Full text of U.S. Financial Data : Week Ending: November 5, 1975
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Week ending: November 5, 1975 The growth rates of the major monetary aggregates have slowed in the last three months, compared to the previous three months. The narrowly defined money stock (Ml) grew at a 0.7 percent annual rate in the most recent three months, in contrast to an 11.4 percent rate in the previous three months. The demand deposit component of Ml has shown a similar pattern, declining slightly in the last three months, in comparison to an 11.4 percent rate of growth in the previous three months. Growth of the currency component of Ml, which has slowed sub stantially since mid-July, has nevertheless increased more rapidly than demand deposits in the most recent period. The growth of net time deposits, which are added to Ml to obtain the broadly defined money stock (M2), slowed to an annual rate of 8.1 percent in the last three months from a 17.2 percent annual rate in the previous three months. Consequently, M2 increased at about a 4.7 percent rate in the most recent three months, in contrast to a 14.6 percent rate of growth from midApril through mid-July. Since mid-July the monetary base has increased at a 6.4 percent annual rate, compared to an 8.1 percent rate in the previous three months. Although Federal Reserve credit, the major component of monetary base, has grown more rapidly in this period as compared with the previous three months, it has been partially offset by large accumulations of Treasury deposits in Federal Reserve Banks. This, on balance, has restrained the growth of the monetary base. For the second consecutive week some commercial banks have lowered their prime lending rate (the rate charged by com mercial banks on short-term loans to large businesses with the highest credit standing). This week's reduction was from 7.75 to 7.5 percent. Other short-term interest rates have also moved downward over the last month. Rates on prime four- to six-month commercial paper and three-month Treasury bills are 81 and 68 basis points, respectively, below their levels of a month ago. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Released: November 7, 1975 MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS BILLIONS OF DOLLARS 122 -------- 1---------- 1---- 4 18 ---- ---------- -------- 2 16 30 13 27 NOV 1974 11 25 8 22 5 19 5 19 2 16 30 14 28 11 23 9 23 8 20 3 17 AUG DEC 1 IS 29 12 M SEP 1975 LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 5, 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 AM) 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 . AVERAGE OF FOUR WEEKS ENDING: 11/6/74 2/5/75 4/2/75 6.8 6. 1 5.9 7.5 6.7 6.8 6.6 6.6 7.3 6.7 9.2 7.7 7.6 7.3 7.3 3.7 8.6 6.7 6.8 6.5 6.5 5/7/75 6/4/75 7/2/75 8/6/75 9/3/75 9.7 8.9 7.9 7.7 4. 1 4.5 5.1 6.1 6.4 6.0 TO THE AVERAGE OF FOUR WEEKS ENDING: 4/ 5/ 6/ 7/ 8/ 9/ 10/ 11/ 2 2/75 7/75 4/75 2/75 6/75 3/75 8/75 5/75 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12.3 8. 1 7.9 7.3 7.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 122 MULTIPLIER^ FEDERAL RESERVE CRED I T 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO RATIO MULTIPLIER LATEST DATA PLOTTED WEEK ENDING: OCTOBER 29, 1975 BILLIONS OF DOLLARS 112 BILLIONS OF DOLLARS -----------,--------------.----- ---- ---------- -------- COMPOUNDED ANNUAL RATES ___OF CHANGE. AVERAGE OF THE FOUR *EEKS ENDING - NOVEMBER 5, 1975 FROM THE FOUR WgEKS ENDING: -----JUN. “ FEB. _ NOV _ 1975 1975 1975 1975 1975 1975 1974 34.2 24.1 9.7 3.1 7.9 11.6 10.5 FEDERAL RESERVE CREDIT 1975 4 18 2 18 30 13 27 NOV 11 DEC 25 8 22 5 19 5 19 FEB MAR 2 16 30 14 28 It 25 9 23 6 20 3 17 AUG MILLIONS SEP 1 15 29 12 26 1975 LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 5, 1975 1/ RATIO OF MONEY STOCK (Mil / MONETARY BASE. 2/ PST'NO-UDE HOLDINGS OF SECURITIES, LOANS, FLOAT AND ■■ OTHER" ASSETS ADJUSTED £®R^5E^ERVE REQUIREMENT RAT 10 CHANGES AND SHIFTS IN THE SAME TYPE OF DEPOSI t5 BETWEEN 8Y^HISHBANKDIFFERENT RESERVE REQUIREMENT RATIOS APPLY. DATA ARE SEASONALLY ADJUSTED http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 112 MONEY STOCK PLUS NET TIME DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 665 r-------- T-------------1----- SEP. 4 IS 24 2 BILLIONS OF DOLLARS ----- ------------- --------=1 665 654.8 655.8 656.3 659. 1 659.0 657.6 IS 30 13 27 11 NOV 1974 25 DEC 8 22 5 19 5 19 FEB MAR LATEST DATA PLOTTED WEEK ENDING* OCTOBER 29, MAY JUN 1975 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.8 RELEASE. MONEY STOCK PLUS NET TIME DEPOSITS (M2) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 7/2/75 7/30/75 8/27/75 1/29/75 3/28/75 4/30/75 5/28/75 10/30/74 TO THE AVERAGE OF FOUR WEEKS ENDING* 3/28/75 4/30/75 5/28/75 7/ 2/75 7/50/75 8/27/75 10/ 1/75 10/29/75 4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7.2 7.1 8.2 9.7 9.5 9.2 8.7 8.3 9.5 10.9 12.8 12.0 11.3 10.2 9.5 10.6 13.7 12.4 11.3 9.9 9.1 17.7 14.6 12.6 10.6 9.5 14.2 1 1 .7 9.5 8.5 7.1 5.9 5.4 5.0 4.7 4.0 PREPARED BY FEDERAL RESERVE BAM< OF ST. LOUIS MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 305 BILLIONS 293.5 293.7 293.4 294.7 294.3 292.9 300 295 290 285 280 ♦ 2 10 SO 13 27 It NOV 25 DEC 8 22 3 19 5 19 FEB MAR LATEST DATA PLOTTED WEEK ENDING: OCTOBER 29, 2 18 30 M 28 11 MAY 25 9 23 8 20 3 17 AUG JUN SEP 1 15 29 12 26 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. 10/30/74 1/29/75 3/26/75 4/30/75 5/28/75 7/2/75 7/30/75 8/27/75 TO THE AVERAGE OF FOUR WEEKS ENDING. 3/26/75 4/30/75 5/28/75 7/ 2/75 7/30/75 8/27/75 10/ 1/75 10/29/75 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3.0 2.8 4.3 6.2 5.6 5.5 5.0 4.3 6.0 7.9 10.2 8.6 8. 1 7.0 5.9 7.3 11.1 8.6 8.0 6.5 5.2 16.6 11.4 9.8 7.6 5.9 10.0 8.4 6. 1 4.4 2.7 1.8 0.6 2.4 0.7 -1.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT 13.0 12.5 12.0 11.5 11.0 10.5 PRIME BANK .OAN RATE 10.5 10.0 9.5 CORPORATE Aaa BONDS 9.0 8.5 8.0 7.5 MUNICIPAL 7.0 6.5 6.0 COMMERCIAL PAPER 5.5 5.0 SEP OCT 7 21 7 21 4 18 FEB 5 20 13 27 10 24 MAR 2 16 30 IS 27 11 APR JUN 25 8 22 5 10 3 17 31 14 28 JUL 1974 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi NOVEMBER 7, 1975 90 DAY CD'SHBBK 1975 SEP. 5 12 19 26 OCT. 3 10 17 24 31 NOV. 7 * 14 21 28 w avPRARFS PRIME COMMERCIAL PAPER 4-6 MONTH PRIME BANKERS* ACCEPTANCES CORPORATE AAA BONDS MUNICIPAL BONDSm 6.94 7.05 7.04 7.03 7.01 7.18 6.50 6.35 6. 16 6.45 6.75 6.75 6.93 6.95 6.93 6.88 6.59 6.23 6.00 6.07 6.82 6.85 6.82 6.81 6.79 6.59 6.38 6.02 5.83 5.83 8.93 8.94 8.98 8.94 8.96 8.92 8.85 8.81 8.77 8.76 7.34 7.40 7.49 7.54 f .Of 7.48 7.29 7.17 7.36 N.A. OF RATES AVAILABLE ££*BSEVEN^DAY AVERAGES6OF^lcONDARY MARKET^RATES^Oft THE^WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATES SHOWN. 6 N.A. - NOT AVAILABLE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS H.9 RELEASE. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 0 SELECTED SHORT-TERM INTEREST RATES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT 12.5 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 THREE' BILL H TREASURY T YIELD 6.5 DISCOUNT RATE 6.0 5.5 5.0 4.5 4.0 6 20 4 ia 1 15 20 15 27 10 24 7 21 7 21 4 II FEB MAR 2 16 30 13 27 11 25 APR 1974 6 22 5 19 3 17 31 14 26 1975 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING) NOVEMBER 7, 1975 1975 SEP. OCT. NOV. 5 12 19 26 3 10 17 24 31 7 * 14 21 28 FEDERAL FUNDS** 3-MONTH TREASURY BILLS 1-YEAR TREASURY BILL 3-5 YEAR GOVERNMENT SECURITIES LONG-TERM GOVERNMENT SECURITIES 6.06 6.15 6.28 6.29 6.36 6.06 5.82 5.73 5.65 5.17 6.38 6.43 6.45 6.38 6.46 6.23 6.01 5.73 5.58 5.55 7.07 7.14 7.31 7.21 7.16 6.74 6.51 6.29 6.02 5.91 8.07 8.26 8.34 8.18 8.22 8.00 7.87 7.67 7.50 7.44 7. 1 1 7.25 7.34 7.35 7.43 7.36 7.31 7.22 7.18 7.17 * AVERAGES OF RATES AVAILABLE. SBK 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 370 BILLIONS 365 361.3 362. 1 362.9 364.4 364.6 364.7 360 355 350 345 340 335 330 325 320 4 18 2 18 30 13 27 11 NOV 25 DEC 8 22 5 19 5 19 FEB MAR 2 16 30 14 28 11 25 9 23 6 20 3 17 AUG SEP 1 13 29 12 26 1975 LATEST DATA PLOTTED WEEK ENDING: OCTOBER 29, 1975 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. *NET J,1 ME DEPOSLIS ARE,DEF[NED AS: SAVINGS DEPOSITS, TIME DEPOSITS OPEN ACCOUNT PLUS TIME CERT IF ,.?iT5S„°L.DEP0S,T 0THER ™AN NEGOTIABLE TIME dERT IF I CATES 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: 10/30/74 1/29/75 3/26/75 4/30/75 13.6 16.2 15.7 14.2 12.7 12.4 18.6 17.2 14.9 12.9 12.5 5/28/75 7/2/75 7/30/75 8/27/75 7.0 8. 1 8.3 TO THE AVERAGE OF FOUR WEEKS ENDING: 3/26/75 4/30/75 5/28/75 7/ 2/75 7/30/75 8/27/75 10/ 1/75 10/29/75 8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10.7 10.9 11.5 12.8 13.0 12.4 1 1.8 11.7 12.7 13.4 15. 1 14.9 13.9 12.8 12.6 17.8 14.6 12.3 12.0 10.8 9. 1 9.5 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS i DEMAND DEPOSIT COMPONENT OF MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 221.4 221.7 221.0 222. 1 221.9 220.2 4 18 2 16 SO 93 27 11 NOV 1974 25 DEC 8 22 3 19 S 19 FEB MAR 2 16 30 14 28 11 25 9 23 6 20 3 17 AUG 1 IS 29 12 28 SEP 1975 LATEST DATA PLOTTED WEEK ENDING: OCTOBER 29, 1975 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE, 10/30/74 AVERAGE OF FOUR WEEKS ENDING: 1Z29/75 3/26/75 4/30/75 5/28/75 5.4 7.5 10. 1 8.3 7.7 6.5 5. 1 6.9 11.3 8.4 7.5 6. 1 4.3 17.5 11.4 9.5 7.3 5.0 9.9 7.9 5.7 3.3 7/2/75 7/30/75 8/27/75 TO THE AVERAGE OF FOUR WEEKS ENDING: 3/26/75 4/30/75 5/28/75 7/ 2/75 7/30/75 8/27/75 10/ 1/75 10/29/75 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0.9 0.9 2.7 4,9 4.3 4.2 3.8 2.9 1.2 0.7 -1.1 1.6 -1.1 -3. 1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS WEDNESDAY FIGURES NOT SEASONALLY ADJUSTED BILLIONS OF DOLLARS 98 ---------- ------------- -------- 4 18 2 16 30 13 27 11 NOV 25 8 22 5 19 5 19 FEB DEC MAR 2 16 30 14 28 11 MAY 25 BILLIONS OF DOLLARS ------- ------------- ---------- 98 9 23 JUN 1975 6 20 3 17 AUG SEP 1 IS 29 12 26 LATEST DATA PLOTTED WEEK ENDING. OCTOBER 29, 1975 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. WfcbKLY REPORTING COMMERCIAL BANKS. 1975 SEP. 3 10 17 24 OCT. 1 8 15 22 29 NOV. 5 12 19 26 1T ISSUED IN DENOMINATIONS OF #100,000 OR MORE BY LARGE CERTIFICATES CERTIFICATES OF DEPOSIT OF DEPOSIT NOT SEAS. ADJ. SEAS. ADJ. 81.5 82. 1 82.2 83.1 84.1 84.2 83.9 83.5 83.6 77. 1 78. 1 78.7 79.7 80.9 81.6 81.4 81.0 81.3 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 AVERAGES OF DAILY FIGURES billions of dollars billions of dollars 1975 4 1C 2 1C 90 1C 27 11 25 NOV • 22 5 1C 5 1C FEB DEC MAR 2 1C 30 14 2C 11 25 MAY C 29 • 20 3 17 AUC JUN 1975 MILLIONS SEP 1 15 2C 12 2C LATEST DATA PLOTTED WEEK ENDING) NOVEMBER 5, 1975 BUSINESS LOANS (COMMERCIAL AND BILLIONS OF DOLLARS INDUSTRIAL) WEEKLY REPORTING LARGE COMMERCIAL BANKS SEASONALLY ADJUSTED BILLIONS OF DOLLARS 134 152 150 128 126 124 122 120 118 COMPOUNDED ANNUAL RATES — OF CHANGE, AVERAGE OF — THE FOUR WEEKS ENDING OCTOBER 29. 1975 FROM _ THE FOUR WEEKS ENDING. __AUG. JUL. " JUL. — MAY _ APR. JAN. “OCT. 4 1C 27, 30, 2, 28, 30, 29, 30, 1975 1975 1975 1975 1975 1975 1974 -1.3 -4.3 -4.3 -7.5 -8.7 -10.9 -7.6 2 1C 30 15 27 11 25 NOV 1974 DEC 116 MILLIONS . 112 SEP. 24 110 108 ' C 22 5 19 5 19 FEB 2 16 SO 14 20 11 25 9 25 JJJ_LLL MAR LATEST DATA PLOTTED WEEK ENDING. OCTOBER 29, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 114 6 20 3 17 1 IS 29 12 2C 1975 1975 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MEMBER BANK DEPOSITS SUBJECT TO RESERVE REQUIREMENTS (CREDIT PROXY ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING OCTOBER 29r 1973 FROM THE FOUR WEEKS END I Wt CREDIT CREDIT ---------PROXY - AUG. -0.7 .CREDIT PROXY ADJUSTED 1/ CREDIT PROXY CREDIT PROXY 498.2 498.2 499.4 300.2 500.3 ADJUSTED 305.3 503.3 506.9 507.9 508.7 507.0 I I Li I I I I I 11 I I I 11 4 16 2 16 30 16 27 11 15 NOV DEC 6 22 3 19 FEB 3 19 MAR LATEST DATA PLOTTED WEEK ENDING: OCTOBER 29, 2 16 30 1 4 26 11 23 MAY JUN 9 23 6 20 3 17 1 15 29 12 1975 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE. 1/ INCLUDES MEMBER BANK DEPOSITS, BANK-RELATED COMMERCIAL PAPER, EURODOLLAR BORROWINGS OF U.S. BANKS, AND CERTAIN OTHER NONDEPOSIT SOURCES. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS