Full text of U.S. Financial Data : Week Ending: May 11, 1977
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s/ LJ. y ir Week ending: May 11, 1977 ^ t-i Interest rates on most securities averaged somewhat lower in April than they did in March of this year, as indicated in the table below. The lower averages of yields in April are evident for both short''V&UB jAji and long-term securities, with the exception of the Federal funds rate. _IBF: Two securities recorded declines of 10 or more basis points — municipal DEC 2 6 ICTSjfk011**8 3"f> year Treasury securities. So far in May, the averages of yields on short-term securities are generally more than 15 basis points higher than the monthly averages recorded in the first four months of 1977. Averages of currently available long-term yields, on the other hand, are little changed from their April averages. The May averages of yields on corporate Aaa bonds and municipal bonds are still lower than their March averages, while the May average of yields on long-term Treasury securities is only 3 basis points higher than its March average. YIELDS ON SELECTED SECURITIES (Monthly Averages of Daily Rates) Jan. 1977 Feb. 1977 March 1977 April 1977 May 1977 * Short-Term Securities Federal Funds 4.61% 4.68% 4.69% 4.73% 5.23% Prime Commercial Paper (4-6 Month) 4.74 4.82 4.87 4.87 5.08 Prime Bankers’ Acceptances 4.81 4.83 4.80 4.78 5.17 3-Month Treasury Bills 4.62 4.67 4.60 4.54 4.84 1-Year Treasury Bills 5.00 5.16 5.19 5.10 5.37 ( Intermediate-Term Securities 3-5 Year Government Securities 6.49 6.69 6.72 6.58 6.75 Long-Term Securities Corporate Aaa Bonds 7.96 8.04 8.10 8.04 8.06 Long-Term Government Securities** 7.35 7.53 7.57 7.50 7.60 Municipal Bonds*** 5.87 5.89 5.91 5.75 5.76 * Averages of rates available through May 11, 1977. ** Issues due or callable in ten years or more, excluding issues that have special Federal estate tax privileges. *** Thursday data http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Released: May 13, 1977 MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS BILLIONS OF DOLLARS 136 MILLIONS 134 132 130 128 126 124 122 S 17 31 H 28 12 26 9 23 7 21 1 15 29 13 27 10 24 8 22 DEC - 5 19 JAN 2 16 2 16 30 13 27 11 25 FEB 1976 1977 LATEST DATA PLOTTED WEEK ENDING: MAY 11, 1977 THE MONETARY BASE CONSISTS OF MEMBER BANK RESERVES AT THE FEDERAL RESERVE BANKS AND CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF COMMERCIAL BANKS), ADJUSTED FOR RESERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE SAME TYPE OF DEPOSITS BETWEEN BANKS WHERE DIFFERENT 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 BANK OF ST. LOUIS. MONETARY BASE COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 5/12/76 8/11/76 10/13/76 11/10/76 12/8/76 1/12/77 4.7 5.3 6.4 6.7 8. 1 8. 4 2/9/77 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/13/76 11/10/76 12/ 8/76 1/12/77 2/ 9/77 3/ 9/77 4/13/77 5/11/77 2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6.8 6.9 7. 1 6.2 6.5 6.6 6.8 6.9 8.4 8.4 6.7 7. 1 7. 1 7.3 7.5 8. 1 5.3 6.2 6.4 6.9 7. 1 4.3 5.8 6. 1 6.7 7.0 PREPARED BY 8.4 8. 1 8.2 FEDERAL. RESERVE SANK OF ST. UJUI3 MULTIPLIER 1/ ADJUSTED FEDERAL RESERVE CREDIT*/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO RATIO MULTIPLIER RATIO 2.399 2.440 2.44 MAR. 3 2.445 2.430 I 1 I I I I I I LATEST DATA PLOTTED WEEK ENDING: MAY 4, 1977 BILLIONS OF DOLLARS BILLIONS OF DOLLARS 120 120 — ------ 1------- 1---------r COMP OUNDED ANNUAL RAT ES 118 -- OF C HANGE, AVERAGE OF THE FOUR WEEKS ENDING “ MAY 11. 1977 FROM THE FOUR WEEKS ENDING 116 9, 1977 10.1 - MAR 9, 1977 8.6 FEB 1 14 -- JAN 12, 1977 8.7 8 , 1976 6.5 _ DEC 10, 1976 6.7 NOV 112 AUG l l , i yr o t. o 6.8 _ MAY 12. 1976 1 - 114 AD. USTED F:EDERA L RES ERVE CF EDIT x/ s/"' 102 V" V' . 110 - V - V". 1 977 A 104 r APf . km MAR in- 111 1 1 1 .1 APR MAY JUN 111 ~ 112 /s. ■K 106 ■'X - V - 116 - 110 108 18 111 JUL AUG 1976 MA'< MILLIONS 6111,849 13 112 147 20 113,443 27 1121948 4 112^921 11 112,651 — “ _ 1111 1 1 1 111 -LULL 111 J_LL 1 1 1 II 1 1 III 1 LL SEP OCT NOV DEC JAN FEB MAR 1977 APR 108 106 104 102 MAY LATEST DATA PLOTTED WEEK ENDING: MAY 11, 1977 1/ RATIO OF MONEY STOCK ( Ml ) / MONETARY BASE. 2/ FEDERAL RESERVE CREDIT CONSISTS OF FEDERAL RESERVE HOLDINGS OF SECURITIES, LOANS, FL0A1 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 AND SHIFTS IN THE SAME TYPE OF DEPOSITS BETWEEN BANKS WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY. DATA ARE COMPUTED BY THIS BANK. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 MONEY STOCK PLUS NET TIME DEPOSITS (M2) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 770 r=----- 1----- ,-- BILLIONS OF DOLLARS --------- ----rq 770 ej-LUONS MAR. 30 761.3 763.0 761.7 764.0 762.6 S 17 31 14 26 12 26 MAR APR MAY 9 23 7 21 1 IS 29 13 27 10 24 6 22 OCT NOV DEC 5 19 JAN 2 16 FEB 2 16 30 13 27 11 25 APR MAY LATEST DATA PLOTTED WEEK ENDING: MAY 4. 1977 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. MONEY STOCK PLUS NET TIME DEPOSITS ( M 2 ) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:, 5/5/76 8/4/76 10/6/76 11/3/76 12/1/76 1/5/77 2/2/77 3/2/77 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/ 11/ 12/ 1/ 2/ 3/ 4/ 5/ 6/76 3/76 1/76 5/77 2/77 2/77 6/77 4/77 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9.3 10. 1 10. 1 10.6 11.9 10.4 10. 1 10. 1 11.4 12.5 12.9 1 1.7 10.8 10.8 10.7 10.7 10.2 10.8 10.8 1 1.6 12.0 12.2 10.8 10.0 10.0 10.2 11.1 9.9 9.9 10.2 7.5 8.5 9.2 8.7 9.7 10.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK ( Ml ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 330 BILLIONS 315.0 320.3 321.4 321.0 322.8 321.2 — APR 325 320 315 310 305 300 295 3 17 31 M 28 12 26 9 23 7 21 4 18 1 15 29 13 27 10 24 8 22 5 19 2 16 JAN FEB 1976 LATEST DATA PLOTTED WEEK ENDING: MAY 4, 1977 2 16 30 13 27 11 25 APR MAY 1977 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: 5/5/76 8/4/76 10/6/76 11/3/76 12/1/76 1/5/77 2/2/77 3/2/77 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/ 11/ 12/ 1/ 2/ 3/ 4/ 5/ 6/76 3/76 1/76 5/77 2/77 2/77 6/77 4/77 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4.2 5.2 4.4 5.4 5. 1 4.7 5. 1 6.2 6.8 5.0 6.5 5.8 5.2 5.7 7. 1 5.0 7.5 6.2 5.3 5.9 7.7 5.9 4.7 4.0 5.0 7.2 7.3 5.5 6. 4 8.7 1.9 4.4 7.9 5.5 9.8 13.6 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT 10.0 9.5 9.0 CORPORATE AM BONDS 8.5 8.0 7.5 PRIME BANK LOAN RATE 7.0 6.5 MUNICI PAL COMMERCIAL PAPER BONDS** 6.0 5.5 5.0 4.5 4.0 5 19 2 16 30 H 26 11 25 9 23 6 20 3 17 1 15 29 12 26 10 24 7 21 4 JAN FEB 18 4 18 1 IS 29 13 27 MAR 1976 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MAY 13. 1977 MAR. 4 11 18 25 APR. 1 8 15 22 29 MAY 6 13 *** 20 90 DAY CD'S xim PRIME COMMERCIAL PAPER 4-6 MONTH PRIME BANKERS’ ACCEPTANCES 4.88 4.87 4.83 4.80 4.81 4.85 4.84 4.74 4.81 4.94 5.21 4.85 4.85 4.88 4.88 4.88 4.88 4.88 4.85 4.86 4. 98 5. 17 4.83 4.84 4.81 4.79 4.76 4.79 4.76 4.76 4.82 5.06 5.28 1977 CORPORATE Am BONDS MUNICIPAL BONDS men 8.10 8.12 5.92 5.92 5.90 5.88 5.85 5.79 5.70 5.73 5.68 5.76 N. A. 8.09 8.09 8. 10 8. 10 8.05 7.99 8.01 8.04 8.08 27 6 * AVERAGES OF RATES AVAILABLE. ** BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA. 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 7.5 3-5 YEAR GOVERNMENT SECURITIES 7.0 6.5 6. C DISCOUNT RATE 5.5 FEDERAL FUNDS RATE THREE-MONTH TREASURY BILL MARKET YIELD 5.0 4.5 4.0 5 19 2 16 30 14 28 11 25 9 23 6 20 3 17 1 15 29 12 26 10 24 7 21 4 18 4 18 JAN FEB MAR 1 15 29 13 27 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MAY 13, 1977 1977 MAR. 4 1 1 18 25 APR. 1 8 15 22 29 MAY 6 13 * 20 FEDERAL FUNDS m- 3-MONTH TREASURY BILLS 1-YEAR TREASURY BILL 3-5 YEAR GOVERNMENT SECURITIES LONG-TERM GOVERNMENT SECURITIES 4.68 4.63 4.62 4.77 4.74 4.60 4.65 4.71 4.82 5.15 5.31 4.66 4.63 4.59 4.57 4.57 4.58 4.55 4.51 4,51 4.75 4.93 5.23 5.22 5.18 5.17 5.15 5.14 5.03 5.04 5.18 5.28 5.45 6.76 6.77 6.71 7.60 7.60 7. 56 7.55 7.56 7.55 7.48 7.45 7.51 7.57 7.62 6.68 6.70 6.70 6.52 6.49 6.59 6.72 6.78 27 * AVERAGES OF RATES AVAILABLE. ** SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN _»1N THE BOARD OF GOVERNORS' H.9 RELEASE. " RATES ON LONu-TERM GOVERNMENT SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST. LOUIS. 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 455 BILLIONS 450 439. 1 445 441.6 440.7 441.3 440 435 430 425 420 415 410 405 400 395 390 385 380 3 17 31 14 28 12 26 APR 9 23 7 21 4 18 1 15 29 13 27 10 24 MAY OCT 8 22 NOV 5 19 2 16 2 16 30 13 27 11 25 JAN FEB MAR 1977 1976 APR MAY LATEST DATA PLOTTED WEEK ENDING: MAY 4, 1977 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, AVERAGE OF FOUR WEEKS ENDING: 5/5/76 8/4/76 13.4 14.0 14.8 14.8 14.6 14.2 13.9 13.3 15.9 16.8 16.5 15.8 15.2 14.6 13.7 10/6/76 11/3/76 12/1/76 1/5/77 2/2/77 3/2/77 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/ 11/ 12/ 1/ 2/ 6/76 3/76 1/76 5/77 2/77 3/ 2/77 4/ 6/77 5/ 4/77 8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 18.6 17.3 16. 1 15. 1 14.3 13.2 17.2 15.7 14.6 13.8 12.6 13.9 13.0 12.5 11.3 11.6 11.4 10.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS DEMAND DEPOSIT COMPONENT OF MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 245------ --------- BILLIONS OF DOLLARS --------- ----- 245 .BILL | QNS 232. } 238.5 237.8 239.2 237.8 3 17 MAR 31 14 28 12 26 APR MAY 9 23 7 ?! JUN JUL ~4 la ] AUG SEP 15 2 2 16 OCT 2 1® 30 13 27 NOV 1976 LATEST DATA PLOTTED WEEK ENDING: MAY 4, 11 23 MAY 1977 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. DEMAND DEPOS T COMPONENT OF MONEY STOCK - TO THE AVERAGE OF FOUR WEEKS ENDING: 10/ 11/ 12/ 1/ 2/ 3/ 4/ 5/ 6/76 3/76 1/76 5/77 2/77 2/77 6/77 4/77 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING: 5/5/76 8/4/76 10/6/76 11/3/76 12/1/76 1/5/77 2/2/77 3/2/77 3.0 4.5 3.3 4.6 4.0 3.6 4. 1 5.5 6.7 4. 1 5.9 4.9 4.2 4.7 6.6 4.3 7.4 5.4 4. 3 5.0 7.5 4.8 3.2 2.3 3.6 4 4. 2 5.4 6.6 8.6 6. -0. 6 ?. ft 7.5 4 A 10.2 15.3 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS WEDNESDAY FIGURES NOT SEASONALLY ADJUSTED BILLIONS OF DOLLARS 78 ------ ----- --- 3 17 31 14 28 12 26 APR MAY 9 23 7 21 4 18 JUL AUG BILLIONS OF DOLLARS ----- ----- ----- 78 JAN APR FEB MAY 1977 LATEST DATA PLOTTED WEEK ENDING: MAY 4, 1977 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 BANKS. CERTIFICATES CERTIFICATES OF DEPOSIT OF DEPOSIT NOT SEAS. ADJ. SEAS. ADJ. 1977 MAR. APR. 2 9 16 23 30 6 13 20 MAY 27 4 60.3 60.5 60.5 60.8 61.6 61.4 60.4 59.6 59.3 59.5 62.7 62.4 62.0 61.8 62.5 62.4 61.6 61.3 61.2 61.3 1 1 18 25 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 10 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BORROWINGS FROM FEDERAL RESERVE BANKS ALL MEMBER BANKS IN THE NATION AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS 1.5 ------ ----- -- BILLIONS OF DOLLARS ---- 1-----1----- 1.5 1977 MILLIONS APR. S 17 31 MAR 13 28 12 26 APR MAY 9 23 JUN 7 21 4 18 1 JUL AUG SEP 15 29 13 27 10 24 OCT NOV 8 22 DEC 5 19 2 16 JAN FEB 1976 65 6 2 16 30 13 27 )' 25 MAR APR MAY 1977 LATEST DATA PLOTTED WEEK ENOING: MAY 11, 1977 BUSINESS LOANS ( COMMERCIAL AND INDUSTRIAL) BILLIONS OF DOLLARS 124 WEEKLY REPORTING LARGE COMMERCIAL BANKS SEASONALLY ADJUSTED ■" ' BILLIONS OF DOLLARS 124 - - 122 — 122 - - 120 1 18 116 120 —'1^ — N. — 118 _ - 1 16 \ - 114 114 — 112 112 - - 110 110 - - 108 108 - 106 102 - 98 96 106 _ COMP OUNDED ANNUAL RATE:S OF C HANGE, AVERAGE OF — THE FOUR WEEKS ENDING — MAY 4, 1977 FROM — THE FOUR WEEKS ENDING MAR. — FEB - JAN. — DEC. NOV. " AUG. ~ 100 _ WA T 2, 1977 2, 1977 5, 1977 1, 1976 3, 1976 4, 1976 1.0 5.6 3.6 2.6 4.4 6.0 O, 0.0 1 57/ O !lllll 1 1 1 1 1 1 1 1 1 1 MINI - 104 1 Q7" 1 1 1 JJ 1 1 1 1 1 1 1 1 -LLL.1 SEP OCT NOV DEC 8 22 MAR APR MAY JUN JUL AUG 1976 LATEST DATA PLOTTED WEEK ENDING: MAY 4, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ki ii 1 MAR 30 APR. 6 13 20 27 MAY 4 1 1 1 1 1 JJJJ 5 19 2 16 JAN FEB 1 in klC 117,008 117,514 117,182 116,871 116,979 117,014 1 1 1 102 _ ~ — .................................' 2 16 30 13 27 11 25 MAR 1977 APR 98 ~ MAY 1977 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 96 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 580 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING MAY 4, 1977 FROM THE FOUR WEEKS ENDING: CREDIT CREDIT PROXY ■Ebqxy- 570 A&jysia; 560 550 1976 CREDIT PROXY ADJUSTED 1/ 540 530 = 520 BILL LQNS. CREDIT PROXY CREDIT PROXY CREDIT ■fRQXY- MAR. APR. 3 17 31 14 28 12 26 9 23 7 21 1 15 29 13 27 10 24 6 22 JUL AUG 1976 LATEST DATA PLOTTED WEEK ENDING: MAY 4, ADJUSTED 533.7 539.3 539.3 540.0 537.8 537.3 5 19 2 16 2 541.1 546.7 547.1 547.9 545.6 544.5 16 30 13 27 500 11 25 1977 1977 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 N0NDEP03IT SOURCES. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS