BANKING & MONETARY STATISTICS - FRASER · 2018. 11. 6. · System: Banking and Monetary Statistics...

Supplement to

BANKING &MONETARYSTATISTICS

SECTION 1

Banks and the Monetary System

BOARD OF GOVERNORS OF THE

FEDERAL RESERVE SYSTEM

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

Preface

In 1943 the Board of Governors publishedBanking and Monetary Statistics to make avail-able in one place and on a uniform basis majorseries relating to banking, monetary, and otherfinancial developments. The statistics usuallycovered the period from 1914, when the Fed-eral Reserve System was established, throughDecember 1941.

To bring together for the period since 1941the most important series in that volume, torevise the data previously published, and topresent new series, the Board is publishing aseries of pamphlets. Most of these pamphletscorrespond to sections in Banking and Mone-tary Statistics, but some may cover new sub-jects. Most of the data included in thesepamphlets have already been published in the

Federal Reserve Bulletin, and current figuresfor most of the series are published in it eachmonth. In some instances, however, the typeof presentation may vary considerably fromthat in the Bulletin.

This is one of the new pamphlets. As inBanking and Monetary Statistics, there is abrief description of the purpose and history ofthe data, the sources of the figures and themethods by which they were compiled, andother facts to guide the reader in using thefigures. Much of the information that is cus-tomarily included in footnotes to tables hasbeen incorporated in the text. Footnotes havebeen used for the most part to call the reader'sattention to any lack of comparability of itemsover the period covered.

Washington, D. C.

October 1962

Board of Governorsof the Federal Reserve System

Price per copy, 35 cents.


Contents

Page

INTRODUCTION 1

CONSOLIDATED CONDITION STATEMENT 2

The Component Statements 2The Consolidation Process 3Composition of Items 4Sources of Discrepancies 4

MEASURES OF THE MONEY SUPPLY 5

Types of Deposit Holders 6Timing of Data 7Eliminating Duplication 7Seasonal Adjustments 7Comparative Levels 8

NUMBER AND CLASSIFICATION OF BANKS 8

Classification 9Coverage and Changes in Coverage or Classification 10

TABULAR COMPARISION OF MONEY SUPPLY SERIES 12

TABLES:

1. Consolidated Condition Statement for Banks and the Monetary System,Varying Dates, 1941-60 14

2. Money Supply and Related Data, Varying Periods, 1947-60 203. Principal Assets, Liabilities, and Number of Banks:

A. Commercial and Mutual Savings Banks, Varying Dates, 1941-60 23B. Commercial Banks, Varying Dates, 1941-60 26C. Mutual Savings Banks, June and December Call Dates, 1941-60 29

4. Number and Deposits of Commercial and Mutual Savings Banks,by Class of Bank, June and December Call Dates, 1941-60 30

5. Changes in the Number of Commercial Banks, by Class of Bank andby Character of Change, 1941-60 32

6. Number of Banks on the Par List and not on the Par List, by Federal ReserveDistrict and by Class of Bank, 1941-60 34



Banks and the Monetary System

THE BANKING AND MONETARY SYSTEM pro-vides the economy with a unique source ofliquidity and a means of payment and servesas a major channel for the movement of savingsfunds into investment. Because of the impor-tance of these functions to the economy, in-formation about the nature and behavior ofbank credit and money is essential to an under-standing of economic developments.

Primary responsibility for regulating theflow of bank credit and money in the UnitedStates is vested in the Federal Reserve System.The discharge of this responsibility requiresdetailed, accurate, and current information con-cerning the economic situation in general andthe workings of the banking and monetary sys-tem in particular. Consequently, the FederalReserve System over the years has continuallysought to improve the quality of the basicmonetary data collected and of the analyticalmeasures constructed from these data.

Since the publication of Banking and Mone-tary Statistics in 1943, numerous revisions andanalytical reformulations of the reported datahave been undertaken. The most recent wasthe revision of the daily-average money supplyseries in 1962. Further revisions and improve-ments are to be expected in the future. Thepurpose of publishing this section at the presenttime is to provide in one place a consolidationof all the changes that have been made in theseries over the last two decades and to providea convenient reference point for future changes.

The most important advance in the availabil-ity of basic monetary data during the past twodecades has been the introduction of three newstatements in which banking and monetarydata are consolidated. One is the consolidatedcondition statement of the banking and mone-tary system, introduced in 1948 (Table 1). In

that statement the asset, liability, and capitalaccounts of the private banking system—thecommercial and mutual savings banks—arepresented consolidated with the assets, liabili-ties, and capital accounts of the monetary sys-tem—the Federal Reserve Banks, the ExchangeStabilization Fund, the Postal Savings System,and the gold and Treasury currency accounts.From this statement can be obtained a pictureof the banking and monetary system of theUnited States as a whole and of the channelsthat connect the banking and monetary insti-tutions of the country with the Federal ReserveSystem.

Secondly, in 1960 the Federal Reserve intro-duced a new measure of the money supply,based on averages of daily figures, to supple-ment for certain analytical uses the series onthe money supply that had been appearing asan adjunct to the consolidated condition state-ment. The new daily-average money supplyseries, as revised in 1962, is shown in Table 2;the old money supply series, related to theconsolidated condition statement and calculatedfor a single date each month, appears in Table 1.

A third, more comprehensive method ofpresenting financial data developed by theBoard in recent years is the series of flow offunds accounts, which present financial flows,as well as assets and liabilities, not only forthe banking system but also for other majorsectors of the economy—nonbank financialinstitutions, nonfinancial businesses, consumers,governments, and the rest of the world.1

There has also been a major improvementin the basic data collected from the private

1 A comprehensive description of the concepts, methodology,and statistical information contained in these flow of fundsaccounts is set forth in Flow of Funds in the United States,1939-1953 (Board of Governors of the Federal Reserve Sys-tem, 1955). These data are published on a quarterly basis inthe Federal Reserve Bulletin.


banking system. Up to 1947 there were nocompletely consistent figures for all commercialand mutual savings banks by class. TheComptroller of the Currency, the Board ofGovernors of the Federal Reserve System, andthe Federal Deposit Insurance Corporationwere compiling somewhat different balance-sheet statistics for banks. In that year thethree agencies worked out an arrangement forthe Federal Deposit Insurance Corporation tocompile a uniform series of statistics for allbanking institutions. Such uniform data werefirst released semiannually. Beginning in April1961 information has been reported on aquarterly basis for all insured banks. Drawingupon these integrated data and earlier historicalrecords, in April 1959 the Board of Governorspublished a set of revised commercial andmutual savings bank series, prepared with theactive collaboration of the other two Federalagencies. The program also received the coop-erative interest and support of State banksupervisors.2

CONSOLIDATED CONDITION STATEMENT

The consolidated condition statement (Table1) first appeared as a part of a study of moneyflows in an article in the January 1948 FederalReserve Bulletin; since June 1949 the state-ment has been published regularly in theBulletin*

The consolidated condition statement is a bal-ance sheet of the monetary system as a whole,showing the asset, liability, and capital accounts

2 The historical banking data published in this section havenot been revised to reflect the changes embodied in the newcommercial and mutual savings bank series, and consequentlysome minor differences exist between the two.

For further discussion of the development of the statisticsand for data for years before 1941, see the following publica-tions of the Board of Governors of the Federal ReserveSystem: Banking and Monetary Statistics (1943), Section I,and All-Bank Statistics, United States, 1896-1955 (1959).

3 The composition of a few items in the consolidated condi-tion statement differs slightly from the description in thearticle by Morris A. Copeland and Daniel H. Brill, "BankingAssets and Money Supply Since 1929" (pp. 24-32 of theJanuary 1948 issue of the Bulletin). Stock of Federal ReserveBanks held by member banks is included in other securitiesand in capital and miscellaneous accounts, net, and balancesof the Postal Savings System and the Exchange StabilizationFund with the U.S. Treasury are netted against capital andmiscellaneous accounts, net, instead of against U.S. Govern-ment deposits and Treasury cash.

of all commercial and mutual savings banks inthe United States, Federal Reserve Banks, thegold and Treasury currency accounts and theExchange Stabilization Fund (except for theseaccounts the Treasury is not included as a partof the monetary system), and the Postal Sav-ings System.4 The consolidated assets of allbanks and the monetary system consist of themonetary gold stock, the item of Treasury cur-rency (a major component of which is themonetary silver stock), and earning assetsheld in the form of loans, U.S. Governmentsecurities, and other investments. The principalliabilities are the currency outside banks andbank deposits owned by others than banks. Inthe process of consolidation most transactionsamong the components are eliminated, forexample, interbank deposits and interbankloans.

The component statements. The componentparts of the consolidated condition statementare consolidated statements for each of thesegroups or accounts. The following paragraphsdescribe the nature of the statements.

Commercial and mutual savings banks. The con-solidated statement of commercial and mutual savingsbanks (Table 3-A) is based largely on weekly report-ing member bank figures and on the semimonthlyreports of deposits, loans, and investments receivedfrom all other member banks. Monthly data for non-member banks are based on estimates. Call reportdata are used as benchmarks, and figures are partiallyestimated except on December and most June calldates. Estimates are prepared semimonthly, but upto the present the midmonth data have not beenpublished in the Bulletin, but they appear in theBoard's release, "Assets and Liabilities of All Banksin the United States" (G.7).

Federal Reserve Banks and the gold and Treasurycurrency accounts. The need for including in theconsolidated statement for the banking system datafrom the Federal Reserve System and the Treasuryarises from the fact that both institutions are im-portant sources of money held by the public. Thepertinent statistics concerning the Federal ReserveBanks are drawn from the consolidated statement ofcondition of all Federal Reserve Banks, which isprepared and published weekly as a part (H.4.1a)of the release entitled "Factors affecting BankReserves and Condition Statement of F. R. Banks"and also published in the Bulletin. The basic statistics

4 For coverage and classification of banks, see pp. 8-11.


relating to the monetary functions of the Treasuryare released in the Circulation Statement of UnitedStates Money issued monthly by the Treasury. Be-cause of the interrelated nature of monetary trans-actions and accounts involving both the Treasury andthe Federal Reserve Banks, and the effects of manysuch operations upon bank reserves as well as uponpublic holdings of money, a report combining the twounderlying statements is issued weekly as anotherpart of the release referred to above (H.4.1). Thistoo is published in the Bulletin. This combined reportserves as an alternative source of the ingredient ac-counts for the consolidation of Treasury and FederalReserve operations into the consolidated conditionstatement of the entire banking system.

The Exchange Stabilization Fund. The ExchangeStabilization Fund was established under the GoldReserve Act of 1934. Because this Fund is involvedin various Treasury operations in the internationalmonetary field and because it operates with gold, it isincluded within the accounting structure of the mone-tary system. The quarterly balance sheet of the Fundis published in the Treasury Bulletin; monthly dataare received by the Board directly from the Treasuryfor the consolidated statement.

The Postal Savings System. The Postal SavingsSystem has been in operation since 1911. Summarydata of the assets and deposits of the System arepublished in the Annual Report of Operations of thePostal Savings System for each fiscal year. Monthlyestimates of the principal items are received by theBoard directly from the Post Office Department.

The consolidation process. As indicatedearlier, the balance sheet of the banking andmonetary system is a consolidation rather thana combination of the accounts of the com-ponents. In the process of consolidation mostof the relationships among the components areeliminated. The purpose of the statement is toemphasize the relationship of the monetary sys-tem as a whole to the rest of the economy.For example, the financial aspects of thisrelationship are isolated by offsetting certaintangible assets, such as bank premises, furnitureand fixtures, and other miscellaneous assets,against miscellaneous liabilities in a separateitem (capital and miscellaneous accounts, net).

The consolidation process does not adhereto usual accounting procedures in all instances.Some deviations from conventional methods arenecessary in order that the consolidated totalsmay agree with some of the important pub-lished measures of bank credit, deposits, Treas-

ury currency, and Treasury cash. Certainasset and debt relationships are not eliminatedbut rather are carried forward to the consoli-dated account. In some instances these uncon-solidated items are recorded on both the assetand liability sides of the consolidated account.In other instances they are recorded as liabili-ties and negative offsets against liabilities.

In addition, a few accounts are eliminatedthat do not represent transactions betweencomponents of the monetary system. However,the amounts in these accounts are generallysmall and stable. These and other importantdeviations from a theoretically pure consolida-tion procedure are discussed in more detailbelow.

Intersector and intrasector consolidation. The rela-tionships eliminated in consolidation include memberbank reserves, interbank deposits and loans, and intra-sector currency holdings. Member bank reserves arepart of the currency and deposit assets of the commer-cial and mutual savings bank sector and are eliminatedin consolidation by also removing Federal Reserve* lia-bilities for such reserves. Other claims eliminated inconsolidation are interbank deposits and interbankloans. All of these items represent relationships thatcan be specifically identified. However, paired itemsare not usually of the same size on the books of thedebtor and the creditor. These differences, usuallyarising from differences in timing of the two reports,contribute to the discrepancy in the consolidatedaccount. The discrepancies are not shown separatelybut are incorporated in the item, capital and mis-cellaneous accounts, net.

Some intersector claims cannot be specificallypaired off for elimination in the consolidation process.Elimination is accomplished by adding all such lia-bilities not identified by holder (other liabilities ofbanks, other Federal Reserve accounts, other liabili-ties of the Postal Savings System, and liabilities ofthe Exchange Stabilization Fund) and offsetting themagainst the assets not identified by sector of liability(other assets of the banks, Federal Reserve float, andspecial cash accounts and receivables of the PostalSavings System and of the Exchange StabilizationFund). This process yields essentially the same totalas would be achieved in a specific consolidationprocess.

Some intersector claims are not eliminated in con-solidation. Federal Reserve stock, an asset of themember banks and a liability of the Federal ReserveSystem, is carried to the consolidated account whereit is recorded as an asset and also as a miscellaneousliability. This treatment has been followed from thebeginning of the series to keep the item, other securi-ties, in the consolidated statement consistent with the


item, other securities, in the commercial and mutualsavings bank series.

Similarly, the gold reserve underlying United Statesnotes, which is both an asset and a liability of theTreasury monetary funds, is retained in the consoli-dated account. It is included there as part of theTreasury currency assets and as part of the currencyliability of the sector shown under Treasury cash.It is also included in the asset item, gold stock, andthe liability item, currency in circulation, and is,therefore, recorded a second time in the consolidatedstatement in the items, gold stock and currency out-side banks. Although this results in double counting(in 1960 a constant $156 million), the consolidatedstatement items, gold stock and Treasury cash, arekept consistent with published figures for bank re-serves and related items, gold stock, and Treasurycash holdings.

Special treatment. Special treatment is also ac-corded some relationships with other sectors—thegold holdings (that is, the "active" gold) of the Ex-change Stabilization Fund, the deposits of domesticbanks in foreign banks, currency held by banks interritories and possessions of the United States, anddeposits of the Postal Savings System and the Ex-change Stabilization Fund with the Treasury.

The nonmonetary gold held by the ExchangeStabilization Fund (included in the Fund's specialcash accounts and receivables)—the active gold—is agold asset of the monetary system not included inthe monetary gold stock. However, it is classed inthe consolidated sector account as a negative lia-bility rather than as an asset and is included in theitem, capital and miscellaneous accounts, net.

Deposits of commercial banks in foreign banks arenot recorded as assets of the consolidated accountbut are deducted from deposits of foreign banks indomestic commercial banks and Federal ReserveBanks to yield the item, foreign bank deposits, net.

Banks in territories and possessions of the UnitedStates are not part of the banking sector, and cur-rency held by them is not automatically eliminatedfrom currency liabilities in the process of consolida-tion. Therefore, to conform to the traditional serieson currency outside banks, which excludes currencyheld in banks in such territories and possessions, suchitems are excluded from the currency liabilities of themonetary system (that is, from the item, currencyoutside banks) and are included instead in the item,capital and miscellaneous accounts. The amount in-volved is small; it was about $20 million as of De-cember 31, 1960.

Deposits of the Postal Savings System and the Ex-change Stabilization Fund with the Treasury are notrecorded under assets in the consolidated statement.They are netted against the item, capital and mis-cellaneous liabilities.

Composition of items. The resulting state-ment, after these consolidations and nettingsare performed, includes, on the asset side,

monetary reserves and bank credit (bank loans,net, and investments), and, on the liabilityand capital account side, essentially the cur-rency and deposits and other debts owed bythe banking system to others.5

The asset side. Gold includes the monetary goldstock; the monetized silver is a component of Treasurycurrency assets. In addition to the monetary silvercomponent of Treasury currency assets, the Treasurycurrency item includes the gold reserve againstUnited States notes, deposits made with the Treasuryfor the redemption of Federal Reserve Bank notesand national bank notes, and the credit of the UnitedStates securing both minor coin in circulation and thatpart of the United States notes outstanding not backedby the gold reserve. The remaining assets representloans (net of bad debt reserves) and investments inFederal obligations, State and local obligations, andcorporate securities.

The liabilities and capital account side. The bank-ing system's net liability for deposits and currency,the capital accounts of commercial banks, and mis-cellaneous liabilities make up the other side of thestatement. Currency outside banks excludes domesticbank vault cash and currency held by banks in ter-ritories and possessions of the United States. Demanddeposits adjusted exclude interbank demand depositsand U.S. Government demand deposits and are netof cash items in the process of collection. Time de-posits adjusted exclude U.S. Government and inter-bank time deposits and Postal Savings System bal-ances with banks. Treasury cash includes the Treasury'sworking cash balance of currency and coin, the bal-ances in the gold and silver general funds (the "free"gold and silver), and the gold reserve against UnitedStates notes.

The capital account and miscellaneous liabilitiesitem includes paid-in capital and other capital ac-counts of commercial banks and Federal ReserveBanks, reserve accounts of mutual savings banks,the amounts owed by commercial banks to theirforeign branches, the liability of the monetary systemfor currency and deposits held by banks in the ter-ritories and possessions of the United States, thecapital stock of the Exchange Stabilization Fund, andother miscellaneous liabilities of the monetary system.Also it has been reduced by certain asset itemscarried in the consolidated account as negative lia-bilities—Federal Reserve float, the active gold anddeposits of the Exchange Stabilization Fund withthe Treasury, and the discrepancies arising when itemsthat should offset each other exactly are not equal.

Sources of discrepancies. In the process ofconsolidating the asset and liability accounts

5 For further detail on these items than that given in thisdescription, see "Member Bank Reserves and Related Items,"Section 10 of Supplement to Banking and Monetary Statistics.


for the components of the banking and mone-tary system, discrepancies arise when items thatshould offset each other exactly differ inamount because the reporting procedure doesnot allow for the lapse of time necessary tocomplete the recording of certain interbanktransactions or because the reports are notrendered on the same date. In addition, clericaland reporting errors of various kinds are nodoubt responsible for some of the differencesbetween the various reported items.

Time lag. The liability item of member bank re-serves, as it appears on the books of the Federal ReserveBanks, is larger than the amount the banks report asan asset item, reserves with Federal Reserve Banks,because of the time lag between the book entries ofthe member banks and the Federal Reserve Banks.

Similarly, at June and December call dates, whenthe classification of loans is reported and tabulatedfor all banks, the amount of loans to banks reportedby the banking system frequently is larger thanreported borrowings by banks. The main causes ofa difference in this direction appear to be (1) at theclose of business on a call date the borrowing ac-counts of banks paying off obligations during the dayhave been reduced by the amount of the repayments,but corresponding entries cannot be made on thebooks of the lending institutions until payment is re-ceived, which is sometimes the next day or later; and(2) loans by U.S. banks to banks in foreign countriesare appropriately included in loans by the U.S. mone-tary system, but there is no offsetting item of bor-rowing within the system.

On the other hand, some factors tend to offset theexcess of reported loans over reported borrowings.For example, a part of the borrowings may be fromnonbanking institutions. If so, that portion of theborrowings should remain as a liability instead ofbeing eliminated in the consolidated statement, butthe amount of such outside borrowings, if any, isunknown. Also, until October 11, 1957, when instruc-tions were revised, sales of securities under repurchaseagreements were reported as borrowings by thecreditor banks, while purchases of securities underresale agreements were reported as securities heldby the debtor banks; hence there were no offsettingfigures in their loan accounts.

Reporting dates. Another source of discrepancyis the use of last-Wednesday-of-the-month data forcommercial banks, Reserve Banks, and Treasury ac-counts (except for December and most June calldates), and of last-business-day-of-the-month data formutual savings banks and Exchange StabilizationFund accounts, and, through June 30, 1956, for thePostal Savings System accounts. Beginning withJuly 1956, data for the Postal Savings System arereported as of Friday every four weeks. However,

the dollar volume of most postal savings items issmall and is declining monthly. Consequently round-ing may eliminate most of the discrepancy.

MEASURES OF THE MONEY SUPPLY

Money performs the essential economic func-tions of providing a medium of exchange, areadily available store of value, and a standardof value. Monetary transactions and the finan-cial instruments used in effecting them take avariety of forms, and many types of claimsother than currency and demand deposits mayserve to provide part of the public's totalliquidity requirements. However, the only in-struments that perform all of the functions ofmoney are the public's holdings of coin, cur-rency, and demand deposits in banks.

This concept of the money supply does notdeny the significance of time deposits or ofother types of savings instruments or, for thatmatter, the importance of changes in the pub-lic's holdings of less liquid assets. Even themost liquid of these other types of assets, how-ever, must generally be converted into money,as defined here, before being used in economictransactions.

The stock of money is constantly beingextinguished through the payment of debts atbanks, and new money is being created throughthe extension of new bank credits. The volumeof money that the public chooses to hold—inits pockets, in tills, and in deposit accounts—varies from time to time relative to its holdingsof other assets and to the total volume ofexpenditures in the economy. Public demanddetermines the proportion of the money supplyheld in the form of currency and the propor-tion held on deposit in banks.

The Federal Reserve System has primary re-sponsibility for regulating the total volume ofmoney available to meet the public's demands.In performing this function the System requiresan accurate, frequent, and promptly availablemeasure of the money supply. Throughout itsexistence the Federal Reserve has collectedand published data on the money supply.


The first long-term series on the moneysupply used by the Federal Reserve was thatpublished in Table 9 of Section 1 of Bankingand Monetary Statistics. This table shows datafor both demand and time deposits of banksand for currency for June call dates for theperiod 1892-1922 and for June and Decembercall dates for 1923-41. Data for later yearshave appeared regularly in the Bulletin.

In early 1948 the Board of Governors re-leased the first materials on the consolidatedcondition statement for the banking system.This statement related currency and depositliabilities of the banking system to bankingassets. A year later the Board began to pub-lish data for the consolidated statement eachmonth. Data on the money supply, previouslyavailable only for call dates, were thereafteralso available as a part of this consolidatedstatement.

Each of these measures of the money sup-ply and related items was as of a single date.Although there are advantages in being ableto relate the components of the money supplyto specific dates for purposes of comparisonwith other financial variables similarly meas-ured, statistics as of a single date are subjectto variabilities which complicate interpretation.

To provide a more refined measure for usein analyses focusing essentially on the per-formance of the money supply itself and on itsrelation to aggregate flows or other variablesrelatively free of the hazards of single-datemeasurement, the Board in late 1960 intro-duced a new measure of the money supplybased on averages of daily figures. Some furtherrefinements of this average series were publishedin the summer of 1962. The following sectionsdescribe this new series (Table 2), and indicatehow a number of conceptual and technicalchanges that were made in it have resulted inmodest differences from the historical single-date series. The single-date series continues tobe useful for such purposes as comparisons withassociated levels and movements of particularbank assets and nonbank financial claims. To

facilitate this type of use, the single-date seriesis shown adjacent to the other components ofthe consolidated condition statement of thebanking system in Table 1.

The Federal Reserve Board's quarterly flowof funds accounts include a single-date meas-urement of the money supply that is identical indefinition to the daily-average series. In theflow of funds accounts the tables on the com-mercial banking and monetary authorities sectorshow demand deposit and currency liabilitiessubdivided into three categories: due to theU.S. Government, due to the rest of the world,and due to others. The sum of the entries fordue to the rest of the world and due to others isidentical in coverage to that of the daily-averageseries: both series include foreign balances withFederal Reserve Banks, which are excludedfrom the single-date series. A detailed com-parison of the coverage of the flow of fundsseries, the monthly single-date series, and themonthly daily-average series is given in the tableon page 12.6

Types of deposit holders. The daily-averageseries—like the single-date series—defines themoney supply as the total of the public's hold-ings of coin, currency, and demand depositsin banks. The two series differ in coveragelargely in their treatment of demand depositsand vault cash of certain types of institutionsand their treatment of banks and branches interritories and possessions.

The daily-average series, like the single-dateseries, includes demand deposits held in com-mercial banks by financial institutions, such assavings and loan associations and life insurancecompanies. However, the daily-average seriesincludes in addition demand deposits at com-mercial banks due to mutual savings banks,banks in U.S. territories and possessions, andforeign banks. It also contains foreign demanddeposits at Federal Reserve Banks, including

6 For a comprehensive description of the flow of fund series,see the source cited in note 1 on page 1. For a more detailedaccount of the differences between the other series than thatgiven below, see "A New Measure of the Money Supply"{Bulletin, October 1960, pp. 1102-23) and "Revision of MoneySupply Series" {Bulletin, August 1962, pp. 941-44).


those due to foreign governments, central banks,and international institutions. These depositsare excluded from the single-date series.Amounts due to these institutions representcash available for investment in much the sameway as balances of other financial institutionsand involve no duplication of funds held byothers.

The daily-average series includes currencyheld by financial institutions other than domes-tic commercial banks, thus paralleling the treat-ment of the demand deposits owned by suchinstitutions. The single-date series, on theother hand, excludes the vault cash of mutualsavings banks and currency held in the posses-sions of the United States. Both series excludecash held in the vaults of domestic commercialbanks.

Both series exclude commercial interbankdeposits, because such deposits involve doublecounting; deposits "due to" commercial banksare matched by "due from" accounts at othercommercial banks and the two accounts canceleach other when the statements of all com-mercial banks are consolidated.

Both series also exclude deposits of the Fed-eral Government but include those of Stateand local governments. U.S. Government de-posits are excluded primarily because thesedeposits do not represent money in the handsof the public and have little influence on theexpenditures of the Federal Government. How-ever, deposits of State and local governmentsexhibit economic characteristics not unlike de-posits of large private economic entities.

Timing of data. The daily-average series ispresented in Table 2 on both an annual andmonthly basis for ready comparison with otherfinancial statistics reported for similar periods.The series is available in the Bulletin asmonthly and semimonthly averages. Weeklydata are also published for recent years buthave not yet been adjusted for seasonal varia-tion.

Data in the single-date series on the moneysupply refer to the last Wednesday of the month

except in December and for most June dates,when call report data are used.

Eliminating duplication. In the daily-averageseries duplication has been reduced still furtherthan it has been in the single-date series. Inthe daily-average series both cash items inprocess of collection, as reported on the booksof the banks, and Federal Reserve float, derivedfrom Federal Reserve statements, are deducted,whereas only cash items in process of collectionare deducted from the single-date series.

Unadjusted or gross deposit figures containa sizable element of duplication because checksare added to the accounts of payees before theyare subtracted from the accounts of issuers.Deducting cash items in the process of collec-tion, as recorded on the books of commercialbanks, makes a partial correction for thisdouble counting. An additional adjustmentis made by deducting Federal Reserve float,which represents items in the process of col-lection by Federal Reserve Banks. A study offloat indicated that an important proportion ofthese items arises from causes that lead to ap-propriately deductible float. Both of these ad-justments for double counting in the gross de-posits figures tend to overcorrect the figuressomewhat, but they improve the adjusted seriesas an unduplicated measure of deposits.

Although these changes improve the series,the problem of duplication has not been fullysolved either statistically or conceptually. Theresidual duplication, however, does not appearlarge enough, nor are changes in it greatenough, to impair the usefulness of the datafor most analytical purposes.

Seasonal adjustments. Seasonal adjustmentsto the money supply series remove the normalseasonal movements in demand deposits andcurrency holdings of the public, thus making iteasier to see any unusual changes in these itemsand in the total money supply.

Daily-average series. Average demand depositsnormally rise to a seasonal peak in the second halfof December, declining thereafter through the firstquarter, and reaching a seasonal low in the secondhalf of May. Seasonal movements in demand deposits


have changed substantially in the postwar period. Amajor influence was the provision for speeding upFederal corporate income tax payments, which beganin 1951 and which was completed in 1960. Anotherfactor was the shift from March 15 to April 15 inthe date for final settlement by individuals of theirFederal income tax payments.

The seasonal movements in currency held by thepublic are not quite so strong as those in demanddeposits. Currency's low point comes in the secondhalf of February; it rises to a seasonal high in thesecond half of December.

The daily-average data are seasonally adjusted byratio-to-moving-average methods. Seasonal factors fordemand deposits were derived by a method longused by the Federal Reserve, in which judgmentas well as mechanical computation is employed.Factors for the currency component were derivedby Census Method II, utilizing an electronic com-puter.7

Single-date series. The amplitude of seasonal move-ments in the single-date series is greater than thatin the daily-average series. Demand deposits in thisseries normally rise to a seasonal peak in Decemberand decline thereafter to a seasonal low near theend of March. The months in which variations inthe date of the last Wednesday appear to affectsignificantly the level of demand deposits in the handsof the public are March, June, October, andDecember. In March adjustments are made whenthe last Wednesday falls on the 30th or 31st, largelybecause April 1 is the date for the assessment of thepersonal property tax in Cook County, Illinois, andmany individuals and businesses reduce their bankdeposits temporarily and put their funds in otherassets, particularly short-term U.S. Government se-curities. Adjustments for December are made whenthe last Wednesday is affected by large withdrawalsover the Christmas holiday and by the sharp year-endrise that partly reflects window dressing by businessesfor their annual statements. Small adjustments indeposits are also made for June and October.

Currency in the hands of the public also tends tovary with the date on which the last Wednesday falls.Most of the special adjustments in this series aremade for months in which the last Wednesday is aholiday or the day before a holiday, e.g., Christmas,Thanksgiving, or Memorial Day.8

7 For descriptions of these methods, see "Adjustment forSeasonal Variation" (Bulletin, June 1941, pp. 518-28), andJulius Shiskin, Electronic Computers and Business Indicators,Occasional Paper 57, National Bureau of Economic Research,New York, 1957. The Method II computer program wasadapted wherever necessary to apply to semimonthly as wellas monthly data. For further details on the seasonal ad-justment process and the seasonal factors used, see "Revisionof Money Supply Series," cited earlier.

8 For further details on the adjustment process and for theseasonal factors used, see "Revised Series for SeasonallyAdjusted Money Supply" (Bulletin, February 1960, pp. 133-36). The special adjustment in the seasonal factor forMar. 30, 1960, shown on p. 135, note 3, of that article hasbeen revised from —0.9 to —0.5. The new factor is 97.9.

Comparative levels. The daily-average seriesis considerably higher than the single-dateseries, but the difference in the general levelsof the two series is relatively stable. Thisdifference reflects mainly the net effect ofadding commercial bank demand deposits dueto mutual savings and foreign banks to thedaily-average series, of deducting Federal Re-serve float, and of adding foreign balances atFederal Reserve Banks.

Short-term movements in the two seriesoccasionally show significant differences. Thesedifferences reflect principally the wide fluctua-tions in single-date figures. Some of these vari-ations are characteristic of particular days ofthe week or of the month; some are due tothe influence of holidays, some to the incidenceof tax or dividend payment dates; some mayat times reflect weather conditions. The use ofaverages of daily figures—whether for a month,a half month, or a week—smooths most ofthese differences.

The table on page 12 compares the cover-age and treatment of some of the data usedin the two series. The coverage and treatmentof the same data in the flow of funds accountsare included for reference.

NUMBER AND CLASSIFICATIONOF BANKS

The nongovernmental part of the bankingsystem of the United States is made up ofthousands of separate institutions, some char-tered by the Federal Government, some by theStates. In addition, there are some privatebanks, about 85 in 1960, but they are now fewin relation to the total number of banks andthey hold a negligible portion of total bankassets. These institutions, although more nu-merous in earlier years, were excluded frommany of the previous series. For example, theywere excluded from Table 14 of Banking andMonetary Statistics but are included in theotherwise comparable Table 5 here.

In these series, a private financial institutionis included as a bank if it accepts deposits from


the general public or if it conducts principallya fiduciary business. This definition conformsto the definition used by the Comptroller of theCurrency, the Federal Deposit Insurance Cor-poration, and the Board of Governors of theFederal Reserve System in the commercial andmutual savings bank statistics published begin-ning with 1947. Under this definition certaintypes of banks previously excluded, such asprivate banks, were thereafter included, andthere were some changes in classification. Butthe changes had little effect on data for theyears 1941-46 shown in this section.9

The definition of a bank underlying the datafor the years before 1947 is "a financial institu-tion which accepts money from the generalpublic for deposit in a common fund, subject towithdrawal or transfer by check on demand oron short notice, and makes loans to the generalpublic." Under both definitions building andsavings and loan associations, personal loanand other small-loan companies, credit unions,mortgage companies, sales finance companies,insurance companies, Federal Reserve Banks,and credit agencies owned in whole or in partby the Federal Government are excluded.

In arriving at the number of banks, the unitis a single bank, including any branches;branches are not counted separately. However,banks joined through ownership or control bya common holding company are counted asseparate banks.

Classification. In this section banks (otherthan Federal Reserve Banks) are classified inthree ways: by supervisory jurisdiction; byfunction, that is, broadly by the type of depositbusiness handled; and by whether they chargeor do not charge for clearing checks. Classi-fication by supervisory jurisdiction dependspartly on the incorporation of the bank, whetherunder Federal or State law; partly on whetherthe bank is a member in the Federal ReserveSystem; and partly on whether its deposits areinsured (Tables 3-6).

9 For complete descriptions of the types of institutionsincluded and of those excluded, see the 1956 Annual Reportof the Federal Deposit Insurance Corporation, pp. 88-89.

National banks. National banks are incorporatedunder Federal law and operate under the supervisionof Federal authorities only. All national banks inthe United States are required by law to be membersof the Federal Reserve System and of the FederalDeposit Insurance Corporation.

State member banks. Banks organized under Statelaws may be admitted to membership in the FederalReserve System upon complying with certain pre-scribed conditions. State member banks of the FederalReserve System, with minor exceptions, are requiredto be members of the Federal Deposit InsuranceCorporation. State member banks are subject to bothFederal and State supervision.

Insured nonmember banks. State banks that arenot members of the Federal Reserve System may beadmitted to Federal deposit insurance upon meetingcertain prescribed conditions. These banks also aresubject to both Federal and State supervision.

Noninsured banks. These banks do not come underFederal supervision. They include banks charteredunder State laws, which are subject to State super-vision, and private banks, which are generally notsupervised by any banking authority.

Broad classification of banks by functionbased on the type of deposit business they pri-marily conduct divides banks into two cate-gories: commercial banks and mutual savingsbanks (Table 3).

Commercial banks. Commercial banks are bankswhose business includes the holding of checkingaccounts and other deposits subject to withdrawal ondemand, and the making of short-term, self-liquidat-ing loans to commerce, agriculture, and industry.(They may also, and usually do, hold time and savingsdeposits as well.) Commercial banks include bothFederally chartered and State-chartered institutions.The second group includes State commercial banks,nondeposit trust companies, stock savings banks, in-dustrial banks, and cash depositories. Private banksalso fall into this category. Most commercial banksare Federally insured, some are not.

Mutual savings banks. With a few minor excep-tions, mutual savings banks carry only savings andother time deposits, and they invest their funds pri-marily in mortgage loans and securities. All of themare State-chartered institutions, and they exist in onlya few States; most are in the northeastern section ofthe United States. Many are Federally insured.

The Federal Reserve Act provided for asystem of check collection through FederalReserve Banks to eliminate the undue expenseand delay which up to that time were involvedin check collections in nearly all parts of thecountry. Under this system the Federal ReserveBanks receive and forward for payment checks


drawn on member banks, all of which arerequired to remit at par, and on those non-member banks that have agreed to remit at par.

Par list. The statistics of banks on the par list andnot on the par list (Table 6) include all banks onwhich some checks are drawn, except for the fewmutual savings banks that carry demand deposits,and exclude banks on which no checks are drawn.Banks on the par list include all member banks andthose nonmember banks that have agreed to remitat par. Banks not on the par list are nonmemberbanks that have not agreed to pay without deductionchecks forwarded for payment through the FederalReserve Banks. Checks on such banks are not col-lectible through the System. The total number ofnonmember banks in Table 6 differs somewhat fromthe number of nonmember banks shown in othertables of this section largely because Table 6 excludesand the other tables include banks on which nochecks are drawn, principally industrial banks andtrust companies without deposits.

Coverage and changes in coverage or classi-fication. The statistics in this section include allnongovernmental banks in the United States.All banks in Alaska have been included sinceit was admitted to statehood in January 1959,and all banks in Hawaii since it was admittedin August of that year. Their deposits were$172 million and $386 million, respectively,on the call date before admission.

Apart from three national banks that aremembers of the Federal Reserve System, onein Alaska (included since April 1954), one inHawaii (included since April 1959), and onein the Virgin Islands (included since May1957), these tables do not include data forbanks in territories or possessions of the UnitedStates, and therefore the figures differ fromthose published by the Comptroller of the Cur-rency for national banks and by the FederalDeposit Insurance Corporation for insuredbanks. Branches and agencies of foreign banksdoing business in the United States are gener-ally excluded. Assets and liabilities of branchesof domestic banks outside the United States arealso excluded.

All commercial banks include all FederalReserve member banks and all nonmembercommercial banks. Stock savings banks andnondeposit trust companies are included with

commercial banks. During 1941 three mutualsavings banks became members; these banksare included in both member bank figures andinsured mutual savings bank figures. (Onewithdrew from membership in 1960, a secondin 1961, and the third in 1962.) They are notincluded in the total for commercial banks andare counted only once in the total for all banks.One noninsured, nondeposit trust company isalso included in the member bank series. Afew noninsured banks for which asset andliability data are not available are included inthe number of banks.

Beginning with December 1947 the serieswere revised as announced in November by thethree Federal bank supervisory agencies. Atthat time a net of 115 noninsured nonmembercommercial banks with total loans and invest-ments of $110 million were added, and 8 bankswith total loans and investments of $34million were transferred from the noninsuredmutual savings bank to the nonmember com-mercial bank category.

In addition to these specific changes, and theorganization of new banks, the comparabilityof figures for classes of banks is affected some-what by changes in Federal Reserve member-ship, Federal insurance status, mergers, and soforth. The following paragraphs describe indetail the various types of changes (Table 5).

A primary organization represents the charteringof a newly organized bank except when the issuanceof a new charter is incident to a consolidation,merger, absorption, succession, or conversion of agoing bank.

A conversion represents the issuance to an activebank of a national charter to supersede a Statecharter under which it has previously been operating,or of a State charter to supersede a national charter.Only simple conversions looking toward permanentoperation under the newly issued charter and involv-ing no other change in status are included in thiscategory. Some conversions are effected merely as anecessary legal step in a consolidation, merger, orabsorption, the new charter being surrendered shortlyafter the conversion. Such cases are considered con-solidations or absorptions rather than conversionsunless the temporary bank's existence runs over theend of the calendar year. In this event it is countedas a conversion in the year in which the change incharter occurs and as a consolidation, merger, or

10


absorption in the year following when the newlyissued charter is surrendered. This is done so that thestatus of changes will agree, insofar as practicable,with the number of banks shown in the year-endabstracts of condition reports.

A suspension represents the temporary or perma-nent closing of a bank to the public by supervisoryauthorities or by the bank's board of directors becauseof financial difficulties.

A reopening of a suspended bank represents theresumption of operations of a previously suspendedbank. Even if the bank reopens with a new name anda new charter, the action is still classed as a reopeningrather than as a primary organization.

A consolidation or absorption represents the cor-porate union of two or more going banks into onebank that continues under a single charter, eithera new or old one. The term is used in an economicrather than a legal or technical sense, the essentialconsideration being that the business of two or moregoing banks becomes concentrated under one charterand one management. Banks absorbed by other banksand converted into branches are counted as consoli-dations or absorptions. The classification also includescases in which two or more banks absorb anotherbank and then distribute its business among them-selves or in which the assets and liabilities of aweak bank are transferred to another bank to avoid

suspension. The banks that go out of existenceor are converted into branches because of con-solidations or absorptions are counted; the continuingor absorbing banks are not counted.

A voluntary liquidation represents the voluntarydiscontinuance of operations and the surrender of itscharter by an active bank. However, voluntary liqui-dations legally incidental to conversions, consolida-tions, or absorptions are included in one of thosecategories, not in this one. For example, if a banktransfers most or all of its assets to another bankunder an agreement whereby the second bank assumesits liabilities, the change is counted as a consolidationor absorption, not as a liquidation.

An admission to or a withdrawal from FederalReserve membership represents a case where aState bank joins or leaves the Federal Reserve Sys-tem. A few State banks are organized with the inten-tion of becoming members before opening for busi-ness. Such banks are counted both as primaryorganizations of nonmember banks and as admissionsto membership under increases in State memberbanks and under decreases in nonmember banks.

Unclassified changes are those changes that cannotbe classified elsewhere because of special circum-stances involved in the change or because of a lack ofessential data.

11


TABULAR COMPARISON OF MONEY SUPPLY SERIES

Sector or data

Daily-Average Money Supply Series:Commercial bank demand depositsand currency in circulation outsidethe Treasury, Federal Reserve

Banks, and commercial banks.

Consolidated Condition Statementfor Banks and the Monetary

System (CCS):Demand deposits adjusted and

currency outside banks.

Flow of Funds/Saving Accounts:Commercial banking and monetaryauthorities sector; demand deposits,net, and currency liabilities (exclud-

ing "due to U.S. Government").

1. Type of data

2. Timing of data

3. Geographic coverage of data

4. Banks in territories andpossessionsA. Demand balances with

U.S. banks (an asset ofbanks in territories andpossessions)

B. Currency and coin held(as asset of banks interritories and posses-sions)

C. Demand deposit liability(a liability item of banksin territories and posses-sions)

5. Mutual savings banks

A. Demand balances withU.S. banks (an asset ofthe mutual banks)

B. Currency and coin held(an asset of the mutualbanks)

C. Demand deposits (a lia-bility item of mutualbanks)

6. Foreign demand deposits ofindividuals, partnerships,and corporations with U.S.commercial banks

7. Foreign bank demand bal-ances with U.S. commercialbanks

8. Foreign balances with Fed-eral Reserve Banks

9. Federal Reserve float

Average of daily figures for semi-monthly (and weekly) periods.

Opening of day.

United States.Same as CCS.1

Included in demand deposit liabili-ties. (Not deducted as an interbankitem.)

Includedbanks.

in circulation outside

Excluded (except for member banksin Alaska and Hawaii reportingdeposits and related items beforestatehood; see Item 3, CCS).

Excluded. Series covers only com-mercial banks.

Included in deposit liability ofcommercial banks and thus inmoney supply figure.

Included as currency in circulation.

Excluded from commercial bank-ing deposit liability.

Included in deposit component ofmoney supply series (not identi-fied separately).

Included in deposit component ofmoney supply series (not identi-fied separately).

Included as part of deposit com-ponent.

Deducted from gross demand de-posits; therefore lessens the de-mand deposit component.

Last Wednesday of the monthexcept for December and mostJune dates when call report dataare used.

Close of day.

United States.1

Excluded; since the counterpart(due to banks in territories andpossessions by U.S. banks) is sub-tracted from "gross demand de-posits."

Excluded.

Excluded (except for member banksin Alaska and Hawaii reportingdeposits and related items beforestatehood; see Item 3 in thiscolumn).

Included in banking sector.

Excluded; netted out when "de-posits due to banks" are subtractedfrom "gross demand deposits."

Excluded.

Included in demand deposits ad-justed.

Included in demand deposits ad-justed (not identified separately).

Part of "foreign bank deposits,net." The CCS nets "due from"foreign banks against "due to"foreign banks.

Part of "foreign bank deposits,net," except deposits of inter-national agencies.

Entered as a negative item in"capital and miscellaneous ac-counts, net"; does not reducedemand deposits adjusted.

Values on last day in year orquarter and change between dates.

Close of day.

United States.Same as CCS.1

Included in demand deposit liabili-ties. (Not deducted as an inter-bank item.)

Included in currency liabilities ofconsolidated banking system.

Excluded from demand depositliabilities (except for member banksin Alaska and Hawaii reportingdeposits and related items beforestatehood; see Item 3, CCS).

Excluded from commercial bankingsector.

Included.

Included.

Excluded.

Included in demand deposits andcurrency; a liability to rest-of-worldsector.

Included in demand deposits andcurrency; a liability to rest-of-worldsector.

Included as part of demand depos-its and currency; a liability to rest-of-world sector.

Netted against gross demand de-posits; therefore lessens the serieson "demand deposits, net."

1 Banking coverage in the Consolidated Condition Statement is described on pages 8-11.

12



1. CONSOLIDATED CONDITION STATEMENT FOR BANKS AND THE MONETARY[Single-date figures; in millions

DateGold

22,62422,737

22,73722,726

22,38821,938

21,17320,619

20,21320,065

20,27020,529

21,26622,754

22,90023,00023,10023,20023,30023,53223,70023,70023,90024,00024,20024,244

24,30024,30024,30024,30024,30024,46624,50024,60024,60024,60024,50024,427

24,40024,30024,20024,20024,20024,23124,20023,80023,50023,30023,00022,706

22,40022,10021,90021,80021,80021,75621,80021,80022,00022,20022,30022,695

Treas-urycur-rencyout-stand-ing

3,1493,247

3,3133,648

4,0774,094

4,1044,131

4,1454,339

4,5394,562

4,5524,562

4,6004,6004,6004,6004,6004,5654,6004,6004,6004,6004,6004,589

4,6004,6004,6004,6004,6004,5974,6004,6004,6004,6004,6004,598

4,6004,6004,6004,6004,6004,6074,6004,6004,6004,6004,6004,636

4,6004,6004,6004,6004,6004,6554,7004,7004,7004,7004,7004,709

Total

61,38764,653

67,93285,693

96,563110,200

125,517140,538

153,992167,381

163,485158,366

156,297160,832

160,700158,700156,800157,200157,600157,958158,600159,200159,500160,000159,900160,457

159,400158,700157,300156,800156,200156,491156,500158,700159,800160,300160,700162,681

162,500161,900161,700162,000162,600164,348164,300165,800166,800167,700168,700171,667

170,500170,700172,100172,100171,300173,447173,300174,300176,400178,300179,400181,323

Loans,net

25,30526,605

25,08023,918

22,23423,566

25,36125,974

27,94830,387

31,57035,765

38,37343,023

43,20043,60043,90044,00044,70045,29945,50046,10047,10047,30048,00048,341

48,20047,80048,10047,10046,70047,14846,50047,20047,90048,10049,00049,604

49,40049,70050,40050,60051,00051,99953,10054,50056,30057,50059,10060,366

60,60061,50062,50062,60062,90063,82163,40064,00065,00065,80066,50067,597

Assets

Bank credit

U.S.

Total

26,98429,049

34,22653,495

66,43479,201

92,609107,003

118,041128,417

122,740113,110

107,873107,086

106,700104,400101,800102,100101,800101,451101,800101,800100,800101,400100,600100,694

99,90099,50097,70098,10097,80097,42897,80099,10099,30099,60099,100100,456

100,40099,30098,00097,90098,10098,70997,50097,20096,00095,80095,20096,560

95,20094,50094,70094,60093,50094,45094,60095,00095,90097,00097,40097,808

Government obligations

Com-mercialand

savingsbanks

23,53925,511

30,29945,951

57,74065,932

75,73785,885

93,655101,288

95,91186,558

82,67981,199

81,40080,00077,60078,30077,90076,77477,30077,00074,20074,90074,30074,097

74,60073,90072,60073,60074,80074,87776,10078,30078,30079,10078,30078,433

79,50078,60077,40077,10077,70077,32076,40075,60073,80073,60072,70072,894

70,80069,80069,30068,90068,40068,72668,90069,20069,70070,80071,50071,343

FederalReserveBanks

2,1842,254

2,6456,189

7,20211,543

14,90118,846

21,79224,262

23,78323,350

21,87222,559

22,00021,00020,90020,40020,60021,36621,20021,50023,30023,20023,00023,333

22,00022,40021,80021,20019,70019,34318,50017,50017,90017,40017,70018,885

17,80017,60017,50017,60017,40018,33118,00018,60019,40019,20019,60020,778

21,50021,90022,60022,90022,30022,98223,10023,10023,50023,60023,20023,801

Other

1,2611,284

1,2821,355

1,4921,726

1,9712,272

2,5942,867

3,0463,202

3,3223,328

3,4003,4003,4003,3003,3003,3113,3003,3003,3003,3003,3003,264

3,3003,3003,3003,3003,2003,2083,2003,2003,2003,1003,1003,138

3,1003,1003,1003,1003,1003,0583,0003,0002,9002,9002,9002,888

2,9002,9002,8002,8002,8002,7422,7002,7002,7002,7002,7002,664

Othersecu-rities

9,0988,999

8,6268,280

7,8957,433

7,5477,561

8,0038,577

9,1759,491

10,05110,723

10,80010,80011,20011,20011,10011,20811,30011,40011,50011,30011,30011,422

11,30011,40011,50011,60011,70011,91512,30012,50012,60012,60012,60012,621

12,70012,90013,30013,50013,50013,64013,80014,20014,50014,40014,50014,741

14,70014,80014,90015,00014,90015,17615,30015,30015,40015,50015,50015,918

Totalassets,net-Totalliabil-itiesand

capital,net

87,16090,637

93,982112,067

123,028136,232

150,794165,288

178,350191,785

188,294183,457

182,115188,148

188,200186,300184,500185,000185,500186,055186,900187,500187,900188,600188,600189,290

188,200187,600186,200185,700185,100185,554185,700187,900189,000189,500189,800191,706

191,600190,800190,500190,800191,400193,186193,100194,200194,900195,600196,400199,009

197,500197,500198,600198,600197,700199,858199,700200,700203,000205,200206,400208,727

Liabilitiesand capital

Totaldepositsand

currency

79,35782,811

86,064104,306

114,812127,959

141,551155,960

168,040180,806

176,215171,657

169,234175,348

175,200173,700171,500171,600172,200172,857173,400174,000174,500175,100175,200176,121

174,900174,400172,600172,000171,300171,602171,500173,800174,400174,900175,300177,313

177,100176,200176,000176,100176,700178,568178,200179,200179,900180,100181,000184,385

182,500182,600183,700183,600182,900185,038184,500185,200187,300189,200190,500193,410

Capitalandmisc.ac-

counts,net

7,8037,826

7,9187,761

8,2168,273

9,2439,328

10,31010,979

12,07911,800

12,88212,800

13,00012,60013,10013,30013,30013,20013,50013,50013,40013,50013,40013,168

13,40013,20013,60013,70013,80013,95214,20014,20014,50014,60014,50014,392

14,40014,60014,60014,60014,70014,61814,90015,00014,90015,50015,30014,624

15,10014,80014,90015,00014,80014,82015,20015,50015,70016,00015,90015,317

1941—June 30Dec. 31

1942—June 30Dec. 31

1943_june 30Dec. 31

1944__jUne 30Dec. 30

1945_june 30Dec. 31

1946—June 29Dec. 31

1947_jUne 30Dec. 31

1948—Jan. 28Feb. 25Mar. 31,Apr. 28May 26June 30July 28Aug. 25Sept. 29Oct. 27Nov. 24Dec. 31

1949—Jan. 26Feb. 23.Mar. 30Apr. 27,May 25June 30July 27Aug. 31Sept. 28Oct. 26Nov. 30Dec. 31

1950—Jan. 25Feb. 21Mar. 29Apr. 26May 31June 30July 26Aug. 30,Sept. 27,Oct. 25Nov. 29Dec. 30

1951—Jan. 31Feb. 28,Mar. 28,Apr. 25,May 30,June 30.July 25,Aug. 29.Sept. 26.Oct. 31Nov. 28.Dec. 31.

14


SYSTEM, MONEY SUPPLY, AND RELATED DEPOSITS, 1941-60 — Continuedof dollars]

Money supply

Seasonally adjusted

Total

106,800107,600

109,300110,500

110,800110,600110,500109,500109,500109,600109,400109,600109,400109,900109,300109,000

109,000108,800108,800108,700108,800108,500108,800108,700108,300108,300108,500108,400

109,100109,200109,400110,300111,000111,300111,800112,600112,800113,100113,600114,600

114,200115,200115,100115,600115,600115,900116,800117,400117,800119,100120,400120,200

Cur-rency

outsiae

26,70026,300

26,20026,100

25,90025,80025,80025,60025,50025,50025,60025,50025,60025,60025,40025,300

25,30025,20025,30025,10025,10025,00024,90025,00024,80024,80024,80024,600

24,60024,80024,80024,80024,80024,70024,40024,50024,40024,60024,60024,600

24,70024,70024,60024,80024,80025,10025,20025,30025,30025,40025,50025,400

D e -mand

depositsad-

justed

80,10081,300

83,10084,400

84,90084,80084,70083,90084,00084,10083,80084,10083,80084,30083,90083,700

83,70083,60083,50083,60083,70083,50083,90083,70083,50083,50083,70083,800

84,50084,40084,60085,50086,20086,60087,40088,10088,40088,50089,00090,000

89,50090,50090,50090,80090,80090,80091,60092,10092,50093,70094,90094,800

Not seasonally adjusted

Total

45,52148,607

52,80662,868

71,85379,640

80 94690,435

94,150102*341

105,992110,044

108,485113,597

112,400110,300107,100108,100108,200108,335108,800109,400109,600110,800111,100111,599

110,500108,500106,100107,400107,400107,143108,000108,500108,000109,300110,100111,165

111,000109,200107,800108,900109,700110,225110,900111,900112,500113,800115,200117,670

116,200115,300113,400114,100114,400114,736115,800116,700117,400120,700122,100124,549

Cur-rency

outside

8,2049,615

10,93613,946

15,81418,837

20,88123,505

25,09726,490

26,51626,730

26,29926,476

25,80025,70025,60025,40025,40025,63825,50025,60025,70025,70025,90026,079

25,20025,10025,10024,90025,00025,26624,90025,10024,90024,90025,10025,415

24,50024,70024,60024,60024,70025,18524,40024,50024,50024,60024,90025,398

24,60024,60024,40024,60024,90025,77625,10025,30025,40025,70025,80026,315

D e -mand

depositsad-

justed

37,31738,992

41,87048,922

56,03960,803

60 06566,930

69,05375,851

79,47683,314

82,18687,121

86,60084,60081,50082,70082,80082,69783,30083,80083,90085,10085,20085,520

85,40083,40081,10082,40082,50081,87783,10083,40083,10084,30085,00085,750

86,40084,50083,20084,30085,00085,04086,50087,40088,00089,20090,30092,272

91,60090,60089,00089,50089,50088,96090,70091,40092,00095,00096,30098,234

Related deposits (not seasonally adjusted)

Time

Total

27,87927,729

27,32028,431

30,26032,748

35 72039,790

44 25348*452

51,82953,960

55,65556,411

56,50056,90056,90056,90056,90057,36057,30057,30057,30057,30057,00057,520

57,60057,80058,00058,10058,20058,48358,40058,40058,40058,40058,00058,616

58,70059,00059,30059,50059,50059,73959,40059,10059,00059,00058,70059,246

59,00059,00059,10059,20059,30059,94860,00060,30060,50060,90060,60061,450

Com-mercialbanks

15,92815,884

15,61016,352

17,54319,224

21,21724,074

27 17030,135

32,42933,808

34,83535,249

35,20035,50035,50035,50035,50035,78835,70035,70035,70035,70035,50035,804

35,80035,90036,00036,10036,10036,29236,20036,10036,10036,10035,80036,146

36,10036,30036,50036,60036,60036,71936,40036,20036,20036,20035,90036,314

36,10036,10036,20036,30036,30036,78136,80037,10037,20037,50037,30037,859

Mutualsavingsbanks

10,64810,532

10,39510,664

11,14111,738

12 47113,376

14 42615,385

16,28116,869

17,42817,746

17,90017,90018,00018,00018,10018,19418,20018,20018,30018,30018,20018,387

18,50018,60018,70018,70018,80018,93219,00019,00019,10019,10019,10019,273

19,40019,50019,70019,70019,80019,92319,90019,80019,90019,90019,80020,009

20,00020,00020,10020,20020,20020,38220,40020,50020,60020,70020,60020,887

PostalSavings

Sys-tem

1,3031,313

1,3151,415

1,5761,786

2,0322,340

2 6572,932

3,1193,283

3,3923,416

3,4003,4003,4003,4003,4003,3783,4003,4003,3003,3003,3003,329

3,3003,3003,3003,3003,3003,2593,3003,2003,2003,2003,2003,197

3,2003,2003,2003,2003,1003,0973,1003,0003,0003,0002,9002,923

2,9002,9002,8002,8002,8002,7852,8002,8002,7002,7002,7002,704

For-eign,net

1,9491,498

1,6241,615

1,9282,265

2,4332,157

2,3782,141

1,8941,885

1,6571,682

1,7001,8001,8001,6001,6001,7271,8001,8001,8001,8001,9002,103

2,2002,2002,1002,0001,8001,9271,9001,9001,9002,0002,1002,150

2,2002,2002,3002,4002,4002,5552,5002,4002,3002,5002,3002,518

2,4002,4002,4002,5002,5002,4242,4002,3002,2002,1002,1002,279

U.S

Treas-urycashhold-ings

2,2752,215

2,1872,191

2,2682,303

2,2962,375

2 2792,287

2,2512,272

1,3141,336

1,3001,3001,3001,3001,3001,3271,3001,3001,3001,3001,3001,325

,300,300

1,300,300,300

1,3071,3001,300,300,3001,3001,312

1,3001,3001,3001,3001,3001,2981,300

:

,300,300,300,300,293

,300,300,300,300,300,281,300,300,300,300,300

1,270

. Government

Atcom-mer-cialand

savingsbanks

7531,895

1,8378,402

8,04810,424

19 50620,763

24 38124,608

13,4163,103

1,3671,452

1,3001,8002,4002,5002,4002,1802,4002,4002,8002,3002,2002,451

2,0003,0003,4002,1001,9002,3041,5003,1003,7003,6003,2003,249

3,3004,2004,3003,2003,2003,8013,6003,8003,6003,1003,0002,989

2,8004,2006,4005,8004,8006,3324,6004,1005,1003,7003,8003,615

AtF.R.

banks

980867

290799

455579

650440

599977

833393

756870

1,9001,700>,0001,2001,8001,9281,8001,9001,7001,5001,7001,123

1,100,600,700

1,100700438400600

1,200400500821

500400

1,000800600950500700

1,100400600668

800500

1,100700600317400600800500500247

Date

. .June 30—1941

. .Dec. 31

. .June 30—1942

. .Dec. 31

. .June 30—1943

..Dec. 31

June 30—1944. .Dec. 30

. .June 30—1945'. .Dec. 31

..June 29-1946

. .Dec. 31

..June 30-1947

..Dec. 31

..Jan. 28-1948

..Feb. 25

..Mar. 31

. .Apr. 28

..May 26

..June 30

..July 28

..Aug. 25

..Sept. 29

..Oct. 27

..Nov. 24

. .Dec. 31

..Jan. 26-1949

..Feb. 23

..Mar. 30

. .Apr. 27

..May 25

..June 30

..July 27

. .Aug. 31

. . Sept. 28

..Oct. 26

..Nov. 30

..Dec. 31

..Jan. 25-1950

..Feb. 21

..Mar. 29

. .Apr. 26

..May 31

..June 30

..July 26

..Aug. 30

..Sept. 27

..Oct. 25

..Nov. 29

..Dec. 30

..Jan. 31-1951

..Feb. 28. Mar. 28.Apr. 25.May 30.June 30.July 25.Aug. 29.Sept. 26.Oct. 31.Nov. 28.Dec. 31

15



DateGold

22,90023,10023,30023,30023,30023,34623,40023,30023,30023,30023,30023,187

23,00022,70022,60022,60022,50022,46322,30022,20022,10022,10022,00022,030

22,00022,00022,00022,00022,00021,92721,90021,90021,80021,80021,70021,713

21,70021,70021,70021,70021,70021,67821,70021,70021,70021,70021,70021,690

21,70021,70021,70021,70021,80021,79921,80021,90021,90021,90021,90021,949

22,30022,30022,30022,30022,60022,60022,60022,60022,60022,70022,80022,781

Treas-urycur-rencyout-stand-ing

4,7004,7004,7004,7004,7004,7544,8004,8004,8004,8004,8004,812

4,8004,8004,8004,8004,8004,8544,9004,9004,9004,9004,9004,894

4,9004,9004,9004,9005,0004,9595,0005,0005,0005,0005,0004,985

5,0005,0005,0005,0005,0005,0025,0005,0005,0005,0005,0005,008

5,0005,0005,0005,0005,0005,0325,0005,0005,0005,1005,1005,066

5,1005,1005,1005,1005,1005,1005,1005,1005,1005,1005,1005,146

Total

179,900179,300180,100179,900180,600182,980185,300185,300186,500188,900191,500192,866

191,200190,300190,200189,000188,900190,277195,500195,400195,900196,700198,200199,791

198,000197,300196,100197,200198,800200,628200,600202,500204,000207,700209,700210,988

209,600208,200207,000209,100209,100209,872211,400211,100211,900214,000214,400217,437

214,200213,100214,900214,900214,700216,563214,900217,000218,000218,900220,800223,742

219,300218,100219,000221,700221,600222,200222,700223,200223,600225,200224,800229,470

Loans,net

66,70067,00067,70068,10068,50069,71270,00070,50071,60072,90074,30075,484

74,90075,00076,00076,50076,60077,07177,40077,70078,40079,10079,50080,486

79,10079,30080,30079,90080,10081,21080,80080,20081,40081,90083,90085,730

85,20085,80087,10087,90089,00091,34992,00093,20094,60095,80097,800100,031

98,90099,400101,600102,500103,300105,420104,900105,500106,700107,300108,200110,120

108,000108,200109,600110,400110,700113,000112,200112,700113,400113,000113,000115,157

Assets

Bank credit

U.S.

Total

97,30096,20096,10095,20095,30096,26698,10097,30097,60098,60099,900100,008

98,80097,80096,40094,70094,40095,350100,20099,60099,30099,500100,400100,935

100,40099,10096,80098,20099,40099,827100,000102,300102,400105,600105,600104,819

103,600101,40098,700100,10099,30097,57298,60096,90096,40097,30096,00096,736

94,80093,00092,60091,70091,00090,51189,70090,90090,50091,00092,20093,161

90,80089,40088,50090,20089,60087,80089,00088,90088,40089,70089,40091,370


Com-mercialand

savingsbanks

71,80071,10070,90070,20070,50070,78372,70071,70071,30072,40073,60072,740

72,30071,40070,00068,40067,80068,10872,70072,10071,60071,70073,00072,610

73,40072,20069,80071,20072,40072,52573,30076,20076,20079,00078,90077,728

77,80075,60073,00074,40073,70071,94772,40071,20070,70071,40069,80070,052

69,40067,60067,10066,60065,70064,91764,50065,40065,20065,50066,20066,523

65,70064,80063,80065,40065,00063,40064,10064,00063,70065,00064,50065,792

FederalReserveBanks

22,80022,60022,50022,40022,30022,90622,80023,10023,70023,60023,80024,697

24,00023,90023,90023,80024,10024,74625,00025,00025,20025,30025,00025,916

24,70024,60024,60024,60024,70025,03724,50023,90024,00024,40024,60024,932

23,70023,70023,60023,60023,50023,60724,10023,80023,70024,00024,30024,785

23,50023,50023,60023,30023,40023,75823,40023,70023,60023,80024,30024,915

23,40022,90023,10023,20023,00022,90023,40023,30023,20023,20023,60024,238

Other

2,7002,6002,6002,6002,6002,5772,6002,6002,6002,6002,6002,571

2,6002,5002,5002,5002,5002,4962,5002,5002,5002,4002,4002,409

2,4002,4002,3002,3002,3002,2652,2002,2002,2002,2002,2002,159

2,1002,1002,1002,1002,0002,0182,0002,0002,0001,9001,9001,899

1,9001,9001,9001,9001,900[,8361,8001,8001,8001,8001,7001,723

1,7001,7001,700[,6001,6001,6001,5001,5001,5001,5001,4001,340

Othersecu-rities

15,90016,10016,40016,60016,80017,00217,20017,50017,40017,30017,30017,374

17,50017,50017,80017,80017,80017,85618,00018,20018,20018,20018,20018,370

18,50018,90019,00019,20019,30019,59119,80019,90020,20020,30020,30020,439

20,90021,00021,20021,20020,90020,95120,90020,90020,90020,80020,60020,670

20,60020,70020,70020,70020,50020,63220,40020,60020,80020,50020,40020,461

20,40020,60020,90021,10021,40021,40021,40021,60021,80022,50022,40022,943

Totalassets,net—Totalliabil-itiesand

capital,net

207,600207,200208,200207,900208,700211,080213,400213,400214,600217,000219,600220,865

219,000217,800217,600216,400216,200217,594222,700222,500222,900223,700225,100226,715

224,900224,100223,000224,100225,800227,514227,500229,300230,800234,400236,400237,686

236,300234,900233,700235,800235,800236,552238,100237,800238,600240,700241,100244,135

240,900239,800241,700241,700241,500243,394241,800243,900244,900245,800247,800250,757

246,600245,500246,400249,200249,400249,900250,400250,900251,300253,000252,700257,397


Totaldepositsand

currency

191,600191,500192,300192,200192,900194,960197,200197,000197,900199,900202,700204,220

202,100201,000200,600199,100199,100200,360205,100204,800204,900205,500207,100209,175

207,100206,200205,100206,200207,600209,354209,100210,500211,800215,400217,200218,882

217,500216,000214,500216,900216,600217,595218,800218,200218,800220,700221,200224,943

221,000219,900221,600221,200221,200223,585221,400223,000224,000224,800227,000230,510

226,400225,100225,400228,200228,200229,100229,300229,000229,500231,100231,000236,372

Capitalandmisc.ac-

counts,net

15,90015,70015,90015,70015,80016,12016,10016,40016,70017,10016,90016,647

16,90016,80017,00017,30017,20017,23417,60017,70018,00018,10018,00017,538

17,80017,90017,80017,90018,20018,16118,40018,80019,00019,10019,20018,806

18,80018,90019,10018,90019,20018,95619,30019,60019,80020,00019,90019,193

19,90020,00020,10020,50020,30019,80720,40020,90020,90021,00020,70020,246

20,30020,50020,90020,90021,20020,90021,10021,90021,90021,90021,70021,023

1952—Jan. 30Feb. 27Mar. 26Apr. 30May 28June 30July 30Aug. 27Sept. 24Oct. 29Nov. 26Dec. 31

1953_Jan. 28Feb. 25Mar. 25Apr. 29May 27June 30July 29Aug. 26Sept. 30Oct. 28Nov. 25Dec. 31



1956—Jan. 25Feb. 29Mar. 28,Apr. 25.May 30,June 30.July 25.Aug. 29.Sept. 26,Oct. 31Nov. 28,Dec. 31.

1957_Jan. 30.Feb. 27.Mar. 27.Apr. 24.May 29.June 26.July 31.Aug. 28.Sept. 25.Oct. 30.Nov. 27.Dec. 31.

16



Money supply

Seasonally adjusted

Total

121,100121,300121,900122,000122,900123,300123,000123,500123,900124,100125,000124,100

124,900125,200125,700126,000126,100125,800125,700126,200126,100126,900126,300126,600

126,500126,500126,700126,300127,100126,900127,900127,700129,000129,200129,600130,000

131,100131,300131,500131,700132,100132,100132,000132,600133,200132,800133,100133,500

133,200132,900133,500133,600133,300134,200133,200133,400133,900133,600134,500134,500

134,800134,700134,500134,600134,200135,100135,000134,300134,300133,800133,600133,600

Cur-rencyoutsidebanks

25,70025,70025,90026,10026,20026,10026,30026,30026,50026,60026,80027,000

26,90027,00027,10027,20027,20027,20027,30027,30027,40027,40027,30027,300

27,00027,00027,10026,90027,00026,90026,90026,90026,80026,90026,80026,900

27,00026,90026,90026,90027,00027,00027,10027,20027,20027,30027,50027,400

27,30027,40027,40027,20027,30027,50027,40027,40027,40027,50027,50027,400

27,60027,60027,60027,60027,80027,80027,80027,70027,80027,70027,70027,800

De-mand

depositsad-

justed

95,40095,60096,00095,90096,70097,20096,70097,20097,40097,50098,20097,100

98,00098,20098,60098,80098,90098,60098,40098,90098,70099,50099,00099,300

99,50099,50099,60099,400100,100100,000101,000100,800102,200102,300102,800103,100

104,100104,400104,600104,800105,100105,100104,900105,400106,000105,500105,600106,100

105,900105,500106,100106,400106,000106,700105,800106,000106,500106,100107,000107,100

107,200107,100106,900107,000106,400107,300107,200106,600106,500106,100105,900105,800


Total

123,500121,400120,500121,100121,300121,228121,900122,100122,900125,300126,800129,002

127,300125,200124,200125,000124,500124,267124,600124,800125,100127,600128,100130,542

129,200126,400123,600125,300125,500125,225126,800126,300128,100130,000131,400134,402

133,800131,300129,100131,100130,200130,609131,000131,200132,100133,500134,800138,199

136,000132,800131,500133,100131,600133,028132,700131,900132,800135,100136,300139,726

136,900134,400132,600134,700132,700133,300134,300132,900133,300134,900135,700138,555

Cur-rencyoutsidebanks

25,60025,60025,70025,90026,00026,47426,20026,30026,60026,70027,40027,494

26,80026,90026,90027,00027,00027,36927,20027,30027,50027,40027,90028,091

26,90026,90026,90026,70026,80027,09326,80026,90026,90026,90027,50027,852

26,80026,80026,70026,70026,80027,37527,10027,30027,20027,30027,90028,285

27,10027,20027,20027,00027,40028,28427,40027,50027,40027,70028,00028,335

27,40027,40027,40027,40027,90027,80027,80027,80027,80027,80028,50028,301

De-mand

depositsad-

justed

97,90095,70094,80095,10095,30094,75495,70095,80096,40098,60099,400101,508

100,50098,30097,40098,00097,50096,89897,40097,50097,700100,300100,200102,451

102,30099,60096,70098,60098,70098,132100,00099,400101,200103,100104,000106,550

107,000104,500102,400104,500103,300103,234103,900103,900104,900106,100106,900109,914

108,900105,600104,400106,100104,200104,744105,200104,500105,400107,400108,300111,391

109,500107,000105,200107,300104,800105,600106,600105,100105,500107,200107,200110,254


Time

Total

61,70062,00062,40062,70063,00063,67663,80064,10064,50064,90064,80065,799

66,10066,40066,80067,20067,60068,29368,40068,70069,10069,60069,30070,375

70,60071,00071,70072,00072,50073,29273,70074,00074,40074,80074,30075,282

75,40075,70076,20076,20076,50077,12977,10077,40077,70077,90077,40078,378

78,40078,80079,30079,30079,60080,61580,70080,90081,30081,50080,90082,224

82,90083,60084,60084,90085,70086,40086,70087,10087,70088,10087,60089,126

Com-merciabanks

38,00038,20038,50038,60038,90039,30239,40039,60039,80040,10040,00040,666

40,70041,00041,20041,50041,70042,24542,30042,50042,80043,20042,90043,659

43,70044,00044,50044,70045,00045,65346,00046,20046,40046,70046,30046,844

46,80047,00047,20047,20047,40047,84647,70048,00048,10048,20047,70048,359

48,30048,50048,80048,80049,00049,69849,70049,90050,10050,20049,60050,577

51,20051,80052,60052,90053,60054,00054,40054,70055,10055,50055,00056,139

Mutuasavingsbanks

21,00021,10021,30021,40021,60021,75521,90022,00022,20022,20022,30022,586

22,80022,90023,10023,30023,40023,58923,70023,80024,00024,10024,00024,358

24,60024,70024,90025,00025,20025,38825,50025,60025,80025,90025,90026,302

26,50026,60026,90026,90027,10027,27727,40027,50027,70027,80027,80028,129

28,30028,40028,60028,70028,90029,15229,20029,30029,50029,60029,60030,000

30,10030,20030,40030,40030,60030,90030,90031,00031,20031,30031,30031,662

PostalSavingsSys-tem

2,7002,7002,7002,7002,6002,6192,6002,6002,6002,6002,6002,547

2,5002,5002,5002,5002,5002,4592,4002,4002,4002,4002,4002,359

2,3002,3002,3002,3002,3002,2512,2002,2002,2002,2002,2002,136

2,1002,1002,1002,1002,0002,0072,0002,0001,9001,9001,9001,890

1,900,800,800,800,800,765,7001,700,7001,7001,7001,647

1,6001,6001,6001,5001,5001,5001,4001,4001,4001,4001,3001,325

For-eign,net

2,1002,2002,2002,2002,3002,3192,6002,6002,5002,5002,5002,501

2,5002,3002,4002,4002,4002,4672,5002,4002,5002,6002,7002,694

2,8002,9003,0003,1003,1003,2563,4003,4003,3003,2003,2003,329

3,2003,1003,2003,1003,2003,2473,3003,1003,2003,2003,2003,167

3,1003,0003,0003,0003,0003,1153,1003,1003,2003,1003,4003,306

3,1003,1003,1003,2003,2003,4003,3003,2003,3003,3003,2003,270

u.s


1,3001,3001,3001,3001,3001,2831,300[,3001,3001,3001,3001,270

1,300,3001,3001,3001,3001,2591,3001,3001,3001,300800761

800800800800800811800800800800800796

800800800800800812800800800800800767

800800800800800768800800800800800775

800800800800800800800800800800800761

. Government

Atcom-mer-cialand

savingsbanks

2,8003,9005,8004,5004,4006,1217,0006,2006,5005,3007,0005,259

4,2005,4005,8002,9002,9003,9427,5007,0006,2003,8005,7004,457

3,4004,5005,4004,5005,1005,8953,9005,5004,4006,1006,9004,510

3,8004,6004,4005,0005,5005,4186,1005,2004,5004,9004,5004,038

2,3004,0006,5004,4005,8005,5373,6005,8005,4003,8005,2004,038

1,9002,8003,8004,4005,3004,8003,7004,4003,9003,5003,3004,179

AtF.R.banks

200700(5)500600333600700300600300389

700400(5)400400132800700600600500346

200500700500500875500600800600500563

400600900600400380500400500500500394

500600500600400522600500600500500441

600300500300500500500500600500400481

Date

..Jan. 30-1952

..Feb. 27

..Mar. 26

. .Apr. 30

..May 28

..June 30

..July 30

. .Aug. 27

..Sept. 24

..Oct. 29

..Nov. 26

. .Dec. 31

..Jan. 28-1953

..Feb. 25

..Mar. 25

..Apr. 29

..May 27

. .June 30

..July 29

. .Aug. 26

..Sept. 30

..Oct. 28

..Nov. 25

. .Dec. 31

..Jan. 27-1954

..Feb. 24

..Mar. 31

. .Apr. 28

..May 26

..June 30

..July 28

. .Aug. 25

..Sept. 29

..Oct. 27

..Nov. 24

..Dec. 31

..Jan. 26-1955

..Feb. 23

..Mar. 30

. .Apr. 27

..May 25

..June 30

..July 27

..Aug. 31

.. Sept. 28

..Oct. 26

..Nov. 30

. .Dec. 31

..Jan. 25-1956

..Feb. 29

..Mar. 28

. .Apr. 25

..May 30

..June 30

..July 25

. .Aug. 29

..Sept. 26

..Oct. 31

..Nov. 28

..Dec. 31

..Jan .30-1957

..Feb. 27

..Mar. 27

..Apr. 24

..May 29

. .June 26

..July 31

..Aug. 28

..Sept. 25

..Oct. 30

..Nov. 27

. .Dec. 31

17



DateGold

22,80022,70022,50022,00021,60021,35621,20021,10020,90020,70020,60020,534

20,50020,50020,40020,30020,20019,80019,60019,60019,50019,50019,60019,456

19,50019,40019,40019,40019,40019,30019,20019,00018,70018,50017,90017,767

Treas-urycur-

rencyout-

stand-ing

5,2005,2005,2005,2005,2005,2045,2005,2005,2005,2005,2005,234

5,2005,2005,2005,3005,3005,3005,3005,3005,3005,3005,3005,311

5,3005,3005,3005,3005,4005,4005,4005,4005,4005,4005,4005,398

Total

225,600226,700230,000234,400234,900240,451238,600241,100240,400243,300246,200249,082

247,300245,300244,900247,900248,300248,500250,700251,200252,100251,800251,400255,435

250,200248,300247,600250,800250,700252,500254,700255,100258,300260,900261,700266,782

Loans,net

112,500112,700113,900114,400114,000116,842115,400115,300115,900117,000118,200121,602

119,800119,800121,400123,500124,800126,900128,400129,800131,600131,500132,300135,867

133,000133,400134,600136,200136,800139,100138,200138,700140,800140,200140,900144,704

Assets

Bank credit

U.S.

Total

89,90090,50091,90095,30095,90097,84997,800

100,00098,200

100,100102,000101,207

101,50099,40097,20097,80097,10095,20096,00095,20094,10094,00093,10093,497

91,30089,20087,30089,00088,50087,90090,80090,80091,80094,60094,90095,461


Com-mercial

andsavingsbanks

65,20065,80067,10070,30070,60071,61171,60073,50072,10073,50075,00073,641

74,90072,90070,60071,00070,00068,20068,40067,60066,50066,60065,40065,801

64,80063,00061,10062,60061,80060,80063,20063,10064,20066,80066,60067,242

FederalReserveBanks

23,40023,40023,50023,70024,10025,00024,90025,20024,90025,40025,80026,347

25,40025,30025,50025,60025,90025,90026,50026,50026,60026,40026,70026,648

25,40025,20025,30025,50025,70026,20026,70026,80026,80027,00027,50027,384

Other

[,3001,3001,3001,3001,300[,2381,3001,300[,2001,2001,2001,219

1,2001,2001,1001,2001,2001,200,100,100,100,100[,1001,048

1,0001,0001,0001,0001,000

900900900900900800835

Othersecu-rities

23,10023,50024,30024,80025,00025,76025,50025,80026,30026,20026,00026,273

26,00026,10026,30026,60026,40026,30026,30026,20026,50026,20025,90026,071

25,80025,70025,70025,60025,40025,50025,70025,60025,70026,00025,90026,617

Totalassets,net—Totalliabil-itiesand

capital,net

253,500254,600257,700261,600261,700267,011265,100267,400266,500269,200272,000274,850

273,100271,000270,600273,500273,700273,600275,700276,100276,900276,600276,300280,202

274,900273,000272,400275,600275,400277,200279,200279,500282,400284,700285,000289,947


Totaldeposits

andcurrency

231,800232,500235,500239,200238,900244,131241,900243,400242,600245,100248,200252,022

249,600247,100246,700249,800249,400249,400251,400251,100252,100251,700251,100256,020

250,500248,000247,300250,200249,300251,000252,900252,200255,100257,500257,000263,165

Capitaland

misc.ac-

counts,net

21,80022,10022,20022,50022,80022,88023,20024,10023,90024,10023,80022,829

23,50023,90023,90023,70024,30024,20024,20025,00024,80024,90025,20024,186

24,40025,00025,10025,30026,00026,20026,30027,30027,30027,20028,00026,783


1959—Jan. 28Feb. 25Mar. 25Apr. 29May 27June 24July 29Aug. 26Sept. 30Oct. 28Nov. 25,Dec. 31

I960—Jan. 27Feb. 24Mar. 30,Apr. 27May 25June 29July 27Aug. 31Sept. 28Oct. 26Nov. 30Dec. 31

18



Money supply

Seasonally adjusted

Total

133,100133,600134,000134,800135,300135,300136,100136,700136,900137,900138,600138,800

139,500139,600140,300140,400140,600140,900141,200140,900140,800140,400140,100140,200

140,000139,100139,500139,400137,500138,000138,600138,600138,500139,900138,800139,200

furcur-rencyoutside

27,70027,70027,70027,90027,90027,80027,80027,80027,80027,90028,00028,100

28,00028,00028,20028,20028,20028,30028,30028,30028,40028,40028,30028,200

28,30028,30028,40028,20028,20028,10028,30028,30028,20028,40028,20028,200

De-mand

depositsad-

justed

105,400105,900106,300106,900107,400107,500108,300108,900109,100110,000110,600110,700

111,500111,600112,100112,200112,400112,600112,900112,600112,400112,000111,800112,000

111,700110,800111,100111,200109,300109,900110,300110,300110,300111,500110,600111,000


Total

135,000133,000132,000134,800133,500133,959135,900135,500135,900139,000140,700144,247

141,400139,000138,200140,400138,900139,100141,100139,600139,800141,100142,200144,824

141,900138,400136,800139,400135,800136,200138,400137,500137,600140,500140,600144,458

cur-rencyoutside

27,30027,40027,40027,60027,80027,79027,90028,00027,90028,00028,80028,740

27,60027,70027,90027,90028,10028,30028,40028,50028,50028,30029,10029,422

27,90028,00028,10027,90028,10028,30028,40028,50028,30028,30028,70029,356

De-mand

depositsad-

justed

107,600105,600104,600107,200105,800106,169108,100107,500108,100111,000111,900115,507

113,800111,300110,300112,500110,700110,700112,700111,100111,400112,700113,100115,402

114,000110,500108,800111,500107,700107,800110,100108,900109,300112,200111,900115,102


Time

Total

89,80090,90092,50093,60094,60095,52496,50097,00097,20097,50096,80098,306

98,40098,70099,50099,900100,400101,000100,900101,200101,500101,100100,300101,779

101,000101,200102,200102,300102,600103,700104,200105,200106,000106,700106,700108,468

Com-mercialbanks

56,60057,60058,80059,90060,70061,47362,30062,70062,70062,90062,10063,166

63,40063,70064,10064,50065,00065,40065,30065,60065,70065,50064,80065,884

65,20065,40066,00066,20066,50067,40067,90068,90069,40070,00070,00071,380

Mutualsavingsbanks

31,90032,10032,40032,50032,70032,83732,90033,10033,30033,40033,50034,006

33,80034,00034,30034,30034,40034,60034,50034,60034,80034,60034,60034,947

34,90034,90035,30035,20035,20035,40035,50035,60035,80035,90035,90036,318

PostalSavingsSys-tem

1,3001,3001,3001,2001,2001,2141,2001,2001,2001,2001,1001,134

1,1001,1001,1001,1001,1001,1001,0001,0001,0001,0001,000948

900900900900900800800800800800800770

For-eign,net

3,3003,7003,9004,0004,0003,9534,0003,9003,8003,8003,7003,870

3,8003,7003,9003,7003,7003,6003,4003,3003,3003,1003,0003,203

2,8002,6002,7002,8002,8002,9002,8003,0002,9003,1003,1003,184

u.s


800700700700700700700700700700700683

700700700700700400400400400400400391

400500400400400400400400400400400377

. Government

Atcom-mer-cialand

savingsbanks

2,4003,8005,8005,4005,7009,4714,3005,8004,5003,7005,9004,558

4,8004,5003,9004,6005,2004,7005,0006,0006,4005,5004,7005,319

3,8004,8004,7004,7007,2007,3006,5005,7007,7006,2005,6006,193

AtF.R.banks

500400600600400524600500500500500358

500500500500500500600500700500400504

600500500600500500500500600500500485

Date

..Jan. 29-1958

..Feb. 26

..Mar. 26

..Apr. 30

..May 28

..June 23

..July 30

. .Aug. 27

..Sept. 24

..Oct. 29

..Nov. 26

..Dec. 31

..Jan. 28-1959

..Feb. 25

..Mar. 25

..Apr. 29

..May 27

..June 24

..July 29

. .Aug. 26

..Sept. 30

..Oct. 28

..Nov. 25

. .Dec. 31

..Jan. 27-1960

..Feb. 24

..Mar. 30

. .Apr. 27

..May 25

..June 29

..July 27

..Aug. 31

..Sept. 28

..Oct. 26

..Nov. 30

. .Dec. 31

19


2. MONEY SUPPLY AND RELATED DATA, 1947-60[Averages of daily figures; in billions of dollars]

Period

19471948 . . .1949

195019511952...19531954

1955. .1956195719581959

I960

1947—JanFeb . .MarAprM a yJuneJulyAugSeDtOctN o vDec

1948—JanFebMarAprMayJuneJulyAugSeptOct . . .NovDec

1949_janFebMarA p rMayJuneJulvAugSeptOctN o vDec

1950—Jan..FebM a rAprM a yJuneJuly. . .A u gSeptOctN o vDec

1951—jan

FebM a rAprM a yJuneJulyA u sSept . . . .OctNovD e c

Seasonally adjusted

Money supply

Total

109.5109.7110.3111 1111.7112 1112.2112 6113.0112.9113.3113.1

113 4113.2112.6112.3112.1112 0112.2112 3112.2112.1111 8111.5

111.2111 2111.2111.3111.5111 3111.2111 0110.9110.9111.0111.2

111 5112.1112.5113.2113.7114.11146115.0115 2115.7115.9116.2

116.7117 1117.6117.8118.2118.6119 1119.6120.4121 0122.0122.7

Currencycompo-

nent

26.726.726.726 626.626.626.526 526.726.526.526.4

26.426.326.226.126.026.026.026.026.026.026 025.8

25.725.725.725.725.725.625.525 525.325 325.225.1

25 125.125.225.325.225.125 024.924 924.924.925.0

25.025 125.225.225.325.425 625.725 826 026.026.1

Demanddepositcompo-

nent

82.883.083.784.585.185.585.786.186.386.486.886.7

87.086.886.486.386.086 086.286.286.286.185 985.8

85.585.585.685.685.885.785.785.685.685.685.886.0

86 486.987.388.088.589.089 690.190.390.890.991.2

91.792.092.492.692.893.293 493.894.595 196.096.5

Coml.banktime

deposits,adjusted

33.233.433.633.733.833.934.034.434.735.035.235.4

35.535.635.735.735.735.835.835.935.936.036.036.0

36.036.136.136.236.336.436.436.536.436.436.436.4

36.436.536.636.836.936.936.836.736.636.636.636.7

36.736.636.636.736.736.837.237.437.737.838.038.2


Money supply

Total

111.8112.3111.2

114.1119.2125.2128.3130.3

134.4136.0136.7138.4142.8

140.9

111.9109.8109.4109.1109.8110.9111.4111.9113.3113.6114.5115.9

115.9113.4111.8110.4110.2110.8111.3111.6112.4112.8112.9114.3

113.7111.5110.5109.5109.7110.2110.2110.3110.9111.5112.0113.9

114.0112.4111.8111.5111.9112.9113.5114.2115.1116.3117.0119.2

119.5117.5117.4116.0116.4117.6117.5118.4120.0121 4123.2125.8

Currencycompo-

nent

26.626.125.5

25.125.626.727.727.5

27.628.028.328.428.9

29.0

26.726.526.526.426.426.426.426.426.826.726.726.8

26.426.226.125.925.825.926.026.026.126.226.226.2

25.725.525.525.525.525.425.525.425.425.525.425.5

25.125.025.125.125.024.925.024.925.025.125.225.4

25.025.025.025.025.125.325.625.725.926.126.326.6

Demanddepositcompo-

nent

85.286.285.7

89.193.798.5

100.6102.8

106.8108.0108.5110.0113.9

111.9

85.283.382.982 783.484.584.985 586.586.987.889.1

89.587.285.784.584.485.085.385.686.286.686 888.1

88.085.984.984.084.284.884.784.985.586.086.688.4

88 987.486.886.486.988.088.589.390.191.291.893.8

94.592.592.391.091.292.491.992.794.195.297.099.2

Commercial bankdeposits

Time,adjusted

34.235.836.3

36.737.239.742.846.9

49.350.855.162.866.8

69.1

33.233.433.733.833.934.034.234.434.735.035.135.1

35.535.635.835.835.835.936.035.935.936.035.935.7

36.036.136.236.336.436.536.536.536.436.436.336.1

36.436.536.736.836.937.036.936.736.636.636.536.4

36.736.636.736.736.736.937.337.537.737.938.038.0

U.S.Govt.

demand

2.02.12.5

3.14.04.84.44.4

4.1393.54.34.6

5.3

2.63.33.62 92.31.01.01 41.62.21.61.0

0.91.72.12.32.72.22.02.52.42.32 41.8

1.62.73.02.61.91.51.42.83.23.43.52.8

2.83.73.53.33.03.03.43.43.42.83.02.4

2.13.34.56.15.14.64.84.23.63.93.12.7

20


2. MONEY SUPPLY AND RELATED DATA, 1947-60 — Continued[Averages of daily figures; in billions of dollars]

Period

Seasonally adjusted

Money supply

TotalCurrencycompo-

nent

Demanddepositcompo-

nent

Coml.banktime

deposits,adjusted


Money supply

TotalCurrencycompo-

nent

Demanddepositcompo-

nent


Time,adjusted

U.S.Govt.

demand

1952—Jan..Feb..Mar.Apr..May.June.July.Aug.Sept.Oct..Nov.Dec..

1953—Jan..Feb..Mar.Apr..May.June.July.Aug.Sept.Oct..Nov.Dec.

1954_ja n . .Feb..Mar.Apr..May.June.July.Aug.Sept.Oct..Nov.Dec.

1955—Jan..Feb..Mar.

M^y!June.July.Aug.Sept.Oct..Nov.Dec.

1956—Jan..Feb..Mar.Apr..May.June.July.Aug.Sept.Oct..Nov.Dec.

1957_Jan..Feb..Mar.Apr..May.June.July.Aug.Sept.Oct..Nov.Dec.

123.1123.6123.8124.1124.5125.0125.3125.7126.4126.7127.1127.4

127.3127.4128.0128.3128.5128.5128.6128.7128.6128.7128.7128.8

129.0129.1129.2128.6129.7129.9130.3130.7130.9131.5132.1132.3

133.0133.8133.6134.1134.5134.4134.8134.8135.0135.2134.9135.2

135.5135.5135.9136.2135.7136.0135.9135.8136.1136.2136.6136.9

136.9137.0137.1136.9137.0136.9137.0136.9136.7136.4136.1135.9

26.226.326.426.426.526.726.726.826.927.027.227.3

27.427.527.627.727.727.727.827.827.827.827.827.7

27.727.727.627.627.627.527.527.527.427.427.427.4

27.427.527.527.527.627.627.727.727.727.827.827.8

27.927.927.927.927.927.928.028.028.028.028.128.2

28.228.228.228.228.228.328.328.328.328.328.328.3

96.997.397.597.698.098.498.698.999.499.799.9

100.1

99.999.9

100.4100.7100.7100.7100.8100.9100.8100.9100.9101.1

101.3101.5101.6101.0102.1102.3102.8103.2103.5104.1104.7104.9

105.5106.3106.1106.5106.9106.8107.2107.1107.3107.4107.1107.4

107.7107.6108.0108.3107.8108.1107.9107.8108.1108.2108.4108.7

108.7108.8108.9108.7108.8108.6108.7108.7108.4108.1107.8107.5

38.438.738.939.139.339.539.740.040.340.540.841.2

41.441.641.942.142.442.642.943.143.443.844.244.6

44.945.245.646.146.546.847.347.747.948.148.248.4

48.748.848.848.949.049.149.249.349.549.750.050.2

50.050.050.150.250.350.650.851.151.451.651.852.1

52.653.153.7,54.154.554.855.355.656.056.656.957.5

126.2124.2123.6122.3122.7124.2123.6124.2125.8126.9128.3130.8

130.5128.1127.7126.7126.7127.6127.0127.0127.9128.8129.9132.1

132.3129.8128.9127.2128.1129.0128.8129.0130.1131.5133.1135.6

136.4134.5133.1132.8132.7133.5133.4133.0134.2135.1135.9138.6

139.1136.0135.2135.1134.0135.1134.5134.0135.4136.2137.5140.3

140.3137.3136.1136.1135.2135.9135.6135.6136.1136.4137.2139.3

26.226.126.226.226.326.526.726.827.027.227.527.8

27.427.327.427.427.527.627.827.827.927.928.028.2

27.727.527.427.427.427.427.527.427.527.627.727.9

27.427.227.327.327.427.527.727.727.827.928.128.4

27.927.627.727.727.727.828.128.028.128.228.428.8

28.227.927.928.028.028.228.428.328.428.428.628.9

100.098.097.496.196.497.796.997.498.999.7

100.9103.0

103.1100.8100.399.399.2

100.199.299.2

100.0100.9101.8103.9

104.6102.3101.499.8

100.7101.6101.3101.5102.6103.9105.4107.7

109.0107.3105.8105.5105.4106.1105.7105.3106.4107.2107.7110.2

111.2108.4107.5107.5106.3107.3106.5106.0107.3108.0109.1111.5

112.1109.3108.2108.1107.2107.7107.2107.2107.7107.9108.6110.4

38.438.638.939.139.339.639.940.140.340.640.840.9

41.441.641.942.142.342.743.043.243.544.044.144.2

44.845.245.646.046.446.947.547.948.048.248.148.0

48.548.648.848.949.049.249.449.549.749.949.849.6

49.849.850.150.350.450.851.251.451.651.851.551.4

52.352.953.754.254.655.255.655.956.356.756.556.7

2.23.33.94.54.34.37.66.35.25.45.24.9

3.74.64.43.72.82.65.26.85.64.24.93.8

3.03.74.04.03.93.94.24.94.06.16.25.0

3.03.73.84.94.94.04.64.93.94.54.33.4

2.22.74.14.15.14.23.94.44.43.94.23.4

2.01.93.04.44.14.04.93.13.54.23.03.5

21


2. MONEY SUPPLY AND RELATED DATA, 1947-60 — Continued[Averages of daily figures; in billions of dollars]

Period

1958—JanFebMarAprMayJuneJulyAugSeptOctNovDec

1959—JanFeb . . . .MarAprMayJune . .Julv

Sept . . . .OctNovDec

I960 JanFebMar . .AprMayJuneJulvAugSent .OctNovDec

Seasonally adjusted

Money supply

Total

135.6136.3136.5137.0137.5138.5138.4139.1139.5140.0140.8141.2

141.6142.0142.5142.6143.2143.4144.0143.5143.2142.9142.7142.0

141.8141.4141.0140.8140.4140.0140.3140.8140.9141.0140.8141.2

Currencycompo-

nent

28.328.228.228.228.328.428.428.428.428.528.528.6

28.628.728.828.828.929.029.029.029.028.928.928.9

29.029.029.029.029.029.029.029.029.029.029.028.9

Demanddepositcompo-

nent

107.3108.0108.2108.8109.2110.1110.0110.6111.0111.6112.3112.6

113.0113.2113.7113.9114.3114.4115.0114.4114.2113.9113.8113.2

112.8112.4112.0111.8111.4111.1111.3111.9112.0112.0111.8112.2

Coml.banktime

deposits,adjusted

57.659.360.561.562.463.264.064.464.764.865.165.5

66.166.066.266.566.867.067.067.067.267.267.367.4

67.366.967.167.367.667.968.769.670.371.272.072.7


Money supply

Total

138.8136.4135.4136.4135.7137.4137.0137.8138.9140.0142.0144.7

144.9142.0141.3142 3141.1141.9142.7142.2142.7143.0144.0145.6

145.0141.2139.7140.7138.4138.6139.1139.6140.5141.3142.1144.7

Currencycompo-

nent

28.227.927.928.028.128.328.528.528.528.628.829.2

28.628.428.528.528.728.929.129.129.129.029.229.5

28.928.628.728.828.828.929.129.129.129.129.329.6

Demanddepositcompo-

nent

110.6108.5107.4108.4107.6109.1108.5109.2110.4111.5113.2115.5

116.3113.6112.8113.8112.5113.0113.5113.0113.6113.9114.8116.1

116.1112.6111.0111.9109.6109.7109.9110.5111.4112.2112.8115.2


Time,adjusted

57.259.160.561.762.663.564.464.865.065.064.664.6

65.665.866.266 767.067.467.567.467.567.466.866.6

66.866.667.067.567.868.369.170.070.771.471.572.1

U.S.Govt.

demand

2.32.54.34.25.56.06.05.34.04.23.93.9

3.24.33.74.65.24.04.95.15.24.94.74.9

4.14.14.33.66.46.36.76.15.45.65.84.7

22


PRINCIPAL ASSETS, LIABILITIES, AND NUMBER OF BANKSA. COMMERCIAL AND MUTUAL SAVINGS BANKS, 1941-60

[Single-date figures; amounts in millions of dollars]

Date

1941__june 30..Dec. 31..

1942—June 30..Dec. 31..

1943__june 30..Dec. 31..

1944__june 30..Dec. 30..

1945_j u n e 30..Dec. 31..

1946_JUne29..Dec. 31..

1947—June 30..Dec. 31..

1948—Jan. 28..Feb. 25..Mar. 31..Apr. 28..May 26..June 30..July 28..Aug. 25..Sept. 29..Oct. 27..Nov. 24..Dec. 31..

1949_Jan. 26..Feb. 23..Mar. 30..Apr. 27..May 25..June 30..July 27..Aug. 31..Sept. 28..Oct. 26..Nov. 30..Dec. 31..



Loans and investments

Total

57,94661,126

64,00978,147

87,88196,966

108,707119,461

129,639140,227

136,572131,698

131,096134,924

135,370134,390132,620133,430133,690133,081134,090134,440132,890133,420133,500133,693

134,060133,100132,300132,440133,450133,868134,960138,170138,840139,810140,010140,598

141,820141,320141,190141,340142,300142,959143,570144,560144,780145,730146,660148,021

146,500146,480147,120146,880146,680147,742147,870148,950150,550152,550153,980154,869

Loans

25,31126,615

25,08123,916

22,24123,601

25,42426,015

27,97930,362

31,48635,648

38,36543,002

43,20043,65043,90043,95044,68045,09945,44046,00047,14047,16047,91048,174

48,18047,82048,22047,23046,91047,07646,61047,36047,95048,14049,13049,544

49,61049,89050,52050,77051,18051,99953,32054,76056,57057,69059,52060,386

60,97061,92062,95063,04063,34063,84063,75064,47065,38066,32066,99067,608

U.S.Govt.obliga-tions

23,52125,511

30,30145,951

57,74865,932

75,73785,885

93,657101,288

95,91186,558

82,67981,199

81,39079,97077,56078,33077,87076,77477,32077,02074,23074,92074,32074,097

74,58073,86072,56073,63074,83074,87776,08078,34078,29079,08078,31078,433

79,49078,57077,36077,11077,67077,32076,44075,61073,75073,61072,69072,894

70,83069,80069,25068,85068,41068,72668,85069,23069,73070,78071,45071,343

Othersecu-rities

9,1148,999

8,6278,280

7,8927,433

7,5477,561

8,0048,577

9,1759,491

10,05110,723

10,78010,77011,16011,15011,14011,20811,33011,42011,52011,34011,27011,422

11,30011,42011,52011,58011,71011,91512,27012,47012,60012,59012,57012,621

12,72012,86013,31013,46013,45013,64013,81014,19014,46014,43014,45014,741

14,70014,76014,92014,99014,93015,17615,27015,25015,44015,45015,54015,918

Cashassets

26,76027,344

25,57528,701

26,66528,475

28,16430,790

30,71135,415

33,12435,041

33,54438,388

34,49034,51033,39033,38032,94035,00033,97033,85036,88037,66037,48039,474

36,93036,82035,05034,76033,55034,96633,37032,70032,41033,23033,44036,522

33,58033,71032,27032,68033,31034,09934,21034,06035,07035,43035,88041,086

37,66038,59037,44037,51037,02038,23537,74037,09038,98040,45039,92045,531

Totalassets—Totallia-

bilitiesand

capitalac-

counts i

87,29090,908

91,889109,024

116,639127,396

138,740152,025

162,045177,332

171,374168,421

166,337175,091

171,730170,830167,910168,770168,710170,052170,100170,390171,750173,090173,040175,176

172,960171,980169,310169,210169,060170,804170,280172,940173,200175,040175,630179,170

177,440177,050175,400175,980177,750179,159179,920180,910181,970183,350184,780191,317

186,420187,430186,750186,670186,120188,336187,960188,540191,830195,450196,390202,903

Deposits

Total

78,12081,816

82,70699,803

107,224117,661

128,605141,448

151,033165,612

159,171155,902

153,349161,865

158,230157,130153,990154,970154,640156,353156,090156,340157,520159,010158,560161,248

158,560157,590154,760154,660154,460156,470155,470157,860158,250160,270160,400164,467

162,510161,970159,950160,570161,880163,770163,840164,810165,730167,180168,040175,296

169,280170,500169,760169,770168,810171,860171,020171,100174,480177,730178,200185,756

Interbank

De-mand Time

10,94810,982

10,28711,308

10,89511,003

11,21912,235

12,60514,065

12,31112,656

11,67912,793

11,75011,22010,67010,64010,38011,17811,03010,96011,02011,39011,28011,997

11,40010,67010,23010,04010,10010,60810,61010,93010,95011,40011,26012,388

11,73011,37010,93010,93010,78011,03910,90010,94011,11011,91011,85013,577

11,64011,58011,10011,25010,87011,42111,83011,63012,22012,88012,71014,536

240

250250250260260258260260260260260272

260260260270330331350330340340340322

320320300310350396410430430430460462

580580530490480526560570590610620551

Other

Demand

U.S.Govt. Other

40,53044,355

46,35761,437

67,55475,569

83,58891,653

96,725105,935

98,04392,446

89,2951,346

1,2201,6602,2902,3602,2502,0742,2902,2802,6602,2102,1302,340

1,9102,9203,2801,9901,7902,1471,3302,9403,5803,4503,0603,074

3,1604,0104,1403,0503,0103,6223,4103,6503,4402,9202,8002,809

2,6104,0606,1705,6204,6206,1284,3503,8604,8803,4903,5803,362

94,381

91,80090,47087,16088,06088,10088,74988,52088,86089,49091,05091,07092,331

90,59089,19086,19087,43087,22087,99887,89088,35088,05089,73090,77093,082

91,60090,31088,28089,78091,16091,88392,65093,55094,52095,69097,030101,935

98,19097,99095,49095,82096,12096,39996,80097,25098,790102,330103,110108,282

Time

26,64126,479

26,06227,058

28,77531,089

33,79737,561

41,70245,613

48,81750,800

52,37553,105

53,21053,53053,62053,65053,65054,09353,99053,98054,09054,10053,82054,308

54,40054,55054,80054,93055,02055,38655,29055,31055,33055,35054,97055,601

55,70055,96056,30056,50056,58056,83056,47056,24056,23056,23055,90056,513

56,26056,29056,47056,59056,72057,38657,48057,79058,00058,42058,18059,025

Bor-row-ings

1523

1613

2849

86124

70227

8845

6366

2803404602403106629027035019048057

4403404203803403154067038017045020

3102805104105304661039042026066090

1,15087091064094077450720590730

1,01035

Totalcapitalac-

counts

8,4198,414

8,4868,566

8,7488,996

9,3079,643

10,09610,542

11,06711,360

11,72111,948

11,99012,04012,08012,11012,22012,24112,30012,36012,40012,45012,47012,479

12,55012,57012,65012,68012,70012,84512,83012,92012,98013,04013,18013,088

13,11013,19013,27013,27013,45013,57613,61013,67013,72013,80013,85013,837

13,87013,89013,94014,00014,05014,23614,27014,36014,41014,53014,54014,623

Num-berof

banks

14,85514,826

14,77514,682

14,61814,579

14,55314,535

14,54214,553

14,56714,585

14,71614,714

14,71814,72614,73014,73114,72714,71914,71714,71914,72014,71214,70914,703

14,70014,69014,69214,69214,69114,68014,68414,68714,69014,69014,68514,687

14,68914,68314,68214,68414,67414,67414,66514,65614,65814,65814,65914,650

14,64514,63914,64914,64714,64414,63614,63714,63414,63414,63114,62514,618

For note see p. 29.

23


PRINCIPAL ASSETS, LIABILITIES, AND NUMBER OF BANKS — ContinuedA. COMMERCIAL AND MUTUAL SAVINGS BANKS, 1941-60 — Continued


Date


1953_jan. 28..Feb. 25..Mar. 25..Apr. 29..May 27..June 30..July 29..Aug. 26..Sept. 30..Oct. 28..Nov. 25..Dec. 31..

1954__jan. 27..Feb. 24..Mar. 31..Apr. 28..May 26..June 30..July 28..Aug. 25..Sept. 29..Oct. 27..Nov. 24..Dec. 31..

1955_Jan. 26..Feb. 23..Mar. 30..Apr. 27..May 25..June 30..July 27..Aug. 31..Sept. 28..Oct. 26..Nov. 30..Dec. 31..




Total

155,200154,790155,280155,250156,150157,528160,200160,100160,750163,200165,490165,626

165,030164,580164,610163,310163,100163,082168,500168,590168,560169,580171,240171,497

171,380171,100169,190170,710172,560173,343174,380176,790178,040181,600183,370183,784

184,340183,100182,050184,210184,410184,253186,190186,070186,810188,490189,100190,780

189,530188,700190,530190,810190,640191,074190,860192,500193,660194,230195,780197,063

194,950194,810195,440197,810197,980198,600198,530199,250199,820201,450200,910203,849

Loans

67,46067,63067,99068,49068,92069,74270,36070,97072,09073,47074,60075,512

75,33075,63076,82077,11077,42077,11777,85078,37078,73079,72080,01080,518

79,50080,02080,38080,28080,87081,22781,34080,69081,68082,33084,23085,617

85,71086,50087,86088,64089,79091,35592,93093,94095,24096,26098,650100,057

99,600100,360102,730103,520104,430105,525105,960106,530107,720108,220109,160110,079

108,830109,350110,800111,260111,620113,810112,960113,590114,260113,970114,060115,115


71,82071,06070,92070,21070,45070,78372,65071,67071,28072,40073,56072,740

72,25071,41070,04068,40067,84068,10872,70072,07071,62071,66072,99072,610

73,35072,22069,80071,24072,39072,52573,27076,21076,20079,00078,86077,728

77,77075,58072,98074,39073,74071,94772,41071,19070,68071,41069,84070,052

69,38067,64067,08066,58065,70064,91764,49065,42065,16065,51066,18066,523

65,68064,82063,75065,41065,01063,36064,14064,04063,72064,99064,46065,792

Othersecu-rities

15,92016,10016,37016,55016,78017,00217,19017,46017,38017,33017,33017,374

17,45017,54017,75017,80017,84017,85617,95018,15018,21018,20018,24018,370

18,53018,86019,01019,19019,30019,59119,77019,89020,16020,27020,28020,439

20,86021,02021,21021,18020,88020,95120,85020,94020,89020,82020,61020,670

20,55020,70020,72020,71020,51020,63220,41020,55020,78020,50020,44020,461

20,44020,64020,89021,14021,35021,43021,43021,62021,84022,49022,39022,943

Cashassets

39,90039,82040,23040,05039,35041,66740,01039,16040,98041,22042,62045,584

40,80041,35040,30039,41039,24042,02339,23039,06041,48040,98041,52045,811

41,28041,25041,50040,78040,21042,55640,23039,48040,62041,63042,18044,585

42,11041,46040,23040,85039,65042,01440,72040,61041,11041,48042,47047,803

41,17041,43040,83040,71040,80043,36140,77040,56042,53043,16043,17049,641

41,64042,35041,55042,05041,57042,25042,84042,08042,04042,59043,60049,318


bilitiesand

capitalac-

counts 1

197,580197,240197,940197,860198,130201,793202,760201,860204,240206,990210,760213,837

208,410208,540207,410205,330205,040207,758210,420210,410212,860213,350215,620220,140

215,510215,210213,530214,450215,820218,900217,640219,300221,710226,360228,690231,654

229,780227,930225,660228,550227,410229,631230,240230,060231,230233,340235,120242,008

234,180233,720234,910235,070235,010238,133235,260236,840240,080241,370242,990250,770

240,730241,310241,130244,110243,790245,050245,740245,850246,370248,660249,150257,864

Deposits

Total

179,460178,770180,140179,360179,310184,130183,450182,770185,440187,260190,620195,552

188,590188,760187,660185,460185,030189,159190,620190,350193,080193,140194,990201,100

195,950194,970194,160194,450195,300199,508197,310198,780201,150205,250207,260211,115

208,140205,900203,400206,480205,100208,850207,900207,750208,710210,450211,860220,441

211,040210,130211,140211,070210,890215,510211,250212,520215,210216,570218,000227,546

216,040216,170215,900218,930218,010219,790220,640219,700220,150222,030222,380233,020

Interbank

De-mand

12,78012,36012,65011,79011,63012,89712,11012,26013,22013,12013,14014,575

12,78012,53012,14011,90011,84012,75212,10012,02013,00013,25013,10014,788

13,48012,91013,07012,75012,52013,79913,18013,42013,68013,97013,87015,050

13,43012,79012,92012,87012,33013,48412,73012,84012,94012,96013,01015,059

13,04012,64012,78012,75012,18013,62613,02012,90013,48013,77013,77016,133

12,72012,82013,01013,04012,20012,90013,51012,97013,35013,24013,09015,636

Time

540540550550570616630630650690740746

740730760790810848860900900

1,0501,1301,169

1,2301,3001,4201,5101,5901,7011,7601,7901,7901,7001,7001,761

1,8001,7601,7501,7001,6901,7611,7601,7301,7601,7501,7701,587

1,5101,4201,4301,4701,5101,6151,5401,5601,5901,6101,5901,462

1,4601,4601,4701,4101,5001,4801,4401,4001,4501,4701,4601,386

Other

Demand

U.S.Govt.

2,5303,6305,5604,2304,0905,8396,7005,9006,1805,0006,7204,944

3,9205,1005,5302,5602,6003,6367,1706,6805,8703,4405,4104,149

3,1104,2205,0604,1904,8105,5943,5805,1404,1205,7306,6204,176

3,4704,2604,0704,6105,1305,0815,7404,8604,2204,5304,2103,712

2,0103,6406,1704,1105,4505,2353,2905,4605,1103,4804,9303,736

1,6202,5103,5104,0505,0404,4903,3904,1303,5803,1803,0403,903

Other

104,330102,610101,330102,440102,310103,408102,470102,120103,170105,800107,470111,689

107,290106,180104,580105,180104,360105,753104,150104,170106,230107,820108,070112,639

109,510107,540104,900105,990105,820107,043107,010106,290109,020110,920112,540116,617

115,760113,170110,200112,760111,110113,034112,240112,490113,690114,910116,980123,238

117,600115,140112,930114,910113,580115,850114,140113,050115,140117,590118,140125,308

118,600117,070114,550116,720114,770115,690116,690115,150115,160117,100118,190123,993

Time

59,28059,63060,05060,35060,71061,36961,54061,86062,22062,65062,55063,598

63,86064,22064,65065,03065,42066,17066,34066,58067,08067,58067,28068,355

68,62069,00069,71070,01070,56071,37171,78072,14072,54072,93072,53073,511

73,68073,92074,46074,54074,84075,49175,43075,83076,10076,30075,89076,844

76,88077,29077,83077,83078,17079,18279,26079,55079,89080,12079,57080,908

81,64082,31083,36083,71084,50085,23085,61086,05086,61087,04086,60088,102

Bor-row-ings

9301,080470

1,0501,22094

1,7701,400920

1,7201,960188

1,7101,4801,5201,4801,420113

1,1601,200640

1,0301,29062

5201,0102306309605575076061076079031

9701,0901,4901,2901,390150

1,5001,2001,2801,4601,480163

1,5901,6301,8101,8701,740356

1,5801,4801,6201,4501,39078

1,4901,6701,8301,5501,9101,6901,2201,7501,6901,7901,71080

Totalcapitalac-

counts

14,64014,69014,77014,89014,94015,03915,02015,07015,17015,26015,28015,367

15,37015,44015,49015,57015,68015,79115,81015,89016,07016,12016,20016,118

16,17016,29016,35016,48016,55016,66416,69016,77016,86017,08017,32017,270

17,34017,44017,41017,49017,63017,66317,75017,89017,93018,09018,21018,112

18,16018,36018,41018,58018,71018,81118,84018,96019,21019,26019,36019,249

19,34019,48019,52019,59019,71019,76020,00020,14020,21020,45020,54020,428

Num-berof

banks

14,61514,61514,60614,60214,60814,59914,60514,60314,59914,59114,58614,575

14,57114,56314,55614,54614,54614,53714,53414,53214,52514,51814,51014,509

14,51014,48814,48214,47214,46814,46514,45714,44614,43614,42214,40614,367

14,36014,35114,33014,31414,31214,30914,30314,29014,28614,26914,26414,243

14,25014,23014,22914,22414,21814,20614,20414,20714,20614,19414,18614,167

14,16314,15814,16014,15414,14514,13814,13514,13314,12814,11314,10214,090

For note see p. 29.

24


3. PRINCIPAL ASSETS, LIABILITIES, AND NUMBER OF BANKS — ContinuedA. COMMERCIAL AND MUTUAL SAVINGS BANKS, 1941-60 — Continued


Date





Total

201,780202,880205,990210,290210,440215,179213,100215,740215,470217,690220,210221,485

221,920220,340219,690222,610222,880223,200225,060225,780225,530225,870225,810227,831

225,530224,410223,770226,820226,710227,200229,370229,940232,100234,520234,510238,623

Loans

113,400113,580114,610115,220114,890117,808116,020116,390117,060117,960119,230121,571

121,030121,370122,850125,010126,440128,690130,350131,970132,610133,050134,520135,958

134,860135,710137,010138,660139,550140,990140,520141,230142,180141,720142,090144,764


65,24065,77067,12070,31070,57071,61171,56073,51072,14073,50074,95073,641

74,85072,88070,58071,01070,01068,17068,40067,57066,47066,58065,36065,801

64,84063,00061,06062,57061,81060,76063,20063,11064,19066,79066,56067,242

Othersecu-rities

23,14023,53024,26024,76024,98025,76025,52025,84026,27026,23026,03026,273

26,04026,09026,26026,59026,43026,34026,31026,24026,45026,24025,93026,071

25,83025,70025,70025,59025,35025,45025,65025,60025,73026,01025,86026,617

Cashassets

41,95042,29042,22043,73042,00044,42342,73042,11042,19043,02045,13049,911

43,20043,56042,24043,30042,51042,73042,29042,15044,63044,03044,87050,296

43,16043,49042,53043,30042,03043,71043,77043,83044,50045,85046,88053,022


bilitiesand

capitalac-

counts 1

248,540250,060253,130259,000257,240264,525260,800262,700262,580265,490270,180276,430

270,100268,750266,880270,990270,480270,990272,520273,010275,500275,160275,990283,629

274,270273,430271,990275,760274,360276,710279,050280,000282,710286,550287,650298,126

Deposits

Total

222,430223,590226,810232,360230,280237,204233,880234,940234,420237,450241,070250,057

241,830239,740238,150242,100241,090241,230242,690242,550246,320244,850244,830254,885

243,550241,760239,630243,260241,320244,470245,900245,830249,330252,510254,200266,196

Interbank

De-mand

13,13013,00013,26013,93013,53013,78914,29014,15014,01014,00013,59015,799

13,11012,85013,03012,85012,75012,87012,63012,90013,70013,15013,20015,650

12,92012,71012,68012,52012,21013,30013,07013,50013,67014,18015,60017,080

Time

1,7002,1302,3002,3902,4502,4972,3902,3802,4002,3402,3602,374

2,4102,2902,3402,3602,2302,0301,9901,9101,7801,7101,6101,443

1,3901,2901,2701,4701,4901,4401,4801,6101,6701,6901,7401,800

Other

Demand

U.S.Govt.

2,1503,5005,5605,1805,4209,2094,0005,4904,2203,4405,6004,253

4,4904,1503,5904,2804,8904,4204,6805,7206,1405,1904,4005,054

3,5404,4804,4104,4806,8807,0606,2305,4407,3905,9705,3605,949

Other

116,680115,040114,210118,190115,260117,113117,620116,830117,460121,060123,610130,132

124,240122,520120,480123,470121,540121,600123,250121,490123,860124,350125,960131,622

125,320122,720119,720123,120118,720119,570121,460120,600121,130124,450125,290133,408

Time

88,77089,92091,48092,67093,62094,59695,58096,09096,33096,61095,91097,498

97,58097,93098,71099,14099,680100,310100,140100,530100,840100,45099,660101,116

100,380100,560101,550101,670102,020103,100103,660104,680105,470106,220106,210107,959

Bor-row-ings

1,1501,070900

1,0001,1101,137810

1,3001,5601,4002,150

81

1,7702,2102,0502,0902,2402,7102,5802,7701,4102,4802,860624

2,3402,8203,2903,0003,1802,1702,5902,9202,0502,4801,330167

Totalcapitalac-

counts

20,56020,70020,83020,91021,04021,35921,39021,54021,66021,71021,82021,705

21,78021,86021,98022,13022,27022,36022,51022,70022,84022,87022,99022,915

23,04023,15023,26023,35023,52023,77023,89024,12024,23024,37024,59024,539

Num-berof

banks

14,08114,07614,07814,07114,06514,05514,04014,03614,03414,02814,03314,020

14,03014,02214,01214,00914,00013,99713,99414,00413,99613,99513,99313,991

13,99713,99913,99913,99614,00214,00013,99913,99814,00013,98913,98513,986

For note see p. 29.

25


PRINCIPAL ASSETS, LIABILITIES, AND NUMBER OF BANKS-B. COMMERCIAL BANKS, 1941-60


- Continued

Date

1941—June 30..Dec. 31..

1942—June 30..Dec. 31..

1943—June 30..Dec. 31..

1944—June 30..Dec. 30..

1945—June 30..Dec. 31..

1946—June 29..Dec. 31..

1947_jUne30..Dec. 31..

1948_Jan. 28..Feb. 25..Mar. 31..Apr. 28..May 26..June 30.July 28..Aug. 25..Sept. 29..Oct. 27..Nov.24..Dec. 31..





Total

47,62750,746

53,65267,393

76,63385,095

95,731105,530

114,505124,019

119,448113,993

112,756116,284

116,600115,540113,600114,340114,570113,855114,760115,100113,600114,120114,220114,298

114,470113,410112,500112,510113,440113,773114,770117,930118,530119,480119,700120,197

121,230120,600120,300120,330121,160121,767122,320123,300123,560124,450125,380126,675

125,050125,010125,740125,390125,060126,045126,070127,030128,550130,480131,860132,610

Loans

20,35521,714

20,26519,221

17,66519,117

21,01021,644

23,67226,083

27,13031,122

33,67938,057

38,24038,66038,86038,85039,52039,86540,14040,63041,72041,64042,32042,488

42,45042,03042,37041,32040,93041,02540,51041,19041,68041,78042,66042,965

42,94043,13043,65043,80044,08044,79645,98047,27048,93049,85051,51052,249

52,71053,54054,42054,35054,46054,82154,59055,16055,96056,75057,27057,746


20,11421,808

26,41141,379

52,45459,842

68,43177,557

84,06990,606

84,47374,780

70,53969,221

69,35067,93065,47066,27065,87064 79865,31065,10062,46063,26062,78062,622

62,97062,24060,88061,95063,17063,22064,44066,71066,70067,56066,91067,005

67,98067,07065,81065,54066,10065,75164,95064,23062,54062,52061,74062,027

59,98059,06058,77058,47058,11058,52158,72059,14059,69060,85061,63061,524

Othersecu-rities

7,1597,225

6,9766,793

6,5146,136

6,2906,329

6,7647,331

7,8458,091

8,5389,006

9,0108,9509,2709,2209,1809,1929,3109,3709,4209,2209,1209,189

9,0509,1409,2509,2409,3409,5289,82010,03010,15010,14010,13010,227

10,31010,40010,84010,99010,98011,22111,39011,80012,09012,08012,13012,399

12,36012,41012,55012,57012,49012,70312,76012,73012,90012,88012,96013,339

Cashassets

25,79226,551

24,82228,039

25,94327,677

27,62930,206

30,12734,806

32,37834,223

32,70437,502

33,64033,66032,59032,63032,18034,16833,24033,11036,00036,82036,68038,596

36,13036,03034,24034,03032,82034,16632,60031,92031,63032,45032,68035,650

32,75032,87031,41031,88032,54033,26833,46033,33034,27034,70035,16040,289

36,95037,87036,56036,66036,22037,38436,92036,30038,17039,65039,16044,645


bilitiesand

capitalac-

counts 1

75,29579,104

80,20797,091

104,210114,350

124,904137,237

146,094160,312

153,321149,718

146,975155,377

151,910150,910147,870148,700148,580149,799149,840150,090151,360152,710152,710154,702

152,360151,280148,470148,300148,060149,699149,120151,700151,880153,680154,280157,677

155,780155,230153,400153,900155,560156,908157,690158,680159,680161,060162,500168,932

163,990164,960164,210164,050163,400165,501165,040165,520168,700172,270173,180179,465

Deposits

Total

67,50071,283

72,31289,135

96,080105,923

116,133128,072

136,607150,227

142,890139,033

135,907144,103

140,350139,180135,960136,910136,550138,142137,880138,110139,240140,720140,340142,843

140,040139,010136,070135,910135,650137,520136,480138,830139,170141,150141,330145,174

143,080142,440140,270140,820142,070143,827143,940144,950145,840147,280148,190155,265

149,230150,440149,650149,600148,570151,457150,560150,570153,870157,060157,540164,840

Interbank

De-mand Time

10,93610,982

10,27311,308

10,88311,003

11,21912,235

12,60514,065

12,31112,656

11,67912,792

11,75011,22010,67010,64010,38011,17811,03010,96011,02011,39011,28011,997

11,40010,67010,23010,04010,10010,60810,61010,93010,95011,40011,26012,388

11,73011,37010,93010,93010,78011,03910,90010,94011,11011,91011,85013,577

11,64011,58011,10011,25010,87011,42111,83011,63012,22012,88012,71014,536

240

250250250260260258260260260260260272

260260260270330330350330340340340321

320320300310350396410430430430460462

580580530490480525560570590610620550

Dei

U.S.Govt.

Other

Other

40,56544,349

46,37361,431

67,56675,569

83,58891,653

96,725105,921

98,04392,446

89,2811,343

1,2201,6602,2902,3602,2502,0722,2902,2802,6602,2102,1302,338

1,9102,9203,2801,9901,7902,1451,3302,9403,5803,4503,0603,074

3,1604,0104,1403,0503,0103,6223,4103,6503,4402,9202,8002,806

2,6104,0606,1705,6204,6206,1264,3503,8604,8803,4903,5803,359

94,367

91,79090,46087,15088,04088,08088,73488,50088,84089,47091,03091,05092,316

90,57089,17086,17087,41087,20087,98387,87088,33088,03089,71090,75093,062

91,58090,29088,26089,76091,14091,86392,63093,53094,50095,67097,010101,917

98,17097,97095,47095,80096,10096,38196,78097,23098,770102,310103,090108,259

Time

15,99915,952

15,66516,395

17,63219,350

21,32624,184

27,27630,241

32,53633,930

34,94735,360

35,34035,59035,60035,61035,58035,89935,80035,77035,83035,83035,62035,920

35,90035,99036,13036,20036,23036,45536,32036,30036,27036,25035,92036,328

36,29036,45036,64036,77036,79036,90736,59036,40036,36036,35036,07036,503

36,23036,25036,38036,44036,50037,00437,04037,28037,41037,77037,54038,137

Bor-row-ings

1523

1613

2849

86123

69219

8745

6365

2803404602403106629027035019048056

4403404203803403054067038017045020

3102805104105304661039042026066090

1,15087091064094075450720590730

1,01034

Totalcapitalac-

counts

7,1067,173

7,2377,330

7,5017,719

7,9828,265

8,6188,950

9,3529,577

9,88010,059

10,11010,15010,17010,20010,29010,28710,34010,39010,42010,46010,48010,480

10,55010,56010,62010,65010,66010,78010,76010,83010,88010,93011,05010,967

10,98011,02011,08011,09011,25011,38711,42011,47011,50011,58011,62011,590

11,61011,63011,66011,13011,77011,95111,98012,06012,09012,20012,20012,216

Num-berof

banks

14,30514,278

14,22814,136

14,07314,034

14,00913,992

14,00014,011

14,02614,044

14,18314,181

14,18514,19314,19714,19814,19414,18714,18514,18714,18814,18014,17714,171

14,16814,15914,16214,16214,16114,15014,15414,15714,16014,15914,15414,156

14,15814,15214,15114,15314,14314,14414,13514,12714,12914,12914,13014,121

14,11614,11014,12014,11714,11414,10714,10814,10514,10514,10214,09614,089

For note see p. 29.

26


3. PRINCIPAL ASSETS, LIABILITIES, AND NUMBER OF BANKS — ContinuedB. COMMERCIAL BANKS, 1941-60 — Continued


Date

1952—Jan. 30.Feb. 27.Mar. 26.Apr. 30.May 28.June 30.July 30.Aug. 27.Sept. 24.Oct. 29.Nov. 26.Dec. 31.

1953—Jan. 28.Feb. 25.Mar. 25.Apr. 29.May 27.June 30.July 29.Aug. 26.Sept. 30.Oct. 28.Nov. 25..Dec. 31..

1954__jan. 27..Feb. 24..Mar. 31..Apr. 28..May 26..June 30..July 28..Aug. 25..Sept. 29..Oct. 27..Nov. 24..Dec. 31..





Total

132,77132,24132,53132,34133,06134,43136,76136,55137,09139,44141,66141,62

140,78140,10140,00138,52138,10137,957143,190143,130142,990143,970145,530145,687

145,330144,900142,790144,110145,690146,383147,280149,490150,580154,010155,710155,916

156,250154,820153,490155,540155,570155,264156,990156,680157,260158,860159,390160,881

159,410158,350159,930160,080159,690160,008159,580161,030162,030162,540163,970165,123

162,810162,490162,860165,120165,070165,600165,380165,900166,320167,900167,270170,068

Loans

57,5157,5957,8458,2258,5259,2359,72060,21061,20062,41063,40064,16

63,86064,07065,17065,28065,44065,02565,63066,04066,26067,12067,25067,593

66,46066,87067,05066,75067,12067,33767,29066,45067,25067,74069,45070,619

70,55071,18072,31072,92073,85075,18376,57077,34078,39079,21081,39082,601

81,98082,54084,69085,29085,96086,88787,14087,47088,48088,78089,51090,302

88,93089,34090,63090,99091,18093,28092,34092,84093,40092,97092,94093,899

U.S.Govt.obligations

61,9961,2661,1260,4560,7061,1762,9061,96061,61062,86064,09063,31

62,76061,90060,52058,89058,31058,64463,22062,59062,20062,34063,72063,426

64,16063,03060,65062,13063,28063,50864,34067,30067,33070,16070,11068,981

69,00066,80064,18065,63065,00063,27163,70062,49062,02062,86061,37061,592

60,90059,17058,60058,15057,31056,62056,19057,17056,95057,45058,20058,552

57,71056,83055,74057,46057,07055,50056,28056,17055,87057,31056,91058,239

Othersecu-rities

13,2713,3913,5713,6713,8414,0214,14014,38014,28014,17014,17014,143

14,16014,13014,31014,35014,35014,28714,34014,50014,53014,51014,56014,668

14,71015,00015,09015,23015,29015,53815,65015,74016,00016,11016,15016,316

16,70016,84017,00016,99016,72016 80916,72016,85016,85016,79016,63016,688

16,53016,64016,64016,64016,42016,50216,25016,39016,60016,31016,26016,269

16,17016,32016,49016,67016,82016,82016,76016,89017,05017,62017,42017,930

Cashassets

39,0738,9739,3839,2238,5340,7039,2638,3840,1340,4041,8244,66

39,92040,50039,42038,56038,45041,15638,42038,26040,64040,10040,71044,828

40,33040,29040,49039,83039,33041,56939,26038,54039,67040,72041,26043,559

41,08040,47039,25039,92038,70041,02539,79039,68040,19040,59041,58046,838

40,26040,53039,94039,88039,97042,44439,92039,73041,70042,36042,39048,720

40,80041,51040,70041,26040,77041,38042,04041,32041,26041,79042,80048,428


bilitiesand

capita]ac-

counts

174,01173,52174,02173,80173,89177,41178,250177,210179,40182,080185,790188,60

182,960182,870181,570179,320178,870181,425183,940183,790186,080186,480188,720193,010

188,150187,670185,740186,520187,670190,585189,190190,670192,900197,480199,720202,378

200,270198,250195,700198,540197,210199,249199,710199,340200,350202,410204,100210,734

202,730202,040202,980203,070202,780205,712202,690204,090207,160208,430209,930217,460

207,290207,680207,230210,160209,600210,710211,310211,250211,590213,840214,220222,696

Deposits

Total

158,41157,62158,81157,91157,72162,34161,56160,77163,26164,99168,34172,93

165,780165,830164,530162,180161,630165,531166,880166,520169,090169,050170,920176,702

171,360170,270169,220169,400170,080174,068171,770173,130175,300179,300181,280184,757

181,590179,240176,460179,500177,990181,516180,470180,200180,990182,640184,020192,254

182,720181,670182,440182,330181,980186,326181,980183,150185,690186,990188,370197,515

185,930185,940185,440188,460187,370188,880189,710188,680188,930190,740191,050201,326

Interbank

De-mand

12,7812,3612,65011,7911,63012,8912,11012,26013,22013,12013,14014,575

12,78012,53012,14011,90011,84012,75212,10012,02013,00013,25013,10014,788

13,48012,91013,07012,75012,52013,79813,18013,42013,68013,97013,87015,050

13,43012,79012,92012,87012,33013,48312,73012,84012,94012,96013,01015,058

13,04012,64012,78012,75012,18013,62613,02012,90013,48013,77013,77016,133

12,72012,82013,01013,04012,20012,90013,51012,97013,35013,24013,09015,636

Time

540540550550570614630630650690740744

740730760790810846860900900

1,0501,1301,167

1,2301,3001,4201,5101,5901,6991,7601,7901,7901,7001,7001,759

1,8001,7601,7501,7001,6901,7591,7601,7301,7601,7501,7701,585

1,5101,4201,4301,4701,5101,6131,5401,5601,5901,6101,5901,460

1,4601,4601,4701,4101,5001,4801,4401,4001,4501,4701,4601,385

Other

Demand

U.S.Govt.

2,5303,6305,5604,2304,0905,8376,7005,9006,1805,0006,7204,941

3,9205,1005,5302,5602,6003,6347,1706,6805,8703,4405,4104,146

3,1104,2205,0604,1904,8105,5913,5805,1404,1205,7306,6204,172

3,4704,2604,0704,6105,1305,0785,7404,8604,2204,5304,2103,709

2,0103,6406,1704,1105,4505,2323,2905,4605,1103,4804,9303,733

1,6202,5103,5104,0505,0404,4903,3904,1303,5803,1803,0403,898

Other

104,30102,58101,30102,41102,28103,38102,440102,090103,140105,770107,440111,659

107,260106,150104,550105,150104,330105,718104,120104,130106,190107,780108,030112,604

109,470107,500104,860105,950105,780106,996106,960106,240108,970110,870112,490116,567

115,710113,120110,150112,710111,060112,983112,190112,440113,640114,860116,930123,187

117,550115,090112,870114,860113,520115,824114,110113,020115,110117,560118,110125,282

118,570117,040114,520116,690114,740115,660116,660115,120115,130117,070118,160123,967

Time

38,2638,51038,75038,93039,15039,6139,68039,89040,07040,41040,30041,012

41,08041,32041,55041,78042,05042,58142,63042,79043,13043,53043,25043,997

44,07044,34044,81045,00045,38045,98346,29046,54046,74047,03046,60047,209

47,18047,31047,57047,61047,78048,21448,05048,33048,43048,54048,10048,715

48,61048,88049,19049,14049,32050,03050,02050,21050,40050,57049,97050,908

51,56052,11052,93053,27053,89054,35054,71055,06055,42055,78055,30056,440

Bor-row-ings

9301,080470

1,0501,22094

1,7701,400920

1,7201,960188

1,7101,4801,5201,4801,420113

1,1601,200640

1,0301,29062

5201,0102306309605575076061076079031

9701,0901,4901,2901,390150

1,5001,2001,2801,4601,480159

1,5901,6301,8101,8701,740354

1,5801,4801,6201,4501,39075

1,4901,6701,8301,5501,9101,6901,2201,7501,6901,7901,71077

Totalcapitalac-

counts

12,24012,28012,34012,46012,50012,6012,58012,63012,72012,80012,82012,888

12,89012,95012,98013,07013,18013,27513,29013,35013,52013,57013,63013,559

13,60013,70013,75013,87013,93014,03814,06014,12014,20014,42014,64014,576

14,65014,73014,68014,77014,89014,90614,98015,10015,11015,30015,39015,300

15,34015,51015,55015,71015,82015,92715,94016,04016,28016,33016,40016,302

16,38016,50016,52016,58016,68016,75016,97017,09017,14017,38017,44017,368

Num-berof

banks

14,08614,08614,07714,07314,07914,07014,07614,07414,07014,06214,05714,046

14,04214,03514,02814,01814,01814,00914,00614,00413,99713,99013,98213,981

13,98213,96013,95413,94413,94013,93713,92913,91913,90913,89513,87913,840

13,83313,82413,80313,78613,78413,78113,77613,76313,75913,74213,73713,716

13,72313,70313,70213,69713,69113,67913,67713,68013,67913,66713,65913,640

13,63613,63113,63313,62813,61913,61313,61013,60813,60313,58813,57813,568

For note see p. 29.

27


3. PRINCIPAL ASSETS, LIABILITIES, AND NUMBER OF BANKS — ContinuedB. COMMERCIAL BANKS, 1941-60 — Continued


Date



I960—Jan. 27..Feb. 24..Mar. 30..Apr. 27..May 25..June 29..July 27..Aug. 31..Sept. 28..Oct. 26..Nov. 30..Dec. 31..


Total

167,650168,580171,410175,560175,440179,905177,600179,990179,510181,670184,050185,165

185,620183,840182,940185,740185,810185,920187,660188,190187,790188,380188,280190,270

187,780186,540185,680188,810188,580188,900190,890191,240193,270195,580195,490199,509

Loans

92,02092,09092,98093,45092,90095,57193,61093,76094,23094,97096,06098,214

97,71097,89099,190101,210102,440104,450105,940107,370107,830108,160109,470110,832

109,550110,250111,390112,950113,630114,840114,170114,660115,430114,790115,010117,642


57,70058,26059,55062,83063,14064,19464,13066,06064,72066,17067,66066,376

67,53065,52063,16063,63062,62060,86061,11060,29059,23059,62058,48058,937

57,98056,17054,16055,83055,14054,21056,70056,58057,69060,39060,18061,003

Othersecu-rities

17,93018,23018,88019,28019,40020,14019,86020,17020,56020,53020,33020,575

20,38020,43020,59020,90020,75020,61020,61020,53020,73020,60020,33020,501

20,25020,12020,13020,03019,81019,85020,02020,00020,15020,40020,30020,864

Cashassets

41,07041,34041,29042,85041,12043,50741,88041,27041,33042,16044,31048,990

42,40042,74041,38042,55041,76041,93041,57041,43043,91043,33044,15049,467

42,47042,78041,78042,61041,36042,88043,01043,08043,71045,10046,11052,150


bilitiesand

capitalac-

counts 1

213,050214,320217,090222,870220,840227,847223,970225,620225,260228,130232,700238,651

232,470230,900228,710232,830232,100232,380233,870234,170236,500236,440237,210244,686

235,280234,300232,590236,480234,980237,040239,270240,000242,530246,290247,290257,552

Deposits

Total

190,470191,480194,400199,850197,590204,335200,920201,840201,050203,990207,570216,017

207,960205,760203,850207,800206,670206,630208,130207,910211,480210,200210,210219,903

208,650206,810204,350208,080206,090209,010210,420210,240213,520216,580218,230229,843

Interbank

De-mand

13,13013,00013,26013,93013,53013,78914,29014,15014,01014,00013,59015,799

13,11012,85013,03012,85012,75012,87012,63012,90013,70013,15013,20015,649

12,92012,71012,68012,52012,21013,30013,07013,50013,67014,18015,60017,079

Time

1,7002,1302,3002,3902,4502,4952,3902,3802,4002,3402,3602,372

2,4102,2902,3402,3602,2302,0301,9901,9101,7801,7101,6101,441

1,3901,2901,2701,4701,4901,4401,4801,6101,6701,6901,7401,799

Other

Demand

U.S.Govt.

2,1503,5005,5605,1805,4209,2054,0005,4904,2203,4405,6004,250

4,4904,1503,5904,2804,8904,4204,6805,7206,1405,1904,4005,050

3,5404,4804,4104,4806,8807,0606,2305,4407,3905,9705,3605,945

Other

116,650115,010114,180118,160115,230117,086117,590116,800117,430121,030123,580130,104

124,210122,490120,450123,440121,510121,570123,220121,460123,830124,320125,930131,593

125,290122,690119,690123,090118,690119,540121,430120,570121,100124,420125,260133,379

Time

56,84057,84059,10060,19060,96061,75962,65063,02062,99063,18062,44063,493

63,74063,98064,44064,87065,29065,74065,61065,92066,03065,83065,07066,169

65,51065,64066,30066,52066,82067,67068,21069,12069,69070,32070,27071,641

Bor-row-ings

1,1501,070900

1,0001,1101,136810

1,3001,5601,4002,150

73

1,7702,2102,0502,0902,2402,7102,5802,7701,4102,4802,860615

2,3402,8203,2903,0003,1802,1702,5902,9202,0502,4801,330163

Totalcapitalac-

counts

17,47017,58017,71017,81017,92018,17818,19018,31018,41018,47018,55018,486

18,57018,62018,73018,89018,99019,03019,17019,34019,44019,50019,59019,556

19,65019,73019,86019,96020,11020,28020,38020,58020,66020,81021,00020,986

Num-berof

banks

13,56113,55613,55813,55113,54513,53513,52113,51713,51513,50913,51413,501

13,51213,50413,49413,49113,48213,47913,47613,48613,47813,47813,47613,474

13,48013,48213,48213,48013,48613,48513,48413,48313,48513,47413,47013,472

For note see p. 29.

28


3. PRINCIPAL ASSETS, LIABILITIES, AND NUMBER OF BANKS — ContinuedC. MUTUAL SAVINGS BANKS, 1941-60


Call date


Total Loans

Investments

TotalU.S. Gov-ernment

obligationsOther

securities

Cashassets

Totalassets—

Totalliabilities

andcapital

accountsl

Totaldeposits

Totalcapitalaccounts

Numberof

banks

1941_june 30.Dec. 31.

1942—June 30.Dec. 31.

1943_june 30.Dec. 31.

1944_june 30.Dec. 30.

1945—June 30.Dec. 31.

1946—June 29.Dec. 31.

1947—June 30.Dec. 31.

1948—June 30.Dec. 31.

1949—June 30.Dec. 31.

1950—June 30.Dec. 30.

1951—June 30.Dec. 31.

1952—June 30.Dec. 31.

1953—June 30.Dec. 31.

1954—June 30.Dec. 31.

1955—June 30.Dec. 31.

1956—June 30.Dec. 31.

1957—June 6.Dec. 31.

1958—June 23.Dec. 31.

1959—June 10Dec. 31

I960—June 15Dec. 31

10,32110,379

10,36010,754

11,24811,871

12,97613,931

15,13416,208

17,12517,704

18,33918,641

19,22619,395

20,09420,400

21,19221,346

21,69722,259

23,09124,003

25,12425,810

26,95927,868

28,99029,898

31,06631,940

32,95033,782

35,27436,320

37,22137,561

38,30039,114

4,9584,901

4,8224,695

4,5814,484

4,4144,370

4,3074,279

4,3564,526

4,6864,944

5,2345,686

6,0506,578

7,2038,137

9,0209,862

10,50911,349

12,09112,925

13,89014,998

16,17217,456

18,63919,777

20,48721,216

22,23723,357

24,14925,126

26,06927,122

5,3635,478

5,5386,059

6,6667,387

8,5629,560

10,82711,928

12,76913,179

13,65313,696

13,99213,709

14,04413,822

13,98913,209

12,67712,398

12,58212,654

13,03312,885

13,06912,871

12,81812,442

12,42712,163

12,46312,565

13,03712,963

13,07212,435

12,23011,992

3,4263,704

3,8914,572

5,2906,090

7,3068,328

9,58810,682

11,43811,778

12,14011,978

11,97611,476

11,65711,428

11,56910,868

10,2059,819

9,6069,422

9,4649,184

9,0178,748

8,6758,460

8,2977,971

7,9067,552

7,4177,265

7,3496,864

6,6286,239

1,9371,774

1,6471,487

1,3761,297

1,2571,232

1,2401,246

1,3311,400

1,5131,718

2,0162,233

2,3872,394

2,4202,342

2,4722,579

2,9763,231

3,5693,701

4,0524,123

4,1423,982

4,1304,192

4,5575,013

5,6205,698

5,7245,570

5,6035,752

968793

753663

722797

535584

583609

747818

839886

832878

800873

831797

851886

966918

867983

9871,026

989965

917920

839890

916921

780829

764872

11,99611,804

11,68211,933

12,42913,046

13,83614,788

15,95117,020

18,05418,703

19,36219,714

20,25220,474

21,10521,493

22,25222,385

22,83523,439

24,37825,233

26,33327,130

28,31529,276

30,38231,274

32,42133,311

34,25435,168

36,67837,779

38,52638,943

39,59840,574

10,64810,533

10,39510,668

11,14111,738

12,47113,376

14,42615,385

16,28116,869

17,44217,763

18,21118,405

18,94919,293

19,94320,031

20,40420,915

21,78222,621

23,62824,398

25,44026,359

27,33428,187

29,18430,032

30,67831,695

32,86934,040

34,50334,983

35,33536,353

1,3121,241

1,2491,236

1,2471,276

1,3251,378

1,4771,592

1,7151,784

1,8421,889

1,9551,999

2,0652,122

2,1892,247

2,2852,407

2,4382,479

2,5162,559

2,6262,694

2,7572,812

2,8852,947

3,0423,059

3,1813,219

3,3153,359

3,4653,553

550548

547546

545545

544543

542542

541541

533533

532532

530531

530529

529529

529529

528528

528527

528527

527527

525522

520519

518517

515514

1 Includes other assets and liabilities not shown separately.

29


4. NUMBER AND DEPOSITS OF COMMERCIAL AND[June and

NUMBER

Call date Total

Commercial banks

Total

Member banks

Total National State

Nonmember banks

Total InsuredNon-

insured

Mutual savings banks

Total

550548

547546

545545

544543

542542

541541

533533

532532

530531

530529

529529

529529

528528

528527

528527

527527

525522

520519

518517

515514

Insured

5352

5356

61184

192192

192192

191191

191194

193193

191192

192194

201202

205206

213219

219218

218220

220223

234239

239241

251268

268325

Non-insured

1941—June 30.Dec. 31 .

1942—June 30.Dec. 31 .

1943_jUne30.Dec. 31 .

1944_ j u n e30 .Dec. 30.

1945—June 30.Dec. 31 .

1946—June 29.Dec. 31.

1947_j u n e30 .Dec. 31 .

1948—June 30.Dec. 31 .

1949—June 30.Dec. 31 .

1 9 5 0 _ j u n e 3 0 .Dec. 30.

1951—June 30.Dec. 31 .

1952—June 30.Dec. 31 .

1953_jUne3O.Dec. 31 .

1954—June 30.Dec. 31 .

1955—June 30.Dec. 31 .

1956—June 30.Dec. 31 .

1957—June 6 . .Dec. 31 .

1958—June 23.Dec. 31 .

1959_june 10.Dec. 31 .

I960—June 15.Dec. 31 .

14,85514,826

14,77514,682

14,61814,579

14,55314,535

14,54214,553

14,56714,585

14,71614,714

14,71914,703

14,68014,687

14,67414,650

14,63614,618

14,59914,575

14,53714,509

14,46514,367

14,30914,243

14,20614,167

14,14414,090

14,05514,020

13,98813,991

14,00613,986

14,30514,278

14,22814,136

14,07314,034

14,00913,992

14,00014,011

14,02614,044

14,18314,181

14,18714,171

14,15014,156

14,14414,121

14,10714,089

14,07014,046

14,00913,981

13,93713,840

13,78113,716

13,67913,640

13,61913,568

13,53513,501

13,47013,474

13,49113,472

6,5566,619

6,6476,679

6,7036,738

6,7736,814

6,8406,884

6,8876,900

6,9286,923

6,9256,918

6,9036,892

6,8856,873

6,8596,840

6,8156,798

6,7656,743

6,7216,660

6,6116,543

6,4996,462

6,4456,393

6,3576,312

6,2806,233

6,2176,174

5,1305,117

5,1015,081

5,0605,040

5,0365,025

5,0155,017

5,0125,007

5,0125,005

4,9984,991

4,9874,975

4,9714,958

4,9464,939

4,9254,909

4,8744,856

4,8354,789

4,7444,692

4,6674,651

4,6474,620

4,5994,578

4,5594,542

4,5424,530

1,4261,502

1,5461,598

1,6431,698

1,7371,789

1,8251,867

1,8751,893

1,9161,918

1,9271,927

1,9161,917

1,9141,915

1,9131,901

1,8901,889

1,8911,887

1,8861,871

1,8671,851

1,8321,811

1,7981,773

1,7581,734

1,7211,691

1,6751,644

7,7527,662

7,5847,460

7,3737,299

7,2397,181

7,1637,130

7,1427,147

7,2587,261

7,2657,256

7,2507,267

7,2627,251

7,2517,252

7,2587,251

7,2477,241

7,2197,183

7,1737,176

7,1837,181

7,1777,178

7,1817,192

7,1937,244

7,2767,300

6,8696,810

6,7556,667

6,5986,535

6,4946,452

6,4406,416

6,4466,457

6,4616,478

6,4936,498

6,5176,540

6,5536,562

6,5816,602

6,6226,627

6,6556,672

6,6626,647

6,6606,677

6,7136,737

6,7486,753

6,7686,793

6,8106,878

6,9266,948

883852

829793

775764

745729

723714

696690

797783

772758

733727

709689

670650

636624

592569

557536

513499

470444

429425

413399

383366

350352

497496

494490

484361

352351

350350

350350

342339

339339

339339

338335

328327

324323

315309

309309

310307

307304

291283281278

267249

247189

30


MUTUAL SAVINGS BANKS, BY CLASS OF BANK, 1941-60

December call dates] DEPOSITS[In millions of dollars]

Total

Commercial banks

Total

Member banks

Total National State

Nonmember banks

Total InsuredNon-

insured

Mutual savings banks

Total

10,64810,533

10,39510,664

11,14111,738

12,47113,376

14,42615,385

16,28116,869

17,44217,763

18,21118,405

18,94919,293

19,94320,031

20,40420,915

21,78222,621

23,62824,398

25,44026,359

27,33428,187

29,18430,032

30,67831,695

32,86934,040

34,50334,983

35,33536,353

Insured

1,8031,789

1,8642,048

2,7397,534

8,2358,910

9,67110,363

10,97911,428

11,90112,207

12,58112,772

13,24113,592

14,12814,320

14,92415,368

16,08116,785

17,69518,383

19,19519,885

20,59021,237

21,95922,886

23,57825,022

26,08227,277

28,04128,577

28,82431,502

Non-insured

Call date

78,12081,816

82,70699,796

107,224117,661

128,605141,449

151,033165,612

159,171155,902

153,349161,865

156,353161,248

156,470164,467

163,770175,296

171,860185,756

184,130195,552

189,159201,100

199,508211,115

208,850220,441

215,510227,546

216,986233,020

237,204250,057

242,096254,885

249,163266,196

67,47271,283

72,31189,132

96,083105,923

116,133128,072

136,607150,227

142,890139,033

135,907144,103

138,142142,843

137,520145,174

143,827155,265

151,457164,840

162,348172,931

165,531176,702

174,068184,757

181,516192,254

186,326197,515

186,308201,326

204,335216,017

207,594219,903

213,829229,843

58,51261,717

63,40478,277

84,01692,262

101,276110,917

118,378129,670

122,519118,170

115,435122,528

117,452121,362

116,980123,885

122,707133,089

129,737141,015

138,769147,527

140,830150,164

148,252157,252

154,670163,757

158,388167,906

157,593170,637

173,904182,816

174,811184,706

179,519193,029

37,27339,458

40,53450,468

54,58959,961

65,58571,858

76,53384,939

80,21278,775

77,14682,023

78,75381,407

78,21983,113

82,43089,281

86,58994,173

92,72098,974

94,475100,654

99,362105,851

98,636103,903

100,826107,161

100,989109,091

110,065116,714

112,659119,638

116,178124,911

21,23822,259

22,87127,808

29,42732,302

35,69039,059

41,84444,730

42,30739,395

38,28940,505

38,69939,955

38,76140,772

40,27743,808

43,14946,843

46,04948,553

46,35549,510

48,89051,401

56,03459,854

57,56360,744

56,60561,545

63,83966,102

62,15265,069

63,34168,118

8,9699,574

8,91510,864

12,07613,671

14,86917,168

18,24220,571

20,38720,879

20,48821,591

20,70621,497

20,55621,305

21,13722,193

21,73723,843

23,59825,424

24,72226,560

25,83827,528

26,87028,522

27,96229,635

28,74030,715

30,45833,227

32,81035,224

34,32836,834

7,1047,702

7,7549,535

10,55711,842

12,88014,809

15,88018,119

18,10818,836

18,24019,340

18,50919,296

18,41019,269

19,10820,216

19,74121,912

21,60623,464

22,84124,555

23,81925,657

25,08226,779

26,31628,073

27,29229,266

28,94231,696

31,36533,795

32,94235,391

1,8651,872

1,1611,329

1,5191,829

1,9892,358

2,3622,452

2,2792,043

2,2482,251

2,1972,201

2,1462,036

2,0291,976

1,9961,932

1,9931,960

1,8802,005

2,0201,871

1,7881,742

1,6461,562

1,4481,449

1,5161,532

1,4441,429

1,3861,443

8,8458,744

8,5318,616

8,4024,203

4,2364,466

4,7545,022

5,3025,442

5,5415,556

5,6305,633

5,7095,702

5,8155,711

5,4795,547

5,7025,836

5,9336,015

6,2466,474

6,7436,950

7,2257,146

7,1006,672

6,7876,763

6,4616,405

6,5114,850

.June 30—1941

.Dec. 31

.June 30—1942

.Dec. 31

.June 30—1943

.Dec. 31

.June 30—1944

.Dec. 30

.June 30—1945

.Dec. 31

.June 29—1946

.Dec. 31

.June 30—1947

.Dec. 31

.June 30—1948

.Dec. 31

.June 30—1949

.Dec. 31

.June 30—1950

.Dec. 30

.June 30—1951Dec. 31

June 30—1952Dec. 31

June 30—1953Dec. 31

June 30—1954Dec. 31

June 30—1955Dec. 31

June 30—1956Dec. 31

June 6 1957Dec. 31

June 23—1958Dec. 31

June 10—1959Dec. 31

June 15—1960Dec. 31

31


5. CHANGES IN THE NUMBER OF COMMERCIAL BANKS, BY

Character of change Total 1941 1942 1943 1944 1945 1946 1947 1948 1949 1950

IncreasePrimary organizations.Unclassified1

DecreaseSuspensionsConsolidations and absorptions:

Converted into branchesOther

Voluntary liquidationsUnclassified

Number at end of year.

IncreasePrimary organizationsConversions from State member.Conversions from nonmemberUnclassified1



Voluntary liquidationsConversions to State member.. . .Conversions to nonmemberUnclassified


IncreasePrimary organizationsAdmissions of nonmember.Conversions from national.Unclassified *



Voluntary liquidationsConversions to nationalWithdrawals from membership. .Unclassified


IncreasePrimary organizationsConversions from nationalWithdrawals from membership.Unclassified i



Voluntary liquidationsConversions to nationalAdmissions to membershipUnclassified


All commercial banks

1,9091,734

175

2,78164

2,336362

19

5453

1

1208

604210

14,278

2722

5

1689

8969

1

14,136

53494

1534

8662

1

14,034

6969

1111

7238

13,992

118117

1

99

8019

14,011

144144

111

544017

14,044

234111123

971

5529111

14,181

80

90

5619123

14,171

78726

934

581912

14,156

6968

1

1041

712012

14,121

National banks

477315787410

1,09111

96045

569

1

13742

404

22

626

41

287

13355

542

21

36

275

331779

41

34

2

3521113

45

21193

5,117 5,081 5,040 5,025 5,017 5,007 5,005 4,991 4,975 4,958 4,939

271962

29 32

219

191243

35

247211

29

2161

State member banks

932108817

52

6322

374

1278

166

169

1662

12

1062

104

10

1174

113

17

1135

108

22

958

87

17

659

56

39

1,499 1,595 1,695 1,786 1,864 1,890 1,915 1,924 1,914 1,912 1,898

521438

27

325

27

23

226

151

32

1789

19

Nonmember commercial banks

1,7101,311

69166164

2,26851

1,002

30574

81719

5745651

2534

37342

16610

7,662

3320625

2349

56613

1041

7,460

5642734

2152

45495

1131

7,299

675647

1851

37

327

108

7,181

1009252

151

38

17987

7,130

127114211

110

f 21I 18

12356

7,147

2077815

123

931

251882381

7,261

666024

71

199112273

7,256

72541116

614

20910315

7,267

5953141

751

39131129

7,251

1 Includes reopenings of suspended banks in the following years:1942—1 nonmember; 1953—1 State member and 2 nonmember; and1957_1 national; total for 1941-60, 5.

32


CLASS OF BANK AND BY CHARACTER OF CHANGE, 1941-60

1953 1954 1955 1956 1957 1958 1959 1960 Character of change

All commercial banks

67643

1324

9223103

13,981

75732

2163

175317

13,840

116116

2404

204275

13,716

123123

1993

166237

13,640

91892

1633

134233

13,568

9797

1648

126255

13,501

14511728

1723

148183

13,474

135135

1372

10625

4

13,472

National banks

67

4

4,856

3118481

98

80141

1332

11510113

801

6510

1

4,789 4,692 4,651 4,620 4,578

2620222

57

458

251933

671

569

3723

617

73

647

2

4,542

59

9

4,530

State member banks

211010

23

1,884

34

224

42 56

363

1,868 1,848 1,808 1,770 1,731

481

266

48

255

52

27316

15

1,688

58

1,642

Nonmember commercial banks

5242442

623

2411101103

7,241

5749341

1153

73136812

7,183

898432

962

55134616

7,176

10487314

992

65105710

7,181

8266313

851

639327

7,178

9276115

787

4511537

7,192

1289021521

763

578215

7,244

132989

25

7,300

.Increase

. . . Primary organizations

. . . Unclassified 1

. Decrease. . . Suspensions. . . Consolidations and absorptions:


. . . Voluntary liquidations

. . . Unclassified

.Number at end of year

.Increase


. . . Conversions from State member

. . . Conversions from nonmember

. . . Unclassified l

.Decrease

. . . Suspensions

. . .Consolidations and absorptions:Converted into branchesOther

. . . Voluntary liquidations

. . . Conversions to State member

. . . Conversions to nonmember

. . . Unclassified


.Increase


. . . Admissions of nonmember

. . . Crviversions from national

. . . Unclassified *

. Decrease

. . . Suspensions

. . . Consolidations and absorptions:Converted into branchesOther

. . .Voluntary liquidations

. . . Conversions to national

. . . Withdrawals from membership

. . . Unclassified


.Increase. . . Primary organizations. . . Conversions from national. . . Withdrawals from membership...Unclassified 1

. Decrease

. . . Suspensions

. . . Consolidations and absorptions:Converted into branchesOther

. . .Voluntary liquidations

. . . Conversions to national

. . .Admissions to membership

. . . Unclassified

. Number at end of year

33


6. NUMBER OF BANKS ON THE PAR LIST AND NOT ON THE PAR LIST,[End of

F. R. district and class of bank

All districts:On par list total . . . . . . . . .

MemberNonmember . . . . . . . . .

Not on par list (nonmember)

Boston:On par list, total

MemberNonmember


New York:On par list total

MemberNonmember . . .


Philadelphia:On par list total

MemberNonmember


Cleveland:On par list total

MemberNonmember


Richmond:On par list total

MemberNonmember


Atlanta:On par list total

MemberNonmember . . . . . .


Chicago:On par list total

MemberNonmember


St. Louis:On par list, total

MemberNonmember


Minneapolis:On par list total

MemberNonmember


Kansas City:On par list total

MemberNonmember


Dallas:On par list, total

MemberNonmember


San Francisco:On par list total

MemberNonmember


1941

11,5436,6194,9242,731

509347162

992797195

883659224

1,211673538

2

722447275289

39931782

704

2,237899

1,338220

1,058437621443

567452115716

1,646741905176

814573241152

50527722829

1942

11,4226,6794,7432,710

508348160

987799188

873652221

1,195685510

2

722460262288

40531887

693

2,226925

1,301215

1,035450585446

557454103718

1,608744864173

809570239149

49727422326

1943

11,5016,7384,7632,529

504346158

976806170

862646216

1,183707476

2

724465259284

40031684

696

2,349953

1,39686

1,051456595413

555454101715

1,593741852167

814575239143

49027321723

1944

11,5526,8144,7382,445

503347156

964816148

858647211

1,180710470

1

733468265274

40831692

696

2,361969

1,39271

1,073475598387

56646799

702

1,590749841164

824580244136

492270222

14

1945

11,8766,8844,9922,133

495340155

955814141

851647204

1,177721456

756472284249

489325164626

2,396995

1,40162

1,093490603366

588472116685

1,732751981

15

849585264120

495272223

10

1946

11,9576,8945,0632,086

490336154

936801135

846649197

1,168722446

785475310228

516331185628

2,416999

1,41757

1,111495616356

592470122680

1,731753978

19

868595273113

498268230

5

1947

12,0376,9175,1202,041

493336157

926797129

844647197

1,145710435

790475315220

547340207619

2,4281 0001,428

56

1,115495620352

609475134669

1,740758982

11

897613284110

503271232

4

1948

12,0616,9125,1492,011

495336159

908783125

841645196

1,134704430

798478320211

557346211626

2,4341,0031,431

54

1,126495631343

620476144658

1,740760980

9

906618288109

502268234

1

1949

12,1786,8875,2911,873

485329156

894768126

836640196

1,125700425

804479325208

577351226611

2,4901 0011,489

1,135496639337

678478200600

1,740756984

9

914623291108

500266234

1950

12,1626,8685,2941,853

475325150

873751122

835639196

1,117693424

804477327203

596353243601

2,4871,0051,482

1,134496638336

677All200598

1,749756993

9

922630292106

493266227

1951

12,1586,8355,3231,829

471323148

858737121

829632197

1,106685421

812477335196

618355263599

2,4831,0091,474

1,139495644325

677476201597

1,743751992

9

931633298103

491262229

34


BY FEDERAL RESERVE DISTRICT AND BY CLASS OF BANK, 1941-60year]

1952 1953 1954 1955 1956 1957 1958 1959 1960 F. R. district and class of bank

12,1226,7925,3301,820

469321148

837720117

820621199

1,090673417

812477335193

630360270594

2,4761,0051,471

1,140493647323

676476200600

1,7457529939

939634305101

488260228

12,0856,7375,3481,801

464316148

11,9606,6545,3061,787

454311143

11,8626,5375,3251,785

444303141

11,8156,4565,3591,754

435298137

11,7596,3875,3721,741

430293137

11,7226,3065,4161,719

422286136

11,6956,2275,4681,690

415276139

11,7116,1695,5421,672

408268140

814700114

787680107

728625103

68558699

65555996

630530100

60250795

58549194

799607192

777587190

743563180

717547170

698533165

672513159

651499152

636488148

1,065652413

1,029632397

1,002615387

986606380

976599377

964589375

938572366

928565363

814477337193

642363279589

2,4801,0111,469

817476341187

659373286585

2,4851,0171,468

821473348177

682379303586

2,4841,0221,462

819470349168

721391330577

2,4771,0201,457

816465351162

737397340575

2,4731,0191,454

806455351157

757401356566

2,4731,0181,455

797447350151

780403377557

2,4641,0051,459

785435350143

809418391558

2,470997

1,473

1,144493651316

677472205598

1,752753999

7

94763531298

487258229

1,142490652315

679473206601

1,7477499987

95763232592

427234193

1,151492659308

684473211601

1,752749

1,0037

96963433591

40220919315

1,165492673300

688473215599

1,758752

1,0066

98663435289

37818719115

1,167491676300

691474217599

1,755749

1,006

1,00163436784

36017418615

1,174489685293

694476218599

1,757749

1,0086

1,01463138383

35916919015

1,184488696290

701477224597

1,768755

1,0136

1,03663340381

359165194

1,187480707289

708474234598

1,770756

1,0144

1,06363243177

3621651973

All districts:. . . On par list, total

MemberNonmember

. . . Not on par list (nonmember)

Boston:. . . On par list, total

MemberNonmember


New York:. . . On par list, total

MemberNonmember


Philadelphia:. . . On par list, total

MemberNonmember


Cleveland:. . . On par list, total

MemberNonmember


Richmond:. . . On par list, total

MemberNonmember


Atlanta:. . . On par list, total

MemberNonmember


Chicago:. . . On par list, total

MemberNonmember


St. Louis:. . . On par list, total

MemberNonmember


Minneapolis:. . . On par list, total

MemberNonmember


Kansas City:. . . On par list, total

MemberNonmember


Dallas:. . . On par list, total

MemberNonmember


San Francisco:. . .On par list, total

MemberNonmember


35



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