Full text of U.S. Financial Data : December 3, 1982
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1/ U. S. Financial Data Federal Reserve Bank of St. Louis December3,1982 LlEJFf arv DE( 6 1982 Since July of this year, the demand for short-term business credit has slowed dramatically. Business loans by large weekly reporting banks, which grew at an annual rate of 20 percent from December 1981 through July 1982, grew at only a 10.2 percent rate from July through October. Negotiated at the prime rate these loans are primarily for large amounts and of short duration—usually in excess of $1,000,000 with a maturity of less than one month. The growth of commercial paper outstanding, an alternative source of short-term finance for large prime borrowers, slowed even more drastically as shown in the table. Moreover, as bank loan demand has slowed, so have banks' demands for funds obtained by issuing large certificates of deposit. Consequently, the growth of large time deposits ($100,000 or more) has slowed along with the growth of business loans. As a result of the slowing in these short-term credit demands, associated short-term interest rates have fallen sharply. As shown in the table, the prime rate, commercial paper rate and 90-day CD rate have all dropped by about 400 basis points during the July-to-October period. This is in marked contrast to the earlier period of strong demand for short-term credit. -Mack Ott Short-Term Business Credit Developments Compounded Annual Growth Rates Period 12/81- 7/82 7/82 - 10/82 Business Loans 20.0% 10.2 Commercial Paper Outstanding 15.5% -16.1 Large Time Deposits 22.0% 5.0 Basis Pont Change in Interest Rates Period 12/81- 7/82 7/82- 10/82 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prime Rate Commercial Paper Rate 51 -441 89 -337 90-Day CD Rate 95 -449 2 BORROWINGS FROM FEDERAL RESERVE BANKS AVERAGES OF DAILY FIGURES billions of dollars 1982 4-° billions of dollars MILLIONS —OCT. 27 Z NOV. Z- DEC I I I I I I I I 4 OCT 18 2 16 30 13 27 JAN NOV 10 24 FEB 10 24 7 21 5 APR MAY LATEST DATA PLOTTED WEEK ENDING: DECEMBER 1, 18 2 16 30 14 28 I 25 B 22 6 20 3 OCT NOV 17 1982 BUSINESS LOANS u ( COMMERCIAL AND INDUSTRIAL ) WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/ BILLIONS OF DOLLARS 224 --------- 1---------- 1------------- 1---------220 2f6 212 208 204 Z — — Z — COMPOUNDED ANNUAL RA [ES OF CHANGE, AVERAGE 0 THE FOUR WEEKS END 1 N< N0VEM8ER 24, 1982 FR DM THE FOUR WEEKS END IN Z — — I — Z — SEP. AUG. JUL. JUN. MAY FEB. NOV. 22, 25. 21. 23. 26. 24, 25, 1982 1982 1982 1982 1982 1982 1981 SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS 224 z 220 z 216 -3.9 3.8 3.2 4.9 6.9 10.8 13.9 / z E ,/v 212 208 z 204 z Z E E 200 200 z E E z 198 E 184 E 180 E 176 rm 7 21 OCT 1 1 1 -LLL ,1 1 II. 1 1 1 -LLL 1 1 1 1 4 IS 2 16 30 13 27 10 24 10 24 7 21 DEC JAN FEB MAR APR NOV 4*81 1 1 1 5 18 MAY LATEST OATA PLOTTED WEEK ENDING: NOVEMBER 24, MILLIONS - 184 OCT. 20 217,355 27 216,420 _ 3 215,230 — 180 10 215,314 17 214,966 Z 176 24 213,980 1111111111111: 1 1 1 1 1 1 1 i i i i 1 1 1 IS 30 14 28 II 25 8 3 17 I IS 28 JUL AUG SEP NOV DEC JUN 1982 1982 1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER. 2/ BANKS WITH DOMESTIC ASSETS OF 8750 MILLION OR MORE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS ADJUSTED RESERVES AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 52 ---------- «---------- ,---------- ILL IONS OF DOLLARS ----- ------------------------ 52 50.6 50.9 50.3 I I I I 4 OCT IS 2 16 SO NOV 13 27 JAN 10 24 10 24 5 19 2 IS SO FEB 14 28 JUL 1982 LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 24, II 25 8 AUG 22 6 20 3 OCT NOV 17 1982 ADJUSTED MONETARY BASE (RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FFOFRai BANKS PLUS CURRENCY IN CIRCULATI ON I LESS CURRENCY HELD BY THE NONBANK PUBLIC rpcprue RESERVE ADJUSTED RESERVES COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENOINGi 11/25/81 2/24/82 4/21/82 5/26/82 6/23/82 7/21/82 8/25/82 9/22/82 10.9 10. 1 1 1.4 8.3 8.6 7.8 6.7 7.9 5.0 8.4 4. 1 5.4 4.7 3.7 5.5 12.4 4.2 6.0 4.9 3.6 5.9 2.7 5.8 4.4 2.9 5.8 0.0 0.0 -0.6 3.4 6.0 3.0 7.2 -1.2 5.7 8.4 TO THE AVERAGE OF FOUR WEEKS ENDING: 4/21/82 5/26/82 6/23/82 7/21/82 8/25/82 9/22/82 10/27/82 11/24/S2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4 MONEY STOCK ( Ml ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS billions of dollars 467.7 470.3 473. 1 — NOV 475.8 474.5 I I I I I I I I 4 OCT 18 2 16 30 13 27 NOV JAN 10 24 10 24 FEB 7 21 3 IS APR MAY LATEST DATA PLOTTED WEEK ENDING. NOVEMBER 24. 2 16 30 14 28 II 25 8 22 6 20 3 OCT NOV 17 I 15 29 1982 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. Ml CONSISTS OF CURRENCY HELD BY THE NONBANK PUBLIC PLUS COMMERCIAL BANK DEMAND DEPOSITS HELD BY THE NONBANK 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, 11/25/81 AVERAGE OF FOUR WEEKS ENDING: 2/24/82 4/21/82 5/26/82 6/23/82 7/21/82 8/25/82 9/22/82 3.9 3.7 1 .4 3.2 5.0 6.9 8. 1 0.6 -1 .9 1.5 4.2 6.8 8.3 -2.4 2.6 5.9 8./ 10.3 2.4 6.8 10. 1 1 1 .6 13.8 15.7 16.4 18.3 18.5 19. 1 TO THE AVERAGE OF FOUR WEEKS ENDING: 4/21/82 5/26/82 6/23/82 7/21/82 8/25/82 9/22/82 10/27/82 11Z24/82 9.6 7.5 6.9 5. 1 5.8 6.8 8. 1 8.9 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE 8ANK OF ST. LOUIS MONEY MULTIPLIER^ CURRENCY COMPONENT OF MONEY STOCK 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO 2.9 ----------1---------- 1----------- i---------1982 RATIO 2.9 PAT ifl oct. ?9 NO v. ; I S 1 2.1 Ml ML LTIPL IER A' lu. ILL 1111 111 -LI I III! .hi 1111 ILL 111 JU 1 INI LLL _LL.I Mil’ LATEST DATA PLOTTED WEEK ENOING-. NOVEMBER 24. 1982 BILLIONS OF DOLLARS 134 ~ 1------------- 1---------- 1---------- 130 128 - COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF - NO VEMBER 24, 1982 FF*0M TH E FOUR WE£lKS END 1 4G: -----SE P. AU G. - JU L. JU N. - MA Y FE B. - NO V. 22, 1982 25, 1982 21, 1982 23, 1982 26- 19R2 24 , 1982 25 , 1981 BILLIONS OF DOLLARS 134 - - 5. 6.6 6.6 6. 7 ( 7.6 ' 8. CURRE NCY V-" - *„/ - - - - aiua.aus. i982 - OCT. ' NOV. 20 3 a *\ 1 1 111 j.i 11 111 11 1 111 i 111 111 ■ i 111 JAN FEB MAR APR MAY 2 OCT NOV 1981 DEC in li 111 -IIII i N1111 i 6 20 3 OCT NOV 10 SO 14 28 II JUN JUL 1982 AUG ” | Nil1 I IS DEC LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 24, 1982 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 5 6 ELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY 22.0 22.0 21.0 21.0 20.0 PRIME BANK LOAN RATE 17.0 90 DAY CD'S 15.0 CORPORATE Aaa BONDS MUNICIPAL BONOS** 1 1 .0 10.0 2 16 30 IS 27 NOV II 25 8 22 DEC 9 10 5 10 FEB MAR 2 16 90 14 28 MAY II 25 0 23 JUN 6 20 3 AUG SEP IT 1982 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: DECEMBER 3. 1982 OCT. 1 8 15 22 29 NOV. 5 12 19 26 DEC. 3 X 10 17 24 31 90 DAY CD’S PRIME COMMERCIAL PAPER KMOfc PRIME BANKERS' ACCEPTANCES CORPORATE Aaa BONOS CORPORATE Baa BONDS 10.43 10.46 9. 16 9.02 9. 14 8.96 9.01 9. 19 8.69 8.80 10.35 10.23 8.83 8.75 8.93 8.78 8.77 8.91 8.48 8.66 10.23 10.15 8.96 8.83 8.98 8.78 8.85 8.96 8.61 8.73 12.66 12.49 11.94 11.95 12.00 11.68 11.62 11.70 11.67 11.83 15.40 15.21 14.53 14.48 14.57 14.44 14.39 14.23 14. 17 14. 17 1982 MUNICIPAL BONOS XX . 10.48 9.75 9.25 9.69 10.05 9.96 9.92 10.20 10.20 . N. A. * AVERAGES OF RATES AVAILABLE. ** BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA. *** DATA ARE 4-MONTH COMMERCIAL PAPER RATES. 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 20.0 20.0 19.0 18.0 17.0 IERAL fundIS : RATE 16.0 16.0 5-YEAR TREASURY SECURITIES 15.0 15.0 14.0 13.0 13.0 12.0 l 1 .0 10.0 9.0 8.0 3-M<ONTH TREASUFRY BILL 7.0 6.0 2 16 30 IS 27 II NOV 1981 25 8 22 DEC 5 19 MB FEB MAR 2 16 30 14 28 II MAY 25 9 23 JUN 6 20 3 AUG SEP 17 I 15 29 12 26 10 24 1982 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENOING: DECEMBER 3. 1982 OCT. 1 8 15 22 29 NOV. 5 12 19 26 DEC. 3 * 10 17 24 31 1982 FEDERAL FUNOS *# 3-MONTH TREASURY BILL 6-MONTH TREASURY BILL *XX 1-YEAR TREASURY BILL 5-YEAR TREASURY SECURITIES LONG-TERM TREASURY SECURITIES 10. 12 10.77 9.60 9.53 9.44 9.43 9.45 9.61 8.91 8.69 7.52 7.93 7.48 7.54 7.93 7.78 8.07 8.31 7.94 8.27 9.20 9.23 7.73 7.76 8.47 8.23 8.40 8.54 8. 1 1 8.51 9.51 9.24 8. 19 8.28 8.58 8.36 8.47 8.49 8.35 8.63 1 1,74 11.29 10.46 10.50 10.73 10.34 10.44 10.51 10.21 10.38 11.54 11.28 10.50 10.57 10.74 10.31 10.39 10.49 10.50 10.74 K AVERAGES OF RATES AVAILABLE. ** S|yEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 RELEASE. *** NEW ISSUE RATE HrWSPIfKcS^Km.*"5 C0MPUTED Bv THE FEDERAL RESERVE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 0F ST- “»'»■ PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 7 0 8 TOTAL CHECKABLE DEPOSITS^ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 350 340 l _ - OCT. Z - NOV. 325 20 27 3 10 17 24 An A ' \J V / / -- /V., A \ r-1 310 330 r~ z rV 325 — V 315 310 ^ z TTTT J^ll 1 1 1 i M i 111 hi 1111 111 in NOV 1981 DEC JAN FEB MAR APR MAY LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 24, MM -LLL. -LLL ■ JUN JUL 1982 AUG 111 SEP -LLL -LLL w OCT NOV DEC 1982 1/ DEMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITORY INSTITUTIONS TOTAL CHECKABLE DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 1/25/81 2/24/82 4/21/82 5/26/82 6/23/82 7/21/82 -5.9 1 .0 5.5 9.5 1 1.8 1 .8 7.5 1 1 .9 14.2 16.7 19.4 20.7 8/25/82 9/22/82 TO THE AVERAGE OF FOUR WEEKS ENDING: 4/21/82 5/26/82 6/23/82 7/21/82 8/25/82 9/22/82 10/27/82 11/24/82 320 E H ill 300 " 340 335 TTTT III! 315 305 M A, f 345 E r1 320 E BILLIONS 332.1 334.5 337.4 337.3 339. B 338. 3 TTTT 330 mi M ill M ill 335 BILLIONS OF DOLLARS 350 1--------1— TTTT 345 E 9.9 6.7 5.7 3.6 4.8 6.2 8.0 9.2 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 1.9 1.3 -1.2 1.4 3.9 6.6 8.4 -3.5 -5.8 -0.9 2.8 6.5 8.6 23.0 23.7 24.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 305 300 TOTAL TIME DEPOS I TS 1/ ALt COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF dollars BILLIONS 847.7 847.2 846.8 845.4 843.7 Lilli LI. J-lllLlll I I I I JAN FEB LATEST DATA PLOTTED WEEK EtyDINGt NOVEMBER 24. 1982 1/ SAVINGS DEPOSITS PLUS SMALL TIME DEPOSITS PLUS LARGE TIME DEPOSITS TOTAL TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING; 11/25/81 2/24/82 4/21/82 5/26/82 6/23/82 7/21/82 8/25/82 9/22/82 12. 1 13.0 13.7 14.2 14.5 13.6 12.3 1 1.2 19.9 19.5 19.3 18.7 16.8 14.5 12.8 17.5 17.8 17.4 15.0 12.4 10.6 18.4 17.6 14.5 11.4 9.5 17.4 13.4 10.0 8.0 11.1 7.6 5.7 3.1 1.9 0.6 TO THE AVERAGE OF FOUR WEEKS ENDING-. 4/21/82 5/26/82 6/23/82 7/21/82 8/25/82 9/22/82 10/27/82 11/24/82 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 10 SMALL TIME DEPOSITS 1/ COMMERCIAL BANK SAVINGS DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 430 E------- 1---------- 1------------- 1---------420 410 400 390 380 370 z :r_ COMPOUNDED ANNUAL R 4TES Z OF CHANGE, AVERAGE DF - THE FOUR WEEKS END 1 MG — NOVEMBER 24, 1982 F Z THE FOUR WEEKS END 1 MG: Z — Z z_ = = btP. AUG. JUL. JUN. MAY FEB. NOV. 22 , 1982 25 , 1982 21 , 1982 23 , 1982 26 ,1982 24 , 1982 25 , 1981 BILLIONS OF DOLLARS z 410 SMALL TIME )EPOS TS = -3. -0. 6. 10. ! 11. 16. 14. z z E E = 360 E 350 340 400 390 380 370 360 350 z “ 19Si z 330 320 420 BILLIONS = 1:| - z N0\< • Ell ,3 320 E is M 310 0 i 11 1111 111 -U i mi 111 111 1111 ILL 1 1 1 340 330 OCT | i i i i i i i i i i i i' mi 310 LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 24, 1982 BILLIONS OF DOLLARS • 190 185 .. BILLIONS OF DOLLARS 190 Z 382 1 OCT • NOV. 180 z 39 ^ B1LL1ONS 59.2 175 170 165 24 z 64 SAVING > DEP )SITS 3 = E 185 z 180 | 175 z E z z 160 155 150 145 140 135 130 E = z COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF Z Z NOVEMBER 24, 1982 Ff 10M Z_ THE FOUR WEEKS END IfMG: z = SEP. 22, 1982 27. z-AUG. 25. 1982 20.Z JUL. 21. 1982 J0.( z__ JUN. 23, 1982 A.t i z MAY 26, 1982 3.( z FEB. 24. 1982 3.( ’ 4.„Jlll z~ NOV. 25, 1981 IllIi i 11 in 11111 = NOV 1981 DEC JAN FEB z z 160 155 150 140 135 130 mi 1 1 1 MAR in JILL 1 1 1 1 1 1 1111 7 21 S It 2 16 SO 14 2t II 25 • 22 APR MAY JUN JUL AUG SEP 1982 hi 6 20 OCT ILL W 3 17 NOV I 15 28 DEC LATEST DATA PLOTTED WEEK ENDING: NOVEMBER 24, 1982 1/ COMMERCIAL BANK TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 165 145 10 24 OCT 170 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS ADJUSTED MONETARY BASE AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS _ OCT. NOV. 27 4 18 SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS 181 .0 181 .6 182.1 182.4 182.1 182.5 2 16 30 13 27 10 24 JAN FEB 10 24 7 21 1981 1982 LATEST DATA PLOTTED WEEK ENDING» DECEMBER I, 1982 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, AVERAGE OF FOUR WEEKS ENDING: 12/2/81 3/3/82 4/28/82 6/2/82 6/30/82 8/4/82 9/1/82 9/29/82 9.5 9.6 9.5 8.3 8.5 8. 1 7.8 7.9 8.8 8.9 7. 1 7.7 7. 1 6.9 7. 1 9.6 6.5 7.4 6.7 6.6 6.9 4.7 6.5 5.8 5.8 6.3 5.3 4.8 5.1 5.8 7.1 6.7 7.2 4.9 6.2 7.3 TO THE AVERAGE OF FOUR WEEKS ENDING-. 4/28/82 6/ 2/82 6/30/82 8/ 4/82 9/ 1/82 9/29/82 11/ 3/82 12/ 1/82 http://fraser.stlouisfed.org 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 ILL IONS OF DOLLARS 290 p------- 1---------- 1-------BILLIONS 4 OCT 1$ NOV 2 10 30 IS 27 10 24 10 24 JAN FEB 7 21 LATEST DATA PLOTTED WEEK END INGt NOVEMBER 24. JUL AUG 1982 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. TIME DEPOSITS ISSUED IN DENOMINATIONS OF tIOO.OOO OR MORE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS