Full text of U.S. Financial Data : July 9, 1987

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ancial Data
JYJL 13 B87

ju|y 9, 1987

THE WEEK'S HIGHLIGHTS:
Ml decreased by $7.7 billion during the week ending June 29. A
marked slowing in Ml growth began in January of this year (see
page 3).
is

June domestic auto sales were 7.2 million units at a seasonally
adjusted annual rate, up from 6.8 million units in May.

v*

The spread between long-term Treasury securities and 3-month
Treasury bills has narrowed in recent weeks to about 290 basis points
from its level of 342 basis points in the week ending May 22 (see
page 7). This spread averaged 260 basis points from 1982 through
1986.

v*

M2 increased at a 3.4 percent annual rate over the first five months
of this year. This compares to a 9 percent annual rate of increase
for all of last year. M3 growth was 4.7 percent and 8.8 percent over
the above periods.

ts

Consumer credit declined in May to $583 billion from a revised April
level of $583.6 billion. The April level was revised up from the
previous estimate of $582.8 billion.

niK

FKDKKVI
J KKSKKW
>5
ISAN hot

si. inns

Digitized forviews
FRASER
expressed do not necessarily reflect official positions of the Federal Reserve System.
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Federal Reserve Bank of St. Louis

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

ILL IONS OF DOLLARS
1887

2l

BILLIONS OF DOLLARS

BILLIONS

&?•
JUN.

*3

jul.

T falls

iiI:S

IpiT

11111111

r ii
MAY

i n
JUN

i is jo is ir io n i 22
JUL
AUG SEP
OCT

» 13

NOV

3 IT 31

DEC

14 23 II

JAN

23 II 23

FEB

MAR

• 22

APR

1986

3 20

3

MAY

JUN

17

I

IS 23

1887

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING) JULY I, IS87
IAL INSTITUTIONS AT FEDERAL

AND IN THE VAULTS
OF ALL
<TgtegMA$
a*"" rE0^ALR^VER^^^A^°ECSSli5lL
$ SHUTF
Mf*
A DETAILED DESCRIPTION “
OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM THIS BAW
RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING
7/2/86

10/8/86

12/3/86 12/31/86

1/28/87

2/25/87

3/25/87

5/6/87

4. 1
6.0
5.5
4.3

7.6
6.4
4.8

6.6
4.3

1.2

TO THE AVERAGE OF

12/ 3/86
12/31/80
1/28/B7
2/25/87
3/25/87
5/ 6/87
6/ 3/87
7/ 1/87

9.6
10.0
10.9
9.8
9.4
9.3
8.6
8.0


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Federal Reserve Bank of St. Louis

12.8
13.8
1 1.3
10.5
10. 1
9.3
8.2

14.7
10.3
9.3
9.1
8.2
6.9

9.2
8.2
8.3
7.5
6.1

PREPARED BY FEDERAL RESERVE BAMC OF ST. LOUIS

MONEY STOCK (Ml )
BILLIONS

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

of dollars

ififiZ.
MAY
JUN.

5 19

25
I

billions of dollars

BILLIONS
758.0
753.7

2 16 90 14 M II 28

• 22

6 20

3 17

OCT

NOV

19 20 12 20

JAN

0 23

FEB

0 23

6 20

4 18

APR

MAY

I

IS 20 13 27

LATEST DATA PLOTTED WEEK ENDINBt JUNE 20. 1067
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
DEPollTS*A^TRAVELErI^CHEOS0 °Y THE N0NBANK pueuc- DEMAND DEPOSITS. OTHER CHECKABLE

MONEY STOCK (Ml)

COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING*.
0/30/80

0/20/80

17.0
19.9
18.4
15.9
14.7
15.0
14.1
11.7

24.0
20.2
15.8
14.0
14.6
13.4
10.3

12/1/80 12/20/80

1/26/87

3/2/87

3/30/87

4/27/87

11.7
3.2

-2.8

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
12/ I/B6
12/20/80
1/26/87
3/ 2/87
3/30/87
4/27/87
6/ 1/87
B/20/87


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Federal Reserve Bank of St. Louis

22.3
14.0
11.8
12.9
11.7
8.0

4.9
4.8
7.8
7.6
4.0

3.2
7.5
7.4
3.2

11.2
9.5
3.5

PREPARED BY FEDERAL RESERVE BAKK OF ST. LOUIS

3

4

MONEY MULTIPLIERS
CURRENCY COMPONENT OF MONEY STOCK*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

1087

RATIO
yI MULTIPLIER

5 19

2 It 90 14 29 II 18

JUL

t 22

AUG

6 20

3 17

OCT

NOV

I

15 20 12 20

JAN

0 23

0 23

0 20

1

15 29 13 27

1087

LATEST DATA PLOTTED TOO WEEKS ENDING: JUNE 29,

1987

BILLIONS OF DOLLARS
106
—
_ COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
“ THE FOUR *EEKS ENDING
102
FOU* WEEKS END 11

I

4 It

FEB

1066

BILLIONS OF DOLLARS
196

1----- 1----- 1-----1------

192

i?

s ip w

1111 1 111

1. 27

t.

30

1087
1087

mi

r

1086
1986
1086

7.2

-

§.<

6.2

i=

CURRE NCY

-

184

184
—

“

—

1asz

BILLIOta

188:1
i lit:!

176

111
0 10

mi

MAY

JUN

in

-LLL

JUL

AUG

It 30 14 20 II

2S

mi
• 22

SEP

-LLL .LLL
6 20

OCT

3 17

NOV

=

-LLL II II n 11 n 11 n n i n i‘
n
n 20-LLL
I IS
12 20 0 23 0 23 6 20 4 It
I IS 20 13 27
DEC

JAN

FEB

MAR

APR
1987

MAY

JUN

JUL

LATEST DATA PLOTTED WEEK ENDING* JUNE 29, 1967
1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

176

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

8 It

a It 80 14 28 II 28
JUL

AUG

I n

t 20

8 17

OCT

NOV

18 2t 12 20
JAN

t 29

BILLIONS OF DOLLARS

0 29

FEB

6 20

4 It

APR

MAY

I 18 N 19 27

LATEST DATA PLOTTED WEEK ENDINGi JUNE 29, 1987
TOTAL^CHECKABLE^DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
6/30/88

9/29/SC

20.5
24.8
22.1
18.5
17.0
17.5
16.2
13.0

30.4
24.3
18.0
15.8
16.7
15.1
11.0

12/1/SC 12/29/SS

1/26/S7

S/2/87

3/30/87

4/27/87

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/ 1/86
12/29/88
1/28/87
3/ 2/87
3/30/87
4/27/87
8/ 1/87
8/29/87


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Federal Reserve Bank of St. Louis

26.6
15.2
12.6
14.5
12.7
7.8

2.2
2.8
7.2
6.0
2.4

1.4
7.6
7. 1
1.7

13.2
10.3
2.5

13.0
1 .9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6
YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT
II.0 r—

2 16 30 13 27 II

MAY

JUN

JUL

23

8 22

AUG

8 19

SEP

5OCT
17 SI NOV
14 28 DEC
12 28 JAN
9 23

FEB

MAR

IOW

PERCENT
—| 11.0

APR7

MAY ” JUN ” JUL^

1987

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* JULY 10, 1987.

90 DAY
CD'S
I
22

20
5

12

19

3
10

CORPORATE
AAA BONDS

6.59
6.76
6.78
6.94

6.70
6.77
6.84
7. 16
6.98
6.90
6.83
6.79
6.81
6.75
6.65

9.21
9.21
9.25
9.49
9.40
9.38
9.36
9.29
9.25
9.33
9.30

6.88

26

JULY

90-DAY
BANKERS'
ACCEPTANCES

6.70
6.85
6.89
7.23
7.03
6.99
6.98

8
15
JUNE

30-DAY
COMMERCIAL

6.91

K

6.88

6.74

17
24

PAPER

6.88

6.87

6.86
6.85
6.87
6.82
6.67

CORPORATE
Baa BONDS

10.37
10.45
10.45
10.62
10.58
10.61
10.58
10.48
10.43
10.52
10.53

MUNICIPAL
BONDS K*

7.85
7.86
7.82
8.31
8.03
7.97
7.83
7.63
7.72
7.81
N.A.

31

^VERAaToF^RATES jSJu&lE T*

* 80VERN0BS- » '* RELEASE.

Ml 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

AVERAGES OF DAILY RATES

PERCENT

PERCENT
11.0

7.0

6.0
DISCOUNT RATE

2 16 SO 13 27 11

JUN

25

8 22

S 18

3 IT 31

JUL

14 28 12 26

NOV

9 23

6 20

8 20

3 17

1

15 20 12 26 10 24

DEC

1986

1987

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JULY 10, 1987.

1987
MAY

,
8
15
22
29
JUNE 5
12
19
26
JULY 3
10 K
17
24
31

FEDERAL
FUNIS KK

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILLttBI

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

6.50
7.30
6.75
6.77
6.80
6.65
6.70
6.75
6.79
6.61
6.64

5.69
5.61
5.69
5.68
5.67
5.70
5.55
5.65
5.77
5.68
5.61

6.14
6. 16
5.74
6.34
6.18
6. 10
5.99
5.95
5.93
6.00
5.68

6.31
6.39
6.54
6.71
6.48
6.44
6.36
6.29
6.32
6.25
6.22

7.92
8.09
8.24
8.52
8.23
8. 19
8. 10
7.87
7.91
7.96
7.90

8.63
8.73
8.82
9. 10
8.79
8.85
8.77
8.55
8.58
8.66
8.59

I
<£l

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE EXCLUDING LONG-TERM TREASURY
^..SECURITIESWHICH ARE COMPUTED BY THIS BANK. TREASURY BILL YIELDS ARE ON A DISCOUNT BASIS.
/ERAGES OF RATES AVAILABLE
..........
ENDING TWO DAYS EARLIER THAN DATE SHOWN


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANC OF ST. LOUIS

7

8
COMMERCIAL BANK
SMALL TIME DEPOSITS!/
LARGE TIME DEPOSITS*/
BILLIONS OF DOLLARS
410 ---------- 1------------- ,------

18fil
ft

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS Of DOLLARS

BILL 1 QMS

«

SMALL TIME DEPOSITS

LATEST DATA PLOTTED WEEK END INO: JUNE 20, 1087
BILLIONS OF DOLLARS
320 ---------- ,------------- .------

lfiflZ.

BILLIONS OF DOLLARS
------------------------------- 320

BILLIONS

LARGE TIME DEPOSITS

5 I*
MAY

> IB 30 14 21 II 28 • 22
JUN
JUL
AUO
SEP
1086

8 20
OCT

9 17
NOV

I 19 20 12 20 9 29 0 29
DEC
JAN
FEB
MAR

8 20
APR
1067

4 IB
MAY

I IB 20 19 27
JUN
JUL

LATEST DATA PLOTTED WEEK ENDING, JUNE 20, 1087
1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 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

BILLIONS OF DOLLARS
860

lfifiL

BILLIONS

855

148.0

850
845
840
895
830
825
820
815
810
805

S IS

2 10 90 14 20 II

JUL

25

• 22

AUO

0 20

9 17

OCT

NOV

1

15 20 12 20

JAN

0 29

0 29

FEB

1086

0 20

4 10

APR

MAY

I

15 20 19 27

1987

LATEST DATA PLOTTED WEEK ENDING* JUNE 20, 1087
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 ENDING:
6/30/86

0/20/86

1.1
2.1
3.8
3.9
4.1
4.9
5.4
6.0

2.8
5.8
5.5
5.6
6.6
7.0
7.6

12/1/86 12/20/86

1/26/87

3/2/87

3/30/87

4/27/87

11.1
11.8

11.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
12/ 1/86
12/20/86
1/26/87
3/ 2/87
3/30/87
4/27/87
6/ 1/87
6/29/87


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

11.7
8.8
8.2
0. 1
9.2
0.7

9.4
8.4
0.5
9.5
10.1

5.2
7.6
6. 1
9.0

9.7
9.6
10.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
BILLIONS OF DOLLARS

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK EWINGi JULY 8, 1987
BILLIONS OF DOLLARS
2.5

-

JUN.

-

J JL.

2.5

M il

lfifiZ.

_

BILLIONS OF DOLLARS

MILLIONS

II

|

473

2.0

800
459
ADJUS rMENT ♦ SEAS ONAL
30RR0IVINGS

-

-

-

ji

-U .

1.0

t
1

A,
\A
N
A
\r
"W

jy'"
-LLL -LLL
7 21
MAY

4 IS
JUN

1111 .LLL J.LL 1111
2 IS 90 13 27 10 24 S 22
JUL
AUG SEP
OCT
1988

-LLL
s to
NOV

V 1V/

j

1/

’

----

1111 -LLL -LLL 111
III!
3 17 31 14 2S II 29 II 25 • 22
DEC
JAN FEB MAR
APR
1067

-LLL -LLL HU-

s/

0 20
MAY

3 17
JUN

1 15
JUL

LATEST DATA PLOTTED WEEK ENDINOt JULY 8, 1987


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

JUN.

3

“ JUL.

I

BILLIONS of dollars
95

80,062
90
79,902

80

7 21

4 18

2 16 90 13 27 10 24

MAY

JUN

AUG

8 22

S IS

9 17 91

SEP

14 28 II 25 II

JAN

25

6 22

FEB

6 20

9 17

MAY

JUN

I

18 20

LATEST DATA PLOTTED WEEK ENDINGt JULY 1, 1987

BUSINESS LOANS u
(COMMERCIAL AND INDUSTRIAL)
WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

_ COMPOUNDED ANNUAL RATES
_ OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
” JUNE24. 1987 FROM
“THE FOUA WEEKS ENDINGt '
- APR.
- MAR.
- FEB.
- JAN.
- DEC.
- SEP.
- JUN.

22,
25,
25,
21,
24,
24,
25,

1987
1987
1987
1987
1986
1986
1986

-4.0
-4.2
-7.7
-7.33.3
7.9
6.0

MILLIONS
MAY

20

279,570

JUN.

3

277,607
277,332

- 260

274,510
7 21

4 18

2 16 90 19 27 10 24

MAY

JUN

AUG

8 22

8 19

3 17 91

SEP

14 28 11

JAN

FEB

28 II 25

MAR

LJ8.I 221 1 6I I 20I I I3 I 17I I I1 1 18
MAY

2S

JUN

LATEST DATA PLOTTED WEEK ENDINGt JUNE 24, 1987
1/ BUSINESS LOANS INCLUDE BAKERS' 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