Full text of U.S. Financial Data : August 20, 1992

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AUe 2 4 1992
serve Bank

iBrMicial Data

llll
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A KI SI KM
JHItANknt
fir slums

THE WEEK'S HIGHLIGHTS:
*/ Housing starts declined 2.8 percent during July, following a
revised decline of 3.8 percent in June. Except for the South, which
recorded a 0.4 percent increase, every region showed a decline.
\/ Industrial production increased at a 4.5 percent annual rate during
July, and has risen in five of the last six months. Production has
increased at a 4.4 percent annual rate during the last six months.

✓

Business inventories increased 0.6 percent during June. Total
business sales rose 1.6 percent, the largest increase since April
1991. At the current level of sales, business inventories would be
depleted in 1.5 months, down from 1.52 months in May.

✓

The merchandise trade deficit for June was $6.6 billion, down from
$7.1 billion in May. For the first half of1992, the deficit was $35.5
billion, up $5 billion compared to the same period a year ago.

Views expressed do not necessarily reflect official positions of the Federal Reserve System.
U.S. Financial Data is published weekly by the Research and Public Information Division of the
Federal Reserve Bank of St. Louis. The cost for a subscription is as follows:
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must be payable in U.S. dollars and, except for those from Canada, must be drawn on a U.S. bank.

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Federal Reserve Bank of St. Louis

2
Adjusted Monetary Base
Billions of Dollars

1992

Aug

Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions

24

364.2

5

368.6

15 29 12 26

Adjusted Monetary Base
To the average of Compounded annual rates of change, average of two maintenance periods endina11/1.5/91 1/22/92 2/19/92 3/18/92 4/1S/92 5/13/92 6/24/92
two maintenance
periods ending:
1/22/92
2/19/92
3/18/92
4/15/92
5/13/92
6/24/92
7/22/92
8/19/92

7.4
9.7
9.8
9.0
9.1
8.4
8.0
9.0


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Federal Reserve Bank of St. Louis

10.0
10.1
8.8
8.9
8.1
7.6
8.9

16.7
12.0
11.4
9.5
8.6
10.2

6.8
7.6
6.6
6.1
8.3

6.3
5.6
5.2
7.9

rreparea

6.5
5.7
8.9

Dy

8.8

12.0

reaerai reserve Bank of St. Louis

Money Stock (Ml) and Total Checkable Deposits

1992
Jul

Billions of Dollars

Averages ot uaiiy figures
Seasonally Adjusted

Billions of Dollars

M1
Billions

6
13
20
27
\ug 3
10

959.6
956.3
961.0
962.3
966.3
972.2

TCD (right scale)
M1 (left scale)

TCD
1992

Billions

Jul

6 674.4
13 670.6
20 674.1
27 674.5
Aug 3 677.8
10 682.3

3 17 1 15 29 12 28 9 23 7 21 4 18
Jun
Jul
Aug
Sep Oct
Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

Latest data plotted week ending: August 10, 1992
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.
Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.

Money Stock (Ml)
Compounded annual rates of change, average of four weeks ending:
To the average 8/12/91 11/11/91 1/13/92 2/10/92 3/9/92
4/13/92 5/11/92 6/8/92
of four weeks
ending:
1/13/92
2/10/92
3/9/92
4/13/92
5/11/92
6/8/92
7/13/92
8/10/92

11.2
13.4
15.1
13.4
13.5
13.1
11.5
11.9


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Federal Reserve Bank of St. Louis

15.9
18.3
14.9
14.8
14.0
11.7
12.3

26.6
17.4
16.6
15.1
11.7
12.5

13.5
13.7
12.5
9.2
10.5

8.4
8.5
5.7
7.8

11.4
6.3
8.9

3.1
7.4

6.8

Prepared by Federal Reserve Bank of St Louis

3
i

4
Adjusted Reserves
Billions of Dollars

Seasonally Adjusted

1992

Billions

May 27
Jun 10
24
Jul 8

89.2 '
87.3
88.0
86.1

Aug 5

88.2

22

88.2

Billions of Dollars

.

II

3

17

1

IS 29 1! 26
Jul
Aug

Latest data plotted two weeks ending: August 5, 1992
Adjusted reserves is the difference between adjusted monetary base and currency component of Ml.

---------------------------- -----

Adjusted Reserves
To the average of Compounded annual rates of change, average of two maintenance periods endinq:
8/7/91 10/30/91 1/8/92
2/5/92
3/4/92
4/1/92 4/29/92 6/10/92
two maintenance
periods ending:
1/8/92
2/5/92
3/4/92
4/1/92
4/29/92
8/10/92
7/8/92
8/5/92

9.6
9.1
17.1
15.8
16.5
14.7
11.8
12.2


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Federal Reserve Bank of St. Louis

7.1
21.0
18.2
18.9
16.0
11.9
12.4

40.6
28.1
26.8
20.2
13.7
14.2

40.4
23.4
15.0
15.4

9.8
3.4
5.9

5.8

1.3

-0.7

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier

1/

Averages of Daily Figures
Seasonally Adjusted
Compounded annual
rates of change,
average of the four
weeks ending
August 3, 1992 from
the four weeks ending:
Aug 5, 1991 2.9
Nov 11, 1991
Feb 3, 1992
Mar 16, 1992
Apr 13, 1992
May 11, 1992
1992 -1.2

' 3 17

2.616
2.636
2.61 1
2.631

May 25

2615
2.616 — 2.9
, A

i 15 29 12 26 9 23 7 21 4 1! 2 16 30 13 27 10 24 9 23 6 20 4 10 i 15 29 13 27 10 24

Jun Jul

Aug

Sep

Oct

Nov

Dec

Jon

Feb

Mar

1991
Latest data plotted two weeks ending: August 3, 1992

Apr

May

Jun

Jul

Aug

1992

.Currency Component
—
of M12//

y

nuyuei

Billions of Dollars

285

w

A.__ n„;iv riniiree
Averages
of Daily Figures
Seasonally Adjusted

Billions of Dollars

285

Compounded annual
rates of change
average of the four
weeks ending
August 10, 1992 from
the four weeks ending:
Aug 12. 1991 7.8
Nov 11. 1991 7.5
Feb 10, 1992 7.7
Mar 9. 1992 7.
Apr 13, 1992 9.4
May 11. 1992 9.7
Jun 8. 1992 11.4

1992
Jul

255

' 17'

Jun

' 15 ’ 29 12' 21' 9 ' 23' 7 II' '( ' 11'
Jul

Aug

Sep

Oct

Nov

\ '

16' 11 13' 27' 10' 24 9 ' 2!

Dec

Jan

Feb

Mar

V 20' 4
Apr

1991

277.3
277.8
279.1
280.0
280.8
10 282.2

16' ! 15' 29 13 27 10 24

May

Jun

Jul

Aug

iyy/

Latest data plotted week ending: August 10, 1992
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

Billions

6
13
20
27

5

Bonk of ^ Louis

6

Yields on Selected Securities

Percent

ID.

10.0

Coip orate
Ao< Bonds

•«% —

*N

V

—

Si ___

8.0

t

/
---------N-.

6.0

7.0

'-S

— ***Mur Idpal B »ndt

—e—

—•

* v. ✓ Ik
\

Prirrie Bank

(.0

WN

5.0

5.0

4.0

Com merclal
|3opw
3.0 h i i*
Jun

' 1 1 T~' J l»
• 1 ■ ' 1 ' TIM1'T
11 !S • 1! S 10 3 17 31 14 II 13 17 it 24 8 22 5 11
Aug

Jul

Sep
1991

Oct

Nov Dec

Jan

Feb

Mar

Apr

May
1992

Jun

I 17 31 14 28
Jul

Aug

Latest data plotted are averages of rates available for the week ending: August 21,1992

1992

90—Day
CDs

30—Day
Commercial
Paper

90-Day
Bankers'
Acceptances

Corporate

Corporate

Municipal

May 29
Jun 5
12
19
26
Jul 3
10
17
24
31
Aug 7
14
21 *

3.89
3.91
3.86
3.83
3.84
3.75
3.37
3.34
3.32
3.32
3.32
3.28
3.28

3.92
3.94
3.91
3.89
3.89
3.80
3.45
3.42
3.40
3.36
3.39
3.35
3.38

3.84
3.84
3.81
3.79
3.79
3.66
3.33
3.28
3.29
3.29
3.28
3.25
3.25

8.25
8.24
8.24
8.22
8.20
8.16
8.08
8.09
8.06
8.01
7.99
7.93
7.86

9.11
9.09
9.08
9.02
9.02
8,98
8.89
8.87
8.82
8.71
8.68
8.62
8.62

6.58
6.57
6.52
6.46
6.42
6.38
6.17
6.16
6.05
5.89
6.06
6.05
NA

* Averages of rates available
** Bond Buyer's Average Index of 20 municipal bonds, Thursday data
N.A. — Not Available
Prepared by Federal Reserve Bank of St. Louis


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

3.0

Selected Interest Rates

Percent

Averoges of Daily Figures

Percent

iFundt Rat*

Jun

Jul

Aug

Sep
1991

Oct

Nov

Dec

Jan

Feb

Mar

Apr
May
1992

Jun

Jul

Aug

Latest data plotted are averages of rates available for the week ending: August 21, 1992

Federal
Funds *+

3—Month
Treasury

Securities

Long-Term
Treasury
Securities

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
... Auction average (discount)
Preptir.d by Federai Reserve Bank of St. Louis


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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

Billions of Dollars

M2
1992 Billions
Jul 0 3458.1
13 3456.9
20 3455.2.
27 3456.9
Aug 3 3458.4
10 3467.5

(left scale)'

Non-Mi M2 (right scale).

Non-M1 M2
1992
Jul

6
13
20
27
Aug 3
10

Jun

Jul

Aug

Sep
1991

Oct

Nov

Billions
2498.5
2500.6
2494.2
2494.6
2492.1
2495.3

I5 29 13 27 10 24

Dec

Latest data plotted week ending: August 10, 1992
Current data appear in the Federal Reserve Board's H.6 release.
M?,1* 55*
of. M1*
PPs ,S3.ued by all commercial banks, overnight Eurodollars issued to U.S. residents
««J°re'9n , nches
4*?' ■ nk?» s°v,n9s (including money market deposrt 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 averaae

,

Compounded annual rates of change, average of four weeks ending:

of four weekT 8/12/91

11/11/91

1/13/92

2/10/92

3/9/92

1.5
1.3
0.7
-0.2
0.0

-1.4
-1.4
-1.9
-1.3

V13/S2

5/11/92

6/8/92

ending:
1/13/92
2/10/92
3/9/92
4/13/92
5/11/92
6/8/92
7/13/92
8/10/92

2.4
3.2
3.8
2.7
2.6
2.2
1.6
1.6


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

4.0
4.9
3.0
2.7
2.1
1.3
1.3

7.5
3.3
2.7
1.9
0.9
1.0

-0.3
-1.4
-0.8

-2.5
-1.3

Prepared by Federal Reserve Bank of St. Louis

Savings and Money Market Funds
Averages of Daily Figures
Billions of Dollars
1160 i -------- !-----—,---------Savings
1992 Billions
Jul

415

6 1130.0
113
113
11:
114
-V

390

l

20
27
Aug 3
10
—*

-ooNoqro

1115

Billions of Dollars

Seasonally Adjusted

Mon< y Martiet (rigt t scale i

365

e»»* ‘ ' “ "
V

340

1025
Mo ney M arket
m2 Bill ons

S< vfngs leposlt i (left scale)

935

Jul

6

34 •8.3

20
27
Aug 3
10

349.4
349.7
349.1
346.9

I
I
1 “■»—T“'
15 29 12 26 9 23 7 21 4 18 2 16 30 13 27 10 21 9 23 6 20 4 10 1 15 29 13 2? 10 24

' r-*-1 ' 1 ' 1'* 1 ' 1

3 17

Jun

Aug

Jul

Sep
1991

Oct

Nov

Dec

Jan

Feb

Mar

Apr May
1992

Jul

Jun

315

290

Aug

Note: Savings deposits are at all depository institutions. Money market funds are general purpose
and broker/dealer.
1 /

Large and Small Time Deposits17

_ ..
Billions of Dollars

All Depository Institutions
Averages of Daily Figures. Seasonally Adjusted

Billions of Dollars

550

---------1----------1--------Small Time
1992 Billions
'"v

Jul

6
13
20

948.2
945.1
941.4

Aug

3
0

93 \.2
92 9.9

Sma! Time right s cale)

500
•V
•s,

s

\

450

400

>
La rge
121U.
— Jul
13
20
27
Aug 3
10
1 . ■

Tirne
B1L Ions

1160

1100

1040
i

\

V

Large Ime (1 9ft sea »)

>

>

390.6
386.9
394.7
386.5
384.6
■ ,1...........

s

V

*'t TTT T 1 1 t- 1 l '
1 'T t » 1

1 1 T- h n*r *T TTT • 1 1

350 3 17 1 15 29 12 26 9 23 7 21 4 II 2 16 30 '13 1 27' T 10 24 9 23 6 20 4 18 1 15 29 • 13i 127r 101 ■241
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

1991

Feb

Mar

Apr

May

Jun

Jul

Aug

1992

Latest data platted week ending: August 10. 1992
1 / Large time deposits are those issued in demoninations of $100,000 or more.


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

Prepared by Federal Reserve Bank of St. Louis

9

920

10
Total Borrowings
»-rom federal Reserve Bank9
Averages of Daily Figures

Billions of Dollars

1992

Billions of Dollars

Billions

_ Jul 15
22
29
Aug 5
12
_
19

0.214
0.217
0.237
0.243
0.229
0.268

15 29 12 26
Jul

Aug

Adjustment + Seasonal Borrowings
From Federal Reserve Banks

Billions of Dollars

2.5

2.0

"

—

I

Billions of Dollars
I

2.5

1992

Billions

Jul 15
22
29
Aug 5
12
19

0.214
0.217
0 237
0 243
0 229
0 268

2.0

1.5

1.5

t.O

1.0
—j

0.5

J
-r~T '

Jun

LL
1 1 M -• i • i

Jul

Aug

VN
1 1 1 T» l 1

Sep

—

-V

j|

0.5

i

A-

J

—^

\ 0.0

J 23

6 20 4 18 1 15 29 12 26 II 25 I 22 6 20 ] 17 I 15 29 12 26

Oct

Nov

Dec

1991

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

1992

Latest data plotted week ending: August 19, 1992


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

Prepared by Federal Reserve Bank of St. Louis

Commercial Paper of Nonfinanciai Companies
Billions of Dollars

Billions of Dollars

Not Seasonally Adjusted

180

180
1992
Jul

Billions

8
15
22
29
Aug 5
12

.

143.508
142.950
140.593
138.774
139.513
138.58C

i i *i i i ■

s 19 3 17
Jun

Jul

i i i i11 i 1 i ^ i 1 i

i 1 i 1 Ji 1 i 1

t- |~i 1 i11 i 1 i11 i 1 i If ■ i ■ i ■ I

i ■ i ■

1 ' 1 i

Jun

Jul

51 H !! 11 !5 ! !3 i !0 1 11 1 15 !) 1! !« II 25 I 22 S 2! 5 17 1 15 2! 12 21
Aug Sep Oct
1991

Nov

Dec

Jan

Feb

Mar

Apr May
1992

Aug

Latest data plotted week ending: August 12, 1992

Commercial and Industrial Loans17
Weekly Reporting Large Commercial Banks2/
Seasonally Adjusted

Billions of Dollars

380
360
340
320

1992
_ Jul

8
15
22
29
, Aug 5

August 5, 1992 from
the four weeks ending:
Aug 7, 1991 -8.3
Feb
Mar
Apr
May
Jui

5.
4,
8,
6,
3.

Billions of Dollars

1992 -8.4
1992 -9.1
1992-11.4
1992-11.6
992-1S .9

310

I

—

I
I
I,
Compounded annual
rates of change,
average of the four

Billions
280.680—
278.130
279.491
278.028
276.467
277.386__

360
340
320

-1

300
280

260

1 ■ M

i r~r

Jun

Jul

Aug

Sep
1991

Oct

Nov

*i ' i '

Dec

« i '

Jan

1 i • i *» i ■ f •

Feb

Mar

nr-.- ■ i ' i

Apr
May
1992

Jun

Jul

i

260

Aug

Latest data plotted week ending: August 5, 1992
1 / Commercial and industrial loans Include banker's acceptances and commercial paper.
2/ Banks with domestic assets greater than $1 A billion
Prepared by Federal Reserve Bank of St. Louis


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

11

Dollar's Trade-Weighted Exchange Index
Averages of Daily Figures

I05
1992 1973=100

Aug 5

S IS 3 17 31 IS 71 II 25 ! 73 S 71 ♦ II 1 15 29 12 !( II 25
Jun
Jul
Aug
Sep
Oct
Nov Dec
Jon
Feb

1991

Mor

2! f 21 3 17 I IS 29 12 29

Apr

May

Jun

Jul

Aug

Latest date plotted week ending: August 19, 1992
Cun-ent data appear in the Federal Reserve Board's H.10 release.
countryecurrendes°Vara^M


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

*h' f°rei«r,-curTenc)' Pric« °f »>• U.S. dollar, computed using 10 industrial
Prepared by Federal Reserve Bank of St. Louis

>1
K

<
K
Pi
M
01 -J