Note: Until 1959, commercial banks’ annual reports separated only cash from deposits in other banks, in these being included the Bank of Portugal. Thus, in order to separate deposits at the Bank of Portugal from those in other banks, we had to use the Bank of Portugal’s annual reports. The figures in these reports are not disaggregated by bank though. To obtain the estimate presented here an aggregate ratio between deposits at the Bank of Portugal and in other banks was calculated. This ratio was then applied to the figures provided by the various banks’ annual reports (the ones in Panel A). The assumption here is that the proportion between deposits at the Bank of Portugal and deposits in other banks was, for each year, the same in all banks.
Sources: Banco Borges & Irmão (1950-1973), Banco Espírito Santo & Comercial de Lisboa (1950-1973), Banco Fonsecas, Santos & Viana (1950-1967), Banco Fonsecas & Burnay (1968-1973), Banco Lisboa & Açores (1950-1969), Banco Nacional Ultramarino (1950-1973), Banco Pinto & Sotto Mayor (1950-1973), Banco Português do Atlântico (1950-1973), Banco Totta & Açores (1970-1973).
Figure 6
Average interest rate on deposits (seven largest commercial banks), 1950-1973 (%)
Sources: see Table II.
Figure 7
Proportion of time deposits in total deposits (seven largest commercial banks), 1950-1973 (%)