Full text of U.S. Financial Data : March 7, 1991

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of St. Louis
^fciUdS.

Financial

Data

March 7, 1991

THE WEEK’S HIGHLIGHTS:
Sales of new single-family houses fell 12.3 percent in January to a
seasonally adjusted annual rate of408,000 units, 34.9percent below
the rate of627,000 units a year earlier.
Construction spending in January declined a seasonally adjusted 2.6
percent, after falling 2 percent in December. The January spending
level was 11.1 percent below the year-earlier pace.
%/ Orders for durable goods dropped 1.8 percent in January to a
seasonally adjusted$117.8 billion, after rising3.1 percent in Decem­
ber to $119.9 billion. Durable goods orders have fallen in four of the
last six months.
The composite index of leading indicators declined 0.4 percent in
January, afterfalling a revised 0.1 percent in December. The January
decline marks the sixth consecutive monthly decline.

THE
FEDERAL
A
RESERVE
>£liA>kof

nr ST. IjOI LS


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 ADJUSTED BY THIS BANK

BILLIONS OP DOLLARS

I

12ai

“DEC.
330

26

BILLIONS OF DOLLARS
338

BILLIONS

334

323.4

— FEB

330

326

322

318

314

310

10 24

7 21
FEB

7 21
MAR

4 18
APR

2 18 30 19 27 II 29
JUN
JUL

8 22

9 10

3 17 31 14 28 12 28
NOV
DEC

0 23

6 20
FEB

8 20
MAR

LATEST PLOTTED RESERVE MAINTENANCE PERIOD END I NO t MARCH 6. 1091

BANK.

IS FEDERAL I
A DETAILED DESCRIPTION OF THE ADJUSTED MO

OTIl

IONS AT FEDERAL
'AULTS OF ALL
. MAJOR
............_ COMPUTED BY THI
AVAILABLE FROM THIS BANK.

RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDINGt
3/7/90

5/30/90

8/8/00

0/5/00

16.1
11.8
10.0
12.1
13.6
12.9

8.6
7.7
10.6
12.7
12.1

I0/3/00 10/31/00 12/12/00

1/0/01

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDINGt
8/ 8/00
0/ 5/00
10/ 3/00
10/31/00
12/12/00
1/ 9/01
2/ 6/91
3/ 6/01

7.4
9.0
9.6
8.9
8.5
9.7
10.7
10.5


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Federal Reserve Bank of St. Louis

10.5
11 .1
9.8
9.0
10.6
11.8
11.5

5.4
9.8
12.5
11.8

12.3
15.1
13.6

22.1
17.4

15.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

r

19&L

850

-

JAN.

lllllllll

FEB.

BILLIONS

21
28
4

826.0
830.2
833.3

18
25

838.' 9
836. 2

IIIIIIIII

840

BILLIONS OF DOLLARS

rill

IIIIIIIII

850

___ !

T T T V I 1111

f'

E

y

V

iiiiiiiii

m

iiiiiiiii

iiiiiiiii

r

m

v

rm

T-------

J.

is

iiiiiii

/

1 1 1 1

111

111

1111

111

111

1111 .in -U 1

JAN

FEB

MAR

APR

MAY

18
JUN

2 10 30 13 27 10 24 8 22
JUL
AUG
SEP
OCT

XI 1 1

111

III! j.i, i

5 10
NOV

3 IT 31 H 28 II 25 II 25
DEC
JAN
FEB
MAR
1991

1990

ILL

LATEST DATA PLOTTED WEEK ENDINGt FEBRUARY 25, 1991
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
DEPOSITS^And"TRAVELERS^*CHECKS? BY THE N°NBA“' PUBL'C- DEHA"> DEP0S,TS’ 0THER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS END 1NGt
2/26/90

5/28/90

7/23/90

8/27/90

3.3
3.9
4.5
4.0
3.8
3.6
3.4
4.4

4.4
5.4
4.5
4.1
3.8
3.4
4.8

7.3
5.2
4.4
3.9
3.5
5.2

4.6
3.8
3.3
2.9
5.0

9/24/90 10/22/90 11/26/90 12/24/90

TO THE AVERAGE
OF FOUR WEEKS
ENDING*.
7/23/90
8/27/90
9/24/90
10/22/90
11/26/90
12/24/90
1/28/91
2/25/91


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

1.7
1.7
1.7
4.4

2. 1
1.9
5.2

1.6
6.3

8.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIER-!/
CURRENCY COMPONENT OF MONEY STOCK 2/
RATIO
3.0 -------------1---------- 1---------- 1-----------1991
2.9

RATIO
3.0

RATIO

DEC.

10

2.500

JAN.

7
21
4
18

2.52
2.50
2.501
2.51

FEB.

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

2.9

Ml MUL TIPLJ £R

2.5

s 1111
JAN

LLL

111

-LUX

111

FEB

MAR

APR

MAY

XLL

1111

JUN
JUL
1990

1 1 1

111

XI..IX

AUG

SEP

OCT

111 . Mil
NOV

111

DEC

111
FEB
1991

MAR

LATEST DATA PLOTTED TWO WEEKS ENDING* FEBRUARY 18, 1991
BILLIONS OF DOLLARS
262

BILLIONS OF DOLLARS

COMPOUNDED ANNI
OF CHANGE. AVEJ
THE FOUR *EEKS
FEBRUARY 25. 11
THE FOUR WE&S

DEC.
NOV.
SEP!
AUG.
MAY
FEB.

24,
26,
24 j
27,
28,
26

258
254

1990
1990
1990
1990
1990
1990

250
246
CURRENCY

242
238
234

ISSL

BILLIONS.

230

JAN. 21
254.7
256.1
1

IS 29 12 28 12 H
FEB
MAR

Mil

fi 23

I I I I I I I I 1 II 1 1 I I 1
7 21
MAY

4 18
JUN

2 16 30 18 27 10 24
AUG
SEP

8 22

3 10

3 17 31 14 28 II 23 11 23
FEB
MAR
JAN

LATEST DATA PLOTTED WEEK ENDING* FEBRUARY 25, 1991
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

226
222

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS

of dollars

BILLIONS

564.5
567.5

570.3
573.8

575

575.9
571 .7

—

I

15 20

12 26

FEB

12

9 23

7 2|

4 18

2

18 30 13 27

MAR

AUG

10 24

8 22

5 19

SEP

3

17 31

14 26 II

JAN

25 II

FEB

25

MAR

1990
LATEST DATA PLOTTED WEEK ENDINGt FEBRUARY 25,

1991

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

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
2/26/90

5/28/90

7/23/90

8/27/90

0.7
1.1
1.6
0.9
0.8
0.8
-0. 1
1.1

1.6
2.3
1 .0
0.9
0.8
-0.4
1 .2

3.8
1.2
1.0
0.9
-0.7
1.4

0.1
0.2
0.3
-1.5

AVERAGE OF FOUR WEEKS ENDING;

9/24/90 10/22/90 11/26/90 12/24/90

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
7/23/90
8/27/90
9/24/90
10/22/90
11/26/90
12/24/90
1/28/91
2/25/91


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

1.1

-1.8
-1 . 1
-2.9
0.4

0.4
-2.4
1.5

-3.9
2.0

2.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

PERCENT
—

BANK
RATE

'AL v

19

JAN

J l«

FEB

2 18 30 13 27

MAR

APR

II

MAY

23

8 22

B 20

JUN
JUL
1990

3 17 31

AUG

14 28 12 26

SEP

OCT

9 23

NOV

7 21

4

DEC

JAN

18

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDlNGt MARCH 8,

1991
JAN.

FEB.

MAR.

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

I

15

FEB
1991

1

15 29

MAR

1991.

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS’
ACCEPTANCES

CORPORATE
AAA BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS XX

7.35
7.30
7.33
6.94
6.84
6.45
6.44
6.54
6.71
6.72

7.57
7.22
7.27
6.83
6.90
6.44
6.47
6.51
6.71
6.77

7.08
7.05
7.13
6.76
6.67
6.28
6.30
6.38
6.52
6.48

9.02
9.05
9.08
9.05
9.00
8.87
8.77
8.81
8.85
8.92

10.38
10.51
10.51
10.44
10.34
10.13
10.00
10.04
10.09
10.14

7.09
7.15
7. 10
7.06
7.00
6.86
6.81
6.97
7.01
N. A.

NOTEt CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.I5 RELEASE.
X AVERAGES OF RATES AVAILABLE
XX 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

11.0

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES

PERCE!
10.0

TREASURY 'Hi

TIES

/ v( v
RATE

BILl

DISCOUNT RATE

5 19
JAN

2 16
FEB

2 16 30 13 27 II 23

APR

8 22

6 20

3 IT 31

MAY

14 28 12 26
SEP
OCT

9 23

7 21
DEC

4 18
JAN

1990

1 15
FEB
1991

I

13 29

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* MARCH 8, 1991.

1991
JAN.

FEB.

MAR.

4
u
18
25
1
8
15
22
1
8 *
15
22
29

FEDERAL
FUNDS X«

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL XXX

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

7, 17
6.40
6.77
6.88
7.46
6.32
6.29
6.26
6.31
6.47

6.47
6.31
6.07
6.12
6. 17
5.94
5.87
5.94
6.04
6.06

6.48
6.51
6.21
6.21
6.28
5.94
5.85
5.91
6.01
6.06

6.37
6.30
6.22
6.19
6.13
5.87
5.84
5.93
6.02
6.10

7.62
7.77
7.77
7.66
7.60
7.41
7.39
7.51
7.65
7.75

8.21
8.41
8.35
8.25
8.22
8.05
8.02
8. 10
8.23
8.35

NOTE*
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE EXCLUDING LONG-TERM TREASURY
SECURITIES WHICH ARE COMPUTED BY THIS BAhK. TREASURY BILL YIELDS ARE ON A DISCOUNT BASIS.
X AVERAGES OF RATES AVAILABLE
« SEVEN-DAY AVERAGES FOR WEEK ENDING TWO DAYS EARLIER THAN DATE SHOWN
XXX AUCTION AVERAGE (DISCOUNT)


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK ( M2 )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

iaaL
JAN.

21

BILLIONS OF DOLLARS
3375

BILLIONS.
3334.3

3339.5
3344.4
3353.0

3300

3300

3275

3250

3250

1

15 20 12 28 12 28

FEB

0 23

MAR

7 21

4

MAY

JUN

18

2 It M 15 27

AUG

10 2A

8 22

5 10

SEP

3 17 31

M 28 It

JAN

25 11

FEB
1991

25

MAR

LATEST DATA PLOTTED WEEK ENDING. FEBRUARY 25. 1991
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE
M2 IS THE SUM OF Ml. OVERNIGHT RPS ISSUED BY ALL COMMERCIAL BANKS, OVERNIGHT EURODOLLARS ISSUED
TO U.S. RESIDENTS BY FOREIGN BRANCHES OF U.S. BANKS, MONEY MARKET DEPOSIT ACCOUNTS. SAVINGS AND
SMALL TIME DEPOSITS. AND GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUNftS. FOR MORE
DETAIL, SEE THE H.6 RELEASE.

MONEY STOCK (M2 )
COMPOUNDED ANNUAL RATES OF CHANGE,
2/26/90

5/28/90

7/23/90

8/27/90

3.2
3.3
3.6
3.4
3.0
2.0
2.6
3.1

3.0
3.6
3.2
2.6
2.5
2.2
2.9

4.6
3.6
2.7
2.4
2.1
3.0

3.6
2.3
2. 1
1.8
2.9

AVERAGE OF FOUR WEEKS ENDING:

9/24/90 10/22/90 11/26/90

2/24/90

TO THE AVERAGE
OF FOUR WEEKS
ENDING*.
7/23/90
8/27/90
9/24/90
10/22/90
11/26/90
12/24/90
1/28/91
2/25/91


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

0.8
1 .0
0.9
2.3

0.8
0.8
2.6

1.0
3.4

4.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ALL DEPOSITORY INSTITUTIONS
TOTAL TIME DEPOSITS 1/
LARGE TIME DEPOSITS
BILLIONS OF DOLLARS
21B5
I------- 1------- 1------- 1---------

2165

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

—

~ COMPOUNDED ANNUAL RA1 ES
_ OF CHANGE, AVERAGE OF
__ THE FOUR WEEKS END INC
_ FEBRUARY 25. 1991 FRC M
_ THE FOUR WEEKS ENDING
2.7
1.3
0.7
-0.3
-0.6
-0.8

2165

1 1 1
1

2-4, 1990
26, 1990
22, 1990
24, 1990
27, 1990
28, 1990

_

|

I
DEC.
—NOV.
- OCT.
- SEP.
- AUG.
- MAY

BILLIONS OF DOLLARS
2185

------- 1------- 1------19i11 BILLIONS JAN. 21
2089.4
~
2092.3
—
FEB. 284
2090.8
11
2092.1
~
§i §88:?
=

|
1

TOTAL TIME >EPOSI TS

1 1 1

-

1

1111

|
1 1
1

1111

M il!

2085

Illll -LLL -LLL

.11 1 1

-LLL -LLL

-Ll.1.1

-LLL -LLL

1111

-LLL

-LI 11

.LLL lLLL _LLL

LATEST DATA PLOTTED WEEK ENDINGt FEBRUARY 25. 1901
BILLIONS OF DOLLARS
580 r----------------------- 1—

BILLIONS OF DOLLARS
------ 1---------- 1------- -i 580

1281
JAN.

BILLIONS

21

513.3
516.5
515.5
515.8
516.7
517.1

LARGE TIME DEPOSITS

I

IS 20 12 28 1? 20
FEB
MAR

9 23

7 21
MAY

4 IB
JUN

2 18 30 19 27 10 24
AUG
SEP

8 22

9 IB

9 17 31 14 28 II 25 II 25
JAN

FEB

MAR

LATEST DATA PLOTTED WEEK ENDINGt FEBRUARY 25, 1991
1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
4.5 ri---------- i---------- i-----1991

ILL IONS OF DOLLARS
------------------------- -i 4.5

MILLIONS

TOTAL BORROWINGS

I I I I
LATEST DATA PLOTTED WEEK ENDING* MARCH 6, 1991
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

1891
ADJUSTMENT +
BORROW11

3 17 31

14 28 14 26 II 25
FEB
MAR
APR

0

0 20

4

JUN

JUL

LATEST DATA PLOTTED WEEK ENDING; MARCH 6,


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Federal Reserve Bank of St. Louis

IS

I

MILLIONS.

kSONAL

15 20 12

10 24

7 21
NOV

10
DEC

2 16 50 13 27 13 27
FEB
MAR

1991

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
BILLIONS OF DOLLARS
165 r----------- ,---------- ,------

NOT SEASONALLY ADJUSTED

ILL IONS OF DOLLARS

-------- ---- =1

165

JAN. 23
FEB.

6
143,306

3 17 91 14 28 14 2® II 25 9 23
JAN
FEB
MAR
APR
MAY

8 20
JUN

4 18
JUL

IS 29 12 28 10 24
AUG
SEP
OCT

7 21
NOV

5 19
DEC

2 18 30 13 27 13 27
JAN
FEB

1990

1091

LATEST DATA PLOTTED WEEK ENDING, FEBRUARY 27. 1991

BUSINESS LOANS u

( COMMERCIAL

AND

INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
342 ------------ 1. . i---------- r

BILLIONS OF DOLLARS
342

~ COMPOUNDED ANNUAL RA TES
- OF CHANGE. AVERAGE 0F
- THE FOUR *EEKS END IN G
FEBRUARY 20. 1991 FR OM
“ THE FOUR WEfcKS END IN
_
“

DEC. 19, 1990
NOV. 21, 1990
OCT. 17, 1990

_ AUG. 22,
MAY 23.
“ FEB. 21.

990
990
990

m.

------------- 1---------- 1---------MILLIONS “

JAN. 16
23
30
FEB. 6
13
20

-8.8
-7.9
-6.0
-5.4
-3.6
-2.1

321,690
320,622
317,565
316,940
319,126
319,644

_
“
“
-

330

330

S'

\

vv

V

-

326
-

322

-

-

7mii

JAN

111

111

111

1111

FEB

MAR

APR

MAY

u i

111

1111

L-I.J-L

1111

AUG

SEP

OCT

JUN
JUL
1990

LATEST DATA PLOTTED WEEK ENDING, FEBRUARY 20,

111 -LLL
7 21 S 19
NOV
DEC

mi
111 J_LL
2 18 30 13 27 13 27
JAN
FEB
MAR
1991

1991

1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BAMS WITH DOMESTIC ASSETS GREATER THAN 91.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

DOLLAR'S TRADE-WEIGHTED EXCHANGE INDEX
AVERAGES OF DAILY FIGURES

1973-100
98

1973-100
98

-

1991
JAN.
30
FEB.
6
13
20
27
MAR.
S

f
-

V
N

1973-10A
82.3
81.5
80.9
82.3
83.5
84.8

_

1
1

\

-

1

V

-

J A k/

f

z

-

III’
iLU. 1 1 1

1 1 1

1 I..L 1 111

1U- 111

FEB

MAP

APR

JUN

JAN

MAY

JUL

llll

1 1 1

1 III

111

111 -Uli- 111

AUO

SEP

OCT

NOV

DEC

1990

JAN

FEB
1991

LATEST DATA PLOTTED WEEK ENDING, MARCH 6, 1991
NOTE,

CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR1S H.10 RELEASE.

DATA ARE WEIGHTED AVERAGES OF THE FOREIGN-CURRENCY PRICE OF THE U.S. DOLLAR. COMPUTED USING
10 INDUSTRIAL COUNTRY CURRENCIES.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

•J-i

sQ
1>
AS