Full text of U.S. Financial Data : August 19, 1983

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S. Financial Data
Reserve Bank of St. Louis

August 19,1983

library
A )G 2 3 19S3
The Federal Reserve discount rate has been unchanged at 8.50
percent since mid-December of last year, when it was lowered from 9
percent (see page 7). From December 1982 through June, the average
federal funds rate was less than 50 basis points above the discount rate.
In contrast, the average federal funds rate in the past four weeks is more
than 100 basis points above the discount rate.
A wider spread between these two rates generally induces
depository institutions to borrow more reserves from Federal Reserve
Banks. The pattern of borrowings on page 11 of this release, however,
indicates that the level of total borrowed reserves has declined since
June. A large part of borrowed reserves in June, however, was special
and extended credit, which reflects the borrowings of a few institutions
experiencing difficulty in attracting funds from other sources. The table
below indicates the expected relationship: adjustment borrowings have
risen as the spread between the federal funds rate and the discount rate
has widened.
—R. Alton Gilbert
Borrowed Reserves and Interest Rates
(borrowings in millions of dollars)

Period
1982 Dec.
1983 Jan.
Feb.
Mar.
Apr.
May'
June
July
Four weeks
ending August 17

Adjustment
borrowings

Seasonal
borrowings
plus extended
credit

45
18
1
27
30
13
48
87

$477
311
241
481
504
290
631
705

$220
189
316
371
489
612
1085
749

110

767

659

Rate spread]./

1/ Federal funds rate less the discount rate in basis points.


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Federal Reserve Bank of St. Louis

2
ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

200

ILL IONS OF DOLLARS
200

------ 1----- 1---

—------------- -----------------

195.0
195.4
194.9
195.4
196.3
196.0

2

16 90 M 28 II

JUL

25

8 22

AUG

6 20

9 17

OCT

NOV

I

15 2B

12 26

JAN

B 29

8 23

FEB

6 20

4 18

APR

MAY

I

IS 2B

19 27

10 24

LATEST DATA PLOTTED WEEK ENDING*. AUGUST 17, 1983
BAI* Sfflg±SI5 9f* <!> reserve accounts of financial institutions at
f.fRF5fiLJ?E5F!,vL.2£!ff5A«L21 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
£5F«:C2&HTl2,iYQItL!*S BANK*
A BAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAIL­
ABLE r KOM THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING:
8/18/82

11/17/82

8.0
8.9
10.5
10.2
10.0
10.5
9.8
9.5

10.5
13.0
1 1 .9
11.4
1 1 .9
10.7
10.2

1/19/83

2/16/83

3/16/83

4/20/83

5/18/83

6/15/83

8.7
7.7

4.5

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/19/83
2/16/83
3/16/83
4/20/83
5/18/83
6/15/83
7/20/83
8/17/83


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Federal Reserve Bank of St. Louis

17.7
14. 1
12.8
13.2
1 1 .3
10.5

14. 1
12.3
13.0
10.8
10.0

8.5
10.5
8.6
8.0

11.8
8.6
7.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

*•

*

ADJUSTED RESERVES
AVERAGES OF DAILY FIGURES
StASUNALLY ADJUSTED

ILL IONS OF DOLLARS

ISfii

BILLIONS
54.7
54.6
53.8

— AUG.

2 10 90 14 28 II

JUN

BILLIONS OF DOLLARS

JUL

AUG

25

8 22

SEP
1982

0 20

9 17

I

OCT

NOV

DEC

15 20 12 28

JAN

0 29

FEB

0 29

MAR

8 20

4 18

APR

MAY

I

15 20

19 27 10 24

LATEST DATA PLOTTED WEEK ENDING* AUGUST 10, 1963
ciRcuE!!ioNi0LEsf

"ESEM

ADJUSTED RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE,

11/10/82

1/12/83

2/9/83

28.5
21.1
15.1
15.8
13.8
11.9

23.3
14.7
15.6
13.3
1 1.2

AVERAGE OF FOUR WEEKS ENDING:

3/9/83

4/13/83

5/11/83

6/8/83

TO THE AVERAGE
OF FOUR WEEKS
ENDING:

1/12/83
2/ 9/83
3/ 9/83
4/13/83
5/11/83
6/ 8/83
7/13/83
8/10/83

6.8
8.2
12.2
1 1.9
10.4
11.1
10.5
9.7


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Federal Reserve Bank of St. Louis

9.9
16.7
15.2
12.3
13. 1
12.0
10.7

4.4
8.6
7.8
6.4

7.5
6.9
5.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

ISfii
JUL.

500

—

490

—

6

BILLIONS OF DOLLARS
525

BILLIONS

520

514.3
514.6
516.0
517.0
517.4
516.9

515
510
505
500
495
490
485
480
475
470
465
460
455
450

2 16 30 14 28 II

JUL

25

8 22

AUG

6 20

3 17

OCT

NOV

I

13 2S 12 26

JAN

0 23

0 23

FEB

6 20

4 18

APR

MAY

1

15 29 13 27

10 24

1982
LATEST DATA PLOTTED WEEK ENDINGi
CURRENT DATA APPEAR

AUGUST 10,

1983

IN THE BOARD OF GOVERNORS'

H.6 RELEASE.

Ml CONSISTS OF CURRENCY HELD BY THE NONBANK PUBLIC PLUS COMMERCIAL BANK DEMAND DEPOSITS
HELD BY THE NONBANK PUBLIC (EXCLUDING THOSE HELD BY FOREIGN BANKS ANO OFFICIAL INSTITUTIONS)
AND OTHER CHECKABLE DEPOSITS OF ALL DEPOSITORY INSTITUTIONS PLUS TRAVELERS' CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE
8/11/82

11/10/82

1/12/83

12.3
13.3
14.6
13.8
12.7
14.5
13.3
13.3

12.8
15.3
13.8
12.2
14.8
13.2
13. 1

21.2
16.3
13.3
16.8
14.2
14.0

AVERAGE OF FOUR WEEKS ENDING:

2/9/83

3/9/83

15. 1
1 1 .6
16.4
13.4
13.3

6.6
14.2
11.2
1 1.5

4/13/83

5/11/83

6/8/83

17.8
12.2
12.3

16.0
15.0

7.6

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/12/83
2/ 9/83
3/ 9/83
4/13/83
5/11/83
6/ 8/83
7/13/83
8/10/83


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

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK s
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

1983
JUL.

RATIO

RATIO
6

2.640

Ml MULTIPLIER

LATEST DATA PLOTTED WEEK ENDING: AUGUST 10, 1983
BILLIONS OF DOLLARS
144 ------------- ,---------- r—

BILLIONS OF DOLLARS
------ ------------------------ 144

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
muwuoi iw. 1900 rnuM
— THE FOUR WEEKS ENDING:

-

MAY
APR.
MAR.

— NOV.

_

8,
1I
13,
•J ,
9,
9,

10|

1983
1983
I 30J
1983
1983
1982

1Ol2

10!0

CURRENCY

AUG. 11

1983

BILLIONS

1.1 1 I I I I I I 1.1 I I I I I I
2

16 30 14 28 II

JUL

25

8 22

AUG

6 20

3 17

OCT

NOV

I

IS 2fl 12 26

LATEST DATA PLOTTED WEEK ENDING: AUGUST 10,

JAN

0 23

9 23

FEB

8 20

4 18

APR

MAY

1

IS 29 13 27

10 24

1983

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 BANK OF ST. LOUIS

5

6
YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
17.0 (—

PERCENT
— 17.0

13.0
CORPORATE
Aaa BONDS

I I .0

'RIME BANK
■PAN RATE
Cl PAL
90 DAY
CD'S

2 |6 SO 13 27 10 24
AUG
SEP
1982

I I I I
B 22

5 IB

3 17 31 14 28 11 25 11 23
JAN
FEB
MAR

8 22

8 20
MAY
1983

3 17
JUN

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: AUGUST 19.

1983
JUNE

3
10
17
24
JULY
1
8
15
22
29
AUG.
5
12
19 X
26

1983

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS K*

8.96
9. 19
9. 1 1
9.33
9.28
9.47
9.51
9.53
9.54
9.82
9.99
9.80

8.68
8.90
8.88
9. 15
9. 14
9. 13
9. 15
9. 18
9. 17
9.42
9.59
9.48

8.83
9. 14
8.99
9.23
9.15
9.33
9.44
9.44
9.44
9.70
9.87
9.63

11.76
11.77
11.66
1 1 .71
11.85
12.02
12. 13
12. 17
12.31
12.62
12.71
12.40

13.40
13.41
13.31
13.34
13.39
13.42
13.41
13.36
13.39
13.64
13.75
13.65

9.78
9.69
9.38
9.38
9.36
9.55
9.54
9.44
9.60
9.74
9.85
N. A.

*ABOND^UYER1 s"AVERAGE'^NOEX' 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

AVERAGES OF DAILY RATES ENDED FRIDAY
16.0

5-YEAR
TREASURY SECURITIES

>ERAL.
IS RATE

_ 3TREAS

I I I I
4 18

2

16 30 13 27

AUG

10 24

8 22

5 19

3 17 31

14 28 I I

JAN

SEP
1982

FEB

25

J1

25

8 22

MAR

8 20

3 17

MAY

JUN

1983

LATEST OATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING, AUGUST 19,

1983
JUNE

3
10
17
24
JULY
1
8
15
22
29
AUG.
5
12
19 *
26

1983

FEDERAL
FUNDS**

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL ***

l-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.77
8.84
8.84
9. 14
8.90
9.39
9.21
9.43
9.46
9.59
9.66
9.67

8.57
8.76
8.70
8.97
8.88
9.07
9. 10
9. 10
9. 13
9.41
9.52
9.37

8.67
8.79
8.83
9.02
9. 14
9.20
9.26
9.37
9.31
9.56
9.70
9.55

8.68
8.85
8.77
9.02
8.98
9.27
9.39
9.33
9.44
9.71
9.80
9.53

10.51
10.61
10.49
10.71
10.80
11.07
11.22
11.22
11.39
11.74
11.89
11.50

10.94
10.98
10.84
10.95
11.09
11.34
11.46
11.41
11.62
11.92
12.01
11.62

* AVERAGES OF RATES AVAILABLE.
_
____
Dm SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.15 RELEASE.
NEW ISSUE RATE
RATES ON LONG-TERM TREASURY SECURITIES ARE COMPUTED 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

8
TOTAL CHECKABLE DEPOSITS^
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

380 c---------- ,---------- 1------

Z

JUL

----------------------------Z] 380

368.9
369.7
370.5
371.3
370.7

I I I I
2 Ifl 30 14 28 1
23 8 22
JUN
JUL
AUG
SEP

« 20
OCT

3 17
NOV

I 13 M 12 M 0 23 0 23
DEC
JAN
FEB
MAR

8 20
APR

1982

4 18
MAY

I

13 29 13 27 10 24
JUN
JUL
AUG

1983

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 10,

1983

1/ DEMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITORY INSTITUTIONS

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
8/11/82

11/10/82

14.5
15.7
17.0
15.6
14.0
16.5
15.0
15.0

14.8
17.4
15.0
12.7
16.4
14.4
14.5

1/12/83

2/9/83

3/9/83

15.2
10.7
17.6
14.2
14.3

4.5
15.2
1 1.7
12.3

4/13/83

5/11/83

6/8/83

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/12/83
2/ 9/83
3/ 9/83
4/13/83
5/11/83
6/ 8/83
7/13/83
8/10/83


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

24.2
17.4
13.4
18.5
15.4
15.4

20.4
13.5
13.8

19.4
18.1

8.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

BILLIONS OF DOLLARS
850 c=r

BILLIONS OF DOLLARS
850
19fii
JUL.

AUG.

6

BILLIONS

840

691.8
692.5
692.3
693.3
694.5
696.9

830
820
810
800
790
780
770
760
750
740
730
720
710
700
690
680
670
0

1983
LATEST DATA PLOTTED WEEK ENDINGt AUGUST 10.

1983

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

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

29
6
13
20
27
August 3
10

MMMFs 2/

$367.1
368.2
368.8
368.6
368.0
367.9
367.7

$176.5
176.9
177.3
177.2
176.6
176.7
177.1

SUPER NOWs 3/
$31.4
33.1
33.1
32.9
32.7
33.4
33.8

1/ Money market deposit accounts at all depository institutions, effective 12/14/82.
Total money market mutual fund balances.
3/ 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.

U


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10
SMALL TIME DEPOSITS^
COMMERCIAL BANK SAVINGS DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
460

BILLIONS OF DOLLARS
460

1

450
440

E—

6

JUL.

;

=
1

i

430

=

420
410
400

5

10

—

SMALL TIME

=

=
5

E

390
380

Vs

E
e/

370
360
350

=

\

E
=

340

E

330

=

320

=

310

1

)EPOS

=
E

\

E
E

V
X
"

E
5
iLU. 111

=
=

JUL.

1983
6

1111

111

111

1 1 1

1 1 1 1

1 1 1 JUL ,11.11 111
1983

1111

11111

=

AUG.

3

111

=
W

360
350

330

IU
~
z

310
300

0

BILLIONS OF DOLLARS
190

E

ULLJONS

180
175

E
E
E

BILLIONS OF DOLLARS
190

170

370

320

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 10.

185

380

340

300

0

400
390

185

Z

s

1l

180

2
SAVIN GS DEP IS ITS

E

165

|

z
160

\

=

155

155

v

—

150
145

z
=

140

=
150

\

~

135

0

W

111

111

JUL

AUG

11

1
2 16 30 14 28 11 23 18 22
JUN

SEP

111

1 Ll

6 20
OCT

3 17
NOV

111
Jill
u
11 28 12 26J_LL
1 14 1 181
1 13
9 23 9 23 .1.1
6 20
DEC

JAN

1982

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 10,

FEB

MAR

APR

MAY

1 1 1 1
I

1 1 l

E
E
E

140
135

mu’

15 29 IS 27 10 24
JUN
JUL
AUG

1983
1983

1/ COMMERCIAL BANK TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000


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

145

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

LLIONS OF DOLLARS
1963

BILLIONS OF DOLLARS
----------------- -----------=3 4-5

MILLIONS

JUL. 13
20
27
AUG.
3

1147
1233
1389
1315

2 16 30 14 28

JUL

11

23

8 22

AUG

6 20

3 17

OCT

NOV

1

13 29 12 26

LATEST DATA PLOTTED WEEK ENDING* AUGUST 17,

9 23

9 23

6 20

4 16

APR

MAY

I

13 29 13 27 10 24

1983

BUSINESS LOANS17
( COMMERCIAL AND INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/

5.1
2.5
-1.2
-1.5
-1.3

-

aug!

982

1.3

11.

220

Vs

A

.1.1.1.

212

r

'V

<

n il

r*

1

983
983
983
983
983

216

1

JUN. 8,
MAY 11,
APR. 13,
MAR. 9,
FEB. 9,

BILLIONS OF DOLLARS
232

'

1

“
—
~
"
-

SEASONALLY ADJUSTED BY THIS BANK

_LLL

BILLIONS OF DOLLARS
232
III
1
I COMPOUNDED ANNUAL RATES
_ OF CHANGE. AVERAGE OF
__ the four weeks ending
1983 FROM
I THE FOUR XfEEKS ENDING

-

212

TTT

208
198.

nIILLIOfc!S

JUL.

6
13
20
27
AUG. 3
10

-

S| II 1

1 1 1

111

JUL

AUG

in i

111

111

11 ii

SEP
1982

OCT

NOV

DEC

23

JUN

_
___
-

-LLL -LLL -LL.LJ. -LLL ■ LI .1 ............................................

IS 29 12 26

LATEST DATA PLOTTED WEEK ENDING, AUGUST 10,

215,441
215,541
216,099
215,395
216,744
216,674

-

JAN

9 23

FEB

9 23

MAR

APR

18
MAY
1983

1

13 29

JUN

10 24

JUL

AUG

1983

1/ BUSINESS LOANS INCLUDE BANKERS’ ACCEPTANCES AND COMMERCIAL PAPER.
2/ BAf*S WITH DOMESTIC ASSETS OF 8750 MILLION OR MORE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

12
LARGE TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

285
280
227.7

227.8

275
270
265
260
255
250

230
225

JUL

AUG

OCT

NOV

JAN

FEB

1982
LATEST DATA PLOTTED WEEK ENDING. AUGUST 10,

APR

MAY
1983

1983

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF $100,000 OR MORE.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS