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RESEARCH LIBRARY
Bar

Federal 1
of 1

APR 1

31990

F nancial Data
March 8, 1990

THE WEEK'S HIGHLIGHTS:
ts

The adjusted monetary base has grown at a 6.8 percent annual rate
during the past six months, compared with a 1.7 percent rate of
increase during the previous six months.

^

The yield on 90-day certificates of deposit averaged 8.28 percent for
the week ending March 9, up slightly from 8.13 percent in early
January, but down significantly from the 1989 peak of 10.26 percent
about a year ago.

is

Large time deposits (denominations of $100,000 or more) at all
depository institutions have declined steadily since last July.

is

U.S. sales of all (domestic and import) cars and light trucks totaled
1.054 million in February, down 4.7 percent from a year earlier.
For the first two months of 1990, total vehicles sold were up 1.3
percent from the same period in 1989.

THE
FEDERAL
A RESERVE
ML RANK of
Or ST. UH 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 ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
306 ---------- ,---------- 1--------

1990
DEC.
JAN.

27
10

FEB.

BILLIONS OF DOLLARS

BILLIONS.
296.5
298.5
298.5
301 .0

I!

25

JAN

8 22

FEB

8 22

MAR

5 10

APR

3 17 St

MAY

14 28 12 28

JUN
JUL
1989

0 23

AUG

6 20

4

SEP

OCT

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING* MARCH 7.

16

1

15 20 13 27 10 24

NOV

DEC

JAN

7 21

7 21

FEB
1990

MAR

1990

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 AM) IN THE VAULTS OF ALL
THE MAJOR
DEPOSITORY INSTITUTIONS) AM) AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES.
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*
3/8/89

5/31/89

8/9/89

1.4
1.7
2.6
2.8
2.6
3.6
4.4
4.2

2.9
4.2
4.1
3.6
4.9
5.8
5.4

6.0
5.3
4. 1
5.9
7.0
6.3

9/6/89

10/4/09

11/1/89 12/13/89

1/10/90

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING*
8/ 9/89
9/ 6/89
10/ 4/89
11/ 1/89
12/13/89
1/10/90
2/ 7/90
3/ 7/90

O'

6.4
4.4
6.5
7.7
6.8

2.7
5.8
7.5
6.4

6.5
8.5
6.9

13.8
9.6

7.4

;•*

i

_____ __ U_

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
;

VHU r;


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

-b;,.

MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
------------------------------- 815

BILLIONS
I

2

FEB.

794.6
792.6
798.5
798.9
800.4
804.9

15 50 13 27 13 27

10 24

8 22

3 10

3 17 31

14 28 11

AUG

25

0 23

SEP

I

NOV

15 29

DEC

12 26 12 26

FEB

MAR

LATEST DATA PLOTTED WEEK ENDING: FEBRUARY 26, 1990
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
depoIitsEandmtraveler1nchecksD

Bv

the

nonbam< fublic'

demand deposits,

other checkable

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
2/27/89

5/29/89

7/24/89

8/28/89

2.3
2.5
3.9
3.5
3.9
3.6
4.3

2.5
4.8
3.9
4.4
3.9
4.8

6.4
4.6
5.0
4.4
5.3

AVERAGE OF FOUR WEEKS ENDING:

9/25/89 10/23/89 11/27/89 12/25/89

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
7/24/89
8/28/89
9/25/89
10/23/89
11/27/89
12/25/89
1/29/90
2/26/90

-2.4
-1.6
-1.0
0.3
0.4
1.0
1 . 1
1.8


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

5.4
5.7
4.7
5.7

3.8
3.2
4.8

4.0
6.0

5.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

4

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

RATIO
3.0 ------------ 1---------- 1--------- 1—
1990

RATIO
3.0

RATIO

DEC.

II
25

2.683
2.681

FEB

22
5
19

2.63<
2.661
2.66

Ml MUL TIPLI :r

\/

s

111 -LLL .1.LL INI -LLL 1-11.U LU0 25
JAN

6 20

FEB

6 20
MAR

5 17
APR

1 15 20 12 20 10 24
MAY
JUN
JUL
1989

7 21
AUG

LATEST DATA PLOTTED TWO WEEKS ENDINGt FEBRUARY 19,

hi

1 1 1
j 111. -LLL -LLL 1 1 1 1
4 18 2 10 30 13 27 II 25 8 22 5 19
SEP OCT
NOV
DEC
JAN
FEB
1990

1990
ILL IONS OF DOLLARS
230

BILLIONS OF DOLLARS
230 -------------1---------- 1---------- 1---------- 1------------“
“
226
-

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR ifcEEKS ENDING
FEBRUARY 26. 1990 FROM
THF FOUR WFFKS ENDING-.

~
_

DEC.
NOV.
OCT.
SEP.
AUG.

25,
27,
23,
25,
28,

1989
1989
1989
1989
1989

13.1
11.1
8.<
7.J
7.:

_

FEB

271

1989

5!

III’
5 19
MAR

_Z

/

CURREIs :y

-

_

222

_

1990
JAh .

22

B

illio te.

"

224.8

FEB.

!llll in -LLL -LLL Hill -LI 1
2 18 SO 13 27 13 27 10 24 8 22
JAN
FEB
MAR
APR
MAY

1 1IX -LLL 1 1 1
5 19 3 17 31 14 28
JUN
JUL
AUG
SEP
1989

-LULL 1 1 1
OCT

20
NOV

5
225.8
12
225.8
19
226.3
26
227.8
111111111111111 r
18
DEC

15 29 12 28 12 28
JAN
FEB
MAR
1990

LATEST DATA PLOTTED WEEK ENDINGt FEBRUARY 26. 1990
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
585 ------------- 1---------- 1-----

BILLIONS OF DOLLARS
------------------------------- 585

562.2
559.2
565. 1
565.5
566.5
569.6

2 18 30 13 27 13 27

JAN

FEB

MAR

10 24

APR

8 22

MAY

5 IB

3 17 31

JUN
JUL
1989

LATEST DATA PLOTTED WEEK ENDING: FEBRUARY 26,

14 28 11

AUG

25

SEP

0 23

OCT

8 20

4

NOV

DEC

18

1

15 29 12 26 12 26

FEB
1990

1990

DEPOSITORVKmSTITUT?ONSS 'S ™E SUM °F DEMAND DEP0SITS AND 0THER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,
2/27/89

5/29/89

7/24/89

8/28/88

1.9
2. 1
4.0
3.5
3.8
2.8
3.6

1.8
5.1
4.0
4.4
3.0
3.9

7.6
5. 1
5.3
3.4
4.4

AVERAGE OF FOUR WEEKS ENDING!

8/25/89 10/25/89 11/27/89 12/25/89

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
7/24/89
8/28/89
9/25/89
10/23/89
11/27/89
12/25/89
1/29/90
2/26/90

-4.8
-3.7
-2.9
-1 . 1
-0.8
-0.2
-0.5
0.3


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

6.2
6.2
3.6
4.7

3.3
1.1
3.0

1.0
3.8

2.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

12.0

CORPORATE
Aaa BONDS

8.0

-L-l-l-L
6 20
JAN

3 17
FEB

3 17 31

M 28 12 20

9 23

7 21
JUL
1989

4 18
AUG

1

15 29 13 27 10 24
OCT
NOV

8 22

5 19
JAN

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MARCH 9.

1990
JAN.

FEB.

MAR.

5
12
19
26
2
9
16
23
2
9 X
16
23
30

2 18
FEB
1990

2 10 30

1990.

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS XX

8. 15
8.13
8. 17
8. 19
8.20
8.22
8.20
8.24
8.25
8.28

8.25
8. 16
8. 18
8.19
8.22
8.23
8. 19
8.22
8.23
8.28

7.96
7.92
7.99
8.00
8.01
8.02
8.01
8.05
8.06
8.09

8.89
8.92
8.98
9.05
9. 15
9.22
9.21
9.27
9.26
9.36

9.86
9.87
9.93
10.00
10. 10
10.13
10. 1 1
10. 19
10.20
10.26

7.03
7.03
7.14
7. 19
7.24
7.20
7. 16
7.27
7.25
N.A.

NOTE.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.15 RELEASE.
* AVERAGES OF RATES AVAILABLE
XX 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

PERCENT
11.0

9.0

5-YEAR
TREASURY SECURITIES

TREASl
DISCOUNT RATE

6 20
JAN

3 17
FEB

3 17 31

14 28 12 20
APR
MAY

0 23

7 21
JUL

4 18
AUG

1

15 20 13 27 10 24
OCT
NOV

8 22

5 10
JAN

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING; MARCH 9,

1990
JAN.

FEB.

MAR.

5
12
19
26
2
9
16
23
2
9 *
16
23
30

2 16
FEB

2 10 30

1990.

FEDERAL
FUNDS**

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL *XX

l-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.32
8.22
8.20
8.23
8.24
8.22
8.21
8.25
8.27
8.28

7.59
7.53
7.72
7.69
7.76
7.80
7.66
7.74
7.76
7.88

7.52
7.44
7.54
7.58
7.73
7.72
7.65
7.77
7.70
7.79

7.30
7.26
7.42
7.46
7.54
7.58
7.50
7.61
7.58
7.72

7.91
7.94
8. 17
8.27
8.39
8.44
8.36
8.53
8.44
8.57

8.14
8.21
8.39
8.51
8.61
8.63
8.58
8.75
8.67
8.76


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

^ ™ °*YS EARUER ™AN MTE ***

PREPARED BY FEDERAL RESERVE BAM< OF ST. LOUIS

7

8

MONEY STOCK ( M2 )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
3275

1990
3233.9
3238.I
3249.4
3252.4
3256.5
3264.8

_ JAN.

3225

3200

3200

3175

3150

3125

3125

3100

3075

2

16 30 13 27

FEB

13 27

MAR

10 24

8 22

5 19

3

17 31

APR

14 28 II

AUG

25

9 23

SEP

8 20

4

NOV

DEC

18

I

15 29 12 28 12 26

FEB
1990

1989

MAR

LATEST DATA PLOTTED WEEK ENDING: FEBRUARY 26, 1990
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. BAWS, MONEY MARKET DEPOSIT ACCOUNTS. SAVINGS AND
SMALL TIME DEPOSITS, AND GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUn6s.
FOR MORE
DETAIL, SEE THE H.6 RELEASE.

MONEY STOCK (M2)
COMPOUNDED ANNUAL RATES OF CHANGE,
2/27/89

5/29/89

7/24/89

8/28/89

3.7
4.5
4.8
5.0
5.3
5.6
5.4
5.8

8. 1
7.8
7.6
7.5
7.7
7. 1
7.5

7.4
7.2
7.2
7.5
6.8
7.2

6.7
7.0
7.4
6.6
7. 1

AVERAGE OF FOUR WEEKS ENDING:

9/25/89 10/23/89 M/27/89 12/25/89

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
7/24/89
8/28/89
9/25/89
10/23/89
11Z27/89
12/25/89
I/29/90
2/26/90


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

7. 1
7.6
6.5
7.2

7.9
6.4
7.3

6.0
7.3

6.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ALL DEPOSITORY INSTITUTIONS
TOTAL TIME DEPOSITS^
LARGE TIME DEPOSITS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
2160 ------------- 1---------- r—

2130

2100

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
FEBRUARY 26, 1990 FROM
THE FOUR WEEKS ENDING:
DEC.
NOV.
OCT.
SEP.
AUG.
MAY
FEB.

25,
27,
23,
25,
28,
29,
27,

1989
1989
1989
1989
1989
1989
1989

BILLIONS OF DOLLARS
------ ----------- ----------- 2,60

2130

TOTAL TIME DEPOSITS

-1.5
-0.4
0.1
0.1
0.0
1.5
3.8

2100

2070

2040

199Q
JAN.

2010

BILLIONS

_

22
2104.9
2103.7
2105.2
2105.0
2105.0

FEB.

2010

1111111111111111
LATEST DATA PLOTTED WEEK ENDING: FEBRUARY 26,

1990

BILLIONS OF -DOLLARS
590 ------------- ,--------- 1—

iaaa

B ILL IONS OF -DOLLARS
------ ---------------------- 590

billions

JAN.

22

— FEB.

5

LARGE TIME DEPOSITS

554.1
551.1
550.8
551.4
550.1
548.4

2 16 30 13 27 13 27 10 24
FEB
MAR
APR

8 22

5 10

3 17 31

14 28 11 25
AUG
SEP

0 23

S 20
NOV

4 18
DEC

1

15

12 26 12 26
FEB
MAR

LATEST DATA PLOTTED WEEK ENDING: FEBRUARY 26, 1990
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


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
BILLIONS OF DOLLARS
5.5

AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
----------------------------=3 5-5

rz------- 1---------- 1-------1990
JAN.
FEB.

MAR.

MILLIONS
31
851
7
880
14 1072
21
1888
28 1874
7 2059
TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDING* MARCH 7, 1990
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

IM

MILLIONS.

14
21

1<
1659

ADJUSTMENT + SEASONAL
BORROWINGS

I
JAN

15 28 12 26 10 24

FEB

7 21
JUN

5 18
JUL

LATEST DATA PLOTTED WEEK ENDING* MARCH 7,


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

2 16 30 15 27 11 25
SEP
OCT

8 22

6 20

3 17 31

14 28 14 28
FEB
MAR

1990

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
MS

BILLIONS OF DOLLARS
---------------------------- Zl 145

rz--------1---------- 1--------MILLIONS
JAN. 24
FEB.

4 18
JAN

7

I 15
FEB

154,171
152,923
137,250
155,780
136,516
156,185

15 29 12 26 10 24

7 21
JUN

5 19
JUL

2 16 90 19 27 II 25
SEP
OCT

6 22

6 20

5 17 51

14 28 14 28
FEB
MAR

LATEST DATA PLOTTED WEEK ENDING* FEBRUARY 28, 1990
* DASHED LINE REPRESENTS DATA USING AN OLD REPORTING PANEL AND IS NOT COMPARABLE TO CURRENT DATA.

BUSINESS LOANS^

( COMMERCIAL AND INDUSTRIAL )
WEEKLY REPORT ING LARGE COMMERCIAL BANKS 2/
StASONALLY ADJUSTED

BILLIONS OF DOLLARS
330 ---------- ,---------- ,--------

BILLIONS OF DOLLARS
------------------------------- 330

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
FEBRUARY 21
1990 FROM
THE FOUR WEEKS ENDING: “
DEC.
NOV.
OCT.
SEP.
AUG.
MAY
FEB.

20,
22,
18,
20,
23,
24,
22,

1989
1989
1969
1989
1989
1989
1989

-3.7
-5.2
-4.2
-3.8
-2.7
1.2
2.4

-

JAN. 17

321,015
319,315

FEB.

7
319,836

4 18
JAN

1 15
FEB

I 11 I
I 15 29 12 26 10 24

7 21
JUN

5 19
JUL

2 16 50 15 27 II 25
SEP
OCT

8 22

111.1.1.1. HI 1. I 1 I
6 20 3 17 31 14 28 14 28
FEB
MAR

LATEST DATA PLOTTED WEEK ENDING: FEBRUARY 21, 1990
1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

310

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

1973-100
1 18

iffira-IQg.
92.6
92.0
110

106

4 18

JAN

I

15

I

15 29 12 26 10 24

FEB

7 21

5 19

2 16 50 19 27 II 25

JUN
JUL
1989

SEP

0 22

OCT

6 20

5 17 51

14 28 14

FEB
1990

MAR

LATEST DATA PLOTTED WEEK ENDING: MARCH 7, 1990
NOTE:

CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR'S H.10 RELEASE.

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


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS