Full text of U.S. Financial Data : December 17, 1992
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December 17, 1992 vo Bank [>EC 2 1 982 U.S. Fkncia Data THE WEEK'S HIGHLIGHTS: ✓ Privately owned housing starts rose from a seasonally adjusted annual rate of1,224,000 units in October to 1,242,000 units in November. For the first 11 months of 1992, 18 percent more units were started than were during the same period in 1991. y/ Industrial production rose at a 4.5 percent annual rate in November. This was the second consecutive monthly gain, which more than offsets the declines of late summer. An increase in information processing equipment and nondurable materials accountedfor much of the November increase. The merchandise trade deficit for October fell to $7 billion from $8.6 billion in September. The deficit totals $67.8 billion so far thisyearr upfircrrrrS55.1 billion for the same period in 1991. Because of the Christmas holiday, the next issue of U.S. Financial Data will not be published until December 31, 1992. 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: One year (50 issues) Two years (100 issues) $18 $30 To subscribe, please send your check or money order made payable to the Federal Reserve Bank of St. Louis to: Research and Public Information, Federal Reserve Bank of St. Louis, Post Office Box 66953, St. Louis, MO 63166-6953. DO NOT SEND CASH. Checks from foreign subscribers must be payable in U.S. dollars and, except for those from Canada, must be drawn on a U.S. bank. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 Adjusted Monetary Base Averages or Daily t-igures Seasonally Adjusted Billions of Dollars 1222 Billions of Dollars Billions Sep 30 — Oct 14 28 Nov 11 25 Dec 9 377.3 380.2 381.3 383.2 385.0 382.4 25 8 22 5 19 4 18 1 IS 28 13 27 10 24 I 22 S 1) 2 If 30 14 28 Oct Nov Dec Jan Feb Mar Apr May Jun 1991 Jul Aug Sep Oct Nov Dec 1992 Latest data plotted reserve maintenance period ending: December 9, 1992 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 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, average of two maintenance periods ending: To the overage of 12/11/91 two maintenance periods ending: 5/13/92 6/10/92 7/8/92 8/5/92 9/2/92 10/14/92 11/11/92 12/9/92 9.6 9.1 7.8 8.7 9.4 10.5 10.7 10.2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 3/4/92 6.3 4.8 6.7 8.0 9.8 10.1 9.6 5/13/92 3.1 7.1 9.2 11.5 11.7 10.7 6/10/92 7.4 10.0 12.6 12.6 11.4 7/8/92 15.6 16.5 15.7 13.6 8/5/92 9/2/92 10/14/92 16.9 15.7 13.2 Prepared by Federal Reserve Bank of St Louis Money Stock (Ml) and Total Checkable Deposits Averages ot Daily Figures Seasonally Adjusted Billions of Dollars 1025 - 1992 Billions Nov 2 9 16 23 30 Dec 7 1017.0 1019.0 1023.2 1014.5 1020.1 1022.5 Billions of Dollars -TCD (right scale) M1 (left scale) TCD 7 21 4 18 2 16 30 13 27 10 24 9 23 6 20 4 18 1 15 29 13 27 10 24 7 21 Nov Feb Dec Mar Apr May Jun Jul 1992 Aug 1992 Billions— gjQ Nov 2 9 16 23 30 Dec 7 719.6 720.9 724.5 cnn 715.8 — 590 720.9 722.9 19 2 If 30 14 28 Sep Nov Dec Latest data plotted week ending: December 7, 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 12/9/91 3/9/92 5/4/92 6/8/92 7/6/92 8/10/92 9/7/92 10/5/92 ending: 5/4/92 6/8/92 7/6/92 8/10/92 9/7/92 10/5/92 11/9/92 12/7/92 14.5 13.9 11.5 12.0 12.5 13.3 14.4 14.1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8.5 5.7 7.7 9.1 10.7 12.5 12.3 4.9 8.3 10.2 12.3 14.3 13.8 6.5 9.7 12.4 15.0 14.2 15.8 17.7 19.4 17.6 19.5 21.2 18.5 23.0 18.9 17.6 Prepared by Federal Reserve Bank of St. Louis 3 4 Adjusted Reserves Billions of Dollars Seasonally Adjusted Billions of Dollars 96 !f Sep 30 Oct 14 28 Nov 11 25 Dec 9 90.8 92.1 92.6 M 94.8 92 90 SS 16 64 62 60 ! 14 ]| 11 27 II 25 1 22 S 19 4 11 I Oct Nov Dec Jan Feb Mar 1991 15 2! 1} 27 10 24 2 22 5 19 Apr May Jun Jul Aug 1992 2 IS JO 14 21 II 25 Sep Oct Nov 9 21 Dec Latest data plotted two weeks ending: December 9, 1992 Adjusted reserves is the difference between adjusted monetary base and currency component of M1. Adjusted Reserves _ , , Compounded annual rates of change, average of two maintenance periods ending: To the average of 12/n/gi 3/4/92 5/13/92 6/10/92 7/8/92 8/5/92 9/2/92 10/14/92 two maintenance periods ending: 5/13/92 6/10/92 7/8/92 8/5/92 9/2/92 10/14/92 11/11/92 12/9/92 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 17.9 16.8 11.5 12.0 12.2 14.2 15.4 13.9 10.3 3.4 5.6 6.8 10.4 12.5 10.9 -4.4 2.0 4.9 10.5 13.4 11.1 -2.2 3.0 10.5 13.9 11.2 15.1 20.1 22.4 17.4 21.8 24.2 17.7 28.5 18.7 12.7 Prepared by Federal Reserve Bank of St Louis 28 • • Money Multiplier1/ seasonally Adjusted Compounded annual rates of change, average of the four weeks ending December 7, 1992 from the four weeks ending: Dec 9, 1991 3.4 Mar 2. 1992 2.7 Jun 8, 1992 2.6 Jul 6. 1992 3.5 Aug 3, 1992 4.2 Aug 31, 1992 5.5 Oct 12, 1992 7.4 7 21 Oct 1992 Ratio Sep 28 Oct 12 2.627 2.640 2.642 2.657 2.647 2.671 Nov 9 Dec 7 4 18 2 IS 30 13 27 10 24 9 23 6 20 4 18 I 15 29 13 27 10 24 7 21 5 19 2 IS 30 14 28 Nov Mar Sep Dec Jan Feb Apr May Jun 1991 Latest data plotted two weeks ending: December 7, 1992 Jul Aug Oct Nov Dec 1992 Currency Component of M1z/ Billions of Dollars Billions of Dollars Seasonally Adjusted Compounded annual rates of change, average of the four weeks ending December 7, 1992 from the four weeks ending: Dec 9, 1991 9.1 Mar 9, 1992 9.3 Jun 8, 1992 11.3 Jul 6, 1992 12.5 Aug 10, 1992 11.3 Sep 7, 1992 9.9 Oct 5, 1992 8.1 1992 Billions Nov 2 288.7 289.5 290.1 290.2 290.6 291.0 Dec 7 7 21 4 18 2 IS 30 13 27 Nov 1991 Dec 24 9 23 6 20 4 18 Feb Mar Apr May 15 29 13 27 10 24 7 21 Jun Jul 1992 Aug Sep 2 IS 30 14 28 Nov Dec Latest data plotted week ending: December 7, 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 Prepared by Federal Reserve Bank of St. Louis 5 6 Yields on Selected Securities Percent Percent Averages of Daily Figures Prime Bank ■loan Rate- 4 18 I 15 2! 13 27 10 24 7 21 6 20 3 17 1 15 29 12 26 10 24 7 21 4 18 2 16 30 Nov Dec Feb Mar Apr May Jun Jul Aug Sep Oct Latest data plotted are averages of rates available for the week ending: December 18, 1992 1992 Sep 25 Oct 2 9 16 23 30 Nov 6 13 20 27 Dec 4 11 18 *** 90—Day CDs 30—Day Commercial Paper 90-Day Bankers’ Acceptances Corporate Aaa Bonds Corporate Baa Bonds Municipal 3.15 3.10 3.09 3.25 3.38 3.39 3.42 3.52 3.68 3.67 3.73 3.54 3.48 3.27 3.26 3.15 3.23 3.27 3.26 3.25 3.28 3.25 3.22 3.70 3.80 3.79 3.12 3.04 3.05 3.18 3.31 3.32 3.35 3.47 3.60 3.60 3.65 3.48 3.45 7.96 7.93 7.92 7.96 8.04 8.07 8.11 8.14 8.07 8.06 8.06 8.00 8.00 8.69 8.64 8.72 8.84 8.93 8.96 9.02 9.00 8.91 8.91 8.92 8.82 8.83 6.33 6.27 6.29 6.34 6.53 6.62 6.51 6.38 6.28 6.26 6.28 6.22 NA Current data appear in the Federal Reserve Board's H.15 release. * 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 Selected Interest Rates Percent Percent 9.0 9.0 / A.M 7.0 T" N. s V. ✓ Fed ^Fund 5.0 -> - T t / ’ ' Mi l ____ 9.0 > V' /' / N Is % ►ar ecuritie 1 ____ > V _ _ _ _ ^_ _ _ _ 6.0 ** 5 ------V i- ^ / 7.0 \ /•»» v-w /" ✓ \ lh N Bill -< vY- s'" VV .-2 ✓ »vv 3.0 c (•count Rate 9 s > ** IJ 1 15 I! 15 27 10 29 7 II 6 20 3 17 1 15 2! 12 26 10 24 7 21 6 18 2 16 30 13 27 Oct Nov 1991 Dec Jan Feb Jun Jul Aug Sep Oct 1992 Latest data plotted are averages of rates available for the week ending: December 18, 1992 1992 Sep 25 Oct 2 9 16 23 30 Nov 6 13 20 27 Dec 4 11 18 * Federal Funds ** Mar Apr 3-Month Treasury Bill May 6-Month Treasury Bill *** 3.07 3.41 3.20 3.20 3.05 2.96 3.07 2.91 2.97 3.10 3.37 2.94 2.93 1 -Year Treasury Bill 5—Year Treasury Securities Nov 11 25 Dec Long-Term Treasury Securities 2.89 2.93 3.04 5.46 7.11 2.69 2.85 2.91 5.26 7.02 2.76 2.78 2.97 5.35 7.12 2.90 2.95 3.12 5.52 7.21 2.95 3.10 3.35 5.83 7.35 2.94 3.22 3.36 5.85 7.37 3.03 3.27 3.42 5.96 7.44 3.08 3.31 3.47 6.00 7.41 3.16 3.37 3.56 6.05 7.36 3.24 3.45 3.60 6.12 7.38 3.30 3.46 3.64 6.20 7.41 3.24 3.37 3.55 6.04 7.27 3.23 3.43 3.63 6.11 7.29 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) Prepared by Federal Reserve Bank of St. Louis http://fraser.stlouisfed.org 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 Nov 2 9 16 23 30 Dec 7 3508.1 3514.4 3513.3. 3497.8 3503.2 3509.5 (left scale) Non-M1 M2 (right scale) Non-M1 M2 1992 Nov 2 9 16 23 30 Dec 7 7 21 Oct 4 18 2 IS 30 13 27 10 24 9 23 6 20 Nov Dec Jan Feb Mar Billions 2491.1' 2495.4 2490.1 2483.3 2483.1 2487.0 4 18 1 15 29 13 27 10 24 7 21 5 19 2 16 30 14 28 Apr May 1991 Jun Jul 1992 Aug Sep Oct Nov Dec Latest data plotted week ending: December 7, 1992 Current data appear in the Federal Reserve Board's H.6 release. M2 is the sum of M1, overnight RPs issued by all commercial banks, overnight Eurodollars issued to U.S. residents by foreign branches of U.S. banks, savings (including money market deposit 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) Compounded annual rates of change, average of four weeks ending: To the average 12/9/91 3/9/92 6/8/92 7/6/92 8/10/92 9/7/92 10/5/92 5/4/92 ending: 5/4/92 6/8/92 7/6/92 B/10/92 9/7/92 10/5/92 11/9/92 12/7/92 2.6 2.0 1.3 1.2 1.4 1.7 2.1 2.0 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -1.0 -1.5 -1.0 -0.3 0.2 1.0 1.0 -1.6 -0.8 0.1 0.8 1.8 1.6 -0.9 0.4 1.2 2.3 2.1 1.9 2.5 3.5 3.0 3.6 4.6 3.7 5.1 3.8 3.8 Prepared by Federal Reserve Bank of St. Louis Savings and Money Market Funds Averages of Daily Figures Seasonally Adjusted Billions of Dollars Billions of Dollars Savings 1992 Billions Nov 2 9 16 23 30 Dec 7 1176.0 1181.2. 1183.8 1181.4 1181.5 1185.6 Money Market (right scale' Savings Deposits (left scale) Money Market 1992 Billions Nov 2 9 16 23 30 Dec 7 7 21 Oct 351.6 350.0 — 348.5 346.7 348.9 348.7 4 IS 2 IS 30 13 27 10 24 § 23 S 20 4 II 1 15 29 13 27 10 24 7 21 5 19 2 IS 30 14 28 Nov Mar Sep Dec Jan Feb Apr May 1991 Jun Jul Aug Oct Nov Dec 1992 Note: Savings deposits are at all depository institutions. Money market funds are general purpose and broker/dealer. Large and Small Time Deposits1/ All Depository Institutions Averages of Daily Figures, Seasonally Adjusted Billions of Dollars 465 Billions of Dollars 1 Small 1992 Nov 2 9 16 Vs 435 Dec \ • 0 7 1 Time Billions 892.3 888.6 885.0 87< ).8 87' 7.3 1125 1060 V^s V 405 V . Small' Ime (ri jht see le) Lai ■ge Tim > (left i S < 345 9 16 23 30 Dec 7 905 N. !___ Lc rge Ti me 1£22 61 lions 375 s. 368.3 369.5 370.4 370.2 369.0 930 ■ 7 21 4 18 2 16 30 13 27 10 24 9 23 i 20 4 18 1 15 29 13 27 10 24 7 21 5 19 2 10 30 H 21 Oct Nov 1991 Dec Jan Feb Mar Apr May Jun Jul 1992 Aug Sep Oct Nov Dec Latest data plotted week ending: December 7, 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 9 865 10 Total Borrowings From Federal Reserve Banks Averages of Daily Figures Billions of Dollars 1992 Billions _ Nov 11 0.048 0.088 0.187 0.160 0.028 0.040 Dec 2 Billions of Dollars 2 16 30 13 27 11 25 I 22 5 1) 4 II 1 15 2) 13 27 10 24 8 22 5 19 2 16 30 14 28 11 25 9 23 Oct Nov 1991 Dec Jan Feb Mar Apr May Jun Jul 1992 Aug Sep Oct Nov Dec Adjustment + Seasonal Borrowings l-rom hederal Reserve Banks Averages of Daily Figures Billions of Dollars 1992 Billions Nov 11 18 0.048 0.088 9 16 0.028 0.038 Billions of Dollars 1992 Latest data plotted week ending: December 16, 1992 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Commercial Paper of Nortfinancial Companies Billions of Dollars 1992 Billions of Dollars Not Seasonally Adjusted —-----no Billions Nov 4 148.979 150.025 149.938 Dec 2 150.878 148.877 2 16 30 13 27 11 25 8 22 5 19 4 10 Oct Nov 1991 Dec Jan Feb Mar 1 15 29 13 27 Apr May 10 24 8 22 5 19 2 II 30 14 28 Jun Jul 1992 Aug Sep Oct 11 25 9 23 Nov Dec Latest data plotted week ending: December 9, 1992 Commercial and industrial Loans1 / Weekly Reporting Large Commercial Banks2/ Seasonally Adjusted Billions of Dollars Billions of Dollars Compounded annual rates of change, average of the four weeks ending December 2, 1992 from the four weeks ending: Dec 4, 1991 -5.0 Mar 4. 1992 -4.4 Jun 3, 1992 -3.5 Jul 1, 1992 -1.0 Aug 5, 1992 2.0 Sep 2, 1992 5.0 Sep 30, 1992 6.9 2 16 30 13 27 11 25 Oct Nov 1991 Dec 1992 Billions Oct 28 277.050__ Nov 4 278.546 11 278.310 18 279.081 25 281.089 Dec 2 279.985. 22 5 19 4 18 1 15 29 13 27 10 24 8 22 5 19 2 II 30 14 28 Jan Feb Mar Apr May Jun Jul 1992 Aug Sep Oct 25 9 23 Nov Dec Latest data plotted week ending: December 2, 1992 1/ Commercial and industrial loans include banker's acceptances and commercial paper. 2/ Banks with domestic assets greater than $1.4 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 1973=100 Averages of Daily Figures 1973=100 1992 1973=100 Dec 2 2 IB 30 13 27 II 25 Oct Nov Dec 22 5 It 4 II 1 15 2! 13 27 10 24 8 22 5 1! 2 10 30 14 28 Jan 1991 Feb Mar Apr May Jun Jul Aug Sep Oct 25 3 23 Nov Dec 1992 Latest data plotted week ending: December 16, 1992 Current data appear in the Federal Reserve Board's H.10 release. Data are weighted averages of the foreign-currency price of the U.S. dollar, computed using 10 industrial country currencies. Prepared by Federal Reserve Bank of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis
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