Full text of U.S. Financial Data : August 16, 1984

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Federal Reserve Bank
of St. Louis

^^3LT.S. Financial Data
August 16,1984
Recent movements in interest rates show a marked
difference in the behavior of long- and short-term rates on public
securities, and a continuation of the unusual relationship between
short-term public and private securities. The table below shows
that the rate on long-term Treasury securities declined by about
100 basis points since early July, while the 3-month Treasury bill
rate increased by 40 basis points. This is a reversal from the
previous 15-week period when the long-term Treasury rate
increased by about 125 basis points, while the T-bill rate was
essentially unchanged.
The table also illustrates the divergent pattern of movements
in private and public short-term securities. The rate on
commercial paper was essentially unchanged over the most recent
period, despite the rise in the T-bill rate. During the previous
period, the commercial paper rate increased by over 100 basis
points, while the T-bill rate was essentially unchanged. In
previous periods, these rates have tended to move together.
Basis-Point Changes in Selected Interest Rates

Week ending
March 23 - July 6
July 6 - August 17

3-month
Treasury
bills

Long-term
Treasury
securities

30-day
commercial
paper

16
40

123
-98

105
5

—Daniel L. Thornton
THE
FEDERAL
A RESERVE
Ja RANK of
ST. UHJIS

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
218 ------------- .---------- 1-----

ISM
JUL.

II

ILL IONS OF DOLLARS
—I---------- ------------- 218

BILLIONS
215. I

212.6
211.9

212.0
214.1

1

13 a

JUN

IS 27

JUL

10 24

AUG

7

21

SEP
1983

9

IS

OCT

2

19 90 14 28

NOV

DEC

I I

29

JAN

8 22

FEB

7 21

4

MAR

APR

18

2

16 90

MAY
1984

19 27

JUN

II

29

JUL

8 22

AUG

LATEST DATA PLOTTED WEEK ENDING; AUGUST 15, 1984
THE ADJUSTED MONETARY BASE CONSISTS OF: (1) RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT
FEDERAL RESERVE BANKS. (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE
VAULTS OF ALL DEPOSITORY INSTITUTIONS), AND (3) 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 AVAIL­
ABLE FROM THIS BANK.
RECENT DATA ARE PRELIMINARY
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE
8/17/83

11/16/83

7.7
8.7
9.3
8.8
9.0
8.5
6.9
8. 1

8.6
9.7
8.8
9.2
8.3
9.0
7.8

1/18/84

AVERAGE OF FOUR WEEKS ENDING:

2/15/84

3/14/84

4/18/84

5/16/84

6/13/84

9.0
9.7
8. 1
9.2
7.4

8. 1
6.5
8.3
6.4

7.1
9.3
6.6

8.5
5.2

6.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/18/84
2/15/84
3/14/84
4/18/84
5/16/84
6/13/84
7/18/84
8/15/84


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

13.9
10.6
10.8
9.3
10.0
8.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK ( Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
555 r---------1---------- |--------

12M

BILLIONS OF DOLLARS
------------------- -------- Z2 555

BILL I ONS

JUL.

546.5
542. I
547.3

AUG.

6 20

4

JUN

JUL

18

I

15 20 12 26

AUG

SEP
1983

10 24

7 21

5 10

OCT

NOV

DEC

2 16 50 IS 27

JAN

FEB

12 26

MAR

0 23

7 21

APR
MAY
1984

JUN

JUL

AUG

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 6. 1984
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
Ml CONSISTS OF CURRENCY HELD BY THE NONBAKK PUBLIC PLUS COMMERCIAL BANK DEMAND DEPOSITS
HELO BY THE NONBANK PUBLIC (EXCLUDING THOSE HELD BY FOREIGN BAWS AND OFFICIAL INSTITUTIONS)
AND OTHER CHECKABLE DEPOSITS OF ALL DEPOSITORY INSTITUTIONS PLUS TRAVELERS’ CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE
8/8/83

11/7/83

1/9/84

2/6/84

AVERAGE OF FOUR WEEKS ENDINGt
3/5/84

4/9/84

5/7/84

6/4/84

TO THE AVERAGE
OF FOUR WEEKS
END 1NGt
1/
2/
3/
4/
5/
6/
7/
8/

9/84
6/84
5/84
9/84
7/84
4/84
9/84
6/84

5.0
5.9
6.0
5.9
5.2
6.5
6.3
5.7


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

7.3
7. 1
6.7
5.6
7.4
7.0
6. 1

8.7
7.4
5.5
8. 1
7.4
6.2

5.9
3.9
7.4
6.8
5.5

2.7
7.7
6.9
5.4

9.2
7.4
5.3

11.2
7.2

2.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY MULTIPLIERi/
CURRENCY COMPONENT OF MONEY STOCK*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
2.9 —I---------- ------------- 1---------1984
JUL.
2.8

RATIO
2.9

RATIO
2

MS?

2.8

—

AUG.

t

o

Ml Ml LTIPLII:r

A
vA

A

2.6

T

2.5

lu_

-LLL

1 1 l-l.

1.1 1

IUI. ..1.1.1. -LLL .1111

LATEST DATA PLOTTED WEEK ENDING*. AUGUST 8.

111

in

1111.

111

111 XU, L

1984
BILLIONS OF DOLLARS
158

BILLIONS OF DOLLARS
158

r—i----------1--------COMPOUNDED ANNUAL R VTES

—
156
154

156

— OF CHANGE, AVERAGE
THE FOUR WEEKS END 1
“ AUGUST 6, 1984 FROM
___THE FOUR WEEKS END 1 Uft.

-

-

-

152
_
150
_

JUN.
MAY
APR.
MAR.
FEB..

4, 1984
7, 1984
9, 1984
5, 1984
6, 1984

7.1
8.
9.
8.
7.

NU G\

8 I,

a.

AU

1900

1983

154
152

CURRE NCY

150

8.

-

148

-

146

-

144

1984
-

JUL .

142
140

AUCr.

’!ui
JUN

_U_L ■i.i n. XI-1- ll.ll XXL XIX- ii 11 XXL ,11 1 XJ.1.L J-LL
JUL

AUG

SEP
1983

OCT

NOV

DEC

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 6.

JAN

FEB

MAR

9
16
23
30

144

BILLIONS
2 154.1
155.0
155.1
155.3
155.4
6 155.8

11 i,l 11

—
“
_

ilLlu!

APR
MAY
1984

1984

1/ RATIO OF MONEY STOCK (Ml > TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.B RELEASE.


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

PREPARED BY FEDERAL RESERVE BAW< OF ST. LOUIS

142
140

TOTAL CHECKABLE DEPOSITS^
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

— JUL.

BILLIONS OF DOLLARS
395

385.4
386.6
381 .6

350

5

JUN

JUL

NOV

IB

2

16 30

DEC

15 27

FEB

12 26

MAR

1983

B 23

7 21

MAY
1984

JUN

LATEST DATA PLOTTED WEEK ENDING: AUGUST 6. 1984
1/ DEMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITORY INSTITUTIONS

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE
8/8/83

11/7/83

3.0
3.9
4.6
4.7
3.6
5.4
5.2
4.4

6.0
6.6
6.4
4.5
6.9
6.4
5.2

1/9/BA

AVERAGE OF FOUR WEEKS ENDING:

2/6/84

3/5/84

4/9/84

7.0
3.0
7.7
6.7
4.8

0.6
7.4
6.3
4.2

8.5
6.6
3.7

5/7/84

6/4/84

12.3
6.7

-0.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/
2/
3/
4/
5/
6/
7/
8/

9/84
6/84
5/84
9/84
7/84
4/84
9/84
6/84


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

8.9
7.6
4.4
7.9
7. 1
5.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT

15.0 i—

—i

CORPORATE
Aaa BONOS

PRIME BANK
LOAN

MUNICIPAL
BONDS

90 DAY
CD'S

[RCIAL

I

15 29 12 26

9 23

7 21

4

OCT

NOV

18

2

16 30 13 27 10 24
JAN
FEB

9 23

6 20

4

APR

MAY

18

1

15 29 13 27

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt AUGUST 17,

1984
I
8
15
22
29
JULY b
13
20
27
AUG.
3
10
17 *
24
31
JUNE

90 DAY
CD’S
1 1.31
11.09
11.13
11.46
11.67
11.75
11.60
11.54
11.47
11.39
11.43
11.45

30-DAY
COMMERCIAL
PAPER
10.32
10.56
10.75
10.98
1 1.07
11.11
11.13
11.03
10.98
11.02
11.11
11.16

90-DAY
BANKERS'
ACCEPTANCES
10.92
10.81
10.85
11.27
11.46
11.44
11.41
11.36
11.25
11.18
11.24
11.23

CORPORATE
Aaa BONDS
13.56
13.46
13.48
13.55
13.71
13.69
13.53
13.36
13.32
13.05
12.84
12.83

CORPORATE
Baa BONDS

15.04
14.95
15.01
15.06
15.20
15.29
15.16
15. 18
15.09
14.89
14.66
14.63

1984

MUNICIPAL
BONDS XX
11.07
10.78
10.59
10.56
10.76
10.69
10.44
10.36
10.19
9.92
9.81
N.A.

* AVERAGES OF RATES AVAILABLE.
«* BOND BUYER'S AVERAGE IfCEX 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

15.0

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
15.0 i—

PERCENT
—1 15.0

1111

-

M M

/ v/ \

13.0

M il M il

12.0

r"'

I

r-J

11.0

>

i

~r~
f

<

A

1

f

1

\

A

M il

5-MONT H
\
TRE *SURY BILL \
D,S :ount

\TE

-

8.0
1

1111

1

1
1

•m
0

3

10.0

M

''Jr

W

x'Vv -'■a

!

>

FEDER AL
FUNDS RATE

10.0

~

13.0

5-Y :ar
*SURY SECURI

11.0

14.0

:

M ill

12.0

TTTT

14.0

17

JUN

1 I 1 1

1 1 1

1

12 26

IS 39

JUL

AUG

1 1 1 1
9 23

SEP
1983

1 1 1

1 1 1

7 21

4

18

OCT

NOV

1 1 1 1
2

j-i i- 1 1 1

16 SO

DEC

13 27

JAN

-i.i. u. -LLL J-LL

10 24 9 23

PEB

MAR

6 20

APR

4

18

MAY
1984

1111
I

IS 29

JUN

?
111 ■11.1 1 ■
13

27

JUL

10 24

AUG

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: AUGUST 17, 1984

1984
JUNE

1
8
15
22
29
JULY
6
13
20
27
AUG.
3
10
17 *
24
31

FEDERAL
FUNDS XX

3-MONTH
TREASURY
BILL

10.30
10.72
10.85
11.49
11.27
10.91
11.25
11.21
11.19
11.53
11.59
1 1 .63

9.76
9.81
9.95
9.91
9.81
9.92
10.04
10. 1 1
10.25
10.42
10.48
10.32

6-MONTH
TREASURY
BILL x*x
** ***
10.62
10.57
10.66
10.49
10.49
10.54
10.52
10.60
10.64
10.64
10.68
10.63

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECUR1T1ES

10.94
10.80
10.87
10.97
11.09
1 1 .01
10.94
10.89
10.79
10.73
10.69
10.65

13.69
13.34
13.36
13.49
13.72
13.67
13.39
13.23
13.03
12.77
12.63
12.67

13.71
13.38
13.35
13.41
13.62
13.65
13.31
13.21
13.02
12.75
12.62
12.67

* AVERAGES OF RATES AVAILABLE.
** SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.I5 RELEASE.
*** NEW ISSUE RATE
RATES ON LONG-TERM TREASURY SECURITIES ARE COUNTED BY THE FEDERAL RESERVE BANK OF ST. LOUIS.
TREASURY BILL YIELDS ON DISCOUNT BASIS.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

0

8
SMALL TIME DEPOSITS 1/
COMMERCIAL BANK SAVINGS DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
390
380
370

1984

“JUL.
2
Z
9
16
-

AU G.

30
6

BILLIONS OF DOLLARS
390

E

BILLIONS

380

368.4
370.
371. S
372. i
374.2
375.

~
370
SMALL TIME DEPOS TS

E

360

E
350

350

E

E

E

E
E

340

340

330
320

E ✓

330
320

~

=
310
300

360

E

310

E

E

Lll

300

~
111

1111

111

1111

_LLL -LLL

1111

_LLL -LLL

mi

-LLL .LLL -LLLL _LLL

LATEST DATA PLOTTED WEEK ENDING*. AUGUST 6, 1984
BILLIONS OF DOLLARS
160
~

12M

>
c

127.£
128.
127.!
127.2
126.
126.£

___

TTTq

G.

2
9
16
23
30
6

TTTT

-----JUL.
-

BILLIONS OF DOLLARS
160

BiLLIi m.

z

-

SAVIN GS DE ’OS ITS

z

E

z
E

Z
■

z
111
6 20
JUN

111
1111
1 15 20 12 26 10 24
SEP
OCT
AUG
1983

-LLL -LLLL
16
JUL

111
7 21
NOV

111
i M i -LLL 1 1 1
1 1 1 1 _LLL _LLL
5 10 2 16 30 15 27 12 26 0 23
7 21 4 16
DEC JAN
FEB
MAR
APR
MAY JUN
1984

LATEST DATA PLOTTED WEEK ENDING: AUGUST 6.

E

-LLLL

2 16 30 13 27
JUL
AUG

1984

1/ COMMERCIAL BANK TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 6100,000.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL TIME DEPOSITS^
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
770 ---------- 1---------- 1-------ISM

BILLIONS OF DOLLARS
------ ------------- -------- 770

MILLIONS

“ JUL

Z

758.4
757.4

AUG

JUN

JUL

1 15 29 12 26 10 24
AUG
SEP
OCT
1983

7 21
NOV

5 IB
DEC

LATEST DATA PLOTTED WEEK ENDING-. AUGUST 6,

2 16 SO IS 27 12 26 9 2S 7 21
JAN
FEB
MAR
APR
MAY
1984

4 16
JUN

2 16 SO IS 27
JUL
AUG

1984

1/ SAVINGS DEPOSITS PLUS SMALL TIME DEPOSITS PLUS LARGE TIME DEPOSITS

TOTAL TIME DEPOS1TS
COMPOUNDED ANNUAL RATES OF CHANGE ,
8/8/83

11/7/83

1/9/84

AVERAGE OF FOUR WEEKS ENDING:

2/6/84

3/5/84

4/9/84

5/7/84

i/t/u

5.0
6.8
10.5
12.4
13.2

9.6
13.7
15.2
15.7

17. 1
17.8
17.9

21.0
20.1

18.6

TO THE AVERAGE
OF FOUR WEEKS
ENDING*.
1/
2/
3/
4/
5/
6/
7/
8/

9/84
6/84
5/84
9/84
7/84
4/84
9/84
6/84

7.9
5.6
5.0
5.5
6.0
7.5
8.7
9.4


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

2.6
2.2
3.6
4.7
7.0
8.7
9.6

-2.7
1.5
3.6
7. 1
9.3
10.5

)

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

LARGE TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

I

253.3
254.8
256.7
257.3
254.8

AUG.

JUN

BILLIONS OF DOLLARS
265

JUL

NOV

DEC

FEB

MAR

MAY

4 I8
JUN

2 I6 30 IS 27

LATEST DATA PLOTTED WEEK ENDING-. AUGUST 6. 1984
TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE.

MMDAs, MMMFs and SUPER NOWs
(billions of dollars, not seasonally adjusted)
MMDAs 1/
June
July

August

25
2
9
16
23
30
6

$390.5
390.2
390.8
389.9
388.3
386.6
385.5

MMMFs 2/
$190.5
191.0
191.0
192.8
193.4
194.9
194.1

SUPER NOWs 3/
$42.5
43.0
44.5
43.9
43.1
42.9
44.0

1/ Money market deposit accounts at all depository institutions, effective 12/14/82
?/ Total money market mutual fund balances
T/ NOW accounts at all depository institutions, requiring a $2,500 minimum balance
and eligible to earn more than 5.25 percent, effective 1/5/83


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
9.0
1984

8.0

JUL.

II
18
25
AUG.
I
8
15

7.0
6.0

BILLIONS

of dollars

MILLIONS
4824
5891
6849
7460
7282
8692

5.0
4.0
3.0

2.0
I .0
0

I I II
I I II
I IS 2B IS 27 10 24
JUN
JUL
AUG

7 21
SEP
1983

S 10
OCT

I I I |
2 16 50 14 28 11 25 8 22
NOV
DEC
JAN
FEB

7 21
MAR

4 10 2 16 90 IS 27 II 2S 0 22
APR
MAY
JUN
JUL
AUG
1984

LATEST DATA PLOTTED WEEK ENDING: AUGUST 15. 1984

BUSINESS LOANS u

( COMMERCIAL AND INDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS
BILLIONS OF DOLLARS
252 p-----------1---------- ,------------- ]---------- r~
...
248
244
240
236

2/

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
252

- COMPOUNDED ANNUAL RATES
- OF CHANGE, AVERAGE OF
—THE FOUR WEEKS ENDING *
I AUGUST I. 1984 FROM
_ THE FOUR WEEKS ENDING:
“MAY 30. 1984
9.9'
- MAY
~ APR.
Z" FEB.
- FEB.
- NOV.
—AUG.

2. 1984
4, 1984
29, 1984
1, 1984
2. 1983
3, 1983

18.3
19.8
23.5
23.5

248
244

‘

240

------13.0

236
232
228
224
MILLIONS

220

JUN. 27
216
212
245,176
I

15 20 19 27 10 24

7 21
SEP

3 10
OCT

2 16 90 14 28 11 25
DEC
JAN

8 22

7 21
MAR

I 1 1 I I I I I I1JJ-.LU .I 1
4 18
APR

2 16 90 19 27 II 25
JUN
JUL

8 22

LATEST DATA PLOTTED WEEK ENDING: AUGUST I, 1984
1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 61.4 BILLION


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