Full text of U.S. Financial Data : August 26, 1983

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X

U.S. Financial Data
Federal Reserve Bank of St. Louis
>-y

______________________ _____________________________

August 26,1983

iBRARY
AUG

3

0 7983

The money stock (Ml) rose at an annual rate of 7.3
percent from the four weeks ending June 15 to the four
weeks ending August 17 (see page 4). Since money rose at a
relatively rapid 14.4 percent rate for the previous 10 months,
the most recent data indicate a shift toward a less rapid
growth in money. This development is consistent with the
midyear review in which the Federal Open Market
Committee adopted, among other policy guides, a target
range of from 5 to 9 percent (annual rate) for money growth
from the second quarter to the fourth quarter of this year.
The average 13 percent growth of money over the
past year was a significant acceleration from the previous 15
months when money rose at only a 4.8 percent annual rate. A
marked and sustained increase in the trend growth of money
has generally had an expansive effect on sales, production,
employment and income with a brief lag. By November of
last year, the economic recession was halted and, since that
time, data indicate that the economic expansion has been
pronounced.
Since last November, industrial production has
increased at a rapid 15.6 percent annual rate, and total
civilian employment has risen at a 3.3 percent rate. Both
production and employment had declined from mid-1981 to
November 1982.


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

—Norman N. Bowsher

2
ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

200

BILLIONS
JUL.

20

198

195.4

— AUG

196

195.4
196.2

194
192

186
184
182
180
178
176
174

7 21

4 18

JUL

AUG

I

IS

19 27 10 2 4

OCT

8 22

5 18

2 18

2

16 90 13 27

NOV

APR

|! 29

8 22

« 20

3 IT 31

14 28

MAY

LATEST DATA PLOTTED WEEK ENDING, AUGUST 24, 1983
THE ADJUSTED MONETARY BASE CONSISTS OF, ( 1 ) RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT
FEDERAL RESERVE BAhKS, (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE
VAULTS OF ALL DEPOSIT^ INSTITUTIONS), AND (3) AN ADJUSTMENT FOR RESERVE REOUIROCNT 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.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING,
8/25/82

11Z24/82

7.8
9.4
10.6
10.2
10.2
10.5
9.6
9.4

1 1.9
13.5
12.2
I 1.9
12. 1
10.7
10.2

1/Z6/83

2/23/83

3/23/83

12.6
1 1 .8
12.2
10.0
9.4

8.8
10.3
8.1
7.8

4/27/83

5/23/83

6/22/83

7,4
7.0

4.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING,
1/28/S3
2/23/83
3/23/83
4/27/83
5/25/83
6/22/83
7/27/83
8/24/83


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

18.5
14.3
13.3
13.3
11.2
10.5

11.8
8.2
7.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ADJUSTED RESERVES
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

,1993
JUL.

BILLIONS

19

4 IB

JUL

BILLIONS of dollars

54.8

1

IS 29

AUG

15 27 10 24

OCT

8 22

NOV

5 19

2 16

JAN

FEB

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 17,

2

IB 50 IS 27 II 28
APR
MAY

8 22

6 20

5 17 51

14 28

1083

ADJUSTED MONETARY BASE (RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL RESERVE
BANKS PLUS CURRENCY IN CIRCULATION) LESS CURRENCY HELD BY THE NONBANK PUBLIC.

ADJUSTED RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
8/18/82

11/17/82

1/10/83

2/16/83

3/16/83

4/20/83

5/18/83

6/15/83

7.3
9.5
12.2
11.9
10. 1
11.6
10.5
9.5

12.4
16.6
15.2
1 1 .8
13.8
12.0
10.4

26.8
20.2
13.8
16.2
13.3
11.1

19.2
1 1.2
M.8
11.8
9.5

3.3
10.2
7.8
5.9

10. 1
6.9
4.6

12.5
7.7

0.0

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
1/10/83
2/16/83
3/16/83
4/20/83
5/18/83
6/15/83
7/20/83
8/17/83


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

lafii

BILLIONS OF DOLLARS
525

fliLLiQMa

520
515
510
505
500
405
490
485
480
475
470
465
460
455
450
445
I I I I

13 29

JUL

AUG

13 27 10 24

OCT

8 22

NOV

I I I I
3 19

2

JAN

FEB

IS

II

2 16

23

8 22

a 20

3 17 31

14 2a

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 17, 1983
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
Ml CONSISTS OF CURRENCY HELD BY THE NONBANK PUBLIC PLUS COIAERCJAL BANK DEMAND DEPOSITS
HELD BY THE NONBANK PUBLIC (EXCLUDING THOSE HELD BY FOREIGN BANKS AND OFFICIAL INSTITUTIONS)
AND OTHER CHECKABLE DEPOSITS OF ALL DEPOSITORY INSTITUTIONS PLUS TRAVELERS* CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
8/18/82

11/17/82

12.5
13.8
15. 1
13.2
13.6
14.4
13.4
13.2

13.2
15.6
12.6
13.3
14.5
13. 1
12.8

1/19/83

AVERAGE OF FOUR WEEKS ENDING*

2/16/83

3/16/83

4/20/83

5/18/83

6/15/83

11.7
13.3
15.4
13.0
12.6

9. 1
13.0
10.8
10.7

19.8
14.0
13.0

12.6
11.8

7.3

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


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

22.5
14.6
15.2
16.5
14.3
13.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0

r-

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

1983

RATIO

Ml MULTIPLIER

LATEST DATA PLOTTED WEEK ENDING* AUGUST 17, 1083
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES
auwoi
I»ojENDING*
rnuw
___THE
FOURII,
*EEKS

JUN.

15,
8,

10,

— APR
MAR.
r
ud.
NOV.

16,
io■
17;

_

18.

AUS.

1983
1983
1983
1983
983
j1982
tfoj
1982

CURRENCY
10.0

±231
JUL.

13

BILLIONS
40.3

I I I I I I I I I I I I I I I I I
7 21

4 19

JUL

AUG

IS 29 13 27 | 0 24

OCT

NOV

S 22

S 19

2 IS

2 IS 30 13 27 II 23

JAN

FEB

APR

9 22

6 20

3 IT 31

14 2»

MAY

LATEST DATA PLOTTED WEEK ENDING: AUGUST 17, 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

PERCENT
17.0

CORPI

11.0

90 DAY

8.0

2 Ifl SO IS 27 10 24
AUG
SEP

• 22

S 19

S 17 SI M 2« II 25 II 29
JAN
FEB
MAR

« 22

6 20
MAY

5 IT
JUN

15 20 12

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. AUGUST 26.

1983
JULY

1
8
15
22
29
AUG.
5
12
19
26 *
SEP.
2
9
16
23
30

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS’
ACCEPTANCES

9.28
9.47
9.51
9.53
9.54
9.82
9.99
9.78
9.48

9.14
9. 13
9. 15
9. 18
9. 17
9.42
9.59
9.46
9.20

9.15
9.33
9.44
9.44
9.44
9.70
9.87
9.62
9.39

CORPORATE
Aaa BONDS
1 1 .85
12,02
12. 13
12, 17
12.31
12.62
12.71
12,40
12.31

1983

CORPORATE
Baa BONDS

MUNICIPAL
BONDS XK

13.39
13.42
13.41
13.36
13.39
13,64
13.75
13.63
13.55

9.36
9.55
9.54
9.44
9.60
9.74
9.85
9.70
N. A.

* 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 ENDED FRIDAY

PERCENT

PERCENT

TREASURY SECUR ITIES

TREASl

2 16 SO 13 27 10 24

AUG

0 22

S IS

3 IT SI

SEP

14 20 II 25 11

JAN

FEB

25

0 22

MAR

1082

6 20

9 17

MAY

JUN

I

13 20 12 20

1983

LATEST OATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: AUGUST 26,

1983
JULY

1
8
15
22
29
AUG.
5
12
19
26 X
SEP.
2
9
16
23
30

FEDERAL
FUNDS X*

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL HOOK

1-YEAR
TREASURY
BILL

8.90
9.39
9.21
9.43
9.46
9.59
9.66
9.67
9.41

8.88
9.07
9. 10
9. 10
9. 13
9.41
9.52
9.35
9. 16

9.14
9.20
9.26
9.37
9.31
9.56
9.70
9.55
9.29

8.98
9.27
9.39
9.33
9.44
9.71
9.80
9.50
9.33

3-YEAR
TREASURY
SECURITIES
10.80
11.07
11.22
11.22
11.39
11 .74
11.89
11.49
11.32

* AVERAGES OF RATES AVAILABLE.
“ ‘
THAN MTE
*** NEW ISSUE RATE

ftSlugf BU?"YiafDSONSD?8CoSS/RBA8li."lE C0“’UTED BY THE FEDERAL RESERVE


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

S 23

■= ST'

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

1983

LONG-TERM
TREASURY
SECURITIES
11 .09
11.34
11.46
11.41
11.62
11.92
12.01
11.65
11.51

8
TOTAL CHECKABLE DEPOSITS^
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
380 c--------.---------- 1--------

BILLIONS OF DOLLARS
------ ---------------------- ^ 380

BILLIONS
JUL.
Z

369.7
370.5
371.2
371.5
370.8
370.6

13

AUG.

4 10
JUL

I

IS 20 IS 27 10 24

AUG

OCT

0 22

NOV

9 10

2 10

JAN

FEB

LATEST DATA PLOTTED WEEK END I NO i AUGUST 17.

2 10 SO IS 27
APR

II

29

• 22

0 20

S 17 31

14 20

MAY

1083

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

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING'

8/18/82

11/17/82

1/10/83

2/16/83

3/16/83

4/20/83

14.6
16.3
17.5
14.9
15.3
16.3
15. 1
14.8

15.2
17.5
13.3
14.1
15.8
14.3
13.9

25.8
15.3
16.1
18.1
15.6
15.0

10.7
13. 1
16.3
13.7
13.3

8.1
13.6
11.3

22.8
15.9

11.3

14.7

5/18/83

6/15/83

14,6
13.5

8.0

TO THE AVERAGE
OF FOUR WEEKS
ENDING'
1/10/83
2/16/83
3/16/83
4/20/83
5/18/83
6/13/83
7/20/83
8/17/83


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL TIME DEPOSITSu
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

LLIONS OF DOLLARS

ILL IONS OF DOLLARS

Tq 850
1S51
JUL.

BILLIONS

13
692.3
697.0
697.9

‘4

JUL

IS

I

IS 18

AUG

13 27

OCT

10 24

ft 22

3

19

2

IS

2

IS 30

NOV

IS 27

APR

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 17,

II

S 22

S 20

3 17 II

M H

MAY

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/
July

6
13
20
27
August 3
10
17

MMMFs 2/

$368.2
368.8
368.6
368.0
367.9
367.8
366.6

$176.9
177.3
177.2
176.6
176.7
177.4
177.6

SUPER NOWs 3/
$33.1
33.1
32.9
32.7
33.4
33.8
33.7

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


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
450

W_L

440

E-JUL.

450

|“ AUG.

420

J
l?

410
400
390
380
370

BILLIONS OF DOLLARS
460
=
=

|I

=
i
SMALL TIME JEPOS

=

i

i

i
=
1

=

=

1

I

=
1

=

=

=

=

i

=

320
310
300

0

111

n.i -L-L1 1

1 1 1

.11 1

1111

ILL _LLL

LATEST DATA PLOTTED WEEK ENDING* AUGUST |7,

1 1 1 1

1 1 1

1 1 1

1 II 1

=

1983
JUL-

a

iAUG-

.3

l
180

1 1 1

1
SAVING 3 DEP 3SITS

1

E

E

E

A

165

i

=
160

---

=
E

E

\

330
320
310
.300

0

175
170
165
160

=
E

\

=

180

155

\

150
143

z

=
140

i i i

1

170

155

350

BILLIONS OF DOLLARS
190
=
185
z

1
B.lU..mw£

175

1111

j

1983

BILLIONS OF DOLLARS
190 _
i
185

360

340

340
330

380
370

=

360
350

400
390

y
S

I

410

150
145
140

E

E
135

Lll
JXL 1111
111
111
1111
7 21
4 18 I 19 29 19 27 10 24 8 22
JUL
AUG SEP
OCT
NOV
DEC
1982

111
9 19
JAN

111
1111
111
1111
2 18 90 19 27 II 29 8 22
MAR
APR
MAY
JUN
1983

111
2 18
FEB

jjo!

111 J-11L
6 20
9 17 91 14 28
JUL
AUG
SEP

LATEST DATA PLOTTED WEEK ENDING; AUGUST 17, 1983
1/ COMMERCIAL BANK TIIC DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
BILLIONS OF DOLLARS

AVERAGES

JUL. 20

1233

AUG.

1315
1520
1478
1580

3
10
17
24

OF

DAILY FIGURES

BILLIONS OF DOLLARS
4,5
4.0
3.5
3.0
2.5

11.1 1.1.1 1 1
7 21

4 IS

JUL

AUG

I

IS 28

1-LLLU

IS 27 10 24

OCT

8 22

NOV

5 10

2 (0

JAN

FEB

2 18 30 IS 27

APR

II 23

8 22

8 20

» 17 31

14 28

MAY

LATEST DATA PLOTTED WEEK ENDING* AUGUST 24, 1083

BUSINESS LOANS u

(COMMERCIAL AND INDUSTRIAL)

WEEKLY REPORT ING LARGE COMMERCiAL BANKS 2/
SEASONALLY ADJUSTED BY THIS BANK
BILLIONS OF DOLLARS
236
---------r
t---------------------I
COMPOUNDED
ANNUAL
RA TES
.
OF CHANGE. AVERAGE 01F
__THE FOUR WEEKS END IN 6
_ AUGUST 17, 1983 FROM
_ THE FOUR WEEKS END INGt

BILLIONS OF DOLLARS
236

15,1983
18,1983
20, 1983
16, J983
16,1983

~ AUG , 18,

1982

3.4
3.7
-0.7

-1.9

-1.2

M il M il .n il

- JUN.
MAY
APR.
r MAR.
- FEB.

n il

1

1.2

220

m i
216

216

212
198.

2
208

I

JUL. 13
20
27
3
10
17

I
I

204
"l 1 1
JUL

-LLL -i
AUG

i

i

i

in

-LLL -LLLL -LLL

13 27 10 24

SEP

OCT
1B62

NOV

8 22

8 10

DEC

JAN

1 1 1
2

18

FEB

_LLLL

-

215,S4I
216,099
215,395
216,744
216,667
215,905

“
_
_
_
_
~

III -1.1 1.. -LLLL 11111111111 \

2 18 30 13 27 II 25 8 22

MAR

MILL IQas

APR

MAY
JUN
1983

8

JUL

3

17 31

AUG

14 2

SEP

LATEST DATA PLOTTED WEEK ENDING* AUGUST 17, 1983
1/ BUSINESS LOANS INCLUDE BANKERS* ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOICSTIC 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
275
270
265
260
255
250

230
225

I I I I
JUL

AUG

OCT

NOV

APR

MAY

LATEST DATA PLOTTED WEEK END I NO< AUGUST 17, 1083
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS