Full text of U.S. Financial Data : August 2, 1984

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RE
Federal Reserve Bank
> of St. Louis

AUGoe4J.S. Financial Data
August 2,1984
Super NOW is a term commonly used to describe a type of
interest-bearing checkable deposit account that depository
institutions may offer to individuals and nonprofit organizations.
Depository institutions may pay any interest rate they wish on a
Super NOW account, as long as the account has a balance of
$2,500 or more. Regular NOW accounts, which have no minimum
balance set by regulation, are subject to a ceiling interest rate
of 5.25 percent.
Balances in Super NOW accounts rose to $43 billion in the
second quarter of 1984, about 31 percent of other checkable
deposits (deposits other than demand deposits at commercial
banks). Shortly after they were first offered in January 1983,
Super NOW accounts grew rapidly, especially as a percent of
other checkable deposits (see table on back page). The share of
other checkable deposits held as Super NOW accounts has risen
much more slowly in 1984. Thus, the rise in market interest
rates since early this year appears to have had little effect on
the proportion of other checkable deposits held as Super NOW
accounts.
(continued on back page)
—R. Alton Gilbert

IIIHKYI

KESKKVK
llVNkot
ST. 11)1 IS

expressed do not necessarily reflect official positions of the Federal Reserve system.
Digitized forviews
FRASER
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
2'8 ------------- 1---------- 1—

12fil
JUN.
JUL.

27
'

BILLIONS OF DOLLARS
------ ------------------------ 218

BILLIONS
210.9
215. I

212.6
212.0
212. I

1

IS 20 IS 27

JUN

JUL

10 24

AUG

7 21

SEP
1985

OCT

NOV

DEC

LATEST DATA PLOTTED WEEK ENDING: AUGUST 1,

JAN

FEB

APR

MAY
1984

JUN

JUL

AUG

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 DEP0SIT6rY 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 BY THIS BANK. A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAIL­
ABLE FROM THIS BANK.
RECENT DATA ARE PRELIMINARY
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
8/3/83

11/2/83

7.5
8.0
8.3
8.9
8.3
8.7
9.0
8.5

7.8
8.5
9.3
8.4
8.9
9.3
8.5

1/4/84

2/1/84

10.7
11.3
9.3
9.9
10.3
9.2

1 1.6
8.9
9.7
10.2
8.9

2/29/84

4/4/84

8. 1
9.5
10.2
8.6

7.7
9.3
7.5

5/2/84

5/30/84

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/ 4/84
2/ 1/84
2/29/84
4/ 4/84
5/ 2/84
5/30/84
7/ 4/84
8/ 1/84


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Federal Reserve Bank of St. Louis

12.2
8.9

7.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )

=_

1984

530

A
/"\

/V
t

i

550

540

545

535

z
530
=
525
520

jJ

520

545. 1
546.3
544.7
546.8
546.6
544.9

TTTT

525

BILLIONS

I N I J IL L J IL L

535

|TTTT

540

“

18
25
2
9
16
23

TTTT

545

= JUN.
Z
— JUL.
Z

TTTT

550

BILLIONS OF DOLLARS
555

1

J IL L

BILLIONS OF DOLLARS
555 rn—

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

E

515

515
=
510

jin

510

E

505

505
z

z

E

=

500
495

500
495

?UI.
6 20
JUN

111
4 18
JUL

1111
111
1111
1 IS 29 12 20 10 24
AUG
SEP
OCT
1983

1 1 1
7 21
NOV

1 1 1
S 19
DEC

LATEST DATA PLOTTED WEEK ENDING: JULY 23,

II 1 1
1 1 1
111 Mil
111
2 10 SO IS 27 12 20 9 23 7 21
JAN
FEB
MAR
APR
MAY
1984

1 1 1
4 18
JUN

u?
l l l l
2 10 SO IS 2
JUL
AUG

1984

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 THENONBANK PUBLIC (EXCLUDING THOSE HELD BY FOREIGN BAhKS AND OFFICIAL INSTITUTIONS)
AND OTHER CHECKABLE DEPOSITS OF ALL DEPOSITORY INSTITUTIONS PLUS TRAVELERS' CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
7/25/83

10/24/83 12/26/83

AVERAGE OF FOUR WEEKS ENDING:

1/23/84

2/20/84

3/26/84

4/23/84

5/21/84

7.8
4.5
6.7
8.0
6.6

1.7
5.5
7.4
5.8

5.6
8.2
5.9

13.4
8.7

6.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/26/83
1/23/84
2/20/84
3/26/84
4/23/84
5/21/84
6/25/84
7/23/84

5.2
5.8
6.5
6.3
5.4
6.2
6.8
6.2


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

6.5
7.5
7.0
5.5
6.6
7.5
6.5

10. 1
8.2
5.6
7.2
8.2
6.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
2.9

1

RATIO
2.9

—

1984
JUN.
JU L.

RATI
JJ

11

4

il

2.7

2.8

Ml Ml LTIPLII■R

■V'

—

A

A
\

71 s/V

2.5

V

2.4

em

ui-

1 1 1 1

.±11. ILL] illL m lLLLL lI.11- 1.I..I1

LATEST DATA PLOTTED WEEK ENDING: JULY 23,
8ILL IONS OF DOLLARS
158
1
[
156
154
152
150

1

INI

156

A

-

A/

1: |

1984
1984
1984
1984
1984
1983
1983

8.

-

CURRE NCY

7.
7.
8.<

154
152

150

A

9.

-

-

-

-

1SM

-

billions

JUN .

s*
140
111

i

BILLIONS OF DOLLARS
158

—

“ COMPOUNDED ANNUAL R *TES
—OF CHANGE, AVERAGE
THE POUR WEEKS ENDI %
“ JULY 23. 1984 FROM
THE FOUR WEEKS ENDI SIG.
-MAY
21,
APR. 23,
— MAR. 26,
- FEB. 20,
JAN. 23.
,
1 .
_ JU L. 25 ,

ui. ..in. 11.1.1. 1.1.11

1984

1 1 1

e 20

4

JUN

JUL

lll-l.

18 IIS

AUG

ILL

ini ii. i

20 12 26 10 24

SEP
1983

OCT

ii i

ini in.

7 21

5 10

2 18 90 19

NOV

DEC

JAN

FEB

ILL
27 12 28
MAR

1111
0 29

APR

18
25
JUL .
2
9
16
23
i i i

nil
7 21

MAY
1984

4

18

JUN

154.1
154.6
—
154.1
155.0
155.1
_
155.3
1 i i i i 1n i!
2 18 90 19 27

JUL

AUG

LATEST DATA PLOTTED WEEK ENDING. JULY 23, 1984
1/ RATIO OF MONEY STOCK (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

144
142
140

TOTAL CHECKABLE DEPOSITS^
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

JL3M

BILLIONS OF DOLLARS

BILLIONS

— JUN

386.0
385.5
386.6
386.3
384.4

I

JUN

15 2S 12 26 10 24

JUL

7 21

5 IS

NOV

DEC

2

16 30 13 27

FEB

12 26

9 23

7 21

MAR

1983

1984

LATEST DATA PLOTTED WEEK ENDING: JULY 23, 1984
1/ DEMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITORY INSTITUTIONS

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
7/25/83

10/24/83 12/26/83

AVERAGE OF FOUR WEEKS ENDING:

1/23/B4

2/20/84

3/26/84

4/23/84

5/21/84

9.0
3.9
6.6
8.3
6.2

0.6
5. 1
7.6
5.2

4.0
7.9
4.7

15.1
8.5

5.4

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/26/83
1/23/84
2/20/84
3/26/84
4/23/84
5/21/84
6/25/84
7/23/84

3.4
3.8
4.8
5. 1
3.8
4.9
5.9
5.0


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

4.6
6.2
6.4
4.3
5.7
6.9
5.7

8.9
8. 1
4.4
6.5
8.0
6.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
15.0

CORP<

12.0

’RIME

MUNIC

10.0

3 17

I

13 SO 12 26

0 23

7 21

4

OCT

NOV

16

2

16 30 13 27

JAN

10 24

0 23

FEB

6 20

APR

1983

4

16

1

15 29 13 27

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: AUGUST 3.

1984
JUNE

1
8
15
22
29
JULY
6
13
20
27
AUG.
3 x
10
17
24
31

90 DAY
CD'S
11.31
11.09
11.13
11.46
11.67
11.75
11.60
11.54
11.47
11.41

30-DAY
COMMERCIAL
PAPER
10.32
10.56
10.75
10.98
11.07
11.11
11.13
11.03
10.98
11.03

90-DAY
BANKERS'
ACCEPTANCES
10.92
10.81
10.85
11.27
11.46
11.44
1 1.41
11.36
11.25
11.19

CORPORATE
Aaa BONDS
13.56
13.46
13.48
13.55
13.71
13.69
13.53
13.36
13.32
13. 16

10 24

MAY
1984

CORPORATE
Baa BONDS
15.04
14.95
15.01
15.06
15.20
15.29
15.16
15. 18
15.09
14.97

1984

MUNICIPAL
BONDS «x
1 1 .07
10.78
10.59
10.56
10.76
10.69
10.44
10.36
10. 19
N. A.

m AVERAGES OF RATES AVAILABLE.
MM BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
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

PERCENT
—i 15.0

14.0

5-Y
TREASURY S iCURITIES

TREASI

JUN

JUL

12 20 a 23
AUG
SEP
1983

7 21

4

OCT

NOV

18

2 IS SO 13 27 10 24

DEC

JAN

FEB

0 23

MAR

6 20

APR

4 18

MAY
1984

1

IS 29 13 27

JUN

10 24

JUL

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING; AUGUST 3, 1984

1984
JUNE

1
8
15
22
29
JULY
6
13
20
27
AUG.
3 X
10
17
24
31

FEDERAL
FUNDS XX
10.30
10.72
10.85
11.49
11.27
10.91
11.25
1 1.21
11.19
11.53

3-MONTH
TREASURY
BILL
9.76
9.81
9.95
9.91
9.81
9.92
10.04
10. 1 1
10.25
10.39

6-MONTH
TREASURY
BILL KKX
10.62
10.57
10.66
10.49
10.49
10.54
10.52
10.60
10.64
10.64

1-YEAR
TREASURY
BILL
10.94
10.80
10.87
10.97
11.09
1 1 .01
10.94
10.89
10.79
10.75

5-YEAR
TREASURY
SECURITIES
13.69
13.34
13.36
13.49
13.72
13.67
13.39
13.23
13.03
12.93

LONG-TERM
TREASURY
SECURITIES
13.71
13.38
13.35
13.41
13.62
13.65
13.31
13.21
13.02
12.84

« AVERAGES OF RATES AVAILABLE.

“

ptw i v»5Ut RATE

W«P8!S8WWP^PJi&KTHAN DATE

treasury biu'y^d^sKiscountRb^1.are computed by the federal reserve


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

SHOWN.
BANK OF ST. LOUIS.

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

SMALL TIME DEPOSITS^
COMMERCIAL BANK SAVINGS DEPOSITS
BILLIONS OF DOLLARS
390 _
l
l

=
380

-

-JUL.
jjjj

365.7
367.0
368.4

E

16

371 .C
372.2

380

E
E

TTTT'

z

=

E
z
E

E
320

E
E

TTTT

300

360
350

330

310

370

SMALL TIME DEPOSI TS

J ill

340

18
25
2

23

360
350

BILLIONS OF DOLLARS
390

T

1984
JUN.

Z

370

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

340
330
320
310
300

111

1 II 1

111

mi

111

in mi i n jjj-

1111

m

1 1 1

mi

j

i i.i.

LATEST DATA PLOTTED WEEK ENDINGt JULY 23, 1984

BILLIONS OF DOLLARS
160

BILLIONS OF DOLLARS
1984
JUN.

BILLIONS

18

128.2
128.0
127.8

128.0
127.5
127.2

145
SAVINGS DEPOSITS

I I I I
6 20

4

18

JUN

JUL

I

IS 29 12 26 10 24

7 21

5 19

NOV

DEC

2

1/ COMMERCIAL BANK TIME DEPOSITS


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

13 27

FEB

1983
LATEST DATA PLOTTED WEEK ENDING; JULY 23,

16 30

12 26

MAR

9 23

7 21

MAY
1984

4

18

2

IB 30 13 27

JUN

1984

ISSUED IN DENOMINATIONS OF LESS THAN 8100,000.

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL TIME DEPOS I TS 1/
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
760 ---------- ,---------- 1--------

-

IMA

BILLIONS

r- JUN- if
I

ILL IONS OF DOLLARS
760

—1------------- ----------

745.7

JUL.

748.0
750.7
752.9
755.7

6 20

4 18

I

JUN

JUL

AUG

IS 20

12 26 10 24

SEP
1983

OCT

7 21

S 10

NOV

DEC

2

16 SO IS 27

JAN

FEB

12 26

MAR

0 23

7 21

4

18

2

16 30

13 27

APR
MAY
1984

LATEST DATA PLOTTED WEEK ENDING*. JULY 23, 1984
1/ SAVINGS DEPOSITS PLUS SMALL TIME DEPOSITS PLUS LARGE TIME DEPOSITS

TOTAL TIME DEPOS1TS
COMPOUNDED ANNUAL RATES OF CHANGE ,
7/23/83

10/24/83 12/26/83

AVERAGE OF FOUR WEEKS ENDING:

1/23/84

2/20/84

3/26/84

4/23/84

5/21/84

1.2
3.5
6.6
9.9
1 1.2

7.0
10.2
13.3
14.2

13.0
16.3
16.8

19.9
19.5

20.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/26/83
1/23/84
2/20/84
3/26/84
4/23/84
5/21/84
6/25/84
7/23/84

8.2
6.7
5.2
5.3
5.6
6.7
8.2
8.9


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

6.0
3.5
4.0
4.7
6.3
8.4
9.4

-2.4
0.6
2.5
5.2
8.2
9.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

LARGE TIME DEPOSITS

ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

billions of dollars

billions of dollars

BILLIONS
JUN.

18

6 20

4

JUN

JUL

18

248.3
250.7
251.8
252.9
254.4

I

15 29

12 26 10 24

7 21

5 19

NOV

DEC

2 16 50 IS 27 12 26

FEB

MAR

1983
LATEST DATA PLOTTED WEEK ENDINGt JULY 23.

9 23

7 21

MAY
1984

4

18

2

18 SO

13 27

JUN

1984

TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 OR MORE.

MMDAs, MMMFs and SUPER NOWs
(billions of dollars, not seasonally adjusted)
MMDAs V
June
July

11
18
25
2
9
16
23

$395.3
393.4
390.5
390.2
390.8
389.9
388.3

MMMFs 2 /
$191.3
191.4
190.5
191.0
191.0
192.8
193.3

SUPER NOWs 3/
$43.8
43.5
42.5
43.0
44.4
43.8
43.3

1/ Money market deposit accounts at all depository institutions, effective 12/14/82
27 Total money market mutual fund balances
J/ 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


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

BILLIONS

of dollars

8.0

lSffli MILLIONS
JUN. 27
4

2973
4845

7.0

18
25
1

5891
6849
7460

6.0
5.0

4.0

3.0

2.0

1

15 29 IS 27

10 24

7 21

S 19

SEP

OCT

2 15 90 14 28 II

DEC

25

8 22

JAN

7 21

4

MAR

APR

18

2 16 90 13 27

JUN

11

29

6 22

JUL

LATEST DATA PLOTTED WEEK ENDING; AUGUST 1, 1984

BUSINESS LOANS

y

( COMMERCIAL AND INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
-

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
JULY 18. 1984 FROM
THE FOUR WEEKS ENDING;

~
I
_

MAY
APR.
MAR.
FEB.
JAN.
OCT.
JUL.

16,
18,
21,
15,
18,
19,
20,

1984
1984
1984
1984
1984
1983
1983

15.7
21.3
22.0
25.6
23.3
17.7

BILLIONS OF DOLLARS
248

244

240

236

'

232

228

224

220
JUN. 13

242,566

216

212
II I I 1 1 I i I I I I I I
29 IS 27 10 24

7 21

S 19

SEP

OCT

2 16 90 14 28 11

DEC

LATEST DATA PLOTTED WEEK ENDING; JULY 18,

25

6 22

JAN

7 21

4

MAR

APR

18

2

16 90

19 27

JUN

II

25

8 22

JUL

1984

1/ BUSINESS LOANS INCLUDE BAMBERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

Super NOW Accounts at all Depository Institutions
(not seasonally adjusted)

Period

Amount
(billions of dollars)

1983 I
II

in
IV
1984 I
II
J

[J

$22.3
32.0
35.4
38.6
41.0
43.0

As a
percent of other
checkable deposits!/
20.3%
26.7
28.6
29.9
30.9
31.3

Other checkable deposits include NOW and ATS accounts,
credit union share drafts, and demand deposits at thrift
institutions.


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Federal Reserve Bank of St. Louis