Full text of U.S. Financial Data : Week Ending: September 21, 1977

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

_I7.£T.

1=1 MAhJa AXL MDATAX
Week ending: September 21, 1977

The prime bank loan rate was increased from 7 percent to 7.25
percent by most large banks this past week. 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.
Short-term interest rates have been rising sharply since April of
' iq75 t*1*s year» especially in May and August.
In contrast, long-term interest
' '
rates have, on balance, declined slightly since April of this year.
Consequently, the differentials between long-term and short-term rates have
narrowed since April. For instance, the yield on long-term Government
securities averaged 2.96 percentage points above that on 3—month Treasury
bills in April, and that differential declined to 1.67 percentage points in
the first three weeks of this month. For the same periods, the average
differential between the corporate bond rate and the prime commercial paper
rate (4-6 month) narrowed from 3.17 percentage points to 1.79 percentage
points.

UBRy

DEC 2

YIELDS ON SELECTED SECURITIES
(Monthly Averages of Daily Rates)
July
1976

December
1976

April
1977

May
1977

August
1977

September
1977 *

Short-term Securities
Federal Funds

5.31%

4.65%

4.73%

5.35%

5.90%

6.04%

Prime Commercial Paper
(4-6 Month)

5.67

4.70

4.87

5.35

5.84

6.11

Prime Bankers' Acceptances

5.50

4.62

4.78

5.34

5.88

6.09

3-Month Treasury Bills

5.23

4.35

4.54

4.96

5.49

5.76

1-Year Treasury Bills

5.82

4.64

5.10

5.43

5.97

6.08

Intermediate-Term Securities
3-5 Year Government
Securities
7.24

5.96

6.58

6.76

6.90

6.90

Long-Term Securities
Corporate Aaa Bonds

8.56

7.98

8.04

8.05

7.98

7.90

Long-Term Government
Securities **

7.82

7.20

7.50

7.57

7.50

7.43

Municipal Bonds ***

6.78

5.94

5.75

5.75

5.62

5.51

* Averages of rates available through September 21, 1977.
** Issues due or callable in ten years or more, excluding issues that have
special Federal estate tax privileges.
*** Thursday data.


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

Prepared by Federal Reserve Bank of St. Louis
Released: September 23, 1977

MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
132

BILLIONS
AUG

130

126.4

126.3
126.8

126.5

128

127.5
127.5

126

124
122

120
118
116
114
112

7 21

1

15 29 13 27

10 2*

8 22

5 19

2 16

JAN

FEB

2 16 30 13 27 11

25

8 22

6 20

3 17 31

14 28

1977

1976
LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 21. 1977

THE MONETARY BASE CONSISTS OF MEMBER BANK RESERVES AT THE FEDERAL RESERVE BANKS AND CURRENCY
IN CIRCULATION (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 MONETARY BASE IS AVAILABLE FROM THE FEDERAL RESERVE BANK OF ST. LOUIS.

MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
9/22/76

12/22/76

2/23/77

3/23/77

4/20/77

5/18/77

6/22/77

7.2
7.7
8.4
8.4
7.8
8. 1
8.6
8.6

7.2
8.7
8.5
7.7
8. 1
8.8
8.8

11.9
10.5
8.6
9. 1
9.9
9.7

10.6
8. 1
8.8
9.8
9.6

5.8
7.4
9.0
8.9

7.2
9.3
9.2

12.2
11.1

7/20/77

TO THE AVERAGE
OF FOUR WEEKS
ENDING:

2


2/23/77
3/23/77
4/20/77
5/18/77
6/22/77
7/20/77
8/24/77
9/21/77

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

11.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MULTIPLIER^
ADJUSTED FEDERAL RESERVE CREDIT v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
3.0

RATIO
3.0

2.9

2.9

2.8

2.8

MULTI PLIER
2.7

2.7

2.6

2.6

2.5

2.5

1377

2.4

10
17
24
31
SEP .
7
14

BAT 1C
2.597
2.591
2.592
2.606
2.606
2.601

MillLl.jj.1i

i i i

AUG .
2.3

i

11 -LULL -LLJ JJ_L 1 1 1 1 JJ-1 _LL1

1111

1 1 1

1 1 1

1

2.4

2.3

i i l

LATEST DATA PLOTTED WEEK END INGs SEPTEMBER 14, 1977
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
112

COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING
SEPTEMBER 21, 1977 FROM

110

108
JUL.
JUN.
-- MAY
APR.
MAR.
-- DEC.

20
22
18
20
23
22

1977

11.4

ADJUSTED FEDERAL RESERVE CREDIT
106

1977
1976
1976

10.8
104

102
100
iaZI

98

BILLIONS
107.1

96
H
7 21

4 ie

1

15 29 13 27

10 24

8 22

5 19

2 16

JAN

FEB

2 16 30 13 27 11

APR

1976

25

8 22

6 20

3 17 31

94

14 28

MAY
1977

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 21, 1977
1/ RATIO OF MONEY STOCK (Ml) / MONETARY BASE.
2/ FEDERAL RESERVE CREDIT CONSISTS OF FEDERAL RESERVE HOLDINGS OF SECURITIES

LOANS FLOAT
AND OTHER ASSETS. ADJUSTED FEDERAL RESERVE CREDIT IS COMPUTED BY SUBTRACtING TREASURY
DEPOSiTS AT FEDERAL RESERVE BANKS FROM THIS SERIES. AND ADJUSTING THE SERIES FORRESERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE §AME TYPE OF DEPOSITS BETWEEN BANKS
WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY. DATA ARE COMPUTED BY THIS BANK?


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
795

BILLIONS
786. 0
786.8
787.2
791.2
793.9
770
765
760
755
750
745
740
735
730
725
720
715
710
705
700
7 21

4 18

1

15 29 13 27

10 24

5 19

2

JAN

FEB

16

2 16 30 13 27

1976

11

25

6 20

3 17 31

14 26

1977

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 14, 1977
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:
9/15/76

12/15/76

2/16/77

3/16/77

4/13/77

5/11/77

6/15/77

7/13/77

12.0
11.5
11.6
11.3
10.7
10.9
11.1
10.8

9.9
10.4
10.2
9.5
10.0
10.4
10. 1

10.4
10.0
9.0
9.7
10.3
9.9

10.7
9.2
10.0
10.7
10.2

7.8
9.3
10.3
9.8

9. 4
10.6
9. 9

12.8
11.1

10.5

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/16/77
3/16/77
4/13/77
5/11/77
6/15/77
7/13/77
8/17/77
9/14/77

4


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

BILLIONS
327.2
327.5
327.4
330.5
329.6
331.6

7 21

4 18

JUL

AUG

1

15 29 13 27 10 24

8 22

5 19

2 16

JAN

FEB

2 16 30 13 27

1976

11

25

8 22

6 20

3 17 31

14 28

1977

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 14, 1977
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
THE MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AND COIN HELD BY THE NONBANK PUBLIC.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
9/15/76

12/15/76

2/16/77

3/16/77

4/13/77

5/11/77

6/15/77

7/13/77

8. 1
10.0
7.5
8. 1
9.2
9. 1

13. 1
8.5
9.0
10. 1
9.8

6.9
8.0
9.7
9.4

5.5
8.5
8.4

12.5
11.1

11.4

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/16/77
3/16/77
4/13/77
5/11/77
6/15/77
7/13/77
8/17/77
9/14/77


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

5.4
5.2
6. 1
7.0
6.3
6.7
7.4
7.5

5.7
7.2
8.4
7. 1
7.5
8.4
8.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT
10.0

9.5

9.0
CORPORATE Aaa BONDS

8.5

8.0

7.5

7.0

6.5

PRIME BANK
LOAN RATE

6.0
COMMERCIAL PAPER

5.5

5.0

4.5

4.0

2

16 30 13 27

10 24

8 22

5 19

3 tT 31

14 28

JAN

11

25 11

25

8 22

6 20

3

17

1

IS 29 12 26

9 23

FEB

1976

1977

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: SEPTEMBER 23, 1977

90 DAY
CD'S HeiBK

1977
JULY

1
8

15
22
29
AUG.
5
12
19
26
SEP.
2
9
16
23 *
30

6

5.40
5.40
5.45
5.45
5.43
5.65
5.76
5.97
6.01
5.98
5.97
6.10

6.22

PRIME
COMMERCIAL
PAPER
4-6 MONTH

PRIME
BANKERS’
ACCEPTANCES

5.44
5.43
5. 41
5.40
5.42
5.61
5.75
5.95
5.95
6.00
5.99
6.19
6.22

5.35
5.38
5.41
5.44
5.49
5.70
5.83
6.02
5.95
5.93
5.98
6.19
6. 19

CORPORATE
BONDS

MUN1C1 PAL
BONDS

7.91
7.93
7.94
7.94
7.96
8.00
8.00
7.99
7.96
7.92
7.90
7.89
7.91

5.61
5.63
5.64
5.62
5.62
5.63
5.63
5.63
5.58
5.54
5.48
5.51
N. A.

Aaa

* AVERAGES OF RATES AVAILABLE.
5BK BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
3t0BK SEVEN-DAY AVERAGES OF SECONDARY iARKET 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

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

8.0

7.5

3-5 YEAR
TREASURY SECURITIES
7.0

6.5

6.0

DISCOUNT RATE
5.5
\

FEDERAL FUNDS RATE
5.0

4.5

THREE-MONTH TREASURY
BILL MARKET YIELD

4.0

Z

16 30 13 27

10 24

8 22

5 19

3 17 31

14 28 11

25 1!

25

8 22

fi 20

5 17

1

15 29 12 26

9 23

1976
LATEST DATA PLOTTED ARE AVERAGES OF RAU..1 AVAILABLE FOR THE WEEK ENDING:

1977
JULY

1
8
15
22
29
AUG.
5
12
19
26
SEP.
2
9
16
23 *
30

FEDERAL
FUNDS **

3- MONTH
TREASURY
BILLS

1-YEAR
rREASUITv
BILL

5.43
5.35
5.34
5.36
5.45
5.80
5.70
5.94
5.99
6.02
5.97
6.05
6.10

4.97
5. 12
5.16
5.21
5.27
5.35
5. 47
5.56
5. S3
5.56
5.65
5.86
5.87

5.39
5. 46
S.S1
5.60
5.70
5.83
5.94
6.07

6.02
5. 98
6.04
6. 14

6. 10

SEPTEMBER 23,

3-5 YEAR
TREASURY

SECUR11 IES
6. 49
6.60
6.62
6.69
6.77

6.86
6.90
6.97
6.89
6.84

6.86
6.93
6.92

1977

LONG-TERM
TREASURY
SECUR 1T 1 ES

7.38
7.43
7.43
7.46
7.49
7.53
7.54
7.52
7.45
7.40
7.41
7.45
7.45

* AVERAGES OF RATES AVAILABLE.

** Sn?AJaKE^F?S

§"LFASeIEB THA“ DA,E SH™N-

TREaIuRY B?LL'yflTDro“DISCOUNT',BASll.A"t '0"PUTEDB' 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
470 rr--- 1----- 1----

BILLIONS OF DOLLARS
-- ------ ----=1 470

BILLIONS
458.8
459.3
459.8
460.8
461.7
462.4

7 21

JUL

4 18

1

15 29 13 27

10 24

8 22

AUG

5 19

2 16

JAN

FEB

2 16 30 13 27 11

25

8 22

6 20

3 17 31

14 28

1977

1976
LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 14, 1977
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.

X NET TIME DEPOSITS ARE DEFINED AS: SAVINGS DEPOSITS, TIME DEPOSITS OPEN ACCOUNT PLUS TIME
CERTIFICATES OF DEPOSIT OTHER THAN NEGOTIABLE TIME dERTIFI CATES 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:
9/15/76 12/15/76 2/16/77 3/16/77 4/13/77 5/11/77 6/15/77 7/13/77
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/16/77
3/16/77
4/13/77
5/11/77
6/15/77
7/13/77
8/17/77
9/14/77

8


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

17. 1
16.2
15.8
14.5
14. 1
14.0
13.8
13.3

13.0
13.0
11.5
11.4
1 1.7
11.7
11.3

12.2
9.9
10.2
10.9
11.1
10.6

9. 1
9.8
10.8
11.0
10.5

8.5
10. 1
10.6
10.0

12.3
121
11.1

12.7
11.1

9.9

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
250

BILLIONS
241.8
242. 1
245
243.4
245.4

240

235

230

225

7 21

4

18

1

15 29 13 27

10 24

8 22

5 19

2 16

JAN

FEB

2

16 30 13 27 11

1976

25

8 22

6 20

3 17 31

14 28

1977

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 14,

1977

CURRENT DATA APPEAR

H.6 RELEASE.

IN THE BOARD OF GOVERNORS*

DEMAND DEPOSIT COMPONENT OF MONEY STOCK
COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING:
9/15/76 12/15/76 2/16/77 3/16/77 4/13/77 5/11/77 6/15/77 7/13/77
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/16/77
3/16/77
4/13/77
5/11/77
6/15/77
7/13/77
8/17/77
9/14/77


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

4.4
4. 2
5.3
6.4
5.6
6.0
7.0
7.0

4.6
6.5
8.2
6.5
7.0
8.2
8. 1

7.8
10.3
7.2
7.6
9.2
8.9

14.2
8.5
8.8
10.4
9.9

6.6
7.5
9.8
9.3

4.2
8.2
8.0

13.1
11.2

11.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

CURRENCY COMPONENT
OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
90

BILLIONS
85.4
85.4
85.6
85.8

88

86.2
86

84

82

80

78

76

7 21

4 18

1

15 29 13 27

10 24

8 22

5 19

2

JAN

FEB

16

2 16 30 13 27 11

8 22

6 20

3 17 31

14 28

1977

1976
LATEST DATA PLOTTED WEEK ENDING:
CURRENT DATA APPEAR

25

SEPTEMBER 14,

IN THE BOARD OF GOVERNORS’

1977
H.6 RELEASE.

CURRENCY
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
9/15/76

12/15/76

2/16/77

3/16/77

4/13/77

5/11/77

6/15/77

7/13/77

8.3
8.3
8.5
8.7
8.5
9.0
9.0
8.9

8.7
9.0
9.2
8.9
9.5
9.4
9.2

9. 1
9.3
8.9
9.7
9.5
9.3

9.9
9. 1
10.0
9.8
9.5

8.7
10.0
9.7
9.4

10. 1
9.7
9.3

10.8
9.9

8.5

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/16/77
3/16/77
4/13/77
5/11/77
6/15/77
7/13/77
8/17/77
9/14/77

10

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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
ALL MEMBER BANKS
BILLIONS OF DOLLARS
2.5 -----,-----1----

IN THE NATION

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
-- ------ ----- 2.5

MILLIONS

AUG. 17
1665
SEP.

7

4 18

1

15 29 13 27

10 24

8 22

5 19

2 16

JAN

FEB

2 16 30 13 27

APR

1976

11

25

8 22

6 20

3 17 31

14 28

MAY
1977

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 21, 1977

BUSINESS LOANS
BILLIONS OF DOLLARS
124 ---------- ----

( COMMERCIAL AND INDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
-- ------ ----- 124

_ COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
— THE FOUR WEEKS ENDING
- SEPTEMBER 14, 1977 FROM
— THE FOUR WEEKS ENDING:

MILLIONS
AUG. 10

-MAY

11

1977

II I I I I
8 22

5 19

2 16

JAN

FEB

2 16 30 13 27 11

25

8 22

6 20

i—L. J I I 14

3 17 31

28

1977
latest data plotted week ending:


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

September 14, 1977
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

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

CERTIFICATES OF DEPOSIT
LARGE COMMERCIAL BANKS
WEDNESDAY FIGURES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
80 ------ ------ ------

BILLIONS OF DOLLARS

-- T---- 1--- 80
BILLIONS
AUG.
64. 4
64. 7
65.0
64.9
64.8

I I I I I I 1
7 21

JUL

4 18

I

15 29 13 27 10 24

AUG

OCT

NOV

LATEST DATA PLOTTED WEEK ENDING:
CURRENT DATA APPEAR

8 22

5

19

JAN

2

16

2

APR

FEB

SEPTEMBER 14,

IN THE BOARD OF GOVERNORS'

18 30 13 27

11

25

8 22

6 20

3 17 31

14 28

MAY

1977
H.6 RELEASE.

hEGOT I ABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 9100,000 OR MORE BY LARGE
WEEKLY REPORTING COMMERCIAL BAM<S.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS