Full text of U.S. Financial Data : May 17, 1984
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of St. Louis “ IXS. Financial Data May 17,1984 Spreads between the interest rates on various financial instruments of similar maturity are largely accounted for by risk differences. For example, during 1983, the average spread (in monthly data) between corporate Baa and Aaa bonds was about 150 basis points. In contrast, the spread between the rates on 90-day certificates of deposit and three-month Treasury bills was about 45 basis points. From time to time, these spreads vary due to changing risk assessments by lenders or shifting supplies of the various financial instruments. Recently, the rate spread between corporate Aaa bonds and long-term Treasury securities has shrunk considerably. Over the past 11 years, the monthly interest rate on corporate Aaa bonds has averaged about 70 basis points higher than the rate on long-term Treasury securities. From February through April, however, this spread fell to 26 basis points and, as of May 11, the rate on long-term Treasury securities was slightly higher than that of corporate Aaa bonds. Spreads this low have been observed on only two occasions in the past 11 years. From April 1978 through October 1979, the spread averaged 33 basis points, while during July and August 1973, it averaged 26 basis points. On the most recent of these two occasions, the spread was restored to its historic average as the yields of both instruments rose with corporate Aaa bond rates rising more rapidly. On the former occasion, the spread was restored when the yield on Treasury securities fell, while the corporate Aaa bond rate remained relatively constant. —G. J. Santoni RESERVE HANK of Digitized forviews FRASER expressed do not necessarily reflect official positions of the Federal Reserve System. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis f, 2 ADJUSTED MONETARY BASE AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BY THIS BANK BILLIONS OF DOLLARS APR. II BILLIONS OF DOLLARS 214 BILLIONS. 210.6 207.1 212 210 209.3 !06.9 206 206 204 202 200 196 196 194 192 190 188 2 16 SO IS 27 II 29 APR MAY 8 23 8 20 9 IT SI 14 28 12 26 S 29 7 21 DEC 4 18 JAN 19 28 14 MAR II 25 APR 0 29 LATEST DATA PLOTTED WEEK ENDING: MAY 16, 1984 THE ADJUSTED MONETARY BASE CONSISTS OF: <I J 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. RECENT DATA ARE PRELIMINARY ADJUSTED MONETARY BASE COMPOUNDED ANNUAL RATES OF CHANGE; AVERAGE OF FOUR WEEKS ENDING-. 5/18/83 8/17/83 10/19/83 11/16/83 12/14/83 1/18/84 2/15/84 3/14/84 13.9 10.4 10.8 8.7 9.7 8. 1 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/19/83 11/16/83 12/14/83 1/18/84 2/15/84 3/14/84 4/18/84 5/18/84 7.8 8.3 7.9 7.8 8.4 8.9 8.5 8.7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8.8 8.0 7.7 8.7 9.3 8.7 9.0 8.4 7.8 9.3 10. 1 9. 1 9.5 6.2 8.6 9.7 8.7 9.2 10. 1 11.1 9.4 9.9 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK (Ml ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 545 BLU-LQh& 540 536.4 535 532.2 539.4 530 525 520 515 510 505 500 495 490 4 18 MAR 2 16 SO IS 27 II 8 22 5 18 S 17 SI 14 28 NOV APR 12 26 DEC 8 25 8 20 5 18 FEB MAR 2 16 SO 14 28 LATEST DATA PLOTTED WEEK ENDING* MAY 7, 1984 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, AVERAGE OF FOUR WEEKS ENDING: 5/9/83 8/8/83 10/10/83 11/7/83 12/5/83 1/9/84 2/6/84 3/5/84 5.8 7.3 7. 1 6.7 5.5 7.3 7.0 6.6 5. 1 8.7 7.4 5.3 5.9 3.7 2.4 TO THE AVERAGE OF^FOUR WEEKS 10/10/83 11/ 7/83 12/ 5/83 1/ 9/84 2/ 6/84 3/ 5/84 4/ 9/84 5/ 7/84 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10.1 9.0 8.8 8.2 8.5 8.3 8.0 7.3 4.5 5.2 5.0 5.9 6.0 5.9 5.2 5.5 5. 1 6.4 6.5 6.2 5.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4 MONEY MULTIPLIERi/ CURRENCY COMPONENT OF MONEY STOCK*/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO 2.9 --------- 1--------- ------------1--------1984 RATIO 2.9 RATIO APR. 2.8 MA Y i Ml Ml LTIPLI 2.8 w 2.5 2.5 111 hi 1111 _u i llll llll 1 1 1 i i.i i in -LLL i.i 11 111 in mi _LLL LATEST DATA PLOTTED WEEK ENDING: MAY 7, 1984 BILLIONS OF DOLLARS 156 154 152 148 - COMPOUNDED ANNUAL R KTES —OF CHANGE. AVERAGE THE FOUR WEEKS ENDI MG ” MAY 7. 1984 FROM THE F6UR WEEKS ENDI MG. - 150 BILLIONS OF DOLLARS 156 MAR. FEB. “JAN. - DEC. NOV. _ MAY 5, 6, 9, 8, 7, , 9, 1984 1984 1984 1983 1983 1983 1983 154 _ 152 b 7A 7.' 8. 9. ( 9. 150 148 CURRE NCY - y 146 146 - - - - 144 144 142 1BM - APR . 140 - 1 . 138 !1ll -LLL .mi .i.i i MAR 18 APR in mi 111 2 16 30 13 27 11 23 8 22 S MAY JUN JUL AUO SEP 1983 9 16 23 30 MAY 7 mi 111 -LLL -LLLL xuJ11 n S 17 31 14 28 12 26 8 23 6 20 5 19 OCT NOV DEC JAN FEB MAR 1984 BILLIONS 2 50.7 51.2 — 51.8 52.3 “ 52.2 _ 52.5 111111 M i’ 2 16 30 14 28 APR MAY LATEST DATA PLOTTED WEEK ENDING. MAY 7. 1984 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 142 140 138 TOTAL CHECKABLE DEPOSITS!/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS iSM APR BILLIONS OF DOLLARS BILLIONS 377.6 380.2 379.0 381.9 4 MAR 18 2 18 30 13 27 APR JUN II 25 8 22 5 19 3 17 31 JUL 14 28 12 28 NOV 9 23 8 20 3 19 2 16 30 14 28 DEC 1983 1984 LATEST DATA PLOTTED WEEK ENDING-. MAY 7, 1984 1/ DEMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITORY INSTITUTIONS TOTAL CHECKABLE DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 5/9/83 8/8/83 10/10/83 M/7/83 12/5/83 4.6 6.0 6.6 6.4 4.4 5.7 6.6 6.3 4.0 /9/84 2/6/84 3/5/84 7.0 2.9 0.5 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/10/83 11/ 7/83 12/ 5/83 1/ 9/84 2/ 6/84 3/ 5/84 4/ 9/84 5/ 7/84 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 10.3 8.6 8.3 7.6 7.7 7.8 7.6 6.5 2.0 3.0 3.0 3.9 4.6 4.7 3.6 3.2 3.2 4.5 5.3 5.4 3.8 8.9 7.6 4.3 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 I YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT PERCENT 15.0 13.0 CORP< aaa e BANK RATE 11.0 MUNICIPAL BONDS 1 15 29 13 27 MAY 10 24 8 22 5 19 JUN 2 18 30 14 28 OCT II 25 9 23 NOV 6 20 3 JAN FEB 17 2 18 30 13 27 APR II 25 MAY LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MAY 18, 1984 1984 MAR. 2 9 16 23 30 APR. 6 13 20 27 MAY 4 11 18 X 25 90 DAY CD'S 9.69 9.84 9.99 10.31 10.34 10.40 10.33 10.42 10.46 10.60 11.17 11.37 30-DAY COMMERCIAL PAPER 9.42 9.54 9.73 10.06 10.04 10. 16 10. 1 1 10.23 10. 16 10.28 10.52 10.63 90-DAY BANKERS' ACCEPTANCES 9.56 9.68 9.84 10. 16 10.17 10.23 10.21 10.31 10.29 10.42 10.98 11.14 CORPORATE Aaa BONDS 12.30 12.46 12.58 12.65 12.71 12.74 12.71 12.79 12.95 13.00 13. 15 13.28 CORPORATE Baa BONDS 13.78 13.84 13.97 14. 10 14.15 14.21 14.22 14.37 14.41 14.46 14.61 14.72 MUNICIPAL BONDS xx 9.86 9.94 9.98 10.01 9.93 10.04 9.97 9.89 9.99 10. 19 N. A. * 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 H.O r— 5-Y TREASURY S PERCENT —1 14.0 1RITIES RATE 3-MONTH x TREASURY BILL I MAR IS 29 IS 27 10 24 APR MAY JUN 8 22 JUL 5 19 AUG 1983 2 16 SO 14 28 I I SEP OCT NOV 25 9 23 DEC 6 20 S 17 2 JAN FEB MAR |984 16 SO IS 27 APR II 25 MAY LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING, MAY 18, 1984 1984 FEDERAL FUNDS am 3-MONTH TREASURY BILL 6-MONTH TREASURY BILL XK« l-YEAR TREASURY BILL 5-YEAR TREASURY SECURITIES LONG-TERM TREASURY SECURITIES 9.62 9.74 9.79 10.04 9.97 10.41 10.13 10.37 9.98 10.70 10.46 10.52 9. 18 9.29 9.43 9.76 9.72 9.74 9.65 9.76 9.64 9.73 9.97 9.94 9.33 9.37 9.52 9.79 9.88 9.83 9.82 9.92 9.74 9.88 10.27 10.40 9.37 9.45 9.60 9.90 9.86 9.96 9.82 9.98 10.00 10. 18 10.46 10.58 1 1 .75 1 1 .85 11.98 12. 17 12.20 12.36 12.24 12.38 12.47 12.65 12.99 13.27 12.03 12. 17 12.28 12.42 12.40 12.53 12.45 12.62 12.69 12.85 13. 16 13.43 MAR. 2 9 16 23 30 APR. 6 13 20 27 MAY 4 1 1 18 X 25 * AVERAGES OF RATES AVAILABLE. ** ■j^YD»smtf,vra than date XXX NEW ISSUE RATE s ^mrswRcSBirAitfi.** computed by the feder*l reserve bw* * st- l°uis- http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 7 8 SMALL TIME DEPOSITS 1/ COMMERCIAL BANK SAVINGS DEPOSITS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 410 TTTT BILLIONS OF DOLLARS 410 Z-------1--------- ------------1--------BILLIONS =_ 1984 400 = APR. 2 354.6 9 354.6 390 _ 16 354.8 Z 23 356.3 30 356.8 380 =~MA Y 7 358. 1 TTTTj 370 T ffT TTTT =s'- TTTT 330 320 E - 310 z z 300 0 350 340 z 320 310 370 E ---- - S 330 380 360 z 350 340 390 z SMALL TIME JEPOSIT S = 360 400 z !llu 111 mi ■IXL 1 1..L 1 1 1 1 111 1111 IXL 111. mi. 1. IX 111 1111 II 1 300 i 0 LATEST DATA PLOTTED WEEK ENDING* MAY 7, 1984 BILLIONS OF DOLLARS 170 BILLIONS OF DOLLARS 1984 BILLIONS 165 128.8 129.0 128.5 128.3 160 128.5 155 150 145 SAVINGS DEPOSITS 140 135 130 125 I I I I 4 18 MAR 2 16 SO IS 27 II APR JUN 25 8 22 5 19 JUL S 17 SI 2 16 SO M 28 14 NOV DEC FEB MAR LATEST DATA PLOTTED WEEK ENDING. MAY 7, 1984 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 0 TT 9 TOTAL TIME DEPOSITS!/ ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS 780 r-------------------------- BILLIONS OF DOLLARS ----- 1------------1------- =1 780 19M APR. MILLIONS 717.3 717.8 719. 1 720.8 723.8 726.3 I I I I r 21 4 MAR APR 18 2 16 SO 15 27 MAY JUN II JUL 25 6 22 AUG 1983 5 16 S 17 SI SEP OCT 14 28 12 26 NOV DEC 9 23 JAN 5 16 FEB 2 16 SO 14 28 MAR 1984 LATEST DATA PLOTTED WEEK ENDlNGt MAY 7, 1984 1/ SAVINGS DEPOSITS PLUS SMALL TIME DEPOSITS PLUS LARGE TIME DEPOSITS TOTAL TIME DEPOSITS COMPOUNDED ANNUAL RATES OF CHANGE , AVERAGE OF FOUR WEEKS ENDING: 5/9/83 8/8/83 10/10/83 11/7/83 12/5/83 1/9/84 2/6/84 3/5/84 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/10/83 11/ 7/83 12/ 5/83 1/ 9/84 2/ 6/84 3/ 5/84 4/ 9/84 5/ 7/84 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4.0 5.0 5.7 5.5 4.2 3.9 4.3 4.8 8.7 9. 1 7.9 5.6 5.0 5.4 6.0 10.5 7.9 4.5 3.8 4.6 5.4 6.7 2.6 2.2 3.5 4.6 -0.6 -0.2 2. 1 3.7 -2.7 1.4 3.6 4.8 6.7 9.4 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 10 LARGE TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED III m— p 23 30 7 p TTTT HU MAY ogNoaroo 1 2 9 16 I4 S N8 SN M2 SN 1984 APR. 239.2 --------- r TTTT TTTT TTTT TTTT TTTT / 2^ \ J IL L r — 1111 TTTT : = 225 1 1 1 1 1 1111 BILLIONS OF DOLLARS 260 1 BILLIONS OF DOLLARS 260 ^ "V NX 235 230 225 220 s| 1 1 7 21 MAR 1 1 1 4 1* APR 111 1 1 1 1 1 1 1 2 is a0 19 77 11 25 8 22 MAY JUN JUL AUG 1983 1 1 1 1 1 1 1 5 19 SEP 1 1 1 l 1 1 1 1 1 1 1 1 1 1 9 17 91 14 28 12 26 9 29 OCT NOV DEC JAN 1 1 1 6 20 FEB 1 1 1 5 19 MAR i 1 1 1 1 1 1 2 16 90 14 2 APR MAY 1 LATEST DATA PLOTTED WEEK ENDINOt MAY 7, 1984 TIME DEPOSITS ISSUED IN DENOMINATIONS OF *100,000 OR MORE. MMDAs, MMMFs and SUPER NOWs (billions of dollars, not seasonally adjusted) MMDAs 1/ March April May 26 2 9 16 23 30 7 $393.4 396.0 398.8 398.9 395.7 393.2 394.0 MMMFs 2/ $187.2 187.7 188.1 189.0 187.6 186.7 185.3 SUPER NOWs 3/ $41.5 42.1 43.6 43.9 43.4 41.9 42.6 1/ Money market deposit accounts at all depository institutions, effective 12/14/82. 7/ Total money market mutual fund balances. J/ 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 BORROWINGS FROM FEDERAL RESERVE BANKS AVERAGES OF DAILY FIGURES BILLIONS OF DOLLARS = 1964 E"APR- M = ~ BILLIONS OF DOLLARS MILLIONS 1* 25 2 0 IB 1513 751 1713 1020 1008 4813 2 16 30 IS 27 II 25 APR 8 22 8 20 3 17 31 MAY 14 28 12 SEP 0 23 OCT 7 21 4 DEC JAN 18 I 13 20 14 28 II MAR 29 8 23 APR LATEST DATA PLOTTED WEEK ENDING: MAY 16. 1984 BUSINESS LOANS u (COMMERCIAL INDUSTRIAL) BILLIONS OF DOLLARS - OCT. “SEP. - AUG. ~ JUL. - JUN. 26. 1983 28. 1983 31, 1983 27. 1983 29. 1983 “ DEC . 29. 982 5.5 3.9 0.8 1.4 1.8 I gS G ® 0 _ 1.2 CC 111 _ ! 216 232 IIM 228 10 Vi 2 _ in 198. 9 17 NOV 111 111 in mi III! 18 20 13 27 10 24 1 18 20 12 2B 0 23JXLL 9 23 -I.LL 8 20 -I.LL. 4 18 -Ll.i-L DEC JAN FEB MAR APR MAY JUN 1982 JUL AUG NOV. 23 30 DEC. 7 14 21 28 i n i in .111.. 7 21 2 18 SEP NOV 1983 1I1LLIQts 215.480 215,941 216.535 216.412 216,412 217,937 i i i i i i ii _ _ _ _ i: 30 14 2 I II 28 DEC JAN 1984 LATEST DATA PLOTTED WEEK ENDING: DECEMBER 28. 1983 1/ BUSINESS LOANS INCLUDE BAMERS' ACCEPTANCES AND COliCRCIAL PAPER. 2/ BANKS WITH DOMESTIC ASSETS OF 0750 MILLION OR MORE http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 236 1 1 _ COMPOUNDED ANNUAL RA TES _ OF CHANGE, AVERAGE 01 __THE FOUR *EEKS END IN G _ DECEMBER 28. 1983 FR OM _ THE FOUR WEEKSEND ING: rrrr 236 1 1 _ i— BILLIONS OF DOLLARS AND WEEKLY SEASONALLY REPORTINGADJUSTED LARGE BY COMMERCIAL BANKS 2/ THIS BANK PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS II
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