Full text of U.S. Financial Data : Week Ending: April 16, 1980

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US

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o x\t x\

Week ending: April 16, 1980
V

rates of the monetary aggregates have declined
“rldlnlf^as shown in the table below. The decrease in the growth
rates of MIA and M1B is associated with a decrease in the growth of
the adjusted monetary base. For example, from the four weeks
ending January 9 to the four weeks ending April 9, the adjusted
monetary base grew at a 7.2 percent rate—3.5 percentage points
less than during the three-month period from the four weeks ending
July 11, 1979, to the four weeks ending October 10, 1979. During
these same periods, the growth rates of MIA and M1B declined 5.6
and 6.2 percentage points, respectively.
This decline in the growth rates of MIA and M1B is reflected
in the declines in the growth rates of their primary components.
For example, the growth rates of the demand deposit component of
MIA during the three-month periods listed below are 5.3 percent,
4.8 percent, and -1.0 percent, respectively. Similarly, the growth
rates of total checkable deposits—the major component of M1B—are
7.2 percent, 5.6 percent, and 0.1 percent, respectively. The slowing
in growth of these deposits reflects, in large part, the effect of a
shift by depositors from demand and other checkable deposits into
relatively higher yielding time deposits.

GROWTH RATES OF MONETARY AGGREGATES
(Seasonally adjusted, compounded annual rates of change)

Period*

Adjusted
monetary base

7/11/79-10/10/79
10/10/79 1'9'SO
1/9/80-4/9/80

10.7%
8.2
7.2

MIA
7.4%
5.1
1.8

M1B
8.7%
5.6
2.5

♦Four-week averages ending these dates.


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

Prepared by Federal Reserve Bank of St. Louis
Released: April 18, 1980

2

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

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
160

BILLIONS
MAR.

56.5
157.5
157.0
157.3

APR.

57.0

1 44

142

I I I I

I I I I
4

FEB

18

2

16 30

13 27

JUN

MAR

11

25

8 22

5

14

19

28

NOV

JUL
1979

LATEST DATA PLOTTED WEEK ENDING: APRIL 16,

12

28

9 23

6 20

5

19

2

16 30

DEC

1980

THE ADJUSTED MONETARY BASE CONSISTS OF: C I » MEMBER BANK RESERVES AT JHE FEDERAL RESERVE
BANKS, (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC: AND N THE VAULTS OF
COMME&CIAL BANKS). AND ( 3 ) AN ADJUSTMENT FOR RESERVE REQUIREMENT RAT 10 CHANGES.
THE
MAJOR SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT
DATA ARE COMPUTED
BY THIS BANK.
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 ENDING:
4/18/79

7/18/79

10. 1
10.0
9.5
9.2
9.4
8.8
9.0
8.6

10.7
9.6
9.0
9.4
8.6
8.9
8.3

9/19/79 10/17/79 11/14/79 12/19/79

1/16/80

2/13/80

7.3
6.1

7.3

TO THE AVERAGE
OF FOUR WEEKS
END 1 NG -.
9/19/79
10/17/79
1 l/M/79
12/19/79
1/16/80
2/13/80
3/19/80
4/16/80


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

8.0
7.6
8.6
7.6
8. 1
7.5

6.6
8.1
7.0
7.8
7.1

9.0
7.3
8.2
7.3

7.4
8.6
7.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ADJUSTED BANK RESERVES v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILL!ONS OF DOLLARS

BILLIONS

of

dollars

BILLIONS
47.9
47.8
48; 5
48.3
48.4

1980
LATEST DATA PLOTTED WEEK ENDING: APRIL 9, 1980
•/ ADJUSTED MONETARY BASE LESS CURRENCY HELD BY THE NONBANK PUBLIC (MEMBER BANK RESERVES AT
FEDERAL RESERVE BANKS ( ♦J CURRENCY HELD BY COMMERCIAL BANKS).

ADJUSTED BANK RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE,

I

4/11/79

7/11/79

8.7
8.2
9. 1
9.4
10.0
7.9
8.3
8. 1

6.3
8.2
9.0
9.8
6.9
7.6
7.3

9/12/79 10/10/79

AVERAGE OF FOUR WEEKS ENDING:

11/7/79 12/12/79

1/9/80

2/6/80

1.2
2.5

8.8

TO THE AVERAGE
OF FOUR WEEKS
END ING:
9/12/79
10/10/79
1 1/ 7/79
12/12/79
1/ 9/80
2/ 6/80
3/12/80
4/ 9/80


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

10.2
10.8
1 1.7
7.1
7.9
7.6

13. 1
13.5
7.4
8.3
7.9

12.9
5.2
6.9
6.7

1.4
5. 1
5.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY STOCK ( Ml A )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF OOLLARS
385

BILUQNS
MAR.

APR.

374.6
376. 4
375.0
374.5
374.4
372.7

I I I I
2

FEB

MAR

16 30

13

27

FEB
MAR
1980

APR

LATEST DATA PLOTTED WEEK ENDING: APRIL 9.

I960

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
MIA CONSISTS OF CURRENCY AND COIN PLUS COMMERCIAL BANK DEMAND DEPOSITS HELD BY THE NONBANK
PUBLIC EXCLUDING THOSE HELD BY FOREIGN BANKS AND OFFICIAL INSTITUTIONS.

r
MONEY STOCK (MIA)
COMPOUNDED ANNUAL RATES OF CHANGE.
4/11/79

7/11/79

9.2
8.6
7.8
7.0
7.4
7.0
7.0
6.0

7.4
6.3
5.4
6.2
5.8
6.0
4.8

9/12/79 10/10/79

AVERAGE OF FOUR WEEKS ENDING

1 1/7/79 12/12/79

1/9/80

2/6/80

5.2
1.8

1.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/12/79
10/10/79
11/ 7/79
12/12/79
1/ 9/80
2/ 6/80
3/12/80
4/ 9/80


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

4.0
3.3
5. 1
4.7
5. 1
3.7

2.5
5. 1
4.6
5. 1
3.5

6. 1
5.2
5.7
3.6

7. 1
7.0
3 9

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

MONEY STOCK ( MlB )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
400 ---------- ,---------- ,--------

BILLIONS OF DOLLARS
------------------------------ 400

BILLIONS
MAR.

391.4
393.3
391.9
391.3
391.5

APR.

7

21

FEB

7

21

MAR

4

18

APR

2

16

30

MAY

13 27

JUN

II

25

JUL

8 22

5

AUG

18

3

SEP

17 3

>1

OCT

14

NOV

28

12

26

9 23

DEC

1979
LATEST DATA PLOTTED WEEK ENDING: APRIL 9.

6 20

5

19

2

IB 30

FEB
MAR
1980

1980

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
Ml8 CONSISTS OF MIA PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITARY INSTITUTIONS.

MONEY STOCK ( MlB )
COMPOUNDED ANNUAL RATES OF CHANGE,
4/11/79

7/11/79

10.9
10.0
9. 1
8. 1
8.5
8. 1
8.0
7.0

8.7
7.3
6.2
7.2
6.6
6.7
5.6

9/12/79 10/10/79

AVERAGE OF FOUR WEEKS ENDING:

11/7/79 12/12/79

1/9/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/12/79
10/10/79
11/ 7/79
12/12/79
1/ 9/80
2/ 6/80
3/12/80
4/ 9/80


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

4.3
3.6
5.6
5.2
5.6
4.3

2.7
5.6
5.1
5.6
4.1

6.8
5.7
6.1
4.2

7.8
7.6
4.8

2.5

2/6/80

2. 1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY
21.0

PERCENT
21 .0

20.0

20.0

19.0

19.0

18.0

18.0
17.0
16.0

15.0

15.0
14.0

13.0

13.0
PRIME BANK
LOAN RATE

12.0

12.0
COMMERCIAL PAPER

11.0

I I .0
90 DAY CD'S

10.0

10.0
CORPORATE AAA BONDS

9.0
8.0
7.0

MUNICI

6.0
0
1979

1980

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: APRIL 18,

1980
FEB.

MAR.

APR.

1
8
15
22
29
7
14
21
28
4
1 1
18 *
25

90 DAY
CD'S
13.36
13.43
13.59
14.93
15.45
16.87
17.71
17.82
17.80
18.07
17.65
16.69

1980

PRIME
COMMERC1AL
PAPER xxx

PRIME
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS MX

13.01
13.01
13. 13
14.21
14.78
16. 17
16.92
17.00
16.93
17.37
17. 19
16.23

13. 1 1
13. 13
13.33
14.65
15. 10
16.59
17.24
17.22
17.29
17.51
17. 12
16. 10

11.49
11.95
12. 19
12.74
12.88
13.00
13.00
12.83
13.00
12.95
12.57
12.07

12.69
13.11
13.41
13.82
14. 16
14.27
14.35
14.45
14.67
14.75
14.56
14.21

7.52
7.71
7.75
8.46
8.72
8.94
9.08
9.20
9.44
9.44
9.07
N.A.

X AVERAGES OF RATES AVAILABLE.
XX BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
XXGK DATA ARE 4-MONTH COMMERCIAL PAPER RATES.
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
20.0

PERCENT
20.0

19.0

18.0

18.0

17.0

16.0

FEDERAL FUNDS RATE
15.0

15.0

14.0

14.0

13.0

12.0

1 1.0

DISCOUNT
RATE

10.0
5-YEAR
TREASURY SECURITIES

9.0

THREE-MONTH TREASURY
BILL MARKET YIELD

6 20

3

17

31

14

8.0

28

12

26

0 23

7

21

I

15 29

14

26

11

25

1979

1980
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: APRIL 18, 1980

1980
FEB.

MAR.

APR.

1
8
15
22
29
7
14
21
28
4
1 1
18 *
25

FEDERAL
FUNDS KX

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL KKX

13.54
12.80
13.64
14.87
14.62
16.17
16.45
16.24
17.78
19.39
19.04
18.35

12.15
12.05
12.36
13.38
13.78
15.37
15.32
14.76
15.55
14.78
14.30
13.67

11.85
11.99
12.26
13.01
13.63
14.79
14.96
14.95
15.70
14.80
14.23
13.55

1-YEAR
TREASURY
BILL
11.23
11.51
1 1 .91
13. 12
13.53
13.94
13.92
13.89
14.39
13.90
13. 1 1
12.09

5-YEAR
TREASURY
SECUR1T1ES
11.15
11.68
11.99
13.22
13.76
13.65
13.22
13.21
13.83
13.29
12.57
11.87

* AVERAGES OF RATES AVAILABLE.
** SEVEN-DAY
AVERAGES
FORINWEEK
WEDNESDAY
TWO HDAYS
EARLIER THAN DATE SHOWN.
SHOWN
CURRENT DATA
APPEAR
THE ENDING
BOARD OF
GOVERNORS'
9 RELEASE
*** NEW ISSUE RATE
RATES ON LONG-TERM TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST
TREASURY BILL YIELDS ON DISCOUNT BASIS.
“
rttatnvt tww. Of 5T.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

LONG-TERM
TREASURY
SECURITIES
11.01
11.51
11.76
12.53
12.49
12.41
12.11
12.06
12.47
12.20
11.61
11.33

8

MULTIPLIERS!/
CURRENCY OF MONEY STOCK MEASURES v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

RATIO

RATIO
MAR.

MONEY MULTIPLIERS

APR.

RATIO
MAR.

APR.
I I I I

1 11 1 I 1 1 1 I 1 1 1 I I 1 I

LATEST DATA PLOTTED WEEK ENDING: APRIL 9,

I I II

I I I I

I960

BILLIONS OF DOLLARS
112 ----------1---------- 1---------- 1------------- 1----------

COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF

-

AP RIL 9, 198C FROM
TH E FOUR WEEK S END If«!

---- FE B.
JA N.
- DE C.
NO V.
- OC
JU L.
- AP R.

6,
9.
12,
7,

1980
198o
197 9
197 9
9
197 9
197 9

1 1 !
1 1 ,

BILLIONS OF DOLLARS

112
-

-

-

7.
9.;
9.J
7.

-

7.e

9.:
9.

-

-

-

-

1980
MAR.

rm
1 1 1
7

21

FEB

7

21

MAR

1 1 1

1 1 1 1

4

2

18

APR

16 30

MAY

1 1 1
13 27

JUN

1 1 1
11

1 1 1 1
25

JUL
1979

1 1 1

8 22

AUG

LATEST DATA PLOTTED WEEK ENDING: APRIL 9.

1 1 1 1
3

SEP

17

OCT

1 1 1
31

14 28

NOV

1 1 1

108. 7
108. 7
_
109.
108.
APR.
109.
108.
J-U.ll.ll 1.11.11 ..Li 11;

12 26

DEC

BIU.I 5N5

5
12
i§
26
2
9

O 23

6 20

IAN

FEB
MAR
1980

5

10

2

16 30

APR

1980

1/ RATIO OF MONEY STOCK (MIA) OR (MIB) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

DEMAND DEPOSIT COMPONENT OF MONEY STOCK (MIA)
AVERAGES OF DAILY FIGURES
btAbUNALLY ADJUSTED

BILLIONS OF DOLLARS
285 ,---------- .---------- ,-------- -

BILLIONS OF DOLLARS
------------------------------ 285

BILLIONS
265.9
267.7
265.9
265.6
265.5
263.9

APR,

7

21

FEB

*

21

MAR

4

>8

APR

2

16 30

MAY

13

?7

JUN

II

25 8 22

JUL

5

AUG

|(

I*

SEP

NOV

28

12

26

0

DEC

LATEST DATA PLOTTED WEEK ENDING: APRIL 9,

23

FEB
MAR
1980

1979
1980

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

DEMAND DEPOSIT COMPONENT OF MONEY STOCK (MIA)
COMPOUNDED ANNUAL RATES OF CHANGE,
4/11/79

7/11/79

8.6
7.6
6.8
6. 1
6. 7
6.0
6 0
4.7

5.3
4.4
3.9
5. 1
4.4
4.6
3.0

9/12/79 10/10/79

AVERAGE OF FOUR WEEKS ENDING:

11/7/79 12/12/79

1/9/80

2/6/80

TO THE AVERAGE
OF FOUR WEEKS
END 1NG:
9/12/79
10/10/79
11/ 7/79
12/12/79
1/ 9/80
2/ 6/80
3/12/80
4/ 9/80


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

2.0
2.0
4.3
3.4
3.8
1 .9

1 .8
4.8
3.7
4. 1
1.8

6.3
4.3
4.7
1.9

5.8
5.7
1.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

SAV NGS PLUS SMALL T ME DEPOS TS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
450 ---------- ----------- ,--------

BILLIONS OF DOLLARS
—---------- ----------- n 450

BILLIONS
MAR.

440.6
441.4
441.5

APR.

443.7

4 28

NOV

12

26

0 23

6 20

5

19

DEC
1980

LATEST DATA PLOTTED WEEK ENDING: APRIL 9, 1980
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN *100,000.

SAVINGS PLUS SMALL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS END 1NG
4/11/79

7/11/79

1 1.8
10.6
10.0
9.9
9.4
9.3
9. 1
9.0

8.9
8. 1
8.4
7.9
8.0
7.9
7.9

9/12/79 10/10/79

11/7/79 12/12/79

1/9/80

2/6/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/12/79
10/10/79
11/ 7/79
12/12/79
1/ 9/80
2/ 6/80
3/12/80
4/ 9/80


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

5.0
6.6
6.4
6.8
6.9
7.0

7.7
7.0
7.4
7.3
7.4

7.6
8.0
7.7
7.8

7.1
7. 1
7.3

7.8
7.8

7.5

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
1980

dollars

MILLIONS

MAR.

12
19
26
APR.
2
9
16

3439
3001
2660
2262
2386
2276

4

FEB

billions of

MAR

18

2

18 30

APR

13 27

JUN

II

25

8 22

5

19

3

17

31

JUL
1979

14

28

NOV

LATEST DATA PLOTTED WEEK ENDING: APRIL 16,

12 26

9 23

DEC

6 20

3

FEB

MAR

19

2

16 30

1980

BUSINESS LOANS
(COMMERCIAL AND
BILLIONS OF DOLLARS
164
162
160
158
156
154
152

INDUSTRIAL)

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

_ COMPOUNDED ANNUAL RA TES
OF CHANGE, AVERAGE 0F
_ THE FOUR *EEKS END ING
“APRIL 9, 1980 FROM
- THE FOUR WEEKS END ING:
TfEB. 6, 1980
10.5
— JAN. 9, 1980
_ DEC. 12, 1979
__ NOV. 7, 1979
OCT. 10, 1979
JUL. II, 1979
_ APP .11, 1979

BILLIONS OF DOLLARS
164
162

f\

A -

/

(S

13.5
18.3
12.7
9.8
14.9
17.0

-

(

-

150
148
146
144
142
140
138
136

-

-

-

-

-

-

-

-

-

198(

-

5
12
19
26
APR. 2
9

134
132
0

-

!lll .1.1,1. XLL INI _LLL
7

21

FEB

7

21

MAR

MILLIONS

MAR.

/

-/

4

18

APR

2

16

MAY

30

1 1 1

13 27

JUN

II

1 1.1 1, J_LL J 1.1 1

25 8 22

JUL
AUG
1979

LATEST DATA PLOTTED WEEK ENDING: APRIL 9,


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

5

19

SEP

3

17 31

OCT

ill
14

NOV

l 1 l
28

12 26

DEC

Mil

160,284
160,805
161,004
160,058
161,535
160,685

-

111111 ii 1111:
6 20

5

19

FEB
MAR
1980

2

16 30

APR

1980
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

160
158
156
154
152
150
148
146
144
142
140

132
0

12
LARGE TIME DEPOSITS

ALL COMMERCIAL BANKS
BILLIONS OF DOLLARS

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
200

BILLIONS
_

198

MAR.
196
194
192
190
188
186

FEB

LATEST DATA PLOTTED WEEK ENDINGs APRIL 9,

MAR

1980

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF $100,000 OR MORE.


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