Full text of U.S. Financial Data : Week Ending: April 5, 1972
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Week ending: April 5, 1972 UBRArY JUN 0 5 1979 The nation's money stock has risen at a 9.4 percent annual rate in the past three months, after little increase in the last five months of 1971. For comparison, money grew at a trend rate of 5.9 percent from the fourth quarter of 1966 to the fourth quarter of 1971. The demand deposit component has risen at about the same rate in the past three months as the total money stock. The acceleration in the rate of increase of the monetary base has been the primary factor underlying the acce leration of the money stock in recent months. A slight decline in the money multiplier since late last year only offset a small portion of the rise in the base. The monetary base has risen at a 12.7 percent annual rate in the past three months, compared with a 3.6 percent rate in the last five months of 1971. Federal Reserve credit has risen at an 8 percent rate in the past three months, compared with a 7 percent rate in the previous five months. In the past two months, however, Federal Reserve credit has not increased, while the base has continued to grow rapidly. The discrepancy between the two series arises from a reduction in Treasury balances at the Federal Reserve. Such Treasury actions contribute to the growth of the base. Selected Monetary Aggregates (annual rates of growth) 4 weeks ending 12/29/71 4th Qtr. 1966 to 4th Qtr. 1971 Money Stock 5.9 Money Stock plus Net Time Deposits 8.1 Monetary Base 5.8 Federal Reserve Credit 8.2 * http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12/70 7/71 to 7/71 to 12/71 to 4 weeks ending 3/29/72 10.3 0.8 9.4 14.9 9.4 6.1 3.6 13.7 12.7* 13.6 7.0 8.0* Four weeks ending January 5, 1972 to the four weeks ending April 5, 1972. Prepared by Federal Reserve Bank of St. Louis Released: April 7, 1972 2 MONETARY BASE v MULTIPLIER 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS BILLIONS OF DOLLARS 94 _ COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF THE FOUR WEEKS ENDING — APRIL 5, 1972 FROM THE FOUR WEEKS ENDINGi - FEB JAN DEC. —NOV. OCT. _ SEP. AUG. 1972 . 8. 3, 6, 8, 4. 92 10.4 1971 1971 1971 1971 1971 90 MONETARY BASE 88 86 MILLIONS 84 LATEST DATA PLOTTED WEEK ENDING, APRIL 5, 1972 RATIO 2.9 RATIO 2.8 MULTIPLIER 2.7 2.6 2.5 RATIO — 2.4 3 17 3 17 31 14 23 12 26 APR MAY 9 23 1 7 21 JUL 1971 15 29 13 27 AUG OCT 10 24 8 22 5 19 2 16 1 ! 5 29 12 26 NOV 1972 LATEST DATA PLOTTED WEEK ENDING, MARCH 29. 1972 1/ USES OF MONETARY BASE ARE MEMBER BANK RESERVES AND CURRENCY HELD BY THE PUBLIC AND NONMEMBER BANKS. ADJUSTED FOR RESERVE REQUIREMENT CHANGES ANO SHIFTS IN DEPOSITS. FOR A DESCRIPTION OF THE BASE SEE THE AUGUST 1968 ••REVIEW OF THIS BANK. 2/ RATIO OF MONEY STOCK ( Ml ) / MONETARY BASE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS RESERVES IN THE NATION FEDERAL RESERVE CREDIT^/ 3 ALL MEMBER BANKS AVERAGES OF DAILT FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 33.5 33.5 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF _ THE FOUR WEEKS ENDING APRIL 5. 1972 FROM THE FOUR WEEKS ENDING. FEB. 2, 1972 9.4 " JAN. 5, 1972 12.0 DEC. 8, 1971 12.3 NOV. 3, 1971 11.0 OCT. 6, 1971 7.9 SEP. 8, 1971 8.0 AUG. 4, 1971 7.3 _ 32.5 32.0 33.0 32.5 32.0 3' .5 RESERVES 31 .0 31 .0 30.5 30.5 1972. 30.0 BILL! ONS MAR. 30.0 31.7 32.5 29.5 82 - COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF __ THE FOUR WEEKS ENDING _ APRIL 5. 1972 FROM THE FOUR WEEKS ENDING) FEB. — JAN. DEC. _ NOV. ^ OCT. SEP. -- AUG. 2, 1972 5, 1972 8, 1971 3. 1971 6, 1971 8, 1971 4, 1971 80 -1.5 78 FEDERAL RESERVE CREDIT 76 74 1972 MILLIONS — 70 3 IT 5 U 31 14 21 12 » APR MAY 0 23 7 21 4 II JUL AUG 1 13 2* 13 27 10 24 OCT NOV 1 22 5 19 2 16 JAN FEB 1 IS 29 12 26 LATEST DATA PLOTTED WEEK ENDING) APRIL 5, 1972 1/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.9 RELEASE. 27 DEFINED TO INCLUDE HOLD!NGS OF SECURITIES, L0AN3.FL0AT AND "OTHER11 ASSETS. ADJUSTED FOR 5iQyi25^ENT CHANGCS *** CHANGES IN REQUIREMENTS DUE TO SHIFTS IN DEP6siTS AMONG wLASSkS OF BANKS• http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS DEMAND DEPOSfT COMPONENT OF MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 1912 FEB, MAR BILLIONS OF DOLLARS 9IUIQMS 23 i179.0 re. i 180.2 i_LLL 3 17 3 17 31 14 28 12 26 APR 9 23 7 21 1 16 1 15 29 13 27 10 24 8 22 MAY S 19 2 JAN FEB 16 1971 1 IS 29 12 26 1972 LATEST DATA PLOTTED WEEK ENDINGi MARCH 29, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING! 3/31/71 7/28/71 9.4 7. 1 6. 1 4.9 4.7 4.5 5.3 5.9 -0.7 -0.5 -0.8 -Q.3 0.2 2. 1 3.3 9/1/71 9/29/71 10/27/71 12/1/71 12/29/71 1/26/72 TO THE AVERAGE OF FOUR WEEKS ENDINGi 9/ 1/71 9/29/7! 10/27/71 12/ 1/71 12/29/71 1/26/72 3/ 1/72 3/29/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -2.6 -2. 2 -1.2 -0.4 1.9 3.4 -1.0 0.0 0.7 3.3 4. 7 0.0 0.9 4.0 5.6 2.6 6.3 7.9 8.2 9.7 12.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK AVERAGES OF DAILY p I GLJRES SEASONALLY ADJUSTED BILL'ONS of DOLLARS BILLIONS OF DOLLARS 240 BILLIONS 232.2 231.3 232.4 233.9 233.6 233,4 235 230 225 220 215 LLLL 3 1/ 3 1/ 31 14 28 12 26 9 23 7 21 4 18 1 15 29 13 27 10 24 8 22 5 19 2 16 1971 1 15 1972 LATEST DATA PLOTTED WEEK ENDING. MARCH 29, 1972 CURRENT DATA APPEAR !N THE BOARD OF GOVERNORS' H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 3/31/71 7/28/71 9.3 7.3 6.5 5.3 5. ’ 5.0 5.7 6.2 0.5 0.7 0.0 0. 7 1. 1 2.9 3.9 9/1/71 9/29/71 10/27/71 12/1/71 12/29/71 1/26/72 TO THE AVERAGE OF FOUR WEEKS ENDING: 9/ 1/71 9/29/71 10/27/71 ’2/ 1/71 12/29/71 1/26/72 3/ 1/72 3/29/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -0.9 -1.2 0.0 0. 7 2.8 4.0 -0.5 0.9 1.5 3.9 5. 1 0.8 1.6 4.5 5.8 3.8 7.0 8.2 8.4 9.4 12.2 PREPARED BY FEDERAL RFSFRVE BANK OF ST. LOUIS 6 TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DA!lY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 280 270 DEPOSITS TOTAL — 260 250 = 240 - 230 NET TIME DEPOSITS* ■= 220 = 210 = 200 3 17 3 17 31 14 28 12 26 9 23 72! 4 18 1 15 29 13 27 OCT 10 24 8 22 NOV 5 19 2 16 JAN FEB 197’ 1 15 29 12 26 1972 LATEST DATA PLOTTED WEEK ENDING: MARCH 29, '972 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 WFEKLY REPORTING COMMERCIAL BANKS. NET TIME DEPOS1TS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 3/31/71 7/28/71 9.9 9.8 10.3 11.0 11.6 '3.0 ’3.5 '3.2 5.5 8.0 '0.0 '1.2 13.6 M. 3 '3.8 9/1/71 9/29/71 10/27/71 12/1/71 12/29/71 1/26/72 TO THF. AVERAGE OF FOUR WEEKS END'NG: 9/ 1/71 9/29/71 10/27/71 12/ 1/71 ’2/29/71 1,26/72 3/ 1/72 3, 29/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11.4 12.9 13.8 '6. 4 '6.6 '5.7 14.8 '5.4 '8. 2 18. 1 ’6.8 16.0 19.5 19.0 ’7.3 22. 2 20.4 17.9 22.1 18.2 14.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK PLUS TIME DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS D, E 510 = 500 MONEY STOCK PLUS TOTAL TIME DEPOSITS = 490 ■= 480 470 - 460 450 MONEY STOCK PLUS NET TIME DEPOSITS ** 440 430 420 3 17 3 1/ 31 H 28 12 26 9 23 / 21 1 13 29 13 2/ 10 24 8 22 5 19 2 16 1 15 29 12 26 LATEST DATA PLOTTED WEEK END INGi MARCH 29, 19/2 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. M* IS DEFINED ASt CURRENCY, DEMANO DEPOSITS PLUS NET TIME DEPOSITS (SEE PAGE 6). MONEY STOCK !PLUS NET TIME DEPOSITS i COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF 1 3/31/71 7/28/71 9/1/71 9/29/71 10/27/71 12/1/7 1/26/72 1 THE AVERAGE r FOUR WEEKS IDINGs 9/ 1/71 9/29/71 10/27//1 12/ 1/71 12/29/71 1/26/72 3/ 1/72 3/29/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9.6 8.5 8.4 8.2 8.4 9.0 9.6 9.7 2.8 4.3 4.9 5.9 7.3 8.5 8.8 5.3 5.8 6.9 8. 4 9.6 9.8 7.0 8.1 9.7 ’0.9 10.9 8.3 10.3 11.6 i1.5 12.8 13.7 13.0 15.0 13.7 13.2 PREPARED BY FEDFRAL RESERVE BANK OF ST. LOUIS 8 CERTIFICATES OF DEPOSIT LARGE COMMERCIAL. BANKS WEDNESDAY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 36 ---- 1------ 1--- 3 17 3 17 31 14 28 12 26 9 23 1 7 21 15 29 13 27 OCT 10 24 BILLIONS or DOLLAR.-' --- ------ ----- 36 1 5 19 15 29 '2 26 NOV 1 972 LATEST DATA PLOTTED WEEK ENOINGs MARCH 29, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF *100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MONEY AND TIME DEPOSIT DATA 1972 FEB. 2 9 16 23 MAR. 1 8 15 22 29 APR. 5 12 ’9 26 CERTIFICATES OF DEPOSIT BILL!ONS NET TIME DEPOS1TS * 33.4 33.5 33.8 34.3 33.8 33.7 33.0 33. 1 33.6 242.4 243.0 244.4 245.0 245.9 245.7 246.S 246.4 246.6 M2 ** 472.2 473. 3 475.6 477.2 477.3 478. ’ 480.6 480.0 479.9 1 1 ! : * SEE FOOTNOTE PAGE 6. ** SEE FOOTNOTE PAGE 7. PRFPARFD by FEDERAi. RFSFRv'F BANK Oc Sr. LOU’S MEMBER BANK DEPOSITS SUBJECT TO RESERVE REQUIREMENTS (CREDIT PROXY ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED billions of dollars billions of dollars CREDIT PROXY ADJUSTED 1/ CREDIT PROXY 3 17 3 17 31 M 28 12 26 APR 9 23 7 21 4 18 ! 15 29 13 27 10 21 MAY OCT NOV 8 22 5 19 2 16 JAN FEB 1971 LATEST DATA PLOTTED WEEK ENDINGt MARCH 29, 15 29 12 26 1972 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' 1/ 1 H.9 RELEASE. INCLUDES MEMBER BANK DEPOSITS, BANK-RELATED COMMERCIAL PAPER, EURODOLLAR BORROWINGS OF U.S. BANKS, AND CERTAIN OTHER NONDEPOSIT SOURCES. 1972 FEB. 23 MAR. 1 8 15 22 29 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BILL!ONS CRED1T PROXY CRED1T PROXY ADJUSTED 363.6 364.7 366.2 368.7 369.0 369.5 367.2 368.3 369.9 372.5 372.7 373. 4 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING MARCH 29, 1972 FROM THE FOUR WEEKS ENDING; CREDIT CREDIT PROXY PROXY ADJUSTED JAN. DEC. DEC. OCT. SEP. SEP. JUL. 26, 1972 29, 1 97 1 1 197! • # 1971 27, 29, 1971 1 . 1971 28, 1971 12.4 12.6 14. 1 13. 1 11.4 10.5 10.0 1 ’ .8 12.0 12.3 12. 1 11.1 10.3 9.6 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT CORPORATE Am BONDS 6.5 MUNICIPAL PRIME COMMERCIAL LOAN RATE DISCOUNT RATE THREE-MONTH TREASURY BILL MARKET YIELD 5 19 5 19 FEB MAR 2 16 30 14 28 11 APR MAY 25 JUN 9 23 JUL 1971 6 20 3 17 1 AUG SEP OCT 15 29 12 26 10 24 T 21 4 18 NOV FEB DEC JAN 3 17 31 MAR 1972 14 28 APR LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: APRIL 7, 1972 1972 FEB. 4 1I 18 • 25 MAR. 3 10 17 24 31 APR. 7 * 14 21 28 CORPORATE Aaa BONDS 3-MONTH TREASURY BILLS 3-5 YEAR GOVERNMENT SECURITIES LONG-TERM GOVERNMENT SECURITIES MUNICIPAL BONDS «* 7.25 7.29 7.28 7.26 7.25 7.24 7.22 7.24 7.24 7.24 3.35 3. 09 3.04 3.22 3.44 3.57 3.85 3.8! 3.82 3.8! 5.55 5.51 5.47 5.50 5.50 5.57 5.84 5.83 5.92 6.07 5.70 5.71 5.65 5.63 5.62 5.62 5.67 5.68 5.69 5.72 5.35 5.27 5.24 5.28 5.29 5. 18 5.32 5.34 N. A. N. A. * AVERAGES OF RATES AVAILABLE. *# BQND BUYER’S AVERAGE INDEX OF 20 MUNIC'PAl BONDS, THURSDAY DATA. N.At>,|&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- COMMERCIAL PAPER 4-T0-6 MONTH FEDERAL FUNDS RATE 1-L I..1 11 l.J 5 19 5 19 111, I. ne jo m a it a 9 23 e 20 3 1 ir '5 29 12 2S 10 24 7 21 4 18 3 17 14 28 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK END1NGs APRIL 7, 1972 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1972 FEB. 4 1 1 18 25 MAR. 3 10 17 24 31 APR. 7 * 14 21 28 PRIME COMMERCIAL PAPER 4-6 MONTH FEDERAL FUNDS PRIME BANKERS*** ACCEPTANCES 90 DAY CD'S#* 3.98 4.00 3.93 3.88 3.90 4.00 4.20 4.30 4.33 4.50 3.20 3.28 3.50 3.19 3.28 3.60 3.93 3.98 4. 18 4. 23 3.75 3.50 3.45 3.44 3.60 3.73 4.03 4. 13 4.13 4.33 3.82 3.67 3.61 3.54 3.65 3.70 3.86 4.09 4.28 4.39 * AVERAGES OF RATES AVAILABLE. FEDERAL FUNDS LAST FIVE DAYS AVAILABLE ** DATA ARE SECONDARY MARKET RATES. WEEKLY AVERAGES ENDING WEDNESDAY TWO DAYS EARLIER. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.9 RELEASE. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS BORROWINGS AND EXCESS RESERVES ALL MEMBER BANKS IN THF NATION AVFRAGFS OF DAILY FIGURES BILLIONS OF DOLLARS BILLIONS OF DOLLARS T3URROWTR55' EXCESS RESERVES - 0.8 NET - 1.6 3 17 3 17 31 14 28 12 26 9 23 FREE RESERVES 7 21 4 18 1 15 29 13 27 10 24 8 22 5 19 197! LATEST DATA PLOTTED WEEK ENDINGt APRIL 5, 1972 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 16 1 15 29 12 26 1972 MILLIONS 1972 FEB. 2 9 16 23 MAR. 1 8 15 22 29 APR. 5 12 19 26 EXCESS RESERVES 245 50 3' 1 130 82 176 405 74 310 396 BORROWINGS 16 42 18 14 67 103 M 1 15 155 '41 FREE RESERVES 229 8 293 ' 16 15 73 39! - 189 155 255 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS