Full text of U.S. Financial Data : Week Ending: January 25, 1978
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Week ending: January 25r 1978 Growth of slowing^£|&ce October of last year. Slowing in the growth of deposits at thrifts S&cu^i&d after interest rates on three-month Treasury bills rose more than 50 basis points above the ceiling interest rates on savings deposits and 30-89 day time deposits. In contrast, the ceiling rates on longer-term time deposits were above yields on U.S. Government securities with comparable maturities during most of last year, which was probably a major reason why rising interest rates did not have larger effects on the growth of deposits at thrift institutions. However, the margin by which the Interest ceilings on longer-term deposits exceeded yields on U.S. Government securities has narrowed steadily in recent months. Those yields have been above the corresponding celling rates at thrifts since mid-December for long-term U.S. Government securities and since late December for 3-5 year securities (see page 7). Growth of Deposits at Nonbank Thrift Institutions and Selected Interest Rate Differentials Period 1977 Jan. Feb. Mar. April May June July Aug. Sept. Oct. Nov. Dec. 1978 Jan. Rate of Growth in Deposits Ceiling Rate on .. Short-Term Deposits^ Less Yield on 3-Month Treasury Bills 14.9 2 12.3 11.4 11.1 11.7 12.9 16.6 20.1 20.3 17.4 12.5 9.8 0.63 2 0.58 0.65 0.71 0.29 0.23 0.06 - 0.24 0.56 0.91 - 0.85 0.82 N.A. — Ceiling Rate on ,, 4-6 Year Deposits—' Less Yield on 3-5 Year U.S. Treasury Securities 1.01 0.81 0.77 0.92 0.74 0.92 0.83 0.60 0.58 0.27 0.22 0.10 1.18* - 0.20* Z Ceiling Rate on Deposits with Maturities of 6 Years and Over.5/ Less Yield on Long-Term Treasury Securities 0.40 2 0.22 0.18 0.25 0.18 0.32 0.30 0.25 0.30 0.15 0.07 - 0.02 - 0.26* 1/ Short-term deposits are savings deposits and 30-89 day time deposits. The ceiling interest rate on those deposits at nonbank thrift institutions is 5.25 percent. 2/ 7.50 percent. 3/ 7.75 percent. * Based upon averages of rates available. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Released: January 27, 1978 MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS ---- ----- -----I 134 BILLIONS OF DOLLARS 134 ------ i-----1-BILLIONS __ DEC. 21 129.8 130.1 131.1 130.9 132.2 132.2 1 IS 20 12 26 JAN 0 23 APR FEB SEP MAY OCT DEC JAN FEB LATEST DATA PLOTTED WEEK ENDINGi JANUARY 25, 19T8 MONETARY BASE COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 1/26/77 4/27/77 6/22/77 7/27/77 1 1 .7 10.9 11.1 10.8 9.5 10.8 11.1 11.3 10.9 9.3 8/24/77 9/28/77 10/26/77 11/23/77 TO THE AVERAGE OF FOUR WEEKS ENDINGi 6/22/77 7/27/77 8/24/77 9/28/77 10/26/77 11/23/77 12/28/77 1/25/78 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7.8 8.3 9.0 9.0 9.3 9.3 8.8 9.6 7.4 8.7 8.9 9.3 9.4 8.6 9.7 10.8 10.5 10.2 10.7 8.5 10.4 10.7 8.1 6.5 10.3 10.7 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MULTIPLIER 1/ ADJUSTED FEDERAL RESERVE CREDIT*/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED MULTIPLIER RAT i Q ISIS. DEC. !4 - 2.3 I I I I I I I LATEST DATA PLOTTED WEEK ENDING! JANUARY 18, 1978 BILLIONS OF DOLLARS 114------ 1-----,-- BILLIONS OF DOLLARS --------- ----- n4 COMPOUNDED ANNUAL RATES __ OF CHANGE. AVERAGE OF THE FOUR WEEKS ENDING - JANUARY 25, 1078 FROM THE FOUR WEEKS ENDING: NOV. - OCT. SEP. - AUG. _ JUL. APR. -- JAN. 23, 1977 26, 1977 28, 1977 24, 1977 27, 1977 27, 1977 26, 1977 ADJUSTED FEDERAL RESERVE CREDIT 13.3 13.1 13.3 12.3 12.7 11.5 11.2 1879 BILLIONS 111.8 111.6 112.8 1 15 20 12 26 0 23 0 23 DEC JAN FEB MAR 1976 6 20 APR 4 18 1 15 20 15 27 10 24 MAY JUN JUL AUG 7 21 SEP 5 10 2 16 30 14 28 11 25 DEC JAN 8 22 FEC 1977 LATEST DATA PLOTTED WEEK ENDING! JANUARY 25, 1978 1/ RATIO OF MONEY STOCK (Ml ) / MONETARY BASE. 2/ CONSISTS OF FEDERAL RESERVE HOLDINGS OF SECURITIES. LOANS FLOAT OTHER ASSETS. ADJUSTED FEDERAL RESERVE CREDIT IS COMPUTED BY SUBTRACflNG TREASURY SloHl reserve banks from this series, and adjusting the series for re serve REQUIREMENT RAT 10 CHANGES AND SH1FTS IN THE ^lAMF TYPE OF DEPQSITS BFTWFFN RAMc'c WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY. DATA ARE COMPUTED BY THI^BANK http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK PLUS NET TIME DEPOSITS (M2) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS ---- ----- ----=3 820 820 cz----- 1----- 1-BILLIONS 805. 1 805.8 806.9 813. 1 810.6 812.0 I 15 29 12 26 9 23 JAN FEB 9 23 6 20 4 16 APR MAY 1 15 29 13 27 10 24 7 21 SEP 5 IB OCT 2 16 30 14 28 II 25 6 22 DEC JAN FEB 1978 1976 LATEST DATA PLOTTED WEEK ENDING: JANUARY 18, 1978 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. MONEY STOCK PLUS NET TIME DEPOSITS (M2) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 4/20/77 6/15/77 7/20/77 8/17/77 9/21/77 10/19/77 11/16/77 1/19/77 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/15/77 7/20/77 8/17/77 9/21/77 10/19/77 11/16/77 12/21/77 1/18/78 8.4 9.6 9.7 9.5 9.4 9.1 8.7 8.7 9.8 10. 1 9.7 9.5 9.0 8.5 8.6 12.8 11.1 10.6 9.6 8.9 9.0 9.4 9.2 8.3 7.7 7.9 8. 5 7.5 7.0 7.4 7.1 6.6 7.2 5.6 6.7 7.3 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 5 MONEY STOCK ( Ml ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 345 BILLIONS 333.9 335.4 335.7 340.2 336.6 337.4 340 335 330 325 320 315 310 I I I I 1 15 29 12 26 9 23 JAN FEB 9 23 6 20 4 18 APR MAY 1976 1 15 29 13 27 10 24 7 21 5 19 SEP OCT 2 16 30 14 28 11 25 DEC JAN 8 22 FEB 1977 LATEST DATA PLOTTED WEEK ENDING: JANUARY 18, 1978 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. THE MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AND COIN HELD BY THE NONBANK PUBLIC. MONEY STOCK (Ml ) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 1/19/77 4/20/77 6/15/77 7/20/77 8/17/77 5.4 7.1 7.4 7.7 7.9 7.3 6.9 7.3 8.7 9.0 9.1 9.1 8. 1 7.4 7.9 12.5 1 1.3 10.9 9.2 8. 1 8.7 9.6 9.5 7.7 6.7 7.6 9.3 7.0 5.9 7.1 9/21/77 10/19/77 11/16/77 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/15/77 7/20/77 8/17/77 9/21/77 10/19/77 11/16/77 12/21/77 1/18/78 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5.6 4.7 6.5 2.6 5.6 7.3 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT 10.0 9.5 9.0 8.5 CORPORATE Aaa BONDS 8.0 7.5 7.0 PRIME BANK LOAN RATE 6.5 MUNICIPAL BONDS aex 6.0 5.5 COMMERCIAL PAPER 5.0 90 DAY CD'Saaat 4.5 4.0 9 17 31 14 28 11 25 11 25 JAN FEB 8 22 MAR 6 20 3 17 MAY JUN 1 15 29 12 26 9 23 7 21 4 18 OCT NOV 2 16 30 13 27 10 24 JAN FEB LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JANUARY 27, 1978 1978 DEC. 90 DAY CD’S aBHt 2 6.62 9 6.63 16 6.72 23 6.72 30 6.78 JAN. 6 6.77 13 6.88 20 7.06 27 ** *** 6.97 FEB. 3 10 17 24 PRIME COMMERCIAL PAPER 4-6 MONTH PRIME BANKERS’ ACCEPTANCES 6.57 6.60 6.64 6.68 6.68 6.69 6.77 6.85 6.83 6.46 6.55 6.57 6.65 6.71 6.71 6.98 6.89 6.86 CORPORATE BONDS MUNICIPAL BONDS aet 8.08 8.13 8. 18 8.23 8.28 8.30 8.40 8.44 8.45 5.47 5.54 5.55 5.55 5.66 5.64 5.75 5.74 N. A. Aaa * AVERAGES OF RATES AVAILABLE. N8* BONO BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS. THURSDAY DATA. *** SEVEN-DAY AVERAGES OF SECONDARY MARKET RATES Fofc THE WEEK ENDING WEDNESDAY TWO DAYS , EARLJER THAN DATES SHOWN. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE. N.A. - NOT AVAILABLE 6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED 8Y FEDERAL RESERVE BANK OF ST. LOUIS SELECTED INTEREST RATES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT 8.0 -- 3-5 YEAR TREASURY SECURITIES FEDERAL FUNDS RATE DISCOUNT RATE THREE-MONTH TREASURY BILL MARKET YIELD 3 17 31 M 28 11 25 II 25 8 22 DEC JAN FEB MAR APR 6 20 MAY 3 17 JUN 1976 1 15 29 12 26 9 23 JUL AUG SEP 7 21 OCT 4 18 NOV 2 16 30 13 27 10 24 DEC JAN FEB 1977 ,g78 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JANUARY 27, 1978 1978 DEC. 2 9 16 23 30 JAN. 6 13 20 27 * FEB. 3 10 17 24 FEDERAL FUNDS *K 3-MONTH TREASURY BILLS 1-YEAR TREASURY BILL 3-5 YEAR TREASURY SECUR1T1ES LONG-TERM TREASURY SECUR1T1ES 6.55 6.51 6.49 6.54 6.65 6.69 6.58 6.78 6.72 6.04 6.07 6.03 6.03 6.16 6.20 6.60 6.48 6.44 6.49 6.52 6.50 6.53 6.57 6.57 6.94 6.84 6.83 7.29 7.36 7.38 7.43 7.51 7.52 7.78 7.75 7.76 7.66 7.72 7.75 7.81 7.88 7.91 8.05 8.04 8.05 * AVERAGES OF RATES AVAILABLE. " tSSIurY THAN DATE SKm‘B?L?"TfifoIRONSD?SC^NTRBAsTi.C°“>UTE° BV THE FEiERAL RESEBVE “* « «!• LOUIS. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS NET TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS BILLIONS 471.3 470.4 471.3 472.9 47 .0 47 4.7 425 1 15 20 12 26 JAN 0 25 0 23 FEB 6 20 4 18 APR MAY 1 15 20 13 27 10 24 7 21 5 10 2 16 30 14 28 1 DEC 1977 1976 25 8 22 JAN FEB 1978 LATEST DATA PLOTTED WEEK ENDING: JANUARY 18, 1978 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. 38 NET TIME DEPOSITS ARE DEFINED AS: SAVINGS DEPOSITS, TIME DEPOSITS OPEN ACCOUNT PLUS TIME CERT 1FICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME dERTIFICATES OF DEPOSIT lSSUED IN DENOMINATIONS OF 8100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS. NET TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 4/20/77 6/15/77 7/20/77 8/17/77 9/21/77 10/19/77 11/16/77 1/19/77 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/15/77 7/20/77 8/17/77 9/21/77 10/19/77 11/16/77 12/21/77 1/18/78 8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10.8 11.4 11.4 10.8 10.6 10.3 10.1 9.8 10.8 10.8 10. 1 9.8 9.6 9.3 9.0 12.7 10.9 10.4 9.9 9.5 9. 1 9. 1 8.9 8.6 8.5 8.2 8. 1 8.0 7.9 7.7 8.1 8.0 7.7 7.8 7.4 7.3 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS DEMAND DEPOSIT COMPONENT OF MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS of DOLLARS DOLLARS 245.7 246.9 246.9 251.5 247.9 248.2 — JAN 1 billions of IS 20 12 26 JAN 0 23 FEB 0 23 MAR 6 20 4 18 APR MAY 1 IS 20 13 27 10 24 7 21 SEP 5 10 OCT 2 16 30 14 28 tl 2S JAN 8 22 FEB LATEST DATA PLOTTED WEEK ENDING: JANUARY 18, 1978 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. DEMAND DEPOSIT COMPONENT OF MONEY STOCK COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 1/19/77 4/20/77 6/15/77 7/20/77 8/17/77 4. 1 6.0 6.7 7.0 7.1 6.4 5.9 6.4 8.2 8.9 8.9 8.8 7.5 6.6 7.3 13. 1 1 1.6 10.8 8.7 7.3 8.0 10.0 9.5 7.0 5.7 6.8 8.6 5.7 4.5 6.0 9/21/77 10/19/77 11/16/77 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/15/77 7/20/77 8/17/77 9/21/77 10/19/77 11/16/77 12/21/77 1/18/78 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3.8 2.8 5.2 0.5 4.3 6.5 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 CURRENCY COMPONENT OF MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTtD BILLIONS OF DOLLARS BILLIONS of dollars BILLIONS 88.5 88.7 88.7 88.7 1 IS 20 12 2® JAN 9 23 9 23 FEB 6 20 APR 4 18 MAY 1 15 29 13 27 10 24 1976 7 21 5 19 SEP OCT 2 18 30 14 28 11 25 DEC JAN 8 22 FEB 1977 LATEST DATA PLOTTED WEEK ENDING; JANUARY 18, 1978 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. CURRENCY COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF FOUR WEEKS ENDING: 1/19/77 4/20/77 6/15/77 7/20/77 8/17/77 9.5 9.5 9.4 9.9 9.8 9.6 9.6 10.8 10.1 10.7 10.4 10.1 10.0 9.2 10.3 10.1 9.7 9.7 10.6 10.2 9.8 9.7 9/21/77 10/19/77 11/16/77 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/15/77 7/20/77 8/17/77 9/21/77 10/19/77 11/16/77 12/21/77 1/18/78 10 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9.4 9.9 9,8 9.7 10.0 9,9 9.8 9.8 11.1 10. 1 9.9 9.0 9.0 8.9 PREFARED BY FEDERAL RESERVE BANK OF ST. LOUIS BORROWINGS FROM FEDERAL RESERVE BANKS ALL MEMBER BANKS IN THE NATION BILLIONS OF DOLLARS ---- ----- ----- 2.5 AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS 1M MILLIONS. DEC. 21 1 527 15 29 12 26 JAN 9 25 9 25 FEB 0 20 4 16 APR MAY 1 15 29 15 27 10 24 7 21 5 19 2 15 30 14 29 It 25 SEP OCT DEC JAN 8 22 FEB LATEST DATA PLOTTED WEEK ENDING: JANUARY 25, 1978 BUSINESS LOANS ( COMMERCIAL AND INDUSTRIAL ) WEEKLY REPORTING LARGE COMMERCIAL BANKS SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS _ COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF — THE FOUR WEEKS ENDING - JANUARY 18, 1978 FROM __THE FOUR WEEKS ENDING: MILLIONS DEC. 14 - SEP. 21 10.0 .............Ill 1 15 29 12 26 JAN 9 25 I I I I I 9 23 6 20 4 18 1 15 29 13 27 10 24 7 21 5 19 2 16 30 14 28 11 25 JAN FEB 8 22 FEB LATEST DATA PLOTTED WEEK ENDING: JANUARY 18, 1978 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS WEDNESDAY FIGURES NOT SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 77.4 77.3 7B.6 1 IS 29 12 26 9 23 JAN FEB 9 23 6 20 APR 4 IS MAY 1 IS 29 IS 27 10 24 7 21 SEP 5 19 OCT 2 16 SO 14 2S 11 2S 8 22 DEC JAN FEB 1978 LATEST DATA PLOTTED WEEK ENDING: JANUARY 18, 1978 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. PREPARED BY FEDERAL RESERVE BACK OF ST. LOUIS
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