Full text of U.S. Financial Data : October 21, 1983
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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 http://fraser.stlouisfed.org 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. http://fraser.stlouisfed.org 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 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 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. http://fraser.stlouisfed.org 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. http://fraser.stlouisfed.org 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 http://fraser.stlouisfed.org 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. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS