Full text of U.S. Financial Data : Week Ending: April 11, 1979

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

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Week ending: April 11, 1979
LIBRARY

The adjusted monetary base has progressively slowed
since October of last year.
In the 5 months from the four weeks
ending November 1 to the four weeks ending April 4, growth of the
adjusted monetary base slowed to a 5.5 percent annual rate,
compared to a 9.8 percent rate of increase in the first 10 months
of 1978. Although the growth of currency has slowed slightly
since October, it has remained relatively stable over the last
few years. Thus, the marked reduction of the adjusted monetary
base in the last 5 months primarily reflects reduced growth of
bank reserves
(adjusted monetary base less currency held by the
nonbank public).
Since the end of October, bank reserves
declined at about a 2 percent rate, compared to a 9.7 percent
rate of increase in the previous 10 months.
Since growth of currency has slowed only slightly, the
reduction in Ml growth which has paralleled the deceleration of
the growth of the base primarily reflects a decline in demand
deposit growth.
In the most recent 5 months, Ml has declined at
a 1.6 percent rate, compared to an 8 percent rate of increase in
the previous 10 months.
In the same periods, demand deposits
fell at a 5.3 percent rate from a rate of increase of 7.3
percent.
GROWTH RATES OF THE ADJUSTED MONETARY BASE
AND MONETARY AGGREGATES*
1/7/76
to
1/4/78

1/4/78
to
11/1/78

11/1/78
to
4/4/79

52
^

Bank Reserves

6.8

9.7

-2.1

Ml

7.2

8.0

-1.6

Demand Deposits

6.4

7.3

-5.3

Currency

9.6

9.7

9.1

00

8.6 7,

O
h

Adjusted Monetary Base

5.5 %

* Compounded annual rates of change, four-week
averages.


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

Prepared by Federal Reserve Bank of St. Louis

,

Released: April 13 1979

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

146

BILLIONS OF DOLLARS
M8

1979
MAR.
143.8
144.2
144.3

144

142

140
138

136
134

132

130

1 13 29 12 26 10 24

7 21
JUN

5 19
JUL
1978

2 16 30 13 27 11 25

8 22

6 20

5 IT 31 14 28 14 28 11 23
FEB MAR
APR
1979

LATEST DATA PLOTTED WEEK END INOs APRIL 11, 1979
THE ADJUSTED MONETARY BASE CONSISTS OF* ( 1 ) MEMBER BAMC RESERVES AT THE FEDERAL RESERVE
BANKS (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF
CoSeRCIAL BANKS' AND (3 1 AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES. THE
MAJOR SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT. DATA ARE COMPUTED
BYTHISBAt*. A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM
THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR.WEEKS ENDINGi
4/12/78

7/12/78

9.7
10.3
10.4
9.6
9. 4
9.0
8.6
8. 1

10.0
10.2
9.0
8.8
8.4
7.9
7.3

9/13/78 10/11/78

11/8/78 12/13/78

1/10/79

2/14/79

5.4
4.3

3.2

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
9/13/78
10/11/78
11/ 8/78
12/13/78
1/10/79
2/14/79
3/14/79
4/11/79


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

12.3
9.6
9. 1
8.4
7.8
7.0

7.7
7.6
7.2
6.7
5.9

6.3
6.2
5.8
5.1

6.7
6.1
5.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

RATIO
?.S

RATIO
2.9

MULT IP LIER
V___

ISja

RAT 1C

FEB. 28
MAR.
7
14

2.480
2.498
2.495

APR.

2.492

t

Si {:»

I

1111
111 111
lll i i i i
i ii i 111
LATEST DATA PLOTTED WEEK ENDING] APRIL 4. 1979

-LU.

111

1 1 1 L

1 1 1

jiii

4

1

BILLIONS OF DOLLARS
I2S
1
1--------- 1-----------1 ?6
124
122
120

l

i i i

i i i

l

i i i:

BILLIONS OF DOLLARS
28

COMPOUNDED ANNUAL RAT ES
---- OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
" APR 1L 11, 1979 FROM
---- THE FOUR WEEKS END 1NG • - FE B. 14, 1979
2.6
JAN. 10, 1979
4.9
---- DE C. 13, 1978
6.4
_ NOV.
8, 1978
6.5
OC T. 11, 1978
8.0
---- JU
_ AP R. 12, 1978
9.4

126
AD. USTED ■EDER/ L RES erve a EDIT

124
122
120
-

A.

118

'V

-

-

.

118

-

-

116

1 16
-

ISi[fi
MAR.

=ni

-Ll 1 1

111

1111

MAR

APR

MAY

111

111

Mil j-i. i

111

1111

16 30 IS 27 1! 23

FEB

JUL
AUG
SEP
1978
LATEST DATA PLOTTED WEEK ENDING. APRIL II, 1979

OCT

8 22

NOV

1 J 1

1.1 iii

6 20

9 17 31

DEC

JAN

BILLIONS

7
14
21
28
4
11
i i i

125.4
124.9
—
125.3
124.9
“
125.1
—.
125.2
1 i i i 1 n i!

14 28 14 28 11

FEB MAR
1979

29

APR

1/ RATIO OF MONEY STOCK (Ml 1 / ADJUSTED MONETARY BASE
2/ FEDERAL RESERVE CREDIT CONSISTS OF FEDERAL RESERVE HOLDINGS OF vnn i T ipc i
AND OTHER ASSETS. ADJUSTED FEDERAL RESERVE CREDIT IS COMMUTED BY5HlRTRAr+1

raMsswuWs&sK* ess


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

duk

ci ait

SOTSt
PREPARED BY FEDERAL RESERVE BAt* OF ST. LOUIS

3

4

MONEY STOCK PLUS NET TIME DEPOSITS (M2)
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

1979

BILLIONS of dollars

BILLIONS

MAR.

876.0
879.7
879. 1
879.7

APR.

882.4

-E 830

■= 815

— 805
1 111

111-1.
JUN

JUL
1978

LATEST DATA PLOTTED WEEK ENDING* APRIL 4, 1979
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 END 1NG:
4/5/78

7/5/78

10.6
10.9
10.3
9.4
8.7
7.5
7.2
6.9

11.4
10. 1
8.8
7.8
6.3
6.0
5.8

9/6/78

10/4/78

11/1/78

12/6/78

1/3/79

2/7/79

9. 4
7.4
6.2
4.4
4.3
4.3

5. 2
4.3
2.7
2.9
3. 1

3. 4
1.7
2.2
2.5

0.3
1.4
2.0

0.9
1.9

3.9

TO THE AVERAGE
OF FOUR WEEKS
ENDING*
9/
10/
11/
12/
1/
2/
3/
4/

6/78
4/78
1/78
6/78
3/79
7/79
7/79
4/79


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

billions of dollars

BILLIQM&
__ FEB.
MAR.

356.4
360.2
358.8
359.7
358.9

— APR.

5

IB

2

II 30

13 2T

II

2i

• 22

6 20

S

IT SI

M 2*

14 2«

II

25

1079

1078
LATEST DATA PLOTTED WEEK ENDING. APRIL 4, 1979
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE.

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

MONEY STOCK (Ml
COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS END 1NGi
4/5/78

7/5/78

9/6/78

10/4/78

11/1/78

12/6/78

9.6
7.4
5.2
4.7
2.8
2.3
2.2

6.9
3.4
3. 1
0.8
0.5
0.6

-1.0
0.0
-1.9
-1.8
-1.3

-0.2
-2.5
-2.2
-1 .6

-2.8
-2.3
-1.4

1/3/79

2/7/79

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
9/
10/
11/
12/
1/
2/
3/
4/

6/78
4/78
1/78
6/78
3/79
7/79
7/79
4/79

10. 1
10.7
9.3
7.6
7.0
5.4
4.8
4.5


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

-4.2
-2.5

0.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
12.5 r—

PERCENT
— 12.5
’RIME BANK
OAN RATE

90 DAY CO’Si

1 1 .0

10.0

lORPORATE Aaa BONDS

COMUERCIAL PAPER

MUNICIPAL
BOMSSj

3 IT

3 IT 31 M 28 12 26
APR
MAY

8 23

7 21
JUL
1078

2 16 2 16 30 13 27
FEB
1079
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDlNGt APRIL 13, 1979

1979
FEB.

2
9
16
23
MAR.
2
9
16
23
30
APR.
6
13 X
20
27

90 DAY
CD'S Msec
10.20
10. 13
10. 17
10.16
10.26
10.14
10.16
10.20
10.09
9.99
10.09

1 13 28 13 27 10 24

8 22

AUG

PRIME
COMMERCIAL
PAPER
4-6 MONTH
10.07
9.39
10.02
10.03
10.03
10.01
10.03
9.95
9.81
B. 85
10.03

PRIME
BAMCERS*
ACCEPTANCES
9.92
10.03
9. 96
10.06
10.03
0.97
10.00
9.97
9.82
9.90
10.05

3 10
JAN

CORPORATE
Aaa BONDS

MUNICIPAL
BONDS **

9.19
9.23
9.25
9.28
9.36
9.35
9.38
9.38
9.35
9.31
9.36

6. 22
6.31
6. 33
6.39
6.42
6.35
6.30
6. 29
6. 28
6. 25
N.A.

* AVERAGES OF RATES AVAILABLE.
** BO»C BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS. THURSDAY DATA
°P SECOH>ARY MARKET RATES FOk THE WEEK ENDING WEDNESDAY TWO DAYS
EARki§*.
. OATES SHOWN. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H .©RELEASE,
N.A. - NOT AVAILABLE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
1 l .0

10.5
FEDERAL FUNDS RATE
10.0

10.0

DISCOUNT RATE

3-5 YEAR
TREASURY SECURITIES

THREE-MONTH TREASURY
BILL MARKET YIELD

3 17
FEB

3 17 31 M 28 12 28 0 23~
MAR
APR
MAY
JUN
JUL

AUG

1 13 29 13 27 10 24 8 22
SEP
OCT
MOV
DEC

5 19
JAN

2 18
FEB

1978

2 18 SO 13 27
MAR
APR

1979

Latest data plotted are averages of rates available for the week ending! April is. 1979

1979
FEB.

2
9
1 fl
23
MAR.
2
9
16
23
30
APR.
6
13 X
20
27

FEDERAL
FUNDS XX

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
SILL MM

1-YEAR
TREASURY
BILL

3-5 YEAR
TREASURY
SECURITIES

LONQ-TERM
TREASURY
SECURITIES

10.12
10.06
10.15
0.97
10.06
10.07
10.21
10.09
10.00
9.95
9.93

9.28
9. 24
9.28
9.41
9. 44
9.44
9.51
9.54
9.46
8.53
9.70

9.38
9.31
9. 34
9.37
9.50
9.42
9.46
8.48
9.44
9.50
9.57

9.31
9.34
9.35
9.49
9.50
9.40
0.43

9.02
9.07
9.16
9.25
9.32
9.24
9.24
9.24
9.23
9.24
9.32

8.81
8.90
8.96
9.00
9.03
8.98
8.99
8.99
8.97
8.97
9.01

* AVERAGES OF RATES AVAILABLE.

(

I SvvC RATE
TREaIuRY BILrYf^DrON^gg^^Ti.*"6 C0UPUTED


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

9.37

9.29
9.26
9.37

THAN DATE «-*•
THE FEDERAL RES£BVE

°F ST- LOUIS.

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

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

BILLIONS OF DOLLARS
530 r-------- 1------------ 1-----

BILLIONS OF DOLLARS
---------------------------- 530

1979
519.5
519.4
520.3
520.0
521.9
523.0

APR.

1

13

1

13 29

12 26

10 24

7 21

3

JUN

19

2 16 30 13 JT II 23

8 22

6 20

5 17 31

JUL

14 28 14 28 11

23

FEB MAR
1979

LATEST DATA PLOTTED WEEK ENDING* APRIL 4, 1979
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE.
98 NET TIME DETOSITS ARE DEFINED AS* SAVINGS DEPOSITS, TIME DEPOSITS OPEN ACCOUNT PLUS
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 T ME DEPOSITS

•

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING.
2/7/79
1/3/79
7/5/78
9/6/78 10/4/78 11/1/78 12/6/78
4/5/78
TO THE AVERAGE
OF FOUR WEEKS
ENDING.
9/
10/
11/
12/
1/
2/
3/
4/

6/78
4/78
1/7B
6/78
3/79
7/79
7/79
4/79

10.9
11.0
1 l .0
10.7
9.8
9.0
8.9
8.6


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

12.6
12.2
11.4
10.0
8.8
8.6
8.3

1 1.3
10.4
8.5
7. 1
7. 1
7.0

9.7
7.5
6. 1
6.3
6.3

6.0
4.8
5.4
5.5

2.6
4.0
4.5

4.7
5.1

6.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

billions of dollars

1979
FEB.
— MAR.

BILLIONS OF DOLLARS
275

eILLIONS
257.3
260.7
259.7
259.3
259.5

I

13 29

12 26

10 24

3

IB

2

16 30

13 27

11

23

6 22

6 20

3

17

31

14 26

M 26

11

23

FEB MAR
1979
Latest data plotted week ending, april 4, 1979
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.

DEMAND DEPOS T COMPONENT OF MONEY STOCK
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS END 1NG >
4/5/78
7/5/78
9/6/78 10/4/78 11/1/78 12/6/78
1/3/79
2/7/79
TO THE AVERAGE
OF FOUR WEEKS
END 1NG1
9/
10/
11/
12/
1/
2/
3/
4/

6/78
4/78
1/78
6/78
3/79
7/79
7/79
4/79

10.5
1 1 .0
9. 1
6.8
6. 1
3.7
3.0
2.8


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

8.9
6. 1
3.2
2.7
0.0
-0.5
-0.5

5.3
0.8
0.6
-2.7
-2.9
-2.6

-4.5
-3. 1
-6.0
-5.6
-4.8

-3.4
-6.9
-6.3
-5.3

-7.4
-6.4
-5.0

-9.0
-6.5

-2.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

CURRENCY COMPONENT
OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS of dollars

BILLIONS.
— MAR.

99.5
99. I

APR.

99.6
99.9

I I I I
1

13 29

12

26

10 24

7 21

3

19

2

16 30

13 27

11

23

8 22

6 20

1978
LATEST DATA PLOTTED WEEK ENDING: APRIL 4, 1879
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.

CJRRENCY
COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF FOUR WEEKS ENDING:
4/5/78

7/5/78

9/6/78

9. 1
9.9
9.7
9.8
9.8
10.0
9.7
9.5

1 1.7
10.9
10.8
10.6
10.7
10.3
9.9

1 1 .6
1 l .0
10.7
10.8
10.2
9.8

10/4/78

l1/1/78

12/6/78

1/3/79

2/7/79

9.4
9.6
10.0
9.4
9.0

10.0
10.4
9.6
9. 1

10.6
9. 4
8.6

9.2
8.5

6.8

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/
10/
11/
12/
1/
2/
3/
4/

6/78
4/78
1/78
6/78
3/79
7/79
7/79
4/79


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
ALL MEMBER BANKS IN THE NATION
AVERAGES OF DAILY FIGURES

billions of dollars

billions of dollars

iaza millions
1026
1023

1

13 29

12 26

10 24

T 21

3

19

2

16 30

13 27

SEP

II

25

8 22

6 20

3

17

31

OCT

14 28

FEB

1978

14 28

II

23

MAR

1979

latest data plotted week ending< april ii,

1979

BUSINESS LOANS
( COMMERCIAL AND INDUSTRIAL )

BILLIONS OF DOLLARS

m
M2
MO
138
136
134

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

----------- 1--------- 1--------- 1--------” COMPOUNDED ANNUAL RA [ES
— OF CHANGE, AVERAGE 0
_ THE FOUR WEEKS END INI5m
OECEMBER 27, 1978 FR
— THE FOUR WEEKS END 1 Nl i
I_OCT. 25, 1978
4.7
SEP. 27, 1978
7.9
“ AUG. 30, 1978
7.7
— JUL. 26, 1978
7.7
_ JUN. 28, 1978
6.8
MAR. 29, 1978
11.9
ZB,

BILLIONS OF DOLLARS
144
-

M2
-

MO

/ ■

-

138
-

136
-

1

HO NEW DATA AVAILABLE
132

-

/

-

-

130

126

-

-

-

-

128

-

-

12-4

120

-

1 18
51 1 1 1
2

16 30

I 11 XLL XU- mi
14 28

NOV
DEC
1977

11

JAN

8 22

FEB

8 22

MAR

.UX XU 1
3

■11,1

17 81

MAY

1 1 1

14 28

12 26

JUN JUL
1978

M 1 1

1 1 1
6 20
SEP

111
4

18

OCT

128
126

22
139,837
----29
139,735
6
139,776
----13
139,166
20
139,358
27
139,471
;
111111111111 T

122

1

13 29 13 27 10 24

NOV

DEC

JAN
1979

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

130

124

LATEST DATA PLOTTED WEEK ENDINGi DECEMBER 27, 1978


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

132

fcUlUQNS

12U

-v
122

134

120
1 18

0

12
CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS

BILLIONS OF DOLLARS

WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

104
102
100

LATEST DATA PLOTTED WEEK END IMGi APRIL 4, 1979
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
NEGOTIABLE TIME CERTIFICATES OF OEPOSIT ISSUED IN DENOMINATIONS OF 9100,000 OR MORE BY LARGE
WEEKLY REPORTING COMMERCIAL BANKS.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS