Full text of U.S. Financial Data : July 13, 1995

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' July 13,1995

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St. LOU5S

THE'WEEM HIGHLIGHTS:
✓ Declining food and energy prices caused the producer price index
for finished goods (PPI) to fall at a 0.9 percent annual rate in
June, following no change in May. During the first 6 months of1995,
the PPI has accelerated at a 2.1 percent rate, the same as in the
last 6 months of 1994.

✓ Nonfarm payrolls jumped 215,000 in June, or at a 2.2 percent
rate, after falling 46,000 in May. Payroll employment has risen
at a 1.5 percent rate over the first half of 1995, compared to a
3.3 percent rate over the first half of 1994.

✓ The index of aggregate weekly hours for total private industry
rose at a 10.5 percent rate in June. The index of aggregate hours
declined at a 1.2 percent rate in the second quarter, the first
decline in four years.

✓ Consumer installment credit outstanding increased $11.5 billion
in May, or at a 15.6 percent rate. Consumer installment credit has
risen at a 15 percent rate since December 1994.
On July 7, most major banks lowered their prime lending rate from
9 percent to 8.75 percent. This was the first decline in the prime
rate since July 2, 1992.
All data are seasonally adjusted unless otherwise indicated.

U.S. Financial Data is published weekly by the Research and Public Information Division of the
Federal Reserve Bank of St. Louis. The cost for a subscription is $21 for one year (50 issues) or
$36 for two years (100 issues). For more information or to request an order form, please call
(314) 444-8808 or (314) 444-8809. Sorry, no refunds.
Information in this publication is also included in the Federal Reserve Economic Data (FRED) elec­
tronic bulletin board. You can access FRED with a personal computer and a modem at (314) 621-1824.


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

2
Adjusted Monetary Base
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1995

Billions

Apr 26
May 10
Jun

7

Jul

5

Billions of Dollars

469.3
466.7
466.4

4 18 1 15 29 13 27 10 24 7 21 5 19 2 16 30 14 28 11 25 8 22 8 22 5 19 3 17 31 14 28 12 28
May Jun
Jul
Aug Sep Oct
Nov Dec Jan
Feb Mar Apr May Jun
Jul
T$94

1995

Latest data plotted reserve maintenance period ending: July 5, 1995
The adjusted monetary base is the sum of reserve accounts of financial institutions at Federal Reserve banks,
currency in circulation (currency held by the public and in the vaults of all depository institutions! and 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
available from this bank.
Recent data are preliminary.

Adjusted Monetary Base
lo the average ot
two maintenance
periods ending:
12/7/94
1/4/95
2/1/95
3/1/95
3/29/95
5/10/95
6/7/95
7/5/95

Compounded annual rates of change, average of two maintenance periods ending:
7/6/94

9/28/94

12/7/94

1/4/95

2/1/95

3/1/95

3/29/95

6.2
5.5
6.3
6.4
6.1
6.3
6.2
5.2

4.4
5.9
6.2
5.8
6.1
6.0
4.7

6.5
6.7
6.0
6.3
6.2
4.4

9.5
7.5
7.4
7.1
4.8

5.5
6.2
6.1
3.6

5.8
5.7
2.8

6.6
2.6


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

5/10/95

-0.7

Prepared by Federal Reserve Bank of St. Louis

Money Stock (M1) and Total Checkable Deposits
Averages of Daily Figures

Billions of Dollars

mo

I

I

1995

1170 _

1

M1
Billions

Billions of Dollars
145

1

TCD
1935 Billion.
May 29 763.6
Jun 5 766.9

May 29 1141.2
Jun 5 1144.0
12 1143.8
19 11*F4.8
26 11'1-4.7
Jul 3 11'1-3.0

Jul

19
26
3

76 8.5
76 7.9
76 7.4

125

Ml ( eft sea le)

1150

rz %

>

A

/ ^V

k
\
v

805

/

*N
<

** N
N

1130

'

\

715

,\
/n
/
-

’CD (ri |ht sea e)

1110

\
K
---- ^9

765

—

1090
! If 30 13 17 11 15 ! 12 S 1! 3 17 31 H 2! 1! 21 ! 23 f 10 f 21 3 17
May

Jun

Jul

Aug Sep
1994

Oct

Nov

Dec

Jan

Feb

Mar

1 15 29 12 2f 10 14

Apr
May
1995

Jun

Jul

Latest data plotted week ending: July 3, 1995
Current data appear in the Federal Reserve Board's H.6 release.
Ml is the sum of currency held by the nonbank public, demand deposits, other checkable deposits and travelers
checks.
Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.

Money Stock (Ml)
Compounded annual rates of change, average of four weeks ending:

To the average 7/4/94
of four weeks
ending:
12/5/94
1/2/95
2/6/95
3/6/95
4/3/95
5/1/95
6/5/95
7/3/95

0.1
-0.1
0.3
-0.2
0.1
0.2
-0.5
-0.3


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

10/3/94

-1.2
-0.3
-0.9
-0.4
-0.1
-1.0
-0.8

12/5/94

0.7
-0.7
0.0
0.3
-1.0
-0.6

1/2/95

2/6/95

-0.4
0.4
0.7
-0.9
-0.5

-0.8
0.1
-1.8
-1.2

3/6/95

4/3/95

5/1/95

Prepared by Federal Reserve Bank of St Louis

745

4
Adjusted Reserves
Billions of Dollars

Seasonally Adjusted

Billions of Dollars
1H

1995

Billions

Apr 26 100.8
- May 10 100.0 ■
24 100.8
Jun 7 100.5
21
99.3
Jul 5 99.2

110

106

102

OB

94

SO
4 II 1 IS 2! 17 22 10 20 7 21 5 19 2 If JO 10 21 11 25 ! 22 ! 22 S 19 3 17 71 10 21 12 2f
May Jun
Jul
Aug
Sep Oct Nov Dec Jan
Feb Mar Apr May Jun
Jul
1994
1995
Latest data plotted two weeks ending: July 5, 1995
Adjusted reserves is the difference between adjusted monetary base and currency component of Ml.

Adjusted Reserves
To the average of

Compounded annual rates of change, average of two maintenance periods ending:
7/6/94 9/28/94 12/7/94
1/4/95
2/1/95
3/1/95
3/29/95 5/10/95

periods ending:
12/7/94
1/4/95
2/1/95
3/1/95
3/29/95
5/10/95
6/7/95
7/5/95

-3.4
-4.0
-2.5
0.1
-2.8
-3.2
-2.6
-3.8


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Federal Reserve Bank of St. Louis

-8.7
-5.2
-0.7
-4.8
-5.0
-4.0
-5.4

0.0
7.0
-1.9
-3.0
-2.0
-4.1

15.0
0.0
-2.0
-0.9
-3.5

-3.8
-4.7
-2.8
-5.5

-13.8
-9.0
-10.8

-2.0
-6.5

-6.9

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier1 /
Averages of Daily Figures

Ratio

Ratio

3.1

2.S

2.7

I

Compounded annu 0,
rates of change,
average of the fou
weeks ending
July 3, 1995 from
the four weeks end ing:
Jul 4, 1994 -! .3
Sep 26, 1994 -E .4
Jan 2. 1995 -5 .4
Jan 30, 1995 -4 .8
Feb 27, 1995 -2 .9
Mar 27, 1995 -4 .4
.4

I----

1995

Ratio

Apr 24
May ^8

2.463
2.454

Jun

2. 4-38
2. *52
2. *53

Jul

3.1

5
19
3

2.9

2.7

2.5

2.5

2.3

-M ' r * l ' l •Ml

May

Jun

Jul

Aug Sep
1994

Oct

Nov

Dec

Jan

Feb

Mar

Latest data plotted two weeks ending: July 3, 1995

Apr May
1995

Jun

2.3

Jul

Currency Component of M12/
Averages of Daily Figures

Billions of Dollars

38D

370

300

Billions of Dollars

l
I--------- 1—
Compounded annual
rates of change,
average of the four
weeks ending
July 3, 1995 from
the four weeks ending:
Jul 4, 1994 7.8
Oct 3, 1994 7.7
Jan 2, 1995 7.4
Feb 6, 1995 6.0
Mar 6, 1995 7.3
Apr 3, 1995 4.5
May 1, 1995 2.1

380

370

360

360
199 5

fiilli ons

May 29

36 8.5

12
19
26
Jul 3

367.4 — 340
367.3
367.8
366.6

330

330
May

Jun

Jul

Aug Sep
1994

Oct

Nov

Dec

Jan

Feb

Mar

Apr
1995

May

Jun

Jul

Latest data plotted week ending: July 3, 1995
1/ Ratio of M1 to adjusted monetary base
2/ Current data appear in the Federal Reserve Board's 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

Percent

Percent

Averages of Daily Figures

Corporate

Prime

Municipal Bonds

6 20 3 17 1 15 29 12 26 9 23
May

Jun

18 2 16 30
Nov Dec

Aug
Sep
1994

Latest data plotted are averages of rates available for the week ending: July 14, 1995

1995

30—Day
Commercial
Paper

90—Day
CDs

90—Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

Apr 21
28
5
12
19
26
Jun 2
9
16
23
30
Jul 7
14 *

6.05
6.05
6.07
6.03
6.06
6.05
6.04
6.01
6.05
6.07
6.09
6.01
5.83

6.10
6.09
6.07
6.01
6.03
6.00
5.91
5.88
5.93
5.91
5.91
5.85
5.74

5.99
5.99
5.96
5.91
5.91
5.89
5.82
5.79
5.83
5.81
5.79
5.70
5.63

8.02
8.00
7.89
7.69
7.60
7.51
7.33
7.28
7.37
7.27
7.31
7.29
7.25

8.60
8.57
8.45
8.25
8.15
8.07
7.91
7.87
7.97
7.87
7.91
7.90
7.86

5.96
6.06
6.10
5.96
5.92
5.83
5.79
5.75
5.86
5.82
5.97
5.91
NA

May

Current data appear in the Federal Reserve Board's H.15 release.

* Averages of rates available
•* Bond 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

Percent

Percent

Averages of Daily Figures

Funds Rats
3-Month

17 1 15 29 12 28 9 23
Jun
Jul
Aug Sep

10 24 10 24 7 21
Feb Mar Apr
1995

Latest data plotted ore averages of rates available for the week ending: July 14, 1995

1995
Apr 21
28
5
12
19
26
Jun 2
9
16
23
30
Jul 7
14 *

Federal
Funds **
6.07
5.99
6.05
6.00
6.02
5.99
6.02
6.03
6.02
6.00
5.95
6.21
5.81

3-Month
Treasury
Bill
5.61
5.67
5.65
5.64
5.69
5.69
5.55
5.56
5.48
5.42
5.43
5.43
5.38

1 -Year
Treasury
Bill

5-Year
Treasury
Securities

10-Year
Treasury
Securities

Long-Term
Treasury
Securities

5.80
5.85
5.79
5.65
5.64
5.59
5.38
5.37
5.35
5.29
5.33
5.23
5.15

6.78
7.03
7.36
6.81
7.03
7.33
6.70
6.93
7.21
6.41
6.66
6.96
6.40
6.59
6.89
6.28
6.49
6.81
5.98
6.23
6.59
5.96
6.20
6.55
5.96
6.21
6.59
5.86
6.10
6.49
5.95
6.17
6.53
5.85
6.12
6.51
5.78
6.08
6.45
Current data appear in the Federal Reserve Board's H.15 release excluding long—term Treasury securities
which are computed by this bank. Treasury bill yields are on a discount basis.
* Averages of rates available
** Seven-day averages for week ending two days earlier than date shown
May


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

7

8
Money Stock (M2) and Non-M1 Components of M2
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1995

Billions of Dollars

M2
Billions

May 29 3667.7
Jun 5 3678.3
12 3687.9.
19 3696.3
26 3699.8
Jul 3 3699.8

M2 (left scale)

Non-M1 M2
1995

Non-M1 M2 (right scale)

Billions

May 29 2526.5
Jun 5 2534.3
12 2544.1
19 2551.5
26 2555.1
Jul 3 2556.8

2 16 30 13 27 11 25 8 22 5 19 3 17 31 14 28 12 26 9 23 6 20 6 20 3 17 1 15 29 12 26 10 24
May Jun
Jul
Aug Sep Oct Nov Dec Jan
Feb Mar Apr May Jun
Jul
1995
1994
Latest data plotted week ending: July 3, 1995
Current data appear in the Federal Reserve Board's H.6 release.
M2 is the sum of M1, overnight RPs issued by all commercial banks, overnight Eurodollars issued to U.S. residents
by foreign branches of U.S. banks, savings (including money market deposit accounts), small time deposits
and general purpose and broker/dealer money market mutual funds. For more detail, see the H.6 release.

Money Stock (M2)
To the average

Compounded annual rates of change, average of four weeks ending:
7/4/94
10/3/94 12/5/94
1/2/95
2/6/95
3/6/95
4/3/95
5/1/95

ending:
12/5/94
1/2/95
2/6/95
3/6/95
4/3/95
5/1/95
6/5/95
7/3/95

0.4
0.6
0.9
0.5
1.0
1.2
1.7
2.5


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Federal Reserve Bank of St. Louis

0.4
1.1
0.4
1.1
1.4
2.1
3.1

2.3
0.8
1.8
2.1
2.9
4.0

0.5
1.8
2.2
3.1
4.4

1.2
1.9
3.2
4.8

4.2
5.0
6.6

5.0
7.1

8.7

Prepared by Federal Reserve Bank of St. Louis

t.

Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars
1340 --------- 1--------- —
Saving s
L325 Ell ions
1300 "“May 29 10*54.7
Jun 5 10S58.8
12 10<>1.7
19 10< 2.6

1200

Jul

Billions of Dollars

----- ,-----

1035

Srr all Time
199 5 Billions

3 10^ 8.6

May 29
Jun 5
12
19

912.8
914.4
916.1
917.5

Jul

91 8.8

3

1220

355
915

Savl igs □«

eft sea le)
*
s'

1180

875

"7----S

4

*

1140
s nail Tir no (rig ht seal e)
*■*

1100

—*

835

- —'

785

"

__
10(0

755
May

Jun

Jul

Aug Sep Oct Nov Dec
1994
Note: Savings deposits are at all depository institutions.

Jan

Feb

Mar

Apr
1995

May

Jun

Jul

Large Time Deposits and Money Market Funds1 /
All Depository Institutions
Averages of Daily Figures. Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Large Time
1995 Billions
_ May 29
^
F

Jul

3

Money Market
1995 Billions

383.4 .
387.6
387.7
388.1
387.0
385.0

May 29
Jun 5
12
19
26
Jul 3

410.6 _ Jin
415.5
1/u
423.0
426.2
429.9
436.4

Money Market

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Latest data plotted week ending: July 3, 1995
1/ Large time deposits are those issued in denominations of $100,000 or more.

Money market funds are general purpose and broker/dealer.


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

9

Prepared by Federal Reserve Bank of St. Louis

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars
1995
Jun

7
14
21
28
- Jul 5
12

Billions of Dollars

Billions
0.166
0.133
0.438
0.221
0.451
0.220

4 18 1 15 29 13 27 10 24 7 21 5 19 2 16 30 14 28
May Jun
Jul Aug Sep Oct Nov Dec
1994

11 25 8 22 8 22 5 19 3 17 31 14 21
Jan Feb Mar Apr May
Jun
1995

12 26
Jul

Borrowings include seasonal, adjustment and extended credit; extended credit was $19 million in the week ending
January 25, 1995, $1 million in the week ending July 20, 1994 and was zero in the other weeks shown.

Bank Loans and Credit

v

All Commercial Banks in the United States
Seasonally Adjusted

Billions of Dollars

353d -------- 1--------- 1----------

Billions of Dollars

2620

Bank Credit
1995 Billions

3470

May 24
31
Jun 7
14

3410

2560

3459.4
3471.0
3467.3
3474.8

,

28 34 69.2
t

/

2500

✓

^

(left s

3350

^

*

v“*

/
r

3700

■e—

2380

3230
«■* *■*
✓

3170
*

✓

2440

.

✓

Lc ans an d Leas e8 (rigt t scale )

—'

Loan s&Lea ses
1995 Billiens
May 24 2504.1
31 2515.1
Jun 7 2513.7
14 2515.2
2 1 2516.7
2 8 2521.9

_ L_

3110

4 18 I 15 29 13 27 10 24 7 21 5 19 2 16 3Q 14 28 11 25 8 22 8 22 5 19 3 17 31 14 28 12 26
May Jun
Jul
Aug Sep Oct Nov Dec Jan
Feb Mar Apr May Jun
Jul
1994
1995
Latest Wednesday data plotted : June 28, 1995
Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign-related institutions
2/ Includes loans and leases and securities


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

2320
2260

2200

Commercial Paper of Nonfinancial Companies

Billions of Dollars

1995

Billions of Dollars

Not Seasonally Adjusted

----- ---- 200

Billions

May 31 181.128
Jun 7 181.053
178.957
182.180
5 181.872

Jul

Ml 1 IS 20 11 27 II 24 7 21 5 HI II 30 14 21 11 25 8 22 t 22 5 19 3 17 31 14 21 II 21
May Jun
Jul
Aug
Sep Oct
Nov Dec Jan
Feb Mar Apr May Jun
1995
Latest data plotted week ending: July 5. 1995

Commercial and Industrial Loans

Billions of Dollars

Billions of Dollars

715 ---------r

380

895 - May 24 6 30.5

360

Jun

875 _

31
7
14
21
28

6
6
6<
6
6

b>L»bobb'

r~
All Ban ks
1995 mi ions

340
Lar ge Bar ks (rig it seal

//
----

655
—
^

635

*■*“'

*

<

02/

.^

—■

✓

1995

595
4 II
May

1

15 IS 13 27 10 24 7 21 5 19

Jun

Jul

8

Feb

Mar

Apr
May
1995

300

342.0
342.5
341.7
342.0 —
341.9
342.3

2 IS 30 14 20 11 25 0 22 1 22 S 10 3 17 31 14 I! 12 IS

Aug Sep
Oct
Nov
Dec
Jan
1994
Latest Wednesday data plotted : June 28, 1995
Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign-related institutions
2/ Weekly reporting, domestically chartered banks


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Federal Reserve Bank of St. Louis

rN N

________

1

A3 Banks (left s :ale)1/

615

Billions

May 24
31
Jun 7
4

Jun

Jul

Prepared by Federal Reserve Bank of St. Louis

260

Dollar's Trade-Weighted Exchange Index
1973*100

Averages of Dally Figures

1995 1973=100
Jun

4 18
May

1 15 29 13 27 10 24 7 21 5 19 2 16 30 14 20
Jun
Jul
Aug Sep Oct
Nov
Dec
1994

7

II 25 8 22 8 22 5 19 3 17 31 14 28 12 26
Jan Feb Mar Apr May Jun
Jul
1995

Latest data plotted week ending: July 12, 1995
Current data appear in the Federal Reserve Board's H.10 release.
Data are weighted averages of the foreign-currency price of the U.S. dollar, computed using 10 industrial
country currencies.
Prepared by Federal Reserve Bank of St. Louis


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Federal Reserve Bank of St. Louis