Full text of U.S. Financial Data : January 29, 1987
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RESEA,%alH LSBRARY neiiervc osnk f pEB 02 1987 nancial Data January 29, 1987 There were wide differences in the growth rates of the major components of M2 during 1986. As the table on the back page shows, these differences were not very large over the first three months of the year when M2 grew modestly. During this period, the only major component of M2 that grew rapidly was general purpose and broker/dealer money market mutual funds (MMMFs), which increased at an annual rate of 23.9 percent. Because MMMFs represent less than 8 percent of M2, they have a relatively minor influence on its growth. Over the March-August period, the growth rates of Ml, money market deposit accounts (MMDAs) and savings deposits increased dramatically, causing a three fold increase in the growth rate of M2. Small time deposits, however, actually declined over this period, and the growth rate of MMMFs slowed to 19.4 percent. V Over the final four months of 1986, M2 growth decelerated somewhat despite a slight increase in Ml growth and a further acceleration in the growth of savings deposits. The deceleration in M2 growth was due to a reduction in the growth of MMDAs and a more rapid decline in small time deposits over the AugustDecember period than over the previous five months. Moreover, the growth of MMMFs slowed to 10.4 percent over the last period. —Philip A. Nuetzel (continued on back page) expressed do not necessarily reflect official positions of the Federal Reserve System. Digitized forviews 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 BILLIONS OF DOLLARS 266 258 254 240 242 258 4 18 I 18 20 12 FEB 12 28 B 23 MAR 7 21 4 IB MAY JUN 2 18 30 IS 27 AUG 10 24 8 22 5 IB 3 17 SI SEP 14 28 II JAN FEB LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDINGi JANUARY 28, 1987 JWMTcM hIESUBYSTHE MONETARY BASE IS AVAILABLE FROM ____ _ .. THE MAJOR ED BY THIS BANK. RECENT DATA ARE PRELIMINARY. ADJUSTED MONETARY BASE COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF TWO MAINTENANCE PERIODS ENDINGi 1/29/86 4/23/86 7.3 7.8 7.8 7.9 7.8 8.4 8.8 9.3 8.9 8.7 8.7 8.4 9.2 9.5 10.2 7/2/86 7/30/86 8/27/86 8.2 7.8 9.3 9.9 10.9 7.9 9.8 10.4 11.4 9/24/88 10/22/86 12/3/86 TO THE AVERAGE OF TWO MAINTENANCE PERIODS ENDINGi 7/ 2/86 7/30/86 8/27/86 9/24/86 10/22/86 12/ 3/86 12/31/86 1/28/87 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9.1 9.0 8.5 9.6 10.0 10.8 10.2 10.9 12.1 12.4 13.5 14.4 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK (Ml ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 770 ------------- 1---------- 1------ ILL IONS OF DOLLARS ----------------- ----------- 770 741 .6 JAN. 2 734.8 732.2 16 30 13 27 10 24 10 24 JAN FEB 7 21 5 19 APR MAY 2 16 30 14 28 II JUL LATEST DATA PLOTTED WEEK ENDINGt JANUARY 10, 25 8 22 AUG 6 20 3 17 OCT NOV I 15 29 12 26 JAN 9 23 FEB 1987 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. BY THE N0NBANK 0THER CHECKABLE PUBLIC’DEMA"> DEP0SIT3’ MONEY STOCK (Ml ) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 1/20/88 4/21/88 6/16/86 7/21/86 8/18/86 19.8 19.7 19.3 17.8 18.1 19.2 20.4 16. 1 16.7 15.2 16.1 17.9 19.5 18.6 15.9 16.9 18.9 20.7 14.3 16. 1 18.7 21.0 9/22/86 10/20/86 11/17/86 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/16/86 7/21/86 8/18/86 9/22/86 10/20/86 11/17/86 12/22/86 1/19/87 15.3 14.9 15.5 15.9 15.2 15.7 16.7 17.8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 14.9 19.1 21.9 23.3 25.8 28.4 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4 MONEY MULTIPLIER!/ CURRENCY COMPONENT OF MONEY STOCK */ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED 3.0 RATIO 2.788 2.818 2.0 Ml MULTIPLIER 2.8 2.7 2.6 2 16 90 13 27 10 24 JAN 10 24 FEB 7 21 9 IB APR MAY 2 16 90 14 26 II JUL LATEST DATA PLOTTED TWO WEEKS ENDINGt JANUARY 12, 25 8 22 AUG 6 20 3 17 OCT NOV 1 0 15 2B 12 JAN FEB 1087 BILLIONS OF DOLLARS BILLIONS OF DOLLARS 188 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR OCT. 20, 1986 10.6 SEP. 2; AUG. 1 t; 1986 10.4 >0, 1986 1986 180 CURRENCY 176 1987 DEC. BILLIONS 15 183.1 184.0 185.2 186.2 llU-Ll.1.1 1. Ill 2 16 90 19 27 10 24 10 24 1985 7 21 5 IB APR MAY 2 16 90 14 26 II JUL 1986 25 8 22 AUG 6 20 3 OCT NOV 17 I 15 2B 12 26 JAN B 29 FEB LATEST DATA PLOTTED WEEK ENDINGt JANUARY 19, 1987 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 TOTAL CHECKABLE DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 575 - 1 - JL96Z. _ - DEC. JAN 1 BILLIONS OF DOLLARS 575 1 “ BILLION? 15 22 533.1 541.6 Z9 oou. 0 557. 9 5 12 19 /X 543. 2 539. 6 r-J - AA V - r 495 1 1 1- 495 1 1 - 1 1 1 \/ 455 i1 1 1 1 DEC 1 1 1 .1.11 JAN FEB 1111 in MAR APR _LLL -Ll.l 1 MAY 1985 JUN Ml 1 1 1 III! 111 in -LI 1 1 111 ILL. JUL 1986 AUG SEP OCT NOV JAN FEB LATEST DATA PLOTTED WEEK ENDING* JANUARY 19. DEC 1987 1987 IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL UfcrUSI I Uni I NS I I TUT IONS. TOTAL CHECKABLE DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 1/20/86 4/21/86 6/16/86 7/21/86 8/18/86 25.0 24.5 24.1 21 .9 22.3 23.9 25.1 19.5 20.6 18.2 19.5 22. 1 23.8 22.8 18.8 20.2 23.3 25.2 17.0 19.5 23.4 25.6 9/22/86 10/20/86 11/17/86 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/18/86 7/21/86 8/18/86 9/22/86 10/20/88 11/17/86 12/22/86 1/19/87 18.5 18.2 18.8 19.3 18.4 19.0 20.5 21.6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 17.4 23.6 26.5 30.1 32.0 35.1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 6 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES PERCENT 12.0 9.0 7.0 5.0 6 20 9 17 91 M 28 14 28 11 FEB MAR 25 9 29 APR 8 20 4 18 I 15 29 12 26 10 24 JUN JUL 1986 1985 7 21 5 19 NOV DEC 2 16 90 15 27 1987 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGi JANUARY 30, 1987 DEC. JAN. FEB. 5 12 19 26 2 9 16 23 30 X 6 13 20 27 1987. 90 DAY CD’S 30-DAY COMMERCIAL PAPER 90-DAY BANKERS* ACCEPTANCES CORPORATE Am BONDS CORPORATE Bm BONDS MUNICIPAL BONDS «X 5.83 5.88 6.08 6.27 6.22 5.90 5.85 5.82 5.87 6.02 6.03 6.59 7.39 7.31 6.01 5.90 5.87 5.93 5.75 5.84 6.04 6.24 6. 10 5.74 5.73 5.70 5.81 8.52 8.48 8.51 8.47 8.49 8.40 8.33 8.31 8.37 9.98 9.97 9.97 9.98 9.97 9.82 9.70 9.65 9.68 6.77 6.94 6.92 6.83 6.85 6.70 6.65 6.40 N. A. NOTE. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.15 RELEASE. * AVERAGES OF RATES AVAILABLE m BOND BUYER'S AVERAGE INDEX OF 20 MUN.CIPAL BONDS, THURSDAY DATA 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 II.0 9.0 treasury'sIcurities 8.0 DISCOUNT RATE 7.0 5.0 e 20 3 17 91 14 28 H 28 II FEB MAR 25 0 23 APR S 20 4 13 JUN JUL I 15 20 12 25 10 24 7 21 5 10 NOV DEC 2 15 30 19 27 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt JANUARY SO. 1987. 1987 DEC. JAN. FEB. 5 12 19 26 2 9 16 23 30 X 6 13 20 27 FEDERAL FUNDS JW 3-MONTH TREASURY BILL 6-MONTH TREASURY BILL MXX 1-YEAR TREASURY BILL 5-YEAR TREASURY SECURITIES LONG-TERM TREASURY SECURITIES 6.25 5.97 6.30 6.31 9.20 7.62 6.01 6.01 6.13 5.42 5.49 5.57 5.56 5.65 5.46 5.35 5.35 5.48 5.46 5.50 5.58 5.56 5.66 5.55 5.43 5.27 5.43 5.47 5.51 5.57 5.59 5.64 5.49 5.45 5.38 5.48 6.61 6.62 6.68 6.69 6.79 6.63 6.63 6.58 6.67 7.65 7.68 7.70 7.63 7.76 7.58 7.59 7.56 7.69 THIS°BANK?RSTREASURYEBfLLEY?ELbsDARE ON^DfsCOUN^BAsIs. **0*^AUCtTON^AVERAGE^f0*1SCOONTT) http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis ™ °AYS THAN DATE ^ PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 7 8 COMMERCIAL BANK SMALL TIME DEPOSITS^ LARGE TIME DEPOSITS^ BILLIONS OF DOLLARS 1987 I DEC. AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS of dollars BILLIONS 15 362.5 SMALL TIME DEPOSITS LATEST DATA PLOTTED WEEK ENDING* JANUARY 19, 1987 BILLIONS OF DOLLARS BILLIONS OF DOLLARS BILLIONS. DEC. 15 281.3 282.7 287.7 287.9 289.8 290.8 LARGE TIME DEPOSITS 2 16 30 13 27 JAN 10 24 10 24 FEB 7 21 5 10 APR MAY 2 16 30 14 11 JUL 25 8 22 AUG 8 20 3 17 OCT NOV 1 15 20 12 28 JAN 9 23 FEB LATEST DATA PLOTTED WEEK ENDING: JANUARY 19, 1987 1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 6100,000 2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 OR MORE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS COMMERCIAL BANK TOTAL TIME DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 820 ------------- 1---------- 1------ ILL IONS OF DOLLARS ----------------- ----------- 820 797.8 813.9 2 10 30 IS 27 10 24 JAN 10 24 FEB 7 21 9 10 APR MAY 2 10 30 14 20 11 JUL LATEST DATA PLOTTED WEEK ENDINGt JANUARY 19, 25 0 22 AUG 0 20 3 17 OCT NOV 1 15 29 12 20 JAN 0 23 FEB 1987 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 ENDINGt 1/20/88 4/21/86 6/16/86 7/21/86 8/18/86 9/22/86 10/20/86 11/17/86 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/16/86 7/21/86 8/18/86 9/22/86 10/20/86 11/17/86 12/22/86 1/19/87 -1 . 1 -0.8 -0.7 -0.2 -0.7 -0.4 0. 1 1.8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -4. 1 -3.2 -1.9 -2.4 -1.7 -0.8 1.4 0.4 1 . 1 -0.2 0.4 1.1 3.8 1.3 -0.6 0.3 1.2 4.4 -0.8 0.4 1.5 5.2 -0.9 1.1 6.0 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 10 BORROWINGS FROM FEDERAL RESERVE BANKS AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS 4.0 ---------- i------------- 1------ ISfil 91 ILL IONS OF DOLLARS MILLIONS 1818 TOTAL BORROWINGS LATEST DATA PLOTTED WEEK ENDINGi JANUARY 28, 1987 BILLIONS OF DOLLARS 2.5 ---------- i------------- i-----IML BILLIONS OF DOLLARS MILLIONS. ADJUSTMENT + SEASONAL BORROWINGS 4 18 DEC 1985 I 15 29 12 28 12 26 JAN FEB MAR 9 29 APR 7 21 4 18 MAY JUN LATEST DATA PLOTTED WEEK ENDINGi JANUARY 28, http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 18 30 13 27 10 24 JUL 1986 AUG SEP 8 22 OCT 5 19 NOV 3 17 31 DEC 14 28 11 25 JAN FEB 1987 1987 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS COMMERCIAL PAPER OF NONFINANCIAL COMPANIES NOT SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 95 - DEC. 17 _ JAN. 7 85 80 75 4 19 I 16 29 12 26 12 FEB 0 23 MAR 7 21 4 18 2 16 30 13 27 10 24 MAY JUN AUG LATEST DATA PLOTTED WEEK ENDING, JANUARY 21, 8 22 5 19 3 17 31 SEP 14 28 11 JAN 25 FEB 1987 BUSINESS LOANS v ( COMMERCIAL AND INDUSTRIAL ) WEEKLY REPORTING LARGE COMMERCIAL BANKS & SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS = OF^CHANgI^AVERAGE^OF ^ - THE FOUR WEEKS ENDING - JANUARY 14, 1987 FROM - THE FOUR W&EKS ENDING. 57.4 39.9 30.0 24.1 18.8 11.9 9.5 - OCT. 15 I AUG. 13, I JUL. 16, MILLIONS DEC. 10 JAN. 269,202 271,205 277,642 7 1 I I I I I 1 1 1 I 1 I I I 4 16 1 18 29 12 26 12 26 FEB MAR 9 23 7 21 4 MAY JUN 18 2 18 30 IS 27 AUG 10 24 6 22 SEP 5 19 3 17 31 14 28 II JAN 28 FEB LATEST DATA PLOTTED WEEK ENDING, JANUARY 14, 1987 1/ BUSINESS LOANS INCLUDE BANKERS* ACCEPTANCES AND COMMERCIAL PAPER. 2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 61.4 BILLION http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 Growth of M2 and Selected Components (seasonally adjusted compounded annual rates) Total small time deposits Total savings deposits Total MMDAs1 Period M2 Ml 12/85-3/86 3/86-8/86 8/86-12/86 4.1% 12.6 9.1 7.7% 19.5 19.9 6.7% -4.6 -8.2 4.4% 25.7 33.1 6.8% 15.7 9.8 16.6 -3.2 22.3 11.4 12/85-12/86 ‘Not seasonally adjusted http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9.3
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