Full text of U.S. Financial Data : June 4, 1992

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H>MBRARY

Ulmncial Data

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THE WEEK'S HIGHLIGHTS:
The composite index of leading economic indicators increased 0.4
percent in April. This was the fourth consecutive monthly in­
crease for this index, following a relatively flat performance for
the previous five months.
Real personal income declined at a 1.1 percent annual rate in
April, following a slight decline in March. From April 1991 to
April 1992, real income grew 1.2 percent. Real personal con­
sumption expenditures rose 2.2 percent during the last year.
Sales of new one-family houses in April increased 1.3 percent.
The number of houses sold during the four months of this year was
up 21.1 percent from the same period a year earlier.
Construction spending declined at a 3.4 percent annual rate in
April, following a 24.5 percent rate of increase in March. Com­
pared with a year ago, April construction spending was up 2.9
percent. Construction spending data are not adjusted for infla­
tion.
Views expressed do not necessarily reflect official positions of the Federal Reserve System.
KS. 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)
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Two years (100 issues) $30
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r StJrS °- TResearch and Publlc Information, Federal Reserve Bank of St. Louis, Post Office
Box 66053, St Louu 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.

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Federal Reserve Bank of St. Louis

2

Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1992
Apr

Billions of Dollars

Billions
1

May 13

3 17
Apr

1

15 29 12 20 10 24 7 21
May

Jun

22 5

4 18 2 16 30 13 27 11 25 8

Jul

Aug
Sep
Oct
Nov Dec
1991
Latest data plotted reserve maintenance period ending: May 27, 1992
The adjusted monetary base is the sum of reserve accounts of financic
currency in circulation (currency held by the public and in the vaults of
adjustment for reserve requirement ratio changes The imajorjiowce_c
Reserve credit. Data are computed by this bank. A detailed descnptioi
available from this bank.
Recent data are preliminary.

19 4
Feb

18 1
Mar

15 29 13 27 10 24
Apr

May

Jun

Adjusted Monetary Base
Compounded annual rates of change, average of two maintenance periods ending:
To the average of 5/2g/gi 8/21/91 10/30/91 11/27/91 12/25/91 1/22/92 3/4/92
4/1/92
two maintenance
periods ending:
10/30/91
11/27/91
12/25/91
1/22/92
3/4/92
4/1/92
4/29/92
5/27/92

7.3
7.4
7.5
6.9
8.9
8.3
8.5
8.4


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Federal Reserve Bank of St. Louis

8.5
8.4
7.4
10.1
9.2
9.3
9.2

7.8
6.2
10.8
9.3
9.5
9.3

5.6
11.8
9.7
9.9
9.6

13.3
10.1
10.3
9.8

13.1
12.4
11.4

6.5
7.0

Prepared by Federal Reserve Bank of St. Louis

Money Stock (M1) and Total Checkable Deposits
Billions of Dollars

Averages ot Daily Figures
Seasonally Adjusted

Billions of Dollars

-------------- 890
M1
1992 Billions
-Apr 20 945.9­
27 941.6
May 4 951.0
11 955.2
18 953.9
25 950.9

l right scale).

M1 (left scale).
TCD
1992

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

1991

Billions

Apr 20
27
May 4
11
18
25

664.1
659.8
668.6
672.6
671.4
667.6

Apr

May

Jun

1992

Latest data plotted week ending: May 25. 1992
Current data appear in the Federal Reserve Board's H.6 release.
M1 is the sum of currency held by the nonbank public, demand deposits, other checkable deposits and travelers
checks.
Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions.

Money Stock (Ml)
Compounded annual rates of change, average of four weeks ending:

To the average 5/27/91
of four weeks
ending:
10/28/91
11/25/91
12/23/91
1/27/92
2/24/92
3/23/92
4/27/92
5/25/92

8.6
9.6
9.8
10.4
12.5
12.8
11.8
12.1


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Federal Reserve Bank of St. Louis

8/26/91

11.8
11.5
12.1
15.1
15.2
13.4
13.6

10/28/91 11/25/91 12/23/91

13.1
13.5
17.8
17.4
14.6
14.7

12.6
18.5
17.8
14.4
14.6

22.1
20.2
15.2
15.3

1/27/92

2/24/92

3/23/92

24.0
15.6
15.6

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Billions of Dollars

Seasonally Adjusted

Billions of Dollars

92
1992

Billions

90

Mar 18
Apr 1
May 13

86

84
82
80
28
76

i 17 I IS 2! 12 26
Apr May
Jun

10 21 7 II
Jul Aug

4 II
Sep

2 IS 30 13 27 II 25 0 22
Oct
Nov Dec
Jan

S IS
Feb

4 18 1 15 29 13 27
Mar
Apr
May

1991

10 24
Jun

1992

Latest data plotted two weeks ending: May 27, 1992
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
To the average of
two maintenance
periods ending:
10/30/91
11/27/91
12/25/91
1/22/92
3/4/92
4/1/92
4/29/92
5/27/92

Compounded annual rates of change, average of two maintenance periods ending:
5/2g/9i 8/21/91 10/30/91 11/27/91 12/25/91 1/22/92 3/4/92
4/1/92

6.8
7.0
8.6
5.9
13.0
12.3
13.1
13.0


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Federal Reserve Bank of St. Louis

10.8
12.6
7.7
17.6
16.1
16.7
16.3

13.6
4.4
21.0
18.2
18.7
17.8

2.4
24.9
20.5
20.6
19.4

27.3
20.9
21.0
19.4

37.2
32.5
27.7

Prepared by Federal Reserve Bank of St. Louis

74

Money Multiplier1/
Averages of Daily Figures
Seasonally Adjusted

Ratio

3.2
Compounded annual
rates of change,
average of the four
weeks ending
May 25, 1992 from
the four weeks ending:
May 27. 1991 3.4
Aug 19, 1991 4.0
Nov 25, 1991 4.7
Dec 23, 1991 4.8
Jan 20, 1992 4.2
Mar 2, 1992 3.0
Mar 30. 1992 -0.2

Ratio
Mar 16
Apr 13
May 11

2.622
2.622
2.605
2.613
2.630

2.9

2.6

1

15 29 13 27 10 24 8 22 5 19 2 16 30 14 28 11 25 9 23 6 20 3 17 2 16 30 13 27 11 25 8 22
Apr May Jun
Jul
'
Aug
Sep Oct
Nov Dec Jan
Feb Mar
Apr May Jun

1991
Latest data plotted two weeks ending: May 25, 1992

2.3

1992

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

280

Compounded annual
rates of change
average of the four
weeks ending
May 25, 1992 from
the four weeks ending
May 27, 1991 7.1
Aug 26, 1991 7.0
Nov 25. 1991
Dec 23, 1991
Jan 27, 1992
Feb 24, 1992
Mar 23 1992

1992

Billions

Apr 20
27
May 4
11
18
25

273.8
273.8
274.4
274.7
274.5
275.3

|

250
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

1991

Jan

Feb

Mar

13 27 11 25 8 22
Apr May
Jun

1992

Latest data plotted week ending: May 25, 1992
1/ Ratio of M1 to adjusted monetary base
2/ Current data appear in the Federal Reserve Board's H.6 release.


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

5

6

Yields on Selected Securities

Percent

Percent

Averages of Daily Figures

-Corporate-

Prime Bonk

3
Apr

17 31 14 28 12 21 9 23
May Jun
Jul
Aug
1991

20 4 18 1 15 29 13 27 10 24 7 21 S 20 3 17
Sep
Oct
Nov Dec
Jan
Feb Mar
Apr
1992

May

Jun

Latest data plotted are averages of rates available for the week ending: June 5, 1992

1992
Mar 13
20
27
Apr 3
10
17
24
May 1
8
15
22
29
Jun 5 *

90-Day
CDs

30-Day
Commercial
Paper

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

4.24
4.29
4.25
4.19
4.08
3.93
3.96
3.92
3.85
3.77
3.78
3.89
3.92

4.28
4.32
4.27
4.25
4.11
3.95
3.95
3.92
3.88
3.85
3.83
3.92
3.95

4.19
4.21
4.19
4.12
4.01
3.84
3.87
3.82
3.77
3.71
3.74
3.84
3.85

8.34
8.38
8.36
8.35
8.32
8.28
8.33
8.37
8.35
8.27
8.23
8.24
8.24

9.23
9.31
9.25
9.21
9.19
9.16
9.24
9.23
9.20
9.12
9.07
9.11
9.10

6.76
6.79
6.77
6.73
6.66
6.60
6.68
6.69
6.64
6 54
6.51
6.58
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

Averages of Doily Figures

Percent

>—Year

Discount Rate

Feb

Mar

Apr

Latest data plotted are overages of rates available for the week ending: June 5, 1992

Federal
Funds *»

3—Month
Treasury

6—Month
Treasury
Bill »♦»

1 —Year
Treasury

5—Year
Treasury
Securities

Long-Term
Treasury
Securities

|-term Treasury securities
. Ai,._____

, ■ .

' .. , ,

............................../

UIC un u uiscouni DC

* Averages of rates available
*’ sfv*n.-doy averages for week ending two days earlier than date shown
**• Auction average (discount)


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Federal Reserve Bank of St. Louis

Prepared by 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

Billions of Dollars

M2
1992
Apr 20
27
_ May 4
11
18
25

Billions
3470.5
3460.9
3469.6.
3475.7
3468.8
3458.1

M2 (left

Non-M1 M2 (right scale)

Non-M1 M2
1992 Billions
Apr 20 2524.6'
27 2519.3
May 4 2518.6
11 2520.5
18 2514.9
25 2507.2

1

15 29 11 27 10 2S
Apr May Jun

12 5 I! 2 IS 10 H 21 11 25 9 21 6 20 J 17 2 16 30 13 27 11 25 8 22
Aug
Sep Oct
Nov Dec Jan
Feb Mar
Apr May Jun
Jul

Latest data plotted week ending: May 25, 1992
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 1time 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:
To the average 5/27/91 8/26/91 10/28/91 11/25/91 12/23/91 1/27/92 2/24/92 3/23/92
of four weeks
ending:
10/28/91
11/25/91
12/23/91
1/27/92
2/24/92
3/23/92
4/27/92
5/25/92

1.0
1.6
1.9
1.8
2.6
2.5
2.0
1.8

2.7
3.0
2.5
3.7
3.4
2.5
2.3

4.4
3.1
4.8
4.2
2.8
2.5

2.3
4.7
4.0
2.4
2.1

5.1
4.1
2.1
1.8

6.0
2.4
2.0

-0.9
-0.5

-1.5

I___________


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

Savings and Money Market Funds
Averages of Daily Figure:
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Savings
1992

Billions

Apr 20
27
May 4
11
18
25

1112.5
1112.5 .
1116.1
1121.9
1125.1
1122.5

Monev Market (right

Money Market

1992

Savings Deposits (left scale)

I

IS 29 I3

Billions

Apr 20
27
May 4
11
18
25

353.4
355.5 —
357.5
356.7
355.0
352.9

JO H 2! II 25 9 23 i 20 J 17 2 It JO IJ 27 II 25 I 22
Feb Mar
Apr May Jun

Na°nd broker/dealer^

d<,p0sit°,y instituti°"s- Money market funds are ger

Large and Small Time Deposits1 /
Billions of Dollars
55Q______ ______

______

All Depository Institutions
Averages of Doily Figures. Seasonally Adjusted

Billions of Dollars

Small Time
Small Time (right scale)

1992

Billions

Apr 20
27
May 4

983.4
978.9
974.9

Large Time (left scale)
Large Time
1992

Billions

— Apr 20
27
May 4
11
18
25

Apr

407.2
403.6
404.1
404.4
401.0
402.2

May

Jun

Jul

Aug
1991

Sep

Oct

Nov

Dec

J 17 2 19 30 |J 17
25 ! 2!
Feb Mar Apr May Jun

Latest data plotted week ending: May 25, 1992


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

9

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars
1992

Billions of Dollars

Billions

-Apr 29
May 6
13
20
27
Jun 3

0.132.
6.110
0.195
0.139
0.174
6.170

i 17 1 15 29 12 26 10 21 7 21 4 11 2 16 30 13 27 11 IS S 21 S 1* 4 II I 15 29 13 27 10 21
Feb Mar
Apr May
Jun
Aug
Sep
Oct
Nov Dec Jan
Apr May Jun

Adjustment + Seasonal Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

1992

Billions

Apr 29
May 6
13
20
27
Jun 3

Billions of Dollars

0.128
0.110
0.195
0.139
0.174
0.170

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

1991
Latest data plotted week ending: June 3, 1992


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

Commercial Paper of Nonfinancial Companies

Billions of Dollars

1992

Billions of Dollars

Not Seasonally Adjusted
Billions

Apr 22

3

17 1 15 2! 12 26 10 26 7 21 4 10 2 16 30 13 27 11 25 8 22 5 1! 4 18 1 15 28 13 27 10 24
Apr May Jun
Jul
Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
Apr May Jun
1991

1992

Latest data plotted week ending: May 27, 1992

Commercial and Industrial Loans17
Weekly Reporting Large Commercial Banke 2/
Seasonally Adjusted

Billions of Dollars

380

Billions of Dollars
----------1------- 300

I
I
—
Compounded annu al
rates of change,
average of the fou
weeks ending
May 20, 1992 from
the four weeks end ing:
May 22, 1991 -S .1
Aug 21. 1991 -t .7
Nov 20. 1991 -i .3
Dec 18, 1991 -5
Jan 22. 1992 Hk 2
Feb 19, 1992
.3

370
360
330
340
330

1992

Billions__ 370

Apr 1
2'
2
May
1
2

287.506
286.635__ 360
286.026
285.964
286.332
330
284.781

340
330

320

320

310

310

300

300

290

290

200 h'r» Ml* 1 TT-t r 'I'MLi-»"r * 'mm1 'Ml ' 1 ■ 1

3

17 1 15 29 12 26 10 24 7 21
Apr May
Jun
Jul Aug

t

T

' 1 ’ T ' 1 ' TTTT r-n »

4 H 2 16 30 13 27 11 25
Sep
Oct
Nov Dec

1991

6 22 5 19 4 18
Jan Feb Mar

■Ml1

"*"T* 1

1 15 29 13 27 10 24
Apr
May
Jun

1992

Latest data plotted week ending: May 20, 1992
1/ Commercial and industrial loans include banker's acceptances and commercial paper.
2/ Banks with domestic assets greater than $1 .A billion
„
.L ^ J
.
Prepared by Federal Reserve Bank of St. Louis


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Federal Reserve Bank of St. Louis

11

Dollar’s Trade-Weighted Exchange Index
1973=100

1973=100

Averages of Dally Figures

1992 1973=100
Apr 29

May

3 17 I 15 23 12 25 10 24 7 21 4 18 2 15 30 13 27 II 25 8 22
Apr

May

Jun

Jul

Aug
1991

Sep

Oct

Nov

Dec

Jan

19 4 18 1
Feb

6

15 29 13 27 10 24

Mar
Apr
1992

May

Jun

Latest data plotted week ending: June 3, 1992
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


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Federal Reserve Bank of St. Louis

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