Full text of U.S. Financial Data : May 28, 1992

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FederaTReserve Bank M 0 1 ^

©rmncial Data

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KAN hot
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THE WEEK'S HIGHLIGHTS:
%/ The yield on long-term Treasury securities fell 13 basis points
during the last four weeks to 7.82 percent, but is still 36 basis
points up from January of this year. The yield averaged 8.31
percent in May 1991.
The dollar's trade-weighted exchange index continued its decline
of the last five weeks to 88 percent of its 1973 average. The index
had been rising during the first three months of the year.
The Conference Board’s index of consumer confidence rose in
May to 71.6 percent of its 1985 level, following a mark of 65.1
percent in April. The index has increased in each of the last three
months, since dropping below 50 percent in February.
New orders for manufacturers ’ durable goods increased in April
for the fourth consecutive month, up 1.4 percent to $125.4 billion.
The total of new orders for the first four months of this year is
$490.4 billion, up 5.8 percent from the same period last year.

Views expressed do not necessarily reflect official positions of the Federal Reserve System.
US. Financial Data is published weekly by the Research and Public Information Division of the
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2

Adjusted Monetary Base
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

1992

Billions

Mar 18
Apr 1

Billions of Dollars

359.2
357.5
361.1
361.2
362.4
364.6

May 13

3 17
Apr

I 15 29 12 26 10 24 7 21 4 18 2 16 30 13 27 11 25
May

Jun

8 22 5 19 4 18 1 15 29 13 27

10 24

Jul

Aug
Sep
Oct
Nov
Dec
Jan Feb
Mar
Apr
May
Jun
1991
1992
Latest data plotted reserve maintenance period ending: May 27, 1992
The adjusted monetary base is the sum of reserve accounts of financial institutigns 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
To the average of
two maintenance
periods ending:
10/30/91
11/27/91
12/25/91
1/22/92
3/4/92
4/1/92
4/29/92
5/27/92

Compounded annual rates of change, average of two maintenance periods ending:
5/29/91 8/21/91 10/30/91 11/27/91 12/25/91 1/22/92 3/4/92
4/1/92

7.3
7.4
7.5
6.9
8.9
8.3
8.5
8.5


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Federal Reserve Bank of St. Louis

8.5
8.4
7.4
10.1
9.2
9.3
9.2

7.8
6.2
10.8
9.3
9.5
9.4

5.6
11.8
9.7
9.9
9.7

13.3
10.1
10.3
10.0

13.1
12.4
11.6

Prepared by Federal Reserve Bank of St Louis

Money Stock (M1) and Total Checkable Deposits
Averages ot Daily ngures

Billions of Dollars

1992

Billions of Dollars

Seasonally Adjusted

M1
Billions

Apr 13
20
27
May 4
11
18

940.2 •
945.9
941.6
951.0
955.3
953.9

TCD (right scale).

_>I1 (left scale i

—
TCD
L2S2 Billion?
Apr 13
20
27
May 4
11
18

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

658.9
664.1
. ....
659.8 — 570
668.6
672.6
671.5

May

Jun

1991
Latest data plotted week ending: May 18, 1992
Current data appear in the Federal Reserve Board's H.6 release.
Ml 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 5/20/91 8/19/91 10/21/91 11/18/91 12/16/91 1/20/92 2/17/92 3/16/92
of four weeks
ending:
10/21/91
11/18/91
12/16/91
1/20/92
2/17/92
3/16/92
4/20/92
5/18/92

8.7
9.8
10.1
10.2
12.2
13.1
12.0
12.2


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Federal Reserve Bank of St. Louis

11.4
11.7
11.5
14.3
15.3
13.5
13.5

14.1
12.9
16.9
17.9
14.9
14.8

11.7
17.3
18.4
14.7
14.6

19.5
20.3
15.2
15.0

590

26.6
16.9
16.3

Prepared by Federal Reserve Bank of St. Louis

4

Adjusted Reserves
Seasonally Adjusted

Billions of Dollars

1992

Billions of Dollars

Billions

Mar 4
Apr

1

May 13

3 17 1 15 29 12 26 10 24 7 21 4 18 2 16 30 13 27 11 25
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

22 5 II 4 II 1 15 29 13 27 10 24
Jan

Feb

Mar

Apr

May

Jun

1992

1991
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
Compounded annual rates of change, average of two maintenance periods ending:
To the average of 5/l5/91
g/7/91 10/16/91 11/13/91 12/11/91 1/8/92 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
10.6
9.1
12.8
14.7
13.8
13.6


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Federal Reserve Bank of St. Louis

12.3
12.2
9.6
14.9
17.3
15.8
15.3

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

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier1/
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 19, 1991 4.1
Nov 11. 1991 5.3
Dec 23, 1991 5.0
Jan 20, 1992 4.5
Feb 17, 1992 4.1
Mar 16. 1992 1.0

Ratio
Mar 2
Apr 13
May 11

2.616
2.622
2.622
2.605
2.613
2.630

1 15 29 13 27 10 24 8 22 5 19 2 18 30 14 21 11 25 9 23 6 20 3 17 2 16 30 13 27 11 25 8 22
Apr

May

Jun

Jul

Aug
1991

Sep

Oct

Nov

Dec

Jan

Feb

Mar
Apr
1992

May

Jun

Latest data plotted two weeks ending: May 11. 1992

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

280

Billions of Dollars

280

I----------1--------- 1
Compounded annual
rates of change,
average of the four
weeks ending
May 18. 1992 from
the four weeks ending
May 20,
Aug 19,
Nov 18.
Dec
Jan 20,
Feb 17
Mar 16

1992

Apr

May

Jun

Jul

Aug
1991

Sep

Oct

Nov

Dec

Billions

Apr 13
20
27
May 4
11
18

273.3
273.8
273.8
274.4
274.7
274.5

13 27 11 25 i
Jan

Feb

Mar
Apr
1992

May

Jun

Latest data plotted week ending: May 18, 1992
1/ Ratio of M1 to adjusted monetary base
2/ Current data appear in the Federal Reserve Board's H.6 release.


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

5

250

6

Yields on Selected Securities

Percent

Percent

Averages of Daily Figures

-Corporate-

Munlc paJ Bonds

5 19

3 17 31 14 28 12 26 9 23 6 20 4 18

Apr

May

Jun

Jul

Aug Sep
1991

Oct

1 15 29 13 27 10 24 7 21 6 20 3 17 1 15 29 12 26
Nov

Dec

Jan

Feb

Mar

Apr
1992

May

Jun

Latest data plotted are averages of rates available for the week ending: May 29, 1992

1992
Mar

6
13
20
27
Apr 3
10
17
24
May 1
8
15
22
29 *

90-Day
CDs

30-Day
Commercial
Paper

90-Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

4.22
4.24
4.29
4.25
4.19
4.08
3.93
3.96
3.92
3.85
3.77
3.78
3.88

4.27
4.28
4.32
4.27
4.25
4.11
3.95
3.95
3.92
3.88
3.85
3.83
3.92

4.17
4.19
4.21
4.19
4.12
4.01
3.84
3.87
3.82
3.77
3.71
3.74
3.84

8.32
8.34
8.38
8.36
8.35
8.32
8.28
8.33
8.37
8.35
8.27
8.23
8.26

9.21
9.23
9.31
9.25
9.21
9.19
9.16
9.24
9.23
9.20
9.12
9.07
9.12

6.71
6.76
6.79
6.77
6.73
6.66
6.60
6.68
6.69
6.64
6.54
6.51

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


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Federal Reserve Bank of St. Louis

Selected Interest Rates

Percent

Averages of Doily Figures

Percent

Federal
Funds Rate

Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Dec

Feb

Mar

Apr

15 29 12 26
May
Jun

Latest data plotted are averages of rates available for the week ending: May 29. 1992

Federal
Funds **

3—Month
Treasury
Bill

6-Month
Treasury

Treasury

5—Year
Treasury
Securities

Long-Term
Treasury
Securities

Current data appear in the Federal Reserve Board's H.15 release excludim
which are computed by this bank. Treasury bill yields ore on a discount b<
* Averages of rates available
** Seven-day averages for week ending two days earlier than date shown
*** Auction average (discount)


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Federal Reserve Bank of St. Louis

Prepared by 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

Billions of Dollars

M2
1992 Billions
\pr 13 3468.7
20 3470.5
27 3460.8.
Aay 4 3469.7
11 3475.8
18 3468.4

M2 (left

Non-M1 M2 (right scale)

Non-M1 M2
Billions
Apr 13 2528.5
2519.2
May 4 2518.7
2520.5
2514.5

1 15 29 13 27 10 24 ! 22 5 19 2 16 30 14 20 11 25 9 23 6 20 3 17 2 16 30 13 27
Apr

May

Jun

Jul

Aug

Sep

Oct

Nov

Mar

Dec

Apr

Latest data plotted week ending: May 18, 1992
Current data appear in the Federal Reserve Board's H.6 release.
residents
M2 is the sum of M1. overnight RPs issued by all commercial banks overnight Eurodollars issued toU^S.res
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)
Comoounded annual rates of change, average of four weeks ending:
To the average 5/20/91 8/19/91 10/21/91 11/18/91 12/16/91 1/20/92 2/17/92 3/16/92
of four weeks
ending:
10/21/91
11/18/91
12/16/91
1/20/92
2/17/92
3/16/92
4/20/92
5/18/92

1.0
1.5
2.0
1.8
2.5
2.7
2.1
2.0


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Federal Reserve Bank of St. Louis

2.5
3.1
2.4
3.5
3.7
2.6
2.4

4.9
3.0
4.5
4.6
3.0
2.6

2.4
4.5
4.6
2.7
2.4

4.2
4.4
2.1
1.9

7.1
2.9
2.4

0.2
0.3

-1.7

Prepared by Federal Reserve Bank of St. Louis

Savings and Money Market Funds
Averages of Daily Figures

Billions of Dollars
1135 i --------- 1----------!---------

910

Savings
1-992

1095

-

Billions

Apr 13 1111.5
20 1112.5
in 2.5
May 4 111 6.1
11 112 1.9
18 112 4.9

390
Money Mark >t (righ : scale

1055

^ **• — -W*

370

\
*

X

r
*

/v, ,

\
\

1015

350
Mo ney Me rket
199,
Billi 2ns
Sovings [

975

935

r-* i

Apr

Ml1 T 1 1 ‘ T » 1 ■1

r

May

Jun

Jul

cale)

Apr
0 353.4 —
7 355.5
May 4 357.5
1 356.7
■ 8 355.0
______ I_____
_____

i ■ i ■ n-rr-T

Aug

Sep

Oct

Nov

Dec

330

2 16 30 13 27 11 25 8 22

Jan

Feb

Mar

Apr

1991
iqqo'
Note: Savings deposits are at all depository institutions. Money market funds are general pumose
and broker/dealer.

May

Jun

r

Large and Small Time Deposits1 /
All Depository Institutions

Billions of Dollars

Billions of Dollars

550

----------I-------Srr all Time
199 2 Billions

525

Apr 13
20
27
May 4
1
8

Smal Time right s cale)
vx

500

987.6
983.4
978.9
974.9
97 0.9 —
96 7.2

1170
1140
1110

X

475

X

X
X

X

450
425
400

Lar ge
_ 12a2
Apr 13
20
27
_ May 4
11
18

Tirrie
Billions
40 7.4
40 7.2
40 3.6
40 4.0
40
40 1.0

375
May

Jun

1050

\

-arge 1 lme (left seal 0

\
\

1020
V

990

~x—
X

■—r1 i T"» 1

Apr

i*

Jul

\

I 1 1 1 -t-i ■ 1

Aug

Sep

Oct

Nov

1991

Dec

Jan

117 2 1$ 30 13 27 11 2S ! 22
Feb

Mar

Apr

May

Jun

1992

Latest data plotted week ending: May 18, 1992
1 / Large time deposits ore those issued in demoninations of $1 DO.OOO or more.


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

9

900

10

Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars
1992

Billions

— Apr 22
29
May 6
13
20
27

Apr

Billions of Dollars

0.104.
0.132
0.110
0.195
0.139
0.174

May

Jun

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar
Apr
1992

May

Jun

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

Billions of Dollars

1992

Billions

Apr 22
29
May 6
13
20
27

Billions of Dollars

0.101
0.128
0.110
0.195
0.139
0.174

Apr

May

Jun

Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar
Apr
1992

May

Jun

Latest data plotted week ending: May 27, 1992


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Federal Reserve Bank of St. Louis

Prepared by Federal Reserve Bank of St. Louis

Commercial Paper of Nonfinandal Companies

Billions of Dollars

1992

Billions of Dollars

Not Seosonolly Adjusted

Billions

Apr 15 14-5.392

145.842
May 6 147.335
145.973
145.907

3 17 1 15 2! 12 26 10 24 7 21 4 18 2 16 30 13 27 11 25 8 22
Apr

May

Jun

Jul Aug

Sep

Oct

Nov

Dec

Jan

5 19 4 18 1 15 29 13 27 10 24
Feb Mar

1991

Apr

May

Jun

1992

Latest data plotted week ending: May 20, 1992

Commercial and Industrial Loans' 7
Weekly Reporting Large Commercial Banks2/
Seasonally Adjusted

Billions of Dollars

380
370
360
350
340
330

Billions of Dollars
380
I

-------- 1----------1--------Compounded annu al
rates of change,
average of the fou
weeks ending
May 13, 1992 from
the four weeks enc ng:
May 15, 1991 -S .3
Aug 14. 1991 -€ .9
Nov 13. 1991 —€ .4
Dec 11, 1991 -5
Jan 15. 1992 -2 .6
Feb 12, 1992 -£ .3
.8

1992

Billions__

287.710
1 287.506__
25 286.635
2£ 286.026
LMay
285.964
1 285.477
Apr

360
350
340
330

320

320

310

310

300
290
280

290
' i ■

3 17

v r-i-T ■

t

■ r

8 ■ 1 ■ 1 1 1 1 1 ■ 1 ' 1 • 1 * 1

-t T~ "T r' r i" t r i r

I 13 29 12 26 ID 24 7 21 4 II 2 16 39 13 27 11 25 8 22 5 19 4 18 1 15 29 13 27 19 24

Apr May

Jun

Jul

Aug

Sep

Oct

Nov

1991

Dec

Jan

Feb

Mar

Apr

May

Jun

1992

Latest data plotted week ending: May 13,1992
1 / Commercial and industrial loans include banker's acceptances and commercial paper.
2/ Banks with domestic assets greater than S1.4 billion
_
,. _ . . _
.
Prepared by Federal Reserve Bank of St. Louis


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Federal Reserve Bank of St. Louis

11

280

Dollar’s Trade-Weighted Exchange Index
1973-100

1973=100

Averages of Daily Figures

1992 1973=100
Apr 22

3

17 1 15 29 12 26 10 24 7 21 4 18 2 16 30 13 27 11 25 8 22 5 19
Apr May
Jun
Jul
Aug
Sep
Oct
Nov Dec Jan Feb
1991

4 18
Mar

1 15 29 13 27 10 24
Apr
May Jun
1992

Latest data plotted week ending: May 27, 1992
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


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Federal Reserve Bank of St. Louis

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