Full text of U.S. Financial Data : Week Ending: November 19, 1975

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

r
Week ending: November 19, 1975
Library

JUN o 8

1979

The monetary base has grown at a 7.8 percent annual rate
over the last three months, compared to an 8.9 percent annual rate
over the previous three months. Although the growth rate of the
monetary base has not differed substantially over these periods
the contribution of changes in the amount of Treasury deposits at
Federal Reserve Banks to the growth of the monetary base has been
markedly different.
In the most recent three months, increases in
these deposits (a negative influence on the monetary base) were
offset to a large extent by increases in Federal Reserve holdings
of Government securities (a positive influence on the monetary
base).
In contrast, the previous three months, from mid-May to
mid-August, were characterized generally by large outflows of
Treasury deposits from Federal Reserve Banks and large decreases
m Federal Reserve holdings of Government securities.
As the chart on page 12 illustrates, recent wide fluc­
tuations in Treasury deposits at Federal Reserve Banks have been
closely paralleled by movements in adjusted Federal Reserve credit
(the largest component of which is Federal Reserve holdings of
Government securities).
Without these offsetting movements the
luctuations of Treasury deposits would have resulted in increased
fluctuations in the monetary base.

Factors Influencing the Monetary Base^
(Sign Indicates Effect on Monetary Base)
Percent Change in Monetary
Base Attributable to:
5/21/75

8/20/75

to
2/
8/20/75-

Sources of Monetary Base
U.S. Government Securities
Loans, Float, and Other F.R. Assets
Other Factors
Treasury Deposits at F.R. Banks
Source Base
RAM 3/
Monetary Base

to
2/
11/19/75-

-196.8%
- 5.7
- 13.3
+268.9
+79.7%
+20.3

+229.8%
+ 60.3
+ 4.2
-222.2
+72.1%
+27.9

100.0%

100.0%

Data are not seasonally adjusted.

2
-/ Change in average of figures for four weeks ended
these dates.
31...

Adjustment for reserve requirement ratio changes and
shifts in the same type of deposits between banks where different
reserve requirement ratios apply.
this Bank.


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

Reserve adjustment computed by
J

Prepared by Federal Reserve Bank of St. Louis
Released: November 21, 1975

MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
122

MILLIONS.
OCT.

15
120

118

116

114

112

110

2 16 30 15 27 11 25

8 22

5 18
FEB

5 10
MAR

2 16 30 14 28 11 25

0 23

6 20

3 17

1

13 M 12 26 10 24

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 19. 1975
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,
11/20/74

AVERAGE OF FOUR WEEKS ENDING:

2/19/75

4/16/75

5/21/75

6/18/75

7/16/75

8/20/75

9/17/75

6. 1
8.2
9.3
7.5
7.7
7.0
7.6

6.0
8.5
6.1
6.7
5.9
6.8

14.8
8.9
9.0
7.5
8.4

6.2
7. 1
5.9
7.1

4. 1
3.6
5.6

5.6
7.8

7.1

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/16/75
5/21/75
6/18/75
7/16/75
8/20/75
9/17/75
10/22/75
11/19/75

2

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

6.7
5.2
6.5
7.4
6.4
6.7
6.3
6.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

RATIO

RATIO

2.8

MULTIPLIER

ISIS.

BAIJQ,
8

OCT.

2.492

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 12. 1975
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
----- ---------- ------------- 112

112 ---------- ,-------- ,---COMPOUNDED ANNUAL RATES
---- OF CHANGE, AVERAGE OF
THE FOUR WEEKS EM} ING
- NOVEMBER 19. 1975 FROM
THE FOUR WEEKS ENDING:
SEP.

17.

JUL.
_

16

MAY

21

1975
1975
1975
1975
1975

32.8
28.8
12.0
9.5
4.3

FEDERAL RESERVE CREDIT

1875
OCT.

NOV
1974

DEC

FEB

MAR

2 1630 M 20 11 25
MAY
JUN

9 23

6 20
AUG

3 17
SEP

MILLIONS

15 103.779

1 15 29 12 26 10 24

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 19, 1975
1/ RATIO OF MONEY STOCK ( Ml ) / MONETARY BASE.
2/ DEFINED TO INCLUDE HOLDINGS OF SECURITIES. LOANS. FLOAT AND •'OTHER’* ASSETS An nisTPn
FOR RESERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE SAME TYPE OF DEPOSIT^ BETWEEN0
BYNTHISHBANKD,PPERENT RESERVE VIREMENT RATIOS APPLY.
DATA ARE SEASONALLY ADJUSTED


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

MONEY STOCK PLUS NET

TIME DEPOSITS

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
670

BILLIONS OF DOLLARS
670

B.LLL1QNS
656.3
659. 1
659.0
658.0
662.0
665.7

U

2 16 30 13 27 11 25
OCT

NOV
1974

DEC

6 22
JAN

5 18
FEB

5 10
MAR

2 16 SO 14 26 11 25 0 23
APR
MAY
JUN
JUL
1975

6 20
AUG

3 17
SEP

1

15 20 12 26 10 24
NOV
DEC
OCT

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 12, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS

H.6 RELEASE.

MONEY STOCK PLUS NET TIME DEPOSITS CM2)
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
11/13/74

2/12/75

4/9/75

5/14/75

6/11/75

7/9/75

8/13/75

9/10/75

18,4
13.9
12.3
9.8
9.8

10.4
9.4
7.2
7.7

7.1
5.2
6.2

4.1
5.8

5.3

TO THE AVERAGE
OF FOUR WEEKS
ENDINGs
4/ 9/75
5/14/75
6/11/75
7/ 9/75
8/13/75
9/10/75
10/15/75
11/12/75

4

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

7.2
7.2
9. 1
9.8
9.4
9.2
8.4
8.5

10. 1
12.8
13.2
12.0
11.3
9.9
9.9

13.8
14. 1
12. 1
11.2
9.4
9.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

w

MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
305

293.4
300

292.5
296. 1
298.0

295

290

285

280

2 18 30 13 27 11

NOV

25

« 22

5 10

5 19

FEB

DEC

MAR

2 16 30 14 2* 11

25

9 23

6 20

5 17

AUG

SEP

I

13 29 12 25 10 24

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 12, 1975
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.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
11/13/74

2/12/75

4/9/75

5/14/75

e/U/75

7/9/75

8/13/75

9/10/75

16.7
10.6
9.9
6.4
6.4

5.1
5.9
2.8
3.4

4.2
0.9
2.1

0.6
2.3

0.0

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/ 9/75
5/14/75
e/11/75
7/ 9/75
8/13/75
9/10/75
10/15/75
11/12/75


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

2.7
2.9
5.5
6.0
5.4
5.6
4.5
4.6

7.0
10.8
10.6
8.8
8.7
6.8
6.6

12.1
11.4
8.5
8.4
5.8
5.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

percent

PRIME BANK
LOAN RATE

10.0

CORPORATE Aaa BONDS

MUNICIPAL
BONDS**

COMMERCIAL PAPER

1

15 2# 13 27

10 24

7 21

7 21

4 18

FEB

4 1*

MAR

2 16 90 19 27

APR

JUN

11

25

8 22

5 1#

5 17 91

14 28 12 26

JUL

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi NOVEMBER 21, 1975

1975
OCT.

NOV.

DEC.

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

90 DAY
CD'S S0RjR

PRIME
COMMERCIAL
PAPER
4-6 MONTH

PRIME
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

MUNICIPAL
BONDSm

7.01
7.18
6.50
6.35
6.16
6.45
6.32
6.10

6.93
6.88
6.59
6.23
6.00
6.03
5.88
5.88

6.79
6.59
6.38
6.04
5.83
5.79
5.77
5.78

8.96
8.92
8.85
8.81
8.77
8.76
8.75
8.80

7.67
7.48
7.29
7.17
l . 36
7.52
7.43
N.A.

SWS!-PiSilSV&,

6

THE*£K ENDING WEDNESDAY TWO DAYS
EARLIER THAN DATES SHOWN.CURRENTDATA APPEAR IN THE BOARD OF GOVERNORS * H.9 RELEASE.
N.A. - NOT AVAILABLE
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS


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

SELECTED SHORT-TERM

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT

12.0
11.5

11.0
10.5

10.0
9.5
9.0
FEDERAL FUNDS RATE

8.5

8.0
7.5
7.0

ITH Tl
:et yi

6.5

DISCOUNT RATE

6.0
5.5
5.0
4.5
4.0
3.5
4 1*

1

15 29 15 27 10 24

7 21

FEB

4 18

2 16 30 15 27 11

25

8 22

5 IS

3 17 31

MAR

14 2* 12 28

NOV

DEC

1075
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* NOVEMBER 21, 1975

1975
OCT.

NOV.

DEC.

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

FEDERAL
FUNDS**

3-MONTH
TREASURY
BILLS

1-YEAR
TREASURY
BILL

3-5 YEAR
GOVERNMENT
SECURITIES

government

6.36
6.06
5.82
5.73
5.65
5.17
5.24
5.24

6.46
6.23
6.01
5.73
5.58
5.50
5.37
5.46

7.16
6.74
6.51
6.29
6.02
5.89
5.96
6.13

8.22
8.00
7.87
7.67
7.50
7.41
7.38
7.59

7.43
7.36
7.31
7.22
7.18
7.17
7.17
7.25

LONG-TERM

SECURITIES

* AVERAGES OF RATES AVAILABLE.
** 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

0

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

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
375

370

362.9
364.4
364.6
365.5
365.9
367.8

365

360

355

350

345

340

335

330

325

216 JO 13 27 11

NOV
1974

25

8 22

5 18

5 18

FEB

DEC

MAR

2 18 30 14 28 11 25

MAY

8 23

6 20

3 17

1

15 28 12 26 10 24

JUN

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 12, 1975
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,
11/13/74

2/12/75

11.1
11.1
12.3
13. 1
13.0
12.3
11.8
11.9

12.6
14.5
15.4
14.7
13.5
12.7
12.7

4/9/75

AVERAGE OF FOUR WEEKS ENDING:

5/14/75

6/11/75

7/9/75

8/13/75

9/10/75

20.0
16.7
14.2
12.7
12.7

15. 1
12.3
1 1.0
11.3

9.3
8.8
9.6

7.1
8.8

9.8

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
4/ 9/75
5/14/75
6/11/75
7/ 9/75
8/13/75
9/10/75
10/15/75
11/12/75

8


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

15.3
16.5
15.2
13.5
12.4
12.4

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
250

BILLIONS
221.0

222. 1

221.9
219.9
225

224.7

220

215

210

2 16 SO 19 27 11

NOV

25

8 22

5 19

5 19

FEB

DEC

MAR

2 16 30 14 28 11

MAY

25

9 23

6 20

3 17

AUG

JUN

SEP

1

15 29 12 26 10 24

LATEST DATA PLOTTED WEEK ENDING! NOVEMBER 12, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
11/13/74

2/12/75

0.6
1.0
4. 1
4.7
4.1
4.5
3.2
3.3

6.7
11.2
10.8
8.6
8.6
6. 1
6. 1

4/9/75

5/14/75

6/11/75

17.7
10.6
10. 1
5.8
5.7

4.0
5.4
1.6
2.3

7/9/75

8/13/75

9/10/75

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/ 9/75
5/14/75
6/11/75
7/ 9/75
8/13/75
9/10/75
10/15/75
11/12/75


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

13.0
11.8
8.4
8.4
5.2
5.3

3.7
-0.5
0.8

-0.8
1.1

-2. 1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

2 16 30 13 27 11

NOV

DEC

25

8 22

5 19

5 10

FEB

MAR

2 16 SO 14 28 11

MAY

25

0 23

BILLIONS OF DOLLARS
------- ---------- ------------- 98

6 20

5 17

AUG

JUN

SEP

1

13 28 12 26 10 24

1975
LATEST DATA PLOTTED WEEK ENOINGj NOVEMBER 12, 1975
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
wffiA^P0R!^CC0»i!eRCllLSB2NKSEP0S,T '88060 'N DEN0M'^TI0NS

1975
OCT.

NOV.

DEC.

1
8
15
22
29
5
12
19
26
3
10
17
24
31

•100*000 « *** BY LARGE

CERTIFICATES
CERTIFICATES
OF DEPOSIT
OF DEPOSIT
NOT SEAS. ADJ.
SEAS. ADJ.
84. 1
84.2
83.9
83.5
83.5
82.7
82.5

80.9
81.6
81.4
81.0
81.3
81.0
81 .0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

10


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

BORROWINGS FROM FEDERAL RESERVE BANKS
ALL MEMBER BANKS IN THE NATION
BILLIONS OF DOLLARS
4.5 t=-------------------- -----

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
----- 1---------- 1---------- =a 4.5
1975

MILLIONS

OCT. 15
22

2 16 SO 15 27 11

NOV
1974

25

9 22

S 19

3 19

FEB

DEC

Ml 10 M

M II 21

9 25

SOAR

6 20

5 17

AUG

173
233

SEP

1 IS 21 12 » 10 24

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 19. 1975

BUSINESS LOANS

(COMMERCIAL AND
BILLIONS OF DOLLARS
134 ------------ ---------- -----

INDUSTRIAL)

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
----- ------------------------ 134

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
NOVEMBER 12. 1975 FROM
THE FOUR WEEKS ENDING.

MILLION?

-2.7
-5.3

JUN. 11

118,780

-9.7
-7.9
2 ie 30 13 27 11

NOV
1974

25

6 22

5 19

5 19

2 1# 30 14 28 11

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 12,


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

25

9 23

6 20

3 17

1

15 29 12 26 10 24

DEC
1975
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

Federal Reserve Credit and Treasury Deposits at Federal Reserve Banks
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
11

10

FEDERAL RESERVE CREDIT

9

8
7

6
5
4
3
[TREASURY DEPOSITS AT F.R.

2
1
0

29

12

JUNE
[^Seasonally adjusted
|2_Not seasonally adjusted

12

Latest data plotted week ending: November 19, 1975


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

Prepared by Federal Reserve Bank of St. Louis