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MONETARY BA^ 1/
MULT I PLIERS

RESEARCH LIBRAw
Federal Reserve Bank

At^OA^C

of St. Louis
BILLIONS OF DOLLARS

ILL IONS OF DOLLARS

—----------- -1----------

100

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
JANUARY 24. 1973 FROM
THE FOUR WEEKS END ING i
NOV.
OCT.
SEP.

22,
25,
27,

1972
1972
1972

12.3
10.4
11.8

1972

MONETARY BASE

1973

LATEST DATA PLOTTED WEEK ENDINGt JANUARY 24,

MILLIONS

1973

RATIO

RATIO
2.9

2.8
MULTIPLIER
2.7

2.6

2.5

RATI P,

2.4

1

13 *0 It te I »
JAN
FEB
1971

• tt

3 10

3 IT SI

14 *9 It t«
JUN
JUL
1972

LATEST DATA PLOTTED WEEK ENOINQi JANUARY 17.

9 ts

0 to

4 18

1

13 tO 13 27 10 24

7 tl

1973

1973

1/ USES OF MONETARY BASE ARE MEMBER BANK RESERVES AND CURRENCY HELD BY THE PUBLIC AND N0M4EMBER
BANKS, ADJUSTED FOR RESERVE REQUIREMENT CHANGES ANO 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

0

RESERVES AVAILABLE TO SUPPORT
M
IVATEALLNONBANK
DEBBS I TS 1/
^
MEMBER BANKS “

3

FEDERAL RESERVE CRED I T 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

I ILL IONS OF DOLLARS

BILLIONS OF DOLLARS
—I------------------------- 32.0

2.0 ------------ 1----------rTHIS SERIES HAS NOT BEEN
ADJUSTED FOR THE CHANGE _
IN REGULATION D, THUS
DATA ARE NOT COMPARABLE.
1973

31.0

DEC.
JAN.

20
3

BILLIONS

31.5

-

29.05
21:29

RESERVES

-

30.0

* 3/
29.0
28.5

28.5

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
JANUARY 24, 1973 FROM
the four Weeks ending.

FEDERAL RESERVE CREDIT
-

312.

t

19 29 11 N 9 H
JAN
FEB

• It

9 la

9 IT 31

M 18 12 28
JUN

LATEST DATA PLOTTED WEEK ENDING. JANUARY 24,

JUL

S 23

•20
SEP

A 18
OCT

I

millions

IS 29 13 27 10 24

7 21

1973

1/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' M.9 RELEASE.
2/ BIEitJSS

c^^s

v

securities, loans, float and "other" assets, adjusted for
and changes in reou i Cements due to shifts indep6sits among

ULAoScw Or BANKS•
3/

of^^change^Tn^regulatiON2JDATA

*

BREAK IN SERIES DUE TO THE EFFECT OF CHANGES IN REGULATION D.


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

ARE A0JUSTED DUE T0 WAIVERS

associated with the effects

80

4.

DEMAf# DEPOSIT COMPONEN^ OF MONEY STOCK
AVERAGES OF DAILY FIGURES

^

SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

ILL IONS OF DOLLARS
—|------------------------BILLIONS
188.8
189.0
191.6
188.7
190.0

DEC
1971

JAN

FEB

MAR

APR

MAY

13 29 13 27 10 24

JUN
JUL
1972

LATEST DATA PLOTTED WEEK ENDINGi JANUARY 17,
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS

1973
H.fl RELEASE

COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING,
9/20/72 10/18/72 11/15/72

TO THE AVERAGE
OF FOUR WEEKS
ENDING,
8/14/72
7/19/72
8/1B/72
9/20/72
10/18/72
11/15/72
12/20/72
1/17/73


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

7 21

8.2
9.2
9.2
9.0
7.9
7.5
7.8
8. 1

9.3
9.4
6.9
6.9
6.5
7.0
7.6

11.7
10.2
7.5
8.9
7.4
8. 1

8.5
5.3
5. 1
6. 1
7. 1

3 5
W. w
3 7
5 4
6.6

1.4
4.8
8.4

7.4
8.9

11.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

195

MONEY STOCK™

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
250 ------------- 1-----------,------

LLIONS OF DOLLARS
1------------------------- 250

BILLIONS
245.6
246.0
245.8
247.2

DEC
1971

JAN

FEB

MAR

APR

MAY

1

JUN
JUL
1972

SEP

13 28 13 27 10 24

7 21

OCT
1973

LATEST DATA PLOTTED WEEK ENDING. JANUARY 17.

1973

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.fl RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE,
1/19/72

5/17/72

8.3
9.0
8.9

8.6

6/14/72

AVERAGE OF FOUR WEEKS ENDING.

7/19/72

8/16/72

7.5
5.6
5.5
6.5
7.2

4.7
4. 7
6. 1
7. 1

9/20/72 10/18/72 11/15/72

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
6/14/72
7/19/72
8/10/72
9/20/72
10/18/72
11/15/72
12/20/72
1/17/73


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

8.6
7.9
7.6
7.8
8. 1

8.4
8. 1
6.9

6.6
7. 1
7.6

10.2
9.1
7.4
6.9
7.5

8.0

3 3
5.7
7. 1

7 6
a!9

10.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

6.

TIME DEPORTS
ALL COMMERCIALBANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
320 =----------- ----------- ------

BILLIONS OF DOLLARS
-------------------- ---------=1 320

TOTAL TIME DEPOSITS

NET T I ME DEPOSITS*

t 15 29 12 26 9 25 8 22
DEC
JAN
FEB
MAR
1971

APR

MAY

t

JUN
JUL
,972

LATEST DATA PLOTTED WEEK ENDINGi JANUARY 17,

SEP

13 29 13 27 10 24

7 21

OCT

1973

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.i
*NETJ.,i£J2?POSITS ARE DEFINED ASi SAVINGS

1X OTHER

than

dfposi

NEGOTIABLE TlkJ

NET TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
1/19/72

5/17/72

6/14/72

7/19/72

AVERAGE OF FOUR WEEKS ENDINGi

8/16/72

9/20/72 10/18/72 11/15/72

TO THE AVERAGE
OF FOUR WEEKS
ENDINGi
6/14/72
7/19/72
8/16/72
9/20/72
10/18/72
11/13/72
12/20/72
1/17/73


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

13.4
13.2
12.5
12.3
12.4
12.0
12.0
12.6

13.4
11.9
11.6
11.9
11.4
11.5
12.4

10..5
10,,7
1 1.,3
10.,7
1 1 .,0
12. 1

9.9
10.9
10.3
10.7

10.9
11.2

12. 1

12.8

12.0
10.7
11.2
13.3

10.3
13.3

15.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MO#EY STOCK PLUS TI MI#DEPOS I TS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
570 c=----------- ----------- ------

BILLIONS OF DOLLARS
----------- -------------- -------- =1 570

MONEY STOCK PLUS TOTAL TIME DEPOSITS

MONEY STOCK PLUS NET TIME DEPOSITS 98*

1 15
DEC
1971

29 12 26 9 23
8 22 5 19
JAN
FEB
MAR
APR

3 17 31 M 28 12 26
9 23
MAY
JUN
JUL
AUG
1972

LATEST DATA PLOTTED WEEK ENDINGi JANUARY 17.

6 20
SEP

4 18
OCT

1

13 29 13 27 10 24

7 21

1973

1973

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.8 RELEASE.
MK Mt IS DEFUCD AS. CURRENCY. DEMAND DEPOSITS PLUS NET TIME DEPOSfTS < SEE PAGE 6 ).

MONEY STOCK PLUS NET TIME DEPOSITS (M2)
COMPOUNDED ANNUAL RATES OF CHANGE,
1/19/72

AVERAGE OF FOUR WEEKS ENDING.

5/17/72

6/14/72

7/19/72

8/16/72

10.9
10. 1
10.0
9.4
9.0
9.3
10. 1

10.2
10.0
9.3
8.9
9.3
10.2

9.0
8.3
8.0
8.7
9.8

8.4
6.0
8.8
10. 1

9/20/72 10/18/72 11/15/72

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
6/M/72
7/19/72
8/16/72
9/20/72
10/18/72
11/15/72
12/20/72
1/17/73


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

10.8
1 1.0
10.7
10.5
10. 1
9.8
10.0
10. A

6.9
8.5
10.3

9.2
11.3

13.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

CERTIFICATES OF DEPOSIT

LARGE COMMERCI AiPBANKS
WEDNESDAY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
46

BILLIONS OF DOLLARS
46

-

-

44
-

-

42

42
-

-

40

40
-

-

38

38
-

-

36

36
-

-

34

34
-

32

32

’'ill l

DEC
1971

111

II1

1111

-L.L.1

JAN

FEB

MAR

APR

-LIU

MAY

1 1 1

1 1

1

JUN
JUL
1972

LATEST DATA PLOTTED WEEK ENDINGi JANUARY 17.

-1111

AUG

111

JJ.1-

1111

J-.il

SEP

OCT

NOV

DEC

Inii

3
—1_ 1_ 1_

JAN
FEB
1973

1973

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
HiS.TiASfeIJ[i,!lS«cS!l!Ii^IFs-9f-,8EPOSIT 183060 IN
"ttRLT ntrOn I I NO CuMcRC IAL BANKS.


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

denominations of

*100.000

or more by large

MONEY AND TIME DEPOSIT DATA

1973
DEC.

JAN.

FEB.

6
13
20
27
3
10
17
24
31
7
14
21
28

CERTIFICATES
OF DEPOSIT

BILLIONS
NET TIME
DEPOSITS*

42.4
43.5
44.4
44.7
43. 1
44. 1
44. 1

266. 1
266.3
267.5
268.7
270.4
270. 1
271.6

M2

m

512.2
512.0
513.5
517.3
517.7
516.0
518.8

* SEE FOOTNOTE PAGE 6.
Mi SEE FOOTNOTE PAGE 7.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

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

BILLIONS OF DOLLARS
415 r------------ r—--------------

BILLIONS OF DOLLARS
-------------------- -------- -i 415

CREDIT PROXY ADJUSTED 1/

CREDIT PROXY

t

19 29 12 26

JAN

9 29

6 22

9 19

FEB

9 17 91

14 26 12 26

9 23

JUN
JUL
1972

LATEST DATA PLOTTED WEEK ENDINGi JANUARY 17.

6 20

4 18

SEP

OCT

1

19 29 13 27 10 24

7 21

1973

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE.

w UNSLUB!uj<!!EM23n ^»TA?^,nfi!JB,k5£Kcp5l1rTTIR.i2^ERC,AL PAPER* EURODOLLAR BORROWINGS OF
U.S. BANKS. AND CERTAIN OTHER NONDEPOSIT SOURCES.

1973

DEC. 13
20
27
JAN. 3
10
17


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

BILLIONS

CREDIT
fffOXY

CREDIT
PROXY
ADJUSTED

399. 1
398.6
400.0
404.1
402.8
402.3

403.3
403.0
404.5
408.5
406.9
407. 1

COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF THE FOUR WEEKS ENDING
JANUARY 17. 1973 FROM THE FOUR
WEEKS ENDINGi

NOV.
OCT.
SEP.
AUG.
JUL.
JUN.
JAN.

15.
18.
20.
16.
19.
14,
19.

1972
1972
1972
1972
1972
1972
1972

CREDIT
-fKQXY

CREDIT
PROXY
ADJUSTS

15.,0
13.,3
12.,2
11.,5
12.,0
10. 9
11.,6

15., 1
13..6
12..4
11.,6
12., 1
11.,1
11.,6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

▼Ields

on selected^ecurities

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT

8.0 ----

I

II

I

----- 8.0

:rcial

11

I

| | I | |

||

I I

1

MUNICIPAL

I I

PRIME Ci
LOAN RA

1

I I I I I I I I I I I I I

I I

CORPORATE Aaa BONDS

THREE
BILL I

L LL.1 I

I I I

1

I I I I

SCOUNT RATE

11-1-

1

I I I I I

H TRI

DEC
1971

JAN

FEB

MAR

APR

MAY

JUN
JUL
,972

AUG

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR

1973
DEC.

JAN.

FEB.

1
8
15
22
29
5
12
19
26 *
2
y
16
23

22

SEP

6 20

3 IT

1

OCT

NOV

DEC

15 28 12 20

JAN

9 23

FEB

1973
THE WEEK ENDINGi JANUARY 26,

1973

CORPORATE
Am BONOS

3-MONTH
TREASURY
BILLS

3-5 YEAR
GOVERNMENT
SECURITIES

LONG-TERM
GOVERNMENT
SECURITIES

MUNICIPAL
BONOS kk

7.07
7.05
7.08
7.10
7.11
7. 1 1
7.12
7.15
7.17

4.88
5.00
5.05
5. 15
5.13
5.16
5. 19
5.40
5.62

6.04
6.05
6.04
6.09
6.12
6. 16
6.22
6.27
6.35

5.53
5.57
5.60
5.68
5.70
5.72
5.83
5.98
6.08

4.99
4.96
5.03
5.10
5. 1 1
5.08
5.03
5.00
N. A.

2Javailable.
*AB0^NOTYAV^L^EAGE ,NDEX 0F 20 MUNICIPAL BONDS. THURSDAY DATA.


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

PREPARED BY FEDERAL RESERVE BANK OF ST

LOUIS

cLFCTED SHORT-TERM

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

percent

PERCENT

8.0

COMMERCIAL PAPER
4-T0-6 MONTH

FEDERAL FUNDS RATE

2.5
u11111111II

3

tr

31

H

2g

M

1111

lllL
lj 1111111 n
1 V.L11 I I I II I

in .V ■

I

I LI I I I I I l I I i i I

I I I

I i I I

III

, ,

£c,

0

latest data plotted ape avepaoes op pates avaLle pop the


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

PRIME
COMMERCIAL
PAPER

PEEP E»,HO. JANUARY so.

Zl

PRIME
BANKERS
ACCEPTANCES

4-6 MONTH

90 DAY

5.09

5.20

^EKLY^AVERAQES' END I^WEDN^^two
IN THE BOARD OF GOVERNORS’ H.9 RELEASE.
PREPARED BY FEDERAL RESERVE BANK

OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS

ALL MEMBER BANKS

BILLIONS OF DOLLARS
2-0 --------------1----------- :----1211

IN THE NATION

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

---- ---------- -------- 2.0

MILLIONS

DEC. 20

BORROWINGS

I

19 29 12 26

JAN

9 29

8 22

9 19

9 IT 91

14 28 12 28

9 29

6 20

4 18

1

19 29 19 27 10 24

7 21

FEB
1972

LATEST DATA PLOTTED WEEK ENDING. JANUARY 24.

1973

BUSINESS LOANS

(COMMERCIAL

AND

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
94 --------------------------,--------

BILLIONS OF DOLLARS
-------- -------------- ----------- 94

COMPOUNDED ANNUAL RATES OF CHANGE
AVERAGE OF THE FOUR WEEKS ENDING
JANUARY 17. 1973 FROM THE FOUR
WEEKS ENDING.

NOV.
OCT.
SEP.
AUG.
JUL.
JUN.
JAN.

15,
18.
20,
18,
19,
14,
19,

BUSINESS

BUSINESS
LOANS

-LOANS.

ADJUSTED

12.8
14.5
13.7
14.3
14.9
10.9
9.8

14.3
18.0
14.4
14.8
15.6
11.0
9.7

1972
19T2
19T2
1972
1972
1972
1972

BUSINESS LOANS ADJUSTED 1A

MILLIONS
BUSINESS
BUSINESS
LOANS
LOANS. APjySTEO

BUSINESS LOANS
DEC.

15

91,072
19 29 12 28

JAN

9 23

8 22

3 19

3 17 91

14 28 12 26

9 23

6 20

4 18

1

19 29 13 27

10 24

FEB

LATEST DATA PLOTTED WEEK ENDING. JANUARY IT,

1973

 1/ i^WESJ-pANS SOLD OUTRIGHT^ COMMERCIAL BANKS TO OWN SUBSIDIARIES. FOREIGN BRANCHES.
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Federal Reserve Bank of St. Louis

7 21