Full text of U.S. Financial Data : May 21, 1992

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

Feder;

Reserve Bank

2 8 1992
IIIUKM
KIM KM
IVWhnl
SLUM IS

THE WEEK'S HIGHLIGHTS:
✓ The yield on three-month Treasury bills averaged 3.57 percent for
the week ending May 22, down from 4.06 percent two months
earlier.
✓ Industrial production, led by a sharp rise in auto production,
increased at a 6.9percent annual rate in April, following a re­
vised gain at a 4.6 percent rate in March. April production was
2.6 percent above its year-ago level.
Privately owned housing starts decreased in April to an annual
rate of1,115,000 units, 17percent below the revised March rate
of1,344,000 units. Housing starts have totaled 371,800 units thus
far this year, 30.4 percent more than during the same period in
1991.
%/ The merchandise trade deficit for March increased to $5.8 billion
from $3.4 billion in February. The total deficit for the first three
months of the year was $14.9 billion, down from $16.5 billion for
the same period a year earlier.
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)
Two years (100 issues)

$18
$30

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.

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

2
Adjusted Monetary Base
Averages ot Daily Figures
Seasonally Adjusted

Billions of Dollars

1322

_ Apr

Billions of Dollars

Billions

1

May 13

t H 1 IT t IS !) I! 25 ID 24 7 21 4 II 2 IS 30 13 27 II 25 I 22 3 19 4 18 I 15 29 13 27
Mor

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

t

Feb

Mar

Apr

May

1991
Latest data plotted reserve maintenance period ending: May 13, 1992

Recent data are preliminary.

Adjusted Monetary Base
To the average of
two maintenance
periods ending:
10/16/91
11/13/91
12/11/91
1/8/92
2/19/92
3/18/92
4/15/92
5/13/92

Compounded annual rates of change, average of two maintenance periods ending:
5/15/91

8/7/91

7.1
8.0
7.7
7.3
8.7
8.8
8.4
8.5

9.5
8.6
7.9
9.8
9.8
9.1
9.2


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

10/16/91 11/13/91 12/11/91

9.2
7.8
10.7
10.6
9.5
9.5

5.2
10.0
10.1
8.8
9.0

11.9
11.4
9.6
9.6

1/8/92

14.1
10.9
10.7

2/19/92

3/18/92

6.8
7.8

6.5

Prepared by Federal Reserve Bank of St. Louis

Money Stock (Ml) and Total Checkable Deposits
Averages ot Daily Ngures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

M1

1992 Billions
— Apr 6
940.2
May 4

941.6
954.8

TCD (right scale).
M1 (left scale)

TCD
1992

Jv

Billions

Apr

6 660.6
13
658.9
cin
20664.1 — J/0
27 659.8
May 4 668.6
11 672.2

♦ 18 t ts 21 13 27 11 21 1 12 5 11 2 IS 31 14 21 II 25 1 23 S 21 3 17 2 IS 31 13 27 11 25
Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Feb

Dec

Mar

Apr

May

Latest data plotted week ending: May 11, 1992
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 (Ml)
Compounded annual rates of change, average of four weeks ending:

To the average 5/l3/91

8/12/91

10/14/91 11/11/91

12/9/91

1/13/92

16.7
19.6
15.1
14.9

26.6
17.4
16.5

2/10/92

3/9/92

of four weeks
ending:
10/14/91
11/11/91
12/9/91
1/13/92
2/10/92
3/9/92
4/13/92
5/11/92

8.8
9.8
10.4
10.3
11.8
13.1
12.1
12.3


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

11.0
11.7
11.2
13.4
15.1
13.4
13.5

14.9
12.7
15.8
17.8
15.0
14.9

11.5
15.9
18.3
14.9
14.8

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Seasonally Adjusted

Billions of Dollars

1992

Apr

Billions of Dollars

Billions

1

May 13

t ZO i 17 I IS 2) 12 2E to 21 7 21
Mar

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Feb

Mar

Apr

May

Latest data plotted two weeks ending: May 13, 1992
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
To the averaae of expounded annual rates of change, average of two maintenance periods ending:
two maintenance 5/15/91 8/7/91 l°/’6/9t 11/13/91 l2/n/91 ,/6/92 2/19/92 3/18/92
two maintenance
periods ending:
10/16/91
11/13/91
12/11/91
1/8/92
2/19/92
3/18/92
4/15/92
5/13/92

7.8
10.4

12.3

10.6

12.2

9.1

9.6
14.9
17.3
15.8
15.3

12.8

14.7
13.8
13.6


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

18.4
11.3
19.2
22.0

19.2
18.0

4.9
17.5
21.3
18.1
16.9

19.9
24.1
19.5
17.9

36.2
26.3
22.7

19.0
16.3

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier V
Averages of Daily Figures
Seasonally Adjusted
Compounded annual
rates of change,
average of the four
weeks ending
May 11, 1992 from
the four weeks ending:
May 13, 1991
3.4
Aug 5, 1991 3.8
Nov 11, 1991 5.3
Dec 9. 1991 4.7
Jan 6. 1992 5.3
Feb 17. 1992 4.1
Mar 16, 1992 1.0

Mar

Apr

May

Jun

Ratio
Mar 2

2.616
2.622
2.622
2.605
2.613
2.630

Apr 1 3
May 11

Jul

1991

Aug
'

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

1992

Latest data plotted two weeks ending: May 11, 1992

Currency Component of M1 2/
Billions of Dollars

Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Compounded annual
rates of change,
average of the four
weeks ending
May 11,1992 from
the four weeks ending:
May 13, 1991 6.9
Aug 12, 1991 7.2
Nov 11. 1991 6.5
Dec 9, 1991 7.2
Jan 13. 1992 7.1
Feb 10. 1992 5.9
Mar 9. 1992 5.4

1992
Apr

6

May 4

Billions
273.3
273.8
273.8
274.4
274.7

25 9 23 6 20 3 17 2 IB 30 13 27 11 25
30 14 28
4 18 1 15 29 13 27 10 24 8 22 5 19 2
Aug Sep Oct
Nov Dec Jan
Feb Mar Apr May
Mar Apr May Jun
Latest data plotted week ending: May 11,1992
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

5

Prepared by Federal Reserve Bank of St. Louis

6
Yields on Selected Securities

Percent

Averages of Daily Figures

Corporate

Aaa Bond*

Municipal Bond*

Prime Bank

Loan Rate

Commercial

1 15 29 12 26 10 24
Mar Apr May

5 19 2 16 30 13 27 II 25 8 22 6 20 3 17
Jul Aug
Sep Oct Nov Dec Jan
1991
Latest data plotted are overages of rates available for the week ending: May 22.
30—Day
90-Day
90-Day
Commercial
Bankers'
Corporate
1992
CDs
Paper
Acceptances Aaa Bonds
Feb 28

Mar

6

13
20
27
Apr 3

10

17
24
May 1

8

IS
22 *

4.16
4.22
4.24
4.29
4.25
4.19
4.08
3.93
3.96
3.92
3.85
3.77
3.75

4.19
4.27
4.28
4.32
4.27
4.25
4.11
3.95
3.95
3.92
3.88
3.85
3.81

4.08
4.17
4.19
4.21
4.19
4.12
4.01
3.84
3.87
3.82
3.77
3.71
3.69

8.31
8.32
8.34
8.38
8.36
8.35
8.32
8.28
8.33
8.37
8.35
8.27
8.23

V

31 14 28 13 27
Feb
Mar
1992
1992

10 24 8 22
Apr May

Corporate
Baa Bonds

Municipal

9.23
9.21
9.23
9.31
9.25
9.21
9.19
9.16
9.24
9.23
9.20
9.12
9.06

6.71
6.76
6.79
6.77
6.73

6.66
6.60

6.68

6.69
6.64
6.54
NA

♦ Averages of rates available
** Bond Buyer's Average Index of 20 municipal bonds, Thursday data
NA — Not Available


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

Prepared by Federal Reserve Bank of St. Louis

3.0

Selected Interest Rates

Percent

Percent

Averages of Daily Figures

Discount

1 15 29 12 26 10 24 7 21 5 19 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 13 27 10 24 8 22
Mar

Apr

May Jun

Jul

Aug

Sep

Oct

Nov Dec

Jan

Feb

1991

Mar

Apr

May

1992

Latest data plotted are averages of rates available for the week ending: May 22, 1992

1992
Feb 28
Mar 6
13
20
27
Apr 3
10
17
24
May 1
8
15
22 *

Federal
Funds **
3.96
4.08
3.95
4.04
3.94
4.09
3.98
3.65
3.47
3.65
3.77
3.84
3.89

3-Month
Treasury
Bill
3.94
4.04
4.02
4.06
4.03
4.01
3.80
3.63
3.68
3.69
3.63
3.60
3.57

6—Month
Treasury
Bill ***
4.08
4.10
4.13
4.27
4.27
4.19
4.02
3.73
3.86
3.85
3.78
3.74
3.71

1 -Year
Treasury
Bill
4.19
4.32
4.43
4.50
4.40
4.27
4.06
3.95
4.11
4.12
4.06
3.93
3.86

5-Year
Treasury
Securities
6.70
6.79
6.91
7.08
7.00
6.86
6.69
6.65
6.89
6.88
6.78
6.65
6.53

Long-Term
Treasury
Securities
7.79
7.83
7.91
7.98
7.91
7.84
7.78
7.76
7.94
7.95
7.87
7.73
7.66

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

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

Billions of Dollars

3S50

1

Billions of Dollars

2675

1
M2

1992

Billions

Apr

6
13
20
27
May 4
11

3500

3468.3
3469.5
3471.3
34 61.7
34 70.5
34 75.9

M2 'left sc ale)

2625

3450

2575
m

/ N✓

S

-s ''N

s -V
■•Tv

p✓—

3400

\

"\

*

N

Non -M1 M 2
Billio 02

1992

3350

3300

2525

N on-M1 M2 (ric ht sea e)

Apr

6
13
20
27
May 4
11

I
18
Mar

I 1 1 1 1 » 1 >
15 29 13 27 10 24 8 22 5 19 2 IS 30 14 28 11 25 9 23 6 20
Apr May Jun
Jul
Aug Sep Oct Nov
Dec Jan
1991

2527.1
2529.3
2525.4
2520.1
2519.5
2521.1

I

17 2 IS 30 13 27 11 25
Feb Mar Apr May
1992

2475

2425

Latest data plotted week ending: May 11, 1992
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, overnight 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)
Compounded annual rates of change, average of four weeks ending:
To the average
5/13/91 8/12/91 10/14/91 11/11/91 12/9/91 1/13/92 2/10/92 3/9/92
of four weeks
ending:
10/14/91
11/11/91
12/9/91
1/13/92
2/10/92
3/9/92
4/13/92
5/11/92

1.1
1.6
2.1
1.8
2.4
2.9
2.2
2.1


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

2.3
3.0
2.4
3.2
3.8
2.7
2.5

4.8
3.1
4.1
4.8
3.1
2.8

2.6
4.0
4.9
3.0
2.6

3.4
4.7
2.4
2.1

7.6
3.2
2.7

Prepared by Federal Reserve Bank of St. Louis

Savings and Money Market Funds
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Savings
1992

Billions

Money Market (right scale)

Money Market

1992

■Savings Deposits (left scale)

Billions

13
20
27
May 4

353.7 —
353.4
355.5
357.5

Note: Savings deposits are at all depository institutions. Money market funds are general purpose
and broker/dealer.

Large and Small Time Deposits1'
Billioi

Billions of Dollars

Averages of Daily Figures, seasonally Adjusted

Small Time
1992

Small Time (right scale)

Apr

6
13
20
27
May 4
11

Billions
991.7 —
987.9
983.6
979.2
975.2 —
971.0

Large Time (left scale)

Large Time
_ 1222 BllllflM
Apr

6

407.6

20

407.2

May 4
11

404.1
404.6

* 18 1 15 29 13 27 10 24 B 22 5 19 2 16 30 14 28
25 9 23 6 20 3 17 2 16 30 13 27 11 25
Mar Apr May Jun
Jul
Aug Sep Oct Nov Dec Jan
Feb Mar Apr May
1991
1992
Latest data plotted week ending: May 11,1992
1/ Large time deposits are those issued in demoninations of $100,000 or more.


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

Prepared by Federal Reserve Bank of St. Louis

9

10
Total Borrowings
From Federal Reserve Bank9
Averages of Daily Figures

Billions of Dollars

1992

Billions of Dollars

Billions

15
22
29
6
13
20

0.064
0.104
0.132
0.110
0.195
0.139

S 20 3 17 t 15 29 12
Mar Apr May Jun

10 21 7 21 1 18 2 18 ill 1J 27 11 25 8 2! 5 19 1 18 1 15 29 13 27
Jut
Aug Sep Oct Nov Dec Jan
Feb Mar Apr May
1991
1992

Adjustment + Seasonal Borrowings
from federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

1992
Apr 15
22

29
May 6
13
20

Billions of Dollars

Billions
0.063
0.101

0.128
0.110
0.195
0.139

6 20 3 17 1 15 29 12 26 10 24 7 21 4 18 2 16 30 13 27 11 25 8 22
Mar Apr May Jun
Jul
Aug Sep Oct Nov
Dec Jan
1991

5 19 4 18 1 15 29 13 27
Feb Mar Apr
May
1992

Latest data plotted week ending: May 20, 1992


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

Prepared by Federal Reserve Bank of St. Louis

Commercial Paper of Nonfinancial Companies

Billions of Dollars

1992

Billions of Dollars

____________ ______ Not Seasonally Adjusted
Billions

Apr 8 140.351
145.392
145.123
145.842
May 6 147.335
145.973

6 20 3 17 1 15 29 12 26 10 24 7 21 4 18 2 16 30 13 27
Mar Apr May Jun
Jul
Aug Sep Oct Nov Dec

22 5 19 4 18 1 15 29 13 27
Jan
Mar Apr May

Latest data plotted week ending: May 13, 1992

Commercial and Industrial Loans1 /
._ „
Bl lions of Dollars

Weekly Reporting Large Commercial Banks2/
'
H Seasonally Adjusted

Billions of Dollars

380 - - - -~- - -I - - - - - -j- - 370
3(0
350
340
330

380

I

Compounded anm. al
rates of change,
average of the fou r
weeks ending
May 6, 1992 from
the four weeks en<ling:
May 8, 1991 - 9.4
Aug 7. 1991 - 7.1
Nov 6, 1991 -i . 6
Dec 4, 1991 -t6.0 Jan 8. 1992 - 3.5
Feb 5, 1992 - 5.1

1992
Apr

Billions__

8
15
22
29
May 6

289.590
287.710_
287.506
286.635
286.026
286. 342

370
360
350
340
330

320

320

310

310

300

300

290

290

200

( 20
Mar

3 17 1 15 29 12 21 10 24 7 21 4 II 2 It 10 13 27 II 25 ! 22 5 19 4 I! 1 15 2) 11 27
Apr

May

Jun

Jul

Aug

Sep

Oct

1991

Nov

Dec

Jan

Feb

Mar

Apr

May

1992

Latest data plotted week ending: May 6, 1992
1/ Commercial and industrial loans include banker's acceptances and commercial paper.
2/ Banks with domestic assets greater than $1.4 billion
_
.. _ J
Prepared by Federal Reserve Bank of St. Louts


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

11

Dollar’s Trade-Weighted Exchange Index
1973=100

Averages of Daily Figures

1992 1973=100
Apr 15

6 20 3 17 1 15 2) 12 26 10 24 7 21 4 II 2 16 30 13 27 11 25
Mar

Apr

May

Jun

Jul

Aug
1991

Sep

Oct

Nov

Dec

I 22 $ 19 4 II 1 15 2) 13 27
Jan

Feb

Mar
1992

Apr

May

Latest data plotted week ending: May 20, 1992
Current data appear in the Federal Reserve Board's FI. 10 release.
Data are weighted overages 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

K

<
rv

® -i