Full text of U.S. Financial Data : Week Ending: November 28, 1973

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

Week ending: November 28r 1973

library

JUN 0 8 1979

Growth of the monetary base has a significant
influence on the trend growth of the money stock. Over short
periods growth of the base and money sometimes differ. However,
over periods of one year or more, growth rates of the base and
money have usually been similar, as illustrated in the table at
the bottom of this page. In the past year the monetary base has
increased 7.4 percent.
Federal Reserve credit, currently accounting for more
than 85 percent of the Government's net monetary liabilities, is
the largest source of the monetary base and dominates trend
movements of the base. Since a year ago this aggregate,
adjusted for reserve requirement changes and shifts in deposits,
has risen 8.4 percent, while the monetary base, which also
includes an adjustment for changes in required reserves, has
risen 7.4 percent. Over short periods changes in other sources
of the base can be large, relative to changes in Federal Reserve
credit, and can significantly influence the growth rate of the
base. Since mid-July Federal Reserve credit on a seasonally
adjusted basis has decreased at a 3.4 percent annual rate on
balance. The monetary base, however, has increased at a 4.8
percent seasonally adjusted rate in this period, due largely to
the increase in the official dollar value of the U.S. gold stock
in late October, and decreases in average U.S. Treasury balances
at Federal Reserve Banks.
Growth of the Monetary Base and Money Stock*

Monetary Base**
Money Stock


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Federal Reserve Bank of St. Louis

1969

1970

1971

1972

3.2
3.6

6.2
6.0

7.0
6.6

8.8
8.3

Figures represent a change from December of the previous year
to December of the given year.
Computed by the Federal Reserve Bank of St. Louis.

Prepared by Federal Reserve Bank of St. Louis
Released: November 30, 1973

MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
106

MILLIONS

104

102

100

98

96

I

13 29 13 27 10 24

7 21

7 21

4

FEB

MAR

APR

18

2

16 30 19 27

II

25

8 22

5 19

3 17 31

H 28 12 26

NOV

1972

DEC

1973

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 28, 1973
USES OF MONETARY BASE ARE MEMBER BANK RESERVES AND CURRENCY HELD BY THE PUBLIC AND N0N4EMBER
BANKS, ADJUSTED FOR RESERVE REQUIREMENT CHANGES AND SHIFTS IN DEPOSITS. FOR A DESCRIPTION
OF THE BASE SEE THE AUGUST 1968 "REVIEW' OF THIS BANK.

COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING:

11/29/72

3/28/73

4/25/73

5/30/73

6/27/73

7/25/73

8/29/73

9/26/73

10. 1
9.0
8.7
8.9
7.9
7.4
7.7
7.4

7.8
7.4
8. 1
6.5
5.9
6.7
6.4

5.4
6.9
5.4
4.8
6.0
5.7

8.4
5.7
4.9
6.2
5.9

5.3
4.4
6.2
5.8

1.9
5.1
4.8

7.1
6.1

7.7

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
■4/25/73
5/30/73
6/27/73
7/25/73
8/29/73
9/26/73
10/31/73
11/28/73


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MULTIPLIER 1/
FEDERAL RESERVE CRED I T 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

RATIO

MULTIPLIER

RATIO

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 21, 1973
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
94

COMPOUNDED ANNUAL RATES
__ OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
- NOVEMBER 28, 1973 FROM
THE FOUR WEEKS ENDING:
SEP.
- AUG.
JUL.
---- JUN.

26,
29,
25,

1973
1973
1973

92
FEDERAL RESERVE CREDIT

90

8.9
2.4
-3.4

88
0.8

-

__ NOV.

86

84
82
973

MILLIONS
80

78

4 18

I

15 29 13 27

10 24

7 21

7 21

FEB

MAR

4 18

2 18 90 13 27 11

23

8 22

3 IS

3 17 31

14 28 12 28

NOV

1972

DEC

1973

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 28, 1873
1/ RATIO OF MONEY STOCK (Ml ) / MONETARY BASE.
2/ DEFINED TO INCLUDE HOLDINGS OF SECURITIES, LOANS, FLOAT AND "OTHER" ASSETS, ADJUSTED FOR
RESERVE REQUIREMENT CHANGES AND CHANGES IN REQUIREMENTS DUE TO SHIFTS IN DEPftsiTS AMONG
CLASSES OF BANKS.
DATA ARE SEASONALLY ADJUSTED BY THIS BANK.


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Federal Reserve Bank of St. Louis

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

aiLL|QN$
205.2

202.2
205.9
206.3
206.5

I

15 29 13 2T 10 21

7 21
FEB

1 IS

2 16 30 I3 27 II 25

8 22

3 17 31

MAR

M 28 12 28
NOV

1972

DEC

1973

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 21,
CURRENT DATA APPEAR

19T3

IN THE BOARD OF GOVERNORS' H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS END 1NG
11/22/72

3/21/73

4/18/73

3/23/73

6/20/73

3.0
4.6
6. 1
6.3
5.4
4.3
3.9
4.7

6.2
9. 1
8.9
6.7
4.6
4.0
5. 1

13.5
1 1.7
8.2
5.4
4.6
5.8

1 1.9
6.9
3.7
3. 1
4.7

3.2
0.2
0.4
2.8

7/18/73

8/22/73

9/19/73

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
4/18/73
5/23/73
6/20/73
7/18/73
8/22/73
9/19/73
10/24/73
11/21/73


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

-3.1
-1.6
1.7

-2.2
2.6

6.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
275

billions

265.6
262.7
~ NOV

270

266.5
267. 1
267.5

265

260

255

250

4 IS

1

IS 29 IS 27 10 21

7 2I
FEB

7 21
MAR

4 18
APR

2 16 30 IS 27 II

1972

5 19

3 17 31 14 28 12 26
NOV
DEC

1973

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 21, 1973
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING:

11/22/72

3/21/73

4/18/73

5/23/73

6/20/73

7/18/73

8/22/73

9/19/73

4.8
6.0
7.0
7.0
6. 1
5.2
4.9
5.5

7.9
9.7
9.1
6.9
5.4
4.8
5.7

12.5
10.8
7.7
5.7
5.0
5.9

10.4
6.3
4. 1
3.6
4.9

3. 1
1.2
I .4
3.4

-1.3
-0.1
2.5

-0.2
3.5

6.5

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
■4/18/73
5/23/73
6/20/73
7/18/73
8/22/73
9/19/73
10/24/73
11/21/73


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

TOTAL TIME DEPOSITS

NET TIME DEPOSITS K

4

19

1

19 29 19 27

10 24

7 2t

7 21

4

FEB

MAR

APR

18

*

l« SO 13 17

JUN

II 13

• 22

9 19

9 17 91

14 t« 12 t»

NOV

JUL

DEC

LATEST DATA PLOTTED WEEK ENDING, NOVEMBER 21, 1979
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.« RELEASE.
* NET TIME DEPOSITS ARE DEFINED AS, SAVINGS DEPOSITS. TIME DEPOSITS OPEN ACCOUNT PLUS Tli
CERTIFICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN
DENOMINATIONS OF $100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS.

NET TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING,
11/22/72

3/21/73

4/18/73

5/23/73

8/20/73

7/18/73

8/22/73

10. 1
9.9
9.9
9.3
9.7
9.8
10.3
10.7

9. 1
9.3
8.3
9.2
9.4
10.3
10.9

9.3
8.0
9. 1
9.5
10.4
11.1

7.4
9.2
9.6
10.7
11.5

8.9
9.6
10.9
1 1 .8

11.6
12.6
13.3

13.0
13.8

9/19/73

TO THE AVERAGE
OF FOUR WEEKS
ENDING,
•4/18/73
5/23/73
6/20/73
7/18/73
8/22/73
9/19/73
10/24/73
11/21/73


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Federal Reserve Bank of St. Louis

15.1

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
630
-S

620

MONEY STOCK PLUS TOTAL TIME DEPOSITS
610

M

600
590

-g 580
"I

570

4f 560

550

MONEY STOCK PLUS hET TIME DEPOSITS*

I

IS 29 IS 27 10 24

7 21

7 21

4

FEB

MAR

APR

IS

2

16 SO 13 27 II

23

S 22

S 19

9 17 31

JUN
JUL
1973

1972

=

540

=

530

=

520

14 2S 12 26

NOV

DEC

LATEST DATA PLOTTED WEEK ENDING) NOVEMBER 21. 1973
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
* Mt IS DEFINED AS> CURRENCY, DEMAND DEPOSITS PLUS NET TIME DEPOSITS (SEE PAGE 8).

MONEY STOCK PLUS NET TIME DEPOSITS CM2 )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGi
11/22/72

3/21/73

4/18/73

5/23/73

6/20/73

7/18/73

8/22/73

9/19/73

7.5
8.0
8.5
8.2
7.9
7.6
7.7
8. 1

8.5
9.5
8.6
8. 1
7.5
7.6
8.3

10.9
9.4
8.5
7.7
7.9
8.6

8.7
7.8
6.9
7.3
8.3

6. 1
5.5
6.3
7.7

5.3
6.5
8.1

6.6
8.8

10.9

TO THE AVERAGE
OF FOUR WEEKS
ENDINGi
4/18/73
5/23/73
6/20/73
7/18/73
8/22/73
9/19/73
10/24/73
11/21/73


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

8

CERTIFICATES OF DEPOSIT

LARGE COMMERCIAL BANKS
WEDNESDAY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

62

4 18

I

15 29 13 27 10 24

T 21
FEB

7 21
MAR

4 18
APR

2 18 90 19 27 11

■ II

9 IS

9 IT 91 14 IS II t«
NOV
DEC

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 21, 1973
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF *100,000 OR MORE BY LARGE
WEEKLY REPORTING COMMERCIAL BANKS.


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Federal Reserve Bank of St. Louis

MONEY AND TIME DEPOSIT DATA

1973
OCT.

NOV.

DEC.

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

CERTIFICATES
OF DEPOSIT

BILLIONS
NET TIME
DEPOSITS*

64.9
63.9
63. 1
63.2
62.5
61.7
60.8
60.9

290.4
291.5
292.5
293.3
294.7
295.0
295.8
295.2

M2 MS
555.1
555.1
558.0
556.0
559.6
561.5
562.8
562.8

* SEE FOOTNOTE PAGE 6.
« SEE FOOTNOTE PAGE 7
PREPARED BY FEDERAL RESERVE BANK OF ST

LOUIS

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

BILLIONS OF DOLLARS
455 i-------- ------------- -----

BILLIONS OF DOLLARS
-------- ---------- --------=□ 455

CREDIT PROXY ADJUSTED 1/

CREDIT PROXY

I

15 29 13 27

10 24

7 21

7 21

4 18

2 18 30 13 27

II 25

8 22

5 19

3 17 31

14 28 12 28
NOV

LATEST DATA PLOTTED WEEK ENDING] NOVEMBER 21,
CURRENT DATA APPEAR

IN THE BOARD OF GOVERNORS'

1973
H.9 RELEASE.

U INCLUDES MEMBER BANK DEPOSITS, BANK-RELATED COMMERCIAL PAPER,
U.S. BANKS, AND CERTAIN OTHER NONDEPOSIT SOURCES.

1973

OCT.
NOV.

BILLIQNS

17
24
31
7
14
21


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Federal Reserve Bank of St. Louis

CREDIT
PPQXY

CREDIT
PROXY
ADJUSTED

441.1
438.2
439.3
440. 1
439.7
439.2

448.3
445.0
445.8
446.8
446.3
446.6

DEC

EURODOLLAR BORROWINGS OF

COMPOUNDED ANNUAL RATES OF CHANGE
AVERAGE OF THE FOUR WEEKS ENDING
NOVEMBER 21. 1973 FROM THE FOUR
WEEKS ENDIN6.
CREDIT
CREDIT
PROXY
fPQKY
ADJUSTED
SEP.
AUG.
JUL.
JUN.
MAY
APR.
NOV.

19.
22,
18.
20.
23.
18,
22.

1973
1973
1973
1973
1973
1973
1972

2.0
3.5
6. 1
6.7
7.2
8.0
10.8

1.3
3.4
6.5
7.3
7.9
8.6
11.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT
----- 9.5

9,5 i—

CORPORATE Am BON)S

DISCOUNT RATE

r“\

y
MUNICIPAL
BONDSm

6 20
OCT

3 17
NOV
1972

t

13 29 12 26

DEC

JAN

9 23

FEB

9 23

MAR

6 20

4

APR

MAY

It

I

15 29 13 27

JUN

JUL
1973

10 24

7 2

3 19

AUG

SEP

OCT

2 16 30 14 26

NOV

DEC

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING! NOVEMBER 30, 1973

1973
OCT.

NOV.

DEC.

5
12
19
26
2
9
16
23
30 X
7
M
21
28

CORPORATE
Am BONDS

3-MONTH
TREASURY
BILLS

3-5 YEAR
GOVERNMENT
SECURITIES

LONG-TERM
GOVERNMENT
SECURITIES

MUNICIPAL
BONDS**

7.59
7.56
7.58
7.64
7.65
7.67
7.69
7.68
7.65

7.42
7.14
7. 16
7.07
7.38
8.12
8. 1 1
7.72
7.62

6.89
6.77
6.80
6.80
6.83
7.03
7. 16
6.90
6.79

6.27
6.20
6.27
6.28
6.27
6.33
6.35
6.29
6.28

5.04
4.99
5.05
5.12
5.17
5.19
5.27
5.13
N.A.

* AVERAGES OF RATES AVAILABLE.
*0* BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS,
N.A. - NOT AVAILABLE


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Federal Reserve Bank of St. Louis

THURSDAY DATA.

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED SHORT-TERM

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
n.o i—

PERCENT
— n.o

FEDERAL FUNDS RATE
PRIME BANK
LOAN RATE

COMMERCIAL PAPER

6 20

3 17

I

OCT

NOV
1972

DEC

13 29 12 26

JAN

9 23

FEB

9 23

MAR

6 20

4 16

APR

MAY

1

15 29 13 27

JUN
JUL
1973

10 24

7 21

5 19

AUG

SEP

OCT

2

16 30 14 26

NOV

DEC

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: NOVEMBER 30. 1973

1973
OCT.

NOV.

DEC.

5
12
19
26
2
9
16
23
30 K
7

PRIME
COMMERCIAL
PAPER
4-6 MONTH

FEDERAL
FUNDS ME

PRIME
BANKERS’
ACCEPTANCES

90 DAY
CD’S MM

9.38
9.13
9.03
8.56
8.28
8.69
9.08
9.09
9.09

10.72
9.87
10.07
9.98
9.90
9.71
10.03
10.23
10.09

9.50
9.28
9.00
8.81
8.50
8.69
8.75
8.75
8.75

9.63
9.70
9.36
9.15
8.53
8.91
9. 10
9.39
9.3-4

M

21
28

* AVERAGES OF RATES AVAILABLE.
» FEDERAL FUNDS AND CD RATES ARE SEVEN-DAY AVERAGES FOR WEEK ENDING
WEDNESDAY TWO DAYS EARLIER THAN DATES SHOWN. CURRENT DATA APPEAR IN
THE BOARD OF GOVERNORS’ H.9 RELEASE.
CD DATA ARE SECONDARY MARKET RATES.

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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

BILLIONS OF DOLLARS
3,0 r-------- 1-------------1----1371

MILLIONS

OCT. 2-4

1912

NOV.

1170
1521
1569
1288

7
14
28

4 18

1

OCT

NOV
1972

borrowing;

IS 29 IS 27 10 2 4

DEC

BILLIONS OF DOLLARS
-------- ---------- --------=3 3.0

JAN

7 21

7 21

4 18

2

FEB

MAR

APR

MAY

LATEST DATA PLOTTED WEEK ENDING,

NOVEMBER 28,

18 SO 13 27

JUN

II

23

JUL
1973

8 22

AUG

5 19

S 17 Si

SEP

OCT

14 28 12 28

NOV

DEC

1973

BUSINESS LOANS

( COMMERCIAL

BILLIONS OF DOLLARS

AND

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

~ COMPOUNDED ANNUAL RATES OF CHANGE
— AVERAGE OF THE FOUR WEEKS ENDING
------------------1973 FROM THE FOUR

BILLIONS OF DOLLARS
114
1 1Z

-BUSINESS LOANS ADJUSTED 1/

110

BUS I NESS
BUSINESS
LOANS
IQANS
ADJUSTED
-6.9

108

-7.5
106
104

102
100

BUSINESS LOANS

98
96
MILLIONS
BUSINESS _
LOANS
BUSINESS
jLflAig- ADJUSTED----OCT. 17

109,965___

94
92
90
88
86

4 18

I

15 29 IS 27 10 24

4 18

7 21

FEB

MAR

2 18 30 13 27

11

25

8 22

3 19

3 17 SI

14 28 12 28

NOV

APR

1972

DEC

1973

LATEST DATA PLOTTED WEEK ENDING, NOVEMBER 21, 1973
1/ INCLUDES LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS TO OWN SUBSIDIARIES, FOREIGN BRANCHES,
HOLDING COMPANIES, AND OTHER AFFILIATES.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS