Full text of U.S. Financial Data : April 25, 1996

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April 25, 1996

RESEARCH LIBRARY

FetiTrJl F^er^li^mk
lol a^LoJisITli

mi
I IIH RAI
A KI SI KM .
BANK of

M. IDI LS

MAR 0 2 m
THE WEEK'S HIGHLIGHTS:
✓ Advance new orders for manufactured durable goods rose 1.4 percent
in March, or by $2.3 billion. Durable goods orders rose 0.1 percent
in the first quarter, down markedly from the 5.9 percent gain over
the last half of1995. Shipments offinished goods, on the other
hand, fell 1.1 percent in the first quarter. The value of orders and
shipments is not adjusted for inflation.
✓ A 2 percent increase in exports and a 0.5 percent drop in imports
caused the U.S. goods and services trade deficit to decline
$1.7 billion in February to $8.2 billion. Measured from a year
earlier, the value of exports has increased 9.8 percent, while imports
have risen 6.7 percent. Trade data is not adjustedfor inflation.
✓ A 7.1 percent jump in petroleum prices caused the index of U.S.
import prices to rise 0.5 percent in March. Prices ofpetroleum
imports have surged 16 percent since November 1995 and are up
10.9 percent from a year earlier. Import prices are not seasonally
adjusted.
✓ Bank credit rose at a 0.8 percent annual rate from the average of
the four weeks ending on Feb. 7 to the average of the four weeks
ending on April 10. Bank credit had risen at a 5.6 percent rate
from the average of the four weeks ending on Aug. 9, 1995, to the
average of the four weeks ending on Feb. 7 (see page 10).
All data are seasonally adjusted unless otherwise indicated.
U.S. Financial Data is published weekly by the Research Division of the Federal Reserve Bank
of St. Louis. The cost for a subscription is $21 for one year (50 issues) or $36 for two years (100 issues).
For more information on data, please call (314) 444-8590. To request an order form, please call
(314) 444-8808 or (314) 444-8809. Sorry, no refunds.
Information in this publication is also included in the Federal Reserve Economic Data (FRED) electronic
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Federal Reserve Bank of St. Louis

2
Adjusted Monetary Base
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars
Feb 14
Mar 13
Apr 10

Billions of Dollars

Billions
470.4
471.5
471.8
475.0
473.0
472.6

1 15 29 12 26 10 24 7 21 5 19 2 16 30 13 27 11 25
Aug
Sep
Oct
Apr
May
Jun

22 6 20 3 17 31 14 28 13 27 10 24 8 22
Apr
May

The adjusted monetary base is the sum of reserve accounts of financial institutions at Federal Reserve bonks,
currency in circulation (currency held by the public and in the vaults of all depository institutions) and on
adjustment for reserve requirement ratio changes. The mojor source of the adjusted monetary bose is Federal
Reserve credit. Data are computed by this bonk. A detailed description of the odjusted monetary bose is
available from this bank.
Recent data ore preliminary.

Adjusted Monetary Base
To the overoae of
two maintenance
periods ending:

Compounded onnuol rotes of chonge, overage of two mointenonce periods ending:
4/26/95

7/19/95

9/27/95 10/25/95 11/22/95 12/20/95

9/27/95

1.6

10/25/95

1.9

2.3

11/22/95

1.1

0.9

-0.3

12/20/95

1.6
1.7

1.7

1.6

1.8

1.9

0.6
1.3

1.4

1.3

1.1

0.6

1.9

0.6

1.8
1.5

1.9
1.6

2.0
1.5

1.7
1.2

3.0
2.1

2.3
1.4

1/17/96
2/28/96
3/27/96
4/24/96


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

1/17/96

2/28/96

4.1

Prepared by Federol Reserve Bonk of St. Louis

Money Stock(M1) and Total Checkable Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Apr

1

Billions of Dollars

Billion*
1123.7
1130.2
1126.4
1127.6
1125.2
1124.7

Apr

Billions
740.6
746.0
741.8
742.9
740.0
740.6

1

(left scale)

TCD (right scale)

Apr

Moy

Jun

Jul

Aug

Sep

Oct

Feb

Mor

Apr

Moy

1996
Ml is the sum of currency held by the nonbank public, demand deposits, other checkoble deposits and travelers
checks. Total checkable deposits is the sum of demand deposits ond other checkable deposits at depository
institutions. Current data appear in the Federal Reserve Board's H.6 release.

Money Stock (M1)
„
To the overoge
of four weeks
ending:

Compounded annual rates of change, average of four weeks ending:
4/17/95

7/17/95

10/16/95

-1.6
-2.7

-3.7

11/13/95

-3.0

-3.9

-6.8

12/18/95

-3.1

-3.9

-5.6

-4.2

1/15/96

-3.1

-3.8

-5.1

-3.9

-3.5

2/12/96
3/18/96

-3.5

-5.5

-4.7

-4.7

-5.4

-2.3

-4.3
-2.5

-3.0

-1.8

-1.2

-0.2

4/15/96

-2.1

-2.2

-2.5

-1.5

-0.9

0.0

9/18/95


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

9/18/95 10/16/95 11/13/95 12/18/95

1/15/96

2/12/96

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Seasonally Adjusted
Billions of Dollars
Jon 31
Feb 14

110- Uor 13
Apr 10

Billions of Dollars

Billions
96.9
97.6
98.0
97.5
99.5
97.0

'I'l
15 29 12 26 10 24 7 21 5 19 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 13 27 10 24 8 22
Mar
Apr
Moy
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
Feb Mar
Apr
May
1995

1996

Adjusted reserves is the difference between the adjusted monetary base ond the currency component of Ml.

Adjusted Reserves
To the average of
two maintenance
periods ending:
9/13/95

Compounded annual rotes of change, overage of two maintenance periods ending:
4/12/95

7/5/95

9/13/95 10/11/95

11/8/95

12/6/95

1/3/96

10/11/95

-3.0
-3.1

-1.8

11/8/95

-4.4

-4.3

-8.2

12/6/95

-4.7

-4.7

-7.6

-9.4

1/3/96

-4.6

-4.5

-6.7

-7.6

-5.2

2/14/96

-4.4
-3.2

-5.8

3/13/96

-4.4
-3.5

-4.0

-6.3
-4.0

-4.5
-2.0

-3.7
-0.8

0.5

4/10/96

-2.8

-2.2

-2.6

-2.4

-0.5

0.9

2.3


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

2/14/96

6.9

Prepared by Federol Reserve Bonk of St. Louis

Money Multiplier
Averages of Daily Figures
3.0

Seasonally Adjusted

Ratio
Compounded annual rate s
of change, overage of
the four weeks ending
April 8, 1996, from
the four weeks ending:

2.0

J u1
Oct
Nov
Oec
Jon
Feb

17.
9 .
20,
18.
15,
12,

1995
1995
1995
1995
1996
1 996

-4
-3
-3
-2
-0
0

.
.
.
.
.
.

Ratio
1996
Jon 2$
Feb 12
2
Mar 1
if:
Apr

1
8
5
4
7
8

Ratio
2.373
2.375
2.367
2.389
2.376
2.381

3.0

2.8

2.6

2.6

2.4

2.4

2.2

20 3 17
Mor
Apr

15 29 12 26 10 24 7 21 4 18
Moy
Jun
Jul
Aug
Sep

*15"29 13'2 2.2

16 3 M3 27 l'l' 25 8 ’ 22 5 ' 19' 4 18 ’
Oct
Nov
Dec
Jon
Feb
Mor

Apr

Moy

1995
Ratio of M1 to adjusted monetary base.

Currency Component of M1
Billions of Dollars

390-]-----------------------------■-----------Compounded annual rates
of change, overage of
the four weeks ending
April IS. 1996, from
the four weeks ending:
380- Apr 1 7. 1 995
3 .
Oct
Nov
Oec
Jan
U U II
Feb

16.
13.
18.
15
I
.
12.

Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

199
199
199
13 3

199

Billions
Mor 1
375.7
Apr

20 3

17

Apr

I

15 29 12 26 10 24

7 21

4

18

Moy

Apr

1995
Current doto appear in the Federal Reserve Board's H.6 release.


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

1

Moy

1996
Prepored by Federal Reserve Bonk of St. Louis

5

6
Yields on Selected Securities
Averages of Daily Figures
Percent

Percent

Prime Rate

Corporate
Aaa Bonds

Commercial
Paper

Municipal Bonds

3 17 31 14 28 12 26
Mar
Apr
May

Jun

7 21 4 18
Jul
Aug

15 29 13 27 10 24 8 22 5 19 2 16 1 15 29 12 26 10 24
Sep
Oct
Nov
Dec
Jan
Feb
Mar
Apr
May

1995

1996
Feb

2
9
16
23
Mor
1
8
15
22
29
Apr 5
12
19
26

30-Day
Commercial
Paper

90-Day
CDs

5.42
5.28
5.29
5.28
5.30
5.31
5.37
5.44
5.48
5.42
5.42
5.39
5.38

5.23
5.15
5.13
5.14
5.16
5.19
5.31
5.33
5.34
5.34
5.39
5.36
5.34

1996

90-Day
Bankers'
Acceptances
5.14
5.06
5.05
5.07
5.09
5.11
5.23
5.26
5.26
5.26
5.31
5.28
5.26

Corporate
Aaa Bonds

Corporate
Boo Bonds

6.82
6.87
6.86
7.13
7.20
7.21
7.42
7.41
7.39
7.41
7.60
7.50
7.47

7.46
7.50
7.50
7.77
7.86
7.90
8.10
8.10
8.09
8.12
8.30
8.19
8.15

Municipal
Bonds *•
5.40
5.37
5.33
5.48
5.57
5.59
5.81
5.86
5.90
5.86
6.03
5.94
NA

Current data ore from the Federal Reserve Board's H.15 release, ond ore overages of rotes available for the
week ending on April 26. 1996 .
•• Bond Buyer's Average Index of 20 municipal bonds, Thursday doto
NA - Not Avoiloble
_
.. _ . . Prepored by Federol Reserve Bonk of St. Louis


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

Selected Interest Rates
Averages of Daily Figures
Percent

Percent

10-Year
Treasury Securities

Federal
Funds Rate

Discount Rote
3-Month
Treasury Bill

3

17 31 14 28 12 26

9 23 7 21 4 18

15 29 13 27 10 24

Sep

1996
Feb

2
9
16
23
Mar
1
8
15
22
29
Apr 5
12
19
26 •

Federal
Funds ••
5.53
5.21
5.09
5.17
5.31
5.57
5.24
5.36
5.22
5.30
5.08
5.24
5.24

5

19

2

16

15 29 12 26 10 24

Oct

3-Month
Treasury
Bill 7

1 -Year
Treasury
Bill

5-Yeor
Treasury
Securities

10-Year
Treasury
Securities

4.93
4.81
4.79
4.82
4.87
4.89
4.97
5.00
5.00
5.01
4.97
4.85
4.95

4.69
4.61
4.57
4.78
4.87
4.89
5.13
5.15
5.13
5.13
5.31
5.21
5.19

5.28
5.27
5.20
5.52
5.65
5.71
6.06
6.08
6.08
6.14
6.42
6.32
6.31

5.64
5.67
5.65
5.97
6.06
6.08
6.37
6.36
6.32
6.35
6.60
6.52
6.52

Long-Term
Treosury
Securities

6.00
6.04
6.03
6.35
6.43
6.46
6.72
6.72
6.70
6.74
6.96
6.88
6.87
Except for Iona-term Treasury securities, which ore computed by this Bonk, current doto oppeor in the Federol
Reserve Board s H.15 release.
• Averages of rotes avoiloble
•• Seven-doy overages for week ending two doys earlier than date shown
Prepored by Federal Reserve Bonk of St. Louis


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

7

8
Money Stock(M2) and Non-M1 Components of M2
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars
Billions
3720.1
3730.5
3721.7
3726.1
3737.

Mar 11

Apr

1

Billions of Dollors

M2 (left scale)

Non-M1 M2 (right scale)

Non-M1 M2
Billions
2596.4
2600.3

Mar 11

-9400

2599.2
2611.9
2616.0
6

20

3

17

Apr

I

15 29 12 26 10 24

May

7 21 4

Aug

Jun

18 2

Sep

16 30 13 27 11 25 8 22 5

Oct

19 4

Feb

18

Mar

1

15 29 13 27

Apr

May

M2 is the sum of Ml, savings (including money market deposit occounts), smoll time deposits and retail money
funds. Current data appear in the Federol Reserve Board's H.6 release.

Money Stock (M2)
To the averoqe
of four weeks
ending:
9/18/95

Compounded onnuol rotes of change, overage of four weeks ending:
4/17/95

7/17/95

9/18/95 10/16/95 11/13/95 12/18/95

1/15/96

2/12/96

6.6

10/16/95

6.1

11/13/95

5.5

4.5

2.6

12/18/95

5.5

4.6

3.5

3.7

1/15/96

5.6

5.0

4.4

4.8

6.0

2/12/96
3/18/96

5.3
5.9

4.5
5.5

3.8
5.3

4.0
5.7

4.6
6.6

4.3
7.2

7.2

4/15/96

5.9

5.5

5.3

5.7

6.3

6.7

6.6


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

5.2

Prepared by Federal Reserve Bonk of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Savings

Small Time
Billions
928.9
927.3
926.5
925.9
926.1
925.1

1996

Apr

1

1 182.1
1183.5
1180.1
1184.1
1 196.1
1 197.1

Smoll Time (right scale)

Savings Deposits (left scale)

15 29 U 27

Apr

Moy

Jun

Aug

Sep

Oct

Apr

May

Sovings deposits and smoll time deposits ore ot oil depository institutions.

Large Time Deposits and Retail Money Funds
Averages of Daily Figures
Billions of Dollars

seasonoiiy Adjusted

Large Time
1996
Billions
Mor 11
426.0
429.4
550430.6
431.4
430.8
428.8

Billions of Dollars
Retail Money
1996
Billions
Mar 11
485.4
489.5
488.7
489.2
489.7
493.9

550

Retail Money

Large Time

8 22 5 19 4 18 1 15 29 13 27'
1995
1996
Lorg* time deposits and retoil money funds ore ot oil despository institutions. Large time deposits ore those
issued in denominations of $100,000 or more. Retail money funds were originally called general purpose
and broker/deoler money market funds.
Prepared by Federol Reserve Bonk of St. Louis


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

9

10
Total Borrowings
From Federal Reserve Bonks
Averoges of Doily Figures

Billions of Dollars

Billions of Dollars

Billions

Mor 20
Apr

3

0.028

1

IS 29 12 26 10 24 7 21

Mor

Apr

May

S

Jun

19 2

Jul

16 30 13 27 11 2S 8 22 6 20 3

Aug

Sep

Oct

Nov

Dec

17 31 14 28 13 27 10 24 8 22

Jon

Feb

1995
Borrowings include seasonal, adjustment and extended credit.

Mor

Apr

Moy

1996

Bank Loans and Credit
All Commercial Banks in the United States1^
Seasonally Adjusted

Billions of Dollars
Bonk Credit
Mor

Billions
3621.4
3629.7
3632.2
3640.5
3631.6
3642.5

6

3600-

Billions of Dollars

Bonk Credit (left scale)2/

Loons and Leases (right scale)

1

15 29 12 26 10 24 7 21 5

Mor

Apr

May

Jun

19 2

Jul

16 30 13 27 11 25 8 22 6 20 3

Aug

Sep

Oct

1995

Nov

Dec

Loans&Leases
Billions
Mor

6

Apr

3

2644.3
2649.8
2654.6
2657.8
2667.1
2667.1

17 31 14 28 13 27 10 24 8 22

Jon

Feb

Mor

Apr

May

1996

Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign-reioted institutions
2/ Includes loons and looses and securities


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

Prepored by Federal Reserve Bonk of St. Louis

Commercial Paper of Nonfinancial Companies
Not Seasonally Adjusted

Billions of Dollars
Mor 13
Apr

3

Billions of Dollars

189.396
198.690
193.575
194.159
194.739
203.140

- 180

1995

Commercial and industrial Loans
Seasonally Adjusted
Billions of Dollars

Billions of Dollars 420

All Bonks
Billions
725.5

740-

400

727.7
Apr

3

All Bonks (left scole)1 /

730.4
380

360

Lorge Banks (right scale)^/

Large Bonks
Mor

6

340

351.8
351.5
320
355.0

15 29 12 26 10 24 7 21 5 19 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 13 27 10 24 8 22
1995

1996

Current doto oppeor in the Federol Reserve Board's H.8 releose.
1/ Includes foreign-reloted institutions
2/ Weekly reporting, domesticolly chartered bonks


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Federal Reserve Bank of St. Louis

11

Prepored by Federol Reserve Bonk o< St. Louis

300

Dollar 's Trade - Weighted Exchange Index
Averages of Daily Figures
1973=100

1973=100

I

15 29 12 26 10 24

7 21

5

19 2

15 50 13 27 11 25 S 22 6 20 3

17 31 14 28 13 27 10 24

Current data appear in the Federal Reserve Board's H.10 release. Data ore weighted averages of the foreign-currency
price of the U.S. dollar, computed using 10 industrial country currencies.


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

Prepored by Federal Reserve Bonk of St. Louis

5m

9

*
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