The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
F/F
1/70
Se a s
Adj
May 12, 1970
Flow of Funds,
Seasonally Adjusted
1st Quarter, 1970
Preliminary
uOVtRNOifi
Division of Research and Statistics
Board of Governors of the Federal Reserve System
Washington, D.C.
TABLE LIST
SUMMARY TABLES
1.
Income and Product Summary
2.
Credit tfeirket Summary
3.
Net Investment and Borrowing
SECTOR TABLES
4.
Households
5.
Business
6.
Governments
7.
Banking System
8.
Nonbank Finance Summary
9.
Insurance and Pension Funds
10.
Finance N.E.C. and Foreign
TRANSACTION TABLES
11.
Monetary and Insurance Reserves
12.
Money and Deposits Summary
13.
U.S. Government Securities
14.
Private Securities and Mortgages
15.
Mortgages by Type
16.
Consumer Credit and Bank Loans N.E.C.
17.
Bank Credit Relationship
18.
Other Loans, Including Open-Market Paper
19.
Security Credit, Trade Credit, and Taxes
20.
Miscellaneous I
21.
Miscellaneous II
22.
Total Claims--Recapitulation by Type
Flow of Funds Accounts, First Quarter 1970
The following pages present preliminary estimates for the
first quarter of 1970 in the flow of funds accounts, together with
1969 data that appear in the May Federal Reserve Bulletin. The 1969
figures have been recalculated from the form published in February with
more complete information and with new seasonal adjustments. Data for
1968 and earlier years are unchanged from the February Federal Reserve
Bulletin. A few specific aspects of this set of tables deserve special
mention:
Bank affiliates. The table for commercial banks, on page 7,
now has three parts that show (1) the bank sector as it has been shown
in the past, consisting of the firms that are compiled in Call Reports
as commercial banks and that are covered in most statistics for all U.S.
commercial banks, (2) a broader statement that combines banks with cer
tain activities of bank holding companies and other affiliates, and (3)
a separate statement of the amounts used for bank affiliates. This
treatment is a change from recent flow~of-funds presentations, where
bank affiliates had been combined into the finance company group.
In a formal accounting sense, the bank affiliate data consti
tute a new separate sector in the flow-of-funds system, but information
presently available provides neither a working definition of the group
nor adequate data on their transactions. The material shown for them
on page 7 consists of what is now being reported currently on the sub
ject, together with residual miscellaneous items to complete the
statement. To the extent that the group can be defined more precisely
in the future and their activities more adequately measured, the new
sector will take on a more specific meaning as an institutional group
in the financial structure.
Special drawing rights. With the January allocation of $867
million of SDR's to the U.S., a new financial instrument enters the
accounts. In the present tables, transactions in outstanding SDR's are
combined with gold transactions, with net increases in U.S. assets
offset by decreases in foreign assets. No liabilities have been set up
in the accounts for SDR's, and in the absence of liability entries,
the initial January allocation has been omitted from these tables on
transactions. When tables appear for 1970 assets and liabilities out
standing, the January allocation will appear as an increase in U.S.
assets not accompanied by transactions among sectors.
Sales of SDR certificates by the Exchange Stabilization Fund
to the Federal Reserve System ($400 million in the first quarter) appear
in the accounts as U.S. Government borrowing from the monetary authorities
sector, and the proceeds of certificate sales are included in U.S.
Government cash balance claims on monetary authorities. This treatment
follows the accounting that is used in the Federal Reserve Bulletin
table on "Member bank reserves and related items" (pages A4-A5 of recent
issues).—
In that table the deposits are included under "Deposits,
other than member bank reserves, with F.R. Banks," in the "other"
column rather than under "Treasury," because the deposits are not part
of the general account of the Treasurer. In the flow-of-funds tables
here the certificate sales have been combined with Treasury currency
liabilities of the U.S. Government to the monetary authorities sector
in the table on page 11.
Real estate investment trusts. Users should be aware that
the 1969 data include fairly large amounts that reflect the abrupt
expansion during the year of real estatement investment trusts. These
trusts issued about $1 billion of equity shares during 1969, and the
Department of Housing and Urban Development estimates that they acquired
about $1.1 billion of mortgage loans during the year. Little is yet
known about the trusts beyond these two fragments of information, but
it is probable that they did substantial debt financing in addition to
the share issues and acquired a variety of assets with the proceeds.
The effect of trusts on these tables is not clear other than that the
share issues are included in the $4.5 billion year total for 1969 on
page 2, line 7. Their position in the structure will be worked out
more fully in the near future.
Sponsored credit agencies. It should be noted that on page 2,
the middle section, line 4, the first-quarter 1970 figure for funds
advanced by Federally sponsored credit agencies includes a $4.3 billion
annual rate of U.S. Government security purchases. See page 6.
Amounts outstanding. 1969 year-end assets and liabilities
have been compiled but not in time for the May Federal Reserve Bulletin.
A matrix of these outstandings is available on request to the Flow of
Funds Section, Board of Governors of the Federal Reserve System.
The first-quarter 1970 figures are based on early indicators
and are therefore highly tentative, particularly in the distribution of
financial asset holdings among private nonfinancial sectors. The most
important information not yet available in these tables are S.E.C. data
on net new security issues on current assets and liabilties of corpora
tions. The lack of these data weakens the figures for total credit
\/ That table is identically the monetary authorities sector on
page 7 of these tables. "Factors supplying reserve funds" are assets
of the sector and "factors absorbing reserve funds" are liabilities
(excluding "currency and coin" in "member bank reserves," which are
already in "currency in circulation").
flows, household investment in securities, and distribution of liquid
assets as between households and business. Also missing at the time
the accounts were put together were end-of-quarter balance sheets for
life insurance companies and savings institutions, balance of payments
statistics, and complete income-and-product data. No figures are shown
for maturity detail of U.S. Government security holdings; such detail
comes from the Treasury's survey of ownership of Federal securities,
which was not yet available for the end of the quarter. The ownership
survey is also the source of estimates of total Governments held by
State and local governments.
The attached tables show the accounts at seasonally adjusted
annual rates. Tables showing unadjusted flows are available on request,
and a separate mailing list is maintained for unadjusted accounts.
Requests for the data or to be put on the mailing list should be
addressed to the Flow of Funds and Savings Section, Division of Research
and Statistics, Board of Governors of the Federal Reserve System,
Washington, D.C., 20551.
12 HAY 19 70
INCOME AND PRODUCT S U M M A R Y
INCOME AND PRODUCT
1
INCOME
SEAS
SUMI-ARV
AND PRODUCT ACCOUNTS: G N P E X P E N DITURES AND GROSS S AVING
(BILLIONS OF DOLLARS)
ADJ A N N U A L R A T E S
1
SEAS ADJ AN N U A L RATES
1965
YEAR TOTALS
1966
1967
1968
1969
I
1968
I III
IV
I
I
1969
I
II
III
IV
| 1970
I
I
1 TOTAL GNP
684.9
749.9
793.5
865.7
932.2
876.4
892.3
908.7
924.8
942. 7
952. A
960. 4
1
2 CURRENT OUTLAYS
3
STATE ANO LOCAL GOVT.
4
U. S. G O V E R N M E N T
5
HOUSEHOLDS
6
OF W H I C H C O N S U M E R D U R A B L E S
569.8
70.1
66.9
432.8
66.3
623.1
79.0
77.8
466.3
70. 8
672.3
89.3
90.7
492.3
73.0
736.9
100.7
99.5
536.6
83.3
7 9 0 .6
1 12.7
101.9
57 6 .0
89 . 8
7 4 7 .5
101.7
100.9
544.9
85.8
757.4
104.8
101.9
550.7
86.3
772.0
10 8. 5
101.6
562.0
88.4
785.8
112.3
100.6
572.8
90.6
796.9
113.8
103.2
579. 8
89.8
807.8
11 6.0
102.3
589. 5
90.4
819. A
I 18. 6
100.2
600. 6
89. 7
2
3
4
5
6
7 GROSS DOMESTIC
108.1
121.4
11 6 . 0
126.3
139.4
125.2
133.7
135.2
137.4
143.3
14 1 . 9
137 . 3
7
98.5
27.2
19.8
19.1
.5
106.6
25.0
18.3
18.9
.5
108.6
25.0
18.9
16.9
.6
119.0
30.2
22.1
21.2
.5
131.4
32.2
21.9
22.0
.5
118.0
29.9
21.7
21.3
.5
123.4
31.9
22.8
20.6
.5
128.6
33.3
23.6
22.4
.5
130.5
32.7
22.8
23.0
.5
132.5
31.4
20.6
22.3
.5
134. 1
31.6
20.6
20. 5
.5
1 34 .4
8
30. 1 9
10.8 10
2 0. 5 1 1
. 5 12
.2
.1
.1
-1.2
-.6
-.6
1.4
.7
.7
.4
.2
.2
-.7
-.3
-.3
-.1
-.1
-.1
1.7
.8
.8
.7
.4
.4
-.7
- .4
-.4
-2.2
>1.1
-l.l
-. 4
-.2
-.2
-1.3 13
-. 6 14
7 15
7.4
1 .9
5.5
6.8
1.7
5.1
6.1
1.5
4.5
8.1
2.2
5.9
10 . 3
3.2
7.1
8.2
2.1
6.0
9.2
2.6
6.6
9.7
2.9
6.8
9.9
2.7
7. 2
10. 8
3. 5
7.2
11. 0
3.8
7.2
10.3 16
2 .9 17
7. 4 18
71.3
4.1
4.9
8. 6
.8
52.8
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
99.2
5.0
5.3
10.3
1.4
77.2
88. 1
4.3
5.5
9.4
1.4
67.6
91.5
4.5
5.4
9.5
1.2
70.9
95.3
4.9
5.1
9.4
1. 4
74.6
97.8
5.1
5.4
10 . 2
1.4
75.7
101. 1
4.9
5.3
10.9
1. 4
78.6
I 02.5
4. 9
5. 6
10.9
1.4
79.7
10 4. 3
4.8
5.4
10.8
1.5
81. 8
19
20
21
22
23
24
9.6
1.0
8.6
.7
7.9
14.8
-.2
15.0
.6
14.4
7.4
•6
6.8
.3
6.4
7.3
-.1
7.4
.9
6.5
8.0
.3
7.8
.3
7.4
7.2
-.3
7.5
.9
6.5
10 . 3
-.2
10.7
1.3
9.4
6.6
♦
6.6
.5
6.1
10. 7
.4
10.3
.6
9. 7
7.8
.4
7.4
.5
6.9
2.9
.3
2 .6
-1.0
3.6
25
26
27
28
?9
6.9
39.2
32.3
5. 3
43.4
38.1
5.2
46.2
41.0
2.5
50.6
4 8.1
2.1
3.6
55.3
53.4
53 . 2
49.7
— — •— — — —— —
1.2
50.6
49.4
1. 5
47.6
46.1
1.6
57.1
55.5
2.6
57.8
5 5.2
2.7
58 .6
55 . 9
3. 7 30
60. 7 31
57.0 32
473.2
28.4
6.0
511.9
32.5
6.4
546.7
40.5
7.4
590.0
38.4
6.5
629.7
37.6
6.0
593.5
33.3
5.6
604.3
38.0
6.3
6 10. 2
32.5
5.3
622.0
33.3
5.3
639.1
43.1
6.7
64 7 . 5
41.7
6.4
6 5 9 . 9 33
4 2 . 8 34
6.5 35
1.2
1.0
-.2
1.3
-12.4
-2.0
-5.2
-1.5
9.4
-.6
-2.7
-.7
-.1
-.8
10.1
-1.8
13.5
-2.0
7.7
-.3
6.6
1.8
-.2 36
2.4 37
84.2
.2
3.3
9.7
71 . 1
80.3
.1
3.6
10 . 5
66.2
91.1
.1
4.0
11.5
75.6
93.7
.1
4.1
12.9
76.6
91.5
.1
4.2
1 2.1
75.1
94.5
.1
4. 1
11.9
78.4
95.5
.1
4.3
12.3
78.9
95.4
.1
1.9
12.7
78.7
92.5
.1
4.0
13 .3
75.2
91.4
.1
4.4
13.3
73.6
85 .5
.1
4. 0
13.9
68 . 5
38
39
40
41
42
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
27
28
29
INVESTMENT
PVT. F I X E D I N V E S T M E N T
RESIDENTIAL CONSTRUCTION
1-4 FAMILY S T R U C T U R E S
HOUSEHOLD PURCHASES
FARM
C H A N G E IN W O R K IN
P R O C E S S ON N O N F A R M
CORPORATE
NONCORPORATE
MULTI-FAMILY UNITS
CORPORATE BUSINESS
NONCORPORATE BUSINESS
NONRES. PLANT ♦ EQUIP.
N O N P R O F I T IN S T . ( HH)
FARM
NONFARM NONCORP. BUSINES
FINANCIAL CORPORATIONS
N O N F I N ANCI AL C O R P O R A T I O N
I N V E N T O R IES
FARM
NONFARM
NONCORPORATE
CORPORATE
30 NET E X P O R T S
31
EXPORTS
32
IMPORTS
33 D I S P O S A B L E P E R S O N A L I N C O M E
34 P E R S O N A L S A V I N G
35
S A V I N G RATE (PERCENT)
3 6 F E D E R A L GO V T . S U R P L U S
37 S T A T E £ L O C A L G O V T . S U R P L U S
38
39
40
41
42
CORPORATE PROFITS, TAXES,
PR OFITS - TOTAL
FARMS
FOREIGN
FINANCIAL CORPS.
NONFINAN. CORPS.
ANO DIVIDENDS:
77. 8
.2
3.3
8.7
65.7
6.9
.2'
6.7
-.2
7.0
43
44
45
44
TAX A C C R U A L S - T O T A L
FARMS
FINANCIAL CORPS.
N O N F IN ANCI AL
31.3
.1
3.7
27.5
34.3
.1
4.2
30. 0
33.0
.1
4.8
28.1
41.3
.1
5.7
35.6
43.3
.1
6.5
36.7
41.4
.1
5.9
35.4
42.9
.1
5.9
36.9
43.9
.1
6.1
37.6
44.1
.1
6. 4
37.6
42.8
.1
6.7
36.0
42.4
.1
6.9
35.4
37. 5
.1
7.2
30.2
43
44
45
46
47
48
49
50
51
DIVIDENDS - TOTAL
FARMS
NET F O R E I G N
FINANCIAL CORPS.
NON FINANCIAL CORPORATIONS
19.9
.1
1.5
1.4
16.8
20.8
.1
1.4
1. 2
18.1
21.5
.1
1.5
.9
19.0
23.1
.1
1.6
1.1
20.3
24.6
.1
1.7
1.3
21.6
23.6
.1
1.7
1.2
20.6
23.8
.1
1. 7
1. 2
20.9
23.8
.1
1. 7
1.2
20.8
24.3
.1
1.6
1 .3
21.4
24.9
.1
1. 6
1.3
21.9
25.2
.1
1.8
1.3
2 2.1
25.2
.1
1.6
1.3
22.2
47
48
49
50
51
52
53
54
55
56
57
58
59
UNDI S T . P R O F I T S - TOTAL
FARMS
FOREIGN BRANCH PROFITS
FINANCIAL CORPORATIONS
N O N F IN ANCI AL C O R P O R A T I O N S
+ I N V E N T O R Y V A L . ADJ.
♦ BRANCH PROFITS
* NONFIN. CORPS.,NET
26.7
*
1.8
3.6
21.3
-1.7
1.8
21.4
29.1
♦
1.8
4.4
22.9
-1.8
1.8
23.0
25.9
-.1
2. 1
4.8
19 . 1
-1.1
2.1
20.0
26.7
-.1
2.4
4.7
19.7
-3.2
2.4
18.8
25.9
-. 1
2.5
5.1
18.4
-5.6
2.5
15. 3
26.5
-.1
2.5
5.0
19.1
-.9
2.5
20.7
27.8
-.1
2.5
4.8
20.6
-4.2
2.5
19.0
27.9
- .1
2.5
4.9
20.5
-6.1
2.5
16.9
27.0
-.1
2.3
5 .0
19.7
-6.2
2.3
15.8
24.9
-.1
2.4
5.2
17.3
-3.7
2.4
16. 0
23.8
-.1
2.6
5.1
16.1
-6.2
2.6
1 2.5
23.8
-. 1
2.4
5.3
16.1
-5.9
2.4
12.6
52
53
54
55
56
57
58
59
60 TOTAL CAPITAL C O N S U M P T I O N
59.8
61
O W N E R — O C C U P I E O H O M E S (HH)
7.1
62
N O N P R O F I T I N S T .( HH)
1.2
63
FARM NONCORPORATE
4.8
64
N O N F A R M N O N C O R P O R A T E BUS.
10.2
65
TOTAL CORPORATE
36.4
66
FINANCIAL BUSINESS
1.0
67
CORPORATE FARMS
.2
68
NONFINANCIAL CORPORATIONS
35.2
MEMO: CA P . C O N S . O N C O N S U M E R P U R A B L E S
69
NOT INCLUDED ABOVE
51.5
70
TOT C A P . C O N S . INCL D U R A B L E S
111.3
63.9
7.4
1.3
5.1
10.7
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
8.2
1. 5
5.9
11.8
45.9
1. 3
.3
44.3
77.9
8. 6
1.4
6.3
12.5
49.1
1. 4
.4
47.4
73.7
8.3
1.5
5. 9
11.9
46.2
1 .3
.3
44.6
74.6
8.3
1. 5
6.0
12.0
46.7
1 .3
.3
45.1
75.9
8.5
1. 5
6. 1
12.1
47.7
1. 3
.3
46.0
77.2
8.6
1.3
6.2
12.5
48.6
1.4
.4
46.9
78.6
8.7
I. 5
6.4
12.5
49.6
1. 4
.4
47. 8
79 .9
8.8
1.3
6.5
12.9
50 .5
1.4
.4
48.7
81.3
8.9
I .3
6 .6
13.0
51.5
1.4
.4
49.7
60
61
62
63
64
65
66
67
68
55.6
119.5
60.6
129.2
66.5
139.7
72.7
150.6
67.2
140.9
68.8
143.4
70.4
146.3
71.9
149. 1
73.5
152.1
75.0
154.9
7 6 .6 69
1 5 7 . 9 70
-1.0
-1.3
-2.5
-5.9
-3.4
-3.6
-4.2
-6.5
-7.0
-6.0
- 5 . 9 71
71 ST A T I S T I C A L D I S C R E P A N C Y
-3.1
1/70 DATA ARE BASED ON P R EL IM IN AR Y IN FORMATION SUBJECT TO REVISION.
12 MAY 1970
CREDIT MARKET SUMMARY
1
CREDIT MARKET SUMMARY1
TOTAL FUNDS RAISED IN CREDIT MARKETS BY NONFINANCIAL SECTORS
(B IL L IO N S OF DOLLARS)
SEAS ADJ ANNUAL RATES
SEAS ADJ ANNUAL RATES
YEAR TOTALS
1966
1967
1948
1965
I.
TOTAL FUNDS RAISED
BY NONFINANCIAL SECTORS
2
1969
I
1968
| III
IV
|
1
1969
I
II
III
IV
| 1970
|
I
FUNDS RAISED, BY TYPE ANO SECTOR
70.4
6 8.5
8 2 .6
9 7 .4
88.2
11 8.0
9 5.5
8 8.9
8 8 .8
93.4
82.2
81. 0
I
1 .7
1 .3
.4
3 .5
2 .3
1.2
13 .0
8 .9
4 .1
1 3.4
10 .3
3.0
-3 .6
-1 .3
-2 .4
2 9 .3
2 4. 5
4 .9
-5 .4
-7 .4
2.0
-5 .3
-5 .7
.4
-1 3 .3
-1 2 .5
-.7
3.7
9 .4
-5 .7
.4
3 .9
-3 .5
2. 3
4.7
-2.5
2
3
4
5 ALL OTHER NONFIN. SECTORS
6
CAPITAL MARKET INSTRUMENTS
7
CORPORATE EQUITY SHARES
8
DEBT CAPITAL INSTRUMENTS
9
ST .-(-LOCAL GOVT. SEC.
10
CORPORATE + FGN. BONOS
11
MORTGAGES
12
HOME MTGS.
13
OTHER RES ID ENT IAL
14
COMMERCIAL
15
FARM
6 8 .7
3 9.1
.3
38 .8
7 .3
5 .9
2 5 .6
1 5. 4
3 .6
4.4
2 .2
6 4 .9
39.9
•9
3 9 .0
5.7
11.0
2 2 .3
1 1 .4
3.1
5 .7
2. 1
69.6
4 8 .0
2.4
45.7
7.7
1 5. 9
2 2 .0
1 1 .6
3 .6
4.7
2.1
84.1
50.5
-.7
51.2
9.9
14.0
2 7. 3
15.2
3.5
6.6
2.1
9 1 .9
5 3. 6
4.5
49 .1
8. 5
13.3
2 7 .4
15.7
4.4
5.2
2.0
8 8. 7
50.5
-1 .8
5 2 .3
12.5
13.2
2 6 .6
14.6
3 .6
6 .6
1 .9
100.9
5 9 .0
-2 .0
61.1
13.8
16.5
3 0 .8
1 6.6
4 .2
8 .2
1. 8
9 4.2
5 5. 0
.2
5 4. 7
10.2
15.8
2 8. 6
1 6. 4
4 .2
5.9
2 .2
10 2.0
55.0
3.2
5 1 .7
9. 8
1 3.3
28.6
1 6 .6
4. 7
5 .1
2.3
8 9 .7
5 1 .7
5 .3
46.4
6.7
12. 8
26. 8
15.6
4.6
4 .7
2 .0
81.8
52.9
9.2
43.6
7. 1
11.1
2 5.4
14.3
4.3
5 .2
1. 6
78 .8
53.9
7.5
46. 5
8.8
14.2
23.5
13.0
3.7
4.7
2.1
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
2 9 .5
14 .2
10 .0
-.3
5.7
2 5 .0
1 0.3
7.2
1.0
6.4
2 1.6
9 .6
4.6
2.1
5.2
3 3 .6
13 .4
11 .1
1 .6
7.5
3 8. 3
14.2
9 .3
3 .3
11.3
3 8 .2
13.5
13.2
6 .2
5 .3
4 1.8
22 .5
1 2 .0
.2
7 .0
3 9.2
1 6.4
9.9
5.1
7 .9
4 7. 1
1 9. 5
1 0 .4
3.9
13.3
3 8 .0
1 1 .5
8. 8
3.2
1 4. 6
28.9
9.7
8.4
1.2
9.6
24.8
4. 6
7. 0
5. 0
8.2
16
17
18
19
20
6 8 .7
2 .6
7 .6
2 8. 8
2 9.6
2 0. 5
5.8
3.3
64.9
1. 5
6 .4
2 3 .2
33.8
24 .9
5 .5
3 .5
69 .6
4 .1
7 .9
1 9 .7
3 7 .9
2 9. 3
5 .0
3 .5
84.1
3 .0
10.2
31.8
39.1
3 1.0
5.2
2 .9
9 1. 9
3 .5
8 .9
3 1.6
47 .9
3 7. 8
6 .5
3 .6
8 8 .7
2 .6
12.8
3 3.2
39.9
31.1
6.0
2.8
100.9
2.9
14.3
3 4 .9
4 8 .8
4 0. 7
5 .8
2 .2
94.2
4 .2
10.8
3 0. 9
4 8 .3
38.2
6 .9
3 .2
1 0 2 .0
5 .5
10. 1
35 .0
5 1 .4
42. 1
5. 6
3 .8
89 .7
2 .4
7.0
31.9
48. 5
37.8
7. 0
3. 7
81. 8
2.1
7.7
2 8.8
43.2
33.3
6. 4
3.5
78. 8
1. 9
9. 2
26 . 4
41. 3
34. 3
4.4
2.6
21
22
23
24
25
26
27
28
8 8 .8
1
2 U. S . GOVERNMENT^
3
PUBLIC OEBT SE CURITIES
4
BUDGET AGENCY ISSUES
21
22
23
24
25
26
27
28
OTHER PRIVATE CREDIT
BANK LOANS N . E . C .
CONSUMER CREDIT
OPEN-MARKET PAPER
OTHER
BY BORROWING SECTOR—
FOREIGN
ST AT E+LOCAL GOVTS.
HOUSEHOLDS
NONFINANCIAL BUSINESS
CORPORATE
NONFARM NONCORPORATE
FARM
II.
FUNOS ADVANCED DIRECTLY I N CREDIT MARKETS
1 TOTAL FUNDS RAISED
ADVANCED DIRECTLY B Y 2 U . S . GOVERNMENT
3 U . S . G . CREDIT AGENCI ES* NET
4
FUNDS ADVANCED
5
LESS-FUNDS RAISED IN CR.MKT.
7 0 .4
82.6
9 7.4
88.2
118.0
95.5
8 8 .9
9 3 .4
82.2
81.0
I
2 .8
♦
2 .2
2.3
4. 9
.3
5.1
4 .8
4.6
.5
-.1
-.6
5.2
-.2
3 .2
3.5
2. 6
.1
8 .9
8 .8
4.8
-.5
1.2
1 .7
2.9
-.8
1.7
2.5
2 .3
-.2
3. 9
4.1
1 .6
-.4
7.1
7.. 5
3 .7
-.2
1 0. 7
10. 9
2.8
.5
13.1
12.6
2.4
1. 0
16.0
15.0
2
3
4
5
6 FEDERAL RESERVE SYSTEM
7 COMMERCIAL BANKS* N E T l '
8
FUNDS ADVANCED
9
LESS-FUNDS RAISED IN CR .MKT•
3.8
2 8.3
29.1
.8
3.5
16.7
16.8
.1
4 .8
36 .8
37.0
.2
3.7
3 9 .0
39.2
.2
4 .2
9.4
1 3 .7
4.3
7 .2
6 6 .7
6 6 .9
.2
-2 .9
4 7 .1
4 7 .0
-.1
3. 1
9 .2
1 0. 1
.9
5.0
24.7
29.2
4.9
-.4
1.1
6.2
9 .0
9. 2
3 .1
9.9
6.8
.3
11.2
18.6
7 .4
6
7
8
9
3 0. 1
1 3 .7
1 7. 9
-1 .4
6 .9
0 .B
25 .9
7 .8
19 .3
- 1 .9
9.1
7.1
3 6.1
16.9
20*4
-1 .1
4 .3
5.5
3 3 .5
14*5
2 1 .9
-2 .5
9 .8
12 .3
3 1 .0
10.3
2 2 .)
-1 .6
10 .0
1 1. 6
3 2 .5
14*2
20*4
-2 .0
1 9.5
2 1 .5
3 2 .9
1 2 .6
22.9
-2 .6
7 .3
9 .9
3 1 .3
15.7
20.3
-4 .7
-1 .5
3.2
34*0
19.9
X I4
-1 .9
16.5
1 7 .0
9 0.7
6 .6
27.®
-2 .9
9.4
1 2.3
20.1
5 .6
19.1
9 .4
16.4
13.0
2 9 .0
7.3
22 .9
-.8
8.0
8 .8
10
11
12
13
14
15
16 FOREIGN
-.3
-1 .8
2 .8
2.5
2.0
3.1
9 .4
-1 .4
1 .9
6 .0
2 .0
17 PVT. DOMESTIC NONFINANCIAL
BUSINESS
18
STATE + LOCAL GOVT*, GEN.
19
HOUSEHOLDS
N
UESS-N 6T SECURITY CREDIT
tl
5*6
1.0
2.5
2.5
.3
19.1
3 .6
3.4
1 1.9
-.2
-3 .0
*.6
1.2
-1 .4
2.2
13 .8
9 .0
.7
5 .5
1 .4
9 6.9
11 .4
7 .2
18.7
-1 .6
4 .2
6 .6
3.1
-6 .9
.7
6 .0
6 .4
.9
3.0
3 .6
44*6
13 .2
6*5
2 2.2
-2 .7
2 1 .7
1 2 .6
4.1
4 .9
-.2
52.5
1 2.2
4 .9
32 .2
-9 .2
9 6 .9
7.1
1 9. 4
15 .a
-.2
10 PVT. NONBANK FINANCE
SAVINGS I N S T I T U T IO N S ,N E T
11
INSURANCE
...
12
FINANCE N . E . C . , N E T - 7
13
14
FUNDS A0VANC£0
15
LESS-FUNDS RAISED IN NKTS.
6 8 .5
-.4
22 NEMO: U . S . G O V T . CASH BALANCE
-1 .0
1. 2
TOTALS NET OF CHANGES IN U . S . GOVT. CASH1 BALANCES—
23 TOTAL FUNDS RAISED
71 .4
68*9
8 1.5
24
BY U . S . GOVERNMENT
3 .9
1 1. 9
2.7
NET FUNOS ADVANCED BY—
25
FEDERAL RESERVE SYSTEM
3.9
3*8
3*3
36. 5
26
COMMERCIAL BANKS
29*3
17.2
III.
TOTAL BORROWING BY
1
NONFINANCIAL SECTORS
70*4
F I N AN CEO OIRECTLY AND INDIRECTLY BY—
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
MKT. IN S T R . , NET
GOVT. SEC URI TIES
CRED IT MKT. IN S TR .
SECURITY DEBT
OTHER SOURCES:
FOREIGN FUNDS
AT BANKS
DIRECT
CHG. IN U . S . GOVT. CASH BAL.
U . S . GOVT. LOANS
PVT. INSUR. AND PENSION RES.
SOURCES N . E . C .
-.2
22
-1 .2
.4
2 6. 4
-9 .6
-6 .4
2. 1
1 .5
4.1
9 8 .6
1 4 .6
87.8
-4 .0
91.6
2.9
105.0
4.2
9 5 .3
1.1
8 6 .7
-1 5 .4
9 2.0
2.2
78.1
-3.7
81.3 23
2 .5 24
3 .7
9.3
7 .5
40 .1
-2 .8
56 .7
3.3
13.8
5.1
1 8.9
-.6
-1 .8
6 .8
7 .0
1.6 25
5.2 26
4 .8
39 .3
*
SOURCES OF FUNDS SUPPLIED TO CREDIT MARKETS
82 .6
97.4
88.2
11 8 .0
9 5 .5
88.9
8 8 .8
9 3 .4
8 2 .2
8 1 .0
I
42.8
2 3 .7
4 .0
19.7
1 2. 5
7.2
4 7 .7
50*6
11*6
3 9 .1
2 2 .3
1 6. 7
58 .1
4 4 .3
11.2
3 3. 1
2 0 .5
12.6
4 0. 3
1 .4
5 .5
-4 .1
-1 2 .0
8.0
58 .1
53.9
11.0
4 3 .0
31 .2
1 1 .8
63.4
56 .6
1 5 .8
4 0 .8
2 7 .5
13.3
48 .a
4 .1
-2 .8
6 .9
-6 .1
13 .0
2 8 .7
6 .9
4 .1
2.8
-6 .3
9 .1
3 6 .4
-1 6 .1
*
-1 6 .2
-2 2 .1
5 .9
4 5 .9
9 .4
19.1
-9 .7
-1 3.6
3.9
4 6 .0
11.1
-1 .5
12.6
8.3
4 .3
2
3
4
5
6
7
5.6
2.5
3 .5
.3
19 .1
8.5
1 0. 4
-.2
-3 .0
-2 .8
2 .0
2 .2
13 .8
8.9
6.3
1.4
3 8 .9
15.8
2 1.5
-1 .6
4 .2
6.9
-2 .1
.7
6.8
9.6
•8
3.6
4 4 .6
2 4 .7
17.2
-2 .7
2 1 .7
-.9
2 2.4
-.2
5 2 .5
2 6 .3
23.1
-3 .2
3 6. 5
13.4
2 2.9
-.2
.8
1.1
-.3
.7
2.5
-1 .8
5 .0
2 .2
2 .8
4 .0
1.5
2 .5
10.4
8.4
2.0
7.1
4.0
3.1
4 .9
-4 .5
9.4
1 2 .7
14.1
-1 .4
1 4 .4
13.1
1 .3
1 1.9
5.9
6. 0
2 .6
.6
2.0
-2 .8
-5 .0
2 .2
12
13
14
-1 .0
2.8
1 5 .7
5 .8
-.4
4 .9
1 6 .7
3 .8
1. 2
4 .6
1 8 .7
5.6
-1 .2
5.2
1 8 .2
1 3.2
.4
2 .6
18.7
15.8
2 6 .4
4*8
19.1
2.6
-9 .6
2.9
19 .6
1 4.3
-6 .4
2.3
16.7
14 .9
2 .1
1 .6
1 8. 6
23.5
1.5
3.7
2 2. 2
1 7.8
4.1
2 .8
17.3
9.5
-.2
2.4
17.8
17.8
15
16
17
18
1/70 DATA ARE BASED ON PRELIMINARY INFORMATION SUBJECT TO REVIS ION .
JL/ Excludes sponsored credit agencies. See Part II, line 3.
2/ Includes unconsolidated bank affiliates.
http://fraser.stlouisfed.org/
3/ Includes open-end investment companies.
Federal Reserve Bank of St. Louis
17
18
19
20
21
68.5
PRIVATE DOMESTIC NONFINANCIAL SECTORS*
46 .3
TOTAL
DEPOSITS
A O .7
DEMAND DEP. ♦ CURRENCY
8.0
TIME AND SVGS. ACCOUNTS
3 2 .7
AT COMMERCIAL BANKS
19.5
AT SAVINGS INST IT*
13.1
CREDIT
U.S.
PVT.
LESS
2 . 2 16
9 4 .6
7.9
5 .5
17.2
—4 . i
3 4.8
8
1.4 9
29.1 10
- 4 . 3 11
12 MAY 1970
NET INVESTMENT ♦ BORROWING
3
NET
BORROWING
INVESTMENT ♦
PRIVATE DOMESTIC NET INVESTMENT AND BORROWING IN CREOIT MARKETS
( B IL L IO N S OF DOLLARS)
3
S E A S ADJ A N N U A L R A T E S
SEAS ADJ ANNUAL RATES
1965
TOTAL* HOUSEHOLDS AN 0 BUSINESS
TOTAL CAPITAL OUTLAYS ( 1 )
CAPITAL CONSUMPTION ( 2 )
NET PHYSICAL INVESTMBIT
YEAR TOTALS
1967
1968
1944
1969
I
1968
1 III
IV
I
1
1969
I
II
III
IV
| 1970
1
I
17 3. 4
110.3
* 3 .3
19 1.2
118.5
7 2 .7
188.0
128.0
60.0
20 8.3
138.5
6 9 .8
227.9
149.2
78.6
2 0 9 .6
1 39 .6
6 9 .9
218.9
142.1
7 6 .8
2 22 .3
14 4.9
7 7 .3
2 2 6 .6
147.8
7 8 .8
2 3 1 .7
1 50 .7
8 1 .0
23 0.9
153.5
77.4
225.5
156.5
69.1
1
2
3
5 8.4
4 .9
5 7 .0
1 5 .7
5 7 .6
2.4
7 0 .9
-1 .0
7 9 .5
-.8
7 3.2
-3 .2
83.7
-6 .9
7 9.2
-1 .9
8 6 .4
- 7. 6
80 .3
. 7
7 2.0
5.3
67. 7
I .4
4
5
TOTAL BUSINESS
TOTAL CAPITAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYSICAL INVESTMENT
84.1
5 0. 5
3 3 .6
9 7 .0
54.2
4 2.8
9 3.6
58.2
35.4
9 9. 2
6 2. 3
3 7 .0
111.1
6 6 .5
4 4 .6
9 8 .2
6 2 .7
3 5. 5
107.5
63.4
44.0
1 06 .6
6 4 .6
4 2 .0
10 7 .9
6 6 .0
4 1 .9
11 4.7
6 7 .0
4 7 .6
115.1
68.4
4 6.7
110.5
69.6
40. 9
6
7
8
9
10
NET BORROWING
NET EQU ITY INVESTMENT
2 9 .6
4 .0
3 3 .8
9 .0
3 7.9
-2 .5
39.1
-2 .1
4 7 .9
-3 .3
3 9 .9
-4 .4
4 8 .8
-4 .7
4 8 .3
-6 .3
5 1 .4
-9 .6
4 8 .5
-. 8
43. 2
3 .5
9
4 1. 3
- . 4 10
11
12
13
CORPORATE BUSINESS
TOTAL CAPITAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYSICAL INVESTMENT
6 2 .8
3 5. 2
2 7 .5
7 7.1
3 8 .2
38.9
72.5
4 1.2
3 1 .3
7 6 .9
44.3
3 2 .6
8 7.5
4 7 .4
4 0.1
76 .2
4 4 .6
3 1 .6
8 3 .7
4 5 .1
3 8 .6
8 4 .0
46 .0
3 8. 0
85. 0
4 6. 9
38.1
9 0.8
47. 8
4 3.0
9 0 .2
4 8. 7
4 1. 5
87.6 11
4 9.7 12
38. 0 13
14
15
NET BORROWING
NET EQUITY INVESTMENT
2 0 .5
7 .0
2 4 .9
1 4 .0
2 9.3
2 .0
3 1 .0
1.6
3 7 .8
2 .3
3 1. 1
.5
4 0 .7
-2 .1
3 8.2
-.2
42.1
-4 .0
3 7 .8
5. 2
33.3
8.2
34.3
3 .6
16
17
18
HOUSEHOLDS
TOTAL CAPITAL OUTLAYS
CAPITAL CONSUMPTION
NET PHYSICAL INVESTMENT
8 9.6
5 9. 9
29.7
9 4.2
4 4 .3
29.9
9 4.4
6 9 .8
24.6
109.1
76.2
32.9
116.8
8 2 .7
3 4 .1
1 11 .4
7 6. 9
3 4.4
11 1.4
7 8.6
3 2 .8
115.7
80.4
3 5 .4
118. 7
8 1 .8
3 7 .0
117. 0
83. 6
33.3
115.8
85.1
3 0.7
115.1 16
86.9 17
28.2 I 8
2 (. S
.9
23.2
6.7
1 9. 7
4.9
31.8
1.1
3 1 .6
2 .5
33 .2
1.2
3 4 .9
-2 .1
3 0 .9
4.4
3 5 .0
2 .0
3 1 .9
1 .5
28.8
1 .9
26. 4 19
1.8 20
-3 .3
4.7
US
2.4
-.8
7 .9
2 .0
2 .4
-1 .4
7 .8
1 .9
3.5
-2 .0
5 .8
1 .9
4.7
-2 .8
7 .7
2.5
5 .0
-l.l
5 .4
1 .6
4 .7
-3 .4
5 .5
1.9
6 .1
-1 .8
8 .2
2 .3
4.2
-2 .8
8 .2
2.8
6.2
-3 . 0
7. 5
2 .4
5 .4
-3 .7
6 .9
2.6
4 .0
-2 .7
6. 1
2. 5
4.0
1
2
3
4
5
6
7
8
19
20
21
22
23
24
NET BORROWING
NET EQUITY INVESTMENT 1 3 )
NET BORROWING
NET EQ U IT Y INVESTMENT
OF WHICH:
HOUSES LESS HOME MTGS•
OURABLES LESS CONS. CREDIT
NONPROFIT P&E LESS MTGS.
LESS— UNALLOCATED DEBT
( 1 ) C A P I T A L OUTLAYS ARE TOTALS FDR RES ID EN TIA L AND NONRESIDENTI AL
FIXED CAPITAL* NET CHANGE (N INVENTORIES* AND CONSUMER DURABLES*
EXCEPT OUTLAYS BY FINANCIAL BUSINESS.
( 2 )C AP IT AL CONSUMPTION INCLUDES AMOUNTS FOR CONSUMER DURABLES
AND EXCLUDES FINANCIAL BUSINESS CAPITA L CONSUMPTION.
( 3)EXCESS OF NET INVESTMENT OVER NET BORROWING.
1/70 DATA ARE BASED ON PRELIMINARY INFORMATION SUBJECT TO REVISION.
14
15
21
22
23
24
households
12 MAY 1970
HOUSEHOLDS
4
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(B IL L IO N S OF DOLLARS)
SEAS ADJ ANNUAL RATES
SEAS ADJ ANNUAL RATES
1966
1965
|
1968
I III
YEAR TOTALS
1967
1968
I 1970
I
I
1969
II
HI
HOUSEHOLDS, PERSONAL TR US TS , ANO NON PROf 1T ORGIN1 1 A T IONS
538. 9
6 5 .7
4 4 4 .8
2 8 .4
4 .8
.9
1 4. 8
587.2
7 5.4
4 79.3
3 2 .5
5 .3
1. 3
15.2
6 2 9 .4
8 2.7
50 6.2
4 0 .5
6.0
1. 7
1 2. 4
6 87 .9
97.9
55 1. 6
3 8 .4
5.6
2.5
1 6 .9
747.2
117.5
592.1
3 7. 6
6 .6
2. 5
17.1
6 96 .1
102.6
5 6 0 .2
33.3
5.5
2.4
18 .6
711.2
106.9
566.2
38 .0
5.8
2.7
17.6
7 24 .4
1 14 .2
5 7 7 .7
32 .5
5 .9
5 .0
18.1
7 4 0 .5
11 8.5
58 8 .8
3 3 .3
6.6
1.9
18.7
7 5 6 .5
117.5
5 9 6 .0
4 3 .1
9 .3
2 .2
1 6 .3
767.4
1 1 9 .9
60 5 .8
41 .7
4 .7
l.l
15.4
77 8 .5
118.6
617.1
4 2.8
6 .1
2 .2
13.1
8 * NET SAVING
9 + CAPITAL CONSUMPTION
10
ON OWNER-OCC. HOMES
11
ON NONPROFIT P L .* E Q .
12
ON CONSUMER DURABLES
13 = GROSS SAVING
49.0
5 9.9
7.1
1.2
5 1. 5
108.8
54 .3
64.3
7 .4
1 .3
5 5 .6
11 8 .6
60.7
6 9 .8
7.8
1 .4
60.6
130.5
6 3 .3
7 6 .2
8.2
1 .5
6 6. 5
139.5
6 3 .9
8 2.7
8.6
1 .4
7 2 .7
146.6
5 9. 8
7 6 .9
8.3
1 .5
67.2
13 6.7
6 4 .1
7 8 .6
8 .3
1.5
68.8
1 42 .7
61.4
80 .4
8 .5
1.5
7 0 .4
14 1.8
60. 4
81 .8
8.6
1.3
71.9
142 .2
7 0 .9
8 3 .6
8.7
1 .5
73 .5
1 54 .6
6 2. 9
85.1
8.8
1.3
7 5. 0
148. 0
64 .2
86.9
8.9
1.3
7 6 .6
151.1
9
10
11
12
13
1 4 GROSS INVESTMENT
15 CAPITAL EXPEND. (N ET OF SALES
16
RESIDENTIAL CONSTRUCTION
17
CONSUMER DURABLE GOODS
18
PLANT ♦ EQU IP. (NONPROFIT)
112.4
8 9. 6
19.1
6 6 .3
4 .1
1 19 .8
9 4.2
18.9
7 0 .8
4 .5
13 1.4
94.4
1 6 .9
7 3 .0
4 .5
1 33 .3
1 09 .1
2 1 .2
83 .3
4.6
137.1
116.8
22.0
8 9. 8
5.0
132.7
1 11 .4
21.3
8 5.8
4 .3
139.4
11 1.4
2 0 .6
8 6 .3
4 .5
135.8
115.7
22.4
88 .4
4.9
125.5
118.7
23.0
9 0 .6
5.1
1 45 .3
1 1 7 .0
2 2 .3
89.8
4 .9
141.7
11 5.8
2 0.5
90.4
4.9
145.5
115.1
2 0. 5
8 9 .7
4 .8
14
15
16
17
18
NET FIN AN . INVESTMENT
NET ACQ. OF FI N A N . ASSETS
TOTAL DEPOSITS * CURR.
OEMAND DEPOSITS ♦ CURRENC
SAVINGS ACCOUNTS
AT COMMERCIAL BANKS
AT SAVINGS IN S TI TU T IO N S
22.9
5 3 .0
3 3 .6
7.2
2 6 .4
13 .3
13.1
25.6
49.3
2 2 .2
3 .1
19.1
1 1 .9
7 .2
37.0
6 0 .7
4 3 .9
1 1 .4
3 2 .5
15.8
1 6 .7
2 4. 3
5 8. 9
3 4 .7
6.9
2 7.7
15.1
12.6
2 0.3
5 0.2
14.6
3.4
11.3
3. 3
8 .0
2 1.3
5 5. 3
4 4 .0
1 5.6
2 8 .4
1 6.5
1 1 .8
2 8 .0
6 9 .1
4 4 .7
1 3.5
31.1
17.8
1 3.3
2 0.1
47 .5
1 1.7
-7 .9
1 9 .6
6.6
13 .0
6.8
41.4
2 0. 0
5.6
1 4. 5
5 .4
9.1
28 .3
5 5 .9
3.5
-1 .5
5. 1
-.8
5.9
2 5 .9
56.3
23.2
17.3
5 .9
2.0
3 .9
30 .5
51.8
18.2
7.0
11.2
6.9
4 .3
19
20
21
22
23
24
25
PERSONAL INCOME
LE S S - PERSONAL TAXES ♦ NONTAXE
PERSONAL OUTLAYS
* PERSONAL SAVING, NIA BASIS
* CREDITS FROM GOVT. INSUR.
* CAPITAL GAINS DIVIDENDS
♦ N E T DURABLES IN CONSUMPTION
19
20
21
22
23
24
25
26
27
L IF E INSURANCE RESERVES
PENSION FUND RESERVES
4 .8
12.3
4 .8
15.3
4.5
1 4 .9
4 .5
15.8
4.5
15.5
4.5
16.1
5.3
13.1
3 .7
16.2
4 .5
2 0 .0
4 .5
14 .0
6 .5 26
1 4. 8 2 7
1 3 .4
28
29
30
31
32
33
34
CREDIT MKT. INSTRUMENTS
U . S . GOVT. SECURITIES
STATE AND LOCAL O BL IG.
CORPORATE ANO FGN. BOND
INVESTMENT C O . SHARES
OTHER CORP. SHARES
MORTGAGES
2 .5
2.2
2.3
.7
3 .1
-5 .0
-.8
1 1 .9
7 .3
2. 1
2 .0
3.7
-4 .7
1 .4
-1 .4
.6
-2 .1
4 .0
2 .9
-7 .6
1 .0
5 .5
7 .1
-.2
4.6
4 .7
■•12.4
1.6
1 8. 7
13 .1
3 .8
4 .9
5 .6
-9 .9
1.3
—6 . 9
2 .6
2.6
-.8
4 .8
-1 8 .5
2.5
3 .0
11.1
-2 .9
6.9
5.0
-1 7 .7
.7
22.2
16.1
5 .0
4.8
7.5
-1 3 .0
1. 7
4.9
2.1
1.7
5.3
4.6
-1 0 .0
l.l
32.2
24.1
3 .3
4.7
6.0
-8 .4
2.5
1 5.8
10.1
5 .0
4.7
4.1
-8 .1
-
17.2
10.1
.0
3 .0
2.8
-3 .9
4.5
35
36
37
NET IN V. IN NONCORP. BUS.
SECURITY CREDIT
MISCELLANEOUS
-1 .9
.5
1 .3
-4 .1
*
1.2
-*4.6
l.l
1 .7
-3 .2
.7
1 .8
-4 .8
-.8
2 .1
-2 .9
o.8
1.8
-3 .0
1 .9
1 .9
-5 .3
-1 .5
2.0
-4 .5
-1 .0
2 .0
-4 .7
-1 .8
2 .1
-4 .5
l.l
2.2
- 3 . 6 35
- 1 . 6 36
2 .3 37
38
39
40
41
42
43
44
45
NET INCREASE IN L I A B I L I T I E S
CREDIT MKT. INSTRUMENTS
HOME MORTGAGES
OTHER MORTGAGES
INSTALLMENT CONS. CR .
OTHER CONSUMER CREOIT
•ANK LOANS N . E . C .
OTHB l* N S
3 0. 2
2 8. 8
15.2
1 .2
8.6
1.4
1 .6
.9
2 3. 6
2 1. 2
1 2. 9
1 .3
6. 2
1.0
.4
2 .0
23.7
1 9 .7
10 .5
1 .2
3 .4
1 .2
2 .1
1 .3
3 4 .6
3 1 .8
1 4.9
l.l
9.0
2.1
3 .0
1 .6
30 .0
31 .6
16.2
1.1
8 .3
1 .0
2.0
2.9
3 3.9
3 3 .2
14 .2
l.l
10.1
3 .1
2 .9
1. 8
4 1. 2
3 4. 9
15 .6
l.l
10.2
1.8
4 .6
1.6
2 7 .4
30.9
1 5.7
l.l
8.3
1. 5
2.1
2 .1
3 4 .6
35.0
1 7. 3
l.l
9.6
•8
3.5
2.7
2 7 .6
3 1 .9
1 6.6
l.l
7.7
1.1
1 .5
4 .0
30 .4
28 .8
15.4
l.l
8 .0
.5
1.0
3.0
21.3
2 6. 4
14.4
1.0
5.1
1 .8
.4
3.6
.8
.2
.3
-.2
•3
.4
3 .3
.4
.3
2 .1
.4
.4
-2 .4
.4
.3
-.1
.4
.4
5.5
.4
.4
—4*3
.4
.4
-1 .2
.4
.4
-5 .0
.4
.3
.9
.4
•3
- 5 . 8 46
. 4 47
.3 48
9.6
4*0
3.3
6.0
6 .3
5. 5 49
6 .2
9 .3
-1 .2
-.9
1 6 .7
•3*6
46
47
48
49
SECURITY CREDIT
TRADE OEBT
MISCELLANEOUS
DISCREPANCY
1/70 DATA ARE BASED ON PRELIMINARY INFORMATION S U W i C T TO REVISION,
28
29
30
31
32
33
34
38
39
40
41
42
43
44
45
12 MAY 1970
BUSINESS
BUSI NE SS
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF D O L L A R S )
5
SE A S AD J A N N U A L R A T ES
SEAS ADJ ANNUAL RATES
1965
YEAR TOTALS
1967
1968
1966
NONFINANCIAL
INCOME BEFORE TAXES
GROSS SAVING
129.5
7 1 .8
139.1
77 .7
I
II
III
IV
I 1970
1
I
BUSINESS - T O T A L
146.5
8 1.9
14 7.4
83.3
147.4
82.3
146.5
8 1 .4
148. 1
8 1. 7
147. 9
82. 9
143.3
81.0
138.7
82.2
74.1
99.2
9 1. 9
8 2. 9
.9
8 .1
7 .3
75.0
1 1 1 .1
103.0
92.8
-.1
10.3
7 7.6
98.2
9 1 .0
82.5
.4
7 5. 8
107.5
97.2
85. 8
75. 1
106 .6
74. 2
107.9
1 0 0 .0
1 0 1 .0
9 1 .3
9.2
10.3
76.6
115.1
107. 3
96.2
.1
1 1 .0
7. 8
76.9
110.5
10 7.6
98. 0
8 .2
89.0
1.2
9.7
73.5
114. 7
103.9
9 4.8
- 1 .6
I 0. 8
10. 7
-36. 1
25.5
61 .7
47 . 9
16.4
-. 5
10.6
12.5
8.9
11.3
2 .5
-2 0 .6
30.7
51.3
39 .9
10.3
.4
10 .9
10.8
7.6
5.3
-3 3 .7
30 .8
6 4 .5
51.4
14. 9
-.7
10 .9
15.5
10 . 8
14.9
- 1 .8
-4 1 .2
24.3
65. 5
4 8. 5
16.1
- 1 .0
10. 2
11 .4
11.7
14. 2
3.2
-3 1 .7
30 .3
62. 0
48.8
12.4
1.0
13.1
18.7
3 .6
7.6
5.7
2 .8
-38.5
15.9
54.5
43.2
19.8
-l.l
10 . 0
9.2
5.3
7.9
3.3
- 33. 6
23.5
57. 1
41.3
?0 . 2
-1.4
9. 5
4. 1
8.9
6.7
9. 1
6. 9
5 .7
6.5
6 .3
7. 5
9.4
4.4
73.7
18.5
75.6
19. 0
76. 4
19. 1
75.9
19. 7
76.1
19.9
1
2
18.5
2 2.6
19.0
2 2. 9
22.9
*
19. 1
23 .9
22.9
1.0
19.7
24. 9
24.1
.9
19.9
22.9
? 3. 5
-. 7
3
4
S
-5.2
7
4.8
1.9
3.2
-3. 0
1.4
4.3
7.0
4.9
-1.3
3. 4
.8
1 .0
-4 .5
-3.6
69 .6
9 7 .0
82.2
76. 1
-.7
6.8
14. 8
6 9 .9
93 .6
10 NET FINANCIAL INVESTMENT
11
NET INCREASE IN FIN AN . ASSET
12
NET INCREASE IN L I A B I L I T I E S
13
CREDIT MKT INSTRUMENTS
14
SE CURITIES
15
HOME MORTGAGES
16
OTHER MORTGAGES
17
BANK LOANS N . E . C .
18
OTHER LOANS
19
TRADE DEBT
20
OTHER L I A B I L I T I E S
-1 9 .5
24.1
43. 5
29.6
5 .4
.1
9. 1
12.3
2 .6
9.1
4.9
-2 7 .4
16.5
43. 9
3 3.8
11 .4
-1 .0
9.7
10. 1
3 .6
7. 4
2. 7
-2 3 .7
14.7
3 8 .4
3 7 .9
17.0
1.1
9.2
7.7
2.8
4.0
-3 .5
-25. 1
28.2
53.3
39 .1
12.1
.3
11.0
10.6
5.1
8.2
6. 9
8 6 .2
78.2
2 .0
6.1
7. 4
8 .0
1
145.1
81.0
64 .6
84.1
74 .4
6 6. 3
.7
7.4
9.6
7.2
IV
| III
135.8
78 .1
GROSS INVESTMENT
CAPITAL EXPENDITURES
FIXED INVESTMENT
BUSINESS PLANT ♦ EQUIPMENT
1 -4 FAMILY RES IDENT. CONST
OTHER RESIDENT IAL
CHANGE IN INVENTORIES
21 DISCREPANCY
1969
6 .8
7 .4
8 .0
7.2
8 .2
2 .2
6 .6
-3 1 .5
30.2
61.6
48 .3
14.7
.6
1 1 .2
f
13.9
7.9
8 .1
- .2
9.9
6 .9
I
2
3
4
5
6
8
T
10.3
2. 9
8
9
10
11
12
13
14
15
16
17
18
19
20
5.3 21
FARM AND NONFARM NONCORPORATE BUSINESS
1 NET INCOME
2 GROSS SAVING
65.6
15.2
6 9. 8
16.5
70 .7
1 7. 0
72 .8
17.9
75.4
19.2
73.1
18.0
7 3.1
18.3
3 GROSS INVESTMENT
4 CAPITAL EXPENDITURES
5
FIXED INVESTMENT
6
CHANGE IN INVENTORIES
15.2
21 .3
19.6
1 .7
16.5
19 .9
19.5
.4
17.0
2 1.1
20.2
1.0
17.9
22 .4
2 1.6
.8
19.2
2 3 .6
23.0
.6
18.0
2 2 .0
2 1.4
.6
18.3
23.8
2 2 .9
.9
7 NET FINANCIAL INVESTMENT
8
NET INCREASE IN FINAN. ASSET
9
NET INCREASE IN L I A B I L I T I E S
10
CREDIT MKT. INSTRUMENTS
11
MORTGAGES
12
BANK LOANS N . E . C .
13
OTHER LOANS
14
TRADE DEBT, NET
15
PROPRIETORS' NET INVESTMEN
-6 .1
1.0
7.1
9.1
5. 4
1. 7
2 .0
♦
-1 .9
-4 .2
1.2
5 .4
8 .5
5 .8
1.3
1.4
1.5
-4 .6
-3 .4
l.l
4.5
9.0
4.5
2 .2
2.2
-.4
-4 .1
-4 .5
1. 5
6.0
8.1
5.5
l.l
1.6
l.l
-3 .2
-4 .4
1.3
5 .7
10.0
5.7
1.6
2 .7
.4
-4 .8
-4 .0
1.8
5 .8
8. 8
5.3
1.0
2. 5
-.1
-2 .9
2 2 .1
.5
-5 .5
1 .5
7 .0
8.1
6.5
.5
I. 1
2 .0
-3 .0
-4.1
.9
5. 0
10.1
6 .3
l.l
2 .7
.2
-5 .3
-3 .9
1.3
5. 1
9. 4
6. 1
1.5
.2
-4 .5
-4 . 7
2. 1
6 .8
10.7
5. 7
2. 1
2 .9
.8
-4 . 7
1 .8
1 .0
6 .2
1 0 .0
6
8
9
10
11
12
13
14
15
NONF I NANCI AL CORPORATE BUSINESS
PROFITS BEFORE TAX
- PROFITS TAX ACCRUALS
- NET 01VIDENDS PAID
♦ UNDISTRIBUTED PROFITS
♦ FGN. BRANCH PROFITS
♦ IN V. VALUATION A D J .
♦ CAPITAL CONSUMPTION ALL.
- GROSS INTERNAL FUNDS
65 .7
2 7.5
1 6. 8
2 1. 3
1 .8
-1 .7
35.2
5 6 .6
7 1 .1
3 0 .0
18.1
2 2 .9
1.8
-1 .8
3 8. 2
61.2
66.2
2 8. 1
19.0
19.1
2.1
-l.l
4 1 .2
6 1. 2
75.6
3 5. 6
2 0 .3
19.7
2.4
-3 .2
44 .3
6 3.1
76 .6
36 .7
2 1. 6
18.4
2. 5
-5 .6
4 7 .4
6 2 .7
7 5. 1
3 5 .4
2 0. 6
19.1
2 .5
-.9
4 4 .6
6 5.3
78 .4
3 6. 9
2 0. 9
20 .6
2. 5
-4 .2
4 5. 1
64.1
7 8.9
37.6
20.8
2 0.5
2.5
-6 .1
46 .0
6 3 .0
7 8 .7
37 .6
21 .4
19.7
2 .3
-6 .2
4 6.9
6 2. 7
75.2
36. 0
21. 9
17.3
2 .4
-3 .7
47. 8
6 3.8
73.6
35.4
22.1
16.1
2.6
-6 .2
48.7
61.2
68. 5
30.2
22.2
16. 1
2. 4
-5 .9
49. 7
62.3
1
2
3
4
5
6
7
8
9
10
11
12
13
14
GROSS INVESTMENT ( 10 ♦ 15)
CAPITAL EXPENDITURES
FIXED INVESTMENT
PLANT AND EQUIPMENT
RESIDENTIAL CONSTRUCTION
CHANGE IN INVENTORIES
49.4
6 2 .8
5 4.9
5 2. 8
2.0
7.9
5 3. 1
77.1
6 2. 7
6 1. 6
1.1
14 .4
5 3.0
72 .5
6 6 .0
6 3.8
2.2
6.4
56.2
7 6.9
7 0. 3
6 8 .0
2 .3
6 .5
55.8
87 . 5
8 0.0
77.2
2 .9
7.4
59 .6
76.2
6 9 .7
6 7 .6
2 .1
6 .5
5 7 .5
8 3.7
74.3
7 0. 9
3.4
9.4
56.6
8 4.0
7 7 .9
7 4 .6
3 .2
6 .1
55.2
8 5.0
7 8 .0
75.7
2 .3
7.0
54.3
90 .8
8 1.0
7 8 .6
2 .4
9 .7
56.9
90.2
83.3
79.7
3 .6
6 .9
57.0
87.6
84. 0
81.8
2. 3
3 .6
9
10
11
12
13
14
15
16
NET FINANCIAL INVESTMENT
NET ACQUIS. OF FIN AN . ASSET
-1 3 .4
23.1
-2 4 .0
15.5
-1 9 .5
1 3. 5
-2 0 .7
2 6 .6
-3 1.7
24 .2
-1 6 .6
28 .8
-2 6 .2
2 8 .8
-2 7 .4
2 9 .3
-2 9 . 8
2 9 .6
-3 6 .4
22 .3
-3 3 .3
14.9
-3 0 .6
22.1
15
16
1 .7
-1 .5
3.9
-1 .6
.5
.5
1 .2
15.1
5.1
1.9
.7
-.7
-1 .2
2 .0
1.0
1.2
11.3
1. 0
♦
-2 .2
4.1
-3 .1
1 .5
-.4
.9
8. 8
3 .8
10.1
1.3
2.2
1.8
4 .5
.4
1. 7
14.8
.1
2 .3
.5
-7 .8
-1 .4
8 .7
2 .3
1 .3
17.3
3 .4
13 .7
-1 .2
9 .5
1 .7
6.2
- 2 .6
2.1
16.5
-3 .5
4.5
-4 .3
4 .1
-1 .3
4 .7
1.3
l.l
18.6
4.6
8 .0
3 .8
-7 .2
6.1
2.9
2 .4
1.6
18.3
1.3
4 .2
.7
-7 . 6
-3 .2
11.7
2.7
.9
1 8.2
6 .2
-3 .0
-1 .7
-1 0.8
-3 . 8
13. 1
.2
1 .4
18. 5
5. 4
-.6
-l.l
-5 .6
-4 .9
7.2
3.7
.7
14.1
.8
.4
-4 .3
-1 .2
-10.8
14. 7
1 .9
1.5
15.0
5.3
17
18
19
20
21
22
23
24
25
36 .5
2 0.5
3 9 .4
24. 9
3 3 .0
2 9.3
4 7.3
3 1 .0
56.0
37.8
4 5. 5
3 1.1
5 5 .0
4 0 .7
5 6.6
3 8.2
5 9 .4
4 2 .1
58. 7
3 7.8
48.2
33.3
52.7 26
34. 3 27
5 .4
*
3.9
10.6
.6
2 .2
9.1
4.6
10.2
1.2
4 .2
7 .9
1.4
.2
7.8
6.5
14.7
2 .3
4 .5
6 .4
1 .4
-4 .1
2 .6
5.2
1 2.9
-.8
5 .8
9 .6
3 .6
3 .7
5 .7
6.9
12.1
4 .3
4 .3
10.9
6 .2
.8
10.9
6 .5
12.1
-1 .9
5 .9
9.8
5 .1
-1 .9
8.3
8 .0
14.6
-2 .2
7.6
18.2
2 .6
2 .9
5 .6
5 .7
14 .6
.1
5. 6
12 .8
5.2
5.6
7 .9
5. 0
1 2.5
2.4
4 .2
1 4.0
9. 0
-3 .9
1 4.7
6 .5
10.5
5 .6
3.5
9 .3
8.8
.8
13 .4
6 .7
10.7
9.1
4.1
7.3
2.0
.5
7.1
7.4
13. 1
7 .1
3.2
5. 5
5. 5
6.4
5. 7
6. 4
7.2
5. 9
2 5 .8
8.0
3 .5
3 0. 5
8 .2
6 .2
32. 7
6 .9
9.2
3 2 .0
6.9
6 .4
36.0
5 .7
8.2
3 7 .3
6 .5
1 3 .0
34 .0
6 .3
1 0.5
3 2. 8
7. 5
3 .5
41.9
9.4
5.1
3 5. 1
4.4
7. 0
34.0
5 .3 36
9.3 37
23. 7 38
1
2
3
4
5
6
7
8
17
18
19
20
21
22
23
24
25
26
27
28
29
30
31
32
33
34
35
36
37
38
LI Q U ID ASSETS
DEMAND DEP. AND CURR.
TIME DEPOSITS
U . S . GOVT. SECURITIES
OPEN-MKT. PAPER
STATE AND LOCAL OBLIG.
CONSUMER CREDIT
TRADE CREDIT
OTHER FINANCIAL ASSETS 1/
NET INCREASE IN L I A B I L I T I E S
CREDIT MKT. INSTRUMENTS
CORPORATE BONDS^
CORPORATE STOCK
MORTGAGES
BANK LOANS N . E . C .
OTHER LOANS
PROFIT TAX L I A B I L I T Y
TRADE DEBT
OTHER L I A B I L I T I E S
DISCREP ANCY
MEMO- NET TRAOE CREDIT
PROFITS TAX PAYMENTS
1/70 DATA ARE BASED ON PRELIMINARY INFORMATION SUBJECT TO R EVI SI ON.
1/
Line 28 excludes new issues sold abroad, and line 25 excludes direct investment financed by foreign security flotations.
28
29
30
31
32
33
34
35
12 MAY 1970
GOVERNMENTS
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(B ILLIO N S OF DOLLARS)
SEAS ADJ ANNUAL RATES
SEAS ADJ ANNUAL R A T E S
YEAR TOTALS
1966
1967
1968
I
1968
| III
1969
STATE AND LOCAL GOVERNMENTS
1
2
3
4
5
6
7
TAX RECEIPTS
S DC . INS . ♦ G R A N T S R E C D .
PURCH.CF GOODS ♦ SER V I C E S
N ET I N T E R E S T ♦ T R A N S F E R S P A I D
NET SURPLUS* NIA BASIS
L E S S - R E T I R E M E N T C R . TO HH.
EQUALS-GRCSS SAVING
8 NFT F I N A N C I A L I N V E S T M E N T
9
NET A C Q . O F F I N A N . A S S E T S
10
TOTAL DEPOSITS * CURRENCY
11
CURR. AND DEMAND DEPOSIT
12
T I M E O EPOS ITS
13
C R E D I T MK T . I N S T R U M E N T S
14
U.S.GOVT.SECURITIES
15
DIRECT
16
U . S . G . A G E N C Y SEC .
17
S T A T E ♦ L O C A L SEC.
18
OTHER CR.MKT.INSTRUMENTS
19
C O R P ORATE BONDS
20
HOME MORTGAGES
21
TAX R ECEIVABLES
22
23
24
25
26
27
28
NET INCR. IN L IABIL IT I E S
C R E D I T MK T . B O R R O W I N G
S T A T E «■ L O C A L O B L I G .
SHORT-TERM
OTHER
U.S.GOVT. LOANS
TRADE DEBT
29 DISCREPANCY
1969
IV
|
I
II
III
IV
96.5
30. 0
116.0
I 1970
|
I
GENERAL FUNDS
59. 8
15 .6
7 0 .1
4 .4
1.0
3.3
-2 .4
6 5 .8
1 9. 4
79 .0
4.9
1.3
4. 0
-2.7
7 1. 5
21 .5
89.3
5 .7
-2 .0
4.6
-6.6
8 1 .3
24 .9
10 0.7
6.9
-1 .5
4.3
-5 .7
9 2. 8
27.6
112.7
8.3
-.6
5 .0
-5 .6
83 .0
25 .0
10 1.7
7.0
-.7
4.6
-5 .3
85 .5
2 5 .9
104. 8
7.4
-.8
4.7
-5 .5
8 8. 4
26. 1
108.5
7 .9
- 1.8
4.1
-5 .9
9 1 .8
2 6 .7
112.3
8. 2
-2 . 0
5 .3
-7 .3
94. 4
27. 5
1 13.8
8 .4
-.3
7.0
-7 .3
-3 .1
4 .9
2 .2
-.2
2.4
2 .5
1 .9
1.3
.6
-.1
.6
.7
*
.I
-2 . 1
4. 8
1.2
-.1
1 .3
3 .4
2 .4
2.2
.1
*
1.1
1.1
-5 .2
3 .2
2. 0
-.4
2.4
1.2
-.3
-.9
.6
*
1.6
1.5
-5 .6
5.1
4.3
l.l
3 .2
.7
.1
-.8
.8
*
.6
.4
.2
.1
-7 .5
1.9
-5 .3
2 .2
-7 .5
7.2
4.2
2 .0
2 .2
.1
3.0
2 .8
.2
~
-6 .9
6.4
3 .3
-1 .9
5 .2
3.1
2 .6
3 .3
-.7
*
.5
.3
.2
.1
-4 .0
10 .8
9.8
4.1
5 .7
.9
-.3
-.4
.1
.1
l.l
.9
.2
.1
-8 .3
3.0
-3 . 5
1.9
-5 .4
6. 5
2. 5
.5
2.0
*
4 .0
3.8
.2
-1 2 .4
-8 .3
-.8
-5 .8
4 .6
-1 0. 4
4 .9
5 .9
2. 6
3 .4
.1
-1 .0
-1 .2
.2
.1
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
6.1
.2
.5
10.7
1 0.2
9.9
1.6
8. 3
.3
.5
9.4
8. 9
8 .5
4. 1
4.4
.4
.5
13.3
12.8
12. 5
.8
11.7
.3
.5
14.8
14.3
1 3 .8
3.9
9.9
.5
.5
11.3
10.8
10.2
4 .3
6. 0
.5
.5
10 .6
10 . 1
9 .8
4. 4
5 .4
. 3
.5
7. 5
7.0
6.7
2.9
3 .9
.3
.5
8. 2
7. 7
7.1
4 .7
2 ,4
.5
.5
8.8
3.0
5 .8
.4
.5
24
25
?6
.7
-.7
-.2
1.9
1.6
-1 .6
2 .3
5. 1
I. 0
-.7
2.9
29
- 1.8
- 5 . 8
-I. 8
-4 .0
4 .1
.2
- .7
.9
.1
3 .8
3.6
.2
*
8.7
1.8
98.6
31.8
2
118.6
9. 4
3
1
U
2 .4
5
3. 5
-1 .7
-
-1 .0
-5 . 2
8
7.2
-6 . 1
3.9
- I 0 .0
13.4
4.
b
9
10
8.2
5.6
2.6
*
5.1
5. 0
.2
-.1
1
4.
2.2
-3 .4
? .5
5.5
2. 1
-.2
6
T
I 1
1?
13
14
I 5
i f
2.2 I 7
.i
i8
3.2 1 9
. 1 ,’ 0
* 21
3.3
<5. 7 2?
9.2
2. 7
28
EMPLOYEE RETIREMENT FUNDS ARE IN INSURANCE SECTOR.
U . S . GOVERNMENT
1
2
3
4
5
TOTAL RECE IPT S, NIA BASIS
PERSONAL TAXES
CORP. PROFITS TAX ACCRUALS
INDIRECT TAXES
INSURANCE RECEIPTS
124.7
5 3. 8
29 .3
1 6.5
25 .1
142.5
6 1 .7
32.1
1 5 .7
33 .0
151.1
6 7 .5
3 0 .6
1 6.3
36.7
176.3
7 9 .5
38 .3
18.0
4 0. 5
201.5
9 5. 6
40 .2
18.8
4 6.9
18 1.4
83 .7
3 8.4
18.3
40 .9
187.3
87 .4
39 .8
18.5
4 1 .7
198.6
9 3 .8
4 0 .7
18.5
4 5 .6
2 0 2 .8
96.9
4 1.0
18.6
4 6 .4
201.3
95 .0
39 .8
19.1
47 .5
203.3
96.7
39 .4
19.1
48.1
197. 5
94.7
3 4.7
19. 1
49. 0
1
2
3
4
5
6
7
8
9
10
11
12
13
TOTAL EXPENDITURES. NIA BASISi
GOODS AND SERVICES
GRANTS AND DONATIONS
NET INTEREST
INSURANCE BENEFITS
NET SURPLUS. NI A BASIS
LESS-INSURANCE CREDITS TO
EQUALS-GROSS SAVING
123.5
66 .9
24.2
8 .7
2 3.7
1 .2
1 .4
-.2
14 2 .8
77. 8
2 9.0
9 .5
2 6 .4
-.2
1 .4
-1 .6
163.5
9 0 .7
30.8
10 .0
32.0
-1 2 .4
1 .4
-1 3 .8
18 1 .5
9 9 .5
3 3.5
1 1. 6
36.9
-5 .2
1. 3
-6 . 5
192.0
101.9
3 6.8
13.1
40.3
9 .4
1.7
7 .8
184.1
1 00 .9
34.0
11.6
37.6
-2 .7
.9
-3 .7
187.4
101.9
34.9
1 2.2
3 8. 5
-.1
1 .0
-l.l
188.5
101.6
3 5 .0
12 .5
39.4
10.1
1.8
8.3
189. 3
10 0.6
3 6 .0
1 2 .9
39. 8
13.5
1 .3
12.2
193.6
103.2
36 .6
13.1
40. 7
7. 7
2.4
5 .3
19 6. 7
102.3
39.5
13.7
41.2
6 .6
1.2
5.3
197.7
100.2
40. 6
13.9
4 3 .0
-.2
I. 5
-1 .7
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
- .8
3 .0
-1 .4
2 .8
*
-.1
2.9
-.1
5.4
-.1
4 .9
1 .3
.8
2 .8
-1 2 .5
2 .8
1.0
4 .6
-.1
.9
3 .8
-6 .3
9 .3
-1 .7
5 .2
.1
1.1
3 .9
8.6
7 .0
1.1
2.6
-1 .3
.7
3. 2
-3 .1
2 9.2
2 4 .8
4 .8
-.1
1.0
3 .8
-2 .3
-4 .6
-1 0 .4
2.9
—1 •0
.7
3.1
9 .3
5. 0
-3 .1
2.3
-l.l
.4
2 .9
1 4. 6
3 .6
1 .6
1. 6
-2 .2
.8
3.0
4.0
9 .5
2 .2
3.7
-.8
.8
3 .8
6. 4
9.9
3.7
2 .8
-I. 0
.8
3 .0
-1 .2
4 .3
-1 .6
2.4
*
.1
2 .3
14
15
16
17
18
19
20
21
22
NET FI N AN . INVESTMENT
NET ACQUIS. OF FI N A N . ASSET
DEMANO DEPOSITS ♦ CURRENC
CREOIT MARKET INSTRUMENTS
AGENCY SE CU RITIES
MORTGAGES
OTHER LOANS
EXCESS OF TAX ACCRUALS
OVER RECEIPTS
OTHER FINANCIAL ASSETS
1.2
.5
-.7
1 .3
-4 .6
1.8
3 .3
2.5
1.0
2 .3
-1 .4
I .0
2.0
1.0
5 .0
.9
-3 .7
4. 1
1 .4
2 .2
1. 5
1.9
23
24
25
26
27
28
29
NET INCREASE IN L I A B I L I T I E S
U . S . GOVT. SECURITIES
SAVINGS BONDS
DIRECT EXC. SVGS. BDS.
BUDGET AGB4CY SE C.
LIFE*RETIREMENT RESERVES
OTHER L I A B I L I T I E S
3 .8
1 .7
•6
.7
.4
1 .4
.7
5 .5
3 .5
.6
1 .8
1.2
1.4
.6
1 5. 3
13 .0
.9
8 .0
4 .1
1 .4
.9
15.6
13.4
.5
9 .8
3.0
1. 3
.9
-1 .6
-3 .6
-.4
-.9
-2 .4
1.7
.4
32 .3
2 9. 3
.8
2 3 .7
4.9
.9
2.0
-2 .2
-5 .4
.7
-8 .1
2.0
1.0
2. 2
-4 .3
-5 .3
-.5
-5 .2
.4
1.8
-. 8
-1 1 .0
-1 3 .3
-.4
-1 2 .1
-.7
1. 3
.9
5. 4
3. 7
-.7
10. 1
-5 . 7
2 .4
-.6
3 .5
.4
.1
3 .8
-3 .5
1. 2
1.9
5.5
2.3
-1 .1
5 .8
-2 .5
1.5
1. 7
30
31
DISCREPANCY ( 1 3 - 1 4 )
MEMO- CORP. TAX RECEIPTS, NET
.6
28.1
-1 .5
3 2. 8
-1 .3
3 5.1
-.2
35.0
-.8
39 .2
-.6
39 .9
1.3
37. 7
- 1 .0
3 5 .7
-2 .5
4 4 .7
1.3
38. 4
-1 .0
3 7 .9
- . 5 30
2 7. 4 31
FEDERALLY SPONSOREO CREDIT
1 CURRENT SURPLUS
.1
.1
.1
.1
.1
2 NET INCREASE IN ASSETS
3
CREDIT MKT. INTRUMENTS
4
U . S . G O V T . SEC.
5
RESIDENTIAL MORTGAGES
6
FARM MORTGAGES
7
OTHER LOANS
8
TO COOPS (B C )
9
TO FARMERS ( F I C B )
10
TO S ♦ L •S ( FHLB)
2 .3
2 .2
.1
.5
•6
1.0
.1
•3
.7
5.3
5.1
1.0
1.9
.7
1.6
.2
.4
.9
-.1
-.1
*
1.1
.7
-1 .8
.2
.5
-2 .5
3.2
3 .2
-.1
1 .6
.5
1. 2
.1
.2
.9
9 .2
8 .9
-.4
3.9
.6
4. 8
.2
.6
4. 0
11 NET INCREASE IN L I A B I L I T I E S
12
CREDIT MKT. IN S TR .
13
AGENCY SEC URI TIES
14
U . S . G O V T . LOANS
15
MISCELLANEOUS L I A B I L I T I E S
16 DISCREPANCY
2. 2
2.3
2.1
.2
♦
5.2
4.8
5. 1
-.2
.4
-.2
-.6
-.6
-.1
.5
3 .2
3.5
3 .2
.2
-.3
9 .1
8 .8
9 .1
-.3
.4
.1
ON PRELIMINARY INFORMATION SUBJECT TO REVISIO N .
23
24
25
26
27
28
29
AGENCIES
TH IS GROUP CONSISTS OF FEDERAL HOME LOAN BANKS* FEDERAL NATIONAL MORTGAGE
ASSOCIATION, FEDERAL INTERMEDIATE CRED IT BANKS* BANKS FOR COOPERATIVES,
ANO FEDERAL LAND BANKS.
THESE AGENCIES ARE PRIVATELY OWNED AND ARE
EXCLUDEO FROM U . S . GOVERNMENT BUDGET ACCOUNTS AS OF 1969 AND FROM
U . S . GOVERNMENT FIGURES IN THESE ACCOUNTS FOR ALL YEARS.
1/70 DATA ARE BASED
7 .3 21
- 3 . 9 22
.1
.1
.1
.1
.1
.1
4.3
1.2
1 .6
1.7
7 .4
7 .1
1.1
1.1
1 1 .7
10.7
-.3
4.7
.6
5 .7
-.1
.4
5.3
12.6
13.1
.3
6 .6
.3
5 .9
.3
.8
4 .8
16.4
2
16. 0 3
4 .3
4
5 .8
5
.3
6
5 .6
7
. 3 8
9
1.0
4 . 4 10
6.9
7 .5
12.0
1 0 .9
1 0 .9
13.2
12.6
12.6
- .6
l.l
.6
16.2 11
1 5. 0 12
15.0 13
14
1.2 15
-2 .1
1.7
3 .7
*
*
*
1 .5
1 .7
1.8
-.1
-.2
1. 3
2.5
4.4
4. 1
_
-l.l
-1 .3
_
.1
_
1
12 MAY 1970
BANKING SYSTEM
BANKING SYSTEM
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIONS OF DOLLARS)
SEAS ADJ ANNUAL RATES
SEAS
YEAR TOTALS
1966
1967
1968
I
1968
I III
ADJ
ANNUAL
1969
IV
II
RATFS
I 1970
I
I
I II
MONETARY AUTHORITIES
1
CURRENT
2
3
4
5
6
7
8
9
10
11
♦
NET I N C R E A S E IN L I A B I L I T I E S
MEMBER BANK RESERVES
VA U L T C A S H OF C O M L . B A N K S
DEMAND DEPOSITS AND CURRENCY
DU E T O U. S . G O V E R N M E N T
DU E T O RE S T OF THE W O R L D
CURRENCY OUTSIDE BANKS
OTHER
12
13
14
15
*
*
2.3
-1.3
.2
-.4
-.1
3.8
3.7
4.2
-.3
.7
.3
.1
3. 5
3. 5
4.8
-.5
.5
*
*
4.8
4.8
3.8
-1.2
.2
1.0
*
3.7
3.8
4.1
-. 1
*
*
*
4.2
4.2
3.9
1.1
.1
-5 .0
.6
7. 2
7.4
7.6
3.1
.3
6.9
.1
-2 .9
-2.8
2. 2
.4
.3
4.2
1.3
.6
4.7
1.2
.5
3. 8
.9
1.3
4.1
.2
.2
3.9
-.8
3 .7
7. 6
2.9
2.9
*
-.1
2.1
♦
.2
.2
2 .0
-.1
.9
♦
2.1
*
-l.l
.1
2.4
.2
.6
- .1
2 .8
.4
-.3
.1
1.0
.2
*
.1
1 .9
-.2
SURPLUS
NET A CQ . OF F I N A N . A S S E T S
G O L D A ND F O R E I G N E X C H A N G E
T R E A S U R Y C U R R . + SD R C T F S .
F.R. F L O A T
F.R. L O A N S TO D O M E S T I C B A N K
C R E D I T MKT. I N S T R U M E N T S
U . S . GO V T. S E C U R I T I E S
*
*
*
*
*
*
♦
4.0
-.9
-.4
-.3
.5
5 .0
5 .0
5. 1
2.0
.2
3.2
. 2
-.4
-.4
7.0
-1 .5
.3
.6
-1.6
9 .2
9.1
4.0
2.3
. 9
5. 1
-l.l
.3
6. 9
-.4
- .3
-.1
*
3.2
-2 . 3
.1
-.1
2 .3
3. 5
2.4
-.1
4.3
I .0
-1 .3
.2
-.9
.2
12
13
14
15
4.0
.6
1
2
15. 7
7.2
3.4
5. 7
4 .2
2 .9
-1 .4
4
5
6
7
3
9
.3
- 3.8
3.1
1.4
*
*
1
4. 5
. 6
1.8
2 .5
8
.3
<*
2
3
4
5
6
7
8
.
4. 4 9
3. 2 1 0
3.0 11
COMMERCIAL BANKS
I . COMMERCIAL BANKS EXCLUDING AF F I L IA T E S NOT CONSOLIDATED IN CALL REPORTS
1
2
CURRENT SURPLUS
P L A N T «■ E Q U I P M E N T
3
4
5
6
7
8
9
2.1
.4
2 .5
.5
2.8
.4
3 .3
.6
3 .7
.6
3 .6
.7
3 .4
.4
3 .5
.6
3. 6
. 6
3. 8
.6
3.8
.6
NET ACQ. OF FIN AN . ASSETS
TOTAL LOANS AND INVESTMENTS
CREDIT MARKET INSTRUMENTS
U . S . GOVT SECU RITIES
DIRECT
AGENCY ISSUES
LOAN PART I C . CT FS .
30 .5
2 9.1
2 9 .0
-2 .3
-3 .1
1.1
-.3
20.1
1 6.8
16.2
-3 .6
-3 .4
*
-.2
3 9 .9
3 7 .0
35.5
9.4
6 .3
.3
2.9
4 3.2
3 9. 2
3 8.0
2 .8
1.7
l.l
*
11.8
9.9
11.1
-11.2
-9 .4
-.2
-1 .7
7 1.9
6 6. 9
52.2
12.2
9.8
1 .3
1.1
55.2
4 7 .0
51.2
-3 .1
-4 .9
2 .2
-.4
8. 5
8 .7
14.6
-1 5 .2
-1 2 .5
-1 .6
-1 .1
2 9. 4
2 2 .2
2 0 .0
-1 0 .7
-1 1 .3
-.6
1.2
.7
*
2. 5
-1 0 .3
-6 . 1
-. 4
-3 .7
9 .0
9.2
7.8
-8 .1
-7 .1
2.1
-3 .0
10
11
12
13
14
CTHER SE CU RI TIE S ♦ MTG.
STATE AND LOCAL OBLIG
CORPORATE BONDS
HOME MORTGAGES
OTHER MORTGAGES
10.6
5.1
-.1
3.1
2.5
6 .6
1 .9
.1
2 .4
2 .3
14.3
9.0
.8
2 .4
2 .2
15 .7
8 .7
.3
3 .5
3 .2
6 .0
1 .4
-.4
2 .6
2 .3
18.7
12.3
.2
3.4
2. 7
22 .7
14 .7
.4
3.9
3 .6
10.2
2 .6
4 .4
1 .0
.1
-2 .7
4.3
3 .4
9 .2
4. 9
-1 .6
3 .3
2 .6
1 .7
1 .8
1.2
1.6
15
16
17
18
19
20
21
OTHER CR. EXC. SECURITY
CONSUMER CREDIT
BANK LOANS N . E . C .
OPEN-MARKET PAPER
SECURITY CREDIT
VAULT CASH ♦ MEM.BK.RES.
MISC. ASSETS
20.7
4 .6
16.6
-.5
.1
.7
.7
13 .3
2 .6
9.1
1 .6
.5
1 .9
1 .4
1 1. 7
1.8
7.5
2 .4
1.5
1. 7
1.2
19.5
4.9
1 5. 7
-1 .1
1 .3
2 .1
1 .9
16.4
3 .3
12.5
.5
-1 .2
.4
1 .6
2 1 .4
6.0
16.2
-.9
14.7
2.9
2.1
3 1 .6
5 .9
2 4 .9
.8
-4 .2
5. 8
2.4
19.6
3 .7
15.9
-.1
-5 .9
-.2
*
2 1 .5
3.7
17.3
.5
2.2
3 .2
4.0
8 .4
2. 5
6.0
*
-2 . 6
-.8
1.5
15.8
3.1
11.1
1.6
1.4
-.7
.5
-9 .8
1.8
-10. 0
-1 .7
3 .8
6.2
2.3
15
16
17
18
19
20
21
29 .2
5 .6
-1 .0
6.6
18.9
.3
-.5
.8
3 8. 2
11.3
.2
11.1
41.4
9.3
-.2
9.5
9.8
3.3
-.1
3 .4
7 0 .0
3 8. 3
26 .6
11.7
5 2.7
5. 3
-9 .6
14.9
6.8
-1 1 .3
-6 .2
-5 .1
26 .4
4.2
2 .3
2 .0
-. 7
. 8
1.4
-.6
6 .8
17.6
1.9
15.7
13.7
1.8
1. 3
.5
22
23
24
25
2 0 .0
3 .8
16.2
13.3
-.8
1 4 .0
2 3 .8
4 .7
19.1
2 0. 6
2.5
18.1
-1 1 .0
-12.0
1.0
32.3
12.0
20 .3
27 .5
2.2
2 5 .3
-6 .8
-1 6 .7
9.9
-7 .9
-1 5 .4
7. 5
-2 1 .5
-1 2 .3
-9 .2
-7 .8
-3 .5
-4 .3
12.0 26
5. 6 27
6 .5 28
-.4
-.1
“
.8
-.1
.3
3 .1
.3
.1
.1
*
2.7
2 .3
♦
*
.2
♦
.2
2 .7
1 .0
♦
.2
-.2
1.8
8.7
*
♦
.6
.1
.2
7.0
9.6
-5 .0
.6
.2
.4
3 .6
-.4
6 .9
.1
-.1
-.8
-4 .3
18.0
-3 .8
.9
1.0
.1
*
14.3
12.3
- .3
. 5
.7
.3
.6
14.5
1 3. 7
3.2
.2
.4
*
.3
4 .4
11 .5
.6
-1 .6
.3
-.1
-.1
-5 .3
3.0
.4
•8
.7
.9
1.0
1.1
.4
1.2
.1
1.8
1 .0
7.3
6 .2
8. 7
12.8
9 .9
8.4
24. 8
18 .6
14.8
3
4
5
1 .6
1 .5
15
17
22
23
24
25
NET INCREASE IN L I A B I L I T I E S
DEMAND DEPOSITS* NET
U . S . GOVERNMENT
OTHER
26
27
28
TI ME DEPOSITS
LARGE NEG. CD'S
OTHER
29
30
31
32
33
34
35
F . R . FLOAT
BORROWING AT F . R . BANKS
LOANS FROM A F F I L IA T E S
BANK SECURITY ISSUES
PROFIT TAX L I A B I L I T I E S
L IA B . TO FGN. BRANCHES
OTHER MISC. L I A B I L I T I E S
36
DISCREPANCY
-
_
_
7.5 10
4 .6 11
12
1.5 13
1.3 14
_
2. 5
-. 8
.5
.2
.6
-1 1 .1
8 .0
29
30
31
32
33
34
35
1 .4 36
COMBINED STATEMENT FOR BANKS, HOLDING COMPANIES, ANO OTHER A F F I L IA T E S
(WHERE DIFFERENT FROM PART I ABOVE) 1/
20A
21
NET ACQ. OF FIN AN . ASSETS
TOTAL LOANS AND INVESTMENTS
CREDIT MARKET INSTRUMENTS
3 0 .5
2 9. 1
2 9 .0
20.1
16.8
16.2
3 9.9
3 7 .0
3 5 .5
43 .2
39.2
38.0
16.9
1 3. 7
14.9
7 1. 9
6 6 .9
52.2
55.2
47.0
51.2
1 0 .9
10. 1
16 .0
37. 0
2 9.2
2 7.0
OTHER CR . EXC. SECURITY
BANK LOANS N . E . C .
2 0 .7
16 .6
13.3
9 .1
1 1 .7
7.5
19.5
1 5. 7
2 0 .2
16 .4
2 1. 4
16.2
3 1. 6
2 4 .9
2 1 .0
17.3
2 8 .5
2 4 .3
14 .6
12.2
16.5
11.7
.7
1 .4
1.2
.6
2 .3
-
-
1.9
2.1
2.4
1 .0
♦
.7
4 .0
. 4
1. 5
.3
3.3
2 9.2
3 .3
1 8. 9
5 .0
3 8. 2
—
2.9
41.4
1 0.5
14.9
4.2
17.5
7 0. 0
3 .2
5 2.7
13.7
9 .2
.8
28 .2
34. 1
4 .2
3 1 .7
5. 9
5.0
1 7.5
10.6
6. 9
-5 .3
22.8
7.2
-1 .2
22
32A
34+35
LOANS TO A F F I L I A T E BANKS
MI SC . ASSETS
22
32A
5
NET INCREASE IN L I A B I L I T I E S
COMMERCIAL PAPER ISSUES
MISCELLANEOUS L I A B I L I T I E S
-
. 5 20A
- . 5 21
NTS INCLUDED IN PART I I ABOVE FOR HOLDING COMPANIES AND AFFIL IATES
1 TOTAL ASSETS
2
BANK LOANS N . E . C . 1/
3 LOANS TO A F F I L I A T E BANKS
4 MISCELLANEOUS ASSETS
-
-
-
~
5.1
3 .8
.6
.7
-
-
2.4
1.4
1.0
-
7.7
7 .0
.7
-
6.6
6.2
.4
-
3 .8
.7
.3
2.8
9. 1
11.4
.5
-2 .8
I
2
3
4
5 TOTAL L I A B I L I T I E S
6 COMMERCIAL PAPER ISSUES!/
7
MISCELLANEOUS L I A B I L I T I E S
~
-
“
—
“
5.1
4 .2
.9
-
-
2 .4
.8
1 .6
7 .7
4 .2
3.5
6.6
5. 0
1.5
3.8
6 .9
-3 .0
9 .1
7.2
1 .9
5
6
7
—
1/70 DATA ARE BASED ON PRELIMINARY INFORMATION SUBJECT TO REV ISION.
1/
Part II shows only those lines of Part I that are affected by combining affiliates into the bank statement.
Part I, except 20A and 32A, which are additional lines.
Part II is a combined, not consolidated,
2/ Federal Reserve Bulletin. May 1970, page
http://fraser.stlouisfed.org/
3/ Ibid.. p. A37.
Federal Reserve Bank of St. Louis
statement:
A32.
loans from affiliates to banks are included.
Line numbers correspond to those
12 HAY 1970
NONBANK FINANCE SUMMARY
N ONBANK FINANCE
SU MMARY
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(B ILLIO N S OF DOLLARS)
SEAS ADJ
ANNUAL RATES
1965
PRIVATE NONBANK FINANCIAL
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
CURRENT SURPLUS
PHYSICAL INVESTMENT
NET ACQUIS. OF FI N A N . ASSETS
DEM. DEPOSITS ♦ CURR.
TIME DEPOSITS (MSB)
SVGS. + LOAN SHARES (CR U)
CREDIT MKT. IN STR .
U . S . GOVT. S EC U RI TIE S
STATE ♦ LOCAL O B LI G.
CORPORATE ♦ FGN. BONDS
CORPORATE STOCKS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
OTHER LOANS
SECURITY CREDIT
TRADE CREDIT
MISCELLANEOUS ASSETS
19
20
21
72
23
24
25
26
27
28
29
NET INCREASE IN L I A B I L I T I E S
TIME ♦ SVGS. ACCOUNTS
INSURANCE AND PENSION RE S .
CREDIT MKT. INS TR.
FINANCE CO . BONDS
INVESTMENT CO. SHARES
MTG. LOANS IN PROCESS
BANK LOANS N . E . C .
OTHER LOANS
FINANCE CO. PAPER
FHLB LOANS
30
31
32
SECURITY CREDIT
TAXES PAYABLE
MISCELLANEOUS L I A B I L I T I E S
33
DI SCREPANCY
1 .4
.4
1 .6
.5
1 .4
.6
4 1 .3
.3
*
*
39.0
-.1
-.5
7 .4
5 .7
1 2. 0
7 .8
3 .8
2.9
3 4.9
-.1
*
-.2
3 3. 2
.4
.8
8 .0
5.9
5 .1
6.8
2.9
3 .3
4 4 .4
1.0
*
.3
37.1
-. 9
1 .2
11 .0
9. 0
8 .0
6.8
1 .4
.6
.2
.2
1.7
-.1
.2
2. 0
4 0 .6
13.1
15.7
9 .1
1 .9
3.1
*
2 .4
1. 7
1.0
.7
1969
1968
1
| III
IN S TI TU T IO NS -
IV
1
1
1969
I
II
III
IV
1 1970
1
I
TOTAL
.1
.8
.1
.8
-.2
.7
-2 .4
. 8
.7
. 8
4 9. 0
1 .0
.1
-.2
4 4 .9
1.6
1 .0
9.4
9 .7
8.6
7.1
3.8
3.7
48 .0
.3
-.1
*
4 9 .3
-.5
1 .0
7.2
12.8
9 .4
6.3
4 .2
9.0
58.3
2 .5
-.3
5 4 .2
4 .5
.2
14.2
14. 7
8 .2
6 .9
3.9
1 .4
4 5 .7
1.3
-1 .0
39.1
-9 .7
.6
8 .5
1 2. 6
12.0
8 .7
4.4
2.0
3 7. 9
-1 .5
-.2
.3
44.1
-3.1
.2
7 .9
10.2
10 .8
6.2
4.4
7 .6
5 6 .5
1 .0
-.2
-. 6
5 6 .8
4.4
.4
8.2
12.7
11.2
6. 5
5. 3
8.2
49. 6
.1
-.1
53. 2
-3 .3
2.1
1 0. 8
1 3.0
7 .4
6. 8
3.6
12. 8
1. 8
_
.3
43. 9
-.1
1.0
1.9
15.4
8.1
5 .9
4.3
7.4
2. 8
.3
2.9
2.0
.3
.9
-2 .6
.3
.7
-.2
.3
1.9
5 .0
.3
1.0
-6 .3
.3
l.l
-. 6
. 3
- .2
-5 .2
.3
1.2
I .8
.3
. 7
3 4 .7
7.0
16. 7
6.6
.8
3.7
-.9
-1 .3
4 .3
3.4
. 9
4 4 .6
1 7 .0
1 8.7
1.7
1.0
2 .5
1.0
-2 .1
-.7
1.8
-2 .5
4 8 .7
12.4
18 .2
11.4
.8
4 .7
.2
2 .3
3 .3
2 .5
.9
49 .3
8. 0
18.7
17.9
1.6
5. 6
*
2.1
8.6
4 .6
4 .0
58 .3
11.5
19. 1
7 .7
.7
4.8
-.1
2.7
-.5
-.5
*
4 6 .2
12.4
1 9.6
13.7
.9
5 .0
.6
2 .4
4 .9
4.6
.2
43.2
13.4
16.7
1 5 .9
1 .4
7.5
.7
1. 0
5.2
2 .3
2 .9
55.9
8.5
18 .6
19. 7
2.2
4 .6
.3
4. 8
7. 7
4 .6
3 .1
51. 8
5. 8
22. 2
21.9
1 .4
6. 0
- .4
.7
14. 7
8 .9
5. 3
46.3
4.2
1 7. 3
14.2
1.3
4. 1
-.7
2. 1
7.3
2.6
4. 8
*
.2
2.6
.6
*
3. 8
2 .1
-.1
5.2
2 .0
*
4.6
-2 .2
.1
6 .9
13.7
.1
6 .2
-2 .5
*
3 .1
-9 .4
.1
6 .6
I. 8
*
7 .5
-4 . 5
. 2
6. 1
3.4
*
7.2
3.5 3 0
* 31
7. 7 32
.2
.8
.9
-.9
.6
-.6
-.4
2. 2
-.6
1 .9
-1 .7
.4 33
.1
.7
.5
.8
1 .6
.8
.5
.9
1
7
00
00
1
2
ADJ A N N U A L R A T E S
SEAS
YEAR TOTALS
1966
1967
1968
41. 4
-.8
.9
45. 0
4. 1
1. 5
10 .4
11.9
?. 9
c'. 5
3.1
5. 6
3
4
5
6
7
8
9
!0
!1
12
13
14
I^
-4 .6 16
. 3 I1
. 6 13
42 . ?
5.3
17. H
7. ^
2. (S
2.8
-1.2
-3.2
6 .9
2. 5
4.4
\9
20
73
?.?.
?3
?4
25
76
27
2*?
29
SAVI NGS AND LOAN ASSOCIATIONS
1
CURRENT SURPLUS
1 .0
.9
1 .0
1 .1
1.3
1.2
1.3
1.3
1.3
I. 3
1.3
1.3
I
2
3
4
5
6
7
8
9
NET ACQ. OF F IN AN . ASSETS
DEMAND DEPOSITS ♦ CURRENC
CREDIT MKT. IN S TR .
U . S . GOVT. S EC URI TIE S
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
MISC. FINANCIAL TRANS.
10.2
♦
9 .6
.5
7. 1
1.9
.1
.6
4.6
-.5
4. 2
.4
2 .9
.9
*
.9
9.7
-.3
9 .2
1 .6
6 .0
1 .5
*
.8
9 .3
-.4
10 .0
.6
7 .2
2 .1
.1
-.3
9 .4
-.2
10.0
.4
8 .0
1. 5
•
-.4
8 .9
-.6
9.0
-.2
6.9
2 .2
.1
.5
7.6
.1
7 .5
-3 .9
8 .9
2.4
.1
*
12.8
-.1
1 2. 6
1. 9
9 .1
1.7
*
.3
10. 1
-. 5
11.7
.4
9. 5
1 .7
. 1
-1 .2
8. 2
*
8 .8
-.1
7 .4
1.6
*
-.6
6 .5
*
6 .8
-.4
6.1
1.2
-.1
-.3
6. 1
.2
6 .4
1. 9
3. 2
1 .4
-.1
-. 5
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
NET INCREASE IN L I A B I L I T I E S
SAVINGS SHARES
CREDIT MKT. IN STR .
MTG. LOANS IN PROCESS
BORROWING FROM FHLB
BANK LOANS N . E . C .
MISCELLANEOUS L I A B I L I T I E S
9.4
8 .5
.8
*
.7
.2
•1
4 .0
3.6
.1
-.9
.9
.1
.3
9.3
1 0.7
-1 .7
1 .0
-2 .5
-.2
.3
8 .5
7.3
l.l
.2
.9
.1
.1
8 .5
4 .0
4.1
*
4 .0
.1
.3
8 .4
7.2
-.1
-.1
*
-.1
1.3
6.3
6 .8
1. 3
.6
.2
.5
-1 .7
1 2. 3
8 .0
3.2
.7
2. 9
-.4
l.l
9.1
4.6
3.6
.3
3 .1
.2
.9
7 .5
3.0
5.1
-.4
5.3
.2
-.6
5.0
.5
4 .6
-.7
4.8
.5
*
5.4
2.1
2.6
-1 .2
4.4
-.6
. 8
10
11
12
13
14
15
16
.2
.8
.3
.9
.5
-2 .9
.4
.9
.4
4.4
.7
-.6
♦
.2
.7
3 .4
.3
3.8
.6
5 .6
-.1
4 .8
17
18
DISCREPANCY
MEMO- FHLB LOANS LESS DEP.
.6 17
4 .5 18
MUTUAL SAVINGS BANKS
1
CURRENT SURPLUS
.3
.2
.1
.2
.2
.2
.2
.2
.2
.2
.2
.2
1
2
3
4
5
6
7
8
9
10
11
12
13
14
NET ACQ. OF FINANCIAL ASSET
DEM. DEPOSITS ♦ CURR.
TIME DEPOSITS
CREDIT MKT. IN S TR .
U . S . GOVT. SE CU RI TI ES
STATE ♦ LOCAL GOVT. SEC.
CORPORATE BONDS
CORPORATE STOCKS
HOME MORTGAGES
OTHER MORTGAGES
CONSUMER CREDIT
OTHER LOANS
MISCELLANEOUS ASSETS
4 .0
*
•
3 .9
-.3
-.1
-.1
.2
2.7
1.4
.1
*
.1
2. 8
*
*
2.7
-.5
-.1
.3
*
1.6
1 .1
.1
.1
.1
5 .4
*
♦
5 .2
-.3
*
2 .1
.2
1.8
1 .4
*
.1
.1
4.6
-.1
.1
4 .3
-.3
*
1 .4
.3
1.4
1.4
.2
*
.2
3 .1
*
-.1
3.0
-.5
*
.3
.3
1.4
1. 2
.2
.3
.1
4.5
.4
—
3 .8
-.8
*
1.2
.3
1. 4
1 .4
.2
.1
.3
4.0
-.5
3.5
.2
-.2
3.5
-.5
*
.8
.3
1 .5
1 .2
.2
.1
*
1.8
*
4 .3
-l.l
*
1.6
.3
2 .1
1.7
*
-.3
.1
4 .8
-.1
-.2
4 .9
.3
*
.8
.3
1.6
1. 3
.2
.5
.2
1.4
-1 .0
♦
-.3
.3
l.l
1.0
.1
.3
.5
2.0
-.1
2 .3
-.8
*
-.2
.3
1.3
1.2
.2
.2
-.2
2.8
.1
2 .7
-. 6
.1
.7
.3
.7
.5
.2
.8
*
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
SAVINGS DEPOSITS
MISCELLANEOUS L I A B I L I T I E S
3.6
.1
2.6
*
5.1
.1
4.1
.2
2 .6
.2
3.4
.5
4.5
.2
3. 8
.1
2.7
.5
1. 5
-.1
2 .4
.3
1.5 15
.2 16
17
DISCREPANCY
*
*
*
-.1
-.1
-.4
.9
-.7
-.2
-.2
.9
-
—
-.9
17
CREDIT UNIONS
1
2
3
4
5
6
NET ACQUIS. OF F IN AN . ASSET
DEM. OEPOSITS ♦ CURR.
SVGS. ♦ LOAN SHARES
CREDIT MKT. IN S TR .
CONSUMER CREDIT
HOME MORTGAGES
1 .0
*
•
1.0
1.0
*
•8
*
-.2
1 .0
.9
.1
1 .2
.2
.3
.8
.7
*
1.1
*
-.2
1 .2
1 .2
*
1 .4
-.1
*
1.5
1 .4
•
.9
.1
-.3
1.2
1.2
*
1. 2
.1
-1 .0
2 .1
2 .0
*
1. 6
-.1
.3
1 .4
1.3
*
1 .2
-.1
-.6
1 .8
1. 8
*
1 .3
-.1
-.1
1.5
1.4
*
1 .4
-.1
.3
1.1
l.l
•
1.6
-.1
.9
. 8
.7
*
1
2
3
4
5
6
7
CREDIT UNION SHARES
1 .0
.8
1 .2
1.1
1 .4
.9
1.2
1 .6
1 .2
1 .3
1.4
1 .6
7
1/70 DATA ARE BASED ON PRELIMINARY INFORMATION .SUBJECT TO R EV ISIO N .
12 HAY 1970
INSURANCE ♦ PENSION FUNDS
INSURANCE ♦ PENSION FUNDS
SECTOR STATEMENTS OF SAVING AND INVESTMENT
(BILLIO N S OF DOLLARS)
9
SEAS AOJ ANNUAL RATES
SEAS ADJ ANNUAL RATES
YEAR TOTALS
1966
1967
1968
1969
I
1968
I III
1969
II
III
IV
I 1970
|
I
L I F E INSURANCE COMPANIES
1
2
CURRENT SURPLUS
PHYSICAL INVESTM B<T
1 .0
.4
1.1
.5
.9
.6
.6
.7
.6
.8
.6
.8
.6
.7
.6
.8
.6
.8
.6
.8
.6
.8
.6
.9
1
2
3
4
5
6
7
8
9
10
11
12
13
NET ACQUIS* OF F IN A N . ASSETS
DEM. DEPOSITS ♦ CURR.
CREDIT MKT. INSTRUMENTS
U . S . GOVT. S E CU R IT IE S
S TA TE ANO LOCAL O B L IG .
CORPORATE BONOS
CORPORATE STOCK
HOME MORTGAGES
OTHER MORTGAGES
OTHER LOANS
MISCELLANEOUS ASSETS
8 .7
8.2
-.4
-.3
2 .8
. 7
1.1
3. 8
.6
•5
8 .3
*
8. 1
— .3
-.4
2.4
.3
•6
4. 0
1. 5
.2
9.4
♦
8.4
-.3
-.1
3 .8
1.1
-.5
3.4
1 .0
.9
9 .3
.1
8.6
-.2
*
3.8
1 .4
-.7
3.2
l.l
.6
8 .9
-.1
8 .5
-.5
.2
1 .9
1 .6
-1 .0
3.1
3 .2
.5
8.8
.8
7.3
*
-.7
3 .0
1.3
-.8
3 .3
1.3
.7
9.1
*
8 .5
-.5
.2
3.8
1.7
-1 .0
4 .0
.2
.6
9.1
*
8 .6
-.9
.2
2 .9
1.9
-.7
2 .7
2 .5
.5
8.8
- .4
8.6
-.3
.1
2 .7
1.8
-.6
2.9
2 .0
.5
9.6
-.4
9 .6
-.7
. 5
2 .1
l.l
-. 8
3. 2
4.2
.4
8. 2
.6
7.1
-.3
.2
-.3
1.7
-1 .9
3. 4
4 .2
.5
8. 3
-. 9
8. 7
-. 3
-. 7
2.0
1.0
- .6
3. 1
4. 2
.5
3
4
5
6
7
8
9
10
Ll
12
13
14
15
16
17
NET INCREASE IN L I A B I L I T I E S
L I F E INSURANCE RESERVES
PENSION FUND RESERVES
OTHER L I A B I L I T I E S
7.9
4 .7
2 .1
1. 2
7 .9
4. 5
2 .1
1.2
9 .0
4.7
2 .6
1.8
9 .1
4.6
2 .9
1 .5
9 .4
4 .5
3 .0
1 .8
9 .0
4.5
3 .0
1. 5
9 .2
4.5
3 .0
1.7
10.5
5.3
3 .4
1.8
8 .1
3.7
2. 6
1.9
9.4
4 .5
3.0
1. 8
9 .5
4.4
3.1
1 .9
9. 6
4. 4
3. 1
2 .1
14
15
16
17
18
DISCREPANCY
-.3
.1
-.1
-.4
.3
*
-.1
1.2
-.8
-.3
l.l
1. 1 18
7.0
.8
5 .9
.1
.7
5 .0
♦
.2
7 .3
.6
6 .7
.7
.3
5.7
*
.1
3.9
-1 .6
5 .7
.5
-.8
5 .8
.1
-.2
7.0
1.6
5 .5
.1
.7
4.8
-.1
-.1
7 .7
-. 6
8.0
1.9
1 .3
4. 5
.2
.4
4.7
.1
4 .6
.3
-.3
.5
-.2
4.5
2.3
1.7
.5
.1
4 .1
—. 2
4 .2
-1 .0
-1 .3
.3
-.1
5 .2
3.6
1.2
,4
.1
5 .3
-.6
5.8
-.4
- .4
.1
-.2
6 .3
3.9
2.0
.4
.1
7 .0
.5
6 .4
.4
♦
.4
-.1
6.1
3 .4
1.9
.8
.1
3 .5
-.1
3 .5
.5
.5
.1
-.1
3.1
1.1
2.1
-.1
.1
PRIVATE PENSION FUNDS
1
2
3
4
5
6
7
8
NET ACQ. OF FI N AN . ASSETS
DEM. DEPOSITS ♦ CURR.
CREDIT MKT. INSTRUMENTS
U . S . GOVT. S EC U R I TI E S
CORPORATE BONDS
CORPORATE STOCK
MORTGAGES
MISCELLANEOUS
5.6
*
5 .2
*
1.5
3.1
.6
.3
6 .1
*
5 .5
-.5
1 .9
3.7
.5
.6
6.7
.4
5.4
-.6
.9
5.0
.1
.8
STATE ♦ LOCAL GOVT.
1
2
3
4
5
6
7
8
9
10
11
12
NET ACQ.OF F IN AN . ASSETS
DEMAND DEP. AN0 CURRENCY
CREDIT MKT. INSTRUMENTS
U. S. 6DVT.SECUR IT IES
DIRECT
U . S . G . AGENCY SEC.
STATE ♦ LOCAL OBLIGATION
OTHER CR.MKT.INSTRUMENTS
CORPORATE BONOS
CORPORATE STOCK
MORTGAGES
OTHER
3 .3
♦
3.3
.4
.2
.2
-.3
3.2
2.1
.4
.7
.1
4 .0
.1
3.8
.2
.1
.1
-.1
3.8
2.5
.5
.8
.1
4 .6
.1
4.5
•
-.2
.2
-.1
4.6
3.4
.7
.5
.1
6.4
.3
5.8
.5
.7
4.7
*
.2
6.2
-.1
6 .2
.3
.5
5 .4
.1
.1
6 .3
.4
5 .6
-1 .5
.6
6.4
.1
.3
5. 7
-.8
6 .2
.2
.7
5.0
.3
.3
1
2
3
4
5
6
7
8
EMPLOYEE RETIREMENT FUNDS
4 .3
.1
4 .1
*
-.4
.4
-.1
4 .1
2.4
1. 3
.4
.1
5 .0
~ •1
5.0
-.1
-.3
.2
”.1
5.2
3*0
1-8
•4
■1
4.6
.4
4 .1
-.4
-.9
.4
*
4 .6
3 .2
1 .3
.1
.1
4.7
1
*
2
4.5
3
.4
4
.4
5
*
6
7
-.1
4 .2
8
1 .9
9
2 . 0 10
.3 11
.1 12
OTHER INSURANCE COMPANIES
1
CURRENT SURPLUS
-.1
.5
.4
.1
-.1
*
-.1
-.1
-.1
-.1
-.1
-.1
2
3
4
5
6
7
8
9
10
NET ACQ, OP F IN AN . ASSETS
DEMAND OKPOSITS ♦ CURR INC
CREDIT MKT • IN S T RUM! NTS
U . S . GOVT* S EC U RI TI ES
STATE AND LOCAL O IL 16.
CORPORATE BONDS
CORPORATE STOCK
COMMERCIAL MORTGAGES
TRADE CREDIT
1*2
-• 1
1. 1
•
•4
.6
•1
*
•2
2.1
*
1.9
-.4
1. 3
.6
•4
*
.2
2.3
*
2 .1
-.7
1.4
,7
.4
•
.3
3.4
.1
3.0
-.3
1 .0
1 .2
1.1
•
.3
3.0
•
2.6
—. 5
1. 0
1.1
1.0
•
.3
3.5
.1
3.0
-.5
1.0
1 .2
1.3
.3
3.5
.1
3 .1
-.4
1 .0
1 .2
1 .5
•
.3
2 .2
*
1 .9
-.4
.9
.2
1.1
*
.3
3. 0
*
2 .7
1.0
.5
*
1 .2
*
.3
3.3
-.1
3 .0
-2 .1
1. 7
3.1
.3
*
.3
3. 3
*
2.9
-.3
.8
1.0
1.3
♦
.3
3 .5
2
*
3
3.1
4
-.2
5
1 .4
6
7
1.3
.6
8
.1
9
.3 10
11
12
NET I N C R IA S i
DISCREPANCY
1 .4
•9
l.l
•1
2*1
•t
2.3
-1 .0
2.7
-.3
2 .4
-l.l
2.5
-l.l
2.7
.4
2 .7
-.4
2.8
-.4
2.8
-.4
3 . 0 11
- . 6 12
1/ 7 0
IN L I A I I L I T H S
DATA ARE B A S I I ON P M L I M I N A I Y INPORNATION S U I J I C T TO R IV I S I C
1
12 MAY 1970
FI NA NC E N.E.C.+ FOREIGN
FINANCE
N . E . C . ♦ FOREIGN
10
SECTOR STATEMENTS OF SAVING AND INVESTMENT
I BILLIO NS OF DOLLARS)
SEAS ADJ ANNUAL RATES
SEAS AOJ ANNUAL RATES
I
CURRENT SURPLUS OF GROUP
1965
1966
-.7
-I.I
YEAR TOTALS
1967
1968
1969
-1 .9
-1 .9
I
1968
I III
1969
I
IV
II
I
III
-1 .3
I 1970
I
I
IV
-1 .6
FINANCE COMPANIES
NET ACQ. OF FINAN . ASSETS
DEMAND DEP.+ CURRENCY
HOME MORTGAGES
CONSUMER CREDIT
OTHER LOANS ( TO B U S .)
S
CORPORATE BONDS
BANK LOANS N. E. C.
CPEN MARKET PAPER
5 .4
.2
.5
2 .6
2 .0
2.6
.2
-.6
1 .8
1.2
.9
.2
.4
.6
-.4
5 .5
.2
.6
2.4
2 .2
8 .1
.3
.8
2 .6
4.3
3.0
.2
.5
2.4
-.1
7 .6
.3
1.9
2 .3
3.2
4.9
.3
.7
2.9
1. 0
11.1
.3
.8
3 .2
6 .8
8. 5
.3
-.5
2.1
6.7
8.5
.3
2.3
3 .1
2.7
2 .5
.3
7
2. 3
•6
1
2
3
4
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
8 .2
1 .6
2.0
4 .6
3 .0
.7
2 .8
-.5
7.4
.9
1 .9
4.6
5 .1
1.4
1 .4
2 .3
11 .4
2 .2
4 .6
4 .6
1 0. 8
1 .4
. 5
8 .9
5 .5
1.3
1 .6
2.6
2. 5
2.6
-2 .5
2 .5
6
7
8
9
SECURITY BROKERS AND DEALERS
.7
.1
.7
1
-.2
2.4
.2
-.8
.1
2.8
2.3
.4
.8
-.9
2 .0
-2 .0
.3
*
.4
-2 .6
1 4.0
.4
4.7
8.9
*
-2 .2
.3
-3 .6
-3 .6
4.7
-9 .2
.3
-3 .3
.3
-6 . 5
2 .0
.3
3.0
-.9
-.5
-4 .2
.3
-2 .7
3.4
-5 .2
3.6
.2
2 .9
-1 .3
1.8
3. 7
.2
2. 5
5.8
-4 .8
I
2
3
4
5
R
NET INCR. IN L I A B . - SEC. CR
FROM BANKS
FROM AG. OF FGN. BANKS
CUSTOMER CREDIT BALANCES
*
-.3
-.3
.5
.6
.6
.1
#
2.1
.9
2.0
1 .0
-2 .2
-1 .2
1 .0
-1 .0
-2 .5
-5 .4
.3
2.6
-9 .4
-7 .7
.2
-1 .9
1 .8
2 .8
-.1
-.9
-4 .5
-2 .3
*
1 .2
13.7
14.7
-.2
-.7
3.4
2.4
1 .0
3 .5
4.9
. 2
-1 .6
6
7
8
9
3.0
-.1
3.1
*
.5
3 .1
-.4
.
_
|
1 I
(M
.1
.1
-.3
-.1
.5
CM |
NET ACQ. OF FI N A N . ASSETS
DEMAND DEP. ♦ CURRENCY
U . S . GOVT. SECURITIES
CTHER S E C U R I TI E S
SECURITY CREDIT
OPEN-END INVESTMENT COMPANIES
CURRENT SURPLUS
NET ACQ. OF F IN AN . ASSETS
DEM. OEPOSITS + CURR.
CREDIT MKT. INS TR.
U . S . GOVT. SECU RITIES
CORPORATE BONDS
CORPORATE STOCKS
COMMERCIAL PAPER
2.0
.1
2.0
* •
.4
1.2
.3
NET STOCK ISSUES
-.7
-1.2
-2.2
-2 .5
2 .5
*
2.5
.6
.4
1.0
.5
1.1
.2
.9
-.5
*
1 .5
*
2.5
.1
2.4
.2
.4
1.5
•3
3.3
-.1
3 .4
-.5
.2
2.5
1.2
2 .7
-.2
2.8
1 .4
.4
1.0
2.5
.3
2.2
-i.O
.9
3.4
-1.0
2.8
-.1
2.9
-.7
.5
-.7
3. 8
3.7
2 .5
4 .7
5.6
5.0
7. 5
4 .1
-.1
4. 1
.2
-.6
3 .3
1 .3
3 .4
-1 .3
.3
4.3
.2
.9
-.1
l.l
-.9
1 .4
.6
.1
6.0
4 .1
2.8
1.5
.3
.8
♦
1. 6
.4
1.2
1.3
.2
l.l
.2
I
2
3
4
3 .4
AGENCIES OF FOREIGN BANKS
NET ACQUIS. OF F IN AN . ASSETS
DEM. DEPOSITS ♦ CURR.
U . S . GOVT. SE CU RITIES
SECURITY CREDIT
-.5
-.1
-.1
-.3
DEPOSIT L I A B I L I T I E S
-.5
5
.1
.1
.5
.1
.6
.2
*■■
.1
.2
*
* ■
.3
.4
*
.3
.2
.8
.2
1 .1
-.2
.3
.2
•4
.8
1 .5
1 .6
1. 3
5
3.7
60 . 7
5 7 .0
2 .7
-1 .0
1
2
3
4
5
-1 .7
6
•
7
-.4
8
9
2 .2
4. 0 10
1.1
.2
.8
.3
.1
.2
-.2
1.1
.
REST OF THE WORLD
1
2
3
4
5
6
7
8
9
10
NET U. S.E XP ORT S
U.S.EXPORTS
U . S . IMPORTS
TRANSFER RECEIPTS FROM U . S .
CURRENT ACCOUNT BALANCE
6.9
3 9 .2
32 .3
2. 8
-4 .1
5.3
43.4
38 .1
2.8
-2 .4
5. 2
46 .2
4 1 .0
3.0
-2 .2
2.5
5 0 .6
48 .1
2.9
.3
2 .1
55.3
53.2
2.7
.6
3.6
5 3 .4
4 9 .7
3.1
-.6
1.2
5 0 .6
49.4
3.1
1.9
1 .5
47.6
4 6 .1
2.4
1 .0
1 .6
57.1
5 5 .5
2.8
1 .2
2.6
5 7 .8
55 .2
2.6
~
2.7
58 .6
5 5. 9
3.0
.3
NET FINANCIAL INVESTMENT
NET ACQUIS. OF FI N A N . ASSET
GOLD * SDR'S
U . S . DEM. DEP. AND CURRENCY
TIME DEPOSITS
-3 .7
1 .9
1. 7
.3
.6
-2 .0
3.3
.6
-1 .0
•8
-1 .1
7 .6
1 .2
.6
1.4
1. 2
8 .3
1 .2
-.2
*
3 .7
10.1
-1 .0
.2
1. 2
-.8
7 .0
-.3
-.7
1 .0
2 .8
1 0 .5
-.5
-.2
-.1
5 .4
13 .8
.2
.2
— .4
5.7
14.9
-1 .3
*
* -1 .4
4. 0
1 2 .3
*
.7
.7
-.4
— .6
— 2 .8
-.2
6.0
3.2
.6
.3
1.8
.4
9 .2
4 .2
.7
3 .0
1.4
-1 .5
-6 .2
.9
3.0
.8
1 .3
-l.l
.2
.5
1.7
6 .0
3.6
.7
1.7
2 .1
-.5
.8
1 .9
-.2
2 .2
I .5
.3
-.4
. 8
11
12
13
14
15
11
12
13
14
15
CREDIT MKT. INSTRUMENTS
U . S . GOVT. SECU RITIES
U . S . CORPORATE BONDS (3)
U . S . CORPORATE SHARES
ACCEPTANCES
-.3
-.2
— .1
- .4
.4
-1 .8
-2 .4
.6
-.3
.3
2 .8
2 .1
-.1
.7
.2
2.3
-.5
.3
2.0
.6
1.9
-l.l
.5
1.5
1.0
16
OTHER FINANCIAL ASSETS11I
-.3
4 .7
1.6
5.1
7.7
3 .8
2-1
15 .3
16 .3
4 .9
-5 .6
-8 *0 16
17
18
NET INCREASE IN L I A B I L I T I E S
O F FI CI AL U . S . FGN. EXCHAN
5.6
.4
5.3
•
8 .7
l.l
7.1
2.1
6.5
.3
7.8
2.0
7 .7
3 .7
8 .5
.4
9.3
-.1
8 .3
2. 8
-.2
-1 .9
1. 7 17
- 2 .5 18
19
20
21
22
23
CREDIT MKT. INSTRUMENTS
SE CURITIES
BANK LOANS N .E .C .
OTHER LOANS
OTHER L I A B I L I T I E S ( 2 )
2 .6
.8
.4
1. 5
2.5
1.5
. 5
-.2
1.2
3.8
4.1
1.3
-.2
3 .0
3.5
3 .0
1 .3
-.3
2.0
2 .1
3 .5
1. 4
-.3
2.4
2 .7
2 .6
1. 1
-.3
1.8
3.2
2 .9
2. 0
-.7
1.6
1.1
4 .2
1. 4
.3
2.4
3.8
5 .5
1 .6
.5
3.4
3 .9
2.4
2.0
-1 .4
1.8
3.1
2.1
.5
-.5
2. 0
“ •3
-.3
-.4
-1 .0
-.9
-3 .1
.2
-.8
-4 .4
-4 .5
-4 .0
.7
24
DISCREPANCY
(1 )
TRADE CRED IT, SECURITY CR ED IT, FGN. BRANCH CLAIMS ON U . S . BANKS,
DEPOS IT S AT U . S . AGENCIES OF FGN BANKS, DIRECT INVESTMENT I N U . S . ,
AND UNALLOCATED ASSETS
(2 )
MAINLY U . S . DIRECT INVESTMENT ABROAD.
Excludes direct investment financed by foreign security issues.
1/70 DATA ARE BASED ON PRELIMINARY INFORMATION SUBJECT TO R E VI S IO N.
(3)
Excludes foreign security issues by U.S. corporations to finance direct investment abroad.
.*
1 .9
1 .4
.1
•3
2. 3
19
20
21
22
23
. 7 24
12 MAY 1970
MONETARY AND INSURANCE RESERVES
MO N ETARY ANO INSURANCE RESERVES
GOLO« O F F I C I A L FOREIGN EXCHANGE* TREASURY CURRENCY, ANO INSURANCE RESERVES
(B IL L IO N S OF DOLLARS)
SEAS ADJ ANNUAL RATES
S E A S A D J A N N U A L RATES
1965
YEAR TOTALS
1966
1967
1968
1969
!1
1968
|1 I I I
IV
1
1
1969
I
II
III
IV
I 1970
1
I
GOLD AND OFF IC IA L FOREIGN EXCHANGE HOLDINGS
I.
GOLD ♦ SPECIAL DRAMING RIGHTS
1 U . S . GOLO STOCK AND SDR *5 ( I )
2
U . S . GOVT. (E X . STAB. FUND)
3
MONETARY AU THO RIT IE S ( 2 )
-1 .7
*
-1 .7
4 MEMO— TOTAL WORLD GOLO STOCK
-.6
*
-.6
-1 .2
*
-1 .2
-1 .2
.4
-1 .6
1 .0
1.0
-
.3
.3
-
.5
.5
.2
*
-1 .6
-.9
.1
.8
-
-.2
-.2
-
1 .3
1 .3
-
*
*
-
2 .8
2 .8
.4
-3 .6
4 .0
I
2
3
.6
-.3
-.3
.5
.5
4
I I . U . S . FOREIGN EXCHANGE POS ITION
5 TOTAL U . S.POSI TI0N
.4
<0
1. 1
2 .1
.3
2 .0
3.7
.4
-.1
2. 8
-1 .9
-2 . 5
5
6
7
8
O F F I C I A L FGN. CURRENCY HLOGS
TREASURY
FEDERAL RESERVE
.3
*
.3
.5
.3
.2
1.0
.3
.7
1 .2
.7
.5
-.7
-.7
-.1
1.9
•8
i.i
2 .3
-.8
3.1
.3
.3
*
-1 .0
-.1
- .9
1. 8
-.2
2.0
-4 . 1
-2 .6
-1 .5
-3 .3
-.1
-3.2
6
7
8
9
10
I 1
12
NET IMF POS ITION
CAP ITAL SUBSCRIPTION
LESS— IMF NOTES
IMF DEPOSITS AT F . R .
.1
.3
.2
*
-.5
-.3
.2
♦
.1
-.7
-.8
*
.9
-.2
-1 .1
♦
1 .0
*
- 1 .0
*
-.i
1 .4
_.9
1. 0
1 .0
2.1
2.1
-1 .4
*
.1
-3 .9
-4 .0
-
. 9
-.i
*
*
*
. 8 9
1 .0 10
11
.2 12
.7
.5
.2
.4
.2
.2
.3
*
.2
.2
.1
♦
.3
.3
.1
.2
.1
.1
.2
-.4
.6
.5
.3
.3
1.7 13
1. 8 1 4
- . 1 15
4.5
III.
-
*
TREASURY CURRENCY AND SDR C E R T IF I C A T E S
13 TOTAL U . S . G O V T . L I A B I L I T Y
14 MONETARY AUTHORITIES ASSET
15 UNALLOCATED ASSET
.2
.2
.1
.9
.7
.2
.
1
.2
*
INSURANCE ANO PENSION FUND RESERVES
LIFE
INSURANCE RESERVES—
I
2
3
NET CHANGE IN L I A B I L I T I E S
U . S . GOVERNMENT
L I F E INSURANCE COMPANIES
4.8
.1
4 .7
4.6
.1
4.5
4 .8
.1
4.7
4 .5
♦
4.6
4 .5
.1
4.5
4.5
•
4.5
4.5
5 .3
*
5 .3
3 .7
.1
3.7
4.5
.1
4 .5
4 .5
.1
4.4
4 .5
1
4.4
.
I
2
3
4
NET INCREASE (N ASSETS
( HOUSEHOLDS)
4 .8
4.6
4.8
4.5
4.5
4 .5
4 .5
5. 3
3 .7
4. 5
4. 5
4 .5
4
-
PENSION FUND RESERVES—
5
6
7
8
9
10
NET CHANGE IN L I A B I L I T I E S
U . S . GOVERNMENT
INSURANCE SECTOR
L I F E INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S . * L . GOVT. RTR. FUNDS
12.3
1 .3
11.0
2 .1
5.6
3.3
1 3 .4
1.3
1 2. 2
2 .1
6 .1
4 .0
1 5.3
1 .3
1 4. 0
2 .6
6.7
4 .6
1 4 .9
1 .3
1 3 .6
2.9
6 .4
4 .3
15.8
1 .6
14.2
3 .0
6 .2
5 .0
1 5.5
1 .0
1 4.5
3 .0
7.0
4.6
16.1
1.0
15.1
3.0
7 .3
4.7
13.1
1 .7
1 1. 4
3 .4
3 .9
4. 1
16 .2
1.2
14.9
2 .6
7. 0
5 .3
20.0
2 .3
17. 8
3 .0
7.7
7.0
14.0
1.2
12.8
3.1
6.3
3. 5
14. 8 5
1.4
6
13.4
7
3.1
8
5 .7
9
4 .7 10
11
NET INCREASE IN ASSETS
(HOUSEHOLDS)
1 2. 3
1 3 .4
15 .3
1 4.9
15.8
1 5.5
16.1
13.1
1 6. 2
20.0
14. 0
14.8 11
1/70 DATA ARC BASED ON PRELIM!NARY INFORMATION SUBJECT TO REVI SI ON.
(1)
Ixcludea initial allocation of SDR'a In January 1970 of $867 million.
(2)
Treasury gold atock.
Transactions in SDR's are in line 2.
Mo nay Supply Relationship (page 12)
U ll
I
iiM
1
2
3
4
5
6
7
II
1
5
6
7
8
9
10
11
Ill
4
5-9
Lina 12 of top section of page 12.
Dally avaragea in this table are Increments in month averages from last month
of preceding quarter to last month of this quarter.
1-2.
5+6+7.
See Fart II, line 5.
Part II, line 6 + Part III, line 4.
Part II, line 7 + Fart III, line 5. "Seasonal" here means dollar excess of
seasonally adjusted flow over unadjusted flow.
Lines 2 + 8 + 9 of top section of page 12 at quarterly rate.
Differences between money-supply concept of demand deposits derived from last
preceding all-bank total (either last Wednesday of quarter or Call Report)
and figure for that one day, e.g., March 25, 1970, derived from data going
Into dally averate statistics. Quarterly increments in this difference.
Difference between figure for period derived from daily-average data and
average for last month of quarter. Quarterly increments in difference.
8 + 9+10-11.
Difference in adjustment method: seasonal in dally average series (month
average) adjusted as flows less seasonal In published daily-average series.
Seasonal in F/F demand deposit (based on net change from last day of one
quarter to last day of next) less seasonal in dally average adjusted as flows.
Adjustswnt to aeasonal needed as part of the balancing of all seasonally
adjusted sources and uses of funds in the flow-of-funds matrix.
Adjustment to allow for effects of intra-weekly seasonal influences on last day
of quarter.
Mo statistical difference between the two series. In unadjusted data, only
difference is between one-day figure for end of quarter and three week average.
Correspond to lines 7-11 in Part II.
12 MAY 1970
MONEY AND DEPOSITS SUMMARY
MONEY AND DEPOSITS SUMMARY
12
MONEY SUPPLY AND TIME AND SAVINGS ACCOUNTS
(BILLIONS OF DOLLARS)
SEAS ADJ
ANNUAL RATES
12
SEAS ADJ ANNUAL RATES
------
1965
YEAR TO! ALS
1966
1967
1968
i1
1969
1968
1 III
1969
1
IV
1
II
I
1
III
IV
1
1970
I
DEMAND DEPOS►
I T S AND CURRENCY
1 NET INCR. IN BANKING S Y S . LIAB
MONETARY AUTHORITIES
2
U . S. GOVT. CASH ♦ DEP.
3
4
FOREIGN DEPOSITS
5
CURRENCY
6
7
8
9
10
11
12
13
I*
15
16
17
18
19
CCMMERCIAL BANKS
U . S . GOVT. DEP.
FOREIGN DEP.
OTHER
NET INCR. IN ASSETS
U . S . GOVT DEPOSITS
MONEY SUPPLY
DOMESTIC SECTORS
HOUSEHOLDS
NONFINANCIAL BUSINESS
STATE AND LOCAL GOVTS.
FINANCIAL SECTORS
MAIL FLOAT
REST OF THE WORLD
7 .6
2.0
*
-.1
2 .1
2 .6
2.3
.2
.2
2 .0
14.3
3 .0
.9
*
2.1
10.7
1 .4
-1 .1
5.6
-1 .0
.4
6.2
.3
-.5
-1 .2
2. 0
7 .6
-1 .0
8.6
8.3
7 .2
-1 .4
-.2
.3
2 .5
.3
2.6
-.4
3 .0
3.9
3 .1
.7
-.1
-.1
.3
-1 .0
39.2
.8
-.3
.1
1.0
7 .2
1 .9
2.4
6.6
3 .3
.6
-.1
2. 8
1 1. 3
.2
.6
1 0.5
9 .3
-.2
-.3
9 .8
3 .3
-.1
.3
3 .1
38.3
26.6
-.8
12 .5
5.3
-9 .6
-.2
15.2
14.3
1.1
13.2
1 2 .6
1 1. 4
-2 .1
-.4
10 .7
-1 .3
12.0
12 .2
6.9
1 .3
l.l
1.0
1 .9
-.2
6.6
.5
6 .1
5 .9
3 .4
3 9 .2
26.3
12.9
13.5
15.6
-1 .2
-1 .9
2.6
-1 .5
-.7
7.2
-9 .7
16 .9
17.1
13.5
-4 .3
4.1
1.3
2 .4
-.2
.1
1.1
2 .7
.6
.5
2 .2
.4
-.6
.2
*
.1
1.9
-1 0 .1
1.1
-.1
-.2
1.4
7. 3
3.1
-.1
-1 1 .3
-6 .2
.4
1.9
-1 .3
-.6
.2
-2 .0
2
-1 .3
3
4
I
-.1
.2
2.3
4.3
-.9
5
4.2
.8
1.4
1 7. 6
1.8
1.3
6
. 1
1.9
1.9
-.1
2 .0
8
15. 8
-1.5
9
7 .3
2.1
3.2
1.6
24.?
1. 6
.9
19.9
- 1.8
I. 0
- . 3
*
7
. 8
-1 .4
5 .1
5. 1
5.6
.6
3.8
-.3
6.5
2.4
3.2
2.3
-1 0 .1
-6 .3
-3 .9
-4 .1
-7 .9
24.2
. 1
-.1
♦
-5 .5
3.2
2. 4
4. 3
- 1 . 5
20. 1
17.3
-1 .7
-l.l
4. 6
.8
-1 .3
. 7
- . 3
*
10
-.2
4
12
13
14
15
7. 0
-4 .3
-3 .4
9
3. 9
1.0
.0
-1
- . 2
11
16
1 7
- . 7
18
2. ?
39
17. 3
12.0
2
-1 .2
2 . S
4. 0
3
4
5
TIME DEPOSITS AND SAVINGS ACCOUNTS
I
2
3
4
5
6
7
8
9
10
11
12
13
NET INCREASE AT
TOTAL
COMME RCIA L BANKS C O R P O R A T E BUSINESS
STATE AND LOCAL
FOREIGN
HOUSEHOLDS
TOTAL
GOVTS.
AT SAVINGS I N S TI TU T IO N S
LIA B ILITIE S SAVINGS ♦ LOAN ASSNS.
MUTUAL SVGS. BANKS
CREDIT UNIONS
ASSETSHOUSEHOLDS
CREDIT UNION DEPOSITS
AT SVGS. AND LOAN ASSNS
MEMO - HOUSEHOLDS TOTAL
TIME ♦ SVGS. ACCOUNTS
33.1
2 0 .0
3.9
2.4
.6
13.3
2 0.2
1 3. 3
-.7
1 .3
. 8
11.9
40.8
23. 8
4 .1
2.4
1 .4
1 5. 8
3 3 .0
2 0 .6
2 .2
3 .2
13.1
7 .0
8 .5
3.6
1.0
13.1
*
2 6.4
4 3 .8
32 .3
9.5
15.1
-3 .0
-1 1.0
-7 .8
-7 .5
1.2
3 .3
17 .0
12.4
3.6
2 .6
.8
1 0. 7
5 .1
1.2
7. 3
4.1
1.0
16.5
39.9
27. 5
4.1
5 .7
-.1
17.8
6 .5
-6 . 8
-7 .2
-5 .4
-.4
6.6
8. 0
1 1.5
12 .4
1.1
4.0
2.6
1.4
7.2
3 .4
.9
•
5.2
- 7 . 6
15.7
21.5
10.8
-4 .0
-1 .4
5 .4
1 0.4
.7
-.8
6. 9
6
13 .4
8 .5
5. 8
4.2
5. 3
7
6 .8
4.5
1.2
8 .0
3 .8
1 .6
4.6
3. 0
2. 7
1.2
1.5
1.3
.5
2.4
1.4
1.6
3 .9
4 .3 11
7.2
1 6. 7
12.6
8 .0
11.8
13.3
13.0
-.2
.3
-.2
*
-.3
-1 .0
.3
19.1
32 .5
27.7
2 8 .4
31.1
1 9.6
11.3
.6
-7 .9
-3 .6
- 7 .8
-5 .6
- 1 0. 0
6.0
2.0
9. 1
5 .9
-.6
-.1
.3
14. 5
5.1
5 .9
?. 1
1 .5
1
8
9
10
. 9 12
11.2
13
RELATION OF F/F MONEY SUPPLY DATA TO DAILY AVERAGE SERIES
(B IL L IO N S OF DOLLARS)
______________________
1965
(Notes to this Table are o n jpage 1 1 ) __ _____
YEAR TOTALS
1966
1967
1968
I.
1969
I
I960
| III
IV
I
I
_ _
_
1969
I
II
III
IV
_
I 1970
I
I
TOTAL MONEY SUPPLY
NET CHANGES AT SAAR—
F/F DEMAND DEPOSITS ♦ CURR.
DAILY AVERAGE (DAMS)
TOTAL DIFFERENCE
3 4 .5
3 0 .0
4.5
3.0
3 .6
-.6
13.2
1 1.0
2 .2
1 2. 0
1 1.8
.2
5 .7
4.8
.9
1 2 .9
8 .7
4.2
1 6. 9
14.5
2.4
-3 .9
7 .8
-1 1 .7
5 .1
8 .9
-3 .8
1.6
*
1 .6
19 .9
2.5
17.4
-.2
7.7
-7 .9
I
2
3
4 TOTAL D I F F . AT QUARTERLY RATE
5
ARISING FROM— DATA D I F F .
6
TIMING
7
SEASONALS
1.1
*
2 .0
-.9
-.6
.1
-.9
.2
2.2
-.1
2 .1
.3
.2
-3 .5
3.4
.3
.9
-1 .0
2 .1
-.2
1 .0
.8
-2 .4
2.7
.6
-4 .5
8 .0
-2 .9
-2 .9
-.6
-5 .5
3 .2
-.9
♦
1 .2
-2 .2
. 4
-.1
-.8
1.3
4 .4
-.4
7.2
-2 .5
-2 .0
-.4
-5 . 5
3.9
4
5
6
7
1
2
3
II.
DEMANO OEPOS ITS
NET CHANGE, S . A . QTRLY RATE—
F/F (SEE PART I V . BELOW)
I
OAMS
2
3
DIFFERENCE
6.5
5 .4
1.1
1. 0
1 .6
-.6
11.1
8. 8
2.3
9 .6
8 .7
.9
2.9
2 .3
.6
3 .0
1.5
1 .5
3.7
2. 9
.8
-1 .3
1.2
-2 .5
.5
1 .6
-1 .1
-.2
-.5
.3
3 .9
♦
3 .9
.2
l.l
-.9
I
2
3
4 DIFFERENCE IN UNADJUSTED
5
DATA DIFFERENCE
6
TIMING
2.0
*
2 .0
-. 8
.1
-.9
2 .0
-.1
2 .1
.6
-3 .5
4 .0
.9
-1 .0
1 .9
-.7
.8
-1 .4
3.6
-4 .5
8.1
-6 .6
-.6
-6 .0
1 .2
♦
1 .2
-.2
-.1
-.2
6 .6
- .4
6 .9
-5 .8
-.4
-5 .4
4
5
6
-.9
-.9
*
-
.2
.2
-
.3
.3
*
-
.3
.3
•
•
-
-.3
.1
-.5
.1
-
2 .2
-.4
.9
2. 1
-.3
-2 . 8
.7
-1 .9
-1 .6
-.1
4 .1
*
3.4
.6
.2
-2 .3
-.5
-1 . 1
-.7
*
.5
-.4
-.4
1 .5
-.2
-2 .6
.9
-2 .3
-1 .3
*
2.8
2 .5
.3
.3
.7
-.5
.5
.7
-.2
•4
.8
-.4
. 8
.6
.2
.6
.5
.1
l.l
.7
.4
-.2
.8
-1 .0
1
2
3
7 DIFFERENCE IN SEASONALS
8
FLOWS VS . LEVELS
9
ONE-DAY V S . DAILY AVG.
10
SEASONAL BALANCE ADJUSTMENT
11
PLUS: DAY-OF-WEEK ALLOW.
III.
NET CHANGE, S . A . QTRLY RATE—
F/F
1
2
DAMS
3
DIFFERENCE
2.1
2 .1
*
2.0
2 .0
♦
7
4.8
-. 1 8
9
4 .2
. 7 10
* 11
CURRENCY
2 .1
2 .1
*
2 .4
3 .0
-.6
4
TIMING DIFFERENCE
*
-.1
♦
-.7
.2
-1 .0
-.1
.5
.1
-.6
.3
-.2
4
5
6
7
8
9
D I F F . IN SEASONALS
FLOWS VS. LEVELS
ONE-DAY VS. DAILY AVG.
SEASONAL BALANCE AD J.
LESS— DAY-OF-WEEK ALLOW.
•
♦
—
♦
-
*
*
*
-
-
.1
.1
-
.1
.1
-
-
♦
-
♦
-
.5
.1
.1
♦
-.3
-.1
.2
-.3
*
-.1
-.9
-.2
-.5
*
.2
.1
*
.1
-.1
*
.7
.1
.3
.1
-.2
.2
.2
*
*
*
-. 9
-.3
-.5
*
*
5
6
7
8
9
http://fraser.stlouisfed.org/
1/70 Data are Based on Preliminary
Federal Reserve Bank of St. Louis
-
Information Subject to Revision.
12 HAY 1970
U . S . GOVT. SECU RITIE S
U.S.
GOVT.
SECURITIES
U .S . GOVERNMENT SEC U R ITIE S MARKET SUMMARY
(B ILLIO N S OF DOLLARS)
SEAS ADJ ANNUAL RATES
SEAS ADJ ANNUAL RATES
YEAR TOTALS
1966
1967
1968
I
1968
I III
I 1970
I
I
1969
II
III
1 TOTAL NET ISSUES
2
INCLUOED IN PUBLIC DEBT
3
HOUSEHOLD SAVINGS BONOS
4
DIRECT EXC. SAVINGS BONDS
3.8
1 .3
.6
.7
8.7
2 .3
.6
1.8
12 .6
8.9
.9
8.0
16 .7
10.3
.5
9 .8
5.5
-1 .3
-.4
-.9
31 .2
2 4 .5
.8
2 3 .7
-3 .2
-7 .4
.7
-8 .1
.1
-5 .7
-.5
-5 .2
-5 .7
-1 2 .5
-.4
-1 2 .1
14.7
9 .4
-.7
10. 1
13.1
3.9
.1
3.8
17.3
4. 7
-l.l
5. 8
I
2
3
4
5
6
7
8
OTHER
BUDGET AGENCY ISSUES
LOAN PAR TIC IPA TI ON S ( I )
SPONSORED AGENCY ISSUES! 2 )
2 .5
*
.4
2.1
6 .3
*
1 .3
5.1
3.6
.2
4 .0
-.6
6 .3
1.4
1.7
3.2
6 .8
-.4
-1 .9
9. 1
6.8
1 .4
3 .5
1.8
A .2
2.7
-.6
2.1
5 .7
.8
-.3
5.2
6 .8
-1 .3
.6
7 .5
5.3
-.8
-4 .8
10.9
9.2
-.2
-3 .2
12.6
12. 6
.6
-3 . 0
1 5.0
5
6
7
8
9 NET A C Q U IS IT IO N S , BY SECTOR
10
U.S.GOVERNMENT (AGENCY S E C . )
11
SPONSORED CREDIT AGENCIES
12
DIRECT MARKETABLE
13
FHLB SPECIAL ISSUE
14
FEDERAL RESERVE SYSTEM
3 .8
*
.1
-.2
.3
3 .7
8 .7
1 .3
1 .0
.3
.6
3.5
1 2 .6
-.1
*
.9
-.9
4.8
16.7
.1
-.1
-.1
3.8
5 .5
-1 .3
-.4
-.7
.3
4 .2
31 .2
-.1
-.4
.1
-.5
7 .4
-3 .2
-1 .0
-.5
-.2
-.3
-2 .8
.1
-l.l
-2 .1
-2 .1
♦
3 .2
-5 .7
-2 .2
-.1
-.1
*
5.0
14. 7
-.8
-.3
-.6
.3
-.4
13.1
-1 .0
.3
-.6
.8
9.1
17.3
♦
4 .3
5.0
-.8
.4
9
10
11
12
13
14
15
16
17
FOREIGN
SHORT-TERM MARKETABLE
OTHER
-.2
-.4
.3
-2 .4
-.8
-1 .6
2. 1
1.6
.5
-.5
-2 .4
1 .9
-1 .1
-1 .8
.7
.6
-1 .5
2.1
4.2
1. 9
2 .3
-6 .2
-6 .2
♦
-I. 1
.3
-1 .4
3 .6
3. 7
1
-.5
-4 .9
4. 4
1. 5 15
5 .4 16
- 3 . 9 17
18
19
20
21
PV T. DOMESTIC NONFIN.
SAVINGS BONDS - HOUSEHOLDS
DIRECT EXC. SVGS. BONDS
AGENCY ISSUES
2.5
.6
.7
1. 2
8.5
.6
3 .3
4.7
-2 .8
.9
-3 .8
.2
8 .9
.5
4.6
3.8
15.8
-.4
8.1
8 .1
6.9
.8
3.1
3.1
9.6
.7
5.8
3.1
24 .7
-.5
18.3
6.9
-. 9
-.4
-7 .0
6 .5
26 .3
-.7
19.3
7 .7
13.4
.1
2.0
11.3
1.4
-l.l
-7,2
9. 7
18
19
20
21
2.2
.6
1.3
.2
7.3
.6
2.6
4.2
.6
.9
-1 .3
1.1
7.1
.5
4.4
2 .2
13.1
-.4
8 .1
5 .3
2 .6
.8
-1 .2
3.0
11.1
.7
8 .5
2.0
16.1
-.5
1 2 .0
4 .5
2.1
- .4
-2 .3
4. 8
24.1
-. 7
2 1 .0
3.9
10.1
.1
1.9
8.1
10.1
-l.l
5. 1
6 .2
22
23
24
25
-1 .6
-2 .0
.4
-1 .2
-1 .5
.4
-3 .1
-1 .6
-1 .4
1. 8
1 .0
.8
-1 .4
-2 .0
.5
1 .7
1. 0
.7
-1 .3
-2 .3
1.0
6.1
5 .7
.3
-3 .2
-4 .0
. 8
-3 .8
-4 .3
.4
-4 .9
-5 .5
.6
-10. 8 26
- 1 2 . 1 27
I . 3 28
1 .9
1.3
.6
2 .4
2.2
.1
-.3
-.9
•6
.1
-.8
.8
4.2
2 .0
2.2
2.6
3.3
-.7
-.3
-.4
.1
2 .5
.5
2 .0
.2
-.7
.9
5.9
2 .6
3 .4
8.2
5.6
2. 6
2. 1 29
- .2 30
2.2 31
-2 .3
-3 .1
.8
-3 .6
-3 .4
-.2
9.4
6. 3
3 .2
2.8
1. 7
1. 1
-1 1 .2
-9 .4
-1 .8
12 .2
9 .8
2.4
-3 .1
-4 .9
1.7
-1 5 .2
-1 2 .5
-2 .7
-1 0 .7
-1 1 .3
.5
-1 0 .3
-6 .1
-4 .1
-8 .1
-7 .1
-.9
5 .7 32
4 .2 33
1. 5 34
-.1
-.6
.5
.4
-.2
.5
-.9
-1 .3
.3
1 .6
,3
1 .3
-.5
—2 .3
1.8
4 .5
3 .1
1 .4
-9 .7
-1 0 .0
.3
-3 .1
-5 .9
2.8
4 .4
2.3
2. 0
-3 .3
-5 .9
2.6
-.1
.1
-.2
4. 1 35
2.7 36
1 .4 37
.5
.4
.1
.4
.4
.1
1 .6
1.5
.2
.6
.3
.3
.4
-.8
1.3
-.2
-.6
.4
-3 .9
-3 .7
-.2
1 .9
.6
1 .3
.4
-1 .0
I**
-.1
-2 .2
2. 1
-.4
-.7
.3
1 . 9 38
. 8 39
1.1 40
- . 6 41
— 1.0 42
.5 43
22
23
24
25
HOUSEHDLDS
SAVINGS BONDS
DIRECT EXC. SVGS.
AGENCY ISSUES
26
27
28
CORPORATE NONFIN. BUSINESS
DIRECT
AGENCY ISSUES
29
30
31
S TA TE + LOCAL GOVTS.
DIRECT
AGENCY ISSUES
BONDS
32
33
34
COMMERCIAL BANKS
DIRECT
AGENCY ISSUES
35
36
37
PRIVATE NONBANK FINANCE
DIRECT
AGENCY ISSUES
38
39
40
SVGS.+ LOAN ASSNS.
OIRECT
AGENCY ISSUES
41
42
43
MUTUAL SAVINGS BANKS
DIRECT
AGENCY ISSUES
-.3
*.3
*
-.5
—.7
.2
-.3
-.3
•2
-.3
6
.3
-.5
-.6
.1
-.8
-1 .0
.2
-1 .1
-.6
-.4
.3
-.5
.8
-.5
-.9
.4
-1 .0
-.9
-.1
-.8
-.1
-.7
44
45
46
L I F E INSURANCE
DIRECT
AGENCY ISSUES
-.4
* .5
*
-.3
-.3
*
-.3
-.2
*
-.2
-.2
* "•
. .*
-.5
—*5
♦
-.1
*
-.5
-.5
*
-.9
-.9
.1
-.3
-.3
.1
-.7
-.5
-.2
-.3
-.2
♦
-.3
-.3
'*
44
45
46
47
48
49
NONLIFE INSURANCE
DIRECT
AGENCY ISSUES
*
— ,2
.2
-.4
-.5
.1
-.7
-.7
*
-.3
-.4
.1
-.5
-.5
*
-.5
-.6
.2
-.6
-.7
.1
-.4
-.2
-.2
1. 0
1 .0
*
-2 .1
-2 .2
.1
-.3
•6
.3
-.2
-.1
-.1
47
48
49
50
51
52
PRIVATE PENSION FINOS
DIRECT
AGENCY ISSUES
*
*
*
-.5
-.3
* .
-.6
-*.4
-.2
.5
.4
.1
.3
*
.2
.1
*
.1
.7
.4
.3
.5
♦
.5
1.9
1 .6
.3
-1 .5
-1 .4
-.1
.2 50
. 3 51
* 52
33
54
55
S . * L.G O VT .R TR .F UN DS
OIRECT
AGENCY TSSUES
.4
.2
.2
.2
.1
.1
*
* .2
.2
*
-.4
.4
-.1
— •3
.2
-.4
-.9
.4
.3
-.3
.5
-1 .0
-1 .3
.3
-.4
-.4
.1
.4
♦
.4
.5
.5
.1
. 4 53
. 4 54
* 55
*
-.3
-.1
*
.6
.7
.1
*
-.3
8
•6
♦
.2
.8
.1
*
-.5
♦
.8
*
1.4
4.7
.2
*
-1 .0
-3 .6
*
*
-.7
-3 .3
.3
.1
*
3.0
1.1
*
.2
-2 .7
. 8
*
-1 .3
2.9
1.2
*
5.7
1 3. 3
4.0
2 3. 7
-3 .2
6.3
-7 .2
12 .7
5. 2
56
57
58
59
60
INVESTMENT COS.
(O IRE C T)
SE C.9 RKR S.+ DLRS. (
«
1
AG. OF FGN.BANKS (
”
I
B K S .I N T E R R .+ PO S S. ( " I
MEMO: HELD BY P VT . DOMESTIC
.1
5 .3
(NONFINANCIAL, BANKS, ANO P VT . NONBANK FINANCE)
I l lH H E R E NOT SHOW SEPARATELY,
AGENCY ISSUES
LOAN PAR TIC IP AT ION S ARE INCLUDED WITH
( 2 ) THESE ISSUES ARE OUTSIDE THE BUDGET AND OUTSIOE THE U . S . GOVERNMENT
SECTOR IN FLOW-OF-FUNDS ACCOUNTS.
THEY ARE INCLUDED IN CREDIT MARKET
DEBT OF FINANCIAL I N S T I T U T I O N S .
1 /70 DATA ARE BASED ON PRELIMINARY INFORMATION SUBJECT TO R EV ISIO N ,
.1
* ■
.1
-.9
2 .5
1.1
*
56
57
58
59
11.2 60
12 MAY 1970
PRIVATE S EC U R IT IE S
AND MORTGAGES
PRIVATE SE CURITIES AND MORTGAGES
14
PRIVATE SEC U R ITIES AND MORTGAGES
(B ILLIO N S CF DOLLARS)
SEAS ADJ ANNUAL RATES
14
SEAS AOJ ANNUAL RATES
1965
YEAR TOTALS
1966
1967
1968
1969
I
1968
1 III
IV
|
1
1969
I
II
IV
I”
| 1970
1
I
STATE AND LOCAL GOVERNMENT SEC URI TIE S
1
NET CHANGE IN L I A B I L I T I E S OF
STATE AND LOCAL GOVERNMENTS
2
3
4
NET CHANGE IN ASSETS
S .+ L . GOVT ., GBI.FUNDS
S .+ L . G OV T ., RTR. FUNDS
OTHER
HOUSEHOLDS
CORPORATE BUSINESS
COMMERCIAL BANKS
MUTUAL SAVINGS BANKS
LI FE INSURANCE COS.
OTHER INSURANCE COS.
FINANCE N . E . C .
5
6
7
8
9
10
11
12
5 .7
7.7
9.9
8 .5
12.5
1 3.8
10.2
9 .8
6.7
7.1
8. 8
I
7 .3
-.1
-.3
5 .7
*
-.1
7.7
*
-.1
9.9
♦
-.1
8 .5
.1
-.1
12.5
♦
♦
13.8
.1
-.2
10 .2
♦
-.1
9 .8
.1
-.2
6 .7
.1
-.1
7.1
■
*
-.1
8 .8
. 1
-.!
2
3
4
7 .6
2.3
.5
5.1
-.1
-.3
.4
-.2
5 .9
2. 1
1 .0
1.9
-.1
-.4
1 .3
*
7 .8
-2 .1
-.4
9.0
*
-.1
1 .4
.1
1 0 .0
-.2
.4
8.7
*
♦
1 .0
♦
8 .5
3.8
2 .3
1. 4
♦
.2
1.0
-.1
1 2. 6
2.6
-2 .6
12.3
♦
-.7
1.0
*
1 3. 9
-2 .9
1.3
14.7
♦
.2
1. 0
-.5
10.3
5 .0
2 .4
2.6
♦
.2
.9
- . 8
9.9
1.7
2 .7
4.9
*
.1
.5
*
6. 8
3 .3
.2
1 .0
•
.5
1 .7
.1
7.2
5.0
3. 7
-2 .7
*
.2
.8
.1
7 .3
.
8.9
5
.8
6
1. 9 7
4. 6 8
.1 9
- . 7 10
1.4 11
.8 12
CORPORATE AND FOREIGN BONDS
1
2
3
4
5
NET ISSUES
CORPORATE BUSINESS
FINANCE COMPANIES
COMMERCIAL BANKS
REST OF THE WORLD
8 .6
5.4
1. 9
.8
. 5
1 1. 8
10.2
.8
.1
.7
17 .2
1 4 .7
1 .0
.3
1 .2
15.1
12.9
.8
.3
1.1
14.9
12.1
1.6
.1
1.2
14.2
12.1
.7
.3
1. 0
17.4
14.6
.9
•*
1.9
1 7.4
14.6
1 .4
.2
1.3
15 .7
1 2.5
2.2
.3
.7
14.2
10.5
1 .4
2. 4
12 .4
1 0.7
1.3
*•
'
.4
16.8
13.1
2. 6
♦
1.0
6
7
8
9
10
NET PURCHASES
HOUSEWLDS
STATE AND LOCAL GOVERNMENTS
CCMMERCI AL BANKS
MUTUAL SAVINGS BANKS
8 .6
.7
.7
-.1
-.1
11.8
2 .0
1.1
.1
.3
17.2
4. 0
1. 5
.8
2.1
15.1
4.6
.4
.3
1 .4
14.9
4 .9
2 .8
-.4
.3
14 .2
-.8
.3
.2
1. 2
, 1 7 .4
6.9
.9
.4
1.6
17 .4
4 .8
3 .8
.8
1 5 .7
5. 3
3 .6
-1 .6
•8
1 4 .2
4. 7
-1 .2
- ■■
-.3
12.4
4.7
5 .0
*
-.2
16. 8 6
7
3.0
3.2
8
9
.7 10
11
12
13
14
15
INSURANCE
L I F E INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S.+ L . G O V T . R T R . FUNDS
OTHER INSURANCE COMPANIES
7.1
2 .8
1.5
2 .1
.6
7.3
2.4
1.9
2.5
.6
8 .9
3.8
.9
3 .4
.7
8.0
3. 8
.7
2.4
1. 2
6 .4
1.9
.5
3.0
l.l
8.2
3.0
.7
3 .2
1. 2
7 .7
3.8
.3
2 .3
1.2
6.0
2 .9
-.8
3.6
.2
7 .3
2 .7
.7
3 .9
•
1 0.0
2. 1
1 .3
3.4
3.1
2 .4
-.3
.6
l.l
1. 0
5 .8
2.0
. 7
1.9
1.3
16
17
FINANCE N . E . C .
REST OF THE WORLD
.5
-.1
.4
.6
.1
-.1
*
.3
.5
.5
4 .8
.3
, -.7
.7
1.1
.9
.1
.2
1.1
*
-.4
.8
3 . 9 16
.3 17
-
I
?
3
4
5
11
12
13
14
15
CORPORATE STOCKS
I
2
3
4
5
6
NET ISSUES
OPEN-END INVESTMENT COS.
OTHER SECTORS
CORPORATE BUSINESS
COMMERCIAL BANKS
REST OF THE WORLD
7
8
9
10
11
12
13
14
NET PURCHASES
HOUSEHOLDS
MUTUAL SAVINGS BANKS
INSURANCE SECTOR
L I F E INSURANCE COMPANIES
PRIVATE PENSION FUNDS
OTHER INSURANCE COMPANIES
S . + L . GOVT. RTR. FUNDS
15
16
17
18
FINANCE N . E . C .
OPEN-END INVESTMENT COS.
BROKERS AND DEALERS
REST OF THE WORLD
3 .4
3 .1
.3
♦
-.1
.3
4.6
3.7
.9
1.2
♦
-.3
4 .8
2.5
2 .3
2.3
•
*
4 .0
4.7
-.7
8
-.i
.2
10.0
5 .6
4 .5
4 .3
*
.2
2.9
4 .8
-1 .9
-1 .9
-.1
.1
2.8
5.0
-2 .1
-2 .2
-.1
.2
7.7
7.5
.1
.1
-.1
.1
7.9
4.6
3.2
2.4
•
.8
1 1. 3
6.0
5 .3
5 .6
*
- .4
13.3
4.1
9.2
9.1
-.1
.1
10.4
2.8
7. 6
7 .1
.1
.4
1
2
3
4
5
6
3 .4
-1 .9
.2
4.3
.7
3.1
.1
.4
4.6
-1 .0
*
4.8
.3
3 .7
.4
.5
4.8
-4 .9
.2
7.3
1.1
5 .0
.6
.7
4 .0
-7 .7
.3
8 .5
1.4
4 .7
1 .1
1.3
10 .0
-4 .3
.3
9.7
1 .6
5 .4
1. 0
1.8
2 .9
-1 3 .6
.3
8 .9
1. 3
5 .0
1. 3
1.3
2 .8
-1 2 .8
.3
1 0. 5
1.7
5 .7
1 .5
1.7
7 .7
-5 .5
.3
10 . 0
1.9
5 .8
1.1
1.2
7 .9
-5 .3
.3
9.7
1 .8
4.8
1 .2
2 .0
11.3
-2 .4
.3
7.8
l.l
4 .5
.3
1 .9
13.3
-4 .0
.3
11.5
1 .7
6 .4
1 .3
2.1
10.4
-l.l
.3
8.6
1.0
5.0
.6
2.0
7
8
9
10
11
12
13
14
1.2
1 .2
.1
-.4
1.0
1 .0
*
-.3
1 .5
1 .5
•
.7
1.0
1. 5
-.5
2.0
2.8
2 .5
.3
1. 5
5 .5
1. 0
4.5
1.8
1.8
3.4
-1 .6
3.0
-.1
-.7
.6
3 .0
2 .7
3 .1
-.4
.5
4 .9
3 .3
1.7
.7
3.6
4.3
-.7
1. 9
3.1
.6
2 .5
-.4
15
16
17
18
TOTAL MORTGAGES
I TOTAL MORTGAGE CREDIT
BORROW EO B Y SAVINGS «LOAN ASSNS.
U . S . GOVERNMENT
2
3
4
5
6
7
8
9
10
PRIVATE NONFIN. SECTORS
HOUSEHOLDS
NONPROFIT IN S T .
BUSINESS
FARMS
NONFARM NONCORPORATE
CORPORATE
11 FUNDS ADVANCED B Y HOUSEHOLDS
12
S T . - H O C . GOVTS., GEN FDS.
13
14
U . S . GOVERNMENT
15
FNMA AND LAND BANKS
16
PVT. FINANCIAL I N S T .
17
COMMERCIAL BANKS
18
SAVINGS IN S T I T U T IO N S
19
SVG. ♦ LOAN ASSNS.
20
MUT. SAVINGS BANKS
CREDIT UNIONS
21
22
23
24
25
26
27
INSURANCE
L I F E COMPANIES
PVT. PENSION FUNDS
S T .+ L O C . GOVT. R E T .F D S .
OTHER INSURANCE
FINANCE N . E . C
2 5 .6
21 .3
23.0
2 7. 4
27 .3
26 .5
3 1. 3
2 9 .3
2 8 .9
2 6 .4
2 4 .6
22.2
1
*
•
-.9
-.1
1 .0
-.1
.2
-.1
#
-.1
-.1
-.1
.6
-.1
.7
-.1
.3
-.1
-.4
-.1
-.7
-.1
-1 .2
-.1
2
3
25 .6
15.2
1.2
9.2
2 .2
3 .2
3.9
2 2 .3
12.3
1.3
8.7
2.1
2.4
4 .2
2 2.0
1 0. 5
1 .2
1 0.4
2 .1
3.7
4.5
2 7 .3
1 4 .9
l.l
11 .3
2 .1
3.4
5 .8
2 7. 4
16.2
1.1
10.1
2 .0
3.7
4 .3
26.6
14.2
l.l
11.2
1. 9
3.5
5.9
30.8
15.6
1 .1
14.1
1 .8
4.7
7« 6
2 8 .6
1 5 .7
1.1
11.8
2 .2
4.1
5 .6
2 8 .6
1 7 .3
1. 1
1 0 .3
2 .3
3 .9
4.2
26 .8
1 6 .6
1.1
9 .2
2.0
3.7
3 .5
2 5 .4
15.4
l.l
9.0
1.6
3.3
4.1
23. 5 4
14.4
5
1 .0
6
7
8.1
8
2.1
2 .8
9
3 .2 10
2 5. 6
-.8
*
-.1
1.1
2 5 .4
5 .6
13.1
9.0
4. 1
• '
2 1 .3
1. 4
4*
•8
2 .6
16.5
4.6
6 .5
3.8
2 .7
.1
23.0
1.0
♦
.9
1.8
19.3
4 .6
1 0.7
7. 5
3.2
*
2 7 .4
1. 6
.2
1 .1
2 .2
22 .3
6 .6
12 .2
9.3
2 .8
•
2 7. 3
1. 3
.2
.7
4.5
2 0. 7
4 .9
12.1
9.6
2.5
*
2 6. 5
2 .5
.2
1 .0
1.6
21 .2
6 .1
12.0
9 .1
2 .8
•
31 .3
.7
.2
.7
1 .5
2 8.2
7 .5
15.2
1 1 .4
3 .8
*
2 9 .3
1 .7
.2
.4
2 .3
24 .6
7.7
1 3.7
1 0. 8
2.9
*
28.9
1.1
.2
.8
3.3
2 3.6
5.9
1 4 .0
1 1.3
2. 7
*
26.4
2 .5
.2
•8
5.3
17.7
3.4
11.0
8 .9
2.1
*
2 4. 6
.2
•8
6.9
16.7
2 .7
9. 8
7 .3
2 .5
•
22.2
4.5
.1
.1
6.1
11.3
2 .9
5.8
4.6
1.2
*
11
12
13
14
15
16
17
18
19
20
21
6 .1
4 .9
•6
.7
♦
•6
5 .9
4.6
.5
.8
•
-.5
3.6
2.9
.1
.5
♦
.5
2 .8
2.5
*
.4
*
.7
2.6
2.1
.1
.4
•
1 .0
2 .7
2 .5
•
.1
3.5
3.0
•
.5
•
2.0
2 .5
2.0
.1
.4
•
.8
2 .6
2.3
-.1
.4
«
1 .0
3 .5
2.4
.2
. 8
•
-.3
1.7
1.5
.1
-.1
•
2 .5
3 .2
2.6
.3
.3
.1
-.6
22
23
24
25
26
27
1/70 DATA ARE BASED ON PRELIMINARY INFORMATION SUBJECT TO R EV ISIO N .
-
.5
-
12 MAY 1970
MORTGAGES, BY T YP f
MO R T G A G E S ,
15
BY TYPE
MORTGAGE MARKETS BY TYPE OF MORTGAGE
(B IL L IO N S OF DOLLARS)
15
S E A S ADJ
SEAS ADJ ANNUAL RATES
1965
YEAR TOTALS
1966
1967
1968
1969
1968
1
| III
IV
1
1
ANN U A L R A T E S
1969
I
II
III
IV
1 1970
1
I
HOME MORTGAGES
1
2
3
4
5
6
NET CHANGE IN L I A B I L I T I E S
HOUSEHOLDS
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
U . S . GOVERNMENT
SAVINGS AND LOAN ASSNS.
1 5. 4
15.2
.1
.1
*
*
1 0. 4
1 2. 3
-.5
-. 5
-.1
-.9
1 2.5
10.5
.6
.6
-.1
1 .0
1 5.3
1 4.9
.1
.1
-.1
.2
15.6
16.2
-.3
-.3
-.1
7
8
9
10
11
12
13
14
15
16
NET CHANGE IN ASSETS
HOUSEHOLDS
S TATE AND LOCAL GOVERNMENTS
U . S . GOVERNMENT
FED. NA T. MTG. ASSN.
COMMERCIAL BANKING
SAVINGS IN S TI TU T IO N S
SAVINGS AND LOAN ASSNS.
MUTUAL SAVINGS BANKS
CREDIT UNIONS
1 5.4
-.1
12 .5
.3
1 5.3
.6
.2
.8
1 .6
3 .5
8 .7
7 .2
1 .4
15.6
-.5
.2
.1
3 .9
2 .6
9.4
8 .0
1 .4
*
1 0.4
.4
♦
.6
1 .9
2 .4
4 .5
2.9
1 .6
.1
17
18
19
INSURANCE
L I F E INSURANCE COMPANIES
PRIVATE PENSION FUNOS
FINANCE N . E . C . (M TG . C O S .)
1 .6
1.1
.6
.6
l.l
.6
.5
-.5
-.3
-.5
.1
.5
20
*
-.1
.5
3 .1
9.8
7 .1
2 .7
*
.7
l.l
2.4
7.9
6 .0
1 .8
*
*
-.8
-.7
•
.7
*
14 .4
14.2
.2
.2
-.1
-.1
17.1
15.6
.5
.5
-.1
.6
1 7 .0
1 5.7
.3
. 3
-.1
.7
1 6.8
17.3
-. 3
-.3
-.1
.3
15. 1
16.6
-. 5
-.5
1 4.4
.9
.2
.7
l.l
3.4
8 .4
6.9
1 .4
17.1
-.4
.2
.3
1.1
3 .9
11.1
8 .9
1 7. 0
15. 1
13.5
- . 2
16 .8
-.4
.2
1.2
.2
- 2 .4
.2
.3
1 .7
4.3
10.7
9. 1
.1
2.5
2.1
*
1.6
-1 .0
-1 .0
*
- .6
*
9
-1 .0
.1
.9
—.
*
-.7
- . 8
♦
.5
2 .0
*
- . 7
. 1
. 7
- . 1
- . 4
13. 5
15.4
-.5
-. 5
-.1
-.7
1
11.7
14.4
- .7
-. 7
-. 1
4
5
-1 .2
6
2
3
7
.2
*
11.7
1.4
. 1
*
4.7
6.6
5. 7
1.7
1.2
7.5
6. 1
3.9
13
9.5
8. 5
7.4
l.l
*
1.3
*
3.2
. 7
14
1.5
*
- . 3
-. 6
17
Ifl
. 3
- . 7
1 9
20
3. 3
1 1. 0
7
*
- . 5
- . 8
-1 .8
- 1 . 9
-. 1
.9
.2
5
2 .A
- .6
.1
fl
9
10
II
1.5 12
15
Ifc
MULTI-FAMILY RESIDENTIAL MORTGAGES
I NET BORROWING
2
CORPORATE BUSINESS
3
NONFARM NONCORP. BUSINESS
3.6
.9
2.8
3. 1
.7
2.4
3.6
.8
2 .8
3 .5
.8
2 .7
4.4
.9
3.6
3 .6
. 8
2 .7
4 .2
.7
3 .5
4 .2
.9
3.3
4. 7
.9
3 .8
4.6
.8
3 .8
4.3
4 NET CHANGE IN ASSETS
5
HOUSEHOLDS
6
U . S . GOVERNMENT
7
FED. NA T. MTG. ASSN.
8
COMMERCIAL BANKS
3 .6
-.9
*
*
.3
3.1
-.5
.3
.1
3.6
-.3
.2
*
.3
3 .5
-.2
.3
*
.3
4.4
.1
.7
*
.5
3.6
.2
.3
*
.3
4 .2
-.3
.4
_
.4
4. 2
.1
4. 6
-. 3
.8
*
.4
4.3
*
.6
4 .7
*
.7
*
.6
.2
3.7
1
.6
2
3.1
3
3. 7
.4
4
. 2
IS
. 1
.3
R
5
7
9
10
11
SAVINGS IN S T I T U T IO N S
MUTUAL SAVINGS BANKS
SAVINGS AND LOAN ASSNS.
2.0
.9
1.1
1 .0
.5
.5
1 .5
.6
.9
1 .6
.5
l.l
1 .6
.5
l.l
1.6
.5
l.l
1.9
.7
1.2
1 .8
. 6
1.2
1 .8
.6
1.2
1.6
.4
1.2
1.1
12
13
L I F E INSURANCE COS.
S . + L . G O V T . PENS.FUNOS
1.6
.7
1 .5
.8
1 .4
.5
1.0
.4
1.2
.4
1.1
.1
1. 3
.5
l.l
.4
l.l
.4
1.3
.8
1.4
1 .4 12
. 3 13
1. 1
.3
.8
9
10
11
COMMERCIAL MORTGAGES
1 NET BORROWING
2
HOUSEHOLDS
3
CORPORATE BUSINESS
4
NON FARM NONCORP. BUSINESS
4.4
1 .2
2 .9
.3
5 .7
1.3
4.0
.4
4.7
1 .2
3 .1
.4
6.6
l.l
4.9
.5
5.2*
l.l
3.7
.4
6.6
1.1
4.9
.5
8. 2
l.l
6.4
.7
5 .9
l.l
4 .4
. 5
5. 1
l.l
3 .6
.4
4.7
I. 1
3 .3
.4
5.2
l.l
3.7
.4
4.7
1 .0
3. 3
.4
1
2
3
4
5 NET CHANGE IN ASSETS
6
HOUSEHOLDS
7
U . S . GOVERNMENT
8
COMMERCIAL BANKS
4 .4
*•6
♦
5 .7
.6
4 .7
.2
6 .6
.2
6.6
.3
8.2
.3
*
*
*
5 .1
.6
_
1.5
4. 7
.6
_
1. 1
5.2
.4
*
1.0
4.7
. 7
*
5
6
7
8
2 .6
2 .5
3.1
10
11
SAVINGS IN S T I T U T IO N S
MUTUAL SAVINGS BANKS
SAVINGS AND LOAN ASSNS.
1 .3
.5
.9
1 .0
.6
.4
1 .3
.7
.6
1 .9
.8
1.0
l.l
.6
.5
1.9
.9
1.0
2 .3
l.l
1.2
1.2
.7
.5
l.l
.6
.5
1 .0
.6
. 4
1.3
.7
.5
12
13
L I F E INSURANCE COMPANIES
OTHER INSURANCE COMPANIES
1.7
*
2 .1
♦
1 .6
*
1.9
*
1 .9
•
2 .0
2 .6
1 .6
1 .7
♦
*
*
1 .8
*
2 .4
*
2 .0
. 1
*
O
1 .6
5 .9
. 8
2 .3
IS)
2 .0
5 .2
.6
*
1.5
-
1. 0
.9
9
.2 10
.6 11
12
13
FARM MORTGAGES
I NET BORROWING BY FARMS
NET CHANGE IN ASSETS—
HOUSEHOLDS
U . S . GOVERNMENT
FEO. LAND BANKS
COMMERCIAL BANKS
MUTUAL SAVINGS BANKS
L I F E INSURANCE COMPANIES
2
3
4
5
6
7
2 .2
2 .1
2 .1
2.1
2 .0
1 .9
1.8
2 .2
2 .3
2. 0
1.6
2.1
1
.9
*
•b
.3
.9
•
.7
.2
*
.4
.8
-.1
.7
.3
.1
.3
1.0
*
.5
.3
*
.2
l.l
*
.6
.4
*
*
1 .2
*
.4
*
*
.2
l.l
l.l
*
.6
.5
♦
*
.9
-.1
.8
.5
*
.1
1 .0
*
.6
.3
*
.1
1.3
*
.3
.3
2. 0
*
.3
1
-.3
-.3
2
3
4
5
6
7
*
.5
1/70 DATA ARE BASEO ON PRELIMINARY INFORMATION SUBJECT TO R EV ISIO N .
.4
.1
♦
.1
.
12
MAY
1970
CONSUMER CREDIT
AND BANK LOANS N . E . C .
CONSUMER CREOIT ANO BANK L O A N S N . E . C .
CO NS UM ER CR EO fT ANO BANK LO A N S NOT ELSEWHERE CL AS SI FI ED
( B ILLIONS OF DOLLARS)
SEAS
ADJ AN N U A L R A T E S
SEAS ADJ A N N U A L R A T E S
1965
YEAR TOTALS
1966
1967
1968
1969
|
1968
I III
IV
I
I
1969
I
II
III
IV
1 1970
1
I
CONSUMER CREOIT
NET C H A N G E IN L I A B I L I T I E S
(HOUSEHOLDS)
INSTALMENT CREDIT
NONINSTALMENT CREDIT
10.0
7.2
4.6
11.1
9 .3
13.2
12.0
9 .9
1 0. 4
8 .8
8.4
7. 0
I
8 .6
1.4
6 .2
I. 0
3 .4
1. 2
9.0
2 .1
8.3
1.0
10.1
3.1
10.2
1 .8
8.3
1 .5
9. 6
.8
7. 7
1. 1
8 .0
.5
5.1
1.8
T
3
4
5
6
7
8
9
10
NET C H A N G E IN A S S E T S
INSTALMENT CREDIT
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
COMMERCIAL BANKING
SAVINGS INSTITUTIONS
FINANCE COMPANIES
10.0
8.6
.1
.9
3.9
1.1
2.6
7 .2
6 .2
. 1
. 9
2.4
1.0
1. 8
4.6
3 .4
.1
.6
1.4
.7
.6
11.1
9.0
.1
.9
4.3
1. 4
2 .4
9 .3
8.3
.1
.7
3 .4
1.5
2.6
13 .2
10.1
.1
l.l
5 .0
1.4
2.4
12.0
10.2
.2
.9
4 .8
2.1
2 .3
9 .9
8 .3
*
.5
3 .5
1.4
2 .9
10.4
9. 6
. 1
.5
3. 8
2.1
3.2
8 .8
7. 7
. 1
1.0
3.0
1.5
2. 1
8 .4
8 .0
.1
.4
3. 1
1.2
3.1
7. 0
5. !
. 1
.5
1. ^
.3
2.3
6
7
8
9
\ n
11
12
13
14
15
NONINSTALMENT CREDIT
N H N r ARM N O N C O R P . B U S I N E S S
CO R P ORATE BUSINESS
COMMERCIAL BANKING
SAVINGS I N S T I T U T I O N S
1.4
.4
.3
.7
.1
1 .0
.4
.3
.3
*
1. 2
.4
.4
.4
.1
2.1
.6
.8
.6
.1
1.0
.5
.6
-.1
*
3 .1
1. 0
1.1
1.0
.1
1. 8
.4
.2
l.l
.1
1.5
.1
1.2
.2
.1
. 8
.4
.4
-. 1
.1
1.1
1.2
.4
- .5
*
.5
.2
.2
*
*
1
2
3
4
1.8 11
.5 1 2
13
I
*
1
BANK LOANS NOT ELSEWHERE CLASSIFIED
TOTAL
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
RANK L O A N S AT C O M M E R C I A L
BANKS, F/F B A S I S
LESS: LOANS IN O T H E R C A T E G O R I E S
MORTGAGFS
CONSUMER CREDIT
SECURITY CREDIT
OTWFR LOANS
r i N A N C E CO. P A P E R
r.TMEK C O M M E R C I A L P A P E R
ACCFPTANCES
HYPOTHECATED DEPOSITS
FCUALS: BANK L O A N S N . E . C .
P LU S: L C A N S BY B A N K A F F I L I A T E S
L O A N S BY F . R . B A N K S
EQ U AL S: TO T A L BANK L O A N S N . E . C
NET C H A N G E IN L I A B I L I T I E S
HOUSEHOLDS
FARM B U SINESS
NONFARM NONCORP. BUSINESS
CORPORATE BUSINESS
SVGS.♦ LOAN ASSNS.
FINANCE COMPANIES
RE S T O F T H E W O R L D
2 6 .4
1 8. 5
1 7.8
2 7 .4
20.1
42 .2
3 5 .0
21 .4
2 9 .6
9 .3
19.9
-3. 1
1
5 .6
4 .6
.1
-.5
.1
-.3
-.4
.1
16 .6
•
16.6
4.6
2 .6
.5
1.6
l.l
.5
•
.1
9.1
*
9. 0
4 .6
1.8
1 .5
2 .4
l.l
.7
. 7
6.6
4.9
1.3
-l.l
-1 .4
.7
-.4
4 .9
3 .3
-1 .2
.5
-. 1
.6
•
12. 5
3. 8
16.4
7.7
3 .7
-5 .9
-.1
-.7
.8
-.2
15 .9
1.4
17.3
5.9
3 .7
2 .2
.5
- .6
1.0
*
17 .3
7.0
_
24.3
3. 4
2. 5
-2 .6
•
.3
.2
-.5
_
6 .0
6 .2
12.2
2. 7
3.1
1.4
I .6
.5
.3
.8
_
11.1
.7
_
1 1. 7
?
3
t*
15.7
15.7
7 .5
5.9
-4 .2
.8
1.2
.8
-1 .2
2 4.9
2 4 .9
2.9
1. «
3. 8
-1 .7
-.5
-. 3
-. 8
7. 5
—
7 .5
6.1
6.0
14.7
-.9
-1 .9
.8
.1
16.2
-.1
16.2
16.6
1 .4
.7
1.0
10 .6
.2
2 .2
9.0
.4
.9
1. 3
7 .9
•1
-1 .*
-.2
7. 5
2. 1
.7
.6
6 .4
-.2
-2 .0
-.2
15.7
3 .0
.4
.7
9.6
.1
2 .3
-.3
16.4
2.0
.8
.8
10.9
.1
2 .0
-.3
16.2
2. 9
.4
.6
9.8
-.1
2.8
-.3
2 4. 9
4.6
-.3
.7
18.2
.5
1.9
-.7
17.3
2.1
.6
.5
1 2. 8
-.4
1 .4
.3
2 4. 3
3.5
.8
.7
1 4. 0
.2
4.6
.5
12.2
1.5
.9
1.2
9.3
.2
. 5
-1.4
11.7
1. 0
.9
1.0
7 .3
.5
1.6
-.5
1.5
.4
-.4
-I. 0
5. 5
-.6
-2. 5
. 1
14
15
16
17
18
19
20
21
-
-
1/70 DATA ARE BASED ON PRELIMINARY INFORMATI ON SUBJECT TO REVI SI ON.
-
b
7
a
9
- 1 0 . 0 10
11.4 11
12
1 . 5 13
12 NAY 1970
BANK CREDIT RELATIONSHIP
B A N K CR ED IT RELATIONSHIP
RELATION OF F/F BANK CREDIT TO L . 4 . 3 SEASONALLY ADJUSTED
( B IL L IO N S OF DOLLARS)
SEAS ADJ ANNUAL RATES
SEAS ADJ ANNUAL RA T E S
YEAR TOTALS
1966
1967
1968
1969
11 6. 4
108.8
7.6
1 6 .8
16.1
.7
37.0
36.0
1.0
39 .2
3 8.1
1.1
10 .0
7 .4
2 .6
6 6 .9
67.2
-.3
1.9
1 .2
.7
*
1.0
.4
1 .1
.3
2 .6
.7
.7
.7
♦
.7
.7
-
.6
.6
*
.8
.8
*
*
-2 .3
-3 .6
1 .3
-3 .6
-3 .5
-.1
9 .4
6 .1
3.3
1965
1
2
3
4
5
TOTAL BANK CREDIT SAAR—
F/F
L .4 .3
DIFFERENCE
DIFFERENCE AT QUARTERLY RATE
D E F IN IT IO N ♦ T IM IN G
6
7
8
9
SEASONAL S
METHOD
BALANCE ADJUSTM ENT
OTHER
10
11
12
U . S . GOVT. S E C U R I TI E S —
F / F , SAQR
L . 4 . 3 , SAQR
TOTAL DIFFERENCE, SAQR
I
1968
1 III
IV
1969
J
1
I
II
47.0
40 .0
7 .0
8. 7
8 .8
-.1
-.1
*
1.8
.3
1 .9
1.8
.2
-.1
-.1
-.8
-1 .6
2.3
2.8
1.8
1 .0
-11.1
-9 .5
-1 .6
3.0
3 .6
-.6
1 1970
1
I
III
IV
2 2 .2
1 4 .4
7.8
*
-2 .0
2.0
9.2
8 .4
.8
7 .2
-1 .2
8 .4
1
2
3
♦
1.5
1.9
-1 .4
. 5
.7
.2
-.1
2. 1
3. 6
4
5
1 .4
3.8
.4
-2 .8
-1 .5
-.2
-.6
-.6
3 .3
3 .2
-.3
.3
-.2
-2 .3
.9
1.2
-.8
-2 .5
1 .7
-3 .8
-4 .1
.3
-2 .7
- 1. 6
-l.l
-2 .6
-. 9
-1 .7
.2
I. 0
.2
-.9
-2 .0
-2 .9
.9
-1 .5
-.6
*
-.9
6
7
8
9
1. 4 10
- 2 . 0 11
3 .4 12
13
D E F IN IT IO N «• T IM IN G
1 .2
-.3
3.1
.8
-1 .3
.2
.8
.5
-1 .4
-1 .0
.6
14
15
16
17
SEASONALS
METHOD
BALANCE ADJUSTMENT
OTHER
.2
.2
♦
—
.1
.1
-
.2
.2
-
.2
.2
*
♦
-.3
-.4
.2
“
-.7
-.2
-1 .0
.3
.9
2 .2
.2
-1 .1
-.2
.3
-.3
-.1
.4
♦
-.2
.2
-.7
-2 .1
.8
.3
.3
I .3
-.2
-.4
. 5 14
.6 1 5
.2 16
- . 2 17
5 .0
6 .1
-1 .1
1 .9
3 .9
-2 .0
9.7
1 2 .7
-3 .0
9 .0
1 0. 2
-1 .2
1 .0
-1 .4
2.4
3. 1
3 .2
-.1
3 .8
4 .5
-.7
.6
.5
.1
.8
- .5
1 .3
.2
-I. 4
1. 6
-.7
-.7
1.2 18
1. 9 19
- . 7 20
18
19
20
OTHER S EC URI TIE S —
F / F , SAQR
L . 4 . 3 , SAQR
TOTAL DIFFERENCE
_
2 .9
13
21
D EF IN IT IO N
-.6
-.2
-3 .0
-1 .0
1.8
-.3
-.7
.6
.2
1.3
-.3
-.5
22
23
24
SEASONALS
METHOD
OTHER
-.5
-.5
—
-1 .7
-1 .7
*
♦
-
-.1
-.1
*
.7
.7
-
.3
.7
-.4
♦
.1
-.1
-.4
-.8
.4
1.1
1.2
-.1
.3
.9
-.5
-.4
-.6
.2
- . 3 22
- . 7 23
.4 24
25
26
27
TOTAL LOANS —
F / F , SAQR
L . 4 . 3 , SAQR
TOTAL DIFFERENCE
2 6 .4
2 4 .9
1.5
1 8 .5
1 5 .6
2 .9
27.4
26 .2
1 .2
20.1
19.3
•8
10.5
10.1
.4
8.7
8.0
.7
5 .3
5 .9
-.6
7 .4
6. 1
1 .3
2.3
2 .4
-.1
5.0
4.9
.1
-.8
-.1
-.7
28
D E F IN IT IO N
29
30
31
32
33
SEASONALS
METHOD - 1
METHOD - 2
BALANCE ADJUSTMENT
OTHER
*
T IM IN G
••6
.9
.9
-.1
*
17 .8
1 7. 2
.6
.5
.3
.6
.2
.2
.2
.4
-.1
.4
-.4
2 .4
1.0
1.4
-
.4
.1
.2
*
.6
2 .0
-1 .3
*
-
.5
.9
-.3
*
-.1
.2
-1 .4
.1
-.6
2 .1
.5
2 .1
-.6
.2
-1 .2
-1 .0
.4
-.1
-.4
-.8
1.4
1 .8
-.2
-.1
-.1
-.4
-1 .7
♦
.1
l.l
.5
.4
♦
.4
-.2
NOTE— SOURCE DATA SHOWN HERE INCLUOE CCC ANO EXPORT-IMPORT
BANK LOAN PAR T i t IP AT IONS IN OTHER INVESTMENTS FOR ALL PERIODS.
PUBLISHED DATA INCLUOE THEM IN LOANS BEFORE 11/66.
1/70 DATA ARE BASED ON PRELIMINARY INFORMATION SUBJECT TO R E V IS I O N .
Relationship to Seasonally Adjusted Bank Credit
"L.4.3" in this table is a short reference to seasonally adjusted bank
credit as published in the Federal Reserve Bulletin on page A23. Both the F/F
and L.4.3 data in this table exclude credit of nonconsolidated bank affiliates.
MSi
7, 15, 23
8, 16, 31
Difference in seasonal between L.4.3 components
adjusted individually as flows and the
seasonal in L.4.3.
Adjustments to F/F bank credit components used
in balancing seasonals in the flow-of-funds
matrix as a whole.
9
Sum of lines 17, 24, and 33.
17, 24, 33
Differences in seasonal between F/F bank credit
components and the corresponding L.4.3
components adjusted as flows. Line 33 is the
sum of differences for seven loan types.
30
Sum of seasonals for F/F loans by types less
sum of seasonals for L.4.3 loans by type.
31
Sum of seasonals for L.4.3 loans by type less
seasonal on total loans in L.4.3 adjusted
directly.
21
25
26
27
1.2 28
-1 .9
-.8
.3
-.2
-1 .1
29
30
31
32
33
OTHERVLO*NS
DTHER LOANS
18
OTHER LOANS
(B IL L IO N S GF DOLLARS)
SEAS ADJ ANNUAL RATES
18
SEAS ADJ ANNUAL RATES
1965
YEAR TOTALS
1966
1967
1968
OTHER LOANS —
1969
I
1968
| III
I
I
IV
25.0
3 .0
1.1
2.1
2.0
.5
.2
4 .6
1. 6
4 .2
3. 1
4 .6
3.4
5. 0
5.3
8 .9
I. 8
6.9
4.8
2. 6
2 .0
12.5
4 .7
3 .1
.6
-.1
.8
-.3
.2
2.1
1 .4
1 7. 9
2. 9
2.9
3.7
♦
-.1
.5
2 .5
4.7
.8
2 9 .0
1 1 .7
3 .0
4 .0
*
.5
. 1
2.0
6 .1
1.7
3 7 .0
13.1
3 .8
5 .7
*
*
.3
4. 2
8. 3
1 .7
2 5. 0
7 .2
3.0
5.9
.1
1.6
.2
4.2
3.0
-.2
27.3
14. 7
2 .3
5 .6
*
-1 .7
.8
4. 2
. 5
.8
1 4.8
12 .7
4.5
3.9
1.2
-.1
-l.l
♦
l.l
2 .5
.6
2 7. 2
8 .7
3 .2
4 .8
•
.5
.3
3.2
5 .5
1 .0
10.9
6.2
3 .8
.1
-.2
-.9
.1
1. 3
*
.4
6.6
1 .3
.6
.7
1.4
.2
-.1
12 .7
1 .6
.4
1 .2
3 .6
.3
.2
.7
1 .0
1 .5
.9
3 .4
1 .2
-2 .5
1. 8
3.0
12
13
14
15
16
17
18
19
20
21
NET I N C R E A S E IN A S S E T S
CORPORATE BUSINESS
U.S. G O V E R N M E N T
SPONSORED CREDIT AGENCIES
MONETARY AUTHORITY
COMMERCIAL BANKS
M U T U A L SVG S . B A N K S
INSURANCE
FINANCE N.E.C.
REST OF THE W O R L D
7 .2
.5
2.9
1 .0
.1
-.5
*
.6
2.3
.4
11.6
2 .0
2.8
1 .6
♦
1 .6
.1
1.5
1.7
.3
6.6
1 .5
3.8
-1 .8
♦
2.4
.1
1.0
-.5
.2
OTHER LOANS —
27.3
3.6
.8
2 .6
5. 5
.4
37.0
4.0
.8
2. 1
8 .8
.3
.9
2.5
2. 0
11.6
2 .0
.4
1 .8
1.4
.6
-.2
I 1970
I
,1
IV
29.0
2.7
. 8
1.0
9.0
.3
12.5
1 .6
.7
.4
2.6
.5
.4
7 .2
.9
.3
1 .6
.6
•3
.2
III
1 7. 9
2. 1
.4
2 .3
5.2
.5
-l .l
.8
2.9
2 .3
2 .4
10 .9
1.8
.6
1.9
5 .1
.3
-.1
—
*
-.5
1 .8
NET I N C R E A S E IN L I A B I L I T I E S
HOUSEHOLDS
FAR M B U S I N E S S
N O N F A R M N O N CO R P . B U S I N E S S
CORPORATE BUSINESS
STATE AND LOCAL G O V E R N M E N T S
S P O N S O R E D CR . A G E N C I E S
BANK AFF I L I A T E S
SAVINGS INSTITUTIONS
FINANCE N.E.C.
REST O F THE WORLD
II
SECTOR TOTALS
2 7 .2
2.9
.8
1.9
6.2
.4
-.3
4.2
4.0
4 .6
2.4
1
2
3
4
5
6
7
8
9
10
11
1969
I
—
I
2
3
4
5
6
7.2
8
9
4 .4
2. 5 10
.3 11
12
13
14
15
16
17
18
19
20
21
BY TYPE
.7
4 .4
4 .0
4 .1
12.2
5.7
4.9
8.2
12. 7
17.1
10.6
-.3
1.2
1 .8
2 .3
4.6
7.0
-.2
5.2
5.4
5. 3
2.5
4. 8
2
-.3
♦
.8
•4
-
1.4
.4
-
1 .5
.8
-
2 .3
l.l
1.2
5 .7
1.3
-
.2
-.4
4.6
.2
.4
2.5
1.0
2.0
1. 6
2.2
1. 4
.5
1.0
1.0
5.2
-.2
-.1
3
4
5
-.4
.3
-.3
-.1
-.2
.1
.5
.5
.2
.3
1 .2
♦
.7
.3
.4
1.3
.3
.7
.3
.4
2 .8
1 .2
.6
.2
.3
6 .1
*
.8
.3
.5
.1
-1.0
.8
.3
.5
.6
3.8
.8
.3
.5
4.9
-.4
1.0
.4
.6
3.8
1.3
.2
.1
.1
2.1
.2
.3
.1
.2
5. 1 6
.1 7
8
-.3
-. 1 9
- . 2 10
DIRECTLY-PLACED PAPER-TOTAL
L I A B I L I T I E S OF:
FINANCE COMPANIES
BANK A F F I L I A T E S
ASSETS OF:
COMMERCIAL BANKS
L I F E INSURANCE COS.
NONFIN. CORPORATIONS
1.0
3 .0
1 .4
1.7
6.5
-1 .8
5.1
2.6
5.8
10.3
7.4
1.0
““
3 .0
-
1 .4
-
1.7
3 .5
3.0
-1 .8
5. 1
-
2.2
.4
3.7
2.2
6. 7
3. 6
1.6
5. 8
2. 7 12
7.3 13
.1
.1
.9
1. 1
.1
1.9
l.l
.1
.3
-1 .4
-.1
3 .1
-.1
.7
5.9
-1 .9
*
.1
1.2
*"• 8
4.7
-.7
.9
2.3
-.6
-.5
6.9
.3
.8
9. 2
.5
1.7
5.1
- . 5 14
1 . 0 15
9. 6 16
•
.2
.7
.1
1 .0
.5
22
23
24
25
26
27
BANKERS' ACCEPT ANCES-TOTAL
L I A B I L I T I E S OF:
REST OF THE WORLO
NONFIN. BUSINESS
NONCORPORATE
CORPORATE
ASSETS OF:
COMMERCIAL BANKS
FOREIGN
DOMEST IC
FEDERAL RESERVE
AGENCIES OF FGN. BANKS
REST OF THE WORLD
28
29
30
31
OPEN MARKET PAPER-TOTAL
I
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
DEALER-PLACED PAPER-TOTAL
L I A B I L I T I E S O F:
NONFIN. CORPORATIONS
FINANCE COMPANIES
BANK A F F I L I A T E S
ASSETS OF:
NONFIN. CORPORATIONS
INVESTMENT COMPANIES
COMMERCIAL BANKS
FINANCE CO. L I A B .
NONFIN. CORP. L I A B .
*
.4
1.4
1. 6
.7
1.2
.2
.1
.1
-.4
2. 0
1.0
1 .0
.8
-.1
♦
*
10.1
-.1
I
11
17
- . 9 18
.7 19
. 4 20
. 4 21
-.1
.1
*
*
-.1
.3
•I
.1
.5
.2
.1
.1
-.2
.3
.1
.1
.3
.7
.4
.4
’■*•2
.7
.4
.4
.4
-.4
-.2
-.2
-.3
.7
.4
.4
-.4
-.4
-.1
•1
♦
•4
*
-.1
.1
*
•
.3
.7
.5
.2
*
-.1
.2
-.4
-.3
*
-.1
.6
♦
-.1
.1
*
1 .0
.1
*
.2
-.2
.2
.4
-1 .2
-.4
-.8
-.1
-.1
1 .4
-.2
-.3
.1
♦
-.1
.8
♦
-.1
.1
♦
-.3
I. 7
-.5
-.5
*
*
.4
i-T
.8
.6
.2
.1
♦
-.2
FINANCE CO. LOANS TO BUSINESS
LI A B IL IT Y -N O N C O R P . BUS.
CORP. BUS.
2 .0
1 .3
•6
1. 2
l.l
•
-.4
-.1
-.3
2 .2
•5
1 .8
4.3
.8
3.5
-.1
.9
-1 .0
3.2
.7
2 .4
1 .0
1 .0
♦
6.8
.5
6.3
6.7
.5
6* 1
2 .7
1.3
1.5
. 6 28
. 9 29
- . 3 30
2.8
2.7
3 .7
3.9
3.2
3.8
3.1
2 .9
3 .0
3 .8
2.9
2.3
31
32
33
34
35
36
37
38
U . S . GOVT. LOANS
L I A B I L I T I E S OF:
HOUSEHOLDS
FARM BUSINESS
NONFARM NONCORP. BUS.
CORPORATE BUSINESS
STATE + LOCAL GOVTS.
SPONSOREO CR. AGENC IES
REST OF THE WORLO
.2
.1
.2
•3
•3
.2
1 .9
.5
*
.2
.4
.6
-.2
1 .3
.3
.2
.4
.2
.2
-.1
2 .6
.4
.2
.4
.2
.3
.2
2.2
.4
.2
.3
.1
.4
-.3
2 .1
.4
.5
.5
.1
.3
-.1
2 .0
.5
.4
*
.1
.5
.4
1.2
.5
-.2
.3
.1
.5
-l.l
2.7
.1
.1
.1
.1
.3
.5
.4
.4
*
.3
.4
.3
.4
.1
.5
-
-
-
2 .2
2 .2
1.2
.3
-.1
.3
.2
.4
1.2
32
33
34
35
36
37
38
39
40
41
42
SPONSORED CREDIT AGENCY LOANS
NCNF ARM NON CORP. B U S .( B C )
FARM BUSINESS ( F I C B )
SVGS. ♦ LOAN ASSNS. (F H L B )
1 .0
.1
.3
.7
1.6
.2
•4
.9
-1 .8
.2
.5
-2 .5
1.2
.1
.2
.9
4# 8
.2
•6
4.0
.1
*
*
*
•6
.i
.3
.2
3.7
.2
.6
2.9
4.0
.2
.7
3 .1
5.7
-.1
.4
5 .3
5.9
.3
.8
4.8
5.6
.3
1.0
4 .4
39
40
41
42
43
44
45
POLICY LOANS (HSHOLO L I A B . )
ASSETS U . S . GOVT.
L I F E INSUR. COS.
.6
•
.5
1.5
.1
1 .4
1.0
.1
.9
1. 3
*
1. 2
2 .5
*
2.5
1.4
♦
1. 3
1.1
*
1. 0
1.6
*
1.6
2.5
*
2. 5
3.4
*
3.4
2 .6
.1
2 .5
3. 3 43
.1 44
3 .2 45
.1
.1
.3
.1
-.3
.5
.1
.3
.2
. 8 46
.1
_
_
_
18
19
20
21
46
MUTUAL SVGS. BANKS LOANS TO
NONCORP. BUSINESS
*
HYPOTHECATED DEPOSITS { HSHOLOS L I A B . )
ASSET-COMMERCIAL BANKS
.1
47
*
-
1/70 DATA ARE BASED ON PRELIMINARY INFORMATION SUBJECT TO R EV ISIO N .
-
-
-.8
.4
-1 .2
*
-.1
.8
22
23
24
25
26
27
47
12 MAY 1970
SECURITY CR E D IT , TRADE CRE DIT , AND TAXES
SECURITY C R E D IT , TRADE CR ED IT , AND TAXES
SECURITY CREDIT, TRADE CREDIT, AND TAXES PAYABLE
(BILLIONS OF DOLLARS)
SEAS ADJ ANNUAL RATES
SEAS ADJ ANNUAL RATES
1965
YEAR TOTALS
1966
1967
1968
1969
1
1968
|1 I I I
IV
1969
1
1
I
II
III
IV
1 1970
1
I
SECURITY CREDIT
9
10
11
12
13
14
15
NET CHANGE IN L I A B I L I T I E S
CUSTOMERS
SECURITY LOANS FROM BANKS>
CUSTOMER D EBI T BALANCES
.9
.9
.4
.5
.4
-.2
*
-.2
5 .6
3 .5
.6
2 .8
4.4
2 .3
.3
2.0
-4 .8
-2 .6
*
-2 .6
13.8
*
*
*
3 .4
5 .9
1.2
4.7
-1 4.1
-4 .7
1.8
-6 .5
.6
-l.l
-. 7
- .5
BROKERS ♦ DEALERS
SECURITY LOANS FROM BANKS>
FROM AG. OF FGN. BANKS
CUSTOMER CREDIT BALANCES
*
-.3
-.3
.5
.6
.6
.1
*
2.1
.9
1.2
2.0
1.0
1.0
-2 .2
-1 .2
-1 .0
13 .7
14.7
-.2
-.7
-2 .5
-5 .4
.3
2 .6
-9 .4
- 7 .7
.2
-1 .9
1.8
2. 8
- .2
-.9
.9
.5
*
.1
.4
*
*
.5
5 .6
l.l
.1
1 .5
4 .4
.7
.3
1.3
-4 .8
-.8
-.2
-1 .2
1 3.8
-.8
.1
14.7
3 .4
1.9
.7
-4 .2
-1 4 .1
-1 .5
-.3
-5 .9
.2
.5
-.3
-.1
-.2
.1
2.8
2 .8
-
2.0
2 .0
-
-2 .6
-2 .6
-
- .2
*
-.2
5 .0
4. 7
.3
NET CHANGE IN L I A B I L I T I E S
HOUSEHOLDS
FARM BUSINESS
NONFARM NONCORP. BUSINESS
(PAYABLES LESS RECEIVABLES)
9.8
.2
.7
-.7
9.3
.3
.9
-1 .3
6 .0
.4
.8
.6
8.4
.4
.8
.4
12.3
.4
.4
*
9 .0
.4
.1
-.2
CORPORATE BUSINESS
STATE AND LOCAL GOVERNMENTS
U . S . GOVERNMENT
FOREIGN
9.1
.4
.5
-.4
7.8
.5
.7
.5
2 .6
.5
.6
.6
5 .7
.5
*
.7
10.9
.5
-.3
.4
NET CHANGE IN ASSETS
HOUSEHOLDS
FOREIGN
COMMERCIAL BANKING
FI NANCE N . E . C .
BROKERS AND DEALERS
AG. OF FGN. BANKS
-1 0 .0
-5 .5
-.3
-5 . 2
4.2
.8
-1 .0
I. 8
-2 . 5
-5 .9
-1 . 1
-4. 8
I
2
3
4
-4 .5
-2 .3
*
3.4
2. 4
1.0
3.5
4 .9
.2
-1 .6
5
6
7
8
-
2.7
.6
- 1.0
.1
2.2
-1 0. 0
-1 .8
-.A
-2.6
4.2
l.l
-.1
1.4
9
-2 .5
- 1 . 6 10
* 11
3. 8 12
- 6 .3
-6 .5
.2
- .6
-.5
-.2
-5.2
-5.2
*
I. 8
1.8
-
-4.6 13
- 4 . e 14
.2 15
9 .8
.4
1.2
.8
9 .6
.4
.5
-.3
15.1
14. 5
10 . 0
.4
. 4
.4
.4
. 4
.3
8 .3
.5
.3
-.4
5 .6
.5
1.3
*
7 .9
.5
-l.l
1. 7
14.
13 .4
-.5
.5
-.4
-.2
7. 1
.5
.S
.7
20 . 1
18.2
1 .4
.3
.1
21.1
18.5
1.1
.3
1 .3
-5 .0
-6 .7
-5.9
TRADE CREDIT
1
2
3
4
5
6
7
8
9
10
11
12
13
NET CHANGE IN ASSETS
CORPORATE BUSINESS
U . S . GOVERNMENT
INSURANCE
FOREIGN
15.8
15.1
.4
.2
.1
13.3
11 .3
1.2
.2
.5
1 0 .9
8.8
1.5
.3
.4
16.6
14 .8
.6
.3
.9
19.5
17.3
.9
.3
1.0
18.0
16.5
.2
.3
.9
20 .4
18.6
.4
.3
1 .0
2 0 .9
18.3
1.7
.3
.5
14
DISCREPANCY ( 1 - 9 )
-5 .9
-3 .9
-4 .9
-8 .2
-7 .2
-9 .0
-1 0 .6
-1 1 .3
*
.2
7
.5
-.3
.5
8. ?
.4
.9
. 1
5.7
.5
1
?
3
4
5
6
.6
7
8
15 . 8
14.6
14.1
15. 0
-1 .2
.3
.4
9
10
11
12
13
-6 .3
14
-.5
.3
1.9
*
PROFIT TAXES PAYABLE
♦
-4 .1
-4 .1
*
*
*
-.1
*
*
*
3.5
3 .7
-.2
*
.1
-.1
*
.1
1.1
.8
*
.2
*
*
*
*
*
-1 .4
-1 .9
*
.4
♦
.1
*
.1
*
2. 1
2.9
♦
-.8
♦
*
♦
.1
5 .7
5 .6
•
*
*
*
.2
-.1
-3 .3
-3 .9
. 6
*
-. 1
. 1
*
-
1 .4
.8
*
.3
*
.2
*
*
.1
.5
.5
.1
-.1
♦
.1
♦
*
*
7. 1
6.4
.1
.6
*
*
♦
*
*
1 .3
1. 2
.1
-.5
-.7
.2
-4 .6
-4 .6
*
3 .4
3 .3
.1
1.0
1.0
-
-1 .4
-1 .4
.1
2 .1
2 .0
.1
5. 0
5 .0
-
-3 . 7
-3 .7
♦
1 .5
1 .4
.1
1 .4
1 .5
-.1
7 . 3 10
7 .3 11
* 12
.4
.7
.5
.1
.1
-.1
-.9
-.2
13
-. 4
-4 .3
-.5
-4 .0
.2
2
-3 .9
3
TOTAL TAXES PAYABLE
NONFINANCIAL CORPORATIONS
FEDERAL RESERVE
COMMERCIAL BANKS
SVG. ♦ LOAN ASSNS.
L I F E INSURANCE COMPANIES
OTHER INSURANCE COMPANIES
FINANCE COMPANIES
BROKERS + DEALERS
1. 7
2.2
-.5
-.1
*
.1
.1
*
10
11
12
TOTAL TAXES RECEIVABLE
U. S. GOVERNMENT
STATE ♦ LOCAL GOVTS.
13
UNALLOCATED
1
2
3
4
5
6
7
8
9
*
.2
.2
*
*
. 1
*
*
*
.8
.4
1.1
- .5
-4 .0
1
2
3
4
5
6
7
8
9
PROPRIETORS* EQUITY IN NONCORPORATE BUSINESS
I
TOTAL HOUSEHOLD INVESTMENT
NONFARM NONCORPORATE BUSINESS
FARM BUSINESS
.4
-2 .3
-.4
-3 .6
-1.8
-2.8
.2
-3 .4
1/70 OATA ARE BASE D ON P R E L I M I N A R Y I F O R M A T I O N SU BJ EC T TO REVISION.
-.6
-4 .1
.1
-3 .1
.7
-3 .7
-
-4 .3
MISCELLANEOUS I
12 MAY 1970
MISCELLANEOUS I
20
MISCELLANEOUS FIN ANCIAL CLAIMS
(B I L L I O N S OF DOLLARS)
SEAS ADJ ANNUAL RATES
SEAS ADJ ANNUAL RATES
YEAR TOTALS
1967
1968
1966
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
22.6
.4
8.0
1.5
- .2
.2
3.2
.4
5 .7
.5
-1 .3
-.2
13 .7
.3
1 .5
2.4
.4
1.1
1 .8
1. 5
2 .4
.5
3 .5
-1 .5
1.7
2 .5
.4
9.1
16.6
1.8
2.1
.3
.5
.3
.5
3.4
.3
.1
2.3
-.3
.5
.1
5 .0
1 .8
.3
.5
-3 .5
-.3
-.6
.2
10 .4
1.9
.5
.5
4.6
- .1
-.6
2.4
.1
.6
.1
.1
2.8
3.3
24.1
.4
6 .9
.5
-.3
.2
1 0 .5
.2
.3
.5
1. 8
TOTAL ASSETS
HOUSEHOLDS
FARM BUSINESS
NONFARM NONCORPORATE BUSINE
CCRPORATE BUSINESS
SPONSORED CR. AGENCIES
U . S . GOVERNMENT
COMMERCIAL BANK IN Gi/
SAVINGS IN S T I T U T IO N S
L I F E INSURANCE COMPANIES
PRIVATE PENSION FUNDS
S . + L . G O V T . R T R . FUNDS
REST OF THE WORLD
BANKS IN TERR.AND POSS.
8.8
1.3
1 0 .9
.2
.2
.4
1 .0
-.1
1 .2
1 8
1 .2
.
1.5
-.4
2 .9
.5
3 .3
1 .2
.3
5 .1
.1
*
.7
.7
.5
.3
.4
1 .4
1 .0
-.5
4 .2
.1
.1
.2
.6
.1
.1
UNALLOCATED, NET
(A )
22.8
16.5
.3
5 .2
-.4
.5
♦
2.9
1 3.6
.3
4.6
2.1
.8
2.8
11.2
1 .7
.3
.4
3.8
*
-.1
1 .2
1 .0
.9
.8
.1
II
IV
3 4 .9
.3
6 .5
.4
.4
.4
16.6
.9
.6
1.8
2. 7
1.7
2.5
18.3
.4
6 .5
-.9
.4
-.1
5 .0
TOTAL L IABIL I T IE S
HOUSEHOLDS
CORPORATE BUSINESS
U . S . GOVERNMENT
SPONSORED CR . AGENCIES
MONETARY AUTHORITIES
COMMERCIAL BANKS
BANK A F F I L IA T E S
SAVINGS IN STI TU TI O NS
L I F F INSURANCE COMPANIES
NONL IFF INSURANCE COMPANIES
FINANCE N . E . C .
REST r] F THE WORLD
|
1968
1 III
1969
.1
*
-.3
1. 9
-.1
.6
.2
.1
3 .9
.1
2 .1
.8
.7
I 1970
I
I
1969
4 2 .4
.4
5 .0
.1
.3
-.7
2 6 .6
1.6
1 .2
1.8
2.7
.9
2.5
.6
1 9.6
2.0
.3
.5
1.3
.3
-
1 .0
*
III
48 .6
.4
6.5
1.0
-.6
-2 .3
2 8 .2
3 .5
1.4
1 .9
2 .7
1.6
4 .4
2 9 .9
2.0
.3
.5
6.2
.3
.6
.4
.1
15.1
.2
4.0
- 1.2
.5
-. I
. 1
16 . 2
.4
.1
.5
.5
-.2
16.4
.3
6.4
-. 6
1
2
3
4
5
1 .2
6
.2
7
-3 . I
8
1 .9
9
.9
2 . 1 10
3 . 0 11
1 .7 12
2 .4 13
1 1 .2
3 8.7
.3
6.7
-.3
l.l
3 .5
16.0
1.5
-.7
.3
7.4
.9
.6
I. 0
-
1 .8
2.8
2 .3
3.8
15.8
2 .1
.3
.5
5 .4
.3
.5
1. 5
2.2
-3 .0
.3
1 .9
2.9
2.2
-. 9
.2
.4
.4
. 1
4.0
.4
.3
3.3
-.5
.5
.3
.1
— 7.4
.3
-.1
. 9 14
2 .3 15
.3
16
.5 17
5. 3 18
. 6 19
.3 20
- . 5 21
- . 5 22
. 5 23
.3 24
.1 25
2.2
.3
. 5
.8
- 8 . 4 26
.1
.1
7 .0
.3
7 .4
5 .3
1 5 .0
18.3
17.9
12.2
22.8
1 8. 7
22 .9
10.4
2 .7
.2
1 .8
7 .0
3.6
-4 .3
14.3
1 4.5
4.4
-5 .3
L II A
AB
L
B .. ))
.- 27
.5
.2
l.l
.3
.2
.4
.8
1.5
1 .6
1. 3 30
-1 .2
-.3
-.9
-.1
l.l
.8
.4
-. 1
.1
-.3
.2
.2
*
-.2
•
.2
.1 31
.3 32
. 2 33
- . 4 34
-
-
~
1.1
.1
.1
27
15.5 28
DEPOSITS
-1 1 .1
29
29
CCML. BANK L I A B . TO FGN. BRANCHES
ASSET-REST OF THE WORLD
30
DEP. AT AG.OF FGN. BANKS (FINANCE N . E . C .
ASSET-REST OF THE WORLD
-.5
31
32
33
34
FOREIGN CURRENCY EXCEPT O F F I C I A L —
LI A B I L I T Y - R E S T OF THE WORLD
-.1
ASSETCORPORATE BUSINESS
*
U . S . GOVT.
♦
COMMERCIAL BANKS
-.1
.2
-.1
.3
♦
-.1
*
-.2
♦
.1
.2
-.1
*
*
*
-.1
.1
.9
.9
*
.1
*
-.1
-.1
.2
POSTAL SAVINGS DEPO S IT S ( U .S . G O V T . L I A B . )
ASSET - HOUSEHOLDS
“ •!
-.2
-.1
-
-
-
-
*
35
2 .7
.9
2.0
1 .9
-.7
2 .2
3. 8
2.5
-.4
3 .5 36
3.0
.1
.2
.9
.7
.6
.8
1 . 0 37
.1
.1
.1
.2
.2
.2
.3 38
(B)
37
38
U . S . GOVT. EQUITY IN IBRD* E T C .
LI A B I L I T Y - R E S T OF THE WORLD
39
DEPOSITS AT FHLB ( S .* L.A SS N S .
LIA BI LIT Y-S P O NS OR ED CR. AG S.
40
41
42
43
44
45
EQU ITI ES IN U . S . G . C R . AGENC IES
U.S.GOVERNMENT
PRIVATE
NONFARM NONCORP. ( B C )
FARM BUS. I F I C B ♦ FLB)
SVGS
LOAN ASSNS. (FHLB)
CORPORATE BUS .(F NM A)
ASSET)
-.2
1
.1
.1
.3
.3
.7
-
.1
.1
.2
*
.4
♦
Banks plus affiliates.
*
-.4
.7
*
-.5
-.7
-.3
-.3
-.6
.1
-.1
.2
*
.2
.1
.4
.1
*
.2
*
*
*
*
.2
*
*
.1
*
•
*
*
*
.1
*
*
.1
.1
.3
.1
.1
*
-.2
-.3
.2
-.6
-.6
*
*
.1
*
*
*
*
*
*
.1
*
*
*
.1
.1
.1
*
*
-.1
♦
1/70 DATA ARE BASED ON PRELIMINARY INFORMATION SUBJECT TO
\f
35
EQU ITI ES
DIRECT FGN. INVESTMENT BY U. S.CORP
3.3
L I A B . - R E S T OF THE WORLD
DIRECT INVESTMENT IN U . S .
.1
ASSET-REST OF THE WORLD
36
-
.
-.1
39
. 3 40
- . 2 41
*
*
.3
.1
42
43
44
45
12 MAY 1970
MISCELLANEOUS I I
MISCELLANEOUS I I
MISCELLANEOUS FINANCIAL CLAIMS (CONTINUED)
(B ILLIO N S OF DOLLARS)
21
SEAS AOJ ANNUAL RATES
SEAS ADJ ANNUAL RATES
YEAR TOTALS
1966
1967
1968
fC J
LIFE
I
1968
I III
1969
II
III
IV
I 1970
I
I
INSURANCE CLAIMS
1
DEFERRED AND UNPAID PREMIUMS ( L I F E IN S .
L I A B I L I T Y - HOUSEHOLDS
.3
2
3
4
L I F E COMPANY RESERVES I HOUSEHOLDS
LIA B ILITY LI F E INSURANCE
ACCIDENT AND HEALTH
POLICY DIVIDEND ACCUM.
ASSET)
.4
ASSET)
.6
.2
.5
.3
.4
.3
.4
.4
.4
.4
.3
.3
.3
.7
.2
.5
1 .0
.5
.5
.9
.3
.5
.9
.3
.6
.9
.3
.6
.9
.3
.5
.9
.3
.5
.9
.3
.6
.9
.3
.6
9
*3
.6
\
%
‘. 6
4
1. 8
.6
.4
.2
.7
2.1
.7
.4
.2
.8
2.4
.8
.5
.2
.9
2 .7
.8
.5
.2
1 .2
2.4
.8
.5
.3
.9
2.5
.8
.5
.2
1.0
2.7
•8
.5
.2
1.1
2.7
.8
.5
.2
l.l
2.8
.8
.5
.2
1.3
2.9
.8
.5
.2
1.3
3.0
.9
.5
.2
1 .4
5
6
7
8
9
9
1
2
<C) NONLIFE INSURANCE CLAIMS
5
6
7
8
9
L I A B I L I T Y - OTHER INSURANCE
ASS ETCORPORATE BUSINESS
NONFARM NONCORP. BU
FARM BUSINESS
HOUSEHOLDS
IE)
10
1 .5
.4
.3
.1
.7
UNALLOCATED ASSETS AND L I A B I L I T I E S
4.8
7 .4
5 .3
1 5. 0
18.3
17.9
12.2
22.8
1 8 .7
2 2 .9
10.4
15.5 10
11
12
13
14
15
16
17
18
19
20
21
22
TOTAL L I A B I L I T I E S
CORPORATE BUSINESS
U.S. GOVT.
U.S. G O V T . - W I T H O U T L E V E L S
SPONSORED CR.AGENCIES
SAVINGS INSTITUTIONS
LIFE INSURANCE
B A N K S IN T E R R . A N D P O S S .
REST OF THE WORLD
MONETARY AUTHORITIES
BANK AFFILIATES
COMMERCIAL BANKS
8.2
4.6
.1
-.1
*
.2
.5
.1
-.4
*
9.1
4.9
-.1
-.2
*
.5
.8
.3
.1
♦
—
2 .0
17.2
6.6
—
.5
-.1
.3
.7
.2
#
.2
—
3 .3
2 0 .0
5 .7
-.2
.7
.5
.6
.9
.7
.2
.4
.9
4 .2
12.2
7 .9
23 .7
5 .6
1.6
9.3
6.4
-.2
-.6
.1
.3
.5
.3
.1
-.1
—
1.3
.2
6 .3
2 2. 2
4 .1
-.1
.2
.6
1.2
.9
.6
1. 5
-.7
1 .6
1 .5
24. 0
5.8
-.5
1 .6
-.1
1 .4
1 .0
.8
— *8
-2 .3
3 .5
.2
2 5 .5
6.1
-.2
-.1
1.2
-.7
.9
.8
1.0
3.5
1.5
10.1
9. 8
6 .6
*
.9
.2
.3
1.0
.6
-.7
1.0
-3 .0
5.1
17.0
5 .4
-2 .4
1.8
1.0
.9
1.2
.4
-1 .5
.2
1.9
3. 1
11
12
13
14
15
16
17
18
19
20
21
22
23
24
25
26
F L O A T S IN C O M L . B A N K S T M N
ON INTERBANK DEPOSITS
ON I N T E R B A N K L O A N S
LESS-ON M.B. RESERVES
1. 5
.3
1.2
*
1 .0
.7
*
-.3
.6
.5
.2
*
5 .5
.9
4.7
.1
5 .4
.4
5 .2
.2
-.6
-2 .7
2.9
.8
11 .7
3 .5
7.8
-.5
1 0 .8
.9
9 .9
.1
13 .5
3.3
2.9
-7 .4
1 .4
-3 .8
12.1
6 .9
-2 .1
.8
-1 .8
l.l
4.9
2.5
1.3
-l.l
23
24
25
26
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
3. 8
.4
•
1.2
.6
.6
.8
.1
.1
.1
2 .2
-1 .9
*
1.9
-.1
.3
.2
.1
.1
1.6
1. 7
.5
.3
2 .2
*
.1
.1
.1
.3
-1 .8
-5 .6
-7 .1
-.3
2 .0
.2
.3
.2
.1
.1
-1 .2
1 1 .5
4 .6
-.1
2.1
.1
.2
.1
.1
.1
4.3
-.7
-1 .5
.3
.1
.8
.2
-.2
.1
.2
-.5
5 .4
.7
.3
4.1
-.6
.2
-.1
.1
.4
.2
2.6
2 .3
.3
1.3
.2
.1
.4
.1
.4
-2 .4
-.6
.4
.2
3.1
-.6
.2
.3
.1
.3
-4 .6
1 .5
.5
.6
*
-.7
.2
.3
.1
.1
.4
27
28
29
30
31
32
33
34
35
36
17.8
19.1
8 .0
4.9
3. 1
1. 9
.2
1 .2
I
2
3
4
5
6
7
8
27
28
29
30
31
32
33
34
35
36
NET T O T A L
(LI AB. - A S S E T S )
TOTAL ASSETS
CORPORATE BUSINESS
S P O N S O R E D CR. A G E N C I E S
C O M M E R C I AL B A N K I N G
SAVINGS INSTITUTIONS
LIFE INSURANCE
PRIVATE PENSION FUNDS
S .+ L . G O V T . R T R . F U N D S
B A N K S IN T E R R . A N D P O S S .
REST OF THE WORLD
COMPONENTS OF "SOURCES N . E . C . "
1 SOURCES N . E . C .
2
MI S C. FIN AN . L I A B I L I T I E S
3
COMMERCIAL BANKS
4
FLOATS
5
UNALLOCATED
6
BANK A F F I L IA T E S
7
MONETARY AUTH.
8
SPONSORED AGENCIES
5.8
5.6
3. 1
1 .5
1 .6
3.8
6.4
2.3
1. 0
1 .3
5.6
8 .4
2 .7
.6
2.0
13 .2
1 3.3
8 .7
5 .5
3 .3
*
♦
-.1
.4
*
.5
_
—
_
-
-
1.5
-.2
1.8
.6
.2
.6
.2
.5
-.9
-1 .5
.8
.2
1.3
-.2
—
—
IN SUMMARY TABLE
.2
-.3
15.8
18.1
9.6
5 .4
4.2
.9
.4
.4
2 .6
5 .8
-.4
-.6
.2
.2
-.2
14 ,3
19.6
1 8.0
1 1. 7
6 .3
—
-.2
-1 .3
1 4 .9
20.1
1 2. 3
1 0.8
1 .5
1 .6
-.7
.3
23.5
2 1 .9
1 3.7
1 3. 5
.2
3.5
-2 .3
17.8
2 3 .8
1 1 .5
1 .4
10.1
1 .5
3 .5
1.1
9 .5
8.8
3 .0
-2 .1
5. 1
-3 .0
1 .0
.6
9
10
11
12
13
SVGS+LOAN ASSNS.
MUT. SVGS. BANKS
INSURANCE
AGENCIES OF FGN BANKS
BANKS IN TERR.-*- POSS.
.1
.1
2 .7
-.5
.1
.3
*
3 .0
.2
.3
.3
.1
3.9
.5
.3
.1
.2
3 .9
.2
.2
.3
.2
4.6
1.1
.7
1 .3
.5
3 .9
.3
.2
-1 .7
.2
4 .2
.2
.2
1.1
.1
4.4
.4.
•6
.9
.5
4 .5
.8
.8
-.6
-.1
4.6
1 .5
.8
♦
.3
4 .8
1.6
.6
.8
.2
5.1
1 .3
.4
14
15
16
17
- M I S C . FINANCIAL ASSETS
SPONSORED AGENCIES
COMMERCIAL BANKING
FINANCE N . E . C .
2 .5
.1
.7
1. 7
3.5
.1
1.4
2. 0
4.1
*
1 .2
2.9
2.8
*
1.9
.9
3.2
.3
2 .3
.7
3.6
-.3
2 .1
1.9
3.2
-.1
2 .4
1.0
1 .4
.3
*
1.1
4 .0
.3
4 .0
-.2
3 .0
.3
1. 5
1 .2
4.2
.2
3.3
.7
. 7 14
. 6 15
- . 5 16
. 6 17
18
19
20
21
22
23
GROSS SAVING
TAXES PAYABLE
- PHYSICAL INVESTMENT
-GOLD 6 OFF FGN EXCHANGE
-TREASURY CURRENCY
-TRADE CREDIT
-DISCREPANCY TOTAL FOR ALL
FINANCIAL SECTORS
3 .6
-.5
•8
-1 .3
.2
.2
4.1
*
1 .0
-.3
.7
.2
4 .3
*
1.0
-.5
.5
.3
3 .6
-.2
1 .3
-1 .2
.2
.3
3 .9
.3
1 .4
-.1
*
.3
3 .9
•6
1 .4
1.1
.1
.3
3 .4
-.8
1 .2
3 .1
.3
.3
1 .3
.2
1 .4
*
.1
.3
4.5
•6
1 .4
-.9
-.4
.3
4.4
.6
1 .4
2 .0
.2
.3
5. 5
*
1 .4
-1 .5
.3
.3
.6
1 .6
1 .6
.1
1 .7
1 .1
-.2
3 .6
-.9
4 .1
.1
24
1/70 DATA ARE BASED ON PRELIMINARY INFORMATION SUBJECT TO R EV ISIO N .
4.6
.7
1.5
.6
1.8
.3
9
10
11
12
13
18
19
20
21
22
23
1.7 24
12 MAY 1970
TOTAL CLAIMS
T O T A L CLAIMS
22
TOTAL FINANCIAL ASSETS ANO L I A B I L I T I E S
(B IL L IO N S OF DOLLARS)
SEAS ADJ ANN U A L RATES
SEAS ADJ ANNUAL RATES
YEAR TOTALS
1966
1967
1968
1969
1969
I
1968
| III
II
I 1970
I
I
III
TOTAL FUNDS RAISED AND ADVANCEO IN CREDIT MARKETS
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
18
19
20
21
22
FUNDS RAISED IN CR EOIT MARKETS BY—
NONFINANCIAL SECTORS
70.4
FEDERAL GOVERNMBiT
1 .7
FOREIGN
2.6
PRIVATE DOMESTIC
66.0
HOUSEHOLDS
2 8 .8
FARM BUSINESS
3.3
NONFARM NONCORP. BUS.
5 .8
CORPORATE NONFIN. BUS.
2 0 .5
STATE * LOCAL GOVTS.
7 .6
FINANCIAL SECTORS
12.1
SPONSORED CR . AGENCIES
2.3
SAVINGS AND LOAN ASSNS.
.8
FINANCE COMPANIES
5. 2
INVESTMENT COMPANIES
3 .1
COMMERCIAL BANKS
.8
BANK A F F I L IA T E S
EQUALS— TOTAL FUNDS RAISED AND ADVANCED
IN CREDIT MARKETS
8 2 .5
NET ACQ UI SIT ION S BY: PRIVATE DOMESTIC
6.0
NONFINANCIAL SECTORS
2.5
HOUSEHOLDS
.4
NONFARM NONCORP. BUSINESS
.5
NONFINANC IAL CORPORATE BUS.
2.5
STATE ♦ LOCAL GOVTS.
6 8 .5
3.5
1.5
63.4
2 3 .2
3.5
5.5
2 4 .9
6 .4
82.6
1 3 .0
4 .1
65.5
1 9.7
3.5
5.0
2 9 .3
7 .9
97.4
1 3.4
3 .0
8 1.1
31.8
2 .9
5.2
31.0
10.2
88.2
-3 .6
3 .5
88 .3
3 1 .6
3. 6
6 .5
3 7 .8
8.9
11 8.0
2 9 .3
2.6
86.0
33 .2
2.8
6.0
31.1
12.8
9 5 .5
-5 .4
2.9
98.0
3 4 .9
2.2
5. 8
4 0 .7
14.3
8 8 .9
-5 .3
4 .2
90.0
3 0 .9
3. 2
6 .9
3 8 .2
10.8
8 8 .8
-1 3 .3
5 .5
9 6 .6
35 .0
3 .8
5.6
42.1
10. 1
93.4
3. 7
2.4
87.3
31. 9
3 .7
7 .0
3 7 .8
7 .0
82.2
.4
2.1
7 9.7
2 8.8
3 .5
6 .4
3 3 .3
7 .7
81.0
2.3
1 .9
7 6.9
2 6.4
2 .6
4.4
3 4. 3
9.2
I
2
3
4
5
6
7
8
9
1 1 .5
4 .8
.1
2.8
3.7
.1
1 .3
-.6
-1 .7
.9
2 .5
.2
15.1
3 .5
1. 1
5 .5
4 .7
.2
31 .0
8.8
4 .1
8.2
5 .6
.1
4.2
9.6
1 .7
-.1
3 .0
4 *8
.2
16.1
2.5
1 .3
7 .4
5. 0
-.1
2 0 .8
4.1
3.2
5. 1
7.5
.1
.8
31.6
7. 5
3. 6
1 1 .4
4.6
.3
4 .2
3 7. 8
10. 9
5. 1
10.8
6 .0
*
5.0
3 3. 6
12.6
4.6
5.5
4 .1
-.1
6.9
30.3
15.0
2 .6
2 .5
2. 8
.2
7. 2
10
11
12
13
14
15
16
83.9
11 2.5
119.2
12 7. 6
1 09 .8
12 0.4
13 1. 3
115.8
-. 8
-1 .4
.5
-l.l
1.2
15.2
5 .5
.7
8 .3
.7
37.3
18.7
.5
10.8
7 .2
4.9
-6 .9
1.1
7 .5
3.1
41.9
2 2. 2
.2
13.1
6 .5
2 1 .5
4 .9
.5
12.1
4 .1
4 9 .3
3 2. 2
1 .3
10.9
4.9
18.9
1 1 .9
.5
3.1
3.4
10.4
3 .0
.6
5.8
.9
36. 3
15.8
.3
6. 8
13.4
111. 3 17
30. 6
17.2
.6
7 .3
5 .5
18
19
20
21
22
2.8
4 .9
4.6
5 .2
2.6
4.8
2 .9
2 .3
1.6
3. 7
2 .8
24 FINANCIAL IN S TI TU T IO N S
25 SPONSORED CREDIT AGENCIES
26 FEDERAL RESERVE SYSTEM
27 COMMERCIAL BANKS
28
BANK A F F I L IA T E S
74.0
2.2
3 .8
2 9 .0
5 8 .0
5 .1
3 .5
1 6. 2
77 .3
-.1
4.8
3 5 .5
8 9. 8
3 .2
3 .7
3 8 .0
7 7.3
8 .9
4. 2
11.1
3 .8
114.8
1 .2
7.2
5 2.2
8 9 .1
1.7
-2 .9
51.2
67.1
3.9
3.1
14.6
1 .4
96.0
7 .1
5. 0
2 0 .0
7.0
7 2 .3
1 0. 7
-.4
2. 5
6.2
7 4 .6
13.1
9 .2
7. 8
.7
76.2
16.0
.3
3.4
1 1. 4
24
25
26
27
28
29
30
31
32
PVT. NONBANK FINANCE
MUTUAL SVGS. BANKS
SVGS. * LOAN ASSOCIATIONS
CREDIT UNIONS
3 9.0
3 .9
9 .6
1.0
33.2
2.7
4.2
1 .0
37.1
5 .2
9 .2
.8
44 .9
4.3
1 0. 0
1. 2
4 9 .3
3 .0
10.0
1 .5
54.2
3 .8
9.0
1.2
3 9.1
4 .3
7.5
2.1
44.1
4 .9
1 2 .6
1 .4
5 6 .8
3 .5
1 1 .7
1.8
53.2
1.4
8 .8
1 .5
4 3 .9
2 .3
6.8
1.1
45.0
2.7
6 .4
.8
29
30
31
32
33
34
35
36
L I F E INSURANCE COMPANIES
OTHER INSURANCE COMPANIES
PVT. PENSION FUNDS
S . * L .G O V T . RT R . FUNDS
8 .2
1 .1
5 .2
3.3
8.1
1.9
5 .5
3 .8
8.4
2 .1
5 .4
4.5
8.6
3.0
5 .8
4.1
8 .5
2.6
6.2
5 .0
7 .3
3 .0
5.9
4.1
8. 5
3 .1
6.7
4.6
8 .6
1 .9
5 .7
4.2
8.6
2.7
5 .5
5.8
9 .6
3 .0
8.0
6 .4
7.1
2.9
5 .6
3 .5
8 .7
3.1
6.2
4.5
33
34
35
36
37
38
39
40
41
FINANCE COMPANIES
OPEN-END INVESTMENT COS.
SECURITY BROKBtS ♦ DEALERS
AGENCIES OF FGN. BANKS
BANKS IN U . S . POSSESIONS
5 .2
2 .0
-.4
-.1
.1
2 .4
2.5
.7
.1
.1
.7
.9
— •6
.4
.1
5 .2
2.4
-.1
.1
.1
7 .8
3.4
.3
.8
.2
2.8
2.8
1 3. 6
•4
.1
7 .3
2.2
-7 .2
4.6
2.9
-3 .0
.2
•2
10. 8
3.1
2 .2
.8
.3
8.3
4.1
.7
1.2
.3
8 .2
3 .4
1.6
1.2
.2
2 .2
l.l
8. 3
I. 0
.2
37
38
39
40
41
-.3
-1 .8
2.8
2.3
1.9
3 .2
-1 .5
1 .3
6.0
2.1
2 . 2 42
23 U . S . GOVERNMENT
42 REST OF THE WORLD
—
2 .4 23
TOTAL CLAIMS ANO THEIR RELATION TO TOTAL FINANCIAL ASSETS
--------— — — — -------- ----------------- — ----------------------------- ------- -----------------—----------- — — --------- -------- ------- ---------- ------------------- ------------- —
I TOTAL CREDIT MARKET DEBT
(FROM PRECEDING TABLE 1
OTHER DEBT FORMS—
2
FOREIGN EXCHANGE
3
TREASURY CURRENCY
8 2 .5
8 0 .0
83.9
11 2.5
119.2
1 27 .6
111.5
10 9.8
12 0.4
13 1.3
115.8
111.3
1
.4
.2
*
.9
1.1
.7
2 .1
.4
.3
.3
2 .0
•2
3.7
.3
.4
.2
-.1
.2
2.8
.1
-1 .9
.5
-2 .5
1.7
2
3
4
5
6
7
8
DEPOSITS AT FINANCIAL INSTS
BANKING SYSTEM
DEMANO DEP. ♦ CURRENCY
TIM E AND SVGS.DEPOSITS
SAVINGS IN S TI TU T IO N S
4 0. 8
2 7.7
7.6
2 0.0
13.1
2 2 .8
15.9
2 .4
1 3.3
7.0
5 5 .1
3 8.1
14 .3
2 3.8
1 7 .0
43.7
3 1 .3
1 0.7
2 0 .6
1 2 .4
3 .6
-4 .4
6.6
-1 1.0
8.0
8 2. 9
71.4
39.2
3 2 .3
1 1. 5
4 7. 1
3 4 .7
7.2
2 7 .5
1 2 .4
-3 .6
-1 7 .0
-1 0 .1
-6 .8
13.4
7.9
-.6
7 .3
-7 .9
8.5
-1 2 .5
-1 8 .3
3 .2
-2 1 .5
5.8
2 0. 6
16 .4
2 4. 2
— 7.8
4 .2
1 7 .0
11.8
-.3
1 2. 0
5.3
4
5
6
7
8
9
10
11
INSURANCE ♦ PENSION RESERVE
U . S . GOVERNMENT
INSURANCE SECTOR
17.1
1.4
1 5.7
18.1
1 .4
1 4.7
20 .1
1 .4
U .7
1 9 .5
1 .3
18.2
2 0 .4
1 .7
1 8 .7
2 0 .0
.9
19.1
20.6
1 .0
19.6
1 8.5
1.8
16.7
1 9 .9
1.3
18.6
2 4. 6
2.4
2 2 .2
1 8.5
1.2
17.3
19.3
1 .5
17.8
9
10
11
12
13
14
15
16
SECURITY CREOIT
TRAOE DEBT
PROFIT TAXES PAYABLE
NONCORP. PROPRIETORS*
MISCELLANEOUS
.9
9 .8
1 .7
-1 .9
1 3 .4
.4
9 .3
.2
-4 .1
18 .3
5.4
4 .0
-4 .1
-4 .6
1 4.5
4.4
8 .4
3.5
-3 .2
2 4. 1
-4 .8
12 .3
1 .1
—4 .8
34.9
1 3.8
9.0
-1 .4
-2 .9
2 2 .8
3.4
9.8
2 .1
-3 .0
2 2 .6
-1 4 .1
9 .6
5 .7
-5 .3
42.4
.6
15.1
-3 .3
-4 .5
48.6
-1 0 .0
1 4 .5
1.4
-4 .7
3 8 .7
4.2
1 0. 0
.5
-4 .5
11.2
-2 .5
8.2
7. 1
-3 .6
1 6.4
12
13
14
15
16
17
18
19
20
21
22
INTERBANK CLAIMS
MEMBER BK. RESERVES
VAULT CASH
FEOERAL RES HIVE FLOAT
MEMBER BK. BRROWING
A F F . LOANS TO BANKS
.3
.4
.3
-.4
-.1
-
2 .3
1 .3
.4
.3
.1
“
1.6
1 .2
.5
*
•
•
3.2
.9
1 .3
1.0
*
-
.9
.2
.2
*
*
.6
-1 .6
-.8
3 .7
-5 .0
.6
1 2 .9
2 .9
2 .9
6 .9
.1
-2 .0
.1
-.3
-3 .8
.9
1.0
4.1
2.3
.9
-.3
.5
.7
2.9
-l.l
.3
3.2
.2
.4
-1 .4
-.4
-.3
.6
-1 .6
.3
8 .3
3 .2
3 .0
2.5
-.8
.5
17
18
19
20
21
22
TOTAL DEBT ABOVE
1 45 .3
148.2
DEDUCT— FLOATS NOT INCLUDED IN ASSETS
.4
DEMAND DE POSIT S - U . S . G O VT.
-.3
OTHER
2.5
.3
TRAOE CREDIT
* 5.9
-3 .9
DEOUCT— L I A B I L I T I E S NOT ALLOCATED AS ASSETS
TREASURY CURRENCY
.*
.1
.7
TAXES PAYABLE
.4
4 .8
7.4
MISCELLANEOUS
18 1 .8
2 1 8 .4
183.3
2 7 2 .4
231.2
161.6
2 0 9 .0
189.1
173.5
18 0.9 23
.1
2 .7
-4 .9
.4
1.9
-8 .2
*•6
-.6
-7 .2
1. 5
-1 .5
-9 .0
.8
2.4
-1 0 .6
-3 .2
-.6
-1 1 .3
.5
-.3
-5 .0
-.6
-1 .3
-6 .7
.6
-1 .0
-5 .9
1.6 24
- . 7 25
- 6 . 3 26
.2
.5
9.3
.2
.1
1 5. 0
.2
.1
18.3
*
♦
17.9
.1
♦
12.2
.1
.8
2 2. 8
.6
.4
18.7
*
-.1
22 .9
.3
-.9
1 0. 4
- . 1 27
- . 2 28
15.5 29
TOTALS ALLOCATED TO SECTORS
AS ASSETS
17 7.9
2 0 9 .0
173.0
2 63 .6
22 6 .3
153.0
194.1
1 7 4 .8
169.9
171.2 30
23
24
25
26
27
28
29
30
1/70 DATA ARE BASED ON
EQ.
14 3.2
143.9
PRELIMINARY INFORMATION SUBJECT TO R EV ISIO N .
~
@FedFRASER