Full text of U.S. Financial Data : August 29, 1985

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Federal Reserve Bank
of St. Louis

USTTinancial Data
SEP 0 3 1985

August 29, 1985

Since the beginning of 1984, the growth rate of the adjusted
monetary base has changed substantially several times. As the
table below shows, each of these accelerations and decelerations
has been associated with a corresponding change in the growth
rate of Ml. For example, the growth rate of the base fell from a
9.6 percent rate during the four and a half months ending in
March to a 2.1 percent rate during the next two months. This 7.5
percentage-point decline was reflected in a 6.7 percentage-point
decline in the growth rate of Ml. Since mid-May, the growth rate
of the base has accelerated to a 10 percent annual rate, and once
again its acceleration (7.9 percentage points) has been associated
with a comparable rise in the growth rate of Ml (11.5 percentage
points).
Growth Rates of Monetary Aggregates//
Period
1/2/84-6/25/84
6/25/84-10/29/84
10/29/84-3/11/85
3/11/85-5/13/85
5/13/85-8/19/85

Adjusted monetary base//
11.0%
1.9
9.6
2.1
10.0

Ml
7.7%
0.3
12.2
5.6
17.1

2/ Compounded annual rates, seasonally adjusted for four-week
averages ending dates shown
2/ Week ending two days later than dates shown
—Mack Ott
THE
FEDERAL
A
RESERVE
XltAMiof
nr st. Uh ls


views expressed do not necessarily reflect official positions of the Federal Reserve system.
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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

JUL.

24

BILLIONS OF DOLLARS
232

230

227.4

226.9
229.7
229.2
227. I
229.3

228

226

224

222

220
218

216

214

212
I I I I
4 18

1

13 29 12 20 10 24

7 21

S to

NOV

DEC

2 16 30 13 27

FEB

13 27

MAR

tO 24

8 22

AUO

APR

SEP

LATEST DATA PLOTTED WEEK ENDINGi AUGUST 28, 1985
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 AM) IN THE VAULTS OF ALL
DEPOSITORY INSTITUTIONS) AND 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 AVAILABLE FROM THIS BANK.
RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE
8/29/84

11/28/84

AVERAGE OF FOUR WEEKS ENDING:

1/30/85

2/27/85

3/27/85

10.2
6.2
8.3
10.3
8.8
8. 1

6.5
9.2
1 1.4
9.4
8.6

6.7
10.3
8.)
7.4

5/1/85

5/29/85

6/26/85

9.6
7.9

3.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/30/85
2/27/85
3/27/85
5/ 1/85
5/29/85
6/26/85
7/31/85
8/28/85

6.6
6.4
7.5
6.4
7.3
8.4
7.8
7.5


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Federal Reserve Bank of St. Louis

6.2
8.3
6.3
7.7
9. 1
8.2
7.8

17.2
11.5
9.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK ( Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

1SS&
JUL.
=

15

AUG

BILLIONS OF DOLLARS
610

BULL JONS

605

591.8
595.5

600

602. 1
603.2
606.0

595
590
585

2 16 30 IS 27 10 24
AUG
SEP

8 22

5 IS

3 17 31

14 28 11 25 II 25
JAN
FEB
MAR

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 19.

8 22

8 20

3 17

MAY

JUN

1

13 28 12 26

9 23

1985

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
DEPOSITS AND TRAVELERS CHECKS.

BY THE WOMBAT PUBLIC, DEMAND DEPOSITS, OTHER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE ,
8/20/84

11/19/84

6.2
6.8
7.6
7.4
7.5
8.9
9.3
9.9

1 1 .0
11.5
10.2
9.9
1 1.6
11 .9
12.3

1/21/85

AVERAGE OF FOUR WEEKS ENDINGt

2/18/85

3/18/85

4/22/85

5/20/85

6/17/85

9.0
8.8
12.1
12.4
13.0

7.0
1 1 .8
12.2
13.0

15.8
14.8
15.2

17.8
17.3

14.7

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
1/21/85
2/18/85
3/18/85
4/22/85
5/20/85
6/17/85
7/22/85
8/19/85


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Federal Reserve Bank of St. Louis

11.5
9.3
9. 1
1 1.7
12.0
12.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIERi/
CURRENCY COMPONENT OF MONEY STOCK v
RATIO
2.9

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

2.9

--------- 1------- 1------1985
jul.

AUG

RATI

i§

a

2-§9

ll

Ml MU LTIPL

IER

J

A
u

____

2.6

V"
u

1111

y-' y-

111

111..

y yi y
i ui 1 1 1

1111

-LLL -LLL .ILL

1 1 1 1

111

111

1111

III-

2.6

1 1 1 1

i

LATEST DATA PLOTTED WEEK ENDING: AUGUST 19, 1985
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

170

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE wr
OF
___Ur
THEorwnuc,
FOUR *EEKS ENDING
_ AUGUST
1985
FROM
AUUUO
i 19.
19,llKEEKS
I 90JENDING
rnu»i
THE FOUR

168
166

JUN. 17, 1985
MAY' 20, 1985
1985
APR. 22
— MAR! 18, 1985
FEB. 18, 1985
“ NOVl 19 * 1984
__ AUG. 20, 1984

10.2
10.0

164
162

CURRENCY

1985
JUL.

BILLIONS

15

164.8
165.4
165.9
166.7
167.2

111111
2 16 30 13 27 10 24
AUG
SEP

8 22

5 19

3 17 31

25 11
14 28 1
JAN
FEB
MAR

1111111
15 29 12 26

0 23

LATEST DATA PLOTTED WEEK ENDING: AUGUST 19, 1985
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
440 r----------- ,---------- ,------

BILLIONS OF DOLLARS

-------- ----- =1

BILLIONS
421.2

424.2
~ AUG

430.5

2 16 30 13 27 10 24 8 22
JUL
AUG
SEP
OCT
1984

5 10
NOV

3 17 31 14 28 II 25 II 25 8 22
DEC
JAN
FEB
MAR
APR

1
MAY
1985

15 20 12 26 0 23
JUL
AUG
SEP

LATEST DATA PLOTTED WEEK ENDING: AUGUST 19, 1985
DEPOSITORY^NSTITUT?ONS** IS THE SUM ^ DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOS ITS
COMPOUNDED ANNUAL RATES OF CHANGE ,
8/20/84

11/19/84

6.5
7. 1
8.2
8.0
8.0
9.8
10.3
10.9

12.8
13.4
11 .8
11.2
13.4
13.7
14. 1

1/21/85

AVERAGE OF FOUR WEEKS ENDING:

2/18/85

3/18/85

4/22/85

10.4
9.6
13.9
14.2
14.8

7.2
13.5
14.0
14.7

18.0
17.0
17.2

5/20/85

6/17/85

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/21/85
2/18/85
3/18/85
4/22/85
5/20/85
6/17/85
7/22/85
8/19/85


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Federal Reserve Bank of St. Louis

12.9
10.4
9.8
13.2
13.7
14.2

21.2
20.2

16.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

440

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT
15.0

CORPORATE
Aaa BONDS

12.0

PRIME BANK
LOAN RATE
IN ICI PAL
BONDS

10.0

90 DAY
CD'S

I

SEP

OCT

DEC

JAN

15 29 12 28 10 24

FEB

7 21

JUN

JUL

1985
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* AUGUST 30.

1985
JULY

AUG.

SEP.

5
12
19
26
2
9
16
23
30 *
6
13
20
27

90 DAY
CD’S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS’
ACCEPTANCES

7.52
7.51
7.62
7.76
7.83
7.83
7.82
7.78
7.79

7.50
7.48
7.54
7.71
7.75
7.75
7.74
7.67
7.72

7.37
7.42
7.55
7.73
7.74
7.73
7.70
7.66
7.68

CORPORATE
Aaa BONDS
10.91
10.85
10.87
11.07
11.21
11.20
11.08
10.95
10.93

CORPORATE
BAA BONDS
12.46
12.38
12.35
12.45
12.58
12.59
12.54
12.44
12.39

1985.

MUNICIPAL
BONDS *X
8.82
8.81
8.73
8.87
9.01
9.02
9. 12
9. 18
N. A.

NOTE*
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.15 RELEASE.
* AVERAGES OF RATES AVAILABLE
** 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

PERCENT

5-YEAR
TREASURY SECUFRITIES

“FUND!>S RATE

6 20

3 17 31

14 28 12 26

SEP
OCT
1984

9 23

7 21

4

DEC

JAN

18

1

15

1

15 29 12 26 10 24

FEB

7 21

5 19

JUN

JUL

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

1985
JULY

5
12
19
26
AUG.
2
9
16
23
30 X
SEP.
6
13
20
27

FEDERAL
FUNDS**

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL X6I6K

1-YEAR
TREASURY
BILL

8.06
8.07
7.77
7.88
7.64
7.92
7.88
8.06
7.78

6.90
6.99
7.07
7.22
7.28
7.21
7.13
7.07
7.06

7.08
7.00
7.20
7.35
7.40
7.52
7.36
7.28
7.21

7.13
7.19
7.29
7.47
7.57
7.58
7.49
7.39
7.40

*WAUCTT0NY*VER5GiE?DISC0UOTK) ENDIN° ™° MYS EARLIER THAN


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Federal Reserve Bank of St. Louis

2 16 30 13 27

30. 1985.

5-YEAR
TREASURY
SECURITIES
9.53
9.50
9.64
9.91
10.01
9.98
9.84
9.67
9.68

SHOWN

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

LONG-TERM
TREASURY
SECURITIES
10.47
10.46
10.55
10.80
10.90
10.85
10.76
10.59
10.56

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

JUL.

-----AUG

1

BJLLL±£ NS

15
22
29
5
12
19

1

IMS.

_

388.7
388.4
388.0
385.5
384.4
384.2

1

"

BILLIONS OF DOLLARS
410
1

BILLIONS OF DOLLARS
410 —-------- 1---------- 1----------

SMALL TIME

-

JEPOSI TS

M il

-

7*

=/

!llll

-

in.

ILL 1111

1 1 1

11 ii

1 1 1

LATEST DATA PLOTTED WEEK ENDING: AUGUST 19,

111.

I.LL 1 1 1 1

1 1 1 -LLL 1 1 1 1 -LI L

1111s

1985
BILLIONS OF DOLLARS
------ ------------------------ 280

BILLIONS OF DOLLARS
280 ------------- 1---------- 1-----

BILLIONS
JUL.

15

266.8
266.0
265.2
267.
267.8

2 16 30 13 27 10 24

LARGE TIME DEPOSITS

6 22

5 19

3 17 31

14 28 11

JAN

FEB

25 11

25

8 22

S 20

3 17

1

15 28 12 26

0 23

MAR

LATEST DATA PLOTTED WEEK ENDING: AUGUST 19. 1985
1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN $100,000
2/ 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

COMMERCIAL BANK
TOTAL TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
790 ------------- 1---------- 1------

BILLIONS OF DOLLARS
------------------------------- 790

BULLIONS

AUG.

777.9
778.5
777.2
774.7
775.8
776.2

2 16 30 13 27 10 24 8 22
JUL
AUG
SEP
OCT
1984

5 10
NOV

3 17 31 14 28 11 25 11 25 8 22
DEC
JAN
FEB
MAR
APR

6 20 3 17
MAY
JUN
1985

JUL

AUG

SEP

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 19, 1985
TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.

TOTAL TIME DEPOS1TS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
8/20/84

11/19/84

3.3
1.7
2.2
3.6
4.0
3.3
2.6
2. 1

-2.9
-0.9
1.9
2.8
2.0
1.1
0.6

1/21/85

2/18/85

3/18/85

9.3
8.7
5.9
3.6
2.4

10.0
5.8
3.1
1.8

4/22/85

5/20/85

6/17/85

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
1/21/85
2/18/85
3/18/85
4/22/85
5/20/85
6/17/85
7/22/85
8/19/85


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Federal Reserve Bank of St. Louis

-0.7
4. 1
4.8
3.3
1 .9
1. 1

2.1
-0.2
-1.0

-3.4
-3.5

-3.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
BILLIONS OF DOLLARS
10.0 ---------- ------------- r—

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
------ 1---------- 1---------- 10.0

1M

MILLIONS.

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 28, 1985
BILLIONS OF DOLLARS
---------,---------- i---------- 2.0

BILLIONS OF DOLLARS
2.0

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

IS85.
ADJUSTMENT + SEASONAL BORROWINGS

JUL

AUG

20 12 26 10 24

7 21

5 IS

SEP
OCT
1984

NOV

DEC

2 16 SO 13 27

JAN

FEB

IS 27

MAR

10 24

APR

6 22

MAY
1985

MILLIONS.

JUL.

24

5 18

3 17 31

JUN

JUL

14 28 II

AUG

25

SEP

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 28, 1985


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

I

MMDAS, MMMFS AND SUPER NOWS
(BILLIONS OF DOLLARS, NOT SEASONALLY ADJUSTED)

August

$246.4
243.4
239.4
241.7
241.7
239.0
238.3
239.5
238.8

$308.0
309.3
311.2
312.7
313.3
314.3
315.7
316.8
317.8

24
1
8
15
22
29
5
12
19

June
July

Super NOWs 3/

MMMFs 2/

MMDAs 1/

$56.1
56.6
58.4
57.9
57.5
57.0
58.8
59.0
58.8

,

1/ Money market deposit accounts at commercial banks
2/ Total money market mutual fund balances
3/ NOW accounts at all depository institutions, requiring a $1,000 minimum balance
and eligible to earn more than 5.25 percent, effective 1/5/85

BUSINESS LOANS u

( COMMERCIAL AND INDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS
BILLIONS OF DOLLARS

2/

SEASONALLY ADJUSTED BY THIS BANK

- COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF

— JUN.
MAY
“ APR.
MAR.
“ FEB.
_ NOV.
AUG.

12,
15,
17,
13,
13,
14,
15,

1985
1985
1985
1985
1985
1984
1984

-3.0
-1.9

MILLIONS
JUL. 10

253,132

AUG.

253,129
252,755

253,909

4 18

1

15 29 12 26 10 24

7 21
NOV

5 19
DEC

2 18 30 13 27 13 27 10 24
FEB
MAR
APR

8 22

7

1.1.1. I 11 1,1 I I I II I
5 19

3 17 31

14 28 11 25
AUG
SEP

LATEST DATA PLOTTED WEEK ENDINGt AUGUST 14, 1985
1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11