Full text of U.S. Financial Data : June 24, 1993

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Federal Reserve
lcocrve Bank
“ank

fvlUM g
2 8 1823

U.S. Financial Data
THE WEEK'S HIGHLIGHTS:
>/ Real disposable personal income expanded at a 5.3 percent
annual rate during May following a 2.6 percent rate of decline in
April. Real income in May was up 2.3 percent, compared with a
year earlier.
*/ Real personal spending increased at a 1.2 percent annual rate
during May after increasing at an 11.7 percent rate in April.
Spending was up 3.1 percent over May 1992.
s/ Orders for durable goods decreased 1.6 percent during May after
falling 0.2 percent in April. Orders for the first five months of the
year were up 8.8 percent, compared with the same period a year
earlier.
*/ Because of a weakening German economy and political unrest
in Japan, the dollar has surged recently, rising to Y 110.20 and
DM 1.6921 for the week ending June 23—an increase of 3.5 per­
cent and 3.9 percent, respectively, during the past two weeks.
Compared with six months earlier, the dollar is down 10.7percent
against the yen and up 8 percent against the deutsche mark.

Views expressed do not necessarily reflect official positions of the Federal Reserve System.
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 as follows:
One year (50 issues) $21
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To subscribe, please send your check or money order made payable to the Federal Reserve Bank
of St. Louis to: Research and Public Information, Federal Reserve Bank of St. Louis, Post Office
Box 66953, St. Louis, MO 63166-6953. DO NOT SEND CASH. Checks from foreign subscribers
must be payable in U.S. dollars and, except for those from Canada, must be drawn on a U.S. bank.
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.

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Federal Reserve Bank of St. Louis

2
Adjusted Monetary Base
Averages ot Daily Figures
Seasonally Adjusted

Billions of Dollars

1993

Billions

Apr 14
28
May 12
26
Jun 9
23

396.0
398.1
399.1
403.7
404.5
404.5

Billions of Dollars

t|~T~i"T

8 20
May

3 17 I 15 29 12 28 9 23 7 21 4 10 2 18 30 13 27 10 24 10 24 7 21 5 19 2 16 30 14 28
Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

1992

Mar

Apr

May

Jun

Jul

1993

Latest data plotted reserve maintenance period ending: June 23, 1993
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 bariK. A detailed description of the adjusted monetary base is
available from this bank.
Recent data are preliminary.

Adjusted Monetary Base
T ..
, Compounded annual rates of change, average of two maintenance periods ending:
10 tne average OT 6/24/92 g/i6/92 11/25/92 12/23/92 1/20/93 2/17/93 3/17/93 4/28/93
two maintenance
periods ending:
11/25/92
12/23/92
1/20/93
2/17/93
3/17/93
4/28/93
5/26/93
6/23/93

13.7
11.8
11.6
13.1
11.1
10.8
11.2
11.1


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i
Federal Reserve Bank of St. Louis

11.0
10.9
13.2
10.3
10.1
10.7
10.7

6.1
11.9
7.5
8.1
9.1
9.3

17.2
9.4
9.4
10.4
10.4

9.0
9.2
10.5
10.5

3.6
6.8
7.6

Prepared by Federal Reserve Bank of St. Louis

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

Billions of Dollars

1993
— May 10
17
24
31
Jun 7
14

Billions of Dollars

Billions
1065.2
1068.2
1065.4
1074.5
1072.7
1070.1

TCD (right scale)

TCD
1993
May 10
17
24
31
Jun 7
14

M1 (left scale)

May

Jun

Jul

Aug
Sep
1992

Oct

Nov

Dec

Jan

Feb

Mar

Apr

Billions
753.9
756.0
753.1 —
761.3
759.1
756.0

May

Latest data plotted week ending: June 1 4, 1993
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
Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.

Money Stock (M1)
Compounded annual rates of change, average of four weeks endingTo the average
6/15/92 9/14/92 11/16/92 12/14/92 1/11/93 2/15/93 3/15/93 4/12/93
of four weeks
ending:
11/16/92
12/14/92
1/11/93
2/15/93
3/15/93
4/12/93
5/17/93
6/14/93

16.1
15.2
14.2
12.6
11.5
11.1
11.9
12.3


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Federal Reserve Bank of St. Louis

17.9
15.5
12.7
11.0
10.5
11.7
12.3

9.1
6.9
5.8
6.1
8.4
9.6

5.5
4.5
5.2
8.1
9.6

2.9
4.3
8.1
9.8

Prepared by Federal Reserve Bank of St. Louis

4
Adjusted Reserves
beasonaliy Adjusted

Billions of Dollors

1993

Billions of Dollars

Billions

Mar 31
— Apr 14
May 12
Jun

6 20
May

9

3 17 I 15 29 12 26 9 23 7 21

4 18 2 16 30 13 27 10 24 10 24 7 21

Jun

Nov

Jul

Aug
Sep
1992

Oct

Dec

Jan

Feb

Mar

5 19 2 16 30 14 28

Apr May
1993

Jun

Jul

Latest data plotted two weeks ending: June 9, 1993
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
To the average of

Compounded annual rates of change, average of two maintenance periods ending:
4/14/93
3/3/93
6/10/92 9/2/92 11/11/92 12/9/92
1 /6/93
2/3/93

periods ending:
11/11/92
12/9/92
1/6/93
2/3/93
3/3/93
4/14/93
5/12/93
6/9/93

15.0
12.6
10.2
10.7
17.0
7.4
9.7
12.3


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Federal Reserve Bank of St. Louis

19.5
13.8
14.0
23.1
8.3
11.3
14.6

-2.1
3.3
19.9
0.3
5.4
10.4

4.9
27.4
0.3
6.4
12.0

46.8
1.6
8.9
15.3

-3.3
7.2
15.4

-14.3
0.4

43.7

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier17
Averages of Daily Figures
Seasonally Adjusted

Ratio

Compounded annual
rates of change
average of the four
weeks ending
June 7, 1 993 from
the four weeks ending
Jun 8. 1992 1.3
Sep 14, 1992 1.5
1992 -0.2
Jan 18 1993 -0.9
Feb 15. 1993 3.1
1993 4.2
1993 3.5

Mar 29
Apr 12
26
May 1 0
24
Jun 7

2.639
2.635
2.613
2.657
2.643
2.655

1 ' 1' I ' I I 1 I M 1 I 1 I 1 I 1 ■' I 1 ' I 1 I ' I ■ I I ■ I I i | ■ | i | ■
i | i i | i ] , | , 9 4
I II I IS II IS 27 10 24 7 21 S II ! 10 JO 14 21 II 25 I 22 I !! S I! 3 17 J| 14 2! II IS '
May Jun
Jul Aug Sep Oct
Nov
Dec Jan Feb Mar Apr
May Jun
Jul
1992
Latest data plotted two weeks ending: June 7, 1993

1993

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

310

290

Billions of Dollars

310

—
1
1
Compounded annu al
rates of change,
average of the fou
weeks ending
June 14, 1993 frorn
the four weeks end inq:
Jun 15. 1992 1C .6
Sep 14, 1992
.9
Dec 14, 1992
.9
Jan 11. 1993
.7
Feb 15, 1993 1C .0
Mar 15. 1993 1C .0

300

2)0

1993

Billiens

17
24
31
Jun 7
14

303.9
304.2
305.0
305.3
306.4

280

270

1 l

■

■ 1 '

l May
is 1JunIS

■ i 1 i

21

T ' 1 Lr~1 i

13Jul 27 10Aug24 7Sep21

PM1

5 II
Oct

' 1 ■

i

2 NovIS 30 14Dec21

| TT 1 T "1 ' 1 ~-T ■

1

»‘

II 25 I 2! I 22 5 19
Jan Feb Mar Apr

1992

3 May
17 31 14Jun21

270
I! 2S
Jul

1993

Latest data plotted week ending: June 14, 1993
1/ Ratio of Ml 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

200

6
Yields on Selected Securities

Percent

Percent

Averages of Daily Figures

Corporate

Municipal Bond*

Loan Rate

1 15 2! 12 2S 10 24 7 21 4 1!
May

Jun

Jul

Aug
Sep
1992

IS 3S 13 27
Oct

Nov

25 I 22 5 II 5 19 2 IS 31 14 21 II 25
Dec

Jan

Feb

Mar

Apr
1993

May

Jun

Jul

Latest data plotted are averages of rates available for the week ending: June 25, 1993

1993
Apr

2
9
16
23
30
May 7
14
21
28
Jun 4
11
18
25 *

90-Day
CDs

30-Day
Commercial
Paper

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

3.12
3.11
3.09
3.08
3.08
3.06
3.07
3.12
3.16
3.21
3.25
3.17
3.20

3.19
3.16
3.14
3.10
3.10
3.08
3.09
3.11
3.15
3.18
3.20
3.18
3.20

3.09
3.07
3.04
3.04
3.04
3.03
3.04
3.07
3.12
3.16
3.21
3.13
3.16

7.64
7.61
7.45
7.34
7.40
7.37
7.41
7.48
7.46
7.39
7.38
7.32
7.30

8.23
8.25
8.07
8.05
8.15
8.13
8.18
8.28
8.27
8.16
8.13
8.06
8.03

5.86
5.84
5.70
5.67
5.75
5.71
5.69
5.77
5.73
5.67
5.68
5.61
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
Prepared by Federal Reserve Bank of St. Louis


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Federal Reserve Bank of St. Louis

Selected Interest Rates

Percent

Percent

Averages of Daily Figures

Fund* Rote

Treasury dill
1 15 2! 12 21 10 24 7 21 4 It 2 11 30 13 27 11 25 1 22 5 IS 5 IS 2 It 30 14 28 11 25 9 23
May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

1992

Mar

Apr

May

1993

Latest data plotted are averages of rates available for the week ending: June 25, 1993

1993
Apr

2
9
16
23
30
May 7
14
21
28
Jun 4
11
18
25 *

Federal
Funds **

3—Month
Treasury
Bill

6—Month
Treasury
Bill ***

3.18
3.11
2.93
2.91
2.87
2.98
2.90
3.01
3.07
3.09
2.96
3.01
3.00

1 -Year
Treasury
Bill

5-Year
Treasury
Securities

Long-Term
Treasury
Securities

2.91
3.04
3.17
5.25
6.74
2.91
3.04
3.16
5.21
6.72
2.85
3.00
3.09
5.08
6.52
2.81
2.96
3.05
5.06
6.49
2.91
2.95
3.12
5.14
6.62
2.87
2.98
3.11
5.05
6.55
2.91
2.99
3.14
5.10
6.58
2.99
3.10
3.26
5.28
6.72
3.06
3.19
3.39
5.36
6.71
3.06
3.22
3.44
5.29
6.62
3.10
3.30
3.46
5.32
6.60
3.05
3.19
3.33
5.19
6.51
3.09
3.19
3.37
5.20
6.47
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
*** Auction average (discount)
Prepared by Federal Reserve Bank of St. Louis


http://fraser.stlouisfed.org
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

3550

i

Billions of Dollars

2225

r

M2
1993 Billions
May 10 3505.9
17 3508.8
24 3506.3
31 35 09.4
Jun 7 35 18.9
14 35 16.6

3525

2025

2525

M2 ( eft see le)

*■ —.
"■* "S _ yC.

•'n - «^\
/—

3425

1425

Non -Ml M2 (right scale)

Nor
1993

3450

3425

May 10
17
24
31
Jun 7
14
4

II
May

I 15 26 13 27 10 24 2 21 5 IS
Jun
Jul
Aug Sep Oct
1992

2 16 30 14 18
Nov
Dec

II 25 0 22
Jan
Feb

1 22
Mar

A2

Billie ns

2440.7 —
2440.6
2440.9
2434.9
2446.2
2446.0

I

______ ______ I_____
IS 3 17 31 14 21 12 26
Apr
May
Jun
Jul
1993

5

2325

2225

Latest data platted week ending: June 14, 1993
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)
_
Compounded annual rates of change, average of four weeks ending:
lo the average 6/i15/92 g/14/92 11/16/92 12/14/92 1/11/93 2/15/93 3/15/93 4/12/93
of four weeks
ending:
11/16/92
12/14/92
1/11/93
2/15/93
3/15/93
4/12/93
5/17/93
6/14/93

2.3
1.9
1.4
0.5
0.4
0.3
0.9
1.4


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Federal Reserve Bank of St. Louis

2.6

1.5
0.1
-0.1
-0.1

0.7
1.4

-0.9
-2.3
-2.0
-1.6
-0.3
0.7

-3.4
-2.6
-2.1
-0.4

-2.9
-2.1
0.0

1.8

0.8

1.3

3.1

-0.6

Prepared by Federal Reserve Bank of St. Louis

Savings and Money Market Funds
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars
1250 -------- 1--------- 1---------Savings
1993 Billions

1220

May 10
17
24
31
Jun 7
14

Billions of Dollars

1193.8
1194.8
11 32.6
11 34.5
11 39.8
12 31.2

330

1190

360
“

— * *. «s
---

>

■*

1160

X

__

_*

330

M xMytih ifk«t ( ■ight sc ale)

1130

Mon ey Ma rket
1_993 Billie ns
-

Savl '9*0* rostts ( eft sc< le)

May 1 0
17
24
31
Jun 7
14

. . . . . . . J_ _ _

1100 ~*~'r r
May

Jun

Jul

Aug
Sep
Oct
Nov
Dec
Jan
Feb Mar
Apr
May
1992
___
1993
Note: Savings deposits are at all depository institutions. Money market funds are general purpose
and broker/dealer.

336 .0
334.9
338.1
337.5
337.5
338.3
_ _ L_ _

Jun

300

220

Jul

Large and Small Time Deposits1/
Billions of Dollars

.
All Depository Institutions
Averages of Daily Figures. Seasonally Adjusted

415

Billions of Dollars

1065
Small Time
1993
May 10
17
24
"
o1
Jun 7
14

385

Billions
839.8
838.1
836.2
833 .8
833 .9
831 .4

—

**
N

Lon

355

(left s cale)

935

>
La rge Tirne
Bill ons

i*

1 9S_3

325

*

— May

17
24
31
Jun 7
14
'I

295

343.8
340.2
343.5
342.0
340.8

' i■ l ■ 1
• MM T» 1 e TTi

r» i i

May

870

s mall T1 n* (rig it seal 0

Jun

Jul

Aug
Sep
1992

Oct

T r '

Nov

L»~r~» r

Dec

'I'M~f' M

Jan

Feb

r 1 i *
Mar

'I 1 '
Apr
1993

t

■ i ■
May

Jun

Jul

Latest data plotted week ending: June 14. 1993
1/ Large time deposits are those issued in denominations of $100,000 or more.


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

Prepared by Federal Reserve Bank of St. Louis

9

10
Total Borrowings
From Federal Reserve Bank9
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

1993
•May 19
26
Jun 2
9
16
.
23

Billions
0.095 ___
0.113
0.124
0.112
0.135
0.179 ___

6 20 3 17 1 15 29 12 26 9 23 7 21 4 18 2 16 30 13 27 10 24 10 24 7 21 5 19 2 16 30 14 28 '
May

Jun

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Adjustment + Seasonal Borrowings
rrorn i-ederai Reserve banks
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

1_993
.May 19
26
Jun 2
9
16
23

6 20 3 I7 1
May

Jun

15 29 12 26
Jul

Bi||ion?
0.095 _ n c
0.113
‘'•3
0.124
0.112
0.135
0.179
n .

23 7 21 4 18 2 16 30 13 27 10 24 10 24 7 21 5 19 2 16 30 14 28

Aug
Sep
1992

Oct

Nov

Dec

Feb

Mar

Apr

May

Jun

Latest data plotted week ending: June 23, 1993


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

Prepared by Federal Reserve Bank of St. Louis

Commercial Paper of Nonfinandal Companies

Billions of Dollars

1993

Billions

May 12
19
26
Jun 2
9
16

158.672
159.499
1 58.801
158.693
155.445
164.030

May

Jun

Billions of Dollars

Not Seasonally Adjusted

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr
1993

May

Jun

Jul

Latest data plotted week ending: June 16, 1993

Commercial and Industrial Loans17
Weekly Reporting Large Commercial Banks2/
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Compounded annual
rates of change,
average of the four
weeks ending
June 9, 1993 from
the four weeks ending:
Jun 10. 1992 -3.5
Sep 9. 1992 -2.9
Dec 9. 1992 -5.7
Jan 6, 1993 -3.9
Feb 10, 1993 -4.8
Mar 10, 1993 -3.0
Apr 7. 1993 -0.4

May

Jun

Jul

Aug

1993

Jun

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

19
26
2
9

Billions

272.130
274.237
275.261
273.716.

Jun

Latest data plotted week ending: June 9, 1993
1/ Commercial and industrial loans include banker's acceptances and commercial paper.
2/ Banks with domestic assets greater than $1.4 billion
_
.
Prepared by Federal Reserve Bank of St. Louis


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

11

Dollar's Trade-Weighted Exchange Index
1973=100

1973=100

Averages of Daily Figures

1993 1973=100

$ 20

May

3 17 1 15 2) 12 21 3 23 7 21
Jun

Jul

Aug

Sep

Oct

1 18 2 16 30 13 27 10 24 10 24 7 21 5 19 2 If 30 14 28
Nov

1992

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

1993

Latest data plotted week ending: June 23, 1993
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

w
3*
L3

OS >
«C L3

03

M W
C5 *4 N