Full text of U.S. Financial Data : Week Ending: June 6, 1979

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

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RESEARCH
LIBRARY
'

Federal Reserve Bank
of St.

26

e„djl. Jll( 6i

|979

me

On May 30, 1979, Federal regulators of depository
institutions announced several changes affecting maximum interest
rates payable on time and savings deposits. These changes become
effective July 1, 1979. Ceiling rates on savings deposits will
be raised 25 basis points, to 5.25 percent at commercial banks
and 5.50 percent at thrift institutions. Depository institutions
will also be permitted to offer a new category of non-negotiable
time deposits with initial maturities of 4 years or longer, which
will have a ceiling interest rate tied to the average 4-year
yield on Treasury securities. The ceiling rate on these deposits
at thrift institutions will be set each month for new deposits
received during that month at one percentage point below the
4-year yield on Treasury securities, with the ceiling rate at
commercial banks one-quarter of a percentage point lower than the
ceiling
rate for thrifts.
The ceiling rate of
interest
established at the time of issue will not change during the
period the deposit is outstanding. The yield on 4-year Treasury
securities to which the monthly ceilings are tied will be
announced three business days before the beginning of each month,
and will be based upon average daily yields during the previous
five business days as determined by the Treasury.
Minimum denominations will no longer be required on time
deposits, except for 6-month money market certificates which will
continue to have a minimum denomination of $10,000. However,
depository institutions may set minimum denominations for any
category of time deposits if they so desire.
In a related
ruling, depository institutions may accept deposits that have
been
pooled
by depositors to reach minimum
denomination
requirements, but the institutions may not solicit or promote
pooled deposits in any way.
Regulators have also changed penalties for withdrawal of
time deposits before maturity. The penalty for early withdrawal
of time deposits is currently a reduction of interest on funds
withdrawn to the passbook savings rate, plus loss of three months
interest at that rate. The minimum penalty for early withdrawal
of time deposits issued after July 1 is loss of three months
interest on time deposits with initial maturities of one year or
less (at the rate being paid on the deposit), and loss of six
months interest on time deposits with initial maturities greater
than one year. The new penalties are minimum required penalties;
depository institutions are free to
specify
more
severe
penalties, if they are disclosed to depositors in deposit
contracts.


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

Prepared by Federal Reserve Bank of St. Louis
Released: June 8, 1979

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
>52 ----- ,------- 1—

BILLIONS OF DOLLARS
--- ------- ------ 152

BILLIONS
MAY
45.5

JUN.

5 18
APR

145. 1
145.7
1 46.3

I I I I
3 17 31 14 ZB 12 26 8 23
MAY
JUN
JUL
AUG
1978

6 20
SEP

4 16
OCT

LATEST DATA PLOTTED WEEK ENDING: JUNE 6,

1 13 28 13 27 10 24
NOV
DEC
JAN

7 21
FEB

4 16
MAR
APR
1979

2 16 30 13 27

1979

THE ADJUSTED MONETARY BASE CONSISTS OF: ( 1 ) 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, AVERAGE OF FOUR WEEKS ENDING:
6/7/78

9/6/78

11/8/78

12/6/78

6.6
6.7
5.7
5.0
6.3
5.6

7.6
6.1
5.1
6.6
5.7

1/3/79

2/7/79

3/7/79

4/4/79

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
11/
12/
1/
2/
3/
4/
5/
6/

S/7B
6/78
3/79
7/79
7/79
4/79
9/79
6/79

10.6
9.7
9.5
9. 1
8.5
7.8
8.3

7.7


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

9.9
9.6
8.9
8.0
7. 1
7.8
7. 1

5.0
4.0
6.2
5.2

2.3
6.0
4.8

7.5
5.4

7.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MULTIPLIER 1/
ADJUSTED FEDERAL RESERVE CREDIT*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

RATIO

MULTIPLIER

APR.

25

iJ-I-l.l I I
LATEST DATA PLOTTED WEEK ENDING: MAY 30,

126
124

BILLIONS OF DOLLARS
130

COMPOUNDED ANNUAL Rj*TES
-- OF CHANGE, AVERAGE
THE FOUR WEEKS END II
- JUNE 6, 1979 FROM
__ THE FOUR WEEKS END If JG.
-

APR.
MAR.
-- FEB.
_
JAN.
DEC.

4.
7,
7,
3,
6,

1979
1979
1979
1979
1978

5.4.2 !
4.2
5.6
6.

7;

1978

9.

JLLLl.ll 1 1

1979

BILLIONS OF DOLLARS
130 ----- 1------- 1----- 1----128

2.522
2.500
2.507
2.507
2! 51 3
2.499

-

ADv USTED FEDER*0. RES ERVE CF EDIT
"s

r\

-

-

122
_

JU N.

~

-

-

V

-

-

116
Laza

MAY

114
-

112

JUN .
’i 11

0

2
9
P
30

1111

111

111

1 1 II

111

111

1111

111

MAY

JUN

JUL

AUG
1B78

SEP

OCT

NOV

DEC

LATEST DATA PLOTTED WEEK ENDING: JUNE 6,

1111
10 24
JAN

_LLL
21
FEB

BILLIONS
126.8
126.0

lit:}
127.0
6 126.2

~
—
__

T
IS
MAR
APR
1979

2
30 19 2
MAY
JUN

1979

2/ FEDERAL RESERVE CREDIT CONSISTS OF FEDERAL RESERVE HOLDINGS OF SECURITIES. LOANS FLOAT
AND OTHER ASSETS. ADJUSTED FEDERAL RESERVE CREDIT IS COMPUTED BY SUBTRACtING TREASURY
DEPOSITS AT FEDERAL RESERVE BANKS FROM THIS SERIES. AND ADJUSTING THE SERIES FOR RE­
SERVE REQUIREMENT RATIO CHANGES.
DATA ARE C0MPUTE6 BY THIS BANkT


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

114

112

j_llI11111111111 m!

1/ RATIO OF MONEY STOCK (Ml ) / ADJUSTED MONETARY BASE

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

1 16

0

4

MONEY STOCK PLUS NET TIME DEPOSITS (M2)
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
905
900

8 ILLIQNS
APR.

892.6
891.8

895

892.9
894.5
895.4

890
885
880
875
870
865
860
855
850
845
840
835
830
825
-E| 820
1111

I I I I

0

1979

1978
LATEST DATA PLOTTED WEEK ENDING: MAY 30, 1979
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

MONEY STOCK PLUS NE" TIME DEPOSITS ( M2 )
COMPOUNDED ANNUAL RATES OF CHANGE,
5/31/78

8/30/78

9.8
9.0
8. 1
6.7
6.4
6.2
7.0
6.8

8.2
6.8
5.0
4.8
4.7
5.9
5.8

AVERAGE OF FOUR WEEKS ENDING:

11/1/78 11/29/78 12/27/78

1/31/79

2/28/79

3/28/79

3.9
7.6
7.0

9. 4
8.0

9.8

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/ 1/78
11/29/78
12/27/78
1/31/79
2/28/79
3/28/79
5/ 2/79
5/30/79


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

3.6
1.8
2.2
2.6
4.6
4.7

0.5
1.4
2.0
4.6
4.7

1.0
1.9
5.1
5.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

-

iaza

I_ APR.
-MAY
~
-

5 19
APR

25
2
9
16
23
30

BILLIONS OF DOLLARS
375

BILLIONS
366.2
364.2
364.8
364.3
364.6
364.1

3 17 31 M 28 12 26 6 23
MAY
JUN
JUL
AUG
1978

6 20
SEP

4 16
OCT

1

I I I I
13 29 1 3 27 1 0 2 4
NOV

7 21

4 16

2 16 30 13 27

1979

LATEST DATA PLOTTED WEEK ENDING: MAY 30, 1979
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
THE MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AND COIN HELD BY THE NONBANK PUBLIC.

MONEY STOCK (Ml
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING.
5/31/78
8/30/78 11/1/78 11/29/78 12/27/78 1/31/79 2/28/79 3/28/79
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/ 1/78
11/29/78
12/27/78
1/31/79
2/28/79
3/28/79
5/ 2/79
5/30/79

7.2
5.8
5. 1
3.6
3. 1
3.0
4.3
4.0


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

4.4
3.6
1.5
1 . 1
1.3
3.2
2.9

-0.4
-2.3
-2. 1
-1.2
1.8
1.6

-2.5
-2.2
-1.1
2.5
2.2

-3.6
-1.8
2.8
2.4

0.5
6. 2
4.8

6.7

8.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
12.5

'RIME BANK
.OAN RATE

12.0
1 1.5

90 DAY CD’S!

11.0

10.5

10.5

10.0

10.0

9.5

9.0

CORPORATE Aaa BONDS

8.5

8.0
COMMERCIAL PAPER
7.5

7.0

MUNICI PAL
BONDS as*

6.5

6.0
5.5

5

APR

19

2

MAY

16 SO

JUN

M 26

JUL

11

29

AUG
1978

8 22

SEP

6 20

OCT

1

NOV

IS 29

DEC

12 26

JAN

9 23

FEB

8 23

MAR

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENOING: JUNE 8,

90 DAY
CD'S 99I8K

1979
APR.

MAY

JUNE

6
13
20
27
4
1 1
16
25

i
6 *
15
22
29

9.99
10.09
10.27
9.94
9.94
10.21
10.19
10.19
10.08
10.09

PRIME
COMMERCIAL
PAPER
4-6 MONTH
9.85
10.05
9.94
9.68
9. 91
10.00
10.03
9.98
9.91
9.90

P=UME
BANKERS'
ACCEPTANCES
9.90
10.05
9.90
9.75
9.99
10.04
10.00
9.94
9.93
9.93

0

6 20

APR
1979

MAY

JUN

1979

CORPORATE
Aaa BONDS

MUNICIPAL
BONDS as*

9.31
9.37
9.39
9.44
9.51
9.52
9.51
9.51
9.48
9.48

6.25
6.33
6.30
6.26
6.27
6.30
6.30
6.21
6. 16
N. A.

* AVERAGES OF RATES AVAILABLE.
BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
aae* seven-day averages of secondary market rates for the week ending Wednesday two days
EARLIER THAN DATES SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE.
N.A. - NOT AVAILABLE
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS


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

SELECTED INTEREST RATES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
11.0,—

PERCENT

10.5
FEDERAL FUNDS RATE

10.0

10.0

DISCOUNT RATE

3-5 YEAR
TREASURY SECURITI

THREE-MONTH TREASURY
BILL MARKET YIELD

S 10

Jill
2 16 SO 14 28 11 23
SEP

OCT

NOV

1 13
DEC

20 12 26 0 23 9 23
JAN
FEB
MAR

6 20
APR

4 18
MAY

1 13 29
JUN

1979
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt JUNE 8, 1979

1979
APR.

X

6
13
20
27
1 1

25
JUNE
1
8 *
15
22
29

FEDERAL
FUNDS XX

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL 3e»e

1-YEAR
TREASURY
BILL

3-5 YEAR
TREASURY
SECURITIES

9.95
9.93
9.96
10.09
10.22
10.25
10.25
10.17
10.28
10.23

9.53
9.70
9.41
9.23
9.58
9.63
9.60
9.64
9.55
9.44

9.50
9.57
9.63
9.30
9.57
9.62
9. 46
9.60
9.41
9.43

9.26
9.37
9.22
9.27
9.40
9.39
9.26
9. 14
9.05
9.00

9.24
9. 34
9.32
9. 35
9. 42
9.42
9. 32

‘

LONG-TERM
TREASURY
SECURITIES

9.03
9.08
9.04

8.96

* AVERAGES OF RATES AVAILABLE.
'
** SEVEN-DAY AVERAGES FOR WEEK END ING WEDNESDAY TWO DAYS EARL IER THAN DATE
SHOWN.
^ ^2R^.,2AI^t^PPEAR IN THE B0ARD 0F GOVERNORS’ H.9 RELEASE.
*** IVfcW I bout RATE
?rI!Iur¥


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

CCWUTED ay THE FEDE"*L "ESEayE

BANK OF ST. LOUIS.

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

NET TIME DEPOSITS

ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
540

1979
APR.

25

535

5Z6.3
5Z7.6
5Z7.9
5Z8.5

530
525
5Z0
515
510
505
500
495
490
485
480

5 18

3 IT 31

14 28 12 26

S 23

6 20
SEP

4 18
OCT

1978

1979

LATEST DATA PLOTTED WEEK ENDING: MAY 30,

1979

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
* NET TIME DEPOSITS ARE DEFINED AS: SAVINGS DEPOSITS, TIME DEPOSITS OPEN ACCOUNT PLUS TIME
CERTIFICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN
DENOMINATIONS OF *100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.

NET TIME. DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
5/31/78

8/30/78

1 1.7
11.4
10.3
9. 1
8.9
6.5
8.9
6.9

1 1.0
9. 1
7.4
7.4
7. 1
7.8
7.9

AVERAGE OF FOUR WEEKS END 1NG t

11/1/78 11/29/78 12/27/78

1/31/79

2/28/79

6.2
8.5
8.5

9.0
8.9

3/28/79

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
11/ 1/78
11/29/78
12/27/78
1/31/79
2/28/79
3/28/79
5/ 2/79
5/30/79


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

6.4
4.7
5.3
5.3
6.6
6.9

2.5
4.0
4.2
6.0
6.4

4.3
4.6
6.7
7.0

10.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS

of dollars

BILLIONS
266. 1
270

— MAY
264.4
263.7
263.8
262.8

1 !.-LLlL1_1
5 19

J IT 31

14 28 12 26
JUN
JUL

B 23

6 20

1

13 29

13 27

10 24

7 21

1978

2

16 30

13 27

1979

LATEST DATA PLOTTED WEEK ENDING: MAY 30,

1979

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

DEMAND DEPOS T COMPONENT OF MONEY STOCK
COMPOUNDED ANNUAL RATES OF CHANGE,
5/31/78

8/30/78

6.0
4. 1
3.4
1.2
0.6
0.6
2.4
2.0

2.0
1.2
-1.7
-2.2
-1.8
1.0
0.6

AVERAGE OF FOUR WEEKS ENDING:

11/1/78 11Z29/78 12/27/78

1/31/79

2/28/79

3/28/79

-2.0
5.6
3.6

10.7
6.3

8.7

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/ 1/78
11Z29/78
12/27/78
1/31/79
2/28/79
3/28/79
5/ 2/79
5/30/79


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

-3.6
-6.5
-6. 1
-4.8
-0.6
-0.9

-6.8
-6.2
-4.6
0.4
-0.2

-8.3
-5.5
0.8
0.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

CURRENCY COMPONENT
OF MONEY STOCK
billions of

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

dollars

1979

billions of dollars

B1LUQNS.
100.2
100.4
100.4

— MAY

100.6

100.8
101.3

I I I I
5

19

3

17

31

14 28

12

26

9 23

6 20

4

16

1978

1979

LATEST DATA PLOTTED WEEK EKK) ING: MAY 30,

1979

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE,

CURRENCY
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGi
5/31/78

8/30/78

10.6
10.5
10.2
10.3
10. 1
9.9
9.6
9.6

12.0
11.1
1 1,2
10.7
10. 4
9.8
9.8

11/1/78 11/29/78 12/27/78

1/31/79

2/28/79

3/28/79

8.2
7.5
8.0

7.2
7.9

7.8

TO THE AVERAGE
OF FOUR WEEKS
ENDINGi
11/ 1/78
11/29/78
12/27/78
1/31/79
2/28/79
3/28/79
5/ 2/79
5/30/79


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

9. 1
9.9
9.5
9.3
8.7
8.8

9.9
9.4
9.1
8.5
8.7

9.9
9.4
8.5
8.7

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

1758
2290
1540

5 IB

3 17 51

14 28 12 26
JUN
JUL

B 23

6 20
SEP

4 16
OCT

1

13 28 13 27 10 24

7 21
FEB

4 16
MAR
APR
1979

1978
LATEST DATA PLOTTED WEEK ENDING:

2 16 30 13 27

JUNE 6, 1979

BUSINESS LOANS
( COMMERCIAL AND INDUSTRIAL )

BILLIONS OF DOLLARS
144 ----- ,------- ,---

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
--- ------- ------ 144

COMPOUNDED ANNUAL RATES
— OF CHANGE, AVERAGE OF ■
_ THE FOUR WEEKS ENDING
MAY 30
1079 FROM
— THE FOUR WEEKS EMJING. '
_MAR. 28, 1979 28.8
FEB. 28, 1979 20.2
“ JAN. 31, 1979 21.9
— DEC. 27, 1978 ~
_ NOV. 29, 1978
AUG. 30, 1978
14.7
“"MAY
31, 1978

'

138,672
140,049
140,565

11 1 1 I I I
OCT

1 13 2B 13 27 10 24
NOV
DEC
JAN

7 21
FEB

MAR

APR

111 1 1 1
2 16 30 13 27
MAY
JUN

1979
LATEST DATA PLOTTED WEEK ENDING: MAY 30, 1979


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

12
CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

I ILL IONS OF DOLLARS

IONS OF DOLLARS
106

104
102
100

I I I I

1978
LATEST DATA PLOTTED WEEK ENDING: MAY 30, 1979
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