Full text of U.S. Financial Data : Week Ending October 25, 1967
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t 1/ U.S. FinflnCIHL \V ORTH . Week ending October 25, 1967 FEDERAL RESERVE CREDIT MONEY STOCK Federal Reserve credit (page 2) averaged $47-6 billion during the four weeks ending October 25, up at a 9 per cent annual rate in the three months since July, and at a 12 per cent rate' since January. The principal factor in the expansion of this credit has been System open market purchases of Government securities; member bank borrowings (page 8) declined early in the year and have been negligible since about April. Federal Reserve credit rose at a 7 per cent trend rate from 1957 to 1964, and at a 10 per cent rate from 1964 to 1966. The nation's money stock (page 5), consisting of private demand deposits plus currency in the hands of the public, averaged $180.2 billion during the four weeks ending October 18, up at a 6 per cent annual rate since early July, and at a 7.5 per cent rate since early January. By way of comparison, money rose at a 2 per cent trend rate from 1957 to 1§64, and at an accelerated 4 per cent rate from 1964 to 1966. BANK RESERVES Total reserves of member banks (page 3) aver aged $24.6 billion during the most recent four week period. These reserves, which largely determine the amount of bank credit, have risen at a 10 per cent annual rate since July, the same rate as since January. Recent rates of growth in total reserves are markedly higher than the 3 per cent trend rate from 1957 to 1964, and the 4.5 per cent rate from 1964 to 1966. Reserves available for private demand deposits (total reserves less reserves required for Government, time and net interbank deposits) have risen at a 2.4 per cent rate since July, and at a rapid 7 per cent rate during the past nine months. The slower rate of growth in these reserves during the past three months reflects an increase in reserves used as backing for Government demand deposits. Reserves available for private demand deposits, which provide a base for monetary expansion, rose at a considerably slower 1.5 per cent rate from 1957 to 1966. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A broader measure of money (page 4), which includes time deposits at commercial banks, has risen at a 10 per cent rate in the past three months, and at a 12 per cent rate since January. This measure, which is similar in magnitude to total bank credit, rose at a 5 per cent trend rate from 1957 to 1964, and at an 8 per cent rate from 1964 to 1966. BUSINESS LOANS Business loans at large commercial banks (page 9) have shown little net change during the past three months, after rising during the first half of the year. Heavy corporate borrowings in the capital market, in anticipation of higher interest rates during the latter part of the year, have probably had a dampening affect on the recent demand for business loans. Rates of change reported in this release are intended to serve as summaries which may be useful in analyzing recent developments. Prepared by Federal Reserve Bank of St. Louis Released: October 27, 1967 FEDERAL RESERVE CREDIT Q_ Weekly Averages of Daily Figures of Dollars Billions of Doll Seasonally Adjusted by thijBankl2 52 FEDERAL RESERVE HOLDINGS CREDIT +S-7L Hi,.!/ Hi.ir Hi, .7/ Annual rates of change Federal Reserve Credit 51 50 adjusted for reserve requirements changes verage of four weeks ending Oct. 25, 19&7 from four weeks ending: July 26, 1967 A 8-1 Apr. 26, 1967 y- gj Jan. 25, 1967 y-//./ Oct. 26, 1966 !<-//./ Hi.7i Htt.7 Hi. Hi Hi-a Hi.Sg Hie-UO ¥i-9f H7.o« 'K.i’t HiAe 1957-1966 Hi,-73. HC>7H Hi 80 Hi. AT Ht,.3o Hi .^3 Hi-HH Hi.ye 49 H&.rj Hi*)) Hi. lit, Hi-3 7 i 733 48 WW mm f H 7.Z3 \ ¥7-77 Hi. 1"3~ H7.H1 Hg-tO H7.f3fi 47 Federal Reserve Credit 1*6 45 Federal Reserye Holdings of U.S. Government , ^^ 'and Federal Agency Securities^ 44 M ■j € 43 42 Borrowings r 1*1 40 o' Latest data preliminary Latest data plotted week ending: Oct. 25, 1967 1 1 1 1 1 1 1 1 1 1 1 I 5 19 2 16 30 lk 28 11 25 8 22 8 22 5 Oct. Nov. Dec. Jan. Feb. Mar. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1966 19 Apr. a; opy* 31 lk 28 June Federal Reserve 'Credit excluding float and a few minor items, and adjusted for reserve requirement changes. Seasonal adjustment for Federal Reserve Holdings computed hy this bank using data ending December 1966. Borrowings from Federal Reserve not seasonally adjusted. Current mad justed data appear in the Board's H.4.1 release 12 26 July 1967 9 23 Aug. 6 20 k 18 Sept. Oct. 1 15 29 Nov. 13 27 10 Dec. 2k 7 Jan. 21 6 20 Feb. Mar. 1968 Prepared by Federal Reserve Bank of St. Louis ij. oAq . dbeted to (f,* *5 RESERVES All Member Banks in the Nation Weekly Averages of Daily Figures Billions of Dollars Billions of Dollars I i i i i i i i i i i i—i i i i—n-! Seasonal adjustment computed by this bank using data ending December 196 TOTAL RESERVES Annual rates of change, average of four weeks ending Oct. 25, 1967 from four weeks ending July 26, 1967 Apr. 26, 1967 Jan. 25, 1967 Oct. 26, 1966 ' 66 I I FT Til TOTAL RESERVES Unadjusted data appear Tn the Board's H.4.1 release. As.e/ A3-8S °)‘f. c-S 1957-1966 J3.iif t- 3L+.<>3 ca./o ■ay./j K AY SO A Y. (.3 RESERVES AVAILABLE FOR PRIVATE DEMAND DEPOSITS n.L? 22.0 tL.3> li-3i iM*ms Available for Private Demand Deposits /6.0C HAC, UAO /tJA/4.JV /fc.O 7 /i.rr a 3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 16 Nov. I966 U '1 /6/S /(o.il /6. f! /t.60 /b.01 Lates ata pre Latest data plotted week ending I—I__1 1 1 ,i 1 T_l J 2 /k'+f 1957-1966 Seasonaladjustment factors have been revised to incorporate data through early 1^67. 519 Oct. /t.J3 /631 RESERVES AVAILABLE FOR PRIVATE DEMAND DEPOSITS Annual rates of change, average of four weeks ending Oct. 25, 1967 from four weeks ending: July 26, 1967 Apr. 26, 1967 Jan. 25, 1967 Oct. 26, 1966 30 lir 28 11 25 Dec. Jan. 8 22 Feb. 8 22 Mar. 3 17 31 Ik 28 12 26 May June July 1967 9 23 Aug. 6 20 h 18 Sept. Oct. I__I__I 1 15 Nov. I 29 25, 1967 I__I__L_L 13 27 Dec. 10 2k Jan. 7 21 6 20 Feb. Mar. 1968 Prepared by Federal Reserve Bank of St.Louis MONEY STOCK PLUS TIME DEPOSITS * Averages of Daily Figures Seasonally Ad ustec of Dollars Billions of 382 380 378 376 37^ 372 four from July Apr. Jan. Oct. weeks ending Oct. 18, 1967 four weeks ending: 19, 1967 -f 10.1 19, 1967 y-//.y 18, 1967 // 7 19, 1966 i- rg .1957-1966 y l. o 370 368 366 364 362 36o 358 356 354 352 350 348 346 344 342 340 338 336 334 332 330 326 326 324 _ _ Latest data preliminary ; _Latest data plotted week ending:Oct. 0 1 ......................... ........ . 7 21 Sept. 5 19 2 Oct. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1966 16 30 Nov. 14 28 Dec. 11 25 Jan. ____________________________ For trend of money stock plus tine deposits by months __________________________ see this bank's monthly release entitled "Monetary Tr< 18. 1967 8 22 Feb. 1 1 1 1 I 8 22 Mar. 1 5 19 Apr. I II 3 11 31 1 14 28I 1 12 261 I 11 n 17 May June July 1967 1 1 1 1 1 1 1 1 1 1 1 1 1 1 M 1 1 1 1 1 I I I _LLI_L_L 9 23 Aug. 6 20 Sept. 4 18 Oct. 1 15 Nov. 29 13 27 Dec. 10 24 Jan. 7 21 Feb. 6 : Prepared by Federal Reserve Bank of St. Louis 20 3 aty , (jXX-teA of Dollars Bill MONEY STOCK* Averages of Daily Figures Seasonally Adjusted ^ ^ l^O i JXLctun.0 Billions of Dollars 196 196 195 194 193 192 191 .Annual rates of change, average of -four weeks ending Oct. 18, 1967 -from four weeks ending: -July 19, 1967 y- 4>,3 -Apr. 19, 1967 -h S.A. -Jan. 18, 1967 tl.S -Oct. 19, 1986 +S.i WEEKLY DATA 1967 177 7 1957-1966 179.3 / 78 8 /7?.A 190 189 177 / 188 /foe /7S0 131-3 187 186 I/O. j- //a? 185 184 183 182 181 180 179 178 i 177 176 13-week 175 174 173 Weekly 172 171 170 169 168 167 Latest data prelimln Latest data plotted wee 0 7 21 5 19 Sept. Oct. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 1966 16 30 Nov. ending: Oct l4 28 Dec. 11 25 Jan. 8 22 Feb. 8 22 5 19 Mar. Apr. 3 17 May 31 14 28 June Current data appear in the Board1s H.6 release. Back data appear in the August 1967 Federal Reserve Bulletin For trend of money stock by months see this bank's monthly release entitled "Monetary Trends" llll 1 1 1 1 1 1 1 1 1 1 1 ' 1 1 » ' 29 13 27 10 24 7 21 6 20 3 12 26 9 23 Mar. Apr Feb. Jan. Dec. Nov. July Aug. 1967 Prepared by Federal Reserve Bank of St. Louis 0 CERTIFICATES OF DEPOSIT H Ld rg e CO m rn e rc ioI Ba n ks Wednesday Figures Billions of Dollars Billions of Dollars Annual rates of change, seasonally unadjusted data - average of four weeks ending Oct. l8, 1967 from — four weeks ending: ■h + Millions of Dollars , 1967 30. 4 20. 5 20, 3 II 20, HO 20, V37 22.0 22.0 21.0 21.0 20.0 20.0 Current and year ago data appear in the Board's R.k.2. release. 1/ Negotiable time certificates of deposit Latest data preliminary Latest data plotted: 19 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 16 30 14 1111 1 28 11 25 8 22 8 7 22 Mar. June Oct. 21 6 Nov. Prepared by Federal Reserve Bank of St. Louis 20 Mar. 3 Apr 7 TIME DEPOSITS* All Commercial Banks Weekly Averages of Daily Figures SeasonallyAd usted ons of Dollars 212 210 Billions of Dollars 208 from four weeks ending: 206 204 202 200 198 196 194 192 190 188 186 184 182 180 178 176 174 172 170 168 166 164 162 160 158 156 Back data appear in the August 1967 Federal Reserve Bulletin For trend of time deposits by months see this bank's monthly release entitled "Monetary Trends". 154 Latest data preliminary 0 7 21 5 19 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 16 30 14 28 11 25 8 22 8 22 5 19 3 17 31 14 28 June 12 26 9 23 July Aug. 6 20 Sept. 4 18 Oct. 1 15 29 13 27 10 24 7 21 6 Prepared by Federal Reserve Bank of St. Louis 20 3 Millions of Dollars BORROWINGS AND EXCESS RESERVES Ail Member Banks in the Nation Minions of s Dollars 1,900 1,900 1,800 1,800 EXCESS RESERVES BORROWINGS +hi yvo «jv7 trO 317 110 3bl 337 V7 IS JO 1,700 1,600 1,500 3-SO 1,300 /fS' 370 1,200 1,1*00 P 737 1,200 WEEKLY DATA 1,100 ;*■ im 1,000 1,000 aaa P 900 in. S3 800 700 600 500 Excess Reserves 1*00 300 Ret Free Reserves 200 100 Borrowings 0 - 100 - 200 - 300 - 1*00 - - http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1966 23 7 21 1 15 1 1,000 - 9 900 - 1,100 800 - 1,000 700 - - 600 - Latest data preliminary latest data plotted: two weeks ending Oct. 500 - 1,100 25, 1967 15 29 12 7 21 June 5 19 July 1967 2 16 Aug 30 13 27 u 25 8 22 6 20 3 17 31 lU 28 13 27 Mar. Jan. 1968 Prepared by Federal Reserve Bank of St. Louis » BiJ ions of Dollars 69 BUSINESS LOANS Large Commercial Banks Wednesday Figures Billions of Dollars 1 Seasonally Adjusted by this Bank 68 6? Annual rates of change, average of four weeks ending Oct, 18, 1967 from four weeks ending: July 19, 1967 -0.7 Apr. 19, 1967 ^4 Jan. 18, 1967 *7.7 Oct. 19, 1966 6t,< 1 1 fcCv S' <t /SL n <5 AC ^ 1960-1966 /6> zJ 3 3€ J. 6 66 /3 AC <57 - 65 i // IS 1 1 1 1 1 II 1 1 1 II 1 Millions of Dollars SEASONALLY ADJUSTED UNADJUSTED (.1, c3~ A. 6 3,797 6 3,813 63 8if 6 3 e-cj 6y.3o9 63, 7fi 8 63 yy<r 63, S’? A. 6.j, 893 63,j;y i 3 cc6> 63,373 63,3366 6-p, ?yy i I't? 6*269/ 6 3,33? 6J.3/y 63S9? 6, A A 63/t? 63,fe3 63,3 97 (,3,3 sr 6 3.S69 6A 63.3SS 63 S/J63. 7tS P 6 3.337 p 68 6? 66 6k 63 62 61 60 59 58 57-. cr Latest data preliminary latest data plotted: Oct. 18, 1967 I I I I I I I I I I II I 7 21 5 19 2 16 30 lk 28 11 25 8 22 6 22 Sept. Oct. Nov. Dec. Jan. Feb. Mar. 1966 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Current and year ago unadjusted data appear in the Board's H.k.2. release. Seasonal adjustment computed by this bank using 1962 through 1966 data 5 19 Apr. 3 17 May 31 lk 28 12 26 June July I967 9 23 Aug. 20 k Sept. 18 Oct. 1 15 Nov. 29 13 27 10 Dec. 2k Jan. 7 21 6 20 Feb. Mar. 1968 Prepared by Federal Reserve Bank of St. Louis 3 Apr. 10 YIELDS ON SELECTED SECURITIES Weekly Averages of Daily Rates Ended Friday Per Cent Per Cent Corporate Aaa Bonds Government Bonds Discount Rate Three-Month Treasury-I---Bill Market Yield ----- Latest data plotted are averages of rates available for the week ending: Oct. 27, 1967 9 23 7 21 4 18 2 16 30 13 27 10 24 10 24 7 21 5 19 2 r 1966 * AVERAGES OF RATES AVAILABLE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 16 30 14 28 11 25 8 22 6 20 3 17 1 15 29 12 26 9 23 8 June 1967 1968 ' Prepared by Federal Reserve Bank of St. Louis 22 5 11 * SELECTED SHORT-TERM INTEREST RATES Weekly Averages of Daily Rates Ended Friday Per Cent PRIME PRIME PAPER It-6-MOUTH LARGE ACCEPTANCES CD'S** —- J. s. to * SI Prime Commercial Paper 4-to-6 Month Prime Bankers' Acceptances unt Rate Federal Funds Rate Latest data plotted are averages of rates 9 23 Sept. 7 21 4 18 2 Oct. Nov. Mar. June 1966 * AVERAGES OF RATES AVAILABLE ** SOURCE: SALOMON BROTHERS AND HUTZLER http://fraser.stlouisfed.org SECONDARY MARKET RATE ON 90-DAY PRIME CD'S. Federal Reserve Bank of St. Louis Prepared By Federal Reserve Bank of St. Louis Apr