BANKING AND MONETARY DEVELOPMENTS

Transcription

1 February 25, 1974 L.4.3. Not for Publication i f y :. i i-""'' 1 ' BANKING AND MONETARY DEVELOPMENTS January 1974 Banking Section Division of Research and Statistics Board of Governors of the Federal Reserve System

2 TABLE 1 Changes in Commercial Bank Credit, Money Stock, and Time Deposits Seasonally adjusted annual rates (per cent) st 2nd 3rd 4th 1974 Year Year half half Qtr. Qtr. Dec. p Jan.p Total bank credit^ U.S. Gov't sec Other securities Loans ^ Business loans Real estate loans Consumer loans Adjusted for loans sales to bank affiliates Total bank credit^ Loans ^ Business loans / Money stock / Total time deposits / Time other thancd's CD's (dollar change in billions) = ' j7 Adjusted to exclude domestic interbank loans. 2/ Revised series.

3 T Table 2 Loans and Investments at All Commercial Banks (Seasonally Adjusted) Date Total Loans U.S. Gov't. securities Other securities Dec Dec July 26 Aug. 30 Sept. 27 Oct. 25 Nov. 29 Dec Jan. 31 Feb. 28 Mar. 28 Apr. 25 May 30 June 30 July 25 P Aug. 29 P Sept. 26 P Oct. 31 P Nov. 28 P Dec. 31 P Jan. 30 P (In b i l l i o n s d o l l a r s ) iy Adjusted to exclude domestic commercial interbank loans p - Preliminary.

4 TABLE 3 LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS AND BANK CREDIT ADJUSTED FOR SELECTED LOAN SALES Pate 1970 Dec Dac Dec, 1973 Dec. Loans sold outright by commercial banks (outstanding in billions of dollars N.S.A.) Sold to Affiliates 1/ Sold to ndnbank public 2/ Total Business Loans Total Business Loans Total Business Loans and investments tfrlglnlal Adjusted 3/ Commercial bank credit (seasonally adjusted) Original Adjusted 3/ Business loans Original Adjusted 4/ ,7 156,3 112, July 25p Aug. 29p Sept. 26p Oct. 31p Nov. 28p Dec. 31p 1974 Jan 30p , , , , , , Net Change (Billions pf dollars (Annual rates in per cent) 1223 July 30p Aug, 29p Sept. 26p Oct. 31p Nov, 28p Dee, dip l Zi Jan, 30p 0, / 5,3 H 0,1 0,4 0,3 0, , / A 5/ 0.1 5/ 0.1 1/ 5/ 5/ 1/ - 5/ -0.1 It 5/ 5/ 5/ / u / / , ,2 24,2 7, mm 11, / To bank holding companies affiliates, subsidiaries or foreign branches. 2/ To other than banks' and bank-related affiliates or subaidiariaa. 3/ Includes all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. 4/ Includes business loans sold to bank holding companies, affiliatea, subsidiaries, or foreign branches 5/ Less than $50 million.

5 1 ~ TABLE 4 NONDEPOSIT SOURCES OF FUNDS AND METHODS OF FINANCE (Outstandings in billions of dollars) Date Total Euro-dollars Through branches outside U.S. Territories and possessions Through brokers and 1/ 1/ Commercial lasal Loans sold under repurchase agreement 3/ To bank affiliate A! To the nonbank Customer guaranteed «SS Ineligible 1969 May 28 Dec o.i*/ 0.6 ^ ok 1970 June 24 Dec / 0.1 7/ / Dec / July 26 Aug. 30 Sept. 27 Oct. 25 Nov. 29 Dec I I o.i 1973 Jan. 31 Feb. 28 Mar. 28 Apr 25 May 30 June 27 July 25 A6g. 29 Sept. 26 Oct. 31 Nov. 28 Dec , ! i o.i o.i l.l * Z& Jan / I / Includes an indetermine amount of Federal funds purchase# from U.S. Agencies of foreign banks. 2/ Issued by a bank holding company or other bank affiliates. 3/ Loans or participation in pools of loans sold under repurchase agreements. 4/ To bank holding companies, affiliates, or subsidiaries. 5/ To other than banks and bank-related affiliates or subsidiaries. Digitized for FRASER %! Partly estimated. 7/ Less than $50 million. Federal Reserve Bank " of t St. Louis * t f i t

6 i, Table 5 Loans at All Commercial Banks Seasonally Adjusted Date Business Real Estate Consumer Security Nonbank financial Agriculture (In b i l l i o n s of d o l l a r s ) Dec Dec Dec Jan. 31 Feb. 28 Mar. 28 Apr. 25 May 30 June 30 July 25 P Aug. 29 P Sept. 26 P Oct. 31 P Nov. 28 P Dec. 31 P Jan. 30 P p - Preliminary

