APPENDIX TABLE III-I.-Net annual acquisition of financial assets by State and local governments, 1954–59

Source: Federal Reserve Bulletin, August 1959, p. 1051 for 1954 data; August 1960, p. 935 for 1955-59 data; APPENDIX TABLE III-J.-Distribution of fire and casualty insurance companies as a source of funds in the capital market, 1948–59

Amount Percent of Amount Percent of Amount Percent of Amount Percent of

Source: Joint Investment Bulletin, No. 396, May 11, 1960, Life Insurance Association of America, p. 22. APPENDIX TABLE III-K.-Net financial investment of financial sectors of the economy [In millions of dollars; current dollars for 1954-59; 1959 dollars for 1960-70]

Cols. 2 and 3: 1954-59-Board of Governors, Federal Reserve System, Federal Reserve Bulletin, August 1959, p. 1052, for 1954 data, and August 1960, p. 932 for 1955-59 data. 1960-70-1960 projected at average for 1954-59 and projections for subsequent years increased at approximate projected rate of growth of entire economy (about 4 percent per year).

APPENDIX TABLE IV-A:-Reconciliation of net increase in life insurance policy reserves with net increases of savings in private life insurance, 1954-59, and projected net increases in life insurance policy reserves, 1960-70

[Amounts in millions of dollars; current dollars for 1954-59; 1959 dollars for 1960-70]

1

1954-59: Col. 1: From table 25, col. 2.

Col. 2: Securities and Exchange Commission, 1954 increase from "Survey of Corporate Pension Funds," 1951-54, p. 40, table 15; 1955-59 from appendix table IV-B, col. 3.

Col. 3: Column 1 minus col. 2.

Col. 4: Institute of Life Insurance, "1960 Life Insurance Fact Book," p. 61, annual changes in policy dividend accumulations.

Col. 5: Col. 3 plus col. 4.

Col. 6: From table 21, line 11-represents net increase in reserves on life insurance and supplementary contracts plus net increase in accumulated policy dividends.

Col. 7: Col. 6 minus col. 5-shows difference between derived estimate of life insurance savings and estimates in "Flow of Funds" data.

1960-70: Col. 1: Col. 2 plus col. 3.

Col. 2: From appendix table IV-B, col. 3.

Col. 3: Col. 6 minus col. 4.

Col. 4: Projected net annual amounts are at about the net annual increases of recent years, rounded to the nearest $100 million.

Col. 6: From table 21, line 11. (See note on col. 6 for 1954-59 for concept represented.)

APPENDIX TABLE IV-B.—Estimated distribution of annual net gains in private pension funds between insured and noninsured funds, 1955–70

[Amounts in billions of dollars; current dollars for 1955-59; 1959 dollars for 1960-70]

1955-59: Based on data published by the Securities and Exchange Commission in its Statistical Bulletin, June 1960, p. 7, table 6. Except for 1955, the total net gains shown are substantially in agreement with the net increases of consumer claims in private pension funds in the "flow of funds" data which are shown in table 21.

1960-70: Total net gain from table 21, line 12. Distribution projected in accordance with average distribution for years 1955-59.

p. 5, table 1.

APPENDIX TABLE IV-D.-Annual net increases in commercial bank time deposits,

1954-70

[In billions of dollars; current dollars 1954-59; 1959 dollars for 1960-70]

1954-59: All columns from "Flow of Funds" data, Board of Governors, Federal Reserve System, Federa Reserve Bulletin, August 1959, p. 1052, table G for 1954, and August 1960, p. 936, table G for 1955-59. 1960-70: Col. 1: 110 percent of col. 2.

Col. 2: From table 21,line 5.

Col. 3: Col. 1 minus col. 2.

APPENDIX TABLE IV-E.-Estimated distribution, by type, of mortgage loan holdings 1 at end of year by savings and loan associations, 1954–70 [Amounts in millions of dollars; current dollars for 1954-59; 1959 dollars for 1960-70]

1954-59: Amounts from Federal Home Loan Bank Board estimates, published in Federal Reserve Bulle tin, October 1960, p. 1162; percentages and annual net increases are derived. 1960-70: Cols. 1 and 2: From table 23, cols. 5 and 7, respectively.

Cols. 3 and 6: Derived as percentages of total (col. 1) by application of percentages projected in cols. 4 and 7, respectively.

Cols. 4 and 7: Projected on basis that trend toward a lower proportion of FHA and VA mortgages will be reversed during 1st 6 years of 1961-70 decade when there will be a relatively low overall net residential mortgage credit requirement, and the trend will resume in the last 4 years as mortgage credit tightens.