Full text of U.S. Financial Data : May 7, 1987

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federal Reserve
of St. Louis

cial Data
MAY 13 ]987

May

1987

THE WEEK’S HIGHLIGHTS:
is

Long-term interest rates have risen relative to shorter-term rates since
late March (see pages 6 and 7). Consequently, the current spread
between the rate on long-term Treasury securities and 3-month
T-bills is 310 basis points, compared with 207 basis points for the
week ending March 27.

^

Most large commercial banks raised their prime lending rate from
7.75 percent to 8 percent on Friday, May 1.

is

The growth of the adjusted monetary base has been a slow 5.7 percent
(see page 2) since late January. This compares with an 8.8 percent
growth during all of 1986.

v*

The value of new construction decreased at an annual rate of 14.3
percent during March, down from the increase of 9.2 percent in
February.

is

Consumer credit fell by $63 million in March after increasing by
$1 billion in February.

FEDERAL
A HANK
RESERVE
X
of

Or sr. ixhxs

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

BILLIONS OF DOLLARS
268

BILLIONS

_

259.3
261 .0
260.0
261.1

APR

264

260

248

12 26

0 23

7 21

4

18

2 16 50 13 27

AUG

10 24

6 22

S 19

3 17 31

SEP

14 28 I

JAN

FEB

25 II

25

8 22

6 20

MAR

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING-. MAY 6, 1087
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 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
BAW. 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 ENDINGt
5/7/86

7/30/86

10/8/86

1/5/86

2/3/86 12/31/86

1 1.6
12.7
10.3
8.8
9.2

13.4
10.2
8.3
8.9

2/11/87

3/11/87

2.3
5.3

6.7

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDINGt
10/ 8/86
11/ 5/86
12/ 3/86
12/31/86
2/11/87
3/11/87
4/ 8/87
5/ 6/87

7.8
8.9
9.2
9.5
10.2
9.5
8.8
9.0


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Federal Reserve Bank of St. Louis

8.9
9.3
9.9
10.8
9.7
8.8
9.1

12.9
12.8
13.2
1 1.2
9.7
10.0

9.3
7.1
8.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
780 ------------- 1---------- 1------

BILLIONS OF DOLLARS
---------1---------- ----------- 780

BILLION?
740.8
738.9
742.2
756.7
758.0

3

1/ 31

MAR

14 28 12 28

APR

0 23

MAY

7 21

4

18

JUL
AUG
1986

I

IS 20

SEP

13 27

OCT

10 24

NOV

8 22

DEC

5

10

JAN

2 18

2 18 30 13 27

FEB

MAR
1987

11

LATEST DATA PLOTTED WEEK ENDING*. APRIL 27, 1987
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
DEPollT^AND^RAVELERS^CHECKS0 BY ™E N0NBANK PUBLIC* DEMAND DEPOSITS, OTHER CHECKABLE

MONEY STOCK ( Ml )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING*.
4/28/86

7/28/86

9/29/86 10/27/86 11/24/86 12/29/86

1/26/87

3/2/87

3.0
7.4

11.1

TO THE AVERAGE
OF FOUR WEEKS
ENDING*.
9/29/86
10/27/86
11/24/86
12/29/86
1/26/B7
3/ 2/87
3/30/87
4/27/87

17.4
17. 1
17. 1
19.8
18.6
16.5
15.5
15.7


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Federal Reserve Bank of St. Louis

15.5
15.8
20.4
18.5
15.6
14.3
14.7

16.2
24,0
20.2
15.7
13.9
14.5

27.9
21.6
15.8
13.6
14.3

3

23.8
15.5
12.9
13.8

4.8
4.7
7.7

25

4

MONEY MULT I PL I ER u
CURRENCY COMPONENT OF MONEY STOCK v
AVERAGES OF DAILY FIGURES
SEASONALLY AD JUS I tL)

RATIO

1987
EB.

RATIO

9
23
9
23
6
20

KR.
PR.

10 24

RATIO

2.838
2.846
2.831
2.849
2.833
2.860

7 21

5 19

APR

MAY

Ml MULTIPLIER

2 16 30 14 28 I I

JUL

25

8 22

AUG

6 20

3 17

OCT

NOV

JAN

APR

FEB

MAY

LATEST DATA PLOTTED TWO WEEKS ENDINGt APRIL 20. 1987
BILLIONS OF DOLLARS
-------------------- ----------- 192

BILLIONS OF DOLLARS
192 ------------- I---------- 1-----~
_

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR *EEKS ENDING
APRIL 27, 1987 FROM
THE FOUR WEEKS ENDING*.

_

MAR.
JAN.
DEC.
- NOV.
- OCT.
_
JUL.
APR.

2,
26
29,
24,
27,
28,
28,

1987
1987
1986
1986
1986
1986
1986

5.3
7.1
9.1
8.8
8.6
8.5
8.2

CURRENCY

MAR.

23

APR.

6

188.1
187.7
187.7
188.6
189.3

I 111111111111 J .U
3 17 31

14 28 12 28

APR

MAY

9 23

1

7 21

JUL

AUG

IS 28 13 27

OCT

10 24

8 22

NOV

3 19

2 18

JAN

FEB

2 18 30 13 27 11

APR

25

MAY

LATEST DATA PLOTTED WEEK ENDINGt APRIL 27, 1987
1/ RATIO OF MONEY STOCK (Ml J 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

_

MAR.

BILLIONS

of dollars

545.9
544.4
546.8
560.6
561 .9

3

17 31

14 28 12 20

0 23

7 21

4

JUL

AUG

18

1

15 28

13 27

OCT

10 24

8 22

NOV

5 18

2

JAN

FEB

16

2

16 30

13 27

11

25

LATEST DATA PLOTTED WEEK ENDING; APRIL 27. 1987
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, AVERAGE OF FOUR WEEKS ENDING:
4/28/86

7/28/86

9/29/86 10/27/86 11/24/86 12/29/86

1Z26/87

3/2/87

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
9/29/86
10/27/86
11/24/86
12/29/86
1/26/87
3/ 2/87
3/30/87
4/27/87

21.3
20.8
20.7
24.6
22.5
19.6
18.2
18.5


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Federal Reserve Bank of St. Louis

18.3
18.8
25.4
22.2
18.0
16.4
17.0

19.2
30.4
24.2
17.9
15.7
16.6

36.4
26.2
17.8
15.3
16.4

28.8
17.1
14.1
15.6

1.8
2.6
7.0

1.2
7.3

13.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

CORPORATE
AAA BONOS

MUNICIPAL
BONDS
PRIME BANK
LOAN RATE

COMCRCIAL
PAPEf

4

6 20

6 20

3 17

FEB

MAR

APR

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

1987.

MAR

18

1987
MAR.

APR.

MAY

2

16 30

APR

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

IS 27

JUN

II

25

8 22

5 10

3 17 31

JUL

14 26 12 26

NOV

0 23

DEC

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE

CORPORATE
Baa BONDS

MUNICIPAL
BONDS **

6. 10
6. 15
6. 16
6.22
6.30
6.30
6.65
6.58
6.78
6.87

6. 12
6.20
6.21
6.29
6.30
6.23
6.50
6.39
6.59
6.76

5.98
6.08
6. 10
6. 18
6.21
6.23
6.52
6.49
6.70
6.78

8.34
8.36
8.36
8.36
8.50
8.56
8.82
9.07
9.21
9.21

9.60
9.61
9.58
9.62
9.72
9.77
10.05
10.23
10.37
10.42

6.54
6.61
6.68
6.79
6.93
7.27
7.90
7.82
7.85
N.A.

Aaa bonds

NOTEt
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE.
* AVERAGES OF RATES AVAILABLE
X* 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

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES

percent

RATE

TREASURY 1!

I TIES

DISCOUNT RATE

3-M<
TREASUf

4

6 20

6 20

9 17

FEB

MAR

APR

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENOINGt MAY 8,

1987.

MAR

18

APR

2 16 90 18 27

JUN

II

25

8 22

5 10

9

17 91

JUL

14 28 12 26

NOV

0 29

DEC

I

15 20

1986

1987
MAR.

APR.

MAY

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

FEDERAL
FUNDS XX

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL XXX

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

6.06
6.12
6.08
6. 14
6.21
6. 13
6.41
6.26
6.50
7.30

5.54
5.66
5.55
5.60
5.56
5.62
5.80
5.54
5.69
5.66

5.51
5.59
5.58
5.55
5.80
5.63
6.08
6.00
6. 14
6.16

5.61
5.72
5.64
5.71
5.81
5.87
6. 19
6.24
6.31
6.41

6.71
6.77
6.76
6.83
7.09
7.24
7.68
7.83
7.92
8. 10

7.58
7.63
7.61
7.67
7.94
8.06
8.43
8.62
8.63
8.76

NOTE* CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 RELEASE EXCLUDING LONG-TERM TREASURY
* AVERAGES1UOFrRATESHAVAILABLE*0MPUTED BY THIS BANK'
TREASURY BILL YIELDS ARE ON A DISCOUNT BASIS.


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Federal Reserve Bank of St. Louis

EM)ING ™ DAYS «"■'« ™*N 0ATE

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
COMMERCIAL BANK
SMALL TIME DEPOSITS^
LARGE TIME DEPOSITS*/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
410 ------------- 1---------- 1-----1987
_

MAR.

BILLIONS OF DOLLARS
------------------------------- -410

BILLIONS

23

— APR.

350.6
358.9

SMALL TIME DEPOSITS

LATEST DATA PLOTTED WEEK ENDINGt APRIL 27, 1987
BILLIONS OF DOLLARS
------------------------------- 310

BILLIONS OF DOLLARS
310 ------------- 1---------- 1----1987
_

MAR.

BILLIONS

23
300.8

— APR.

305. 1
306.1

LARGE TIME DEPOSITS

9 17 91

M 28 12 26

APR

9 29

MAY

7 21

4 18

JUL

AUG

1

19 29 13 27

LATEST DATA PLOTTED WEEK ENDINGt APRIL 27,

OCT

10 24

8 22

NOV

5 19

2

JAN

FEB

16

2 16 30 19 27

APR

11

25

MAY

1987

1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000
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

COMMERCIAL BANK
TOTAL TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
840 ------------- ,---------- 1------

.1987
__ MAR.

3 17 31

BILLIONS OF DOLLARS
------------------------------- 84°

BILLIONS
027.4
829.2
833.0
836. I
836.0
838.7

14

APR

12 26

—

0 23

MAY

7 21

4 IS

JUL

AUG

I

15 29 13 27 10 24

OCT

8 22

NOV

5 10

2

JAN

FEB

16

2 IS 30 13 27

APR

II

25

MAY

LATEST DATA PLOTTED WEEK ENDINGt APRIL 27, 1987
TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
4/28/86

7/28/86

9/29/86 10/27/86 11/24/86 12/29/86

1/26/87

3/2/87

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
9/29/86
10/27/86
11/24/86
12/29/86
1/26/87
3/ 2/87
3/30/87
4/27/87

-0.8
-1.0
-0.5
0.5
2.0
2.2
2.6
3.5


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

0.2
0.8
2. 1
4.2
4. 1
4.4
5.4

0.5
2.9
5.8
5.4
5.6
6.7

5.0
8.3
7, 1
7.0
8.1

10.9
8.3
7.9
9.1

9.2
8.4
9.8

5. 1
7.9

10.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

835

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
3.0 ---------- 1------------- 1------

1991

BILLIONS OF DOLLARS
------ ------------- ----------- 3.0

MILLIQfcfi.
8

591

22

1219

6

2021

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGt MAY 6, 1987
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

1991

MI.ILJ.QMS.

6

1759
ADJUSTMENT + SEASONAL
BORROWINGS

3 19

2

16 30 14

MAY

II

25

9 23

fl 20

3 17

JUN

I

IS

12 26 10 24

7 21

4

JAN

FEB

IS

4

IS

1

IS 2* 13 27

MAR

LATEST DATA PLOTTED WEEK ENDINGt MAY 8, 1987


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

NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
------------------------------- 95

95 --------- ,------------,----I

1987
APR.

MILLIONS
I

76,955
74,901
75,946
76,796
79,343
79,202

2 16 30 14 28 II 25
MAY
JUN

5 19

9 23

0 20

AUG
1986

3

17

I

13 29 12 23 10 24

SEP

7 21

4 18

4 IB

JAN

FEB

MAR
ig87

I

15 29 13 27

LATEST DATA PLOTTED WEEK ENDING: APRIL 29, 1987

BUSINESS LOANS v
( COMMERCIAL AND INDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
290

BILLIONS OF DOLLARS
290

_ COMPOUNDED ANNUAL RATES
_ OF CHANGE, AVERAGE OF
FOUR WEEKS ENDING

'LjB’JiR
-ffl
- THE

HML.

-

-11.2
-10.0
8.3
13.7
13.0
9.4
6.6

FEE
JAM
DEC
NOV
0C1

25,
21,
24,
19.
22,
23,
23,

1987
1987
1986
1986
986
986
986

V
\_

280

V/*
2

.1.1

1 1

.
.
.
.
•
.
JUL
- APP .

1111

---------J------- |------- 1---------

_

270

260

"T^TTT

:

’*1 1 1
MAR

1987

A/V "V /-V

MILUfiUS -

MAR. 18
25
1
8
15
22

280,349
279,205
278,173
277,769
279,372
279,652

Mil

111

111

1111

111

111

Ml 1

1 1 1

11 II

1II

Mil ................. ....

APR

MAY

JUN

JUL

AUG

SEP

OCT

NOV

DEC

JAN

FEB

1986

I
_
—
-

MAR
1987

LATEST DATA PLOTTED WEEK ENDlNGt APRIL 22, 1987
1/ BUSINESS LOANS INCLUDE BANKERS1 ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS 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