Full text of U.S. Financial Data : January 8, 1987

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

RESEARCH UBRARY

nancial Data
JAN 1 2 1987

January 8, 1987

From January 1 to October 29, 1986, business loans at large commercial
banks showed virtually no growth, fluctuating between $256.0 and $260.3 billion
(see page 11). Since then, however, business loans have increased dramatically,
rising from $258.3 billion to $274.6 billion. Business loans have not increased
this rapidly since early 1984. Furthermore, their growth does not reflect a typical
end-of-the-year pattern, since the series is seasonally adjusted.
While the recent growth in business loans has been unusual, it is too early
to attribute this surge unambiguously to any single factor. The increase in loan
demand may have been prompted by an increase in economic growth. If so,
business loans should continue to grow in early 1987. Alternatively, the tax
reform act may have encouraged a surge of commercial borrowing in late 1986
to take advantage of the old tax code. In this case, the rapid growth in business
loans should stop. Thus, it will be necessary to wait until business loan numbers
for early 1987 are available to gain a better perspective on the cause for this
growth.
—Richard G. Sheehan

views expressed do not necessarily reflect official positions of the Federal Reserve System.


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
262 m—i—i—

254

DEC.

“

_

250.3
252.0
252.1
254.9
254.0
257.9

j

“

7

J

i

19
3
17
31

i..i

_

BILLIONS

ii

1BBZ.

- OCT. 22
258 - NOV.
5

i

-

BILLIONS OF DOLLARS
262

250

i i i

_

1 111

_
>/

m i TTT

m i

J

246

238

238

m i

----- —J

T7
!lll
6 20

i 11
1111 111 111 INI
4 18 I 18 20 12 20 12 20 9 23

NOV
DEC
1985

JAN

FEB

MAR

APR

111

111

7 21

4 10

MAY

JUN

1111

■ 11

111

1111

2 16 90 19 27 10 24 8 22

JUL
1986

AUO

SEP

OCT

111

1111 J-LL

5 19

9 17 91 14 28

NOV

DEC

JAN
1987

LATEST PLOTTED RESERVE MAINTENANCE PERIOD END INOi DECEMBER 31. 1986

TUT I

—wt» w
IE IS AVAILABLE FROM THIS BANK.

RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE.
AVERAGE OF TWO MAINTENANCE PERIODS ENDINGt

1/1/86
PERI

mr
6/ 4/86
7/ 2/86
7/30/86
8/27/86
9/24/86
11/ 6/86
12/ 3/86
12/31/86

8.4
8.1
8.3
7.9
8.0
8.2
8.6
8.9


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

3/26/86

6/4/86

7/2/«e

7/30/86

8/27/86

9/24/66

8.5
8.8
8.1
8.2
8.4
8.9
9.3

8.0
6.9
7.4
8.0
8.6
9.3

7.4
7.9
8.4
9.1
9.8

6.8
7.9
8.9
9.8

9.2
10.1
10.9

10.7
11.5

11/5/86

13.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
750 pr--------1------------- 1------

NOV.

BILLIONS OF DOLLARS

24

741.0

4 1»

2 16 90 IS 27 10 24 10 24

JAN

FEB

7 21

5 10

2 16 90 14 26 11 29

APR

MAY

JUL

6 22

AUG

6 20

9 17

OCT

NOV

I

19 29 12 26

LATEST DATA PLOTTED WEEK ENDING. DECEMBER 29, 1986
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
DEPolITS^AND^TRAVELERS^CHECKS? BY

PUBUC’

DEP08,TS‘ 0THER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
9/91/86

5/26/86

6/90/86

7/28/86

18.8
18.5
19.2
17.7
17.4
18.1
19.1

16.9
18.5
16.5
16.3
17.4
18.8

19.8
16.7
16.3
17.7
19.3

16.2
15.8
17.6
19.6

9/1/86

9/29/86 10/27/86

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/26/86
6/90/86
7/28/86
9/ 1/86
9/29/86
10/27/86
12/ 1/86
12/29/86

12.8
13.5
14.0
15. 1
14.5
14.6
15.4
16.3


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

12.4
16.2
19. 1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY MULTIPLIERi/
CURRENCY COMPONENT OF MONEY STOCK v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
1986

RATIO

Ml MULTIPLIER

4 18

2 16 90 13 27 10 24 10 24

JAN

FEB

7 21

5 10

APR

MAY

2 16 90 14 28 11 25

8 22

6 20

9 17

OCT

NOV

I

10 20 12 28

LATEST DATA PLOTTED TO WEEKS ENDING* DECEMBER 20, 1086
BILLIONS OF DOLLARS
166

BILLIONS OF DOLLARS
COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR *EEKS ENDING
DECEMBER 29*1986 FROM

164
182

180
iR.
DEC.

CURRENCY

31
30,

178
176
174

lfififi BILLlflfl
172

170
li l 1
4 16

2 16 90 13 27 10 24 10 24

JAN

7 21

5 10

2 18 90 14 28 II

JUL

FEB

AUG

8 22

I I I I I III. 1.Lil­
8 20

3 17

OCT

NOV

1

15 20 12 20

LATEST DATA PLOTTED WEEK ENDING* DECEMBER 20, 1006
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

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BIUIONS OF DOLLARS

1SBft
NOV.
DEC

24
*

BILLIONS OF DOLLARS
560

BILLIONS

550

532.5
532.2
533.1
541.4

540
530
520
510
500
400
480
470
460
450

4 18

2 16 30 13 27 10 24 10 24

JAN

FEB

7 21

APR

18

2 16 30 14 28 11 25

MAY

JUL

6 22

AUG

6 20

3 17

OCT

NOV

15 28 12 26

LATEST DATA PLOTTED WEEK ENDING. DECEMBER 20, 1086
TOTAL(CHECKABLE(DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING.
12/30/85

3/31/86

5/26/86

6/30/86

7/28/86

14.0
15.8
16.6
17.0
17.3
17.3
18.4
19.8

23.9
23.5
24.0
22.1
21.4
22.4
23.9

20.9
22.7
20.2
19.6
21.3
23.3

24.2
20.3
19.5
21.6
23.9

19.5
18.7
21.4
24.2

0/1/86

0/20/86 10/27/86

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
5/26/86
6/30/86
7/28/86
0/ 1/86
0/20/86
10/27/86
12/ 1/86
12/20/86


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

14.4
19.8
23.8

23.4
27.6

32.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

percent

MUNICIPAL
BONDS

I I I I
I

IS 29 19 27 10 24

7 21

7 21

4 IS

FEB

MAR

APR

2 18 90 19 27 II

JUN

8 22

8 19

9 17 91

14 28 12 28

NOV

JUL

9

DEC

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. JANUARY 9, 1987.

30-DAY
1987
NOV.

7
M
21
28
DEC.
5
12
19
26
JAN.
2
9 *
16
23
30

90 DAY
CD'S

“THl*

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS MM

5.69
5.81
5.80
5.76
5.83
5.88
6.08
6.27
6.22
5.94

5.77
5.83
5.87
5.88
6.02
6.03
6.59
7.39
7.31
6.12

5.61
5.73
5.71
5.72
5.75
5.84
6.04
6.24
6. 10
5.78

8.73
8.77
8.65
8.55
8.52
8.48
8.51
8.47
8.49
8.43

10.09
10. 12
10.04
9.99
9.99
9.97
9.97
9,98
9.97
9.88

6.94
6.92
6.78
6.74
6.77
6.94
6.92
6.83
6.85
N. A.

NOTE. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE.
«ABONDGBUYER'SAAvIraGEII|NDEX 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

PERCENT

PERCENT

n.o

10.0

5-YEAR
TREASURY SECURITIES
8.0

DISCOUNT RATE
7.0

6.0
TREASl

5.0

I

18 29 19 27 10 24

7 21

7 21

4 18

FEB

MAR

APR

2 18 SO IS 27 II 25

8 22

8 10

JUN JUL
1986

1985

3 17 SI

14 28 12 26

NOV

0

DEC
1987

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. JANUARY 9, 1987.

1087
NOV.

7
14
21
28
DEC.
5
12
19
26
JAN.
2
9 *
16
23
30

FEDERAL
FUNDS KX

3-MONTH
TREASURY
BILL

B-MONTH
TREASURY
BILL naai

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

6.02
5.98
6. 13
6.00
6.25
5.97
6.30
6.31
9.20
7.62

5.26
5.41
5.36
5.39
5.42
5.49
5.57
5.56
5.65
5.50

5.30
5.54
5.44
5.39
5.46
5.50
5.58
5.56
5.68
5.55

5.45
5.56
5.47
5.45
5.47
5.51
5.57
5.59
5.64
5.51

6.76
6.85
6.75
6.66
6.61
6.62
6.68
6.69
6.79
6.67

7.88
7.95
7.75
7.72
7.65
7.68
7.70
7.63
7.76
7.61

NOTE. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE EXCLUDING LONG-TERM TREASURY
* AWM*fl£U5iT!fSLSHiSi,..APf. COMPUTED BY THIS BANK. TREASURY BILL YIELDS ARE ON A DISCOUNT BASIS
* AVtnACto Or RATES AVAILABLE

s.n^°oftYA«s5sr?D,iMK. ao,N° ™


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

bays

eabli“

than

°*te

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

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

BILLIONS OF DOLLARS
1986

BILLIONS OF DOLLARS
415

BILLIONS

361.9
SMALL TIME DEPOSITS

375

LATEST DATA PLOTTED KEEK ENDING* DECEMBER 29. I
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

1M BILL! QMS
281.1

280.4

15

281

283.0

LARGE TIME DEPOSITS

4 18

2 16 30 19 27 10 24 10 24

JAN

FEB

7 21

5 10

APR

MAY

2 16 30 14 28 II 25

JUL

AUG

8 22

6 20

9 17

OCT

NOV

LATEST DATA PLOTTED WEEK ENDING* DECEMBER 29. 1986
1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 OR MORE


http://fraser.stlouisfed.org
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

NOV.

24

BILLIONS OF DOLLARS
815

795.9
810

805

800

795

790

4 It

2 It 90 19 27 10 24 10 24

JAN

FEB

7 21
APR

5 10
MAY

2 It 90 14 20 11

JUL

LATEST DATA PLOTTED WEEK ENDING. DECEMBER 29,

t 22

AUG

t 20

9 17

OCT

NOV

1

15 20 12 20

1986

TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE Til

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
12/30/85

3/31/86

5/26/86

6/30/86

7/28/86

2.7
1.5
1.4
1.4
1.5
0.7
1.1
1.7

-4.2
-3.1
-2.0
-1.7
-2.1
-1.1
-0.2

-1.7
-0.5
-0.4
-1.2
-0.1
0.9

1.3
0.8
-0.4
0.7
1.8

0.9
-0.8
0.7
2.1

9/1/86

9/29/86 10/27/86

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/26/86
6/30/86
7/28/86
9/ 1/86
9/29/86
10/27/86
12/ 1/86
12/29/86


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

-2.3
0.3
2.1

0.6
2.9

6.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

ILL IONS OF DOLLARS

BILLIONS OF DOLLARS
----- 1------------1--------- 6.0

31

TOTAL BORROWINGS

1i

I I I I
LATEST DATA PLOTTED KEEK ENDING. JANUARY 7. 1987
BILLIONS OF DOLLARS
2.5

BILLIONS OF DOLLARS
2.5
1
1

1851 lit LL IONS.
DEC.
3
271
10
77
'Z 22$
3
1548
483
J/IN.

1
1

-

_
-

-

r

1

rr

IT T

i

___

ADJL STMENT + SEA 50NAL
B0RR01 1NGS

1.0

0.5

T

f

V
JAN

FEB

MAR

\T A Y

V

111

7 21

1 1 1 1 1 1 1
i u... 1.11.1
4 It 2 16 30 13 27 10 24 6 22

APR

MAY

JUN

1 1 1 J-I-LI.. J_LL JJJ. 1 1 1 1
0.0 _LLL
6 *0
4 IS 1 18 N 12 26 12 26 6 23
NOV
DEC
1985

JL
'V

JUL
1086

AUG

SEP

OCT

LL V

i

III!

1.0

0.5

_LLL it 11 -LLL 0.0
3 19 3 17 31 14 26
NOV

DEC

JAN
1987

LATEST DATA PLOTTED WEEK ENDING. JANUARY 7, 1987
1/ 63.787 FOR 11/27/85


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
5 ILL IONS OF DOLLARS

NOT SEASONALLY ADJUSTED

BILLIONS of dollars
95

- NOV.
- DEC.
90

65

80

6 20

4 10

NOV

DEC

1

15 20 12 20 12 20

0 25

7 21

4 10

2 10 SO 15 27 10 24

MAY

JUN

AUG

0 22

0 10

S 17 SI

14 20

SEP

LATEST DATA PLOTTED WEEK ENDING. DECEMBER 51, 1966

BUSINESS LOANS y
( COMMERCIAL AND INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
BILLIONS OF DOLLARS

SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
“THE

ENDING.

_ JUN. 25,

1986

MILLIONS
NOV. 19

0 20

4 10

NOV

DEC

15 20 12 25 12 26

FEB

MAR

0 23

7 21

4 10

2 15 SO IS 27 10 24

MAY

JUN

AUG

DEC.

3

8 22

5 10

265,831
263,815
265,661
266,577
268,590
274,598

I1L1.L1

3 17 91

14 20

SEP

LATEST DATA PLOTTED WEEK ENDING. DECEMBER 24, 1986
1/ BUSINESS LOANS INCLUDE BAhKERS1 ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 61.4 BILLION


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11