Full text of U.S. Financial Data : August 20, 1987

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RE!
Federal Reserve Bank

OT U°& Financial Data
AUG

2

5 1987
August 20, 1987

THE WEEK'S HIGHLIGHTS:
s

Industrial production surged at a 9.7 percent annual rate in July,
bringing the growth rate for the past three months to 7.8 percent.
This is up from the 3.5 percent rate from last September to April
of this year.

s

Business inventories rose at a 7.7 percent rate from April to June,
somewhat less than the 12.5 percent rate of growth of sales over
the same period.

ts

Producer prices for finished goods rose at a 2 percent annual rate
in July and were up 3.6 percent from a year earlier.

^

The U.S. merchandise trade deficit rose to $15.71 billion in June
from a revised $14.04 billion in May. For the first six months of
this year, this deficit was $81.93 billion, up from $78.62 billion for
the same period of 1986.

v*

The Office of Management and Budget announced revised estimates
for the budget deficit of $158.4 billion for the 1987 fiscal year, which
ends September 30, and a current services estimate of $161.4 billion
for 1988.

tiie

FEDERAL

A RFaSERXE

Ja RANK of

sr.un is

expressed do not necessarily reflect official positions of the Federal Reserve System.
Digitized forviews
FRASER
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

BILLIONS OF DOLLARS
272

263.7
264.4
264.4
266.3

264

252

I I I I

I I I I
4

18

2

10 50 13 27

AUG

10 24

8 22

5 10

3 17 31

SEP
1986

14 28 11 25 11 25
JAN
FEB
MAR

8 22

0 20
MAY

3 17
JUN

1

15 20 12 20

1987

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING-. AUGUST 12.

1987

THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
RESERVE BANKS, CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF ALL
DEPOSITORY INSTITUTIONS ) AND AN ADJUSTMENT FOR RESERVE REQUIREMENT RAT 10 CHANGES.
THE MAJOR
DATA ARE COMPUTED BY THIS
SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT.
BANK.
A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM THIS BANK.
RECENT DATA ARE PRELIMINARY.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING-.
8/13/86

11/5/86

1/14/87

2/11/87

3/11/87

4/8/87

5/6/87

6/17/87

12.5
10.2
8.8
9.4
8. 1
7.2
7.2

7.6
5.9
7.5
6.3
5.3
5.6

2.5
5.8
4.9
4.0
4.5

7.5
5.5
4.3
4.9

6.8
4.8
5.4

1 .8
3.4

3.8

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING:
1/14/87
2/11/87
3/11/87
4/ 8/87
5/ 6/87
6/17/87
7/15/87
8/12/87

10.7
11 .0
9.8
8.9
9.3
8.4
7.7
7.7


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
780 ------------- 1---------- 1-----mi
_

JUL.

BILLIONS OF DOLLARS
------------------------------- 780

BILLIONS
750.2
743.4
747.9
749. I

751.7
749.2

I I I I

I I II

2 IS 30 14 28 II 2S 8 22
JUN
JUL
AUG
SEP

6 20
OCT

3 17
NOV

I 15 20 12 28 0 23 0 25
DEC
JAN
FEB
MAR

1986

6 20
APR

4 18
MAY

I

15 20 13 27

JUN

JUL

10 24

AUG

1987

LATEST DATA PLOTTED WEEK ENDING: AUGUST 10,

1987

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
depoIit^an^travelerI^checks0

BY THE nonbank public’ demand deposits, OTHER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE
8/11/86

11/10/86

1/12/87

AVERAGE OF FOUR WEEKS ENDING:

2/9/87

3/9/87

5.7
1 1.4
8.2
4.2
4.4

12.6
8.0
3.2
3.6

4/13/87

5/11/87

6/8/87

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/12/87
2/ 9/87
3/ 9/87
4/13/87
5/11/87
6/ 8/87
7/13/87
8/10/87

21 .6
16.2
15.2
13.4
14.6
12.9
10.5
10. 1


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

17.2
15.2
12.4
14.3
12.0
8.8
8.5

-0.9
0.7
6.0
4.5
1 .9
2.4

11.0
3.1
3.6

-5.5
-2.3

-2.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

1987
JUN.
JUL.
AUG.

I
15
20
13
27
10

RATIO
2.862
2.826
2.834
2.825
2.832
2.818

2 16 SO 14 28 II

JUN

JUL

RATIO

25

AUG

Ml MULTIPLIER

8 22

SEP
1986

6 20

3 17

I

OCT

NOV

DEC

IS ZS 12 26

JAN

9 23

9 23

FEB

6 20

APR

4

18

I

IS 29 IS 27

10 24

MAY
1987

LATEST DATA PLOTTED TWO WEEKS ENDING: AUGUST 10, 1987
BILLIONS OF DOLLARS

ILL IONS OF DOLLARS
196

COMPOUNDED ANNUAL RATES
OF linwwt.
CHANGE. nvcnnuc
AVERAGE ur
OF
ur
the four Weeks
ending
auuuo i iw,
iwor rnuiw
THE FOUR WEEKS ENDING^

.

8,
11,
13,

1987
1987
1987

NOV .
.

9,
10,
IU,
11,

ivor
1986
I 900
1986

MAY
— MAR
_

CURRENCY

19SZ.

BILLIONS
191.3
192.1
192.3

192.7
192.9
111111111111
2

16 30 14 28

JUL

II

25

8 22

8 20

3 17

I

15 29 12 26

AUG

JAN

9 23

9 23

6 20

4 18

I

15 29 IS 27

10 24

FEB

1986
LATEST DATA PLOTTED WEEK ENDING: AUGUST 10,

1987

1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
575 ------------ 1--------- 1-----

ILL IONS OF DOLLARS
—I--------- ------------ 575

BILLIONS

— AUG.

552.2
544.5
548.9
549.6
552.8
549.5

2 IS SO 14 28 11 25 8 22
JUN
JUL
AUG
SEP

8 20
OCT

3 17
NOV

I 15 20 12 28 0 23 0 23
DEC
JAN
FEB
MAR

6 20
APR

1986

4 18
MAY

15 20

JUN

IS 27

JUL

10 24

AUG

1987

LATEST DATA PLOTTED WEEK ENDING-. AUGUST 10.
DEPOSITORYKt^TITUT?ONSS IS THE SUM

1987

DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE
8/11/86

11/10/86

26.9
18.7
17.4
15.2
16.9
14.6
11.4
10.9

19.7
17.2
13.8
16.4
13.3
9. 1
8.7

1/12/87

AVERAGE OF FOUR WEEKS ENDINGt

2/9/87

3/9/87

5.7
13.2
8.6
3.3
3.5

15.0
8.4
2.0
2.5

4/13/87

5/11/87

12.0
1.7
2.4

-9.4
-5.3

6/8/87

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/12/87
2/ 9/87
3/ 9/87
4/13/87
5/11/87
6/ 8/87
7/13/87
8/10/87


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

-5.2
-2.2
5.0
3.0
-0.3
0.4

-5.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

11.0

9.0

MUNIC

0 20

4

JUN

JUL

18

I

19 20 12 26 10 24

7 21

5 10

NOV

DEC

2 16 SO IS 27

FEB

IS 27

MAR

10 24

8 22

3 10

9 17 91

1986

1987

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt AUGUST 21,

1007
JUNE

5
12
19
26
JULY
3
10
17
24
31
AUG.
7
14
21 X
28

14 26

APR
1987.

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
BAA BONDS

MUNICIPAL
BONDS **

6.99
6.98
6.88
6.91
6.88
6.73
6.64
6.65
6.72
6.78
6.70
6.72

6.87
6.86
6.85
6.87
6.82
6.65
6.52
6.49
6.56
6.63
6.59
6.62

6.90
6.83
6.79
6.81
6.75
6.63
6.52
6.53
6.61
6.65
6.58
6.61

9.38
9.36
9.30
9.25
9.33
9.31
9.36
9.46
9.56
9.65
9.63
9.67

10.61
10.58
10.48
10.43
10.52
10.52
10.57
10.62
10.74
10.84
10.76
10.74

7.97
7.83
7.63
7.72
7.81
7.67
7.66
7.72
7.73
7.86
7.79
N.A.

NOTEt
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 RELEASE.
* AVERAGES OF RATES AVAILABLE
XX 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

AVERAGES OF DAILY RATES

PERCENT

11.0

TREASURY II
7.0

V'
DISCOUNT RATE

I I I I
6 20

4

JUN

JUL

18

IS 20 12 20 10 24

7 21

5 19

NOV

DEC

2

10 SO IS 27 IS 27 10 24

FEB

MAR

0 22

5 10

3 17 31

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* AUGUST 21,

1987

IK

5
12
19
26
JULY
3
10
17
24
31
AUG.
7
14
00 —

JUNE

14 20

APR
1887.

FEDERAL
FUNDS X*

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL ram

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

6.65
6.70
6.75
6.79
6.61
6.64
6.52
6.57
6.63
6.75
6.58
6.74

5.70
5.55
5.65
5.77
5.68
5.61
5.58
5.66
5.94
5.87
5.94
6.01

6. 10
5.99
5.95
5.93
6.00
5.68
5.54
N. A.
6.20
6. 15
6. 14
6. 12

6.44
6.36
6.29
6.32
6.25
6.20
6. 1 1
6.26
6.40
6.49
6.47
6.50

8. 19
8. 10
7.87
7.91
7.96
7.91
7.93
8.05
8. 18
8.30
8.24
8.24

8.85
8.77
8.55
8.58
8.66
8.62
8.69
8.84
8.94
9.05
8.95
8.98

NOTE.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE EXCLUDING LONG-TERM TREASURY
* AVERaM^OF^ATES^aSIiLABLE^^^ BY TH,S BANK’
TREASURY 81LL YIELDS ARE ON A DISCOUNT BASIS.
** SEVEN-DAY AVERAGES FOR WEEK ENDING TWO DAYS EARLIER THAN DATE SHOWN
JH8K AUCTION AVERAGE (DISCOUNT)


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
COMMERCIAL BANK
SMALL TIME DEPOSITS 1/
LARGE TIME DEPOS ITS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

iSSI

BILLIONS OF DOLLARS
410

BILL I .QMS,
6

362.1

400

363.4
364.9
365.2

390

380
SMALL TIME DEPOSITS
370

II I I

I I I I

LATEST DATA PLOTTED WEEK ENDING: AUGUST 10. 1987
BILLIONS OF DOLLARS

mL

BILLIONS OF DOLLARS
320

BILLIONS
6

AUG.

312.7
315. 1
313.8
313.3
314.7

LARGE TIME DEPOSITS

2 16 30 14 28

JUL

It

25

8 22

AUG

6 20

3

OCT

NOV

17

1

15 29 12 26

JAN

9 23

9 23

6 20

4 18

I

19 29 IS 27 10 24

FEB

1986
LATEST DATA PLOTTED WEEK ENDING: AUGUST 10. 1987
1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 9100,000
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 9100,000 OR MORE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL BANK
TOTAL TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
865 ------------- ,---------- ,------

_

JUL.

851 . I
853.9
853.6
854.6
855.9
857.9

AUG.

I I I I
2

I I I I

10 30 14 28

JUN

BILLIONS OF DOLLARS
------------------------------ 865

JUL

II

AUG

25

8 22

SEP
1986

8 20

3

OCT

NOV

17

1

IS 20 12 20

DEC

JAN

0 23

FEB

B 23

MAR

0 20
APR

4 10
MAY

I

19 20 IS 27

JUN

10 24

JUL

1987

LATEST DATA PLOTTED WEEK ENDING: AUGUST

10,

1987

TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SUALL TIME DEPOSITS AM) LARGE TIME DEPOSITS.

TOTAL TIME DEPOS1TS
COMPOUNDED ANNUAL RATES OF CHANGE ,
8/11/86

11/10/86

1/12/87

2/9/87

3.8
4.3
4.6
5.2
5.8
6.2
6.6
6.5

8.2
7.8
8.0
8.6
8.8
9.0
8.5

6.9
7.6
8.6
8.8
9. 1
8.5

7.8
9.0
9.2
9.5
8.7

AVERAGE OF FOUR WEEKS ENDING:
3/9/87

4/13/87

5/11/87

10.8
10.7
9.2

10.1
8.4

6/8/87

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/12/87
2/ 9/87
3/ 9/87
4/13/87
5/11/87
6/ 8/87
7/13/87
8/10/87


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

10. 1
10.0
10.1
9.1

7.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
IP87

BILLIONS

of

DOLLARS

MILLIONS

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 10, 1987
BILLIONS OF DOLLARS
1987
JUL.
AUG.

BILLIONS OF DOLLARS

MILLIONS
15
22
29
5

411
367
671
441
ADJUSTMENT + SEASONAL
BORROWINGS

2

16 SO 13 27

AUG

10 24

SEP

8 22

5 IB

3

17 31

14 28 11

JAN

FEB

25

11

25

8 22

6 20

3 17

MAR

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 19, 1987


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
95 ---------- 1------------- ,----I 1987
MILLIONS
JUL.

8

BILLIONS OF DOLLARS
------ ------------- ----------- 95

80,093
80,295

“ AUG.

4 16

JUN

5

2

16 SO 13 27 10 24

JUL

AUG

SEP
1986

8 22

OCT

5 19

NOV

3

17 31

DEC

14 26 II

JAN

25 II

FEB

25

MAR

6 22

APR

6 20

MAY
1987

3 17

1

JUN

JUL

15 29 12 26

AUG

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 12, 1987

BUSINESS LOANS u

( COMMERCIAL

AND

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS
BILLIONS OF DOLLARS

SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

_ COMPOUNDED ANNUAL RATES
_ OF CHANGE, AVERAGE OF
THE FOUR *EEKS ENDING
AUGUST 5, 1987 FROM
— THE FOUR WEEKS END INGt *
- MAY
APR.

987
987
987
987
987
986
986

-9.4

JUL.

265

-

260

1
272,94

AUG.

-

5

1 1 1 I 1 I I I I I I I I I
4 18

2 16 30 13 27 10 24

AUG

SEP

8 22

5 19

3 17 31

14 28 II

JAN

25 II

FEB

25

8 22

MAR

6 20

3

MAY

JUN

17

1

15 29 12 26

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 5, 1987
1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 61.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11