Full text of U.S. Financial Data : April 4, 1985

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rHI

redea* f lasarve Bank
of

flPR 0 9 J985

nancial Data
April 4,1985

During the first two months of 1985, Ml grew at a 12.2
percent rate, substantially above the target range of 4 to 7
percent for 1985. This expansion of the money supply reflected
a 26.4 percent rate of growth for other checkable deposits,
compared to growth rates of 7.4 percent for currency and 7.7
percent for demand deposits. Other checkable deposits comprise
about 27 percent of Ml. This disparate pattern of growth in the
components of Ml is not particularly unusual; for example, from
December 1983 to December 1984, other checkables increased at
an 11.1 percent rate, compared to a 6.9 percent rate for
currency and a 2.1 percent rate for demand deposits.
The most rapidly growing component of other checkable
deposits during 1985 has been Super NOW accounts. From the
four weeks ending December 31, 1984, to the four weeks ending
March 25, 1985, the ratio of Super NOWs to other checkables
grew from 33 percent to 35 percent. Although this represents
the continuation of a trend that has existed since the
introduction of Super NOWs in January 1983, the change in the
composition of other checkable deposits has occurred at a faster
rate during the early part of 1985 than it did in 1984. This is
due, at least in part, to the recent reduction in the minimum
denomination on Super NOWs from $2,500 to $1,000.

views expressed do not necessarily

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

—A. Steven Holland

reflect official positions of the Federal Reserve system.

—w-

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
228
226

221.0
224

220.8

220.4
223.7

222
220
218
216
214
212

210
208
206
204
202

J I I 1 I I I
I

IS 29 14 28 11

25

S 25

6 20

4 l«

JUN

JUL

I

15 20 12 20 10 24

7 21

8 19

NOV

DEC

2 16 30 IS 27

FEB

IS 27 10 24

MAR

APR

LATEST DATA PLOTTED WEEK ENDING: APRIL 3. 1085
THE
SOURCE
BAMC. A DETAILED DESCRIPTION OF THE

MONETARY BASE
jumn

: COMPUTED BY THIS
IS AVAILABLE FROM THIS BANK.

RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
4/4/84

7/4/84

9/5/84

AVERAGE OF FOUR WEEKS ENDING:

10/3/84 10/31/84

12/5/84

1/2/85

2/8/85

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/ 5/84
10/ 3/84
10/31/84
12/ 5/84
1/ 2/85
2/ 8/85
3/ 8/85
4/ 3/85

6.0
6.8
5.3
5.9
6.2
6.0
6.7
6.6


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Federal Reserve Bank of St. Louis

4.4
2.3
3.9
4.7
4.6
5.7
5.7

3.4

%.7

Q.4
6.0
7.3
7. 1

3.3
4.9
4.6
6.5
6.4

9.2
7.5
9.0
8.5

6.3
8.8
8.1

8.8
7.9

10 2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

” FEB.
Z

MAR

BILLIONS OF DOLLARS
580

575

569.0
572.8
572.6
570.6
570.0
572.8

570

565

560

555

550

545

540

535

530

S 20

5 10

FEB

MAR

2 16 SO 14

MAY

JUN

AUG

SEP

JAN

FEB

MAR

LATEST DATA PLOTTED WEEK ENDINGt MARCH 25, 1985
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
Ml IS THE SUM OF CURRENCY HELD BY THE NONBANK PUBLIC, DEMAND DEPOSITS. OTHER CHECKABLE
DEPOSITS AM) TRAVELERS CHECKS.

MONEY STOCK (Ml)
COMPOUNDED ANNUAL RATES OF CHANGE
3/26/84

6/25/84

8/27/84

5. 1
5.3
3.6
4.5
4.8
5.5
6.3
6.3

3.0
0.7
2.7
3.4
4.6
5.8
5.9

-0.2
3.5
4.4
5.9
7.3
7.3

AVERAGE OF FOUR WEEKS ENDINGt

9/24/84 10/22/84 11/26/84 12/24/84

1/28/85

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
8/27/84
9/24/84
10/22/84
11/26/84
12/24/84
1/28/85
2/25/85
3/25/85


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

2.3
3.8
5.8
7.5
7.4

8.6
9.6
10.8
10.1

9.4
11.2
10.2

13.1
11.2

11.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY MULTIPLIERi/
CURRENCY COMPONENT OF MONEY STOCK v
RATIO
2.9

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
2.9

------- 1------- 1-------- 1—
1985

RATIO

Ml Ml LTIPL IER

■zr*'

L

\T

y

V" y^ y'

S' ./

2.6

s

2.5

2.5

2.4

hi

1111

iiJ--LLL

1111

111

M11

111

111

11 ii.

111

111

i 1 I

-LLLL

LATEST DATA PLOTTED WEEK ENDING* MARCH 25. 1985
BILLIONS OF DOLLARS
166

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES
-----OF CHANGE. AVERAGE OF

164

THE FOUR WEEKS ENDING

-__MARCH 25, 1985 FROM
___THE FOUR WEEKS ENDING*
-

JAN.
DEC.
—NOV.
_ OCT.
SEP.
—JUN.
_ MAR.

28,
24,
26
22
24
25
26

1985
-------

162

8.0
" “

160
CURRENCY

1984

158
156
154

iaas.

FEB.

18

MAR.

152

billions.
160.4
161.0
161.1
161.1
161.5

148

I I I 1 III I I I I 1 1 Li i.
6 20

5 19

2 16 30 14 26 II 26

MAY

6 23

fl 20

3 17

1

13 29 12 26 10 24

7 21

4 16

4 16

JAN

JUN

FEB

MAR

I

IS 29

LATEST DATA PLOTTED WEEK ENDING, MARCH 25, 1985
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

150

PREPARED BY FEDERAL RESERVE BAfK OF ST. LOUIS

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

OF dollars

billions

1985
_ FEB.

6 20

5 10

FEB

MAR

billions of

dollars

BILLIONS.
403.3
406.5
405.9
404.3
403.6
406.2

I

2 16 30 14 28 II
MAY
JUN

AUG

15 29 12 26 10 24

7 21

JAN

SEP

FEB

MAR

LATEST DATA PLOTTED WEEK ENDING* MARCH 25, 1985
TOTAL CHECKABLE DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL
DEPOSITORY INSTITUTIONS.

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
3/26/84

6/25/84

8/27/84

4. 1
4.5
2.5
3.7
4.1
5. 1
6.2
6.2

1 .6
-1 .2
1 .6
2.4
4.1
5.7
5.8

9/24/84 10/22/84 11/26/84 12/24/84

-2.0
3.0
4.0
6.1
7.9
7.8

1/28/S5

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
8/27/84
9/24/84
10/22/84
11/26/84
12/24/84
1/28/85
2/25/85
3/25/85


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

1.6
3.3
6.0
8.2
8. 1

9.6
1 1 .0
12.6
11.6

10.6
13.0
11 .6

15.6
13.0

12.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

PERCENT
15.0

MUNICIPAL

1-LLi I I 1 I
3 17

2 10 30 IS 27

APR

1

25

8 22

0 20

MAY

3 17 31

14 28 12 26

SEP

0

OCT

15

DEC

JAN

I

15 29 12 28

FEB

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: APRIL 5. 1985.

1985

FEB.

MAR.

APR.

1
6
15
22
1
8
15
22
29
5 X
12
19
26

90 DAY
CD'S

30-DAY
COtAERCIAL
PAPER

90-DAY
BANKERS*
ACCEPTANCES

8.23
8.56
8.64
8.77
8.91
9.22
9.04
9.01
8.82
8.80

8.14
8.40
8.46
8.50
8.55
8.80
8.77
8.72
8.67
8.66

8.12
8.40
8.48
8.67
8.82
9.12
8.92
8.84
8.69
8.67

CORPORATE
AAA BONDS
1 1 .85
11.95
12.01
12.21
12.47
12.55
12.58
12.64
12.50
12.43

CORPORATE
Bm BONDS
13.13
13.14
13.13
13.21
13.51
13.63
13.70
13.75
13.68
13.63

MUNICIPAL
BONDS KB
9.37
9.52
9.64
9.71
9.71
9.75
9.76
9.82
9.75
N.A.

VSkJBWJmSmiSOF 20 MUNICIPAL BONDS, THURSDAY DATA
TteBOARDOF SOV™ORS’ H-,s
BOND BUYER'S AVERAGE IWEX

m

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

PERCENT

PERCENT
15.0

15.0

ITIES

TREASURY

3 17

2

IS 30 13 27 11

APR

25

8 22

8 20

MAY

3 17 31

14 28 12 28

SEP

0 23

7 21

4 18

I

DEC

OCT

JAN

FEB

1984

13

I

15 20 12 26

1985

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: APRIL 5, 1985.

1985
FEB.

1
8
15
22
MAR.
1
8
15
22
29
APR.
5 X
12
19
26

FEDERAL
FUNDSm

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL an

l-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.45
8.59
8.44
8.57
8.40
8.63
8.52
8.75
8.38
8.68

7.92
8. 17
8.21
8.31
8.47
8.69
8.55
6.51
8.29
8. 18

7.97
8.30
8.28
8.25
8.53
8.98
8.79
9.04
8.86
8.55

8.35
8.47
8.47
8.58
8.84
9.09
9.09
9. 15
8.90
8.78

10.76
10.99
11.00
11.17
11.47
1 1.51
11.54
11.60
11.43
1 1.31

1 1.23
11.40
11.45
11.65
11.91
11 .95
11.92
11.98
11.84
11.78

NOTE:
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 RELEASE EXCLUDING LONG-TERM TREASURY
SECURjTjES_WHICH ARE COMPUTED BY THIS BANK. TREASURY BILL YIELDS ARE ON A DISCOUNT BASIS.
JUWfcRAGES OF ^ RATES,Av£lkA^E
______ »AY AVERAGES FOR WEEK ENDING TWO DAYS EARLIER THAN DATE SHOWN
AUCTION AVERAGE (DISCOUNT)


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
COMMERCIAL BANK
SMALL TIME DEPOS I TS if
LARGE TIME DEPOS ITS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

.1955
FEB.

BILLIONS OF DOLLARS

BILLIONS

18
381.1
381.6
362.)
382.9

SMALL TIME DEPOSITS

LATEST DATA PLOTTED WEEK ENDINGi MARCH 25,

1985

BILLIONS OF DOLLARS

.1.95.5
FEB.
— MAR.

18
25

BILLIONS OF DOLLARS
280

BILLIONS
275
266.4
266.5
267.7
269.5

270

LARGE TIME DEPOSITS

265
260
255
250
245
240
235

6 20

3 10

FEB

MAP

2 10 30 14 28 11

25

0 23

0 20
AUG

3 17
SEP

1

15 20 12 20 10 24

7 21
FEB

MAR

1984
LATEST DATA PLOTTED WEEK ENDINGi MARCH 25,

1985

1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000
2/ TIME DEPOSITS ISSUED


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Federal Reserve Bank of St. Louis

IN DENOMINATIONS OF 8100,000 OR MORE

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL BANK
TOTAL TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
799 ---------- 1---------- 1--------

BILLIONS OF DOLLARS
------ ------------------------- 790

768.0
768.7
769. I
769.9
771 .8
773.4

0 20

9 10

FEB

MAR

0 29

2 10 90 14 28 II

MAY

6 20

9 17

AUG

JUN

SEP

I

19 20 12 20 10 24

7 21

4 10

4 10

JAN

FEB

MAR

1

19 20

LATEST DATA PLOTTED WEEK ENDING* MARCH 25. 1985
TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS. SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF FOUR WEEKS ENDING*.
3/28/84

6/25/84

8/27/84

14.0
12.9
12.6
1 l .0
10.1
8.1
7.2
7.1

9.1
9.4
7.7
6.9
4.7
3.9
4.1

9/24/84 10/22/84 11/28/84 12/24/84

8.9
6.2
5.4
2.6
1 .8
2.4

1/28/85

TO THE AVERAGE
OF FOUR WEEKS
ENDING*.
8/27/84
9/24/84
10/22/84
11/26/84
12/24/84
1/28/85
2/25/85
3/25/85


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

5.7
4.8
1 .6
0.9
1 .7

2.3
-0.8
-1.2
0.2

-2.4
-2.4
-0.4

-4.5
-1.3

1 .9

PREPARED BY FEDERAL RESERVE BAItt OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

10.0 ------------ 1--------- r—
ISfiS

--- ----- -----

MILLlMff.

27

1354

13
20

10.0

TOTAL BORROWINGS

2<
1681

LATEST DATA PLOTTED WEEK ENDING. APRIL 3, 1985
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

ADJUSTMENT + SEASONAL BORROWINGS

Hill U 1 1.1-L11

19 29 14 28 II 25
MAR
APR

9 29

6 20
JUN

4 18
JUL

llllllll 1-U-L

1 19 29 12 28 10 24

7 21
NOV

9 19
DEC

2 18 90 19 27 19 27 10 24

LATEST DATA PLOTTED WEEK ENDING. APRIL 3. 1985
1/ 94.582 FOR 5/IO/84| 93.730 FOR 5/23/84; 92.989 FOR 5/30/84; 93.120 FOR 6/6/84


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MMDAS,

MMMFS AND SUPER NOWS

(BILLIONS OF DOLLARS, NOT SEASONALLY ADJUSTED)

MMDAs 1/
January
February

1283.1
285.8
288.1
289.5
290.7
292.6
293.5
293.9
294.1

28
4
11
18
25
4
ii
18
25

Ma rch

MMMFs 2/

Super NOWs 3/

$240.1
238.0
238.4
237.2
236.8
238.5
238.0
236.2
237.2

$49.8
51.2
52.0
51.7
51.9
53.0
53.3
53.0
52.8

1/ Money market deposit accounts at commercial banks, effective 12/14/82
2/ Total money market mutual fund balances
3/ NOW accounts at all depository institutions, requiring a $1,000 minimum balance
and eligible to earn more than 5.25 percent, effective 1/5/85

BUSINESS LOANS u

( COMMERCIAL AND INDUSTRIAL )

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

BILLIONS OF DOLLARS
_
_

BILLIONS OF DOLLARS
---------------------- --------- n 264

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
the four Weeks ending
■
MARCH 20, 1985 FROM
THE FOUR WEEKS ENDINGt

“ JAN.
- DEC.
“ NOV.
“OCT.
- SEP.
- JUN.
- MAR.

23,
19,
21,
17,
19.
20.
21,

1985
1984
1984
1984
1984
1984
1984

16.9
8.7
6.8
8.6
8.2
6.9
11.0

'

*
-

MILLIONS
FEB. 13
253,541
MAR.

6
257,347

I

19 29 M 28 11 25
MAR
APR

9

8 20

4 18

I

19 29 12 28 10 24

LATEST DATA PLOTTED WEEK END INGt MARCH 20,

7 21

9 19

NOV

DEC

1-L11.1 1 1 I 1 I I I 11
2

16 30 13 27 15 27 10 24
FEB

MAR

APR

1965

1/ BUSINESS LOANS INCLUDE BANKERS' 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