Full text of U.S. Financial Data : Week Ending: November 13, 1974

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

Week ending: November 13, 1974
LIBRARY
JUN 0 8 1979
,


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

The monetary base, the principal sources
of which are Federal Reserve credit and the monetary
gold stock, has risen at a 6.7 percent annual rate
in the last six months. By comparison, in the previous
six months the base increased at a 9.7 percent rate.
From 1970 to 1973 the base rose at an average 7.7
percent annual rate and from 1965 to 1970 it grew
at a 5 percent pace.
Interest rates have declined recently. Most
short-term rates reached peaks in July or August and
have since been declining at a fairly rapid pace.
Yields on prime four- to six-month commercial paper,
as an example, averaged 8.88 percent in recent days,
down from 11.85 percent in the last week of August.
At first, some long-term interest rates continued to
rise, but since mid-October there have been declines
in these rates also. Interest rates on seasoned
highest grade corporate bonds averaged 9.08 percent
in the last week in August, climbed to a high of 9.38
percent in the week ended October 11, but since have
fallen to 8.92 percent.
The growth of time deposits at commercial
banks has slowed in recent months. Total time deposits
have risen at a 12 percent annual rate in the past six
months, compared with a 17 percent rate of increase in
the previous six months. Changes in the growth of
large certificates of deposit (CDs) account for most
of this change. The outstanding volume of large CDs
rose very rapidly from last March through late August,
whereas since late August, the volume has declined
slightly on balance. Net time deposits, on the other
hand, have increased substantially in the past month
after little change in September, and growth over the
past six months —— about a 10 percent rate — has been
about the same as the 11 percent rate of growth in the
previous six months.

Prepared by Federal Reserve Bank of St. Louis
Released: November 15, 1974

MONETARY BASE

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
114 --------- .------------ 1-----

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

Mill

5 IS

I 17 51 14 2S 12 26

NOV

DEC

8 25

a 20
FEB

• 20
MAR

5 IT
APR

1 IS 28 12 2S 10 24

7 21
AUG

4 u
SEP

* ie so ii rr

LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 13, 1GT4
j&SilSS.'iSuSS'fSi
OF THE MONETARY BASE ARE FEDERAL RESERVE CREDIT AND THE GOLD STOCK. DATA ARE COMPUTED GY THIS
BANKTaDETAILEDDESCRIPTI O^THEJOURCES 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*
11/14/73

2/13/74

4/10/74

3/13/74

6/12/74

7/10/74

6/14/74

9/11/74

10.0
9.2
8.7
7.5
7.6
7.6
7.8

9.1
6.3
6.7
7.1
7.1
7.4

6.6
5.1
5.9
6.2
6.7

4.5
5.7
6.1
6.6

5.3
6.0
6.6

7.8
8.4

6*3

TO THE AVERAGE
OF FOUR WEEKS
ENDING*
4/10/74
3/13/74
8/12/74
7/10/74
S/14/74
9/11/74
10/16/74
11/13/74

2


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

9.3
9.7
9.3
6.9
6.1
6.2
6.1
8.2

PREPARED BY FEDERAL RESERVE SANK OF ST. LOUIS

|H

MULTIPLIERv
FEDERAL RESERVE CRED I T 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BATKO

RATIO

MULTIPLIER

1811
OCT.

Bil l a
2

2.545

111 I I I I
LATEST DATA PLOTTED WEEK ENDING, NOVEMBER 6, 1BT4
BILLIONS OF DOLLARS
100--------- 1------------ ,-----

BILLIONS OF DOLLARS

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

100

“

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
— Tit FOUR *EEKS ENDING
NOVEMBER 13, 1974 FROM
— the four we£ks ending,
— SEP.

11

1974

-3.1
FEDERAL RESERVE CREDIT

MILLIONS

iJ 1 I I 1 I
SEP

OCT
NOV
1973

DEC

JAN

FEB

MAR

4 IS

APR

AUG

t IS 90 IS

SEP

tr

LATEST DATA PLOTTED WEEK ENDING, NOVEMBER IS, 1874
1/ RATIO OF MONEY STOCK (Ml ) / MONETARY BASE.

" Bffl

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

mumm*
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
225

215.0
214.4
217.5
215.4
213.1
215.4

220

215

210

205

5 II

5 IT 31 14 26 12 36

NOV
1875

6 66

6 60

6 20

6 17

1

IS 26 12 26 10 24

7 21

4

it * it 9o is ar

DEC
1874

LATEST DATA PLOTTED WEEK END INC* NOVEMBER 6, 1874
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.S RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE . AVERAGE OF FOUR WEEKS ENDING)
11/7/75

2/8/74

4/5/74

5/8/74

8/5/74

B.S
8.2
6.4
6.4
5.6
5.1
4.3
4.3

8.9
8.6
8.3
6.6
5.7
4.5
4.6

5.9
6.2
4.4
3.6
2.3
2.8

7.2
4.4
3.3
2.0
2.5

3.0
2.1
0.8
1.6

7/5/74

8/7/74

0.0
-0.9
0.4

-1.3
0.6

8/4/74

TO THE AVERAGE
OF FOUR WEEKS
ENDING)
4/
5/
0/
7/
8/
8/
10/
11/

S/74
8/74
S/74
3/74
7/74
4/74
8/74
8/74


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

0.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
----------------- ----------g90

290 f—------1------------,-----

BJJ.L I QN5
280.9
281.1
282. I

6.7% TREND LINE
FROM 1ST QUARTER '70
TO 2ND QUARTER *74

5 19

9 IT 91

SEP

OCT
NOV
1973

14 26 12 28 9 29

DEC

JAN

3 20

* 20

FEB

MAR

9 17

7 21

LATEST DATA PLOTTED WEEK ENDING] NOVEMBER 6.

4 18

AUG

APR

SEP

2 19 90 19 27

1974

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.fl RELEASE.
THE MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AND COIN HELD BY THE NONBANK PUBLIC

TO THE AVERAGE
OF FOUR WEEKS
ENDING]
4/
5/
6/
7/
8/
9/
10/
11/

3/74
8/74
5/74
3/74
7/74
4/74
9/74
6/74


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

COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS
ENDING]
11/7/73
2/6/7 4
4/3/74
5/8/7 4
6/5/74
7/3/74
8/7/74
9/4/74

7.8
7.6
7.5
7.5
6.6
6.3
5.6
5.6

10.0
9.3
8.9
7.3
6.8
5.7
5.8

6.9
7.0
5.2
4.9
3.9
4.2

7.3
4.7
4.4
3.3
3.7

3.6
3.5
2.4
3.1

1.9
1.1
2.2

1.2
2.7

2.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT
13.5
13.0
12.5

12.0

12.0

11.5

11.0
10.5

10.5
COMMERCIAL PAPER

PRIME BANK
LOAN RATE

10.0

10.0
9.5
9.0
8.5

CORPORATE AAA BONDS

8.0
7.5
7.0
6.5

6.0
5.5
5.0

MUNICIPAL
BONDS XX

4.5

7 21

5 IB

SEP

2 16 30 1 4 28 11

OCT

JAN

25

6 22

8 22

5 19

3 17 31

14 28 12 26

9 23

6 20

SEP.

OCT.

NOV.

6

6
13
20
27
4
1 1
18
25
1
6
15 X
22
29

15 29

FEB

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: NOVEMBER 15,

1974

1

4 18

1974

90 DAY
CD'S MW

PRIME
COMMERCIAL
PAPER
4-6 MONTH

PRIME
BANKERS'
ACCEPTANCES

CORPORATE
AAA BONDS

MUNICIPAL
BONDS net

12.30
12.00
11.89
11.16
10.87
10.28
9.96
9.63
9.15
9.16
9.05

11.72
11.63
11.25
10.58
10.18
9.70
9.31
6.90
8.83
8.86
8.88

11.79
11.46
10.95
10.36
9.79
9.61
9.31
9. 12
8.95
8.83
8.96

9.13
9.20
9.29
9.32
9.37
9.36
9.29
9.19
9.09
8.99
8.92

6.86
6.79
6.76
6.62
6.68
6.52
6.48
6.51
6.65
6.66
N.A.

X AVERAGES OF RATES AVAILABLE.
3BK BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONOS THURSDAY DATA.
*1108 SEVEN-DAY AVERAGES OF SECONDARY MARKET RATES Fofc THE WEEK EWING 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 SHORT-TERM

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT

13.5

FEDERAL FUNDS RATE

10.5

10.0

J
y

THREE-MONTH TREASURY
BILL MARKET YIELD

DISCOUNT RATE

5 19

2 16 30 M 26 II

25

JAN

8 22

8 22

5 19

3 17 31

M 28 12 26

9 23

6 20

4 18

SEP

FEB

OCT

1

15 29

1973
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: NOVEMBER 15,

1974
SEP.

OCT.

NOV.

6
13
20
27
4
1 1
18
25
1
8
15 X
22
29

FEDERAL
FUNDS SOU

3-MONTH
TREASURY
BILLS

3-5 YEAR
GOVERNMENT
SECUR1T1ES

LONG-TERM
GOVERNMENT
SECURITIES

11.64
11.48
11.41
11.12
11.04
10.43
10.11
9.81
9.72
9.63
9.37

9.34
9. 10
7.64
6.81
6.64
7.24
7.73
7.60
7.95
7.66
7.27

8.61
8.52
8.35
8. 14
8. 13
7.98
7.95
7.90
7.98
7.83
7.71

1974

7.33
7.31
7.31
7.27
7.31
7.27
7.22
7.18
7.12
7.04
6.96

* AVERAGES OF RATES AVAILABLE.
WOtf SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7
4

TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIOWS OF DOLLARS
420 r------------------------- ------

BILL SOWS OF DOLLARS

------------------------- -3 420

TOTAL TIME DEPOSITS

NET TIME DEPOSITS*

5 19

3 17 91

14 26 12 26
NOV

DEC

9 29

6 20

6 20

9 17

FEB

MAR

APR

1

IS 29 12 26 10 24

7 21

4 IS

AUG

SEP

2 16 90 19 27

1973
LATEST DATA PLOTTED WEEK ENDING, NOVEMBER 6,

1974

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 dERTIFICATES OF DEPOSIT ISSUED IN
DENOMINATIONS OF 9100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.

NET TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING;
11/7/73

2/6/74

4/3/74

3/8/74

6/5/74

10.0
10.0
9.7
8.5
9.8

11.2
10.5
6.8
10.2

7/3/74

8/7/74

9/4/74

TO THE AVERAGE
OF FOUR WEEKS
ENDING,
4/
5/
6/
7/
8/
9/
10/
11/

3/74
S/74
5/74
3/74
7/74
4/74
9/74
fl/74


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

11.8
1 1.0
10.5
10.8
10.7
10.5
9.9
10.4

9. 1
8.7
9.4
9.5
9.4
8.7
9.5

7.5
9. 1
9.3
9.2
8.4
9.4

9.5
7.7
9.7

6.5
9.6

9.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK PLUS TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

MONEY STOCK PLUS TOTAL TlhE DEPOSITS

MONEY STOCK PLUS NET TIME DEPOSITS

5 1«

I 17 >1 14 M It H
NOV DEC
1973

8 33

6 20

9 30

3 IT

I IS » 12 38 10 14

7 tl
AUC

4 13
SEP

t 13 30 II IT

LATEST DATA PLOTTED WEEK END INSi NOVEMBER 6, 1974
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.fl RELEASE.

Ml Mi IS DEFINED ASi CURRENCY, DEMAND DEPOSITS PLUS NET TIME DEP0SIT8 (SEE PASE •).

MONEY STOCK PLUS NET TIME DEPOSITS (Mil
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING*
11/7/73

2/6/74

TO THE AVERAGE
OF FOUR SEEKS
ENDINGt
4/
5/
8/
7/
8/
9/
10/
11/

3/74
1/74
8/74
3/74
7/74
4/74
9/74
6/74


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

4/3/74

5/9/74

B/S/74

7/3/74

9/7/74

9/4/74

_

9.8
9.3
9.0
9.2
8.7
8.4
7.8
8.1

9.3
9.0
9.2
8.4
8.1
7.3
7.8

7.2
8.1
7.3
7.1
8.2
6.9

8.7
7.4
7.1
8.0
8.9

7.4
7.1
5.8
6.8

5.7
4.8
8.1

4.1
8.4

8.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKSWEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
92 --------- ------------ -------

5 19

3 17 31

H 29 12 26

NOV

9 23

6 20

6 20

3 17

FEB

DEC

MAR

APR

1

15 29 12 26 10 24

BILLIONS OF DOLLARS
------- ------------ ---------- 82

7 21

4 16

AUG

SEP

2 16 50 13 27

LATEST DATA PLOTTED WEEK END I NSi NOVEMBER 6. 1974
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.B RELEASE.
WKKLY^REP0Rt¥nGCC0MMERC^AL^BaJ6(S^POS'T ,SSUED ,N OeHOM'KATIOHS OF *100.000 OR MORE BY LARGE


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

.

....

1974
SEP.

4
11
18
25
OCT.
2
9
16
23
30
NOV.
6
13
20
27

Mwrrrarrrtg-raFGgTT

data---------------------------------------

BILLIONS
CERTIFICATES CERTIFICATES
NET TIME
OF DEPOSIT
OF DEPOSIT
DEPOSITSK
NOT SEAS. AOJ.
88.5
89.0
88.2
89.1
89.5
88.8
88.7
69.0
87.7
87.1

85.0
86.0
85.8
86.4
86.4
85.2
84.9
85.5
85.0
84.4

322.2
322.1
322.5
322.2
323.0
325.1
326.1
326.7
327.7
327.7

M2 6SI
603.1
602.7
603.3
602.0
603.9
606.2
610.4
608.8
607.2
610.0

SEE FOOTNOTE PAGE 8
SEE FOOTNOTE PAGE 9
PREPARED BY FEDERAL RESERVE BAI* OF ST. LOUIS

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

billions of dollars

lili

MILLIONS

9
16
23
30
6
13

5 19

billions of dollars

2245
1744
1322
163B
1127
1098

3 17 91

14 28 12 26

NOV
1973

9 23

t 20

t 20

MAR

APR

1

13 29 12 26 10 24

7 21

4 l«

AUG

9 17

FEB

DEC

SEP

2 It 90 13 17

LATEST DATA PLOTTEO WEEK ENDINGg NOVEMBER 13. 1974

BUSINESS LOANS
( COMMERCIAL AND INDUSTRIAL )

BILLIONS OF DOLLARS

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
132

— COMPOUNDED ANNUAL RATES
— OF CHANGE. AVERAGE OF _ THE FOUR *EEKS ENDING
NOVEMBER 6, 1974 FROM
— THE FOUR WEEKS ENDINCi
~ SEP.
4, 1974
5.6
— AUG.
7, 1974
9.6
— JUL.
3, 1974
16.9
— JUN.
5, 1974
17.2
MAY
8, 1974
16.2
“ FEB.
6, 1974
22.7
— NOV.
7, 1973
20.0

130
126
126
124
122
120
118
116
114
112
110
108
106

5 19

3 17 31

14 28 12 26

NOV

DEC

9 23

6 20

6 20

3 17

FEB

MAR

7 21

I I I LJ-LL

2 16 30 13 27

1974

1973


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

IS 29 12 26 10 24

4 16

APR

LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 6,

1

1974
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

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

BILLIONS OF DOLLARS
505 r--------- ,---------------,------

BILLIONS OF DOLLARS

--- --------- ----- SOS

CONFOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF THE FOUR WEEKS ENDING
NOVEMBER 8, 1974 FROM THE FOUR
WEEKS ENDING.
CREDIT
CREDIT
PROXY
ADJUSTED

CREDIT PROXY ADJUSTED 1/
SEP.
AUG.
JUL.
JUN.
MAY
FEB.
NOV.

4,
7,
3,
3,
8,
S,
7,

1974
1974
1974
1974
1974
1974
1973

10.2

BILLIONS
CRED I T
PROXY

CREDIT PROXY

481.6
481.0

CREDIT
PROXY
ADJUSTED
490.7

490.6

478.2
491.6

5 IS

3 17 31

SEP

OCT

M 28 12 26 *23
NOV

DEC

JAN

620 t 20
FEB

MAR

3 17

I

APR

13 29 12 26 10 24

7 21

4 16

2 1* 30 13 27

1973

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 6,

1974

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE.
" mSWPW ^a?5^-n^^ISu^"C,al PAPE"‘ E“ borrowings of


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

PREPARED BY FEDERAL RESERVE BAT* OF ST. LOUIS