Full text of U.S. Financial Data : Week Ending: October 11, 1972
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Ota; f Week ending: October 11, 1972 LIBRARY JUN 0 5 1979 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Both money (M^) and money plus net time deposits (1^2) have increased at relatively rapid rates so far this year. Mj_ has expanded at an 8 percent annual rate since the four weeks ending January 5, a period of nine months. Growth of was at an 11 percent rate in the first three months of this period, a 5 percent rate in the second three months, and a 7.8 percent rate in the most recent three months. For comparison, grew at a 5.9 percent trend rate from late 1966 to late 1971 and at a 2.3 percent trend rate from 1952 to 1966. M2 has risen at a 10.5 percent rate in the past nine months, compared with an 8.2 percent trend rate from late 1966 to late 1971. Business loans at all commercial banks have expanded rapidly in recent months after a lull during the late spring and early summer. Since January business loans have increased at a 10.9 percent annual rate. For comparison, business loans grew at a 5.8 percent rate in 1971 and at only a 3.8 percent rate during the recession year of 1970. An acceleration in the growth rate of business loans, as in the past two years, usually accompanies faster expansion of economic activity. Short-term market interest rates have risen in 1972. Yields on three-month Treasury bills averaged 4.70 percent in the three days ending October 11, compared with 3.18 percent in February. Yields on four- to six-month commer cial paper averaged 5.25 percent in the first part of this week, compared with a 3.93 percent last February. The rate charged on bank loans to prime business customers is currently at 5-3/4 percent. The prime rate is now only 50 basis points above the four- to six-month commercial paper rate, down from an average differential of 70 basis points last February. Prepared by Federal Reserve Bank of St. Louis Released: October 13, 1972 •I MONETARY BASE u MULTIPLIER^ AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING OCTOBER I 1, 1972 FROM THE FOUR W&EKS ENDlNGt AUG. 9, 1972 4.8 MONETARY BASE 1972 MILLIONS LATEST DATA PLOTTED WEEK EfOINGt OCTOBER 11, 1972 RATIO RATIO 2.9 2.8 MULTIPLIER 2.7 2,6 2.5 RATIQ AUG. 30 2.4 4 18 1 15 29 13 27 10 24 OCT 1971 NOV 8 22 5 10 2 10 JAN FEB I 15 29 12 20 10 24 7 21 5 19 JUN JUL 2 16 30 13 27 SEP I 25 OCT 1972 LATEST DATA PLOTTED WEEK ENDlNGt OCTOBER 4, 1972 1/ USES OF MONETARY BASE ARE MEMBER BANK RESERVES AND CURRENCY HELD BY THE PUBLIC AND NONMEMBER BANKS, ADJUSTED FOR RESERVE REOUIREMENT CHANGES AND SHIFTS IN DEPOSITS. FOR A DESCRIPTION OF THE BASE SEE THE AUGUST 1968 ''REVIEW" OF THIS BANK. 2/ RATIO OF MONEY STOCK (Ml J / MONETARY BASE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 0 RESERVES AVAILABLE TO SUPPORT PRIVATE NONBANK DEPOSITS^ ALL MEMBER BANKS FEDERAL RESERVE CREDIT*/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 32.0 COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF _ THE FOUR WEEKS ENDING OCTOBER II, 1972 FROM THE FOUR WEEKS ENDINGt 9, 1972 10.5 “ 12, 1972 11.0 14, 1972 10.1 10, 1972 9.3 ~ 12, 1972 9,2 8, 1972 9.2 OCT, 13, 1971 8.7 _ 31.5 31.0 30.0 BILLIONS OF DOLLARS 32.0 31 .5 31 .0 30.5 30.0 RESERVES 29.5 29.0 29.0 ILLIONS 31.40 30.46 28.5 30.96 31.18 28.0 .1 I I I I 0 _ COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS EM) ING — OCTOBER 1 I 1972 FROM JUL. JUN. _ 12 14 2.6 - 1972 FEDERAL RESERVE CREDIT 1972 MAR 1972. MILLIONS — 74 4 18 I 15 M IS 27 10 24 8 22 5 1C 2 10 JAN FEB I 15 2C 12 20 10 24 7 21 5 1C JUN JUL 2 10 SO IS 27 II 25 LATEST DATA PLOTTED WEEK ENDINGt OCTOBER 11, 1972 1/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. 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 DEPOSITS AMONG CLASSES OF BANKS. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 4 DEMAND DEPOSIT COMPONENT OF MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 195 BILLIONS 186. 1 187.3 186.0 186. 1 185.6 186.2 190 185 180 175 I 15 28 15 27 10 24 OCT 1971 NOV 6 22 5 18 2 16 JAN FEB 5 28 12 26 10 24 7 21 5 18 2 16 50 15 27 II 25 SEP OCT 1972 LATEST DATA PLOTTED WEEK ENDING: OCTOBER 4, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING: 10/6/71 2/2/72 3/1/72 4/5/72 5/3/72 9. 1 7.7 7.0 9.4 8.9 7.6 4.9 4.7 8.4 8.0 6.5 4.9 9.6 8.9 6.9 6/7/72 7/5/72 12.4 10.3 7.4 13.0 8.4 8/2/72 TO THE AVERAGE OF FOUR WEEKS ENDING: 3/ 4/ 5/ 6/ 7/ 8/ 9/ 10/ 1/72 5/72 3/72 7/72 5/72 2/72 8/72 4/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3.7 5.4 5.3 5.3 5.2 6.6 6.6 6.0 13.5 10.6 9. 1 8.2 10. 1 9.6 8.3 3.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED OF DOLLARS BILLI BILLIONS OF DOLLARS -- ----- ---------- ---------- 2*5 BILLIONS AUG. _ SO OCT 241 .2 242.6 241.5 241.6 241.2 241.7 5.87. TREND Lift FROM I I I I LLl 4 IS I 15 29 IS 27 10 24 OCT NOV a 22 5 19 2 10 JAN FEB I 15 20 12 26 10 24 7 21 LATEST DATA PLOTTED WEEK ENDING. OCTOBER 4, 1072 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. END 1NG* COMPOUNDED ANNUAL RATES OF CHANGE . AVERAGE OF FOUR WEEKS 8/2/72 7/5/72 8/7/72 5/3/72 4/5/72 3/1/72 2/2/72 10/8/71 TO THE AVERAGE OF FOUR WEEKS END 1NG* 3/ 4/ 5/ 8/ 7/ 8/ 9/ 10/ http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/72 5/72 3/72 7/72 5/72 2/72 8/72 4/72 4.2 5.9 5.6 5.7 5.6 6.7 6.6 6.2 13.3 10.3 9.2 8.3 9.7 9.1 8.1 9.1 8.1 7.3 9.1 8.5 7.5 5.3 5.0 7.9 7.4 6.4 5. 5 9.2 8.2 6.9 10.9 8.9 7.0 10.9 T• 8 3 • 7" PREPARED BY FEDERAL RESERVE BA»* 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* 5 20 13 27 10 24 4 IS OCT NOV S 22 5 10 2 IS JAN FEB IS 29 12 H 10 24 7 21 3 19 JUN JUL 2 10 30 13 27 I SEP OCT LATEST DATA PLOTTED WEEK EWlNGt OCTOBER 4, 1072 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 0100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS. NET TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING* 10/B/71 2/2/72 3/1/72 4/5/72 5/3/72 6/7/72 1 1.8 12.9 11.3 11.4 1 1.3 15.0 12.3 12. 1 1 1.9 10.8 11.1 11.1 7/5/72 8/2/72 TO THE AVERAGE OF FOUR WEEKS END 1NGt 3/ 4/ 5/ 6/ 7/ 8/ 9/ 10/ 1/72 5/72 3/72 7/72 5/72 2/72 6/72 4/72 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 18.4 16.8 15.6 15.5 15.5 14.6 14.3 14.0 13.9 12. 1 12.8 13.3 12.2 12.1 12.0 9.3 11.2 12.1 11.1 11.1 ' 11.1 9.2 9.8 11.3 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 -------- ---------- ------- =J 550 MONEY STOCK PLUS TOTAL TIME DEPOSITS MONEY STOCK PLUS NET TIME DEPOSITS 4 1* I 15 29 13 27 10 24 OCT NOV * 22 5 19 2 1* JAN FEB I 15 29 12 2* 10 24 7 21 5 <9 JUN JUL 2 I* 30 13 27 II 25 SEP OCT LATEST DATA PLOTTED WEEK EWING: OCTOBER 4, 1972 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. JWS Mz IS DEFINED AS: CURRENCY. DEMAND DEPOSITS PLUS NET TIME DEPOSITS <SEE PAGE 6). MONEY STOCK PLUS NET TIME DEPOSITS (M2) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 10/6/71 2/2/72 3/1/72 13.5 1 1.2 11.1 10.9 11.0 10.6 10.1 9.2 9.7 9.8 10.1 9.9 9.4 4/5/72 5/3/72 6/7/72 7/5/72 10,3 10.7 10.2 9.4 10.7 10.0 9. 1 10.0 8.8 8/2/72 TO THE AVERAGE OF FOUR WEEKS END 1NG: 3/ 4/ 5/ 6/ 7/ 8/ 9/ 10/ http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/72 5/72 3/72 7/72 5/72 2/72 6/72 4/72 1 1.2 11.3 10.6 10.6 10.5 10.6 10.4 10. 1 8.7 9.1 9.6 9.5 9.0 7.7 PREPARED BY FEDERAL RESERVE BANK OF ST, LOUIS CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS WEDNESDAY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 42 --------- -------------------- I 15 29 13 27 10 24 OCT I 22 NOV 5 10 2 10 JAN FEB I BILLIONS OF DOLLARS -------------------- ---------- 42 15 20 12 20 10 24 T II JUN 1072 5 10 2 16 90 13 ZT II 25 JUL SEP OCT LATEST DATA PLOTTED WEEK ENDING. OCTOBER 4, 1072 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.fl RELEASE. NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 0100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MONEY AND TIME DEPOSIT DATA 1072 AUG. 2 9 16 23 30 SEP. 6 13 20 27 OCT. 4 11 18 25 CERTIFICATES OF DEPOSIT BILLIONS NET TIME DEPOSITS » 38.6 38.6 38.8 39.7 40.4 39.7 40.4 40.3 40.8 40.4 256.5 257.0 257.7 257.8 258.5 259.6 259.7 259.9 260.3 262.2 M2 m 496.2 497. 1 498.6 498.3 499.8 502.2 501.2 501.6 501.5 503.8 K SEE FOOTNOTE PAGE 0. XX 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 billions of dollars CREDIT PROXY ADJUSTED 1/ CREDIT PROXY 4 18 1 15 20 15 27 10 24 OCT 1971 8 22 NOV 5 10 2 18 JAN FEB I 15 20 12 28 10 24 7 21 5 10 JUN JUL 2 18 50 15 27 It 25 1972 LATEST DATA PLOTTED WEEK EM)IN6« OCTOBER 4, 1972 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. 1312. AUG. 30 SEP. 6 13 20 27 OCT. 4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis BILLIONS CREDIT PROXY CREDIT PROXY APJUSTEQ 386.0 386.9 387.8 389.1 388.3 391.0 390. 1 390.9 391 .9 393.2 392.4 395.0 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING OCTOBER 4. 1972 FROM THE FOUR WEEKS ENDING: CREDIT CREDIT PROXY PROXY ADJUSTED AUG. JUL. JUN. MAY APR. MAR. OCT. 2, 5, 7, 3, 5, 1, 6, 1972 1972 1972 1972 1972 1972 1971 10. 1 11.1 9.0 10.4 10.7 12.1 11.5 9.9 11.2 9.2 10.6 10.7 12.2 11.3 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT 8.0 ---- PERCENT ----- 8.0 CORPORATE AAA BONDS PRIME COMMERCIAL LOAN RATE MUNICIPAL BONDS** DISCOUNT RATE THREE-MONTH TREASURY BILL MARKET YIELD I I I I I I I I I II I I M I I I I I I I I I I I I I I I I 1 I I I I I I 1 I I I I I I I I I I I I I I I I I I I I I ll I I 6 20 3 17 I AUG SEP 15 29 12 2ft 10 24 OCT NOV 1971 DEC 7 21 JAN 4 18 3 17 31 FEB MAR 14 28 12 28 9 23 APR MAY JUN 1972 7 21 4 18 I JUL AUG SEP 15 29 15 27 OCT LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* OCTOBER 13, 1972 1972 AUG. 4 11 18 25 SEP. 1 8 15 22 29 OCT. 6 13 X 20 27 CORPORATE Aaa BONDS 3-MONTH TREASURY BILLS 3-5 YEAR GOVERNMENT SECURITIES LONG-TERM GOVERNMENT SECURITIES MUNICIPAL BONDS km 7.22 7.20 7.19 7.17 7.16 7.19 7.23 7.23 7.24 7.23 7.23 3.79 3.85 3.89 4. 1 1 4.46 4.69 4.71 4.65 4.60 4.63 4.70 5.85 5.85 5.87 5.94 6. 1 1 6.19 6.20 6. 15 6.13 6.11 6.07 5.51 5.48 5.53 5.56 5.62 5.66 5.68 5.70 5.75 5.73 5.71 5.32 5.24 5.22 5.32 5.38 5.39 5.38 5.37 5.30 5.22 N.A. * AVERAGES OF RATES AVAILABLE. *38 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 8.0 --- l.LLL ----- 8.0 — 7,5 7.5 - 6.5 7.0 TTTT 7.0 - 6.5 - - 6.0 6.0 - 5,5 5.5 - COMMERCl AL 1 ’APER 4-T0-6 MONTIi 5.0 5.0 - 4.0 4.5 TTTT 4.5 - J V 4.0 - 3.5 3.5 - - FEDERA L FUN! >S RA1 ’E 3.0 3.0 - - 2.5 2.5 'a 5 i 1 1 111 i.i 11 6 20 3 17 I AUG SEP OCT 1071 111 JJ 1 1. IS » 12 28 10 N NOV DEC ill _LLL J 1. 1 I. JLLL JLLL .LI 1 J. 1 I.L. _LLL . 1.11.1. 1 1 1 7 21 4 10 3 17 31 JAN FEB MAR 14 28 12 28 0 23 APR MAY JUN 1972 7 21 4 10 1 JUL AUG SEP 15 20 13 27 OCT LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGs OCTOBER 13, 1972 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1972 AUG. 4 1 1 18 25 SEP. 1 8 15 22 29 OCT. 6 13 X 20 27 PRIME COMMERCIAL PAPER 4-6 MONTH FEDERAL FUNDS PRIME BANKERS' ACCEPTANCES 90 DAY CD’S 4BK 4.73 4.70 4.85 4.88 4.95 5.09 5.13 5.13 5.18 5.28 5.25 4.63 4.78 4.91 4.69 5.13 4.44 4.75 5.09 4.86 5.36 5.07 4.63 4.63 4.63 4.75 4.75 4.75 4.88 4.88 4.88 4.95 5.00 4.72 4.70 4.76 4.84 4.92 4.98 5.02 5.1 1 5.17 5.20 5.23 * AVERAGES OF RATES AVAILABLE. FEDERAL FUNDS LAST FIVE DAYS AVAILABLE USE DATA ARE SECONDARY MARKET RATES, WEEKLY AVERAGES ENDING WEDNESDAY TWO DAYS EARLIER. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS BORROWINGS AND EXCESS RESERVES ALL MEMBER BANKS IN THE NATION AVERAGES OF DAILY FIGURES billions of dollars billions of dollars BORROWINGS -0.4 -0.4 NET FREE RESERVES 0.8 - 0.8 - 1.2 1.2 - - EXCESS RESERVES 4 10 20 15 27 10 24 OCT • 22 NOV 5 10 2 10 JAN FEB I 15 20 12 20 10 24 7 21 5 10 JUN JUL 2 10 50 15 27 II 25 1972 LATEST DATA PLOTTED WEEK ENDING. OCTOBER 11, 1972 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MILLIONS 1972 AUG. 2 9 16 23 30 SEP. 6 13 20 27 OCT. 4 11 18 25 EXCESS RESERVES 242 130 254 40 227 796 - 115 246 7 268 373 BORROWINGS 363 287 382 348 477 837 149 719 551 438 535 FREE RESERVES - 121 157 128 308 250 41 264 473 544 170 162 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS -0.4