Full text of U.S. Financial Data : Week Ending: February 9, 1972
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7" / F/zv/i fsicia £. a atai Week ending: February 9, 1972 ^5£rt p LIBRARY jim os to http://fraser.stlouisfed.org t Federal Reserve Bank of St. Louis The nation's money stock, defined as demand deposits and currency of the nonbank public, averaged $229.1 billion in the four weeks ending February 2. The money stock has risen at a 1.2 percent annual rate in the last six months and at a slightly more rapid 2.1 percent rate in the last three months (page 5). By comparison, money rose at a trend rate of 6.3 percent from late 1966 to July 1971. Total time deposits have risen at a 14.5 percent annual rate in the last six months and at a 17.9 percent rate in the past three months (page 6). Net time deposits, total time deposits less large certificates of deposit at large commercial banks, have increased at about the same rates as total time deposits during the last six months (page 6). Short-term market interest rates have con tinued to decline this year and are considerably below their levels of early August. The Federal funds rate, a key money market rate, averaged 3.25 percent in the five days ending February 2, down from the 4 percent level in late December and about 5.6 percent in August (page 11). Yields on three-month Treasury bills averaged 3.15 percent in the first half of this week, down about 60 basis points from late December and about 2 percentage points from August (page 10). Long-term market interest rates are below their levels in early August but have not continued to decline in recent months as have short-term market rates. Highest-grade corporate bond rates averaged 7.27 percent this week, about the same as the rate in early December (page 10). The rate on long-term Government securities averaged 5.71 percent this week, up 13 basis points from early December (page 10). Prepared by Federal Reserve Bank of St. Louis Released: February 11, 1972 % 2 MONETARY BASE 1/ MULTIPLIERS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS I BILLIONS OF DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING — FEBRUARY 9, 1972 FROM THE FOUR WEEKS ENDING, - DEC. NOV. OCT. ----- SEP. AUG. _ JUL. JUN. 8, 10, 6, 8, 11, 7, 9, 1971 1971 1971 1971 1971 1971 1971 8.7 7.9 5.8 5.34.9 6.3 5.8 MONETARY BASE S1Z MILLIONS. 111111111 LATEST DATA PLOTTED WEEK ENDING, FEBRUARY 9, 1972 RATIO 2.9 RATIO 2.8 MULTIPLIER 2.7 2.6 2.5 RATIO DEC. 2' 2.4 2 16 30 13 27 JAN 10 24 10 24 FEB 7 21 5 19 APR MAY 2 16 30 14 26 11 LATEST DATA PLOTTED WEEK ENDING, FEBRUARY 2, 25 9 22 6 20 3 17 OCT NOV 1 15 29 12 26 JAN 9 23 FEB 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 TH£ 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 1/ ALL MEMBER BANKS 3 IN THE NATION FEDERAL RESERVE CREDIT v AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 34.0 34.0 COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF _ THE FOUR WEEKS ENDING FEBRUARY 9. 1972 FROM THE FOUR WEEKS ENDING) 33.5 33.0 DEC 33.5 33.0 15.3 32.5 AUG. 32.5 RESERVES 11 32.0 32.0 31.5 31.5 31.0 31.0 1912. BILLIONS 30.5 30.5 30.0 30.0 0 82 - COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF ___ THE FOUR WEEKS ENDING _ FEBRUARY 9. 1972 FROM THE FOUR WEEKS ENDING) DEC. 8, 1971 ----- NOV. 10, 1971 OCT. 6, 1971 SEP. 8, 1971 “ AUG. 11, 1971 20.9 15.7 10.0 11.7 11.0 12.6 ----- JUN 11.9 80 _ 78 FEDERAL RESERVE CREDIT ~ 76 74 1912. 72 MILLIONS 70 2 16 30 13 27 10 24 10 24 JAN FEB 7 21 S It APR MAY 2 16 30 14 26 11 LATEST DATA PLOTTED WEEK ENDINGi FEBRUARY 9, JUL 25 6 22 AUG 6 20 5 17 OCT NOV 1 15 20 12 26 JAN 0 23 FEB 1972 1/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. 2/ DEFINED TO INCLUDE HOLDINGS OF SECURITIES. LOANS. FLOAT AND "OTHER" ASSETS, ADJUSTED FOR RESERVE REQUIREMENT CHANGES AND CHANGES IH REQUIREMENTS DUE TO SHIFTS IN DEP&SITS AMONG 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 MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 180 BILLIONS 1/5.9 175 1/6.5 1/6.9 170 165 160 2 16 30 13 27 10 24 10 24 7 21 5 19 APR MAY 1970 2 16 30 H 28 11 25 1-LL1 8 22 6 20 3 17 OCT NOV 1 15 29 12 *6 1971 LATEST DATA PLOTTED WEEK END I NOi FEBRUARY 2, 9 23 JAN FEB 1972 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE , 2/3/71 6/2/71 6/30/71 9.0 6.9 3.9 3.2 2.2 2.0 2.5 6.5 2.8 2.2 1.2 1.2 1.8 AVERAGE OF FOUR WEEKS ENDING* 8/4/71 9/1/71 -1.5 -0.7 -1.2 -0.7 0.3 -2.0 -2.2 -1.3 0.0 9/29/71 11/3/71 12/1/71 TO THE AVERAGE OF FOUR WEEKS ENDING* 6/30/71 8/ 4/71 9/ 1/71 9/29/71 11/ 3/71 12/ 1/71 1/ 5/72 2/ 2/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12.7 12. 1 10.8 8.8 7.7 6.7 6. 1 6. 1 -1.0 -0.2 1.2 -0.7 1.4 3.3 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK AVERAGES OF PAILY f ' G JHtES SEASON*-.. < AD-JJSTED BILLIONS OF DOLLARS -------------------- ----------- 235 228.5 228.5 229.0 229.2 229.8 2 ie M IJ 27 10 24 10 24 JAN FEB 7 21 APR 5 19 MAY 2 16 30 14 28 11 LATEST DATA PLOTTED WEEK ENDINGt FEBRUARY 2, 25 6/30/71 9.4 7.1 4.7 3.9 2.9 2.9 3.3 6.8 3.8 3. 1 2.0 2. 1 2.7 3 17 1 13 29 12 26 9 23 JAN FEB H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE, 6/2/71 6 20 ;972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' 2/3/71 « 22 AVERAGE OF FOUR WEEKS ENDING. 8/4/71 9/1/71 -0.3 0.4 -0.4 0.3 1.2 -0.5 -1.2 -0. 1 1.0 9/29/71 11/3/71 12/1/71 -0.5 0.7 1.9 0.3 2. 1 4.4 TO THE AVERAGE OF FOUR WEEKS ENDING. 6/30/71 8/ 4/71 9/ 1/71 9/29/71 11/ 3/71 12/ 1/71 1/ 5/72 2/ 2/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11.9 1 1.6 10.4 8.7 7.7 6.7 6.3 6.3 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 6 TIME DEPOSITS ALL COMMERCIAL BANES AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 270 260 TOTAL TIME DEPOSITS 2S0 240 230 NET TIME DEPOSITS* 220 - 210 200 2 1« 30 15 27 10 24 10 24 JAN FEB 7 21 5 19 APR MAY 1970 2 16 30 H 28 11 25 8 22 6 20 • 17 OCT NOV 1 19 t« 12 26 1971 LATEST DATA PLOTTED WEEK ENDINGi FEBRUARY 2, 9 23 JAN FEB 1972 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. * NET TIMEDEPOSITS ARE DEFINED AS. SAVINGS DEPOSITS TIME DEPOSITS OPEN ACCOUNT PLUS TIME CERTIFICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME _____OF __ ___ IME C________ CERTIFICATES DEPOSIT ISSUED IN DENOMINATIONS OF 9100.000 OR MORE BY LARGEWEEKLY REPORTING COMMERCIAL BANKS. NET TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, 2/3/71 6/2/71 21.3 17.8 15.7 14.9 14.7 14.9 15.4 15.9 7.5 6.0 6.7 8.2 9.4 11.1 12.4 6/30/71 AVERAGE OF FOUR WEEKS END 1NGi 8/4/71 9/1/71 5.9 8.8 10.5 12.7 14. 1 1 1.5 12.9 15.0 16.3 9/29/71 11/3/71 12/1/71 14.8 16.7 17.9 18.6 19.7 21.2 TO THE AVERAGE OF FOUR WEEKS ENDING. 6/30/71 8/ 4/71 9/ 1/71 9/29/71 11/ 3/71 12/ 1/71 1/ 5/72 2/ 2/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3.6 5.3 7.5 9.0 11.1 12.4 PRFPARFD BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK PLUS TIME DEPOSITS A/FRAGES OF DAILY FIGURES SFASONALlY AD <UStED 3I -U0NS OF DOLLARS 31:0 t=---------- .----------- , BILL!ONS OF DOLLARS ------- --------- -------=, 510 MONFY STOCK PLUS 'OTAL TIME DFP0S1TS “ MONEY STOCK PLUS NET TIME DEPOSITS** 2 16 30 13 27 10 24 10 24 JAN FEB 7 21 APR 9 10 MAY 2 16 90 14 2S 11 23 LATEST DATA PLOTTED WEEK ENDINGi FEBRUARY 2, 8 22 6 20 9 <7 OCT NOV I 13 20 12 26 9 23 JAN FEB 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. *86 M* IS DEFINED ASi CURRENCY. DEMAND DEPOSITS PLUS NET TIME DEPOSITS (SEE PAGE fl). MONEY STOCK PLUS NET TIME DEPOSITS (M2) COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF FOUR WEEKS ENDING. 2/3/71 6/2/71 6/30/71 8/4/71 9/1/71 9/29/71 11/3/71 12/1/71 8.3 6.5 5.6 6. 1 6. 1 7.0 7.8 5. 1 4.4 5.3 5.5 6.6 7.5 2.8 4.6 5.0 6.5 7.6 5.5 5.8 7.4 8.5 7.0 8.7 9.8 9.3 10.7 12.6 TO THE AVERAGE OF FOUR WEEKS ENDING. 6/30/71 6/ 4/71 9/ 1/71 9/29/71 11/ 3/71 12/ 1/71 1/ 5/72 2/ 2/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 16.5 1 4.6 12.9 11.7 11.2 10.7 10.8 11.0 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS WEDNESDAY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 2 16 30 13 27 10 Z4 10 24 JAN 7 21 APR FEB 5 19 MAY 2 16 90 H 28 II 25 « 22 BILLIONS OF DOLLARS 6 20 5 IT OCT NOV 1 19 29 12 26 JAN 9 25 FEB LATEST DATA PLOTTED WEEK ENDING. FEBRUARY 2. 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF S100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BAMCS. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MONEY AND TIME DEPOSIT DATA 1972 DEC. JAN. FEB. 1 8 15 22 29 5 12 19 26 2 9 16 23 CERTIFICATES OF DEPOSIT BILLIONS MET TIME DEPOSITS m 32.6 33.2 33.0 33.6 34.0 33.2 33.2 33.2 33.3 33.4 234.5 234.7 236. 1 236.4 238. 1 240.0 240.7 240.9 241.4 242.4 MZ ME 462.1 463.3 483.6 464.2 467.0 468.2 469.2 469.8 470.6 472.2 WWHHM&Y PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MEMBER BANK DEPOSITS 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 IS IT IQ M 10 24 T 21 S 10 APR MAY 2 16 90 14 26 11 28 LATEST DATA PLOTTED SEEK END INCi FEBRUARY 2, JUL 6 22 AUG 6 20 9 17 OCT NOV 1 IS 20 12 26 JAN 6 29 FEB 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. BANK-RELATED COMMERCt JIAL PAPER, EURODOLLAR BORROWINGS OF NONDEPOSIT SOURCES. 1972 DEC. JAN. BILLIONS 29 5 12 19 FEB. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 26 2 CREDIT PROXY CREDIT PROXY ADJUSTED 360.0 361.7 360.9 362.2 362.6 362.4 363.7 365.2 364.8 366.4 366.6 366.1 COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF THE FOUR WEEKS EM) ING FEBRUARY 2. 1972 FROM THE FOUR WEEKS ENDINGi CREDIT CREDIT PROXY PROXY ADJUSTED DEC. NOV. SEP. SEP. AUG. JUN. JUN. 1, 3, 29, 1, 4, 30, 2, 1971 1971 1971 1971 1971 1971 1971 15.3 13. B 10.8 9.9 10.9 10.5 9.6 12.5 12.5 10.7 9.9 10.5 10.2 9.5 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES FNDED FRIDAY PERCENT 8.5 PERCENT ----- ------ CORPORATE AAA BONDS Cl PAL ONDSJKK MMERC DISCOUNT RATE THREE-MONTH TREASURY BILL MARKET YIELD 4 16 DEC 1970 1 IS 2S 12 26 12 26 9 23 JAN FEB MAR APR 7 21 MAY 1.1 I I .1.11 1 I 5I I19I I 3I I 17I I31I I14I I26 J-Li 6 22 II 29 3 16 JUN 2 16 30 13 27 10 24 JUL 1971 AUG SEP OCT NOV DEC JAN FEB 1972 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING! FEBRUARY 11. 1972 DEC. JAN. FEB. 3 10 17 24 31 7 14 21 28 4 1 1 X 18 25 1972 CORPORATE Aaa bonds 3-MONTH TREASURY BILLS 3-5 YEAR GOVERNMENT SECURITIES LONG-TERM GOVERNMENT SECURITIES MUNICIPAL BONDS3M 7.28 7.27 7.24 7.23 7.22 7.19 7.17 7. 16 7.22 7.25 7.27 4.28 4.11 4.04 4.02 3.73 3.59 3.16 3.31 3.46 3.35 3.15 5.52 5.48 5.45 5.43 5.27 5.31 5.20 5.32 5.47 5.55 5.53 5.58 5.59 5.63 5.68 5.60 5.61 5.57 5.61 5.67 5.70 5.71 5.44 5.23 5.21 5.13 5.02 5.03 4.99 5. 17 5.29 5.35 N.A. * AVERAGES OF RATES AVAILABLE. 366 BOND BUYER'S AVERAGE INDEX 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 8.5 11 SELECTED SHORT-TERM INTEREST RATES AVERAGES OF DAILY RATES FNDED FRIDAY PERCENT rp T T I M ill I'TTTT PFH'.ENT COMMERCIAL PAPER 4-T0-6 MONTH FEDERAL FUNDS RATE 1 1* 1 19 28 12 26 12 26 FEB MAR i.l J I 9 23 7 21 MAY 1 18 JUN 2 16 30 13 27 10 24 8 22 5 19 3 17 31 14 28 11 29 JAN LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. FEBRUARY 11, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1972 DEC. JAN. FEB. 3 10 17 24 31 7 14 21 28 4 1 1 X 18 25 PRIME COMMERCIAL PAPER 4-6 MONTH FEDERAL FUNDS PRIME BANKERS' ACCEPTANCES 90 DAY CD'S 901 4.88 4.88 4.75 4.75 4,48 4.38 4.10 3.98 3.88 3.98 4.00 4.33 4.63 3,93 3.70 4.00 3.85 3.55 3.53 3.33 3.20 3.25 4.75 4.58 4.50 4.40 4. 18 4. 10 3.88 3.88 3.85 3.75 3.50 4.89 4.84 4.75 4.66 4.58 4.34 4. 10 4.02 3.97 3.82 3.67 FEB 1972 * AVERAGES OF RATES AVAILABLE, FEDERAL FUNDS LAST FIVE DAYS AVAILABLE 98* DATA ARE SECONDARY MARKET RATES, WEEKLY AVERAGES ENDING WEDNESDAY TWO DAYS EARLIER. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS r- 12 BORROWINGS AND EXCESS RESERVES ALL MEMBER BANKS IN THE NATION AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS EXCESS RESERVES BILLIONS OF DOLLARS T -0.4 NET FREE RESERVES ? 16 SO 15 2T 10 *4 10 *4 JAN FEB T 21 9 10 APR MAY 2 16 90 14 tt II IS JUL 1970 # 22 6 20 5 IT OCT NOV 197J LATEST DATA PLOTTED WEEK ENDING. FEBRUARY 9, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis AUG I 19 » 12 tt JAN 0 29 FEB 1972 1972 MILLIONS 1972 DEC. JAN. FEB. 1 8 15 22 29 5 12 19 26 2 9 16 23 rIserves BORROWINGS - 590 M3 204 29 314 312 105 279 239 264 80 705 59 25 141 216 57 17 13 13 18 43 RESERVES - 115 84 179 170 98 255 88 266 226 246 37 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS