Full text of U.S. Financial Data : Week Ending: November 29, 1972

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'77V!

Week ending: November 29, 1972

‘S’ftgy

The nation's money stock (page 5), defined as private
demand deposits and currency in the hands of the public, has
increased at a 7.3 percent annual rate in the past nine months
and at only a slightly slower rate of 7.0 percent in the past
six months. Money increased at a 5.9 percent trend rate from
December 1966 to December 1971. Another aggregate, money plus
net time deposits, has increased at a 9.3 percent rate in the
past nine months, compared with an 8.2 percent trend rate from
late 1966 to late 1971.
Reserves available to support private nonbank deposits
(page 3) is currently published on an "actual" basis, that is, no
adjustment has been made to remove breaks in the series due to
changes in reserve requirements. A drop of about $3 billion in
the statement weeks of November 15 and 22 largely reflects a
decline in required reserves on net demand deposits due to
changes in Federal Reserve Regulation D. This large decline,
however, is not intended to result in any fundamental change in
the overall stance of monetary policy. In order to calculate
current rates of change the analyst must make an adjustment for
the reserve requirement change.
Another reserve aggregate, the monetary base (page 2),
is on an "effective" basis. An adjustment has been made to this
series to remove the break in series due to recent regulation
changes. This adjustment allows the analyst to compare rates of
change over recent periods with rates for other monetary
aggregates. For example, the base has increased at a 7.9 percent
annual rate in the past nine months and at a slower 6.1 percent
rate in the past six months. Normally, the growth of this reserve
aggregate bears a close relationship to the money stock over
periods of several months.
Federal Reserve credit (page 3), the primary source
component of the base, has also been adjusted. This aggregate has
increased at a 5.4 percent rate in the past nine months and at a
4.9 percent rate in the past six months. Deviations between this
series and the base are primarily due to changes in the gold stock
and Treasury deposits at the Federal Reserve.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis
Released: December 1, 1972

MONETARY BASE 1/
MULTIPLIER^

AVERAGES OF DAILY FIGURES
BILLIONS OF DOLLARS

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING
NOVEMBER 29, 1972 FROMTHE FOUR WEEKS ENDING.
SEP. 27,
AUG. 30,
JUL. 26,
JUN. 28,
MAY 31,
APR. 26,
DEC.
I,

1972
1972
1972
1972
1972
1972
1971

10.6
7.1
7.-4
7.8
6.1
6.3
7.8

-

MONETARY BASE

972

MILL I ONS

8
5

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 29,

95
95

1972

RATIO

RATIO
2.9

2.8
MULTIPLIER
2.7

2.6

2.5
1.972,
OCT.

18
25
1

NOV.

6 20

5 IT

OCT

NOV

I

13 29 12 26
JAN

9 23

8 22

3 19

3 IT 31

FEB

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 22,

14 26 12 26
JUN

9 23

BAT.LQ.
2.539
2.524
2.532

2.4

J-LLLL
6 20

4 16

I

15 29 13 2T

JUL

1972

1/ USES OF MONETARY BASE ARE MEMBER BANK RESERVES AND CURRENCY HELD BY THE PUBLIC AND NOVEMBER
BANKS, ADJUSTED FOR RESERVE REQUIREMENT CHANGES AND SHIFTS IN DEPOSITS.
FOR A DESCRIPTION
OF THE BASE SEE THE AUGUST 1968 ••REVIEW’* OF THIS BANK.
2/ RATIO OF MONEY STOCK (Ml ) / MONETARY BASE.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0

RESERVES AVAILABLE TO SUPPORT
PRIVATE NONBANK DEPOSITS-^
ALL MEMBER BANKS

FEDERAL RESERVE CREDIT^
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

- THIS SERIES HAS NOT BEEN
Z_ ADJUSTED FOR THE CHANGE—
IN REGULATION D, THUS
DATA ARE NOT COMPARABLE.
1972

BILLIONS

OCT. 25
NOV.
I

—

31.08
31.05

30.5

30.0
29.5

29.5

28.5

28.0
I I I I

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
NOVEMBER 29. 1972 FROMTHE FOUR WEEKS ENDING.
SEP. 27,
AUG. 30,
JUL. 26,
JUN. 28,
MAY 31,
APR. 26,
DEC.
I,

1972
1972
1972
1972
1972
1972
1971

14.7
5.8
5.0
4.6
4.9
4.6
7.1

~
FEDERAL RESERVE CREDIT

972.
OCT.

MILLIONS

25
— 76

€20

3 IT

OCT

NOV

I

13 20 12 2«

JAN

0 23

S 22

5 10

3 IT 31

FEB

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 29,

14 23 12 26

JUN

0 23

6 20

4 13

I

13 20 IS 2T

JUL

1972

1/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.9 RELEASE.
2/ DEFINED TO INCLUDE HOLDINGS OF SECURITIES, LOANS, FLOAT AND •'OTHER’* ASSETS, ADJUSTED FOR
RESERVE REQUIREMENT CHANGES AND CHANGES IN REQUIREMENTS DUE TO SHIFTS IN DEP6SITS AMONG
CLASSES OF BANKS.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BAMS OF ST. LOUIS

DEMAND

DEPOSIT

COMPONENT

OF

MONEY

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

STOCK
billions

of

dollars

BILLIONS
186.3
186.3
186.2
186.5
187.9
187.9

OCT

3 17
NOV

1

IS 79

12 26 9 23
JAN
FEB

8 22

5 19

3 IT 31

M 28 12 28

1971

9 23

4 18

1

15 29

13 27

1972

LATEST DATA PLOTTED WEEK ENDING-. NOVEMBER 22,

I9T2

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGs
11/24/71

3/22/72

4/19/72

5/24/72

6/21/72

7/19/72

8/23/72

9/20/72

4.9
6.2
7.7
7.9
8.0
6.6
6.4

5.2
7.5
7.9
7.9
6.4
6.2

10.9
10. 1
9.6
7.3
7.0

0.6
9.8
7.0
6.6

8.5
5.4
5.3

3.5
3.9

2.2

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
4/19/72
5/24/72
6/21/72
7/19/72
8/23/72
9/20/72
10/25/72
11/22/72


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

7.5
6.5
6.8
7.5
7.7
7.7
6.9
6.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

242.2
242.7

w•
I I »WI
L
|1W^
DECEMBER '66I TO lDECEMBER '71

8 20

5 IT

OCT

I

15 29 12 28

9 23

8 22

3 19

4 28 IT 28

5 IT 51

NOV

JUN

LATEST DATA PLOTTED WEEK ENDING, NOVEMBER 22,

0 29

8 20

4 18

I

15 29 15 27

JUL

1972

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS END 1NG,
11/24/71

3/22/72

4/19/72

5/24/72

B/21/72

7/19/72

8/23/72

9/20/72

6. 1
6.7
7.8
7.7
7.7
6.9
6.8

5.5
7.4
7.3
7.4
6.5
6.4

9.8
8.8
8.6
7.2
7.0

9. 1
8.7
7.0
6.8

7.5
5.7
5.8

4.9
5.3

4. 1

TO THE AVERAGE
OF FOUR WEEKS
ENDING,
4/19/72
5/24/72
8/21/72
7/19/72
9/23/72
9/20/72
10/25/72
11/22/72


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

7.8
7.0
7. 1
7.6
7.®
7.6
7.1
7.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

6

TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

TOTAL TIME DEPOSITS

NET TIME DEPOSITS *

I I 1 I
6 20

5 IT

OCT

I

15 39 13 36

NOV

JAN

9 23

S 32

5 19

S IT SI

14 29 12 26

JUN

FEB

9 25

6 20

4 16

S 39 IS 27

JUL

LATEST DATA PLOTTED WEEK Ef'OiNGt NOVEMBER 22, I9T2
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
K NET TIME DEPOSITS ARE DEFINED ASt SAVINGS DEPOSITS. TIME DEPOSITS OPEN ACCOUNT PLUS TIME
CERTIFICATES OF DEPOSIT OTHER THAN NEOOTIABLE TIME CERTIFICATES OF DEPOSIT IISSUED IN
DENOMINATIONS OF 6100,000 OR MORE BY LAROE WEEKLY REPORTING COMMERCIAL BANKS

NET TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENOINGi
11/24/71

3/22/72

4/19/72

5/24/72

6/21/72

7/19/72

8/23/72

9/20/72

16.4
15.8
15.7
15.2
14.3
14.0
13.9
13.5

10.3
1 1.7
1 l .6
1 1 .0
11 .0
1 1.4
10.9

14. 1
13.2
12.0
1 1 .8
12. 1
11 .5

13.1
1 1 .5
11.4
It.8
11.2

10.0
10.3
1 1 . 1
10.5

9.9
II.0
10.3

12.3
10.8

10.7

TO THE AVERAGE
OF FOUR WEEKS
ENDINGc
4/19/72
5/24/72
6/21/72
7/19/72
8/23/72
9/20/72
10/25/72
11/22/72


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK PLUS

TIME

DEPOSITS

AVERAGES OF DAILY FIGURES
SEASONALLY AOJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

MONEY STOCK PLUS TOTAL TIME DEPOSITS

MONEY STOCK PLUS NET TIME DEPOSITS

S 29 12 n

OCT

NOV
1071

JAN

9 25

• 22

S 19

i IT II 14 11 12 H

« 20

4 1C

SEP

FEB

9 23

OCT

3 29 IS 2T

1972

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 22,

1972

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
MR Ml IS DEFINED ASt CURRENCY, DEMAND DEPOSITS PLUS NET TIME DEPOSITS (SEE PAOE 6).

MONEY STOCK PLUS NET TIME DEPOSITS (M2)
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING*
11/24/71

3/22/72

4/19/72

5/24/72

8/21/72

7/19/72

8/23/72

9/20/72

12. 1
1 1.3
1 1.4
1 1.4
1 1 .0
10.9
10.5
10.2

8. 1
9.2
9.7
9.4
9.4
9.2
8.9

9.9
10.2
9.7
9.7
9.4
9.0

11.5
10.3
10.2
9.6
9. 1

9.6
9.6
9.1
8.7

9.0
8.5
8.1

8.7
8.0

7.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
4/19/72
5/24/72
C/21/72
7/19/72
9/25/72
9/20/72
10/25/72
11/22/72


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

8

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
WEDNESDAY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

6 20

5 IT

OCT

I

II 21 II H

S 25

9 22

5 19

5 IT 51

NOV

14 31 12 M

JUN

JUL

BILLIONS OF DOLLARS

9 25

« 20

4 19

SEP

OCT

I

15 29 15 2T

LATEST DATA PLOTTED WEEK ENDINGi NOVEMBER 22, 1972
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.fl RELEASE.
NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 9100,000 OR MORE BY LARGE
WEEKLY REPORTING COMMERCIAL BANKS.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

MONEY AND TIME DEPOSIT DATA
CERTIFICATES
OF DEPOSIT

1972
OCT.

NOV.

4
1 1
18
25
1
8

15
22
29
DEC.

BILLIONS
NET TIME
DEPOSITS*

40.4
40.5
4! .0
41 .0
40.6
41.1
40.8
41 .6

262.2
262. 1
262.7
265.0
263.4
263.3
264.3
265. 1

M2 a*

504.0
504.8
504.9
505.4
505.4
506.0
508.5
509.4

6

13
20
27

* SEE FOOTNOTE PAGE 8.
M* SEE FOOTNOTE PAGE 7.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MEMBER BANK DEPOSITS
SUBJECT TO RESERVE REQUIREMENTS
( CREDIT PROXY )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
405 p-------- ---------- --------

BILLIONS OF DOLLARS
----- -------------------- =1 405

CREDIT PROXY ADJUSTED 1/

CREDIT PROXY

6 20

3 IT

1

IS 29 12 26
JAN

9 23

S 22

3 19

3 IT 31

LATEST DATA PLOTTED WEEK ENDING, NOVEMBER 22,
CURRENT DATA APPEAR

H 26 12 26

9 23

6 20

4 18

I

FEB

13 29 IS 27

1972

IN THE BOARD OF GOVERNORS* H.9 RELEASE.

1/ INCLUDES MEMBER BAMt DEPOSITS, BANK-RELATED COMMERCIAL PAPER. EURODOLLAR BORROWINGS OF
U.S. BANKS, AND CERTAIN OTHER NONDEPOSIT SOURCES.

1212.

BILLIONS

_EROXY

CREDIT
PROXY
ADJUSTED

390.6
391 .9
393. 1
393.8
394.5
398.4

394.6
396.3
397.5
397.7
396.6
400.4

CREDIT
OCT.
NOV.

18
25
I
8
15
22


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF THE FOUR WEEKS ENDING
NOVEMBER 22. 1972 FROM THE FOUR
WEEKS ENDIN&-.
CREDIT
CREDIT
PROXY
■PROXY ADJUSTED
SEP.
AUG.
JUL.
JUN.
MAY
APR.
NOV.

20.
23.
19,
21.
24,
19,
24,

1972
1972
1972
1972
1972
1972
1971

1 1 .7
1 1.5
1 1.6
10.3
10. 1
10.9
12. 1

10.
10.
10.
9.
9.
10.
1 1.

1
1
8
8
6
5
3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

percent

CORPORATE

PERCENT

BONDS

PRIME Cl
LOAN RA

ICIAL

MUNICIPAL
BONDS**

DISCOUNT RATE

THREE-MONTH TREASURY
BILL MARKET YIELD

I

15 29 12 2« 10 24

7 21

•I 16

JAN

FEB

5 17 31

14 26 IS 26

APR

6 23

7 SI

4 16

JUL

MAY

AUG

I

15 29 IS 27 10 24

OCT

6 22

NOV

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING, DECEMBER I, I9T2

1972
OCT.

6
13
20
27
NOV.
3
10
17
24
DEC.
1 X
8
15
22
29

CORPORATE
Am BONDS

3-MONTH
TREASURY
BILLS

3-5 YEAR
GOVER/*
**NT
SECURITIES

long-term
GOVERNMENT
SECURITIES

MUNICIPAL
BONDS MM

7.23
7.22
7.21
7.19
7. 18
7. ie
7. 12
7.09
7.08

4.66
4.79
4.78
4.73
4.74
4.71
4.76
4.82
4.95

6. 1 l
6. 10
6. 1 1
6.10
6. 10
6.05
6.00
6.02
6.05

5.73
5.71
5.70
5.65
5.59
5.51
5.47
5.48
5.52

5.22
5. 16
5.25
5.13
5.04
5.10
5.01
4.96
N.A.

* AVERAGES OF RATES AVAILABLE.
m BOfC NOT AVAILABLE
N.A. - BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED SHORT-TERM INTEREST RATES
Averages

PERCENT

of daily rates ended

Friday
PERCENT

COMMERCIAL PAPER
4-TO-fl MONTH

FEDERAL FUfOS RATE

JAN

4 18

FEB

APR

MAY

JUL

AUG

I

IS 20 IS 2T 10 2-4

OCT

8 22

NOV

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi DECEMBER I, 1972


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PRIME
COMMERCIAL
PAPER
4-6 MONTH

1972
OCT.

6
13
20
27
NOV.
3
10
17
24
DEC.
1
8
15
22
29

m

FEDERAL
FUNDS

PRIME
BANKERS'
ACCEPTANCES

90 DAY
CD'S MR

5.28
5.30
5.35
5.31
5.25
5.25
5.25
5.25
5.25

5.36
4.96
4.88
5. IS
5.09
5.41
4.63
5.OS
5.02

4.95
5.00
5. 10
5. 13
5. 10
5.0C
5.00
5.00
5.00

5.20
5.23
5.29
5.26
5.21
5. 19
5.21
5.25
5.22

* AVERAGES OF RATES AVAILABLE. FEDERAL FUNDS LAST FIVE DAYS AVAILABLE
m DATA ARE SECONDARY MARKET RATES. WEEKLY AVERAGES END ING WEDNESDAY TWO
DAYS EARLIER. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' hYO RELEASE.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

12

BORROWINGS AND EXCESS RESERVES
ALL MEMBER BANKS

IN THE NATION

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
'«2 -------------------- ------

BILLIONS OF DOLLARS

1.2

—------------------------------------------

NET FREE RESERVES

0.8

0.8

-

-

1.2

-1 .2

-

1.2

0.8

0.4

EXCESS RESERVES

0

S IT

I

15 29 12 23

JAN

9 23

• 22

3 19

9 IT 31

JUN

FEB

LATEST DATA PLOTTED WEEK ENDING, NOVEMBER 29.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

H M 12 M

JUL

9 23

* 20

-4 19

SEP

I

13

OCT

I9T2

MILLIONS
1972
OCT.

4
1 1
18
25
NOV.
1
8
15
22
29
DEC.
6
13
20
27

EXCESS
RESERVES
230
358
121
150
205
ioe
579
142
354

BORROWINGS
438
535
434
765
555
958
494
421
572

FREE
RESERVES
- 206
- 177
- 313
- 615
- 350
- 852
85
- 279
- 218

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

-0.4