Full text of U.S. Financial Data : June 12, 2003 : Print Version
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June 12, 2003 USFinancialData U.S. Financial Data will be web-only after June 26, 2003. But the end of the printed version of USFD signals the beginning of an even better publication. As our readers know, we will discontinue printing and mailing the publication at the end of June 2003. At the same time, we will be providing an enhanced, web-based version of USFD. We have improved the publication by adding more data: USFD now contains more exchange rates, stock indices, futures and commodities prices (including oil and gas), and yields on Treasury inflation-indexed securities. In place of the usual front-page financial highlights, the electronic form of USFD will offer a calendar of releases updated weekly. This calendar will include many links to sources of economic and financial data. (For example, users will be able to click on the updated releases from the Bureau of Labor Statistics—as they become available—and be taken directly to their web site.) We hope that the new USFD will be even more versatile and valuable to our subscribers. The new version is now available at research.stlouisfed.org/publications/usfd2. All data are seasonally adjusted unless otherwise indicated. U.S. Financial Data is published weekly by the Research Division of the Federal Reserve Bank of St. Louis. For more information on data in this publication, please visit research.stlouisfed.org/fred2 or call (314) 444-8590. To be added to our free email notification list, please visit our web site at research.stlouisfed.org/publications/usfd2. Adjusted Monetary Base Averages of Daily Figures Seasonally Adjusted 730 Billions of Dollars 2003 Apr 2 16 30 May 14 28 Jun 11 720 Billions of Dollars Billions 711.931 706.996 718.990 719.851 724.826 718.798 730 720 710 710 700 700 690 690 680 680 670 670 660 660 3 17 Apr 1 15 29 12 26 10 24 May Jun Jul 7 21 4 Aug 18 Sep 2 16 30 13 27 11 25 Oct Nov Dec 8 22 Jan 5 19 Feb 5 19 Mar 2002 2 16 30 14 28 11 25 Apr May Jun 2003 The adjusted monetary base is the sum of Federal Reserve deposits and vault cash held by domestic depository institutions, currency held by the public, and an adjustment for the effect of changes in reserve requirement ratios. The monetary base series includes Federal Reserve deposits used to satisfy clearing balance contracts. Data are computed by this Bank. A detailed description of the adjusted monetary base is available from this Bank. Recent data are preliminary. Adjusted Monetary Base To the average of two maintenance periods ending: Compounded annual rates of change, average of two maintenance periods ending: 6/12/02 9/4/02 11/13/02 12/11/02 1/8/03 2/5/03 3/5/03 11/13/02 5.0 12/11/02 5.0 4.4 1/8/03 5.0 4.5 5.0 2/5/03 7.6 8.7 12.6 16.5 3/5/03 7.2 7.8 10.2 11.9 15.6 4/16/03 5.6 5.5 6.1 6.3 6.7 −1.2 5/14/03 6.7 7.0 8.1 8.7 9.5 4.4 4.9 6/11/03 6.5 6.7 7.6 8.0 8.6 4.4 4.7 4/16/03 11.9 Prepared by the Federal Reserve Bank of St. Louis Money Zero Maturity (MZM) Averages of Daily Figures 6400 Seasonally Adjusted Billions of Dollars 2003 Apr 28 May 5 12 19 26 Jun 2 6200 Billions of Dollars Billions 6219.6 6241.1 6253.6 6262.6 6277.4 6288.1 6400 6200 6000 6000 5800 5800 5600 5600 1 15 29 13 27 10 24 Apr May Jun 8 22 Jul 5 19 2 Aug 2002 16 30 14 28 11 25 Sep Oct 9 Nov 23 Dec 6 20 Jan 3 17 Feb 3 17 31 14 28 12 26 Mar Apr 2003 May 9 23 Jun MZM is M2 minus total small−denomination time deposits, plus institutional money funds, which are included in the non−M2 component of M3. Each component is seasonally adjusted. Money Zero Maturity (MZM) Compounded annual rates of change, average of four weeks ending: To the average of four weeks ending: 6/3/02 11/4/02 6.5 12/2/02 9.6 10.3 12/30/02 9.3 9.4 17.4 2/3/03 8.0 7.4 10.7 3.4 3/3/03 8.0 7.5 10.0 4.8 3.9 3/31/03 7.4 6.6 8.3 3.9 3.1 4.6 5/5/03 6.9 6.1 7.2 3.7 3.0 3.9 2.2 6/2/03 7.6 7.1 8.4 5.6 5.3 6.7 6.3 9/2/02 11/4/02 12/2/02 12/30/02 2/3/03 3/3/03 3/31/03 8.7 Prepared by the Federal Reserve Bank of St. Louis Adjusted Reserves Seasonally Adjusted 100 Billions of Dollars 2003 Mar 19 Apr 2 16 30 May 14 28 90 Billions of Dollars 100 Billions 71.714 72.187 66.115 72.398 71.034 75.153 90 80 80 70 70 60 60 50 50 3 17 Apr 1 15 29 12 26 10 24 May Jun Jul 7 21 4 Aug 18 Sep 2 16 30 13 27 11 25 Oct Nov Dec 8 22 Jan 5 19 Feb 5 19 Mar 2002 2 16 30 14 28 11 25 Apr May Jun 2003 Adjusted reserves is the difference between the adjusted monetary base and the currency component of M1. Adjusted Reserves To the average of two maintenance periods ending: Compounded annual rates of change, average of two maintenance periods ending: 5/29/02 8/21/02 10/30/02 11/27/02 12/25/02 1/22/03 3/5/03 10/30/02 −3.6 11/27/02 0.0 14.5 12/25/02 4.7 19.9 31.1 1/22/03 8.4 23.4 34.2 40.8 3/5/03 5.3 15.3 17.3 16.1 7.4 4/2/03 1.8 8.7 7.4 4.4 −4.2 −17.8 4/30/03 −2.5 1.9 −1.6 −5.3 −13.4 −24.6 −33.8 5/28/03 3.1 9.1 8.3 6.3 1.0 −6.2 −4.0 4/2/03 10.8 Prepared by the Federal Reserve Bank of St. Louis Money Stock (M1) and Total Checkable Deposits Averages of Daily Figures Seasonally Adjusted 1450 Billions of Dollars Billions of Dollars M1 2003 Apr 28 May 5 12 19 26 Jun 2 1400 1350 875 TCD Billions 1249.1 1255.2 1250.8 1262.9 1270.0 1262.4 2003 Apr 28 May 5 12 19 26 Jun 2 Billions 596.4 602.6 597.4 608.3 615.0 607.6 825 775 1300 725 1250 675 M1 (left scale) 1200 625 1150 575 TCD (right scale) 1100 525 1 15 29 13 27 10 24 Apr May 8 22 5 Jul Jun 19 2 Aug 16 30 14 28 11 25 Sep Oct Nov 9 23 6 Dec 20 3 Jan 17 3 Feb 17 31 14 28 12 26 Apr Mar 2002 May 9 23 Jun 2003 M1 is the sum of currency held by the nonbank public, total checkable deposits, and travelers checks. Total checkable deposits is the sum Fix of demand deposits and other checkable deposits at depository institutions. Current data appear in the Federal Reserve Board’s H.6 release. Currency Component of M1 Averages of Daily Figures Seasonally Adjusted 710 Billions of Dollars Billions of Dollars Compounded annual rates of change, average of the four weeks ending June 2, 2003, from the four weeks ending: 690 Jun 3, 2002 Sep 2, 2002 Dec 2, 2002 Dec 30, 2002 Feb 3, 2003 Mar 3, 2003 Mar 31, 2003 670 650 2003 Apr 28 May 5 12 19 26 Jun 2 6.9 6.7 7.7 7.8 8.0 7.3 6.9 Billions 645.3 645.3 646.0 647.1 647.5 647.3 710 690 670 650 630 630 610 610 590 590 1 15 29 13 Apr May 27 10 24 Jun 8 22 Jul 5 19 Aug 2002 2 16 30 14 28 Sep Oct 11 25 Nov 9 23 Dec 6 20 Jan 3 17 Feb 3 17 31 Mar 14 28 12 26 Apr 2003 May 9 23 Jun Current data appear in the Federal Reserve Board’s H.6 release. Fix Prepared by the Federal Reserve Bank of St. Louis Yields on Selected Securities Averages of Daily Figures 8.00 Percent Percent 8.00 7.00 7.00 6.00 6.00 Corporate Aaa Bonds 5.00 5.00 Prime Rate 4.00 4.00 3.00 3.00 2−Year Interest Rate Swap 2.00 2.00 1.00 1.00 Commercial Paper 0.00 0.00 5 19 3 Apr 2003 Mar 21 28 Apr 4 11 18 25 May 2 9 16 23 30 Jun 6 13 17 31 14 28 12 26 May Jun Jul 9 23 6 Aug 2002 20 Sep 4 18 Oct 1 15 29 13 27 10 24 Nov Dec 7 Jan 21 Feb 7 21 4 18 Mar Apr 2003 2 16 30 13 27 May Jun 30−Day Commercial Paper 90−Day CDs 2−Year Interest Rate Swap Corporate Aaa Bonds Corporate Baa Bonds Municipal Bonds * 1.21 1.23 1.21 1.22 1.21 1.23 1.22 1.20 1.22 1.21 1.23 1.21 1.13 1.22 1.25 1.22 1.23 1.26 1.26 1.24 1.23 1.23 1.21 1.22 1.18 1.08 1.97 1.92 1.80 1.88 1.94 1.89 1.78 1.69 1.62 1.51 1.52 1.45 1.35 5.99 5.94 5.81 5.81 5.80 5.68 5.56 5.42 5.23 5.01 5.05 5.00 4.89 7.04 6.97 6.91 6.93 6.89 6.79 6.68 6.52 6.39 6.23 6.24 6.22 6.13 4.83 4.84 4.79 4.76 4.74 4.66 4.58 4.50 4.35 4.30 4.31 4.27 N.A. Current data, from the Federal Reserve Board’s H.15 release, are averages of rates available for the week ending June 13, 2003 . * Bond Buyer’s Average Index of 20 municipal bonds, Thursday data. Prepared by the Federal Reserve Bank of St. Louis Selected Interest Rates Averages of Daily Figures 6.00 Percent Percent 5.00 6.00 5.00 10−Year Treasury Securities 4.00 4.00 3.00 3.00 Federal Funds Rate 2.00 2.00 Intended Federal Funds Rate 3−Month Treasury Bill 1.00 1.00 0.00 0.00 5 19 Apr 3 17 31 14 28 12 26 May 2003 Mar 21 28 Apr 4 11 18 25 May 2 9 16 23 30 Jun 6 13 ** Jun Federal Funds * 1.27 1.22 1.28 1.23 1.27 1.26 1.28 1.26 1.25 1.27 1.24 1.26 1.24 Jul 9 23 6 Aug 2002 20 Sep 4 18 Oct 1 15 29 13 27 10 24 Nov Dec Jan 7 21 Feb 7 21 4 18 Mar Apr 2003 2 16 30 13 27 May Jun 3−Month Treasury Bill 2−Year Treasury Securities 5−Year Treasury Securities 10−Year Treasury Securities Treasury Long−Term Average 1.14 1.15 1.10 1.13 1.16 1.14 1.11 1.09 1.05 1.04 1.09 1.05 0.96 1.72 1.65 1.54 1.61 1.70 1.66 1.56 1.48 1.44 1.36 1.33 1.25 1.16 2.97 2.93 2.84 2.92 2.98 2.97 2.88 2.70 2.52 2.35 2.32 2.27 2.16 3.97 3.96 3.90 3.97 3.99 3.97 3.92 3.77 3.56 3.38 3.39 3.36 3.23 5.01 5.04 4.99 5.04 5.02 4.97 4.90 4.81 4.62 4.42 4.46 4.46 4.36 Current data appear in the Federal Reserve Board’s H.15 release, except for the intended federal funds rate. * Seven−day averages for week ending two days earlier than date shown. **Averages of rates available. Prepared by the Federal Reserve Bank of St. Louis Money Stock (M2) and Money Zero Maturity Averages of Daily Figures 6400 Seasonally Adjusted Billions of Dollars Billions of Dollars 6400 M2 2003 Apr 28 May 5 12 19 26 Jun 2 6200 Billions 5946.4 5984.8 5994.6 6004.2 6011.6 6021.5 6200 MZM 6000 6000 5800 5800 M2 MZM 5600 2003 Apr 28 May 5 12 19 26 Jun 2 5600 Billions 6219.6 6241.1 6253.6 6262.6 6277.4 6288.1 5400 5400 1 15 29 13 27 10 24 Apr May Jun 8 22 Jul 5 19 2 Aug 2002 16 30 14 28 11 25 Sep Oct 9 Nov 23 6 Dec 20 Jan 3 17 Feb 3 17 31 14 28 12 26 Mar Apr 2003 May 9 23 Jun M2 is the sum of M1, savings (including money market deposit accounts), small time deposits and retail money funds. Current data appear in the Federal Reserve Board’s H.6 release. Money Stock (M2) Compounded annual rates of change, average of four weeks ending: To the average of four weeks ending: 6/3/02 11/4/02 7.8 12/2/02 7.9 7.5 12/30/02 7.2 6.3 5.6 2/3/03 7.2 6.5 6.2 5.2 3/3/03 7.6 7.3 7.4 7.1 9.1 3/31/03 7.2 6.6 6.5 6.0 7.1 6.9 5/5/03 7.1 6.7 6.6 6.2 7.0 6.9 5.0 6/2/03 8.0 7.8 8.1 8.0 9.0 9.6 9.0 9/2/02 11/4/02 12/2/02 12/30/02 2/3/03 3/3/03 3/31/03 12.0 Prepared by the Federal Reserve Bank of St. Louis Savings and Small Time Deposits Averages of Daily Figures Seasonally Adjusted 1250 Billions of Dollars Billions of Dollars 3100 Small Time 2003 Apr 28 May 5 12 19 26 2 Jun 1150 1050 Billions 869.5 867.6 865.3 863.6 861.8 859.9 3000 2900 2800 950 Small Time (left scale) 2700 850 Savings 750 2003 Apr 28 May 5 12 19 26 Jun 2 Savings Deposits (right scale) 650 2600 Billions 2934.3 2967.8 2980.2 2982.4 2982.2 3004.0 2500 2400 550 1 15 29 13 27 10 24 Apr May 8 22 5 Jul Jun 19 2 Aug 16 30 14 28 11 25 Sep Oct 9 Nov 23 6 Dec 20 3 Jan 17 3 Feb 17 31 14 28 12 26 Apr Mar 2002 May 9 23 Jun 2003 Savings deposits and small time deposits are at all depository institutions. Fix Large Time Deposits and Retail Money Funds Averages of Daily Figures Seasonally Adjusted 1200 Billions of Dollars Billions of Dollars Large Time 2003 Apr 28 May 5 12 19 26 2 Jun 1100 1200 Retail Money Billions 815.4 823.0 818.9 817.6 817.7 817.6 2003 Apr 28 May 5 12 19 26 2 Jun Billions 893.5 894.1 898.3 895.4 897.6 895.2 1100 1000 1000 Retail Money 900 900 800 800 Large Time 700 700 1 15 29 13 Apr May 27 10 24 Jun 8 22 Jul 5 19 Aug 2002 2 16 30 14 28 Sep Oct 11 25 Nov 9 23 Dec 6 20 Jan 3 17 Feb 3 17 31 Mar 14 28 12 26 Apr 2003 May 9 23 Jun Large time deposits and retail money funds are at all despository institutions. Large time deposits are those issued in denominations of $100,000 or more. Retail money funds were originally called general purpose and broker/dealer money market funds. Prepared by the Federal Reserve Bank of St. Louis Fix Total Borrowings From Federal Reserve Banks Averages of Daily Figures 1.6 Billions of Dollars Billions 0.050 0.051 0.056 0.059 0.076 0.063 2003 May 7 14 21 28 Jun 4 11 1.4 1.2 Billions of Dollars 1.6 1.4 1.2 1.0 1.0 0.8 0.8 0.6 0.6 0.4 0.4 0.2 0.2 0.0 0.0 3 17 1 Apr 15 29 12 26 10 24 May Jun Jul 7 21 4 Aug 18 2 16 30 13 27 11 25 Oct Sep Nov Dec 8 22 5 Jan 19 5 Feb 19 2 16 30 14 28 11 25 Apr Mar 2002 May Jun 2003 As of January 9, 2003, borrowings include primary, secondary, and seasonal credit. Prior to that, borrowings include seasonal, adjustment, and extended credit. Fix Bank Loans and Credit All Commercial Banks in the United States * Seasonally Adjusted 6700 Billions of Dollars Billions of Dollars Bank Credit 2003 Apr 23 30 May 7 14 21 28 6500 6300 5250 Loans & Leases Billions 6034.9 6077.0 6079.9 6114.3 6108.3 6130.8 2003 Apr 23 30 May 7 14 21 28 Billions 4254.0 4261.5 4281.1 4300.1 4288.1 4290.6 5050 4850 6100 4650 Bank Credit (left scale) ** 5900 4450 5700 4250 Loans and Leases (right scale) 5500 4050 5300 3850 3 17 Apr 1 15 May 29 12 26 10 24 Jun Jul 7 21 Aug 2002 4 18 Sep 2 16 30 Oct 13 27 11 25 Nov Dec 8 22 Jan 5 19 Feb 5 19 Mar 2 16 30 14 28 11 25 Apr 2003 May Current data appear in the Federal Reserve Board’s H.8 release. * Includes foreign−related institutions ** Includes loans and leases and securities Prepared by the Federal Reserve Bank of St. Louis Jun Fix Commercial Paper of Nonfinancial Companies Not Seasonally Adjusted 300 Billions of Dollars 2003 May 7 14 21 28 Jun 4 11 250 Billions of Dollars Billions 148.5 145.9 145.9 141.0 139.2 137.2 300 250 200 200 150 150 100 100 3 17 1 Apr 15 29 12 26 10 24 May 7 Jul Jun 21 4 Aug 18 2 16 30 13 27 11 25 Oct Sep Nov 8 Dec 22 5 Jan 19 5 Feb 19 2 Apr Mar 2002 16 30 14 28 11 25 May Jun 2003 Current data appear at www.federalreserve.gov/releases/cp/table1.htm. Fix Commercial and Industrial Loans Seasonally Adjusted 1100 Billions of Dollars Billions of Dollars All Banks 2003 Apr 23 30 May 7 14 21 28 1075 1050 600 Large Banks Billions 943.0 940.6 935.0 935.7 933.0 931.8 2003 Apr 23 30 May 7 14 21 28 Billions 469.3 467.4 463.0 463.0 461.7 460.9 575 550 525 1025 500 Large Banks (right scale) ** 1000 475 975 450 All Banks (left scale) * 950 425 925 400 3 17 Apr 1 15 29 12 May Jun 26 10 24 Jul 7 21 Aug 2002 4 18 Sep 2 16 30 13 Oct Nov 27 11 25 Dec 8 22 Jan 5 19 Feb 5 19 Mar 2 16 Apr 2003 30 14 28 11 May 25 Jun Current data appear in the Federal Reserve Board’s H.8 release. * Includes foreign−related institutions. ** Weekly reporting, domestically chartered banks. Fix Prepared by the Federal Reserve Bank of St. Louis Trade−Weighted Exchange Rate Indexes Averages of Daily Figures 125 March 1973=100 2003 May 7 14 21 28 Jun 4 11 120 115 January 1997=100 Major 91.3 89.9 88.8 88.9 89.0 88.5 2003 May 7 14 21 28 Jun 4 11 Broad 119.8 118.5 118.0 118.0 118.1 118.0 110 150 145 140 135 Broad Index (right scale) 105 130 100 125 95 120 Major Currency Index (left scale) 90 115 85 110 3 17 Apr 1 15 29 12 26 10 24 May Jun Jul 7 21 Aug 2002 4 18 Sep 2 16 30 13 27 11 25 Oct Nov Dec 8 22 Jan 5 19 Feb 5 19 Mar 2 16 30 14 28 11 25 Apr May Jun 2003 The major currency index (MCI) comprises 7 currencies. The broad index comprises the MCI plus 19 additional currencies. Further details may be found at www.federalreserve.gov/releases/h10/summary/. Prepared by the Federal Reserve Bank of St. Louis