Full text of U.S. Financial Data : Week Ending June 26, 1968

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

^

w
RESEARCH LIBRARY
neserve uanK
of St. Louis

u.s. nnonciRL

drtr
Week ending June 26,1968

DATA REVISED FOR MONEY STOCK

TIME DEPOSITS (Continued)

The Federal Reserve Board has revised the series
on money stock and its components. Monthly and weekly
data on money stock, currency, demand deposits, and time
deposits, going back to 1963, appear in the June Bulletin.
The revision alters the weekly data to a greater extent
than the relatively small changes in monthly data.
The
data in this release are the newly revised figures.

may reflect the attractiveness of yields on other fi­
nancial assets when compared to the yields on time de­
posits which are restricted from rising over specified
ceilings by Regulation Q. On the other hand, the decline
may partially be the result of seasonal factors associ­
ated with June tax payments.
DATA REVISED FOR EFFECT OF RESERVE REQUIREMENT CHANGES

Y STOCK (Page 5)
The money stock averaged $187 billion in the four
weeks ending June 19, up at an 8.3 per cent annual rate since
early March.
This rate of growth is relatively fast when
compared to the 6 per cent rate in the prior fifteen months,
or the 2.6 average annual rate between 1957 and 1967.
TIME DEPOSITS (Page 7)
Time deposits at commercial banks averaged $187.9
billion in the four weeks ending June 19.
The rate of growth
of time deposits has decelerated sharply over the last year.
Since March time deposits have grown at an annual rate of
3.4 per cent, whereas in the previous nine months they grew
at an 11 per cent rate. Large certificates of deposit out­
standing have declined sharply in the last three months,
^.f^^reas in the previous nine months they grew at a 12 per
cent rate.

The St. Louis Federal Reserve Bank in con­
junction with the Federal Reserve Board revised the
weekly adjustment of reserves and Federal Reserve credit
series for the effect of reserve requirement changes.
This newest revision only slightly alters data previously
reported in this release for total effective reserves,
reserves available for private demand deposits, and Fe­
deral Reserve credit since an earlier revision was made.
The data in this release are the newly revised figures.
MEMBER BANK RESERVES (Page 3)
Total member bank reserves have declined at a
1.8 per cent annual rate in the last three months.
By
comparison, in the previous nine months total reserves
grew at an 11 per cent rate, and between 1957 and 1967
they increased at an average annual rate of 3.3 per cent.

This deceleration in the growth of time deposits

BECAUSE OF THE HOLIDAY JULY 4, 1968
THE U.S. FINANCIAL DATA RELEASE WILL
BE PUBLISHED ONE DAY LATE.

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

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: June 28,1968

FEDERAL RESERVE CREDIT i
Averages of Daily Figures

Billion* of Dollars

Billions of Dollars

Seasonally adjusted by this bank. [^'

57

57
Annual rates of change Federal Reserve Credit
adjusted for reserve requirement changes
averages of four weeks ending June 26, 1968

Federal Reserve
Holdings
So. oi

SO. (oO
SO. tSj
SO. ¥7
SO. SO
0.f 7

+/0.7

+/0.9
+ 1*1
■hu-o

S3 n

F

1957-1967

SJ.9JL

Federal Reserve Credit

Si

Borrowings

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

1/ Federal Reserve Credit excludes float and a few minor
items. Data prior to Jan. 18, 1968 adjusted for the
estimated effect of reserve requirement changes.
Seasonal adjustment for Federal Reserve Holdings
computed by this bank using data ending December 1967
Borrowings from Federal Reserve not seasonally
adjusted. Current unadjusted data appear in the
Board's H.4.1. release.

Latest data preliminary
Latest data plotted week ending: June 26, 1968

6 20
Sept.

4ft

4 18
Oct.

1

1967

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

15 29
Nov.

13 27
Dec.

10 24
Jan.

7

21
Feb.

6

20
Mar.

1

15 29
May

12 26 10 24
June
July
A 1968

7 21
Aug.

4

18 2 16
Sept. Oct.

30 13 27 11 25
Nov.
Dec.

8 22
Jan.

5 19 5 19
Feb.
Mar.
196^

Prepared by Federal Reserve Bank of St. Louis

REWVES

All Member Bcmks in the Nation
Averages of Daily Figures

Billions of Dollars

TOTAL RESERVES
Annual rates of change, average of
four weeks ending June 26, 1968
from four weeks ending:
Mar. 27, 1968
—/-ff
Dec.
27, 1967
Sept. 27, 1967
June 28, 1967

Billions of Dollars

1/ Data prior to Jan. 18, 1968 adjusted for
estimated effect of reserve requirement
changes

TOTAL
EFFECTIVE
RESERVES

Seasonal adjustment computed hy this
hank using data ending December 1967.
Unadjusted data appear in the Board's
H.4.1. release.

28.0

as. 7 xJS.t, 7

27.5

P 7.S
ZS.

1957-1967

7V

as.S¥

27.0

=3X97 P

26.5
Total 1/

26.0

25-5

18.8
RESERVES

"

FOR PRIVATE
DEMAND DEPOSITS1
0t
ts

7 7- xg

if

n.3g
nsx.

-

Reserves Available for
Private Demand Deposits


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

1
1967

15 29 13 27
Nov.
Dec.

7

21
Feb.

-

P-3S
/7-J7
nAo
/7.t>o p _

RESERVES AVAILABIZ FOR
PRIVATE DEMAND I®POSITS
Annual rates of change, average
four weeks ending June 26, 1968
from four weeks ending:
27, 1968
Mar.
+ 7./
27, 1967
Dec.
P S.1
- Sept. 27, 1967
+ tT.f
June 28, 1967
+ S.3

Latest data preliminary
Latest data plotted week ending:
18
Oct.

IX
19
li

n

1/ Data prior to Jan. 18, 1968 adjusted for
estimated effect of reserve requirement j_
changes
Seasonal adjustment revised

it

^

It..97
n.xo

6

20
Mar.

1

” 1957­1967
june 26, 1968
15 29
May

-P /■ c
ULLL Mill

12 26 10 24
June
July

1968

7

21
Aug.

1 41 1 J_L
18 2
Sept.

16
Oct.

30 13 27 11 25
Nov.
Dec.

8

22

Jan.

5

19 5 19
Feb.
Mar.
1969

Prepared by Federal Reserve Bank of St. Louis

MONEY STOCK PLUS TIME DEPOSITS*
Averages of Daily Figures
Seasonally Adjusted

of Dollars

Billions of

mm

T

Annual rates of change, average of
four weeks ending June 19, 1968
from four weeks ending:
Mar.
20, 1968
Dec.
20, 1967
Sept. 20, 1967
-h t, .3
June
21, 1967
/- p f

1968
yfltu, iS 37}.$

'
396

1957-1967

■f k-A.

”33
3T*-S
31 37S-I
J 37XJ
if- 3?V-J
H iViS
-

396
39^+

-

392
390

388
-

386
384

382
380
378
376

^ j/y. x

374
372
370

368
366
364

362
360
-

358
356
354

current data appear in the Board s H.6 release.
Back «
data appear in the June 1968 Federal Reserve Bulletin
For t rend of money stock plus time deposits by months
see t his bank's monthly release
.1

352
350

6

-Latest data preliminary
Latest data plotted week ending: June 19, 1968

4


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

—1—
1 LL _L

i m 11 n itntiimt

18 1 15 29
Oct.
Nov.
1967

13 27
Dec.

10 24
Jan.

6

20 3 17
Mar.
Apr.

May

June

July

1968

Aug.

4
41
-

1 UU lllli1Lu
LLL41 i .Li Ll -L I1 |—U_L
22 5 19 5 19

Sept.

Oct.

Nov.

Dec.

Jan.

Feb.
IS

Prepared by Federal Reserve Bank of

Mar.

Louis

MON®tSTOCK*
Ave rages oTOa ily Fig ures
SeasonaiiyAd usted

Billions of Dollars

Billions of Dollars
205

205

WEEKLY DATA
1968
aw, is /gS. i

Annual rates of change average of
four weeks ending June 19, 1968
from four weeks ending:
tf.3
' Mar.
20, 1968
-h(pyf
20, 1967
Dec.
Sept. 20, 1967
June 21, 1967
7l*.V

11 /g?.i

6

,3. Iflp-X

f ifIp. 8 f

. 1957- 1967

5

13-week centered
moving average

Weekly

Latest data preliminary
Latest data plotted week ending:

* Current data appear in the Board s H.6 release.
Bac^:
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
i i i i i i i i i i i i ] i 11 i i i i i i i i

June 19, 1968

Mill I I I I I I i I 11 I I I I I 1 I
6 20
Sept.

4 18 1 15 29 13 27
Oct.
Nov.
Dec.
1967


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

10 24
Jan.

7 21
Feb.

6 20
Mar.

3 17
Apr.

1

15 29 12 26 10 24
May
June
July
1968

7

21
Aug.

4 18
Sept.

2

16 30
Oct.

13 27 11 25
Nov.
Dec.

5

19 5 19
Feb.
Mar.
1969

Prepared by Federal Reserve Bank of St. Louis

CERTIFICATES OF DEPOSIT H
Large Commercial Banks
Wednesday Figures

Billions of Dollars

25.0

Billions of

Dollars
25.0

..
1-

1 seasonally

rates or cnange
unaaiustea aaca.
trom
average ot tour weeks ending June 19,
tour weeks ending:
Mar. 20, 1968
— l f.f
Dec. 20, 1967
_
1967
Sept. 20,
(0. !
June 21. 1967

24.0

23.0

1-

1 Q £/.

24.0

23.0

i.z

r 11. 9

1 OA7

1 '
1

22.0

1

!

'

_4
22.0

21.0

21.0

20.0

20.0

_

_

k
V
h o:

19.0

19.0

_

18.0

Millions of Dollars
1968
3
/0
17

17.0

29
I

16.0

S

/ ?, 74!

15
19
5

H, rz i
19,*90
H s4z
19 It t

ll

! 1,9*2.

11

l%0lg P

Zl

J

JutJt

15.0

2.0, 201
Z0,H t
19,191
11, IS!
19, no!

18.0

17.0

16.0

15-0

14.0

14.0

1

■
Latest
data preliminary
Latest data plotted : June 19. 1968
1 I
6

~T
T~
18

20 4
1 15 29
Sept.
Oct.
Nov.
A
1967


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

1

Current and year ago data appear in the
Board's H.4.2. release.
1/ Negotiable time certificates of deposit
in denominations of $100,000 or more.

1
13 27
Dec.

ILL

10 24
Jan.

1 1 I 11. 1 I 1 I i I 1 I 11 M I M I I I I
7 21
Feb.

6 20
Mar.

3 17
Apr.

l

15 29
May

12 26 10 24
June
July
1968

7 21
Aug.

4 18
Sept.

16 30 13 27
Oct.
Nov.

11 25
Dec.

8 22
Jan.

5 19 5 19
Feb.
Mar.
196s

Prepared by Federal Reserve Bank of St.^ouis

13.0
~0

2
Apr.

SITS*
TIME
All Comm cia I Banks
Averages ofDaily Figures
Seasonally Ad u sted

Dollars

ions

2X8
216

Billions of Dollars

Annual rates of change, average of

214
1968

from four weeks ending:

212

+ 5.0

210
- June

21, 1967

208
1957-1967

206
204

202
200

198
196
*94
?92
190
188
186
184
182

180

178
176
174

172
170

168
166
164
162
160

* Current data appear in the Board's H.6 release. Back
data appear in the June 1968 Federal Reserve Bulletin.
For trend of time deposits by months see this bank's
monthly release entitled "Monetary Trends".
.

Latest data preliminary
Latest data plotted week ending:

158
6

20

4

18


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

1

15

29 13

27

10 24

7

21
Feb.

1967

6 20
Mar

3

17

1

15

29 12 26 10 24
July
June
1968

7 21
Aug

4 18

2

16

30 13

27 H

25

8

22

5

19

5

19
Mar.

1969

Prepared by Federal Reserve Bank of St. Louis

2
Apr.

BORROWINGS AND EXCESS RESERVES
All Member Banks in the Nation
Ave rag es of Daily Figures

Millions of Dollars

Millions of Dollars

2,000

2,°0° r II I I' 1
EXCESS
RESERVES

1,900

BORROWINGS

FREE
RESERVES

'BIWEEKLY DATA

1,700

313,

1+1

}SU
13 +

i'll
1+3.

1U,

A//

1,500
WEEKLY DATA
T!3Ut.1

.

1,300

7i +
7J7

1,200

4.7g

4.ty

1,100

|

SOI

BIWEEKLY SETTLEMENT PERIODS

' Borrowings

Excess Reserves

Net Free Reserves

ONE WEEK OILY
Latest data preliminary
-

1,000 ___ Latest data plotted:

-

1,100

13

27

11 25


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

8

22

6

20

3

17

31

14

26 13 27

10

24

6

22
May

5

19
June

3

17

31 1^

28 11

25

9

23

6

20

it 18

1

15 29

12

July

Prepared by federal Reserve Bank of

12

26

9

-

1,000

-

1,100

BUSINE^LOANS
Large Com^^-cial Banks
Billions of Dollars

73

Billions of Dollars

Wednesday Figures

rmr

73

Seasonally adjusted bv th is bank.

Annual rate* of change, average of
four week* ending June 19, 1968
from four weeks ending

71 -1

72

71

+ 9.^

1960-1967

70

70

69

69

(,?/ 7

7
7

s r\\

/

7

s

68

A
j
JX 7
r
1

"I r-

67

p

mi 110ns or noiiars
SEASONALLY
ADJUSTED

1968
6

<t P
/T

66

LJ.Vt 7

7 zr 7

4

1*7.

47 4/0

l 7. 40S

65

-7.

65

7

39/
Lf 03/

T '

&?/£{.
(efr/70 P

67

64

64

63

63

62

62
in

6l

Latest data preliminary
Latest data plotted:
Jui

6l
iLinr:

______
Ttm
4 18 1 15 29 13 27
Oct.


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

Nov.

1967

Dec.

Jan.

Feb.

Mar.

11,111111)11
Apr.

May

June

July
1968

Aug.

Sept.

Oct.

1 1 1
Nov.

1 1 II 1
Dec.

Jan.

1

1

_LL

Feb.

Mar.
1969

Prepared by Federal Reserve Bank of St. Louis

Apr.

10

YIELDS ON SELECTED SECURITIES
Averages of Daily Rates Ended Friday

Per Cent

3-MONTH
TREAS. 3-5
BILL YEAR
y-17
If
31

7

OTfefc

If
X\

S.(8
S.fS

S9S
(Of
S3!
S.gO
S. 7S
S.d

S-3t>

S.kS

*3.8

SL9
S.fiSI 0

Per Cent

LONG- CORPORATE
TERM
Aaa
S3?
S.SJi.
S-43
S3o
s-l7
S./8

(.-17
(,.38
(,.19
A-If
(.IS
( 3-9

S./f

fc 27

Corporate
Aaa Bonds

Long-Term
L
Government Bonds'

Discount Rate
Three-Month Treasury
Bill Market Yield .

Latest data plotted are averages of rates available for the week ending: June 28, 1968


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

20
June

It

18

1

15

29 13

27 10

24

7

July

Prepared by Federal Reserve Bank of

21

7

21

INTEREST RATES
Averages of Daily Rates Ended Friday

Per Cent

Per Cent

TTTTT7

PRIME
COMMERCIAL
PRIME
LARGE
PAPER
BANKERS' 90 DAY
4-6-MONTH ACCEPTANCES CD'S**
L/3
!, Jj

FEDERAL
FUNDS
<° *3
S.gg

1,20

£ OS

L-20

S.?S

t,.x8

S83

* 28

Prime Commercial Paper
4-to-6 Month

5-50

Prime Bankers
Acceptances

Discount Rate-

Federal Funds Rate

Latest data plotted are averages of rates available for the week ending: june 28

8

22

6

20

3

17

l

15

29

12 26

9

23

8

22

5

19

3

17

31

14 28

1968

12 26 9 23
July
Aug
1968

6

20

4

18

1

15

29

13 27

10 24

7

21

7

21

June

1967
*AVERAGES OF RATES AVAILABLE

**S0URCE: SALOMON BROTHERS AND HUTZLER
http://fraser.stlouisfed.org
SECONDARY MARKET RATE ON 90-DAY PRIME CD'S.
Federal Reserve Bank of St. Louis

1969

Prepared by Federal Reserve Bank of St. Louis