Full text of U.S. Financial Data : December 8, 1988

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U:S. Financial Data
"December 8, 1988

DEC 1

Z

1988

THE WEEK'S HIGHEIGHTS:
s

The civilian unemployment rate in November rose 0.1 percentage
points to 5.4 percent of the work force. Total civilian employment
increased by 455,000 persons from October and was up 2.2 percent
from a year earlier.

is

New factory orders for durable goods rose 2.3 percent from September
to October reflecting, in part, a strong increase in defense
shipbuilding and tank orders. For the first 10 months of 1988,
durable goods orders were up 10.4 percent from the corresponding
period a year earlier.

is

Sales of new single-family homes rose 3.5 percent in October and,
for the first 10 months of this year, showed little change from the
same period in 1987.

is

Consumer installment credit outstanding expanded at a 6.7 percent
annual rate in October and was up 8.2 percent from a year earlier.

niK

FEDERAL

J KKSKKM
>0 HANK..I

Or si.unis

Views expressed do not necessarily reflect official positions of 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
290

282.1

206

7 21

4

OCT

NOV

It

2 IS 90 13 27 10 24

JAN

9 29

6 20

4

APR

FEB

MAY

It

1

IS 29 19 27 10 24

7 21

5 It

2 It 90 14 2t

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDINOt NOVEMBER SO.
ADJUSTI

-TARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL

NKS. CURRENCY IN CIRCULATION CCU.....
(CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF ALL

BAT*.

--------------- 1) AND AN ADJUSTMENT PI
FOR RESERVE REQUIREMENT RATIO CHANGES.
THE MAJOR
MONETARY BASE IS FEDERAL RESERVE CREDIT. DATA ARE COMPUTED BY THIS
JNF.TARY BASE IS AVAILABLE FROM THIS BANK.

RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING
2/2/87

2/24/88

5/4/88

5.0
6.8
7.0
6.5
6.3
5.9
6.3

5.5
6.3
5.6
5.6
5.2
5.8

6/1/88

5/28/88

7/27/88

8/24/88

10/5/88

5.7
5.7
5. 1
5.9

4.S
4.3
5.5

4.5
5.9

6.1

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING?
5/ 4/(18
8/ \/m
8/29/88
7/27/88
8/24/88
10/ 5/88
11/ 2/88
11/30/88

7.6
6. 1
7.0
7. 1
6.8
6.6
6.3
6,5


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

10.6
8.3
7.4
6.5
7.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
StASUNALLY ADJUSTED

BILLIONS OF DOLLARS

ILL IONS OF DOLLARS

795 --------- 1------------1-----

I

----- -------------------- 795

780.9
784.5
781 .8

NOV.

784.7
787.8

5 10

2

16 90 14 21 II

DEC

25

JAN

8 22

7 21

4

MAR

APR

18

2 IB 30 IS 27

JUN

1

25

8 22

5 10

5 17 5!

JUL

14 21

NOV

12 26

DEC

LATEST DATA PLOTTED WEEK ENDINGj NOVEMBER 28. 1988
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
KMififtJMWgUSi? BY THE nonbank public' DEUAfc DEP08IT8. other checkable

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS END INGt

11/30/87

2/29/88

4/25/88

5/30/88

6/27/88

5.5
4.6
5.5
6.0
5.3
5.0
4.5
4. 1

5.5
6.8
7.4
6.1
5.6
4.8
4.3

5.5
6.8
5. 1
4.6
3.7
3.3

10.5
6.7
5.7
4.4
3.7

7/25/88

8/29/88

9/26/88

4.8
4.0
2.9
2.4

TO THE AVERAGE
OF FOUR WEEKS
ENDING:

4/25/88
5/30/88
6/27/88
7/25/88
8/29/88
9/26/88
10/31/88
11/2B/88


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK*/
RATIO
3.0

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
3.0

------- 1----------1--------1-------1988

«:

RATIO

'l

m

17
31

2.770
2.761

28

2.75
Ml ML LTIPLI

^__

2.7

2.7

111 1111 _LLL J_LL 1 ILL _LLL -LLL JILL JJJ- -LLL Jill J_U. 1 1 1 1
5 10
OCT

2 16 SO 14 26 II 28 8 22 7 21
NOV
DEC
JAN
FEB
MAR
1987

2 16 90 13 27 II 20 8 22
MAY
JUN
JUL
AUG

8 16
SEP

1 1 1

.llJ

3 17 3t 14 26 12 26
OCT
NOV
DEC

LATEST DATA PLOTTED TWO WEEKS ENDING* NOVEMBER 28, 19
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
218

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FI

LNDlNGi

SEP. 26,
AUG. 29,

1
1

JUN.

27,

1

>V.

30,

1

CURRENCY

ISSft
OCT.
NOV.

24

BILLIONS
210.0
IKS
209.7
211.1

lllli. I. U Li U I I
8 16

2 16 90 14 26 11 28
DEC
JAN
1987

6 22

7 21

4 16

2 16 90 13 27 II 28

8 22

8 16

9 17 31

14 28 12 26
NOV
DEC

1988

LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 28, 1988
1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

196

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
580 ---------- 1------------- ,------

OCT.

24

BILLIONS OF DOLLARS
------------------------------- 5®°

563.5
566.5
566.8
569.3

S 19

2 IS 30 14 28 11

NOV
1987

DEC

29

JAN

8 22

FEB

7 21

4 18

MAR

APR

2 18 90 13 27

LATEST DATA PLOTTED WEEK ENDING*. NOVEMBER 28,
,S THE SUM
UfcrUolI Uni

^

DEMAND

II

28

JUN
JUL
1988

8 22

AUG

8 IB

SEP

3 17 91

OCT

14 28 12 26

NOV

DEC

1988
deposits and other checkable deposits at all

INSlI lui IONS.

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE.
11/30/87

AVERAGE OF FOUR WEEKS ENDING:

2/29/88

4/25/88

5/30/88

6/27/88

4.3
6.3
6.9
5.5
4.8
3.7
3.2

5. 1
6.4
4.5
3.7
2.5
2.0

1 1 .5
6.8
5.2
3.4
2.6

4.0
2.8
1.3
0.8

7/25/88

8/29/88

9/26/88

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/25/88
5/30/88
6/27/88
7/25/88
8/29/88
9/26/88
10/31/88
11Z28/88

4.0
3.0
4.3
4.9
4.2
3.8
3.2
2.8


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Federal Reserve Bank of St. Louis

-0.1
-1.0
-l.l

- .3
- 1.3

-2.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

I

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

12.0

CORPORAT
AAA BOND!

RATE

MUNICIPAL
BONDS

2 16 30 13 27 II 25
NOV
DEC
1987

8 22

5 10
FEB

4 18
MAR

I

15 29 13 27 10 24

6 22

5 10

2 16 30 14 28 II 25
OCT
NOV

0 23

1988

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt DECEMBER 9, 1988.

1988
OCT.

NOV.

DEC.

7
M
21
28
4
1 1
18
25
2
9 *
16
23
30

90 DAY
CD'S

30-DAY
COMMERC1AL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
BAA BONDS

MUNICIPAL
BONDS KK

8.31
8.33
8.38
8.41
8.43
8.55
8.80
9.00
9.22
9.25

8. 10
8.09
8. 13
8. 16
8.22
8.31
8.42
8.46
8.82
9.28

8.12
8.13
8.15
8. 18
8.18
8.34
8.59
8.78
8.94
8.94

9.58
9.54
9.49
9.44
9.39
9.38
9.45
9.52
9.55
9.53

10.45
10.41
10.41
10.39
10.33
10.40
10.49
10.58
10.61
10.60

7.53
7.52
7.45
7.36
7.33
7.44
7.50
7.58
7.66
N. A.

NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.I5 RELEASE.
AVERAGES OF RATES AVAILABLE
** 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

PERCENT

PERCENT
—i 11.0

11.0 i—

TREASURY

N

JRITIES

A

DISCOUNT RATE

2 16 30 19 27 11

OCT

NOV
1987

DEC

25

8 22

JAN

5 10

4 18

FEB

MAR

1

IS 20 13 27 10 24

APR

MAY

8 22

JUN
JUL
1988

5 10

AUG

2 16 30 14 28 II

SEP

OCT

25

NOV

0 23

DEC

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* DECEMBER 0, 1088.

1988
OCT.

7
14
21
28
NOV.
4
11
18
25
DEC.
2
9 X
16
23
30

FEDERAL
FUNDS«

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL WOE*

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.38
8.27
8.27
8.29
8.36
8.31
8.26
8.33
8.44
8.59

7.25
7.31
7.40
7.42
7.38
7.57
7.91
8.01
7.94
7.98

7.46
7.46
7.55
7.54
7.48
7.71
7.87
7.99
8. 13
8.25

7.56
7.51
7.56
7.55
7.53
7.76
7.94
8.06
8. 10
8.20

8.57
8.53
8.52
8.47
8.44
8.69
8.84
8.99
9.00
8.98

9.01
8.98
8.96
8.95
8.84
9.04
9. 14
9.21
9. 18
9. 10

N0TEl 995^^.1N THE board of governors* h. is release excluding long-term treasury
* AVERAGES^OF ^RATES^AVAILABIE°MP UTED BY TH,S BANK*
TREASURY BILL YIELDS ARE ON A DISCOUNTBASIS.

SflBRWMBttfJXJSIS


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Federal Reserve Bank of St. Louis

E'°'N0 ™°MYS EARLIER THAN 0ATE SW"N
PREPARED BY FEDERAL RESERVE BAM< OF ST. LOUIS

7

8

MONEY STOCK C M2 )

AVERAGES OF DAILY FIGURES
SEASONALLY mDJUSTED

BILLIONS OF DOLLARS
3075

BILLIONS OF DOLLARS
3075

3000

2975

2950

2925

2925

2900

5 19

2

10 30 DEC 20 JAN 23
14
11

8 22

7 21

4 18

2 16 30 JUN 27 JUL 25
13
11

LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 28,

8 22

5 19

3 17 31 NOV 28 DEC 26
14
12

1988

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' 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, MONEY MARKET DEPOSIT ACCOUNTS, SAVINGS AND
SMALL TIME DEPOSIT! . AND GENERAL PURPOSE AND‘BROKER/DEALER MONEY MARKET MUTUAL FUN6S.
FOR MORE
DETAIL, SEE THE H.
RELEASE.

MONEY STOCK (M2)
COMPOUNDED ANNUAL RATES OF CHANGE,
l/30/87

2/29/88

4/25/88

5/30/88

AVERAGE OF FOUR WEEKS ENDING*

6/27/88

7/25/88

8/29/88

9/26/88

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
4/25/88
5/30/88
6/27/88
7/25/88
8/29/88
9/28/88
10/31/88
11/28/S8

3

8. 1
7.5
7.3
6.8
6.3
5.9
5.3
5.4


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

7.8
7.4
6.7
5.9
5.3
4.6
4.8

5.2
4.8
4. 1
3.8
3. 1
3.6

4.8
3.9
3.5
2.8
3.4

3.0
2.7
2.1
2.9

2.3
1.6
2.7

1.2
2.8

3.2

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

ALL DEPOSITORY INSTITUTIONS
TOTAL TIME DEPOSITS^
LARGE TIME DEPOSITS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
2000 f-------- 1------------- r—
COMPOUND!
OF CH>
wr
THE iinwioc. A¥|
FOUR ifcEEKJ

BILLIONS OF DOLLARS

-------- ---- 2000

RATE8

ENDING*.
— TOTAL TIME DEPOS
10.4
MAY
FEB.

30I
29

1SS&
NOV.

BILLIONS
7

1974.
1975.

1-LL.I 1 111 I I I I I I I I
LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 2B,

1988

BILLIONS OF DOLLARS

ISSft
OCT.

BILLIONS OF DOLLARS
------ ---------------------- 540

aiLLIONS

24

LARGE TIME DEPOSITS

s 18

2 16 90 14 29 II
DEC
JAN

• 22

7 21
MAR

4 II
APR

2 10 90 19 27 11 25

• 22

5 19

9 17 91

M 28 12 20
NOV
DEC

LATEST DATA PLOTTED WEEK ENDING* NOVEMBER 28, 1988
1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF (100,000 OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
4.5 r-------- 1---------- 1-------1M

BILLIONS OF DOLLARS
—------------- -------- Zl

MILLIONS.
TOTAL BORROWINGS
IS

3500

23

2757

7

2016

I II I
LATEST DATA PLOTTED WEEK ENDINGt DECEMBER 7,

1988
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
2.5 ---------- --------------------

1988

MILLIONS

ADJUSTMENT + SEASONAL
BORROWINGS

7 21

4 18

OCT

NOV
1987

2 16 30 19 27

DEC

JAN

10 24

FEB

S 23

MAR

6 20

4 18

APR

MAY

1

15 20 13 27 10 24

JUN
JUL
1988

AUG

7 21

5 19

SEP

OCT

2

16 30 14 28

NOV

DEC

LATEST DATA PLOTTED WEEK ENDINGt DECEMBER 7, 1988


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
BILLIONS OF DOLLARS
105

V ■v/'

r~\
i •

-

r' \
85

/v
A

OCT

Y---/
A

A

,A,

V

r‘

A

*m

mil

97,25<
96,36<
95,69!
97.24<
97,64!
97 852

-

'

mil

- OCT. 26
- NOV. 2
9
16
L23
_
30

BILLIONS OF DOLLARS
105

11111

- 1888.
100

NOT SEASONALLY ADJUSTED

—
mums.

/

85
-

N\

> >*

111 J..I LL 111

111 .mi

111 J i i

NOV
1987

FEB

APR

DEC

JAN

MAR

mi

MAY

JUN

111

JUL
1988

1111 .in .m. 1111
AUG

7 21
SEP

S 19
OCT

iu:

2 16 30 14 26
NOV
DEC

LATEST DATA PLOTTED WEEK ENDING? NOVEMBER 30, 1988
* DASHED LINE REPRESENTS DATA USING A NEW REPORTING PANEL AND IS NOT COMPARABLE TO PREVIOUS DATA.

BUSINESS LOANS u

( COMMERCIAL AND INDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SfcASUNALLT ADJUS I ED

BILLIONS OF DOLLARS
305 ---------- 1---------- ,-------“ COMP!

ILL IONS OF DOLLARS

_ ANNUAL RATES

r the’foW*eekIRending
“ NOVEMBER 23, *................. ..
_ THE FOUR WEEK
- SEP. 21,
_ AUG. 24,
JUL. 20,
- JUN. 22,
wmi
FEB. 24,
“ NOV. 25,

1988
1988
1988
1988
iwo
1988
1987

-1.6

MILLIONS
OCT. 19
NOV.

2

300,320
300,308

7 2!
OCT

4 16
NOV

2 16 30 13 27 10 24
JAN
FEB

9 23

6 20
APR

4 16
MAY

LATEST DATA PLOTTED WEEK ENDING? NOVEMBER 23.

1

Hill
111 1.L.I I
19 29 13 27 10 24 7 21
5 19 2 10 30 14 28

1988

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

11

DOLLAR'S TRADE-WEIGHTED EXCHANGE
AVERAGES OF DAILY FIGURES

INDEX
1973-100
110

93.4
91 .8

JAN

FEB

APR

MAY

SEP

OCT

LATEST DATA PLOTTED WEEK ENDING* DECEMBER 7, 1988
NOTE*

CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR'S H.IO RELEASE.

DATA ARE WEIGHTED AVERAGES OF THE FOREIGN-CURRENCY PRICE OF THE U.S. DOLLAR, COMPUTED USING
10 INDUSTRIAL COUNTRY CURRENCIES.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS