Full text of U.S. Financial Data : Week Ending: February 11, 1970

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

u.s.WeeknnonciAL
data
ending: February 11, 1970
library

Ihe money stock and its demand deposit com­
ponent have remained unchanged on balance since early
June (pages 4 and 5). A large increase in demand
deposits near the end of December, which was also
reflected in the money stock, was apparently temporary.
The past eight months of essentially no growth in money
were preceded by five months of growth at a 4 per cent
annual rate, and before that, two years at a 7.3 per
cent rate.
Most market interest rates have declined
somewhat since early January, after rising rapidly in
November and December (pages 10 and 11). Yields on
prime four- to six-month commercial paper averaged
8.63 per cent in the three days ending February 11,
up from the 8.56 per cent average last October. Yields
on long-term Government bonds averaged 6.51 per cent
in the three days ending February 11, up from 6.27
per cent in October. Yields on highest-grade seasoned
corporate bonds remained on a plateau near 7.90 per
cent throughout January, and averaged 7.97 per cent
in the first part of February. In October, yields on
these bonds averaged 7.33 per cent.


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

Time deposits at commercial banks have
declined at a 3.5 per cent annual rate in the last
three months and more sharply since Christmas (page 6).
The maximum interest rates banks are permitted to pay
for funds, although increased slightly effective
January 21, remain below comparable market rates,
and disintermediation has continued at a rapid pace.
^e highest rate now permitted on bank savings accounts
is 4.5 per cent, and the highest rate on certificates
of less than $100,000 is 5.75 per cent. The rate
on three-month Treasury bills, which has fallen sharply
m the last two weeks, averaged 7.28 per cent in the
three days ending February 11, which is 7.52 per cent
on a bond-yield equivalent basis.
Business loans at large commercial banks
hrVin5eC^ined’ followin8 a large increase near the end
of 1969 (page 9). On balance, these loans have increased
at a 1.4 per cent annual rate in the last three months,
compared with a 5.2 per cent rate from June to October
and a 10.4 per cent average rate in the previous
two and one-half years.

Rates of change reported in this release are
intended to serve as summaries which may be
useful in analyzing recent developments.
Prepared by Federal Reserve Bank of St. Louis

Released: February 13,1970

2

Billions of Dollars

Annual rates of change, average of
four weeks ending Feb. 11, 1970 from
four weeks ending:
Monetary
Credit
Base
Nov. 12, 1969
Aug. 13, 1969
May 14, 1969
Feb. 12, 1969

MONETARY BASE LL
FEDERAL RESERVE CREDIT [2
Averages of Daily Figures

Billions of Dollars

Seasonally adjusted by this bank

Monetary 7f, JSo

June 11, 1969
1957-1969

Monetary

" 1/ Uses of the monetary base are member bank
_
reserves and currency held by the public
- and nonmember banks, adjusted for reserve
requirement changes and shifts in deposits.
I For a description of the base see the August
- 1968 Review of this bank.

Federal Reserve Credit

F.R. Credit
ito. > O
d”, J 4a 1

2/

Latest data preliminary
Latest data plotted week ending:
8 22
Jan.


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

5 19
Feb.

5
19
Mar.

2

Defined to include holdings of securities,
loans, float, and "other" assets, adjusted
---for reserve requirement changes and changes in---requirements due to shifts in deposits among
classes of banks.
___

Feb. 11, 1970

16 30 14 28
Apr.
May

11 25
June

9 23
July
1969

6 20 3
Aug.
Si

_
29 13

Apr.
1970
Prepared by Federal Reserve Bank of St. Louis

27

10 24

62

Billions of Dollars

Annual rates of change, average of four weeks
ending Feb. 11, 1970 from four weeks ending:

RESERVES
All Member Banks in the Nation
Averages of Daily Figures
Seasonally Adjusted

Billions

nl1ars

30.0

.Nov. 12, 1969
r May 14, 1969
Feb. 12, 1969

-3. 3

June 11, 1969

- V./

29.5

29.0

28.5

TOTAL
28.0

28.0

27.5

27.0

27.0

26.5
Series adjusted by the Board of Governors
to reflect changes in reserve requirements.
For comparability, back data have been re­
vised due to the change in Regulation D effec­
tive July 31, 1969 requiring member banks to
include all "bills payable checks" and so-called
"London checks" as deposits subject to reserve
requirements.

26.0
mo

25.5

Data exclude increase in required reserves of
about $400 million due to changes in Regulations
M and D effective Oct. 16, 1969.

Latest data preliminary
Latest data plotted
1 *1 | 1 1


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

25.0

Current data including required reserves
due to changes in Regulations M and D effective
October 16, 1969 appear in the Board's H. 9 release.

F eb. i1, 1970

24.5
0

16 30 14 23
Apr.
1-iav

11 25
June

9

23
July
1969

3

17

.Sept.

1

15

29 13

Apr.

27 10

May

24

June

Prepared by Federal Reserve Bank of St. Louis

4

DEMAND DEPOSIT COMPONENT OF MONEY STOCK

of Dollars

Averages of Daily Figures
Seasonally Adjusted

171
170
Annual rates of change, average of four weeks
ending Feb. 4, 1970 from four weeks ending:

169
168

Nov. 5, 1969
- Aug. 6, 1969
May 7, 1969

167
166
165

June 11, 1969

164

—

a.I

Dec. 25 - June 11

163
162

1957-1

161
160
159
158
157
156
155
154
153
152
151
150
149
148
147
146

/S3..8

p_

145
144
143

Current data appear in the Board's H.6 release.

142
141
0

Latest data preliminary
Latest data plotted week ending:
i-l I I I 1

8

22
•Tan.


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

5

1 I.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.
.I I

19
Fe’ .

5 19
Mar.

2

16 30
Apr.

---Feb. 4, 1970

I II I I

14 28
Hay

l I

1 I I I I I I I I I I

11 2 5 9 23
June
July
1969

6 20
Aug.

3

'

17
Sept

15 29
Oct.

12 26 10 24 7
21
Nov.
Dec. Jan.

4 18
Feb.

4
18
Mar.

1

15 29
Apr.
1970

13 27
May

Prepared by Federal Reserve Bank of St. Louis

10 24
June

8
22
July

Sillii

MONEY STOCK
Averages of Daily Figures
Seasonally Adj

of Dollars

215

Billions of Dollars

214
213

Annual rates of change, average of four weeks
ending Feb. 4, 1970 from four weeks ending:

212
211
210
209
208
207
206

Nov.
Aug.
May
Feb.

5,
6,
7,
5,

1969
1969
1969
1969

June 11, 1969
Dec. 25 - June 11
1957-1969

205
204
203

202
201
200
199
198
197
196
195
194
193
192

mo

191

c=?0<9.5

7

/
oJO A 7

190
-J. C-4

189

V

/??■ JL

i<n.t

p

188
187
186
185
0 '

Current data appear in the Board's H.6 release.
I I I
Latest data preliminary
Latest data plotted week ending:
i—i—i—I—i—i—i—t-J—i—i—i—i—i—i—i—i__ i__ '


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

16

30

Feb. 4, 1970
i

'

14 28

i

i

i

i—J—...............................................

11 25
June
1969

3 17
Sept.

1

15 29 12 26
Oct.
Nov

10 24
Dec.

7 21 4 18
Jan. Feb.

4 18
Mar.

1

15 29
Apr.
1970

13 27
May

Prepared by Federal Reserve Bank of St. Louis

10 24
June

8 22
July

TIME DEPOSITS
All Commercial Banks
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars
234
232

Annual rates of change, average of four weeks
ending Feb. 4, 1970 from four weeks ending:

230
228

Nov. 5, 1969

226
224

------- May 7, 1969
Feb. 5, 1969

222

1957-1969

220
218
216
214

212
210
208
206
204
202
200
198
196
194
192
190
188
186
184
182
180
178
H.6 release.
I

l

i

i

i

i

i

i

i

i

i

i

i

i

i

i

i

Latest data preliminary
Latest data plotted week ending:
8

22


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

19
.

5

19
Mar.

2

176

i

16 30 14 28
Apr.
May

174

Feb. 4, 1970
11 25 9 23
June
July
1969

6 20
Aug.

3

17
Sept

1

15

29 12

26

10 24
Dec.

7

21
Jan.

4

18

4

18

15

29

13

1970

Prepared by Federal Reserve Bank of St. Louis

27 10 24
June

8

22
July

0

Bill!

MONEY STOCK PLUS TIME DEPOSITS
Averages of Daily Figures
Seasonally Adjusted

of Dollars

432

Billions o

Doll
432

430
430

Annual rates of change, average of four week
ending Feb. 4, 1970 from four weeks ending:

428

428

426
Nov.
Aug.
May
Feb.

424
422
420

5,
6,
7,
5,

426

1969
1969
1969
1969

424
— =?.vS‘

422
420

June 11, 1969

418

-3.O.
418

416
416
414
414
412
412
410
410
408
408
406
406
404
404
402
402
400
400
398
398
396
396
394
394
392
392
390
390
388
388
386

mo

384

39 S. f

386
384

382
382
380
380
378
378
376

Current data appear in the Board's H.6 release.

374

~f 1 I I

372

Latest Data Preliminary
Eatest Data Plotted Week Ending:

0 ~

I

I I I I I I I I I

I I I I

22
an.

5

I I

19
Feb.


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

I

5

I I I I I

19
Mar.

2

I I I I

I

I I I

16 30
Apr.

376

l -t

374
Feb. 4, 1970

372

M_________________ ___

14 28 11 25
May
June

9 23
July
1969

3

17 1
Sept.

15

29 12

26

10 24

7

21

4

18

4 18
Mar.

1

15 29 13 27 10 24
Apr.
May
June
1970

Prepared by Federal Reserve Bank of St. Louis

22
July

r

0

8

CERTIFICATES OF DEPOSIT Li

Large Commercial Banks
Wednesday Figures

Billions of Dollars

Billions of Dollars

Annual rates of change, data not seasonally
adjusted, average of four weeks ending
------ Feb. 4, 1970 from four weeks ending:
Nov. 5, 1969

Feb. 5, 1969
1964-1969

Millions of
niO Qtml
" li
jl

Dollars
/O, 7JS
/O.SJO
/o, VA7

o!f

----- Current and year ago data appear in the
----- Board's H. 4. 2. release.
U Negotiable time certificates of deposit
in denominations of $100, 000 or more.
I

I I

I

!

I I

I

!

I I

I

I

I

Latest data preliminary
r
Latest data plotted:
8

22
Jan.

5

19


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

5

19
Mar.

2

I I

I

1 I

1

I

! I

1

1

„ ,
.
___
Feb. 4, 1970

16 30 14 28
Apr.
May

11 25
June

9

23
July
1969 '

6

20
Aug.

3

17
Sept.

1

15 29
Oct.

12 26 10 24
Nov.
Dec.

7

21
Jan.

4

18
Feb.

4

18
Mar.

1

15 29
Apr.
1970

13 27 10 24
May
June

Prepared by Federal Reserve Bank of St. Louis

8 22
July

ill

BUSINESS LOANS
Large Commercial Banks
Wednesday Fiqures

is of Dollars

Billions of Dollars

Seasonally adjusted by this bank
88

88

Annual rates of change, average of four weeks
ending Feb. 4, 1970 from four weeks ending:
86

Nov.
Aug.
May
Feb.

5,
6,
7,
5,

1969
1969
1969
1969

86

-h +.8

84

84

1960-1969

82

82

80

80

78

78

76

76

74

74

72

1970

MILLIONS OF DOLLARS
SEASONALLY
UNADJUSTED ADJUSTED
7 9,9/8
79, /S3
78,27*
78,/A3
72, 3? J p

/970
70

7 9, /SO
78, 8 S3
79,3 r A.
78, 2/7
79, ASXP

68

70

68

66

0

72

66
Latest data preliminary
Latest data plotted:
Feb. 4, 1970
I I I I I I I I 1 1 1 1 1 1 1 1 i 1 ......................
8 22 5 19
2 16 30 14 28 11 25 9 23
Jan.
Feb.
Apr.
May
June
July
1969


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

6' 20
Aug.

15 29
Oct.

12 26
Nov.

10 24
Dec.

7

21
Jan.

4

18
Feb.

1

15 29 13 27
Apr.
May
1970

Prepared by Federal Reserve Bank of St. Louis

10 24
June

8

22
July

0

11
YIELDS ON SELECTED SECURITIES
Averages of Daily Rates Ended Friday

9
Prime Commercial
Loan Rate

8

Three-Month Tre,
Bill Market Yield

8

17.9 7

___ Corporate
__ Aaa Bonds

7

7

6,
Long- Term
Government Bonds
6.

Discount Rate

'

5.
3-Month
Treasury
Bill
OSL

Corporate

3-5 Year

7.9/

5.

7/=2.
7. <P J
Id

4.

7.r?

7.4,/
7-

4.

3.

0

■M I I
Latest data plotted are averages of rates available for the week ending: Feb. 13, 1970
-L. I I
10 24
Jan.

Mar.

OF RATES AVAILABLE

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

June

July
1969

Aug.

Sept.

Dec.

Jan.

20
■b.

6 20 3
17
Mar. Apr.
1970

1

15 29 12 26
May
June

Prepared by Federal Reserve Bank of St. Louis

10 24 .
July

11
SELECTED SHORT-TERM INTEREST RATES
Averages of Daily Rates Ended Friday

Per Cent

Per Cent

11.00

11.00

10. 50

10.50

10.00

10.00
Federal Funds Rate
Commercial Paper
4-to-6 Month

9.50

9.00

8.50

8.50

<

Acceptances
8.00

8.00

1970
7.50-

Prime
commercial
Paper
. 4rfL Month
9.oo

Prime
Bankers
Acceptance

Federal
Funds

90 Day

9. Of

7.50

g. 70

t. 7S
S'. 70

s. ss
S’, so

7.00

??. yo
3S
6.50

6.00
Discount Rate
5.50

Latest data plotted are averages of rates available for the week ending:
10 24 7 21
Jan.
Feb.

J__1__1__I__I__L_I__ L_c

7 21
Mar.

4 18' 2
Apr.

I

16 30
May

13 27
June

11 25
July
1969

I

I

5.00

Feb. i3, 1970

I__ LJ__ I__ l

I

'

I

I

'

8
22 5
19 3
17 31 14 28
Aug.
Sept.
Oct.
Nov.

I

I

0

I I

12 26
Dec.

9 23
Jan.

6 20
Feb.

6

20

3

17

1

15

1970

*AVERAGES OF RATES AVAILABLE; FEDERAL FUNDS LAST FIVE DAYS AVAILABLE


** SOURCE: SALOMON BROTHERS AND HUTZLER
http://fraser.stlouisfed.org
SECONDARY MARKET RATE ON 90-DAY PRIME CD'S
Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

29 12 26
June

10

24

12

BORROWINGS AND EXCESS RESERVES

All MemberBanks in the Nation
Avera gtfs of Daily Figures

Millions of Dollars

3,200
EXCESS
RESERVES

3,000
2,800

BORROWINGS

Millions of Dollars

3,200

FREE
RESERVES

3,000

me ^

2,800

2,600

2,600

2,400
2,200

2,200

2,000

1,800

1,800
Borrowings

1,600
1,400

1,400

1,200

1,200

1,000

Excess Reser

1,000

1,000

1,200
Net Free Reserves

1,400
1,600

2,000

2,000

2,200

2,200

2,400

2,400

■2,600
2,800

2,600
Latest data preliminary
Latest data plotted week ending

3,000


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

3,000
15 29

Prepared by Federal Reserve r,,nk of St.

13

I,on i s

2

10 24
June