7 Table 6 Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted (In billions of dollars) Item Q7A. Dec. Jan, Feb. Mar. Apr. Hay June July p Aug.p Sept.p Oct. p Nov. p Dec. p Jan. p Loans and Investments 2/ +6, U, S. Gov*t. securities i/ *7 Other securities Loans 2/ a Business Real estate Consumer ' Security - - 1/ - 1/ Nonbank financial Agriculture All other / J LesjBthan $50million, 2/ Adjustedtoexcludedomesticinterbankloans. I,

8 # # # # # # # # # i Item 1972 Table 6A Changes in Loans and Investments at All Commercial Banks, Seasonally Adjusted Adjusted for loans sold to affiliates (In billions of dollars) Jan. Feb. Mar. Apr. May 1973 June July p Aug.p Sept.p Oct.p Nov. p Dec.p Loans and Investments 2/ U. S. Gov't, securities / Other securities Loans 2/ * Business Jan. p Real estate i Consumer Security Nonbank financial Agriculture NOT A MAILABLE All other i 1J Lees than $50 million, 2/ Adjustedtoexcludedomesticinterbankloans.

9 Table 7 Changes in Loans and Investments at All Commercial Banks, at Weekly Reporting Banks, and at Other Banks, Not Seasonally Adjusted Adjusted for Loans Sold Item End of December to last Wednesdav of Jaitua rv 1974 d 1973 r All commercial banks 2J U. S. Gov't, securities Other securities Total All Large Banks 2/3/ U. S. Gov't, securities Other securities Total / Other banks 2/3/ U. S. Gov't, securities Other securities Total ±0=1 + 1/ Item Year ended December 1973 p 1972 r 1971 y All commercial banks ^ U. S. Gov't, securities Other securities _!/_ Total All Large Banks 2/3/ U. S. Gov't, securities Other securities Total Other banks 2/3/ U. S. Gov't, securities Other securities Total NOTE: Data exclude domestic interbank loans; Call report data for large banks used when available. Loans adjusted to include all loans sold to bank holding companies, affiliates, subsidiaries, or foreign branches. 1/ Less than $50 million. 2/ Based on revised reporting beginning July Changes have been adjusted to maintain comparability of series. 3/ Based on revised coverage beginning July 1966, and January 1967, 1968, 1969, 1970, 1971, and / Allowance has been made in monthly changes in total loans and in other securities for approximately $700 million of Farmers Home Administration insured notes shifted Digitized for FRASER from loans to other securities on June 30, 1971; $200 million were at weekly reporting banks and $500 million at other banks.

10 Business of borrower Table 8 Changes in Commercial and Industrial Loans at Large Commercial Banks (In millions of dollars) Late December to late January V Late December to late December V 1974 D 1973 r D 1972 r Food processors Commodity dealers Trade concerns Z Retail trade Wholesale trade Metals Primary metals Machinery Transportation equipment Other fabricated metals Textiles, apparel, etc Pettoleum r Chemicals Other durable manufacturing Other nondurable manufacturing Mining Public Utilities, total Transportation Communication Other public utilities Construction All other types of business zm5 z2 L ±521 +I9U Bankers acceptances Services Other Foreign business concerns Classified Unclassified l , Total Change mi, 3», i,?., ^ December 25, These data cannot be linked with all commercial bank data which are always for December 31. Digitized for FRASER 1

11 T Dec Dec Dec, Dec Dec, Dec Dec Dec, Dec July. 26 Aug. 30 Sept. 27 Oct. 25 Nov. 29 Dec Jan. 31 Feb. 28 Mar. 28 Apr. 25 May 30 June 30 July 25p Aug. 29P Sept. 26p Oct. 31P Nov. 23p Dec. 31p Jan. 30p 2/ Loans and investments ,6-, 324.0=' J U. S. Gov't JL TABLE 9 Loans and Investments at All Commercial Banks (In billions of dollars) /Not seasonally adjusted) Other securities / 48.8*' ,8* Business Real estate : : Security Farm H.% ITT" : Nonbank financial totitutiong; 10% , All other , p - Preliminary. NOTE: Data exclude domestic interbank loans. Consumer and "other loros" were partly estimated for.11 dates. Other date,are partly estimated on all but 3/ Data revl.ed C beglnn'ng June 1969, to include all bank premises subsidiaries and other significant majority-owned domestic subsidiaries- V : : " : t Z l : :. t c : Z : : t \ ^ : l l u L on December 31, 1969, and loans to nonbank filial institutions increased by $500 million due to change Digitized for FRASER 5/ Beginning S W S l S " H o n k n k financial inatitutlons increased by $300 million, and "other" loans increased by $100 million as the result of loan reclassification# *t one large bank. ^

12 DAT E Aii, commercial tianks TABLE 10 Ratios of Total Deposits ] L 0 AN S *1, M e m b e r B an k s Reserve City Banks Total New York City City of > Chicagc Other Country U.S. Government securities maturing within one year All Commercial banks Dec Dec ' Dec Dec ' Dec : Dec Dec f Dec i Dec Dec. 31*,, 64.7 (63.7) (76.3) Dec. 31*2/ 72.0 (69.8) (86.4) Dec. 31*i/ 67.3 (66.2) (79.6) Dec. 31*2/ 65.7 (65.6) (83.2) Dec. 31* 67.9 (67.7) (85.4) Jan. 31* Feb. 28* Mar. 28* Apr. 25* May 30* June 30* July 25*p Aug. 29*p Sept.26*p Oct. 31*p Nov. 28*p Dec. 31*p 1974 Jan. 30*p MEMBER BANK DATA NOW AVAILABLE ONLY ON CALL DATES (68.9) (69.7) (70.8) (71.1) (72.1) (72.2) (72.9) (73.5) (74.3) (72.5) (73.3) (73.8) 72.6 (72.4) (92.2) n.a. * - Ratios in parentheses are those o obtained by adding Euro-dollars to the deposit base 1/ (adjusted to exclude loans to banks); U.S. Government securities maturing within one year estimated on basis of Treasury survey of ownership; and total deposits (adjusted to exclude cash items in process of collection). 2/ Beginning June 1969, total loans are reported groess of valuation reserves rather than net as previously reported. The higher loan level increased the ratio by about 1.3 percentage points for all commercial banks. 3/ Loan data revised to exclude only loans to domestic commercial banks. Previous ~ data had also excluded loans to foreign commercial banks.

13 TABLE-1! * Money Stock Measures and Deposit Turnover (Seasonally adjusted; dollar amounts in billions) Currency plus demand., deposits M 2 M. plus time dep. at comm. other than., large CD's- M 3 m 2 plus deposits at nonbank thrift 3, institutions Currency Components of money stock measures and related items Demand Deposits CD' Other Total Nonbank thrift institutions U.S. Gov't deposits (mil iw.mhp.r) Turnover outside NY. City (per cent) December December December December July August September October November December January ' February March April May June July August September October November December January n.a. Week ending; January n.a n.a, n.a n.a n.a * Revised series.

14 k TABLE 12-A Period 1965 December December 1967 December 1968 December 1969 December 1970 December 1971 December Total liquid assets Total Currency Demand deposits Commercial banks its Thrift institutions Total Other liauid assets Negotiable CD's Commercial paper U.S. shortterm marketable Treasury securities ' , $ Savings bonds July August September Octobar November December > January February March April May June July August, September Octobar November December * January * For description of items, and computation of ratios see Table 14-C.

15 TABLE 12-B t Period Dec Dec Dec, Dec Dec Dec Dec Dec Dec March June September December 1972 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec Jan. Feb. Mar. Apr. May June July Aug. Sept. ^ Oct. Nov. Dec Jan. Currency Bank Timedeposits Currency anddemand liability atthrift Liquid anddemand depositsto toliquid institutionsto assets deposits liquid assets assets liquidassets tognp tognp ,5 47,5 30,2 78,0 20,8 26,0 47,8 29,4 78, n.a. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a n»a. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a., n.a.. n.a n.a. n.a n.a. n.a n.a. n.a n.a. n.a.

16 TABLE 12 -C Liquid Asset Holdings Sum of columns 2 and 7. Sum of columns 3, 4,5* and 6. Money stock components after deducting foreign holdings and holdings by domestic financial institutions. The three columns add to held by domestic nonfinaneial sectors. Deposits at nonbank thrift institutions, as published in money stock statistics, plus monthly-average deposits at credit unions. Sum of columns 8, 9, 10, and 11. Negotiable certificates of deposits over $100,000 at weekly reporting banks, except foreign holdings. Commercial paper held outside banks and other financial institutions. Short-term marketable U.S. Government securities excluding official, foreign, and financial institution holdings. All issues due in one year or less, including bonds and notes, plus a sliding proportion of issues due in 13 to 24- months. Series E and H savings bonds held by individuals. Sum of columns 3 and 4 to column 1. Column 6 to column 1. Column 1 to GNP. Annual averages are based on 12-month averages of column 1 and annual GNP. Quarterly averages are based on 3-month averages of column 1 and quarterly GNP. Sum of columns 3 and 4 to GNP. Annual averages are based on 12-month average of columns 3 and 4 and annual GNP. Quarterly averages are based on 3-month average of columns 3 and 4 quarterly GNP.