Full text of U.S. Financial Data : August 11, 1988
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ntsra Fedeja fe&e fair lancial Data or si. louts------.__________ y ugust 11, 1988 Atlfi 1 6 1988 THE WEEK'S HIGHLIGHTS: t* Ml increased at a 7.6 percent annual rate from the four weeks ending February 29 to the four weeks ending August 1. This is nearly double the 3.9 percent rate for an equal period ending February 29 (see page 3). is The Federal Reserve raised the discount rate (the rate it charges depository institutions when they borrow from the Fed) from 6 to 6.50 percent, effective August 9. The discount rate increase, which comes after the spread between the federal funds rate and the discount rate had widened to about 175 basis points, is the first change since early September 1987. ts Commercial banks increased their prime lending rate on August 11 from 9.50 to 10 percent. This is the third increase in the prime since short- and long-term interest rates began to rise in late March (see page 6). v Payroll employment showed continued strength in July, increasing at a 3.3 percent rate from the previous month and up 3.8 percent from the previous year. THE FEDERAL >RESERVE JZk HANK of nr st. unis 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 286 ---------- ,------------- 1------ ISfifi BILLIONS OF DOLLARS ------------------------------ 286 BILLIONS. JUN. 1 276.2 AUG. 10 279.9 I I I I 3 17 II! JUN JUL 29 12 26 AUG 9 23 SEP 1987 7 21 4 18 OCT NOV 2 18 30 13 27 10 24 DEC JAN FEB 9 23 MAR 8 20 APR 4 18 MAY 1988 I 13 29 JUN 13 27 JUL 10 24 AUG LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDINGt AUGUST 10, 1988 THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL RESERYE_BANKS*_CURRENCY ... _________ ____ ICURRENCY HELD 3Y THE PUBLIC Af«.................. VAULTS OF ALL ntoLiut oru'Bxo, v.wnnc.m.1 IN.CIRCULATION___________ ....... ..... ...... .... .......... IN THE .. DEPOSITORY INSTITUTIONS) AND AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES. THE MAJOR SOURCE OF^THE.ADJUSTED_MONETARY_BASE |S FEDERAL.RESERVE CREDIT ------- ARE COMPUTED BY THIS DATA -------------------BANK. A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM THISBAf*. ------- ------------------------RECENT DATA ARE PRELIMINARY. ADJUSTED MONETARY BASE COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF TWO MAINTENANCE PER 1ODS ENDINGt 8/12/87 11/4/87 1/13/88 2/10/88 9.7 6.8 7.2 8.0 7.1 7.2 T.S, 7.2 7.8 9.0 7.4 7.5 7.6 2.9 6.0 5. 1 5.6 6.0 3/9/88 4/6/88 5/4/88 6/15/88 TO THE AVERAGE OF TWO MAINTENANCE PERIODS ENDINGt 1/13/88 2/10/88 3/ 9/88 4/ 8/88 5/ 4/88 6/15/88 7/13/88 8/10/88 7.6 9.2 7.5 7.7 8.2 7.5 7.5 7.6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10.7 7.4 7,6 7.7 6.8 7.2 7.5 5.2 6.0 8.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK (Ml ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 790 r----------- 1---------- 1------ JLSSS. JUN. JUL. 27 4 13 27 BILLIONS OF DOLLARS ----------------------------=] 790 BILLIONS 778.9 777.5 784.9 781.8 781.9 784.4 10 24 7 21 S 19 SEP OCT 2 10 90 14 29 II DEC 25 8 22 7 21 4 18 2 JAN 10 30 19 27 JUN II 25 8 22 JUL LATEST DATA PLOTTED WEEK ENDINGt AUGUST I, 1988 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.8 RELEASE. ^pilT?AaKMT^vi!!SiNSSE^D BY THE N0NBANK PUBL,C* DEMAND DEP0S,TS' 0THER CHECKABLE MONEY STOCK (Ml ) COMPOUNDED ANNUAL RATES OF CHANGE, 8/3/87 11/2/87 2.3 4.6 3.7 4.3 5. 