Full text of U.S. Financial Data : Week Ending: January 21, 1981

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

A/C//I/.

0/1 r/1

Week ending: January 21, 1981
library;
m

This week the Board of Governors released a revision of the monev
stock measures and related data to include "benchmark" adjustments to the
components of the monetary aggregates. These adjustments incorporate
revised estimates of deposit liabilities of nonmember banks based on Call
Keports for December 1979 and March 1980. In addition to these revisions
daily deposit data for all nonmember commercial banks with total deposits’
greater than $15 million, as of December 1979, were incorporated into the
series. These nonmember banks have been reporting daily deposit data since
November of last year, in conjunction with the implementation of the
onetary Control Act of 1980. This revision also includes revised estimates
ot deposits at credit unions and other deposit items at all thrift institutions.
....
The benchmark adjustments had only a minor impact on the levels
°f Vr,1A and M*B- Growth rates of the old and revised series are also similar,
aS‘UUlft?tel!n the table below- A11 money stock data and related series
published in this release are on the revised basis.
Growth Rates of MIA and M1B: Old and Revised Series
(Compounded annual rates of change: seasonally adjusted)
MIA

Period
1980/1
1980/11
1980/m
1980/IV
1979/1V- 1980/IV

M1B

Old

Revised

Old

4.9 %
- 3.8
11.4
8.7
5.1

4.6 %
- 4.3
12.0
8.4
5.0

6.1 %
- 2.3
14.2
11.3
7.1

Revised
5.8 %

-

9, 4
15.5
11 3

7^3

The Board of Governors released the following statement regarding
the most recent monetary data: "The weekly monetary data must be
interpreted with particular caution during the current period, when NOW
accounts are being introduced on a nationwide basis at depository institutions
accompanied by heavy promotional efforts. Very large shifts of funds into
interest-bearing checking accounts have been evident in early January and
have distorted monetary statistics. The significance of these flows will be in
substantial part dependent on the ultimate sources of the funds. Because of
the irregularity of deposit and other flows, it will take some time to assess the
impact of these movements. Weekly data around year end are, in any event
subject to erratic fluctuations. As these extraordinary flows subside over the’
course of coming weeks, more reliable judgments will be possible about the
trend of deposit growth."
_________

Prepared by Federal Reserve Bank of St. Louis


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

Released: January 23, 1981

2
ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
I 70

BILLIONS
168

163.8
163.8
162.6
163.7
162.6
163.8

166

164

162

156

154

152
150

I I I I

Mil
5

19

2

16 30

13 27

12 26

9 23

7 21

NOV
DEC
1979
LATEST DATA PLOTTED WEEK ENDING: JANUARY 21, 1981
THE ADJUSTED MONETARY BASE CONSISTS OF: ( 1 ) MEMBER BANK RESERVES AT THE FEDERAL RESERVE
BANKS. (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF
COMMERCIAL BANKS), AND (3) AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES.
THE
MAJOR SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT. DATA ARE COMPUTED
BY THIS BANK.
A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM
THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE

AVERAGE OF FOUR WEEKS ENDING:

1/23/80

4/23/80

6/18/80

7/23/80

8/20/80

6,5
7. 1
8.3
8.8
8.7
9.2
9.2
8.2

7.5
9.5
10.0
9.6
10.3
10. 1
8.6

12.5
12.3
11.2
11.8
11.4
9.3

13.7
1 1.8
12.4
11.7
9.2

9.9
11.3
10.8
8.0

9/24/80 10/22/80 11/19/80

TO THE AVERAGE
OF FOUR WEEKS
END 1NG:
6/18/80
7/23/80
8/20/80
9/24/80
10/22/80
11/19/80
12/24/80
1/21/81


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

11.1
10.4
6.9

11.7
6.6

3.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ADJUSTED BANK RESERVES u
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
50 ---------- 1---------- 1----------

BILLIONS OF DOLLARS

BILLIONS
47.6
47.5
45.7
46.2

5

19

NOV
DEC
1979

2

16 30 13 27

JAN

FEB

12 26

MAR

9 23

APR

2

7 21

MAY

16 30

LATEST DATA PLOTTED WEEK ENDING: JANUARY 14,

13 27 10 24

AUG

JUN
JUL
1980

SEP

8 22

OCT

5 19

NOV

DEC

JAN
1981

1981

1/ ADJUSTED MONETARY BASE LESS CURRENCY HELD BY THE NONBANK PUBLIC (MEMBER BANK RESERVES AT
FEDERAL RESERVE BANKS (♦) CURRENCY HELD BY COMMERCIAL BANKS).

ADJUSTED BANK RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE

AVERAGE OF FOUR WEEKS ENDING:

1/16/80

4/16/80

6/11/80

7/16/80

8/13/80

1 . 1
1.8
2.8
5.5
4.9
6.9
8.4
5.7

0.9
2.8
7. 1
6.0
8.8
10.6
6.7

6.7
12.3
9.4
12.7
14.4
8.9

16.7
1 1.3
15.2
16.7
9.7

12.2
17. 1
18.5
9.8

9/17/80 10/15/80 11/12/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/11/80
7/16/80
8/13/80
9/17/80
10/15/80
11/12/80
12/17/80
1/14/81


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

13.5
16.7
6.2

25.1
8.1

0.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

4
MONEY STOCK ( Ml A )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

MILLIONS
_ DEC.

386.0
386.2
383.3
380.4
382.8
374. 1

JAN.

NOV

5 19
DEC

2

16 30

13 27

12 26

S 23

1980
LATEST DATA PLOTTED WEEK ENDING:

JANUARY 14,

1981

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
MIA CONSISTS OF CURRENCY AND COIN PLUS COMMERCIAL BANK DEMAND DEPOSITS HELD BY THE NONBANK
PUBLIC EXCLUDING THOSE HELD BY FOREIGN BANKS AND OFFICIAL INSTITUTIONS.

MONEY STOCK (MIA)
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
1/16/80

4/16/80

6/11/80

7/16/80

8/13/80

2.0
5.3
8.0
7.6
8.3
6.8
3.5

14.5
15.7
13.3
13.3
10.2
5.6

1 7.4
13.5
13.5
9.7
4.3

12. 1
12.4
8.2
2.2

9/17/80 10/15/80 11/12/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/11/80
7/16/80
8/13/80
9/17/80
10/15/80
11/12/80
12/17/80
1/14/81

-1.9
0.7
2.7
4.8
4.8
5.6
4.7
2.5


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

9.2
4.7
-2.0

4.4
-4.1

-10.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK ( M1B )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
425

BILLIONS
— DEC.

413.4

— JAN.

407.2
419.2
416.9

I 1 I I
NOV

DEC

FEB

MAR
1980

LATEST DATA PLOTTED WEEK ENDING: JANUARY 14,

1981

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
MlB CONSISTS OF MIA PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITARY INSTITUTIONS.

MONEY STOCK ( MlB )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
1/16/80

4/16/80

6/11/80

4.2
7.9
10.8
10.4
11.2
9.5
8.3

18.9
19.8
17. 1
17.0
13.6
11.5

7/16/80

8/13/80

9/17/80 10/15/80 11/12/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/11/80
7/16/80
8/13/80
9/17/80
10/15/80
11/12/80
12/17/80
1/14/81

-0.6
2.6
4.9
7. 1
7.2
8.0
7.2
6.4


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

21.2
17. 1
16.9
12.8
10.4

15.4
15.7
1 1 . 1
8.5

12.3
7.4
5.0

7.0
4.1

-1.0

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

6
YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

22.0

22.0
21.0

21.0
PRIME BANK
LOAN RATE

20.0

20.0
19.0
18.0
17.0
16.0
15.0
14.0
13.0

13.0
(CIAL PAPER
CORPORATE
Aaa BONOS

12.0
11.0

1 1.0

10.0
90 DAY CD'S
9.0
8.0
MUNICI PAL
BONDS**

7.0
I I I I

2

16 30 14 28 11

25

4 18

2

16 30 13 27

11

25

8 22

5

10

3 17 31

14 28 12 26

NOV
1979

1980

1981

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JANUARY 23,

90 DAY
CD’S

1981
NOV.

DEC.

JAN.

7
14
21
28
5
12
19
26
2
9
16
23 *** ***
30

14.98
14.95
15.79
16.97
17.58
19.93
20.23
17.60
16.99
16.55
17.42
17.83

B 23

DEC
1981

PRIME
COMMERCIAL
PAPER ***

PRIME
BANKERS’
ACCEPTANCES

CORPORATE
Aaa BONOS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS **

14.48
14.44
15.25
16. 17
16.84
18.62
18.68
16.72
15.80
15.43
16.33
16.68

14.68
14.64
15.46
16.58
17.28
19.23
19.24
16.84
16.28
16.03
17.08
17.39

12.96
12.93
12.96
13.03
13. 15
13.47
13.49
12.89
12.83
12.59
12.76
12.88

14.56
14.61
14.61
14.79
14.84
15.21
15.36
15. 19
15.09
14.93
14.96
15.04

9.64
9.50
9.50
9.61
9.84
10.42
10.56
9.99
9.76
9.49
9.57
N. A.

* AVERAGES OF RATES AVAILABLE.
** BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
*** DATA ARE 4-MONTH COMMERCIAL PAPER RATES.
N.A. - NOT AVAILABLE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
21 .0

21.0
20.0

20.0
FEDERAL FUNDS RATE
19.0

18.0

18.0
17.0
16.0
15.0
14.0

13.0

13.0

12.0

12.0
DISCOUNT
RATE

11.0

1 1.0
10.0

5-YEAR
TREASURY SECURITIES

9.0
8.0
3-MONTH
TREASURY BILL
7.0
I I I I
4

18

2

16 30 13 27

II

25

8 22

5

19

3 17 31

14 28 12 26

9 23

JUN
JUL
1980
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JANUARY 23,

1981
NOV.

7
14
21
28
DEC.
5
12
19
26
JAN.
2
9
16
23 *
30

FEDERAL
FUNDS v*
13.99
14.65
15.22
17.43
17.72
18.82
19.83
19.44
18.45
20.06
19.64
19.35

3 MONTH
TREASURY
BILL
13.28
13.29
13.98
14.31
14.98
16.76
16.21
14.62
14.31
14.31
15. 19
15.64

6-MONTH
TREASURY
BILL XXX
13.27
13.23
13.92
14.03
14.55
15.07
15.42
14.03
13.41
13. 18
14.23
14.47

1-YEAR
TREASURY
BILL
12.47
12.21
12.74
13.22
13.43
13.75
13.71
12.40
12.38
12.26
12.50
13.03

5-YEAR
TREASURY
SECURITIES
12.94
12.59
12.77
13.06
13.40
13.68
13.69
12.50
12.54
12.53
12.69
12.92

1981

LONG-TERM
TREASURY
SECURITIES
12.41
12.28
12.23
12.26
12.39
12.74
12.63
11.79
11.92
11.81
12.02
12.18

» AVERAGES OF RATES AVAILABLE.

XX SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.9 RELEASE.

XXX NEW ISSUE RATE

RATES ON LONG-TERM TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST. LOUIS.
TREASURY BILL YIELDS ON DISCOUNT BASIS.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

0

8
MULTIPLIERS 1/
CURRENCY OF MONEY STOCK MEASURES 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSlbU

RATIO
2.9

RATIO
2.9

RAIIO

DEC.

MONEY MULTIPLIERS

.358

1

2:301

_

RATIO

1981

DEC.

1

I I I I 1 I I 1

1 I 1 1 L

I l I I I I I I I I I I I I I I

LATEST DATA PLOTTED WEEK ENDING:

JANUARY 14,

1981
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

120

1

1

1

120

1
-

-

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
-----THE FOUR WEEKS END 1 G
JANUARY 14, 1981 FRC M
- THE FOUR WEEKS END 1 G:
- NOV.
OCT.
- SEP.
AUG.
-----JU L.
AP R.
- JA N.

12, 1980
15, 1980
17, 1980
13, 1980
lb
1980
16
1980
16

5.6
7.

—
-

8.Z

8.
'V/

9.e
9.

~'v/
-

CURRE NCY

-

-

-

1981

r

V-------

-

•T
1 1 1
7 21
NOV

DEC

111

1111

111

111

1111

111

111

5 19
DEC

JAN

FEB

MAR

APR

MAY

JUN

1979
LATEST DATA PLOTTED WEEK ENDING:

Mil
JUL
1980

111

111

AUG

SEP

BILL 10NS

1;
4 III!

;

-

1
~
1111
1 1 1 1 1 1 1 11 1111
1 14 2
OCT
NOV
DEC
JAN
1981

JANUARY 14

1/ RATIO OF MONEY STOCK (MIA) OR (M»B> TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR


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

IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

DEMAND DEPOSI T COMPONENT OF MONEY STOCK ( Ml A )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
285

BILLIONS
269.9
269.9
266.6
263.5
266. I
257.7

I I I I
5

NOV

19

2

16 30 13 27 12 26

DEC

FEB

9 23

7 21

MAR
1980

LATEST DATA PLOTTED WEEK ENDING: JANUARY 14,

1981

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

DEMAND DEPOSIT COMPONENT OF MONEY STOCK (MIA)
COMPOUNDED ANNUAL RATES OF CHANGE,
1/16/80

4/16/80

6/11/80

7/16/80

AVERAGE OF FOUR WEEKS ENDING:

8/13/80

9/17/80 10/15/80 11/12/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/11/80
7/16/80
8/13/80
9/17/80
10/15/80
11/12/80
12/17/80
1/14/81

-5.9
-2.4
0.0
2.9
2.9
3.9
2.9
-0.2


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

-1.4
2.7
6.8
6.2
7.2
5.4
1.0

15.2
17.6
14.2
14. 1
10.3
3.9

19.9
14.4
14.2
9.6
2.2

13. 1
13.4
8.0
-0.4

8.2
3.0
-6.1

3.0
-8.7

-17.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10
SAV NGS PLUS SMALL TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
490

PU-U.QN&
DEC.

485

479.9
480.0
480. 1
481.5
480. 1
481.3

480
475
470
465
460

I I I I
519

2

163013 27 12 26

FEB

9 23

721

MAR
1980

LATEST DATA PLOTTED WEEK ENDING: JANUARY 14,

1981

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN •100,000.

SAVINGS PLUS SMALL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE

AVERAGE OF FOUR WEEKS ENDING:

1/16/80

4/16/80

6/11/80

7/16/80

8/13/80

8.6
9.5
10.0
9.9
9.8
10.2
10.5
10.0

10.7
1 1.2
10.9
10.5
10.9
11.3
10.5

13.3
12.0
11.3
11.7
12.0
10.9

11.1
10.3
11.1
11.7
10.4

9.2
10.5
11.4
9.9

9/17/80 10/15/80 11/12/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/11/80
7/16/80
8/13/80
9/17/80
10/15/80
11/12/80
12/17/80
1/14/81


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

11.1
12. 1
10.0

13.6
10.5

9. 1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

billions of dollars

billions of

dollars

.5
1981
DEC.

MILLIONS
17
24

1505
1649

14

1332
1419

5

19

2

NOV
DEC
1979

16 30

JAN

13 27 12 26

FEB

9 23

MAR

APR

LATEST DATA PLOTTED WEEK ENDING:

7 21

4 18

MAY

JUN
JUL
1980

JANUARY 21,

2

16 30 13 27

AUG

10 24

SEP

8 22 5 19

OCT

NOV

3 17

31

DEC

14 28

JAN
1981

1981

BUSINESS LOANS
( COMMERCIAL AND

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
178 ----------1---------- 1------------- 1---------176
174
172
170
168
166
164
162

—NOV.
“ OCT.
“SEP.
- AUG.
- JUL.
- APR.
_JAN.

12, 1980
15, 1980
17, 1980
13, 1980
16, 1980
16, 1980
16, 1980

-

176

./ -

16.8
17.0
17.4
18.7
17.9
9.5
9.8

7V

T
-

r

-

/

7^

A

-

/

t

160
158

MILLIONS

“

171,905
172,165
170,367
172,168
172,195
172,945

“
~
—
“
—

154
DEC. 10
17
24
31
JAN. 7
14

N

150
1 1 1

164
162

156
198

pLi

5

168
166

-

154

148

-

-

152

174
172
170

-

-

156

BILLIONS OF DOLLARS
178

“ COMPOUNDED ANNUAL RA TES
OF CHANGE. AVERAGE
- THE FOUR WEEKS END IN G
- JANUARY 14, 1981 FRC
- THE FOUR WEEKS END INIG:

i i i

NOV
DEC
1979

M n

111

111 -Ll 1 1

1 1 1

16 30 13 27 12 26 9 23
JAN
FEB
MAR
APR

LATEST DATA PLOTTED WEEK ENDING:


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

JANUARY 14,

1 1 1

1 1 1 1

-Ll Ll Ll..1

16 30 13 27

JUN

JUL
1980

AUG

mu i i i i i i i i i i i

10 24

SEP

3 17 31

OCT

DEC

14 2

JAN
1981

1981
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

152
150
148
0

12
LARGE TIME DEPOSITS

ALL COMMERCIAL

BANKS

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLI0NS 0F dollars

I I I I
1979
LATEST DATA PLOTTED WEEK ENOING:

1980
JANUARY 14,

1981

1981

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF $100,000 OR MORE.


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