Full text of U.S. Financial Data : Week Ending: March 17, 1976
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/ L7. Week ending: March 17, 1976 LIBRARY DEO 2 s 197$ http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis From early May 1975 to early August 1975 the monetary base, on a nonseasonally adjusted basis, increased by $2.8 billion, compared to a $3.2 billion increase from early August 1975 to early March 1976. Although the levels of change in these two periods were very close, the factors which contributed to these changes were different, as indicated in the table below. For example, during the three months from May to August 1975 Federal Reserve holdings of securities decreased by $5.4 billion (a negative influence on the base), while Treasury deposits at Federal Reserve Banks decreased by $7.4 billion (a positive influence on the base). In contrast, over the most recent seven months Federal Reserve holdings of securities increased by $8.3 billion (a positive influence on the base), while Treasury deposits at Federal Reserve Banks increased by $7.6 billion (a negative influence on the base). The effect of the reserve adjustment magnitude (RAM) was greater in the most recent seven months — accounting for almost half of the change in the monetary base — compared to only twenty percent in the previous three months. The easing of reserve requirements on two occasions in the most recent seven months contributed to the larger effect of RAM on changes in the monetary base over the most recent period. Changes in Factors Influencing the Monetary Base—' Billions of Dollars (Sign Indicates Effect on Monetary Base) 5/21/75 to 8/20/75 o/ 8/20/75 - to 3/17/76 o/ ~ Sources of Monetary Base: U.S. Government Securities Loans, Float & Other F.R. Assets Treasury Deposits at F.R. Banks Other Factors $-5.4 -0.1 +7.4 +0.3 $+8.3 +0.8 -7.6 Source Base 3/ RAM^' $+2.2 $+1.7 +0-6 +1.5 Monetary Base $+2.8 $+3.2 +0.2 Data are not seasonally adjusted. 2/ —^Change in average of figures for four weeks ended these dates. — Adjustment for reserve requirement ratio changes and shifts in the same type of deposits between banks where different reserve requirement ratios apply. Reserve adjustment computed by this Bank. Prepared by Federal Reserve Bank of St. Louis Released: March 19, 1976 MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS am FEB. 11 5 19 5 19 FEB BILLIONS OF DOLLARS MILLIONS. 120,811 2 16 30 14 26 II 25 9 23 6 20 3 IT AUG MAR I 15 29 12 26 10 24 7 21 4 16 JAN SEP FEB 5 17 31 14 26 1976 LATEST DATA PLOTTED WEEK ENDING: MARCH 17, 1976 THE MONETARY BASE CONSISTS OF MEMBER BANK RESERVES AT THE FEDERAL RESERVE BANKS AND CURRENCY IN CIRCULATION(CURRENCY HELD BYTHE PUBLIC AND IN THE VAULTS OF COMMERCIAL BANKS). ADJUSTED FOR RESERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE SAME TYPE OF DEPOSITS BETWEEN BANKS WHEREDIFFERENT RESERVE REQUIREMENT RATIOS APPLY. THE MAJOR SOURCES OF THE MONETARY BASE ARE FEDERAL RESERVE CREDIT AND THE GOLD STOCK. DATA ARE COMPUTED BY THIS BANK. A DETAILED DE SCRIPTION OF THE SOURCES AND USES OF THE MONETARY BASE IS AVAILABLE AS REPRINT NO. 31 FROM THE FEDERAL RESERVE BAT* OF ST. LOUIS. COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 3/19/75 6/18/75 8/20/75 6.7 7.0 6.4 6.8 7.4 6.4 6.6 7.0 6.0 5.1 6.0 7.1 5.7 6.0 6.6 5.6 7.0 8.4 6.2 6.5 7.2 9/17/75 10/15/75 11/19/75 12/17/75 1/14/76 TO THE AVERAGE OF FOUR WEEKS ENDING: 8/20/75 9/17/75 10/15/75 11/19/75 12/17/75 1/14/76 2/18/76 3/17/76 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6.1 8.2 5.5 6.1 7.0 1 1.0 6.5 6.9 7.8 4.9 6.1 7.4 3.0 5.7 9.7 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MULTIPLIER v FEDERAL RESERVE CRED I T 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO RATIO MULTIPLIER 1376. RATIO MAR. LATEST DATA PLOTTED WEEK ENDING: MARCH 10, 1976 BILLIONS OF DOLLARS 118 ---------- .---------- ,-------- BILLIONS OF DOLLARS ----- ------------- ---------- 118 COMPOUNDED ANNUAL RATES -----OF CHANGE, AVERAGE OF — THE FOUR WEEKS ENOING MARCH 17, 1976 FROM -----THE FOUR WEEKS ENDING: " JAN. — DEC. _ NOV. OCT. 14, 17, 19, “ -----SEP. — JUN. MAR. 1976 1975 1975 — 1975 1975 1975 29.1 24.4 18.1 20.2 FEDERAL RESERVE CREDIT 14.0 137.6. FEB. 5 19 5 19 FEB MAR 2 16 30 14 26 11 25 9 23 6 20 3 17 1 15 29 12 26 10 24 7 21 MILLIONS 1 4 16 3 17 31 14 26 1975 LATEST DATA PLOTTED WEEK ENDING: MARCH 17, 1976 1/ RATIO OF MONEY STOCK CMl ) / MONETARY BASE. 2/ DEFINED TO INCLUDE HOLDINGS OF SECURITIES, LOANS, FLOAT AND OTHER'• ASSETS ADJUSTED FOR RESERVE REQUIREMENT RATIO CHANGES AND SHIFTS APPLyT SAME TA AREOF DEPOSIT^ BETWEEN BANKS ^INDIFFERENT RESERVE REQUIREMENT RATIOS IN THE M TYPE SEASONALLY ADOPTED http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK PLUS NET TIME DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF * aRS 62" BILLIONS = FEB 685 680 676.7 67-8.4 676.7 677.7 681.3 675 670 665 660 655 650 645 640 635 630 625 620 615 5 19 I II FEB MAR 2 16 30 14 26 II 23 0 23 6 20 3 17 AUG 7 21 4 16 3 17 31 14 26 SEP 1 13 20 12 26 10 24 1976 1975 LATEST DATA PLOTTED WEEK ENDING: MARCH 10, 1976 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. MONEY STOCK PLUS NET T IME DEPOSITS (M2) COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING: 3/12/75 6/11/75 8/13/75 9/10/75 11.0 10.4 9.2 9.0 9. 1 8.5 9. 1 9.3 9. 1 7.4 7.5 7.9 7. 1 8.2 8.5 4.7 5.8 6.8 6.0 7.6 8. 1 5.2 6.7 5.7 7.7 8.3 10/8/75 11/12/75 12/10/75 1/7/76 TO THE AVERAGE OF FOUR WEEKS ENDING: 8/13/75 9/10/75 10/ 8/75 11/12/75 12/10/75 1/ 7/76 2/11/76 3/10/76 4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8.7 6.8 8.9 9.4 6.3 9.4 9.9 9.1 9.9 13.3 PREPARED BV FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS lSZfi BILLIONS OF DOLLARS 8 ILL. I QMS. 297.3 297.9 295.8 5 19 5 19 FEB MAR 2 16 30 14 2* 11 25 9 23 6 20 t IT AUG SEP 1 13 29 12 26 10 24 1975 7 21 4 1* JAN FEB 3 17 91 14 2« 1976 LATEST DATA PLOTTED WEEK ENDING! MARCH 10, 1976 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. COMPOUNDED ANNUAL RATES OF CHANGE . AVERAGE OF FOUR WEEKS ENDING: 3/12/75 6/11/75 8/15/75 9/10/75 7.6 7.9 6.3 5.9 5.8 5.1 4.9 5.1 6.4 3.9 3.9 4.0 3.3 3.2 3.6 2.7 3.2 3.5 2.6 2.7 3.2 0.4 1.6 1.0 1.5 2.3 10/8/75 11/12/75 12/10/75 1/7/76 TO THE AVERAGE OF FOUR WEEKS ENDING: 8/13/75 9/10/75 10/ 8/75 11/12/75 12/10/75 1/ 7/76 2/11/76 3/10/76 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4.2 2.6 2.7 3.4 1.8 2.2 3.3 1.2 2.9 4.6 PREPARED BY FEDERAL RESERVE BAM< OF ST. LOUIS 5 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT 10.5 i— PERCENT CORPORATE Aaa BONDS PRIME BANK LOAN RATE MUNICIPAL BONDSaw COMMERCIAL PAPER 90 DAY CD*Same 4.0 0 4.0 111 ■ 111 7 21 7 21 FEB MAR 4 18 APR 1111 till 1 1 1 11 1 1 2 18 30 13 27 11 25 8 22 MAY JUN JUL AUG 1975 1 1 1 5 19 SEP I I I I I I I I I 1 N I I I I I t I I I I I I if till 3 17 31 14 2« 12 2« 9 23 8 20 5 19 2 18 30 0 OCT NOV DEC JAN FEB MAR APR 1976 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. MARCH 19, 1976 FEB. 6 13 20 27 MAR. 5 12 19 * 26 APR. 2 9 16 23 30 6 1976 90 DAY CD’S XKK PRIME COMMERCIAL PAPER 4-6 MONTH PRIME BANKERS’ ACCEPTANCES CORPORATE Aaa BONDS MUNICIPAL BONDS aos 5.00 5.21 5.20 5.18 5.32 5.41 5.38 5. 15 5.25 5.28 5.25 5.38 5.38 5.46 4.95 4.97 5.02 5.04 5.26 5.21 5.22 8.56 8.57 8.56 8.51 8.55 8.55 8.54 6.66 6.95 6.97 6.98 7.04 6.98 N. A. as AVERAGES OF RATES AVAILABLE. aas BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS. THURSDAY DATA. aaas 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 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS SELECTED SHORT-TERM INTEREST RATES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT 8.0 ---- ----- 8.0 THREE H TREASURY BILL MARKET YIELD DISCOUNT RATE FEDERAL FUNDS RATE 7 2T 7 21 4 1# 2 FEB MAR APR MAY 16 30 13 27 11 JUN 25 6 22 JUL AUG 5 19 3 17 31 SEP OCT M 28 12 29 9 C3 NOV DEC JAN 6 20 FEB 1975 5 19 2 19 MAR LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt MARCH 19, FEDERAL FUNDS mm 1976 FEB. 6 13 20 MAR. 27 5 12 19 IK 26 APR. 4.82 4.73 4.70 4.80 4.95 4.86 4.77 APR 1976 3-MONTH TREASURY BILLS 90 85 87 90 20 99 98 1-YEAR TREASURY BILL 3-5 YEAR GOVERNMENT SECURITIES 5.45 5.47 5.58 5.62 5.98 5.86 5.87 1976 LONG-TERM GOVERNMENT SECURITIES 6.93 6.96 6.94 6.88 6.96 6.91 6.89 2 9 16 23 30 * AVERAGES OF RATES AVAILABLE. ** ?5K?AM(E5ii®NF?5 ?iKB!!SiSN§F"l§5l&7«s,§*^.|«^“ than 4e show. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS NET TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS of dollars billions of dollars e ILLI ONS. 377.9 379.4 380.5 380.9 381.1 382.2 5 19 5 19 FEB 2 16 30 14 26 11 25 9 23 3 17 SEP 1 15 29 12 26 10 24 7 21 4 16 JAN 6 20 AUG MAR FEB 3 17 31 14 26 LATEST DATA PLOTTED WEEK ENDING. MARCH 10. 1976 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. X NFT TIME DEPOSITS ARE DEFINED AS. SAVINGS DEPOSITS, TIME DEPOSITS OPEN ACCOUNT PLUS TIME CERTIFICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME dERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 6100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BAhKS. NET TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, 3/12/75 6/11/75 8/13/75 9/10/75 13.8 12.5 11.8 11.6 11.9 11.4 12.7 12.9 11.5 10.4 10.5 11.1 10.4 12.3 12.7 6.4 8.0 9.6 8.8 11.7 12.3 9.0 10.8 9.6 12.9 13.3 AVERAGE OF FOUR WEEKS ENDING: 10/8/75 11/12/75 12/10/75 1/7/76 TO THE AVERAGE OF FOUR WEEKS ENDING. 8/13/75 9/10/75 10/ 8/75 11/12/75 12/10/75 1/ 7/76 2/11/76 3/10/76 8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12.5 10.4 14.2 14.5 10.3 15.6 15.7 15.9 15.9 20.7 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 222.0 222.4 222.8 220.7 — MAR 221.6 223.4 5 19 S 19 FEB MAR 2 16 30 14 29 11 25 9 25 6 20 5 17 1 15 29 12 29 10 24 7 21 4 16 5 17 51 14 29 LATEST DATA PLOTTED WEEK ENDING* MARCH 10, 1976 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING* 3/12/75 6/11/75 8/13/75 9/10/75 6.9 7.5 5.6 5. 1 4.8 4.0 3.6 3.7 5.6 2.8 2.6 2.5 1 .7 1.6 1.8 2.4 2.2 2. 1 1 . 1 1.0 1.4 -1.6 -0.5 -1 . 1 -0.7 0.0 10/8/75 11/12/75 12/10/75 1/7/78 TO THE AVERAGE OF FOUR WEEKS ENDING* 8/13/75 9/10/75 10/ 8/75 11/12/75 12/10/75 1/ 7/76 2/11/76 3/10/76 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1 .8 0.4 0.4 1.1 -0.6 -0.2 0.8 -1.0 0.5 2. 1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS BILLIONS OF DOLLARS WEDNESDAY FIGURES NOT SEASONALLY ADJUSTED BILLIONS OF DOLLARS 92 90 88 86 84 82 80 78 76 74 72 70 68 5 19 5 19 FEB MAR 2 16 90 14 28 11 25 9 23 6 20 9 17 1 15 29 12 26 10 24 1975 7 21 4 18 JAN FEB 3 17 31 14 28 1976 LATEST DATA PLOTTED WEEK ENDINGt MARCH 10, 1976 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 8100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BAM<S. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1976 FEB. MAR. APR. 4 1 1 18 25 3 10 17 24 31 7 14 21 28 CERTIFICATES CERTIFICATES OF DEPOSIT OF DEPOSIT NOT SEAS. ADJ. SEAS. ADJ. 75.2 73.9 72.9 72.0 71.8 71.6 76.7 75.8 75.3 74.8 74.3 73.5 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 2.0 ---------------- ------ ----- 1-------------1---------- 2-0 JLSZfi. MILLIONS FEB. 11 5 It 5 IB 2 16 30 14 26 11 FEB MAR APR MAY 25 0 25 JUN JUL 6 20 AUG 5 17 1 SEP OCT 15 29 12 26 10 24 NOV DEC 51 7 21 4 16 5 17 31 JAN FEB MAR 1975 14 26 APR 1976 LATEST DATA PLOTTED WEEK ENDINGt MARCH 17, 1976 BUSINESS LOANS ( COMMERCIAL AND INDUSTRIAL ) BILLIONS OF DOLLARS WEEKLY REPORTING LARGE COMMERCIAL BANKS SEASONALLY ADJUSTED BILLIONS OF DOLLARS 130 126 126 1 24 122 120 116 116 114 112 - no 5 19 5 10 FEB MAR 2 16 30 14 26 11 25 0 25 6 20 3 17 LATEST DATA PLOTTED WEEK ENDINGt MARCH 10, 15 20 12 26 10 24 7 21 4 18 JAN 1975 1 FEB 3 17 31 14 26 1976 1976 * LEVELS OF BUSINESS LOANS BEGINNING JANUARY 7 ARE NOT COMPARABLE TO PREVIOUS DATA. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER BANK DEPOSITS SUBJECT TO RESERVE REQUIREMENTS (CREDIT PROXY ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS CREDIT PROXY ADJUSTED 1/ CREDIT PROXY PROXY 506.2 506.5 506.9 507.4 506.S 507.5 516.4 516.9 515.4 514.3 1 1 1 I 1 1 1 1 5 19 5 19 2 16 30 14 26 MAY 11 25 9 23 6 20 3 17 1 15 29 12 26 10 24 7 21 4 16 5 17 SI 14 26 JUN 1975 LATEST DATA PLOTTED WEEK ENDING: MARCH 10, 1976 1976 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE. 1/ INCLUDES MEMBER BANK DEPOSITS, BANK-RELATED COMMERCIAL PAPER, EURODOLLAR BORROWINGS OF U.S. BANKS, AND CERTAIN OTHER NONDEPOSIT SOURCES. * DATA PRIOR TO JANUARY 7, 1976 HAVE BEEN REVISED BUT IS NOT AVAILABLE. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS