Full text of U.S. Financial Data : March 31, 1994

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5EF

MAY 0

6

1994

5* re
Fedcr

11 IK

KKDKRAI
A KI SI KM
«r st. I JIM IS

77/£ WEEK'S HIGHLIGHTS:
\/ The prime rate, the rate charged by commercial banks on short­
term loans to large businesses with the highest credit ratings,
increased from 6 percent to 6.25 percent on March 24, 1994.
This marked the first change in the prime rate since July 2, 1992.
t/ Corporate Aaa bonds yielded 7.61 percent for the week ending
April 1, up from 6.67 percent in October 1993.

✓

The trade-weighted exchange index of the U.S. dollar (TWEX)
averaged 93.7 percent of its 1973 value during the week of
March 30, up slightly from 93.3 percent last October.

✓

The Conference Board’s index of consumer confidence increased
to 86.7 percent (1985=100) in March from a revised 79.9 percent
in February. The March reading was the highest since July 1990.

✓

Sales of new one-family homes rose to a seasonally adjusted annual
rate of649,000 in February, after dropping 22.5 percent in
January. Compared with a year earlier, sales of new one-family
homes were up 8.4 percent.

Views expressed do not necessarily reflect official positions of the Federal Reserve System.
U.S. 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) $21
Two years (100 issues) $36
To subscribe, please send your check or money order made payable to the Federal Reserve Bank
of St. Louis to: Research and Public Information, Federal Reserve Bank of St. Louis, Post Office
Box 66953, St. Louis, 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.
Information in this publication is also included in the Federal Reserve Economic Data (FRED) elec­
tronic bulletin board. You can access FRED with a personal computer and a modem at 314-621-1824.

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

1

2
Adjusted Monetary Base
Averages ot Daily Figures
Seasonally Adjusted

Billions of Dollars

1994

Billions of Dollars

Billions

Jan 19
-Feb 2
16
Mar 2

428.2
431.4
433.9
435.9

30

436.8

3 17 3 17 31 U 28 12 28 8 23 7 21 4 18 1 15 28 13 27 10 24 8 22 5 IS 2 18 2 If 31 13 27
Feb Mar

Apr

May

Jun

Jul
Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
Apr
1993
1994
Latest data plotted reserve maintenance period ending: March 30, 1994
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
i o xne average ot
two maintenance
periods ending:
9/1/93
9/29/93
10/27/93
11/24/93
1/5/94
2/2/94
3/2/94
3/30/94

Compounded annual rates of change, average of two maintenance periods ending:
3/31/93 6/23/93 9/1/93 9/29/93 10/27/93 11/24/93 1/5/94
2/2/94

11.7
11.5
11.3
10.3
9.6
10.6
11.1
10.4


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Federal Reserve Bank of St. Louis

10.8
10.5
9.2
8.4
10.0
10.7
9.9

10.2
7.B
7.0
9.6
10.6
9.5

6.4
6.0
9.4
10.6
9.4

4.5
9.2
10.8
9.3

11.8
13.1
10.7

19.2
13.4

9.4

Prepared by Federal Reserve Bank of St. Louis

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

1994
- Feb 14
21
28
Mar 7
14

Averages ot uany figures
Seasonally Adjusted

Billions of Dollars

Billions
1139.1
1139.2
1140.7
1140.4
1141.6

M1 (left

-TCD (right scale)
1154

TCD
Bjiijons

Feb 14
21
28
Mar 7
14
21

1 15

1 15 2J 12 26 10 24 7 21 5 1! 2 16 30 13 27 11 25

Feb Mar

Apr

May

Jun

Jul
Aug
1993
Latest data plotted week ending: March 21. 1994

Sep

802.7
802.0
802.1 —
801.3
802.0
802.9

22 6 20 3 17 31 14 21 14 21 11 25

Oct

Feb Mar
1994

Apr

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 (Mi)
Compounded annual rates of change, average of four weeks ending:
To the average
3/22/93 6/21/93 B/23/93 9/20/93 10/1B/93 11/22/93 12/20/93 1/24/94
of four weeks
ending:
B/23/93
9/20/93
10/18/93
11/22/93
12/20/93
1/24/94
2/21/94
3/21 /94

13.0
12.7
12.1
12.0
11.4
10.8
10.3
9.9


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Federal Reserve Bank of St. Louis

10.5
10.1
10.3
9.8
9.1
8.7
8.3

9.7
10.2
9.4
8.5
8.1
7.7

10.0
9.0
8.1
7.7
7.2

9.2
7.9
7.4
6.9

6.1
6.1
5.7

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Billions of Dollars

Seasonally Adjusted

Billions of Dollars

110
1994

Billions

Jan

5

102.2

Feb

2

104.6

Mar 2

106.0

100

102

08

04

00

80

1 17 1 17 31 14 21 12 2f ! 23 I 21 4 11 I 15 !! 1] 27 11 24 I 22 5 19 2 If 2 If 90 11 27
Feb

Mar

Apr

May

Jun

Jul
1993

Aug

Sep

Oct

Nov

Dec

Jan

Feb Mar
1994

Apr

Latest data platted two weeks ending: March 16, 1994
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
_ ..
, Compounded annual rates of change, average of two maintenance periods ending:
To the average of
6/9/93 g/18/93 9/15/93 10/13/93 11/10/93 12/22/93 1/19/94
two maintenance
periods ending:
8/18/93
9/15/93
10/13/93
11/10/93
12/22/93
1/19/94
2/16/94
3/16/94

10.1
10.2
10.5
9.0
6.4
8.7
10.2
8.9


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

6.9
8.1
6.3
3.2
6.6
8.9
7.4

11.6
7.1
2.0
7.2
10.2
8.1

5.3
-0.4
6.4
10.1
7.7

-5.0
4.8
9.7
6.9

7.4
13.0
8.8

31.2
17.9

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier1/
Averages of Daily Figures
Seasonally Adjusted

Ratio

Compounded annual
rates of change,
average of the four
weeks ending
March 14, 1994 from
the four weeks ending:
Mar 15, 1993 -0.4
Jun 21, 1993 -1.5
Sep 27, 1993 -2.8
Oct 25, 1993 -2.4
Nov 22. 1993 -5.3
Dec 20, 1993 -7.6
Jan 17. 1994 -B.9

1 15

Ratio
Jan

t 15 2! I! 2f 11 21 7 21 S 19 2 IS JO 13 27 11 !S

Feb

Mar

Apr

May

Jun

Jul
Aug
Sep
1993
Latest data plotted two weeks ending: March 14, 1994

Oct

S 2! 6 20
Nov

Dec

3

2.666

2.643
2.634
2.622
2.615
2.624

17 31 11 21 11 21 11 2S
Feb Mar
1994

Apr

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

340

330

320

■

I
I
Compounded annu al
rates of change,
average of the fou
weeks ending
March 21, 1994 frc
the four weeks end ing:
Mar 22. 1993 11 .0
Jun 21, 1993 11 . 1
Sep 20, 1993 11 . 1
Oct 18. 1993 11 .2
Nov 22. 1993 12 .4

Billions of Dollars

340

330

-

320

Jar 24, 1 994 15 .3

310

310

300

200

1 15

1

15 29 12 2$ 10 24 7 21 5 19

Feb Mar

Apr

May

Jun

Jul
1993

2 16 30 13 27 11 25
Aug

Sep

Oct

1994

BillioUS

Feb 1 4
21
28
Mar 7
14
21

328 5
329 3
330.6
331.2
331.7
332.3

I

- 300

I

■ i ■ ’ ' l 1 l' 1 '

8 22 6 20 3 17 31 14 20 14 20 11 25
Nov

Dec

Jan

Feb Mar
1994

Apr

Latest data plotted week ending: March 21, 1994
1/ Ratio of M1 to adjusted monetary base
2/ Current data appear in the Federal Reserve Board's H.6 release.


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

Prepared by Federal Reserve Bank of St. Louis

5

290

6

Yields on Selected Securities

Percent

Percent

Averages of Daily Figures

Corporate
Aaa Bond*

Prime Bank

Municipal Bonds

5 IS 5 IS 2 If 30 14 21 11 25 0 23
Feb

Mar

Apr

May

17 1 15 2! 12 25 10 24 7 21
Sep

Jun

Oct

Nov

Dec

Jan

1993
Latest data plotted are averages of rates available for the week ending: April 1, 1994

1994
Jan

7
14
21
28
Feb 4
11
18
25
Mar 4
11
18
25
Apr 1 *

IS 4 IS
Feb Mar
1994

30—Day
Commercial
Paper

90-Day
CDs

90—Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

3.21
3.12
3.13
3.11
3.14
3.41
3.46
3.47
3.57
3.61
3.61
3.67
3.68

3.22
3.13
3.12
3.12
3.20
3.43
3.47
3.57
3.71
3.77
3.75
3.81
3.80

3.16
3.09
3.07
3.07
3.19
3.40
3.43
3.53
3.67
3.75
3.72
3.75
3.73

7.01
6.87
6.92
6.91
6.93
7.03
7.06
7.23
7.36
7.44
7.46
7.49
7.61

7.75
7.61
7.64
7.62
7.61
7.72
7.76
7.92
8.01
8.08
8.10
8.15
8.25

5.34
5.31
5.29
5.28
5.25
5.36
5.42
5.58
5.84
5.88
5.84
5.92
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


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

Selected Interest Rates

Percent

Percent

Averages of Doily Figures

7.0

7.0

J

t.O

\

•S,

—

'n

.j

X

✓

✓

i
i
i

s

_ ✓ ■ •s'-\

V

t

/

N

\

■x----------

___ /

5.0

b

4

i

>

N

\

____ 1___

5--Year
freasur Secur ties

-

4.0
Federal
F jnds Rafce

5.0

uj
MM - "V

Vi v

<V

V-

S;.rt
(•count Rate

-

A.

^7

3 -Month
Tre asury B V

5 19
Feb

5 1) 2 IS 30 14 28

11 25 9 23 6 20 3 17 1 15 29 12 28 10 24 7 21 4 18 4 II 1 15 29

Mar

Jun

Jul
Aug
Sep
Oct
Nov
Dec
Jan Feb
Mar
1993
1994
Latest data plotted are averages of rates available for the week ending: April 1, 1994

1994
Jan

7
14
21
28
Feb 4
11
18
25
Mar 4
11
18
25
Apr 1 ♦

Apr

May

Federal
Funds **
3.00
2.98
3.13
2.97
3.17
3.20
3.25
3.25
3.28
3.25
3.19
3.31
3.49

Apr

3—Month
Treasury
Bill

1—Year
Treasury
Bill

5—Year
Treasury
Securities

10-Year
Treasury
Securities

Long-Term
Treasury
Securities

3.05
2.97
2.96
2.93
3.08
3.25
3.27
3.35
3.47
3.52
3.52
3.49
3.50

3.46
3.38
3.36
3.35
3.49
3.69
3.70
3.82
3.95
4.09
4.11
4.15
4.20

5.21
5.03
5.06
5.05
5.14
5.36
5.40
5.60
5.74
5.85
5.91
6.00
6.18

5.85
5.69
5.74
5.74
5.80
5.94
5.95
6.15
6.29
6.40
6.45
6.52
6.71

6.30
6.15
6.17
6.16
6.18
6.34
6.39
6.59
6.72
6.80
6.83
6.90
7.05

Current data appear in the Federal Reserve Board's H.15 release excluding long-term Treasury securities
which are computed by this bank. Treasury bill yields are on a discount basis.
* Averages of rates available
*« Seven—day averages for week ending two days earlier than date shown
*** Auction average (discount)
Prepared by Federal Reserve Bank of St. Louis


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

7

2.0

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

Billions of Dollars

1994

Billions of Dollars

M2
Billions

Feb 14
21
28
Mar 7
14
21

3570.7
3561.9
3567.6.
3576.5
3583.6
3585.9

M2 (left scale)

Non-M1 M2 (right scale)
Non-M1 M2
1994 Billions
Feb 14 2431.6
21 2422.7
28 2426.9
Mar 7 2436.1
14 2442.0
21 2442.8

1 15 1 15 29 12 28 10 24 7 21 5 19 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 21 14 28 11 25
Feb

Mar

Apr

May

Jun

Jul
Aug
1993

Sep

Oct

Nov

Dec

Jan

Feb

Mar
1994

Apr

Latest data plotted week ending: March 21, 1994
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, overniaht Eurodollars issued to U.S. residents
by foreign branches of U.S. banks, savings (including money market deposit accounts), small time deposits
and general purpose and broker/dealer money market mutual funds. For more detail, see the H.6 release.

Money Stock (M2)
T ..
Compounded annual rates of change, average of four weeks ending:
lotne average 3/22/93 6/21/93 B/23/93 9/20/93 10/18/93 11/22/93 12/20/93 1/24/94
of four weeks
ending:
8/23/93
9/20/93
10/18/93
11/22/93
12/20/93
1/24/94
2/21/94
3/21/94

3.1
2.9
2.7
2.7
2.7
2.6
2.3
2.4


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

1.6
1.5
1.8
1.9
1.9
1.5
1.8

1.6
2.0
2.2
2.1
1.6
1.9

2.1
2.3
2.2
1.5
2.0

2.7
2.4
1.6
2.1

2.2
1.1
1.9

Prepared by Federal Reserve Bank of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars
1315 -------- 1----------1--------Savings
1994 Billions

1275

1

Billions of Dollars
915
1
1
Small Time
1994 Billions

Feb 14 1222.5
21 1220.4
28 1220.6

Feb 14
21
28

773.2
772.4
771.6

14 125 4.4
21 125 2.4

14
21

769. i
769.

- 875

Small lima ( ight scale)

1235

835
'>

1

1195

—

_

795

‘^^

i

~^^

gs Dap ostts(l< ft seal >)

■ —

1155

1 15 1 15 21 12 26 10 26 7 21 5 11 2 16 10 11 27 11 25 6 22 6 21 3 17 11 16 21 16 21 II IS
Feb Mar

Apr

May

Jun

Jul
Aug
Sep
1993
Note: Savings deposits ore at all depository institutions.

Oct

Nov

Dec

Jan

Feb

Mar
1994

755

Apr

Large Time Deposits and Money Market Funds1/
rui uopwsiiuiy u louiviui/iio
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Large Time
1994 Billions
Feb 1 4
21
28
Mar 7
14
21

Money Market
1994 Billions

336.7
334.8 .
334.2
333.4
333.0
334.2

Feb 14
21
28
Mar 7
14
21

344.3
342.9 __
344.5
346.8
349.8
350.4

Money Market

Large Time

1 15

1 15 2! 12 26 10 24 7 21 5 IS 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 14 28 11 25

Feb Mar

Apr

May

Jun

Jul
Aug
1993

Sep

Oct

Nov

Dec

Jan

Feb

Mar
1994

Apr

Latest data plotted week ending: March 21, 1994
1 / Large time deposits are those issued in denominations of $100,000 or more.
Money market funds are general purpose and broker/dealer.
prepared by Federal Reserve Bank 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

1.4

Billions of Dollars
---------1--------- 1— 1.4

1.2
1.0

1994

Billions

Feb 23
Mar 2
9
16

0.046
0.044
0.024
0.053

3

1.2
1.0

0.08 5

O.i

0.1

0.0

0.0

0.4

0.4

V*

0.2
0.0
Feb

Mar

Apr

May

Jun

Jul
1993

Aug

Sep

Oct

Nov

Dec

0.2

VA
Jan

0.0

Feb Mar
1994

Apr

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

Billions of Dollars

1.4

Billions of Dollars
----------1-------199 t

1.2

"Feb 3
Mar 2
9
6

1.0

j0

1.4

Billions
0.046 —
0.044
0.024
0.053
0.0 85

1.2
1.0

0.8
0.0

O.i

0.4

0.0

V

/

0.2
___ -r
J

■TV

y

17 3 17 31 H !I 1! It 9 23
Feb Mar
Apr
May
Jun

7 21 4 II
Jul
Aug
1993

t

IS !! 13 !7
Sep
Oct

0.4

k
10 24 I 22
Nov Dec

0 U
Jan

0.2

A
2

If
Feb

2

If 31 13 27
Mar
Apr
1994

Latest data plotted week ending: March 30, 1994


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

Prepared by Federal Reserve Bank of St. Louis

0.0

Commercial Paper of Norrfinancial Companies

Billions of Dollani

Billions of Dollars

Not Seasonally Adjusted

1 994

Billions

Feb 1 6
23
Mar 2
9
16
23

1 55.276
151.728
153.349
150.861
155.728
150.128.

3 17 3 17 31 H 21 12 21 § 23 7 21 1 II 1 IS 29 13 27 II 21 I 22 S 19 2 II 2 11 31 13 27
Feb

Mar

Apr

May

Jun

Jul
Aug
1993

Sep

Oct

Nov

Dec

Jan

Feb

Mar
1994

Apr

Latest data plotted week ending: March 23, 1994

Commercial and Industrial Loans17
Billions of Dollars

Weekly Reporting Large Commercial Banks
Seasonally Adjusted

—r—i---------1---------Compounded annual
rates of change,
average of the four

315
305
205

Billions of Dollars
1

March 16, 1994 from
the four weeks ending:
Mar 17, 1993 0.1
Jun 16. 1993 0.4
Sep 15. 1993 1.6
Oct 13, 1993 2.1
Nov 17, 1993
1.9
Dec 15, 1993 ♦ .3
.1

1

1994

Billions

.Feb 9
16
23
Mar 2
9
16

280.100
280.946
279.715
281.175
280.832
283.539

m
315
305
295

285

285

275

275

285

1 17 i 17 31 14 21 12 21 ! 23
Feb Mar Apr May
Jun

7 21 4 11 1 IS 21 13 27 II 24 I 22 S II 2 II 2 li 31 13 27
Jul
Aug Sep Oct
Nov Dec Jan
Feb Mar
Apr
1993

1994

Latest data plotted week ending: March 16, 1994
1 / Commercial and industrial loans include bankers acceptances and commercial paper.
v
*
2/ Banks with domestic assets greater than $1.4 billion


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Federal Reserve Bank of St. Louis

11

a

^,

Prepared by Federal Reserve Bank of St. Louis
_ .
,„

285

Dollar’s Trade-Weighted Exchange Index
1973=100

1973=100

Averages ot Daily Figures

1994 1973=100
Feb 23
Mar 2

3 17 3 17 31 14 21 12 2$ 1 23 7 21 4 II 1 15 21 13 27 10 24 1 22 5 19 2 IS 2 IS 30 13 27
Feb

Mar

Apr

May

Jun

Jul
1993

Aug

Sep

Oct

Nov

Dec

Jan

Feb Mar
1994

Apr

Latest data plotted week ending: March 30, 1994
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


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

pf

w
SB
03

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