mar 21 1962 - fraserrefunding operation* loans to brokers and dealers for purchasing or carrying...

FEDERAL RESERVE BANK ^ of KANSAS CITY

MAR 21 1962 B*^e3 — Research Library

BANKING AND MONETARY DEVELOPMENTS IN FEBRUARY 1962

Total commercial bank credit increased somewhat in February whereas generally it declines. Total loans and holdings of State and municipal securities rose more than usual, while holdings of U« S« Government securities declined. The seasonally adjusted average money supply declined slightly between the second half of January and the second, half of February* Seasonally adjusted time deposits at all commercial banks continued to show rapid growth® Required and ex-cess reserves of all member banks declined; borrowings from the Federal Reserve were about unchanged*

Bank credit# Total credit at all commercial banks increased $600 million in February* about the same as in February last year (after adjustment for purchases of consumer installment receivables from Sears Roebuck of around $1 billion) and in February 1958* In most other re-cent years credit has declined, often substantially. Loans increased $1.5 billion, much more than in February of any other recent year (after allowance for the Sears' transaction in 1961). However# this year's rise reflected in part a sharp rise in security loans late in the month* Holdings of State, municipal, and other securities rose $U00 million, the same as in February last year when these holdings were expanding rapidly, and more than in any other year* Much of the rise probably reflected delivery of newly-issued municipal securities purchased in January when time deposits were increasing substantially in connection with rate increases* Holdings of U* S* Government securities declined $1*2 billion in February, about in line with the average reduction of recent years*

Credit increased contraseasonally at both weekly reporting banks in leading cities and at other banks in February* Increases in total loans were larger than in any other year at each group of banks* All the increase in holdings of municipal securities occurred at city banks* Holdings of U* S. Government securities declined generally*

Business loans at all commercial banks increased $300 million in February, not too different from growth in most other years of econom-ic expansion. So far in 1962, net seasonal repayments by business bor-rowers have fallen short of the December rise; in contrast, in many other recent years, there has been a decline in outstanding business loans over this period* Loans to metals companies, which had begun to increase in late January, rose further in February but not as substantially as in 1956, 1959, and I960* Loans to textile processors and to trade concerns increased seasonally in February while those to public utilities declined* Repayments by food processors were about seasonal but those by commodity dealers were smaller than usual*

Not for publication

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

• 2 »

Security loans at all commercial banks increased $700 million in February. Loams to U. S. Government security dealers increased early in the month in connection with the Treasury exchange offering on the 15th# but subsequently declined. They rose substantially again in the last week of the month presumably associated with the Treasury advance refunding operation* Loans to brokers and dealers for purchasing or carrying other securities also increased sharply late in the month when payments were made for AT&T debentures sold earlier.

Loans to noribank financial institutions declined further in early February and outstanding loans were at about the same level as in late November prior to the year-end rise. Subsequently in February, these loans increased to slightly above the late January level. Real estate loans continued to rise moderately while those to consumers showed little further change. Agricultural loans increased further in February following a larger-than-usual rise in January. These increases reflected in part CGG guaranteed loans on cotton, which had not been under loan much in the past two years, and on com, where the market price recently has been considerably below the new support price. In addition, the rate allowed on CCO loans was increased last fall and banks are finding these loans relatively attractive.

Deposit ratios* The ratio of total loans to total deposits at all ccramercial banks increased from 5U.2 per cent in January to 55.0 per cent in February, somewhat above the levels of late 1961. The ratio of U. S. Government securities maturing within one year to total deposits increased slightly to 10*9 per cent in January. (Data for February not yet available). Bank holdings of short-term securities increased only slightly in January as acquisitions of new Treasury bills at the mid-month were about offset by sales at other times.

Money supply* The daily average money supply, seasonally adjusted, declined $100 million between the second half of January and the second half of February, following a #1.2 billion reduction in the previous month. During the second half of February the money sup-ply was about 2 per cent above its year-ago level. Growth in late 1961, however, had been unusually rapid.

Time deposits at all commercial banks, seasonally adjusted, increased $l.lt billion further in February, following a sharp $2.2 bil-lion rise in January, when many banks increased rates paid on savings and other time deposits. While the rate of growth in February (It weeks) was somewhat below that of January (5 weeks) it was still larger than in any month in 1961.

Not for publication


So far in 1962, about JLj.0 per cent of the total billion growth in time deposits at weekly reporting banks in leading cities has been in savings deposits, about. hS per cent in other time deposits of individuals, partnerships, and corporations, and most of the remainder in deposits of States and political subdivisions e Growth in negotiable time certificates of deposit (included in other IPC) has been substan-tial so far this year following reductions in these certificates in late 1961o Between the end of April 1961 (when savings deposit data first became available) and the end of December 1961, almost 70 per cent of the growth in total time deposits at city banks was ins avings deposits and only 15 per cent in other time deposits of individuals, partnerships, and corporations#

Deposit turnover* The seasonally adjusted annual rate of de-mand deposit turnover at banks outside New York City and other financial centers declined slightly from 27*8 in January to 27.3 in February (re-vised series). Over the past two months, turnover has averaged about 7 per cent above the comparable period last year.

Bank reserves. Total reserves of all member banks declined substantially in February, as is usual* Required reserves dropped about flj.00 million and excess reserves about $100 million* Member bank borrow-ings from the Federal Reserve were unchanged and free reserves dropped to an average level of $1|35 million compared with $535 million in January. Most of the reduction occurred at country banks where free reserves were lower than at any other time since the summer of I960. Free reserves at New York City banks, which had been relatively substantial in January* also declined somewhat in February. The effective rate on Federal funds was generally higher in February than in other recent months. It was frequently at 2-3/k per cent early in the month, somewhat lower after mid-February, but high again in the last few days of the month.

During February on a daily average basis, reserves were absorbed principally through a $520 million reduction in Reserve Bank float, bring-ing the outstanding level close to the usual seasonal volume* Float had increased to a record level in December and remained at a higher-than-usual average in January* In addition, gold stock declined further in February. Reserves were supplied principally by continued currency inflow* Holdings of U* S* Government securities were reduced $135 million further*

Banking Section, Division of Research and Statistics,

Board of Governors of the Federal Reserve System*

March 16, 1962„

Not for publication


L.U.3 Table 1

Estimated Changes in Loans and Investments at All Commercial Banks (In billions of dollars)

Item Last Wednesday of Jan. to last i m 1961 6/ I960 w

Wednesday " W

or Feb* i w r

Total loans (less interbank) Business (excluding nonbank financial or sales finance companies) 2/

Nonbank financial Sales finance companies (Business (including nonbank finan-cial or sales finance companies))

Real estate Security Agricultural Consumer All other 2/

U. S. Government securities

Other securities

Total (less bank)

+1.2

+0.3 +0.1 3/

hZ+Oak +0.2 +0.7 +0.2

¥, -1.2

+0.1i

+0.6

!|/+1.6

+0.3 +0.1 3/

U/+o.Ii " 1/

+0.3 +0.1

5/+0.8 "" -0.1

—0.6

+0.1i

5/+1.1&

+0.7

+0.1* +0.1 3/

5 +0.1 -o.i +0.1 +0.2 -0.1

-1.8

-0.2

-1.3

+0.1

+0.1

& *${l ee>0e2

t£ul +0.1

-2.0

y -1.9

+0.1

-0.2

i f

-0.2 +0.1 +0.3 +0.2 -0.2 -0.1

+0.6

+0.3

+0.9

+0.2

+0.2

+0.2

i -0.1

—0.9

+0.1

—0.2

Item Last Wednesday of Jan. to last 3HE 3 S Z 1 H E 3BI

Wednesday of Feb, "19̂ 2 322L

Total loans (less inteitank) Business (excluding nonbank financial or sales finance companies) 2/



U. S. Government securities

Other securities

Total (less bank k) ifc

+0.3

+0.5

•0.2 *0.1 -0.1 +0.1

-1.7

+0.1

-1.2 l/ Less than $50 million, n.a.—Not available. be;

+0.1 +0.2

v,

+0.2 +0.2 -0.1

<£l +0.1

—2.2

+0.1 -1.7

y **0*1

J f i

-0.2

-0.2 y

™1*2

+0*3

v

-0.1

-0.1 +0.1 -0.1 V +5.2 -0.1

—0.9

—0.1 —0.9

%

+0.2

+0.1 7/ -0.1

T/' *5.1

I ,

=0.7

+0.1 -0.5

+0.7

n* 8io

2/ n.a.

+0.8 +0.1 -0.1

y

-0.9

y -0.2

Data are on revised basis eginning June 1959 and exclude loans to nonbank financial institutions. For previous years, loans to sales finance companies at weekly reporting banks have been shown separately to provide roughly comparable changes in business loans on revised basis. 3f Included with nonbank financial, h/ Not strictly comparable with previous data since all "nonbank financial are included rather than sales finance only. 5/ Includes $1 billion increase due to purchaseof consumer instalment receivables from Sears Roebuck. 6/ January 25-March 1, 1961. 7/ Ineluded in business and all other.

'Jot for publication Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

L.U.3

Estimated Changes in Loans and Investments at All Commercial Banks (In billions of dollars)

Item

Total loans (less interbank) Business (excluding noribankfinancial or sales finance companies) 2j



Ue S, Government securities

Other securities

Total (less bank)

1962 1961 8/ l%o W r ^ J ? 1MB • • m r

-1.5 , J -2.3 —1*9 -1.5 -2.6 -1.8

-0.7 -0,7 y

-1.3 -0.9 y

"Oeii -0o7 y

-0.8 y ,

Xoh

-1.3

•Ms -0.7

K2 5/-i.lt " +0.3 -0.5 • +0.5 -0.1 -0,3

5A2.2

•=0.6 +0.3 +0.6 -0.3

5/-1.1 ~ *0.1 —1.0 *0.1 +0.3 -0.1

-1.2 +0.lt =•0.7 1/

'+5.3 -0.2

—1.9 *0.1 -0.3 +0.3 -0.3 —0.3

-0.9

Ju6

£

b0o6 +0.3 -2.7 -0.9 *0.1 •*2*8

+0.5 +0.1t —0.1) -0.2 *0.3 y

—1.6 7/-1.5 -5*2 "2.5 -2.2 -3*b

Item End of 1956

December to last Wednesday in February 6/ u s 3 H 1 2 & 2 S E .£22-

Total loans (less interbank) Business (excluding nonbank financial or sales finance companies) 2/

Nonbank financial —

Sales finance companies (Business (including noribank finan-cial or sales finance companies))


U. S, Government securities

Other securities

Total (less bank)

-0.8

- ^ 5

-0.3 *0.2 —0.5 y 1-0.1 ™0«1

-2.11

-0+2

-0«1

-0.1 *0.It -0.6 1/ *0.1 *0.1

-2.2

+0.5

1/ Less than $50 million, n.a.—Not available, be

,9

EData are on revised basis' nancial institutions. For previous

years, loans to sales finance companies at weekly reporting banks have been shown separately to provide roughly comparable changes in business loans on revised basis. 3/ Total credit increased about #00 million as a result of bank structure changes5 1250 million in loans$ $100 million in U. S. Govt, securities; and $50 million in A+.her securities, k/ Included with nonbank financial. 5/ Not strictly comparable with previous data since all nonbank financial are included rather than sales finance only. 6/ Except for 1961, which is for December 2?5 dates are for December 31. 7/ Includes Si billion increase due to purchase of consumer instalment receivables Trom Sears Roebuck. 8/ March 1, 1961. 9/ Included in business and all other. Mot for publication "

-l*lt

=0.6 9/

•5.2

—0.8 y -0.7 *0.5 =0*3 -Ool

"Ooli

40.3

~l<>5

«0®6

-0.5 *0.2 -0.6 1/ *9.3

-1 oh

•2.1

—0.7

*0.1 9/

•$.h

-0.3 V "O.ii

¥/ -0.1

—0.2

*0.1 -1.0

*0.8

n .a. 9/ n.a.

•1.2 *0.2 -0.lt V -1.1 1/

-2.9

y


L.U.3 Table 2

Changes in $eaaas and Investments at Weekly Reporting Mentoer Banks and Homrepei"

(fe b iffloos of

Last Wednesday in January to last Wednesday in February »

1962 1961 3/ I960 1959 1958 1957

Weekly reporting banks 1/

Total loans ' U. S. Government securities

Other securities Total loans and investments

+1,0 -1.0 +0.14 + O T

+I.I4 -0.it +0.3

+0.3 -1,2

—0*1 -1.3

-T73

+^9 +0.2 +172

i u +0.1 TO

Nom*0iqi'ting banks 1/

^ Total loans U. S. Government securities Other securities Total loans and investments

+0.5 -0.2

+0.2 -0.2 +0.1 TO

+0.& —0.6 -0.2 TO

+0.2 -0.7

TO

+0.1 -0.3 +0.1 —0.3

+0.2

Item Last Wednesday in January to last Wednesday in February

1956 1955 195k 1953 1952 1951


* Total loans U. S. Government securities Other securities Total loans and investments

^Tonreporting banks

Total loans U. S. Government Other securities Total loans and investments

+0.1 -1.2

+0.2 -0*5 +0.1 TO

+0.2 —1*7 +0.1 "=T7IT

+0.2 -0.5

=575

—0.1 —0*8 +0.3 "3577

+0.1 —OeZl 2/

TO

-0.1 -0.7

^ 7 5

+0.1 -0.2 -0.1 TO

+0.1 —0.5 +0.1 TO

+0.1 -0*2 2/

TO

+0*6 -0.7

*

+0.1 -0.2 2/

1/ Beginning 1959, changes are on revised basis. Changes may not correspond exactly with published data for weekly reporting banks because loans to foreign banks have beai excluded from this tabulation.

2/ Less than $50 million.--3/ January 25-March 1, 1961.

Not for publication Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

L.li.3 - 7 » Table 2

Changes in leans and Tnveetaenta at Weekly Reporting Nsnker pamks and Nonreportjag Bzmkg r Banks and Nonreporting

( a b iliions of dollar#;

A Item Last Wednesday in December to last Wednesday in February #

1962 1961 3/ I960 1959 1958 1957


Total loans • U. S. Government securities

Other securities Total loans and investments

-1.7 -0.7 +O.I1 TO

-1.9 2/ <3.1 TO

-2.1 -2.2 -0.2 TO

-1.7 -1.2 -0.2 = 3 3

-2.1* +0.1 +0.3 TO

—2.0 =0.9

Nonr^iqiting banks 1/

# Total loans U. S. Government securities Other securities

+0.2 +0.1 +0.1 TO

-0.lt +0.3

+0.2 —0*5 -0.2

U/+0.2 E/+0.3 V 2/

-0.2 -0.3 2/

+0.2 -0.9

Total loans and investments

+0.2 +0.1 +0.1 TO

-0.lt +0.3

—Oob l|7+o«5 —0.6

+0.2 -0.9

* Item Last Wednesday in December to last Wednesday in February

* Item

1956 1955 1951| 1953 1952 1951


* Total loans U. S. Government securities Other securities Total loans and investments

-0.7 -1.9 2/

TO

-0.5 -2.2 +0*3 TO

-1.8 -0.3 +0.3 =178"

-0.9 -1.5

=0.6 -0.3 +0.1 TO

+0.6 -2.9

^Unreporting banks 1/

Total loans U. S. Government Other securities Total loans and investments

—0.1 —0.5 -0.1 TO

+0.3 2/ +0.2 TO

+0.b =0.1

+0.3 +0.1 2/

TO

-0.1 40.1 2/

TO

+0.2

4

4 Beginning 1959s changes are on revised basis. Changes may not correspond exactly with published data for weekly reporting banks because loans to foreign banks have been excluded from this tabulation. Also call report data for December 31, 1959 and December 31, I960 have been used. Less than |5>0 million. December 31, I960 — March 1, 1961. Total credit increased about #00 million as a result of bank structure changes* $250 million in loansj $100 million in U. S. Government securities and $50 million in other securities.

Not for publication Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

L.U.3

« 8 •>

Table 3

Changes in Commercial and Industrial Loans 1/ (In millions of dollars) —

Last Wednesday in January to last Wednesday in February 1962 1961 1960 1959 1958 1957 1956 1955

Food processors Commodity dealers Trade concerns

Total

- 98 - 13 +• 66 T T 3

- 23 + 3k + 66 . + n

- 68 -158 +108

- 70 -10k + 31*

—126 -125 - 50 •=m

- 90 - 7k + 29 =135

-100 + It + 71

-101 - 70 + 1*3

Sales finance V y y - 95 - w* + 30 -255 + 69

Metals and products Textiles, apparel and leather

Petroleum, coal etc. Other manufacturing and mining

Public utilities Construction All other types of business

+129

+122 - h

+ 15 -109 + k

+ 1*8

+ 86

+112 - 21

+ 6b -155 - 18

+ 69

+277

+121 - 29

+ 57 —• 58 + 8

+ 15

+183

+ 82* + 1*

+ 20 -128 • 9

- 9

+111

+ 76 + 1*

+ 1*5 - 89 + 1

+ 1*3

+138

+ 81 -

+ k2 — 5o -*» 8

- 33

+217

+ 31 + 1*8

+ 58

- 23

+ 13

+ 38

+ 92 +106

+ 10 - 9 + 2

+ 39

Classified Unclassified

+161 + 51

+216 + 21

+277 + 85

- 72 + 72

-151* - hO

+ 23 + 32

+ 6k + 12

+217 3/+ 98

Total change +212 +236 +362 "19k + 55 + 76 3/+315

Total change excluding sales finance +212 +236 +362 + 95 -150 + 25 +331 3/+2li6

2 7

1/ Prior to week ending January 11, 1956, includes changes in agricultural loans. !/ Data are for comparable four week periods throughout and therefore may not correspond

with data in Table 1. 3/ Includes CCC certificates of interest which are estimated to have declined $30

million. h/ Not included in business loans on revised basis.

Not for publication


L.ke3

- 9 -

Table 3

Changes in Commercial and Industrial Loans 1/ ' (In millions of dollars) "~

business 01 Borrower tissual 1962

weuaesuc 1961 1960

fgfflpsr a 1959 1958

pflUfifiaay 1957

xn JJebr

1956 iarv £/

1955

Food processors Commodity dealers Trade concerns

Total

-279, - 28' -153 -ii60

-238 + 25 -237 .

-231 -27k + k0

-2k9 -152 - 27

-371 -168 -237 %775

-3kk —Ik2 -205

-233 - 30 - 11 =27%

—2k6 -157 - 8k •=1187

Sales finance 3/ 3/ 3/ -301 -726 —156 -k78 +103

Metals and products Textiles, apparel and leather

Petroleum, coal etc. Other manufacturing and mining

Public utilities Construction All other types of business

- 32

+lkk -102

•161 -37k - 19

t 12

- k9

+10k + U9

- 6 -223 - k3

+100

+kl9

+173 - 51

+ ko - 91 - 21

- 31

+207

+ 90 - 87

+ lk -232 - 13

•106

+ 71

+112 - 26

+ 23 -210 - 3k

- 82

+118

+ 61 - 27

+ 21 + 50 — k6

-lkl

+316

+ 51 + 93

+ 69 + 78 - 33

- 80

+ k9

+139 +112

- 2 - 10 + 2

- 31

Classified Unclassified

-669 - hi

-517 -111

- 27 -12k

—856 -217

-l,6k7 -355

-810 -167

-255 - 95

-126 k/- 56

Total change -716 -628 -151 -1,073 -2,002 -977 -350 k/-l82

Total change excluding sales finance -716 —628 -151 -772 -1,276 -821 +128 k/-285

1/ Prior to week ending January 11, 1956, includes changes in agricultural loans. "2/ First nine weeks of the year to correspond with 1962 period. Therefore, these data

may not be comparable with those shown on Table 1, 3/ Not included in business loans on revised basis. 5/ deludes CCC certificates of interest which are estimated to have declined #115

million.

Not for publication

# Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

L. it* 3 • 10 "»

Table it

Estimated Changes In Deposits and Currency (In billions of dollarsj

Item 1962 I 1961 | 1960

Last half of January to"

19# 1958 1957

Seasonally adjusted data 1/ Demand deposit component Currency component

Total

Seasonally adjusted data 2/ Demand deposits adjusted Currency outside banks

Total

Seasonally unadjusted data 2/ bemand deposits adjusted " Currency outside banks

Total Time deposits Commercial banks Mutual savings banks Ue S, Government deposits

Total

Factors affecting deposits and currency Bank loans and Investments other than U. S, Govt. sec. k/ Commercial ~~ Mutual savings Bank holdings of U. S. Govt, securities; Federal Reserve Commercial Mutual saving and other

Gold stock and foreign deposits at F. R. Banks Other factors

-0.3 +0.1

+0.1 -0.1 7 5 3

ast half of February

-0.3 3L

+0.3 3/

+0.7 & 40,2

Last ¥e<mesday of Jan. to . ast Wednesday*or reo. >/

+0.5 +0.1 7 5 3

—2.2 +0.2

+1.8 THE +0.2 +0.3

(signs

-l.it +0.1 ^ 3

-it.l +0.2

+1.-7 6/713 " +0.1 +2.1* 753 .

indicate

-0.9 3/

-3.5 4Q.1

+0.2 +57?

&

effect on

+1.9 +1.9 +0.1* wx

+0.3 +0.1 +0.1

-l.it —0*6 -2.1 =072 =571 = 5 3 -1.2 —0.6 —1.8 2/ +0.1 1/

3/ 3/ 3/ -5.it -T.o -5.7

+0.1

-2.5 +0.1

+0.3

+0.2 -0.3 =531 deposits

K).l 757T +0.2

-2.1

-2.0 +0,1

+0.5

—2.0 +0.1 = 0 +1.1 7175 +0.2 +1.3

-0.1

+0.7 T O " +0.1 +0.6 = 1 3

and currency)

+0.6 +5Ht +0.2

+0.6

3 ^ 6 1/

-0.1 -0.7

+0.9 7 3 3 +0.2

-l.it

-0.9 3/

+0,1 -o.it

Throughout; unadjusted data are for last Wednesday except in case of June and December call dates, when available. 3/ Less than $50 million, h/ Total includes foreign loans on gold, holdings of bankers' acceptances at the Federal Reserve, and loans to foreign banksj changes in these items are generally relatively small. Even if there were no changes in other items, changes at commercial banks exclude all interbank loans, domestic and foreign, while total loans exclude only those to domestic banks. In addition there is some lack of synchronization in reporting asset and liability items used in computing "loans net." 5/ March 1, 1961. 6/ Includes $700 million increase in time certificates of deposit "Issued to Sears RoeEuck in exchange for consumer instalment receivables* Not for publication


L. ii. 3 11 «

Table k

Estimated Changes in Deposits and Currency (In billions of dollars)

Item 196: 1961 1960 1959 5/ 1958 1957

Seasonally adjusted data 1/ Demand deposit component Currency component

Total

Seasonally adjusted data 2/ Demand deposits adjusted Currency outside banks

Total

Seasonally unadjusted data _2/ Demand deposits adjusted "™ Currency outside banks

Total Time deposits Commercial banks Mutual savings banks U« S. Government deposits

Total

Factors affecting deposits and currency Bank loans and investments other than U. S. Govt. sec. k/ Commercial Mutual savings Bank holdings of U, S. Govt, securitiest Federal Reserve Commercial Mutual saving and other

Gold stock and foreign deposits at F. R. Banks Other factors

Last half of December to last hair of February

—loll +0,1 = 1 3

+0,6 -0,1

—0.6 +0.1

+0.6 +0.1

+0oll 3/ +0.1

+0.1

Last vtedn esday of December to last w ednesday of Feb. e

"loii +0.1*

•=5*5 -o, 5

+1.3

+0.3 -1.1 ~r~7\ M

=0.1 K3.3

4.5 -1.2

+2.2 7 / 5 0 ~ +0o3 -0.2

=4-.£ *0.1

-li.9 -l.l ° 0 o 6

= 7 3

+0.9 -0.1 + o

=ii.2 =1.0

+0.1t

=cn (signs indicate effect on deposits and currency)

-0.3 -1.9 -2,6

+0oli *0o2 +0.3

—3Lo2 -0.2 aho 3 —0.7 W7t = 1 3 -1.5 +0.3 -2.7 +0o2 •*0,2 -0.1

=0.1 =0oli +0.1 =1.1 -1.1 -0.7

=2.0

•0,1

-1.8

-0.9 +0.1

—0.1 -0.9

+0.1 3/ -=0.1 +5.2 "37" i O

-1.7 -llell -0.9 -0.9 =53 = 5 3 +1.8 +i.i*

+nz +0Oll +0.2 -0.5 —loll

=53"

-1.9

*0.6

-0.9

+0.1 -0.1

-r(k

-1.8 = H 7 •o.U

=3.8

-1.8 3/

+0.ii -0.1

Throughoutj unadjusted data are for last Wednesday except in case of June and December call dates, when available. 3/ Less than $50 million. V Total includes foreign loans on gold, holdings of bankers' acceptances at the Federal Reserve, and loans to foreign banksj changes in these items are generally relatively small. Even if there were no changes in other items, changes at commercial banks exclude all interbank loans, domestic and foreign, while total loans exclude only those to domestic banks. In addition there is some lack of synchronization in reporting asset and liability items used in computing "loans net." W As a result of structure changes in January 1959® demand deposits adjusted increased $100 million; time deposits at commercial banks increased fhOO millionj and deposits at mutual savings banks declined $300 million. 6/ March 1, 1961. December 31 except for December 27$ 1961. 7/ Includes $700 million increase in time certificates of deposit issued to Sears "Roebuck in exchange for consumer instalment receivables. Digitized for FRASER

http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

•• 12 —

Table 5

Negotiable Time Certificates of Deposit as Reported by Selected Large Banks in

New York and Chicago 1/ (In millions of dollars)

Date 2/ New York Date 2/ New York Chicago

1961s April 19

26

May

June

July

Aug,

Sept.

3 10 17 21* 31

7 ll* 21 28

5 12 19 26

2 9 16 23 30

6 13 20 27

loo 1*63

565 593 599 613 632

61*1* 660 709 792

872 890 979 999

1,00b 1,009 1,027 1,036 1,052

1,061 1,097 1,079 1,073

1961 Oct,

Nov*

Dec,

s 1962 s

I Jan®

Feb,

1* 11 18 25

1 8 15 22 29

6 13 20 27

3 10 17 2l*

31

7 lit 21 28

1,139 1,150 1,11*6 1,160

1,11*9 1.151 1.152 1,163 1,166

1,11*2 1,091* 1,01*3 1,001*

960 952 978

1,017 1,052

1,102 1,113 1,11*1 1,197

256 255 268 267

21*8 2ii8 259 261* 262

267 258 250 251*

21*1* 21*3 252 267 270

289 296 307 317

1/ Reported by 9 banks in New York and 5 banks in Chicagoj prior to September 8, 1961, 10 banks in New York reported but on that date 2 reporting banks merged*

2/ Data first reported as of April 19, 1961, for banks in New York and October 1*, 1961, for banks in Chicago,

Not for publication


L.U.3

- 13 -

Table 6

Ratios to Total Deposits

e

Date

L O A N S U.8. Govt, secur-ities maturing

within one year

e

Date All com-mercial banks

Member banks All commercial banks

e

Date All com-mercial banks Total Central reserve city • Reserve

city Country

All commercial banks

e

Date All com-mercial banks Total

New York Chicago • Reserve city Country

All commercial banks

*L9li6s Dec* 31 23.3 23.7 27.7 27.3 26.0 18.9 2/ 14.3 TL9l*7s Dec. 31 27.7 28.2 31.0 30.3 31.1 23.1* 2/ ll*.0 1918: Dec. 31 31.2 31.3 35.9 30.b 33.1* 27.1 V 11*.2 19l*9s Dec. 31 31.1 30.9 3l*.9 25.6 32.1* 28.5 V 19.2 1950s Dec* 31 35*8 36.1 1*2.5 32.3 38.1 31.5 1/ 15.2 1951s Dec. 31 37*2 37.6 1*6.3 36.2 39.1* 32.1

1/ 9.8

*1952; Dec* 31 39.3 39.9 50.6 38*9 1*1.1 33.9 11.7 1953s Dec. 31 1*0.5 1*1.1 50.6 39.1 1*2.2 36.1 16.9 1951s Dec* 31 1*0.3 1*0.7 1*6.8 38.3 1*1.9 37.1 10.0 1955s Dec. 31 1*5.8 1*6.7 56.7 1*6.3 1*8.5 1*0.7 5.1 1956s Dec* 31 1*8.8 5b.i 61.7 52.7 52.7 1*2.6 7.5 1957 s Dec. 31 19.7 51.0 61.9 55.2 53.3 l*i*.l 8.I4

@19582 Dec. 31 1*8 .It 1*9.1* 57.7 1*9.1* 51.3 l*l*.l* 8.3 1959s Dec. 31 5l*.o 55.6 6^.3 58.2 58.2 1*8.2 6.7 1960s Dec. 31 55.1 56.5 65.9 60.8 59.0 50.3 8.1

1961s Jan. 25 51.5 55.8 62.7 58.8 58.8 50.1 8.5 Mar. 1 55.5 56.8 65.8 62.0 3/59.7 50.5 8.9

# Mar. 29 55.8 57.2 65.0 61*.7 H/60.2 l*/5i.o 8.1 Apr. 26 55.6 56.9 65.3 62.1 ~ 59.5 ~ 5i.o 9.3 May 31 55.8 56.9 65.1* 58.3 59.3 51.6 9.8 June 30 55.7 56.6 61.0 57.1 58.9 51.8 10.8

July 26 51*. 8 55.7 62.0 51*. 8 58.0 51.3 12.2 • Aug. 31 55.1 56.1 62*8 57.1 58.6 51.3 11.1*

Sept027 51*. 7 55.7 63.6 56.6 57.9 50.7 11.8 Oct. 25P 5 W 55.3 62.9 57.9 57.7 50.2 11.1* Nov. 29p 51*. 7 55.7 63.5 57.7 58.3 50.5 10.1* Dec. 27P 51**6 55.6 65.0 58.1 57.9 5o.3 10.7

*1962 S: Jan. 31p 51*.2 55.3 63.0 56.8 57.7 50.1 10.9 *1962 S: Feb* 28p 55.0 56.0 61*. 7 58.8 58,0 50.8 n» Be

within one year -estimated on basis of Treasury survey of ownership and total deposits * (adjusted to exclude cash items in process of collection), 2/ Prior to 1951» data are on call basis and beginning in 195)1, they are on maturity

basis# On a call basis* data for 1951 and 1952 are 21.5 and 19*1 respectively* 3/ Includes merger with nonmember. ]*/ Reserve city banks reclassified as country banks# p - Preliminary. n„a» - Not available*

%Iot for publication Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

L.lt.3

*• lib. •

Table 7

Free Reserves and Total Reserves Held

(Based on averages of daily figures; in millions of dollars)

Date

Free reserves (excess reserves minus borrowings)

All member

Central reserve city Reserve city

All member New York 1 Chicago

Reserve city

— 1(1 - 80 - 32 -197 -1*21* -109 -10k -1*1*9 669 10 - 1* 80

695 26 89 517 26 - 29 10 1*76 9 1 35 562 60 - 1* 39 1*53 - 22 5 18 51*9 1*0 5 66

530 7 56 537 7 1 1*1* 553 2 2 50 1*1*1 12 - 2k 8 509 11* - 13 13 1*21* - 50 - 22 21*

536 1*1 2 17 1*31* 11 - 3 22

1*70 36 - 3 21

381* 2 w 1 26 1*28 6 - 16 13 1*61 1* 9 19 1*70 36 - 1* 28

Country

Total reserves held seasonally

adjusted 1/ TIT member

Monthly averages: 1950s Dec# 1959: Dec. I960: Dec.

1961: Jan. Feb.. Mar. Apr. May June

July Aug. Sept. Oct* Nov. Dec.

1962: Jan. Feb. p

Weekly averages? T9SI5 Jan. 31

Feb. 7 Hi 21 28

268 237 583

583 510 1*31 167 151 138

1*67 m 1*99 1*1*6 1*91* 1*71

1*76 l*0it

1*17

358 1*25 1*29 1*07

18,1*91* 18,51*0 18,887

19,01*8 19,175 19,018 18,979 18,989 19,099

19,025 19,21*2 19,1*11 19,610 19,792 19,701*

19,812 19,789

n.a.

H • 8,e n.a#

n.a.

NOTBs Data for February are preliminary. 1/ Series revised; revised data first published in "Banking and Monetary Developments" for August, 1961. Revised sea-sonal factors and back data may be obtained from Banking Section, p - Preliminary.

Not for publication


L»U.3 - 15 -

Table 8

Changes in Member Bank Reserves, with Relevant Factors (Monthly average of daily figures; in millions of dollars)

Item February January-February Year ending Feb*

• Item 1962 1961 1962 1961 1962 • 1961

Member bank reserves

Required reserves 1/ -liOli -260 -176 -217 +759 +552

e Effect of change in requirements

Effect of deposit change -ItOlt -260 -lt76 -217 +759 + 5 +51t7

Excess reserves 1/ -lilt - 90 - 71 -102 -152 +199 #

Total reserves held 1/ -518 -351 -517 -319 +607 +751

Cash allowed as reserves 1/ Reserve balances *™

-239 -279

-168 -183

-20lt -3lt3

-163 -156

+223 +381t

+2,166 -1,115

e Total reserves held, seasonally adjusted - 23 +127 + 85 +288 +6llt +7 h9

Principal factors (signs ii idicate effect on reserves)

• Currency in circulation Gold stock and foreign accounts

Treasury operations Federal Reserve float Other factors

+Wt3

- 36 - 19 -517 - 38

+it2lt

-115 - ltd -310 -106

+1,106

-117 + 60 -631

1 - 13

+1,178

-491 - 5 -5Wt + 78

-1,006

-630 , +250 +169 + 77

-260

-2,002 + 97 + 89 -185

# Effect of above factors on reserves

Federal Reserve loans and investments:

-167 -155 +lt05 +216 -l,llt0 -2,261

# Total -112 - 30 -7lt8 -371 +1,521 +81t6

e

U. 8. Govt, securities Outright Repurchase agreements

Acceptances Discounts and advances: To member banks To others

-135 ZIGO - 3k - 2

- 2 + 27

+119 - 5

+ 88

-711t

- 30

- 81 + lt7

-itl9

. +121 - it

+ 50 + 2

+1,717 , -192 - 3

- 69 + Itl

+1,507 +1,311 +166 + 11

-679 + 7

1/ Preliminary for February 1962#

# Not for publication Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

• # • # # • e e e # - 1 6 - .

L.lt.3 Table 9

liquid Assets Held by the Public — Seasonally Adjusted Series (Amounts in billions of dollars; ratios expressed as percentages) ^

End of year or month

Total liquid assets (2+3+8)

Demand deposits adjusted and

currency outside banks 1/

Total personal-type

.savings (ij+5+6+7)

Personal-type savings U, S. Govt securities maturing

within one year j>/

Commercial bank demand and time de-posits adj. and currency

(2 + It)

Ratio: Comnercial

bank deposits + currency to total liquid

assets (9 + 1)

Ratio: Total liquid

assets to gross

national product 6>





Total personal-type

.savings (ij+5+6+7)

T ime de adjusl

aposits ted 1/

Savings and loan shares 3/

u. s. Govt, savings bonds

V

U, S. Govt securities maturing

within one year j>/


(2 + It)

Ratio: Comnercial


assets (9 + 1)

Ratio: Total liquid

assets to gross

national product 6>





Total personal-type

.savings (ij+5+6+7)

Commer-cial

banks

Mutual savings banks 2/

Savings and loan shares 3/

u. s. Govt, savings bonds

V

U, S. Govt securities maturing

within one year j>/


(2 + It)

Ratio: Comnercial


assets (9 + 1)

Ratio: Total liquid

assets to gross

national product 6>

l 2 3 k 5 6 7 8 9 10 11

1950 271.8 114.6 129.0 36.3 23.0 14.0 55.7 28.2 150.9 55-5 89.1 1951 284.0 120.2 132.7 37.8 23.6 16.1 55.2 31.1 158.0 55.6 83.3 1952 296.2 124.1 140.6 40.6 25.2 19.2 55.6 31.5 164.7 55.6 82.2 1955 308.3 126.6 148.6 43.6 26.7 22.8 55.5 33.1 170.2 . 55.2 85.1 1954 318.0 130.0 158.1 46.8 28.5 27.2 55.6 29.9 176.8 55.6 85.3 1955 330.3 133.5 166.4 48.5 30.0 32.0 55.9 30.4 182.0 55.1 80.7 1956 339.9 134.5 174.1 50.7 31.6 37.0 54.8 31.3 185.2 54.5 78.8 1957 351.7 133.6 182.8 56.4 33.0 41.7 51.7 35.3 190.0 54.0 79.3 1958 368.9 138.8 196.7 63.4 35.1 47.7 50.5 33.4 202.2 54.8 79.4 1959 388.7 140.2 204.4 66.2 35.9 54.3 48.0 44.1 206.4 53.1 79.5

I960 Nov. 393.7 138.8 216.0 71.1 36.9 61.1 46.9 38.9 209.9 53.3 Dec. 396.0 139.2 217.7 71.7 37.1 61.8 47.1 39.1 210.9 53.3 78.1

1961 Jan. 398.1 140.7 219.3 72.2 37.3 62.6 47.2 38.1 212.9 53.5 Feb. 400.8 139.4 221.4 73.7 37.3 63.2 47.2 40.0 213.1 53.2 Mar. 403.9 140.4 222.7 74.1 37.5 63.9 47.2 40.8 214.5 53.1 79.8 Apr. 406.8 141.5 224.0 74.8 37.6 64.5 47.1 41.3 216.3 53.2 May 408.1 2/140.8 227.5 1/77.4 37.7 65.2 47.2 39.8 218.2 53.5 June 413.2 140.9 229.6 78.4 38.1 65.9 47.2 42.7 219.3 53.1 79.1 July 414.4 141.5 231.1 79.0 38.3 66.5 47.3 41.8 220.5 53.2 Aug. 414.4 141.3 232.7 79.8 38.3 67.3 47.3 40.4 221.1 53.4 Sept. 417.2 141.9 234.6 80.6 38.6 68.0 47.4 40.7 222.5 53.3 78.9 Oct. 420.9 14-3.8 236.3 81.4 38.7 68.9 47.3 40.8 225.2 53.5

78.9

Nov. 420.6 145.4 238.4 82.5 38.9 69.7 47.3 38.8 225.9 53.7 Dec. 424.8 144.8 239.8 82.6 39.1 70.5 47.6 40.2 227.4 53.5 77.6

1962 53.5 77.6

Jan. 425.2 143.2 242.7 84.8 39.1 71.2 47.6 39.3 228.0 53,6 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

p Preliminary. l/ Data for demand and time deposits adjusted and currency outside banks are as of last

Wednesday of month, except that time deposits are as of June 30 and December )1 when call data for these dates were available. Demand deposits adjusted are total demand deposits less interbank and U, S. Government demand deposits and cash items reported as in process of collection. Time deposits adjusted are total time deposits less in-terbank and U. S. Government time deposits.

2/ Includes savings deposits in the Postal Savings System. 3/ Prior to 1955 data are Board estimates based on monthly figures of inflow of new sav-

ings and withdrawals of savings capital compiled by the Federal Home Loan Bank Board. 4/ Includes all types of savings bonds held by investors other than banks and U. S.

Government agencies and trust funds. 5/ Beginning May 1955 includes all marketable securities maturing within one year (ad-

justed to include partially tax exempt securities 12 months prior to first call date) and, prior to 1956, nonmarketable Treasury savings notes with maturities up to 24 months; figures include holdings of insurance companies, brokers and dealers, State and local governments, nonbank corporations, corporate pension funds, non-profit in-stitutions, foreign accounts, and individuals; prior to May 1955 includes securities callable within one year.

6/ Gross national product estimates are available quarterly and annually only. For 1950-58 ratios are for last quarter of year; for 1959 and I960, for each quarter of year. Data for total liquid assets used in computing these ratios are quarterly average for four dates: each month of the current quarter and the last month of the preceding quarter.

2/ Demand deposits adjusted (before seasonal adjustment) was increased by $400 million and time deposits adjusted (before seasonal adjustment) was increased by $1.5 billion due to the reclassification of deposits of foreign official institutions which formerly were grouped with interbank deposits and excluded from demand and time deposits ad-justed.

Not for -publication


- 17 -Table 10

Demand Deposits, Currency, and Related Items (Averages of daily figures. In billions of dollars)

Period

1954—Dec. 1955—Dec. 1956—Dec. 1957—-Dec. 1958—Dec. 1959—Dec. 1960—Dec.

1961—Jan.

Feb.

Mar.

Apr.

May

June

July

Aug.

Sept.

Oct.

Nov.

Dec.

1962——Jan.

Feb.

Money Supply Seasonally adjusted

Total

132.0 134.7 136.6 135.5 140.9 141.5 140.5

140.2 141.0 141.3 141.1 141.1 142.0 141.8 142.2 142.0 141.9 142.4 141.9

142.1 141.9 141.9 141.8 142.7 143.3 143.1 144.2 144.5 143.7 144.4 145.5

144.9 144-3 IB. 7 IB. 2

Cur-rency

27.4 27.8 28.3 28.3 28.6 28.9 29.0 28.9 29.0 28.9 28.9 29.0 29.0 29.0 29.0 29.0 28.9 28.9 29.0 29.0 29.0 29.0 29.0 29.2 29.2 29.4 29.3 29.4 29.5 29.4 29.6 29.6 29.6 29.6 29.7

Demand deposits

104« 6 106.9 108.3 107.2 112.3 112.6 111.5

111.3 112.0 112.4 112.1 112.1 113.0 112.8 113.2 113.0 113.0 113.5 112.9

113.1 112.9 112.8 112.8 113.6 114.1 113.8 114.9 115.1 114.2 114.9 115.9

115.3 114.8 115.1 lllt.5

Related deposits—all commercial banks Without seasonal adjustment Gross time

48.7 50.1 52.0 57.3 65.3 67.2 72.8

73.5 73.9 74.9 75.2 75.7 76.1 76.7 77.1 77.8 78.3 78.8 79.2

79.7 80.1 80.5 80.8 81.2 81.5 81.9 82.1 82.2 81.9 82.1 82.4

83.4 84.5 85.5 86.2

U. S. Govt, demand

4.6 3.5 3.5 3.7 4.0 5.2 5.2

4.7 3.5 4.0 5.7 4.6 4.9 3.4 2.3 3.9 5.3 3.3 5.8

4.8 3.9 5.1 5.8 4.5 5.9 6.9 6.1 5.3 6.3 4.3 5.5

4.4 3.4 4.3 5.2

NOTE: Demand deposits are those other than domestic commercial interbank and U. S. Government, less cash items reported as in process of collection and Federal Reserve float. Currency is that outside the Treasury, the Federal Reserve, and the vaults of all commercial banks.

Not for publication


L.U.3

• # » 18 •»

Table 11 Deposits and Currency (In billions of dollars)

i

- (1) (2) (3) (U) (5) (6) (7) (8) (9) (10) (11) (12)

Year or

month

Seasonally adjusted money supply 1/

Seasonally adjusted money

supply and time dep. at comm.

banks(l+7)

Demand deposits adjusted

Time deposits u. s. Govt, deposits If

Cur-rency outside banks

Total deposits and

currency (5+6+10 +11)

Year or

month Total (2+3)



Seasonally adjusted money

supply and time dep. at comm.

banks(l+7)


Total (7+8+9)

Commer-cial

Mutual savings

Postal savings

u. s. Govt, deposits If


Total deposits and

currency (5+6+10 +11)

End of Dec. 195' 130.C 103.1 26.9 176.8 106.6 75.3 46.8 26.3 2.1 5.1 27.9 214.8 1955 133.5 106.1 27.4 181.9 109.9 78.4 48.4 28.1 1.9 4.4 28.3 221.0 1956 134.5 107.1 27.4 185.1 111.4 82.2 50.6 30.0 1.6 4.5 28.3 226.4 1957 133.6 105.8 27.8 189.7 110.3 89.1 56.1 31.7 1.3 4.7 28.3 232.3 1958 138.6 110.7 28.1 202.0 115.5 98.3 63.2 34.0 1.1 4.9 28.7 247.5 1959 1/ 140.2 112.0 28.2 206.1 115.4 101.8 65.9 34.9 0.9 5.8 29.4 252.4 I960 139.2 111.0 28.2 210.6 115.1 108.5 71.4 36.3 0.8 6.7 29.4 259.6 1961s Jan. 25 140.1 112.3 28.4 212.4 114.7 109.0 71.7 36.5 0.8 4.1 28.0 255.7 Mar. 1 139.4 110.9 28.5 212.7 110.6 110.7 73.3 36.6 0.7 6.5 28.2 256.0 Mar. 29 140.4 112.1 28.3 214.6 110.3 111.9 74.2 37.0 0.7 4.9 28.0 255.1 Apr. 26 141.5 113.3 28.2 216.5 113.6 112.7 75.0 36.9 0.7 2.8 27.9 257.0 May 31 4/140.6 4/112.3 28.5 4/218.7 4/ 110.6 4/115.7 4/77.9 37.0 0.7 5.5 28.4 4/260.1 June 30 140.5 112.7 28.2 220.0 110.5 117.1 79.1 37.3 0.7 7.0 29.4 264.0 July 26p 141.5 113.2 28.3 221.0 113.0 117.7 79.5 37.5 0.7 6.4 28.4 265.5 Aug. 30p 141.2 113.0 28.3 221.5 111.5 118.6 80.2 37.6 0.7 6.2 28.5 264.8 Sept. 27l 141.S 113.4 28.5 222.7 112.4 119.4 80.8 37.9 0.7 8.9 28.6 269.3 Oct. 25p 143.6 115.0 28.8 225.2 115.7 120.0 81.4 37.9 0.7 6,3 28.7 270.7 Nov. 29p 143.4 114.8 28.6 224.6 116.2 119.9 81.2 38.0 0.7 6.P 29.1 271.3 Dec. 27p 144.6 116.1 28.7 226.5 119.9 120.8 81.7 38.4 0.7 7.0 29.3 276.9 1962:

2711.1 Jan. 31p 11*3.2 llll.2 29.0 227.lt 116.6 123.3 8U.2 38.5 0.6 5.6 28.6 2711.1 Feb. 28p lU3.£ lltw7 29.1 229.6 llU.lt 125.1 85.8 33.7 0.6 5.9 28.8 274.2

p Preliminary, l/ Seasonal y adjusted series jegins in 1946 and is available only for last Wednesday of the month. 2/ At commercial, savings and Federal Reserve Banks. Ji/ Demand deposits were reduced about $400 million as a re-sult of a technical change under Regulation D amending the definition of such deposits. On balance in 1959» as a result of structure changes, demand deposits adjusted increased $400 million, time deposits at commercial banks increased $700 million, and time deposits at mutual savings banks declined $300 million. 4/ Demand deposits ad-justed increased $400 million and time deposits at commercial banks increased $1.5 billion due to the reclassifi-cation of deposits of foreign central banks.


- 1 * . L.U.3 Table 12

Loans and Investments at All Commercial Banks (in billions of dollars)

Date

Loans and

invest-ments

n. s. Govt, secur-ities

Other secur-ities

Total loans

Busi-ness

Seal estate

Secur-ity

1 Farm Con-sumer

Nonbank financial institu-tions

All other

195U* Dec* 31 115*7 69*0 16*3 70.it 26.9 l8*lt it.5 . 5.2 10.9 5.6 6.5 19#: Dec* 31 160*3 61*6 16*7 82.0 33*2 20.8 5.0 lt.5 13.2 — 5.6 6.5

1956: Bee* 31 16U.5 58*6 16.3 89.7 38*7 22*5 lt.3 it.2 lit.6 — 6,9 1957s Dec* 31 169*3 58*2 17*9 93*2 it0.5 23*1 U.2 i.l 15.8 — 7.2 1958$ Dec* 31, 18U.U 66*1 20.6 97.5 ltO.lt 25*3 it.7 5.0 15.9 8.2 1959: June 2lt(old) 18U.2 60*9 20.6 102.8 lt2*5 26.9 lt.l 5.0 17.5 — 8.8

June 2U(new) 181**2 60*9 20.6 102.8 37*8 26*9 it*l 5.0 17.5 5.9 7.6 Dec* 311/ 189*5 58.9 20.5 110.0 lt0.2 28.1 lt.9 5.0 18.8 7.1 8.1

1960s Dec* 31 198*5 61*0 20.9 116.7 lt3.1 28.7 5.1 5.7 20.6 7.1 8.7

1961s Jan* 25 195.6 61.9 20.9 112.8 itl.5 28.7 it.2 5.9 20.it 6*1 8.5 Mar* 1 197.0 61.3 21*3 llit.lt ltl*8 28.7 lt.5 6*0 21.2 6*2 8*lt Mar* 29 195.6 59.7 21.7 lllt.2 42.8 28.8 It.o 6.0 21.1 5.9 8*1 Apr. 26 197.2 60.7 21,8 llit.7 it2.it 28.8 it.7 6.1 21.0 5.8 8*b May 31 2/199.2 61*5 21.9 115.8 it2*3 29.0 it.8 6.0 21.1 6*0 |8*9 June 30 200*9 61.8 22*1 117.0 lt2.8 29*3 lt.9 6.0 21*2 6.0 9.2

July 26 203.3 61W7 22.3 116*3 lt2.3 29.5 5.1 6.0 21*2 5.7 9.0 Aug* 30 203.0 6U*2 22.5 116*3 it2*5 29.7 it*6 5.8 21*2 5.9 9*1 Sept* 27 207.5 ' i 66.1 23*3 118.1 lt3*0 29.8 5.1 5.8 21*0 6.1t 9.It Oct* 25p 208.3 66.6 23*2 118.5 it3*l 30*1 5.3 5.9 21*0 6.1 9.5 Nov* 29p 209*1 66.2 23.lt 119*5 it3*5 30.3 5.2 6*0 21,0 6*3 9.7 Dec* 27p 213.1 66.5 23.9 122.7 Wt.it 30.5 6.1 6.1 21*1 7.2 9.8

1962 s Jan* 31p 210*9 67.1 2b.0 119*7 it3.lt 30.6 lt.9 6.1t 21*0 6*lt 9.5 Feb* 28p 211*5 65*9 2U.il 121*2 it 3.7 30.8 5.6 6.6 21*0 6*5 9.5

^ „ „ Structure w

total creditj $600 million in loansj $300 million in U0 S« Government securities $ and $100 million in other securities* Real estate loans increased about $300 million $ business loans $100 million; consumer loans$ $100 million; and other loans $100 million, 2/ Increase of $200 million due to reclassification, of foreign interbank loans into other loans. Total loans are also affected by this same amount* NOTE: Data exclude interbank loans* Total loans are after and types of loans before deductions for valuation reserves* Consumer and "other loans* are partly estimated for all dates* Other data are partly estimated on all but June and December call dates* Beginning June 2k» 1959# "business loans" and "all other loans" have been revised to exclude loans to nonbank financial institutions* Digitized for FRASER

http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

mar 21 1962 - fraserrefunding operation* loans to brokers and dealers for purchasing or carrying...

Documents