Full text of U.S. Financial Data : November 28, 2002
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November 28, 2002 USFinancialData THE WEEK’S HIGHLIGHTS: Because of the Thanksgiving holiday, United States Financial Data will not be published this week. All data are seasonally adjusted unless otherwise indicated. U.S. Financial Data is published weekly by the Research Division of the Federal Reserve Bank of St. Louis. For more information on data, please call (314) 444-8590. To be added to the mailing list, please call (314) 444-8809. Information in this publication is also included in the Federal Reserve Economic Data (FRED) data base on the internet at www.stls.frb.org/fred. Adjusted Monetary Base Averages of Daily Figures Seasonally Adjusted 710 Billions of Dollars 2002 Sep 18 Oct 2 16 30 Nov 13 27 700 Billions of Dollars Billions 687.960 690.081 688.368 692.680 691.016 692.958 710 700 690 690 680 680 670 670 660 660 650 650 640 640 3 17 31 14 28 12 26 Oct Nov Dec 9 23 Jan 6 20 6 Feb 20 Mar 3 17 1 Apr 15 29 12 26 10 24 May Jun 2001 Jul 7 21 Aug 4 18 Sep 2 16 30 13 27 11 25 Oct Nov Dec 2002 The adjusted monetary base is the sum of Federal Reserve deposits and vault cash held by domestic depository institutions, currency held by the public, and an adjustment for the effect of changes in reserve requirement ratios. The monetary base series includes Federal Reserve deposits used to satisfy clearing balance contracts. 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: Compounded annual rates of change, average of two maintenance periods ending: 11/28/01 2/20/02 5/1/02 5/29/02 6/26/02 7/24/02 8/21/02 5/1/02 9.1 5/29/02 10.8 6.9 6/26/02 9.3 5.3 9.8 7/24/02 9.5 6.3 10.2 5.2 8/21/02 9.0 6.0 8.8 5.0 7.8 10/2/02 8.4 5.8 7.7 4.9 6.5 4.8 10/30/02 7.9 5.5 6.9 4.6 5.7 4.2 4.0 11/27/02 7.5 5.2 6.4 4.3 5.2 3.9 3.7 10/2/02 2.8 Prepared by the Federal Reserve Bank of St. Louis Money Zero Maturity (MZM) Averages of Daily Figures 6200 Seasonally Adjusted Billions of Dollars 2002 Oct 14 21 28 Nov 4 11 18 6000 Billions of Dollars Billions 5985.8 5998.9 6019.0 6022.2 6062.2 6176.9 6200 6000 5800 5800 5600 5600 5400 5400 1 15 29 12 26 10 24 Oct Nov 2001 Dec 7 21 Jan 4 18 4 Feb 18 Mar 1 15 29 13 27 10 24 Apr May 8 22 Jun Jul 2002 5 19 Aug 2 16 30 14 28 11 25 Sep Oct Nov 9 23 Dec MZM is M2 minus total small denomination time deposits, plus institutional money funds, which are included in the non−M2 component of M3. Each component is seasonally adjusted. Money Zero Maturity (MZM) To the average of four weeks ending: Compounded annual rates of change, average of four weeks ending: 11/19/01 2/18/02 4/15/02 5/20/02 6/17/02 7/15/02 8/19/02 4/15/02 6.3 5/20/02 7.4 4.1 6/17/02 8.2 6.3 12.9 7/15/02 8.4 7.0 12.1 11.9 8/19/02 9.2 8.4 12.7 12.8 12.5 9/16/02 8.7 7.9 11.2 10.9 10.0 9.9 10/21/02 8.1 7.1 9.5 8.9 7.9 7.2 3.5 11/18/02 8.9 8.3 10.8 10.5 9.9 9.9 8.2 9/16/02 9.8 Prepared by the Federal Reserve Bank of St. Louis Adjusted Reserves Seasonally Adjusted 100 Billions of Dollars 2002 Sep 4 18 Oct 2 16 30 Nov 13 90 Billions of Dollars Billions 71.569 68.871 71.764 68.418 71.185 69.723 100 90 80 80 70 70 60 60 50 50 3 17 31 14 28 12 26 Oct Nov Dec 9 23 Jan 6 20 Feb 6 20 Mar 3 17 1 Apr 15 29 12 26 10 24 May Jun 2001 Jul 7 21 Aug 4 18 Sep 2 16 30 13 27 11 25 Oct Nov Dec 2002 Adjusted reserves is the difference between the adjusted monetary base and the currency component of M1. Adjusted Reserves To the average of two maintenance periods ending: Compounded annual rates of change, average of two maintenance periods ending: 11/14/01 2/6/02 4/17/02 5/15/02 6/12/02 7/10/02 8/7/02 4/17/02 −4.2 5/15/02 3.3 −17.2 6/12/02 2.7 −13.8 24.2 7/10/02 −0.2 −14.9 7.5 −10.6 8/7/02 0.4 −12.1 7.0 −5.6 −7.9 9/18/02 1.8 −8.1 8.0 −0.4 −0.2 8.7 10/16/02 1.4 −7.5 6.4 −0.7 −0.7 5.4 5.4 11/13/02 1.8 −6.2 6.4 0.4 0.6 5.7 5.9 9/18/02 2.2 Prepared by the Federal Reserve Bank of St. Louis Money Stock (M1) and Total Checkable Deposits Averages of Daily Figures Seasonally Adjusted 1400 Billions of Dollars Billions of Dollars M1 2002 Oct 14 21 28 Nov 4 11 18 1350 1300 875 TCD Billions 1195.0 1199.5 1219.4 1202.0 1192.7 1197.3 2002 Oct 14 21 28 Nov 4 11 18 Billions 567.6 571.6 591.0 573.4 564.2 568.4 825 775 1250 725 M1 (left scale) 1200 675 1150 625 1100 575 TCD (right scale) 1050 525 1 15 29 12 26 10 24 Oct Nov 7 Dec 21 4 Jan 18 4 Feb 18 1 15 29 13 27 10 24 Apr Mar May 8 5 Jul Jun 2001 22 19 2 Aug 16 30 14 28 11 25 Oct Sep 9 Nov 23 Dec 2002 M1 is the sum of currency held by the nonbank public, total checkable deposits and travelers checks. Total checkable deposits is the sum Fix of demand deposits and other checkable deposits at depository institutions. Current data appear in the Federal Reserve Board’s H.6 release. Currency Component of M1 Averages of Daily Figures Seasonally Adjusted 680 Billions of Dollars Billions of Dollars Compounded annual rates of change, average of the four weeks ending November 18, 2002, from the four weeks ending: 660 Nov 19, 2001 Feb 18, 2002 May 20, 2002 Jun 17, 2002 Jul 15, 2002 Aug 19, 2002 Sep 16, 2002 640 620 2002 Oct 14 21 28 Nov 4 11 18 8.2 7.1 6.0 4.8 3.4 2.8 3.1 Billions 619.6 620.2 620.7 621.0 621.0 621.3 680 660 640 620 600 600 580 580 560 560 1 15 29 12 Oct 26 10 24 Nov Dec 7 21 Jan 4 18 Feb 4 18 Mar 1 15 29 13 27 10 24 Apr May 2001 8 22 Jul Jun 5 19 Aug 2 16 30 Sep 14 28 11 25 Oct 9 Nov 23 Dec 2002 Current data appear in the Federal Reserve Board’s H.6 release. Fix Prepared by the Federal Reserve Bank of St. Louis Yields on Selected Securities Averages of Daily Figures 8.00 Percent Percent 7.00 8.00 7.00 Corporate Aaa Bonds 6.00 6.00 5.00 5.00 Prime Rate 4.00 4.00 2−Year Interest Rate Swap 3.00 3.00 2.00 2.00 Commercial Paper 1.00 1.00 5 19 2 Oct 2002 Sep 6 13 20 27 Oct 4 11 18 25 Nov 1 8 15 22 29 16 30 14 28 11 25 Nov 2001 Dec Jan 8 22 8 Feb 22 Mar 5 19 Apr 3 17 31 14 28 12 26 May 9 Jun Jul 2002 23 Aug 6 20 4 Sep 18 Oct 1 15 29 13 27 Nov Dec 30−Day Commercial Paper 90−Day CDs 2−Year Interest Rate Swap Corporate Aaa Bonds Corporate Baa Bonds Municipal Bonds * 1.72 1.73 1.72 1.73 1.73 1.72 1.72 1.73 1.68 1.43 1.28 1.28 1.30 1.75 1.77 1.77 1.75 1.72 1.72 1.78 1.78 1.65 1.46 1.34 1.36 1.36 2.34 2.49 2.40 2.33 2.17 2.19 2.48 2.54 2.17 2.18 2.17 2.31 2.41 6.21 6.21 6.12 6.10 6.13 6.15 6.41 6.50 6.39 6.32 6.22 6.30 6.34 7.40 7.43 7.37 7.39 7.44 7.57 7.86 7.95 7.81 7.71 7.56 7.56 7.57 4.78 4.77 4.69 4.71 4.68 4.66 4.98 5.12 4.95 4.91 4.90 5.00 N.A. Current data, from the Federal Reserve Board’s H.15 release, are averages of rates available for the week ending November 29, 2002 . * Bond Buyer’s Average Index of 20 municipal bonds, Thursday data. Prepared by the Federal Reserve Bank of St. Louis Selected Interest Rates Averages of Daily Figures 6.00 Percent Percent 5.00 6.00 5.00 10−Year Treasury Securities 4.00 4.00 3.00 3.00 Intended Federal Funds Rate Federal Funds Rate 2.00 2.00 3−Month Treasury Bill 1.00 1.00 5 19 Oct 2 16 30 14 28 11 25 Nov 2001 2002 Sep 6 13 20 27 Oct 4 11 18 25 Nov 1 8 15 22 29 * Dec Jan Federal Funds** 1.81 1.73 1.73 1.72 1.80 1.73 1.75 1.72 1.79 1.70 1.21 1.28 1.27 8 22 8 Feb 22 Mar 5 19 Apr 3 17 31 14 28 12 26 May Jun Jul 2002 9 23 Aug 6 20 4 Sep 18 Oct 1 15 29 13 27 Nov Dec 3−Month Treasury Bill 2−Year Treasury Securities 5−Year Treasury Securities 10−Year Treasury Securities Treasury Long−Term Average 1.61 1.66 1.65 1.62 1.55 1.56 1.64 1.64 1.47 1.28 1.20 1.20 1.21 2.02 2.12 2.01 1.93 1.76 1.78 2.07 2.14 1.77 1.84 1.84 1.99 2.06 3.03 3.08 2.93 2.79 2.72 2.71 3.15 3.22 2.90 2.95 2.93 3.13 3.25 3.98 4.00 3.84 3.73 3.69 3.68 4.11 4.21 4.00 4.00 3.94 4.08 4.18 4.96 4.98 4.87 4.83 4.86 4.87 5.19 5.27 5.16 5.12 5.00 5.08 5.17 Current data appear in the Federal Reserve Board’s H.15 release, except for the intended federal funds rate. * Averages of rates available. ** Seven−day averages for week ending two days earlier than date shown. Prepared by the Federal Reserve Bank of St. Louis Money Stock (M2) and Money Zero Maturity Averages of Daily Figures 6200 Seasonally Adjusted Billions of Dollars Billions of Dollars 6200 M2 2002 Oct 14 21 28 Nov 4 11 18 6000 Billions 5748.3 5756.6 5781.6 5781.7 5799.1 5829.9 6000 MZM 5800 5800 5600 5600 M2 MZM 5400 2002 Oct 14 21 28 Nov 4 11 18 5400 Billions 5985.8 5998.9 6019.0 6022.2 6062.2 6176.9 5200 5200 1 15 29 12 26 10 24 Oct Nov 2001 Dec 7 21 Jan 4 18 4 Feb 18 Mar 1 15 29 13 27 10 24 Apr May 8 22 Jun Jul 2002 5 19 Aug 2 16 30 14 28 11 25 Sep Oct Nov 9 23 Dec M2 is the sum of M1, savings (including money market deposit accounts), small time deposits and retail money funds. Current data appear in the Federal Reserve Board’s H.6 release. Money Stock (M2) To the average of four weeks ending: Compounded annual rates of change, average of four weeks ending: 11/19/01 2/18/02 4/15/02 5/20/02 6/17/02 7/15/02 8/19/02 4/15/02 3.8 5/20/02 4.7 2.4 6/17/02 5.4 4.0 7/15/02 6.1 5.4 9.9 10.5 8/19/02 6.9 6.8 10.7 11.4 12.2 9/16/02 6.8 6.7 9.9 10.2 10.3 9.8 10/21/02 6.9 6.8 9.4 9.5 9.5 8.9 6.8 11/18/02 7.4 7.5 10.0 10.2 10.3 10.1 9.0 9/16/02 9.3 10.4 Prepared by the Federal Reserve Bank of St. Louis Savings and Small Time Deposits Averages of Daily Figures Seasonally Adjusted 1300 Billions of Dollars Billions of Dollars 2850 Small Time 2002 Oct 14 21 28 Nov 4 11 18 1200 1100 Billions 900.4 898.4 896.8 895.7 897.6 899.8 2750 2650 1000 2550 Small Time (left scale) 2450 900 Savings 800 2002 Oct 14 21 28 Nov 4 11 18 Savings Deposits (right scale) 700 2350 Billions 2706.9 2711.1 2710.1 2731.7 2756.8 2776.3 2250 2150 600 1 15 29 12 26 10 24 Oct Nov 7 Dec 21 4 Jan 18 4 Feb 18 1 15 29 13 27 10 24 Apr Mar May 8 5 Jul Jun 2001 22 19 2 Aug 16 30 14 28 11 25 Oct Sep Nov 9 23 Dec 2002 Savings deposits and small time deposits are at all depository institutions. Fix Large Time Deposits and Retail Money Funds Averages of Daily Figures Seasonally Adjusted 1200 Billions of Dollars Billions of Dollars Large Time 2002 Oct 14 21 28 4 Nov 11 18 1100 1200 Retail Money Billions 827.2 825.9 834.3 837.0 822.7 809.8 2002 Oct 14 21 28 4 Nov 11 18 Billions 945.9 947.7 955.4 952.3 952.0 956.5 1100 1000 1000 Retail Money 900 900 800 800 Large Time 700 700 1 15 29 12 Oct 26 10 24 Nov 2001 Dec 7 21 Jan 4 18 Feb 4 18 Mar 1 15 29 13 27 10 24 Apr May 8 22 Jul Jun 5 19 Aug 2 16 30 Sep 14 28 11 25 Oct Nov 9 23 Dec 2002 Large time deposits and retail money funds are at all despository institutions. Large time deposits are those issued in denominations of $100,000 or more. Retail money funds were originally called general purpose and broker/dealer money market funds. Prepared by the Federal Reserve Bank of St. Louis Fix Total Borrowings From Federal Reserve Banks Averages of Daily Figures 1.6 Billions of Dollars Billions 0.120 0.101 0.422 0.308 0.370 0.057 2002 Oct 23 30 Nov 6 13 20 27 1.4 1.2 Billions of Dollars 1.6 1.4 1.2 1.0 1.0 0.8 0.8 0.6 0.6 0.4 0.4 0.2 0.2 0.0 0.0 3 17 31 14 28 12 26 Oct Nov Dec 9 23 6 Jan 20 6 Feb 20 3 17 1 Apr Mar 15 29 12 26 10 24 May Jul Jun 2001 7 21 4 Aug 18 2 16 30 13 27 11 25 Oct Sep Nov Dec 2002 Borrowings include seasonal, adjustment and extended credit. Fix Bank Loans and Credit All Commercial Banks in the United States * Seasonally Adjusted 6400 Billions of Dollars Billions of Dollars Bank Credit 2002 Oct 9 16 23 30 Nov 6 13 6200 6000 5050 Loans & Leases Billions 5771.5 5747.0 5765.4 5788.0 5841.6 5880.5 2002 Oct 9 16 23 30 Nov 6 13 Billions 4118.7 4135.6 4129.4 4124.1 4144.4 4161.4 4850 4650 5800 4450 Bank Credit (left scale) ** 5600 4250 5400 4050 Loans and Leases (right scale) 5200 3850 3 17 31 14 Oct Nov 28 12 26 Dec 9 23 Jan 6 20 Feb 6 20 Mar 3 17 Apr 2001 1 15 29 12 26 10 May 24 Jul Jun 7 21 Aug 4 18 Sep 2 16 30 13 27 11 25 Oct Nov Dec 2002 Current data appear in the Federal Reserve Board’s H.8 release. * Includes foreign−related institutions ** Includes loans and leases and securities Prepared by the Federal Reserve Bank of St. Louis Fix Commercial Paper of Nonfinancial Companies Not Seasonally Adjusted 350 Billions of Dollars 2002 Oct 23 30 Nov 6 13 20 27 300 Billions of Dollars Billions 162.1 161.4 162.3 159.3 159.6 158.4 350 300 250 250 200 200 150 150 100 100 3 17 31 14 28 12 26 Oct Nov Dec 9 23 6 Jan 20 6 Feb 20 3 17 1 Apr Mar 15 29 12 26 10 24 May Jul Jun 2001 7 21 4 Aug 18 2 16 30 13 27 11 25 Oct Sep Nov Dec 2002 Current data appear at www.federalreserve.gov/releases/cp/table1.htm. Fix Commercial and Industrial Loans Seasonally Adjusted 1175 Billions of Dollars Billions of Dollars All Banks 2002 Oct 9 16 23 30 Nov 6 13 1150 1125 1100 650 Large Banks Billions 969.6 975.1 973.2 971.3 971.1 969.4 2002 Oct 9 16 23 30 Nov 6 13 Billions 481.4 485.3 483.4 482.3 481.1 479.1 625 600 575 1075 550 1050 525 Large Banks (right scale) ** 1025 500 1000 475 All Banks (left scale) * 975 450 950 425 3 17 31 Oct 14 28 12 Nov 2001 Dec 26 9 23 Jan 6 20 Feb 6 20 Mar 3 17 Apr 1 15 May 29 12 26 10 24 Jul Jun 7 21 Aug 4 18 Sep 2 16 Oct 30 13 27 11 Nov 25 Dec 2002 Current data appear in the Federal Reserve Board’s H.8 release. * Includes foreign−related institutions. ** Weekly reporting, domestically chartered banks. Fix Prepared by the Federal Reserve Bank of St. Louis Trade−Weighted Exchange Rate Indexes Averages of Daily Figures 120 March 1973=100 2002 Oct 23 30 Nov 6 13 20 27 115 January 1997=100 Major 101.6 100.9 100.0 99.1 99.8 100.4 2002 Oct 23 30 Nov 6 13 20 27 Broad Index (right scale) Broad 127.8 127.3 126.6 125.9 126.3 126.6 140 135 110 130 105 125 Major Currency Index (left scale) 100 120 95 115 3 17 31 14 28 12 26 Oct Nov 2001 Dec 9 23 Jan 6 20 Feb 6 20 Mar 3 17 Apr 1 15 29 12 26 10 24 May Jun Jul 7 21 Aug 4 18 Sep 2 16 30 13 27 11 25 Oct Nov Dec 2002 The major currency index (MCI) comprises of 7 currencies. The broad index comprises the MCI plus 19 additional currencies. Further details may be found at www.federalreserve.gov/releases/h10/summary/. Prepared by the Federal Reserve Bank of St. Louis