Full text of U.S. Financial Data : Week Ending: February 7, 1979

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

F/A//I /VCT//1 L

tDX\TA1

Week ending: February 7, 1979
L.IBRAR'VJ This week the Board of Governors released a revision of
the money stock series and related data to incorporate benchmark
f°r domestic nonmember banks and revised seasonal
factors. The benchmark adjustments are based on the June 1978
Re£?rt ^P°rt of Condition) and affect data back to March
1978. These adjustments had a very small effect on the level of
Ml in June 1978 as well as at the end of the year. However the
level, of M2 was raised $2 billion in June 1978 and $4.3 billion at
the end of the year. All money stock data and related series in
this release are on the revised basis.
As shown in the table below, the revisions had little
J^mw011
growth °£ M1 ?ver the year as a whole. The increase
in M2 growth was somewhat larger, reflecting the larger effect of
benchmark adjustments on these data. M2 grew 8 percent on a
d“1°8 l578’ c°">’"ed “ 8.5p«rc.„t
..
.
,°n,a quarter-to-quarter basis, the revisions accentuated
the slowing in the growth of Ml and M2 in the fourth quarter
On
a revised basis, growth of Ml slowed from an 8.4 percent rate in
the third quarter to a 4.4 percent rate in the fourth quarter
compared to a previously-reported slowing from a 7.9 to a 4.3
percent rate in the same periods. M2 growth slowed from a 10 3
percent rate in the third quarter to a 7.9 percent rate in the
Previously-reported data
fourth (juwter based on revised data.
indicated a slowing in M2 growth from a 9.2 to a 7.6 percent rate
in the same periods.
GROWTH RATES OF Ml AND M2
(Compounded Annual Rates of Change)

Quarters
1978

Previouslyreported
Ml

I

6.3 %

Revised
Ml

Previouslyreported
M2

Revised
M2

6.8 7c

7.0 7c

7.1 7.

10.3

9.6

8.1

8.7

III

7.9

8.4

9.2

10.3

IV

4.3

4.4

7.6

7.9

7.2

7.3

8.0

8.5

II

Full year


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

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

9, 7979

2

MONETARY BASE

AVERAGES OF DAILY FIGURES
BILLIONS OF DOLLARS

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

M3.6
142.3

JAN.

M3.6
M3.7

1111111,1111
A

18

I

13

1

13 29

12

26

10 2A

7 21

3

19

2

16 30

13 ZT

II

23

8 22

6

20

LATEST DATA PLOTTED WEEK ENDING, FEBRUARY 7,

3

IT 31

H

28

1979

197B
1979

THE MONETARY BASE CONSISTS OF MEMBER BANK
"SERVES AT THE FEDERAL RESERVE BANKS1 AND CURRENCY
IN 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 ANO THE GOLD STOCK. DATA ARE COMPUTED BY THIS BANK. A DETAILED DE­
SCRIPTION OF THE MONETARY BASE IS AVAILABLE FROM THE FEDERAL RESERVE BANK OF ST. LOUIS.

MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
2/8/78

5/10/78

7/5/78

9. 1
8.5
8.6
9.2
9.4
9. 1
8.9
8.8

8.9
8.9
9.8
10. 1
9.5
9.2
9.0

7.4
9.4
9.8
9. 1
8.8
8.6

AVERAGE OF FOUR WEEKS END 1NG t

8/9/78

9/6/78

11.4
1 1.2
9.9
9.4
9.1

12.3
10.2
9.5
9.1

10/4/78

11/8/78

12/6/78

8.6
8.2
8.1

6.7
7.0

7.6

TO THE AVERAGE
OF FOUR WEEKS
ENDING,
7/ 5/78
8/ 9/78
9/ 6/78
10/ 4/78
11/ 8/78
12/ 6/78
1/10/79
2/ 7/79


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

RATIO
2.S

RATIO
2.9

MULT PLIER

S'”—!

J_979
DEC.
JAN.

iu_L

-1.11

1 11

■ 1 II.1

111

-1.111

JJ.I

111

LATEST DATA PLOTTED WEEK ENDING* JANUARY 31,

-LLLL

1 1 1

path:

27
3
10

2.538
2.524
2.534

24
31

2.502
2.489

-U.1. 11111 1 1 1 1 1 1 1 1

l

““

1 1 i;

1979

BILLIONS OF DOLLARS
12S ------------,------------,---------

BILLIONS OF DOLLARS
------ ---------------------------- 128

COMPOUNDED ANNUAL RATES
----- OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING
“ FEBRUARY 7, 1979 FROM
___THE FOUR
WEEKS ENDING*
-

DEC.
NOV.
— OCT.

6, 1978
8, 1978
*
---------

11.4
9.9
-- "

1978

10.9
10.3

SEP.
AUG.
-----MAY

ADJUSTED FEDERAL RESERVE CREDIT

_

_

FEB.

19T9

BILLIONS
123.4
1 24! 4

11 1 I I I I I I I I I I I I I I
1

JAN

15

I

13

29

12 26

10 24

7

21

3

19

FEB

2

16

50

13

SEP

1978

27

11

23

8 22

6 20

3

17 31

14

28

OCT
1979

LATEST DATA PLOTTED WEEK ENDING* FEBRUARY 7, 1979
1/ RATIO OF MONEY STOCK ( Ml ) / MONETARY BASE.
2/ FEDERAL RESERVE CREDIT CONSISTS OF FEDERAL RESERVE HOLDINGS OF SECURITIES LOANS FLOAT
AND OTHER ASSETS.
ADJUSTED FEDERAL RESERVE CREDIT IS COMPUTED BY SUBTRACfING TREASURY
DEPOSITS AT FEDERAL RESERVE BANKS FROM THIS SERIES, AND ADJUSTING THE SERESFCW RE­
SERVE REQUIREMENT RATIO CHANGES ANO SHIFTS IN THE &AME TYPE OF DEPOSITS BETWEEN BANKS
WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY.
DATA ARE COMPUTED BY THIS BANK


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY STOCK PLUS NET TIME DEPOSITS ( M2 )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
880
875

BILLIONS
DEC.

870

Z7
878.0
875.0

865

873.9

860
855
850

845
840
835
830

820
815

810
805
800
HE5 795

I I I I
3

DEC

JAN

19

2

16

30

13 27

SEP

FEB

LATEST DATA PLOTTED WEEK ENDINQ.

JANUARY 31,

M

Z3

« tt

OCT

1979

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.

MONEY STOCK PLUS NET TIME DEPOSITS CM2)
COMPOUNDED ANNUAL RATES OF CHANGE,
Z/1/7B

5/3/78

8/28/78

8/2/78

AVERAGE OF FOUR WEEKS ENDING,

8/30/7B

10/4/7B

10.0
8.3
6.7
5.0

5.4
4.3
2.7

11/1/78 1 1/29/78

TO THE AVERAGE
OF FOUR WEEKS
ENDING,
6/28/78
8/ 2/78
8/30/78
10/ 4/78
11/ 1/T8
11/Z9/7B
1/ 3/79
1/31/79

8.2
8.2
8.8
9.4
9. 1
8.7
8.0
7,2


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

8.6
9.6
10.4
9.8
9. 1
8. 1
7.0

10.2
11.2
10. 1
9. 1
7.8
6.5

13.0
10.9
9.4
7.8
6.2

3.4
1.6

0.3

PREPARED BY FEDERAL RESERVE BAMC OF ST. LOUIS

0

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
370 ---------- .---------- 1--------

BILLIONS OF DOLLARS
------ ------------- ----------- 370

BILLIONS
_ DEC.

7 21

4

361.1
362.4
360.6
360.9
358.0
357.4

is

JAN

J

13

FEB

1

15 29 12 26 10 24

1977

7

21

3

19

2

16 50

13 27

11

25

8 22

6 20

5 17 31

14 28

1978

LATEST DATA PLOTTED WEEK ENDINGt JANUARY 31, 1979
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
THE HONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AND COIN HELD BY THE NONBANK PUBLIC.

MONEY STOCK (Ml
COMPOUNDED ANNUAL RATES OF CHANGE,
2/1/78

5/3/78

6/28/78

8/2/78

AVERAGE OF FOUR WEEKS ENDING,

8/30/78

10/4/78

11/1/78 11/29/78

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
6/28/78
8/ 2/78
8/30/78
10/ 4/78
11/ 1/78
11/29/78
1/ 3/79
1/31/79

8. 1
7.4
7.7
8.6
7.8
6.8
6.2
5. 1


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

6.8
7.5
9.0
7.6
6.2
5.5
4. 1

6.9
9.5
7.4
5.5
4.8
3. 1

12. 1
8.4
5.7
4.8
2.7

7.9
4.6
3.8
1.5

“1 . 1
0.0
-1.9

-0.2
-2.6

-2.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
12.5
12.0
I 1.5

1 1.5

I 1 .0
10.5
10.0

9.5
9.0
CORPORATE AAA 80ND5
8.5
’RIME BANK
.PAN RATE

8.0
7.5

90 DAY CD
7.0
COMMERCIAL PAPER

6.5
6.0

MUNICIPAL
BONDS##

5.5

2

JAN

16 SO

14 28

II

23

8 22

6

20

3

0

17

FEB

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. FEBRUARY 9, 1979

1979
DEC.

JAN.

FEB.

90 DAY
CD'S aaefc

PRIME
COMMERCIAL
PAPER
4-6 MONTH

PRIME
BANKERS’
ACCEPTANCES

CORPORATE
Aaa BONDS

MUNICIPAL
BONDS »BK

10.66
10.64
10.53
10.68
10.96
10.88
10.71
10.49
10.44
10.20
10.13

10.28
10.32
10.36
10.50
10.61
10.55
10.40
10.36
10.16
10.07
9.98

10.52
10.38
10.37
10.78
10.73
10.65
10.41
10.29
10.11
9.92
10.01

9.04
9.06
9. 12
9.24
9.27
9.26
9.26
9.28
9.24
9. 19
9.20

6.29
6.29
6.45
6.67
6.61
6.58
6.50
6.48
6.30
6.22
N.A.

1
8
15
22
29
5
12
19
26
2
9 *
16
23

* AVERAGES OF RATES AVAILABLE.
BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
*0»t SEVEN-DAY AVERAGES OF SECONDARY MARKET RATES FOR THE WEEK END ING WEDNESDAY TWO DAYS
EARLIER THAN DATES SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE.
N.A. - NOT AVAILABLE


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

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
n.o

PERCENT
— II .0

10.5

10.0

3-5 YEAR
TREASURY SECURITIES

FEDERAL FUNDS RATE

DISCOUNT RATE

THREE-MONTH TREASURY
BILL MARKET YIELD

*

,0

DEC
1977

JAN

FEB

MAR

Z4

7

2)

APR

3

19

MAY

z

16

JUN

30

14 26 11

JUL
'<”-8

AUG

23

6 22

SEP

6 20

OCT

3

17

NOV

I

IS 29

DEC

12

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING, FEBRUARY 9,

1979
DEC.

JAN.

FEB.

1
8
15
22
29
5
12
19
26
2
9
16
23

FEDERAL
FUNDS am
9.85
9.87
9.79
9.75
10.25
10.59
9.97
10.05
10.05
10.12
10.06

3-MONTH
TREASURY
BILL
8.98
8.93
8.93
9.28
9.25
9.34
9.30
9.44
9.34
9.28
9.21

26

JAN
F
1979
1979

6-MONTH
TREASURY
BILL ***

1-YEAR
TREASURY
BILL

3-3 YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

9.33
9.22
9.26
9.52
9.58
9.55
9.44
9.53
9.48
9.38
9.31

9.29
9.32
9.28
9.61
9.65
9.61
9.61
9.61
9.46
9.31
9.32

9.01
9.02
9. 12
9.41
9.48
9.46
9. 46
9.43
9.27
9.02
9.00

8.71
8.75
8.80
8.94
8.94
8.96
8.97
8.97
8.89
8.81
8.87

* AVERAGES OF RATES AVAILABLE.
** SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE
SHOWN.
___ <MJrENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE

?asiu£


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

couputed bv the federal reserve

BANK OF ST. LOUIS.

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

NET TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF OOLLARS
520 r-------- 1---------- 1--------

ILL IONS OF OOLLARS
—I------------- -------- 520

PIIU.QM&
514.8

515.5
516.0
516.-4

lllll 1..LL
1

JAN

13

1

13 29

12

26

10 24

T

21

3

19

2

16 30

1977

13 ZT

SEP

JUN
JUL
1978

FEB

11

23

8 22

6

20

3

IT

31

M

OCT

1979

LATEST DATA PLOTTED WEEK ENDINGt JANUARY 31, 1979
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
* NET TIME DEPOSITS ARE DEFINED AS: SAVINGS DEPOSITS TIME OEfOSITS OPEN ACCCHJNT PLUS TIME
CERTIFICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME
1F l£ATESOFDEF°S ITISSUED IN
DENOMINATIONS OF 8100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.

NET TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF FOUR WEEKS ENDINGt
2/1/78

5/3/78

8.3
8.7
9.6
10.0
10. 1
10. 1
9.3
8.7

10.0
1 1.3
11.5
11.4
11.2
10.0
9. 1

6/28/78

8/2/78

8/30/78

10/4/78

1 1.6
11.1
8.8
7.5

10.3
7.5
6.1

11/1/78 11/29/78

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
6/28/78
8/ 2/78
8/30/78
10/ 4/78
11/ 1/78
11/29/78
1/ 3/79
1/31/79


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

12.6
12.5
12. 1
1 1.7
10. 1
9.0

13.7
12.8
12. 1
10.0
8.7

6.0
4.7

2.5

PREPARED BY FEDERAL RESERVE BANK OF ST, LOUIS

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
AVERAGES OF DAILY FIGURES
StA^UNALLY ADJUSTED

BILLIONS OF DOLLARS
275 ------------ 1------------,---------

BILLIONS OF DOLLARS

------------------- ----------- 1 275
gILL IQNS.
DEC.
— JAN.
262.9
259.6
258.9

i-i I 1 I I I
7

4

DEC

JAN

IS

>13

>

FEB

MAR

13

29

12 26 10 U

APR

MAY

I877

7 21

3

JUN

JUL

19

2

16 30

13 27

11

23

6 22

3

1978

LATEST DATA PLOTTED WEEK ENDING, JANUARY 31,

17

31

M

26

1979
1979

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
COMPOUNDED ANNUAL RATES OF CHANGE
Z/1/7B

5/3/78

6/28/78

8/2/78

AVERAGE OF FOUR WEEKS ENDING,

8/30/78

10/4/78

11/1/78 11/29/78

“3.1
-5.9

-3 4
-6.9

TO THE AVERAGE
OF FOUR WEEKS
ENDING,
8/28/78
8/ 2/78
8/30/78
10/ 4/78
11/ 1/78
11/29/78
1/ 3 A 9
1/31/79

7.8
7.1
7.3

6.2
6.8

8.2

8.4

7. 1
5.7
5.0
3.4

6.6

6. 1
8.8
6.2

4.8
4.0
1.9

3.8
2.9
0.5


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

1 1.6
7. 1
3.7

2.6
-0.2

6.3
2.1
1.3
-1.7

-7.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

CURRENCY COMPONENT
OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUS IEU

LLIONS OF DOLLARS

BILLIONS OF DOLLARS
------ —-------------------- 100

BIMJQNS
97.6
97.8
98.0
98.0

JAN.

98.6

I I I I

I I 1 1 1 I 1.1
DEC

4 18
JAN

1 IS
FEB

1

13 29

12

26

10 24

T 21

3

19

2

16 30

13 27

SEP

11

23

3

8 22

IT

31

14 28

OCT

1977

LATEST DATA PLOTTED WEEK ENDINGt JANUARY 31,

1979

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS‘ H.6 RELEASE.

CURRENCY
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
8/2/78 8/30/78 10/4/78
11/1/78 11/29/78
5/3/78 6/28/78
2/1/78
TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
6/28/78
8/ 2/78
8/30/78
10/ 4/78
11/ 1/78
11/29/7B
1/ 3/79
1/31/79

8.8
8.4
8.9
9.8
9.6
9.8
9.7
9.8


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

8.
9.
10.
10.
10.
10,
10

1
0
4
1
3
1
2

9. 1
11.3
10.6
10.8
10.4
10.5

13.7
1 2. 1
1 1.9
1 1.3
l 1.2

12.3
12.0
11.1
1 1.2

9.9
9.6
9.9

10.0
10.4

9.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
ALL MEMBER BANKS
BILLIONS OF DOLLARS

IN THE NATION

AVtKAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

3,5 r---------1---------- 1--------

Ilia

------------------- -------- “3 35

MILLIONS

2

JAN

16 30

13 27

U

23

8

22

6 20

FEB
1978

1979

LATEST DATA PLOTTED WEEK ENDING: FEBRUARY 7, 1979

BUSINESS LOANS

(COMMERCIAL AND

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
144 -------------- 1------------1------------1-----------

—
“ COMPOUNDED ANNUAL RA TES
— OF CHANGE. AVERAGE 0
_ THE FOUR WEEKS END INIG
DECEMBER 27, 1978 FR OM

__ OCT.
SEP.
“ AUG.
— JUL.
_ JUN.
MAR.

25,
27,
30,
26,
28,
29,

978
978
978
978
978
978

_

-

4.7
7.9
7.7
7.7
6.8
11.9

-

______

i

J
/

“
130
128

NO NEW DATA AVAIUUJLE

—

130
-

128
-

126

126

S'

124

122

_

1 97 f

-

120
I 18
Ulli-l

i

0
NOV

11

DEC

-U 1

111
1111
a 22 8 22
FEB
MAR

111
5 19
APR

1111
1 1 1
3 17 81
MAY
JUN

1977

111

.mi 0-1 1

millions

15 29

JUL

1978

AUG

SEP

------

OCT

NOV

13 27

DEC

10 24

JAN
1979

WEEK ENDING: DECEMBER 27.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

124

NOV. 22
139,857
-----122
29
139,733DEC.
6
139,778
___
120
13
139,166
20
139,358"
I 18
27
139,471
-----............................. uni’
.111

0

12
CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
BILLIONS OF DOLLARS

WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

10*
102
100

LATEST DATA PLOTTED WEEK ENDING. JANUARY SI,

19T9

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 C0M4ERCIAL BANKS.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS