Full text of U.S. Financial Data : May 9, 1985

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Federal Reserve Bank
of St. Louis

U.b. Financial Data
mayi

4 1985

May 9,1985

During the past 12 months, spreads between interest rates
have changed several times. The table below and the chart on
page 7 show that the spread between three-month and one-year
Treasury bills last May was about 50 basis points, while the
spreads between the three-month bill and both the five-year and
long-term Treasury securities were more than 300 basis points.
Long-term rates fell sharply through mid-September, while
short-term rates rose erratically and the spread between
three-month and long-term instruments declined to about 200
basis points. From September to the end of 1984, rates on all
maturities drifted downward, although shortterm rates fell more
and, consequently, spreads with long-term rates widened again to
their May 1984 values. Since the beginning of 1985, although
rates of all maturities have fluctuated, spreads between the
three-month bill and long-term securities have changed slightly.
Basis Point Spread Between Three-Month Treasury Bill Rate and:

Date
5/11/84
9/14/84
12/28/84
5/10/85

1-year
Treasury
bill
49
16
73
33

5-year
Treasury
securities
302
217
329
293

Long-4erm
Treasury
securities
319
195
377
362
—Michael T. Belongia


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

ISS5.
APR.

BILLIONS OF DOLLARS
228

BILLIONS.
3

226

223.7
223.7
224
219.9
225.3

222
220
218
216
214
212

210
208
206

7 21

4

MAR

APR

18

2

16 30 13 27

JUN

11

23

8 22

9 IS

3 17 31

14 25 12 26

NOV

JUL

0 23

DEC

0 20

6 20

FEB

MAR
1985

1984
LATEST DATA PLOTTED WEEK ENDINGi MAY 8.

3

17

1

15 20

APR

1985

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) AtC 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
COMPOUNDED ANNUAL RATES OF CHANGE ,
5/9/84

6/8/84 10/10/64

AVERAGE OF FOUR WEEKS ENDING:

11/7/84

12/5/84

8.9
7.3
8.9
8.5
7.3

6.3
8.8
8.2
6.9

1/9/85

2/6/85

3/6/85

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
10/10/84
11/ 7/84
12/ 5/84
1/ 9/85
2/ 6/85
3/ 6/85
4/10/85
5/ 8/85

7.0
5.7
6.2
6.5
6.2
7.0
7.0
6.5


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Federal Reserve Bank of St. Louis

3.8
5. 1
5.9
5.5
6.7
6.7
6. 1

4.0
5.7
5.2
6.9
6.9
6. 1

9.0
8.1
6.5

10.2
7.3

4.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
585

BILLIONS
580

572.9
574.8
573.8
573.5
576. I
575.2

575

570

565

560

555

550

545

540

535

5 18

2

11

16 30 14

MAY

25

JUN

0 23

6 20

3 17

AUG

SEP

1

15 2S 12 26 10 24

7 21

4 16

4 18

JAN

FEB

MAR

I

15 28 IS 27

LATEST DATA PLOTTED WEEK ENDING: APRIL 29. 1985
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
Ml IS THE SUM OF CURRENCY HELD BY THE NONBANK PUBLIC, DEMAND DEPOSITS, OTHER CHECKABLE
DEPOSITS AND TRAVELERS CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
4/30/84

7/30/84

5.4
3.2
4.6
5.4
5.7
6.8
6.6
6.5

0.8
3.8
5.3
5.7
7.3
6.9
6.8

AVERAGE OF FOUR WEEKS ENDING:

10/1/84 10/29/84 11/26/84 12/31/84

1/28/85

3/4/85

10.6
9.1

4.9

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
10/ 1/84
10/29/84
11/26/84
12/31/84
1/28/85
3/ 4/85
4/ 1/85
4/29/85


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Federal Reserve Bank of St. Louis

2.3
5.4
6.0
8.2
7.6
7.3

12.2
10.9
12.3
10.8
10.0

9.4
1 1.8
10.0
9.2

12.5
9.8
8.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK u
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

2.9

------ 1---------1------1985

KM-

RATI a

!•»

2.8

8

Ml Ml LTIPLI

■R

A

T

~--s/ V"

s' S

S'

uL

2.6

___ j

s

2.5

2.4

!!lll

1 1 1 1

111

_LLL

1 1 l.L

111

mi

LATEST DATA PLOTTED WEEK ENDINGi APRIL 29.

1111

111

1111

111

111

III

1111

■m!'

BILLIONS OF DOLLARS
166

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES
__ OF CHANGE, AVERAGE OF
THE FOUR *EEKS ENDING
- APRIL 29. 1985 FROM
THE FOUR WEEKS ENDING;
JAN.
DEC.
— NOV.
OCT.
” Jl
R.

4,
28.
31
26.
29.

1985
1965

30,

1984

164

162

160

1984
1984

CURRENCY
158

1985

BILLIONS
161.5
161.8
161.3
161.6
162.2

I I I 1 I I 1
5

19

2 16 90 14 28 II

MAY

JUN

9 29

6 20

9 17

AUG

SEP

LATEST DATA PLOTTED WEEK ENDINGi APRIL 29.

1

19 29 12 26 10 24

7 21

4 19

4 19

JAN

FEB

MAR

I

IS 29 19 27

1985

1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.


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Federal Reserve Bank of St. Louis

0

1985

PREPARED BY FEDERAL RESERVE BAfK OF ST. LOUIS

152

150

TOTAL CHECKABLE DEPOSITS
BILLIONS

of

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

DOLLARS

billions of dollars

BILLIONS
406.2
407.9

— APR

409.0
407.5

5

18

2

16 30 14 28

MAY

II

25

JUN

8 23

6 20

3

AUG

SEP

17

I

15 28

12 26

10 24

7

21

JAN

4

18

FEB

4

18

I

15 28

13 27

MAR

LATEST DATA PLOTTED WEEK ENDINGt APRIL 29, 1985
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
4/30/84

7/30/84

4.7
1.9
3.8
4.9
5.4
6.9
6.6
6.6

-0.7
3.2
5. 1
5.8
7.8
7.3
7.2

AVERAGE OF FOUR WEEKS ENDING:

10/1/84 10/29/84 11/26/84 12/31/84

1728/85

3/4/85

12.0
10.2

5.1

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
10/ 1/84
10/29/84
11/26/84
12/31/84
1/28/85
3/ 4/85
4/ 1/85
4/29/85


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Federal Reserve Bank of St. Louis

1.5
5.3
6.3
9. 1
8.3
8.0

14.1
12.7
14.4
12.4
11.5

10.8
13.7
11.4
10.5

14.7
11.3
10.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT
15.0

15.0

‘RIME BANK

CORPORATE
AAA bonds

I 1 .0

MUNICIPAL
BONDS

I I I I
2 16 30 15 27 II

APR

23

8 22

6 20

3

17 31

MAY

14 28 12 26

SEP

OCT

0 23

7 21

DEC

JAN

FEB

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MAY 10, 1985.

1985
MAR.

APR.

MAY

1
8
15
22
29
5
12
19
26
3
10 *
17
24
31

90 DAY
CD'S

30-DAY
COMMERC1AL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

8.91
9.22
9.04
9.01
8.82
8.80
8.69
8.39
8.20
8.29
8. 14

8.55
8.80
8.77
8.72
8.67
8.64
8.53
8.23
7.99
8.15
7.99

8.82
9. 12
8.92
8.84
8.69
8.66
8.52
8.23
8.09
8. 15
8.07

12.47
12.55
12.58
12.64
12.50
12.44
12.34
12.09
12.09
12.15
12.06

Baa BONDS

CORPORATE

MUNICIPAL
BONDS *X

13.51
13.63
13.70
13.75
13.68
13.61
13.61
13.44
13.41
13.44
13.40

9.71
9.75
9.76
9.82
9.75
9.63
9.39
9.25
9.39
9.37
N.A.

WJk-.CUJWEMT DATA APPEAR! N THE BOARD OF GOVERNORS' H.I5 RELEASE.
* AVERAGES OF RATES AVAILABLE
** BOND BUYER'S AVERAGE IKJEX 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

7

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES

PERCENT
15.0

5-Y
TREASURY SECURITIES

FEDERAL
FUNDS RATE

10.0
3-MONTH
TREASURY BILL

I I I I
2

16 30

IS 27

11

25

8 22

6 20

3 17 31

14 28 12 26

SEP

OCT

9 23

7 21

DEC

I

JAN

1984

15

1

15 29

1985

LATEST^DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MAY 10,

1985
MAR.

APR.

MAY

1
8
15
22
29
5
12
19
26
3
10 *
17
24
31

12 26 10 24

FEB
1985.

FEDERAL
FUNDS *X

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL***

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.40
8.63
8.52
8.75
8.38
8.68
8.45
8.46
7.69
8.35
8. 19

8.47
8.69
8.55
8.51
8.29
8. 17
8.08
7.86
7.77
7.78
7.77

8.53
8.98
8.79
9.04
8.86
8.55
8.56
8.27
7.87
8. 1 1
7.93

8.84
9.09
9.09
9.15
8.90
8.79
8.60
8.27
8.22
8.25
8.10

11.47
1 1.51
11.54
1 1 .60
11.43
11.33
11.19
10.81
10.79
10.85
10.70

1 1 .91
11.95
11.92
11.98
1 1 .84
11.79
11.65
11.38
11.45
11.49
11.39

NOTE: CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.I5 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 EARL IER THAN DATE SHOWN
X8I6K AUCT I ON AVERAGE ( D ISCOUNT )


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
COMMERCIAL BANK
SMALL TIME DEPOSITS 1/
LARGE TIME DEPOSITS v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

BILLIONS
kR.

25
387.1
387.1
388.2
388. 1

SMALL TIME DEPOSITS

I I I I
LATEST DATA PLOTTED WEEK ENDING* APRIL 29, 1985
BILLIONS OF DOLLARS
280

BILLIONS OF DOLLARS

BILLIONS
MAR.
APR.

25

275

270.5

LARGE TIME DEPOSITS

271 .0

270

273.4
274.6

265
260
255
250
245

I I I I
5 19

2

16 SO 14 28 II

23

9 23

6 20

3 17

AUG

SEP

LATEST DATA PLOTTED WEEK ENDING. APRIL 29,

4

I

18

4 18

I

IS 29 13 27

1985

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


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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

BILLIONS OF DOLLARS
800

BILLIONS
773.9
776.0
777.5
778. I
781.2
782.3

I I I I
5 10

2

16 50 M 28 II

23

8 23

0 20

AUG
1984

3

17

SEP

JAN

FEB

MAR

LATEST DATA PLOTTED WEEK ENDINGt APRIL 29, 1985
TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIM

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGt
4/30/84

7/30/84

12.8
12. 1
10.6
9.5
7.5
6.5
6.6
7. 1

7.3
5.9
5.2
3.0
2.4
3.0
3.9

10/1/84 10/29/84

1/2S/84 12/31/84

1/2S/85

3/4/85

TO THE AVERAGE
OF FOUR WEEKS
ENDINGt
10/ 1/84
10/29/84
11/26/84
12/31/84
1/28/85
3/ 4/85
4/ 1/85
4/29/85


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

4.8
4.0
0.9
0.6
1.7
3.0

2.3
-1.2
-1 .0
0.6
2.3

-2.4
-1.8
0.3
2.4

-4.3
-0.6
2.2

3.2
5.8

10.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
10.0 ---------- 1---------- 1------

3
10

1687
1863

1
8

1272
634

BILLIONS OF DOLLARS

—I--------- ------------

10.0

TOTAL BORROWINGS

I I I I
LATEST DATA PLOTTED WEEK ENDING. MAY 8,

1985

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

2.0 --------- ---------- ------r

----- i--------- 1------------ 2.0
1985

MILLIONS,

ADJUSTMENT ♦ SEASONAL BORROWINGS

I I I I I I I I I I I 111 I II I 111 I 11 I
4 18

2 16 90 19 27 II 28

JUN

8 22

19

JUL

9 IT SI

14 28 12 26

NOV

DEC

9 29

8 20

8 20

9 17

FEB

MAR

APR

LATEST DATA PLOTTED WEEK ENDING. MAY 8. 1985
1/ 84.562 FOR 5/16/84» 83.730 FOR 5/23/84, 82.969 FOR 5/30/84, 83.120 FOR 6/6/84


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MMDAS, MMMFS AND SUPER NOWS
(BILLIONS OF DOLLARS, NOT SEASONALLY ADJUSTED)

MMMFs 2/

MMDAs 1/
March

April

$292.6
293.5
293.9
294.1
* 295.2
297.2
297.3
295.1
293.8

4
11
18
25
1
8
15
22
29

Super NOWs 3/

*238.5
238.0
236.2
237.2
237.3
236.5
236.2
236.2
236.9

$53.0
53.3
53.0
52.9
53.6
55.6
56.1
56.1
53.8

1/ Money market deposit accounts at commercial banks, effective 12/14/82
2/ Total money market mutual fund balances
3/ NOW accounts at all depository institutions, requiring a $1,000 minimum balance
and eligible to earn more than 5.25 percent, effective 1/5/85

BUSINESS LOANSv

(COMMERCIAL AND INDUSTRIAL )

WEEKLY REPORT ING LARGE COMMERCIAL BANKS 2/
BILLIONS OF DOLLARS
264 ---------- i---------- i--------

SfcASUNALLY ADJUSTED BY THIS BANK

ILL IONS OF DOLLARS
—i---------- -------------- 264

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR *EEKS ENDING APRIL 24. 1985 FROM
THE FOUR’WEEKS ENDING:

— FEB.
JAN.
DEC.
__rwv.
_ OCT.
I JUL!
I APR.

27, 1985
23, 1985
26, 1984
ci, i ao-i
24, 1984
251 1984
25, 1984

MAR. 20
APR.

3

256,106
255,460

-

236

-

232

255,087

7 21
MAR

4 19
APR

2 16 90 13 27 It 25
JUN
JUL

8 22

9 10

LATEST DATA PLOTTED WEEK ENDING: APRIL 24,

I I II
9 17 31

14 28 12 26
NOV

0 29

DEC

1-1 111 I I I I I I 1 I I
8 20 6 20 9 17 I 18 26
FEB
MAR
APR

1985

1/ BUSINESS LOANS INCLUDE BANKERS’ ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOICSTIC ASSETS GREATER THAN 61.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BAM< OF ST. LOUIS

11