Full text of U.S. Financial Data : Week Ending: November 9, 1977

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Week ending: November 9, 1977

Since early May of this year, there has been a
substantial upward movement of interest rates. This upward
LIBRARY adjustment has been most pronounced in short-term rates. For
example, yields on three-month Treasury bills have risen by
6 1979 165 basis points from late April to an average rate of
6.16 percent in the most recent week. The rise in rates
spread to the intermediate range in July. Yields on 3-5
year Treasury securities have risen 71 basis points from early
July to the most recent week. Long-term interest rates
have remained fairly stable over the past several months.
However, in recent weeks there has been a small upward movement
of these rates. Since early September interest rates on
long-term Treasury securities have risen 30 basis points.

YIELDS ON SELECTED TREASURY SECURITIES
Period
(Average of Rates
for Weeks Ending)
1977 March 11

3-Month
Treasury
Bills

3-5 Year
Treasury
Securities

Long-Term
Treasury
Securities**

4.63 %

6.77 %

7.60 %

April 29

4.51

6.59

7.51

May 13

4.96

6.78

7.61

June 10

5.06

6.68

7.48

July 8

5.12

6.60

7.43

August 12

5.47

6.90

7.54

September 9

5.65

6.86

7.41

October 7

6.09

7.05

7.53

November 11*

6.16

7.31

7.71

* Averages of rates available.
** Rates on long-term Treasury securities are computed by this Bank.


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

Prepared by Federal Reserve Bank of St. Louis
Released: November 11, 1977

MONETARY BASE

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

BILLIONS
128.4
127.8

130

128.5
129.0
129.2

128

126

124

122

120

118

116

114

112

I

15 29 13 27

10 24

8 22

OCT
NOV
1976

5 19

2

JAN

FEB

16

2

16 30 13 27 11

APR

8 22

6 20

3 17 31

14 28 12 26

9 23

MAY
1977

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 9,

1977

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 AND THE GOLD STOCK. DATA ARE COMPUTED BY THIS BANK. A DETAILED DE­
SCRIPTION OF THE MONETARY BASE IS AVAILABLE FROM THE FEDERAL RESERVE BANK OF ST. LOUIS.

MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE
11/10/76

2/9/77

4/6/77

5/11/77

AVERAGE OF FOUR WEEKS ENDING:
6/8/77

7/6/77

10.7
10.4
10.9
10.7

10.7
11.2
10.8

8/10/77

9/7/77

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/ 6/77
5/11/77
6/ 8/77
7/ 6/77
8/10/77
9/ 7/77
10/12/77
11/ 9/77

2

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

7.7
8.3
7.4
7.7
8.2
8.3
8.7
8.8

9.3
7.5
8.0
8.6
8.8
9.3
9.3

6.8
7.8
8.8
8.9
9.5
9.5

5.9
8.0
8.4
9.3
9.3

11.1
10.6

1 l .0

PREPARED 67 FEDERAL RESERVE bANK OF ST. LJUIS

MULTIPLIER i/
ADJUSTED FEDERAL RESERVE CREDIT*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
3.0

3.0
2,9

2.9

2.8

2.8

MULT IP LIER
2.7

2.7
2.6

r

\y

2.6

\

2.5
2.5

197T

2.4

SEP.
OCT.
2.3
NOV.

Ilj i i hi -LLL -11 1 1 -LLL -111 JJ 1 1
1.1.1 111 HIM _l.ll

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 2,

28
5

2.581
2.603

19
H

2.' 592
i:18?

lll.ll '

N 11'

2.4

—

11111

BILLIONS OF DOLLARS

--- ,-- .-

---- -------- ----------

COMPOUNDED ANNUAL RATES
---- OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING
- NOVEMBER 9
1977 FROM
THE FOUR weeks ENDING:

SEP.
AUG.
JUL.
----- JUN.
MAY
~ FEB.
__ NOV.

ADJUSTED FEDERAL RESERVE CREDIT

-

1977

12.4

1976

1911

SEP

OCT
NOV
1976

DEC

JAN

FEB

MAR

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 9,

IT 31

APR

MAY

BILLIONS

M 28 12 26

SEP

9 23

OCT

1977

1/ RATIO OF MONEY STOCK (Ml ) / MONETARY BASE.


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

2.3

1977

BILLIONS OF DOLLARS

112

RATIO

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

<12

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

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
810

billions

792.8
799.0
800. 1
799.0
801.0
798. 1

790
-3 785
780
-3 775
770
765
760
755
750
-3 745
740
-3 735
730

720
-3 715
710
.705
1

15 29 13 27

10 24

8 22

S 19

2 16

JAN

FEB

2

16 30 13 27

APR

11

25

8 22

6 zo

3 IT 31

H 28 12 26

9 23

MAY

1976

1977

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 2,

1977

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

MONEY STOCK PLUS NET TIME DEPOSITS (M2)
COMPOUNDED ANNUAL RATES OF CHANGE,
11/3/76

2/2/77

3/30/77

AVERAGE OF FOUR WEEKS ENDING:

5/4/77

6/1/77

6.7
10.8
9.4
9.4
9.2

13. 1
10.5
10.3
9.9

6/29/77

8/3/77

8/31/77

11.7
11.0
10.3

7.5
7.7

9.0

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/30/77
5/ 4/77
6/ 1/77
6/29/77
8/ 3/77
8/31/77
10/ 5/77
11/ 2/77


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

4

10.2
10.8
10. 1
9.8
10.8
10.2
10.2
10.0

10.2
9. 1
8.8
10.5
9.7
9.7
9.5

9.8
9.2
11.4
10.2
10. 1
9.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0

MONEY STOCK ( Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
340 -------------,---------- 1-----

BILLIONS OF DOLLARS
----- ---------- ------------- 340

BILLIONS
329.6
334.2
334.5
333.3
334.6
331.2

— OCT

1

15 29 13 27

10 24

8 22

5 19

2

JAN

FEB

16

2

16 30 13 27

11

25

8 22

6 20

3 17 31

14 28 12 26

9 23

1976
LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 2,

1977

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 tMi )
COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING:
11/3/76
2/2/77 3/30/77
5/4/77
6/1/77 6/29/77
8/3/77 8/31/77
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/30/77
5/ 4/77
6/ 1/77
6/29/77
8/ 3/77
8/31/77
10/ 5/77
11/ 2/77


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

3.9
6.7
5.9
5.6
7.4
6.9
7.3
7.4

9.4
7.2
6.5
9.0
8. 1
8.5
8.5

10.7
8.5
11.6
9.9
10. 1
9.8

2.0
8.6
7.2
8. 1
8.0

12.5
9.4
9.8
9.5

12.1
11.7
10.8

7.3
7.4

9.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

10.0

PERCENT

—I 10.0

(—

CORPORATE AM BONDS

PRIME BANK
LOAN RATE

MUNICIPAL

BONDS**

COMMERCIAL PAPER

3 17

I

15 29 12 26 10 24

7 21

JAN

FEB

OCT

MAR

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE-FOR THE WEEK ENDINGs NOVEMBER 11,

1977
SEP.

2
g
16
23
30
OCT.
7
14
21
28
NOV.
4
1 1 *
18
25

NOV
1977

90 DAY
CD’S seiae

PRIME
COMMERCIAL
PAPER
4-6 MONTH

PRIME
BANKERS'
ACCEPTANCES

CORPORATE
AM BONDS

MUNICIPAL
BONDS **

5.98
5.97
6. 10
6.22
6.37
6.43
6.58
6.80
6.72
6.67
6.74

6.00
5.99
6.19
6.22
6.30
6.39
6.54
6.66
6.61
6.61
6.62

5.93
5.98
6.19
6.22
6.30
6.48
6.64
6.62
6.53
6.69
6.66

7.92
7.90
7.89
7.92
7.96
7.99
8.04
8.05
8.06
8.08
8. 10

5.54
5.48
5.51
5.50
5.51
5.60
5.70
5.67
5.59
5.55
N.A.

^Av|ifo^iloNDARV KeLrATES^OR TH^WEEK ENDING WEDNESDAY TWO DAYS
*** EARLIERTHANDAtII SHOWN
N.A. - NOT AVAILABLE

6

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

SELECTED

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

8.0

INTEREST RATES
PERCENT
----- 8.0

—

7.5

3-5 YEAR
TREASURY SECURITIES

7.0

6.5

6.0

FEDERAL FUNDS RATE
5.5
✓

DISCOUNT RATE

^

__f

5.0

4.5

THREE-MONTH TREASURY
BILL MARKET YIELD

4.0

0

3

17

SEP

1

15 29

OCT

12 26

NOV
1976

10 24

7 21

4

DEC

JAN

FEB

18

4

18

MAR

1

15 29

APR

13 27

MAY

10 24

JUN
1977

8

22

JUL

5

19

AUG

2

16 30

SEP

M 28

OCT

11

25

NOV

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: NOVEMBER 11, 1977

1977
SEP.

OCT.

NOV.

2
9
16
23
30
7
14
21
28
4
11 *
18
25

FEDERAL
FUNDS X*

3-MONTH
TREASURY
BILLS

1-YEAR
TREASURY
BILL

3-5 YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

6.02
5.97
6.05
6.10
6.35
6.41
6.41
6.50
6.49
6.50
6.58

5.56
5.65
5.86
5.90
5.89
6.09
6.32
6.17
6.09
6.20
6.16

5.98
6.04
6.14
6.15
6.21
6.38
6.61
6.59
6.49
6.60
6.56

6.84
6.86
6.93
6.93
6.98
7.05
7.21
7.30
7.32
7.36
7.31

7.40
7.41
7.45
7.47
7.49
7.53
7.61
7.62
7.64
7.70
7.71

* AVERAGES OF RATES AVAILABLE.
SB* SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE.
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

NET TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
475

billions

470

463.2
464.8
465.6

465
460

466,9

455
450
445
440
435
430
425
420
415
410
405
1

IS 29 13 27

10 25

8 22

5 19

2

JAN

FEB

16

2

18 30 13 27

11

1976

8 22

6 20

3 17 31

15 28 12 26

9 23

1977

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 2,

1977

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
* NET TIME DEPOSITS ARE DEFINED AS: SAVINGS DEPOSITS. TIME DEPOSITS OPEN ACCOUNT 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 DEPOS1TS
COMPOUNDED ANNUAL RATES OF CHANGE,
11/3/76

2/2/77

3/30/77

AVERAGE OF FOUR WEEKS ENDING:

5/4/77

6/1/77

10.2
12.3
11.0
10.4
10. 1

13.6
11.5
10.6
10.2

6/29/77

8/3/77

8/31/77

11.7
10.5
10.0

7.7
7.9

8.5

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/30/77
5/ 4/77
6/ 1/77
6/29/77
8/ 3/77
8/31/77
10/ 5/77
11/ 2/77

8


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

15.2
14.0
13.3
13.1
13.4
12.8
12.3
12.0

10.8
10.4
10.5
11.5
10.9
10.5
10.3

9. 1
9.7
11.3
10.5
10. 1
9.9

PREPAREO 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
250

BILLIONS
242.9
245
243.7

240

235

230

225

1

15 29 15 27

10 24

8 22

5 19

2 16

JAN

FEB

2

16 30 13 27

APR

11

25

8 22

6 20

3 17 31

14 28 12 26

9 23

MAY

1976

1977

LATEST DATA PLOTTED WEEK ENDINGt NOVEMBER 2,

1977

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

DEMAND DEPOS1T COMPONENT OF MONEY STOCK
COMPOUNDED ANNUAL RATES OF CHANGE . AVERAGE OF FOUR WEEKS ENDINGt
11/3/76

2/2/77

3/30/77

5/4/77

2.4
6. 1
4.9
4.6
6.8
6.2
6.7
6.7

9.6
6.6
5.9
8.9
7.8
8.3
8. 1

10.9
8.3
12. 1
10.0
10.2
9.7

0.0
8. 1
6.4
7.5
7.3

6/1/77

6/29/77

8/3/77

8/31/77

12.5
12.1
10.7

6.6
6.4

8.9

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/30/77
5/ 4/77
6/ 1/77
6/29/77
8/ 3/77
8/31/77
10/ 5/77
11/ 2/77


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

13.3
9.4
9.9
9.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

CURRENCY COMPONENT
OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
90

BILLIONS
86.7
86.9

SB

87L 5
86

84

82

80

78

I

15 29 13 27

10 24

8 22

OCT
NOV
1976

5 19

JAN

2 16
FEB

2

16 30 13 27

APR

II

8 22

6 20

3 17 31

MAY

14 28 12 26

SEP

9 23

OCT

1977

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 2, 1977
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

CURRENCY
COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING:
11/3/76

2/2/77

3/30/77

8.3
8.4
8.6
8.4
9.0
8.9
9. 1
9.3

9.2
9.3
8.7
9.6
9.3
9.6
9.8

9.5
8.5
9.8
9.4
9.8
10.0

5/4/77

6/1/77

8. 1
10.0
9.5
9.9
10. 1

10. 1
9.4
10.0
10.2

6/29/77

8/3/77

8/31/77

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/30/77
5/ 4/77
6/ 1/77
6/29/77
8/ 3/77
8/31/77
10/ 5/77
11/ 2/77


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

10

10.8
11.0
11.0

9.9
10.2

1 1 .3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

dollars

1.977.

BILLIONS OF DOLLARS
----- ---------- ------------- 2.5

MILLIONS

1443
11 13

1

15 29 13 2T

10 24

8 22

OCT
NOV
1976

5 19

2

JAN

FEB

16

2

16 30 13 2T

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 9,

6 20

3 IT 31

14 26 12 28

9 23

1977

BUSINESS LOANS

( COMMERCIAL
BILLIONS OF DOLLARS
126 ----------------------- -----

AND

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
----- ---------- ------------- 126

_ COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
— THE FOUR WEEKS ENDING
— NOVEMBER 2. 1977 FROM
— THE FOUR WEEKS ENDING: .
— AUG
— JUN
FEB.
— NOV.

1977
1977
1977
1977
. 1977
2, 1977
3, 1976

1 111 II

14.4
13.7
8.4
9.5
9.2
8.0
7.1

MILLIONS

■

SEP. 28

.
'

NOV.

2

111 I I I
6 20

JAN

FEB

APR

1976
LAT<?t DATA PLOTTED WEEK ENT TNG: NOVEMBER 2,


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

MAY

3 IT 31

14 28 12 26

SEP

9 23

OCT

1977
1977
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

billions of dollars

billions

66.3

67.6
67.7

69.4

1

IS 29

IS 27

OCT

10 24

NOV

* 22

5

19

JAN

2

I*

2

IB 30

FEB

LATEST DATA PLOTTED WEEK ENDINGs NOVEMBER 2,

IS 27

APR

II

2S

8 22

MAY

6 20

3

17 31

14 2*

SEP

12 2*

9 23

OCT

1977

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.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS