Full text of U.S. Financial Data : March 18, 1983

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U.S. Financial Data
Federal Reserve Bank of St. Louis

JBRARY

March 18,1983

’

'

m 2 2 1983
Required reserves of member banks were reduced in
the statement week ending March 9, 1983. This is the fifth
phase in the gradual transition of member bank reserve
requirements from those in effect as of August 31, 1980, to
those specified in the Monetary Control Act of 1980. This
phase-in process for member banks will be completed on
March 1, 1984.
A reduction in reserve requirements means that a
given level of bank reserves can now support a higher level
of checkable deposits. Hence, such a reduction has an
expansionary impact on money growth unless it is offset by a
reduction in the source base (reserves plus currency). The
combined effects of the reserves released by the reduction in
reserve requirements and any offsetting changes in the
source base are reflected in the adjusted monetary base
series published on page 2 of this release. The adjusted
monetary base equals the source base plus a reserve
adjustment magnitude (RAM) designed to reflect the reserve
releasing or absorbing effects of changes in reserve
requirements. RAM is calculated by subtracting the current
level of required reserves from the level that would be
required if the base period reserve requirements were applied
to the current level of deposit liabilities. Hence, a reduction
in reserve requirements in the current period increases RAM
and therefore the adjusted monetary base.
For the week ending March 9, RAM increased by
about $2 billion. In the same week, the Federal Reserve
reduced Reserve Bank credit outstanding by about $1 billion
and did not offset the $800 million rise in Treasury deposits.
Thus, the source base, which is not seasonally adjusted, fell
by about $1.8 billion. This decline indicates that the
expansionary effect of the recent reduction in reserve
requirements was largely offset.


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

—Dallas S. Batten

2
ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
192

BILLIONS
186.9
188.1
188.5
189.5
190.0
189.7

174

172

20
JAN

3 17
FEB

3

17 31

14 28

12 26 JUN
9 23 1 7
21
JUL

4

18

1

15 29 OCT
13 27 NOV
10 24

8 22

5

19

2

16

2

16 30

1983

1982
LATEST DATA PLOTTED WEEK ENDING: MARCH 16, 1983

THE ADJUSTED MONETARY BASE CONSISTS OF: 11) RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT
FEDERAL RESERVE BANKS, (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE
VAULTS OF ALL DEPOSITORY INSTITUTIONS). AND ( 3 ) 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 AVAIL­
ABLE FROM THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
3/17/82

6/16/82

8/18/82

7.4
7.3
7.0
7.4
7. 1
7.7
8.2
9.2

4.8
4.9
6.0
5.8
6.8
7.6
9.0

6.0
7.4
6.8
8.0
8.9
10.5

AVERAGE OF FOUR WEEKS ENDING:

9/15/82 10/13/82 11/17/82 12/15/82

1/19/83

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
8/18/82
9/15/82
10/13/82
11/17/82
12/15/82
1/19/83
2/16/83
3/16/83


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

7.6
6.8
8.3
9.3
11.1

7.6
9.1
10.3
12.2

8.9
10.5
13.0

13.0
15.5

17.7

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

ADJUSTED RESERVES
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
54

BILLIONS
FEB.

MAR.

51.5
51.7
53.0
52.2
53.4
53.4

JAN
LATEST DATA PLOTTED WEEK ENDING: MARCH 9,

TIP.BASE
BANKS PLUS CURRENCY IN

FEB
1983

1983

‘RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL RESERVE
CIRCULATION) LESS CURRENCY HELD BY THE NONBANK PUBLIC.

ADJUSTED RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE ,
3/10/82

6/9/82

8/11/82

9/8/82

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
8/11/82
9/ 8/82
10/ 6/82
11/10/82
12/ 8/82
1/12/83
2/ 9/83
3/ 9/83

AVERAGE OF FOUR WEEKS ENDING

10/6/82 11/10/82

12/8/82

1/12/83

12.0
21.3

30. 1

5
4.9
5.0
4.0
5.6
5.5
5.9
6.7
9.3


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

2.5
1.2
4.4
4.5
5. 1
6.4
9.8

1.3
6.6
6.3
6.8
8.2
12.6

7.2
6.6
7. 1
8.8
13.7

10.9
10. 1
11.5
17.0

7. 1
9.9
17.3

PREPARED BY FEDERAL RESERVE BANK OF ST.

3

LOUIS

4
MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

1983
FEB.

BILLIONS OF DOLLARS
505

BILLIONS

500

487.5
495

489. I
492.5
493.0
497.8

490
485
480
475
470
465
460
455
450
445

I I I I
1

15 29

13 27

OCT
LATEST DATA PLOTTED WEEK ENDING: MARCH 9,

10 24

8

22

NOV

1983

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
Ml CONSISTS OF CURRENCY HELD BY THE NONBANK PUBLIC PLUS COMMERCIAL BANK DEMAND DEPOSITS
HELD BY THE NONBANK PUBLIC (EXCLUDING THOSE HELD BY FOREIGN BANKS AND OFFICIAL INSTITUTIONS)
AND OTHER CHECKABLE DEPOSITS OF ALL DEPOSITORY INSTITUTIONS PLUS TRAVELERS' CHECKS.

MONEY STOCK ( Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
3/10/82

6/9/82

8/11/82

9/8/82

AVERAGE OF FOUR WEEKS ENDING:

10/6/82 11/10/82

12/8/82

1/12/83

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
8/11/82
9/ 8/82
10/ 6/82
11/10/82
12/ 8/82
1/12/83
2/ 9/83
3/ 9/83

4.3
5.4
6.2
7.8
8.2
8.2
9. 1
10.0


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

5.4
6.9
9.2
9.6
9.4
10.5
11.6

11.6
13.8
13.4
12.3
13.3
14.4

14.9
14.0
12.5
13.6
14.9

14.9
12.6
14.0
15.5

10. 1
12.7
14.9

13.1
15.8

20.6

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

MONEY MULTIPLIERi/
CURRENCY COMPONENT OF MONEY STOCK
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
2.9

RATIO
2.9

,---------- 1------------- 1---------1983
FEB.

MA R.

RATIO

2
9
ie
23
2
9

2.620
2.625
2.6C 0
2.61 3
2.60 2
2.62 0

Ml ML LTIPL IER
A:

in .111

a

1111

-LI 1

.1 l.l

l_LJ_LL

111

lLLL

iiii

-LLL 1.1 1

mi

mi

./

111

J..1.11

j

LATEST DATA PLOTTED WEEK ENDING; MARCH 9,
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
MO

COMPOUNDED ANNUAL RATES
----- OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING
~ MARCH 9, 1983 FROM
-----THE FOUR
WEEKS ENDING:
-

JAN.
DEC.
-----NOV.
- OCT.
SEP.
-----JUN.
_
MAR.

138
136

12, 1983 13.4
8, 1982
12.7
10, 1982 10.8
6, 1982
9.9
8, 1982 9.6
9, 1982
8.5
10 1982
8.9

134
132

CURRENCY

1983

MAR.

BILLIONS

126

134.6
35.2

124

]36.3
1 36! 6

J I 1 I I I I I I I I I I I I I
3

17 31

14

28

12

26

LATEST DATA PLOTTED WEEK ENDING: MARCH 9,

1983

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

5

122
0

6
YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
20.0

20.0

19.0

18.0

17.0

PRIME BANK
LOAN RATE

16.0
90 DAY
CD'S
15.0

13.0

CORPORATE
Aaa BONDS

12.0
MUNICIPAL
BONDS
11.0

10.0

COMMERCIAL
PAPER
7.0

0
1983

1982
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MARCH 18,

1983
JAN.

7
14
21

FEB.

MAR.

28
4
1 1
18
25
4
1 1
18 *
25

1983

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS XX

8.51
8. 18
8. 18
8.51
8.68
8.63
8.54
8.34
8.24
8.55
8.64

8.43
8.04
8.03
8.23
8.39
8.37
8.32
8. 14
8. 16
8.44
8.49

8.36
8.03
8.09
8.35
8.55
8.49
8.37
8. 19
8. 13
8.46
8.48

11.77
11.70
11.70
11.94
12.06
12.11
12.08
11.82
11.63
11.72
11.84

14.04
13.92
13.84
13.96
14.01
14.02
13.97
13.81
13.67
13.65
13.60

9.48
9.37
9.48
9.66
9.74
9.72
9.53
9.34
9.04
9.22
N. A.

K AVERAGES OF RATES AVAILABLE.
## 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 ENDED FRIDAY

PERCENT
18.0 i—

PERCENT
— 18.0

17.0

16.0

FEDERAL
FUNDS RATE

16.0

15.0

14.0

13.0

DISCOUNT
RATE

5-YEAR
TREASURY SECURITIES
11.0

3-MONTH
TREASURY BILL

2

JAN

FEB

MAR

APR

MAY

JUN

16 30

JUL
1982

13 27

AUG

10 24

SEP

8

22

OCT

NOV

DEC

JAN

FEB
1983

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MARCH 18,

1983
JAN.

FEB.

MAR.

7
14
21
28
4
1 1
18
25
4
1 1
18 *
25

FEDERAL
FUNDS *#
10.21
8.42
8.49
8.44
8.53
8.50
8.62
8.47
8.44
8.59
8.57

3-MONTH
TREASURY
BILL
7
7
7
8
8
8
8
7
7
8
8

92
66
75
05
16
22
16
91
97
25
26

6-MONTH
TREASURY
BILL ***
7
7
7
8
8
8
8
7
7
8
8

95
77
73
14
23
35
39
97
95
17
26

1-YEAR
TREASURY
BILL
8
7
7
8
8
8
8
8
7
8
8

02
82
96
19
34
41
33
06
98
27
29

5-YEAR
TREASURY
SECURITIES
10.04
9.88
9.92
10.22
10.38
10.45
10.28
9.95
9.76
10.03
10.03

MAR

1983

LONG-TERM
TREASURY
SECURITIES
10.49
10.49
10.60
10.88
11.01
11.04
10.91
10.59
10.45
10.67
10.68

# AVERAGES OF RATES AVAILABLE.
#* SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 RELEASE.
**# NEW ISSUE RATE
RATES ON LONG-TERM TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST. LOUIS.
TREASURY BILL YIELDS ON DISCOUNT BASIS.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
TOTAL CHECKABLE DEPOSITS^/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
365

BILLIONS

1983

360

348.8
351.4
350. 1
352.1
353.0
357.2

FEB.

MAR.

355

350

325

320

315

310

3

17

31

M

28

12

5 29

26

13 27

OCT

10 24

NOV
1983

1982
LATEST DATA PLOTTED WEEK ENDING: MARCH 9,

1983

1/ DEMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITORY INSTITUTIONS

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
3/10/82

6/9/82

8/11/82

9/8/82

AVERAGE OF FOUR WEEKS ENDING:

10/6/82 11/10/82

12/8/82

1/12/83

TO THE AVERAGE
OF FOUR WEEKS
END 1 NG
8/11/82
9/ 8/82
10/ 6/82
11/10/82
12/ 8/82
1/12/83
2/ 9/83
3/ 9/83

2.8
4.4
5.6
7.7
8.5
8.5
9.6
10.8


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

5. 1
7.0
10.2
1 1.0
10.5
11.9
13.2

13.4
16.6
16.4
14.4
15.6
17.0

18. 1
17.4
14.7
16. 1
17.5

19. 1
15.0
16.6
18.3

11.4
14.7
17.2

14.2
17.7

24.2

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

TOTAL TIME DEPOSITS^
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

1983
Z JAN.
— FEB.

26

BILLIONS OF DOLLARS
850

BILLIONS

840

741.9
731.6
723.5
717.5

830
820

706.6
810
800
790
780

~B 770
760
750
740
730
720

700
6 20
w

3 17
^ ii

3

JAN

FEB

MAR

17 31
ii .»i

14 28 12 26
i “ co ic cu

APR

MAY

a cv

JUN

i

ci

JUL
1982

LATEST DATA PLOTTED WEEK ENDING-. MARCH 2,

■»

I

ic

AUG

15 29

13

27

OCT

10 24

8 22

5

I

0

NOV

1983

1/ SAVINGS DEPOSITS PLUS SMALL TIME DEPOSITS PLUS LARGE TIME DEPOSITS
0
200

MMDAs, MMMFs and "SUPER NOWs"
(billions of dollars, not seasonally adjusted)
MMDAs 1/
Feb.

Mar.

2
9
16
23
2
9

MMMFs 2/

$242.8
261.3
276.2
289.5
299.4
310.3

$209.0
207.0
204.6
203.4
202.5
199.9

"SUPER NOWs" 3/
$19.5
21.6
22.7
23.5
24.5
25.5

1/ Money market deposit accounts at all depository institutions, effective 12/14/82
2/ Total money market mutual fund balances.
1/ NOW accounts at all depository institutions, requiring a $2,500 minimum balance
and eligible to earn more than 5.25 percent, effective 1/5/83.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10
SMALL TIME DEPOSITS 1/
COMMERCIAL BANK SAVINGS DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
450
E--------1---------- 1------------- 1---------- —
440 =~ COMPOUNDED ANNUAL R
E OF CHANGE, AVERAGE DF
430 — THE FOUR WEEKS END 1
= MARCH 9a 1983 FROM
420
410
400
390
380

—
E
—
x
—
=

JAN.
DEC.
NOV.
OCT.
SEP.
JUN.

E

"

12 ,
8,
10 ,
6,
8,
9,

1983 -50.
1982 -45.
1982 -37.
1982 -31.
1982 -26.
1982-13.

-

BILLIONS OF DOLLARS
450
X

440

E
E
x
SMALL TIME

)EPOS

E

350
340

x
=
\
E
A

390

i

370
360
350

E

V
1983

BILLIONS

-

E

FEB.

320

2
9

345.6
341.4

310

=
=

MAR.

2
9

332.0
329.5

300

410

380

S

'

i __

=
330

420

400

E
\

E
360

430

si 111111.111.111111
0

E
^

=

320

E
E
111

J. i_LL XU. IJX

LATEST DATA PLOTTED WEEK ENDING: MARCH 9.

XU 1

1 1 1

1 1 1

nil

111

310
300

■

XU. L-l-i.J-

0

1983

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
190

ILL IONS
IAN.

340
330

185

21
180
175

MAR.

170
SAVINGS DEPOSITS
165
160
155
150
145
140
135

1982
LATEST DATA PLOTTED WEEK ENDING: MARCH 2,

1983

1/ COMMERCIAL BANK TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN $100,000.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

•T

BORROWINGS FROM FEDERAL RESERVE BANKS
1983

AVERAGks OF DAILY FIGURES

,

billions of dollars

billions of

dollars

MILLIONS

IT FEB.

3

JAN

17 31

14

28

12

26

9 23

7

21

1

15 29

13

27

10 24

8

22

FEB

JAN

LATEST DATA PLOTTED WEEK ENDING-. MARCH 16,

FEB
1983

1983

BUSINESS LOANS u
(COMMERCIAL AND

INDUSTRIAL)

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
228 ---------- 1-----------\---------

BILLIONS OF DOLLARS
----------------- ------------- 228

COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
THE FOUR WEEKS ENDING MARCH 9, 1983 FROM
THE FOUR WEEKS ENDING:

- JAN. 12.
“DEC. 8,
“ NOV. 10,
- OCT. 6,
_ SEP. 8,
_ JUN. 9,
_ MAR. 10,

1983
1982
1982
1982
1982
1982
1982

-0.8

MILLION?
FEB.

2

MAR.

2

219,003
217,138
217,055
216,870
217,810

1 I I I I I I I I M M I I
6

20

JAN

3

17

FEB

3

17

MAR

31

14

APR

28

12

MAY

26 9

23

JUN

7

21

JUL
1982

LATEST DATA PLOTTED WEEK ENDING: MARCH 9,

4

lfi

1

15 29

AUG

13 27

OCT

10 24

8 22

5

19

NO V
1983

1983

1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS OF *750 MILLION OR MORE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

12
LARGE TIME DEPOSITS
ALL
ILL IONS OF DOLLARS

COMMERCIAL BANKS

AVERAGES OF DAILY FIGURES
SEASONALLY AD JUS I tU

LATEST DATA PLOTTED WEEK ENDING: MARCH 9,

ILL IONS OF DOLLARS

1983

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF *100,000 OR MORE.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

L