Full text of U.S. Financial Data : March 21, 1985

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Federal Reserve Bank

°ftt&-financial Data
MAR 2 5 1905

March 21,1985

Since the end of January, both business loans and large time
deposits at commercial banks have surged, growing at annual
rates of 20.7 percent and 12.6 percent, respectively, from the
four weeks ending January 30 to the four weeks ending March 6.
When the demand for business loans rises, banks generally
accommodate this by raising additional loanable funds through
increasing their issuance of large time deposits. On the other
hand, when business loan demand is relatively weak, banks have
less incentive to issue these deposits. Consequently, large time
deposits and business loans tend to have similar secular patterns.
Past movements of business loans and large time deposits at
all commercial banks clearly exhibit this relationship. From
December 1983 to July 1984, business loans grew at an 18.2
percent rate while large time deposits advanced at a 20 percent
rate.
Business loan growth slowed markedly in August,
accompanied by a similar change in the growth of large time
deposits. Business loans proceeded at only a 6.3 percent rate
from July to January 1985 while the growth of large time deposits
decelerated to a 6.2 percent rate.

The business loan series published on page 11 of this release
now includes adjustments that reflect the effects of bank
mergers and new seasonal factors.

—Dallas S. Batten

TOE
FEDERAL
A RESERVE
X RANK of
Or ST. IXX IS

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 AOJUSTED BY THIS BANK

BILLIONS OF DOLLARS
228 --------- 1------------ r—

BILLIONS OF DOLLARS

218.7
221.0

224.3

4 16
JAN

1 15 29 14 29 II 29 0 23
FEB
MAR
APR
MAY

6 20
JUN

4 10
JUL

I

13 20 12 20 10 24

AUG

SEP

OCT

7 21

8 10

NOV

DEC

2 10 30 13 27

JAN

1984

13 77

FEB
1985

LATEST DATA PLOTTED MEEK ENDING. MARCH 20,
THE ADJUSTED MONETARY BASE IS THE SUM OF

BANK.

S OF FINANCIAL INSTITUTIONS AT FEDERAL
THE PUBLIC AM) IN THE VAULTS OF ALL

™T^«TJ«Ec8IMfcD HP

:SERVE CREDIT.
D.
A DETAILED DESCRIPTION OF THE ADJUSTED MONE'[TARY BASE ----------S AVAILABLE FROM THIS BANK.

RECENT DATA ARE PRELIMINARY.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
3/21/84

8/20/84

8/22/84

5.9
6.7
6.3
5.8
6.0
6.5
5.9
6.9

4.4
4.2
3.9
4.8
5.5
4.7
6.3

7.2
5.6
6.2
7.1
5.8
7.7

9/19/84 10/17/84 11/21/84 12/19/84

1/23/85

0 THE AVERAGE
IF FOUR WEEKS
■NDING:
8/22/84
9/19/84
10/17/84
11/21/84
12/19/84
1/2S/85
2/20/85
3/20/85


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

3.3
4.7
6.3
4.9
7.2

5.2
7.1
5.2
7.9

9.5
6.1
9.4

5.2
9.7

9.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
580

BILLIONS.

575

564.9
572.8
572.7
570.6

570

565

560

555

550

545

540

535

530

2

18 30 13 27

FEB

12 28

0 23

7 21

4 18

MAR

2 16 SO 13 27 10 24
AUG
SEP

8 22

5 18

3 IT 31

14 28 11

JAN

1984
LATEST DATA PLOTTED WEEK ENDING* MARCH 11,

25 II

FEB

25

MAR

1985
1985

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
Ml IS THE SUM OF CURRENCY HELD BY THE NONBANK PUBLIC, DEMAND DEPOSITS, OTHER CHECKABLE
DEPOSITS AND TRAVELERS CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
3/12/84

6/11/84

8/13/84

9/10/84

5.4
5.5
4.8
4.0
4.8
5.8
5.9
6.7

3.9
3.0
2.2
3.7
5.2
5.5
6.5

3. 1
1 .7
4.1
6. 1
6.4
7.6

-0.3
3.4
6. 1
6.4
7.8

10/8/84 11/12/84 12/10/84

1/14/85

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
8/13/84
9/10/84
10/ 8/84
11/12/84
12/10/84
1/14/85
2/11/85
3/11/85


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

4.9
7.9
7.9
9.3

12.9
11.3
12.4

10.9
12.4

11.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

2.9

-------------- 1------------1------------1-------------1985
FEB.

RATIO
.1

2*514

2.8

if
MAR
11

Ml MUL T1 PL 11 :r

A

\T

1 1 1

1 1 1

1 1 1 1

1 i i

2.6

S'

V-

111

1 1 1 1

1 1 1

i i i

i i ii

i i i

i i i i

i i i

✓

i i i

i i i*

LATEST DATA PLOTTED WEEK END INC* MARCH II,
BILLIONS OF DOLLARS
166

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR *EEKS ENDING
MARCH 11. 1985 FROM
THE FOUR WEEKS ENDING*

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

M,
10,
12,
8,
10,
11,
12,

1985
1984
1984
1984
1984
984
1984

164

162

8.5
7.3
7.0
6.3
6.0
6.7
6.9

160
158

CURRENCY

im
FEB.

B.LLLLQJ&
4

150.8

152

150

146

U.1.1.11 l-lll L1 I..J ..LL
216 SO 15 27 It M

4 IS

9
MAY

2

10 30 13

JUN

LATEST DATA PLOTTED WEEK ENDING* MARCH II,

AUG

27

10 24

«

22

SEP

5 19

5 17 51

14 28 II 28 II 29
JAN

FEB

MAR

1085

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

399.8

406.0
404.3

FEB

MAR

MAY

4 18
JUN

2 16 50 IS 27 10 24

AUG

8 22

5 10

SEP

1984
LATEST DATA PLOTTED WEEK ENDING: MARCH II,

5 17 51

14 28 11 25 II 25
JAN
FEB
MAR
1985

1985

TOTAL CHECKABLE DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL
DEPOSITORY INSTITUTIONS.

TOTAL CHECKABLE DEPOS TS
COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING:
3/12/84

8/11/84

8/13/84

9/10/84

4.5
4.6
3.8
2.9
4. 1
5.4
5.6
6.6

2.5
1.5
0.7
2.8
4.9
5.2
6.5

1 .9
0.3
3.6
6.4
6.6
8.2

-1.9
3.0
6.6
6.8
8.6

10/8/84 11/12/84 12/10/84

1/14/85

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
8/13/84
9/10/84
10/ 8/84
11/12/84
12/10/84
1/14/85
2/11/85
3/11/85


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

5.2
9.1
8.7
10.5

15.9
13.2
14.6

12.4
14.4

13.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

PERCENT
15.0

14.0

CORP<

"n /
MUNICIPAL

6 20

3 17

JAN

FEB

2 16 30 IS 27

APR

II

25

8 22

8 20

3 17 31

MAY

14 28 12 20

SEP

6 23

OCT

7 21

4 18

1

DEC

JAN

FEB
1985

1984

IS

1

IS 20

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK END INGt MARCH 22. 1985.

1985
JAN.

FEB.

MAR.

NOTEt

4
1 1
18
25
1
8
15
22
1
8
15
22 X
29

90 DAY
CD'S

30-DAY
C0U4ERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

8.30
8. 13
8. 1 1
8.07
8.23
8.56
8.64
8.77
8.91
9.22
9.04
9.08

8.17
7.94
7.95
7.88
8.14
8.40
0.46
8.50
0.55
8.80
8.77
8.77

8.19
8.01
7.97
7.93
8.12
8.40
8.48
8.67
8.82
9.12
8.92
8.90

CORPORATE
AM BONDS
12.21
12. 16
12.20
11.97
11.85
11.95
12.01
12.21
12.47
12.55
12.58
12.68

CORPORATE
Baa BONDS
13.39
13.33
13.32
13.15
13. 13
13. 14
13. 13
13.21
13.51
13.63
13.70
13.79

MUNICIPAL
BONDS K»
9.87
9.60
9.51
9.21
9.37
9.52
9.64
9.71
9.71
9.75
9.76
N.A.

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.15 RELEASE.

* AVERAGES OF RATES AVAILABLE
am BOM) BUYER'S AVERAGE IM>EX 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

treasury'secur

e 20

a 17

JAN

FEB

2 10 90 15 27 II

APR

25

8 22

ITIES

8 20

9 17 31

MAY

14 28 12 28

SEP

9 29

OCT

7 21

4

DEC

JAN

18

1

15

1

15 29

FEB

1084
LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MARCH 22, 1985.

1985
JAN.

FEB.

MAR.

4
1 1
18
23
1
8
22
1
8
15
22 X
29

FEDERAL
FUNDS WK

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL 998*

1-YEAR
TREASURY
BILL

8.75
8.27
8.23
8. 19
8.45
8.59
8.44
8.57
8.40
8763
8.52
B. 75

7.83
7.75
7.73
7.65
7.92
8. 17
8.21
8.31
8.47
8.69
8.55
8.53

8. 19
8.02
8.05
7.93
7.97
8.30
8.28
8.25
8.53
8.98
8.79
9.04

8.48
8.34
8.33
8.22
8.35
8.47
8.47
6.58
8.84
9.09
9.09
9.21

5-YEAR
TREASURY
SECURITIES
11.16
11.07
1 1 .01
10.70
10.76
10.99
11.00
11.17
11.47
11.51
11.54
11.64

&^M§5Sf?Dl!§SoSSFt.EM>IN8 ™DAYS EARLIER THAN »*«


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

PREPARED BY FEDERAL RESERVE BAMC OF ST. LOUIS

7

LONG-TERM
TREASURY
SECURITIES
11.66
11.28
11.23
11.40

11.95
12.02

8
COMMERCIAL BANK
SMALL TIME DEPOSITS^
LARGE TIME DEPOSITS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

lfifiS
FEB.

BILLIONS OF DOLLARS

BILLIONS
4

382.6
382.3

380.8

381.(1
381.2

SMALL TIME DEPOSITS

Mil
LATEST DATA PLOTTED WEEK ENDING: MARCH II, 1985
BILLIONS OF DOLLARS
275

BILLIONS OF DOLLARS

1985
=

FEB.

BILLIONS
4

270

260.6
263. <

265

264.4

266.2

LARGE TIME DEPOSITS

267.5

260
255
250
245
240
235
230
225

2 16 SO 13 27 12 26

FEB

0 23

MAR

7 21

4 18

2 16 SO IS 27 10 24

MAY

JUN

AUG

8 22

SEP

5 10

3 17 31

14

JAN

1 25 II

FEB

23

MAR

LATEST DATA PLOTTED WEEK ENDING: MARCH II, 1985
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
790 ------------,--------- ;-----

2 16 90 13 27 12 20

JAN

FEB

MAR

0

7 21

4 16

APR

MAY

JUN

2 16 30 13 27 10 24

JUL

AUG

SEP

8 22

OCT

BILLIONS OF DOLLARS
---------------------------- 790

9 16

NOV

3 17 31

DEC

14 26 11
JAN

1964
LATEST DATA PLOTTED WEEK ENDING: MARCH II.

FEB
1985

1985

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

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE . AVERAGE OF FOUR WEEKS ENDING:
3/12/84

6/11/84

8/13/84

9/10/64

14.3
12.7
12.5
1 1.5
10.2
9.0
7.3
7.0

9.8
10.1
9. 1
7.6
6.4
4.3
4.3

7.8
6.9
5.2
4. 1
1.7
2.0

8.0
5.4
4.0
1.2
1.6

10/8/84 11/12/84 12/10/84

1/14/85

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
8/13/84
0/10/84
10/ 8/84
11/12/84
12/10/84
1/14/85
2/11/85
3/11/85


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

2.9
2.0
-0.8
0.0

0.1
-3.2
-1.8

-4.4
-2.0

-3.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

10.0
1M
FEB.
8.0

------ MAR.

MILL

13

1095

27

1354

20

1681

TOTAL BORROWINGS

4.0

LATEST DATA PLOTTED WEEK ENDINGt MARCH 20, 1985
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

1M

MILLIONS

8
13

419
862

ADJUSTMENT + SEASONAL BORROWINGS

4 18

1

18 29 14 29 II

MAR

25

APR

9 29

9 20

4 19

JUN

JUL

I

18 29 12 26 10 24

7 21

8 19

NOV

DEC

2 19 90 18 27 19 27

LATEST DATA PLOTTED WEEK ENDINGt MARCH 20, 1965
1/ 94.582 FOR 5/16/84, 93.730 FOR 5/23/84, 92.989 FOR 5/30/84, 93.120 FOR 6/6/84


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MMDAS,

MMMFS AND SUPER NOWS

(BILLIONS OF DOLLARS, NOT SEASONALLY ADJUSTED)

MMDAs 1/
January

February

March

$279.6
281.5
283.1
285.8
288.1
289.5
290.7
292.5
293.5

14
21
28
4
11
18
25
4
11

MMMFs 2/

Super NOWs 3/

$238.3
240.4
240.2
238.0
238.4
237.2
236.8
238.5
238.0

$51.3
50.9
49.8
51.2
52.0
51.7
51.9
53.0
53.2

1/ Money market deposit accounts at commercial banks, effective 12/14/82
2/ Total money market mutual fund balances
3/ NOW accounts at all depository institutions, requiring a $1,000 minimum balance
and eligible to earn more than 5.25 percent, effective 1/5/85

BUSINESS LOANS u

( COMMERCIAL. AND INDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS

I THE FI

H. NOV.

“OCT
- SEP

2/

StASUNALLT ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
---------------------------- 260

i°«eRSP
teS2IN0 '
WEEKS ENDINGt
1085
1084
1084
1084
1084
1084
1084

0.5
4.6
6.2
6.8
6.8
6.1
11.0

*
'
-

JAN. 30
FEB. 6

248,286
251,552

—

253,541

4 18

I 18 28 14 28 II 25
MAR
APR

B 29

6 20
JUN

4 18
JUL

I 18 28 12 26 10 24

7 21
NOV

MAR.

6

5 10
DEC

HI 1 1
2 16 90 19 27 19 27
FEB
MAR

LATEST DATA PLOTTED WEEK ENDINGt MARCH 6, 1085
1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BAMCS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE 8ATK OF ST. LOUIS

11

224