Full text of U.S. Financial Data : July 25, 1991
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JUL 2 9 199T
«2S0j"V3 Ban
of St. Louis
U.S. Financial Data
July 25, 1991
THE WEEK'S HIGHLIGHTS:
✓
The Ml money stock rose at a 7.5 percent annual rate from the four
weeks ending December 17, 1990, to the latest four-week period.
This compares with 4 percent expansion for all of1990.
%/ The M2 money stock grew at a 3.4 percent annual rate over the past
seven months, after increasing 3.2percent in 1990. The 1991 rate
of increase is within the FOMC target range of 2.5 percent and 6.5
percent.
*/
Business loans at weekly reporting large commercial banks for the
four-week period ending July 10 were down at an 8.8 percent an
nual rate from last December.
»/
Orders for durable goods fell 1.6 percent in June, according to the
advance report. Orders during the first six months of the year were
7.8 percent below those for the same period a year ago.
✓
The trade-weighted value of the U.S. dollar rose 12.8 percent from
December to the week ending July 24.
■ nr,
FEDERAL
>RESERVE
XltWkul'
Or ST. UH LS
Views expressed do not necessarily reflect official positions of the Federal Reserve System.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
2
Adjusted Monetary Base
Averages or uaiiy i-igures
Seasonally Adjusted
Billions of Dollars
1991
Billions
May 15
335.4
334.9
335.4
337.5
335.7
339.7
Jun 12
Jul 10
Billions of Dollars
6 20 4 II 1 IS 2! 12 2S 10 24 7 21 S IS 2 16 30 1) 27 11 27 10 21 0 22 5 19 3 17 31 11 20
Jun
Jul
Aug
Sep Oct Nov Dec Jan
Feb Mar Apr May Jun
Jul
Aug
1990
1991
Latest data plotted reserve maintenance period ending: July 24, 1991
The adjusted monetary base is the sum of reservp 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 ratfo changes. The major source of the adjusted monetaiy Base is F<ederal
'
Reserve credit. Data are computed by this bank. A detailed descnption of the adjusted monetary base is
available from this bank.
Recent data are preliminary.
Adjusted Monetsiy Base
Compounded annual rates of change, average of two maintenance periods ending:
To the average of 7/25/90 10/17/90 12/26/90 1/23/91 2/20/91 3/20/91 4/17/91 5/29/91
two maintenance
periods ending:
12/26/90
1/23/91
2/20/91
3/20/91
4/17/91
5/29/91
6/26/91
7/24/91
9/7
12.7
13.2
12.B
10.8
9.9
9.5
9.1
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
12.8
13.7
12.6
10.0
9.0
8.6
8.2
23.2
18.0
12.2
10.1
9.3
8.7
12.3
6.8
6.1
5.9
5.7
2.2
3.3
3.7
3.9
1.4
2.5
3.0
4.9
4.9
4.9
Prepared by Federal Reserve Bank of St. Louis
Money Stock (Ml) and Total Checkable Deposits
Averages of Daily Figures
Seasonally Adjusted
Billions of Dollars
1991
Billions of Dollars
M1
Billions
Jun 10
17
24
Jul 1
8
15
856.5
860.4
858.5 .
861.9
856.9
857.5
M1 (left scale)
TCD
USLL Billion?
Jun 10 591.8
595.2
592.7
Jul 1 595.4
591.5
-TCD (right scale)
< I! ! IS SO I3 17 IS 24 8 22 5 19 3 17 31 14 71 11 IS 11 1!
Jun Jul
Aug
Sep
Oct Nov Dec Jan
Feb War
1990
8 22 6 20
Apr May
Latest data plotted week ending: July 15, 1991
Current data appear in the Federal Reserve Board's H.6 release.
checks'16 SUm °f currency held by the nonbanl< public, demand deposits, other checkable deposits and travelers
Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.
Money Stock (Ml)
To the averaae
, 9ompounc^ annua* rates of change, average of four weeks ending:
Of four weeks 7/16/90 10/15/90 12/17/90 1/14/91 2/18/91 3/18/91 4/15/91 5/13/91
of four weeks
ending:
12/17/90
1/14/91
2/18/91
3/18/91
4/15/91
5/13/91
6/17/91
7/15/91
3.6
3.4
4.8
4.9
5.6
5.1
5.8
5.8
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
1.6
4.5
4.7
5.8
5.0
6.0
6.0
7.9
7.3
8.3
6.7
7.7
7.5
9.4
10.2
7.7
8.6
8.2
8.8
5.8
7.5
7.3
5.8
8.1
7.6
6.5
6.3
Prepared by Federal Reserve Bank of St. Louis
3
4
Money Stock (M2) and Non-M1 Components of M2
Averages of Daily Figures
Seasonally Adjusted
Billions of Dollars
3450
Billions of Dollars
2675
n r
M2
1991 Billions
Jun 10 3400.9
17 3405.1
3400
Jul
2625
A
1 33 96.4
8 33 90.2
15 33 90.5
M2 (l< ft scal<
2575
3330
!
3300
/
.
/sn
3250
3200
x -
\
N
2525
**
/"
Nori-M1 A2
Billie ns
1991
Jun 10 2544.4
17 2544.7
24 2538.0
Jul 1 2534.5
8 2533.3
15 2533.0
....I..,.I...
i on-M1 M2 (rig ht seal 0
N„ ✓
^ \
*
4 1! 2 16 30 13 27 IS 24 ! II 5 11 ] 17 11 14 21 11 25 It 25 I 22 1 20 3 17
Dec Jan Feb Mar Apr May Jun
Jun Jul
Aug Sep Oct Nov
1991
1990
I 15 21 12 21
Jul
Aug
2475
2425
Latest data plotted week ending: July 15, 1991
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, 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:
To the average 7/16/90 10/15/90 12/17/90 1/14/91 2/18/91 3/18/91 4/15/91 5/13/91
ending:
12/17/90
1/14/91
2/18/91
3/18/91
4/15/91
5/13/91
6/17/91
7/15/91
2.3
2.0
2.8
3.2
3.6
3.3
3.4
3.0
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
0.6
2.2
3.1
3.6
3.2
3.3
2.8
4.0
4.9
5.3
4.4
4.3
3.4
6.8
6.8
5.3
4.9
3.9
6.8
4.8
4.4
3.2
3.7
3.6
2.4
2.3
1.1
1.2
Prepared by Federal Reserve Bank of St. Louis
Money Multiplier 1/
Averages of Daily Figures
Seasonally Adjusted
Ratio
Ratio
Compounded annual
rates of change,
average of the four
weeks ending
July 8, 1991 from
the four weeks ending:
Jul 9, 1990 -2.7
Oct 15, 1990 -1.6
Jan 21, 1991 3.0
Feb 18, 1991 4.7
Mar 18, 1991 6.2
Apr 15, 1991 4.5
May 13, 1991 6.9
Ratio
Apr 29
May 13
Jun 10
Jul
4 18 2 16 30 13 27 10 24 8 22 5 19 3 17 31 14 21 11 25
Jun
Jul
Aug Sep Oct Nov Dec
Jan
Feb
1990
8
11 25 8 22 6 20
Mar Apr May
1991
2.522
2.537
2.546
2.545
2.547
2.561
- 2.9
15 29 12 26
Jul
Aug
Latest data plotted two weeks ending: July 8, 1991
Currency Component of M12/
Billions of Dollars
Billions of Dollars
Seasonally Adjusted
Compounded annual
rates of change,
average of the four
weeks ending
July 15, 1991 from
the four weeks ending:
Oct
Jan
Feb
Mar
15,
14,
18,
18,
1990
1991
1991
1991
13, 1991
Feb
Mar
Apr
1991
Billions
Jun 10
256.8
257.3
258.1
258.7
257.i
258.2
May
Latest data plotted week ending: July 15, 1991
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
Prime Bank
Loan Rate
Corporate
Commercial
1 15 29
Jun
Jul
10 24 7 21 5 19 2 16 30 14 20
Aug Sep Oct Nov Dec Jan
1990
Feb
Mar
19 3 17 31 14 28
Apr May Jun
Jul
1991
Aug
Latest data plotted are averages of rates available for the week ending: July 26, 1991
1991
May
3
10
17
24
31
Jun 7
14
21
28
Jul 5
12
19
26 *
90-Day
CDs
30-Day
Commercial
Paper
90—Day
Bankers'
Acceptances
Corporate
Aaa Bonds
Corporate
Baa Bonds
Municipal
Bonds **
5.91
5.91
5.93
5.91
5.90
6.07
6.12
6.03
6.05
6.04
6.02
5.97
5.96
5.93
5.92
5.93
5.91
5.91
6.02
6.10
6.05
6.08
6.06
6.02
5.96
5.93
5.75
5.75
5.76
5.76
5.76
5.91
5.98
5.93
5.94
5.93
5.92
5.90
5.84
8.83
8.83
8.89
8.86
8.87
8.93
9.01
9.05
9.04
9.04
9.04
8.99
8.99
9.83
9.83
9.91
9.89
9.85
9.92
10.00
9.98
9.95
9.91
9.96
9.92
9.89
6.95
6.93
6.94
6.98
6.97
7.06
7.19
7.15
7.13
7.10
7.07
7.04
NA
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
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Prepared by Federal Reserve Bank of St. Louis
Selected Interest Rates
Averages of Daily Figures
5-Year
Treasury Secu
Federal
Funds Rute
Discount
3-j-Month
Treasury Bfl
1 15 28 13 27 10 21 7 21
Jun
Jul Aug Sep
5 18 2 IS 30 14 28
Oct Nov
Dec
11 25
Jan
I 22
Feb
T~r~T ■
' M
' I ■ |‘ ■ I ■ I
I i I
8 22 5 18 3 17 31 14 28 12 26 9 23
Mar Apr May Jun
Jul
Aug
1990
1991
Latest data plotted are averages of rates available for the week ending: July 26, 1991
1991
May
3
10
17
24
31
Jun 7
14
21
28
Jul 5
12
19
26 *
Federal
Funds **
5.92
5.79
5.78
5.79
5.72
5.91
5.75
5.78
5.79
6.34
5.79
5.85
5.75
3—Month
Treasury
Bill
6-Month
Treasury
Bill ***
1 —Year
Treasury
Bill
5-Year
Treasury
Securities
Long-Term
Treasury
5.51
5.48
5.44
5.44
5.46
5.58
5.58
5.58
5.56
5.58
5.57
5.59
5.58
5.68
5.61
5.63
5.66
5.65
5.71
5.78
5.79
5.76
5.71
5.71
5.70
5.72
5.73
5.76
5.76
5.77
5.76
5.92
6.00
5.97
5.96
6.00
5.90
5.92
5.91
7.64
7.69
7.76
7.73
7.66
7.86
7.97
7.95
7.96
7.95
7.97
7.92
7.91
8.23
8.29
8.37
8.34
8.31
8.44
8.54
8.54
8.53
8.49
8.52
8.49
8.48
which are competed by this bank. Treasury bill yields areon a discount bdsis 9
'reasurysecum.es
* Averages of rates available
** Seven-day averages for week ending two days earlier than date shown
*** Auction average (discount)
Prepared by Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
7
8
Savings and Small Time [Deposits
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted
Billions of Dollars
Billions of Dollars
Savings
1991 Billions
Jun 10
17
24
- Jul 1
8
15
437.9
439.2
439.8
440.5
441.5
442.4
Tima (right scale)
Small Time
1991
Billions
Jun 10
17
24
Jul 1
1132.8
1129.9
1127.2
1124.9
8
Savings Deposits (left scale)
4 18 2 16 10 13 27 10 24 8 22 5 18 3 17 31 14 28 II 25 11 25
Aug Sep Oct Nov Dec Jan
Feb Mar
1990
1122.8
15 1119.7
3 17 1
15 29 12 26
Jul
Aug
Apr May
1991
Total and Large Time Deposits1 /
/vi uepuauuiy insiiiuiiuiis
Billions of Dollars
Billions of Dollars
Averages of Daily Figures, Seasonally Adjusted
Large Time
Total Time (left scale)
iaai Bulan
Jun 10 500.7
500.7
Jul
1
493.3
493.1
Time (right scale)
Total Time
1991
2050
—Jun 10
17
24
Jul 1
8
15
Billions
2071.4
2069.8
2063.4
2055.5
2057.6
2055.2
4 II 2 16 30 13 27 10 24 8 22 5 19 3 17 31 14 21 11 25 11 25 8 22 6 20 3 17 1 15 29 12 26
Jun
Jul
Aug Sep Oct Nov Dec Jan
Feb Mar Apr May Jun
Jul
Aug
1990
1991
Latest data plotted week ending: July 15, 1991
1/ Total time is the sum of savings deposits, and small and large time deposits: where large time deposits are
those issued in denominations of *100.000 or more.
Prepared by Federal Reserve Bank of St. Louis
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Money Market Funds
Billions of Dollars
General Purpose and Broker/Dealer
Averages of Daily Figures, Seasonally Adjusted
Billions of Dollars
no
Compounded annual
rates of change,
average of the four
weeks ending
July 15, 1991 from
the four weeks ending
1990
Oct 15, 1990
Jan 14 1991
Feb 18, 199)
1991
Apr 15, 1991
May 13, 1991 -2.8
4 18 2 IS 30 13 27 10 24 0 22 5 10 3 17 31 14 28
Jun
Jul
Aug Sep Oct Nov Dec
Jan
1990
11 25 II 25
Feb Mar
1991
Billions
Jun 10
17
24
Jul 1
8
15
364.8
365.0
364.0
362.7
361.6
360.9
8 22 6 20 3 17 1 15 2! 12 28 '
Apr May Jun
Jul
Aug
1991
Money Market Deposit Accounts
Billions of Dollars
560
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted
Billions of Dollars
l
l
i
Compounded annual
rates of change,
average of the four
weeks ending
July 15, 1991 from
the four weeks ending:
Jul 16. 1990 8.3
Oct 15, 1990 10.1
Jan 14. 1991
Feb 18, 1991
Mar 18, 1991
Apr 15, 1991
May 13, 1991 16.4
560
1991
Billions
Jun 10
17
541.5
543.4
542.8
545.8
1 t~l~r. ’ ' 1 1 1 1 1 1 1 1 1 * 1 1
1 1 * |X t 1 i 1 i »
t
■ r ■ i ■ i ■ i ■ i1 ■ i i
t
I i i i i11 , i i ‘| , , , { , | i 11, , ,
t I! ! 11^ 31 1J 27 1j 21 1^22 5 I) j |J Jl U 21 II 2S II 2S 1 22 6 21 3 17 1 15 2! t! 21
Oct
Nov Dec Jan
Feb Mar Apr May Jun
Jul
Aug
1991
Latest data plotted week ending: July 15, 1991
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Prepared by Federal Reserve Bank of St. Louis
9
1R0
10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures
Billions of Dollars
1.23.1
PJllmag
Jun 19
26
Jul 3
10
17
24
0.264
0.363
0.869
0.332
0.448
0.489
6 20
Jun
Billions of Dollars
4 18 1 15 2J 12 28 10 21 7 21 5 1! 2 16 30 13 27 13 27 10 21 8 22 5 19 3 17 31 11 28
Jul
Aug
Sep Oct Nov Dec Jan
Feb Mar Apr
May Jun
Jul
Aug
1990
1991
Adjustment + Seasonal Borrowings
hrom hederal Reserve banks
Averages of Daily Figures
Billions of Dollars
1991
Billions
Jun 19
26
Jul 3
10
0.258
0.354
0.862
0.329
24
0.485
Billions of Dollars
6 20 1 18 1 15 29 12 26 10 21 7 21 5 19 2 16 30 13 27 13 27 10 21
22 5 19 3 17 31 11 28
Jul
Aug Sep Oct
Nov Dec Jan
Feb Mar Apr May Jun
Jul
Aug
1990
1991
Latest data plotted week ending: July 24, 1991
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Prepared by Federal Reserve Bank of St. Louis
Commercial Paper of Nonfinancial Companies
Billions of Dollars
1991
Billions of Dollars
Not Seasonally Adjusted
Billions
Jun 12 148.393
151.237
148.873
Jul 3 148.849
147.513
IS 1 Jul
17 31 Aug
u n
1990
Latest data plotted week ending: July 17, 1991
Commercial and Industrial Loans’7
Weekly Reporting Large Commercial Banks 2/
Seasonally Adjusted
Billions of Dollars
370
iso
350
340
Billions of Dollars
--------,-------- ,-------
Compounded annual
rates of change,
average of the four
Jun
July 10, 1991 from
the four weeks ending:
Jul 11. 1990 -6.1 Oct 10, 1990 -7.3
Jan 9, 1991 -8.1
Feb 13, 1991 -8.4
Mar 13.
Ap r 10. 1991 -1 2.1
Ma y s. 1991-1 1.3
5
12
19
26
310.090
307.922
309.245
306.910
0 307. 650
360
350
340
330
330
320
320
310
300
370
Billions
1991
310
20 4 11
Jun
Jul
15 2! 12 26 10 24
Aug
Sep Oct
1990
7 211
5 1)
Nov Dec
13 ’ 27 —i—»—i—1 -r i i >'T' r » i' i ■
16 30 13 27
10 24 6 22 5 1)
17 3 14 21
Jan
Feb Mar Apr May Jun
Jul
Aug
19 91
Latest data plotted week ending: July 10, 1991
1/ Commercial and industrial loans include banker's acceptances and commercial paper.
2/ Banks with domestic assets greater than $1.4 billion
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
Prepared by Federal Reserve Bank of St. Louis
11
300
Dollar’s Trade-Weighted Exchange Index
1973=100
Averages of Daily Figures
Jul
6 20 4 18 1 15 2) 12 26 10 24 7 21 5 15 2 16 30 13 27 13 27 10 24
Jul
Aug
Sep
1990
Oct
Nov
Dec
Feb
Mar
3
22 5 19 3 17 31 14 20
Apr
May
1991
Jun
Jul
Aug
Latest data plotted week ending: July 24. 1991
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
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis
@FedFRASER