Full text of U.S. Financial Data : December 22, 1994

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

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U.S. Financial Data ■
THE WEEK'S HIGHLIGHTS:
✓ The final third-quarter estimate shows that real gross domestic
product (GDP) rose at a 4 percent annual rate, up 0.1 percentage
points from last month’s preliminary estimate. The fixed-weighted
price index for gross domestic purchases (prices paid by U.S.
residents) rose at a 3.5 percent rate in the third quarter after rising
at a 2.9 percent rate over the first half of 1994.
✓ The trade deficit for goods and services measured $10.1 billion in
October, following a revised $9.4 billion deficit in September. For
the first 10 months in 1994, the trade deficit measured $90.5 billion,
compared with $63.7 billion for the same period in 1993.
✓ Privately owned housing starts in November were at an annual rate
of1,540,000 units, up 6.9 percent from October. Total housing starts
have risen 9.5 percent since November 1993.
1/

Corporate Aaa bonds yielded 8.45 percent for the week ending
December 23, down 29 basis points from six weeks ago, but up 150
basis points from one year ago (see page 6).
USFD will not be published next week
because of the Christmas holiday.

All data are seasonally adjusted unless otherwise indicated.
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 $21 for one year (50 issues) or
$36 for two years (100 issues). For more information or to request an order form, please call
(314) 444-8808 or (314) 444-8809. Sorry, no refunds.
Information in this publication is also included in the Federal Reserve Economic Data (FRED) elec­
tronic bulletin board. You can access FRED with a personal computer and a modem at (314) 621-1824.

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

2
Adjusted Monetary Base
Averages or uaiiy Figures

Billions of Dollars

Billions of Dollars

Seasonally Adjusted

1994

Billions

Oct 12

451.7
453.5
451.2
455.3
452.8
452.3

_ Nov 9
Dec 7

S 20 3 17 1 15 29 12 29

9 23 9 23 8 20 1 18 1 15 29 13 27 10 24 7 21

5 19 2 10 30 14 28

Oct

Nov
Dec Jan
Feb
Mar Apr
May
Jun
Jul
Aug Sep
Oct
Nov
Dec
1993
1994
Latest data plotted reserve maintenance period ending: December 21. 1994
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
T ..
. Compounded annual rates of change, average of two maintenance periods ending:
I o the average of 12/22/93 3/16/94 5/25/94 6/22/94 7/20/94 8/17/94 9/14/94 10/26/94
two maintenance
periods ending:
5/25/94
8/22/94
7/20/94
8/17/94
9/14/94
10/26/94
11/23/94
12/21/94

10.6
10.4
10.1
9.7
9.3
8.7
8.1
7.3


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

6.6
7.1
7.0
6.B
6.5
6.0
5.2

8.7
8.1
7.4
6.8
6.1
5.0

7.7
6.9
6.4
5.6
4.4

6.1
5.8
4.9
3.6

5.3
4.4
2.9

Prepared by Federal Reserve Bank of St. Louis

Money Stock (Ml) and Total Checkable Deposits
Averages ot Daily Figures
Seasonally Adjusted

Billions of Dollars

1150 -

1994

Billions

Nov 7
14
21
28
Dec 5
12

1143.8
1143.5
1152.9
1152.0
1150.2
1148.3

Billions of Dollars

M1 (left scale)

TCD (right scale)

1994

TCD
Billions

Nov 7
14
21
28
Dec 5
12

4 II 1
Oct

783.2
782.8
791.6
789.8
787.8
786.7

15 21 13 27 18 24 7 21 7 21 4 18 2 II 30 13 27 11 25 I 22 5 IS 3 17 31 14 21 12 21

Nov
1993

Dec

Jan

Feb

Mar

Apr

May

Jun
Jul
1994

Aug

Sep

Oct

Nov

Dec

Latest data plotted week ending: December 12, 1994
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)
To the average

Compounded annual rates of change, average of four weeks ending:
12/13/93 3/14/94 5/9/94 6/13/94 7/11/94 8/15/94 9/12/94 10/10/94

ending:
5/9/94
6/13/94
7/11/94
8/15/94
9/12/94
10/10/94
11/14/94
12/12/94

3.0
3.5
3.6
3.7
3.4
2.8
2.0
2.3


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

1.4
2.1
2.5
2.2
1.6
0.6
1.2

5.1
4.7
3.7
2.6
1.1
1.8

4.3
3.1
1.7
0.2
1.1

2.4
0.8
-0.8
0.5

-1.1
-2.5
-0.5

-3.9
-0.8

0.1

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Billions of Dollars

1994

Ssasonolly Adjusted

Billions of Dollars

Billions

Nov 9
23 102.6
Dec 7

Nov

Dec

Feb

Mar

Apr

May

Jun
Jul
1994

Aug

Sep

Oct

Nov

Dec

Latest data plotted two weeks ending; December 7, 1994
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
12/8/93 3/2/94 5/11/94 6/8/94
7/6/94
8/3/94 8/31/94 10/12/94
two maintenance
periods ending:
5/11/94
6/8/94
7/6/94
8/3/94
8/31/94
10/12/94
11/9/94
12/7/94

3.8
3.8
2.4
3.2
3.1
2.4
-0.4
-0.8


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

-7.2
-6.9
-4.2
-3.2
-2.9
-6.0
-5.9

-1.3
2.1
2.2
1.1
-3.8
-4.0

1.3
1.7
0.6
-5.2
-5.1

5.8
2.5
-5.0
-5.0

0.0
-8.7
-7.9

-12.8
-10.6

Prepared by Federal Reserve Bank of St. Louis

•

•

Money Multiplier1/

Ratio

seasonally Adjusted

Compounded annual
rates of change,
average of the four
weeks ending
December 5, 1994 from
the four weeks ending:
Dec 6, 1993 -5.0
Mar 14, 1994 -4.6
Jun 6, 1994 -4.3
Jul 18, 1994 -4.7
Aug 15, 1994 -5.3
Sep 12, 1994 -5.3
Oct 10. 1994 -4.3

4 !8

1 15 29 13 27

Ratio
Sep 26

2.551

Oct 10

2.545
2.534 _
2.536
2.522
2.542

Nov 7
Dec

10 24 7 21 7 21

5

4 18 2 16 30 13 27 11 25 8 22 5 19 3 17 31 14 28 12 26

Oct

Nov
Dec
Jan
Feb Mar Apr
May
1993
Latest data plotted two weeks ending: December 5, 1994

Jun

Jul
1994

Aug

Sep

Oct

Nov

Dec

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

360

350

360

Billions of Dollars

360

-------- 1--------- 1---------Compounded annu al
rates of change,
average of the fou
weeks ending
. December 12. 1994
the four weeks end ng:
Dec 13, 1993 1C .3
Mar 14, 1994
.3
Jun 13, 1994
.8
Au< 15,
Sep 12.
Oct 10.

994
994
994

350

340

.2
.2
.5

330

330

320

310

~T 1 1

4 1!

Oct

BillieiJ13

Nov 7
14
21
28
Dec 5
12

352 .3
352 .4
352.9
353.6
353.9
353.1

'I'M *T T I '■ T'"T ■ I ■' r-'-i *rrW

■ I M

I

1 994

15 29 13 27 10 24 7 21 7 21 4 1! 2 11 30 13 27 11 23 8 22 S 19 3 17 31 14 28 12 28

Nov
1993

Dec

Jan

Feb

Mar

Apr

May

Jun
Jul
1994

Aug

Sep

Oct

Nov

320

310

Dec

Latest data plotted week ending: December 12, 1994
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

Averoges of Doily Figures

Corporate
Aaa donda

Loan Rate

1 IS 2! 12 21
Oct

Nov
1993

II 1 15 2! 12 27 10 24 I 22
Dec

Jan

Feb

Mar

Apr

May

Jun
Jul
1994

2 11 30 14 21
Aug

Sep

Oct

Nov

Dec

Latest data plotted are averages of rates available for the week ending: December 23, 1 994

1994

30—Day
Commercial
Paper

90-Day
CDs

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

Sep 30
Oct 7
14
21
28
Nov 4
11
18
25
Dec 2
9
16
23 *

5.01
5.08
5.08
4.96
4.98
5.05
5.24
5.50
5.60
5.79
6.09
6.12
6.07

5.21
5.51
5.49
5.47
5.56
5.59
5.72
5.80
5.87
6.08
6.28
6.30
6.26

5.13
5.42
5.40
5.38
5.45
5.52
5.63
5.74
5.77
5.99
6.17
6.20
6.13

8.48
8.57
8.50
8.54
8.65
8.68
8.74
8.70
8.63
8.57
8.47
8.46
8.45

9.10
9.20
9.14
9.18
9.29
9.32
9.37
9.33
9.26
9.21
9.11
9.10
9.08

6.43
6.50
6.44
6.49
6.64
6.83
6.96
7.06
7.03
6.90
6.88
6.77
NA

Current data appear in the Federal Reserve Board's H.1S 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

Averages of Daily Figures

✓^ \

Discount Rate

I 15 2! 12 25 10 24 7 21 4 18 4 IS 1 15 29 13 11 10 21
Nov
1993

Dec

Jan

Sep 30
Oct 7
14
21
28
Nov 4
11
18
25
Dec 2
9
16
23 +

Federal
Funds **

Mar

3-Month
Treasury
Bill

Apr

May

22 5 19 2 15 30 14 28

Jun
Jul
Aug
Sep
Oct
1994
Latest data plotted are averages of rates available for the week ending: December 23, 1994

1994

Feb

1—Year
Treasury
Bill

5—Year
Treasury
Securities

10—Year
Treasury
Securities

Long-Term
Treasury
Securities

4.66
5.07
4.62
4.72
4.72
4.77
4.74
5.22
5.53
5.85
5.47
5.48
5.56

4.66
5.58
7.25
7.60
7.89
4.90
5.71
7.38
7.72
7.99
4.91
5.67
7.30
7.65
7.92
4.94
5.76
7.37
7.71
7.97
5.01
5.86
7.53
7.86
8.08
5.10
5.90
7.61
7.94
8.14
5.22
6.00
7.69
8.00
8.19
5.34
6.18
7.73
7.97
8.16
5.31
6.22
7.74
7.91
8.10
5.53
6.45
7.79
7.89
8.06
5.70
6.62
7.74
7.79
7.95
5.66
6.73
7.78
7.82
7.96
5.48
6.62
7.76
7.81
7.94
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


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

Prepared by 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

2500
M2
1994 Billions
Nov 7
14
21
28
Dec 5
12

M2 (left scale)

3585.6
3586.3
3603.6.
3599.8
3598.3
3593.9

2475

2450
/

'I

2425
Non-M1 M2 (right scale)
Non-M1 M2
1994 Billions
Nov 7
14
21
28
Dec 5
12
4

II

1

15 29 13 27 10 24

7

21
Feb

1993

7

21 4 18 2 18 30 13 27 11 25
Mar
Apr
May
Jun
1994

8 22
Aug

5

2441.8
2442.8
2450.7
2447.8
2448.1
2445.6

II 3 17 31 14 21 12 21
Sep
Oct
Nov
Dec

2400

2375

Latest data plotted week ending: December 12, 1994
Current data appear in the Federal Reserve Board's H.6 release.
M2 is the sum of Ml, 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 12/13/93 3/14/94 5/9/94 6/13/94 7/11/94 8/15/94 9/12/94 10/10/94
ending:
5/9/94
6/13/94
7/11/94
8/15/94
9/12/94
10/10/94
11/14/94
12/12/94

1.8
1.7
1.4
1.6
1.3
1.1
0.7
1.0


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

2.3
1.6
1.8
1.3
1.0
0.5
0.9

0.6
1.3
0.7
0.4
-0.1
0.4

1.1
0.4
0.0
-0.5
0.2

0.9
0.2
-0.5
0.4

-1.2
-1.6
-0.2

-1.8
0.0

0.6

Prepared by Federal Reserve Bank of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Savings
1994 Billions
Nov 7
14
21
28
Dec 5
12

Small Time
1994 Billions

1161.8
1160.2
1161.5
1158.71151.2
1146.1

Nov 7
14
21
28
Dec 5
12

801.8
804.7
806.8
808!7 — 855
811.3
814.1

» DeposHs(left scale)

Small Time (right scale)

4

II
Oct

I 15 29 13 27 10 24 7 21 7 21 4 18 2 18 30 13 27 11 25
Nov
Dec
Jan
Feb Mar
Apr
May
Jun
Jul
1993
1994
Note: Savings deposits are at all depository institutions.

22

5

I9

3

17 31 14 28 12 25

Large Time Deposits and Money Market Funds1 /
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars
Large
1994
Nov 7
14
21
28
Dec 5
12

Billions of Dollars

Time
Billions
357.9
359.0
359.2
360.8 361.7
364.6

Money Market
1994 Billions
Nov 7
14
21
28
Dec 5
12

366.6
368.1
372.1
371.8 —
372.7
375.9

Large Time
»

18

I

15 2! 13 27 10 24
Nov
Dec
1993

7

21
Feb

7

21
Mar

8

IS 2 If 10 11 27 11 25 8 22
Apr
May
Jun
Jul
Aug

Latest data plotted week ending: December 12, 1994
1/ Large time deposits are those issued in denominations of $100,000 or more.
Money market funds are general purpose and broker/dealer.


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

5

1! 1 17 II 14 21 12 !f
Sep
Oct
Nov
Dec

Prepared by Federal Reserve Bank of St. Louis

9

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

1994

Billions

Nov 16

0.204
0.197
0.224
0.208

Dec 7

Billions of Dollars

0.237

Oct
Nov
Dec
Jan
Feb Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1993
1994
Borrowings include seasonal, adjustment and extended credit; extended credit was $1 million in the week ending
July 20, 1994 and was zero in the other weeks shown in the chart.

Bank Loans and Credit
All Commercial Banks in the United States
Seasonally Adjusted

Billions of Dollars
Bank
1994
Nov 2
9
16
23
30
Dec 7

Credit
Billions
3292.9'
3284.3
3292.0
3303.4
3306.53306.7

20
Oct

Billions of Dollars

Bank Credit (left scale)

Loans and Leases (right scale)

6

1

Loans&Leases
1994 Billions__
Nov 2 2334.4
9 2333.8
16 2342.5
.
23 2354.2__
30 2356.4
Dec 7 2358.6

3 17 1 15 29 12 2fi 9 23 § 23 S 20 4 18 1 IS 29 1] 27 10 24 7 21 5 19 2 IS 30 14 28
Nov
Dec
Jan
Feb Mar
Apr May
Jun
Jul
Aug
Sep Oct
Nov
Dec
1993
1994
Latest Wednesday data plotted : December 7, 1994
Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign-related institutions
2/ Includes loans and leases and securities
Prepared by Federal Reserve Bank of St. Louis


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

Commercial Paper of Nonfinancia) Companies

Billions ot Dollars

1994

Billions of Dollars

Not Seasonally Adjusted
Billions

157.522
155.958
165.007
Dec

7 164.725
163.281

i M 1 II I 15 20 I! !t ! 21 ) 21 S JO 4 1! I IS 20 1] 27 IS M 7 !1 S I! 2 IS 18 14 !l
Nov

Dec

Feb

Mar

Apr

May

Jun
Jul
1994

Aug

Sep

Oct

Nov

Dec

Latest data plotted week ending: December 14. 1994

Commercial and Industrial Loans

Billions of Dollars

650

All Bar

64V
630

330

ks

1994 Bi lions
"Nov 2 6 35.4
9 6 35.3
16 6 39.3
23 6 40.1
Dec

7

320
mm ^ m

641.2

(20
Lori

•

BankJ (rigt t scale

(10

/’

(00

_

)2/

310

•y

300

/
\/

*

200

J

Lar ge Ba iks
199

-

300

«)1/

All B<ink*

(1 eft
u.

300

Billions of Dollars

-----------1------------- —

seal

Nov 2
9
16
23
O
Dec 7

Billi
308.4
307.6
309.2
310.3
310.2
309.2

200
270

T-''T ' r'T' i1 Tf l r 1 ■ 1
•3T'Hd rr 'll 1 « o f
2(0
* 26 3 17 1 15 2! 1! !l S 2i 0 !1 S IS 4 11 1 IS 2! 11 27 IS 24 7 21 5 1! 2 IS 10 14 21

Oct

Nov
Dec
Jan
Feb Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
1993
1994
Latest Wednesday data plotted : December 7. 1994
Current data appear in the Federal Reserve Board's H.B release.
1/ Includes foreign—related institutions
2/ Weekly reporting, domestically chartered banks
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

1994 1973-100

I 20
Oct

3 17 1 15 2! 12 21
Nov Dec
Jan
1993

i 23 1 23 t 21 4 II 1 15 21 13 27 10 24 7 21 5 I!
Feb Mar
Apr
May Jun
Jul
Aug Sep
Oct
1994

2

It 31 14 21
Nov
Dec

Latest data plotted week ending: December 21. 1994
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

Ss

PC M
n

PC >
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05 CM