Full text of U.S. Financial Data : April 19, 1990

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1

»

RESEARCH LIBRARY
Federal Reserve Bank

j.sr .a

mayo

41990

nancial Data
April 19,1990

THE WEEK'S HIGHLIGHTS:
*

The consumer price index (CPI) rose at a seasonally adjusted annual
rate of 5.8 percent in March, following an identical rise in February.
The CPI has risen at an 8.5 percent rate since December 1989 and
5.2 percent since one year ago.
Producer prices of finished goods (PPI) declined at an annual rate
of 2 percent in March, after remaining unchanged in February. The
PPI has risen at a 6.7 percent rate since December 1989 and 4.4
percent since March 1989.
U. S. industrial production increased at an annual rate of 8.1 percent
in March, following a revised rate of increase of 10.6 percent in
February. Production has increased at an annual rate of 0.7 percent
since December 1989 and 1 percent since a year ago.
U.S. housing starts fell 9.3 percent in March, following a revised
decline of 7.1 percent in February. Housing starts were down 6
percent from one year ago.

THE
FEDERAL
A RESERVE
X HANK of

si: ions

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

BILLIONS OF DOLLARS

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

B1LL1.QMS
298.5
300.6
301.4
304.2
302. I
304.5

8 22

8 22

5

18

3 17 31

12 26

14

JUN

8 23

JUL
1989

6 20

4 18

SEP

OCT

1

15 28 13 27

10 24

7 21

7 21

FEB
MAR
1990

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING. APRIL 18,

4 18

APR

1990

THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
RESERVE BAM<$. CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF ALL
DEPOSITORY INSTITUTIONS) AND AN ADJUSTMENT FOP. 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,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING
4/19/89

7/12/89

9/20/89 10/18/89 1 1/15/89 12/13/89

1/24/90

2/21/90

5.5
4.4

8.3

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING.
9/20/89
10/18/89
11/15/89
12/13/89
1/24/90
2/21/90
3/21/90
4/18/90

2.6
3. I
3.0
3.0
5.2
4.4
5.2
5.0


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

4.3
3.7
3.6
6.6
5.4
6.4
6.0

4. 1
3.8
8.4
6.3
7.5
6.8

2.5
9.0
6.2
7.7
6.9

12. 1
7.5
9.1
7.8

9.3
10.9
8.9

j

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

ILL IONS OF DOLLARS
815

BILLIONS
MAR.

806.9
802.5
804.8
808.0
805.6

6 20

e 20

3 17

FEB

MAR

APR

1 15 39 12 20 10 24

7 21

4 18

AUG

SEP

2 10 30 13 27 It 25
NOV

8 22

5 19

5 19

2 16 30

DEC

1989

1990

LATEST DATA PLOTTED WEEK ENDING* APRIL 9,

1990

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,
4/10/89

7/10/89

9/11/89

10/9/89

4.6
5.3
4.7
5.5
4.5
5.5
5.1

6.4
5.0
6. 1
4.6
5.8
5.4

4.9
6.3
4.4
5.9
5.4

AVERAGE OF FOUR WEEKS ENDING:

11/6/89 12/11/89

1/8/90

2/12/90

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/11/89
10/ 9/89
11/ 6/89
12/11/89
1/ 8/90
2/12/90
3/12/90
4/ 9/90

-0.5
0.3
1.3
1 .5
2.3
2.0
2.9
2.8


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

5.8
3.6
5.6
5.0

4.0
6.7
5.7

5.4
4.5

7.6

PREPARED BY FEDERAL RESERVE BANK OF ST.

3

LOUIS

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK s
RATIO
3.0

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
3.0

—1--------- 1------------1------------

1990
JAN.
FEB.
MAIR.
AP R.

RATIO

22
5
19
5
19
2

2.631
2.666
2.661
2.6 75
2.639
2.6 70

2.8
Ml Ml LTIPL

IER

2.7

2.7

2.6

2.6

!lll -LLL -LLL -LUI _LLL
0 20
FEB

0 20
MAR

3 17
APR

I

1

1 1

1

IS 20 12 20 10 24

MAY

JUN

JUL
1989

-LLL -LLL -LI 1 1 -LLL -LLL 1 1 IL -LLL -LLL .1 LI L
7 21
AUG

4 10

SEP

2 16 30 IS 27 11

OCT

NOV

2S

DEC

0 22

JAN

5 19 S 19
FEB
MAR
1990

2 10 30

APR

LATEST DATA PLOTTED TWO WEEKS ENDING: APRIL 2, 1990
BILLIONS OF DOLLARS
234

ILL IONS OF DOLLARS
234

I------ 1---------1---------1-----------1-------_
-

COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
THE FOUR ifrEEKS ENDING

_

THE FOU

_

FEB. 12 ,
JAN. 0 ,
DEC. 11 ,
,
OC T. 9 ,
JU L. 10 ,
AP R. 10 ,

_
_

_
S.

WEEK S ENDING:
1990 10.5
1990 12.2
198 9 11.9
198
1989
8.S
198 9
7.;
198 9
6.:

y

CURRE NCY

222

-

/

-

-

_
l990
-

MAP .

5
12

BILL 1 UM5

_

227. 7
227. 5

214

26 229.3
_
2 229.5
9 229.1
1111111111111111 Is
APR.

Ill

hi

-LLL LI 1 1 LLL 1111 -LLL LLL Hill -LLL LLL

6 20

0 20

3 17

1

FEB

MAR

APR

MAY

IS 29 12 20 10 24

JUN

JUL
1989

7 21

4 10

AUG

SEP

2 10 30 13 27

OCT

NOV

II

DEC

25

6 22

5 19

5 19

FEB
MAR
1990

2

16 30

APR

LATEST DATA PLOTTED WEEK ENDING: APRIL 9, 1990
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 BAM( OF ST. LOUIS

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS of DOLLARS

billions of dollars

BILLIONS

575

571.7
567.4
566.6
568.0
570.9
569.0

— APR

565

6 20

a 20

3 17

FEB

MAR

APR

1

>5 29 12 28 10 24

7 21

4 18

AUG

SEP

2

16 30

13 27

NOV

II

25

8 22

DEC

5

19

FEB

3

19

2

16 30

MAR

LATEST DATA PLOTTED WEEK ENDING: APRIL 9. 1990
TOTAL(CHECKABLE(DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
4/10/89

7/10/89

9/11/89

10/9/89

5.0
5.8
5.0
5.7
3.7
4.8
4.3

7.5
5.6
6.4
3.4
5.0
4.3

5.2
6.4
2.8
4.8
3.9

AVERAGE OF FOUR WEEKS ENDING:

11/6/89 12/11/89

1/8/90

2/12/90

2.5
1.6

6.6

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/11/89
10/ 9/89
11/ 6/89
12/11/89
1/ 8/90
2/12/90
3/12/90
4/ 9/90

-2.2
-0.9
0.3
0.6
1.5
0.6
1.6
1.5


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

5.5
1.2
4.0
3. 1

0.4
4.5
3.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

PERCENT
12.0

12.0 i—

—

PRIME B/
LOAN RA'

CORPORATE
Aaa BONDS

3 17

3 17 31

FEB

MAR

14 28

APR

12 26

MAY

0 23

JUN

7 21

4 18

JUL
1989

AUG

1

13 28

SEP

13 27

OCT

10 24

NOV

8 22

DEC

5

18

JAN

2

16

FEB

2

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: APRIL 20,

1990
FEB.

MAR.

APR.

2
9
16
23
2
9
16
23
30
6
13
20 *
27

16 30 13 27

MAR
1990

APR

1990.

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
AM BONDS

CORPORATE
BM BONDS

MUNICIPAL
BONDS xx

8.20
8.22
8.20
8.24
8.25
8.29
8.42
8.38
8.35
8.37
8.35
8.34

8.22
8.23
8. 19
8.22
8.23
8.29
8.35
8.35
8.35
8.34
8.30
8.29

8.01
8.02
8.01
8.05
8.06
8. 10
8. 19
8. 18
8. 18
8. 17
8. 14
8.15

9.15
9.22
9.21
9.27
9.26
9.35
9.40
9.39
9.37
9.38
9.38
9.42

10. 10
10. 13
10.11
10. 19
10.20
10.24
10.22
10. 17
10.20
10.22
10. 18
10.22

7.24
7.20
7.16
7.27
7.25
7.25
7.32
7.31
7.33
7.33
7.31
N. A.

NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 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

AVERAGES OF DAILY RATES

PERCENT

10.0

FEDERAL
FUNDS RATE

5-YEAR
TREASURY SECURITIES

DISCOUNT RATE

3 17

3

17 31 APR
14 28 MAY
12 28

8 23

7 21
JUL

4 18
AUG

1

15 29 13 27

OCT

10 24

NOV

8 22

5 18

JAN

2

18

FEB

2

18 30 13 27

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi APRIL 20, 1990.

1990
FEB,

MAR.

APR.

2
9
16
23
2
9
16
23
30
6
13
20 X
27

FEDERAL
FUNDS X*
8.24

8.22
8.21
8.25
8.27
8.28
8.27
8.27
8.26
8.33
8.25
8.27

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL mat

l-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

7.76
7.80
7.66
7.74
7.76
7.91
7.96
7.93
7.85
7.77
7.78
7.77

7.73
7.72
7.65
7.77
7.70
7.79
7.89
7.92
7.83
7.81
7.80
7.75

7.54
7.58
7.50
7.61
7.58
7.76
7.81
7.76
7.75
7.71
7.70
7.78

8.39
8.44
8.36
8.53
8.44
8.59

8.61
8.63
8.58
8.75
8.67
8.74
8.79
8.65

8.68
8.60
8.57
8.59
8.60
8.74

8.68
8.72
8.72
8.89

NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.15 RELEASE EXCLUDING LONG-TERM TREASURY
* AVERAaSUOFTRATESHAVAILABLE°MPUTED BY ™IS BANK‘
TREASURY BILL YIELDS ARE ON A DISCOUNT BAS IS.
aew SEVEN-DAY AVERAGES FOR WEEK ENDING TWO DAYS EARLIER THAN DATE SHOWN
*8« AUCTI ON AVERAGE ( DISCOUNT )


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
3300 --------- 1--------- 1------

3250

BILLIONS OF DOLLARS
—i--------- ------------ 3300

— MAR.

3266.7
3266.3
3267.7

3275

— APR.

3269.3

3250

3200

3200

3175

3175

3150

3150

3100

3075

6 20

6 20

9

FEB

MAR

APR

17

I

15 20 12 26 10 24

MAY

JUN

JUL

7 21

4

AUG

SEP

16

2

16 50 19 27

OCT

NOV

II

DEC

25

8 22

JAN

1989

5 10

5 19

FEB

MAR

2

16 90

APR

1990

LATEST DATA PLOTTED WEEK END INGt APRIL 9,

1990

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE
M2 IS THE SUM OF Ml. OVERNIGHT RPS ISSUED BY ALL COMMERCIAL BANKS, OVERNIGHT EURODOLLARS ISSUED
TO U.S. RESIDENTS B^ FORE IGN 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 )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
4/10/89

7/10/89

9/11/89

10/9/89

5. 1
5.3
5.6
5.8
5.9
5.9
6. 1
5.9

7.5
7.5
7.5
7.3
7. 1
7.3
6.9

7.0
7.2
7.0
6.7
7.0
6.6

7.5
7. 1
6.7
7. 1
6.6

11/6/89 12/11/89

1/8/90

2/12/90

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/11/89
10/ 9/89
11/ 6/89
12/11/89
1/ 8/90
2/12/90
3/12/90
4/ 9/90


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

6.9
6.5
7.0
6.4

6.0
6.9
6.1

7. 1
6. 1

6.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ALL DEPOSITORY INSTI TUT IONS
TOTAL TIME DEPOSITS 1/
LARGE TIME DEPOSITS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
2160

BILLIONS OF DOLLARS
2160

I—1-------1--------1---------1—
COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
APRIL
9. WEEKS
1990 FROM
THE FOU&
ENDING:

~
_

10 ,

2130
TOTAL TIME

-1
-i.;
-1 .2
-o.:
-0.2
o.:
2.

)EPOS TS

N

J..U. .i..i i. 11.1.1

111

INI

111

BILLI J2U5.
5

2103 .9

19

2103.2
2100.7
2097.3
2101.8

26
2
9

“
_

“
111111111111111113
APR.

i l-LL

V

=/"

1

1990
MAF .

1

-

1

AP R.

1990
199o
1989
1989
198 9
9
1989

_______

12,
8,
11,
6,
9,

>

“
-

FEB.
JAN.
DEC.
NOV.
OCT.

i i i i

“
-

k

_

111 .l-U I _1_1_L

LATEST DATA PLOTTED WEEK ENDING: APRIL 9, 1990
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

1520.
LARGE TIME DEPOSITS

BILLIONS

MAR.

542.0
539.3

540.8

6 20

6 20

3

FEB

MAR

APR

17

1

15 29 12 20 10 24

7 21

4 18

AUG

SEP

2 16 30 IS 27 11 25

NOV

1989
LATEST DATA PLOTTED WEEK ENDING: APRIL 9,

DEC

8 22

5 19

5 19

2 16 50

FEB
MAR
1990

1990

1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIIC DEPOSITS AND LARGE TIME DEPOSITS.
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
billions of dollars

1990
*R.
PR.

AVERAGES OF DAILY FIGURES

billions of dollars

MILLIONS
14

21

2130

2226

28 2164
4 2150
11 2014
18 1750
TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGt APRIL 18. 1990
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

2.5
128ft

MILLIONS

2.0

ADJUSTMENT + SEASONAL
BORROWINGS

1 .5

0.5

1

15 29 12 20 10 24

7 21

5 19

JUN

JUL

2 16 50 IS 27

SEP

11

OCT

25

8 22

6 20

5 17 51

14 28 14 28 II

FEB

25

MAR

LATEST DATA PLOTTED WEEK ENDINGt APRIL 18. 1990


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

PREPARED BY FEDERAL RESERVE BANK OF ST

LOUIS

0.0

7

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS

of dollars

MILLIONS
MAR.

145

7
140,040

140

142,111
APR.

4
146,550

135
130

115

110

I

15

1

15 29 12 26 10 24

7 21

5 10

JUN

JUL

2 16 30 13 27

SEP

11

25

8 22

6 20

3 17 31

OCT

14 28 14 28 1

FEB

MAR

APR

LATEST DATA PLOTTED WEEK ENDING. APRIL II. 1900
* DASHED LINE REPRESENTS DATA USING AN OLD REPORTING PANEL AND IS NOT COMPARABLE TO CURRENT DATA.

BUSINESS LOANS 17

( COMMERCIAL

AND

INDUSTRIAL )

WEEKLY REPORT ING LARGE COMMERClAL BANKS 2/
BILLIONS OF DOLLARS
330
k
1
1
- COMPOUNDED ANNUAL RAT ES
_ OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
- APRIL 4. 1990 FROM
_ THE FOUR WEEKS ENDING
_ FEB.
JAN.
“ DEC.
_ NOV.
OCT.

7, 1990
3. 1990
6, 1989
1, 1989
4, 1989

. 5,Vi

- APP .

989

SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
330
-

1.9
0.2
-1.5
-3.0
-1.7

rV

w

2.6

L

Av\
A

^

\7^

V

/ :
-

_
if

“in

1990
FEB. 2 8
MAR. 7
14
21
28
APR. 4
-U11

111

Mil

111

111

1111

MAR

APR

MAY

JUN

JUL
1989

AUG

J-l-M 111

16 30 13 27

FEB

LATEST DATA PLOTTED WEEK ENDING. APRIL 4,

SEP

II

-UXL -LUJ i

25

OCT

6 22

NOV

S 20

DEC

1 ILL IQ

I

21,06 4

-

3
320,282
323,012
320,138
322,069

-

m
...................................... ;
17 31 14 28 14 26
JAN

FEB
MAR
1990

APR

1990

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

DOLLAR'S TRADE-WEIGHTED EXCHANGE
AVERAGES OF DAILY FIGURES

INDEX

1973-100

laHrlQQ
94.2
94.5
93.6
93.2

I I I I
I 15
FEB

I 15 29 12 26 10 24
MAR
APR
MAY

7 21
JUN

5 19
JUL

2 16 30 13 27 II 25 6 22
AUG
SEP
OCT
NOV

6 20
DEC

1989
LATEST DATA PLOTTED WEEK ENDINGt APRIL 18,
NOTE:

3 17 31 14 28 14
JAN
FEB
MAR

APR

1990
1990

CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR'S H.10 RELEASE.

DATA ARE WEIGHTED AVERAGES OF THE FOREIGN-CURRENCY PRICE OF THE U.S. DOLLAR, COMPUTED USING
10 INDUSTRIAL COUNTRY CURRENCIES.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS