29
30
31
32

3.6
.4
.B
.5
1.9

U NALLOCATED ASSETS ANO LIAS ILITIES

NET TOTAL IL JAB. - ASSETS I
TOTAL LIABILITIES
CORPORATE BUSINESS
u. s. GOVT.
SPONSORED CR. AGENCIES
SAVINGS INSTITUTIONS
LIFE INSURANCE
BANKS IN TERR.ANO POSS.
MONETARY AUTHORITIES
COMMERCIAL BANKS
FLOATS IN COHL. BANK STHN
ON INTERBANK OEPOSI TS
ON INTERBANK LOANS
LESS- ON H.B. RESERVES
TOTAL ASSETS
CORPORATE BUS !NESS
SPONSORED CR. AGENC TES
COHHERC IAL BANKS
SAVINGS INSTITUTIONS
LIFE INSURANCE
PRIVATE PENSION FUNDS
S.+ L.GOVT. RTR.FUNO S
BANKS IN TERR. ANO POSS.

11.2

llt.2

16.1

16. 7

18.0

19.2

19.8

23.3

25.9

27. 7

30.9

34. 2 10

15.8
8.2
1.6
.3
.It
1. 5
.9
.4

1 7. 8
11.lt
1.2
.1
.4
1.6
.9
.5
.1

19.0
13.1

21.lt
llt.9
•3
.1
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2.1
.8
1.0
1.0

23. 2
15.6
.3
.2
.5
2. l
•8
l .3
1. 2

Zit.3
17.1
.5
•1
. It
2 .2

27.lt
19.4
•3

30.lt
21.7
.2

32.8
23.2
•2

36.lt
25.6
.2

.9
l.lt

.5
2.6
.9
1.0
1.9

.6
2. 8
.9
1.1
2. l

•7
3. l
.9
l .z
2. 6

.8
3.3
1. 0
1.2
3. 3

ltO. 7
28. 2
.3
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3.6
1.0
l. l
4.4

ll
12
13

.,

20.0
13. 8
.6
.1
•3
1.9
.B
•7
.8

2. 5
2.4
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1. 5
l .2
.3

.9
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l .o
•7
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1.1
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•8
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•8
.7

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•8
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-.1

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1.0
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-.2
-.3

1.1
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-.2
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20
21
22
23

4.6
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-.1
2.5
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•3
.9
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3.5
•3
-.l
1.4
.6
.3
.8
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2.9
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-.l
.8
.6
.3
.6
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3.3
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-.l
l. 5
.4
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.5
.1
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3.lt
.4
-. l
1.6
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.4
.4
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3.9
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-.l
1.8
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4.5
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-.2
2.2
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•7
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4.l
•5
-.2
1.4
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•8
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It. 5
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5. l
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5 .It
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1. 5
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.B
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•2
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l .8
•9
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1.8
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1.0
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6. 5
.6
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2. 2
1.1
1.1
.9
.2
.3

24
25
26
27
28
29
30
31
32

-2.1
13.3
2. 5
2.5

2.2
13.2
1. 7
1. 5
.1

2. 6
llt.l
l .2
.9
.3

3. 5
15.7
l.7
.9
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5.5
l7. 3
1.9
1.0
1.0

9.9
19. l
2.3
1.1
l.2

11.4
20.0
2.2
.8
1.4

14.l
22 .5
2.7
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1.9

18. 5
24. 7
3. l
.9
2.l

21.5
27. 2
3.4
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2.6

21t .It
29. 7
4.3
1.0
3.3

28.3
33.0
5.4
1.1
4.4

1
2
3
4
5

.4

.4
.1
7.5
1.5

.3
.1
8.7
l.5
•8
.9
•7

.3
.1
9.7
1.6
.9
•8
•7

.3
.1
10. 7
1.6
.9
•8
1. 0

.4
.1
11.5
1.7
1.0

•3
.2
12 .0
1.7
1.1

l.3

.9

•3
•2
14.4
1.9
1.1
.9
1.0

.4
•2
15. 8
2.0
1.3
.9
1.1

•4
.3
l 7. O
2. 2
1. 7
.9
1. 2

•5
•3
18.4
2.4
1. 7
1.0
1.2

.5 6
.4 7
19.8 8
2 .8 9
1.9 10
1.0 11
1.1 12

3.7
2. 7
1.0
-.1

4. 2
2.7
l.6
-.l

4.5
2.8
l.7
-.1

5 .2
3.2
2. l
-;l

5.7
3. 6
2.3
-.2

5.6
4.3
1.5
-.2

6.2
4. 7
1.6

7. 3
5.4
1.9

7.7
5 .8
1.9

.

9
10
ll
12

SVGS+LOAN ASSN S.
HUT. SVGS. BANKS
INSURANCE
AGENCIES OF FGN BANKS
SPONSORED AGENCIES
BANKS IN TERR.+ POSS.
MONETARY AUTH.

6.4
1.6
1.0
.9
.4

13
14
15
16

- MISC. FINANCIAL ASS ETS
PRIVATE NONBANK FI NANCE
COMMERCIAL BANKS
SPONSORED CR. AGENCIES

5. l
2. 7
2. 5
-.1

8

17

TAXES PAYABLE

18

19
20
21

-CORPORATE STOCK HELO
+INVEST. co. SHARES LIABIL IT
+INSUR. RES. IN CORP. STOCKS
-NET SECUR TTY CR ED IT HELO

22
23
24
25

NET FINANC JAL INVESTMENT
-GOL C t O FF FGN EXCHANGE
-TREASURY CU R RENCY
-TRADE CREDIT


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

.8

.1

.4

1.8
.9
•7

.e

. . .

. .

.

.
. .

14

15
16

17

18
19

--------------------------------------------------------------------------------------------COMPONENTS OF "SOURCES N.E. C." IN F INANC I Al SUMMARY
----------------------------------------------------------·
-----------------------------------

l SOURCES N .E.c.
MISC. FINAN. l lAB ILITI ES
2
COMMERCIAL BANKS
3
FLOATS
4
UNALLOCATED
5
6
7

4.3
•7
.9
.6
2.1

.8

.9
•5
4.1

2.7
1. 5
-.1

•8

.8

8.9 13

6. 7 lit
2 .3 15
-. l 16

.It

.5

.4

•5

•7

.9

1.1

1.4

1. 9

1.6

1.3

5. 2
l.3
l .2
4. 2

5. 4
1. 3
l. 5
l. 5

5.8
1.4
l. 8
1.2

6. l
l.5
1.9
.9

8.7
3. l
2.3
1.1

10.2
3.3
3.2
1.6

11.2
3. 5
3.6
1. 5

12.9
3.9
4. 3
l .8

llt.O
4. l
5. 0
2. 3

19.l
6.1
6.5
3. l

25.2
7.8
9.8
3.9

21.2
9. 0
10. 7
3.9

18
19
20
21

20.0
20.1
4. 2

22. l
20. 5
4.4
•5

23.l
22 .5
4.4
.6

24. 2
24.0
4.4
•7

25. 7
24. l
4.4
•7

28.2
22.7
4. 5
•7

29.7
22.7
4.6
.9

30. 9
23. 2
4. 7
.9

32.9
22.0
4.7
l. 0

37. l
21.7
4.8
1.1

40.2
21.6
4.9
1.2

42. l
21.9
4.9
1. 3

22
23
24
25

.4

1. 5 17

fEllllUARY, 1910
MISCELLANEOUS II

Ml SCELLANEOUS JI
Ml SCELLANEOUS FINANCIAL CLAIMS I CONTINUED I
(BILLI ONS O F DOLLARS I

87

Y EAR-END LEVas, 1957-68

--------------------------------------1966
1961o
1965
1968
-------------------------------1967
------

1960

1961

1962

1963

DEFERRED AND UNPAID PREMIUMS (LIFE INS. ASSET!
LI A81l ITY - HlUSEHlLOS
1. 8
2. 0

2 .2

2.1o

2. 5

2. 7

2.9

3.0

3. 3

3. 7

3.9

lo.3

1

l lFE. C OMPANY RESERVES I HOUSEHOLDS lSSETI
LI ABILITY- LIFE INSURANCE
"· 8
5.l
lCCI DENT ANO HEAL TH
.1
.7
4.1
POLICY OIVIOENO ACCUM •

"·"

5.5

•8

6.0
.9
5.2

6.5

"· 7

7.1
1.0
6 .1

1 • .r,
1.1
6.2

7 .8
l .3
6.5

8. lo
1• .r,
1.0

CJ.I
1. 7
7. 5

10.1
2.1
7.9

11.0
2. 5
8. 5

4

13.7
3.5
2. 7
1.5
6.0

llo. 8
lo.l
2.9
1.6
6.3

15.7
lo.1
3.0
1.6
6.lt

16.5
5.l
3. 1
1.7
6.6

11.2
5 •7
3. 3
1.7

19.6

6.6

18.3
6.0
3.5
1.9
1.0

21.l
6.8
lo.0
2. 2
8. 2

22.9
7.3
It. 3
2. 3
8.9

25.0
8.0
"· 7
2.6
9.8

27.4
8. 8
5 .2
2. 8
10. 7

CCI

2

--------

1959

1957

"3

----------

87

YEAR-END LEVELS, 1957-68

1958

LIFE INSURANCE CU IMS

.9
5.6

2
3

I DI NONL IFE INSURANCE C LAIMS
5
6

7

8

9

llAB ILITY - OTHER INSURANCE
ASSET- CORPORATE BUSINESS
NON FARM NONCORP. BU
FARM BUSINESS
HOUSEHOLDS
IE I

10

11

12
13

1"

15
16
17
18
19

20
21
22
23
2'25
26
27
28

zq

30
31
32

12.8
3.0
2. 6
1.4
5.8

6.lo

3.7
2.0
7.5

5

6
7
8
9

UNALLOCATED ASSETS ANO LIAB ILITIES

NET TOTAL ILIAB. - ASSETS I
TOTAL LIABILITIES
CORPORATE BUSINESS
u.s. GOVT.
SPONSORED CR.AGENCIES
SAVINGS INSTITUTIONS
LIFE INSURANCE
BANKS IN TERR .ANO POSS.
MONETARY AUTKJRITIES
COMMERCIAL BANKS
FLOATS IN COML. BANK STMN
ON INTERBANK DEPOSITS
ON INTERBANK LOANS
LESS-ON M .B . RESERVES
TOTAL ASSETS
CORPORATE BUSINESS
SPONSOR ED CR. AGENCIES
COMMERC I Al BANKS
SAVINGS INSTITUTIONS
LIFE INSURANCE
PRIVATE PENSION FUNDS
S.+ L.GOVT. R TR. FUN OS
BANKS IN TERR.ANO POSS.

36.lo

39.lt

43.1

lt6. 7

35. 7

38.5

lt2.0

lt5.7

50. 7

61. 0

66.5

81. 8 1 0

"3.9

lt1.lo
32.5
•3
.2
1.2

51. 8
35.9
.3
.2
1.5
4.0
.6
1.0
7.1

57.0
39.7
•3
.3
1.6

1t8 .e
28.6
.3
.3
1.9
lt.9
1.2
8. 5

60.2
37.3
.2
.3
2.3
5.8
1.1
1.3
10.3

65.5
lt0.lo
.1
.5
2.6
6.2
1.3
.9
11.9

7".2
lo5. 0
•2
.5
2.9
6. 8
1. 3
.9
13.5

81t.O
51.lo
.1
.6
3.2
7.3
1.6
•8
14.8

93.2
56.lt

l .2
7. 5

51t.2
33.7
.2
.3
2.0
5 .3
.9
1. 3
e.1

109.6 11
63.0 12
13
.6 lit
1o.1 15
8. 8 16
2.l 17
1.1 18
19.8 19

1.2
l .2
-.3

2. 3

1. 7
.9

1. 5
1.1
.1
-.3

1.5
•7

·"
-.5

3. l
1.0
1. 7
-.5

lt.l
1. 7
1.7
-. 7

"·7
2.2
1.8
-.7

10.2
3. 0
6. 5
- .6

20
21
22
23

18.2
4.8
.1

19.8

23.5
5. 8
.1
5.9
2.lt
2.lt
•7
•8

23.0
3.3
•3
6.9
5. 7
2.3
3. 0
•7
.8

26.7
3.6
.3
B. 0
6.3
2.'l
3. 8
•8
.9

27.7
1.9
.3
9.9
6.6
3. 2
lt.O
.9
1.0

Zit
25
26
27
28
2'1
30
31
32

100. 9
'13.1
30.0
10. 2
19. 8

"
5

30.2
.3
.2
1.0
3.8
l .2
1.l

lt.l

5.4

1.3
1.3
5.7

.6
.9
-.3
-.1

.9
-.3
-.1

1.2
1.1
-.2
-.2

7.5
.6

8.0
.6

8.7
.6

2.6
1 ·"
1.2
1.0
•3

2. 7
1.6
1.3
1.0
•3
.5

.8

. .

·"

•
2.9

1.8

1 • .r,

1 .2
•3

"·"• 7

.8

.

-.lo

-.5

·"
-.It

10.3
.9
.1
3.7
l.'l
1.6
l.lt
.It
.It

13.1
2.l
.1
lt.3
2.5
1.8
1.5
.It
.It

15.6
3 .1
.2
It. 7
3.1
1.'l
1.7
.5
.5

1.8

lt.6

3.'l
2. 1
1.7
.5
.5

lt.4

.1
5.2
lt.6
2.2
2.0
.6
•7

5."

·"
---------------------------·
------------------------------------------------------------------------------

COMPONENTS OF "SOURCES N.E .C." IN FINANC !Al SUMMARY
1 SOORCES N.E.c.
MISC. FINAN. LIABILITIES
2
3
COMMERC !Al BANKS
FLOATS
UNALLOCATED
5

"

6
7
8
9
10
11
12

SVGS+LOAN ASSNS.
HUT. SVGS. BANKS
INSURANCE
AGENC !ES OF FGN BANKS
SPONSORED AGENC !ES
BANKS IN TERR.+ POSS.
MONETARY AUTH.

13
lit
15
16

-Ml SC. FINANCIAL ASSETS
PRIVATE NONBANK FINANCE
COM HERCIAL BANKS
SPONSORED CR. AGENC !ES

30. 7
35.8
6.0

36. 8
38.7

5. 4

.6

·"

.6

21.lt
2.9
2.1
1.2
1.1

.

10.2
1.lo
2 •7

.6
3.6
8. l
1.9
.9
16.9

-

---------------------------

5. 7

ltl.7
ltl. 3
8.3
1. 2
7.1

lt8 .6
""·9
8.7
1 .2
7 .5

53.B
lt9.8
10. 8
2. 3
8.5

58. 3
51.3
10.lt
l•7
8. 7

61.l
55.1
11.8
1.5
10.3

67.8
5'l.6
13. 5
1.5
11.9

75.lt
65.3
16. 6
3.1
13.5

81. 7
71.6
18.'l
4.1
llt.8

87.l
so. 1
21.6
"·7
16. 9

•7
•5
22. 9
3.1
2.4
1.3
1.3

.9
.6
Zit. 3
3.2
2.3
.6
1.0

1.0
.7
26.2
3.6

1.1
.8
28 .o
3.8
3.3
•8
l .2

1 .2
.8
29.7
3.6

l. 4
.9
31.5
3.6

.9
1. 3

1.1
1. 3

1.6
1.0
33.6
lt.2
3.6
1. 3
.9

1. 7
1.1
36.3
3. 7
3.6
1 .3
.9

2. 1
1.1
39.3
3.8
4.0
l. 6
.8

2.lt
1. 3
43.2
4.3
4.4
1. 9
.9

2. 7 6
l.lt 7
47. 2 8
4. 5 9
4.2 10
2. l 11
1.1 12

11.1
8.2
2.8

11.8
8.8
3.0

13.9
9 .'l
3.8
.l

16. 1
11.4

17.8
12.6
5.0
.2

18.'l
13.9
lt.9
.1

21.2
15.6
5. 5
.1

23.6
17 .3
6. 2
.1

26. l
18. 7
7. l
•3

30.2
21.6
8.3
.3

33. 3
22. 8
10. 2
•3

6.lt
.8

z.ci

.7
1 .2

4.5

.l

3.4

3.lt

13

llo

15
16

17

TAXES PAYABLE

1.6

l. 7

l.7

2.4

1.1o

1.9

1.5

2.3

1.8

l. 8

l. 7

18
19
20
21

-CORPORATE STOCK HELD
+INVEST. co. SHARES LIABILIT
+INSUR. RES. IN CORP. STOCKS
-NET SECURITY CREDIT HELD

26.7
B. 7
11.1
3.lo

37. 3
13.2
15. 9
4.3

lt3.8
15.8
19.lt
lt.5

47. 5
17.0
22.0
4.2

62. 'l
22.9
29.7
5. 5

59.9
21.3
29.0
5.4

72.6
25.2
35. 8
7. 3

82.'l
27 .2
42. 7
7.2

98. 5
35. 2
50.lt
7.5

'14. l
31t. 8
4'l.4
7. 3

123.2
44. 7
64.0
'l.5

143.1
52. 7
76. 9
10. 8

18
19
20
21

22
23
21o
25

NET FIN •NCIAL INVESTMENT
-GOLD & OFF FGN EXCHANGE
-TREASURY CURRENCY
-TRADE CREDIT

lo2.9
22. 8
5.0
1. 5

"7.1
20.5
5. l
1.6

50. 0
19.lo
5 .2
1.8

52 .8
17.7
5. 2
1.9

58 .9
16.8
5.4
2.0

61. 5
16.0
5.4
2.2

65. 7
15.6
5.4
2.3

70. 7
15.6
5 .2
2.5

H.7
14.3
5."
2.6

74. 6
14.0
6. 2
2.9

82. 8
13.5
6.6
3. 2

86.6
12.4
6 .8
3. 5

22
23


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1. 6 1 7

21o

25

FEBRUARY, 1970
s.E.c. SAYING IIY IN OJV IOUALS

S .E.c. SAVING BY INDIVIDUALS
INDIVIDUUS' SAVIHG--S.E.C. PRESE1'l'ATION
I Billi ONS OF DOLLARS I

88
YEAR TOTALS, 1946- 56

-------------

1946

-------------------------

88
YEAR TOTALS, 19 46-56
-----------------------------------------1952
1954
1955
1956
1953
------------------------------------------

1947

1948

1949

1950

1951

9.2
-2 .5
2. 3
2.0
1.6
-1.6
.1
1.1
-.2
.1
.9

10.0
-1.9
2.6
2.1
1. 5
-.3
-.1

13. 7
2 .2
2.5
.2
.3
-.5

18.0
4.6
4.5
.9
-.5
-. 7
•3
.4
-.2
•3
1. 3

21.4
1. 7

-.9
•3
.8

13.3
-.5
3.4
2.1
2.1
-.3
.1
.4
-.8
.2
.9

•• 5

.1
2. l

1.1

2.6
.4
.5
1. 8
2.9

2.5
.5
.6
l .8
2.4

2.6
.6
.6
1.5
2.l

2.6
.6
.6
1. 7
l.6

l .7
l. 8
l.9

2.5
1.0
1.1
l.6
l.9

1 7 GROSS INV. IN TANGIBLE ASSETS
18
NONFARM HOMES
19
NONCORP BUS.CONS TR + EQUIP•
20
CONSUMER DURABLES
21
INVENTORIES

28.5
5.5
6. 8
15 .8
.4

3 7 .0
8.3
10.0
20.4
-l.7

48 . l
12.l
10. 7
22. 7
2.1

44. 7
10. 7
10.8
24.6
-1.4

60.2
15.6
12. l
30.5
2. 0

22 CAPITAL CONSUMP. ALLOWANCES
NONFARM HOMES
23
NONCORP.BUS. PLANT + EQUIP.
2♦
25
CONSUMER OURABl ES

15. 2
1.3
3. 9
10.0

19.3
1. 5
5 .o
12 .9

23. l
1.6
6.0
15.5

26.2
l. 7
6.9
17.6

26 N ET JNV. IN TANGIBLE ASSETS
27
NONFARM HOMES
28
NONCORP BUS.CONSTR.+ EQUIP
29
CONSUMER DURABLES
INVENTORIES
30

13.3
4. 2
2.9
5.8
.4

17.6
6 .9
4.9
7.5
- 1.7

25.0
10 .5
4.7
7.l
2. 7

6. 3
3. 8
•9
2. 7
-2. 7
-.1
1. 7

10.2
4 .3
l .2
3.2
-.4

l 0.5
5.0
1.1
2.8
-.3
.1
l. 7

25.4
1. 8
5. 8

20.7
l .8
7.5

23.6
l .5
7.l

.l
.1
1 7. 7
15. 2
2.5

•l
11.3
7. 3
4 .0

14.9
13.4
1.6

l INCR. IN FINANCIAL ASSETS
l
CURR. ANO DEMAND DEPOSITS
SAVINGS ACCOU NTS
3
SECURJTI ES
4
u.s. SAVINGS BONDS
5
OTHER U.S. TREASURY SEC.
6
u.s.G AGENCY SECURITIES
7
ST ATE + LOCAL OBL IGATJONS
II
CORP. ANO FOREIGN BONDS
9
INVESTMENT CO. SHARES
10
OTHER CORPORATE STOCK
11
12
13

14
15
16

PVT. LIFE INS. RESERVES
PVT. INSURED PEN. RESERVES
PVT. NONINSUREO PEN. RES.
GOVT. INS. + PEN. RESERVES
MISC. FINANCIAL ASSETS

31 INCREAS E I N DEBT

32

33

34
35
36
37

MTG. DEBT ON NON FARM HOMES
NONCORP BUS. MTG. DEBT
CONSUMER CREDIT
S ECUR ITV CREDIT
P OL ICY LOANS
OTHER DEBT

3 8 INDIVIDUAL SAVING! 1+26-311
39 LESS- GOVT. INS+ PEN RESERVES
NET INV. IN CONS. OUR
40
CAPITAL GAINS DIVIDENDS
FROM INVEST. COS.
4l
NET SVG. BY FARM CORPS.
42
43 EOUALS PERS SAVING( SEC BASJS I
44 P ERSONAL SAVING, C OMMERCE
45 DIFFERENCE 143-441


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1945

18.4
4.8
6.3
-.9
1. 2
-2. 5
•1

•

.4
•5

22. 3
1.9
9.2
1. 3
.6
-1.9
-.l
2.3
-.4
.5
.2

27.9
.8
8.8
8.1
•3
1.6
.6
3.4
1.1
.9
.2

2.1
1.1
l. 8
2.0
2.0

2.9
1.1
2. 0
1.9
2. l

3.0
1. 2
2.1
l.6
2.2

3.0
1.3
2.3
1.8
l.9

3.1
1.2
2. 7
2 .6
2. 3

l4
15
16

58. 7
15. 8
11.6
29.6
1. 7

56 .4
15.3
10.9
29. 3
.9

60.9
16.2
11.e
33.2
- .4

62.4
16. 8
12.4
32. 8
.4

74.9
21. l
13. l
39.6
1.0

72 .5
20. 2
13.5
38.9
-.2

17
l8
19
20
21

29.9
1.9
7.6
20. 3

35. l
2. 3
8. 7
24. l

37.5
2.4
9.3
25. 8

39.4
2. 7
9.8
26.9

41.t
3. l
10.l
28.0

43 .9
3 .5
10. 7
29. 7

48.3
3. 8
11.4
33.0

22
23
24
25

18.5
9.0
3.8
7.0
-1.4

30. 3
13. 7
4.4
10 .2
2.0

23.6
13.5
2.8
5.5
1.7

18.9
12 .8
1.6
3.6
.9

21. 5
13. 5
2.0
6.4
-.4

21.3
13. 7
2. 3
4.9
.4

31.l

2. 5
9.9
1.0

24.2
16.4
2. l
5. 9
-.2

26
27
28
29
30

9.3
4.l
1.5
2.9
.3
.2
.4

16.7
7.4
1.8
4. l

14.l
6. 4
1.1
4.8
•2
.1
.9

13. 6
7. 7
l .3
3.9
•5
•2
.1

15. 7
8.6
1.9
1.1
1.1

25.4
12.2
2.l
6.4

18. 2
l l .2
l .8
3. 5

.2
2. 5

11.2
7.1
1. 5
1. 2
-.2
.2
1. 3

•2

2. 8

.2
3. 8

31
32
33
34
35

.2 36
l .5 37

19.2
1.7
1.0

27.3
1. 8
10.2

30.3
l.6
5.5

26. 3
2.0
3.6

29. 9
1.9
6.4

27. 9
l.6
4.9

33.6
1. 8
9.9

31t.9 311
2.6 39
5.9 40

10.4
9.4
1.0

15 .2
13.l
2.l

• 3 41
42
26. 2 43
20.6 44
5 .6 45

.1

-.4
.3
.4

•

.6
-.8
.2
.5
2.6
•8

1.1

2.4
.1
-.2
-. l
l .O

22. 1
.5
8. 3
3. 3
.2

.

28. 9 1
1.2 2
9. 5 3
6 .3 4
-. l 5
.9 6
•3 1
2.3 8
.9 9
1.1 10
.9 11
12
13

------------------------------------------------------------------------------------------

11.1

---------------·-------------------------------------------------------------------------------

.

1.8

.1

-------------

. . .

.1

.1

•

-----------------------------

. . .

•

•l

.1

.l

.1

.2

23.l
17.3
5.9

20.6
18.2
2. 5

21.6
1 8.3
3.3

21. 3
16.4
4. 9

21.1
15 .8
5.9

.

FEBRUARY, 1970
s .E.c. SAVING BY INDIVIOU•LS

S.E .C. SAVING BY I NOi VIDUALS
INDIVIDUALS' SAVING--S .E .C. PRESENTATION
( 8 ILL IONS OF OOLLA RS l

89

89

-----------------------------------------------------------------------------------------------------------------------------------1966
1967
1965
1964
196 3
1958
1959
1960
1961
1962
1968
----1957
- --------------------------------------------- ---------- - ---- -------------------------------f EAR T OTALS, l957-68

l INCR. IN FINANCIAL A SSE TS
CURR. AND DEMAND DEPOSITS
2
3
SAVINGS ACCO UN TS
4
SECU RITIES
u .s. SAVINGS BONDS
5
OTHER u. s. TREASURY SEC.
6
U. S.G AG ENCY SECURITIES
7
STATE + LOCAL DBL !GA TIONS
8
C ORP. AND FOREIGN BONDS
9
INVESTMENT co. S HARES
10
OTHER CORPORATE STOCK
11

YEAR TOTALS, 1957-68

1.1
1.4
.1

34.9
.4
11.4
9.1
-1. 8
5 .3
1 .s
3.1
•3
1.7
-1.1

27. 7
-l.9
12.4
2.6
-. 3
.l
-.3
3 .4
.2
1.5
-1.9

34.9
l.3
17.4
1.4
.e
-l.4
-.1
1.4
•3
1.9
-1. 5

39 . 3
2.9
23.4
-l. 7
.4
-. 7
•3
.8
-.6
1. 8
-3. 9

44.9
5 .5
23. 0
1.0
1. 2
l.9
.4
•8
-.6
1. 2
-4.0

51 .3
t:. 5
23.9
3.6
.9
.5
.0
2.0
-.5
1.9
-1.9

56. 0
7. 3
26.4
3. 3
.6
1. 3
•2
2. 3
•7
3.1
-5.0

54.4
3.l
19.1
10. 5
.6
2. 6
4.2
2.1
2.o
3. 7
-4. 7

66.5
11.5
32. 5
-2.4
.9
-1. 3
1.1
-2.1
4.0
2.5
-7,4

2.6
1.6
3. l
2 .2
2.6

2.9
1. 5
3. 2
2. 5
3.0

2.8
2 .o
3. 7
3.0
2.6

3.1
1. 3
4.0
3.3
3.0

3. 3
1.4
4.0
3.5
2. 7

3 .6
1.4
4 .2
3.6
2.0

4.0
1.7
4. 5
3. 7
l. 5

4.2
2.0
4.9
4.2
2.0

4. 7
2. 1
5.6
4.8
1. 9

4. 5
2.l
6.1
5.3
3. 7

4.7
2.6
6. 7
6.0
4.8

4.6
2 .9
6.4
5.6
5. 7

12
13
14
15
16

17 GROSS INV. IN TANGIBLE ASSETS
NON FARM HOMES
18
NON CORP 8US.CONSTR + EQUIP.
19
CONSUMER OURABLES
20
I NV ENTORIES
21

73.3
18.1
13. 7
40. 8
.8

70. 9
17. 3
14. 7
3 7. 9
1.0

81. 9
21.4
15 .6
44. 3
.6

80.6
19. 7
15.0
45 .3
.5

78.5
17.6
16. 3
44.2
.5

87 .9
18.7
18.4
49. 5
l. 3

94.5
19.0
20.1
53. 9
1. 5

100.4
19.3
21.8
59.2

110.e
19. 1
23. 7
66. 3
1. 7

114.l
18.9
24. 0
70. 8
.4

115.5
16 .9
24. 7
73.0
1.0

131.4
21.2
26.2
83. 3
•8

17
18
19
20
21

22 CAPITAL CON SUMP. ALLOWANCES
NONFARM HOMES
23
NONCORP.BUS. PLANT + EQUIP.
24
CONSUMER DURABLES
25

52.2
4.2
12.l
35. 9

54.4
4.6
12.4
37.3

56 .8
4.9
13.l
38. 8

58 .0
5 .3
13.4
40.2

60. 5
5.6
l3.5
41.3

62.9
6. 0
14.l
42.9

66 .o
6.4
14. 7
45.0

70.4
6.8
15.6
48.0

75.l
7. 1
16.4
51.5

80. 3
7.4
11.2
55.6

86.8
7.8
18.4
60.6

94.2
8.2
19. 5
66. 5

22
23
24
25

26 NET INV. IN TANGIBLE ASSETS
NONFARM HOMES
27
NONCORP BUS .C CNS TR.+ EQUIP
28
CONSUMER DURABLES
29
INVENTORIES
30

21.1
13.8
1.6
4.9
•8

1 6.5
12. 7
2. 3
.6
l. 0

25.1
16.5
2.6
5 .5
.6

21. 7
14.5
1.6
5 .1
.5

18.o
12.o
2.7
2.9
.5

25.0
12 .e
4.3
6. 7
1 .3

28. 5
12.6
5. 4
8.9
1.5

29.9
12. 5
6.2
11.2

35 .8
12.0
7. 3
14.8
1. 7

33.9
11.5
6. 8
15.2
.4

28.7
9.1
6 .3
12.4
1.0

37.3
12. 9
6. 7
16.9
•8

26
27
28
29
30

15.6
8.8
1.6
2.6
-.4
.4
2 .6

15.2
a. 8
2. 7
.2
l.2
.4
1.9

26.9
12.6
3. 0
6.4

21.6
10 .9
3.9
l.8
l. 3
.6
3.0

27.0
12. 7
4.5
5.8
-.l
.5
3.6

34.5
14.8
5. 4
7 .9
2.0
•5
4.0

36.0
16.0
6.5
8. 5
- .2
.5
4.6

39.2
15.2
6.6
1 o. 0
•8
.6
5. 9

32.2
12. 3
5.8
7.2
-.2
1.5
5.6

33. 7
10.5

.5
4.4

20.7
10 .8
2.4
lt.6
-.1
•7
2.4

43.9
14.9
6.6
11.1
2, 1
1.3
7.9

31
32
33
34
35
36
37

33.5
2 .2
4.9

32.5
2.5
.6

33.2
3.0
5 .5

28.7
3.3
5. 1

31.3
3.5
2. 9

37 .3
3.6
6.7

38.9
3.7
8 .9

45.2
4.2
11.2

52.5
4. 8
14.8

56.t
5.3
15.2

61.5
6 .o
12 .4

57.1 38
5. 6 3 9
lb.9 40

.5
-.2
26.0
19.9
6.0

.6

.9

1.3

29.4
26.2
3,2

32.0
28.4
3.6

34. 2
32.5
1. 7

1. 7
-.1
41.4
40.5
.9

2.5
-.1
32 .2
38.4
➔.2

12
13
14
15
16

PVT. LIFE INS. RESERVES
PVT. IN SUR ED PEN. RE SERVES
PVT. NONINSURED PEN. RES.
GOVT. INS. + PEN. RESERVES
MISC. FINANCIAL ASSETS

31 INCREASE IN DEBT
MTG. DEBT ON NON FARM HOMES
32
NONCORP eus. MTG. DEBT
33
CONSUMER CREDIT
34
SECURITY CR EDIT
35
POL ICY LO•Ns
3b
OT HER DEBT
37
38 INDIVIDUAL SAVING( 1+26-31 l
39 L ESS- GOVT .INS+ PEN RESERVES
NET INV, IN CONS, OUR
40
CAPI TAL GA INS DIVIDENDS
FROM INVEST. cos.
41
NET SVG. 8'1' FARM CORPS.
42
43 EQU•L S PERS s•vINGI SEC BASIS l
4 4 PERSONAL SAVING, COMMERCE
45 DIFFERENCE 143-441


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

28. 0
-.5
12. l
4.4
-1 .9
l. 3
.7
1 .8
1.0
1.2
•3

31.1
3.3
14. 0
.7
-.5
-l. 8
-.4
•8

--------------------------------

63. 7 l
6 .9 2
27.7 3
3.8 4
•5 5
4.4 6
2.2 7
-.2 8
4. 6 9
4.7 10
-12 .4 11

--------------------------------------------------------

--------------------------------------------------------------------------------------------------

.

1.0

It .b

3.3
1.0
7. 3

-------------------------------------------------------------------------------------------------

.

•

•

.

•

.

•3

.3

.4

.4

.5

.5

26.2
20. 7
5.4

29.l
22. 3
6, 8

24.3
19.1
5,2

zo .o
17.0
2.9

24. 5
21.2
3.4

26.5
21 .6
4.9

. . .

41
42
43
44
45

FEBRUARY, 1970
S .E.C. SAVING BY IND! VIOUALS

S.E .C. SAVI NG BY INDIVIDUALS
INDIVIDUALS' ASSETS AND LIABILITIES--S.E.C. PRESENTATION

90

I BILLIONS

CF

90

DOLLARS I

----------------------------------------------·----------------------------------------------------------------1945
1954
1950
1951
1946
1947
\956
1952
1948
1949
1953
1955
------------------------·
--------------------------------------------------------------------

YEAR-END LEVELS, 19,.5-56

YEAR-END LEvas, 1945-56

1. 5
98. l

429 .7
69.5
64. 7
192. 6
49.3
17.3
.1
9.6
7 .5
3.l
105.7

465.0
71.7
67.l
214.4
49.6
16.8
.2
10.1
4.9
3 .3
129.5

505.3
76.3
71.6
237.5
49.l
16.l
.4
10.5
5. 9
3.5
151.9

539.0
77.8
79.3
252.l
49.2
15.9
.3
11.6
5.7
3. 9
165.4

552.0
78. 3
87.6
246. 4
49.4
15. 9
.4
13.7
5.6
4. l
157. 2

t:46.3
80.2
96. 7
319. 5
50. 0
14.l
•3
16.0
5. 5
6.1
227. 5

727. 0
81.0
105.5
378.l
50.2
15.7
.9
19.5
6.6
1.8
277.4

41. l
3.6
3 .8
12.7
27.l

43. 8
4.2
4.4
14.2
29.2

46.4
4.8
5.0
15.9
30. 8

49.l
5.6
6.7
17.7
32.7

51.6
6.6
7.8
19. 3
34.6

54. 5

9.6
21.3
36. 7

57.4
8. 8
11.6
23.2
38. 7

60.4
10.0
13. 8
24. 8
40.9

63.5
11.3
18.3
26.6
42.9

66.6
12. 5
21.0
29. 2
45. 2

12
13
14
15
16

63.0
26.l
11.1
11.6
1.8
2.1
10.4

73.6
31.l
12.2
1".4
1. 5
2 .2
12.1

82.9
35.2
13.7
17.4
1.8
2.4
12.5

99.6
42.6
15.5
21.5
2.5
2.6
15.0

110.s
49.7
17.0
22.7
2.4
2.8
16.3

125.0
56.l
18.7
27.5
2.6
2.9
17.l

138. 6
63. 8
20.0
31. 4
3. 0
3.1
17.2

154.3
72.4
21. 9
32.5
4.1
3.3
20.0

179.7
84.6
24.0
38.8
"•8
3.6
23.8

197. 8
95.8
2s.8
42.3
4.8
3.8
25. 3

17
18
19
20
21
22
23

1961

1962

404.l

384. 8
69.6
50.0
192. 8
42. 9
22 .o
-.1
7.3
9. 6
1.3
109.8

393. 9
71t. 3
56.3
182.6
44.2
19. 5
7.4
8.7
1. 3
101.6

59.8
182 .2
46.2
19.2
.1
7.8
8.l
1.4
99.3

PVT. LIFE INS. RESERVES
PVT . INSURED PEN. RESERVES
PVT. NONINSURED P EN . RES.
GOVT. INS. + PEN . RESERVES
MISC. F INANCIAl ASSETS

36.0
2.7
2. 8
9.2
21.8

38.6
3.1
3.2
11.0
24. 7

l 7 TOTAL LIABILITIES
MTG. DEBT ON NON FARM HOMES
18
NONCORP BUS. MTG. DEBT
19
CONSUMER CREDIT
20
SEC UR !TY CREDIT
21
POL ICY LOANS
22
OTHER DEBT
23

46.5
18.0
9. 0
s.7
4.9
2.l
6.9

52.8
21.8
9.9
8.4
2.2
2.0
8. 6

l TOTAL FINANCIAL AS SE TS
2
CURR. AND DEMAND DEPOSITS
SAVINGS ACCOUNTS
3
4
SECURI TI ES
u .s. SAVINGS BONDS
5
OTHER u.s. T REASURY SEC.
u.S .G AGENCY SECURITIES
STATE + LOCAL OBLIGATIONS
8
CORP. AND FOREIGN BONDS
9
SHARES
INVESTMENT
10
OTHER CORPORATE STOCK
11

co.

12
13
14
15
16

.

73.8

411.0
71.4
62.0
181.8
47.8
17.6
•2
8.9
1. 1

------------·---·----------------------------------------

------------------------------------------------1960
1959
1958
1957
-------------------

Y EAR-END LEVELS, 1957-68

YEAR-END
----------·----------------1966
1963
1965
l961t
--------------------------------

21.lt
3.3
33.9
9.2
25.2
486.8

1"19.4
109. 5
297.l
130.6
50.l
26. 2
8.2
3CJ. 8
12. 3
34.8
559.l

l 712.9
121.0
329.5
889.2
51.0
24.9
9.3
37.7
15.5
44.7
706.2

85.8
21.6
47.3
47.2
61.2

89.9
23. 3
55.4
50.9
62.8

94.2
25.3
63.9
55.0
64.8

98.9
27.3
72.6
59.8
66. 7

103.5
29.lt
73.8
65. 2
70. 3

108.2
32.l
86.5
11.2
75.2

112.9
35. 0
98. 3
76 .8
80.9

12
13
14
15
lo

325.l
160....

358. 8
175.l
lt9.4

39....8
191.l
56.0
80.3

lt33.9
206.4
62. 5
90.3
9.2
8.3
57. l

465. 3
219.0
68. 3
97.5
9.0
9.8
61.6

498.8
229.lt
75.3
102.1
12.3
10.8
68.9

543.l
241t.l
81.9
113.2
14.lt
12.1
77.3

17
18
19
20
21
22
23

963.7
85.l
152.8
508.l
45.9
21.4
3.0
27 .5
9.4
15.8
385.0

985 .5
83. 2
165. 3
50....7
45.6
21.5
2.7
30.9
9.8
17.0
377.2

1129.lt
84.5
182.6
610.9
lt6.4
20 .0
2.6
32.3
10....
22.9
476.lt

1103. 9
87.lt
206.0
51t1.lt
...6.9
19.3
2.9
33.l
9.7
21.3
"14.2

1231.8
92.7
229.0
627.9

PVT. LIF E INS. RESERVES
PVT. INSURED PEN. RESERVES
PVT. NON INSURED PEN. RES.
GOVT. INS. + PEN• RESERVES
MISC. FINANCIAL A SSE TS

69.3
14.l
23.4
31.3
47.8

72. 3
15.6
29.2
33. 8
50. 8

75.6
17.6
34.l
36 .8
53.5

78.8
18.9
38.2
40.l
56.5

82. l
20.3
...6.3
43.5
59 .2

17 T OTAL LIABILITIES
MTG. DEBT ON NONFARH HOMES
18
NONCORP BUS. MTG. DEBT
19
CONSUMER CREDIT
20
SECURIT Y CREDIT
21
POL ICY LOANS
22
OTHER DEBT
23

213.4
104.6
27.lt
lt5.0
4.4
4.2
27.9

228. 7
113.4
30.2
45.l
5.5
4.5
29.9

255.5
126.0
33.2
51.5
5.5
5.0
34.3

276.6
136.8
35.6
56. l

298.l
147.7
39.6
58.0
6.7
6.2
39.9

12
13
l"
15
16


https://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

5 ·"

5.7
37.0

1968

1501.8
106.5
279.3
790.8
49.6
23. 5
4. 0
38. 2
10.6
35. 2
629.7

899. 3
84.9
141.1
... 71.5
47. 7
16.l
1. 5
2"-4
9.5
13.2
359.l

"

LEVE LS, 1957-68
1967

1362 .6
99.0
252.9
707.5
49.0
22.2
3.8
35.9
9.3
27.2
560.2

760. 8
81.6
127.0
366.3
48.2
17.9
l .9
23.6
8.5
8.7
257.5

l TOTAL FINANCIAL ASSETS
CURR. AND DEMAND DEPOSITS
2
SAVINGS ACCOUNTS
3
SECUR ITl ES
u.s. SAVINGS BONDS
5
OTHER U.S. TREASURY sec.
6
1
u.s.G AGENCY SECURITIES
STATE + LOCAL OBLIGATIONS
8
CORP. AND FOREIGN BONDS
9
I NVESTHENT CO. SHARES
10
OTHER CORPORATE STOCK
11

1. 1

772.6 l
82.l 2
115.0 3
401.0 4
50.l 5
16. 6 6
1.2 7
21.8 8
7.4 9
9.0 10
294.8 11

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------------------,.,..o

63.8
6.6
6.8
...3.5

11.1

8.6
7.2
lt6.7

e.,.

7.8
51 .3

1912.... l
128.3 2
357." 3
1023.0 4
51.5 5
29. 3 6
11.6 7
37. l 8
20.3 9
52.7 10
820. 5 11