Full text of U.S. Financial Data : Week Ending February 5, 1969

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

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RESEARCH
L

al &

LIBRARY!
vvs sEdSifitv

of St. Louis

z'; mi

.s. FinnnciRL

Week ending: February 5r 1969

The monetary base has risen at a 10 per cent
annual rate in the last three months, compared with 7
per cent in the past year and a 3.3 per cent rate from
1957 to 1967 (page 2). Since the week ending December
18 the base has increased from $75.8 billion to $76.0
billion.
Total member bank reserves have grown at a
per cent annual rate in the last three months, 8
in the past year, and at a 3.4 per cent rate
W cent
c
from 1957 to 1967. Since the week ending December 18
these reserves have increased from $26.5 billion to
$27.4 billion.

t

The money stock has increased at a 7.6 per
cent annual rate in the last three months and 6.2 per
cent in the past year, compared with a 2.6 per cent
rate from 1957 to 1967 (page 3). Since the week ending
December 18 money has declined from $192.7 billion to
$191.8 billion. Growth of the money stock in the past
two weeks has been restrained by an exceptional in­
crease of Treasury balances at commercial banks,
deposits which are not included in the money stock.
V
Time deposits at commercial banks have de^fc.ned to $201.5 billion from $204.6 billion in the
week ending December 25 (page 7) in response to high
market rates in relation to maximum rates banks are


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

drtr

permitted to pay on time deposits. Consequently,
money plus time deposits has declined to $393.3 billion
from $397.2 billion in the week ending December 18
(page 4). This broad measure of money has increased at
a 6.7 per cent annual rate in the past three months,
compared with 8 per cent in the past year and a 6.2 per
cent rate from 1957 to 1967.
Borrowing from the Federal Reserve has
averaged $806 million in the past three weeks, up from
$513 million in the three weeks ending December 18
(page 10). This increase in borrowing has added to bank
reserves and the monetary base and probably reflects
the large margin of market rates over the discount rate,
the high demand for bank loans, and disintermediation
caused by high market rates relative to rates banks are
permitted to pay on time deposits.
Market interest rates have been about un­
changed since late December after rising greatly from
August (pages 8 and 9). Three-month Treasury bill
rates averaged 6.20 per cent in the first three days of
this week, the same as in the week ending December 27,
compared with 5.08 per cent in August. In the past three
weeks bill rates have been .65 percentage points above
the discount rate. Since 1961 the bill rates have
averaged .06 percentage points below the discount rate.

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 7,1969

MONETARY BASE l]_
FEDERAL RESERVE CREDIT £
Averages of Daity Figures

>na of Dollars
78

77

Billions of

Seasonally adjusted by this bank.
Annual rates of change, average of four seeks___
ending Feb. 5, 1969 from four weeks ending:
__
1
Monetary Base F.R. Credit
----Aug. 7, 1968

-f 7 0
76
1957-1967

75
Monetary Base

1

TTTT

74

73

72

Federal Reserve Credit
71

70
1968-69

Monetary
Base

F.R. Credit

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.
For a description of the base see the August
1968 Review of this bank.

56

55

2/ Defined to include holdings of securities,
loans, and float, adjusted for reserve
requirement changes and changes in requirement
due to shifts in deposits among classes of
banks.

54

Latest data preliminary
Latest data plotted week ending: Feb. 5, 1969
53
6 20
Sept.

4


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

18

1

15

29

13 27 10 24
Jan.

7

21

6

20
'.

3

17
Apr.

1

15
May

29 12 26 10 24
June
July
1968

7 21 '4 18
Aug.
Sept.

2

16
Oct.

30 13 27
Nov.

11 25
Dec.

8 22
Jan.

5

19
Feb.

1969

5 19
Mar.

2
A

MO
STOCK*
Daily
Figures
A ve rages
Seasona lly Ad us ted

.ions of Dollars
205

3
Billions of Dollars

204
Annual rates of change, average of
203
four weeks ending:

202
July 31. 1968 + i.g
May
1, 1968
6 7

201
200

1957-1967

199

198
197

196
195
194
193

192
191

190

- WEEKLY DATA
1968-69

189

\oeiz. no.o

188

-

?

186

/*?.?

-

J<* iV-o
A3 !8f.¥

-

30 /f1.J

-

187

'TW'A 79/.9 ■
■
/3 no.c,
'
JO /9Z.Z

185

'

184

a7 193.3

13-week centered
moving average

183

Weekly

182
181
180
179

178
177
* Current data appear in the Board's H.6 release. Back
data appear in the June 1968 Federal Reserve Bulletin.
For trend of money stock by months see this bank's
monthly release entitled "Monetary Trends".

176
175

— Latest data preliminary
Latest data plotted week ending:;Jan. 29, 1969

T~l I I I II I I' I I I I I I I 1 1 I I I 1 I I L. .11.______________ __________
6

20

4

Sept.


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

18

1

15

29 13

27

10

24

7

21

6

20

3

17

1

15

29 12

26

June

10 24
July

7

21

Aug.

4 18
Sept.

2

16 30

13

27 11 25

8

22

5

19

5

19
Mar.

Prepared by Federal Reserve Bank of St. Louis

2
Apr.

MONEY STOCK PLUS TIME DEPOSITS*
Averages of Daily Figures
Seasonally Ad justed

Billions of Dollars
410

Billions of Dollars
410

Annual rates of change, average of
four weeks ending Jan. 29, 1969 from
four weeks ending:
Oct. 30, 1968 -h6>-7
July 31, 1968 yt <p.4>
May
1, 1968
Jan. 31, 1968 -fP./
1957-1967

393.3

JSt-l
3<fo.l

389.9
3 9e.3
StA,7

39A<0

:

393$

3? 6.1
391.1

39 7. A.

3 97-t

25 397.J

Ml

391.9

398.7

/Y39i.G
2Z375-7
27 393.3 P

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

Back
data appear in the June 1968 Federal Reserve Bullet!
For trend of money stock plus time deposits by month
see this bank's monthly release entitled "Monetary Trends".

Latest data preliminary
Latest data plotted week ending: Jan. 29, 1969


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

1
1967

15 29
Nov.

13 27
Dec.

10 24
Jan.

7 21
Feb

3

17
Apr.

1

15
May

29 12

26
June

10 24
July

7

21

Aug.

4

18
Sept.

2

16
Oct.

30

13

27 11 25
Nov.
Dec.

8

22
Jan.

5

19
Feb.

1968

5

19
Mar.

ate
Prepared by Federal Reserve Bank of

Louis

2
Apr.

BUSINA loans
Large Comme rcial Banks
Wednesday Figures

Billions of Dollars

5
Billions of Dollars

Seasonally adjusted by this bank.

78

—Annual rates of change, average of
— four weeks ending Jan. 29, 1969 from
— four weeks ending:

Jan. 31, 1968 /

V

1960-1967

MILLIONS OF DOLLARS
UNADJUSTED
_

OJ-.3.
J

7o3<TJ
Cj.830
<*%(,*(.
7 o,/J /
7°S77

7o,77?
7o3Qjl.
Lj
7d*cJ
70 ^C,

37
Kk* *
//
If25

7/J7S'
7/ 37.L70,83.
73, W
73. o<33 /

7'/,3?z7/ <3
70,97573 103
7( ftrV /


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

6
20 3
17
Mar.
Apr.

70 Jo?

7/okto

Current and year ago unadjusted data appear in
the Board's H.4.2 release. Seasonal adjustment
computed by this bank using 1962 through 1967 data.

Latest data preliminary
Latest data plotted:
j
7 21
Feb.

70, *Y3

4?,

!<*
£3
30
fa 4
O
30

10 24

ADJITSTF,!

£f, 9*3

1

15 29
12 26 10 24
May
June
July
1968

7

21
Aug.

4

18
Sept.

2

16

30 13

27 11

25
Dec.

8

22

5

19

5

19

16 30
Apr.
1969

14 28
May

Prepared by Federal Reserve Bank of St. Louis

11 25 9
23
June
July

CERTIFICATES OF DEPOSIT [1_
Large Commercial Banks
Wednesday Figures

Billions of Dollars

Billions of Dollars

Annual rates of change, seasonally unadjusted data
four weeks ending:

------May

1964-1967

Millions of Dollars
1
1968-69
- TUir.
6
13,
/3
13,38*

-

3.0

1 3,6W

-

n
1

zv.307

A*c.

Current and year ago data appear in the
Board's H.4.2. release.
1/ Negotiable time certificates of deposit
in denominations of $100,000 or more.

Latest data preliminary
___ Latest data plotted:
,

C 20
Sept.

4

18


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

1

15 29

13 27 10
Dec.

24

7

21

6

20 3
Mar.

17

1529
;y

12 26 10 247 21
June
July
Aug.
4lKk968

4

18 2
Sept.

16 30
Oct.

13 27 11 25
Nov.
Dec.

8

22
Jan.

5

19

Prepared by Federal Reserve Bank of St. Louis

5

19
Mar.

2
Apr.

TIME ^POSITS*
All Commercial Banks
Averages of Daily Figures
Seasonally Ad usted

Billions of Dollars

Billions of Dollars

Annual rates of change, average of
from four weeks endii

May

1, 1968

■/-/£.?

1957-1967

data appear in the June 1968 Federal Reserve Bulletin.

— “Latest data preliminary
__ Latest data plotted week ending : Jan. 29

monthly release entitled "Monetary Trends".

mm-i
6

20

k

18


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

1

15

29 13

27

10 2k

7

21

6 20

3

17

1

15

29 12

26

10 2k

7

21'

k- 18

2

16

30 13

27 11

25

8

22. 5

19

5

19
Mar.

Prepared by Federal Reserve Bank of St. Louis

2
Apr

t

YIELDS ON SELECTED SECURITIES
Averages of Daily Rates Ended Friday

Per Cent

3-MONTH _______
TREAS. 3-5 ! LONGBILL
^AR _TERM

f

• y s.a
n

su/

/t S~3i-

&f s+o

/ s.ts
? stt

s.3i s/jr

jrt-3

sjs

f

sjS

vf-yj- v^<?6

ssr

CORPORATE
Aaa_

L.osl
4.<96

iJO

i-/3

6.at

&,./c

/jr stj. s.t7 s.33
Sts’ st°
s<) 517 2.ft S.il'
c 6 SlL
\71 SSL
iSJ-.if
SV S.ss
30 £03
\oS Sti

C.zg
1-33
4. tS
L-i2

,SJ i,X°

I n S.8Z I

6 S3

to L./9

■/£ S79
y? sn8

£SS
6 S8

is. s.93

Per Cent

c/7

i.oat.

Sit

6.SI

hO#

510

6 6/

r.ts s.70 \
01 £.79
£.ff

Prime Commercial
Loan Rate

Corporate
Aaa Bonds

Three-Month Treasury
Bill Market Yield

Discount Rates

5.00

Long Term
Government Bonds

8

22

6

1 t 1 1 1 1 1 1 1 1 < 1 1 1 » I 1 1
20 3 17
1 15 29 12 26 9 23


IS OF BATES AVAILABLE
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1 81 1 221 < 51 1 19i I 31 1 17
1 1 31
* I

'I I T
11-1 .in
14 28 12 26 9 23 6
June July

20

It

18

1

15

29 13

27 10

24

7

1968
Prepared by Federal Reserve Bank of

21

7

21

SELECTED SHORTWRM INTEREST RATES
Averages of Daily Rates Ended Friday

Per Cent
9.00

Per Cent
9.00

I I I III I I TI I I I 11 I'll I 111
PRIME
COMMERCIAL
PRIME
PAPER
BANKERS'
4-6-MONIH ACCEPTANCES

8.50

LARGE
90 DAT FEDERAL
CD'S ** FUNDS
or

JA

■j'gcr
-i'■?»
j'.tf
S'fS'
toe
6af
(,./o

^

6./0

n
so
7.00 —mA7

t.yo

8.00 —

—
7.50
—

—
—
—

at

4>

& ‘313^

£76

3 89
j'.og

s-Sl
sr.d>o

0-38

6 03

6 3o
3,9V

365

615

^-7<T

>‘t0

\.9f

3.

^r.?3
sir
S.*?

6,6f
0 <0 o
—•

s. eg

Commercial Paper
4-to-6 Month
.

6 ■ 33

6.33

(,./?
6*7

Bankers
Acceptances

Discount Rate

.Federal Funds Rate

^___Latest data plotted are averages of rates available for the week ending: Feb. 7, 1969

8

22

6

20

3

17

1

15

29

12 26

9

1967
‘AVERAGES OF RATES AVAILABLE
“SOURCE: SALOMON BROTHERS AMD KUTZLER
http://fraser.stlouisfed.org
SECONDARY MARKET RATE ON 90-DAY PRIME CD'S.
Federal Reserve Bank of St. Louis

23

8

22

5

19

3

17

31

14 28
June

12

1968

26 9

July

23

6

20

4

18

1

15

29

13 27' 10 24

7

21

n

21

Aug

1969
Prepared by Federal Reserve Bank of St. Louis

Millions of Dollars
2,000
EXCESS
RESERVES

U, f

1,500

10

BORROWINGS AND EXCESS RESERVES
All Member Banks in the Nation
Ave rag es of Daily Figures

Millions of Dollars

BORROWINGS

WEEKLY DATA

OcJ- <3

3fS

7

AAS

Sff
iP3

J(.
33
3o

313
' J
3 S3.

S/6
33 J
US

>W fe

/?JL

313.

/3
AO

S37
c13.7

<*7S
s33

47

/?s

- ns
-338

- H3

sgj

“

vTJ/

1,500

- JSL

S7jf

_

8S?
/j/y

&o6
A A 4+°

688

-- ml AS
#

29 !S7

s /79

BIWEEKLY SETTLEMENT PERIODS

-m

__ WEEKLY RESERVE PERIODS —

8?A

P

lil
Borrowings

“ 1/ Because of the change in Regulation D
] placing all member banks on a one-week
_i reserve adjustment period, beginning with
above reserve data are reported on a
one-week period.

Latest data preliminary
_
Latest data plotted week ending: Feb. 5, 1969

13

27

nun
8 22 6

11 25


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

20

3

17

31

14

28 13 27

10

24

8

22

5

19
June

3

17

31 14

28 11

25

9

23

mu
6 20

1

15 29

12 26

July
- Prepared by Federal Reserve Bank of St

12

DEMAND DEPOSIT CoAlNENTOF MONEY STOCK*

11

Ave ragess of D<
Daily Figures
Seasonally Adjusted

Billions of Dollars

n

n:

1
1

Billions of Dollars
163

li
1

162

Annual rates of change, average ot
four weeks ending Jan. 29, 1969 from
four weeks ending:
Oct.
30, 1968
7?
July
31, 1968 + f.iMay
1, 1968 A 6•6
Jan.
31, 1968 +
■7

161
160
159
158

+Z.1

1957-1967

157
156

156

155
154
153

153

152

152
151
150
149
A1

*
L

148

r

WEEKLY DATA
1968-69

1

..
*•

Oc.J-S
1
!<33
30
~h*/ t
13
SO

1^
*S
4
r
Weekly

*!

147

/i-7.3
H-7-O
;*8.l

146
145
144

/¥7*3

143

S7 /y?. ?

142

/V? <2

/y?.y

l4l

il /y?.4
mix

:

140

3-f W9-S
\a~-J
8 AT/. 9

••j

139

tr/so. 3

Zl/Joo

Hi 111-'

138
P

137
136

136

Latest data preliminary
Latest data plotted week ending: jan> 29, 1969

r~ li 1 1 1 il ttn 1 M 11 1 1 I i 11 11 1TI~
6

20 4 18 1 15
Sept.


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

Oct.

1967

29 13

Nov.

27 10 24
Dec.

Jan.

7 21
Feb.

6

20
Mar.

3 17 1 15 29 12 26

10 24

Apr.

July

May

June

1968

7

21
Aug.

135
_
_
I I I I I I 1 1
Current data appear in the Board's H.6 release. Back
134
data appear in the June 1968 Federal Reserve Bulletin.
For trend of demand deposits by months see this bank's 133
monthly release entitled ^'Monetary Trends".
1;
~ 0
ii 1 I T 1 1 1 I 1 ' 1 1 1 1__I T ,1 .1. J__I. I' UK t 1 I I

4 18

Sept.

2 16

Oct.

30 13

27 11 25

Nov. Dec.

8

22 5

Jan.

19 5

Feb.

19 2

Mar.

1969
Prepared by Federal Reserve Bank of St. Louis

Apr.