Full text of U.S. Financial Data : December 20, 1984

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

edera

esarve Bank
of Si. Louis

USTTmancial Data
DEC 2 6 1984

December 20,1984

Large time deposits (CDs) are an important source of
loanable funds for commercial banks. Consequently, changes in
interest rates on CDs and the growth of large time deposits
generally mirror movements in the prime rate and the growth of
business loans produced by relative changes in the demand for
business loans at commercial banks. The table on the back page
shows how changes on business loan demand have affected the
growth of business loans and large time deposits and their
respective interest rates since late last year.
From the end of October 1983 to the end of February 1984,
when the prime rate and the 90-day CD rate were virtually
unchanged, business loans and large time deposits both grew at
about a 9 percent annual rate. From the end of February to the
first of August, surging loan demand produced both rapid growth
in and substantially higher interest rates on large time deposits
and business loans. Since then, growth in loan demand has slowed
abruptly, resulting in sharply slower growth in business loans and
large time deposits and substantial declines in their respective
interest rates.
(continued on back page)


Views expressed do not necessarily
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

--Courtenay C. Stone

reflect official positions of the Federal Reserve system.

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
222 ---------- .------------- 1-----1984
NOV.

BILLIONS OF DOLLARS

BILLIONS
14

5 10

2

OCT

NOV
1983

216.7
214.9
216.2
217. I
218.7
215.8

IB SO 14

DEC

M

25

JAN

• 22

FEB

7 21

4 18

MAR

APR

2

LATEST DATA PLOTTED WEEK ENDINGt DECEMBER 19,

IB 30 IS 27

MAY

11

JUN
JUL
1984

• 22

AUG

B 10

SEP

S 17 31

OCT

14 28 12 26

NOV

DEC

1984

THE ADJUSTED MONETARY BASE CONSISTS OFt C 1 J RESERVE
otn*u pnra\a,
c i uunntin»«
FEDERAL RESERVE
BANKS. «(2)
CURRENCY in
IN v>i
Cl nuuLnT I ON (Cwnnu
VAULTS
DEP0SIT6r----------------------------Y INSTITUTIONS). AND
(3) AN ADJUSTI
OF ALL
'
------------*
VAULTS OF
CHANGES.
THE MAJOR SOURCE OF THE ADJUSTED MONETARY BASE
ARE COMPUTED BY THIS BANK.
A DETAILED DESCRIPTION OF THE
ABLE FROM THIS BANK.

FINANCIAL INSTITUTIONS AT
BY THE PUBLIC AND IN THE
TED MONETARY BASE IS AVAIL-

RECENT DATA ARE PRELIMINARY
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE

AVERAGE OF FOUR WEEKS ENDING:

12/21/83

3/21/84

5/18/84

8/20/84

7/18/84

6/22/84

10. 1
10.2
9.5
8.0
8.3
7.9
7.3
7.4

9.0
8.0
5.9
6.7
6.3
5.8
6.0

8.2
4.9
6.2
5.8
5.2
5.6

1.6
4.4
4.4
3.9
4.6

4. 1
4.2
3.7
4.5

7.6
5.6
6.2

9/19/84 1C/17/84

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/16/84
6/20/84
7/18/84
8/22/84
9/19/84
10/17/84
11/21/84
12/19/84


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

3.3
4.7

4.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK ( Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
565

BILLIONS

560

546.9
545.7
552.3
554.2
547.2
551 .0

555

550

545

540
535
530

525

520

3

17 31

14 28

NOV
1983

12 26

9 23

DEC

6 20

S

FEB

MAR

19

2

16 30

14 28

MAY

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 10.

II

25

9 23

JUN
1984

6 20

3

AUG

SEP

17

I

15 29

12 26

10 24

1984

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
Ml CONSISTS OF CURRENCY HELD BY THE NONBANK PUBLIC PLUS COIMERCIAL BANK DEMAND DEPOSITS
HELD BY THENONBANK 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
12/12/83

3/12/84

5.3
7.9
7.0
5.9
6.0
5.2
4.2
5.0

8.5
6.8
5.0
5.4
4.3
3. 1
4.3

5/7/84

8/11/84

AVERAGE OF FOUR WEEKS ENDING:
7/9/84

8/13/84

0/10/84

10/8/84

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/ 7/84
8/11/84
7/ 9/84
8/13/84
9/10/84
10/ 8/84
11/12/84
12/10/84


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

1 1.2
6.7
6.9
5. 1
3.4
4.8

0.2
2.4
1 . 1
0.0
2.2

2.9
1 .0
-0.3
2.4

2.2
-0.1
3.3

-3.4
2.0

4.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY MULTIPLIER^/
CURRENCY COMPONENT OF MONEY STOCK*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
2.9

1
1984

RATI

NOV.

2.8

if

DEC

RATIO
2.0

1

a
1

2.8

10

Ml MUL TIPLI •R
*.r

A

A

T vV

2.6

2.5

2.5

[p

2.4

1±LL _LLL 111 1111 111 111 ■ 111 I1L
LATEST DATA PLOTTED WEEK ENDING. DECEMBER 10, 1084

2.4

J_LL

1111

IMI

_1_LL _LLL

“
-

158
158

154
152

~

.1 ILL1

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
162 ------------ 1---------- ---------- 1------------- 1----------

180

JJ_L

162
-

COMPOUNDS D ANNUAL RATES__
CHANGE, AVERAGE OF
FOUR ilEEKS ENDING
EMBER 10, 1984 FROM
FOUR WEEKS END 1 N(»l

180

h
OCT

• 13,
.8.

-

AUG.
JUL.
—JUN.
- MAR.
OEC.

9,
11,
12
12,

1§84
1984
1984
1984
1983

158
L-

_

5-9

188

4.0
5.0
5.3
8.4
6.9

CURREh :y

154
152

-

-

-

-

ISO

150

148

148
146

-

^

.

1984
NOV

142
w
9 17
OCT

ll

laNS .

■ if II
DEC • ,S
lP:i

144

0

8

1111
1 1 1
111
31 14 28 12 26 0 23
NOV
DEC
JAN

1 1 1
1 1 1
6 20 S 19
FEB
MAR

1111
i 11
■ 11
ini
2 16 30 14 28 II 25 9 23
APR
MAY
JUN
JUL

1983
LATEST DATA PLOTTED WEEK ENDING. DECEMBER 10,

144

—

142

111111111111111 i

-LLL
_LLL
8 20 3 17
AUG

SEP

I 13 29 12 26 10 24
OCT
NOV
DEC

1984
1984

1/ RATIO OF MONEY STOCK (Ml ) TO AOJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.


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

148

-

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0

TOTAL CHECKABLE DEPOSITS 1/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
400

385.0
383.4
389.8
390.7
385.0
388.6

395

370

0 23

6 20
FEB

5 10
MAR

2 16 30 14 28 II 25
MAY
JUN

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 10,

9 23

6 20
AUG

3 17
SEP

I

13 20 12

1984

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

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE
12/12/83

3/12/84

5/7/84

8/11/84

AVERAGE OF FOUR WEEKS ENDING:
7/9/84

8/13/84

9/10/84

10/8/84

1.4
-1.7
3.1

-5.8
1.6

4.7

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/ 7/84
6/11/84
7/ 9/84
8/13/84
9/10/84
10/ 8/84
11/12/84
12/10/84

4.0
7.6
6.4
4.8
5.2
4.2
3.0
4.3


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

8.4
6. 1
3.7
4.4
3.0
1.7
3.4

12.2
6.0
6.5
4.3
2.3
4.4

-2.8
0.5
-0.9
-2. 1
1.0

1.2
-0.8
-2.4
1.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

!

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

PERCENT
15.0

14.0

90 DAY

12.0

LOAN RATE

11.0

10.0

0.0

0.0

7 21
OCT

4 18 2 IS SO IS 27 10 24 8 23
DEC
JAN
FEB
MAR
NOV
1985

8 20
APR

4 18
MAY

1

15 20 13 27 10 24
JUN
JUL
AUG
1984

7 21
SEP

8 18
OCT

2 18 50 14 28
NOV
DEC

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING, DECEMBER 21, 1984

1984
OCT.

NOV.

DEC.

S
12
19
26
2
9
16
23
30
r
14
21 ft
28

90 OAY
CD'S
1 1 .02
10.76
10.39
9.82
9.66
9.36
9.35
9. 14
8.81
8.92
8.86
8.39

30-DAY

“W1

90-DAY
BANKERS*
ACCEPTANCES

CORPORATE
AAA BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS m

10.75
10.36
10.05
9.43
9.51
9. 17
9. 17
8.96
8.61
8.69
8.65
8.15

10.80
10.48
10.15
9.61
9.51
9. 14
9. 17
8.94
8.68
8.74
8.71
8.25

12.62
12.52
12.51
12.54
12.50
12.43
12.42
12.20
12.05
12.20
12.21
12.06

14.21
14.09
13.94
13.72
13.61
13.55
13.52
13.48
13.33
13.42
13.43
13.36

10.34
10.36
10.24
10.05
10. 11
10. 17
10.31
10.24
10.04
9.95
10.00
N. A.

• AVERAGES OF RATES AVAILABLE.
BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS. THURSDAY DATA.

m

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
15.0 r—

PERCENT

5-Yfc
TREASURY
IRITIE8

I I I I
7 21

4 IS

OCT

NOV

2

IS 90 19 27 10 24

29

S 20

4 IS

APR

MAY

1

IS 20 19 27

10 24

7 21

5 19

SEP

OCT

2 IS 90 14 21

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING. DECEMBER 21,

1964
OCT.

NOV.

DEC.

5
12
19
26
2
9
16
23
30
7
14
21 X
28

FEDERAL
FUNDS «
11.20
10.01
10.22
9.45
9.73
9.87
9.55
9.47
9.00
8.83
8.70
7.99

3-MONTH
TREASURY
BILL
10.19
10.01
9.81
9.33
9. 10
8.65
8.68
8.55
8.41
8.44
8.27
7.83

6-MONTH
TREASURY
BILL mm
10.35
10.21
10.08
9.57
9.59
9.07
3.99
8.79
8.50
8.67
8.57
8. 15

treaIury

BILL
10.35
10. 15
9.96
9.56
9.43
9. 15
9. 15
8.85
8.78
8.86
8.73
8.35

5-YEAR
TREASURY
SECURITIES
12.46
12.26
12. 10
11.69
11.58
11.47
11.53
1 1.21
11.09
1 1.21
11.19
10.92

1934

SECURITIES
12.54
12.16
12.02
11.70
11.64
11.65
11.73
11.47
11.43
11.60
11.61
11.39

• AVERAGES OF RATES AVAILABLE.
** S£VEN“£$y AVERAGES FOR WEEK END ING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
___ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.15 RELEASE.
SOBS NEW ISSUE RATE


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Federal Reserve Bank of St. Louis

reserve bw* » st- louis-

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

coumeD BY

the federal

8
SMALL TIME DEPOSITSi/
COMMERCIAL BANK SAVINGS DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
410 —---------- 1---------1-----------400

E~ NOV.
12M

390

Z
—
Z

380

_
DEC.

z
z

BILLIONS OF DOLLARS
410

INS

5

BILL 1C
385.3

12
19
26
3
10

385.8
385.7
386.2
387.
388.3

400

E
SMALL TIME

390

E
E

)EPOS TS

380
370

370

E

E
E

360
350

E

360
350

z

E

E

E
E

340

340
330
320

E

330
320

gi 111
0

111

-LU-

mi. 1 1 1

1 1 1

■i 11 ,i...

.ML.

1 1 1

till

1 1 1

1 1 1

1111 _L1.I.

±Ll2

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 10. 1984

BILLIONS OF DOLLARS
155

BILLIONS OF DOLLARS
155
----------- 1---------- 1----------

m±

jj

BULKINS.
124.fi
124.7
124.7
124.5
124.4
124.4

150
=

1

5
12
19
26
3
10

TTTT

-----NOV.
“ DEC.

1 1 1

=____ _

TTTT'

135

SAVIKKSS DEP 5SITS
=

130
5

1 111. 1 1 1
0 25 5 20
JAN
FEB

111
9 18
MAR

1 1 1
1111
1 1 1
2 16 30 14 28 II
APR
MAY
JUN

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 10.

1 1 1 1
JUL
1984

TTTT

5

ini JXL 1 1 I
5 17 51 14 28 12
OCT
NOV
DEC
1983

_

J______

125

li i

111

1111

1 1 1

1 1 1 1

AUG

SEP

OCT

NOV

DEC

s

1984

1/ COMMERCIAL BANK TIME 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

145

TOTAL TIME DEPOSITS^
ALL COMMERCIAL BANKS
AVtKAGtS OP DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
790 ------------- 1---------- 1-----13S1
NOV.

> ir

11

BILLIONS OF DOLLARS

BILLIONS
S

14

NOV

773.2

s

ii
DEC

a

s »

e

20

FEB

s n

2

is so n n n is

WAR

MAY

» 23

JUN

t m
AUG

s ir

1 11

n it

m 10 11

SEP

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 10, IBS4
1/ SAVINGS DEPOSITS PLUS SMALL TIME DEPOSITS PLUS LARGE TIME DEPOSITS

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING:
12/12/83

3/12/84

5/7/84

6/11/84

7/9/84

8/13/84

9/10/84

10/8/84

10.3
8.3
6.1

8.9
5.8

2.5

TO THE AVERAGE
OF FOUR WEEKS
ENDING,
5/ 7/84
6/11/84
7/ 9/84
8/13/84
9/10/84
10/ 8/84
11/12/84
12/10/84

3.9
7.5

8.7
9.7
9.5
9.8
9.4
8.5


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

15.0
15.5
15.6
14.3
14.2
12.9
1 1.4

20.9
19.2
18.4
15.8
13.8
11.8

16.5
13.5
13.6
1 1 .6
9.6

12.0
12.5
10.4
8.3

PREPARED BY FEDERAL RESERVE BANK OP ST. LOUIS

9

10

LARGE TIME DEPOSITS

ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
270

BILLIONS
265
262.8
261 .0
260.7
258.9

260

255

235

230

225

220

9 17 91 14 28 12
NOV
DEC

8 29

8 20
FEB

9 18
MAR

2 18 90 14 28 11 25
MAY
JUN

8 29

6 20
AUG

9 17
SEP

15 28 12 26 10 24

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 10, 1964
TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 OR MORE.

MMDAs, MMMFs and SUPER NOWs
(billions of dollars, not seasonally adjusted)
MMDAs 1/
October
November

29
5
12

December

19
26
3
10

$388.6
391.9
395.5
397.4
399.6
402.9
406.8

MMMFs 2/
$211.7
213.2
218.0
220.8

223.8
226.6
228.8

SUPER NOWs 3/
$44.2
45.7
46.1
46.1
45.8
46.5
47.5

1/ Money market deposit accounts at all depository institutions, effective 12/14/82
2/ Total money market mutual fund balances
,
3/ 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


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
10.0 ---------- ,------------- 1—

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

-------- ----- 10.0

MILLIONS
NOV.

14

4683

28
DEC.
5
12
19

4148
4353
3301
3161

5 19

2 16 30 14 26 II 28
DEC
JAN

8 22

7 21
MAR

4 18
APR

2 16 30 19 27 It 25
JUN
JUL

LATEST DATA PLOTTED WEEK ENDING] DECEMBER 19,

8 22

8 19

3 17 31

14 28 12 28
NOV
DEC

1984

BUSINESS LOANS 17

( COMMERCIAL AND

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
atAOUNALLT AU JUS ItD BY THIS BANK

BILLIONS OF DOLLARS
256 ---------- ,------------- ,-----

BILLIONS OF DOLLARS
------------------------------- 256

COMPOUI
:D ANNUAL RATES
__ w unniwc. AVERAGE OF
IT the four *eeks ending •
_ DECEMBER 5. 1984 FROM
- THE FOUR WEEKS ENDING]
“ OCT. 3,
- SEP. 5,
8,
4,
- JUN. 6,
7,
— DEC. 7,

1984
1984
1984
1984
1984
1984
1983

5.8
5.2
2.5
3.7
4.7
13.1
13.4

'
_
-

MILLIONS
OCT. 31
NOV. 7
248,302

5 I®
OCT

2 16 30 14 28 II 25 8 22
NOV
DEC
JAN
FEB
1983

7 21
MAR

4 18
APR

2 16 30 13 27 II 25
MAY
JUL
JUN

8 22

DEC.

5

5 19

3 17 31

11 11 II

14 28 12 26
NOV
DEC

LATEST DATA PLOTTED WEEK ENDINGt DECEMBER 5, 1984
1/ BUSINESS LOANS INCLUDE BANKERS* ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 91.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

Changes in Business Loans, Large Time Deposits
and Selected Interest Rates

Period

Growth-_____
Large time
Business
deposits
loans

10/26/83-2/22/84
2/22/84-8/1/84
8/1/84-12/5/84

8.7%
23.9
2.9

8.7%
29.7
6.1

Basis Point Change
90-day
Prime
CD rate
rate
0
200
-175

44
170
-247

1/ Compounded annual rates of change for four-week averages
ending on dates shown for business loans and two days earlier
for large time deposits
2/ Averages of weekly rates ending two days later than dates
shown


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Federal Reserve Bank of St. Louis