Full text of U.S. Financial Data : November 29, 1985

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rederal Reserve Bank
t-ouis

DEC 0 4 1985

November 29, 1985
The growth rate of the adjusted monetary base has
fluctuated substantially over the past year. Changes in its growth
rate during this period have been associated with corresponding
changes in Ml growth, as the table below illustrates. For
example, after a moderate 6.2 percent base growth from the end
of November 1984 to mid-May 1985, base growth accelerated to
10.9 percent through early September. The faster base growth is
reflected in faster Ml growth over the same period, as Ml growth
increased from 9.3 percent to 17.8 percent. Since the beginning
of September, Ml growth has slowed to 5.4 percent, reflecting
reduced base growth over the same period.
Growth Rates of Monetary Aggregates
Period
11/26/84 - 5/13/85
5/13/85 -9/2/85
9/2/85 - 11/18/85

Adjusted
monetary base U
6.2%
10.9
5.5

1/
Ml
9.3%
17.8
5.4

1/ Seasonally adjusted compounded annual rates for four-week
averages ending dates shown
2/ Data for week ending two days later than dates shown
—Richard G. Sheehan

THE
FEDERAL
A RESERVE

HANK (it

or st. unis


Views expressed do not necessarily reflect official positions of the Federal Reserve System.
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Federal Reserve Bank of St. Louis

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
238

BILL IMS

236

231.5
231 .4
232.5
234.3

234

233.4

232
230
228
226
224

222
220
218
216
214

212
3 17 31

14 28 12 26

NOV
1984

0 23

0 20

6 20

3 17

FEB

DEC

MAR

APR

1

13 20

12 26 10 24

7 21

4 18

AUG

SEP

2 16 30 13 27

NOV

II

25

DEC

1985

LATEST DATA PLOTTED WEEK ENDINGt NOVEMBER 27, 1985
THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
RESERVE BANKS. CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS Of ALL
DEPOSITORY INSTITUTIONS) AND 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 AVAILABLE FROM THIS BANK.
RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
11/28/84

AVERAGE OF FOUR WEEKS ENDINGt

2/27/85

4/24/85

5/29/85

6/26/85

7/24/85

8/28/85

9/25/85

9.2
11.4
9.9
8.6
9.5
7.9
8.0

12.5
9.7
8.0
9.2
7.3
7.5

10.9
8. 1
9.7
7.2
7.4

3.6
7.0
4.8
5.5

8.7
5.1
5.9

5.9
6.8

3.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/24/85
5/29/85
6/26/85
7/24/85
8/28/85
9/25/85
10/30/85
11/27/85

7.7
7.7
9. 1
8.5
7.8
8.5
7.5
7.6


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK ( Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS

of dollars

630 pr

BJLL.1QNS
605.6
613.9
611.5
612. 1
613.8
616.6

1

15 20 12 20 10 24

7 21

4 18

4 18

JAN

FEB

MAR

I

15 20 IS 27

MAY

10 24

8 22

8 10

2

18 SO 14 28 II

OCT

JUN

25

0 23

NOV

LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 18. 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 AND TRAVELERS CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF FOUR WEEKS ENDING:
11/19/84

2/18/85

4/15/85

5/20/85

6/17/85

7/15/85

8/19/65

9/16/85

10.3
9.9
1 1 .6
12.0
12.3
13.0
1 1.8
11.2

8.8
12. 1
12.6
13.0
13.9
12. 1
11.3

14.9
14.8
14.8
15.7
13. 1
11.8

19.0
17.3
18.0
14.1
12.5

14.7
16.3
12.1
10.6

17.0
1 1.5
9.7

9.7
7.9

2.9

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/15/85
5/20/85
6/17/85
7/15/85
8/19/85
9/16/85
10/21/85
11/18/85


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PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

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

RATIO

2.8
RATIO

Ml MULTIPLIER

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 18,

1985

BILLIONS OF DOLLARS

ILL IONS OF DOLLARS
72

COMPOUNDED ANNUAL RATES
___OF CHANGE, AVERAGE OF
.
THE FOUR WEEKS ENDING
- NOVEMBER 18. 1985 FROM
THE FOUR WEEKS ENDING:
SEP.
- AUG.
___ JUL.
—JUN.
_ MAY
FEB.
—NOV.

16,1985
19,1985
15, 1985
17,1985
20, 1985
18, 1985
19, 1984

170

168

6.7
7.4
8.3
8.3
8.8
8.0

166

CURRENCY

7.5.

164

162

160

.1.985
OCT.

M

BILLIONS.
168.5

158

169.0
169.3
156

11 1.1 I I I I 1 II I
10 24

7 21

4

JAN

FEB

18

4 18

I

15 20 19 27 10 24

8 22

MAR

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 18.

5 10

2

16 90 14 28 11 23

OCT

0 29

NOV

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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PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL CHECKABLE DEPOS ITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
450

ILL I QMS

445

431.2
439. 1
436.3

440

438.0
441.1

=

435

NOV.

430
425
420
415

400
395
390
385

JAN

FEB

MAY

MAR

JUN

OCT

NOV

LATEST DATA PLOTTED WEEK ENDINGt NOVEMBER 18, 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 ENDINGi
11/19/84

2/18/85

4/15/85

5/20/85

6/17/85

7/15/85

8/19/85

9/16/85

1 1.9
1 1.2
13.4
13.9
14. 1
15. 1
13.5
12.6

9.6
13.9
14.5
14.8
16. 1
13.8
12.5

17. 1
17.2
16.8
18.3
14.8
13. 1

23.0
20.2
21.4
16.3
14.0

16.5
19. 1
13.7
11.5

19.9
12.6
10.2

1 1 .0
8.2

1.3

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
4/15/85
5/20/85
8/17/85
7/15/85
8/19/85
9/16/85
10/21/85
11/18/85


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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

PERCENT
14.0

13.0

CORPORATE
AAA BONDS

'RIME

RATE

10.0

90 DAY
CD'S

I I I I
5

IB

2 IS 30 14 28 II

DEC

25

JAN

8 22

8 22

5 19

3 17 31

M 28 12 26

9 23

JUN
JUL
1985

FEB

6 20

4 18

SEP

OCT

I

IS 29 IS 27

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt NOVEMBER 29,

1985
OCT.

4
1 1
18
25
NOV.
1
8
15
22
29 X
DEC.
6
13
20
27

1985.

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS nm

7.85
7.89
7.92
7.93
7.82
7.79
7.82
7.80
7.87

7.76
7.80
7.87
7.86
7.77
7.87
7.88
7.79
7.82

7.72
7.82
7.81
7.80
7.71
7.70
7.73
7.72
7.74

11.07
11.12
11.03
10.94
10.87
10.67
10.56
10.47
10.45

12.46
12.39
12.38
12.31
12.24
12.12
12.02
11 .91
11.86

9.33
9.25
9.12
8.95
8.76
8.68
8.60
8.37
N. A.

NOTE.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE.
K AVERAGES OF RATES AVAILABLE
MM BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA
N.A. - NOT AVAILABLE


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PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES
PERCENT

treasury’s

ICURITIES

FEDERAL
INDS RATE

3-M<
TREASUf

2 16 90 14 20 II

DEC

25

JAN

8 22

8 22

5 IB

9 IT 91

FEB

BILL

14 28 12 26

JUN

B 29

JUL

6 20

4 16

SEP

OCT

15 2B

19 27

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt NOVEMBER 29, 1985.

FEDERAL
FUNDS*#

1985
OCT.

4
25

DEC.

8
15
22
29 X
6
13
20
27

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL xx*

l-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.12
7.84
8.03
8. 14
7.89
8.30
(. SJ5
8.13
7.71

7.01
7.17
7.20
7.22
7.20
7.25
7.29
7.23
7.19

7.24
7.32
7.36
7.32
7.37
7.30
7.23
7.26
7.26

7.41
7.49
7.44
7.47
7.41
7.36
7.34
7.30
7.33

9.71
9.82
9.70
9.63
9.55
9.38
9.30
9.21
9.24

10.73
10.81
10.67
10.48
10.31
10.21
10.08
10.08

NOTEt CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H 15 RELEASE EXCLUDING I ong—tfru trpaqiirv
«
BY ™IS
TR^SR?E^^Y^£b^DJ^i bSTSfS&IMTs.
&^oM5Sf?D^oiEfK> °®ING ™° DAYS EARUEB THAN 0*™ SHOWN


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7

8
COMMERCIAL BANK
SMALL TIME DEPOSITS^
LARGE TIME DEPOSITS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
------ ----------- -------------- *1°

410 ---------- 1--------1---1985 BILLIONS.
OCT.

14

981 .fl
981.9

— NOV.
381 .0

SMALL TIME DEPOSITS

981.5

I I I I
LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 18, 1985
BILLIONS OF DOLLARS
----------------- ------------- 290

BILLIONS OF DOLLARS
290 ------------- 1---------- 1----1985
OCT.

1

14

BILLIONS
277.5
276.9
276.0
279.9
280.9
278.9

IS 20 12 26 10 24

LARGE TIME DEPOSITS

7 21

4 18

4 16

JAN

FEB

MAR

1

15

MAY

JUN

OCT

NOV

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 18, 1985
1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 6100,000
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL BANK
TOTAL TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF OOLLARS

795 ------------- 1---------- 1------

------ ------------------------- 795

BILLIONS
_

OCT.

14

784.5
783. I
785.4
787.1
785.8

I IS
OCT

» I! » 10 M 7 2|
NOV
DEC
JAN

4 IS
FEB

4 IS
MAR

I 19 29 19 21
APR
MAY

i is » ii a ii is a 29
OCT

1984
LATEST DATA PLOTTED WEEK ENDING.
TOTAL TIME

NOVEMBER IB.

NOV

1985

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:
11/19/84
2/18/85 4/15/85 5/20/85 6/17/85 7/15/85 8/19/85 9/16/85
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/15/85
5/20/85
6/17/85
7/15/85
8/19/85
9/16/85
10/21/85
11/18/85

1.4
2.8
2.0
1.3
0.6
1.0
1.6
1.7


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8.7
5.8
4.0
2.3
2.7
3.3
3.2

3.2
1.1
-0.4
0.5
1.7
1 .8

-3.4
-3.7
-1.7
0.2
0.6

-4.0
-1.3
0.9
1.3

-0.3
2.3
2.4

6 1
5ii

5.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

8.0

BILLIONS OF DOLLARS

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

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

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGt NOVEMBER 27. II
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

2.0

--- 1--- TT7-- 2-°

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

20 I
27 3767
ADJUSTMENT + SEASONAL BORROWINGS

OCT

NOV

DEC

JAN

FEB

MAR

APR

AUG

MAY

SEP

1984
LATEST DATA PLOTTED WEEK ENDINGt NOVEMBER 27. 1985

1/

$3,767 for 11/27/85


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MMDAS,

MMMFS AND SUPER NOWS

(BILLIONS OF DOLLARS, NOT SEASONALLY ADJUSTED)

MMDAs 1/
September

$320.5
321.1
322.8
324.1
324.3
325.2
327.0
328.4
329.4

23
30
7
14
21
28
4
11
18

October

November

MMMFs 2/

Super NOWs

$239.0
238.4
238.5
240.8
240.5
240.0
241.1
240.4
239.5

$59.2
58.7
61.1
61.0
61.0
60.1
61.7
62.5
62.5

1/ Money market deposit accounts at commercial banks
2/ Total money market mutual fund balances
V 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 REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
262 ------------ ,—
.------

BILLIONS OF DOLLARS
------------------------------- 262

_ COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING
- NOVEMBER 20. 1985 FROM
THE FOUR WE$KS ENDING;
” SEP.
AUG.
- JUL.
JUN.
- MAY
FEB.
_ NOV.

IS, 1985
21, 1985
17, 1985
19. 1985
22, 1985
20, 1985
21, 1984

0.1
0.3
0.5-0.9
-1.3
1.2

MILLIONS
OCT. 16
NOV.

OCT

NOV
1984

DEC

JAN

FEB

MAR

APR

MAY

6

4

AUG

2

251,208

IB

SEP

16 30 13 27 11 25

NOV

DEC

LATEST DATA PLOTTED WEEK ENDINGt N0VEM3ER 20, 1985
17 BUS IICSS LOANS INCLUDE BAMCERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BAMCS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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11