Full text of U.S. Financial Data : Week Ending: July 30, 1975

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

Week ending: July 30, 1975

JUN 0 8 1979

Short-term market interest rates have risen
in the last two months, but are substantially below
the peaks reached about a year ago. Yields on prime
four- to six-month commercial paper, for example,
averaged 6.46 percent in the latest week, up about one
percentage point since late May but down from 11.95
percent in mid-July of last year. The three-month
Treasury bill rate, averaging 6.27 percent in the
latest week compared to 9.37 percent in late August of
last year, has also risen about one percentage point
since late May.
Most large commercial banks recently adjusted
their prime lending rate upward, first from 7 to 7.25
percent and then to 7.5 percent. These are the first
widespread increases in the prime rate since July 1974
when it reached 12 percent.
Yields on long-term corporate Aaa bonds and
long-term Government securities have also declined from
the highs of last fall, but, on balance, only about
one-half of a percentage point. In the latest week the
corporate Aaa rate averaged 8.84 percent and yields on
long-term Government securities averaged 6.91 percent.
Both are almost unchanged from late May.
The declines in interest rates in the past
year accompanied a further slowdown in economic
activity and decreases in private demand for credit.
Total bank loans, after increasing at about a 23
percent rate from January to July 1974, were essentially
unchanged to January 1975 and then declined at about a
6 percent rate from January to June of this year. In
contrast, total bank investments declined from July 1974
to January 1975, but from January to June 1975, rose at
a 31.5 percent annual rate.

I


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

Prepared by Federal Reserve Bank of St. Louis
Released: August 1, 1975

MONETARY BASE

AVERAGES OF DAILY FIGURES
BILLIONS OF DOLLARS

5 19

5 17 31

SEASONALLY ADJUSTED BY THIS BANK

14 26 11

AUG

25

SEP

9 23

6 20

4 18

NOV

DEC

1

15 29 12 26 12 26

1974

BILLIONS OF DOLLARS

9 23

7 21

4 18

2 16 30 13 27

1975

LATEST DATA PLOTTED WEEK ENDING: JULY 30. 1975
THE MONETARY BASE CONSISTS OF MEMBER BANK RESERVES AT THE FEDERAL RESERVE BANKS AND CURRENCY
IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF CQMMERCIAI BANKS), ADJUSTED
FOR RESERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE SAME TYPE OF DEPOS TS BETWEEN BANKS
WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY. THE MAJOR SOURCES OF THE MONETARY BASE ARE
FEDERAL RESERVE CREDIT AND THE GOLD STOCK. DATA ARE COMPUTED BY THIS BAN!', A DETAILED DE­
SCRIPTION OF THE SOURCES ANO 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 ENDING:
7/31/74

10/30/74

1/1/75

1/29/75

3/5/75

4/2/75

4/30/75

5/28/75

9. 1
6.7
6.8
7.4
7. 1
6.4
7.7
7.3

5.8
6.3
7.3
6.9
5.9
7.8
7.2

1.5
4.5
4.5
3.6
6.6
6.0

9.4
7.9
6.0
9.0
7.9

8.0
5.2
9.4
8.0

2.2
8.7
7. 1

10.6
8.0

11.8

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/ 1/75
1/29/75
3/ 5/75
4/ 2/75
4/30/75
5/28/75
7/ 2/75
7/30/75

2

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

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

1975

RATIO

J-L.1 I I I
LATEST DATA PLOTTED WEEK ENDING: JULY 23, 1975

r

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
108

COMPOUNDED ANNUAL RATES
___OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING
_ JULY 30, 1975 FROM
THE FOUR WEEKS ENDING.

106

104
FEDERAL RESERVE CREDIT

---- MAR
—JUL.

102

31

100

98

96

SIS.

MILLIONS
94

92
1 1 I 1 I I
5 19

3 17 31

M 28 11

AUG

SEP

25

9 23

6 20

4 18

NOV

DEC

1

15 29 12 26 12 26

FEB

MAR

9 23

7 21

MAY
1975

4 16

2 16 30 13 27

JUN

LATEST DATA PLOTTED WEEK ENDING: JULY 30, 1975
1/ RATIO OF MONEY STOCK (Ml) / MONETARY BASE.
2/ DEFINED TO INCLUDE HOLDINGS OF SECURITIES, LOANS, FLOAT AND *'OTHER’• ASSETS, ADJUSTED
FOR RESERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE SAME TYPE OF DEPOSIT^ BETWEEN
BANKS WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY.
DATA ARE SEASONALLY ADJUSTED
BY THIS BANK.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK PLUS NET TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
660
655

647.6
649. 1
648.7
649.6
652.4
652.6

650
645
640
635
630
625
620
615
610
605
600
595

5 19

3 17 31

14 26 11

25

9 23

JJJJLLL L 11

6 20

4 13

NOV

DEC

1

13 29 12 i
FEB
MAR

1974

2 16 JO L _7

1975

LATEST DATA PLOTTED WEEK ENDING: JULY 23, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.

MONEY STOCK PLUS NET TIME DEPOSITS <M2)
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
7/24/74

10/23/74 12/25/74

1/22/75

2/26/75

3/2S/75

4/25/75

5/21/75

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/25/74
1/22/75
2/26/75
3/26/75
4/23/75
5/21/75
6/25/75
7/23/75

4


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

5.8
5.4
5.9
6.7
6.8
7.2
8.6
8.6

5.8
6.6
7.7
7.8
8.1
10.0
9.9

6.2
8.3
8.2
8.6
11.0
10.7

10.6
9.8
9.9
12.5
11.9

10.5
10.5
13.7
12.8

9.2
13.9
12.7

16. 3

14.2

15.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK

AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

294.1
293.7
293.5
295.2
294.9

9 19

3 17 51

14 29 It

AUG

29

SEP

9 29

6 20

4 19

NOV

DEC

1

19 29 12 26 12 2S

FEB

MAR

9 29

7 21

4 19

MAY

JUN

2 16 90 19 27

1975
LATEST DATA PLOTTED WEEK ENDING: JULY 25, 1975
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 NGNBANK PUBLIC.

COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING:
7/24/74

10/25/74 12/25/74

1/22/75

2/26/75

5/26/75

4/25/75

5/21/75

6.9
5.5
6. 1
9.4
8.2

8.1
8.0
11.9
9.9

5. 1
11.2
8.9

15.4
11.0

12.4

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/25/74
1/22/73
2/26/75
5/26/75
4/25/75
5/21/75
6/25/75
7/25/75


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

3.8
1.9
1.8
3.1
3.1
3.5
5.3
5.0

2. 1
2.0
4.1
3.8
4.4
6.7
6.2

-2.8
2.1
2.2
3.2
6.6
5.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

YI ELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT
t=j 13.5

13.5 r13.0

13.0

12.5

12.5

12.0

12.0

11.5

11.5

11.0

11.0
PRIME BANK
LOAN RATE

10.5

10.5

10.0

10.0
90 day CD’Ssee*

9.5

9.5
CORPORATE Aaa BONDS

9.0

9.0

8.5

8.5

8.0

8.0

7.5

MUNICIPAL
BONDS**

7.5

7.0

r~—

7.0

6.5

6.5

6.0

6.0
COMMERCIAL PAPER

5.5

5.5

5.0

5.0

4.5

4.5

0

I I I I

I I I

I I I I

I I I

1 I I

7 21

5 19 2 16 SO 13 27 11

JUN

JUL

AUG

SEP
1974

25

OCT

I I I I
6 22

NOV

I I 1
6 20

DEC

I 1 I I

I I I

3 17 31

JAN

1 I I

I I 1

14 26 M 26 11

FEB

MAR

APR

I I I

I 1 I

25 9 23

I 1 I I

6 20

3 18

1

MAY
1975

JUN

JUL

AUG

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: AUGUST 1,

1975
JUNE

6
13
20
27
JULY 4
1 1
18
25
AUG.
1 X
8
15
22
29

6

15 29

1975

90 DAY
CD’S see*

PRIME
C0M4ERCIAL
PAPER
4-6 MONTH

PRIME
BANKERS’
ACCEPTANCES

CORPORATE
Aaa BOfCS

MUNICIPAL
BONDS SB*

5.58
5.71
5.55
5.93
6.46
6.61
6.43
6.51
6.66

5.60
5.63
5.65
6. 18
6.34
6.45
6.43
6.48
6.46

5.59
5.55
5.58
6.03
6.19
6.38
6.34
6.52
6.51

8.85
8.76
8.73
8.75
8.82
8.85
8.82
8.85
8.84

7.05
6.80
6.93
7.00
6.96
6.98
7.09
7.22
N.A.

* AVERAGES OF RATES AVAILABLE.
39* BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
see* SEVEN-DAY AVERAGES OF SECONDARY MARKET RATES FOR THE WEEK END ING WEDNESDAY TWO DAYS
EARLIER THAN DATES SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE.
N.A. - NOT AVAILABLE
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS


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

0

SELECTED SHORT-TERM

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT
14.0

1 4.0

15.5
13.0
12.5
12.0
11.5

11.0
10.5

10.0

10.0

FEDERAL FUNDS RATE

9.5
5.0
8.5

8.0
7.5
7.0
THREE-MONTH TREASURY
BILL MARKET YIELD

6.5

DISCOUNT RATE

6.0
5.5
5.0
4.5
7 21

8 IS

JUN

JUL

2 16 30 13 27 11 25

6 22

6 20

3 17 31

M 26 M 28 11

FEB

MAR

25

9 25

APR

6 20
JUN

4 18
JUL

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: AUGUST 1,

1975
JUNE

6
13
20
27
JULY 4
11
18
25
AUG.
1 X
8
15
22
29

1

15 29

1975

FEDERAL
FUNDS 9K

3-MONTH
TREASURY
BILLS

1-YEAR
TREASURY
BILL

3-5 YEAR
GOVERNMENT
SECURITIES

LONG-TERM
GOVERNMENT
SECURITIES

5.24
5.15
5.31
5.72
6.31
6.06
5.93
6. 14
6.25

5.23
5.00
5.24
5.80
5.98
6.06
6.05
6.27
6.27

5.77
5.50
5.74
6.32
6.47
6.50
6.53
6.82
6.84

7.29
7.05
7.14
7.49
7.62
7.65
7.67
7.79
7.81

6.96
6.81
6.82
6.85
6.89
6.89
6.87
6.90
6.91

* AVERAGES OF RATES AVAILABLE.
**
*VERAG£S F0R WEEK ENOING 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

0

NET TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS of dollars

8IUIQNS.
Z~ JUN.

5 19

353.5
354.3
355.0
356. 1
357.2
357.7

5 17 31

14 29 11

AUG

25

9 23

SEP

6 20

4 13

NOV

DEC

1

15 29 12 29 12 2«

FEB

9 23

7 21

4 16

2 19 90 13 27

MAR

1974
LATEST DATA PLOTTED WEEK ENDINGi

JULY 23.

1975

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
CERT IFI CATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN
DENOMINATIONS OF *100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BAfKS.

NET TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
7/24/74 10/23/74 12/25/74 1/22/75 2/26/75 3/26/75 4/23/75 5/21/75
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/25/74
1/22/75
2/26/75
3/26/75
4/23/75
5/21/75
6/25/75
7/23/75

8

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

7.7
8.6
9.6
9.9
10.2
10.4
11.6
11.8

9.2
10.7
11.0
11.3
11.5
12.9
13.1

14.5
13.9
13.6
13.5
15.0
15.0

13.8
13.4
13.3
15. 1
15. 1

12.6
12.7
15.3
15.2

12.7
16.1
15.8

17.7
16.8

18.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

BILLIONS OF DOLLARS

1815.
JUN.

18

BILLIONS OF DOLLARS
23C

BILLIONS
222.9
223.4

222.0
223.8
223.4

225

22C

215

210

5 19

3 17 31

14 28 11

AUG

25

SEP

9 23

• 20

4 18

NOV

DEC

1

15 29 12 28 12 28

1974

9 23

4 18

2 16 30 13 2?

1975

LATEST DATA PLOTTED WEEK ENDING: JULY 23. 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANCE, AVERAGE OF FOUR WEEKS ENDING:
7/24/74 10/23/74 12/25/74 1/22/75 2/28/75 3/28/75 4/23/75 5/21/78
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/25/74
1/22/75
2/28/75
3/28/75
4/23/75
5/21/75
6/25/75
7/23/75


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

1.4
-0.8
-0.8
0.8
0.9
1.5
3.6
3.4

-0.7
-0.7
1.9
1.9
2.6
5.4
4.9

—6.0
-0.2
0.3
1.6
5.5
4.9

5.8
4.5
5.2
9.1
7.9

7.8
7.7
12.2
10.0

4.6
11.5
9.0

16.2
11.3

13.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
102
100
98
96
94
92
90

88
86

84
82
80
78
76
74
72
70
5 19

3 17 31

14 28 11

AUG

25

9 23

SEP
1974

A 20

4 18

NOV

DEC

1

15 29 12 26 12 26

FEB

LIU

MAR

9 23

7 21

MAY
1975

4 16

2 16 30 13 27

0

JUN

LATEST DATA PLOTTED WEEK ENDING: JULY 23, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF #100,000 OR MORE BY LARGE
WEEKLY REPORTING COMMERCIAL BANKS.

1975
JUNE

4
11
18
25
JULY
2
9
16
23
30
AUG.
6
13
20
27

CERT 1F1 CATES CERTIFICATES
OF DEPOSIT
OF DEPOSIT
NOT SEAS. ADJ.
SEAS. ADJ.
83. 1
82.9
82.3
81.7
81.7
81.4
81.2
81.3

83.9
84. 1
84. 1
84.2
84.2
83.6
82.9
81.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

10

http://fraser.stlouisfed.org
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

1975
JUN.

MILLIONS
25

■E 2.0

5 19

5 17 II

H 2» II

25

9 29

0 20

4 19

NOV

DEC

1

15 29 12 M 12 20

FEB

9 23

7 21

4 19

o

2 10 30 19 27

MAR

1974

1975

LATEST DATA PLOTTED WEEK ENDING]

JULY 50.

1975

BUSINESS LOANS
( COMMERCIAL AND INDUSTRIAL )

BILLIONS OF DOLLARS

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
134
132
130
128
126
124
122
120
118

COMPOUNDED ANNUAL RATES
— OF CHANGE. AVERAGE OF
— THE FOUR WEEKS ENDING
JULY 23. 1975 FROM
~ THE FOUR WEEKS ENDING*
_MAY
APR.
“ MAR.
— FEB.
_ JAN.
OCT.
“JUL.
5 19
JUN

21,
23,
26,
26,
22,
23,
24,

1975
1975
1975
1975
1975
1974
1974

3 17 31

116

-13.1

JUN. 18

-13.6
-13.8
-14.5
-8.2
-3.1

14 29 11

25

9 23

0 20

4 10

NOV

DEC

1

15 29 12 20 12 20

FEB

MAR

9 23

-

114

-

112

-

110

-

108

I II 1 I
7 21

4 10

MAY

JUN

2 10 30 13 27

1974
LATEST DATA PLOTTED WEEK ENDING* JULY 23,


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

1975
PREPARED BY FEOERAL RESERVE BANK OF ST. LOUIS

11

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

BILLIONS OF DOLLARS


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

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF THE FOUR WEEKS Ehd ING
JULY 23, 1975 FROM THE FOUR
WEEKS ENDING:
CREDIT
CREDIT
PROXY
PROXY
ADJUSTED
21,
23,
26,
26,
22.
23.
24.

APR.

1975
1975
1975
1975
1975
1974
1974

CREDIT PROXY ADJUSTED

1/

CREDIT PROXY
BILLIONS
CREDIT
PROXY
502.4
500.5
498.9
498. 1
499.8
498.8

CREDIT
PROXY
ADJUSTED
509.2
507.3
505.4
504.6
506.4
505.9

I I I I 1 I I
5

18

3

17 31

14 28

11

25

8 23

6 20
NOV

4 18
DEC

1

15 28 12 26 12 26
FEB
MAR

8 23

7 21
MAY

4 18
JUN

2

16 50 13 27

1974
LATEST DATA PLOTTED WEEK ENDING:
CURRENT DATA APPEAR
1/

JULY 23,

1975

IN THE BOARD OF GOVERNORS*

H.9 RELEASE.

INCLUDES MEMBER BANK DEPOSITS, BANK-RELATED COMMERCIAL PAPER,
U.S. BANKS, AND CERTAIN OTHER NONDEPOS T SOURCES.

EURODOLLAR BORROWINGS OF

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS