Full text of U.S. Financial Data : Week Ending: April 15, 1970
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AS u.s. rinnncmL drth Week ending: April 15, 1970 library The money stock increased at a 4.8 per cent annual rate from the four weeks ending January 7 to the four weeks ending April 8, compared with about no change from June to December 1969 (page 5). Large jumps in the demand deposit component of money contributed to high four-week average figures in late December and early January and again in late March and early April. Demand deposits have increased at a 3.9 per cent annual rate in the last three months, after essentially no change from June to December 1969. The monetary base has risen at a 4.8 per cent rate in the last six months, following little change from May to September 1969 (page 2). By comparison the base increased at a 6.4 per cent annual rate in 1967 and 1968. Most short-term market interest rates have changed little during April, after declining in the previous three months (pages 10 and 11). The three-month Treasury bill rate averaged 6.34 per cent in the three days ending April 15, compared with about 8 per cent in early January. Yields on prime four- to six-month commercial paper averaged 8 per cent in the three days ending April 15, compared with about 9 per cent in early January. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Yields on longer-term Government securities have also moved down on balance since the beginning of the year. Long-term Government bond yields averaged 6.42 per cent in the three days ending April 15, compared with 7 per cent in early January. Yields on three- to fiveyear Government securities averaged 7.34 per cent in the first half of this week, compared with 8.26 per cent in early January. Yields on highest-grade seasoned corporate bonds have changed little since late December 1969 and averaged 7.82 per cent in the three days ending April 15. Time deposits at commercial banks have increased since the beginning of February and show a 3.3 per cent annual rate of growth in the last three months, compared with a 5.3 per cent rate of decline in the previous year (pages 6 and 8). Lower short-term market interest rates and higher ceilings on rates banks may pay for time de posits have increased the ability of banks to compete for these funds. Prepared by Federal Reserve Bank of St. Louis Released: April 17,1970 Seasonally adjusted by this bank nio TMonetaryr Base 7*. 131 7*. 791 tiiv, 78, *71 78,833 ■ 7% 7 J une 11, P Monetary Base '-hi.y T T 79 r T-W * t 80 Annual rates of change, average of four weeks ending April 15, 1970 from four weeks ending: MonetaryF.R. Base Jan. 14, 1970 +-S.I Oct. 15, 1969 + ^.8 July 16, 1969 +- 3-4 Apr. 16, 1969 + 3- 3 r 81 I I I I I I I I I I I 1-i L I I I I M II I | Billions of I 82 of Dollars -r- T -r (ill MONETARY BASE [1 FEDERAL RESERVE CREDIT \2 Averages of Daily Figures 78 77 iiilllllll 76 75 Uses of the monetary base are member bank reserves and currency held by the public and nonmember banks, adjusted for reserve requirement changes and shifts in deposits For a description of the base see the August 1968 Review of this bank. Federal Reserve Credit 74 65 njo 64 63 62 0 illill ill! bf, 939 If, 73 C l4,83C Defined to include holdings of securities, loans, float, and 'father" assets, adjusted for reserve requirement changes and changes in requirements due to shifts in deposits among classes of banks. — 1— .1 11 L. -L I 17 1 15 29 12 ~%6 10 24 7 21 4 18 4 18 Latest data preliminary Latest data plotted week ending: Apr. 15, 1970 i i i i j 111 -J—I— 11114 l~~l 8 22 5 19 5 19 2 16 30 14 28 Jl 25 9 23 6 20 3 Jan. Feb. Mar. Apr. Ma;June July Aug. Sept. 1969 http://fraser.stlouisfed.org v Federal Reserve Bank of St. Louis Oct. Nov. Dec. Jan. Feb. Mar. 7 P- 1 15 i 24 29—I—l—i—i 13 27 l 10 Apr. 1970 Prepared by Federal Reserve Bank of St.Louis May June 8 ?2 July RESERVES All Member Banks in the Nation Averages of Daily Figures Billions of Dollars Billions of ■ol 1 ars Seasonally Adjusted Annual rates of change average of four weeks ending April i5, 1970 from four weeks ending: 30.0 Jan. Oct. July Apr. 14, 15, 16, 16, 1970 1969 1969 1969 29.5 -June 11, t969 1959-1969 29.0 28.5 TOTAL 28.0 27.5 27.0 26.5 Series adjusted by the Board of Governors to reflect changes in reserve requirements. For comparability, back data have been re vised due to the change in Regulation D effec tive July 31, 1969 requiring member banks to include all "bills payable checks" and so-called "London checks" as deposits subject to reserve . requirements. "Latest data preliminary Latest data plotted Apr. 15, 1970 ^1.1 I I I I I I I I I I | I 8 22 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 19 5 19 2 ! 30 14 28 May 11 25 June 9 23 July 1969 Aug. TOTAL RESERVES 26.0 27.-JL 2.7./ 25.5 Data exclude increase in required reserves of about $400 million due to changes in Regulations M and D effective Oct. 16, 1969. 25.0 Current data including required reserves due to changes in Regulations M and D effective October 16, 1969 appear in the Board's H. 9 release. 24.5 3 17 Sept. 1 15 29 12 20 10 24 7 21 4 18 1 15 29 13 27 10 24 Apr. May June 1970 Prepared by Federal Reserve Bank of St. Louis 8 22 July 0 i IX i DEMAND DEPOSIT COMPONENT OF MONEY STOCK Averages of Daily Figures of Dollars Billions of Dollars 171 170 169 168 167 166 J Jan. Oct. July Apr. 7, 8, 9, 9, 169 168 1970 1969 1969 1969 167 166 - 4. 165 Dec. 17 - March 25 =fc 164 162 170 Annual rates of change, — ending April 8, 1970 from four weeks ending: 165 163 171 I average of four weeks 164 June 11 - Dec. 17 163 ■ 1957-1969 162 161 161 160 1 — - \ 158 157 160 fr - 159 159 158 457.7 ~ 157 —j 156 156 155 155 154 154 153 L 153 152 152 151 151 150 150 149 .7 yy j/ o? 9 JuJr ¥ // /? JS Tha*. i // /g v 147 146 145 144 143 Current data appear in the Board's H.6 release. 142 141 0 - ma- 148 148 AT h ■ S’ /Si,./ /js.s /<5q2 9 /■SZ.-1 /S4.A. /S3- 1 /S3-1 / j y J. /sj. i 1Z r http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 19 Feb. 5 19 Mar. Apr. May June July 1969 Aug. if. _ _ _ _ _ _ P 7 ' 1 _ 15 29 13 27 10 24 8 22 Apr. May June July 1970 J ~H I I I 1 14 1 I I I I 1 II I I i 11 I l .. . . . . . . . . . . . . . . . . . . I i i i I i 5 i Sept. Oct. Nov. Dec. Jan. Feb. 4 18 Mar. 1 Prepared by Federal Reserve Bank of St. Louis rJ 147 146 i£3.s " Latest data preliminary Apr. 8, 1970 Latest data plotted week ending: 149 145 144 143 142 141 0 MONEY STOCK Averages of Daily Figures of Dollars 215 rt T ITTT r X I TTrrrr 1 1 1 i 1 1 1 1 1 1 1 1 1 1 1 i Annual rates of change , average of four weeks 1970 from four weeks endine: r i 214 213 212 Jan. 7, 1970 Oct. 8. 1969 July 9, 1969 7 1969 211 210 Billions of Dollars 215 T 214 213 212 •t 3-1 A- a L AP 211 209 17 - March 25 210 1— -t -f —\— y- 209 208 208 207 June 11 206 i qs7 - 1969 uec. 1 0, ( -4- 'Z 207 A 1 206 p 205 V 204 205 A ov.? 204 —1— 203 203 202 202 201 201 200 K u 199 f) * 1 T. 198 197 196 A j V J 7 200 /* r Xk sb 199 ns — 198 197 A LJ / -J 196 195 r LL 194 V 195 1-.. 194 193 193 192 / J / TYiOA^ 191 192 v 'XOC • (0 • 0 /??■ 7 a oc.3 II /* 190 ^00 5-5 h, ■&> £c¥.s? 3 1 2 189 3.0 188 185 0 190 189 188 187 186 191 187 CtIT]reiit d at a a Boaird H. re leas e 1 1 1 ' • < ' ' ■ 1 1 1 1 1 1 1 1 1 1 1 1 1 ' • _ Latest data prel iminar y — Latest data plotted wee k endine: Ann 8, 1970 _J__L, _L_L_L_J__1__ 1__1_1_1_1__ 1__1_1_ —L—1_ —s---1__ i .i Q 79 O J an http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Mat Apr. May ne July 1969 186 I 1 | _[ J 1 _1_U--1. 1__1_1_ Am:. Sept. Oct. Nov. Dec. J an. Fell. Mar. Apr. 1970 Prepared by Federal Reserve Bank of St May Louis I | 1 11 June I -4 I13 July 185 0 Hit TIME DEPOSITS All Commercial Banks Averages of Daily Figures f Dollars 234 Billions of Seasonally Adjusted 232 Annual rates of change, average of four weeks ending April 8, 1970 from four weeks ending: 230 228 Jan. 7, 1970 Oct. 8, 1969 July 9, 1969 226 224 222 1957-1969 220 218 216 214 212 210 208 206 204 202 200 198 196 194 192 190 188 186 184 182 If3.3 180 178 Current data appear in the Board's H.6 release. ----- 176 I 0 I I ! I II i I I I I I I i i i i i ■ i i i i i ! i 1 Latest data preliminary Latest data plotted week ending: Apr. 8, 1970 174 8 22 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 19 5 30 14 28 9 23 6 20 3 17 29 12 26 10 24 7 21 4 18 4 18 1 15 29 13 27 10 24 June June 1969 Prepared by Federal Reserve Bank of St. Louis 8 22 illii MONEY STOCK PLUS TIME DEPOSITS Averages of Daily Figures Seasonally Adjusted of Dollars 432 430 428 426 424 Annual rates of change, average of four weeks ending April 8, 1970 from four weeks ending: — Jan. 7, 1970 Oct. 8, 1969 July 9, 1969 422 420 Billions of — 0.1 June 11, 1969 418 416 1957-1969 414 412 410 408 406 404 402 400 398 396 394 392 390 388 386 384 382 380 378 376 374 372 0 Current data appear in the Board's H.6 release. ~t~ Tiiititt 1111 1 11 1 1 i» ir~i r rTT'Latest Data Preliminary Latest Data Plotted Week Ending: Apr. 8, 1970 1111 1 1 1 1 1 1 1 1 1 i 1 1 1 m r11111111 22 5 19 5 19 2 16 30 14 28 11 25 9 23 ran. Feb. Mar. Apr. May June July 1969 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I l l l l 1 M- I 1 I 1 I I 1 1 I 6 20 Aug. 3 17 1 Sept. 15 29 12 26 Oct. Nov. 1 1 II I 1 I 1 IT I 1 I 1 I 1 I II 11 I I T FT 1 1 1 I I 1 I 1 10 24 Dec. 7 21 Jan. 4 18 Feb. 4 18 Mar. 1 15 29 13 27 10 24 Apr. May June 1970 Prepared by Federal Reserve Bank of St. Louis 8 22 July CERTIFICATES OF DEPOSIT H Large Commercial Banks Wednesday Figure* t of Dollars Billions of miii i Annual rates of change, data not seasonally adjusted, average of four weeks ending Apr. 8, 1970 from four weeks ending: 24 Jan. Oct. July Apr. 22 20 7, 8, 9, 9, 1970 1969 1969 1969 + 7.0 ^ in. o '35-7 1964-1969 18 16 14 12 10 8 Millions of Dollars fO, 7JS mo 6 /o, y-§? /oyuJ/ 4 /o^sGt 4 2 0 Current and year ago data appear in the Board's H. 4. 2. release. 1/ Negotiable time certificates of deposit in denominations of $100, 000 or more. I 1 1—1 1 i 1 ■ I l: I I I *1 I I I .1 I I I ■ I Latest data preliminary Latest data plotted: Apr. 8 I—1—1—I—I_1—1_1_I__1 ■ f 16 30 14 28 11 25 9 23 Apr. May June July 1969 ’ http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis - /0, /O,.9*4. _.H//, £>// ! ' — U.JIPJ / / 3J~&- r*e> j H gni 15 29 Oct. 12 26 10 24 Nov. Dec. Jan. 13 27 10 24 May June Prepared by Federal Reserve Bank of St. louls 8 22 July ill BUSINESS LOANS Large Commercial Banks Wednesday Figures of Dollars Billions of Seasonally adjusted by this bank 88 Annual rates of change, average of four weeks ending April 8, 1970 from four weeks ending: _ Jan. Oct. July Apr. 86 7, 8, 9, 9, 1970 1969 1969 1969 86 84 84 1960-1969 82 82 80 80 78 78 76 76 74 74 MILLIONS OP DOLLARS ' SEASONALLY ' UNADJUSTED ADJUSTED . 72 72 70 70 68 68 7/ gto 66 66 Latest data preliminary Latest data plotted: Apr. 8, 1970 0 ■llllltillll.il 8 22 Jan. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 19 Feb. . 5 19 Mar. 2 IT1 16 30 Apr. __________________ ill...................... . . . i i i II II I 11 I I " 14 28 11 May 25 9 June 23 July 6 20 Aug. 3 17 Sept. 1 15 29 Oct. 12 26 10 24 Nov. Dec. 7 21 Jan. 4 18 Feb. 4 18 Mar. 1 15 Apr. 29 13 27 May 1969 Prepared by Federal Reserve Bank of St. Louis 10 24 June 8 22 Jul 0 YIELDS ON SELECTED SECURITIES Averages of Daily Rates Ended Friday Per Cent Per Cent 9.50 Prime Commercial Loan Rate 8. 50 Corporate Aaa Bonds 8.00 . 8.00 Three-Month Treasury Bill_ Market Yield - 6.50 6.50 Long- Term Government Bonds 6.00 Discount Rate ■3-5 Year Long Term Corporate 4.00 Latest data plotted are averages of rates available for the week ending: April 17, 1970 II<11II<1II<II L I 1 I I I I................. 10 24 J an. 7 21 Feb. 7 21 Mar. 4 18 Apr. *AVERAGES OF RATES AVAILABLE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 16 30 May 13 27 11 25 June July 1969 8 22 Aug. - 5 19 Sept. 3 17 31 14 28 12 26 Dec. 9 23 J an. 6 20 6 20 3-17 Mar. Apr. 1970 1 15 29 12 26 10 24 May June *' July Prepared by Federal Reserve Bank of St. Louis 11 SELECTED SHORT-TERM INTEREST RATES Averages of Daily Rates Ended Friday Per Cent 11.00 Per Cent 11.00 10. 50 10.50 10.00 10.00 Commercial Paper 4-to- 6 Month 9.50 9.50 Federal Funds Rate 9.00 9.00 8.50 8.50 Bankers' Acceptances 8.00 8.00 1970 7.50 •j’rime Commercial Prime Paper Bamkers iA-^_Montli-_ Acceptances a.-re ? • i-o 7.00 7.50 7. fvT 8.03 7-/7 2.o8 2. OS 7.J-S 7.H3 7‘38 <?.SC 90 Day 7.00 6.50 6.50 6.00 6.00 Discount Rate 5.50 Latest data plotted arc averages of rates available for the week ending: April 17, 1970 10 24 7 21 7 21 4 18 2 5.00 0 i i ' i i Jan. 1970 ** SOURCE: SALOMON BROTHERS AND HUTZLER SECONDARY MARKET RATE ON 90-DAY PRIME CD'S http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis 12 BORROWINGS AND EXCESS RESERVES All Member Banks in the Nation Averages of Daily Figures Millions of Dollars 3,200 3,000 EXCESS RESERVES 2,800 '3? 2,400 2,200 I-TO 6a ? 2,600 3,200 ill!—r FREE BORROWINGS RESERVES 833 939 817 M? 7 / 3 to Millions of Dollars 9 3( 9-So V9(c /0310 -(,9 V -S9A. —(78 2,800 -8(3' 2,600 —(.yo -3^^ ~ 9(cO p 2,200 2,000 1,800 Borrowings 1,600 1,400 1,200 1,000 .Excess Reserves 1,000 - 1,200 - Net Free Reserves -1,400 -1,600 -1,800 2,000 - 2,200 2,200 - -2,400 -2,600 Latest data preliminary Latest data plotted week ending: April 15, 1920 -3,000 22 J an. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5 19 5 19 2 16 30 14 28 11 25 9 23 6 20 3 17 1 15 29 12 26 10 24 7 21 4 18 4 18 1 15 29 Apr. 13 27 10 24 May June Prepared by Federal Reserve Bank of St. Louis 8 22 July