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F//V/l/VC/>»t

t

0»r>l

Hgj.

Week ending: November 28, 1979

< tlBRARY
in*
CJWr

**m

.

—
interest rates have risen sharply since October 6, 1979, deposits in
interesPsensitive accounts at commercial banks have increased relative to other types of
deposits. For instance, money market certificates—time deposits whose ceiling rates may
fluctuate with market forces—increased by about $14 billion during the month of
October. Similarly, large denomination certificates of deposits, which are free of any
interest rate ceiling, increased by about $3 billion. Consequently, even though all other
time and savings deposits fell by over $8 billion, total time deposits increased by almost
$9 billion in October. The effect on the money stock (Ml) of such a sharp rise in time
deposits is reflected in the t-ratio (the ratio of total time deposits to demand deposits)
component of the money multiplier. As shown in the table below, total time deposits have
grown relative to demand deposits causing the t-ratio to increase sharply since the week
ending October 3.
As a consequence of this rising t-ratio, the money multiplier dropped
precipitously during the last three weeks of October and reached its lowest level for the
year in the week ending October 31 (see chart on page 3). Since then, as short-term
interest rates have declined and long-term interest rates have remained stable or
declined, the increase in time deposits relative to demand deposits has moderated.
Consequently, in more recent weeks the multiplier has rebounded somewhat from its sharp
drop in October.

DEMAND AND TOTAL TIME DEPOSITS AT COMMERCIAL BANKS
(Averages of Daily Figures; Billions of Dollars)*
Total Time Deposits

Week Ending

Demand Deposits

t-Ratio**

Multiplier

September

5
12
19
26

$ 638.2
640.3
642.7
644.1

$ 272.5
273.8
272.6
272.9

2.342
2.339
2.358
2.360

2.507
2.510
2.494
2.491

October

3
10
17
24
31

646.3
649.0
650.9
652.1
654.2

274.5
275.1
273.4
271.6
270.6

2.354
2.359
2.381
2.401
2.418

2.505
2.502
2.482
2.471
2.456

November

7
14
21

656.9
659.5
659.9

273.5
272.6
273.9

2.402
2.419
2.409

2.485
2.484
2.482

♦Seasonally Adjusted Data
**t-Ratio = Total Time Deposits
Demand Deposits


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

Prepared by Federal Reserve Bank of St. Louis

Released: November30, 1979

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
160

BILLIONS.

152.4
153.0

1

15 29

13

27

10

2

24

16 30

13 27

11

25

8 22

5

19

3

17

31

NOV

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 28.

DEC

1979

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), AND ( 3 ) AN ADJUSTMENT FOR RESERVE REQUIREMENT RAT 10 CHANGES.
TH| ___
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.
data do not

include

regulation k

reserves of

edge act corporations.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING-.
11/29/78

2/28/79

4/25/79

5/30/79

6/27/79

7/25/79

5. 1
6.8
7.8
8.4
9. 1
9.5
8.6

8.3
9.4
9.9
10.6
10.8
9.6

8/29/79

11.8
12.3

11.5
12.3

12.3

12. I

12. 1

12.0

12.6

10.4

10. 1

9.7

9. 1

9/26/79

TO THE AVERAGE
OF FOUR WEEKS
END I NG -.
4/25/79
5/30/79
6/27/79
7/25/79
8/29/79
9/26/79
10/31/79
11/28/79

5.7
5.6
6.5
7. 1
7.6
8.2
8.5
8.0


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

12.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

RATIO
2.9

RATIO
2.9

MULT PLIER

An

11ira
OCT • l7
24
. H

RATIO
1:11

~

if
111 1 1 II J..11
■J. 111.. 111

111 -ill -LLLL 1 1 1 .1.1 1 -LLLL diil 11111 1 1 1 l 1 1 i‘

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 21,

1979

BILLIONS OF DOLLARS
138 ---------- 1------------- 1---------- 1------------- —

BILLIONS OF DOLLARS
136

COMPOUNDED ANNUAL RA1[ES
-----OF CHANGE. AVERAGE OF
THE FOUR I^EEKS END 1 NC
~ NOVEMBER 28, 1979 FRC M
-----THE FOUR WEEKS END 1N(
-

SEP.
AUG.
—JUL.
_
JUN.
MAY
_

NO V.

26,
29,
25,
27,
30,
29|

1979
1979
1979
1979
1979
1978

-

TT

10.1
11.6
11.9
12.8
11.6

ADj USTED FEDERA L RESERVE ;red 1 t
-

9.2
Y

-

-

XT

"s. r

-

-

-

124
L379

-

OCT •

122

B ILL IONS

124

24
122

NOV

14

120

120
Mil

111 j..i 11

111

111

111

NOV
1978

DEC

FEB

MAR

APR

j..i

11

111

111 -U.il
11

JAN

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 28,

MAY

JUN
JUL
1979

28

jjjJ

Mill J_U_j
17 91

AUG

OCT

dill'

14 2t 12 2

NOV

DEC

1979

1/ RATIO OF MONEY STOCK (Ml ) / ADJUSTED MONETARY BASE
2/ fEDERAL_RESERyL.cREDcITuCONg,STSEOFLFEDERW?ERES|RVE HOLDINGS,OF SECURITIES, ..LOANS, FLOAT
AND
DEPOSITS
OTHER ATFEDERAL
ASSETS
RESERVE BANKS' ErSTTHIS SERIES '«I°ADJuItins ThTsER I ES^OR^rI^
DEPOSITS AT FEDEl_________________
---------------------------------------------------------DATA ARE coupuTE|j gy TH(J gANK
cn “ run
SERVE
REQUIREMENT RATIO CHANGES.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

0

4

MONEY STOCK PLUS NET TIME DEPOSITS (M2)
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

LLIONS OF DOLLARS

BILLIONS OF DOLLARS
------------------------- =, 965

BILLIQNS
OCT.

17

NOV.

938.7
937.0
942.4
944.5

I I I I
I

15 20 13 27

10 24

4

7 21

FEB

MAR

18

2 16 30

JUN

APR

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 21,

13 27

11

25

3

8 22

17 31

M 28

NOV

JUL

12 26

DEC

1979

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

MONEY STOCK PLUS NET TIME DEPOSITS (M2)
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
2/21/79 4/18/79 5/23/79 6/20/79 7/18/79 8/22/79 9/19/79
11/22/78
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/18/79
5/23/79
6/20/79
7/18/79
8/22/79
10/24/79
11/21/79

3.5
4.6
5.7
6.7
7.4
7.8
8. 1
7.9


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

7.9
9. 1
10. 1
10.4
10.7
10.7
10.2

11.1
12. 1
12.0
12. 1
11.8
1 1.0

13.7
13.0
12.9
12.4
1 1.3

12.9
12.8
12.2
1 1.0

12. 1
11.6
10.3

11.4
9.6

8.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

-

lflza

- OCT.

NOV.

BILL IQNS
378. 7
376. 8
376. 2
379. 5
378. 5

IIII

-

17
24
31
7
14

BILLIONS OF DOLLARS
390

1111

BILLIONS OF DOLLARS
390
i—

1111

A

T T I"

=

1

'V
A

=

K

1111

r

m m

\___ -

in i

»s/

>\yN. *

1

in i

.1.1

%

\

iiii

_LLLL

1

Illl ..Li 11 -LLL ILLL ILL .111. J_LL 1 1 1 1
4

18

OCT

I

15 20 13 27

NOV
1978

DEC

10 24

JAN

7 21

FEB

7 21

4 18

MAR

APR

2

LATEST DATA PLOTTED WEEK ENOING: NOVEMBER 21,

111

in

18 30 13 27

MAY

II

1111

in

AUG

SEP

2

JUN JUL
1979

IIII
3 17 31

OCT

111

ML

14 28 12 28

NOV

DEC

1979

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.

MONEY STOCK (Mi )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
M/22/78

2/21/79

4/18/79

5/23/79

6/20/79

7/18/79

8/22/79

9/19/79

0.5
2. 1
3.5
4.4
4.9
5.4
5.4
4.9

6.5
8. 1
8.7
8.6
8.9
8.4
7.4

1 1 .0
11.1
10.2
10.3
9.5
8.0

12.4
10.7
10.7
9.6
7.8

9.5
9.8
8.7
6.8

9.2
8.0
5.9

8.0
5.0

2.6

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/1 S/79
5/23/79
6/20/79
7/1 S/79
S/22/79
9/19/79
10/24/79
11/21/79


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY
16.0
15.5

15.5
15.0

14.5
14.0

14.0
13.5
13.0

12.5

12.5

PRIME BANK
LOAN RATE

12.0

11.5

I 1.5

11.0

I I .0
10.5

90 DAY CD'S***

10.0

COMMERCIAL PAPER

9.5
CORPORATE Aaa BONDS

9.0
8.5

8.0
7.5
7.0

MUNICI PAL
BONDS «x

6.5
6.0
I

OCT

JAN

NOV

FEB

APR

15 2B

13 27

10 24

0

7 21

MAY
1979

1978

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

1979
OCT.

NOV.

DEC.

90 DAY
CD'S x*W

PRIME
COfcMERC 1AL
PAPER

PRIME
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

MUNICIPAL
BONDS MX

12.01
12.75
13.61 ~
14.37
14.44
14.52
14.29
14.05
13.42

11.76
13. 18
13.32
14. 10
14.18#
14.18
13.70
13.44
12.68

12.04
13. 49
13.59
14.32
14.11
14.20
13.72
13.46
12.61

9.66
S. 91
10.09
10.50
10.73
10.83
10.75
10.83
10.64

6.64
7. 12
7. 18
7.38
7.26
7.27
7.31
7.38
N. A.

5
12
19
26
2
9
16
23
30 *
7
14
21
28

* AVERAGES OF RATES AVAILABLE.
** BONO BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS. THURSDAY DATA.
*** SEVEN-DAY AVERAGES OF SECONDARY MARKET RATES FOR THE WEEK ENDING WEDNESDAY TWO DAYS
EARLIER THAN DATES SHOWN.
~
N.A. - NOT AVAILABLE

#

Beginning November 1, 1979, data a^e 4-month commercial paper rates.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
16.0 rr

PERCENT
-za 16.0
15.5
15.0

14.5
14.0

14.0

12.5

12.0
11.5

10.5

FEDERAL FUNDS RATE

10.0

10.0
DISCOUNT RATE

3-5 YEAR
TREASURY SECURITIES

THREE-MONTH TREASURY
BILL MARKET YIELD

9

OCT

NOV
1978

DEC

JAN

23

FEB

9 23

MAR

6 20

4

APR

MAY

18

JUN

AUG

JUL

SEP

OCT

NOV

1979
OCT.

NOV.

DEC.

5
12
19
26
2
9
16
23
30 *
7

DEC

1979

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING-. NOVEMBER 30,

FEDERAL
FUNDS xx
1 1
12
13
15
15
13
13
13
12

91
00
22
14
61
77
30
10
46

3-MONTH
TREASURY
BILL
10
1 1
1 1
12
12
12
1 1
1 1
1 1

43
62
91
60
07
25
90
77
18

6-MONTH
TREASURY
BILL *ae«
10
10
1 1
12
12
12
1 1
12
1 1

33
66
72
65
19
09
95
04
02

1-YEAR
TREASURY
BILL
10
1 1
1 1
1 1
1 1
1 1
1 1
1 1
10

07
30
40
94
65
66
12
25
69

3-5 YEAR
TREASURY
SECUR1T1ES
9
10
10
1 1
1 1
1 1
10
1 1
10

72
48
79
57
43
36
97
08
40

1979

LONG-TERM
TREASURY
SECURITIES
9.31
9.77
9.99
10.36
10.36
10.47
10.34
10.31
9.96

21
28

* AVERAGES OF RATES AVAILABLE.
** S£XI£:PAY AYERAGES F0R WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE.

KXX 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.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

NET TIME DEPOSITS

ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS1
580 =—I—

565

- NOV.

560

17
24
31

7
14
21

iiu i

SILL

1979
OCT.

560. 1
560.
561 .
562.
565. 1
564. 7

TTTT TTTT

570

=-

E

<0"4f\

575

BILLIONS OF DOLLARS
580
e
575

/

555

_

llll

lili
z

z
TTTT TTTT

/

/

z

E

E
*1 | |
4 18
OCT

llll 1 1 1
llll
1 15 29 13 27 10 24
DEC
NOV
JAN

1 1 1
7 21
FEB

1 1 1
7 21
MAR

1 1 1
4 18
APR

iiii
111
LLJI
111
2 16 30 IS 27 11 25 8 22
JUL
JUN
AUG
MAY

LATEST DATA PLOTTED WEEK ENDING-. NOVEMBER 21.

111
5 19
SEP

llll 1 1 I
1 |
3 17 31 14 28 12 28
OCT
NOV
DEC

1979

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
* NET TIME DEPOSITS ARE DEFINED AS: SAVINGS DEPOSITS, T\ME DEPOSITS OPENI ACCOUNTr PLUS TIME
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:
11/22/78

2/21/79

4/18/79

5/23/79

6/20/79

7/18/79

8/22/79

9/19/79

5.7
6.4
7.3
8.3
9. 1
9.5
9.9
10.0

8.9
9.8
11.0
1 1 .7
1 1.9
12.2
12.1

11.2
12.7
13.3
13.3
13.4
13. 1

14.6
14.7
14.4
14.2
13.7

15.4
14.8
14.5
13.9

14. 1
14.0
13.3

13.6
12.8

12.5

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/18/79
5/23/79
6/20/79
7/18/79
8/22/79
9/19/79
10/24/79
11/21/79


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

555
550
545

525
520

E
TTTT

515

^

/

TTTT

520

560

llll

525

565

z

/

TTTT TTTT

530

E

TTTT

E
550

E

570

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

BILUQNS
OCT.

4

18

1

273.4
271.6
270.6
273.5
272.6
273.9

15 29 13 27

10 24

7 21

7 21

4 18

2

16 30 IS 27

JUN

1978

II

25

8 22

3 17 31

JUL

14 28

NOV

12 26

DEC

1979

LATEST DATA PLOTTED WEEK ENOING-. NOVEMBER 21. 1979
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE.

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
11/22/78

2/21/79

4/18/79

5/23/79

6/20/79

7/18/79

8/22/79

9/19/79

-2.4
-0.2
1.7
2.9
3.2
3.8
3.9
3.2

6.0
8. 1
8.8
8.2
8.3
7.9
6.5

12.0
12.0
10. 1
10.0
9. 1
7.2

13.5
10.4
10.2
9.0
6.8

8.3
8.7
7.7
5.3

7.3
6.5
3.9

7.0
3.3

0.6

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/18/79
5/23/79
6/20/79
7/18/79
8/22/79
9/19/79
10/24/79
11/21/79


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

CURRENCY COMPONENT
OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
110 ------------,--------------- r—

BILLIONS OF DOLLARS
-------- ---------------------- NO

billions

_

NOV.

105.2
105.2
105.6
105.9
105.8
105.9

I I I I
4

FEB

MAR

18

2

16 30

APR

13

JUN

27

11

25

8 22

3

17

JUL

LATEST DATA PLOTTED WEEK ENDING-. NOVEMBER 21.

31

14

28

NOV

1978

12

28

DEC

1979

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.

CURRENCY
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
11/22/78

2/21/79

9.0
8.7
8.8
8.8
9.6
10. 1
9.9
9.6

7.9
8.3
8.5
9.8
10.4
10. 1
9.7

4/18/79

5/23/79

6/20/79

7/18/79

8/22/79

9/19/79

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/18/79
5/23/79
6/20/79
7/18/79
8/22/79
9/19/79
10/24/79
11/21/79


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

8.4
8.7
10.5
1 1.2
10.7
10. 1

9.4
1 1.6
12.3
11.4
10.6

12.6
13.2
1 1.8
10.8

15.0
12.6
11.1

11.1
9.6

7.4

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

billions of

dollars

o
1979

MILLIONS

OCT. ?4

2960
3056
1928
1858
1865

I

IS

20

13

27

10 24

7

4

21

FEB

MAR

18

2

16

30

13 27

11

25

8 22

5

10

3

17

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 28,

31

14 28

NOV

JUN
JUL
1979

APR

12

28

DEC

1979

BUSINESS LOANS
(COMMERCIAL AND INDUSTRIAL)
WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
58

BILLIONS OF DOLLARS
158 --------- 1------------1--------- 1-----------156
154
152
150
148
146

—
ANNUAL RATI:s
AVERAGE OF

“ COMPOUNDED
OF CHANGE,
“ THE FOUR WEEKS ENDING
NOVEMBER 21. 1979 FRO» —
- THE FOUR WEfcKS ENDING
~
—
_
_

SEP.
AUG.
JUL.
JUN.
MAY
FEB.
“ NOV .

19, 1979
22, 1979
18, 1979
20, 1979
23, 1979
21. 1979
978
22,

V

cL

3.1
8.6
13.4
15.6
16.2
18.4
16.6

-

zL

-

144
142
140
138
136
134
132
130

-

-

0

154
152
150
148
146
144
142
140

-

-

-

1979

MILLIONS

_

OCT. 17
24
31

151,474
151,882
152,596

-

- ■
-

138
136
134
132

-

130
128

128
126

156

14
21

i.i
4

18

1

11. 1 l-L 1 1 II
15 2»

NOV
1978

13 27

DEC

LI 1

10 24

7

JAN

FEB

21

L-LL
7 21

I 1 1

MAR

APR

1 11 1

111

HM

111

AUG

SEP

151,070
150,739

-

1 M 1 M 1 1 1 HI 1

4

DATA PLOTTED WEEK ENDING: NOVEMBER 21,


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

1 1 1

MAY

JUN
JUL
1979

OCT

NOV

DEC

1979
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

126
0

12
CERTIFICATES OF DEPOSIT
LAR3E COMMERCIAL BANKS
WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

ILL IONS OF DOLLARS

1 12

BILLIONS

106

104

96.2

102
100

NOV
LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 21,
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS'

DEC

1979
H.6 RELEASE.

NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF •100,000 OR MORE BY LARGE
WEEKLY REPORTING COfcftCRCIAL BANKS.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS