Full text of U.S. Financial Data : Week Ending: April 30, 1975

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

SSferEa

I

Week ending: April 30, 1975

IBRArV1
jM

08

Fluctuations in Treasury deposits at commercial
banks and Federal Reserve Banks affect the amount of money
balances held by the nonbank public, unless the effects are
offset by Federal Reserve actions. Treasury deposits at
commercial banks are not counted as part of the money
supply. Thus, for example, when a tax payment is made to
the Treasury or the Treasury receives payment for new
securities it has sold to the public, privately held demand
deposits (included in the money stock) are drawn down and
Treasury deposits (not included in the money stock) are
increased. As long as the Treasury maintains the deposits
at commercial banks, the monetary base (page 2) is not
affected, but the multiplier (p. 3) declines. When the
Treasury transfers funds from commercial banks to Federal
Reserve Banks, bank reserves and the monetary base decrease.
Hie decrease in bank reserves leads to a further contraction
of the money stock, unless offset by Federal Reserve actions
such as purchases of Government securities.
Since the first of the year Treasury deposit
balances at commercial banks have been considerably lower, on
average, than in the same period of the three previous years.
Over the last 16 weeks, Treasury deposits at commercial
banks have averaged $3.8 billion, compared to an average of
$7.8 billion over the first 16 weeks of the three previous
years.
Treasury deposits at Federal Reserve Banks have
been slightly lower, on average, than in the three previous
years, $2.1 billion compared with $2.4 billion. However,
these deposits have exhibited much greater variability this
year than in previous years. The standard deviation of
weekly Treasury deposits at Federal Reserve Banks has been
about a billion dollars over the first 16 weeks of this
year, compared to $400 million, on average, over the same
period of the previous three years.

t
;

For the week ended March 26 to the week ended April 16,
Treasury deposits at Federal Reserve Banks decreased by
$2.4 billion and the Federal Reserve reduced its holdings of
Government securities by $1.9 billion. Over the two weeks
ending April 30, this process has been reversed with
Treasury deposits at Federal Reserve Banks rising by $6.9
billion and Federal Reserve holdings of Government
securities rising by $6.5 billion.

!

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

Prepared by Federal Reserve Bank of St. Louis
Released: May 2, 1975

MONETARY BASE

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
I 18

MILLIONS
116

111

112

110

106

106

6 20

3

MAR

APR

17

1

IS 29 12 26 19 24

7 21

AUG
1974

4 l«

2 16 30 13 27 II 25

t 22

SEP

5 19

5 19

FEB

MAR
1975

2 16 30 14 29

LATEST DATA PLOTTED WEEK ENDING-. APRIL 30, 1975
THE MONETARY BASE CONSISTS OF MEMBER BANK RESERVES AT THE FEDERAL RESERVE BANKS AND CURRENCY
IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AN® IN THE VAULTS OF COMMERCIAL BANKS), ADJUSTED
FOR RESERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE SAME TYPE OF DEPOSITS BETWEEN BANKS
WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY. THE MAJOR SOURCES OF THE MONETARY BASE ARE
FEDERAL RESERVE CREDIT AN® THE GOLD STOCK. DATA ARE COMPUTED BY THIS BANK. A DETAILED DE­
SCRIPTION OF THE SOURCES AND USES OF THE MONETARY BASE IS AVAILABLE AS REPRINT NO. 31 FROM
THE FEDERAL RESERVE BANK OF ST. LOUIS.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
10/ 2/74
10/30/74
11/27/74
1/ 1/75
1/28/75
3/ 5/75
4/ 2/75
4/30/75

2


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

5/1/74

7/31/74

6.8
6.9
7.5
8.0
6.5
6.7
7.1
7.0

7.5
8.5
9.1
6.7
6.8
7.4
7.2

10/2/74 10/30/74 11/27/74

9.3
10.0
6.1
6.5
7.3
7.0

11.3
5.8
6.3
7.3
7.0

3.3
4.9
6.4
6.2

1/1/75

1/29/75

3/5/75

1.5
4.6
4.8

9.6
8.3

8.6

PREPARED BY FEDERAL RESERVE BANK

OF ST.

LOUIS

MULTIPLIER 1/
FEDERAL RESERVE CREDIT*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

RATIO

MULTIPLIER

BAJifl

1 i 1 1 11
LATEST DATA PLOTTED WEEK ENDING: APRIL 23, 1975
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
106

“

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
-- THE FOUR WEEKS ENDING
APRIL 30, 1975 FROM
- THE FOUR WEEKS ENDING:
- MAR. 5, 1975 16.6
JAN. 29
~ M.4
1975
- JAN.
1
NOV. 27
- OCT. 30
10.0
JUL. 31
- MAY
1

104

102
FEDERAL RESERVE CREDIT

100
98

96

ISIS.

6 20

3 17

MAR

APR

1

15 29 12 26 10 24

7 21

4 IS

AUG

SEP

2 16 30 IS 27 11 23

1974

NOV

DEC

0 22

5 19

5 19

FEB

MAR

MILLIONS

—

94

—

92

2 16 30 14 26

1975

LATEST DATA PLOTTED WEEK ENDING: APRIL 30, 1975
1/ RATIO OF MONEY STOCK (Ml) / MONETARY BASE.
2/ DEFINED TO INCLUDE HOLDINGS OF SECURITIES, LOANS, FLOAT AND 11 OTHER'' ASSETS, ADJUSTED
FOR RESERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE SAME TYPE OF DEPOSITS BETWEEN
BANKS WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY.
DATA ARE SEASONALLY ADJUSTED
BY THIS BANK.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
-- ----------- n 645

645 r---- 1----- ,---billions

628.2

629.7
631.0
631.7
630.9

« 20

3 IT

MAR

APR

1

15 29 12 26 10 24

7 21

4 16

AUG

SEP

2 16 30 13 27 11

NOV

25

6 22

DEC

5 19

5 19

FEB

MAR

2 16 30 14 26

LATEST DATA PLOTTED WEEK ENDING: APRIL 23, 1975
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 ENDING:
4/24/74
7/24/74 9/25/74 10/23/74 11/20/74 12/25/74 1/22/75 2/26/75
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/25/74
10/23/74
11/20/74
12/25/74
1/22/75
2/26/75
3/25/75
4/23/75


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

4

5.9
6.2
6.6
6.5
6.1
6.4
7.0
7.1

5.3
6.3
6. 1
5.6
6.1
6.9
7. 1

8.5
7.4
6.3

6.8
7.9
7.9

7.4
5.9
6.7
7.9
8,0

4.3
5.9
7.6
7.7

6.0
8.3
8.3

11.0
10.2

11.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK
AVERAGES OF DAILY FIGURES

6 ILL IONS of dollars

SEASONALLY ADJUSTED

billions of dollars

billions

286.2
287.3
287.5
288.3
288.3

0 20

3 17

MAR

APR

1

IS 20 12 20 10 24

7 21

4 10

AUG

SEP

2 10 30 13 27 11 25

NOV

0 22

DEC

5 10

5 10

FEB

MAR

2 10 30 14 20

LATEST DATA PLOTTED WEEK ENDINGt APRIL 23, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
THE MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AND COIN HELD BY THE NONBANK PUBLIC.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
4/24/74
7/24/74 9/25/74 10/23/74 11/20/74 12/25/74 1/22/75 2/26/75
TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
9/25/74
10/23/74
11/20/74
12/25/74
1/22/75
2/26/75
3/26/75
4/23/75


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

3.7
3.9
4.0
4.3
3.0
3.0
3.9
4.0

2.2
2.8
3.6
1 .6
1.9
3.3
3.5

4.7
5.4
2.0
2.2
4. 1
4.3

5.7
1.1
1.6
4.0
4.2

-0.4
0.8
3.8
4.1

-2.2
2.8
3.5

8.2
7.4

10.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
13,5

PERCENT
13.5

13.0

13.0

12.5

12.5

12.0

12.0

PRIME BANK
LOANRATE

11.5

11.5

11.0

11.0

10.5

10.5
COMMERCIAL PAPER

10.0

10.0

9.5

9.5

9.0

9.0

8.5

8.5
CORPORATE AAA BONDS

8.0

8.0

7.5

7.5

7.0

7.0

6.5

6.5

6.0

6.0

MUNICIPAL
BONDSme

5.5

5.5

5.0

5.0

4.5

4.5

0

0
MAR

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

MAR APR
1974
1975
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MAY 2, 1975

1975
MAR.

7
14
21
28
APR.
4
1 1
18
25
MAY
2 *
9
16
23
30

6

FEB

90 DAY
CD'S soot

PRIME
COMMERCIAL
PAPER
4-6 MONTH

PRIME
BANKERS'
ACCEPTANCES

Aaa BONDS

MUNICIPAL
BONDSm

6.38
6.26
6.07
6.06
6.16
6.38
6.35
6.25
6.15

6.25
6.08
5.95
5.91
6,03
6.23
6.20
6.13
6.17

6.37
6.29
6.1 1
6. 1 1
6.15
6.20
6.11
6. 16
6.10

8.59
8.61
8.69
8.78
8.87
8.94
8.95
8.97
9.01

6.54
6.65
6.77
6.95
6.93
7.03
6.86
6.97
N. A.

CORPORATE

MAY

* AVERAGES OF RATES AVAILABLE.
HBH 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 SHORT-TERM INTEREST RATES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT
-n 14.0

14.0 r-

FEDERAL FUNDS RATE

12.5

11.0

DISCOUNT RATE

THREE-MONTH TREAS
BILL MARKET YIELD

1 15
MAR

29 12 2« 10 24 r 21 5 i9
APR
MAY
JUN
JUL

2 i« 3o is 27
AUG
SEP
OCT

NOV

6.5 >

DEC

JAN

1974

FEB

MAR

APR

MAY

,975

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING; MAY 2, 1975

1975
MAR.

7
14
21
28
APR.
4
11
18
25
MAY
2 *
9
16
23
30

FEDERAL
FUNDS UK

3-MONTH
TREASURY
BILLS

3-5 YEAR
GOVERNMENT
SECURITIES

LONG-TERM
GOVERNMENT
SECURITIES

5.88
5.44
5.38
5.53
5.59
5.28
5.44
5.54
5.71

5.57
5.46
5.41
5.53
5.62
5.74
5.44
5.66
5.57

6.86
6.88
7.05
7.19
7.47
7.74
7.75
7.90
7.90

6.67
6.67
6.75
6.83
6.88
7.05
7.03
7.08
7.12

►
* AVERAGES OF RATES AVAILABLE.

**


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

TMAN DAIE
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

31LLI QMS OF DOLLARS

BILLIONS OF DOLLARS
350

BILLIONS
341.0

345

342.7

340

343.6
335
330
325
320
315
310
305
300

6 20

3 17

MAR

APR

1

13 28 12 26 10 24

7 21

AUG
1974

4 18

2 16 30 13 27 11

SEP

NOV

25

8 22

DEC

5 18

FEB

5 18

2 16 30 14 26

MAR
1975

LATEST DATA PLOTTED WEEK ENDING: APRIL 23. 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
* NET TIME DEPOSITS ARE DEFINED ASi SAVINGS DEPOSITS, TIME DEPOSITS OPEN ACCOUNT PLUS TIME
CERTIFICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN
DENOMINATIONS OF 6100,000 OR MORE BV LARGE WEEKLY REPORTING COMMERCIAL BANKS.

NET TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
4/24/74

7/24/74

7.9
8.3
9.0
8.4
8.8
9.4
9.6
9.8

8. 1
9.4
8.3
9.0
9.9
10. 1
10.2

9/25/74 10/23/74 11/20/74 12/25/74

1/22/75

2/26/75

13.2
12.7

11.7

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/25/74
10/23/74
11/20/74
12/25/74
1/22/75
2/26/75
3/26/75
4/23/75


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

5

12.1
9.2
10.1
11.0
11.1
11.2

8.6
9.9
11.1
11.3
11.3

8.4
10.4
10.7
10.9

13.7
13. 1
12.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

BILLIONS OF DOLLARS
230 ----- 1----- ,----

BILLIONS OF DOLLARS

-- ------ ----

230

BILLIONS
217.9
218.9
218.9
217.8

6 20

3 IT

1

13 20 12 26 10 24

7 21

4 16

AUG

SEP

2 16 80 13 27 11

NOV

25

6 22

5 10

3 10

2 16 SO 14 26

DEC

LATEST DATA PLOTTED WEEK ENDINGt APRIL 23, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
4/24/74
7/24/74 9/25/74 10/23/74 11/20/74 12/25/74 1/22/75 2/26/75
TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
9/25/74
10/23/74
11/20/74
12/25/74
1/22/75
2/26/75
3/26/75
4/23/75


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

2.6
2.6
2.5
2.9
1.2
1.2
2.3
2.6

-0.2
0.3
1.4
-0.8
-0.5
1.2
1.7

2.1
3.4
-0.6
-0.2
2.1
2.6

3.8
-1.5
-0.8
2.1
2.6

-2.9
-1.5
2.2
2.8

-5.2
0.9
2.0

7.5
6.9

10.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
BILLIONS OF DOLLARS

WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
96
94
92
90

SB
86
84
82
80
78
76
74
72
70

68
66
64
C 20

3 17

MAR

APR

1

15 2# 12 26 10 24

7 21

4 16

AUG

SEP

2 16 30 13 27 11

NOV

25

8 22

DEC

5 18

5 19

FEB

MAR

2 16 30 14 28

LATEST DATA PLOTTED WEEK ENDINGt APRIL 23, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 8100,000 OR MORE BY LARGE
WEEKLY REPORTING COMMERCIAL BANKS.

1975
MAR.

5
12
19
26
APR.
2
9
16
23
30
MAY
7
14
21
28

CERTIFICATES CERTIFICATES
OF DEPOSIT
OF DEPOSIT
NOT SEAS. ADJ. SEAS. ADJ.
87.8
87.9
88.0
88.4
88.1
87.0
85.9
85.2

90.2
89.2
89.5
90.1
90.2
89.4
88.6
87.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

10


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

BORROWINGS FROM FEDERAL RESERVE BANKS
ALL MEMBER BANKS

*s

IN THE NATION

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
-- 1------1--- ‘♦•S

ISIS. MILLIONS
MAR. 26

APR.

2

= 1.5
■= 0.5

6 20

5 17

MAR

APR

1

15 29 12 26 10 24

7 21

4 II

AUG

SEP

2 16 50 15 27 11 25

NOV

6 22

5 18

5 18

2 16 50 M 28

DEC

LATEST DATA PLOTTED WEEK ENDINGi APRIL 30, 19T5

BUSINESS LOANS

( COMMERCIAL AND INDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
136 ---- .---- 1--- COMPOUNDED ANNUAL RATES
— OF CHANGE. AVERAGE OF ■
_ THE FOUR WEEKS ENDING
r APRIL 23, 1975 FROM
— THE FOUR WEEKS ENDING
" FEB. 26, 1975 -14.1
"“JAN. 22, 1975 -15.2
— DEC. 25, 1974 -14.2
— NOV. 20, 1974
-8.8
_ OCT. 25, 1974
-5.7

BILLIONS OF DOLLARS
-- ------ ----- 136

MAR. 19

6 20

5 17

1

MAR

APR

MAY

15 20 12 26 10 24

JUN

JUL

7 21

4 18

AUG

SEP

2 16 50 13 27 11

OCT

1974

NOV

25

8 22

5 10

5 10

ill I I

2 16 30 14 26

DEC
1975

LATEST DATA PLOTTED WEEK ENDINGi APRIL 23, 1975


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

MEMBER BANK DEPOSITS
SUBJECT TO RESERVE REQUIREMENTS
(CREDIT PROXY )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
520 f=----1----- 1---- COMPOUNDED AMAJAL RATES OF CHANGE,
-------------- FOUR WEEKS ENDING
FROM THE FOUR
CREDIT
PROXY

APR.

--- ------- ---- =1 520

CREDIT
PROXY
ADJUSTED

28, 1875
22, 1975
25. 1974

e.o

23,

3.0
A.A

1974

24, 1974

3.7
3.8
3.1

6.9

--- ---- --- --- t—
CREDIT PROXY ADJUSTED 1/
U"

.
/X. ^

v

/

CREDIT PROXY

BILLIONS
CREDIT
PROXY
493.2
493.8
495.2
494.8
491.4

I I I II I

6 20

MAR

3 17

APR

1

13 29 12 26 10 24

2 16 30 13 27 11 25

7 21

AUG

SEP

NOV

DEC

6 22

3 IB

3 19

FEB

MAR

CREDIT
PROXY
ADJUSTED
498.0
500.0
500.0
501.5
501.2
498.8

I2 I 16I I 30

—

14 26

LATEST DATA PLOTTED WEEK ENDINGt APRIL 23, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE.
1/ INCLUDES MEMBER BANK DEPOSITS, BANK-RELATED COMMERCIAL PAPER, EURODOLLAR BORROWINGS OF
U.S. BANKS, AND CERTAIN OTHER NOfCEPOSIT SOURCES.


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

12

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

450