1 4.2 4.8 5.3 1 .8 0.9 2.4 3.9 2.8 3.9 4.6 1/4/88 AVERAGE OF FOUR WEEKS ENDING: 2/1/88 2/29/88 4/4/88 3.3 6.0 3.6 5. 1 6. 1 9.6 5.4 6.8 7.6 4.0 6.4 7.6 5/2/88 5/30/88 TO THE AVERAGE OF FOUR WEEKS ENDING'. 1/ 4/88 2/ 1/88 2/29/88 4/ 4/88 5/ 2/88 5/30/88 7/ 4/88 8/ 1/88 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 7.6 7.6 8.7 6.2 7.0 7.6 4.0 6.2 10.9 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4 MONEY MULTIPLIERi/ CURRENCY COMPONENT OF MONEY STOCK 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO 3.0 Ml MULTIPLIER 15 29 19 27 10 24 7 21 5 19 2 10 90 14 28 11 DEC 25 8 22 LATEST DATA PLOTTED TWO WEEKS ENDINGt JULY 25, 7 21 4 MAR JAN APR 18 2 18 90 19 27 JUN 11 25 1988 BILLIONS OF DOLLARS 212 BILLIONS OF DOLLARS 212 _ 208 - COMPOUNDED ANNUAL RAT ES -__OF CHANGE. AVERAGE OF ___THE FOUR WEEKS END 1NG . AUGUST 1, 1988 FROM “ THE FOUR WEEKS ENDING 1988 1988 1988 1988 1988 1987 m i - MAY 30 r - MAY 2, _ APR. A, FEB. 29, " FEB. 1 “ NOV. 2, 1 208 9.1 7.9 8.1 8.7 8.0 9.2 _ i 1 CURRE NCY i ^ / J i i ----- - i i 1 8 22 JUL / 196 111 - ■ “ 13! W: AUG. !llll J_LL I 15 20 19 27 JUN JUL 1 1 1 1 10 24 AUG -LLL -LLL III! -LLL -LLL 1 1 1 1 NOV FEB 7 21 SEP 1987 2 18 90 14 28 II 25 OCT DEC JAN 8 22 -LLL -LLL 4 18 MAR APR a p. i 27 4 11 18 25 1 uu i vi 206.1 205.7 206.0 206.3 207.0 207.0 1 1-1. 1 11111111 2 18 90 19 27 MAY 1988 JUN 11 188 Lli i_l. 2 JUL LATEST DATA PLOTTED WEEK ENDINGt AUGUST 1, 1988 1/ RATIO OF MONEY STOCK (Ml J 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 192 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS TOTAL CHECKABLE DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 580 ------------- 1---------- 1------ BILLIONS OF DOLLARS ------ ----------- ------------- 580 565.6 564.6 571.7 568.0 567.6 570.2 I 15 28 13 27 10 24 JUN JUL AUG 7 21 SEP 1987 5 19 OCT 2 IS 30 14 28 11 25 NOV DEC LATEST DATA PLOTTED WEEK ENDING: AUGUST 1, JAN 8 22 7 21 4 MAR FEB APR 18 2 18 30 13 27 MAY 1988 JUN 11 25 JUL 8 22 AUG 1988 DEPOSITORYKt^TITUT?ONSS 18 THE SUM 0F DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL TOTAL CHECKABLE DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, 8/3/87 11/2/87 -0.2 2.5 1 .6 2.3 3.4 2.4 3.3 4.0 -1 .7 -2.2 -0.3 1 .7 0.5 2.0 3. 1 1/4/88 2/1/88 AVERAGE OF FOUR WEEKS ENDING: 2/29/88 4/4/88 5/2/68 5/30/88 2.8 5.7 12.0 TO THE AVERAGE OF FOUR WEEKS ENDING: 1/ 4/88 2/ 1/88 2/29/88 4/ 4/88 5/ 2/88 5/30/88 7/ 4/88 8/ 1/88 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6.7 6.7 8.2 5. 1 6.3 7.1 1.9 5.3 2.2 4.3 5.5 9.6 4. 1 6. 1 7.3 2.6 6.0 7.5 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 6 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES PERCENT 12.0 11.0 CORPORATE t ME BANK )AN RATE MUNICIPAL BONDS 7.0 5 10 JUN 3 IT 31 JUL 14 28 11 AUG 25 SEP 1987 0 23 OCT 6 20 A NOV DEC 18 1 15 20 12 26 11 JAN FEB 25 MAR 8 22 6 20 APR MAY 1988 3 17 JUN JUL LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: AUGUST 12, 1988 JUNE 3 10 17 24 JULY 1 8 15 22 29 AUG. 5 12 X 19 26 AUG 1988. 90 DAY CD'S 30-DAY COMMERCIAL PAPER 90-DAY BANKERS' ACCEPTANCES CORPORATE Am BONDS CORPORATE Baa BONDS MUNICIPAL BONDS XX 7.50 7.45 7.44 7.55 7.62 7.76 7.91 8.03 8.08 8. 10 8.21 7.38 7.36 7.35 7.43 7.56 7.60 7.68 7.79 7.82 7.85 7.95 7.34 7.33 7.33 7.43 7.48 7.59 7.76 7.86 7.92 7.94 8.09 10.00 9.93 9.80 9.79 9.82 9.84 9.95 10.03 10.03 10.00 10.07 11.09 1 1 .08 10.97 10.94 10.97 11 .02 11.11 11.14 11.20 11.16 11.17 7.87 7.78 7.73 7.77 7.74 7.75 7.77 7.77 7.76 7.69 N. A. NOTE. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 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 PERCENT 11.0 i— 5-YEAR TREASURY SECURITIES DISCOUNT RATE 5 tO JUN 3 IT 31 JUL 14 28 II AUG 3-MONTH TREASURY BILL 25 SEP 1987 0 23 OCT 6 20 4 18 I NOV DEC JAN IS 29 12 28 II FEB 25 MAR 8 22 6 20 APR MAY 1988 3 17 JUN I IS 29 JUL LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDlNGt AUGUST 12, 1988 JUNE 3 10 17 24 JULY 1 8 15 22 29 AUG. 5 12 X 19 26 12 26 AUG 1988. FEDERAL FUNDS sat 3-MONTH TREASURY BILL 8-MONTH TREASURY BILL soot 1-YEAR TREASURY BILL 5-YEAR TREASURY SECURITIES LONG-TERM TREASURY SECURITIES 7.41 7.37 7.43 7.54 7.63 7.81 7.59 7.83 7.80 7.84 7.75 6.45 6.43 6.36 6.50 6.57 6.58 6.70 6.72 6.93 6.89 6.96 6.83 6.72 6.67 6.83 6.75 6.71 6.99 7.09 7.09 7.15 7.26 7.08 6.97 6.91 7.02 7.01 7. 1 1 7.25 7.25 7.31 7.34 7.55 8.61 8.50 8.41 8.52 8.46 8.51 8.67 8.72 8.74 8.67 8.84 9.25 9. 15 9.08 9. 12 9.06 9. 17 9.31 9.35 9.32 9.21 9.37 N0TE‘ SySRI1!*! APPEAR IN THE BOARD OF GOVERNORS' H. 15 RELEASE EXCLUDING LONG-TERM TREASURY * *VERAMsUOFTRlfE?HAVAILjBLE0UPUTED 8V ™IS BAI*' TREASURY BILL YIELDS ARE ON A D1SC0UNTBASIS. sjwwfflmjxjsR™ http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis oavs ew,lier date PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 7 8 MONEY STOCK ( M2 ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 3050 3000 2900 2850 1 15 29 15 27 10 24 7 21 SEP 1987 5 19 2 10 50 14 25 II DEC OCT 25 6 22 7 21 19 2 JAN 19 90 15 27 JUN II 25 8 22 JUL LATEST DATA PLOTTED WEEK ENDING: AUGUST I, 1988 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 TCMJ.S^ RESmENTS^BY FgREU^BRANCHES^OF U^.S. J3ANKS,#fsMONEY MARKET DEPOSIT ACCpUNTS^SAVJNOS AND AND GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUN6S. __L TIME____ _ DETA TAIL, SEE THE H RELEASE. MONEY STOCK (M2 ) COMPOUNDED ANNUAL RATES OF CHANGE, 8/3/87 11/2/87 3.5 4.8 5.2 5.9 6.2 6. 1 5.9 5.7 4.6 5.4 6.4 6.8 6.5 6.3 6.0 1/4/88 AVERAGE OF FOUR WEEKS ENDING: 2/1/88 2/29/88 4/4/88 5/2/88 5/30/88 9.3 9. 1 8.0 7.3 6.7 9.6 8.0 7. 1 6.4 6.6 5.9 5.3 4.7 4.3 4.2 TO THE AVERAGE OF FOUR WEEKS ENDING: 1/ 4/88 2/ 1/88 2/29/88 4/ 4/88 5/ 2/88 5/30/88 7/ 4/88 8/ 1/88 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10. 1 10. 1 9.8 8.8 8.0 7.4 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS r ALL DEPOSITORY INSTITUTIONS TOTAL TIME DEPOSITS^ LARGE TIME DEPOSITS v AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED 1 1 1 -1.111 TOTAL TIME )EPOS TS 1 1111 1 COMPOUNDED ANNUAL RA1 ES OF CHANGE. AVERAGE OF THE FOUR iJlEEKS END INC AUGUST 1, 1988 FROM THE FOUR WEEKS END INC * - MAY 30, 1988 8.3 - MAY 2, 1988 8.3 I APR. 4, 1988 8.9 - FEB. 29, 1988 9.4 - FEB. 1. 1988 10.9 - NOV • 2, 1987 11.0 I AUG . 3, 1987 10.5 1 1 1820 19!)? 0 ILL 1 PI 1111 W: 27 AUG. *1111 u 1 .ini Xl.l 111 mi 111 111 1111 111 111 J 1 1.1 4 11 18 25 1 IS IN I 1111 -1 1 1 1 1790 1820 1909.€ 1909. 1915. 1919. 1921. 1924.C 1111 1850 I _ M ill 1910 BILLIONS OF DOLLARS 1940 1 BILLIONS OF DOLLARS 1940 -------------1---------- 1------------- 1---------- 1790 1760 1730 Lj.h lilllw LATEST DATA PLOTTED WEEK ENDINGi AUGUST I, 1988 BILLIONS OF DOLLARS 520 ------------- ,---------- r- 4 BILLIONS OF DOLLARS —I---------- -------------- 520 503.9 503.2 507.6 510.2 510.3 510.5 LARGE TIME DEPOSITS 1 19 29 13 27 10 24 7 21 5 19 SEP OCT 2 16 30 M 28 11 DEC LATEST DATA PLOTTED WEEK ENDINGt AUGUST 1, 25 JAN 8 22 7 21 4 18 MAR APR 2 16 30 13 27 JUN II 25 8 22 JUL 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 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEOERAL RESERVE BANK OF ST. LOUIS 9 10 BORROWINGS FROM FEDERAL RESERVE BANKS AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS 13 20 3878 3138 3 10 3502 3178 BILLIONS OF DOLLARS TOTAL BORROWINGS LATEST DATA PLOTTED WEEK ENDING. AUGUST 10, 1988 BILLIONS OF DOLLARS 6 13 1301 1332 3 BILLIONS OF DOLLARS 856 ADJUSTMENT + SEASONAL BORROWINGS I I I I 3 17 I 16 29 12 20 9 23 7 21 4 18 OCT NOV 2 16 30 13 27 JAN 10 24 FEB fl 23 6 20 4 18 APR I 18 28 IS 27 10 24 MAY LATEST DATA PLOTTED WEEK ENDING* AUGUST 10, 1986 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS COMMERCIAL PAPER OF NONFINANCIAL COMPAN IES BILLIONS OF DOLLARS 100 ----------r i — - 13SS. MILLION5. ,«S A. r' A rJ \ = - _LU 1 n 1 ‘l 1 1 J A 1 A 1 r\A. i'Sv M 85 7\ 1 /—\ 1 1 90,65* 91,26 90,225 91,25. 90,95: i 91.51' 1 JJLLL BILLIONS OF DOLLARS 100 1 _ JUN. 29 - JUL. 6 13 20 27 - AUG. 3 NOT SEASONALLY ADJUSTED 75 1 1 1 1 111 INI 111 111 Mil 1 1 1 111 JUL AUG SEP 1987 OCT NOV DEC JAN FEB ,1 1 1 L _LU_ J_LL -LI 1 1. . 1 1 1 -LLLL 9 29 JUN LATEST DATA PLOTTED WEEK ENDING-. AUGUST 3, MAR 6 1 APR MAY 1988 15 29 19 27 JUN JUL 10 24 AUG 1988 * DASHED LINE REPRESENTS DATA USING A NEW REPORTING PANEL AND IS NOT COMPARABLE TO PREVIOUS DATA. BUSINESS LOANS v ( COMMtKUIAL AND J NDUSTRIAL ) WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/ SEASONALLY ADJUSTED BILLIONS OF DOLLARS 305 ---------- ,------------- ,------ BILLIONS OF DOLLARS ------------------------------- 305 “ COMPOUNDED ANNUAL RATES - OF CHANGE. AVERAGE OF THE FOUR *EEKS ENDING “ JULY 27 1988 FROM “ MAY 25, «rn. cr . 1988 iyoo MAR. 30, 1988 rto. i aoo _ JAN. 27, ! • CO, ~ JUL. 29, 1988 ! 1987 JUN. 22 JUL. 6 298,786 300,187 302,815 ULL1 J I I 11.1 ,1 I 4 18 OCT 2 NOV 16 90 19 27 JAN 10 24 FEB 1987 LATEST DATA PLOTTED WEEK ENDING. JULY 27, 9 29 6 20 APR 4 IS I -LL.1 1 I I 10 15 29 13 27 24 MAY ]383 1988 1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER. 2/ BANKS WITH DOMESTIC ASSETS GREATER THAN $1.4 BILLION http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 DOLLAR'S TRADE-WEIGHTED EXCHANGE INDEX AVERAGES OF DAILY FIGURES 973-100 1973-100 ------- 108 97.4 96.2 97.3 3 17 JUN 1 13 29 12 26 JUL AUG 9 7 21 4 16 SEP 1987 OCT NOV 2 16 30 13 27 10 24 DEC JAN FEB 9 23 MAR 6 20 APR 4 18 MAY 1988 I 13 JUN 13 27 10 24 JUL AUG LATEST DATA PLOTTED WEEK ENDING* AUGUST 10, 1988 NOTE* CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR'S H.IO RELEASE. DATA ARE 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 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
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