Stock Market · Investors and margin debt

Margin Loans as a Percent of Stock Market Value (since 1945)

Brokers' and dealers' receivables from customers (mostly margin loans) as a percent of the market value of U.S. nonfinancial corporations' shares, quarterly. The dashed line is the long-run average.

YearAverageYear close
19451.21%1.21%
19460.61%0.61%
19470.67%0.67%
19480.64%0.64%
19490.93%0.93%
19501.18%1.18%
19510.96%0.96%
19520.95%1.02%
19531.31%1.30%
19541.24%1.37%
19551.35%1.27%
19561.21%1.17%

Source: FRED BOGZ1FL663067003Q (Security Brokers and Dealers; Receivables Due from Customers (Margin Loans and Other Receivables); Asset, Level); FRED NCBEILQ027S (Nonfinancial Corporate Business; Corporate Equities; Liability, Level). Federal Reserve Bank of St. Louis.

Gray bands mark U.S. recessions as dated by the NBER (FRED USREC).

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