Full text of U.S. Financial Data : Week Ending: November 19, 1980
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r>j rsic: i x\ t_ o>a r/» Week ending: November 19, 1980 The spread between the interest rate paid on newly issued six-month Treasury bills and the ceiling rate paid on commercial bank passbook accounts has widened in recent months. During the period from August to October, the spread between these two rates averaged 493 basis points,compared to an average spread of 816 basis points during the period from February to April and 272 basis points during the May-July period. Money market certificates (MMCs) are small time deposits issued by commercial banks in denominations of $10,000 or more and with maturities of six months. Because the maximum rate payable on MMCs is linked to the yield on newly issued six-month Treasury bills, it fluctuates with market forces. In contrast, the maximum rate paid on passbook deposits is fixed. As shown in the table below, the growth patterns of savings and small time deposits are related to changes in the spread. For instance, during the most recent period when the spread increased to an average of 493 basis points, the growth rate of savings deposits dropped from 24.7 percent to 15.0 percent. In contrast, the growth rate of small time deposits during this period more than doubled from 2.4 percent to 5.8 percent. Growth Rates of Commercial Banks' Savings and Small Time Deposits (Seasonally adjusted, compounded annual rates of change) Four-weeks ending to four-weeks ending 1/30/80 - 4/30/80 4/30/80 - 7/30/80 7/30/80 - 10/29/80 Savings deposits -29.4 % 24.7 15.0 Small time deposits* 49.4% 2.4 5.8 * Time deposits issued by commercial banks in denomination of less than $100,000. Prepared by Federal Reserve Bank of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Released: November 21, 1980 2 ADJUSTED MONETARY BASE AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS OCT. SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS 64.3 64.5 165.9 165.6 166.0 166.5 NOV. AUG 1979 SEP 1 980 LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 12, 1980 THE ADJUSTED MONETARY BASE CONSISTS OF: < I ) MEMBER BANK RESERVES AT THE FEDERAL RESERVE BANKS, (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF COMMERCIAL BANKS), ANO (3) AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES. THE MAJOR SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT. DATA ARE COMPUTED BY THIS BANK. A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM THIS BANK. ADJUSTED MONETARY BASE COMPOUNDED ANNUAL RATES OF CHANGE, 11/14/79 AVERAGE OF FOUR WEEKS ENDING: 2/13/80 4/9/80 5/14/80 6/11/80 6.3 6.8 7.3 8.3 9.2 8.8 9.3 5.3 6.5 8. 1 9.4 8.9 9.5 9.0 10.3 1 1 .5 10.3 10.8 1 1.0 12.4 10.7 11.2 7/9/80 8/13/80 9/10/80 10.4 11.3 9.6 TO THE AVERAGE OF FOUR WEEKS END 1NG: 4/ S/80 5/14/80 6/11/80 7/ 9/80 8/13/80 0/10/80 1(7/15/80 11/12/80 7.8 6.8 7.0 7.3 7.9 8.6 8.4 8.8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 13.7 1 1 . 1 1 1 .6 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS ADJUSTED BANK RESERVES 1/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF OOLLARS 54 BILLIONS OCT. — NOV. 5 19 3 17 31 14 28 NOV 1979 12 26 9 23 6 20 3 19 2 16 30 4 28 II 25 9 23 6 20 3 17 DEC LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 12, 1980 1/ ADJUSTED MONETARY BASE LESS CURRENCY HELD BY THE NONBANK PU8LIC ( MEMBER BAh* RESERVES AT FEDERAL RESERVE BANKS < ♦ ) CURRENCY HELD BY COMMERCIAL BANKS). ADJUSTED BANK RESERVES COMPOUNDED ANNUAL RATES OF CHANGE AVERAGE OF FOUR WEEKS ENDING: 11/14/79 2/13/80 4/9/80 5/14/80 6/11/80 8. 1 5.6 5.6 5.6 5.7 8. 1 7.0 7.7 5. 1 5.2 5.3 5.5 8.9 7.3 8.2 0.0 1 .7 3.0 8.0 6. 1 7.4 5.5 5.9 11.9 8.6 9.8 6. 1 13.9 9.2 10.6 7/9/80 8/13/80 9/10/80 12.4 13.8 5.9 TO THE AVERAGE OF FOUR WEEKS ENDING: 4/ 9/80 5/14/80 6/1 1/80 7/ 9/80 8/13/80 9/10/80 10/15/80 11/12/80 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 17.9 10.3 11.7 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4 MONEY STOCK ( Ml A ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 199Q BILLIONS of dollars 6 III 1 QMS _ OCT. 387.7 387.2 386.5 388.4 NOV. 390.2 I I I I 3 17 SI 14 NOV 28 12 26 B 23 6 20 S IB 2 16 SO 14 28 II 23 DEC B 23 6 20 S AUG SEP 17 1979 LATEST DATA PLOTTED WEEK ENDING*. NOVEMBER 12. 1980 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. MIA CONSISTS OF CURRENCY AND COIN PLUS COMMERCIAL BANK DEMAND DEPOSITS HELD BY THE NONBANK PUBLIC EXCLUDING THOSE HELD BY FOREIGN BANKS AND OFFICIAL INSTITUTIONS. MONEY STOCK (MIA) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 11/14/79 2/13/80 3.3 -0.5 0.6 1 .9 3.5 4.6 5. 1 5.7 -6.0 -2.9 -0. 1 2.7 4.3 5.0 5.8 4/9/80 5/14/80 6/11/80 10.4 12.1 12.9 12.1 12.3 13.9 14.4 13. 1 13.0 7/9/80 8/13/80 9/10/80 12.2 12.4 11.1 TO THE AVERAGE OF FOUR WEEKS ENDING: 4/ 9/80 5/14/80 6/11/80 7/ 9/80 8/13/80 9/10/80 10/15/80 11/12/80 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -5.6 -0.3 3.7 5.7 6.5 7.3 15.2 13.2 13. 1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK ( MlB ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 420 BILLIONS — OCT. 410.2 411.4 410.5 — NOV. 413. 1 415.5 il 111111 3 17 31 14 28 12 26 9 23 6 20 nil I2 I 16I 5 19 11111111 30 14 28 1979 II 25 1980 LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 12, 1980 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. M1B CONSISTS OF MIA PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITARY INSTITUTIONS. MONEY STOCK ( MlB ) COMPOUNDED ANNUAL RATES OF CHANGE 11/14/79 2/13/80 4/9/80 5/14/80 AVERAGE OF FOUR WEEKS ENDING: 6/11/80 7/9/80 8/13/80 9/10/80 TO THE AVERAGE OF FOUR WEEKS ENDING: 4/ 9/80 5/14/80 6/11/80 7/ 9/80 8/13/80 9/10/80 10/15/80 11/12/80 4.5 0.7 1.7 3.4 5. 1 6.3 7.0 7.6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -4.4 -1.5 1.7 4.7 6.5 7.3 8. 1 -4.5 1 .5 5.9 8. 1 8.9 9.7 12.6 14.7 15.6 14.9 14.9 17.4 17.8 16.3 16. 1 18.4 16.2 15.9 15.2 15.2 13.6 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 6 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT 21 .0 — 21.0 rr 20.0 20.0 19.0 18.0 ME BANK AN RATE 14.0 14.0 90 DAY CD'S 13.0 COMMERCIAL PAPER 12.0 12.0 11.0 CORPORATE Aaa BONDS Cl PAL BONDSkm I I I I 5 19 2 16 30 14 28 11 25 8 22 7 2 21 MAR 16 30 13 27 JUN 1980 APR II 25 8 22 5 19 3 17 1979 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: NOVEMBER 21, 1980 SEP. 5 OCT. 26 3 10 24 31 21 K 28 31 14 28 JUL 1980 90 DAY CD'S PRIME COMMERC1AL PAPER mm PRIME BANKERS' ACCEPTANCES CORPORATE Aaa BONDS CORPORATE Baa BONDS MUNICIPAL BONDS SOE 10.72 10.90 11.34 11.45 12.81 12.36 12.52 12.90 13.98 14.98 14.95 15.70 10.39 10.62 10.94 11.25 12.51 11.98 12. 15 12.32 13.38 14.48 14.44 15.08 10.63 10.80 11.07 11.37 12.51 12. 17 12.24 12.66 13.71 14.68 14.64 15.34 11.89 11.90 12.00 12. 15 12.30 12. 18 12.11 12.27 12.72 12.96 12.93 12.96 13.55 13.57 13.69 13.82 14.12 14.12 14.09 14.27 14.49 14.56 14.61 14.59 8.78 8.82 8.98 9. 18 9.22 9.01 8.81 9.06 9.45 9.64 9.50 N. A. ** BONDG0UYER■S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THUR .DAY DATA. KKX DATA ARE 4-MONTH COMMERCIAL PAPER RATES. N.A. - NOT AVAILABLE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOU IS SELECTED INTEREST RATES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT 20.0 20.0 FEDERAL FUNDS RATE 19.0 18.0 18.0 17.0 17.0 16.0 15.0 15.0 14.0 13.0 13.0 12.0 12.0 DISCOUNT RATE 11.0 11.0 10.0 10.0 5-YEAR TREASURY SECURITIES 9.0 8.0 7.0 3-MONTH TREASURY BILL I I 1 I I I I 2 16 50 14 28 II 25 8 6.0 1 1.1 J_L.1-LL 0 22 1980 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING-. NOVEMBER 21, 1980 SEP. OCT. NOV. 5 12 19 26 3 10 17 24 31 7 14 21 ft 28 1980 FEDERAL FUNDS am 3-MONTH TREASURY BILL 6-MONTH TREASURY BILL mm 1-YEAR TREASURY BILL 5-YEAR TREASURY SECUR1T1ES LONG-TERM TREASURY SECURITIES 10.47 10.22 10.64 10.85 12.38 12.59 12.64 12.55 13. 17 13.99 14.65 15.22 9.78 10.09 10.26 10.45 11.39 11.24 11.07 11.66 12.51 13.28 13.29 13.89 10.25 10.23 10.88 10.82 11.72 11.14 11.28 11.41 12.28 13.27 13.23 13.92 9.84 10. 15 10. 58 10.94 11.14 10.87 10.85 11.36 12. 16 12. 47 12.21 12.67 11.23 11.31 11.68 12.01 11.80 11.46 11.55 11.89 12.62 12.94 12.59 12.74 11.03 11.14 11.37 11.66 11.71 11.35 11.31 11.64 12. 19 12.41 12.28 12.51 Ji AVERAGES OF RATES AVAILABLE. am SEVEN-DAY AVERAGES FOR WEEK END ING WEDNESDAY TWO DAYS EARL IER THAN DATE SHOWN. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE. new issue rate RATES ON LONG-TERM TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST. LOUIS. TREASURY BILL YIELDS ON DISCOUNT BASIS. mm http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 7 8 MULTIPLIERS!/ CURRENCY OF MONEY STOCK MEASURES */ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO 2.9 RAT |p MONEY MULTIPLIERS NOV. RATIO OCT. .480 I I I I I I I I I I I I I I I 1 LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 12, 1980 BILLIONS OF DOLLARS 118 BILLIONS OF DOLLARS - COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF -----THE FOUR WEEKS END ING NOVEMBER 12 -------- .- 198Q FR0M — SEP. 10, AUG. 13 ■j, JUn! MAY r cd . NOV. I 980 1980 i 1980 1980 1980 9, II, 14 i «j , 11.2 10.3 iu.j 11.6 11.5 11.2 i aw 14, CURRENCY 1979 1980 I I I I 1111 5 19 3 17 31 14 28 12 26 9 23 6 20 5 19 2 16 50 14 28 II 25 8 23 BILLIONS I I I 1 I I I I I I I I I I I I 6 20 3 17 1979 LATEST DATA PLOTTED WEEK ENQING: NOVEMBER 12, 1/ I960 RATIO OF MONEY STOCK (MIA) OR (MIB) TO ADJUSTED MONETARY BASE 2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS DEMAND DEPOSIT COMPONENT OF MONEY STOCK (MIA) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 285 BILLIONS OCT. 271.5 272.8 272.0 270.9 272.8 274.3 NOV. I I I I NOV DEC 1980 1979 LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 12, 1980 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. DEMAND DEPOS1T COMPONENT OF MONEY STOCK ( Ml A ) COMPOUNDED ANNUAL RATES OF CHANGE 1/14/79 2/13/80 4/9/80 AVERAGE OF FOUR WEEKS ENDING: 5/14/80 6/11/80 10.3 12.0 13.6 12.7 12.7 14.2 15.6 13.9 13.7 7/9/80 8/13/80 9/10/80 TO THE AVERAGE OF FOUR WEEKS ENDING: 4/ 9/80 5/M/80 6/11/80 7/ 9/80 8/13/80 9/10/80 10/15/80 11/12/80 1.6 -3.7 -2.3 -0.6 1.3 2.8 3.5 4.2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -10.9 -6.9 -3.3 -0.1 2.2 3.3 4.2 -10.9 -4.0 0.9 3.9 5.0 5.9 16.5 14. 1 13.8 13.6 13.3 11.1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 10 SAVINGS PLUS SMALL T I ME DEPOS TS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUS ItU BILLIONS OF DOLLARS ILL IONS OF DOLLARS —i------------- --------=3 485 485 r;---------1--------------- 1------ 468.8 470.3 470.9 471.5 472.2 475.5 OCT. NOV. I I I I 1 I 1 1 II 3 17 31 14 28 12 26 9 23 6 20 5 FEB MAR 19 2 16 SO 14 21 MAY II 25 JUN 9 23 6 20 3 AUG SEP 17 5 29 12 26 1980 1979 LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 12, I960 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000. SAVINGS PLUS SMALL TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 11/14/79 2/13/80 4/9/80 5/14/80 6/11/80 7/9/80 8/13/80 9/10/80 11.1 1 1.8 1 1.2 10.4 10.8 12.9 11.8 10.6 11.1 11.4 10.0 10.7 8.4 9.8 10.0 TO THE AVERAGE OF FOUR WEEKS ENDING: 4/ 9/80 5/14/80 6/11/80 7/ 9/80 8/13/80 9/10/80 10/15/80 11/12/80 8.3 8.5 8.6 9. 1 9.6 9.6 9.4 9.6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9.5 9.5 10. 1 10.7 10.5 10. 1 10.4 9.3 10.4 11.1 10.8 10.2 10.5 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS BORROWINGS FROM FEDERAL RESERVE BANKS ALL MEMBER BANKS billions of 1980 OCT. IN THE NATION AVERAGES OF DAILY FIGURES dollars billions of dollars MILLIONS 15 1979 3 17 31 14 28 12 26 9 23 9 23 1979 6 20 3 AUG SEP 17 1980 LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 19, 1980 BUSINESS LOANS (COMMERCIAL AND BILLIONS OF DOLLARS 176 ------------,--------------- ,------ INDUSTRIAL) WEEKLY REPORTING LARGE COMMERCIAL BANKS StASUNALLY ADJUSTED BILLIONS OF DOLLARS ------ --------------- ------------ COMPOUNDED ANNUAL RATES — OF CHANGE, AVERAGE OF ~ - THE FOUR WEEKS ENDING I— NOVEMBER 12 1980 FROM — SEP. AUG. — JUL. JUN. — MAY FEB. NOV. 10, 13, 9, II, M. 13, 14, 1980 I960 1980 1980 1980 1980 1979 M1LUQNS OCT. 8 165,743 166,168 NOV. 5 11 I 1 I 111 I I I I I I 2 FEB 16 30 14 28 II 25 MAR 1980 LATEST DATA PLOTTED WEEK ENDING: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis NOVEMBER 12. 1980 PREPARED BY FEDERAL RESERVE BANK OF ST. 11 LOUIS 176 12 LARGE TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES BILL 210 208 206 204 __ 11980 198 196 194 192 190 188 - 15 22 29 193.1 191.9 193.4 - 12 198 .7 208 206 --_ - 202 200 1 1 204 202 200 -iC - lz - 196 194 V- - r-V 192 - - V/1 _ v \ \r£ vr - IV - ~7 - 182 - 180 178 - 176 - 0 198 in 1 i 11 1 1 1 1 1 1 SEP OCT NOV DEC i in. 111 j.i t JAN 1 L-LL 1 1 1 FEB APR 1979 LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 12, MAY 111. JUN 1980 1 1 1 1 1 1 1-L 5 B 23 6 20 AUG 111 3 17 SEP 186 184 182 180 178 - 176 NOV 1980 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 188 - 1 ILL .-l.LL 1 15 B 12 25 OCT 190 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
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