Full text of U.S. Financial Data : January 14, 1993

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

■JAN 1 9 1993
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THE WEEK'S HIGHLIGHTS:
>/ The yield on three-month Treasury bills averaged 3.02 percent
during the week ending January 15, marking the sixtlt consecutive
weekly decline. Although the yield is 33 basis points higher than
the recent 30-year low reached the week of October 2, 1992, it is
still below the 3.81 percent average of a year earlier.
/

%/ Retail sales rose at a 15 percent annual rate during December and
were up 8 percent from a year earlier. Retail sales data are not
adjusted for inflation.
*/ The producer price index (PPI) for finished goods increased at a 2
percent annual rate during December and was up 1.5 percent from
a year ago.
After declining for three consecutive months, the unemployment
rate for December was unchanged from the revised November fig­
ure of 7.3 percent. The rate was down from 7.7 percent in June and
up slightly from 7.1 percent in December 1991.
Because of the late release of data, next week’s U.S. Financial
Data will be published on Friday, January 22.
Views expressed do not necessarily reflect official positions of the Federal Reserve System.

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 as follows:
One year (50 issues) $21

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must be payable in U.S. dollars and, except for those from Canada, must be drawn on a U.S. bank.
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.


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Federal Reserve Bank of St. Louis

2
Adjusted Monetary Base
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

385

1993

Billions

Oct 28

381.3

- NOV OR
11

383.2
lOR 1-1

23

382.2

25
Dec 9
Jan

6

Billions of Dollars

385.0
382.4
389.5

I 20 4 18 1 15 29 12 26 It 25 8 22 6 20 3 17 1 15 29 12 26 9 23 7 21 4 18 2 16 30 13 27
Nov
Dec
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Jan
1991
1992
1993
Latest data plotted reserve maintenance period ending: January 6, 1993
The adjusted monetary base is the sum of reserve accounts of financial institutigns 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
.. average of, Compounded
annual rates
of change,
periods ending:
To the
,/BK/92 4/1/92
6/10/92
* average
* of two maintenance
7/8/92
8/5/92
9/2/92
9/30/92 11/11/92
two maintenance
periods ending:
6/10/92
7/8/92
8/5/92
9/2/92
9/30/92
11/11/92
12/9/92
1/6/93

9.9
8.2
9.2
9.9
11.0
11.2
10.7
10.4


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Federal Reserve Bank of St. Louis

5.4
7.6
9.0
10.7
11.1
10.4
10.1

7.4
10.0
12.6
12.6
11.4
10.9

15.6
17.3
15.7
13.6
12.7

18.0
15.7
13.2
12.2

15.7
12.5
11.4

9.4
8.9

6.3

Prepared by Federal Reserve Bank of St Louis

Money Stock (Ml) and Toted Checkable Deposits
Averages ot uany Ngures
Seasonally Adjusted

Billions of Dollars

1993

Billions of Dollars

Billions

Nov 30 1020.0
Dec 7 1022.7
14 1021.5
21 1019.7
28 1029.5
Jan 4 1029.1

TCD (right scale)

TCD
_
1993 Billions

(left scale)

4 II
Nov

Nov 30
Dec 7
14
21
28
Jan 4

2 IS 30 13 27 10 24 9 23

5 20 4 18 1 15 29 13 27 10 24 7 21 5 19

Dec

Apr

Jan

Feb

Mar

May

1991

Jun

Jul

Aug

Sep

Oct

720.9
723.0
721.3 __
718.9
726.9
725.9

2 16 30 14 28 11 25
Nov

1992

Dec

Jan

1993

Latest data plotted week ending: January 4, 1993
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:
1/6/92
4/6/92
6/1/92
7/6/92
8/3/92
9/7/92
10/5/92 11/2/92

ending:
8/1/92
7/6/92
8/3/92
9/7/92
10/5/92
11/2/92
12/7/92
1/4/93

15.7
12.0
12.1
13.0
13.9
14.9
14.6
13.9


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Federal Reserve Bank of St. Louis

5.5
7.2
9.6
11.4
13.2
13.0
12.3

4.1
9.0
11.7
14.2
13.7
12.7

15.8
17.7
19.5
17.6
15.8

19.9
21.7
18.7
16.4

23.8
18.9
15.8

17.6
14.0

9.2

Prepared by Federal Reserve Bank of St Louis

3

4
Adjusted Reserves
Billions of Dollars

Seasonally Adjusted

Billions of Dollars

_ 1993
Oct 28

Nov 11
Dec

9

Jan

6

6 20 4 18 1 15 29 12 26
Nov

Dec

Feb

16 30 13 27

25 8 22 6 20 3 17 1 15 29 12 26
Mar

Apr

May

Jun

Jul

Aug

Latest data plotted two weeks ending: January 6. 1993
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
To the average of
two maintenance
periods ending:
6/10/92
7/B/92
8/5/92
9/2/92
9/30/92
11/11/92
12/9/92
1/6/93

Compounded annual rates of change, average of two maintenance periods ending:
8/5/92
9/2/92 9/30/92 11/11/92
6/10/92 7/8/92
1/8/92
4/1/92

20.5
13.7
14.0
14.0
15.7
17.1
15.5
13.6


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Federal Reserve Bank of St. Louis

2.6
5.4
7.0
10.4
13.3
11.6
9.6

-2.2
3.0
9.5
13.9
11.4
8.8

15.1
20.3
22.4
17.6
13.5

22.6
24.2
18.0
13.1

28.5
19.2
12.8

14.5
8.0

-4.1

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier1/
Ratio

seasonally Adjusted

Compounded annual
rates of change,
average of the four
weeks ending
January 4, 1993 from
the four weeks ending:
Jan 6, 1992 3.4
Mar 30, 1992 1.9
Jul 6. 1992 3.2
Aug 3, 1992 3.8
Aug 31, 1992 4.7
Sep 28, 1992 5.6
Nov 9, 1992 3.7

4 IB 2 16 30 13 27 10 24 9 23
Nov Dec Jan
Feb Mar

Ratio
Oct 26

Nov 9
Dec 7
Jan

20 ♦ II 1 IS !) IS s; 10
Apr May Jun
Jul
Aug

1991
Latest data plotted two weeks ending: January 4-, 1993

1992

7 21
Sep

Oct

Nov

4

2.642
2.657
2.647
2.671
2.670
2.643

30 H 28 It 25
Dec Jan
1993

Currency Component of M12/
Billions of Dollars

Billions of Dollars

Seasonally Adjusted

Compounded annual
rates of change,
average of the four
weeks ending
January 4, 1993 from
the four weeks ending:
Jan 6. 1992 9.5
Apr 6. 1992 10.5
Jul 6, 1992 12.4
Aug 3, 1992 12.0
Sep 7. 1992 10.5
Oct 5, 1992 9.4
Nov 2, 1992 9.1

1993

Billions

Dec 7

290.6
291.0
291.5
292.2

Jan

4 It 2
30 13 27 10 24 S 23 6 20 4 18
Nov Dec Jan
Feb Mar Apr May

4

294.0
294.6

IS 29 13 27 10 24 7 21 5 19 2 16 30 14 28 11 25
Jul
Aug Sep Oct Nov Dec Jan

Latest data plotted week ending: January 4. 1993
1/ Ratio of M1 to adjusted monetary base
2/ Current data appear in the Federal Reserve Board's H.6 release.


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

5

6

Yields on Selected Securities

Percent

Percent

Averages of Daily Figures

Bonds

- Loan Rats-

5.0

1 15 2! 13 2/ 10 24 7 21 0 20 3 17 I
Nov Dec Jan
Feb Mar Apr

II 2

12 21 10 24

Sep

li 20

Oct

Latest data plotted are averages of rates available for the week ending: January 15, 1993

1993

90-Day
CDs

30-Day
Commercial
Paper

90-Day
Bankers'
Acceptances

Oct 23
30
Nov 6
13
20
27
Dec 4
11
18
25
Jan
1
8
15 *

3.38
3.39
3.42
3.52
3.68
3.67
3.73
3.54
3.44
3.35
3.34
3.27
3.22

3.27
3.26
3.25
3.28
3.25
3.22
3.70
3.80
3.75
3.62
3.56
3.34
3.23

3.31
3.32
3.35
3.47
3.60
3.60
3.65
3.48
3.42
3.34
3.31
3.21
3.17

Corporate
Aaa Bonds
8.04
8.07
8.11
8.14
8.07
8.06
8.06
8.00
7.99
7.93
7.90
7.92
7.99

Corporate
Baa Bonds

Municipal
Bonds **

8.93
8.96
9.02
9.00
8.91
8.91
8.92
8.82
8.82
8.75
8.75
8.74
8.77

6.53
6.62
6.51
6.38
6.28
6.26
6.28
6.22
6.25
6.19
6.17
6.17
HA.

Current data appear in the Federal Reserve Board's H.15 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


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Federal Reserve Bank of St. Louis

Selected Interest Rates

Percent

Percent

Averages of Daily Figures

1 15 29 13 27 10 24 7 21 6 20 3 17 1 15 29 12 26 10 24 7 21 4 II 2 16 30 13 27
Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov

25 8 22

Latest data plotted are averages of rates available for the week ending: January 15, 1993

1993
Oct 23
30
6
13
20
27
Dec 4
11
18
25
Jan
1
8
15 ♦

Federal
Funds **

3—Month
Treasury
Bill

6-Month
Treasury
Bill ***

3.05
2.96
3.07
2.91
2.97
3.10
3.37
2.94
2.93
2.94
2.86
3.03
2.98

1 —Year
Treasury
Bill

5-Year
Treasury
Securities

Long-Term
Treasury
Securities

2.95
3.10
3.35
5.83
7.35
2.94
3.22
3.36
5.85
7.37
3.03
3.27
3.42
5.96
7.44
3.08
3.31
3.47
6.00
7.41
3.16
3.37
3.56
6.05
7.36
3.24
3.45
3.60
6.12
7.38
3.30
3.46
3.64
6.20
7.41
3.24
3.37
3.55
6.04
7.27
3.21
3.43
3.60
6.10
7.28
3.18
3.32
3.49
6.03
7.19
3.15
3.38
3.46
6.03
7.22
3.09
3.28
3.44
5.95
7.21
3.02
3.19
3.39
5.94
7.28
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
*** Auction average (discount)
Prepared by Federal Reserve Bank of St. Louis
Nov


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Federal Reserve Bank of St. Louis

7

1
8
Money Stock (M2) and Non-M1 Components of M2
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

2630
M2
1993

3500

Billions

Nov 30 3503.2
Dec 7 3510.2
14 3506.4.
21 3499.1
28 3502.9
Jan 4 3495.7

2580
(left scale)

2530

2480

Non-M1 M2 (right scale)

Non-M1 M2
1993

Billions

Nov 30 2483.2
Dec 7 2487.5
14 2484.9
21 2479.4
Jan

2430

4 2466.6

4 18 2 16 30 13 27 10 24 9 23 6 20 4 18 1 15 29 13 27 10 24 7 21 5 19 2 16 30 14 28 11 25
Jul
Aug Sep Oct Nov Dec
Jan
Nov Dec
Jan
Feb Mar Apr May Jun
1992
1993
1991
Latest data plotted week ending: January 4. 1993
Current data appear in the Federal Reserve Board's H.6 release.
M2 is the sum of M1, 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)
To the average

Compounded annual rates of change, average of four weeks ending:
10/5/92 11/2/92
1/6/92
4/6/92
6/1/92
7/6/92
8/3/92
9/7/92

ending:
6/1/92
7/8/92
8/3/92
9/7/92
10/5/92
11/2/92
12/7/92
1/4/93

2.3
1.2
1.1
1.4
1.7
2.1
2.1
1.7


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Federal Reserve Bank of St. Louis

—1.2
-1.0
0.0
0.6
1.3
1.4
1.1

-1.7
0.1
1.0
1.9
1.9
1.4

1.9
2.5
3.4
3.0
2.3

3.7
4.4
3.8
2.7

5.0
3.8
2.5

3.8
2.0

0.2

Prepared by Federal Reserve Bank of St Louis

Savings and Money Market Funds
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Savings
1993 Billions
Nov 30 1181.5
— Dec 7 1185.9 .
14 1189.6
21 1188.7
28 1186.2
Jan 4 1183.6

Money Market (right

Savings Deposits (left scale)

Money Market

1993

Billions

Nov 30
Dec 7
14
21
28
Jan 4

348.9
348.7 —
347.5
347.1
346.0
345.9

4 18 2 16 30 13 27 10 2* 9 23 6 20 4 18 1 15 29 13 27 10 24 7 21 5 19 2 18 30 14 28 11 25
Nov Dec
Feb Mar Apr May Jun
Jul
Aug Sep Oct
Nov Dec Jan
Note: Savings deposits are at all depository institutions. Money market funds are general purpose
and broker/dealer.
.

Large and Small Time Deposits1'
Billions of Dollars

nil ucpuanuiy inBUiUUUiis

Billions of Dollars

Averages of Daily Figures, Seasonally Adjusted

Small Time
1993

Billions

Nov 30
Dec 7
14
21
28
Jan 4

879.7
877.4
874.9
872.8
870.8
868.6

Larae Time (left scale)
Large
1993
-Nov 30
Dec 7
14
21
28
Jan 4

Time
Billions
369.3
368.2
366.9
364.7
364.7
357.6

Small Time (right scale)

4 IB 2 16 30 13 27 10 24 9 23 6 20 4 18
Nov Dec Jan
Feb Mar Apr May

15 29 13 27 10 24 7 21 5 19 2 16 30 14 28 11 25
Jun
Jul
Aug Sep Oct
Nov Dec Jan

Latest data plotted week ending: January 4, 1993
1/ Large time deposits are those 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
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

1993

Billions of Dollars

Billions

-Dec 9
16
23
30
Jan 6
_
13

0.028
0.040
0.080
0.096
0.441
0.046

t 20 4 11 1 IS !) 12 21 11 25 I 22 f 20 J 17 1 15 21 12 21 1 23 2 21 I U
Nov Dec Jan
Feb Mar Apr May Jun
Jui
Aug Sep Oct Nov
1991
1992

2 II 31 13 22
Dec
Jan
1993

Adjustment + Seasonal Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

2.5

2.0

Billions of Dollars

2.5

—I---------I----------1993

Billions

Dec 9

0.028

23
30
Jan 6
13

0
0
0
0

2.0

079
096
441
048

1.5

1.5

1.0

1.0

0.5

0.5

1 20 4 11 1 15 21 12 21 11 25 8 2! 6 21
Nov Dec Jan
Feb Mar Apr May
1991

3 17 1 IS 2) 12 21 ! 23 7 21
Jun
Jul
Aug
Sep Oct
1992

I II 2 11 38 1 3 27
Nov Dec Jan
1993

Latest data plotted week ending: January 13, 1993


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

Billions of Dollars

1993

Commercial Paper of Norrfinancial Companies

Billions of Dollars

Not Seosonolly Adjusted

Billions

Dec 2 150.878
148.877
152.145
145.018
139.728
Jan 6 143.268

6 10 t 1S 1 15 IS 12 IS 11 15
Nov Dec Jan
Feb Mar

I! S ID
Apr May

1991
o

17 I 15 IS 12 IS S I] 7 11
Jun
Jul
Aug Sep Oct

IS I IS }« 15 27
Nov Dec Jan

1992

1993

Latest data plotted week ending: January 6, 1993

Commercial and Industrial Loans17
Billions of Dollars

Weekly Reporting Large Commercial Banks2/
Seasonally Adjusted

Compounded annual
rates of change,
average of the four
weeks ending
December 30, 1992 from
the four weeks ending:
Jan 1. 1992 -4.7
Apr 1. 1992 -5.7
Jul 1, 1992 -2.7
Jul 29, 1992 -0.8
Sep 2. 1992 0.9
Sep 30, 1992 1.0
Oct 28, 1992 -0.1

1992
Nov 25
2
9
6
23
30

6 20 * 18 1 15 29 12 28 II 25 8 22 6 20 3 17 1 15 29 12 26 9 23 7 21
Nov Dec Jan
Feb Mar Apr May Jun
Jul
Aug Sep Oct
1991

Billions of Dollars

1992

Nov

Billions
281.089__
279.992
277.983
278.588
276.184
275.512.

16 30 13 27
Dec Jan
1993

Latest data plotted week ending: December 30, 1992
1/ Commercial and industrial loans include banker's acceptances and commercial paper.
2/Banks with domestic assets greater than $1.4 billion
„
.. _ .
, _
.
*
Prepared by Federal Reserve Bank of St. Louis


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Federal Reserve Bank of St. Louis

11

Dollar's Trade-Weighted Exchange Index
1973=100

Averages of Daily Figures

1993 1973=100

Jan

6

S 20 4 II 1 15 M 12 21 11 25 8 22 6 20 3 17 1 15 2! 12 28 J 23 7 21 4 18 2 II 30 13 27
Nov Dec

Jan

Feb

1991

Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

1992

Nov

Dec

Jan

1993

Latest data plotted week ending: January 13, 1993
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


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Federal Reserve Bank of St. Louis

6