Full text of U.S. Financial Data : January 16, 1986

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)/

RESEARCH LIBRARY
Federal Reserve Bank

It: SMFii lancial Data
JAN 21

January

1986

16,

1986

M2 expanded 8.1 percent in 1985. About 40 percent of this growth rate is
attributable to Ml, with the remainder stemming from the other components
of M2. Within the latter category, money market deposit accounts (MMDAs),
which now represent about one-fourth of the non-Ml portion of M2, exhibited
the largest gain in 1985, increasing by over $90 billion, or at an annual rate
of almost 23 percent. Among other factors influencing the strong growth in
MMDAs was the January 1, 1985, reduction in the minimum balance requirement
on these investments from $2,500 to $1,000. A similar instrument, money market
mutual funds (MMMFs), increased by only about $8 billion, or 5 percent. Savings
deposits, the largest non-Ml component of M2, grew at almost a 6 percent rate,
whereas small time deposits actually fell nearly 1 percent.
Changes in M2 and Selected Components
(billions of dollars, seasonally adjusted)

12/84-12/85

$191.4

MMMFs2

Small
time
deposits

Savings
deposits

$8.3

M2

Total
MMDAs1

$-7.3

$16.3

$93.9

'Not seasonally adjusted
2General purpose and broker/dealer MMMFs, not seasonally adjusted

—Michael T. Belongia

THE

FEDERAL
A RESERVE
afinwKof
OTSLUHIS

Digitized for Views expressed do not necessarily reflect official positions of the Federal Reserve System.
FRASER
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
240 ---------- 1---------- 1------- -

BILLIONS OF DOLLARS
------ -------------------------ZAO

236.3

234.3
235.2
236.8
237.6

7 II

S110

NOV

DEC

2 II 30 IS 27 13 17 10 *4

FEB

MAR

» 22

5 l«

S 17 31

14 M II JS

AUG

APR

NOV

SEP

DEC

LATEST DATA PLOTTED WEEK ENDING. JANUARY IS, 1086
ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
SJBJEa?flWT
HELDBY THE PUBLIC AM) IN THE VAULTS OF ALL
*»-DRE0UiREieiT^RAT!0.CHAN9ESi. IHE.MAJOR
■ FOR
. AN BthI ’irara
;tTon'ofAOuvoilKni i W11
^SSTthis bankh,s
1bas|D!s'avaYla
ITARY
RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING.
1/16/85
4/17/85 B/12/85 7/17/85 8/14/85 9/18/83 I0/18/8S 11/13/85
TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
0/12/85
7/17/85
S/14/85
0/18/85
10/16/85
11/13/85
12/18/85
1/15/86


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

9.4
8.6
7.9
8.5
7.7
7.7
8.0
8.0

9.5
8.0
9.0
7.7
7.7
8.0
8.1

4.4
7.2
5.7
6.0
6.8
7.1

8.4
5.9
6.3
7.2
7.4

7.0
7.2
8.0
8.2

4.0
6.4
6.9

9.1
8.9

9.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )

BILLIONS

of

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

dollars

billions of dollars

623.3
622.5
627.7
628.5

5 IS

S

17 SI

14 28 II

JAN

25 II

FEB

29

8 22

6 20

3 17

MAY

MAR

JUN

13 20 12 26

0 23

7 21

4 18

OCT

1984

I

NOV

2

16 30 13 27

1985

1986

LATEST DATA PLOTTED WEEK ENDING: JANUARY 6, 1986
CURRENT DATA APPEAR IN THE BOARO OF GOVERNORS' H.6 RELEASE.
Ml IS THE SUM OF CURRENCY HELD BY THE NONBANK PUBLIC, DEMAND DEPOSITS, OTHER CHECKABLE
DEPOSITS AM) TRAVELERS CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE

AVERAGE OF FOUR WEEKS ENDING:

1/7/85

4/8/85

6/3/85

7/8/85

8/5/85

10.0
12.0
11 .3
13. 1
12.3
10.9
11.8
11.6

15. 1
13. 1
15.6
M.O
11.7
12.9
12.4

14.5
18.0
15. 1
1 1 .7
13.3
12.7

16.4
12.8
9.1
11.6
11.1

15.6
9.9
12.7
12.0

9/9/85

10/7/85

11/4/85

1.5
8.4
8.5

9.8
9.5

15.0

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/
7/
8/
9/
10/
11/
12/
1/

3/85
8/B5
5/85
9/85
7/85
4/85
9/85
6/86


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BAhK OF ST. LOUIS

3

4
MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK u
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
2.8

1

1

1986

JAN.

2.8

RATIO

6

4

Ml ML LTIPL IER

A

r

/J

/

!!lll

RATIO

1

INI

1 1 1

111

iiii

■ 11

/

111

v
V

rJ
111

ini

V"

7s A

111

11 i.i

ill

111

IIII

•

;

LLL

LATEST DATA PLOTTED WEEK ENDING* JANUARY 6,
BILLIONS OF DOLLARS
174

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES
___OF CHANGE. AVERAGE OF
THE FOUR *EEKS ENDING
- JANUARY 6. 1986 FROM
THE FOUR WEEKS ENDING*
4,
7,
9,
5
8,
8,
7,

— AUG
___JAN.

1985
1985
1985
1985
1985
1985
1985

172

170

7.0
7.3
6.7
7.9
7.7
8.1
7.6

168

166

CURRENCY

IM

B-ILLIONS
170.6

160

170.8
171.0
171.0

158

170.7

llllll 1.1.1111
3

17 31

14

II

JAN

9 19

FEB

23 II

MAR

29

8 22

6 20

3 17

MAY

1984

1

13 29 12 20

1985

9 23

7 21

4

10

2 10 30 13 27

JUN
1986

LATEST DATA PLOTTED WEEK ENDING* JANUARY 6, 1986
1/ RATIO OF MONEY STOCK (Ml I 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

TOTAL CHECKABLE DEPOSITS
BILLIONS

OF

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

DOLLARS

BILLIONS

of dollars

449.9
446.7
445.9
450.9
451.3

S 10

S 17 31

14 28 11

JAN

23 11

FEB

25

8 22

1111

3 17

JUN

1984

1

IS 20 12 26

0 23

7 21

4 18

OCT

8 20

MAY

MAR

NOV

2

16 SO IS 27

1985

1986

LATEST DATA PLOTTED WEEK ENDlNGt JANUARY 6, 1986
TOTAL CHECKABLE DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL
DEPOSITORY INSTITUTIONS.

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING:

1/7/85

4/8/85

6/3/85

7/8/85

8/5/85

9/9/85

11.2
13.8
12.8
15. 1
14, 1
12. 1
13.5
13.2

17.6
14.9
18.2
16.2
13.0
14.8
14.3

16.5
21.2
17.6
12.9
15.3
14.6

19. 1
14.9
9.5
13.2
12.7

18.7
10.5
14.7
13.8

-0.3
9.3
9.4

10/7/85

11/4/85

10.9
10.5

18.8

TO THE AVERAGE
OF FOUR WEEKS
ENDlNGt
6/
7/
8/
9/
10/
11/
12/
1/

3/85
8/85
5/85
9/85
7/85
4/85
9/85
6/86


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

PERCENT
14.0

13.0

CORPORATE
Aaa BONDS

(Cl AL
90 DAY

7.0

I I I I
2

16 30

14 28

DEC
1984

II

JAN

25

8 22

8 22

S 19

3 17 31

14 28 12 28

9 23

6 20

4 18

SEP

JUN
JUL
1985

FEB

OCT

1

IS 29 13 27 10 24

1986

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* JANUARY 17,

90 DAY
CD'S

1986
NOV.

1
8
15

22
29
DEC.

6
13

20
JAN.

27
3

*

G iro —

— -&.-S

10

30-DAY
COMJERC1 AL
PAPER

90-DAY
BANKERS*
ACCEPTANCES

7.82
7.79
7.82
7.80
7.86
7.94
7.81
7.67
7.80
7.74
7.81
7.97

7.77
7.87
7.88
7.79
7.82
7.94
7.85
7.79
7.86
7.89
7.75
7.87

7.71
7.70
7.73
7.72
7.73
7.78
7.67
7.56
7.70
7.65
7.66
7.77

CORPORATE

CORPORATE

Aaa BONDS

Baa BOMDS

10.87
10.67
10.56
10.47
10.43
10.43
10.26
10.05
9.97
9.92
9.95

12.24

10.21

12.12
12.02
1 1 .91
11.85
11.87
11.70
11.43
11.36
11.36
11.37
11.49

1986.

MUNICIPAL
BONDS S8K
8.76
8.68
8.60
8.37
8.51
8.54
8.42
8.38
8.36
8.33
8.04
N. A.

NOTE*
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE.
IK AVERAGES OF RATES AVAILABLE
K» 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 13.0

5-Y
TREASURY SIECURITIES

RATE

TREASl

2

16 30 14 28 II 25

NOV
DEC
1984

JAN

S 22

FEB

0 22

MAR

5 10

APR

3 17 31

MAY

BILL

14 28 12 26

JUN
JUL
1985

0 23

AUG

6 20

4 10

SEP

OCT

1

IS 20 13 27

NOV

DEC

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* JANUARY 17,

1986
NOV.

DEC.

JAN.

1
8
15
22
29
6
13
20
27
3
10
17 *
24
31

10 24

JAN
1986

1986.

FEDERAL
FUNDS KK

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL***

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

7.89
8.30
7.95
8. 13
7.71
8.49
8.03
8.05
8.02
9.55
8.20
7.94

7.20
7.25
7.29
7.23
7.18
7.24
7. 10
7.06
7.02
7.04
7. 13
7.20

7.37
7.30
7.23
7.26
7.26
7.26
7.02
7.01
7.05
7.07
7. 11
7.28

7.41
7.36
7.34
7.30
7.33
7.35
7. 13
7.07
7.09
7.12
7.21
7.36

9.55
9.38
9.30
9.21
9. 17
9. 12
8.76
8.55
8.54
8.50
8.65
8.97

10.48
10.31
10.21
10.08
10.06
10.05
9.74
9.52
9.46
9.44
9.53
9.77

SLSEAMYA^5SffD?«ENDING ™°0AYS EARL,ER THAN DATE ■«"


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
COMMERCIAL BANK
SMALL TIME DEPOSITS 1/
LARGE TIME DEPOSITS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

1986

BILLIONS OF DOLLARS

BILLIONS
382.7
384.6
SMALL TIME DEPOSITS

LATEST DATA PLOTTED WEEK ENDING. JANUARY 6. 1086
BILLIONS OF DOLLARS

BILUONS OF DOLLARS

LARGE TIME DEPOSITS

5 10

3 17 31

14 26 II

JAN

FEB

23 11 28

6 22

6 20

1

13

12 26

0 23

7 21

4 16

OCT

3 17

MAR

NOV

2 IS 30 IS 27

1986
LATEST DATA PLOTTED WEEK ENDING. JANUARY 6. 1086
1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BAMC OF ST. LOUIS

COMMERCIAL BANK
TOTAL TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

ILL IONS OF DOLLARS
800

BILLIONS
788.4
790.5
790.8
789.7
789.4
797.1

795

785

775

765

5 19

9 17 91

14 28 II

JAN

25 II

FEB

25

8 22

8 20

9 17

1

IS 29 12 28

9 29

7 21

4 18

OCT

MAR

1984

NOV

2

16 90 19 27

1985

LATEST DATA PLOTTED WEEK ENDING. JANUARY 6, 1986
TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS. SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE . AVERAGE OF FOUR WEEKS ENDING;
1/7/85

4/8/85

6/3/85

7/8/85

-3.9
-2.4
0. 1
0.6
1.5
2.1

-2.0
1.4
1.8
2.5
3.1

8/5/85

9/9/85

10/7/85

11/4/85

4.2
3.9
4.2
4.6

6.2
5.8
5.9

4.2
4.9

5.7

TO THE AVERAGE
OF FOUR WEEKS
ENDING.
6/
7/
8/
9/
10/
11/
12/
1/

3/85
8/85
5/85
9/85
7/85
4/85
9/85
6/86

2.9
1.7
0.8
0.7
1.6
1.7
2. 1
2.4


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Federal Reserve Bank of St. Louis

2.4
0.7
0.6
1.9
2.0
2.5
2.9

PREPARED BY FEDERAL RESERVE BAhK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
1086

---1----- 1------

8.0

MILLIONS

18

1001

1
8

1727
612

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGi JANUARY 15. 1086
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

ADJUSTMENT + SEASONAL BORROWINGS

7 21

5 10

NOV

DEC

2 16 90 13 27 13 27 10 24

JAN

FEB

MAR

APR

6 22

MAY

1084

LATEST DATA PLOTTED WEEK END INGt JANUARY 15.

8 10

JUN

3 17 31

JUL

14 20 11

AUG

SEP

28

0 23

OCT

6 20

4 10

NOV

DEC

1

18 20

JAN

1085

1086

1/ 83.767 FOR 11/27/85


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MMDAS, MMMFS AND SUPER NOWS
(BILLIONS OF DOLLARS, NOT SEASONALLY ADJUSTED)

MMDAs 1/
November

*328.4
329.4
330.0
330.4
331.8
332.5
332.1
332.9
336.9

11
18
25
2
9
16
23
30
6

December

January

MMMFs 2/

Super NOWs 3/

*240.5
239.6
242.1
241.0
241.0
240.6
240.6
239.3
236.6

*62.5
62.5
61.9
62.8
64.1
63.8
63.9
63.6
66.3

1/ Money market deposit accounts at commercial banks
2/ Total money market mutual fund balances
3/ NOW accounts at all depository institutions

BUSINESS LOANS u

(COMMERCIAL AND

INDUSTRIAL)

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES
wr Mnnnuc, eeks enoing
the four W nvtnrtuc ur
t
. i woo r hum
THE FOUR i *EEKS ENDING)

OCT. 30,
OCT. 2,
4,
JUL.
APR.
_ JAN.

3,
3,
2,

1985
1985
1985
1985
1985
1985

-1.0

MILLIONS
NOV. 27
DEC. 4

255,634
253,612

7 2\

S 19

NOV

DEC

2 16 90 13 27 13 27 10 24

FEB

MAR

6 22

5 19

3 17 31

APR

14 28 11

AUG

25

SEP

1-Ll-l 1 1 I I I 1 1 I I I I I I
9 23

6 20

4 18

NOV

DEC

1

15

LATEST DATA PLOTTED WEEK ENDING? JANUARY I, 1986
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