Full text of U.S. Financial Data : March 14, 1991

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Federl

■serve Bank

Of St. Louis

HARisfoliS. Financial Data
March 14, 1991

STARTING THIS WEEK:
%/

U.S. Financial Data offers more... more quantity and higher quality!
Data are displayed more effectively in our charts and we've added
five series: non-Ml components ofM2, savings, small time deposits,
money market funds and money market deposit accounts.

»/ Information is presented in the following order:
Page 1
Page 2
Page 3
Page 4
Page 5
Page 6
Page 7
Page 8
Page 9
Page 10
Page 11
Page 12

The Week's Highlights
Adjusted Monetary Base
Ml and Total Checkable Deposits
M2 and Non-Ml Components ofM2 (new)
Money Multiplier, Currency Component ofMl
Yields on Selected Securities
Selected Interest Rates
Savings (new) and Small Time Deposits (new),
Total and Large Time Deposits
Money Market Funds (new),
Money Market Deposit Accounts (new)
Total Borrowings,
Adjustment + Seasonal Borrowings
Commercial Paper ofNonfinancial Companies,
Commercial and Industrial Loans
Dollar's Trade-Weighted Exchange Index
THE
FEDERAL
A
Ja RESERVE
RANK of

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st. urn

is


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

Adjusted Monetary Base
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1991

Billions

Dec 26
Jan 9

323.4
327.4
329.5
331.5
333.2
332.0

Mar

6

Billions of Dollars

3 17 Jl M 28 14 28
25 9 23 6 20 4 18 1 15 29 12 26 10 24 7 21 5 1! 2 16 30 13 27 13 27
Feb Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
Latest data plotted reserve maintenance period ending: March 6, 1991
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.
J
’
Recent data are preliminary.

Adjusted Monetary Base
To the average of

Compounded annual rates of change, average of two maintenance periods ending:
3/7/90
5/30/90
8/8/90
9/5/90
10/3/90 10/31/90 12/12/90 1/9/91

periods ending:
8/8/90
9/5/90
10/3/90
10/31/90
12/12/90
1/9/91
2/6/91
3/6/91

7.4
9.0
9.6
8.9
8.5
9.7
10.7
10.5


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

10.5
11.1
9.8
9.0
10.6
11.8
11.5

16.1
11.8
10.0
12.1
13.6
12.9

8.6
7.7
10.6
12.7
12.1

5.4
9.8
12.5
11.8

12.3
15.1
13.6

22.1
17.4

15.3

Prepared by Federal Reserve Bank of St. Louis

Money Stock (Ml) and Total Checkable Deposits
Averages ot Daily Figures
Seasonally Adjusted

Billions of Dollars

1991

Billions

Jan 28
Feb 4

830.2
833.3
836.4
838.7
835.9

Mar

Billions of Dollars

4

M1 (left scale)

TCD (right scale)
TCD

1

15 29 12 25 12 25 9 23 7 21 4 18 2 16 30 13 27 10 24 8 22 5
Feb Mar
Apr
May
Jun
Jul
Aug
Sep
Oct

19 3

1991

Billions

Jan 28
Feb 4
11
18
25
Mar 4

567.5
570.3
573.7
575.8
571.6
573.1

17 31 14 28 11 25 11 25
Feb Mar

1990

1991

Latest data plotted week ending: March 4, 1991
Current data appear in the Federal Reserve Board's H.6 release.
M1 is the sum of currency held by the nonbank public, demand deposits, other checkable deposits and travelers
checks.
Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.

Money Stock (Ml)
To the average
of four weeks
ending:
8/6/90
9/3/90
10/1/90
11/5/90
12/3/90
1/7/91
2/4/91
3/4/91

Compounded annual rates of change, average of four weeks ending:
3/5/90
6/4/90
8/6/90
9/3/90
10/1/90 11/5/90 12/3/90

2.5
3.9
4.3
3.5
3.5
3.6
3.5
4.3


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

4.8
5.4
3.8
3.8
3.8
3.7
4.8

9.5
5.2
4.8
4.6
4.3
5.7

2.4
2.7
3.1
3.0
4.8

0.8
2.0
2.1
4.4

3.8
3.4
6.1

3.3
7.0

Prepared by Federal Reserve Bank of St. Louis

3

4

Money Stock (M2) and Nort-Ml Components of M2
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1991

Billions of Dollars

Billions

Jan 28 3339.8
Feb 4 3344.7
11 3353.3.
18 3358.3
25 3360.1
Mar 4 3365.9
(left scale)

Non-M1 M2 (right

Non-M1 M2
1991
Billions
Jan 28 2509.6
Feb 4 2511.4
11 2516.9
18 2519.6
25 2524.2
Mar 4 2528.2

!

15 29 12 26 12 26 9 23 7 21 4 18 2 16 30 13 27 10 24 8 22 5
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

19 3
Nov

17 31 14 28 11 25
Dec

Feb

Mar

1990
Latest data plotted week ending: March 4, 1991
Current data appear in the Federal Reserve Board's H.6 release.
M2 is the sum of M1, ovemiaht RPs issued by all commercial banks, overnight Eurodollars issued to U.S. residents
by foreign branches of U.S. banks, money market deposit accounts, savings and small time deposits, and general
purpose and broker/dealer money market mutual funds. For more detail, see the H.6 release.

Money Stock (M2)
To the average
of four weeks
ending:
6/6/90
9/3/90
10/1/90
11/5/90
12/3/90
1/7/91
2/4/91
3/4/91

Compounded annual rates of change, average of four weeks ending:
3/5/90
6/4/90
8/6/90
9/3/90
10/1/90 11/5/90 12/3/90
1/7/91

2.7
3.4
3.4
3.0
2.8
2.6
2.6
3.1


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

3.6
3.6
2.9
2.6
2.4
2.4
3.1

5.4
3.6
2.9
2.6
2.5
3.4

2.0
1.6
1.6
1.7
2.9

0.8
1.1
1.3
2.7

1.2
1.5
3.3

1.8
4.1

5.7

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier1/
Averages of Daily Figures
Seasonally Adjusted

Ratio
Compounded annual
rates of change,
average of the four
weeks ending
March 4, 1991 from
the four weeks ending:
Mar 5, 1990 -5.7
May 28, 1990 -6.0
Sep 3, 1990 -6.5
Oct 1, 1990 -6.7
Oct 29, 1990 -7.1
Dec 10, 1990 -8.5
Jan 7. 1991 -6.2

1

Ratio

Dec 24

15 29 12 26 12 26 9 23 7 21 4 18 2 16 30 13 27 10 24
Feb Mar
Apr
May
Jun
Jul
Aug
Sep
1990

Jan

7

Feb

4

2.557
2.524
2.502
2.509

Mar

4

2.52

17 31 14 28 11 25 11 25
Feb Mar

Latest data plotted two weeks ending: March 4, 1991

Currency Component of M12/
Billions of Dollars

Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Compounded annual
rates of change,
average of the four
weeks ending
March 4, 1991 from
the four weeks ending:
Mar 5. 1990 12.6
Jun 4, 1990 13.5
Sep 3, 1990 14.3
Oct
1, 1990 13.9
Nov 5, 1990 14.4
Dec 3, 1990 18.1
Jan 7, 1991 23.6

1991

Billions

Jan 28
Feb 4

Mar

1

15 29 12 26 12 26 9 23 7 21 4 18 2 16 30 13 27 10 24
Feb Mar
Apr
May
Jun
Jul
Aug
Sep

4

254.4 — 230
254.7
254.4
254.7
256.1
256.5

17 31 14 28 11 25 11 25
Feb Mar

Latest data plotted week ending: March 4, 1991
1/ Ratio of M1 to adjusted monetary base
2/ Current data appear in the Federal Reserve Board's H.6 release.


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

Prepared by Federal Reserve Bank of St. Louis

5

6

Yields on Selected Securities
Percent

Percent

Averages of Daily Figures

loan Rate

Corporate
Aaa Bonds

-CommerclaF

cipaf Bonds

16 30 13 27
Mar

1

22 6 20

Apr

Aug

15 1
Feb
1991

Sep

1990

15 2J
Mar

Latest data plotted are averages of rates available for the week ending: March 15, 1991.

1991

90-Day
CDs

30—Day
Commercial
Paper

90-Day
Bankers'
Acceptances

7.79
8.13
7.35
7.30
7.33
6.94
6.84
6.45
6.44
6.54
6.71
6.70
6.42

8.23
9.01
7.57
7.22
7.27
6.83
6.90
6.44
6.47
6.51
6.71
6.75
6.44

7.60
7.95
7.08
7.05
7.13
6.76
6.67
6.28
6.30
6.38
6.52
6.42
6.19

Dec 21
28
Jan
4
11
18
25
Feb
1
8
15
22
Mar
1
8
15 *

Corporate
Aaa Bonds
9.02
9.04
9.02
9.05
9.08
9.05
9.00
8.87
8.77
8.81
8.85
8.92
8.90

Corporate
Baa Bonds

Municipal
Bonds **

10.44
10.47
10.38
10.51
10.51
10.44
10.34
10.13
10.00
10.04
10.09
10.11
10.04

7.11
7.14
7.09
7.15
7.10
7.06
7.00
6.86
6.81
6.97
7.01
7.06
N.A.

Current data appear in the Federal Reserve Board's H.15 release.
* Averages of rates available
** 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
Percent

Percent

Averages of Daily Figures

5—Year
Treasury Securities

Fedorar"’Funds Rate

Discount Rate

2 IS 30 13 27
Feb

Mar

Apr

22 6 20 3 17 31 H 28 12 26 9 23
May

Jun

Jul
1990

Aug

Sep

11

1

IS

1

Oct
1991

Latest data plotted are averages of rates available for the week ending: March 15, 1991.

1991
Dec 21
28
Jan
4
11
18
25
Feb
1
8
15
22
Mar
1
8
15 *

Federal
Funds **
7.29
7.16
7.17
6.40
6.77
6.88
7.46
6.32
6.29
6.26
6.31
6.47
6.17

3-Month
Treasury
Bill

6—Month
Treasury
Bill ***

1 -Year
Treasury
Bill

5—Year
Treasury
Securities

Long-Term
Treasury
Securities

6.66
6.48
6.47
6.31
6.07
6.19
6.17
5.94
5.87
5.94
6.04
6.05
5.86

6.77
6.57
6.48
6.51
6.21
6.21
6.28
5.94
5.85
5.91
6.01
6.06
5.91

6.53
6.51
6.37
6.30
6.22
6.19
6.13
5.87
5.84
5.93
6.02
6.09
5.96

7.69
7.79
7.62
7.77
7.77
7.66
7.60
7.41
7.39
7.51
7.65
7.75
7.73

8.25
8.35
8.21
8.41
8.35
8.25
8.22
8.05
8.02
8.10
8.23
8.35
8.31

Current data appear in the Federal Reserve Board's H.15 release excluding long-term Treasury securities
which are computed by this bank. Treasury bill yields are on a discount basis.
* Averages of rates available
** Seven—day averages for week ending two days earlier than date shown
*** Auction average (discount)
Prepared by Federal Reserve Bank of St. Louis


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

7

8

Savings and Small Time Deposits
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

425 ---------1--------1---------

Billions of Dollars

1175

Savings

420

1991

Billions

Jan 28
Feb 4
11
18
25
Mar 4

413.2
413.9
4 4.4
4 5.5
4 6.5
4 8.3

Smq Time right s lale)

1165

s

> «- -*

s

415

1155
/N/

410

1145
Saving (left « cale)

405

e
i 15 29 12 26 12 26 9 23 7 21 4 18 2 16 30 13 27 10 24
Jan

Feb

Mar

Apr

May

Jun

Jul
1990

Aug

Sep

Smc II Tim e

1991

Billio ns

Jan 2£
Feb 4
11
18
25
Mar 4

1162 .9
1161.8
1162.3
1162.5
1163.0
1162.7

1135

I
I
55
T 1 1 1 1 "• 1 1
1 1 1 1 1 1 IT"' 1 ' 1 '
8 22 5 19 3 17 31 14 28 11 25 11 25
Oct Nov Dec
Jan
Feb Mar
1991

Total and Large Time Deposits V
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Large Time
1991

Billions

Jan 28
Feb 4

516.6
515.5
515.7

516.7 —
Mar

4

517.2
515.3

Total Time (left scale)

Total Time
1991

Billions

Jan 28 2092.7
Feb 4 2091.2
11 2092.4
18 2094.7
25 2096.7
Mar 4 2096.3

Feb

Mar

Large Time (right scale)

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Feb

Mar

Latest data plotted week ending: March 4. 1991
1/ Total time is the sum of savings deposits, and small and large time deposits; where large time deposits are
those issued in denominations of $100,000 or more.
.
, d
Q . ,
,
•
Prepared by Federal Reserve Bank of St. Louis


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

Money Market Funds
General Purpose and Broker/Dealer
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Compounded annual
rates of change,
average of the four
weeks ending
March 4, 1991 from
the four weeks ending:
Mar
Jun
Sep
Oct
Nov
Dec
Jan

5.
4,
3,
1,
5.
3,
7.

1990
1990
1990
1990
1990
1990
1991

11.4
15.4
14.8
16.1
18.5
22.4
25.2

1991

Billions

Jan 28
Feb 4

359.6

Mar

1

IS 29 12 26 12 26
Feb Mar

9 23 7 21
Apr May

18 2 16 30 13 27 10 24
Jul
Aug
Sep

4

359.3
358.4
363.2
364.4

17 31 14 28 11 25 11 25
Feb Mar

Oct

Money Market Deposit Accounts
Billions of Dollars

/mi uepusuuiy iiisiiiuuuiia

Billions of Dollars

Averages of Daily Figures, Seasonally Adjusted

Compounded annual
rates of change,
average of the four
weeks ending
March 4, 1991 from
the four weeks ending:
Mar 5. 1990 4.0
Jun 4, 1990 3.1
Sep 3. 1990 2.3
Oct 1, 1990 2.3
Nov 5, 1990 3.5
Dec 3, 1990 4.3
Jan 7, 1991
9.1

1991

Billions

Jan 28
Feb 4

Mar

I

15 29 12 26 12 26 9 23 7 21
Feb Mar
Apr
May

2 16 30 13 27 10 24
Jul
Aug
Sep

5
Oct

4

506.0 —
507.9
510.8
512.2
513.9

19 3 17 31 14 28 11 25
Feb Mar
Nov Dec

Latest data plotted week ending: March 4, 1991


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

Prepared by Federal Reserve Bank of St. Louis

9

10

Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

1991

Billions of Dollars

Billions

Feb

6
13
20
27
Mar 6
13

0.087
0.077
0.282
0.368
0.483
0.148

i 17 3! H » 14 2! 11 25 ! 23 S 10 4 It I IS 2! 12 25 10 24 7 21 S 19 2 15 30 13 27 13 27
Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Feb

Mar

Adjustment + Seasonal Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

3.0

1991

3.0

Billions

Feb

2.4

Billions of Dollars

I--------- 1----------

6
13
20
27
Mar 6
13

0.066
0.057
C .249
C .308
C .443
C .110

2.4

1.8

1.2

1.2

0.6

0.6

...................

Jan

Feb

Mar

Apr

'

l

May

Jun

Jul
1990

T ■ 1 ' 1 ' 1 ■ r~4"T ■ l‘ ■ I i I1 -'"I ■

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

1991

Latest data plotted week ending: March 13. 1991


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

Prepared by Federal Reserve Bank of St. Louis

Commercial Paper of Nonfinancial Companies
Billions of Dollars

1991

Billions of Dollars

Not Seasonally Adjusted

Billions

_ Jan 30 148.395.
Feb 6 150.532

Mar

20 145.383
27 143.306
6 145.126

3 17 31 14 28 14 28 11 25 9 23 6 20 4 18
Feb Mar
Apr
May
Jun

1

15 28 12 26
Sep
Aug

24 7 21 5 18 2
Oct
Nov Dec

16 30 13 27 13 27
Feb Mar

1990

1991

Latest data plotted week ending: March 6. 1991

Commercial and Industrial Loans’7
Weekly Reporting Large Commercial Banks2/
Seasonally Adjusted

Billions of Dollars

354

346

33!

.

Billions of Dollars
-----------1----------1---------

I
I
I
Compounded annual
rates of change,
average of the four
weeks ending
February 27, 1991 from
the four weeks ending:
Feb 28, 1990 -2.0
May 30, 1990 -3.3
Aug 29, 1990 -5.2
Oct 24,
Nov 28,
Dec 26,

1991

Billions

Jan 23
30
Feb
1:
2C
2'

320.622
317.565
318.'J40
319. 26
319. 535
318. 381

354

346

338

990 -‘3.8
990 -f5.9
990 - 7 A

330

322

322

8

3 17 31 14 28 14 28 11 25 8 23 6 20 4 18
Jan
Feb Mar
Apr
May Jun
Jul

1

15 28 12 26 10 24 7 21
Aug
Sep
Oct Nov

1990

5 19
Dec

2 16 30 13 27 13 27
Jan
Feb Mar
1991

Latest data plotted week ending: February 27, 1991
1/ Commercial and industrial loans include banker's acceptances and commercial paper.
2/ Banks with domestic assets greater than $1.4 billion
Prepared by Federal Reserve Bank of St. Louis


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

11

Dollar's Trade-Weighted Exchange Index
1973=100

Averages of Daily Figures

1973=100

1991 1973=100

Feb

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Latest data plotted week ending: March 13, 1991
Current data appear in the Federal Reserve Board's H.10 release.
Data are weighted averages of the foreign-currency price of the U.S. dollar, computed usinq 10 industrial
country currencies.


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

Prepared by Federal Reserve Bank of St. Louis