Full text of U.S. Financial Data : Week Ending: November 19, 1969

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

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mm

mm

U.S. ftnRnCIflL OATH

%nPv',
l

Week ending: November 19, 1969

'BRAR^ /

There has been no significant change in monetary
actions during the last five months.
Since early June the
money stock has been about unchanged, and the demand de­
posit component of money has declined at a 1.4 per cent
annual rate (pages 4 and 5). The last time money growth
slowed to this extent for this long was in 1966, when the
level of the money stock was unchanged for nine months from
April to January 1967, following six months of growth at
a 6.6 per cent rate.
In the most recent nine-month period
the money stock has increased at a 2.7 per cent annual
rate.

already have fallen by more than one-half the amount
outstanding last December to $11.4 billion (page 8), and
the effect of ceilings on other time deposits has increased.
Time and savings deposits other than large CD's declined
at a 5.8 per cent annual rate from July to October, whereas
in the previous period from December they had continued to
grow, though at the reduced annual rate of 2.8 per cent.
Growth of deposits at savings and loan associations, also
subject to interest rate ceilings, slowed to a 1.5 per cent
rate from July to October, down from a 4 per cent rate
earlier in the year and 5.8 per cent in 1968.

Restrictive monetary actions are also reflect­
ed in Federal Reserve credit and the monetary base (page 2).
Since early June growth of Federal Reserve credit has been
limited to a 2.8 per cent annual rate, compared with a 6
per cent rate in the period from December to early June,
and a 10 per cent increase in 1968. The monetary base
shows a growth pattern similar to the money stock; both
have been essentially unchanged since early June.

Market interest rates remain at high levels
after increasing rapidly from last December to July (pages
10 and 11). Since mid-July, long-term rates have con­
tinued their upward trend, with yields on highest-grade
corporate bonds averaging 7.29 per cent in the last four
weeks, up from a 7.08 per cent average for July and 6.45
per cent last December. Yields on three- to five-year
Government securities have averaged 7.50 per cent in the
last four weeks, compared with 7.02 per cent in July and
5.99 per cent last December.

Time deposits at commercial banks have continued
the decline induced by ceiling rates held at noncompetitive
levels (page 6). Large negotiable certificates of deposit

BECUASE OF THE THANKSGIVING HOLIDAY
NOVEMBER 27, 1969, THE U.S. FINANCIAL
DATA RELEASE WILL BE PUBLISHED ONE
DAY LATE.


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

Rates of change reported in this release are
intended to serve as summaries which may be
useful in analyzing recent developments.

Prepared by Federal Reserve Bank of St. Louis
Released: November 21,1969

MONETARY BASE]L
FEDERAL RESERyE CREDIT^
llio:
82

Billions of D<

Averages of Daily Figures

Dollars

Seasonally adjusted by this bank.

/9^9

Annual rates of change, average of four weeks
ending Nov. 19 , 1969 from four weeks ending:
81

Aug.
May
Feb.
Nov.

80

20,
21,
19,
20,

1969
1969
1969
1968

June 11, 1969

79

1957-1968

Monetary
Base
+J.7
■*- /. 0
A J -O
y- 3.4L
— d>. oL
+ 3* Co

F.R. Crec
A S, S
+ 3.1
i-3.S

Monetary
Base
7 7, A41
77,33s
77 &?/ 8
7 7, 539
7 7, l*Pl
74, 7#?
7 7, .34*
77,

7 1,530

7fe,7/?

•hH. O

77,
7 7, 7d'3"
7'l,') 41
71t*a
itin

A- J. 7
1-ZJ

7ff./8
78

Monetary Base

77

76

4^. V7
75

F.R.Credit

74
1*4,597 '
u4,a°° '
Federal Reserve Credit

le 4, 3AP

73

C* 13, 6 33
fed,*4C

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

62

1*4,
U 4,4Si

mn

1968 Review of this bank.
61

60

0

Latest data
Latest data
L0 24
July

7 21
Aug.


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

Defined to include holdings of securities,
—
loans, float, and "other" assets, adjusted
for reserve requirement changes and changes in
requirements due to shifts in deposits among
preliminary
plotted week ending: Nov. 19, 1969--classes of banks.
2 16 30 14 28 11 25 9 23
4 18 2 16 30 13 27 11 25 8 22 5 19 5 19
June
July
May
Apr.
Feb.
Mar.
Jan.
Dec.
.
Nov.
Oct
Sept.
1969
1968

bi'HS
1*5,41*7 P-

6

20
Aug.

3 17
Sept.

1

15 29
Oc.t.

_i_1—ft—1—1—1 1 1 i ' ‘ ■
10 24 7 11
12 26
Dec.
Jan.
Nov.
1970

Prepared by Federal Reserve Bank of St. Loui

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

3
Billions of Dollars

Annual rates of change, average of four weeks
ending Nov. 19> 1969 from four weeks ending:

30.0

Aug.
May
Feb.
Nov.

29.5

20
21,
19,
20,

1969
1969
1969
1968

— ho
-3.9

June 11, 1969

29.0

-1959-1968
28.5

TOTAL
28.0

27.5

27.0

26.5

26.0

Series adjusted by the Board of Governors
to reflect changes in reserve requirements.
For comparability back data have been re­
vised due to the change in Regulation D effec­
tive July 31, 1969 requiring member banks to
include all "bills payable checks" and so-called
"London checks" as deposits subject to reserve
requirements.

?. A
25.5
0.7-3
25.0

Data exclude increase in required reserves of
about $400 million due to changes in Regulations

.Latest data preliminary
■Latest data plotted


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

Current data including required reserves
due to changes in Regulations M and D effective
October 16, 1969 appear in the Board's H.9 release.

Nov. 19, 1969
13 27

11 25

5

19

5

19

2

16 30
\pr.

14 28
May

11 25
June

9 , 23
July
1969

6

20
Aug.

24.5

3 17
Sept.

1

15 29
Oct.

12 26
Nov.

Prepared by Federal Reserve Bank of St. Louis

10 24
Dec.

7

21
Jan.
1970

0

illii

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
Averages of Daily Figures
Seasonally Ad usted

of Dollars

171
170
169

Billions of

----- Annual rates of change, average of four
weeks ending Nov. 12, 1969 from four
___ weeks ending:

168
167
166

" Aug.
May
Feb.
Nov.

13,
14,
12,
13,

1969
1969
1969
1968

/£ 4.*-

165
164

___June 11, 1969

163

---- Dec. 25 - June 11

+
162

v. v

7 Lots-

£

1957-1968

161
160
159
158
157
156
155
154
153
152
151
150
149
148
147
146
145
144

Data include the annual revision of seasonal factors
and benchmark adjustments of nonmember bank deposits.
Current data appear in the Board's H.6 release.

143
142
141^

Latest data preliminary
Latest data plotted week ending:

Nov. 12, 1969

0~~
10 24


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

16
1968

30 13

27 11 25
Dec.

0

22
Jan.

5

19
.

5

19
Mar.

2

16 30 14 28 11 25 P 23
Apr.
May
June
July
1969

6

20
Aug.

3 17
Sept.

1

15

29

12

Prepared by Federal Reserve Bank of St. Louis

26 10

24

7

21

r
MONEY STOCK
Averages of Daily Figures
Seasonolly Ad

Billions of Dollars

Billion* of Dollar*

115

in
Annual rate* of change, average of four
___ week* ending Nov. 12, 1969 from four
------week* ending:

113
212
211

~~Aug. 13, 1969
May 14, 1969
-f-Feb. 12, 1969

210

209

----- Nov. 13, 1968

208
___ June 11, 1969

207

V-V. ?

Dec. 25 - June 11

206
205

1957-1968

204
203
202
201
200

199
198
197
196
195
194
193
192
191
190
189
188
Data include the annual revision of seasonal factors r
~ and benchmark adjustments of nonmember bank deposits.^
_ Current data appear in the Board'‘ H.6 release.
i

i

i

i

i

i

i

l

l

l

l

l

l

I

I

l

l l

___ Latest data preliminary
2— Latest data plotted week ending:
-I—1—1—1
I I I I I I 1 I I
10 24 7 21 4 18 2 16 30 13 27 11 25
Sept.
1968


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

187
186

J—I—\—1—t
R

22
Jan.

185
5

19

5 19
Mar.

2

16 30
Apr.

14 28
May

11 25 9 23
June
July
1969

6

20
Aug.

3

17 1
Sept.

15 29

12 26

Prepared by Federal Reserve Bank of St. Louia

10

24

7

21
Jan.

0

Billi,

TIME DEPOSITS
All Commercial Banks

3 of Dollars

A VP rn o o c n f H n I It#

234
232
230
228
226
224
222

SeasonallyAd usted

Annual rates of change, average of four weeks
ending Nov. 12, 1969 from four weeks ending:
Aug.
May
Feb.
Nov.

13,
14,
12,
13,

.. .. .

1969
1969
1969
1968

1957-1968

220
218
216
214
212
210
208
206
204
202
200
198
196
194
192
190
188
186
184
182
180
178

Data include the annual revision of seasonal factors
and benchmark adjustments of nontnember bank deposits.
Current data appear in the Board's H.6 release.

176
174 __

0

Latest data preliminary
Latest data plotted week ending:

I"


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

t4’.2
1968

F44ffl=
Nov' 12, 1969

&”13j7n„.r

\r

* >3°
Mar-

Apr-

Vi.
May

i'.v!'-A'j

June

Aup.

Sept.

Oct.

1969

Prepared by Federal Reserve Bank of St. Ix

MONEY STOCK PLUS TIME DEPOSITS
Averages of Daily Figures
SeasonallyAdjusted

Billions of Dollars

Billions of Dollars

Annual rates of change, average of four weeks
ending Nov. 12, 1969 from four weeks ending:
Aug.
May
Feb.
-Nov.

13,
14,
12,
13,

1969
1969
1969
1968

June 11, 1969
1957-1968
"I Bet

398

Data include the annual revision of seasonal factors
and benchmark adjustments of nonmember bank deposits
Current data appear in the Board's H.6 release.
Mil
ft 1 1 I I
_ Latest Data Preliminary
_ Latest Data Plotted Week Ending:
10 24

7


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

21

4

18 2
Sept.

16

30 13

Nov. 12, 1969
27 11
Nov.

25

8

22

5

19
Feb.

5

19
Mar.

2

16 30 14 28
Apr.
May

11 25
June

9 23
July
1969

6

20

3

17 1
Sept.

15

29 12 26
Nov.

Prepared by Federal Reserve Bank of St. Louis

10 24

7

21
J an.
1970

.

lio

CERTIFICATES OF DEPOSIT H
Large Commercial Banks
Wednesday Figures

of Dollars

Billions of

Annual rates of change, data not seasonally
adjusted, average of four weeks ending Nov.
1969 from four weeks ending:

28

Aug.
May
Feb.
Nov.

26

13,
14,
12,
13,

Millions of Dollars
i<3,<an'=>

/&., /V 9

/a.,
la, ui/o
/a. <2 7V
/a, o7?
/ /, ya /

1969
1969
1969
1968

n, 7vy

//,7/V

24
1964-1968

ii sut
//' S3 4
II, 1C 5

22

//, vy /

p

20

18

16

14

12
//. vy

10

8

6
0

.Current and year ago data appear in the
-Board's H.4.2. release.
-JJ Negotiable time certificates of deposits
-in denominations of $100,000 or more.

ti
I I 11 11 111 I f II |-t-rt tl
.Latest data preliminary
Nov.
.Latest data plotted:
7 —LU__1
21 4_I__I
18_I_L_
2 16 30
Aug. Sept.
Oct.
1968

10 24
July


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

13 27
Nov.

11 25
Dec.

5

19
Mar.

2

16 30 14 28
Apr.
May

11 25
June

9 23
July
1969

20
Aug.

3 17
Sept.

1

Prepared by Federal Reserve Bank

15 29 12 26
Oct.
Hov.

f St. Louis

10 24
Dec.

7

21
Jan.
1970

Dollars

11:

84

82

BUSINESS LOANS
Large Commercial Banks
Wednesday Figures

of Dollars

Billions of Dollars

Seasonally adjusted by this bank.

84

-Annual rates of change, average of
four weeks ending Nov. 12, 1969

Aug.
May
Feb.
Nov.

13,
14,
12,
13,

82

1969
1969
1969
1968

80

80

If. Si
78

78

76

76

74

74

72

72

MILLIONS OF DOLLARS

Seasonally

UNADJUSTED mTncTrp
7 7. 3“8/
7 7,^9 5
7 7,.274,
7 7, /9?
77. j'?*’
7 7, as 7
7 7, 4*y ?
74., C.J/
74*, 6.yy
77, 7*0
7 7,973
7 9, «<o/,
7 7, ? 7 f
77 9/7
7
06^
7 f, *27 7
7f, 7 SC,
7 f, j'-ry
lltH
7 7U3

70

68

66

77>v<?

IS, 111

ns.azip

70

68

7S,<H7

66

7?, VZS

77.707
7F, 577 P
64

64

62

62

0

Latest data preliminary
Latest data plotted:
1044 rTT

July

Aug.


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

Sept.

Oct.
1968

Current and year ago unadjusted data appear in
the Board's H. 4.2 release. Seasonal adjustment
computed by this bank using 1963 through 1968 data

Nov. 12, 1969
t i i
Dec.

i

1478

Jan.

Mar.

i

l

i

i i

i

i

1 l

l

l l

i

l

l

1

I

I

1

Oct.

June
1969

Prepared by Federal Reserve Bank of St. Louis

'

l. I 1. 1-1- I l

J an.
1970

0

10

YIELDS ON SELECTED SECURITIES
Averages of Daily Rates Ended Friday

Per Cent

Ber Cent

9.50
3-5 Year

Long Term

7,07

8.50

7
7, 3S

Prime Commercial
Loan Rate

Corporate
Aaa Bonds

L.S 7

7.00
Three-Month Trei
Bill Market Yield

6. 57

6.00
Long-Term
Government Bonds
Discount Rate

4.00

Latest data plotted are averages of rates available for the week ending; Nov. 21, 1969
12

26

9

23

6

20

4

*AVERAGES OF RATES AVAILABLE

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

15

29 13

7

10

24 7

21
.

7 21
Mar.

4 18
Apr.

2

16 30
May

13 27 11 25
June July
1969

8

22
Aug.

5 19
Sept.

3

17

31 14

Prepared by Federal Reserve Bank of St. Louis

28 12

26

9

23

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

Ber Cent

11.00
Prime
_ CnTmnerr i a 1
Prime
■
Paper
Bankers'
_ 4-6 Mouth Acceptances

"

90 Day

Per Cent

11.00

Federal
Funds

10.50

S.ti

g. 03
/0
2-oo

X Co

10.00

10.00

g. 10

Federal Funds Rate

?. / 3
g' /J .

7>/r
S’.Jf

9.50

S'. AT
Jj"
%. oo
? .CO
?■ oo

S’. 5"?

9.00

S’, 09
4o
L ?• 5?

8.50

8.00

8.00

Commercial Pafier
4-to-6 Month
Bankers'
Acceptances

7.50

7.00

6.50

6.00

6.00

Discount Rate

;Datest data plotted are averages of rates available for the week ending: j^ov
| l i i I I
i i ' ' ' ' « i i 1 ' » 1 1 ' • 1 ' ■
12 26 9 23 6 20 4 18
1 15 29 13 27 10 24 7 21 7 21 4 18 2
Sept. Oct.
Jan.
1968

21

1969

16

30 13 27
June

11 25

8 22

Aug.

5 19
Sept.

3

17 31

14

1969

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

SOURCE:

SALOMON BROTHERS AND HUTZLER

 SECONDARY MARKET RATE ON 90-DAY PRIME CD'S
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

28 12

Nov.

Prepared by Federal Reserve Bank of St. Louis

26

9

23
J an.

1970

12

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

Millions of Dollars

EXCESS

Millions of Dollars

BORROWINGS

RESERVES

2,800

2,800
•3<* /

2,600
// O (c

2,400
/ OO
2,200
2,000

2,000
.Borrowings.

1,800

1,200

nsswu I

Excess Reserves

1,000

-

1,200

1,200

-

-

-1,400

-1,400
Net Free Reserves

-1,600
-1,800
2,000

2,000

-

-

2,200

-

-2,400
-2,600

-2,600

-2,800 _Latest data preliminary
-Latest data plotted weekending: Nov. 19, 1969
-3,000
16 30 13 27 11 25 8 22 5 19 5
4 18


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

Nov.

1968

Feb.

19
Mar.

2

16 30
pr.

14
May

28 11 25

23

6

20
Aug.

June

3

17

Sept.

1

15

29

12 26
Nov.

10 24
Dec.

7

21

4

18

Jan.

1989

18

Mar.

1°70
Prepared by Federal Reserve Bank of St. Louis

4