Full text of U.S. Financial Data : Week Ending: April 18, 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 18, 1979
The adjusted monetary base, as computed by this Bank,
into account the effects of changes in legal reserve
ratios. When reserve requirement ratios are raised, a
Egivfti amount of reserves can support a smaller volume of deposits.
Hence, the reserve adjustment magnitude (RAM) decreases.
Over
short
periods of time, especially at times
when
reserve
requirement ratios are changed, changes in RAM can be a large
component of the changes in the adjusted monetary base.
As shown
in the table below; RAM declined $2.5 billion between October and
December 1978. This period includes the establishment of the
supplementary 2 percent reserve requirement on large-denomination
time deposits at member banks.
During periods when legal reserve requirement ratios are
unchanged, however, changes in RAM are a small component of the
changes in the adjusted monetary base. In the seven-month period
prior to the November 1978 reserve requirement change, the
adjusted monetary base increased $8.7 billion, only $325 million
of which was attributable to a change in RAM. In the three months
since the change in reserve requirements, RAM has had essentially
no effect on the change in the adjusted base. The change in the
adjusted base in both of these periods was dominated by a change
in Federal Reserve holdings of U.S. Government securities.
Changes in Factors Influencing
the Adjusted Monetary Base
(Not Seasonally Adjusted, Millions of Dollars)
March 1978
to
October 1978
Federal Reserve Credit
U.S. Government
Securities
Loans
Float plus other
Federal Reserve
Assets

$18,425
15,541

Other Factors
Treasury Deposits
with Federal
Reserve
Other Items*

-10,024
-10,243

Source Base
RAM
Adjusted Monetary Base

917
1,967

219
8,401
325
8,726

October 1978
to
December 1978
$-3,943
-6,099
-

December 1978
to
March 1979
$-3,083
-4,450
124
1,243

387
2,543

10,923
11,017

-

685
811

-

-

126

94

6,980
-2,504
4,476

-2,398
1
-2,397

*Includes gold stock, SDRs held by Federal Reserve Banks, Treasury
currency outstanding, Treasury cash holdings, and other Federal
Reserve liabilities and capital accounts.


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

Prepared by Federal Reserve Bank of St. Louis
Released: April 20, 1979

2
ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

1 46

BILLIONS OF DOLLARS
M8

! 46

MAR.

144.2
144.3
145.5

___ APR.

144

142

140

138

136

134

132

130

I I I I
I

13

1

13 29

12

26

10

24

T 21

5

JUN

JUL

19

2

16 30

IS 27

SEP

LATEST DATA PLOTTED WEEK ENDINGs APRIL 18.

n

25

8 22

6 20

3

17

31

14

2B

14

28

11

25

OCT

1979

THE ADJUSTED MONETARY BASE CONSISTS OFi ( 1 ) MEMBER BANK RESERVES AT THE FEDERAL RESERVE
BANKS, (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF
COMMERCIAL BANKS), AND (3) AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES.
THE
MAJOR SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT.
DATA ARE COMMUTED
BY THIS BANK.
A DETAILED DESCRIPTION OF THE ADJUSTED MOtETARY BASE IS AVAILABLE FROM
THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
4/19/78

7/19/78

9.6
10.4
10. 1
9.5
9.3
8.9
8.5
8.2

10.3
9.7
8.8
8.6
8.2
7.7
7.4

AVERAGE OF FOUR WEEKS ENDING!

9/20/78 10/18/78 11/15/78 12/20/78

1/17/79

2/21/79

5.0
4.8

4. 1

TO THE AVERAGE
OF FOUR WEEKS
ENDINGi
9/20/78
10/18/78
11/15/78
12/20/78
1/17/79
2/21/79
3/21/79
4/18/79


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

11.3
9.2
8.8
8.2
7.5
7. 1

6.8
7.0
6.7
6.2
5.9

6.7
6.5
5.8
5.6

6.7
5.8
5.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MULTIPLIERS
ADJUSTED FEDERAL RESERVE CREDIT*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
2. 9

RATIO
2.9

MULT IP LIER

1B2.a
MAR.

APR.

“I 1 1 ■ 1111

21
28
4

11
111 Jill. 111 -LI. 1

jj

11 -11 1

1 1 1 -11J 1

1 1 1

ILL IONS OF DOLLARS
----------------- ----------- 128

COMPOUNDED ANNUAL RATES
-----OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
“ APRIL 18, 1979 FROM
-----THE FOUR WEEKS END INGi
FEB. 21, 1979
JAN. 17, 1979
— DEC. 20, 1978
_
NOV. 15, 1978
OCT. 18, 1978
-----JUL.
19, 1978
_
APR. 19, 1978

ADJUSTED FEDERAL RESERVE CREDIT

3.2
4.9
6.6
7.1
7.8
8.9
9.5

iai9.
MAR.
APR.

1 15
FEB

2.498
2.495
2.496
2.495
2.495
2.506

Mill -LLliJ-Mllll*

BILLIONS OF DOLLARS
128 r--------- ,------------- ,------

-

RATIO

7
14

I 13 29 12 26 10 24
MAR
APR
MAY

7 21
JUN

5 19
JUL

2 16 30 13 27 11 25
AUG
SEP
OCT

1978
LATEST DATA PLOTTED WEEK ENDING: APRIL 18,

8 22

6 20

14

amtPNs
124.9
25.3
24.9

U 1 I I I I I I I I I UI I
3 17 31

14 28 14 28 11 25
FEB
MAR

1979

1/ RATIO OF MONEY STOCK ( Ml ) / ADJUSTED MONETARY BASE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUTS

3

si non ‘is do

xnvb

BAaasaa “ivascrad

2* l
9*0

i* i

9‘Z

0*9

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6*2
0*2
1*1
8*2

aaavasaa

9*9
9'2
9'2
9*9
9>

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8*9
o*v
9*9
9*9
2*8

6*9
8*9
l *9

\r’i
9*8

6*6
V* l l


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
6*9
6*9
9*1
9*8
l *6
O’Ol
1*01
9 ‘01

61/1l/V
61/M/C
61/*l/Z
61/01/1
81/Cl/Zl
81/8 /ll
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81/C 1/6
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62/H/Z

62/01/1

82/Sl/Zl 82/8/ll

82/U/Ol B2/SI/6

82/ZI/2

82/Zl/k

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f

MONEY STOCK (Ml )
AVtrtAbtS Of- DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
370 ---------- r—--------- r—

BILLIONS OF DOLLARS
-------- ---------------------- 370

SILLIONS
__ MAR.

360.2
358.8
358.8
359.8
361.6

1

13

FEB

1

13 29 12 26 10 24

MAR

APR

MAY

7 21

3 10

2

JUN

JUL

AUG

i-l I 1 I 1 I

16
3

SEP

17 31

M 28 14 28 11

23

OCT

1978

1979

LATEST DATA PLOTTED WEEK ENDING: APRIL 11, 1979
CURRENT DAT* APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
THE MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AND COIN MELD BY THE NONBANK PUBLIC.

MONEY STOCK (Mi )
COMPOUNDED ANNUAL RATES OF CHANGE
.
4/12/78

7/1Z/7B

9/13/78 10/11/78

AVERAGE OF FOUR WEEKS ENDING:
1/8/78 12/13/78

1/10/79

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

9.9
10. 1
8.5
7.0
6.5
4.9
4.3
4.4


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

9.5
6.8
4.9
4.4
2.5
2.0
2.4

4.8
2.4
2.2
0. 1
-0.2
0.6

-1 . 4
-0. 4
-2.3
-2.2
-1.0

-2.5

32

-0.9

-0.8

-L5

2/14/79

2.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
12.5

PRIME BANK
LOAN RATE

12.0
1 1.5

90 DAY CD’S***

1 1 .0

1 1 .0
10.5

10.0

10.0

9.5

9.0

CORPORATE Aaa BONDS

8.5

8.0
COMMERCIAL PAPER
7.5

7.0

6.5

6.0
5.5

0
1978

1979

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

1979
FE5.

MAR.

APR.

2
9
16
23
2
9
16
23
30
6
13
20 ** ***
27

90 DAY
CD'S xxx
10.20
10. 13
10.17
10.16
10.26
10. M
10. 16
10.20
10.09
9.99
10.09
10.27

PRIME
COMMERC1AL
PAPER
4-6 MONTH
10.07
9.99
1 0.02
1 0.03
10.03
10.01
10.03
9.95
9.81
9.85
10.05
10.08

APRIL 20,

1979

j

PRIME
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

MUNICIPAL
BONOS XX

9.92
10.03
9.96
10.06
10.03
9.97
10.00
9.97
9.82
9.90
10.05
9.98

9. 19
9.23
9.25
9.28
9.36
9.35
9.38
9.38
9.35
9.31
9.37
9.39

6.22
6.31
6.33
6.38
6.42
6.35
6.30
6.29
6.28
6.25
6.33
N. A.

,

* AVERAGES OF RATES AVAILABLE.
it* BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
*** SEVEN-DAY AVERAGES OF SECONDARY MARKET RATES FOR THE WEEK ENDING WEDNESDAY TWO DAYS
EARLIER THAN DATES SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 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
11.0

10 5
FEDERAL FUNDS RATE
10.0

DISCOUNT RATE

3-5 YEAR
TREASURY SECURITIES

THREE-MONTH TREASURY
BILL MARKET YIELD

3

17

3

17

31

14 28

12

26

8 23

7

21

JAN

FEB

1978
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt APRIL 20,

1979
FEB.

MAR.

APR.

1979

FEDERAL
FUNDS 1(9*

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL *e*9K

1-YEAR
TREASURY
BILL

3-5 YEAR
TREASURY
SECUR1T1ES

LONG-TERM
TREASURY
SECUR1T1ES

10.12
10.06
10.15
9.97
10.06
10.07
10.21
10.09
10.00
9.95
y. 93
9.96

9.28
9.24
9.28
9.41
9.44
9.44
9.51
9. 54
9.46
9.53
9.70
9.48

9.38
9.31
9.34
9.37
9.50
9.42
9.46
9.48
9. 44
9.50
9.57
9.63

9.31
9.34
9.35
9.49
9.50
9.40
9.43
9.37
9.29
9.26
9.37
9.24

9.02
9.07
9.16
9. 25
9.32
9.24
9.24
9.24
9.23
9. 24
9. 34
9.32

8.81
8.90
8.96
9.00
9.03
8.98
8.99
8.99
8.97
8.97
9.02
9.03

2
9
16
23
2
9
16
23
30
6
13
20 *
27

* AVERAGES OF RATES AVAILABLE.
** SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN
^2R^cIiicAIatcFPEAR IN THE B0ARD 0F GOVERNORS’ H.9 RELEASE.
'
*** NEW ISoUE RATE


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

C0W,UTED BY THE FEDERAL RESERVE 8ANK 0F ST-L0UISPREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

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

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
530
525

520.3
520.0
521.9
523.3
525.2

520
515
510
505
500
495
490
485
480
475
470
I I I I

I I I I
1

13

1

13 29

12

26

10 24

7

21

3

19

2

16 30

13 27

II

23

8 22

6 20

3

17

31

14

FEB

28

14 28

MAR

11

23

APR

1978
LATEST DATA PLOTTED WEEK ENDING: APRIL 11. 1979
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
* 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 DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
4/12/78

7/12/78

1 1.2
11.2
11.1
10.6
9.6
9.0
8.8
8.7

12.9
12.2
11.2
9.6
8.8
8.5
8.5

9/13/78 10/11/78

AVERAGE OF FOUR WEEKS ENDING:

11/8/78 12/13/78

1/10/79

2/14/79

5.4
6.2

7.3

TD THE AVERAGE
OF FOUR WEEKS
ENDINGi
9/13/7B
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

10.7
9.6
7.5
6.9
6.8
7.0

8.9
6.5
5.9
6.0
6.3

4.8
4.7
5.1
5.6

3.1
4.1
5.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
billions

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

OF DOLLARS

billions of dollars

SILL .IONS
260.7
259.7
259.2
259.8
261.8

APR.

1

15

11.1 I
I

11.11

15 29 12 26 10 24

7 21

5 19

2 16 30 15 27 11

25

8 22

6 20

1978

1979

LATEST DATA PLOTTED WEEK ENDING: APRIL 11,

1979

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

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
COMPOUNDED ANNUAL RATES OF CHANGE .
4/12/78

7/12/78

10.0
10.2
8.0
6.0
5.3
3.0
2.3
2.6

8.7
5.2
2.8
2.2
-0.4
-0.9
-0.3

9/13/78 10/11/78

AVERAGE OF FOUR WEEKS ENDING:

11/8/78 12/13/78

1/10/79

2/14/79

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
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

2.7
-0.3
-0.5
-3.5
-3.7
-2.5

-5.1
-3.8
-6.5
-6.2
-4.5

-3.2
-6.8
-6.4
-4.4

-7.8
-6.9
-4.2

-9.5
-5.2

0.0

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
IOZ

BILLIONS
99.5
99.4
99.6

100.0

APR

99.8

l

13 29

12

26

10 24

7 21

3

10

2

16 30

13 27

11

23

1978
LATEST DATA PLOTTED WEEK ENDING: APRIL 11, 1979
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.

CURRENCY
COMPOUNDED ANNUAL RATES OF CHANGE ,
4/12/78

7/12/78

9.6
10. 1
9.9
10.0
9.9
9.9
9.7
9.6

11.7
10.9
10.7
10.6
10.5
10. 1
9.9

9/13/78 10/11/78

AVERAGE OF FOUR WEEKS END 1NGi

11/8/78 12/13/78

1/10/79

2/14/79

8.6
8.4

7.5

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

10.8
10.5
10.4
10.3
9.7
9.5

9. 4
9.5
9.7
9. 1
9.0

10.0
10.0
9.3
9.1

9.9
8.9
8.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

BILLIONS OF DOLLARS
3 5 r---------1------------- 1----1979

I

15

BiLLiOh

DOLLARS
3.5

MILLIONS

27 11 23

1 13 29 12

« 22

6 20

I I 1 I
3 17 31

1978
LATEST DATA PLOTTED WEEK ENOING. APRIL 1

14 28 14 28 11 25
FEB
MAR
1979

1979

BUSINESS LOANS
( COMMERCIAL AND

BILLIONS OF DOLLARS
144

HZ
MO

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
144

" COMPOUNDED ANNUAL RA [ES
— OF CHANGE, AVERAGE 0
_ THE FOUR WEEKS END 1 N< 5m
DECEMBER 27, 1978 FR
“ THE FOUR WEEKS END 1 N<
I. OCT. 25,
1978
4.7

138

SEP.
- AUG.
136 1—JUL.
_ JUN.
MAR.
134

27,
30,
26,
28,
29,

1978
1978
1978
1978
1978

142
140
138

7.9
7.7
7.7
6.8
11.9

136
-

NO NEW DATA AVAILSUiLE

132

132
-

-

-

-

-

-

-

-

130

130
128

128
126

126

124

iSL5

122

HlimtB

124

122

22
139,837
----29
139,735
6
139,776
----13
139,166
20
139,358
I 18
27
139,471
(
11111111111111

-

120

120

1 18
0

134

m .mi
1111
2 16 SO 14 28 II 23 8 22 8 22
NOV
DEC
JAN
FEB
MAR
1977

J.I..I

ui. iiii
111 -I..I I. ■ Ul 1 -l-LL -ui3 1W 3 17 31 14 28 12 26 9 23
6 20 4 18 I 13 29 13 27 10 24
APR
MAY
JUN
JUL
AUG
SEP
OCT
NOV
OEC
JAN
1978
1979

LATEST DATA PLOTTED WEEK ENDING. DECEMBER 27,


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

1978
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

0

T3 -n
‘
m

n

12

m
H

po
rr, m

C

2>

Z
TJ
o
(/)
H

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
BILLIONS OF DOLLARS

WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

>

O
IONS OF DOLLARS

m
O

104

C

10Z
100
98

>

3

CO
£ j

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CO
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cn
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c
5
05

33

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1978
LATEST DATA PLOTTED '•EEK ENDINQ. APRIL H,

1979

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


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