Full text of U.S. Financial Data : Week Ending September 13, 1967
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/ MSWF**! _•-'s U.S. FinRnCIRL ORTA Week ending September 13,1967 library BANK RESERVES (Pages 2, 3 and 12) COMMERCIAL BAM CREDIT (Page 4) Total reserves of member banks, which limit both bank credit and the money stock, increased at a 7 per cent annual rate in the six months from the four weeks ending March 15 to the four weeks ending September 13. This growth compares with a 5 per cent rate of increase from 1964 to 1966. From 1957 to 1964 the trend rate was about 3 per cent. Commercial bank loans and investments have risen at an estimated 13 per cent annual rate since last December, compared with a 9*5 per cent annual rate in the comparable period in 1966. Member bank reserves are in turn influenced by Federal Reserve credit. This credit has increased at a 7 per cent annual rate in the past 6 months compared with a 10 per cent rate from 1964 to 1966. Loans, which account for about two-thirds of total bank credit, have risen at an 8 per cent rate this year, down from the l4 per cent rate of the like period last year. Business loans, which account for roughly one-third of total loans, are estimated to have increased at a 9 per cent annual rate this year, down markedly from the 20 per cent rate of the corresponding period last year. EXCESS RESERVES AM) BORROWINGS (Pages 8 and 12) In contrast, commercial bank investments have increased at a 23 per cent rate since December, whereas they changed little during the like period last year. Bank reserves in excess of legal requirements on deposits have fluctuated around a $350 to $400 million range since 1964. Because these funds are non-earning assets, banks seek to keep them at a practical minimum. MONEY STOCK Member bank borrowings from Reserve Banks have been below $100 million most of the time since April, a tively small amount. The low level of borrowing re ts in part the availability of alternative sources hort-term funds to banks. K http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis (Pages 5 and 12) The nation's money stock, consisting of private demand deposits and currency in the hands of the public, averaged $179-3 billion in the four weeks ending September 6, up at a 9 per cent annual rate since late February. From 1964 to 1966 money grew at a 4 per cent rate while from 1957 to 1964 the trend rate was 2 per cent. Rates of change reported in this release are intended to serve as summaries which may be useful in analyzing recent developments. Prepared by Federal Reserve Bank of St. Louis Released: September 15, 1967 FEDERAL RESERVE CREDIT [1 Seasonally Adjusted by this Bank Billions of Dollars [2 Billions of Dollars Annual rates of change of Federal Reserve Credit adjusted for reserve requirement changes from four weeks ending: June Ik, 1967 Federal Reserve Credit Adjusted for Reserve Requirement Changes Federail Reserve. Credit Federal Reserve Holdings of U.s. Government and Federal Agency Securities * Data beginning March 2, adjusted for the effect of the changes in Til I 1 reserve requirements. 1/ Federal Reserve Credit excluding float and a few minor items. 2j Seasonal adjustment for Federal Reserve Holdings Borrowings Latest data preliminary 12 L I 1 26 2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Borrowings from Federal Reserve not seasonally adjusted. Unadjusted data appear in Board's H.4.1 release. : i__I__I__ I__I__I__I Jan. 29 5 12 Mar. 28 5 12 26 3 26 2 June Prepared by Federal Reserve Bank of* St. Louis * ■Billions of Dollars RESERVES All Member Banks in the Nation Weekly Averages of Daily Figures . Seasonal adjustment computed by this bank using data ending December 1965* Unadjusted data appear in the Board's H.k.l release. 1—I—!—h _ TOTAL RESERVES . _ Annual rates of change, average of. _ four weeks ending Sept. 13, 1967 from four weeks ending: " June lk, 1967 + & (° ‘ - Mar. 15, 1967 + 7.3 ~ 3 Billions of Dollars Total Reserves Available for Private Demand Deposits RESERVES AVAILABLE FOR _ PRIVATE DEMAND DEPOSITS Annual rates of change, average of- 22.0 June 5 12 26 2 Oct. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis lk, 1967 — - Latest data preliminary Seasonal adjustment 'actors have been revised Latest data plotted week ending:Sept. 13, 1967 to incorporate data through early 1967 31 7 lk 28 5 12 26 2 16 30 7 lk 28 k 16 15 29 5 12 15 22 1 June Jan. Sept. Feb. Nov. Prepared by Federal Reserve Bank of St. Louis 4 Ratio Scale Billions of Doll ars http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Bank Credit Al I Com me rcia I Ba n ks Ratio Scale Billions of Dollars Seasonally Adjusted ------- ----------- 1400 +9.5% 335.5 275.4 219.5 Total Bank Credit Investmen +0.7% Aug.’67 1960 1962 1963 1964 1965 1966 1967 Source: Board of Governors of the Federal Reserve System; Data presented are averages of end of currentand preceding month. Percentages are annual rates of change between periods indicated. They are presented to aid in comparing most recent developments with past "trends." Latest data plotted: August estimated Prepared by Federal Reserve Bank of St. Louis 5 MONEY STOCK* Billions of Dollars Billions of Dollars Seasonally Adjusted — Annual rates of change, average of _ from four weeks ending: — Aug. i960 - Aug. 1966 WEEKLY DAT, 13-week centered Weekly Current data appear in the Board's H.6 release. Back data appear in the August 1967 Federal Reserve Bulletin. For trend of money stock by months see this bank's monthly release entitled "Monetary Trends". Latest data preliminary 18 25 1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 15 22 1 15 J__ I__L 29 5 12 31 7 lb 28 5 12 June 26 2 16 30 6 13 27 4 Prepared by Federal Reserve Bank of St. Louis CERTIFICATES OF DEPOSIT 11 Large Commercial Banks Wednesday Figures Billions of Dollars 21.0 6 Billions of Dollars Annual rates of change, seasonally unadjusted data average of four weeks ending Sept. 6,1967 from four weeks ending: 20.0 Aug. 1964 - Aug. 1966 Current and year ago data appear in the Latest data preliminary Latest data plotted: 5 12 26 2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 16 30 7 lit 1/ 28 k 11 25 1 8 22 1 Negotiable time certificates of deposit 19 26 3 Prepared by Federal Reserve Bank of St. Louis TIME DEPOSITS* All Commercial Banks 186 184 Seasonally Adjusted Annual rates of change, average of from four veeks ending: 182 y- /3.0 WEEKLY DATA 180 1967 jUu 7 ; n/S i 178 # 174 172 170 168 166 164 162 (lo 158 156 Latest data preliminary 15% 18 5 1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 15 22 1 15 29 5 12 26 3 * Current data appear in the Board's H.6 release. Back data appear in the August 1967 Federal Reserve Bulletin. For trend of time deposits by months see this bank's monthly release entitled "Monetary Trends". J__1......................................... 31 7 14 28 5 12 26 2 16 30 6 13 27 4 18251 15 29613 Prepared by Federal Reserve Bank of St« Louis BORROWINGS AND EXCESS RESERVES All Member Banks in the Nation Averages of Daily Figures • Millions of Dollars g Millions of Dollars 1100 1100 1000 1000 BIWEEKLY SETTLEMENT PERIODS Excess Reserves Net Free Reserves Borrowings -100 -100 -200 -200 Latest data preliminary Latest data plotted: two weeks ending Sept. 13, 1967 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis lilt 12 26 24 7 30 13 11 25 June Prepared by Federal Reserve Bank of St. Louis Billions of Dollars I I I I I I—I BUSINESS LOANS Large Commercial Banks Wednesday Figures I I I 9 : .llions of Dpi: Seasonally Ad justed by this Bank _ from four weeks ending: Current and year ago unadjusted data appear in the Board's H.4.2. release. Seasonal adjustment computed by this bank using 1962 through 1966 data Latest data preliminary 512 262 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 15 22 1 15 29 5 12263 31 7 14 May June 28 5 12 July 26 2 30 6 13 Aug. 1967 Prepared by Federal Reserve Bank of St. Louis Per Cent 10 YIELDS ON SELECTED SECURITIES Weekly Averages of Dally Rates Ended Friday Per Cent Long-Term Government Bonds Discount Rate Three-Month Treasury Bill Market Yield - Latest data plotted are averages of rates available for the week ending: Sept. 15, 1967 1—J__ L J__l_l__L J__ I__ L 17 2k 3 17 31 7 lk 28 5 12 26 2 16 30 71^ 28 4 6 13 27 3 18 251 15 29 6 13 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis June 27 3 17 Prepared by Federal Reserve Bank of St. Louis 11 SELECTED SHORT-TERM INTEREST RATES Weekly Averages of Daily Rates Ended Friday Per Cent Per Cent Prime Commercial Paper 4-to-6 Month _Prime Bankers1 Acceptances Discount Rate Latest data plotted sure averages of rates available for the week ending: Sept. 15, 19^7 6 13 27 3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 17 2k 3 17 31 7 14 28 5 12 26 2 16 30 7 14 28 h 18 25 1 15 29 6 13 27 3 1 15 June Prepared by Federal Reserve Bank of St. Louis MEMBER BANK 12 AVERAGES OF DAILY FIGURES WEEK ENDING WEDNESDAY SEASONALLY ADJUSTED BILLIONS OF DOLLARS RESERVES AVAILABLE FOR PRIVATE WEEK ENDING DEMAND DEPOSITS TOTAt RESERVES MONEY STOCK * AVERAGES OF DAILY FIGURES WEEK ENDING WEDNESDAY SEASONALLY ADJUSTED BILLIONS OF DOLLARS AVERAGES OF DAILY FIGURES WEEK ENDING WEDNESDAY MILLIONS OF DOLLARS EXCESS RESERVES BORROWINGS FREE RESERVES ns.t /S.71, 2.319 4oS /34 ./o /<. 7X 23 LL 139 L3 __n_ /L.04 23. 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SECURITIES LONG-TERM XREA^BILL PER CENT PER ANNUM AVERAGES OF DAILY FIGURES WEEK ENDING FRIDAY WEEK ENDING mi 3-5 YEAR 1 ___411___ 4.3L 3 9S 44S ___ill____ J.fi _________tL ________ 14- __ 4£4___ y v<r V S/ ________ 21____ 7*1*% s __ Ikl____ ___4 (.x T _________Lx . 4 7*____ PRIME COMMERCIAL pplUF LARGE CORPORATE PAPER BANKERS 90 DA£. Aoo 4-6-MONTH ACCEPTANCES CD'S** PER CENT PER ANNUM AVERAGES OF DAILY FIGURES FRIDAY WEEK ENDING FRIDAY FTcOm £■// FEDERAL FUNDS PER CENT PER ANNUM AVERAGES OF DAILY FIGURES WEEK ENDING FRIDAY £.0 0 431 4XS 4. 4J 4/0 4 of 4 3o .1/0 __ 3. IX £■// 4 ?£ i.xf 4-36 J. 7o 3. 72. £// 97S 4 J£ 43S 4.00 3 72* £/o 47S 4IS 4 So 4 03 3.t£ S./9 470 43S 44S 3.7S 4.1*3 4If 44S 403 ___ill___ 3£7 y 74 3 So £.3/ 4.(1 42S 2 SO 3.70 i.(,L 3/3 £3/ 4C3 4XS y 4n 397 _________ %. ___±1£____ ___474 1.4/ £37 4.U3 4-30 4U1 3.40 ________ al ___4,11 2-t, ___4JA____ ± 4. vt ___ ifc. ___________ 23 ___m____ ___S.oS 3.S7 £39 V(,3 431 4 (.3 4.00 3.f 7 £/£ 4 03 4/0 4-!0 400 ___S.t? 3.74 ISC, 4 i£ 4 U> 410 393 4X0 S.S? 4-i4 40? 4 70 3.9/ /4 ___till____ __ s./4___ ___4- /; SSJ 433 4. SO £.00 390 4/7 £.Ji> 4 13 «so £0O J.4S ________ u~ ________ 24- ___4.9S 4. (7 T/ S.XX _________XL 414 2/ 47 o S./l 424 £37 £.oo 4C.3 S.oo 3lo ini S/t> 4/S SSI Soo 4.70 f. 00 3.30 47S s.xs 4/7 S,sf S.oo 4.1S S Oo 4. of // lie S.M? 4.2L0 SIX 3.00 4.78 4. so 4-. OS 2/S 4n S.3S 4.3S £ <*3 £.00 4. IS 4. SO 3.40 49 L £33 44/ SIX £. On 4. If 4. (.£ 310 4.93 S.3X 43/ S.LL £.00 411 4. 7 0 4.03 4.11, £.37____ 417 £■(.£ S.QO __4^.3 V ________ IL */S •AVERAGES OF RATES AVAILABLE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis SOURCE: SALOMON BROTHERS AND HUTZLER SECONDARY MARKET RATE ON 90-DAY PRIME CD'S. . 3.9 L PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS