Full text of U.S. Financial Data : Week Ending: January 8, 1975

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

Week ending: January 8r 1975
uibRARVi


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

The money stock has increased at a 4.3 percent annual
rate in the past three months, following three months of growth
at only about a 1 percent rate. All of the aggregates shown in
the table below show faster rates of growth in the period since
mid-September compared to the period from mid-June to mid-Sep­
tember. In the June to September period, all of the aggregates
grew at reduced rates (or declined) compared to the previous six
months.

Annual Rates of Change
mid-Dec. 1973
to
mid-June 1974
Monetary Base
Money Stock
Demand Deposits
Currency
Net Time
Deposits
Total Time
Deposits

7.9 %
6.2
5.1
10.3

mid-June 1974
to
mid-Sept. 1974

mid-Sept. 1974
to
mid-Dec. 1974

5.3 %
0.9
-1.1
7.6

11.7 1
4.3
1.9
11.4

11.0

7.1

9.6

19.4

9.2

13.7

Yields on prime commercial paper and on large certifi­
cates of deposit (CDs) have declined sharply since year—end. In
the first part of this week, yields on prime four- to six-month
commercial paper averaged 8 percent, down from 8.84 percent in
the week ended January 3. Yields on large 90-day CDS averaged
8.57 percent in the week ended January 8, down from 9.36 percent
the week ended January 1. During December these rates
averaged about the same or slightly higher than the levels
reached in November following two months of sharp decline.
Federal Reserve Banks have announced reduction in
their discount rates from 7-3/4 percent to 7-1/4 percent. The
7-3/4 percent rate had been established in early December 1974.

Prepared by Federal Reserve Bank of St. Louis
Released: January 10, 1975

MONETARY BASE

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

116

315.

MILLIONS
1 14

112

110

108

106

104

102

7 21

5 19

NOV

DEC

2

IB 30

13 27

FEB

13 27

MAR

10 24

6 22

5 19

3 17 31

14 28

11

23

9 23

APR

6 20

NOV

1

15 29

DEC

1974
LATEST DATA PLOTTED WEEK ENDINGi JANUARY 8, 1975
THE MONETARY BASE CONSISTS OF MEMBER BANK DEPOSITS AT THE FEDERAL RESERVE AND CURRENCY IN
CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF COMMERCIAL BANKS), ADJUSTED
FOR RESERVE REQUIREMENT CHANGES AND SHIFTS IN DEPOSITS. THE MAJOR SOURCES OF Th£ MONETARY
BASE ARE FEDERAL RESERVE CREDIT AND THE GOLD STOCK. DATA ARE COMMUTED BY THIS BANK.A DETAH-ED DESCRIPTION OF THE SOURCES AND USES OF THE MONETARY BASE IS AVAILABLE AS REPRINT
NO. 31 FROM THE FEDERAL RESERVE BANK OF ST. LOUIS.

COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDINGi
1/9/74

4/10/74

6/5/74

7/10/74

8/7/74

9/11/74

10/9/74

11/8/74

TO THE AVERAGE
OF FOUR WEEKS
ENDINGi
6/ 3/74
7/10/74
8/ 7/74
9/11/74
10/ 9/74
11/ 6/74
12/11/74
1/ 8/75


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

8.5
7.9
7.6
7.3
7. 1
7.6
8. 1
8.2

8.3
7.6
7.1
6.8
7.5
8.4
8.4

5.5
5.4
5.4
6.7
7.9
8.0

5.3
5.3
7.0
8.4
8.4

5.4
7.5
9. 1
9.0

8.9
10.6
10.1

13.0
11.7

11.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MULTIPLIER 1/
FEDERAL RESERVE CRED I T 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

RATIO

MULTIPLIER

1215.
IV.

MI IQ,

27
.529

LATEST DATA PLOTTED WEEK ENDING. JANUARY 1, 1975
BILLIONS OF DOLLARS

102

BILLIONS OF DOLLARS

--------- 1--------- .-------

---- -------- ----------

102

“

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
- THE FOUR WEEKS ENDING
JANUARY 8, 1975 FROM
- THE FOUR WEEKS ENDING.
-----NOV.
OCT.
SEP.
AUG.
—JUL.
APR.
- JAN.
-

6
9
11
7
10
10
9

18.2
FEDERAL RESERVE CREDIT

1974

1215.

7 21

5

19 2

NOV
DEC
1973

16 30

JAN

13 27

FEB

13 27

MAR

10 24 8 22

APR

MAY

5 19

3

JUN
,g

17 31

14 28 11

AUG

SEP

23

9 23

MILLIONS

6 20

4

NOV

DEC

16

I

15 29

1975

LATEST DATA PLOTTED WEEK ENDING. JANUARY 8, 1975
1/

RATIO OF MONEY STOCK

<Ml )

/ MONETARY BASE.

2/ DEFINED TO INCLUDE HOLDINGS OF SECURITIES. LOANS. FLOAT AND *'OTHER* * ASSETS ad iiistph pnn
claIseI 0F°ba5ksENT dataareAseasoGall? adjSIted^this0^? SHIFTS ,n dep6s,ts amonb


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
225

BILLIONS
218.2
216.6
215.6
215.2
215.9

220

215

210

205

I I I I
9

19

2

16 90 19 27

NOV
DEC
1973

FEB

19 27

MAR

10 24

8 22

9

19

3 17 91

14 28 11

AUG

APR

25

9 29

SEP

6 20

4 18

NOV

DEC

1

13 29

1975

1974

LATEST DATA PLOTTED WEEK ENDING. JANUARY 1, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING!
1/2/74

4/3/74

5/29/74

6.4
4.5
3.5
2.6
2.5
3.2
2.3

5.5
3.5
2.2
2.1
3. 1
2.1

7/3/74

7/31/74

9/4/74

10/2/74 10/30/74

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
5/29/74
7/ 3/74
7/31/74
9/ 4/74
10/ 2/74
10/30/74
12/ 4/74
1/ 1/75


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

3.7
5.1
4.2
3.6
3.0
2.9
3.4
2.7

-0.5
-1 . 1
-0.4
1.3
0.4

-1 . 1
-0.2
1.9
0.7

-0.3
2.6
0.9

4.9
1.9

1.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
290 ---------- 1---------- ,--------

BILLIONS OF DOLLARS
----- ---------- ------------- 290

286. D
282.8

NOV
DEC
1973

JAN

FEB

MAR

APR

MAY

JUN
,s

AUG

SEP

NOV

DEC

LATEST DATA PLOTTED WEEK ENDING. JANUARY 1. 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
THE MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AM) COIN HELD BY THE NONBANK PUBLIC.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING.
1/2/74

4/3/74

5/29/7 4

7/3/74

7/31/74

9/4/74

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
5/29/74
7/ 3/74
7/31/74
9/ 4/74
10/ 2/74
10/30/74
12/ 4/74
1/ 1/75


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

10/2/74 10/30/74
•

5.5
6.2
5.4
5.0
4.4
4.4
4.9
4.4

6.9
5.2
4.7
3.8
3.9
4.7
4.0

5. I
4.3
3.2
3.4
4.5
3.7

1.7
0.9
1.8
3.4
2.6

1.2
2.3
4.2
3.1

1.9
4.6
3.1

7.2
4.3

'

'

•'

.

4.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

YI ELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
13.5 r13.0
12.5

12.0
11.5

11.0

E

90 JAY CC •smm

E

A

E

A fL
j

E

ht
v ■Ar
A

>

E
E
E

A

”

r\

"I

T

,

A rr

Vf!

9.0
6.5

E
"*

E

9.5

u

E

\

E

8.5

6.0
7.5

E
V.

E
E

V x

E

^

7.0
6.5

6.0
/y

5.5

E

"—Cl PAL
HB UNI
ONDSW

5.0

E
s

s~

V

/

E

r'—

A.

5.5

1 1 1 1
2

16

5.0

E

1 1 1 _LLL ■111. .1.1 1.1 J_LL JJ.1I
90

14 26

NOV DEC
1973

II

JAN

23 6 22

FEB

6 22 3 16

MAR

APR

3

1 LI

17 91

MAY

1 1 1

.11 LI. JJJ- .ILL _LLLL ILL. 1 1 1 L

M 26 12 26 9 29

JUN

JUL
1974

AUG

6 20

SEP

4

16

OCT

1

13 29 13 27

NOV

DEC

10 24

JAN
1975

LATEST DATA PLOTTED ARE AVERAGES OF TATES AVAILABLE FOR THE WEEK ENDING! JANUARY 10, 1975

1975
NOV.

1
8
15
22
29
DEC.
6
13
20
27
JAN.
3
10 X
17
24
31

6

10.0

E

\

Aaa 1 IONDS

6.5

0

10.5

—

9.0

E

4.5

12.0

11.0

7.5

6.0

12.5

11.5

E
7.0

13.0

E

,

"V—\

’"'a) RPORATE

-

E

\\

COl*C.RCIAL PAPEI*

ft

PR 1 JE BANK
LOAI4 RATE
1

10.0

6.0

E
E

A

10.5

9.5

PERCENT
— 13.5

90 DAY
CD'S MM

PRIME
COMMERCIAL
PAPER
4-6 MONTH

PRIME
BANKERS'
ACCEPTANCES

CORPORATE
Am BONDS

MUNICIPAL
BONDS ME

9. 15
9.16
9.05
8.75
9.28
9.53
9.03
9.17
9.20
9.36
8.57

8.83
6.88
8.81
8.73
8.81
9.05
8.78
9.00
9.06
8.84
8.00

8.95
8.83
8.94
9.00
9.41
9.55
9.03
9.03
9.16
9.08
8.56

9.09
8.99
8.89
8.84
8.85
8.91
8.87
8.85
8.91
8.93
8.92

6.65
6.66
6.55
6.53
6.71
6.89
7.15
7.08
7.08
7.08
N.A.

K AVERAGES OF RATES AVAILABLE.
666 BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS. THURSDAY DATA.
90W SEVEN-DAY AVERAGES OF SECOhCARY MARKET RATES FOR THE WEEK ENDING 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

4.5
0

SELECTED SHORT-TERM

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

14.0
13.5
—I 13.0
12.5

12.0
FEDERAL FUNDS RATE
11.5

11.0
10.5

10.0
9.5
ILL MAI

9.0

YIELD

6.5

6.0
7.5

DISCOUNT RATE

7.0
6.5
2

16 SO 14 26

NOV

DEC

11

23

JAN

6 22

FEB

6 22

MAR

5 18

APR

1973

S IT 31

MAY

14 26

JUN

12 26

JUL

8 23

AUG

6 20

4 16

SEP

OCT

1

13 28 13 2T

NOV

DEC

1874

NOV.

DEC.

JAN.

1
B
15
22
29
6
13
20
27
3
10 X
17
24
31

0

1975

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi JANUARY 10,

1975

10 24

JAN

FEDERAL
FUH)S

3-MONTH
TREASURY
BILLS

fl-5 YEAR
GOVERNMENT
SECURITIES

LONG-TERM
GOVERNMENT
SECURITIES

9.72
9.63
9.37
9.34
9.46
9.02
8.86
8.72
8.45
7.35
7.70

7.95
7.66
7.26
7.46
7.45
7.44
7.24
6.92
7.01
6.96
6.58

7.98
7.83
7.67
7.53
7.50
7.46
7. 16
7.06
7.17
7.26
7.24

7.12
7.04
6.92
6.87
6.88
6.89
6.75
6.70
6.77
6.77
6.72

1975

* AVERAGES OF RATES AVAILABLE.
**
AVERAGES FOR WEEK EN7ING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
430
420
410

TOTAL TIME DEPOSITS

400
390
380
370
360
350
340
330
320
310

NET TIME DEPOSITS X

300
290
3 19

2 16 30 13 27

NOV
DEC
1973

FEB

13 27 10 24

MAR

* 22

3 19

3 17 31

14 26 11

25

9 23

APR

3 20

4 It

NOV

DEC

1974

1

13 29

1975

LATEST DATA PLOTTED WEEK END I NOi JANUARY 1, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
X 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 9100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.

NET TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING.
1/2/74

4/3/74

3/29/74

7/3/74

7/31/74

9/4/74

8.9
6.8
8.7
8.0
8.7
9.1
8.5

10.6
9.8
8.5
9.4
9.7
9.0

8.5
7.1
8.6
9.2
8.4

6.5
8.7
9.3
8.3

8.8
9.7
8.3

10/2/74 10/30/74

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
5/29/74
7/ 3/74
7/31/74
9/ 4/74
10/ 2/74
10/30/74
12/ 4/74
1/ 1/75


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

10.8
1 1.0
10.7
10.4
9.7
10.1
10.2
9.7

12.2
9.6

7.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK PLUS TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

MONEY STOCK PLUS TOTAL TIME DEPOSITS

MONEY STOCK PLUS NET TIME DEPOSITS MK-

7 21

5 19

2 16 30 13 27 13 27 10 24

NOV
DEC
1973

FEB

MAR

6 22

5 19

3 17 31

APR

14 28 11 23

AUG

9 23

SEP

6 20

4 1C

NOV

DEC

LATEST DATA PLOTTED WEEK ENDING] JANUARY 1, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.B RELEASE.
** M* IS DEFINED AS« CURRENCY, DEMANC DEPOSITS PLUS NET TIME DEPOSITS (SEE PAGE 8).

MONEY STOCK PLUS NET TIME DEPOSITS (M2)
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING]
1/2/74

4/3/74

5/29/74

7/3/74

7/31/74

7.9
7.1
6.8
6. 1
6.5
7.0
6.4

8.0
7.2
6.0
6.6
7.3
6.4

5.2
4.2
5.4
6.4
5.6

4. 1
5.7
6.9
5.8

9/4/74

10/2/74 10/30/74

TO THE AVERAGE
OF FOUR WEEKS
ENDING]
5/29/74
7/ 3/74
7/31/74
9/ 4/74
10/ 2/74
10/30/74
12/ 4/74
1/ 1/75


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

8.3
8.8
8.2
7.9
7.2
7.4
7.7
7.2

5.5
7.3
5.8

9.8
7.0

6.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
94
92
90
88

86
84
82
80
78
78
74
72
70
68
66
64
7 21

5 19

NOV

DEC

2 10 30 13 Z7 13 27 10 24

FEB

MAR

8 22

S IB

APR

3 17 31

14 28 11

AUG

SEP

23

9 23

0 20

4 18

NOV

DEC

1 13 29
1975

LATEST DATA PLOTTED WEEK ENDING. JANUARY 1, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.fi RELEASE.
{||aLYAREPORT,|NGCCOMMERciALSBANKSE,,OSIT ISSUE0 ,N DENOMINATIONS OF 8100,000 OR MORE BY LARGE


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

MONEY Aid TIME DEPOSIT DATA

1975
NOV.

6
13
20
27
DEC.
4
1 1
16
25
JAN.
1
8
15
22
29

BILLIONS
CERTIFICATES CERTIFICATES
NET TIME
OF DEPOSIT
OF DEPOSIT
DEPOSITS*
NOT SEAS. ADJ.
87.4
87.1
86.7
86.8
87.7
86.9
90.4
91.7
92.9

85.7
85.5
85. 1
85.3
86.7
88.5
90.2
91.7
93.2

326. 1
329.3
329.3
330.2
328.9
330.0
330.1
331.0
330.4

M2 IK
610.0
612.6
612.5
613.7
614.9
614.3
613.5
613.8
614. 1

* SEE FOOTNOTE PAGE 8.
m. SEE FOOTNOTE PAGE 9.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
ALL MEMBER BANKS IN THE NATION
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

billions

OF dollars
4 K

ISIS.

7 21

3 19

MILLIONS

2 10 30 13 27 13 27 10 24

NOV
DEC
1073

FEB

8 22

3 19

3 17 31

MAR

14 28 11 23

AUG

9 23

SEP

6 20
NOV

4 18

1

DEC

13 29

LATEST DATA PLOTTED WEEK ENDING. JANUARY 6, 1973

BUSINESS LOANS
( COMMERCIAL AND INDUSTRIAL )

BILLIONS OF DOLLARS

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
132

“ COMPOUNDED ANNUAL RATES
— OF CHANGE. AVERAGE OF
_ THE FOUR WEEKS ENDING
JANUARY 1, 1975 FROM

130
128

- SEP
4,
— JUL. 31

128
1974
124

~ APR
— JAN

17.5
122
120
118
116
114
MILLIONS

112
110

NOV. 27

11.1.J 1 1 I I I I I
7 21

5 19

NOV

DEC

2 10 30 13 27 13 27 10 24

FEB

MAR

8 22

3 17 31

APR

1973
LATEST DATA PLOTTED WEEK ENDING.


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

3 19

14 28 11

AUG

SEP

23

9 23

6 20

4 16

NOV

DEC

1

13 29

1974
JANUARY 1,

1975
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

FEDERAL RESERVE BANK OF ST. LOUIS
P. 0. BOX 442
ST. LOUIS, MISSOURI 63166

FIRST CLASS MAIL
U. S. POSTAGE

RETURN POSTAGE GUARANTEED

PERMIT 444

FIRST CLASS IRRIL

MEMBER BANK DEPOSITS
SUBJECT TO RESERVE REQUIREMENTS
(CREDIT PROXY )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
505 r--------- ,------------,---------

BILLIONS OF DOLLARS

—-------- --------- n 505

COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF THE FOUR WEEKS ENDING
JANUARY 1. 1975 FROM THE FOUR
WEEKS ENDINGt
CREDIT ------------------------------------------------------CREDIT
PROXY
rR0XY
ADJU5TEfiURED I T PROXY ADJUSTED 1/
OCT.
OCT.
SEP.
JUL.
JUL.
APR.
JAN.

30, 1974
2, 1974
4, 1974
31, 1974
3, 1974
3, 1974
2, 1974

10.0

CREDIT PROXY

PILLIONS
CREDIT

-ERSXY
4S4.1
483.9
486.4
486.8
484.4
488.4

3 19

NOV

DEC

2

16 30

19 27

FEB

13 27

MAR

10 24

6 22

3

19

3

17 31

14 28

APR

1

23

UJi

9 23

CREDIT
PROXY
ADJUSTED
492.3
493.3

493. 1
494.6

0 20

4

NOV

DEC

18

1973

1

13 29

1975

LATEST DATA PLOTTED WEEK ENDINGi JANUARY 1,

1975

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS'

H.9 RELEASE.

N^SfVf!3u^c 1 ^ PAPER* EURODOLLAR B0RR0WINGS

12


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