Full text of U.S. Financial Data : Week Ending: August 6, 1975

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

Week ending: August 6, 1975
library

JUM 08 1979


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

Fluctuations in the amount of Treasury deposits at
Federal Reserve Banks have exerted a substantial influence on
recent movements of the money stock. When the Treasury
accumulates receipts (from tax collections and the sale of
securities) in its accounts at commercial banks, demand
deposits of the public at commercial banks decrease. When
the Treasury transfers these receipts from its deposits
at commercial banks to its accounts at Federal Reserve
Banks, bank reserves decrease. As the Treasury spends, it
writes checks on its accounts at Federal Reserve Banks.
When the public deposits these checks in commercial banks,
private demand deposits and bank reserves increase.
Since the first of the year the Treasury has
held substantially higher average weekly balances at
Federal Reserve Banks and lower average balances at commercial
banks than during the same period last year. On average,
the Treasury has held a substantially larger proportion
of its deposits at Federal Reserve Banks than last year,
41 percent compared to about 27 percent over the same
period of last year. Also, the average weekly Treasury
balance at Federal Reserve Banks has been much more
variable than last year.
In recent months there have been extraordinary
short-run movements in Treasury deposits at the Federal
Reserve Banks, which have been reflected in movements of the
demand deposit component of the money stock. From mid-April
to early May, Treasury deposits at Federal Reserve Banks rose
by about $8 billion. This accumulation of receipts by the
Treasury was accompanied by about an $8.5 billion decrease in
the nonseasonally adjusted demand deposit component of the
money stock. Then, from early May to mid-June, the Treasury
used these accumulated receipts to make payments to the
public. Treasury deposits at Federal Reserve Banks fell by
about $7.5 billion and private demand deposits, on a
nonseasonally adjusted basis, rose by about $8.3 billion.
Such fluctuations in Treasury deposits at Federal
Reserve Banks do not, by themselves, influence the
longer-term growth path of money. As was recently the case,
such fluctuations tend to be offsetting. Primarily, they
impart a more jagged appearance to the growth path of money.
The basic factor underlying the growth of the monetary
base and bank reserves is changes in Federal Reserve holdings
of Government securities. In turn, the growth of the
monetary base and bank reserves dominate the longer-run growth
of the money stock and demand deposits.

Prepared by Federal Reserve Bank of St. Louis

Released: August 8, 1975

MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

3 ILL IONS OF DOLLARS

BILLIONS OF DOLLARS
120

MILLIONS
118

116

114

112

110

106

5 19

3 17 31

14 28 11 23

AUG

SEP
1974

9 23

6 20

4 18

NOV

DEC

1

13 29 12 28 12 28

FEB

MAR

9 23

7 21

MAY
1975

4 18

2 18 30 15 27

JUN

LATEST DATA PLOTTED WEEK ENDING: AUGUST 6, 1975
THE MONETARY BASE CONSISTS OF MEMBER BANK RESERVES AT THE FEDERAL RESERVE BANKS AND CURRENCY
IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND 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 AND 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.

2


COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
8/7/74

11/S/74

1/8/75

2/5/75

3/5/75

4/9/75

9.0
6.8
7. 1
7.6
7.0
6.8
8.0
7.3

4.8
5.7
6.9
6.1
5.9
7.7
6.7

1.9
5.3
4.4
4.5
7.1
6.0

9.9
7.3
6.7
9.4
7.7

6.7
6.1
9.6
7.5

3.2
9. 1
6.6

5/7/75

6/4/75

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/
2/
3/
4/
5/
6/
7/
8/

8/75
5/75
5/75
9/75
7/75
4/75
9/75
6/75

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

12.5
8.1

9.7

PREPARED BY FEDERAL RESERVE BANK OF Sf. LOUIS

MULTIPLIER 1/
FEDERAL RESERVE CRED I T 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

RATIO

MULTIPLIER

isis

Mm

LATEST DATA PLOTTED WEEK ENDING.- JULY 30, 1975
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
lOfi

COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING
AUGUST 6, 1975 FROM
THE FOUR WEEKS ENDING,

106
104

JUN
MAY
APR
MAR
FEB
NOV
AUG

6.2

-

FEDERAL RESERVE CREDIT

102
100
96
96

ISIS MILLIONS
JUL. 2 105,804

94
92

11.1 I III I mil LU
5 19

3 17 B1 14 28 11 25

AUG

SEP
1974

9 25

6 20

4 18

NOV

DEC

1 15 29 12 26 12 28

9 25

7 21

MAY
1975

4 16

2 18 50 15 27

JUN

LATEST DATA PLOTTED WEEK ENDING, AUGUST 6, 1975
1/ RATIO OF MONEY STOCK tMl ) / MONETARY BASE.
2/ DEFINED TO INCLUDE HOLDINGS OF SECURITIES, LOANS, FLOAT AM) "OTHER” ASSETS, ADJUSTED
FOR RESERVE REQUIREMENT RATIO CHANGES 1M) 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

BIU.IONS OF DOLLARS

BILL!ONS OF DOLLARS
680

BILLIONS
JUKI.

25

655

649. 1
648.7
649.6
652.4
652.7
651.8

650
645
640
635
630
625
620
615
610
605
600
595

S 19

3 17 31

14 26 II 23

AUG

SEP
1974

9 23

6 20

4 18

NOV

DEC

1

13 29 12 26 12 26

FEB

9 23

4 IS

7 21

2 l« 30 19 27

MAR
1975

LATEST DATA PLOTTED WEEK ENDING: JULY 30. 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*
7/31/74

10/30/7 4

5.7
5.3
6.3
6.9
6.9
7.6
8.8
8.7

5.2
6.9
7.8
7.6
8.6
10.0
9.8

1/1/75

1/29/75

3/5/75

4/2/75

9.3
11.2
13.5
12.3

10.7
13.9
12.4

4/30/75

5/28/75

17.2
14.2

13.9

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/ 1/75
1/29/75
3/ 5/75
4/ 2/75
4/30/75
5/28/75
7/ 2/75
7/30/75

4


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

7.8
9.1
8.5
9.7
11.5
10.9

11,7
10.1
11.2
13.0
12.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

i

1315.
JUN.
JUL

BILLIONS.

25
‘

293.7
293.5
295,3

5 19

S IT SI

JUN

JUL

14 29 11 25 9 23 6 20

AUG

SEP
197A

OCT

NOV

4 19 1

DEC

15 29 12 20 12 29

JAN

FEB

MAR

9 23

APR

7 21

MAY
1975

4 10

2 10 90 15 ZT

JUN

JUL

AUG

LATEST DATA PLOTTED WEEK ENDING: JULY 50, 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 NONBAMC PUBLIC.

COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDINGi
7/51/74

10/50/74

1/1/75

1/29/75

3/5/75

4/2/75

6.3
8.8
11.3
9.1

7.5
11.2
8.6

4/30/75

5/28/75

15.9
10.9

9.5

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
1/ 1/75
1/29/75
3/ 5/75
V 2/75
4/30/75
5/28/75
7/ 2/75
7/30/75


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

3.5
1.4
2,3
3.4
3.2
4.1
5,4
5.0

0.7
2.6
4.2
3.7
5.0
6.7
6.1

-0.4
3.1
2.7
4.8
7.1
6.2

9.4
6.8
8.5
10.4
8.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT
-n 13.5

I3.5 nr

13.0

13.0

12.5

12.5

12.0

12.0

11.5

11.5

11.0

11.0
PRIME BANK
LOAN RATE

10.5

10.5

10.0

10.0

9.5

9.5
BONDS

CORPORATE
9.0

9.0

8.5

8.5

8.0

8.0
7.5

MUNICIPAL
BONDS*#

7.5
7.0

7.0

6.5

6.5
6.Q

6.0

COMMERCIAL PAPER
5.5

5.5

5.0

5.0

4.5

4.5

0

7 21

3 19

JUN

JUL

2 16 SO 13 27 11 25

SEP

6 22

6 20

3 17 31

14 26 14 29 11 25

FEB

OCT

MAR

9 23

APR

6 20

1 18

JUN

JUL

1

15 29

1975
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* AUGUST 8,

1975
JUNE

6
13
20
27
JULY 4
11
18
25
AUG.
1
8 X
15
22
29

6

1975

90 DAY
CO'S XM

PRIME
COMMERCIAL
PAPER
4-6 MONTH

PRIME
BANKERS'
ACCEPTANCES

Aaa BONDS

CORPORATE

MUNICIPAL
BONDS*#

5.58
5.71
5.55
5.93
6.46
6.61
6.43
6.51
6.66
6.67

5.60
5.63
5.65
6.18
6.34
6.45
6.43
8.48
6.53
6.59

5.59
5.55
5.58
6.03
6.19
6.38
6.34
6.52
6.48
6,61

8.85
8.76
8.73
8.75
8.82
8.85
8.82
8.85
8.86
8.92

7.05
6.80
6.93
7.00
6.96
6.98
7.09
7.22
7.09
N.A.

X AVERAGES OF RATES AVAILABLE.
__
„ _______
HBK BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
__
w „____
WB# SEVEN-DAY AVERAGES OF SECONDARY MARKET RATES FOk THE WEEK ENDING WEDNESDAYTWODAYS
EARLIER THAN DATES SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE.
N.A. - NOT AVAILABLE
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS


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

0

SELECTED

SHORT-TERM

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT

-zi M.O
15.5
13.0

12.5
12.0
11.5

11.0
10.5

10.0

FEDERAL FUNDS RATE

9.5
9.0
8.5

8.0
7.5
7.0
6.5

DISCOUNT RATE

YIELD

6.0
5.5
5.0
4.5
s 19

JUN

Ml 90 IS 2T 11 29

JUL

SEP
1974

I 22

8 *0

OCT

9 11 91 14 M 14 21 11 29

FEB

MAR

0 25

APR

8 20
JUN

11*

I 19 a

0

JUL
1975
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. AUGUST 8, 1975

1975
JUNE

6
13
20
27
JULY 4
11
18
25
AUG.
1
8 X
15
22
29

FEDERAL
FUNDSm

3-MONTH
TREASURY
BILLS

1-YEAR
TREASURY
BILL

5-5 YEAR
GOVERNMENT
SECURITIES

LONG-TERM
GOVERNMENT
SECURITIES

5.24
5. 15
5.31
5.72
6.31
8.06
5.93
6.14
6.25
6.09

5.23
5.00
5.24
5.80
5.98
6.06
6.05
6.27
6.28
6.42

5.77
5.50
5.74
6.32
6.47
8.50
6.53
6.82
6.86
7.06

7.29
7.05
7.14
7.49
7.62
7.65
7.67
7.79
7.86
8.01

6.96
6.61
6.82
6.85
6.89
6.69
6.87
6.90
6.92
7.13

* AVERAGES OF RATES AVAILABLE.
** SEVEN-DAY AVERAGES FOR WEEKEND I NIG WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.9 RELEASE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

NET

ALL

TIME DEPOSITS

COMMERCIAL BANKS

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BiLLIONS OF DOLLARS

BILLIONS

of

dollars

BILLIONS
354.3
355.0
356.1
357.2
358.4

5 19

3 17 31

M 28 11 29

AUG

SEP

9 23

6 20

4 18

NOV

DEC

1

13 29 12 2B 12 26
FEB

9 23

7 21

4 16

2 ie 90 13 27

MAR

LATEST DATA PLOTTED WEEK ENDING. JULY SO. 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
K NET TIME DEPOSITS ARE DEFINED AS. SAVINGS DEPOSITS. TIME DEPOSITS OPEN ACCOUNT PLUS TIME
CERTIFICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME dERTIFICATES OF DEPOSIT ISSUED IN
DENOMINATIONS OF 8100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.

NET TIME DEPOSITS
COMPOUNDED AIWUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGi
7/31/74

10/30/74

7.6
8.9
9.7
10.1
10.2
10.7
11.7
11.9

9.3
10.6
11.0
11.0
11.6
12.9
13.0

1/1/75

1/29/75

3/5/75

4/2/75

11.9
13. 1
15.3
15.2

13.3
16.2
15.8

4/30/75

5/28/75

18.4
17.2

18.0

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
1/ 1/75
1/29/75
3/ 5/75
4/ 2/75
4/50/75
5/28/75
7/ 2/75
7/30/75

8


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

15.3
14.4
13.7
14.0
15.3
15.2

13.5
12.8
13.4
15.1
15.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

DEMAND

DEPOSIT COMPONENT OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

bill)oms of dollars

am25

JUN.

billions of dollars

aiiu.QNs.
223.4
222.7

222.0

223.9
223.4

221.8

5 19

3 17 51

14 28 11 25

AUG

SEP

9 25

6 20

4 18

NOV

DEC

1

15 29 12 26 12

FEB

9 25

7 21

4 18

2 18 90 13 27

MAR

LATEST DATA PLOTTED WEEK ENDING: JULY 30. 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING:
7/31/74

10/30/74

1.1
-1.5
-0.2
1.1
1.1
2.3
3.8
3.4

-2.2
0.3
2.2
2.1
3.6
5.6
4.9

1/1/75

1/29/75

3/5/75

4/2/75

6.2
8.7
11.5
9.0

7.4
11.5
8.4

4/30/75

5/28/73

16.4
10.7

9.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/ 1/75
1/29/75
3/ 5/75
4/ 2/75
4/30/75
5/28/75
7/ 2/75
7/30/75


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

-3.2
1.1
1.1
3.5
6.2
5.2

9.0
6.5
8.2
10.5
8.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

CERTIFICATES OF DEPOSIT

LARGE COMMERCIAL BANKS
WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
102
100
98
96
94
92
90

88
86
84
82
SO
78
76
74
72
70
5 19

3 17 31

14 28 II 25

AUG

SEP
1974

9 23

6 20

4 18

NOV

DEC

1

15 29 »2 26 12 28

FEB

9 23

7 21

4 18

2 18 90 13 27

MAR

LATEST DATA PLOTTED WEEK ENDING* JULY 30, 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
JUNE

4
11
18
25
JULY 2
9
16
23
30
AUG.
6
13
20
27

CERTIFICATES CERTIFICATES
OF DEPOSIT
OF DEPOSIT
NOT SEAS. ADJ. SEAS. ADJ.
83.1
82.9
82.3
81.7
81.7
81.4
81.2
81.2
81.5

83.9
84.1
84.1
84.2
84.2
83.6
82.9
81.7
80.6

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

IN THE NATION

AVERAGES OF DA ILY F IGURES

BILLIONS OF DOLLARS

billions of dollars

1315
JUL.

MILLIONS
2

871

■3
5 19

3 17 31 H 28 11 23
AUG SEP

9 23

A 20
NOV

4 18
DEC

LATEST DATA PLOTTED WEEK ENDING. AUGUST 6,

1 IS 29 12 26 12 26
FEB MAR

9 2S

4 18

o

2 16 SO 13 27

1975

BUSINESS LOANS
C COMMERCIAL
BILLIONS OF DOLLARS

AND

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
154
132

130
128
126
124
122

120
118
COMPOUNDED ANNUAL RATES
— OF CHANGE. AVERAGE OF ■
- THE FOUR *EEKS ENDING
JULY 30, 1975 I
THE FOUft WEEKS ENDING.

116
114

11.8
-13.0

-

112

JUN. 25

12.6

-

-13.7

110

-14.1

8.6

-

1974
I I I I....................
5 19

3 17 31

-3.5
I II 11

14 28 11 25

AUG

SEP

9 23

6 20

4 18

NOV

DEC

1

FEB

1974
LATEST DATA PLOTTED WEEK ENDING; JULY 30,


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

15 29 12 26 12 26

9 23

7 21

4 18

2 16 30 13 27

MAR
1975

1975
PREPARED 8Y FEDERAL RESERVE BANK OF ST. LOUIS

11

FIRST CLASS MAI
U. S. POSTAGE

PAID
RETURN POSTAGE GUARANTEED

PERMIT 444

FIRST CLASS HlfllL

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

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
530

COMPOUNDED ANNUAL BATES OF CHANCE
= AVERAGE OF THE FOUR WEEKS ENDING
MJ. I
- WEEKS ENDING:
CREDIT
CREDIT
PROXY
■EfiQXY.
AMiSIEft
—

= MAY
APR.
APR.
Z MAR
Z JAN.

520

1975
510

CREDIT PROXY ADJUSTED

1974
1974

- JUL.

1/
500

490

CREDIT PROXY

BILLIONS
CREDIT

CREDIT
PROXY

PROXY..

AfijySTEft

480

470

500.5
496.1
496.8
496.9

5 18

INI

3 17 31

14 28 11 25
AUG
SEP

9 23

6 20
NOV

4 18
DEC

1

15 29 12 26 12 26
FEB
MAR

1974
LATEST DATA PLOTTED WEEK ENDING: JULY 30.

9 23

7 21

4 It

505.4
504.6
506.3
505.9

2 16 30 13 27

1975
1975

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE.
1/ INCLUDES MEMBER BANK DEPOSITS. BANK-RELATED COfcMERC!AL PAPER, EURODOLLAR BORROWINGS OF
U.S. BANKS. AND CERTAIN OTHER NONDEPOSIT SOURCES.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

12


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

460

YTYTm

FEDERAL RESERVE BANK OF ST. LOUIS
P. 0. BOX 442
ST. LOUIS, MISSOURI 63166