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4
ffi®ancial Data
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THE WEEK'S HIGHLIGHTS:
✓ According to the Conference Board, consumer confidence declined
for the second consecutive month. In June, consumer confidence
measured 97.6 percent (1985=100), down 5.9 percentage points
from May. Compared with June 1995, the consumer confidence
index has increased 3 percentage points.
✓ Advance new orders for manufactured durable goods rose
3.3 percent in May, following a 1.8 percent decrease in April.
The May increase was the largest increase since August 1995.
New orders for transportation equipment rose 12.2 percent.
Excluding transportation equipment, new orders increased
0.7 percent.
✓ The National Association of Realtors reported that existing
single-family homes in May were at an annual rate of4,260,000 units,
up 1.4 percent from April. The resale pace in May equals the previous
record sales rate set in December 1993.

USFD will be published on Friday next week because of the
Fourth of July holiday.

All data are seasonally adjusted unless otherwise indicated.

U.S. Financial Data is published weekly by the Research Division of the Federal Reserve Bank
of St. Louis. The cost for a subscription is $21 for one year (50 issues) or $36 for two years (100 issues).
For more information on data, please call (314) 444-8590. To request an order form, please call
(314) 444-8808 or (314) 444-8809. Sorry, no refunds.
Information in this publication is also included in the Federal Reserve Economic Data (FRED) electronic
bulletin board at
 (314) 621-1824 or internet World Wide Web server at http://www.stls.frb.org/ffed.
http://fraser.stlouisfed.org
Federal Reserve Bank of St. Louis

2
Adjusted Monetary Base
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollors
Apr 10
Moy

8

Jun

5

Billions of Dollars

Billions
473.1
473.0
470.5
474.3
474.8
474.8

3 17 31 14 28 12 26 9 23 6 20 4 18 1 15 29 13 27 10 24 7 21
May
Jun
Aug
Sep
Oct
Nov
Dec
Feb

20 3 17 1 15 29 12 26 10 24
Mar
Apr
Moy
Jun

1995

1996

The odjusted monetory base is the sum of reserve accounts of financial institutions at Federol Reserve banks,
currency in circulation (currency held by the public ond in the vaults of oil depository institutions) ond on
adjustment for reserve requirement ratio changes. The major source of the odjusted monetary base is Federol
Reserve credit. Dota ore computed by this bonk. A detailed description of the odjusted monetory base is
available from this bank.
Recent doto ore preliminary.

Adjusted Monetary Base
To the average of
two maintenance
periods ending:

11/22/95
12/20/95
1/17/96
2/14/96
3/13/96
4/24/96
5/22/96
6/19/96

Compounded onnuol rotes of chonge, average of two maintenance periods ending:

6/21/95 9/13/95 11/22/95 12/20/95
0.8
1.5
1.6
1.1
1.4
1.5
1.2
1.6


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

1.6
1.8
0.9
1.3
1.6
1.2
1.7

4.1
1.7
2.2
2.3
1.6
2.3

-0.3
1.0
1.5
0.9
1.8

1/17/96 2/14/96 3/13/96 4/24/96

0.3
1.3
0.6
1.7

3.0
1.6
2.7

Prepared by Federal Reserve Bank of St. Louis

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

Billions of Dollars
1996
May 13

1170-

Billions
1115.7
1118.3

Jun

Billions of Doilors

1123.2
1114.1
1120.6

3

Billions
730.7
732.5
Jun

3

737.1
727.0
732.9

M1 (left scale)

TOO (right scale)

Moy

Jun

Jul

Aug

Sep

Oct

Nov

Oec

Feb

1995

Mor

Apr

Moy

Jun

1996

Ml is the sum of currency held by the nonbank public, demond deposits, other checkoble deposits and travelers
checks. Totol checkable deposits is the sum of demond deposits ond other checkoble deposits ot depository
institutions. Current doto oppeor in the Federal Reserve Boord's H.6 release.

Money Stock (M1)
To the overage
of four weeks
ending:
11/20/95
12/18/95
1/15/96
2/19/96
3/18/96
4/15/96
5/20/96
6/17/96

Compounded annual rates of change, average of four weeks ending:
, ,
, J
6/19/95 9/18/95 11/20/95 12/18/95 1/15/96 2/19/96 3/18/96
-3.0
-3.2
-3.2
-3.7
-2.2
-1.9
-2.5
-2.3


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

-5.6
-5.1
-5.4
-2.9
-2.4
-3.2
-2.8

-3.6
-4.7
-1.0
-0.7
-2.1
-1.8

-5.1
-0.1
0.1
-1.8
-1.5

1.3
1.1
-1.5
-1.1

4/15/96

6.2
0.6
0.5

Prepored by Federol Reserve Bank of St. Louis

3

4
Adjusted Reserves
Seasonally Adjusted
Billions of Dollars
Apr 10
May

iio-

8

Jun

5

Billions of Dollars

Billions
97.0
97.5
94.2
97.6
97.0
96.1

114

110

106

102

96

94

90
17 31 14 28 12 26 9 23
Aug
Jun

May

20 4 18 1
Sep
Oct

15 29 13 27 10 24 7 21 6 20 3 17 1 15 29 12 26 10 24
Feb
Mar
Apr
May
Jun

1995

1996

Adjusted reserves is the difterence between the adjusted monetary base and the currency component of Ml.

Adjusted Reserves
Compounded annual rates of change, average of two maintenance periods ending:
To the average of
two maintenance
periods ending:
11/22/95

6/21/95

9/13/95 11/22/95 12/20/95

1/17/96

2/14/96

3/13/96

4/24/96

-5.8

12/20/95

-4.0

-7.2

1/17/96

-3.4

-5.7

3.4

2/14/96

-3.8

-5.8

0.0

-3.3

3/13/96

-2.9

-4.2

1.3

-0.4

4/24/96

-3.0

-4.0

0.0

-1.5

-1.9

0.0

5/22/96

-4.2

-5.6

-2.9

-4.5

-5.5

-5.2

6/19/96

-3.2

-4.1

-1.2

-2.4

-2.9

-2.1


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

-0.7

Prepored by Federal Reserve Bonk of St. Louis

Money Multiplier
Averages of Daily Figures
Seasonally Adjusted

Ratio

Ratio

Compounded annual rates
of change, average of
the four weeks ending
June 17, 1996, from
the four weeks ending:

Jun
Sep
Dec
Jon
Feb
Mor
Apr

19.
11,
18.
15.
12.
11.
22.

1995
1995
1995
1996
1996
1996
1996

J.O

Ratio

-3.8
-4.5
-3.4
-2.7
-2.4
-3.4
-6.4

Jun

2.382
2.379
2.377
2.355
2.356
2.354

3

-2.B

15 29 U 27 10 24 8 22
Aug

Sep

Oct

Apr

1995
Rotio of M1 to adjusted monetary base.

May

Jun

1996

Currency Component of M1
Averoges of Daily Figures
seasonally Adjusted

Billions of Dollars

Billions of Dollars

Compounded annual rotes
of chonge. overage of
the four weeks ending
June 17, 1996. from
the four weeks ending:
Jun
19. 1995
3.
Sep
18. 1995
3.
Dec
18. 1995
3.
Jan
1 5. 1 996
2 .
Feb
19. 1996
4 .
Mar
1 8. 1 996
4 .
Apr
15, 1996
3.

Billions

Jun

May

Jun

Aug

Sep

Oct

Apr

1995
Current data appear in the Federol Reserve Boord's H.6 release.


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

May

376.3
377.1
378.1
377.5
378.4
379.0

3

Jun

1996
Prepored by Federol Reserve Bonk of St. Louis

5

370

6
Yields on Selected Securities
Averages of Daily Figures
Percent

Percent

Prime Rote

Corporate
Aaa Bonds

Commercial

Municipal Bonds

5

19

1996
Apr

5
12
19
26
Moy
3
10
17
24
31
Jun
7
14
21
28

3

14 28 11 25

17

15 29 12 26 9 23 8 22 5

19

3

30-Day
Commercial
Paper

90-Day
CDs

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

5.42
5.42
5.39
5.38
5.40
5.40
5.38
5.36
5.38
5.42
5.43
5.46
5.49

5.34
5.39
5.36
5.34
5.36
5.37
5.36
5.35
5.36
5.42
5.48
5.47
5.48

5.26
5.31
5.28
5.26
5.29
5.30
5.28
5.27
5.30
5.34
5.40
5.39
5.40

7.41
7.60
7.50
7.48
7.65
7.72
7.57
7.53
7.61
7.67
7.78
7.74
7.71

8.12
8.30
8.19
8.16
8.33
8.40
8.25
8.20
8.27
8.34
8.47
8.44
8.41

17 31 14 28 12 26

Municipal
Bonds ••
5.86
6.03
5.94
5.91
6.06
6.08
5.96
5.87
5.94
5.94
6.12
6.06
NA

Current data are from the Federal Reserve Board's H.15 release, and ore averoges of rotes avoiioble for the
week ending on June 28, 1996 .
•• Bond Buyer's Averoge 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 Bonk of St. Louis

Selected Interest Rates
Averages of Daily Figures

Percent

Percent

- 7.0

10-Year
Treasury Securities

Federal
Funds Rate
Discount Rate

3-Month
Treosury Bill
-4.0

5

19

2

16 30 14

1996
Apr

5
12
19
26
May 3
10
17
24
31
Jun
7
14
21
28 •

11 25 8 22

Federal
Funds ••
5.30
5.08
5.24
5.24
5.30
5.22
5.26
5.22
5.19
5.33
5.24
5.45
5.21

6 20 3

17

15 29 12 26 9 23 8 22 5

19

17 31

14 28 12 26

3-Month
Treasury
Bill

1 -Year
Treasury
Bill

5-Year
Treasury
Securities

10-Yeor
Treosury
Securities

Long-Term
Treasury
Securities

5.01
4.97
4.85
4.96
5.00
5.00
5.01
5.04
5.04
5.09
5.11
5.09
5.11

5.18
5.31
5.21
5.21
5.33
5.35
5.28
5.27
5.39
5.46
5.52
5.48
5.51

6.14
6.42
6.32
6.31
6.46
6.55
6.42
6.41
6.55
6.63
6.77
6.73
6.70

6.35
6.60
6.52
6.53
6.74
6.82
6.68
6.65
6.77
6.85
6.99
6.95
6.92

6.74
6.96
6.88
6.88
7.04
7.11
6.96
6.93
7.02
7.08
7.23
7.18
7.14

Except for long-term Treosury securities, which ore computed by this Bonk, current data oppeor in the Federal
Reserve Boord's H. 15 release.
• Averages of rotes available
•• Seven-day averages for week ending two days earlier than dote shown
Prepared by Federal Reserve Bonk of St. Louis


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

7

8
Money Stock(M2) and Non-M1 Components of M2
Averoges of Daily Figures
Seasonally Adjusted

Billions of Dollars

Moy 13
Jun

3

Billions
3732.8
3731.0
3728.1
3742.0
3747.2
3754.5

Billions of Dollars

2700

2650
M2 (left scale)
2600

2550

2500
Non-Mi M2 (right scale)
2450
Non-Mi M2
>6
Billions
Moy 13
2617.
2612.7
2614.5
Jun 3
2618.8

2400

2633.9
1

15 29 12 26 10 24

Moy

Jun

Jul

7 21

Aug

4

18 2

Sep

16 30 13 27 11 25 8 22 5

Oct

Nov

Oec

Jon

19 4

Feb

18

Mor

1995

1

15 29 13 27 10 24 8 22

Apr

Moy

Jun

2350

Jul

1996

M2 is the sum of Ml, savings (including money market deposit accounts), small time deposits and retail money
funds. Current doto appear in the Federol Reserve Board's H.6 release.

Money Stock (M2)
To the average
of fpur weeks
ending:

Compounded onnuol rotes of chonge, overage of four weeks ending:
6/19/95

9/18/95 11/20/95 12/18/95

1/15/96

2/19/96

11/20/95

5.0

3.5

1/15/96

5.3

4.4

6.2

2/19/96

4.8

3.9

4.7

3/18/96

5.7

5.3

6.7

7.2

7.2

4/15/96

5.8

5.6

6.8

7.2

7.2

10.3

5/20/96

4.9

4.4

5.0

4.9

4.4

5.2

6/17/96

5.0

4.5

5.0

5.0

4.6

4/15/96

4.9

12/18/95

3/18/96

5.3


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

4.4

Prepared by Federol Reserve Bonk of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Sovings
1996

Jun

3

■1055

Small Time

Billions
1196.9
1197.7
1201.6
1 199.0

1996

Jun

Billions
928.5
928.4
928.6
928.2
928.0
927.6

3

1208.1

1015

975

Small Time (right scole)

935
895

■ 855

Savings Deposiits (left scale)
815

I

15 29 12 2$ 10 24 7 21 4 18 2 16 JO 13 27 II 25 8 22 5
May

Jun

Aug

Sep

19 4

Oct

18

15 29 13 27 10 24 8 22
Apr

1995
Sovings deposits and small time deposits ore ot oil depository institutions.

May

775

Jun

1996

Large Time Deposits and Retail Money Funds
Averages of Daily Figures
seasonally Adjusted

Billions of Dollars

Billions of Dollars

Large Time
1996
May 13
550-

Retail Money
1996
Billions
May 13
491.7

Billions
435.0
437.6

486.6

439.4

440.0
440.4
441.3

Jun

3

590

550

491.5
494.9

498.2

510

Retail Money
470

430

Large Time
390

350
Aug

Sep

Oct

Apr

May

Jun

1995
1996
Large time deposits ond retoil money funds ore at oil despository institutions. Large time deposits ore those
issued in denominations of Si00,000 or more. Retoil money funds were originally colled general purpose
ond broker/dealer money market funds.
Prepared by Federal Reserve Bonk of St. Louis


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

9

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

Billions
May 22
Jun

i.o-

5

3 17 31 14 28 12 26 9 23 6 20 4 18 1
Sep
Oct
May
Jun

13 29 13 27 10 24 7 21 6 20 3 17 1

1995
Borrowings include seasonal, adjustment ond extended credit.

15 29 12 26 10 24
May
Jun

1996

Bank Loans and Credit

All Commercial Banks in the United States1^
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Bonk Credit
Moy

Jun

3660 -

Billions
3655.2
3650.6
3661.7
3648.2
3647.2
3665.6

8

5

Bonk Credit (left scale)2/

Loans&Leases
1996
Billions
Moy 8
2661.9
2675.0
2662.9
Jun 5
2667.5
2682.7

Loans and Leases (right scale)

3

17 31 14 28 12 26 9 23 6 20 4

May

Jun

Sep

18

1

15 29 13 27 10 24 7 21

Oct

1995
Current data appear in the Federol Reserve Board's H.8 release.
1/ Includes foreign-related institutions
2/ Includes loans and leases and securities


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

6 20 3

17

1

13 29 12 26 10 24

Moy

Jun

Prepared by Federal Reserve Bank of St. Louis

Commercial Paper of Nonfinancial Companies
inoi

Billions of Dollors
May 15
Jun

5

seasonally Adjusted

Billions of Dollars -220

Billions
208.059
202.098
199.635
199.504
198.220
205.672
-

200

- 180

15 29 13 27 10 24 7 21
Sep

6 20 3

17

Oct

15 29 12 26 10 24
May
Jun

■ 160

Commercial and Industrial Loans
Seasonally Adjusted

Billions of Dollors
All
740-

M°y

Jun

f

5

Billions of Dollors

420

Banks
731.5
734.5
734.6
730.6
732.0
734.8

400

All Banks (left scale) 1/
380

360
Large Banks (right scale)2/
Large Bonks

1996
May
8
15
22

340
Billions
355.9
357.0
356.5
354^3 ..... .. 320

15 29 12 26 10 24
1995

1996

Current doto appear in the Federal Reserve Board’s H.8 release.
1/ Includes foreign-related institutions
2/ Weekly reporting, domestically chartered banks


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

11

_
Prepared by Federal Reserve Bank ol St. Louis

300

Dollar's Trade-Weighted Exchange Index
Averoges of Doily Figures
1973=100

1973=100

110

100

90

80

70
3

17 31 14 28 12 26 9 23 6 20 4

18

1996
Current dole oppeor in the Federol Reserve Boord’s H.10 releose. Goto ore weighted overoges ot the foreign-currency
price of the U.S. dollor, computed using 10 industrial country currencies.


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

Prepared by Federol Reserve Bonk of St. Louis


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102