Full text of U.S. Financial Data : December 2, 1983

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U. S. Financial Data
Federal Reserve Bank of St. Louis
LI

December 2,1983

RARY

DEI; 6

1983

During periods of strong business loan demand, such as the
period from November 1981 to October 1982, banks seek additional
loanable funds by expanding their large time deposits. Conversely, when
business loan demand slackens, as in the eight months beginning October
1982, large time deposit growth slows, and banks shift their portfolios
toward other assets such as government securities.
This relationship has been affected during the last year by the
growth of money market deposit accounts (MMDAs). From October 1982
through May 1983, the sharp decline in large time deposits reflects both
the decline in business loan demand and, since December, a shift of funds
from these deposits into the new MMDAs. Since May, business loan
growth at all commercial banks has recovered, primarily reflecting loan
growth at banks other than large weekly reporters (business loans at
these banks show little change—see page 11). The decline of large time
deposits over this recent period has slowed due to the rise in business
loan growth and the slowing of MMDA growth. Large time deposits have
not risen, however, as might be expected given the increase in business
loan demand. This probably is due to the growth of other time deposits
over this period, another source of loanable funds.
—Mack Ott

Growth Patterns of Large Time Deposits
and Business Loans!/

Period
11/81 -10/82
10/82 - 5/83
5/83 -10/83

Large time
deposits 2/

12.1%
-28.3
-2.4

Business
loans
14.1%
0.8
7.1

-

1/ All commercial banks.
2/ Denominations of $100,000 or more.

Views
expressed do not necessarily reflect official positions of this Bank or 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

BILLIONS OF DOLLARS

202 --------,-------- 1------

iaaa
OCT.
NOV.

b.i.lli.qms

26
‘

198.2
199. I
199.4
199.2
199.5

I

NOV
1982

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

13

29

DEC

12

26

JAN

9 23

FEB

9 23

MAR

6

20

APR

4

18

MAY

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 30,

JUN
JUL
1963

AUG

SEP

OCT

NOV

DEC

1983

THE ADJUSTED MONETARY BASE CONSISTS OF: ( 1 ) RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT
FEDERAL RESERVE BANKS. (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE
VAULTS OF ALL DEPOSITORY INSTITUTIONS). AND (3) 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 AVAIL­
ABLE FROM THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE
12/1/82

3/2/83

4/27/83

6/1/83

AVERAGE OF FOUR WEEKS ENDING:

6/29/83

7/27/83

8/31/83

9/28/83

4.2
4.6
5.4
5.7

5.4
6.2
6.3

6.7
6.7

7.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/27/83
6/ 1/83
6/29/83
7/27/83
8/31/83
9/28/83
11/ 2/83
11/30/83

12.5
12.2
12.0
10.8
10. 1
9.7
9.5
9.3


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Federal Reserve Bank of St. Louis

11.1
10.9
9.3
8.6
8. 1
8. 1
7.9

10.7
8.2
7.4
7. 1
7.2
7. 1

6.6
6. 1
6.0
6.4
6.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

202

ADJUSTED RESERVES
AVERAGES OF DAILY FIGURES
5tA5UNALLY ADJUSTED

ILL IONS OF DOLLARS

BILLIONS OF DOLLARS

BILLIONS

53.5
54.0

10 24

JAN

FEB

7 21

S 10

SEP

OCT

2

IB 30 14

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 23, 1983
BANkFpLUs'cURRENCY*^ iTHEfftSimSB CURRENCYHELD' ^T^NOnIank

ADJUSTED RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
M/24/82
2/23/83 4/20/83 5/25/83 6/22/83 7/20/83 8/24/83 9/21/83
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/20/83
5/25/83
6/22/83
7/20/83
8/24/83
9/21/83
10/26/83
11/23/83

15.9
13. 1
14.2
12. 1
10.4
9.2
8.0
6.9


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Federal Reserve Bank of St. Louis

12.0
14. 1
10.8
8.6
7. 1
5.8
4.6

10. 1
6. 1
4.4
3. 1
2.2
1.3

8.8
5.3
3.5
2.2

1.1

“I . 1
-1.5
-1.6
-2.2

-1.1
-1.4
-2.1

-2.1
-2.9

-3.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY STOCK ( Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
530 rz--------1---------- 1--------

BILLIONS OF DOLLARS
------------------- -------- Z2 530

ILL IONS
OCT.

517.5
518.2
515.6
518.2
517.7
519.3

19

Mil

I I I I
0 20

OCT

3 17

I

15 29 12 20

JAN

NOV

0 23

9 23

FEB

0 20

4 18

APR

MAY

I

15 29 13 27 10 24

7 21

5 10

SEP

OCT

2

IS 30 14

1983
LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 23, 1983
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.B RELEASE.
MTuSl^eMnW K&1 BYF>FORE?Sf^NKSLAMMJFFKJAL flSffftflCNSI
othercheckabue deposits of all depository

INSTITUTIONS PLUS TRAVELERS'

checks.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE.

AVERAGE OF FOUR WEEKS ENDING:

1/24/82

2/23/83

4/20/83

5/25/83

6/22/83

7/20/83

8/24/83

9/21/83

12.8
14.4
14.4
13.2
12.5
11.1
10.3
9.4

13.6
13.9
12. 1
1 1 .2
9.4
8.6
7.5

18.4
14.0
12. 1
9.5
8.5
7.2

9.6
8.8
6.2
5.7
4.6

6.3
3.7
3.8
2.9

3.3
3.6
2.5

1.5
0.6

1 .7

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
4/20/83
5/25/83
6/22/83
7/20/83
8/24/83
9/21/83
10/26/83
11/23/83


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
1983
OCT.
NOV.

RATIO

19
2

2-614
2:60?

Ml MULTIPLIER

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 23,

BILLIONS OF DOLLARS
148
1
1
146
144

BILLIONS OF DOLLARS
148

1

COMPOUNDED ANNUAL RiKTES
— OF CHANGE, AVERAGE
THE FOUR WEEKS END 1
~ NOVEMBER 23, 1983 F TOM
— THE FOUR WEfeKS END 1 MG-.
-

142

1983

SEP.
AUG.
—JUL.
_
JUN.
MAY

140
_

NO V!

21,
24,
20.
22,
25,
24 |

1983
1983
1983
1983
1983
1982

10.1
10..
9..
8.
8.

-

MB
-

144
-

142

CURRE NCY

-

140

10.
-

-

-

-

-

134

134

13SiBILLIONS
-

OCT .

132

NOV .

130
sm

111

11 ii

111

DEC

JAN

6 20

OCT

NOV
1982

111
1111
0 23 0 23
MAR
FEB

111 jj i
6 20 4 IS

APR

1111

MAY

I

111

IS 20 13 27

JUN

JUL
1983

1111

19
26
2
9
16
23

_lllJ1 i i i

10 24

7 21

S 10

AUG

SEP

OCT

144.1
144.5
144.7
145.1
145.1
145.6

—
“
__

1i i i i 1 i i i1
2

16 SO 14 28

NOV

DEC

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 23, 1983
1/ RATIO OF MOMEY 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

132

ISO
0

6
YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

percent

15.0

13.0

13.0

CORPORATE
Aaa BONDS

11.0
PRIME BANK
LOAN RATE

MUNICIPAL
BONDS

10.0

9.0

90 DAY

I I I I
1

15 29

12

26

10 24

5

7 21

JAN

FEB

MAR

29

13 27

MAY

10 24

8 22

5

19

2

16 30

14

OCT

JUN

28

II

25

1 1 11
9

23

NOV

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. DECEMBER 2, 1983

1983
OCT.

NOV.

DEC.

7
14
21
28
4
1 1
18
25
2 X
9
16
23
30

90 DAY
CD’S

30-DAY
COMMERC1AL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa bonds

CORPORATE
BAA BONDS

MUNICIPAL
BONDS WK

9. 13
9.22
9.13
9.25
9.29
9.41
9.41
9.34
9.32

9.01
9.09
8.98
9.04
9.06
9. 16
9. 14
9.06
9.04

9.02
9.13
9.00
9. 1 1
9.13
9.22
9.25
9. 19
9. 19

12.20
12.22
12.21
12.34
12.42
12.47
12.42
12.36
12.36

13.44
13.42
13.42
13.52
13.58
13.63
13.64
13.59
13.62

9.49
9.67
9.68
9.81
9.79
9.75
9.70
9.74
N. A.

X AVERAGES OF RATES AVAILABLE.
XX 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 ENDED FRIDAY

PERCENT
14.0 r-

PERCENT

5-YEAR
TREASURY SECURITIES

FEDERAL
FUNDS RATE

DISCOUNT
RATE
3-MONTH
TREASURY B

1

15 28 12

OCT

NOV
1982

10 24

7 21

4 18

4

DEC

JAN

FEB

MAR

18

I

15 20 13 27

APR

MAY

10 24

JUN

8 22

JUL
1983

5 10

AUG

2

IS 30 14 28 II

SEP

OCT

25

NOV

0 23

DEC

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: DECEMBER 2, 1983

1983
OCT.

7
14
21
28
NOV.
4
1 1
18
25
DEC.
2 *
9
16
23
30

FEDERAL
FUNDS MK

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL MW

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

10.00
9.46
9.36
9.36
9.40
9.36
9.42
9.26
9.27

8.62
8.79
8.53
8.66
8.58
8.77
8.81
8.79
8.87

8.92
8.97
8.79
8,91
8.68
9.02
8.91
8.96
9.05

8.93
9. 10
8.89
9.02
9.05
9.09
9.08
9.07
9. 13

11.15
11.36
11.20
11.39
11.42
11.50
11.42
11.35
11.36

11.37
11.62
11.50
11.69
11.74
11.79
11.69
11.59
11.59

* AVERAGES OF RATES AVAILABLE.
** siyiN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
&£R?£I„2AJ*t£PPEAR ,N THE B0ARD ^ GOVERNORS1 H.15 RELEASE.
MW NEW ISSUE RATE
cwuted by the feoebal reserve BANK OF ST. LOUIS.

Mrwsfflfcssrm*"


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
TOTAL CHECKABLE DEPOSITS^
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

iSfii
OCT.

BILLIONS OF DOLLARS
3S0

BILLIONS

19

375

368.6
368.9
368.3

370

36S

360

355

350

345

340

335

330

0 20

3

OCT

NOV
1982

17

1

13 29 12 26

JAN

9 23

9 23

6 20

4 18

I

7 21

9 19

SEP

OCT

19 29 13 27 10 24

FEB

2 16 30 M 21

1983

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 23, 1983
1/ DEMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITORY INSTITUTIONS

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING:

11/24/82

2/23/83

4/20/83

5/25/83

6/22/83

7/20/83

8/24/83

9/21/83

13.4
15.6
15.7
14.4
13.5
11.5
10.5
9. 1

14.0
14.5
12.7
11 .7
9. 1
8. 1
6.6

21 .0
15.9
13.6
9.7
8.2
6.3

10.5
9.5
5.5
4.7
3.0

6.6
2.4
2.3
0.8

1.3
1.5
-0.2

-1.9
-3.1

-1 .6

TO THE AVERAGE
OF FOUR WEEKS
ENDING;
4/20/83
5/25/83
6/22/83
7/20/83
8/24/83
9/21/83
10/26/83
11Z23/83


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL TIME DEPOSITS!/
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
840

BILLIONS OF DOLLARS

=r

lSfii
OCT.

OCT

NOV
1982

JAN

FEB

APR

19

BILLIONS
703.3
705.5
707.7
713.4
71 1.0
711.3

MAY

LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 23.

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/
October
November

12
19
26
2
9
16
23

MMMFs 2/

$368.6
366.6
366.1
366.4
368.3
369.1
369.5

$177.3
177.6
178.4
178.7
179.8
179.7
179.1

SUPER NOWs 3/
$35.9
35.8
35.4
35.9
36.8
36.8
36.4

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


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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

iSfii

=-

BILLIONS OF DOLLARS
460
=
450
=
440
E
430
1
420
E
410
1
400
E
390

BILLIONS

440
430
420
410

E— NOV. 22
9
23
E

347:;
348.1
350.

1

400
390
380
370
360
350
340
330
320
310
300

0

1

380

i

370

V

=

360

\

E

SMALL TIME 1 MEPOSI TS

|

350

i

340
330

E

320

=

310

E
“111

300

XII XI 1 1

11.1.

1111 XI LI

in

Mil

111

1

1

1

1 1 1 1 -III

III XLLL XLL

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 23, 1983

BILLIONS OF DOLLARS

1983
OCT.
NOV.

19
26
2

0

BILLIONS OF DOLLARS
190

BILLIONS
135.7
135.2
35.4
135.2
135.1

175
170
165
160
155
SAVINGS DEPOSITS
150
145
140
135
130

6 20

3 17

OCT

NOV

MS 29 12 26

JAN

0 23

FEB

0 23

6 20

4 18

APR

MAY

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 23,

I

15 29 IS 27

10 24

0

7 2|

SEP

OCT

1983

1/ COMMERCIAL BANK TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN $100,000.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
4.5 r—--------,---------- ,-------1983

OCT. 26
NOV.
2
9
16
23
30

0 20
OCT

BILLIONS OF DOLLARS
------------------- -------- =1 4-5

MILLIONS

3 17
NOV

568
445
1043
1024
815
880

IS 29 12 26 9 23
JAN
FEB

9 23

6 20
APR

4 18
MAY

I IS 29 13 27 10 24
SEP

5 19
OCT

2 16 30 14 28

1983
LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 30.

1983

BUSINESS LOANS u
( COMMERCIAL AND INDUSTR IAL )

WEEKLY REPORTiNG LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
236
l

BILLIONS OF DOLLARS
236

1

i—11

0.8
-1.0
1.0
0.5
1.7

- NOV ! 24*

1982

o.'o

1

IN I

1983
1983
1983
1983
1983

rrrr

21,
24,
20,
22,
25,

n il

SEP.
AUG.
JUL.
JUN.
MAY

/■"

2
-

198.

n il
•T
111
OCT

111
NOV
1982

1111
DEC

111

111

12 26
JAN
FEB

1111

111

MAR

APR

111
4 18
MAY

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 23.

1111

in

l.
1 1 1

A

216

I-LJ

1

“
—
“
”
-

1

_ COMPOUNDED ANNUAL RA TES
_ OF CHANGE, AVERAGE 0 FG
_
THE FOUR WEEKS END IN
_ NOVEMBER 23. 1983 FR OM
_ THE FOUR WEEKS END ING:

Ml LUON5 “

OCT. 19
26
NOV. 2

215,020
214,576

~

215,098

_

16
23

215,667
215,427

_
-

i ii i -ii i i.i .......................;

1 15 29 13 27 10 24
JUN
JUL
AUG
1983

7 21
SEP

2 16 SO 14 28
NOV
DEC

1983

1/ BUSINESS LOANS INCLUDE BANKERS* ACCEPTANCES AM) COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS OF 8750 MILLION OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

12
LARGE TIME DEPOSITS
ALL COMMERCIAL BANKS
BILLIONS

of

DOLLARS

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

billions of dollars

19

226.6

P.O. Box 442

OCT.

St. Louis, Missouri 63166

OCT

NOV

IS 29 12 26 9 25
JAN FEB

9 23

B 20

4 19

LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 23,

INI
I IS 29 19 27 10 24

7 21
SEP

OCT

1083

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF 9100,000 OR MORE.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BA** OF ST. LOUIS