Full text of U.S. Financial Data : Week Ending: May 3, 1978
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Week ending: May 3, 1978 LIBRARY DEC " S 197? Interest rates have risen sharply in the past two weeks, as indicated in the table below. The largest increases have been in short-term interest rates. The Federal funds rate rose 49 basis points from the average of the week ending April 21 of this year to the average of rates available this week. The Federal funds rate had fluctuated within a narrow range around 6.75 percent since the beginning of the year (see page 7). SELECTED INTEREST RATES Period (Average of Rates for Week Ending) 3-5 Year Treasury Securities Long-Term Treasury Securities 6.93 7.87 8.20 6.39 7.15 8.01 8.29 +0.17 +0.22 +0.14 +0.09 3-Month Treasury Bills Federal Funds 90 Day CD's April 21 6.78 6.94 6.22 May 5* 7.27 7.24 Change +0.49 +0.30 1-Year Treasury Bill * Average of rates available. From early this year until the week ending April 21 the spread between the Federal funds rate and the discount rate remained at about 25 basis points. Member bank borrowings from Federal Reserve Banks were about $500 million at the start of this year and drifted downward to an average of $275 million in the four weeks ending April 19. As the spread between the Federal funds rate and the discount rate has widened (to about 75 basis points in the most recent week) member bank borrowings have risen sharply, averaging $1.7 billion in the week ending May 3. This pattern is similar to that of mid-August and mid-October of last year — when the Federal funds rate rose sharply, the spread between the funds rate and the discount rate widened to about 75 basis points, and member bank borrowings surged upward. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Released. May 5, 1978 MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS 138 ------ 1-----,-19Z& __MAR. BILLIONS OF DOLLARS -- ----- ------ 138 BILLIONS 133.5 133.4 133.4 134. 1 133.8 134.6 — MAY 2 16 30 13 27 11 APR 25 22 6 20 3 17 31 H 28 12 26 MAY 9 23 7 21 4 18 1 DEC JAN FEB 15 1 15 29 12 26 10 24 1678 LATEST DATA PLOTTED WEEK ENDING: MAY 3, 1978 THE MONETARY BASE CONSISTS OF MEMBER RESERVES FEDERAL RESERVE ranks AMI ADJ rilRRFWTY IN CIRCULATION (CURRENCY HELD BY THE BANK PUBLIC AND IN AT THE THE VAULTS OF COMMERCIAL BAMCS) uItfd FOR RESERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE SAME TYPE OFDEPOSITS BETWEEN BANKS ccnciAp DciciwJ RESERVE REQUIREMENT RATIOS APPLY. THE MAJOR SOURCES OF THE MONETARY BASE ARE FEDERAL RESERVE AND BASE THE GOLD STOCK. DATA BY THIS BANK BANK OFA sf! DFTAltFn SCRIPTION OF THE CREDIT MONETARY IS AVAILABLE FROMARE THE COMPUTED FEDERAL RESERVE LOUIS?IN MONETARY BASE COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 5/4/77 8/3/77 10/5/77 11/2/77 11/30/77 1/4/78 2/1/78 3/1/78 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/ 5/77 11/ 2/77 11/30/77 1/ 4/78 2/ 1/78 3/ 1/78 4/ 5/78 5/ 3/78 2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8.9 9.0 8.9 8.9 9.5 9.6 9.0 8.9 9.2 9.0 9. 1 9.9 10.0 9. 1 9.0 9.0 9.1 10.4 10.4 9.1 9.0 8.9 10.7 10.6 9.1 8.9 11.7 11.3 9.2 9.0 12.6 9.2 8.9 6.8 7.2 5.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MULTIPLIER*/ ADJUSTED FEDERAL RESERVE CREDIT*/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO RATIO 2.9 2.8 2.8 2.8 2.7 2.7 MULTI PLIER 2.6 2.6 2.5 2.5 2.4 2.4 2.5 ’ 2.2 ' 5JJ I 1 J1 1 -LI 1 JJ 1 J -I 1 1 -1II1 1 1 1 -LJ..J Jill 1 \ LATEST DATA PLOTTED WEEK ENDING: APRIL 26, 1978 U378 . 22 APR . *5 12 i§ RATH1 MAR 2.3 a ) — 2.2 3 —LL.JL i Mill 1 J 1 1 J 1 1 Llli_lb BILLIONS OF DOLLARS 120 ------ ■-----,-- BILLIONS OF DOLLARS -- ----- ------ 120 COMPOUNDED ANNUAL RATES — OF CHANGE. AVERAGE OF THE FOUR WEEKS ENDING 1978 1978 FEB. ADJUSTED FEDERAL RESERVE CREDIT -- AUG. _ MAY 137& BILLIONS MAR. 2! MAR APR MAY JUN JUL AUG SEP OCT 1977 LATEST DATA PLOTTED WEEK ENDING: MAY 3, 1978 NOV DEC 4 18 1 15 1 15 29 12 26 10 24 JAN FEB 1/ RATIO OF MONEY STOCK (Ml ) / MONETARY BASE. 2/ andEother^assets?^Eadjusted'federalPreserve^cred/t isLco£puted ^CsuBTRAct.J^A^J.L^T WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY? http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis DATaIEI COMPUTEd'bY TWSBhS?** 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 BILLIONS OF DOLLARS 835 BILLIONS MAR. 22 830 821.6 821.9 823.7 825 -3 820 827.7 829.4 -g 815 810 805 800 795 790 785 780 775 770 785 760 755 750 2 16 30 19 27 APR 11 25 8 22 6 20 3 17 31 MAY 14 28 12 26 SEP 9 23 7 21 OCT 4 18 JAN 1 15 1 15 29 12 26 10 24 FEB 1977 1978 LATEST DATA PLOTTED WEEK ENDING: APRIL 26, 1978 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. MONEY STOCK PLUS NET TIME DEPOSITS (M2) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 4/27/77 7/27/77 9.2 9.4 8.8 8.3 8.5 8. 1 7.9 8. 1 9.2 8.2 7.6 8.0 7.5 7.2 7.6 9/28/77 10/26/77 11/23/77 12/28/77 1/25/78 3/1/78 TO THE AVERAGE OF FOUR WEEKS ENDING: 9/28/77 10/26/77 11/23/77 12/28/77 1/25/78 3/ 1/78 3/29/78 4/26/78 4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7.7 6.9 7.6 7.P 6.1 7.3 5.4 6.8 6.3 6.1 6.8 7.6 6.6 6.3 7.1 7. 1 6.5 7.6 5.0 6.8 8. 1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 0 MONEY STOCK ( Ml ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 350 BILLIONS 341.3 341.8 344.0 345 346.4 340 335 330 325 320 315 2 16 30 13 27 11 APR 25 8 22 6 20 3 17 31 14 28 12 26 MAY 8 23 DEC 4 18 1 JAN FEB 15 1 15 28 12 26 10 24 LATEST DATA PLOTTED WEEK ENDING: APRIL 26, 1978 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 (Mi ) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 4/27/77 7/27/77 9/28/77 10/26/77 11/23/77 12/28/77 1/25/78 3/1/78 TO THE AVERAGE OF FOUR WEEKS ENDING: 9/28/77 10/26/77 11/23/77 12/28/77 1/25/78 3/ 1/78 3/29/78 4/26/78 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7.4 8,0 6.9 6.8 7.3 6.4 6. 1 6.9 9. 1 6.8 6.7 7.4 6.2 5.8 6.9 5.4 5.8 7.1 5.4 5.0 6.6 3.3 5.7 4. 1 3.9 5.8 8.6 5.4 4.8 7.0 4.9 4.2 7.2 1.2 5.9 9.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT 10.0 r— — 10.0 9.5 9.5 9.0 9.0 8.5 8.5 CORPORATE Aaa BONDS 8.0 8.0 7.5 7.5 7.0 PRIME BANK LOAN RATE 7.0 90 DAY CD'SJBBi 6.5 6.5 COMMERCIAL PAPER MUNICIPAL BONDS** 6.0 6.0 5.5 5.5 5.0 5.0 4.5 4.5 0 4 18 1 15 29 13 27 10 24 MAR APR MAY JUN 8 22 JUL 5 19 AUG 1977 2 16 30 14 SEP OCT 26 11 25 © 25 NOV DEC 6 20 5 17 3 17 31 14 28 12 26 JAN FEB MAR 1978 APR MAY LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MAY 5, 1978 1978 MAR. 3 10 17 24 31 APR. 7 14 21 28 MAY 5 X 12 19 26 90 DAY CD’S xe&£ PRIME COMMERCIAL PAPER 4-6 MONTH ACCEPTANCES CORPORATE Aaa BOWS MUNICIPAL BONDS mt 6.88 6,87 6., 83 6.84 6.86 6.95 6,99 6.94 7.14 7.24 6.80 6.79 6.79 6.80 6.80 6.83 6.85 6.86 6.91 6.99 6.80 6.80 6.80 6.76 6.80 6.85 6.84 6.92 7.06 7.16 8.49 8.48 8.45 8.45 8.48 0.53 8.56 8.57 8.59 8.60 5.63 5.58 5.58 5.59 5.69 5.76 5.74 5.79 5.89 N. A. PRIME BANKERS’ * AVERAGES OF RATES AVAILABLE. X* BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONOS, THURSDAY DATA. *ee« 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 0 SELECTED INTEREST RATES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT 8.5 --- PERCENT — 8.5 3-5 YEAR TREASURY SECURITIES FEDERAL FUNDS RATE DISCOUNT RATE y V x 'A J_L THREE-MONTH TREASURY BILL MARKET YIELD ✓ J_L 4 18 1 MAR APR 111 15 29 13 27 10 24 MAY JUN J_L 111 11 S 22 2 16 30 14 28 11 JUL 5 IS AUG 19 77 SEP I I I I ±1 OCT 25 NOV B 23 DEC 11 _LL 6 20 3 JAN 17 JJ_14 28111 12 26 3 17 31 FEB MAR APR 1978 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MAY 5, 1978 1978 MAR. 3 10 17 24 31 APR. 7 14 21 28 MAY 5 * 12 19 26 FEDERAL FUNDS JO* 3-MONTH TREASURY BILLS 1-YEAR TREASURY BILL 3-5 YEAR TREASURY SECUR1T1ES LONG-TERM TREASURY SECURITIES 6.80 6.76 6.77 6.77 6.82 6.86 6.74 6.78 7.00 7.27 6.39 6.29 6.27 6.22 6.34 6.37 6.29 6.22 6.26 6.39 6.84 6.81 6.80 6.77 6.89 6.94 6.91 6.93 7.06 7.15 7.78 7.77 7.72 7.71 7.83 7.87 7.87 7.87 7.98 8.01 8. 1 1 8.09 8.06 8.06 8.16 8.21 8.23 8.20 8.27 8.29 MAY * AVERAGES OF RATES AVAILABLE. ** SSISnrflfB&Trc 1^&VI8^Sy’'8.8A&!i2k!“ TH“I MTE s™“Su%LBT:\EMWSffi,TR'6I^ISS,RE CO“,UTEO *Y ™E FE0ERAL RESEBV£ ="* 0F http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ST- L0UIS- 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 495 BILLIONS 490 485 481.9 483.0 483.0 480 475 470 465 460 455 450 445 440 435 2 16 30 13 27 11 APR 25 8 22 6 20 3 17 31 14 28 12 26 0 23 7 21 MAY 4 18 1 JAN FEB 15 1 15 29 12 26 10 24 LATEST DATA PLOTTED WEEK ENDING: APRIL 26, 1978 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 6100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS. NET TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 4/27/77 7/27/77 9/28/77 10/26/77 11/23/77 12/28/77 1/25/78 3/1/78 TO THE AVERAGE OF FOUR WEEKS ENDING: 9/28/77 10/26/77 11/23/77 12/28/77 1/25/78 3/ 1/78 3/29/78 4/26/78 8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10.6 10.4 10.2 9.4 9.4 9.3 9. 1 8.9 9.3 9.2 8.2 8.4 8.4 8.3 8.1 9.2 7.6 8.0 8. 1 7.9 7.8 6.8 7.6 7.8 7.7 7.5 7.0 7.5 8.9 7.4 8,3 7.8 7.3 7.9 7.5 6.9 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 260 BILLIONS 249.8 250.3 255 253.2 253.5 255.0 250 245 240 235 2 16 30 13 27 11 APR 25 B 22 6 20 3 !7 31 14 28 12 26 9 23 4 16 1 15 29 12 26 10 24 MAY LATEST DATA PLOTTED WEEK ENDING: APRIL 26, 1976 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. DEMAND DEPOSIT COMPONENT OF MONEY STOCK COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 4/27/77 7/27/77 9/28/77 10/26/77 11/23/77 12/28/77 1/25/78 3/1/78 TO THE AVERAGE OF FOUR WEEKS ENDING: 9/28/77 10/26/77 11/23/77 12/28/77 1/25/78 3/ 1/78 3/29/78 4/26/78 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6.7 7.5 6.0 5.8 6.4 5.2 4.8 6.0 6.9 5.8 5.5 6.5 4.8 4.3 6.0 4.0 4.3 6.0 3.7 3.2 5.6 0.9 4. 1 1.9 1.6 4.6 7.7 3.5 2.8 6.1 2.8 2.1 6.6 -1.8 5.1 10.9 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS CURRENCY COMPONENT OF MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 94 ------ 1-----,--- BILLIONS OF DOLLARS --- ----- ------ 94 BILLIONS 90.9 91.0 90.9 90.8 91.2 91.4 2 16 90 13 27 II 25 APR 8 22 6 20 3 17 31 MAY 14 28 12 26 SEP OCT 0 23 7 21 4 18 DEC JAN I 15 1 .him 15 20 12 26 10 24 FEB 1978 LATEST DATA PLOTTED WEEK ENDING: APRIL 26, 1978 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. CURRENCY COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 4/27/77 7/27/77 9/28/77 10/26/77 11/23/77 12/28/77 1/25/78 3/1/78 TO THE AVERAGE OF FOUR WEEKS ENDING: 9/28/77 10/26/77 11/23/77 12/28/77 1/25/78 3/ 1/78 3/29/78 4/26/78 10 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9.3 9.6 9.6 9.8 9.9 10.0 9.9 9.6 9.7 9.7 10.0 10.1 10.3 10.1 9.7 10.2 10.6 10.6 10.7 10.5 9.8 10.4 10.5 10.6 10.3 9.6 11.0 11.0 10.6 9.7 10.9 10.3 9.3 10.1 8.8 7.4 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS BORROWINGS FROM FEDERAL RESERVE BANKS ALL MEMBER BANKS BILLIONS OF DOLLARS 2.5 iwn APR .. - MAY 1.5 5 12 19 26 3 oeo 304 172 239 809 1665 . - V . i Ly' V A -LI 1 1 -LI 1 J 1 1 9 1A *i in o MAR A p LA\r V ______ 1 0.5 cn £ 111 1.0 MILLION 1111 1SZ& _ - BILLIONS Of DOLLARS 2.5 1 'TTTT TTTT 2.0 1 APR MAY 1 1 1 1 1 1 1 jin 111 111 Jill JUN JUL AUG SEP OCT 1977 LATEST DATA PLOTTED WEEK ENDING: MAY 3, 1978 NOV 1 1 1 J-J.,1 J .1.1 DEC JAN 1.5 1.0 0.5 A V ■ 2.0 m i . -LULL. = - IN THE NATION AVERAGES OF DAILY FIGURES i i 11 J 11 JJJ 1 1 15 28 12 26 10 24 FEB MAR 1978 APR MAY BUSINESS LOANS ( COMMERCIAL AND INDUSTRIAL ) BILLIONS OF DOLLARS 132 ------ ----- -- WEEKLY REPORTING LARGE COMMERCIAL BANKS SEASONALLY ADJUSTED BILLIONS OF DOLLARS -- ----- ------ 132 _ COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF — THE FOUR WEEKS ENDING — APRIL 26, 1978 FROM — THE FOUR WEEKS ENDING: . “ MAR. — JAN. — DEC. — NOV. _ OCT. JUL. .— APR. MAR 1, 25, 28, 23, 26, 27, 27, APR 1978 1978 1977 1977 1977 1977 1977 MAY 19.4 20.8 17.8 14.1 14.1 12.4 10.8 MAR. 22 . APR. 5 ' JUL AUG SEP OCT 1977 LATEST DATA PLOTTED WEEK ENDING: APRIL 26, 1978 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis JUN ■ 4 18 DEC JAN Mill 1 15 1 15 28 12 26 10 24 FEB PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS WEDNESDAY FIGURES NOT SEASONALLY ADJUSTED BILLIONS OF DOLLARS http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BILLIONS OF DOLLARS 84 BILL1PDB MAR. 82 80.5 -- APR. 81.6 81.0 80.9 81.3 80 78 76 74 72 70 68 66 64 62 60 2 16 30 13 27 APR 11 25 8 22 6 20 3 17 31 MAY 14 28 12 26 SEP OCT 9 23 7 21 4 DEC JAN 1977 18 1 15 1 15 29 12 26 10 24 FEB 1978 LATEST DATA PLOTTED WEEK ENDING: APRIL 26, 1978 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF #100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
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