u.s. financial data: week ending: october 13, 1976 · 13/10/1976  · latest data plotted week...

12
F//V>»/VC/>1JL a XX Week ending: October 13, 1976 Although business loans at large commercial banks (paj»e 11) have declined, on average, by 6.1 percent from a year ago, most of the decline came in the first half of 1976. In fact, over the last two months business loans have increased at a A.2 percent annual rate. From a high of $131 billion in early December 1974, business loans at large banks declined to about $120 billion in December 1975. By August 1976 business loans had decreased even further to $110 billion. However, since early August they have returned to levels comparable to those in late June 1976. Although business loans have declined, on balance, over the last year, total loans at all commercial banks (excluding domestic commercial interbank loans) have increased by 3.8 percent. Since March, total loans have increased at a slightly higher 4.3 percent rate, and over the last two months they have increased at an even more rapid 8.4 percent rate. With the Federal funds rate averaging 22 basis points lower than the discount rate over the third quarter, member bank borrowings from Federal Reserve Banks have averaged $98 million. This is higher than the $71 million average for the first quarter of 1976 when the Federal funds rate was 77 basis points lower than the discount rate. Member banks can cover short-term reserve deficiencies by borrowing either from the Federal Reserve Banks or from other commercial banks. The discount rate, which has been 5.50 percent since mid-January 1976, is set by the Board o Directors of each Federal Reserve Bank, subject to approval by the Board of Governors of the Federal Reserve System. An alternative to borrowing from a Federal Reserve Bank is to borrow Federal funds (balances of other commercial banks on deposit at Federal Reserve Banks) from other banks. Loans of Federal funds are made at the market-determined Federal funds rate, which has averaged 5.17 percent in the current week. On a seasonally adjusted basis, large certificates of deposit at large commercial banks are currently about $9 billion below their level at the end of June 1976. On the other hand, net time deposits (which exclude large CDs) have continued to grow rapidly during 1976. Since the end of June, net time deposits have increased by about $17 billion, which represents a 16.8 percent annual rate of growth. Prepared by Federal Reserve Bank of St. Louis Released: October 15, 1976 Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis

Upload: others

Post on 05-Aug-2020

1 views

Category:

Documents


0 download

TRANSCRIPT

Page 1: U.S. Financial Data: Week Ending: October 13, 1976 · 13/10/1976  · latest data plotted week ending. october 6, 1976 billions op dollars billions op dollars iis compounded annual

F//V>»/VC/>1JL a XX

Week ending: October 13, 1976

Although business loans at large commercial banks (paj»e 11) have declined, on average, by 6.1 percent from a year ago, most of the decline came in the first half of 1976. In fact, over the last two months business loans have increased at a A.2 percent annual rate. From a high of $131 billion in early December 1974, business loans at large banks declined to about $120 billion in December 1975. By August 1976 business loans had decreased even further to $110 billion. However, since early August they have returned to levels comparable to those in late June 1976.

Although business loans have declined, on balance, over the last year, total loans at all commercial banks (excluding domestic commercial interbank loans) have increased by 3.8 percent. Since March, total loans have increased at a slightly higher 4.3 percent rate, and over the last two months they have increased at an even more rapid 8.4 percent rate.

With the Federal funds rate averaging 22 basis points lower than the discount rate over the third quarter, member bank borrowings from Federal Reserve Banks have averaged $98 million. This is higher than the $71 million average for the first quarter of 1976 when the Federal funds rate was 77 basis points lower than the discount rate. Member banks can cover short-term reserve deficiencies by borrowing either from the Federal Reserve Banks or from other commercial banks. The discount rate, which has been 5.50 percent since mid-January 1976, is set by the Board o Directors of each Federal Reserve Bank, subject to approval by the Board of Governors of the Federal Reserve System. An alternative to borrowing from a Federal Reserve Bank is to borrow Federal funds (balances of other commercial banks on deposit at Federal Reserve Banks) from other banks. Loans of Federal funds are made at the market-determined Federal funds rate, which has averaged 5.17 percent in the current week.

On a seasonally adjusted basis, large certificates of deposit at large commercial banks are currently about $9 billion below their level at the end of June 1976. On the other hand, net time deposits (which exclude large CDs) have continued to grow rapidly during 1976. Since the end of June, net time deposits have increased by about $17 billion, which represents a 16.8 percent annual rate of growth.

Prepared by Federal Reserve Bank of St. LouisReleased: October 15, 1976

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

Page 2: U.S. Financial Data: Week Ending: October 13, 1976 · 13/10/1976  · latest data plotted week ending. october 6, 1976 billions op dollars billions op dollars iis compounded annual

BILLIONS OF DOLLARS

MONETARY BASEAVERAGES OF DAILY FIGURESSEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS

130

MILLIONS

1 13 29 12 26 10 24 7 21 4 16 3 17 31 14 26 12 26 9 23 7 21 4 16 1 13 29 13 276 20 3 17JUL AUGAPR MAYAUG SEP

1976

128

126

124

122

120

118

LATEST DATA PLOTTED WEEK ENDINGi OCTOBER 13, 1976THE MONETARY BASE CONSISTS OF kEMBER BA*K RESERVES AT THE FEDERAL RESERVE BANKS AND CURRENCY IN CIRCULATION CCURRENCY HELD BY THE PUBLIC AND IN THE VAULTSOF COMMERCIAL BANKS), ADJUSTED FOR RESERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE SAME TYPE OF DEPOSITS BETWEEN BAMCS WHERE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY. THE MAJOR SOURCES OF THE MONETARY BASE ARE FEDERAL RESERVE CREDIT AND THE GOLD STOCK. DATA ARE COkTUTED BY THIS BANK. A DETAILED DE­SCRIPTION OF THE SOURCES AND 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 ENDtNGt

10/15/75 1/14/76 3/10/76 4/14/76 5/12/76 6/16/76 7/14/76 8/11/76

TO THE AVERAGE OF FOUR WEEKSEND 1NG»

3/10/76 8.04/14/76 7.5 8.65/12/76 8.0 9.2 7.96/16/76 8.1 9.2 8.3 10.07/14/76 7.4 7.9 6.7 7.2 5.68/11/76 7.1 7.4 6.2 6.4 5.0 2.69/15/76 7.4 7.8 6.9 7.3 6.4 5.4 7.3

6.810/13/76 7.4 7.7 6.9 7.2 6.5 5.8 7.2

2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

Page 3: U.S. Financial Data: Week Ending: October 13, 1976 · 13/10/1976  · latest data plotted week ending. october 6, 1976 billions op dollars billions op dollars iis compounded annual

RATIO

MULTIPLIERi/ADJUSTED FEDERAL RESERVE CRED I T 2/

AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO

MULTIPLIER

ISIflt RATIO

1 J I I I I 1 1

LATEST DATA PLOTTED WEEK ENDING. OCTOBER 6, 1976

BILLIONS OP DOLLARS BILLIONS OP DOLLARS IIS

COMPOUNDED ANNUAL RATES OF CHANCE. AVERAGE OF THE FOUR WEEKS ENDING OCTOBER 13. 1976 FROM THE FOUR WEEKS ENDINCi

AUG. 11, 1976 8.0JUL. 14, 1976 7.0JUN. 16, 1976 5.3MAY 12, 1976 6.1APR. 14, 1976 7.4JAN. 14, 1976 7.5OCT. 15. 1975 7.9

ADJUSTED FEDERAL RESERVE CREDIT

ISIS. MILLIONS -

1 1 I I M I I 1 I I I I I 1 I6 20 3 17 1 13 29 12 26 10 24 7 21 4 1« 3 17 31 14 23 12 26 9 23 7 21 4 16 1 13 26 13 27AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT

1975 1976

116

114

112

110

108

106

104

102

100

LATEST DATA PLOTTED WEEK ENDING. OCTOBER 13. 1976

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 SUBTRACtlNG TREASURY DEPOSITS AT FEDERAL RESERVE BANKS FROM THIS SERIES. AND ADJUSTING THE SERIES FOR^- SERVE REQUIREMENT RATIO CHANGES AND SHIFTS IN THE &AME TYPE OF DEPOSITS BETWEEN BANKS VWCRE DIFFERENT RESERVE REQUIREMENT RATIOS APPLY. DATA ARE COMPUTED 8Y THIS BANK^

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis

Page 4: U.S. Financial Data: Week Ending: October 13, 1976 · 13/10/1976  · latest data plotted week ending. october 6, 1976 billions op dollars billions op dollars iis compounded annual

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

SEASONALLY ADJUSTEDBILLIONS OF DOLLARS BILLIONS OF DOLLARS 730

197$ BILLIONS

715.6715.6

719.9719.7

705 —

14 26 tz 2* 9 23 7 21 4 1* 1 15 29 13 2741* 3 17* 20 3 17 1 15 29 12 2>i 10 24 7 21JUL AUGAPR MAYJAN FEBAUG SEP

1976

725

720

715

710

705

700

695

690

665

660

675

670

665

660

655

650

0

LATEST DATA PLOTTED WEEK ENDING* OCTOBER 6, 1976

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.

MONEY STOCK PLUS NET TIME DEPOSITS l M2)

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING.

10/8/75TO THE AVERAGE OF FOUR WEEKS ENDING.

1/7/76 3/3/76 4/7/76 5/5/76 6/9/76

3/ 3/76 10. 14/ 7/76 9.9 12.55/ 5/76 10.9 13.6 12.96/ 9/76 10.5 12.4 11.2 12.37/ 7/76 10.0 11.3 10.0 10.2 7.16/ 4/76 10.4 11.7 10.6 11.1 9.1 9.79/ 8/76 10.3 11.3 10.4 10.7 9.2 9.6

10/ 6/76 10.5 11.5 10.8 11,1 9.9 10.4

7/7/76 8/4/76

11.411.9 11.1

4 PREPARED BY FEDERAL RESERVE BANK OF ST. i_OU!SDigitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis

Page 5: U.S. Financial Data: Week Ending: October 13, 1976 · 13/10/1976  · latest data plotted week ending. october 6, 1976 billions op dollars billions op dollars iis compounded annual

BILLIONS OF DOLLARS 31S

MONEY STOCK ( Ml )AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED

310

305

300

205

290

BILLIONS OF DOLLARS 315~ i—i—

_ 1970 BILLIONS- SEP. 1 305.9- S 304.3

15 308.9

1 ITT

I OCzz29

T. 65U0S8i

.8

.8

.8

A AAI z

- rA- A-

-

A= V / V . , A/v -

i/ r - V

-

‘ill 1 i i 1 ii I 111 m i _LLL -LLI. JLLLL Ml I 1 1 . 1111 _LLL .1 i i 1.1 1 1 _LLL

3t0

305

300

2B0

AUG NOV DEC JAN FEB MAR AFR MAY JUN1978

JUL AUG OCT5F OCT 1975

LATEST DATA PLOTTED WEEK OOINB. OCTOBER S, 197B

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 THE MONEY STOCK CONSISTS OF DEMAND DEPOSITS PLUS CURRENCY AM) COIN tCLD BY THE NOWAMC PUBLIC.

MONEY STOCK (Ml)

COMPOUNDED ANNUAL RATES OF CHANCE , AVERAGE OF FOUR WEEKS ENDINGi10/8/75 1/7/76 3/3/76 A/7/79 5/5/76 6/8/76 7/7/79 9/A/T9

TO THE AVERAGE OF FOUR SEEKS END INCt

5/ 5/78 2.9A/ 7/79 3.5 4.85/ 5/76 5.6 6.3 12.39/ 9/79 5.3 7.2 9.1 10.77/ 7/79 4.5 5.6 6.4 6.5 0.69/ A/79 5.0 6.2 7.0 7.2 3.5 3.59/ 6/76 4.7 5.7 6.2 6.2 3.3 3.2 5.9

10/ 9/79 4.7 5.6 6.0 6.0 3.6 3.6 5.5 3.7

PREPARED BY FEDERAL RESERVE BAMC OF ST. LOUIS 5Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis

Page 6: U.S. Financial Data: Week Ending: October 13, 1976 · 13/10/1976  · latest data plotted week ending. october 6, 1976 billions op dollars billions op dollars iis compounded annual

PERCENT 10.5 i—

YIELDS ON SELECTED SECURITIESAVERAGES OF DAILY RATES ENDED FRIDAY PERCENT

—1 10.5

10,0

9.5

9.0

8.5

8.0

7.5

7.0

6.5

6.0

5.5

5.0

4,5

4.0

0

- -

-

z

- CO VORATf Aaa I IQNDS -

to IME BAA AN RATE

K -

z 1A ^ 1 -V

' kkJIHdir rPAi

TTTTBONDS**

parTiT ✓s'

—X|r

111 Li. V v •\ ^

TTTT COM! 4ERCIAL PAPEI *\ A

TTTT ^ =-LLJ1

90 DAY CO ‘smmz

- LULL

5JJ_L 1 1 1 II II 1 111 _LLL .1 JJLL 111 in 111 1 III. III. ..111. ■111 -L*22 S 19 3 17 9t 14 29 12 26 8 25 6 20 3 19 2 16 30 1 4 29 11 23 9 23 6 20 3 17 1 13 29AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT

1975 1976

10.0

9.5

9.0

8.5

8.0

7.5

7.0

6.5

6.0

5.5

5.0

4.5

4.0

0

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE MEEK ENDING* OCTOBER 15, 1976

197890 DAY

CD’S***

PRIMECOMMERCIAL

PAPER4—fl MONTH

PRIMEBANKERS’

ACCEPTANCESCORPORATEAaa BONDS

MUNICIPALBOM)S**

AUG. 6 5.36 5.50 5.34 8.51 6.6513 5.45 5.50 5.34 8.48 6.6020 5.35 5.50 5.33 8.42 6.6027 5.35 5.43 5.30 8.42 6.58

SEP. 3 5.33 5.45 5.28 8.41 6.5210 5.34 5.50 5.31 8.38 6.5217 5.35 5.50 5.30 8.39 6.5024 5.28 5.38 5.26 8.36 6.52

OCT. 1 5.33 5.38 5.25 8.37 6.478 5.28 5.38 5.22 8.33 6.33

15 * 2229

______________

5.17 5.25 5.09 8.31 N.A.

* AVERAGES OF RATES AVAILABLE.Mi BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.mrn 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 AVAILABLE6 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

Page 7: U.S. Financial Data: Week Ending: October 13, 1976 · 13/10/1976  · latest data plotted week ending. october 6, 1976 billions op dollars billions op dollars iis compounded annual

PERCENT

SELECTED SHORT-TERM INTEREST RATESAVERAGES OF DAILY RATES ENDED FRIDAY PERCENT

DISCOUNT RATE

FEDERAL FUNDS RATE

< 22 5 19 S 17 31 14 26 12 20 • 23 0 20 S 19 2 It 50 14 2B It 23 9 23 6 20 3 IT 1 IS mAUG SEP NOV DEC FEB MAR

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi OCTOBER 15, 19TB

1976FEDERAL

FUNDSm3-MONTH

TREASURYBILLS

t-YEARTREASURY

BILL3-5 YEAR

SOVERNCNT SECURITIES

LONG-TERMS0VERN9CNTSECURITIES

AUG. 6 5.36 5.16 5.72 7.12 7.8213 5.25 5.17 5.65 7.06 7.8020 5.29 5.15 5.64 7,04 7.7927 5.28 5.11 5.59 6.96 7.76

SEP. 3 5.28 5.09 5.56 6.91 7.7210 5.25 5.11 5.53 6.88 7.7017 5.22 5.10 5.52 6.89 7.6624 5.21 5.05 5.43 6.80 7.62OCT • 1 5.32 5.06 5.48 6.80 7,63

6 5.17 5.04 5.31 6.61 7.56is * 2229

5.02 4.90

—— - ,

5.14

___________________________________

6.39 7.51

* AVERAGES OF RATES AVAILABLE.** ^KnI!i£,lN£.rWISf£i0AY TO 0AYS EARLIER THAN DATE SHOWN.

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.S RELEASE.RATES ON LONG-TERM GOVERfMENT SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST. LOUIS.

PREPARED BY FEDERAL RESERVE BANK OF ST. LQUtS 7Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis

Page 8: U.S. Financial Data: Week Ending: October 13, 1976 · 13/10/1976  · latest data plotted week ending. october 6, 1976 billions op dollars billions op dollars iis compounded annual

NET TIME DEPOSITSALL COMMERCIAL BANKS

AVERAGES OF DAILY FIGURESBILLIONS OF DOLLARS SEASONALLY ADJUSTED billions of dollars

409.7411.3

415.0416.9

14 M 12 M • 11 7 21 4 t« 1 II HU 2T4 II » 1?■ 20 I 11 T IS 9 12 If to 24 7 21JAN FEB JUL AUG

LATEST DATA PLOTTED SEEK EM) I NO. OCTOBER 6. 1976

CURRENT DATA APPEAR IN TIC BOARD OF GOVERNORS* H.6 RELEASE.PLUS TIME■ NET TINE DEPOSITS ARE DEFINED AS. yVINOS DEPOSITS. TIME DEPOSITS OPEN AQCOUNT P

NET TIME DEPOSITS

COMPOUNDED ANNUAL RATES OF CHANCE, AVERAGE OF FOUR WEEKS ENDING.

IQ/S/75 1/7/76 5/5/76 4/7/76w -vs/re 6/9/76 7/7/76 It-4/76

TO THE AVERAGE OF FOUR WEEKSENDING.

V 3/76 16.2V 7/76 15.4 1B.95/ 5/76 15.3 17.9 13.26/ 9/76 14.9 16.6 12.9 13.47/ 7/76 14.7 16.0 12.9 13.2 12.6«/ 4/76 14.6 16.1 13.5 14.0 13.B 14.60/ fl/76 14.0 16.0 13.6 14.2 14.1 14.8 15.7

10/ 6/76 15.2 16.3 14.5 15.0 15.1 15.9 16.6 17.0

8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUISDigitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis

Page 9: U.S. Financial Data: Week Ending: October 13, 1976 · 13/10/1976  · latest data plotted week ending. october 6, 1976 billions op dollars billions op dollars iis compounded annual

DEMAND DEPOSIT COMPONENT OF MONEY STOCKAVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTEDBILLIONS OF DOLLARS BILLIONS OF DOLLARS 240

BILLIONS

225.2

229.0

1 IS 29 19 274 16AUG SEP JAN FEB APR MAY

1975 1976

235

230

225

220

215

LATEST DATA PLOTTED WEEK ENDING* OCTOBER 8, 1976

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.

DEMAND DEPOSIT COMPONENT OF MONEY STOCK

COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING*

10/8/75 1/7/76 3/3/76 4/7/76 5/5/76 6/9/76 7/7/76 8/4/76TO THE AVERAGE OF FOUR WEEKS ENDING*

3/ 3/76 0.64/ 7/76 1.2 2.45/ 5/76 3.7 6.6 11.56/ 9/76 3.4 5.5 7.9 10.37/ 7/76 2.7 4.0 5.2 5.7 -0.88/ 4/76 3.2 4.7 5.9 6.5 2.1 2.39/ 8/76 3.0 4.2 5.0 5.3 1.9 2.0 4.7

10/ 6/76

i

3.0 4. 1 4.7 4.9 2.1 2.2 4.1 2.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis

Page 10: U.S. Financial Data: Week Ending: October 13, 1976 · 13/10/1976  · latest data plotted week ending. october 6, 1976 billions op dollars billions op dollars iis compounded annual

BILLIONS OF DOLLARS

CERTIFICATES OF DEPOSIT LARGE COMMERCIAL BANKS

WEDNESDAY FIGURES NOT SEASONALLY ADJUSTED BILLIONS OF DOLLARS

6 20 3 17 I 11 21 12 30 10 24 7 21 4 IS 3 17 31 14 2S 12 26 9 23 7 21 4 IS 1 13 29 13 27JAN FEB JUL AUG

1975 1976LATEST DATA PLOTTED WEEK ENDING* OCTOBER 6, 1976

CURRENT DATA APPEAR IN THE BOARO OF BOVERNORS* H.S RELEASE.

NEGOTIABLE TIME CERTIFICATES OF DEPOSIT ISSUED IN DENOMINATIONS OF 9100,000 OR MORE BY LARGE MEEKLY REPORTING COMMERCIAL BANKS7

1976CERTIFICATES

OP DEPOSIT NOT SEAS. ADJ.

CERTIFICATES OF DEPOSIT SEAS. ADJ.

AUG. 4 67.3 66.511 66.6 65.418 66.2 64.425 66.0 63.5

SEP. 1 65.7 62.88 65.3 62.4

15 64.9 62.022 65.1 62.229 65.8 62.9

OCT. 61320

65.6 62.7

27

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

Page 11: U.S. Financial Data: Week Ending: October 13, 1976 · 13/10/1976  · latest data plotted week ending. october 6, 1976 billions op dollars billions op dollars iis compounded annual

BORROWINGS FROM FEDERAL RESERVE BANKS ALL MEMBER BANKS IN THE NATION

AVERAGES OF DAILY FIGURESBILLIONS OF DOLLARS K5 --------- ------------------

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

18Zft MILLIONS

6 20 5 17 1 15 29 12 28 10 24 7 21 <1 18 3 17 31 14 28 12 28 9 23 7 21 4 18 1 18 29 13 27AUG SEP OCT NOV DEC JAN FEB MAR APR MAY JUN JUL AUG SEP OCT

1975 1976

LATEST DATA PLOTTED WEEK ENDING. OCTOBER 13, 1976

BILLIONS OF DOLLARS 124

BUSINESS LOANS (COMMERCIAL AND INDUSTRIAL)

WEEKLY REPORTING LARGE COMMERCIAL BANKS SEASONALLY ADJUSTED

122

120

118

116

114

112

110

10B

106

104

102

100

96

96

8 20 3 17 1 13 29 12 26 10 24 7 21 4 18AUG SEP OCT NOV DEC JAN FEB

1975

BILLIONS OF DOLLARS 124

- -

- --*^s—

-

- -

- -

- \ -

- -

-—

-

- -_ COMPOUNDED ANNUAL RATES

OF CHANGE, average of -inc ruun crvirt— OCTOBER 6. 1976 FROM

— THE FOUR WEEKS END IN

“ AUG. 4, 1976 4.2— JUL. 7, 1976 0.7— JUN. 9, 1976 -1.4— MAY 5, 1976 -0.5

APR. 7, 1976 -4.5JAN. 7, 1976 -9.0

^ ‘ OCT. 8, 1975 -6.1**1-1.1 1 1 1 1 1 1 1 1 1 1 1 1 1

(IGi . 19715 MILL IQNS ~

.SEP. 1 111,276 _6 111,236 _

15 111,07522 111,497 “29 111,644 ~6 112,029 —

LI l 1 1 L.1.1 11111.'L 1.1.11. J.1.1 .1-11.1 _LLLL -111. 1 1 1 1 1 1 1OCT •

JJJL

122

120

116

116

114

112

110

106

106

104

102

96

3 17 31 14 28 12 26 9 23 7 21 4 16 1 13 29 13 27MAR APR MAY JUN JUL AUG SEP OCT

1976LATEST DATA PLOTTED WEEK ENDING. OCTOBER 6, 1976

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11

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

Page 12: U.S. Financial Data: Week Ending: October 13, 1976 · 13/10/1976  · latest data plotted week ending. october 6, 1976 billions op dollars billions op dollars iis compounded annual

FEDERAL RESERVE BANK OF ST LOUIS P. 0. BOX 442ST. LOUIS, MISSOURI 63166

RETURN POSTAGE GUARANTEED

FIRST CLASS MAIL U. S. POSTAGE

PERMIT

FIRST CLASS (MILPRESORTED

MEMBER BANK DEPOSITS SUBJECT TO RESERVE REQUIREMENTS

(CREDIT PROXY )AVERAGES OF DAILY FIGURES

8ILLI0NS OF DOLLARS SEASONALLY ADJUSTED560

550

540

530

520

510

500

400

480

470

= COMPOUNDED ANNUAL RATES OF CHANGE,= average of the four *keks ending = OCJOOER 6, ’976 FROM THE FOUR — WEEKS ENDINGi

= AUG. 4, 1976 1*2= JUL. 7, 1976 1.8= JUN. 9. 1978 4.3-MAY 5. 1976 3.3= APR* 7. 1976 3.3= JAN* 7. 1976 2.9= OCT. 8. 1975 3.5

BILLIONS OF DOLLARS

CREDITPROXY

CREDITPROXY

ADJUSTED

LLL8 20 AUG

X I 11 LLL INI

iniii

iii

l

i

CREDI T PROX t ADJl STED \/T—

/ 1

r- |

CRED! T PROX"

\

iniii

iii

LL LLL -LL J. I JLL

1976 BILLIONS

SEP.

OCT.

Ill I I I I

CREDITCREDITPROXY ____= 490

1

PROXY

514.0

adjusted

522.6—

6 513.6 521.5 ----3 48015 516.4 524*1 322 516.0 524.6 =29 514.2 522.6 *•— 4/06 520.2 528.6

11 I I II I I I 1 I I 1 I ll

540

530

520

510

500

1 15 2® 13 22 SEP OCT

3 17 I IS 2S 12 28 10 24 7 21 4 18 3 17 31 T4 29 12 28 9 23 7 21 4 t«SEP OCT NOV DEC JAN FEB MAH APR MAY JUN Jin. AUG

1975 1976

LATEST DATA PLOTTED MEEK ENDINGi OCTOBER 6. 1978

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.9 RELEASE.

" ^A?f§?^*N»!g&SIrfTgl«RC'AL PAPER- EUR000LL^ BORROWINGS OF

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

12Digitized for FRASER http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis