Full text of U.S. Financial Data : Week Ending: December 1, 1971
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
Week ending: December 1, 1971 library MN 05 1979 The money stock of the nation has changed little in the last four months, rising at only a 0.5 percent annual rate. By comparison, money rose at an average 6.2 percent rate from the fourth quarter of 1966 to the third quarter of 1971. The two most recent periods when the money stock changed only slightly for a period of four months or longer occurred in 1969 and 1966. Money is defined to include private demand deposits and currency in the hands of the public. Growth in the monetary base, which underlies growth in the money stock, has also slowed markedly in recent months. In the past four months the base has risen at a 2.7 percent annual rate, down from the 11 percent rate of the previous seven months. Slower expansion of Federal Reserve credit, the major component of the base, has been the dominant factor in the recent slowing in the growth of the base. In the last four months Federal Reserve credit has increased at a 5.5 percent annual rate, after rising at a 15 percent rate in the previous seven months. Federal Reserve credit reflects primarily funds injected when the System purchases securities from the public; it also includes loans made to member banks by Federal Reserve Banks as well as a few minor transactions. Despite the less expansive growth of Federal Reserve credit, monetary base, and money, financial markets have had an easier tone. Interest rates on three month Treasury bills, for example, have declined from 5.40 percent in late July to about 4.35 percent recently. The lower market interest rates may re flect, in part, a downward revision of inflationary expectations by both lenders and borrowers. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Released: December 3,19/1 MONETARY BASE ^ FEDERAL RESERVE CREDIT*/ AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS _ COMPOUNDED ANNUAL RATES OF CHANCE, AVERAGE OF THE FOUR WEEKS ENDING —DECEMBER 1. 1971 FROM _ THE FOUR WEEKS END INGi - SEP. SEP. AUG. -----JUN. JUN. _ APR. MAR. 29, 1, -4, 30, 2, 28, 31, 1971 1971 1971 1971 1971 1971 1971 1.6 -4.0 2.7 MONETARY BASE 5.-4“ -4.9 6.0 6.3 1971 OCT. MILLIONS 27 1 89 78 _ COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING — DECEMBER 1, IE" ------THE FOUR WEEKS - SEP. SEP. AUG. -----JUN. JUN. _ APR. MAR. 29, 1, 4, 30, 2, 28, 31, 1971 1971 1971 1971 1971 1971 1971 76 FEDERAL RESERVE CREDIT 0.8 - . 5.5 10.1 8.9 9.6 9.7 74 72 70 1211 OCT. MILLIONS 27 66 4 18 OCT NOV 1970 2 16 30 13 27 10 24 10 24 JAN FEB 7 21 S 19 APR MAY 2 16 30 14 28 11 25 JUL 1971 8 22 6 20 3 17 AUG LATEST DATA PLOTTED WEEK ENDINGi DECEMBER 1. 1971 1/ USES OF MONETARY BASE .ARE MEMBER BANK RESERVES AND CURRENCY HELD BY THE PUBLIC AND NONMEMBF.R 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. FLOAT AND 1 ’OTHF.R' * ASSETS. .ADJUSTED FOR RESERVE REQUIREMENT CHANGES AND CHANGES IN REQUIREMENTS DUE TO SHIFTS IN DEPOSITS AMONG CLASSES OF BANKS. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 RESERVES ALL MEMBER BANKS IN THE NATION AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 33.0 IN I M IL BILLIONS OF DOLLARS 33.0 32.5 32.5 32.0 \t /V 30.0 X-A- A/Y -LULL 29.5 J "TTTT T T T T J ill 30.5 1 31 .0 "T 31.5 31.0 1 1 V T - \k 32.0 1 A J 31.5 f IIM T T T T - A/ jnr \t 29.0 30.5 30.0 29.5 29.0 -in OCT 111 ..mi 111 111 1111 NOV 1970 JAN FEB MAR DEC -L..1.L 111 APR LATEST DATA PLOTTED WEEK ENDING. DECEMBER 1. 1111 MAY JUN -LLL. III -L1J..L. 111 _LLL Mil’ JUL 1971 AUG SEP OCT NOV DEC 1971 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1971 OCT. NOV. DEC. billions 27 3 10 17 24 1 31.4 31.7 31.4 32.1 31.9 32. 1 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING DECEMBER 1. 1971 FROM THE FOUR WEEKS ENDING* SEP. SEP. AUG. JUN. JUN. APR. MAR. 29, 1, 4. 30, 2, 28, 31. 1971 1971 1971 1971 1971 1971 1971 -5.,3 2.,5 5.,0 4.,6 3..9 6.,6 5.,4 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS DEMAND DEPOSIT COMPONENT OF MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED billions of dollars billions of dollars BILLIONS 174.9 IT'S. 3 17-5. 1 174.9 III I l I I I 4 18 OCT 2 ie 30 13 27 10 24 10 24 NOV 1970 JAN FEB 7 21 5 19 APR MAY 2 16 SO 14 28 11 8 22 6 20 3 17 1 13 29 1971 LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 24, 1971 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 11/25/70 3/24/71 4/21/71 5/26/71 6/23/71 8.3 9.9 9.9 9.8 9.2 7.8 6.6 6.2 12.9 11.8 11.2 9.9 7.5 5.6 5. 1 13.6 12.3 10.3 7.4 5.3 4.8 9.4 7.9 4.7 2.8 2.6 7.2 3.3 1.3 1.4 7/21/71 8/25/71 9/22/71 TO THE AVERAGE OF FOUR WEEKS ENDING. 4/21/71 5/26/71 6/23/71 7/21/71 8/25/71 9/22/71 10/27/71 11/24/71 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0.7 -0.8 -0.3 -4.2 -2.5 -1.3 PREPARED BY FEDERAL RESERVE BANK OF ST. LOU’S MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 235 BILLIONS 227.0 227.6 227.2 227.2 227.4 227.9 230 225 220 215 210 7 21 4 18 OCT NOV 1970 2 16 30 IS 27 10 24 10 24 JAN FEB 7 21 3 19 2 16 30 14 28 11 APR MAY JUL 1971 AUG 8 22 SEP 6 20 S IT OCT NOV 1 19 29 LATEST DATA PLOTTED WEEK ENDING, NOVEMBER 24. 1971 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE, 11/25/70 AVERAGE OF FOUR WEEKS ENDING, 3/24/71 4/21/71 5/26/71 6/23/71 7/21/71 8/25/71 9/22/71 12.2 11.2 11.1 9.7 7.7 6.1 5.5 12. 1 11.7 9.9 7.4 5.7 5.1 10.0 8. 1 5.4 3.7 3.3 7.7 4.3 2.6 2.3 1.5 0.3 0.5 -2.3 -1.2 -0.5 TO THE AVERAGE OF FOUR WEEKS ENDING, 4/21/71 5/26/71 6/23/71 7/21/71 8/25/71 9/22/71 10/27/71 11/24/71 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8.6 9.7 9.6 9.8 9.2 8.0 6.9 6.5 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS TIME DEPOSITS ALL commercial banks AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 270 p------- ---------- -------- BILLIONS OF DOLLARS ----- ---------- ---------- -1 270 TOTAL TIME DEPOSITS NET TIME DEPOSITS* 7 21 4 18 OCT NOV 1970 2 16 SO 13 27 10 24 10 24 JAN FEB 7 21 5 19 APR MAY 2 16 30 14 28 11 25 8 22 6 20 3 IT OCT NOV 1 15 28 LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 24, 1971 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE, * NET TIME DEPOSITS ARE DEFINED AS. SAVINGS‘DEPOSITS, TIlC.DEPOSITS OPENI ACCOUNT.PLUS TIME CERTIFICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME CERT IFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BAM<S. NET TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGs 11 /25/70 3/24/71 4/21/71 5/26/71 6/23/71 7/21/71 8/25/71 9/22/71 25.9 23.3 21.8 20. 1 17.6 16.6 16.3 16,1 17. 1 15.8 13.9 1 1.0 10.5 10.9 11.3 13.0 11.4 8.6 8.5 9.3 10.0 10.4 7.0 7.2 8.5 9.4 4.5 5.5 7.5 8.7 4.4 7.4 8.9 10.7 P.8 13.7 TO THE AVERAGE OF FOUR WEEKS ENDING. 4/21/71 5/26/71 6/23/71 7/21/71 8/25/71 9/22/71 10/27/71 11/24/71 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK PLUS TIME DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 490 MONEY STOCK PLUS TOTAL TI'HE DEPOSITS 480 = 470 460 450 440 MONEY STOCK PLUS NET TIME DEPOSITS MK 430 4 18 OCT 2 18 90 13 27 10 24 10 24 NOV 1970 JAN FEB 7 21 9 19 APR MAY 2 10 30 14 28 11 25 8 22 0 20 3 17 OCT NOV 1 = 420 = 410 15 29 1971 LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 24, 1971 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. »*M* IS DEFINED AS: CURRENCY, DEMAND DEPOSITS PLUS NET TIME DEPOSITS (SEE PACE 6). MONEY STOCK PLUS NET TIME DEPOSITS (M2) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 11/25/70 3/24/71 4/21/71 5/26/71 6/23/71 7/21/71 8/25/71 9/22/71 16.7 16.2 15.5 14.7 13.2 12. 1 11.4 11.1 14.4 13.4 12.4 10.3 9.0 8.5 8.4 12.5 11.5 9.2 7.9 7.5 7.5 10.2 7.6 6.2 6.1 6.3 6. 1 4.8 5.0 5.5 2.8 3.8 4.7 4.0 5.1 6.5 TO THE AVERAGE OF FOUR WEEKS ENDINGi 4/21/71 5/28/71 6/23/71 7/21/71 8/25/71 9/22/71 10/27/71 11/24/71 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS WEDNESDAY FIGURES SEASONALLY ADJUSTED billions of dollars BILLIONS OF DOLLARS 36 34 32 30 28 26 24 22 4 18 2 1« 30 13 27 10 24 10 24 JAN 7 21 3 19 2 16 30 14 28 11 25 8 22 FEB 1970 6 20 3 17 OCT NOV 1 13 29 1971 LATEST DATA PLOTTED WEEK ENOINGj NOVEMBER 24, 1971 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.* http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MONEY AND TIMt DEPOSIT DATA CERTIFICATES OF DEPOSIT 1971 OCT. NOV. DEC. 6 13 20 27 3 10 17 24 1 8 15 22 29 32.7 32.9 32.9 32.7 32. 1 31.8 32. 1 32.2 BILLIONS NET TIME DEPOS1TS 229.6 229.8 230.7 231.2 231.5 232.2 233. 1 233.8 m M2 MK 456.5 457.0 457.7 458.8 458.8 459.4 460.5 461.7 * SEE FOOTNOTE PAGE 6. *8 SEE FOOTNOTE PAGE 7. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 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 4 18 OCT NOV 16 90 19 27 10 Z* 10 24 JAN FEB 7 21 9 19 APR MAY 2 16 90 14 28 11 25 1970 8 22 6 20 9 17 OCT NOV 1 19 29 1971 LATEST DATA PLOTTED WEEK ENDINGj NOVEMBER 24, CURRENT DATA APPEAR 'N THE BOARD OF GOVERNORS' 1971 H.9 RELEASE. V INCLUDES MEMBER BANK DEPOSITS, BANK-RELATED COMCRCIAL PAPER, EURODOLLAR BORROWINGS OF U.S. BANKS, AND CERTAIN OTHER NONDEPOSIT SOURCES. billions iazi rnoxY CRED1T PROXY ADJUSTED 349.8 3S0.6 352.7 352.3 352.8 352.7 354.9 355.6 357.7 357.4 358.3 358.4 CRED!T OCT. NOV. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 20 27 3 10 17 24 COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF THE FOUR WEEKS ENDING NOVEMBER 24. 1971 FROM THE FOUR WEEKS ENDINGt CRED1T CRED!T PROXY -EBffitt. ADJUSTED SEP. AUG. JUL. JUN. MAY APR. MAR. 22, 25, 21. 23, 26, 21, 24, 1971 1971 1971 1971 1971 1971 1971 4.9 7.4 8.7 8.0 8.0 8.3 9.1 7.4 9. 1 9.3 8.7 8.7 8.0 8.0 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY per cent CORPORATE Aaa BONOS MUNICI BONDS** :rcial PRIME LOAN DISCOUNT RATE THREE-MONTH TREASURY BILL MARKET YIELD 2 16 SC 15 27 11 25 NOV 8 22 DEC 3 10 5 10 FEB MAR 2 16 50 14 26 II 25 MAY I 0 23 JUN AUG 15 20 12 26 10 24 SEP LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENOINGi DECEMBER 3, 1971 1971 OCT. 1 8 15 22 29 NOV. 5 12 19 26 DEC. 3 K 10 17 24 31 CORPORATE Aaa BONDS 3-MONTH TREASURY BILLS 3-5 YEAR G0VERM4ENT SECURITIES LONG-TERM GOVERNMENT SECURITIES MUNICIPAL BONOS x* 7.46 7.44 7.42 7.37 7.31 7.25 7.24 7.27 7.28 7.28 4.65 4.51 4.45 4.47 4.36 4.18 4.18 4.15 4.33 4.34 5.91 5.84 5.68 5.62 5.53 5.41 5.47 5.47 5.63 5.57 5.52 5.47 5.44 5.47 5.43 5.33 5.37 5.46 5.56 5.57 5.24 5.17 4.99 4.97 5. 1 1 4.99 5.19 5.25 5.36 N. A. **ABONOGQUYER' SAAVERAGE''l NOEX‘ OF 20 MUNICIPAL BONDS, THURSDAY DATA. N.A. - NOT AVAILABLE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS f 11 SELECTED SHORT-TERM INTEREST RATES AVERAGES OF DAILY RATES ENDED FRIDAY PgR CENT PER CENT COMMERCIAL PAPER 4-T0-6 MONTH FEDERAL FUNDS RATE 1111 2 16 30 13 27 11 25 NOV 1970 8 22 DEC 5 19 5 19 FEB MAR 2 16 30 14 2« 11 29 9 25 6 20 3 17 1 15 29 12 26 10 24 1971 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi DECEMBER 3, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1971 OCT. 1 8 15 22 29 NOV. 5 12 19 26 DEC. 3 * 10 17 24 31 PRIME COMMERCIAL PAPER 4-6 MONTH FEDERAL FUNDS PRIME BANKERS' ACCEPTANCES 90 DAY CD'S KK 5.75 5.75 5.63 5.45 5.25 5.03 4.88 4.93 4.88 4.88 5.35 5.25 5.35 4.98 5.25 5.13 4.83 4.85 5.00 4.41 5.40 5.23 5.03 4.98 4.88 4.78 4.75 4.75 4.82 4.79 5.62 5.53 5.44 5.29 5.18 4.99 4.91 4.88 4.89 4.89 1971 * AVERAGES OF RATES AVAlLABLF. FEDERAL FUNDS LAST FIVE DAYS AVAILABLE HBK DATA ARF. SECONDARY MARKET RATES, WEEKLY AVERAGES ENDING WEDNESDAY TWO DAYS EARLIER. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS BORROWINGS AND EXCESS RESERVES ALL MEMBER BANKS IN THE NATION AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS BILLIONS OF DOLLARS —I-------------------- 1.6 ------- -------- ----- 1.6 BORROWINGS' EXCESS RESERVES -0.4 0.8 0.8 - - NET FREE RESERVES -1.6 4 18 OCT NOV 1970 2 16 30 13 27 10 24 10 24 DEC JAN FEB MAR 7 21 5 19 APR MAY 2 16 30 14 28 11 25 JUN JUL 1971 AUG 8 22 SEP 8 20 3 17 OCT NOV 1 13 29 DEC LATEST DATA PLOTTED WEEK ENDINGi DECEMBER 1, 1971 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MILLIONS 1971 OCT. 6 13 £0 27 NOV. 3 10 17 24 DF.C. 1 8 15 22 29 EXCESS RESERVES 214 49 210 51 396 19 246 195 558 BORROWINGS 309 449 332 413 216 '22 289 539 701 FREE RESERVES - 95 400 122 362 180 103 43 344 143 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 1.6 -