Full text of U.S. Financial Data : January 28, 1983

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U.S. Financial Data
Reserve Bank of St. Louis

January 28,1983

LWffARV

3 1 1983
Data on the adjusted monetary base, adjusted reserves
and business loans at large weekly-reporting banks have been
revised by this Bank to reflect the seasonal patterns in the data
in 1982 and prior years. Revisions of the seasonal factors used to
compute the seasonally adjusted data occur at the beginning of
each year. In addition, the business loan series has been amended
to conform to an adjustment factor released by the Board of
Governors for 1982. This adjustment, an upward revision of $812
million, offsets the cumulative effects of mergers and other
changes involving the business loans of large weekly-reporting
banks.
The following table summarizes the growth rates in
these series during various subperiods from 10/81-12/82. Since
the growth of money (Ml) has changed substantially on a number
of occasions since late 1981 (see page 4), the subperiods were
selected to conform to those periods of changed monetary
growth. As these data indicate, the seasonal revisions have had
minimal effects on the growth rates of the adjusted monetary
base,
adjusted
reserves and business loans at large
weekly-reporting banks.
—Gary Santoni
Growth Rates of Old and Revised Series
(compounded annual rates of change)
Adjusted
monetary base

Adjusted
reserves

Business
loans

Period

Old

Revised

Old

Revised

Old

Revised

10/81 - 1/82
1/82 - 7/82
7/82 - 12/82

9.6%
7.6
7.4

9.1%
7.5
7.9

12.6%
5.9
7.5

10.7%
5.5
9.5

13.3%
20.9
1.4

15.7%
19.9
1.4


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
190

aiLUjQNS
184.0
184.7
184.2
184.5
185.7
185.6

186

184

178

176

30

13 27

JAN

10 24

10 24

FEB

APR

JAN

MAY

LATEST DATA PLOTTED WEEK ENDING: JANUARY 26,

FEB

1983

THE ADJUSTED MONETARY BASE CONSISTS OF: (!) RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT
FEDERAL RESERVE BANKS, (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE
VAULTS OF ALL DEPOSITORY INSTITUTIONS), AND (3) 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 AVAIL­
ABLE FROM THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING;

1/27/82

4/28/82

6/23/82

7/28/82

8/25/82

9.5
7.7
7.8
7.5
7.6
7.6
7.8
7.9

7.3
7.5
7.2
7.3
7.3
7.7
7.8

4.0
4.7
5.5
5.8
6.5
6.8

7.0
7.4
7.4
7.9
8.0

7.0
7. !
7.8
8.0

9/29/82 10/27/82 11/24/82

TO THE AVERAGE
OF FOUR WEEKS
END 1NG:
6/23/82
7/28/82
8/25/82
9/29/82
10/27/82
11/24/82
12/29/82
1Z26/83


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

7.8
8.5
8.6

8.6
8.7

9.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ADJUSTED RESERVES
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
54 ------------- 1---------- 1--------

BILLIONS OF DOLLARS
--------------------------------- 54

BILLIONS
51.0
51.0
51.5
50.8
51.2
51 .9

2

16 30

13 27

10 24

10 24

7 2!

5

19

2

16 30

14 28

II

25

8 22

6 20

3

17

JAN
FEB
1983

1982
LATEST DATA PLOTTED WEEK ENDING: JANUARY 19.

1983

ADJUSTED. MONETARY BASE ( RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL RESERVE
BANKS PLUS CURRENCY IN CIRCULATION) LESS CURRENCY HELD BY THE NONBANK PUBLIC.

ADJUSTED RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING!
1/20/82

4/21/82

6/16/82

7/21/82

8/18/82

4.2
5.8
5.4
4.6
7.2
7. 1
7.8

0.0
1.5
1.2
5.3
5.5
6.5

7,3
5.0
9.6
8.9
9.6

2.4
9.2
8.4
9.3

9/22/82 10/20/82 11/17/82

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/16/82
7/21/82
8/18/82
9/22/82
10/20/82
11/17/82
12/22/82
1/19/83

11.3
7.3
7.8
7.3
6.5
8.2
8.0
8.4


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

12.4
10.0
10.8

14.8
14.4

9.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY STOCK ( Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
500

BILLIONS
DEC.

15

495

480.4
490

Z

477.4

JAN.

485

483.5

480
475
470
465

450
445
440

2

16 SO

DEC

13 27

JAN

10 24

FEB

10 24

MAR

2

APR

MAY

1981

16 30

JUN

H 28

II

22

25

6 20

3

17

I

15 29

12 26

3 23

Jl/L
1982

LATEST DATA PLOTTED WEEK ENDING-. JANUARY 19,

1983

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
Ml CONSISTS OF CURRENCY HELD BY THE NONBANK PUBLIC PLUS COMMERCIAL BANK DEMAND DEPOSITS
HELD BY THE NONBANK PUBLIC (EXCLUDING THOSE HELD BY FOREIGN BANKS Ah® OFFICIAL INSTITUTIONS)
AND OTHER CHECKABLE DEPOSITS OF ALL DEPOSITORY INSTITUTIONS PLUS TRAVELERS’ CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING:

t/20/82

4/21/82

6/16/02

7/21/82

8/18/82

3.3
1 *3
2.4
4»4
5.3
7. 1
7.6
7.5

-1.9
0.8
4.3
5.7
8.2
8.8
8s6

0.4
6.0
7.8
10.9
11. i
10.5

14.0
14.0
16.7
15.7
14.2

15.7
18.8
16.9
14.9

9/22/82 10/20/82 M/17/82

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/16/82
7/21/82
8/18/82
9/22/82
10/20/82
11/17/82
12/22/82
1/19/83


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

19.8
16.9
14.3

18.1
14.4

9.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY MULTIPLIERi/
CURRENCY COMPONENT OF MONEY STOCK*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BAT IQ

MI MULTIPLIER

LATEST DATA PLOTTED WEEK ENDING: JANUARY 19,

1983

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
138

COMPOUNDED ANNUAL RATES
-----OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING
“ JANUARY 19, 1983 FROM
-----THE FOUR WEEKS ENDING:
—

NOV.
OCT.
— SEP.
_ AUG.
JUL.
— nrn.
APR.
JAN.

17, 1982
20, 1982
22, 1982
18, 1982
21, 1982
21, i 1982
c. i ,
soc
20, 1982

136
134

9. 1
7.5
7.5
7.7
7.4
8.0

132
CURRENCY
130

1.983
DEC.

I

124

BILLIONS
32.5

122
120

33'.8
11111 ii 111111111
2

16 30

DEC
>981

13 27

JAN

10 24

FEB

10 24

7 21

5 19

2

MAR

APR

MAY

JUN

16 30

14 28 I I

JUL
1982

LATEST DATA PLOTTED WEEK ENDING: JANUARY 19,

AUG

25

8 22 6 20

SEP

OCT

3

17

NOV

1

15

DEC

29 12 26

9 23

JAN
FEB
|983

1983

1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

0

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT

22.0

22.0

21 .0

21.0

20.0

20.0

19.0

19.0
18.0
PRIME BANK
LOAN RATE

17.0
16.0

90 DAY
CD'S

15.0
14.0

14.0
13.0

13.0

CORPORATE
AAA BONDS

12.0

12.0
MUNICIPAL
BONDS**

1 1 .0

11.0

10.0

10.0
COMMERCIAL
PAPER

9.0
8.0
7.0
0

FEB

MAR

AUG

1981

JAN
FEB
1983

SEP

1982

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JANUARY 28.

1983
DEC.

JAN.

FEB.

3
10
17
24
31
7
14
21
28 *
4
1 1
18
25

90 DAY
CD'S

PRIME
COMMERC1AL
PAPER ***

PRIME
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

8.79
8.67
8.70
8.59
8.57
8.51
8. 18
8. 18
8.49

8.67
8.50
8.52
8.43
8.50
8.32
8.04
8.03
8.29

8.68
8.58
8.59
8.54
8.58
8.36
8.03
8.09
8.34

11.83
11.79
11.82
1 1 .91
11.82
11.77
11.70
11.70
1 1 .94

14.16
14.11
14.15
14.20
14.11
14.04
13.92
13.84
13.95

1983

MUNICIPAL
BONDS *x
** ***
10.23
10. 13
10.05
9.84
9.56
9. 48
9.37
9.48
N. A.

* AVERAGES OF RATES AVAILABLE.
** BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
*** DATA ARE 4-MONTH COIACRCIAL PAPER RATES.
N.A. - NOT AVAILABLE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY
20.0

PERCENT
20.0

19.0

19.0

18.0

18.0
17.0
FEDERAL
FUNDS RATE

16.0
5-Y'EAR
TREASURY SiECUR ITIES

15.0

15.0

14.0
13.0

12.0

DISCOUNT
RATE
I 1.0

1 1.0

10.0
9.0
8.0
3-MONTH
TREASURY BILL

7.0
6.0
0

1981

1982

1983

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING-. JANUARY 28,

1983
DEC.

JAN.

FEB.

3
10
17
24
31
7
14
21
28 *
4
1 1
18
25

1983

FEDERAL
FUNDS **

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL ***

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.69
8.84
8.86
8.69
8.79
10.21
8.42
8.49
8.44

8. 14
7.96
7.80
7.91
8.01
7.92
7.66
7.75
8.08

8.51
8.25
8.21
8. 10
8.05
7.95
7.77
7.73
8. 14

8.53
8.36
8. 15
8. 1 4
8. 1 1
8.02
7.82
7.96
8.20

10.31
10.26
10.23
10.22
10. 15
10.04
9.88
9.92
10.22

10.69
10.59
10.64
10.62
10.52
10.49
10.49
10.60
10.87

* AVERAGES OF RATES AVAILABLE.
** SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE.
*** NEW ISSUE RATE
RATES ON LONG-TERM TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST. LOU I
TREASURY BILL YIELDS ON DISCOUNT BASIS.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
TOTAL CHECKABLE DEPOSITS!/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
360

BILLIONS
355

343.7
340.4
339.7
346.7
345.4

350

345

340

335

330

325

320

315

310

305
I I II

1983

1982

1981

LATEST DATA PLOTTED WEEK ENDING: JANUARY 19,

1983

1/ DEMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITORY INSTITUTIONS

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
1/20/82

AVERAGE OF FOUR WEEKS ENDING:

4/21/82

6/16/82

7/21/82

8/18/82

-5.8
-2.0
2.8
4.9
8.6
9.4
9.0

-1.3
6.2
8.5
13. 1
13.3
12.2

16.7
16.9
21 . 1
19.6
17.2

19.3
24.2
21 .4
18.3

9/22/82 10/20/82

1/17/82

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
6/16/82
7/21/82
8/18/82
9/22/82
10/20/82
11/17/82
12/22/82
1/19/83

0.9
-1 .4
0.3
3.0
4.4
7.0
7.7
7.5


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

26.3
21.6
17.5

23.6
17.6

10.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL TIME DEPOSITS!/
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
930 r-----------1---------- 1-----

BILLIONS OF DOLLARS
---------------------------- =1 930

BILLIONS
843.9
844.5
856. 1
864. 1
875.2
878.0

I II I
5

DEC
1981

JAN

FEB

MAR

APR

19

MAY

2

16 30

JUN

14

JUL
1982

LATEST DATA PLOTTED WEEK ENDING: JANUARY 12,

28

II

AUG

25

SEP

OCT

NOV

DEC

JAN
FEB
1983

1983

1/ SAVINGS DEPOSITS PLUS SMALL TIME DEPOSITS PLUS LARGE TIME DEPOSITS

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
1/13/82

4/14/82

6/9/82

7/14/82

TO THE AVERAGE
OF FOUR WEEKS
ENDING;
6/ 9/82
7/14/82
8/11/82
9/15/82
10/13/82
11/10/82
12/15/82
1/12/83

8/11/82

9/15/82 10/13/82 11/10/82

NO NEW DATA AVAILABLE
17.9
18.0
18.5
16.7
15.0
13.8
1 1.9
14. 1


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

17.8
18.6
15.8
13.4
11.9
9.7

12.8

19.8
15.0

13.0
9.2
7.6
5. 1
10.3

1 1.8
10.0
7.5
11.6

4.3
3.8
1.8
8.5

1.9
-0.0
8.9

-0.5
11.4

15.6

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

SMALL TIME DEPOSITS 1/
COMMERCIAL BANK SAVINGS DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
450
440
430
420
410
400
390
380
370

=-------- 1------ r—i
E— COMPOUNDED ANNUAL RAT
= OF CHANGE, AVERAGE OF
— THE FOUR WEEKS ENDING
— JANUARY 19, 1983 FROk
=— THE FOUR WEEKS ENDING
= NOV. 17, 1982-30.3
“OCT. 20, 1982 -23.0
= SEP. 22, 1982-18.9
— AUG. 18, 1982 -13.0
E JUL. 21, 1982 -7.6
— APR. 21 , 1982
1 .8
= JAN. 20. 1982
7.1

BILLIONS OF DOLLARS
450

E
E
E

SMALL TIME )EPOS TS

A
\

E

=

E
i

-

-

—

1 983 B ILL 10 NS =
DEC
-E
l• ii
2! Ill:
-=
12 379.3
19 373.9
=
111111111111111 r

m

320

=
1m. -LLL -LLL .1 ILL -LLL -LLL ■ Ll.l-L 1 1 1
LATEST DATA PLOTTED WEEK ENDING: JANUARY 19,

I.LI. -11 1.1

1 1 1

240

=

JAN.

220

170

140

E

=
=

0

250

230

220

=
210
i

=
=

200

=
E

—

SAVIN GS

=

=
=

-

E

—

=

°i 111
2

16

DEC
1981

111

111

30 IS 27

JAN

1111

10 24

FEB

in

10 24 7 21

MAR

APR

LATEST DATA PLOTTED WEEK ENDING.

111

1111

5 S 1919

2

16 30

MAY
MAY

JUN

111 -LLL 1 11 1
14 28

JUL
1982

JANUARY 12,

II

AUG

25

8 22

SEP

1 1 1

1 1 1

6 20

3

17

OCT

NOV

1 1 1 1

1

15 29

DEC

111

12 26

E
5
1 1 1

9 23

JAN
FEB
1983

1983

1/ COMMERCIAL BANK TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN $100,000.


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

190
180

DEP 3SITS

130
0

310

240

/
r

22§: ?

160
150

320

260

E
E

190
180

330

E

210
200

340

BILLIONS OF DOLLARS
270

--------- ,--------1-------- —
=- 1983 BILLI
E_ DEC. 8 165.
l

230

360

1983

BILLIONS OF DOLLAftS
270

250

380

350

E

330

260

400

370

E
E

340

0

410

390

\
\

—

310

430
420

=
E

360
350

440

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

170
160
150
140
130
0

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

billions of dollars

4.5
1983

MILLIONS

DEC. 22

4.0
3.5
3.0
2.5

2.0

I I I I
2

16 30 13 27

10 24

10 24

7 21

5

19

2

16 30

14 28

I I

25

I

15 29

12 26

9 23

1982
LATEST DATA PLOTTED WEEK ENDING: JANUARY 26,

1983

BUSINESS LOANS u

( COMMERCIAL AND

INDUSTRIAL )

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

BILLIONS OF DOLLARS
224 —
|---------- 1---------- 1------------- —
Z COMPOUNDED ANNUAL RAT ES
— OF CHANGE, AVERAGE OF
- THE FOUR WEEKS ENDING
Z JANUARY 19, 1983 FROM
— THE FOUR WEEKS END 1NG
Z
—
Z
—
-

NOV.
OCT.
SEP.
AUG.
JUL.
APR.
JAN.

17,
20,
22,
18,
21.
21 ,
20,

1982
1982
1982
1982
1982
1982
1982

BILLIONS OF DOLLARS
224

z
z

E

-1.8
-5.5
-1 .4
2.2
1.9
7.0
11.3

E
E
204
-

200
196
192

-

200

r

E

E

z

E

Z

-

188
184
180
176

196
192
188

±98.

z
E

DEC.

z
"mi

0
DEC
1981

111

i i i

III!

111
7 21

5 19

JAN

FEB

MAR

APR

MAY

-LLL

1 1 1 1

1 1 1

1 1 1

16 30 14 28 11

JUN

JUL
1982

LATEST DATA PLOTTED WEEK ENDING: JANUARY 19,

AUG

1 1 1 1
8 22

SEP

15
22
29
JAN. 5
12
19
II 1 1 1
_LLL a u
6 20

OCT

I

NOV

MILLIONS

-

214,300
214,286
213,858
215,331
215,541
217,662
1 M 1 1 1 1

Z
~
-

15 29

DEC

12 26

9 23

JAN
FEB
1983

1983

2/ BANKS WITH DOMESTIC ASSETS OF *750 MILLION OR MORE
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

180
176

l‘

1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER


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

184

0

12
LARGE TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

290
BILLIONS
=

DEC.

285

270.5

280
275

250
245
240

APR

MAY

LATEST DATA PLOTTED WEEK ENDING: JANUARY 19,

JUL

AUG

OCT

NOV

JAN

FEB

1983

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF 1100,000 OR MORE.


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