Full text of U.S. Financial Data : Week Ending: June 18, 1980

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

F/ZV/I /V£7/>a

L.

Week ending: June 18, 1980
[MMfi

LIBRARY

WM

Most large commercial banks lowered their prime

8 8 decline in
ratetheto prime
12 Percent during this past week. The
rate over the past two months has
tended to follow the declines in the interest rate on
short-term certificates of deposit (CDs), which are a major
source of additional loanable funds to banks. Banks'
decisions to lower their prime rates have also been affected
by the recent reductions in the interest rate on short-term
commercial paper, which is an alternative source of credit
to large corporations.
In response to the general decline in market
interest rates, the Federal Reserve has lowered the discount
rate to 11 percent. The discount rate remains, however,
about 200 basis points above the Federal funds rate—the
rate at which banks lend reserves to each other. With the
discount rate continuing to be substantially higher than the
Federal funds rate during the past three weeks, member
banks have reduced their borrowings from Federal Reserve
Banks to less than $500 million (page 11).
Short-term interest rates have fallen more
sharply than long-term rates over the past two months
(pages 6 and 7) and, consequently, they are currently lower
than longer term rates. This is a significant reversal of the
structure of interest rates that was in existence from
September 1978 through April 1980 when short-term rates
generally exceeded longer term rates.

This past week the Board of Governors
released a revision of money stock series and
related
data
that
incorporates
benchmark
adjustments based on the June and September
1979 Call Reports and other data sources. These
adjustments affect data back through October
1978. All money stock and related data in this
release have been revised.


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

Prepared by Federal Reserve Bank of St. Louis
Released: June 20, 1980

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
162

BILLIONS

58

— JUN.

160

157.4
158.4
158.5
159. 2
158.6
159. 4

158

154

152

1979
LATEST DATA PLOTTED WEEK ENDING: JUNE 18,

1980

THE ADJUSTED MONETARY BASE CONSISTS OF: ( I ) MEMBER BANK RESERVES AT THE FEDERAL RESERVE
BANKS. (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF
COMMERCIAL BANKS), AND (3) AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES.
THE
MAJOR SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT.
DATA ARE COMPUTED
BY THIS BANK.
A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM
THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
6/20/79

9/19/79 11/21/79 12/19/79

AVERAGE OF FOUR WEEKS ENDING:

1/16/80

2/20/80

3/19/80

7.3
5.8
5.5
6.2

5.5
5.2
6.2

3.7
5.5

4/16/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/21/79
12/19/79
1/16/80
2/20/80
3/19/80
4/16/80
5/21/80
6/18/80


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

9.9
9.5
9.8
9.2
9.2
8.5
8. 1
8.2

7.6
8.6
8.0
8. 1
7.4
7.0
7.2

9.3
8. 1
8.2
7. 1
6.7
7.0

8.6
8.6
7. 1
6.6
7.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ADJUSTED BANK RESERVES 1/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
52 ---------- ,-------------1--------

BILLIONS OF DOLLARS
--------------------------------- 52

billions

— JUN.

47.7
47.7
48.5
47.8
48.8
48.0

5

APR

MAY

JUN

JUL

AUG
1979

19

SEP

5

17 31

OCT

M

28

NOV

12

26

DEC

9

23

JAN

6

20

FEB

5

19

2

16 30

MAR
APR
1980

14 26

MAY

11

23

JUN

LATEST DATA PLOTTED WEEK ENDING: JUNE 11. 1980
1/ ADJUSTED MONETARY BASE LESS CURRENCY HELD BY THE NONBANK PUBLIC (MEMBER BAf* RESERVES AT
FEDERAL RESERVE BANKS ( + ) CURRENCY HELD BY COli.CRCIAL BANKS).

ADJUSTED BANK RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE,
6/13/79

9/12/79 11/14/79 12/12/79

AVERAGE OF FOUR WEEKS ENDING:
1/9/80

2/13/80

3/12/80

4/9/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/14/79
12/12/79
1/ 9/80
2/13/80
3/12/80
4/ 9/80
5/14/80
6/11/80

9. 1
10.5
10.6
8.0
9.3
8.6
7.2
7. 1


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

9.8
10.2
6.2
8.4
7.6
5.8
5.8

14.7
6. 1
9.4
8. 1
5.6
5.6

1.2
6.9
5.9
3.5
3.8

4.9
4.3
1.8
2.5

11.5
5.1
5.2

-1.2
0.8

0.0

°REPARED BY FEDERAL RESERVE BANK OF ST.

3

LOUIS

4

MONEY STOCK ( Ml A )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
385

LUQN?
369. I
367.3
368.2
367.2
369.6
369.4

2

16 30

13

27

11

25

8

22

5

19

3

17 31

LATEST DATA PLOTTED WEEK ENDING: JUNE II,

14 28 DEC
12 26
NOV

9

23

6 20

5

19

1980

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
MIA CONSISTS OF CURRENCY AND COIN PLUS COMMERCIAL BANK DEMANO DEPOSITS HELD BY THE NONBANK
PUBLIC EXCLUDING THOSE HELD BY FOREIGN BANKS AND OFFICIAL INSTITUTIONS.

MONEY STOCK ( Ml A )
COMPOUNDED ANNUAL RATES OF CHANGE,
6/13/79

9/12/79 11/14/79 12/12/79

AVERAGE OF FOUR WEEKS ENDING:
/9/80

2/13/80

3/12/80

0.3
-6.0
-2.8

-10.9
-5.3

4/9/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1 1/14/79
12/12/79
1/ 9/80
2/13/80
3/12/80
4/ 9/80
5/14/80
6/11/80

6.7
6.0
6.6
6.2
6.2
5. 1
2.7
3.2


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

3.2
4.9
4.6
4.8
3.4
0.5
1.3

6.4
5.2
5.4
3.3
-0.5
0.6

6.6
6.5
3.6
-1.0
0.4

4.6
1.5
-3.5
-1 . 4

-5.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK ( M1B )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

3 ILL IONS OF DOLLARS

BILLIONS OF DOLLARS
405

eiuipNs

JUN.

307.3
385.5
386.5
385.6
388.6
388.9

5 19

3 17 31

LATEST DATA PLOTTED WEEK ENDING: JUNE II.

14 28 12 26

Mil

9 23

6 20
FEB

5 19
MAR

2 16 30 14 28 11 23

1980

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
MIB CONSISTS OF MIA PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITARY INSTITUTIONS.

MONEY STOCK (MIB)
COMPOUNDED ANNUAL RATES OF CHANGE,
6/13/79

9/12/79 11/14/79 12/12/79

AVERAGE OF FOUR WEEKS ENDING:
1/9/80

2/13/80

3/12/80

4/9/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/14/79
12/12/79
1/ 9/80
2/13/80
3/12/80
4/ 9/80
5/14/80
6/11/80

7.9
7. 1
7.8
7.2
7.2
6.3
3.9
4.3


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

3.4
5.6
5.2
5.5
4.3
1.5
2.2

7.5
6. 1
6.4
4.5
0.7
1.7

7.8
7.6
5.0
0.4
1.6

5.3
2.7
-2.2
-0.3

2.0
-4.4
-1.5

-9.2
-4.0

-4.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
21 .0 rr

PERCENT
-31 21.0

20.0

20.0
19.0
18.0

16.0

ME BANK
LOAN RATE

15.0
I A. 0

14.0

90 DAY CD'S

13.0

12.0
COMMERCIAL PAPER
1 1 .0
CORPORATE Aaa BONDS
10.0

APR

MAY

JUN

JUl

AUG
1 979

SEP

5 19
OCT

2 16 SO 14 28 11 25 8 22
NOV
DEC
JAN
FEB

7 21
MAR
APR
1980

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JUNE 20.

1980
APR.

4
1 1
18
25
MAY
2
9
16
23
30
JUNE
6
13
20 ** ***
27

90 DAY
CD'S
18.07
17.65
16.62
14.79
12.89
10.26
9.70
9.43
8.43
8.92
8.34
8.20

PRIME
COMMERC1AL
PAPER 46I8K
17.37
17. 19
16.03
14. 19
12.31
9.92
9.32
9.06
8. 19
8.69
8.03
7.89

PRIME
BANKERS'
ACCEPTANCES
17.51
17.12
16.06
14.39
12.46
10.04
9.60
9.08
8.42
8.68
8.06
8.07

CORPORATE
Aaa BONDS
12.95
12.57
11.87
11.51
11.38
10.93
10.96
11.02
10.90
10.88
10.53
10.35

MAY

JUN

1980

CORPORATE
Baa BONDS

MUNICIPAL
BONDS XX

14.75
14.56
14.11
13.86
13.68
13.20
13.10
13.11
13. 10
12.92
12.83
12.65

9.44
9.07
7.89
8. 1 1
7.96
7.11
7.44
7.72
7.73
7.67
7.53
N. A.

* AVERAGES OF RATES AVAILABLE.
W* BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS. THURSDAY DATA.
*** DATA ARE 4-MONTH COMMERCIAL PAPER RATES.
N.A. - NOT AVAILABLE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

1

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY
20.0

PERCENT
20.0

19.0

19.0
18.0

17.0

17.0

16.0

16.0

FEDERAL FUNDS RATE

15.0
14.0

14.0
13.0

3-MONTH V
TREASURY BILL

12.0
I 1.0
10.0

DISCOUNT
RATE

10.0
5-YEAR
TREASURY SECURITIES

9.0
8.0
7.0
6.0

I

15 29

IS 27

10 24

0

7 21

1980
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JUNE 20,

1980
APR.

4
1 1
18
65
MAY
2
9
16
23
30
JUNE
6
13
20 *
27

FEDERAL
FUNDS Xft
19.39
19.04
18.35
17.56
15. 12
12.96
10.85
10.71
9.46
10.74
9.68
8.99

3-MONTH
TREASURY
BILL
14.78
14.30
13.57
12. 18
10.47
9. 14
8.53
8. 15
7.70
7.51
6.44
6.77

6-MONTH
TREASURY
BILL mm
14.80
14.23
13.55
i r.89
10.79
9.50
8.78
8.92
7.75
8. 17
6.94
6.66

1-YEAR
TREASURY
BILL
13.90
13. 1 1
11.97
10.80
9.99
9.00
8.72
8.34
8.03
7.91
7.23
7.30

1980

5-YEAR
TREASURY
SECUR1T1ES
13.29
12.57
11.67
11.08
10.63
9.94
9.94
9.89
9.79
9.58
9.08
8.91

LONG-TERM
TREASURY
SECUR1T1ES
12.20
11.61
10.95
10.74
10.51
9.94
10.20
10.22
10. 13
10.08
9.64
9.44

»W*AVERAGES
OF RATES AVAILABLE.
SEVEN-DAY AVERAGES FOR WEEK

ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE.

mm
NEW
RATE
RATES
ON ISSUE
LONG-TERM

TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST. LOUIS.
TREASURY BILL YIELDS ON DISCOUNT BASIS.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

MULTIPLIERS!/
CURRENCY OF MONEY STOCK MEASURES
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
MONEY MULTIPLIERS

RATIO

l l l l

Mill 1 U-LLLLLLLL

LATEST OATA PLOTTED WEEK ENOING-. JUNE II,
BILLIONS OF DOLLARS
114 ---------- 1------------- 1

1

COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF

-

JUNE 11. I960 FROM
THE FOUR WEEKS END I JG:

-

SE
N.!
JU p

9,
12.
13,
9,

W,
13,

BILLIONS OF DOLLARS
14

1

-

- APR.
MAR.
- FEB.
JAN.

I960

1980
1980
1980
1980

8.2
7.
7.
8.2

1979
1979

8.
8.

-

CURRENCY
-

-

-

-

1980

B ILL 10 NS

MA'i

-

1111
111
111 Mill
2 16 30 19 27 II 25 8 22
MAY
JUN
JUL
AUG
1979

111

i n i
in. in l-Lll
3 17 31 14 28 12 28 0 23
OCT
NOV
DEC
JAN

LATEST DATA PLOTTED WEEK ENDING: JUNE 11,

7
110.I
14
109.7
_
21
109.9
28
110.7
_
' jurJ.
4
110.4
11
110.6
_
1 II 1 1 1 1 1 1 1 II5
11!111
5 1 9 2 1 8 30 1 4 28 II 25
MAR
APR
MAY
JUN
1980

1980

1/ RATIO OF MONEY STOCK (MIA) OR (MIB) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

DEMAND DEPOSIT COMPONENT OF MONEY STOCK (MIA)
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

LLIONS OF DOLLARS

BILLIONS OF DOLLARS

BILLIONS
259.0
257.6
258.3
256.5
JUN.
258.8

11 1 1 1 1 1 1
2

10 30

13 27

JUN

I I

25

8

22

5

10

3

1-1 1 1 1 I 1

17 31

JUL

14 28

NOV

12

26

9 23

DEC

8

20

FEB

3

10

2

16

30

14 28

11

23

MAR

1979
LATEST DATA PLOTTED WEEK ENDING: JUNE 11.

I960

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.

DEMAND DEPOSIT COMPONENT OF MONEY STOCK ( Ml A )
COMPOUNDED ANNUAL RATES OF CHANGE
6/13/79

9/12/79 II/14/79 12/12/79

AVERAGE OF FOUR WEEKS ENDING:
1/9/80

2/13/80

3/12/80

-2.2
-10.9
-6.8

-17.3
-10.3

4/9/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/14/79
12/12/79
1/ 9/80
2/13/80
3/12/80
4/ 9/80
5/14/80
6/11/80

5.2
4.7
5.5
4.8
4.9
3.5
0.3
0.9


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

1.9
3.8
3. 1
3.5
1.7
-2.3
-1.3

6. 1
4.0
4.4
1 .6
-3.7
-2.2

4.9
5. 1
1.5
-4.7
-2.9

2.9
-1 . 1
-7.8
-5. 1

-10.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

SAVINGS PLUS SMALL TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

460

BiLL.lfl.NS

455

449.0
449.7

450.8

450

451.4
453.8

445
440
435
430
425
420
415
410
405

2 16 50 13 27 II 25
JUN
JUL

I I I I
8 22

5 10

3 17 31

LATEST DATA PLOTTED WEEK ENDING-. JUNE 11,

14 28 12 28
NOV
DEC

9 23

6 20

S 10

2 16 30 14 28 11 23

1980

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000.

SAVINGS PLUS SMALL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
6/13/79

9/12/79 11/14/79 12/12/79

AVERAGE OF FOUR WEEKS ENDING:
1/9/80

2/13/80

3/12/80

6.0
8.2
8.5
8.7

9.7
9.5
9.5

11.1
10.6

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/14/79
12/12/79
1/ 9/80
2/13/80
3/12/80
4/ 9/80
5/14/80
6/11/80

10.4
10.5
9.8
9.3
8.9
9.3
9.3
9.3


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

8.3
7.7
7.2
7. 1
7.9
8. 1
8.2

8.4
7.4
7. 1
8.3
8.5
8.6

5.7
5.8
7.6
8.0
8.2

PREPARED BY 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

4.5
1980

MILLIONS

1123

0.5

—
4

IS

APR

2

16 30

MAY

13 27

JUN

II

25

JUL

8

22

AUG
1979

5

19

SEP

3

17

31

OCT

LATEST DATA PLOTTED WEEK ENDING: JUNE 18.

14 26

NOV

12

DEC

26 9 23

JAN

8

20

FEB

5

19

2

16 30

14

28

11

25

MAR
19

1980

BUSINESS LOANS
(COMMERCIAL AND

INDUSTRIAL)

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
166

BILLIONS OF DOLLARS
166 ---- ------ T-------------1---------- 1---------- 1------------164
162
160
1 56
156
154

-

164

— OF CHANGE, AVERAGE OF
“ THE FOUR *EEKS ENDING
— JUNE II, I960 FROM
- THE FOUA WEEKS ENDING:
_ APR. 9,
_MAR. 12.
_ FEB. 13.

1980
1980
1980

-11.7
-8.0
-3.3

DEC. 12.
SEP. 12.
~ JUN. 13.

1979
1979
1979

7.0
5.7
10.4

~

160

*

~

156
-

-

-

-

148

148

_
-

-

1980

MILLIONS

_

-

136
-

134
=n i
4

142
140

7
14
21
28
4
JUN.
II

MAY

-/

138

0

152

-

_

142
140

154

150

150

1 44

158

-

152

146

162

-

18

APR

1 1 1.L
2

18 30

MAY

13

JUN

1111

in

1 1 1
27

II

25

JUL

6

22

AUG
1979

I 1 1
5

MIL

1 1 1

1 1 1

1 1 1J_

1 1 1

111

NOV

DEC

JAN

FEB

MAR
APR
1980

157,970
157,545
157,042
157,205
158,218
157,297

-

1 1 1 II 1 1 1 1 1 1

\

19

SEP

LATEST DATA PLOTTED WEEK ENDING: JUNE


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

PREPARED BY FEDERAL RESERVE BANK OF ST.

11

LOUIS

138
136
134

12
LARGE TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS

1979
LATEST DATA PLOTTED WEEK ENDING: JUNE II,

1980
1980

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF $100,000 OR MORE,


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

PREPARED BT FEDERAL RESERVE BANK OF ST. LOUIS