Full text of U.S. Financial Data : Week Ending: October 29, 1969
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. ' • RESEARCH LIBRARY 1 Federal Reserve Bankll of St. Louis S. FinflnCIHL DATA Week ending: October 29,1969 2 7 1998 Interest rates have risen in the past week although most rates are still below early October peaks (pages 10 and 11). Over the past year interest rates have increased markedly, with yields on prime fourto six-month commercial paper rising about 2-1/2 percentage points. In contrast, Regulation Q ceilings have remained unchanged and the discount rate has been increased only three-fourths of a percentage point during the past year. The discount rate is currently one percentage point below the three-month Treasury bill rate; this spread was about onefourth of a percentage point a year ago. Selected Interest Rates (Average of Daily Rates) Week Ending 3- to 5-year Government securities Corporate Aaa securities 3-month Treasury bills Prime 4- to 6-month commercial paper Banker's acceptances Discount rate Regulation Q ceiling on large 90- to 179-day CD1's 11/1/68 10/31/69* Percentage Increase 5.42 6.15 5.48 7.31 7.25 7.00 34.9 17.9 27.7 5.88 5.88 5.25 8.29 8.00 6.00 41.0 36.1 14.3 6.00 6.00 *Latest rates are averages of the three days ending October 29. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -0- The volume of commercial paper outstanding continued to increase rapidly in September, up $7.8 billion since last December, compared with a $3.4 billion increase in the corresponding period of 1968 (page 8). In contrast, the outstanding volume of large negotiable certificates of deposit at large commercial banks declined by $12.1 billion from last December to October 1969, as low Regulation Q ceilings relative to market rates have prevented banks from competing effectively for funds. The money stock has been about unchanged since early June, indicating greater monetary restraint than earlier in the year when money grew at a 4.4 per cent annual rate (page 5). The monetary base, uses of which are bank reserves and currency, has declined somewhat since early June (page 2) . The money stock and the monetary base usually grow at similar rates. For example, in 1968 they both grew 7 per cent and in the last three months they both have been about unchanged. However, small shifts frequently occur in the multiplier relationship between the monetary base and money. Since early June, the continuing decline in the ratio of time deposits to private demand deposits has been the major factor causing a net increase in the multiplier, though the more rapid rise in currency relative to demand deposits has tended to lower the multiplier. For a more detailed discussion of the base and multiplier, see "Elements of Money Stock Determination" in the October 1969 Review of this bank. 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 31,1969 Ill MONETARY BASE LL FEDERAL RESERVE CREDIT^. Averages of Daily Figures s of Dollars 82 Billions of Seasonally adjusted by this bank. Annual rates of change, average of four weeks ending Oct. 29, 1969 from four weeks ending: 81 80 79 Monetary Base July Apr. Jan. Oct. 30, 30, 29, 30, F.R. Credit 1969 1969 1969 1968 £kr / June il, 1969 1957-1968 78 Monetary Base 77 76 75 74 ^.R.Credit Federal Reserve Credit 73 1/ Uses of the 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 1968 Review of this bank. ■ 62 61 60 0 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9 1968 23 3 17 1 15 29 12 26 1969 Prepared by federal Reserve Bank of St. Louis 1970 3 REWVES All Member BcWts in the Nation Averages of Daily Figures Seasonally Ad usted Billions of Dollars Billions of Dollars Annual rates of change, average of four weeks _ending Oct. 29, 1969 from four weeks ending: July 30, Apr. 30, _Jan. 29, —.Oct. 30, 30.0 1969 1969 1969 1968 29.5 June 11, 1969 29.0 1959-1968 28.5 TOTAL 28.0 27.5 27.0 27.0 26.5 26.5 Total Jl7.3 ------Series adjusted by the Board of Governors -------- to reflect changes in reserve requirements. For comparability back data have been re vised due to the change in Regulation D effec tive July 31, 1969 requiring member banks to __ __ include all "bills payable checks" and so-called _____ "London checks" as deposits subject to reserve -------- requirements. 26.0 25.5 25.0 24.5 —Latest data preliminary ^Latest data plotted 10 24 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 4 18 Sept. Current data appear in the Board's H.9 release. Oct. 29, 1969 16 30 13 27 11 25 5 19 5 19 2 16- 30 14 28 May 11 25 June 9 July 1969 ’ 6 20 Aug. 3 17 Sept. 1 15 29 12 26 Prepared by Federal Reserve Bank of St. Louis 0 10 24 J an. 1970 4 DEMAND DEPOSIT COMPONENT OF MONEY STOCK Averages of Daily Figures Seasonally Ad justed Billions of Dollars Billions of Dollars TTT7 Annual rates of change, average of four weeks ending Oct. 22, 1969 from four weeks ending: , July Apr. Jan. Oct. 23, 23, 22, 23, 1969 1969 1969 1968 ■h/.O * 3- 3 June 11, 1969 V Dec. 25 - June 11 1957-1968 Data include the annual revision of seasonal factors and benchmark adjustments of nonmember bank deposits. Current data appear in the Board’s H.6 release. Latest data preliminary __ Latest data plotted week ending: 10 24 4 18 2 Jul- http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 16 Oct. 22, 1969 30 13 27 11 Nov. Dec. 19 5 19 2 16 30 14 28 II 25 9 23 6 20 3 1 15 29 12 June 1968 Prepared hy Federal Reserve Bank of St. Louis 26 10 24 Dec.. J an. 1970 5 STOCK Average.* !^R)aily Figures » fllars Bill BilWWlS OI U'oi iar Seasonally Ad 215 214 215 Annual rates of change, average of four weeks ending Oct. 22, 1969 from four weeks ending: 213 214 213 / 9 9.1 212 212 July 23, Apr. 23, ___ Jan. 22, -Oct. 23, 211 210 1969 1969 1969 1968 + /. O 211 / 99. J 210 209 209 June 11, 1969 208 207 208 ^Dec. 25 - June 11 206 207 206 1957-1968 205 205 204 204 203 203 202 202 201 201 200 200 199 199 198 198 197 197 196 196 195 195 194 194 193 193 192 192 191 191 190 190 189 189 188 187 186 185 188 Data include the annual revision of seasonal factors r and benchmark adjustments of nonmember bank deposits. Current data appear in the Board's H.6 release. 187 186 Latest data preliminary Oct. 22, 1969 Latest data plotted week ending: ' 0 10 24 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 4 18 2 Sepi . 30 13 27 11 22 5 19 5 19 Mar. 2 16 30 Apr. 14 28 May 11 25 9 23 June .Tulv 1969 6 20 Ann. 3 17 1 Sept. 15 29 12 26 Prepared by Federal Reserve Bank of St. Louis 10 24 7 21 1970 185 0 Hit of Dollars 234 232 230 224 Billions of r July 23, 1969 - Apr. 23, 1909 _ Jan. 22, 1969 1Q6R Dollars "pi i i i i i r~U 1UU 1969 CL^l . 4 l9S.i, 0 /3 i J9 4.9 /9 V. y -iO 1 1 9J.J •>7 /?V.^ h t&yat. J / 9J3 JO n4.A *4 /?v.* /94-4S “ i Annual rates oi cnnngc, ------------ending Oct. 22. 1969 from four weeks ending 228 226 6 TIME DEPOSITS All Commercial 3anks Ave rages of Doily Figures . 1 a • w ~ <o. U C 222 1957-1968 220 -f- / /S ^ \ /93-T ns. 3 ~ p j 218 234 232 230 228 226 224 222 220 218 216 216 214 214 212 212 210 210 208 208 206 206 204 204 202 202 — 200 200 198 198 196 196 i /9 3-i 194 194 192 192 190 190 188 188 186 r 186 | 184 184 182 182 180 178 176 174 0 180 and benchmark adjustments of nonmember bank deposits ■ Current data appear in the Board's H.6 release. r r[ 1 | r ryTr n 1 T t t r~T~ 1 r~r~rr 1 r~ .Latest data preliminary Latest data plotted week ending: rr r r Ct* ITT 176 174 9 *^69 1 1 1 1 II 1 1 1 II 1 1 1 II 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 10 2/. 7 21 4 18 2 14 30 13 27 11 25 8 22 5 19 Julv Au<’. Sept. Oct. Nov. Dec. Jan. Feb. 1968 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 178 Ti r Mil MM 0 5 19 Mar. 2 16 30 Apr. 14 28 11 25 9 23 May June July 1969 6 20 Aug. 3 17 1 Sept. 15 29 Oct. 12 26 Nov. Prepared bv Federal Deserve Bank of St. Louis 10 24 Dec. 7 21 J.-rn. 1970 MONEY STOCK M|S TIME DEPO Averages o^Oaily Figures illi of Dollars Billions of Dollars Seasonally Ad justed 432 430 428 426 424 Annual rates of change, average of four weeks ending Oct. 22, 1969 from four weeks ending: July 23, 1969 Apr. 23, 1969 Jan. 22, 1969 422 420 418 June 11, 1969 1957-1968 416 414 412 J93.J 410 408 406 404 402 400 398 396 394 392 390 388 386 384 382 380 378 Data include the annual revision of seasonal factors and benchmark adjustments of nonmember bank deposits. 376 374 372 rm Latest Data Preliminary Latest Data Plotted Week Ending: Oct. 22, 1969 o' 10 24 7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 21 4 18 2 Sept. 16 30 13 27 11 25 8 22 5 19 5 19 Mar. 2 16 30 14 28 11 25 June 6 20 3 17 1 15 29 12 Prepared by Federal Reserve Bank of St. Louis 26 10 24 Dec. 7 21 Billions of Dollars CERTIFICATES OF DEPOSIT LL AND COMMERCIAL PAPER Outstanding Volume \2 8 Billions ui 29.0 27.0 26.0 24.0 22.0 Certificates of Deposit 20.0 ■Commercial Paper September 1969 I ii ' ' Commercial Paper: latest data plotted: Certificates of Deposit: October 1969 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis \J Negotiable time certificat Monthly averages of Wednesday figures. Data prior at large commercial banks, ,ank of St. Louis. to July 1965 estimated by Averages of current and preceding 2/ Total volume of commercial paper outstanding. ~ end-of-month seasonally adjusted figures. PreliminaryL Prepared by Federal Reserve Bank of St. Louis NEW ISSUE RATE ON CERTIFICATES OF DEPOSIT Q_ EALERS' OFFER NG RATE ON COMMERCIAL PAPER ’Per Cent Commercial Paper L. oo Certificates of Deposit Latest data plotted: October 1469 1./ Average new issue rate on 6 month certificates of deposit of $100,000 or more. Estimated by the Federal Reserve Bank of St. Louis from guide rates published in the Bond Buyer. 2/ Prime commercial paper, 4- to 6- months maturity. Averages of dealers' daily offering rates. 1 I I ft I I- I I i"tT Preliminary i http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1969 Prepared by Federal Reserve Bank of St. Louis T 9.50 9.00 10 YIELDS ON SELECTED SECURITIES Averages of Daily Rates Ended Friday Per Cent 3-Month Bif?sury 1969 "4 / 3 y /s 3*. 7 .og is .9 X 0-9? o.ro 7.<56 7. 03> 7 /o 7./A 7. to 3 8.50 /9 c2 Co 3 7.03-. 0.77 10 n 8.00 3i *■ 7 o/ 4..9V 7.oo 3-5 Year 7.03 to. &S 3. 78 7.oo 0.90, 0.0/ O. oo <o.o 7 7./V 7.30 7.03 7.77 7.73 7. 7V 736 7. /Sl 7.3/ 9.00 <,.95 0.98 7.03 7. /A 0../8 0.&3 is. 3/ 6. V/ 7. 9.50 Corporate Aaa Long Term 7.0 7 7.0/ 7-/7 7. <3 3 Per Cent 7-/6 7./? 8.50 7. =?y 0..S4, <o. «rV (es. / 0 1-37 0.C7 is.3 3 7. 3/ 7.05 7.39 8.00 Prime Commercial corporate 7Vaa Bond 7.50 sy 7.00 •* * % t*' .. 7.50 ■*lJ 7.A5 ** V •«* —f- 1—1— /. oo 7.00 ee-Month Treasury Bill'Market Yield 6.50 6.00 6.00 Long-Term Government Bonds 5.50 5.50 Discount Rate 5.00 5.00 4.00 Latest data plotted are averages of rates available for the week ending: I—I—1—J—I—I—I—I—I—L—I—1—1—I—1—I—I—I—I 12 26 9 23 Aup. 6 20 4 18 1 Sept. Oct. 1968 OF RATES AVAILABLE *AVE1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis I I 1 I L I 15 29 13 27 Nov. Dec. I I I I l_l l l 10 24 7 21 Jan. Feb. l i | i 7 21 Mar. r i i Oct. 31, 1969 i 4 18 Apr. « i 2 i i i 1 16 30 May ! I 13 27 11 25 June July 1969 3 Sept. 17 31 14 28 12 26 Oct. Nov. Dec Prepared by Federal Reserve Bank of St. Louis Jan. SELECTED SHORl^RM INTEREST RATES Per Cent Averages of Daily Rates Ended Friday — 11.00 10.50 10.00 . Prime Commern' al Prime Paper Bankers' 4-6 Month . Ac ttptirtices V ft. U U ft. So // /S r, ~?s ft. tmS f. so AS S'. <*9 / 90 Day r.s3 ft. as ft. Vo 9.00 Federal i,-. Funds 10.50 10.00 ft. 0 3 ft. /o ft. oo ft~cO 9.50 r . Per Qent 11.00 ft. So ft. UO ft. 13 ft.'ll ft./c, r. /3 Federal Funds Rate ft. OS 8. SO 6. So ft- <o3 ft. AS r. ft. 9S as ft. /j ft oo 8.50 8.00 Commercial Paper 4-to- 6 Month Bankers' Acceptances 7.50 7.00 6.50 6.00 Discount Rate 5.00 ■Latest data plotted are averages of rates available for the week ending: i ' i i ri « i ' i L 1 I I f I | 12 26 9 23 6 20 4 18 1 15 29 13 27 10 24 7 21 7 21 4 18 Sept. Oct. Jan. 2 16 30 13 27 June 11 25 8 22 19 3 17 31 14 * AVERAGES OF RATES AVAILABLE; FEDERAL FUNDS LAST FIVE DAYS AVAILABLE ** SOURCE: SALOMON BROTHERS AND HUTZLER http://fraser.stlouisfed.org Federal Reserve BankSECONDARY of St. LouisMARKET RATE ON 90-DAY PRIME CD'S Prepared by Federal Reserve Rank of St. Louis 28 12 26 9 23 BORROWINGS AND EXCESS RESERVES All Member Banks in the Nation Averages of Daily Figures Millions of Dollars EXCESS RESERVES Millions of Dollars FREE BORROWINGS RESERVES •3<t I // 0<o -ntt* 2.000 70 70 P Borrowings 1,800 1,000 Excess Reserves 200 - 1,200 - -1,400 Net Free Reserves -1,600 -1,800 2,000 - 2,200 2,200 - - -2,600 -2-, 800 Latest data preliminary -Latest data plotted week ending: Oct. 29, 1969 -3,000 4 18 Sept. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 30 13 27 11 25 Nov. Dec. 1968 8 22 J an. 5 19 5 19 Mar. 2 16 30 .pr. 23 14 28 11 25 May June 6 20 Aug. 3 17 Sept. 1 15 29 Oct. 12 26 Nov. 10 24 Dec. 7 21 Jan. 1969 Prepared by Federal Reserve Bank of St. Louis 4 18 4 18 Feb. Mar. 1970