Full text of U.S. Financial Data : Week Ending: November 11, 1970

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

u.s. FinnnciHL
LIBRARY

Week ending: November 11r 1970

The money stock has increased at a 4.6 per cent
annual rate since the four weeks ending March 4, a period
of eight months. By comparison, this measure increased
at a slower 1.6 per cent rate from January 1969 to February
1970. The growth of money has not been steady since
February. For instance, from the four weeks ending March
4 to the four weeks ending June 3, money grew at a 9 per
cent rate, and in the five months since then, it has in­
creased at only a 1.9 per cent rate.
The demand deposit component of money has in­
creased at a 3.8 per cent over the past eight months,
compared with little change from January 1969 to February
1970. The currency component has increased at a 7.1 per
cent rate in the past eight months, compared with a 6.1
per cent rate in the previous 13 months.
Time deposits have increased at a 23 per cent
rate in the past eight months, following a rate of decline
at a 5.4 per cent rate from December 1968 to February
1970. L&rge certificates of deposit at large commercial
banks, the portion of time deposits most sensitive to
changes in relative yields, increased from $10.6 billion
in early January to $23.6 billion on November 4.
Large
CD's are currently about 10 per cent of total time


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

drtr

deposits, but have accounted for over 40 per cent of
the total increase in time deposits since February.
Short- and intermediate- term interest rates
have fallen sharply in recent weeks. Yields on threemonth Treasury bills averaged 5.49 per cent in the two
days ending November 10, down almost 50 basis points
from four weeks earlier and about 2-1/2 percentage
points since January. The Federal funds rate averaged
5.73 per cent for the five days ending November 11, down
about 3-1/4 percentage points from January. Over the
previous eight weeks, this rate had varied around the
discount rate. Yields on three- to five-year Government
securities averaged 6.67 per cent in the two days ending
November 10, down almost 40 basis points from the four
weeks earlier, and 1-1/2 percentage points from January.
This week the Federal Reserve announced a
decrease of 1/4 of 1 percentage point in the discount
rate at six Federal Reserve Banks including this Bank.
The decrease from 6 per cent to 5-3/4 per cent brought
the discount rate more nearly in line with other money
market rates. The discount rate had been unchanged since
April 1969.

(
Prepared by Federal Reserve Bank of St. Louis
Released .November 13,1970

MONETARY BASE H
FEDERAL RESERVE CREDIT 12
Avrogei of Daily Figwras

of Dollars
84

Annual rates of change, average of
four weeks ending November 11, 1970 from!
four weeks ending:

83
Sept. 9, 1970
Aug. 12, 1970
July 8, 1970
June 10, 1970
May 13, 19 70
Apr. 8, 1970
March 11, 1970

+ 8.®
-t 10.3

+ //.a
t- 8.H

+ h>.0

Monetary Base

t a.a

+ 8. to

81
1957-1969

79

84

Seasonally adjusted by this bank

F.R.
Credit

82

80

Billions of Dollars

+ 3,7

Uses of the monetary base are member bank
reserves and currency held by the public
and nonmember banks, adjusted for reserve
requirement changes and shifts in deposits.
For a description of the base see the August
1968 Review of this bank.

78

77

76
67

Monetary
Base
8/6,6 V

66

gl 5J<?
65

BlbSC

2/
64
Latest data plotted week ending: November li, 1970

0

I I I I I M I I I I I I I I I II 1 I I 1 i i 1 I I 1
9

23
July

6 20 3
17
Aug. Sept.


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

1
1969

15 29
Oct.

12 26
Nov.

10
24
Dec.
'

7
21
Jan.

]

.

Defined to include holdings of securities,
. ■
loans, float, and 'bther" assets, adjusted
AleV
for reserve requirement changes and changes in
requirements due to shifts in deposits among
classes of banks.
—1--1 1____L_
15 29
4
18 4
18
Feb.
Mar.
Apr.

13 27
Mav

10 24 8 ' .22
June
. July
1970 ’

5

F.R. Credit
hTHSS

iciukt
68/90
Lc~> 5S£~

<.7W

9lLJ 7
g/y
8 2955'

C.S'C.SH.

8 21 *90

iZSSS
6,8 27 k

leg

I I ■ I I I I I I I I I I I I I I
III!
19
2 16 30 14 28 11 25 9 23 6 20
Aug.
Sept .
Oct.
Nov.
Dec.
Jan.
1971

Prepared by Federal Reserve Bank of St. Louis

RESERVES
All Member Banks in the Nation
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars
30. 5

Billions of Dollars
30.5

Annual rates of change, average of four
ending November 11, 1970 from four weeks ending:

30.0

30.0

n. o

29.5

June 10, 1970
^ 8.5
March 11, 1970

29.0

28.5

28.0

28.0

27.5

27.0

26.5
TOTAL t
RESERVES -f
26.0

26.0

* Brdaks in series due to changes in
Regulations M and D effective October
16, 1969 and Regulation D effective
October 1, 1970.

25.5

7
3,8
4

Current data appear in the Board'a

ifj

25.0

H.9 ralaaaa.

Latest data plotted week endingiNovember 11, 1970

24.5
9

23

6


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

20

3

17 1 15 29
Sept.
Oct.
1969

12 26

10 24

7

21
Jan.

24.5
4

18

4 18
Mar.

1

15 29

13

27 10 24 8 22
July
June
1970

5

19
Aug.

2

16 30
Sept.

14 28

11 25

Prepared by Federal Reserve Bank of St. Iouis

9

23

6

20
Jan.
1971

0

DEMAND DEPOSIT COMPONENT OP MONEY STOCK

Averages of Daily Figures
Seasenally Adjusted

cma of Doll*,*
17.4

170

173

Annual rates of change, average of four weeks ending:

3/4/70

172
171

174

1111111ITTIH

11II11111 IlLI I1LH

173

Billion* of Dollar*

4/1/70

5/6/70

6/3/70

7/1/70

8/5/70

9/2/70

172
171

to average
of four
weeks ending:

170

169

168
167
166

5/6/70
6/3/70
7/1/70
8/5/70
9/2/70
10/7/70
11/4/70

+
+
+
+
+
+

165

163

5.8
1.8
1.7
4.8
4.0
a,3

168
+
+
+
+

o 0.5
4.6
3.7
1.8

- 2.3
+ 4.1
+ 3.1
+-o. q

167
+ 9.2
+ 6.2

166

+ 8.5

165
164

L_1 .

162

1.

161

161

L

160

160

1

L_

159

Jr

1 |

158

..
/
/

L_
V -s

156

L

\

n

155

A

154

A
JrVr

153

158

A

157

—

——

1

156

r

155
154

—

153

/ 9 7,n

152

S

-1

152

/A
.

c/ c.f

150

IJ / *
jit V
/£f. 0

151
150

V+- i 1

149

He
A3

148

3o

OCT

147
146
145
Current

0:

157

l-5(o O ^

*J

151

144

163

—r

i

162

159

+
+
+
+
+
+-

+ 3,6.

Jl
_L

164

169

9.8
8.6
4.9
4.2
6.4
5.5

■*—^—■

J
□
dsta appear ie the Board'*
1—A—-i

*

i

4 -4

1— *

1

1

149

ao.tf

/

148

t5\9,9
IS 3.9
\B

147

w
A| 15
aa 15b.*f
4 IS ft3

If

1

dV

146
145

H.6 release.

*- -f ■ *■ -1 —«>—i-A

144

Latest data plotted week ending: jNovpsnber 4. 19

■V

■J I i I- I I I I I I » i i i i t i i_ i » i :
9 23
July


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

6

20
Aug.

3 17
Sept.

i

13 29 « 26 10 24
Get.
Nov.
Dec.
1969
, .

7 21
Jan.

4

18

Feb.

4

18
Mar.

1

15 29
Apr.

13 27 10 24 8 22
May
June
July
1970

5

19
Aug.

2

16 30
Sept.

14 28
Oct.

11 25
Nov.

Prepared by Federal Reserve Bank of St. Louis

9

23

pac.

6

20
Jan.
1971

‘ 0

MOh l 1 oiOCK

5

Averages of Daily Figures
Seasona lly Adjusted

• llnrs

Billions of Dollars

Annual rates of change, average of four weeks ending:
3/4/70

4/1/70

5/6/70

6/3/70

7/1/70

8/5/70

+ 1.5
+ 2.0
+ 4.9
+ 4.0

- 0.3
+ 4.3
+ 3.4

+ 8.3
+ 5.7

9/2/70

+ 7.1

to average
of four
weeks ending:
I 5/6/70
6/3/70
7/1/70
212
8/5/70
9/2/70
211 10/7/70
11/4/70
213

+10.2
+ 9.0
+ 5.9
+ 5.3
+ 6.7
+ 5.8

+
+
+
+
+

7.1
3.6
3.4
5.5
4.7

- 191

rtn

Latest data plotted week ending: November 4, 1970
9

I I 6I '!20I 1

23


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

17
Sept.

1

15

1969

29

12 26

10 24

7 21
Jan.

4

18
Feb.

4 18
Mar.

1

15 29 13 2 7 10 24 8 22
Apr.
May
June
July
1970

5

19

2

16

30 14

28

11 25
Nov.

Prepared by Federal Reserve Bank of St. Louis

9 23
Dec.

6

20
Jan.
1971

TIME DEPOSITS
All Commercial Banks
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

to average
of four
weeks ending:
__ 5/6/70
---- 6/3/70
---- 7/1/70
---- 8/5/70
---- 9/2/70
---- 10/7/70
11/4/70

+19.0
+15.4
+13.7
+19.8

+15.7
+13.4
+21.0

+ 8.2
+19.8

+20.8

+21.8

+21.0

+23.2

+24.4

+24.1

+25.5
+25.2
+27.9

+33.4
+34.2

+29.1
+3.5,-Klfe-o

oi i o.

Current data appear In the Board's H.6 release.

I I I I I I I I I II I ! I I II I I I I ! I ! I | |
Latest data plotted week ending: November 4, 1970


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

Aug.

3 17
Sept.

1

15

29 12

26 10 24
Dec.

7

21" 4

18
Feb.

June

July

Aug.

16 30
Sept.

14 2 8

11

Prepared by Federal Reserve Bank of St. Louis

25

9

23

6
Jan.

llioi

MONEY STOCK PLUS TIME DEPOSITS
Averages of Daily Figures
Seasonally Adjusted

of Dollars

432

Annual rates of change, average of four weeks ending:

430

3/4/70

.,2 \
422
420
418
416

4/1/70

5/6/70

+14.5
+12.1
+ 9.7
+12.4
+13.6
+14.3

428
49ft

Billions of

+11.4
+ 8.4
+12.0
+13.5
+14.3

+ 4-8
+10.8
+12.9
+13.9

6/3/70

7/1/70

8/5/70

9/2/70

to average
of four
weeks ending:
- 5/6/70
■ 6/3/70
' 7/1/70
' 8/5/70
‘ 9/2/70
.10/7/70
J11/4/70

422
420
+12.5
+14.7
+15.5

418

+20.8
+19.8

+18.0

416

414

414

412

412

410

410

408

408

406

406

404

404

402

402

400

400

398

398

396

396

394

394

392

392

390

390

388

388

386

386

384

384

382

382

380

380

378

378

376

376

374

374

372

1 1 > ■ > I I 1 t 1 I I ! I I

llll ........ ...
Latest data plotted week ending: November 4, 1970:

o'"

i i i i i TV i TT

9

23
July
.

6
"


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

15 29 12 26 10 - ■
24
20 3 17 1
----~
-----Aug. Sept.
Oct.
Nov.
Dec.
1969

7
'

21
Jan.

372

i 37.

'
4 18
Feb.

4
^

18 1
Mar.

15 29
Apr.

13 27
May

10 24
June

8

22
July
1970

5 19 2 16 30 *-T 28
14 ft- U
Aug. ' Sept.
Oct.
Jl.Jt-i.KI

11 25
ft- J
Nov.
AX

Prepared by Federal Reserve Bank of St. Louis

9
7

23
Dec.
ft-J

6

U

ft-V_r

Jan.
1971

0

CERTIFICATES OF DEPOSIT li
Large Commercial Banks
Wednesday Figures

Billions of Dollars

Billions of Dollars

Millions of Dollars

Current and year ago data appear in the
Board*s H.4.2 release.
1/ Negotiable time certificates #f deposit
in denominations of $100,000 or more.
Latest data plotted week ending:November 4,. 1970.


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

10 24
Sept.

Nov.

7

21

4

18

4

18
Mar.

1

15

29 13

27
May

10 24
June

8

22
July
1970

5

19
Aug.

2

16 30
Sept.

14 28 11 25
Oct. Nov.

Prepared by Federal Reserve Bank of St. Louis

9 23
Dec.

6

20
Jan.
1971

Lion:

MEMBER BANK DEPOSITS SUBJECT TO RESERVE REQUIREMENTS
(CREDIT PROXY)
Averages of Daily Figures

of Dollars

326
324

Billions of Doll,
328

328

Seasonally Adjusted

Annual rates of change, average of
19 70 from
four weeks ending Nov
four weeks ending;

326

3 25, s'

324
322

322
Credit
Proxy

320

320
318

318

316

316
314
312
310

July 1, 19 70
June 3, 1970
May 6, 19 70
Apr. i, 1970
]Mar. 4, 1970

r

CREDIT
PROXY
ADJUSTED

+ i o. I

314
-

312
310

308

308

306

306

304

304

302

302

300

300

298

298

296

296

294

294

CREDIT
PROXY

292

292

290

29»

288

288

286

286

284
282

CREDIT
PROXY

137Q

280

OGu>. 6
3 ci.

278

3c 8.3
3 I o.

274

3 as. 4
323,9

2 c<? S

272

O'

3*4.3
3a4.9
3a,V,p

3o8 *

268

oa.5,0

30T. 9

276

270

CREDIT
PROXY
ADJ.

3 ic.a

3 il,3
3j r.3>

Current data appear in the Board's H.9 release.
iiiiiiij'II'jj
Latest data plotted week ending: jNovember 4, 1970
I > l l I I I I I I l l l l i i i
9 23 6
20 3 17 1 15 29 12 26
July
Aug.
Sept.
Oct.
Nov.
1969


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

323.7

389“?

3*5.5

L1—LL J 1.1.11 Mil. I ...I J..1-L.1 I ,L,li J.J..L1 I I
4
18
Feb.

4

18
Mar.

1

284

1/ Total member bank deposits plus nondeposit items
is sometimes referred to as the "adjusted credit
proxy." Member bank deposit figures are seasonally
adjusted, but nondeposit items are included in the
series on a seasonally unadjusted basis due to the
short period for which most items are available.
Nondeposit items included in the series are as fol­
lows: gross liabilities of banks to own foreign
branches and to branches in U.S. territories and pos
sessions; Euro-dollars borrowed directly from for­
eign banks or through brokers and dealers; com­
mercial paper issued by bank holding companies or
other bank affiliates; and loans or participations
in pools of loans sold under repurchase agreement
to other than banks and other than banks * own
affiliates or subsidiaries.

15 29 13 27 10 24 8 22
Apr.
May
June
July
1970 '

5 19
Aug.

2 16
Sept.

30

14 28
Oct.

11 25
Nov.

Prepared by Federal Reserve Bank of St. Louis

9 23
Dec.

6

20
Jan.
1971

282
280
278
276
274
272
270
268

'

0

YIELDS ON SELECTED SECURITIES
Averages of Daily Rates Ended Friday

Per Cent
11.00

Per Cent
11.00

3-Month
T r eas u rv
Bill

3-5 Year
Government

Long-Term
Government

Corporate
Aaa

8-i3
8. i 3

10.50

10.50

8.09
8.
@ cS
10.00

10.00

Q.ci

3.0 3
&.c 1

8, o<?

8.0 8

9.50

9.00

’
Prime Commercial
t— Corporate
Loan Rate
— Aaa Bonds

9.00

8.50

8.00

3-5 Year '
Govt. Sec.

7.50

7.00

Three-Month \
Treasury Bill
Market Yield
Discount Rate

6.00

Latest data plotted are averages of rates available for the week ending: |Nov. 13, 1970

5.00
11

25

8

22
Aug.

5 19
Sept.

* AVERAGES OF RATES AVAILABLE

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

3
1969

17

31 14

28

12 26

9

23
Jan.

6

20

6

20

3

17

1

15

29 12 26 - 10 24
June
1970

7

21

4

18 2
Sept.

16 30

13 27

Prepared by Federal Reserve Bank of St. Louis

11 25
Dec.

4

22
Jan.
1971

11

SELECTED SHORT-TERM INTEREST RATES
Averages of Daily Rates Ended Friday

Per Cent

11.0

Per Cent

11.0
Prime
Commercial
Paper
4-6 Month
7.5 C
7.36

Prime
Bankers'
Acceptances

90 Day

Federal
^ Funds
U Lc S
Lr.Cit

10.0
7. OS

fe.So

Le ,

io 70

10

(p. \2>

Commercial Paper
4-to-6 Month

Bankers
Acceptances

Federal Funds Rate

Discount Rate

Latest data plotted are averages of rates available for the week ending: Nov

11

25

8

22

5

19

3

17

31 14

28 12 26
Nov. Dec

9

23

6

20

1969

6

20
Mar.

13, 1970

15 29
May

12 26 10 24 7
21
June July
Aug.
1970

4
18
Sept.

2

16 30
Oct.

13 27
11 25 8
Nov.
Dec.

* AVERAGES OF RATES AVAILABLE; FEDERAL FUNDS LAST FIVE DAYS AVAILABLE

 ARE SECONDARY MARKET RATE, WEEKLY AVERAGES ENDING WEDNESDAY
* DATA
http://fraser.stlouisfed.org EARLIER. CURRENT DATA APPiAR IN THE BOARD'S H.9 RELEASE.
TV~ "AYS
Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

22
Jan
197

BORROWINGS AND EXCESS RESERVES
All MemberBanks in the Nation
Averages of Daily Figures

Millions of Dollars

Millions of Dollars

BORROWINGS
2,800
2,600
2,400

2,200
2,000

Borrowings

Excess Reserves

1,000

Net Free Reserves

- 1,400

2,400

2,800
3,000

Latest data plotted week ending: Nov. 11, 1970"
I I I I 1 I I I. I,
15 29 12 26 10 24 7


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

III.

1969

II 21
r

4

18

4

18

15 29
Apr.

13 27
May

10 24 8 22
June
July
1970

5

19
Aug.

2

16 30
Sept.

14

28 11 25
Oct.
Nov.

Prepared by Federal Reserve Bank of St. Louis

9

23
Dec.

6

20
Jan.
1971