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U:S. Financial Data
October 21,1983

erve Bank of St. Louis
LIBRARY
PCT

%

5 1913
During periods of increasing loan demand, banks are able
to attract loanable funds by issuing large time deposits. When loan
demand levels off or declines, banks have less incentive to issue
these deposits. The role of large time deposits as a source of
loanable funds contributes to the similarity in the movements of
these deposits and business loans.
From mid-December 1982 to mid-March 1983, the usual
relationship between large time deposits and business loans was
obscured by the effects of financial deregulation. Following the
introduction of money market deposit accounts (MMDAs) in
mid-December 1982, deposits shifted from large time deposits at
commercial banks into the new MMDAs (see chart on page 12).
The table below shows that large time deposits at all commercial
banks fell $40 billion between mid-December and mid-March,
despite an increase of about $3 billion in business loans at large
weekly reporting commercial banks.
MMDA balances at commercial banks increased
dramatically until mid-March 1983. Since then, they have grown
much more slowly. As a result, large time deposits at commercial
banks and business loans have again moved together.
•—Donald M. Brown
Changes in Business Loans and Large Time Deposits
(billions of dollars, seasonally adjusted)
Business loans!/

Period!/
01/06/82
06/30/82
12/15/82
03/16/83
1/

2/
V

-

06/30/82
12/15/82
03/16/83
10/12/83

Large time deposits!/

20.3
3.0

$ 19.2
3.8
-40.0
-4.8

2.8

-3.6

Four-week averages ending on dates shown.
Large weekly reporting commercial banks.
All commercial banks.

Views expressed do not necessarily reflect official positions of this Bank or 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

200

SEP.

14

198

196.7

197.4

96.6

196

197.9
196.0

194

197.3

192
190
188
186
184
182

174
4

IS

I

15 20 19 27 10 24

OCT

NOV

8 22

5 10

2 IS

JAN

FEB

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 19.

2 16 30 19 27

APR

II

25

8 22

6 20

3 17 31

MAY

14 28 12 20

SEP

OCT

1983

2KL£?,JUfJI!LM2Nl!A5I BASE CONSISTS OF: M ) RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT
FEDERAL RESERVE BANKS. (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE
VAULTS OF ALL DEP0SIT6RY INSTITUTIONS). AND (3 ) AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO
CHANGES.
THE MAJOR SOURCE OF THE ADJUSTED MONETARY BASE IS FEDERAL RESERVE CREDITL
DATA
«FcCcifEyTf2.eY«J£LLS BANK* A DETAILED DESCRIPTION OF THE ADJUSTED MONETARY BASE IS AVAIL­
ABLE FROM in15 BArR.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF FOUR WEEKS ENDING:
10/20/82
1/19/83 3/16/83 4/20/83 5/18/83 6/22/83 7/20/83 8/17/83
TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/16/83
4/20/83
5/18/83
6/22/83
7/20/83
8/17/83
9/21/83
10/19/83

12.2
1 1.6
11.1
11.5
10.6
10.0
9.6
9.2


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Federal Reserve Bank of St. Louis

14. 1
12.6
13.0
1 1.3
10.3
9.8
9.3

8.5
10.6
8.8
7.9
7.7
7.3

1 1.4
8.6
7.6
7.3
6.9

9.0
7.5

7,2
6.8

3.4
4.6
4.6

5.5
5.2

5.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

i

ADJUSTED RESERVES
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

ILL IONS OF DOLLARS

BILLIONS OF DOLLARS
--------------------------------- 56

BILL I ON?
54.6
53.9
54.4
53.0
53.8
54. 1

— OCT.

4 is

I

15

13 27

OCT

10 24

NOV

8 22

5 IS

2

JAN

FEB

16

2

16 30 13 27

APR

II

25

8 22

6 20

3

17 31

MAY

14 28 12 26

SEP

OCT

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 12, 1983
ADJUSTED MONETARY BASE (RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL RESERVE
BANKS PLUS CURRENCY IN CIRCULATION) LESS CURRENCY HELD BY THE NONBANK PUBLIC. "CdC"yC

ADJUSTED RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
10/13/82

1/12/83

3/9/83

4/13/83

5/11/83

6/15/83

10. 1
6.9
5.2
3.6
1.5

1 1.3
7.7
5.0
2.2

0.0
-0.7
-2.8

7/13/83

8/10/83

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/ 9/83
4/13/83
5/11/83
6/15/83
7/13/83
8/10/83
9/14/83
10/12/83

17.3
15.9
13.3
14.4
12.8
1 1.6
10. 1
8.5


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

21.1
15.1
16.5
13.8
1 1 .9
9.8
7.7

4.4
10.2
7.8
6.4
4.8
2.9

-1.1
-3.6

-5.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY STOCK ( Ml )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

525

BILLIONS
518.4
515.6
517.5
518.4
517.2
519.6

E OCT.

515
510
505
500
495
490
485
480
475
470
465
460

445
I I I I
I

19 28

13 27

OCT

10 24

NOV

6 22

5 19

2

JAN

FEB

16

2

I I II

16 50 13 27

APR

II

25

8 22

6 20

3

17 31

14 28

SEP

MAY

12 26

OCT

1982
LATEST DATA PLOTTED WEEK ENDING: OCTOBER 12,

1983

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.
Ml CONSISTS OF CURRENCY HELD BY THE NONBANK PUBLIC PLUS COMMERCIAL BANK DEMAND DEPOSITS
HELD BY THE NONBANK PUBLIC (EXCLUDING THOSE HELD BY FOREIGN BAhKS AND OFFICIAL INSTITUTIONS)
AND OTHER CHECKABLE DEPOSITS OF ALL DEPOSITORY INSTITUTIONS PLUS TRAVELERS* CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE
10/13/82

1/12/83

3/9/83

AVERAGE OF FOUR WEEKS ENDING:

4/13/83

5/11/83

6/15/83

7/13/83

8/10/83

16.3
12.3
12.5
8.8
8.5

16. 1
15.2
9.9
9.3

8.3
3.9
4.5

4.0
4.8

1.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/ 9/83
4/13/83
5/11/83
6/15/83
7/13/83
8/10/83
9/14/83
10/12/83

15.7
14.4
12.9
14.9
13.7
13.6
1 1.8
1 1.4


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

16.3
13.3
16.3
14.2
14. 1
11.5
1 1 .0

6.6
13.6
1 1.3
1 1 .6
8.8
8.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY MULTIPLIERi/
CURRENCY COMPONENT OF MONEY STOCK*/
AVERAGES OF DAILY FIGURES
StASUNALLY ADJUSTED

RATIO
1983
SEP.

RATIO

RATIO
7

2.631

Ml MULTIPLIER

LATEST DATA PLOTTED MEEK ENDINGt OCTOBER 12, 1983
BILLIONS OF DOLLARS
H6 --------- 1------------r—

billions of dollars

-------- --------------------

'OUNDED ANNUAL RATES
CHANGE. AVERAGE OF
four Weeks ending

JUN.
i

I 0,
15,

1900
1983

ii,l 900

APR.

13,
1C,

CURRENCY

1983

JAM.

I 900

OCT.

13,

1982

im

BILL IONS
142.4

I I I 1 I I I I 1 I I 1 I I I I
4 It

I

18 29 IS 27

OCT

10 24

NOV

9 22

8 19

2

JAN

FEB

18

2 16 SO IS 27

APR

II

25

MAY

8 22

6 20

3

17 31

14 28 12 26

SEP

OCT

LATEST DATA PLOTTED MEEK ENDINGt OCTOBER 12, 1983
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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

146

6
YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
17.0

CORPOR
Aaa BO

12.0

PRIME BANK
LOAN RATE
MUNICIPAL
BONDS

I I I I
I IS 20 12

10 24

7 41
JAN

4 16
FEB

4 18
MAR

1 IS 20 IS 27 10 24
MAY
JUN
1983

1982

6 22

S 10

2 16 SO 14 28

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* OCTOBER 21, 1983

1983
5
12
19
26
SEP.
2
9
16.
23
30
OCT.
7
M
21 X
28
|
AUG.

90 DAY
CD'S
9.82
9.99 .
9.78
9.49
9.73
9.54
9.43
9.34
9. 17
9. 13
9.22
9.11

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS K*

9.42
9.59
9.46
9.20
9.34
9.33
9.28
9. 16
8.97
9.01
9.09
8.96

9.70
9.87
9.62
9.40
9.58
9.41
9.31
9.20
9.08
9.02
9. 13
8.97

12.62
12.71
12.40
12.32
12.54
12.47
12.40
12.31
12.22
12.20
12.22
12.22

13.64
13.75
13.63
13.55
13.65
13.60
13.55
13.51
13.49
13.44
13.42
13.43

9.74
9.85
9.70
9.59
9.75
9.67
9.62
9.42
9.46
9.49
9.67
N. A.

m AVERAGES OF RATES AVAILABLE.

XBH.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 ENDED FRIDAY

PERCENT
16.0

5-Y
TREASURY SIECURITIES

RATE

3-MI

TREASUI

AUG

SEP

NOV

DEC

JAN

4 18
FEB

4 16
MAR

1982

I 19 29 19 27 10 24
MAY
JUN
1983

9 22

9 19

2 16 90 14 28

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: OCTOBER 21,

1983
AUG,

5
12
19
26
SEP.
2
9
16
23
30
OCT.
7
14
21 x
28

1983

FEDERAL
FUNDS XX

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL XXX

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

9.59
9.66
9.67
9.41
9.44
9.53
9.54
9.48
9.04
10.00
9.46
9.36

9.41
9.52
9.35
9. 15
9.26
9. 13
9.08
8.94
8.75
8.62
8.79
8.52

9.56
9.70
9.55
9.29
9.53
9.40
9.14
9.06
8.84
8.92
8.97
8.79

9.71
9.80
9.50
9.37
9.64
9.47
9.33
9. 15
9.04
8.93
9. 10
8.88

11.74
11.89
11.49
11.34
11.73
11.56
11.46
11.37
11.22
11.15
11.36
1 1.21

11.92
12.01
11.65
11.54
11.89
11.73
11.65
11.56
11.43
11.37
11.62
11.50

X AVERAGES OF RATES AVAILABLE.
«K SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.15 RELEASE.
mat new issue rate
RATES ON LONG-TERM TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST. LOUIS.
TREASURY BILL YIELDS ON DISCOUNT BASIS.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

8
TOTAL CHECKABLE DEPOSITS!/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
380 c------- ,------------,-----

ISfii

BILLIONS OF DOLLARS
------------------------- ZI 380

BILLIONS
371.3
368.0
369.8
370.0
371 .0

4 It

I

AUG

SEP

IS 28 19 27 10 24

OCT
1982

NOV

• 22

DEC

5 19

2 IS

JAN

FEB

2

IS 90 19 27

MAR

APR

II

MAY

8 22

JUN
1983

8 20

JUL

9 17 91

AUG

14 28 12 20

SEP

OCT

LATEST DATA PLOTTED SEEK ENDINGi OCTOBER 12, 1983
1/ DEMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITORY INSTITUTIONS

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE
10/13/82

1/12/83

3/9/83

AVERAGE OF FOUR WEEKS ENDING:

4/13/83

5/11/83

6/15/83

7/13/83

18.3
13.5
14.0
8.9
8.2

19.4
18.3
10.7
9.5

9.4
2.8
3.2

2.5
3.2

8/10/83

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/ 9/83
4/13/83
5/11/83
6/15/83
7/13/83
8/10/83
9/14/83
10/12/83

18.2
16.0
13.9
16.6
15.2
15.2
12.7
12. 1


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

17.4
13.4
17.8
15.4
15.5
12.0
11.2

4.5
14.3
11.7
12.5
8.6
8. 1

-2.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL TIME DEPOSITS 1/
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

850

850 pr
840

820

E-

BILL IONS

840
830

7

700.9
701.9
701 .8
702. 1
703.5
703. 1

820
810
800
790
780
770
760
750
740
730
720
710
700
690
680
670

I I I I
5

OCT

NOV

IS

JAN

2

16

2

I I I I

16 30 13 27

FEB

APR

II

25

I I I I

8 22

6 20

MAY

3 17 31

14 28 12 26

SEP

0

OCT

1983
LATEST DATA PLOTTED WEEK ENDINGi OCTOBER 12, 1983
1/ SAVINGS DEPOSITS PLUS SMALL TIME DEPOSITS PLUS LARGE TIME DEPOSITS

MMDAs, MMMFs and SUPER NOWs
(billions of dollars, not seasonally adjusted)
MMDAs
August
September

October

31
7
14
21
28
5
12

MMMFs 2/

\J

$364.7
366.2
366.8
366.7
367.4
369.6
368.6

3177.0
176.9
176.2
176.7
176.4
176.7
177.3

SUPER NOWs 3/
$33.5
34.7
34.8
34.5
33.8
35.1
35.9

1/ Money market deposit accounts at all depository institutions, effective 12/14/82.
£/ lotai money market mutual fund balances.
3/ NOW accounts at all depository institutions, requiring a $2,500 minimum balance
and eligible to earn more than 5.25 percent, effective 1/5/83.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10
SMALL TIME DEPOSITS^
COMMERCIAL BANK SAVINGS DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
460
450

—

440

BILLIONS OF DOLLARS

E

=— SFP

430
420
410
400

1983

7
14
—
21
=
28
— OCT.
5
12
=

=
336.6
337.7
338.5
339.3
342.

=

E
E

=

E

390

=____

380

=

=

370
360
350
340
330
320
310
300

TIME DEPOS

E
\

E

=

v
\

=

E
=

E

E
E

V
VV

E
E

=

E

E

=

E
5m

=
_LLLL 111 -LU

1 1 1 1 -LLL 111 1111 ■ LU. .1 U
0
LATEST DATA PLOTTED WEEK ENDINGt OCTOBER 12, 1983

1 1 1 1

BILLIONS OF DOLLARS
185 =-------,------------1-----

iaaa

1 1 1

nr

1 1 1 1

billions

SAVINGS DEPOSITS

1

19 29 19 27 10 24

OCT

440
430
420
410
400
390
380
370
360
350
340
330
320
310
300
0

BILLIONS OF DOLLARS
------------------------- =1 185

137.0
137.0
136.7
136.4
136.2

4 18

450

NOV

9 22

5 19

2 IS

2 IS 90 19 27 II 25

JAN

FEB

APR

0 22

9 17 91

MAY

1982

14 29 12 26

SEP

OCT

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 12, 1983
1/ COMMERCIAL BANK TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 9100,000.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

I

%

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
4.5 r=-------.------------i----1983 MILLIONS
SEP. 14
21
28
OCT. 5
12
19

4 10
AUG

BILLIONS OF DOLLARS
------------------------- =1 4.5

1148
2109
1281
1416
1274
577

ISEP 29 OCT 27 NOV 24 DEC22
15
13
10
8

5 19
JAN

2 16
FEB

2MAR 30 APR 27 MAY 25 JUN
10
13
11
0 22

1982

0 20

JUL

3 17 31

AUG

14 28 12 26

SEP

OCT

1983

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 19, 1983

BUSINESS LOANS 17
( COMMERCIAL AND INDUSTRIAL )

WEEKLY REPORT ING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
236 ----------1-------------1—

BILLIONS OF DOLLARS
236

“ AUG.
“JUL.
~ JUN.
~ MAY
- APR.

1983
1983
1933
1983
1983

“ OCT . 13.

982

-

-4.9
-1.3
-0.9
-0.6
-2.5
-2.0

:

TTT

10,
13,
15,
11,
13,

TTT

1
_ COMPOUNDED ANNUAL RA TES
_ OF CHANGE, AVERAGE 0 F
__THE FOUR WEEKS END IN G
_ OCTOBER 12, 1983 FROM
_ THE FOURWEEKS END ING:

r /V
r

A
/-A

3

_

-M
i

198

M l
in.
1111

10
AUG

HLLIOMS

-

SEP.

I 15 :
SEP

111
111
1111
13 27 10 24 6 22

i i i
5 19

i i i
2 16

OCT
1982

JAN

FEB

NOV

DEC

1111 JJJL 1 1 1
1 1 1 1
2 16 30 13 27 II 25 6 22

MAR

APR

MAY

JUN
1983

7
215,826
14
215,037
_
21
215,064
_
28
213,137 _
OCT. 5
214,129
12
214,996
................. .....................3

-LLL.1
6 20

JUL

3 17 31

AUG

14 28 12 26

SEP

OCT

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 12, 1983
1/ BUSI NESS LOANS INCLUDE BANKERS* ACCEPTANCES AND COhMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS OF 8750 MILLION OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

12
LARGE TIME DEPOSITS

ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
285
280
275
270
265
260
255
250
245
240
235
230
225

220
0
OCT

NOV

JAN

FEB

APR

MAY

SEP

OCT

LATEST DATA PLOTTED WEEK ENDI NOi OCTOBER 12. 1083
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF *100,000 OR MORE.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102