Full text of U.S. Financial Data : Week Ending: November 26, 1969
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research library Federal Reserve tsarm of St. Louis u.s.Week ending: November 26,1969 FinflncmL drth ^JUJG ^ ? 1998 The money stock, showing essentially no growth since early June, continues to be a restrictive influence on the economy (page 4). This prolonged lack of signifi cant change can be attributed to the restraint on the growth of Federal Reserve credit, the policy determinant of the money supply (page 2). Federal Reserve credit has increased at a 3.4 per cent annual rate during this period, compared with a 6 per cent rate of growth from last December to June, and a 10 per cent increase in 1968. During 1969 total time deposits at banks and ^Wiher financial intermediaries have declined, as the rates these intermediaries are permitted to pay have been low relative to market interest rates. From December to July large negotiable certificates of deposit at large commercial banks declined by $9.8 billion, while growth rates of smaller types of deposits were slower than in 1968. During the last three months, smaller types of deposits have decelerated even more, probably due to the effect of interest rate ceilings on these deposits. The flow of funds through channels not subject to interest rate ceilings has continued to increase. Commercial paper outstanding averaged $31.1 billion in October, a $1.6 billion increase over September and a 54 per cent annual rate of increase from last December. Commercial paper outstanding )se at half this rate during 1968. Business loans at large commercial banks have not increased in recent weeks but show a 6.8 per cent annual rate of growth in the last three months. These loans in creased at an 11 per cent annual rate from December to early August (page 9). http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Changes in Selected Deposits Dec. 1968 to July 1969 Amount (billions) Time , Large CD's — Time less large CD' s Savings & Loan Mutual Savings Bank >te: $-7.2 -9.8 2.9 3.0 1.8 Rate —^ - 5.9% -59.9 2.8 4.0 4.8 Latest 3 months Available a/ Amount (billions) $-2.2 -1.7 - .9 .1 .4 Rate —^ - 4.5% -52.8 - 4.5 1.5 2.4 Data are seasonally adjusted except for large CDr&x 3L / — Latest three months available are the four weeks ending August 20 to the four weeks ending November 19 for time deposits and large CD's. Latest three months are July toy tober for remaining three deposit types. i / — Compounded annual rates of change except that the latest three-month changes in time deposits and large CD's are simple annual rates. — Negotiable certificates of deposit of $100,000 or more at large commercial banks. 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 28,1969 MONETARY BASE II FEDERAL RESERVE CREDIT^ Averages of Daily Figures Billions of Dollars 2 Billions of Dollars Seasonally adjusted by this bank. — .Annual rates of change, average of four weeks --ending Nov. 26, 1969 from four weeks ending: Monetary Base F.R. Credit -rAug. 27, 1969 _"May 28, 1969 __ Feb. 26, 1969 —I-Nov. 27, 1968 P _’june 11, 1969 -1957-1968 Monetary Base F.R.Credit Federal Reserve Credit 1/ 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. ‘ ■ 2/ Defined to include holdings of securities, loans, float, and "other" assets, adjusted ___for reserve requirement changes and changes in Latest data preliminary — requirements due to shifts in deposits among Latest data plotted week ending: Nov. 26, 19691 —' classes of banks. 10 24 7 21 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4 18 Sept. 16 30 13 27 11 25 Oct. Nov. Dec. 68 8 22 Jan. 5 19 Feb. 5 19 Mar. 2 16 30 14 28 Apr. May 11 25 9 23 June July 1969 V !U P- 6 20 Aug. 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 RESERVES All Member Banks in the Nation Averages of Daily Figures ----- Seasonally Ad justed TIT Billions of Dollars Billions of Dollars Annual rates of change, average of four weeks ending Nov. 26, 1969 from four weeks ending: “Aug. _ May Feb. — Nov. 27, 28, 26, 27, 1969 1969 1969 1968 June 11, 1969 1959-1968 TOTAL 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- London checks" as deposits subject to reserve requirements. 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 21 4 18 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. 26, 1969 2 16 30 13 27 11 25 16- 30 14 23 11 25 June 9 6 20 3 17 12 26 July Prepared by Federal Reserve Bank of St. Louis 10 24 ?ill i DEMAND DEPOSIT COMPONENT OF MONEY STOCK Averages of Daily Figures Seasonally Adjusted s of Hollars 171 170 169 168 ] Annual rates of change, average of four weeks ending Nov. 19, 1969 from four weeks ending: 167 166 165 164 -h £>* June 11, 1969 163 162 161 Dec. 25 - June 11 1957-1968 160 159 158 157 156 155 154 153 152 151 150 149 148 147 146 145 144 143 142 14 i 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 roiiiimmiifflffmr-ifff .Latest data preliminary Latest data plotted week ending* < http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Nov. 19, 1969 ttttj h) 1968 n 2/ n '() v. 9 Jan. 16 Apr. 30 14 28 11 May 25 June 20 Au". 3 17 Sept. i ic yq Ocf Prepared hv Federal Reserve Bank of St. MONE^TOCK Averages of Daily Figures Seasonally Ad us ted Billions of Dollars Billions oi Dollars 215 214 Annual rates of change, average of four _ weeks ending Nov. 19, 1969 from four — weeks ending: 213 / 99.1 212 “ Aug. 20, _ May 21, Feb. 19, Nov. 20, 1969 1969 1969 1968 211 199. 3 210 209 _ June 11, 1969 208 207 Dec. 25 - June 206 _ 1957-1968 205 204 203 202 201 200 199 198 197 196 195 194 193 192 191 190 189 188 “ Data include the annual revision of seasonal factors _ and benchmark adjustments of nonmember bank deposits. _ Current data appear in the Board's H.6 release. 1 1 i I I. ) -i_ I I I I I I I I I 1 1 __ Latest data, preliminary Nov. 19, 1969 2_ Latest data plotted week ending: 10 I I !7 I 24 July http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 4 ............ ..30 13 27 11 25 ...............111: 16 18 2 Sept. 1968 Nov. Dec. 8 22 187 186 185 5 19 5 19 Mar. 2 16 30 Apr. 14 28 May 11 25 9 June 1969 23 6 20 3 17 1 Sept. 15 29 12 26 Prepared by Federal Reserve Bank of St. Louis 10 24 Dec. 7 21 Jan. 1970 0 6 TIME DEPOSITS All Commercial Banks Averages of Daily Figures Seasona lly Ad Billions of Dollars Billions of CLc* . A / 9J.9 - _ 234 I i I I I I [ -----Annual rates of change, average of four weeks 969 from four weeks ending: ending Nov. 19, ~ U Feb. 19, 1969 Nov. 20, 1968 ---- 1957-1968 __ 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. -----Latest data preliminary 2~Latest data plotted week ending: 10 24 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 4 18 2 16 30 13 Nov. 19, 1969 27 11 Nov. 25 8 22 5 19 5 19 Mar. 2 16 30 14 28 11 25 9 23 July June 1969 6 20 Aug. 3 17 1 Sept. 15 29 12 26 Nov. Prepared by Federal Reserve Bank of St. Louis Dollars 10 24 Dec. 7 21 J an. MONEY STOCK S TIME DEPOSITS aily Figures Seasonally Adjusted Averages Billi of Dollars 432 430 428 426 424 422 420 Billions of Dollars ■Annual rates of change, average of four weeks ^ ending Nov. 19, 1969 from four weeks ending: - Aug. 20, — May 21, Feb. 19, Nov. 20, 1969 1969 1969 1968 -3.4 - /. 8 June 11, 1969 418 1957-1968 416 414 412 J9J A 410 408 406 404 402 400 398 396 394 392 390 388 386 384 382 380 378 376 374 372 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. TT~t 1 f I I I I I I I I I 1 l"1 t I I I I I | 11 I I I l Latest Data Preliminary Latest Data Plotted Week Ending: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 4 18 2 16 1968 30 13 Nov. 19, 1969 27 11 rfTTTT 25 19 b. 5 19 Mar. 2 16 30 14 28 Apr. May 11 25 June 9 23 July 1969 6 20 3 17 1 15 29 12 Prepared by Federal Reserve Bank of St. Louis 26 10 24 7 21 1970 CERTIFICATES OF DEPOSIT jl_ Large Commercial Banks Billions of Dollars Billions of Annual rates of change, ijata not seasonally . adjusted, average of four weeks ending Nov. 19, 1969 from four weeks ending: Aug. May Feb. Nov. 20, 21, 19, 20, ___Millions of Dollars _ A3 •4.0 <=37 to ' /7 1969 1969 1969 1968 /<3., /V9____ /SL, WVio____ <W4>-----/&,sn4------ /a, 07? — //, r-a-t — Se.pt. _ 1964-1968 ___ Current and year ago data appear in the 'Board's 11.4.2. release. -----1/ Negotiable time certificates of deposit ----- in denominations of $100,000 or more. _Latest data preliminary ;;—Latest data plotted: 10 24 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 Aug. 4 18 Sept. 2 16 30 I I I J..L 13 27 11 25 Dec. 8 Jan. 5 19 Feb. 5 19 Mar. 2 16 30 14 28 Apr. May 11 25 June 9 23 July 1969 6 20 Aug. 3 17 Sept. 1 15 29 12 26 Oct. Nov. Prepared by Federal Reserve Bank of St. Louis 10 24 Dec. 7 . Dollars BUSINE0LOANS Billions if 9 Large Commercial Banks Wednesday Figures ! 1 nrs Seasonal ly ad justed by this bank. Annual rates of change, average of tour weeks ending Nov. 19, 1969 from four weeks ending: Aug. May Feb. Nov. 20, 21, 19, 20, 1969 1969 1969 1968 y-1 /•0 MILLIONS OF DOLLARS - m.™™ “LLI : 7 7, S/ 7 7, 7 7, LT 7 7 c, r.j/ 7,. ,„yy 7 7, 77 9/7 7/,V/ 1 is 4" /2L Latest data preliminary Latest data plotted: http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7 / yu 77,77f 7 r, 7 s', V54, 77,7c V? 75', // 7 7f, n 7 7. 6V? 7 ^ 7 7. ~> 7 S 7 7, / / 7 - 7 if iff* 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, 19, 1969 rr~ o Sept. Jan. Sept. Oct. 1970 Prepared by Federal Reserve Bank of St. Louis YIELDS ON SELECTED SECURITIES Averages of Daily Rates Ended Friday Per Cent 9.50 3-5 Year 1969 Long Term Per Cent Corporate 9.50 7.07 9.00 7 /«* 7. 7.3t, 7. 13. 8.00 8.00 Prime Commercial Corporate Aaa Bonds 7. 6? 7.50 7. V9 - 7.50 TreasuryBill Market Yield 6.00 Long-Term Government Bonds Discount Rate 4.50 4.00 3.50 Latest data plotted are averages of rates available for the week ending: 12 26 9 23 6 20 4 1968 AGES OF RATES AVAILABLE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 15 29 13 7 Nov. Dec. 10 24 7 21 7 21 4 Nov. 28, 1969 I i . i i i I 18 June July 1969 22 Aug. 5 19 Sept. 3 17 31 14 Prepared by Federal Reserve Bank of St. Louis 2,9 1? 26 4 SELECTED SHORT-TERM INTEREST RATES Averages of Daily Rates Ended Friday Per Cent 11.00 Prime .Commercial Prime Paper Bankers' -4~^ Mogth Acceptances 90 Day .CD's ** S. / 3 S'. .TO 2.00 S.3S t Oo 2-1C ?. 13 2- /J. 2,38 s. ro 8,^~e S'. AT ?.63 2. 03 10.00 8. (o 0 Per Cent 11.00 9.50 10.50 S’, vT<5 8.2* 10.00 Federal Funds Rate ?.7f y-ar S’. As'' ?. Jj' 8^3 S'. U 3 S’.ss'a 9.00 S’. 63 ?■ OO S’. 63 2. 63 y. 8.50 8.00 4-to- 6 Month Bankers' Acceptance 7.50 6.50 6.00 Discount Rate sLatest data plotted are averages of rates available for the week ending: Sept. Oct. Npv. 28j 1969 June 8 22 Aug. 5 19 Sept. 3 17 31 14 * AVERAGES OF RAXES AVAILABLE; FEDERAL FUNDS LAST FIVE DAYS AVAILABLE ** SOURCE: SALOMON BROTHERS AND HUTZLER http://fraser.stlouisfed.org Federal Reserve BankSECONDARY MARKET RATE ON 90-DAY PRIME CD'S of St. Louis Prepared by Federal Reserve Bank of St. Louis 28 12 26 9 23 BORROWINGS AND EXCESS RESERVES All Member Banks in the Nation Averages of Daily Figures of Dollars BORROWING'S EXCESS 1969 RESERVES Suott 3 /o n Qct 1 % IS AA. IX n »1<B 12 Million? of Dollars 3,200 FREE RESERVES /A VO 3^ i /3 a- /£>/f -3*9 - S3 U Jjo // Ole /yJ4 94.7 3,000 -93S ?3 2>y /J9 17* /sc JA7 •3/0 3 Si 13*7 /our //93 73*7 /A9i /■3 7 43 P 07 / A. /J07 2,800 2,600 ~ ?o&. - UlL - fA) g ' - mjz 2,400 2,200 - 9*9. -/o^S'-S" —/c/7 - 99o -9*5 -//yy 2,000 Borrowings 1,800 s p 1,600 1,400 /jo 7 1,200 1,000 Excess Reserves - 200 - 400 - 600 - 800 1,000 - //r Y 1,200 - -1,400 Net Free Reserves -1,600 -1,800 2,000 - 2,200 - -2,400 -2,600 Latest data preliminary -Latest data plotted week ending: Nov. 26, 1969 -J—l—i_ l_ i__ i__ i_ i___i__ U.-l.-J__ i_ i__ i__ l_l _ _ _ _ _i—.—i_i_i 4 18 2 16 30 13 27 11 25 8 22 5 19 Sept. Oct. Nov. Dec. .Tan. Feb, 1968 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -2,800 2 16 30 Apr. 14 28 11 25 May June 9 23 July 1969 6 20 Aug. 3 17 Sept. 1 15 29 Oct. 12 26 Nov. 10 24 Dec. 7 21 Jan. Prepared by Federal Reserve Bank of St. Louis 3,000 4 18 4 18 Feb. Mar. 1970