Full text of U.S. Financial Data : Week Ending: June 17, 1970

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

r4So *&
LiSRAR\j

u.s. FinnnciRL omn
Week ending: June 17r 1970

The money stock has risen at a 4.8 per cent
annual rate in the past six months and the demand deposit
component at a 4 per cent rate (pages 4 and 5). In the
past three months these aggregates have increased at
rates of 8.2 per cent and 7.6 per cent, respectively.
Toney declined about $.7 billion in the week ending
^Bhe 10. While such fluctuations cause the growth of
money to appear faster or slower from week to week, the
trend has been rapid since early February, indicating a
growth rate similar to the pace in early 1967.
Short-term market interest rates have been
lower during the recent monetary expansion than at the
turn of the year (pages 10 and 11). Yields on prime
four- to six-month commercial paper, averaged 8.25 per
cent in the three days ending June 17, down from 9 per
cent in late December and early January. The volume of
commercial paper outstanding averaged $38.96 billion in
May, continuing the upward path of the past year (page 8)
Yields on bankers' acceptances averaged 7.84 per cent


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

> -«'■
in the three days ending June 17, about a percentage
point lower than in early January. The three-month
Treasury bill rate averaged 6.71 per cent in the three
days ending June 17, compared with about 8 per cent in
early January. The Federal funds rate has averaged
7.89 per cent since March, compared with an average of
about 9 per cent from June 1969 to February of this
year.
Yields on long-term securities in recent
weeks have moved above early-January levels. Rising
inflationary expectations have probably strengthened
demands for new long-term funds. Yields on seasoned
highest-grade corporate bonds averaged 8.53 per cent in
the three days ending June 17, up from a level of about
8 per cent in the first four months of the year. Yields
on Aaa state and local bonds averaged 6.85 per cent in
the week ending June 11, up from about 6.50 per cent at
the beginning of the year.

Prepared by Federal Reserve Bank of St. Louis

Released: June 19, 1970

Bill

MONETARY BASE LL
FEDERAL RESERVE CREDIT \2
Averages of Daily Figures

3 of- Dollars

82

:

Billions o

Seasonally adjusted by this bank

age of
81

80

79

-- four weeks ending:
Monetary
Base
Mar.
Dec.
Sept.
June

18,
17,
17,
18,

1970
1969
1969
1969

1957-1969

TTT

-h3.7

F R.

!3
l-o
f-H-O
1-3?

5

9V-

V .o ne ta r

f

B<IS e

r/-7

78

77

—

76

75

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.

Federal Reserve Credit

74

65

mo

Monetary
Base
7f^7 f
7 8 ? vT<?

64

R.

Credit

66,

6< 14,1
(,*,<.13
<*<•,& 7f

(eC 3(.L
77f3?

0

y

trb f)7 C>

63

62

6 6, 9

Defined to include holdings of securities,
loans, float, and ’bther" assets, adjusted
for reserve requirement changes and changes in
requirements due to shifts in deposits among
Latesf data plotted week ending: June 17, 1970
L—J LJ i i i i—l ~ j L_i_i i i L_L_i i i i i m i classes of banks.
8 22 5 19
2 16 30 14 28 11 25 9 23 6 20 3 17 1 15 29 12 26 10 24 7 21
Jan.
Feb.
Apr.
May
June
July
Aug. Sept.
Oct.
Nov.
Dec.
Jan.
1969


http://fraser.stlouisfed.org
*0
Federal Reserve Bank of St. Louis

H, HV
6 4,vT/y

4

18
Feb.

1

15 29
Apr.
1970

Prepared by Federal Reserve Bank of St.Louis

13 27
May

10 24
June

8

22
July

T
RESERVES
All Member Banks in the Nation
Averages of Daily Figures
-------- Seasonally Adjusted--------

Billions of Dollars

Billions of Dollars

Annual rates of change, average of four weeks
ending June 17, 1970 from four weeks ending:
Mar. 18,
J Dec. 17,
_ Sept. 17,
— June 18,
—1

1970
1969
1969
1969

30.0

29.5

-h l.o

1959-1969
29.0

28.5

28.0

27.5

27.0

26.5
Series adjusted by the Board of Governors
to reflect changes in reserve requirements.
For comparability, back data have been re­
vised due to the change in Regulation D effec­
tive July 31, 1969 requiring member banks to
include all "bills payable checks" and so-called
"London checks" as deposits subject to reserve .
requirements.

Latest data plotted June 17, 1970
I I I I


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

TOTAL
RESERVES

3.VA

26.0

£

<57- 7

A'?. 3
J7. 7

57. 7
*7.7

25.5

Data exclude increase in required reserves of
about $400 million due to changes in Regulations
M and D effective Oct. 16, 1969.

25.0

Current data including required reserves
due to changes in Regulations M and D effective

24.5

1

15

29 13

27 10

June

Prepared by Federal Beserve Bank of St. Louis

24

0

DEMAND DEPOSIT COMPONENT OF MONEY STOCK

4

Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Annual rates of change, average of four weeks
ending June 10, 1970 from four weeks ending:
----- Mar. 11, 1970
Dec. 10, 1969
Sept. 10, 1969
----- June 11, 1969
1957-1969

Latest data plotted week ending:
June 10, 1970
Jill
I I I I I
8 22 5 19 5 19 2 16 30 14 28 11 25 9 23
J an.
June


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

6

20

3

17 1
Sept.

15

29

12 26

10 24
Dec.

7

21
Jan.

4

18

4

18

1

15

29

13 27

Prepared by Federal Reserve Bank of St. Louis

10 24
June

8

22
July

5

MONEY STOCK
LI lie

Averages of Daily Figures
Seasonally Adjusted

of Dollars

215
214
213

212
211
210
209

Billions of

ilia]
215

Annual rates of change, average of four weeks
ending June 10, 1970 from four weeks ending:

214

Mar.
Dec.
Sept.
June

212

11,
10,
]0,
11,

213

1970
1969
1969
1969

211
210
209

1957-1969

208

208

207

207

206

206

205

205

204

204

203

203

202

202

201

201

200

200

199

199

198

198

197

197

196

196

195

195

194

194

193

193

192

192

191

191

190

190

189

189

188

188

187

187

186

186

185

O'

Latest data plotted week ending:

q

?2

Jan.


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

19
r.

2

30
Apr.

185

June 10, 1970

—J—1—I—I—I—1—I—I__ I__ I__ !__ I__ I__ i__I__ ,__ I__ I__ L

14 28
May

1 1 2.3 9 2 3
June
July
1969

6

20

3

17

Sept.

15

29 12

26

10 24

7 21 4 18
Jan. Feb.

4

18
Mar.

1

15 29
Apr.
1970

13 27
May

Prepared by Federal Reserve Bank of St. Louis

10 24
June

8 22
July

0

TIME DEPOSITS
Averages of Daily Figures
Seasonally Adjusted

234
232
230

____ Annual rates of change, average of four weeks
------ ending June 10, 1970 from four weeks ending:
Mar.
--- Dec.
— Sept.
;_I June

it,
10,
10,
11,

228
226

1970 + IS-,S,
1969 -+ L-lt
1969 + *•/. /
1969 -

224
222

220

1957-1969

218
216
214

212
210
208
206
204
202
200
198
196
194
192
190
188
186
184
182
180
178
Current data appear in the Board's H.6 release.

176
174

Latest data plotted week ending:
8

22


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

19
ir.

2

June 10, 1970

16 30 14 28
Apr.
May

11 25 9 23
June
July
‘ 1969'

6 20
Aug.

3

17
Sept.

1

15

29 12

26

10 24

7

21

4

18

4

18

1

15

29

13

Prepared by Federal Reserve Bank of St. Louis

27 10 24
June

8

22

0

•

MEMBER

bank deposits subject to reserve

,

REQUIREFENTS

1/

(CREDIT PROXY)

averages of daily figures seasonally adjusted

Billie

of Dollars

326

L4 11,

326

324

Annual rates of change, average of
four weeks ending June 10, 1970 from
four weeks ending:

322
320
318

324
322
320

Credit
Credit
Proxy-

316
Mar.
Dec.

314
312

19 70 f ^.7
1969 + S-7

310

1969

316

* V-l-

314

a- V

1969
June 11,

318

Adjusted

-1 • £

312
CREDIT
PROXY
ADJUSTED

308
306

310

y

308
306

304
302

304

300

302

298

300

296

298

294

296

292

294

290

292
CREDIT
PROXY

288

290

286
284
282
280
278

288

274

Commercial paper issued by a bank holding
company or a bank subsidiary.
Funds obtained outside the U.S. other than
liabilities to their foreign branches#
Loans or participation sold under repurchase
to other than banks and the banks1 own affiliate
or subsidiary

268

282
280

Credit proxy plus nondeposit sources of funds.
Eurodnn^SK°3it ?ourcaa of funds include

270

284

2/

276

272

286

Total Lime and savings deposits, demand deposits
o individuals, partnerships and corporations,
net interbank deposits and U.S. Government demand
deposits.

278

Eurodollar borrowings of U. S. banks.

0"
8

22
Jan.

5

19
Feb.


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

2

16 30
Apr.

14 28 11 25 9 23
May
June
July
1969

276

.OTom u

6/j

274

<57

272

3

Current data appear in the Board's H. 9 release.

t&

’70

Latest data plotted week ending: June iO
6 20
Aug.

3

17 1
Sept.

15 29
Oct.

12 26
Nov.

10 24
Dec.

7 21
Jan.

>68

0
4 18
Feb.

4 13
Mar.

29 13 27 . 10 2.4
May
June
1970

Prepared by Federal Reserve Bank of St. Louis

8 22
July

sjeiioq

stucti

'3s 30

IX6T

5[UBg

sAissag qexapaj; Xq paxedao,!

0X61

6961

8961

X96I

9961


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
S96I

0X61 Xbr tpaqqoqd Eqap qsaqeq

S

01

qxsodaa 30 saqeoxjqqaao-

SI

0Z

SZ

aadej pETaxamrao;)

0£

SE

06

S6

OS

auunjo^ 6ujpuo{sjno

30 suoiqqTg

sjbxxoq

jo suoixXTS

II d3dVd 1VIDd3WWOD QNV n llSOdJQ JO S31VDIdlia3D

8

9
NEW ISSUE RATE ON CERTIFICATES OF DEPOSIT Q_
DEALERS' OFFERING RATE ON COMMERCIAL PAPER I

Commercial Paper

Certificates/of Deposit

—

\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.
Latest data plotted: May 1970


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

Prepared by Federal Reserve Bank of St. Louis

YIELDS ON SELECTED SECURITIES
Averages of Daily Rates Ended Friday

PER GENT
9.50

CENT
.50

9.00

.00
Prime Commercial
Loan Rate
.50
Corporate
Aaa Bonds ~
.00

3-5 Year
-Govt. Sec

.50

7.00

.00

Three-Month
Treasury Bill
Market Yield'

6.50

. 5o'

Discount Rate

6.00

.00

.50
3-Month
Treasury
Bill

3-5 Year

Long-Term

Corporate
Aaa

5.00

.00

6.j<j
6-83

4.50

(e. & O

.50

{,.'1!*
un

.00

6 7*
7S
7, co
4.00

3.50

I I II I
Latest data plotted are averages of rates available for the week ending: June 19
10 24
Jan.

7
Feb.

21 4 18
Mar. Apr.


* AVERAGES OF RATES AVAILABLE
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

7.

16

30 13 27
June

11 25

8

22

5

19

3

17

.50

1970

31 14 28
Nov.

12 26
Dec.

9

23
J an.

6

20
b.

6

20
Mar.

3

17 1
Apr.
1970

15 29
May

Prepared by Federal Reserve Bank of St. Louis

12

26
June

10 24
July

11
SELECTED SHORT-TERM INTEREST RATES
Averages of Daily Rates Ended Friday

Per Cent
11.00

Per Cent
11.00

10.50

10.50

10.00

10.00

9.50

9.50
Federal Funds Rate

9.00

9.00
Commercial Paper
4-to-6 Month
.

8.50

8.50

8.00

8.00
Prfjne
Barters

1970
_4t6.

90 Day

Month

Federal
Funds

7.50

)$

.22.
Jli-w

7.00

£

7.00

. Bankers'
Acceptances

<A

19*
6.50

6.50

6.00

6.00
Discount Rate
5.50

5.00

Latest data plotted are averages of rates available for the week ending: June 19, 1970
10 24
Jan.

7

21

7

21

4

■ > 1 I. 1 I I
16 30
18 2
May

i i i i i i » i ' i i ■ i i ' i i i i
13 27 11 25 8
22 5 19 3 17
June
July
Aug.
Sept. Oct.
.
1969

I l I .1 ..J—L
31 14 28 12 26 9
23 6
20
Nov. Dec.
Jan.
Feb.

0

6

20
Mar.

3 17
Apr.
1970

1

15 29
May

*AVERAGES OF RATES AVAILABLE; FEDERAL FUNDS LAST FIVE DAYS 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 Bank of St. Louis

12 26
June

10 24
July

BORROWINGS AND EXCESS RESERVES
All MemberBanks in the Nation

Millions of Dollars
3,200

EXCESS

3,000

•

FREE
RESERVES

Millions of Dollars

—r-r-r Averages of Daily Figures

-9/S'
-«7/

2,800

3,000

2,600
2,400
2,200
2,000
1,800
Borrowings

1,600
1,400

1,400

1,200
1,000

.Excess Reserves

1,000

-

1,200

-

1,200
Net Free Reserves
1,400

-1,600

1,600

-1,800

2,200

-

-2,400
2,600
-2,800

Latest data plotted week ending: June 17, 1970

-3,000
J an.


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

Mar.

June

Sept.

4
Nov.

Jan.

18

4

18
Mar.

1

15 29
Apr.
1970

13 27 10 24
May
June

Prepared by Federal Reserve Bank of St. Louis

8 '22
July