Full text of U.S. Financial Data : Week Ending June 14, 1967

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finflnCIAL DATA

Week ending June 14, 1967
FEDERAL RESERVE CREDIT

MEMBER BARK RESERVES (Continued)

(Page 2)

Federal Reserve credit, adjusted for changes in
reserve requirements, averaged $46.8 billion in the four
weeks ending June 14, up at a 10 per cent rate over the
past three months and at a l6 per cent rate over the past
six months. The $1.19 billion increase in this measure
from the four weeks ending March 15 to the latest four weeks
reflects the following changes;
^Federal Reserve net purchases
of Government securities
Member bank borrowings
from Reserve Banks
Effect of March reductions
in reserve requirements
Seasonal adjustment
Total Federal Reserve credit

+

$ 1.30 billion
MONEY STOCK

-

.19

+
-

.64
.56
$ 1.19 billion

This increase in Federal Reserve credit contributed to the
recent increase in member bank reserves.

MEMBER BANK RESERVES

Reserves available for private demand de­
posits have risen at an 8 per cent rate over the
past three months and at a 7 per cent rate over the
past six months. These reserves, which are total
reserves less those needed for Government, time, and
interbank deposits, are a chief determinant of the
level of private demand deposits and, therefore, of
the money stock.

(Pages 5 and 12)

The nation's money stock, private demand
deposits plus currency held by the public, averaged
$175 billion in the four weeks ending June 7, up at
a 9 per cent rate over the past three months and at
a 7 per cent rate over the past six months. These
rates are in marked contrast to the 1.5 per cent
rate of decline in money from early June to early
December and the 3 per cent average rate of growth
from i960 to 1965.

(Pages 3 and 12)

Total reserves of member banks, adjusted for changes
^in reserve requirements, averaged $23*5 billion in the four
weeks ending June 14.
Although these reserves have increased
at a 6 per cent rate over the past three months, almost all
of the increase took place in the last half of March. They
have shown little net change in the past two months.

Rates of change reported in this release are intended to
serve as aids for analyzing recent developments.
Longer
periods of time than covered here are generally required
to identify major turning points.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Monetary Trends, released monthly by this
bank5 provides information on several of
these series with more perspective. Longer-run
trends are presented in annual Triangles of
U. S. Economic Data, also available on request.

Prepared by Federal Reserve Bank of St. Louis
Released: June 16, 1967

FEDERAL RESERVE CREDIT [X
Weekly Averages of Daily Figures
Seasonally Adjusted by this Bank

Billions of Dollars

48

t2

2
Billions of Dollars

Annual rates of change of Federal Reserve Credit
adjusted for reserve requirement changes
average of four weeks ending June 14, 1967
- from four weeks ending:
Mar. 151 I967
f-/0. y
Dec. 14, 1966
-tSept. 14, 1966
June 15, 1966
+ #.3

48

47

47

Federal Reserve Credit Adjusted
for Reserve Requirement Chang

46

46

45

45
Federal Reserv

44

Federal Reserve Holdings of U.S. Government
and Federal Agency Securities

43

42.
0'

Latest data preliminary
rLatest data plotted week ending:
»

12

26

Oct.

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

1

1

1

1

1

1

1

1

)

"l6
30 7 i4
28
Dec.
Nov.
1966

1

June 14, 1967
i—I—1 —I—L
18 25
15 22
Jan.
Feb.

* Data beginning March 2, adjusted
for the effect of the changes in
...................
reserve requirements.
1/ Federal Reserve Credit excluding float and a few minor
items.
Seasonal adjustment for Federal Reserve Holdings
computed by this bank using data ending December 1965;
Borrowings from Federal Reserve not seasonally adjusted.
Unadjusted data appear in Board's H.4.1 release.
15
29 5 12 26
Mar.
Apr.

28 5 12 26
16
17
31 7 14
30 6 13
Aug.
Sept
May
June
July
1967
Prepared by Federal Reserve Bank of St. Louis

44

43

42

'0

RESERVES
All Member Banks in the Nation
Weekly Averages of Daily Figures

3

Billions of Dollars
24.5
1/ Data prior to March l6, 1967 adjusted for
estimated effect of reserve requirement changes,
and do not correspond with monthly series which
adjusts data to reserve requirements in effect
from September 1966 to March 1967•

Billions of Dollars
24.5 -I-- 1-- 1-- 1-- 1-- 1-- 1-- 1-- 1-- :—n-- 1-- 1-- 1-- 1-- |-- 1-- 1-- r
Seasonal adjustment computed by this
bank using data ending December 1965.
Unadjusted data appear in the Board's H.4.1.
release.
24.0 TOTAL RESERVES
-Annual rates of change, average of
- four weeks ending June 14, 1967
.from four weeks ending:
Mar. 15, 1967
+ 5-8
Dec. 14, 1966
+//. 7
Sept. 14, I966
-h t>-3
June 15, 1966
-h 3.5"

Total 1/

23.O

22.5

22.0

15.#

RESERVES AVAILABLE FOR
PRIVATE DEMAND DEPOSITS
Annual rates of change, average of
four weeks ending June 14, 1967
from four weeks ending
Mar. 15, 1967
Dec. 14, 1966
17-2*
Sept. 14, 1966
/ 3-f
June 15, I966

I 1 1 'I I
Reserves Available for
Private Demand Deposits

I—l—l—l—I—I—i—I—I—I—I—i
Latest data preliminary
Latest data plotted week ending: June 14, 1967
5 12
26 2
Oct.

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

16
30 7 14
28 4
18 25 1
15 22 1
Nov.
Dec.
Jan.
Feb.
1966

29 5 12
Apr

17
31 7 14
28 5 12 26 2
30 6 13
May
June
July
Sept.
1967
Prepared by Federal Reserve Bank of St. Louis

26 3

MONEY STOCK PLUS TIME DEPOSITS
Averages of Daily Figures
Seasonally Adjusted

ana of Dollars
352
350
348

“1—r—T—1—1

1

i i tof
“i change,
r~i i average
i i \ rof
Annuali rates
four weeks ending June 7, 1967
frost four weeks ending:
Mar. 8, 1967
+
>2j
7,
1966
*
Dec.
n.s
*
Sept. 7, 1966
7.3
June 8, 1966

•

Billions of Dol

.

1967

A

/aif
T‘
J*
f1'! u

t>.s

May i960 - May 1966

4

V

331.1
3yo.O

331.0
32
3 Yo< a*

3*

J

n 3yj. f
XI 3y</.J
•3J jys.3

tl.L'c

344

P

j*

342

i

340
A

338

f

7

r

336
334

330
328
326
324
322
320

0

Latest data preliminary
Latest data plotted week ending:
'

J

I

I

1

6 13
27 3
July

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

I

I

I

I

I

J

I

I

I

June 7, 1967
I

I

1

17 31 7 14
28 5 12
26
Aug.
Sept.
Oct.
1966

I

1

LJ

I

L

16
30 7 14 28 4
Nov.
Dec.

" ^urrcui; uaua appear in T,ne noara's n.o rexeas e.
Back data appear In the September 1966 Federal
Reserve Bulletin.
For trend of money stock plus time deposits hy
months see this bank's monthly release entitled
"Monetary Trends".

18 25 1
Jan.

15 22 1
Feb.

15
29 5
19 26 3
17 31 7 H
Mar.
Apr.
May
June
1967
Prepared by Federal Reserve Bank of St. Louis

MONEY STOCK*

5
Billions of Dollars

Billions of Dollars

Seasonally Adjusted
_ four weeks ending June 7> 19^7
180 _ from four weeks ending:

r

lit

t

t~

i-

-

-------- WEEKLY DATA--------------- ---- 1967___________

■hUJ
- June
_May

+ 3.1

8, 1966

I960

- May

.

sa. . 7

1966

+

3.3

-

.

J 7/6
fl0.f
a^J )7Zi*
/J

to

/7J.0

n 77 y. 7
ay

n+r

JV 77 7:/

174. ft

13-week centerec"
moving average

Weekly

* Current data appear in the Board's H.6 release. Back
'
data appear in the September 1966 Federal Reserve Bulletin
For trend of money supply by months see this bank's
.
monthly release entitled "Monetary Trends".

165-Latest data preliminary

2T317


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

lb
Sept.

30 7

14
Anr.
May
1967
Prepared by Federal Reserve Bank of St. Louis

Jan.

Feb.

Mar.

June

CERTIFICATES OF DEPOSIT 11
Large Commercial Banks
Wednesday Figures

Billions of Dollars

21.0

6
Billions of Dollars

Annual rates of change, seasonally unadjusted
data, average of four weeks ending June J, 1967
from four weeks ending:

21.0

__ May 1964 - May 1966

Current and year ago data appear in the
Board's R.k.2. release.
1/ Negotiable time certificates of deposit

Latest data preliminary
Latest data plotted:
June 7> 1967
5 12

26 2


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

16 30 7
Nov.

lh 28 k 11
Dec.

25

1 8

22

1

19 26 3

30 6 13
June

Prepared

Federal Reserve Bank

Louis

TIME DEPOSITS*
All Commercial Banks

7

Billions of Dollars

Billions of Dollars

Seasonally Ad justed

-Annual rates of change, average of
_ from four weeks ending:

f _

+ n.o

H.6 release
* Current data appear in the Board
data appear in the September 1966 Federal Reserve Bulletin.For trend of time deposits by months see this bank's
—
monthly release entitled "Monetary Trends".
S

Latest data preliminary
latest data plotted week ending: June 7, 1967


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

30 7 14

1966

28 k

18 25 1
Jan.

15 22 1

15

29 5 12

26 3

17

31 7

28 5 12

26 2

1967
Prepared by Federal Reserve Bank of St. Louis

BORROWINGS AND EXCESS RESERVES
Averages of Daily Figures

Millions of Dollars

11001

Millions of Dollars

Millions of Dollars
Excess Reserves

1100
1000
BiveeJ

Weekly
Biweekly Settlement Periods

Borrowings
Excess Reserves

Biweekly Settlement Periods

\

Net Free Reserves

Biweekly

Weekly
Borrowings

Net Free Reserves

-100

-100

- Bi] reekly

Biweekly Settlement Periods

Weekly
Latest data preliminary

9

15

23


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

Dec.

29

12

26

21

5

26

10

7

June

Prepared by Federal Reserve Bank of St. Louis

21

BUSINESS LOANS
Large Commercial Banks

9

Billions of Dollars

Billions of Dollars

— Annual rates of change, average of
_ four weeks ending June J, 1967
_ from four weeks ending:
_Mar. 8, 1967
-/■ + ?
Dec. 7> 1966
-h S'.!,
— Sept. 7, 1966
y
— June 8, 1966

Seasonally Adjusted bythisBank
For estimates of business loans of all commercial
~
banks on a monthly basis see this bank's "Triangles of U.S. Economic Data".
-

Current and year ago unadjusted data appear in
the Board's K.h.2, release. Seasonal adjustment
Latest data preliminary
Latest data plotted:


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

30 7 14 2a

computed by this bank using
1964 data.

1958

through July

k
Sept.

1966

1967
Prepared by Federal Reserve Bank of St. Louis

10

YIELDS ON SELECTED SECURITIES
Weekly Averages of Daily Rates Ended Friday

Per Cent

Per Cent

Corporate
Aaa Bonds

Long-Term
Government Bonds

Discount Rate

Three-Month Treasury
Bill Market Yield

Latest data plotted are averages of rates available for the week ending: June


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

I

I__I__L

30 6 13

27 3

■
17 2k 3

............"
17 31 7 Ik 28 5 12

■
21

16,
'

1967

'

1__I
16 30 7

l£

28 4 " i'8 25 1

Prepared by Federal Reserve Bank of St. Louis

SELECTED SHORT-TERM INTEREST RATES
Per Cent

Cent

.

Prime Commercial Paper
4-to-6 Month

Acceptances

Discount Rate

O

U)

federal Funds Rate

7 14

i

1...1
28 4


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

I

18 25 2

1630613
Dec.

27 3

17243

I

I

I -X-__

I

i

Apr.

I

1

1

1

18 25 1
May
June
July
1967
Prepared by Federal Reserve Bank of St. Louis

31 7 lU 28 5 12 26 2

16

30 7 14 28 4

MEMBER BANK
AVERAGES OF DAILY FIGURES
WEEK ENDING WEDNESDAY
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
RESERVES
AVAILABLE
FOR PRIVATE
WEEK
ENDING DEMAND DEPOSITS

TOTAL
RESERVES

AVERAGES OF DAILY FIGURES
WEEK ENDING WEDNESDAY
MILLIONS OF DOLLARS
EXCESS

FREE

MONEY STOCK
*
AVERAGES OF DAILY FIGURES
WEEK ENDING WEDNESDAY
SEASONALLY ADJUSTED
BILLIONS OF DOLLARS

2.J.. n

JS7

/L 7

2/. 13

.IS?

202

+ /X7

7 72.0

2.

3 72

/73

+!??

/73- /

2.3. S3

SC.A

302

/-2LZ

/ 72. 7

23. CS

3fS

/ 3S

/ISO

7 73. 7

33.7V-

VYl

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23. VV

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23. UD

V7JP

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23. C,/

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7 7 3.0
77/6
/7/). (P

^7^ 3

/S'. 70

33.77

■YOS

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23.CC.

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nt.i

__ aS.vv

_______ £_ __ ts.n
______ AS /.r.f?
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S
7L.O/
r
/S.7/
______ 122
/S'-If
______ Z2_

______ a_
______

3/

Q^e, 7

cf

,

A


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

f

v/vr

/ 7/. O

/3 V

Y27/

/73.3-

327

03

f e2 b (p

/ 72 -0

33.SC.

3XC,

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YK.3

/7V. 7

/S.93

33.V 2-

323

SO

/273

/7Y.f

SC../-*

23. YS

3 77

/A2

r2U?

77S/

33. a

jy?

77

-h ZLL

usa

23.34

Slot

V3

/A.

07

/C,./f

P - PRELIMINARY

23./.

-

y

p

325"

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BUSINESS LOANS

LARGE CERTIFICATES OF DEPOSIT

LARGE COMMERCIAL BANKS

LARGE COMMERCIAL BANKS

WEDNESDAY FIGURES
MILLIONS OF DOLLARS
DATE

UNADJUSTED

P - PRELIMINARY


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

SEASONALLY
ADJUSTED

DATE

WEDNESDAY FIGURES
MILLIONS OF DOLLARS
SEASONALLY
UNADJUSTED ADJUSTED

DATE

UNADJUSTED

DATE

UNADJUSTED

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

^

SELECTED YIELDS
YIELDS OH U. S. GOVT. SECURITIES
LONG-TERM

3-5 YEAR

TREASNBILL

PER CENT PER ANNUM
AVERAGES OF DAILY FIGURES
WEEK ENDING FRIDAY

WEEK
ENDING

14

PRIME
COMMERCIAL
LARGE
PRIME
PAPER
CORPORATE
90 DAT
BANKERS
Aaa
4-6-MONTH ACCEPTANCES CD'S**
PER CENT PER ANNUM
FRIDAY
AVERAGES OF DAILY FIGURES
FIGURES
WEEK ENDING FRIDAY

FEDERAL FUNDS ~
PER CENT PER ANNUM
AVERAGES OF DAILY FIGURES
WEEK ENDING FRIDAY

/1L7^4 i.

4. 4(.

4.?x

4.//)

3.1/

7*. 60

3.3o

3.7o

33/__

_7±

*7-. 4o

4 7f.

4.3/

3.3.2.

3/4

3.43

3 60

3/0

XO

4.17

4.(3

4 7/

3/3

3.0/

3. It

3V3

4/0

4.0/

4.7.7.

.<.04

3.33

3.03

S.J3

4 7a
4.43

J.7

-J

4.37

4.7.4

4.49

3.039

3.40

4.7/

3/3

/o

4.47

4.7. 7

4.34

s, 00

3-3/

4 73

3x3

3.20

4. 77.

4.6.7

3, 0/

33?

4.99

4.23

__ 33%__

4

4. fiO

4.9/

//.OS'

33X

3.00

3J3

300

4. <1

4. 77)

447

3.//

31/

4.93

77
24
Thru)

\7

__ S./3__

4.30

so

4. 47

4.0,7

4.37

3. 72-

3.33

4/f

3./*__

4.70

77

4 4X,

4 SO

4.3/

3:73

323

4 70

493

433

34

4. 4D .

4 4<

4/4

.<73

433

■v. /o

4.73

A!

4.4.<

4.92.

4/3

3.734

3,70

4.43

4So

4./3

7

4.44

4. If.

3.93*

34/

3.00

4.3?

__ 4.33__

__ 4.33__

/¥

4-43

4.39

334

3./j_

43a

4.3?

4.30

3. So

XI

4.34

44/

.1 /S,

3, 7/

4 73__

443

___4-30__

Li

4 7,0-

4.7, S

1.73.

3.7/

4.73

4.23__ ___4.33

fV\CLU
3
<r----

4.7.7

4.7.3.

3. 73.

3.76,

/J2-

4.73

4.9 7

71

4 79

4.L1

4/3

4.14

I/XaJ
a

*

___ 9/3__

4/3__

4.30

3/9

4 70__ __ 4-33__

4 43

.1.39

. <aL

4.03

___4/3__

4 43

4lL

J3o

<3.3/

*/• g>3

393

3 30

4. 7 L,

9LL
4.1 f

3.9/

-3..11

4.JTJ.

f.jl

3.33

‘AVERAGES OF RATES AVAILABLE

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

1.73

__ 3.9 0
4oo
4.o>3

__ J 73__
4.o3

4/3
9x6

___930

3.90

4.40

397

4. u3

9 30

9.63

3.4o

3.38___ __ 433

4.38

___

SOURCE: SALOMON BROTHERS AND HUTZLER
SECONDARY MARKET RATE ON 90-DAY PRIME CD'S.

—

Y. 00

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS