Full text of U.S. Financial Data : June 21, 1990

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Federal Reserve Bank
of

31.

ttr§HFinancial Data
AUGO 3 1990

June 21,

1990

THE WEEK'S HIGHLIGHTS:
is

Industrial production rose at an 8 percent annual rate in May,
following no change in April. Most of the increase was attributable
to a rise in motor vehicle production, as automobiles were assembled
at an annual rate of 7.5 million units, up from the 6.1 million-unit
pace of April.

ts

Housing starts fell 1.4 percent in May to a seasonally adjusted annual
rate of 1,207,000 units, the lowest pace since October 1982. Starts
thus far in 1990 are 7.7 percent below the pace a year earlier.

ts

The seasonally adjusted merchandise trade deficit (on a customs value
basis) narrowed to $6.9 billion in April. Imports fell 6.2 percent,
while exports declined 3.5 percent. Thus far in 1990, the trade deficit
has totaled $30.7 billion, down from $34.0 billion for the same period
a year ago.

^

The growth rate of real GNP in the first quarter was revised upward
to 1.9 percent from 1.3 percent previously estimated. Net exports
were revised sharply upward.


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2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

132G

BILLIONS OF DOLLARS
310

BILLIONS.

APR.

305. 1

305.9
306.0

MAY

305.0

306.9

5 10

3 17 31

14 28 12 26
JUN
JUL

9 23

8 20
SEP

4 18
OCT

I

13 29 13 27 10 24

7 21
FEB

MAR

APR

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDINGi JUhE 13. 1990
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 AM) IN THE VAULTS OF ALL
THE MAJOR
DEPOSITORY INSTITUTIONS) AND AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES.
SOURCE Or THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDIT.
DATA ARE COMPUTED BY THIS
-------------- ------------------------------------------------------------------------ ONETARY B " ....................................... ........................
BANK.
A DETAILED DESCRIPTION OF THE ADJUSTED MONET,
BASE IS AVAILABLE FROM THIS BANK.
RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE.
AVERAGE OF TWO MAINTENANCE PERIODS ENDING:
6/14/89

9/6/89 11/15/89 12/13/80

1/10/90

2/7/90

7.9
7.8
8.5
6.9

5.8
7.2
5.6

3/7/90

4/18/90

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING:
11/15/89
12/13/89
1/10/90
2/ 7/90
3/ 7/90
4/18/00
5/16/90
6/13/90

3.7
3.6
5.0
5.9
5.6
5.9
6.3
5.8


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4.4
6.5
7.6
6.9
7. 1
7.5
6.7

8.5
9.9
8.2
8. 1
8.5
7.3

13.5
9.9
9.2
9.5
8.0

8.9
6.3

5.3

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

815

805.8
803.2
807. 1
803.9
808.2
807.6

795

1

15 29 12 20 10 24

7 21

4 18

AUG

SEP

2 16 50 IS 27

NOV

11

25

6 22

5 19

5 19

FEB

DEC

MAR

2 10 30 14 28 II

25

LATEST DATA PLOTTED WEEK ENDING: JUNE 11, 1900
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
SEpil.^A^T^viSI^k0 BY THE

PUBL,C' DEMAN° DEP0S,TS' °™ER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING:

6/12/89

/8/90

9/11/89 11/13/89 12/11/89

2/12/90

3/12/90

4/9/90

7.8
4.5
4.0

0.9
1.4

0.8

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/13/89
12/11/89
1/ 8/90
2/12/90
3/12/90
4/ 9/90
5/14/90
6/11/90

4.3
4.3
5.0
4.3
5. 1
4.9
4.3
4.2


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Federal Reserve Bank of St. Louis

5.0
6.1
4.6
5.9
5.5
4.6
4.4

7.0
4.2
6.3
5.6
4.4
4. 1

4. 1
6.8
5.8
4.3
4. 1

5.6
4.7
3.2
3. 1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
3.0

i

r

1990
APR.
MA Y
JU N.

2
16
30
14
28
11

RATIO
3.0

i
RAT 10
2.671
2.651
2.635
2.63
2.64
2.63

Ml MUL TIPLI :r
N_
_

■V
2.6

"in
3 ir
APR

1 1 1 1
1 1 1
1111
I 15 29 12 20 10 24
JUN
JUL
MAY

111
7 21
AUG
1989

1 1 1
4 10
SEP

1 II 1
1 1 1
i 11
1111
2 10 30 13 27 II 25 8 22
OCT
NOV
DEC
JAN

LATEST DATA PLOTTED TWO WEEKS ENDINGt JUNE II,

111
5 19
FEB

1 1 1 1 ■ILL .ILL
5 19 2 16 30 14 28 II 25
MAR
APR
MAY
JUN
1990

-LLL

1990

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
236

_

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
~ THE FOUR WEEKS ENDING
— JUNE 1 I. 1990 FROM
.
jure, i i . 199v ENDING,
THE FOUA WEEKSrnuwi
MAR.
FEB.
— JAN
DEC.
_ SEP.
JUN.

9,
12,
12,
I I
II
12,

1990
1990
1990
1990
1989

10.6
10.7

1989
CURRENCY

1M

BILLIONS
231.8
232.6
232.4
232.3

.U_l.ll 1-1 .L I 1 I I I 1 I I
3 17

1

15 29 12 26 10 24

7 21
AUG
1989

4 18
SEP

2 10 SO 13 27 II 25
NOV
DEC

LATEST DATA PLOTTED WEEK ENDINGt JUNE II,

8 22

5 19
FEB

5 19
MAR

2 16 30 14 28 II 25

1990

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

TOTAL CHECKABLE DEPOSITS
BILLIONS

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

DOLLARS

of

billions of dollars

BILLIONS
567.4
564.7
567.5
563.6
568.0
567.5

1

15 29 12 20 10 24

7 21

4

AUG

SEP

IS

2 16 50 15 27

NOV

LATEST DATA PLOTTED WEEK EMXNG: JUNE If,
DEPOSITORY*^?ITUT?ONSS IS THE SUM

11

25

8 22

5 19

5 19

FEB

DEC

MAR

2 16 50 14 28

II

25

1990

DEMAND DEPOSITS AM) OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOS ITS
COMPOUNDED ANNUAL RATES OF CHANGE
6/12/89

9/11/89 11/13/89 12/11/89

AVERAGE OF FOUR WEEKS ENDING:
1/8/90

2/12/90

3/12/90

4/9/90

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/13/89
12/11/89
1/ 8/90
2/12/90
3/12/90
4/ 9/90
5/14/90
6/11/90

4.5
4.6
5.2
3.5
4.6
4.2
3.3
3.0


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Federal Reserve Bank of St. Louis

5.6
6.4
3.5
5. 1
4.4
3. 1
2.8

7.0
1.9
4.7
3.8
2.2
1.9

0.5
4.6
3.5
1.7
1.5

2.7
1 .8
0.2
0. 1

7.0
2.6
2.0

-2.3
-1.6

-2.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT
12.0 r—

PERCENT

—i 12.0

CORPORATE
Aaa BONDS

APR

19
MAY

2 16 30 14 28 11 25 S 22
JUN
JUL
AUG
SEP
1989

0 20
OCT

3 17
NOV

I

13 29 12 26

DEC

JAN

9 23

FEB

9 23

MAR

6 20

APR
1990

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt JUNE 22,

1990
APR.

6
13
20
27
MAY
4
1 1
18
25
JUNE
1
8
15
22 X
29

4

18

MAY

1

15 29

JUN

1990.

90 DAY
CD'S

30-DAY
COMMERC1AL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS **

8.37
8.35
8.38
8.53
8.56
8.37
8.29
8.29
8.25
8.22
8.21
8.24

8.34
8.30
8.30
8.35
8.36
8.26
8.21
8. 19
8. 18
8.17
8. 18
8.23

8. 17
8. 14
8. 18
8.30
8.29
8. 13
8.09
8.06
8.01
7.96
7.99
8.02

9.38
9.38
9.45
9.59
9.62
9.54
9.39
9.39
9.38
9.27
9.21
9.23

10.22
10. 18
10.29
10.45
10.54
10.49
10.36
10.34
10.29
10.21
10. 19
10.21

7.33
7.31
7.39
7.51
7.54
7.39
7.29
7.26
7.26
7.21
7.20
N. A.

NOTE.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.15 RELEASE.
X AVERAGES OF RATES AVAILABLE
XX BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA
N.A. - NOT AVAILABLE


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PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES

PERCENT
11.0 r—

PERCENT

—i 11.0

RATE

5-Y
TREASURY S :cur ITIES

TREASI IY BILL
DISCOUNT RATE

APR

MAY

I
JUL

AUG

OCT

NOV

IS 2S 12 ?e 0 23
JAN
FEB

0 23

0 20
APR

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JUNE 22,

1990
APR.

6
13
20
27
MAY
4
11
18
25
JUNE
1
8
15
22 X
29

A 18
MAY
1990.

FEDERAL
FUNDS**

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL KXX

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.33
8.25
8.27
8.24
8. 12
8.20
8. 16
8.22
8. 19
8.26
8.30
8.28

7.77
7.78
7.76
7.78
7.85
7.74
7.67
7.71
7.74
7.70
7.70
7.72

7.81
7.80
7.75
7.91
8.03
7.84
7.68
7.79
7.74
7.62
7.64
7.64

7.71
7.70
7.81
7.94
7.94
7.75
7.66
7.64
7.61
7.51
7.50
7.57

8.59
8.60
8.79

8.72
8.72
8.94
9. 13
9. 1 1
8.93
8.78
8.78
8.71
8.58
8.55
8.63

9.01
8.79
8.67
8.52
8.41
8.48

jin HTHfausm.
SiSSH end,ns ™°DAYS EARLIER THAN MTE SH0WN


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BAhK OF ST. LOUIS

7

8

MONEY STOCK ( M2 )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
3300 ---------- 1------------- 1—

BILLIONS OF DOLLARS
------ ---------------------- 3300

BILL1QM&
3269.7
3265.1
3264.7
3256.9
3260.8
3266.6

3275

3250

3200

3175

3150

3125

3100

3100

I

15 29 12 26 10 24

7 21
AUG

4 18
SEP

2 18 30 13 27 II 25
NOV
DEC

8 22

5 IB
FEB

5 19
MAR

2 16 30 14 28 II 29
MAY
JUN

LATEST DATA PLOTTED WEEK ENDINGt JUNE II, 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 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 FUNOS.
FOR MORE
DETAIL, SEE THE H.6 RELEASE.

MONEY STOCK (M2 )
COMPOUNDED ANNUAL RATES OF CHANGE,
6/12/89

9/11/89 11/13/89 12/11/89

AVERAGE OF FOUR WEEKS ENDING:
1/8/90

2/12/90

3/12/90

6.4
5.6
4.0
2.8

6.0
3.6
2.2

1.6
0.3

4/9/90

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/13/89
12/11/89
1/ 8/90
2/12/90
3/12/90
4/ 9/90
5/14/90
6/11/90

7.8
7.8
7.7
7.3
7.4
7.0
6.3
5.6


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Federal Reserve Bank of St. Louis

7.2
7. 1
6.6
6.9
6.4
5.5
4.6

7.4
6.4
6.9
6.3
5.0
4.0

5.8
6.6
5.9
4.5
3.4

-1 . 1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ALL DEPOSITORY INSTI TUT IONS
TOTAL TIME DEPOSITS 1/
LARGE TIME ________
DEPOSITS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
2190

BILLIONS OF DOLLARS
2190
1

I—*--------- 1-------- 1---------- —
COMPOUNDED ANNUAL RAT ES
OF CHANGE. AVERAGE OF
THE FOUR *EEKS ENDING
- JUNE 11. 1990 FROM
- THE FOUR WEEKS ENDiNG t

-J -L .l

_

“

_

~

APR.
MAR.
FEB.
JAN.
DEC.

-

JU n!

9, 1990
12, 1990
12, 1990
8, 1990
11, 1989
i2'

1989

-1.5
-1.9
-1.6
-1.6
-1.4

-

O'.A

2130

TOTAL TIME DEPOSI TS

—^
-

2100

1990
MAY

2070

kl
JUN.

Ill ■ 111

111 XU 1

111

1 1 1 .mi XU XU IIIL 1 1 1

LATEST DATA PLOTTED WEEK ENDINGt JUNE II,

i

B

7
14
21
28
4
11

illioi

ii& “
---

2096.
2097.1
2094.9
2093.2
2093.6
2094.6

”

-

i i 1 ii i i 1 ' i i 1 i i i!

1990

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
590
ILL IONS
530.7
530.1
LARGE TIME DEPOSITS

532.5
533.2
570

540

3 17

I

15 29 12 26 10 24

7 21
AUG

4 IS
SEP

2 16 30 13 27 II 25
NOV
DEC

8 22

5 10
FEB

5 19
MAR

2 16 30 14 28 II 25
MAY
JUN

LATEST DATA PLOTTED WEEK ENDINGt JUNE II, 1990
1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 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
BILLIONS OF DOLLARS
4.5 r—------- 1------------- 1------

lfififi
— MAY

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
------ ------------- --------=1 4.5

MILLIONS
16

1082

30
6

2083
1044

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGi JUNE 20,

1990

BILLIONS OF DOLLARS
2.5 ---------- ------------- ------

BILLIONS OF DOLLARS
------ 1------------- 1---------- 2.5
1990

MILLIONS

ADJUSTMENT + SEASONAL
BORROWINGS

5 19
APR

3 17 31 14 28 12 26 9 23
MAY
JUN
JUL
AUG
1989

0 20
SEP

4 18
OCT

LATEST DATA PLOTTED WEEK ENDINGt JUNE 20,


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Federal Reserve Bank of St. Louis

I

15 29 13 27 10 24
NOV
DEC
JAN

7 21
FEB

7 21 4 18
MAR
APR
1990

2 18 30 IS 27
MAY
JUN

1990

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

a

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS

of dollars

160
MAY

9

JUN.

6

155

149,251
148,513
148,225
148,619

150
145
140
135
130
125
120
115
I 10

5 19

5 17 SI

14 28 12 26
JUN
JUL

8 23

6 20
SEP

4 18
OCT

LATEST DATA PLOTTED WEEK ENDING, JUNE 13,

1

IS 29 IS 27 10 24

7 21
FEB

7 21
MAR

4 16
APR

2 16 SO IS 27

0

1990

BUSINESS LOANS u
AND
INDUSTRIAL

( COMMERCIAL

)

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
336 ---------- ,------------- 1------

BILLIONS OF DOLLARS
------------------------------- 336

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
JUrC 6. 1990 FROM
THE FOUR WEEKS ENDING: _
APR.
MAR.
FEB.
JAN.
DEC.
SEP.
JUN.

4, 1990
JL 1990
7, 1990
3, 1990
6, 1989
6, 1989
7, 1989

0.5
1.2
1.5
0.4
-0.8
-1.4
1.2

“

MILLIONS

JUN.
5 19
APR

S 17 SI 14 26 12
MAY
JUN
JUL

9 23
AUG
1989

6 20
SEP

4 18
OCT

LATEST DATA PLOTTED WEEK ENDING: JUNE 6,

I I I I
I 15 29 13 27 10 24
NOV
DEC

7 21
FEB

6

11-1 11 111 I
LILLI
7 21 4 18 2 16 30 13 27
MAR
APR

1990

1/ BUSINESS LOANS INCLUDE BANKERS* ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 61.4 BILLION


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_ c>■'
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

1973-100

1973-100

91.2
92.2
92.9

5 IB
APR

3 17 31 14 28 12 28 B 23
MAY
JUN JUL
AUG
1989

6 20
SEP

4 18
OCT

I 13 2B 13 27 10 24
NOV
DEC
JAN

7 21
FEB

MAR
APR
1990

MAY

JUN

LATEST DATA PLOTTED WEEK ENDING: JUNE 20, 1990
NOTE:

CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR'S H.10 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