Full text of U.S. Financial Data : Week Ending: January 27, 1982
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F^t rs/x\ r*ax\ z_ Week ending: January 27, 1982 t |F~»r,'J.at?-^prrowing by depository institutions at the discount window and in the Tfeflerahffinds market are alternative ways of obtaining short-term funds to meet reserve requirements. Thus, borrowings at the discount window usually increase as the cost of borrowing falls relative to the cost of obtaining funds in the federal funds market, that is, as the spread between the federal funds rate and the discount rate increases. 2 ^3’he Federal Reserve reduced the discount rate from 13 percent to 12 percent on December 4, 1981, in response to a substantial narrowing of the spread between the federal funds rate and the discount rate. This reduction in the rate spread was accompanied by a relatively low level of seasonal and adjustment borrowings. For example, seasonal and adjustment borrowings averaged $334 million for the four-week period ending December 9, 1981, while the discount rate averaged 26 basis points above the federal funds rate. Since then, seasonal and adjustment borrowings have increased substantially in response to a general widening of the rate spread. For example, seasonal and adjustment borrowings averaged $1,310 million for the four-week period ending January 27, 1982, and the rate spread averaged 109 basis points. Extended credit loans, which are made to depository institutions facing temporary liquidity problems, have longer terms than adjustment borrowings. As a result, extended credit borrowings are relatively unresponsive to the rate spread. This is evidenced by the fact that extended credit borrowings averaged $125 million for the four weeks ending December 9, 1981, and $159 million for the four weeks ending January 27, 1982. This modest increase in extended credit borrowings occurred despite a substantially larger rate spread during the latter period. Categories of Borrowings from Federal Reserve Banks U and the Rate Spread (amounts in millions of dollars) Week ending 1981 November 18 25 December 2 9 16 23 30 1982 January V 2/ 3/ Extended credit Seasonal borrowings Adjustment borrowings %j Rate spread 3/ $ 126 123 125 125 71 161 80 $ 102 69 41 30 70 70 75 $ 333 145 151 463 257 390 728 17 -58 -52 -10 26 43 54 49 194 195 199 59 53 70 96 1346 753 685 2176 98 42 96 198 6 13 20 27 Weekly averages of daily figures. Total borrowings less extended credit and seasonal borrowings. Difference between the federal funds rate and the discount rate in basis points. Prepared by Federal Reserve Bank of St. Louis Released: January 29, 7982 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 ADJUSTED MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS ----------------- “I---------- 176 BILLIONS OF DOLLARS 176 ------------- 1---------- 1----BILLIONS 170.5 170,7 172. 1 170.9 172.6 171.6 DEC. II 14 JAN 28 II FEB 25 11 25 I 8 22 15 29 12 26 9 23 7 LATEST DATA PLOTTED WEEK ENDING: JANUARY 27. 2 21 OCT MAR 16 30 13 27 JAN NOV 10 24 FEB 1982 AVAILABLE FROM THIS BANK. ADJUSTED MONETARY BASE COMPOUNDED ANNUAL RATES OF CHANGE, 1/28/81 4/29/81 6/24/81 7/29/81 AVERAGE OF FOUR WEEKS ENDING: 8/26/81 9/30/81 10/28/81 11/25/81 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/24/81 7/29/81 8/26/81 9/30/81 10/28/81 11/25/81 12/30/81 1/27/82 6.7 6.6 6.9 5.5 5.0 5.2 5. 1 5.7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5.9 6.6 4.5 3.8 4.2 4.3 5. 1 7.5 3.8 3.0 3.7 4.0 5.0 2.4 1 .7 2.9 3.4 4.7 -1 .4 1.2 2.2 4.0 3.5 4. 1 5.9 6.0 7.8 8. 1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS ADJUSTED RESERVES AVERAGES OF DAILY FIGURES StASUNALLY ADJUSTED BILLIONS OF DOLLARS 50 ------------- ,---------- ,-------- BILLIONS OF DOLLARS --------------------------------- 50 BJ.L.LIQNS 47.3 47.2 46.5 47.8 46.8 48.3 3 17 31 14 28 JAN II 25 11 FEB 25 MAR 8 22 APR ■LLL 6 20 MAY JUN 1980 -Li J I I I I I 4 JUL 18 2 18 30 13 27 10 24 JAN FEB 1981 LATEST DATA PLOTTED WEEK ENDING: JANUARY 20, 1982 ADJUSTED MONETARY BASE (RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FFHFRAi BANKS PLUS CURRENCY IN CIRCULATION) LESS CURRENCY HELD BY THE NONBANK PUBLIC rfccrwc RESERVE ADJUSTED RESERVES COMPOUNDED ANNUAL RATES OF CHANGE, 1/21/81 4/22/81 6/17/81 7/22/81 5.5 3.5 6. 1 4.9 2.9 3.7 3.5 2.8 3.5 8. 1 5.7 2.6 3.8 3.5 2.6 7.6 4.0 0.0 2.0 2. 1 1 . 1 8.9 1.7 4.0 3.6 2. 1 AVERAGE OF FOUR WEEKS ENDING: 8/19/81 9/23/81 10/21/81 11/18/81 TO THE AVERAGE OF FOUR WEEKS END 1NG: 6/17/81 7/22/81 8/19/81 9/23/81 10/21/81 11/18/81 12/23/81 1/20/82 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -7. 1 -1.7 -0.6 -1.5 -1.4 0.0 -1.3 6.3 2.6 -1.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4 MONEY STOCK ( Ml A) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 400 ---------- ------------- ------ BILLIONS OF DOLLARS ------1------------- 1---------- 400 B1LUQNS NOV. DEC. 361.2 365.6 363.9 363. 1 364.6 363.7 25 365 5 10 3 17 31 14 28 JAN 11 2S FEB II 25 8 22 MAR 6 20 3 MAY JUN A 17 OCT 18 Mil 2 16 30 13 27 NOV LATEST DATA PLOTTED WEEK ENDING: DECEMBER 30, 1981 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE. MIA CONSISTS OF CURRENCY HELD BY THE NONBANK PUBLIC PLUS COMMERCIAL BANK DEMAND DEPOSITS HELD BY THE NONBANK PUBLIC (EXCLUDING THOSE HELD BY FOREIGN BANKS AND OFFICIAL INSTITUTIONS) PLUS TRAVELER’S CHECKS OF NONBANK ISSUERS. MONEY STOCK (MIA) COMPOUNDED ANNUAL RATES OF CHANGE, 12/31/80 4/1/81 -13.0 -12.8 -1 1.2 -9.5 -9.3 -8.0 -6.8 -6.0 -4.5 -3.5 -2.4 -3. 1 -2.1 -1 . 1 -0.6 5/27/81 7/1/81 AVERAGE OF FOUR WEEKS ENDING: 7/29/81 9/2/81 9/30/81 10/28/81 TO THE AVERAGE OF FOUR WEEKS ENDING: 5/27/81 7/ 1/81 7/29/81 9/ 2/81 9/30/81 10/28/81 12/ 2/81 12/30/81 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -7.0 -4. 1 -4.8 -3. 1 -1.7 -1.0 0.8 -1 .8 -0.2 0.9 1.4 -2.5 -0.2 1 . 1 1 .6 -1 .3 1.0 1.7 4.9 4.6 4.4 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK (Ml ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 465 r----------- 1---------- 1------ BILLIONS OF DOLLARS ----------------------------465 B ILL IONg 441 .9 ~ JAN. 450.5 451 . 1 450.5 INI 3 17 31 14 28 II 25 II 25 8 22 5 29 12 26 9 23 4 18 2 16 30 13 27 10 24 JAN FEB 1981 LATEST DATA PLOTTED WEEK ENDING: CURRENT DATA APPEAR JANUARY 20, 1982 1982 IN THE BOARD OF GOVERNORS' H.6 RELEASE. ^41 CONS I STS OF CURRENCY HELD BY THE NONBANK PUBLIC PLUS COMMERCIAL BANK DEMAND DEPOSITS AwnDnTHPRHrucr^o.Nc ncikc?reEncLyP1 N£ TH0SE HELD BY FOREIGN BANKS AND OFFICIAL INSTITUTIONS) AND OTHER CHECKABLE DEPOSITS OF ALL DEPOSITORY INSTITUTIONS PLUS TRAVELER'S CHECKS MONEY STOCK (Ml ) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING-. 1/21/81 4/22/81 6/17/81 7/22/81 8/19/81 9/23/81 10/21/81 11/18/81 6.9 5.8 5.9 5.2 4.8 4.9 6. 1 7.2 -2.6 -0.4 -0. 1 0.2 0.9 3. 1 4.8 3.7 2.7 2.5 3. 1 5.5 7.5 3.5 3.0 3.7 6.6 8.7 1.3 2.7 6.5 9.0 3.8 8.7 1 1.5 11.9 14.7 18.9 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/17/81 7/22/81 8/19/81 9/23/81 10/21/81 11/18/81 12/23/81 1/20/82 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 6 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT 22.0 22.0 21.0 PRIME BANK LOAN RATE 21 .0 20.0 20.0 19.0 19.0 90 DAY CD'S 18.0 17.0 16.0 16.0 COMMERCIAL PAPER 15.0 14.0 14.0 CORPORATE Aaa bonds 13.0 13.0 12.0 1 1 .0 1 1 .0 10.0 10.0 9.0 8.0 5 19 2 16 30 13 27 FEB 13 27 MAR 10 24 22 S 19 3 17 31 14 28 II 0 25 NOV APR DEC 1980 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JANUARY 29, 1982 DEC. JAN. FEB. 4 1 1 18 25 1 8 15 22 29 X 5 12 19 26 1982 90 DAY CD'S PRIME COMMERC1AL PAPER XXX PRIME BANKERS' ACCEPTANCES CORPORATE Aaa BONDS CORPORATE Baa BONDS MUNICIPAL BONDS XX 11.62 11.96 12.68 13. 16 13.03 12.91 13.22 13.66 14.35 11.35 11.61 12.34 12.71 12.71 12.70 13.04 13.42 13.96 11.37 11.71 12.31 12.83 12.67 12.48 12.90 13.32 13.77 13.99 14.16 14.11 14.36 14.50 14.81 15.29 15.36 15.33 16. 15 16.42 16.55 16.75 16.86 16.95 17. 12 17. 14 17. 18 12. 18 12.89 13.00 13.17 13.30 13.36 13.44 13.16 N. A. 1 | 1 * AVERAGES OF RATES AVAILABLE. „ ___ „ T XX BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA. XX* 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 22.0 INTEREST RATES AVERAGES OF DAILY RATES ENDED FRIDAY percent PERCENT 22.0 |— —| 21.0 21.0 FEDERAL FUNDS RATE 20.0 19.0 3-MONTH TREASURY BILL 14.0 DISCOUNT RATE 12.0 5-YEAR TREASURY SECURITIES 10.0 10.0 ___ 2 tQsn JAN 16 30 13 27 PEB 13 27 MAR 10 24 APR JXLLLLL1 8 22 3173114 28 MAY JUL - — 519 JUN *UG II 25 9 23 SEP OCT 6 20 418 115 79 NOV DEC JAN 1? FEB 1981 ,gg2 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. JANUARY 29, 1982 1982 DEC. 4 1 1 18 25 JAN. 1 8 15 22 29 * FEB. 5 12 19 26 FEDERAL FUNDS XX 12.48 12.04 12.26 12.43 12.54 12.98 12.42 12.96 13.98 3-MONTH TREASURY BILL 10.39 10.47 10.94 11.14 11.35 11.59 12.07 12.66 12.86 6-MONTH TREASURY 81LL XXX 10.70 10.77 11.60 11.84 12.45 12.28 12.81 13. 10 13.53 1-YEAR TREASURY BILL 10.85 11.13 11.53 12. 16 12.23 12.34 12.84 13. 1 1 12.85 5-YEAR TREASURY SECURITIES 13.03 13.47 13.44 14.03 14.04 14.46 14.79 14.81 14.68 LONG-TERM TREASURY SECURITIES 12.78 13.21 13. 19 13.54 13.69 14.07 14.35 14.27 14.07 * AVERAGES OF RATES AVAILABLE ZTHAN DATE SHOmTREASURY B I Ll'y I ELD^ON^I SCOUNTRBAS11.ARE C0MPUTE0 BY ™E FEDERAL "ESERVE BANK OF ST. LOUIS. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 7 8 MONEY MULTIPLIER u CURRENCY COMPONENT OF MONEY STOCK 2/ AVERAGES OF DAILY FIGURES SEASONALLY AUJUSItU RATIO RATIO RATIO DEC. Ml MULTIPLIER JAN. I 1 J-L LATEST DATA PLOTTED WEEK ENDING: JANUARY 20, I I I 1 I I 1 1982 BILLIONS OF DOLLARS ------------------------------- 128 BILLIONS OF DOLLARS 128 ------------- 1---------- 1-----COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING JANUARY 20, 1982 FROM THE FOUR VfcEKS ENDING: NOV. OCT. SEP. AUG. JUL. APR. JAN. 18,1981 11.9 21, 1981 9.9 23, 1981 8.0 19, 1981 5.9 22, 1981 6. 1 22, 1981 6.2 21, 1981 6.5 CURRENCY PILLIQNS — DEC. 122.7 I 1111111 I 25 II 25 8 22 LATEST DATA PLOTTED WEEK ENDING. JANUARY 20, I 15 29 12 26 4 18 2 1111111 16 30 13 27 10 24 1982 1/ RATIO OF MONEY STOCK I Ml ) 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 AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 275 ------------- ----------------- D11, _ BILLIONS OF DOLLARS ------------- -----------1---------- 1------------- 1---------- 1---------- 275 BILLIONS DEC. 16 235.8 236.7 234.7 244.9 240.3 237.4 1.1.1 1 I I I 1 I I 3 17 31 I4 28 II 25 II 25 8 22 6 20 3 17 I 15 JUL 1981 1980 LATEST DATA PLOTTED WEEK ENDING: CURRENT DATA APPEAR JANUARY 20, 1982 IN THE BOARD OF GOVERNORS’ H.6 RELEASE. DEMAND DEPOSIT COMPONENT OF MONEY STOCK COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 1/21/81 4/22/81 6/17/81 7/22/81 8/19/81 9/23/81 -4.0 -5.6 -3.8 -4.0 -1 . 1 0.6 -4.8 -2.5 -3. 1 0.3 2. 1 -3.6 -4.0 0.4 2.5 6.0 10/21/81 11/18/81 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/17/81 7/22/81 8/19/81 9/23/81 10/21/81 11/18/81 12/23/81 1/20/82 -18.2 -16. 1 -14.2 -13.4 -11.8 -11.2 -9.0 -7.5 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -10.4 -8. 1 -8.2 -6.5 -6.3 -3.8 -2.2 7.0 12.7 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 10 SAVINGS PLUS SMALL TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 525 ------------- ,---------- 1------ BILLIONS OF DOLLARS ------------------------------- 525 BILLIONS DEC. 16 — JAN. 3 17 31 511.7 511.1 510.8 511.2 513.4 514.6 14 28 II JAN 25 1 FEB 25 MAR 8 22 6 20 3 17 MAY JUN Lllu JAN FEB 1980 LATEST DATA PLOTTED WEEK ENDING: JANUARY 20, 1982 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE. TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN $100,000. SAV1NGS PLUS SMALL TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 1/21/81 4/22/81 6/17/81 7/22/81 8/19/81 9/23/81 10/21/81 4.5 4.4 5.4 5.6 5.8 6.9 7.3 7.0 4.9 6.5 6.6 6.8 8.2 8.5 8.0 7.6 7.4 7.5 9.3 9.5 8.7 9.2 8.7 10.8 10.7 9.6 7.4 10.5 10.5 9.2 12.7 11.8 9.8 13.7 10.5 11/18/81 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/17/81 7/22/81 8/19/81 9/23/81 10/21/81 11/18/81 12/23/81 1/20/82 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7.3 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS BORROWINGS FROM FEDERAL RESERVE BANKS AVERAGES OF DAILY FIGURES billions of dollars 1982 billions of dollars MILLIONS — DEC. 23 JAN. 6 IOOO DEC 1980 JAN FEB MAR APR MAY JUN JUL 1981 LATEST DATA PLOTTED WEEK ENDING: JANUARY 27, AUG SEP OCT NOV DEC JAN FEB 1982 1982 BUSINESS LOANS u ( COMMERCIAL AND INDUSTRIAL ) WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/ SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS BILLIONS OF DOLLARS _ COMPOUNDED ANNUAL RATES _ OF CHANGE, AVERAGE OF THE FOUR ftEEKS ENDING JANUARY 20, 1982 FROM THE FOUR WEEKS ENDING: NOV. 18 SEP. AUG. JUL. — APR. JAN. 20.6 23 19 22, 22, 21 , 12.6 MILLIONS DEC. 16 JAN. 6 1 .1 I M I JAN FEB MAR 1980 OCT NOV 192,405 191,087 92,762 194,063 194,064 195,226 J-Ll_U.il 1 JAN FEB I 981 LATEST DATA PLOTTED WEEK ENDING: JANUARY 20, 1982 1/ BUSINESS LOANS INCLUDE BANKERS1 ACCEPTANCES AND COMMERCIAL PAPER. 2/ BANKS WITH DOMESTIC ASSETS OF *750 MILLION OR MORE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 n LARGE TIME DEPOSITS ALL COMMERCIAL BANKS BILLIONS OF DOLLARS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 265 260 255 250 245 240 235 230 225 220 LATEST DATA PLOTTED WEEK ENDING-. JANUARY 20, 1982 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. TIME DEPOSITS ISSUED IN DENOMINATIONS OF #100,000 OR MORE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
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