Full text of U.S. Financial Data : Week Ending: June 3, 1970

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

u.s. Week
fifisncisu
ending: June 3r 1970
i

L.IBRAR\J
Growth of the money stock has been rapid since
February in contrast with essentially no growth in the
last half of 1969 (page 5). During the past three months
the money stock has risen at a 9.8 per cent annual rate.
Recent developments in money growth have been quite sim­
ilar to the 1966-67 experience. From February to May 1967
money grew at a rapid 6.2 per cent rate, compared with
no growth in the last nine months of 1966.
Private demand deposits, the major component of
the money stock, have risen at a 9.4 per cent rate in the
past three months (page 4). By comparison, demand deposits
contracted slightly in the last half of 1969 and, from 1957
to 1969, had a trend growth of 2.9 per cent.
Federal Reserve credit has increased at a 10 per
cent rate in the last three months and at a 3 per cent rate
in the last six months, while the monetary base has in­
creased at annual rates of 8.8 per cent and 5.7 per cent
in the same periods (page 2).


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

Short-term interest rates, in part reflect­
ing the pronounced monetary expansion, have been lower
since March than at the beginning of the year (pages 10
and 11). The three-month Treasury bill rate averaged
6.83 per cent in the three days ending June 3, up from
early April but down a percentage point from January.
Yields on prime four- to six-month commercial paper
averaged 8.13 per cent in the three days ending June 3,
compared with about 9 per cent in late December and
early January.
Yields on long-term securities, reflecting
large demands for such funds, have risen to well above
their January levels. Demands for such credit may have
been bolstered by an upward revision of inflationary
expectations, since prices have continued to rise at a
faster rate than many had forecast. Yields on seasoned
highest-grade corporate bonds, after changing little in
the first four months of the year, have risen from 7.83
per cent in late April to 8.29 per cent in the first
half of this week.

Prepared by Federal Reserve Bank of St. Louis
Released: June 5, 1970

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

Bill
82

Billions o

Seasonally adjusted by this bank*
Annual rates of change, average of
-four weeks ending June 3, 1970 from
'four weeks ending:

81

Monetary
Base

80

Mar. 4,

j97'

Dec. 3, 1969
Sept. 3, 1969
June 4, 1969

►
79

+

i-S J
+Lj-C)
+ 3-Si

81

Credit
80

■+-I0.0
+ 3-0
Monetar y Base

79

1967-1969

78

78

77

77

76

75

68

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.

67

Federal Reserve Credit

74

66

65

Monetary
Base

R. Credit’

64

65

64

63

63

Defined to include holdings of securities,
—I------__
loans, float, and 'bther" assets, adjusted
for reserve requirement changes and changes in
requirements due to shifts in deposits among
---------|- classes of banks.
~

62

0
Jan.

Feb.


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

Mar.

Apr.

Mr

11 25
June

9

23
July

1969

6

20
Aug.

3
17
Sept,

1

15 29
Oct.

12

26 10

Nov.

24

Dec.

7

21
J an.

4

18
Feb.

62
4 18
Mar.

1

15 29
Apr.
1970

13 27
May

10 24
June

8

22
July

0

.
RESERVES
All Member Banks in the Nation
Averages of Daily Figures
Seasonally Ad usted-------

Billions of Dollars

Billions of Dollars

__ Annual rates of change, average of four weel
-- ending June 3, 1970 from four weeks ending:
Mar.
Dec.
Sept.
June

4,
3,
3,
4,

1970
1969
1969
1969

30.0

29.5
■f I • 0

29.0

28.5

TOTAL
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.

TOTAL
_! RESERVES
3.7./

25.5

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

I
8

I 1 I I I I I
22
5
19
5


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

19

2

ill!
1 ■ 30 19

25.0

Current data including required reserves
due to changes in Regulations M and D effective
October 16, 1969 appear in the Board's H. 9 release.

Latest data plotted June 3, 1970

26.0

.2.7. -JL

24.5

0
28

11 25
June

9

23
July
1969

6 20

3 17
Sept.

1

15

29 12

26

10 24

7

21

4

18

4

18

1

15

29 13

27 10

24
June

1970

Prepared by Federal Reserve Bank of St. Louis

8

22
July

4

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
Silli

of Dollars

171

Averages ofDaily Figures
Seasonally Adjusted

Billions of Dolla
171

170
169

170

----- Annual rates of change, average of four weeks
----- ending May 27, 1970 from four weeks ending:

1.69

168
168

Feb. 25, 1970
167
166

167

Aug. 27, 1969
“May 28, 1969

166

165
164

165

1957-1969

164
163
163
162
162
161
161
160
160
159
159
158
158
157
157
156
156
155
155
154
154
153
153
152
152
151
151
150
150
149
149
148
148
147
147
146
146
145
145
144
144
143
_ Current data appear in the Board's H.6 release.

143

142
142
141

Latest data plotted week ending: May 27, 1970

0 '


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

141
I, I I I
20 3

17

1

15

29

12 26

10 24

7

21

4

18

4 18
Mar.

1

15 29
13 27
Apr.
May

Prepared by Federal Reserve Bank of St. Louis

10 24
June

8 22
July

0

MONEY STOCK
Averages of Daily Figures
Seasonally Adjusted

ill!
215

5
.> 11 a. s
215
214

214

- Annual rates of change, average of four weeks
ending May 27, 1970 from four weeks ending:

213

213

212

212

Feb. 25.
Nov. 2
Aug. 2

211
210

211
210

209

209

2Gb

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

139

188

188

187

187
Current data appear in the Board's H.6 release

186

186

185

185

- Latest data plotted week ending: May 27, 1970
0

J

I

I

o ■»?
Jan

I

I

5

1

I

19
vr'

L_J

5

I

1_1

10
Mar.

1

?

I

L-l I

16
Apr.

30

I

1

l_J

14 2
May

9

23

15

29 12

24

18
7.

4 18
Mar.


http://fraser.stlouisfed.org
i ■ i i i i i i i i i i i i i i i i il i M i 1 i i M I i i I I I j i I I I I L I I 1 I I I 1 1 I I I I L1 i 111 I LI
Federal Reserve Bank of St.1.1
Louis

1

15 29
Apr.

____

13 27
May

10 24
June

8 22
Julv

0

TIME DEPOSITS
A11 Com m e TC id I Ba n k S
Averages ofDaily Figures
Seasonally Adjusted

of Dollars

232

6
Billions o

-Annual rates of change, average of four weeks,
- ending May 2 7 1970 from four weeks ending:

230
228

Feb.
Nov.
Aug.
May

226
224

25,
26,
27,
28,

1970
1969
1969
1969

226

- /.

224

I

’22

222

1957-1969

220

220

218

218

216

216

214

214

212

212

210

210

208

208

206

206

204

204

202

202

200

200

198

198

.96

196

194

194

192

192

190

190

188

188

186

186

184

184

182

182

180

180

178

178

Current data appear in the Board's H.6 release
176

176

174

174

. Latest data plotted week ending: May 27, 1970
0

1

3

1

1

22
Jan.

1

1

5

1

i

19
Feb.


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

1—1—1

5

1

19
Mar.

1

1

2

11

1

1

i

1

i

1

16
30 14 28
Apr.
May

1

1

1

1

1

1

1

1

11
25 9 23
June
July
' 1969-

1

1

1

1

6 20
Aug.

1

1

3

iT

17
Sept.

15 29 12 26
Oct.
Nov.

10 24
Dec,

7

21
Jan.

4

18
Feb.

4 18
Mar.

1

15 29
Apr.
1970

13 27 10 24
May
June

8 22
July

0

i 11 ii

MONEY STOCK PLUS TIME DEPOSITS
Averages of Daily Figures
Seasonally Adjusted

of Dollars

432
430
428
42ft
424
422

Billions of Dollars
432
430

Annual rates of change, average of four w eeks
ending May 27, 1970 from four weeks ending:
Feb. 25,

428
426

1970

Nov. 26, 1969
Aug. 27, 1969

424
422

420

420

418

418

416

416

414

414

412

412

410

410

408

408

406

406

404

404

402

402

400

400

398

398

396

396

394

394

392

392

390

390

3S8

388

386

386

384

384

382

382

380

380

378

378

376

376

Current data appear in the Board's H.6 release

374
372
0

r-t—r-r-rr-t—t-1

r-r t

374

i i rrr

Latest Data Plotted Week Ending: May 27,

3?2

1970

I I I I I I I 1 I I I M I I I 1 II I 1 : ' I I I I
22
Jan.


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

5

19
Fe^.

5

19
Mar.

2

16 30
Apr.

14 28 11
May

?r.

.me

9

.July

3
Aug.

17 • 1
Sept.

15 29 12
2ft
Oct.
Nov.

10 24

Dec.

7

21
Jan.

4 18
Feb.

4 18
Mar.

1969

15

29 13

Apr.
1970

Pl-rp-H-af J-.v T>(fpr*l TV'ier ■' B "1 of Si
i i

l i

i

i

i

l

i

I I I

ii I I I I

i I I I i I

1 I

I i I

II

27 10
May

Tn»f«

l_i________ ,

24

June

«

22
July

CERTIFICATES OF DEPOSIT Q_
• Billions of Dollars


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

8

Large Commercial Bcrtks
Wednesday Figures

Billions of Dollars

Annual rates of change, data
not seasonally adjusted, average
of four weeks ending May 27, 1970
from four weeks ending:
Feb.
Nov.
Aug.
May

25,
26,
27,
28.

1970
1969
1969
1969

Millions of Dollars

TC\i.nf]~nooJ

II ; JU* f
i%\
■
hoc I :
8 !
[S

n,3si
v. fX)
lid-3‘2
Jl.+fJ
/<2,7 7H

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

I I

I I

I

l

l i

i

i

i

i i

i

i

i i

i

|

| |

|

|

21
May

June

July
1969 '

Aug.

4

18

4

18

1

Sept.

15

29

13

■ Apr.

Prepared by Federal Reserve Bank of St. Louis
i

27 10 24
June

8

22

July

t
BUSINESS LOANS
Large Commercial Banks
Wednesday Figures

Billions of Dollars

Billions of Dollars

Seasonally adjusted by this bank
88

Annual rates of change, average of four weeks
ending May 27, 1970 from four weeks ending:
Feb.
Nov.
Aug.
May

86

25,
26,
27,
28,

1970
1969
1969
1969

SEASONAL ADJUSTMENT REVISED

-.2 A
I

84

1960-1969

82

80

77-55
78

76

OF DOLLARS
SEASONALLY
ADJUSTED
UNADJUSTED
MILLIONS

74

mo

,

/

7T,m
«53

72

170 7%
7^5727

7fM

7

77<?vy

7732(0

70

7932>c?-

77MO/
9013
7
7 vr

7Z?33

717 o*

7 »,?7T
7JJAO
11,39-S

68

66
Latest data plotted:

8

22
Jan.

5


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

19
Feb.

5

19
2
Mar.

May 27,

16 30
Apr.

14

1970

28 11
25 9 23
May
June
July
1969

3

17
1
Sept.

15 29 . 12 26
Oct.
Nov.

10

24
Dec.

7

21
Jan.

4 18
Feb.

4

18
Mar.

13 27 10 24
15 29
Apr.
May
June
1970

8

22
July

10

YIELDS ON SELECTED SECURITIES
Averages of Daily Rates Ended Friday

PER CENT

ffiR CENT

9.50

9.00

Prime Commercial
Loan Rate

Corporate
“ Aaa Bonds

3-5 Year
Covt. Sec.

7.00

Three-Month
Treasury Bill
Market Yield «■

6.50

Discount Rate

6.00

6.00

3-Month
Treasury
Bill

^•4

Long-Term

Corporate

8

6-83
(,.80
6?T
i.7S

7. oo
(p-t3

4.00

I I I

I

I I

I I

3.50

Latest data plotted are averages of rates available for the week ending: June 5, 19*10
10 24
Jan.

21

7

2}

4

18

7.

16

30 13 27
June

11 25

R

22

5

19
Sept.

3

17

31 14

?S

17 26

Dec.

9

23

6

20

6

70

3

1

15 29

1?

26
June


* ,n'rpp»rTs nr PATH *v*.ttmy
TVepnr t 1 F lei 1 r -wr’ ■ R -n|- nf Si T 1i
http://fraser.stlouisfed.org
Federal Reserve Bank
Louis:_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ i i i i i i I i i i i I i i i i i i I I I I I I I i I I I I I I I I i i I i i m I , I I I
i of St.____

11

*..

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

Per Cent
11.00

11.00

10.50

10.50

10.00

10.00

9.50

Federal Funds Rate

9.00

_ Commercial Paper
___4 - to - 6 Month
8.50

1970

Prime
ierclal‘
Paper

Prime
Bankers
Acceptances

Federal
Funds

90 Day

?.oo

7- 20
7.9S

7.00

.

7.00

Bankers

Acceptances

Discount Rate

Latest data plotted are averages of rates available for the week ending: June 5, 1970
10

24

7

21

7

21
Mar.

4

J—I
18

1 I 1 I ' I I I I ■ I I 1 I
13 27 11 25 8
22 5
19 3
17
June
July
Aug.
Sept.
Oct.
.. 1969

t I I 1 I 1__I__L
2

16 30
May

1 1 I I I I

31

14 28
Nov.

III

12 '26
Dec.

9
23
Jan.

6
20
Feb.

6

20
Mar.

3
17
Apr.

1

15
May

‘AVERAGES OF RATES AVAILABLE; FEDERAL FUNDS LAST FIVE DAYS AVAILABLE
** SOURCE:

SALOMON BROTHERS AND HUTZLER


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

•

Prepared by Federal Reserve Bank of St. Louis

29

12 26
June

10 24
Julv

BORROWINGS AND EXCESS RESERVES
All Member Banks in the Nation

Millions of Dollars
3,200

■

EXCESS
RESERVES

3,000

<5
3,1
£?
(p
!2

2,800
2,600

K>2
)S«

-9/S
-*7/

//a

-

3,000

2,600

23
rji-

2,400

3

2,200

FREE
RESERVES

Millions of Dollars

Averages of Daily Figures

ns.

2,200

1,800
Borrowings

1,600
1,400

1,200
1,000

.Excess Reserves

1,000
1,200
Net Free Reserves
-1,400
-1,600

-1,600

-1,800

1,800

2,000
2,200

-

2,400

2,400

-2,600

■2,600

-2,800

Latest data plotted week ending: June 3, 1910

3,000

-3,000
22

5

J an.


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

19

5

19
Mar.

2

16

30 14

28 11
25 9 23
June
.
1969

6 20

3

17

1

15

29 12

26 10

24

7

21

4

18

4 18
Mar.

1

15 29

7 10 24
June

8 22
July