Full text of U.S. Financial Data : January 7, 1983
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U.S. Financial Data F^feftlReserve Bank of St. Louis l :H!>W ATHV January 7,1983 ---------------------------------------------------------------------------------------------------------------------------------------------------------------------- JAN 1 1 1983 Despite increasing estimates of future federal government budget deficits and relatively wide swings in the monetary growth rate, interest rates declined substantially during 1982. The decline in short-term interest rates ranged from 450-650 basis points during the period from February through December. The federal funds rate declined from a weekly average peak of 15.61 percent in February to 8.79 percent at the end of December, while the yield on 3-month Treasury bills declined from 14.12 percent to 8.01 percent over the same period. Lagging somewhat the general decline in short-term rates, the discount rate was successively reduced from its January level of 12 percent to the current level of 8.50 percent. The decline in longer-term interest rates was also substantial. The reduction in these rates was generally in the neighborhood of 350-450 basis points with the smaller declines being scored by securities of longer maturity. The yield on 5-year Treasury securities, for example, fell by 476 basis points from the middle of February through the end of December, while the yield on long-term Treasury bonds declined 398 basis points. The general decline in interest rates from February through December occurred in three phases. Interest rates declined somewhat from February through June, then fell sharply from June through August. After some oscillation in September and October, interest rates continued relatively unchanged over the remainder of the year. The most abrupt decline in interest rates occurred in the face of sharply rising estimates of federal government budget deficits and during a period of relatively modest monetary growth. From January through August, Ml grew at a 2.5 percent rate. Interest rates were roughly unchanged during the last four months of 1982 even though this period was characterized by very rapid monetary growth. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis —Gary Santoni 2 ADJUSTED MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS BILLIONS OF DOLLARS 188 BILUQNS 186 182.5 182.8 183.5 183.8 184.7 184.6 DEC. 184 182 180 178 176 174 172 170 168 2 16 30 13 27 10 24 10 24 7 21 5 19 LATEST DATA PLOTTED WEEK ENDING: JANUARY 5. 2 16 30 H 28 11 25 8 22 1983 THE ADJUSTED MONETARY BASE CONSISTS OF: (II RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL RESERVE BANKS. (2) CURRENCY IN CIRCULATION (CURRENCY HELD gY THE PUBLIC AND IN THE VAULTS OF ALL DEP0SIT6rY 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: 1/6/82 4/7/82 6/2/82 7/7/82 8/4/82 9/8/82 10/6/82 11/3/82 9. 1 8.6 7.7 8.0 7.4 7.4 7.5 7.9 9.0 7.4 7.9 7.0 7. 1 7.3 7.8 4.7 6.4 5.5 5.8 6.3 7.1 6.3 5.0 5.6 6.2 7.2 6.3 6.7 7. 1 8. 1 4.8 6.1 7.7 7.9 9.4 10.3 TO THE AVERAGE OF FOUR WEEKS ENDING: 6/ 7/ 8/ 9/ 10/ 11/ 12/ 1/ 2/82 7/82 4/82 8/82 6/82 3/82 8/82 5/83 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS ADJUSTED RESERVES AVERAGES OF DAILY FIGURES StASUNALLY ADJUSTED LLIONS OF DOLLARS BILLIONS OF DOLLARS --------------------- ----------- 52 BILL!QN$ 50.3 50.6 50.8 51.5 I I I I 2 NOV 16 30 DEC 1981 I I I I 13 27 JAN 10 24 FEB 10 24 7 MAR APR 21 S 19 2 MAY 16 30 14 26 II 25 8 22 I JUN 15 29 12 26 19, LATEST DATA PLOTTED WEEK ENDING: DECEMBER 29, 1982 ADJUSTED MONETARY BASE (RESERVE ACCOUNTS OF FINANCIAL INSTI TUT IONS AT FFnFRAi BANKS PLUS CURRENCY IN CIRCULATION) LESS CURRENCY HELD BY THE NONBANK PUBLIC ofqfbvc ADJUSTED RESERVES COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 12/30/81 3/31/82 5/26/82 6/30/82 7/28/82 10.3 10.4 7.8 8.6 6.8 6.2 7.8 8. 1 6.7 3.2 5.4 3.3 2.9 5.5 6. 1 2.4 6.2 3.0 2.4 6.0 6.6 3.5 0.0 0.0 4.8 5.7 3.6 2.5 7.8 8.3 9/1/82 9/29/82 10/27/82 TO THE AVERAGE OF FOUR WEEKS ENDING: 5/26/82 6/30/82 7/28/82 9/ 1/82 9/29/82 10/27/82 12/ 1/82 12/29/82 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis -3.8 5.7 6.9 12.2 11.8 17.4 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 490 BILLIONS 485 474.1 476. I 479.7 480.5 477.9 478.4 480 475 470 455 450 445 440 435 2 16 30 13 27 to 24 10 24 20 7 21 APR 3 17 MAY LATEST DATA PLOTTED WEEK ENDING-. DECEMBER 29, 1982 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 AND 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: 12/30/81 3/31/82 5/26/82 6/30/82 7/28/82 2.7 2.6 4.2 5.8 8.0 9.2 9.5 -0.3 3.2 5.8 8.8 10. 1 10.4 6.3 9. 1 12.3 13.2 13.0 12.2 15.5 15.7 15. 1 9/1/82 9/29/82 10/27/82 TO THE AVERAGE OF FOUR WEEKS ENDING: 5/26/82 6/30/82 7/28/82 9/ 1/82 9/29/82 10/27/82 12/ 1/82 12/29/82 6.3 4.6 4.3 5.0 6. 1 7.6 8.4 8.7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 19.4 18.2 16.8 19.3 17.2 14.5 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY MULTIPLIER^ CURRENCY COMPONENT OF MONEY STOCK 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO 1982 RATIO RATIO Ml MULTIPLIER I I I I I I I I LATEST DATA PLOTTED WEEK ENDING: DECEMBER 29, 1982 BILLIONS OF DOLLARS BILLIONS OF DOLLARS 136 COMPOUNDED ANNUAL RATES __ OF CHANGE, AVERAGE OF the four - OCT. SEP. SEP. ---- JUL. _ JUN. MAR. ---- DEC. - Weeks ending DECEMBER 29, 1982 FROM THE FOUR WEEKS ENDING: 27, 29, 1, 28, 30, 31, 30, 1982 1982 1982 1982 1982 1982 1981 6.8 6.9 7.2 7.3 6.8 8.2 7.8 CURRENCY 1292 BILLIONS )V. 24 - 111.11 ] I 30 13 27 10 24 10 24 7 21 5 19 2 LATEST DATA PLOTTED WEEK ENDING: DECEMBER 29, 16 30 M 28 11 25 8 22 6 20 3 17 1982 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 6 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT 22.0 rr PERCENT ~Z\ 22.0 21.0 21 .0 20.0 20.0 19.0 18.0 PR ME BANK LOAN RATE 16.0 90 DAY CD’S 15.0 14.0 13.0 13.0 CORPORATE Aaa BONDS 12.0 MUNICIPAL 11.0 1 I .0 10.0 10.0 COMMERCIAL PAPER 1111 A NOV DEC 1981 JAN FEB MAR APR MAY 18 JUN 2 16 30 JUL 1982 13 27 AUG 10 24 SEP 8 22 OCT NOV DEC LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JANUARY 7, 1983 NOV. DEC. JAN. 5 12 19 26 3 10 17 24 31 7 * 14 21 28 90 DAY CD’S PRIME COMMERC1AL PAPER *** 8.96 9.01 9. 19 8.69 8.79 8.67 8.70 8.59 8.57 8.54 8.78 8.77 8.91 8.48 8.67 8.50 8.52 8.43 8.50 8.39 PRIME BANKERS’ ACCEPTANCES 8 8 8 8 8 8 8 8 8 8 78 85 96 61 68 58 59 54 58 43 CORPORATE AAA BONDS 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 .68 .62 .70 .67 .83 .79 .82 .91 .82 .78 CORPORATE Baa BONDS 14.44 14.39 14.23 14. 17 14.16 14.11 14.15 14.20 14.11 14.04 JAN 1983 1983 MUNICIPAL BONDS xx 9 9 10 10 10 10 10 9 9 N 96 92 20 20 23 13 05 84 56 A. * AVERAGES OF RATES AVAILABLE. ## BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONOS, THURSDAY DATA. DATA ARE 4-MONTH COMMERCIAL 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 PERCENT PERCENT —1 20.0 20.0 17.0 FEDERAL FUNDS RATE 16.0 5-Y TREASURY SSECURITIES 15.0 14.0 13.0 DISCOUNT RATE I I .0 3-MONTH -TREASURY BILL I NOV DEC 15 29 JAN 12 FEB 26 12 26 MAR 9 23 APR 7 21 MAY 30 13 27 10 24 22 5 19 3 17 31 14 28 JUN JUL AUG SEP OCT NOV DEC JAN 1982 1983 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JANUARY 7, 1983 1981 1983 NOV. DEC. JAN. 5 12 19 26 3 10 17 24 31 7 * 14 21 28 FEDERAL FUNDS w# 3-MONTH TREASURY BILL 6-MONTH TREASURY B 1LL *** 1-YEAR TREASURY BILL 5-YEAR TREASURY SECURITIES LONG-TERM TREASURY SECURITIES 9.43 9.4b 9. M 8.91 8.69 8.84 8.86 8.69 8.79 10.21 7.78 8.07 8.31 7.94 8. 14 7.96 7.80 7.91 8.01 7.97 8.23 8.40 8.54 8. 1 1 8.51 8.25 8.21 8. 10 8.05 7.95 8.36 8.47 8.49 8.35 8.53 8.36 8. 15 8. 14 8. 1 1 8.05 10.34 10.44 10.51 10.21 10.31 10.26 10.23 10.22 10. 15 10.05 10.31 10.39 10. 49 10.50 10.69 10.59 10.64 10.62 10.52 10.48 * AVERAGES OF RATES AVAILABLE. ** S£yi££P£Y^¥ERA£!S F0R WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN ** Pc5R^cL.cAIatcPPEAR 1N THE 0OARD 0F GOVERNORS’ H.I5 RELEASE. *** NfcW ISSUE RATE KSSuK http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis C0MPUT“0Y THE FEDERAL RESERVE BANK 0F 5T-L0UISPREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 7 8 TOTAL CHECKABLE DEPOSITS^ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS B1UUQNS. 337.9 339.9 343.3 343.6 340.5 340.8 310 OCT NOV 1983 1982 LATEST DATA PLOTTED WEEK ENDING-. DECEMBER 29. 1982 1/ DEMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITORY INSTITUTIONS TOTAL CHECKABLE DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 1 2/30/81 3/31/82 5/26/82 6/30/82 7/28/82 -0.5 0. 1 2.5 4.7 7.9 9.8 10.2 -3.0 1.8 5. 1 9.5 11.7 11.9 6.9 10.2 14.8 16.4 16.0 14.0 19. 1 19.9 18.7 9/1/82 9/29/82 10/27/82 TO THE AVERAGE OF FOUR WEEKS ENDING: 5/26/82 6/30/82 7/28/82 9/ 1/82 9/29/82 10/27/82 12/ 1/82 12/29/82 5.5 3.0 2.8 4.0 5.3 7.5 8.9 9.3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 24.5 23.5 21.0 26.0 22.0 18.1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS TOTAL TIME DEPOSITS^ ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 870 860 NOV. DEC. 844.5 850 843.6 844.9 856.8 865.3 840 830 820 610 800 790 780 770 760 750 740 730 720 0 JAN FEB OCT 1981 NOV 1982 LATEST DATA PLOTTED WEEK ENDING: DECEMBER 29, 1982 1/ SAVINGS DEPOSITS PLUS SMALL TIME DEPOSITS PLUS LARGE TIME DEPOSITS TOTAL TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 12/30/81 3/31/82 5/26/82 6/30/82 7/28/82 9/1/82 16.5 16.7 17.4 16.6 15.2 13.8 12.2 12.2 18.3 19.2 17.5 15.3 13.3 1 1 .2 11.3 19.6 16.7 13.8 1 1.3 9. 1 9.4 16.3 12.4 9.6 7.2 7.9 8.2 6.0 4. 1 5.5 2.6 1.4 3.7 9/29/82 10/27/82 TO THE AVERAGE OF FOUR WEEKS ENDING: 5/26/82 6/30/82 7/28/82 9/ 1/82 9/29/82 10/27/82 12/ 1/82 12/29/82 i r 0.2 3.6 4.7 - http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. 9 LOUIS 10 SMALL TIME DEPOSITS 1/ COMMERCIAL BANK SAVINGS DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 450 BILLIONS OF DOLLARS 450 z E----- 1--------- 1------- 1------- 440 430 420 410 400 390 =l_ COMPOUNDED ANNUAL R = OF CHANGE, AVERAGE DF = THE FOUR WEEKS END 1 MG — DECEMBER 29, 1982 F Z THE FOUR WEEKS END 1 MG: ETOCT. — SEP. — SEP. Z Z_ Z z JUL. JUN. MAR. DEC. 27, 29, 1, 28, 30, 31, 30, 1982 1982 1982 1982 1982 1982 1981 -9. -9. -5. 0. : 4. 10. 12. 440 z z E SMALL TIME DEPOS TS = E \ z E z = E E i982 BILLIONS = Z .24 DEC . 1 8 -E z _z 1 il 407.9 407.3 406.5 ill:° M 1 1 350 330 in. 0 111 111 iiii 111 111 Mill 111 in 1111 jjjJ 1 200 195 190 185 180 175 170 E= E~~ = =~ 145 0 1 1 111 i E E = i | i E SAVIN GS DE 30S1TS / E E = E 1 E 1962 ‘ NOV . 24 DEC . 1 64.4 64.4 ’1 “= = |§'f NOV 2 16 30 DEC 1981 IS JAN 111 Mill 27 10 2A FEB 111 10 24 7 MAR APR LATEST DATA PLOTTED WEEK ENDING: 21 in 5 19 MAY 1111 2 16 JUN DECEMBER 29. 30 mi 111 14 28 JUL 1982 11 AUG 1111 25 8 22 SEP j_uJ 6 20 OCT 111111111111; 3 17 NOV 1 IS DEC 29 12 26 JAN 1983 1982 1/ COMMERCIAL BANK TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN $100,000. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 195 190 185 180 175 170 160 155 150 145 140 = XLL iiii ■i..i i 205 165 E — BILLIONS — ' E 18 0 200 = E- OCT. 27, 1982 140. = SEP. 29, 1982 94. = SEP. 1,1982 68. E_ JUL. 28, 1982 47. = JUN. 30, 1982 34. - MAR.31. 1982 20. E DEC. 30, 1981 18. 4 340 = 210 i f 140 135 M COMPOUNDED ANNUAL R \TES OF CHANGE. AVERAGE DF THE FOUR WEEKS END 1 MG DECEMBER 29, 1982 F ^OM THE FOUR WEEKS END 1 MG: 155 150 350 BILLIONS OF DOLLARS 215 165 160 360 1982 BILLIONS OF DOLLARS 215 205 -= 370 330 1111 LATEST DATA PLOTTED WEEK ENDING; DECEMBER 29, 210 400 390 380 370 340 420 410 380 360 430 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 135 0 BORROWINGS FROM FEDERAL RESERVE BANKS AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS 1983 BILLIONS OF DOLLARS MILLIONS IT DEC. =L JAN. 2 JAN FEB APR 16 30 14 28 11 25 1 15 29 12 26 MAY 1983 LATEST DATA PLOTTED WEEK ENDING-. JANUARY 5, 1983 BUSINESS LOANS u (COMMERCIAL AND BILLIONS OF DOLLARS INDUSTRIAL) WEEKLY REPORTING LARGE COMMERCIAL SEASONALLY ADJUSTED BY THIS BANK BANKS 2/ BILLIONS OF DOLLARS 224 Z COMPOUNDED ANNUAL RATES - OF CHANGE, AVERAGE OF - THE FOUR WEEKS ENDING Z DECEMBER 29, 1982 FROM - THE FOUR WEEKSENDING-. - Z OCT. 27, Z ~ - SEP. SEP. JUL. JUN. MAR. DEC. 29, 1 , 28, 30, 31 , 30, 1982 1982 1982 1982 1982 1982 1981 -11.3 -6.3 -0.1 0.7 2.2 9.0 11.7 220 216 - 212 ' 208 204 200 188 MILLIONS NOV. 24 184 213,897 215,091 213,901 213,497 180 176 212,819 111 J 1 2 16 30 13 27 10 24 10 24 7 21 APR 2 16 30 14 28 II 25 8 22 MAY i 1 I I I I I I 6 20 3 OCT NOV 17 1983 LATEST DATA PLOTTED WEEK ENDING: DECEMBER 29, 1982 1/ BUSINESS LOANS INCLUDE BANKERS’ ACCEPTANCES AND COMMERCIAL PAPER. 2/ BANKS WITH DOMESTIC ASSETS OF *750 MILLION OR MORE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 0 12 LARGE TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS ILL IONS OF DOLLARS 290 BILLIONS 285 280 275 270 265 260 245 240 APR MAY LATEST DATA PLOTTED WEEK ENDING-. DECEMBER 29, JUL AUG OCT NOV 1982 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. TIME DEPOSITS ISSUED IN DENOMINATIONS OF $100,000 OR MORE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
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