Full text of U.S. Financial Data : Week Ending: July 19, 1972
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u.s. F/yViA/vc/ziz. o>a r>a Week ending: July 19, 1972 library? JUN 0 5 1979 The nation's money stock has expanded at a 6.6 percent annual rate in the past three months and at a 5.1 percent rate in the past twelve months. For comparison, this aggregate increased at a 7.7 percent rate from mid-1970 to mid-1971 and at a 5.9 percent trend rate from late 1966 to late 1971. Both the currency component of money and the demand deposit component have increased at about the same rate in the past three months. Total bank loans and investments (total bank credit) increased at about an 11 percent annual rate in the second quarter, slower than the 15.5 percent rate in the first quarter, but more rapid than the 8.3 percent trend growth rate from 1960 to 1971. In the post-war period, the bank investment component of bank credit has normally increased rapidly during the laterecession and early-recovery phase of the business cycle, while the bank loan component has increased at a slow pace in the initial recovery phase and has tended to expand more rapidly as business activity quickens. Later in the recovery phase, growth of investments tends to slow as bank loans increase rapidly. These components of bank credit have exhibited a similar pattern over the past two years. For example, bank investments increased at about a 22 percent annual rate from June 1970 to June 1971, but since then, growth of investments has slowed to a 10 percent annual rate. On the other hand, total loans increased at an 8 percent rate from mid-1970 to mid-1971 and then accelerated to a 13 percent rate in the past twelve months. Member bank borrowings from Federal Reserve Banks have increased slightly In recent weeks, but still remain at historically low levels. Borrowings averaged $212 million in the past four weeks, compared with only $20 million last January, the lowest monthly average since World War II. For comparison, borrowings averaged $412 million in 1971. Because of the rise in short-term market interest rates over recent months, the interest rate charged on member bank borrowings (the discount rate) has become a more attractive rate to member banks. For example, in the past four weeks the Federal funds rate has averaged about 5 basis points above the discount rate, compared with about 1 percentage below the discount rate last January. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Released: July 21, 1972 2 MONETARY BASE v MULTIPLIERS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS BILLIONS OF DOLLARS 96 _ COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING --- IULY 19, 1972 FROM THE FOUR WEEKS ENDING. - MAY APR. MAR. — FEB. JAN. _ DEC. JUL. 17, 19, 22, 16, 19, 22, 21, 1972 1972 1972 1972 1972 1971 1971 94 3.6 4.5 7.6 92 8.1“ 7.8 8.3 6.8 90 MONETARY BASE 88 aiZ JUN. MILLIONS M 86 LATEST DATA PLOTTED WEEK ENDING: JULY 19, 1972 RATIO RATIO 2.9 2.8 MULTIPLIER 2.7 2.6 2.5 SAM 2.4 5 IS 2 16 30 14 2# JUL 11 25 6 22 6 20 3 17 1 AUG 15 29 12 26 JAN 1971 9 23 6 22 5 19 FEB 3 17 31 14 26 JUN 12 26 JUL 1972 LATEST DATA PLOTTED WEEK ENDING: JULY 12, 1972 1/ USES OF MONETARY BASE ARE MEMBER BANK RESERVES AND CURRENCY HELD BY THE PUBLIC AND NQNMEMBER BANKS, ADJUSTED FOR RESERVE REQUIREMENT CHANGES AND SHIFTS IN DEPOSITS. FOR A DESCRIPTION OF THE 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 AVAILABLE TO SUPPORT PRIVATE NONBANK DEPOSITS-^ 3 ALL MEMBER BANKS FEDERAL RESERVE CRED I T 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 31.0 ----- 1------ r- 30.5 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING JULY 19, 1972 FROM THE FOUR WEEKS ENDING: 30.0 MAY I 17, 1972 5.7 BILL IONS OF DOLLARS --- ----- ----- 31.0 - JUL. 21 RESERVES 29.0 29.0 28.5 28.5 1972 28.0 JUN. BILLIONS M 28.0 30.05 30.32 9.94 27.5 27.5 30.10 30.38 Mill 84 - COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF __ THE FOUR WEEKS END ING JULY 19, 1972 FROM “ THE FOUR WEEKS ENDING: 1972 1972 1972 1972 1972 1971 1971 APR. MAR. FEB. JAN. -- JUL. 2.9 6.0 9.6 4.4 6.3 8.5 8.2 82 _ 80 FEDERAL RESERVE CREDIT “ 78 76 1972 JUN. MILLIONS 74 14 72 S 19 2 16 SO 14 29 JUL 11 25 8 22 8 20 3 17 1 AUG IS 29 12 26 JAN 9 23 FEB 8 22 5 19 3 17 31 14 28 12 26 JUN JUL LATEST DATA PLOTTED WEEK ENOING: JULY 19, 1972 1/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. 2/ DEFINED TO INCLUOE HOLDINGS OF SECURITIES, LOANS. FLOAT AND 1 ‘OTHFfi1 ' asvt1! in iiwtcii e CLASSeI CHANGES AND CHANGES IN REQUlAEMENTS DUE TO SHIFTS IN DEPftsiTS AMONG 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 BILLIONS 182.0 181.9 182.6 181.3 183.3 186.0 5 18 2 16 30 14 28 11 JUL 25 AUG 8 22 6 20 3 17 OCT NOV 1 13 20 12 26 0 23 8 22 5 ia 3 17 31 14 28 12 26 JUN 1971 JUL 1972 LATEST DATA PLOTTED WEEK ENDING; JULY 12, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING: 7/14/71 11/10/71 12/15/71 1/12/72 2/9/72 3/15/72 4/12/72 5/10/72 5.2 5.7 7.3 3.9 6.6 9.3 TO THE AVERAGE OF FOUR WEEKS ENDING; 12/15/71 1/12/72 2/ 9/72 3/15/72 4/12/72 5/10/72 6/14/72 7/12/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0.5 0.6 1.6 3.4 4.1 3.7 4.0 4.7 0.3 2.8 6.0 6.7 5.8 5.9 6.7 4.5 8.5 8.8 7.2 7. 1 7.8 12. 1 11.4 8.8 8.3 9.0 12.7 8.9 8.2 9.1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 245 ----- 1------ .-- BILLIONS OF DOLLARS ---- ----- ----- 245 236.6 236.6 237.3 236.1 240.9 5.9X TRIEND LINE FROM DECEMBER ‘66 TO DECEMBER '71 5 18 2 16 SO 14 26 11 JUL 29 6 22 6 20 3 17 1 AUG 15 28 12 26 JAN 8 23 8 22 9 18 3 17 31 FEB 14 26 12 26 JUN JUL LATEST DATA PLOTTED WEEK ENDING: JULY 12, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING: 7/14/71 11/10/71 12/15/71 1/12/72 2/9/72 3/15/72 4/12/72 5/10/72 6.3 6.3 7.6 4.5 6.6 8.7 TO THE AVERAGE OF FOUR WEEKS ENDING: 12/15/71 1/12/72 2/ 9/72 3/15/72 4/12/72 5/10/72 6/14/72 7/12/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1.5 1.6 2.4 4.0 4.6 4. 4 4.6 5. 1 1.5 3.4 6.2 7.0 6.2 6.3 6.9 4.9 8.3 8.8 7.6 7.3 7.9 11.1 10.9 8.8 8.3 8.8 12.4 9.2 8.4 9.0 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS ALL TIME DEPOSITS COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS - 300 E 290 ■= 280 TOTAL TIME DEPOSITS 270 = 280 5 250 240 NET TIME DEPOSITS* ■= 230 - Mil 5 IB 2 16 50 4 21 II JUL 25 AUG 8 22 6 20 3 17 OCT NOV 1 IS 29 12 26 JAN 9 FEB JUN 1971 JUL 1972 LATEST DATA PLOTTED WEEK ENDING: JULY 12, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. * 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 DEPOS1TS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 7/14/71 11/10/71 12/15/71 1/12/72 2/9/72 3/15/72 4/12/72 5/10/72 8.5 11.0 11.6 13.0 13.2 14.5 TO THE AVERAGE OF FOUR WEEKS ENDING: 12/15/71 1/12/72 2/ 9/72 3/15/72 4/12/72 5/10/72 6/14/72 7/12/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9.8 11.9 12.8 13.6 12.8 12.6 12.9 12.9 19.9 19.4 19.2 16.8 15.8 15.7 15.5 21.4 20.3 16.9 15.7 15.6 15.3 18.4 14.6 13.6 14.0 13.9 13. 1 12.3 13. 1 13.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 220 MONEY STOCK PLUS TIME DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 540 530 = 520 E 510 MONEY STOCK PLUS TOTAL TIME DEPOSITS 500 490 480 470 E 460 MONEY STOCK PLUS NET TIME DEPOSITS 450 5 19 2 16 30 14 2S JUL 11 25 8 22 6 20 5 17 1 AUG IS 29 12 26 JAN 9 23 8 22 5 19 3 17 31 FEB 14 26 12 26 JUN JUL 1972 LATEST DATA PLOTTED WEEK ENDING: JULY 12, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE. ** M2 IS DEFINED AS. CURRENCY, DEMAND DEPOSITS PLUS NET TIME DEPOSITS (SEE PAGE 6). MONEY STOCK PLUS NET TIME DEPOSITS (M2) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING. 7/14/71 11/10/71 12/15/71 1/12/72 2/9/72 3/15/72 4/12/72 5/10/72 7.6 8.8 9.7 9.0 10.1 11.6 TO THE AVERAGE OF FOUR WEEKS ENDING. 12/15/71 1/12/72 2/ 9/72 3/15/72 4/12/72 5/10/72 6/14/72 7/12/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5.6 6.7 7.5 8.7 8.7 8.5 8.7 9.0 10.6 11.2 12.6 11.8 11.0 11.0 11.2 13.0 14.2 12.8 11.6 11.5 11.6 14.5 12.6 11.2 11.1 11.3 12.6 10.8 10.8 11.1 PREPARED BY FEDERAL. RLSLRVE BANK OF ST. LOUIS r * CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS WEDNESDAY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS I 1 I 1 L J11 5 19 2 16 30 14 23 JUL 11 25 3 22 AUG 3 20 3 17 OCT NOV 1 IS 21 12 M • 23 « 22 S IS 3 IT 31 14 23 12 2« LATEST DATA PLOTTED WEEK END IMGi JULY 12, 1072 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.fi RELEASE. NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 3100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis money and time deposit data 1872 MAY 3 10 17 24 31 JUNE 7 14 21 28 JULY 5 12 19 26 CERTIFICATES OF DEPOSIT BILLIONS NET TIME DEPOSITS X 35.6 36.0 36.2 36.6 36.7 36.8 37.3 37.0 37.3 37.4 37.8 249.5 250.0 250.7 251.3 252.1 252.7 253.4 254.2 254.6 255.8 255. 1 M2 JK 484.2 484.5 487.4 486.3 488.4 489.3 490.0 491.5 490.7 493.8 496.0 X SEE FOOTNOTE PACE 6. XX SEE FOOTNOTE PAGE 7. 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 r - CREDIT PROXY ADJUSTED 1/ CREDIT PROXY 5 19 2 16 30 H 26 JUL 11 25 8 22 AUG 6 20 3 OCT NOV 17 1 15 29 12 26 JAN 9 23 6 22 5 19 3 17 31 FEB 1971 14 26 12 26 JUN JUL 1972 LATEST DATA PLOTTED WEEK ENDING: JULY 12, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. 1/ INCLUDES MEMBER BAI* DEPOSITS, BATK-RELATED COMMERCIAL PAPER, EURODOLLAR BORROWINGS OF U.S. BANKS, AND CERTAIN OTHER NONDEPOSIT SOURCES. ISZi JUN. 7 14 21 28 JUL. 5 12 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis B1LL1ONS CRED1T PROXY CRED1T PROXY ADJUSTED 379.4 378. 1 379.9 377.3 380.7 381.0 383.2 381 .6 383.7 381.3 384.5 384.5 COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF THE FOUR WEEKS ENDING JULY 12. 1972 FROM THE FOUR WEEKS ENOING: CREDIT PROXY CREDIT ADJUSTED PROXY MAY APR. MAR. FEB. JAN. DEC. JUL. 10, 12, 15, 9, 12, 15, 14, 1972 1972 1972 1972 1972 1971 1971 9.3 10. 1 12.1 12.2 11.4 12.4 10.5 9.5 10. 1 12.0 11.9 11.3 11.7 10.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT 8.0 -- PERCENT -- 8.0 CORPORATE AAA BONDS PRIME COMMERCIAL LOAN RATE DISCOUNT RATE THREE-MONTH TREASURY BILL MARKET YIELD I I I I 7 21 MAY 4 1a 2 16 30 13 27 10 24 6 22 5 IS JUN 3 17 31 14 26 11 JAN 25 10 24 FEB 5 APR 1972 1971 10 2 16 30 14 26 MAY LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JULY 21, 1972 1972 MAY 5 12 19 26 JUNE 2 9 16 23 30 JULY 7 M 21 X 28 CORPORATE Aaa BONOS 3-MONTH TREASURY BILLS 3-5 YEAR GOVERNMENT SECURITIES LONG-TERM GOVERNMENT SECURITIES MUNICIPAL BONDS XX 7.34 7.33 7.30 7.27 7.23 7.24 7.25 7.23 7.21 7.20 7.20 7.19 3.56 3.58 3.74 3.78 3.82 3.86 3.87 3.97 3.96 4.05 4.03 3.91 5.72 5.73 5.71 5.62 5.64 5.71 5.73 5.81 5.87 5.86 5.85 5.80 5.69 5.69 5.64 5.57 5.56 5.59 5.59 5.58 5.61 5.61 5.59 5.58 5.35 5.39 5.29 5. 19 5.15 5.31 5.36 5.43 5.43 5.43 5. 44 N. A. * AVERAGES OF RATES AVAILABLE. #JR 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 8.0 -- PERCENT -- 8.0 COMMERCIAL PAPER 4-T0-6 MONTH FEDERAL FUNDS RATE 7 21 4 18 MAY JUN 2 16 30 13 27 10 24 * 22 5 10 3 17 31 14 23 11 25 10 24 7 21 5 10 2 18 JUL AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN 1971 1972 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* JULY 21, 1972 MAY 5 12 19 26 JUNE 2 9 16 23 30 JULY 7 14 K M-oo M http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1972 PRIME COMMERCIAL PAPER 4-6 MONTH FEDERAL FUNDS PRIME BANKERS’ ACCEPTANCES 90 DAY CD’S** 4.SS 4.50 4.50 4.50 4.50 4.50 4.63 4.65 4.83 4.88 4.88 4.88 4.19 4.19 4.32 4.25 4.50 4.49 4.40 4.42 4.56 4.69 4.53 4.43 4.25 4.25 4.25 4.25 4.25 4.35 4.38 4.53 4.70 4.75 4.75 4.75 4. 49 4.46 4.41 4. 40 4. 40 4. 43 4.56 4.61 4.67 4.78 4.93 4.89 * AVERAGES OF RATES AVAILABLE. FEDERAL FUNDS LAST FIVE DAYS AVAILABLF ** DATA ARE SECONDARY MARKET RATES, WEEKLY AVERAGES END ING WEDNESDAY TWO DAYS EARLIER. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS BORROWINGS AND EXCESS RESERVES ALL MEMBER BANKS IN THE NATION AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS BILLIONS OF DOLLARS 1.6 BORROWINGS 1.2 0.8 0.4 EXCESS RESERVES -0.4 -0.4 0.8 - - 0.8 NET FREE RESERVES -I .6 3 19 30 14 28 11 25 JUL AUG 6 22 6 20 OCT 3 17 NOV 1 15 29 12 26 9 23 JAN FEB 6 22 S 19 3 17 91 14 26 12 26 LATEST DATA PLOTTED WEEK ENDING. JULY 10, 1072 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MILLIONS 1072 MAY 3 10 17 24 31 JUNE 7 14 21 28 JULY 5 12 19 26 EXCESS RESERVES 136 191 194 86 88 331 109 212 125 385 ^272 169 BORROWINGS 117 87 39 63 254 58 94 59 135 313 226 175 FREE RESERVES - - 19 104 155 23 166 273 15 153 10 72 46 6 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS - 1.2 - 1.6
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