Full text of U.S. Financial Data : January 6, 1984

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wIlE

LIBRA
JAN

.S. Financial Data

9

January6,1984

In comparison to the previous three years, 1983 was a year
of stable interest rates, with most rates varying no more than
100 to 150 basis points over the year. This contrasts
dramatically with 1982, when most rates dropped 400 to 500
basis points, and with 1980 and 1981, when rates were both more
variable and, for the most part, higher than in 1983.
The table below shows the average monthly change in
interest rates for selected financial assets. For each asset,
interest rate variability is much lower in 1983 than in any of the
previous three years. The table also shows that the variability of
short-term interest rates has fallen every year since 1980.
Average Monthly Change in Interest Rates
(average change, in absolute value, in basis points)

1979
1980
1981
1982
1983

Federal
funds

1-year
Treasury bills

Corporate
Aaa bonds

42.6
185.8
130.8
76.2
18.7

29.7
127.4
84.3
63.8
24.6

18.5
60.3
46.2
49.0
20.3

views expressed do not necessarily

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

--A. Steven Holland

FEDERAL
RESERVE
RANK uf
ST. I i H IS

reflect official positions of this Bank or the Federal Reserve System

2
ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

.

BILLIONS OF DOLLARS

202
200

199.6
199.8
199.6
200.7
200. 1

198

201.0

196

194

188

186

3

17

115 29 12 20

JAN

9 23

FEB

9 23

6 20

4 18

APR

MAY

I

15 29 13 27

10 24

7 21

SEP

1982

OCT

DEC

1983

LATEST DATA PLOTTED WEEK ENDING: JANUARY 4,

JAN
1984

1984

THE ADJUSTED MONETARY BASE CONSISTS OF: ( I > RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT
FEDERAL RESERVE BANKS, <2> CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE
VAULTS OF ALL DEPOSITORY INSTITUTIONS). AND (3) AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO
CHANGES. THE MAJOR SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT.
DATA
ARE COMPUTED Bv THIS BANK.
A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAIL­
ABLE FROM THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE
1/5/83

AVERAGE OF FOUR WEEKS ENDING:

4/6/83

6/1/83

7/6/83

8/3/83

9/7/83

10/5/83

11/2/83

9.3
7.9
7.5
7. 1
7.3
7.2
7.1

6. 1
6. 1
5.8
6.4
6.4
6.3

4,8
4.8
5.8
5.9
5.9

5.4
6.5
6.5
6.4

6.8
6.7
6.5

7.6
7.1

6.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/
7/
8/
9/
10/
11/
12/
1/

1/83
6/83
3/83
7/83
5/83
2/83
7/83
4/84

12.7
11.8
10.7
10.0
9.5
9.4
9. 1
8.9


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ADJUSTED RESERVES
SEASONALLY ADJUSTED

ILL IONS OF DOLLARS

BILLIONS OF DOLLARS

BULLIONS
53.6
54.0

1

NOV

15 20 12 26

DEC
1982

JAN

0 29

FEB

0 29

MAR

6 20

4 18

I

APR

MAY

JUN

IS 20 19 27 10 24

7 21

9 10

SEP

OCT

2

16 90 14 28 II

DEC

,g,

25

JAN

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 28, 1983
&£fTpPuS°S^Sc?^ CIRCULAfloSnLEsI SSRW&D'BriiMAlK

RESERVE

ADJUSTED RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
12/29/82
3/30/83 5/25/83 6/29/83 7/27/83 8/31/83 9/28/83 10/26/83
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/25/83
6/29/83
7/27/83
8/31/83
9/28/83
10/26/83
11/30/83
12/28/83

13. 1
13.8
1 1.5
9.5
7.9
7.2
6.4
6.3


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

10.2
7. 1
5.0
3.4
3.0
2.5
2.8

7.8
4.2
2.2
1 .8
1.4
1 .9

-2.1
-2.9
-2.2
-1.7
-0.7

-3.2
-2.2
-1.6
-0.4

-2.4
-1.5
0.0

0.0
1.5

2.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
530
525

NOV.

23

519.2
517.3
522.6
520.7
522. 1
521.5

520
515
510
505
500
495
490
485
480
475
470

I

15 29 12 26

9 29

9 29

6 20

4 18

APR

MAY

I

15 29 19 27

10 24

7 21

9 IQ

SEP

OCT

2

IB 90 14 20 II

DEC

25

JAN

1982
LATEST DATA PLOTTED WEEK ENDING: DECEMBER 28. 1983
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
Ml CONSISTS OF CURRENCY HELD BY THE NONBANK PUBLIC PLUS COMMERCIAL BANK DEMAND DEPOSITS ___
HELD BY THE NONBANK PUBLIC (EXCLUDING THOSE HELD BY FOREIGN BAFKS AND OFFICIAL INSTITUTIONS)
AND OTHER CHECKABLE DEPOSITS OF ALL DEPOSITORY INSTITUTIONS PLUS TRAVELERS* CHECKS.

MONEY STOCK ( Ml )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
2/29/82

3/30/83

5/25/83

6/29/83

7/27/83

8/31/83

14.6
14.0
13.6
1 1.6
10.9
10.0
8.9
8.9

1 1 .7
1 1.5
8.9
8.2
7.3
6.2
6.5

11.2
7.3
6.6
5.7
4.6
5.2

5. 1
4.9
4.1
3.1
4.1

2.3
2.1
1.5
2.9

3. 1
1.8
3.5

9/28/83 10/26/83

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/25/83
6/29/83
7/27/83
8/31/83
9/28/83
10/26/83
11/30/83
12/28/83


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

0.7
3.3

4.0

PREPARED BY FEDERAL RESERVE BAFK OF ST. LOUIS

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK s
RATIO
2.9

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
—1----------- 1—1—

1963
wv- §8
DE C.

RATIO
1181

7

11
Ml Ml LTIPLI :r
2.7

r\

■■ -rtv

2.5

2.4

iH

-1..L 1

J ILL. -ILL 1 1 1

1 1 1 1

J 1 1

j i i. j-i i.j

in

1111

-LI 1

1 1 1

1 II 1

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 28, 1985
BILLIONS OF DOLLARS
I
146
144
142
140

7

111 -LLL

BILLIONS OF DOLLARS
148

1

COMPOUNDED ANNUAL R *TES
----- OF CHANGE. AVERAGE
THE FOUR llKEEKS ENDI MG
“ DECEMBER 28. 1983 F *0M
-----THE FOUR WEfeKS ENDI MG:
- OCT.
SEP.
- AUG.
- JUL.
JUN.

26,
28,
31,
27,
29,

1983
1983
1983
1983
1983

7.<
8.
8.
8.1
8.

DE c.

29)

1982

9.

_

146
144
-

CURRE NCY

142
140
138

-

136

-

-

154
11aai
-

NOV .

132

DEC .

i?0
hn
III 1
NOV
DEC
1982

111

111

1111

111

111

..1111

JAN

FEB

MAR

APR

MAY

JUN

1 1 1

JUL
1983

1111

27 10 24
AUG

J_LL
7 21
SEP

23
30
7
14
21
28

134

billions

145.6
145.4
145.5
145.6
145.9
146.5

—

132

_

130

Lu. 11111111118

LUJ
5 10
OCT

18 30 M 28 II 25
NOV
DEC
JAN
1984

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 28, 1983
1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.


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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
15.0

CORPORATE
Aaa BONOS

11.0
LOAN RATE

MUNICI PAL
BONDS

10.0

90 DAY
CD'S

:rcial
'ER

I I I I
5 18

3

17 31

14 28 11

JAN

25

FEB

11

23

§ 22

MAR

6 20

3 17

MAY

JUN

I

15 20

12 26

0 23

7 21

4

OCT

NOV

18

2

1983

1982

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt JANUARY 8,

1984
NOV.

DEC.

JAN.

4
1 1
18
25
2
9
16
23
30
6 X
13
20
27

18 30 13 27

1984

90 DAY
CD'S

30-DAY
C0M4ERC1AL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS K*

9.29
9.41
9.41
9.34
9.34
9.52
9.84
9.83
9.67
9.64

9.06
9. 16
9. 14
9.06
9.06
9.33
9.70
9.78
9.66
9.44

9. 13
9.22
9.25
9. 19
9.21
9.41
9.74
9.70
9.54
9.43

12.42
12.47
12.42
12.36
12.39
12.51
12.66
12.61
12.56
12.55

13.58
13.63
13.64
13.59
13.63
13.69
13.79
13.79
13.79
13.77

9.79
9.75
9.70
9.74
9.82
9.91
10.04
9.92
9.76
N. A.

81 AVERAGES OF RATES AVAILABLE.
JKX BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONOS, THURSDAY DATA.
N.A. - NOT AVAILABLE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
14.0

5-YEAR
TREASURY SECURITIES

LRAL
> RATE

9.0

DISCOUNT
RATE

TREAS

I I I I
5 IS

3

17 31

NOV

14 28 11

JAN

25

FEB

II

25

8 22

MAR

8 20

3 17

MAY

JUN

1982

1

15 20 12 26

0 23

7 21

1983

1984

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JANUARY 6,

1984
NOV.

DEC.

JAN.

4
1 1
18
25
2
9
16
23
30
6 *
13
20
27

1984

FEDERAL
FUNDS KX

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL X*K

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

9.40
9.36
9.42
9.26
9.27
9.49
9.52
9.62
8.96
10.06

8.58
8.77
8.81
8.79
8.88
8.97
9.09
9.00
8.96
8.99

8.68
9.02
8.91
8.96
9.05
9. 16
9. 12
9.24
9. 14
9. 19

9.05
9.09
9.08
9.07
9. 15
9.23
9.28
9.25
9.22
9.23

11.42
11.50
11.42
11.35
11.38
11.52
11.62
11.55
11.54
11.55

11.74
11.79
11.69
11.59
1 1.61
11.78
11.90
11.82
11.78
1 1 .81

* AVERAGES OF RATES AVAILABLE.
** SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 RELEASE.
KXX NEW ISSUE RATE
RATES ON LONG-TERM TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST. LOUIS.
TREASURY BILL YIELDS ON DISCOUNT BASIS.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

SI non

IS dO XNV8 3AH3S38 TYH3G3d Afl Q3HVd3Hd

s *2

Ml
87-

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MlMO

90
9190so-

9*2
l • l
1*2
6 *C
8>

l ’►
O’E
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0*9
C’l
6*21


http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
28/62/21

£8/0£/£

S *8
£ '8
86
O' 1 l
l *21
I’M
I’M
MSI

IS
OS
1*9
6’1
1 ‘6
9*21
l *21

£8/82/2l
£8/0£/1l
£8/92/0l
£8/82/6
£8/l£/8
£8/12/1
£8/62/9
E8/S2/S
•0NI0N3
SX33M anod do
39Va3AV 3H1 01

£8/02/01 £8/82/6

£8/l£/8

£8/12/1

£8/62/9

E8/S2/S

'•9NI0N3 SX33M anod JO 39Va3AV ‘30NVH0 do S3iva nvnNNv a30Nnodnoo
siisodia anevMDiHO TViOl

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8

TOTAL TIME DEPOSIT Si/
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
850
840
NOV.

23

711.2
711.9
712.1
712.6
713.4
714. 1

830
820
810
800
790
780
770
760
750
740
730
720
710
700
690
680
670

1

15 28 12 26

JAN

8 25

FEB

8 23

6 20

4 18

APR

MAY

1

15 28 13 27

10 24

7 21

5 18

SEP

OCT

2

0

16 30 H

1982

DEC

JAN
1984

LATEST DATA PLOTTED WEEK ENDINGt DECEMBER 28, 1983
1/ SAVINGS DEPOSITS PLUS SMALL TIME DEPOSITS PLUS LARGE TIME DEPOSITS

MMDAs, MMMFs and SUPER NOWs
(billions of dollars, not seasonally adjusted)
MMDAs 1/
No/ember
December

16
23
30
7
14
21
28

MMMFs 2/

$369.1
369.5
370.1
372.3
372.8
372.0
372.2

$179.8
179.2
178.6
178.6
178.7
178.1
177.3

SUPER NOWs 3/
$36.8
36.4
36.4
37.7
37.4
37.4
37.3

1/ Money market deposit accounts at all depository institutions, effective 12/14/82
2/ Total money market mutual fund balances.
'
3/ NOW accounts at all depository institutions, requiring a $2,500 minimum balance
and eligible to earn more than 5.25 percent, effective 1/5/83.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10
SMALL TIME DEPOSITS!/
COMMERCIAL BANK SAVINGS DEPOSITS
billions of

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

dollars

BILLIONS OF DOLLARS
460

460
450
440
430
420
410
400
300

E— 1983
=— NOV. 23
=
30
=
14
=—
21
28
E
i
i

360
350
340
330
320
310
300
0

349.9
352.
352 i
352.1

e

380
370

E
E
=
E
E
=
E
=

\

E

v

E
E
=
E
E
=
E
"1 1 1

=
=

-A

E
SMALL TIME DEPOS TS

V

=

E
=

s

E
=
1111 -1 LI _LLL 1111

111

111 J-Ll ]

111 XLLI

1 l l

III -1.1 1 1 .11 1

185
180
175
170

155

130

0

370
360
350
340
330
320
310
300

180
175

z

E

E

=
E

E
_E

170
165
160
155
150

SAVIN GS DE POSITS
z

E

E

E

E

140
135

390
380

r

150
145

400

BILLIONS OF DOLLARS
190

--------1------=
isfii BILLIONS
= NOV. 23
135.1
—
30
134.9
= DEC. 7 134. *
=
14
133.1
1
28
133.
=
1^—

165
160

420
410

0

LATEST DATA PLOTTED WEEK ENDING-. DECEMBER 28, 1983
BILLIONS OF DOLLARS
190

430

E

E

145
140
135
130

1111

111

111

11 m

111

in J.LI.I _LLL 1 1 1 1
4 18

I

1 1 1

! LI

JAN

FEB

MAR

APR

MAY

JUN

SEP

OCT

e 20

NOV
DEC
1982

15 29 19 27

JUL
1983

10 24

AUG

7 21

5 19

1 1 1 1 Xl-I JJ_L
2 16 30 14 28 II

NOV

DEC

25

JAN
1984

LATEST DATA PLOTTED WEEK ENDINGi DECEMBER 28, 1983
1/ COMMERCIAL BANK TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN $100,000.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0

T

BORROWINGS FROM FEDERAL RESERVE BANKS
billions

AVERAGES OF DAILY FIGURES

OF DOLLARS

billions

<

I9M MILLIONS
NOV. 30
DEC. 7

3

17

1

880

13 29 12 26

9 23

9 23

6 20

4

18

1

15 29 IS 27

10 24

7 21

SEP
LATEST DATA PLOTTED WEEK ENDING: JANUARY 4,

5 10
OCT

2 16 30 14
DEC

JAN
1984

1984

BUSINESS LOANS 17
( COMMERCIAL AND INDUSTRIAL )

WEEKLY REPORT ING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
236
1

l

BILLIONS OF DOLLARS
236 ----------1------------- 1---------- 1----------

- DEC

6.1
4.2
1.0
1.6
1.9

,

982

1.2

; 29

r
rJ

_

\
1

1983
1983
1983
1983
1983

/V

V

H

111

198.

1

71

NOV. 23
30
DEC. 7
14
21
28
1 1

1111

111

111

JAN

FEB

9 23

NOV

DEC
1982

228

1

26,
28,
31,
27,
29.

L I _ L . ll

OCT.
SEP.
AUG.
JUL.
JUN.

in iJ

“
—
“
“
-

-L I

_ COMPOUNDED ANNUAL RA TES
_ OF CHANGE. AVERAGE 0 F
__THE FOUR WEEKS END IN G
DECEMBER 28, 1983 FR OM
_ THE FOUR WEEKS END ING:

11

ii

9 23

MAR

111
20

APR

-L.il..

1111

4 16

MAY

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 28,

111

1111

19 29 13 27 10 24

JUN
JUL
1983

AUG

.ii i
7 21

SEP

hIILL 10CB

~

215.480
215,941
216,535
216,412
216,412
218,494

“
_
_
-

1111........................................
5 19 2 16 30 14 28 11 25
NOV
DEC
JAN
1984

OCT

1983

1/ BUSINESS LOANS INCLUDE BAMCERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS OF 6750 MILLION OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

12
LARGE TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
285
NOV.

280

23

275
227.4

270
265
260
255
250
245

3 IT

I

15 20 12 26

JAN

0 23

FEB

1082

B 23

6 20

4 18

APR

MAY

I

IS 20 13 27 10 24

1983

LATEST DATA PLOTTED WEEK EHJING-. DECEMBER 28. 1083
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE.


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

7 21

5 10

2 18 30 14 28 II

25