Full text of U.S. Financial Data : August 10, 1995

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Q, 19-9$

Federal Reserve Bank
THE
FEDERAL

UlFinancial Data

a

reserve

It.INK of

tfrsY.unis

THE WEEK'S HIGHLIGHTS:
✓ The producer price index for finished goods (PPI) was unchanged
in July after falling at a 0.9 percent annual rate in June. Over the
last six months, the PPI has risen at a 1.1 percent rate, down from
a 2.6 percent rate over the previous six months.
%/ Business sector productivity (output per hour) increased at a
3 percent rate in the second quarter after rising at a 2 percent rate
in the first quarter. Output rose at a 0.5 percent rate in the second
quarter, while hours worked fell at a 2.5 percent rate, the first
decline in more than three years.
%/ Nonfarm payroll employment rose at a 0.6 percent rate in July,
or 55,000, following a 2.6 percent rate of increase in June. Since
March, payroll employment gains have averaged 62,750 a month,
compared with an average gain of218,750 over the previous
four months.
Consumer installment credit outstanding increased $9.6 billion
in June, or at a 12.7 percent rate. Consumer credit rose at a
15.5 percent rate in the second quarter.
Editor’s note: The yield on 10-year Treasury securities is
now plotted on page 7.

All data are seasonally adjusted unless otherwise indicated.

U.S. Financial Data is published weekly by the Research and Public Information Division of the
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$36 for two years (100 issues). For more information or to request an order form, please call
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Federal Reserve Bank of St. Louis

2
Adjusted Monetary Base
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1

1995

Billions

May 24
Jun 7

469.3
468.8
466.7
466.4
466.8
466.9

Jul

5

Aug

2

15 29 13 27 10 24
Jun
Jul Aug

Billions of Dollars

7 21 5 19 2 IS 30 14 28 11 25 I 22 8 22 5 19 3 17 31 14 28 12 2S
Sep Oct
Nov Dec
Jan Feb Mar Apr May
Jun
Jul
1994

9 23
Aug

1995

Latest data plotted reserve maintenance period ending: August 2, 1995
The adjusted monetary base is the sum of reserve accounts of financial institutions at Federal Reserve banks,
cun-ency 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.
Recent data are preliminary.

Adjusted Monetaiy Base
Compounded annual rates of change, average of two maintenance periods ending:
To the average of
8/3/94 10/26/94 1/4/95
2/1/95
3/1/95
3/29/95 4/26/95
6/7/95
periods ending:
1/4/95
2/1/95
3/1/95
3/29/95
4/26/95
6/7/95
7/5/95
8/2/95

5.2
6.1
6.3
6.0
6.0
6.1
5.0
4.7


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

6.0
6.3
5.8
5.9
6.1
4.6
4.2

9.3
7.4
7.2
7.0
4.8
4.3

5.5
5.8
6.1
3.6
3.2

5.0
5.7
2.8
2.5

6.6
2.6
2.2

1.1
1.0

-3.0

Prepared by Federal Reserve Bank of St. Louis

Money Stock (Ml) and Total Checkable Deposits
Averages of Daily Figures

Billions of Dollars

1190

l

Billions of Dollars

I

M1
1995 Billions

1170

r~ 815

i

Jun 26 1144.7
Jul 3 1142.8
10 1144.1
17 11 41.0
24 11 42.4
31 11 50.3

TCD

,

1995

Billions

Jun 26
Jul 3

767.9
767.3

7
24
31

76 5.4
76 5.5
77 3.5

825

Ml (left s< 'ale)

1150

805
t

*

\

r-~N

\

1130

*

■\

_____

✓/

T /D (rig it scale )

785

!
i.
\
•v _
—

1090

!

Jun

A

Jul

1

765

1 1 1 i » i • ‘i • i • r • 1 •

15 29 12 26 10 26 7 21 5 19 2 16 30 13 27 13 27 10 26 8 22 5 19 3 17 31 16 28
Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
Apr May
Jun
Jul
Aug
1994

1995

Latest data plotted week ending: July 31, 1995
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.
r
Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.

