Full text of U.S. Financial Data : Week Ending: October 9, 1974
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Week ending: October 9r 1974 LIBRARY JUN 0 8 1979 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis In recent months the monetary base has continued to grow, although at a considerably reduced rate compared to previous periods. For example, the base has risen at about a 6 percent rate over the last four months compared to about a 10 percent rate over the period from early October of last year to early May of this year. In recent weeks the amount of business loans at large commercial banks has stabilized at a very high level following the rapid growth from December to early September. As the monetary base has continued to grow and the amount of business loans has leveled off, banks have become less aggressive in bidding for large certificates of deposits. Consequently, the market rate on 90-day CDs has fallen from about 12.5 percent to about 10.28 percent recently. Also the outstanding volume of large CDs has increased much more slowly in the last month, compared to its very rapid increase from late March to late August. The slackening in the growth of demand for business loans and the continued growth of the monetary base has resulted in a reduction in the prime bank loan rate from 12 percent to 11.75 percent at most large commercial banks. Other short-term interest rates have also continued to decline in the last week. The yield on prime 4-6 month commercial paper averaged 9.88 percent recently, compared to 11.63 percent one month ago. Although rates on 3-raonth Treasury bills nave risen somewhat in the past week, they still remain over 200 basis points below their average yields of a month ago. Prepared by Federal Reserve Bank of St. Louis Released. October 77, 1974 MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS 112 r------------ i----------- 1----- BILLIONS OF DOLLARS ---- -------- ---------- MILLIONS 1 15 28 12 26 10 24 7 21 NOV 5 18 DEC 2 15 30 15 27 13 27 FEB MAR APR LATEST DATA PLOTTED WEEK END I NIG ■ OCTOBER 9, • COMPOUNDED ANNUAL RATES OF CHANGE, TO THE AVERAGE OF FOUR WEEKS ENDINGi 3/ 8/74 4/10/74 5/ 8/74 6/12/74 7/10/74 8/ 7/74 9/11/74 10/ 9/74 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1/9/74 3/6/74 4/10/74 DEP0S1TS- 5/8/74 8 25 PUBLIC AND N0M4EMBER F0R A DESCRIPTION 6/12/74 7/10/74 :1 9.1 8.3 7.6 7. 1 7.0 6. 1 5.9 5.7 5.8 8/7/74 •' i * .. 11.3 9.2 8.6 8. 1 7.5 7.4 14 28 11 23 AUG SEP AVERAGE OF FOUR WEEKS ENDINGi ■ 7.6 8.9 8.2 7.9 7.6 7.3 7.2 5 17 51 held by the ' •' j - 9.0 9.1 9.7 9. 1 8.8 8.5 8.2 8.0 5 18 1974 BANK reserves and currency BASESSEE THE AUGUST•REVIEW^^H^BAWr8 10/10/73 22 6.0 5.8 5.9 i -• ■ i ’ 5.4 5.6 5.7 PREPARED BY FEDERAL RESERVE BANK OF ST. LOU IS 112 MULTIPLIER^ FEDERAL RESERVE CRED I T 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO RATIO MULTIPLIER ■LSI-1 sep: BAH Q 2§ I ii. 1111 LATEST DATA PLOTTED WEEK EHJINGi OCTOBER 2, 1974 BILLIONS OF DOLLARS iOQ--------------,---------- t------ BILLIONS OF DOLLARS ---- -------- ---------- 100 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING OCTOBER 9, 1974 FROM THE FOUR WEEKS ENDINGi AUG. JUL. JUN. MAY APR. JAN. OCT. 7, 10, 12, 8, 10, 9, 30, 1974 1974 1974 1974 3974 1974 1973 12.8 10.0 10.1 11.5 11.9 9.6 9.9 FEDERAL RESERVE CREDIT iaZl 1 IS AUG 29 1Z 29 10 24 7 21 5 19 2 16 30 13 27 13 27 10 SEP DEC JAN OCT NOV FEB MAR APR 24 8 22 3 19 3 17 31 MILLIONS 14 26 11 AUG 23 9 23 SEP 1973 LATEST DATA PLOTTED WEEK ENDINGi OCTOBER 9, 1974 1/ RATIO OF MONEY STOCK (Ml) / MONETARY BASE. 2/ T0 INCLUDE HOLDINGS OF SECURITIES. LOANS. FLOAT AND •'OTHER" classes oPbanksP" dataware-*seasonally aSju1tedA8vEthisDban<? shifts http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis A<y?PT<5 An ilicTrn cno in dep6sits PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 DEMAND DEPOSIT COMPONENT OF MONEY STOCK billions of AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED dollars billions of dollars 225 r 214.2 215.2 214.6 214.8 214.0 214.9 1 13 29 12 28 10 24 7 21 3 19 NOV DEC 2 10 30 13 27 13 27 10 24 8 22 3 19 3 17 31 M 26 11 25 AUG LATEST DATA PLOTTED WEEK ENDINGi OCTOBER 2, 0 23 SEP 1974 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS END 1NG> 10/3/73 1/2/74 2/27/74 4/3/74 5/1/74 6/5/74 5.9 6.3 6.2 6.2 6.3 5.5 5.1 4.4 3.5 3.8 4.4 4.8 3.9 3.6 2.9 6.8 6.7 6.7 5.1 4.4 3.5 5.9 6.2 4.2 3.6 2.6 6.7 4.0 3.3 2. 1 2.5 2.1 0.9 7/3/74 7/31/74 TO THE AVERAGE OF FOUR WEEKS END 1NGi 2/27/74 4/ 3/74 5/ 1/74 6/ 5/74 7/ 3/74 7/31/74 9/ 4/74 10/ 2/74 4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0.0 -0.9 -0.5 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS DOLLARS of BILLIONS 279.8 280.9 280.6 _ OCT 280.8 280.0 280.8 6.77. TREND LINE FROM 1ST QUARTER '70 TO 2ND QUARTER '74 1 15 29 12 26 10 24 7 21 NOV 5 19 2 16 30 13 27 DEC FEB LATEST DATA PLOTTED WEEK ENDING. OCTOBER 2, 13 27 10 24 MAR 8 22 5 10 3 17 31 APR 14 28 11 AUG 25 9 23 SEP 1974 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDINGi 10/3/73 1/2/74 2/27/74 4/3/74 5/1/74 0/5/74 7/3/74 7/31/74 7.0 7.4 7.4 7.2 7.2 6.5 6.2 5.6 5.1 5.6 5.8 6.0 5.1 5.0 4.3 8.1 7.5 7.5 5.9 5.6 4.7 6.9 7.0 5.1 4.9 4.0 6.9 4.4 4.3 3.4 3. 1 3.5 2.4 1.9 1.0 1.9 TO THE AVERAGE OF FOUR WEEKS ENDING. 2/27/74 4/ 3/74 5/ 1/74 6/ 5/74 7/ 3/74 7/31/74 9/ 4/74 10/ 2/74 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT 13.5 13.0 90 DAY CD 12.5 12.0 11.5 11.0 10.5 COMMERCIAL PAPER RIME BANK OAN RATE 10.0 9.5 9.0 8.5 CORPORATE Aaa BONDS 8.0 7.5 7.0 6.5 6.0 5.5 5.0 MUNICIPAL BONDSMW 4.5 3 17 31 14 26 12 23 9 23 7 21 DEC « 4 1 JAN 0 1 15 FEB 1 15 29 12 26 10 24 1973 7 21 JUN 5 19 JUL 2 10 30 13 27 1974 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. OCTOBER 11, 1974 AUG. SEP. OCT. 2 9 16 23 30 6 13 20 27 4 11 X 18 25 11 25 90 DAY CD'S MOW PRIME COMMERCIAL PAPER 4-6 MONTH 11.99 12.05 12.11 12.24 12.48 12.30 12.00 11.89 11.16 10.87 10.28 11.23 11.48 11.63 11.80 11.85 1 1.72 11.63 11.25 10.58 10.18 9.88 PRIME BANKERS' ACCEPTANCES 12.00 12.00 12.08 12.16 12. 10 11.79 11.46 10.95 10.36 9,79 9.55 1974 CORPORATE Aaa BONDS MUNICIPAL BONDS MW 8.86 8.93 8.98 9.03 9.08 9.13 9.20 9.29 9.32 9.37 9.40 6.70 6.58 6.6! 6.73 6.91 6.88 6.79 6.76 6.62 6.68 N. A. * AVERAGES OF RATES AVAILABLE. MW BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS. THURSDAY DATA. MOW SEVEN-DAY AVERAGES OF SECONDARY MARKET RATES FOR THE WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATES SHOWN. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. 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 M.O 13.5 13.0 12.5 12.0 11.5 11.0 10.5 FEDERAL FUNDS RATE 10.0 9.5 9.0 8.5 THREE-MONTH TREASURY BILL MARKET YIELD 8.0 7.5 DISCOUNT RATE 7.0 6.5 3 17 31 14 28 SEP 12 26 9 23 OCT 7 21 DEC 4 18 JAN 1 13 1 IS 29 12 26 10 2 5 19 2 16 30 13 27 11 23 FEB SEP 0 OCT 1973 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi OCTOBER 11, 1974 AUG. SEP. OCT. 2 9 16 23 30 6 13 20 27 4 11 X 18 25 FEDERAL FUNDS xx 3-MONTH TREASURY BILLS 3-5 YEAR GOVERNMENT SECURITIES LONG-TERM GOVERNMENT SECURITIES 12.29 12.09 12.02 12.23 11.84 11.64 11.48 11.41 11.12 11.04 10.43 7.84 8.75 8.75 9.29 9.37 9.34 9.10 7.64 6.81 6.64 6.92 8.55 8.59 8.58 8.69 8.69 8.61 8.52 8.35 8.14 8. 13 7.93 7.24 7.31 7.35 7.30 7.36 7.33 7.31 7.31 7.27 7.31 7.27 1974 * AVERAGES OF RATES AVAILABLE. mt SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS 1 H.9 RELEASE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 7 TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS TOTAL TIME DEPOSITS NET TIME DEPOSITS* 1 15 29 12 26 10 24 7 21 NOV S 18 2 16 SO 13 27 DEC FEB 13 27 10 24 8 22 3 19 3 17 31 MAR 14 28 11 23 AUG SEP 9 23 1974 1973 LATEST DATA PLOTTED WEEK ENDING. OCTOBER 2, 1974 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 CERT IFI CATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME 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, 10/3/73 1/2/74 AVERAGE OF FOUR WEEKS ENDING. 2/27/74 4/3/74 3/1/74 7.3 7.2 8.4 8.7 8.7 8.0 7.5 9. 1 9.4 9.2 8.2 9.4 9.7 9.4 8.2 6/5/74 7/3/74 7/31/74 9.5 7.4 6.1 TO THE AVERAGE OF FOUR WEEKS ENDING. 2/27/74 4/ 3/74 5/ 1/74 6/ 3/74 7/ 3/74 7/31/74 9/ 4/74 10/ 2/74 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 14.5 12.9 12.3 11.5 1 1.6 11.5 11.2 10.6 12.4 11.4 10.3 10.7 10.6 10.4 9.6 11.5 10.5 8.6 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK PLUS TIME DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BSLLiONS OF DOLLARS BILLIONS OF DOLLARS MONEY STOCK PLUS TOTAL TIME DEPOSITS MONEY STOCK PLUS NET TIME DEPOSITS **■ 1 15 29 12 2« tO 24 7 21 3 19 NOV DEC 2 16 30 13 27 FEB LATEST DATA PLOTTED WEEK ENDING. OCTOBER 2, 13 27 10 MAR 6 22 5 19 3 17 31 M 26 II 23 AUG APR 9 23 SEP 1974 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. 3BK M2 IS DEFINED AS. CURRENCY, DEMAND DEPOSITS PLUS NET TIME DEPOSITS (SEE PAGE 8). MONEY STOCK PLUS NET TIME DEPOSITS 1 M2 > COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGs 10/3/73 1/2/74 2/27/74 4/3/74 5/1/74 8/5/74 7/3/74 7/31/74 10.9 10.3 10.0 9.5 9.5 9.1 8.8 8.2 8.9 8.7 8.2 8.5 8.0 7.8 7.1 7.8 7.3 8.0 7.3 7.2 6.4 7.2 8. 1 7.3 7. 1 6.2 8. 1 7.0 6.9 5.8 7.4 7.1 5.6 5.7 4.3 4. 1 TO THE AVERAGE OF FOUR WEEKS ENDING. 2/27/74 4/ 3/74 5/ 1/74 8/ 5/74 7/ 3/74 7/31/74 9/ 4/74 10/ 2/74 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS *' #~r -• •-’^'CeRINP*CATES?'OF DEPOSIT LARGE COMMERCIAL BANKS - BILLIONS Of DOLLARS 92 T-- ---- 90 WEDNESDAY FIGURES NOT SEASONALLY ADJUSTED 1 1 1—----| 92 — ... 90 - 88 86 88 - f - 80 78 ~ - ----- — 84 — _L_ 32 - — 80 - / 76 72 70 88 - j _ / - / 74 72 __ 70 — 68 - 64 B 0 AUG SEP OCT 1973 1 1 1 l l 1 JJ_LL 1 I 1 1 1 1 111 _LL11 JJJ JJJJ _i_LL J_LL JIM T NOV DEC MAR APR JAN FEB LATEST DATA PLOTTED WEEK ENDING. OCTOBER 2. MAY JUN 1974 JUL AUG SEP OCT 1974 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. donations of *100.000 BILLIONS CERTIFICATES NET TIME OF DEPOSIT DEPOSITS* ms SIekly^orti^CcomIcrciAPaANKsf °S!T ,SSUED ,N 1974 AUG. 7 14 21 28 SEP. 4 1 1 18 25 OCT. 2 9 16 23 30 CERTIFICATES OF DEPOSIT NOT SfcAS. ADJ. 86.0 86.9 87.8 88.4 88. 4 88.9 88. 1 89. 1 89.6 84.9 84.7 84.6 84.3 85.0 85.9 85.8 86.5 86.5 320.5 321.5 321.3 322.0 322.2 322. 1 322.5 322.2 323.3 or more by large m 501.5 602.7 602. 4 60! .8 603. 1 002.7 603.2 602.1 604.1 i SEE FOOTNOTE PAGE 8 SEE FOOTNOTE PAGE 9 PREPARED BY FEDERAL RESERVE BANK OF ST. 10 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 76 - 66 Jill. _LLL -Mil 78 - ) T 1 ~ - - / ... 74 86 i | 84 82 — CIS 66 64 0 ■! .1 p ■:; i;.H 0 rj BORROW INGS FROM FEDERAL RESERVE BANKS - ........ ' 'ALL MEMBER BANKS 1371 IN THE NAT I ON AVERAGES OF DA I LY F I 6URES BILLIONS OF DOLLARS BILLIONS OF DOLLARS 4.5 MILLIONS AUG. 28 SEP. 4 11 18 25 OCT. 2 4.0 3533 3906 3085 2921 3531 3218 2245 3.5 3.0 2.5 2.0 BORROWINGS 1.5 1.0 1 13 28 12 26 10 24 7 21 5 19 NOV DEC 2 16 30 13 27 FEB LATEST DATA PLOTTED WEEK ENDINGi OCTOBER 9. 13 27 10 24 • 22 3 19 3 17 31 MAR 14 28 11 23 AUG 9 23 0.5 SEP 1974 BUSINESS LOANS ( COMMERCIAL AND INDUSTRIAL ) BILLIONS OF DOLLARS 134 --------------.----------- .----— — — _ WEEKLY REPORTING LARGE COMMERCIAL BANKS SEASONALLY ADJUSTED BILLIONS OF DOLLARS ----------------- -------------- 134 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING OCTOBER 2, 1974 FROM THE FOUR WEEKS ENDING. 13.0 21.5 20.8 _ MAY 19.2 24.5 24.6 18.8 ' BUSINESS LOANS AUG. 21 | | OCT. 1 13 29 12 26 10 24 7 21 3 19 NOV DEC 2 16 30 13 27 13 27 10 24 FEB MAR OCTOBER 2, 1974 6 22 3 19 3 17 31 128,490 14 26 11 25 9 23 APR 1974 LATEST DATA PLOTTED WEEK ENDING. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 FEDERAL RESERVE BANK OF ST. LOUIS P. O. BOX 442 ST. LOUIS. MISSOURI 63166 FIRST CLASS MAIL U. S. POSTAGE PAID RETURN POSTAGE GUARANTEED PERMIT FIRST CLASS (HAIL MEMBER BANK DEPOSITS SUBJECT TO RESERVE REQUIREMENTS (CREDIT PROXY ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 505 - COMPOUNDED ANNUAL RATES OF CHANGE, r AVERAGE OF THE FOUR WEEKS ENDING - OCTOBER 2, 1974 FROM THE FOUR - WEEKS EICINGi CREDIT CREDIT PROXY = proxy Aeuusra. 495 = JUL CREDIT PROXY ADJUSTED 485 1/ APR 475 10.0 465 455 CREDIT ■PROXY CREDIT PROXY ADJUSTED. 445 CREDIT PROXY ~ 489.2 435 479.9 1 13 29 12 26 10 24 7 21 3 NOV DEC 19 2 16 30 13 27 13 27 10 24 • 22 1/ 12 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 19 3 IT 31 14 26 AUG 1973 11 23 9 23 SEP 1974 LATEST DATA PLOTTED WEEK ENOINGi OCTOBER 2, CURRENT DATA APPEAR 3 1974 IN THE BOARD OF GOVERNORS’ H.9 RELEASE. INCLUDES MEMBER BANK DEPOSITS, BATK-RELATED COMMERCIAL PAPER, EURODOLLAR BORROWINGS OF U.S. BANKS, AND CERTAIN OTHER NONDEPOSIT SOURCES. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
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