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F/F Outstandings 1974 May 1975 Flow of Funds, Assets and Liabilities Outstanding 1974 Division of Research and Statistics Board of Governors of the Federal Reserve System Washington, D.C. 20551 1974 Preliminary Assets and Liabilities Outstanding TABLES 1. All sectors, year-end 1974 2. Nonbank finance, year-end 1974 Summary Tables 3. Credit market debt owed by nonfinancial sectors 4. Direct and indirect sources of funds to credit markets Selected Sector Tables 5. Households 6. Nonfinancial business 7. Commercial banking subsectors 8. Rest of the world Selected Transaction Tables 9. U.S. Government securities 10. Private securities and mortgages 11. Mortgages, by type 12. Other loans, including open-market paper 1974 Year-end Assets and Liabilities Outstanding These estimates of 1974 asset and liability positions are based on the information that is reflected in the first-quarter 1975 flows that were published May 9, 1975. They are revisions of the February preliminary estimates in that they include a more complete set of quarterly source information. Further revisions later this year and next year will be based on annual benchmark information that is not yet available. The first two tables present in matrix form the full set of asset-debt relationships for all sectors. Following these are time series tables covering 1963-74 for selected sectors and types of claim that are of major interest or that do not appear separately in the first two tables. The estimates are statistically consistent with Flow of Funds Accounts^ 1965-1973, published September 1974, which contains a full set of time-series tables in outstandings. Inquiries on these data should be addressed to the Flow of Funds and Savings Section, Room 3222, Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, D.C., 20551. Tel.: (202) 452-3483. YEAR-END 1974 ALL SECTORS-ASSETS AND LIABILITIES 1 ALL SECTORS-ASSETS AND LIABILITIES ALL SECTORS- FINANCIAL ASSETS AND LIABILITIES (BILLIONS OF DOLLARS) 1 PRIVATE HOUSEHOLDS A 1 TOTAL FINANCIAL ASSETS 2 TOTAL LIABILITIES 3 4 5 6 3 2 1 2182.6 5 NONFINANCIAL BUSINESS STATE + LOCAL GOVERNMENTS A L L 1039.7 A L A A 237.2 * 1.8 174.2 174.2 11 TIME AND SAVINGS ACCOUNTS AT COMMERCIAL BANKS 12 13 AT SAVINGS INSTITUTIONS 695.3 325.7 369 .6 14 LIFE INSURANCE RESERVES 15 PENSION FUND RESERVES 16 INTERBANK CLAIRS 157.5 313.8 17 CORPORATE SHARES 523.2 18 CREDIT MARKET INSTRUMENTS 19 U.S.GOVT.SECURITIES 20 S.♦L.GOVT. SECURITIES CORP.AND FGN. BONDS 21 HOME MORTGAGES 22 23 OTHER MORTGAGES CONSUMER CREDIT 24 25 BANK LOANS N.E.C. 26 OTHER LOANS 279 .0 120.8 60.3 54 .5 10 .0 29.3 14.8 14.8 55.8 55.8 426.7 1 2 8.2 3 4 5 6 2.3 * 1.9 7 8 9 10 8.1 13 .0 244.8 244.8 L 111.6 223.9 1963.0 219.9 GOVERNMENT L 47.1 7 DEMAND DEP. AND CURRENCY 8 PVT. DOMESTIC U.S. GOVERNMENT 9 FOREIGN 10 12 11 1 OF THE WORLD TOTAL 60LD OFFICIAL FOREIGN EXCHANGE IMF POSITION TREASURY CURRENCY 8.1 13.0 50.1 50.1 28.1 28.1 19.4 19.4 773.5 403.9 369 .6 •5 .5 523.2 678.3 411.5 25.9 190.1 21.8 29.0 4.6 4.6 82.9 8.9 4.7 768.1 4.1 227.1 4.4 246.2 36.0 31.0 2.8 210.0 203.3 2.2 34.0 35.3 210.5 75.6 397.8 160.7 67.8 54.5 12.1 29.3 34.0 6.7 39.4 11.0 7.3 6.8 17 18.1 1656.4 207.4 227.1 416.0 272.1 190.1 232.3 111.4 4.6 4.6 72 .9 58 .4 84.0 3.5 18.6 11.0 17.8 47.6 .3 .3 20.0 230.7 21.0 4.3 9.8 4.3 261.7 186 .7 20.0 247.9 27.7 ALL SECTORS—ASSETS AND LIABILITIES 62.1 367.1 18 365.9 19 20 21 1.2 22 23 24 25 26 27 28 29 .2 •2 11.0 261.7 151.7 72.7 * 4.4 6.1 11.0 11.0 35.1 11 12 13 7.6 14 38.2 15 16 157.5 313.8 4.1 27 SECURITY CREDIT 28 TO BRKRS. AND DEALERS 29 TO OTHERS 30 TAXES PAYABLE 31 TRADE CREDIT 32 MISCELLANEOUS 10 9 8 SECTORS 2867.9 1C5.1 580.1 703.4 7 6 DOMESTIC A L SECTION 1 4 9.4 43.6 12.0 139.2 30 3.5 31 2.1 32 15.8 5.2 5.2 ALL SECTORS-ASSETS AND LIABILITIES ALL SECTORS- FINANCIAL ASSETS AND LIABILITIES (BILLIONS OF DOLLARS) 14 13 SECTION 2 16 15 17 18 19 FED. SPONS. CR. AGENCIES A L TOTAL L A 1 TOTAL FINANCIAL ASSETS 2 TOTAL LIABILITIES 3 4 5 6 GOLD OFFICIAL FOREIGN EXCHANGE IMF POSITION TREASURY CURRENCY 7 DEMAND DEP. AND CURRENCY 8 PVT. DOMESTIC 9 U.S. GOVERNMENT FOREIGN 10 11 TIME AND SAVINGS ACCOUNTS 12 AT COMMERCIAL BANKS 13 AT SAVINGS INSTITUTIONS 14 LIFE INSURANCE RESERVES 15 PENSION FUND RESERVES 16 INTERBANK CLAIMS 17 CORPORATE SHARES 2184.7 102.7 22 COMMERCIAL BANKS L PVT. NONBANK FINANCE A L 839.6 1132.1 110.3 21.4 21.4 304.5 283.4 8.1 13.0 1.4 •8 .7 794.8 424.6 370.2 61.9 149.9 275.6 61.9 .3 •3 71.9 68.1 3.3 .5 35.8 244.5 90.3 99.9 3.8 41.3 3.2 1.6 41.3 20.6 44.9 63.1 34.2 27 SECURITY CREDIT 28 TO BRKRS. AND DEALERS TO OTHERS 29 20.6 9.4 11.2 14.3 14.3 30 TAXES PAYABLE 31 TRADE CREDIT 32 MISCELLANEOUS 7.1 86.1 .7 232.6 215.3 4.8 12.5 20.6 20.6 424.6 424.6 1.4 .8 .7 37.5 59.6 370.2 370.2 24.5 86.7 85.7 717.9 89.8 101.3 7.3 74.4 56.9 84.0 295.0 9.2 1.0 26.2 4.3 10.9 11.0 13.4 9.4 4.0 .4 3.2 188.8 .5 .5 .7 91.0 90.3 2.5 9.9 24 25 .5 4700.2 1 2 61.1 * 1.8 9.7 * 1.8 8.2 3 4 5 6 287.3 266.2 8.1 13.0 304.5 283.4 8.1 13.0 794.8 424.6 370.2 794.8 424.6 370.2 11 12 13 157.5 313.8 61.9 157.5 313.8 61.9 14 15 16 -1.4 17.2 17.2 ♦ 7 8 9 10 155.7 35.8 697.6 35.8 17 127.3 2352.0 456.3 207.4 287.1 420.3 273.7 190.1 295.0 222.1 2352.0 456.3 207.4 287.1 420.3 273.7 190.1 295.0 222.1 18 19 20 21 22 23 24 25 26 14.3 14.3 25.4 14.3 11.2 25.4 14.3 11.2 27 28 29 1.9 20.0 283.3 321.5 23.2 263 .4 357.8 3.1 30 -19.9 31 36.2 32 65.1 7.1 37.1 3.2 1.6 34.0 51.4 7.1 86.6 DISCR. A 904.1 57.9 38.4 221.8 288.1 160.8 72.1 .9 47.5 ALL SECTORS L A 5388.0 149.9 275 .6 2.3 23 1066.7 795.4 11.7 * -.1 9.7 156 .4 21 A 110.2 11.7 * -.1 9.7 1808 .6 237.1 139.7 229.1 403.8 238.3 156.2 295.0 109.5 18 CREDIT MARKET INSTRUMENTS 19 U.S.GOVT.SECURITIES S.+L.GOVT. SECURITIES 20 21 CORP.AND FGN. BONDS 22 HOME MORTGAGES OTHER MORTGAGES 23 24 CONSUMER CREDIT BANK LOANS N.E.C. 25 26 OTHER LOANS MONETARY AUTHORITY A L 100.9 2073.3 20 SECTORS FINANCIAL 7.1 36.1 91.8 YEAR-END 1974 PRIVATE NONBANK FINANCE 2 2 1 A 3 DEMAND DEP. AND CURRENCY 4 TIME AND SAVINGS ACCOUNTS 5 AT COMMERCIAL BANKS 6 AT SAVINGS INSTITUTIONS L 9 CORPORATE SHARES 19 SECURITY CREDIT 20 TO BRKRS. AND DEALERS 21 TO OTHERS 22 TAXES PAYABLE 23 TRADE CREDIT 24 MISCELLANEOUS A 4.0 243.2 370.2 243.2 L A 27.6 102.4 1.0 •B .8 9 155.7 35.8 127.3 65.1 7.1 37.1 3.2 1.6 11 99.5 1.0 .7 27.6 99.5 .7 27.6 L A 118.6 118.6 247.2 4.2 2.0 149.9 63.1 4.2 278.6 26.1 28.3 201.9 47.8 2.8 3.2 3.2 21.8 34.0 51.4 25.9 2.8 101.9 6.9 .9 14.1 44.9 30.5 1.6 1.0 12 PRIVATE PENSION FUNDS 255.5 27.6 149.9 275.6 904.1 57.9 38.4 221.8 288.1 160.8 72.1 10 LIFE INSURANCE COMPANIES A L CREDIT UNIONS 110.3 370.2 8 7 6 L 277.6 1066.7 20.6 1.4 •8 .7 5 MUTUAL SAVINGS BANKS 296.1 1132.1 7 LIFE INSURANCE RESERVES 8 PENSION FUND RESERVES 10 CREDIT MARKET INSTRUMENTS U.S.GOVT.SECURITIES 11 12 S.+L.GOVT.SECURITIES 13 CORP.AND FGN. BONDS 14 HOME MORTGAGES 15 OTHER MORTGAGES 16 CONSUMER CREDIT 17 BANK LOANS N.E.C. 18 OTHER LOANS SECTION 1 4 3 SAVINGS AND LOAN ASSOCIATIONS L A TOTAL 1 TOTAL ASSETS 2 TOTAL LIABILITIES PRIVATE NONBANK FINANCE 2 PRIVATE NONBANK FINANCE - ASSETS AND LIABILITIES (BILLIONS OF DOLLARS) 3 4 5 6 118.6 22.2 65.9 9 42.7 5.5 10 11 12 13 14 15 16 17 18 34.5 2.7 26 .3 14.3 14.3 19 20 21 7.1 1.9 7.1 36.1 91.8 7 8 218 .4 4.3 3.7 97.9 22.4 63.9 22.1 2.9 1 2 22 23 24 .8 .3 5.8 13.5 2.9 2.6 12.9 PRIVATE NONBANK FINANCE 33.4 5.7 PRIVATE NONBANK FINANCE PRIVATE NONBANK FINANCE - ASSETS AND LIABILITIES (BILLIONS OF DOLLARS) 13 14 STATE AND LOCAL GOVTS. RETIREMENT FUNDS A L 1 TOTAL ASSETS 2 TOTAL LIABILITIES 3 DEMAND DEP. AND CURRENCY 4 TIME AND SAVINGS ACCOUNTS 5 AT COMMERCIAL BANKS 6 AT SAVINGS INSTITUTIONS 93.9 9 CORPORATE SHARES 18 FINANCE COMPANIES A L 68.3 92.6 50.0 1.6 .9 17 OTHER INSURANCE COMPANIES A L 93.9 7 LIFE INSURANCE RESERVES 8 PENSION FUND RESERVES 10 CREDIT MARKET INSTRUMENTS U.S.GOVT.SECURITIES 11 S•*L.GOVT.SECURITIES 12 CORP.ANO FGN. BONDS 13 14 HOME MORTGAGES OTHER MORTGAGES 15 16 CONSUMER CREDIT 17 BANK LOANS N.E.C. OTHER LOANS 18 SECTION 2 16 15 19 REAL ESTATE INVESTMENT TRUSTS A L 21 22 OPEN-END INVESTMENT COMPANIES A L 17.2 35.8 3.7 23 24 SECURITY BROKERS AND DEALERS A L 16.4 35.8 15.9 83.6 1.0 14.3 1.1 1 2 3 4 5 6 7 B 93.9 22.1 12.5 70 .8 5.2 •8 57.8 47.1 3.7 32.2 11.0 7.0 .2 26.3 88.9 83.2 15.8 35.0 10.8 4.4 11.5 15.9 8.4 1.2 2.1 3.8 35.8 2.5 9 5.6 2.3 .7 2.7 10 11 12 13 14 15 16 17 IB 1.6 45.6 32.5 11.2 1.0 19.5 28.7 19 SECURITY CREDIT TO BRKRS. AND DEALERS 20 TO OTHERS A 21 22 TAXES PAYABLE 23 TRADE CREDIT 24 MISCELLANEOUS 20 3.4 7.1 14.3 14.3 19 £0 21 * 22 >3 >4 7.1 •3 •4 7.1 49.7 1.3 MAY 1975 CREDIT MARKET DEBT 3 CREDIT MARKET DEBT 3 SUMMARY OF CREDIT MARKET DEBT OUTSTANDING (BILLIONS OF DOLLARS, YEAR-END OUTSTANDINGS YEAR-END OUTSTANDINGS 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 CREDIT MARKET DEBT OWED BY NONFINANCIAL SECTORS TOTAL CREDIT MARKET DEBT OUTSTANDING 2107.5 OWED BY NONFINANCIAL SECTORS 1 900.6 967.5 1037.6 1102.8 1181.6 1276.9 1363.9 1456.7 1592.3 1751.4 1930.4 2 3 4 254.1 251.0 3.2 260.4 256.4 4.0 262.2 257.7 4.5 265.8 260.0 5.8 278.8 268.9 9.9 292.2 279.2 13.0 288.6 278.0 10.6 301.4 290.8 10.5 327.4 316.9 10.5 344.7 330.8 13.9 354.4 338.5 15.9 5 6 7 8 615.4 445.3 86.9 88.4 671.0 481.4 92.9 92.4 736.5 519.8 100.3 97.8 797.1 558.3 105.9 108.0 860.0 602.7 113.7 122.7 939.4 652.0 123.2 135.6 1027.8 701.6 133.1 147.6 1104.7 758.3 144.4 167.3 1209.1 840.8 162.0 186.1 1345.8 934.6 176.3 198.3 1507.5 1029.7 190.0 207.5 9 10 11 12 13 269.9 177.9 29.0 46.2 16.8 296.1 193.5 33.6 50.0 18.9 321.7 208.9 37.2 54.5 21.2 344.4 220.6 40.3 60.1 23.3 366.3 232.1 43.9 64.8 25.5 393.2 247.1 47.3 71.3 27.5 420.9 262.8 52.0 76.6 29.5 446.6 275.6 57.8 81.9 31.2 492.8 301.4 66.6 91.9 32.9 560.0 341.0 76.9 106.7 35.A 632.2 384.4 85.3 123.7 38.8 688.1 416.0 93.1 135.2 43.8 14 15 16 17 18 170.1 65.9 71.7 1.6 30.8 189.6 73.1 80.3 1.9 34.4 216.8 86.7 89.9 1.7 38.5 238.8 97.5 96.2 2.7 42.3 257.3 107.3 100.8 4.3 44.9 287.4 120.9 110.8 6.1 49.6 326.2 136.5 121.1 9.1 59.5 346.4 143.0 127.2 12.1 64.1 368.3 150.8 138.4 10.9 68.2 411.1 169.4 157.6 10.4 73.8 477.8 205.2 180.5 10.0 82.1 533.8 232.3 190.1 17.2 94.2 OTHER PRIVATE DOM. N-F DEBT BANK LOANS N.E.C. CONSUMER CREDIT OPEN-MARKET PAPER OTHER 14 15 16 17 18 19 20 21 615.4 89.1 276.9 671.0 95.4 304.9 736.5 103.1 333.2 797.1 109.3 354.7 860.0 117.3 374.0 939.4 127.2 404.3 1027.8 137.9 43 5.9 1104.7 149.2 459.3 1209.1 167.0 498.8 1345.8 181.2 562.0 1507.5 193.5 634.8 1656.4 210.0 678.3 BY BORROWING SECTOR: STATE + LOCAL GOVERNMENTS HOUSEHOLDS 19 20 21 22 23 24 25 249.3 26.4 35.1 187.8 270.8 29.0 40.4 201.3 300.3 32.3 46.2 221.8 333.1 35.8 51.6 245.7 368.7 39 .2 56.5 272.9 407.9 41.9 62.1 303.9 454.0 45.1 69.5 339.5 496.2 48.3 74.7 373.2 543.3 52.0 83.4 407.8 602.5 56.9 93.8 451.8 679.2 64.5 103.1 511.6 768.1 72.3 110.3 585.4 26 27 28 29 30 31.1 8.2 4.7 2.2 16.0 36.0 9.2 6.7 2.6 17.5 38.9 10.2 7.2 2.5 19.0 39.9 10.5 7.1 2.5 19.8 42.8 10.8 6.8 3.0 22.3 45.3 11.7 6.3 2.9 24.4 47.5 11.7 6.1 3.2 26.5 50.6 13.2 5.7 4.0 27.7 55.8 14.7 7.3 4.3 29.5 61.0 15.9 10.2 3.2 31.7 68.5 16.6 13.0 5.5 33.4 1 367.1 U.S. GOVERNMENT 351.5 PUBLIC DEBT SECURITIES AGENCY ISSUES + MORTGAGES 15.6 2 3 4 1656.4 PRIVATE DOMESTIC N-F SECTORS 1122.6 DEBT CAPITAL INSTRUMENTS 207.4 S. ♦ L. GOVERNMENT SECS. CORPORATE BONDS 227.1 5 6 7 8 MORTGAGES HOME MORTGAGES OTHER RESIDENTIAL COMMERCIAL FARM NONFINANCIAL BUSINESS FARM NONFARM NONCORPORATE CORPORATE 84.0 FOREIGN DEBT TO U.S. BONDS 18.6 17.8 BANK LOANS N.E.C. 12.5 OPEN-MARKET PAPER 35.1 U.S. GOVT. LOANS 9 10 11 12 13 22 23 24 25 26 27 28 29 30 CREDIT MARKET DEBT OWED BY FINANCIAL SECTORS CREDIT MARKET DEBT OWED BY FINANCIAL SECTORS BY TYPE: 91.0 SPONSORED CREDIT AGENCIES 90.3 U.S. GOVT. SECURITIES (1) .7 LOANS FROM U.S. GOVT. 1 46.5 52.6 62.7 70.7 69.6 81.6 109.6 117.5 131.2 158.0 209.1 2 3 4 11.5 11.5 12.1 11.9 •1 14.2 13.8 •3 19.0 18.9 .1 18.4 18.4 ♦ 21.9 21.6 .3 30.6 30.6 38.9 38.9 - 43.2 43.2 49.4 49.4 68.9 68.9 5 6 7 8 9 10 35.0 12.4 2.5 9.5 5.8 4.8 40.6 15.0 2.2 10.0 7.9 5.3 48.5 17.7 2.2 12.4 10.2 6.0 51.7 18.6 1.3 11.3 13.5 6.9 51.3 19.9 2.3 9.3 15.4 4.4 59.7 21.0 2.6 11.9 19.0 5.3 78.9 22.5 2.9 14.6 29.7 9.3 78.7 25.6 3.6 14.1 24.7 10.6 88.0 30.7 5.7 17.1 26.6 7.9 108.6 37.6 7.4 24.1 31.5 8.0 140.2 39.9 6.2 37.6 41.3 15.1 153.5 41.3 4.8 44.9 40.6 21.8 11 12 46.5 11.5 52.6 12.1 62.7 14.2 70.7 19.0 69.6 18.4 81.6 21.9 109.6 30.6 117.5 38.9 131.2 43.2 158.0 49.4 209.1 68.9 244.5 91.0 TOTALS OWED, BY SECTOR SPONSORED CREDIT AGENCIES 11 12 13 14 15 16 17 18 19 35.0 •2 * 7.6 27.2 - 40.6 1.4 .1 7.8 31.2 - 48.5 3.3 .1 8.7 36.5 - 51.7 3.2 •1 8.7 39.6 - 51.3 3.3 .1 7.0 40.8 - 59.7 4.6 .2 8.2 46.5 •3 78.9 6.0 4.2 .3 12.3 55.3 •8 78.7 2.8 2.3 .4 14.1 56.9 2.1 88.0 4.7 2.0 2.1 14.1 61.1 4.1 108.6 7.6 2.6 2.9 16.0 70.7 8.8 140.2 10.9 4.9 8.0 22.0 80.1 14.4 153.5 8.0 7.3 10.9 28.3 83.2 15.9 PVT. FINANCIAL SECTORS COMMERCIAL BANKS BANK AFFILIATES FOREIGN BANKING AGENCIES SAVINGS + LOAN ASSNS. FINANCE COMPANIES REITS 13 14 15 16 17 18 19 (1, 244.5 PVT. FINANCIAL SECTORS CORPORATE BONDS MORTGAGES BANK LOANS N.E.C. OPEN-MARKET PAPER LOANS FROM FHLB»S 1 2 3 4 5 6 7 8 9 10 ISSUED BY GOVT. SPONSORED CREDIT AGENCIES. MAY 1975 CREDIT MARKET SUPPLY OF FUNDS CREDIT MARKET SUPPLY OF FUNDS 4 4 DIRECT AND INDIRECT SOURCES OF FUNDS TO CREDIT MARKETS (BILLIONS OF DOLLARS) YEAR-END OUTSTANDINGS 1 YEAR-END OUTSTANDINGS 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 900.6 967.5 1037.6 1102.8 1181.6 1276.9 1363.9 1456.7 1592.3 1751.4 1930.4 1974 TOTAL CREDIT MARKET DEBT CLAIMS 2107.5 AGAINST NONFINANCIAL SECTORS 1 BY PUBLIC AGENCIES + FOREIGN 2 3 4 5 6 96.3 48.7 7.2 4.8 35.6 104.1 52.2 7.1 5.3 39.5 112.8 55.9 7.4 6.0 43.4 124.2 59.3 10.2 6.9 47.7 135.2 66.1 12.3 4.4 52.4 146.8 69.5 15.1 5.3 56.9 161.5 70.2 19.7 9.3 62.2 190.0 86.1 25.5 10.6 67.8 231.3 119.9 31.1 7.9 72.4 250.3 128.3 36.3 8.0 77.6 283.2 139.3 43.9 15.1 84.8 7 8 9 10 32.2 15.3 33.8 15.0 34.9 16.0 37.2 15.9 37.7 18.3 41.0 15.9 42.0 23.4 44.5 14.3 46.6 23.3 49.3 16.1 51.1 26.5 53.0 16.1 54.0 35.4 57.2 14.9 56.7 45.4 62.2 25.7 59.2 48.6 71.1 52.4 62.2 55.6 71.3 61.1 65.2 75.9 80.6 61.5 11 11.5 12.1 14.2 19.0 18.4 21.9 30.6 38.9 43.2 49.4 68.9 332.3 TOTAL HELD 147.9 U.S. GOVERNMENT SECURITIES 57.7 RESIDENTIAL MORTGAGES 21.8 FHLB ADVANCES TO S+L*S 104.8 OTHER LOANS + SECURITIES BY AGENCY: 72.7 U.S. GOVERNMENT 99.9 SPONSORED CREDIT AGENCIES 86.7 MONETARY AUTHORITIES 72.9 FOREIGN 91.0 AGENCY DEBT NOT IN LINE 1 2 3 4 5 6 7 8 9 10 11 PRIVATE DOMESTIC HOLDINGS 12 13 14 15 16 17 18 815.8 215.1 86.9 95.9 201.5 221.2 4.8 875.5 218.3 92.9 100.7 221.9 247.1 5.3 938.9 218.2 100.3 107.3 240.5 278.7 6.0 997.6 223.6 105.9 117.3 252.5 305.3 6.9 1064.8 229.3 113.7 132.5 265.4 328.2 4.4 1152.0 242.6 123.2 146.4 281.0 364.0 5.3 1233.1 247.4 133.1 158.9 296.7 406.3 9.3 1305.5 252.7 144.4 178.8 309.5 430.8 10.6 1404.1 249.2 162.0 198.5 338.3 464.1 7.9 1550.5 264.4 176.3 211.6 382.9 523.3 8.0 1716.2 282.8 190.0 221.8 427.0 609.8 15.1 1866.3 TOTAL PRIVATE HOLDINGS 308.4 U.S. GOVERNMENT SECURITIES 207.4 STATE ♦ LOCAL OBLIGATIONS 242.2 CORPORATE + FOREIGN BONDS 452.5 RESIDENTIAL MORTGAGES 677.6 OTHER MORTGAGES ♦ LOANS LESS: FHLB ADVANCES 21.8 12 13 14 15 16 17 18 PRIVATE FINANCIAL INTERMEDIATION CREDIT MARKET CLAIMS HELD BY PRIVATE FINAN. INSTITUTIONS COMMERCIAL BANKING SAVINGS INSTITUTIONS INSURANCE + PENSION FUNOS OTHER FINANCE 19 20 21 22 23 632.6 249.5 152.5 192.7 37.9 689.5 272.2 168.7 205.5 43.1 752.3 300.9 183.0 219.1 49.3 796.9 317.3 191.3 234.6 53.8 860.3 353.1 206.2 247.5 53.5 935.5 391.9 221.7 261.6 60.4 991.9 410.7 236.0 274.3 70.9 1066.6 445.7 252.8 291.5 76.6 1177.6 496.3 294.5 304.9 81.9 1331.0 566.9 343.8 322.6 97.7 1489.8 653.5 378.9 344.7 112.8 1621.9 717.9 406.3 379.0 118.7 24 25 26 632.6 366.6 35.0 689.5 401.5 40.6 752.3 439.9 48.5 796.9 461.2 51.7 860.3 511.0 51.3 935.5 556.9 59.7 991.9 559.6 78.9 1066.6 622.8 78.7 1177.6 713.1 88.0 1331.0 810.7 108.6 1489.8 895.4 140.2 1621.9 SOURCES OF FUNDS 967.4 PRIVATE DOMESTIC DEPOSITS 153.5 CREDIT MARKET DEBT 27 28 29 30 31 231.0 11.8 6.5 159.6 53.0 247.4 14.3 6.5 170.5 56.0 264.0 15.0 5.5 181.5 61.9 284.1 18.7 5.0 195.7 64.6 298.0 21.0 5.2 206.5 65.4 318.9 23.6 5.0 216.9 73.5 353.4 32.9 5.1 228.9 86.6 365.2 24.5 7.9 242.3 90.5 376.5 21.2 10.2 249.8 95.3 411.7 26.4 10.9 260.1 114.3 -.54.2 33.0 9.9 281.4 130.0 32 33 34 35 36 37 218.2 109.4 38.1 11.2 4.6 54.9 226.6 110.4 40.5 11.9 6.9 56.8 235.1 113.3 43.1 13.5 8.4 56.7 252.4 121.7 45.7 15.2 10.7 59.0 255.7 120.3 43.1 19.0 12.6 60.7 276.2 128.3 42.9 23.7 18.4 62.8 320.1 145.3 51.2 30.3 28.6 64.7 317.5 136.3 49.9 41.0 2 4.2 66.1 314.5 122.3 50.5 50.5 23.6 67.6 328.1 123.9 52.7 55.6 27.5 68.4 366.5 141.7 57.1 56.8 38.8 72.1 397.8 CREDIT MARKET CLAIMS U.S. GOVERNMENT SECURITIES 160.7 67.8 STATE ♦ LOCAL OBLIGATIONS 54.5 CORPORATE ♦ FOREIGN BONDS 39.4 COMMERCIAL PAPER 75.4 OTHER 32 33 34 35 36 37 38 39 40 41 42 400.1 251.0 9.2 99.2 142.7 436.6 280.1 11.4 110.2 158.4 477.1 312.8 15.0 126.2 171.6 500.4 332.0 14.8 138.3 178.9 552.3 371.2 19.1 156.6 195.5 600.6 405.0 22.6 174.1 208.3 606.1 402.8 8.9 177.6 216.3 672.8 459.0 23.9 201.7 233.3 766.6 540.0 31.6 234.7 273.7 868.5 625.3 40.3 265.3 319.6 957.2 701.5 58.9 294.8 347.8 1035.5 DEPOSITS + CURRENCY 773.5 TIME ♦ SAVINGS ACCOUNTS 82.5 LARGE NEGOTIABLE CD»S 321.5 OTHER AT COMMERCIAL BANKS 369.6 AT SAVINGS INSTITUTIONS 38 39 40 41 42 43 44 45 149.0 115.6 33.4 156.5 121.4 35.1 164.3 127.1 37.2 168.3 129.2 39.2 181.1 139.8 41.3 195.6 151.9 43.7 203.3 156.7 46.6 213.8 163.8 50.0 226.6 173.1 53.4 243.3 185.4 57.9 255.7 193.9 61.8 46 618.2 663.2 712.2 752.7 808.1 876.8 926.2 990.4 1081.1 1196.6 1323.7 47 48 49 10.7 77.5 26.8 10.8 78.8 30.2 10.9 80.1 30.9 11.3 79.9 33.0 11.4 80.8 37.0 11.5 81.2 39.7 11.8 80.4 47.8 13.0 81.7 50.2 14.5 83.9 73.6 14.3 85.8 87.5 14.7 86.8 94.5 501.1 46.6 4.8 315.3 134.4 OTHER SOURCES FOREIGN FUNDS TREASURY BALANCES INSURANCE ♦ PENSION RES. OTHER» NET 19 20 21 22 23 24 25 26 27 28 29 30 31 PRIVATE DOMESTIC NONFINANCIAL INVESTORS MONEY DEMAND DEPOSITS CURRENCY 43 44 45 TOTAL OF CREDIT MARKET INSTRU1433.3 MENTS» DEPOSITS ♦ CURRENCY 46 262.0 193.9 68.1 15.8 PUBLIC SUPPORT RATE (Z) 47 86.9 PVT. FINAN. INTERMEDIATION (Z) 48 119.5 TOTAL FOREIGN FUNDS 49 CORPORATE EQUITIES NOT INCLUDEO ABOVE 1 2 3 597.0 25.2 571.8 662.1 29.1 633.0 749.0 35.2 713.7 682.7 34.8 647.8 869.5 44.7 824.8 1027.6 52.7 975.0 907.6 48.3 859.4 900.6 47.6 852.9 1046.1 56.7 989.5 1223.1 59.8 1163.2 968.0 46. 5 921.4 697.6 TOTAL MARKET VALUE 35.8 MUTUAL FUND SHARES 661.9 OTHER EQUITIES 1 2 3 4 5 69.7 527.3 81.7 580.3 96.9 652.1 93.1 589.6 120.3 749.2 143.0 884.6 139.5 768.1 148.3 752.2 191.0 855.2 236.1 986.9 198.7 769.2 156.4 ACQ. BY FINANCIAL INSTITUTIONS 541.3 OTHER HOLDINGS 4 5 MAY 1975 HOUSEHOLDS HOUSEHOLDS 5 5 SECTOR STATEMENTS OF FINANCIAL ASSETS AND LIABILITIES (BILLIONS OF DOLLARS) YEAR-END OUTSTANDINGS YEAR-END OUTSTANDINGS 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 HOUSEHOLDS* PERSONAL TRUSTS* AND NONPROFIT ORGANIZATIONS 1 1218.9 1329.4 1464.4 1460.0 1695.0 1910.3 1853.7 1918.9 2134.5 2405.8 2302.3 2182.6 TOTAL FINANCIAL ASSETS 2 3 468.4 81.7 507.0 86.5 547.8 94.2 587.9 98.1 635.8 109.4 690.1 121.7 73 2.3 123.3 786.8 134.5 859.2 145.5 952.8 157.3 1062.2 170.2 1148.5 174.2 4 5 6 232.1 89.4 142.7 259.5 101.1 158.4 287.5 115.9 171.6 306.8 127.9 178.9 341.5 146.0 195.5 371.7 163.4 208.3 377.8 161.5 216.3 422.3 189.0 233.3 492.5 218.8 273.7 567.9 248.3 319.6 635.6 287.8 347.8 695.3 32 5.7 369.6 TIME + SAVINGS ACCOUNTS AT COMMERCIAL BANKS AT SAVINGS INSTITUTIONS 4 5 6 7 8 9 10 11 12 154.5 76.5 48.0 12.7 12.9 2.9 160.9 79.3 49.0 12.5 14.2 3.7 166.0 81.8 49.6 12.4 15.2 4.6 183.0 89.5 50.2 13.2 17.1 9.0 184.9 91.0 51.1 12.2 17.4 10.3 196.7 96.6 51.5 20.1 14.7 10.2 231.1 109.4 51.1 31.7 13.6 13.0 230.0 99.7 51.4 22.7 9.9 15.7 221.2 85.3 53.8 10.2 10.3 11.0 227.6 85.9 57.1 10.9 7.0 10.9 256.4 105.3 59.8 17.7 6.7 21.1 279.0 120.8 62.9 24.0 2.0 31.8 CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES SAVINGS BONDS SHORT-TERM MARKETABLE OTHER DIRECT AGENCY ISSUES 7 8 9 10 11 12 13 14 15 16 32.0 11.2 •1 34.8 34.6 11.9 * 35.1 36.4 13.5 ♦ 34.3 40.0 15.2 2.8 35.7 37.7 19.0 •6 36.6 37.0 23.7 1.4 38.1 46.1 30.3 6.1 39.2 45.4 41.0 4.6 39.3 45.2 50.5 .7 39.5 46.2 55.6 2.2 37.6 50.5 56.8 5.7 38.1 60.3 54.5 4.1 39.3 17 18 19 514.8 25.2 489.6 566.5 29.1 537.4 637.5 35.2 602.2 576.9 34.8 542.1 733.7 44.7 689.0 865.1 52.7 812.4 750.0 48.3 701.7 733.6 47.6 685.9 833.7 56.7 777.0 959.1 59.8 899.3 744.4 46.5 697.9 523.2 35.8 487.4 CORPORATE EQUITIES INVESTMENT COMPANY SHARES OTHER CORPORATE SHARES 17 18 19 20 21 96.6 122.7 101.1 137.5 105.9 153.8 110.6 163.6 115.4 185.2 120.0 206.4 125.0 217.4 130.3 237.6 136.4 271.6 143.0 314.5 150.3 307.8 157.5 313.8 LIFE INSURANCE RESERVES PENSION FUND RESERVES 20 21 22 23 1.5 14.8 1.7 15.7 2.5 17.0 2.7 18.2 4.9 19.8 7.0 21.6 5.2 23.8 4.4 26.3 4.9 28.7 5.0 31.3 4.8 32.8 4.6 35.1 SECURITY CREDIT MISCELLANEOUS ASSETS 22 23 24 290.9 319.1 348.7 370.7 394.4 428.4 457.5 480.0 522.8 591.9 661.1 703.4 TOTAL LIABILITIES 25 26 27 28 29 276.9 175.1 12.0 55.5 16.3 304.9 191.1 13.1 62.7 17.6 333.2 206.3 14.2 70.9 19.0 354.7 219.0 15.5 76.2 20.0 374.0 229.4 16.7 79.4 21.4 404.3 244.0 17.8 87.7 23.0 435.9 260.1 19.1 97.1 24.0 459.3 272.5 20.5 102.1 25.1 498.8 296.4 21.7 111.3 27.1 562.0 334.8 23.1 127.3 30.2 634.8 379.0 24.5 147.4 33.0 678.3 411.5 25.9 156.1 34.0 30 31 8.8 9.2 10.3 10.1 11.7 11.0 12.0 11.9 13.9 13.3 16.4 15.3 17.3 18.3 18.2 20.9 20.1 22.3 22.9 23.6 24.7 26.1 21.8 29.0 32 33 8.6 2.5 8.4 2.8 9.1 3.0 9.0 3.3 12.7 3.7 15.6 4.2 12.2 4.7 10.4 5.2 13.1 5.6 17.7 6.2 13.1 6.8 11.0 7.3 34 2.9 3.0 3.3 3.7 3.9 4.3 4.7 5.1 5.4 6.0 6.4 6.8 DEP. + CR. MKT. INSTR. (1) DEMAND DEPOSITS ♦ CURRENCY S. + L. OBLIGATIONS CORPORATE ♦ FGN. BONDS COMMERCIAL PAPER MORTGAGES CREDIT MARKET INSTRUMENTS HOME MORTGAGES OTHER MORTGAGES INSTALMENT CONS. CREDIT OTHER CONSUMER CREDIT BANK LOANS N.E.C. OTHER LOANS SECURITY CREDIT TRADE CREDIT DEFERRED AND UNPAID LIFE INSURANCE PREMIUMS (1) EXCLUDES CORPORATE EQUITIES 1 2 3 13 14 15 16 24 25 26 27 28 29 30 31 32 33 34 MAY 1975 BUSINESS 6 BUSINESS 6 SECTOR STATEMENTS OF FINANCIAL ASSETS AND LIABILITIES (BILLIONS OF DOLLARS) YEAR-END OUTSTANDINGS 1963 1964 YEAR-END OUTSTANDINGS 1965 1966 1967 1968 NONFINANCIAL 1969 1970 1971 1972 1973 1974 BUSINESS - TOTAL 1 2 3 4 5 6 252.3 46.5 10.8 43.0 98.8 53.2 268.1 47.0 10.8 45.3 107.0 58.0 290.9 47.4 13.1 45.9 121.0 63.5 306.3 47.7 11.7 44.4 133.0 69.4 325.9 49.3 13.8 46.2 141.3 75.3 358.8 51.2 14.2 52.6 160.0 80.8 391.8 53.8 11.8 55.7 182.7 87.9 409.3 54.8 13.5 53.9 191.1 96.0 437.7 55.5 17.1 61.7 196.7 106.7 476.1 55.6 20.2 65.3 216.8 118.2 528.0 55.4 21.5 74.5 240.9 135.8 7 8 9 10 11 12 13 14 360.1 249.3 88.4 2.7 80.1 57.1 21.0 389.4 270.8 92.4 2.4 89.5 62.7 23.7 433.8 300.3 97.8 2.6 98.6 74.9 26.4 477.3 333.1 108.0 1.6 108.3 85.5 29.7 518.0 368.7 122.7 2.7 117.5 93.4 32.4 578.3 407.9 135.6 3.2 128.2 104.5 36.4 643.6 454.0 147.6 2.7 139.0 119.1 45.6 692.2 496.2 167.3 3.1 150.6 124.8 50.5 746.9 543.3 .1 186.1 5.0 169.7 130.7 51.7 822.6 602.5 .6 198.3 6.2 195.9 146.5 55.0 925.1 679.2 2.4 207.5 5.3 223.4 180.5 60.1 15 16 85.4 25.5 92.3 26.4 104.6 29.0 114.8 29.4 123.7 25.6 141.1 29.3 162.6 27.0 171.3 24.7 176.6 27.0 192.6 27.5 212.6 33.3 580.1 TOTAL FINANCIAL ASSETS 55.8 DEMAND DEPOSITS + CURRENCY 28.1 TIME DEPOSITS 82.9 CREDIT MARKET INSTRUMENTS 261.7 TRADE CREDIT 151.7 MISCELLANEOUS ASSETS 1039.7 TOTAL LIABILITIES 768.1 CREDIT MARKET INSTRUMENTS 4.1 TAX-EXEMPT BONDS 227.1 CORPORATE BONDS 4.4 HOME MORTGAGES 246.2 OTHER MORTGAGES 210.5 BANK LOANS N.E.C. 75.6 OTHER LOANS 230.7 40.9 TRADE DEBT, NET OTHER LIABILITIES 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 FARM BUSINESS 1 2 3 4 5 7.8 5.7 2.1 1.9 •3 8.2 5.9 2.3 2.0 .3 8.5 6.0 2.5 2.2 .3 8.7 6.0 2.7 2.3 .4 9.1 6.1 3.0 2.6 .4 9.6 6.3 3.3 2.8 .5 10.2 6.4 3.8 3.2 .6 10.8 6.5 4.3 3.6 •6 11.5 6.6 4.8 4.1 .7 12.4 6.9 5.5 4.7 .8 13.1 6.9 6.2 5.3 .9 14.0 TOTAL FINANCIAL ASSETS 7.0 DEMAND DEPOSITS + CURRENCY 7.0 MISCELLANEOUS ASSETS 5.9 INSURANCE RECEIVABLES EQUITY IN SPONS. AGS. (1) 1.1 6 7 8 9 10 11 12 31.5 26.4 16.8 6.7 2.9 .8 2.1 34.5 29.0 18.9 7.0 3.1 .9 2.2 38.4 32.3 21.2 7.7 3.5 .9 2.5 42.8 35.8 23.3 8.6 3.9 .9 2.9 47.1 39.2 25.5 9.3 4.5 1.1 3.4 50.0 41.9 27.5 9.7 4.7 1.0 3.7 53.9 45.1 29.5 10.3 5.3 1.0 4.3 58.1 48.3 31.2 11.2 5.9 1.0 5.0 62.9 52.0 32.9 12.5 6.7 1.0 5.7 69.2 56.9 35.4 14.3 7.1 1.1 6.1 78.3 64.5 38.8 17.3 8.4 1.2 7.2 87.3 TOTAL LIABILITIES 72.3 CREDIT MARKET INSTRUMENTS 43.8 MORTGAGES 18.2 BANK LOANS N.E.C. 10.3 OTHER LOANS 1.5 U.S. GOVERNMENT 8.8 FICB 13 5.1 5.5 6.1 7.0 7.8 8.1 8.8 9.7 10.8 12.3 13.8 15.0 TRADE DEBT 1 2 3 4 5 6 7 8 9 10 11 12 13 NONFARM NONCORPORATE BUSINESS—Omitted NONFINANCIAL CORPORATE BUSINESS 1 2 3 4 5 6 7 8 222.2 64.2 28.3 10.8 16.7 3.8 4.6 237.0 65.1 28.6 10.8 15.2 3.7 6.3 .6 258.7 67.8 28.9 13.1 12.7 4.6 6.7 1.7 273.0 64.1 29.2 11.7 11.5 3.6 6.5 1.5 291.5 68.8 30.7 13.8 8.9 3.3 10.7 1.3 322.8 76.7 32.4 14.2 9.3 3.8 14.8 2.2 354.0 78.9 34.9 11.8 7.0 2.8 18.9 3.6 369.7 78.5 35.8 13.5 7.5 2.2 19.4 •2 395.8 89.1 36.3 17.1 9.7 3.2 21.8 1.1 431.2 93.1 36.2 20.2 7.2 4.2 22.6 2.7 480.2 100.1 35.9 21.5 5.4 4.0 27.9 5.3 529.5 TOTAL FINANCIAL ASSETS 113.3 LIQUID ASSETS 36.3 DEMAND DEPOSITS ♦ CURRENCY 28.1 TIME DEPOSITS 8.9 U.S. GOVERNMENT SECURITIES 4.7 STATE ♦ LOCAL OBLIGATIONS 32.8 COMMERCIAL PAPER 2.5 SECURITY R.P.’S 9 10 11 12 13 14 15 11.6 98.8 47.5 40.7 .7 6.0 •1 12.9 107.0 51.9 44.4 1.1 6.4 •1 13.2 121.0 56.9 49.2 .8 6.8 .1 13.7 133.0 62.3 53.9 .9 7.3 •1 14.0 141.3 67.4 58.3 1.1 8.0 .1 14.0 160.0 72.2 61.6 1.6 8.8 .2 14.3 182.7 78.1 66.6 1.3 9.9 .2 15.0 191.1 85.1 73.0 .9 10.8 .3 15.6 196.7 94.4 79.8 2.3 11.9 .4 17.1 216.8 104.2 86.0 4.1 13.7 .4 19.2 240.9 120.1 97.7 6.7 15.3 .4 20.3 261.7 134.2 110.4 6.5 16.9 .4 16 17 292.3 187.8 313.7 201.3 348.9 221.8 383.9 245.7 414.7 272.9 466.6 303.9 520.7 339.5 559.6 373.2 600.4 407.8 658.6 451.8 743.8 511.6 843.0 TOTAL LIABILITIES 58 5.4 CREDIT MARKET INSTRUMENTS 16 17 18 19 20 21 22 23 88.4 45.4 1.4 13.2 30.8 92.4 49.0 1.2 14.5 33.3 97.8 52.8 1.3 15.3 36.2 108.0 57.1 •8 16.1 40.2 122.7 61.6 1.4 16.9 43.3 135.6 67.2 1.6 17.5 48.1 147.6 71.8 1.4 18.7 51.8 167.3 77.0 1.5 20.2 55.3 .1 186.1 88.5 2.5 22.8 63.2 •6 198.3 104.1 3.1 25.8 75.2 2.4 207.5 120.2 2.7 28.3 89.3 4.1 227.1 131.2 2.2 30.5 98.4 TAX-EXEMPT BONDS (3) CORPORATE BONDS (2) MORTGAGES HOME MORTGAGES MULTI-FAMILY COMMERCIAL 18 19 20 21 22 23 24 25 26 27 45.2 1.3 6.3 1.2 50.1 1.5 7.0 1.4 60.7 1.2 7.6 1.7 68.9 2.2 7.5 2.0 75.5 3.7 7.2 2.2 85.1 5.3 9.0 1.7 97.0 8.0 13.3 1.8 102.5 10.6 13.7 2.1 106.9 9.1 15.6 1.6 120.0 8.6 18.4 1.8 150.7 8.2 20.4 2.2 180.8 14.2 2 4.8 3.2 BANK LOANS N.E.C. OPEN-MARKET PAPER FINANCE COMPANY LOANS U.S. GOVERNMENT LOANS 24 25 26 27 28 29 30 17.5 79.1 7.9 18.0 86.0 8.4 20.2 98.1 8.8 20.4 108.7 9.1 15.6 116.2 9.9 18.5 133.4 10.8 15.2 154.2 11.8 11.5 161.7 13.3 13.3 165.6 13.7 13.3 179.3 14.3 15.6 198.9 17.7 20.0 216.7 21.0 PROFIT TAXES PAYABLE TRADE DEBT MISCELLANEOUS LIABILITIES 28 29 30 31 19.7 21.0 22.8 24.2 25.1 26.6 28.5 29.3 31.2 37.5 42.0 45.0 MEMO: NET TRADE CREDIT f 32 33 34 150.5 37.3 133.9 160.2 41.1 145.1 173.6 48.2 166.5 191.9 53.9 183.0 213.1 59.8 191.6 235.3 68.6 220.5 256.8 82.7 252.1 283.8 89.3 262.6 314.9 92.9 271.8 348.0 103.9 296.4 35 36 37 80.1 19.9 48.0 79.6 20.4 44.9 78.3 21.7 40.7 78.1 21.9 35.0 78.1 21.9 35.9 77.4 22.6 34.8 75.6 24.4 31.3 76.1 23.9 29.9 77.2 22.8 32.8 77.0 23.0 31.4 387.7 • 123.8 338.3 75.8 24.2 29.6 CONSUMER CREDIT TRADE CREDIT MISCELLANEOUS ASSETS FOREIGN DIRECT INVEST. (2, FOREIGN CURRENCIES INSURANCE RECEIVABLES EQUITY IN SPONS. AGS. (1) DEBT SUBTOTALS: 432.5 LONG-TERM DEBT 153.0 SHORT-TERM DEBT 389.6 TOTAL S-T LIABILITIES 73.9 26.1 29.1 PERCENT RATIOS: L-T DEBT/CREDIT MARKET DEBT S-T DEBT/CREDIT MARKET DEBT LIQUID ASSETS/S—T LIABIL. MATURITY SPLIT ON DEBT IS APPROXIMATE: L-T IS BONDS, M-F ♦ COMMERCIAL MORTGAGES, AND 40X OF BANK LOANS. S-T DEBT IS OTHER CREDIT MARKET BORROWING. TOTAL S-T LIABILITIES IS S-T BORROWING ♦ TAX LIABILITIES ♦ TRADE DEBT. (1) SHARES IN FICB’S, BANKS FOR COOPS, AND LAND BANKS. (2) FOREIGN INVESTMENT EXCLUDES AMOUNTS FINANCED BY BOND ISSUES ABROAD, AND BOND ISSUES OUTSIDE THE U.S. ARE EXCLUDED FROM FINANCIAL SOURCES OF FUNDS ABOVE. (3) INDUSTRIAL POLLUTION CONTROL REVENUE BONDS. THESE ARE FORMALLY ISSUED BY STATE AND LOCAL GOVERNMENT AUTHORITIES, BUT THEY FINANCE PRIVATE INVESTMENT AND ARE SECURED IN INTEREST AND PRINCIPAL BY THE INDUSTRIAL USER OF THE FUNDS. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 31 32 33 34 35 36 37 MAY 1975 COMMERCIAL BANKING SUBSECTORS COMMERCIAL BANKING SUBSECTORS 7 7 ASSETS AND LIABILITIES OF COMPONENT GROUPS OF COMMERCIAL BANKING (BILLIONS OF DOLLARS) YEAR-END OUTSTANDINGS YEAR-END OUTSTANDINGS 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 COMMERCIAL BANKS 1 2 3 4 5 6 281.6 255.2 247.3 67.9 63.2 4.7 306.4 278.3 269.9 68.2 63.0 5.2 336.4 306.8 298.3 65.3 59.5 5.8 355.5 323.2 314.1 62.2 56.2 6.1 395.4 360.0 349.5 71.5 62.5 9.0 438.9 399.5 387.7 74.7 64.5 10.2 452.7 411.7 401.0 64.6 54.7 9.9 490.7 446.4 434.3 75.1 61.7 13.4 547.2 497.5 484.6 82.9 64.9 17.9 624.5 571.0 553.4 88.8 67.0 21.8 713.1 648.9 634.3 87.5 58.3 29.3 785.3 TOTAL FINANCIAL ASSETS 705.4 TOTAL BANK CREDIT CREDIT MARKET INSTRUMENTS 692.4 88.7 U.S. GOVT. SECURITIES DIRECT 55.8 AGENCY ISSUES 32.8 7 8 9 10 11 70.0 30.0 .8 24.7 14.4 78.1 33.5 .9 27.0 16.7 88.8 38.7 •8 30.1 19.2 95.8 41.0 .9 32.5 21.5 110.1 50.0 1.6 34.9 23.6 125.7 58.6 1.9 38.3 26.8 131.1 59.2 1.9 40.9 29.1 144.8 69.6 2.7 41.8 30.7 168.0 82.4 3.9 47.3 34.3 193.3 89.5 5.3 56.3 42.1 218.9 95.1 5.8 67.3 50.7 237.3 100.4 6.8 73.7 56.3 12 13 14 15 16 109.4 27.2 79.0 3.2 7.9 123.6 31.0 88.6 3.9 8.4 144.1 35.7 104.9 3.6 8.5 156.1 38.3 114.2 3.6 9.0 167.9 40.6 121.6 5.7 10.5 187.4 46.3 136.8 4.3 11.8 205.4 51.0 149.6 4.8 10.7 214.4 53.9 153.7 6.7 12.1 233.7 60.6 165.7 7.5 12.9 271.3 70.6 193.3 7.3 17.6 327.8 81.2 240.0 6.6 14.6 366.4 84.0 273.3 9.1 13.0 17 18 19 21.4 21.3 •1 22.6 22.6 * 23.3 23.3 * 25.3 25.2 .1 27.1 27.0 .1 29.1 29.1 .1 29.5 29.4 •1 31.5 31.2 .3 35.5 35.3 .2 37.1 34.3 2.8 42.8 37.8 5.1 45.8 37.5 8.3 INTERBANK CLAIMS 17 VAULT CASH + MEM. BK. RES. 18 19 DEP. AT FGN. BANKING AGS. 34.1 1 2 3 4 5 6 7 OTHER SECURITIES ♦ MTGS. S. + L. OBLIGATIONS 8 9 CORPORATE BONDS 10 HOME MORTGAGES 11 OTHER MORTGAGES OTHER CR. EXCL. SECURITY CONSUMER CREDIT BANK LOANS N.E.C. OPEN-MARKET PAPER SECURITY CREDIT 12 13 14 15 16 20 5.0 5.5 6.2 7.1 8.3 10.2 11.4 12.7 14.2 16.5 21.4 MISCELLANEOUS ASSETS 20 21 22 23 24 261.1 135.6 6.5 129.0 284.2 141.5 6.5 135.0 312.8 147.0 5.5 141.5 330.8 148.6 5.0 143.6 369.0 160.5 5.2 155.2 410.7 172.8 5.0 167.8 423.2 177.4 5.1 172.3 459.4 182.0 7.9 174.1 513.7 195.5 10.2 185.3 587.9 215.6 10.9 204.7 672.4 228.6 9.9 218.7 741.0 TOTAL LIABILITIES DEMAND DEPOSITS, NET 226.8 4.8 U.S. GOVERNMENT 222.0 OTHER 21 22 23 24 25 26 27 112.6 9.9 102.7 127.2 12.6 114.6 147.2 16.3 130.9 159.3 15.7 143.6 183.1 20.3 162.8 203.7 23.5 180.2 194.1 10.9 183.2 231.7 26.1 205.6 272.8 34.8 238.0 315.6 44.5 271.1 365.9 64.5 301.4 422.6 93.0 329.6 TIME DEPOSITS LARGE NEGOTIABLE CD’S OTHER 25 26 27 28 29 30 .2 •6 .8 •6 •8 1.6 1.7 .7 1.7 1.5 .7 2.0 1.3 •6 2.2 2.3 .5 2.0 A.O •6 2.1 .7 1.0 3.0 1.7 .9 4.1 3.5 .7 4.1 6.8 .8 4.3 3.7 .9 CORPORATE BONDS SECURITY R.P.’S PROFIT TAX LIABILITIES 28 29 30 31 32 33 34 35 36 37 3.2 2.6 * •5 .1 3.6 2.6 •2 •5 •3 3.2 2.2 •1 .7 •2 3.5 2.5 •2 .7 .2 4.5 2.6 .1 1.6 .3 6.1 3.4 •2 2.3 .2 7.7 3.4 .2 3.1 •6 .4 10.2 4.3 •3 4.4 •1 .7 .5 11.7 4.3 * 5.6 •1 1.0 •6 12.2 4.0 2.0 4.4 .4 .6 •8 14.3 3.1 1.3 7.0 .6 .2 2.2 16.2 2.0 .3 11.2 .7 * 2.0 INTERBANK LIABILITIES F.R. FLOAT BORROWING AT F.R. BANKS DEM. DEP. OF FGN. BK. AGS. TIME DEP. OF FGN. BK. AGS. LOANS FROM AFFILIATES LOANS FROM FGN. BK. AGS. 31 32 33 34 35 36 37 38 39 40 8.9 1.0 7.9 9.6 1.1 8.5 11.4 1.4 10.1 15.5 4.0 11.5 17.0 4.2 12.7 23.0 6.0 17.0 37.4 12.8 24.6 31.8 5.7 26.1 28.1 .9 27.2 36.2 1.4 34.8 51.9 1.8 50.1 66.5 4.0 62.5 MISCELLANEOUS LIABILITIES LIAB. TO FOREIGN BRANCHES OTHER 38 39 40 — — DOMESTIC AFFILIATES OF COMMERCIAL BANKS 1 2 3 4 5 6 - - - - — — 4.5 3.9 .6 3.6 3.0 .7 3.8 2.8 1.0 3.2 2.6 •6 4.5 4.3 •2 5.2 TOTAL FINANCIAL ASSETS 5.2 BANK LOANS N.E.C. ♦ LOANS TO AFFILIATE BANKS 1 2 3 - - - - - - 4.5 4.2 .3 3.6 2.3 1.3 3.8 2.0 1.9 3.2 2.6 •6 4.5 4.9 -.4 5.2 TOTAL LIABILITIES 7.3 COMMERCIAL PAPER ISSUES -2.1 MISCELLANEOUS LIABILITIES 4 5 6 44.0 TOTAL FINANCIAL ASSETS 17.9 CREDIT MARKET INSTRUMENTS .7 U.S. GOVERNMENT SECURITIES .2 STATE ♦ LOCAL OBLIGATIONS .4 CORPORATE BONDS 16.5 BANK LOANS N.E.C. OPEN-MARKET PAPER •1 1 2 3 4 5 6 7 EDGE ACT CORPORATIONS AND AGENCIES OF FOREIGN BANKS 1 2 3 4 5 6 7 4.8 1.7 .4 .1 ♦ 1.1 •1 6.0 1.8 .4 .1 * 1.2 •1 5.8 2.0 •5 •1 ♦ 1-3 , •1 6.5 2.4 .5 .1 * 1.7 •1 7.3 2.8 .6 .2 * 1.8 •1 9.8 3.2 .6 •2 * 2.3 .1 12.5 4.5 .6 •2 * 3.6 .1 20.1 7.2 .5 .4 * 6.2 .1 21.4 7.3 .3 •2 ♦ 6.7 .1 22.5 9.0 •6 •1 .3 7.8 .1 32.4 12.9 .7 .2 .3 11.6 .1 8 9 10 11 12 13 •1 1.1 .5 .1 1.3 .1 1.1 •5 •3 2.2 .2 .8 .7 — .2 2.0 .2 .9 .7 .2 2.2 .3 .9 1.6 .3 1.5 .4 .9 2.3 .2 2.9 .4 .9 3.1 .4 3.2 .5 .9 4.4 .1 .5 6.7 .5 .9 5.6 •1 •6 6»4 •6 .9 4.4 .4 •8 6.4 .7 .5 7.0 .6 2.2 8.6 14 15 16 17 18 4.8 1.1 .4 .1 * 6.0 1.8 .4 * •1 5.8 1.6 .5 * •1 6.5 1.5 .5 .1 •1 7.3 1.7 •6 .1 •1 9.8 2.7 •8 .1 •2 12.5 3.0 1.0 .1 •3 20.1 9.6 1.4 .3 .4 21.4 9.1 1.7 .2 2.1 22.5 5.4 1.2 2.8 2.9 32.4 5.0 1.8 5.1 8.0 44.0 TOTAL LIABILITIES 5.8 DEMAND DEP. IN MONEY STOCK 2.0 TIME DEPOSITS 8.3 DEPOSITS OF BANKS 10.9 LOANS FROM BANKS 14 15 16 17 18 19 20 21 3.2 3.0 •1 3.7 3.5 .2 3.6 3.3 .3 4.3 3.6 .7 4.8 4.1 .7 6.0 4.6 1.4 7.9 5.7 2.2 8.4 6.0 2.4 8.3 6.7 1.6 10.3 7.1 3.2 12.5 7.8 4.7 17.1 10.2 6.9 19 20 21 .7 .5 11.2 .7 2.0 11.1 CORPORATE EQUITIES 8 SECURITY CREDIT 9 DEM. DEPOSITS AT COML. BANKS 10 TIME DEPOSITS AT COML. BANKS 11 LOANS TO BANKS 12 MISCELLANEOUS ASSETS 13 MISCELLANEOUS LIABILITIES DUE TO FOREIGN AFFILIATES OTHFR BANKS; IN U.S. POSSESSIONS 1 2 3 4 5 6 7 8 9 1.1 •1 •5 •2 .1 * .2 .1 .5 1.3 .2 .5 •1 .1 * .2 .1 •6 LO 1.1 1.3 1.3 •1 .6 •1 .1 ♦ •3 .1 •6 1.6 •2 .7 •2 .1 * .3 .1 .7 1.9 .2 .9 •2 .1 .1 .4 •1 •8 2.2 •2 1.0 .2 •2 .1 .4 .1 1.0 3.3 •3 1.2 .2 .2 .1 •4 •2 1.8 3.8 •4 1.3 •3 .2 .1 •6 .2 2.1 4.3 .5 1.6 •4 .2 .1 .7 .2 2.1 4.8 .7 1.9 •6 .3 .1 .7 .2 2.1 5.2 1.0 2.0 •6 .4 .1 .7 •3 2.2 5.2 TOTAL FINANCIAL ASSETS .5 DEMAND DEPOSITS + CURRENCY 2.4 CREDIT MARKET INSTRUMENTS .4 U.S. GOVERNMENT SECURITIES .7 STATE + LOCAL OBLIGATIONS •1 CORPORATE BONDS •6 HOME MORTGAGES •6 COMMERCIAL MORTGAGES 2.3 MISCELLANEOUS ASSETS 1.3 1.6 1.9 2.2 3.3 3.8 4.3 4.8 5.2 5.2 TOTAL DEPOSIT LIABILITIES 1 2 3 4 5 6 7 8 9 10 MAY 1975 REST OF WORLD REST OF WORLD TABLE 8. SECTOR STATEMENTS OF FINANCIAL ASSETS AND LIABILITIES (BILLIONS OF DOLLARS) YEAR-END OUTSTANDINGS 1963 1964 YEAR-END OUTSTANDINGS 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 REST OF THE WORLD 1 2 3 4 78.4 26.7 3.5 4.3 84.4 27.5 4.2 5.4 88.0 29.4 4.4 6.0 89.6 30.0 4.8 6.3 98.0 29.5 5.1 7.6 107.9 30.0 5.7 7.3 115.6 29.2 6.0 8.4 125.2 32.8 6.2 6.7 153.5 36.8 6.5 7.2 184.4 43.4 8.0 9.9 200.8 47.3 10.6 12.8 5 6 7 8 9 12.5 15.0 12.9 .7 1.4 13.8 15.9 13.4 .9 1.6 14.6 15.9 13.2 .7 2.0 12.6 14.3 10.8 1.3 2.2 15.5 16.1 12.9 .9 2.2 19.6 16.1 12.4 .9 2.8 18.1 14.9 10.6 .4 3.8 18.7 25.7 19.7 1.7 4.3 21.4 52.4 46.0 2.3 4.1 27.8 61.1 54.4 2.6 4.1 24.8 61.5 54.8 2.3 4.4 18.1 72.9 58.4 3.5 11.0 10 11 •1 •8 .1 •8 •2 1.0 .2 1.4 •3 1.8 .6 2.7 .4 4.4 •3 5.8 .3 5.9 •4 7.3 •3 8.3 •3 9.4 12 15.5 16.5 16.6 20.0 22.1 25.9 34.3 29.1 23.0 26.5 35.1 43.6 13 14 15 4.0 7.9 3.5 4.6 8.4 3.6 4.7 8.8 3.1 7.6 9.1 3.4 8.3 9.9 3.9 10.6 10.8 4.5 18.6 11.8 3.9 11.6 13.3 4.2 7.6 13.7 1.8 8.5 14.3 3.8 9.6 17.7 7.8 14.2 21.0 8.4 16 82.0 93.9 101.4 107.2 116.2 126.1 134.9 143.2 155.9 170.7 194.2 17 1.2 1.2 1.6 1.6 2.8 4.8 5.1 2.6 .9 .7 •6 39.9 10.5 7.1 22.3 42.8 10.8 6.8 25.3 45.3 11.7 6.3 27.3 47.5 11.7 6.1 29.7 50.6 13.2 5.7 31.7 55.8 14.7 7.3 33.6 61.0 15.9 10.2 34.9 68.5 16.6 13.0 38.9 84.0 18.6 17.8 47.6 CREDIT MARKET INSTRUMENTS CORPORATE BONDS BANK LOANS N.E.C. OTHER LOANS 18 19 20 21 SECURITY DEBT TRADE DEBT 22 23 MISCELLANEOUS LIABILITIES USG EQUITY IN IBRD, ETC. FOREIGN CURR. HELD IN U.S. U.S. DIR. INV. ABROAD (1) OTHER 24 25 26 27 28 223.9 TOTAL FINANCIAL ASSETS 47.1 GOLD + SDR'S 13.0 U.S. DEMAND DEP. + CURRENCY 19.4 U.S. TIME DEPOSITS 31.1 8.2 4.7 18.2 36.0 9.2 6.7 20.2 38.9 10.2 7.2 21.5 22 23 •1 2.2 •1 2.8 .1 2.7 .1 3.0 •3 3.5 .5 3.9 •3 5.2 .3 6.2 .3 6.7 .4 7.2 .2 9.0 •2 12.0 24 25 26 27 28 47.3 1.2 4.5 40.7 1.0 53.7 1.2 4.8 44.4 3.3 58.1 1.3 4.3 49.2 3.3 62.5 1.3 4.0 53.9 3.2 66.8 1.4 4.1 58.3 3.0 71.5 1.5 4.6 61.6 3.8 76.8 1.7 4.2 66.6 4.2 83.6 1.9 4.7 73.0 4.0 92.3 2.2 6.1 79.8 4.1 101.4 2.5 9.5 86.0 3.6 115.8 2.8 14.3 97.7 1.0 139.2 3.4 15.3 110.4 10.1 5 6 7 8 9 SECURITY CREDIT TRADE CREDIT 10 11 MISCELLANEOUS ASSETS U.S. BANK LIABILITIES TO FOREIGN AFFILIATES DIRECT INVESTMENT IN U.S. OTHER 12 237.2 TOTAL LIABILITIES U.S. OFFICIAL FGN. EXCHANGE 1.8 + NET IMF POSITION 18 19 20 21 U.S. CORPORATE SHARES CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES U.S. CORPORATE BONDS (1) ACCEPTANCES 1 2 3 4 (1) NET OF U.S. SECURITY ISSUES IN FOREIGN MARKETS TO FINANCE U.S. INVESTMENT ABROAD. 13 14 15 16 17 WAY 1975 U.S. GOVT. SECURITIES U.S. GOVT. SECURITIES 9 U. S. GOVERNMENT SECURITIES (BILLIONS OF DOLLARS) YEAR-END OUTSTANDINGS YEAR-END OUTSTANDINGS 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1 2 3 4 5 6 263.9 251.0 48.0 202.9 101.1 101.9 270.5 256.4 49.0 207.4 105.8 101.6 274.2 257.7 49.6 208.1 108.8 99.3 282.9 260.0 50.2 209.8 110.2 99.5 295.4 268.9 51.1 217.8 118.9 98.9 312.1 279.2 51.5 227.7 119.4 108.3 317.6 278.0 51.1 226.8 128.4 98.4 338.8 290.8 51.4 239.4 133.8 105.6 369.1 316.9 53.8 263.0 130.4 132.7 392.7 330.8 57.1 273.7 143.5 130.1 422.1 338.5 59.8 278.7 153.1 125.6 7 8 9 10 11 12 12.9 •2 1.2 .7 .5 11.5 14.2 .2 2.0 •5 1.5 11.9 16.5 .2 2.4 .5 1.9 13.8 22.9 .3 3.7 .5 3.2 18.9 26.5 .5 7.7 1.7 6.0 18.4 32.9 1.9 9.4 1.1 8.2 21.6 39.7 1.6 7.5 .3 7.1 30.6 47.9 1.9 7.1 7.1 38.9 52.3 2.5 6.5 6.5 43.2 61.9 4.5 8.0 8.0 49.4 83.6 5.3 9.3 9.3 68.9 13 14 15 16 17 263.9 * 2.2 1.9 •3 270.5 * 1.8 1.8 * 274.2 * 1.9 1.6 •3 282.9 1.4 2.9 2.0 .9 295.4 1.3 2.9 2.8 .1 312.1 1.4 2.7 2.7 •1 317.6 .1 2.3 2.0 •3 338.8 * 4.2 4.0 •2 369.1 * 3.1 2.9 .1 392.7 * 2.7 2.6 * 422.1 * 4.0 4.0 - 18 19 20 21 33.6 25.6 8.0 37.0 28.2 8.8 40.8 31.9 8.9 44.3 36.5 7.8 49.1 39.2 9.9 52.9 32.6 20.4 57.2 37.6 19.5 62.1 38.5 23.7 70.8 39.5 30.7 .6 71.2 41.2 28.7 1.3 80.5 50.6 27.9 2.0 85.7 50.5 30.0 5.2 FEDERAL RESERVE SYSTEM SHORT-TERM TREASURY OTHER TREASURY AGENCY ISSUES 16 19 20 21 22 23 24 12.9 8.7 4.2 13.4 8.5 4.9 13.2 7.6 5.6 10.8 6.7 4.1 12.9 7.6 5.3 12.4 5.9 6.5 10.6 3.7 7.0 19.7 11.5 8.2 46.0 25.4 20.6 54.4 26.7 27.7 54.8 21.0 33.8 58.4 28.1 30.2 FOREIGN SHORT-TERM MARKETABLE OTHER 22 23 24 25 215.1 218.3 218.2 223.6 229.3 242.6 247.4 252.7 249.2 264.4 282.8 308.4 TOTAL PRIVATE DOMESTIC 25 26 27 28 29 30 31 109.4 103.6 48.0 55.6 33.9 21.7 110.4 104.3 49.0 55.3 31.3 24.0 113.3 105.9 49.6 56.3 33.6 22.7 121.7 110.1 50.2 59.9 34.7 25.1 120.3 108.4 51.1 57.2 33.4 23.9 128.3 113.1 51.5 61.6 39.2 22.5 145.3 123.5 51.1 72.3 51.5 20.8 136.3 112.3 51.4 60.9 38.5 22.4 122.3 103.5 53.8 49.6 28.7 20.9 123.9 105.0 57.1 47.9 29.9 18.0 141.7 112.4 59.8 52.6 35.5 17.0 160.7 120.0 62.9 57.1 39.1 18.0 PRIVATE DOMESTIC NONFINAN. TOTAL TREASURY ISSUES SAVINGS BONDS (HH) TREAS. EXCL. SVGS. BONDS SHORT-TERM MARKETABLE OTHER 26 27 28 29 30 31 32 33 34 5.7 5.7 - 6.1 6.0 •2 7.4 6.8 •6 11.6 10.0 1.5 11.9 9.7 2.2 15.2 12.6 2 .6 21.9 19.8 2.1 24.0 21.6 2.4 18.8 16.6 2.2 18.9 15.6 3.3 29.3 26.2 3.1 40.7 37.7 3.0 35 36 37 38 39 40 76.5 48.0 25.6 12.7 12.9 2.9 79.3 49.0 26.7 12.5 14.2 3.7 81.8 49.6 27.6 12.4 15.2 4.6 89.5 50.2 30.3 13.2 17.1 9.0 91.0 51.1 29.6 12.2 17.4 10.3 96.6 51.5 34.9 20.1 14.7 10.2 109.4 51.1 45.3 31.7 13.6 13.0 99.7 51.4 32.6 22.7 9.9 15.7 85.3 53.8 20.5 10.2 10.3 11.0 85.9 57.1 17.9 10.9 7.0 10.9 105.3 59.8 24.4 .7 .4 21.1 120.8 62.9 26.0 24.0 2.0 31.8 41 42 43 44 45 16.7 14.8 11.8 3.0 1.9 15.2 13.5 10.0 3.5 1.6 12.7 10.7 9.8 .9 2.0 11.5 9.1 8.6 .5 2.4 8.9 8.0 8.1 -.1 .9 9.3 7.6 7.2 •4 1.7 7.0 4.8 4.8 * 2.2 7.5 5.2 2.4 2.8 2.3 9.7 7.3 5.1 2.2 2.4 7.2 4.1 3.0 1.1 3.1 5.4 1.1 19.2 5. 2 4.3 8.9 4.7 2.5 2.2 4.3 CORPORATE BUSINESS TREASURY ISSUES SHORT-TERM MARKETABLE OTHER AGBMCY ISSUES 41 42 43 44 45 46 47 48 49 50 16.1 15.1 9.4 5.8 1.0 16.0 15.2 8.8 6.3 .8 18.8 18.0 11.4 6.6 .9 20.7 20.5 13.0 7.5 •2 20.3 19.7 13.1 6.6 .7 22.5 19.2 11.8 7.4 3.3 28.9 22.2 15.0 7.2 6.7 29.1 23.2 13.5 9.7 5.9 27.3 21.9 13.4 8.5 5.5 30.8 25.9 16.0 9.9 4.9 31.0 27.1 15.7 11.4 3.9 31.0 26.4 12.6 13.8 4.6 S. + L. GOVERNMENTS TREASURY ISSUES SHORT-TERM MARKETABLE OTHER AGENCY ISSUES 46 47 48 49 50 51 52 53 54 55 68.5 63.8 24.0 39.8 4.7 68.8 63.6 28.2 35.4 5.2 66.0 60.2 26.7 33.5 5.8 62.9 56.8 21.8 35.0 6.1 72.3 63.3 27.3 35.9 9.0 75.5 65.3 29.1 36.2 10.2 65.5 55.6 24.9 30.7 9.9 75.9 62.5 30.3 32.2 13.4 83.6 65.6 24.9 40.7 17.9 90.0 68.0 30.3 37.7 22.0 88.8 59.2 28.5 30.7 29.6 89.8 56.6 26.7 29.9 33.2 56 57 58 67.9 •4 .2 68.2 •4 .1 65.3 .5 .1 62.2 .5 .2 71.5 .6 .2 74.7 .6 .2 64.6 .6 .2 75.1 .5 •3 82.9 .3 88.8 .6 .6 87.5 .7 •6 88.7 .7 .4 59 60 61 62 63 37.3 34.8 7.0 27.8 2.4 39.1 36.3 7.8 28.5 2.8 38.9 35.7 7.4 28.3 3.3 39.1 35.1 8.5 26.6 3.9 36.8 32.4 8.6 23.8 4.4 38.8 32.7 10.0 22.7 6.1 36.6 28.8 8.7 20.1 7.8 40.4 29.9 10.9 19.0 10.5 43.3 28.5 8.8 19.6 14.9 50.4 30.8 12.8 17.9 19.7 52.4 29.7 13.4 16.3 22.7 57.9 32.2 14.7 17.5 25.7 1974 456.3 TOTAL OUTSTANDING TREASURY ISSUES 351.5 62.9 HOUSEHOLD SAVINGS BONDS TREAS. EXCL. SAVINGS BONDS 288.6 SHORT-TERM MARKETABLE 163.0 OTHER 125.6 104.8 5.4 9.1 — 9.1 90.3 OTHER BUDGET AGENCY ISSUES LOAN PARTICIPATIONS (1) CCC CTFS. OF INTEREST OTHER SPONS. AGENCY ISSUES <2> 456.3 TOTAL HOLDINGS, BY SECTOR ♦ U.S. GOVT. (AGENCY SEC.) SPONSORED CREDIT AGENCIES 3.8 3.8 TREASURY MARKETABLE FHLB SPECIAL ISSUE - OTHER AGENCY ISSUES LOAN PARTICIPATIONS PVT. DOM. NONFIN., BY SEC. HOUSEHOLDS SAVINGS BONDS TREAS. EXCL. SVGS. BONDS SHORT-TERM MARKETABLE OTHER AGENCY ISSUES COMMERCIAL BANKING TREASURY ISSUES SHORT-TERM OTHER AGENCY ISSUES COMMERCIAL BANKS FOREIGN BANKING AGENCIES BANKS IN U.S. POSSESSIONS PRIVATE NONBANK FINANCE TREASURY ISSUES SHORT-TERM MARKETABLE OTHER AGENCY ISSUES (1) WHERE NOT SHOWN SEPARATELY, LOAN PARTICIPATIONS ARE INCLUDED WITH AGENCY ISSUES. (2) THESE ISSUES ARE OUTSIDE THE BUDGET AND OUTSIDE THE U.S. GOVERNMENT SECTOR IN FLOW OF FUNDS ACCOUNTS. THEY ARE INCLUDED IN CREDIT MARKET DEBT OF FINANCIAL INSTITUTIONS. SPONSORED AGENCY ISSUES INCLUDE GNMA-GUARANTEED SECURITIES BACKED BY MORTGAGE POOLS. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 32 33 34 35 36 37 38 39 40 51 52 53 54 55 56 57 58 59 60 61 62 63 MAY 1975 PRIVATE SECURITIES AND MORTGAGES PRIVATE SECURITIES AND MORTGAGES 10 10 PRIVATE SECURITIES AND MORTGAGES (BILLIONS OF DOLLARS) YEAR-END OUTSTANDINGS 1963 1964 YEAR-END OUTSTANDINGS 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 STATE AND LOCAL GOVERNMENT SECURITIES 1 2 3 4 5 86.9 86.9 4.1 82.8 - 92.9 92.9 4.9 88.0 — 100.3 100.3 5.5 94.8 - 105.9 105.9 6.2 99.8 — 113.7 113.7 8.0 105.7 — 123.2 123.2 8.1 115.1 — 133.1 133.1 10.9 122.2 - 144.4 144.4 13.3 131.1 - 162.0 161.9 15.7 146.1 .1 176.3 175.7 15.1 160.6 •6 190.0 187.6 14.8 172.8 2.4 207.4 TOTAL LIABILITIES 203.3 STATE + LOCAL GOVERNMENTS 17.7 SHORT-TERM 185.7 OTHER 4.1 CORPORATE BUSINESS (POLLUTION CONTROL) 1 2 3 4 5 6 7 8 9 86.9 32.0 3.8 2.3 92.9 34.6 3.7 2.2 100.3 36.4 4.6 2.2 105.9 40.0 3.6 2.1 113.7 37.7 3.3 2.1 123.2 37.0 3.8 2.2 133.1 46.1 2.8 2.2 144.4 45.4 2.2 2.4 162.0 45.2 3.2 2.1 176.3 46.2 4.2 2.3 190.0 50.5 4.0 2.5 207.4 TOTAL ASSETS 60.3 HOUSEHOLDS 4.7 CORPORATE BUSINESS 2.8 S. + L. GOVT., GEN. FUNDS 6 7 8 9 10 11 12 13 14 15 30.1 •4 3.9 3.3 10.6 .5 33.7 •4 3.8 2.9 11.0 .7 38.9 .3 3.5 2.6 11.3 .5 41.2 .3 3.1 2.5 12.6 .5 50.3 .2 3.0 2.4 14.1 .5 58.9 .2 3.2 2.4 15.1 .5 59.5 •2 3.2 2.3 16.3 •4 70.2 •2 3.3 2.0 17.8 .9 82.8 •4 3.4 2.1 21.7 1.0 90.0 .9 3.4 2.0 26.5 .9 95.7 .9 3.4 1.4 30.4 1.1 16 17 2.2 89.1 2.5 95.4 2.8 103.1 3.4 109.3 3.6 117.3 4.0 127.2 4.7 137.9 4.8 149.2 5.2 167.0 5.5 181.2 5.9 193.5 LOANS FROM U.S. GOVT. 6.7 NOT INCLUDED ABOVE 210.0 TOTAL CREDIT MARKET DEBT 101.3 .9 3.7 •8 32.2 .7 COMMERCIAL BANKING MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES S. + L. GOVT., RTR. FUNDS OTHER INSURANCE COMPANIES BROKERS + DEALERS 10 11 12 13 14 15 16 17 CORPORATE AND FOREIGN BONDS 1 2 3 4 5 6 109.0 88.4 •2 12.2 8.2 116.6 92.4 •8 14.3 9.2 12 5.7 97.8 1 16.1 — 10.2 137.2 108.0 1.7 16.9 — 10.5 153.4 122.7 2.0 17.9 — 10.8 168.3 135.6 2.2 18.8 11.7 181.7 147.6 2.0 20.3 .1 11.7 206.1 167.3 2.1 22.9 •6 13.2 231.4 186.1 3.0 26.7 1.0 14.7 251.8 198.3 4.1 32.1 1.4 15.9 264.0 207.5 4.1 33.9 1.9 16.6 287.1 TOTAL LIABILITIES 227.1 CORPORATE BUSINESS 4.3 COMMERCIAL BANKS 35.0 FINANCE COMPANIES REITS 2.1 18.6 REST OF THE WORLD 7 8 9 10 109.0 11.2 •8 3.2 116.6 11.9 .9 3.1 125.7 13.5 •8 2.9 137.2 15.2 .9 3.2 153.4 19.0 1.7 5.3 168.3 23.7 2.0 6.6 181.7 30.3 1.9 6.9 206.1 41.0 2.7 8.1 231.4 50.5 4.0 12.0 251.8 55.6 5.7 14.2 264.0 56.8 6.2 13.1 287.1 TOTAL ASSETS 54.5 HOUSEHOLDS 7.3 COMMERCIAL BANKING 14.1 MUTUAL SAVINGS BANKS 7 8 9 10 11 12 13 14 15 16 17 18 90.4 56.0 19.6 12.8 2.0 1.8 •8 .7 96.8 58.3 21.2 14.9 2.4 2.1 .9 .9 104.1 61.1 22.7 17.2 3.0 2.6 1.2 .7 112.4 63.5 25.2 20.2 3.6 2.9 1.3 1.3 121.9 67.3 26.4 23.9 4.3 3.0 1.7 .9 130.2 71.2 27.0 26.6 5.5 3.4 1.5 .9 136.7 72.7 27.6 30.2 6.3 3.6 1.8 •4 146.3 74.1 29.7 33.9 8.6 4.3 1.9 1.7 155.6 79.6 29.0 38.1 8.9 4.9 2.1 2.3 166.4 86.6 28.2 43.4 8.1 5.1 2.2 2.6 178.8 92.5 29.8 49.4 7.2 4.2 2.6 2.3 201.2 97.9 34.5 57.8 11.0 3.8 2.7 3.5 11 12 13 14 15 16 17 18 INSURANCE LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS S. + L. GOVT., RTR. FUNDS OTHER INSURANCE COMPANIES OPEN-END INVESTMENT COS. BROKERS ♦ DEALERS REST OF THE WORLD 1 2 3 4 5 6 CORPORATE EQUITIES 1 2 3 597.0 25.2 571.8 662.1 29.1 633.0 749.0 35.2 713.7 682.7 34.8 647.8 869.5 44.7 824.8 1027.6 52.7 975.0 907.6 48.3 859.4 900.6 47.6 852.9 1046.1 56.7 989.5 1223.1 59.8 1163.2 968.0 46.5 921.4 697.6 TOTAL AT MARKET VALUE 35.8 OPEN-END INVESTMENT COS. 661.9 OTHER SECTORS 4 5 6 7 8 9 10 11 12 13 14 15 597.0 514.8 .1 1.2 45.8 7.1 27.7 1.0 10.0 22.1 •6 12.5 662.1 566.5 .1 1.3 54.1 7.9 33.5 1.3 11.4 25.6 .7 13.8 749.0 637.5 .2 1.4 63.5 9.1 40.7 1.6 12.0 30.9 1.0 14.6 682.7 576.9 •2 1.5 61.4 8.8 39.5 2.1 11.0 28.9 1.1 12.6 869.5 733.7 •3 1.7 77.7 10.9 51.1 2.8 13.0 39.2 1.5 15.5 1027.6 865.1 •4 1.9 93.4 13.2 61.4 4.1 14.6 46.1 1.3 19.6 907.6 750.0 •4 2.2 94.5 13.7 61.6 5.9 13.3 40.9 1.6 18.1 900.6 733.6 •5 2.5 103.9 15.4 67.2 8.0 13.2 39.7 1.7 18.7 1046.1 833.7 .5 3.0 137.0 20.6 88.6 11.2 16.6 48.6 1.9 21.4 1223.1 959.1 •6 3.6 178.2 26.8 114.9 14.7 21.8 51.7 2.0 27.8 968.0 744.4 .7 4.0 153.3 25.9 89.2 18.6 19.6 38.3 2.4 24.8 697.6 MARKET VALUE OF HOLDINGS 523.2 HOUSEHOLDS .7 COMMERCIAL BANKING 4.2 MUTUAL SAVINGS BANKS 122.7 INSURANCE 22.2 LIFE INSURANCE COMPANIES 65.9 PRIVATE PENSION FUNDS 22.1 S. ♦ L. GOVT., RTR. FUNDS 12.5 OTHER INSURANCE COMPANIES 26.3 OPEN-END INVESTMENT COS. 2.5 BROKERS + DEALERS 18.1 REST OF THE WORLD 16 489.6 537.4 602.2 542.1 689 .0 812.4 701.7 685.9 777.0 899.3 697.9 487.4 MEMO: HH HOLDINGS EXCL. OPEN-END INVESTMENT COS. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 TOTAL MORTGAGES ————— 1 274.3 300.1 325.8 347.4 370.2 397.5 425.3 451.7 499.9 568.7 639.6 1.3 6.2 1.2 560.0 334.8 23.1 202.1 35.4 62.6 104.1 1.3 4.7 1.5 632.2 379.0 24.5 228.7 38.8 69.6 120.2 694.1 TOTAL MORTGAGES 1 LIABILITIES OF: 1.2 U.S. GOVERNMENT 2 SAVINGS ♦ LOAN ASSOCIATIONS 3.2 3 1.6 4 REITS 688.1 5 PRIVATE NONFINANCIAL SECTORS 411.5 HOUSEHOLDS 6 25.9 NONPROFIT INSTITUTIONS 7 250.7 BUSINESS 8 43.8 9 FARMS 75.8 NONFARM NONCORPORATE 10 131.2 CORPORATE 11 2 3 4 5 6 7 8 9 10 11 1.8 2.5 269.9 175.1 12.0 82.8 16.8 20.6 45.4 1.8 2.2 296.1 191.1 13.1 91.9 18.9 24.0 49.0 1.8 2.2 321.7 206.3 14.2 101.1 21.2 27.1 52.8 1.8 1.3 — 344.4 219.0 15.5 109.9 23.3 29.5 57.1 1.7 2.3 366.3 229.4 16.7 120.2 25.5 33.2 61.6 1.7 2.4 •2 393.2 244.0 17.8 131.4 27.5 36.7 67.2 1«6 2.5 •4 420.9 260.1 19.1 141.7 29.5 40.4 71.8 1.5 3.1 •5 446.6 272.5 20.5 153.6 31.2 45.3 77.0 1.4 5.0 .7 492.8 296.4 21.7 174.7 32 -9 53.3 88.5 12 13 14 15 16 274.3 34.8 5.8 2.2 5.4 300.1 35.1 5.7 2.2 5.7 325.8 34.3 5.6 2.1 6.8 347.4 35.7 6.4 2.1 9.4 370.2 36.6 7.3 2.2 11.1 397.5 38.1 8.4 2.2 13.3 425.3 39.2 9.1 2.2 17.8 451.7 39.3 9.5 2.1 23.6 499.9 39.5 9.5 2.2 29.9 568.7 37.6 9.3 2.2 36.6 639.6 38.1 8.7 2.2 47.0 694.1 39.3 10.5 2.2 61.9 ASSETS OF: HOUSEHOLDS U.S. GOVERNMENT S. + L. GOVT., GEN. FUNDS SPONSORED CREDIT AG. (1) (2) 12 13 14 15 16 17 18 19 20 21 22 226.1 39.4 127.7 90.9 36.2 .5 251.4 44.0 142.4 101.3 40.6 .5 276.9 49.7 155.5 110.3 44.6 •6 293.9 54.4 162.4 114.4 47.3 .6 313.1 59.0 173.0 121.8 50.5 .7 335.4 65.7 185.0 130.8 53.5 .7 357.1 70.7 197.1 140.2 56.1 .7 377.2 73.3 209.1 150.3 57.9 .8 418.8 82.5 237.1 174.3 62.0 .8 483.0 99.3 274.7 206.2 67.6 1.0 543.7 119.1 306.3 232.1 73.2 1.0 580.2 131.3 326.1 249.7 75.4 1.0 PRIVATE FINAN. INSTITUTIONS COMMERCIAL BANKING SAVINGS INSTITUTIONS S+L ASSOCIATIONS (1) MUTUAL SAVINGS BANKS CREDIT UNIONS 17 18 19 20 21 22 23 24 25 26 27 28 29 55.5 50.5 2.2 2.6 •1 3.5 61.1 55.2 2.7 3.1 •1 3.9 - 67.2 60.0 3.3 3.7 •1 4.5 73.2 64.6 3.9 4.5 •1 3.9 76.8 67.5 4.1 5.0 .2 4.3 - 79.6 70.0 4.1 5.4 •2 4.9 •2 82.4 72.0 4.2 6.0 .2 5.7 1.1 85.7 74.4 4.3 6.8 •2 5.9 3.2 86.5 75.5 3.7 7.1 •2 7.0 5.8 87.3 77.3 3.0 6.8 .2 11.1 10.6 90.7 81.2 2.7 6.7 •2 12.5 15.1 96.1 86.3 2.7 7.0 •2 10.8 15.8 6.9 4.4 5.3 30 4.8 5.3 6.0 INSURANCE LIFE COMPANIES PRIVATE PENSION FUNDS S. ♦ L. GOVT., RTR. FUND OTHER INSURANCE COS. FINANCE COMPANIES REITS 7.9 15.1 21.8 (1) MEMO: FHLB.LOANS TO S+L 9.3 10.6 8.0 ASSOCIATIONS (INCLUDED IN "OTHER LOANS" CATEGORY). (2) INCLUDES MORTGAGE POOLS BACKING GNMA-GUARANTEED PASS-THROUGH SECURITIES. 23 24 25 26 27 28 29 30 MAY 1975 MORTGAGES* BY TYPE 11 MORTGAGES, BY TYPE 11 MORTGAGE MARKETS BY TYPE OF MORTGAGE (BILLIONS OF DOLLARS) YEAR-END OUTSTANDINGS YEAR-END OUTSTANDINGS 1963 1964 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 HOME MORTGAGES 1 2 3 4 5 6 182.2 175.1 1.4 1.4 1.8 2.5 197.6 191.1 1.2 1.2 1.8 2.2 212.9 206.3 1.3 1.3 1.8 2.2 223.6 219.0 .8 •8 1.8 1.3 236.1 229.4 1.4 1.4 1.7 2.3 251.2 244.0 1.6 1.6 1.7 2.4 266.8 260.1 1.4 1.4 1.6 2.5 280.2 272.5 1.5 1.5 1.5 3.1 307.8 296.4 2.5 2.5 1.4 5.0 348.6 334.8 3.1 3.1 1.3 6.2 390.3 379.0 2.7 2.7 1.3 4.7 420.3 TOTAL LIABILITIES 411.5 HOUSEHOLDS NONFARM NONCORP. BUSINESS 2.2 CORPORATE BUSINESS 2.2 1.2 U.S. GOVERNMENT SAVINGS + LOAN ASSOCIATIONS 3.2 7 8 9 10 11 12 182.2 11.6 4.1 2.2 2.1 24.9 197.6 11.9 4.0 2.2 2.0 27.2 212.9 11.8 3.9 2.1 2.5 30.4 223.6 12.1 4.5 2.1 4.4 32.8 236.1 12.3 5.2 2.2 5.5 35.3 251.2 13.0 6.0 2.2 7.2 38.8 266.8 13.0 6.1 2.2 11.0 41.4 280.2 13.0 6.0 2.1 16.1 42.3 307.8 12.7 5.7 2.2 20.9 48.0 348.6 10.1 5.1 2.2 25.2 57.0 390.3 10.1 3.9 2.2 31.6 68.0 420.3 TOTAL ASSETS 10.0 HOUSEHOLDS 4.4 U.S. GOVERNMENT 2.2 STATE + LOCAL GOVERNMENTS 41.3 SPONS. CREDIT AGENCIES (1) 74.4 COMMERCIAL BANKING 7 8 9 10 11 12 13 14 15 16 104.3 79.1 24.7 .5 115.1 87.2 27.4 •5 124.9 94.2 30.1 .6 129.7 97.4 31.7 •6 137.5 103.3 33.5 .7 146.0 110.3 35.0 .7 155.1 117.9 36.4 .7 163.1 125.0 37.3 •8 181.8 142.3 38.6 •8 209.7 167.0 41.7 1.0 233.3 188.1 44.2 1.0 247.8 201.9 44.9 1.0 SAVINGS INSTITUTIONS SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS CREDIT UNIONS 13 14 15 16 17 18 19 20 21 29.6 27.3 2.2 3.5 - 31.3 28.5 2.7 3.9 32.9 29.6 3.3 4.5 34.1 30.2 3.9 3.9 33.8 29.8 4.1 4.3 - 33.1 29.0 4.1 4.9 * 32.2 28.0 4.2 5.7 •2 31.0 26.7 4.3 5.9 .7 28.3 24.6 3.7 7.0 1.4 25.5 22.5 3.0 11.1 2.8 24.7 22.0 2.7 12.5 4.1 25.1 22.4 2.7 10.8 4.4 INSURANCE LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS FINANCE COMPANIES REITS 17 18 19 20 21 - 1 2 3 4 5 6 MULTI-FAMILY RESIDENTIAL MORTGAGES 1 2 3 4 29.0 15.8 13.2 - 33.6 19.1 14.5 37.2 21.8 15.3 40.3 24.2 16.1 43.9 27.0 16.9 5 6 7 8 9 29.0 4.6 1.1 * 1.6 33.6 4.3 1.0 * 1.7 37.2 3.4 1.0 * 2.0 40.3 2.9 1.3 * 2.1 10 11 12 13.8 5.8 8.0 16.2 7.1 9.1 18.2 8.1 10.0 13 14 15 5.3 2.6 - 7.2 3.1 - 8.8 3.7 - 47.3 29.7 17.5 .1 52.2 33.3 18.7 •1 58.0 37.7 20.2 •2 66.8 43.8 22.8 •2 77.3 51.1 2 5.8 •4 85.8 57.0 28.3 .5 93.6 TOTAL LIABILITIES 62.6 NONFARM NONCORP. BUSINESS 30.5 CORPORATE BUSINESS .5 REITS 1 2 3 4 43.9 2.6 1.5 * 2.4 47.3 2.3 1.9 * 2.7 52.2 1.9 2.5 * 3.2 58.0 1.0 3.0 •3 3.3 66.8 .9 3.4 1.1 4.0 77.3 2.2 3.8 2.3 5.8 85.8 2.3 4.2 4.3 6.9 93.6 TOTAL ASSETS 2.2 HOUSEHOLDS 5.3 U.S. GOVERNMENT 6.7 SPONS. CREDIT AGENCIES (1) 7.5 COMMERCIAL BANKS 5 6 7 8 9 19.2 8.6 10.6 20.7 9.5 11.2 22.2 10.5 11.7 24.0 11.8 12.2 26.4 13.8 12.6 31.7 17.4 14.4 36.3 20.8 15.5 39.4 22.6 16.8 41.0 23.7 17.3 SAVINGS INSTITUTIONS SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS 10 11 12 10.3 4.5 - 11.7 5.0 - 12.8 5.4 .1 14.1 6.0 .4 16.1 6.8 1.0 16.8 7.1 1.8 17.2 6.8 2.9 18.4 6.7 3.7 20.0 7.0 3.9 LIFE INSURANCE COMPANIES S. ♦ L. GOVT., RTR. FUNDS REITS 13 14 15 - COMMERCIAL MORTGAGES 1 2 3 4 5 46.2 12.0 3.4 30.8 50.0 13.1 3.7 33.3 54.5 14.2 4.0 36.2 - 60.1 15.5 4.5 40.2 64.8 16.7 4.8 43.3 71.4 17.8 5.3 48.1 .1 76.9 19.1 5.8 51.8 •3 82.3 20.5 6.1 55.3 •4 92.4 21.7 7.0 63.2 .5 107.5 23.1 8.4 75.2 .8 124.7 24.5 9.9 89.3 1.0 136.3 TOTAL LIABILITIES 25.9 HOUSEHOLDS 10.9 NONFARM NONCORP. BUSINESS 98.4 CORPORATE BUSINESS REITS 1.1 1 2 3 4 5 6 7 8 9 46.2 11.8 * 10.6 50.0 11.3 ♦ 12.4 54.5 10.7 * 14.4 60.1 11.3 * 16 .4 64.8 11.5 * 17.9 71.4 11.6 * 20.5 76.9 11.9 ♦ 22.1 82.3 11.8 ♦ 23.3 92.4 11.2 ♦ 26.3 107.5 10.0 31.8 124.7 10.1 — 38.7 136.3 TOTAL ASSETS 10.3 HOUSEHOLDS U.S. GOVERNMENT 43.5 COMMERCIAL BANKING 6 7 8 9 10 11 12 9.5 6.1 3.5 11.1 7.1 4.0 12.4 8.0 4.5 13.4 8.4 5.0 14.7 9.0 5.7 16.6 10.0 6.6 17.9 10.6 7.3 19.4 11.5 7.9 23.5 14.6 8.9 28.7 18.4 10.4 33.6 21.5 12.1 37.2 24.1 13.1 SAVINGS INSTITUTIONS SAVINGS + LOAN ASSNS. MUTUAL SAVINGS BANKS 10 11 12 13 14 15 14.1 •1 15.1 •1 16.8 .1 18.8 •1 20.5 .2 22.4 •2 .1 24.2 .2 .5 26.0 .2 1.5 28.5 •2 2.6 31.9 •2 4.9 34.8 •2 7.4 37.6 •2 7.5 LIFE INSURANCE COMPANIES OTHER INSURANCE COMPANIES REITS 13 14 15 - - FARM MORTGAGES 1 16.8 18.9 21.2 23.3 25.5 27.5 29.5 31.2 32.9 35.4 38.8 43.8 TOTAL LIABILITIES 1 2 3 4 5 6 7 8 16.8 6.7 •6 3.3 2.3 •1 3.8 18.9 7.6 •6 3.7 2.6 •1 4.3 21.2 8.5 •6 4.3 2.9 •1 4.8 23.3 9.3 •6 5.0 3.1 •1 5.2 25.5 10.2 •5 5.6 3.4 •1 5.6 27.5 11.2 •5 6.1 3.8 •1 5.8 29.5 12.4 .5 6.7 4.0 •1 5.8 31.2 13.5 .4 7.2 4.4 •1 5.6 32.9 14.7 .4 7.9 4.2 •1 5.6 35.4 15.4 •4 9.1 4.8 •1 5.7 38.8 15.6 .7 11.1 5.4 •1 6.0 43.8 TOTAL ASSETS 16.8 HOUSEHOLDS .9 U.S. GOVERNMENT 13.9 SPONSORED CREDIT AGENCIES 5.9 COMMERCIAL BANKS .1 MUTUAL SAVINGS BANKS 6.3 LIFE INSURANCE COMPANIES 2 3 4 5 6 7 8 (1) INCLUDES MORTGAGE POOLS BACKING GNMA—GUARANTEED SECURITIES MAY 1975 OTHER LOANS 12 OTHER LOANS 12 OPEN-MARKET PAPER AND OTHER LOANS (BILLIONS OF DOLLARS) YEAR-END OUTSTANDINGS 1963 1964 YEAR-END OUTSTANDINGS 1965 1966 1967 1968 1969 1970 1971 1972 1973 1974 OTHER LOANS — SECTOR TOTALS 1 2 3 4 5 6 7 8 61.2 50.6 9.2 2.9 9.3 8.8 2.2 18.2 69.8 56.5 10.1 3.1 10.8 9.8 2.5 20.2 78.3 61.7 11.0 3.5 12.4 10.5 2.8 21.5 87.9 67.3 11.9 3.9 14.1 11.7 3.4 22.3 94.3 74.5 13.3 4.5 14.7 13.2 3.6 25.3 107.5 83.0 15.3 4.7 15.8 16.0 4.0 27.3 137.3 98.3 18.3 5.3 17.2 23.1 4.7 29.7 143.2 107.9 20.9 5.9 18.2 26.3 4.8 31.7 147.4 112.9 22.3 6.7 18.7 26.3 5.2 33.8 158.5 119.1 23.6 7.1 19.1 28.8 5.5 34.9 187.4 130.9 26.1 8.4 20.9 30.8 5.9 38.9 9 10 11 12 13 14 10.6 4.8 5.8 - 13.4 .1 •6 5.3 7.3 - 16.5 •3 1.7 6.0 8.5 - 20.6 .1 1.5 6.9 12.0 19.8 * 1.3 4.4 14.1 24.5 •3 2.3 5.3 16.6 - 39.0 8.2 9.3 21.5 35.3 3.0 10.6 21.7 34.5 3.7 7.9 22.1 .8 39.5 6.1 8.0 22.1 3.2 56.5 11.7 15.1 25.7 4.0 15 16 17 18 61.2 •1 4.6 26.3 69.8 * 6.9 29.2 78.3 * 8.4 32.0 87.9 2.8 8.0 34.3 94.3 •6 12.0 38.0 107.5 1.4 17.1 41.3 137.3 6.1 22.5 44.7 143.2 4.6 19.6. 47.2 147.4 .7 22.9 49.7 158.5 2.2 25.3 52.9 187.4 5.7 33.1 56.5 19 20 21 22 23 24 25 7.7 .2 3.4 •3 7.0 10.2 1.4 8.5 .1 4.1 .4 7.4 11.7 1.6 9.6 .2 3.8 .3 8.0 14.0 2.0 11.1 •2 3.7 .5 9.5 15.6 2.2 9.3 •2 5.8 .4 10.5 15.2 2.2 10.5 •1 4.4 .5 11.8 17.7 2.8 15.3 •1 4.9 •8 15.2 23.9 3.8 17.6 .1 6.9 1.2 18.2 23.6 4.3 15.6 .3 7.7 1.6 19.8 25.1 4.1 16.4 •1 7.5 1.5 21.0 27.6 4.1 24.9 .1 6.7 2.1 23.2 30.6 4.4 - 222.1 TOTAL LIABILITIES 159.0 NONFINANCIAL SECTORS 29.0 HOUSEHOLDS 10.3 FARM BUSINESS 23.1 NONFARM NONCORP. BUSINESS 42.3 CORPORATE BUSINESS 6.7 STATE ♦ LOCAL GOVERNMENTS 47.6 REST OF THE WORLD 63.1 .7 11.0 21.8 28.7 1.0 FINANCIAL SECTORS SPONSORED CREDIT AGENCIES COMMERCIAL BANKING SAVINGS + LOAN ASSNS. FINANCE COMPANIES REITS 222.1 TOTAL ASSETS 4.1 HOUSEHOLDS 35.3 CORPORATE BUSINESS U.S. GOVERNMENT 62.1 34.2 1.0 9.2 2.9 26.3 35.9 11.0 SPONSORED CREDIT AGENCIES MONETARY AUTHORITIES COMMERCIAL BANKING MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES FINANCE N.E.C. REST OF THE WORLD 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 OPEN-MARKET PAPER —— — ——— —— ——— — 1 9.7 12.4 14.4 18.7 22.7 28.0 42.0 40.8 41.8 45.1 56.7 70.3 TOTAL LIAB., BY TYPE + SECTOR 1 2 3 4 5 4.9 — 4.9 6.2 6.2 - 7.4 — 7.4 - 10.6 10.6 12.2 — 12.2 14.0 14.0 20.8 3.0 17.8 20.4 1.9 18.5 20.7 1.5 18.9 •3 22.5 1.7 19.3 1.5 28.0 3.6 23.4 1.0 31.6 6.1 25.3 .2 DIRECTLY-PLACED PAPER BANK AFFILIATES FINANCE COMPANIES REITS 2 3 4 5 6 7 8 9 10 1.9 1.0 1.0 - 2.2 1.1 — 1.1 1.9 •8 — 1.1 - 3.1 1.6 1.5 - 4.9 3.0 1.9 - 7.2 4.5 2.7 11.8 6.9 1.2 3.7 - 12.7 9.0 .4 3.2 - 11.4 7.3 .5 3.2 .5 12.2 6.7 .9 2.8 1.7 13.1 6.5 1.3 2.2 3.0 16.5 11.2 1.2 3.4 •8 DEALER-PLACED PAPER CORPORATE BUSINESS BANK AFFILIATES FINANCE COMPANIES REITS 6 7 8 9 10 11 12 13 14 15 2.9 .7 .3 .3 2.2 3.4 .8 .4 •4 2.6 3.4 .9 .4 •4 2.5 3.6 1.1 .5 .5 2.5 4.3 1.3 .7 .7 3.0 4.4 1.6 •8 •8 2.9 5.5 2.3 1.1 1.1 3.2 7.1 3.1 1.5 1.5 4.0 7.9 3.6 1.8 1.8 4.3 6.9 3.7 1.8 1.8 3.2 8.9 3.4 1.7 1.7 5.5 18.5 6.0 3.0 3.0 12.5 BANKERS’ ACCEPTANCES NONFINANCIAL BUSINESS NONCORPORATE CORPORATE REST OF THE WORLD 11 12 13 14 15 16 - .6 1.7 1.5 1.3 2.3 4.0 .7 1.7 3.5 6.8 3.7 NONBANK CREDIT TO BANKS IN SECURITY RP’S 16 17 9.7 12.4 14.4 18.7 22.7 28.0 42.0 40.8 41.8 45.1 56.7 70.3 TOTAL HOLDINGS, BY SECTOR 17 18 19 20 21 •1 4.6 4.6 - * 6.9 6.3 .6 * 8.4 6.7 1.7 2.8 8.0 6.5 1.5 •6 12.0 10.7 1.3 1.4 17.1 14.8 2.2 6.1 22.5 18.9 3.6 4.6 19.6 19.4 .2 .7 22.9 21.8 1.1 2.2 25.3 22.6 2.7 5.7 33.1 27.9 5.3 4.1 35.3 32.8 2.5 HOUSEHOLDS CORPORATE BUSINESS COMMERCIAL PAPER SECURITY RP’S 18 19 20 21 22 23 24 25 26 .2 2.5 •3 .3 .1 3.1 •4 •4 •2 2.7 .3 .3 - .2 3.7 .5 .5 •2 5.8 .4 .4 - •1 4.4 •5 •4 .1 .1 4.9 •8 .5 •3 •1 6.9 1.2 .7 .4 .3 7.7 1.6 1.0 .7 .1 7.5 1.5 .7 •8 •1 6.7 2.1 .6 1.5 1.0 9.2 2.9 1.7 1.2 MONETARY AUTHORITIES COMMERCIAL BANKING MUTUAL SAVINGS BANKS COMMERCIAL PAPER SECURITY RP’S 22 23 24 25 26 27 28 29 .4 •2 1.4 .3 •1 1.6 •3 .5 2.0 •4 1.0 2.2 .5 1.0 2.2 .5 1.2 2.8 1.4 2.4 3.8 2.1 2.1 4.3 2.8 1.7 4.1 3.0 1.4 4.1 3.0 1.6 4.4 3.4 3.4 11.0 LIFE INSURANCE COMPANIES INVESTMENT COMPANIES REST OF THE WORLD 27 28 29 OTHER TYPES 1 2 3 10.0 3.7 6.3 11.6 4.6 7.0 13.5 5.9 7.6 14.6 7.1 7.5 14.3 7.0 7.2 16.5 7.5 9.0 21.5 8.1 13.3 21.6 7.9 13.7 23.3 7.7 15.6 26.1 7.8 18.4 29.0 8.6 20.4 32.5 FINANCE CO. LOANS TO BUSINESS 7.7 LI AB.-NONCORPORATE BUSINESS 24.8 CORPORATE BUSINESS 4 5 6 7 8 9 10 11 25.8 1.2 •8 4.4 1.2 2.2 16.0 28.6 1.4 .9 4.8 1.4 2.5 .1 17.5 31.4 1.6 .9 5.0 1.7 2.8 .3 19.0 33.5 2.1 .9 5.2 2.0 3.4 •1 19.8 37.2 2.4 1.1 5.6 2.2 3.6 ♦ 22.3 40.5 3.2 1.0 5.9 1.7 4.0 •3 24.4 43.9 3.6 1.0 6.2 1.8 4.7 26.5 46.2 3.9 1.0 6.8 2.1 4.8 27.7 48.7 4.2 1.0 7.1 1.6 5.2 29.5 51.9 4.6 1.1 7.2 1.8 5.5 31.7 55.5 4.9 1.2 8.0 2.2 5.9 33.4 4 61.1 U.S. GOVERNMENT LOANS 5.1 LIAB.-HOUSEHOLDS 5 1.5 FARM BUSINESS 6 8.9 NONFARM NONCORP. BUS. 7 CORPORATE BUSINESS 3.2 8 6.7 9 S. * L. GOVERNMENTS .7 SPONS. CREDIT AGENCIES 10 35.1 REST OF THE WORLD 11 1 2 3 12 7.7 8.5 9.6 11.1 9.3 10.5 15.3 17.6 15.6 16.4 24.9 13 14 15 2.1 .8 4.8 2.2 1.0 5.3 2.5 1.1 6.0 2.9 1.3 6.9 3.4 1.5 4.4 3.7 1.6 5.3 4.3 1.7 9.3 5.0 2.0 10.6 5.7 2.0 7.9 6.1 2.3 8.0 7.2 2.6 15.1 34.2 SPONSORED CREDIT AGENCY LOANS 12 LIABILITY OF— 8.8 FARM BUSINESS (FICB) 13 3.6 NONFARM NONCORP. BUS. (BC) 14 21.8 S+L ASSOCIATIONS (FHLB) 15 16 17 18 7.2 •6 6.7 7.8 •6 7.1 8.3 .7 7.7 9.8 .7 9.1 10.8 .8 10.1 12.1 •8 11.3 14.7 .9 13.8 17.0 1.0 16.1 18.0 1.0 17.1 19.0 1.0 18.0 21.2 1.0 20.2 23.9 POLICY LOANS (HH LIABILITY) 1.0 ASSET-U.S. GOVERNMENT 22.9 LIFE INSURANCE COS. 19 .8 1.0 1.1 - - - - - - - - - HYPOTHECATED DEP. (HH LIAB.) ASSET-COMMERCIAL BANKS 16 17 18 19
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