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RESEARCH LIBRARY
Federal Reserve Bank

HS^Financial Data
APR 19

1988

April 14, 1988

THE WEEK'S HIGHLIGHTS:
is

Retail sales in March totaled $130.66 billion, up at a 10.5 percent
annual rate from February and 5.2 percent above March 1987.
February's rate of increase was revised upward to 7.8 percent from
the 5 percent rate initially announced. Retail sales data are not
adjusted for inflation.

is

Business inventories in February reached $715.85 billion, up at a
1.4 percent annual rate from January. Revised data show that
business inventories increased at a 9.1 percent rate in January instead
of the 5.2 percent rate initially announced. The ratio of business
inventories to sales was 1.53 in February, down slightly from 1.54
in January but up from 1.50 in February of last year.

ts

The U.S. merchandise trade deficit (not seasonally adjusted) in
February was $13.83 billion, up from $12.44 billion in January.
For the first two months of this year, the trade deficit was $26.27
billion, down slightly from $26.30 billion for the same period last
year.

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
276 --------- 1--------- .--------

BILLIONS OF DOLLARS
----- ------------ ---------- 276

273.0
MAR.

I

FEB

25 It

!7I .5

25

MAR

8 22

APR

8 20

9 17

MAY

JUN

1

19 29 12 26

JUL
1987

AUG

9 29

SEP

7 21

4 18

OCT

NOV

2 18 90 19 27 10 24

DEC

FEB

9 29

8 20

MAR
1988

LATEST PLOTTED RESERVE MAINTENANCE PERIOD END INGt APRIL 6, 1988
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
BAhK. 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,
AVERAGE OF TWO MAI NTENANCE PERIODS ENDINGt
4/8/87

7/1/87

9/9/87

6.2
5.9
6.6
6.9
6.0
7.6
6.7
6.8

6. 1
7.3
7.7
6.2
8.3
7.0
7.2

7.7
8.3
5.7
8.9
7.0
7.3

10/7/87

11/4/87

2/2/87 12/30/87

2/10/88

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDINGt
9/ 9/87
10/ 7/87
11/ 4/87
12/ 2/87
12/30/87
2/10/88
3/ 9/88
4/ 6/88


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

10.5
6.2
10. 1
7.6
7.8

3.7
9.7
6.8
7.2

9.7
6.0
6.6

9.3
9.2

2.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES

StAbUNALLY ADJUSTED

BILLIONS OF DOLLARS
780 r---------------------,-----

126.8.
FEB.
MAR.

2

10

FEB

29
“

BILLIONS
755.9
760.4
766.3
768.2
765.0

2 16 30 IS 27 11

MAR

BILLIONS OF DOLLARS

---- ----- ---- =1

APR

25

MAY

8 22

JUN

6 20

JUL

3 17 91

AUG

14 28 12 28

SEP

0 29

OCT

■LLJ. I I I I

7 21

DEC

1

18 28 14 28 11 29

JAN

MAR

1987
LATEST DATA PLOTTED WEEK ENDING: APRIL 4, 1988

APR

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
depoIits£and“travelerInchecks? by the

nonba'* public' DEMAND DEP0SI7S' other checkable
*

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
4/6/87

7/6/87

9/7/87

10/5/87

3.7
3.6
5. 1
3.2
2.8
4. 1
3.3
4.0

3.5
6. 1
2.9
2.3
4.2
3.2
4.1

9.1
2.4
1.6
4.6
3.0
4.2

1.9
1. 1
4.8
3.0
4.3

11/2/87

12/7/87

1/4/88

2/1/88

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/
10/
11/
12/
1/
2/
3/
4/

7/87
5/87
2/87
7/87
4/88
1/88
7/88
4/88


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

-4.6
1.9
0.5
2.5

8. 1
3.7
5.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

780

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
1988
JAN.
FEB.

RATIO

25
8
22
7

MAR.

2.790
2.804
2.794
2.783
2.790

Ml MULTIPLIER

I I I I
0 29

9 29

0 20

4

16

APR

1

15 29 19 27

10 24

MAY

7 21

5 19

SEP

2

16 90 14 28

OCT

DEC

11

25

6 22

JAN

7 21

MAR

APR

LATEST DATA PLOTTED 11110 WEEKS ENDING: APRIL 4, 1988
BILLIONS OF DOLLARS
206

BILLIONS OF DOLLARS
206 _
1
II
-__COMPOUNDED ANNUAL Rl\TES
L OF CHANGE, AVERAGE 3F
_ THE FOUR WEEKS END 1 <1G _
_
APRIL 4. 1988 FROM
“ THE FOUR WEEKS END II4G:
FEB.

1,

1988

DE C.
NO V.
OC T.
JU L.
AP K.

7,
2,
5,
6,
O,

1987
1987
1987
1987

-

T.t

_
_
“
”
—

9.9
10.1
10.4
9.5
y .i

CURRENCY

_

Ml

-

-

190
—
186

'
—

INI

FEB

MAR

16

1 1 1

111

13 27 II

APR

MAY

1111
25

8 22

JUN

111
6 20

JUL
1987

1111

111

17 31

AUG

111

14 28 12 26

SEP

OCT

1111
9 23

NOV

111

g i uu i v.ira

29 199.1
_
7 199.2
14
200.2
“
21
201.4
—
28
202.2
APF .
4 201.8
_
11111 ii 11111‘
1 1 1

til

s
-LLL

_

1ggg.

7 21

4

DEC

JAN

18

.
.

15 29 14

FEB

MAR

APR

LATEST DATA PLOTTED WEEK ENDINGt APRIL 4, 1988
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

182

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
580 --------- ,------------ ,-----

BILLIONS OF DOLLARS
---------------------------- 580

548.5
549.4
552.8
557.5
558.6
555.9

2 18

FEB

2 18 30 13 27 1

MAR

APR

23

MAY

8 22

JUN

6 20

JUL

3 17 31

AUG

M 28 12 28

SEP

9 23

OCT

4

DEC

18

1

15 29 14 28 II

JAN

MAR

1987
LATEST DATA PLOTTED KEEK ENDING: APRIL 4, I
DEPOSITORYKfNSTITUT?ONS? 'S THE SU“

23

APR

DQ“ND DEP0SITS "*> 0THER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
4/6/87

7/6/87

9/7/87

10/5/87

11/2/87

1 .8
5.1
0.6
-0.2
2. 1
1.1
2.1

8.8
-0.3
-1.3
2.2
0.8
2.1

-1 . 1
-2.2
2.4
0.6
2.2

-9.5
-1.6
-2.6
-0.2

12/7/87

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/
10/
11/
12/
1/
2/
3/
4/

7/87
5/87
2/87
7/87
4/88
1/88
7/88
4/88

2.3
2.2
4.0
1.3
0.7
2.3
1.5
2.2


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

6.4
1.8
4.0

1/4/88

4.7
6.7

2/1/88

1.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT
12.0

MUNIC

90 DAY

I I 11
6 20

8 20

3 IT

FEB

MAR

1

15 29 12 2C 10 24

APR

7 21

4

AUG

SEP

18

2 16 30 13 27 11

NOV

DEC

25

8 22

19

FEB

4 18

I

18 29

MAR

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: APRIL 15, 1988.

1988
FEB.

5
12
19
26
MAR.
4
1 1
18
25
APR.
1
8
15 X
22
29

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS XX

6.63
6.54
6.64
6.61
6.58
6.62
6.61
6.64
6.67
6.82
6.84

6.59
6.47
6.61
6.53
6.54
6.55
6.56
6.58
6.63
6.73
6.76

6.50
6.43
6.55
6.48
6.45
6.50
6.51
6.52
6.55
6.70
6.72

9.46
9.42
9.41
9.33
9.27
9.34
9.36
9.44
9.53
9.61
9.59

10.71
10.62
10.60
10.56
10.48
10.50
10.55
10.64
10.73
10.83
10.84

7.49
7.40
7.55
7.52
7.47
7.67
7.75
7.89
7.90
7.80
N.A.

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


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES

pERCENT

5-YEAR
TREASURY SECURITIES

FUNDS RATE

/

DISCOUNT RATE
TREASURY BILL

0 20

B 20

3 17

FEB

MAR

APR

1

15 2® 12 26 10 24

7 21

4 18

AUG

SEP

2

16 SO 13 27

NOV

11

DEC

25

8 22

5 10

4

FEB

MAR

18

15 20

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: APRIL 15, 1988.

1988
FEB.

5
12
19
26
MAR.
4
1 1
18
25
APR.
1
8
15 X
22
29

FEDERAL
FUNDS NGN

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILLNBKX

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

6.77
6.38
6.65
6.64
6.60
6.51
6.61
6.51
6.62
6.82
6.81

5.67
5.65
5.72
5.63
5.63
5.73
5.64
5.77
5.74
5.99
5.94

6.11
5.85
6.03
5.83
5.86
5.93
5.78
5.96
6.00
6.21
6.19

6.22
6.16
6.27
6.20
6.20
6.28
6.23
6.35
6.36
6.55
6.47

7.73
7.67
7.79
7.70
7.63
7.78
7.78
7.95
8.03
8.13
8.10

8.43
8.42
8.55
8.46
8.44
8.60
8.63
8.77
8.85
8.66
8.82

^seaMYv^?d^W5 endi"s ™ DAYS EARLIER THAN MTE SHWN


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

MONEY STOCK ( M2 )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
3000 --------- 1------------ r—
19M

2975

FEB.
MAR.

29
7

ILL IONS OF DOLLARS
—l--------- ---------- 3000

B-LLL-lflNS

2946.4
2953.2
2973
2978
2950

2925

2 16

FEB

2 16 50 13 27 11

MAR

APR

25

MAY

6 22

JUN

6 20

JUL
1987

3 17 SI

AUG

14

—

SEP

12 26

0 23

OCT

NOV

7 21

4 16

DEC

JAN

1

15

FEB

MAR

APR

LATEST DATA PLOTTED WEEK ENDINGt APRIL 4, 1988
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE

MONEY STOCK ( M2 )
COMPOUNDED ANNUAL RATES OF CHANGE
4/6/87

AVERAGE OF FOUR WEEKS ENDING:

7/6/87

9/7/87

10/5/87

I 1/2/87

12/7/87

4.7
4.9
3.8
3.6
4.8
5.2
5.8

5.8
3.6
3.4
5. 1
5.6
6.3

2.5
2.6
4.3
5.5
6.4

1.3
4.6
5.5
6.5

7.5
7.6
8.5

1/4/88

2/1/88

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
9/
10/
11/
12/
1/
2/
3/
4/

7/87
5/87
2/87
7/87
4/88
1/88
7/88
4/88

3.0
3.4
3.7
3.2
3.2
4.0
4.4
4.9


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

9.7
10.3

9.4

PREPARED BY FEDERAL RESERVE BAMC DF ST. LOUIS

ALL DEPOSITORY INSTITUTIONS
TOTAL TIME DEPOSITS^
LARGE TIME DEPOSITS*/
AVERAGES OF DAILY FIGURES

1800
1780

iiiiliiiiln iilm i

1820

f a s s is t-

SEASONALLY ADJUSTED
BILLIONS OF DOLLARS
1880
E-------1------------1--------- 1--------- —
COMPOUNDED ANNUAL R ttES
1860
- OF CHANGE. AVERAGE 3F
- THE FOUR WEEKS END If*5
1840 - APRIL 4. 1988 FROM
E FOUR WEEKS END If*3;
B.
N.
C.
V.
T.
L.
R.

1,
4,
7,
2,
5,
6,
6,

1988
1988
1987
1987
1987
1987
1987

14.'
11.S
11.4

12.' !
12.
10. »
10.'

BILLIONS OF DOLLARS

E

«

z
z

_

j=

— TOTAL TIME 3EP0S TS

/"■

'

5

X

E

1760

E
1740
1720
1700

1820
1800
1780
1760
1740

1

=
1720

E

1988

E

1680
1660
B 1 1 1 L.1.1. U.

111

a i

INI -LI 1

1111 111
LATEST DATA PLOTTED WEEK ENDING; APRIL 4, 1988

111

Mil

1 1 1

1388.

E

B ILL 10

w . 29
1854.0
Z
.
7
1858.1
Z
14
1862.1
—
21
1864.9
=
28
1866.0
Z
.
4
1870.4
—
11111 in 1 in’

490. I

489.5
488.9
491. I
LARGE TIME DEPOSITS

APR

1680
1660

BILLIONS OF DOLLARS
500

BILLIONS

2 16 30 13 27

1700

xuJ

BILLIONS OF DOLLARS

2 16

1840

II

25

MAY

8 22

8

3 17 31

14 28 12

SEP

0 23

OCT

7 21

4 18

DEC

JAN

1

15 29 14 28 II 25

MAR

APR

LATEST DATA PLOTTED WEEK ENDING; APRIL 4, 1988
1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF OAILY FIGURES

BILLIONS OF DOLLARS
4.0 --------- i--------- ,-------1M

16
23
30
6
13

BILLIONS OF DOLLARS
----- ------------ --------- 4-°

MILLION?

1311
2537
2465
3169
3565

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGt APRIL 13, 1988
BILLIONS OF DOLLARS
1988

BILLIONS OF DOLLARS

MILLIONS
ADJUSTMENT + SEASONAL
BORROWINGS

4 16

4 18

FEB

MAR

IS 29 13 27 10 24

MAY

8 22

5 10

2

16 30 14 28 11

JUN

OCT

NOV

25

0 23

6 20

3 17

JAN

FEB

2 16 30

13 27

LATEST DATA PLOTTED WEEK ENDINGt APRIL 13, 1988


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
95 --------- ,--------- ,--------

BILLIONS OF DOLLARS
----- ------------ ---------- 95

87,110

” APR.

8

4 18

4 18

I

18 29 13 27

MAY

10 24

8 22

8 18

2 16 30 14 28 11 28

JON

OCT

9 23

8 20

3 17

JAN

NOV

FEB

'987

2 16 30 13 27

1986

LATEST DATA PLOTTED WEEK EMHNGi APRIL 8, 1988
* DASHED LINE REPRESENTS DATA USING A NEW REPORTING PANEL AM) IS NOT COMPARABLE TO PREVIOUS DATA.

BUSINESS LOANS u

( COMMERCIAL AND INDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
295
-

JUL.
APR.
DEC.

° a

Sf!

V—

fe:s

G

_

1111

s---£

\
111 -ILL J.) 1 -LLLL

mi

■ ii i

MAY

JUN

FEB

MAR

APR

i i i i

JUL
1087

-

yv

1 1 1

Mil,

AUG

SEP

NOV. 25
DEC. 2
9
16
23
30
Llil1
111
OCT

NOV

275

”

276,743
I
276,566
277,744
_
278,725
276,381
276,596
1 1 1 1 1 1 1 |!
DEC

JAN
1088

LATEST DATA PLOTTED WEEK ENDING. DECEMBER 30, 1987
1/ BUSINESS LOANS INCLUDE BAhKERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

280

“

MILLIONS

ISfi]

JAN

1.
-0.
0.

e.

1111

1 1 1 1
8 19 3 17
NOV
DEC
1086

1 90

av*i

270

’iu.

,

200
-

1 1 1 1

\

1
108’
1
198'
31 , 198

3. 8
6. 2
7. 6

_

" II1 1

3°»'ti

28, 1987
30, 1987
2, 1087

1 1 111

280

\

OCT.
SEP.
SEP.

V

JMVK-CM

285

BILLIONS OF DOLLARS
205

------------1------------1--------------- —
I

COMP OUNDED ANNUAL RAT iS
OF C HANGE. AVERAGE OF
THE FOUR WEEKS ENDING
DECEMBER 30, 1087 FRO*
THE FOUR WE^KS ENDING

270


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102