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F / F Seas Adj JK/72 November 7, 1972 Flow of Funds, Seasonally Adjusted 3rd Quarter, 1972 Prel iminary Division of Research and Statistics Board of Governors of the Federal Reserve System Washington, D.C. 20551 TABLE LIST SUMMARY TABLES 1. 2 . 3. Income and Product Distribution Funds Raised in Credit Markets Private Domestic Net Investment and Borrowing in Credit Markets Credit Market Supply of Funds SECTOR TABLES 4. Households 5. Total Nonfinancial Business and Noncorporate Business 6. Nonfinaneial Corporate Business 7. Governments 8 . Banking System 9. Commercial Banking Subsectors 1 0 . Nonbank Finance Summary Savings Institutions 1 1 . Insurance and Pension Funds 1 2 . Finance N.E.C. 13. Rest of the World TRANSACTION TABLES 14. Monetary and Insurance Reserves Interbank Claims 15. Money and Deposits 16. Money Supply Relation to Other Data 17. U.S. Government Securities 18. Private Securities and Mortgages 19. Mortgages by Type 2 0 . Consumer Credit and Bank Loans N.E.C. 2 1 . Bank Credit Relationship to Other Data 2 2 . Other Loans, Including Open-Market Paper 23. Security Credit, Trade Credit, and Taxes 24-25. Miscellaneous Financial Claims 26. Total Claims--Recapitulation by Type 27. Saving by Individuals 28. Discrepancies <___________ Flow of Funds A c c ounts, Third Quarter 1972 These tables give first estimates for third-quarter 1972 financial-flow accounts based on preliminary and incomplete information. The tables show the accounts as seasonally adjusted annual rates. A separate publication presents the same set of tables as unadjusted quarterly flows. Also available are two historical supplements giving year-total flows 1945-71, and year-end outstanding assets and liabilities 1945-71. Requests for these publications or to be put on the mailing list should be addressed to the Flow of Funds and Savings Section, Room 3222, Division of Research and Statistics, Board of Governors of the Federal Reserve System, Washington, D.C., 20551. The third-quarter 1972 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 and current assets and liabilities of corporations. The 'lack of these data weakens the figures for total credit flows, household investment in securities, and distribution of liquid assets as between households and businesso Also missing at the time the accounts were put together were balance of p a y ments statistics, final income-and-product data, end-of-quarter balance sheets for insurance companies, mutual savings banks, pension funds, and investment companies, and the Treasury survey of ownership of Federal securities. Corrected Footnotes to Page 3 . Line 1 . Total funds raised, page 2, excluding corporate e quities. 2 . Sum of lines 3-6 or 7-10. 6 . Includes farm and commercial mortgages. 1 1 . 1 2 . Credit market funds raised by Federally sponsored credit agencies. Included below in lines 13 and 33. Includes all GNMA-guaranteed security issues backed by mortgage p o o l s . Line 1 less line 2 plus line 11. Also line 19 less line 26 plus line 32. Also sum of lines 27 through 41 excluding subtotals. 17. Includes farm and commercial mortgages. 25. Lines 39 + 41. 26. Excludes equity issues and investment company shares. Includes line 18. 28. Foreign deposits at commercial banks, bank borrowings from foreign branches, and liabilities of foreign banking agencies to foreign affiliates. 29. Demand deposits at commercial banks. 30. Excludes net investment of these reserves in corporate equities. 31. Mainly retained earnings and net miscellaneous liabilities. 32. Line 12 less line 19 plus line 26. 33-37. Lines 13-17 less amounts required by private finance. Line 37 includes mortgages. 39+41. See line 25. 42. Mainly an offset to line 9. 43. Lines 32 + 38 or line 12 less line 27 less line 42. 44. Line 2 /line 1. 45. Line 19/line 12. 46. Lines 10 plus 28. Corporate equities Line 1 and 3 Includes issues by financial institutions. 7 N O V C N K R 1972 INCOME ANO PRODUCT DISTRIBUTION INCOME 1 INCOME SEASONALLY ADJUSTED 1968 YEAH 1969 AND PRODUCT ACCOUNTS! GNP EXPENDITURES (BILLIONS OF DOLLARS) ANNUAL RATES TOTALS 1970 1971 AND ANO PRODUCT GROSS SEASONALLY 1 1 1970 IV 1971 1 1 I II III IV 1 1 I DISTRIBUTION SAVING AOJUSTED 1972 II 1 ANNUAL RATES III I 864.2 930.3 976,4 1050.4 989.7 1023,4 1043,0 1056,9 1078.1 1109.0 1139,3 1162,2 2 3 4 5 6 735.7 100.8 96.8 536.2 84.0 789.4 111,2 98,8 579,5 90,8 835,8 122,5 96,5 616,8 90,5 897.7 135.0 97.8 664.9 103,5 849,1 127,6 95,0 626,5 87,5 875,0 130,8 96,2 648,0 99,8 889,9 133,3 96,3 660,4 101,9 904,3 135,7 97,9 670.7 106,1 9 2 1 .4 140.2 100.7 680.5 106.1 945.5 143.7 105.7 696.1 111.0 967,5 146,0 108,1 713,4 113,9 984,7 150,4 106,2 728,1 118,4 CURRFNT OUTLAYS STATE ANO LOCAL GOVT, U , S, G O V E R N M E N T HOUSEHOLDS OF WHI C H C O N S U M E R D U RABLES 7 126.0 139,0 137.1 152,0 137,8 143,9 153,0 152.2 158.8 168.1 177,0 180,9 GROSS 8 9 10 11 12 118.9 30.1 22.0 21.1 .5 131,1 32,6 22,1 22,0 ,6 132,2 31,2 20,4 19,6 ,5 148,3 42,6 28,3 25,8 ,6 132,1 33,6 23,0 20,7 ,6 139,0 37,0 25,7 22,3 ,5 146,4 41,4 27,4 25,3 ,5 150.9 44,5 29,6 26,7 ,7 157.1 47.3 30.3 29.2 .6 167.7 51.6 33.3 29.6 .6 172,0 52,8 34,0 32,4 •6 175,2 54,2 35,9 33,4 ,8 13 14 15 .4 .2 .2 -.5 J -.3 ,3 ,2 ,2 1,9 .9 .9 1,6 ,8 ,8 3,0 1,5 1,5 1,6 ,8 ,8 2,2 1,1 1,1 .6 .3 .3 3.1 1.5 1,5 1,0 ,5 ,5 1,8 ,9 ,9 16 17 18 8.1 2.1 5.9 10,6 3,3 7,3 10,8 3,2 7,6 14 . 3 4.3 10.0 10,7 3,2 7,5 11,3 3,4 7,9 14,0 4,3 9,7 15,0 4,5 10,4 17.0 5.2 11.8 18,3 5,6 12,7 18,8 5,9 12,9 18,3 5,4 12,9 19 20 21 22 23 24 88.8 4.5 5.7 9.8 1.3 67,4 98, b 5,1 5,9 10,6 2,6 74,3 100,9 5,3 6,5 10,6 2.1 76.5 105.8 5.6 7.3 11.5 2,6 78,8 98,5 5,2 6,4 10,6 2,3 74,0 101,9 5,3 6,9 11,1 2,3 76,4 105,0 5,7 7, 1 11,3 2,3 78,6 106,3 5,7 7,7 11,6 2,6 78,8 109.8 5.8 7.6 11.8 3.1 81.5 116,1 6,0 7.9 12.0 1.8 88.4 119,2 6,0 8,4 12,2 2.4 90,2 121.0 6.2 8,5 12,2 2,4 91,8 25 26 27 28 29 7.1 ,1 6,9 ,5 6,4 7,8 .1 7.7 1.0 6,7 4,9 ,1 4,8 ,1 4,8 3,6 1,2 2,4 1,3 1, 1 5,7 ,1 5,6 -.7 6,3 4,9 ,9 3,9 2,9 1,0 6,6 1,5 5,1 1, 1 4,0 1,3 1.6 -.2 1,0 -1,2 1.7 .9 .8 ,1 .7 ,4 ,3 ,1 ,7 -.7 5,0 .7 4.3 .7 3.6 5.7 ,4 5.3 .5 4.8 30 31 32 2.5 50,6 48,1 1,9 55,5 53,6 3,6 62,9 59,3 ,7 66,1 65,4 2,8 63,2 60,4 4,5 66,3 61,8 ,1 66,7 66,6 ,4 68,5 68,2 -2.1 63,0 65,1 -4,6 70.7 75,3 -5.2 70.0 75.2 -3.4 75.0 78.4 33 34 35 591,0 39,8 6,7 634,4 38,2 6,0 689,5 54,8 8,0 744,4 60,9 8,2 704,0 59,2 8,4 725,7 59,3 8,2 742,9 64,1 8,6 750,4 61,0 8,1 758.5 59.3 7.8 770.6 55.7 7.2 782.7 50.2 6.4 798.7 51,3 6,4 personal 36 37 -6,5 -.3 8,1 .7 -12,9 2,8 -21,7 4,8 -19,7 ,9 -16,0 2,0 -23,0 5,0 -23,1 6.2 -24.7 6.0 -14.8 7,1 -21.7 14.8 -12,3 9,5 FEDERAL GOVT. STATE I LOCAL 38 39 40 41 42 87.6 .1 4.0 11.3 72.2 84,9 ,1 4,5 12,4 67,9 74,3 - ,I 4.7 14.5 55,1 83,3 .1 5.8 16,7 60,7 69,6 -.1 4,7 16.1 48,9 81.3 • 4.8 16.6 59,9 84,5 » 6,3 16,4 61,7 84,1 ,1 5,0 17,0 62,0 83.2 .1 7.1 16.6 59.3 88,2 ,2 5,3 16,5 66,3 CORPORATE PROFITS* TAXES* AND DIVIDENOSl 91,6 99,0 PROFITS - TOTAL ,2 FARMS .2 5,7 FOREIGN 6.0 17,5 17.8 FINANCIAL CORPS. 68,2 75.0 NONFINAN. CORPS. 38 39 40 41 42 43 44 45 46 39,9 .1 5.8 34.0 40,1 ,1 6,4 33,6 34.1 .1 7.2 26,8 37.3 .1 7.9 29.4 32.2 ,1 7,8 24,3 38,0 ,1 8,0 29,9 38,6 .1 7.8 30.8 37,5 .1 8,0 29,4 35.3 ,1 7,8 27,3 38.8 .1 7.7 31.0 40,1 .1 8.0 32.0 43,5 .1 8.2 35.2 TAX ACCRU A L S - TOTAL FARMS FINANCIAL CORPS. NONFINANCIAL 43 44 45 46 47 48 49 50 51 23.6 .1 1.5 1.2 20.8 24,3 .1 2.0 1.6 20,7 24,8 • 2,4 2,5 19,9 25.4 • 3.3 2.7 19.5 24,7 • 2,4 2,8 19,5 25,5 • 2,5 2,8 20,1 25,4 * 3,6 2.7 19,2 25.5 • 2.8 2.7 20.0 25.2 • 4.1 2.5 18.5 26,0 • 3,0 2,8 20,2 26.2 • 3.2 2.8 20.2 26.5 • 3.3 2.8 20.3 DIVIDENDS - TOTAL FARMS NET FOREIGN FINANCIAL CORPS. NONFINANCIAL CORPORATIONS 47 48 49 SO 51 52 53 54 55 56 57 58 59 24.2 • 2.5 4.3 17.5 -3.3 2.5 16.6 20,5 • 2,5 4,5 13,6 -5,1 2,5 10,9 15,4 -.2 2,3 4.7 8,4 -4,4 2,3 6,4 20.5 • 2.6 6.1 11.9 -4.7 2.6 9.8 12,7 -.2 2.2 5,5 5,1 -2,8 2,2 4,6 17.7 -.1 2.2 5,8 9,8 -4,7 2,2 7,3 20,4 -.1 2,8 5.9 11.8 -4,4 2,8 10,2 21.0 • 2.2 6.2 12,6 -5,8 2,2 9,0 22.7 • 3.0 6.3 13.4 -3.9 3.0 12.6 23,4 • 2,3 6,1 15,0 -6,5 2,3 10,9 25.3 • 2.5 6.7 16,0 -5,5 2.5 13.0 29.0 .1 2.7 6.8 19.5 -6.1 2.7 16.1 U N O I S T . PROFITS - TOTAL FARMS FOREIGN BRANCH PROFITS FINANCIAL CORPORATIONS NONFINANCIAL CORPORATIONS ♦ I N V E N T O R Y VAL. ADJ. ♦ BRANCH PROFITS « NONFIN. CORPS.*NET 52 53 54 55 56 57 56 59 60 61 62 63 64 65 66 67 68 74.5 8,3 1,5 6,0 11.9 46.8 1.5 .3 45.1 81,6 8,7 1.6 6.2 13.1 51.9 1.7 ,3 49,9 86,3 9,0 1,7 6,4 14,2 55.2 2.1 .4 52.7 93,8 9,4 1.8 6.8 15,5 60,3 2,5 .4 57.3 87,9 9,1 1.7 6,4 14,5 56,1 2,3 .4 53.5 90,2 9,3 1.8 6,6 15,0 57,5 2,4 .4 54,8 92,4 9,3 1,8 6,7 15,3 59,4 2,5 .4 56.5 95,0 9,4 1,8 6,9 15,7 61.2 2,6 .4 58.2 97.4 9.5 1.8 7.0 16.1 63,0 2,7 ,4 59,9 99.7 9.6 1.9 7.0 16.4 64,8 2,6 ,5 61,7 105.3 11,0 1,9 7,1 17,4 68.0 2.8 .5 64.8 69 70 67.4 141.9 74,6 156.1 80.6 167.0 87.3 181.1 83.1 171.0 84,8 175,0 86,4 178,9 88,1 183,1 90,0 187,4 91,7 191,5 93.5 198.9 71 -2.7 -6,1 -4.7 -4.5 -1.0 -3,2 -4,8 -5,5 -4,3 -4,9 -.5 -2.1 STATISTICAL 72 73 45.5 14.2 47,2 15,5 46.0 14.5 44.9 13.6 46.3 14.1 46,8 13,4 45,7 13,4 44,6 13.5 42,4 14,0 43,9 15,0 43.8 15,1 43.9 15.0 P R O F I T T A X R A T E (ft) P E R S O N A L T A X R A T E (ft) I I 1/ 72 IS B A S E D O N P R E L I M I N A R Y A N D I N C O M P L E T E INFORMATION, TOTAL GNP 1 DOMESTIC INVESTMENT PVT, FIXEO INVESTMENT ‘R E S I D E N T I A L C O N S T R U C T I O N 1-4 F A M I L Y 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 PROCESS ON N O NFARM corporate noncorporate MULTI-FAMILY CORPORATE UNITS business noncorporate business NONRES, PLANT ♦ EQUIP, N O N P ROFIT INST.(HH) FARM NONFARM NONCORP. BUSINES financial corporations NONFINANCIAL CORPORATION INVENTORIES FARM NONFARM NONCORPORATE CORPORATE SAVING 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 NET EXPORTS EXPORTS IMPORTS DISPOSABLE 2 3 4 5 6 30 31 32 PERSONAL INCOME (PERCENT) 33 34 35 SURPLUS GOVT. SURPLUS 36 37 saving RATE 104,1 TOTAL C A P I T A L C O N S U M P T I O N 9,8 o w n e r -o c c u p i e d h o m e s <MH) 1,9 NONPROFIT INST.(HH) 7.0 FARM NONCORPORATE 17.0 N O N F A R M N O N C O R P O R A T E BUS. 68.4 TOTAL CORPORATE 2.9 FINANCIAL BUSINESS .5 CORPORATE FARMS 64.9 NONFINANCIAL CORPORATIONS MEMO! CAP. CONS. ON CONSUMER DU R A B L E S 95.3 NOT INCLUDED ABOVE 199.4 TOT CAP . C O N S . INCL D U R A B L E S DISCREPANCY 60 61 62 63 64 65 66 67 68 69 70 71 72 73 T NOVEM B E R 1972 CREDIT MARKET SUMMARY CREDIT 2 TOTAL SEASONALLY ADJUSTED ANNUAL 1968 YFAR 1969 TOTALS 1970 FUNDS , RAISED MARKET RATES SECTORS SEASONALLY 1 | 1W71 I. SUMMARY IN C R E D I T M A R K E T S R Y N O N F I N A N C I A L ( B I L L I O N S OF D O L L A R S ) FUNDS 1970 IV 1 | 1971 I R A I S E O '. B Y II TYPE AND I 1 IV III ADJUSTED 1972 II I <' ANNUAL II I 97.8 91.7 101,6 156,3 118.3 115,8 170,0 173,7 164,1 146.5 166.8 163.0 2 3 4 13,4 10.3 3,1 -3,6 -1,3 -2,4 12,8 1? ,9 -.1 25,5 26,0 -.5 18,0 16,5 1 ,5 3,9 6,8 -2,9 40,6 40,9 -.2 25,9 25,6 .3 31,4 30,6 ,8 6,6 4,3 2,2 16.3 14.8 1.5 10.6 7.7 3.0 5 6 7 84,4 -.7 85.1 95,3 4 ,b 90,6 AS.8 6.8 «1,9 130,8 13,5 117,4 100,3 9,9 90,4 112,0 9,2 102,7 129,3 16,1 113,2 147,9 17,0 130,9 132,7 11,4 121,2 139,9 10,3 129,6 150.5 15.9 134.6 152.4 11.3 141.1 8 9 10 11 12 13 14 IS 51.3 10.1 14.0 27.3 15.2 3.5 6.6 2.1 49,0 7,9 13.1 27.9 15.7 4,8 5,5 1.9 60,8 13,8 21.1 25,8 12,8 5,9 5,4 1.8 87,5 20,2 20,3 47,0 26,1 8,8 10.1 2.0 76,0 21,5 24.9 29,7 14.1 6.8 6.8 2.1 82,5 24.5 25.2 32.8 15.4 • 7.4 7.7 2.2 86,6 19,6 21,2 45,8 25.3 9.8 9.4 1.3 89,7 19,2 15.9 54,6 32,1 8,8 11.5 2.2 91,2 17,7 18,8 54,6 31,4 9,3 11,7 2,3 84,1 16,7 12.9 54,4 30.2 8.7 12.9 2.6 94.7 14.3 14.7 65.8 38.1 9.9 14.9 2.9 101.7 17.6 13.3 70.9 42.1 10.6 15.3 2.8 16 17 18 19 20 33.8 13.8 11.1 1.6 7.3 41.6 16.8 9.3 3.3 12.2 21,1 5,0 4,3 3,8 8,0 29,9 13,0 10,4 -.4 6.9 14.4 -.1 .4 8.2 6.0 20.2 2.4 4.0 1.9 11.9 26,6 13.4 9.0 -2.7 6.9 41.1 23,6 12,6 2,2 2.8 30,1 12.4 14,5 -3,0 6,1 45,5 20,1 13.9 2.9 8,6 39.8 17.7 17.5 .3 4.2 39.4 22.2 18.6 -5.5 4.1 21 22 23 24 25 26 27 2B 84,4 3.1 10.4 31.9 39.1 30.7 5.7 2.7 95.3 3.3 8.7 32.6 50.8 40.2 7.4 3.2 88.8 3.0 13.9 22.3 49.5 39,8 6,4 3,2 130.8 5.6 20.6 41.6 63.0 48.6 10.3 4.1 100.3 5.1 21.7 16.6 54.9 44.1 7.5 3.2 112.0 4.2 24.9 23*4 59.5 45.5 10.4 3.6 129.3 6.8 19.3 39.6 63.6 48.5 11.5 3.6 147.9 8.0 20.2 46.8 72.9 57.5 10.6 4.9 132,7 3,6 18,0 55.1 55,9 42.8 8,8 4,3 139,9 4,2 17,8 50.7 67,2 51.5 11.8 3.9 150.5 1.5 14.7 60.9 73.3 57*5 10.9 4.9 152.4 1.0 18.0 69.1 64.4 50.0 10.2 4.1 29 -1.1 .4 2,7 3.3 4.5 -14.8 12.7 3.4 11.8 30 31 99.0 14.5 91.3 -4.0 98,9 10,1 153.1 22.2 113.8 13.5 130.6 18.7 157.2 27.9 170.4 22.5 152.3 19.6 -10.8 TOTALS 157,3 17.3 DOMESTIC NET INVESTMENT AND RATES SECTOR 1 PRIVATE 2 BORROWING IN C R E D I T TOTAL FUNDS RAISED BY N O N F I N A N C I A L S E C T O R S U. 1 S. G O V E R N M E N T PUBLIC DEBT SECURITIES BUDGET AGENCY ISSUES ALL 2 3 4 OTHER NONFIN. SECTORS CORPORATE EQUITY SHARES DEBT INSTRUMENTS 5 6 7 DEBT CAPITAL INSTRUMENTS S T . * L O C A L GOVT. SEC* C O R P O R A T E ♦ FGN. BONDS MORTGAGES HOME MTGS. OTHER RESIDENTIAL COMMERCIAL FARM 8 9 10 11 12 13 14 15 OTHER PRIVATE CREDIT BANK LOANS N.E.C. CONSUMER CREDIT OPEN-MARKET PAPER OTHER 16 17 18 19 20 BY B O R R O W I N G S E C T O R FOREIGN STATE*LOCAL GOVTS. HOUSEHOLDS NONFINANCIAL BUSINESS CORPORATE NONFARM NONCORPORATE FARM 21 22 23 24 25 26 27 28 .7 -3.6 MEMOt U.S.GOVT* CASH BALANCE N E T O F C H A N G E S IN U . S . G O V T . C A S H B A L A N C E S — 1 6 6 .1 166.7 TOTAL FUNDS RAISEO BY U.S. GOVERNMENT 15.6 14.2 29 30 31 MARKETS I 2 3 208.7 140.4 68.3 227,1 154.4 72.7 225,5 164,9 60,6 252,9 178,5 74.3 223.0 168.8 54.2 241,4 172.6 68.8 252,6 176,4 76,2 255,7 180.5 75.2 261,8 184,7 77,1 277,4 188.8 88.6 288.5 196.1 92.4 TOTAL# H O U S E H O L D S AND BUSINESS 296.9 T O T A L C A P I T A L O U T L A Y S (1) C A P I T A L C O N S U M P T I O N (2) 196.5 100.4 NET PHYSICAL INVESTMENT 1 2 3 4 5 71.0 -2.7 83,3 -10,6 71,8 -11,2 104.6 -30.3 73.5 -19,3 82.9 -14.1 103.2 -27.0 119.7 -44.6 111,0 -33,9 117.9 -29,4 134.3 -41,9 133.5 -33.1 NET FUNDS RAISED EXCESS NET INVESTMENT 4 5 6 7 8 99.0 63.2 35.8 109,3 69,5 39.7 110,1 73,6 36,6 118.0 80.0 37.9 109,5 74,8 34.7 114.1 76,7 37,4 119.8 78.8 40.9 117.2 81.2 36.1 120,8 83.4 37.3 130.7 85.6 45.1 136,1 89.7 46.4 139.0 89.5 49.4 TOTAL BUSINESS TOTAL CAPITAL OUTLAYS CAPITAL CONSUMPTION NET PHYSICAL INVESTMENT 9 10 11 40.0 -.8 -3.3 46.5 4.3 -11.1 42,7 6,8 -12,9 49.6 13.4 -25.1 45.3 9.6 -20.1 50.5 9.0 -22.1 47.9 15.7 -22.7 55,9 17.0 -36,8 43.8 12,1 -18,6 56.7 10.5 -22.1 57.1 16.2 -26.9 52.8 11.6 -14.9 NET DEBT FUNDS RAISED CORP. EQUITY ISSUES EXCESS NET INVESTMENT 12 13 14 76.2 45.1 31.1 84.0 49.9 34.2 84,6 52,7 31,9 85.2 57.3 27.9 84,3 53,5 30,7 82.4 54.8 27.6 87.6 56.5 31.2 83,2 58,2 25,0 87,7 59,9 27,8 94,8 61,7 33.1 100.1 64.8 35.4 102.8 64.9 37.9 CORPORATE BUSINESS TOTAL CAPITAL OUTLAYS CAPITAL CONSUMPTION NET PHYSICAL INVESTMENT 12 13 14 15 16 17 31,6 -.8 .3 35,9 4,3 -6,0 33,0 6,8 -7,9 35,1 13,4 -20,7 34,6 9,6 -13,4 36.5 9,0 -17,9 32,8 15,7 -17,3 40,5 17,0 -32,4 30,7 12,1 -15,0 41.0 10.5 -18,4 41.3 16.2 -22.1 38.4 11.6 -12.2 NET DEBT FUNDS RAISED CORP. EQUITY ISSUES EXCESS NET INVESTMENT 15 16 17 18 19 20 109,7 77,2 32.5 117,8 84,8 33,0 1 15,3 91,3 24,0 134,9 98,5 36,4 113,5 94,0 19,5 127,3 95,9 31,4 132,8 97,5 35,3 138,4 99,4 39,1 141,1 101,3 39.8 146,7 103,2 43,5 152.3 106,4 46,0 157.9 107.0 50.9 HOUSEHOLDS TOTAL CAPITAL OUTLAYS CAPITAL CONSUMPTION NET PHYSICAL INVESTMENT 21 22 31.9 .6 32.6 ,5 22.3 1.7 41.6 -S.2 18,6 ,9 23,4 R.O 39,6 -4,3 46,B -7,7 55,1 -15,3 SO.7 -7,2 60,9 -15,0 69,1 -18,2 23 24 25 26 -2,1 5.6 1,9 4.8 -2,9 7,0 2,2 5,a -1,9 S.5 2.2 4,1 -«.l 5,7 2.3 b ,2 -1.3 4,0 2,1 4,0 -1.0 11,0 2,1 4.0 -7,4 6,4 2,4 5.7 -11.8 5,4 2.^ 3.7 -12.0 1.6 2.5 7,4 -7,4 5,4 2,6 7,7 -15,6 2,8 2,6 4,8 -18,2 4,5 2,7 7,2 (3) (3) (3) NET FUNDS RAISED E X C E S S N E T I N V E S T M E N T (3) O F MfH I C H I HOUSES LESS HOME MTGS* DURABLES LESS CONS* CREDIT N O N P R O F I T PiE LESS MTGS* L E S S — UNALLOCATEO DEBT (1)CAPITAL O U T L A Y S ARE TOT A L S FOR R E S I D E N T I A L AND NO N R E S I D E N T I A L F I X F D C A P I T A L * N E T C H A N G E IN I N V E N T O R I E S * A N D C O N S U M E R D U R A B L E S * E XCEPT OU T L A Y S BY FINANCIAL BUSINESS, (2)CAPI T A L CONSUMPTION INCLUDES AMOUNTS FOR CONSUMER DURABLES AND EXCLUDES FINANCIAL BUSINESS CAPITAL CONSUMPTION. (3>EXCESS 1 1 1/72 IS H A S E H ON PR FL TMINflMY A ND INCOMPLETF INFORMATION, OF NET INVESTMENT OVER NET FUNDS RAISED. 6 7 8 9 10 11 18 19 20 21 22 23 24 25 26 7 N O V E M B E R 1972 CREDIT*MARKET SUPPLY OF FUNnS CREDIT DIRECT SEASONALLY ADJUSTED ANNUAL 1968 YEAR 1969 TOTALS 1970 1->71 98.5 86.9 94. 7 142.9 1 AND I N D I R E C T S O J R C F S OF F U N D S ( B I L L I O N S OF D O L L A R S ) RATES TO CREDIT SEASONALLY I \ 1970 IV I | 108,4 1971 I II 106,6 153,8 HI 156,7 IV 152.6 I I ANNUAL BY 2 3 4 5 6 12.2 3.4 2.8 .9 5.1 15.B .9 4.6 4.0 6.3 2P.0 IS . 7 S.7 1.3 S.2 41.2 33.4 5.7 -2.7 4.8 35,3 24,7 4,2 -.7 7,2 45,3 38,0 1,8 -1 .8 7.3 30,1 26.9 6.5 -9.8 6.5 50,2 36.7 7.7 .9 4.9 39.b 32.2 6.5 « ,8 28.7 21.0 6.3 -6.0 7.5 10.4 4.0 6.1 .6 -.3 9,6 -1,0 5,2 1,9 3,5 7 8 9 10 4.9 3.2 3.7 .3 2.9 9.0 4.2 -.3 ? •8 9.9 S.O 10.3 3.2 2.8 8.8 26.4 1.8 8.0 4.6 20.9 4.9 .9 14.1 25.3 3.9 -4.6 2.7 28.1 2.1 7 .1 8.8 32.1 1.8 7.8 9.8 20.2 3.2 7.3 3.9 14.3 1 .4 6.9 5.6 -3.4 3,3 2,8 -6,0 9,4 11 3.5 8.d 8.7 3.9 6.9 -.7 1.3 7.4 7.5 6,3 8.8 3,2 89.8 13.3 10.1 13.8 15.8 37.8 .9 79.9 4.6 7.9 12.6 15.8 43.0 4.0 7S.5 5.8 13.8 20.5 12.9 23.8 1.3 10S.5 -4.0 20.2 20.0 29.2 37.4 -2.7 80.0 ,3 21.5 24.5 16.6 16.4 -.7 60.6 -35.0 24.5 24,6 20.9 23,8 -1,8 125.0 15.2 19.6 21.4 28.5 30,5 -9,8 114.0 -3.1 19.2 15.3 33.1 50.4 .9 120.6 6.8 17.7 18.8 34.1 43.3 113,7 -8,0 16,7 12,6 32,6 53,8 -6,0 149.3 21.2 14.3 14.6 41.9 58,0 ,6 PUBLIC 145,4 15,0 17,6 13,2 47,4 54.2 1,9 75.0 39.0 15.6 13.9 6.6 54.0 18.9 14.2 12.2 8.6 70.2 31.6 16.6 17.6 4.5 105.8 49.B 41.6 12,0 2.3 76,3 38,0 23,0 13,9 1,4 100,1 43,7 46,9 11,7 -2,1 111.7 55.1 44.0 11.6 .9 92.1 43.7 38,6 9,2 .5 118.6 56.3 37.0 15.5 9.8 126,9 59,1 49,3 11,3 7,2 24 25 26 75.0 46.1 6.9 54.0 2.5 16.8 70.2 60.4 1.8 105.8 92.3 4.5 76,3 81,0 -5,7 100,1 127,0 2,3 111.7 84.5 -2.8 92,1 66,0 7,0 118.6 91.2 11.3 126,9 111,9 7, 1 125.2 87.5 7.1 139.1 106.0 16.0 27 28 29 30 31 22.0 2.6 -.2 11.2 8.4 34,7 9.3 • 10.3 15.1 H.O - H .4 ? .9 13.5 « 9,0 -3,3 2,2 8.2 1.8 1,1 -18,7 4,6 11,4 3,7 -29,3 -12,9 -14,8 8,5 -10,2 30.0 -2.3 11.5 6.6 14,2 19,1 5,7 ,4 7,2 5,8 16.1 -3.7 11.9 10.5 -2.6 7,9 1,3 -8,2 2,6 12,0 30,6 7,3 ,3 12,6 10,4 17.2 5.0 .3 8.9 2.9 32 33 34 35 36 37 21.7 7.7 .3 5.1 4.4 4.2 4?.7 16.0 6.7 7.6 8.7 3.7 7.0 -7.6 1.4 10.4 -1.2 4.1 4.2 -13,1 5.7 8,6 -2.1 5,0 -2,1 -22,2 2.7 14,1 -.3 3,7 -37,1 -51,0 5,6 10,6 -6,3 3,9 10,4 1,6 5,1 10,1 -9,3 3,1 29,0 -2,0 8,4 10,1 5,1 7,4 13.3 -1.2 3.8 3.4 2.2 5.0 -6,1 -20,8 5,0 4,4 -.1 5,3 31,1 12,5 7,5 3,8 3.1 4,2 22.4 9.9 8.2 1.4 -2.9 5.7 38 39 48.6 34.0 5.3 -2.2 63.9 56.2 95.7 81,3 84.5 73,0 132.3 113,1 88.3 71.7 68.6 65.9 93.2 74,4 119.1 94,2 90,6 86.6 108,3 91.0 40 41 42 14.6 12.2 2.4 7.6 4.7 2.8 7.7 4.2 3.5 14,4 11,0 3,4 10,7 7,2 3,5 19,2 14,0 5,2 16.5 12,8 3,8 2.7 .1 2,6 18,7 16,8 2,0 24.9 17.7 7,2 4,0 1.0 3,1 17,3 15.0 2.3 43 70.3 48,0 70.9 99,9 82,4 95,2 98,7 97,6 106,5 113,0 121,7 130.7 44 45 46 12.3 83.5 2.9 16.2 67.6 9.0 29.5 93.1 1.8 28,9 100,2 23,1 32,6 95,4 2,2 42,4 165,1 12,4 19,5 89,3 25,8 32,0 80,8 37,8 25,9 98,3 16,4 21,1 111,6 15,6 6,9 83,8 3,9 6.3 95.7 14.4 NOT INCLUDED DOMESTIC FINANCIAL 19 20 21 22 23 EQUITIES AND FUNDS 2 3 4 5 6 7 8 9 10 11 ADVANCED 12 13 14 15 16 17 18 I N T E R M E D I A T I O N ---- FUNDS A DVANCED BY PRIVATE FINANCIAL INSTITUTIONS COMMERCIAL BANKING SAVINGS INSTITUTIONS INSURANCE ♦ PENSION FUNOS OTHER FINANCE SOURCES OF FUNOS DOMESTIC DEPOSITS CREDIT MARKET BORROWING OTHER SOURCES FOREIGN FUNOS TREASURY BALANCES INS U R A N C E + P E N S I O N RES. OTHERt NET DOMESTIC 1 FOREIGN TOTAL NET A D VANCES U.S.GOVT. SECURITIES MUNICIPAL SECURITIES CORPORATE*FGN. BONDS RESIDENTIAL MORTGAGES OTHER MORTGAGES ♦ LOANS LESS— FHLB ADVANCES PRIVATE CORPORATE AGENCIES TOTAL NET A D V ANCES U.S.GOVT. SECURITIES RESIDENTIAL MORTGAGES F H L B A D V A N C E S TO S * L » S OTHER LOANS ♦ SECURITIES RY AGENCY — U.S. GOVT. SPONSORED CREDIT AGENCIES FEDERAL RESERVE FOREIGN AGEN C Y B O R R O W I N G NOT IN L I N E I CREDIT MARKET 125.2 139.1 52.2 65.2 48.8 50.5 15.9 14.1 8.3 9.3 PRIVATE PATES A D V A N C E D IN C R E D I T M A R K E T S TO N O N F I N A N C I A L S E C T O R S PRIVATE 12 13 14 15 16 17 18 OF FU N O S III TOTAL FUNDS 150.9 151,8 136.2 SUPPLY 3 ADJUSTED 197? II I MA RK E T MARKFTS NONFINANCIAL 19 20 21 22 23 24 25 26 27 28 29 30 31 INVESTORS— D I R E C T L E N D I N G IN CR. M K T S . U.S.GOVT. SECURITIES MUNICIPAL SECURITIES CORPORATE♦ FGN. BONOS COMMERCIAL PAPER OTHER 32 33 34 35 36 37 DEPOSITS ♦ CURRENCY TIME ♦ SAVINGS ACCOUNTS 38 39 MONEY DEMAND DEPOSITS CURRENCY TOTAL OF INSTR.. 40 41 42 CREDIT MARKET DEPOSITS* ♦ CURRENCY P U B L I C S U P P O R T R A T E (ft) P V T . F I N . I N T E R M E D I A T I O N (ft) TOTAL FOREIGN FUNDS 43 44 45 46 ABOVF 1 2 3 4.0 4.7 -.7 10.3 5.5 4.7 9.5 2.6 6.9 14.8 1.3 13.5 10.6 .7 9.9 7.2 -2.0 9,2 18,9 2,7 16,2 18.9 2.0 16.9 14.0 2.5 11.5 7.9 -2.7 10,5 17,9 2,0 15,9 12,0 TOTAL NET ISSUES ,5 MUTUAL FUNO SHARES 11.5 o t h e r EQUITIES 1 2 3 4 5 9.5 -5,5 12.8 -2.5 11 .4 -1.9 19.1 -4.4 14.4 -3.8 21,8 -14,7 19,6 -.7 18.0 1.0 17,1 -3.1 13,9 -6,0 16,5 1,5 17.4 -5.5 4 5 I I 1/72 IS B A S E D ON PRELIMINARY AND INCOMPLETE ACO. BY F I N A N C I A L INST. OTHER NET PURCHASES INFORMATION. Line 1. Total funds raised, page 2, excluding corporate equities. 2. S u m of lines 3-6 or 7-10. 6. Includes farm and commercial mortgages. 11. Excludes net investment of these reserves in corporate 31. Ma i n l y retained earnings and net miscellaneous liabilities. 32. Line 12 less line 19 plus line 26. 33-37. Lines 13-17 less amounts required by private finance. equities. Credit market funds raised b y Federally sponsored credit agencies. 30. Included b e l o w in lines 13 and 33. Includes all GNMA-guaranteed security issues backed by mortgage pools. 12. Line 1 less line 2 plus line 11. 26 plus line 32. Als o line 19 less line Also su m of lines 27 through 41 excluding subtotals. 37 includes mortgages. 39+41. See line 25. 42. Mainly an offset to line 9. 43. Lines 32 + 38 or line 12 less line 27 less line 42. 44. Line 2/line 1. Includes farm and commercial mortgages. 45. Line 19/line 12. 25. Lines 3 9 + 4 1 . 46. Lines 10 plus 28. 26. Foreign deposits at conmercial banks, ban k borrowings from 17. foreign b r a n c h y , and liabilities of foreign banking agencies to foreign a f f i l i a t e s . http://fraser.stlouisfed.org/ 29. Demand deposits at commercial banks. Federal Reserve Bank of St. Louis Corporate equities Line 1 and 3 Includes issues by financial institutions. Line 7 NOVEMBER HOUSEHOLDS 1972 HOUSEHOLDS SECTOR SEASONALLY ADJUSTED ANNUAL 1969 YEAR 1969 TOTALS lw (0 ----------- ........... .......... — S T A T E M E N T S OF S A V I N G AN O ( B I L L I O N S OF D O L L A R S ) PA ITS 1^71 :4 INVESTMENT SEASONALLY 1 1 1970 IV HOUSEHOLDS* 1 1 19 7 1 I PERSONAL II TRUSTS. ANO III NONPROFIT IV 1 1 I ADJUSTED 1972 II ANNUAL RATES II I ORGANIZATIONS - - - - - - 1 2 688,9 97.9 750.9 116.5 HO*.3 116.7 H h 1 .4 117.0 819.8 115.8 838.0 112.3 85H.1 115.2 867.9 117.5 3 4 5 6 7 8 591.0 551.2 39.8 6.0 2.5 16.7 634.4 596.2 38.2 6.b 2.5 16.2 6H9.5 634.7 54.8 9.2 .9 9.9 74 ^ . 4 683.4 6«).9 9.8 .H 16.2 704.0 644.8 59.2 8.8 -.4 4.4 725.7 666.4 59.3 10.3 .1 15.0 742.9 678.8 64.1 10.8 1.2 15.5 9 10 11 64.9 77.2 142.0 63.6 84. 8 148.* 74 . 9 91.1 166.2 8 7.6 98.5 186.1 72.0 94.0 166.0 84.7 95.9 180.6 12 13 14 15 16 143.5 109.7 21.1 84.0 4.5 144.6 117.8 22.0 90.8 5.1 1 74.3 115.3 19.6 90.5 5.3 181 .6 1 14.9 25.8 10 3 . 5 5.6 174.3 113.5 20.7 87.5 5.2 17 18 33.6 68.6 26.7 57.7 59.0 80.4 46.6 91.4 19 20 55.8 12.6 42.9 3.5 61.1 6.1 21 22 23 30.4 17.4 13.0 6.1 -1.9 8.0 24 25 26 27 28 29 12.9 4.5 -.2 2.0 4.8 1.8 30 31 881.5 123.0 907,0 136,4 922.1 139.4 939.5 140.8 PERSONAL INCOME LESS: PERSONAL TAXES*NONTAXES 750.4 689.4 61.0 8.5 1.2 18.0 758.5 699.2 59.3 9.5 .6 16.2 770.6 714.9 55.7 4.5 1.0 19.3 782.7 732.5 50.2 15.6 1.4 20.4 798.7 747.4 51.3 10.4 1.2 23.1 * DISPOSABLE PERS. INCOME LESSl P E R S O N A L OUTL A Y S * PERSONAL SAVING* NIA BASIS ♦ C R E D I T S F R O M GOVT. INSUR. ♦ CAPITAL GAINS DIVIDENDS ♦ N E T D U R A B L E S IN C O N S U M P T I O N 91.6 97.5 189.1 88.7 99.4 188.0 85.6 101.3 186.9 80.5 103.2 183.7 87.6 106.4 194.0 86,0 107,0 193,0 » NET SAVING ♦ CAPITAL CONSUMPTION * GROSS SAVING 183.5 127.3 22.3 99.8 5.3 182.8 132.8 25.3 101.9 5.7 176.4 138.4 26.7 106.1 5.7 183.5 141.1 29.2 106.1 5.8 185.0 146.7 29.6 111.0 6.0 203.3 152.3 32.4 113.9 6.0 201,1 157.9 33.4 118.4 6.2 GROSS INVESTMENT C A P I T A L E X P E N D . (NET OF S A L E S RESIDENTIAL CONSTRUCTION CONSUMER DURABLE GOODS NONPROFIT PLANT ♦ EQUIP. 60.8 81.7 56.2 82.4 50.0 93.6 37.9 86.4 4 2 *4 101.5 38.4 98.3 50.9 119.8 43.2 119.7 NET FINAN. NET ACQ. 70.5 8.5 63.4 5.2 69.8 15.0 68.6 8.5 63.7 -1.5 78.2 11.0 88.4 12.3 88.3 -2.2 98.2 7.7 DEPOSITS DEMAND 44.5 27. 6 17.0 73.5 32.7 40.8 60.2 34.8 25.4 100.9 49.5 51.4 65.1 23.1 42.0 57.3 21.9 35.4 70,6 36.3 34,3 92.1 35,3 56.9 73.1 31.5 41.6 83.8 38.6 45.2 SAVINGS ACCOUNTS AT C O M M E R C I A L B A N K S AT S A V I N G S I N S T I T U T I O N S 33.3 12.1 7.6 5.9 5.7 2.0 10.4 -4.4 2.0 -1.8 12.4 2.2 - 1 1 .6 -22.6 4.9 -3.9 7.6 2.4 -2.0 -22.5 1.6 1.6 15.5 1.7 -46.1 -57.1 5.0 -7.7 11.2 2.4 -5.0 -13.1 4.5 -4.1 7.0 .5 7.9 -13.1 7.2 .2 9.0 4.6 -3.3 -7.6 3.0 -4.0 3.1 2.2 -16.0 -22.7 4.2 -3.8 4.1 2.3 17.4 5.4 7.0 .3 2.9 1.8 6.7 -1.0 7.4 -1.9 • CREDIT MKT. INSTRUMENTS U.S. GOVT. SECURITIES STATE AND LOCAL OBLIG. COMMERCIAL PAPER CO R P O R A T E AND FGN. BONO MORTGAGES 4.7 -12.3 5.5 -9.6 2.6 -5.2 1.3 -6.5 .7 -6.4 -2.0 -12.9 2.7 -3.4 2.0 -2.0 2.5 -7.8 -2.7 -6.1 2.0 -1.2 .5 -7.8 I N V E S T M E N T CO. SH A R E S OTHER CORP. SHARES 32 33 4.5 15.4 4.9 15. 8 5.2 19.5 6.6 20.2 5.6 20.8 6.1 21.7 6.6 21.5 6.9 16.8 6.9 21.0 7.2 11.0 7.3 26.3 7.6 19.1 LIFE INSURANCE RESERVES PENSION FUND RESERVES 34 35 36 -2.0 .7 1.8 -3.2 -.8 2.1 -4.9 -.5 2.6 -3.2 # 2.4 -4.9 • 2.6 -4.3 1.6 2.5 -3.6 -1.2 2.4 -2.2 -1.2 2.4 -2.4 .6 2.5 -3.2 1.2 2.4 •4.1 -1.2 2.5 -3.1 2.9 2.4 N E T INV. IN N O N C O R P . SECURITY CREDIT MISCELLANEOUS 37 38 39 40 41 42 43 44 34,8 31.9 14.9 1. 1 9.0 2.1 3.1 1.7 31.0 32.6 16.2 1.3 8.3 1.0 2.6 3.0 21.4 2?.3 12.5 1.4 3.0 1.3 1.5 2.6 44.7 41.6 24.5 1.4 8.4 2.1 3.9 1.3 20.9 18.6 12.9 1.4 -1.5 1.8 2.2 1.7 26.2 23.4 13.9 1.4 2.7 1.3 2.3 1.7 43.6 39.6 23.4 1.4 6.7 2.3 4.6 1.2 48.4 46.8 29.1 1.5 10.3 2.2 2.5 1.2 59,1 55,1 31,7 1,5 12.4 2.2 6.2 1.3 59,9 50,7 27,5 1,5 11.9 2,1 6,3 1,4 68.9 60.9 37.0 1.5 15.5 2.1 3.3 1.5 76.5 69.1 41,8 1.5 15.6 3.0 6.0 1.3 45 46 47 2.1 .5 .4 -2.5 .5 .4 -1 .9 .6 .4 2.1 .6 .5 1.3 .6 .4 1.8 .6 .4 3.0 .6 .4 .6 .6 .5 3.0 .6 ,5 8,2 ,6 ,5 6.9 .6 .5 6.3 .6 .5 48 -1.4 3.9 -8.1 4.6 -8.4 -3.0 6.3 11.6 3,4 -1.4 -9.2 -8.2 2.1 INVESTMENT OF FINAN. ASSETS ♦ C R . M K T . I N S T R . (1) DEPOSITS ♦ CURRENC BUS. N E T I N C R E A S E IN L I A B I L I T I E S CREDIT MKT. INSTRUMENTS HOME MORTGA6ES OTHER MORTGAGES I N S T A L L M E N T CONS. CR. OTHER CONSUMER CREDIT BANK LOANS N.E.C. OTHER LOANS SECURITY CREDIT TRADE DEBT MISCELLANEOUS DISCREPANCY (1)E X C L U D E S CORPORATE EQUITIES MEMORANDA I NET PHYSICAL INVESTMENT* (A) R E S I D E N T I A L C O N S T R U C T I O N 49 50 51 52 21.1 8.3 14.9 -2.1 22.0 8.7 16.2 -2.9 19.6 9.0 12.5 -1.9 25.8 ->.4 24.5 -8.1 20.7 9.1 12.9 -1.3 22.3 9.3 13.9 -1.0 25.3 9.3 23.4 -7.4 26.7 9.4 29.1 -11.8 29.2 9.5 31.7 -12,0 29.6 9.6 27.5 -7.4 32.4 11.0 37.0 -15.6 33,4 9,8 41,8 -18,2 53 54 55 84.0 67.4 16.7 90. 8 74.6 16.2 90.5 «0.6 9.9 103.5 87.3 16.2 87.5 83.1 4,4 99.8 84.8 15.0 101,9 86,4 15,5 106.1 88.1 18,0 106.1 90.0 16,2 111,0 91,7 19,3 113,9 93,5 20.4 118,4 95,3 23.1 56 57 11.1 5.6 9.3 7.0 4.3 5.5 11).4 =>.7 .4 4.0 4.0 11.0 9,0 6,4 12,6 5,4 14.5 1,6 13,9 5,4 17.5 2.8 18,6 4,5 58 59 60 61 4.5 1.5 1.1 1.9 5.1 1.6 1.3 2.2 5.3 1.7 1 .4 2.2 5.6 1.8 1 .4 2.3 5.2 1.7 1.4 2.1 5.3 1.8 1.4 2.1 5,7 1,8 1,4 2,4 5,7 1,8 1,5 2,4 5,8 1,8 1,5 2,5 6,0 1,9 1.5 2.6 6.0 1.9 1.5 2.6 62 63 14.2 6.7 15.5 6.0 14.5 *.0 1 J.6 H.2 14.1 8.4 13.4 8.2 13,4 8,6 13.5 8.1 14.0 7.8 15.0 7.2 15.1 6.4 64 23.7 23.1 2 24.7 23.3 24.5 25,0 24.7 24.3 23,7 PER 24.3 17.6 12.4 5.8 5.2 18.2 11.4 6.4 6.2 18.4 13.2 7.7 7.2 18,9 12.7 7.7 6.5 19,1 15,0 8,6 7,6 e x p e n d i t u r e s LESSl CAPITAL CONSUMPTION HOME MORTGAGES * EXCESS NET INVESTMENT (B) 65 66 67 68 18.3 1 1 .4 5.H 5.3 18.3 9.0 4.e 5.1 16.5 1 1 .5 3. 1 3. 2 17.9 1^.1 5 .9 s.b 15.9 1 1.5 2.9 2.6 17.3 11.2 3.6 3.2 69 599.5 6*3.5 69^.7 754.9 712.4 736.1 1 11 /7 2 IS R A S E D D im P h FL />NU I N C O M P L E T E (C) 6,2 1.9 1.5 2*7 15.0 6.4 C E N T OF 23.8 19.5 14.8 9.4 8.5 CONSUMER DURABLES expe n d i t u r e s LESS: i NET CAPITAL CONSUMPTION INVESTMENT LESSl CONSUMER CREDIT a EXCESS NET INVESTMENT NONPROFIT PLANT ♦ EQUIPMENT EXPENDITURES LESS: CAPITAL CONSUMPTION NONPROFIT MORTGAGES « EXCESS NET INVESTMENT PERCENT RATIOS! EFFECTIVE TAX RATE SAVING RATE* NIA BASIS DISPOSABLE INCOME GROSS SAVING 53 54 55 56 57 58 59 60 61 62 63 A D J . (2)1 CAPITAL EXPENDITURES ACQ. OF F I N A N C I A L A S S E T S N E T I NCR. IN L I A B I L I T I E S CREDIT MKT. BORROWING 799,7 8 1 0 . 3 (2)D I S P O S A B L E I N COME ADJ. 768.6 776.1 754.9 760.1 (NIA D I S P O S A B L E I N C O M E ♦ G O V T . I N S U R A N C E C R E D I T S ♦ C A P I T A L G A I N S D I V I O . ) INFORMATION. 49 50 51 52 64 65 66 67 68 69 7 NOVFMeFw H 7 2 TO T ^ L ♦ N O N C O W P BUSIES*; TOTAL ♦ N O NCORP BUSINESS SECTOR SEASONALLY A P JUSTE.0 ANNUAL 1968 YEAR 19b* T 0 1 flL S 1^70 S T A T F M E N T S OF S A V I N G ANO ( P I L L I O N S OF D O LL A R S ) A 1 f- s SEA S O N A L L Y ADJUSTED ANNUAL RATES 1^71 1970 IV 1971 I II NONFINANCIAL 1 2 142.4 79.9 3 4 5 6 7 fl 9 INVESTMENT IV III BUSINESS - 1 1 I 1972 II III TOTAL 139.5 *0.3 12 7 . 5 7u.q 1 3*. 7 8s>. 9 122.2 78.3 133.6 84.8 137.3 Hfl.8 137.8 89.6 138.2 95.5 144. 1 96.5 145.7 102.7 155.9 105.7 INCOME BEFORE GROSS SAVING 69.b 99.0 92. 0 8 3.0 .9 8. 1 7.1 b7.* 109.3 101.4 90 . t) .1 10. 7.8 7?.9 110.1 10S.2 9 *.6 .M 1 0 .H 4.9 70.1 11^.0 114.3 9 7 .b 2 .4 14.3 3.6 *8.3 109.5 10 3 . 8 91.0 2.2 10.7 5.7 72.6 114.1 109.2 94.4 3.5 11.3 4.9 77.3 119.8 113.2 97.0 2.1 14.0 6.6 63.0 117.2 115.9 98. 1 2.9 15.0 1.3 66.9 120.8 119.1 100.9 1.2 17.0 1.7 87,4 130.7 130.3 108.4 3.7 18.3 .4 88.8 136.1 131.2 110.8 1.6 18.8 5.0 91.3 139.0 133.3 112.5 2.6 18.3 5.7 GROSS INVESTMENT CAPITAL EXPENDITURES FIXED INVESTMENT BUSINESS PLANT ♦ EQUIPMENT 1-4 F A M I L Y R E S I D E N T . C ONST OTHER RESIDENTIAL C H A N G E IN I N V E N T O R I E S 10 11 12 13 14 15 16 17 18 19 -29.4 25. 1 54.b -.fl 40.0 12.9 .3 11.0 11.0 4.8 -<* 1 . *12.9 64.3 4 .J 4fc.5 12.1 -.6 11.0 14 .6 9.3 -37.2 12. b 4 ^ . fl b.a 4?.7 20.3 .3 1 1.7 3.5 7.0 -<♦7. 8 23.4 71.3 13.4 49.b 14 .4 1.5 19.4 6 .<♦ 2.7 -41.2 5.9 47.1 9.6 45.3 23.8 1.2 14.2 -1.7 7.7 -41.5 24.8 66.3 9.0 50.5 .24.1 1.5 16.0 .5 8.5 -42.5 24.9 67.4 15.7 47.9 20.1 1.9 19.0 6.1 .8 -54.3 27.3 81.5 17.0 55.9 14.9 3.0 21.1 15.2 1.7 -53.9 16.3 70. 1 12.1 43.8 18.5 -.3 21.7 4.0 -.1 -43.3 34.8 78.2 10.5 56.7 11.2 2.7 22.7 13.2 7.0 -47.4 27.8 75.1 16.2 57.1 13.0 1.0 26.2 11.7 5.2 -47.7 29.0 76.7 11 .6 52.8 13.5 .4 27.2 13.9 -2.3 NET FINANCIAL INVESTMENT F I N A N C I A L USES OF FUNDS. NET F I N A N . S O U R C E S OF FUNDS. NET CORPORATE SHARE ISSUES C R E D I T MKT. I N S T R U M E N T S CORPORATE BONDS HOME MORTGAGES OTHER MORTGAGES BANK LOANS N.E.C. OTHER LOANS 20 21 10 . 5 4.9 15.2 -1.7 4.6 -4.2 3.9 4.4 -.9 -6.9 7.2 -.5 -1.2 5.0 3.2 5.5 6.3 7.9 14.2 -3.3 11.2 -9.4 10.8 1.6 22 10.3 12.5 6.9 19.8 10.0 12.3 11.4 26.7 28.6 9.1 13.9 14.4 FARM DEBT LIABILITIES DISCREPANCY BUSINESS 1 2 3 4 5 6 14.7 • 6.2 6.0 .3 6.2 16.7 * 6.6 6.2 .3 6.5 lb.9 -.1 6.7 6.4 .4 6.6 17.3 » 7.2 b.d .4 7.2 15.9 -.5 6.8 6.4 .4 6.3 16.8 « 6.9 6.6 .4 7.0 16.9 .1 7.1 6.7 .4 7.2 17.6 -.1 7.3 6.9 .4 7.2 18.1 -.2 7.5 7.0 .4 7.2 19.1 » 7.5 7.0 .5 7.6 18.7 • 7.5 7.1 .5 7.6 19.1 .1 7.6 7.0 .5 7.6 7 8 9 10 11 6.2 6.3 5.7 .5 .1 6.5 6.6 5.9 .6 b.b 7. 1 6.5 .5 .1 7.2 9.1 7.3 .6 1 .2 6.3 7.1 6.4 .6 .1 7.0 8.2 6.9 .5 .9 7.2 9.1 7. 1 .5 1.5 7.2 9.9 7.7 .7 1.6 7.2 9.1 7.6 .6 .9 7.6 8.9 7.9 .6 .3 7.6 9.8 8.4 .6 .7 7.6 9.7 8.5 .8 .4 12 13 14 15 16 17 -.1 .6 .2 .4 .3 .1 -.1 •5 -.5 .6 .1 .5 .4 .1 -1.9 .5 .1 .4 .3 .1 -.8 .6 .1 .5 .4 .1 -1.3 .5 .1 .4 .3 .1 -1.9 .5 .1 .4 .3 .1 -2.6 .4 .1 .3 .3 * -1.9 .6 .1 .5 .3 .1 -1.3 .5 .1 .3 .3 « -2.2 .6 .1 .4 .3 .1 -2.0 .5 .1 .3 .3 • 18 19 20 21 22 23 24 .7 2.7 2.1 .4 .2 -.1 .2 .7 3.2 1.9 .6 .6 • .6 1.1 3.2 1.8 .8 .6 -.1 .7 2.4 4.1 2.0 1.3 .7 1.8 3.6 2.2 .4 .9 -.1 1.0 2.3 3.6 1.3 1.4 .9 3.1 4.9 2.2 2.1 .5 .9 .5 2.5 4.3 2.3 1.4 .6 .3 .4 1.7 3.9 2.6 1.1 .3 -.2 .5 2.7 4.9 2.9 1.6 .4 • .5 2.5 4.1 2.8 1. 1 .1 .1 .7 1.4 3.2 2.1 .3 .9 -. 1 1.0 25 26 .4 -2.4 .7 -3.2 1.1 -3.2 1.4 -3.1 1.4 -3.2 1.8 -3.6 1.8 -3.0 .6 -2.4 1.5 -3.4 .4 -2.6 (2) S H A R E S * TRADE OTHER TAXES NONFARM « NONCORPORATE - NET INCOME NET SAVING CAPITAL CONSUMPTION NONCORPORATE CORPORATE CU R R E N T SURP. * GROSS SAVING GROSS INVESTMENT CAPITAL EXPENDITURES PLANT AND EQUIPMENT RESIDENTIAL CONSTRUCTION C H A N G E IN I N V E N T O R I E S NET FINAN. INVESTMENT NET.INCR.IN FINAN. ASSETS DE M A N D DEP. AND CURRENCY MISCELLANEOUS ASSETS INSURANCE RECEIVABLES E Q U I T Y IN S P 0 N . A G S . ( 2 ) N E T I N C R E A S E IN L I A B I L I T I E S CREOIT MARKET INSTRUMENTS MORTGAGES BANK LOANS N.E.C. OTHER LOANS U.S.GOVT. FICB*BKS FOR COOPS • 1.0 ,9 -3.2 -2.5 IN F I C B » S . B A N K S TRADE 0E8T PROPRIETOR NET INVESTMENT FOR COOPS* AND LAND BANKS. BUSINESS 1 58.9 60.0 59.9 63.4 60.2 61.6 63.1 64.1 64.7 65.3 64.3 67.9 NET 2 3 11 .9 11.9 13.1 13.0 14.2 14.2 15.5 15.6 14.5 13.8 15.0 15.8 15.3 14.9 15.7 15.2 16.1 15.9 16.4 16.4 17.4 17.4 17.0 17.0 CAPITAL CURRENT 4 5 6 7 8 9 10 11.9 16.5 16.0 9.8 5.9 .2 .5 13.0 lfl.6 1 7. 6 10 . b 7.3 -.3 1. 0 14.? 18.5 lfl.4 10.b 7 .b .2 .1 15.6 23.7 22.4 11.5 10.0 .9 1.3 13.8 18.2 18.8 10.h 7.5 .8 -.7 15.8 23.5 20.5 11.1 7.9 1.5 2.9 14.9 23.0 21 .9 11.3 9.7 .8 1.1 15.2 24.1 23.2 11.6 10.4 1.1 1.0 15.9 24.0 23.9 11.8 11.8 .3 .1 16.4 27.1 26.3 12.0 12.7 1.5 .7 17.4 26.2 25.5 12.2 12.9 .5 .7 17.0 26.5 26.0 12.2 12.9 .9 .5 GROSS INVESTMENT CAPITAL EXPENDITURES FIXED CAPITAL PLANT ♦ EQUIPMENT MULTI-FAMILY RESID. HOME CONSTRUCTION C H A N G E IN I N V E N T O R I E S 11 12 13 14 15 16 17 -4.6 1.2 .7 .5 .5 -5.5 1.2 aO ./ .7 -4.4 1.3 .6 .7 .7 -7.7 .7 » .7 .7 -8.1 1.3 .6 .7 .7 -8.9 1 .6 .9 .7 .7 -8.1 1.6 .9 .7 .7 -10.6 1.1 .4 .7 .7 -8.8 1.5 .8 .7 .7 -9.5 1.5 .8 .7 .7 NET F I N A N C I A L INVEST. NET ACQUIS. OF FINAN. ASSET D E M A N D DEP. ♦ CURRENCY CONSUMER CREDIT • —8 . 0 1.3 .6 .7 .7 • -4.2 1.1 .5 .7 .7 18 19 20 21 22 23 5.8 5.7 3.4 .1 2.7 .5 6.7 7.4 3.7 -.3 3 .b .4 5.4 *.4 4.9 .2 4.3 ,4 b .2 .9 5.7 7.5 6.2 .6 5.0 .5 8.4 10.4 6.5 .7 5.2 .6 9.4 11.5 8.6 1.0 6.8 .8 10.5 10.6 8.5 1.5 6.0 1.0 9.7 8.8 7.6 -. 1 6.7 1.0 11.7 11.8 8.6 1.4 6.0 1.1 10.4 10.9 8.7 .5 6.8 1.3 10.9 10.2 9.1 .2 7.5 1.4 24 25 1.3 1.1 2.0 1.8 . <♦ 1.2 1 .8 .H .5 .8 1.4 2.5 1.9 1.1 1.6 .4 2.2 -.9 2.7 .6 2.1 .1 .4 .8 26 27 -.3 .3 -. 7 * * -1 .0 -.1 -.2 -1.7 -1.3 -.8 -1.5 -.6 -.2 .1 -.1 l.o .5 -.6 .5 -1.0 1.4 -.7 1 1 1/ 72 IS R A S E D ON » .b -1.7 * 4.3 10.3 7.8 .« PRFLIM I N A ^ Y AND » INCOMPLETE » « INFORMATION. » 4* - « » INCOME CONSUMPTION SURP. * GROSS SAVING MISCE L L A N E O U S ASSETS INSURANCE RECEIVABLES E Q U I T Y IN S P O N . AGS, • NET INCREASE IN L I A B I L I T I E S CREDIT MARKET INSTRUMENTS MORTGAGES HOME M ORTGAGES MULTI-FAMILY COMMERCIAL BANK L OANS N.E.C. OTHER TRADE LOANS DEBT. NET P R O P R I E T O R NET INVESTMENT 7 N O V E M B E R 1972 CORPORATE BUSINESS CORPORATE SECTOR SEASONALLY ADJUSTED ANNUAL 1968 YEAR 1969 TOTALS 1970 S T A T b M E N T S OF S A V T Nfi AND ( M I L L I O N S OF DO L L A RS ) OATES 1971 SEASONALLY I | 1970 IV | | 1971 II NONFINANCIAL ADJUSTED ANNUAL RATES P R O F I T S BEFO R E TAX - P R O F I T S TAX A C C R U A L S - NET D I V I DENDS PAID ♦ UNDISTRIBUTED PROFITS ♦ FGN. BRAN C H PROF I T S ♦ INV. V A L U A T I O N ADJ. ♦ C A P I T A L C O N S U M P T I O N ALL. = GROSS INTERNAL FUNDS 1 ? 3 4 5 6 7 6 197? II III CORPORATE ROSINESS INVESTMENT BUSINFSS 1 2 3 4 5 6 7 8 72.2 34.0 20.8 17.5 2.5 -3.3 45.1 61.7 67.9 33.6 20.7 13.6 2 .b -5.1 49.9 61). 8 55.1 26.8 19.9 8.4 2.3 -4.4 5?. 7 59.1 60. 1 29.4 19.5 11 .9 2.6 -4.7 57.3 67.1 48.9 24.3 19.5 5.1 2.2 -2.8 53.5 58.2 59.9 29.9 20.1 9.8 2.2 -4.7 54.8 62.1 61.7 30.8 19.2 11.8 2.8 -4.4 56.5 66.6 62.0 29.4 20.0 12.6 2.2 -5.8 58.2 67.2 59.3 27.3 1 8. b 13.4 3.0 -3.9 59.9 72.4 66.3 31.0 20.2 15.0 2.3 -6.5 61.7 72.5 68.2 32.0 20.2 16.0 2.5 -5.5 64.8 77.7 75.0 35.2 20.3 19.5 2.7 -6.1 64.9 81.0 9 10 11 12 13 14 51.4 76.2 69.8 67.4 2.3 6.4 4H.3 d4 .0 77.3 74.3 3.0 6. r 52.1 84.6 T9 . 8 76.5 3.4 4.8 47.3 8b.2 84. 1 78.8 b. 3 J .1 48.2 84.3 78.0 74.0 4.0 6.3 49.8 82.4 81.4 76.4 4.9 1.0 55.2 87.6 83.7 18 . 6 5.1 4.0 40.6 83.2 84.4 78.8 5.7 -1.2 43.8 87.7 87.0 81 .5 5.4 .7 63.4 94.8 95.5 88.4 7.1 -.7 63.8 100.1 96.5 90.2 6.4 3.6 66.6 102.8 98.0 91.8 6.3 4.8 G R O S S I N V E S T M E N T (10 ♦ 15) CAPITAL EXPENDITURES FIXED INVESTMENT PLANT AND EQUIPMENT RESIDENTIAL CONSTRUCTION C H A N G E IN I N V E N T O R I E S 9 10 11 12 13 14 15 16 -24.8 23.3 -3b. 8 21.1 -32.5 10.9 - 3 f .9 21.7 -36.1 4.0 -32.5 23.6 -32.5 23.2 -42.7 25.3 -43.9 14.0 -31.4 33.3 -36.4 25.6 -36.2 27.1 NET F I N ANCIAL INVESTMENT F I N A N C I A L U S E S OF F U N 0 S . N E T 15 16 17 18 19 20 21 22 5.3 1 .1 .4 .9 2.5 .5 -.b 1 .b -2.4 -1.3 2.7 -1.0 -1.0 .3 1.7 -2.9 .6 -.6 10.6 4.5 .6 2.7 1 .8 1.0 -.7 .8 3.2 -3.9 -1.9 1.0 7.9 4.1 2.2 -.8 1.4 1.0 13.7 8.3 4.8 4.9 -5.3 1.0 13.6 1.6 2.5 3.6 4.9 1.0 7.4 4.1 -6.9 3.1 6.2 1.0 b.l 1.8 -6.2 3.7 1.0 12.0 3.4 2.8 2.0 2.8 1.0 10.1 3.3 4.0 2.8 -1.0 1.0 LIQUID ASSETS D E M A N D OEP. ANO CURR. TIME DEPOSITS U.S. GOVT. SECURITIES OPEN-MKT. PAPER STATE AND LOCAL OBLIG. 17 18 19 20 21 22 23 24 25 26 27 28 29 1.7 13.9 2.4 1.1 .5 .8 • 1.3 17.3 3.0 2.2 2.0 1.1 .1 1. 4 6.2 4.3 3.6 -.4 .9 .1 .4 1.2 * 1.3 .3 3.1 3.3 -1.4 1.0 .2 1.5 7.9 6.4 4.1 1.1 1 .1 * 1.9 1.8 5.8 4.4 .1 1.3 « 1.9 3.6 6.2 4.3 .6 1 .3 * 1.9 2.8 2.0 .7 « 1.2 « 2.6 19.4 6.2 4.0 .8 1.3 • 1.5 13.2 -1.1 -2.7 .3 1.3 • 2.8 11.8 2.4 .5 .6 1.3 « CONSUMER CREOIT TRADE CREDIT MISCELLANEOUS ASSETS F G N O I R E C T I N V E S T M E N T (1 FGN. CURRE N C I E S INSURANCE RECEIVABLES EQ. IN F E D . S P O N . AG. 23 24 25 26 27 28 29 30 31 32 33 48.1 30.7 -.8 31.6 b6.9 *♦0.2 4.3 35.9 43.4 39.8 6.8 33.0 59.6 48.6 13.4 35.1 40.0 44. 1 9.6 34.6 56.1 45.5 9.0 36.5 55.6 48.5 15.7 32.8 68.0 57.5 17.0 40.5 57.9 42.8 12.1 30.7 64.7 51.5 10.5 41.0 62.0 57.5 16.2 41.3 63.3 50.0 11.6 38.4 FINAN. SOUR C E S OF FU N D S * N E T N E T F U N D S R A I S E D IN M K T S . N E T NErf S H A R E I S S U E S DEBT INSTRUMENTS 30 31 32 33 34 35 36 37 38 12.9 5.8 .1 .8 4.9 12.1 4.8 -.3 1.2 3.8 20.3 5.3 .2 1 .5 3.6 19.4 11.2 .8 2.6 7.8 23.8 7.2 .6 1.7 4.8 24.1 8.7 .7 2.3 5.6 20.1 11.1 1.0 3.0 7.2 14.9 13.3 1.5 2.8 9.0 ya.s 11.6 -.1 2.6 9.2 11.2 14.3 1.4 2.7 10.3 13.0 15.7 .5 3.1 12.0 13,5 15.7 .2 3.1 12.4 C O R P O R A T E B O N D S (1) MORTGAGES HOME MORTGAGES MULTI-FAMILY COMMERCIAL 34 35 36 37 38 39 40 41 42 9.3 1.6 1.8 .2 12.1 2.7 4.2 .1 2.3 2.6 2.3 .3 3.3 -1.0 2.0 .2 -2.5 3.9 1.8 .4 -1.3 1.0 3.8 .3 2.8 -3.3 1.8 .3 11.4 1.3 -.5 « .4 -2.9 2.8 .3 9.4 1.9 4.2 • 8.0 4.3 .3 .1 12.4 -3.2 -.1 .1 BANK LOANS N.E.C. OPEN-MKT PAPER F I N A N C E CO. LO A N S U.S.GOVT. LOANS 39 40 41 42 43 44 45 2.9 10.4 4.1 -3.3 15.2 4.8 -2.7 2.8 3.4 4.0 3.4 3.6 -1.1 -2.1 -1.0 3.0 6.8 .8 10.0 -1.5 -1.4 1.9 2.8 5.8 1.1 4.8 9.3 .5 13.2 -.6 -4.6 9.8 -.7 1.9 8.5 2.8 46 47 48 10.3 3.6 31.8 12.5 2.2 37.0 6.9 3.3 31.3 19.8 .6 27.7 10.0 2.4 29.0 12.3 1.1 29.2 11.4 3.3 24.2 26.7 .8 28.8 28.6 -2.0 28.8 9.1 6.1 31.1 13.9 3.5 36.8 14.4 3.2 34.7 49 50 51 47.0 123.5 41.4 49.3 48. J 14 3 . 2 39.0 48.4 13M. 3 42.7 127.0 41.2 49.7 144.9 41.0 50.0 132.6 44.3 49.9 131.5 37.4 47.4 123.8 48.6 46.1 121.0 35.0 46.8 130.7 43.2 46.9 128.9 41.2 47.0 126.9 37.4 -.4 . 4.0 b .1 (1) 11 1 / 7 2 IS B A S E D ON P R E L I M I N A R Y AN D INCOMPLETE INFORMATION. 4.9 PROFIT TAX L I A B ILITY TRADE OEBT MISCELLANEOUS LIABILITIES DISCREPANCY M EM O - NET TRADE CREDIT P R O F I T S TAX P A Y M E N T S PERCENT RATIOSI E F F E C T I V E TAX RATE CAP. O U TLAYS/INT. FUNDS CR.MKT, BORROHING/CAP.EXP. F O R E I G N I N V F S T M E N T E X C L U D E S A M O U N T S F I N A N C E D BY B O N O A N D B O N D I S S U E S O U T S I D E T H E U . S. A R E E X C L U D E D S OURCES OF ISSUES ABROAD# FROM FINANCIAL FUNOS ABOVE. 43 44 45 46 47 48 49 50 51 7 N O V E M B E R 197^ GOVERNMENT S GOVERNMENTS 7 SECTOR SEASONALLY A I)J U S T t o AM.giiAi. 19ft8 YFAH 196 9 TOTALS lv.70 r a U s e a s o n a l l y I I 1 9 71 1 2 3 4 5 6 7 82.0 2b.1 100. 8 6.7 -.3 4.7 -5.0 *2.1 2 7 . ft 111.*' 7.* .1 •3.0 -4 .0 102.? 32. H 12?.S ■ ). n 2. 3 ft . H ft . H - 1.4 -2.1 8 9 10 11 12 13 14 15 16 17 18 19 20 21 -4.0 7.0 3.8 .6 3.2 2.6 2.2 1.2 1 .0 —ft . 3 2.6 -3.8 2.1 -5.9 7.1 -7. -5.4 .3 .2 .1 .7 3.3 1. 7 .1 1 .M 1.8 * - .h 22 24 25 26 27 28 11.0 10.4 10.1 .1 9.9 .3 .6 29 -1.1 zi « 5.<r *->.9 - *I 10.1) -2.3 -. 2 111.1 3m ,7 I .U 12.0 *♦.8 Is.ft /.ft .5 7.2 7.7 ft . 9 ft.2 - .5 .8 -2.0 -.2 1.0 1 .0 .o o * -*Q .3 9.1 H. 7 7.9 2.6 5.4 .7 .o 10.4 1 3.9 21.0 2 0.6 13.8 20.2 1.8 4 .6 15.6 2.1 3. 10.0 .1 .4 ft 7 s 1970 IV STATF ft.8 S T A T E M E N T S OF S A V I N G AN O I N V E S T M E N T ( B I L L I O M S OF D O L L A R S ) I I AND 19/1 I II LDCAL III GOVERNMENTS - I I IV GENERAL 1972 II I 108.2 3ft. 0 130.8 11.5 2.0 7.6 -5.8 111.4 33.7 133.3 11.9 5.0 7.4 -2.0 114.6 39.3 135.7 12.0 6.2 6.0 .2 118.1 40.6 140.2 12.4 6.0 6.2 -.2 122.1 42. 7 143.7 14.0 7.1 3.1 4.0 126,2 48,6 146,0 14,0 14,8 11,2 3,6 -ft.9 15.2 13.3 2.9 10.4 2.8 4.2 2.7 1 .4 .1 -1.5 -1.5 * -.9 -10.1 15.2 9.1 -.9 10.0 ft . 0 7.0 7.0 -5.6 14.2 1.5 -.2 1.8 12.4 9.8 8.4 1.4 -.4 3.0 3.0 -4.7 15.9 6.9 .9 6.0 8.8 7.5 6.7 .8 .2 1.1 1.1 -1.* 17.1 13.0 2.2 10.8 3.6 3.4 2.6 .8 -.2 .4 .3 -3.3 15.0 6.1 5.8 .3 8.4 8.2 7.8 .3 -.1 .4 .3 2,1 17,2 11.1 .4 10.7 5.6 5.1 5.2 * -.5 .9 .9 « * * * * * .1 .3 .2 .6 .5 .5 22. 1 21.7 21.5 8.4 13 . 1 19. 19.3 19.6 4,2 15.4 -.3 .4 20.6 20.2 19.2 4.6 14.6 1.0 .4 18.5 18.0 17.7 1.9 15.8 .4 .5 18,3 17.8 16.7 4,0 12.7 1.1 ,5 3,2 4.8 1.1 « .4 .5 .2 .5 25.3 24.9 24.5 7.8 16.7 .4 .4 3.0 2.0 4.3 fa 7,3 EMPLOYEE U.S. annual rates III FUNDS 104.7 3<».4 127.6 10. ft .9 5.8 -4.9 -.4 -.6 -.6 adjusted 128,3 45,3 150.4 13.7 9,5 7,8 1,7 TAX R E C E I P T S S O C . I N S . ♦ GRANTS RECD. PURCH.OF GOODS ♦ SERVICES NET INTEREST ♦ TRANSFERS PAID NET S U R P L U S * NIA BASIS L E S S - R E T I R E M E N T CR. TO HH. FQUALS-GROSS SAVING 1 2 3 4 5 6 7 -2,3 NET FINANCIAL INVESTMENT 16,2 NET ACO.OF FINAN.ASSETS 6,4 TOTAL DEPOSITS ♦ CURRENCY 3,1 CURR. AND DEMA N D DEPOSIT 3.3 TIME DEPOSITS 9,3 C R E D I T MKT. I N S T R U M E N T S 8,1 U.S.GOVT.SECURITIES 7,4 DIRECT ,7 U.S.G. A G ENCY SEC. -.2 ST A T E ♦ LOC A L SEC. 1,4 OTHER CR.MKT.INSTRUMENTS 1.3 CORPORATE BONDS » HOME MORTGAGES ,5 TAX RECEIVABLES 8 9 10 11 12 13 14 15 16 17 18 19 20 21 15.1 14.7 14.3 -1.2 15.5 .4 .5 18,4 18,0 17,6 2,9 14,7 .4 ,5 22 23 24 25 26 27 28 1 .5 4,0 RETIREMENT N E T I N C R • IN L I A B I L I T I E S C R E D I T MKT. BO R R O W I N G STATE ♦ LOCAL OBLIG. SHORT-TERM OTHER U.S.GOVT. LOANS TRADE DEBT DISCREPANCY FUNDS ARE IN 29 INSURANCE SECTOR. GOVERNMENT 1 2 3 4 5 175.0 79.7 36. 7 18.0 40.7 197.3 94.8 36.6 19.0 46. 9 191 ,.ft 9 ? .4 3 0,.4 1 9,.3 <♦9 .5 19<J.l 89.6 33.1 20.5 55.9 189. 1 90.9 28.7 19.4 50.0 196.4 86.6 33,9 20,9 55.0 198,2 88, 1 34.4 20.2 55,6 199.1 89.8 33,2 20,0 56,1 202.8 93.8 31.1 20.8 57.0 221.4 105.8 34,0 19,9 61,7 224,7 107,3 35,0 19,7 62,6 230,8 108,9 38,1 20,1 63,7 TOTAL RECEIPTS. NIA BASIS PERSONAL TAXES CORP. P R OFITS TAX ACCRUALS INDIRECT TAXES INSURANCE RECEIPTS 6 7 8 9 10 11 12 13 181.5 98.8 34.1 11.7 36.9 -6.5 1.3 -7.8 189.2 y«.8 37.2 13.1 40.0 8.1 1.0 6.3 2 0 4 .5 9 6 .5 4 5 .3 14 .6 08 . 1 - 1 ? .9 ?..5 - 1 5 .4 220.8 9 7.8 47.0 13.6 6?.o - 2 1 ,7 2,9 -24,6 208.8 95.0 48.2 14.6 51.0 -19.7 3.0 -22.7 212.4 96.2 47,1 14,0 55,0 -16,0 2,5 -18,5 221,2 96,3 49,4 13,6 62,0 -23,0 3,4 -26,4 222,2 97,9 47,7 13.6 63,0 -23,1 2,5 -25,6 227.5 100.7 43.8 13.3 69.6 -24.7 3,3 -28.0 236,2 105,7 45,3 13,1 72,1 -14,8 1,4 -16,2 246,4 108.1 47.3 13,8 77,2 -21,7 4,4 -26,1 243,1 106,2 42,4 13,6 80,9 -12,3 ? .6 -14,9 TOTAL EXPENDITURES* NIA BASIS GOODS AND SERVICES GRANTS AND DONATIONS NET INTEREST INSURANCE BENEFITS NET SURPLUS. NIA BASIS L E S S - I N S U R A N C E C R E D I T S TO HH e q u a l s -g r o s s s a v i n g 6 7 8 9 10 U 12 13 14 15 16 17 18 19 20 -8.4 7.4 -1.7 4.9 .1 1.1 3.7 6.1 3.7 1.1 2.9 -1.3 .7 3.3 - 1 5 .8 « ? .5 .8 - .1 .3 2 .b -25,3 3,8 3,2 3.2 « * 3.2 -21.0 2.1 4.5 1.8 -.5 ,3 2,0 -20,2 -13,1 -14,4 4,9 • « 5,0 -29,3 15,5 11,8 3,9 « ,4 3,5 -26,4 1.6 3.2 2.1 - -17,5 -10,9 -11,8 3.2 ,4 2,8 -24,9 -3,6 - ,4 1.4 -.6 2.0 -14,2 -2,5 -5,6 3,3 ,8 2,5 NET ?.l -25.2 10.9 12.1 1.8 _ -.2 2.0 14 15 16 17 18 19 20 21 22 1.7 2.5 -2.6 2.2 - 3 .0 - 2 .3 1.1 -3.7 -2,9 -1.2 ,5 -4,1 5,4 -5.5 .6 -4.3 -2.0 -1.0 -1,7 - .6 -5.0 .4 23 24 25 26 27 28 29 15.9 13.4 .4 -2.3 -3.6 -.4 15 .9 1? .8 .3 12 .ft _ .1 2 .5 .6 29.1 25.5 2.4 23.6 -.5 2.9 .6 23.1 18.0 1.7 14.8 1.5 3.0 2.1 7,1 3,9 1 ,9 4,9 -2,9 2,5 ,7 44,8 40,6 2.7 38.2 -.2 3.4 .8 28.0 25.9 2.4 23.1 .3 2.5 -.3 36.1 31,4 2.6 28.0 .8 3.3 1.4 6,6 6,6 3.2 1.1 2,2 1,4 -1.4 30 31 .4 33 0 .7 32.0 -1.7 31.7 1.7 33.4 2.9 28.9 .8 32.6 -2.7 33.1 1,3 35.8 CREDIT AGENCIES 9.9 -.9 3.1 1.3 1.1 -2.0 1.6 -.0 .6 35.0 0 39.2 . . FEDERALLY SPONSORED « ,4 - *7 INVESTMENT , of f i n a n . asset DEPOSITS ♦ CURRENC CREDIT MARKET INSTRUMENTS AGENCY SECURITIES MORTGAGES OTHER l o a n s E X C E S S OF TAX A C C R U A L S OVER RECEIPTS OTHER FINANCIAL ASSETS 21 22 21.2 16.3 3.4 11,4 1.5 4.4 .5 11.8 10,6 3,1 4,6 3,0 2,6 -1.5 N E T I N C R E A S E IN L I A B I L I T I E S U.S. GOVT. SECURITIES SAVINGS BONDS D I R E C T EXC. SVGS. BDS. BUDG E T AGENCY SEC. LIFE*RETIREMENT RESERVES OTHER LIABILITIES 23 24 25 26 27 28 29 -1,2 40,0 -.7 37,6 1 .1 .1 .1 .1 .1 .1 .1 .1 .1 .1 ,1 2 3 4 5 6 7 8 9 10 3.2 3.2 -.1 1.6 .5 1. 2 .1 .2 .9 9.2 9.0 -.2 3.* .6 4 .6 .2 .6 0.0 l'J.M 10.2 8.0 2.9 3.9 .6 .5 .3 1. 0 -.7 2.0 .9 -.8 1.8 .5 -.6 .3 1.0 -1.8 -3.9 -4.6 -2.6 6.1 .7 - 8 .1 .1 .9 -9.8 9.3 7. 1 -2.1 7.7 .8 .8 -.6 .5 .9 6.2 7.8 -.4 6.8 .9 .5 .2 .4 1 .3 3.4 2.8 -} .5 5.6 .7 -2.0 « .7 -2.7 7.0 7,3 5,6 6,1 ,8 -5,2 ,3 ,5 -6,0 8,4 6,9 -1,8 6,3 ,9 1,3 ,2 ,5 ,6 11 12 13 14 15 16 3.2 3.5 3.2 .2 -.3 .1 9.1 8.*5 9. i -.3 0 .1 1 0.8 ft.7 H.7 3 .3 3.9 4.9 10.2 6.9 6.9 3.3 .1 7.9 7. 4 7.6 -.2 .6 -1.3 6.3 7.5 7.5 * -1.2 .2 8,2 8.8 8.8 -.5 « -4.3 1.3 1.3 -.1 -3.5 -.3 8,0 6,3 6,3 2. 1 3.2 -.7 -1.1 .3 4.0 1.3 1,8 1,1 -.6 -.1 . 9.4 1 .7 5.4 2. 3 _ .1 _ _ * - - .1 FINAN. 1 2 3 4 5 net a c q u i s demand DISCREPANCY MEMO- CORP. CURRENT (13-14) TAX RECEIPTS. NET SURPLUS 5,2 NET i n c r e a s e i n ASSETS 2.8 C R E D I T MKT, INTRUMENTS -5.3 U . S . G O V T . SEC. 4.5 RESIDENTIAL MORTGAGES FARM MORTGAGES 1.3 2,5 OTHER LOANS ,5 T O C O O P S (BC) » T O F A R M E R S (FICB) T O S ♦ L ' S (FHLB) I*9 30 31 1 (1) 4 , 1 N F T I N C R E A S E IN L I A B I L I T I E S CR E D I T MKT. INSTR. 3,2 AGENCY SECURITIES (1) 3,2 U.S.GOVT. LOANS ,9 MISCELLANEOUS LIABILITIES -1.0 DISCREPANCY 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 T m IS g r o u p C O N S I S T S O F F E D E R A L h o m e L O A N B A N K S * F E D E R A L N A T I O N A L M O R T G A G E ASSOCIATION* FEDERAL INTERMEDIATE CREDIT BANKS* BANKS FOR COOPERATIVES* AND FE DE RA L L A ND B A NK S, TH ES E A G E N C I E S ARF P R I V A T E L Y OW N E D AND ARE F X C L U D F O F R O M U. S . G O V E R N M E N T B U D G E T A C C O U N T S AS OF 1 9 6 9 A N D F R O M U . S . G O V E R N M E N T F I G U R E S IN T H E S E A C C O U N T S F O R A L L Y E A R S . (I) All GNMA-guaranteed securities backed by mortgage pools are included in agency securities (line 13). The mortgage pools are included in residential mortgages (line 5). 111/72 is based on preliminary and incomplete information. 7 NOVEMBER 1972 BANKING SYSTFM * RANKING SECTOR 8 8 SEASONALLY ADJUSTED ANNUAL PATES — — _____ - _________________________________________________________________________ _________________________________S E A S O N A L L Y YEAH ________1 TOTALS 11 | 1970 I Iv MONETARY * -.1 3 4 5 6 7 8 - K 2 .2 .9 * 3.7 3.8 10 11 3 Ife 1.3 12 13 14 15 -!l .1 * * - 1*4 7 rt !*« *b -1.0 .1 2.4 .2 2 * 4.2 4.2 «j!o S O ^*° - 3 8*8 rt*b M *b ^ *3 .1 ?!l - 3 3 [t s -.1 .3*3 *3 p*3 7 4 *#, 4* * 7 * * 7 .5 -.1 2.8 .4 5 6 46.6 40.3 39.0 3.5 7 2.2 8 1.3 9 15.5 10 8.6 3.8 1.1 1.1 22.5 1 7. 9 18.9 -9.4 -9.2 -.3 4 0.4 33.1 31.6 9.4 5.8 3.6 5.6 13.9 10.7 .2 11 12 13 .3 3.5 3.2 - .1 3.0 2.4 14 15 16 17 20.0 4.9 16.2 - 1.1 22.8 18 19 1.3 p 5*2 -?*0 1,0 ! 3*8 4 "•* 22 2.8 44.8 13.4 13.7 21.5 5.3 » 5.3 27 28 29 30 20.7 3.1 17.4 -9.3 -12.5 3.0 .2 .9 • 1.6 .2 -.1 8.0 2.3 5.6 .6 .9 -.2 4.0 1.2 1.0 57.6 50.5 49.8 6.0 2.3 3.6 38.6 42.1 38.0 19.0 9.5 9.4 64.8 42.4 43.7 23.9 12.7 1.3 5.7 4.2 21.0 19.9 4.8 14.4 .8 .5 2.3 1.9 1 .<4 2.5 3.0 55.1 14.0 * BANKING ?*? " 1bJ o > I'i * 10* 6 * ** " 1,J «•** *** •? *6 . Q I p h f *4 9-0 2,6 ?•* l »° -1.9 ^ „ " * CURRENT SURPLUS i I N C R E A S E IN L I A B I L I T I E S 2‘6 * ? *7 M p M * ER a A *« R E S E R V E S .7 1.2 V A U L T C A S H OF C O M L . B A N K S DEMAND D E POSITS ANO CURRENCY *4 ~4 * 4 D U E 70 U «S « G O V E R N M E N T ' * 2 °U E T ° R E S T °F ™ E * 0 R L D #1 ? *3 CURRENCY OUTSIDE BANKS .7 .4 -.8 OTHER 9 10 11 3.6 1.3 4.1 1.3 47.1 63.9 59.1 .4 -2.5 2.9 94.2 58.7 52.2 ^3.4 2.1 26.1 14.0 1.5 5.9 4.7 20.5 7.6 1.1 23.8 11.9 i.l 2.5 25.2 17.2 1.5 3.4 3.1 5.0 4.2 26.7 10.5 1.9 7.5 6.9 - 2.0 .3 -2.7 .4 11.6 1.8 9.0 .9 18.6 4.0 14.8 -.2 26.8 6.1 21.6 -.8 22.3 6.9 12.1 3.3 4.0 .1 -1.3 .1 -.7 -. 1 1.3 1. 0 -.9 1.6 7. 1 7.5 7.9 -.9 13.4 -5.7 - #l 7 8 1? 13 14 15 (1 ) 49.2 S9.y 56.3 10.2 - m 7,4 i 54.9 45.0 43.7 -3.5 - 6. 6 3.0 1. 2 1.0 n 2 3 4 5 u bl .3 54.5 55.1 10.4 7.0 3.4 16.4 RATES N E T A C 0 * 0F F *N A N « A S S E T S -♦ GOLD AND FOREIGN EXCHANGE ,5 TREASURY CURR. ♦ SDR CTFS, •« »-2 F -R « F L 0 A T F *H * L O A N S T O D O M E S T I C B A N K 6 CREDIT MKT. I N S T RUMENTS -6.0 U.S. GOVT. S E C URITIES *2 5,6 1 ,3 4.7 * * 7,4 “ * 7 Ul -*5 “6 , ° 5.9 * * 7 !* :*H 1.2 6.8 < * 3.9 4.4 5.8 ♦•2 •2 3.9 4.0 1.2 CURRENT SURPLUS PLANT ♦ EQUIPMENT 70.7 N E T A C Q . OF F I N A N . A S S E T S 68 .7 TOTAL BANK CREDIT 65.2 CREDIT MARKET INSTRUMENTS 5 2.1 U.S. GOVT S E C U R I T I E S -.4 DIRECT 2.4 AGENCY ISSUES 4 »6 25.1 7.4 0 *4 8 .6 32.0 5.6 26.2 .2 -.1 3.8 1.2 2.5 6.3 58.4 24.7 11.5 13.2 i 2 3 4 6 7 8 7. 6 9.0 O T H E R S E C U R I T I E S ♦ MTG. 9 S T A T E A N D L O C A L O B L I G 10 CORPORATE BONOS HOME MORTGAGES OTHER MORTGAGES 13 24.7 9.0 17.1 -1.3 38.0 9.8 29.4 - 1 .2 O T H E R CH. E X C . S E C U R I T Y 14 CONSUMER CREDIT BANK LOA N S N.E.C. OPEN-MARKET PAPER 15 16 17 .3 4.5 6.5 3.5 9.2 -19.0 -.9 -1.9 -16.4 1.5 3.3 32.9 -.7 -1.5 - 1 .6 5.1 52.5 1.0 .4 .6 46.6 30.4 11.9 18.5 45.3 7.8 -8.2 16.0 92 . 1 7.9 •3 7.6 68.2 17.6 .3 17.3 6.8 6.6 1*9 1 .2 CORPORATE EQUITIES SECURITY CREDIT VAULT CASH ♦ MEM.BK.RES. OTHER INTERBANK CLAIMS MISC. ASSETS H 12 18 19 20 21 22 2.9 5.8 2.2 37.6 16.2 4.6 1 1.8 11.6 62.7 -.2 -14.8 14.6 .2 38.0 15.2 2?.4 .4 41.4 7.9 33.2 .3 44.1 13.4 30.5 .2 60.9 5.8 54.9 .2 32.8 4.0 28,7 .2 32.4 18.2 13.8 .5 39.3 3.7 35.4 .2 37.7 -6.2 43.5 .4 46.3 10.5 35.4 •5 46.4 21.5 25.0 -.1 TIME DEPOS I T S LAR G E NEG. CD'S O T H E R AT C O M M E R C I A L B K S . AT F G N . B A N K I N G AG. 27 28 29 30 » 2.3 .1 4.2 .1 18.9 7.9 10.9 .2 2.5 .1 -1.9 .3 -10.0 -6.9 -3.1 -.3 1.1 .6 -.4 « -1 .3 -*.1 2.8 2.3 -.7 -.9 .4 1.0 13.4 .4 .2 -.7 -13.9 -5.6 -8.2 2.2 -2.2 2.5 .2 .7 .1 15.7 5.0 10.7 -.8 1.2 -19.0 .6 .3 .4 -5.7 -5.4 -.4 1.1 -1.3 -16.4 3.6 .8 -1.1 13.0 1.6 11.4 •0 F.R. FLOAT B O R R O W I N G AT F . R . B A N K S OTHER INTERBANK CLAIMS BANK SECURITY ISSUES COMMERCIAL PAPER ISSUES P R O F I T TAX L I A B I L I T I E S MISCELLANEOUS LIABILITIES L I A B . TO F G N . A F F I L I A T E S OTHER 3j 32 32.9 •* -•e * 1.2 -.5 -1.6 -14.7 -15.8 1.1 -1.5 -1.2 7.5 .9 -2.6 .1 -1.2 -10.3 9.1 1 .0 .3 1.6 .9 -.2 .2 .1 .6 DISCREPANCY *0 -8.9 .2 (1) 1 1 1/72 -.1 3.8 1.0 .1 *.1 1.1 1.9 * 1,3 *1 ,*! I*! \ n 3 *° o*o 3.9 .1 1.4 23 24 25 26 40 8.2 1.9 4.4 2.0 .1 21 32 33 34 35 36 37 38 39 .9 1.6 3.3 19.0 1.9 1.6 20 .8 3.9 -.1 U ’a « * COMMERCIAL 3. I 1 .6 ANNUAL AUTHORITIES U ’g . 1*5 i u ‘i 1 »*i 1 J-8 t'l -'4 * -.4 .y . p * 1 -*] 3.5 3*4 3 .5 .4 -.2 9 * __________ * _ ________ * _ ____ ADJUSTED ............... 1 9 7 1 .................... 7 .............. \ Z T ? ............................................................ 111 1 SYSTEM S T A T E M E N T S OF S A V I N G A N O I N V E S T M E N T ( M I L L I O N S OF D O L L A R S ) IS B A S E D ON P R F L I M I M a RY a NO INCOMPLETE INFORMATION. C O N S I S T S OF C H A R T E R E D < EDGE ACT C O R P O R A T I O N S POSSESIONS. EDGE ACT A P P E A R T O G E T H E R If •2 .6 2.9 1.6 .1 3.0 4.0 -1.0 •6 .3 **4 MMERCIALBANKS. NET I N C R E A S E IN L I A B I L I T I E S DEMAND DEPOSITS# NET U.S. GOV E R N M E N T OTHER THEIR DOMESTIC AFFILIATES* 23 24 25 2* 33 34 35 36 37 38 39 7 N O V E M B E R 19 T 1 COMMERCIAL B A NKI*6 S UBSECTORS m KING SUBSECTORS S U B S E C T O R S T A T E M E N T S F OR C O M P O N E N T 6 R 0 U P S IN C O M M E R C I A L B A N K I N G ( B I LL I O N S OF D OL LA RS ) SEASONALLY SEASONALLY ADJUSTED ANNUAL RATES 1968 YEAR TOTALS 1969 1970 1 1 1971 1970 IV 1971 1 1 II I 1 I IV HI I 1972 II ADJUSTED ANNUAL RATES III C OMMERCIAL BANKS CURRENT SURPLUS PLANT ♦ EQUIPMENT 1 2 3.0 ,6 3.7 1.8 3.8 1.1 3. 9 1.1 3. 9 1.2 4.0 1.0 3.8 1.0 3. 9 1.2 4.0 1.3 3 .6 1.3 4.1 1.3 4.0 1*2 3 4 5 6 7 8 44,5 39, 8 38,5 3,4 2,2 1,3 14.2 12.2 13.4 -9. 5 -9.2 -.3 37.7 33 . 7 32.2 9. 5 6.0 3.6 56.4 50.2 49.4 6.1 2.5 3.6 44.9 48.4 44.4 18. 9 9.5 9.4 60.7 44 . 4 45.7 6. 9 4. 8 2.1 55 . 9 52 . 8 53.6 11.1 7.6 3.4 51 . 5 44 . 5 4 3.1 -3.6 -6.6 3.0 57.4 58.7 54.9 10.2 4.4 5. 8 54.1 61.8 57.2 -.4 -3.4 2. 9 76.3 59.3 52.8 4 .5 .6 3.9 70.1 66.2 62.6 1.6 -. 8 2.4 N E T A CQ. OF F I N A N * A S S E T S TOTAL BANK CREDIT CREDIT MARKET INSTRUMENTS U.S. G O V T S E C U R I T I E S DIRECT A6ENCY ISSUES 9 10 11 12 13 15,5 8.6 .3 3.5 3.2 5.3 .2 -.1 3.0 2.3 13.6 10.5 .8 .7 1.6 23.9 12.8 1.3 5.6 4 .2 20.1 1 5. 5 1.2 .9 2.5 25.8 1 7. 9 1.5 3. 3 3.1 25.9 13.9 1.5 5 .8 4.7 20. 2 7.5 1.1 6.7 5.0 23 . 6 11.8 1.1 6. 5 4.2 26.5 10.4 1.9 7.4 6.9 23.3 4. 5 1.9 8. 3 8. 6 24.9 7.3 1.2 7 .4 9.0 O T H E R S E C U R I T I E S ♦ MTS. S T A T E AN D L O C A L 0 B L I 6 CORPORATE BONDS HOME MORTGAGES OTHER MORTGAGES 14 15 16 17 18 19.6 4.9 15.8 -1.1 1.3 17.5 3.3 13.7 .5 -1.1 9.1 1.9 5.2 2.0 1.4 19.4 4.8 1 3.8 .8 •8 5. 4 .3 4. 7 .4 4.0 13.0 1.8 10. 3 .9 -1.3 16.5 4.0 12.6 -.2 -.7 26.5 6.1 21.3 -.8 1.3 21.1 6.9 10.9 3.3 3.8 3 1.1 5.6 25.3 .2 4.5 25.1 9.0 17.4 -1 . 3 6.5 36.2 9.8 27.5 -1.2 3.5 O T H E R CR. EXC, S E C U R I T Y CONSUMER CREDIT BANK LOANS N.E.C. OPEN-MARKET PAPER SECURITY CREDIT 19 20 21 22 2.7 1.9 .7 .1 1.2 .5 .6 .2 2.8 1.8 .9 .1 4.7 4.1 .2 .4 -1.9 - 1.0 -1.4 .5 9.3 7.1 2.3 -.1 6.2 -.9 6.9 .2 2.6 1.2 -.1 1.6 .8 9. 2 -8.3 -.1 -1 2 . 1 -1.9 -10.8 .6 19.0 3.3 1 5.9 -.2 -1.0 -1.5 - .4 .8 INTERBANK CLAIMS VAULT CASH ♦ MEM.BK.RES. D EP . AT F G N , B A N K I N G AG, L O A N S T O F G N , B A N K I N G AG, 23 1.9 .6 1.3 1.5 -1.6 6 .9 -3.2 4.4 - 2.1 4,4 -2. 0 4. 9 24 25 26 27 42.6 13.4 -.2 13.6 13.2 5.2 • 5.2 36. 0 8 .6 2. 9 5 .7 53.9 1 3.7 2.2 1 1. 5 43.8 13.8 4.6 9.2 58.5 -.5 -14.8 1 4.3 52.9 24.6 11.5 13.1 49.1 -.7 .4 -1.1 54.8 31.3 11. 9 19.5 52.3 8.3 -8.2 16.4 74.1 7.8 .3 7. 5 67.6 20.1 .3 19. 8 39.1 3.7 35.4 37.3 -6.2 43.5 45.9 10.5 35.4 46.4 21.5 25.0 TIME DEPOSITS L A R G E NEG. C D ' S OTHER 28 INTERBANK LIABILTIES F,R, FLOAT B O R R O W I N G AT F . R . B A N K S DEM.DEP.OF FGN.BK,AS. TIME DEP.OF FGN.BK.A0. D E P , O F B A N K S IN U S PO S S , LOANS FROM AFFILIATES LOANS FROM FGN.BK.AG, 31 BANK SECURITY ISSUES PROFIT TAX LIA B I L I T I E S 39 40 MISCELLANEOUS LIABILITIES L1AB. TO FGN, BR A N C H E S OTHER 41 42 43 2B 29 30 20.6 3.1 17.4 -9. b -12.5 3.0 37.6 1 5.2 22.4 41.1 7.9 33.2 43.9 13.4 30.5 60.7 5.8 54.9 32.7 4.0 28.7 31.9 18.2 13.8 31 32 33 34 35 36 37 38 1.7 .9 • .7 w » . * 1.5 * * •a • .6 .1 2.5 .8 .2 1.2 .1 .1 .1 » .3 .1 -.3 • # .1 .3 * 1.7 2.3 - .7 -.5 .2 .1 .2 # 2. 6 -1.5 -1.2 2.5 .1 .1 1.8 .7 7.8 .4 1.0 6.4 .1 .1 -.2 • 1.0 2.2 -2.2 .8 .1 • .1 -10.3 - .8 1.2 -9.6 .1 -. 4 -. 7 -6.4 1.1 -1.3 -11.6 ,1 • 5 .3 18. 3 .8 .2 12.7 .1 -.5 5.0 -1.4 1.2 -.5 2 .0 ,1 -.6 -4.4 39 40 .2 -.1 .1 .1 .1 .3 .6 * • .2 .9 .1 .4 -.7 .2 .1 .6 .4 3. 6 -1.1 .4 • .6 .1 41 42 43 6.9 1.8 5.1 15.9 6.6 9.1 -13.0 -7.2 -5.8 -1.7 -4.8 3.0 -15.8 -16.0 .2 -5.2 -10.4 5.2 -11.8 -6.2 -5.6 16.5 3.9 12.6 -6.3 -6.3 • 10.6 2.5 8.1 1.8 -.4 2.2 1,8 2,4 ~#6 44 .6 .9 1.0 .3 1.6 .9 -. 2 . .2 .1 .6 .6 3 ,3 - MISC, ASSETS N E T I N C R E A S E IN L I A B I L I T I E S D E M A N D D E P O S I T S * NE T U.S. G O V E RNMENT OTHER DISCREPANCY 24 25 26 27 29 30 32 33 34 35 36 37 38 44 D O M E S T I C A F F I L I A T E S OF C O M M E R C I A L B A N K S 1 2 3 . 4 5 6 _ - - 4.5 3.9 .6 -.9 -1.0 .1 .2 -.1 .3 -8.8 -9.1 .2 1.4 - .4 1.8 .6 .8 - .2 -.4 -.4 • -.9 -.5 -.4 -.3 - .3 • -2.4 -1.9 -.5 - .7 -.1 -.6 NET ACQUIS, OF FINAN, ASSETS BANK LOANS N.E.C, LOA N S TO AFFILIATE BAN K S 1 2 3 4.5 4.2 .3 -.9 -1.9 1.0 .2 - .4 .6 -8.8 -8.9 .1 1.4 -2.6 4.0 .6 .2 .5 - .4 .7 -1.1 -.9 .3 - 1. 1 -.3 .8 - 1.1 -2.4 - .8 -1.6 -.7 1.6 -2.3 N E T I N C R E A S E IN L I A B I L I T I E S COMMERCIAL P APER ISSUES MISCELLANEOUS LIABILITIES 4 5 6 -6.9 1.B 2 0.1 1.1 -.4 -.1 1.1 1.6 * E D G E AC T C O R P O R A T I O N S A N D A G E N C I E S OF F O R E I G N B A N K S 1.9 .4 2.6 1.4 3.0 .2 - .1 2.4 -1.9 2.2 2.6 -.2 -.7 .2 -.1 1.7 .4 - 4.5 .5 - .7 3.6 .7 -7.7 1 .6 - .1 -.1 1.0 1.1 N E T ACQ . OF F I N A N C I A L A S S E T S 2.5 CREDIT MARKET INSTRUMENTS ,4 U.S.GOVT. SECURITIES .1 STATE♦ LOCAL G O V T , S EC. CORPORATE BONDS 2. 0 BANK LOANS N,E,C. OPEN-MKT. PAPER 8 9 10 11 12 13 .7 • • .7 • — .8 .1 .2 .1 _ 1.2 .1 • 1.4 • — • • • .4 .1 — -.5 .2 * -. 2 .1 2.5 .1 .7 .9 .1 6. 4 .1 • -2.5 -.1 .8 .1 2.0 -.1 -9.6 -.7 1.2 .3 — -11.6 5.3 -2.9 12.7 5. 0 1.4 . — 2.8 -4.4 .2 14 15 16 17 18 1.9 .1 .2 .7 .1 2 .6 .1 .2 .6 .2 3.0 .1 .4 .9 .1 .7 . .3 .3 .2 .4 2.2 2 .4 .2 -1.4 .5 2 .4 .3 .2 2 .3 -.1 4.5 .1 .2 6.9 .2 3.6 1.7 .5 -.1 1.6 -7.7 -.9 .2 -8.3 -.1 -6.9 - .5 .4 -10.8 .6 20,1 .1 .5 1 5.9 -.2 1.1 -2.5 -.1 -. 4 .8 19 20 21 .8 .5 .3 l.b 1.2 .4 1.5 .2 1.3 -.5 .7 -l.l •6 .2 .3 -.4 .1 -. 5 -2.8 .6 -3.4 -.1 1.1 -1.2 1.4 .9 .5 3. 3 -.» 4.2 3. 8 1.7 2.1 3.2 1.6 1.6 .3 .1 .2 • .1 • .1 .1 • * .2 ,1 ,2 • ,1 • ,1 ,1 • .3 ,2 N E T INCR. i n d e p o s i t L I A B , .1 banks 1 2 3 4 5 6 7 8 9 10 .3 • ,1 • • • • • • .1 1.1 • .2 • • • .2 • .1 .9 .3 1.1 u . s . .3 .1 .2 .1 .1 • .1 .1 • * .4 .1 .1 • • • .1 .1 • .2 .4 .1 .2 • ,1 • ,1 ,1 • ,1 .3 .1 .3 .1 .1 .1 .1 • • .3 .1 .3 .1 ,1 • ,1 .1 • .3 .1 .2 • .1 .1 .1 • • .3 ,1 ,2 ,1 ,1 • .1 ,1 * .5 .3 .4 ,4 .3 .3 .3 .3 A N O I N C O M P L E T E IN F O R M A T I O N . . 8 9 10 11 12 13 E T I N C R E A S E IN L I A B I L I T I E S DEM , O E P , IN M O N E Y S U P P L Y TIME DEPOSITS D E P O S I T S OF B A N K S LOANS FROM BANKS 14 15 16 17 18 MISC. LIABILITIES DUE TO F6N, AFFIL I A T E S OTHER 19 20 21 possessions .5 .1 .1 • • • ,1 ,1 • ,3 I I 1/ 72 IS B A S E D ON P R E L I M I N A R Y 11 in CORPORATE EQUITIES SECURITY CREDIT O E M . D E P O S I T S AT COM , B A N K S T I M E D E P , AT COM , B A N K S L O A N S TO B A N K S MISC. ASSETS 1 2 3 4 5 6 7 D E P O S I T S AT B A N K S C R E D I T MKT , I N S T R U M E N T S U.S.GOVT. SECURITIES S T A T E ♦ L O C A L G O V T , SEC, CORPORATE BONDS MORTGAGES HOME MORTGAGES COMMERCIAL MORTGAGES MISCELLANEOUS ASSETS 7 N O V E M B E R 19 72 NONBANK FINANCE SUMMARY NONBANK SECTOR SEASONALLY ADJUSTED ANNUAL YEAR TOTALS PRIVATE 1 .2 .7 3 4 5 \49.7 6 -.3 7 8 9 9.4 36.0 10 11 46.5 1.0 2.1 1.2 .1 -.1 12.8 35.0 -1.9 1.0 9.5 6.8 12 13 14 15 16 17 18 6.6 6.5 7.0 3.8 3.8 4.1 9.7 .3 1.3 .4 .9 19 20 48.5 7.9 19.1 12.4 1.6 27 28 49.3 12.7 18.6 6.7 .8 .2 2.3 3.3 2.5 .9 29 30 31 32 4.7 2.0 ,2 4.4 33 -.9 21 22 23 24 25 26 2.0 6.8 - 2.6 IV I NONBANK 2.0 1.0 4.1 54.5 1 .5 .2 III FINANCIAL 19.2 56.0 3.1 52.9 17.0 77.3 40.8 22.2 24.0 1 .» 14.5 17.7 | CURRENT SURPLUS PHYSICAL INVESTMENT 1 2 3 4 5 6 - TOTAL 3.8 1.4 4.4 1.8 4.0 .5 3.9 1.1 4.3 1.2 62.8 2.3 .3 91.2 76.2 2.0 -.2 .2 .4 83.3 -.1 .1 -.8 94.6 -1.5 .1 .7 98.0 2.1 .1 -.1 101.0 1.3 .6 70.4 1.0 .1 .1 -.1 NET ACQUIS. OF FINAN, ASSETS DEM. D E P O S I T S ♦ CURR, T I M E D E P O S I T S ( M SB) S V G S . ♦ L O A N S H A R E S (C R U) 14.3 38.3 3.5 2.4 12.9 21.8 19.5 56.5 3.2 .6 12.6 17.6 13.4 2.5 18.1 48.3 2.4 3.2 8.5 20.2 11.2 3.7 -.9 .7 .5 1.6 17.2 62.3 -2.3 2.0 19.1 19.6 15.3 4.8 3.7 2.6 .5 1. 4 13.5 67.8 12.3 1.2 15.6 20.1 10.4 5.3 2.9 7.8 .5 5.6 16.5 73.0 4.5 2.2 13.4 27.6 14.5 6.2 4.5 5.7 .5 .4 17.4 73.9 3.0 1.9 15.5 34.2 13.0 5.2 1.1 5.6 .5 2.4 CORPORATE SHARES CR E D I T MKT, INSTR, U.S. GOVT. SECURITIES STATE ♦ LOCAL OBLIG, COR P O R A T E ♦ FGN, BONOS HOME MORTGAGES OTHER MORTGAGES CONSUMER CREOIT OTHER LOANS SECURITY CREDIT TRADE CREDIT MISCELLANEOUS ASSETS 7 0 9 10 11 12 13 U 15 16 17 16 80,1 33.5 24.6 10.4 4.3 .8 -.3 5.7 5.7 • 87.5 57.6 16.8 2.9 5.9 .2 6.1 -9.3 -3.3 -6.0 91.9 41.5 29.1 7.5 4.2 2.0 -.7 2.1 1.5 .6 97.5 45.1 24.0 14.0 4.5 1.5 7.2 .9 -l.l 1.9 N E T I N C R E A S E IN L I A B I L I T I E S TIME ♦ SVGS. ACCOUNTS IN S U R A N C E AND P E N S I O N RES, CR E D I T MKT, INSTR, F I N A N C E CO. B O N D S M T G . L O A N S IN P R O C E S S BANK LOANS N.E.C, OTHER LOANS F I N A N C E CO, PAP E R FHLB LOANS 19 20 21 22 23 24 25 26 27 28 11.6 10.0 3.0 3.3 -1 . 8 -.4 ?.0 2.1 1.8 ANNUAL RATES 3.4 1.3 12.5 .5 IV ADJUSTED 1972 II 4.1 1.3 1. 0 11 .3 38.7 4.0 1.0 11.9 7.1 8.4 .6 4.9 -1 .4 .5 3.8 INSTITUTIONS .2 56.4 9.1 1.7 17.9 13.2 10.0 .8 .5 4.1 3.7 1.9 .5 7.9 64.6 26.2 23.4 3.2 3.7 86.7 52.0 25.4 4.0 4.5 6.8 2.8 .5 -3.6 71.5 42.4 24.7 -3.4 2.3 3.7 1.4 . -2.5 1.3 4.3 3.8 2.0 1 .4 -2.9 -.2 -2.7 .7 -.7 - 1.8 -9.8 71.0 35.4 21.2 6.1 4.0 1.7 -2.0 2.4 1.5 .9 5.5 -2 .0 .1 5.4 2.6 1.4 .2 5.0 1.3 .6 -.1 6.5 .7 4.8 .6 5.8 -2.0 1.0 .2 6.2 2.7 -2.5 -.1 7.6 2.0 -.2 -.1 6.5 2.5 4.0 -.5 5.5 -2.7 5.2 .1 7.6 2.0 4.2 .3 7.3 .5 5.6 .6 7.7 1.0 -.5 -.6 -1.7 -2 .6 3.0 -.7 -3.6 -3.4 -.4 DISCREPANCY CURRENT • 3.7 2.5 .6 2.1 -.6 8.7 4.7 1.1 -.2 SUMMARY 10 SEASONALLY | FINANCE INVESTMENT RATES 1*71 2 S T A T E M E N T S OF S A V I N G AN D ( BI L L I O NS OF DO LLA RS) 1.8 2 .1 6.5 -8.9 -7.0 -.1 5.0 SAVINGS AND LOAN 10.8 1.0 - - I N V E S T M E N T CO, S H A R E S SECURITY CREDIT taxes payable MISCELLANEOUS LIABILITIES 29 30 31 32 ASSOCIATIONS 1 1.0 1.0 1.1 1.5 1.3 1.4 1.5 1.6 1.6 1.6 1.7 1.6 2 3 4 5 6 7 8 9 9.7 * .4 10.1 .7 7.2 2.1 .1 • 9.3 -.2 9.8 .3 7.7 1.8 • -.2 14.1 .3 11.3 1.2 7.2 3.0 ■* 2.5 30.1 .5 29.4 5.2 18.0 6.1 .1 .2 20.6 .6 17.2 .8 11.5 5.0 • 2.8 37.8 .1 32.3 14.2 13.0 5.1 -.1 5.4 26.5 1.0 30.0 4.0 18.4 7.5 .1 -4.5 29.8 .9 29.6 2.5 21.3 5.6 .1 -.6 26.5 .1 25.9 .2 19.4 6.3 .1 .5 37.1 .1 34.8 9.3 18.7 6.7 • 2.2 35.8 ,9 35.1 2.0 25.4 7.5 .2 -.2 40.2 1.0 37.9 3.2 27.6 7.1 .1 1.3 NET ACQ. OF FINAN, ASSETS DEMAND DEPOSITS ♦ CURRENC CREDIT MKT, INSTR, U.S. GOVT. SECURITIES HOME MORTGAGES OTHER MORTGAGES CONSUMER CREOIT MISC. FINANCIAL TRANS. 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 8.9 7.4 1.1 .2 .9 .1 .4 8.4 3.9 4.1 • 4.0 .1 .4 13.3 10.9 1.8 .6 1.3 -.1 .6 20.9 28.1 « 2.0 -2.7 .7 .0 20.2 17.3 1.9 2.1 -.7 .5 .9 36.9 36.5 -.7 1.8 - 1.8 -.7 1.0 25.8 28.4 -4.4 3.7 -9.8 1.7 1.7 28.8 25.0 3.0 1.7 .9 .4 .8 24.2 22.4 2.1 *8 * 1.3 -.3 36.0 41.5 -7.1 .2 -6 .0 -1.3 1.5 35.1 29.2 4.3 2.0 .6 1.7 1.5 39.2 33.1 4.0 1.5 1.9 .6 1.9 N E T I N C R E A S E IN L I A B I L I T I E S SAVINGS SHARES CRE D I T MKT. INSTR, M T G . L O A N S IN P R O C E S S FHLB ADVANCES BANK LOANS N.E.C. MISCELLANEOUS LIABILITIES 10 U 12 13 14 15 16 17 18 .3 .9 .1 4.4 .4 * .4 -2.1 .9 -3.4 .5 -6.4 .8 -4.3 .7 2.1 -.6 .1 .5 -7.1 MUTUAL SAVINGS BANKS 1.0 1.7 . .6 1.6 SURPLUS DISCREPANCY MEMOFHLB LOANS LESS 1 DEP. 17 18 1 .2 .3 .4 •5 .5 .5 .5 .5 .6 .6 •6 .6 2 3 4 5 6 7 8 9 10 11 12 13 14 4.6 •1 « .3 4.1 -.2 * 1.3 1 .4 1.4 .2 • .3 3.1 * -.1 .2 2.9 -.5 * .3 1.4 1.3 .2 .3 * 4.7 .1 .2 .3 3.8 .2 * 1 .3 .9 .9 .3 .2 .3 10.6 « .2 .5 9.3 .4 .2 4.3 1.2 2.7 .3 .3 5.9 .3 .3 .4 4.7 - .1 2.1 1.3 1.3 .3 -.2 .3 13.8 .2 .2 .4 12.3 -.1 .2 7.7 .9 2.1 .5 1.1 .8 12.3 -.3 .2 .4 11.3 .9 .3 6.0 1.0 2.6 .4 -.2 .6 7.2 -.3 .1 .4 6.1 .7 .1 1.0 1.2 2.7 .1 .2 .9 9.1 .3 .1 .7 7.7 -.2 ,2 2.5 1.8 3.3 .1 * .2 15.0 -.2 .1 .7 11.4 .2 .5 5.3 2.2 2.2 .6 .4 3. 1 u.i .i .i .8 10.4 .4 .5 3.4 3.0 2.7 .4 -.3 10.6 .3 .5 9.5 -.5 .7 3.4 3.2 2.6 .1 .1 .2 15 16 4.2 .1 2.6 .2 4.4 .1 9.9 6.8 -.3 12.5 * 11.0 .1 .2 7.4 .3 0.5 .1 12.2 .5 9.1 .4 9.0 .4 SAVINGS DEPOSITS MISCELLANEOUS LIABILITIES 15 16 -.1 * .2 -.1 1.1 -.9 -.6 1.0 .1 - 1.8 - 1.1 -.7 DISCREPANCY 17 2.6 « -.0 3.4 1 .4 2.0 . 1 3,9 . .7 3.2 1.3 1.8 .1 3.2 -.1 3.3 1.2 2.0 .1 2.9 • -.1 3.0 1.3 1.7 .1 N ET A C Q U I S , OF F I N A N , A S S E T DEM, DEPOSITS ♦ CURR, SVGS. ♦ LOAN SHARES CREDIT MKT, INSTR, U.S.GOVT. SECURITIES CONSUMER CREDIT HOME MORTGAGES 2.6 3.9 3.2 2.9 CREDIT 17 .6 CREDIT 3 4 5 6 7 1.1 • -.3 1. 4 .2 1.2 « 1.4 • • 1. 5 .1 1.4 8 1.1 1.4 1 2 1 1 1/ 72 IS 0 A S E O 1.7 .2 * 1 .5 .9 .1 1. 7 ON P R E L I M I N A R Y 2.9 « * 2.9 1.1 1.7 .1 ^.9 AND SURPLUS 1 UNIONS 2.0 ‘ .2 •8 i.i .5 .5 .1 3.0 .1 .6 2.3 1. 1 1.2 .1 3.0 » .4 2.6 1.0 1.6 « 3.0 • .1 3.0 1.1 2.0 3.0 l.U 3.0 INCOMPLETE CURRENT NET ACQ. OF F I N A N C I A L ASSET 2 DEM. D E P O S I T S ♦ CURR, 3 TIME DEPOSITS 4 CORPORATE SHARES 5 CR E D I T MKT, INSTR. 6 U.S. GOVT. SECURITIES 7 ST A T E ♦ LOCAL GOVT, SEC, 8 CORPORATE BONOS 9 HOME MORTGAGES 10 OTHER MORTGAGES 11 CONSUMER CREDIT 12 OTHER LOANS 13 MISCELLANEOUS ASSETS 14 INFORMATION. 1.9 » UNION SHARES 1 2 3 4 5 6 7 8 7 N O V E M B E R 1972 I N S U R A N CE ♦ W N S I M FUNOS INSURANCE * PENSION FUNOS S E C T O R S T A T E M E N T S OF S A V I N G A NO IN V E S T M E N T (B I LL IO N S OF DO LLA RS ) SEASONALLY ADJUSTED ANNUAL RATES YEA R T O T A L S 1969 1970 1971 SEASONALLY ADJUSTED ANNUAL RATES I 1 970 IV | I 1971 II 1972 II III LIFE INSURANCE COMPANIES 1 2 •6 .7 .9 .B .8 1.0 1.0 1.4 .8 1. 0 1.0 1.3 1.0 1.3 1.1 1.4 1.1 1.8 1.1 .5 1.2 1.1 1.2 1.2 3 4 9.8 *1 9.2 • 9.9 .1 12.5 • 9.7 .2 12.8 .3 12.0 -.1 12.3 -.2 13.0 .1 14.5 -.7 12.9 1.2 13.9 -. 1 5 6 7 8 9 10 11 12 13 1. 4 7.7 -. 1 .2 3.9 -.7 3.2 1* 2 .6 1.7 6.7 -.3 * l.b -1.1 3. 1 3.4 .9 2.0 7.0 .1 •i 1.5 -1.3 3.6 3.0 .8 3.6 ft.l -.2 .2 5.1 -2.1 3.3 1.6 .8 2.9 5.8 -.2 .1 1.9 -1.4 3.3 1.9 .8 4.5 7.2 -.6 » 3.6 -1.9 2.7 3.3 .8 3.4 7.9 -.1 .4 3.9 -2.1 2.7 3.2 .8 3.2 8.5 -.1 .3 5.6 -2.2 3.8 1.1 .8 3.5 8.6 .1 .1 7.4 -2.1 4. 1 -1.1 4.2 10.1 .5 9.1 -3.3 2.8 1.0 .8 4.2 6.7 -.3 -.7 5.1 -2.3 3.2 1.6 .8 4.3 8.9 -. 1 .1 7.2 -1.8 3.3 .3 .8 14 15 16 17 9.1 4.6 2.9 1.5 9.2 4.8 2.9 1. 4 10.2 5.1 3.3 1. 7 11.8 6.6 3.3 2.0 10.7 5.5 3.3 1.6 11.3 6.1 3.3 1.8 11.8 6.6 3.3 2.1 12.1 6.8 3.3 2.0 12.0 6.8 3.3 2.2 12.4 7.2 3.3 2.0 12.4 7.2 3.3 1.9 12.7 7.5 3.3 1.9 NET 18 -.8 .1 .1 -1.1 .8 -1.8 -.4 -.5 -1.7 -1.4 -.4 -1.1 DISCREPANCY PRIVATE PENSION 6.4 •3 6.3 * 7.1 .2 7.3 -.2 8.8 -. 1 8.2 .7 7.5 -1.3 5.1 .4 8.2 -.5 3.2 -1.0 7.4 -. 1 5.4 -.3 3 4 5 6 7 8 4.7 1.1 .4 .6 • .4 5.4 .6 -.2 .6 .1 .3 4.6 ? •4 .2 2.1 .1 * 8.9 -1.6 -.3 -.7 -.6 .1 6.2 2.4 -.5 2.8 .1 .2 9.6 -2.9 -.1 -2.2 -.6 .8 11.6 -2.3 -1.0 -.4 -.8 -.6 6.9 -2.6 • -1.9 -.7 .3 7.5 1.6 • 1.9 -.4 -.3 7.7 -2.8 1.3 -2.8 -1.2 -.7 8.6 -1.0 • -.6 -.4 -.1 7*0 -1.2 .3 -.8 -.6 -.1 GOVT. EMPLOYEE ♦ LOCAL RETIREMENT 4.7 .1 5.0 -. 1 6.8 .1 6.8 -.1 5.8 .6 7.8 -.1 7.4 .1 6.0 • 6.2 -.4 3.1 -.2 11.2 -.4 7.8 .2 3 4 5 6 7 8 9 10 11 12 1.3 3.2 .3 -.2 .5 * 4.2 2.5 .4 .1 1.8 3.4 -.3 -.3 .1 -.1 5. b 3.1 .6 • 2.1 4.3 -.1 -.4 .3 -.3 b. 8 3.9 .8 .2 3.2 3.6 -.8 -.5 -.3 -.2 7.9 4.4 .3 .1 2.9 2.2 -.4 -.7 .3 -.4 6.0 2.7 .4 .1 2.8 5.0 -1.1 -1.0 -.2 • 8.9 6.1 .1 .1 3.1 4.2 -1.5 -1.3 -.3 « 8.8 5.4 .3 .1 3.8 2.0 .6 .5 .1 -.6 5.8 2.8 -.9 .1 3. 1 3.4 -1.3 -.4 -.9 -.2 8.0 3.3 1.6 .2 2.1 1.1 -.5 -.2 -.3 -.2 3.9 3.2 -1.4 .1 3.8 7.7 -.3 -.6 .3 .1 11.6 6.8 1.0 .2 3.8 3.6 -.4 * -.4 -.1 7.9 4.2 » .2 INSURANCE ACQUIS. OF FINAN. ASSETS OEM. D E P O S I T S ♦ CURR, CORPORATE SHARES CREOIT MKT. INSTRUMENTS U.S. GOVT. S ECURITIES STATE AND LOCAL OBLIG, CORPORATE ‘ BONDS HOME MORTGAGES other other mortgages loans MISCELLANEOUS ASSETS I N C R E A S E IN L I A B I L I T I E S LIFE INSURANCE RESERVES PENSION FUND RESERVES OTHER LIABILITIES NET ACQ, OF FINAN, ASSETS DEM, O E P O S I T S ♦ CURR. CORPORATE SHARES C R EDIT MKT. I N S T R UMENTS U.S. GOVT. S E C U R I T I E S CORPORATE BONDS MORTGAGES MISCELLANEOUS FUNDS 1 2 OTHER NET FUNDS 1 2 STATE CURRENT SURPLUS PHYSICAL INVESTMENT NET ACQ.OF FINAN, ASSETS DE M A N D OEP. AND C U R R E N C Y CORPORATE SHARES CREDIT MKT. INST R U M E N T S U.S.GOVT.SECURITIES DIRECT U.S.G. AGEN C Y SEC. STATE ♦ LOCAL OBLIGATION OTHER CR.MKT.INSTRUMENTS CORPORATE BONDS MORTGAGES OTHER COMPANIES 1 .1 -.1 .8 l.b 1.4 1.3 1.5 1.6 1.6 1.6 1.6 1.6 CURRENT 2 3 3.1 .1 2.9 • 5.4 .1 4.9 • 5.3 .1 4.0 • 5.3 • 4.9 5.4 • 5.7 * 5.8 • 6.1 • N ET ACQ. OF F I N A N . DEMAND DEPOSITS 4 5 6 7 8 9 10 .8 1.9 -.2 1.0 1.2 • .3 1.0 1.6 -.5 1.2 .8 • .4 1.0 3.9 .1 1.5 2.3 * .5 2.5 1.9 -.4 1.5 .7 .1 .5 1.3 3.4 • 1.5 1.9 • .5 1 .1 2.4 -.4 1.5 1.2 • .5 3.0 1.8 -.4 1.5 2.9 1.4 - .6 1.5 2.9 2.0 -.1 1.5 2.7 2.5 .1 .5 2.3 2.8 -.4 2.2 1.0 .1 .5 2.8 2.8 -.5 1.8 1.4 .1 .5 11 12 2.4 3.4 -.5 .4 3.5 -1 .2 3.4 • 3.7 -.2 3.5 .9 3.5 -.4 3.3 -.5 3.7 -. 5 3.7 - .5 I 11/72 IS B AS E D ON P R E L I M I N A R Y AND INCOMPLETE .6 • .5 INFORMATION. .6 •5 3.4 - .6 2.0 1.1 .1 .5 3.9 -.6 SURPLUS ASSETS * CURRENC CORPORATE SHARES CREDIT MKT. INSTRUMENTS U .S. G O V T . S E C U R I T I E S STATE ANO LOCAL OBLIG. CORPORATE BONDS COMMERCIAL M0RT6A6ES TRADE CREDIT NET INCREASE DISCREPANCY IN L I A B I L I T I E S 5 6 7 e 9 10 li 12 13 14 15 16 17 7 N O V E M B E R 19 72 F I N A N C E N. E . C . F I N A N C E N .E. C . S E C T O R S T A T E M E N T S OF S A V I N G ANO ( B I L L I ON S OF D O LL AR S) 12 IN V E S T M E N T SEASONALLY ADJUSTED ANNUAL RATES SEASONALLY ADJUSTED ANNUAL RATES YE A R T O T A L S I 1970 | i 1 I 1 97 2 II ii -1.8 r\j i OJ 1 1 -1.1 -.7 .1 -.1 finance 1 * 2 * 3 4 5 6 7 8 9 -1.1 -1.1 -.5 -. 9 -1.2 -.7 1C O M P A N I E S 5.5 .2 .6 \2.4 2 .2 8.0 .3 .3 2 .6 4.8 1.9 .3 .1 -.6 2.1 4 .? .3 1.1 1.0 1 .9 -1.0 .3 • -2.6 1.3 5.2 .3 1.7 -.8 4.0 3.2 .3 1.0 .3 1.6 1.6 .3 .5 1.6 -. 7 6 .5 .3 1.0 2. 7 2.5 10. 7 .3 3.7 2.8 3.9 6. 0 .3 1.8 4.0 -.1 9. 3 .3 5.8 3.3 • 5.5 .8 2.3 2.5 8 .3 1.6 2.1 4.7 1.8 2.5 -.5 -.2 4.3 . 3 .8 .7 -.2 1.3 3.7 -3 . 0 .7 4 .7 4 .5 7.2 -7.0 1.1 2. 3 -.3 -1.0 3.1 4.0 -2.4 1.5 8.3 4.3 -1 . 7 5. 7 10.0 5.9 7.4 -3.3 3. 3 4.2 -2.4 1.5 10.0 4.5 6. 6 -1.1 N E T A CQ. OF F I N A N . A S S E T S DEMAND OEP.* CURRENCY HOME M 0RT6A6ES CONSUMER CREDIT O T H E R L O A N S (TO BUS.) 1 2 3 N E T I N C R E A S E IN L I A B I L I T I E S CORPORATE BONOS BANK LOANS N.E.C. OPEN MARKET PAPER 6 7 8 9 a 5 OPEN-END INVESTMENT COMPANIES 1 -2.2 -2 . 2 -1.0 -.9 .3 -.1 -1.3 -1.2 -.7 -1.1 -1.5 -1.3 2 3 2. 5 .1 3.3 -.1 1.6 » .5 .1 .9 .2 -2.2 .4 1.5 .1 .8 -.1 1.8 .1 -3.7 .2 .5 .1 -.8 -.1 4 5 6 7 a 1.5 .9 .2 .4 .3 2.5 .9 -.5 .2 1.2 1.1 .5 .2 .7 -.4 .4 -.1 -.3 1.6 -.9 .1 2. 4 >3.4 2.0 -4.5 .2 • -4.7 .6 .8 -1 . 0 -.4 2.2 1.7 - .8 -. 7 1.4 -1.5 ‘ 2 .4 4.2 .4 1.5 2 .2 -2.4 -1.6 • .8 -2.4 -1.8 2.2 * -.5 2.6 -1.2 .5 -.3 • .8 9 4.7 5.5 2 .6 1 .3 .7 -2.0 2.7 2.0 2.5 -2.7 2.0 .5 .6 -.4 CURRENT SURPLUS 1 N E T ACQ . O F F I N A N . A S S E T S DE M . D E P O S I T S ♦ C U R R . 2 3 CORPORATE SHARES C R E O I T MKT . INS T R . U.S.GOVT. SECURITIES CORPORATE BONOS COMMERCIAL PAPER 4 5 6 7 8 NET SHARE ISSUES 9 1 2 3 4 5 6 7 8 SE C URITY BROKERS AND DEALERS 1 2 3 4 5 6 7 8 9 10 11 2.4 .4 . -.5 .4 .8 • -.5 2 .0 -2.1 .3 .2 • • -. 2 .2 -2.6 1.2 • .2 2.4 1.7 •6 .2 -1.4 2.0 1.0 1.0 •2.0 -1.0 -1 . 0 1.4 1.9 -.6 .5 * • -1.5 -1 .6 .1 • ?.0 .6 .7 . -.1 4.7 • -1 . 0 3. 6 3.4 1.2 -1.0 2.1 .9 — 1.5 ■2.6 •4.0 -.1 1.5 1.9 -2.5 • -2.5 -2.8 1.4 -1.6 -2.5 2.8 -. 3 • -. 9 • -1.0 1.8 -.9 .7 ♦.0 • 1.9 -.6 -2.8 .3 1.9 2.6 5.1 • -1.1 -1.6 .7 -1.3 -1.1 7.8 4.2 • >1.8 .3 1.9 .2 ‘ 1.8 5.7 5.6 * .2 -. 2 • -.5 .2 5.6 NET ACQ. OF FINAN. ASSETS D E M A N O OEP. ♦ CURRENCY CORPORATE EQUITY SHARES C R E O I T M K T . I N STR. U. S . 8 0 V T . SECURITIES S T A T E * U > C A L S O V T . SEC. CORPORATE^FGN. BONOS SECURITY CREDIT 4.8 4.6 .2 1.0 •1.3 2.3 -2.5 -.9 -1.6 -.2 1.3 -1.5 4 .0 3. 5 .6 5.2 3.9 1.3 4.2 5.4 •1.2 5.6 2.7 3.0 N E T IN C R . IN L I A B . - SEC . CR 9 FROM BANKS 10 CUSTOMER CREOIT BALANCES 11 1 1 1 / 7 2 IS B A S E D O N P R E L I M I N A R Y A NO I N C O M P L E T E I N F O R M A T I O N . 7 N O V E M B E R 1972 R EST OF THE W ORLD REST Of THE WORLD SECTOR SEASONALLY ADJUSTED ANNUAL 1968 YE AK 1969 TOTALS 1971) S T A T E M E N T S OF S AV T NG AND ( B I L L I O N S OF DO LL A R S ) 13 INVESTMENT RATES ADJUSTED ANNUAL RATES SEASONALLY 1971 1 | 1970 IV | 1 1971 I REST II OF THE IV III 1 1 I 1972 II III WORLD 2.5 50.6 48.1 2.9 .4 1.9 bb.D 53.6 2.9 1.0 3. ft 62.9 59.3 3.2 -.4 .7 66. 1 65.4 3.6 ?.a 2.8 63.2 60.4 3.4 .5 4.5 66.3 61 .8 3.2 -1.4 .1 66.7 66.6 3.4 3.2 .4 68.5 68.2 3.8 3.4 -2.1 63,0 65.1 4.0 6,1 •4.6 70.7 75.3 3.8 8.4 -5.2 70.0 75.2 3.8 9.0 -3.4 75.0 78.4 4.0 7.5 6 7 8 9 10 .9 H.b 1.2 .6 -.3 3.4 10 . 3 -1.0 .3 1.1 .7 S.8 .8 .2 -1.7 13.b 22.2 1.3 .2 .b 2.5 6.0 2.2 1 .8 -4.7 2.8 10.8 .9 -1.2 -1.3 12.4 23.6 2.6 .6 2.7 23.5 33.7 1.8 -1.1 1.8 16.0 20.8 « 2.6 -1.0 5.1 18.5 2.2 -.7 .4 13.3 14.5 « 4.6 1.3 13.0 15.7 • 1.0 • NET F I N A N C I A L INVESTMENT NET ACQ U I S . OF FINAN. ASSET GOLD ♦ SDR'S U.S. DEM. DEP. ♦ CURRENCY TIME DEPOSITS 6 7 8 9 10 11 12 13 14 15 2.1 .3 -.5 .2 .6 l.b -.3 -1 ,tf .b 1.0 .7 10.3 9.1 .7 .S .9 26.4 26.3 .3 -.2 2.0 20.9 17.6 .4 2.9 .3 25.3 25.0 .7 -.4 « 28.1 26.6 -.3 1.8 .9 32.1 30.0 .6 1.5 2.2 20.2 23.6 .1 -3.5 2.8 14.3 11.0 .3 3.0 .7 -3.4 -.2 .1 -3.4 1.8 9.4 10.2 .1 -1.0 U.S.CORPORATE SHARES CREDIT MKT. INSTRUMENTS U.S. GOVT. SECURITIES U.S. CORPORATE BONDS(l) ACCEPTANCES 11 12 13 14 15 16 17 .3 .9 -.2 .8 -.1 1.3 « » .2 1.7 .6 -.4 -.4 -.3 -.3 -.2 -.1 .9 .1 .2 -.1 1.6 .1 .3 16 17 18 19 20 2.3 .3 .7 7.9 .b -.7 -6.9 1.0 .3 -4.1 -.2 -2.9 -15.8 .6 -3.1 -10.3 .4 -3.4 -b.6 -.1 -4.1 5.0 -1.6 -4.8 -5.4 .5 .9 1.6 -1.4 -.9 1.4 1.4 7.0 4.0 .4 -1.2 SECURITY CREOIT TRADE CREDIT S A N K L I A B I L I T I E S TO FOREIGN AFFILIATES D I R E C T I N V E S T M E N T IN U . S . UNALLOCATED 21 22 7.6 2.1 6.9 .3 S.l -2.5 8.6 -1.7 3.5 -1.9 8.1 -2.5 11.2 -.7 10.2 -3.7 4.8 • 13.4 -.3 1.2 .2 2.7 -.5 23 24 25 26 27 .2 2.9 1.1 -.2 2.1 .b 2.9 1.0 -.6 2.4 .1 3.0 .9 « ?.l « b.6 .9 2.7 2.1 .3 4.7 1.0 -.7 4.4 .3 3.9 1.1 -.4 3.2 .4 6.3 1 .1 2.7 2.5 • 8.0 1.0 5.9 1 .1 -.6 4.2 .3 2.3 1.6 -.2 4.4 1.8 .6 2.1 -.3 1.9 1.7 2.8 -2.6 -.3 1.3 -.3 2.3 -.8 FGN. CORPORATE SHARES CREDIT MKT. INSTRUMENTS CORPORATE BONDS BANK LOANS N.E.C. OTHER LOANS 23 24 25 26 27 28 29 30 31 32 33 .2 .4 .1 .5 1.1 .2 -.2 .8 .2 - .5 2.2 .7 • 2.1 .2 -.2 3.6 -1.1 • -.4 .3 .4 3.4 1.0 .3 3.1 .3 -.8 3.3 -5.8 .1 -3.9 .1 1.1 4.1 4.8 -.1 .7 .2 -.2 4.4 • .1 .1 .4 .8 4.3 .2 « 1.6 .2 -.2 .7 -1.2 .3 .5 .1 .9 4.0 3.6 -.2 -.5 .3 .5 -2.7 2.1 .1 -.2 .2 -.2 .5 1.9 S ECURITY DEBT TRADE DEBT U S G E Q U I T Y IN I B RD* E TC. F G N . C U R R . H E L D IN U . S . U . S . D I R E C T I N V . A B R O A D (1) 28 29 30 31 32 33 34 -.5 -2.4 -1.0 -10.8 -1.9 -4.1 -9.1 -20.1 -9.9 3.3 -4.3 -5.5 MARKETS TO 1 2 3 4 5 . (1.) N E T 1 1 1/7 2 IS B A S E D ON P R E L I M I N A R Y A ND INCOMPLETE INFORMATION. OF U.S. ISSUES IN F G N . NET U.S.EXPORTS U.S.EXPORTS U.S.IMPORTS T R A N S F E R R E C E I P T S FRO M U.S. C U R R E N T A C C O U N T B A L A N C E <4-1) (U.S. B A L A N C E * S I O N REVERSED) 1 2 3 4 5 18 19 20 F I N A N . S O U R C E S O F F U N O S t N E T 21 O F F I C I A L U.S. F6N. E X C H A N 22 u nallo c a t e d 34 DISCREPANCY FINANCE U.S. INVESTMENT ABROAD. 7 N O V E M B E R 19 72 M O N E T A R Y AN D I N S U R A N C E R E S E R V E S 14 M O N E T A R Y ANO I N S U R A N C E R E S E R V E S GOLD* SEASONALLY ADJUSTED ANNUAL 1968 YEAR 1969 TOTALS 1970 OFFICIAL FOREIGN EXCHANGE* TREASURY CURRENCY. ( B I L L I O N S OF D O L L A R S ) RATES AND INSURANCE SEASONALLY 1971 GOLD I I AND 1970 IV I I 1971 I OFFICIAL II FOREIGN III EXCHANGE | I IV HOLHINGS ADJUSTED 1972 II I RESERVFS ANNUAL -1.2 .4 -1.6 1.0 1.0 " -.a -1.2 .4 -1.3 -.7 —. 6 -2.2 -.7 -1.6 -.9 -1.0 • -2.6 -1.0 -1.6 -1.8 -1.0 -.8 4 -.7 .1 .3 -.1 .4 -.1 « -.2 RATES H I (1) I. 1 2 3 14‘ « # -2.2 -2.2 • • -. 1 .3 * - II . GOLD ♦ SPECIAL DRAWING RIGHTS « U.S. GOLD STOCK AND SDR'S • U.S. G O V T . ( E X . STAB. FUND) MONETARY AUTHORITIES (2) - 1 2 3 .4 4 MEMO— TOTAL u. iS. F O R E I G N WORLD GOLD EXCHANGE STOCK POSITION 5 2. 1 .3 -2.5 -1.7 -1.9 -2.5 -.7 -3.7 * -.3 .2 -.5 6 7 8 1.2 .7 .5 -.7 -.7 -.1 -2.2 -.4 -1.7 -.4 -.1 -.2 -1.9 -.2 -1.7 -1 • b -.6 -.9 .3 « .3 -.3 » -.3 « » « -.3 -.3 - 1.0 1. 0 * -.5 -1.0 .4 O F F I C I A L FGN. CURR E N C Y TREASURY FEDERAL RESERVE 9 10 LI 12 .9 -.2 -1.1 » 1.0 • -1.0 -.4 -.4 » -1 -1.4 » « » -1 . 0 -.9 .1 -1.0 -1.1 -.1 -3.4 -3.4 - « * * « -.7 -.7 - .1 .1 • NE T IMF P O S I T I O N CAPITAL SUBSCRIPTION LESS-IMF NOTES IMF d e p o s i t s AT .1 - - III. 13 14 15 .4 .2 .2 .6 .7 -.1 .3 .1 .2 .5 .5 .4 .5 -.1 .3 .3 « INSURANCE AND .6 .6 . PENSION .5 .3 .1 FUND treasury TOTAL U.S.POSITION CURRENCY AND SDR 5 HLDGS f . r 6 7 8 9 10 11 . 12 CERTIFICATES .b .5 * .7 1.1 -.4 .6 .7 -.1 .4 T O T A L U . S . G O V T . L I A B I L I T Y .5 M O N E T A R Y A U T H O R I T I E S A S S E T -.1 U N A L L O C A T E D A S S E T 13 14 15 RESERVES LIFE INSURANCE RESERVES— 1 2 3 4.5 * 4.6 4.9 .1 4.8 5.2 • 1 5.1 6.6 .1 6.6 5.6 .1 5.5 6.1 .1 6.1 6.6 .1 6.6 6.9 .1 6.8 6.9 .1 6.8 7.2 .1 7.2 7.3 .1 7.2 7.6 .1 7.5 N E T C H A N G E IN L I A B I L I T I E S U.S. G O V E R N M E N T LIFE INSURANCE COMPANIES 1 2 3 4 4.5 4.9 S.? 6.6 5.6 6.1 6.6 6.9 6.9 7.2 7.3 7.6 NET 4 5 6 7 8 9 10 15.4 1.3 14.0 2.9 6.4 4.7 15.8 l.b 14.3 2.9 6.3 5.0 19.5 ? •4 17 . 2 3.3 7. 1 6.8 20.2 2.8 17.4 3 .3 7.3 6.8 20.8 2.9 17.9 3.3 8.8 5.8 21.7 2.4 19.3 3.3 8.2 7.8 21.5 3.4 18.2 3.3 7.5 7.4 16.8 2.4 14,4 3.3 5.1 6.0 21.0 3.2 17.8 3.3 8.2 6.2 11.0 1.3 9.6 3.3 3.2 3.1 26.3 4.3 21.9 3.3 7.4 11.2 19.1 2.6 16.5 3.3 5.4 7.8 N E T C H A N G E IN L I A B I L I T I E S U.S. G O V ERNMENT INSURANCE SECTOR LIFE INSURANCE COMPANIES PRIVATE PENSION FUNOS S.* L. G O V T . R T R . F U N O S 5 6 7 8 9 10 11 15.4 lb.8 19.b 2U.2 20.8 21.7 21.5 16.8 21.0 11.0 26.3 19.1 NET 11 TOTAL I N C R E A S E IN A S S E T S (HOUSEHOLDS) PENSION INTERBANK 1 4.4 2 3 4 .9 .9 » it • ft 1.0 .8 .2 5 6 7 8 9 10 3.5 2.7 .6 1.3 .7 .1 2.7 1.2 .3 .1 .6 .2 11 - 12 13 14 15 .7 .7 » 11.9 14.0 3.6 -9.5 -18.5 37.2 -2.4 -.2 .1 -.3 1.6 2.3 -.7 -2.6 -1.5 -1.2 1.4 .4 1. 0 « 2.2 -2.2 .3 -.8 1.2 -.1 1.1 -1.3 1.1 .8 .2 .7 1.2 -.5 4.3 2.8 2.1 -.3 .9 .1 5.2 4.7 3.6 .5 .2 .4 -1.9 -1.9 -.6 -.4 -1.4 .5 14.5 9.3 7.8 -.8 2.3 -.1 12.6 6.2 -2.0 1.2 6.9 .2 3.6 2.6 .5 .6 -.1 1.6 -9.8 .8 8.2 1.0 -8.3 -.1 -18.4 -12.1 * -1.9 -10.8 .6 36.2 19.0 2.6 .7 15.9 -.2 -3.1 -1.0 -2.7 1.2 -.4 .8 .6 .1 .3 .2 1.8 -.2 * -.4 * -.5 -.6 .9 .8 .1 1.3 1.2 .1 « .1 « » * -.3 -.5 .2 « 3.3 2.5 .1 .7 6.5 6.4 .1 « 1.0 .8 .1 -10.3 -9.6 -.7 -6.3 -11.6 5.3 17.7 12.7 5.0 -1.6 2.8 -4.4 b .3 b.O RESERVES— I N C R E A S E IN A S S E T S (HOUSEHOLDS) CLAIMS -.2 2.7 FUND ASSETS MONETARY AUTHORITIES FEDERAL RESERVE FLOAT L O A N S TO M E M B E R B A N K S 1 2 3 4 COMMERCIAL BANKING— TOTAL COMMERCIAL BANKS MEMBER BANK RESERVES VAULT CASH D E P O S I T S AT F G N . B K . A G . L O A N S TO F G N . B K . A G . BANK AFFILIATES— LOANS TO A F F I L I A T E B A N K S 5 6 7 8 9 10 FGN. BANKING AGENCIES D E M . D E P O S I T S AT B A N K S T I M E D E P O S I T S AT B A N K S L O A N S TO B A N K S B A N K S IN U . S . P O S S E S S I O N S — D E P O S I T S AT B A N K S 12 13 14 15 11 16 • * .1 .1 .1 .1 .1 .1 .1 .1 .1 .1 17 4.4 2.7 5.3 5.0 -.2 11.9 14.0 3.6 -9.5 -18.5 37.2 -2.4 18 19 .6 1.3 .3 .1 2.1 -.3 3.6 .5 -.6 -.4 7.8 -.8 -2.0 1.2 .5 .6 8.2 1.0 « -1.9 2.6 .7 -2.7 1.2 MONET.AUTH.— MEM.BK.RES. — VAULT CASH 18 19 20 21 22 23 24 25 26 27 2.5 1.7 .9 • .7 • 2.3 1.5 • .6 .1 .8 * 3.5 2.5 1.0 .1 * 1.2 .1 .1 .9 .3 -.2 .3 • • • .1 .7 1.7 1.6 .2 • -.5 .2 .1 4.8 2.6 -2.6 1.8 .7 2.5 .1 .1 14.8 7.8 1.4 -.2 2.5 1.0 • » 6.4 .1 .1 .1 .8 .1 -18.7 -10.3 .3 -.4 -.7 -9.6 .1 -16.6 -6.4 -.1 • 5.3 -11.6 .1 34.0 18.3 1.1 -.5 5.0 12.7 .1 -1.0 -1.4 .7 -.6 -4.4 2.8 .1 COMME R C I A L B A N K I N G — TOTAL COMMERCIAL BANKS TO M O N E T A R Y AUTH. LOANS FROM AFFILIATES LOANS FROM FGN.BK.AG. DEM.DEP. OF F G N . BK.AG. TIME DEP.OF FGN.BK.AG. DE P . OF B K S . I N US P O S S . 20 21 22 23 24 25 26 27 28 29 .1 .7 .2 .6 .1 .9 .4 .2 .5 -1.4 -.1 2.3 .2 6.9 1.6 -.1 -.1 -8.3 .6 -10.8 -.2 15.9 .8 -.4 1 1 1/72 IS B A S E D ON P R E L I M I N A R Y AND INCOMPLETE TOTAL LIABILITIES FORFIGN BANKING AGENCIES— LOANS FROM BANKS D E P O S I T S OF B A N K S 16 17 28 29 INFORMATION. (1) (2) Line I excludes initial allocation of SDR's of $867 million in January 1970, $717 million in January 1971, and $710 million in January 1972. Transactions in SDR's are in line 2. Also excluded from the table are revaluations of foreign currency holdings, gold, SDR's, and IMF position. Treasury gold stock. 7 N O V E M B E R 19 7 2 M ONEY ANO DEPOSITS SUMMARY 13 MONEY ’ ANO DEPOSITS SUMMARY M O N E Y S U P P L Y A N O T IM E A N D S A V I N G S A C C O U N T S ( B I L L I O N S OF D OL L A R S) SEASONALLY ADJUSTED ANNUAL 1968 YEAR 1969 TOTALS 1970 RATES ° SEASONALLY 1971 I I DEMAND 1970 IV I I 1971 I OEPOSITS II II I IV I I ADJUSTED 1972 II III 2?.* 23.1 12.3 5.0 5.8 -1 .8 1.8 -.7 10 . A 6.2 -2.2 3.5 .4 2.2 2.2 4.6 19.3 18.3 7.7 3.5 3. 1 1.1 3.0 1.0 I ANNUAL RATES AND CURRENCY 16.2 15.6 12.6 1.3 .6 1.0 .2 •6 8.0 7.7 3.5 1.6 2.1 .2 .4 .3 9.3 9.1 6.1 .4 -.1 1.4 1.1 .2 15.3 15.1 8.5 4.6 .5 .7 .8 .2 15.1 13.2 5.2 1.0 2.9 2.5 1.6 1.8 20.0 21.3 15.0 4.3 -.9 2.1 .b -1.2 16.9 16.2 8.5 8.4 -.2 -.3 -.1 .6 3.2 4.3 -1.5 1.7 .9 1.6 1.7 -1.1 9 10 -1.2 14.9 .6 8.6 2.5 11 .8 3.1 18.4 4.4 19.5 -15.2 4.9 12.6 29.4 3.3 6.5 11.8 32.7 -10.7 11.7 .7 11.5 -4.1 15.2 U.S. GOVT D E POSITS N E T I N C R . IN A S S E T S 9 10 11 12 13 14 15 14.9 1.5 -1.0 .1 2.4 8.6 3.3 .5 -.1 2.8 11.8 3.1 -.4 • 3.5 IB.4 4.4 .9 .1 3.4 19.5 3.3 -.2 -.1 3.5 4.9 5.0 -.4 .2 5.2 29.4 4.8 1 .1 -.1 3.8 6.5 5.5 2.9 * 2.6 32.7 2.3 » .4 2.0 11.7 3.8 -2.5 -.8 7.2 11.5 3.7 .4 .1 3.1 15.2 -2.3 -4.4 -.2 2.3 N F T I N C R . IN B A N K I N G S Y S . L I A B MONETARY AUTHORITIES U . S. G O V T . C A S H ♦ D E P . FOREIGN DEPOSITS CURRENCY 11 1? 13 14 15 16 17 18 19 13.4 -.2 .5 13.2 5.3 » .4 4.9 R.7 2.9 .2 5.6 14.0 2.2 .1 11.7 16.2 4.6 1.9 9.7 -.2 -14.8 -1.5 16.1 24.7 11.5 .7 12.5 1.0 .4 -1.1 1.7 30.4 11.9 2.2 16.3 7.8 -8.2 .1 15.9 7.9 .3 4.4 3.1 17.6 .3 1.2 16.0 TIME 1 -1.4 33.4 54.9 82.2 OEPOSITS AND 70.3 SAVINGS 112.9 20.9 18.2 11.0 4.2 2.2 -.5 1.3 2 . ft MONEY SUPPLY DOMESTIC SECTORS 1 2 3 4 5 6 7 8 75.2 67.8 72.7 95.3 87.8 91.4 39.3 3.7 35.4 .2 37.7 -6.2 43.5 .4 46.3 10.5 35.4 .5 46.4 21.5 25.0 -.1 31.5 2.8 10.7 1.3 • .1 38.6 4.0 3.3 • .5 - 2 3 4 5 20.7 3.1 17.4 .2 -9.3 -12.5 3.0 .2 38.0 15.2 2?.4 .4 41.4 7.9 33.2 .3 44.1 13.4 30.5 .2 60.9 5.8 54.9 .2 32.8 4.0 28.7 .2 6 7 8 9 10 11 17.4 .4 3.2 -.3 .1 • -1.9 -2.4 -5.9 1.1 -.2 -.1 27.6 1.7 10.0 -1.7 .2 .2 32.7 .6 7.2 .5 .1 .2 34.8 3.2 10.4 -4.7 .1 .3 49.5 2.2 10.0 -1.3 .4 .2 23.1 4.8 1.8 2.7 .1 .2 21.9 2.5 6.0 1.8 .1 .1 36.3 -6.9 10.8 -1.0 « .1 35.3 1.8 .3 .4 -.1 .1 12 13 14 15 16 17 12.7 1.1 4.2 7.4 7.7 -.3 7.9 1.4 2.6 3.9 4.0 • 26.2 2.0 6.8 17.3 16.6 .8 52.0 3.0 12.5 36.5 36.0 .6 42.4 3.0 11.0 28.4 28.0 .4 35.4 3.0 7.4 25.0 24.9 .1 33.5 2.6 8.5 22.4 23.1 -.8 57.6 3.9 12.2 41.5 40.7 .7 41.5 3.2 9-. 1 29.2 29.4 -.1 45.1 2.9 9.0 33.1 33.2 -.1 18 30.4 6.1 60.2 100.9 65.1 57.3 70.6 92.1 73.1 83.8 111/72 IS B A S E D ON 40.8 2.9 9.9 28.1 28.0 • 44.5 73.5 PRELIMINARY AND INCOMPLETE NONFINANCIAL BUSINESS STATE AND LOCAL GOVTS. FINANCIAL SECTORS MAIL FLOAT REST OF THE WOR L D COMMERCIAL BANKING U . S. G O V T . D E P . F O R E I G N DEP. PRIVATE DOMESTIC NET INCREASE - TOTAL COMMERCIAL BANKING LIABILI7Y LARGE NEG. C.D.*S O T H E R AT C O M M E R C I A L B A N K S AT F O R E I G N B A N K I N G A G E N C I E S A C Q U I R E D BYl HOUSEHOLD CORPORATE BUSINESS STATE I LOCAL GOVTS. foreign U.S. GOVT. MUTUAL SAVINGS BANKS AT S A V I N G S I N S T I T U T I O N S CREDIT UNIONS MUTUAL SVGS. BANKS SAVINGS ♦ LOAN ASSNS. H E L D BYt H O U S E H O L D S CREDI7 UNIONS MEMO - HOUSEHOLDS TOTAL TIME ♦ SVGS, ACCOUNTS INFORMATION. Money Supply Relationship (Page 16) Part I Line 1 2 3 4 5 6 7 I 5 6 7 8 9 10 4 5-9 Line 1 of page 15. Daily averages in this table month of this quarter. 1 - 2. 5 + 6 + 7. See Part II , line 5. Part II, line 6 + Part I I I , Part II, line 7 + Part I I I , unadjusted flow. 1 2 3 4 5 6 7 8 16 17 18 19 ACCOUNTS 32.4 18.2 13.8 .5 17.0 1.7 4.4 10.9 10.9 « households "Seasonal" here means dollar excess of seasonally adjusted flow over Lines 14 + 18 + 19 of page 15 at quarterly rates. Differences between money-supply concept of demand deposits derived from last preceding all-bank total (either last Wednesday of quarter or Call Report) and figure for that one day, e.g., March 29, 1972, derived from data going into daily-average statistics. Quarterly increments in this difference. Difference between figure for period derived from daily-average data and average for last month of quarter. Quarterly increments in this difference. 8 + 9 + 10 - II. Difference in adjustment method: seasonal in daily-average series (month average) adjusted as flows less seasonal in published daily-average series. Seasonal in F/F demand deposit (based on net change from last day of one quarter to last day of next) less seasonal in daily average adjusted as flows. Adjustment to seasonal needed as part of the balancing of all seasonally adjusted sources and uses of funds in the flow-of-funds matrix. No statistical difference between the two series. In unadjusted data, only difference is between one-day figure for end of quarter and three-week average. Correspond to lines 7 through II in Part II. 1 2 3 4 5 6 7 e 9 10 11 12 13 14 15 16 17 IB 7 N OVEMBER 1972 MONEY SUPPLY HELAfIONSHIP MONEY SUPPLY RELATIONSHIP RELATION SEASONALLY AOJUSTEO ANNUAL 1968 YfcAW 1969 TOTALS 1970 3 4 5 6 7 TO DAILY AVERAGE SERIES 16 SEASONALLY RATfcS 1^71 1 | 1970 IV | | I. 1 OF F / F m o n e y S U P P L Y D A T A ( B I L L I O N S OF D O L L A R S ) 1971 I TOTAL II MONEY IV III 1 | I 1972 II II I SUPPLY 8.0 6.3 1 .8 9.3 11.1 -1.9 15.2 13.4 1 .8 15.1 8.0 7.1 20.0 19.6 .5 16.9 23.4 -6 .6 3.2 8.4 -5.2 20.9 2.4 18.5 22.4 21.2 1.2 10.8 13.4 -2.6 19.3 20.2 -.9 NET C H A N G E S AT S A A R — F/F DEMAND OEPOSITS ♦ CURR. D A I L Y A V E R A G E (OAMS) TOTAL DIFFERENCE 1 2 3 1.* -. 1 1 .5 .4 1. b -.1 1.7 .2 -1.9 •4 -4.1 1.8 .7 2.3 -1.2 1.8 .6 3.4 -2.2 .1 -.8 -2.3 3.3 -1.6 .8 1.0 -3.4 -1.3 -.2 -3.2 2.1 4.6 .9 6.8 -3.0 .3 .3 -3.9 3.9 -.7 .5 2.1 -3.3 -.2 -.1 -2.8 2.7 TOT A L DIF F . AT Q U A R T E R L Y RAT E ARISING F R O M — DATA DIFF. TIMING SEASONALS 4 5 6 7 NET CHANGE* S.A, QTRLY RA T E — F / F ( SEE P A R T IV. B E L O W ) DAMS 1 2 1 2 13.7 11.3 4 5 6 7 8 9 10 11 12 1 .3 5.2 3 .7 ‘ J.H 8.1 2.4 1.5 2.1 -.1 2.1 1.4 -.1 1.5 .3 .4 “ * .1 .1 « 1.7 1.8 » 2.9 1.3 3.7 3.9 3.3 4.7 .2 1 .2 4.7 « 3.8 4.1 1.9 2.4 4.3 4.2 -2.3 1 .9 1 .6 -.2 -1.5 -1.1 4.7 -.3 -.4 * -4.1 3.2 .7 2.5 3.2 .6 2.7 -2.6 -.8 -1.8 1.6 .8 .8 -3.0 -.2 -2.8 7.1 .9 6.3 -4.5 .3 -4.8 2.6 .5 2.1 -2.2 -.1 -2.1 -1 .2 -1.2 -.1 “ -1.6 1.9 -4.5 -.1 1.0 2.4 -2.1 5.9 .1 -1.5 -3.1 -.3 -1.5 -1.4 « 1.9 .5 .2 1.0 .3 -2.4 .7 -4.6 .3 1.1 4.1 -.8 6.1 -.6 -.5 -3.0 -.7 -1.6 -.8 “ .9 1. 1 -.2 .6 .9 -.2 .5 .6 -.1 1.8 1.2 .6 - 1 2 3 2.4 3.0 -.6 2.9 2.6 .3 3.b 3.0 .5 3.4 3.5 -.1 4 -.7 .2 .5 5 6 7 8 9 .1 .1 « » * 4> « - - - » - DEPOSITS 1 1 .9 9.9 .4 -0.5 - demand III. « “ -.2 .8 -.5 .2 -.4 .6 .1 .1 * -.6 .1 .3 « 1.0 .8 -.1 -.5 • -1.5 -.3 » -.2 -.1 * .2 .1 .4 * .3 -.6 .2 .3 * 1. 1 DERIVATION 2.2 D I F F E R E N C E IN S E A S O N A L S .6 F L O W S VS. L E V E L S .2 O N E - D A Y VS. D A I L Y AVG. 1.3 SEASONAL BALANCE ADJUSTMENT PLUS * DAY-OF-WEEK ALLOW. .1 NET 1.3 1.0 .3 - OF F/F BANK • ft 1.0 -.2 .6 .8 -.2 3.4 247.9 26.3 31.2 7.9 4.3 _ _ _ 165.0 .7 165.7 13.7 170.2 .7 171.u 5.3 .9 .1 -.7 -.2 -.2 -.5 -.1 -.5 -.3 • -.2 • - .5 .1 .4 .1 .1 CHANGE* 234.0 27.0 31.3 4.5 2.6 246.6 27.6 32.6 8.4 2.5 TIMING 4 240.6 22.4 27.5 8.7 2.7 256.9 24.2 34.3 9.1 3.3 DEMAND _ _ _ 168.4 .9 169.3 -7.4 174.8 1.0 175.7 6.4 2.6 172.9 1.4 174.3 -1.4 187.4 1.2 188.6 14.3 .9 179.7 1.1 180.8 -7.7 184.3 1. 1 185.4 4.6 3.2 187.4 .4 187.8 2.4 « * -.1 -.1 -9.9 -.1 1.0 2.9 11.1 .1 -1.5 3.6 -3.1 -1.4 « 3.3 1.5 1.0 .3 .2 -9.6 .3 1 .1 4.6 11.7 -.6 -.5 4.0 -2.7 -.8 1.9 1.9 1.3 .1 4.3 SEASONAL * S E A S O N A L B A L A N C E ADJ. ♦ DAY-OF-WEEK ALLOWANCE = NET C H A N G E SEAS. ADJ. 11 12 13 14 2 F O R E I G N D E P O S I T S AT F . R . B i TOTAL DEMAND DEPOSIT LIA B . • S.A, Q U A R T E R L Y RATE ( A S I N P A R T II A B O V E . L I N E 1) 15 _ _ ♦ T I MING ADJ. TO QUARTER END s c o m m e r c i a l -bank liability D E P O S I T S AT F G N . B A N K I N G AG. s TOTAL BANKING LIABILITY NET CHANGE 6 7 8 9 10 5.3 5.8 -.1 « .1 * .1 * » .1 -.2 * -.1 16 13.7 5.2 5.P 1 1 .9 2.9 3.7 3.3 .2 4.7 3.8 1.9 4.3 17 18 19 20 21 22 23 204.4 .7 194.5 .4 231 , . 1 1 ,,4 275.2 2.4 249.5 1.4 264.9 2.0 262.9 1.6 264.5 8.3 275.2 2.4 248.1 1. 5 249.5 16.4 256.4 1.6 « 254.8 1.5 256.3 6.7 272.8 1.7 274.5 9.9 285.6 2.4 .1 283.3 1.8 285.0 10.6 295.6 2.5 293.2 1.9 295.0 10.0 - 1 1.7 2. 36.1 1.9 34.2 111 / 72 16 DEPOSITS 3 0 6 . 4 T O T A L IN H . 0 O R C A L L 2.5 - DUE U.S. COML. BANKS 1. 1 ♦ T I M I N G T O Q U A R T E R E N D 305.0 * TOTAL DUE NONBANKS. Q-END 1 . 9 ♦ TIME D E P . A T F G N . B A N K I N G A G . 306.9 = TOTAL BANKING SECTOR LIABILI NET CHANGE 11 .8 23] ,,7 1 .,4 2 31,. 1 3«,. o 272.8 1.1 274. b 4 1.4 * * 38,. 0 * * 41.4 -.1 .3 1 1.0 -1.2 -.9 15.2 1.5 .1 8.2 -.2 .5 8.1 -.1 .4 9.8 -1.1 -1.0 9.4 1.6 .1 11.6 -.3 ♦ SEASONAL .5 ♦ S E A S O N A L B A L A N C E A D J . 11.6 a TIME D E P OSITS. SAQR 24 25 26 3^>,, 7 6 ,,5 3 3,.2 38.6 39.7 6.5 33.2 39.5 32.1 42.4 9.8 32.6 35.3 8.0 27.3 38.6 6.6 32.1 30.4 2.9 27.5 39.1 4.8 34.3 31.3 4.0 27.4 27 28 29 - 27 28 29 TIME 1 2 3 4 5 233. 1 1.4 « 231.7 1 .4 233. 1 11.1 - -9.4 DATA— 175.9 .9 1 76.8 12.8 .1 * 20.7 DEPOSITS CALL 187.4 1 .2 188.6 1 1 .8 13.6 « 6 7 8 9 GROSS DEMAND DEPOSITS - DUE TO U.S. COMML. BANKS - C A S H I T E M S (1) - TREASURY DEPOSITS - F. R. F L O A T 15 # 5 249.0 22.3 27.4 9.4 3.7 - 24 25 26 DIFFERENCE D I F F . IN S E A S O N A L S F L O W S VS. L E V E L S O N E - D A Y VS. D A I L Y AVG. S E A S O N A L B A LANCE ADJ. LESS— D A Y -OF-WEEK ALLOW. 175.9 .9 1 76.8 5.8 262.7 28.0 32.1 10.2 4.3 - 1*4. 1 1. 0 145.1 -9.3 RATE— 4.3 233.2 23.2 27.3 8.9 2.5 - 20 3 . 7 .8 204.5 20. 7 QTRLY DEPOSITS 11 12 13 14 - S.A. 247.9 26.3 33.2 7.9 4.3 » « « » 262.7 28.0 32.1 10.2 8 9 10 11 12 1 2 3 1. 241.1 23.4 38.2 5.1 5 6 7 DAMS DIFFERENCE H *8 O R 229.7 21.4 34.2 5.0 3.5 4 d i f ference D I F F E R E N C E IN U N A D J U S T E D DATA DIFFERENCE TIMING CURRENCY .9 .7 .2 IV. 6 7 8 9 10 ANNUAL RATES 1ft.2 14.3 1.8 II . 1 2 3 4 5 ADJUSTED * 40.5 2.4 38.2 IS rtAShU ON P W F L T ^ I nIAw Y 6.6 anij INCOMPLfcTE - 8.2 31.3 INFORMATION. - (1) REPORTED CASH ITEMS - INTERBANK ITEMS = AS D E D U C T E D ABOVE 17 16 19 20 21 22 23 7 NOVEMBER U.S. GOVT. 197*! sec u « , m s u>s. 8 ( m > 17 SECURITIK ( iOVEWNME NT S E C U R I T I E S M A R K E T ( M I L L I O N S OF DO L L A R S ) U.S. SUMMARY 17 .................................................. ............................... 1968 Y M « 1S69 TOTALS 1M7.) 1 J? 1 1 2 3 4 16.7 10.3 .4 9.9 b .0 -1 . 3 - .4 -.•9 21 . 0 12.9 .3 12.* 2 11 . 4 2f>.0 2 .4 2 i . (r- 5 6 7 8 6. 4 1.-5 1.7 3.2 f' . 0 - •4 -1.9 9 .i H.7 .3 -.3 n. 7 -1.1 f.9 9 10 11 12 13 14 16.7 .1 -.1 -.1 3.8 b."> -1.3 -.2 -.b .3 4.2 2 1 .6 -.1 1.7 1 .9 -.2 s-.o 15 16 17 -.5 -1.7 1 .2 -1 .8 -2.2 .4 18 13.3 19 20 21 22 7. 7 .4 4.1 3.2 .3 -10.1 2.2 23 24 25 26 4 .S .4 2.8 1.4 12.1 -.4 8.1 4.3 .3 —7 . 3 ?. 6 27 28 29 .9 .1 . '..-8 • -1.3 -1.8 -.b -2.9 -3.0 .1 30 31 3? 2.2 1.2 1.0 b .2 3 .b 1.7 -.2 .3 -.b 33 34 35 3.5 2.2 1.3 -9.4 -9.2 -.3 9.4 s. h 4.6 6.0 36 37 38 2.1 -1.9 4.0 .4 -3.7 1.7 1.0 3.0 39 40 41 .7 1.2 .4 .4 .3 -1.0 1. 3 42 -.2 -.b 43 -.6 - .b 44 .4 .2 -.2 .1 .4 .4 «• .4 45 46 47 .2 .1 .b .1 .1 1 .1 .i * .3 .2 48 49 50 -.1 -.2 .2 -.3 51 52 53 -.2 -.b .1 * 54 55 56 .4 .4 -.4 .1 .2 .3 -.3 -.b .1 1.8 57 58 59 -.2 60 61 .2 .8 .5 I I 1470 IV | | 1971 m RATES - .. 2.9 6.8 1.9 4.9 42.1 40.9 2.7 38.2 33.5 2S.6 2.4 23.1 39.0 30.6 2.6 28.0 13.0 4.3 3.2 1.1 25.2 14.8 3.4 11.4 13.9 7.7 3.1 4.6 8.4 .5 1.0 6.9 -3.9 .8 -3.6 -1.1 1.2 -.b 1.3 7.9 • .4 7.6 8.3 1.5 -.7 7 .b 8.6 2.8 -.5 6.3 10.4 1.3 .2 8.8 6.3 2.1 1.0 3.2 OTHER BUDGET AGENCY ISSUES L O A N P A R T I C I P A T I O N S (1) S P O N S O R E D AGENCY ISSUES(2) 5 6 7 8 24.9 -.5 2.9 2.8 .1 4.7 2.9 « -.8 -2.8 2.0 13.8 42.1 « -2.8 -.2 -2.6 3.0 33.5 -2.1 -2.2 .1 8.8 39.0 . -.4 -.6 .2 9.0 13.0 b.6 5.7 -.1 4.4 25.2 - 13.9 -1 -1 .'D -.1 * .6 -1.8 -1.7 -.1 5.9 -5.3 -5.1 -.1 -6.0 N E T A C Q U I S I T I O N S * BY S E C T O R U . S . G O V E R N M E N T (AGENCY SEC.) SPONSORED CREDIT AGENCIES OIRECT MARKETABLE FHLB SPECIAL ISSUE FEDERAL RESERVE SYSTEM 9 10 11 12 13 14 9.1 7•K 1.3 2f>. 3 13.9 12.4 1 7.f» 1 7.2 .4 25.0 16.1 8.9 26.6 6.2 20.4 30.0 10.4 19.6 23.6 23.1 .b 11.0 9.5 1.5 -.2 -12.7 12.6 10.2 3.4 6.9 4.6 S.8 -4.0 .3 -35.0 15.2 -3.1 6.8 -8.0 21.2 15.0 16.U - *4 9.8 (S.b -7.6 -13.1 2.4 -1 0 . b -s.O -22.2 1.7 -21.7 -2.2 -51.0 1.9 -34.1 -18.8 1.6 2.7 1.8 -2.9 -2.0 2.4 -6.1 1.6 -1.2 2.6 -3.9 .2 -20.8 3.2 -19.3 -4.6 12.5 3.4 6.2 3.0 9.9 3.1 5.4 1.4 -22. b 2.4 -19.3 -s.8 -22.b 1.7 -20.8 -3.5 -57.1 1.9 -40.7 -18.4 -13.1 2.7 -11.3 -4.b -13.1 2.4 -16.4 .9 -7.6 2.6 -9.0 -1.2 -22.7 3.2 -20,6 -5.3 5.4 3.4 -.2 2.2 -1.0 3.1 -4.0 -.1 2.7 -3.9 -3.7 -.2 -.8 -.4 -.4 4.9 4.7 .1 3.6 3.7 -.1 3.1 2.5 .5 -6,2 -6,6 ,4 2.0 1.2 .8 2.0 2.0 .8 CORPORATE NONFIN. BUSINESS DIRECT AGENCY ISSUES 27 28 29 4.2 2.7 1.4 7.0 7.0 * 9.8 8.4 1.4 7.5 6.7 .8 3.4 2.6 .8 8,2 7,8 ,3 5.1 5.2 * 8.1 7.4 .7 STATE ♦ LOCAL GOVTS. DIRECT AGENCY ISSUES 30 31 32 19.0 9.5 9.4 6.8 4.7 2.1 10.4 7.0 3.4 -3.5 -6.6 3.0 10.2 4.4 5.8 ,4 -2,5 2,9 4.2 .2 3.9 2.1 -.4 2.4 COMMERCIAL 3.6 3.1 -1.1 4.2 3.5 1.5 2.1 9.1 -3.0 12.1 3.2 1.8 1 .4 2.4 -.6 3.0 -2.3 -2.6 .3 12,3 3,0 9,3 4.5 2.2 2.4 3.0 .3 2.7 PRIVATE -.4 S.2 1.4 l.b 3.9 .8 -.5 1.2 14.2 1.7 12.5 4.0 2.5 1.5 2.5 1.5 1.0 .2 -.2 .4 9,3 1,3 8,0 2.0 .7 1.3 3.2 1.2 2.0 -.1 .1 -.1 * « .9 .3 .6 .7 -.4 1.2 -.2 .1 -.3 ,2 -.4 ,6 .4 -.2 .6 -.5 -.5 * .4 .7 .5 .3 .2 1.1 .4 .7 1.0 .4 .6 1.1 .4 .7 1.4 .4 .9 1.3 ,5 ,8 1.2 .5 .7 1.3 .6 .7 .1 -.1 .1 -.2 -.2 .1 -.2 -.3 .2 -.6 -.6 • -.1 -.1 -.1 -.4 .3 .1 « .1 ,5 ,2 ,3 -.3 -.1 -.1 -.1 -.1 -.1 .1 -.1 - .4 -.2 » -.1 .1 -.2 • -.4 -.1 -.3 -.4 -.2 -.2 -.6 -.5 -.2 -.1 -.1 « - ,4 -.4 • -.6 -.2 -.3 -.5 -.4 -.1 .2 -.1 .3 -. 3 -.3 -.5 -.5 -.1 -. 1 .4 -.6 -1.0 -.3 -.8 « * » ft » .1 1.3 1.3 • '• .2 -.1 .3 -.3 .5 -.8 -.b -.3 -.4 -.7 .3 -1.1 -1.0 -.2 -1.5 -1.3 -.3 .6 .5 .1 -1.3 -.4 -.9 -.5 -.2 -.3 -.3 -.6 .3 -.4 * -.4 .2 -.3 -1 .6 .1 3.4 .2 -4.0 -1.0 1.4 -.7 -1.0 .4 1.7 -2.8 • .7 • 1.9 -.3 * -.3 * -.2 -.5 « -4.4 -.1 -.4 .3 29.4 2.6 .1 .9 ^.2 .8 2.3 -.2 (1) (2) 111/72 is based on preliminary and incomplete information. I ANNUAL — 24.9 lb.5 1.7 14.8 .4 | — — II .6 iv ADJUSTED T 3.4 H I SEASONALLY 197? H TOTAL NET ISSUES I N C L U D E O IN P U B L I C D E B T HOUSEHOLD SAVINGS BONDS DI R E C T EXC. SAVINGS BONDS 1 2 3 4 FOREIGN SHORT-TERM MARKETABLE OTHER TOTAL PRIVATE 15 16 17 DOMESTIC IB PVT. DOMESTIC NQNF1N. SAVINGS BONDS - HOUSEHOLDS DIRECT EXC. SVGS. BONDS AGENCY ISSUES 19 20 21 22 HOUSEHOLDS SAVINGS BONOS DIRECT EXC. SVGS. BONDS AGENCY ISSUES BANKING DIRECT ISSUES AGENCY AGENCY 23 24 25 26 33 34 35 NONBANK FINANCE DIRECT ISSUES 36 37 38 S V G S . ♦ LOAN ASSNS. DIRECT AGENCY ISSUES MUTUAL AGENCY 39 40 41 SAVINGS BANKS DIRECT ISSUES 42 43 44 CREOIT UNIONS DIRECT AGENCY ISSUES 45 46 47 LIFE INSURANCE DIRECT AGENCY ISSUES 48 49 50 NONLIFE INSURANCE DIRECT AGENCY ISSUES 51 52 53 PRIVATE PENSION FUNDS DIRECT AGENCY ISSUES 54 55 56 S.♦ L.GOVT.RTR.FUNDS OIRECT AGENCY ISSUES INVESTMENT COS. (DIRECT) SEC.BRKRS.* DL«S.( •• ) 57 58 59 60 61 Where not shown separately, loan participations are included with agency issues. These issues are outside the budget and outside the U. S. Government sector in flow-of-funds accounts. They are included in credit market debt of financial institutions. Sponsored-credit issues include GNMA-guaranteed securities backed by mortgage pools. 7 NOVEM B E R 1972 PRIVATE SECURITIES ig AND MORTGAGES PRIVATE SECURITIES ANO m MORTGAGES . PRIVATE S ECURITIES ANO M O R TGAGES ( B I L L I O N S OF D O L L A R S ) SEASONALLY ADJUSTED ANNUAL RATES _________ __ ____________ ____ ____ ______________________________________ __________ YEAR TOTALS ________ ___________ 1 9 6 9 ^ ____ 1 9 7 0 1971 I I 1970 I IV | STATE ~ 1971 I n AND LOCAL 18 I n GOVERNMFNT Iv SEASONALLY | | ADJUSTED RATES SECURITIES 1 2 3 10.1 ,1 9,9 7.9 2 .b b ,4 13.8 3.8 10,0 20.2 4.6 15.6 21.5 8.4 13.1 24.S 7.8 16.7 19.6 4.2 15.4 19.2 4.6 14.6 17.7 1 15.8 16.7 4.0 12.7 14.3 - 1.2 15.5 17.6 2.9 14.7 N E T C H A N G E IN L I A B I L I T I E S O F STATE AND LOCAL G O V ERNMENTS SHORT-TERM OTHER 1 ? 3 4 5 6 7 10.1 -.2 ,5 * 7.9 7 .b -■1 . 0 .1 . 13,8 2,0 - ,6 « 20.2 4.9 1 .0 -.2 21.5 1.6 1.0 .1 24.5 5.0 1.0 -.4 19.6 4.5 1.0 -.4 19.2 7.2 1.0 .2 17.7 3.0 1.0 -.2 16.7 4.2 1.0 -.1 14.3 7.0 1.0 -.5 17.6 7.4 1.0 -.2 N E T C H A N G E IN A S S E T S HOUSEHOLDS CORPORATE BUSINESS S . ♦ L. G O V T . . G E N , F U N D S 4 5 6 7 8 9 10 11 12 13 8.6 • .2 1.0 « » .2 * • 1.2 -.1 -.2 10.7 « .1 1.5 -.3 .6 12.7 .2 .2 1.5 -.2 .1 16.4 .1 l.b -.4 1.2 17.2 .2 « 14.0 .3 .4 l.b « -1 . 6 7.6 .1 .3 1.5 -.6 1 .8 1 1.9 .2 .1 1.5 -.2 .3 10.5 .5 2.2 -.2 -1.3 4.6 .5 -.7 2.0 .1 .2 7.4 .7 .1 1.8 -.1 -.5 1.5 « -.1 CORPORATE ANO FOREIGN COMMERCIAL HANKING MUTUAL SAVINGS BANKS LIFE I N S URANCE COS. OTHER INSURANCE COS. S. * L. G O V T . * R T R . F U N D S FINANCE N.E.C. 15.0 12.9 .8 .3 1.1 14.8 12.1 l.b .1 1.0 23.7 20.3 2.5 * .9 24 . 6 19.4 3.8 .5 .9 28.6 23.8 3.7 « 1.0 30. 7 24.1 4.5 1.0 1.1 23.9 20.1 2.3 .4 1.1 20.2 14.9 4.0 .3 1.0 23.7 18 . 5 4.3 .6 .3 22.2 11.2 5.9 3.4 1.8 19.2 13.0 4.2 .4 1.7 18.2 13.5 4.5 .4 -.3 NET ISSUES CORPORATE BUSINESS FINANCE companies COMMERCIAL BANKS RFS T OF THE WOR L D 6 7 a 9 10 15.0 4.8 .2 .3 1.3 14.H 5.7 1 .B -.1 .3 23.7 12.4 -2.0 .8 1.3 24 .b 7.6 1.0 1.3 4.3 28.6 15.5 -1.5 1.2 2.1 30.7 11.2 -.6 1.5 7.7 23.9 7. 0 3.0 1.5 6.0 20.2 9.0 1.1 1.1 1.0 23.7 3.1 .3 1.1 2.5 22.2 4.1 .3 1.9 5.3 19.2 2.9 .9 1 .9 3.4 18.2 • 1.3 1.2 3.4 NET 11 12 13 14 15 8.2 3.9 .6 2.5 1.2 6.1 1.5 .b 3. 1 .B 9.7 1.5 2.1 3.9 2.3 9.6 b.l -.7 4.4 .7 9.4 1.9 2.8 2.7 1 .9 8.7 3.6 -2.2 6.1 1.2 9.6 3.9 -.4 5.4 .6 7.0 5.6 -1.9 2.6 .4 13.2 7.4 1 .9 3.3 .6 10.5 9.1 -2 .8 3.2 1.0 12.3 5.1 -.6 6.8 1.1 11.9 7.2 -.8 4.2 1 .4 1 .1 4.0 4.7 -.7 -.8 -.1 .2 10.3 5.3 4.7 4.3 * .b 9.5 2.6 6.9 6.8 « .1 14.8 1.3 13.5 li.4 » * 10.6 .7 9.9 9.6 « .3 7.2 -2 .0 9.2 9.0 « .3 18.9 2.7 16.2 15.7 .1 .4 18.9 2.0 16.9 17.0 • 7 8 9 10 11 12 13 14 15 4.0 -7.6 .3 .1 8.1 1.4 4.7 ,8 1.3 10.3 -4.1 .2 • 9.9 1.7 5.4 1.0 1.8 9.5 -2.6 .3 .1 9.7 ?.o 4.6 1.0 2.1 14.8 -5.2 .5 * 18.2 3.6 8.9 2.5 3.2 10.6 -5.8 .4 .1 13.3 2.9 6.2 1.3 2.9 7.2 ■15.0 .4 .1 17.9 4.5 9.6 1.1 2.8 18.9 -.7 ,4 .1 21.1 3.4 11.6 3.0 3.1 16 17 18 19 1.0 1.5 -.5 2.1 2.7 2.5 .2 1.6 1.3 1.1 .2 .7 .b .4 » .9 .6 1.6 - 1.0 2.0 3.5 2.0 1.5 .3 -2.0 .6 -2.5 « 1 27.* 27.0 2 .2 * 3 i - 26.4 ft -* ??:T m 1 t! ‘i* ff:i s -8 12 2 l:t 2 Iio ? 2 #2 13 :i 1.1 •* .7 4 .5 2.2 ? 31.7 n '* 'I? fl ^6.7 21 * 2 i .3 *•: 3 }*7 u i 3 p ‘! *•: c * #3 4 t * * . a * v \ 1 24 * I'.l .1 ^ 3 1 25 26 .4 * .6 * la * 27 *6 .3 ,1 4 *° 1,3 1 1 1 / 7 2 IS B A S E D O N P R E L I M I N A R Y ill i f .*3 .1 * 2| * 5 , , 49.* IS 17 N.E.C. THE W ORLD * 18.9 * .4 -.1 16.9 3.2 6.9 2.9 3.8 14.0 -5.2 .7 -.1 16.9 3.5 7.5 2.9 3.1 7.9 -8.8 ,7 .3 16.3 4.2 7.7 2.3 2.1 17,9 .8 .8 12.0 NET -7.3 .5 19.3 4.2 8.6 2.7 3.8 -3.6 - 1.8 - 1.8 .7 56.8 55.4 -3.5 -2.4 - 1.1 2.8 ------— 54.5 _ . 17.9 4.3 7.0 2.8 3.8 7 9 9 10 u 12 13 14 15 -1.0 -1,2 ,2 1.8 FINANCE N.E.C, OPEN- E N D INVESTMENT COS, BROKERS ANO DEALERS REST OF THE W O R L D l6 17 IB 19 67.7 72.3 TOTAL •• n.l ,::S ,i;7 & 6 ‘f 5 5 -* 54- 5 6 7 *7 *•« # * * 'I 6,9 7 *7 6 «9 * “ *2 7.4 t j -! ‘S * e 3 *9 5 «° ;J a ’ ‘3 *5 2m 1,0 ’ *9 1,0 «5 3.7 1.8 ”9,8 *9 j 7 , o A,f ~ 2 *7 ~*7 ” 1 *8 INFORMATION FUNDS *.i 5 .6 ^ : Tr * >>3.7 PVT. 5.8 ADVANCED S3 FINANCIAL MUT. •! .1 •» L *F E ~*6 B Y - 5.8 U \i INST. SAVINGS BANKS CREDIT UNIONS 13 u 15 i: 16 20 INSURANCE COMPANIES P V T * P^ S I O N FUNDS S T .*L0C. GOVT. RET.FDS. * I c 0 R P 0 , , * Tf: households OTHER * * ST,♦LOC, GO VT S. .G EN FDS, .8 U.S. G O VE RN ME NT SPONSOREO CREDIT A G . ( 1 )(2) }•* “ *5 " I#? * ^ 72.3 5.7 - 1•! 1 1.1 ,•;» S:! Sij ~,'l 1,0 * l l\:iSECT0RS *»•<> * 3 ‘? 5 1 CREOIT BY — ^^ *5 =53*™"’ il:l -i 4 MORTGAGE i:? “:S nil 1 2 3 4 5 6 PURCHASES HOUSEHOLDS MUTUAL SAVINGS BANKS COMMERCIAL BANKING INSURANCE SECTOR LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS OTHER INSURANCE COMPANIES S . * L. G O V T . R T R , F U N D S BORROWED -:I * INCOMPLETE FINANCE REST OF MET ISSUES O P E N - E N D I N V ESTMENT COS. OTHER SECTORS CORPORATE BUSINESS COMMERCIAL BANKS REST OF THE WOR L D , * AND n 12 13 14 15 12.0 .5 11.5 11.6 .2 -.3 - 3,9 [4 INSURANCE LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS S . ♦ L.GOVT. RTR. FUNDS OTHER INSURANCE COMPANIES 17.9 2.0 15.9 16.2 « -.3 ' 2)0 & 7 R 9 10 7.9 -2.7 10.5 10.5 .2 -.2 T i «:7 * 2^5 -'■> PURCHASES 14.0 2.5 11.5 12.1 .1 -.6 .7 -.5 1.7 -2.4 -.9 1.9 .9 2.2 ---- --- -------MORTGAGES i u 7i2 ll ' l * 3*.5 u i 2 5:3 2 l!:1 1:5 !:J ?:i 17 1 ? -•« 10 14 15 4S.9 STATE AND LOCAL G O V ERNMENTS COMMERCIAL BANKING MUTUAL SAVINGS BANKS EQUITIES 1 2 3 4 5 6 TOTAL 1 ? 3 4 5 HOUSEHOLDS 16 CORPORATE 8 9 10 H 1? 13 RONOS 1 2 3 4 5 « ANNUAL 197? INSURANCE FINANCE N.E.C “ 6 »° »6 1.9 ( l ) M EM O: F H L B L O A N S TO S&L ASSNS. ( I N C L U O E D IN " O T H E R L O A N S " C A T E G O R Y ) (2) IN CLUDES M O R T G A G E POOLS BA CK IN G r.NMA-HTIAR AMTITim DACc.Tunrarpu coo. 23 24 25 26 27 20 7 N O V E M B E R 197 2 M O R T G A G E S . BY T Y P E MOWTGAGES. BY TYPE 1 2 3 4 5 6 M O R T G A G E M A R K E T S PY TY PE OF M O W T G A G E ( B I L L I O N S OF D O LL A R S) SEASONALLY ADJUSTED ANNUAL 1968 YEAR 1969 TOTALS 1970 RATES SEASONALLY 1971 1 1 1970 IV 1 I 1971 I HOME II IV III 1 I I ADJUSTED 197? II III ANNUAL RATES MORTGAGES 1 2 3 4 5 6 15.3 14.9 .1 .1 -.1 .2 15.6 16.2 -.3 -.3 -.1 * 13.4 12.5 .2 .2 -.1 .6 28.0 24.5 .8 .8 -.1 2.0 16.1 12.9 .6 .6 « 2.1 17.2 13.9 .7 .7 -.1 1 .8 28.9 23.4 1.0 1.0 -.1 3.7 33.7 29.1 1.5 1.5 -.1 1.7 32.2 31.7 -.1 -.1 « .8 30.3 27.5 1.4 1.4 -.1 .2 40.0 37.0 .5 .5 -.1 2.0 43.5 41.8 .2 .2 -.1 1.5 N E T C H A N G E IN L I A B I L I T I E S HOUSEHOLDS NONFARM NONCORP. BUSINESS corporate BUSINESS U.S. G OVERNMENT SAV I N G S AND LO A N ASSNS. 7 8 9 10 11 15.3 .7 .1 .H 1.6 15.6 13.4 .5 « -.1 5.1 28.0 .2 » -.3 4.a 16.1 .2 « -.3 3.7 17.2 -.3 » -.6 1.3 28.9 -. 1 « « 5.6 33.7 .2 30.3 -1.9 * -.3 5.0 40.0 -.9 « -.6 5.5 43.5 -1.0 • -.2 6.7 32.2 .8 ft -.4 5.5 net * .1 3.9 12 13 14 15 16 3.5 8.7 7.2 1.4 * 3.0 9.1 7.7 1.4 * .9 8.2 7.? .9 .1 5.7 19.3 18.0 1.2 .1 1.0 12.8 11 .5 1.3 .1 3.4 13.9 13.0 .9 .1 5.9 19.5 18. * 1.0 « 6.8 2?. 6 21.3 1.2 ft 6.6 21.2 19.4 1.8 .1 7.5 20.9 18.7 2.2 .1 8.4 28.5 25.4 3.0 .1 17 18 19 20 -.7 -.7 « .6 -.9 -1.1 .1 »i -1.2 -1.3 .1 .1 -2.7 -?.l -.6 1.1 -1.3 -1.4 .1 « -2.4 -1.9 -.6 1.7 -2.9 -2.1 -.8 1. 0 -? .9 -2. 2 -.7 .5 -2.5 -2.1 -.4 1. 0 -4.5 -3.3 -1.2 3.7 MULTI-FAMILY RESIDENTIAL change IN A S S E T S HOUSEHOLDS STATE AND LOCAL GOVERNMENTS U.S. g o v e r n m f n t SPONSORED CREDIT AGENCIES (1) 7 A 9 10 11 7.6 30.9 27.6 3.2 .1 COMMERCIAL BANKING SAVINGS INSTITUTIONS SA V I N G S AND LOAN ASSNS. MUTUAL SAVINGS BANKS CREDIT UNIONS 12 13 14 15 16 -2.7 -2.3 -.4 1.8 -2.4 -1.8 -.6 5.8 insurance 17 IB 19 20 -.2 3.0 LIFE INSURANCE COMPANIES PRIVATE PENSION FUNOS F I N A N C E N . E . C . (MTG. COS.) MORTGAGES I 2 3 3.5 .8 2.7 4.8 1 .2 3.6 5.9 1.5 4.3 8.H 2.6 6.2 6.8 1.7 5.0 7.4 2.3 5.2 9.8 3.0 6.8 8.8 2.8 6.0 9.3 2.6 6.7 8.7 2.7 6.0 9.9 3.1 6.8 10.6 3.1 7.5 4 5 6 7 8 3.5 -.2 .3 « .3 4.6 -.1 .7 • .5 5.9 -.2 .5 .3 .1 h .a 1.2 .4 .8 .7 6.8 .1 .5 .3 • 7.4 .7 .6 .5 .7 9.8 ft .4 .6 8.8 3.5 .3 .9 .7 9.3 .5 .2 1.3 .5 8.7 2.4 .4 1.2 1.6 9.9 -.3 .3 1.0 2.4 1 0 . 6 N E T C H A N G E IN A S S E T S .7 HOUSEHOLDS .9 U.S. GOVERN M E N T 1.4 FEO. NAT. MTG. ASSN. 2.8 COMMERCIAL BANKS 9 10 11 1.6 1.1 .5 1.7 1 .* . .5 2.4 ?.l .4 4.8 3.0 1 .8 3.3 3.0 .3 4.3 2.7 1.6 6.9 4.6 2.2 3.4 2.2 1.3 4.6 2.6 2.0 4.6 3.5 1.0 5.0 3.9 1.1 4.6 3.4 1.1 12 13 1.0 .4 1.4 .6 1.9 .8 .7 .3 2.2 .4 .6 .1 .8 .3 .9 -.9 .5 1.6 « -1.4 .5 1.0 .2 commercial NET B O R R O W I N G CORPORATE BUSINESS NONFARM NONCORP. BUSINESS 1 2 3 4 5 6 7 8 SAVINGS INSTITUTIONS S A VINGS ANO LOAN ASSNS. MUTUAL SAVINGS BANKS 9 10 11 LIF E INSUR A N C E COS. S.♦ L.GOVT. P E N S .FUNOS 12 13 MOWTGAGES 1 2 3 4 6.6 1.1 4.9 .5 5.5 1.3 3.B .4 5.4 1.4 3.6 .4 10.1 1.4 7.8 .9 6.8 1.4 4.8 .5 7.7 1.4 5.6 .6 9.4 1.4 7.2 .8 11.5 1.5 9.0 1.0 11.7 1.5 9.2 1. 0 12.9 1.5 10.3 1.1 14.9 1.5 12.0 1.3 15.3 1.5 12.4 1.4 NET BO R R O W I N G HOUSEHOLDS CORPORATE BUSINESS NONFARM NONCORP. BUSINESS 1 2 3 4 5 6 7 8 6.*> .2 ~ 2.6 5.5 .7 * 1.6 5.* .9 « 1.2 10.1 .2 » 3.0 6.8 .8 • 1.8 7.7 .5 * 1.9 9.t .5 • 3.4 11.5 .1 • 3.6 11.7 -.2 • 3.2 12.9 .7 4.9 14.9 1.4 5.6 15.3 1.9 • 5.4 net 5 6 7 8 9 10 11 1.9 1.0 .8 1.4 .6 .8 1.5 1.0 .6 4.1 3.1 1.0 2.9 2.0 .9 3.0 2.5 .5 3.5 2.9 .6 5.0 3.4 1.5 5.0 3.7 1.4 4.4 3.2 1.2 5.2 3.6 1.6 5.1 3.6 1.4 SAVINGS INSTITUTIONS SAVINGS ANO LOAN ASSNS. MUTUAL SAVINGS BANKS 9 10 11 12 13 1.9 • 1.8 » 1.8 * 2.7 .1 1 .2 » 2.3 • 2.0 • 2.8 .1 3.5 .1 2.9 .1 2.7 .1 2.9 .1 LIFE INSURANCE COMPANIES OTHER INSURANCE COMPANIES 1? 13 FARM 1 2.1 ]L . 9 1.8 2.0 2.1 2.2 1.3 2.2 2.3 2.6 2.9 2.8 1.0 • .5 .3 * .2 ]1.2 • .6 .3 » ft 1.1 • .5 .3 • -.1 .9 * .7 .6 -.1 • .8 .1 .6 .7 .1 • 1.5 • .5 .5 • -.2 .1 • .7 .6 ft -.1 .8 » .8 .7 -.1 1.0 * .9 .5 -.1 .1 1. 1 .3 .8 .4 -.1 1.6 -.3 .9 .6 * .1 .5 .1 1.3 .8 • .1 ON PRELIMINARY and IS BASED INCOMPLETE in assets MORTGAGES 2 3 4 5 6 7 [11/72 change HOUSEHOLDS U.S. GOVERNMENT COMMERCIAL BANKS ft NET NET BORROWING BY FARMS C H A N G E IN A S S E T S — households U.S. g o v e r n m e n t FED. L A N D B ANKS COMMERCIAL BANKS MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES 1 2 3 4 5 6 7 INFORMATION. (I) Includes mortgage pools backing GNMA-guaranteed securities. See preceding page. 7 NOVEMHFP c o n s u m e 1972 CREDIT A W HAN* loans N.f.c. CONSUMER CU'JSUMtrf C ^ F D I T AND HANK LOANS MILLIONS OF NOT ELSEWHERE 196m TOTALS lgb 9 N f O 1^71 I 1970 | I- IV I 1971 I II CONSUMER "" H I ANO iANK LOANS N.C.C. 20 DOLLARS) ................................................................ .......... YEAH CREOIT CLASSIFIFD ~\ IV | SEASONALLY 197? I II ADJUSTED ' ANNUAL RATES " H I CREOIT 1 11 .1 9.3 4.3 l«l.4 .4 4.0 9.0 12.6 14.5 13.9 17.5 IB.6 2 3 9.0 2. 1 8.3 1.0 3.0 1.3 -1.4 2.1 - 1.5 1.8 2.7 1 .3 6.7 2.3 10.3 2.2 12.4 2.2 11.9 2.1 15.5 2.1 15.6 3.0 4 5 6 7 8 9 10 11.1 w.O .1 .9 4.3 1 .4 2.4 9.3 8.3 .1 .7 3.4 1.5 2.6 4.3 i.O .1 .8 1 .6 1 .1 -.f, 1 (> .4 '< . 4 .1 1.2 4. 1 1 .9 1 .0 .4 -1 .5 .1 .5 -.1 .7 -2.6 4.0 2.7 » .8 1.3 1.5 -.8 <».0 6.7 .1 1.0 3.3 2.0 .3 12.6 10.3 .2 1.3 5.1 2.1 1.6 14.5 12.4 .2 1.2 6.2 2.0 2.7 13.9 11.9 .1 2.0 4.6 2.3 2.8 17.5 15.5 .1 1,2 8.0 2.2 4.0 18.6 15.6 .1 1.9 8.5 1.8 3.3 N E T C H A N G E IN A S S E T S INSTALMENT CREDIT NONFARM NONCORP. BUSINESS CORPORATE BUSINESS COMMERCIAL BANKING SAVINGS INSTITUTIONS 1.0 .D .6 -.1 * 1.3 . •* .6 .r .1 2.1 .4 .8 .7 .1 1.8 .6 .7 .4 .1 1.3 « .7 .5 .1 2.3 ■5 .9 .7 .2 2.2 .7 .5 .9 .1 2.2 .7 .6 .7 .1 2.1 .3 .6 1.0 .2 2.1 .7 .4 1.0 .1 3.0 .7 .9 1.3 .1 NONINSTALMENT CREDIT NONFARM NONCORP. BUSINESS CORPORATE BUSINESS 50.8 48.1 TOTAL 58.1 2,1 .6 .8 • .6 .1 11 12 13 14 15 LOANS hank 1 27.9 27.1 2 3 4 5 6 7 8 9 6.7 4.9 1.3 -1 . 1 16.2 lb.2 b.4 3.3 -1.1 10 11 12 13 14 15 16 17 16.2 3.1 .4 1.3 9.3 .1 2.3 -.2 3U .6 12.1 NOT ELSEWHERE 5.5 16.9 28.5 19.0 19.0 -v.9 4.8 •8 .8 _ . l4.<+ 14.4 3.5 .3 4.0 .4 -2.7 — -2.7 6.5 1.8 -1.3 .9 9.0 9.0 10.6 4.0 -.7 —. 2 14.8 14.8 1 9. 0 2.8 .6 2.0 12.1 .1 2.1 -.6 4.4 1 .5 .8 .4 2.3 -. 1 -.5 * 1 4,<f 3.9 1.3 I .8 3.3 .T .r 2.7 -2.7 2,2 .3 .5 -2.5 .5 -3.0 -.7 9.0 2.3 .4 1.4 -1.3 -.7 7.2 -.4 14.8 4.6 1.4 1.9 2.8 l.r -.3 2.7 39.9 36.9 ANNUAL 1968 YEAR 1969 TOTALS 1970 1u 7 1 finance 1 1 11 1? 13 14 15 II 1 21.6 _ 21.6 14.3 5.6 4,5 .2 26,2 26.2 16.9 9.0 6.5 -1.3 17.1 17.1 21.6 2.5 2.1 1.6 11.4 .4 -2.4 5.9 12.1 6.2 1.4 2.2 .4 1.3 -1.7 2.3 26.2 6.3 1.1 2.7 9.4 -1.3 7.4 .6 17.1 3.3 1.6 2.1 8.0 1.7 -2.4 2.8 29.4 6.0 1. 1 .4 12.4 .6 6.6 2.3 1971 I 4 5 6 7 B 9 10 BANK L O A N S AT COM M E R C I A L BANKS. F/F BASIS TO S O U R C E N E T C H A N G E IN L I A B I L I T I E S HOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUSINESS CORPORATE BUSINESS SVGS.* LOAN ASSNS. FINANCE COMPANIES R E S T OF THE W O R L O III IV 1 1 I 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 DATA SEASONALLY 1970 IV banking INSTITUTIONS 10.8 6.9 3.H 3.3 12.1 12.1 11.8 6.1 1.3 -.8 RATES 1 1 companies commercial SAVINGS 1 2 3 L E S S ? L O A N S IN O T H E R C A T E G O R I E S 16.5 MORTGAGES 9.8 CONSUMER CREDIT 3.5 SECURITY CREDIT -1 .2 COMMERCIAL PAPER HYPOTHECATED DEPOSITS 29.4 EQUALS: BANK LOANS N.E.C. PLUSt L O A N S BY F.R. BANKS 29.4 EQUALS: TOTAL BANK LOANS N.E.C R E L A T I O N OF F/F B A N K C R E O I T (BILLIONS OF DOLLARS) AUJUSTtU C H A N G E IN L I A B I L I T I E S (HOUSEHOLDS) INSTALMENT CREDIT NONINSTALMENT CREDIT CLASSIFIFD 2.5 1.9 1.4 ?. 0 4.4 4.4 SEASONALLY NET 1972 II AOJUSTEO ANNUAL RATES II I 1 2 3 401.3 6.1 395.2 4 2 1 .6 9.5 412.1 4 6 1 .? 14.4 446.8 bl * .b 18.7 49^.9 461.2 14.4 446.8 463.5 15.8 447.7 480.5 15.8 464.7 489.6 17.6 472.0 516.6 18.7 497.9 522.8 21.3 501.5 542.7 21.1 521.6 4 5 6 7 8 9 10 11 12 64.5 5.9 4.4 1 .4 78. 1 3.4 * 3.5 54. 7 6.9 3.0 2.0 66 .D -9.5 .1 -9.3 61.7 11.1 2.3 1.0 7 6. 1 9.5 « 9.5 6 4 .9 lb.4 2.5 .1 82.9 b.l * 6.2 61.7 11.1 2.3 — 1.0 76.1 8.8 -4.1 4.7 61.6 12.0 2.0 .1 75.7 -.4 2.1 1.7 60.3 13.0 2.6 .6 76 .4 » 2.7 2.8 58.7 13.9 2.5 .6 .4 76.2 -.3 -.6 -.9 64.9 15.4 2.5 .1 82.9 6.8 -4.2 2.6 62.5 16.2 . 2.4 .9 -.4 81.6 -1.3 1.2 -.1 60.3 17.1 2.5 -.7 79.2 -2.4 3.5 1.1 13 14 15 16 17 18 19 20 21 71 .S 5.9 4.4 1.9 .9 58.6 8.6 8.6 71.3 6.9 3.0 1.9 .4 bW.2 .2 .2 86.1 1 1 .1 2.3 2.7 .«+ 69.6 10.5 in. 5 104.7 lb.4 2.5 :■ >.9 .4 82.4 12 .d 12.8 86.1 11.1 2.3 2.7 .4 69.6 3.9 -.1 3.9 91.5 12.0 2.0 3.0 .4 74.1 4.5 » 4.5 97.4 13.0 2.6 3.4 .4 78.0 3.9 -.4 3.5 99.9 13.9 2.5 3.7 .4 79.4 1.4 .5 1.9 104.7 15.4 2.5 3.9 .4 82.4 3.0 -.1 3.0 108,5 16.2 2.4 4.4 ,4 85.0 2.6 « 2.6 111.5 17.1 2.5 4.9 .4 86.6 1.6 -.5 1.1 113.7 OTHER INVESTMENTS 17.8 - N ONGUAR, u s g a g e n c y ISSUES 2.4 - L O A N P A R T I C I P A T I O N CTFS. 5.2 - C O R P O R A T E BONDS .4 - C O R P O R A T E S T O C K S 87.9 s STA T E ♦ L OCAL O B L I G . . F/F NET CHANGE 1.3 .5 ♦ SEASONAL 1 . 6 * NET CHG. SEAS ADJ. Q.R. 13 14 15 16 17 18 19 20 21 22 23 24 265.3 6.1 259.2 29b. b 9.5 28*. i 313.3 14.4 29<).0 346 . 9 1 7 3 2^.3 313.3 14.4 299.0 310.4 15.8 294.6 322.9 15.8 307.1 3 3 1 .0 17.6 313.4 346.9 18.7 328.3 351,8 21.3 330.5 370.9 21.1 349.8 381.7 21.1 360.6 LOANS - INTERBANK LOANS = LOANS NET. L.4.3. 22 23 24 1 .8 3.3 1.8 1.5 1.9 2.9 3.3 _ _ _ _ _ _ 2.9 .1 330.6 3.1 349.8 3.2 -.2 360.4 2.4 10.1 12.5 19.1 -7.0 12.1 10.6 3.5 14.0 ♦ L O A N S TO F O R E I G N B A N K S ♦ TI M I N G AOJ. TO Q U ARTER END ♦ V A L U A T I O N ADJ. TO GROSS * TOTAL LOANS. F/F BASIS CLASSIFICATION SHIFT NET CHANGE ♦ SEASONAL = NET CHG. SEAS ADJ. Q.R. 25 1.8 1.6 27 28 5.2 264.4 _ 26b. i 2 99.0 32H.3 299.0 294.6 307.1 313.4 328.3 29 30 31 2 7. 5 -.1 27.5 21.6 -.2 21.4 12.9 « 12.9 3 11 . U -.1 2^.9 9.5 -6.3 3.2 -4.4 8.9 4.5 13.2 —6 . 6 6 .b 6.3 3.6 9.9 14.9 -6.0 8.9 - 555.8 21.1 534.6 T OTAL BANK CREDIT. J.4 OR CALL - INTERBANK LOANS = TOTAL BANK CREDIT. L.4.3 6 0 . 3 U ,S. G O V E R N M E N T S E C U R I T I E S 17.8 ♦ N O N G U A R A N T E E D AGENCY ISSUES 2.4 ♦ L O A N P A R T I C I P A T I O N CTFS. -.1 ♦ T I M I N G AOJ . TO Q U A R T E R E N D -.7 ♦ V A L U A T I O N ADJ. TO PAR 79.7 3 U.S. GOVT. SECURITIES. F/F .5 NET CHANGE -.1 ♦ SEASONAL .4 = N E T C H G . S E A S A O J . Q . R . BASIS NOTE--SOURCE DATA SHOWN HERE INCLUDE CCC AND EXPORT-IMPORT ANK L O A N P A R T I C I P A T I O N S IN O T H E R I N V E S T M E N T S F O R A L L P E R I O D S . P U B L I S H E D D A T A I N C L U D E T H E M IN L O A N S B E F O R E 1 1 / 6 6 , II I/ 7 2 IS B A S E D 0 vi TM Iw A Y anij T NC.OMPLfc.TE I N F O R M A T I O N . 1 2 3 4 5 6 7 8 9 10 11 12 25 26 27 28 29 30 31 7 NOVEMB E R 1972 BAMK^CWEniT RELATIONSHIP BANK CREDIT RELATIONSHIP 21 RELATION SEASONALLY ADJUSTED ANNUAL 1968 YEAH 1469 TOTALS I P 70 I 2 3 39.8 38.6 4 5 1p 7 1 -.1 49.8 •3 1.2 .7 .7 -.2 -1.0 6 7 e 9 .5 .5 « • .1 •1 .1 - .1 10 11 12 3.5 1.7 1.8 -9.3 -9.5 13 1..5 14 15 16 17 .3 .3 • ” 18 19 20 8.9 10.0 -1.1 -.2 21 -1.2 .3 22 23 24 .1 .1 “ • • 25 26 27 27.5 26.9 .6 28 .5 .1 .7 -.5 • • HANK C R E D I T TO L . 4 . 3 S E A S O N A L L Y ( B I L L I O N S OF DO LL A R S ) 21 ADJUSTED SEASONALLY H . 7 3 }.H 29 39 31 32 33 F/F PAIR'S 12.2 11 . b .7 1.2 OF 1 19 70 | 1 IV 1 1971 I II 1 I IV III AOJUSTEO ANNUAL RATES 1972 I II h i TOTAL BANK CREDIT F/F L.4.3 DIFFERENCE SAAR— 4H.4 4 b .4 2.0 44.4 54.4 -10.0 52.8 46.4 6.4 44.5 45.2 -.7 58.7 53.2 5.5 61,8 59.3 77.2 -15.4 50.0 9.3 66.2 71.2 -5.0 -.9 .5 .4 -2.5 -.8 1.6 .5 -.2 .4 1.4 -1.0 -3.9 .5 2.3 -1.3 -1.3 -.4 1.2 1.3 * -.1 .1 « -.7 •n -1.7 .2 -1.0 -.9 1.1 1.4 -.6 .3 -.6 .1 -.1 2.0 -.6 2.3 1.7 -.4 1 .1 -4.4 -2.1 -1.3 -1.0 3.6 3.4 -.1 .3 -.9 -2.6 2.3 -.6 9.5 6.5 6.2 2.7 3.0 3.5 4.7 1.2 3.5 1.7 3.1 -1.4 2.8 1.7 1 .1 -.9 -2.9 2.0 2.6 .8 1 .8 -.1 1.6 -1.7 1 .1 .9 .2 .4 -1.2 1 .6 .3 2.5 2.9 2.0 -.3 1.4 1.3 .6 1 .1 -.2 .5 -.1 -.3 .1 - .5 .5 « .5 .5 * .7 1.5 -.4 -.4 -1.1 -.2 -.3 -.6 -.3 -1.3 -.1 1 .1 .7 .2 .0 -.2 1.2 1.9 -.4 -.3 -2.8 -.8 -1.3 -.7 .4 -1.5 .7 1.3 1. 1 .3 1.2 -.3 1 1.3 14.7 -3.4 14.1 17.9 -3.8 4.2 6.7 -2.5 4.8 6.0 -1.2 3.9 4.0 -.1 2.1 2.9 -.0 3.2 5.0 -1.8 3.1 4.4 -1.3 1.6 1.7 -.1 2.1 2.7 -.6 OTHER SECURITIES — F/F. SAQR L.4.3* SAQR TOTAL DIFFERENCE 18 19 20 -3.5 -3.8 -2.4 -.6 -.9 -.0 -1.5 -.7 -1.0 -.6 DEFINITION 21 .1 .1 “ * • -.6 -.4 -.2 .8 1.0 -.3 .1 .3 -.2 -.2 -1.0 .7 -.6 -.3 -.3 .9 1.2 -.3 • SEASONALS “ -.2 -.8 .7 .2 -.2 22 23 24 I?.9 12.6 .3 29.9 29.3 .6 3.2 3.6 -.4 4.5 4.5 • 6.6 5.9 .7 9.9 11.3 -1.4 8.9 7.6 1.3 12.5 13.2 -.7 12.1 9.9 2.2 14.0 16.3 -2.3 - - .Q .9 bv . 1 .J - " 21.4 21.2 .2 - - - - .2 .5 -.1 • .3 .5 -.2 .1 -.1 .6 .4 .3 • -.1 -.4 -.3 -.2 -.4 .5 -.1 • -.7 - •1 .7 1.6 .1 -.5 -.5 -2.0 - - -1.4 -2.5 1.3 .7 .1 -.1 -.2 -.9 -.9 2.3 2.0 .9 -.7 • •6 -2.0 -3.1 .1 1.1 -.1 • • • 1.2 -.2 -.1 .7 .1 * D I F F E R E N C E AT Q U A R T E R L Y DEFINITION ♦ TIMING SEASONALS METHOD BALANCE OTHER 1 2 3 Rate ADJUSTMENT U.S. GOVT. S ECURITIES — F/F» SAQR L.4.3* SAQR TOTAL DIFFERENCE* SAQR DEFINITION ♦ TIMING SEASONALS method BALANCE OTHER ADJUSTMENT method OTHER TOTAL LOANS — F/F. SAQR L.4.3* SAQR TOTAL DIFFERENCE DEFINITION ♦ TIMING SEASONALS METHOO - 1 METHOD - 2 BALANCE ADJUSTMENT OTHER N OT E — SOURCE DATA SHOWN HERE INCLUDE CCC AND EXPORT-IMPORT B A N K L O A N P A R T I C I P A T I O N S IN O T H E R I N V E S T M E N T S F O R A L L P E R I O D S . P U B L I S H E D D A T A I N C L U D E T H E M IN L O A N S B E F O R E 1 1 / 6 6 . 111/72 IS B A S E D ON PRELIMINARY AND INCOMPLETE INFORMATION. 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 A-23. Both the Flow of Funds and L .4 .3 data in this table exclude credit on nonconsolidated affiliates. Line 7, 15, 23 8, 16, 31 9 17, 24, 33 30 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. Sum of lines 17, 24, and 33. Difference in seasonal between F/F bank credit components and the corresponding L . 4 . 3 components adjusted as flows. Line 35 is the sum of differences for several loan types. Sum of seasonals for F/F loans by type less sum of seasonals for L . 4 . 3 loans by type. Sum of seasonals for L . 4 . 3 loans by type less seasonal on total loans in L . 4 . 3 adjusted directly. 4 5 6 7 8 9 10 11 12 13 14 15 16 17 25 26 27 28 29 30 31 32 33 7 NO V E M B E R 1972 OTHER LOANS OTHER' L O A M S 22 O P E N - M A R K E T P A P E R AN D O T H F R L O A N S (B I L L I O N S OF D O L L A R S ) SEASONALLY ADJUSTED 1968 YEAR 1969 ANNUAI PATES TOTALS 1970 » SEASONALLY 1971 1 | 1970 IV | 1 OTHER 1971 I II LOANS — SECTOR 1 1 IV III I ADJUSTED 197? II I II ANNUAL 22 RATES TOTALS 1 2 3 4 5 6 7 8 9 10 11 12.5 1,7 .2 1.1 3.6 .3 .2 .9 2.5 2.1 28.1 3.0 .6 l. B 7.0 .7 -.3 4.2 4.0 4.7 2.4 11.0 ?.h .6 1 .2 5.2 .1 -1.9 1. 3 -.2 ?. 1 3.3 1.3 .7 •B 1 .2 .4 -.4 -2.7 -.2 2.1 5.1 1.7 .9 .8 6.0 .2 -8.9 -.7 .1 4.4 2.6 1. 7 .9 2.5 5.1 .4 .3 -2.6 -1.8 -7.0 3.2 -6.5 1.2 .9 1.1 -1.2 -.3 -.1 .2 -9.8 -1.0 2.5 7.8 1.2 .5 .4 .8 1.0 -.2 .7 .9 1.5 1.1 9.1 1.3 .6 -.9 .2 .4 « .3 * 5.7 1.6 3.0 1.4 .3 .6 6.1 1.1 .8 -6.0 -3.3 2.1 5.8 1 .5 .4 .1 4.7 .4 -.8 .6 1.5 -2.6 1.1 1.3 .1 .8 -3.2 .4 1.6 1.9 -l.l -.8 NET INCPEASE in L I A B I L I T I E S HOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUSINESS CORPORATE BUSINESS STATE AND LOCAL GOVERNMENTS SPONSORED C«.AGENCIES BANK AFFILI A T E S SAVINGS INSTITUTIONS FINANCE N.E.C. R E S T OF THE W O R L D 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 12.5 2.0 2.5 3.7 1.2 -.1 -1.1 • 1.2 2.5 .6 28.1 5.9 2.7 3.5 4.8 • .5 .3 3.4 6.0 1.0 11.0 -1.8 .6 2.6 2.3 « 2.0 •2 3.0 1.7 .5 3.3 -3.9 1 .8 3.2 -2.0 .2 .8 .3 1.6 1.4 -.2 5.1 1.6 -1.9 2.0 .5 - .1 .4 -.2 1.9 -2.1 2.9 2.6 -7.7 1.4 5.0 -.6 .3 .9 1.1 3.3 -.7 -.4 -6.5 -4.1 -5.3 3.5 -8.7 -.3 -.2 -.? 3.2 3.8 1.8 7.8 .2 4.9 2.1 .8 • -.8 .2 1.1 -2.2 1.5 9.1 -4.0 6.2 2.0 .5 .8 3.3 • 5.8 .3 2.8 2.0 1.3 -.3 -1.3 .4 1.6 2.5 -3.4 1. 1 -1.9 -1.0 2.5 2.5 • -1.2 .1 .3 .8 -1.0 N E T I N C R E A S E IN A S S E T S HOUSEHOLDS CORPORATE BUSINESS U.S. GOVERNMENT SPONSORED CREDIT AGENCIES MONETARY AUTHORITY -1.1 4.8 -3.5 3.0 -3.8 3.7 2.8 -5.2 -.5 .2 .4 1. 0 1.5 3.0 12 13 14 15 16 17 18 19 20 21 22 open -m arket commercial banking MUTUAL SVGS. BANKS INSURANCE FINANCE N.E.C. R EST OF THE WORLD paper 1 4.1 12.2 1.7 -1.0 -.1 -7.8 -3.6 4.3 3.0 .4 1.0 -4.9 OPEN MARKET PAPER-TOTAL N E T I S S U E S . BY T Y P E A ND S E C T O R — 1 2 3 4 1.7 1.7 6.6 3.6 3.0 -.8 .3 -1.1 -.6 -.1 -.5 -8.8 -.3 -8.6 -8.8 -6.4 -2.4 -.7 -.5 -.2 2.9 2.0 .9 4.2 4.4 -.1 -2.1 -2.6 .6 1.3 2.1 -.8 • •8 -1.4 .7 DIRECTLY-PLACED PAPER FINANCE COMPANIES BANK AFFILIATES 2 3 4 5 6 7 8 2.3 1.5 .8 • 4,6 2.3 1.1 1.2 .9 2.2 -.5 -.8 -1.3 -1.2 -.1 .1 3.9 3.3 1.0 -.4 -.4 .5 -.7 -.2 -4.2 -4.1 -.5 .4 -.2 .6 -.6 -.2 -.2 -2.0 1.3 .4 1.1 1.5 -.6 .2 3.9 4.6 —. 6 • -1.7 -3.0 .3 .9 DEALER-PLACED PAPER NONFIN. CORPORATIONS FINANCE COMPANIES BANK AFFILIATES 5 6 7 8 9 10 11 12 13 .1 -.2 .3 .1 .1 1.0 .3 .7 .4 .4 1.6 .8 .8 .4 .4 .8 .3 .5 .3 .3 4.8 3.6 1.2 .6 .6 1.4 .3 1.0 .5 .5 1.4 -.2 1.6 .8 .8 1.6 .2 1.3 .7 .7 -1.0 .9 -1.9 -.9 -.9 1.4 .6 .8 .4 .4 -4.2 -3.7 -.5 -.3 -.3 -2.4 -2.0 -.4 -.2 -.2 BANKERS* ACCEPTANCES REST OF THE W ORLO NONFIN. BUSINESS NONCORPORATE CORPORATE 14 15 16 17 18 19 20 21 4.1 2.0 2.5 -.1 -1.1 • .3 .6 12.2 5.9 2.7 • .5 .9 1 .2 1.0 1.7 -1.8 .6 * 2.0 .8 -.4 .5 -1.0 -3.9 1.8 .2 .8 .7 -.4 -.2 -.1 1.6 -1.9 -.1 .4 .3 -3.4 2.9 -7.8 -7.7 1.4 .3 .9 2.4 -4.7 -.4 -3.6 -4.1 -5.3 -.3 -.2 2.3 2.2 1.6 4.3 .2 4.9 « -.8 .1 -1.5 1.5 3.0 -4.0 6.2 .8 3.3 -2.1 2.2 -3.5 .4 -3.8 3.7 -.5 .2 .2 -2.4 3.0 1.0 .3 2.8 -.3 -1.3 .3 2.6 -3.4 -4.9 -1.9 -1.0 • -1.2 -.7 .8 -1.0 OTHER 2 .2 .5 1.8 4.8 .6 4.2 2.1 -.3 2.3 1.9 -.1 2.0 1.3 -.5 1.8 4.0 .3 3. 8 1.6 -.2 1.8 - .7 - .2 -. 5 2.5 -.3 2.8 3.9 -.3 4.2 -.1 -.4 .3 -.1 4 3.6 3.4 2.5 3.1 2.0 4.9 3 .5 2.1 2.0 2.8 2. 0 2.5 5 6 7 8 9 10 11 .4 -.1 .3 .2 .3 .2 2 .2 .3 -.1 .6 .3 .1 .4 » .1 .7 -.2 -.2 .3 - 1.3 1 .8 .8 .6 .3 - .3 -.1 2.7 1.0 - .2 .6 .3 .3 .1 .3 .4 2.1 .8 -.1 .4 .3 .4 .3 2.8 .3 .4 - .2 -.1 .6 .4 .2 .3 .1 .4 .1 .4 1.3 12 13 14 15 1.2 .1 .2 .9 4 .8 .2 .6 4.0 2.3 .3 .7 1.3 -2.0 .7 -2.7 .5 .3 1.0 -. 7 -.6 .3 1.0 -1.8 -8.7 .1 .9 -9.8 .8 -.6 .5 .9 16 17 18 1.3 • 2.6 .1 2.3 .1 1.0 1.6 .9 .9 « # 1.2 2.5 2.2 1.0 1. 6 • .9 • .9 19 .' .3 20 I 1 1/ 72 .2 IS B A S E D ON P R E L I M I N A R Y .4 .2 • .3 A ND - -.2 INCOMPLETE P URCHASES* BY SECTOR HOUSEHOLOS NONFIN. CORPORATIONS FEDERAL RESERVE COMMERCIAL BANKS LIFE INSURANCE COS. INVESTMENT COMPANIES R EST OF THE WORLD 14 15 16 17 18 19 20 21 TYPES 1 2 3 • .3 NET 9 10 11 12 13 1.1 - « -.2 - INFORMATION, - .3 » • • 1.1 * .1 .1 .4 • • - - .7 1.5 1.1 .5 .2 -5.2 .3 .5 -6.0 1.3 .2 .5 •6 2.5 .5 .4 • 1.1 1.0 .7 1.3 1.0 I*1 1.0 .7 1.3 1.0 • • • .2 - - • .4 - • • 1.9 • F I N A N C E CO. L O A N S TO B U S I N E S S L I A B I L I T Y - N O N C O R P , BUS, CORP. BUS. 1 2 3 U.S. GOVT. L O A N S L I A B I L I T I E S OF* HOUSEHOLOS FARM BUSINESS N O N F A R M N O N C O R P . BUS . CORPORATE BUSINESS STATE ♦ LOCAL GOVTS. SPONSORED CR.A6ENCIES REST OF THE WQRLO 5 6 7 S 9 10 11 S P ONSORED CREDIT AGENCY LOANS N O NFARM NONCORP. BUS.(BC) f a r m b u s i n e s s <f i c b ) S V G S . ♦ L O A N A S S N S . (FHLB) 12 13 14 15 P O L I C Y L O A N S (HSHOLD LIAB.) ASSETS U.S. 60VT. LIFE INSUR. COS. 16 17 4 18 MUTU A L SVGS. BANKS L O ANS TO .4 - .1 NONCORP. BUSINESS H Y P O T H E C A T E D DEP O S I T S (HSHOLDS LIAB.) ASSET-COMMERCIAL BANKS 19 20 7 N O V E M h FR 1v 7/ SECURITY CREDIT. THAW CHfUH* ANO TAXES , SECURITY SFCJWITY SEASONALLY 19*>8 ADJdSUD A M wiial YF.A* TOTALS 14*9 p a CREDIT. TRADF CREDIT. ANO TAXES tHlLLiaivS OF t>OLLA«5> TES lvi7.) \if7\ 1970 IV I | 1 **71 I II SECURITY H I IV | I TRADE CREDIT* AND TAXES 23 SEASONALLY \ I CREDIT* PAYABLE I ADJUSTED 1972 II H I ANNUAL RATES credit 1 2 3 4 4.0 2.3 •3 2.0 -4.7 -2.7 -.1 - 2 *b -.S -1 .9 -.S -1.4 ? .7 ?. 1 .1 2.0 6.4 1.6 -.6 2.1 2.9 1.9 « 1 .9 .S 3.0 .2 2.8 .5 .7 » .7 6.9 2.9 .3 2.6 13.6 8.4 .6 7.8 10.9 6.7 1.1 5.7 12.1 6.4 .8 5.6 5 6 7 8 2 . f) 1 .0 * 1 .0 -2.0 -1.0 -l.o 1.4 1.9 “ -.6 .6 .7 1.0 -1.3 2,3 -2.5 -.9 -1.6 -.2 1.3 -1.5> 4.0 3.5 .6 5.2 3.9 1.3 4.2 5.4 -1.2 5.6 2.7 -.1 4.8 4.6 .2 9 10 11 12 13 4.4 .7 •3 1.3 2.0 -0.7 -.6 -.2 -1.1 -2.6 -.S -.s -.1 1 .4 -1.4 2.7 » » .8 2.0 6.4 « .2 4.0 2.1 2.9 1.6 .6 -1.3 1.9 mb .S -1.2 -.3 1.3 .7 6.9 .6 -.1 3.8 2.6 13.6 1.2 .1 4.5 7.8 10.9 -1.2 -. 1 6.5 5.7 12.1 2.9 .1 3.5 5.6 NET CHANGE IN ASSETS HOUSEHOLDS FOREIGN COMMERCIAL BANKING BROKERS AND DEALERS 1 2 3 4 12.0 .5 .4 -.3 16.6 .5 .7 -.7 7. 1 .6 1. 1 .6 3.8 .6 1.4 -1.0 3.1 .6 1.4 -.2 4.5 .6 1.8 -1.3 4.5 .6 .6 -.2 7.3 .6 1.5 -.1 15.2 .6 .4 .5 9.5 .6 1.0 .5 10.3 .6 .9 1.4 net .6 1 .8 -1 .5 5 6 7 8 10.4 .6 • .4 15.2 •4 -.3 .8 2.8 .4 -.6 2.1 3.4 .5 -.7 -.4 -2.1 .5 -.1 3.1 6.8 .4 .1 -3.9 -1 .5 .4 -1 .5 .7 2.8 .4 .3 .1 4.8 .5 -1.6 1.6 13.2 .5 -.6 .5 9.8 .5 -2.2 -.5 8.5 .5 -1.3 -.2 9 10 11 12 13 15.7 13.9 .6 .3 .9 19.4 17.3 .9 .4 .8 7.2 6.2 -.8 .5 1.3 2.8 o.O -1.7 .5 * 1.5 .3 -1.0 .5 1.7 6.2 7.9 -1.7 .5 -.4 -1 .4 1 .8 - 3 .4 .5 - .3 3.6 3.6 -.4 .5 -.2 3.0 2.8 -1.2 .5 .9 20.1 19.4 • .5 .2 15.4 13.2 * .5 1.6 12.8 11.8 .2 .5 .3 N E T C H A N G E IN A S S E T S CORPORATE BUSINESS U.S. GOVERNMENT INSURANCE FOREIGN 9 10 n 12 13 14 -3.7 -2.9 -.1 1 .0 1.5 -1.8 .5 .9 4.3 -4.9 -5.9 -2.5 DISCREPANCY 14 2.1 1.9 .2 .1 .1 • -.6 .5 • •1 -1.1 .1 .1 • • -4.3 -4.6 * • .1 • .1 • • 2.3 1.9 -.3 .1 .1 .1 .4 • • TRADE PROFIT 1 2 3 4 5 6 7 8 9 3.0 2.9 -.1 « .2 • • • -3.1 -3.3 • 10 11 12 2.4 1.7 -3.2 -2.6 -.6 13 .7 .1 • • 1 1 1/72 (V 3 -2.4 * -3.2 IS B A S E D ON _.9 TAXES 9.2 10.0 • -.7 .1 -.1 » * « -.2 » • 1.1 1.1 .1 .4 .1 -.3 -.3 • * -3.9 -3.0 -.9 1.4 1. 1 .3 -3.9 -2.9 -.9 .6 .5 .1 5.7 5.4 .3 .8 .6 .2 -1.5 -2.0 .6 -1.2 -1.7 .5 -4.5 -5.0 .5 .9 .4 .5 1.7 2.4 3.6 2.3 3.5 1.3 2.6 .6 .2 1.4 in change farm liabilities NONFARM NONCORP. BUSINESS (PAYABLES LESS RECEIVABLES) CORPORATE BUSINESS STATE AND LOCAL GOVERNMENTS U.S. GOVERNMENT FOREIGN (1 - 9 ) NONCORPORATE TOTAL TAXES PAYABLE NONFINANCIAL CORPORATIONS FEDERAL RESERVE commercial I 2 3 4 S 6 7 8 10 11 12 UNALLOCATED 13 BUSINESS -4.9 -4.3 -3.6 -2.2 -2.4 -3.2 -4.1 -3.1 TOTAL -1.7 -3.2 -.8 -3.6 -.6 -3.0 .1 -2.4 1.0 -3.4 -.6 -2.6 -1.0 -3.2 -.7 -2.5 n onfarm . I 2 3 4 5 6 7 8 9 TOTAL TAXES RECEIVABLE u . s. g o v e r n m e n t STATE ♦ LOCAL GOVTS. -.1 -3.1 in formatio n banks SVG. ♦ LOAN ASSNS. LIFE INSURANCE COMPANIES OTHER INSURANCE COMPANIES FINANCE COMPANIES BROKERS ♦ DEALERS -3.2 INCOMPLETE in business -4.9 AND 9 10 U I? 13 HOUSEHOLDS -1 .7 -3.2 preliminary 5 6 7 B PAYABLE 2.9 3.0 -.4 .1 * .1 « • » EQUITY BROKERS ♦ DEALERS FROM COMMERCIAL BANKS F R O M F O R E I G N B A N K I N 6 AG. CUSTOMER CREDIT BALANCES 1 2 3 4 CREDIT -.3 -1.1 • .2 • .3 .2 * .1 - i . 3.0 3.8 4.0 * * .1 -.1 -.1 « « -2.1 -2.7 « .3 » .1 .1 « PWOPRIETOWS* 2 3 -1.2 -.4 -.7 2.8 - N E T C H A N G E IN L I A B I L I T I E S CUSTOMERS SECURITY LOANS FROM BANKS CUSTOMER DEBIT BALANCES FARM HOUSEHOLD INVESTMENT noncorporate BUSINESS business 1 2 3 7 N O V E M B E R 1972 MISCELLANEOUS I MISCELLANEOUS » M I S C E L L A N E O U S F I N A N C I A L Cl AI MS ( M I L L I O N S OF DOLLAriSJ SEASONALLY ADJUSTED ANNUAL YEAR 1969 TOTALS 1970 RAlfr.S SEASONALLY 197G IV 197? II III I 2 3 4 19.4 .4 4.1 .7 32.5 4.8 -.4 5*3 .4 3.4 .5 14.3 .5 3.6 •8 -6.4 .4 -1.0 2.0 2u.O .4 .8 .2 -7.0 .4 -1.4 1.6 34.9 .5 5.8 -1.0 9.6 .5 9.3 2.5 30.2 .5 -.6 -1 .5 13.3 .5 -.7 2.1 16.1 .5 2.8 -.6 5 6 7 8 12.4 -.3 •2 8.0 25.0 .4 .4 18.9 -1.7 2.1 .4 -10.0 4.5 -.5 -.2 -1.3 -4.8 3.3 .8 -14.7 8.3 4.0 -.7 -1.2 -12.2 -5.5 -.4 -13.9 24.0 .6 1 .2 15.7 -2.2 -1.2 -.9 -5.7 23.2 1.8 .8 13.0 11.3 -.6 .4 4.3 11.1 .9 -.4 3.0 9 10 11 12 13 .4 •1 1 .5 2.5 1 .9 .4 .2 1 .4 3.3 ?. 7 .6 .1 1.7 3.4 2.6 .8 .1 2.0 3.5 5.0 .9 -.3 1.6 3.5 -3.1 1.0 « 1. 8 3.5 10.2 1.7 .2 2.1 3.5 4.5 .8 .3 2.0 3.5 5.8 -.3 .1 2.2 3.5 -.4 1.5 .5 2.0 3.6 8.6 1.5 .4 1.9 3.6 .I 1.9 .4 1.9 3.5 2.4 14 15 16 17 18 19 12.3 1.8 .4 .5 2.4 -.2 17.3 2. 1 •* .7 3.U .1 10.3 >.6 .5 .7 4.3 .3 5.8 2.4 .4 .7 5.1 .1 -6.4 2.6 .5 .7 3.1 .5 13.0 2.5 r4 .7 6.4 -.2 -9.3 2.4 .4 .7 5.8 -.2 lri.2 2.4 .3 .7 6.2 .4 1.2 2.5 .5 .7 2.0 .2 15.7 2.4 .3 .7 6.2 -.3 13.5 2.5 .4 .7 -1.1 .2 18.7 2.4 .3 .7 2.4 -.4 20 21 22 4.0 * 2.8 2.9 .1 1 .9 7.7 1. 0 3.0 4.3 .6 1.9 4.5 2.0 -1.6 16.7 .9 7.9 -8.6 .8 -5.7 9.6 1.7 6.3 -.7 -1.2 -.9 7.1 • 1.5 1.1 1.4 -.7 10.1 2.6 5.1 23 24 25 26 27 28 * •3 *6 .4 • 1 3.4 * .9 •i * 8.0 2.5 .3 .8 * .2 -5.7 .2 .6 .8 •1 .1 -7.1 2.8 .3 .8 .2 .1 -18.2 5.4 .8 .8 .8 .1 -13.4 -4.5 .6 .8 -.6 .1 -9.8 -.6 .9 .8 .3 .1 -1.3 .5 .2 .8 -.3 .2 -4.0 2.2 3.1 .8 -.7 .1 -.7 -.2 -.3 .8 -.1 .2 9.8 1.3 .2 .8 -.1 .2 3.1 29 7.1 15.2 -5.0 8.5 » 7.0 2.4 16.7 8.4 14.5 -.2 -2.6 2.3 I .8 .5 33 34 35 36 37 ,5 .5 - .1 * 38 - 7.9 b.B 1 .2 - .5 - .4 - .1 * -6.9 -7.2 .2 -.2 - .4 * .1 •1 - -4.1 -4.8 .7 .4 .4 -.2 .2 -15.8 -16.0 .2 -.8 -1 .4 .2 .2 .2 -10.3 -10.4 .1 1.1 1.1 -.3 .3 .1 -5.6 -6.2 .6 -.2 .1 -.3 -.1 .2 5.0 3.9 l.i .8 .6 • .2 » -5.4 -6.3 .9 1.6 2.5 -.9 1.4 -.4 1.7 .9 .5 .8 .3 -.4 .5 • -.1 -.1 -.2 .6 -.6 SAVINGS ♦ LOAN ASSNS. MUTUAL SV6S. BANKS life imsurance NONLIFE R E S T OF •3 39 1.1 2.2 3.6 3.4 3.3 4.1 4.4 4.3 .7 4,0 -2.7 .5 .3 .» 1.0 -.2 .6 .4 -.1 -1.6 .5 -1.4 1.4 .4 41 .1 .e! .2 .3 .3 .1 .2 .4 .2 .1 .3 42 « -.3 1.3 -.5 2.6 4.5 -5.5 -1.2 -.1 1.0 43 44 -.2 - .3 .2 ~ .3 “ .1 - .4 .i .1 -.1 • # .1 • .3 * .4 - .2 - .1 - 45 46 47 48 « •1 • • • » « • .1 * * .1 .1 * .1 -.1 * • * .1 .1 « • .4 • .1 • • • • .1 .1 » .1 * « • .1 • .1 .1 .1 1 11 /7 2 IS B A S E D ON P R F L T M I N A ^ Y A ND INCOMPLETE INFORMATION. COMPANIES BUSINE 9 10 11 12 13 14 15 16 17 18 19 20 21 22 SAVINGS ♦ LOAN ASSNS. MUTUAL SVGS. BANKS life i n s u r a n c e COMPANIES PRIVATE PENSION FUNDS S .♦ L . G O V T . R T R . F U N D S R E S T OF TH E W O R L O 23 24 25 26 27 28 total finance UNALLOCATED* NET 29 DEPOSITS CURRENCY EXCEPT LIABILITY-REST ASSET- OFFICIAL— OF THE WORLD CORPORATE BUSINESS U.S. GOVT. COMMERCIAL BANKS F G N . B A N K I N 6 AG. 30 31 32 33 34 35 36 37 S A V I N G S D E P O S I T S (U . S . G O V T . L I A B . ) ASSET - HOUSEHOLDS 38 DIRECT ft INSURANCE THE W O W L O 5 6 7 8 SP O N S O R E D CR. AGENCIES COMMERCIAL BANKING -.2 40 • companies TOTAL ASSETS HOUSEHOLDS FARM BUSINESS NONFARM NONCORPORATE CORPORATE BUSINESS U.S. g o v e r n m e n t (B) .2 1 2 3 4 TOTAL FINANCE S P O N S O R E D CR. A G E N C I E S MONtTARY AUTHORITIES COMMERCIAL BANKING -.1 POSTAL - OATES C O M L . B A N K L I A B . TO F G N . A F F I L I A T E S 4.0 A S S E T - R E S T OF THE WORIO 2.4 LIA B t C O M M E R C I A L BANKS 1.6 F G N . B A N K I N G . AG. FOREIGN -.2 » -.1 .3 -.4 ANVUAL 24 TOTAL LIABILITIES HOUSEHOLDS CORPORATE BUSINESS U.S. G O V E RNMENT (A) 30 31 32 AOJUSTEO I EQUITIES F G N . I N V E S T M E N T BY U . S . C O R P . L I A B . - R E S T OF TH E tfORLO D I R E C T INVES T M E N T IN U.S. A S S E T - R E S T OF T H E W O R L O 39 40 u. S. G O V T . E Q U I T Y I N I B R D * E T C . .2 L I A B I L I T Y - R E S T OF T H E W O R L D 41 D E P O S I T S AT F H L B ( S. * L . A S S N S . ASSET) -1 . 1 .3 L I A B I L I T Y - S P O N S O R E D C R . A6S. * • 42 E Q U I T I E S IN U . S . G . C R . A G E N C I E S 43 U.S.GOVERNMENT PRIVATE N O N F A R M N O N C O R P . 1B C » F A R M BU S . ( F I C B ♦ FLB) S V G S . ♦ L O A N ASSNS.(FHLB) C O R P O R A T E BUS.(FNMA) 44 45 46 47 48 7 NO V E M B E R 1972 M I S C F i , L A M F O U S II M I S C E L L A N E O U S II J H lS Ch LLA Nfc UU S F IN A NC I AL C L A I M S (BILLION'S OF DO LL A R S ) • SEASONALLY AOjuSTfcO A \ M 1>AL TOTALS 1968 YtA^ 1969 ( C ON TI NU ED ) u A T *• s 25 SEASONALLY h/1 \ I 1970 IV f | 1971 I II H I IV I t I ADJUSTED 1972 II ANNUAL RATES III (C) 1 . <♦ •J ,4 .4 • ** .5 .5 D E F E R R E D AND .5 .5 UNPAID .5 .y .3 ,b 1 .u .4 .6 1 .? .b 1.1 .b .b 1.2 .6 .6 1.1 .b .6 1.1 .b .b 1.1 .5 .b 1.1 .5 .6 1.1 .b .6 5 6 7 8 9 2.b .8 .5 .3 .9 3.3 1.1 .7 .4 1.2 3.4 .7 .4 1 .4 3.5 1 .2 .7 .3 1.3 3.5 1.0 .7 .4 1 .4 3.5 l.l .7 .3 1.3 3 .b 1.3 .7 .3 1.3 3.5 1.3 .7 .3 1.3 3.5 1.2 .7 .3 1.3 3.6 1.3 ,7 .3 1.3 3.6 1.3 .7 .3 1.3 10 7.1 lb.2 -5.0 «.b « 7.0 2.4 16.7 8.4 14.5 -.2 -2.6 11 12 13 14 15 16 1 1.6 3.8 .2 .5 .2 -. 1 17.2 4.0 -.3 -.1 .7 .5 1. 0 2.5 -.6 1 .2 -1.1 .5 4.9 3.H « .8 1.0 -.1 -2.1 -1.6 2.0 -5.8 .2 14.9 .5 « .2 4.8 -.7 -5.3 -1.3 « 1.7 « « 21.9 7.3 -1.0 .2 1.6 8.3 8.8 2.5 -1.2 -1.4 18.3 .9 « -l.b 3.6 .3 8.3 -2.0 2.1 2.1 .3 5.8 2.4 -.6 1.9 .5 17 18 19 20 .4 .1 .6 .2 .4 .2 .5 .4 .6 .1 .5 .4 .8 .1 .9 -.2 .9 -.3 .5 .8 1.0 « .7 -.7 1.7 .2 1.0 -.4 .8 .3 .8 1.2 -.3 .1 1.1 -.9 1.5 .5 .9 .8 1.5 .4 .7 .4 1.9 .4 .7 -.4 21 22 23 24 25 4.4 3.9 .3 .3 5.6 3.8 .3 .4 1.1 4.9 ?.l 1.0 1.3 .5 -.1 .1 .6 -1.1 .3 .4 -.4 .1 .3 .4 -.3 -4.2 4.0 -.5 .4 -4.9 -2.3 .5 -3.4 .3 2.0 3.9 -1.1 -1.2 .3 2.7 3.1 -1.1 .5 .3 -1.7 -5.0 -1.1 4.2 .3 5.5 4.7 -1.6 2.1 .3 26 27 26 29 1.2 .5 .9 .2 5.4 • 5.4 • -8.0 -4.1 -4.1 -.2 2.9 .9 2.6 .5 .6 -2.5 1.9 -1.2 9.4 9.8 * .4 -3.3 -7.2 4.2 .3 8.7 1.5 7.2 - -3.1 -.6 -1.1 1.4 13.1 7.4 5.1 -.7 30 31 32 33 34 35 36 37 4.5 .7 • • .3 .3 .4 .1 2.0 -.7 .1 • • .5 .3 * 6.0 .3 1.0 1 .1 .3 .4 • .2 1.3 -2.9 .6 .7 .6 .4 .1 .1 -2.1 -3.1 2.0 .1 .3 .4 .2 .1 7.9 -3.4 .9 .8 .6 .4 .8 .1 -7.7 -4.1 .8 1.0 .6 .4 -.6 .1 5.2 -4.8 1.7 .5 .9 .4 .3 .1 -.1 .9 -1.2 15 38 39 40 1 .9 .7 .1 .8 .2 .9 1 .2 1.4 .3 1.3 .4 « -1.8 -.4 .2 6.7 .8 .1 -3.1 -2.7 « 4.1 2.0 • I I 1/ 72 IS B A S E D ON P R E L I M I N A R Y AN D INCOMPLETE (0) (E) INFORMATION. INSURANCE CLAIMS LIFF COMP A N Y R E S E R V E S ( H O U S E H O L D S ASSET) 1.2 LIABILITYLIFE INSURANCE 1.2 .6 ACCIDENT AND HEALTH .6 .6 .6 PO L I C Y D I VIDEND ACCUM. 2 3 4 - LIFE P R E M I U M S (LIFE INS. ASSET) LIABILITY - HOUSEHOLDS 3.5 1.3 .7 .3 1.2 NONLIFE INSURANCE business HOUSEHOLDS UNALLOCATED NET ASSETS TOTAL 2 3 4 CLAIMS LIABILITY - OTHER INSURANCE ASSETCORPORATE BUSINESS NONF A R M NONCORP. BU farm 1 5 6 7 8 9 AND LIABILITIES (LIAB. - ASSETS) TOTAL LIABILITIES CORPORATE BUSINESS U.S. GOVT. U.S. G O V T .-WITHOUT LEVELS REST OF THE W O R L O SPONSORED CR.AGENCIES 10 11 12 13 14 15 16 SVGS.♦ LOAN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE MONETARY AUTHORITIES 17 18 19 20 -4.6 -4.2 -2.3 1.6 .2 COMMERCIAL BANKING COMMERCIAL BANKS BANK AFFILIATES FGN. BANKING AGENCIES B A N K S IN U . S . P O S S . 21 22 23 24 25 -2.5 -7.2 4.5 -.2 3.6 5.8 -1 .6 .6 F L O A T S IN COML. BANK STMN ON INT E R B A N K D E P O S I T S ON I N T E R B A N K L O A N S LESS - O N M.B. RESERVES 26 27 28 29 .2 .4 -.3 .2 3.9 -.9 • .8 3.1 .4 -.7 .1 8.5 7.0 1.4 .9 -.3 .4 -.1 .2 8.3 -1.2 2.6 .9 .2 .4 - .1 .2 -2.4 1.5 * 3.9 -2.9 « -1.9 1.0 - 5.0 .4 • TOTAL ASSETS R E S T OF THE WORLO S P O N S O R E D CR. A G E N C I E S S V G S . ♦L O A N A S S N S . MUTUAL SAVINGS BANKS LIFE INSURANCE PRIVATE PENSION FUNOS S.* L.GO V T . R T R . F U N D S COMMERCIAL BANKS FGN. BANKING AGENCIES B A N K S IN T E R R . A N D P O S S . 30 31 32 33 34 35 36 37 38 39 40 7 N O V E M B E R 1972 TO T A L C L A I M S total 26 TO TA L SEASONALLY ADJUSTED ANNUAL 1968 YEAH 1969 TOTALS 1970 F I N A N C I A L A S S E T S AMD L I A B I L I T I E S ( R I L L I O NS OF DO L L A RS ) BATFS 1971 TOfAL 1970 IV FUNDS I I 1971 I RAISED II AND ADVANCED HI I I IV IN C R E D I T MA W K t - T S I 91.7 - 3 . fa 3.3 9<>.U 8.7 32. 6 <♦0.2 7.4 3.2 10 1 . 6 1?.8 J.O 85.7 13.9 2?.3 3«->.8 6.4 3.2 156.3 25.5 5.6 125.2 2u.b 41 .6 48.6 10.3 4.1 118.3 18.0 5.1 95.2 21.7 16.6 44. 1 7.5 3.2 115.8 3.9 4.2 107.7 24.9 23.4 45.5 10.4 3.6 170.0 4 0 .b b .8 122.6 19.3 39.6 48.5 1 1.5 3.6 173.7 25.9 8.0 139.9 20.? 4 6.e 57.5 10.6 4.9 164.1 31.4 3 .b 129. 1 16.0 55.1 42.8 8.H 4.3 146.5 6 .b 4.2 135.8 17.8 50.7 51.5 11.8 3.9 10 li 12 13 14 15 16 15.1 3.5 1.1 13.1 8.7 1 .8 1. 8 ?.b .1 -1 .9 9 ,b 4.7 .2 - 31.1 8.a 4.1 8.3 5.5 .1 4.2 4.3 1.3 .b -.4 1.8 b .9 1.9 1.3 .7 -8.9 -.4 -.7 -.7 4.7 -2.0 .9 -2.6 1.2 1.3 -4.4 1.1 2.7 .4 .2 lb.3 7.4 3.0 3.1 2.0 .2 .7 21.4 7.5 2.1 8.3 2.5 .6 .3 10.9 6.3 -7.1 10.0 -2.7 3.6 .8 17 112.9 122.8 114.7 166.0 120.1 115.4 171.2 190.1 185.5 157.4 e 9 5.5 14.1 5.3 .7 5.5 2.6 18 19 20 21 22 38.b 29.2 ,b 1.7 7. 1 4.5 7.8 .5 -1.6 -? .3 1.9 « * -1.0 -16.8 •b 7.5 7.7 -7.8 -7.8 .6 -3.5 2.8 -52.1 -61.1 « 3.0 b.O 9.8 -5.7 .6 2.4 12.4 29. 1 8.0 .9 1 1.4 8.8 8.1 -8.6 .9 12.1 3.6 ADJUSTED 197? II ANNUAL RATES III (1) 97.8 13.4 3.1 81 .4 10.4 31.9 30.7 5.7 ?.7 1 2 3 4 5 6 7 laims t SEASONALLY I I C -14.9 -24.8 .4 1 .1 8.4 166.8 16.3 1.5 148.9 14.7 60.9 57.5 10.9 4.9 FUNDS 163.0 10.6 1.0 151.5 18.0 69.1 50.0 10.2 4.1 R A I S F O IN C R F D I T M A R K E T S B Y — NONFINANCIAL SECTORS FEDERAL GOVERNMENT FOREIGN PRIVATE DOMESTIC STATE ♦ LOCAL GOVTS. HOUSEHOLDS C O R P O R A T E N O N F I N . BUS. NOVF AR M N O N C O R P . BUS. FARM BUSINESS 17.9 19.9 FINANCIAL SECTORS 8.8 3.2 S P O N S O R E D CR. A G E N C I E S 4.3 4.0 SAVINGS AND LOAN ASSNS. 10.0 3.3 finance c ompanies 2.0 .5 investment COMPANIES .4 .6 COMMERCIAL BANKS -.8 1.6 BANK AFFILIATES F O U A L S — TOTAL F U N D S RAISED AND ADVA N C E D 184.7 18?.9 IN C R E D I T M A R K E T S 31.9 18.2 .8 7.3 5.6 NET A C Q U I S I T I O N S BY i P R I V A T E D O M E S T I C 15.1 NONFINANCIAL SECTORS HOUSEHOLDS - .6 .8 NONFARM NONCORP. BUSINESS 5.6 N O N F I N A N C I A L CORPO R A T E BUS. 9.3 STATE ♦ LOCAL GOVTS. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 4.9 2.9 2.8 3.2 1 .8 4.9 3.9 2.1 1.8 3.2 1.4 3.3 24 25 26 91.5 3.2 3.7 8 0 .U 9.0 4.2 96.4 9.9 5.0 13b.5 2.8 8.8 103.3 8.0 4.6 136.9 .9 14.1 129.4 -4.6 2.7 125.9 7.1 8.8 153.3 7.8 9.8 152.0 7.3 3.9 154.2 6.9 5.6 153.3 2.8 -6.0 27 28 29 30 31 39.1 38.5 .4 .1 19.0 13.4 3.9 1.5 .2 31.7 32.2 -1.0 .3 .1 49.7 49.4 -.1 .2 .2 38.1 44.4 -9.1 2.7 .1 43.7 45.7 -.4 -1.8 .2 55.2 53.6 .8 .6 .3 43.6 43.1 -.4 .6 .3 56.2 54.9 -.5 1.5 .2 59.4 57.2 -.3 2.2 .2 52.2 52.8 -1.9 1.1 .2 65.2 62.6 -.1 2.5 .2 COMMERCIAL BANKING COMMERCIAL BANKS BANK AFFILIATES FGN. BANKING AGENCIES B A N K S IN U . S . P O S S E S I O N S 27 2ft 29 30 31 32 33 34 35 45.5 4.3 10.1 1 .4 47.8 3.2 9.8 1.5 49.9 4.1 11.3 1 .5 75.2 9.8 29.4 2.9 52.5 5.0 17.2 1.1 78.2 12.6 32.3 2.3 76.1 11.8 30.0 2.6 66.4 6.5 29.6 3.0 79.5 8.5 25.9 3.4 81.4 12.0 34.8 3.2 89.4 11.2 35.1 3.3 91.3 10.1 37.9 3.0 PVT. NONBANK FINANCE MUTUAL SVGS. BANKS SVGS. ♦ LOAN A S SOCIATIONS CREDIT UNIONS 32 33 34 35 36 37 38 39 9.0 2.7 5.8 4.5 8.4 2.6 6.0 5.2 9.0 4.8 6.9 6.5 11.7 4.3 7.4 6.8 8.7 4.7 8.6 5.1 11.7 3.4 6.6 7.8 11.3 4.8 9.4 7.2 11.7 4.3 4.3 5.8 12.1 4.9 9.1 6.5 14.4 5.2 4.9 3.2 10.9 5.3 7.6 11.4 13.2 5.6 5.8 7.4 LIFE INSURANCE COMPANIES OTHER INSURANCE COMPANIES PVT. PENSION FUNDS S.* L .GOVT. RTR. FUNDS 36 37 38 39 40 41 42 5.2 2.4 -.1 7.7 3.4 .2 1.6 1 .6 2.6 3.9 .3 -1.5 -1.3 .8 2.6 4.9 -2.5 -1.0 2.9 1.3 -5.3 1.4 .8 -1.0 6.2 1.7 1.4 10.4 -3.9 -2.7 5.8 .4 -1.5 9.0 -.8 • finance INVES T M E N T COS* BROKERS ♦ DEALERS 40 41 4? 43 2.4 1.3 11.0 22.9 25.6 28.1 33.0 22.3 17.1 -2.8 11.2 WORLD 4" 182.9 27.3 CLAIMS TOTAL AND THEIR RELATION TO TOTAL FINANCIAL U.S. GOVERNMENT 23 FINANCIAL INSTITUTIONS SPONSORED CREDIT AGENCIES FEDERAL RESERVE SYSTEM companies OPEN-END SECURITY REST OF THE ASSETS 1 112.9 122.8 114.7 1*>6.0 120.1 115.4 171.2 190.1 185.5 157.4 184.7 2 3 2.1 .4 .3 .3 -2.5 .6 -1.7 .5 -1.9 .3 -2.5 .4 -.7 .6 -3.7 .5 • .5 -.3 .7 .2 •6 4 5 6 7 8 48.4 35.7 14.9 20.7 12.7 7.2 -.8 8.6 -9.3 7.9 66.7 49.7 11.8 38.0 17.0 100. b 59.8 18.4 41 .4 40.8 89.8 63.6 19.5 44.1 26.2 117.8 65.8 4.9 60.9 52.0 104.7 62.3 29.4 32.8 42.4 74.4 38.9 6.5 32.4 35.4 105.4 72.0 32.7 39.3 33.5 107.0 49.4 11.7 37.7 57.6 99.4 57.9 11.5 46.3 41.5 106.7 61.6 15.2 46.4 45.1 9 19.9 20.7 24.7 26.9 26.4 27.8 28.2 23.7 27.8 18.2 33.6 26.6 INSURANCE 10 11 12 13 14 4.4 -4.7 12.0 3.0 -2.0 19.4 lb.6 -3.1 -3.2 32.5 -.5 7. 1 -2.1 -4.9 5.3 2.7 3.8 3.8 -3.2 14.3 6.4 3.1 -.3 -4.9 -6.4 2.9 4.5 2.9 -4.3 20.0 .5 -.9 9.2 -3.6 -7.0 .5 4.5 2.1 -2.2 34.9 6.9 7.3 1.1 -2.4 9.6 13.6 15.2 -.6 -3.2 30.2 10.9 9.5 -4.3 -4.1 13.3 12.1 10.3 2.3 -3.1 16.1 SECURITY CREDIT TRADE DEBT PROFIT TAXES PAYABLE NONCORP. PROPRIETORS* MISCELLANEOUS 37.2 -2.4 INTERBANK 15 4.4 2.7 S .3 5.0 -.2 11.9 14.0 3.6 -9.5 -18.5 16 224.8 192.U 214.2 318.7 232.3 296.6 316.0 328.3 332.3 319.7 17 18 19 .4 .2 -3.7 - .b .4 -2.9 * « 1.1 -.1 -.1 .8 1.0 1.6 1.5 -.8 .8 -1.8 .8 -.1 .5 .1 1.7 .9 -.3 1.3 4.3 1.2 1.8 -4.9 20 21 22 .2 .7 7.1 .2 .1 15.2 -.1 1.7 -5.0 * 2.4 8.5 -.1 2.3 7.0 • 3.5 2.4 .1 1.3 16.7 « 3.6 « 2.6 8.4 -.4 .6 14.5 23 219.8 179.5 21ft.6 30b.1 225.6 289.1 309.0 307.5 315.9 307.0 1 1 1/72 IS R A S E D ON P R F L T M I N A W Y AND « INCOMPLETE 24 25 26 TOTAL CREDIT MARKET DEBT (FROM P R E C E D I N G TABLE) OTHER DEBT FORMS— -.5 FOREIGN EXCHANGE .4 TREASURY CURRENCY 1 2 3 D E P O S I T S AT F I N A N C I A L I N S T S BANKING SYSTEM DEMAND DEP. ♦ CURRENCY TIME ANO SVGS.DEPOSITS SAVINGS INSTITUTIONS ♦ 4 5 6 7 8 PENSION RESERVE EQ. CLAIMS 9 10 11 12 13 14 15 381.1 351.4 TOTAL DEBT ABOVE D E D U C T — F L O A T S N O T I N C L U D E D IN A S S E T S 1.5 1 .1 DEMAND OEPOSITS-U.S.GOVT. 3.0 2.2 OTHER -5.9 -2.5 TRADE CREDIT D EDUCT — L I A B I L I T I E S NOT ALLO C A T E D AS ASSETS TREASURY CURRENCY -.1 -.1 .2 1.4 taxes payable -2.6 -.2 MISCELLANEOUS 20 21 22 383.7 23 350.6 TOTALS ALLOCATED AS A S SETS TO SECTORS 16 17 18 19 INFORMATION. (I) Includes corporate equities. 7 N O V E M H F K 1972 . SAtfJNfr H Y i N C X l V I U L i H S BY AMOUNT SEASONALLY ADJUSTED AMMiiAL 196« YEAR 196* TOTALS 1470 W/l I 2 3 72.4 1 2 .a 30.4 62.6 3.6 6.1 67.1 *.3 •»4 .5 9h.3 H.6 73. 4 5 6 7 8 3.5 .4 2.8 1.4 -.2 27.3 -•* 8. 1 4.3 7 .b ^.6 .3 -7.3 2.6 ?.o - 1 m . <> 9 10 11 12 4.8 2.0 ♦.7 -12.3 5.7 5.9 5.5 —■ 9. 6 13 14 15 16 17 4.6 2.9 6.4 6.0 5.9 18 19 20 21 22 ANH INDIVIDUALS C O m P Q S I T I O N OF I N D I V I D U A L S * f^ I L L I 8 N S O F D O L L A R S ) PATFS SAVING (1) 27 SEASONALLY r 1 1970 IV I 1 1971 I II IV III 1 1 ADJUSTED 1972 II I AN«*ML RATES III 87.9 15.1 100.9 99.0 6.6 65.1 90.6 -1.4 57.3 10^.1 11.1 70.6 103.0 12.5 92.1 126.1 -2.0 73.1 124.8 7.8 83.8 -14.3 -S.H 4.4 -9.5 1.7 -20.0 -3.5 1.6 -63.5 1.9 -40.7 -16.4 5.0 -6.2 2.7 -11.3 -*.5 4.5 3.4 2.4 -16.4 .9 7.2 -10.8 2.6 -9.0 -1.2 3.0 -27.1 3.2 -20.6 -5.3 4.2 16.4 3.4 -.2 2.2 7.0 -2.7 3.1 -4.0 -.1 7.4 SECURITIES U.S. SAVINGS BONDS O T H E R U.S. T R E A S U R Y SEC. U.S.G AGENCY SECURITIES STATE ♦ LOCAL OBLIGATIONS 1^.4 -1.6 ? •6 -S.2 7.6 -3.9 1.3 -6.5 15.5 1. 6 .7 -6.4 11.2 -7.7 -2.0 -12.9 7.0 -4.1 2.7 -3.4 9.0 .2 2.0 -2.0 3.1 -4.0 2.5 -7.8 4.1 -3.8 -2.7 -6.1 2.9 .3 2.0 -1.2 » -1.9 .5 -7.8 CORP. AND FORE I G N BONDS COMMERCIAL PAPER I N V E S T M E N T CO. S H A R E S OTHER CORPORATE STOCK 4.6 2.9 6.3 6.6 4.9 5.1 3.3 7.1 9.2 6.0 6.6 3.3 7.3 9.8 6.5 5.5 3.3 8.A 8.8 6.1 6.1 3.3 8.2 10.3 7.6 6.6 3.3 7.5 10.8 3.4 6.6 3.3 5.1 8.5 7.7 6.8 3.3 -8.2 9.5 7.4 7.2 3.3 3.2 4.5 7.3 7 .? 3.3 7.4 15.6 5.1 7.5 3.3 5.4 10.4 9.2 132.5 21.1 26.7 84.0 .6 143.0 22.0 29.2 90.8 167 . 7 25.8 35 ,6 103.5 2.5 138.7 20.7 31.1 87.5 -.6 159.0 22.3 33.1 99.8 3.9 164.9 25.3 35.1 101.9 2.7 172.5 26.7 37.2 106,1 2.5 174.2 29.2 37.9 106.1 1.0 182.6 29.6 40.8 1.1 140.9 19.6 30.6 90.5 .1 186.3 32.4 40.6 113.9 1.4 194.1 G R O S S INV. IN T A N G I B L E A S S E T S 33.4 NONFARM HOMES 41.4 NONCORP BUS.CONSTR ♦ EQUIP. 118.4 CONSUMER DURABLES .9 INVENTORIES 18 19 20 21 22 23 24 25 26 95.3 8.3 19.6 67.4 104.5 8.7 21.3 74.6 112.2 9.0 22. 6 80.6 121.2 9.4 24.5 87.3 115.2 9.1 23.0 •3.1 117.8 9.3 23.7 84.8 119.9 9.3 24.2 86.4 122.3 9.4 24.8 88.1 124.8 9.5 25.4 90.0 127.1 9.6 25.8 91.7 131.3 26.8 93.5 131.6 9.8 26.5 95.3 CAPITAL CONSUMP. ALLOWANCES NONFARM HOMES NONCORP.BUS. PLANT ♦ EQUIP. CONSUMER DURABLES 23 24 25 26 27 28 29 30 31 37.2 12.8 7.1 16.7 •6 38.5 13.3 7.9 16.2 1. 1 28.7 10.6 8.1 9.9 .1 46.4 16.5 11.3 16.2 2.5 23.5 11.6 8.1 4.4 -.6 41.2 12.9 9 .4 15.0 3 .9 45.0 16.0 11.0 15.5 2.7 50.1 17.3 12.4 18.0 2.5 49.3 19.7 12.5 16.2 1.0 55.4 20.1 15.0 19.3 1.1 57.0 21.5 13.8 20.4 1.4 62.5 23.6 14.9 23.1 .9 N F T INV. IN T A N G I B L E A S S E T S NONFARM HOMES NONCORP BUS.CONSTR.* EQUIP CONSUMER DURABLES INVENTORIES 27 28 29 30 31 32 33 34 35 36 37 38 43.3 14.9 6.6 11.1 2.1 1.3 41.6 16.2 6.9 9.3 -2.5 2.6 9.0 32.8 12.5 8.0 4.3 -1.9 2.3 7.5 59.6 24.5 11.3 10.4 2.1 1.0 10.3 32.8 12.9 9.6 .4 1.3 1.6 7.1 40.7 13.9 10.2 4 .0 1 .8 .9 9 .8 5 9.0 23.4 11.3 9.* 3.t .9 11.4 64.2 29.1 12.2 12.6 .6 1.1 8.7 73.7 31.7 11.4 14.5 3.0 1.0 12.2 76.6 27.5 12.6 13.9 8.2 .7 13.6 86.2 37.0 13.1 17.5 6.9 1.3 10.3 93.1 41.8 13.5 18.6 6.3 1.0 12.0 I N C R E A S E IN D E B T MTG. DEBT ON NONFARM HOMES N O N C O R P BUS. MTG. DEBT CONSUMER CREDIT SECURITY CREDIT POLICY LOANS OTHER DEBT 32 33 34 35 36 37 38 I N D I V I D U A L S A V I N G (1*27-32) LESS- GOVT.INS* PEN RESERVES N E T INV, IN C O N S . D U R CAPITAL GAINS DIVIDENDS F R O M INVEST. COS. NET SVG. BY FAR M CORPS. EQUALS PERS SAVING* F/F BASIS P E R S O N A L SAVING* NIA BASIS D I F F E R E N C E (44-45) 39 40 41 i • l i 1 "4 1 ♦ 1 68.5 5.3 60.2 111.0 1.1 11.0 39 40 41 66.3 6.0 16.7 59.6 6.6 16.2 82.9 9.2 9.9 83.1 9.6 16.2 79.2 8.8 4.4 88.5 10.3 15.0 85.1 10.8 15.5 76.5 8.5 18.0 81.7 9.5 16.2 81.9 4.5 19.3 96.9 15.6 20.4 94.2 10.4 23.1 42 43 44 45 46 2.5 • 41.2 39.8 1.4 2.5 • 34.2 38.2 -4.0 .9 -.2 63.1 54.8 • 56.5 60.9 .8 8.2 - 4 .b -.4 -.2 66.6 59.2 7.4 .1 -.1 63.2 59.3 3.9 1.2 -.1 57.6 64.1 -6.5 1.2 • 48.8 61.0 -12.2 .6 • 55.4 59.3 -3.9 1.0 • 57.0 55.7 1.4 1.4 • 59.4 50.2 9.2 1.2 .1 59.4 51.3 8.2 FOR HOUSEHOLDS* ( I )C O M B I N E D 1 1 1 / 7 2 IS B A S E D ON P R E L I M I N A R Y A ND INCOMPLETE INFORMATION. STATEMFNT FARM* AND INCR. IN F I N A N C I A L CURR. AND DEMAND SAVINGS ACCOUNTS ASSETS DEPOSITS PVT. L I F E INS. R E S E R V E S PVT. INSURED PEN. RESERVES PVT. N O N I N S U R E O PEN. RES. G O V T . INS. ♦ PEN. R E S E R V E S MISC. f i n a n c i a l a s s e t s NONFARM NONCORPORATE BUSINESS 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 42 43 44 45 46 7 N O V E M B E R 1972 DISCREPANCIES DISCWANtlET D I S C R E P A N C I E S - S U M M A R Y FO R S E C T O R S ( M I L L I O N S OF D O L L AR S) SEASONALLY ADJUSTED ANNUAL YEAR 1969 TOTALS 1970 7.7 -1.4 10.3 -1 .1 -.5 .ft 18.5 3.9 12.b 2.1 -2.0 .4 .4 7 8 9 -.2 .6 2.0 .9 10 11 12 13 14 15 16 -.9 .1 .3 -.1 -.8 -.5 .2 1. 1 .1 .1 • .1 .4 2.3 -M. 1 f> * 9 3 . ft -1.0 SEASONALLY 19 7 0 | IV I 17.3 4.6 19.a I -10.8 .7 6.6 -0.4 10.0 2.0 -1.9 -1.7 11.7 -3.0 12.3 4.3 -4.1 1.7 11.6 6-3 11.4 3.2 -9.1 2.9 25.8 1 1 .6 2ft.7 4.8 -20.1 .8 20.2 3.4 28.6 1 .1 -9.9 -2.7 17.7 -1.4 9.1 7.3 3.3 1.3 -2.1 -9.2 13.9 1.5 -4.3 -1.2 2.9 -9.2 14.4 4.0 -5.5 -.7 .s 1.0 -.3 # .3 6. 7 * 1 .6 .5 • .9 -3.0 • -.2 1.9 .2 -.4 * .1 -1 .9 • .6 -2.8 .6 -1.1 .3 -.5 .1 - .b « .2 .1 -1.2 -.1 -1.1 * .3 -2.8 -.3 .b -.6 -.4 -.4 -1.9 1.7 -1.3 .7 1.0 -.5 .1 1.7 -.5 .4 5.1 .1 .9 1.1 .8 -.2 2.4 -.3 1.3 .4 -.6 .1 -1.7 -.5 2.1 -2.5 1.1 .5 -1.8 -1.4 -.5 -.5 -3.4 -.1 1.0 -1.1 -.4 -.5 -2.3 -1.4 -1.0 .6 -.7 -1.1 -.6 1.4 25.8 .1 20.2 • 17.7 -.4 -2.1 -.1 2.9 -.1 3.4 7.7 .2 18.3 .2 2.3 -.1 -.9 -1 .8 .9 -.4 17.3 4» 6.7 « -.1 .8 * 1.6 -.8 .8 .8 -.1 .1 1.7 -.3 1.3 1.2 1.8 1 .1 2.2 1.5 3.0 11.7 -.1 11.6 « 3 4 .4 .2 -.6 .4 5 6 7 8 -3.7 .7 7.1 2.7 -2.9 .1 15.2 5.9 -.1 1.7 -S.O 4.7 1.0 2.4 H.5 4.6 1.5 3.6 « • -1 .8 2.3 7.0 4.2 .5 3.5 2.4 4.6 .9 1.3 16.7 5.0 4.3 2.6 8.4 3.8 -4.9 .6 14.5 4.9 -5.9 .2 -.2 .4 -2.5 1.4 -2.6 2.1 9 10 11 12 -2.7 « « * -6.1 * • -.1 -4.7 * « .1 -4.5 .1 * .2 -1.0 .7 .3 * -3.2 -.8 -.2 « -4.8 .4 -.2 * -5.5 .5 .1 • -4.3 .2 .3 - -4.9 • -.5 • -2.1 * 13 2.7 5.9 4.7 0.6 » 4.2 4.6 5.0 3.8 4.9 *4 2.1 14 -3.7 -2.9 - .1 .9 .4 .7 1.2 1.2 .7 -3.7 15 16 17 18 • • « .1 -2.5 ~ * •1 * -.3 1.4 » • - .1 « -.6 - -.3 - -.2 3.8 - -.1 -l.l - -3.7 -2.9 1.5 -1.8 .5 .9 4.3 -4.9 19 111/72 - IS RASED • -.1 ON P R E L I MINARY .1 • 1.0 AND INCOMPLETE ANNUAL RATES T O T A L # ALL S E C T O R S HOUSEHOLDS CORPORATE BUSINESS STATE ♦ LOCAL GOVTS. FOREIGN u. s. 1 2 3 4 5 6 government FINANCIAL SECTORS MONETARY a u t h o r i t COMMERCIAL BANKS 7 8 9 ies NONRANK FINANCE SPONSORED AGENCIES SVGS ♦ LOAN ASSNS. MUTUAL SVGS BANKS, LIFE INSURANCE other 10 11 12 13 14 15 16 insurance FINANCE N.E.C. DISCREPANCIES • 1.1 - ADJUSTED 1972 II DISCREPANCIES TRANSACTION 1 2 TRANSACTIONS »ATFS SECTOR 1 2 3 4 5 6 AN D INFORMATION. - - 6.5 -2.8 -.3 -1.0 1.3 - • 9 - 5 .9 - 2.5 TOTAL t ALL TYPES TREASURY CURRENCY D E M A N D DEPOSIT MAIL U . S. G O V E R N M E N T 1 2 FLOATS! 3 4 other TRADE CREOIT taxes p ayable S 6 7 8 MISCELLANEOUS NONFINANCIAL NONFINANCIAL COMPONENTS GNP DISCREPANCY (NEG*) NONFARM NONCORP DISCREP) FARM DISCREPANCY TRADE DEBT (POSITIVE) TOTAL NONFINANCIAL (NE6. (N£6. 9 10 11 12 DISCREPANC 13 TRADE CREDIT ANALYSED FIRST ESTIMATE TO W H I C H IS A D D E D — BANK LOAN DISCREPANCY AD HOC A D J U S T M E N T BALANCE ADJUSTMENT SEASONAL TOTAL TRADE CREDIT— FINAL 14 15 16 17 18 19 '*