Full text of U.S. Financial Data : Week Ending: July 18, 1973

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

Week ending: July 18,1973
library
jun 0 8 W9

The money stock has risen at an 11 percent annual rate in
the past three months and 7 percent in the past twelve months (page 5).
These rates compare with a 6.3 percent average rate from 1967 to 1972
and a 2.9 percent rate from 1957 to 1967. Money stock plus net time
deposits has increased at a 9.7 percent rate in the past three months,
compared with an 8.4 percent average rate from 1967 to 1972 (page 7).
Savings flows into commercial banks have slowed in recent
months. These flows have been discouraged to some extent by the
widening gap between interest rates paid on market instruments and
interest rates payable by thrift institutions. The impact of the re­
cent raising of Regulation Q ceilings on consumer-type savings deposits
is not yet evident in the data. Net time deposits at all commercial
banks have increased at an 8.6 percent rate in the past six months,
compared with about a 13 percent increase in the previous twelve months
and an 11.4 percent rate of increase from 1962 to 1972 (page 6). The
volume of large CDs averaged only slightly higher in June than in May,
after increasing very rapidly in the previous months of this year.
Large CDs have increased, however, by $1.2 billion in the past two
weeks (page 8).
Slower growth of savings accounts at nonbank thrift insti­
tutions has also been evident since early this year.
From February
to June, these deposits increased at a 9.6 percent annual rate, com­
pared with a 16 percent rise in the previous twelve months. These
deposits increased at a 9.3 percent trend rate from 1962 to 1972.
Bank loans and investments at all commercial banks in­
creased at about a 16 percent rate in the first half of this year,
very rapid when compared with the 9 percent average rate from 1962
to 1972. The expansion of bank loans was at a rapid rate of almost
24 percent in the past six months, compared with a 10 percent rate
from 1962 to 1972. On the other hand, bank investments have increased
at only about a 1 percent rate in the past six months.


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

Prepared by Fed eral Reserve Bank of St. Louis
Released: July 20, 1973

i

MONETARY BASE v
MULTIPLIER^

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY

BILLIONS OF DOLLARS

THIS BANK

BILLIONS OF DOLLARS
104

-

COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
___THE FOUR WEEKS END ING
JULY 18, 1973 FROM
_
THE FOUR WEEKS ENDING.
MAY
___ APR.
MAR.
FEB.
JAN.
DEC.
----- JUL.

16, 1973
18, 1973
21, 1973
21, 1973
17, 1973
20, 1972
19. 1972

102

7.5
7.8
8.4
9.5
8.3
8.4
8.6

100

98
MONETARY BASE

96

1973

—

94

—

92

I I I I I

nun
LATEST DATA PLOTTED WEEK ENDING. JULY 18.

MILLIONS

1973
RATIO
2.9

RATIO

2.8

MULTIPLIER
2.7

2.6

2.5

2.4

3 17 31

14 28 12 26

9 23

6 20

4 18

I

LATEST DATA PLOTTED WEEK ENDING. JULY 11,

15 29 15 27

1973

10 24

7 21
FEB

4
MAR

18

APR

2

16 30 13 27 II 25
JUN
JUL

.

1/ USES OF MONETARY BASE ARE MEMBER BANK RESERVES AND CURRENCY HELD BY THE PUBLIC AND NOVEMBER
BANKS. ADJUSTED FOR RESERVE REQUIREMENT CHANGES AND SHIFTS IN DEPOSITS.
FOR A DESCRIPTION
OF TH£ BASE SEE THE AUGUST 1968 1•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 AVAILABLE TO SUPPORT
PRIVATE NONBANK DEPOSITSv
ALL MEMBER BANKS

FEDERAL RESERVE CREDIT v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

8ILL IONS OF DOLLARS

9 ILL IONS OF DOLLARS

31.5

31.0

31.0

-^j 30.:

RESERVES

30.0

29.5

29.0

1973
JUN.

29.0

BILLIONS

13

30.11

30! 6 0
30.54
31.03

28.5

92
COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
—

the

four

vuli

id,

MAR.

21

weeks
i9iv

ending

90

rnun

THE FOUR WEEKS ENDING
1973
1973

FEB. 21
-------- IAN.

17

197 3

88

1973
1973

13.8
14.7

1972

11.5

FEDERAL RESERVE CREDIT

86

84

82
973

MILLIONS

80

78

II I I ll
3

17

SI

14 2C

JUN

12 26

S 23

6 20

4

1C

1

IS 29

13 27

JUL

LATEST DATA PLOTTED WEEK ENDING. JULY IB,

10 24

7 21

7 21

4

FEB

MAR

APR

1C

2

16 30

13 27

JUN

11

25

JUL

1973

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 IN REQUIREMENTS DUE TO SHIFTS IN DEPOSITS AMONG
CLASSES OF BANKS.
3/ BEGINNING NOVEMBER 9, 1972 DATA ARE ADJUSTED DUE TO WAIVERS ASSOCIATED WITH THE EFFECTS
OF A CHANGE IN REGULATION J.
*

BREAK IN SERIES DUE TO THE EFFECT OF CHANGES


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

IN REGULATION D.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

4
DEMAND DEPOSIT COMPONENT OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

i

BILLIONS OF DOLLARS

210

BILLIONS
203.9
203.8
204.5
203.5
205.0
205.0

205

200

195

190

I I I I
3

17 31

II U

JUN

I! t6

9 73

I td

4

1«

I

19 (9 19 ZT 10 Z4

7 71

4

16

Z

16 30

JUL

15 Z7

JUN

1972

Z9

1973

latest data plotted week endiNGt

CURRENT DATA APPEAR

II

JUL

july

11, 1973

IN THE BOARD OF GOVERNORS'

H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
7/12/72

11/fl/72 12/13/72

1/10/73

2/14/73

3/14/73

4/11/73

2.0
3.3
6.9
7.8

2.0
7.2
8.2

11.5
11.5

5/9/73

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
12/13/72
1/10/73
2/M/73
3/14/73
4/11/73
5/ 9/73
6/13/73
7/11/73


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

6.0
8.0
5.7
5.8
5.0
5.1
6.2
6.6

9.8
4.2
4.6
3.4
3.8
5.7
6.3

5. 1
5.4
3.6
4. 1
6.3
7.0

-0.3
-0.8
0.8
4. 1
5.2

14.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5
MONEY STOCK

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
270 -------------1---------- ,-----

BILLIONS OF DOLLARS
-------- ---------- ---------- 270

BILLIONS
263.2
263.2
263.9
262.7
264.3

S IT
MAY

SI IS t« It t« • ts
JUN
JUL
AUC

e to
SEP

4 II
OCT

I 13 t9 15
NOV
DEC

T ti

4 IS

t IS so IS

II

13

1972
LATEST DATA PLOTTED WEEK ENDING, JULY U,

1973

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

COMPOUNDED ANNUAL RATES OF CHANGE,
7/12/72

11/8/72 12/13/72

1/10/73

AVERAGE OF FOUR WEEKS ENDING,

2/14/73

3/14/73

4/11/73

5/9/73

TO THE AVERAGE
OF FOUR WEEKS
ENDING,
12/13/72
1/10/73
2/14/73
3/14/73
4/11/73
5/ 9/73
6/13/73
7/11/73


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

6.5
8.5
6.3
6.5
5.8

6.1
6.9
7.1

11.3
5.4
6.0
4.9
5.5

6.8
7.2

5.6
6.3
4.9
5.6
7.2
7.5

0.9

0.8
2.5
5.0
5.8

4. 1
5.5

8.0
8.3

4.4
8.0
8.4

11.5
11.0

12.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

6

TIME DEPOSITS

ALL COMMERCIAL BANKS

\

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

TOTAL TIME DEPOSITS

NET T IME DEPOSITS*

3 ir 31

14

10 II 10

JUN

JUL

>13

0 to
SEP
1872

4 10
OCT

I

7 II

4

7 II

10

I

10 30

13 17

JUN

II

IS

JUL

1973

LATEST DATA PLOTTED WEEK ENDING] JULY 11,
CURRENT DATA APPEAR

13 19 IS IT 10 14

1873

IN THE BOARD OF GOVERNORS' H.6 RELEASE.

* NET TIME DEPOSITS ARE DEFINED ASi SAVINGS DEPOSITS, TIME DEPOSITS OPEN ACCOUNT PLUS TIME
CERTIFICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN
DENOMINATIONS OF 0100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.

NET TIME DEPOS1TS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
7/12/72

11/8/72 12/13/72

1/10/73

2/14/73

3/14/73

4/11/73

3/9/73

8.8
8.7
9.3
9.3
8.6

8.4
9.4
9.3
8.5

9.8
9.6
8.5

10.2
8.5

7.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING]
12/13/72
1/10/73
2/14/73
3/14/73
4/11/73
5/ 9/73
6/13/73
7/11/73


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

12.2
12.7
12. 1
l 1 .7
1 1.3
11.3
11.1
10.6

12. 1
1 1.0
10.5
10. 1
10.3
10. 1
9.5

12.0
10.9
10.3
10.5
10.3
9.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK PLUS TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
620 c=---------- ----------------

BILLIONS OF DOLLARS
-------- ---------- --------3 620

MONEY STOCK PLUS TOTAL TIME DEPOSITS

MONEY STOCK PLUS NET TIME DEPOSITS

3

IT 91

M *«

JUN

II 26

9 29

JUL

6 20

4

SEP

OCT

16

1

13 29 19 27

10 24

T 21

T 21
MAR

4

16

2

16 90

APR

19 27

JUN

II

23

JUL

1073
LATEST DATA PLOTTED WEEK ENDING, JULY 11,
CURRENT DATA APPEAR

1973

IN THE BOARD OF GOVERNORS*

H.6 RELEASE.

**M* IS DEFINED AS, CURRENCY, DEMAND DEPOSITS PLUS NET TIME DEPOSITS (SEE PAOE 8).

MONEY STOCK PLUS NET TIME DEPOSITS CM2)
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS END 1NG,
7/12/72

11/8/72 12/13/72

1/10/73

2/14/73

3/14/73

4.9
4.9
6.0
7.2
7.3

6.3
7.5
8.6
8.4

7.3
8.9
8.5

4/11/73

3/9/73

TO THE AVERAGE
OF FOUR WEEKS
ENDING,
12/13/72
1/10/73
2/M/73
3/14/73
4/11/73
5/ 9/73
6/13/73
7/11/73


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

9.3
10.6
9.2
9. 1
8.6
8.7
9.0
8.9

11.6
8.3
8.2
7.6
7.9
8.5
8.3

9.0
8.6
7.7
8. 1
8.7
8.6

10.7
9.7

9.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

8

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
WEDNESDAY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
66
64
62

\
BILLIONS OF DOLLARS

—

-

/ -

-

-

60
58
56
54
52
50
46
46
44
42
40
56
36

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

^—*

-

-

-

-

-

-

-

-

w 111, 111, 1111

i
til. l-l-l. _LLLL . 1 1.1 . 11.11 -LI J . Hi- 11.L J-Li-L 1 1 1 JJJL

3 17 31 H tl 11 f6 9 69 6 60 4 19
MAY JUN
JUL
AUC
SEP
OCT
1972

1 IS t9 IS <7 10 <4 7 tl
NOV DEC
JAN
FEB

7 tl
MAR

4 16
APR
1973

MAY

JUN

JUL

LATEST DATA PLOTTED WEEK ENDING. JULY II, 1973
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 6100,000 OR MORE BY LAROE
WEEKLY REPORTING COMMERCIAL BANKS.


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

MONEY AM) TIME DEPOSIT DATA

1973
MAY

2
9
le
23
30
JUNE 6
13
20
27
JULY
4
11
18
25

CERTIFICATES
OF DEPOSIT

BILLIONS
NET TIME
DEPOSITS*

59.3
61.1
61.8
62.3
62.6
61.3
61.9
61.6
62.6
63. 1
63.8

279.0
278.8
279.9
280.7
281.0
281 .6
281.9
281.9
281 .9
282.9
282.4

Mt

m

538.4
538.3
541.2
541.2
541 .8
544.8
545. 1
545.8
544.6
547.4
546.8

* SEE FOOTNOTE PAGE 6.
** SEE FOOTNOTE PAGE 7.
PREPARED BY FEDERAL RESERVE BANK OF ST

LOUIS

54
52
50
46
46
44
42
40
36

36

0

9
MEMBER BANK DEPOSITS
SUBJECT TO RESERVE REQUIREMENTS
(CREDIT PROXY )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

433

425

415

CREDIT PROXY ADJUSTED 1/

405

395

CREDIT PROXY
385

373

5 ir 31

M 21 It M

• *3

• TO

4 1«

I

13 79 15 XT

10 Z4

7 Z1

1972
LATEST DATA PLOTTED WEEK ENDING, JULY 11.
CURRENT DATA APPEAR

7 tl

4

1*

7 l« SO 13 77 11 73

1973
1973

IN THE BOARD OF GOVERNORS’ H.9 RELEASE.

1/ INCLUDES MEMBER BANK DEPOSITS, BANK-RELATED COMMERCIAL PAPER, EURODOLLAR BORROWINGS OF
U.S. BANKS, AND CERTAIN OTHER NONDEPOSIT SOURCES.

.1.9Tj

BILL
-PROXY-

CRED1T
PROXY
ADJUSTED

427.$
427.9
429.7
429.2
432.3
430.3

433.5
433.4
435.4
435.0
438.8
436.6

CREDIT
JUN.

JUL.

6
13
20
27
4
11


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

IQN§

COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF THE FOUR WEEKS ENDING
JULY 11, 1973 FROM THE FOUR
WEEKS ENDING,
CREDIT
CREDIT
PROXY
-PROXY. ADJUSTED
MAY
APR.
MAR.
FEB.
JAN.
DEC.
JUL.

9.
1 1 ,
14.
14.
10.
13.
12.

1973
1973
1973
1973
1973
1972
1972

11.4
11.0
13.0
15.4
13.5
14. 1
12.5

12.6
12. i
13.8
16.2
14.2
14.7
13.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

\

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
8.0 —

PERCENT

CORPORATE AAA BONDS

INI Cl PAL

DISCOUNT RATE

THREE-I
BILL M

5 19

M( X l< II II H
JUL
AUC

*

**

• *0

S IT

OCT

NOV

I

19 It II M 9 <9
JAN FEB

9 29

9 20
APR

4 19
MAY

I

15 ft ll IT

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING, JULY 20. 1973

CORPORATE

Aaa

1973
MAY

4
1 1
18
25
JUNE
1
8

15
22
29
JULY 6
13
20 Ml
27

bonds

7.26
7.26
7.29
7.32
7.35
7.36
7.36
7.38
7.40
7.41
7.44
7.45

3-MONTH
TREASURY
BU.LS

3-5 YEAR
GOVERNMENT
SECURITIES

government

SECURITIES

LONG-TERM

MUNICIPAL
BONDS MW

6.24
6.07
6.22
6.56
6.91
7.07
7.15
7.25
7.32
7.94
7.78
7.95

6.79
6.76
6.76
6.82
6.79
6.72
6.70
6.74
6.69
7.15
7.29
7.39

6. 15
6.15
6.21
6.31
6.31
6.31
6.29
6.32
6.36
6.44
6.43
6.47

5.10
5. 10
5.14
5.20
5.22
5.13
5.13
5.19
5.25
5.34
5.40
N.A.

Ml AVERAGES OF RATES AVAILABLE.
MW 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

SELECTED SHORT-TERM

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
10.5 i—

PERCENT

RIME SANK

CIAL PAPER

FEDERAL FUNDS RATE

S 19

MAY

Z 16 90 M Zt

JUN

11

JUL

AUC

Z3

f ZZ

SEP
1972

8 ZO

9 17

OCT

NOV

i is
DEC

zg iz ze a zs 9 zs
JAN
FEB
MAR

• zo
APR
,973

9 it
MAY

1 19 za is
JUN
JUL

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING, JULY 20,

1973

PRIME

COMMERCIAL

1973
MAY

4
1 1
18
25
JUNE
1
8

15
22
29
JULY

8

13
20 X
27

PAPER
4-6 MONTH

FUNDS *K

PRIME
BANKERS'
ACCEPTANCES

90 DAY
CD'S MX

7.13
7. 13
7.28
7.38
7.53
7.83
7.90
8.03
8.28
8.75
8.90
9.04

7.43
7.60
7.8!
8.06
7.95
8.43
8. 17
8.55
8.59
10.21
9.52
10.22

7.00
7.00
7. 13
7.33
7.41
7.75
7.88
8.05
8.35
8.94
9.00
9.00

7.34
7.38
7.45
7.47
7.58
7.85
8.01
8.09
8.29
8.87
9.03
9.36

FEDERAL

* AVERAGES OF RATES AVAILABLE.
« FEDERAL FUNDS AND CD RATES ARE SEVEN-DAY AVERAGES FOR WEEK ENDING

isras

“i* ‘rrM ,n

CD DATA ARE SECONDARY MARKET RATES.


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

PREPARED BY FEDERAL RESERVE BAM( OF ST. LOUIS

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

3.0
2.5

2.0

=—1

1

-

MILLIONS

1973
JU N.

13
20
27
4
JU L.
11
10

“

Z

1.5

BILLIONS

of

DOLLARS

1111

BILLIONS OF DOLLARS
1

1700
1928
1849
2401
16*0
1 f CO

Vi

u

1.0

J
A
T ,r
\\

zz

zz

------ S/
,

0.5
£

0

may

1 1 1.L --LLL
14 *# 1* *« 9 29 6 20

jun

2.0
1.5

1.0

3 17 34

2.5

BORROW INCS j

\

ILLL 1 l.L

w

1 1 1

_LLL 1 ILL. 111

AUG
SEP
1972

jul

4

OCT

NQV

0.5

.

0

—
1 I ILL

11 it. 111

DEC

JAN

FEB

111

111

MAR

APR

1 LL
T

MAY

JUN

u11 i.f
JUL

1973

LATEST DATA PLOTTED WEEK ENDING. JULY IS.

1973

BUSINESS LOANS

( COMMERCIAL AND
BILL IONS OF

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

DOLLARS

LLIONS OF DOLLARS

I 10

COMPOUNDED ANNUAL RATES OF CHANGE.
AVERAGE OF THE FOUR WEEKS ENDING
JULY 11. 1973 FROM THE FOUR
WEEKS ENDING.
BUS|NESS
BUSINESS
LOANS
LOANS
ADJUSTED
17.3
19.5
24.3
31.0
35.4
33.0
23.9

MAY
9
APR. 11
MAR. 14
FEB. 14
JAN. 10
DEC. 13
JUL. 12

BUSINESS LOANS ADJUSTED

I r.

MILLIONS
BUSINESS
LOANS
BUSINESS
ADJUSTED
LOANS

111111 ilu lLu
3

17 St

MAY

14 l«

JUN

1* *•

JUL

« *0

I

SEP

NOV

9 *3

AUG

13 19

IS 77

DEC

JAN

T *1
FEB

T *1
MAR

4 I*
APR

i i

I

i i i

-|
_|

Illl

7 I* 30 13 IT II IS
MAY
JUN
JUL

1973

1972
LATEST DATA PLOTTED WEEK ENDING. JULY 11.

10 14

106.674
106.008
106.306
106.351
107,041
108.01T

104.327
103,760
104,137
104,164
04.733
105,730

BUSINESS LOANS

-

1973

1/ INCLUDES LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS TO OWN SUBSIDIARIES, FOREIGN BRANCHES,
HOLDING COMPANIES, AND OTHER AFFILIATES.
PREPARED BY FEDERAL RESERVE BAT* OF ST. LOUIS


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Federal Reserve Bank of St. Louis