Full text of U.S. Financial Data : Week Ending: May 14, 1980
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
’ - *—--------------------------------------------------------------------------------------------------- ------------------------------------------------------------------------- F/A<4/VC://1 JL £D^\T^\ Week ending: May 14, 1980 UBF?AHV The 3 percent surcharge on the basic discount rate of 13 to* ®pSr t*m — a surcharge that applied only to banks with deposits in excess of $500 minion — was rescinded May 7, 1980. This surcharge, which was applicable only when a member bank borrowed during two successive statement weeks or in more than four weeks during a calendar quarter, effectively reduced the differential between the federal funds rate and the discount rate during April. In the past, movements in this differential tended to influence member bank borrowing. For example, the average spread between the federal funds rate and the discount rate during March was 419 basis points, and member bank borrowing averaged $2.8 billion. During April, when the 3 percent surcharge was in effect, the average differential was 161 basis points, and member bank borrowing fell to an average of $2.4 billion. After reaching a peak of 19.39 percent in the week ending April 2, the federal funds rate as well as other short-term interest rates declined sharply. More specifically, the federal funds rate fell about 850 basis points to a level of 10.86 percent in the most recent week. This dramatic decline in the federal funds rate has resulted in a negative federal funds rate/discount rate differential during the past two weeks. For instance, during the week ending May 14, the spread between the federal funds rate and the discount rate was a negative 214 basis points. This negative differential represents the first time that the federal funds rate has been below the prevailing discount rate in about three years — since the week of May 13, 1977. In general, member bank borrowing is substantially lower during periods when the federal funds rate is below the discount rate. For instance, during the month of April 1977, the federal funds rate/discount rate spread averaged a negative 52 basis points and borrowings averaged about $73 million. As noted above, the spread averaged a positive 161 basis points in April 1980 and borrowings averaged $2.4 billion. With a negative federal funds rate/discount rate differential in the past two weeks, member bank borrowing has declined to about $1 billion. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Released: May 16, 1980 2 ADJUSTED MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS BILLIONS OF DOLLARS 160 BILLIONS 157.3 57.0 158.1 157.5 157.8 157.3 156 154 FEB LATEST DATA PLOTTED WEEK ENDING: MAY 14. MAR 1980 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 C01AIERCIAL 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, 5/16/79 AVERAGE OF FOUR WEEKS ENDING: 8/15/79 10/17/79 11/14/79 12/12/79 1/16/80 2/13/80 7.4 5.8 5.6 6.9 6.3 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/17/79 1 1/14/79 12/12/79 1/16/80 2/13/80 3/12/80 4/16/80 5/14/80 10.2 9.5 9.2 9. 4 8.8 9.0 8.4 8.2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9. 1 8.6 9. 1 8.2 8.6 7.9 7.6 6.6 8. 1 7.0 7.8 7.0 6.7 9.0 7.3 8.2 7. 1 6.8 7.4 8.6 7. 1 6.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS ADJUSTED BANK RESERVES AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS v BILLIONS OF DOLLARS 52 BILLIONS APR. 48.3 48.4 48.5 49.2 47.9 47.7 I I I I NOV DEC 1979 LATEST DATA PLOTTED WEEK ENDING: MAY 7. 1980 1/ ADJUSTED MONETARY BASE LESS CURRENCY HELD BY THE NONBANK PUBLIC (MEMBER BANK RESERVES AT FEDERAL RESERVE BANKS ( + ) CURRENCY HELD BY COMMERCIAL BANKS). ADJUSTED BANK RESERVES COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF FOUR WEEKS ENDING: 5/9/79 8/8/79 10/10/79 11/7/79 12/5/79 /9/80 2/6/80 3/5/80 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/10/79 11/ 7/79 12/ 5/79 1/ 9/80 2/ 6/80 3/ 5/80 4/ 9/80 5/ 7/80 6.4 7.6 7. 4 9.0 6.8 7.3 7.2 6.6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8.0 7.5 10.0 6.6 7.3 7.2 6.4 10.2 13.5 7.4 8.2 7.9 6.8 12.9 5.2 6.7 6.7 5.6 5.0 7.0 6.9 5.6 0.0 2.5 1.9 8.8 6.0 3.7 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---------- 1-------- BILLIONS OF DOLLARS ------------------- ----------- 385 BILLIONS _ APR. _ 374.6 373.2 370.9 368.3 365.4 371.2 — MAY 4 MAR 18 APR 2 16 MAY 30 13 27 JUN II JUL 25 8 22 AUG 1979 5 19 3 SEP LATEST DATA PLOTTED WEEK ENDING: MAY 7. 17 31 OCT 1 28 NOV 12 26 DEC 9 23 JAN 6 20 5 FEB MAR 1980 19 2 16 30 14 28 1980 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. M'A CONSISTS OF CURRENCY AND COIN PLUS COMMERCIAL 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, 5/9/79 8/8/79 10/10/79 11/7/79 AVERAGE OF FOUR WEEKS ENDING: 12/5/79 1/9/80 2/6/80 3/5/80 1.4 -4.6 -10.0 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/10/79 11/ 7/79 12/ 5/79 1/ 9/80 2/ 6/80 3/ 5/80 4/ 9/80 5/ 7/80 7.7 7.0 6.3 6.7 6.4 6.6 5. 4 3.5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -J?._______.I'V 5.4 4.6 5.7 5.3 5.7 4.3 1.9 2.5 5. 1 4.6 5.4 3.5 0.5 6. 1 5.2 6.0 3.6 0.2 6.6 7.2 4.0 -0.2 5.9 1.9 -2.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK (M1B ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 400 billions 391.9 391.1 389.3 386.8 383.0 388.6 2 16 30 13 27 JUN It 25 8 22 5 IB 3 17 31 JUL M 28 12 26 NOV LATEST DATA PLOTTED WEEK ENDING: MAY 7, 9 23 DEC 1980 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. MlB CONSISTS OF MIA PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITARY INSTITUTIONS. MONEY STOCK (MIB ) COMPOUNDED ANNUAL RATES OF CHANGE, 5/9/79 8/0/79 10/10/79 AVERAGE OF FOUR WEEKS ENDING: 11/7/79 12/5/79 6.8 5.7 6.4 4.4 1.3 7.4 7.8 5.0 1 . 1 1/9/80 2/6/80 3/5/80 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/10/79 11/ 7/79 12/ 5/79 1/ 9/80 2/ 6/80 3/ 5/80 4/ 9/80 5/ 7/80 8.8 7.9 7. 1 7.6 7.2 7.3 6.3 4.5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5.9 5.0 6.3 5.8 6.2 5.0 2.8 2.6 5.6 5. 1 5.8 4.2 1.5 6.0 2.8 -1.6 2.5 -3.0 -7.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 6 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT 21.0 20.0 20.0 19.0 19.0 18.0 18.0 17.0 16.0 PRIME BANK LOAN RATE 15.0 14.0 90 DAY CD’S 13.0 13.0 12.0 COMMERCIAL PAPER 11.0 CORPORATE Aaa BONDS 10.0 9.0 Cl PAL 8.0 7.0 6.0 I I I I 2 16 30 13 27 II 25 8 22 6 20 3 17 31 14 28 SEP 9 23 7 21 4 DEC 12 28 OCT JAN 1979 18 I INI 15 29 14 28 II 25 MAR 1980 9 23 APR LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING-. MAY 16, I960 1980 MAR. APR. MAY 7 14 21 28 4 1 1 18 25 2 9 16 X 23 30 90 DAY CD’S PRIME COMMERCIAL PAPER KM PRIME BANKERS’ ACCEPTANCES CORPORATE Aaa BONDS CORPORATE Baa BONDS MUNICIPAL BONDS XX 16.87 17.71 17.82 17.80 18.07 17.65 16.62 14.79 12.89 10.26 9.68 16. 17 16.92 17.00 16.93 17.37 17. 19 16.03 14.19 12.31 9.92 9.30 16.59 17.24 17.22 17.29 17.51 17.12 16.06 14.39 12.46 10.02 9.53 13.00 13.00 12.83 13.00 12.95 12.57 11.87 1 1.51 11.38 10.92 10.96 14.27 14.35 14.45 14.67 14.75 14.56 14. 1 1 13.86 13.68 13.20 13. 10 8.94 9.08 9.20 9.44 9.44 9.07 7.89 8. 1 1 7.96 7. 1 1 N. A. * AVERAGES OF RATES AVAILABLE. XX BOM) BUYER’S AVERAGE INJEX OF 20 MUNICIPAL BONDS, THURSOAY DATA, mac 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 0 SELECTED INTEREST RATES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT 20.0 20.0 19.0 18.0 17.0 16.0 16.0 FEDERAL FUNDS RATE 15.0 14.0 13.0 13.0 3-MONTH v TREASURY BILL 12.0 11.0 10.0 10.0 5-YEAR TREASURY SECURITIES 9.0 8.0 I I I I II I I 2 IS 30 13 27 II 25 8 22 6 20 3 17 31 14 28 12 26 S 23 7 21 4 18 I 15 29 H 28 MAR 1980 1979 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MAY 16, 1980 MAR. 7 14 21 28 APR. 4 1 1 18 25 MAY 2 9 16 X 23 30 FEDERAL FUNDS** 3-MONTH TREASURY BILL 16. 17 16.45 16.24 17.78 19.39 19.04 18.35 17.56 15. 12 12.96 10.86 15.37 15.32 14.76 15.55 14.78 14.30 13.57 12. 18 10.47 9. 14 8.43 6-MONTH TREASURY BILL xaeK 14.79 14.96 14.95 15.70 14.80 14.23 13.55 11.89 10.79 9.49 8.78 1-YEAR TREASURY BILL 13.65 13.22 13.21 13.83 13.29 12.57 11.67 11.08 10.63 9.94 9.90 **AslvEN^DA?FAVERAGESVFORAWEEK ENOING WEDNESDAY TWO DAYS EARL IER THAN DATE CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE. RATE^ON1 LONG-TERM TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis S 23 LONG-TERM TREASURY SECURITIES 12.41 12.11 12.06 12.47 12.20 11.61 10.95 10.74 10.51 9.94 10. 18 SHOWN. BAW OF ST. LOUIS. TREASURY BILL YIELDS ON DISCOUNT BASIS. PREPARED BY FEOERAL RESERVE BANK OF ST. LOUIS 7 23 I960 5-YEAR TREASURY SECUR1T1ES 13.94 13.92 13.89 14.39 13.90 13. 11 11.97 10.80 9.99 9.00 8.65 II APR 8 MULTIPLIERS!/ CURRENCY OF MONEY STOCK MEASURES 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED 2.9 r RATIO 2.8 I— APR. MONEY MULTIPLIERS 2.6 RATIO APR. 2!486 2! 43; 2:46: 1.1 Jill LATEST DATA PLOTTED WEEK ENDING: MAY 7, I960 BILLIONS OF DOLLARS I 12 1 1------------- 1---------- 1---------- MAY 7, 980 FROM THE FOUf WEEKS END 1 4G: ----- MAR. FEB. - JAN. DEC. - 5 , 1980 6 , 1980 9 ,1980 5 ,1979 AU G. MA Y 8, 9, - - 5.J 6.1 i 8. 7.J 1979 1979 UULLnng 1 12 COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF - DILL lUIYO Ur CURRE NCY - 8.1 8. - - - - i980 APR. 21 MAR -Lll. 4 18 APR 1111 2 16 MAY 111 30 111 13 27 II JUN JUL i 11 i 25 8 22 AUG 1979 111 5 19 SEP LATEST DATA PLOTTED WEEK ENDING: MAY 7. 1111 3 17 31 OCT mi 14 28 111 NOV DEC 12 Mil 26 9 23 JAN ~ 81:1 30 7 09.6 10. 1 U 1 .1, 1 1 1 1 1 1 1 LllL MAY 7 NS m IS . £ till BILLIO g 6 20 5 19 MAR 1980 2 IB 30 APR 14 28 MAY 1980 1/ RATIO OF MONEY STOCK (MIA) OR ( MlB ) TO ADJUSTED MONETARY BASE 2/ 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 DEMAND DEPOSIT COMPONENT OF MONEY STOCK (MIA) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 285 BILLIONS 265.6 264.3 262.5 259.4 261.2 I I I I 2 MAR 16 30 APR 13 27 JUN II 2S 8 22 5 19 3 17 31 14 28 12 26 0 23 JUL 6 20 FEB 1979 LATEST DATA PLOTTED WEEK ENDING: MAY 7. 5 l! 2 16 30 14 28 MAR 1980 1980 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. DEMAND DEPOSIT COMPONENT OF MONEY STOCK ( MIA ) COMPOUNDED ANNUAL RATES OF CHANGE, 5/9/79 8/8/79 10/10/79 11/7/79 AVERAGE OF FOUR WEEKS ENDING: 12/5/79 /9/80 2/6/80 3/5/80 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/10/79 11/ 7/79 12/ 5/79 1/ 9/80 2/ 6/80 3/ 5/80 4/ 9/80 5/ 7/80 6.3 5.5 5. 1 5.7 5. 1 5.4 3.9 1.4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3.3 3.0 4.5 3.8 4.4 2.5 -0.7 1.7 4.8 3.7 4.5 2.0 -2.0 6.3 4.3 5.2 2.1 -2.6 5.4 6.2 2. 1 3.4 4.0 - 0.8 - 7.0 -1 . 1 -9.0 -15.7 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 10 SAVINGS PLUS SMALL TIME DEPOSI TS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 455 BILLIONS _ APR. Z MAY 450 443.8 446.3 446.2 446.2 446.2 447.8 445 435 430 JUN JUL NOV DEC FEB MAR 1979 LATEST DATA PLOTTED WEEK ENDING: MAY 7, I960 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. TI ME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 1100,000. SAVINGS PLUS SMALL TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE 5/9/79 8/8/79 10/10/79 AVERAGE OF FOUR WEEKS ENDING: 11/7/79 2/5/79 7.6 8.0 8.0 7.8 8.0 7.0 7.3 7.2 7.6 1/9/80 2/6/80 3/5/80 TO THE AVERAGE OF FOUR WEEKS END 1NG: 10/10/79 11/ 7/79 12/ 5/79 1/ 9/80 2/ 6/80 3/ 5/80 4/ 9/80 5/ 7/80 10.8 9.9 10.0 9.3 9.3 9.2 8.9 9.0 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7. 1 7.8 7.3 7.5 7.6 7.5 7.7 7.8 7.0 7.4 7.5 7.4 7.7 8.3 7.8 8.2 7.5 8. 1 8. 1 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 1980 BILLIONS OF DOLLARS MILLIONS 2276 2555 1329 2 16 30 13 27 JUN II 25 8 22 5 19 3 17 31 JUL M NOV LATEST DATA PLOTTED WEEK ENDING-. MAY H, 28 12 26 9 23 6 20 5 FEB DEC MAR 19 2 16 30 14 28 1980 BUSINESS LOANS (COMMERCIAL AND BILLIONS OF DOLLARS INDUSTRIAL) WEEKLY REPORTING LARGE COMMERCIAL BANKS SEASONALLY ADJUSTED BILLIONS OF DOLLARS 164 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF ' “ THE FOUR WEEKS ENDING “MAY 7. 1980 FROM ' THE F6UR WEEKS ENDING: MAR. — FEB. I960 162 160 158 -5. I 156 1980 _ DEC. 8, 9, 154 1979 1979 1979 152 150 148 146 144 142 MILLIONS APR. 2 161,535 1 60,667 160,203 159,785 159,073 157,970 -LLU-LLU J. 1 1 I 1 I I 1 FEB LATEST DATA PLOTTED WEEK ENDING: MAY 7, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MAR 1980 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 140 138 136 134 132 0 12 LARGE TIME DEPOSITS ALL COMMERCIAL BANKS SEASONALLY ADJUSTED DOLLARS LLIONS OF DOLLARS ILLIONS APR. 5 IB LATEST DATA PLOTTED WEEK ENDING-. MAY 7, 3 17 31 14 28 12 26 NOV DEC 9 23 6 20 FEB 5 19 MAR I960 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE. TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
@FedFRASER