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F/F Unadj IE /7 3 Lit y November 7, 1973 Flow of Funds, Unadjusted 3rd Quarter, 1973 Preliminary Division of Research and Statistics Board of Governors of the Federal Reserve Sys Washington, D.C. 20551 TABLE LIST SUMMARY TABLES 1 . Funds Raised in Credit Markets Private Domestic Net Investment and Borrowing in Credit Markets 2 . Credit Market Supply of Funds SECTOR TABLES • 3. Households 4. Total Nonfinancial Business & Noncorporate Business 5. Corporate Business 6 . Governments 7. Banking System S . Commercial Banking Subsectors 9. Nonbank Finance Summary Savings Institutions 1 0 . Insurance Companies and Pension Funds 1 1 . Finance N.E.C. 1 2 . Rest of the World ® • TRANSACTION TABLES 13. Monetary and Insurance Reserves Interbank Claims 14. Money and Deposits 15. U.S. Government Securities 1 6 . Private Securities and Mortgages 17. Mortgages by Type 18. Consumer Credit and Bank Loans N.E„C. 19. Other Loans, Including Open-Market Paper 2 0 . Security Credit, Trade Credit, and Taces 21 - 2 2 . ® ® Miscellaneous Financial Claims 2 5 . Total Claims--Recapitulation by Type 24. Saving by Individuals ^ " Not Seasonally Adjusted Flow of Funds Accounts, Third Quarter 1973 These tables present first estimates of third quarter flow of funds data together with revisions for the first two quarters of 1973, Earlier data are unchanged from the August 17 publication except in a few cases noted on the next page. Revisions for the first two quarters of the year reflect the usual source information, listed in the following paragraph, that are not available for first preliminary esti mates, In addition, they include sizable revisions of commer cial banking data, both assets and liabilities, that reflect June 30 banking totals for bank Call Report tabulations. These banking revisions are larger than usual and affect many items in financial flows throughout the tables. Third-quarter figures are based on early indicators and are therefore highly tentative, particularly in the distri bution 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, hou s e hold investment in securities, and distribution of liquid assets as between households and business. Also missing at the time the accounts were put together were balance of payments statistics, final income-and-product data, endof-quarter balance sheets for insurance companies, mutual savings banks, pension funds, and investment companies, and the Treasury survey of ownership of Federal securities. Requests for seasonally adjusted and for historical annual tables 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. 7. NOVEMBER 1973 CREDIT MARKET SUMMARY CREDIT MARKET SUMMARY 1 TOT#L UNAOJUSTED 1971 QUARTERLY 1972 FUNDS RAISED IN C R E D I T M A R K E T S B Y N O N F I N A N C I A L (MILLIONS OF DOLLARS) FLOWS I I 1 QU ARTERLY FLOWS UNADJUSTED 1971 III II SECTORS I. IV FUNDS I I 1*72 I RAISEO* BY II TYPE AND III IV I I J 1q 73 II III SECTOR 1 2 146,698 134,970 166.115 156.131 38,377 34,788 41.434 37.631 46,649 44,166 26,975 24.886 37,027 33,898 39,256 36,780 62,857 60,567 46,525 44,289 47.144 44.97? 37,390 36.666 TOTAL FUNDS RAISED BY NO NF IN AN CI AL SECTORS EXCLUDING EQUITIES I 2 3 4 5 25.500 26,023 -523 17.317 13,919 3,398 1.820 1,876 -56 9.603 9,536 67 12,503 12.311 192 4.293 3.725 568 -5.651 -6,012 361 5,738 4,596 1,142 12.937 11.610 1,327 8.839 8.201 638 -5.92? -5.941 19 -421 -1.141 720 U.S. GOVERNMENT PUBLIC DEBT SECURITIES BUDGET AGENCY ISSUES 3 4 5 6 7 8 121,198 11.728 109,470 148.798 9,984 138,814 36,557 3,589 32,968 31,831 3,803 28,028 34.146 2.483 31.663 22.682 2.089 20.593 42,678 3,129 39,549 33,518 2,476 31,042 49,920 2,290 47,630 37.686 2.236 35.450 53.066 2.172 50.894 37,811 724 37,087 ALL O T HE R NO N F I N A N C I A L CORPORATE EQUITIES DEBT INSTRUMENTS 6 7 8 9 10 11 12 13 14 15 16 83.1*4 16,626 19.747 46.811 26.048 8.772 9.980 2.011 92.429 11,930 13,213 67,286 39,657 10,268 14,781 2,580 21,740 4,447 5,667 11.626 6.457 2.440 2.266 463 21,983 3,909 3,895 14.179 8.502 2.183 2.943 551 21.831 3.204 4,437 14,190 8,070 2,519 3,158 443 19.280 3.615 3.258 12.407 6.942 1,925 2,906 634 24,015 2.975 4.234 16.806 10.013 2,435 3,491 867 24,762 3,053 2,909 18,800 11,650 2,514 4,001 635 24,372 2,287 2,812 19,273 11,052 3,394 4,383 444 18.415 1,529 1,737 15,149 8,206 2,824 3.119 998 27.386 2.837 3.573 20.976 11.610 4,060 4,027 1.279 23.843 978 2,038 20,827 11.576 3.446 4,629 976 DEBT CAPITAL INSTRUMENTS S. ♦ L. G O V E R N M E N T S E C S * CORPORATE ♦ FOREIGN BONOS MORTGAGES tfOME M O R T G A G E S OTHER RESIDENTIAL COMMERCIAL FARM 9 10 11 12 13 14 15 16 17 18 19 20 21 26.286 9.313 11.231 -894 6,636 46,385 21,777 19,170 -1,565 7,003 11.228 6,430 3,693 -1.181 2.286 6.045 2,033 3,632 920 -540 9,832 4,732 5,426 -1,810 1,484 1,313 -1,068 -515 485 2.411 15,534 8,240 5,933 -127 1,488 6,280 1.356 5.164 -1.063 823 23,258 13,249 8,588 -860 2,281 17.035 13.879 1.756 -1.724 3.124 23.508 13.079 7.763 519 2.147 13.244 5.783 5.952 826 683 OTHER PRIVATE CREDIT BANK LOANS N.E.C. 17 18 19 20 21 22 23 24 25 26 27 28 29 30 121.198 109.470 5.698 16.991 38.320 48.461 4,098 8.694 35.669 148.798 138,814 3,844 12.275 63,316 59.379 4,857 10.373 44.149 36.557 32.968 1.560 4.379 11.524 15.505 1.746 2.853 10.906 31,831 28,028 1,885 4.158 10.130 11.855 733 1.976 9.146 34,146 31,663 1,422 3,295 15,984 10,962 243 2,399 8,320 22.682 20.593 988 3.882 7.258 8.465 1.252 951 6.262 42,678 39,549 438 2,672 17.757 18.682 2,119 3,251 13,312 33.518 31.042 438 3.179 15.643 11.782 587 2.332 8,863 49,920 47,630 1,980 2,542 22,658 20,450 899 3,839 15,712 37.686 35.450 3.463 1.603 11.214 19,170 2,013 2,664 14,493 53.066 50.894 1.831 2.787 21,270 25,006 2.847 3.739 18.420 37.811 37,087 -655 928 18.182 18.632 1.577 3.647 13.408 31 32 33 11.728 27 11.701 9,984 -412 10,396 3.589 109 3.480 3.803 -7 3.810 2,483 -149 2,632 2.089 -46 2.135 3.129 -76 3.205 2,476 -81 2,557 2,290 -209 2,499 2,236 -166 2,402 2.172 -39 2.211 724 -50 774 34 35 36 5.725 60,162 47.370 3,432 69,775 54,545 1.669 18.985 14,386 1,878 15,665 12,956 1,273 13,594 10,952 942 10.600 8.397 362 21.887 16,517 357 14,339 11.420 1.771 22.949 18.211 3,297 21,572 16.895 1.79? 27.217 20.631 -705 19.406 14.182 37 3.194 499 4.316 1.267 1.258 -2.623 1,711 27 1.384 2.268 38 39 143.504 22.306 165,616 16.818 34.061 -2.496 40.167 8.336 45.391 11.245 29.598 6.916 35,316 -7,362 39,229 5,711 61.473 11.553 44.257 6.571 t ot al s PRIVATE OOMESTIC NET INVESTMENT ANOi B O R R O W I N G IN CREDIT c o n s u m e r c re oi t OPEN-MARKET OTHER BY SECTORS PAPER BORROWING SECTOR* DEBT INSTRUMENTS FOREIGN STATE ♦ LOCAL GOVERNMENTS HOUSEHOLDS NONFINANCIAL BUSINESS FARM NONFARM NONCORPORATE CORPORATE 22 23 24 25 26 27 26 29 30 CORPORATE EQUITIES FOREIGN CORPORATE BUSINESS 31 32 33 TOTALS INCLUDING FOREIGN NONFINANCIAL CORPORATE EQUITIES 34 35 36 BUSINESS -377 -5.064 MEMOS U.S. GOVT. CASH BALANCE N E T O F C H A N G E S I N U . S . 6 0 V T . CASH BA LA N C E S — 47.521 42,454 TOTAL FUNDS RAISED -5.545 4.643 BY U.S. GO VE RN ME NT MARKETS TOTAL* HOUSEHOLDS ♦ BUSINESS 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) NET PHYSICAL INVESTMENT 1 252.501 2 178.972 73.529 3 291.110 193.444 97.666 64,556 44,296 20,260 61,920 45,134 16,786 69,539 45.953 23,586 63.816 46.761 17.055 73,595 48,378 25,217 72,373 48,502 23.871 81,326 49.803 31.523 74,847 50,848 23,999 84.001 51.925 32.076 81.840 52.938 28.902 4 5 98.482 -24,953 133.091 -35.425 30,509 -10,249 25,795 -9.009 29,578 -5,992 17.858 -803 39,644 -14,427 29.982 -6.111 45.607 -14,084 32,786 -8.787 48.487 -16.411 37.568 -8.686 NET FUNOS RAISED EXCESS NET INVESTMENT 6 7 8 116.565 80.278 36.287 133.345 87.564 45.781 31,575 19,844 11.731 28,178 20,240 7,938 29,230 20.631 8.599 29.700 21.057 8.643 35,278 22,048 13,230 33.154 21.923 11.231 35,213 22,536 12,677 34,549 22,937 11,612 39.662 23.390 16.272 38.127 23.755 14.372 TOTAL BUSINESS TOTAL CAPITAL OUTLAYS CAPITAL CONSUMPTION NET PHYSICAL INVESTMENT 9 10 11 48.461 11.701 -23.875 59,379 10,396 -23,994 15,505 3,480 -7,254 11,855 3,810 -7,727 10,962 2,632 -4,995 8.465 2.135 -1.957 18.682 3.205 -8.657 11.782 2.557 -3.108 20,450 2,499 -10,272 19,170 2,402 -9,960 25.006 2.211 -10.945 18.632 774 -5.034 12 13 14 86.745 57,686 29.059 100,660 62,818 37,842 23,549 14.284 9.265 20,147 14,551 5,596 22,638 14,798 7,840 22.351 15.120 7.231 26,516 15,784 10,732 24,529 15,725 8,804 27,264 16,189 11,075 25,755 16,482 9.273 29.560 16.763 12.797 28.189 17.091 11,098 15 16 17 35.669 11.701 -18.311 44,149 10,396 -16.703 10.906 3.480 -5,121 9,146 3,810 -7,360 8,320 2,632 -3,112 6.262 2.135 -1.166 13.312 3.205 -5.785 8,863 2,557 -2,616 15,712 2,499 -7,136 14.493 2.40 2 -7.622 18.420 2.211 -7.834 13,408 774 -3,084 18 19 20 135.936 98.694 37.242 157.765 105,880 51.885 32,981 24.452 8.529 33,742 24,894 8,848 40,309 25,322 14.987 34.116 25.704 8.412 38,317 26,330 11,987 39,219 26,579 12,640 46.113 27.267 18.846 40.298 27,911 12,387 44,339 28,535 15,804 43,713 29,183 14,530 21 22 38.320 -1.078 63.316 -11,431 11.524 -2.995 10.130 -1,282 15.984 -997 7.258 1.154 17,757 -5,770 15,643 -3,003 22.658 -3,812 11,214 1.173 21,270 —5.466 18,182 -3.652 23 24 25 26 -6.701 4.784 2.573 1.734 -14,294 4,464 2,701 4,302 -2.138 658 654 2.169 -2,270 -484 716 -756 -1.995 2.109 664 1.775 -2.357 2.475 552 -484 -4,394 372 682 2,430 -3,988 205 714 -66 -3,555 1,412 753 2,422 -2.567 3.003 564 -173 -4,458 803 720 2.531 -2.476 -21 795 1,950 (3) NET DEBT FUNDS RAISED CORPORATE EQUITY ISSUES E X C E S S N E T I N V E S T M E N T (3) CORPORATE BUSINESS TOTAL CAPITAL OUTLAYS CAPITAL CONSUMPTION NET PHYSICAL INVESTMENT NET DEBT FUNDS RAISED CORPORATE EQUITY ISSUES E X C E S S N E T I N V E S T M E N T (3) HOUSEHOLDS TOTAL CAPITAL OUTLAYS CAPITAL CONSUMPTION NET PHYSICAL INVESTMENT NET FUNDS RAISED E X C E S S N E T I N V E S T M E N T (3) OF WHICHl HOUSES LESS HOME MORTGAGES OURABLES LESS CONS. CREDIT NONPROFIT P*E LESS MORTGAGES LESS! UN A L L O C A T E D DEBT (1) CAPITAL OUTLAYS ARE TOTALS FOR RE SI DE NT IA L AND NO NR ES ID EN TI AL F I X E 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 * EXCE PT OUTLAYS BY FI NA NC IA L B U SI NE SS , (2) CAPITAL CONSUMPTION INCLUDES AMOUNTS FOR CONSUMER DURABLES AND EXCLUDES FINANCIAL BUSINESS CAPITAL CONSUMPTION, (3) EXCESS 111/73 FIGURES ARE TE NT AT IV E ES TI MA TE S BASED ON INCOMPLETE INFORMATION, 37 38 39 OF NET INVESTMENT OVER NET FUNDS RAISED, 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 CREDIT M A R K E T SUPPLY OF FlJNns CREOIT MA RK ET SUPPLY OF FU&IDS 2 DIRECT UNADJUSTED QUARTERLY 1 1972 134.970 156.131 I N DI RE CT S O U R C F S OF F U N D S ( M I L L I O N S OF D O L L A R S ) FLOWS UNADJUSTED 1971 AND , II | 34.788 III 3 7 .f>31 IV | 44.166 19?2 I 24.886 CREDIT III 36.780 IV 60.567 MARKETS 2 QUARTERLY^FLOWS , II 33.898 TO 1971 I I 44.289 II III TOTAL FUNDS 36.666 44.97? 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 8Y 2 3 4 5 6 41.287 33,417 5.656 -2.679 4.893 16,894 7.328 5.228 43 4.295 8.286 7.227 1.395 -P . 449 2.113 13.410 9.782 2.045 39b 1.187 9.5^0 7.851 1.762 299 -332 5.484 4.510 1,537 -1 . 9 4 4 1 ,381 3.449 1.375 1.278 83 713 4,783 1.801 1.259 661 1 .062 3.178 -358 1.154 1 .243 1.139 15.916 11.777 975 441 2.723 4.612 -1.336 1.247 2.725 1.976 8.131 -629 3.399 3.153 2.208 7 8 9 10 3.222 2.802 8.848 26.415 2.313 6.013 184 8.384 956 -1.136 1.101 7.365 626 1.31b 2.108 9.360 444 2.397 3.359 3.380 820 1.853 -184 2.995 -53 1.624 1.629 249 1.056 300 -1.718 5.145 490 2.236 457 -5 471 3.113 4.127 8.205 -237 5.859 1.179 -2.189 1.063 7.022 489 -443 11 4.296 6.182 313 2.017 1 .455 1 .392 2.115 1.083 1 .592 2.684 5.874 7.605 PUBLIC 97.* 9 7 9 -3,, 5 4 9 16., 6 2 6 19., 4 7 5 29., 0 9 2 33., 6 5 6 -2., 6 7 9 145,, 4 1 9 16,, 2 5 7 11.. 9 3 0 13,. 1 6 9 44,. 6 11 59,. 4 9 5 43 26., « 1 5 -5., 0 7 4 4., 4 4 7 5. ,731 7., 4 8 2 11., 7 8 0 -?. , 4 4 9 26,. 2 3 8 1,. 8 5 6 3,. 9 0 9 3,, 7 4 4 8,. 6 2 2 8,. 5 0 3 3^6 36. ,5 4 1 6,,6 2 1 3., 2 0 4 4., 4 1 6 8., 8 1 3 13., 7 8 6 299 20,. 7 9 4 1,. 1 9 4 3,. 6 1 5 3,. 1 8 9 7,. 3 1 1 3,. 5 4 1 -1«. 9 4 4 32., 5 6 4 -4,, 8 8 7 2,, 9 7 5 4,, 2 0 9 11., 1 4 6 19,, 2 0 4 83 33.,0 8 0 5.,0 41 3., 0 5 3 3.,0 51 12., 8 8 4 9., 7 1 2 661 58.981 14.909 2.287 2.720 13.270 27.038 1.243 31.057 -233 1.529 1.677 10.036 18.489 441 46.234 1.311 2.837 3.486 14.400 26.925 2.725 36.140 7.834 978 1.905 11.602 16.974 3.153 1 ♦ FOREIGN TOTAL NET AD VA NC ES U.S. G O V E R N M E N T SE CU R I T I E S RESIDENTIAL MORTGAGES FHLB AD VA NC ES TO S*L'S OTHER LOANS ♦ SECURITIES BY A G E N C Y ? U.S. g o v e r n m e n t SPONSORED CREDIT AGENCIES MONETARY AUTHORITIES FOREIGN AGENCY B O R R O W I N G NOT INCLUDED IN L I N E 1 PRIVATE 12 13 14 15 16 17 18 AGENCIES DOMESTIC FUNDS FINANCIAL 19 20 21 22 23 111.394 50.592 41 .4 51 14.061 5.290 150.191 69.711 48.660 15.997 15.823 31.882 17.277 11.666 2.714 225 21.216 7.363 9.724 3.723 406 41.331 ? 3 •348 8.655 4.087 5.241 22.385 4.997 12.382 3.736 1 .270 35.545 16.919 12.251 3.374 3.001 36.828 15.220 13.148 5.129 3.331 55.433 32.575 10.879 3.758 8.221 37.557 17.019 13.606 6.313 619 49.893 27.443 11.816 5.288 5.346 31.689 14.926 7.020 6.691 3.052 24 25 26 111,394 90.821 9.249 150.191 97.828 20.207 31.882 23.897 -35 21.216 11.389 2.610 ul.331 ^3.672 5.587 22.385 18.729 4.042 35.545 22.574 3.871 36.828 20.668 4.906 55.433 35.857 7.388 37.557 19.320 8.497 49.893 26.078 9.634 31.689 12.317 8.205 S O U R C E S OF F U N D S PRIVATE DOMESTIC DEPOSITS CREDIT MARKET BORROWING 27 28 29 30 31 11.324 -3.238 2.231 9.616 2.715 32.156 5.073 706 11.263 15.114 8.020 -611 3.892 1 .774 2.965 7.217 1 .462 5^8 2.808 2.439 2.072 -903 1 .249 3.030 -1.304 -386 837 -1.429 1.222 -1.016 9.100 1.731 343 2.894 4.132 11.254 1.737 387 4.137 4.993 12.188 768 1 .405 3.010 7.005 9.740 189 515 4.219 4.817 14.181 2.14? -956 3.961 9.034 11.167 975 -2.224 3.992 8.424 32 33 34 35 36 37 -4., 1 6 6 -12.,958 -80 8.. 1 7 2 -633 1,. 3 3 3 15,, 4 3 5 4,,1)78 2,,141 4,,851 3., 7 3 8 627 -5.,102 -3,, 2 1 9 -705 2., 9 1 3 - 3., 7 3 5 -356 797 -889 -867 -20 290 2.. 2 8 3 2,,4 51 -369 798 2., 2 8 0 1., 8 6 4 -2., 1 2 2 890 -2,, 7 9 4 ^64 1., 0 3 7 2., 0 5 3 330 1., 1 5 8 1., 8 6 2 352 1., 1 9 8 -2., 4 6 3 209 10.936 5.379 7?7 336 2.284 2.210 1 .997 2.770 570 624 -370 -1.597 5.975 2.225 77? 1 .28fi 727 963 12,656 8,849 385 1,062 1.855 505 DIRECT 38 39 40 41 42 94,. 2 1 3 81,. 2 1 5 7,. 6 6 4 32,. 9 3 4 4 0 ,. 6 1 7 102,. 2 4 0 85,. 7 1 2 8,. 7 1 0 31,. 0 2 5 45,. 9 7 7 25,. 5 8 2 17,. 1 3 4 122 5,. 8 3 8 11 ,. 1 7 4 36,. 3 7 8 19,. 7 7 4 1,. 9 1 8 8 ,. 7 6 7 9,. 0 8 9 17,. 6 7 9 24,. 1 4 4 -1 ,. 5 5 5 11.. 4 0 0 14,. 2 9 9 25,. 5 8 8 20,. 8 4 6 2,. 6 11 7,, 1 61 11,. 0 7 4 19,, 2 0 2 20,. 2 9 7 5,. 3 8 3 4,. 5 7 6 10,. 3 3 8 39.771 20.425 2.271 7.8A8 10.266 17.924 30.627 9.847 8.821 11.959 29,726 19,614 3.778 7.233 8.603 10.992 15.141 9,240 4,805 1,096 DEPOSITS .783 .065 ,176 .542 43 44 45 12,. 9 9 8 9,. 6 0 6 3,. 3 9 ? 16,. 5 2 8 12,. 1 1 6 4,, 4 1 2 8,, 4 4 8 6,. 7 6 3 1 ., 6 8 S -3,. 4 2 1 -3,, 3 9 4 -27 16,. 6 0 4 !3,, 8 9 8 2,. 7 0 6 -6,. 4 6 5 -5,, 4 1 5 -1.. 0 5 0 4,, 7 4 2 1 ,, 7 2 8 3,, 0 1 4 -1,. 0 9 5 371 -1 ,. 4 6 6 19.346 15.432 3.914 -12.703 -11 .307 -1.396 10.11? 6.464 3.64fl -4,149 -2,824 -1,325 46 90,. 0 4 7 117,, 6 7 5 2 0 ,>4 H 0 . 994 18 , <7,. 1 7 5 2 0 ,, 1 3 0 26,, 4 7 8 20,. 3 6 0 50.707 19.921 35,701 23,648 47 48 49 30,, S « 9 113,.6 91 23,. 1 7 7 10,. 8 2 0 1 0 3,,2 81 13,, 4 5 7 23, ,fll8 life,, 8 9 6 6,, 7 5 4 3 b ,. 635 ,\ ,. 69 0 22, ,036 10 7.,6 5 1 3., 8 3 2 1 0 ,. 1 7 4 13,. 0 0 4 111. . 3 3 0 6,, 8 8 2 5.247 93.984 763 35*. 9 3 6 120.929 8.394 10,255 107,914 -47 22,175 87.684 532 PPIVATE 11 14 4 3 7 .362 OTHER SOURCES FOREIGN FUNDS TREASURY BALANCES INSURANCE ♦ PENSION OTHER* NET DOMESTIC u.s. 113,, 1 0 8 2,. 4 7 7 CORPORATE- E Q UI TI ES 109,, 1 5 4 1,. 9 8 0 NOT INCLUDED g o v e r n m e n t ♦ 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 INVESTORS CR. MARKETS s e c u r i t i e s 32 33 34 35 36 37 38 CURRENCY TIME ♦ SAVINGS ACCOUNTS LA RG E NE G O T I A B L E CD»S O T H E R AT C O M M E R C I A L BA NK S AT S A V I N G S I N S T I T U T I O N S 39 40 41 42 MONEY OEMANO DEPOSITS CURRENCY 43 44 45 of c r e di t MENTS* m ar ke t DEPOSITS ♦ i ns tr u CURRENCY P U B L I C S U P P O R T H A T E (*) PVT. FINAN. IN T E R M E D I A T I O N TOTAL FOREIGN FUNDS <*> 46 47 48 49 ABOVF 1 2 3 14.660 1.181 13,479 11,973 -633 12,606 3,700 -348 4,048 4,453 216 4 .? 3 7 3.715 832 2.883 2.910 273 2.637 3.311 -679 3.990 2.739 -229 2.968 3.013 2 3.011 2.491 -338 2.«?9 2.325 -478 2.803 1.063 -237 1.300 4 5 19,235 -4,575 15,562 -3.589 5.374 -1 . 6 7 4 3.755 698 4.911 -1.196 2.923 -13 4.668 -1.357 2.119 620 5.852 -2.839 1.527 964 3.411 -1 . 0 8 6 2.484 -1.421 111/73 FIGURES ARE TENTftTTVF ES TI MA TE S BASED ON INCOMPLETE INFORMATION. IN RES. STATE ♦ LOCAL OBLIGATIONS CORPORATE ♦ FOREIGN BONDS COMMERCIAL PAPER OTHER t ot al 80,. 8 5 9 10,. H ? 2 NONFINANCIAL LENDING 11 INTERMEDIATION CREDIT MARKET FUNDS ADVANCED BY P R I V A T E F I N A N C I A L INSTS. COMMERCIAL BANKING SAVINGS INSTITUTIONS IN SU RA NC E ♦ PE N S I O N FUNDS OTHER FINANCE 7,, 6 3 2 734 1,. 5 7 1 2,. 8 8 9 2,. 1 0 7 331- 7 8 9 10 ADVANCED TOTAL NET ADVANCES U.S. GO VE R N M E N T SECURITIES STATE ♦ LOCAL OBLIGATIONS CORPORATE ♦ FOREIGN BONDS RESIDENTIAL MORTGAGES OTHER MORTGAGES ♦ LOANS LESS: FHLB A D VA NC ES PRIVATE 2 3 4 5 6 TOTAL NET ISSUES MUTUAL FUND SHARES OTHER EQUITIES 1 2 3 ACQ. BY F I N A N C I A L I N ST IT UT IO NS OTHER NET PURCHASES 4 5 7 NOVEMBER 197 3 HOUSEHOLDS HOUSEHOLDS 3 SECTOR ST ATEMENTS OF SAVING AND INVESTMENT (MILLIONS OF DOLLARS) UNADJUSTED QUARTERLY UNADJU ST ED q u a r t e r l y FLOWS FLOWS II IV HOUSEHOLDS* 1 863.515 2 117.545 3 4 1 973 19/2 m i I i InI I I PERSONAL II TRUSTS. III AND IV NONPROFIT I I 11 ORGANIZATIONS 939.161 142.205 P14.205 31.571 219.082 30.601 230.737 29.602 216.968 29.462 230.911 40.708 237.470 37.143 353.812 34.892 238.001 31.961 254.274 40.434 263.221 40.877 745.^70 796.956 6 8 5 . HI 1 7 4 7 . 2 1 2 182.634 170.484 2nl.l35 l«b.304 15,831 1,871 389 7,535 187.506 170.889 16.617 1.082 505 1.960 190.203 185.188 5,015 4.707 84 6,305 200.327 186.939 13.388 2.172 111 5.369 218.920 204.196 14.724 2.523 720 10.000 206.040 213.840 222.344 190.171 205.287 20 7. 49 6 -848 1 5 . 8 6 9- - -8 . -5 5-3 - 1- 4 . 1.597 1.756 5.309 167 485 300 5.931 4.759 6.566 PERSONAL INCOME - PERSONAL TAXES 5 6 7 8 60.159 9.738 776 16.015 49.744 10.484 1 . 420 23.634 12,150 3,602 33 4,351 9 10 11 8 6 , ,688 9 8 , ,6 94 1 8 5 , ,3 82 85.282 20,136 24,452 44,588 22,478 24.894 47.372 25.626 25,322 50.948 20,164 25,704 45,868 16,111 26.330 42.441 21.040 26.579 47.619 27.967 27.267 55.234 22.869 27.911 50.780 22.728 28.535 51.263 22.543 29.183 51.726 12 13 14 15 16 ,5 38 1 1 3 5 , , 9 36 2 6 , , 8 49 1 0 3 , .491 5., 5 9 6 44,231 32,981 5,525 26,030 1,426 48.643 33.742 7.009 25.234 1 .499 50.565 40.309 8.839 *0.001 1.469 48,205 34,116 7,979 24,772 1 ,365 47,761 38.317 7.370 2 9 .4-10 1.517 52.765 39.219 8.687 28,969 1 ,563 57.550 46.113 10.269 34.238 1 .606 51.962 40.298 9.269 29.606 1.423 57.596 44.339 8.76* 33.991 1,582 51.892 43.713 10.072 31.980 1.661 ROSS INVESTMENT CA PI TA L E X P E N D . - N E T OF SA LE S RESIDENTIAL CONSTRUCTION CONSUMER DURABLE GOODS NONPROFIT PLANT ♦ EQUIP. 12 13 14 15 16 17 18 5 2 ,, 6 0 2 9 4 ,,34 0 11 , 2 5 0 23,875 14.901 25.869 10,256 27,503 14,089 23,663 9.444 29.146 13,546 30,076 11.437 34.644 11.664 22.139 13.257 33.42S 8.179 25.569 ET F I N A N C I A L NET ACQ. OF INVESTMENT FINANCIAL ASSETS 17 18 19 20 72,.0 7 3 10., 8 87 07 . 5 2 1 12 *788 17,800 5,329 19.166 -620 22,094 11,237 19,740 -3,976 22.549 3,258 23,847 1 ,823 31.385 11.683 16.766 -7.939 26.776 6.630 23.004 1.275 D E P . ♦ C R . M K T . I N S T R . (1) DEMAND DEP. ♦ CURRENCY 19 20 21 22 23 70,, 4 5 6 20,,<*39 40,, 6 1 7 75.825 29.848 45.977 15,992 4,818 11,174 13.028 5.486 7.542 15,566 6,477 9,089 21,908 7,609 14,299 18,856 7,782 11,074 19,497 9,159 10,338 15,564 5,298 10,266 22.389 10.430 11.959 17.281 8.678 8.603 11.661 10.565 1.096 TIME AT AT 24 25 26 27 28 29 -9,, 2 7 0 -1 2,,746 -*74 8,,1 72 -3., 8 8 0 58 8.908 4.358 1 ,296 4.851 432 -2.029 -3,521 -3,793 -847 2,913 -1,229 -565 6.758 2,799 1,272 2,889 -382 180 -4,709 -3,065 -1,072 -20 -984 432 1,808 741 2,527 2,270 23 1,198 -893 -71 4,138 578 2,?80 -947 -844 435 -1.083 133 1,037 596 -248 2,430 562 336 1.676 -866 2.316 3.238 496 624 -1.520 -522 2.865 1.488 559 1.28« -5ln 40 10.068 9.019 649 462 -469 407 CRED IT MKT. INSTRUMENTS U.S. GOVT. SECU RI TI ES S. * L. O B L I G A T I O N S CORPORATE ♦ FGN. BONDS COMMERCIAL PAPER MORTGAGES 30 31 1,,1 81 -6,, 5 9 2 -633 -5,224 -348 -1,323 216 252 832 -2,559 273 -979 -679 -843 -229 526 2 -3.928 -338 1 -478 -759 -237 -2.184 32 33 6,. 1 7 2 22,. 0 9 8 7,311) 20.713 1,545 6.623 1,586 4,967 1,578 5,546 1,516 3,139 1.859 7.324 1 ,999 4,764 1.936 5.486 1.935 5.194 1.943 7.506 1.917 4.675 34 35 36 -3,, 4 1 6 520 2 (. 3 0 4 -4.953 118 2.677 -860 -124 562 -777 -100 559 -847 270 5«9 -1,015 348 641 -1,431 -300 667 -1,326 -186 681 — 1 . 1 81 256 688 -1.900 -225 706 -2.065 -207 712 -2.144 -189 727 N E T INV. IN N O N C O R P . SECURITY CREDIT MISCELLANEOUS ASSETS 37 38 39 40 41 42 43 44 41,. 7 3 8 38,. 3 2 0 24,. 1 3 8 .217 1, 9 •231 2 .000 361 1 .373 69.013 63,316 38.423 1,421 16.037 133 2,972 1. 3 3 0 12,625 11,524 5,339 323 3,092 601 1 ,867 302 10.968 10.130 6.924 330 3,379 25 J -1,073 317 17.247 15,984 8,440 343 4,222 1 ,204 1,454 321 9.574 7.258 7,914 343 -38 -477 -805 321 19.702 17.757 9.037 357 5.108 H25 2.074 356 16,530 15,643 10,182 363 4,828 336 -535 469 23,207 22,658 11,290 358 6,139 2,449 2,238 184 10.475 11,214 9,276 355 2,043 -287 -641 468 20.171 21.270 10,62? 354 6,643 1 ,120 2.122 409 17.390 18.182 9.930 350 6.075 -123 1.163 787 CREDIT MARKET INSTRUMENTS HOME MORTGAGES OTHER MORTGAGES IN STALMENT CONS. CREDIT OTHER CONSUMER CREDIT BANK LOANS N.E.C. OTHER LOANS 38 39 40 41 42 43 44 45 46 47 2 ,609 401 4.672 48 5 540 903 12? 76 643 121 74 1,061 122 80 2,075 122 1 19 1.682 121 142 620 121 146 295 121 133 -984 123 1?2 -1.337 123 115 -1.020 125 103 SECURITY CREDIT TRADE DEBT MISCELLANEOUS 45 46 47 48 -3 ,156 357 -1,271 383 -2,337 -5,320 -5,146 -2,316 -1,182 -6.333 -166 318 (1) 49 50 51 52 26.849 9,412 24,138 -6,701 34.30b 10.176 38.423 -14.294 5.525 2,324 5, 33 9 -2.138 t,009 2,355 6.924 -2.270 8.839 2.394 8,440 -1.995 7,979 2,422 7,914 -2,357 7.370 2.727 9.03 7 -4.394 8,687 2,493 10,182 -3,988 10,269 2,534 11,290 -3,555 9.269 2,560 9.276 -2.567 8,766 2,602 10,622 -4.458 10,072 2,618 9,930 -2.476 53 54 55 103,441 87,^76 16.015 117.409 9 3.775 23.634 26,030 21,679 4,351 25.234 22.086 3.148 30.001 22,466 7,535 24,772 22,812 1.960 29.430 23.125 6.305 28,969 23,600 5,369 34,238 24,238 10,000 29.606 24.847 4.759 33.991 25.425 8.566 31.980 26.049 5.931 56 57 11.231 4,784 19.170 4.464 3,693 650 3.632 -484 5,426 2,109 -515 2.475 5.933 372 5,164 205 8,588 1,412 1 ,756 7.763 3,003 803 5.952 -21 58 59 60 61 5,596 1 ,806 1,217 2,573 6.051 1.929 1.421 2.701 1 ,426 449 323 654 1.499 453 330 716 1,469 462 343 664 1.365 470 343 552 1.517 478 357 682 1.563 486 363 714 1,606 495 358 753 1,423 504 3C5 564 1.58? 508 354 720 1.661 516 350 795 62 63 13,612 8.064 15,141 6.241 14,738 6,65? 13,967 9.010 12,829 7,870 13,578 8.862 17.629 2.636 15.641 6,683 13,747 6,725 13,428 7,701 15.901 3.999 15.529 6.677 64 24.505 23.633 23,937 24.824 25.048 24,256 21.765 23,502 24,861 24,380 23.359 65 66 67 68 17,969 12,470 5.517 5.065 19,504 14.530 8.532 7,827 17,706 12,817 6,777 6,186 17.631 13.556 5.747 5.308 19.818 13.521 8.479 7,*58 18,041 12,513 5,063 3,*3A 19.650 14.947 10.103 9.106 19,356 14,844 8,158 7.720 20,756 15,593 10,445 10.198 19,347 10,629 5,029 5,384 20.204 69 7 5 6 . 4P4 808.860 186,269 190,827 2o3.395 189,093 194.994 * - NONTAXES 188.481 171.497 16,984 2,257 89 3,148 DISPOSABLE PERSONAL INCOME PERSONAL OUTLAYS PERSONAL SAVING. NIA BASIS CREOITS FROM GOVT. INSURANCE 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 pfr 11 1/73 HGtJMFS ARF 15.232 9.191 9,69? 10 11 ♦ SAVINGS ACCOUNTS COMMERCIAL BANKS S A VI NG S INST. 24 25 26 27 28 29 LIFE INSURANCE RESERVES PENSION FUND RESERVES 32 33 CORPORATE BUS. EQUITIES. MEMORANDA! NET PH YS IC AL 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 EXPENDITURES - CAPITAL CONSUMPTION - HOME MORTGAGES * EXCESS NET INVESTMENT CONSUMER DURABLES EXPENDITURES - CAPITAL CONSUMPTION = NET INVESTMENT x 34 35 36 49 50 51 52 53 54 55 CONSUMER CREDIT EXCESS NET INVESTMENT 56 57 N O NP RO FI T PLANT ♦ EQUIP. EXPENDITURES - CAPITAL CONSUMPTION - NONPROFIT MORTGAGES s E X CE SS NET INVESTMENT 58 59 60 61 PER CENT RATIOS: EFFECTIVE TAX RATE SAVING RATE* NIA BASIS ADJ. 62 63 (2)* CAPITAL EXPENDITURES A C Q U I S I T I O N OF FINAN. ASSETS N E T I N C R E A S E IN L I A B I L I T I E S CREDIT MARKET BORROWING 2 0 2 . 6 1 0 2 2 2 . 1 6 3 2 0 8 . 2 8 1 2 1 9 . 4 4 9 2 2 4 . 1 0 8 (2) D I S P O S A B L E I N C O M E A D J . (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 D . ) T E N T a TIVF ES TIMATES RASED ON INCOMPLETE INFORMATION. 21 22 23 30 31 CE NT OF O I S P O S A B L E INCOME 23.080 g r o s s SAVING 19.505 11 . 4 0 9 7.759 8.113 7 INVESTMENT COMPANY SHARES OTHER CORPORATE SHARES EXCLUDES (C) 6 6 9 NET SAVING CAPITAL CONSUMPTION (B) 5 64 65 -66 67 68 69 7 NO VEMBER 1973 TOTAL ♦ NONCORP BUSI NE SS * TOTAL ♦ NO NC OR P BUSINESS L 4 SECTOR ST AT EM EN TS OF SAVING AND INVESTMENT (MILLIONS OF DOLLARS) UNADJUSTED QU AR TE RL Y FLOWS 1971 I I 1972 II UN AD JU ST ED QU AR TE RL Y FLOWS 1971 III IV I I 1972 I NONFINANCIAL II I III BUSINESS - IV | 1073 II I III TOT*L 1 2 138.518 92.417 151.173 101.473 35.348 20.376 34.582 20.819 35.886 31.190 35.?97 22.756 37.375 21.519 37.763 24.436 A0.738 32.762 40.264 24.955 42.961 24.111 44.583 25.682 INCOME BEFORE GROSS SAVING 3 4 5 6 7 8 9 79.462 116.565 110.500 94.763 2.942 12.795 6.065 86.513 133.345 127.324 107.983 2.103 17.238 6.021 18.103 31.575 29.598 24.433 1.539 3.626 1.977 16.597 28.178 28.658 23.359 2.159 3.140 -480 *4.630 79.230 ,>8.726 25.527 -319 3.518 504 25.194 29.700 26.929 24.342 -1.110 3.697 2.771 18.643 35.278 33.663 27.552 1.367 4.744 1.615 20.565 33.154 32.903 26.562 2.010 4.331 251 22.111 35.213 33.829 29.527 -164 4.466 1.3R4 25.824 34.549 30.794 28.110 -1.233 3.917 3.755 20.931 39.662 38.38? 31.957 1.377 5.048 1.28" 22.960 38.127 37.942 31.544 2.210 4.188 185 GROSS INVESTMENT CAPITAL EXPENDITURES FIXED INVESTMENT BUSINESS PLANT ♦ EQUIPMENT N O N F A R M H O M E C O N S T . (1) MULTI-FAMILY RESIDENTIAL C H A N G E IN I N V E N T O R I E S 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 -37.103 25.174 62.277 11.701 48.461 18.^07 1.910 19.546 6.317 1.881 -46.832 33.156 79.98H 10.396 59.379 12.187 1.234 26.208 16.392 3.35h -13.472 5.356 18.828 3.480 15.505 5.399 1.118 4.H46 3.900 2h ? -U.^Sl 7.919 19.500 3.810 11.855 3.583 1.S78 5.347 1.808 -461 -4.600 9.027 13.627 2.632 10.962 4.359 -370 5.777 2.355 -1.159 -4.506 6.877 11.383 2.135 8.465 2.775 -972 5.122 -257 1.797 -16.635 4.970 21.605 3.205 18.682 3.812 976 6.436 5.486 1.972 -12.589 7.502 20.091 P.557 11.782 3.037 1.468 6.787 1.239 -749 -13.102 13.807 26.909 2.499 20.450 2.563 -238 7.863 9.924 338 -8,7?5 13.029 21.754 2.402 19.170 1.622 -1.068 6.586 11.978 52 -18.731 -15.167 14.520 16.152 33.251 31.319 2.211 774 25.006 18.632 3.406 1.888 98A 1.646 9.012 8.901 10.226 5.538 1.374 659 NET F I N A N C I A L I N VE ST ME NT F I N A N C I A L U S E S OF FUNDS* NET FINAN. SO UR CE S OF FUNDS* NET C O RP OR AT E SHARE ISSUES CREDIT MARKET INSTRUMENTS CORPORATE BONOS HOME MORTGAGES OTHFR MORTGAGES BANK LOANS N.E.C. OTHER LOANS 10 11 12 13 14 15 16 17 18 19 20 21 3.656 -1 . 5 4 1 14.395 -4,1*2 1 .4 4 9 -1.606 4 .443 -608 545 -512 436 347 4.286 -4.568 5.949 -197 3 .724 236 -1.528 1.710 8.937 -2.903 10 . 5 4 1 1 .372 22 12.955 14.960 2.273 4.222 6.560 -2 .438 2.876 3.871 10 . 6 5 1 -8*9 3.180 2 .722 DISCREPANCY FARM T*ADE OTHER TAXES 1 2 20 21 DEBT LIABILITIES BUSINESS 1 2 3 4 5 6 16.831 -47 6.826 3 71 6.4S5 6.779 20.240 -30 7.421 398 7.023 7.391 4.152 -721 1 .683 91 1.59? 962 4.070 ?94 1 .727 93 1.634 2.021 4.376 682 1 .766 94 1.672 2.448 4 .863 -212 1 .789 96 1 .693 1 .577 4.973 -834 1.903 98 1.805 1.069 4.952 541 1.847 10 1 1 .746 2.388 5 .452 475 1 .882 103 1 .779 2 .357 6.077 -288 1.975 104 1 .871 1 .687 6.100 -855 2.022 105 1 .917 1.167 6 .775 277 2 .024 106 1 .918 2 .301 NET INCOME NET SA VI NG CAPITAL CONSUMPTION CORPORATE NONCORPORATE CURRENT SURP. * GROSS 7 8 9 10 11 6.779 8.589 6.453 555 1.5*1 7.391 8.574 7.593 561 420 962 2.233 1 .746 141 346 2.021 2.232 1 .558 186 48et 2.448 2.017 1.422 144 451 1 .577 1 .976 1 .774 104 98 1.069 2. 17 8 1 .857 1 4b 173 2.388 2.154 1 .913 175 66 2 .357 2 .266 2 .049 134 83 1.687 2.423 2.260 103 60 1.167 2.663 2.484 143 36 2 .301 2 . 79 4 2 .267 152 375 g ro ss 12 13 14 15 16 17 -1.810 691 123 568 498 70 -1.183 631 138 493 403 90 -1.271 175 30 145 130 15 -211 164 31 133 129 4 431 187 32 155 118 37 -399 147 33 114 107 7 -1.109 160 34 126 97 29 234 136 35 10 1 96 5 91 188 36 152 103 49 -736 168 36 132 108 ?4 -1.496 206 37 169 112 57 -493 206 37 169 118 51 NET F I NA NC IA L INVESTMENT N E T I N C R . IN F I N A N . A S S E T S DEMAND DEPOSITS ♦ CURRENCY MISCELLANEOUS ASSETS INSURANCE RECEIVABLES E Q . I N S P O N S . A G S . (2) 18 19 20 21 22 23 24 2.501 4.098 2.011 1.345 742 47 695 1.814 4.857 2.580 1.814 463 36 427 1 .446 1.746 463 726 557 28 529 375 733 551 274 -92 -24 -68 -244 243 443 0 -20 0 -28 -172 546 1 .252 634 300 318 19 299 1.269 2.119 867 810 442 30 412 -98 587 635 90 -138 41 -179 97 899 444 614 -159 -54 -105 904 2.013 998 686 329 25 304 1.702 2.847 1 .279 985 583 25 558 699 1 .577 976 415 186 -25 211 N E T I N C R E A S E IN L I A B I L I T I E S CREDIT MARKET INSTRUMENTS MORTGAGES BANK LOANS N.E.C. OTHER LOANS U.S. GOVERNMENT FICB ♦ BANKS FOR COOPS 25 26 1.211 -2.808 1.000 - 4 .0 4 3 316 -616 317 -675 291 -778 266 -972 245 -1.095 239 -924 2M> -1 . 0 5 2 258 -1.367 279 -1.424 331 -1 . 2 0 9 N O N F a RM NONCORPORATE SAVING i nv es t me nt CAPITAL EXPENDITURES PLANT ♦ EQUIPMENT RESIDENTIAL CONSTRUCTION C H A N G E IN I N V E N T O R I E S TRADE DEBT PROPRIETOR NET INVESTMENT BUSINESS 1 62.6]7 63.692 15.658 15.774 15.764 15.743 15.407 16.164 16.378 16.544 16.667 17.029 2 3 15.766 15.766 17.325 16.615 3.«77 1 .*71 3.962 1.100 4.067 10.167 4. 148 3.514 4.361 881 4.351 2.462 4 .4 6 5 9.758 4 .480 3.628 4.605 2.506 4.640 1.754 CAPITAL CURRENT 4 5 6 7 8 9 10 15.766 21.231 21.721 11.477 1.193 9.051 -490 16.615 24.111 25.303 12.201 772 12.330 -1.192 1 .671 1 .100 5.799 6.063 2.927 987 2. 149 -264 10.167 4.575 5.368 3.060 -232 2.540 -793 3.514 5.373 5.127 2.802 -607 2.932 246 881 6.584 6.781 3.098 610 3.073 -197 2.462 6.471 7.036 3.069 918 3.049 -565 9.758 5.683 6.359 3.232 -149 3.276 -676 3.6?8 6.371 5.476 3.038 -668 3.106 895 2.506 7.439 7.216 3.329 617 3.270 223 1.754 7.144 7.417 3.421 1.029 2.967 -273 GROSS i n v e s t m e n t CAPITAL EXPENDITURES FIXED CAPITAL PLANT ♦ EQUIPMENT H O M E C O N S T R U C T I O N (1) MULTI-FAMILY RESIDENTIAL 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 -5.465 1 .481 0 687 794 781 13 -7.496 1 .796 0 1 .074 722 710 -4.699 12 -4.122 251 0 45 206 ?00 6 158 0 -46 204 202 2 5.592 780 0 588 192 19 1 1 -1.859 156 0 -30 186 183 3 - 5 . 7 03 308 0 126 182 175 7 -4.009 99 0 -77 176 174 2 4.075 1.233 0 1 .055 178 178 0 -2.743 265 0 77 188 183 5 -4.933 374 0 18 1 193 185 A -5.390 102 0 -99 201 190 11 18 19 20 21 22 23 6.946 8.694 8.002 955 6.171 876 9.292 10.373 9.236 617 >.283 1 .336 4 . 3 73 2.853 2.469 559 1.716 194 4.H57 1 .976 2.582 789 1 .532 261 -4.812 2.399 1 .871 -165 1 .774 282 2.015 951 1.126 -486 1 .356 256 6.011 3.251 2.532 488 1 .731 313 4.108 2.332 2.952 734 1.854 364 -2.842 3.839 2.626 -119 2.342 403 3.008 2.664 1.654 -534 1.912 276 5.307 3.739 3.563 494 2.702 367 5.492 3.647 3.658 823 2.387 448 24 25 204 721 416 137 247 -293 -313 291 488 237 140 -315 477 242 -223 -397 327 886 372 618 9? 84 -399 388 26 27 -1.140 -608 -171 -910 1 .764 -244 2.9R3 -102 -7. 142 -69 1.107 -43 3.096 -336 2.178 -6.552 -129 877 -533 2.209 -641 2.780 -935 5.793 5.926 2.P88 699 2.339 -133 -402 I I 1/73 FIGURES ARE T E N T a TIVF ES TIMATfS BASED ON INCOMPLFTE INFORMATION. (1) c ha ng e IN WORK (2) SHARES IN F I C R *S* IN NET INCOME CONSUMPTION SURP. = GROSS SAVING NET FINANCIAL INVESTMENT NET ACQ. OF F I N A N C I A L A S SE T S DEMAND DEPOSITS ♦ CURRENCY CONSUMER CREDIT MISCELLANEOUS ASSETS INSURANCE RECEIVABLES E Q . I N S P O N S * 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 CREDIT MARKET INSTRUMENTS MORTGAGES HOME MORTGAGES MULTI-FAMILY COMMERCIAL BANK LOANS N.E.C. OTHER LOANS TRADE DEBT* NET PROPRIETOR NET INVESTMENT PROCESS. BANKS FOR COOPS* AND LAND BANKS. 7 NOVEMBER 1973 CORPORATE BUSINESS CORPORATE BUSINESS 5 SECTOR STATEMENTS OF SAVING AND INVESTMENT (MILLIONS OF DOLLARS) UNADJUSTED 1971 QUARTERLY 1972 UNADJUSTED FLOWS I I II 19-1 II I IV I I II CORPORATE QUARTERLY FLOWS 1973 II 1972 III BUSINESS 63.990 29.567 20.327 14.196 2.910 -4.920 57.686 69.H72 74.158 34.917 21.146 18.095 3.471 -6.917 62.818 77.467 16.979 8.077 4.722 4.180 720 -1.441 14.284 17.743 16.037 7 .?68 4.897 3.872 574 -1.299 14.551 17.698 16.485 7.308 5.680 3.497 1.019 -739 14.798 18.575 16.629 7.788 5.086 3.755 728 -1.938 15.120 17.665 18.925 8.897 5.055 4.973 742 -1.930 15.784 19.569 18.165 8.552 5.008 4.605 774 -1.518 15.725 19.586 20.439 9.680 5.997 4.762 1.227 -1.531 16.189 20.647 21.791 10.416 5.129 6.246 1.060 -4.148 16.482 19.640 25.787 12.37? 5.195 8.218 1.050 -5.593 16.763 20.438 24,743 11,971 5.327 7.472 1.028 -3.964 17.091 21.627 P R O F I T S TAX A C C R U A L S NET DIVIDENDS PAID UNDISTRIBUTED PROFITS FOREIGN BRANCH PROFITS INV. V A L U A T I O N A D J U S T M E N T CAPITAL CO NS UM PT IO N ALLOW. GROSS INTERNAL FUNOS 9 10 11 12 13 14 15 56.917 86.745 81.771 76.833 1.194 3.744 4.974 62.507 100.660 93.867 88.189 770 4.908 6.793 15.470 23.549 21.785 19.799 699 1 .287 1.764 13.476 20.147 20,851 18.874 986 991 -704 12.015 ?2.638 21.792 21.045 -231 978 846 20.103 22.351 19.924 19.766 -607 765 2.427 16.693 26.516 24.877 22.597 609 1.671 1.639 15.715 24.529 23.779 21.580 917 1 .282 750 9.996 27.264 25.287 24.246 -149 1.190 1.977 20.509 25.755 22.955 22.812 -668 81 1 2.800 17.258 29.56ft 28.539 26.144 617 1.778 1.021 18.905 28.189 28.106 25.856 1.029 1.221 83 FIXED INVESTMENT PLANT ♦ EQUIPMENT HOME CONSTRUCTION MULTI-FAMILY RESIDENTIAL C H A N G E IN I N V E N T O R I E S 16 17 -29.828 23.002 -38.153 30.729 -8.079 4.930 -6.671 7.597 -10.623 8.060 -2.248 6.574 -9.823 4.502 -8.814 7.267 -17.268 12.386 -5.246 12.596 -12.302 13.94ft -9.284 15.844 FINANCIAL 18 19 20 21 22 23 24 10.561 678 3.600 2.036 2.404 843 5.068 38 3.110 -2.38b 1.000 1 .695 1.611 967 914 1.100 1.209 250 -1.194 -1.312 2.658 6 1.050 -1.137 250 1.247 1.242 7.003 1.914 750 2.815 250 1.445 -171 328 -1.655 800 -1.878 ?50 1.507 1.304 -490 -973 700 -1.924 250 727 730 -1.184 -51 510 -323 250 -825 -745 6.414 2.717 1.100 1.739 250 286 3?2 4.148 -1.894 5.250 -608 250 -176 1.3?6 4.081 -75 1.74R 921 250 1,906 -660 4.369 -589 4.423 -1.539 -250 668 1.656 25 26 27 28 29 30 31 572 5.630 6.?39 3.782 1 .387 1 .047 23 1.572 19.750 4.339 1.381 1 .784 1.156 18 159 1 .481 2.323 1 .440 619 259 5 1 91 3.124 1.624 1.110 238 ?67 9 1.259 -692 490 -36 246 273 7 -1.251 5.028 2.469 1.396 787 280 6 449 3.937 606 -368 681 289 4 355 5.914 2.182 686 1.198 294 4 2.019 4.871 -918 -333 -882 293 4 -1.152 6.061 3.539 2.076 1 .178 282 3 74? 6,848 2,269 970 1,000 28* 5 32 33 34 35 52.830 47.370 11.701 35.669 68.882 54.545 10.396 44.149 13 .0 09 14.386 3.480 10.906 14.268 12.956 3.810 9.146 18.683 10.952 2.632 8.320 8.822 8.397 2.135 6 .?62 14.325 16.517 3.205 13.312 16.081 11.420 2.557 8.863 29.654 17.842 16.895 2.402 14.493 18.*07 11.443 955 2.601 7.887 12.187 15.626 617 2.985 12.024 5.399 3.03? 559 724 1 .749 3.583 3.792 789 651 2.352 4.359 3.093 -185 745 2.533 2.775 2.390 -486 569 2.307 3.812 4.013 488 704 2.821 3.037 4.668 734 660 3.?74 2.563 4.555 -119 1.052 3.622 1 .622 41 42 43 44 4.768 -1.460 1.885 226 13.857 -538 2.776 241 3.037 -1.387 747 78 1.827 639 -705 10 2.064 -1.789 526 67 -697 717 1.074 3 4.199 444 814 30 1.372 -572 306 52 45 46 47 1.991 3.585 -116 611 13.566 160 -747 -631 1 594 1.143 -425 151 7.396 184 1.723 -937 -361 -3.320 945 183 951 3.532 178 48 12.955 14.960 2.273 4.222 6.560 -2.438 2.876 3.871 49 50 2.045 27.751 6.184 34.011 2 .1 1 2 10.246 1.981 5.790 -8.088 5.756 5.965 6.461 2.992 13.251 2.382 7.118 51 52 53 46.205 124.148 41.119 47.084 129.939 43.859 47.570 132.722 46.311 45.320 113.837 45.396 44.331 1P1.873 36.752 46.833 126.527 28.016 47.011 135.499 50.203 47.079 125.237 36.132 47.360 132.048 57.629 1 .000 OF FUNDS. NET 3 4 5 6 7 8 9 10 11 12 13 14 15 17 LIQUID ASSETS D E M A N D DEP. ♦ C U R R E N C Y TIME D E PO SI TS U.S. GOVT. SE CU RI TI ES S. ♦ L. O B L I G A T I O N S COMMERCIAL PAPER SECURITY H.P.*S IB 19 20 21 22 23 24 198 9.807 1.470 990 200 276 4 CONSUMER CREDIT TRADE CWEDIT MISCELLANEOUS ASSETS F O R E I G N D I R . I N V E S T . (1) FOREIGN CURRENCIES INSURANCE RE CEIVABLES E Q U I T Y IN S P O N S O R E D A 0 S . 25 26 27 28 29 30 31 26,24? 20.631 2.211 18,420 25.128 14.182 774 13.408 F I N A N . S O U R C E S OF F U N D S . NE T NE T F U N D S R A I S E D IN M K T S . NET NEW SHARE ISSUES DEBT INSTRUMENTS -534 912 2.488 3.406 5.158 494 1 .358 3.306 5.913 823 1.059 4.031 C O R P O R A T E B O N D S (1) MORTGAGES HOME MORTGAGES MULTI-FAMILY COMMERCIAL 8.983 -1.127 582 156 10.920 -1.834 964 -45 9.149 8ft 617 in 5.522 491 -396 -10 BANK LOANS N.E.C. OPEN-MARKET PAPER FINANCE COMPANY LOANS U.S. GO VE RN ME NT LO AN S 1.257 10,026 160 3.357 -2.663 253 -1.313 6.449 475 3.295 7.430 221 P R OF IT TAX LI AB IL IT Y TRADE DEBT MISCELLANEOUS LIABILITIES 10.651 -869 3.180 2.722 DISCREPANCY -5.155 7.181 8.724 7.539 399 15.104 2.377 8.049 MEMO* NET TRADE CREOIT PR OF IT S TAX P A YM EN TS 49 50 47.799 131.135 56.272 47.977 144.632 62.313 4 m 8 .. 3 j8 o1 i 130.341 47.564 PER CENT RATIOS! E t FrFrE tC Tm I.VtE TiA X R A T E CAPITAL OUTLAYS/INTERNAL FUNDS CR. MKT. B O R R O W I N G / C A P . EXP. 52 ** 18.211 2.4Q9 15.712 2.866 (1) 111/73 FIGURES ARE TE NT a TIVF ESTIMATFS BASED ON INCOMPLETE INFORMATION. USES 1 2 1.888 F O R F I G N I N V E 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 ISSUES ABROAD. AND BONO ISSUES OUTSIDE THE U.S. E X C L U D E D FR O M F I N A N C I A L S O U R C E S OF F U N D S ABOVE. BOND ARE 32 33 34 35 36 37 38 39 40 41 42 43 44 7 NO VE MB ER 1973 GOVERNMENTS 6 UNADJUSTED 1971 1 152.318 2 113.784 3 9.390 4 29.144 GOVERNMENTS 6* SECTOR STATEMENTS OF SAVING AND INVESTMENT (MILLIONS OF DOLLARS) QUARTERLY 1972 UNADJUSTED QUARTERLY FLOWS FLOWS | II 1971 III III IV GENERAL FUNDS 1 I II III 177.155 128.771 10.707 37.677 38.279 28.19? 2.308 7.779 36.?64 26.587 2.386 7.?91 43.376 33.197 2.462 7.717 39.786 29.737 2.540 7.509 45.475 32.499 2.630 10.346 40.950 29.885 2.722 8.343 50.944 36.650 2.815 11.479 45.792 33.004 2.888 9.900 48.718 35.258 2.958 10.5,02 46*514 33.689 3.036 9.789 TOTAL RECEIPTS* NIA BASIS TAX RE C E I P T S S O C I A L INS. R E C E I P T S G R A N T S IN A I D R E C , 42.383 3 9 . 0 09 3.374 -1.433 1.885 -3.318 42.718 39.306 3.412 8.226 1.675 6.551 42.955 39.631 3.324 2.837 1.928 909 45.671 42.396 3.275 3.047 2.96? 85 47.496 44.109 3.387 -982 1.904 -2.886 TOTAL EXPEND IT UR ES * NIA BASIS P U R C H A S E S OF G0 0D S* SE RV IC ES NET INTEREST ♦ TRANSFERS NET SU RP LU S* NIA BASIS - R E T I R E M E N T C R E D I T TO HH = GROSS SAVING 5 6 7 8 9 10 148.274 136.229 12.045 4.044 6.824 -2.780 164.023 150.538 13.485 13.132 7.262 5.870 37.074 34.049 3.025 1 .205 1.727 -522 38.233 35.196 3.037 -1.969 2.007 -3.976 38.248 35.162 3.086 5.128 1 .2^7 3.831 38.369 34.986 3.383 1.417 1.146 271 40.553 37.237 3.316 4.922 2.556 2.366 U 12 13 14 15 -13.514 4,046 6.186 -471 7.159 - 1 .8 2 6 11.046 8.596 1.819 6.777 -4.911 -389 319 277 42 - 6 . 0 17 -1.710 -765 -1.470 705 1.141 4.583 5.122 1.664 3.458 -1.079 2.950 1.911 475 1 .436 -757 2.065 1.890 600 1.290 -3.791 -461 -447 -737 290 3.801 6.492 5.242 1.481 3.761 30 1.783 1.520 -1.468 2.988 -1.53? 1.404 1.499 914 585 -1.665 -588 -2.542 -1.599 -943 NET FI N A N C I A L IN VESTMENT NET ACO. OF FINA NC IA L ASSETS TOTAL DEPOSITS ♦ CURRENCY DEMAND o e p , ♦ c u r r e n c y TIME DEPOSITS 16 17 18 19 -2.438 -2.248 -1.195 -1.053 1.961 2.106 1 .383 723 -738 -635 -604 - 31 -873 ' -928 -607 -321 -680 -639 -385 -254 741 768 711 57 97 213 141 72 -4 -85 -509 424 1.127 1.210 1.040 170 -36 140 659 -519 -221 -184 -873 689 1.954 1.369 453 916 CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES DIRECT U . S. GO V T . A G E N C Y SEC. 20 21 22 -206 16 296 -155 10 489 -108 5 3n 49 6 -72 -45 4 141 298 -119 3 78 79 2 -10 -85 2 1 ?3 -176 0 299 -37 0 126 -14 -1 0 23 24 25 26 17.560 16.991 16.626 2.434 14.192 12.872 12.275 11.930 -99fr 12.926 4.522 4.179 4.447 824 3.623 4.307 4.158 3.909 589 3.320 3.442 3.295 3.204 -113 3.317 4.029 3.882 3.615 432 3. 1 8 3 2.822 2.672 2.975 -539 3.514 3.330 3.179 3.053 -154 3.207 2.691 2.542 2.287 -735 3.0?2 1.753 1.603 1 .529 -733 2.262 2.936 2.787 2.837 -535 3.372 1.077 928 978 -1.156 2.134 28 29 365 569 345 597 -6R 143 ?49 149 91 147 267 147 -303 15 0 12 6 151 255 149 74 150 -50 149 -50 149 30 10.734 7.696 4.389 2.041 2.690 1.350 3.123 473 2.750 1.617 -1.221 879 FMPLOYEF RETIREMENT ST.*LOC. OBLIGATIONS HOME MORTGAGES TAXES RECEIVABLE N E T I N C R E A S E IN L I A B I L I T I E S CREDIT MARKET BORROWING S. ♦ L . O B L I G A T I O N S SHORT-TERM OTHER U.S. GOVE RN ME NT TRADE DEBT LOANS DISCREPANCY FUNDS ARE IN INSURANCE SECTOR. U.S. PiOVFRNMENT 198.851 89.894 33.334 20.415 55.208 228.684 107.917 37.830 19.915 63.022 54,627 24.008 8.882 5.214 16.523 50.505 24.318 8.281 5.036 12.870 45.716 ?2 .297 8.346 5.128 9.945 52.439 21.298 8.515 4.699 17.927 64.043 31.142 9.547 5.052 18.302 58.213 28,995 9.320 4.950 14.948 53.989 26.482 10.448 5.214 11.845 60.762 22.800 6 221.045 7 98.067 8 46.970 9 13.605 10 62.403 11 - 2 2 . 1 9 4 12 2.914 13 - 2 5 . 1 ^ 8 244,576 104,446 47.836 13.^52 78.842 -15.892 3.222 -19.114 55.497 24.374 12.399 3.250 15.474 -870 1.875 -2.745 56,829 56.900 26.122 24,195 13.780 9.983 3.405 3.366 17.429 15.449 -6.324 -11.184 574 250 - 6 . 5 7 4 -- 1 1 . 7 5 8 57.784 25.«63 61.692 26.980 12.254 3.264 19.194 2.351 2.151 60.637 25.240 200 3.366 19.871 -2.424 287 -2.711 64.463 26.363 13.210 3.482 21 . 4 0 8 •10.474 848 ■11.322 63.571 25.773 11.388 3.698 22.712 -2.809 -172 -2.637 14 15 16 17 18 19 20 21 22 -25.000 4.055 3.301 3.222 -20.116 868 -968 2.313 5 -243 2.551 500 -977 -3.126 730 4.172 956 -4 43 917 -3.022 -1.376 -7.475 -10.147 2.997 2.344 1.340 1 .106 444 626 0 3 51 -33 474 575 1 .830 1.328 -1.218 -115 -5.689 -1.535 -3.424 523 -3.263 1.662 -53 -1 -198 146 -5.017 145 -4.050 1.898 -629 1.056 0 69 987 1.714 -243 -10.900 3.768 1.423 490 5 -191 676 2.576 -7? 1 -3.147 5.683 1.533 471 5 -411 877 3.332 347 900 -2.755 164 -237 -7 -72? 492 -3.066 384 2.386 NET FI N A N C I A L INVESTMENT 1.171 NET ACO. OF FINA NC IA L ASSETS -4.405 DEMAND DEPOSITS ♦ CURRENCY 1.063 CREDIT MARKET INSTRUMENTS 9 S P ON SO RE D AGENCY ISSUES 754 MORTGAGES 300 OTHER LOANS 4.373 TAXES RECEIVABLE 140 OTHER ASSETS 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 29.055 25.500 2.425 23.5^8 -523 3.H56 1 .820 676 -56 1 .875 161 9.819 9.603 612 8.924 67 250 -34 13.144 12.503 657 11.654 19? 574 67 4. 1 5 4 4.293 797 2.928 568 -64 -75 -3.786 -5.651 847 -6.859 361 2.151 641 20.984 17.317 3.295 10.624 3.398 3.2 22 445 -?86 5.948 5.738 772 3.824 1.142 287 -77 14.668 12.937 879 10.731 1.327 848 883 8.830 8.839 891 7.310 638 -172 163 -3.664 -5.92? 911 -6.85? 19 2.347 -89 -1.215 -421 441 -1.582 720 -307 -487 23 24 25 26 27 28 29 30 31 -108 32.001 1.002 37.330 3tf 1 11.904 901 6.451 -1.611 7.018 408 7.288 -323 14.564 1.339 7.606 -422 7.872 510 7.730 261 16.016 -71 8.423 -4 37 3.189 1.333 -3.801 2.914 1 .200 FEDFRALLY 10.212 3.340 18.369 -5.345 -64 -5.281 820 1 77 74? 1.227 -158 SPONSORS CRFDIT 12.160 11.062 5.100 21.800 70.802 29.808 12.950 5.516 22.528 68.987 31.573 12.796 5.244 19.374 TOTAL RE CE IP TS * NIA BASIS PERSONAL TAXES CO RP . P R O F I T S TAX A C CR UA LS INDIRECT TAXES INSURANCE RECEIPTS 67.285 27.805 13.060 3.754 66.979 26.044 13.701 4.098 23.136 2.008 -307 2.315 TOTAL EX PE N D I T U R E S * NIA BASIS GOODS ♦ SERVICES GRANTS ♦ DONATIONS NET IN TE RE ST INSURANCE BENEFITS NET SURPLUS. NIA BASIS - I N S U R A N C E C R E D I T S TO HH a GROSS SAVING 22.666 3.517 2.347 1.170 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. G O V E R N M E N T SE CU RI TI ES SAVINGS BONOS DI RE CT EXCL. SVGS. BONDS BUDGET AGENCY ISSUES LIFE ♦ RETIREMENT RESERVES OTHER LIABILITIES DISCREPANCY MEMO: CORP. TAX RECEIPTS* NET AGENCIFS 1 84 84 21 21 21 20 21 21 ?2 ?2 24 2 3 4 5 6 7 8 9 10 11 12 3.410 54 2.H02 -1.525 5.598 730 -2.001 -17 695 -2•*79 554 6.610 -48 6.013 -1.418 5.486 1.190 755 285 427 43 645 -1.023 -18 -1.136 -681 1.345 232 -2.032 -112 529 -2.44Q 131 1 .901 193 1.316 -1.028 1 .990 188 166 -162 -68 396 392 1.976 -134 2.397 194 1 .792 150 261 134 -172 299 -287 1 .834 -80 1.853 1.560 1.537 222 -1.466 179 299 -1.944 61 1 .959 25 1.624 -427 1.393 294 364 -131 412 83 310 1.113 5 300 -1.821 1.214 316 591 109 -179 661 808 1.704 ? 2.236 -730 1.342 358 1.266 128 -105 1.243 -534 3.042 35 3.113 -102 1.389 484 1 .342 597 304 441 -106 6.181 -24 5.850 230 1.989 527 3.113 -170 558 2.725 346 7 . 5 9 5 NE T I N C R E A S E IN A S S E T S 4 DEMAND DE POSITS ♦ CURRENCY CREOIT MARKET INSTRUMENTS 7.022 468 U.S. GO VE RN ME NT SECURITIES 2.695 R E S I D E N T I A L M O R T G A G E S (1) FARM MORTGAGES 482 OTHER LOANS 3.377 13 T O C O O P S (8C) T O F A R M E R S (FICB) 211 T O S * L •S ( F H L B ) 3.153 569 MI SC EL LA NE OU S ASSETS 13 14 15 16 17 18 3.315 4.296 4.296 0 -981 -11 6.464 6.182 6.182 0 282 -62 1 .858 2.017 2.017 0 -159 -22 1 .984 1.955 1.955 0 29 29 1.778 1 .392 1 .392 0 386 -36 1 .934 2.115 2.115 0 -181 -4 1.052 1.083 1 .083 0 -31 -40 1.700 1.592 1.592 0 108 18 2.945 2.684 2.684 0 261 -75 6.125 5.874 5.874 0 25 1 -32 7 . 5 2 1 N E T I N C R E A S E IN L I A B I L I T I E S 7.605 CREDIT MARKET INSTRUMENTS 7.605 S P O N S . A G E N C Y I S S U E S (1) 0 U.S. g o v e r n m e n t l o a n s -84 MI SC EL LA NE OU S LIABILITIES -51 D I S C R E P A N C Y http://fraser.stlouisfed.org/ II1/73 FIGURES ARE Federal Reserve Bank of St. Louis -1.042 • 313 313 0 -1.355 2 23 CURRENT SURPLUS THIS GR O U P C O N S I S T S OF F E D E R A L HO M E L O A N B A N K S * F E O E R A L N A T I O N A L MORTGAGE AS SOCIATION* FEDFRAL IN TERMEDIATE CR ED IT BANKS, BANKS FOR COOPER AT IV ES . AND F E DE RA L LA ND BANKS. T H E S E A G E N C I E S ARE PRIV AT EL Y OW NE D AND ARE EX CL UD ED FR OM U.S. GOVT. BUDGET ACCOUNTS AS OF 19 69 AN D F R O M U. S . G O V 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 AL L YEARS. (1) ALL G N M A - G U A R A N T E E D S E C U R I T I E S B A C K E D BY M O R T G A G E P O O L S ARE I N CL UD ED IN A G E N C Y S E C U R I T I E S . T H E M O R T G A G E P O O L S A R E I N C L U D E D IN R E S I D E N T I A L MORTGAGES. TENTATIVE ESTIMATFS RASED ON INCOMPLETE INFORMATION, 1 2 3 4 5 6 7 8 9 10 11 12 13 30 31 ,7 NOVEMBER 1973 BANKING SYSTEM b an ki n g SYSTEM 7 7 SECTOR UNADJUSTED QUARTERLY 1971 1972 S T A T E M E N T S OF S A V I N G AND I N V E S T M E N T (m i l l i o n s o f d o l l a r s ) FLOWS 1 1 II UNADJUSTED 1971 II I 1 1 IV 1972 I MONETARY ii in IV 1 1 QUARTERLY I 1973 II III AUTHORITIES 1 -55 101 -12 -13 -15 25 25 26 25 30 36 2 3 4 5 6 7 6 9 10 8.280 -832 478 82 -296 8.848 8.644 204 0 2.072 -371 686 -369 1.942 18 4 339 -155 0 990 -315 150 -1 55 1.101 1.177 -76 0 1.828 -277 84 -23 -64 2.108 2.109 -1 0 4.951 -5 123 1.817 -343 3.359 3.159 200 0 -1.140 -545 268 -1.670 991 -184 -66 -118 0 1.526 0 171 626 -900 1.629 1.699 -70 0 -361 99 134 412 712 -1.718 -1.707 -11 0 2.047 75 113 263 1.139 457 413 44 0 2.224 -190 107 -1.852 32 4.127 4.068 59 0 960 -13 111 -74 -243 1.179 1.278 -99 0 11 12 13 8.335 3.638 494 1 .971 -2.141 1.125 1.002 -1.382 404 1.841 874 466 4.966 2.364 -559 -1.165 683 509 1.501 -989 -1.251 -387 -790 2.041 2.022 -1.045 -174 2.194 1.226 234 14 15 16 17 18 897 119 3.392 -33 -172 -284 -96 4.412 -21 -1.024 387 -32 1 .685 3 -63 746 1 -27 44 -263 10 92 2.706 17 336 -1.165 -204 -1.050 -44 106 1.376 37 3.014 -12 -674 -478 -59 -1.466 -91 456 -17 130 3.914 126 -912 COMMERCIAL FLOWS BANKING 36 CURRENT SURPLUS 1 4 . 2 1 7 NET ACQ. OF F I N A N C I A L A S S E T S GOLD ♦ FOREIGN EXCHANGE 13 68 TREASURY CURR. ♦ SDR CTFS. 897 F.R. FLOAT F . R. L O A N S TO D O M E S T I C B A N K S 2.750 489 CREDIT MARKET INSTRUMENTS U.S. GO VERNMENT SE CU RI TI ES 498 ACCEPTANCES -9 BANK LOANS N.E.C. 0 2 3 4 5 6 7 8 9 10 924 -2.055 -1.231 4.181 6.131 2.011 11 12 13 1.589 41 -1.396 93 407 619 27 3.648 324 -408 -2.910 63 -1.325 70 141 N E T I N C R E A S E IN L I A B I L I T I E S MEMBER BANK RESERVES VA UL T C A S H OF CO ML . B A NK S DEMAND DEPOSITS ♦ CURRENCY OUE TO U.S. GO VE RN ME NT DUE TO REST OF THE WORLD CURRENCY OUTSIDE BANKS TAXES PAYABLE MISCELLANEOUS LIABILITIES 14 15 16 17 18 (1) 1 2 2.818 2.334 3.667 2.487 646 553 829 624 805 624 812 626 844 628 934 615 1.077 618 1.094 634 1.250 633 1.605 623 3 4 5 6 7 8 9 58.492 127 51.350 50.592 6.944 3.115 3.829 78.256 169 74.597 69.711 6.463 2.400 4.063 16.770 35 16.990 17.277 -1.122 -1.522 400 10.077 64 7.640 7.363 -93 -1.445 1,352 /?5 • 9 2 0 7 26.237 ? 3 ,348 7.713 6,213 1.500 8.890 47 4.173 4.997 -1.447 -2.266 819 18.159 62 18.559 16.919 -1.492 -2.370 878 19.875 53 15.522 15.220 1.314 1 .081 233 31.332 7 36.343 32.575 8.088 5.955 2.133 22.153 20 12.703 17.019 -5.807 -5.936 129 28.749 -IQ 27.102 27.443 -1.059 -3.404 2.345 21.402 -21 13.565 14.926 -225 -3.071 2.846 10 11 12 13 14 23.822 12.607 1 •? 7 5 5.691 4.249 24 .828 6.318 1.711 8.984 7.815 7.693 4.409 369 1.591 1.324 4.436 871 268 1.954 1 .343 5.865 3.017 269 1.612 967 5.768 2.205 464 1.551 1.548 6.661 1,689 472 2,218 2.282 7.182 1.998 250 2.864 2.070 5.217 426 525 2.351 1.915 4.633 605 -73 2.101 2.000 6.694 1.100 -105 3.076 2.623 5.319 -287 306 2.921 2,379 OTHER SECU RI TI ES ♦ MTGS. S. ♦ L . O B L I G A T I O N S CORPORATE BONDS HOME MORTGAGES OTHER MORTGAGES 10 11 12 13 14 15 16 17 18 19.826 6.689 12.351 786 38.420 10.084 28.540 -204 10.706 2.548 8.199 -41 3.020 1 .996 1 .389 -365 9.770 1.820 6.503 1.447 676 717 479 -520 11.750 3.441 8.575 -266 6.724 3.017 4.155 -448 19.270 2.909 15.331 1.030 18.193 1.822 17.301 -930 21.808 4.057 17.818 -67 9.832 3.007 6.794 31 O T H E R CR. EX CL . S E C U R I T Y CONSUMER CREDIT BANK LOANS N.E.C. OPEN-MARKET PAPER 15 16 17 18 19 20 -17 775 129 4.757 17 -304 -27 304 -22 2.911 87 -911 42 1.598 0 302 0 3.768 0 -4.316 0 -34] 0 -1.361 CORPORATE EQUITIES SECURITY CREDIT 21 22 23 4.132 1.664 1.219 -1.016 1.428 3.078 -978 2.085 -1.362 1 .340 13 1 .020 1.805 -1.466 -663 1.192 125 3.353 -2.240 4,067 -2.289 1.251 802 2.247 -1.219 -3.566 -233 1.460 4.125 3.845 -3.286 4.155 797 8.142 -3.773 3.489 VAULT CASH ♦ MEM. BANK OTHER INTERBANK CLAIMS MISCELLANEOUS ASSETS 24 25 26 27 56.292 12.995 2.231 10.764 75.612 16,352 706 15.646 15.340 10.757 3.892 6.865 9.901 -2.785 508 -3.293 ? S •042 16.396 1.249 15.147 8.869 -7.889 -1.429 -6.460 16,708 3.898 343 3,555 19.893 1.441 387 1 .054 30.142 18.902 1.405 17.497 21.731 -11.425 515 -11.940 26.55P 6.720 -956 7.676 21.013 -4.780 -2.224 -2.556 28 29 30 31 41.363 8.685 32.418 260 42.343 9.760 33.045 -462 6.72B 1.003 5.687 38 7.720 4.544 3.062 114 10.469 1.689 8.728 52 10.433 -1.546 11.882 97 10,114 2,614 7,424 76 10.656 5.377 5.553 -274 11.140 3.315 8.186 -361 20.076 10.852 9.001 223 11.814 4.249 7.470 95 14.034 9.069 5.039 -74 TIME OEPOSITS LARGE NEGOTIABLE CD»S O T H E R AT C O M M E R C I A L BA NK S AT F O R E I G N B A N K I N G A G S . 28 29 30 31 32 33 34 35 36 37 214 3.257 82 -296 1 .664 -27 524 4.816 -369 1.942 1.428 -200 14 -1.189 -I 55 2.085 -435 -7 1 .896 -23 -64 13 112 13 1.280 1.817 -343 -1.466 68 50 4.154 -1.670 991 125 -45 209 -160 626 -900 4,067 -285 4 1.627 412 712 802 130 261 -805 263 1.139 -3.566 0 3 5.333 -1.852 32 4.125 275 7 1.438 -74 -243 4.155 -290 -90 2.423 897 2.750 -3.773 100 c orporate EQUITIES CREDIT MARKET DEBT F.R. FLOAT B O R R O W I N G AT F.R. B A N K S 32 33 34 35 36 37 38 39 40 -2.746 -4.069 1.323 9.300 933 8.367 -2.660 -1.411 -1.249 3,032 1.255 1.777 -3.179 -1.339 -1.840 2.770 408 2.362 -652 341 -993 4.113 998 3.115 3.069 -814 3.883 5.167 -277 5.444 3.038 693 2.345 9.362 615 8.747 41 -1.716 -1.464 -1.337 29 -697 165 -1.235 337 -731 38 -1.574 593 (1) 111/73 F I G U R E S ARE T E N T a T IVF E S T I M A T F S B A S E D ON INCOMPLETE CURRENT SURPLUS PLANT ♦ EQUIPMENT 1 2 NET ACQ. OF F I N A N C I A L A S S E T S DEMAND DEPOSITS ♦ CURRENCY TOTAL RANK CREDIT CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES DIRECT AGENCY ISSUES 3 4 5 6 7 8 9 19 20 RES. N E T 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. GOVERNMENT OTHER other interbank TAXES PAYABLE claims MISCELLANEOUS LIABILITIES LI AB . TO FG N. A F F I L I A T E S OTHER DISCREPANCY C O N S I S T S OF C H A R T E R E D C O M M E R C I A L BA N K S * TH EI R D O M E S T I C A F F I L I A T E S * F D G E ACT C O R P O R A T I O N S * A G E N C I E S O F F O R E I G N B A N K S * AN D B A N K S IN U . S. POSSESSIONS. E D G E ACT 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 A P P E A R T O G E T H E R IN T H E S E T A B L E S A S “ F O R E I G N B A N K I N G A G E N C I E S . " INF O R M A T I O N . 21 22 23 24 25 26 27 38 39 40 41 7 NOVEMBER 1973 COMMERCIAL BANKING SUBSECTORS COMMERCIAL SUBSECTOR UNADJUSTED QUARTERLY 1972 IN COMMERCIAL I II BANKING UNADJUSTED 1971 II I I IV I 1*72 II I COMMERCIAL I I I IV I I I SUBSECTORS BANKING FLOWS | 1971 STATEMENTS FOR COMPONENT GROUPS (m i l l i o n s o f d o l l a r s ) FLOWS quarterly 1073 II RANKS CURRENT SURPLUS PLANT ♦ EQUIPMENT 1 2 NET ACQ. OF F I NA NC IA L ASSETS TOTAL BANK CREDIT CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES DIRECT AGENCY ISSUES 3 4 5 6 7 8 812 626 84* 628 934 615 1.077 618 1.094 634 1.250 633 1.605 623 8.395 4.772 5.683 -1.611 -2.430 819 18.622 19.132 17.534 -1.364 -2.242 878 17.752 14.874 14.572 1.065 832 233 32.491 34.716 31.035 7.864 5.938 1,926 16.857 11.180 15.161 -b.783 -5.848 65 24.78? 26.437 26.618 -971 -3.303 2.332 21.220 12.083 13.302 -217 -3.077 2.860 5.868 3.046 268 1.606 948 6.064 2.496 471 1.547' 1.550 6.676 1.682 471 2.203 2.320 7.093 1.987 249 2.859 1.998 5.481 949 219 2.353 1.960 4.701 657 -66 2.114 1.996 6.726 1.121 -94 3.085 2.614 5.271 -329 300 2.932 2.368 OTHER SE CU RI TI ES ♦ MTGS. S. * L. O B L I G A T I O N S CO RP OR AT E BONDS HOME MORTGAGES OTHER MORTGAGES 9 10 11 12 13 2.712 1.996 1.081 -365 304 9.402 1.820 6.135 1.447 2.911 1.230 717 1.033 -520 -911 12.222 3.441 9.047 -266 1.598 6.414 3.017 3.845 -448 302 17.690 2.909 13.751 1.030 3.6«1 16.243 1.8?2 15.351 -930 -3.981 20.863 4.057 16.873 -67 -181 8.248 3.007 5.210 31 -1.219 O T H E R CR. EXCL. SE C U R I T Y C O NS UM ER CREDIT bank loans n . e .c . OPEN-MARKET PAPER SECURITY CREDIT 14 15 16 17 18 1.351 1.340 11 1.841 1.805 36 2.685 1.192 1.493 -142 -2.240 2.098 1.417 1.251 166 -2.433 -1.219 -1.214 3.242 1.460 1 .782 -2.039 -3.286 1.247 7.142 8.142 -1.000 INTERBANK CLAIMS V A U L T C A S H ♦ MEM. BK. RES. D E P . A T F G N . B A N K I N G AG * 19 20 21 208 1 2 2.818 2.334 3.667 2.487 646 553 829 624 3 4 5 6 7 8 56.570 51.054 50.279 7.017 3.188 3.829 77.260 73.494 68.824 5.954 2.098 3.856 15.50? 17.008 17.312 -966 -1.366 400 9.864 7.279 6.975 -162 -1.514 1.352 9 10 11 12 13 23.865 12.783 1.274 5.584 4.224 25.314 7.114 1.410 8.962 7.828 7.644 4.413 370 1.517 1.344 4.425 888 267 1.948 1.322 14 15 16 17 18 19.397 6.689 11.922 786 775 37.556 10.084 27.676 -204 4.670 10.634 2.548 8.127 -41 -304 19 20 21 4.010 4.132 -122 1.527 -1.016 2.543 -924 -978 54 805 624 27.075 25.871 ?2.960 7.690 6.190 1.500 22 1.506 2.239 -582 1.234 938 -368 1.461 2.435 384 1.995 23 24 25 26 54.370 13.382 2.231 11.151 74.616 19.796 706 19.090 14.07? 9.503 3.892 5.611 9.688 -1.632 508 -2.140 26.197 18.831 1.249 17.582 8.374 -6.121 -1.429 -4.692 17.171 5.170 343 4.827 17.770 1.633 387 1.246 31.301 16.435 19.114 -1 0. 9* 2 515 1.405 17.709 -11.467 22.591 6.025 -956 6.981 20.831 -4.807 -2.224 -2.583 27 28 29 41.103 8.6«5 32.418 42.805 9.760 33.045 6.690 1.003 5.687 7.606 4.544 3.062 10.417 1.689 8.728 10.336 -1.546 11.882 10.038 2.614 7.424 10.930 5.377 5.553 11.501 3.315 8.186 19.853 10.852 9.001 11.719 4.249 7.470 14.108 9.069 5.039 31 32 33 717 1.061 -27 1 .051 1 .733 -200 88 -1.378 -435 68 1 .280 •1 1 2 146 -177 68 453 2.060 -45 94 539 -285 137 -621 130 367 -245 0 -68 2.594 275 -100 -719 -290 -19 1 .756 10 0 34 35 36 37 38 39 40 1.572 82 -296 1 .288 47 309 142 458 -369 1 .942 -1.243 339 -392 181 2.085 -1 55 1.605 23 -43 446 -85 -23 -64 202 0 -4 -196 -28 1.817 -343 -1.155 0 -94 -253 -2.047 -1.670 99 1 -1.958 0 -6 596 1.695 626 -900 1.735 0 -135 369 1.760 412 712 972 0 -140 -196 -950 263 1.139 -1.992 339 -111 -588 523 -1.852 32 1 .084 71 531 657 2.591 -74 -243 2.871 -18 -339 394 874 897 2.750 -2.657 -194 -584 662 41 42 43 -3.652 -4.752 1 .100 8.449 „ 497 7.952 -2.495 -1.55? -943 2.346 978 1 .368 -3.073 -1.574 -1.499 3.688 622 3.066 -289 -90 -199 3.797 588 3.209 1.253 -623 1.876 4.207 -279 4.486 3.358 394 2.964 8.909 205 8.704 44 -1.716 -1.464 -1.337 29 -697 165 -1.235 337 -731 38 -1.574 593 -637 DOMESTIC AFFILIATES OF COMMERCIAL 30 31 32 33 INTERBANK LIABILTIES F.R. FL OA T B O R R O W I N G AT F.R. BA NK S DE M. D E P. OF FG N. BK. AG. T I M E D E P . O F F G N . BK. AG. LOANS FROM AFFILIATES L O A N S F R O M F O R E I G N B K . AG. 34 35 36 37 38 39 40 MI SCELLANEOUS LIABILITIES LIAB. TO F O RE IG N BRANCH ES OTHER 41 42 43 D !ISCREPANCY 4 5 6 ET -214 -120 -94 -74 -68 -6 -611 -476 -135 -172 -32 -140 223 334 -111 1 .094 563 531 20 359 -339 533 1.117 -584 4 5 6 195 -376 571 -634 664 -1.298 157 41 116 -102 16 7 -269 -214 73 -287 -74 199 -273 -611 -201 -410 -172 397 -569 223 269 -46 1.094 819 275 20 82? -807 OF CORPORATE EQUITIES CORPORATE BONDS SECURITY R.P.'S PR OF IT TAX LI AB IL IT IE S ET I N C R E A S E IN L I A B I L I T I E S C O MM ER CI AL PAPER ISSUES MISCELLANEOUS LIABILITIES -102 -98 -4 AGENCIES 27 28 29 CDtS other 533 948 -415 157 200 -43 «N" TIME DEPOSITS LARGE NEGOTIABLE 1 2 3 -634 -242 -392 CORPORATIONS 22 FOREIGN BANKS ACC). O F F I N A N C I A L A S S E T S 1 CREDIT MARKET INSTRUMENTS U.S. GO VE RN ME NT SECURITIES S. ♦ L. G O V T . S E C U R I T I E S CORPORATE BONDS BANK LO AN S N.E.C. o p e n -m a r k e t PAPER 1 2 3 4 5 6 7 1.218 116 -234 -193 0 543 0 1.164 842 304 -865 297 1.106 0 1.147 -327 -181 -17 -1 -12R 0 -54 414 0 8 0 406 0 -1.160 473 -14 -2 1 488 0 679 -636 203 -345 -8 -486 0 255 -113 -97 -20 0 4 0 2.173 466 109 15 0 342 0 -1 . 9 4 3 1 • 1?5 A9 -515 305 1 .246 0 4.252 1.349 ?9 -59 -8 1 .387 0 3.98? 533 -29 -12 -1? 586 0 -336 534 23 39 5 467 0 8 9 10 11 12 13 -17 0 1.288 47 142 -358 12 9 87 -1.243 339 181 829 17 0 1 .605 23 446 -617 -27 0 202 0 -196 -447 -22 0 -1.155 0 -253 -203 87 0 -1.958 0 596 2.590 42 0 1.735 0 369 -1.778 0 0 972 0 -196 931 0 87 -1.992 339 -588 -914 0 -335 1.084 71 657 1.426 0 -160 2.871 -18 394 362 0 -142 -2.657 -194 662 1.461 14 15 16 17 18 1.218 -387 260 -122 1.641 1.164 -3.444 -462 2.543 844 1.147 1.254 38 54 46 -54 -1.153 114 11 388 -1.160 -2.435 52 36 1.225 679 -1.768 97 1.493 1.392 255 -1.272 76 2.098 -801 2.173 -192 -274 166 1.710 -1.943 -212 -361 -1.214 -1.457 4.252 -473 223 1.782 1.985 3.98? 695 95 1.247 1.423 -336 27 -74 -1.000 -172 19 20 21 -174 683 -857 1.683 436 1.247 -245 14 1 -386 586 277 309 -38 235 -273 -535 -214 -321 154 431 -277 763 410 353 1.301 -191 1 .492 735 2 733 52? 299 223 883 410 473 MISCELLANEOUS LIABILITIES DUE TO FO RE IG N AF FILIATES OTHER 561 7 81 135 -8 1 -47 -2 -45 473 -50 ?o -54 -53 7 1 -9 -13 4 -16 -35 -19 -67 -59 -9 1 0 -9 9 51 -15 -21 -27 -31 3 1 0 -11 11 33 ET ACQ. OF F I N A N C I A L A S S E T S DEMAND DEPOSITS ♦ CURRENCY CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES S. ♦ L . G O V T . S E C U R I T I E S CORPORATE BONDS MORTGAGES HOME MORTGAGES COMMERCIAL MORTGAGES MI SCELLANEOUS ASSETS -50 -35 -15 Rm Nk S 1 2 3 4 5 6 7 8 9 10 509 127 31 1 161 17 1 132 107 25 71 509 11 http://fraser.stlouisfed.org/ 111/73 FIGURES Federal Reserve Bank of St. Louis IN U . S . 23 24 25 26 ET ACQ. OF F I N A N C I A L A S SE TS BANK LOANS N.E.C. L OANS TO AF FILIATE BANKS 195 -114 309 ACT ASSETS RANKS 1 2 3 FDGF MISCELLANEOUS 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 * NET U.S. GO VE RN ME NT OTHER CORPORATE EQUITIES SECURITY CREDIT O E M . D E P O S I T S AT CO ML . T I M E D E P O S I T S AT C O M L . LOANS TO BANKS M I SC EL LA NE OU S ASSETS 2 3 4 5 6 7 8 9 B A N K S 10 B A N K S 11 12 13 IET I N C R E A S E I N L I A B I L I T I E S D E M A N D D E P . IN M O N E Y S T O C K TIME DEPOSITS D E P O S I T S OF BA NK S LOANS FROM BANKS 14 15 16 17 18 19 20 21 POSSESSIONS 466 169 287 205 69 4 9 22 -13 10 -36 35 92 25 13 0 54 74 -20 -163 369 64 72 69 -25 1 27 6 21 233 219 7 35 37 -27 0 25 6 19 177 -110 47 18 -39 54 1 2 4 -2 -175 -107 62 -26 -31 27 1 -23 15 -38 -143 466 -36 369 219 -110 -107 122 • 53 214 140 -4 1 77 5 72 -145 122 ARE TE NT a TIVF ESTIMAT f S BASED ON INCOMPLETE INFORMATION. 561 v NET INCREASE IN D E P O S I T LIAB. 1 2 3 4 5 6 7 8 9 10 11 7 NOVEMBER 1973 NONBANK FINANCE SUMMARY NONBANK FINANCE SUMMARY 9 SECTOR STATEMENTS OF SAVING AND INVESTMENT (MILLIONS OF DOLLARS) UNADJUSTED QUARTERLY UNADJUSTED QUARTERLY FLOWS FLOWS 19 r 1 1972 I II III 1972 IV I II II I PRIVATE NONBANK FINANCIAL 1973 III III INSTITUTIONS IV II I - TOTAL 4.122 1.852 5.200 2.086 1.131 434 1 .2 0 2 438 1.007 600 1.059 332 1.561 630 1.591 537 989 587 1.323 6?8 1.547 627 1.713 622 85.637 812 152 209 104.509 1.791 -87 41b 20.108 -70 54 -172 18.329 80 24 -7 1 25.048 793 24 18 22.981 -1.046 18 412 26.075 719 18 24.028 443 -37 -23* 31.425 1.675 -86 352 22.741 75 56 563 26.210 676 0 203 17.195 -93 0 -970 15.433 80.480 5.71b 3.471 13.473 30.247 17.373 6.440 3.760 3.924 289 2.261 5.357 14.605 -733 743 3.344 5.237 3.66? 941 1.411 857 70 -593 3.782 13.853 l.?15 1.467 1.514 5.280 3.457 1.491 -571 626 64 -29 4.933 17.983 -203 1.054 5.743 5.096 4.279 1.759 255 924 70 303 2.836 17.388 3.010 612 2.368 4.637 3.713 49 2.999 2.053 73 1 .247 4.626 18.626 9 10 11 12 13 14 15 16 17 18 19.252 60.802 2.465 4.099 14.949 18.399 14.089 3.283 3.518 2.519 291 1.600 3.938 8.062 3.990 1.917 298 1.378 74 746 2.119 21.608 1.865 703 3.081 8.661 4.001 1.869 1 .428 372 73 -316 5.852 ?2.858 1.442 i.n4 4.086 8.887 5.669 2.605 -965 121 69 584 1.527 20.538 2.804 354 1.921 6.283 4.033 1.009 4.134 - 1.120 65 1.037 3.411 22.450 145 965 3.013 8.818 5.188 2.783 1.538 -1.632 6? 1.040 2.484 16.763 -790 880 1.389 5.744 4.896 2.846 1.798 -720 58 -327 CORPORATE SHARES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SE CU RI TI ES S. ♦ L. O B L I G A T I O N S CORPORATE ♦ F0REI6N BONDS HOME MORTGAGES OTHER MORTGAGES CONSUMER CREDIT OTHER LOANS SECURITY CREDIT TRADE CREDIT MISCELLANEOUS ASSETS 19 20 21 22 82.795 40.826 25.356 2.718 100.59b 46.395 24.801 1.465 19.697 11.00? 6.293 97 17.639 7.471 6.303 657 24.331 9.107 6.550 1.219 21.888 14.711 4.719 77 1 25.120 10.962 7.032 -27 22.721 10.104 6.476 259 30.866 10.618 6.574 462 22.034 12.522 7.301 252 25.740 8.806 7.102 146 14.863 126 6.899 429 N E T I N C R E A S E IN L I A B I L I T I E S TIME ♦ SAVINGS ACCOUNTS INSURANCE ♦ PENSION RESERVES C O R P O R A T E E Q U I T I E S (1) 23 24 25 26 27 28 29 30 6.206 4.204 1 .994 13 4 1 .397 -1.523 1.168 807 l.?34 34 1. 7 2 3 -2.630 -181 -2.449 707 859 271 17 -1.032 592 19 6 396 4.320 1.430 76 47 546 -2.f>79 15.915 5.815 1.153 480 5.919 2.54H 2.505 43 1.922 299 -62 1.470 5 51 155 -1.743 20 1 -1.944 4.240 1.144 810 204 1.136 946 863 83 3.283 1.341 232 115 1.089 506 -155 661 8.454 1.860 106 11 0 3.539 2.839 1.596 1.243 3.167 863 10 1 128 1.437 638 197 441 8.203 810 444 14? 3.316 3.491 766 2.725 5.692 871 -687 158 1.183 4.167 1.014 3.153 31 32 33 1.134 -127 6.682 4.098 304 7.617 -552 -391 2.080 81 124 2.29b 3.030 -168 273 -638 287 2.100 1.021 -288 2.180 -155 231 2.523 3.870 74 814 -4.685 386 3.091 -716 -24? 2.450 -1.253 281 2.689 34 -572 -800 286 74 -310 -366 -24 -253 -157 -12 459 -1.241 . 1 1*6 2 .2 2 1 SAVINGS1 AND -1 1 2 -6 0 1 1 .0 2 2 LOAN CURRENT SURPLUS PH YSICAL INVESTMENT 1 2 N E T ACQ. OF F I N A N C I A L A S S E T S DEMAND DEPOSITS ♦ CURRENCY T I M E D E P O S I T S (M S B ) S*L SHARES (CREDIT UNION) 3 4 5 6 CREDIT MARKET INSTRUMENTS CORPORATE BONDS M O R T G A G E L O A N S IN P R O C E S S OTHER MORTGAGES BANK LOANS N.E.C. OTHER LOANS OPEN-MARKET PAPER FHLB LO AN S SECURITY CREDIT TAXES PAYABLE MISCELLANEOUS LIABILITIES 952 907 237 240 244 228 225 226 228 231 230 232 30.120 516 29.367 5.205 17.939 6.115 10 8 237 37.268 601 36.479 4.280 24.698 7.304 197 18 8 7.133 258 7.838 768 5.046 1 .964 60 -963 6.875 -53 7.561 484 5.598 1.426 53 -633 6.877 414 5.965 -199 4.588 1.564 12 498 9.081 -89 8.456 2.701 4.197 1.563 -5 714 9.423 228 8.998 173 6.778 1.961 86 19 7 9.453 -38 9.995 922 7.310 1.687 76 -504 9.311 500 9.030 484 6.413 2.093 40 -219 10.811 -89 10.108 2.718 5.413 2.059 8 702 9.810 221 9.339 -290 7.514 2.028 87 259 4.513 -38 4.990 -1.692 4.388 2.210 84 -439 10 11 12 13 14 15 16 17 28.924 28.068 3 1 .994 688 -2.679 59 794 35.639 32.833 1 .972 1.153 776 43 123 711 6.820 7.463 -795 1 .234 420 -2.449 -9 1 61 6.872 5.330 777 271 110 396 21 744 6.020 6.169 704 76 320 299 19 -863 8.659 10.371 -2.267 5 -328 -1.944 44 511 9.090 7.721 1.319 810 426 83 5 45 9.239 7.402 1 .034 232 141 661 40 763 8.651 7.339 1.886 106 537 1.243 34 -608 10.312 8.890 201 101 -341 441 61 1.160 9.329 5.988 3.317 444 148 2.725 21 3 3.946 467 2.984 -687 518 3.153 60 437 NET -432 1.139 -268 698 -260 2.563 -333 3.428 DISCREPANCY MEMOt FHLB LOANS -244 -722 237 -604 -76 -194 -108 12 284 -2.138 -1.136 1 .058 -40 -2.163 345 963 - - - - - - - - — - - - - - - - - - - - - - --------- — — ■ - - - - - - - — — MUTUAL SAVINGS BANKS 353 424 86 89 92 97 109 110 10.374 -33 152 11.012 342 -87 2.984 -60 54 1.845 -128 24 1.959 188 24 3.687 -135 18 2.796 43 18 2.436 66 -37 2.0032.925 2.15Q 368 -124 190 -86 56 0 108 116 5 6 7 8 9 475 9.452 358 193 4.316 617 9.357 301 4 8J 2.826 108 2.806 205 73 1.505 104 1.512 183 20 241 167 1.994 -87 bl 649 182 3.398 115 125 1.308 202 2.284 97 112 865 134 2.401 32 195 517 09 1.274 57 51 136 186 2.834 84 155 240 111 1.476 -15 -3 -209 10 11 12 13 15 1.299 2.731 100 237 218 328 3.009 2.569 281 -234 122 783 254 709 20 106 -66 76 310 672 36 12 38 333 520 833 11 23 -6 -414 463 537 364 -270 756 224 758 668 -96 71 -191 249 870 627 55 -19 124 -128 918 737 -42 -16 -567 438 874 490 134 -4]1 1.268 -?7 479 1.235 59 -2n -50 373 16 17 9.861 120 10.172 215 2.681 209 1.553 173 2.205 -320 18 -40 -201 -8 -30 18 23 24 25 26 27 28 29 30 31 32 33 1 INCREASE IN L I A B I L I T I E S SAVINGS SHARES CREDIT MARKET INSTRUMENTS M O R T G A G E L O A N S IN P R O C E S S BANK L O A N S N . E . C . FHLB ADVANCES TAXES PAYABLE MISCELLANEOUS LIABILITIES 120 975 -175 -25 LESS DEPOSITS CURRENT 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 SURPLUS 1 95 CORPORATE SHARES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECU RI TI ES STATE ♦ LOCAL OBLIGATIONS -187 CORPORATE BONDS 709 412 33 108 100 -272 2.141 17 8 2.324 -403 2.482 260 1.611 366 -90 -7 -64 -67 -68 73 -12 -970 1.055 104 13 938 -414 358 2 3 4 5 6 7 8 9 HOME MORTGAGES OTHER MORTGAGES CONSUMER CREDIT COMMERCIAL PAPER SECURITY RP»S MISCELLANEOUS ASSETS 10 U 12 13 14 15 MGS D E P O S I T S ELLANEOUS LIABILITIES 16 17 UNIONS 2.897 56 209 2.632 801 47 1.784 3.390 148 418 2.824 628 53 2.143 858 8 -172 1.022 322 U 689 588 8 -71 651 19 11 621 733 19 18 696 224 12 460 32 412 528 375 13 140 902 45 -112 969 80 13 876 561 43 -234 752 85 14 653 955 28 352 575 88 13 474 1.150 13 563 574 95 13 466 1.207 3 203 1.001 98 13 890 8 2.897 3.390 858 588 733 972 902 561 955 1.150 1.207 111/73 FIGURES ARE TENTATIVE SURPLUS 5 7 3 NE T ACQ. OF F I N A N C I A L A S S E T S -225 DEMAND DEPOSITS ♦ fURRENCY 0 TIME DEPOSITS 2.339 258 1 2 3 4 5 6 7 972 CURRENT NE T ACQ. OF F I N A N C I A L A S S E T S DEMAND DEPOSITS ♦ CURRENCY CREDIT MARKET INSTRUMENTS U.S. GO VE RN ME NT SE CU RI TI ES HOME MORTGAGES OTHER MORTGAGES CONSUMER CREDIT MISCELLANEOUS ASSETS 114 » 0 it) 1 1 -40 19 20 21 22 - - - - - - - - 2 3 4 c redit 16 17 18 34 discr e pa nc y 1 3.368 182 13 14 15 ASSOCIATIONS 2 3 4 5 6 7 8 9 18 19 7 8 9 10 11 12 (1) ESTIMATFS BASED ON INCOMPLETE INFORMATION. 73 ET ACQ. OF F I N A N C I A L A S S E T S DEMAND DEPOSITS * CURRENCY SAVINGS ♦ LOAN SHARES CREDIT MARKET INSTRUMENTS U.S. GOVERNMENT SECURITIES HOME MORTGAGES CONSUMER CREDIT CREDIT INCLUDES UNION INVESTMENT SHARES COMPANY SHARES* 1 2 7 NOVEMBER 1973 INSURANCE ♦ PENSION FUNDS INSURANCE ♦ PENSION FUNDS 10 10 SECTOR UNADJUSTED QUARTERLY 1972 1971 S T A T E M E N T S OF S A V I N G AND I N V E S T M E N T (m i l l i o n s o f d o l l a r s ) FLOWS 1 I UNADJUSTED 19 ’1 II I II 1 I IV LIFE 1*72 ii I INSURANCE in IV 1 1 QUARTERLY I 1973 II FLOWS III COMPANIES 1 2 949 1.448 1 .628 961 235 325 242 339 245 461 368 131 399 286 426 285 435 259 469 337 479 30? 487 259 3 4 12.681 5 14.766 13 0 2.755 -67 3.274 25 3.218 256 3.774 -599 3.399 38 0 3.928 45 3.665 304 4.656 -346 3.831 237 4.960 -34 5 6 7 e 9 10 li 12 13 3.640 8.118 -155 57 5.466 - 2 . 0 72 3.193 1.629 918 3.500 10.129 -236 -22 7. 19 4 -2.138 3.961 1.370 1.007 848 1 .738 -150 25 991 -S4? 518 896 236 797 2.216 43 ?7 1.224 -621 863 680 ?36 872 1 .868 87 -3 2.094 -512 1.257 -1.055 222 1.057 3.070 12 0 -12 1.705 -773 701 1.329 ?46 1.048 1.716 -193 4 1.800 -563 686 -18 255 522 3.105 34 -5 1.389 -670 936 1 .421 256 873 2.238 -197 -9 2.300 -132 1.638 -1.362 250 870 3.8M8 64 -41 1.421 -276 544 2.176 244 1.138 2.215 -4 73 1.48? -374 701 337 24 1 894 3.865 20 77 843 -10 1.103 1.832 235 14 15 16 17 18 13.336 6.101 5.175 -70 2.130 14.716 7.241 4.600 15 2.860 3.419 1.527 1.32? -234 804 3.493 1 .567 1.382 80 464 3.321 1.561 1.326 -99 533 3.335 1 .498 1.197 144 496 3.695 1.842 1.178 -201 876 3.839 1.982 1.120 96 641 3.847 1.919 1.105 — ?4 847 4.143 1.918 1.309 182 734 4.107 1.926 1.251 -207 1.137 4.336 1.900 1.406 87 943 19 156 617 574 122 -113 -202 409 52 358 -381 453 -396 PRIVATE PENSION 7.256 -163 5 .6 9 8 169 1 .717 -325 1 .^47 110 2.366 -134 87fl -250 1 .456 -34 1 .489 175 1 .875 278 2.146 195 963 -167 1 .689 15 3 4 5 6 7 8 8.915 -1.564 -296 -653 -615 68 7.065 -1.313 958 -1.588 -683 -223 2.908 -«97 -423 -273 -201 31 1.737 -524 40 -394 -170 24 1.879 625 97 629 -101 -4 1.927 -763 337 -788 -312 -36 2.149 -589 -168 -312 -109 -70 1.044 342 205 279 -142 -72 1.945 -303 584 -767 -120 -45 1.259 708 308 5?4 -124 -16 1.103 1? -119 22* -94 15 1.138 555 81 574 -100 -19 ♦ LOCAL GOVERNMENT EMPLOYEE RETIREMENT 6.824 -91 7.262 -17 1.727 15 2.007 10 1 .297 -100 1.146 -47 2.556 -102 1.885 68 1 .675 64 1 .9?8 -67 2.96? 17 4 1.904 50 3 4 5 6 7 8 9 10 3.185 3.730 -1.162 -815 -347 -174 4.790 276 2.973 4.306 -189 -92 -97 -178 4.804 -131 763 949 -584 -416 — 1 6fl 2 1.463 68 961 1 .036 301 92 209 -139 796 78 769 628 -335 -101 -234 -45 898 110 513 680 -104 -25 -79 -60 882 -38 941 1.717 -57 -142 85 36 1.781 -43 773 1 .0 4 4 -90 4 -94 -162 1.335 -39 746 865 62 71 -9 8 806 -11 953 1.042 79 75 4 -273 1.168 68 900 1 .88ft 419 -100 519 -3? 1.241 260 875 979 325 -200 525 -55 609 100 INSURANCE 1 1.954 2.583 45? 538 594 628 651 665 639 677 690 720 6.616 77 6.202 81 1.762 19 1.814 18 1.768 18 1.430 20 1.309 20 1.619 20 1.844 21 1.588 21 1.601 2? 1.822 22 4 5 6 7 8 9 10 2.471 3.777 -396 3.910 285 -22 291 2.957 2.875 -368 3.304 -63 2 289 749 924 -169 1.044 56 -7 70 737 995 -82 1.102 -17 -8 64 714 966 -7 969 11 -7 70 S88 749 -131 873 7 0 73 685 530 -255 817 -33 1 74 888 638 -127 798 -35 2 73 796 958 145 816 -2 -1 69 8?7 675 -189 830 33 1 65 344 1.173 -90 835 4?fl 0 6? 450 1.292 50 852 389 1 58 11 12 4.400 600 12 0 3.680 994 153 -49 890 1.045 159 -12 898 958 153 -98 903 1.126 15 0 66 910 1.053 150 -14 917 1.120 150 47 923 1.101 150 21 930 1.163 1* 4.D54 599 -115 3.570 150 76 937 1.11? 150 18 944 1.173 150 72 951 15 -608 781 -316 -231 -216 324 395 166 -104 252 20 1 71 1 1 1/73 FIGURES ARE. T E N T A T I V F ESTIMATES BASED ON 3 4 OF FINANCIAL ASSETS DEPOSITS ♦ CURRENCY CORPORATE SHARES CREDIT MARKET INSTRUMENTS U.S. G O V E R N M E N T SECURITIES STATE ♦ LOCAL OBLIGATIONS CORPORATE BONDS HOME MORTGAGES OTHER MORTGAGES OTHER LOANS MISC EL LA NE OU S ASSETS 5 6 7 8 9 10 11 12 13 N E T 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 TAXES PAYABLE MISCELLANEOUS LIABILITIES 14 15 16 17 18 DISCREPANCY 19 NET ACQ. DEMAND OF FI NA NC IA L ASSETS DEPOSITS ♦ CURRENCY CORPORATE SHARES CRFDIT MARKET INSTRUMENTS U.S. GOVE RN ME NT SECURITIES CORPORATE BONDS HOME MORTGAGES MI SC E L L A N E O U S ASSETS 1 2 3 4 5 6 7 8 NET ACQ. DEMAND OF FI NA NC IA L ASSETS DEPOSITS ♦ CURRENCY CORPORATE SHARES CREDIT MARK ET INSTRUMENTS U.S. GO VE RN ME NT SECURITIES OIRECT AGENCY ISSUES STATE ♦ LOCAL OBLIGATIONS CORPORATE BONDS MORTGAGES 1 2 3 4 5 6 7 8 9 10 COMPANIES 2 3 13 NET ACQ. DEMAND FUNns 1 2 OTHER 1 2 FUNDS 1 2 STAT CURRENT SURPLUS PHYSICAL INVESTMENT INCOMPLETE INFORMATION. CURRENT NET ACQ. OEMAND SURPLUS OF F I N A N C I A L AS SE TS DEPOSITS ♦ CURRENCY CORPORATE SHARES CREDIT MARKET INSTRUMENTS U.S. GO VE RN ME NT SECURITIES STATE ♦ LOCAL OBLIGATIONS CORPORATE BONDS COMMERCIAL MORTGAGES TRADE CREDIT 1 2 3 4 5 6 7 8 9 10 NET I N C R E A S E IN L I A B I L I T I E S CORPORATE EQUITIES TAXES PAYABLE POLICY PAYABLES 11 12 DISCREPANCY 15 13 14 SECTOR S T A T E M E N T S OF S A V I N G AND I N V E S T M E N T (m i l l i o n s o f C o l l a r s ) UNADJUSTED QUARTERLY FLOWS 1 1971 1972 -86 -342 1 1 UNADJUSTED QUARTERLY FLOWS 1971 III II 121 93 1*72 1 | IV -168 1 II -262 finance 177 1 I IV II I 1973 II T Il l 164 -421 -170 34 15 4 CURRENT SURPLUS OF GROUP 1 companies 1 2 3 4 5 4.396 284 1.053 1.291 1.768 11.020 262 4.132 3.819 2.807 1.457 71 497 17? 717 -355 68 -38 781 -1.166 2.500 68 361 1.276 795 1.370 67 709 -450 1.044 2.573 66 706 1.051 750 2.071 65 1.265 1 .085 -344 5.006 64 1.452 2.133 1.357 1.623 63 103 4ft 1 1.056 3.660 6? 969 1.747 88? 1.634 61 400 1.791 -618 NE T ACQ. OF F I N A N C I A L AS S E T S DEMAND DEPOSITS ♦ CURRENCY HOME MORTGAGES CONSUMER CREDIT O T H E R L O A N S (T O B U S I N E S S ) 1 2 3 4 5 6 7 8 9 4.212 3.788 48 376 9.117 5.441 3.h3l 4b 1.553 543 1.191 -181 -497 943 -1.324 -116 2.980 1.309 217 1.454 964 1.334 -29 -341 1.852 1.004 600 248 1.419 1.303 934 -818 4.882 1.800 2.126 956 1.830 713 780 337 3.608 632 2.231 745 1.279 702 129 448 N E T I N C R E A S E IN L I A B I L I T I E S CORPORATE BONDS BANK LOANS N.E.C. OPEN-MARKET PAPER 6 7 a 9 PHYSICAL INVESTMENT MULTI-FAMILY STRUCTURES NONRESIDENTIAL STRUCTURES l 2 3 4 5 6 7 8 PEAL ESTATE INVESTMENT TRUSTS I 2 3 404 13 4 270 1.125 37 1 754 109 36 73 99 33 66 139 46 93 201 66 135 344 114 230 252 83 169 3?8 108 220 291 96 195 325 107 218 363 120 243 4 5 6 7 8 2.593 748 742 1.054 49 5.350 1.176 1.900 1.768 506 609 172 160 250 27 627 190 166 260 11 751 228 208 314 1 1.389 340 443 507 99 1.311 479 271 446 115 934 14 533 255 132 1.716 343 653 560 160 1.285 2P0 396 475 13 4 1 .427 311 440 524 15? 1.582 344 487 583 168 NET ACQ. OF F I NA NC IA L ASSETS HOME MORTGAGES MULTI-FAMILY MORTGAGES COMMERCIAL MORTGAGES MISCELLANEOUS ASSETS 9 10 11 12 13 14 2.997 938 1 . 9 91 134 45 89 6.475 1 .498 4.826 480 158 322 718 292 410 34 11 23 726 282 427 17 6 11 890 234 636 47 16 31 1 .590 348 1.241 51 17 34 1.655 502 1.069 204 67 137 1.186 338 830 115 38 77 2.044 310 1.686 11 0 36 74 1.576 440 1.136 128 42 86 1.75? 474 1.278 14? 47 95 1 .945 516 1.429 158 52 106 N E T I N C R E A S E IN L I A B I L I T I E S CORPORATE EQUITIES CREDIT MARKET INSTRUMENTS MORTGAGES MULTI-FAMILY RESIDENTIAL COMMERCIAL MORTGAGES 15 16 17 416 66 1 780 374 1.512 2.460 264 112 0 -84 182 312 1 21 0 468 136 512 542 140 110 615 38 14 663 60 876 640 15 0 998 -140 178 937 21 169 536 566 18 68 151 16 17 1 84 18 48 0 0 0 20 OPEN-END INVESTMENT CORPORATE BONDS BANK LOANS N.E.C. COMMERCIAL PAPER MISCELLANEOUS 9 10 11 12 13 14 15 16 17 LIABILITIES 18 COMPANIES 1 -598 -1.158 7 -49 -350 -446 -18 -43 -651 -415 -22« -97 2 3 583 139 -1.791 47 -341 -I 167 -4 482 52 -173 -51 -697 66 -272 -8 -649 40 -753 402 -706 -80 -334 63 4 5 6 7 a 445 -1 -291 624 -334 -1.821 -17 130 158 -305 268 -608 -255 -111 -24? 134 37 -180 352 -135 -550 980 102 380 498 -473 351 -1 212 140 -348 -415 12 -113 -314 -745 481 142 93 246 -255 -434 -23 -34 -377 -1.297 142 292 -195 45 -564 -62 81 -53? 389 -470 73 38 -341 376 9 1.181 -633 -348 216 832 273 -679 -229 2 -338 -478 -237 CURRENT SURPLUS NET ACQ. DEMANO 1 OF F I N A N C I A L A S S E T S DEPOSITS ♦ CURRENCY CORPORATE SHARES CREDIT MARKET INSTRUMENTS U.S. GO VE RN ME NT SE CURITIES CORPORATE BONDS COMMERCIAL PAPER NET SHARE ISSUES 2 3 4 5 6 7 8 9 S E C U R I T Y B R O K E R S ANO D E A L E R S 1 2 3 4 5 6 7 8 1 .297 22 121 -1.365 -1.599 113 121 2.519 4.332 28 142 238 212 -116 142 3.924 -553 12 -287 -1.135 -447 - 4 01 -287 857 140 26 -688 176 407 457 -688 626 3.097 12 1.082 1 .079 -85 82 1.082 924 -573 6 -958 -1.674 -402 -314 -958 2.053 1 .047 7 -51 -287 -290 53 -50 1.378 -76 7 -497 42 662 -123 -497 372 3.934 8 1.648 2.157 242 2*8 1.647 121 -4.618 7 -1.271 -2.234 -647 -317 -1.270 -1.120 -713 5 379 535 65 9? 378 -1.63? 9 10 11 1.134 652 482 4 . 09b -552 -336 -216 81 267 3.030 2.782 248 -638 1.021 1.334 -313 -155 57 -212 3.870 3.534 336 -4.685 -1.000 -186 -716 -514 -20? 3.925 173 362 II1/73 FIGURES ARE TENTATIVE ESTTMATFS BASED ON INCOMPLETE INFORMATION. -4.404 -281 - 1 . 2 2 1 NE T ACQ. OF F I N A N C I A L A S S E T S DEMAND DEPOSITS ♦ CURRENCY 5 -498 CORPORATE SHARES —8 CREOIT MARKET INSTRUMENTS 459 U.S. GO VE RN ME NT SE CU RI TI ES STATE ♦ LOCAL OBLIGATIONS 31 -498 CORPORATE BONDS SECURITY CREDIT -720 -1.253 -1.069 -184 NET INCR. IN L I A B . - S E C . CREDIT FROM B A N K S CUSTOMER CREDIT BALANCES 1 2 3 4 5 6 7 8 9 10 11 7 NOVEMBER 1973 * I T Of THE WORLD REST OF THE WORLD 12 SFCTOR UNADJUSTED QUARTERLY 1971 1972 ST A T E M E N T S OF S A V I N G AND (M IL LI ON S OF DO LL AR S) UNADJUSTED FLOWS 1 1 II 1971 III IV 1 I 1972 I REST 1 2 3 4 5 808 66.288 65.480 3.598 2.790 -4.610 73.462 78.072 3.744 8.354 12 INVESTMENT 218 17.230 17.012 908 690 II OF THE III IV 1 1 T 1973 II quarterly flows III WORLD -1.266 16.388 17.654 925 2.191 373 16.445 16.072 9b9 586 -880 17.387 18.267 973 1 .853 -1.489 17.897 19.386 982 2.471 -2.410 17.532 19.942 923 3.333 169 20.646 20.477 866 697 593 22.305 21.712 752 159 471 24.679 24.208 864 393 A63 4.213 544 -170 599 3.466 3.840 7 1.058 332 4.553 6.295 3 123 616 2.548 5.016 0 511 1.071 3.874 10.104 0 -7?2 1.188 238 2.437 Q 606 843 -616 24,586 25.202 844 1.460 EXPORTS IMPORTS (U.S. BALANCE* 567 NET F I N A N C I A L NET ACQ. OF 813 GOLD ♦ SDR 0 U.S. DEM. 441 U.S. TIME -81 SIGN REVERSED) INVESTMENT FI NA NC IA L ASSETS * S <I> DEP. ♦ CURRENCY DEPOSITS 13.575 22.694 1.334 2*4 547 11.430 19.364 554 1.522 2.618 3.192 6.169 65? 123 677 7.162 9.285 450 -235 442 2.867 4.923 -2 675 -239 IS 836 26.415 26.302 272 -159 2.268 8.384 8.402 44 -62 -3 7.365 6.735 -64 694 ?30 9.360 8.701 151 508 531 3.380 4.495 21 -1.136 693 2.995 3.015 69 -89 165 249 10 4 25 12 0 323 5.145 5.329 -142 -42 1 .0«7 -5 -46 92 -51 1.301 8.205 7.806 60 339 151 -2.189 -2.837 87 561 1.000 -443 -1.604 133 1.028 16 17 -38 84 55 817 -92 -85 -86 -26 -22 360 14 36 -13 312 -26 18 4 80 285 -56 97 * -68 5 4?4 18 -6.768 3.146 -2.468 -850 240 -498 1.730 -73 1.987 91 3.080 -533 19 -4.069 -116 -2.583 933 160 2.053 -1.411 1 -1.058 1 .255 -425 -1.680 -1.339 184 1.395 408 -361 -545 341 183 1.206 998 178 -1.249 -814 160 2.641 -277 253 115 693 475 1.91? 615 221 -1.369 23 9.119 -1.731 7.934 -155 2.977 -186 2.123 -923 2.056 6 3.350 -63 374 93 1.742 -119 2.468 -A 6 6.230 -220 2.199 -A 246 13 NE T I N C R E A S E IN L I A B I L I T I E S U.S. OFF. FGN. EXCHANGE ♦ N F T IMF P O S I T I O N 22 23 24 25 26 27 28 27 5.698 940 2.635 2.123 -412 3.844 1 .0?6 2.413 405 109 1.560 268 663 629 -7 1.885 312 1 .298 275 -149 1.422 78 923 421 -46 988 483 -6 51 1 -76 438 422 660 -664 -8 1 438 -128 652 -86 -209 1 .9A0 249 1 .0*7 644 -166 3.463 115 2.542 806 -39 1.831 167 731 933 -50 -655 150 -918 113 F O RE IG N CO RP OR AT E SHARES CREDIT MARKET INSTRUMENTS CORPORATE BONDS BANK LO AN S N.E.C. OTHER LOANS 24 25 26 27 28 29 30 33 526 84 551 -14 173 20 85 -8 164 67 16 0 -40 -46 -3 500 60 -63 -48 -264 -12? -409 8 12 31 32 33 34 35 4.566 252 1 .352 3.782 -820 4.022 270 3.578 1.381 -1.207 1.335 49 562 1.440 -716 1 *063 10 7 299 1.110 -453 621 62 204 -36 391 2.244 37 1.399 1 .396 -588 5 71 723 -368 -421 1.007 47 1.727 686 -1.453 766 115 — 271 -333 1.255 3.465 77 1.479 2.076 — 167 946 81 1.860 979 -1.983 918 2 801 990 -875 36 -10.785 -3.076 -2.502 -4.971 -2.281 990 -995 -1.220 -1.851 -3.715 155 893 6 7 a 9 10 u 12 13 14 20 21 22 (?) II1/73 FIGURES ARE TE n T a TIVF ESTI*ATFS BASED ON INCOMPLETE INFORMATION. (1) CONSISTS EXCLUDES NET OF U.S. FINANCE U.S. C O R P O R A T E SHARES CREDIT MARKET INSTRUMENTS U.S. GOVT. SECURITIES U . S . C O R P O R A T E B O N O S (2) ACCEPTANCES U 12 13 1* 15 SECURITY CREDIT TKAOE CREDIT 16 17 MI SC EL LA NE OU S ASSETS U. S. B A N K L I A B I L I T I E S TO FOREIGN AFFILIATES O I R . I N V E S T M E N T IN U . S . OTHER MISC EL LA NE OU S LIABILITIES U S G E Q U I T Y IN I B RD * E T C . F G N . C U R R . H E L D IN U . S . U . S . O I R . I N V . A B R O A D (2) OTHER 31 32 33 34 35 36 DISCREPANCY ONLY OF NET PU R C H A S E S FR O M U.S. ACQUISITIONS FROM OTHER SOURCES. IN F O R E I G N ABROAD. 19 20 21 29 30 SECURITY DEBT TRADE DE8T SECURITY ISSUES U.*. INVESTMENT 18 MARKETS TO 7 NOVEMBER 1973 MONETARY AND INSURANCE RESERVES 13 MONETARY ANO INSURANCE RESERVES GOLD* UNADJUSTED 1971 QUARTERLY 1972 OFFICIAL 13 FOREIGN EXCHANGE* TREASURY CURRENCY* (MILLIONS OF DOLLARS) FLOWS 1 1 II UNADJUSTED 1971 III IV GOLO AND 1972 1 1 II I OFFICIAL FOREIGN IV II I HOLDINGS e xchange 1 1 AND INSURANCE QUARTERLY FLOKS 1973 II I RESERVES (1) III ___________ 1 -3.065 -709 -838 -1.373 8 -607 86 -122 -66 -220 -17 2 3 4 -1.334 -743 -591 -554 -10 -544 -652 -252 -400 -450 -250 -200 2 2 0 -544 0 -544 -7 -7 0 -3 -3 0 0 0 0 0 0 0 -9 -Q 0 13 TOTAL U.S. RESERVES 1 0 U.S. GOLD STOCK ANO SDR»S U. S. G O V T . — EX. ST AB . F U N D 0 M O N E T A R Y A U T H O R I T I E S (2) 0 U.S. FOREIGN EXCHANGE POSITION 2 3 4 5 5 -1.731 -155 -106 -923 6 -63 93 -119 -66 -220 -8 13 6 7 8 -381 -141 -240 -35 -210 17b 66 3 63 -72 1 -73 -2 4 -6 -64 -64 0 245 244 1 -134 -238 104 -82 -152 70 -233 -45 -1P8 0 0 0 0 0 0 9 10 il -1.350 -1.349 -1 -120 -118 -2 -252 -274 22 -851 -847 -4 8 7 1 1 2 -1 -152 -151 -1 15 20 -5 16 11 5 13 15 -2 -8 5 -13 13 0 13 96 113 -17 88 107 -19 193 111 8? 64 68 -4 TOTAL U.S. GOVT. LI ABILITY MONE TA RY AUTH OR IT IE S ASSET UNALLOCATED ASSETS 1 2 3 LIFE INSURANCE RESERVES* 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 TREASURY 1 2 3 490 478 12 533 686 -153 143 150 -7 114 84 30 CURRENCY 135 123 12 ANO 173 268 -95 SDR OF F I C I A L FGN. C U R R E N C Y TREASURY MONETARY AUTHORITIES HLDGS NE T IMF P O S I T I O N U.S. GOVERNMENT ASSET MONETARY AUTHORITIES 6 7 8 9 10 11 CERTIFICATES 153 171 -18 111 134 -23 . - - - ———————- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - — - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - INSURANCE AND PENSION FUND RESERVES 1 2 3 6,172 71 6.1^1 7.310 69 7.241 1.545 18 1.527 1.586 19 1.567 1.578 17 1.561 1.516 18 1.498 1.859 17 1.842 1.999 17 1.982 1 . 93 6 17 1.9) 9 1.935 17 1.918 1.943 17 1.926 1.917 17 1.900 4 6.172 7.310 1.545 1 .586 1.578 1.516 1 .#59 1.999 1 . 93 6 1.935 1.943 1.917 NET 5 6 7 8 9 10 11 5 6 7 8 9 10 22.098 2.H43 19.255 5.175 7.256 6.824 20.713 3.153 17.560 4.600 5.69b 7.262 6.623 1.857 4.766 1.322 1.717 1.727 4.967 231 4.736 1.382 1.347 2.007 5.546 557 4.989 1.326 2.366 1.297 11 22.098 20.713 6.623 4.967 5.546 IN A S S E T S (HH) 3.139 -82 3.221 1.197 878 1.146 7.324 2.134 5.190 1.178 1.456 2.556 4.764 270 4.494 1.120 1.489 1.885 > . 48 6 831 ►. 6 5 5 1.10 5 .875 1.67 5 5.194 -1A9 5.383 1.309 2.1*6 1.928 7.506 2.330 5.176 1.251 963 2.962 4.675 -324 4.999 1.406 1.689 1.904 3.139 7.324 4.764 ) . 4A 6 5.194 7.506 4.675 NET CHANGE IN A S S E T S NET CHANGE IN L I A B I L I T I E S INTERBANK (HH) CLAIMS 1 5.582 1.985 1.161 1.266 1.813 638 1.553 3.177 -3.383 3.765 552 8.016 2 3 3.638 494 -2.141 1.125 -1.382 404 874 466 2.364 -559 683 509 -989 -1.251 -790 2.041 -1.045 -174 1.226 234 -2.05*5 -1.231 6.131 2.011 4 5 6 7 8 9 10 1.450 1.572 -214 309 14 2 1.288 *7 3.001 458 1.573 -392 181 -1.243 339 2.139 2.085 54 -43 446 1.605 23 -74 -85 -87 -4 -196 202 0 8 -28 1.474 -94 -253 -1.155 0 -554 -2.047 -679 -6 596 -1.958 0 3.793 1.695 -274 -135 369 1.735 0 1.926 1.760 1.124 -140 -196 972 0 -2.164 -950 1.402 -111 -588 -1.992 339 2.305 523 -1.820 531 657 1.084 71 3.838 2.591 -317 -339 394 2.871 — 18 11 -122 2.543 54 11 36 1.493 2.098 166 -1.214 1.782 12 5.582 1.985 1.161 1.266 1.813 638 1.553 3.177 -3.383 13 14 15 -214 82 -296 1.573 -369 1.942 54 -1 55 -87 -23 -64 1.474 1.817 -343 -679 -1.670 991 -274 626 -900 1.124 ♦ 12 712 16 17 18 19 20 5.796 4.010 3.638 494 -122 412 1.527 -2.141 1.125 2.543 1.107 -924 -1.382 404 54 1.353 1.351 874 466 11 339 1.841 2.364 -559 36 1.317 2.685 683 509 1.493 1.827 -142 -989 -1.251 2.098 2.053 1.417 -790 2.041 166 21 309 -392 -43 -4 -94 -6 -135 -140 22 23 24 25 1.477 1.288 47 142 -723 -1.243 339 181 2.074 1.605 23 446 6 202 0 -196 -1.406 -1.155 0 -253 -1.362 -1.958 0 596 2.104 1.735 0 369 776 972 0 -196 <1> (2) 2 3 -126 874 3.647 -584 662 -2.657 -194 COMMERCIAL BA NK IN 6— TOTAL COMMERCIAL BANKS TO MO NE TA RY AU TH OR IT IE S LOANS FROM AFFILIATES LO A N S F R O M F G N. BK. AG. DEM, DEP. O F FG N. BK. AG TI M E DEP. O F FG N. BK. AG 4 5 6 7 8 9 10 1.247 -1.000 FOREIGN BANKING AGENCIES— D E P O S I T S OF B A NK S 3.765 552 8.016 1.402 263 1.139 -1.820 -1.852 32 -317 -74 -243 3.647 897 2.750 -4.785 -2.433 -1.045 -174 -1.214 5.585 3.242 1.226 234 1.782 869 -2.039 -2.05*5 -1.231 1.247 4.369 7.142 6.131 2.011 -1.000 -U I -2.241 -1.992 339 -568 531 -339 -584 1.812 1.084 71 657 3.247 2.871 -18 394 -2.189 -2.657 -194 662 MONET. 1 AUTH.--MEM. BANK RES* — VAULT CASH NET CHANGE IN A S S E T S 11 12 MONETARY AUTHORITIES F.R. FLOAT L O A N S TO M E M B E R BA NK S 13 14 15 COMMERCIAL BA NK IN G— TOTAL COMMERCIAL BANKS MEMBER BANK RESERVES VAULT CASH O E P O S I T S AT F G N . BK. AG. BANK AFFILIATES— LOANS 16 17 18 19 20 to affiliate banks FOREIGN BANKING AGENCIES 0 E M A N 0 O E P O S I T S AT B A N K S TI ME O E P O S I T S AT B A N K S L O A N S TO B A N K S LINES 1 ♦ 2 EXCLUDE INITIAL ALLOCATION Of SO**S OF S067 MILLION IN J A N U A R Y 1970* S 7 1 ? M I L L I O N IN J A N U A R Y 1971# A M O * 7 1 0 M I L L I O N IN J A N U A R Y 1972. T R A N S A C T I O N S IN S O R ' S A R C I« L I M E 2. ALSO E X C L U O E O F R O M THE TA BL E ARC R E V A L U A T I O N S O F F O R E I G M C U R R E N C Y H O LD IN GS * GOLD* SOR« S* A M O IMF P O S I T I O N . T H E S E A L L O C A T I O N S A**0 R E V A L U A T I O N S AR C i M C L U O E n IN T A t L C S o n 0 U T S T A N 0 I N 9 S . TREASURY SOLO STOCK. II1/73 FIGURES ARC TC NT a TIVF CSTlMATfS BASED ON INCOMPLETE INFORMATTON. CHANGE PENSION FUNO RESERVES: N E T C H A N G E IN L I A B I L I T I E S U.S. GOVE RN M E NT INSURANCE SECTOR LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS S. ♦ L . G O V T . * R T R . F U N D S 21 22 23 24 25 - : ■•; MONEY ANO DEPOSITS S U M M A R Y 14 s--!W«-j MONEY . . I 1971 1972 1 . 1^71 II . •' I IV III 1 17.403 20.384 14.275 13.991 10.887 00 i -971 993 2.281 2*4 1 9 *<>62 18.440 • 12.788 17 6 1.819 1.912 1.745 1.522 1*72 1 DEMANO 2 3 4 5 6 7 8 9 v. s -.a ; •r - v.V'v'i^ MONEY ANO DEPOSITS S U M M A R y Y v V 14 ^ ,.-5 S T O C K A N D T I M E iftflD S " A V I N G S ‘ A C C O l J N T S ( M IL LI ON S OF D O LL AR S) f U N A O J U S T E O -QUARTERLY F L O W S \ --r O--. w:>,-V-•>;■?■j*; ■• 1 DEPOSITS II AMO ^ ----- -I ITT , - Iv UNADJUSTED 0UART£RLY FLOWS 1973 \ ' * 1 ir III CURRENCY 12.797 -2.065 19.204 -10.308 8.325 -562 8. 5 1 8 8.395 5.329 944 277 -53 1.898 123 -3.119 -3*084 -620 37 -1.470 33 7 -1.368 -235 17.945 17.270 11.237 1.946 1.664 666 1.757 675 -7.714 -7.544 -3.976 -1.622 475 -1.079 -1.342 -170 6.606 5.548 3.258 -939 600 806 1.823 1 .058 -471 -594 1 .823 -16 -737 501 -2.165 123 22.929 -11.191 11.014 -8.952 21.541 -1 3. 29 5 21.030 -12.573 -7.939 11.683 -1.858 2.753 -1.468 1 .481 1 .6fl4 13 0 -1.438 3.429 -722 511 11.351 10.745 6.630 -3fl 914 633 2.606 606 -3.818 -4.259 1.275 -552 -1.599 -110 -3.273 441 NET CHANGE IN ASSETS MONEY STOCK DOMESTIC SECTORS HOUSEHOLDS NONFINANCIAL BUSINESS S. ♦ L . G O V E R N M E N T S FINANCIAL SECTORS MAIL FLOAT RE S T OF THE WO RL D 1 2 3 4 5 6 7 8 9 10 3.128 422 4.279 1 .254 1 .259 -2.594 1.719 -91 1 .3*8 2. 1 0 4 -337 -5.134 11 12 13 14 15 17.403 4.408 897 1 19 3.392 20.384 4.032 -284 -96 4.412 12.797 2.040 187 -32 1 .685 -2.065 720 746 1 -27 19.204 2.808 10 92 2.706 -10.308 -2.419 -1.165 -204 -1.050 8.325 4.427 1.376 37 3.014 -562 -2.003 -478 -59 -1.466 22.929 4.027 -17 13 0 3.914 -11.191 234 1.589 41 -1.396 11.014 4.294 619 27 3.64A -8.952 -4.172 -2.910 63 -1.325 N E T C H A N G E IN B K G . S Y S T E M L l A B MONETARY AUTHORITIES U.S. GOVT. CASH ♦ DEPOSITS FOREIGN OEPOSITS CURRENCY 11 12 13 14 15 16 17 18 19 12.995 2.231 165 10.599 16.352 706 1 .618 14.028 10.757 3.892 155 6.710 -2*785 16.396 -7.889 ' 5 0 ;8 ' 1 . 2 4 9 -1.429 . -236 583 ■ 34 -3.057 14.564 -6.494 3.898 343 1.021 2.534 1.441 387 182 872 18.902 1.405 381 17.116 -11.425 515 -763 -11.177 6.720 -956 579 7.09T -4.780 -2.224 378 -2.934 COMMERCIAL BANKING U.S. GO VE RN ME NT DEPOSITS FOREIGN DEPOSITS PRIVATE DOMESTIC 16 17 18 19 SAVINGS ACCOUNTS 25.144 21.<0 7 6 20*760 21.758 32,508 20.620 14.160 10.433 -1 .*5-46 11.882 97 10.114 ?. 61.4’ 7.424 76 10.656 5*377 5.553 -274 11.140 3.315 8.186 -361 :r 5.298 i m o '■ > - 4 3.761 20.076 1 6 *8529.001 223 11.814 4 .?4 9 7,470 95 10.430 5; 25 0 164 2*98# 8*-67« 1 ;tA8 W4ft 585 0 843 14.034 *'.'069 5.039 -74 - ■<* 10.565 4.423 70 -94^ ‘ ‘ -Of -81 TI 1 82.189 8^.738 2 3 4 5 41.3*3 8.685 32.418 260 42.343 760 33.045 -462 6 7 8 9 10 11 ' 2 9 . 8 39 • 3.600 6* v 7.159 ■: *52 547 29.848 3.110^ 77 * 6 . ‘7 7 7 -87 * 2.618 12 13 14 15 16 17 40.826 9.H61 2.897 28.068 ;2 7 . « 5 9 209 7.471 46.395 11.002 10.172 2.681 1 .5 5 3 3.390 858 588 7.463 5.330 32.833 3 2 . 4 r 5 :■■■ 7 . 6 3 5 ;:'“ :5 i J4 0 I '* 418 -172 -71 , •• ■ •' V«J 18 70.4S6 75.825 ■*15.r91 6.728 1.0d.3 5.687 • '' 38' 4.81* 1.100 ' 3T ..-4? 54 677 15.992 E DEPOSITS 19*576 7.720 10.469 *.*544 1 .689 8.728 3.062 114 1 52 ■■■■■’ ■■■'"-■ F2 6 *.47 7 5*4:86 '’■ 7 5 0 ’ ^i.«5d ■ 13 -I ' ’7 0 5 3; 4b 8 -24 ' 24 * -239 442 13.028 ANO 7*782 : 700 -8 1*290 • 18 332 9.V59 510 11-8 290 ' - ‘3 7 616 9 * 1 0 7 • 14.711 10.962 2.339 2.205 3.368 97 * ’ • 902 733 6.169 10.371 7.721 9.9S9 7; 8 3 3 6*151 412 18 -112 :/ * ...^ 10 .1 04 * 2.141 ..... 18.d56 i5;566 7 *609• sort ^ 9 1*436 \4 599 21*908 1.071 1.188 7.402 7.636. -234 10.618 2.324 955 7,339 6. $ 8 7 352 12.522 2.482 ' 1.1*0 8.890 19.497 15.564 22*389 I IT/73 FlGdwPS A^t'fE'MtATf V F ’E S f fMATPS "BASED 0 N ;INCOMPLETE INFORMATION^ 8i3?7 563 8.#0* 1 i'fri 1 1.-207 5.988 sires 203 17.281 U.S. NET GOVERNMENT CHANGE - DEPOSITS TOTAL 10 1 COMMERCIAL BANKING LIABILITY 2 large N E GO TI AB LE CD'S ' 3 O T H E R AT C O M M E R C I A L BA N K S 4 AT F O R E I G N B A N K I N G AGS. 5 A C Q U I R E D ‘B Y S ^ HOUSEHOLDS 6 CORPORATE BUSINESS : -7 .-U.S. G O V E R N M E N T 8 ‘S T A T E ♦ L O C A L G O V E R N M E N T S 9 MUTUAL SAVINGS BANKS 10 FOREIGN 11 A T S A V I N G S I N ST ITU T IONS b26 -414 MU TU AL S A VI NG S BANKS CREDIT UNIONS 73 ■■ S A V I N G S ♦ L O A N ASSNS. 467 ‘ H E L D BY t H O U S E H O L D S - ^ 1 ,437 CREDIT UNIONS -970 M E M O 1’ T O T A L O F H O U S E H O L D S * 11.661 TFME ♦ SAVINGS ACCOUNTS 12 13 14 15 16 17 18 7 NOVEMBER U.S. dOVT. 15 1973 SECURITIES U.S. GOVT. SECURITIES 15 U.S. UNADJUSTED QUARTERLY GOVERNMENT SECURITIES MARKET (MILLIONS OF DOLLARS) FLOWS QUARTERLY FLOWS UNADJUSTED 1971 I 1 SUMMaRY IV 1 | 1972 1 1 1973 II 19 7 1 1972 1 2 3 4 29.868 26.023 2.425 23.598 23.585 13.919 3.295 10.624 2.153 1.876 676 1 .200 11.638 9.536 612 8.924 14.472 12.311 657 11.654 5.704 3.725 797 2.928 -3.512 -6.012 847 -6.859 6.842 4.596 772 3.824 14.551 11.610 879 10.731 11.544 8.201 891 7.310 -25 -5.941 911 -6.852 7.205 -1.141 441 -1.502 5 6 7 B 3.845 640 -1.091 4.296 9.666 1 .982 1.502 6. 1 8 2 277 88 -124 313 2.102 -5 90 2.017 2.161 369 -163 1.955 1.979 704 -117 1.392 2.500 324 61 2.115 2.246 542 621 1 .083 2.941 412 937 1 .592 3.343 88 571 2.684 5.916 -9? 134 5.874 8.346 392 349 7.605 9 10 11 12 13 14 P9.R68 -4 -1.525 -1.462 -63 8.644 23.585 5 -1.418 -1.330 -88 339 2.153 -4 -681 -43 -638 1.177 11.638 0 -1.028 -1.041 13 2.109 14.472 3 194 139 55 3.159 5.704 1 1 .560 1.573 -13 — 66 -3.512 -1 -427 -390 -37 1.699 6.842 0 -1.821 -1.785 -36 -1.707 14.551 5 -730 -7?8 -2 413 11.544 5 -102 -88 -14 4.068 -25 -7 230 240 -10 1.278 7.205 NET ACQUISITIONS, BY SECTOR 9 U. S. GO V T . ( A GE NC Y SEC.) 468 SPONSORED CREDIT AGENCIES TREASURY MARKETABLE 468 0 FHLB SPECIAL ISSUE 490 FEDERAL RESERVE SYSTEM 15 16 17 26.302 13.948 12.354 8.402 2.250 6.152 6.735 1.634 5.101 8.701 3.800 4.901 4.495 4.366 129 3.015 2.629 386 104 -3.035 3.139 5.329 1 .658 3.671 -46 998 -1.044 7.806 -1.641 9.447 -2.837 -2.806 -31 -1.604 -1.342 -262 18 -3.S49 16.257 -5.074 1.856 6.621 1.194 -4.887 5.041 14.909 -233 1.311 7.834 TOTAL 19 20 21 22 -12.958 2.425 -10.923 -4.460 4.078 3.295 -205 988 -3.219 676 -3.696 -199 734 612 284 -162 -889 657 -1.755 209 -369 797 107 -1.273 -2.794 847 -4.540 899 1 .862 772 123 967 5.379 879 4.105 395 2.770 891 268 1.611 2.225 911 -954 2.268 8.849 441 3.529 4.879 PRIVATE DOMESTIC NONFINAN. S A V I N G S B O N D S (HH) TREAS. EXCL. SVGS, BONDS AGENCY ISSUES 23 24 25 26 -12.746 2.425 -11.709 -3.462 4.358 3.295 1.538 -475 -3.793 676 -4.285 -184 2.799 612 1.927 ?60 -3.065 657 -4.010 288 741 797 1 .429 -1.485 -1.083 847 -2.590 660 2.270 772 1.069 429 2.430 879 1.630 -79 3.238 891 582 1 .765 1.488 911 -66? 1.239 9.019 441 5.076 3.502 27 28 29 2.016 1.9«1 55 -2.386 -3.126 740 1.209 1 .193 16 -1.137 -1.036 -101 2.815 2.640 175 -1.878 -2.033 155 -1.924 -2.091 167 -323 -437 114 1.739 1.435 304 -608 -973 365 92 1 5 81 340 -1.539 -2.000 461 30 31 32 -2.248 -1 . 1 9 5 -1.053 2. 1 0 6 1.383 723 -635 -604 -31 -928 -607 -321 -639 -385 -254 768 711 57 213 1 41 72 -85 -509 424 1.210 1.040 170 140 659 -519 -184 -87"* 689 1.369 453 916 33 34 35 " 6.944 3.115 3.829 6.463 2.400 4.063 -1.122 -1.522 400 -93 -1.445 1.352 7.713 6.213 1.500 -1.447 -2.266 819 -1.492 -2.370 878 1.314 1 .081 233 8.088 5.955 2.133 -5.807 -5.936 129 -1.050 -3.404 2.345 -225 -3.071 2.846 COMMERCIAL BANKING TREASURY ISSUES AGENCY ISSUES 33 34 35 36 37 38 2.465 -1.447 3.912 5.716 1.757 3.959 -733 -994 261 1.215 364 851 -203 -145 -58 3.010 802 2.208 -601 -1.054 453 1,865 734 1.131 1.442 1.275 167 2.804 1.326 1 .478 145 -1.055 1.200 -790 -1.176 386 PRIVATE NONBANK FINANCE TREASURY ISSUES AGENCY i s s u e s 36 37 3B 39 40 41 5.205 1.354 3.851 4.280 926 3.354 768 401 367 484 222 262 -199 -300 101 2.701 745 1.956 173 -176 349 922 -107 1 .029 484 464 20 2.718 1.750 968 -290 -650 360 -1.692 -1.610 -82 SAVINGS ♦ LOAN ASSNS. TREASURY ISSUES AGENCY ISSUES 39 40 41 42 43 44 358 -5 363 30 1 -132 433 205 51 154 183 -105 288 -87 -19 -68 115 -24 139 97 -49 146 32 -14 46 57 -45 102 84 -93 177 -15 -166 151 -175 -5 -170 MUTUAL SAVINGS BANKS TREASURY ISSUES AGENCY ISSUES 42 43 44 45 46 47 801 331 470 628 380 248 322 15? 170 19 -53 72 224 108 116 375 241 134 80 44 36 85 47 38 88 48 40 95 53 42 98 54 44 104 58 46 CREDIT UNIONS T REASURY ISSUES AGENCY ISSUES 45 46 47 48 49 50 -155 -233 78 -236 -253 17 -150 -137 -13 43 -21 64 87 63 24 120 53 67 -193 -159 -34 34 34 0 -197 -181 -16 64 18 46 -4 -138 134 20 -23 43 LIFE INSURANCE TREASURY ISSUES AGENCY ISSUES 48 49 50 51 52 53 -296 26 -322 958 868 90 -423 -235 -188 40 42 -2 97 84 13 337 343 -6 -168 -125 -43 205 95 11 0 584 555 29 308 45 263 -119 -141 2? 81 81 0 PRIVATE PENSION FUNDS TREASURY ISSUES AGENCY ISSUES 51 52 53 54 55 56 -1.162 -815 -347 -189 -92 -97 -584 -416 -168 301 92 209 -335 -101 -234 -104 -25 -79 -57 -142 85 -90 4 -94 62 71 -9 79 75 4 419 -100 519 325 -200 525 S. FUNDS 54 55 56 57 58 59 -396 -215 -181 -368 -282 -86 -169 -1 0 8 -61 -82 -40 -42 -7 3 -10 -131 -128 -3 -255 -169 -86 -127 -129 2 145 144 1 -189 -167 -22 -90 -60 -30 50 26 24 OTHER INSURANCE COMPANIES TREASURY ISSUES AGENCY ISSUES 57 58 59 I N V E S T M E N T COS. (TREAS.) SECURITY BROKERS ♦ D E A L E R S (TREAS.) 61 II III I II IV III I III 60 -291 130 -255 -180 102 -1 12 142 -23 292 81 38 61 -1.599 212 -447 407 -85 -402 -290 662 242 -647 65 459 LOAN 1 2 3 4 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 . A G E N C Y I S S U E S (2) 5 6 7 8 FOREIGN SHORT-TERM OTHER PRIVATE 9 10 11 12 13 14 MARKETABLE 15 16 17 DOMESTIC 18 HOUSEHOLDS SAVINGS BONDS TRFAS, EXCL, SVGS, AGENCY ISSUES BONOS 19 20 21 22 23 24 25 26 CORPORATE BUSINESS TR EASURY ISSUES AGENCY ISSUES 27 28 29 STATE ♦ LOCAL g o v e r n m e n t s TREASURY ISSUES AGENCY ISSUES 30 31 32 PARTICIPATIONS ♦ L. G O V T . . R T R . TREASURY ISSUES AGENCY ISSUES (1) WH ER E NOT SH OW N AGENCY ISSUES. (2) TH E S E IS SU FS ARF O U T S I D E THE B U D G E T AND O U T S I D E THE U.S. G O V E R N M E N T S E C T O R IN F L O W O F F U N D S A C C O U N T S . T H E Y A R E I N C L U D E D IN C R E D I T M A R K E T D E B T OF F I N A N C I A L I N S T I T U T I O N S . SPONSORED AGENCY ISSUES INCLUDE G N MA -G UA RA NT EE D SE CU RI TI ES BA CK ED BY MO R T G A G E POOLS. 111/73 FIGURES ARE TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION. SEPARATELY, TOTAL NET ISSUES TREASURY ISSUES HOUSEHOLD SAVINGS BONDS TREAS. EXCL. SAVINGS BONDS ARE INCLUDED WITH 60 T MnvFMRPR 1973 PRIVATE SECURITIES AND MORTGAGES PRIVATE SECURITIES AND MORTGAGES 16 PRIVATE SECURITIES AND MORTGAGES (MILLIONS OF DOLLARS) UNADJUSTED QUARTERLY UNADJUSTED FLOWS I I II 1972 1971 III II STATE AND LOCAL III GOVERNMENT 16.626 2.434 14.192 11.930 -996 12.926 4.447 824 3.623 3.909 589 3.320 3.204 -113 3.317 3.615 432 3.183 2,975 -539 3.514 3.053 -154 3.207 2.287 -735 3.022 1.529 -733 2.262 2.837 -535 3.372 978 -1.156 2. 1 3 4 4 5 6 7 16.626 -874 1.000 -206 11.930 1.296 1.000 -155 4.447 -847 250 -108 3.909 1.272 250 49 3.204 -1.072 250 -45 3.615 578 250 -30 2.975 133 250 -119 3.053 23 250 79 2.287 562 250 -85 1.529 496 250 -176 2.837 550 250 -37 978 649 -250 -14 4.409 73 25 2 1.044 - 4 01 871 20 27 -139 1.102 457 3.017 51 -3 -45 969 82 2.205 12 5 -12 -60 873 -314 1.689 112 4 36 817 53 1.998 195 -5 -162 798 -123 426 51 -9 8 816 268 605 155 -41 -273 830 -317 l.ioo -3 73 -3? 835 92 -287 -25 77 -55 852 31 FOREIGN BONDS 12.607 193 57 -174 3.910 113 6.318 483 -22 -178 3.304 -116 CORPORATE AND NET c h a n g e i n L I A B I L I T I E S OF STATE ♦ LOCAL GOVERNMENTS SHORT-TERM OTHER 1 2 3 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 . FUNDS 4 5 6 7 COMMERCIAL BANKING MUTUAL SAVINGS RANKS LIFE INSURANCE COMPANIES S. ♦ L . G O V T . * R T R . F U N D S OTHER IN SU RA NC E COMPANIES FINANCE N.E.C. 8 9 10 11 12 13 1 2 3 4 5 6 24.668 18.807 717 3.788 416 940 20.079 12.187 1.051 5.441 374 1.026 6.56? 5.399 88 543 264 268 4 ,. 8 2 2 3,. 5 8 3 68 943 -84 312 6.013 4.359 146 1.309 121 78 5.181 2.775 453 1.334 136 483 5.472 3.812 94 1.004 140 422 4.387 3.037 137 1.303 38 -128 5.039 2.563 367 1.800 60 249 2.532 1.6?2 -68 713 150 115 4.283 3.406 -100 632 178 167 2.890 1.888 -19 702 169 150 NET ISSUES CORPORATE BUSINESS COMMERCIAL BANKS FINANCE COMPANIES REITS REST OF THE WORLD 7 8 9 10 24.668 8.172 1 .275 4.316 20.079 4.851 1.711 2.826 6.562 2.913 369 1.505 4 .822 2 .889 268 ?41 6.013 -20 269 649 5.181 2.280 464 1.308 5.472 1.037 472 865 4.387 1.198 250 517 5.039 336 525 13 6 2.532 6?4 -73 240 4.283 1.288 -105 -200 2.890 462 306 -187 NET P U R C H A S E S HOUSEHOLDS COMMERCIAL BANKING MUTUAL SAVINGS BANKS 11 12 13 14 15 9.8«8 5.466 -653 4.790 285 10.347 7. 19 4 -1.588 4.804 -63 2.?37 991 -273 1 .463 56 1 .609 1 .224 -394 796 -17 3.632 2.094 629 898 11 1 .806 1 .705 -788 882 7 3.236 1.800 -312 1 . 7 81 -33 2.968 1.389 279 1.335 -35 2.337 2.300 -767 806 -2 3.146 1 •4 ? 1 5?4 1.168 33 3.376 1 .482 225 1.241 428 2.415 843 574 609 389 16 17 745 272 300 44 -398 -64 -336 151 1.462 21 -746 69 -163 25 -404 -142 1.613 92 -1.465 60 -154 87 -839 133 1.063 -237 1.300 774 -90 150 516 -50 CORPORATE 1 2 3 4 5 6 7 8 9 10 INSURANCE LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS S. ♦ L . G O V T . * R T R . F U N D S OTHER INSURANCE COMPANIES 11 12 13 14 15 FINANCE RE S T OF 16 17 N.E.C. THE WORLD EQUITIES NET ISSUES O P E N - E N D IN V E S T M E N T COS. OTHER SECTORS CORPORATE BUSINESS C O MMERCIAL BANKS OTHER INSURANCE COMPANIES REITS REST OF THE WORLD 1 2 3 4 5 6 7 8 1.063 NET PU R C H A S E S HOUSEHOLDS -2.421 COMMERCIAL BANKING 0 MUTUAL SAVINGS BANKS 95 INSURANCE 3.357 LIFE INSURANCE COMPANIES 894 PRIVATE PENSION FUNDS 1.138 S. ♦ L. G O V T . * R T R. F U N D S 875 OTHER INSURANCE COMPANIES 450 9 10 11 12 13 14 15 16 17 1 2 3 4 5 6 7 8 14.660 1.181 13.479 11.701 214 599 938 27 11.973 -633 12.606 10.396 524 600 1 .498 -412 3.700 -348 4.048 3.480 14 153 29? 109 4.453 216 4..337 3.810 -7 159 282 -7 3.715 832 2.883 2.632 13 153 234 -1*9 2.910 273 2.637 2.135 50 150 348 -46 3.311 -679 3.990 3.205 209 15 0 502 -76 2.739 -229 2.068 2.557 4 15 0 338 -81 3.013 2 3.011 2.499 261 150 310 -209 2.401 -338 2.829 2.402 3 150 440 -166 2.325 -478 2.803 2.211 7 150 474 -39 9 10 11 12 13 14 15 16 17 14.660 -5.411 -17 475 18.211 3.640 8.915 3.185 2.471 11.973 -5.857 12 9 617 16.495 3.500 7.065 2.973 2.957 3.700 -1.671 17 108 5.268 848 2.908 763 749 4.453 468 -27 104 4.232 797 1.737 96 1 737 3.715 .1.727 -22 167 4.234 872 1 .879 769 714 2.O10 -706 87 18 2 4.085 1.057 1 .927 =>13 588 3.311 -1.522 42 202 4.823 1.048 2.149 041 685 2.739 297 0 134 3.227 522 1 .044 773 888 3.013 •3.926 0 99 4.360 873 1.945 746 796 2.491 -337 0 186 3.909 870 1.259 953 8?7 2.325 -1.237 0 111 3.485 1.138 1.103 900 344 18 19 20 21 566 445 121 836 -1.679 -1.821 142 2.268 -19 268 -287 -3 -554 134 -688 230 532 -550 1.082 531 -1.431 -473 -958 693 -399 -346 -5 1 165 -1 . 2 4 2 -745 -497 323 1.303 -255 1.646 1 .087 -2.568 -1.297 -1.271 1.301 -185 -564 370 151 -968 -470 -498 1.000 TOTAL FLOWS SECURITIES 1 2 3 8 9 10 11 12 13 q uarterly 1973 II FINANCE N.E.C. OP EN-END INVESTMENT BROKERS AND DEALERS R E S T OF THE WO R L D COS. 18 19 20 21 MORTGAGES 1 48.867 68.833 12.874 14.449 14.299 12.444 17.796 19.126 19.467 15.357 21.530 20.277 2 3 4 5 6 7 8 9 10 11 1 .094. -72 134 46.811 24.138 1.217 21.456 2.011 8.002 11.443 1.153 -86 480 67.286 38.423 1.421 27.442 2.580 9.236 15.626 1.234 -20 34 11.*26 5.339 323 5.964 463 2.460 3.032 271 -18 17 14.179 6.924 330 6.925 551 2.582 3.792 76 -14 47 14.190 8.440 343 5.407 443 1.871 3.093 5 -19 51 12.407 7.914 343 4.150 634 1.126 2.390 810 -24 204 16.806 9.037 357 7.412 867 2.532 4.013 232 -2 1 115 18.800 10.182 363 8.255 635 2.952 4.668 106 -22 110 19.273 11.200 358 7.625 444 2.626 4.555 10 1 -21 128 15.149 9.276 355 5.518 998 1.654 2.866 444 -23 14? 20.976 10.62? 354 10.000 1.270 3.563 5.158 -687 -21 158 20.827 9.930 350 10.547 976 3.658 5.913 12 13 14 15 16 48.867 58 16 37 6.328 68.833 -2.029 10 -243 6.676 12.«74 -565 5 43 1.577 14.449 180 6 51 2.178 14.299 432 4 -33 1.942 12.444 -844 3 77 1.759 17.796 -248 3 -198 1.687 19.126 -71 2 69 1.530 19.467 -866 2 -191 1.700 15.357 -5?2 0 -4\1 1.873 21.530 40 0 -72? 2.516 2 0 . 2 7 7 F U N D S A D V A N C E D BY: 12 407 HOUSEHOLDS 13 -1 S. ♦ L. G O V T . * G E N . F U N D S 14 754 U.S. G O VE RN ME NT 15 3.177 S P O N S O R E D C R E D I T A G . (1) (2) 16 17 18 19 20 21 22 42.428 9.940 28.131 24.054 4.030 47 64.419 16.799 37.633 32.002 5.578 53 11.814 2.915 7.984 7.010 963 11 12.034 3.297 8.017 7.024 982 11 11.954 2.579 7.517 6.152 1.353 12 11.449 3.099 6.773 5.760 1.000 13 16.552 4.500 10.178 8.739 1.426 13 17.596 4.934 10.508 8.997 1.497 14 1 8 . 8?2 4.266 10.174 8.506 1.655 13 14.417 4.101 8.849 7.472 1.364 13 19.705 5.690 11.260 9.54? 1.714 13 15.940 5.300 7.732 6.598 1.121 13 23 24 25 26 27 28 29 760 1.121 -615 276 -22 1.053 2.544 1.011 1.823 -683 -131 2 4.132 4.844 -164 -24 -201 68 -7 497 58? 142 242 -170 78 -8 -38 616 747 745 -101 110 -7 361 750 -4?? -72 -312 -38 0 709 1.290 -28 123 -109 -43 1 706 1.196 87 266 -142 -39 2 1.265 802 1.374 1.506 -120 -11 -1 1.452 1.556 213 268 -124 68 1 103 1.151 493 327 -94 260 n 969 1.275 30 -2.679 43 -2.449 396 299 -1.944 83 661 1.243 111/73 FIGURES ARE (2) INCLUDES MORTGAGE TENTATIVE ESTIMATFS BASED ON INCOMPLETE INFORMATION. POOLS 441 2.725 ASSOCIATIONS BACKING TOTAL M O RT GA GE CREDIT BORROWED b y : SAVINGS ♦ LOAN ASSOCIATIONS U.S. G O V E R N M E N T REITS PRIVATE NONFINANCIAL SECTORS HOUSEHOLDS NONPROFIT INSTITUTIONS BUSINESS FARMS NONFARM NONCORPORATE CORPORATE 1.094 1.093 -100 100 1 400 1.414 PRIVATE FINAN. INSTITUTIONS CO MM ER CI AL BANKS SAVINGS INSTITUTIONS S * L A S S O C I A T I O N S (1) MUTUAL SAVINGS BANKS CREDIT UNIONS 2 3 4 5 6 7 8 9 10 11 17 18 19 20 21 22 INSURANCE 23 LIFE COMPANIES 24 PRIVATE PENSION FUNDS 25 S. ♦ L. G O V T . . R E T . F U N D 26 O T H E R I N S U R A N C E COS. 27 FINANCE COMPANIES 26 REITS 29 3 . 1 5 3 (1) M E M O ! F H L B L O A N S T O S * L ( I N C L U D E O IN " O T H E R L O A N S " C A T E G O R Y ) . GNMA-GUARANTEED 1 PASS-THROUGH SECURITIES. 30 7 NOVEMBER MORTGAGES. 1973 BY TYPE mortgages• 17 UNADJUSTED 1971 QUARTERLY 1972 II 27.970 24.138 955 955 -72 1.994 40.724 38.423 617 617 7.671 5.339 559 559 -8 6 -20 1.153 1.234 40.724 -2.214 10 11 12 27.970 -596 16 -318 4.778 5.691 13 14 15 16 19.285 17.939 1 .299 47 17 18 19 -2.687 -2.072 -615 1.053 748 3 4 5 6 7 8 9 20 21 unadjusted 1971 II I IV I I 1972 I 232 106 -21 101 7.671 -318 5 -39 1.195 1.591 8.755 -237 6.928 -413 3 -97 1.247 1.551 10.799 -455 3 -184 1.155 2.218 11.8 6 1 11.136 8.288 -478 2 -868 2 -15 1.767 1.954 8.132 64 4 -103 1.459 1.612 -59 871 2.864 -266 1.030 2.351 27.760 24.698 3.009 53 5.311 5.046 254 5.919 5.598 310 5.120 4.588 520 11 11 12 4.673 4.197 463 13 7.549 6.778 758 13 8.194 7.310 870 14 7.344 6.413 918 13 -2.821 -2.138 -683 4.132 1.176 -743 -542 -791 -621 -170 -38 190 -613 -512 ■1.085 -773 -312 709 340 -672 -563 -109 706 479 -812 -670 -142 1.265 14 -252 -132 10 -606 4.303 8.984 -20 1 497 172 6 2.189 1.532 651 11 6 9 8.817 428 376 H 20 673 10.426 -52 348 1.183 1 .794 2.451 -135 89 150 229 10 11 12 4.790 2.998 1.792 4.915 3.811 1.104 1 .776 1.2 2 1 13 14 15 712 276 742 469 -131 1.900 7 8 -10 1 361 228 555 114 68 160 RESIDENTIAL 2.10 1 -751 1.383 3.076 6.300 5.413 874 13 8.006 7.514 479 13 -120 -400 -276 -124 103 280 1.452 343 12 13 14 15 16 -468 -374 -94 969 311 -110 -10 -100 400 344 INSURANCE LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS FINANCE COMPANIES REITS 17 18 19 20 4.107 2.702 1.35* 47 3 .498 2 .387 1 .059 NET BORROWING NONFARM NONCORP. BUSINESS CORPORATE BUSINESS REITS 1 2 3 .498 373 443 572 281 N E T 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 SPONS. CREDIT AGENCIES c ommercial BANKS 5 2.8 66 1 1?2 295 363 4.107 427 9 606 328 881 564 317 1.12 8 1 .069 82 6 1.312 1.045 267 1.093 832 261 1.441 1.108 333 1.328 1.173 155 1.8 86 1 .072 243 1.137 749 908 164 -87 -38 443 39 -43 271 154 -39 533 363 203 -11 68 653 396 151 260 440 487 4.935 350 448 4.031 106 4.935 -95 279 110 208 5.445 10 11 12 4.125 3.117 1.008 4.946 3.493 1.453 13 14 15 2.529 3.414 -11 1.912 912 42 52 170 10 0 3.205 355 276 2.488 11 86 4.1?? 354 367 3.306 95 2.954 -183 3.189 -189 2.940 -507 3.628 -154 4.078 240 4.457 -40 3.205 -216 4.12? -284 0 2 .0 10 N E T C H A N G E IN A S S E T S HOUSEHOLDS 0 U.S. GO VE RN ME NT 1.846 COMMERCIAL BANKING 3?9 1.386 891 495 1.787 1.302 485 267 486 -2 0 0 0 -11 0 0 806 1.047 1.432 1.630 1.336 1.463 903 743 160 1 .249 862 387 1.294 954 340 1.031 737 294 1,307 916 391 1.220 1.388 985 403 1.215 855 365 385 -7 250 615 971 -7 314 862 742 1.214 596 8 86 1 2 -1 1 0 446 1 255 560 475 524 583 9 1 2 3 4 5 6 7 8 9 SAVINGS INSTITUTIONS SAVINGS ♦ LOAN ASSNS. MUTUAL SAVINGS BANKS 12 10 11 LIFE INSURANCE COMPANIES OTHER INSURANCE COMPANIES REITS 13 14 15 m ortgages 2.0 11 2.580 463 551 443 634 867 635 444 998 1.279 976 860 -16 730 554 -69 -48 698 26 1.190 576 10 210 -2 290 77 -6 -97 .3 358 124 347 3 484 174 39? 12 372 -83 294 223 133 35 316 213 78 19 265 -3 150 49 -25 7 1 61 309 50 482 252 •237 -16 222 0 10 110 1 -74 51 40 119 (l) INCLUDES Iir/73 FIGURES ARE T E NT a TIVF ESTIMATES BASED ON INCOMPLETE INFORMATION. NET B O RR OW IN G HOUSEHOLDS NONFARM NONCORP. BUSINESS CORPORATE BUSINESS REITS 813 0 507 1 7 7 8 13 14 15 4.457 358 403 3.622 74 188 157 -32 30 6 (1 ) COMPANIES PENS. FUNDS 4.078 363 364 3.274 77 2 6 3 4 MORTGAGES 1.023 -5 23? 21 LIFE INSURANCE S. ♦ L . G O V T . . REITS 3.628 357 313 2.821 137 -8 9 10 11 10 11 12 2.940 343 256 2.307 34 260 7 8 SAVINGS INSTITUTIONS SAVINGS ♦ LO AN ASSNS. MUTUAL SAVINGS BANKS 3.189 343 282 2.533 31 farm 3 4 5 CHANGE MORTGAGE*? 3.430 139 78 312 455 218 78 166 6 SAVINGS INSTITUTIONS SAVINGS ♦ LOAN ASSNS. MUTUAL SAVINGS BANKS CREDIT UNIONS 2.552 34 104 343 330 610 518 3 4 5 5.110 4.388 709 13 69 238 627 9 2 -536 1.094 2.502 -122 -2 882 1.768 0 NET 1 2 IN A S S E T S HOUSEHOLDS STATE ♦ LOCAL GO VERNMENTS U.S. GO VE RN ME NT S P O N S . C R E D I T A G E N C I E S (1) COMMERCIAL BANKING 1.942 -214 97 290 382 2.289 -22 0 10.868 -180 -1 261 2.123 2.921 2.535 292 73 333 15.103 -461 1.054 -654 12.031 -495 2.189 390 70 223 163 10.069 -634 -5 3.022 -11 10.868 NET PORROWING 9.930 HOUSEHOLDS 823 NONFARM NONCORP. BUSINESS 823 CORPORATE BUSINESS -21 U.S. GO VE RN ME NT -687 SAVINGS ♦ LOAN ASSOCIATIONS 2 .8 66 2.954 330 ?61 2.352 8 -22 12.031 10.62? 494 494 -23 444 3.430 2.342 1.052 36 2.289 323 194 1 .749 23 7 -21 8.288 9.276 -534 -534 2.552 1.854 660 38 15.103 1.421 1.336 12.024 322 6 11.136 11.290 -119 -119 2.502 1.731 704 67 10.069 1.217 876 7.887 89 3 4 5 11.8 61 10.182 734 734 1 .942 1.356 569 17 112 flows II I 2.535 1.774 745 16 COMMERCIAL 1 2 I 10.799 9.037 488 488 -24 810 2.451 1.716 724 6 IV ouarterly mortgages 6.928 7.914 -486 -486 -19 5 10.426 7.283 2.985 15 8 5 II I 1q 73 II 8.132 8.440 -185 -185 -14 76 8.817 6.171 2.601 45 3 4 II | I 8.755 6.924 789 789 -18 271 MULTI-FAMILY 1 2 17 FLOWS I I home 1 2 BY t y p e MORTGAGE MARKETS BY TYPE OF MORTGAGE (MILLIONS OF DOLLARS) 6 MORTGAGE 20 527 285 -9 64 POOLS 120 NET BO RR OW IN G BY FARMS N E T 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 FEDERAL LAND BANKS COMMERCIAL BANKS MUTUAL SAVINGS BANKS LIFE INSURANCE COMPANIES BACKING GNMA-GUARANTEED SECURITIES. 1 2 3 4 5 6 7 7 'NOVEMBER 1973 CONSUMER CREDIT AND BANK LOANS CONSUMER N.E.C 18 CREDIT AND BANK LOANS N.E.C. 18 rONSUMER CREDIT AND BANK LOANS NOT ELSEWHERE CLASSIFIED (MILLIONS OF DOLLARS) UNADJUSTED QUARTERLY 1972 u na dj u st ed FLOWS I | 1*72 1971 II I II IV | I II CONSUME quarterly flows 1971 II III CREDIT 1 2 3 11.231 9.231 2.000 19.170 16.037 3.133 3.693 3.092 601 3.632 3.379 253 5.426 4.22? 1.204 -515 -38 -477 5,,9 33 5,,108 825 5.164 4.828 336 8.588 6.139 2.449 1.756 2.043 -287 7.763 6.641 1.120 5.952 6.075 -123 IET C H A N G E I N L I A B I L I T I E S INSTALMENT CREDIT NONINSTALMENT CREDIT 4 5 6 7 8 9 10 11.231 9.231 25 140 5.84? 1 .933 1.291 19.170 16.037 183 1 .002 8.543 2.490 3.819 3.693 3.092 -9 -4? 2.221 750 17? 3.632 3.379 16 85 1.804 693 781 5.426 4.222 138 753 1.586 469 1.276 -515 -38 -84 -461 542 415 -450 5,.9 3 3 5,.1 0 8 14 74 3,.101 868 1,.0 51 5.164 4.828 46 256 2.683 758 1.085 8.588 6.139 207 1.133 2.217 449 2.133 1.756 2.043 -78 -426 1.605 541 401 7.763 6.643 39 214 3.611 1.032 1 .747 5.952 6.075 50 270 2.919 1 .045 1.791 IET C H A N G E I N A S S E T S INSTALMENT CREDIT NONFARM NONCORP. BUSINESS CORPORATE BUSINESS COMMERCIAL BANKING SAVINGS INSTITUTIONS FINANCE COMPANIES 4 5 6 7 8 9 10 11 12 13 14 15 2.000 662 432 847 59 3.133 891 570 1 .541 131 601 54 201 327 19 253 -62 106 192 17 1.204 450 506 234 14 -477 54 -790 175 84 825 112 375 340 -2 336 -123 99 334 26 2.449 848 886 692 23 -287 155 -726 217 67 1.120 142 528 446 4 -123 -149 -72 88 10 NONINSTALMENT CREDIT NONFARM NONCORP. BUSINESS CORPORATE BUSINESS COMMERCIAL BANKING SAVINGS INSTITUTIONS 11 12 13 14 15 17.978 27.166 13.771 - LOANS ELSEWHERE CLASSIFIED MORTGAGES 5.300 CONSUMER CREDIT 3.007 SECURITY CREDIT -1.361 COMMERCIAL PAPER 31 HYPOTHECATED DEPOSITS 0 6.794 = BANK LOANS N.E.C. 0 ♦ LO AN S BY F.R. BANKS 6.794 s TOTAL BANK LOANS N.E.C. BANK 1 30.541 59.976 13.317 - 6.621 LOANS 15.260 NOT 2.864 ELSEWHERE 17.848 11.960 27.304 9.940 6 .689 775 786 0 12.351 0 12.351 16.799 10.084 4.757 -204 0 28.540 0 28.540 2.915 2.54A -304 -41 0 8.199 0 8.1 9Q 3 .?97 1 .996 104 -365 0 1.389 0 1 .389 2.579 1 .820 2.911 1 .447 0 6.503 0 b.503 3.099 717 -911 -520 0 479 0 479 4.500 3.441 1.598 -266 0 8.575 0 8.575 4.934 3.017 302 -448 0 4.155 0 4.155 4.266 2.909 3.768 1 .030 0 15.331 0 15.331 4.101 1.8?2 -4.316 -930 0 17.301 0 17.301 5.690 4.057 -341 -67 0 17.818 0 17.818 10 11 12 13 14 15 16 12•351 9.313 361 1 .345 204 4.768 2.635 28.540 21.777 2.972 1.814 721 13.857 2.413 8.199 6.430 1 .867 726 137 3.037 663 1 .389 2.033 -1.073 ?74 -?93 1.827 1.298 6.503 4.732 1 .45 4 0 291 2.064 923 479 -1.068 -805 300 14 0 -697 -6 8.575 8.240 2.074 810 477 4. 19 9 680 4.155 1.356 -535 90 -?23 1 .372 652 15.331 13.249 2.238 614 3?7 8.983 1 .087 17.301 13.879 -641 686 372 10.9?0 2.542 17.818 13.079 2.12? 985 9? 9.149 731 6.794 5.703 1.163 415 -399 5.522 -918 17 18 19 20 21 3.038 688 48 661 1.641 6.763 776 3.631 1.512 844 1 .769 420 1.191 112 46 -644 110 -1.324 182 388 1.771 329 217 0 1.225 1.547 -328 -29 512 1.392 335 426 600 110 -801 2.799 141 934 14 1.710 2.082 537 2.126 876 -1.4*7 3 .4? 2 -341 780 998 1.985 4.730 148 2.231 937 1.423 1.011 518 129 536 -172 FIGURES ARE TENT4TIVF ESTIMATFS BASED ON INCOMPLETE 1 2 3 CLASSIFIED 2 3 4 5 6 7 0 9 I I 1/73 (HH) INFORMATION. T O T A L B A N K L O A N S AT COMMERCIAL BANKS* F/F BASIS N E T C H A N G E IN L I A B I L I T I E S NONFINANCIAL SECTORS HOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUSINESS CORPORATE BUSINESS REST OF THE WORLD FINANCIAL SAVINGS FINANCE REITS FOREIGN SECTORS ♦ LO AN ASSNS. COMPANIES BANKING AGENCIES 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 IB 19 20 21 7 NOVEMBER 1973 OTHER LOANS OTHER LOANS 19 19 O P EN -M AR KE T PAPER ANp OT HE R LOANS (MILLIONS OF DOLLARS) UNADJUSTED QUARTERLY 1971 1972 UNADJUSTED q u a r t e r l y FLOWS __________________________________________________________________________ . . . . . . . . ----. . . . . . . . FLOWS ........- - ---I II , II I 1972 I« I OTHER ~ ,»Q i ttS ‘S:S 1:? ‘T * 2 '’111 557 -92 5 6 48 6 5 18 2 . 44 71 6 9 2 64 27 -5 ~ -5 16 1 I 2,123 2 S « ? 9 -838 10 U 12 n 685 -2.679 T76 -200 **2 2.117 516 It -104 299 1.454 *68 2.259 -1.944 -341 5*2 15 *.90* 10.383 -2.862 2.*19 1.791 3.412 16 -3.880 *32 -1.229 -382 -98* * ‘!*7 0 .2.001 755 -2.032 ,66 20 21 20 4 ?K6 ~ lbb -20* "- 47 16 li -365 11 l.Sl U37? 896 680 ’-III til 'ulll .!:»£ It 3.337 -2.699 5.451 6.265 8*380 NET - 1 M 214 -389 389 261 .,.*66 ??? 1.447 "iin -520 282 2.6*5 1U -266 M J 707 |JJ IN L I A B I L I T I E S C O R P O R A+T E *.051 3.590 6.8T1 P4 3 413 3.413 441 108 2.704 24 1.243 956 6*0 *2 -1*0 *.28* 608 *tUIs? 5,1 5.*51 6.|6« 6.380 "l',50 1.237 2.32* l.Ul *» -930 930 -,.3622.176 3.113 -67 337 2.945 129 2 3 4 5 308 470 300 -462 1 .841 412 1 .200 229 41 93 0 -52 ? 12 -108 10 0 220 1.330 1.157 -27 149 6 7 8 9 10 -1.253 -1 . 7 2 5 -94 480 «6 754 -574 -367 1.260 4 35 -1.834 -1.653 -274 0 93 568 417 -8 212 -53 -886 1.360 1.089 200 -1.551 297 268 100 -220 200 -121 342 50 76 REST OF THE " E T ^ W . S E CORPORATE IN ASSETS BUSINESS 31 1.832 >• ,, COMMERCIAL BANKING SAVINGS 0ANkS 21 2g L l J E W S U R . N a 23 C O M P A N Y RE5T 0F ™ E'“0RLD25 p Ap E R 1.074 1.886 -1.442 1.393 4.544 662 558 302 -198 -575 -1.037 298 164 1 .625 1.111 400 114 2.144 1.477 -89 756 1.604 896 61 647 1.146 300 78 768 89 89 -310 313 -3 221 -596 219 365 233 -916 -1.156 -155 240 155 -2.813 -1.685 -1.140 -51 63 130 141 -151 -40 180 709 -107 148 488 180 OPEN-MARKET PAPER— NET BY ISSUES. TYPE TOTAL DIRECTLY-PLACED PAPER FINANCE COMPANIES REITS BANK AFFILIATES 2 3 4 5 OEALER-PLACED PAPER CORPORATE BUSINESS FINANCE COMPANIES REITS BANK AF FI LI AT ES 6 47? 53? ?66 ?66 -60 503 444 22 2 222 59 -259 -477 -238 -239 218 -604 -744 -372 -372 14 0 -216 711 355 356 -927 -467 49 24 25 -516 296 59 ?? 30 237 -39 -298 -149 -149 259 378 - 12? -6 1 -61 500 933 1.196 598 598 -263 1 .061 1 .733 -1.378 1.280 -177 2.060 539 -621 -245 2.594 -719 1.756 NONB AN K CR ED IT TO BANKS IN S E C U R I T Y R P ' S 16 17 18 19 20 21 947 -3.880 3.247 2.404 843 3.337 432 3.306 1.695 1.611 -2.699 -1.229 -2.506 -1.194 -1.312 2.563 -382 2.489 l.?47 1.242 8 -984 1.274 1.445 -171 2.945 -947 2.811 1.507 1.304 1.074 596 1.457 727 730 -1.442 -893 -1.570 -825 -745 760 1.676 608 286 3?2 1.8R6 -1.520 1.150 -176 1 ,3 ? 6 1.393 -510 1.237 1.906 -669 4.544 -469 2.324 668 1,656 22 23 24 25 26 204 786 455 237 21» -155 -204 -112 -234 122 -76 -41 40 106 -66 -1 -365 50 12 38 200 1.447 17 23 -6 -118 -520 486 -270 756 -70 -266 -120 71 -191 -11 -448 105 -19 124 44 1.030 -583 -16 -567 59 -930 857 -411 1.268 -99 -67 -70 -20 -50 27 28 29 628 -334 -159 437 -305 -62 661 -24? 694 399 -135 508 -1.308 498 -1.136 1.182 140 -89 -329 -314 120 1.171 246 -42 1.886 45 339 -48 389 561 1 .056 92 964 88? 26* 617 1 I l I 1 \ l . . . . . . . . -------- ------- 750 -64 814 -344 -650 306 I.768 -117 1.885 2.807 31 2.776 717 „ -1.166 -461 -30 -705 747 795 269 526 1.044 -30 1.074 4. 5 6 7 8 9 10 ri 3.177 360 47 358 226 365 0 1.821 2.539 385 36 61 241 345 0 1.471 915 65 28 12* 78 -68 0 689 571 32 -24 SB 10 249 0 ?16 472 66 -28 73 67 91 0 203 742 174 19 -92 3 26T 0 371 L2 -2.461 755 -2.032 166 261 -1.466 364 591 -172 134 299 299 179 -1.94V 412 -131 83 •179 109 661 255 2 253 147 0 147 313 2 311 259 9 250 427 285 43 529 -112 -2.449 16 17 16 1.013 12 1.001 945 12 933 237 2 235 285 4 281 . . . . . . . . . . .. ... .. MONETARY AUTHORITIES COMMERCIAL BANKING MUTUAL SAVINGS BANKS COMMERCIAL PAPER SECURITY RP'S 1.055 LIFE INSURANCE COMPANIES 376 INVESTMENT COMPANIES 1.028 REST OF THE WORLD 144 43 30 81 30 -303T 0 263 978 210 41 119 S3126 0 430 1.357 775 582 - 6 1 8 F I N A N C E CO. L O A N S TO B U S I N E S S -222 LIAB.-NONCORPORATE BUSINESS -396 CORPORATE BUSINESS 3 0 0 U . S . G O V E R N M E N T LOAMS' 10 LXaB,-HOUSEHOLDS -25 FARM BUSINESS -If N O N F A R H W O WC OR P. BUS. .10 CORPORATE B U S r N E S r .50 S ^ ♦ L. GOVERNMENTS 0 SPOMS, CREDIT AGENCIES 376. R E S T OF- T H E W O R L D 875 * 7 625 98 -45 74 0 547 490 22 25 50 10 -5ft 0 433 1 .266 1 . 3 42 - 3*113 3.377 -105 128 1.241 304 597~ 441 558 -170 2.725 211 13 3*15T 2 2(t I 225 292 2 290 3»7 ? 385 675 -42 -54 -47 156 2*5 0407 9 10 11 12 13 14 15 17 18 19 20 21 22 23 24 25 26 27 28 29 111/73 FIGURES ARE TENTATlVF ESTIMATFS BASED ON INCOMPLETE INFORMATION. 1 2 3 4 5 6 7 8 9 10 IV ir SPONSORED CREDIT AGENCY LOA*S LIABILITY OF* F A R * B U S I N E S S CFICft) 13 N O N F A R M N O N C O R P . B U S . <B€) 1 4 S* l A S S O C I A T I O N S (FHLB) 15 7 7 7 P O L I C Y L O A N S (HH L I A B I L I T Y ) 0 ASSET-U.S. GOVERNMENT 77T L I F E INSURANCE COS. 0 BY S E C T O R PURCHASES HOUSEHOLDS CORPORATE BUSINESS COMMERCIAL PAPER SECURITY RP'S 7 8 TYPFS 1 2 3 695 -17 -2.679 -1.587 -377 -51 -------- NET -9 31 208 I0fr 100 I ♦ SECTORI -991 75 36 39 -1.066 13 14 15 15 SPONSOPED^RCOIT^GENCIES 831 529 265 264 302 -68 -162 396 11 13 IT «.s. g o v e r n m e n t 3.37T 10 14 1* 11 12 13 14 15 OTHER + ^ PEITS BANKERS' AC CEPTANCES NONFINANCIAL BUSINESS CORPORATE NONCORPORATE REST OF THE WO RL D . . . . . . . . teORLD AGENCIES COMMERCIAL BANKING 108 FINANCE COMPANIES 1*—89 2.563 5 F ‘S p O N S O R E ^ C H E D l T 300 ^ BUS.HESS B U S I NG E0 SV SE R N M E N T S 113 J.I 566 1.3*2 1 030 1.030 Z.7^5 21 ^ ,.266 -448 448 1.3 £ -I * • « I “ S S S S a SECT0RS* NONFAPM^NONCORP. 85 2.863 ,"!!? 36* « • -991155 « « n l „ 4 338 -224 83 661 248 -818 615 663 , INCREASE *•?!? -,38 1.28* 0 P EN_MARKRT 947 4.284 i S ” * 1.447 396 -116 312 „ 42 1 . 7 9 41 2 8 81 . 2 8 8 - 2 1 4 2.039 II 3*jag i:i% TOTALS a 645 318 - 1 ,11 9 6 n -1.337 —?.449 -181 0 7 SECTOR 1 q 73 I ” __________ _* ________ ” _______” I „ !:g -3.967 0 — i *ij 2.397 43 45 2 .*60 }! *.945 i tq i LOANS n "g I 0 | I H Y P O T H E C A T E D O E P . (-HH- L I A B . > ASSET-COMMERCIAL 6ANKS 16 17 18 19 T-NOVEMBER SECURITY 1973 CREDIT* TRADE CREDIT* AND T a XES SECURITY SECURITY CR EDIT, TR AD E CR ED IT * AND TA X E S (MILLIONS OF DOLLARS) _____________________ 1971 1972 I | II 1971 H i IV 1972 I xi i n 3.776 2.609 33 8.854 4.672 84 337 903 -14 744 643 4.083 1 .061 20 -8 1.504 2.075 67 2.663 1 .6 U 2 -40 4 5 1.134 652 -552 -336 3.030 2.782 0 7 0 482 0 -216 -638 ■1 . 0 0 0 1.0 21 0 4.098 3.838 87 173 81 ?67 6 0 -186 248 0 362 8 3.776 520 8.854 118 337 -124 744 9 -10 0 4.083 270 10 11 12 775 2.519 -38 4.757 3.924 55 -304 857 -9? 304 626 2.911 924 -86 -22 1 2 4.565 491 15.910 485 84 547 3 4 1.211 1.0 00 -1.140 -171 1.523 12? 316 1 .764 3.585 569 -677 526 13.566 597 -118 551 13 4.301 5.630 -1 . 7 0 4 291 84 14 264 5 6 7 8 9 10 11 12 H I -5.717 -984 -48 -2.175 -1.337 -2.265 -1.020 -122 8 -155 57 3 .870 3 .447 87 336 -4.685 -4.069 -335 -313 0 -212 -716 -354 -160 -28 1 -202 -1.253 -927 -142 -184 1.504 348 2.663 -300 462 -186 4 .225 256 -5.717 -225 -2.175 -207 -2.265 -189 -911 2.053 14 1.598 1.378 -13 302 372 -26 3,. 7 6 8 -4.316 - 1.12 0 -56 -341 -1.632 5 -1.361 -720 5 6.828 4.390 1.334 , 12 1 80 NE T C H A N G E IN L I A B I L I T I E S HOUSEHOLDS FOREIGN 1 2 3 4 BROKERS ♦ DEALERS FROM COMMERCIAL BANKS F R O M F O R E I G N B A N K I N G AGS. CUSTOMER CREDIT BALANCES N E T C H A N G E IN HOUSEHOLDS 5 6 7 ASSETS COMMERCIAL BANKING BROKERS AND DEALERS FOREIGN e 9 10 U 12 CREDIT 726 3.966 1 22 1 22 121 121 121 266 1.107 245 3.096 239 2.178 250 -6.552 -1.677 123 258 877 8.464 123 279 2.209 10.761 125 331 2.780 -631 143 -364 173 1 .143 149 -937 147 -139 945 150 -545 -46 3.532 151 107 500 10.026 149 459 -63 -2.663 150 -158 -264 6.440 7.430 149 85 7.396 147 -431 164 20.037 19.750 -819 289 817 606 1.481 -434 -692 -17? 70 360 5.141 5.028 4 73 36 4.333 3.937 74 312 5.998 5.914 -173 73 184 4.565 4.871 -660 69 285 6.333 70 -85 2.926 3. 1 ? 4 -236 64 -26 7.172 6.848 330 6? -4.127 917 1.958 981 •4.415 -367 830 -175 -8.010 1.221 1 ,. 4 5 7 1 .257 4.111 3.357 03 275 61 -1.521 -1.313 324 -290 182 76 52 15 -207 18 -38 -36 3.746 3.295 70 100 60 87 72 50 12 TOTAL TAXES PAYABLE CORPORATE BUSINESS MONETARY AUTHORITIES COMMERCIAL BANKS SAVINGS ♦ LOAN ASSOCIATIONS LIFE INSURANCE COMPANIFS OTHER INSURANCE COMPANIES FINANCE COMPANIES BROKERS ♦ DEALERS TOTAL TAXES RECEIVABLE U.S. GO VE RN ME NT STATE ♦ LOCAL GOVERNMENTS 12 DISCREPANCY 13 TOTAL HO US EH OL D INVESTMENT FARM B U S I N E S S NONFARM NONCORPORATE BUSINESS 1 2 3 -860 9 -10 25 10 11 12 1 .629 1.333 296 989 500 489 13 175 -295 86 160 694 611 -21 -200 123 15 120 21 87* 594 44 112 21 80 - 1? 2b 68 151 17 68 19 -99 -98 -4.953 -4.043 -910 10 TAXFS *3.905 -3.320 66 -12 -285 5 -201 23 10 0 10 10 -14 -51 -27 -2.992 -3.02? 30 1.758 1 .830 -72 1 .469 1.328 141 1.525 1.227 298 1.42? -884 -1.401 396 -860 -616 -777 -675 -244 -102 -847 -778 -69 -1.015 -972 -43 951 -91 130 40 96 47 126 0 34 -?4 ?1 20 65 97 C H A N G E IN L I A B I L I T I E S HOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUSINESS (Pa y a b l e s l e s s r e c e i v a b l e s ) 1 2 3 4 5 6 7 12 CORPORATE BUSINESS STATE ♦ LOCAL GOVERNMENTS U.S. GO VE RN ME NT FOREIGN -68 10.332 9.807 43 58 424 N E T C H A N G E IN A S S E T S CORPORATE BUSINESS U.S. GO V E R N M E N T OTHER INSURANCE COMPANIES FOREIGN 9 10 H 12 1.292 429 DISCREPANCY 14 149 -336 -400 -6 6 21 28 ?9 14 -4.939 -5.017 78 1.704 1.714 2 ., 6 99 2 ,,5 76 -10 3.631 3.332 299 -2.940 -3.066 126 4.373 4.373 123 1 .034 -483 - 1 .. 242 480 1.419 -627 -1 . 9 0 0 -1.367 -513 -2.065 -1.424 -641 -2.144 -1.209 -935 IN N O N C O R P O R A T E b 13 -1.431 -1.095 -336 -1.326 -924 -402 0 1 2 3 4 5 6 7 8 9 10 11 BUSINESS - 1.18 1 -1.052 -129 111/73 FIGURES ARE TENTATIVF ESTIMATFS BASED ON INCOMPLETE INFORMATION. 6 .061 110 NET PAYABLE 1 .921 1.723 -44 -45 44 144 PR O P R I r TO RS * EQ U I T Y >3.416 •2 . 8 0 8 -608 FLOWS 291 -7.142 8 7 TAXES 121 -1.570 -747 3 -435 -9 -234 -49 -59 -40 6 AND 317 2.983 1 .804 1.991 -33 -27 59 -70 -115 9 3 4 5 QUARTERLY 4 .225 295 60 PROFIT 1 2 I Tq73 II 462 620 -3 TRADE CREDIT* CREDIT 3 4. IV | I TRADE 20 UNADJUSTED | | SECURITY 1 2 CREDIT* PAYABLE 7 N O V E M B E R 1973 MISCELLANEOUS I MISCELLANEOUS 21 i MISCELLANEOUS f i n a n c i a l c l a i m s ( M I L L I O N S OF DO LL A R S ) UNADJUSTED QUARTFNLY UNADJUSTED FLO*S I | II II QUARTERLY flows 1971 197? 1971 III II III 1971 1972 1 2 3 4 8.379 318 -116 H28 20,927 540 16 0 30 - ? 04 76 1 382 5,384 74 -425 -?34 -1.293 80 184 363 7 .255 119 -361 -109 1.109 142 183 106 8,097 146 178 -295 4.466 113 16 0 3?8 12,909 1?2 253 ?33 6,92] 115 475 54 12.865 103 221 -485 5 6 7 8 2.7H3 -981 -172 -2,746 16,17b 282 -1.024 9.300 -1.998 -1.355 -63 -2.660 4,006 -159 -?63 3,032 -2,541 29 336 -3.179 5.362 386 106 2.770 673 -181 -674 -652 7,061 -31 456 4.113 3.079 108 -912 3,069 8.9?6 261 407 5.167 5,331 251 -40* 3.038 12.108 -84 141 9.362 9 10 11 12 13 14 79 4 1?P 2.130 3.570 68 4,566 71 1 215 2,H60 3,680 1 51 4,022 161 209 804 890 16 1.335 744 173 464 89a 17 1,063 -863 -320 533 903 20 621 511 182 496 910 1 2.244 45 258 876 917 84 5 763 178 641 923 18 1.007 -608 -403 847 930 48 766 1.160 260 734 937 0 3,465 3 366 1.137 944 0 946 437 358 943 951 0 918 15 16 17 18 19 20 6,5«0 2.304 568 794 6.239 70 17,464 2,677 493 7?2 4,339 103 -1.08* 56? 145 ?06 ? .323 -30 3,154 559 133 ? 04 1,624 101 1.064 589 155 192 490 45 7.502 641 1 14 186 2.469 -71 2.135 667 126 182 606 57 5.839 681 101 176 2.182 33 1.988 68A 15 2 17 8 -918 84 9,535 706 132 188 3.539 103 8.704 71? 160 19.1 2.269 98 5.792 727 169 201 1.470 27 21 ?? 23 3.373 554 1 .219 *5,984 645 3,078 - 1 .«?4 1 31 -1.36? 1.383 392 1 .020 -647 -287 -663 4.661 61 3.353 -1.233 310 -2,289 ? •73 9 808 ?• 2 4 7 -183 -534 -?13 4,776 -106 3,845 2.181 346 797 3.731 569 3.489 24 ?5 26 27 28 29 30 ?37 3?8 918 68 0 49 -6.768 188 783 1 ,007 -*23 0 506 3, 1 4 6 -963 76 ?36 31 0 27 -2.468 -633 333 ?36 24 0 11 -850 498 -414 222 -4 0 1 240 714 22 4 246 -36 0 99 -498 197 249 ?55 -70 0 115 1,730 -504 -128 256 -72 0 132 -73 - ? 19 438 250 -45 0 160 1 .987 70? -?7 244 -16 0 134 91 250 373 24 1 15 0 15 2 3,080 -439 -272 235 -19 0 168 -533 31 1 .799 3,463 882 2.230 -2.357 -247 -1.026 2.258 2.478 3,464 -1,783 7,073 TOTAL LIABILITIES HOUSEHOLDS CORPORATE BUSINESS U.S. g o v e r n m e n t 1 2 3 4 5 6 7 8 TOTAL FINANCE SPONSORED CREDIT AGENCIES MONETARY AUTHORITIES COMMERCIAL BANKING SAVINGS ♦ LOAN MUTUAL SAVINGS LIFE INSURANCE NO NL IF E INSUR. REITS RE S T OF THE WO R L D ASSNS. BANKS COMPANIES COMPANIES TOTAL ASSETS HOUSEHOLDS FARM BUSINESS NONFARM NONCORP. BUSINESS CORPORATE BUSINESS U.S. g o v e r n m e n t 9 10 11 12 13 14 15 16 17 18 19 20 TOTAL FINANCE SPONSORED CREDIT AGENCIES COMMERCIAL BANKING 21 22 23 SAVINGS ♦ LOAN MUTUAL SAVINGS LIFE INSURANCE PRIVATE PENSION S. ♦ L. G O V T . * HEITS REST OF THE WO RL D 24 25 26 27 28 29 30 u n a l l o c a t e d (A) ASSNS. BANKS COMPANIES FUNDS RTR. FUNDS * NET 31 OEPOSITS 32 33 34 - 4 . (169 -4,752 683 933 497 436 -1 . 4 1 1 -1.55? 14 1 1 .?55 978 277 -1.339 -1.574 235 408 622 -214 34 1 -90 431 998 588 410 •814 •623 •191 -277 -279 2 691 394 290 615 205 410 COMMERCIAL BANK LIABILITY TO F O R E I G N A F F I L I A T E S ASSET -REST OF THE WORLD LIAB. -C OM ME RC IA L BANKS F O R E I G N B A N K I N G AGS* 32 33 34 35 36 37 38 39 1.352 1 .387 -182 175 -28 3.578 1,784 -167 229 1,732 56? 619 -79 -18 40 299 ?38 -6 61 6 204 246 -17 68 -93 1 .399 787 -108 12? 598 723 681 -14 -30 86 1.727 1.198 -14 -14 557 •?71 •882 -11 151 491 1.479 1.178 ?6 -103 378 1.869 1.00ft 17 102 75P 801 200 25 -61 637 FOREIGN CURR. EXCEPT OFFICIAL LI AB . - R E S T OF THE W O R L D ’ ASSET -CORPORATE BUSINESS U.S. g o v e r n m e n t COMMERCIAL BANKS F O R E I G N B A N K I N G AGS* 35 36 37 38 39 40 0 0 0 0 0 0 0 0 0 0 0 0 POSTAL SAVINGS DEPOSITS (LlAB.-U.S. GOVT.) ASSET-HOUSEHOLDS 40 970 990 DIRECT FO RE IG N INVESTMENT BY U.S. C O R P O R A T I O N S L I A B . - R E S T OF TH E W O R L D M 221 DIRECT FOREIGN INVESTMENT IN U. S. UA 8. - C O R P O R A T E BUSINESS 48^ U . S. - G O V T . E W . I N I B R D » E7 C » L I - » E S T o r THC WORLD 43 41 42 4i 3.782 1 .381 160 -116 270 ?S2 1,440 1 4* 1.110 -425 107 -36 L84 62 396 ■361 37 -368 183 71 686 -333 178 47 160 H i 2,076 253 475 2 77 44 -541 -241 -1,313 -662 33* 219 -262 -302 104 -25r 16? 45 46 117 0 258 0 -1 0 13 0 63 & 107 0 52 0 19 0 80 0 218 0 135 0 47 48 4* 50 7Q 13 23 H *0 15 6 5 -27 4 2 9 -2 37 1 7 18 7 3 6 91 29 7 4 12 4* ?4 S 3 lA«r 12 18 138 5 2 4' ft rif/73 FIGURES ARE T E NT a TJVF ESTIMATES BASED ON INCOMPLETE TNFORK/kTrON* 4 ' 27 57* 5 65 -275 DEPOSITS AT FHLB <ASSE7-S*L ASSOCIATIONS! LI AB .- SP OH SO RE D CREOIT ACS. 1 4 8 E O . IN U..S* 6 0 V T . C R E D I T A $ S » 0 U.S. GOVERNMENT PRIVATE 51 F 4 RM ~ B U S I N E S S f F T C B ♦ F L B * 1! #0*FAW* NONCORPORATE r s o 4C O R P O R A T E B U S I N E S S (FN*A) 82 S*L A S SO CI AT IO NS tFHL&K 44 45 46 47 4t 4% 50 7 NO VE MH ER 1973 M I S C E L L A N E O U S II MISCELLANEOUS 22 22 UNADJUSTED 1971 QUARTERLY 1972 II MI SC EL LA NE OU S FI NA NC IA L CL AI MS (CONTINUED) (M IL LI ON S OF DO LL AR S) UNADJUSTED FLOWS I I 19/1 ITT II IV | | .I 19 72 I II H I IV I T 1973 II 31 8 540 74 76 80 11 9 142 146 133 1?2 115 1 2 3 4 31 1 112 199 322 113 209 332 116 216 342 116 2?6 350 116 234 360 117 243 890 301 130 ?oo ?59 898 30 0 129 ?02 ?67 903 321 11 8 191 273 910 340 10 7 18 3 280 917 356 97 175 289 923 359 96 17 4 2 94 930 356 103 178 293 937 364 183 282 944 36? 11 ? 185 285 951 367 118 190 276 3.463 882 2.230 -2.357 -247 -1.026 ?.?58 2 .478 3.464 -1.78T 7.073 2.*54 7 821 -820 -557 9.102 1 29 -1.207 265 -758 -3 385 -716 -41 2.456 0 -234 -453 49 0 -2.021 0 363 391 -373 2.720 1 -110 -588 60 -1.001 0 106 -421 29 3.353 0 -295 -1.453 252 4 .030 0 328 1 .255 -76 8 .0?9 0 ?33 -167 300 1.118 0 54 -1.983 -46 8.949 0 -485 -875 43 16 17 18 19 20 794 1? 0 1.070 68 -172 711 215 1.594 151 - 1 .0?4 161 209 543 16 -63 744 173 ?05 17 -?63 -863 -320 265 20 336 511 182 195 1 106 45 258 565 84 -674 763 178 319 18 456 -608 -403 515 48 -912 1.160 260 392 0 407 3 366 787 0 -408 437 358 583 0 141 21 22 23 24 25 1.902 1 .679 5 71 -857 509 6 .8?7 b ,4 1 2 -1.298 1.247 466 -1.935 -1.629 1 16 -386 -36 2.263 1 .*54 -269 309 369 -831 -490 -287 -273 219 1.333 2.037 -273 -321 -110 -1.270 -476 -410 -277 -107 ? .065 ? . 159 -569 353 122 4 .609 2 .692 1 .492 56 1 2 .6 ? 6 1 .668 275 733 -50 1.406 2.025 -807 223 -35 26 27 28 29 -579 -1.063 1.005 521 1 .541) 2.316 -43 733 686 -878 1 .32? -242 -486 -1.755 1.469 ?oo -1 . 0 0 9 1 09 -1.144 -26 1.029 -475 1 .843 339 277 161 -276 -392 1.050 -413 1 .744 28 1 -816 3 .043 ■3 . 3 5 4 505 2.818 -2.759 5.191 -386 30 31 32 33 34 35 36 37 855 -2.583 554 767 3?8 600 68 49 5.639 2.053 645 291 78 3 467 -223 506 -1.640 -1.058 131 377 76 160 31 ?7 226 -1.680 392 31 333 162 24 11 336 1.395 -287 141 -414 142 -4 1 2.967 -545 61 404 224 127 -36 99 25 1.206 310 447 249 11 3 -70 115 1 .095 -1.249 808 -?10 -128 110 -72 132 1 .552 2 .641 -534 -350 438 11 7 -45 16 0 4.565 115 38 39 40 1 . 3 31 -330 71 2.010 -903 10 -564 -657 -163 1.173 -453 233 -705 -110 177 816 1.992 -175 -338 -1.864 -143 1 .475 374 -145 57 •1 . 4 0 5 473 ?61 10? 159 5 6 7 8 9 3.570 1.244 498 78 1 1 .047 3.680 1.411 403 710 1 . 156 10 1 .799 11 12 13 14 15 . (0) 108 (E) -46 111/73 FIGURES ARE TFNT a TIVF ESTIMATES BASED ON INCOMPLETE INFORMATION. CLAIMS LIFE COMPANY RESERVES (ASSET-HOUSEHOLDS) L I A B . - L I F E I N S U R A N C E COS. AC CI DE NT AND HEALTH PO LI CY D I VI DE ND ACCUM. 30 1 11 4 187 1.266 455 01 1 INSURANCE 103 268 102 166 1 .060 418 64? LIFE OEFERRED AND UNPAID PREMIUMS (ASSET-LIFE INSURANCE) LIAB.-HOUSEHOLDS ?59 96 16 3 2 3 4 FLOWS II I (C) 1 QUARTERLY NONLIFE INSURANCE CLAIMS L l A B .- OT HE R INSURANCE ASSET-HOUSEHOLDS FARM BUSINESS N O N F A R M N O NC OR P. BUS. CORPORATE BUSINESS UNALLOCATED NET TOTAL ASSETS (LIAB. 5 6 7 8 9 ♦ LIAB. LESS ASSETS) 10 TOTAL LI AB IL IT IE S U.S. G O V E R N M E N T U.S. G O V T .- WI TH OU T LEVELS REST OF THE WORLD SP ON SO RE D CREDIT AGENCIES 11 12 13 14 15 SA V I N G S ♦ L O AN ASSNS. MUTUAL SA VI NG S BANKS LIFE INSURANCE REITS MONETARY AUTHORITIES 16 17 18 19 20 1.005 962 -415 473 -15 COMMERCIAL BANKING CO MM ER CI AL BANKS BANK AFFILIATES FOREIGN BANKING AGENCIES B A N K S IN U . S . PO SS . 21 2? 23 24 25 930 -2.560 3.787 288 7.742 2.682 4.966 -94 F L O A T S IN C O M L . B A N K S T M N T ON INTERBANK DEPOSITS ON I N T E R B A N K LO AN S LE SS * ON M E M B E R BK. RES. 26 27 28 29 773 -?7 1?2 -16 13 4 2.901 1.91? 346 3? 373 126 15 15? 1.876 -1.369 569 -?46 -272 132 -19 168 TOTAL ASSETS REST OF THE WORLD SPONSORED CREDIT AGENCIES SAVI NG S ♦ LO AN ASSNS. MUTUAL SAVINGS BANKS LIFE INSURANCE PRIVATE PENSION FUNDS REITS 30 31 32 33 34 35 36 37 2.538 1.048 -16 28? -38® 51 2.056 824 33 COMMERCIAL BANKS FOREIGN BANKING AGENCIES B A N K S IN U . S . P O S S E S S I O N S 38 39 40 -106 7 NOVEMBER total 1973 TOTAL CLAIMS claims 23 23 TOTAL FINANCIAL ASSETS AND LIABILITIES (MILLIONS OF DOLLARS) UNADJUSTEO QUARTERLY UNADJUSTED QUARTERLY FLOWS FLOWS TOTAI. 1973 II 1972 14 r\ III II FUNDS RAISED AND ADVANCED II I IN credit MARKETS (1) 1 2 3 4 5 6 7 8 9 146.698 25.500 5.725 115.473 16.991 38.320 4.098 8.694 47.370 166.115 17.317 3.432 145.366 12.275 63.316 4.857 10.373 54.545 38.377 1.820 1 .669 34.888 4.379 11.524 1 .746 2.853 14.386 41.434 9.603 1.878 29.953 4.158 10.130 733 1 .976 12.956 46.649 12.503 1.273 32.873 3.295 15.984 243 2.399 10.952 26.975 4.293 942 21.740 3.882 7.258 1.252 951 8.397 37.027 -5.651 362 42.316 2.672 17.757 2.119 3.251 16.517 39.P56 5.738 357 33.161 3.179 15.643 587 2.332 11.420 6P.857 12.937 1.771 48.149 2.542 22.658 899 3.839 18.211 46.5?5 8.839 3.297 34.389 1.6^3 11.214 2.013 2.664 16.895 47.144 -5.92? 1.79? 51.274 2.787 21.270 2.847 3.739 20.631 F U N D S R A I S E D I N C R E D I T M K T S . BY l 37.390 NONFINANCIAL SECTORS U.S. g o v e r n m e n t -421 FOREIGN -705 38.516 PRIVATE DOMESTIC S. ♦ L. g o v e r n m e n t s 928 house h ol ds 18,182 FARM BUSINESS 1,577 NO NF AR M NO NC OR P. BUS. 3,647 CORPORATE BUSINESS 14,182 10 11 12 13 14 15 16 17 18 19 16.477 4.296 1.992 -376 1.641 3 599 4.212 2.929 1.101 28.378 6.182 3.308 664 844 1 .972 600 9.117 6.324 -633 389 313 -1.276 41 46 -795 153 1.553 702 -348 5 .?7 7 2.017 1.341 167 388 777 159 -497 709 216 8.774 1.955 -18 73 1.225 704 153 2.980 870 832 6.255 1.392 2.563 199 1.392 -2.267 150 964 1.589 273 6.168 2.115 842 -201 -801 1.319 150 1.852 1.571 -679 6.252 1 .083 -480 397 1.710 1.034 150 1 .419 1.168 -229 9.703 1.592 383 269 -1.457 1.886 150 4.882 1 .996 2 11.436 2.684 2.529 819 1.985 201 150 1.830 1.576 -338 15.661 5.874 -81? 827 1.423 3.317 15 0 3.608 1.75? -478 16,149 7,605 1.647 948 -172 2,984 150 1.279 1.945 -?37 20 163.175 194.493 38.766 46.711 S5.423 33.230 43.195 45.508 72.560 57.961 62.805 21 22 23 24 25 -9.577 -14.681 687 6.H55 -2.438 9.578 3.051 1.074 3.492 1 .961 -930 -6.436 588 5.598 -680 8.100 7.226 -46 1 .793 -873 -6.773 -5.192 45 -888 -738 1.745 1.102 -30 -68 741 -632 -1.087 126 232 97 1.455 2.824 -77 -1.288 -4 7.010 212 1 .055 4.616 1.127 1.660 1 .979 77 -360 -36 4.738 1.628 181 3.150 -221 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 FINANCIAL SECTORS SPONSORED CREDIT AGENCIES COMMERCIAL BANKS BANK AF FI LI AT ES FOREIGN BANKING AGENCIES SAVINGS ♦ LOAN ASSNS. OTHER INSURANCE COMPANIES f inance compa n ie s 53.539 REITS OPEN -E ND INVESTMENT COS. ■ TOTAL FUNDS RAIS ED AND A D V A N C E D IN C R E D I T M A R K E T S 20 10.235 7.647 -99 733 1.954 N E T A C Q U I S I T I O N S BYl P R I V A T E DOMESTIC NONFINANCIAL SECTORS HOUSEHOLDS NONFARM NONCORP. BUSINESS CORPORATE BUSINESS STATE ♦ LOCAL GO VERNMENTS 21 22 23 24 25 U.S. GOVERNMENT 26 26 3.222 2.313 956 6?6 444 820 -53 1.056 490 471 -237 1.063 27 28 29 142.279 2.f> 02 8.848 171.950 6.013 184 37.221 -1.136 1.101 28.395 1.316 2.108 51.998 2.397 3.359 26.977 1.853 -184 43.466 1.624 1.629 37.529 300 -1.718 63.978 2.236 457 4 6 . 3?4 3.113 4.127 60.34? 5.859 1.179 41.684 7.022 489 30 31 32 33 34 50.575 50.279 -114 99 31 1 69.840 68.824 -24 2 971 287 17.294 17.312 200 -310 92 7.336 6.975 -98 387 72 23.326 22.960 -120 451 35 5.084 5.683 -68 -549 18 16.961 17.534 -476 -71 -26 15.220 14.572 -32 466 214 32.575 31.035 334 1.125 81 17.019 15.161 563 1.349 -54 27.443 26,618 35o 533 -67 14.926 13.302 1.117 534 -27 COMMERCIAL BANKING COMMERCIAL BANKS BANK AFFILIATES FOREIGN BANKING AGENCIES B A N K S IN U . S . P O S S E S I O N S 35 36 37 38 80.054 29.367 9.927 2.632 95.913 36.479 9.974 2.824 19.962 7.838 2.914 1 .022 17.635 7.561 1.616 651 22.916 5.965 2.161 696 20.224 8.456 3.580 528 23.252 6.998 2.486 969 23.727 9.995 2.535 752 28.710 9.030 1.373 575 22.065 10.196 3.020 574 25.861 9.339 1,587 1.001 19.247 4,990 1,070 1,055 PRIVATE NONBANK FINANCE SAVINGS ♦ LOAN ASSNS. MUTUAL SAVINGS BANKS CREDIT UNIONS 39 40 41 42 11.758 7.351 6.915 6.248 13,629 5.752 7.279 5.832 2.586 2.011 1.71? 1.673 3.013 1.213 1 .997 1.732 2.740 2.504 1.397 1 .680 4.127 1.164 1.193 1.337 2.764 1.560 2.658 1.215 3.627 1.386 1.817 1.526 3.111 1.642 1.611 1.754 4.758 1.967 1.995 1.502 3.353 1.115 2.788 1.517 4,759 1,693 1,854 1,742 LIFE INSURANCE COMPANIES PRIVATE PENSION FUNDS S. ♦ L . G O V T , * R T R . F U N D S OTHER INSURANCE COMPANIES 39 40 41 42 43 44 45 46 4.112 2.544 444 -1.244 10.758 4.844 -1.838 380 1 .386 58? -340 -1.42? -4?3 616 171 -512 2.432 750 430 2.161 1.303 1.290 -122 -2.632 2.507 1.196 -763 -338 2.006 802 -264 -455 4.942 1.556 -689 3.805 1.560 1.151 -1.155 -3.505 3.598 1.275 -626 914 1,573 1.414 -397 -506 FINANCE COMPANIES PEITS O P EN -E ND IN VE ST ME NT COS. SECURITY BROKERS ♦ DEALERS 43 44 45 46 47 27.251 10.652 7.362 9.590 3.911 3.688 414 5.468 1.082 9.506 -2.038 557 TOTAL CtAIMS ANO THETR RELATION TO TOTAL FINANCIAL 194.493 38.766 46.711 S5.423 33.230 43.195 45.508 72.560 57.961 62,805 53.539 2 3 -1.731 490 -155 533 -}86 143 -923 114 6 135 -63 173 93 153 -119 111 -66 96 -2?0 P8 -A 193 13 64 4 5 6 7 8 99.592 58.766 17.403 41.363 40•*26 109.122 62.727 20.384 42.343 46.395 30.527 19,525 12.797 6.728 11.00? 13.126 5.655 -2.065 7.720 7.471 18.780 29.673 19.204 10.469 9.107 14.836 125 -10.308 10.433 14.711 29.401 18.439 8.325 10.114 10.962 20.198 10.094 -562 10.656 10.104 44.687 34.069 22.929 11.140 10.618 21.407 8.885 -11.191 20.076 l2.5?2 31,634 22.828 11.014 11.814 8. 8 0 6 5.208 5,082 -8.952 14,034 126 9 28.270 28.023 8.168 6.553 7.124 4.655 9.183 6.763 7.4?? 7 .1 ? 9 9.440 6,592 10 11 12 13 14 3.776 4.565 1.804 -3.416 8.379 8.854 15.910 694 -4.953 20.927 337 1.523 -1.570 -860 -204 744 4.884 874^ -777 5.384 4.083 547 68 -847 -1.293 1 .504 7?6 1.921 -1.015 7.255 2.663 3.966 -3.905 -1.431 1.109 462 6.828 1.221 -1.326 8.097 4.225 4.390 1.457 -1.181 4.466 -5.717 -1.677 4.111 -1.900 12.999 -2.175 8.464 -1.521 -2.065 6.921 -2,265 10,761 3,746 -2,144 12,865 15 5.582 1.985 1 .161 1.266 1.813 638 1.553 3.177 -3.383 3.765 552 8,016 16 310.486 375.433 77.805 77.956 1^5.039 63.860 85.980 90.920 134.673 97.946 114.249 96,395 17 18 19 -173 2.281 264 1.390 1.745 -4,127 107 1 .898 917 148 -1.368 1.958 -81 1.757 981 830 -1.342 -4.415 57 1.823 -367 538 -2.165 830 -35 3.429 -175 571 -1.438 -8,010 -501 2*606 1,292 -729 -3,273 429 20 21 22 12 175 1 .799 -153 -295 3,463 -7 1.422 882 30 -884 2.230 12 -1,401 -2,357 -95 396 -247 -18 1.034 -1.026 -23 -483 2.258 -17 -1.242 2.478 -19 480 3,464 8? 1.410 -1.783 -4 -627 7,073 23 306.128 373,410 72.586 75.842 106,928 68.733 84.477 89.965 130,235 102,896 111.134 93.526 U> ESTIMATES BASED ON INCOMPLETE INFORMATION. REST OF THE 27 28 29 30 31 32 33 - 34 35 36 37 38 47 WORLD ASSETS 1 163.175 111/73 FIGURES ARE TENTATIVE FINANCIAL INSTITUTIONS SPONSORED CREOIT AGENCIES FEDERAL RESERVE SYSTEM TOTAL CREDIT MARKET DEBT (FROM P R E C E D I N G TABLE) OTHER LIABILITIES: OFFICIAL FOREIGN EXCHANGE TREASURY CURRENCY D E P O S I T S AT F I N A N C I A L IN S T S . BANKING SYSTEM DEMAND DEP. ♦ CU RR EN CY TIME ♦ SAVINGS DEPOSITS SAVINGS INSTITUTIONS INSURANCE SECURITY trade ♦ PENSION RESERVES CREDIT debt PROFIT TAXES PAYABLE NONCORP. PROPRIETORS* MISCELLANEOUS INTERBANK EQUITY CLAIMS 1 2 3 4 5 6 7 6 9 10 11 12 13 14 15 TOTAL DEBT ABOVE - F L O A T S N O T I N C L . IN A S S E T S DEMAND DEPOSrTS-U.S. GOVT. other 16 17 16 19 TRADE CREOIT - LI ABILITIES NOT ALLOCATED AS ASSETS TREASURY CURRENCY TAXES PAYABLE MISCELLANEOUS 20 21 22 TOTALS ALLOCATED AS AS SE TS 23- INCLUDES CORPORATE TO SECTORS EQUITIES. 7 NO V E M H E R 1973 S A V I N G HY INDIVIDOAI S SAVING BY INDIVIDUALS 24 24 AMOUNT AND COMPOSITION OF INDIVIDUALS' SAVING (1) (MILLIONS OF DOLLARS) UNADJUSTED UUARTFRLY UNADJUSTED FLOWS I II 1972 19/1 ITI II QUARTERLY FLOWS 1073 II III 1971 1972 99.928 11 . 0 1 0 70.456 124.909 12.926 75.82b 25.1 M 5. 35 9 15.99? ? 6 .968 -589 13.028 ->9.317 ^ 1.269 I5.5b6 24.981 -3.943 21.908 31.045 3.292 18.856 31.637 1 .858 19.497 37.246 11.719 15.5*4 24.472 -7.903 22.389 36.071 6.667 17.281 28.021 1.312 11.661 -14.739 2.425 -11.709 -3.462 -874 5.080 3.295 1 .538 -475 1 .296 -4.627 676 -4.2P5 -184 -847 7.046 M 2 1.927 260 1 .272 -6.868 657 .4.010 2*8 - 1 . 0 72 1 .946 797 1.429 -1.485 578 -*39 847 -2.590 660 133 2.895 772 1.069 429 23 1.078 879 1.630 -79 562 2.501 89 1 582 1 .765 496 1.58A 911 - 66 ? 1.239 559 7.240 441 5.076 3.502 649 9 10 11 12 8.172 -3.880 1.181 -6.592 4.851 432 -633 -5.224 2.913 -1 . 2 2 9 -348 -1 . 3 2 3 2.889 -3»2 21b ?5<? -20 -984 832 -2.559 2.280 -947 273 -979 1.037 596 -679 -843 1.198 -893 -229 526 336 1 .676 2 -3.928 6?4 -1.5?0 -338 1 1.288 -510 -478 -759 462 -469 -237 -2.184 13 14 15 16 17 *.101 5.175 7.256 9.718 4.931 7.241 4.600 5.698 10.484 3 • t>55 1 .527 1 .32? 1.717 3.60? ?69 1 .56 7 1 .3«2 1 .347 2.257 93d 1 .5*1 1 .326 2.366 1 .871 2.226 1 .498 1 .197 878 1 .082 415 1 .842 1.178 1 .456 4.707 553 1 .982 1.120 1 .489 2.172 624 1 .919 1.105 1 .875 2.5J>3 1.463 1.918 1..309 2.146 1 .756 356 1.926 1.251 963 5.309 1 .080 1.900 1 .406 1.689 1.597 1.216 18 19 20 21 22 1 6 5 . 7 5 6 190.4*50 34,305 ?6.h49 39.508 34.325 103.491 11 7.409 1.09 1 -772 4 1 .007 5.525 9 . ? 39 26.030 213 41.773 7.0"9 9.306 2 5 . ?34 224 «6.9'»1 8.839 8.403 30 .0 0 1 -34? 41.465 7.979 8.370 24.77? 344 47.079 7.370 10.303 29.430 -24 47.844 8.687 10.687 28.969 -499 54.062 10.2*9 10.148 34.?3« -593 49.092 9.269 9.262 29.606 955 54.441 8.766 11.425 33.991 259 53.651 10.072 11.497 31.980 102 G R O S S I N V . IN T A N G I B L E A S S E T S NONFARM HOMES N O NC OR P. BUS. PLANT ♦ EQUIP. CONSUMFR DURABLES INVENTORIES 18 19 20 21 22 23 24 25 26 121.2*6 9.412 24.398 87.476 13<). 6 R 6 1 ft• 1 7 6 26.675 93.775 30.012 2.324 6.009 21 . 6 7 9 30.533 2.355 6.142 2 2 . i«6 U .155 2.394 6.29S ? 2 •4 6 6 31.*41 2.4?? 6.407 ??•812 32.594 2.727 6.742 23.125 3?.777 ? •4 9 3 6.684 23.600 33.614 ?.534 6.84? ?4.?38 34.366 2.5*0 6.959 24.847 35.16? 2.60? 7.135 25.425 35.847 2.618 7.180 26.049 CAPITAL CONSUMPTION ALLOWANCES NONFARM HOMES NO N C O R P . BUS. PLANT ♦ EQUIP. CONSUMER DURABLES 23 24 25 26 27 28 29 30 31 44.470 17.437 9.^27 16.015 1 .091 59.824 2 4 . 1 ?9 12.833 23.634 -772 10.995 3.201 3.230 4.351 213 11.190 4.654 3. 1 6 4 3. 1 4 8 224 15.746 6.445 2.108 7.535 -34? 9.824 5.557 1 .^63 1 .960 344 14.485 4.643 3.561 6.305 -24 15.067 6.194 4.003 5.369 -499 20.448 7.735 3.306 10.000 -593 14.726 6.709 2.303 4.759 9*5 19.279 6.164 4.290 8.56* 259 17.804 7.454 4.317 5.931 102 N E T I N V. IN T A N G I B L E A S S E T S NONFARM HOMES NO NC OR P. BUS. PLAN T ♦ EQUIP. CONSUMER DURABLES INVENTORIES 27 28 29 30 31 32 33 34 35 36 37 38 54.601 24.138 11.230 11.231 2.609 1.013 4.3*0 85.072 38 .4?3 13.237 19.170 4.672 94b 8.625 19.304 5.339 3 .?5 5 3.*93 903 237 5.877 16.977 6.924 3.463 3.632 643 285 2.030 13.038 8.440 2.657 5.426 1.061 255 -4.80] 13.150 7.914 2.103 -515 2.075 147 1.426 28.413 9.037 3.756 5.933 1.682 313 7.692 21.866 10.182 3.950 5.164 620 259 1.691 21.643 11.290 3.4?8 8. * 8 8 295 226 -2.184 16.287 9.276 3.007 1.756 -984 292 2.940 29.245 10.62? 5.196 7.763 -1.337 387 6.614 25.725 9.930 4.984 5.952 -1.020 777 5.102 increase 32 33 34 35 36 37 38 39 40 41 89.797 9.738 16.015 99.661 10.484 23.634 16.85? 3.60? 4.351 21.181 2 .?5 7 3.148 >2.025 1.871 7.535 21.655 1.082 1.960 17.117 4.70 7 6.305 24.838 ?• 1 7 2 5.369 36.051 2.5?3 10.000 22.91 1 1.756 4.759 26.107 5.309 8.566 20.100 1.597 5.931 42 43 44 776 -48 63.316 1 .420 -42 6 4 . 165 33 -17 8 •P *3 89 -5 15.692 389 -5 ? 2 .235 505 -7 18.115 84 -9 6.030 1 11 -12 17.198 720 -14 2 2 . 8?2 485 -14 15.9?5 30ft -1? 11.944 167 -12 12.417 I N D I V I D U A L S A V I N G (1*27-32) - GO V T . I N S U R A N C E ♦ PEN. RES. - N E T I N V E S T M E N T IN C O N S . D U R . - CAPITAL GAINS DIVIDENDS FROM INVESTMENT COMPANIES - NE T S A V I N G BY FA R M CORPS* s PE RS ON AL SAVING* F/F BASIS 45 60.159 49.744 12.150 16.984 15.831 16.617 5.015 13.388 14.724 lb.869 8.553 14.848 PERSONAL 46 3.157 14.421 - 3 • ?67 - 1 .?92 6.404 1 .498 1.015 3.810 8.098 56 3.391 -2.431 DIFFERENCE (1) 111/73 FIGUHES TENTATIVE ESTIMATES BASED ON INCOMPLETE INFORMATION. I N C R E A S E IN F I N A N C I A L A S S E T S DEMAND DEPOSITS ♦ CURRENCY SAVINGS ACCOUNTS SECURITIES U.S. SA V I N G S BONDS O T H E R U . S. T R E A S U R Y SEC. U. S. G O V T . AG E N C Y SEC. STATE ♦ LOCAL OBLIGATIONS CORPORATE ♦ FOREIGN c om me r ci al BONDS paper IN VE ST ME NT COMPANY SHARES OTHER CORPORATE EQUITIES PRIVATE PRIVATE PRIVATE GOVT. L I F E IN SU RA NC E RES. IN S U R E D P E N S I O N RES. N O N I N S U R E D PEN, RES. I N S U R A N C E ♦ PEN. HES. MISCELLANEOUS in FINAN. ASSETS debt MTG. DEBT ON NONFARM HOMES NO N C O R P BUS. M O RT GA GE DEBT CONSUMER CREDIT SECURITY CREDIT POLICY LOANS OTHER DEBT SAVING* NIA BASIS COMBINED STATEMENT FOR HOUSEHOLDS* AND NONFARM N O N C O R P O R A T E BUSINESS. FaRM* 9 10 11 12 13 14 15 16 17 39 40 42 43 44
