Full text of U.S. Financial Data : Week Ending: February 18, 1976

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

u.

Week ending: February 18, 1976

library

DEC 2 6 1979


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

Data for the monetary base and Federal Reserve credit
have been revised by this Bank to incorporate revised seasonal
adjustment factors. All data for these series are on the revised
basis in this release. The revision had only very small effects
on the levels and growth rates of the monetary base and Federal
Reserve credit. Generally, the revision tended to lower the
levels of the monetary base over the past year. The growth rate
of the monetary base was lowered slightly over the six months
ended February 11. The revised data indicate growth at a 5.9
percent rate, compared to a 6.2 percent rate using unrevised
data. In the previous six months the monetary base increased at
a 7.5 percent rate. This is slightly faster than the 7.3 percent
rate computed with unrevised data. The revision also lowered
slightly the levels of Federal Reserve credit over the last year.
The growth rate of Federal Reserve credit was increased over the
most recent six months and decreased over the previous six months
as a result of the revision.
An increase in the monetary base can be used either as
currency or as reserves to support demand, time, or Government
deposits. Currency has increased, on balance, over the year at
an 8.8 percent rate. Since early November, while growth of the
monetary base has slowed,
currency has increased at abouta 9
percent rate, compared to
an 8.7 percent rate in the previous
nine months. In contrast, demand deposits have decreased at a
0.4 percent rate in the most recent three months, compared to 5.2
percent rate of increase in the previous nine months.
Total time deposits have increased at an 8.6 percent
rate over the most recent
three months, compared to a 5.6percent
rate over the previous nine months. A breakdown of total time
deposits into large certificates of deposit (CDs) and net time
deposits (total time deposits minus large CDs) reveals sharp
contrast between the growth patterns of these two components of
total time deposits. CDs have decreased by over $8 billion over
the last three months, with most of the decrease occurring in the
last six weeks. On the other hand, since early November net time
deposits have increased at a 15.2 percent rate. This was
slightly higher than the 12 percent rate, which was registered
during the previous nine months.

Prepared by Federal Reserve Bank of St. Louis
Released: February 20, 1976

MONETARY BASE

AVERAGES OF DAILY FIGURES
BILLIONS OF DOLLARS

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
124

MILLIONS
JAN.

4 IS

1

14

15 19 II I« II IS

FEB

MAR

9 IS

7 II

4

MAY

JUN

M

Ml H 13 2T 10 24

AUG

a It

5

19

9

17 SI

14 18 11

IS

SEP

LATEST DATA PLOTTED WEEK ENDINCi FEBRUARY 18, 1976
THE MONETARY BASE CONSISTS OF MEMBER BANK RESERVES AT THE FEDERAL RESERVE BANKS AND CURRENCY
N 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.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
2/19/75

5/21/75

7/16/75

8/20/75

8.9
7.4
7.6
7.0
7.3
7.9
6.5
7.0

9.6
9.4
8.0
8.2
9.0
7.0
7.5

4.8
4. 1
5.5
6.9
4.7
5.7

5.6
7.0
8.6
5.4
6.5

9/17/75 10/15/75 11/19/75 12/17/75

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
7/16/75
8/20/75
9/17/75
10/15/75
11/19/75
12/17/75
1/21/76
2/18/76

2


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

6. 1
8.4
4.7
6. 1

11.2
5.4
6.9

3.3
6.1

2.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

RATIO

RATIO

MULTI PLIER

1216.

LATEST DATA PLOTTED WEEK ENDING* FEBRUARY 11,

BAUfl

—

2.3

—

2.2

1978

BILLIONS OF DOLLARS
114
COMPOUNDED ANNUAL RATES
___OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING
- FEBRUARY 18, 1976 FROM
THE FOUR WEEKS ENDING,
'DEC. 17, 1975 21.6
—
1975 M.4
OCT. 15
1975 12.7
— SEP. 17
1975 18.4
1975 21.4
MAY
21, 1975
8.3
FEB. 19, 1975 12.8

H2

110

FEDERAL RESERVE CREDIT

108

106

104

102
1276.

MILLIONS

100
98

4 te

1 IS 29 12 26 12 26
FEB
MAR

9 25

7 *1
MAY

4 18 2 16 50 15 27 10 24
JUN
AUG
SEP
1975

LATEST DATA PLOTTED WEEK ENDING, FEBRUARY 18,

6 22

5 19

3 17 31

14 28
JAN

11

23

FEB

1976

1976

1/ RATIO OF MONEY STOCK (Ml ) / MONETARY BASE.
2/ PLFINED TO INCLUDE HOLDINGS OF SECURITIES, LOANS, FLOAT AND '* OTHER'* ASSETS, ADJUSTED
FOR RESERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE SAME TYPE OF DEPOSIT^ BETWEEN
g^2.!f1KLD,FFERENT RESERVE REQUIREMENT RATIOS APPLY!
DATA ARE SEASONALLY ADJUSTED
“Y

TnIS

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

BILLIONS OF DOLLARS

bill sons

of

dollars

880
675

666.2
668.0

670

669.3
670.7

665

— FEB

660
655
650
645
640
635
630
625
620
615
610

4 13

1 15 29 12 HI 12 26
FEB

MAR

9 23

7 SI

4 IS

MAY

JUN

2 ie 90 13 27 10 24
AUG

6 22

5 19

3 17

SEP

14 23 11 29
JAN
FEB

LATEST DATA PLOTTED WEEK ENDINGi FEBRUARY 11, 1976
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*

2/12/75

5/14/75

7/9/75

8/13/75

9/10/75

11.9
11.0
10.5
9.5
9.2
9.3
8.8
9.2

13.0
11.6
9.8
9.3
9.4
8.7
9.3

7.3
5.7
6.2
6.9
6.4
7.4

4.7
5.8
6.8
6.2
7.4

5.2
6.7
6.0
7.5

10/8/75 11/12/75 12/10/75

TO THE AVERAGE
OF FOUR WEEKS
ENDING*
7/ 9/75
8/13/75
9/10/75
10/ S/75
11/12/75
12/10/75
1/14/76
2/11/78

4


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

8.7
7.1
8.7

6.8
9.1

8.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0

MONEY STOCK

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

billions

OF DOLLARS

295.0
295.3
294.5
296.5
296.7

4 ie

1

15 29 12 26 12 26

FEB

MAR

9 25

7 21

4 l«

MAY

JUN
1975

1974

2 16 90 15 27 10 24

AUG

• 22

5 16

9 17 *1

SEP

14 16 II 29

JAN
FEB
1976

LATEST DATA PLOTTED WEEK ENDING, FEBRUARY 11, 1976
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
THE MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AM) COIN HELD BY THE NONBANK PUBLIC.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING,
2/12/75

5/14/75

7/9/75

8/13/75

9/10/75

8.7
7.5
7.8
6.4
6. 1
5.9
5.2
5.0

9.4
9.5
6.8
6.3
6.0
5. 1
4.8

5.7
2.6
3.0
3.3
2.6
2.6

2.7
3.2
3.5
2.6
2.6

0.4
1.6
1.1
1.4

10/8/75 11/12/75 12/10/75

TO THE AVERAGE
OF FOUR WEEKS
ENDING,
7/ 9/75
8/13/75
9/10/75
10/ 8/75
11/12/75
12/10/75
1/14/76
2/11/76


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

4.2
2.6
2.6

1.8
2.1

1.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT
11.5

11.0
10.5

10.0
9.5
CORPORATE Aaa BONDS

9.0
8.5

RIME BANK
PAN RATE

8.0
7.5

MUNICIPAL
BONDSm

7.0
6.5
6.0

COMMERCIAL PAPER
5.5
5.0
4.5
4.0

6 20

3 17 31

14 28 14 26 II

FEB

MAR

APR

25

9 23

4 18

6 20

JUN

1

15 29 12 26 10 24

JUL

7 21

5 19

NOV

DEC

2 16 30 19 27

1976
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi FEBRUARY 20, 1976

1976
DEC.

JAN.

FEB.

6

5
12
19
26
2
9
16
23
30
6
13
20 X
27

90 DAY
CD'S aeec

PRIME
COMMERCIAL
PAPER
4-6 MONTH

PRIME
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

MUNICIPAL
BONDS ME

6.35
6.32
6.10
5.78
5.68
5.51
5.13
5.10
5.02
5.00
5.21
5.21

5.98
6.03
6.03
5.94
5.81
5.40
5.23
5.23
5.13
5. 15
5.25
5.25

5.80
5.81
5.72
5.65
5.52
5.25
5.04
5.01
4.94
4.95
4.97
5.01

8.83
8.86
8.81
8.72
8.66
8.63
8.60
8.58
8.57
8.56
8.57
8.57

7.31
7.34
7.30
7.30
7.29
7.13
7.09
7.01
6.85
6.86
6.95
N.A.

K AVERAGES OF RATES AVAILABLE.
„ _
m
K BOND
BUYER'S
AVERAGE OFINDEX
OF 20 MUNICIPAL
BONDS.
Saf
SEVEN-DAY
AVERAGES
SECONDARY
MARKET RATES
FOft THURSDAY
THE WEEK DATA.
ENDING WEDNESDAY TWO DAYS
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
10.5

10.0
9.5
9.0
FEDERAL FUNDS RATE

8.5

8.0
7.5
7.0
THREE-MONTH TREASURY
BILL MARKET YIELD

6.5

DISCOUNT RATE

6.0
5.5
5.0
“4.5
4.0
3.5

6 20

3 17 51

14 26 14 28 11

FEB

MAR

APR

1974

25

9 23

6 20

4 16

JUN

JUL

1

15 29 12 26 10 24

7 21
NOV

5 19
DEC

1975

2 16 30 15 27
1976

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* FEBRUARY 20,

1976
DEC.

5
12
19
26
JAN.
2
9
16
23
30
FEB.
6
13
20 X
27

1976

FEDERAL
FUNDS kk

3-MONTH
TREASURY
BILLS

1-YEAR
TREASURY
BILL

3-5 YEAR
GOVERNMENT
SECURITIES

LONG-TERM
GOVERNMENT
SECURITIES

5.25
5.26
5.17
5. 18
5.18
5. 12
4.76
4.81
4.80
4.82
4.73
4.70

5.57
5.60
5.44
5.28
5.19
5.07
4.84
4.78
4.72
4.90
4.85
4.90

6.30
6.43
6.20
5.91
5.77
5.58
5.41
5.37
5.32
5.45
5.47
5.59

7.59
7.67
7.50
7.37
7.28
7.20
7.14
7. 18
7.16
7. 16
7. 17
7.15

7.23
7.26
7.17
7.09
7.05
6.96
6.90
6.93
6.94
6.93
6.96
6.94

* AVERAGES OF RATES AVAILABLE.
ME SEVEN-DAY AVERAGES FOR WEEK ENDING 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

0

NET TIME DEPOSITS

ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

Bi ..LIONS OF DOLLARS

BILLIONS OF DOLLARS
385

BILLIONS
380
372.9
375
378.1
370
365
360
355

350
345
340
335
330

4 16

1

IS 29 12 26 12 26

FEB

MAR

9 23

7 21

4

MAY

JUN

1974

16

2 le 30 13 27

AUG

10 24

6 22

3 19

3 17 31

14 26 11 25

JAN
FEB
1978

SEP

1975

LATEST DATA PLOTTED WEEK ENDING-. FEBRUARY 11, 1976
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
96 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 6100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.

NET TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHAs-GE,
2/12/75

5/14/75

14.5
13.9
12.8
12.1
11.9
12.2
11.7
12.7

16.0
13.5
12.2
11 .9
12.3
1 1.7
13.0

7/9/75

AVERAGE OF FOUR WEEKS ENDING.

8/13/75

9/10/75

6.4
8.0
9.6
9.2
1 1 .5

9.0
10.8
10.0
12.6

10/8/75 11/12/75 12/10/75

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
7/ 9/75
8/13/75
9/10/75
10/ 8/75
11/12/75
12/10/75
1/14/76
2/11/76

8


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

8.8
8.3
8.9
10.0
9.6
11 .5

12.5
10.8
13.9

11.0
15.2

15.4

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

221.1

220. 1
221.9

4 1*

1

15 39 13 26 12 26

FEB

MAR

9 39

7 31

4 19

MAY

JUN

3 IS 50 15 37

AUG

10 34

• 33

5 19

3 17 51

SEP

14 33 11

35

JAN
FEB
1976

LATEST DATA PLOTTED WEEK ENDINGi FEBRUARY 11, 1976
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING
2/12/75

5/14/75

7/9/75

8/13/75

8.3
6.8
7.3
5.7
5.2
4.9
4.1
3.6

8.8
9.4
6.3
5.5
5.0
3.9
3.5

5.1
1.6
1.7
1.7
1.0
0.8

2.4
2.2
2.1
1.1
0.9

9/10/75

10/8/75 11/12/75 12/10/75

TO THE AVERAGE
OF FOUR WEEKS
ENDINGi
7/ 9/75
8/13/75
9/10/75
10/ 8/75
11/12/75
12/10/75
1/14/76
2/11/76


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

-1.6
-0.5
-1.0
-0.8

1.8
0.3
0.3

-0.5
-0.4

-1.3

'REPARED 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
96
94
92
90
86
86
84
82
80
78

76
74
72

4 18

1

15 29 12 28 12 28

FEB

9 23

MAR

7 21

4 1(

MAY

JUN

1974

2 II 30 IS 27 10 24

AUG

8 22

SEP

1975

LATEST DATA PLOTTED WEEK ENOINGi FEBRUARY 11,

S 19

3 17 31

14 28 11 23

JAN
FEB
1976

1976

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.B RELEASE.
NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUr
WEEKLY REPORTING COMMERCIAL BANKS.


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

1976
DEC.

JAN.

FEB.

3
10
17
24
31
7
14
21
28
4
1 1
18
25

IN DENOMINATIONS OF 8100,000 OR MORE BY LARGE

CERT 1 CATES CERTIFICATES
OF DEPOSIT
OF DEPOSIT
NOT SEAS. ACJ.
b£AS. ADJ.
83.5
83.6
83.5
83.4
83.3
81.6
79.4
77.8
70.6
”7.3
/ .2

82.6
82.8
82.9
82.9
82.8
81.9
79.9
78.6
77.4
76.7
76.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
ALL MEMBER BANKS IN THE NATION
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
3.5 r-------- ------------- -----

BILLIONS OF DOLLARS

1976

MILLIONS

JAN. 14

4 |8

DEC
1974

15 29 12 26 1* 26

1

JAN

FEB

MAR

9 23

APR

7 21

MAY

4 1«

2 16 30 13 27 10 24

JUN

AUG

JUL
1975

SEP

«

2*

OCT

3 19

3 17 31

NOV

DEC

14 29 11 25

JAN

FEB
1976

LATEST DATA PLOTTED WEEK ENDING, FEBRUARY 18, 1976

BUSINESS LOANS

(COMMERCIAL AND
BILLIONS OF DOLLARS

INDUSTRIAL)

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
134
132
130
128
126
124
122
120
118
116
114

MLU.1QNS

112
110
108
4 le

I

13 29 12 25 12 25

FEB
1974

9 23

7 21

4 16

2

16 30 13 27 10 24

MAR

AUG
1975

SEP

B 22

3 19

3 17 31

14 26 11

23

0

JAN
FEB
1976

LATEST DATA PLOTTED WEEK ENDING, FEBRUARY 11, 1976

* LEVELS OF BUSINESS LOANS BEGINNING JANUARY 7 ARE NOT COMPARABLE TO PREVIOUS DATA.

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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

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

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

540 c---------,----------- ,---------

------ --------------- ---------Z3 540

COMPOUW)ED ANNUAL RATES OF CHANGE,
AVERAGE OF THE FOUR WEEKS ENDING
JANUARY 7. 1970 FROM THE FOUR
WEEKS ENDING*
CREDIT
-ERQXY
NOV.
OCT.
SEP.
AUG.
JUL.
APR.
JAN.

5,
8,
10.
0,
9,
9,
8.

1975
1975
1975
1975
1975
1975
1975

7.0
0.3
5.8
4.0
2.6
3.6
4.1

CREDIT
PROXY
ADJUSTED
7.5
7.4
0.6
4.7
3.3
4.0
4.1

.CREDIT PROXY ADJUSTED 1/.

CREDIT PROXY

BILLIONS
CREDIT

-PROXY
508.1
507.0
507.6

CREDIT
PROXY

ADJUSTED
514.9
515.7
514.4
515.4

6 20 4 18

NOV

DEC

JAN

FEB

MAR

APR

MAY

4 18 2JUL
18 90 19 27 10 24 8 22 5 19 9 17 91 14 28

JUN

1974
LATEST DATA PLOTTED WEEK ENDINGt JANUARY 7.

AUG

1975

SEP

1976

1970

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’

H.9 RELEASE.

U^BAMKS^ ?E?TA I N’oi/eR’ «NSE^I^TT|gU^RC' *L PAPER- EURODOLLAR BORROW I MGS OF

12

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

PREPARED BY FEDERAL RESERVE BAAK OF ST. LOUIS