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Zmf

RESEA!
Federli
of St. Louis

lancial Data
ctober 12, 1989

THE WEEK'S HIGHLIGHTS:
is

Civilian employment fell at a 0.3 percent annual rate over the past
three months, following a 1.4 percent rate of increase from March
to June, and a 3.1 percent rate of growth over the six months ending
last March.

r0

Unemployment was 5.3 percent of the civilian labor force in
September, the same as in June and little changed from the 5.4
percent rate in September 1988.

is

Consumer credit rose at a 6 percent annual rate in August, following
a decline at a 0.9 percent rate in July. From January to June,
consumer credit rose at a 6.8 percent rate.

is

Commercial and industrial loans at weekly reporting large commercial
banks fell in September, reaching $318 billion in the week of
September 27, slightly below the average level in July.

THE
FEDERAL
A KEMEKVE
RANK ol'

or ST. UH LS

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

5 10

ADO

SEP

OCT
1980

2 16 90 14 20 II 25

NOV

DEC

JAN

6 22

FEB

6 22

5 19

MAR

5 17 51

MAY
19

BILLIONS OF DOLLARS
-------------------- ----------- 2®6

14 28 12 26

JUN

JUL

9

AUG

6 20

4 16

SEP

OCT

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDINGt OCTOBER 4, 1969
THE ADJUSTED MONETARY BASE IS THE SUM OF
------------- TAWS. CURRENCY IN CIRCUT----------- *
BY INSTITUTIONS) AND AN ,
THE ADJUSTED MONETARY l
A DETAILED DESCRIPTION OF

UAL INSTITUTIONS AT FEDERAL
! AND IN THE VAULTS OF ALL
RATIO CHANGES.
THE MAJOR
JA ARE COMPUTED BY THIS
LABLE FROM THIS BANK.

RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING:
10/5/88

12/28/88

3/8/89

4/5/89

5/3/89

5/31/89

6/28/89

4.1
4.4
4.1
3.6
3.4
3.4
3.1
3.5

4.9
4.2
3.4
3.2
3.2
2.9
3.4

3.9
2.6
2.4
2.6
2.3
3.0

0.9
1.2
1.9
1.6
2.6

0.9
1.9
1 .6
2.7

2.7
2.1
3.3

2.2
3.8

8/9/89

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDINGt
3/ S/89
4/ 5/89
5/ 5/89
5/31/89
6/28/89
8/ 9/89
9/ 6/89
10/ 4/89


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

4.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

BILLIONS
777.4
774.5
782.7
789.3

I

IS » 12 26 10 24

7 21

5 10

NOV

DEC

2 16 30 IS 27 19 27

FEB

MAR

10 24

« 22

5 19

S 17 SI

APR

M 28 II

AUG

28

0 29

SEP

LATEST DATA PLOTTED WEEK ENDINGt OCTOBER 2, 1989
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.B RELEASE.
DEPOSITS^AND**TRAVELERS^^CHECKS? BY THE

PUIUC’ DEMAND DEP°8,TS’ °THER

MONEY STOCK < Ml )
COMPOUNDED ANNUAL RATES OF CHANGE
10/3/88

1/2/80

1.0
0.2
-0.2
-1 .9
-2.2
-1.1
-1 .0
-0.0

-2.7
-2.8
-4.9
-4.8
-2.9
-2.5
-1.1

2/27/80

AVERAGE OF FOUR WEEKS ENDING:

4/3/80

5/1/80

-8.0
-6.9
-3.0
-2.5
-0.3

-8.6
-3.0
-2.3
0.2

8/5/80

7/3/80

7/31/89

2.8
1.6
4.0

4.4
6.9

5.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/27/89
4/ 3/80
5/ 1/80
6/ 5/80
7/ 3/89
7/31/80
0/ 4/89
10/ 2/80


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

-3. 1
-6.3
-5.9
-3. 1
-2.6
-0.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIER-!/
CURRENCY COMPONENT OF MONEY STOCK v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
3.0 -------------!---------- ,------------- 1---------1989
JUL.
AUG.
2.9

SEP
OCT

24
7
21
4
18
2

RATIO
3.0

RATIO
2.659
2.685
2.963
2.677
1:S

_

2.9

Ml Ml LTIPL IER

2.8

V

f

2.6

111. JJJ.
• 22
AUG

5 19
SEP

1111
3 17 31

OCT

1 1 1
14

NOV

1 1 1
1111
12 29 9 23
DEC
JAN

_LLL jj_l jjj. JJJJ- jjj.
9 20
FEB

9 20
MAR

3 17
APR

1

11 n jjj. jjj.
21
19
JUL
AUG
SEP

ixuL

15 29 12 29 10 24

MAY

JUN

19 30
OCT

LATEST DATA PLOTTED TOO WEEKS ENDING. OCTOBER 2, 1989
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

COfcf’OUftDED ANNUAL RATES

220

vbiuocn c, ivowENDING)
THE FOUR tilEEKS rnvM
—

JUL. 31
CURRENCY

— JAN.

JM

BILLIONS
219.0
218.8
220.1

1

15 29 12 29 10 24

7 21

5 19

NOV

DEC

2

30 13 27 IS 27 10 24

FEB

MAR

0 22

5 19

n 17 31 in29 II
ill 14 In
3

25

9 23

APR

1988

1989

LATEST DATA PLOTTED WEEK ENDING. OCTOBER 2, I960
1/ RATIO OF MDTCY STOCK (Ml ) 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 BAM( OF ST. LOUIS

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

lfifift
AUG.
SEP.

billions of

dollars

BILLIONS

28
548.0
556.6
553.8

555.0

561 .0

I

IS 20 12 26 10 24

7 21
NOV

5 10
DEC

2 16 SO IS 27 19 27 10 24
FEB
MAR
APR

6 22

9 10

9 17 91

14 28 II 25
AUG

0 29

SEP

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 2. 1980
TOTAL|CHECKABLE(DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
10/3/88

1/2/89

2/27/89

-6. 1
-5.7
-8.4
-8.4
-5.7
-5.0
-3.2

-5.9
-10.0
-9.6
-5.7
-4.9
-2.6

4/3/89

5/1/89

6/5/89

7/3/89

7/31/89

2.4
1.0
4.0

5.4
8.1

5.5

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/27/89
4/ 3/89
5/ 1/89
6/ 5/89
7/ 3/89
7/31/89
9/ 4/89
10/ 2/89

-0.9
-2. 1
-2.4
-4.7
-5.0
-3.4
-3.2
-1.9


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

-11.7
-10.7
-5.3
-4.4
-1.7

-13.2
-5.6
-4.4
-1.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

12.0

II.0

10.0

9.0

8.0

MUNICIPAL
BONDS
7.0

5 10

2 16 90 14 28 II 23
OCT
NOV
1988

0 23

0 20
JAN

3 17
FEB

3 17 31 14 20 12 20 0 23
APR
MAY
1989

7 21
JUL

I IS 20 13 27
AUG

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt OCTOBER IS. 19

1989
AUG.

SEP.

OCT.

4
11
18
25
1
8
15
22
29
6
13 x
20
27

90 DAY
CD'S

30-DAY
CG4MERCIAL
PAPER

90-DAY
BANKERS*
ACCEPTANCES

CORPORATE
AAA BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS m

8.35
8.56
8.76
8.76
8.79
8.78
8.71
8.74
8.88
8.91
8.63

0.57
8.77
8.87
8.85
8.88
8.87
8.83
8.84
8.92
8.90
8.70

8.15
8.41
8.57
8.58
8.57
8.57
8.53
8.55
8.70
8.70
8.46

8.81
8.82
8.99
9.02
9.05
9.02
8.98
8.98
9.03
9.02
8.98

9.77
9.82
9.90
9.92
9.96
9.94
9.88
9.88
9.94
9.92
9.85

6.86
7.02
7.09
7. 15
7.16
7. 15
7.16
7.33
7.40
7.27
N. A.

NOTEt
CURRENT DATA APPEAR IN THE BOARD OF ©OVERNORS* H.15 RELEASE.
K AVERAGES OF RATES AVAILABLE
« BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA
N.A. - NOT AVAILABLE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES

PERCENT

TREASURY

PERCENT
—I II.0

■CUR I TIES

DISCOUNT RATE

3 19

2 19 30 14 26 II 23

OCT

NOV

9 23

0 20

3 17

JAN

FEB

3 17 31

14 29 12
APR

9 23

MAY

7 21

4 19

JUL

AUG

I

IS 29 13 27

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt OCTOBER 13,

1989
AUG.

4
1 1
18
25
SEP.
1
8
15
22
29
OCT.
6
13 *
20
27

1989.

FEDERAL
FUNDSm

3-MONTH
TREASURY
BILL

8-MONTH
TREASURY
BILL X*X

l-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

8.95
8.98
9.04
9.01
8.96
8.96
8.96
9.05
9.02
9. 18
8.93

7.71
7.92
7.95
7.98
7.90
7.82
7.60
7.73
7.84
7.76
7.67

7.35
7.70
7.83
7.85
7.88
7.87
7.64
7.64
7.79
7.92
7.60

7.20
7.56
7.72
7.78
7.72
7.68
7.51
7.61
7.78
7.76
7.51

7.64
7.99
8.20
8.26
8.26
8. 18
8.07
8. 12
8.32
8.21
8.02

7.97
8. 18
8.30
8.33
8.33
8.25
8.23
8.28
8.41
8.27
8. 15

NOTEt
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 RELEASE EXCLUDING LONG-TERM TREASURY
* AVERAGESU0F1 RATES^AVAILABLE0^07^ BY TH,S ®ANK'
TREASURY 0ILL YIELDS ARE ON A DISCOUNT BASIS.

SLsS5l!fTDofiYA^iE?D'iiS(^K. E,*IN0 ™°DAYS «*LI« THAN MTE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8

MONEY STOCK ( M2 )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

BILLIONS
3150

3125

3100

I

15 29 12 26 10 24

7 21

5 10

NOV

DEC

2 16 50 15 27

FEB

l» 27 10 24

MAR

0 22

S 10

9 17 91

14 20 II

25

0 29

APR

LATEST DATA PLOTTED OEEK ENDING* OCTOBER 2, 1089
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE
M2 IS THE SUM OF Ml. OVERNIGHT RPS ISSUED BY ALL COMMERCIAL BANKS, OVERNIGHT EURODOLLARS 1
TO U.S. RESIDENTS B ------------- --------------------------. --------- ------------- ------------- --------------- ----------------BANKS, MONEY MARKET DEPOSIT ACCOUNTS, SAVINGS
BROKER/DEALER MONEY MARKET MUTUAL FUW8. FOR I
SMALL TIME DEPOSITS
DETAIL, SEE THE H.C

MONEY STOCK (M2)
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING*
10/3/88

1/2/89

2/27/89

4/3/89

5/1/89

8/5/89

7/3/89

7/31/89

2.3
5.2
5.6
6.2

9.7
8.6
8.7

9.0
9.1

7.8

TO THE AVERAGE
OF FOUR WEEKS
ENDING*
2/27/89
4/ 3/89
5/ 1/89
8/ 5/89
7/ 3/89
7/31/89
9/ 4/89
10/ 2/89

2.8
2.9
2.6
2.0
2.5
3.4
3.7
4.1


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

1.3
1 . 1
0.5
1.5
2.8
3.4
4.0

2.1
0.7
2.2
3.9
4.4
5.0

-0.8
1 .7
4.0
4.7
5.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ALL DEPOSITORY INSTITUTIONS
TOTAL TIME DEPOSITS 1/
LARGE TIME DEPOSITS 2/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

2140

2110

2140
COMPOUNDED ANNUAL RATES
ur FOUR *EEKS ENDING
THE wwwc. nrtiwot vr
uviuocn c. 1 vow rnuM
THE FOUR WEEKS ENDING:
JUL.

31,
3,
5,
I,

TOTAL TIME DEPOSITS

1989
1989
1989
1989

2,

2110

1989

2060

-LSSfi BILLJOHS
UG.
EP.

28
4

2100.7
2100.2
101.2

1 I 1 1 1 I I I I L .11 I 1 1 I I
LATEST DATA PLOTTED

ENDING: OCTOBER 2, I960

BILLIONS OF DOLLARS
IM

BILLIONS OF DOLLARS
590

BILLIONS

565.3
564.7
564.8
OCT.

2

580

LARGE TIME DEPOSITS

570

560.4
557ie

560

550

540

530

520

1 15 29 12 26 10 24

7 21
NOV

5 19
DEC

2 16 50 13 27 13 27 10 24

•

5 19

9 17 51 14 26 II 25

9 25

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 2, 1989
1/ TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TlliE DEPOSITS.
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 6100,000 OR MORE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
5.5 c---------- 1---------- 1------

BILLIONS OF DOLLARS

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDING* OCTOBER II, IOSS
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

ADJUSTMENT + SEASONAL

3 17 51

14 20 12 26

9 25

7 21

4 19

DEC

JAN

15

1

15 29 12 26 10 *4

7 21

5 10

2 15 SO l» 27 11 »

SEP

FEB

OCT

LATEST DATA PLOTTED WEEK ENDING* OCTOBER 11, 1900


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
135 r=---------- ,---------- .-----

OCT.

3 17 31

AUG

BILLIONS OF DOLLARS
---------------------------- Hi 135

i
128,347

4

14 26 12 26

SEP

OCT
15

9 23

7 21

4 18

1

DEC

NOV

JAN

FEB

IS

LATEST DATA PLOTTED WEEK ENDINGi OCTOBER 4,

1

15 29

MAR

12 28 10 24

APR

MAY
10

7 21

3 19

JUN

JUL

2

18 30 13 27 11

AUG

SEP

25

OCT

1988

* DASHED LINE REPRESENTS DATA USING AN OLD REPORTING PANEL AND IS NOT COMPARABLE TO CURRENT DATA.

BUSINESS LOANS u
(COMMERCIAL AND INDUSTRIAL)
WEEKLY REPORT ING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
330 ------------- ,---------- ,------

BILLIONS OF DOLLARS
------------------------------- 330

COMPOUNDED ANNUAL RATES
“ OF CHANGE. AVERAGE OF
“ THE FOUR WEEKS ENDING
- SEPTEMBER 27. 1989 FROM
- THE FOUR WEEftS ENDING:
“ JUL. 26,1969
JUN. 28, 1989
MAY
24,1989
APR. 26,1989
MAR. 29,1989
DEC. CO, 1988
UCb. 28, I woo
SEP. 28, 1988

h
—
_

3.6
7.5

6.4“

7.7
8.0
8.0

~
AUG. 23
SEP.

3 17 31

14 28 12 26

SEP

OCT

8 23

322.862

6

li.J 1 1 I I 1 I I 11 I I 1 I

7 21

4 16

1

OEC

JAN

FEB

13

I

7 21

8 19

JUN

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 27,

18 29 12 26 10 24

JUL

2

16 SO 13 27

SEP

II 25

OCT

1989

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


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

306

DOLLAR'S TRADE-WEIGHTED EXCHANGE INDEX
AVERAGES OF DAILY FIGURES

1973-100

1873-•100
1 18

114
103.3
102.5

110
100.1
106

102

98

94

90

3 17 31

14 20 12 20
SEP
OCT

9 23

7 21
DEC

4 10
JAN

I 15
FEB

LATEST DATA PLOTTED WEEK ENDING: OCTOBER II,
NOTE*

IS 29 12 20 10 24

7 21

5 19

2 10 90 13 27 II 25

JUN

JUL

SEP

OCT

1980

CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR’S H.10 RELEASE.

DATA ARE WEIGHTED AVERAGES OF THE FOREIGN-CURRENCY PRICE OF THE U.S. DOLLAR, COMPUTED USING
10 INDUSTRIAL COUNTRY CURRENCIES.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0