Full text of U.S. Financial Data : June 19, 1986
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RESEARCH LIBRARY Federal Reserve Bank °m^L f nancial Data JUN 2 4 1986 June 19, 1986 From this time last year to April 1986, interest rates generally declined. Long term rates fell dramatically, dropping 299 basis points from the week ending June 21, 1985, to the week ending April 18, 1986. Short-term rates declined much less, with the three-month Treasury bill rate falling 97 basis points over the same period. As the table below shows, the spreads between the yield on three-month Treasury bills and those on longer-term Treasury securities fell substantially over much of the past year. In the last two months, however, these trends have been reversed, with interest rate spreads increasing as longer-term rates have increased more rapidly than short-term rates. Since April 18, for example, the three-month Treasury bill rate has risen 26 basis points, while the long-term Treasury securities rate has risen 70 basis points. Spread Between Interest Rates on Selected U.S. Treasury Securities and the Three-Month Treasury Bill Rate (basis points) Week ending 6-month Treasury bill 1-year Treasury bill 5-year Treasury securities Long-term Treasury securities 6/21/85 4/18/86 6/20/86 9 9 8 33 1 9 269 96 136 360 158 202 —Richard G. Sheehan RESERVE RANK of 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 OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS 240 ---------- ,------------- ,------ BILLIONS OF DOLLARS ------------------------------- 248 billions 240.0 239.6 241.9 241.7 *“ MAY 243.8 10 24 a 22 5 19 5 17 31 14 29 II AUG 25 9 29 SEP 6 20 4 18 NOV DEC 1 15 29 12 20 12 20 FEB 9 29 MAR 7 21 4 MAY JUN 18 LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING* JUNE 18, 1986 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 1 AND AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES. THE MAJOR SOURCE OF THE ADJUSTED MONETARY S FEDERAL RESERVE CREDIT. DATA ARE COMPUTED BY THIS BANK. A DETAILED DESCRIPTION OF BASE THE ADJUSTED MONE tSy BASE IS AVAILABLE FROM THIS BANK. RECENT DATA ARE PRELIMINARY. ADJUSTED MONETARY BASE COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF TWO MAINTENANCE PERIODS ENDING* 6/19/85 9/11/85 11/20/85 12/18/85 1/15/55 2/12/88 5/12/86 4/23/86 TO THE AVERAGE OF TWO MAINTENANCE PERIODS ENDINGt 11/20/85 12/18/85 1/15/86 2/12/86 3/12/86 4/23/86 5/21/86 6/18/86 6.9 8.0 7.3 7.2 7.8 7.3 7.6 8. 1 4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 6.9 6.0 6.0 7.1 6.6 7. 1 7.8 8.4 7.7 8.9 7.7 8.3 9.0 4.5 7.2 6.3 7.2 8.3 9.5 7.3 8.2 9.3 7.7 8.8 10.0 7.2 9.2 12.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS r MONEY STOCK (Ml ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS BILLIONS 670 654.6 656. I 658.8 660.5 660 666.9 650 640 650 620 610 600 590 I 15 29 IS 27 10 24 5 22 5 19 2 10 SO 14 29 II 25 OCT 9 23 NOV 6 20 9 17 JAN FEB S 17 91 1985 LATEST DATA PLOTTED WEEK ENDING. JUNE 9, 14 29 12 20 APR 1986 9 29 MAY 1986 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE. Ml IS THE SUM OF CURRENCY HELD BY THE NONBANK PUBLIC, DEMAND DEPOSITS, OTHER CHECKABLE DEPOSITS AND TRAVELERS CHECKS. MONEY STOCK (Ml ) COMPOUNDED ANNUAL RATES OF CHANGE 6/10/85 9/9/85 11/11/85 12/9/85 AVERAGE OF FOUR WEEKS ENDING: 1/6/86 2/10/86 3/10/86 14.6 15.8 17.8 17.2 19.5 4/7/86 TO THE AVERAGE OF FOUR WEEKS ENDING. 11/11/85 12/ 9/85 1/ 6/86 2/10/86 3/10/86 4/ 7/86 5/12/86 6/ 9/86 12.7 13. 1 12.8 10.9 11.1 1 1.5 12.2 13. 1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10.5 10.7 8. 1 8.8 9.8 10.9 12.3 13.2 7.9 9.0 10.4 1 1.8 13.4 4.7 7.1 9.3 11.1 13. 1 5.4 8.7 11.1 13.5 20.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4 MONEY MULTIPLIER^ CURRENCY COMPONENT OF MONEY STOCK 2/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO 2.9 RAT IQ 2.673 APR. 2.693 2.721 2.705 Ml MULTIPLIER 4 MAY JUN OCT LATEST DATA PLOTTED TWO WEEKS ENDING: JUNE 2. 18 2 16 30 NOV 13 27 JAN 10 24 10 24 7 21 FEB 1986 BILLIONS OF DOLLARS BILLIONS OF DOLLARS 178 COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF THE FOUR WEEKS ENDING JUNE 9. 1986 FROM THE FOUR WEEKS ENDING: APR. MAR. FEB. JAN. DEC. — JUN 7, 1986 10, 1986 10, 1986 6, 1986 9, 1985 9. 1985 10, 1985 7.2 7.4 6.9 7.6 7.4 7.2 7.6 176 174 172 CURRENCY 170 .1986 BILLIONS 175.3 175.5 175.7 176.2 176.3 176.5 1 1 II I 1 1 J 1 1 LLLLLLL MAY JUN LATEST DATA PLOTTED WEEK ENDING: JUNE 9, OCT NOV JAN FEB APR 1986 MAY 1986 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 164 162 TOTAL CHECKABLE DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED billions of dollars billions of dollars 473.2 474.5 477.0 478.2 480.9 484.3 1 15 29 13 27 10 24 MAY 5 22 5 10 2 15 50 14 28 II OCT JUN LATEST DATA PLOTTED WEEK ENDING. JUNE 8, 25 0 25 NOV 6 20 3 17 JAN FEB 3 17 31 14 28 APR 12 25 0 23 MAY 1986 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 6/10/85 9/9/85 11/11/85 12/9/85 AVERAGE OF FOUR WEEKS ENDING: 1/6/86 2/10/86 3/10/86 17.7 19.5 22.3 21.2 24.4 4/7/86 TO THE AVERAGE OF FOUR WEEKS ENDING: 11/11/85 12/ 9/85 1/ 6/86 2/10/86 3/10/86 4/ 7/86 5/12/86 6/ 9/86 14.5 15.2 14.9 12.0 12.4 13. 1 14.0 15.3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12.2 12.5 8.5 9.6 10.9 12.5 14.3 16.2 8.0 9.8 1 1.6 13.6 15.9 3.4 7.1 9.9 12.7 15.4 4.4 8.9 12.5 15.8 26.6 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 6 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES PERCENT 13.0 CORPORATE Aaa BONDS PRIME BANK LOAN RATE MUNICIPAL BONDS 90 DAY COMMERCIAL PAPER 5 10 3 17 31 14 28 12 26 9 23 6 20 4 SEP OCT 18 1 15 29 13 27 10 24 7 21 FEB 4 MAR 18 2 16 30 13 27 APR 1985 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt JUNE 20, 1986 APR. 4 1 1 18 25 MAY 2 9 16 23 30 JUNE 6 13 20 * 27 90 DAY CD'S 30-DAY COMMERCIAL PAPER 90-DAY BANKERS' ACCEPTANCES CORPORATE Aaa BONDS 7.02 6.62 6.44 6.47 6.56 6.53 6.64 6.75 6.71 6.83 6.81 6.68 7.22 6.83 6.57 6.57 6.67 6.66 6.73 6.76 6.75 6.83 6.82 6.80 6.82 6.48 6.32 6.47 6.47 6.41 6.59 6.65 6.63 6.76 6.65 6.55 8.74 8.75 8.66 8.90 8.97 8.98 9. 12 9. 17 9. 14 9.29 9. 19 9.07 CORPORATE Baa BONDS 1986. MUN1C1 PAL BONDS ae* 10.28 10.24 10. 13 10. 13 10.20 10. 16 10.29 10.37 10.37 10.47 10.43 10.29 7. 15 7.25 7. 16 7.22 7.33 7.36 7.53 7.78 7.70 7.97 8.08 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 12.0 PERCENT 12.0 r~ — 5-YEAR TREASURY SECURITIES DISCOUNT RATE 3-MONTH TREASURY BILL 5 10 3 17 31 M 28 12 26 JUN JUL 9 23 6 20 4 SEP OCT 18 I 15 20 13 27 10 24 7 21 FEB 4 MAR 18 2 16 30 13 27 APR LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK END INGt JUNE 20. 1986. 1986 APR. 4 11 18 25 MAY 2 9 16 23 30 JUNE 6 13 20 * 27 FEDERAL FUNDS XX 3-MONTH TREASURY BILL 6-MONTH TREASURY BILL XXX 1-YEAR TREASURY BILL 5-YEAR TREASURY SECURITIES LONG-TERM TREASURY SECURITIES 7.39 7.05 6.97 6.92 6.88 6.87 6.82 6.87 6.85 6.95 6.89 6.87 6.31 6.07 5.84 6.03 6. 1 1 6.05 6.14 6.20 6.24 6.42 6.29 6. 10 6.32 6. 17 5.93 5.87 6. 14 6.09 6. 10 6.28 6.21 6.41 6.39 6. 18 6.27 6.03 5.85 6.08 6. 17 6. 10 6.24 6.33 6.37 6.55 6.43 6.19 7.22 7.04 6.80 7. 10 7.21 7.19 7.58 7.78 7.70 8.02 7.83 7.46 7.66 7.62 7.42 7.81 7.80 8. 10 8.26 8.61 8.50 8.12 N0TEl ,N THE BOARD OF GOVERNORS' H.15 RELEASE EXCLUDING LONG-TERM TREASURY * AVERaIe^OF^ATE^AVAILABLE0^0'60 BY ™IS BANK' TREASURY BILL VELDS ARE ON A DISCOUNT BASIS. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis en0,ng two days earlier than oate shown PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 7 8 COMMERCIAL BANK SMALL TIME DEPOSITS^ LARGE TIME DEPOSITS*/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS -------------r---------- 1---------- 1------------" 1986 BILLIONS. - 1 JUN 386.5 385.7 384.9 383.9 383. 1 382.0 — 1 - 5 12 19 26 2 9 1 MAY 1 _ 395 395 SMALL TIME )EP0S TS _ W. in 111 1111 111 1 1 1 1 111 XULATEST DATA PLOTTED WEEK ENDING: JUNE 9, 1986 1111 in 1 1 1 IXL 1 1 1 1 BULLS NS ,1 lti:° - 19 26 2 9 281. 280.2 279.1 279.4 - - JUN. 1 LL XLLL ~ III! 1EP0SI lLJ / llll LARGE TIME > H U .X L L L 1586 -“*Y 375 BILLIONS OF DOLLARS 295 BILLIONS OF DOLLARS 295 -------------1---- ------ 1---------- M il' / ____ ” = TTTT ; -L U X 275 265 i i i 1 1 1 1 1 1 1 111 AUG 1985 SEP OCT NOV INI. 1 1 1 111 i m FEB MAR 15 29 13 27 10 24 APR MAY JUN JUL DEC JAN 1 1 1 XLL XLLL APR 1986 LATEST DATA PLOTTED WEEK ENDING* JUNE 9. 1986 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 btASONALLY ADJUSTED ILL IONS OF DOLLARS 10 ------------- 1---------- 1------ ILL IONS OF DOLLARS —|---------- -------------- 810 798.0 796.5 794.0 792.0 791 .8 1 15 29 15 27 10 24 8 22 5 19 2 16 50 14 28 11 OCT 25 9 25 NOV 6 20 5 17 JAN FEB 5 17 51 14 28 12 26 APR 9 25 MAY LATEST DATA PLOTTED WEEK ENDING: JUNE 9, 1986 TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS. SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS. TOTAL TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, 6/10/85 9/9/85 11/11/85 12/9/85 AVERAGE OF FOUR WEEKS ENDING: 1/6/86 2/10/86 3/10/86 4/7/86 TO THE AVERAGE OF FOUR WEEKS ENDING: 11/11/85 12/ 9/85 1/ 6/86 2/10/86 3/10/86 4/ 7/86 5/12/86 6/ 9/86 1.3 1 .9 2.9 5.2 4.4 3.9 3. 1 2.1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 5.2 6.2 9. 1 7.4 6.2 4.7 3.2 7.7 12. 1 8.7 6.7 4.6 2.7 15.2 9.6 6.9 4.5 2.2 9.5 6.1 3.3 0.9 -1.6 -2.4 -4.0 -2.6 -4.7 -8.1 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 10 BORROWINGS FROM FEDERAL RESERVE BANKS AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS BILLIONS OF DOLLARS TOTAL BORROWINGS II I I LATEST DATA PLOTTED WEEK ENDING* JUNE 18, 1986 BILLIONS OF DOLLARS BILLIONS OF DOLLARS 2.5 ---------- 1------------- 1-----1986 MILLION. ------ JUN. “"ADJUSTMENT ♦ SEASONAL BORROWINGS 3 17 I APR MAY 19 29 12 26 10 24 JUN JUL 2 16 30 13 27 7 21 AUG SEP OCT NOV II DEC 25 • 22 5 19 9 19 2 16 90 14 29 11 MAY 29 JUN 1985 LATEST DATA PLOTTED WEEK ENDING* JUNE 18, 1986 1/ 95.767 FOR 11/27/85 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS COMMERCIAL PAPER OF NONFINANCIAL COMPAN IES BILLIONS OF DOLLARS 90 ---------- ,------------- ,----- MAY 7 JUN. 4 3 17 I NOT SEASONALLY ADJUSTED BILLIONS OF DOLLARS 82,667 15 29 12 26 10 24 7 21 4 18 AUG SEP 2 16 30 13 27 NOV II 25 8 22 DEC 5 19 5 18 FEB MAR 2 16 30 14 28 11 25 LATEST DATA PLOTTED WEEK ENDINGt JUNE II, 1986 BUSINESS LOANS v (COMMtKCIAL AND INDUSTRIAL ) WEEKLY REPORT ING LARGE COMMERCIAL BANKS 2/ SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS 265 ---------- ,------------- ,----- BILLIONS OF DOLLARS ------------------------------- 265 COMPOUNDED ANNUAL RATES “ OF CHANGE. AVERAGE OF THE FOUR WEEKS ENDING - JUNE 4. 1986 FROM THE FOUR WEEKS ENDINGt - APR. MAR. _ FEB. JAN. DEC. “SEP. JUN. 2, 1986 5, 1986 5, 1986 1, 1986 4, 1985 4, 1985 5. 1985 0.6 4.1 6.3 6.1 4.8 3.9• 2.1 MILLIONS APR. 30 MAY 7 260,261 262,101 JUN. 3 17 I 15 4 .11.1 1 I 12 28 10 24 7 21 AUG 1985 4 18 2 16 30 13 27 11 SEP NOV 25 8 22 5 18 5 19 259,030 260,722 LU.1 I 1 2 16 30 14 28 11 DEC MAY 25 JUN igse LATEST DATA PLOTTED WEEK ENDING: JUNE 4. 1986 1/ BUSINESS LOANS INCLUDE BANKERS* ACCEPTANCES AND COMMERCIAL PAPER. 2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 61.4 BILLION http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11