Full text of U.S. Financial Data : Week Ending: December 17, 1975

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Week ending: December 17, 1975
LIBRARY!
JUN 0 8 1979

Under Regulation Q the maximum interest rate
payable by commercial banks on savings deposits and time
deposits of less than $100,000 maturing in less than 90
days is limited to 5 percent.
Time deposits of less than
$100,000 maturing in 90 days to 1 year and those maturing
in 1 to 2 1/2 years are limited to yields of 5 1/2 and 6
percent, respectively. These categories of time and
savings deposits generally account for over 70 percent of
net time deposits. The level of other short-term interest
rates relative to the Regulation Q ceilings has a signif­
icant impact on the growth rate of net time deposits. For
example, from February through June short-term market
interest rates, such as the three-month Treasury bill rate,
were below 6 percent. During this period net time deposits
increased at a 15.6 percent annual rate. In contrast, from
July through mid-October short-term interest rates rose
above 6 percent and the growth of net time deposits slowed
to an 3.8 percent rate. Recently, short-term interest
rates have fallen below 6 percent and the growth rate of
net time deposits has increased to 13.8 percent.
In a similar manner the level of the Federal
funds rate relative to the Federal Reserve discount rate
influences the volume of member bank borrowings from the
Federal Reserve. When the Federal funds rate is below the
discount rate, it is more attractive for banks to borrow
reserves in the Federal funds market than from the Federal
Reserve. This was the situation which prevailed from
February through June of this year, during which time
member bank borrowings from Federal Reserve banks averaged
$105 million. In contrast, from July through mid-October
the Federal funds rate rose above the discount rate and
average member bank borrowings rose to over $300 million.
Since mid—October the Federal funds rate has dropped below
the discount rate and member bank borrowings have averaged
below $100 million.
Since late October the commercial bank prime
lending rate has been lowered from 8 percent to 7.25
percent. Business loans at weekly reporting large com­
mercial banks have increased by about $1.6 billion during
this period. However, business credit demands at com­
mercial banks remain at very low levels with business loans
about $10.5 billion below their peak of last December.

THIS RELEASE WILL NOT BE PUBLISHED ON FRIDAY DECEMBER 26, 1975
BECAUSE MONEY STOCK AND RELATED DATA WILL NOT BE AVAILABLE.


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

Prepared by Federal Reserve Bank of St. Louis

Released: December 19, 1975

MONETARY BASE

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
124 ---------- 1---------- ,--------

1215.

• 20

4 18

NOV

BILLIONS OF DOLLARS
----- ------------- ---------- 124

MILLIONS

DEC

1

13 29 12 26 12 20

0 23

r 21

4 IS

MAY

JUN

2 16 90 13 27 10 24

AUG

• 22

5 10

3 17 31

14 26

SEP
1876

LATEST DATA PLOTTED WEEK EM) I MGi DECEMBER 17, 1975
THE MONETARY BASE CONSISTS OF MEMBER BANK RESERVES AT THE FEDERAL RESERVE BANCS AND CURRENCY
IN CIROJLATI ON (CURRENCY HELD BY THE PUBLIC AM) IN THE VAULTS OF COMJERCIALBANKSK ADJUSTED
8&L'.?o&£t£E2*$,!!L*?iE.T5 'tLJ*
rn>E V DEPOSITS BETWEEN BANKS

!ttf«7ZE8A8f-A"E

rg'fED&r-ES^SSK SP.TMf.™ “°*,WT BASE 15 AVAIU<,LE « "EfRINT “• 3' ™“

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
12/18/74

5/19/75

5/14/75

6/18/75

7/16/75

8/20/75

4.1
5.6
6.8
5.8
6. 1
5.8
6.3
7.0

7.1
8.8
6.7
7.1
6.6
7.1
8.0

13.1
8.3
8.5
7.5
8.1
9.0

6.2
7.1
6.1
7.2
8.4

4.1
3.7
5.6
7.3

6.1
7.8
9.6

9/17/75 10/15/75

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
5/14/75
6/1B/75
7/16/75
8/20/75
9/17/75
10/15/75
11/19/75
12/17/75

2


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

7.2
9.6

12.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MULTIPLIER i/
FEDERAL RESERVE CREDIT*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

RATIO

2.8

2.8

2.7

2.7

MULTI PLIER

2.6

2.6

2.5

>

X/ _A—
/ V.

2.5

\
2.4

2.4

975

2.3

RATK

J-

NOV<.

5

if
2.2
«B

_LLL. . LLL 1.1 1 1

—

2.3

1:1}
J

2.462) — 2.2
_
DEC
2.47S
" 10
2.45f
lull. Llll
1 L.L -1.1 1. 1.1 1 1 ■ 1U-. -LLL 1 1.1 1 -LLL- 1 1.1 JJLLL1
.111

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 10,

1975

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

112
COMPOUNDED ANNUAL RATES
___ OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
_ DECEMBER 17, 1975 FROM

108

1975
1975
1975
1975

21.8
21.5

1975

AUG.

110

11.4

FEDERAL RESERVE CREDIT

106

1974

104

102
100
975

6 20
NOV

4 It
DEC

1

15 29 12 26 12 26

9 25

7 21
MAY

4 18
JUN

1974

2 16 30 15 27 10 24
AUG
SEP

1975

8 22

5 19

MILLIONS

3 17 31

14 28

1976

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 17, 1975
1/ RATIO OF MONEY STOCK (Ml) / MONETARY BASE.
2/ DEFINED TO INCLUDE HOLDINGS OF SECURITIES, LOANS, FLOAT AND ’*OTHER1• ASSETS. ADJUSTED
FOR RESERVE REQUIREMENT RATIO CHANGES AN) SHIFTS IN THE SAME TYPE OF DEPOSITS BETWEEN
BAiMKS WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY.
DATA ARE SEASONALLY ADJUSTED
BY THIS DAK*.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK PLUS NET TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
680 r----------1------------1---------

BILLIONS OF DOLLARS
------ --------------- --------- 680

BILLIONS
662.3
665.7
664.9

666.8
669. 1
667.6

6 20
NOV

4 18
DEC

1

15 29 12 26 12 26

9 23

7 21

4 18

1974

2 16 30 13 27

10 2A

8 22

5 19

3 17 31

14 28

1975

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 10,
CURRENT DATA APPEAR

IN THE BOARD OF GOVERNORS'

1975
H.6 RELEASE.

MONEY STOCK PLUS NET TIME DEPOSITS (M2)
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
12/11/74

3/12/75

6.8
9.2
10.0
9.5
9.3
8.5
8.5
8.8

12.6
13. 1
11.7
1 1.0
9.6
9.5
9.8

5/7/75

6/11/75

7/9/75

8/13/75

9/10/75

4. 1
5.9
7.3

5.4
7.4

10/8/75

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/ 7/75
6/11/75
7/ 9/75
8/13/75
9/10/75
10/ 8/75
11/12/75
12/10/75

4

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

17.7
13.8
12.3
10.2
9.9
10.2

10.4
9.4
7.4
7.7
8.4

7. 1
5.2
6.2
7.3

10.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK

AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

aiLkiONS.
298.0
299.0
296.0

6 20
NOV

4 18
DEC

1

15 28 12 26 12 26
FEB
MAR

0 23

7 21

4 18

2 18 30 13 27 10 24
AUG
SEP

8 22

3 18

3 17 31

14 28

1975
LATEST DATA PLOTTED WEEK ENDINGt DECEMBER 10,
CURRENT DATA APPEAR

IN THE BOARD OF GOVERNORS’

1975
H.6 RELEASE.

THE MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AND COIN HELD BY THE NONBANK PUBLIC.

COMPOUNDED ANNUAL RATES OF CHANGE ,
12/11/74

3/12/75

5/7/75

AVERAGE OF FOUR WEEKS ENDINGt

6/11/75

7/9/75

8/13/75

9/10/75

10/8/75

5. 1
5.9
3.2
3.4
4.2

4.2
1.2
2. 1
3.2

1 . 1
2.3
3.7

0.0
2.5

6.0

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
5/ 7/75
8/11/75
7/ 9/75
8/13/75
9/10/75
10/ 8/75
11/12/75
12/10/75


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

0.8
4.4
5. 1
4.6
4.9
3.9
4.0
4.3

10.4
10.2
8.2
8. 1
6.2
6.0
6.2

15.9
10.5
9.9
7.0
6.5
6.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

YI ELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
12.0 r~

PERCENT

—I 12.0

11.5

11.5

11.0

11.0

10.5

10.5

10.0

10.0

9.5

9.5
BONDS

9.0

9.0
8.5

8.5

’RIME BANK
PAN RATE

8.0

8.0

7.5

7.5

UNI Cl PAL
I0NDSX8K
7.0

7.0

6.5

8.5
6.0

6.0
COIkMERCIAL PAPER
5.5

5.5

5.0

5.0

4.5

4.5

0

M I I
1

13 29 13 27 10 24

7 21

FEB

7 21

MAR

4 16

APR

2 18 30 13 27 11 25
JUN
JUL

8 22

5 19

3 17 31

14 it 12 2«

NOV

9 23

DEC
1976

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi DECEMBER 19,

1976
NOV.

7
14
21
28
DEC.
5
12
19 3K
26
JAN.
2
9
16
23
30

6

1975

90 DAY
CD'S***

PRIME
COMMERCIAL
PAPER
4-6 MONTH

PRIME
BANKERS'
ACCEPTANCES

CORPORATE
Aaa bonds

MUNICIPAL
B0M3S KK

6.45
6.32
6.10
6.23
6.35
6.32
6.10

6.03
5.88
5.88
5.88
5.96
6.03
6.04

5.79
5.77
5.79
5.80
5.80
5.81
5.75

8.76
8.75
8.81
8.81
8.84
8.86
8.84

7.52
7.43
7.39
7.39
7.31
7.34
N.A.

* AVERAGES OF RATES AVAILABLE.
BOM) BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS. THURSDAY DATA.
*XX SEVEN-DAY AVERAGES OF SECONDARY MARKET RATES FOft THE WEEK END ING WEDNESDAY TWO DAYS
EARLIER THAN DATES SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE.
N.A. - NOT AVAILABLE
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS


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

0

SELECTED SHORT-TERM

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT

11.0
10.5

10.0
9.5
9.0
FEDERAL FUNDS RATE

8.5

8.0
7.5
7.0
6.5

DISCOUNT RATE

6.0
5.5
5.0
4.5
4.0

1

15 29 13 27 10 24

7 21
FEB

7 21
MAR

4 18
APR

2 16 30 15 27

JUN

11

25

8 22

5 19

3 17 31

JUL

14 28 12 28
NOV

9 23

0

DEC

1974
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. DECEMBER 19,

1976
NOV.

DEC.

JAN.

7
14
21
28
5
12
19 K
26
2
9
16
23
30

1975

FEDERAL
FUNDS**

3-MONTH
TREASURY
BILLS

1-YEAR
TREASURY
BILL

3-5 YEAR
GOVERMrfENT
SECURITIES

LONG-TERM
GOVERNMENT
SECURITIES

5.17
5.24
5.24
5.28
5.25
5.26
5.17

5.50
5.37
5.49
5.54
5.57
5.60
5.49

5.89
5.96
6.17
6.24
6.30
6.43
6.26

7.41
7.38
7.60
7.62
7.59
7.67
7.52

7.17
7.17
7.25
7.24
7.23
7.26
7.19

* AVERAGES OF RATES AVAILABLE.
** SEVEN-DAY AVERAGES F'n “EEK ENDING WEu,E"9AY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IK iHE BOARD OF GOVERNORS' H.9 RELEASE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

NET TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS of dollars

billions of dollars

375
BILLIONS

370

366. 1
367.7
368.5
370.0
370.1
371.6

365

360

355

350

345

340

335

330

325

0

6 20

4 18

NOV
DEC
1974

1

13 29 12 28 12 20

JAN

FEB

MAR

9 23

APR

7 21

4 18

MAY

JUN
JUL
1975

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 10,

2 18 30 13 27 10 24

AUG

SEP

8 22

OCT

5 19

NOV

3 17 31

DEC

14 28

JAN
1976

1975

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
K NET TIME DEPOSITS ARE DEFINED AS: SAVINGS DEPOSITS. TIME DEPOSITS OPEN ACCOUNT PLUS TIME
CERTIFICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN
DENOMINATIONS OF 8100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.

NET TIME DEPOS1TS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
12/11/74

3/12/75

12. 1
13.5
14.2
13.9
13. 1
12.5
12.5
12.7

14.4
15.6
14.7
13.4
12.5
12.5
12.8

5/7/75

6/11/75

7/9/75

8/13/75

9/10/75

6.5
8.9
10.3

10.0
11.6

10/6/75

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/ 7/75
6/11/75
7/ 9/75
8/13/75
9/10/75
10/ 8/75
11/12/75
12/10/75

8


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

19.4
16.6
14.2
12.8
12.8
13. 1

15. 1
12.3
1 1.0
11.4
11.9

9.3
8.5
9.7
10.6

13.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

230

BILLIONS OF DOLLARS

---------- ,---------- ,--------

----- ------------- ----------

230

BILLIONS

223.4
224.7
223.0
223.3
225. 1

222.2

6 20
NOV

4 18
DEC

JAN

FEB

MAR

APR

MAY

4 18
JUN

1974

2 16 30 13 27 10 24
JUL

AUG

8 22

5 IS

3 17 31

14 28

SEP

1975

LATEST DATA PLOTTED WEEK ENOINGi DECEMBER 10,
CURRENT DATA APPEAR

IN THE BOARD OF GOVERNORS•

1975
H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING:
12/11/74
3/12/75
5/7/75 6/11/75
7/9/75 8/13/75 9/10/75 10/8/75
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/ 7/75
6/11/75
7/ 9/75
8/13/75
9/10/75
10/ 8/75
11/12/75
12/10/75


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

-1.2
3.0
3.8
3.2
3.8
2.6
2.6
2.9

10.6
10.3
7.9
8.0
5.7
5.3
5.3

16.5
10.3
9.9
6.5
5.8
5.7

4.0
5.4
2. 1
2.3
2.7

3.7
0.0
0.8
1.6

0.0
1.1
2.1

-2.1
0.2

4.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
BILLIONS OF DOLLARS

WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
98

96
94
92
90
88
86
84
82
80
78
76
74

8 20

4 18

1

IS 29 12 28 12 28

9 23

NOV
DEC
1974

7 21

4 18

2 16 30 13 27 10 24

1975

8 22

5 19

3 17 31

14 28

1976

LATEST DATA PLOTTED WEEK ENDING. DECEMBER 10, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 8100,000 OR MORE BY LARGE
WEEKLY REPORTING COMMERCIAL BANKS.

1976
NOV.

DEC.

JAN.

5
12
19
26
3
10
17
24
31
7
14
21
28

CERTIFICATES
CERTIFICATES
OF DEPOSIT
OF DEPOSIT
NOT SEAS. ADJ.
SEAS. ADJ.
82.7
82.5
82.8
83.0
83.5
83.4

81.0
80.9
81.2
81.5
82.4
82.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

10

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

BORROWINGS FROM FEDERAL RESERVE BANKS
ALL MEMBER BANKS IN THE NATION

BILLIONS OF DOLLARS
"
3.5
=
3.0
2.5

2.0
1.5

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
3.5
1 rn —
07 JS

kill i inu2.
i
NC)V.
12
40
19
59
74
26
3
67
D£IC.
10
30
17
45

zz
zz
zz
=/'

— 3.0

—
—

2.5

2.0
1.5

TT
TT

1.0
—
0.5
—

1.0
0.5

ZZ

111

111 Jill

NOV
DEC
1974

JAN

111

111 J 111

111

111 _LLJ 1

111

FEB

MAR

MAY

JUN
JUL
1975

AUG

APR

ALL J_LLL ALL Jill _LLL
• » 5 It S 17 SI M 2t
SEP

OCT

NOV

DEC

JAN
1978

LATEST DATA PLOTTED SEEK ENDINGt DECEMBER 17, 1975

BUSINESS LOANS
( COMMERCIAL AND INDUSTRIAL )

BILLIONS OF DOLLARS
134 -------------------- --------

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
----- ------------- ---------- 134

€D ANNUAL RATES
__I THE i FOUR rnvi kS ENDING
w,
wi a WE£

AUG. 13

1975

JUN. 11
MAR. 12
DEC. 11

1975
1975

-2.4
-6.9

8.0

-

mu
6 20

4 18

1

15 29 12 20 12 26

FEB

9 25

7 21

4 18

1974
LATEST DATA PLOTTED WEEK ENDING. DECEMBER 10,


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

2 16 50 13 27 10 24

MAR

AUG
1975

8 22

5 19

3 17 31

14 28

SEP
1976

1975
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

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

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

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
540

COMPOUNDED ANNUAL RATES OF CHANGE.
AVERAGE OF THE FOUR WEEKS ENDING
DECEMBER 10. 1975 FROM THE FOUR
WEEKS ENDING.
CREDIT
CREDIT
PROXY

IBQW
1975
1975
1975
1975
1975
1975
1974

JUL.

530

AkfliSIEE
10.5
520

.CREDIT PROXY ADJUSTED 1/

510

500

CREDIT PROXY

490
CREDIT
CREDIT
■ffiflXY

ADJUSTED
480

502.3
504.9
505.6
508.1

6 20
NOV

4 1#
DEC

1

15 29 12 26 12 26
FEB
MAR

9 23

7 21
MAY

4 16
JUN

LATEST DATA PLOTTED WEEK ENDING. DECEMBER 10,
CURRENT DATA APPEAR

IN THE BOARD OF GOVERNORS'

1/ INCLUDES MEMBER BANK ’
U.S. BANKS, AND CERTA

2 16 30 13 27 10 24
AUG
SEP

8 22

5 19

510.3
513.1
513.5
514.1
516.2
514.8

3 17 31

470

14 26

1975
H.9 RELEASE.

'OSITS, BANK-RELATED COMMERCIAL PAPER, EURODOLLAR BORROWINGS OF
OTHER NONDEPOSIT SOURCES.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS