Full text of U.S. Financial Data : Week Ending: October 10, 1973
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Week ending: October 10, 1973 M&i LIBRARY JUN 0 8 1979 The nation’s money stock has changed little in the past three months, after a rapid rate of increase of 11 percent in the previous three months■> On average, the money stock has increased at a 5.3 percent annual rate in the past six months, the same as in the past year. For comparison, money increased at a 6.3 percent average rate from 1967 to 1972. The monetary base, the movements of which have a dominant influence over movements of money, has also exhibited slower growth recently. The base has increased at a 4.3 percent annual rate in the past three months, as compared with a 7.5 percent rate in the previous three months. From 1967 to 1972 the base grew at an average rate of 6.1 percent, about the same as money. Recently, several short-term market interest rates have declined sharply. Three-month Treasury bill rates averaged 7.14 percent early this week, down substantially from the 8.94 percent in mid-September. Also registering large declines, the secondary market 90-day CD rate averaged 9.70 percent this week, compared with almost 11 percent three weeks ago. In recent weeks long-term interest rates have generally declined from their August peaks. Yields on long-term Government securities averaged 6.19 percent early this week, down from almost 7 percent in early August. Seasoned corporate Aaa bond rates averaged 7.58 percent early this week, down somewhat from 7.77 percent in the latter part of August. The Bond Buyer's Index of 20 municipal bonds was 5<>04 percent in early October, compared with 5.59 percent two months earlier. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Released: October 12, 1973 f • MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS BILLIONS OF DOLLARS 104 MILLIONS 102 100 98 96 94 2 16 30 15 27 SEP II 25 9 22 6 20 3 17 31 OCT 1972 14 26 14 26 II FEB MAR 25 0 23 APR 6 20 JUN 1973 4 16 1 15 2» 12 26 10 24 JUL LATEST DATA PLOTTED WEEK ENDING. OCTOBER 10. 1973 USES OF 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 1966 ’•REVIEW OF THIS BANK. COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING: 10/11/72 2/7/73 3/7/73 4/11/73 5/9/73 6/13/73 7/11/73 8/8/73 TO THE AVERAGE OF FOUR WEEKS ENDING. 3/ 7/73 4/11/73 5, 9/73 6/13/73 7/11/73 8/ 8/73 9/12/73 10/10/73 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9.7 10. 1 9.9 9.3 9.2 8.8 8. 1 8.0 11.5 10.5 9.2 9. 1 8.4 7.5 7.3 10.3 8.8 8.7 8.0 7.0 6.8 7.2 7.5 6.9 5.9 5.9 7.0 6.4 5.3 5.4 6.6 5.1 5.3 3.7 4.3 4. 1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MULTIPLIER u FEDERAL RESERVE CRED I T 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO RATIO MULTIPLIER RATIO AUG. 29 2.591 2.61 1 OCT. LATEST DATA PLOTTED WEEK ENDING: OCTOBER 3, 1973 BILLIONS OF DOLLARS 94 ------ i----- ,- BILLIONS OF DOLLARS -------- ------ 94 COMPOUNDED ANNUAL RATES __ OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING - OCTOBER 10, 1973 FROM THE FOUR WEEKS ENDING: ~~ AUG. 8, 1973 -8.3 - JUL. 11, 1973 -4.2 JUN. ........... 1973-1.2 — MAY 1973 MAR. 1973 FEDERAL RESERVE CREDIT 1973 SEP. MILLIONS OCT. 2 16 30 13 27 11 25 6 22 6 20 3 17 St 14 26 14 26 ’.1 25 9 23 6 20 4 16 1 IS 29 12 26 10 24 LATEST DATA PLOTTED WEEK ENDING: OCTOBER 10, 1973 1/ RATIO OF MONEY STOCK ( Ml ) / MONETARY BASE. 77 DEFINED TO INCLUDE HOLDINGS OF SECURITIES, LOANS. FLOAT AND ''OTHER*' ARRETR An lllRTEn cl*Ise! SI°Sawseni mtawe'seJonallv smFT5 m °ep6sits http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis cob PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS DEMAND DEPOSIT COMPONENT OF MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED billions of dollars 1973 billions of dollars billions 203.3 203.7 204.0 203.5 201.8 204.6 2 16 30 13 27 11 25 6 22 6 20 3 17 31 14 28 14 28 II 25 9 23 1972 6 20 4 18 1 15 29 12 26 10 24 1973 LATEST DATA PLOTTED WEEK ENDING: OCTOBER 3, 1973 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. COMPOUNDED ANNUAL RATES 0^ CHANGE, AVERAGE OF FOUR WEEKS ENDING: 10/4/72 1/31/73 2/28/73 5.7 4.0 4. 1 5.8 6. 4 6.2 5.2 4.4 2.7 3.3 6.7 7.7 7. 1 5.5 4.2 0.6 5.9 7.3 6.6 4.9 3.6 4/4/73 5/2/73 10.9 11.3 9.5 6.7 4.8 14.4 11.1 7.1 4.8 6/6/73 7/4/73 8/1/75 0. 3 -1.4 -3.6 TO THE AVERAGE OF FOUR WEEKS ENDING: 2/28/73 4/ 4/73 5/ 2/73 6/ 6/73 7/ 4/73 8/ 1/73 9/ 5/73 10/ 3/73 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8.0 3.8 1.7 PREPARED BV FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 275 ------ ,----- ,- BILLIONS OF DOLLARS - ----- ------- 275 - BILLIONS AUG. 29 263.8 263.6 261.8 264.6 6 20 AUG SEP OCT 1972 NOV DEC JAN FEB LATEST DATA PLOTTED WEEK ENDING: OCTOBER 3, MAR 4 18 JUN APR JUL ’ 15 29 12 26 10 24 1973 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. - • £T\f\3 - €T\a COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS FNDING: 10/4/72 1/31/73 2/28/73 4/4/73 5/2/73 6/6/73 7/4/73 8/1/73 TO THF AVERAGE OF FOUR WEEKS ENDING: 2/28/73 4/ 4/73 5/ 2/73 6/ 6/73 7/ 4/73 8/ 1/73 9/ 5/73 10/ 3/73 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6.6 5.3 5.6 6.8 7.2 6.8 6.0 5.3 4. 4 5.3 7.7 8.3 7.4 6. 1 5. 1 3.4 7. 1 8.0 7.0 5.5 4.5 11.0 11.0 9.1 6.8 5.3 12.7 9.6 6.6 4.9 6. 9 3.9 2.4 0.9 -0.2 -1.5 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 6 } TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS TOTAL TIME DEPOSITS NET TIME DEPOSITS * 2 16 30 13 27 11 25 SEP 8 22 6 20 3 17 31 4 28 14 28 II 25 FEB OCT 9 23 1972 6 20 4 18 JUN MAR JUL ! 15 29 12 26 10 24 1973 LATEST DATA PLOTTED WEEK ENDING: OCTOBER 3, 1973 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 DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 10/4/72 TO THE AVERAGE OF FOUR WEEKS ENDING: 2/28/73 4/ 4/73 5/ 2/73 6/ 8/73 7/ 4/73 8/ 1/73 9/ 5/73 10/ 3/73 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/31/73 2/28/73 4/4/73 5/2/73 6/6/73 11.0 10.8 10.7 10.5 10. 1 9,7 10.2 10.0 8. 1 8.6 8.9 8.5 8. 1 9. 1 9.0 9.9 9.8 9. 1 8.5 9.6 9.4 9.8 8.8 8. 1 9.6 9.3 8.4 7.5 9.5 9. 1 6.2 9.4 9.0 7/4/73 8/1/73 10.7 9.7 11.5 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK PLUS TIME DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 630 BILL TONS OF DOLLARS 630 MONEY STOCK PLUS TOTAL TIME DEPOSITS MONEY STOCK PLUS NET TIME DEPOSITS** 2 16 30 13 27 11 25 AUG SEP OCT 1972 6 22 NOV 6 20 DEC 3 17 31 14 21 14 26 11 25 JAN CEB MAR APR 9 23 MAY 6 20 JUN 1973 4 16 1 JUL 15 29 12 26 10 24 AUG SEP OCT LATEST DATA PLOTTED WEEK ENDING: OCTOBER 3. 1973 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS H.6 RELEASE. ** Mz IS DEFINED AS: CURRENCY, DEMAND DEPOS1TS PLUS NET TIME DEPOSITS (SEE PAGE 6). MONEY STOCK PLUS NET TIME DEPOSITS (M2) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 10/4/72 1/31/73 2/28/73 8.9 8.2 8.2 8.7 8.7 8.3 8.2 7.7 6.2 6.9 8.3 8.3 7.7 7.6 7.0 6.7 8.5 8.6 7.8 7.7 7.0 4/4/73 5/2/73 10.4 9.9 8.6 8.2 7.3 10.4 8.5 8. 1 7. 1 6/6/73 7/4/73 6.5 6.7 5.7 5.9 4.8 8/1/73 TO THE AVERAGE OF FOUR WEEKS ENDING; 2/28/73 4/ 4/73 5/ 2/73 6/ 6/73 7/ 4/73 8/ 1/73 9/ 5/73 10/ 3/73 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5. 1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS ^ u 7 8 CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS WEDNESDAY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS I I I I 25 2 16 30 15 27 1 6 22 6 20 5 17 91 14 26 14 26 H 25 CEB MAR 9 25 6 20 4 16 1 lb 29 12 26 10 24 APR '973 1972 LATEST DATA PLOTTED WEEK ENDING: OCTOBER 3, 1973 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 6100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS. MONEY ANO TIME DEPOSIT DATA 1973 AUG. 1 8 15 22 29 SEP. 5 12 19 26 OCT. 3 10 17 24 31 CERTIFICATES OF DEPOSIT BILLIONS NET TIME DEPOS1TS * 65.5 66.2 67.3 67.4 67.6 67. 1 67.4 68. 1 66.9 65.3 284.6 285.5 285.9 287.2 287.3 288.4 287.9 288. 1 289. 1 290.0 M2 m 548.4 549. 1 550.3 552. 1 550.2 552.2 551.9 551.6 550.9 554.6 * SEE FOOTNOTE PAGE 6. nee SEE FOOTNOTE PAGE 7. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis t I MEMBER BANK DEPOSITS SUBJECT TO RESERVE REQUIREMENTS (CREDIT PROXY ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 455 r----- ----- --- BILLIONS OF DOLLARS -------- ----- -] 455 CREDIT PROXY ADJUSTED 1/ CREDIT PROXY 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 14 28 11 25 9 23 1972 6 20 1 15 29 12 26 10 24 1973 LATEST DATA PLOTTED WEEK ENDING: OCTOBER 3, 1973 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. 1/ ?E,P2?IJ2' BANK-RELATED COMMERCIAL PAPER, EURODOLLAR BORROWINGS OF U.S. BANKS, AND CERTAIN OTHER NONDEPOSIT SOURCES. 1973 BILLIONS. CRED1T PROXY AUG. SEP. 29 5 12 19 26 OCT. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3 CRED1T PROXY ADJUSTED 435.7 437.9 439.8 439.0 437.3 440.7 443.2 445.2 446.7 446.6 444.8 447.8 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING OCTOBER 3. 1973 FROM THE FOUR WEEKS ENDING: CREDIT CREDIT PROXY PROXY ADJUSTED AUG. JUL. JUN. MAY APR. FEB. OCT. 1 . 4, 6, 2, 4, 28, 4, 1973 1973 1973 1973 1973 1973 1972 11.4 9.0 9.9 10.3 10.3 12. 1 12.2 12.2 10.4 11.1 11.4 1 1.3 13.1 12.9 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT 9.5 - PERCENT --- 9.5 CORPORATE Aaa BONDS THREE-MONTH TREASURY BILL MARKET YIELD MUNICI PAL BONDS sat DISCOUNT RATE 1 1 1 1 1 1 1 1 1 1 1 1 1 15 29 13 27 10 24 8 22 DEC NOV OCT SEP 1972 1 1 1 5 19 JAN 1 1 1 2 16 FEB 1 1 1 1 III 1 1 1 1 1 1 2 16 30 13 27 11 25 8 22 MAY JUN MAR APR 1973 1 1 1 6 20 JUL 1 1 1 1 III i ll.m 3 T7 3T 14- 26 T2. 26 AUG SEP OCT LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK END INGt OCTOBER 12, 1973 CORPORATE Aaa BONDS 1973 AUG. SEP. OCT. 3 10 17 24 31 7 14 21 28 5 12 * 19 26 3-MONTH TREASURY BILLS 3-5 YEAR GOVERNMENT SECUR1T1ES LONG-TERM GOVERNMENT SECURITIES MUNICIPAL BONDS s* 7.53 7.61 7.71 7.77 7.73 7.64 7.63 7.65 7.60 7.59 7.58 8.30 8.70 8.88 8.71 8.62 8.80 8.94 8.38 7. 13 7.42 7.14 8.02 8.16 7.80 7.50 7.35 7.27 7.45 7. 10 6.85 6.87 6.77 6. 90 6.97 6.83 6.74 6.62 6. 45 6.52 6.43 6. 28 6.27 6.19 5.59 5.58 5.47 5. 44 5.34 5. 18 5.18 5.05 5,00 5.04 N. A. * AVERAGES OF RATES AVAILABLE. it* BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA. N,A, - NOT AVAILABLE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS SELECTED SHORT-TERM INTEREST RATES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT 11.0 r— — n.o 10.0 FEDERAL FUNDS RATE PRIME BANK LOAN RATE COMMERCIAL PAPER 4 18 1 15 29 13 27 10 24 8 22 5 19 2 16 JAN FEB 2 16 30 13 27 11 25 1972 8 22 6 20 3 17 31 14 26 12 26 1973 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: OCTOBER 12, 1973 1973 AUG. 3 10 17 24 31 SEP. 7 14 21 28 OCT. 5 12 * 19 26 PRIME COMMERCIAL PAPER 4-6 MONTH FEDERAL FUNDS x* PRIME BANKERS' ACCEPTANCES 90 DAY CD’S *% 9.88 10.05 10.25 10.25 10.45 10.38 10.48 10.45 9.65 9.38 9. 13 10.57 10.39 10.39 10.52 10.79 10.79 10.74 10.80 10.84 10.72 9.87 9.85 10.15 10.25 10.25 10.25 10.25 10.35 10.43 9.75 9.50 9.38 10. 14 10.52 10.81 10.71 10.93 10.93 10.90 10.97 10.37 9.63 9.70 * AVERAGES OF RATES AVAILABLE. 5Blf 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. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS *? J . BORROWINGS FROM FEDERAL RESERVE BANKS ALL MEMBER BANKS 1973 IN THE NATION AVERAGES OF DAILY FIGURES billions of dollars billions of dollars MILLIONS 2363 BORROWINGS 1707 1519 2 16 30 13 27 11 25 8 22 6 20 3 17 31 M 28 14 28 11 25 9 23 6 20 JUN l 973 1972 4 16 1 IS 29 12 26 10 24 JUL LATEST DATA PLOTTED WEEK ENDING. OCTOBER 10, 1973 BUSINESS LOANS BILLIONS OF DOLLARS ( COMMERCIAL AND INDUSTRIAL ) WEEKLY REPORTING LARGE COMMERCIAL BANKS SEASONALLY ADJUSTED BILLIONS OF DOLLARS 114 ~ COMPOUNDED ANNUAL RATES OF CHANGE — AVERAGE OF THE FOUR WEEKS ENDING _ OCTOBER 3, 1973 FROM THE FOUR WEEKS ENDING: — BUS I NESS — BUSINESS LOANS _ LOANS AQJ.USIED 112 1 10 108 BUSINESS LOANS ADJUSTED 1/ ~ AUG. 1 — JUL. 4 _ JUN. 6 MAY 2 — APR. 4 —_FEB. 28 _ OCT. 4 106 16.4 104 102 100 98 96 MILLIONS 94 BUSINESS LOANS BUSINESS BUS I NESS LOANS LOANS ADJUSTED' AUG. 29 SEP. 5 92 90 88 86 I I I I I I 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 14 28 II 9 23 6 20 4 18 1 15 29 12 26 10 24 1973 LATEST DATA PLOTTED WEEK ENDING. OCTOBER 3, 1973 1/ INCLUDES LOANS SOLD OUTRIGHT BY COMMERCIAL BANKS TO OWN SUBSIDIARIES, FOREIGN BRANCHES, HOLDING COMPANIES, AND OTHER AFFILIATES. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS