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Federal Reserve Bank

1 pf St: Louis
1

Li.5.

JUL 0 2 1987

Ftriancial

Data

June 25, 1987

THE WEEK'S HIGHLIGHTS:
is

Ml fell by $1 billion during the week ending June 15.
The U. S. consumer price index (CPI) increased 0.3 percent in May
or at a 4 percent compounded annual rate. The CPI has risen at
an average annual rate of 5.6 percent during the first five months
of 1987. This compares to a 1.2 percent annual rate of increase for
all of 1986.

is

Manufacturers' new orders for durable goods were $106.85 billion
in May. This followed a revised estimate of new durable goods orders
of $106.93 billion in April. New orders in April had previously been
estimated at $106.23 billion. New orders for durable goods have
increased at a compounded annual rate of 2 percent over the first
five months of this year.

FEDERAL
RESERVE

ILVNk of
ST. IDIIS

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
268 ---------- ,-----------1--------

APR.
~ MAY

BILLIONS OF DOLLARS
------ ------------------------- 268

261.1
262.0
263.9
263.3
263.7

7 21
MAY

4 16
JUN

2 10 30 13 27 10 24 8 22
JUL
AUG
SEP
OCT
1986

5 19
NOV

S 17 31 14 28 II 23 11
DEC
JAN
FEB
MAR

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING*. JUNE 17,

8 22
APR
1987

6 20
MAY

3 17
JUN

1

13 29
JUL

1987

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
BANK.
A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAILABLE FROM THIS BANK.
RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING
6/18/86

9/10/86 11/19/86 12/17/86

1/14/87

2/11/87

3/11/87

4/22/87

7.6
6.5
7.4
6.3

4. 1
5.8
4.9

7.2
5.5

5.9

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING:
11/19/86
12/17/86
1/14/87
2/11/87
3/11/87
4/22/87
5/20/87
6/17/87

8.9
9. 1
9.8
10. 1
9.3
8.7
8.9
8.3


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

9.3
10.5
10.9
9.6
8.7
8.9
8. 1

12.2
12.4
9.8
8.5
8.8
7.8

13.8
9.9
8.3
8.7
7.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
780 ---------- 1------------- 1------

19SI
_

MAY

5 19

ILL IONS OF DOLLARS
—1------------- ----------- 780

BILLIONS
751.2
754.0
758.0
753.6
745.8
744.8

2 10 30 14 28 11 25 6 22
JUL
AUG
1986

0 20
OCT

3 IT
NOV

I

15 29 12 26 9 23
JAN
FEB

9 23

B 20
APR
|987

4 18
MAY

1

15 29 13 27

LATEST DATA PLOTTED WEEK ENDING: JUNE 15, 1987
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS• H.6 RELEASE.
oepo1itseand“traveler1nchecks? by the nonbank

public' demand deposits, other checkable

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
6/16/86

9/15/86 11/17/86 12/15/86

AVERAGE OF FOUR WEEKS ENDING:

1/12/87

2/16/87

3/16/87

4/13/87

0. 1
0.7
5.4
3.6

5.0
10.1
6.5

11.3
6.2

7.9

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/17/86
12/15/86
1/12/87
2/18/87
3/16/87
4/13/87
5/18/87
6/15/87

16. 1
18. 1
20.6
16.4
15.5
14.2
14.7
13. 1


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

19. 1
23.3
16.0
14.7
13.0
13.8
1 1 .8

33.9
17.0
14.7
12.3
13.5
10.9

1 1 .7
10.4
8.5
10.8
8.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIERi/
CURRENCY COMPONENT OF MONEY STOCK 2/
AVERAGES OF DAILY FIGURES
SEASONALLY AD JUS I tU

RATIO

RATIO

RATIO
Ml MULTIPLIER
2.857

2 IS 30 M 28 11

JUL

25

8 22

AUG

6 20

3 17

OCT

NOV

1

15 29 12 28

JAN

LATEST DATA PLOTTED TWO WEEKS ENDINGt JUNE 15,

9

9 25

FEB

0 20

4 II

APR

MAY

15 29 13 27

1987
ILL IONS OF DOLLARS
—1------------- ----------- 196

BILLIONS OF DOLLARS
’96 ---------- .------ —t—
_

1

COMPOUNDED ANNUAL RATES
June
ia, WEEKS
iwor r
THE FOUft
ENDING:

_

APR.
MAR
FEB.

13,
6,
16,

1987
1987
1987

|P.

15;

1986

CURRENCY

1967
MAY

11

BILLIONS.
189.9

■ 111111111111111
5 19

2 18 30 14 28 II 25
JUL
AUG

8 22

8 20
OCT

3 17
NOV

LATEST DATA PLOTTED WEEK ENDING. JUNE 15,

I

15 29 12
JAN

9 23
FEB

9 23

5 20
APR

4 18
MAY

1

15 29 IS 27

1987

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

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

billions of dollars

billions of

dollars

554.7
556.9
560.4
556.4
548.6

I I I I I I 1 1
5 19

2 18 30 14 28 II 25
JUL
AUG

8 22

6 20
OCT

1

3 17
NOV

LATEST DATA PLOTTED WEEK ENDING; JUNE 15,

15 28 12 26 9 23
JAN
FEB

9 23

6 20
APR

4 18
MAY

I

IS 29 13 27

1987

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, AVERAGE OF FOUR WEEKS ENDING;
6/16/86

9/15/86 11/17/86 12/15/86

1/12/87

2/16/87

3/16/87

-4.1
-2. 1
4.2
1.9

4.9
11.3
6.5

13.2
6.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/17/86
12/15/86
1/12/87
2/16/87
3/16/87
4/13/87
5/18/87
6/15/87

19.3
22. 1
25.6
19.3
18.0
16.5
17. 1
14.9


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

23.5
29.4
18.4
16.6
14.6
15.7
13.0

44.6
19.3
16.3
13.6
15.2
1 1.8

11.5
10. 1
8.3
11.4
8.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6
YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

PERCENT

11.0

9.0

2 16 30 13 27 II 25
JUN
JUL

6 22

3 10

3 17 31

14 28 12 20
NOV
DEC

0 23

6 20
FEB

8 20
MAR

3 17
APR

I

15 20 12 20 10 24

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JUNE 26,

1987
MAY

I
8
15
22
29
JUNE
5
12
19
26 X
JULY
3
10
17
24
31

1987.

90 DAY
CD'S

30-DAY
COMMERC1AL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
AM BONDS

CORPORATE
BM BONDS

MUNICIPAL
BONDS XX

6.78
6.85
6.89
7.23
7.03
6.99
6.98
6.88
6.89

6.59
6.76
6.78
6.94
6.88
6.87
6.86
6.85
6.87

6.70
6.77
6.84
7. 16
6.98
6.90
6.83
6.79
6.80

9.21
9.21
9.25
9.49
9.40
9.30
9.36
9.29
9.25

10.37
10.-45
10.45
10.62
10.58
10.61
10.58
10.48
10.43

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

NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.15 RELEASE.
* AVERAGES OF RATES AVAILABLE
*K 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
11.0 r—

PERCENT
—

TREASURv’sIcUf

JRITIES
I

L-«-N

1

18 29 12

DISCOUNT RATE

2 10 30 19 27 11 25

MAY

JUN

JUL

8 22

5 19

AUG
SEP
1986

3 17 31 14 28 12 20 9 23
OCT
NOV DEC
JAN

0 20

6 20

FEB

MAR

3 17

10 24

APR
MAY
JUN
1987
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: JUNE 26, 1987.

1987
MAY

1
8
15
22
29
JUNE 5
12
19
JULY

26 X
3

FEDERAL
FUNDS m
6.50
7.30
6.75
6.77
6.80
6.65
6.70
6.75
6.79

3-MONTH
TREASURY
BILL
5
5
5
5
5
5
5
5
5

69
61
69
68
67
70
55
65
74

6-MONTH

&
6. 14
6. 16
5.7A
6.34
6. 18
6. 10
5.99
5.95
5.93

treaIury

BILL
6
6
6
6
6
6
6
6
6

10
17
24

31
39
54
71
48
44
36
29
31

5-YEAR
TREASURY
SECURITIES
7
8
8
8
8
8
8
7
7

92
09
24
52
23
19
10
87
84

JUL

LONG-TERM
TREASURY
SECURITIES
8.63
8.73
8.82
9. 10
8.79
8.85
8.77
8.55
8.56

T

31
note.
SEcuim i EsTwHtcHEir-'
Of.. GOVERNORS'
RELEASE EXCLUDING LONG-TERM TREASURY
aMs'^^e^MlI0*8*66
TREASURY BILL YIELDS ARE ON A DISCOUNT BASIS.
* AVERAGES OF RATES AVAIL
___ EWING TWO DAYS EARLIER THAN DATE SHOWN
X* SEVEN-DAY AVERAGES FOR WEEK
1 AUCTI ON AVERAGE ( DISCOUNT )


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

11.0

8
COMMERCIAL BANK
SMALL TIME DEPOSITS!/
LARGE TIME DEPOS I TS 2/
BILLIONS OF DOLLARS

1SSL
MAY

11

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS
356.5
357.3
357.9
356.6

SMALL TIME DEPOSITS

LATEST DATA PLOTTED WEEK ENDING: JUNE 15,

1967
BILLIONS OF DOLLARS
320

BILLIONS OF DOLLARS

12SZ.
MAY

BILLIONS

11

315

310.0
311.1

LARGE TIME DEPOSITS

5 10

2 16 90 M 26 11 25

8 22

6 20
OCT

3 17
NOV

LATEST DATA PLOTTED WEEK ENDING: JUNE 15,

I

15 20 12 26 0 23
JAN
FEB

0 23

6 20
APR

4 18
MAY

1987

1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000

2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 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
855

BILLIONS

850

841.2
841 .3

843.2

845

848.0
850.7

840
635

830

825

820

815

810

805
800

5 19

2 16 SO 14 28 II 29

JUL

AUG

8 22

6 20
OCT

9 17
NOV

LATEST DATA PLOTTED WEEK ENDING: JUNE 15,

1

18 29 12 26 9 29
JAN
FEB

9 29

6
APR

4 18
MAY

1

19 29 19 27

1987

TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE ,
6/16/86

9/15/86 11/17/86 12/15/86

AVERAGE OF FOUR WEEKS ENDING:

1/12/87

2/16/87

3/16/87

4/13/87

6.7
7.6
8.6
9.0

8.2
9.4
9.8

10.6
10.7

11.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
11/17/86
12/15/86
1/12/87
2/16/87
3/16/87
4/13/87
5/18/87
6/15/87

1.0
1.5
3.2
3.7
4.0
4.5
5.2
5.6


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

1 . 1
4. 1
4.7
5.0
5.6
6.4
6.9

9.3
8.2
7.9
8.2
8.8
9. 1

r

10. 1
9. 1
9.2
9.7
9.9

1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
BILLIONS OF DOLLARS
3.0 ---------- 1---------- 1-------1821

------ JUN.

27
3

AVERAGES OF DAILY FIGURES

ILL IONS OF DOLLARS
—I---------- -------------- 3.0

MILL LONS.
1427
760

TOTAL BORROWINGS

I I I I
LATEST DATA PLOTTED H€EK ENDING: JUNE 24,

1987
BILLIONS OF DOLLARS
------------------------------- 2-5

BILLIONS OF DOLLARS
2.5 ---------- ,---------- ■-------1251
27

MILLIONS.
1120

ADJUSTMENT + SEASONAL
BORROWINGS

MAY

4 18
JUN

2 16 30 13 27 10 24 8 22
JUL
AUG
SEP
OCT
1986

5 18
NOV

9 17 31 14 28 II 25 11 25 8 22
DEC
JAN
FEB
MAR
APR
1987

6 20
MAY

9 17
JUN

I

15 29
JUL

LATEST DATA PLOTTED WEEK ENDING: JUNE 24, 1987


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

PREPARED BY FEDERAL RESERVE BAM< OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
95 ---------- .---------- ,--------

I

ILL IONS OF DOLLARS

—I--------- ------------

95

1967

- MAY 13
JUN.

7 21
MAY

81,968

3

4 18
JUN

2 16 30 AUO
13 27 SEP
10 24

8 22

5 IB

3 17 31

14 28 11 25 11 25
JAN
FEB
MAR

8 22

6 20
MAY

3 17
JUN

1

13 29

LATEST DATA PLOTTED WEEK ENDING) JUNE 17, 1987

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

BILLIONS OF DOLLARS
290 ---------- ,---------- ,--------

ILL IONS OF DOLLARS

—i--------- ------------

_ COMPOUNDED ANNUAL RATES
_ OF CHANGE, AVERAGE OF
---------------THE
FOUR•»—;KS ENDING
JUNE 10, iwor rnuM
“THE FOUft WEEKS ENDING
-

APR.
MAR.
FEB.
JAN.

8,
1 1,
1 I ,
7,

— utv.

IU,

- SEP. 10,
- JUN. II,

1987
1987
1987
1987
------I woo
1986
1986

-0.3
-3.8
-6.8
-2.1
7.9
9.0

6.8

276,091
275,016
JUN.

7 21
MAY

4 18
JUN

2 16 30 13 27 10 24
AUG
SEP

6 22

5 IB

LATEST DATA PLOTTED WEEK ENDING) JUNE 10,

3 17 31

14 28 11 25 11 25
JAN
FEB
MAR

3

278,756
277,607
277,338

li-Ll 1 III I II I
8 22

6 20

3 17

MAY

JUN

I

IS 20

1987

1/ BUSINESS LOANS INCLUDE BANKERS* ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN BI.4 BILLION


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

290