Board of Governors of the Federal Reserve System

Data for figures presented with speech given by Governor Duke on March 30, 2009.

Figure 1
Growth of Home Mortgages (Annualized percent change)

Date	Growth of Home Mortgages
3/31/1952	12.72
6/30/1952	11.95
9/30/1952	12.12
12/31/1952	12.58
3/31/1953	12.87
6/30/1953	13.85
9/30/1953	11.52
12/31/1953	10.91
3/31/1954	10.37
6/30/1954	15.92
9/30/1954	10.84
12/31/1954	16.84
3/31/1955	16.96
6/30/1955	17.01
9/30/1955	15.25
12/31/1955	13.79
3/31/1956	12.54
6/30/1956	12.54
9/30/1956	11.16
12/31/1956	10.85
3/31/1957	10.07
6/30/1957	8.09
9/30/1957	8.08
12/31/1957	7.65
3/31/1958	7.55
6/30/1958	7.26
9/30/1958	9.35
12/31/1958	11.22
3/31/1959	11.08
6/30/1959	10.7
9/30/1959	11.08
12/31/1959	9.92
3/31/1960	9.14
6/30/1960	7.59
9/30/1960	8.63
12/31/1960	8.27
3/31/1961	7.89
6/30/1961	7.36
9/30/1961	8.99
12/31/1961	10.44
3/31/1962	7.84
6/30/1962	8.63
9/30/1962	9.58
12/31/1962	9.82
3/31/1963	8.64
6/30/1963	9.39
9/30/1963	10.52
12/31/1963	9.97
3/31/1964	9.33
6/30/1964	8.69
9/30/1964	9.31
12/31/1964	8.68
3/31/1965	8.4
6/30/1965	7.57
9/30/1965	8.64
12/31/1965	8.21
3/31/1966	7.83
6/30/1966	5.88
9/30/1966	5.13
12/31/1966	4.24
3/31/1967	4.02
6/30/1967	3.84
9/30/1967	7.33
12/31/1967	7.21
3/31/1968	6.75
6/30/1968	6.07
9/30/1968	7.06
12/31/1968	7.21
3/31/1969	7.03
6/30/1969	6.43
9/30/1969	7.06
12/31/1969	5.92
3/31/1970	4.34
6/30/1970	1.63
9/30/1970	4.17
12/31/1970	6.01
3/31/1971	7.64
6/30/1971	5.44
9/30/1971	9.11
12/31/1971	10.57
3/31/1972	10.92
6/30/1972	8.07
9/30/1972	11.03
12/31/1972	12.35
3/31/1973	12.64
6/30/1973	9.35
9/30/1973	10.15
12/31/1973	12.05
3/31/1974	10.58
6/30/1974	8.67
9/30/1974	9.57
12/31/1974	8.88
3/31/1975	7.63
6/30/1975	7.52
9/30/1975	9.38
12/31/1975	12.11
3/31/1976	12.71
6/30/1976	9.79
9/30/1976	12.27
12/31/1976	13.22
3/31/1977	14.95
6/30/1977	15
9/30/1977	16.6
12/31/1977	16.17
3/31/1978	15.98
6/30/1978	15.21
9/30/1978	17.12
12/31/1978	17.65
3/31/1979	17.36
6/30/1979	14.17
9/30/1979	15.36
12/31/1979	15.13
3/31/1980	11.5
6/30/1980	7.28
9/30/1980	11.19
12/31/1980	11.69
3/31/1981	7.81
6/30/1981	9.09
9/30/1981	6.1
12/31/1981	5.18
3/31/1982	5.43
6/30/1982	3.61
9/30/1982	3.26
12/31/1982	6.46
3/31/1983	8.53
6/30/1983	9.24
9/30/1983	10.86
12/31/1983	11.25
3/31/1984	13.04
6/30/1984	10.39
9/30/1984	9.4
12/31/1984	10.97
3/31/1985	15.52
6/30/1985	9.58
9/30/1985	15.93
12/31/1985	13.71
3/31/1986	10.9
6/30/1986	10.78
9/30/1986	15.51
12/31/1986	15.08
3/31/1987	13.81
6/30/1987	14.92
9/30/1987	11.37
12/31/1987	11.43
3/31/1988	10.58
6/30/1988	12.35
9/30/1988	10.98
12/31/1988	11.14
3/31/1989	7.59
6/30/1989	9.81
9/30/1989	11.52
12/31/1989	13.23
3/31/1990	9.11
6/30/1990	9.23
9/30/1990	7.91
12/31/1990	7.34
3/31/1991	7.85
6/30/1991	8.64
9/30/1991	3.08
12/31/1991	7.47
3/31/1992	7.26
6/30/1992	4.14
9/30/1992	6.62
12/31/1992	6.91
3/31/1993	3.45
6/30/1993	6.89
9/30/1993	5.81
12/31/1993	5.36
3/31/1994	5.66
6/30/1994	5.3
9/30/1994	4.74
12/31/1994	6.08
3/31/1995	4.76
6/30/1995	5.08
9/30/1995	5.05
12/31/1995	4.14
3/31/1996	7.64
6/30/1996	6.22
9/30/1996	4.76
12/31/1996	5.49
3/31/1997	6.74
6/30/1997	5.09
9/30/1997	7.91
12/31/1997	4.15
3/31/1998	8.52
6/30/1998	7
9/30/1998	6.19
12/31/1998	9.49
3/31/1999	10.34
6/30/1999	8.17
9/30/1999	9.67
12/31/1999	8.03
3/31/2000	8.03
6/30/2000	8.8
9/30/2000	8.67
12/31/2000	8.2
3/31/2001	9.06
6/30/2001	12.01
9/30/2001	10.67
12/31/2001	8.75
3/31/2002	12.09
6/30/2002	11.81
9/30/2002	13.02
12/31/2002	13.67
3/31/2003	12.51
6/30/2003	15.55
9/30/2003	14.18
12/31/2003	11.93
3/31/2004	11.72
6/30/2004	14.25
9/30/2004	12.03
12/31/2004	13.87
3/31/2005	10.98
6/30/2005	13.21
9/30/2005	13.66
12/31/2005	12.81
3/31/2006	13.33
6/30/2006	12.46
9/30/2006	9.19
12/31/2006	6.82
3/31/2007	7.81
6/30/2007	7.61
9/30/2007	4.62
12/31/2007	5.81
3/31/2008	2.4
6/30/2008	-0.31
9/30/2008	-2.29
12/31/2008	-1.55

Source: Flow of Funds, Federal Reserve Board

Figure 2
Bank Lending Standards for Mortgage Loans to Households (Net Percent)¹

Date	Subprime mortgages	Prime mortgages	Nontraditional mortgages	Mortgages
9/30/1990				8.7
12/31/1990				22.8
3/31/1991				32.7
6/30/1991				22.9
9/30/1991				12.5
12/31/1991				6.9
3/31/1992				3.5
6/30/1992				0
9/30/1992				-1.8
12/31/1992				-5.3
3/31/1993				-3.6
6/30/1993				3.4
9/30/1993				-11.7
12/31/1993				-15.5
3/31/1994				-5.5
6/30/1994				-7.1
9/30/1994				-5.5
12/31/1994				-5.5
3/31/1995				-1.8
6/30/1995				-5.5
9/30/1995				0
12/31/1995				3.7
3/31/1996				0
6/30/1996				-2
9/30/1996				4
12/31/1996				3.9
3/31/1997				3.8
6/30/1997				-1.8
9/30/1997				-2
12/31/1997				1.9
3/31/1998				0
6/30/1998				-5.8
9/30/1998				0
12/31/1998				-1.9
3/31/1999				2
6/30/1999				0
9/30/1999				-1.9
12/31/1999				-2
3/31/2000				-1.9
6/30/2000				-5.6
9/30/2000				0
12/31/2000				0
3/31/2001				0
6/30/2001				3.8
9/30/2001				3.8
12/31/2001				3.8
3/31/2002				1.9
6/30/2002				1.9
9/30/2002				3.9
12/31/2002				10
3/31/2003				11.1
6/30/2003				5.7
9/30/2003				1.9
12/31/2003				0
3/31/2004				-1.9
6/30/2004				-7.8
9/30/2004				-5.8
12/31/2004				1.9
3/31/2005				-7.8
6/30/2005				-2.1
9/30/2005				0
12/31/2005				-3.7
3/31/2006				0
6/30/2006				-9.4
9/30/2006				-9.3
12/31/2006				1.9
3/31/2007				16.4
6/30/2007	56.3	15.1	45.5
9/30/2007	56.3	14.3	40.5
12/31/2007	55.5	40.8	60
3/31/2008	71.5	52.9	84.6
6/30/2008	77.7	62.3	75.6
9/30/2008	85.7	74	84.4
12/31/2008	100	69.2	89.7
3/31/2009	50	47.1	48

¹Percentage of banks reporting tighter standards less percentage of banks reporting easier standards. Starting in 2007:Q2, standards for prime, nontraditional, and subprime mortgage reported separately. Return to table

Source: Sr. Loan Officer Opinion Survey. Data through 2008:Q4.

Figure 3
Growth of Consumer Credit (Annualized percent change)

Date	Growth of Consumer Credit
3/31/1952	9.41
6/30/1952	24.6
9/30/1952	16.49
12/31/1952	25.73
3/31/1953	25.87
6/30/1953	10.86
9/30/1953	9.28
12/31/1953	5.4
3/31/1954	-2.13
6/30/1954	3.63
9/30/1954	3.76
12/31/1954	10.21
3/31/1955	17.11
6/30/1955	21.78
9/30/1955	19.16
12/31/1955	14.59
3/31/1956	12.57
6/30/1956	7.78
9/30/1956	6.54
12/31/1956	5.95
3/31/1957	6.86
6/30/1957	6.39
9/30/1957	6.17
12/31/1957	2.77
3/31/1958	-2.57
6/30/1958	-2.26
9/30/1958	1.61
12/31/1958	5.49
3/31/1959	13.25
6/30/1959	13.26
9/30/1959	15.41
12/31/1959	17.16
3/31/1960	5.99
6/30/1960	10.53
9/30/1960	6.6
12/31/1960	4.4
3/31/1961	2.75
6/30/1961	-0.84
9/30/1961	3.51
12/31/1961	8.74
3/31/1962	5.6
6/30/1962	12.54
9/30/1962	7.89
12/31/1962	10.03
3/31/1963	11.33
6/30/1963	10.21
9/30/1963	12.64
12/31/1963	12.88
3/31/1964	13.79
6/30/1964	10.99
9/30/1964	12.18
12/31/1964	9.68
3/31/1965	13.7
6/30/1965	13.06
9/30/1965	10
12/31/1965	7.8
3/31/1966	10.33
6/30/1966	5.47
9/30/1966	3.59
12/31/1966	4.46
3/31/1967	3.74
6/30/1967	3.95
9/30/1967	5.52
12/31/1967	6.34
3/31/1968	7.15
6/30/1968	8.7
9/30/1968	9.52
12/31/1968	12.89
3/31/1969	10.58
6/30/1969	9.6
9/30/1969	6.08
12/31/1969	5.98
3/31/1970	4.02
6/30/1970	2.48
9/30/1970	4.83
12/31/1970	2.21
3/31/1971	13.67
6/30/1971	8.07
9/30/1971	10.65
12/31/1971	12.36
3/31/1972	11.09
6/30/1972	13.52
9/30/1972	10.68
12/31/1972	14.64
3/31/1973	14.8
6/30/1973	14.47
9/30/1973	10.53
12/31/1973	10.63
3/31/1974	7.43
6/30/1974	6.85
9/30/1974	4.83
12/31/1974	-0.83
3/31/1975	1.05
6/30/1975	-1.31
9/30/1975	5.91
12/31/1975	9.82
3/31/1976	9.31
6/30/1976	8.55
9/30/1976	9.13
12/31/1976	13.89
3/31/1977	11.87
6/30/1977	17.33
9/30/1977	14.65
12/31/1977	14.83
3/31/1978	14.98
6/30/1978	21.92
9/30/1978	15.59
12/31/1978	13.47
3/31/1979	14.53
6/30/1979	13.86
9/30/1979	13.76
12/31/1979	10.83
3/31/1980	5.05
6/30/1980	-7.04
9/30/1980	1.69
12/31/1980	4.27
3/31/1981	5.94
6/30/1981	6.31
9/30/1981	7.55
12/31/1981	1.94
3/31/1982	5.99
6/30/1982	5.39
9/30/1982	2.51
12/31/1982	5.69
3/31/1983	6.02
6/30/1983	9.42
9/30/1983	12.83
12/31/1983	18.32
3/31/1984	17.85
6/30/1984	21.36
9/30/1984	14.61
12/31/1984	15.1
3/31/1985	18.89
6/30/1985	14.39
9/30/1985	14.94
12/31/1985	12.12
3/31/1986	9.07
6/30/1986	10.8
9/30/1986	10.08
12/31/1986	5.42
3/31/1987	-2.03
6/30/1987	7.17
9/30/1987	8
12/31/1987	5.98
3/31/1988	8.37
6/30/1988	7.14
9/30/1988	5.51
12/31/1988	5.01
3/31/1989	6.09
6/30/1989	7.01
9/30/1989	4.54
12/31/1989	6.6
3/31/1990	2.23
6/30/1990	2.22
9/30/1990	3.87
12/31/1990	-0.89
3/31/1991	0.23
6/30/1991	-0.97
9/30/1991	-2.31
12/31/1991	-1.23
3/31/1992	0.83
6/30/1992	-0.93
9/30/1992	1.57
12/31/1992	3.03
3/31/1993	3.88
6/30/1993	5.1
9/30/1993	8.18
12/31/1993	11.86
3/31/1994	11.97
6/30/1994	14.78
9/30/1994	14.37
12/31/1994	16.63
3/31/1995	14.58
6/30/1995	13.84
9/30/1995	13.93
12/31/1995	12.36
3/31/1996	10
6/30/1996	9.19
9/30/1996	7.37
12/31/1996	8.47
3/31/1997	3.28
6/30/1997	5.75
9/30/1997	5.69
12/31/1997	6.92
3/31/1998	2.49
6/30/1998	12.2
9/30/1998	6.76
12/31/1998	6.75
3/31/1999	8.65
6/30/1999	7.22
9/30/1999	8.15
12/31/1999	6.29
3/31/2000	8.24
6/30/2000	11.62
9/30/2000	10.85
12/31/2000	12.86
3/31/2001	9.95
6/30/2001	7.3
9/30/2001	4.47
12/31/2001	11.88
3/31/2002	6.08
6/30/2002	7.25
9/30/2002	4.48
12/31/2002	4.55
3/31/2003	5.59
6/30/2003	5.75
9/30/2003	5.13
12/31/2003	4.01
3/31/2004	6.4
6/30/2004	3.37
9/30/2004	5.52
12/31/2004	6.15
3/31/2005	5.02
6/30/2005	4.72
9/30/2005	4.32
12/31/2005	2.71
3/31/2006	2.82
6/30/2006	5.39
9/30/2006	4.67
12/31/2006	4.87
3/31/2007	4.95
6/30/2007	5.4
9/30/2007	7.19
12/31/2007	4.13
3/31/2008	4.73
6/30/2008	3.91
9/30/2008	1.47
12/31/2008	-3.17

Source: Flow of Funds, Federal Reserve Board

Figure 4
Recent Corporate Sector Financing

Gross Bond Issuance, $Billions of dollars

Date	Investment-grade	Speculative-grade
4/30/2008	23.62	5.22
5/31/2008	31.98	18.66
6/30/2008	21.6	10.2
7/31/2008	11.94	4.57
8/31/2008	10.91	2.46
9/30/2008	8.57	2.95
10/31/2008	19.06	2.96
11/30/2008	18.5	0.52
12/31/2008	17.35	0.78
1/31/2009	33.55	5.4
2/28/2009	40.72	5.15

Data are not seasonally adjusted.

Source: Thomson Financial

Net Change in Short-Term Borrowing, Commercial paper outstanding, $Billions of dollars

Date	Commerical paper outstanding
1/31/2008	10.44
2/28/2008	6.91
3/31/2008	-3.71
4/30/2008	8.33
5/31/2008	-9.85
6/30/2008	-14.86
7/31/2008	-0.25
8/31/2008	27.25
9/30/2008	-8.36
10/31/2008	6.22
11/30/2008	2.21
12/31/2008	-4.95
1/31/2009	4.22
2/28/2009	-21.64

Data are seasonally adjusted and have been revised starting 2008:Q2.

Source: Depository Trust & Clearing Coproration, Federal Reserve Board

Description of Series "Net Change in Short-Term Borrowing, C&I loans at banks"

The C&I loans series in figure 4 is plotted at a monthly frequency from January 2008 to February 2009 by a red dotted line. From January to June 2008 the series fluctuates around $10.5 billion. After this, however, the series exhibits much wider swings. In August 2008 it dips down to near zero before jumping up to a little over $40 billion in September and October 2008. In November 2008 the series then drops down to about −$10 billion before moving down even further to about −$30 billion in December 2008. In January 2009 the series jumps up to a small positive number but after than drops down again to about −$20 billion.

Data are seasonally adjusted and have been revised starting 2008:Q2.

Source: Depository Trust & Clearing Coproration, Federal Reserve Board

Figure 5
Growth of Nonfinancial Corporate Business Debt (Annualized percent change)

Date	Growth of Nonfinancial Corporate Business Debt
3/31/1952	6.25
6/30/1952	6.92
9/30/1952	8.8
12/31/1952	8.58
3/31/1953	8.22
6/30/1953	4.3
9/30/1953	4.68
12/31/1953	0.65
3/31/1954	5.62
6/30/1954	1.32
9/30/1954	5.15
12/31/1954	3.81
3/31/1955	5.21
6/30/1955	8.74
9/30/1955	7.09
12/31/1955	15.03
3/31/1956	10.52
6/30/1956	9.94
9/30/1956	7.76
12/31/1956	8.41
3/31/1957	11.06
6/30/1957	10.6
9/30/1957	6.81
12/31/1957	5.45
3/31/1958	7.07
6/30/1958	2.89
9/30/1958	5.51
12/31/1958	7.92
3/31/1959	4.68
6/30/1959	9.16
9/30/1959	5.35
12/31/1959	6.85
3/31/1960	8.69
6/30/1960	7.21
9/30/1960	3.78
12/31/1960	6.08
3/31/1961	3.05
6/30/1961	5.02
9/30/1961	4.28
12/31/1961	7.75
3/31/1962	5.91
6/30/1962	6.88
9/30/1962	6.7
12/31/1962	7.05
3/31/1963	7.17
6/30/1963	4.24
9/30/1963	5.63
12/31/1963	8.64
3/31/1964	7.16
6/30/1964	5.81
9/30/1964	7.77
12/31/1964	10.51
3/31/1965	11.81
6/30/1965	7.59
9/30/1965	10.09
12/31/1965	11.51
3/31/1966	11.94
6/30/1966	12.74
9/30/1966	11.18
12/31/1966	9.69
3/31/1967	10.59
6/30/1967	8.17
9/30/1967	9.56
12/31/1967	14.67
3/31/1968	5.7
6/30/1968	9.2
9/30/1968	11.86
12/31/1968	14.78
3/31/1969	9.72
6/30/1969	11.02
9/30/1969	11.52
12/31/1969	11.6
3/31/1970	25.49
6/30/1970	10.99
9/30/1970	8.53
12/31/1970	5.37
3/31/1971	9.98
6/30/1971	6.93
9/30/1971	9.84
12/31/1971	3.84
3/31/1972	12.51
6/30/1972	7.37
9/30/1972	9.52
12/31/1972	9.53
3/31/1973	17.57
6/30/1973	14.83
9/30/1973	20.71
12/31/1973	13.91
3/31/1974	13.66
6/30/1974	12.53
9/30/1974	10.1
12/31/1974	7.45
3/31/1975	4.07
6/30/1975	1.84
9/30/1975	4.5
12/31/1975	2.48
3/31/1976	6.54
6/30/1976	6.96
9/30/1976	8.18
12/31/1976	7.98
3/31/1977	11.95
6/30/1977	9.39
9/30/1977	10.79
12/31/1977	13.63
3/31/1978	15.35
6/30/1978	10.97
9/30/1978	7.6
12/31/1978	10.27
3/31/1979	13.25
6/30/1979	9.97
9/30/1979	10.62
12/31/1979	8.17
3/31/1980	10.78
6/30/1980	4.86
9/30/1980	5.51
12/31/1980	11.27
3/31/1981	7.39
6/30/1981	17.47
9/30/1981	15.49
12/31/1981	11.44
3/31/1982	12.03
6/30/1982	11.28
9/30/1982	10.5
12/31/1982	1.47
3/31/1983	2.95
6/30/1983	7.6
9/30/1983	10.9
12/31/1983	9.36
3/31/1984	15.23
6/30/1984	17.27
9/30/1984	13.75
12/31/1984	16.46
3/31/1985	11.21
6/30/1985	10.29
9/30/1985	10.34
12/31/1985	16.99
3/31/1986	11.08
6/30/1986	12.15
9/30/1986	13.58
12/31/1986	15.9
3/31/1987	5.19
6/30/1987	8.27
9/30/1987	10.21
12/31/1987	10.25
3/31/1988	11.5
6/30/1988	10.07
9/30/1988	9.84
12/31/1988	10.75
3/31/1989	8.86
6/30/1989	9.77
9/30/1989	3.97
12/31/1989	5.27
3/31/1990	8.16
6/30/1990	5.85
9/30/1990	4.87
12/31/1990	3.42
3/31/1991	-2.71
6/30/1991	0.08
9/30/1991	-1.28
12/31/1991	-4.47
3/31/1992	0.7
6/30/1992	0.55
9/30/1992	1.43
12/31/1992	1.23
3/31/1993	-1.35
6/30/1993	1.51
9/30/1993	2.95
12/31/1993	1.77
3/31/1994	4.29
6/30/1994	4.68
9/30/1994	5.71
12/31/1994	5.34
3/31/1995	9.45
6/30/1995	11.1
9/30/1995	7.2
12/31/1995	6.54
3/31/1996	7.13
6/30/1996	8.22
9/30/1996	6.93
12/31/1996	4.25
3/31/1997	7.47
6/30/1997	9.71
9/30/1997	11.24
12/31/1997	12.53
3/31/1998	11.06
6/30/1998	11.95
9/30/1998	10.22
12/31/1998	9.19
3/31/1999	13.06
6/30/1999	7.9
9/30/1999	10.56
12/31/1999	6.84
3/31/2000	10.57
6/30/2000	10.42
9/30/2000	5.09
12/31/2000	6.78
3/31/2001	5.29
6/30/2001	6.03
9/30/2001	4.46
12/31/2001	2.32
3/31/2002	2.68
6/30/2002	0.19
9/30/2002	-1.87
12/31/2002	0.9
3/31/2003	2.4
6/30/2003	3.74
9/30/2003	0.49
12/31/2003	0.52
3/31/2004	3.15
6/30/2004	1.46
9/30/2004	4.05
12/31/2004	7.52
3/31/2005	4.33
6/30/2005	5.9
9/30/2005	5.98
12/31/2005	8.89
3/31/2006	8.08
6/30/2006	8.31
9/30/2006	4.76
12/31/2006	11.94
3/31/2007	11.18
6/30/2007	14.04
9/30/2007	13.79
12/31/2007	12.08
3/31/2008	6.15
6/30/2008	6.04
9/30/2008	4.36
12/31/2008	2.22

Source: Flow of Funds, Federal Reserve Board

Figure 6
Growth of Total Commercial Mortgages (Annualized percent change)

Date	Growth of Total Commercial Mortgages
3/31/1952	6.67
6/30/1952	6.24
9/30/1952	6.72
12/31/1952	6.67
3/31/1953	7.31
6/30/1953	7.61
9/30/1953	7.31
12/31/1953	9.26
3/31/1954	8.12
6/30/1954	11.18
9/30/1954	11.22
12/31/1954	12.66
3/31/1955	10.44
6/30/1955	11.21
9/30/1955	12.18
12/31/1955	11.82
3/31/1956	11.95
6/30/1956	12.59
9/30/1956	11.99
12/31/1956	11.4
3/31/1957	9.5
6/30/1957	8.48
9/30/1957	12
12/31/1957	13.31
3/31/1958	9.12
6/30/1958	11.03
9/30/1958	11.11
12/31/1958	15.54
3/31/1959	8.13
6/30/1959	11.58
9/30/1959	10.8
12/31/1959	12.91
3/31/1960	8.88
6/30/1960	9.96
9/30/1960	10.9
12/31/1960	10.77
3/31/1961	8.55
6/30/1961	12.33
9/30/1961	10.37
12/31/1961	14.61
3/31/1962	10.38
6/30/1962	12.61
9/30/1962	11.61
12/31/1962	14.46
3/31/1963	8.93
6/30/1963	12.46
9/30/1963	12.07
12/31/1963	12.82
3/31/1964	4.46
6/30/1964	7.03
9/30/1964	9.66
12/31/1964	10.68
3/31/1965	6.28
6/30/1965	9.35
9/30/1965	9.14
12/31/1965	9.17
3/31/1966	9.67
6/30/1966	12.48
9/30/1966	10.35
12/31/1966	7.63
3/31/1967	5.03
6/30/1967	8.64
9/30/1967	8.47
12/31/1967	8.16
3/31/1968	7.81
6/30/1968	9.31
9/30/1968	10.49
12/31/1968	11.8
3/31/1969	7.38
6/30/1969	7.66
9/30/1969	7.81
12/31/1969	9.21
3/31/1970	6.99
6/30/1970	11.67
9/30/1970	11.34
12/31/1970	10.69
3/31/1971	5.54
6/30/1971	10.9
9/30/1971	14.37
12/31/1971	14.1
3/31/1972	12.58
6/30/1972	17.08
9/30/1972	15.43
12/31/1972	21.56
3/31/1973	14.62
6/30/1973	19.47
9/30/1973	16.22
12/31/1973	14.48
3/31/1974	11.22
6/30/1974	14.32
9/30/1974	7.5
12/31/1974	9.19
3/31/1975	2.84
6/30/1975	8.03
9/30/1975	9.37
12/31/1975	9.96
3/31/1976	4.74
6/30/1976	7.68
9/30/1976	9.12
12/31/1976	9.5
3/31/1977	7.39
6/30/1977	6.53
9/30/1977	12.08
12/31/1977	15.43
3/31/1978	9.68
6/30/1978	10.88
9/30/1978	10.88
12/31/1978	10.75
3/31/1979	8.4
6/30/1979	11.93
9/30/1979	13.54
12/31/1979	10.42
3/31/1980	7.46
6/30/1980	8.12
9/30/1980	7.95
12/31/1980	9.61
3/31/1981	11.71
6/30/1981	16.43
9/30/1981	14.97
12/31/1981	15.2
3/31/1982	9.26
6/30/1982	11.78
9/30/1982	13.48
12/31/1982	11.62
3/31/1983	15.12
6/30/1983	16.04
9/30/1983	15.28
12/31/1983	16.52
3/31/1984	15.47
6/30/1984	20.83
9/30/1984	20.56
12/31/1984	17.81
3/31/1985	14.47
6/30/1985	15.47
9/30/1985	13.52
12/31/1985	12.72
3/31/1986	11.22
6/30/1986	8.34
9/30/1986	10
12/31/1986	13.67
3/31/1987	10.97
6/30/1987	10.03
9/30/1987	8.11
12/31/1987	13.38
3/31/1988	9.11
6/30/1988	12.5
9/30/1988	13.32
12/31/1988	12.75
3/31/1989	6.44
6/30/1989	3.34
9/30/1989	5.13
12/31/1989	0.46
3/31/1990	6.38
6/30/1990	1.38
9/30/1990	2
12/31/1990	1.12
3/31/1991	3.74
6/30/1991	1.41
9/30/1991	-5.63
12/31/1991	-6.05
3/31/1992	-4.61
6/30/1992	-3.35
9/30/1992	-5.83
12/31/1992	-8.22
3/31/1993	-3.79
6/30/1993	-5.18
9/30/1993	-2.74
12/31/1993	-6.46
3/31/1994	-3.74
6/30/1994	-0.05
9/30/1994	1.33
12/31/1994	-4.29
3/31/1995	3.52
6/30/1995	1.33
9/30/1995	3.34
12/31/1995	-1.9
3/31/1996	4.62
6/30/1996	4.75
9/30/1996	2.46
12/31/1996	4.68
3/31/1997	4.91
6/30/1997	8.83
9/30/1997	9.96
12/31/1997	8.04
3/31/1998	9.01
6/30/1998	8.64
9/30/1998	10.75
12/31/1998	14.15
3/31/1999	12.18
6/30/1999	9.26
9/30/1999	11.12
12/31/1999	10.71
3/31/2000	11.68
6/30/2000	10.66
9/30/2000	8.45
12/31/2000	7.96
3/31/2001	8.74
6/30/2001	8.12
9/30/2001	11.12
12/31/2001	8.65
3/31/2002	6.75
6/30/2002	8.05
9/30/2002	7.51
12/31/2002	7.97
3/31/2003	7.63
6/30/2003	9.2
9/30/2003	10.59
12/31/2003	8.14
3/31/2004	10.91
6/30/2004	9.59
9/30/2004	11.29
12/31/2004	11.79
3/31/2005	11.04
6/30/2005	13.57
9/30/2005	15.88
12/31/2005	16.06
3/31/2006	14.83
6/30/2006	13.49
9/30/2006	14.2
12/31/2006	12.34
3/31/2007	9.34
6/30/2007	14.51
9/30/2007	15.54
12/31/2007	9.17
3/31/2008	8.01
6/30/2008	5.54
9/30/2008	4.39
12/31/2008	1.37

Source: Flow of Funds, Federal Reserve Board

Figure 7
Disposition of Commercial Mortgages Outstanding (Percent)

Date	Depositories	Insurance Companies	CMBS	Other Financial Intermediaries
3/31/1952	0.30686	0.31911	0	0.37402
6/30/1952	0.30847	0.3201	0	0.37144
9/30/1952	0.31001	0.32088	0	0.36911
12/31/1952	0.31222	0.32118	0	0.3666
3/31/1953	0.31364	0.32162	0	0.36473
6/30/1953	0.31535	0.32184	0	0.36281
9/30/1953	0.31679	0.32211	0	0.3611
12/31/1953	0.31791	0.32235	0	0.35974
3/31/1954	0.31921	0.32154	0	0.35926
6/30/1954	0.32222	0.31959	0	0.35818
9/30/1954	0.32475	0.31814	0	0.35711
12/31/1954	0.32513	0.31849	0	0.35638
3/31/1955	0.32812	0.3181	0	0.35379
6/30/1955	0.33083	0.31632	0	0.35284
9/30/1955	0.33333	0.31474	0	0.35193
12/31/1955	0.33259	0.31541	0	0.352
3/31/1956	0.33517	0.31502	0	0.3498
6/30/1956	0.33617	0.31523	0	0.34861
9/30/1956	0.33719	0.31544	0	0.34737
12/31/1956	0.33624	0.31757	0	0.34619
3/31/1957	0.33377	0.32015	0	0.34609
6/30/1957	0.33237	0.32171	0	0.34592
9/30/1957	0.33282	0.32102	0	0.34615
12/31/1957	0.33171	0.3224	0	0.34589
3/31/1958	0.33145	0.32311	0	0.34544
6/30/1958	0.33499	0.3197	0	0.34531
9/30/1958	0.3367	0.31865	0	0.34464
12/31/1958	0.33947	0.31717	0	0.34336
3/31/1959	0.34314	0.31379	0	0.34307
6/30/1959	0.34953	0.30799	0	0.34249
9/30/1959	0.35099	0.30748	0	0.34153
12/31/1959	0.35206	0.30657	0	0.34137
3/31/1960	0.35257	0.30629	0	0.34114
6/30/1960	0.3537	0.3058	0	0.3405
9/30/1960	0.35526	0.30469	0	0.34004
12/31/1960	0.35537	0.30515	0	0.33948
3/31/1961	0.35708	0.30453	0	0.33838
6/30/1961	0.35903	0.3037	0	0.33728
9/30/1961	0.36081	0.30256	0	0.33662
12/31/1961	0.36387	0.29843	0	0.3377
3/31/1962	0.37314	0.29752	0	0.32934
6/30/1962	0.38313	0.29408	0	0.32278
9/30/1962	0.39094	0.2933	0	0.31576
12/31/1962	0.39632	0.2965	0	0.30718
3/31/1963	0.40326	0.29721	0	0.29953
6/30/1963	0.41261	0.29614	0	0.29124
9/30/1963	0.4206	0.29656	0	0.28284
12/31/1963	0.42548	0.30016	0	0.27435
3/31/1964	0.43348	0.29962	0	0.2669
6/30/1964	0.44233	0.29843	0	0.25925
9/30/1964	0.45272	0.29596	0	0.25132
12/31/1964	0.45952	0.29713	0	0.24334
3/31/1965	0.4643	0.29926	0	0.23645
6/30/1965	0.47202	0.29885	0	0.22913
9/30/1965	0.47838	0.29987	0	0.22175
12/31/1965	0.48158	0.3042	0	0.21423
3/31/1966	0.48431	0.30501	0	0.21067
6/30/1966	0.4861	0.30473	0	0.20916
9/30/1966	0.4859	0.30633	0	0.20777
12/31/1966	0.4849	0.30894	0	0.20616
3/31/1967	0.48389	0.31284	0	0.20327
6/30/1967	0.48695	0.31253	0	0.20051
9/30/1967	0.49065	0.31139	0	0.19795
12/31/1967	0.49305	0.31173	0	0.19522
3/31/1968	0.49605	0.31124	0	0.19271
6/30/1968	0.50132	0.30891	0	0.18977
9/30/1968	0.50472	0.30737	0	0.18791
12/31/1968	0.50754	0.30925	0	0.18321
3/31/1969	0.50795	0.30796	0	0.18409
6/30/1969	0.50939	0.30691	0	0.1837
9/30/1969	0.51036	0.30652	0	0.18312
12/31/1969	0.50615	0.31081	0	0.18303
3/31/1970	0.51015	0.31501	0	0.17484
6/30/1970	0.5009	0.31217	0	0.18692
9/30/1970	0.49357	0.30608	0	0.20035
12/31/1970	0.49372	0.30361	0	0.20268
3/31/1971	0.49738	0.30407	0	0.19855
6/30/1971	0.50478	0.30067	0	0.19455
9/30/1971	0.51256	0.29713	0	0.19031
12/31/1971	0.51761	0.2962	0	0.1862
3/31/1972	0.52206	0.29058	0	0.18736
6/30/1972	0.52732	0.28337	0	0.18931
9/30/1972	0.53419	0.27927	0	0.18654
12/31/1972	0.53279	0.27844	0	0.18877
3/31/1973	0.53823	0.27469	0	0.18708
6/30/1973	0.54094	0.27043	0	0.18862
9/30/1973	0.5445	0.26986	0	0.18564
12/31/1973	0.54286	0.2742	0	0.18294
3/31/1974	0.54373	0.27326	0	0.18301
6/30/1974	0.54755	0.2721	0	0.18035
9/30/1974	0.55089	0.27509	0	0.17402
12/31/1974	0.54564	0.27929	0	0.17507
3/31/1975	0.54369	0.28202	0	0.17429
6/30/1975	0.54637	0.2831	0	0.17053
9/30/1975	0.5515	0.28163	0	0.16687
12/31/1975	0.55518	0.28206	0	0.16276
3/31/1976	0.55704	0.28249	0	0.16047
6/30/1976	0.56063	0.28087	0	0.1585
9/30/1976	0.56409	0.27964	0	0.15627
12/31/1976	0.56518	0.28209	0	0.15273
3/31/1977	0.56578	0.28111	0	0.15311
6/30/1977	0.56769	0.28176	0	0.15055
9/30/1977	0.56981	0.28091	0	0.14928
12/31/1977	0.56889	0.28365	0	0.14745
3/31/1978	0.57053	0.28302	0	0.14645
6/30/1978	0.57612	0.28331	0	0.14057
9/30/1978	0.57565	0.28495	0	0.1394
12/31/1978	0.57222	0.29193	0	0.13584
3/31/1979	0.57055	0.29339	0	0.13606
6/30/1979	0.57205	0.29415	0	0.1338
9/30/1979	0.57224	0.2949	0	0.13286
12/31/1979	0.57001	0.2989	0	0.13109
3/31/1980	0.56433	0.30473	0	0.13094
6/30/1980	0.56119	0.30758	0	0.13123
9/30/1980	0.55772	0.3104	0	0.13189
12/31/1980	0.55366	0.31419	0	0.13215
3/31/1981	0.54635	0.31278	0	0.14087
6/30/1981	0.53909	0.30779	0	0.15312
9/30/1981	0.53268	0.30222	0	0.1651
12/31/1981	0.52333	0.29866	0	0.178
3/31/1982	0.51971	0.29672	0	0.18358
6/30/1982	0.51935	0.29352	0	0.18713
9/30/1982	0.52097	0.28693	0	0.19211
12/31/1982	0.51635	0.28514	0	0.19851
3/31/1983	0.51682	0.28038	0	0.2028
6/30/1983	0.52237	0.27586	0	0.20177
9/30/1983	0.5274	0.27373	0	0.19887
12/31/1983	0.5304	0.27256	0	0.19703
3/31/1984	0.53964	0.26229	0	0.19808
6/30/1984	0.54367	0.25609	0	0.20025
9/30/1984	0.54773	0.24875	0	0.20352
12/31/1984	0.55339	0.24124	0	0.20538
3/31/1985	0.55588	0.23876	0	0.20535
6/30/1985	0.55749	0.23785	0.00017	0.20449
9/30/1985	0.56103	0.2363	0.00016	0.20251
12/31/1985	0.55313	0.24183	0.00119	0.20385
3/31/1986	0.56055	0.24203	0.00248	0.19494
6/30/1986	0.56244	0.24737	0.00333	0.18686
9/30/1986	0.56614	0.24989	0.00333	0.18064
12/31/1986	0.57823	0.25461	0.00312	0.16404
3/31/1987	0.60202	0.24341	0.00366	0.15092
6/30/1987	0.60825	0.24431	0.00474	0.1427
9/30/1987	0.61578	0.24567	0.00466	0.13389
12/31/1987	0.61417	0.24748	0.00545	0.13289
3/31/1988	0.601	0.25223	0.00537	0.1414
6/30/1988	0.59645	0.24992	0.00584	0.14779
9/30/1988	0.58407	0.25207	0.00628	0.15759
12/31/1988	0.57947	0.25209	0.00725	0.16119
3/31/1989	0.58875	0.25139	0.00765	0.15221
6/30/1989	0.59499	0.25483	0.0086	0.14158
9/30/1989	0.59883	0.2576	0.00984	0.13373
12/31/1989	0.59836	0.26457	0.01147	0.12561
3/31/1990	0.59349	0.26761	0.01246	0.12644
6/30/1990	0.58445	0.27103	0.01226	0.13227
9/30/1990	0.5804	0.27063	0.01263	0.13633
12/31/1990	0.57916	0.27047	0.01468	0.13569
3/31/1991	0.5775	0.27002	0.01508	0.13741
6/30/1991	0.5738	0.27148	0.01604	0.13868
9/30/1991	0.56952	0.27401	0.01662	0.13986
12/31/1991	0.57234	0.26756	0.01776	0.14234
3/31/1992	0.56771	0.26823	0.01918	0.14488
6/30/1992	0.56643	0.26605	0.02191	0.14562
9/30/1992	0.56574	0.26408	0.02681	0.14337
12/31/1992	0.56811	0.26218	0.02779	0.14192
3/31/1993	0.56712	0.26287	0.03112	0.13889
6/30/1993	0.5674	0.26283	0.03468	0.13508
9/30/1993	0.57043	0.25915	0.03563	0.13479
12/31/1993	0.56557	0.24709	0.04277	0.14458
3/31/1994	0.56764	0.24528	0.04427	0.14282
6/30/1994	0.56766	0.24133	0.0464	0.1446
9/30/1994	0.56725	0.23884	0.04975	0.14416
12/31/1994	0.57219	0.23866	0.05186	0.13729
3/31/1995	0.57657	0.23624	0.05096	0.13622
6/30/1995	0.577	0.23488	0.05177	0.13635
9/30/1995	0.57617	0.23541	0.0528	0.13563
12/31/1995	0.58114	0.22829	0.05733	0.13323
3/31/1996	0.57859	0.22517	0.05977	0.13647
6/30/1996	0.5791	0.22194	0.06121	0.13775
9/30/1996	0.58382	0.21779	0.06229	0.13611
12/31/1996	0.58471	0.21134	0.07062	0.13334
3/31/1997	0.58094	0.2086	0.07188	0.13857
6/30/1997	0.57774	0.20378	0.07527	0.14321
9/30/1997	0.5778	0.19676	0.07876	0.14668
12/31/1997	0.56964	0.19333	0.08891	0.14812
3/31/1998	0.56395	0.18964	0.10109	0.14532
6/30/1998	0.55628	0.18648	0.11625	0.14099
9/30/1998	0.55693	0.18135	0.11943	0.1423
12/31/1998	0.55066	0.17943	0.13294	0.13698
3/31/1999	0.54912	0.17969	0.14006	0.13113
6/30/1999	0.55137	0.1803	0.14273	0.12559
9/30/1999	0.53759	0.17118	0.14357	0.14766
12/31/1999	0.54162	0.17005	0.14669	0.14165
3/31/2000	0.55021	0.16567	0.14715	0.13697
6/30/2000	0.55332	0.163	0.14949	0.13419
9/30/2000	0.55564	0.16123	0.15185	0.13128
12/31/2000	0.55467	0.15831	0.15794	0.12908
3/31/2001	0.55863	0.15499	0.15978	0.1266
6/30/2001	0.55971	0.1531	0.16378	0.1234
9/30/2001	0.56211	0.15055	0.1673	0.12005
12/31/2001	0.56019	0.14841	0.17428	0.11713
3/31/2002	0.56536	0.14673	0.17471	0.1132
6/30/2002	0.56658	0.14469	0.17587	0.11286
9/30/2002	0.56928	0.1427	0.17704	0.11097
12/31/2002	0.56787	0.14258	0.17976	0.10979
3/31/2003	0.57124	0.14142	0.18018	0.10716
6/30/2003	0.56824	0.14033	0.18524	0.10618
9/30/2003	0.56908	0.13862	0.18718	0.10512
12/31/2003	0.56452	0.13655	0.19288	0.10605
3/31/2004	0.56714	0.13397	0.1929	0.10599
6/30/2004	0.56797	0.13172	0.19774	0.10257
9/30/2004	0.57029	0.13035	0.19753	0.10184
12/31/2004	0.56889	0.12888	0.2004	0.10184
3/31/2005	0.56906	0.12654	0.20478	0.09963
6/30/2005	0.56786	0.12381	0.21139	0.09695
9/30/2005	0.57046	0.12046	0.21347	0.0956
12/31/2005	0.56432	0.11759	0.22522	0.09287
3/31/2006	0.56383	0.11457	0.23	0.0916
6/30/2006	0.56396	0.11321	0.23219	0.09065
9/30/2006	0.5628	0.11101	0.23568	0.0905
12/31/2006	0.55809	0.10813	0.2434	0.09037
3/31/2007	0.55124	0.10678	0.2521	0.08988
6/30/2007	0.54669	0.10509	0.25975	0.08846
9/30/2007	0.5398	0.10298	0.26863	0.08859
12/31/2007	0.54279	0.10322	0.26622	0.08777
3/31/2008	0.54688	0.10395	0.2591	0.09007
6/30/2008	0.55242	0.10392	0.25319	0.09047
9/30/2008	0.55674	0.10444	0.24794	0.09088
12/31/2008	0.56271	0.10381	0.24316	0.09032

Source: Flow of Funds, Federal Reserve Board

Figure 8
Banks’ Share of U.S. Financial Intermediation
Annually as of December, 1952-2008 (Percent)

Date	Banks	Thrifts	Insurance Companies	Other Financial Intermediaries
12/31/1952	0.503708321	0.157092476	0.291560986	0.047638216
12/31/1953	0.485595442	0.165669137	0.297600578	0.051134844
12/31/1954	0.480096812	0.172132748	0.29766306	0.05010738
12/31/1955	0.460680758	0.182966003	0.298562317	0.057790922
12/31/1956	0.450055041	0.191724507	0.301234932	0.05698552
12/31/1957	0.438939337	0.198756898	0.303429371	0.058874394
12/31/1958	0.442175472	0.204374851	0.298986373	0.054463304
12/31/1959	0.426668586	0.213984318	0.299128651	0.060218445
12/31/1960	0.419514091	0.218804029	0.295662952	0.066018928
12/31/1961	0.421026255	0.224895479	0.289655549	0.064422717
12/31/1962	0.421760194	0.230043354	0.282805065	0.065391387
12/31/1963	0.417985901	0.239034772	0.275930327	0.067049001
12/31/1964	0.418757659	0.242912567	0.26839578	0.069933994
12/31/1965	0.425108588	0.24181634	0.261259805	0.071815267
12/31/1966	0.424714992	0.238835967	0.262705236	0.073743804
12/31/1967	0.438804889	0.237736894	0.255579904	0.067878313
12/31/1968	0.447867245	0.234660296	0.247020119	0.07045234
12/31/1969	0.443502699	0.234810513	0.243062535	0.078624253
12/31/1970	0.448791277	0.233374697	0.238636957	0.079197069
12/31/1971	0.452923676	0.242966786	0.225707569	0.078401969
12/31/1972	0.454990169	0.248549039	0.214435642	0.08202515
12/31/1973	0.463780425	0.243692313	0.205368659	0.087158603
12/31/1974	0.473293465	0.237259584	0.205181452	0.084265499
12/31/1975	0.460774389	0.248843714	0.215511759	0.074870137
12/31/1976	0.448986443	0.25729837	0.216776566	0.076938621
12/31/1977	0.441950657	0.26198357	0.218781203	0.07728457
12/31/1978	0.443630742	0.258929301	0.218258655	0.079181302
12/31/1979	0.441776699	0.251149349	0.219194837	0.087879115
12/31/1980	0.438333782	0.24559544	0.224292475	0.091778302
12/31/1981	0.429121754	0.229787677	0.224161182	0.116929388
12/31/1982	0.42193016	0.215308403	0.234912754	0.127848683
12/31/1983	0.415368248	0.224646005	0.234990441	0.124995306
12/31/1984	0.401927345	0.227441445	0.229161364	0.141469846
12/31/1985	0.390158877	0.215259569	0.225933455	0.168648099
12/31/1986	0.377108996	0.205317428	0.221906679	0.195666898
12/31/1987	0.367468684	0.207275591	0.226050503	0.199205223
12/31/1988	0.36191342	0.205702297	0.231248647	0.201135637
12/31/1989	0.358313526	0.178116373	0.239102701	0.224467401
12/31/1990	0.358264522	0.152027598	0.25106016	0.238647719
12/31/1991	0.356619199	0.126636813	0.260618466	0.256125522
12/31/1992	0.35234152	0.112014277	0.264014765	0.271629439
12/31/1993	0.346155035	0.102377399	0.26766586	0.283801706
12/31/1994	0.349933234	0.099019166	0.271567999	0.279479601
12/31/1995	0.348729721	0.09047613	0.263981579	0.29681257
12/31/1996	0.347376156	0.087431859	0.25770151	0.307490475
12/31/1997	0.34912024	0.08039852	0.252250617	0.318230623
12/31/1998	0.341551492	0.076048119	0.235430944	0.346969446
12/31/1999	0.335412859	0.074511385	0.227375999	0.362699757
12/31/2000	0.339154413	0.073563135	0.207771153	0.379511299
12/31/2001	0.32874812	0.071306457	0.199980172	0.399965251
12/31/2002	0.330648661	0.068522449	0.202194848	0.398634042
12/31/2003	0.32547959	0.070081233	0.203600204	0.400838972
12/31/2004	0.327634649	0.070152757	0.198242714	0.40396988
12/31/2005	0.325314961	0.07227736	0.188698623	0.413709056
12/31/2006	0.326304262	0.061653188	0.177394437	0.434648113
12/31/2007	0.327917126	0.059160129	0.171002521	0.441920225
12/31/2008	0.334071395	0.04637624	0.164889764	0.454662601

Source: Flow of Funds, Federal Reserve Board

Figure 9
Depositories’ Share of U.S. Financial Intermediation
Annually as of December, 1952-2008 (Percent)

Date	Depositories	Insurance Companies	Other Financial Intermediaries
12/31/1952	0.660800797	0.291560986	0.047638216
12/31/1953	0.651264579	0.297600578	0.051134844
12/31/1954	0.65222956	0.29766306	0.05010738
12/31/1955	0.643646761	0.298562317	0.057790922
12/31/1956	0.641779548	0.301234932	0.05698552
12/31/1957	0.637696235	0.303429371	0.058874394
12/31/1958	0.646550323	0.298986373	0.054463304
12/31/1959	0.640652904	0.299128651	0.060218445
12/31/1960	0.63831812	0.295662952	0.066018928
12/31/1961	0.645921734	0.289655549	0.064422717
12/31/1962	0.651803548	0.282805065	0.065391387
12/31/1963	0.657020673	0.275930327	0.067049001
12/31/1964	0.661670226	0.26839578	0.069933994
12/31/1965	0.666924928	0.261259805	0.071815267
12/31/1966	0.663550959	0.262705236	0.073743804
12/31/1967	0.676541783	0.255579904	0.067878313
12/31/1968	0.682527541	0.247020119	0.07045234
12/31/1969	0.678313212	0.243062535	0.078624253
12/31/1970	0.682165974	0.238636957	0.079197069
12/31/1971	0.695890462	0.225707569	0.078401969
12/31/1972	0.703539208	0.214435642	0.08202515
12/31/1973	0.707472738	0.205368659	0.087158603
12/31/1974	0.710553049	0.205181452	0.084265499
12/31/1975	0.709618103	0.215511759	0.074870137
12/31/1976	0.706284813	0.216776566	0.076938621
12/31/1977	0.703934227	0.218781203	0.07728457
12/31/1978	0.702560043	0.218258655	0.079181302
12/31/1979	0.692926048	0.219194837	0.087879115
12/31/1980	0.683929222	0.224292475	0.091778302
12/31/1981	0.658909431	0.224161182	0.116929388
12/31/1982	0.637238563	0.234912754	0.127848683
12/31/1983	0.640014253	0.234990441	0.124995306
12/31/1984	0.62936879	0.229161364	0.141469846
12/31/1985	0.605418446	0.225933455	0.168648099
12/31/1986	0.582426424	0.221906679	0.195666898
12/31/1987	0.574744275	0.226050503	0.199205223
12/31/1988	0.567615717	0.231248647	0.201135637
12/31/1989	0.536429899	0.239102701	0.224467401
12/31/1990	0.51029212	0.25106016	0.238647719
12/31/1991	0.483256012	0.260618466	0.256125522
12/31/1992	0.464355797	0.264014765	0.271629439
12/31/1993	0.448532434	0.26766586	0.283801706
12/31/1994	0.4489524	0.271567999	0.279479601
12/31/1995	0.439205851	0.263981579	0.29681257
12/31/1996	0.434808015	0.25770151	0.307490475
12/31/1997	0.42951876	0.252250617	0.318230623
12/31/1998	0.417599611	0.235430944	0.346969446
12/31/1999	0.409924244	0.227375999	0.362699757
12/31/2000	0.412717548	0.207771153	0.379511299
12/31/2001	0.400054577	0.199980172	0.399965251
12/31/2002	0.39917111	0.202194848	0.398634042
12/31/2003	0.395560823	0.203600204	0.400838972
12/31/2004	0.397787406	0.198242714	0.40396988
12/31/2005	0.397592321	0.188698623	0.413709056
12/31/2006	0.38795745	0.177394437	0.434648113
12/31/2007	0.387077255	0.171002521	0.441920225
12/31/2008	0.380447635	0.164889764	0.454662601

Source: Flow of Funds, Federal Reserve Board

Figure 10
Bank Assets Adjusted for Basel Credit Equivalents
As a Percentage of Financial Intermediary Assets
Annually as of December, 1952-2008 (Percent)

Date	Banks	Banks and Basel Credit Equivalents	Other Financial Intermediaries
12/31/1952	0.503708321		0.047638216
12/31/1953	0.485595442		0.051134844
12/31/1954	0.480096812		0.05010738
12/31/1955	0.460680758		0.057790922
12/31/1956	0.450055041		0.05698552
12/31/1957	0.438939337		0.058874394
12/31/1958	0.442175472		0.054463304
12/31/1959	0.426668586		0.060218445
12/31/1960	0.419514091		0.066018928
12/31/1961	0.421026255		0.064422717
12/31/1962	0.421760194		0.065391387
12/31/1963	0.417985901		0.067049001
12/31/1964	0.418757659		0.069933994
12/31/1965	0.425108588		0.071815267
12/31/1966	0.424714992		0.073743804
12/31/1967	0.438804889		0.067878313
12/31/1968	0.447867245		0.07045234
12/31/1969	0.443502699		0.078624253
12/31/1970	0.448791277		0.079197069
12/31/1971	0.452923676		0.078401969
12/31/1972	0.454990169		0.08202515
12/31/1973	0.463780425		0.087158603
12/31/1974	0.473293465		0.084265499
12/31/1975	0.460774389		0.074870137
12/31/1976	0.448986443		0.076938621
12/31/1977	0.441950657		0.07728457
12/31/1978	0.443630742		0.079181302
12/31/1979	0.441776699		0.087879115
12/31/1980	0.438333782		0.091778302
12/31/1981	0.429121754		0.116929388
12/31/1982	0.42193016		0.127848683
12/31/1983	0.415368248	0.439842614	0.124995306
12/31/1984	0.401927345	0.431911345	0.141469846
12/31/1985	0.390158877	0.420935141	0.168648099
12/31/1986	0.377108996	0.406913876	0.195666898
12/31/1987	0.367468684	0.396767925	0.199205223
12/31/1988	0.36191342	0.391079389	0.201135637
12/31/1989	0.358313526	0.390178436	0.224467401
12/31/1990	0.358264522	0.391963847	0.238647719
12/31/1991	0.356619199	0.387142829	0.256125522
12/31/1992	0.35234152	0.385543454	0.271629439
12/31/1993	0.346155035	0.380944998	0.283801706
12/31/1994	0.349933234	0.386964678	0.279479601
12/31/1995	0.348729721	0.387399817	0.29681257
12/31/1996	0.347376156	0.390547859	0.307490475
12/31/1997	0.34912024	0.39799363	0.318230623
12/31/1998	0.341551492	0.390461273	0.346969446
12/31/1999	0.335412859	0.385542606	0.362699757
12/31/2000	0.339154413	0.389875393	0.379511299
12/31/2001	0.32874812	0.391696865	0.399965251
12/31/2002	0.330648661	0.400953931	0.398634042
12/31/2003	0.32547959	0.403386038	0.400838972
12/31/2004	0.327634649	0.412562459	0.40396988
12/31/2005	0.325314961	0.415530396	0.413709056
12/31/2006	0.326304262	0.424696036	0.434648113
12/31/2007	0.327917126	0.430585847	0.441920225
12/31/2008	0.334071395	0.419063629	0.454662601

Source: Flow of Funds, Federal Reserve Board

Figure 11
A Decomposition of Changes in Bank Lending Growth at U.S. Banking Organizations (Billions of dollars)

Size and Group	Top of Bar	Base of Bar
Five Largest
C&I loans	0	-19
Real estate loans	-19	-66
Consumer loans	-66	-79
Other loans	-79	-119
Six to Twenty-five
C&I loans	3	0
Real estate loans	10	3
Consumer loans	14	10
Other loans	14	-9
Below Twenty-five
C&I loans	4	0
Real estate loans	21	4
Consumer loans	30	22
Other loans	30	27

Source: Consolidated reports of condition and income as of December 31, 2008.

Figure 12
A Decomposition of Changes in Bank Liability Growth at U.S. Banking Organizations (Billions of dollars)

Size and Group	Top of Bar	Base of Bar
Five Largest
Core Deposits	111	0
Large Time Deposits	118	111
Other Managed Liabilities	118	62
Other Liabilities	62	55
Six to Twenty-five
Core Deposits	85	0
Large Time Deposits	85	2
Other Managed Liabilities	2	-62
Other Liabilities	-38	-62
Below Twenty-five
Core Deposits	129	0
Large Time Deposits	150	129
Other Managed Liabilities	180	150
Other Liabilities	254	180

Source: Consolidated reports of condition and income as of December 31, 2008.