Full text of U.S. Financial Data : Week Ending: February 2, 1972
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
RESEARCH LIBRARY Federal Reserve Bank of St. Louis Week ending: February 2, 1972 AUG 2 7 1998 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Growth rates of both the monetary base and Federal Reserve credit have increased in recent months. The monetary base, a primary determinant of the money stock, has risen at a 5 percent annual rate in the last six months and at a more rapid 9.7 percent rate in the last two months (page 2). Federal Reserve credit, the component of the monetary base that reflects monetary policy actions, has increased at a 10.6 percent rate in the last six months and at a 21.1 per cent rate in the last two months (page 3). The more rapid growth of Federal Reserve credit than the base largely reflects an increase in Treasury deposits at the Federal Reserve from about $2 billion in late November to about $3 billion in the week ending February 2. The nation's money stock, which averaged $228.7 billion in the four weeks ending January 26, has risen at a 1.1 percent annual rate in the last six months (page 5). By comparison, the money stock rose at a 6.3 percent trend rate from late 1966 to July 1971. With the money stock growing at a slower rate than the monetary base, the money multiplier has declined in the last six months (page 2). A partial explanation for the decline in the money multiplier has been a recent increase in the rate of growth of time deposits. Since mid-summer, most market interest rates have declined, while rates paid on savings deposits and small time accounts have changed little, making such time deposits relatively more attractive. Net time deposits have risen at a 15.9 percent annual rate in the last five months, compared with an 11 percent rate of increase in the previous five months (page 6). Reflecting the rapid growth of time deposits, the bank credit proxy has increased at an 11 percent annual rate in the last five months. The bank credit proxy adjusted to include nondeposit sources of funds has risen at virtually the same rate over this period (page 9). Prepared by Federal Reserve Bank of St. Louis Released: February 4, 1972 libINETARY i BASE u MULT I PLIERS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS BILLIONS OF DOLLARS _ COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF THE FOUR WEEKS ENDING — FEBRUARY 2, 1972 FROM THE FOUR WEEKS ENDINGt - DEC. NOV. 1, 1971 3, 1971 _ JUN. 30, 2, 9.7 7.8 1971 1971 MONETARY BASE 1972 MILL)QN£ DEC. 2 LATEST DATA PLOTTED WEEK ENDINGi FEBRUARY 2, 1972 RATIO 2.9 RATIO 2.8 MULTIPLIER 2.7 2.6 2.5 RATIO 2.4 2 16 30 13 27 10 24 10 24 JAN 1970 FEB 7 21 5 19 APR MAY 2 16 30 14 26 It JUL 1971 AUG 25 6 22 6 20 3 17 1 15 29 12 26 0 23 JAN FEB 1972 LATEST DATA PLOTTED WEEK ENDINGi JANUARY 26, 1972 1/ USES OF MONETARY BASE ARE MEMBER BANK RESERVES AND CURRENCY HELD BY THE PUBLIC AND NONMEMBER 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/ RATIO OF MONEY STOCK (Ml ) / MONETARY BASE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS RESERVES v ^ I ON IN THE Wr 3 ALL MEMBER BANKS FEDERAL RESERVE CREDIT^ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 34.0 Z_ Z COMPOUNDED ANNUAL RATI OF CHANCE. AVERAGE OF THE FOUR WEEKS ENDING FEBRUARY 2j_J87£ FROM THE FOUR --- * ~ ~ DEC Z NOV 33.5 33.0 14.7 32.5 RESERVES 32.0 32.0 31.5 31.5 31.0 LSZi BILLIONS DEC. 2! 30.5 30.0 30.0 J-LU 1. 0 •2 COMPOUNDED ANNUAL RATES OF CHANCE. AVERAGE OF THE FOUR WEEKS ENDING FEBRUARY 2. 1972 FROM THE FOUR WEEKS EKC INGi 1971 AUG 21.1 14.2 9.5 13.1 10.6 1971 - 1971 1971 1971 1971 13.1 JUN _ 7* FEDERAL RESERVE CREDIT 1 1.8 76 74 12Z2 MILLIONS — 72 DEC. 2! 70 Ill] 1 l I I 2 16 90 19 27 10 24 10 24 JAN 7 21 9 It 2 16 90 14 2« 11 29 6 22 9 17 OCT FEB 6 20 NOV 12 26 6 29 LATEST DATA PLOTTED WEEK ENDINGi FEBRUARY 2, 1972 1/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. 2/ DEFINED TO INCLUOE HOLDINGS OF SECURITIES, LOANS. FLOAT AND "OTHER" ASSETS. ADJUSTED FOR RESERVE REQUIREMENT CHANGES AM) CHANGES IN REQUIREMENTS DUE TO SHIFTS 'IN D€p---- AMONG _ — -. . -. . -------- 6sITS -CLASSES OF BANKS. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS DEMAND DEPOSIT COMPONENT OF MON S STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS T80 175.2 175.9 175.6 175.7 175 176.1 170 165 160 2 16 30 15 27 10 24 10 24 JAN FEB 7 21 APR 5 19 MAY 1970 2 16 30 14 26 II 25 6 22 6 20 3 17 1 15 29 12 24 JAN • 29 FEB 1972 1971 LATEST DATA PLOTTED WEEK ENDING. JANUARY 26. 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING. 1/27/71 5/26/71 6/23/71 7/28/71 8/25/71 12.7 12.2 11.0 8.7 7.8 6.8 6.3 6.0 9.7 7.9 4.4 3.6 2.7 2.5 2.6 7.2 3.0 2.3 1.5 1 .6 1.7 -0.7 -0.5 -0.9 -0.3 0.2 -2.3 -2.2 -1.1 -0.4 9/29/71 10/27/71 11/24/71 TO THE AVERAGE OF FOUR WEEKS END 1NG: 6/23/71 7/26/71 8/25/71 9/29/71 10/27/71 11/24/71 12/29/71 1/26/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -1 .1 0.0 0.7 0.0 0.9 2.3 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 MONEY STOC# AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 235 BILLIONS 227.8 228.5 230 228.4 228.9 229.5 225 220 215 210 2 16 30 13 27 10 24 10 24 JAN 7 21 5 19 APR FEB MAY 1970 2 16 30 14 26 11 25 JUL 6 22 6 20 3 17 1 15 29 12 26 AUG 9 23 JAN FEB 1972 197! LATEST DATA PLOTTED WEEK ENDINGi JANUARY 26. 1972 CURRENT DATA APPEAR IN THE BOARD OP GOVERNORS’ H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDINGi 1/27/71 5/26/71 6/23/71 1 1.8 11.6 10.5 8.6 7.8 6.9 6.5 6.2 9.9 8.1 5. 1 4.4 3.4 3.3 3.3 7.7 4.0 3.4 2.4 2.5 2.6 7/28/71 8/25/71 9/29/71 10/27/71 11/24/71 TO THE AVERAGE OF FOUR WEEKS ENDINGi 6/23/71 7/28/71 8/25/71 9/29/71 10/27/71 11/24/71 12/29/71 1/26/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0.5 0.7 0. 1 0.7 1.1 -0.8 -1.0 0.0 0.6 -0.3 0.9 1.5 0.8 1.6 3.1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS YMAE DEPOSI TS (3WMMERC) AL BANKS AL1U OT,V„,L,L,nLFIGURES AVERAGES OF DAILY SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 280 270 260 TOTAL TIME DEPOSITS 250 240 230 NET TIME DEPOSITS* 220 210 - 2 16 30 IS 27 10 24 10 24 7 21 5 19 2 16 30 14 28 11 JUL 1971 1970 25 8 22 6 20 3 17 1 15 29 12 28 9 25 AUG 1972 LATEST DATA PLOTTED WEEK ENOING: JANUARY 26, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. * 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 8100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS. NET TIME DEPOS1TS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 1/27/71 5/26/71 6/23/71 7/28/71 8/25/71 21 .8 18.6 16.3 15. 1 15.0 14.9 15.2 16.2 9.2 7.0 7.3 8.5 9. 4 10.6 12.5 4.5 5.7 7.5 8.7 1 0*3 12.5 5.5 8.0 9.5 11.2 13.7 10.7 11.8 13.3 15.9 9/29/71 10/27/71 11/24/71 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/23/71 7/28/71 8/25/71 9/29/71 10/27/71 11/24/71 12/29/71 1/26/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 14.2 15.4 18.3 16.0 19.7 22.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 200 mWey stgck plus timPdeposits AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 510 r=----- ----- --- BILLIONS OF DOLLARS ---- ----- --- -i 510 MONEY STOCK PLUS TOTAL TIME DEPOSITS MONEY STOGK PLUS NET TIME DEPOSITS** 2 16 30 13 27 10 24 10 24 7 21 5 19 APR MAY 2 16 30 14 2S II 25 0 22 6 20 3 17 OCT NOV 1 15 29 12 26 JAN 9 23 FEB 1971 LATEST DATA PLOTTED WEEK ENDING) JANUARY 26, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. Mj IS DEFINED AS. CURRENCY, DEMAND DEPOSITS PLUS NET TIME DEPOSITS (SEE PAGE 6). MONEY STOCK PLUS NET TIME DEPOSITS (M2) COMPOUNDED ANNUAL RATES OF GHANGE, AVERAGE OF FOUR WEEKS ENDING. 1/27/71 5/26/71 6/23/71 7/28/71 8/25/71 16.6 15.0 13.4 11.7 11.3 10.8 10.8 11.1 9.6 7.6 6. 1 6.4 6.4 7.0 7.9 6.1 4.8 5.4 5.6 6.4 7.5 2.8 4.3 4.7 5.9 7.4 4.8 5.2 6.6 8. 1 9/29/71 10/27/71 11/24/71 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/25/71 7/28/71 8/25/71 9/29/71 10/27/71 11/24/71 12/29/71 1/26/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6.9 8.1 9.8 8.3 10.5 12.5 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS CERTliiCATES OF DEPOSIT m LARGW:OMMERC I AL BANKS W WEDNESDAY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 7 21 5 18 APR MAY 2 1 6 30 1 3 27 1 0 24 1 0 2 4 JAN FEB 2 16 50 14 28 11 JUL 25 8 22 BILLIONS OF DOLLARS 6 20 5 17 1 15 20 12 26 JAN AUG 0 25 FEB LATEST DATA PLOTTED WEEK ENDING. JANUARY 26, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF #100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MONEY AND TIME DEPOSIT DATA CERTIFICATES OF DEPOSIT 1972 DEC. 1 8 15 22 29 JAN. 5 12 19 26 FEB. 2 BILLIONS NET TIME DEPOS1TS * 32.6 33.2 33.0 33.6 34.0 33.2 33.2 33.2 33.3 234.5 234.7 236. 1 236.4 238. 1 240.0 240.7 240.8 242.0 M2 m 462.1 463.3 463.6 464.2 467.0 468.2 469.2 469.8 471.5 9 16 23 * SEE FOOTNOTE PAGE 6 m SEE FOOTNOTE PAGE 7. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 MEMBER BANK DEPOSITS OS I SUBJECT TO RESERVE REQUIREMENTS (CREDIT PROXY ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 375 365 355 CREDIT PROXY ADJUSTED 1/ 345 335 CREDIT PROXY 325 315 2 16 90 19 27 10 24 10 24 JAN 7 21 5 18 2 16 90 14 26 11 25 6 22 1970 6 20 9 17 OCT FEB NOV 1 15 28 12 26 8 25 JAN FEB 1972 1971 LATEST DATA PLOTTED WEEK ENDINGs JANUARY 26, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.9 RELEASE. 1/ INCLUDES MEMBER BANK DEPOSITS, BANK-RELATED COMMERCIAL PAPER. EURODOLLAR BORROWINGS OF U.S. BANKS, AND CERTAIN OTHER NONDEPOSIT SOURCES. 1972 BILLIONS CRED1T PROXY DEC. 22 29 JAN. 5 12 19 26 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CRED1T PROXY ADJUSTED 359.5 360.0 361.7 360.9 362.2 363 . 3 363.3 363.7 365,2 364.8 366. 4 367.5 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING JANUARY 26, 1972 FROM THE FOUR WEEKS ENDINGi CREDIT CREDIT PROXY ..PROXY. ADJUSTED NOV. OCT. SEP. AUG. JUL. JUN. MAY 24, 27, 29, 25, 28, 23, 26, 1971 1971 1971 1971 1971 1971 1971 16.2 15.0 11.4 11,0 11.0 10.4 10.1 13.6 13.7 11.3 10.9 10.7 10. 1 9.9 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT -- 8.5 PERCENT 8.5 -- CORPORATE Aaa BONDS MUN ICI PAL BONDSm PRIME COMMERCIAL LOAN RATE DISCOUNT RATE THREE-MONTH TREASURY BILL MARKET YIELD 0 23 7 21 4 1# MAY 15 20 12 26 12 26 1 JUN 2 1C SO 13 27 10 JUL AUG SEP 24 S 22 OCT 5 1# NOV 1070 3 17 SI DEC M JAN FEB 1872 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. FEBRUARY 4, 1972 1972 DEC. 3 10 17 24 31 JAN. 7 14 21 28 FEB. 4 * 11 18 25 CORPORATE Am BONDS 3-MONTH TREASURY fllLLS 3-5 YEAR GOVERNMENT SECUR1T1ES LONG-TERM GOVERNMENT SECURITIES MUNICIPAL BONDS m 7.28 7.27 7.24 7.23 7.22 7.19 7. 17 7. 16 7.22 7.26 4.28 4. 1 1 4.04 4.02 3.73 3.59 3.16 3.31 3.46 3.39 5.52 5.48 5.45 5.43 5.27 5.31 5.20 5.32 5.47 5.55 5.58 5.59 5.63 5.68 5.60 5.61 5.57 5.61 5.67 5.71 5.44 5.23 5.21 5.13 5.02 5.03 4.99 5.17 5.29 N.A. Si 85 3wABONDG!uYER'SAAvlRAGElliNDEX‘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 SELECTED SHORT-TERM INTEREST RATES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT COMMERCIAL PAPER 4-T0-6 MONTH FEDERAL FUNDS RATE 4 18 I 15 29 2 26 FEB 12 26 9 23 7 21 4 18 2 16 30 13 27 AUG MAR 10 24 8 22 5 18 3 17 31 14 28 II 25 SEP 1070 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGj FEBRUARY 4, 1972 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1972 DEC. 3 10 17 24 31 JAN. 7 14 21 28 FEB. 4 X 11 18 25 PRIME COMMERCIAL PAPER 4-6 MONTH FEDERAL FUNDS PRIME BANKERS' ACCEPTANCES 90 DAY CD'S xm 4.88 4.88 4.75 4.75 4.48 4.38 4. 10 3.98 3.8g 4.00 4.33 4.63 3.93 3.70 4.00 3.85 3.55 3.53 3.33 3.23 4.75 4.58 4.50 4.40 4. 18 4.10 3.88 3.88 3.85 3.75 4.89 4.84 4.75 4.66 4.58 4.34 4.10 4.02 3.97 3.82 » AVERAGES OF RATES AVAILABLE. FEDERAL FUNDS LAST FIVE DAYS AVAILABLE MK DATA ARE SECONDARY MARKET RATES, WEEKLY AVERAGES END ING WEDNESDAY TWO DAYS EARLIER. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 12 BORROWING AND EXCESS RESERN^ ALL MEMBER BANKS IN THE NATION AVERAGES OF DA i LY FIGURES BILLIONS OF DOLLARS BILLIONS OF DOLLARS BORROWINGS EXCESS RESERVES 0.8 - NET FREE RESERVES - 1.2 1.6 - 2 16 SO 13 27 10 24 10 24 JAN 7 21 5 10 APR FEB MAY 2 16 30 14 28 11 JUL 1971 1970 25 AUG 8 22 6 20 3 17 OCT NOV 1 15 20 12 26 0 23 JAN FEB 1972 LATEST DATA PLOTTED WEEK ENDING. FEBRUARY 2, 1972 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MILLIONS 1972 1 8 15 22 29 JAN. 5 12 19 26 FEB. 2 9 16 23 EXCESS RESERVES DEC. - 590 143 204 29 314 312 66 279 239 264 BORROWINGS 705 59 25 141 216 57 17 13 13 18 FREE RESERVES - 115 84 179 - 170 98 255 49 266 226 246 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS