Full text of U.S. Financial Data : January 23, 1987

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RESEARCH library

Federal hosarva<4cftriki
of *LiL2>. 1 &nariciial
JAN 2 7 198?

]Da ta

January 23, 1987

Beginning with this issue, the seasonal factors for the adjusted monetary base
have been revised for the period since February 1984. The primary impact of
this change is to reduce the variability of the adjusted monetary base series,
in particular during 1985. For example, the standard deviation of the monthto-month changes in 1985 decreased from $.68 billion with the old series to
$.37 billion with the revised series. In addition, during 1986, the old adjusted
monetary base series grew at a rate of 7.4 percent during the first half of the
year and increased to a 9.5 percent growth rate in the second half. The revised
series indicates a smoother acceleration in base growth throughout the year,
as the table below indicates.
Growth Rates of the Adjusted Monetary Base
(compounded annual rates, seasonally adjusted)
Period
IV/1985-1/1986
1/1986-11/1986
11/1986-111/1986
III/ 1986-IV/1986

Old
7.2%
7.6
9.6
9.4

Revised
7.2%
8.3
8.7
9.7
—Richard G. Sheehan

expressed do not necessarily reflect official positions of the Federal Reserve System.
Digitized forviews
FRASER
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Federal Reserve Bank of St. Louis

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

1987
NOV.
DEC.

BILLIONS OF DOLLARS
262

BILLIONS
5
19
3

252.4
253.0
253.9

258

246

242

238

234

6 20
NOV

4 16
DEC

IS 29 12 28 12 26
FEB
MAR

9 23

7 21
MAY

4 18
JUN

2 16 30 IS 27 10 24
AUG
SEP

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING; JANUARY 14.
DJUSTED MONETARY BASE IS THE SUM .OF
CIRCULATI

ACCOUNTS OF
D BY THE
ARY B

A UtlAIL

8 22

8 19

3 17 31

14 28

1987
INANCIAL INSTITUTIONS AT FEDERAL
IBLIC AND IN THE VAULTS OF ALL

!

UNUf*

RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING
1/15/86

4/9/86

6/18/86

7/16/86

7.4
8.8
7.0
8.9
9. 1
9.9

10.2
7.3
9.6
9.6
10.5

8/13/86

9/10/86

10/8/86 11/19/86

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING;
6/18/86
7/16/86
8/13/86
9/10/86
10/ 8/86
11/19/86
12/17/86
1/14/87

8.2
7.9
8.0
8.4

7.7
8.6

8.7
9.2


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Federal Reserve Bank of St. Louis

8.0
8.2

e.a

7.6
8.9
9.0
9.6

6.5
9.8
9.8
10.8

9. 1
9.3
10.6

12.5
13.3

12.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK ( Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
770 ---------- 1------------- ,-----

BILLIONS OF DOLLARS
------ ------------------------- 770

BILLIONS
721.0
722.3
731.1
741.6
749.3
734.4

4 It

2 It 90 19 27 10 24 10 24
JAN
FEB

7 21
APR

9 10
MAY

2 10 90 14
JUL

LATEST DATA PLOTTED WEEK ENDING: JANUARY 12,

II 29
AUG

8 22

0 20
OCT

9 17
NOV

1

19 29 12 26

1087

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.8 RELEASE.
DEPolITSEANDMTRAVELEr1NCHECKSD BY ^ N0NBANK PUBLIC' DEMAND DEPOSITS, OTHER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING:
1/13/86

4/14/86

6/9/86

7/14/86

8/11/86

0/15/86 10/13/86 11/10/86

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/ 9/86
7/14/86
8/11/86
0/15/86
10/13/86
11/10/86
12/15/86
1/12/87

14.2
13.9
14.7
15.4
14.8
15. 1
15.8
17.7


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Federal Reserve Bank of St. Louis

19.0
19.2
19.4
17.7
17.9
18.4
20.7

16.1
17.4
15.5
16.1
17. 1
20.1

19.9
16.4
17.0
18.1
21.6

14.9
16. I
17.7
21.9

13.9
16.9
22.5

20.6
26.9

30.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
1987
NOV.

RATIO
3.0

RATIO
3

2.786

— DEC.

2.9

Ml MULTIPLIER

2.8

2.7

4 II 2 16 90 IS 27 10 24 10 24
NOV
DEC
JAN
FEB
MAR
1985

7 2!
APR

8 10
MAY

2 10 SO 14 20 11 28 • 22
JUN
AUG
SEP
1988

6 20
OCT

3 17
NOV

I 18 20 12 26
DEC
JAN
1987

LATEST DATA PLOTTED TWO WEEKS ENDINOt JANUARY 12, 1987
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR *EEKS ENDING
JANUARY 12. 1987 FROM
THE FOUR W&EKS ENDING: .
NOV.

_

10,

1986

184

10.3

JAN

CURRENCY

13SL BILLIONS.
—

1 I 1 1 1 1 I
4 16

2 16 SO 13 27 10 24 10 24
JAN
FEB

7 21
APR

8 16
MAY

2 16 SO 14 26 II 28
JUL
AUG

6 22

6 20
DEC

JAN

LATEST DATA PLOTTED WEEK ENDING: JANUARY 12, 1967
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 BAM< OF ST. LOUIS

172

TOTAL CHECKABLE DEPOSI TS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
575
1
11

555

iSfil

billions

-

20
5
12

550. 3
557. i
542.

-

1111

r

555

:

TTTT TTTT

1111

/V-

1

J

555

1

552.2
553.1

1

8
15

1

_ DEC.
_
JAN.

BILLIONS OF DOLLARS
575

1

1

1

1

1111

\

405

455

*ii i
i

111

NOV
DEC
1085

111

111

1111

111

111

JAN

FEB

MAR

APR

MAY

1111

LATEST DATA PLOTTED WEEK ENDING. JANUARY 12.

111
14
JUN
JUL
1986

in i i I i
11 29 • 22
AUG
SEP

111 . j 11
6 20 9 17
OCT
NOV

III! ±ul
I 19 20 12
DEC
JAN
1087

1987

D?POSITORY^NSTITUT?ONSS 18 THE SUW ^ DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOWCED ANNUAL RATES OF CHANGE ,
1/13/86

4/14/86

6/9/86

7/14/86

AVERAGE OF FOUR WEEKS ENDING!

8/11/86

9/15/86 10/13/86 11/10/86

TO THE
endi
SI?AVERAGE
“

6/ 0/86
7/14/86
8/11/86
9/15/86
10/13/86
11/10/86
12/15/86
1/12/87

16.7
16.5
17.6
18.6
17.6
IS. 1
19. 1
21.5


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Federal Reserve Bank of St. Louis

24.0
24. 1
24.2
21.9
22.0
22.9
25.8

19.6
21.4
18.7
19.4
21 .0
24.9

24.6
19.8
20.5
22.2
26.7

17.7
19.3
21.7
27.1

16.0
20.6
27.8

25.9
34.0

39.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

PERCENT

12.0

11.0

9.0
MUNIS.

I

I I I I
IS M 15 27 10 24

7 21
FEB

7 21
MAR

4 10
APR

2 IS 90 19 27 II 28
JUN
JUL

8 22

8 19

9 17 91

14 28 12 28
NOV
DEC

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JANUARY 23,

1987
NOV.

7
14
21
26
DEC.
5
12
19
26
JAN.
2
9
16
23 X
30

90 DAY
CD'S

30-DAY
COMMERC1AL
PAPER

BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

5.69
5.81
5.80
5.76
5.83
5.88
6.08
6.27
6.22
5.90
5.85
5.61

5.77
5.83
5.87
5.88
6.02
6.03
6.59
7.39
7.31
6.01
5.90
5.88

5.61
5.73
5.71
5.72
5.75
5.84
6.04
6.24
6.10
5.74
5.73
5.69

8.73
8.77
8.65
8.55
8.52
8.48
8.51
8.47
8.49
8.40
8.33
8.33

HMSMS mUS

the board

CORPORATE
Baa BONDS
10.09
10.12
10.04
9.99
9.98
9.97
9.97
9.98
9.97
9.82
9.70
9.66

8 29

1987.

MUNICIPAL
BONDS KK
6.94
6.92
6.78
6.74
6.77
6.94
6.92
6.83
6.85
6.70
6.65
N. A.

* 80VERN0RV H-'5 RELE*SE-

** BOM) 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
II.0 r-

PERCENT
—i 11.0

ITIES

DISCOUNT RATE

1 IS 29 IS 27 to 24
NOV
DEC
JAN
1985

7 21
FEB

7 21
MAR

4 19
APR

I I I I
2 IS SO IS 27 II 2S • 22
MAY
JUN
JUL
AUG
1986

S 19
SEP

9 17 SI 14 29 12 20 9 23
OCT
NOV
DEC
JAN
1987

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE REEK END I NO■ JANUARY 23,

1987
NOV.

7
14
21
28
DEC.
5
12
19
26
JAN.
2
9
16
23 *
30

FEDERAL
FUNDS MM

3-MONTH
TREASURY
BILL

6.02
5.98
6. 13
6.00
6.25
5.97
6.30
6.31
9.20
7.62
6.01
6.01

5.26
5.41
5.36
5.39
5.42
5.49
5.57
5.56
5.65
5.46
5.35
5.31

MHy
bill

mm

5.30
5.54
5.44
5.39
5.46
5.50
5.50
5.56
5.68
5.55
5.43
5.27

1987.

J-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

SECURITIES

5.45
5.56
5.47
5.45
5.47
5.51
5.57
5.59
5.64
5.49
5.45
5.37

6.76
6.05
6.75
6.66
6.61
6.62
6.68
6.69
6.79
6.63
6.63
6.57

7.88
7.95
7.75
7.72
7.65
7.68
7.7 6
7.63
7.76
7.58
7.60
7.53

Lt»T

NOTEi CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 RELEASE EXCLUDING LONG-TERM TREASURY
R AVERaHsUOFTRATESHAVAILABLE°MPUTE° BY ™IS
TREASURY BILL Y1ELDS ARE ON A DISCOUNT BASIS.
«« SEVEN-DAY AVERAGES FOR WEEK ENDING TWO DAYS EARLIER THAN DATE SHORN
*** AUCTION AVERAGE (DISCOUNT)


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
a

COMMERCIAL BANK
SMALL TIME DEPOSITS^
LARGE TIME DEPOSITS 2/
BILLIONS OF DOLLARS

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

billions of dollars

SMALL TIME DEPOSITS

I I I I
LATEST DATA PLOTTED WEEK ENDING: JANUARY 12.

1987

BILLIONS OF DOLLARS

ififiZ.
DEC.

BILLIONS OF DOLLARS

BILLIONS
8

281.2
281.3
287.9
289.9

LARGE TIME DEPOSITS

4 16

2 16 90 19 27 10 24 10 24
JAN
FEB

7 21
APR

5 10
MAY

LATEST DATA PLOTTED WEEK ENDING: JANUARY 12.

2 16 90 14 26 II 28
JUL
AUG

6 22

12 26
OCT

NOV

1987

1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

tO

COMMERCIAL BANK
TOTAL TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS

of dollars

billions

I II

2 10 30 13 17 10 24 10 24
JAN

FEB

7 21

9 10

2 19 90 14 2* II 29

APR

MAY

JUL

LATEST DATA PLOTTED WEEK ENDINGi JANUARY 12,

9 22

AU6

a 20

3 17

OCT

NOV

I 19 29 12 20

1987

TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL Tilt DEPOSITS AMI LARGE TIME DEPOSITS.

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS END I NOi
1/13/M

4/14/M

6/9/M

7/14/M

8/11/M

9/15/M 10/13/M 11/10/M

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/ 9/M
7/14/M
8/11/M
9/15/M
10/13/M
11/10/M
12/ 15/M
1/12/87

0.0
0.1
0.0
0.4
0.0
-0.0
0.4
1.7


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

-4.1
-3.2
-1.9
-2.1
-1.9
-1.0
0.9

-0.1
0.9
-0.0
-0.1
0.7
2.9

1.3
-0.2
-0.2
0.8
3.4

0.0
-0.1
1.1
4.2

-1.9
0,5
4.6

2.2
7.1

10.6

PREPARED BY FEDERAL RESERVE SAW OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
BILLIONS OF DOLLARS

6.0

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
------1------------- 1---------- 6.0

---------- ----

1

1818

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDING) JANUARY 21,

1987
BILLIONS OF DOLLARS
2.5

BILLIONS OF DOLLARS

31

1546

2.0

1.5

ADJUSTMENT + SEASONAL
BORROWINGS

1.0

0.5

6 20 4 19
NOV
DEC
1985

1

15 29 12 26 12 26
FEB
MAR

9 23

7 21
MAY

4 16
JUN

2 16 30 13 27 10 24
AUG
SEP

6

5 19

3 17 31

14 28

LATEST DATA PLOTTED WEEK ENDING. JANUARY 21, 1987
1/ 63.787 FOR 11/27/85


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
95

DEC. 1

JAN.

7

85

75

e 20
NOV

4 10
DEC

I

15 29 12 20 12 26
FEB
MAR

0

7 21
MAY

LATEST DATA PLOTTED WEEK ENDINGt JANUARY 14,

A 10
JUN

2 10 50 15 27 10 24
AUG
SEP

0 22

5 19

5 17 51

14 28

1987

BUSINESS LOANS u

(COMMERCIAL AND INDUSTRIAL)
WEEKLY REPORT ING LARGE COMMERCIAL BANKS V
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
“
Z_
_
-

BILLIONS OF DOLLARS
290

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
JANUARY 7. 1987 FROM
THE FOUR llfEEKS ENDINGt

- NOV.

5,

1986

ocr. iu,
AUG. 6,
- JUL
9,

iwoo
1986
1986

I JAN.

1986

8,

51.8

270

265

260

6 20
NOV

4 10
DEC

1

18 29 12 20 12 26
FEB
MAR

9 25

7 21
MAY

LATEST DATA PLOTTED WEEK ENDINGt JANUARY 7,

4 19
JUN

2 16 50 15 27 10 24
AUG
SEP

DEC.

3

JAN.

7

265,661
266,577
268,590
275,034

111 1 I I I I I I I I I I
6 22 5 19 5 17 51 14 20

1987

1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 01.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11