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|Fed^3::uffn|ancial Data
NOV 0 4 1987

October 29, 1987

THE WEEK’S HIGHLIGHTS:
is

The nation's real gross national product expanded at a 3.8 percent
annual rate in the third quarter of 1987 and was up at a 3.6 percent
rate from the fourth quarter of 1986.

ts

Personal income grew at an 8.4 percent rate in September and at
a 7.6 percent rate over the past three months. For the year ending
in June 1987, personal income rose 5.3 percent.
New factory orders for durable goods rose a seasonally adjusted 1.1
percent in September. Orders were up 4.6 percent from September
1986.

**

The consumer price index rose at a 2.1 percent annual rate in
September and was 4.2 percent above a year earlier.

v"

Major banks lowered their prime lending rate from 9.25 percent to
9 percent on October 22. The prime rate had been raised from 8.75
percent to 9.25 percent on October

7.

KF.DKRAL
KKSIKM
HANK of
STUM IS

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
274 m—1— 1------------_

laar

-

AUG.

_

OC T.

r.

BILLIONS OF DOLLARS
274
-

fliu■ IONS

12
26
w
23
7
21

266 3
266 3
0
i

-

268

Ay

268 0

-

:

V

A:

_

258

-

-

:

y

l l

_

J

258

/
i m

111

-LLLL

1 1 1

1 1 1

1 1 1

DEC

JAN

FEB

MAR

1111
29

OCT

NOV
I960

8 22

APR

111
0 20
MAY

_LLL
3 17

JUN
1987

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDINGt OCTOBER 21.

1 1.1 1
111
M11
15 20 12 26 9
JUL
AUG
SEP

111
r
OCT

_LL^S
16
NOV

1987

THE ADJUSTED

RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDINGt
10/22/86

1/14/87

3/25/87

4/22/87

5/20/87

8/17/87

6.5
7.4
6.4
5.3
5.8
5.8
5.7

8.0
6.0
4.3
5.3
5.4
5.4

6. 1
3.9
5.3
5.3
5.3

0.7
3.9
4.2
4.4

4.6
4.9
5.0

7/15/87

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDINGt
3/25/87
4/22/87
5/20/87
6/17/87
7/15/87
8/26/87
9/23/87
10/21/87

10. 1
9.4
9.5
8.6
7.6
7.7
7.5
7.4


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

7
6

5.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
780 ------------- .---------- 1------

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

SEP.

1

750.3
755.1
751.4
757.5
753.9
759.5

15 29 13 27 10 24

OCT

8 22

5 19

2 16

JAN

NOV

FEB

2 16 SO 13 27 II

APR

25

8 22

6 20

3 17 91

M 26 12 26

9 29

MAY

LATEST DATA PLOTTED WEEK ENDING: OCTOBER 19, 1987
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
BY THE N°NBANK PUBUC’ DEMAND DEP0SITS* °™ER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE,
10/20/86

1/19/87

3/16/87

4/20/87

15. 1
13.6
13.9
10.8
9. 1
9.0
8. 1
8.2

3.3
6. 1
3.2
2.0
2.7
2.4
3.1

1 1.3
4.7
2.6
3.5
3.0
3.7

3.0
0.7
2.3
1.9
2.9

AVERAGE OF FOUR WEEKS ENDING:

5/18/87

6/22/87

7/20/87

8/17/87

1.5
1.2
2.9

3.7
5.2

4.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/16/87
4/20/87
5/18/87
6/22/87
7/20/87
8/17/87
9/21/87
10/19/87


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

- 5.3
-1.5
-0.9
0.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

790

4

MONEY MULTIPLIERS
CURRENCY COMPONENT OF MONEY STOCK s
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO

1987
UG.
EP.
CT.

RATIO

RATIO

10
24
7
21
5
19

2.819
2.824
2.794
2.822
2.806
2.824
Ml MULTIPLIER

6 22

6 20
OCT

3 17
NOV

I

15

12 26 9 23
JAN
FEB

9 23

6
APR

4 18
MAY

1

15 29 13 27 10 24

7 21
SEP

5 19
OCT

2 16 30

LATEST DATA PLOTTED TWO WEEKS ENDING. OCTOBER 19, 1987
BILLIONS OF DOLLARS

BILLIONS OF DOLLARS

198 ---------,-------r—
COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THE FOUR llKEEKS ENDING
“ OCTOBER 19, 1987 FROM
___THE FOUR WEEKS ENDING.
-

-

AUG.
JUL.
JUN.

17,
21
2;

1987

APR. 20,
— JAN. 19,
_ OCT. 20,

8.4

1987
1987
1986

CURRENCY

SEP.

14

194.1

198.0

I 1 I 1-1-LL
1

IS 29 IS 27 10 24
OCT
NOV

8 22

8 19
JAN

2 16
FEB

2 16 30 13 27 II 25
APR
MAY

8 22

6 20

3 17 31

14 28 12 26

9 23

LATEST DATA PLOTTED WEEK ENDING. OCTOBER 19, 1987
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

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
------ ------------------------- 575

575 ------------,---------

549.3
553.5
555.4
551 .5
556.5

1

13 20

SEP

13 27

10 24

OCT
NOV
1986

8 22

DEC

5 10

2 10

JAN

FEB

2

16 30 13 27 II

MAR

APR

23

MAY

8 22
JUN

6 20

JUL

3 17 31

AUG

14 28 12 26

SEP

0 23

OCT

1987

LATEST DATA PLOTTED WEEK ENDINGt

OCTOBER 19,

1987

DEPOSITORY^NSTITUT?ONS^ IS THE SUM ^ DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE ,
10/20/86

1/19/87

3/16/87

17.0
15.5
15.8
1 1.7
9.5
9.3
8. 1
8.2

1 .7
5.3
1 .6
0. 1
1 .0
0.7
1.4

13. 1
4.2
1.4
2.5
1 .7
2.6

4/20/87

AVERAGE OF FOUR WEEKS ENDING:

5/18/87

8/22/87

7/20/87

8/17/87

-0.4
-0.9
1.3

2.3
4.2

2.8

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/16/87
4/20/87
5/18/87
6/22/87
7/20/87
8/17/87
9/21/87
10/19/87


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

1.4
-1.5
0.6
0.0
1.3

-9. 1
-4.2
-3.5
-1.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES

PERCENT
11.0 r-

PERCENT

—I 11.0

5-YEAR
TREASURY SECURITIES

3TREAS

DISCOUNT RATE

5 18

3 17 31

SEP

14 28

OCT
NOV
1986

12 28

DEC

8 23

JAN

6 20

6 20

3

FEB

MAR

APR

17

1

15 28 12 28

MAY

JUN
1987

10 24

7 21

JUL

AUG

SEP

OCT

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGs OCTOBER 30.

1987
SEP.

OCT.

NOV.

4
1 1
18
25
2
9
16
23
30 X
6
13
20
27

NOV
1987.

FEDERAL
FUNDS**

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL ***

1-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

6.85
6.95
7.21
7.26
7.56
7.43
7.59
7.37
7.03

6.21
6.39
6.36
6.48
6.62
6.65
6.98
5.70
5.18

6.34
6.72
6.64
N. A.
6.83
6.96
7.34
7.21
5.98

6.89
7. 16
7. 10
7.14
7.30
7.50
7.70
6.72
6.32

8.69
8.96
8.94
8.97
9. 17
9.39
9.73
8.90
8.38

9.43
9.72
9.69
9.69
9.81
9.92
10.21
9.57
9.14

NOTEt
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS * H.15 RELEASE EXCLUDING LONG-TERM TREASURY
SECURITIES WHICH ARE CONFUTED BY THIS BANK.
"
* AVERAGES OF RATESAVAILABLE---------------------------- -------TRE*SURY B'LL Y'ELI>S
™ * DISC°UNT BASIS'

mu SEVEN-DAY AVERAGES FOR WEEK ENDING TWO DAYS EARLIER THAN DATE SHOWN
mm AUCTI ON AVERAGE ( DISCOUNT )


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

12.0

CORPI
AAA B(

LOAN

90 DAY
CD’S
MUNICIPAL
BONDS

5 19

3

17 31

4 28 12 26

NOV

DEC

9 23

B 20

6 20

3

FEB

MAR

APR

17

I

15 29

12 26 10 24

7 21

4

AUG

SEP

18

2

16 30 13 27

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* OCTOBER 30,

1987
SEP.

OCT.

NOV.

4
1 1
18
25
2
9
16
23
30 X
6
13
20
27

1987.

90 DAY
CD’S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS’
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS XX

7.00
7.38
7.41
7.43
7.80
8. 19
8.73
7.90
7.44

6.87
7.29
7.35
7.34
7.45
7.52
7.86
7.26
6.96

6.96
7.29
7.35
7.37
7.62
8.04
8.59
7.73
7.25

9.87
10.15
10.28
10.25
10.34
10.48
10.73
10.68
10.26

1 l .00
11.23
11.40
11.42
11.49
1 1.61
11.78
11.77
11.36

8.05
8.38
8.32
8.30
8.53
8.66
9. 17
8.72
N. A.

NOTE-.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.15 RELEASE.
* AVERAGES OF RATES AVAILABLE
XX 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

7

8
COMMERCIAL BANK
SMALL TIME DEPOSITS 1/
LARGE TIME DEPOSITS v

-

iafil

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
410

—

1111

BILLIONS OF DOLLARS
410
BLLLLU
366.
367.1
368.!
369.
371.
372.

1111

TTTT TTTT

- SEP. 14
21
28
“
OCT. 5
“
12
19

SMALL TIME 5EP0S TS

-L L L

1

1 1 1

1

TTTT

2

350

!uj i

LLL -LLL

tin ,in

in

1111

-LLL -LLL

1 1 1 1 J LI

1 1 1 1

1 1 1 JJ 1

LATEST DATA PLOTTED WEEK ENDING* OCTOBER 19,
BILLIONS OF DOLLARS

iSfil
SEP.

w

BILLIONS OF DOLLARS
320

BILLIONS

14

314.6
LARGE TIME DEPOSITS

OCT.

I

15 29 13 27

OCT

10 24

8 22

NOV

5 19

2 16

JAN

FEB

2

18 30 13 27 1

LATEST DATA PLOTTED WEEK ENDING* OCTOBER 19,

25

8 22

6 20

3 17 31

14 28 12 28

SEP

9 23

OCT

1987

1/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000
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

COMMERCIAL BANK
TOTAL TIME DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
875

859.2

881*5
866.9

835

1

18 29 13 27 10 24

OCT

8 22

S 19

2 18

JAN

NOV

FEB

2

18 30 13 27

APR

II

25

8 22

8 20

3

MAY

17 31

14

SEP

12 26

9 23

OCT

LATEST DATA PLOTTED WEEK ENDING. OCTOBER 19, 1987
TOTAL TIME IS THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIME DEPOSITS.

TOTAL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING-.
10/20/86

1/19/87

3/16/87

4/20/87

5/18/87

6/22/87

7/20/87

8/17/87

7.2
8.1
8.9
8.5
8.0
7.3
7.4

10.7
10.9
9.9
9.0
7.8
7.9

11.4
9.7
8.7
7.3
7.5

9. 1
7.9
6.5
6.8

5.7
4.6
5.4

3.9
5.2

5.2

TO THE AVERAGE
OF FOUR WEEKS
ENDING!
3/16/87
4/20/87
5/18/87
6/22/87
7/20/87
8/17/87
9/21/87
10/19/87

6.7
7.3
7.8
8.3
8. 1
7.9
7.3
7.4


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

PREPARED BY FEDERAL RESERVE BANK OF ST.

9

LOUIS

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
3.0 ---------- 1------------- 1------

------ OCT

7

1103

21

BILLIONS OF DOLLARS

1111
TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK END INGt OCTOBER 28, 1987
BILLIONS OF DOLLARS
2.5 ---------- .------------- i-----1087

MILLIONS

7

3 17

I

SEP

OCT

BILLIONS OF DOLLARS
------------------------------- 2.5

ADJUSTMENT + SEASONAL
BORROWINGS

725

IS » 12 26 10 24

NOV
1086

DEC

7 21
JAN

4 18

4 IB

FEB

MAR

1

15 20 13 27

APR

MAY

10 24

JUN
1987

8 22

JUL

5 10

AUG

2 IB 30 14 28 II

SEP

OCT

25

NOV

LATEST DATA PLOTTED WEEK END INGt OCTOBER 28, 1987


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

PREPARED BY FEDERAL RESERVE BAMC OF ST. LOUIS

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
BILLIONS

NOT SEASONALLY ADJUSTED

DOLLARS

of

billions of dollars

79,944

81,427

3 17

1

IS 29 12

10 24

7 21

4 18

4 18

JAN

FEB

MAR

1

18 20 19 27

MAY

LATEST DATA PLOTTED WEEK ENDINGt OCTOBER 21,

10 24

8 22

5 10

2 16 30 14 28 11

JUN

OCT

25

NOV

1987

BUSINESS LOANS^
( COMMERCIAL AND INDUSTRIAL )
WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SfcASUNALLY ADJUSTED

BILLIONS OF DOLLARS
295 ---------- --------------------

ILL IONS OF DOLLARS
------1---------- 1---------- 295
COMPOUNDED ANNUAL RATES
OF CHANGE, AVERAGE OF
the four Weeks ending
OCTOBER 14, 1987 FROM
-----THE FOUR WEEKS ENDING:
AUG.
JUL.
JUN.
MAY
APR.
JAN.
OCT.

12,
15,
17,
13,
15,
14,
15,

1987
1987
1987
1987
1987
1987
1986

SEP.

OCT.

18 20 12 28 10 24

7 21

4 18

4 18

JAN

FEB

MAR

LATEST DATA PLOTTED WEEK ENDINGt OCTOBER 14,

1

15 20 IS 27 10 24

MAY

8 22

JUN

9

7

10.2
1.5
-2.7--------1.2
-2.1
-4.1
I
5.1 ____

271,218
271,744
275,110
275,334
275,702

-LI .J I 1 I 1 II 11 I I I
5 10

2 18 30 14 28 II

OCT

25

NOV

1987

1/ BUSINESS LOANS INCLUDE BAhKERS1 ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 81.4 BILLION


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

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