Full text of U.S. Financial Data : Week Ending: October 3, 1973
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mM. Week ending: October 3r 1973 L,BRARY JUN 0 8 1979 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis The nation's money stock averaged $263.3 billion in the four weeks ended September 26, the same as the four-week average of three months ago. In the past six months money has risen at a 5.1 percent annual rate. In the past year, money has risen 5.3 percent, compared with average rates of 6.3 percent from 1967 to 1972 and 2.9 percent from 1957 to 1967. Money plus net time deposits has increased at a 4.8 percent annual rate in the past three months. For comparison, this aggregate has risen at a 7.2 per cent rate in the past six months, 7.8 percent in the past twelve months, and at an average rate of 8.4 percent from 1967 to 1972. The growth in business loans adjusted has leveled off in recent weeks after growing rapidly earlier this year. Business loans adjusted have shown little net change since mid-August, after rising 27 percent in the previous twelve months. The recent moderation in business loan ex pansion may be partially the result of a changing spread between bank loan rates to businesses and commercial paper rates. Reflecting recent declines in most short-term market interest rates, yields on four— to six-month prime commercial paper have averaged below the prime bank rate in the past two weeks. Yields on four- to six—month prime commer cial paper averaged 10.48 percent three weeks ago and 9.46 percent early this week. For comparison, the prime bank loan rate has been 10 percent for the past two weeks. The commercial paper rate had been above the prime bank rate since January of this year. Prepared by Federal Reserve Bank of St. Louis Released: October 5, 1973 MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS BILLIONS OF DOLLARS 104 102 100 98 96 94 2 16 SO 13 27 II 25 SEP « 22 6 20 3 IT 3] 14 2* 14 26 11 25 FEB OCT LATEST DATA PLOTTED WEEK ENDING: OCTOBER 3, MAR * 23 * 20 JUN 1973 APR 4 1* 1 13 29 12 26 10 24 JUL 1973 USES OF MONETARY BASE ARE MEMBER BANK RESERVES AND CURRENCY HELD BY THE PUBLIC AND NOfA^MBER BANKS, ADJUSTED FOR RESERVE REQUIREMENT CHANGES AND SHIFTS IN DEPOSITS. FOR A DESCRIPTION OF T& BASE SEE THE AUGUST 1968 •■REVIEW OF THIS BANK. COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING: 10/4/72 1/31/73 2/28/73 4/4/73 5/2/73 6/6/73 7/4/73 6/1/73 9.6 10.8 10.6 10. 1 9.7 9.4 8.8 8.1 9.8 9.5 9.0 8.4 8. 1 7.5 6.6 12.9 10.9 9.8 9.2 8.2 7.2 8. 1 7.5 7.3 6.5 5.6 6.8 6.8 6.0 4.9 6.3 5.5 4.2 5.2 3.7 2.4 TO THE AVERAGE OF FOUR WEEKS ENDINGi 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 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MULTIPLIER 1/ FEDERAL RESERVE CRED I T 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED ratio MULTIPLIER RATIO SEP. LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 26. 1973 BILLIONS OF DOLLARS BILLIONS OF DOLLARS 94 COMPOUNDED ANNUAL RATES ___ OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING _ OCTOBER 3, 1973 FROM THE FOUR WEEKS ENDING: AUG. 1, JUL. 4, JUN. 6, -----MAY 2, _ APR. 4, FEB. 28 -----OCT. 4, - 92 FEDERAL RESERVE CREDIT 1973-12.6 1973 -3.2 1973 -5.0 1973 -1.6 1973 -0.5 1973 4.7 1972 10.3 90 86 86 64 82 137.3. MILLIONS 60 78 OCT. 2 16 30 13 27 11 25 6 22 6 20 3 17 31 14 24 14 26 II 25 FEB MAR APR 9 23 6 20 4 14 JUN JUL 1 15 24 12 26 10 24 LATEST DATA PLOTTED WEEK ENDING: OCTOBER 3, 1973 1/ RATIO OF MONEY STOCK (Ml ) / MONETARY BASE. 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 DEPisiTS AMONG CLASSES OF BANKS. DATA ARE SEASONALLY ADJUSTED BY THIS BANK. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED 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 billions 205.2 203.3 203.7 204.0 203.5 201.8 2 16 30 13 27 11 23 SEP 6 22 6 20 3 IT 31 14 28 M 28 I I 25 B 23 OCT 1972 6 20 4 18 1 13 29 12 28 10 24 1973 LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 26, 1973 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE , 9/27/72 1/24/73 5.4 4. 1 3.9 5.0 6.2 6.2 5.2 4.3 0.6 1.0 3.9 6.3 6.3 4.8 3.5 2/28/73 AVERAGE OF FOUR WEEKS ENDING, 3/28/73 4/25/73 5/23/73 7.8 10.4 9.5 6.5 4.5 14.4 11.9 7.6 4.9 11.1 5.8 3.0 6/27/73 7/25/73 TO THE AVERAGE OF FOUR WEEKS ENDING, 2/28/73 3/28/73 4/25/73 5/23/73 B/27/73 7/25/73 8/29/73 9/26/73 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -0.3 4.2 7.2 7. 1 5. 1 3.5 1.1 -1.2 -4.4 PREPARED BY FEDERAL RESERVE BANK OF ST. LOU I* MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 275 -------------1---------- ,----- BILLIONS OF DOLLARS ----- ---------- ------------- 275 264.9 263.0 263.8 264.0 263.5 261.8 SEP Z 16 30 13 27 11 23 SEP 8 22 6 20 3 17 31 OCT 14 26 14 26 11 23 FEB MAR LATEST DATA PLOTTED WEEK ENDING; SEPTEMBER 26, 9 23 6 20 4 16 I 13 29 12 26 10 24 APR 1973 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING; 9/27/72 1/24/73 2/28/73 3/28/73 4/25/73 5/23/73 6/27/73 6.4 5.4 5.3 6.2 7. 1 7.0 6.0 5.3 2.0 2.8 5.2 7.0 6.8 5.4 4.3 2.6 6.0 8. 1 7.6 5.8 4.5 8.9 10.5 9.3 6.8 5.1 13.2 10.8 7.2 5.2 9.7 5.5 3.5 1.5 0.0 7/25/73 TO THE AVERAGE OF FOUR WEEKS ENDING; 2/28/73 3/28/73 4/25/73 5/23/73 6/27/73 7/25/73 8/29/73 9/26/73 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -2.4 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 SO 13 27 !1 SEP 25 8 22 6 20 S 17 31 OCT 1972 14 28 14 26 11 FEB MAR LATEST DATA PLOTTED WEEK END INOi SEPTEMBER 26, CURRENT DATA APPEAR 9 23 APR 6 20 JUN 1973 4- 18 1 13 29 12 26 10 24 JUL 1973 IN THE BOARD OF GOVERNORS* H.fi RELEASE. * NET TIME DEPOSITS ARE DEFINED ASs SAVINGS DEPOSITS. TIME DEPOSITS OPEN ACCOUNT PLUS TIME CERTIFICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 8100,000 OR MORE BY LARGE WEEKLY REPORTING COMMERCIAL BANKS. NET TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 9/27/72 1Z24/73 2/28/73 3/28/73 4/25/73 5/23/73 6/27/73 7/25/73 11.1 11.1 10.7 10.5 10.3 9.8 10.2 10.1 8. 1 8.2 8.4 8.5 8.0 8.9 8.9 9.6 9.5 9.3 8.5 9.5 9.4 8.8 8.8 8.0 9.2 9. 1 9. 1 7.9 9.4 9.3 7.2 9.5 9.3 9.8 9.4 1 1.3 TO THE AVERAGE OF FOUR WEEKS ENDING: 2/28/73 3/28/73 4/25/73 5/23/73 6/27/73 7/25/73 8/29/73 9/26/73 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK PLUS TIME DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 630 c=---------- ----------------- BILLIONS OF DOLLARS ----- ---------- -----------3 630 MONEY STOCK PLUS TOTAL TIME DEPOSITS MONEY STOCK PLUS NET TIME DEPOSITS** 2 16 30 13 27 II Z5 SEP $22 6 20 3 17 31 OCT M 21 14 28 11 23 FEB MAR LATEST DATA PLOTTED WEEK ENDING* SEPTEMBER 26, 9 23 6 20 4 18 1 13 29 12 26 10 24 APR 1973 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE. *8 M* 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: 9/27/72 1/24/73 2/28/73 3/28/73 4/25/73 5/23/73 8.8 8.3 8. 1 8.5 8.8 8.4 8.2 7.8 5. 1 5.6 6.9 7.8 7.4 7.2 6.7 6.2 7.8 8.7 8.0 7.6 7.0 8.9 9.6 8.6 8.0 7.2 11.0 9.2 8.3 7.3 8.3 7.5 6.4 6/27/73 7/25/73 TO THE AVERAGE OF FOUR WEEKS ENDING: 2/28/73 3/28/73 4/25/73 5/23/73 6/27/73 7/25/73 8/29/73 9/26/73 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS WEDNESDAY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 2 16 30 13 27 11 25 8 22 6 20 3 IT 31 14 28 14 28 1 I 23 FEB MAR 9 23 BILLIONS OF DOLLARS 6 20 4 18 1 IS 29 12 26 10 24 APR LATEST DATA PLOTTED WEEK ENDINGj SEPTEMBER 26, 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. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis MONEY AND TIME DEPOSIT DATA 1973 AUG. SEP. OCT. 1 6 15 22 29 5 12 19 26 3 10 ir 24 31 CERTIFICATES OF DEPOSIT BILLIONS NET TIME DEPOSITS * 65.5 66.2 67.3 67.4 67.6 67. 1 67.4 68. 1 67.0 284.6 285.5 285.9 287,2 287.3 288.4 287.9 287.8 289.0 M2 UK 548.4 549. 1 550.3 552. 1 550.2 552.2 551.9 551.3 550.9 * SEE FOOTNOTE PAGE 6. 38* 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 B11 455 445 435 CREDIT PROXY ADJUSTED 1/ 425 415 405 CREDIT PROXY 395 385 2 16 30 1 3 27 11 25 8 22 6 20 3 17 31 14 28 14 28 11 25 FEB MAR 9 23 6 20 4 18 I 15 29 12 26 10 24 APR 1972 1973 LATEST DATA PLOTTED WEEK ENDING. SEPTEMBER 26. 1973 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE. 17 mSWPSS CERTA?N^OTHER’ NONDEPOST T^SOURCI-sIP^ ' 1913 AUG. SEP. BILLIONS 22 29 5 12 19 26 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis CREDIT -PROXY CRED IT PROXY ADJUSTED 437.7 435.7 437.9 439.8 439. 1 437.3 444.9 443.2 445.2 446.7 446.6 444.8 EUR0D0LL*R BORROW INGS OF COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF THE FOUR WEEKS ENDING SEPTEMBER 26, 1973 FROM THE FOUR WEEKS ENDING: CRED1T CRED1T PROXY PROXY A JUL. JUN. MAY APR. MAR. FEB. SEP. 25, 27, 23, 25, 28, 28, 27, 1973 1973 1973 1973 1973 1973 1972 10.3 9.5 9.8 10.4 10.9 12.3 12.4 1 1.6 10.9 11.2 1 1 .5 11.9 13.3 13. 1 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 [ v MUNICIPAL BONDS DISCOUNT RATE -LLJJ-LL. I III 1 I I I II II L.L1.1.1l.i 11 I I I I 4 18 AUG I 15 29 13 27 10 24 8 22 SEP OCT NOV DEC 1972 3 19 JAN I I I I I I _______ _______________ 2 16 2 16 30 13 27 II 25 6 22 FEB MAR APR MAY JUN 1973 6 20 9 IT 31 14 28 12 28 JUL AUG SEP OCT LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: OCTOBER 5. 1973 1973 AUG. SEP. OCT. 3 10 17 24 31 7 M 21 28 5 * 12 19 26 CORPORATE AAA BONDS 3-MONTH TREASURY BILLS 3-5 YEAR GOVERNMENT SECURITIES LONG-TERM GOVERNMENT SECURITIES MUNICIPAL BONDS WK 7.53 7.61 7.71 7.77 7.73 7.64 7.63 7.65 7.60 7.59 8.30 8.70 8.88 8.71 8.62 8.80 8.94 8.38 7.13 7.39 8.02 8.16 7.80 7.50 7.35 7.27 7.45 7.10 6.85 6.86 6.90 6.97 6.83 6.74 6.62 6.45 6.52 6.43 6.28 6.27 5.59 5.58 5.47 5.44 5.34 5.18 5. 18 5.05 5.00 N. A. * AVERAGES OF RATES AVAILABLE. St* 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 — FEDERAL FUNDS RATE PRIME BANK I-LOAN RATE COMMERCIAL PAPER OCT 1972 NOV 3 19 2 16 JAN FEB Z 16 30 13 27 11 25 APR 8 22 6 20 3 17 31 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. OCTOBER 5, 1973 AUG. SEP. OCT, 3 10 17 24 31 7 14 Z\ ZB 5 S 12 T9 26 PRIME COMMERCIAL PAPER 4-6 MONTH 9.88 10.05 10.25 10.25 10.45 10.38 10.48 10.45 9.65 9.46 FEDERAL FUNDS xx 10.57 10.39 10.39 10.52 10.79 10.79 10.74 10.80 10.84 10.72 M 26 12 26 MAY PRIME BANKERS’ ACCEPTANCES 9.85 10. 15 10.25 10.25 10.25 10.25 10.35 10.43 9.75 9.50 1973 90 DAY CD’S WS 10. 14 10.52 10.81 10.71 10.93 10.93 10.90 10.97 10.37 9.63 * AVERAGES OF RATES AVAILABLE. FEDERAL FUNDS AND CD RATES ARE SEVEN-DAY AVERAGES FOR WEEK ENDING THEioAHD OF^oSeRNO^'^^LEASe'8 C“""ENT WPEAR CD DATA ARE SECONDARY MARKET RATES. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11.0 BORROWINGS FROM FEDERAL RESERVE BANKS ALL MEMBER BANKS 1813 IN THE NATION AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS 3.0 -------------1---------- 1----- BILLIONS OF DOLLARS ---------------- ----------- -n 3.0 MILLIONS. AUG. 29 2561 12 19 26 3 1487 1707 2191 1519 BORROWINGS 2 16 SO 13 27 11 25 8 22 6 20 5 17 31 AUG SEP DEC JAN OCT 1972 NOV 14 28 14 28 11 25 FEB MAR APR 8 23 6 20 MAY JUN 1973 4 18 1 JUL AUG 15 26 12 26 SEP 10 24 OCT LATEST DATA PLOTTED WEEK ENDING: OCTOBER 3, 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 _ SEPTEMBER 26, 1973 FROM THE FOUR ^ ................... ~NG: BUSINESS BUS I NESS LOANS LOANS ADJUSTED JUL. ____ _ MAY APR. — MAR. — FEB. __ SEP. 25 _. , 23, 25, 28, 28, 27, 973 .973 1973 1973 1973 1973 1972 112 1 10 108 BUSINESS LOANS ADJUSTED 1/ 17.4 19.8 23.9 25.5 19.4 106 18.9 21.2 104 26.6 102 100 98 96 BUSINESS LOANS BUSINESS .LOANS. AUG. 22 SEP. BUSINESS LOANS ADJUSTEP- 108,657 5 94 92 90 88 86 I I I I I I I 2 16 SO 13 27 11 25 SEP OCT 1972 8 22 6 20 3 17 31 14 28 14 28 11 25 FEB MAR APR 8 23 6 20 JUN 1973 4 18 1 15 28 12 26 10 24 JUL LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 26, 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