Full text of U.S. Financial Data : Week Ending: July 11, 1979
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/^//v /x /vc/^ t o/i r>a Week ending: July 11, 1979 Library The savings deposit component of M2 consists of three different types of accounts: the passbook savings account against which no checks may be written; the automatic transfer service (ATS) account from which funds may be transferred to a checking account; and the Negotiable Order of Withdrawal (NOW) account against which negotiable drafts may directly be written. ATS accounts were introduced at commercial banks in November 1978. NOW accounts were initially introduced at mutual savings banks in Massachusetts and New Hampshire in 1972, and were extended to both commercial banks and thrift institutions in all New England s.tates in 1975, and to all financial institutions in New York State in November 1978. As shown in the table below, deposits in ATS accounts and in NOW accounts in New York State have grown dramatically since their introduction in November 1978. Balances in ATS accounts have increased to $6.7 billion, while those in NOW accounts in New York have risen to $1.7 billion. In comparison, between November 1978 and May 1979, NOW account balances at commercial banks in New England increased $139 million. Prior to July 1, deposits in both ATS and NOW accounts were treated similarly by Federal regulators of financial institutions. Both accounts at commercial banks were subject to the same reserve requirements and to the same interest rate ceiling. Effective July 1, however, the ceiling rate that commercial banks are allowed to pay on passbook savings accounts and ATS accounts was increased 25 basis points to 5.25 percent. The maximum rate payable on NOW accounts remained at 5 percent. Balances in NOW and ATS Accounts at Commercial Banks (Millions of Dollars) NOW Accounts ____ New York State New England December 1972 December 1973 December 1974 December 1975 December 1976 December 1977 December 1978 June 1979 $ 0 0 65 359 1,267 1,884 2,343 2,418 ** $ 239 1,710 ATS Accounts * $ 3,245 6,745 * Excludes commercial banks in the New England states. ** May data (latest available). http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Released: July 13,1979 2 ADJUSTED MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS ---- ----- ----- 154 BILLIONS OF DOLLARS 154 ------ 1----- [- 1979 BILLIONS. 146.2 146.3 147.0 JUN. 147.7 3 IT 31 14 28 12 26 0 23 6 20 SEP 1978 4 IB 1 15 29 13 27 10 24 4 16 7 21 FEB OCT MAR 2 16 30 rS 27 11 25 APR 1979 JUN JUL LATEST DATA PLOTTED WEEK ENDING: JULY 11. 1979 Tup >n iijcTtn MONETARY BASE CONSISTS OF: ( I ) MEMBER BANK RESERVES AT THE FEDERAL RESERVE BYJ?HIS°BANKBY THIS BAW< THIS BAM<. A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM ADJUSTED MONETARY BASE COMPOUNDED ANNUAL RATES OF CHANGE . AVERAGE OF FOUR WEEKS ENDING: 5/9/79 7/12/78 10/11/7812/13/78 1/10/79 2/14/79 3/14/79 4/11/79 TO THE AVERAGE OF FOUR WEEKS ENDING: 12/13/78 1/10/79 2/14/79 3/14/79 4/11/79 5/ 9/79 7/11/79 9.0 8.8 8.4 7.8 7.2 7.8 7.2 7.8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7.6 7.2 6.5 5.8 6.9 6.2 7.0 6.7 5.8 4.8 6.6 5.7 6.0 5.0 4.0 6.4 5.4 6.7 2.8 6.5 5.2 6.9 7.9 5.7 7.6 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MULTIPLIER^ ADJUSTED FEDERAL RESERVE CRED I T 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO 2.9 RATIO 2.9 MULT 1PLIER v, ^ 1979 BAIii MAY JUN JUL ‘mi A 2! 50' 1 1 1 1 -11-1 I 11 XU, 1 111 XIIX. 111 XXL J-L.l.J Mill J_1±JJJ 1 t LATEST DATA PLOTTED WEEK ENDING: JULY 4, 1979 J_LL -11 1 BILLIONS OF DOLLARS 132 128 - 126 MAY APR. — MAR. - FEB. JAN. 9, 11, 14, 14, 10, 1979 1979 1979 1979 1979 ADs USTED 5. 1 7.6 5.7 5.7 6.2 "EDERA L RESE < m 130 BILLIONS OF DOLLARS 132 — ------- 1----- 1----- r COMPOUNDED ANNUAL RA' ES —OF CHANGE. AVERAGE OF THE FOUR *EEKS END INC JULY II. 1979 FROM — THE FOUR WEEKS END INC 128 EDIT •s r 126 - 124 _ JUL 12, 1978 124 8.5 - 122 122 - - 120 120 z^j - 118 116 - V 1973 B ILL IONS 1 18 JUN ----- *£ 1 16 “in, 111 111 MAY JUN JUL 1 I 1 1 1 1 XLLL 111 1111 111 7 21 1 1 1 XLXlxxllI 1 1 1 1 1 1 l’ 7 21 18 2 16 30 13 27 II 2 AUG SEP 1978 OCT NOV DEC JAN FEB MAR 1 1 1 i APR 1979 MAY JUN JUL LATEST DATA PLOTTED WEEK ENDING: JULY 11, 1979 1/ RATIO OF MONEY STOCK (Ml > / ADJUSTED MONETARY BASE 2/ AND OTHER ASSET'*. FfOfRAL RESERVE HOLDINGS OF SECURITIES, LOANS, FLOAT ADJUSTED FEDERAL RESERVE CREDIT IS COMPUTED BY ^lIRTIurtinr tri^a^iibv http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis sm jmaMh S 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 895.3 903.4 902.8 904.6 905.6 908.8 JUL. 3 17 31 14 JUN 28 12 26 9 23 6 20 4 2 16 30 13 27 11 25 18 FEB JUL MAR APR 1978 LATEST DATA PLOTTED WEEK ENDING-. JULY 4, 1979 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. MONEY STOCK PLUS NET TIME DEPOSITS (M2) COMPOUNDED ANNUAL RATES OF CHANGE 7/5/78 10/4/78 12/6/78 8.6 7.7 6.2 5.9 5.8 6.7 6.7 7.3 4.4 2.8 3.0 3.2 4.8 5.2 6.0 0.5 1.5 2.2 4.7 5.2 6.3 1/3/79 AVERAGE OF FOUR WEEKS ENDING-. 2/7/79 3/7/79 4/4/79 5/2/79 10.0 8.9 10.1 11.0 11.9 10. 1 TO THE AVERAGE OF FOUR WEEKS ENDING: 12/ 1/ 2/ 3/ 4/ 5/ 6/ 7/ 6/78 3/79 7/79 7/79 4/79 2/79 6/79 4/79 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 . 1 2. 1 5.2 5.6 6.9 4.2 8.0 7.7 8.9 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK (Ml ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 385 B.1LL1QN? _ MAY 364.0 371.1 368.5 369.8 3 IT 31 14 28 12 26 8 23 6 20 4 18 SEP OCT LATEST DATA PLOTTED WEEK ENDING: JULY 1 IS 20 T3 27 10 24 7 21 4 18 MAR 2 16 30 13 27 APR 1979 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. THE MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AND COIN HELD BY THE NONBANK PUBLIC. MONEY STOCK (Ml ) COMPOUNDED ANNUAL RATES OF CHANGE 7/5/78 10/4/78 12/6/78 0.2 -1 .7 -1.5 -1 .0 1.6 2. 1 2.9 -2.5 -2.0 -1.1 2.7 3.1 4. 1 1/3/79 AVERAGE OF FOUR WEEKS ENDING: 2/7/79 3/7/79 4/4/79 10.8 8.4 9.0 1 1.4 1 1.2 TO THE AVERAGE DF FOUR WEEKS ENDING: 12/ 1/ 2/ 3/ 4/ 5/ 6/ 7/ 6/78 3/79 7/79 7/79 4/79 2/79 6/79 4/79 4.9 4.5 2.7 2.3 2.2 3.8 3.9 4.4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -3.9 -2.2 2.7 3.2 4.3 0.5 6.8 6.2 7.0 7.3 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 ’RIME BANK -OAN RATE I 1.5 90 DAY CO II .0 10.5 10.0 9.5 9.0 CORPORATE AAA BONDS 8.5 8.0 COMMERCIAL PAPER 7.5 7.0 MUNICIPAL 6.5 6.0 5.5 5 19 2 16 30 M 28 11 23 I S 22 13 29 12 26 JAN 9 23 9 23 1 1 LI 6 20 FEB 1979 1978 LATEST DATA PLOTTEO ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JULY 13, 1979 1979 90 DAY CD’s me* PRIME COMMERCIAL PAPER 1-6 MONTH PRIME BANKERS’ ACCEPTANCES CORPORATE Aaa BONDS MUNICIPAL BONDS XX 9. 94 10.21 10.19 10.19 10.08 10.09 9.99 9.90 9.89 9.81 9.91 9.91 10.00 10.03 9.98 9.91 9.88 9.7 l 9.61 9.61 9.62 9.72 9.99 10.01 10.00 9.91 9.93 9.90 9.73 9.76 9.72 9.73 9.93 9.51 9.52 9.51 9.19 9.18 9.11 9.25 9.23 9.23 9. 16 9. 17 6.27 6.30 6.30 6.21 6.16 6.09 6. 1 1 6. 18 6. 12 6.08 N.A. MAY 1 1 1 18 25 JUNE 1 8 15 22 29 JULY 6 13 X 20 27 * AVERAGES OF RATES AVAILABLE. XX BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA. SMM SEVEN-DAY AVERAGES OF SECONDARY 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 0 SELECTED INTEREST RATES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT I 1.0 FEDERAL FUNDS RATE DISCOUNT RATE 3-5 YEAR TREASURY SECURIT THREE-MONTH TREASURY BILL MARKET YIELD I I I I 5 19 Z 16 30 14 28 11 23 8 I I I I 22 OCT NOV 197B LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JULY 13, 1979 MAY 4 1 1 IS 25 JUNE 1 8 15 22 29 JULY 6 13 * 20 27 1979 FEDERAL FUNDS hex 3-MONTH TREASURY BILL 6-MONTH TREASURY BILL XXX 1-YEAR TREASURY BILL 3-3 YEAR TREASURY SECURITIES LONG-TERM TREASURY SECURITIES 10. 22 10.25 10.25 10. 17 10.28 10.23 10.23 10.28 10.32 10. 42 10.28 9.58 9.63 9.60 9.64 9.55 9.36 8.97 8.96 8.83 9. 10 9.28 9.57 9.62 9.46 9.60 9.41 9.43 9.05 8.87 8.90 8.87 9. 16 9.40 9.39 9.26 9. 14 9.05 8.94 8.74 8.84 8.64 8.70 8.80 9.42 9.42 9.32 9. 14 9.08 8.97 8.85 8.93 8.78 8.71 8.82 9. 17 9.20 9. 13 9.03 8.98 8.90 8.81 8.85 8.76 8.74 8.80 * AVERAGES OF RATES AVAILABLE. XX SEVEN-OAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE, m 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 8 NET TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 1979 BILLIONS OF DOLLARS 545 BILLIONS 540 531.3 535 534.3 535.8 537. 1 Z_ JUL. 530 525 520 515 510 I I I I 3 17 31 14 21 12 26 JUN 0 23 8 20 4 18 I 15 2fl 13 27 10 24 4 18 7 21 2 IB 30 13 27 11 25 JUN JUL LATEST DATA PLOTTED WEEK ENDING: JULY 4, JUL 1979 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE. K 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 1100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS. NET TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 7/5/78 10/4/78 12/6/78 7.5 6. 1 6.3 6.3 7. 1 7.5 8.3 2.6 4.0 4.5 6.0 6.7 7.9 /3/79 2/7/79 3/7/79 4/4/79 5/2/79 4.7 5. 1 6.9 7.5 8.7 6.7 8.7 8.9 10.2 9.4 9.4 10.9 10.9 12.4 12.2 TO THE AVERAGE OF FOUR WEEKS ENDING: 12/ 1/ 2/ 3/ 4/ 5/ 6/ 7/ 6/78 3/79 7/79 7/79 4/79 2/79 6/79 4/79 1 1.3 9.9 8.7 8.6 8.3 8.7 8.8 9.3 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 280 ------ 1----- .--- D1 _________________ BILLIONS OF DOLLARS BILLIONS 262.7 267.3 267.4 266.6 267.9 3 17 31 MAY 14 JUN 28 12 JUL 2A 0 23 AUG I SEP OCT 13 29 NOV 13 27 10 24 7 DEC 21 2 18 30 13 27 II 29 MAR APR JUN 1978 LATEST DATA PLOTTED WEEK ENDING* JULY 4, JUL 1979 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.8 RELEASE. DEMAND DEPOSIT COMPONENT OF MONEY STOCK TO THE AVERAGE OF FOUR WEEKS ENOINGi 12/ 1/ 2/ 3/ 4/ 5/ 8/ 7/ 8/78 3/79 7/79 7/79 4/79 2/79 6/79 4/79 COMPOUNDED ANNUAL RATES OF CHANSE, AVERAGE OF FOUR WEEKS ENOINGi 7/5/78 10/4/78 2/6/78 1/3/79 2/7/79 3/7/79 4/4/79 5/2/79 2.8 2.4 -0. 1 -0.6 -0.5 1.7 1.8 2.6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -3.0 -5.7 -5.3 -4.5 -0.9 -0.4 0.8 -7.0 -6. 1 -4.6 0.6 0.9 2.4 -8.7 -5.9 0.7 '-I 2-7 -1.7 6.7 5.4 6.7 12 4 8.4 9.4 12.1 12.2 6.7 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 10 CURRENCY COMPONENT OF MONEY STOCK billions AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED OF dollars billions of dollars 106 B.HUQNS. 01.3 101.4 101.2 101.4 10! .8 101.9 I JUN SEP JUL 15 28 13 27 10 24 7 2 21 MAR OCT IS 30 13 27 JUN APR 11 25 JUL LATEST DATA PLOTTED WEEK ENDING: JULY 4, 1979 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. CURRENCY COMPOUNDED ANNUAL RATES OF CHANGE 7/5/78 AVERAGE OF FOUR WEEKS ENDING: 10/4/78 12/6/78 1/3/79 2/7/79 3/7/79 4/4/79 5/2/79 9.6 10.0 9.7 9.2 8.9 9.0 8.9 10.6 9.8 9. 1 8.7 8.9 8.8 9.9 8.9 8.4 8.7 8.6 7.5 7.2 8.0 8.0 6.7 7.9 7.9 8.4 8.3 9.0 TO THE AVERAGE OF FOUR WEEKS ENDING: 12/ 1/ 2/ 3/ 4/ 5/ 6/ 7/ 6/78 3/79 7/79 7/79 4/79 2/79 6/79 4/79 10.8 10.6 10.7 10.4 !0.0 9.7 9.7 9.6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 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 3.5 r=----- ■----- .1M HI LLI QN§ — JUN. 3 J7 31 MAY ILL IONS OF DOLLARS —----- ---- Z 3-5 6 14 28 12 28 JUN JUL 9 23 6 20 AUG SEP 1978 4 IB OCT I 15 29 13 27 10 24 NOV DEC JAN 7 2T 7 21 FEB MAR APR 1979 MAY JUN JUL LATEST DATA PLOTTED WEEK ENDINGt JULY II, 1979 BUSINESS LOANS ( COMMERCIAL AND INDUSTRIAL ) billions of dollars WEEKLY REPORTING LARGE COMMERCIAL BANKS SEASONALLY ADJUSTED billions of dollars “ COMPOUNDED ANNUAL RATES — OF CHANGE. AVERAGE OF _ THE FOUR WEEKS ENDING JULY 4. 1979 FROM “THE FOUR WEEKS ENDINGt ' MAR. — FEB _ JAN. OCT. — JUL. 2, 1979 4, 1979 7. 1979 7, 1979 3, 1979 4, 1978 5, 1978 26.9 22.0 21.9 14.5 MAY 30 JUN. 6 JUL. 4 11111111 I I I I 3 17 31 14 28 12 28 JUN JUL 9 23 8 20 4 18 SEP 1 15 29 13 27 10 24 OCT I 42,033 142,959 143,209 143,872 144,625 U_LLLL 7 21 FEB MAR APR JUN JUL LATEST DATA PLOTTED WEEK ENDING. JULY 4, 1979 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 12 CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS WEDNESDAY FIGURES NOT SEASONALLY ADJUSTED BILLIONS OF DOLLARS ILL IONS OF DOLLARS 106 BILLIONS 104 102 100 84 82 80 14 28 12 26 B 23 6 20 4 18 I LATEST DATA PLOTTED WEEK ENDING: JULY 4, IS 29 13 27 10 24 7 21 FEB 7 21 MAR APR 1979 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.8 RELEASE. NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 8100,000 OR MORE BY LARGE WEEKLY REPORTING COkACRCIAL BANKS. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS