Full text of U.S. Financial Data : October 22, 1982

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U.S. Financial Data
Reserve Bank of St. Louis

October 22,1982

library

flpT 2 7 1982

The Board of Governors recently approved a
change in the way depository institutions will maintain
reserves with Federal Reserve Banks, effective February 2,
1984. The new procedure, known as contemporaneous
reserve accounting, will alter the time periods over which
depository institutions calculate and maintain required
reserves. The changes apply only to institutions reporting
their deposits on a weekly basis. Institutions that report
quarterly will continue to maintain reserves under the
current accounting system.
Under the present system, called lagged reserve
accounting, depository institutions must maintain reserves in
each week (the "reserve maintenance week") based on deposit
levels two weeks earlier (the "reserve computation week").
Under the new system of contemporaneous reserve
accounting, the reserve maintenance period is lengthened
from one week to two weeks (a period ending every other
Wednesday). Required reserves for transaction deposits will
be based on those deposits in the 14-day period ending two
days before the end of the current maintenance period (the
two-week period ending every other Monday). There will be,
therefore, only two days from the end of the period over
which a depository institution calculates its average
transaction deposits and the end of the period over which it
holds the required reserves based on those deposits.
Required reserves on other liabilities against which
reserves must be held (primarily non-personal time deposits
and Eurocurrency liabilities) will be based on average
liabilities over a 14-day period ending 30 days before the end
of the current maintenance period. Reserve requirements
are met by maintaining reserve balances at Federal Reserve
Banks and by holding vault cash. Vault cash counted as
reserves in the current maintenance period is the average
vault cash held during the 14-day period ending 30 days
before the end of the current maintenance period. Thus,
under the new system, there will continue to be lagged
accounting for non-transaction liabilities and vault cash.


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

—Michael E. Trebing

2
ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES

SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
184

BILLIONS
SEP.

15

179.9
179.6
180.3
81 .5

172

170

5

19

2

16

30

14

OCT

28

11

25

NOV

JAN

FEB

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 20,

APR

MAY

1982

THE ADJUSTED MONETARY BASE CONSISTS OF: (1) RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT
FEDERAL RESERVE BANKS. (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE
VAULTS OF ALL DEPOSITORY INSTITUTIONS), AND <3 ) 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 AVAIL­
ABLE FROM THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
10/21/81

AVERAGE OF FOUR WEEKS ENDING:

1/20/82

3/17/82

4/21/82

5/19/82

6/23/82

7/21/82

8/18/82

8.7
9.0
9.9
8. 1
8.0
7.8
7.4

8.6
10.2
7.5
7.5
7.3
6.9

1 1.8
7.5
7.5
7.3
6.8

6.4
6.8
6.7
6.1

3.0
4.3
4.2

7.0
6.0

5.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/17/82
4/21/82
5/19/82
6/23/82
7/21/82
8/18/82
9/22/82
10/20/82

8.8
8.5
8.7
9.4
8.2
8. 1
8.0
7.6


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

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

ADJUSTED RESERVES
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
52 ---------- ,------------- ,--------

BILLIONS OF DOLLARS
--------------------- ----------- 52

49.5
49.9
OCT.

49.4

I I I I
i

17

3

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 13,

17 31

H

28

12

26

1982

ADJUSTED, MONETARY BASE (RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL RESERVE
BANKS PLUS CURRENCY IN CIRCULATION) LESS CURRENCY HELD BY THE NONBANK PUBLIC.

ADJUSTED RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
10/14/81

1/13/82

3/10/82

4/14/82

5/12/82

12.7
9.7
10.7
10.4
8. 1
8. 1
8.0
6.2

13.4
14.3
13.0
9. 1
9.0
8.6
6.3

6. 1
7.0
3.0
3.9
4.4
2. 1

12.5
5.0
5.8
5.9
2.9

0.0
2.5
3.6
0.5

6/ 6/82

7/14/82

8/11/82

7.3
0.8

-2.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/10/82
4/14/82
5/12/82
6/16/82
7/14/82
8/11/82
9/15/82
10/13/82


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

-

.3
1.6
- 1.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF OOLLARS

BILLIONS OF DOLLARS
470

BILLIONS
465

461.9
460.6
460.9
458.0
465. I
468.3

460
455

450

445

440
435

430
425

420

5

19

2

16 30

M

OCT
1981

20

II

25

NOV

9

23

I

6 20

JAN

15

29

13 IT

FEB
1982

LATEST DATA PLOTTED WEEK ENDING'. OCTOBER 13,

1982

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 BANKS AND OFFICIAL INSTITUTIONS!
AND OTHER CHECKABLE DEPOSITS OF ALL DEPOSITORY INSTITUTIONS PLUS TRAVELERS' CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
10/14/81

AVERAGE OF FOUR WEEKS END 1NGi

1/13/82

3/10/82

4/14/82

5/12/82

6/16/82

7/14/82

8/11/82

4.4
4.6
4.2
2. 1
2.8
4.6
5.4

5.3
4.5
1.3
2.4
4.9
5.8

4.0
-0.2
1.6
4.8
6.0

-2.5
0.4
4.7
6.1

-1 . 1
5.3
7.0

12.4
12.5

14.8

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/10/82
4/14/82
5/12/82
6/16/82
7/14/82
8/11/82
9/15/82
10/13/82

9.6
8.7
8.3
7.5
5.7
5.8
6.9
7.3


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY MULTIPLIER 1/
CURRENCY COMPONENT OF MONEY STOCK v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
SAT IQ

Ml MULTIPLIER

LATEST DATA PLOTTED WEEK END ING: OCTOBER 13,

1982

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

-

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
-----THE FOUR WEEKS ENDING
OCTOBER 13
-----------------1982 FROM

JUN.

16,
12,
13,

1982
1982
1982
1982

OCT.

CURRENCY

1982

BILLIONS

SEP.
30:6
130! 9
130.9
131 !2
1111111
S

IS

2

16 SO

H 28 II

25

9 23

6 20

3

17

3

17 31

14 28

APR
1981
LATEST DATA PLOTTED WEEK ENDING: OCTOBER 13,

12 26

0 23

7 21

111111
1

15 29

13 27

MAY
1982

1982

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

6
YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY
22.0

22.0

21 .0

21 .0

20.0

20.0

18.0
90 DAY
CD'S

17.0

PRIME BANK
LOAN RATE

17.0
16.0
15.0

15.0
14.0

14.0

CORPORATE
Aaa bonds.

13.0
MUNICIPAL
BONDS**

AUG

SEP

NOV

DEC

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: OCTOBER 22,

1982
AUG.

6
13
20
27
SEP.
3
10
17
24
OCT.
1
8
15
22 ***
29

I9B2

90 DAY
CD'S

PRIME
COMMERCIAL
PAPER ***

PRIME
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONOS

MUNICIPAL
BONDS **

11.43
11.63
9.77
9.73
10.42
10.58
10.94
10.73
10.43
10.46
9. 16
9.05

11.33
11.50
9.68
9.48
10.48
10.72
11.00
10.62
10.35
10.23
8.83
8.78

11.23
11.23
9.66
9.59
10. 18
10.38
10.73
10.52
10.23
10. 15
8.96
8.84

14.22
14.14
13.48
13. 15
13.20
13.03
13.08
12.83
12.66
12.49
11.94
11.97

16.69
16.71
16.26
15.86
15.73
15.63
15.72
15.65
15.40
15.21
14.53
14.49

11.87
11.86
10.82
10.38
10.74
10.75
10.74
10.58
10.48
9.75
9.25
N. A.

* AVERAGES OF RATES AVAILABLE.
** BOND BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
**G« DATA ARE 4-MONTH COMMERCIAL PAPER RATES.
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
20.0

20.0

19.0

18.0

5-YEAR
\ TREASURY SECURITIES
FEDERAL FUNDS RATE
15.0
14.0

14.0

V k

^

Vy
DISCOUNT
RATE

1 I .0
10.0

3-MONTH
TREASURY BILL

LULL
NOV

DEC

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: OCTOBER 22,

1982
AUG.

SEP.

OCT.

6
13
20
27
3
10
17
24
1
8
15
22 *
29

FEDERAL
FUNDS X*
11.15
10.90
10. 1 1
9.04
10.15
10. 14
10.27
10.31
10. 12
10.77
9.60
9.53
_'
.i

1982

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
B 1LL XXX

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECUR1T1ES

9.80
9.70
7.88
7.50
8.31
8.34
8.03
7.53
7.52
7.93
7.48
7.49

10.67
10.94
9.82
8.99
9.75
9.61
9.70
9.44
9.20
9.23
7.73
7.76

11.13
11.06
9.71
9.68
10. 12
10.09
10. 12
9.77
9.51
9.24
8.19
8.21

13.62
13.59
12.53
12.38
12.54
12.43
12.47
12.11
11.74
11.29
10.46
10.44

13.08
13.02
12.17
12.04
12. 16
12.03
12.02
11.68
11.54
11.28
10.50
10.55

.

* AVERAGES OF RATES AVAILABLE.
** SEVEN-DAY AVERAGES FOP. WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.I5 RELEASE.
XXX 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

BILLIONS OF DOLLARS

327.4
325.8
325.8
322.7
329.8
332.7

1 1 I 1 1 1 1 1
5

19

2

16 30

14

28

II

25

9 23

6 20

3

17

LATEST DATA PLOTTED WEEK ENDING-. OCTOBER 13,

1982

1/ DEMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITORY INSTITUTIONS

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE.
10/14/81

1/13/82

AVERAGE OF FOUR WEEKS ENDING:

3/10/82

4/14/82

5/12/82

6/16/82

7/14/82

8/11/82

3.5
1.9
-1 .8
0. 1
3.5
4.8

0.9
-3.8
-1.0
3.5
5.1

-6.8
-2.2
3.6
5.4

-3.0
5.3
7.3

15.1
14.8

17.5

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/10/82
4/14/82
5/12/82
6/16/82
7/14/82
8/11/82
9/15/82
10/13/82

10.6
9.2
8.4
7.0
4.7
5. 1
6.6
7. 1


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

3.4
3.4
2.4
-0.3
0.9
3.5
4.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

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

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

845.0
845.4
844.9
845.6

I I I I
JAN

FEB

LATEST DATA PLOTTED WEEK ENDING*. OCTOBER 13.

1982

1/ SAVINGS DEPOSITS PLUS SMALL TIME DEPOSITS PLUS LARGE TIME DEPOSITS

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE,

AVERAGE OF FOUR WEEKS ENDING*.

10/14/81

1/13/82

3/10/82

4/14/82

5/12/82

6/16/82

7/14/82

8/11/82

8. 1
10.7
1 1.5
12.5
13.0
13.7
13.0
12.0

18.3
18. 1
18. 1
18.0
18.5
16.7
15.0

19.9
19.3
18.9
19.3
16,9
14.8

17.8
17.8
18.6
15.8
13.5

18.0
18.9
15.5
12.7

19.5
14.5
11.2

13.0
9.3

4.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/10/82
4/14/82
5/12/82
6/16/82
7/14/82
8/11/82
9/15/82
10/13/82


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10
SMALL TIME DEPOS I TS 1/
COMMERCIAL BANK SAVINGS DEPOSITS
BILLIONS

of

DOLLARS

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

billions of dollars

430 pr
420
410
400
390
380
___

—COMPOUNDED ANNUAL RATES
= OF CHANGE. AVERAGE OF
= THE FOUR WEEKS ENDING
—OCTOBER 13. 1982 FROM
Z THE FOUR WEEKS ENDING:
“AUG. II, 1982
8.7
- JUL. 14, 1982 15.4
— JUN. 16, 1982 17.9
= MAY
12, 1982 17.8
z_ APR. 14, 1982 19.4
- JAN. 13, 1982 20.4
= OCT,
OCT. 14,
14, 1981
1981 17.7

SMALL TIME DEPOSITS

1982.

BILLIONS

OCT.
—

310

J-LLLi..1 1
LATEST DATA PLOTTED WEEK ENDING: OCTOBER 13, 1982
BILLIONS OF DOLLARS
185

BILLIONS OF DOLLARS
185

— — ------------- 1--------z

E

1982

180
175
170

BILLIONS

E

175

E
E

OCT .
SAV1 GS DE POSITS

6
13

11:1
170

165
Z
160

165
160

/

155
150

180

SEP

z

E
155

E co MP0UNDE D

E

ANNUAL R *TES

Z THE FOUR WEEKS END 1 sIG
=L_ OCTOBER 13, 1982 FR DM
z the four w£eks END 1 'JG:
E_AUG. 11, 1982
4.
140
Z
JUL. 14, 1982 -2.
Z
JUN. 16, 1982 -5.
135 —MAY
12, 1982 -4.
=
APR. 14, 1982 -4.
=
JAN. 13, 1982 -0. .
130 “OCT. 14, 1981
0.
!*i_i_i 1 m 111111111 11111

150

1

145

S 19
AUG

16 30 I4 28 II 25
OCT
NOV
DEC
SEP
1981

140

E
Z

135
130

1 1 1

1 1 1

JAN

FEB

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 13,

1 1 1 1
1 1 1
I.L11.
3 17 31 14 28 12 26
23 7 21
MAR
APR
MAY
JUN
JUL
1982

111

J_LL

111
4 18
AUG

;
III!
1 1 1
1 IS 29 13 27
SEP
OCT

1982

1/ COMMERCIAL BANK TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN $100,000.


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

145

E

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
4.5 c--------1------------- 1------

1331

5

M.I.LL1QN.S

SEP.

15

OCT.

6

19

2 16 30

AUG

BILLIONS OF DOLLARS
------------------- --------4-5

SEP

14 28

OCT
19BI

II

25

NOV

9 23

DEC

6 20

3

JAN

FEB

17

LATEST DATA PLOTTED WEEK ENDING! OCTOBER 20,

3 17 31

MAR

14 28

APR

12 26

MAY

JUN
1982

JUL

AUG

SEP

OCT

1982

BUSINESS LOANS u
(COMMERCIAL AND INDUSTRIAL)

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
224

220
216

Z
—
—
Z
—

Z AUG.
212
208
204

200

BILLIONS OF DOLLARS
224

COMPOUNDED ANNUAL RA [ES
OF CHANGE, AVERAGE 0
THE FOUR WEEKS END IN 1
OCTOBER 13, 1982 FRO
THE FOUR wtEKS END 1 N

— JUL.
Z JUN.
-MAY
— APR.
Z JAN.
— OCT.

1 1 , 1982
14, 1982
16, 1982
12, 1982
14, 1982
13, 1982
14, 1981

/\ z

216
z

16.2
12.7
11.6
15.1
16.5
18.6
16.2

212

z

/

208

z
/ ,r~

204

_

E

z

z

E

z

196
192

200
196
192

~

E

188
—

196

MILLIONS

z

SEP.

214,967
217,818
218,017
217,315
219,804
218,168

184

8
15
22
29
OCT. 6
13

180
176

220

E
s
...HI. _1_LLL 1 1 1

-LLL

16 30 14 28

AUG

SEP

OCT
1981

II

NOV

25

iiii

-LLL

111

1 1 II ...1.1

3 17

3

JAN

FEB

9 23

DEC

17 31

MAR

J

Z
1111111111111
’
-LLL 1 1 1 1 -LLL

14 28 12 26

APR

MAY

23

JUN
1982

7 21

4

18

I

15 29 13 27

SEP

OCT

LATEST DATA PLOTTED WEEK ENDING-. OCTOBER 13, 1982
1/ BUSINESS LOANS INCLUDE BANKERS' ACCEPTANCES AND COMMERCIAL PAPER
2/ BANKS WITH DOMESTIC ASSETS OF «750 MILLION OR MORE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

188

_

184
180
176

12
LARGE TIME DEPOSITS
ALL COMMERCIAL BANKS
AVtKAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
290

ILL IONS OF DOLLARS

Cl------ 1----------- 1—
BILLIONS

AUG

SEP

OCT
1981

NOV

DEC

JAN

FEB

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 13,

MAP.

APR

MAY

JUN
1982

JUL

AUG

SEP

OCT

1982

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF 1100,000 OR MORE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS