Full text of U.S. Financial Data : Week Ending: May 5, 1976

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Week ending: May 5, 1976

DEC 2 6 1979


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Since mid-January the monetary base has increased at
an 11.8 percent annual rate, compared to a 6 percent rate of
increase over the previous nine months. The monetary base can
be used either as currency or as reserves to support bank
deposits. Monetary base used as reserves can support a larger
amount of the money stock than a similar amount of the base
used as currency. Both of these uses of the monetary base have
exhibited faster growth rates over the most recent three months
than over the previous nine months. Currency has increased at
a 15.4 percent annual rate since mid-January, compared to an
8.7 percent rate from mid-April 1975 to mid-January 1976;
reserves have risen at a 6.2 percent annual rate, compared
to a 1.7 percent rate over the previous period.

Reflecting the more rapid growth in the amount
of base held by banks, the various categories of bank deposits
have generally increased more rapidly since mid-January.
Demand deposits have expanded at an 8.4 percent annual rate in
the most recent three months, compared to a 3.7 percent rate
in the previous nine-month period. Time deposits other than
large certificates of deposit have grown at about a 16 percent
annual rate since mid-January, compared to a 12.5 percent rate
of increase in the earlier period. However, large CDs have
continued to decline, decreasing by $8.9 billion since January,
after the $8.1 billion decline over the previous nine months.
Measures of the money stock, which are constructed by
combining these measures of currency and bank deposits, have also
increased more rapidly over the most recent 13 weeks. Ml, which
consists of currency and demand deposits, has increased at about
a 10 percent rate recently, in contrast with about a 5 percent
rate of increase registered in the previous period. M2, con­
sisting of currency, demand deposits and time deposits other than
large CDs, has grown at a 13.4 percent rate since mid-January,
up from about a 9 percent rate of increase in the previous nine
months.

Prepared by Federal Reserve Bank of St. L
Released: May 7,

MONETARY BASE

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
126

MILLIONS

124

122

120

118

116

114

3 19

2 II 3Q 14 21 11

MAY

29

JUN

9 23

6 20

AUG
1975

3 17

1

15 29 12 26 10 24

SEP

7 21

4 IS

JAN

FEB

3 17 31

14 Z« 12 M

APR

MAY

1976

LATEST DATA PLOTTED WEEK ENDING. MAY 5, 1976
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.

COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING:
5/7/75

8/6/75

10/8/75

11/5/75

12/3/75

7.9
7.4
8.2
7.6
6.4
7.6
7.6
7.8

6.2
7.9
7. 1
5.3
7.2
7.2
7.6

9.0
7.3
4.5
7.3
7.3
7.8

8.4
4.5
7.9
7.8
8.3

0.7
6.2
6.6
7.3

1/7/76

2/4/76

3/3/76

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
10/
11/
12/
1/
2/
3/
4/
5/

8/75
5/75
3/75
7/76
4/76
3/76
7/76
5/76

2

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

7.3
7.4
8.2

12.9
12.2

8.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MULTIPLIER 1/
ADJUSTED FEDERAL RESERVE CREDIT 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

RATIO

MULTIPLIER

RATIO
APR.

LATEST DATA PLOTTED WEEK ENDING: APRIL 28, 1976
BILLIONS OF DOLLARS
116 ---------- .------------- .-----

BILLIONS OF DOLLARS
------------------------------- 116

COMPOUNDED ANNUAL RATES
-----OF CHANGE. AVERAGE OF
_ THE FOUR *EEKS ENDING
MAY 5, 1976 FROM
-----THE FOUR WEEKS ENDING:
” MAR.
—’FEB.
_ JAN.
DEC.
— NOV.
- AUG.
MAY

11.9
.
6.
7.

....
1975
1975

...
8.4
8.4

ADJUSTED FEDERAL RESERVE CREDIT

SIS.
MAR.

5 18

2 16 SO 14 28 It 25

9 23

6 20
AUG

3 17
SEP

1 15 29 12 26 10 24

7 21
JAN

4 18
FEB

MILLIONS

31 1

3 17 31

14 28 12 26
APR
MAY

1976
LATEST DATA PLOTTED WEEK ENDING: MAY 5, 1976
1/ RATIO OF MONEY STOCK (Ml 1 / MONETARY BASE.
2/

CREDIT CONSISTS OF FEDERAL RESERVE HOLDINGS OF SECURITIES, LOANS FLOAT
^COTHER 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
T10 CHANGES AND SHIFTS IN THE §AME 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 SY FEDERAL RESERVE BANK OF ST. LOUIS

3

MONEY STOCK PLUS NET TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
695

BiJLLi QN£
Z

MAR

681.0
683.2

Z

APR

686.6

690
685

691.1
690.7
691.6

680
675
670
665
660
655
650
645
640
635
650
625
620

SI*

2 II 10 M » 11

MAY

29

JON

8 23

6 20

AUG
1975

9 12

1

13 29 12 26 10 24

3 17 31

4 IS

SEP

14 26 12 26

APR

MAY

1976

LATEST DATA PLOTTED WEEK ENDING] APRIL 28, 1976
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]
4/30/75

7/30/75

10.2
9.4
9.8
8.9
9.1
9.7
9.6
10. 1

5. 1
6.8
6.0
6.8
8.0
8. 1
8.9

10/1/75 10/29/75 11/26/75 12/31/75

1/28/76

2/25/76

TO THE AVERAGE
OF FOUR WEEKS
ENDING]
10/ 1/75
10/29/75
11/26/75
12/51/75
1/28/76
2/25/76
3/31/76
4/28/76

4

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

8.6
6.5
7.5
9.2
9. 1
10. 1

7.4
8.4
10.3
9.9
10.9

6.6
9.6
9.4
10.6

13.7
1 1.8
12.8

12. 1
13.4

12.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0

MONEY STOCK

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
310 ---------- 1------------- 1-----

BILLIONS OF DOLLARS
-------- --------------------- 310

BILLIONS
297.3
298.6
300.0
303.3
303.6
302.8

5 1*

2 16 90 14 28 11 25

• 23

6 20

9 17

1

19 29 12 26 10 24

7 21
JAN

1975

4 16
FEB

3 17 31 14 28 12 26
APR
MAY
1976

LATEST DATA PLOTTED WEEK ENDING. APRIL 28, 1978
CURRENT DATA APPEAR

IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

T»« MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AND COIN HELD BY THE NONBANK PUBLIC.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGs
4/30/75
7/30/75 10/1/75 10/29/75 11/26/75 12/31/75 1/28/76 2/25/76
TO THE AVERAGE
OF FOUR WEEKS
ENDING.
10/ 1/75
10/29/75
11/26/75
12/31/75
1/28/76
2/25/76
3/31/76
4/28/76


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

7.4
6.0
6.7
5.3
4.9
5.2
5.3
6. 2

2.1
4.3
2.6
2.5
3.2
3.5
5.0

5.0
1.9
1.9
3.0
3.5
5.4

3.4
2.9
4.0
4.4
6.4

-0.8
1.8
2.9
5.5

4.7
5.1
8.1

6.6
10. 1

1 1.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
10.5 i—

PERCENT
—i 10.5

10.0

10.0

9.5

9.5
CORPORATE Aaa BONDS

9.0

9.0

0.5

8.5
PRIME BANK
LOAN RATE

8.0

8.0

7.5

7.5

7.0

7.0
MUNICIPAL
BONDS mm

6.5

6.5

6.0

6.0
COMMERCIAL PAPER

5.5

5.5

5.0

5.0

90 DAY CD*SHOOK
4.5

4.5

4.0

4.0

ft
111

7 21
MAR

-L

4 )• 2 16 30 13 27 11 23
6 22 5 IB
APR MAY
JUN
JUL
AUG
SEP
1975

_LL
3 17 31 14 28 12 26 9 23
OCT
NOV
DEC
JAN

6 20
FEB

5 19
MAR
1976

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi MAY 7,

1976
MAR.

5
12
19
26
APR.
2
9
16
23
30
MAY
7 *
14
21
28

2 16 SO 14 28
APR
MAY
1976

90 DAY
CD‘SHOO!

PRIME
COMMERCIAL
PAPER
4-6 MONTH

PRIME
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

MUNICIPAL
BONDS HK

5.32
5.41
5.38
5.27
5.19
5.20
5.10
5.04
5.13
5.20

5.38
5.38
5.45
5.35
5.30
5.38
5. 19
5.13
5.15
5.25

5.26
5.21
5.19
5.12
5.10
5.05
5.01
4.94
5.07
5.19

8.55
8.55
8.54
8.50
8.46
8.42
8.36
8.36
8.41
8.46

7.04
6.98
6.92
6.72
6.69
6.65
6.54
6.55
6.55
N. A.

* AVERAGES OF RATES AVAILABLE.
HOE BOND BUYER1S AVERAGE INDEX OF 20 MUNICIPAL BONOS, THURSDAY DATA.
HOOf 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-MONTH TREASURY
BILL MARKET YIELD

DISCOUNT RATE

FEDERAL FUNDS RATE

7 21
MAR

4 IB 2 ]« 30 13 27 11 25 B 22
APR MAY
JUN
JUL
AUG

5 18
SEP

3 17 51 14 28 12 26 8 2
OCT
NOV
DEC
JAN

FEB

1975

MAR
1976

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt

1976
MAR.

5
12
19
26

APR.

2

MAY

9
16
23
30
7
M
21
28

FEDERAL
FUNDS BOB

5-MONTH
TREASURY
BILLS

1-YEAR
TREASURY
BILL

3-5 YEAR
GOVERNMENT
SECURITIES

LONG-TERM
GOVERNMENT
SECURITIES

4.95
4.86
4.77
4. 79
4.84
4.73
4. 77
4.78
4.93
5 * 03

5.20
4.99
4.98
4.87
4.97
4.91
4.80
4.78
4.88
4.87

5.98
5.86
5.82
5.67
5.76
5.59
5.36
5.47
5.61
5.66

7.36
7.30
7.25
7.14
7.14
7.04
6.88
6.92
7.04
7.07

6. 96
6. 91
6. 89
6 80
6. 78
6.72
6.65
6.70
6. 80
6.85

* AVERAGES OF RATES AVAILABLE.

"SSS*»«

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

«»»■
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

NET TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

1915.

BILLIONS OF DOLLARS
395

BILLIONS
390
384.5
386.6
387.8

385

388.8
380
375

370

365

360

355
350
345
340

5 19

2 II 90 14 21 !1

MAY

25

JUN

8 23

6 20

AUG
1975

3 17

1

13 28 12 26 10 24

7 21

4 18

3 17 31

SEP

14 Z« 12 26

APR

MAY

1976

LATEST DATA PLOTTED WEEK ENDING. APRIL 28. 1976
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 8100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.

NET TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
4/30/75

7/30/75

12.6
12.2
12.4
11.8
12.5
13.6
13.3
13.4

7.6
8.9
8.9
10.3
12. 1
11.9
12.2

10/1/75 10/29/75 11/26/75 12/31/75

1/28/76

2/25/76

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
10/ 1/75
10/29/75
11/26/75
12/31/75
1/28/76
2/25/76
3/31/76
4/28/76

8

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

1 1.8
10.5
12.4
14.6
13.9
14.0

10.7
13. 1
15.6
14.5
14.6

13.0
16.3
14.8
14.8

21.5
17.3
16.7

16.7
16.1

12.6

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
235

BILLIONS
MAR.
_

APR.

221.5

222.8

223.8
226.4
225.5

230

225

220

215

5 19

2 1C 90 M 28 11 25

9 28

6 20
AUG
1975

5 17
SEP

LATEST DATA PLOTTED WEEK ENDING. APRIL 28,
CURRENT DATA APPEAR

1

15 29 12 20 10 24

7.1
5.1
6.0
4. 1
3.7
3.8
3.8
4.9

0.4
2.9
0.8
0.7
1.3
1.6
3.2

5 17 51 14 2« 12 It
MAY
APR
1976

H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE,
7/30/75

4 14

1978

IN THE BOARD OF GOVERNORS’

4/30/75

7 21

AVERAGE OF FOUR WEEKS ENDING.

10/1/75 10/29/75 11/26/75 12/31/75

1/28/76

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
10/ 1/75
10/29/75
11/26/75
12/31/75
1/28/76
2/25/76
3/31/76
4/28/76


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

3.0
-0.7
-0.4
0.6
1.2
3.3

1.3
1.1
2.0
2.4
4.7

-3.3
-0.9
0.4
3.4

2.7
3. 1
6.5

4.3
8. 4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
BILLIONS OF DOLLARS

N0T

WEDNESDAY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
90
88

86
84
82
80
78
76
74
72
70
68
66

5 19

2 18 30 14 20 11 25

9 23

0 20

5 17

1 15 29 12 20 10 24

7 21
JAN

1975

4 10

3 17 31

14 26 12 26

0

FEB
1976

LATEST DATA PLOTTED WEEK ENDING: APRIL 28, 1976
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 0100,000 OR MORE BY LARGE
WEEKLY REPORTING COMMERCIAL BANKS.

1976
MAR.

APR.

MAY

3
10
17
24
31
7
14
21
28
5
12
19
26

CERTIFICATES CERTIFICATES
OF DEPOSIT
OF DEPOSIT
NOT SEAS. ADJ.
SEAS. ADJ.
71.3
71.1
71.6
72.0
72.4
71.5
69.9
68.6
67.6

73.8
73.0
73.0
73.0
73.3
73.2
72.0
70.8
69.7

PREPARED BY FEDERAL RESERVE BANK OF ST,

10

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

OUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
ALL MEMBER BANKS IN THE NATION
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
---------1---------- 1---------- 2-0

2. 0 ------- ---------- ----

1976

MILLIONS

MAR. 31

5 IB

2 16 30 14 21 II M 9 23

MAR

APR

MAY

JUN

JUL

6 20 3 17

AUG
1975

SEP

LATEST DATA PLOTTED VCEK END I NOi MAY 5,

1

13 29 12 26 10 24

OCT

NOV

DEC

7 21

4 16

3 17 31

JAN

FEB

MAR
1976

14 29 12 26

APR

MAY

1976

BUSINESS LOANS

BILLIONS OF DOLLARS

( COMMERCIAL AND INDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
190
129
126
124
122
120
119
116
114
112
110
MILLIONS

MAR. 24

5 19

H 18 30 14 28 11 25

9 23

6 20
AUG
1975

3 17
SEP

LATEST DATA PLOTTED WEEK ENDINGi APRIL 28,

1 15 29 12 26 10 24

7 21
JAN

4 16
FEB

—

106

-

104

3 17 31 14 26 12 26
APR
MAY

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

FEDERAL RESERVE BANK OF ST. LOUIS
P. O. BOX 442
ST. LOUIS, MISSOURI 63166

FIRST CLASS MAIL
U. S. POSTAGE

PAID

RETURN POSTAGE GUARANTEED'


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Federal Reserve Bank of St. Louis

PERMIT 444

fIRST CLASS IllflIL

MEMBER BANK DEPOSITS
SUBJECT TO RESERVE REQUIREMENTS
(CREDIT PROXY )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
550 =--------,------------- ,------

BILLIONS OF DOLLARS
--------- ----------- -------- =3 550 -

COMPOUNDED AKMUAL RATES OF CHANGE,
AVERAGE OF THE FOUR WEEKS ENDING

CREDIT
PROXY
25,
28,
31,
26,
29,
30,
30,

CREDIT
PROXY
ADJUSTED

1976
1976
1975
1975
7975
1975
1975

--------------------------

2.0
2,2
2-0
1.7
5.6
3-3
3-4

______ _______ ______ __________
CREDIT PROXY ADJUSTED 1/
l.

CREDIT PROXY
■ILUQNS
CREDIT
PROXY
ADJUSTED

CREDIT
PROXY
507.4
507.0
510.2
510.7
511.4

S 10

111!

2 16 30 14 28 11 25

9 23

0 20

3 17

J-LLilLL
1

15 ;»9 12 26 10 24

7 21

1975
LATEST DATA PLOTTED *E£K ENDING* APRIL 28,

515.9
515.3
517.3
519.5

lLlll
3 17 31

14 28 12 26

1976
1976

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.U RELEASE.

paper-

eurodollar

B0RR0W'N“

of

PFIEPARED BY FEDERAL RESERVE BANK OF ST. LOUIS