Full text of U.S. Financial Data : Week Ending: March 12, 1980
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
s f//v-a/vc//ii Week ending: March 12, 1980 l—l gjjMb The Federal Reserve's new measure of M2 differs significantly from the old The old measure was determined simply by adding time and savings other than lar£e CDs at commercial banks to old Ml. The new M2 nfeeSureJwli the other hand, includes time and savings deposits at both commercial banks and thrift institutions as well as money market mutual fund shares (MMMFs), overnight repurchase agreements (RPs) issued by commercial banks, and overnight Eurodollar deposits at Caribbean branches of U.S. banks. Like money market certificates of deposits at commercial banks, another key component of M2, MMMFs have increased sharply over the past year as interest rates have risen steadily. For example, from January 1979 to February 1980 MMMFs increased by over 360 percent. An important factor in this rapid growth of MMMFs is that their interest rates have not been subject to regulatory ceilings and, consequently, may fluctuate with market interest rates. In addition, shareholders have been attracted to MMMFs by the low transactions costs of acquiring and redeeming shares and by the check-like features available with many funds. In contrast to the rapid expansion of MMMFs, overnight Eurodollars and overnight RPs, which are probably more similar than MMMFs to demand deposits have shown only modest month-to-month fluctuation. For example, the total of these two overnight liabilities has increased by slightly more than 10 percent from January 1979 to February 1980. OTHER COMPONENTS OF NEW M2* (Billions of dollars) Month Overnight RPs ~ January February March April May June July August September October November December January February $ 20.3 20.9 22.0 22.4 23.5 23.1 22.0 21.9 22.6 22.2 20.3 20.6 20.7 21.7 Overnight Eurodollars- Money Market,, Mutual Funds - $ 2.3 2.6 2.8 2.8 2.8 2.9 3.0 3.3 3.5 3.4 3.2 3.5 4.2 3.3 $12.1 14.5 16.8 19.2 21.8 24.6 28.0 31.2 33.7 36.9 40.4 43.6 49.1 56.8 * All data not seasonally adjusted. )J Includes overnight and continuing contract RPs issued to the nonbank public by commercial banks, net of amounts held by money market mutual funds. 2/ issued by Caribbean branches of U.S. member banks to U.S. nonbank customers. 3/ Total money market mutual fund shares outstanding. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Released: March 17, 1980 2 ADJUSTED MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS BILLIONS OF DOLLARS 160 B I U.-LQNS. — FEB. 155.9 155.2 156.9 156. 4 156.6 156.5 MAR. II M 28 FEB 14 28 11 MAR 25 8 23 APR 6 20 4 18 JUN JUL LATEST DATA PLOTTED WEEK ENOING: MARCH 12, I 15 29 12 26 10 24 7 21 5 NOV DEC IB 2 16 30 13 27 12 26 1980 THE ADJUSTED MONETARY BASE CONSISTS OF: (1) MEMBER BANK RESERVES AT jHEFfDERAL RESERVE BANKS. (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND N 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, AVtRAGE OF FOUR WEEKS ENDING: 3/14/79 6/13/79 8/15/79 8.6 8.9 9. 1 8.8 8.6 8.7 8.4 8.6 1 1.7 1 1.3 10.3 9.8 9.8 9.2 9.4 10.4 9.1 8.6 8.8 8.2 8.6 9/12/79 10/10/79 11/14/79 12/12/79 1/9/80 TO THE AVERAGE OF FOUR WEEKS END 1NG: 8/15/79 9/12/79 10/10/79 11/14/79 12/12/79 1/ 9/80 2/13/80 3/12/80 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8.3 7.9 8.4 7.7 8.3 7. 1 7.9 7.2 8.0 8.4 7.3 8.2 7.4 8.6 8.1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MULTIPLIER ADJUSTED FEDERAL RESERVE CRED I T 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO RATIO 2.7 2.7 2.5 MULT PLIER 2.3 1!m. . 30 2.1 RATK * m 2.0 sim MAR 111 -LLL _LLL 1111 1 1 1 -LLL -LLLL _LL_L Jill MARCH 5, I960 1 1 1 ±ul Mill -LLL -LLL5 BILLIONS OF OOLLARS MO 1 1---------- 1---------138 136 134 132 COMPOUNDED ANNUAL R ATES — OF CHANGE, AVERAGE OF----THE FOUR lUfEEKS END 1 MG MARCH 12, 1980 FROM _ THE FOUR WEEKS END 1 MG: ___ — AD. USTED - JAN. 9, 1980 0. DEC. 12, 1979 3. - NOV. M, 1979 5. - OCT. 10, 1979 6. SEP. 12, 1979 7. —JUN. 13. 1979 9. — _ MAR . 14, 1979 8. - feder; L - RES ERVE CF EDIT " - +------- 134 - 130 - - 126 - - 126 u380 - BILLIONS ““ FEB 124 122 5i 111 0 3 17 JAN 111 111 Ji-L -LI 1 1 -LLL 111 si 14 28 14 29 1! 25 9 23 6 20 4 18 FEB MAR APR MAY JUN JUL 1111 111 1 1 1 1 1 15 29 12 2fl 10 24 7 21 AUG NOV SEP OCT 1 1 1 1979 LATEST DATA PLOTTED WEEK ENDING, MARCH 12, 111“ Mil Mill 1 11 5 19 2 16 50 13 27 12 26 DEC JAN FEB MAR 1960 I960 1/ RATIO OF MONEY STOCK (MIA) / ADJUSTED MONETARY BASE 2/ I http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis S BANK. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4 MONEY STOCK ( Ml A ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 385 ------------- 1---------- r— BILLIONS OF DOLLARS ------------------------------- 385 BILLIQNS __ JAN. _ FEB. 3 17 31 30 373. 1 377.0 376.3 377.5 374.7 374.5 14 28 FEB 14 28 11 MAR 25 9 23 6 20 4 1 18 15 29 12 26 10 24 APR 7 21 5 10 NOV DEC 2 18 30 13 27 FEB 12 26 MAR 1979 LATEST DATA PLOTTED WEEK ENDING: MARCH 5, 1980 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. MIA CONSISTS OF CURRENCY ANO COIN PLUS gOkMERCIAL BANK DEMAND DEPOSITS HELD BY THE NONBANK PUBLIC EXCLUDING THOSE HELD BY FOREIGN BANKS AND OFFICIAL INSTITUTIONS. MONEY STOCK (MIA) COMPOUNDED ANNUAL RATES OF CHANGE. 3/7/7S 6/6/79 AVERAGE OF FOUR WEEKS ENDING: 8/8/79 9/5/79 10/3/79 1 /7/79 12/5/79 1/2/80 7.0 5.4 4.6 5.3 5.3 5.7 4.3 3.7 4.8 4.8 5.4 2.5 4.3 4.5 5.3 5.2 6.0 6.6 7.2 6.7 TO THE AVERAGE OF FOUR WEEKS ENDING: 8/ 9/ 10/ 11/ 12/ 1/ 2/ 3/ 8/79 5/79 3/79 7/79 5/79 2/80 6/80 5/80 9.5 9.2 8.8 7.9 7.3 7.4 7.2 7.3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10. 1 9.2 7.7 6.8 7.0 6.8 7.0 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK ( M1B) - | AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED billions “ 391 3 ____ 1 5 - 389. 1 393. 1 392.9 394. 1 A - i jT T T T isa& - JAN. 30 “ FEB. 6 _ 13 20 MAR . BILLIONS OF DOLLARS 400 1 m il BILLIONS OF DOLLARS •400 / A? 1111 - - 1111 / _ i 1111 /‘S ------- si = 365 ~ m r jT T T T c _ s 1111 111 I 11 .1 [ i in i 3 17 31 14 28 14 28 II 25 9 23 JAN FEB MAR APR MAY 111 0 20 JUN 111 4 18 JUL 1 1 1 111 1 iin 1 15 29 12 26 10 24 AUG SEP OCT 1 1 1 7 21 NOV 1 1 1 5 19 DEC 19T9 LATEST DATA PLOTTED WEEK ENDING: MARCH 5, II 1 1 1 1 1 1 1 r 2 16 30 IS 2 12 2 JAN FEB MAR 1980 I960 CURRENT DATA APPEAR IN THE BOARO 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, 3/7/79 6/6/79 12.0 11.4 10.8 9.7 8.9 9.0 8.5 8.6 11.9 10.8 9.0 7.9 8. 1 7.7 7.8 8/8/79 9/5/79 AVERAGE 10/3/79 1 OF FOUR WEEKS ENDING: /7/79 12/5/79 1/2/80 TO THE AVERAGE OF FOUR WEEKS ENDING: 8/ 9/ 10/ 11/ 12/ 1/ 2/ 3/ 8/79 5/79 3/79 7/79 5/79 2/80 6/80 5/80 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7.8 5.9 5.0 5.9 5.7 6.2 4.8 3.9 5.3 5.2 5.9 2.6 4.8 4.8 5.6 5.9 5.5 6.4 7.1 7.8 6.9 PREPARED BY FEDERAL RESERVE BANK OF ST. 5 LOUIS 6 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT —zq 18.5 PERCENT 18.5 = PRIME BANK LOAN RATE COMMERCIAL PAPER 90 DAY CD'S CORPORATE Aaa BONDS 5 19 2 16 2 16 30 13 27 11 25 APR MAY 22 6 20 3 17 31 M 28 14 2B 1980 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MARCH 14, JAN. FEB. 4 1 1 18 25 1 8 15 22 29 7 14 1980 90 DAY CD'S PRIME COMMERCIAL PAPER HOME PRIME BANKERS* ACCEPTANCES CORPORATE Aaa BONDS MUNICIPAL BONOS X* 13.45 13.38 13.33 13.42 13.36 13.43 13.59 14.93 15.45 16.87 17.63 12.98 12.82 12.88 12.97 13.01 13.01 13.13 14.21 14.78 16. 17 16.91 13.29 13.09 13.04 13.24 13.11 13.13 13.33 14.65 15. 10 16.59 17. 13 10.88 10.91 10.99 11.22 11.49 11.95 12.19 12.74 12.90 13.00 13.00 7.32 7.30 7.28 7.33 7.52 7.71 7.75 8.46 8.72 8.94 N. A. 21 28 IWIH30N0^BIJYER'AVERAGE' ^NDEX OF *0 MUNICIPAL BONDS. THURSDAY DATA. MK* 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 SELECTED INTEREST RATES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT 17.5 cr PERCENT FEDERAL FUNDS RATE 10.5 DISCO „ 3-5 YEAR TREASURY SECURITIES THREE-MONTH TR1 BILL MARKET Yll 5 18 JAN 2 16 FEB 2 18 30 MAR 13 27 11 APR 25 MAY 8 22 JUN 6 20 JUL 3 17 31 AUG M 28 12 28 SEP OCT 8 23 NOV 1980 JAN. 4 1 1 18 25 FEB. 1 8 15 22 29 MAR. 7 14 X 21 28 FEDERAL FUNDS XX 14.04 13.94 13.91 13.77 13.54 12.80 13.64 14.87 14.62 16. 17 16.45 3-MONTH TREASURY BILL 12. 10 11.72 11.91 12.17 12.15 12.05 12.36 13.38 13.78 15.37 15.34 6-MONTH TREASURY BILL mm 11.88 11.86 11.78 11.89 11.85 11.99 12.25 13.01 13.63 14.79 14.96 1-YEAR TREASURY BILL 10.97 10.78 10.83 11.05 11.23 I 1 .51 1 1 .91 13. 12 13.53 13.94 13.87 1 0E< 1979 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK END INGt MARCH M, 3-5 YEAR TREASURY SECURITIES 10.59 10.58 10.66 10.87 11.13 1 1 .66 11.90 13.21 13.57 13.65 13. 19 15 28 14 28 I960 LONG-TERM TREASURY SECURITIES 10.21 10.27 10.42 10.73 1 1.01 1 1.51 11.76 12.53 12.49 12.41 12.11 * AVERAGES OF RATES AVAILABLE. SHOWN. KSUB http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C0UPUTED BY THE FEDER*L RESRm BANK OF ST. LOUIS. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 7 8 NGS PLUS SMALL TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS ------------------------------- 450 BILLIONS OF DOLLARS 450 r----------- 1---------- r— BILLIONS Z~ JAN. 30 439.2 440.3 440.4 441.1 440.5 I I I I 3 17 31 14 28 14 28 11 25 9 23 6 20 4 18 1 15 28 12 26 10 24 7 21 2 16 30 13 27 FEB 1980 12 26 MAR LATEST DATA PLOTTED WEEK ENDING: MARCH 5, I960 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 1100,000. SAVINGS PLUS SMALL TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, 3/7/79 6/6/79 10.5 10.5 9.8 9.2 9.3 8.9 8.9 8.8 12.7 1 1 .0 9.7 9.8 9. 1 9.2 8.9 AVERAGE OF FOUR WEEKS ENDING, 8/8/79 9/5/79 10/3/79 11/7/79 12/5/79 1/2/80 8. 1 7.1 7.8 7.2 7.7 7.6 5.6 6.9 6.5 7.1 7.1 7.5 6.7 7.5 7.4 7.5 8.2 8.0 7.4 7.3 8.4 TO THE AVERAGE OF FOUR WEEKS ENDING: 8/ 9/ 10/ 11/ 12/ 1/ 2/ 3/ 8/79 5/79 3/79 7/79 5/79 2/80 6/80 5/80 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 BILLIONS OF DOLLARS 285 ------------- .---------- ------- BILLIONS OF DOLLARS ------------------------------- 205 BILLIONS 265.4 268.8 268.4 — FEB. 266.3 265.8 I JAN FEB MAR APR MAY JUN JUL 15 29 12 28 10 24 AUG 7 21 5 19 NOV DEC 2 16 30 15 27 FEB 12 26 MAR 1979 LATEST DATA PLOTTED WEEK ENDING: MARCH 5, 1980 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. DEMAND DEPOS1T COMPONENT OF MONEY STOCK (MIA ) COMPOUNDED ANNUAL RATES OF CHANGE 3/7/79 6/6/79 8/8/79 9/5/79 AVERAGE OF FOUR WEEKS ENDING: 0/3/79 11/7/79 12/5/79 5.6 4.3 5.2 5.4 6.2 1/2/80 TO THE AVERAGE OF FOUR WEEKS ENDING: 8/ 9/ 10/ 11/ 12/ 1/ 2/ 3/ 8/79 5/79 3/79 7/79 5/79 2/00 8/80 5/80 9.3 8.7 8.0 7.0 6.5 6.7 6.3 6.4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9.5 8. 1 6.5 5.8 6.2 5.7 5.9 4.6 3.3 3.0 4. 1 3.8 4.4 2.2 2.2 3.8 3.5 4.2 1.5 3.9 3.4 4.3 4.9 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 10 CURRENCY COMPONENT OF MONEY STOCK MEASURES AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 112 107.7 108.2 107.9 108.3 108.8 INI 3 17 31 14 28 14 28 FEB MAR II 25 9 23 8 20 4 18 1 15 29 12 28 10 24 7 21 2 16 50 13 27 FEB APR 12 20 MAR LATEST DATA PLOTTED WEEK EM5IN6: MARCH 5, I960 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. CURRENCY COMPOUNDED ANNUAL RATES OF CHANGE, 3/7/79 6/6/79 8/8/79 10.3 10.8 10.9 10.4 9.7 9.3 9.7 9.7 12.0 1 1 .9 10.8 9.7 9. 1 9.7 9.7 12.6 10.5 8.9 8. 1 9. 1 9.3 AVERAGE OF FOUR WEEKS ENDING: 9/5/79 10/3/79 11/7/79 12/5/79 9.2 7.5 6.9 8.4 8.6 5.6 5.4 7.6 8.1 4.4 7.8 8.3 9.6 9.8 1/2/80 TO THE AVERAGE OF FOUR WEEKS ENDING: 8/ 9/ 10/ 11/ 12/ 1/ 2/ 3/ 8/79 5/79 3/79 7/79 5/79 2/80 6/80 5/80 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12.0 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS BORROWINGS FROM FEDERAL RESERVE BANKS ALL MEMBER BANKS BILLIONS A.o of IN THE NATION AVERAGES OF DAILY FIGURES OOLLARS = 1980 MILLIONS —~FEB. 6 759 13 1236 3.0 — 20 2194 27 2057 = MAR. 5 2508 2.5 A Z 1 .0 Don / M =V l/S/ -i 111 111 J.11 JJ_L IN' .1.11 -LLL .mi 3 17 3 M 2 14 2 8 112 JAN FEB MAR APR MAY JUN JUL 1979 AUG jj i SEP 71 r—E 2.5 2.0 E V V V 3.5 3.0 \a ) A J\ J v — V 0.5 A E / E f t— l___ / 1____ ars 4.0 n Z 2.0 1.5 billions of ,-------.---------------------- ------- ------- ---------------------—----------—---------1-------!--------- T~ .in i 111 1 1 1 .mi OCT NOV DEC JAN T 1.5 z \r~ 1.0 E 111 i 11 0.5 0 FEB 1980 LATEST DATA PLOTTED WEEK ENDING: MARCH 12, 1980 BUSINESS LOANS ( COMMERCIAL AND INDUSTRIAL ) BILLIONS OF DOLLARS 164 162 160 158 156 154 152 WEEKLY REPORTING LARGE COMMERCIAL BANKS SEASONALLY ADJUSTED BILLIONS OF DOLLARS 164 _ 162 _COMPOUNDED ANNUAL RA TES OF CHANGE, AVERAGE 0 F the four Weeks end in G — MARCH 5. 1980 FROM “ THE FOUR WEEKS END IN G: — JAN. — DEC. _NOV. — OCT. _ SEP. __ JUN. 2, 5, 7, 3, 5, 6, 1980 1979 1979 1979 1979 1979 A 160 / 158 27.4 25.2 17.3 12.9 15.1 18.1 .. - r- / s A- A/ _ 150 148 - 146 - 144 - _ 140 138 “ 132 0 152 15Q 148 146 — 144 - - 136 154 _ 142 134 156 142 _ 1 98C - millions JAN. 30 6 13 20 27 MAR. 5 . .Vyf jlll 1 1 1 1 1 1 1 1 1 1111 JAN FEB MAR APR MAY 111 i 11 JUN JUL 1979 LATEST DATA PLOTTED WEEK ENDING: MARCH 5, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis J Ll 1 AUG 1 1 1 ii 11 111 SEP OCT NOV 158,051 159,422 160,921 161,580 160,032 160,284 — — .mi ....................... Ml" DEC JAN FEB 1980 1980 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 140 138 136 134 132 0 12 LARGE TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED IONS OF DOLLARS ILL IONS OF DOLLARS 180.8 I I I I 3 17 31 14 28 14 28 II 25 0 23 6 20 <18 LATEST DATA PLOTTED WEEK ENDING, MARCH 5. 1 15 29 12 26 10 24 7 21 S IB 2 16 30 15 27 12 26 FEB MAR 1980 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 OR MORE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
@FedFRASER