Full text of U.S. Financial Data : March 10, 1988

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RESEARCH

LIBRARY

ancial Data
WAR i 4 1988

March 10, 1988

THE WEEK'S HIGHLIGHTS:
v*

From the four weeks ending December 28, 1987, to the four weeks
ending February 29, 1988, M2 increased at a 9.4 percent annual
rate.

is

Interest rates generally are little changed from their levels of a month
ago. The three-month Treasury bill rate for the week of March 11
was 5.73 percent, compared with 5.65 percent for the week ending
February 12. The rate on five-year Treasury securities was 7.78
percent for the week of March 11, compared with 7.67 percent a
month earlier.

ts

Consumer credit outstanding increased by a seasonally adjusted $5.42
billion (an 11.2 percent rate) in January. The January level was up
6.7 percent from a year earlier.

v*

Total civilian employment rose 280,000 in February to a seasonally
adjusted 114.4 million. In February, the civilian unemployment rate
fell one-tenth of a percentage point to 5.7 percent, its lowest level
since July 1979.

DigitizedViews expressed do not necessarily reflect official positions of the Federal Reserve System.
for FRASER
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Federal Reserve Bank of St. Louis

2

ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

1986
DEC.
JAN.
— FEB.
MAR.

BILLIONS OF DOLLARS
276

BILLIONS

90
13
27
10
24
9

270.7
273.0
272.1
272.4
271 .2

272

260

256

M 26 11

JAN

25 II

FEB

29

6 22

6 20

5 17

MAY

MAR

JUN

.1

15 29 12 26

fl 23

7 21

4 IB

OCT

NOV

2

16 30 13 27 10 24

JAN

1987

0 23

FEB
1988

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING: MARCH 9, 1988
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:
3/11/87

6/3/87

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING:
8/12/87
9/ 9/87
10/ 7/87
11/ 4/87
12/ 2/87
1/13/88
2/10/88
3/ 9/88

8/12/87
K .

5.3
6.0
5.8
6.4
6.8
6.4
7.4
6.5


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5.3
5.0
6.1
6.7
6.2
7.5
6.3

9/9/87

10/7/87

11/4/87

12/2/87

1/13/88

7.7
8.3
7.0
8.9
6.9

10.5
7.8
10. 1
7.4

6.4
9.7
6.5

9.7
5.7

6.7

. ...

7.2
8.6
8.9
7.6
9.2
7.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SLA5UNALLY ADJUSTED

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

JAN.

25

BILLIONS OF DOLLARS
—------------- --------Z1 780

763.2
764. I
761.1
759.8
762.1

-Li-1. I
JAN

FEB

MAR

APR

MAY

JUN

JUL

AUG

SEP

4 18

OCT

DEC

I

15 20 14

JAN

1987

1988

LATEST DATA PLOTTED WEEK ENDING: FEBRUARY 29,

1988

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
“epo1itsEandMtravIlersnchecksD

by the

N0NBAt* rU0LIC' DEUAN° DEPOSITS,

other checkable

MONEY STOCK (Ml 1
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF
FOUR WEEKS ENDING!
3/2/87
6/1/87 7/27/87 8/31/87 9/28/87 10/26/87 11/30/87 12/28/87
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
7/27/87
8/31/87
9/28/87
10/26/87
11/30/87
12/28/87
2/ 1/88
2/29/88

4.3
4.3
3.8
5.2
3.9
3.2
4.3
3.9


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

0.3
0.4
3.2
1.7
1 .0
2.9
2.4

2.8
6.7
3.5
2.2
4.4
3.6

8. 1
3.1
1.5
4.4
3.5

4.1
1.7
5.2
3.9

2.4
1.5

3.8

7.2

PREPARED BY FEDERAL RESERVE BAI* OF ST. LOUIS

3

4

MONEY MULTIPLIER^
CURRENCY AVERAGES OF DAILY FIGURES
COMPONENT OF MONEY STOCK

v

SEASONALLY ADJUSTED

RATIO

1988
DEC.

14
28
11
25
8
22

JAN.
FEB.

RATIO

RATIO
2.805
2.809
2.783
2.790
2.804
2.794

Ml MULTIPLIER

12 26

JAN

9 23

9 23

8 20

I

15 29 13 27 10 24

MAY

7 21

5 19

SEP

4 18

APR

FEB

OCT

2

16 30 14 29 II

DEC

25

8 22

7 21

JAN

LATEST DATA PLOTTED TWO WEEKS ENDING* FEBRUARY 22, 1988
BILLIONS OF DOLLARS
206

BILLIONS OF DOLLARS
206 :—i—i------------1—i—
COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF

-

|

ii
1 1 1 11

28,
30,
26,
28,
31
1,
2,

1987
1987
1987
1987
1987
1987
1987

i'—.

9.E
9.2
10.2
10.2
9.E
8. £
e.e

m i

C.
V.
T.
P.
G.
N.
R.

202

1

11

BRUARY 29, 1988 FF OM
E FOUR WEEKS END IFM3*

i i

i |

_

CURRE NCY
-

186
m4.
J.

a lll
I
19

JAN

1111

2 16

2 16 SO 13 27 11

MAR

111

ILL IL1.L 111

1 1 1
FEB

APR

MAY

25

8 22

JUN

1 1 1

1 1 1

1 1 II

SEP

1 1 1 1

OCT

NOV

111

25 199.0
_
1 199.8
_
8
199.4
15
199.4
—
22
199.5
29
199.1
_
11111111111V

6 20

JUL
1987

DEC

JAN

FEB
1988

LATEST DATA PLOTTED WEEK ENDING* FEBRUARY 29, 1988
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
UP DAILY FIGURES
SEASONALLY ADJUSTED

AVtKAGtS
LLIONS OF DOLLARS

BILLIONS OF DOLLARS
----------------------------=1 580

BILLIONS
556.9
557.0
554.5
553. I
555.3
548.7

5 18

2 10

JAN

FEB

2 16 30

13 27 11

APR

25

8 22

6 20

3 17 31

MAY

M 28 12 26

SEP

9 23

7 21

4 18

DEC

OCT

JAN

1987

I

15 29 14 28

!gee

LATEST DATA PLOTTED WEEK ENDING-. FEBRUARY 29,

1988

DEPOSITORY^NSTITUT?ONSS 'S ™E SUM ** DEMAND DEP°SITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
3/2/87

6/1/87

7/27/87

8/31/87

AVERAGE OF FOUR WEEKS ENDING!

9/28/87 10/26/87 11/30/87 12/28/87

TO THE AVERAGE
OF FOUR WEEKS
ENDING*.
7/27/87
8/31/87
t/28/87
10/26/87
11/30/87
12/28/87
2/ 1/88
2/29/88

3.3
3.3
2.6
4.3
2.4
1.4
2.7
2.2


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

-2.0
-2.0
1 .6
-0.7
-1.7
0.5
0. 1

0.8
6.0
1.3
-0.4
2.3
1.5

7.8
0.6
-1.4
2. 1
1.2

1.7
- 1.2
3.0
1.8

-8.9
-1.1
-1.6

4.3
1.8

6.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT
12.0

CORPORATE
Aaa bonds

t ME BANK
>AN RATE

90 DAY
7.0

MUNICIPAL

2 18 30 13 27

FEB

IS 27

MAR

10 24

8 22

S 10

3 17 31

APR

14 26 II

AUG

23

8 23

6 20

4

NOV

SEP

DEC

18

1987

FEB
1988

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt MARCH 11,

1988
JAN.

FEB.

MAR.

1
8
15
22
29
5
12
19
26
4
11 X
18
25

MAR

1988.

90 DAY
CD'S

30-DAY
COMMERC1AL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
AM BONDS

CORPORATE
Bm BOM)S

MUNICIPAL
BONDS KK

7.38
7.03
6.99
6.87
6.77
6.63
6.54
6.64
6.61
6.58
6.62

7.45
6.85
6.80
6.75
6.66
6.59
6.47
6.61
6.53
6.54
6.54

7. 17
6.89
6.83
6.73
6.62
6.50
6.43
6.55
6.48
6.45
6.49

10.06
10.00
10.00
9.88
9.64
9.46
9.42
9.41
9.33
9.27
9.33

11.24
11.22
11.19
11.02
10.85
10.71
10.62
10.60
10.56
10.48
10.47

7.86
7.83
7.83
7.61
7.51
7.49
7.40
7.55
7.52
7.47
N. A.

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


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED INTEREST RATES
AVERAGES OF DAILY RATES

PERCENT
11.0 i—

PERCENT

—i 11.0

TREASURY SECURITIES

FEDERAL.
FUNDS

3TREAS

DISCOUNT RATE

‘

lo

^

JAN

FEB

10

MAR

iu 24 a 22

APR

MAY

3

19

JUN

3 17 31

JUL

M 20 II 25 0 23

AUG

SEP

8 20

4 18

1

NOV

OCT

DEC

JAN

15 28 12 26 11

'987

FEB
1ggg

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDlNGi MARCH 11,

FEB.

MAR.

1988.

FEDERAL
FUNDS XX

1986
JAN.

25

MAR

1
8
22
29
5
12
26
4
1 1 X
18
25

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL XXX

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

6.81
7.02
6.81
6.89
6.66
6.77
6.38
6.65
6.64
6.60
6.51

5.73
5.86
5.81
5.85
5.74
5.67
5.65
5.72
5.63
5.63
5.73

6.32
6.35
6.33
6.37
6. 19
6. 1 1
5.85
6.03
5.83
5.86
5.93

6.66
6.66
6.63
6.45
6.33
6.22
6. 16
6.27
6.20
6.20
6.28

8.38
8.37
8.33
8.08
7.91
7.73
7.67
7.79
7.70
7.63
7.78

9.05
9.07


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Federal Reserve Bank of St. Louis

ENDIN0 ™° DAYS EARL1«

8 79
8.42
8.55
8.44
8.60

SHOWN

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
COMMERCIAL BANK
SMALL TIME DEPOSITS 1/
LARGE TIME DEPOSITS*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
400 ---------- 1---------- 1-------198.fi.

BILLIONS OF DOLLARS
------------------------------- 400

BILLIONS.
388.9
389.9
392.0
393.6
394.1
395.3

SMALL TIME DEPOSITS

LATEST DATA PLOTTED WEEK ENDING: FEBRUARY 29, 1988
BILLIONS OF DOLLARS
330

BILLIONS OF DOLLARS
1999
I.

BILLIONS

25

325

317.7
318.7
322.1
324.3
323.6
325.3

320

LARGE TIME DEPOSITS

315

310

305

Mil

I I I I
5 10

2 16

JAN

FEB

2

16 30 15 27 11 25

APR

8 22

6 20

3 17 31

LATEST DATA PLOTTED WEEK ENDING* FEBRUARY 29,

14 28 12 26

SEP

MAY

OCT

0 23

7 21

4 18

DEC

JAN

1

15 20

14 26

1988

1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 6100,000
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL BANK
TOTAL TIME DEPOSITS
AVERAGES OF DAILY FIGURES
BILL IONS OF DOLLARS
910
1
1
900

1986

- JAN.
I FEB.
-

890

-

25
1
8
15
22
2€

SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

1

910

BILLIONS
885.9
888.2
894.3
898.5
899.0
902. 6

900

890

880

880
-

/

870

870

T
860

860
-

850

850

/
840

840

/
-

830

830
-

820

820
!

0

‘717
9 iw
JAN

111 _LLU_ -LI 1
1 1 1
1 1 1 1
2 18 i 10 90 19 27 11 25 8 22
FEB MAR
APR
MAY
JUN

1 1 1
8 20
JUL

l 1 l l
111
1 1 1
II 1 1
1 1 1
3 17 31 14 28 12 26 8 23 7 2J
AUG
SEP
OCT
NOV
DEC

1 1 1
4 18
JAN

1987

11 r
1 15 21 14 2
FEB
MAR
1988

LATEST DATA PLOTTED WEEK EMIING: FEBRUARY 29, I BBS
TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AM) LARGE TIME DEPOSITS.

TOTAL TIME DEPOS1TS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
3/2/87

6/1/87

7/27/87

8/31/87

5.2
7.3
10.2
9.5
7.8
9.1

7.9
1 1 .8
10.5
8.2
9.7

9/28/87 10/26/87 11/30/87 12/28/87

TO THE AVERAGE
OF FOUR WEEKS
ENDING*.
7/27/87
8/31/87
9/28/87
10/26/87
11/30/87
12/28/87
2/ 1/88
2/29/88

9.4
8.8
8. 1
8.6
9.8
9.5
8.5
9.2


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

8.0
7.0
8.0
9.9
9.4
8. 1
9. 1

15.6
12.6
9.2
10.8

12.8
8.3
10.5

3 l
7.5

8.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

0

10

BORROWINGS FROM FEDERAL RESERVE BANKS
BILLIONS

OF

AVERAGES OF DAILY FIGURES

DOLLARS

BILLIONS OF DOLLARS
3.0

MILLIONS

TOTAL BORROWINGS

2.0

0.5

LATEST DATA PLOTTED WEEK ENDINGt MARCH 9, 1988
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
1988
FEB.

MILLIONS
3

188
ADJUSTMENT + SEASONAL
BORROWINGS

Mil

I I I I
4 18

1

15

13 27

MAY

10 24

8 22

5 19

JUN

2 16 30 14 28 11

OCT

25

0 23

6 20

3 17

2

1C 30

NOV

LATEST DATA PLOTTED WEEK ENDINGt MARCH 9, 1988


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
_

billions of dollars

1968

- JAN. 27
FEB. 3
88,847
87,541
MAR.

2

80

75

4 18

JAN

4 18

FEB

MAR

I

IS 20 19 27 10 24

MAY

8 22

S 10

2 18 90 14 28 II

JUN

OCT

LATEST DATA PLOTTED WEEK ENDING: MARCH 2,

25

0 29

8 20

3 17

JAN

NOV

FEB

2 18 90

1988

♦ DASHED LINE REPRESENTS DATA USING A NEW REPORTING PANEL AND IS NOT COMPARABLE TO PREVIOUS DATA.

LOANS u
INDUSTRIAL)

BUSINESS
(COMMERCIAL AND

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
295 ---------- --------------------

BILLIONS OF DOLLARS
------1------------- 1---------- 295
COMPOUNDED ANNUAL RATES
_
OF CHANGE, AVERAGE OF
the four Weeks ending
DECEMBER 30. 1987 FROM
“
THE FOUR WEtKS ENDING: —
OCT.
SEP.
SEP.
JUL.
JUL.
APR.
DEC.

28,
30,
2,
29,
1,
1,
31,

1987
1987
1987
1987
1987
1987
1986

3.8
6.2
------

-

-0.7

NOV. 25
DEC. 2
277,744
278,725
276,596
I I I I
5 10

NOV

9 17 91

DEC
1986

14 28 II 29 II

JAN

FEB

MAR

25

8 22

APR

8 20

9

MAY

JUN

i-LL.1,1 11 I I I I I I I

17

I

19 20 12 28

JUL
1987

AUG

0 29

SEP

7 21

4 18

OCT

NOV

2 16 90 15 27

DEC

JAN
1988

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 30, 1987
1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11