Full text of U.S. Financial Data : Week Ending: July 30, 1969
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research federal R- of St. Louis u.s. finonciflL 1969 drtr Week ending: July 30, MIG 2 7 1996 Growth rates of monetary aggregates have been markedly lower since December than during the previous year. With respect to money and its demand deposit component, the past seven months can in turn be divided into a period of moderate growth followed by one of no change or decline. From December to April both of these magnitudes had increased at about a 4 per cent annual rate, down from more than 6 per cent during 1968. Since April the money stock has shown little net change (page 5), and demand deposits have declined at a 2.6 per cent rate (page 4). Total member bank reserves have fallen from about $27.8 billion in May and early June to about $27 billion in the past four weeks, after about no net change over the previous five months and a 7 per cent rise in 1968 (page 3). The monetary base has grown at a 1.8 per cent rate since April, about half the rate from December to April, compared with 6.5 per cent in 1968 (page 2). Most interest rates increased rapidly in May and June, but since late June appear to have leveled off in spite of continued monetary restraint (pages 10 and 11). Yields on prime four- to six-month commercial paper, bankers' acceptances, and secondary market certificates of deposit rose about 1-1/2 percentage points http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis from April to reach 8-1/2 per cent or more in late June or early July. In the week ending July 4 yields on commercial paper averaged 8.66 per cent and yields on bankers' acceptances averaged 8.50 per cent. In the three days ending July 30, these rates were 8.54 per cent and 8.21 per cent, respectively. Some long term rates have been stable since about early June. Bank lending has come under additional pressure from the loss of CD's as market rates have re mained well above Regulation Q ceilings (page 7). Until early June, business loans at large banks (page 9) had continued to increase rapidly as banks liquidated security holdings and borrowed Eurodollars. During the past two months, these loans have declined slightly. The volumes of outstanding commercial paper and bankers' acceptances in June showed a marked increase. From December to June, a period in which negotiable CD's declined $8 billion, commercial paper increased $4 billion (page 6). Bankers' acceptances increased from $4.4 billion in December to $4.9 billion in June, while the percentage of these acceptances held by commercial banks declined from 35 per cent to 31 per cent. Rates of change reported in this release are intended to serve as summaries which may be useful in analyzing recent developments. Prepared by Federal Reserve Bank of St. Louis Released: August 1,1969 MONETARY BASEJ1 FEDERAL RESERVE CREDITJ2. Averages of Daily Figures Billions of Dollars Billions of Dollars Seasonally adjusted by this bank. ----- Annual rates of change, average of four weeks j_ ending .July 30, 1969 from four weeks ending: Monetary Base F.R. Credit JT April 30, 1969 + Y -J Dec. 25, 1968 1957-1968 — Monetary Base Monetary Federal Reserve Credit 1/ Uses of the monetary base are member bank reserves and currency held by the public and nonmember banks, adjusted for reserve requirement changes and shifts in deposits. For a description of the base see the August 1968 Review of this bank. n,*n 77, ou<, p u.ssn ' y r -----2/ Defined to include holdings of securities, loans, float, and "other" assets, adjusted ___for reserve requirement changes and changes in --Latest data preliminary — requirements due to shifts in deposits among ““Latest data plotted week ending: July 30, 1969 classes of banks. 10 24 7 21 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 18 2 Sept. 16 1968 30 13 27 11 25 8 22 5 19 5 19 2 16 30 14 28 Apr. May 11 25 9 June 1969 23 6 20 3 17 1 15 29 12 26 Prepared by Federal Reserve Bank of St. Louis 10 24 7 21 1970 All Member Baines in the Nation Averages of Daily Figures Billions of Dollars 29.5 29.0 Billions of Dollars Annual rates of change, average of four weeks ending July 30, 1969 from four weeks ending: 29.5 — ?* April 30, 1969 Jan. 29, 1969 Oct. 30, 1968 - 7• / 29.0 1959-1968 28.5 28.0 TOTAL 27.5 27.0 27.0 26.5 26.0 26.0 Total VReserves 25.5 25.5 25.0 25.0 ? <*!<*. 9 Series revised by the Board of Governors to reflect a new seasonal adjustment and to adjust for recent changes in reserve requirements. Current data appear in the Board H. 9 release. 3o P, 24.5 24.0 0 10 24 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 4 18 2 Sept. 1968 16 30 13 27 11 25 8 22 5 19 5 19 2 16 30 14 28 11 25 June 23 July 6 20 Aug. 3 17 Sept. 1 15 29 12 26 10 24 7 DEMAND DEPOSIT COMPONENT OF MONEY STOCK* 4 "veiuges or ua i ly ngures Billions of Dollars Billions of Dollars Seasonal ly Ad usted Annual rates of change, average of four weeks ending July 23, 1969 from four weeks ending: April 23, 1969 -<3-(a July 24, 1968 Dec. 25, 1968 - 1957-1968 7 — Latest data preliminary _Latest data plotted week ending: 10 24 7 21 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 18 30 _ 13 27 11 25 P 19 5 19 2 16 30 14 data appear in the June 1968 Federal Reserve Bulletin. —, July 23, 1969 For trend of demand deposits by months see this bank's__ monthly release entitled "Monetary Trends". — 28 11 25 June 9 23 Jll lv 6 20 3 17 1 Sept. I’repared by Federal Reserve Bank of St. Louis 10 24 7 21 Billions of MON Averages < liars 5TOCK aily Figures Ad us ted Billions of Dollars Annual rates of change, average of _“from four weeks ending: -----April 23, 1969 1957-1968 Current data on money appear in the Board's H.6 release. Back data appear in the June 1968 Federal Reserve Bulletin. For trend of money stock by months see this bank's monthly release entitled "Monetary Trends". . —■Latest data preliminary Latest data plotted week ending: 10 24 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 4 18 2 16 Sept. 1968 30 13 July 23, 1969 27 Nov. 11 25 Dec. 8 22 Jan. 5 19 5 19 Mar. 2 16 30 14 28 11 25 9 23 Jul v June 1969 6 20 3 17 Sept. 1 15 29 12 26 Hov. Prepared by Federal Reserve Bank of St. Louis 10 24 Dec. 7 21 Jan. 1970 CERTIFICATES OF DEPOSIT H AND COMMERCIAL PAPER [2 Outstanding Vol um e Billions of Dollars Billions of Dollars 33.0 33.0 31.0 Certificates of Deposit Commercial Paper latest data plotted: 1964 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis June 1969 ri i l i 1/ Negotiable time certificates of deposit in denominations of $100,000 or more at large commercial banks. Monthly averages of Wednesday figures. Data prior to July 1965 estimated by the Federal Reserve Bank of St. Louis. 2/ Total volume of commercial paper outstanding. Averages of current and preceding end-of-month seasonally adjusted figures. 1968 1969 Prepared by Federal Reserve Bank of St. Louis 7 NEW ISSUE RATE ON CERTIFICATES OF DEPOSIT H EALERS' OFFERING RATE ON COMMERCIAL PAPER Per Cent 9.5 Commercial Paper <£. OO Certificates of Deposit Latest data plotted: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis June 1969 \J Average new issue rate on 6 month certificates of deposit of $100,000 or more. Estimated by the Federal Reserve Bank of St. Louis from guide rates published in the Bond Buyer, 2/ Prime commercial paper, 4- to 6- months maturity. Averages of dealers' daily offering rates. Prepared by Federal Reserve Bank of St. Louis lion MONEY STOCK PLUS TIME DEPOSITS MONEY STOCK PLUS U.S. GOVERNMENT DEMAND DEPOSITS Averages of Daily Figures Seasonally Adjusted of Dollars Billions of 410 408 406 404 402 400 398 Money Stock plus Time.Deposits Annual rates of change, average of four weeks ending July 23, 1969 from four weeks ending: April 23, Jan, 22, Oct. 23, July 24, 39(.,9 39 s.S Money Stock plus Time Deposits J9V.4. 3tS.S 394^3 393.4 1957-1968 3 93.9 393, f 396 392? 394 392 390 388 386 Current data appear in the Board s H.6 release. Back data appear in the June 1968 Federal Reserve Bulletin, jFor trend of money stock plus time deposits by months see this bank's monthly release entitled "Monetary Trends" 384 382 380 378 376 374 A OO-A 372 plus Government Deposits 198 Money Stdck Plus D.S. Government Demand Deposits 9 197 3.0/0 196 195 Annual rates of change, average of four weeks ending July 23, 1969 from four weeks ending: 194 193 192 191 190 189 188 Current data on money appear in the Board’s H.6 release. Back data appear in the June 1968 Federal Reserve Bulletin. For trend of money stock by months see this bank's monthly release entitled "Monetary Trends". . U.S. Government demand deposits, all commercial banks, seasonally adjusted by this bank. I I I i i i Dec. 25, 1968 i_ _ i_ _ i_ _ i—i—i—i—i—i—t—i—i—i—J—i—I—i—i—l—t—i atest data preliminary atest data plotted week ending: 10 24 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis April 23, 1969 Jan. 22, 1969 Oct. 23, 1968 July 24, 1968 Sept. 1968 -J.c +- o.S + 3-Y + 'I-* 1957-.1968 [July 23, 1969 16 30 13 27 11 25 ' 8 Jan. Oct. Nov. Dec. I Mar. June Prepared by Federal Reserve Bank of St. Louis A99.J aIOC- 7 A.OJ,# Billi BUSINESS LOANS Large Com^^cial Banks Wednesaoy Figures of Dollars Billions of Dollars Seasonally ad justed by this bank. 84 84 Annual rate of change, average of four weeks ending July 23, 1969 82 from four weeks ending: April 23, 1969 + ° Jan. 22, 1969 -f/O.Z Oct. 23, 1968 July 24, 1968 82 4, /3-Z-h 7 J- ® 80 80 78 78 # 76 74 74 72 72 MILLIONS OF DOLLARS. SEASONALLY ADJUSTED 7C,3-79 70 7 4, 7 4 % 7L, i.ut 70, ?/V 68 7 7, 68 7 7, ,?5"5 7f,S?o 7 r, 4T/ * 70 74y 4 ' 74, 7 70 71,*oS 7 7, a 77J7Y 771, /SH 66 64 64 62 62 Current and year ago unadjusted data appear in the Board's H. 4.2 release. Seasonal adjustment computed by this bank using 1963 through 1968 data Latest data preliminary July 23, 1969 Latest data plotted: 0 0 July Aug. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Sept. Oct. 1968 Nov. Dec. Jan. Feb. Mar. Apr. May June July 1969 Aug. Sept. Oct. Nov. Prepared by Federal Reserve Bank of St. Louis Dec. Jan. 1970 YIELDS ON SELECTED SECURITIES Averages ofDaily Rates Ended Friday Per Cent 9.50 1969 ____ Lr ■Month isury l 3-5 Year Per Cent 9.50 Long Term ■5. 93 9.00 9.00 6 JO 8.50 8.00 8.00 --------Prime Commercial -----Loan Rate 7.50 Corporate Aaa Bonds 7.00 6.50 6.50 Three-Month Treasury Bill Market Yield 6.00 Long- Term "Government Bonds 5.50 Discount Rate 5.00 4.50 4.00 4.00 3.50 0 ’ ^-Latest data plotted are averages of rates available for the week ending: August 1, 1969 l_l_I_I_i_l_J__1_L 7 10 24 7 15 29 13 21 7 21 4 18 16 30 13 27 11 25 12 26 9 23 6 20 4 May June July Jan. Mar. Oct. 1969 kGES OF RATES AVAILABLE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 22 g. 5 19 Sept. 3 17 31 14 28 12 26 Oct. Nov. Dec. Prepared by Federal Reserve Bank of St. Louis 9 23 Jan. 1970 SELECTED SHORT-IWM INTEREST RATES Averages of Daily Rates Ended Friday Per Cent 10.00 Prime Commercial Prime Paper Bankers' 4-6 Month Acceptances " " 7-os 7■ /f 10.00 90 Day 7. oo 7.Vf 9.00 7, SO 7, So 7 So 7.9 o .■ruL^ (s _ 7. CC 7. So S. (.3 F-3S S.sf 8.00 f. 73 Federal Funds S’. OS' 7 /G r rs r. 7T r. ss V- So f. t>S Per Cent r.TU ?. 7S 9.50 Federal Funds Rate— 7 oS 7. C.S 7- // f. 7 S 7-St ?. /S 7. 3S 7.50 7. 38 -----Commercial Paper 4-to-6 Month 7.00 Bankers1 Acceptance s 6.50 6.00 6.00 Discount Rate 4.50 4.00 ;Batest data plotted are averages of rates available for the week ending: August 1, 1969 1 » I_I_L_*. 12 26 9 23 6 20 4 18 15- 29 13 27 10 24 7 21 7 21 4 18 2 16 30 13 27 Sept. ilov. Mar. June 1968 * 11 25 8 22 Aug. 19 Sept. 3 17 31 14 AVERAGES OF RATES AVAILABLE ** SOURCE: SALOMON BROTHERS AND HUTZLER http://fraser.stlouisfed.org SECONDARY MARKET RATE ON 90-DAY PRIME CD'S Federal Reserve Bank of St. Louis Prepared by Federal Reserve Rank of St. Louis ■ ' 28 12 26 Dec. 9 23 J an. 1970 12 BORROWINGS AND EXCESS RESERVES am Millions of Dollars 3,200 EXCESS RESERVES 3,000 - memDer da n ks in me rsanon Millions of Dollars Averages of Daily Figures FREE RESERVES BORROWINGS WEEKLY DATA 2,800 2,600 2,200 2,200 2,000 2,000 JBorr owings 1,800 1,400 1,200 Excess Reserves -Net Free Reserves 2,000 - 2,200 - -2,600 ^Latest data preliminary -3,000 4 18 Sept. 16 30 13 27 11 Nov. 1968 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 25 8 22 5 19 5 19 Mar. 2 16 30 ,pr. 14 28 11 25 May June 23 6 20 3 17 Sept. 1 15 29 12 26 10 24 Dec. 7 21 Jan. Prepared by Federal Reserve Bank of St. Inuis 4 18 4 18 Mar.