Full text of U.S. Financial Data : September 10, 1987

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Resme tijfifc 1

SEP 1 4 1987

lancial Data

SePtember 10> 1987

THE WEEK'S HIGHLIGHTS:
^

The Federal Reserve discount rate was raised to 6 percent on
September 4, after remaining at 5.50 percent since August 1986.
This increase was only the second since May 1981 when the discount
rate was 14 percent.

v

Yields on long-term government securities rose to 9.73 percent for
the week ending September 11, up 118 basis points from the week
ending June 19.

s

The nation's civilian unemployment rate was 6 percent in August,
unchanged from July and down from 6.8 percent a year earlier.

is

Total civilian employment increased at a 3.8 percent annual rate
in August and was up 2.7 percent from a year earlier. Nonfarm
payroll employment grew at a 1.8 percent rate in August and rose
2.5 percent over the past year.

v*

Consumer installment credit rose at an 8.5 percent rate from May
to July, compared with a 2 percent rate of advance over the previous
six months.

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
270

BILLIONS OF DOLLARS

------------- ,---------- 1------

263.3
AUG.

2

t6 SO

JUL

12

13 27

AUG

264.4
264.4
266.3
266.3

10 24

SEP

8 22

OCT
1986

5

IQ

NOV

3 17 31

DEC

14 28 II

JAN

25 II

FEB

25

8 22

MAR

APR

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING: SEPTEMBER 9,

6 20

3 17

MAY
JUN
1987

I

18 20 12 28

JUL

AUG

«

SEP

1987

THE
______
ADJUSTED
_— -------------------MONETARY ------BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
RESERVE BAhKS L _CURRENCY IN CIRCULATI ON (.CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF ALL
DEPOSITORY
INSTITUTIONS)
REQUIREMENT RATIO CHANGES.
THE
........
i.----------------- AND AN
.. ADJUSTMENT
----------------- FOR
. RESERVE
SERVE------------------------------------------~
~ MAJOR
—
SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT.
DATA ARE COMPUTED BY THIS
A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM THIS BANK.
BANK.
RECENT DATA ARE PRELIMINARY.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PER 1ODS ENDING:
9/10/86

12/3/86

2/11/87

3/11/87

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING:
2/11/87
3/11/87
4/ 8/87
5/ 6/87
6/ 3/87
7/15/87
8/12/87
9/ 9/87

4/8/87
«,

10.9
9.6
8.6
9. 1
8.5
7.4
7.4
7.5


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

10.0
8.3
9. 1
8.2
6.8
6.9
7. 1

2.5
5.8
5.2
4.0
4.5
5.1

7.5
6. 1
4.3
4.9
5.5

5/6/87

6/3/87

7/15/87

1.8
3.4
4.7

3.4
5.0

8.4

'

8.0
4.8
5.4
6. 1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

JUL.

27

BILLIONS OF DOLLARS
780

749.0
751 .6
749.5
750.5
752.9
750.7

680

4 18

JUL

I

18 29 13 27 10 24

AUG

OCT

8 22

NOV

5 19

2 18

JAN

FEB

2 16 30 13 27

APR

11

25

8 22

6 20

MAY

LATEST DATA PLOTTED WEEK ENDING*. AUGUST 31, 1987
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
BY

THE

DEMAND

PUBLIC*

0THER CHECKABLE

D€P0SITS*

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
9/1/86

12/1/86

2/2/87

3/2/87

5.9
10.3
6.8
4.2
4.0
4. 1

11.7
9.4
3.5
3.4
3.7

AVERAGE OF FOUR WEEKS ENDING;

3/30/87

5/4/87

6/1/87

-5. 1
-2.0
-0.3

-4.6
-1.7

6/29/87

TO THE AVERAGE
OF FOUR WEEKS
ENDING;
2/ 2/87
3/ 2/87
3/30/87
5/ 4/87
6/ 1/87
6/29/87
8/ 3/87
8/31/87

16.4
14.9
13.5
14. 1
13.1
10.3
9.5
9.2


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

14.0
11.8
13. 1
11.7
7.9
7.2
7.0

1 1.5
3.1
3.2
3.5

4.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIERS
CURRENCY COMPONENT OF MONEY STOCK 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
3.0
RATIO
2 §26
Ml MULTIPLIER

2.825

2.9

2.824

2.8

14 28 II

JUL

25

8 22

AUG

SEP

8

OCT
1986

5 17

1

NOV

DEC

15 28 12 28

JAN

0 25

FEB

0 25

MAR

6 20

4 18

APR

MAY
1987

I

15 28 IS 27 10 24

JUN

JUL

AUG

7 21

0

SEP

LATEST DATA PLOTTED TWO WEEKS ENDING: AUGUST 24, 1987
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
198

_

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
- THE FOUR ifcEEKS ENDING
—AUGUST 31. 1987 FROM
_
THE FOUR *EEKS ENDING:
_

JUN.
JUN.
MAY
- MAR.
- MAR.
_
DEC.
SEP.

29, 1987
1, 1987
4, 1987
30, 1987
2, 1987
1, 1966
1, 1986

194

7.5
6.5
6.9
7.2
6.7
8.1
8.0

CURRENCY

186

lflfiZ.

BILLIONS
192.1

178

11111111
4 18

1

15 28 IS 27

OCT

10 24

NOV

8 22

5 18

2 18

JAN

FEB

2 18 90 15 27

II

25

8 22

8 20

5 17 51

14 28

LATEST DATA PLOTTED WEEK ENDING: AUGUST 31, 1987
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

BILLIONS of DOLLARS

billions of dollars

BILLIONS
549.5

552.6

549.8
550.6

552.3

550.4

4 18

JUL

I

15 20 13 27 10 24

AUG

OCT

8 22

NOV

5

10

JAN

2

10

2

16 30 13 27

FEB

APR

II

25

8 22

6 20

3

17 31

14 28

MAY
1987

LATEST DATA PLOTTED WEEK ENDING: AUGUST 31. 1987
DEPOSITORY<t^TITUT?ONSS 'S THE SU“ °F DEMAf® DEP0SITS AN0 OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES 3F CHANGE , AVERAGE OF FOUR WEEKS ENDING:
9/1/86

12/1/86

2/2/87

3/2/87

5.4
11.4
9.3
3.2
2.9
3.2

13.7
10.2
2.4
2.3
2.7

3/30/87

5/4/87

6/1/87

-8.9
-4.9
-2.7

-8.1
-4.4

6/29/87

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/ 2/87
3/ 2/87
3/30/87
5/ 4/87
6/ 1/87
6/29/87
8/ 3/87
8/31/87

19.2
17. 1
15.3
16.2
14.8
11.1
10. 1
9.7


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

15.2
12.6
14.6
12.7
7.8
6.9
6.7

12.9
1 .8
1 .9
2.4

3. 1

PREPARED BY FEDERAL RESERVE BAFK OF ST. LOUIS

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT
11.0

CORPORATE
Aaa BONDS

PAN RA~

4 18

1

15 20 12

10 24

7 21

5 10

NOV

DEC

2 16 SO 13 27

FEB

13 27 10 24

MAR

8 22

5 10

3 17 31

APR

14 28 II 25

AUG

SEP

1987
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt SEPTEMBER 11, 1987.

1987
JULY

AUG.

SEP.

3
10
17
24
31
7
14
21
28
4
1 1 *
18
25

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BOWS

MUNICIPAL
BOWS WK

6.88
6.73
6.64
6.65
6.72
6.78
6.70
6.72
6.77
7.00
7.36

6.82
6.65
6.52
6.49
6.56
6.63
6.59
6.60
6.64
6.87
7.25

6.75
6.63
6.52
6.53
6.61
6.65
6.58
6.61
6.69
6.96
7.31

9.33
9.31
9.36
9.46
9.56
9.65
9.63
9.68
9.70
9.87
10.05

10.52
10.52
10.57
10.62
10.74
10.84
10.76
10.77
10.82
11.00
11.18

7.81
7.67
7.66
7.72
7.73
7.86
7.79
7.81
7.80
8.05
N. A.

NOTEt CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.I5 RELEASE.
M AVERAGES OF RATES AVAILABLE
KK BOND BUYER'S AVERAGE IWEX 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

11.0

9.0

6.0

TREASURY SECURITIES
I

V'

1

DISCOUNT RATE

TREASURY

1111
4

16

1

15 29 12 26 10 24

7 21
NOV

5 19
DEC

2

16 90 FEB
19 27 MAR
19 27 APR
10 24

8 22

5 19

9 17 91

14 28 11

AUG

SEP

28

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt SEPTEMBER 11, 1987.

1987
JULY

AUG.

SEP.

3
10
17
24
31
7
14
21
28
4
11 *
18
25

FEDERAL
FUNDS K*

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL mm

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

6.61
6.64
6.52
6.57
6.63
6.75
6.58
6.74
6.76
6.85
6.95

5.68
5.61
5.58
5.66
5.94
5.87
5.94
6.05
6.24
6.21
6.44

6.00
5.68
5.54
N. A.
6.20
6. 15
6.14
6.12
6.16
6.34
6.72

6.25
6.20
6. 1 1
6.26
6.40
6.49
6.47
6.53
6.65
6.89
7.21

7.96
7.91
7.93
8.05
8. 18
8.30
8.24
8.30
8.41
8.69
9.02

8.66
8.62
8.69
8.84
8.94
9.05
8.95
8.99
9. 1 1
9.43
9.73

NOTE; CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE EXCLUDING LONG-TERM TREASURY
» AvcBAH£l£cTofTCeHiS£,i.A?£. COMPUTED BY THIS BANK.
TREASURY BILL YIELDS ARE ON A DISCOUNT BASIS.
* AVtHAwtS Or nAlhS AVAILABLE

» SEVEN-DAY AVERAGES FOR WEEK ENDING TWO DAYS EARLIER THAN DATE SHOWN
mm AUCTI ON AVERAGE C DISCOUNT )


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

"

i

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

BILLIONS OF DOLLARS

I3SL

ILL IONS OF DOLLARS
410

BILLIONS
364.2
365. I
365.5

SMALL TIME DEPOSITS

350

LATEST DATA PLOTTED WEEK ENDING: AUGUST 31, 1987
BILLIONS OF DOLLARS

1987

BILLIONS OF DOLLARS

BILLIONS
312.9
313.0
314.3
313.0

314.2
313.3

LARGE TIME DEPOSITS

7 21

4 18

I

13 20 13 27

OCT
1986

10 24

8 22

5 10

2

16

2

18 30 13 27 11

APR

NOV

LATEST DATA PLOTTED WEEK ENDING: AUGUST 31,

25

8 22

6 20

3

17 31

14 28

MAY
1987

1987

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

1

2

t—

i


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

*

2/ TIME DEPOS1TS ISSUED IN

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

_

JUL.

27

BILLIONS OF DOLLARS
865

854.2
855.6
857.4
856.8

835

825

815

4 IS

JUL

AUG

I

19 29 19 27 10 24

OCT
1986

8 22

NOV

9 19

2 IS

JAN

FEB

2 IS 90 19 27

APR

11

29

S 22

8 20

9 17 91

14 28

MAY
1987

LATEST DATA PLOTTED WEEK ENDING: AUGUST 31, 1987
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:
9/1/88

12/1/86

2/2/87

4.6
4.6
4.9
6.0
6.3
6.9
6.6
6.5

8.8
8.2
9.2
9.2
9.8
9.0
8.5

5.7
8.4
8.6
9.5
8.4
7.9

3/2/87

3/30/87

5/4/87

6/1/87

6/29/87

8. 1
7.0

4.4

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/ 2/87
3/ 2/87
3/30/87
5/ 4/87
8/ 1/87
6/29/87
8/ 3/87
8/31/87


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

9.9
9.7
10.5
9. 1
8.4

1 1.2
1 1 .9
9.7
8.7

1 1.2
8.5
7.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

r

I

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

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

1SSL

MILLIONS

20
2

012
546
TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDING, SEPTEMBER 0,

1067

BILLIONS OF DOLLARS

5

BILLIONS OF DOLLARS
2.5

441

ADJUSTMENT + SEASONAL
BORROWINGS
1.5

2 16 90 19 27 10 24

8 22

9 10

9 17 91

14

11

25 II 28

JAN

FEB

MAR

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 0,


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

6 22

6 20

9 17

1

IS 20 12 26

0 29

1087

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

IONS OF DOLLARS

ILL IONS OF DOLLARS

—1---------------------JUL. 29
— AUG. 5

SEP.

2

100

79,147
79.255
78,183

2 18 90 13 27 10 24 8 22
JUL
AUG
SEP
OCT
1086

5 10
NOV

3 17 31 14 28 II 25 II 25 8 22
DEC
JAN
FEB
MAR
APR

6 20 3 17
MAY
JUN
1987

1 15 20 12 26 0 23
JUL
AUG
SEP

LATEST DATA PLOTTED WEEK ENDINGt SEPTEMBER 2, 1987

BUSINESS LOANS u

( COMMERCIAL

AND

INDUSTRIAL )

WEEKLY REPORT ING LARGE COMMERCIAL BANKS 2/
5tA50NAL.LT ADJUSTED

BILLIONS OF DOLLARS
290 ------------- 1---------- ,------

ILL IONS OF DOLLARS
—i---------- ------------- 290

_ COMPOUNDED ANNUAL RATES
_ OF CHANGE, AVERAGE OF
L THE FOUR iVEEKS ENDING

987
- MAY

-11.9

27

- FEB. 25i
- NOV. 26.

JUL. 22
AUG.

2 18 90 19 27 10 24
AUG
SEP

8 22

5 10

3 17 31

14 28 II 25 II 25
JAN

FEB

MAR

6 22

8 20
MAY

5

269,234
270,761
271,064
270,719

111 1 1 I I I I I I I I
3 17 I 15 20 12 26
JUN

0 23

LATEST DATA PLOTTED WEEK ENDING: AUGUST 26, 1967
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

11