Money Stock (Ml)
Tr> the nu.™.
Compounded annual rates of change, average of four weeks ending:
o?fourweTks
8/1/94 10/31/94 1/2/95 1/30/95 3/6/95
4/3/95
5/1/95
5/29/95
ending:
1/2/95
1/30/95
3/6/95
4/3/95
5/1/95
5/29/95
7/3/95
7/31/95

-1.1
-0.6
-0.9
-0.6
-0.3
-1.0
-0.8
-0.7


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Federal Reserve Bank of St. Louis

0.6
-0.4
0.1
0.3
-0.8
-0.5
-0.4

-0.4
0.3
0.7
-1.0
-0.6
-0.4

-0.7
0.1
-1.8
-1.1
-0.9

1.9
-1.4
-0.6
-0.4

-3.1
-1.5
-1.0

-2.9
-1.9

0.9

Prepared by Federal Reserve Bank of St. Louis

3

745

4
Adjusted Reserves
Billions of Dollars

1995

Seasonally Adjusted

Billions

May 24
-Jun 7

1

Jul

5

Aug

2

Billions of Dollars

100.8
100.5

99.4

15 29 13 27 II 24 7 21 5 19 2 II 30 H 28 11 25 I 22 8 22 5 19 3 17 31 14 21 12 21 9 23
Jun
Jul
Aug
Sep Oct
Nov Dec
Jan
Feb Mar Apr May Jun
Jul
Aug
1994
1995

Latest data plotted two weeks ending: August 2, 1995
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
To the average of
two maintenance
periods ending:
1/4/95
2/1/95
3/1/95
3/29/95
4/26/95
6/7/95
7/5/95
8/2/95

Compounded annual rates of change, average of two maintenance periods ending:
8/3/94 10/26/94 1/4/95
2/1/95
3/1/95
3/29/95 4/26/95
6/7/95

-4.3
-2.5
0.3
-3.0
-3.4
-2.7
-4.0
-3.1


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Federal Reserve Bank of St. Louis

-4.6
0.6
-4.5
-5.0
-3.8
-5.3
-4.0

14.3
-0.4
-2.2
-1.2
-3.7
-2.2

-4.4
-5.4
-3.1
-5.7
-3.7

-16.4
-9.0
-10.8
-7.6

-2.0
-6.5
-3.4

-6.1
-2.2

-5.1

Prepared by Federal Reserve Bank of St Louis

Money Multiplier1/
Averages of Daily Figures
Seasonally Adjusted

Ratio

3.1

2.3 .

2.7

Ratio

I

Compounded anni 0,
rates of change,
average of the fou r
weeks ending
July 31, 1995 fron
the four weeks enc
Aug 1, 1994 - 5.1
Oct 24. 1994 -\.7
Jan 30. 1995 - . 2
Feb 27, 1995 - 3.3
Mar 27. 1995 - 3.5
Apr 24, 1995 - 2.8
Ju i 5, 1995
3.8

I

1995

3.1

Ratio

May 22
Jun 5

2.436
2.438

Jul

2.4 53
2.4 48
2.4 56

3
7
51

2.9

2.7

2.5

2.5

2.3

2.3

6 20 4 18 1 15 2) 12 26 10 24 7 21 5 IS 2 16 30 13 27 13 27 10 24 8 22 5 IS 3 17 31 14 28
Jun
Jul
Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
Apr May
Jun
Jul
Aug
1994

1995

Latest data plotted two weeks ending: July 31. 1995

Currency Component of Ml2/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

380

Billions of Dollars

380

---1------ 1-----Compounded
annu al

370 •

rates of change,
average of the fou r
weeks ending
July 31, 1995 fron
the four weeks enc ing:

300
Ap
3,
Ma y 1.
Ma v 29.

7.0
5.5
5.1
5.7
995
3.1
995
1.1
995 - 1.7

370

Aug 1. 1994
Oct 31, 1994
Jan 30, 1995

■

350

350

340

199 5

MILpns

Jun 26
Jul 3
10
17
24
31

36‘ 7.8
36 5.6
366.3
366.7
367.1
367.9

11

330

6 20 4 18 1 15 2S 12 26 10 24 7 21 5 13 2 16 30 13 27 13 27 10 24 8 22 5 19 3 17 31 14 28
Jun
Jul
Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
Apr
May
Jun
Jul
Aug
1994

1995

Latest data plotted week ending: July 31. 1995
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

340

330

6

Yields on Selected Securities
Percent

Percent

Averages of Daily Figures

Corporate
Aaa Bonds

Prime

3 17 I IS 29 12 2$ 9 23
Jun
Jul
Aug Sep
1994

7 21 4 II 2 IS 30 13 27 10 24 IS 24 7 21 5 19 2 IS 31 14 21 11 25
Oct
Nov Dec
Jan
Feb Mar Apr May
Jun
Jul
Aug
1995

Latest data plotted are averages of rates available for the week ending: August 11, 1995

1995

30-Day
Commercial
Paper

90-Day
CDs

90-Day
Bankers'
Acceptances

6.06
6.05
6.04
6.01
6.05
6.07
6.09
6.01
5.82
5.82
5.84
5.85
5.85

6.03
6.00
5.91
5.88
5.93
5.91
5.91
5.85
5.73
5.75
5.77
5.75
5.75

5.91
5.89
5.82
5.79
5.83
5.81
5.79
5.70
5.62
5.66
5.66
5.65
5.65

May

19
26
2
9
16
23
30
Jul
7
14
21
28
Aug
4
11 ♦
Jun

Corporate
Aaa Bonds
7.60
7.51
7.33
7.28
7.37
7.27
7.31
7.29
7.26
7.48
7.56
7.57
7.55

Corporate
Baa Bonds

Municipal
Bonds ***

8.15
8.07
7.91
7.87
7.97
7.87
7.91
7.90
7.88
8.13
8.19
8.19
8.18

5.92
5.83
5.79
5.75
5.86
5.82
5.97
5.91
5.81
5.99
5.97
6.03
NA

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


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

Selected Interest Rates
Percent

Percent

Averages of Daily Figures

O-Year

Funds

3 17 1 15 2! 12 21 9 23 7 21 4 II 2 If 30 13 27 II 24 10 24 7 21 5 IS
Jun
Jul
Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
Apr May
1994
1995

If 30 14 21
Jun
Jul
Aug

Latest data plotted are averages of rates available for the week ending: August 11, 1995

1995
May 19
26
Jun
2
9
16
23
30
Jul
7
14
21
28
Aug
4
11 *

Federal
Funds **
6.02
5.99
6.02
6.03
6.02
6.00
5.95
6.21
5.81
5.72
5.75
5.83
5.73

3-Month
Treasury
Bill

1 —Year
Treasury
Bill

5—Year
Treasury
Securities

10-Year
Treasury
Securities

Long-Term
Treasury
Securities

5.69
5.69
5.55
5.56
5.48
5.42
5.43
5.43
5.39
5.43
5.44
5.42
5.39

5.64
5.59
5.38
5.37
5.35
5.29
5.33
5.23
5.17
5.31
5.39
5.36
5.36

6.40
6.28
5.98
5.96
5.96
5.86
5.95
5.85
5.81
6.11
6.21
6.19
6.19

6.59
6.49
6.23
6.20
6.21
6.10
6.17
6.12
6.09
6.37
6.46
6.48
6.47

6.89
6.81
6.59
6.55
6.59
6.49
6.53
6.51
6.47
6.75
6.81
6.83
6.83

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


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

Prepared by 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

1995

Billions of Dollars

M2
Billions

Jun 26 3699.8
Jul 3 3699.6
10 3704.8.
17 3704.9
24 3714.8
31 3720.2

M2 (left scale)

Non-M1 M2
1995 Billions

Non-M1 M2 (right scale)

t 20 4
Jun

18 1
Jul

Jun 26 2555.1
Jul 3 2556.8
10 2560.7
17 2563.9
24 2572.4
31 2569.9

15 20 12 20 10 24 7 21 5 IS 2 10 30 13 27 13 27 10 24 8 22 5 IS 3 17 31 14 20
Aug

Sep
1994

Oct

Nov

Dec

Jan

Feb

Mar

Apr
May
1995

Jun

Jul

Aug

Latest data plotted week ending: July 31, 1995
Current data appear in the Federal Reserve Board's H.6 release.
M2 is the sum of M1, overnight RPs issued by all commercial banks, overnight Eurodollars issued to U.S. residents
by foreign branches of U.S. banks, savings (including money market deposit accounts), 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:
1/2/95
1/30/95
3/6/95
4/3/95
5/1/95
5/29/95
7/3/95
7/31/95

Compounded annual rates of change, average of four weeks ending:
8/1/94 10/31/94 1/2/95
1/30/95
3/6/95
4/3/95
!
5/1/95

0.0
0.5
0.1
0.7
1.0
1.3
2.4
2.6


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

1.9
0.9
1.6
1.9
2.3
3.6
3.8

0.5
1.8
2.2
2.8
4.4
4.5

1.2
1.9
2.6
4.6
4.7

4.2
4.5
6.6
6.3

4.3
7.1
6.7

8.7
7.7

Prepared by Federal Reserve Bank of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1340 -------- 1-----------1-----------

Billions of Dollars
-----------1— 1035
Sit all Time
199 5 Billions

Savings
1995 Billions

1300
Jul
I2S0

3 1088.2
10 1090.5
17 1091.8

Jun 26
Jul 3
10
17

918.0
918.4
919.9
921.5

31 1091.6

31

92 2.1

1220

H5

955

915
Sovinc s Depo Btts(lef : scale

-<

1180

*

1140
Sm ill Thm

*

s

*

075

✓

035

(right scale)

1100

795

1060 • ■ i ■

T ' I '

Jun

Jul

755
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

.1994

Apr

May

Jun

Jul

Aug

1995

Note: Savings deposits are at all depository institutions.

Large Time Deposits and Money Market Funds1 /
All Depository Institutions

Billions of Dollars

Billions of Dollars

535 -------- 1-----------

1
Mo ney Market
199 5 Billions

Large T me
1-995 fii lions

505 “ Jun 26
Jul

475 —

r

3 88.8
3 87.0
3 91.7
3 98.8
4
404.4

3
10
17
24
31

535

26
3
0
7

- 505
429.9 —
436.4
437.3
439.5

51

44 5.4

445

475

445
f

415

Money Marfa t

305

mm m

^ *“ 1 • - S
*»

-

*

4

415

✓

•*» i

: ** -1

355

305

Large Time -

325

__

Jun

355

1 ' 1 I1Ti-1 »
.

.

Jul

Aug

Sep

Oct

Nov

Dec

Jan

1994

Feb

Mar

Apr

May

Jun

> l ■
Jul

Aug

1995

Latest data plotted week ending: July 31. 1995
1/ Large time deposits are those issued in denominations of $100,000 or more.
Money market funds are general purpose and broker/dealer.
Prepared by Federal Reserve Bank of St. Louis


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

9

325

10
Total Borrowings
From federal Keserve banks
Averages of Daily Figures

Billions of Dollars

1995

Billions

Jul

5

— Aug

2

1

IS 2!
Jun

Billions of Dollars

0.451

0.220

0.365
0.245
0.710
0.242

13 27 10 24 7 21 5 19
Jul Aug Sep Oct

2 16 30 14 28 11 25
Nov
Dec
Jan

8 22 I 22
Feb Mar

5 19 3 17 31 14 28
Apr May
Jun

12 26
Jul

9 23
Aug

1994
1995
Borrowings include seasonal, adjustment and extended credit; extended credit was $19 million in the week ending
January 25, 1995, $1 million in the week ending July 20, 1994 and was zero in the other weeks shown.

Bank Loans and Credit

y
All Commercial Banks in the United States
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

2620

3530

I
Bank
1995
3470 ~ Jun 21
28
Jul 5
12

3410

Cre dit
Bill ons
34 57.3
34 91.4
34 91.0
34 99.2

2560
/

26 35 33.8

*

#

2500

le)2/_

redit (

3350

__

*

2440
^/

4

2390

3290
s<ScLecases
5 Billi ons

3230

mm^'

Jun 21
28
Jul 5
12
19
26
' l

Loans and LiKises right cale)

✓

3170

2320

2515.5
2522.9
2525.0
2535.9__ 2260
2538.6
2544.2
' 1 ^ I 1 I

' i ' r rrrH r» H i ■ i* i • i r i*i*i

3110

1 15 29 13 27 It 24 7 21 5 It 2 It 30 14 21 II 25 I 1! I 22 5 It 3 17 31 14 21 12 2i t 23
Jun

Jul

Aug

Sep

1994

Oct

Nov

Dec

Jan

Feb

Latest Wednesday data plotted : July 26, 1995
Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign—related institutions
2/ Includes Icons and leases and securities


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

Mar

Apr

May

Jun

Jul

Aug

1995

Pr.pared by Federal Re38rve Bank of S(. ^

2200

Commercial Paper of Nonfinancial Companies
Billions of Dollars

1995
Jul

Billions of Dollars

Not Seasonally Adjusted
Billions

182.180
5 181.872
181.164
183.243
183.964.

I

IS 29 I3 27 10 24 7 21 5 18 2 IS 30 14 21 11 25 0 22
Jul

Aug

Sep
mriii

Oct

Nov

Dec

Jan

Feb

22 5 IS 3 17 31 14 28 12 2S 9 23

Mar

Apr
*

May
'

Jun

Jul

Aug

Latest data plotted week ending: August 2. 1995

Commercial and Industrial Loans

Billions of Dollars

715

Billions of Dollars

310

1
All Bankts
1995 Bill ons

695 - Jun 21
Jul

675 _

28
5
12
19
26

69 3.2
69 3.6
69 5.8
69 5.6
69 3.6
69 3.8

3(0

.1

-» — -

340

V

*
(right scale)

655

2/

✓X

320

I

ge Ba
300
Hi5 Bii_ons
Jun 21 34 2.5
28 34 2.6
Jul 5 34 4.8
12 344.5
210
19 344.4
26 344.0
______ L_

cale)^'f
Al Banka (left s

615

595

1 15
Jun

21 11 27 10 20 7 II 5 II ! It 30 It
Jul

Aug

Sep

Oct

Nov

Dec

260

II 25 0 22 I 22 5 II 1 17 31 14 21 12 21 I 23
Jan

Feb

1994
Latest Wednesday data plotted : July 26, 1995
Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign—related institutions
2/ Weekly reporting, domestically chartered banks


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Federal Reserve Bank of St. Louis

11

Mar

Apr
May
199S

Jun

Jul

Aug

Prepared by Federal Reserve Bank of St. Louis

Dollar’s Trade-Weighted Exchange Index
1973-100

1973-100

Averages of Daily Figures

1995 1973-100

Aug

I IS 29 13 27 10 24 7 21 S 19 2 IS 30 14 20 11 25 I 22 I 22 5 19
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

1994

Mar

Apr

2

3 17 31 14 20

12 21 9 23

May

Jul

Jun

Aug

1995

Latest data plotted week ending: August 9, 1995
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 using 10 industrial
country currencies.
Prepared by Federal Reserve Bank of St. Louis


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Federal Reserve Bank of St. Louis