Full text of U.S. Financial Data : December 1, 1988

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C * <3^

LIBRARY

Fi ancial Data
December 1, 1988

DCC 0 5 19B6

THE WEEK'S HIGHE1GHTS:
is

Commercial banks increased their prime lending rate one-half point
on November 28 to 10.50 percent, the highest level since May 1985.
Since May 10, 1988, when it was 8.50 percent, the prime rate has
been raised four times, with the previous increase occurring August

11.
is

The yield on 90-day CDs averaged 9.25 percent for the week ending
December 2, up 216 basis points from early May.

is

The nation's real gross national product expanded at an annual rate
of 2.6 percent in the third quarter, up from the previous estimate
of 2.2 percent. Since the fourth quarter of 1987, real GNP has grown
at a 3 percent rate.

ts

Personal income increased 1.8 percent in October and was up 7.4
percent from a year earlier. Personal income data are not adjusted
for inflation.

THE
KKDKRAJ.
J REMKU
XllVNKol
nr st. mi is

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


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

1988
SEP.
OCT.
NOV.

21
5
19
2
16
30

BILLIONS OF DOLLARS
290

BILLIONS
283.4
282.1
283.2
283.5
285.1
286.1
282

278

270

266

T 21

4 18

OCT

NOV

2 18 90 19 27 10 24

JAN

8 29

FEB

6 20

4 18

APR

MAY

1

IS 28 19 27 10 24

LATEST PLOTTED RESERVE MAINTENANCE PERIOD END IMGt NOVEMBER 30,

7 21

8 19

SEP

OCT

2 18 90 14 28

1988

M-APJ,J|TEP-MONETARY_BASE 1S_THE SUM OF RESERVE ACCOUNTS
OF FINANCIAL
FIN
ACCOUNTS OF
INSTITUTIONS AT FEDERAL
HELD BY THE PUBLIC AND IN THE VAULTS OF ALL
SERVE REQUIREMENT RATIO CHANGES, THE MAJOR

RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING
2/2/87

2/24/88

7.6
6.1
7.0
7. 1
6.8
6.8
6.3
6.6

5,0
6.8
7.0
6.5
6.3
5.9
6.4

5/4/88

6/1/88

6/20/88

7/27/88

8/24/88

10/5/88

5.7
5.7
5.1
6.0

4.9
4.3
5.7

4.5
6.2

6.6

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING:
5/ 4/88
5/ 1/88
6/29/88
7/27/m
8/24/88
10/ 5/8®
11/ 2/88
11/30/88


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Federal Reserve Bank of St. Louis

5.5
6.3
5.6
5.6
5.2
5.9

10.6
8.3
7.4
6.5
7.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK ( Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
795
-

1968
OCT.
NOV.

5 10
OCT

17
24
31
7
14
21

BILLIONS OF DOLLARS
795

billions

783.7
700.9
784.5
781.7
779.6
785.1

2 16 30 14 20 11 23 8 22
NOV
DEC
JAN
FEB
1987

7 21
MAR

J J. 11
4 18
APR

J_LL

2 16 30 IS 27 11 25 6 22
MAY
JUN
JUL
AUG
1988

LATEST DATA PLOTTED WEEK ENDINGt NOVEMBER 21,
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS

3 .9
SEP

3 17 31 14 28 12 26 w
OCT
NOV
DEC

1988
H.6 RELEASE.

Ml IS THE SUM OF CURRENCY HELD BY THE NONBANK PUBLIC, DEMAND DEPOSITS, OTHER CHECKABLE
DEPOSITS AND TRAVELERS CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
11/23/87

2/22/88

4/18/88

5/23/88

6/20/88

7/18/88

8/22/88

4.9
5.0
6.3
5.5
4.9
4.2
3.7

5.9
7.7
6.2
5.3
4.2
3.6

8.6
6.2
5.0
3.8
3.1

6.6
4.9
3.A
2.7

1.9
1.1
0.7

0.3
0.1

9/19/88

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/18/88
5/23/88
0/20/88
7/18/88
8/22/88
9/19/88
10/24/88
11/21/88

4.1
4.5
4.6
5.5
5.1
4.7
4.2
3.8


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Federal Reserve Bank of St. Louis

-0.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIERS
CURRENCY COMPONENT OF MONEY STOCK s
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

1988
SEP.
OCT.
NOV.

5
10
3
17
31
M

RATIO
2.785
2.765
2.776
2.770
2.761
2.730
Ml MULTIPLIER

5 10

2 16 30 14 20 11 25

DEC

8 22

JAN

7 21

4 IS

MAR

APR

2 16 30 13 27

II

25

8 22

5 10

3 17 31

14 28 12 26

NOV

JUN
JUL
1988

1987

DEC

LATEST DATA PLOTTED TWO WEEKS ENDING-. NOVEMBER 14, 1088
BILLIONS OF DOLLARS
216

BILLIONS OF DOLLARS
216 :—i----------1—i—i------------

208

SEP. 19,
—AUG. 22,
_
JUL. 18,
JUN. 20,
“ MAY 23,
“ FEB. 22,
NO V. £0,

1988
1988
1988
1988
1988
1988
1967

6.(
6.
5.1

_

_
-

CURRE NCY

i

“

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
NOVEMBER 21. 1988 F *0M
THE FOUR WEfeKS END 1 4G-.

7A

i i

-

212

6.
7.

204

7.1

_
—
196

~

0C1 .
.

!lll 1111
NOV
1987

1, I.LL 1 1 1

in -LI 1

2 16 30 14 28 II

DEC

JAN

25

8 22

FEB

7 21

MAR

1 1 1 1

4 16

2 16 30 13 27 II

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 21,

MAY

1 1 1

1 1 1

1 1 1
APR

1111
25

JUN
JUL
1988

8 22

AUG

111
5 10

SEP

17
24
31
7
14
21

209.4
210.0
210.5
209.8
209.7
210.4

_

“
—
_

i i i i 1 i i i 1 i i i!
3 17 31

OCT

14 28 12 26

NOV

DEC

1988

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

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
'380 ---------- 1------------- .------

BILLIONS OF DOLLARS
------------------------------- 580

BILLIONS
566.9
563.6
566.5
564.7
562.4
567.1

mini
OCT

NOV
1987

DEC

JAN

FEB

MAR

APR

MAY

IS
JUM

JUL

9 17 91 M 28 12 26
NOV
DEC

LATEST DATA PLOTTED WEEK ENDING! NOVEMBER 21. 1988
DEPOSITORY*?^! I TUT°ONS? 18 THE SUU °F 0aWND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING:

11/23/87

2/22/88

4/18/88

5/23/88

S/20/88

2. 1
2.9
3.2
4.3
3.9
3.4
2.8
2.4

3.8
4. 1
5.7
4.9
4.1
3. 1
2.5

5.7
7.8
6. 1
4.7
3.3
2.5

8.9
6.1
4.3
2.6
1.8

6.4
4.0
2.1
1.2

7/18/88

8/22/88

0 4
-0.8
-j.2

-2 1
-2.2

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
4/18/88
5/23/88
6/20/88
7/18/88
8/22/88
8/19/88
10/24/88
11/21/88


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Federal Reserve Bank of St. Louis

9/10/88

-2.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

PERCENT

12.0

CORPORATE
Aaa BONDS

MUNICIPAL
BONDS

2 18 30 13 27 II 25
OCT

NOV
1987

DEC

ft 22
JAN

5 19

4 18

I IS 29 13 27 10 24

FEB

MAR

APR

MAY

8 22

JUN
JUL
1988

5 19
AUG

2 16 30 14 28 11 25
SEP

OCT

NOV

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* DECEMBER 2,

1988
OCT.

7
14
21
28
NOV.
4
11
18
25
DEC.
2 *
9
16
23
30

9 23
DEC

1988.

90 DAY
CD"S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS*
ACCEPTANCES

CORPORATE
Aaa BONOS

CORPORATE
Baa BONDS

MUNICIPAL
BONOS XX

8.31
8.33
8.38
8.41
8.43
8.55
8.80
9.00
9.25

8. 10
8.09
8.13
8. 16
8.22
8.31
8.42
8.46
8.56

8.12
8. 13
8. 15
8. 18
8. 18
8.34
8.59
8.78
8.94

9.58
9.54
9.49
9.44
9.39
9.38
9.45
9.52
9.58

10.45
10.41
10.41
10.39
10.33
10.40
10.49
10.58
10.62

7.53
7.52
7.45
7.36
7.33
7.44
7.50
7.58
N. A.

NOTE*
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE.
X 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

TREASURY SECURI TIES

\

A

DISCOUNT RATE

TREASUf

2 10 90 13 27 11 25
NOV
DEC
1987

6 22

5 19
FEB

4 16
MAR

1

IS 29 13 27 10 24 6 22
MAY
JUN
19B8

S 19

2 16 30 14 26 II 25
OCT
NOV

LATEST DATA PLOTTED ARE AVERAOES OF RATES AVAILABLE FOR THE WEEK ENDING; DECEMBER 2,

1988
OCT.

NOV.

DEC.

7
14
21
28
4
11
18
25
2 X
9
16
23
30

9 23

1988.

FEDERAL
FUNDS Kft

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL *XX

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECUR1T1ES

LONG-TERM
TREASURY
SECURITIES

8.38
8.27
8.27
8.29
8.36
8.31
8.26
8.33
8.44

7.25
7.31
7.40
7.42
7.38
7.57
7.91
8.01
7.93

7.46
7.46
7.55
7.54
7.48
7.71
7.87
7.99
8. 13

7.56
7.51
7.56
7.55
7.53
7.76
7.94
8.06
8.06

8.57
8.53
8.52
8.47
8.44
8.69
8.84
8.99
9.04

9.01
8.98
8.96
8.95
8.84
9.04
9. 14
9.20

NOTE;
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H 15 RELEASE EXCLUDING LOW—TFRU ’RFAGHRY
«
averaIs^Vate^avail^le^"™ Br TH “banIT^rEasurt BiLTYt^fi^ onTdiscounPbasis.
&mttv«fii9SiPf.nw, ending™°


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

days

«"■'«

than mte

«»•

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

MONEY STOCK ( M2 )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
3075 ---------- 1------------- 1—

BILLIONS OF DOLLARS
3075

BILLIONS

2975

2925

2900

S 19

2 10 SO 14 29 11

OCT

NOV
1987

DEC

25

JAN

9 22

FEB

7 21

4 18

MAR

APR

2

16 90 IS 27 11

MAY

25

JUN
JUL
1988

6 22

AUG

5 19

SEP

9 17 91

OCT

14 26 12 26

NOV

DEC

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 21, 1988
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE
M2 IS THE
Ml
™f SUM OF Ml,
OVERNIGHT RPS ISSUED BY ALL COMMERCIAL BANCS, OVERNIGHT EURODOLLARS
TO U.Sl+.5l3ARI^I?Tir
----- ----------BRANCHES OF U.S. BANCS, MONEY MARKET DEPOSIT ACCOUNTS, SAVIN
PURP0SE A*® BROKER/DEALER MONEY MARKET MUTUAL FUNbs. FO
SMALL TI«lcDTu2SuTI'Bcf?i^NERAL
1 __
DETAIL, SEE THEMi8'RELEASE

MONEY STOCK (M2)
COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING:

1/23/87

2/22/88

4/18/86

5/23/88

6/20/B8

7/18/88

8/22/88

9/19/88

7.7
7.2
7. 1
6.7
6.2
5.9
5.2
5.2

7.5
7.2
6.7
5.9
5.4
4.6
4.6

5.6
5.2
4.4
4. 1
3.3
3.5

5.3
4.3
3.9
2.9
3.3

3.3
3.1
2. 1
2.7

2.6
1.5
2.3

0.9
2.3

2.1

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
4/18/88
5/23/88
6/20/88
7/18/88
8/22/88
9/19/88
10/24/88
11/21/88


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ALL DEPOSITORY INSTITUTIONS
TOTAL TIME DEPOSITS^
LARGE TIME DEPOSITS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
2000 r---------1------------- 1—

BILLIONS OF DOLLARS

-------- ---- 2000

COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
the four Weeks ending
NOVEMBER 21. 1088 FROM
TOTAL TIME DEPOSITS
JUL.
JUN.
MAY

18,
20,
23,

1988
1
1988

Z— NOV. 23, 1987

10!3

10

IM
OCT.

B.1LLIQNS

17

1971.2
1973.4

I I I 1 I I I I I I M I I I I
LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 21, 1968
BILLIONS OF DOLLARS

=

lSSft

— OCT.

17

BILLIONS OF DOLLARS
540

BILLIONS
530.7
530.6
530.8
LARGE TIME DEPOSITS

S 19

2 IS 30 14 28 II 25

DEC

JAN

8 22

7 21

4 18

MAR

APR

2 16 30 IS 27 11

JUN

JUL

25

8 22

5 19

3 17 31

14 28 12

NOV

DEC

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 21, 1988
1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.
2/ 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

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
BILLIONS OF DOLLARS
4.5 r—--------1---------- 1--------

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

TOTAL BORROWINGS
16
25

3500
2757

LATEST DATA PLOTTED WEEK ENDINGt NOVEMBER 30,

1088
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

ADJUSTMENT + SEASONAL
BORROWINGS

7 21

4

OCT

NOV

18

2 16 SO 13 27 10 24

0 23

8 20

4 18

APR

MAY

I

18 20 13 27

10 24

7 21

5 10

SEP

OCT

2

16 30 14 28

LATEST DATA PLOTTED WEEK ENDINGt NOVEMBER 30. 1988


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
billions of dollars

MILLION SL
96,08.
97,251
96,3m
95,692
97,24(
97 64!

|

m
V
r~\

/

:

mil

V

A

1

\

f' \
______

m

i\-

—

/

r‘

A

95

—
i

i

- 1088
I OCT. 10
_
28
_ NOV. 2
_
9
_
16
23

NOT SEASONALLY ADJUSTED
—

mil

BILLIONS OF DOLLARS
105

N ,
i

slll
OCT

111
NOV
1087

.mi
DEC

111

111

mi

111

111 lJJlLL

JAN

FEB

MAR

APR

MAY

LUJ-

mm

JUN
JUL
1988

Ill

_LLL

7 2!

3 10

SEP

OCT

lML
18 90 14 20

Mill
2

NOV

DEC

LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 23, 1988
* DASHED LINE REPRESENTS DATA USING A NEW REPORTING PANEL AND IS NOT COMPARABLE TO PREVIOUS DATA.

BUSINESS LOANS u

( CGMMERCIAL

AND

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
305 ---------- r----------r-------

ILL IONS OF DOLLARS
------------- ----------- 305

~ COMPOUNDED ANNUAL RATES
- OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING

- SEP. 14,

1988

.
- JUN.
_ MAY
rto.
NOV.

»
I
1688
1088
iwow
1987

ig,
15,
18,
i# ,
18,

-0.2

OCT. 12
301,034
NOV.

2
300,292

7 21

4 18

OCT

NOV

2 18 SO 19 27 10 24

JAN

6 29

0 20

4 18

I

IS 20 19 27

10 24

FEB

LATEST DATA PLOTTED WEEK ENDING* NOVEMBER IS,

I 1 1 I II I M 1 » I I
7 21

S 10

SEP

OCT

2

10 90 14 28

1968

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

DOLLAR'S TRADE-WEIGHTED EXCHANGE INDEX
AVERAGES OF DAILY FIGURES

OCT.

26
93.4

OCT

NOV
1987

2 16 30 13 27 10 24
DEC
JAN FEB

9 23

6 20
APR

4 19
MAY

I 19 » 13 27 10 24

7 21
SEP

5 19
OCT

2 16 30 14 28

ENDINGt NOVEMBER 30, 1986
LATEST DATA PLOTTED
NOTE* CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR'S H.IO RELEASE.
DATA ARE WEIGHTED AVERAGES OF THE FOREIGN-CURRENCY PRICE OF THE U.S. DOLLAR, COMPUTED USING
10 INDUSTRIAL COUNTRY CURRENCIES.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BAM< OF ST. LOUIS