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'©serve Bank
of St. Louis

wi UoS. Financial Data
July 12, 1990

THE WEEK'S HIGHLIGHTS:
is

The Ml money stock rose at a 3 percent rate from the four weeks
ending April 2 to the four weeks ending July 2. In comparison, Ml
grew at a 5.4 percent rate from June 1989 to last March.
The M2 money stock rose at a slow 0.5 percent annual rate over
the past three months, after growing at a 7.2 percent rate over the
previous nine months.

is

The yield on 3-month Treasury bills averaged 7.79 percent for the
week ending July 13, down 11 basis points from the 7.90 percent
average for March. The yield on corporate Aaa bonds averaged 9.27
percent during the latest week, down from 9.37 percent in March.

s

Consumer credit outstanding expanded at a 6.7 percent annual rate
in May, following a 0.7 percent rate of increase in April. Since
December 1989, credit outstanding has risen at a 2.7 percent rate,
compared with a 5.6 percent rate of increase in the second half of
1989.

Views expressed do not necessarily reflect official positions of the Federal Reserve System.


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

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
314

BILLIONS.
305.0
306.9
309.0
307.2

294

I I II
3 17 31

14 28 12 20

JUN

9 23

JUL

0 20

SEP
1989

4 18

I

IS 29 13 27 10 24

4 IB

7 21

FEB

OCT

2

10 30 13 27 11

JUN

MAR

25

JUL

1990

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING; JULY II, 1990
THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
----------------- ------------------- ------- CIRCULATir* ------------------- --------------- ---------------- -...... .......... .............
BANK.

: CRED
A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM THIS BAFK.

RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUhOED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING:
7/12/80

10/4/89 12/13/89

1/10/90

2/7/90

3/7/90

4/4/90

5/10/90

7.9
8.6
8.5
6.9
7.3

6.4
7.2
5.6
6.2

8.9
6.3
7.0

4.9
6.1

4.5

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING:
12/13/89
1/10/90
2/ 7/90
3/ 7/90
4/ 4/90
5/10/90
0/13/90
7/11/90

3.6
5.2
6.2
5.8
6.2
6.5
6.0
6.2


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Federal Reserve Bank of St. Louis

5.8
7.4
6.6
7.1
7.3
6.5
6.8

13.5
9.9
9.9
9.5
8.0
8.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml)
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
025 r~---------- 1---------- 1------

BILLIONS OF DOLLARS

-------- ----- =1

BILLIONS
803.9
808.0
807.5
807.4
809.4
818.2

1

115 29 12 26

MAY

JUN

10 24

7 21

JUL

AUG
SEP
1989

16 30 13 27

OCT

NOV

II

25

DEC

8 22

JAN

5 19

9 19

2

FEB

MAR

APR
1990

16 30 14 28 I I

MAY

25

JUN

9 25

JUL

LATEST DATA PLOTTED WEEK ENDING* JULY 2, 1990
CURRENT OATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE.

DEPoilT^AN^TRAVELERi^CHECKS0 BY THE N0NBANK PUBLICl DEMAND DEPOSITS, OTHER CHECKABLE

MONEY STOCK ( Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
7/3/89

10/2/89

12/4/89

5.0
5.6
4.7
5.7
5.4
5.2
4.5
4.8

6. 1
4.4
6.0
5.5
5.3
4.2
4.6

4. 1
6.9
5.9
5.5
4.0
4.6

1/1/90

AVERAGE OF FOUR WEEKS ENDING:
2/5/90

3/5/90

4/2/90

4/30/90

7.9
6.6
4.0
4.8

3.4
1.3
2.9

0.6
3.0

2.5

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/ 4/89
1/1/90
2/ 5/90
3/ 5/90
4/ 2/90
4/30/90
6/ 4/90
7/ 2/90


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

5.8
4.9
4.6
3. 1
3.9

PREPARED BY FEDERAL RESERVE BAI* OF ST. LOUIS

825

4

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

RATIO
3.0

1

1

1990
APR.
UAY
JUN

16
30
14
28
11
25

RATIO
3.0

1
RATIO
2.651
2.635
2.630
2.642
2.633
2.617

___

2.9

Ml Ml LTIPL IER

1m _LLL -LL.i-1.
1

15 29 12 28 10 24

MAY

JUN

JUL

1.1.1.
7 21

J_LL XJ-LL J-LL I.U_ m i- JXL -LLL
4 18

AUG
SEP
1989

2

IB 50 15 27 II

OCT

NOV

25

DEC

LATEST DATA PLOTTED TWO WEEKS ENDING: JUNE 25,

8 22

JAN

1 m

5 19

5 19

2

FEB

MAR

APR
1990

1 1 1

-l-LL

18 50 14 28 11

MAY

25

JUN

9 25

JUL

1990

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
238

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR *EEKS ENOING
JULY 2. 1990 FROM
THE FOUR WEEKS ENDING:
APR. 30,
APR.
2,
MAR.
5,
FEB.
5,
JAN.
I,
OCT.
2,
JUL.
3,

1990
1990
1990
1990
1990
1989
1989

234

9.1
9.0
9.5
9.6
10.7
8.8
7.5

CURRENCY

1992.
lY

BILLIONS

28

232.6
232.4

I I 1 1 I I I
1

15 29 12 28 10 24

7 21

AUG

I

SEP

LATEST DATA PLOTTED WEEK ENDING: JULY 2,

NOV

DEC

FEB

MAR

MAY

25

9 25

JUN

1990

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

BILLIONS OF DOLLARS

563.6
567.9
567.4
566.4
567. 1
575.9

4

AUG

18

2

IS 30

IS 27

SEP

NOV

II

25

8 22

5 19

5

FEB

DEC

MAR

19

2

16 30

14 28

11

25

9 23

1990
LATEST DATA PLOTTED WEEK ENDING-. JULY 2,

1990

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,
7/3/89

10/2/89

12/4/89

5.5
6. 1
4.0
5.2
4.7
4.4
3.3
3.6

6.3
2.8
4.9
4. 1
3.8
2.4
2.9

0.6
4.9
3.7
3.3
1 .5
2.3

1/1/90

AVERAGE OF FOUR WEEKS ENDING:
2/5/90

3/5/90

4/2/90

0.9
-1.8
0.4

-2.6
0.5

4/30/90

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/ 4/89
1/ 1/90
2/ 5/90
3/ 5/90
4/ 2/90
4/30/90
6/ 4/90
7/ 2/90


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

2.9
2.0
2.0
0. 1
1.2

7.3
5.4
1 .9
3.0

-0. 1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

12.0

5 10

2

16 30 14 28

JUL

11

25

8 22

8 20

3 IT

OCT

AUG

NOV

I

15 20 12 28

JAN

0 23

9 23

FEB

1989

8 20

APR
1990

4

18

MAY

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JULY 13.

1990
MAY

4
1 1
18
25
JUNE
1
8
15
22
29
JULY
6
13 *
20
27

1990.

90 DAY
CD'S

30-DAY
COMMERC1AL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS **

8.56
8.37
8.29
8.29
8.25
8.22
8.21
8.24
8.27
8.24
8.26

8.36
8.26
8.21
8. 19
8. 18
8. 17
8. 18
8.24
8.25
8.23
8.25

8.29
8. 13
8.09
8.06
8.01
7.96
7.99
8.03
8.04
7.98
8.03

9.62
9.54
9.39
9.39
9.38
9.27
9.21
9.26
9.27
9.23
9.27

10.54
10.49
10.36
10.34
10.29
10.21
10. 19
10.24
10.25
10.20
10.24

7.54
7.39
7.29
7.26
7.26
7.21
7.20
7.28
7.27
7.24
N.A.

NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE.
* AVERAGES OF RATES AVAILABLE
** BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL 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

PERCENT

PERCENT
—I 11.0

11.0 i—

'CURITIES

TREASURY

IY BILL
DISCOUNT RATE

5 10

2 16 30 14 28 II

JUL

25

AUG

6 22

6 20

3 17

OCT

NOV

I

13 20 12 28

JAN

0 23

0 23

6 20

4

18

1

IS 20 13 27

FEB

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt JULY IS, 1000.

1900
MAY

4
1 1
18
25
JUhtfE
1
8
15
22
29
JULY 6
13 *
20
27

FEDERAL
FUNDS xx

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL *8I6K

l-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.12
8.20
8.16
8.22
8. 19
8.26
8.30
8.28
8.28
8.33
8.28

7.85
7.74
7.67
7.71
7.74
7.70
7.70
7.74
7.77
7.71
7.79

8.03
7.84
7.68
7.79
7.74
7.62
7.64
7.64
7.67
7.60
7.75

7.94
7.75
7.66
7.64
7.61
7.51
7.50
7.57
7.57
7,49
7.82

9.01
8.79
8.67
8.64
8.52
8.41
8.39
8.47
8.45
8.36
8.49

9. 1 1
8.93
8.78
8.78
8.71
8.58
8.55
8.63
8.63
8.58
8.70

NOTEt CURRENT DATA APPEAR IN THE BOARD OF * GOVERNORS' H.IS RELEASEYIELDS ARE lOonr-tfruotrfaciirv s
* *VER^TTR!fESHA5J!lL«Lf0MPUTED BY ^ SBANKL TREASURY BILL EXCLUDING nT^SC JnT^I
^.S|uCTT0NYAVERAGiE?DISC0UNTK)


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

™ MYS EARLIER THAN 0ATE *"•"

PREPARED BY FEDERAL RESERVE BAAK OF ST. LOUIS

7

8

MONEY STOCK ( M2 )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

3300

3-lLi.LQNS.
_ MAY

3250

— JUL

3257.1
3260.8
3265.7
3269.2
3271.2
3276.1

3250

3200

3200

3175

3150

3125

3125

I

15 28 12 26 10 24

7 21

4 18

AUG

SEP

2 16 50 15 27 11

NOV

25

8 22

5 18

5 18

FEB

DEC

MAR

2 16 30 14 28 11

MAY

25

8 23

JUN

LATEST DATA PLOTTED WEEK ENDING: JULY 2, 1990
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE
M2 IS THE SUM OF Ml. OVERNIGHT RPS ISSUED BY ALL COMMERCIAL BANKS, OVERNIGHT EURODOLLARS ISSUED
TO U.S. RESIDENTS B'V FOREIGN BRANCHES OF U.S. BANKS, MONEY MARKET DEPOSIT ACCOUNTS, SAVINGS AND
SMALL TIME DEPOSITS, AND GENERAL PURPOSE AND BROKER/’DEALER MONEY MARKET MUTUAL FUNDS. FOR MORE
DETAIL, SEE THE H.6 RELEASE.

MONEY STOCK (M2 )
COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING:

7/3/89

10/2/89

12/4/89

1/1/90

2/5/90

3/5/90

7.7
7.7
7. 1
7.3
7.0
6.5
5.5
5.3

7.4
6.4
6.9
6.5
5.9
4.6
4.5

5.6
6.6
6. 1
5.3
3.7
3.6

6.2
5.7
4.8
3.0
3.0

6.8
5. 1
2.7
2.8

3.2
0.8
1.4

4/2/90

4/30/90

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/ 4/89
1/ 1/90
2/ 5/90
3/ 5/90
4/ 2/90
4/30/90
6/ 4/90
7/ 2/90


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

-0.8
0.5

-0.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ALL DEPOSITORY INSTITUTIONS
TOTAL TIME DEPOSITS^
LARGE TIME DEPOSITS v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS

of

dollars

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR *EEKS ENDING
JULY 2, 1990 FROM
THE FO&R WEEKS ENDING:
APR.
APR.

— FEB.

30,
2,
5,
5,
1,
I ,
2,
3,

1990
1990
1990
1990
1990
I
1989
1989

-1.8
- .9
- .9
- .8
- ..8
~
O
-0.8
-0.1

TOTAL TIME DEPOSITS

2070

199G
\Y

BILLIONS
2092.7
>093.1
>093.1
2092.8

28

2040

2067.8
11111ii 1111111111
LATEST DATA PLOTTED WEEK ENDING: JULY 2.

1990

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

iaaa

billions
533.0
533.9
530.7
527.8

LARGE TIME DEPOSITS

I

15 2S

12 26 10 24

7 21

4 18

AUG

SEP

2 16 30 13 27 11

NOV

DEC

25

8 22

5 19

5 19

FEB

MAR

2

16 50 14 28 11

MAY

25

9 23

JUN

LATEST DATA PLOTTED WEEK ENDING: JULY 2, 1990
1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 9100,000 OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
4.5 r----------- 1---------- 1------

1M

MILL. LANS.
I3

I

JUL.

BILLIONS OF DOLLARS
---------------------------- n

1537

4

587

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDING: JULY II, 1990
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

6
13

442
1021

ADJUSTMENT + SEASONAL
BORROWINGS
____

3 17 31

MAY

14 28 12 26

JUN

JUL

0 23

6 20

AUG
SEP
1989

4

IS

OCT

I

IS 20 13 27

NOV

LATEST DATA PLOTTED WEEK EKDINGt JULY 11,


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

DEC

10 24

7 21

7 21

4

JAN

FEB

MAR

APR
1990

IS

2

IS SO 13 27 11

MAY

JUN

25

JUL

1990

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

^i

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
-------------------- -------- =3 160

148,225

JUL.

3 17 51

MAY

148,000
147,800

4

14 28 12 28

JUN

JUL

9 23

AUG
10

0 20

4 18

I

SEP

OCT

NOV

IB 29 13 27 10 24

DEC

JAN

7 21

7 21

4 18

FEB

MAR

APR
1900

2 16 30 13 27

MAY

JUN

11

25

JUL

LATEST DATA PLOTTED WEEK ENDING: JULY 4, 1900

BUSINESS LOANS u

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

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
336

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR llfEEKS ENDING
JUNE 27, 1990 FROM
THE FOUft WEEKS ENDING; _
332
APR.
MAR.
FEB.
JAN.
DEC.
SEP.
JUN.

25,
28,
28,
24,
27,
27,
28,

1090
1900
1990
1990
1989
1989
1989

-3.2
0.2
2.4
0.8
0.0
-1.3
1.3

-

MAY

23

JUN.

6

321,923
320,192
321,573
320,908
320,395

111i 1 1
3 17 31

14 28 12 28

JUN

9 23

JUL

8

4 18

SEP

OCT

I

LATEST DATA PLOTTED WEEK ENDING; JUNE 27,

18 29 13 27 10 24

7 21

7 21

4 18

FEB

MAR

APR

mm 25
II

2 18 30 13 27

JUN

JUL

1900

1/ BUSINESS LOANS INCLUDE BANKERS’ ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

DOLLAR'S TRADE-WEIGHTED EXCHANGE

INDEX

AVERAGES OF DAILY FIGURES

1873-100
1973-100

92.9

T
MAY

JUN

JUL

AUG
SEP
1989

OCT

NOV

LATEST DATA PLOTTED WEEK ENDING: JULY II,
NOTE:

DEC

JAN

FEB

21

MAR

A 18
APR
1990

2

16 30 13 27

MAY

JUN

11

25

JUL

1990

CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR'S H.IO RELEASE.

DATA ARE WEIGHTED AVERAGES OF THE FOREIGN-CURRENCY PRICE OF THE U.S. DOLLAR, COMPUTED USING
10 INDUSTRIAL COUNTRY CURRENCIES.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

t;

-<


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102