Full text of U.S. Financial Data : Week Ending: April 8, 1981

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 8, 1981
LIBRARY
W&is

liST

The Depository Institutions Deregulation Committee (DIDC)
has amended its rules concerning the effective date of ceiling rates on
the money market certificate (MMC) and the small saver certificate
(SSC). The MMC is a time deposit with a maturity of six months that is
issued in a denomination of $10,000 or more. The maximum rate payable
on MMCs is linked to the auction average discount yield on the most
recently issued six-month Treasury bill. The SSC is a certificate of
deposit that may be issued in any denomination, but with a maturity of
2-1/2 years or more. The ceiling rate of interest payable on SSCs is tied
to the average 2-1/2 year yield on U.S. Treasury securities as determined
biweekly by the U.S. Treasury.
Under the revised rules, the ceiling rates of interest payable
on MMCs and SSCs will become effective the day after they are
announced. Ceiling rates for such deposits are normally announced on
Monday and, thus, will become effective on Tuesday rather than
Thursday as under the previous rules. When a holiday occurs on Monday,
the new ceiling rates will be announced on Friday and become effective
on Saturday. This action will prevent depositors from benefiting from
the lag between the announcement and the implementation of the new
ceiling rate. Prior to the recent rule change depositors had the
opportunity to know on Tuesday and Wednesday the new ceiling rate
that would become effective on Thursday. If the new ceiling rate was
lower than the ceiling in place on Tuesday and Wednesday, investors
would gain by depositing funds before the new ceiling took effect. On
the other hand, if the new ceiling rate was higher than the previous
ceiling, investors would find it advantageous to wait until the new
ceiling took effect before purchasing certificates. The recent DIDC
action will remove this advantage for depositors and should smooth the
flow of deposits into these certificates.
The change for SSCs, however, will have no immediate effect
because of a pre-existing maximum interest rate ceiling. On February
27, 1980, prior to the establishment of the DIDC, federal regulatory
agencies announced a temporary maximum ceiling rate of 12.00percent
for insured savings and loan associations and mutual savings banks and
11.75 percent for federally insured commercial banks. These caps have
been binding continuously since November 1980. If the cap were
removed, the interest rate limitation on SSCs for the period March 19
through April 1 would have been 13.55 percent for thrift institutions and
13.30 percent for commercial banks. The DIDC is considering a proposal
to remove these caps.
Prepared by Federal Reserve Bank of St. Louis


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

Released-. April 10, 1981

2
ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

170

BHUQNS
MAR.

168

164.3
163.4
164.3
164.3
164.9
164.6

166

164

162

160

158

156
154

5

FEB

IS

2 16 30

MAR

14 28 II

MAY

25

9 25

JUN

6 20

3

AUG

SEP

LATEST DATA PLOTTED WEEK ENDING: APRIL 8,

17

1981

THE ADJUSTED MONETARY BASE CONSISTS OF: ( 1 ) MEMBER BANK RESERVES AT THE FEDERAL RESERVE
BANKS, (2 ) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF
COMME&CIAL BANKS), AND ( 3 ) AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO 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 ,
4/9/80

7/9/80

9/10/80

10/8/80

8.4
9. 1
6.9
4.7
5.7
5.7

10. 1
6.9
4.2
5.5
5.6

AVERAGE OF FOUR WEEKS ENDING:

11/5/80 12/10/80

1/7/81

2/11/81

3.6
4.2

8.7

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/10/80
10/ 8/80
11/ 5/80
12/10/80
1/ 7/81
2/11/81
3/11/81
4/ 8/81

9.3
8.9
9. 1
9.2
8.3
7.0
7.4
7.2


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

11.5
11.2
10.9
9.2
7.2
7.7
7.5

5.5
2.6
4.5
4.8

-1.4
2.5
3.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ADJUSTED BANK RESERVES v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS of dollars

PILLIONS
46.2
46.6
46.4
46.3
46.5

APR.

I I I I
6 20

5

19

2 16 30 M 28

11

25

9 23

6 20

3 17
JAN

LATEST DATA PLOTTED WEEK ENDING: APRIL 1,

FEB

MAR

1981

1/ ADJUSTED MONETARY BASE LESS CURRENCY HELD BY THE NONBANK PUBLIC (MEMBER BANK RESERVES AT
FEDERAL RESERVE BANKS ( + ) CURRENCY HELD BY COMMERCIAL BANKS).

ADJUSTED BANK RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE,
4/2/80

7/2/80

9/3/80

12.2
7.8
12.6
7.3
4.9
5.7
5.4

1.4
1 1.9
4. 1
1.6
3. 1
3.1

AVERAGE OF FOUR WEEKS ENDING:

10/1/80 10/29/80

12/3/80 12/31/80

2/4/81

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/ 3/80
10/ 1/80
10/29/80
12/ 3/80
12/31/80
2/ 4/81
3/ 4/81
4/ 1/81

6.5
6.9
5. 1
8.5
5.5
4.0
4.7
4.5


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

13.3
2.6
0.0
2. 1
2.2

6.5
1.6
3.8
3.7

-1 1.7
-5.0
-3.2

1.3
1.7

7.3

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 DOLLARS

400 ---------- 1---------- 1-------PILLIQN?
_ FEB

364.6
365.7
365.5
363.7
363.3
365. 1

— APR

6

20

FEB

5

19

MAR

2

16 30

APR

14

28

MAY

II

25

JUN

9 23

JUL

6 20

3

AUG

SEP

17

OCT

NOV

DEC

JAN

FEB

1980
LATEST DATA PLOTTED WEEK ENDING:
CURRENT DATA APPEAR

MAR

APR

1981

APRIL I.

1981

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.

MONEY STOCK (MIA)
COMPOUNDED ANNUAL RATES OF CHANGE,
4/2/80

7/2/80

9/3/80

14.2
13.6
1 1.7
7.2
-0.5
-2.0
-2.3

12.8
9.9
3.7
-6.0
-7. 1
-6.8

AVERAGE OF FOUR WEEKS ENDING:

10/1/80 10/29/80

12/3/80 12/31/80

2/4/81

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/ 3/80
10/ 1/80
10/29/80
12/ 3/80
12/31/80
2/ 4/81
3/ 4/81
4/ 1/81

4.3
5.7
6.5
6.4
4.0
-1.0

-2.0
-2.3


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

8.3
0.7
-9.9
-10.5
-9.6

-3.8
-15.3
-14.8
-13.0

-25.0
-21.5
-17.9

-24.5
-18.9

-9.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK ( M1B)
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

LLIONS OF DOLLARS

BILLIONS OF DOLLARS
------ ------------ --------------- 430

BILLIQNS
_

FEB.

416.6
419.9
421 .8
420.4
420.6
423.8

25

MAR.

I

APR

I I I I

I I I I
6 20

5

FEB

MAR

19

2

16 30

APR

14 28

MAY

II

JUN

25

9 23

JUL

6 20

3

AUG

SEP

17

OCT

NOV

DEC

JAN

FEB

1980

MAR

APR

1981

LATEST DATA PLOTTED WEEK ENDING: APRIL 1.

1981

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1

H.6 RELEASE.

MIB CONSISTS OF MIA PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITARY INSTITUTIONS.

MONEY STOCK ( MIB )
COMPOUNDED ANNUAL RATES OF CHANGE,
4/2/80

7/2/80

9/3/80

18.0
17.2
15.0
10.3
10.5
10.2
10.5

16.0
12.9
6.4
7.5
7.6
8.2

AVERAGE OF FOUR WEEKS ENDING:

JO/1/80 10/29/80

12/3/80 12/31/80

2/4/81

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/ 3/80
10/ 1/80
10/29/80
12/ 3/80
12/31/80
2/ 4/81
3/ 4/81
4/ 1/81

7. 1
8.7
9.4
9.2
6.8
7.3
7.4
7.8


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

10.9
3.2
5.4
5.9
6.9

- 1.5
2.9
4.0
5.5

0. 1
2.5
4.8

9.9
10.7

10.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6
YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

22.0

22.0

21 .0

21.0
PRIME BANK
LOAN RATE

20.0
19.0

19.0
18.0
17.0
16.0

15.0

15.0
M.O

13.0

13.0
CORPORATE
Aaa BONDS

12.0

1 I .0

11.0

10.0

10.0
90 DAY CD’S

MUNICIPAL
BONDS**

9.0
8.0
7.0

1

15 29

14 28

II

25

9

25

6 20

JUN

A

0

IB

JUL
1980

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: APRIL 10,

90 DAY
CD’S

1981
FEB.

MAR.

APR.

6
13
20
27
6
13
20
27
3
10 *
17
24

16.38
16.71
16.31
15.31
15.74
14.92
13.53
13.82
13.65
14.85

PRIME
COMMERC1AL
PAPER xxx
15.53
15.77
15.34
14.60
15. 1 1
14.30
12.96
13. 19
13.22
14.16

PRIME
BANKERS’
ACCEPTANCES
15.92
16.23
15.48
14.90
15.22
14.31
13.09
13.44
13.31
14.56

CORPORATE
Aaa BONDS
13.07
13.41
13.51
13.45
13.61
13.31
13.06
13.32
13.41
13.72

CORPORATE
Baa BONDS
15.32
15.41
15.36
15.39
15.49
15.40
15.20
15.27
15.25
15.40

1981

MUNICIPAL
BONDS **
9.90
9.99
10.22
10.27
10.40
10.34
9.81
10.09
10.21
N. A.

* AVERAGES OF RATES AVAILABLE.
*8K BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
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
21 .0

PERCENT

21.0
FEDERAL FUNDS RATE

20.0

20.0

19.0

19.0

18.0

18.0

17.0

17.0

16.0

16.0

15.0

15.0

14.0

14.0

13.0

13.0

5-YEAR
TREASURY SECURITIES

12.0

12.0
1 1 .0

11.0

DISCOUNT
RATE

10.0

10.0

9.0

9.0
8.0

8.0
3-MONTH
TREASURY BILL

7.0
0

1

15

FEB

29 14 28 11

MAR

25 9 23

APR

MAY

8 20

4 18

1

JUN

JUL
1980

AUG

15

7.0

29 12 26 10 24

SEP

OCT

7 21

5

NOV

DEC

19

2

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

FEDERAL
FUNDS xx

1981
FEB.

MAR.

APR.

6
13
20
27
6
13
20
27
3
10 X
17
24

17. 19
16.51
15.81
14.96
15.73
15.53
14.13
13.48
14.93
15.43

3-MONTH
TREASURY
BILL
14.90
15.51
14.68
14. 19
14.44
13.79
12.63
12.91
12.60
13.70

6-MONTH
TREASURY
BILL asm
13.74
14.43
14.76
13.61
14. 13
13.43
12. 10
12.27
12.08
13.78

16 30 19 27 13 27 10 24

JAN

FEB
MAR
1981

APRIL 10,


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

1981

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

12.84
13.31
12.98
12.89
13.07
12.46
11.69
12.09
11.86
12.52

13. 13
13.59
13.32
13.63
13.76
13.33
12.98
13.55
13.46
13.87

12.45
12.88
12.64
12.78
12.88
12.51
12.20
12.74
12.68
13.20

X AVERAGES OF RATES AVAILABLE.
XX SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE.
XXX NEW ISSUE RATE
RATES ON LONG-TERM TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST.
TREASURY BILL YIELDS ON DISCOUNT BASIS.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

APR

LOUIS.

0

8
MULTIPLIERS!/
CURRENCY OF MONEY STOCK MEASURES 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

RATIO

RATIO
MONEY MULTIPLIERS

RATIO

I I I I I I I I I I I I I I I I
LATEST DATA PLOTTED WEEK ENDING: APRIL 1,

1981

BILLIONS OF DOLLARS
>22 ---------- 1---------- .--------

BILLIONS OF DOLLARS

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

COMPOUNDED ANNUAL RATES
OF unmiuc.
CHANGE. nvcnnuc
AVERAGE ur
OF
— vr
the four Weeks ending
«rr\ 1

1.

1 s»o 1

rnuM

THE FOUR WEEKS ENDING:

— FEB.
1980
1980
1980
1980
1980
1980

— OCT.

CURRENCY

BULLIONS

1281
fEB.

25

APR.

I I I 1 I I I I I I I I I I I I
6 20

5

FEB

MAR

19

2

16 30

APR

14 28

MAY

I I

JUN

25

9

23

JUL
1980

6

20

AUG

LATEST DATA PLOTTED WEEK ENDING: APRIL 1,

3

17

SEP

1

15 29

OCT

12

26

NOV

10 24

7 21

DEC

JAN

FEB

MAR
1981

APR

1981

1/ RATIO OF MONEY STOCK (MIA) OR ( M1B ) 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

>22

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

billions of dollars

BILLIONS

of dollars

280
BILLIONS
_ FEB.

246.9
248.0

— APR.

246.6

245.8

FEB

MAR

AUG

SEP

1980
LATEST DATA PLOTTED WEEK ENDING:
CURRENT DATA APPEAR

APRIL 1.

1981

IN THE BOARD OF GOVERNORS*

H.6 RELEASE.

DEMAND DEPOSIT COMPONENT OF MONEY STOCK (MIA)
COMPOUNDED ANNUAL RATES OF CHANGE,
4/2/80

7/2/80

2.0
4. 1
5.0
5.0
1.8
-4.8
-6.4
-6.6

15.5
14.4
12.2
6. 1
-4.2
-6.5
-6.7

9/3/80

AVERAGE OF FOUR WEEKS ENDING:

10/1/80 10/29/80

12/3/80 12/31/80

2/4/81

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/ 3/80
10/ 1/80
10/29/80
12/ 3/80
12/31/80
2/ 4/81
3/ 4/81
4/ 1/81


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

13.7
10.3
1.6
-11.2
-12.9
-12.4

7.7
-2.5
-16.3
-17.4
-16.2

-8.0
-22.8
-22.7
-20.3

-35.0
-31.3
-26.6

-35.0
-27.9

-15.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10
SAVINGS PLUS SMALL TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
495

BILLIONS
Z

FEB.
MAR.

490

480.4
481 .7
482.4
482.4
482.8
483.7

APR.

485
480
475
470
465
460

I I I I

I I I I
20

5

19

2

16 30

14

28

II

25

9

23

6 20

3

17

1

15 29

12

26

10 24

1980
LATEST DATA PLOTTED WEEK ENDING:

APRIL 1,

1981

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS'
TIME DEPOSITS

H.6 RELEASE.

ISSUED IN DENOMINATIONS OF LESS THAN *100,000.

SAVINGS PLUS SMALL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
4/2/80

7/2/80

9/3/80

1 1.6
10.9
11.1
1 1.8
11.2
10.0
9. 1
8.9

10.9
11.1
12.4
1 1 .4
9.6
8.5
8.2

9.8
12.3
10.8
8.4
7. 1
6.9

AVERAGE OF FOUR WEEKS ENDING:

10/1/80 10/29/80

12/3/80 12/31/80

2/4/81

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/ 3/80
10/ 1/80
10/29/80
12/ 3/80
12/31/80
2/ 4/81
3/ 4/81
4/ 1/81


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

14.5
11.9
8.6
7.1
6.8

11.8
7.7
6.0
5.9

3. 1
2.2
3.0

0.5
2.0

2.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

BILLIONS

of dollars

5.5
1981
MAR.

MILLIONS
A

11...1 1 I I I

I I I I
6 20

5 19

FEB

MAR

2

16 60 14 28

MAY

11

25

9 23

JUN

6 20

3

17

AUG

SEP

JAN

FEB

MAR

1980
LATEST DATA PLOTTED WEEK ENDING: APRIL 8,

1981

BUSINESS LOANS
(COMMERCIAL AND
BILLIONS OF DOLLARS
178
176
174
172
170
168

162

BILLIONS OF DOLLARS
178

COMPOUNDED ANNUAL R TES
OF CHANGE. AVERAGE
“ THE FOUR WEEKS END 1 G
— APR 1L 1, 1981 FROM
— THE FOUR WEEKS END IKIG:
—
“
—
—
—
—

166
164

INDUSTRIAL)

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

FEB. 4, 1981
DEC. 31, 1980
DEC. 3, 1980
OCT. 29, 1980
OCT.
1, 1980
JUL. 2, 1980
APR. 2. 1980

s

/

r

-

152
150
148

174

/
!

172
170

\-

168
-

166
164

-

162
160

-

A.

158

154

176

-

-10.2
-6.3
-0.6
5.5
6.5
9.8
5.5

160

156

-

158

-

-

156
-

1981

-

FEB.
MAR.

25
4
II
18
25
APR.
1

-

s 111

111.

1111

6 20

5 19 2

FEB

MAR

111

_LI 1

1 1 1 1

JUN

JUL
1980

16 30 14 28 11

APR

MAY

25 9 23

1 1 1
6 20

3

AUG

SEP

LATEST DATA PLOTTED WEEK ENDING: APRIL 1,


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

1 l 1
17

1111,
15 29

OCT

I 1 1
12 26

NOV

11 11

MILLIONS

“

169,992
169,813
168,766
168,914
169,009
172,102

“
_
~
—

11 ii 11111111111

10 24

7 21

4

DEC

JAN

FEB

18

4

18

MAR
1981

1

15 29

APR

1981
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

12

2

LARGE TIME DEPOSITS
ALL COMMERCIAL BANKS
BILLIONS OF DOLLARS

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS of dollars

m
H
C
2
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1980
LATEST DATA PLOTTED KEEK ENDING: APRIL 1.

1981
1981

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


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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