Full text of U.S. Financial Data : Week Ending: April 23, 1969
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RESEARCH LIBRARY FinnncinL DflTfl_ _ _ of St. Louis 'MiG 2 7 1998 Week ending: April 23 1969 An increase in the percentage of demand deposits which members of the Federal Reserve System are required to hold as reserves became effective in the reserve computation periodv ending April 23. Reserves required in this period are based on average deposits in the week ending two weeks earlier—April 9. With the one-half percentage point increase, reserve requirements on demand deposits over $5 million are now 17-1/2 per cent at reserve city banks and 13 per cent at country banks. The monetary base has changed little on balance since the first of the year, compared with about a 7 per cent annual rate of growth in the last half of 1968 (page 2). The increase in reserve requirements has lowered the reserve ad justment magnitude added to the base by about $660 million.1/ Growth of the money stock has also slowed in recent months. The money stock averaged $196.4 billion in the week ending April 16 (page 3). The jump of nearly $3 billion, which occurred in the week ending April 9, was largely due to an unusual decline of about $4 billion in cash items in process of collection. These items are sub tracted from gross demand deposits; consequently —For a description of the reserve adjustment, see !'The Monetary Base—Explanation and Analytical Use,l: in the August 1968 issue of this bank's Review. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis net demand deposits, the principal component of the money stock, increased sharply. In the last three months, money has risen at a 4.5 per cent annual rate, and in the previous six months money rose at a 5 per cent rate. By comparison, money rose at a 7 per cent rate from January 1967 to July 1968 and at an average 2.4 per cent rate from 1957 to 1966. In the last few weeks market interest rates on long-term securities have declined while yields on most short-term securities have risen somewhat (pages 8 and 9). Tax payment dates probably increased the demand for short-term funds during this time. Yields on" long-term Government bonds averaged 5.76 per cent during the three days ending April 23, compared with a high of 6.11 per cent in mid-March. Rates on highest grade corporate bonds have also declined slightly from about 7 per cent in late March to 6.81 per cent in the first half of this week. Yields on three-month Treasury bills averaged 6.15 per cent during the three days ending April 23 compared with about 6 per cent in mid-March, and yields on 4- to 6-month commer cial paper have continued upward, averaging 7.13 per cent in the first half of this week. Rates of change reported in this release are intended to serve as summaries which may be useful in analyzing recent developments. Prepared by Federal Reserve Bank of St. Louis Released: April 25,1969 MONETARY BASE LL FEDERAL RESERVE CREDITL2 Averages of Daily Figures Billions of Dollars Billions of Dollars Seasonally adjusted by this bank. Annual rates of change, average of four weeks ending April 23, 1969 from four weeks ending: Monetary Base Jan. Oct. July Apr. 22, 23, 24, 24, F.R. Credit 1969 1968 1968 1968 77. Monetary Base - 1957-1968 Monetary Base Federal Reserve Credit 1/ 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. 2/ Defined to include holdings of securities, ___ loans, and float, adjusted for reserve ___ requirement changes and changes in requirements ----due to shifts in deposits among classes of ----banks. 1— Latest data preliminary Latest data plotted week ending: 10 24 J an. 7 21 Feb. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 20 3 17 1 15 29 May April 23, 1969 12 26 10 24 July June 1968 7 21 Aug. 4 18 Sept. 2 16 30 13 27 11 25 8 22 5 19 5 19 r. 2 ,16 30 Apr. 1969 14 28 11 25 May June Prepared by Federal Reserve Bank of St. Louis 9 23 July MON^STOCK* Averages oTDaily Figures SeasonallyAd u sted Billions of Dollars Billions of Dollars Annual rates of change, average of jfour weeks ending April 16, 1969 ■jfrom four weeks ending: pan. JOct. 15, 1969 16, 1968 -July 17, 1968 Apr. 17, 1968 +V. j 5 f- V-9 1957-1968 Weekly Data data appear in the June 1968 Federal Reserve Bulletin. For trend of money stock by months see this bank's monthly release entitled "Monetary Trends". _ Latest data preliminary _ Latest data plotted week ending: April 16, 1969 10 24 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 6 20 3 17 . Apr. 1 15 29 12 26 10 24 May June July 1968 7 21 Aug. 418 2 Sept. 16 30 Oct. 13 27 Nov. 11 25 Dec. 8 22 Jan. 5 19 5 19 Mar. 2 16 30 14 1969 Prepared by Federal Reserve Bank of St. Louis 28 11 25 June 9 23 Llioi MONEY STOCK PLUS TIME DEPOSITS* Averages of Daily Figures Seasonally Adjusted of Dollars 420 Billions of 418 416 414 Annual rates of change, average of four weeks ending April 16, 1969 from four weeks ending: 4i2 Jan. 15, 1969 Oct. 16, 1968 410 July 17, 1968 Apr. 17, 1968 -O. S 408 1957-1968 406 404 402 400 398 397-3 396 394 392 390 388 386 384 382 380 378 376 374 372 370 368 366 ----------- ill 364 362 360 'O Latest data preliminary . . Latest data plotted week ending: April 16, 1969 10 24 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7 21 6 20 17 pr. 1 15 29 12 26 May June 10 24 July 1968 J——|. 14 t-1 c— 1 1 1 1 1 1 1 1 1 * Current data appear in the Board's H.6 release. Back ;-----data appear in the June 1968 Federal Reserve Bulletin. For trend of money stock plus time deposits by months ' see this bank's monthly release entitled "Monetary Trends". 1 I 1- 1 I 1 1 1 1 I I I I I I 1 I I I j 1 I I I I [ I 1 I I L t t I I I 1 I ! i~V 7 21 Aug. 4 18 Sept. 2 M 16 30 13 27 11 25 tet. Nov. Dec. 8 22 Jan. 5 19 Feb. 5 19 Mar. 2 16 30 14 1969 Prepared by Federal Reserve Bank of St. Louis 28 11 25 June 9 23 BUSINra LOANS Large Corr^Rrcial Banks Wednesday Figures Billions of Dollars Billions of FfflTO 84 Annual rates of change, average of four weeks ending April 16, 1969 from four weeks ending: Jan. 15, 1969 7*-/=?.£ Oct. 16, 1968 July 17, 1968 Apr. 17, 1968 Dollars Seasonally ad jus ted by this bank y- 82 73. 7 y- /o?.£ 80 78 76 74 1969 cx&A- 3 MILLIONS OF DOLLARS SEASONALLY UNADJUSTED ADJUSTED 73,78% 73, 7-3, Mi 73, 93 g 78,377 73, S/6 73,770 73 8 7 h 73, 7 3SY3 7Y,S3>0 73'0 76 73;*? 7 7V,Zf2- 7-3 33 7 76,SSI P 7JT/J 7 73,36-7 73,393 7 3,7-37 /71a*s ^ T' 72 7 3, S-3S- 77, 70 7 f, sye> 7 7,^9 7 TsyoS 7 ¥,83 7 17.877 Kro'f 68 66 7^7/4 P 64 62 Latest data preliminary Latest data plotted: April 16, 1969 10 24 Jan. 7 21 Feb. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 Mar. 15 29 May 12 26 10 June 1968 24 July 16 Oct. 30 13 27 Nov. Current and year ago unadjusted data appear in the Board's H.4.2 release. Seasonal adjustment computed by this bank using 1963 through 1968 data i_i__i__i__i__i—i__i__i__l 11 25 8 22 5 19 5 19 2 16 30 14 28 11 25 9 23 Dec. Jan. Feb. Apr. May June July Mar. 1969 Prepared by Federal Reserve Bank of St. Louis :o 6 CERTIFICATES OF DEPOSIT H Large Commercial Banks Wednesday Figures Billions of Dollars Billions of Doll _Annual rates of change, data not seasonally — adjusted, average of four weeks ending April 16,-----— 1969 from four weeks ending: -----I Jan. 15, 1969 Millions of Dollars 1969 <W/ 0 y _ Oct. 16, 1968 — July 17, 1968 — Apr. 17, 1968 at la.XJO cRtj, 37 y <54 7<r7 <a/, vJ-w" ai, 03 / ao, io3 - 1964-1968 a 6/a 4 'S' /?9£f S93L. 'iJKT /? /*- O #• O' 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. Latest data preliminary Latest data plotted: 10 24 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 20 3 17 1 15 29 12 June 26 10 24 7 21 4 18 2 16 30 13 27 11 25 8 19 5 19 2 16 30 14 Sept. 28 11 25 June Prepared by Federal Reserve Bank of St. Louis 9 23 SITS* TIME D All Commercial Banks Averages of Daily Figures Seasona 11y Ad us ted Billions of Dollars Billions of Dollars ____ Annual rates of change, average of four weeks ------ ending April 16, 1969 from four weeks ending: -Jan. 15, 1969 " ~ ____ Oct. 16, 1968 ____ July 17, 1968 ------ Apr. 17, 1968 + 7. V 1957-1968 / 3o V* / /f AO 3.3 Ae*.2 3 A. af Acts ' £ tfjr- Ao#,/ at*/. * /A- AO/.* /f AO /. * A60/] 306.7 />• Aoo.J j.oo.t A<> 2.°o.1 12L. z ao/./ ^ 9 aot. >9 | * ----- Latest data preliminary -----Latest data plotttd week ending: 10 24 Jan. 7 21 Feb. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 20 Mar. 3 17 Apr. 1 April 16, 1969 15 29 May 12 26 10 24 June July 1968 7 4 Aug. 18 2 Sept. /tALoa.l f Current data appear In the Board's H.6 release. Back data appear In the June 1968 Federal Reserve Bulletin. For trend of time deposits by months see this bank's monthly release entitled "Monetary Trends". 16 30 13 27 11 25 Oct. Nov. Dec. 8 22 Jan. 5 19 Feb. 19 Mar. 2 16 30 Apr. 1969 14 28 11 25 May June Prepared by Federal Reserve Bank of St. Louis 9 23 July t YIELDS ON SELECTED SECURITIES Averages of Daily#Rates Ended Friday Per Cent 9.50 Per Cent P ri!iiury 9.00 Long-Term 3-5 Year c.og C..O? (U.i ? )ha^ 7 6.3*7 fc.9? i,. 3.(0 S.13 b . /o 5- 7b Prime Commercial Loan Rate Corporate Aaa Bonds 6.00 Three-Month Treasury Bill Market Yield Discount Rate Long-Term Government Bonds Latest data plotted are averages of rates available for the week ending: April 25 12 26 Jan. 9 3 23 Feb. .•lar. *av1BIes OF RATES AVAILABLE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 17 31 14 28 12 June 26 July 9 23 Aug. 6 20 Sept. 4 18 Oct. 1 15 29 Nov. 1969 13 27 10 24 Dec. Jan. 16 Mar. 1968 Prepared by Federal Reserve Bank of St. Louis 30 13 June SELECTED SHOR\ Averages of Da :RM fNTEREST RATES Rates Ended Friday Prime 90 Day CD'S At 9.00 9.00 1969 3UX- 7 'Y 8.50 a K. 7 (.■lo (■J9 (.(.3 (■SO (. (,4 u? (■(S (.70 (.(3 (. (5 (.(S' (■(S (■7S 'Y (,■88 6-88 1/ (Xp+s r (.38 (,■3 9 (.74 (. 74 it 8.00 (..So ( ,So 7.03 7/3 7.50 (■SO (.(S' 1.15 (.88 i. o o ii y*’ 6 +f (. ?r ( </J C..Y? i ( 9 C ->£> C.tf (.SO (. 7S T9 C..T5 8.00 (■78 (■ to k.!»S t.7-< 8.50 7 .Z8 nns 7.oo 7.oo 7.50 7.00 7.00 Commercial Paper 4-to-6 Month 6.50 6.50 3^ 6.00 Bankers Acceptances 6.00 Federal Funds Rate 5.50 5.50 Discount Rate 5.00 5.00 .4.50 4.50 4.00 4.00 Latest data plotted are averages of rates available for the week ending: April 25, 1969 3.50 I I 1 I M I I I 1 I I I 1 I I M I 1 1 I I I M I I I I I 1 i I 1 I I 1 I 1 I 1.............Ill 12 26 Jan. 9 23 Feb. 8 22 Mar. 5 19 Apr. 3 17 31 14 28 12 26 May June July 1968 * AVERAGES OF RATES AVAILABLE ** SOURCE: SALOMON BROTHERS AND HUTZIER SECONDARY MARKET RATE ON 90-DAY PRIME CD'S http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9 23 Aug. 6 20 4 18 1 Sept. Oct. 15 29 Nov. 13 27 Dec. 10 24 Jan. 7 21 Feb. 7 21 Mar. 16 30 May ’ Prepared by Federal Reserve Bank of St. Louis 13 27 June 11 25 July ions BORROWINGS AND EXCESS RESERVES All Member Banks in the Nation Averages of Daily Figures liars 000 Millions of FREE 900 800 1969 ' 700 ,600 ,500 .400 ,300 Cci- 2 JS •.r /* /? cJ6 ow-r' 992 7^ -yjti —vT2>? ??/ 7f¥ 799 /CY? IS 7 7-7? 776 765 ,200 ■y/9 ^78 - jTJTJ OS7 - hV -719 - Borrowings 938 'Ifl ,100 ,000 //3V 900 - 997 BIWEEKLY SETTIEMENT iERIODS WEEKLY RESERVE PERIODS 800 700 600 500 400 300 200 * 100 0 100 200 300 400 500 Net Free Reserves 600 700 800 900 .,000 .,100 1/ Because of the change in Regulation D placing all member banks on a one-week reserve adjustment period, beginning with the week ending September 18, 1968 the test data preliminary above reserve data are reported.on a test data plotted week ending: April 23 one-week period. I 1 1 1 1 1 i 1 1 1 1 1 1 1 i 1 1 1 1 1 1 i -J 8 22 5 19 15 29 12 26 10 24 7 21 4 18 2 16 r 30 13 27 11 25 24 7 21 6 20 Jan. Feb. Oct. Nov. Dec. May June July Aug. Sept. a. Feb. Mar. 1968 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 16 30 Apr. 14 28 May 1969 Prepared by Federal Reserve Bank of St. Louis 11 25 June DEMAND DEPOSIT COMH» ENT O F MONEY STOCK* Averages o^uaily Figures Seasonally Adjusted ▼ Billions of Billions of Dollars Annual rates of change, average of four weeks ending April 16, 1969 ------ from four weeks ending: ~UJan. 15, 1969 -+3-S July 17, 1968 + 4■ $ ——Apr. 1957-1968 * Current data appear In the Board's H.6 release. Back data appear in the June 1968 Federal Reserve Bulletin For trend of demand deposits by months see this bank1! monthly release entitled "Monetary Trends". Latest data preliminary _ Latest data plotted week ending: April 16, 1969 10 24 7 21 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 20 . 3 17 Apr. 1 15 29 12 26 10 24 May June July 1968 7 21 Aug. 4 18 Sept. 2 16 Oct. 30 13 27 Nov. 11 25 Dec. 8 22 Jan. 5 19 Feb. 5 19 Mar. T- 16 Apr. 1969 30 14 28 May Prepared by Federal Reserve Bank of St. Louis 11 25 June 9 23 July 136 12 TOTAL CREDIT Large Commercial Banks Wednesday Figures Billions of Dollars 230 225 Billions of Doll 230 Seasonally adjusted by this bank. ____ Annual rates of change, average of ____ four weeks ending April 16, 1969 ------ from four weeks ending: ------Jan. 15, 1969 - l.'i ------Oct. 16, 1968 4-J.i'July 17, 1968 +/0.“f Apr. 17, 1968 225 1960-1968 220 215 Millions of Dollars UNADJUSTED SEASONALLY ADJUSTED ' 333.. 3 LI aao,<?70 AA/.9 7? 210 33 >. S3! 31 9, elfL J./9. ISO iao,7Vfc 3l°l, 9S3 33 D.JJo 330. 205 — 3 a S,433 P 200 Latest data preliminary Latest data plotted: April 16, 1969 0 10 24 Jan. 7 21 Feb. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6 20 Mar. 3 17 Apr. 1 15 29 May 12 26 10 24 June July 1968 16 30 Aug. Sept. 13 27 205 333, *-T(. a33,3<pSP Current and year ago unadjusted data appear in the__ _Board's H.4.2. release. Seasonal adjustment com_puted by this bank using 1963 through 1968 data. — I I 1 I 1 I 1 I I I 11 25 8 22 5 19 5 19 2 16 30 14 28 11 25 Dec. >r. May J une Prepared by Federal Reserve Bank of St. Louis 200