Full text of U.S. Financial Data : Week Ending: October 6, 1976

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Week ending: October 6r 1976

LiBRARV
DEC 2 6 197?

Over the most recent three months the narrowly defined money
stock (Ml) Increased at a 4 percent annual rate, while over the previous
three months it increased at a more rapid 6.7 percent annual rate. Both
components of the money stock — demand deposits plus currency and coin
held by the nonbank public — have grown at slower rates over the most
recent period. Over the most recent three months, demand deposits and
currency increased at annual rates of 2.7 and 7.9 percent, respectively.
This compares to a 5.5 percent growth rate for demand deposits and a 9.8
percent growth rate for currency over the previous three months.
The broadly defined money stock (M2) increased at an annual
rate of 11 percent over the most recent three months. Over the previous
three months M2 increased at almost the same rate (10.4 percent).
M2 includes Ml plus net time deposits at commercial banks. Net time
deposits increased at a 16.4 percent rate over the most recent three
months, compared to a slower 13.3 percent rate over the previous three
months. The changes in the rates of growth of Ml and net time deposits
between these two periods have offset each other, resulting in a nearly
constant rate of growth of M2 over the two periods.
In the most recent week many commercial banks have lowered
their prime bank loan rate to 6.75 percent from 7 percent. The prime
rate is the interest rate charged by banks on short-term loans made
to their large commercial customers with the highest credit rating.
The prime rate had been at 7 percent since August 2, 1976, when it
was lowered from 7.25 percent.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis
Released. October 8, 1976

MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

12IS.

BILLIONS OF DOLLARS
130

MILLIONS
128

126

124

122

120

116

0 20

3 17

AUG

SEP

1 15 20 12 26 10 24

7 21

4 16

JAN

FEB

3 17 31

14 20 12 20

1975

0 23

7 21

4 10

JUL

AUG

1 15 29 13 27

1976

LATEST DATA PLOTTED WEEK ENDING. OCTOBER 8, 1976
THE MONETARY BASE CONSISTS OF MEMBER BANK RESERVES AT THE FEDERAL RESERVE BANKS AND CURRENCY
IN CIRCULATION 1 CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF COMMERCIAL BANKS). ADJUSTED
FOR RESERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE SAME TYPE OF DEPOSITS BETWEEN BANKS
WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY. THE MAJOR SOURCES OF THE MONETARY BASE ARE
FEDERAL RESERVE CREDIT AND THE GOLD STOCK. DATA ARE COMPUTED BY THIS BANK. A DETAILED DE­
SCRIPTION OF THE SOURCES AM) USES OF THE MONETARY BASE IS AVAILABLE AS REPRINT NO. 31 FROM
THE FEDERAL RESERVE BANK OF ST. LOUIS.

MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGi
TO THE AVERAGE
OF FOUR WEEKS
ENDING.
3/ 3/76
4/ 7/76
5/ 5/76
6/ 9/76
7/ 7/76
8/ 4/76
9/ 8/76
10/ 8/76

2

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

10/8/75

1/7/76

3/3/76

4/7/78

5/5/76

6/9/76

7/7/76

8/4/78

7.3
7.3
7.7
7.4
7.8
6.8
7.3
7.3

7.4
8.0
7.6
8.0
6.6
7.3
7.3

8.7
7.7
8.4
6.3
7.2
7.3

7.8
8.7
5.9
7.2
7.3

8.0
4.6
6.5
6.7

3,9
6.8
7,0

5.1
5.9

9.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MULTIPLIER v
ADJUSTED FEDERAL RESERVE CRED I T
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
2.8

z/
RATIO
2.8

2.7

2.7

MULTI PLIER _|

2.6

2.6

2.5

2.5

2.4

2.4

2.3

■

LzLSL
m

2.2

!lll Ll.1.1 .ini

it

i J-LJ 1, III 11 1 -11 11 1
LATEST DATA PLOTTED WEEK ENDING* SEPTEMBER 29. 1976

1 I

1 1 1

HA I 1 a

—

111

1 J 1 1 J±L\1,1.1 1 1 1 1 1 I i-LLL

BILLIONS OF DOLLARS

BILLIONS OP DOLLARS
11«

'OUNDED ANNUAL RATES
WMC£. AVEBACE OT
FOUR *EEKS EM)INC
MER 6. 1976 FROM
FOUR WEEKS ENDING,
,
,
.
.
,
,

4.
7,
9.
5,
7,
7*
8,

1976
1976
1976
1976
1976
1976
1975

10.5
5.4
7.5
6.7
7.6
7.4
7,9

116
114
112
110

ADJUSTED FEDERAL RESERVE CREDIT

106
106
104
19T6

MILLIONS — 102
100

96
I » I I I I I I I I
6 20

J I?

AUG

SEP

1 IS 29 12 26 10 24

7 21

4 16

JAN

FEB

S 17 ST 14 26 12 26

9 23

7 21

4 16

JUL

AUG

1

15 29 IB 27

1976
LATEST DATA PLOTTED WEEK EMMN6, OCTOBER 6, 1976
1/ RATIO OF MONEY STOCK (Ml ) / MONETARY BASE.

27

oonsistsof FISf2£fvR£2l!?Yi holdings of securities, loans, float
AND OTHER ASSETS. ADJUSTED FEDERAL RESERVE CREDIT IS COMPUTED BY SUBTRACfIMG TREASURY
DEPOSITS AT FEDERAL RESERVE BANKS FROM THIS SERIES. A*CAD JUSTING THE SERIES FOR RE­
SERVE REQUIREMENT RAT 10 CHANGES AND SHIFTS IN THE IaME TYPE OF DEPOSITS BETWEEN BA#4(S
WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY. DATA ARE COMPUTED BY THISBANKL


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

MONEY STOCK PLUS NET TIME DEPOSITS (M2)
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
730

BILLIONS

725
720

715.6
715.6

715

720.2
719.8

710
705
700
695
690

685 =■

685
680
675
670
665
660
655
650

6 20

3 17

AUG

SEP

1 13 29 12 28 10 24

7 21

4 13

JAN

FEB

3 17 31

14 29 12 20

APR

9 23

MAY

7 21

4 16

JUL

AUG

1 15 29 13 27

LATEST DATA PLOTTED WEEK ENDING* SEPTEMBER 29. 1976
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.

MONEY STOCK PLUS NET TIME DEPOSITS (M2)
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING*
10/1/75

12/31/75

9.8
9.7
10.6
10.5
9.9
10.2
10.2
10.2

12.2
13.3
12.6
T1.3
11.5
11.3
11.2

3/3/76

3/31/76

4/28/76

5/26/76

6/30/76

7/26/76

13.2
10.4
11.0
10.8
10.7

7.6
9.3
9.5
9.6

9.1
9.5
9.6

11.5
11.0

10.0

TO THE AVERAGE
OF FOUR WEEKS
ENDING*
V 3/73
3/31/76
4/28/76
5/26/76
6/30/76
7/28/76
9/ 1/76
9/29/78

4

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

13.0
11.9
10.1
10.7
10.6
10.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK ( Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

315

12ZS.
AUG.

BILLIONS,

25

310

308.9

305

300

296

290

e 20

3 17

AUG

SEP

I IS 29 12 26 10 24

7 21
JAN

4 13
FEB

3 17 31 14 20 12 26
APR MAY

9 23

7 21
JUL

4 16
AUG

1 15 29 13 27

1975
LATEST OATA PLOTTED WEEK ENDING* SEPTEMBER 29, 1978
CURRENT DATA APPEAR IN TIC BOARD OF GOVERNORS' H.6 RELEASE.
THE MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AND COIN HELD BY THE N09SANK PUBLIC.

MONEY STOCK (Mi )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING*

10/1/75

12/31/75

2.6
3.2
5.1
5.2
4.4
4.6
4.8
4.3

5.0
7.9
7.6
5.9
6.2
6.1
5.2

3/3/76

3/31/76

4/28/76

5/26/76

6/30/76

7/28/76

11.9
6.7
7.1
6.8
5.4

2.1
4.0
4.5
3.2

3. T
4.0
2.6

6.9
4.0

2.1

TO THE AVERAGE
OF FOUR WEEKS
ENDING*

3/ 3/76
3/31/76
4/28/76
5/26/76
6/50/76
7/28/76
9/ 1/76
9/29/76


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

12.2
10.2
6.7
7.1
6.8
5.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT

BONDS

1111111111

CORPORATE

n

LOAN RATE

111 1111111111

1i

MUNICIPAL
BOND:

___ f

t

n

11

1

n

111111

1

m

COMMERCIAL PAPER

a 22

9 19

9 17 91 14 at 12 29

NOV

9 29

9 20

5 19

2 1C 50 14 29 11 25

MAY

DEC

9 23

C 20

9 IT

1 19 29

JUN

1975
LATEST DATA PLOTTED ARE AVERAGES OP RATES AVAILABLE FOR THE MEEK EM>tN6t OCTOBER 8, 1976

i«re
auc.

e
13
20
27
SEP. 3
10
17
24
OCT.
1
8 X
15
22
29

90 DAY
CD’S MM

PRIME
COMMERCIAL
PAPER
4-6 MONTH

PRIhE
BANKERS'
ACCEPTANCES

CORPORATE
A«a BONDS

MUNICIPAL
BOMISmi

5.38
5.45
5.35
5.35
5.33
5.34
5.35
5.28
5.33
5.28

5.50
5.50
5.50
5.43
5.45
5.50
5.50
5.38
5.38
5.38

5.34
5.34
5.33
5.30
5.28
5.31
5.30
5.28
5.25
5.25

8.51
8.48
8.42
8.42
8.41
8.38
8.39
8.36
8.37
8.35

6.85
6.60
6.60
6.58
6.52
6.52
8.50
6.52
6.47
N.A.

-w iUCBjffg y RATPS AVA (I ABLE

6

EARLIER THAN DATES SHOWN.
N.A. - NOT AVAILABLE


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

ffiPSSK ?»*M9 «D*SO.Y TWO
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED SHORT-TERM

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
7.5 --

PERCENT
-- 7.5

L

IL L

IM J ,.

TTT~r

7.0

-

6.5

E/

7.0

6.5

-

j
DISCC UNT R.ATE

6.0

6.0
-

-

5.5
.1

L .L J —

5.0

X-MOA rm
IU. MARKIT
r«

tr

Yl

5.5

<
US""

\ :
------s.

5.0

1

l- L - L - L . L L iJ

4.5

-

FEDEI AL FU NDS RA1 E

4.5

-

4.0

J

i

rr

4.0

l.i l

mi.. l-L-L. _LLL _LLLL _LLL _1_LL 1 1 1 1 _Lil_ 1.1,1 .1 1.11. _LLL 1 1 1

• 22

St* 3 17 31

14 as 12 2C

AUG

SEP OCT
NOV
1975

DEC

* »

JAN

C30

5 T*

2 IS 30 t4 M T1 25

FEE

MW

APR

MAY

JUN
1976

• 23 • 20

JUL

AUG

3 17

SEP

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGf OCTOBER 6

&3S&
1976
AUG.

6
13
20
27
SEP. 3
10
17
24
OCT.
1
8 X
15
22
29

treaKjry

FEDERAL
FUNDS Ml

■ ILLS

BILL

5.56
5.25
5.29
5.28
5.28
5.25
5.22
5.21
5.32
5.17

5.16
5.17
5.15
5.11
5.09
5.11
5.10
5.05
5.06
5.08

5.72
5.65
5.64
5.59
5.56
5.53
5.52
5.43
5.46
5.37

.

ill il
1 15

OCT

1976

3-6 YEAR
GOVERNMENT
SECURITIES

SECURITIES

7.12
7.06
7.04
6.96
6.91
6.88
6.89
6.80
6.80
6.64

7.62
7.80
7.79
7.76
7.72
7.70
7.66
7.62
7.63
7.58

* AVERAGES OF RATES AVAILABLE.
rm SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H,9 RELEASE.
RATES ON LONG-TERM GOVERNMENT SECURITIES ARE COMPITED BY THE FEDERAL RESERVE BANK OF ST. LOUIS.


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

NET TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

6H.UQNS
AUG. 25

6 20

3 17

AUG

SEP

409-7
411.3
412.8
414.2
414.9

I 15 29 12 2f 10 24

7 21

4 1*

JAN

FEB

3 17 31

M Z* 12 2*

APR

1975

» 23

MAY
1976

7 21

4 IS

JUL

AUG

1 15 29 13 27

LATEST DATA PLOTTED KEEK ENDING* SEPTEMBER 29, 1976
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 TUC dERTIFICATES 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*
3/3/76 3/31/76 4/28/76 5/26/76 6/30/76 7/28/76
10/1/75 12/31/75
TO THE AVERAGE
OF FOUR WEEKS
ENDING*
3/ 3/76
3/31/76
4/28/76
5/26/76
6/30/76
7/28/76
9/ 1/76
9/29/78


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

15.9
15.2
15.3
14.9
14.5
14.7
14.6
15.0

18.5
17.9
16.8
15.8
15.9
15.6
16.0

13.6
13.2
12.8
13.5
13.6
14.4

14.1
13.3
T4.0
14.0
14.8

12.1
13.4
13.6
14.6

14.0
14.0
15.2

15.1
16.4

16.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

313.
AUG. 25

BILLIONS OF DOLLARS
240

BIIUQNS.
227.7
227.4
225.2
229.8
226.7
225.4

235

230

225

220

215

6 20

3 17

AUG

SEP

1 15 2» 12 26 10 24

7 2!

4 15

3 17 31 14 XI 12 26

JAN

FEB

APR

1975
LATEST DATA PLOTTED WEEK ENDING] SEPTEMBER 29, 1976

• 23

7 21

4 II

1 IS M 13 27

MAY
1976

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' M.6 RELEASE.

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING]
10/1/75 12/31/75
3/3/76 3/31/76 4/28/76 5/26/76 6/30/76 7/26/76
TO THE AVERAGE
OF FOUR WEEKS
ENDING]
3/ 3/76
3/31/76
4/28/76
5/26/76
6/30/76
7/28/76
9/ 1/76
9/29/76


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

0.1
0.8
2.9
3.3
2.4
3.0
3.1
2.4

2.7
6.1
6.0
4.1
4.8
4.7
3.6

11.0
9.3
5.3
6.0
5.8
4.2

11.8
5.5
6.3
5.9
4.1

0.5
3.1
3.5
1.8

1.8
2.8
0.9

6.6
2.7

0.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
BILLIONS OF DOLLARS

WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
86
64
82
80
78
76
74
72
70
68
66
64
62

6 20 S 17
AUG SEP

1 15 20 12 2* 10 24

7 21
JAN

4 II 3 17 31 14 2* 12 26 9 25
FEB
APR MAY
1975
1976
LATEST DATA PLOTTED WEEK ENDING* SEPTEMBER 29, 1976

7 21
JUL

4 tl
AUG

1 15 29 13 27

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF *100,000 OR MORE BY LARGE
SEEKLY REPORTING COMMERCIAL BAMCS.

1976
AUG.

4
11
18
25
SEP.
1
8
15
22
29
OCT. 6
13
20
27

10

http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

CERTIFICATES CERTIFICATES
OF DEPOSIT
OF DEPOSIT
NOT SEAS. ADJ. SEAS. ADJ.
67.3
66.6
66.2
66.0
65.7
65.3
64.9
65.1
65.8

66.5
65.4
64.4
63.5
62.8
62.4
62.0
62.2
62.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
ALL MEMBER BANKS

IN THE NATION

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
-- 1------1---- 1.5

US ---- ---- ---

6 20

3 17

AUG

SEP

1 15 20 12 26 10 24

7 21

4 IS

3 17 31 14 2S 12 26

OCT
NOV
DEC
JAN FEB
MAR
1975
LATEST DATA PLOTTED SEEK ENDING. OCTOBER 6, 1976

APR

MAY

0 23

JUN
1976

7 21

4 IS

1 13 20 13 27

JUL

AUG

SEP

OCT

BUSINESS LOANS
(COMMERCIAL AND INDUSTRIAL)
BILLIONS OF DOLLARS

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
124
122
120

116
116
114
112
110

106
106

_ COMPOUH)ED ANNUAL RATES

104
wtr
cb. iv/o
rnu
THE iwwotn
FOUR BEEfts
ENDING.
102
100

— APR. 28. 1976
“OCT.
I HI I Ml I
6 20

3 17

AUG

SEP

96
-9.6
96

i I 1 I I I III

1 15 20 12 26 10 24

7 21

4 16

JAN

FEB

3 17 31 14 26 12 26

APR

MAY

0 23

mi
Li i1 ii13 i 20
4 16

7 21

JUL

13 27

AUG

LATEST DATA PLOTTED WEEK ENDING. SEPTEMBER 29, 1976


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

MEMBER BANK DEPOSITS
SUBJECT TO RESERVE REQUIREMENTS
(CREDIT PROXY )
AVERAGES OF DAILY FIGURES
SEASONAL.LY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

= COMPOUNDED ANNUAL RATES OF CHANCE,
~ AVERAGE OF THE FOUR WEEKS ENDING
= SEPTEMBER 29. 1976 FROM THE FOUR
WEEKS ENDING*
CREDIT
CREDIT
PROXY

■fBQXy,
28,

1976

26,
28,

1976
1976

apajsthi

CREDIT PROXY ADJUSTED 1/

1, 1975

CREDIT PROXY

BILLIONS
CREDIT
PROXY

CREDIT

fftOKY-

adjusted

512.6
514.0

522.6

516.0
514.2

6 20

3

AUG

SEP

17

1

15

29 12 26

10

24

7

21

JAN

4

14

3

17

31

14 26

APR

FEB

524.7

112.1.1261 U-IX-LU.
9 23
7 21

4

MAY

AUG

JUL

16

1

15 29 13 27

1976

1975
LATEST DATA PLOTTED VEEK ENDING* SEPTEMBER 29. 1976
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE.

1/ INCLUDES MEMBER BANK DEPOSITS. BANK-RELATED CCMCRCIAL PAPER. EURODOLLAR BORROWINGS OF
U.S. BANKS, AND CERTAIN OTHER NONDEPOSIT SOURCES.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS