Full text of U.S. Financial Data : February 15, 2001

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February 15, 2001

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HUGHTS:
■ Prices o f goods imported into the U.S. fell 0.4 percent in January, as
a 5 percent drop in petroleum prices more than offset a 0.3 percent
rise in non-petroleum prices. Import prices have declined in three o f
the last four months and are up only 2.3 percent from a year earlier.

■ Initial claims fo r state unemployment insurance benefits totaled
352,000 fo r the week ending Feb. 10. Measured on a four-week
moving-average basis, claims totaled 345,000, down 1.4 percent
from four weeks earlier, but up 21.7 percent from a year earlier.

■ In December, the nominal value o f inventories held by manufacturers,
wholesalers and retailers (total business) increased $1.3 billion,
or 0.1 percent. December’s increase was the smallest in percentage
terms since January 1999. Although business sales increased
0.1 percent in December, sales fell 0.4 percent during the fourth
quarter, the first decline since the fourth quarter o f 1991. The
business inventory-to-sales ratio measured 1.36 during the fourth
quarter, the highest level in seven quarters.

■ After rising just 0.1 percent during the fourth quarter o f 2000, the
value o f retail sales measured in current dollars rose 0.7 percent
in January. Excluding automotive sales, retailers’ sales increased
0 .8 percent in January, the largest gain in 10 months. January’s
retail sales were up 3.5 percent from a year earlier.

All data are seasonally adjusted unless otherwise indicated.
U.S. Financial Data is published weekly by the Research Division of the Federal Reserve Bank of
St. Louis. For more information on data, please call (314) 444-8590. To be added to the mailing
list, please call (314) 444-8808 or (314) 444-8809.
Information in this publication is also included in the Federal Reserve Economic Data (FRED) electronic
bulletin board at (314) 621-1824 or internet World Wide Web server at www.stls.frb.org/fred.




2
Adjusted Monetary Base
Averages o f Daily Figures

The a d ju s te d m o n e ta ry b a se is th e s u m o f F ederal Reserve d e p o s its and v a u lt ca sh held by d o m e s tic d e p o s ito ry
in s titu tio n s , c u rre n c y h eld by th e p u b lic , and an a d ju s tm e n t f o r th e e ffe c t o f ch a n g e s in reserve re q u ire m e n t
ra tio s . The m o n e ta ry b ase se rie s in c lu d e s F ederal Reserve d e p o s its used to s a tis fy c le a rin g b a la n ce c o n tra c ts .
D ata a re c o m p u te d b y th is b ank. A d e ta ile d d e s c rip tio n o f th e a d ju s te d m o n e ta ry base is ava ila b le fro m th is
b a n k.

R e ce n t d a ta a re p re lim in a ry .

Adjusted Monetary Base
C o m p o u n d e d a n n u a l ra te s o f c h a n g e , a v e ra g e o f tw o m a in te n a n c e p e rio d s e n d in g :
lo th e a v e r a g e o f
tw o m a in t e n a n c e
p e r io d s e n d in g :

2 /9 /0 0

5 /3 /0 0

7 /1 2 /0 0

8 /9 /0 0

9 /6 /0 0

1 0 /4 /0 0

1 1 /1 /0 0

7 /1 2 /0 0

-3 .8

8 /9 /0 0

-2 .5

4 .0

9 /6 /0 0

-2 .0

3 .4

3 .0

1 0 /4 /0 0

-1 .2

3 .8

3 .8

3 .4

1 1 /1 /0 0

-0 .7

3 .7

3 .7

3 .3

4 .4

1 2 /1 3 /0 0

-0 .2

3 .6

3 .6

3 .3

3.9

1 /1 0 /0 1

0 .4

4 .0

4.1

4 .0

4.6

4 .3

4 .7

2 /7 /0 1

1.7

5 .4

6 .0

6.2

7.1

7.5

8 .7




1 2 /1 3 /0 0

3 .3

13 .0

P re p a re d by Federal R eserve Bank o f St. Louis

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Money Zero Maturity (MZM)
Averages of Daily Figures
Seasonally A djusted

Billions of Dollars

Billions of Dollars

MZM is M2 (s e a s o n a lly a d ju s te d ) m in u s to ta l sm a ll d e n o m in a tio n tim e d e p o s its (s e a s o n a lly a d ju s te d ), plus in s titu tio n a l
m o n e y fu n d s (s e a s o n a lly a d ju s te d ), w hich a re inclu d e d in th e n o n —M2 c o m p o n e n t o f M3.

Money Zero Maturity (MZM)
C o m p o u n d e d a n n u a l ra te s o f c h a n g e , a v e ra g e o f f o u r w e e k s e n d in g :
To th e a v e ra g e
o f fo u r w eeks
e n d in g :

2 /7 /0 0

5 /8 /0 0

7 /3 /0 0

8 /7 /0 0

9 /4 /0 0

1 0 /2 /0 0

1 1 /6 /0 0

7 /3 /0 0

6 .8

8 /7 /0 0

7 .4

6.9

9 /4 /0 0

7.6

7 .4

9 .7

1 0 /2 /0 0

8 .4

8 .6

11.0

11.5

1 1 /6 /0 0

7.9

7.9

9.2

8.9

1 2 /4 /0 0

7 .8

7.7

8.8

8 .3

8.1

1 /8 /0 1

8 .5

8 .7

9.9

9.9

10 .0

8 .9

11.3

2 /5 /0 1

9 .7

10 .3

11.7

12.0

12 .5

1 2 .2

1 5.2




1 2 /4 /0 0

8 .8
5 .7

19.2

P r e p a re d by F e d e ra l R e s e rv e B a n k o f S t. L o u is

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4
Adjusted Reserves
Seasonally A djusted

A d ju s te d re se rve s is th e d iffe re n c e betw een th e a d ju s te d m o n e ta ry base and th e c u rre n c y c o m p o n e n t o f M1.

Adjusted Reserves
C o m p o u n d e d a n n u a l r a te s o f c h a n g e , a v e ra g e o f tw o m a in te n a n c e p e rio d s e n d in g :
lo th e a v e r a g e o t
tw o m a in te n a n c e
p e r io d s e n d in g :

2 /9 /0 0

5 /3 /0 0

7 /1 2 /0 0

8 /9 /0 0

9 /6 /0 0

1 0 /4 /0 0

1 1 /1 /0 0

7 /1 2 /0 0

-2 0 .6

8 /9 /0 0

- 1 8 .1

9 /6 /0 0

-1 5 .6

1.6

1 0 /4 /0 0

-1 2 .7

3 .5

3.9

7 .6

1 1 /1 /0 0

-1 3 .0

0 .3

-1 .4

-0 .8

1 2 /1 3 /0 0

-9 .7

2 .7

2.6

3.9

4.2

1.0

1 /1 0 /0 1

-9 .0

2 .4

2.1

3.1

3.1

0 .6

8 .0

2 /7 /0 1

- 5 .1

6.8

8.1

9.9

11.2

11.0

2 0 .0




1 2 /1 3 /0 0

1.3
-0 .2

-2 .6

2 4 .8

P re p a re d by F ederal R eserve B ank o f St. Louis

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Money Stock(M1) and Total Checkable Deposits
Averages of Daily Figures

M1 is th e s u m o f c u rre n c y held by th e n o n b a n k p u b lic, to ta l c h e c ka b le d e p o s its and tra v e le rs checks.
T o ta l c h e c k a b le d e p o s its is th e s u m o f dem a n d d e p o s its and o th e r c h e c ka b le d e p o s its a t d e p o s ito ry in s titu tio n s ,
in s titu tio n s . C u rre n t d a ta a p p e a r in th e Federal R esej^e B o a rd 's H.6 release.

Currency Component of M1
Averages of Daily Figures

Billions of Dollars

S e a s o n a lly A d ju s te d

Billions of Dollars

C u rre n t d a ta a p p e a r in th e F e deral Reserve B o a rd 's H.6 release.




P repared by Federal R eserve Bank o f St. Louis

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6
Yields on Selected Securities
Averages o f Daily Figures
10.0

9.0

8.0

7.0

6.0

5.0

4.0

2 0 0 0 /2 0 0 1
Nov
Dec

Jan

Feb

24
1
8
15
22
29
5
12
19
26
2
9
16

3 0 -D a y
C o m m e r c ia l
Paper

9 0 -D a y
CDs

9 0 -D a y
E u ro
D o lla rs

C o rp o ra te
Aaa B onds

C o r p o r a te
Baa B onds

6 .5 0
6.51
6 .5 2
6 .5 3
6.51
6 .4 5
6 .1 2
5 .7 3
5 .7 4
5 .6 0
5 .4 4
5 .4 3
5 .4 3

6 .6 5
6 .6 3
6 .5 4
6 .4 9
6 .4 0
6 .3 2
5 .9 6
5 .5 8
5 .6 2
5 .5 2
5 .3 8
5 .3 3
5 .3 0

6 .6 4
6 .6 2
6 .5 2
6 .4 7
6 .3 9
6.31
5 .9 6
5 .5 7
5.61
5.51
5 .3 7
5 .3 3
5.31

7.41
7 .3 7
7 .2 9
7.21
7 .1 6
7 .1 5
7 .0 9
7 .1 3
7 .1 4
7.21
7 .1 3
7 .1 2
7 .1 2

8 .2 7
8 .1 9
8 .1 0
8 .0 3
7 .9 5
7 .9 7
7 .9 4
7 .9 5
7 .9 0
7 .9 5
7 .8 4
7 .8 3
7 .8 8

M u n ic ip a l
Bonds **
5 .5 5
5 .4 6
5 .3 4
5 .2 5
5 .1 6
5 .1 4
5 .0 9
5 .0 0
5 .1 0
5 .2 0
5 .1 5
5 .1 5
N.A.

C u rre n t d a ta a re fr o m th e Federal R eserve B o a rd 's H .1 5 re le a se , and o re a v e ra g e s o f ra te s a v a ila b le f o r th e week
e n d in g on F e b ru a ry 16, 2 0 0 1 . B e ginning S e p te m b e r 2, 1 9 9 7 , th e c o m m e rc ia l p a p e r ra te re fle c ts new s o u rc e d a ta .
*» Bond B u y e r's A ve ra g e Index o f 2 0 m u n ic ip a l b o n d s, T h u rsd a y d a ta




P re p a re d by Federal Reserve B ank o f St. Louis

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Selected Interest Rates
Averages o f Daily Figures
8.00

P e rc en t

Percent

8.00

7 .00

6.00

6.00

5 .0 0

5.0 0

4.0 0

2 0 0 0 /2 0 0 1
Nov
Dec

Ja n

Feb

24
1
8
15
22
29
5
12
19
26
2
9
16 *

F e d e ra l
F u n d s «*
6 .5 2
6.51
6 .5 7
6 .4 7
6 .5 3
6 .4 8
5 .8 9
5.91
6 .0 2
5 .9 6
5 .9 4
5.51
5 .4 7

3 —M o n th
T re a s u ry
B ill

1 —Y e a r
T re a s u ry
B ill

5 -Y e a r
T re a s u ry
S e c u ritie s

1 0 -Y e a r
T re a s u ry
S e c u ritie s

3 0 —Y e a r
T re a s u ry
S e c u ritie s

6 .1 8
6 .0 8
5 .9 4

5 .8 7
5.71
5 .4 7
5 .4 4

5 .6 3
5 .5 2
5 .3 3
5 .2 5
5 .0 2
4 .9 8
4 .8 0
4.81
4 .8 5
4 .9 4
4 .8 7
4 .9 0
4 .9 2

5 .6 5
5 .5 6
5 .3 9
5 .2 9
5 .1 0
5 .1 0
5.01
5 .0 8
5 .1 9
5 .2 9
5 .2 0
5 .1 3
5 .0 8

5.71
5 .6 6
5 .5 7
5 .4 9

5 .8 9
5.51
5 .6 6
5 .3 6
5 .1 3
5 .1 7
5.11
4.91
4 .9 4
4 .9 3

5 .1 8
5.11
4.71
4 .6 0
4 .6 7
4 .6 4
4 .4 7
4 .5 4
4 .5 9

5 .4 3
5 .4 4
5 .4 2
5 .5 0
5 .5 4
5 .6 4
5 .5 6
5 .4 7
5 .4 3

C u rre n t d a ta a p p e a r in th e F ederal R eserve B o a rd 's H .1 5 rele a se , e x c e p t fo r th e fe d e ra l fu n d s ta rg e t ra te .
« A ve ra g e s o f ra te s a v a ila b le
* * S e v e n - d a y a v e ra g e s f o r week e n d in g tw o days e a rlie r th a n d a te show n




P re p a re d by Federal R eserve Bank o f S t. Louis

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8
Money Stock(M2) and Money Zero Maturity
Averages of Daily Figures

M2 is th e s u m o f M1, sa v in g s (in c lu d in g m oney m a rk e t d e p o s it a c c o u n ts ), s m a ll tim e d e p o s its and re ta il m oney
fu n d s . C u rre n t d a ta a p p e a r in th e Federal Reserve B o a rd 's H .6 release.

Money Stock (M2)
C o m p o u n d e d a n n u a l ra te s o f c h a n g e , a v e ra g e o f f o u r w e e k s e n d in g :
T o th e a v e ra g e
o f fo u r w eeks
e n d in g :

2 /7 /0 0

5 /8 /0 0

7 /3 /0 0

8 /7 /0 0

9 /4 /0 0

1 0 /2 /0 0

1 1 /6 /0 0

7 /3 /0 0

5 .8

8 /7 /0 0

5 .7

4.6

9 /4 /0 0

6 .0

5.2

6.4

1 0 /2 /0 0

6 .4

6.0

7 .4

1 1 /6 /0 0

6.1

5 .7

6 .6

6.9

1 2 /4 /0 0

6.1

5.7

6 .3

6 .5

6.3

1 /8 /0 1

6 .6

6 .5

7 .3

7 .6

7 .7

7 .2

8 .6

2 /5 /0 1

7.1

7.1

8 .0

8 .4

8 .6

8 .4

1 0 .0

1 2 /4 /0 0

8 .4
6.7
4.9

12.1

P re p a re d b y F e d e ra l R e s e rv e B a n k o f S t. L o u is

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Savings and Small Time Deposits
Averages o f Daily Figures
S e a s o n a lly A d ju s te d

Billions of Dollars

Billions of Dollars

1950

Sm all Time
B illio n s
1 0 4 8 .9

1100-

I 900

Savings Deposits (rig h t scale)

850

Sm all Tim e (le ft scale)
1000 -

1800

Savings

750

950 -

700
6

20

3

17 3 1 14 28 13 27

10 24

22

5

1999

19

3

17 31

14 28

1 1 25

9

23

6

20

4

1

2000

1

15 29

12 26

2001

S a vin g s d e p o s its an d s m a ll tim e d e p o s its a re a t all d e p o s ito ry in s titu tio n s .

Large Tim e Deposits and Retail M oney Funds
Averages o f Daily Figures
Billions of Dollars

S e a s o n a lly A d ju s te d

Billions of Dollars
200

Retail Money

Large Time

100

1100-

000

Retail Money
900

800

800-

Large Time
700

600
6

20

3

17 31

14 28

13 27

1999

10 24

22

5

19

3

17 31

2000

14 28

11 25

9

23

6

20

4

1

15 29

12 26

2001

L a rg e tim e d e p o s its an d re ta il m o n e y fu n d s a re a t all d e s p o s ito ry in s titu tio n s . Larg e tim e d e p o s its are th o se
iss u e d in d e n o m in a tio n s o f $ 1 0 0 ,0 0 0 o r m o re . R etoil m o n e y fu n d s w ere o rig in a lly calle d gene ra l pu rp o se
an d b r o k e r /d e a le r m o n e y m a rk e t fu n d s .
P re p a re d by Federal Reserve B ank o f S t. Louis




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Total Borrowings
From Federal Reserve Banks
Billions of Dollars

A v e ra g e s o f Daily Fig u res

1999
2000
B o rro w in g s in c lu d e se a s o n a l, a d ju s tm e n t and exte n d e d cre d it.

Bil|ions of Dollars

] 4

2001

Bank Loans and Credit
All C o m m ercial Banks in the United States
5050

4850

4650

4450

4250

4050

3850

3650

3450

1999

2000

2 001

C u rre n t d a to a p p e a r in th e Fe d e ra l R eserve B o a rd 's H.8 release.
1 / In clu d e s fo re ig n —re la te d in s titu tio n s
2 / In clu d e s lo a n s and le a se s an d se c u ritie s
P repared by Federal Reserve B ank o f St. Louis

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Commercial Paper of Nonfinancial Companies
Not S easonally Adjusted
Billions of Dollars

Billions of Dollars

375

Billions
Jan

Feb

3

7

320.3
328.4
334.0
324.9
315.8
316.0

350

325

300

275

250

2000

1999

2001

C u rre n t d a ta a p p e a r in th e F ederal R eserve B o a rd 's H .15 release.

Commercial and Industrial Loans
S easonally Adjusted
Billions ot Donors

Billions of Dollars

650

All Banks
625

All Banks (le ft sca le) 1 /
600

575

Large Banks (rig h t seal
Large Banks

550

525

500

2000
C u rre n t d a ta a p p e a r in th e F ederal Reserve B o a rd 's H .8 release.
1 / In c lu d e s fo r e ig n —re la te d in s titu tio n s
2 / W eekly re p o rtin g , d o m e s tic a lly c h a rte re d b o n ks




11

200 1

P re p a re d by Federal Reserve B onk o f S t. Louis

Trade-Weighted Exchange Rate Indexes
Averages of Daily Figures

199 9
2000
2001
The m a jo r currency index (MCI) is com prised o f 7 currencies. The broad index is com prised of the m a jo r currency index
plus 19 additional currencies. See the O ctober 1998 issue o f the F e d e r a l R e se rv e B u lle tin fo r fu rth e r details.
Prepared by Federal Reserve Bank o f St. Louis

6 3am
Aavaan
(HSA

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