Full text of U.S. Financial Data : Week Ending: October 8, 1980

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Week ending: October 8, 1980
^ UBRARY

ftV 2 8 W
The prime loan rate changed 15 times in both 1978
and 1979. Twice during 1978 and three times during 1979,
these changes in the prime rate occurred intra-weekly. In
contrast, the rate has already changed 27 times in 1980 (see
page 6), and during six weeks the rate changed more than
once. To capture these intra-week movements, the prime
rate will henceforth be computed as a seven-day
(Thursday-Wednesday)
average
rate
in
this
release.
Previously, the rate reported was the rate prevailing on the
last day of the business week.
The 250 basis point increase in the prime rate over
the past two months has tended to follow other short-term
interest rates. This is especially true of the rate on 90-day
certificates of deposit (CDs), which are a primary source of
additional loanable funds to banks. For example, since the
week ending August 1, the rate paid on 90-day CDs has
increased about 340 basis points.
Banks' decisions to raise the prime rate have also
been affected by the recent increase in business loan demand
(page 11). For example, business loans (commercial and
industrial) at weekly-reporting large commercial banks
declined at a 4.2 percent rate from the four weeks ending
April 2 to the four weeks ending July 30. Since the four
weeks ending July 30 to the four weeks ending October 1,
however, business loans have increased at a 22.2 percent
rate. Commercial banks have increased their large time
deposits to finance the recent growth of business loans.
Large time deposits have increased about $4.4 billion since
early August, after declining about $11.4 billion from late
April until early August.

Prepared by Federal Reserve Bank of St. Louis


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

Released: October 10, 1980

2
ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
168

BIIUPNS
163.6
164.0
164.5
164.4
162

160

5

NOV

10

2

16 50

13 27

FEB

DEC

12 26

B 23

7 21

MAY

MAR

JUN

AUG

SEP

1979
LATEST DATA PLOTTED WEEK ENDING-. OCTOBER 8,

1980

THE ADJUSTED MONETARY BASE CONSISTS OF: ( I ) MEMBER BANK RESERVES AT THE FEDERAL RESERVE
BANKS. (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF
COMME&CIAL BANKS), AND C3 ) AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES.
THE
MAJOR SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT.
DATA ARE COMPUTED
BY THIS BANK.
A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM
THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
10/10/79

1/9/80

3/5/80

4/9/80

4.9
5.8
6.6
7.6
8.9
8.7

5.3
6.5
7.8
9.4
9. 1

AVERAGE OF FOUR WEEKS ENDING:
5/7/80

6/11/80

7/9/80

8/6/80

13.7
11.7

11.6

TO THE AVERAGE
OF FOUR WEEKS
ENDING:

.

3/ 5/80
4/ 9/80
5/ 7/80
6/11/80
7/ 9/80
8/ 6/80
9/10/80
10/ 8/80

7.9
7.7
7.0
7.0
7.3
7.7
8.5
8.4

7.2
6. 1
6.4
6.8
7.5
8.6
8.5

8.3
9.5
11.0
10.3

10.7
12.4
11.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

*


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

ADJUSTED BANK RESERVES ^
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS

of

dollars

billions

AUG.

49.4
49.8
50.5
50.4
49.7

FEB

MAR

1979
LATEST DATA PLOTTED WEEK ENDING: OCTOBER I, 1980
1/ ADJUSTED MONETARY BASE LESS CURRENCY HELD BY THE NONBANK PUBLIC (MEMBER BANK RESERVES AT
FEDERAL RESERVE BANKS ( + ) CURRENCY HELD BY COMMERCIAL BANKS).

ADJUSTED BANK RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
10/3/79

1/2/80

2/27/80

4/2/80

4/30/80

6/4/80

7/2/80

4. 1
10.3
12.5

15.2
16.7

7/30/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/27/80
4/ 2/80
4/30/80
6/ 4/80
7/ 2/80
7/30/80
9/ 3/80
10/ 1/80

8.2
7.4
6.8
5.8
5.2
5.5
7.0
0.0


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

4.3
3.9
3.0
2.5
3.3
5.7
7.0

3.7
2.3
1.8
3.0
6. 1
7.8

1.2
0.8
2.6
6.5
8.5

0.0
2.5
7.3
9.5

20.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY STOCK (MIA)
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
395 ------------- 1---------- 1------

BILLIONS OF DOLLARS
------------------------------- 395

6JU.1QNS
__ AUG.

379.4
382.3
383.8
386.2
382.5
381.7

— OCT.

4

AUG

SEP

OCT
1979

NOV

DEC

JAN

FEB

LATEST DATA PLOTTED WEEK ENDING: OCTOBER I,

MAR

APR

18

MAY
JUN
1980

2

16 30

JUL

13

AUG

27

10 24

SEP

8 22

OCT

1980

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
MIA CONSISTS OF CURRENCY AND COIN PLUS COMMERCIAL BANK DEMAND DEPOSITS HELD BY THE NONBANK
PUBLIC EXCLUDING THOSE HELD BY FOREIGN BANKS AND OFFICIAL INSTITUTIONS.

MONEY STOCK (MIA)
COMPOUNDED ANNUAL RATES OF CHANGE,
10/3/79

1/2/80

2/27/80

4/2/80

AVERAGE OF F-OURv WEEKS ENDING:

4/30/80

6/4/80

TO THE AVERAGE
OF FOUR WEEKS
END 1NG:
2/27/80
4/ 2/80
4/30/80
6/ 4/80
7/ 2/80
7/30/80
9/ 3/80
10/ 1/80

7/2/80

I
5.4
3.8
0.5
0.8
1.8
2.4
4. 1
4.8


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

1
3.4
-2.2
-1 . 1
0.6
1 .6
4.0
5.0

-9.9
-5.6
-2. 1
-0.4
3. 1
4.4

-7.4
-2.0
0.2
4.4
5.8

6.3
6.8
10.2
10.9

9.5
13.3
13.4

14.3
14.2

7/30/80

•

17.0

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

MONEY STOCK ( MlB )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
420 ,------------- ,---------- .-----

BILLIONS OF DOLLARS
------------------------------ 420

BILLIONS
— AUG.

401.3
404.7
406.9
409.5
405.6
404.5

OCT.

I I I I
AUG

SEP

OCT
1979

NOV

DEC

JAN

FEB

MAR

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 1.

APR

MAY
JUN
1980

JUL

AUG

SEP

OCT

1980

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
MlB CONSISTS OF MIA PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITARY INSTITUTIONS.

MONEY STOCK (MIB)
COMPOUNDED ANNUAL RATES OF CHANGE ,
10/3/79

1/2/80

2/27/80

4/2/80

AVERAGE OF FOUR WEEKS ENDING:

4/30/80

6/4/80

7/2/80

13.5
16.7
16.7

17.2
17.1

7/30/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/27/80
4/ 2/80
4/30/80
6/ 4/80
7/ 2/80
7/30/80
9/ 3/80
10/ 1/80

5.9
4.6
1 .8
1 .6
3.0
3.7
5.5
6.3


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

4.5
-0.4
-0. 1
2. 1
3.3
5.8
6.9

-7.3
-4.5
-0.4
1.7
5.2
6.6

-6.5
-0.2
2.4
6.6
8. 1

7. 1
8.4
12.0
12.9

19.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

20.0

20.0

19.0
18.0
17.0

17.0

16.0

16.0

PRIME BANK
LOAN RATE

15.0

14.0

90 DAY CD'S
13.0

13.0

12.0

12.0
COMMERCIAL PAPER

I 1 .0
CORPORATE AAA BONDS

MUNICIPAL
BONDS xx

JJ-Lil 111

1979
1980
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: OCTOBER 10,

1 980
AUG.

SEP.

OCT.

1
8
15
22
29
5
12
19
26
3
10 *
17
24
31

90 DAY
CD’S

PRIME
C0M4ERC 1AL
PAPER XX*

8.93
9.29
9. 46
10. 13
10.80
10.72
10.90
11.34
11.45
12.81
12.34

8.64
8.90
9. 16
9.93
10.44
10.39
10.62
10.94
11.25
12.51
11.93

PRIME
BANKERS'
ACCEPTANCES
8.97
9. 1 4
9.39
10. 14
10.77
10.63
10.80
11.07
11.37
12.51
12. 13

1980

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

M*JN 1C1 PAL
BONOS XX

11.33
11.44
11.57
11.70
11.88
11.89
11.90
12.00
12.15
12.30
12.21

12.70
12.97
13.07
13.28
13.37
13.55
13.57
13.69
13.82
14.12
14.12

8.59
8.61
8.53
8.68
8.85
8.78
8.82
8.98
9. 18
9.22
N. A.

* AVERAGES OF RATES AVAILABLE.
» BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA,
so» DATA ARE 4-MONTH COMMERCIAL PAPER RATES.
N.A. - NOT AVAILABLE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
20.0 r—

PERCENT
—I 20.0
19.0

19.0

18.0
17.0

17.0
16.0

16.0

FEDERAL FUNDS RATE

15.0

15.0
14.0
13.0

3-MONTH V
TREASURY BILL

12.0
DISCOUNT
RATE
11.0

5-YEAR
TREASURY SECURITIES

AUG

SEP

OCT
1979

NOV

DEC

JAN

FEB

MAR

APR

MAY

JUN
1980

JUL

AUG

SEP

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: OCTOBER 10,

1980
AUG.

SEP.

OCT.

1
8
15
22
29
5
12
19
26
3
10 X
17
24
31

FEDERAL
FUNDS XX

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL

8.98
9.60
8.85
9.35
10.03
10.47
10.22
10.64
10.86
12.38
12.59

8.44
8.58
8.60
9.41
10.01
9.78
10.09
10.26
10.45
11.39
11.24

8.28
8.87
8.89
9.77
10.25
10.25
10.23
10.88
10.82
11.72
11.14

1-YEAR
TREASURY
BILL
8.43
8.61
8.94
9.85
10.28
9.84
10. 15
10.58
10.94
11.14
10.85

5-YEAR
TREASURY
SECUR1T1ES
9.92
10. 12
10.47
11.21
11.69
11.23
11.31
11.68
12.01
11.80
11.43

OCT

1980

LONG-TERM
TREASURY
SECUR1T1ES
10.51
10.65
10.86
11.02
11.26
11.03
11.14
11.37
11.66
1 1.71
11.35

* AVERAGES OF RATES AVAILABLE.
XX SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE.
*XM NEW ISSUE RATE
RATES ON LONG-TERM TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST. LOUIS.
TREASURY BILL YIELDS ON DISCOUNT BASIS.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
MULTIPLIERS!/
CURRENCY OF MONEY STOCK MEASURES 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

1980

RATIO

RATIO
MONEY MULTIPLIERS

OCT.

RATIO
2.462

i-'466
2! 462

OCT.

i-L-LLJ 1 I 1

I I I I I I I 1 I I I I

1 I I I 1 I I I I

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 1. 1980
BILLIONS OF DOLLARS
118 ------------- ,---------- ,------

BILLIONS OF DOLLARS
------------------------------ 1 18

“

COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
---- THE FOUR WEEKS ENDING
OCTOBER 1
-----------------1980 FROM
—JUL. 30,
JUL.
JUN.
APR. 30,
— APR.
JAN.
2,
OCT.

1980
1980
1980
1980
1980
1980
1979

10.2
11.3
10.9
10>

CURRENCY

-L9.8Q

BILLIONS

I I I I 1 I I I I I I I I
I

15 29

12

26

10 24

7

21

NOV

5

IS

DEC

2

1630

15 27

FEB

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 1,

12 26

9 23

721

2

16 30

13

27

10 24

8

22

MAR
1980

1/ RATIO OF MONEY STOCK (MIA) OR (MIB) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

DEMAND DEPOSIT COMPONENT OF MONEY STOCK (MIA)
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILL.ONS OF dollars

BILLIONS OF DOLLARS
285

eiLiiQNs
280

— SEP.

265.7
268.5
270.4
272.3
268.4
267.0

280

275

2 16 30

13 27

12 26

9 23

7 21

AUG

SEP

1980
LATEST DATA PLOTTED WEEK ENDING: OCTOBER I,
CURRENT DATA APPEAR

1980

IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

DEMAND DEPOSIT COMPONENT OF MONEY STOCK ( MIA )
COMPOUNDED ANNUAL RATES OF CHANGE
10/3/79

1/2/80

2/27/80

4/2/80

AVERAGE OF FOUR WEEKS ENDING:
4/30/80

6/4/80

7/2/80

8.6
13.8
14.4

14.8
15.3

7/30/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/27/80
4/ 2/80
4/30/80
6/ 4/80
7/ 2/80
7/30/80
9/ 3/80
10/ 1/80

4.3
2.2
-2.2
-1 .9
-0.6
-0.0
2. 1
3. 1


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

1 . 1
-6.2
-5.0
-2.6
-1.5
1 .6
3.0

-15.8
-10.6
-6. 1
-4.0
0.4
2.3

-13.0
-6. 1
-3.4
2.0
4. 1

4.8
5. 1
9.7
10.9

19.8

PREPARED BY FEDERAL RESERVE BANK OF ST.

9

LOUIS

10
SAVINGS PLUS SMALL TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
StASUNALLY ADJUSTED

BILLIONS OF DOLLARS
480 r----------- 1---------- ,-----1980

BJ-Ll l QN$

AUG.

464.5
464.9
466. 1
466.5
466.3
466.6

— OCT.

I

IS

AUG

29

ILL IONS OF DOLLARS
—1---------- ------------n 480

12

SEP

26

10 24

OCT
1979

4

NOV

DEC

JAN

FEB

MAR

APR

18

MAY
JUN
I 980

2

16 SO

JUL

13

AUG

27

10 24

SEP

8

22

OCT

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 1, 1980
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000.

SAVINGS PLUS SMALL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
10/3/79

1/2/80

2/27/80

4/2/80

AVERAGE OF FOUR WEEKS ENDING:

4/30/80

6/4/80

7/2/80

13.4
12.0
10.8

12.0
10.4

7/30/80

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/27/80
4/ 2/80
4/30/80
6/ 4/80
7/ 2/80
7/30/80
9/ 3/80
10/ 1/80

7.2
7.7
8.6
8.3
8.7
9.2
9.3
9. 1


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

7.2
8.9
8.3
8.9
9.7
9.7
9.4

12.0
10.0
10.5
11.2
11 .0
10.4

10.0
10.7
11.6
11.2
10.5

8.9
0.7
0.5
9.8

8.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
All

MEMBER BANKS

SEP.

3

IN THE NATION
BILLIONS OF DOLLARS

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
5.5 rz----------i---------- 1-----1990 M|LUQN§

----- ---------- ----------rq 5.5

1348

-= 0.5

I

! 5 29

12 28 10 <4

7 21

5

NOV

DEC

IB

2 16 30 IS 27 12 26

9 23

7 21

4

MAY

JUN

18

2

16 50 13 27

AUG

10 24

8

SEP

LATEST DATA PLOTTED WEEK ENDING*. OCTOBER 8, 1980

BUSINESS LOANS

(COMMERCIAL AND INDJSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
172

COMPOUNDED ANNUAL RATES
— OF CHANGE, AVERAGE OF
— the four Weeks enoing
— OCTOBER I, 1980 FROM
•
_ the four Weeks ending-.
—
—
—
—
—

JUL. 30,
JUL. 2,
JUN. -1,
APR. 30,
APR. 2,
JAN. 2,
OCT. 3,

1980
1980
1980
1980
1980
1980
1979

22.2
17.3
12.5
6.3
4.2

170
168
166

'

164

■

162

-

160
158
156
154
152
150
MILLIONS
AUG. 27
SEP. 3

146
163,330

OCT.
I

15 29

AUG

12 26

SEP

10 24 7 21

OCT
1979

NOV

5 19

2

DEC

JAN

16 30

13 27

FEB

12 26

MAR

9 23

APR

7 21

4

18

MAY
JUN
1980

1

I..............IN
2 IS SO IS 27 10 24 a 22
AUG
SEP

LATEST DATA PLOTTED WEEK ENDING*. OCTOBER 1, 1980


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

148

144
142

0

12

LARGE TIME DEPOSITS

ALL COMMERCIAL BANKS
ILL IONS OF DOLLARS

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

ILL IONS OF DOLLARS

BILLIONS

3 19

2 16 SO 13 27 12 26
FEB
MAR

LATEST DATA PLOTTED WEEK ENDING* OCTOBER 1,

9 23

7 21
MAY

4 18
JUN

2 16 SO 13 27

AUG

10 24

8 22

SEP

1980

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.B RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100.000 OR MORE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS