Full text of U.S. Financial Data : September 10, 1992
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Federal Reserve Bank ■itMncial warn Data THE WEEK'S HIGHLIGHTS: ✓ The civilian unemployment rate for August was 7.6 percent. This rate was down 0.1 percentage points from July, the second consec utive monthly decrease. The unemployment rate was 6.8 percent in August 1991. ✓ Total nonfarm payroll employment fell by 0.9 percent annually in August, following a 2 percent increase in July. For 1992 to date, however, payroll employment has increased by 0.5 percent annually. Private payrolls (payroll employment excluding government) fell at a 2.2 percent annual rate in August, after rising 1.3 percent in July. Private payrolls have fallen 1.1 percent in the last year. %/ Consumer installment credit outstanding declined at a 1.9 percent annual rate during July and has now fallen for six consecutive months. Consumer credit declined by 1 percent during the past year. The yield on three-month Treasury bills fell to 2.91 percent for the week ending September 9. This is its lowest level since the week ending June 26, 1963. Views expressed do not necessarily reflect official positions of the Federal Reserve System. U.S. Financial Data is published weekly by the Research and Public Information Division of the Federal Reserve Bank of St. Louis. The cost for a subscription is as follows: One year (50 issues) Two years (100 issues) • $18 $30 To subscribe, please send your check or money order made payable to the Federal Reserve Bank of St. Louis to: Research and Public Information, Federal Reserve Bank of St. Louis, Post Office Box 66953, St. Louis, MO 63166-6953. DO NOT SEND CASH. Checks from foreign subscribers must be payable in U.S. dollars a’hd, except for those from Canada, myst be drawn on a l/.S. bank. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 2 Adjusted Monetary Base Averages of Daily Figures Seasonally Adjusted Billions of Dollars 1992 Billions Jun 24 Jul 8 364.2 362.7 Aug 5 Sep 2 Billions of Dollars 372.2 371.4 25 9 23 6 20 * 18 1 15 29 12 26 11 25 22 6 20 3 17 1 15 29 12 26 9 23 17 31 14 28 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 1991 1992 Latest data plotted reserve maintenance period ending: September 2. 1992 The adjusted monetary base is the sum of reserve accounts of financial institutions at Federal Reserve banks, currency in circulation (currency held by the public and in the vaults of all depository institutions) and an adjustment for reserve requirement ratio changes. The major sourc$ of the adjusted monetary Dose is Federal Reserve credit. Data are computed by this bank. A detailed description of the adjusted monetary base is available from this bank. Recent data are preliminary. 3 Adjusted Monetary Base To the average of two maintenance periods ending: 2/5/92 3/4/92 4/1/92 4/29/92 5/27/92 7/8/92 8/5/92 9/2/92 Compounded annual rates of change, average of two maintenance periods ending: 9/4/91 11/27/91 2/5/92 3/4/92 4/1/92 4/29/92 5/27/92 7/8/92 7.9 10.2 9.2 9.3 9.2 8.0 8.6 9.1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11.8 9.7 9.9 9.6 7.8 8.6 9.3 12.8 12.1 11.0 8.0 9.2 10.1 6.5 7.0 4.8 6.7 8.0 9.2 5.4 7.6 9.1 3.4 6.7 8.7 15.8 Prepared by Federal Reserve Bank of St. Louis Money Slock (Ml) and Total Checkable Deposits Averages ot Daily Figures Seasonally Adjusted Billions of Dollars 1992 Billions of Dollars M1 Billions - Jul 27 Aug 3 10 17 24 31 962.3 ■ 966.3 972.2 975.4 972.4 979.0 TCD (right scale) M1 (left scale) — TCD 1992 Billions Jul 27 Aug 3 10 17 24 31 I 15 2! 12 28 Jul Aug 9 23 Sep 7 21 Oct 4 18 2 16 30 13 27 10 24 Nov Dec Jan Feb 9 23 Mar 6 20 Apr 1 674.5 677.7 682.2 684.8 681.7 687.4 18 1 15 29 13 27 10 24 May Jun Jul Aug 7 21 Sep 1992 1991 Latest data plotted week ending: August 31, 1992 Current data oppear in the Federal Reserve Board's H.6 release. M1 is the sum of currency held by the nonbank public, demand deposits, other checkable deposits and travelers checks. Total checkable deposits is the sum of demand deposits and other checkable deposits at depository institutions. Money Stock (Ml) of four weeks ending: 2/3/92 3/2/92 3/30/92 5/4/92 6/1/92 6/29/92 8/3/92 8/31/92 Compounded annual rates of change, average of four weeks ending: 9/2/91 12/2/91 2/3/92 3/2/92 3/30/92 5/4/92 6/1/92 6/29/92 13.1 15.6 14.9 13.6 13.7 11.9 11.8 12.4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 19.1 17.0 14.4 14.4 11.8 11 7 12.5 20.1 14.5 14.4 10.7 10.8 12.0 8.0 9.9 6.5 7.6 9.3 9.7 5.3 6.9 9.1 4.8 7.3 10.1 4.3 8.8 15.0 Prepared by Federal Reserve Bank of St. Louis 3 600 4 Adjusted Reserves Billions of Dollars Seasonally Adjusted Billions of Dollars 92 1992 Billions 90 Jun 24 Jul 8 Aug 5 Sep 2 86 84 82 28 3 17 31 14 28 11 2S 8 23 Jul Aug Sep Oct 1991 8 20 4 18 1 15 2) 12 28 11 25 Nov Dec Jan Feb Mar 8 22 Apr 8 20 3 17 May Jun 1992 15 2) 12 28 Jul Aug 9 23 Sep Latest data plotted two weeks ending: September 2, 1992 Adjusted reserves is the difference between adjusted monetary base and currency component of M1. Adjusted Reserves T ,. , Compounded annual rates of change, average of two maintenance periods ending: I o tne average of g/4/91 n/27/91 2/5/92 3/4/92 4/1/92 4/29/92 5/27/92 7/8/92 two maintenance periods ending: 2/5/92 3/4/92 4/1/92 4/29/92 5/27/92 7/8/92 8/5/92 9/2/92 ' 8.9 18.2 16.5 17.3 16.6 11.9 12.4 12.4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 24.9 20.5 21.0 19.4 12.3 12.9 12.8 40.4 34.4 28.1 15.0 15.4 15.0 14.4 13.2 3.4 5.9 6.8 16.9 2.6 5.8 7.0 -4.6 1.3 3.7 Prepared by Federal Reserve Bank of St. Louis 76 Money Multiplier 1/ Averages of Daily Figures Seasonally Adjusted Compounded annual rates of change, average of the four weeks ending August 31, 1 992 from the four weeks ending: Sep 2, 1991 3.0 Nov 25, 1991 3.0 Mar 2. 1992 1.3 Mar 30, 1992 -0.2 Apr 27. 1992 0.9 May 25, 1992 -0.1 Jul 6, 1992 0.2 1 15 29 12 26 Jul Aug 9 23 Sep 7 21 Oct Ratio 4 18 2 16 30 13 27 10 24 Nov Dec Jan Feb 9 23 Mar 6 20 Apr 1991 4 Jun 22 Jul 6 2.611 2.631 Aug 2.61 6 2.617 2.627 3 16 1 15 29 13 27 10 24 May Jun Jul Aug 7 21 Sep 1992 Latest data plotted two weeks ending: August 31, 1992 Currency Component of M12/ Billions of Dollars 295 Averages of Daily Figures Seasonally Adjusted Billions of Dollars 295 I-----------f Compounded annual rates of change average of the four weeks ending August 31, 1992 from the four weeks ending Sep 2. 1991 8.1 1991 1992 Mar 30 1992 1992 1992 Jun 29. 1992 1 15 29 Jul I I 1 I FTi-l T» I ■ ■ I i m r T^i I ' I 12 26 9 23 7 21 4 18 2 16 30 13 27 10 24 9 23 Aug Sep Oct Nov Dec Jan Feb Mar 1991 1992 Billions Jul 27 Aug 3 10 17 24 280.0 280.8 282.2 282.7 282.7 283.5 I ' I ' ‘I ■ l ■ ■ l i ■ | r-rV| i | i* | 6 20 4 18 1 15 29 13 27 10 24 7 21 Apr May Jun Jul Aug Sep 1992 Latest data plotted week ending: August 31, 1992 1/ Ratio of M1 to adjusted monetary base 2/ Current data appear in the Federal Reserve Board's 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 Percent Percent Averages of Daily Figures Aaa Bonds Municipal Bonds ■Loan Rats. 5 19 Jul 2 16 30 13 27 Aug Sep 11 25 Oct 8 22 Nov 6 20 3 17 31 14 28 13 27 10 24 Dec Jan Feb Mar Apr 1991 8 22 May 5 19 3 17 31 14 28 Jun Jul Aug 11 25 Sep 1992 Latest data plotted are averages of rates available for the week ending: September 11, 1992 1992 Jun 19 26 3 10 17 24 31 Aug 7 14 21 28 Sep 4 n * Jul 90-Day CDs 30-Day Commercial Paper 90-Day Bankers' Acceptances Corporate Aaa Bonds Corporate Baa Bonds Municipal Bonds ** 3.83 3.84 3.75 3.37 3.34 3.32 3.32 3.32 3.28 3.28 3.34 3.28 3.08 3.89 3.89 3.80 3.45 3.42 3.40 3.36 3.39 3.35 3.37 3.39 3.37 3.18 3.79 3.79 3.66 3.33 3.28 3.29 3.29 3.28 3.25 3.26 3.31 3.25 3.05 8.22 8.20 8.16 8.08 8.09 8.06 8.01 7.99 7.93 7.91 7.97 7.93 7.87 9.02 9.02 8.98 8.89 8.87 8.82 8.71 8.68 8.62 8.62 8.69 8.64 8.54 6.46 6.42 6.38 6.17 6.16 6.05 5.89 6.06 6.05 6.21 6.31 6.24 NA Current data appear in the Federal Reserve Board's H.15 release. * Averages of rates available ** Bond Buyer's Average Index of 20 municipal bonds, Thursday data N.A. - Not Available Prepared by Federal Reserve Bank of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Selected Interest Rates Percent Percent Averages of Daily Figures 'unde Rate- Jul IS 30 13 27 11 25 Aug Sep Oct 8 22 Nov 6 20 Dec 3 17 31 H 28 13 27 10 24 Feb Mar Apr 8 22 May 5 19 3 17 31 H 28 Jun Jul Aug Latest data plotted are averages of rates available for the week ending: September 11, 1992 1992 Jun 19 26 3 10 17 24 31 Aug 7 14 21 28 Sep 4 11 * Federal Funds ** 3.73 3.72 3.87 3.24 3.28 3.22 3.18 3.33 3.24 3.33 3.27 3.33 3.09 3—Month Treasury Bill 6—Month Treasury Bill *** 1 -Year Treasury Bill 3.63 3.64 3.48 3.22 3.19 3.17 3.18 3.16 3.11 3.07 3.16 3.10 2.91 3.75 3.77 3.66 3.32 3.31 3.24 3.27 3.30 3.19 3.18 3.24 3.26 2.95 3.93 3.94 3.79 3.48 3.38 3.38 3.43 3.39 3.28 3.26 3.38 3.26 3.03 5-Year Treasury Securities Long-Term Treasury Securities 6.44 7.67 6.40 7.65 6.22 7.56 5.93 7.42 5.85 7.45 5.74 7.36 5.70 7.20 5.69 7.18 5.53 7.08 5.48 7.11 5.69 7.23 5.48 7.13 5.23 6.95 Current data appear in the Federal Reserve Board's H.15 release excluding long-term Treasury securities which are computed by this bank. Treasury bill yields are on a discount basis. * Averages of rates available ** Seven—day averages for week ending two days earlier than date shown *** Auction average (discount) Prepared by Federal Reserve Bank of St. Louis Jul http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 8 Money Stock (M2) and Non-M1 Components of M2 Averages of Daily Figures Seasonally Adjusted Billions of Dollars 1992 Billions of Dollars M2 Billions Jul 27 3459.4 Aug 3 3460.8 10 3470.1. 17 3468.7 24 3465.4 31 3472.4 (left scale) Non-M1 M2 (right scale) Non-M1 M2 1992 Billions Jul 27 2497.1 Aug 3 2494.5 10 2497.9 17 2493.3 24 2493.0 31 2493.4 I IS 2! Jul 12 26 9 23 7 21 Aug Sep Oct 1991 4 18 2 It 30 13 27 10 24 Nov Dec Jan Feb 9 23 Mar 6 20 4 18 1 IS 29 13 27 Apr May Jun Jul 1992 10 24 Aug 7 21 Sep Latest data plotted week ending: August 31, 1992 Current data appear in the Federal Reserve Board's H.6 release. M2 is the sum of M1, overnight RPs issued by all commercial banks, overnight Eurodollars issued to U.S. residents by foreign branches of U.S. banks, savings (including money market deposit accounts), small time deposits and general purpose and broker/dealer money market mutual funds. For more detail, see the H.6 release. Money Stock (M2) To the average Compounded annual rates of change, average of four weeks ending: 9/2/91 12/2/91 2/3/92 3/2/92 3/30/92 5/4/92 6/1/92 6/29/92 ending: 4.3 2.0 1.6 0.8 0.4 0.9 -1.2 -0.7 -1.2 -1.2 -0.4 -0.7 -1.3 -1.2 -0.3 -1.2 -1.1 -1.8 1 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4.8 3.4 2.3 2.0 1.3 1.0 1.3 6 2.8 3.8 3.2 2.5 2.3 1.8 1.5 1.7 o o 2/3/92 3/2/92 3/30/92 5/4/92 6/1/92 6/29/92 8/3/92 8/31/92 Prepared by Federal Reserve Bank of St Louis Savings and Money Market Funds Averages of Daily Figures Seasonally Adjusted Billions of Dollars 1180 - - - - - - 1——i— Billions of Dollars Savings 1992 Billions Jul 27 1136.8 lilt —Aug 3 1137.8 . INJ 10 1142.4 17 1145.8 24 1147.1 31 1148.8 Money Market (right scale) Money Market 1992 Billions Savings Deposits (left scale) 1 Jul 27 Aug 3 10 17 24 31 349.7 349.1 — 346.9 348.0 347.6 348.3 15 29 12 26 Jul Aug 9 23 7 21 4 18 2 16 30 13 27 10 24 9 23 6 20 4 18 1 15 29 13 27 10 24 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 1991 1992 Note: Savings deposits are at ail depository institutions. Money market funds are general purpose and broker/dealer. 7 21 Sep Large and Small Time Deposits1' Billions of Dollars ^ . All Depository Institutions Averages of Daily Figures, Seasonally Adjusted Billions of Dollars --------- 1---------1— 1140 Small Time 1992 Billions \ s' 450 Small Time ( ight s Dale) >* Jul 27 Aug 3 10 937.5 934.1 929.9 24 1 92C .5 92C .7 'A Is N 1080 \ v\ 425 .arge T ime (left seal*0 1020 \s X S N Lar ge Tin■te 199 2 Bilil ons Aug 375 1 3 10 17 24 31 l \ 386.7 384.9 383.7 383.2 380.1 l 15 29 12 26 9 23 7 21 Jul Aug Sep Oct 1991 N 'N Ns V 4 18 2 IS 30 13 27 Nov Dec Jan IB 24 Feb 9 23 Mar 6 20 Apr 4 18 1 15 29 13 27 May Jun Jul 1992 10 24 Aug 7 21 Sep Latest data plotted week ending: August 31, 1992 1/ Large time deposits are those issued in demoninations of $100,000 or more. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis 9 900 10 Total Borrowings From Federal Reserve Banks Averages of Daily Figures Billions of Dollars 1992 5 12 19 26 2 9 3 Billions of Dollars Billions 0.243 0.229 0.268 0.267 0.249 0.214 17 31 14 28 11 25 9 23 Jul Aug Sep Oct 1991 6 20 4 18 1 15 29 12 26 11 25 Nov Dec Jan Feb Mar 8 22 Apr 6 20 3 17 1 15 29 12 26 May Jun Jul Aug 1992 9 23 Sep Adjustment + Seasonal Borrowings From Federal Reserve Banks Averages of Daily Figures Billions of Dollars 1992 Aug 5 12 19 26 Sep 2 9 3 Billions of Dollars Billions 0.243 0.229 0.268 0.267 0.249 0.214 17 31 14 28 11 25 9 23 Jul Aug Sep Oct 1991 6 20 4 18 Nov Dec 1 15 29 12 26 11 25 Jan Feb Mar 8 22 Apr 6 20 3 17 1 15 29 12 26 May Jun Jul Aug 1992 9 23 Sep Latest data plotted week ending: September 9, 1992 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis Commercial Paper of Nonfinancial Companies Billions of Dollars 1992 Aug 3 Billions of Dollars Not Seosonolly Adjusted Billions 5 17 31 14 28 11 25 Jul Aug Sep S 23 Oct 6 20 4 18 1 15 29 12 26 11 25 Nov Dec Jan Feb Mar 8 22 Apr 6 20 3 17 1 15 29 12 26 May Jun Jul Aug 9 23 Sep Latest data plotted week ending: September 2, 1992 Commercial and Industrial Loans'7 Billions of Dollars 380 Weekly Reporting Lorge Commercial Banks2/ Seasonally Adjusted Billions of Dollars „ I I Compounded annu al rates of change, average of the fou weeks ending August 26, 1992 fr om the four weeks end ing: Aug 28, 1991 r. 8 Nov 27, 1991 5.2 Feb 26, 1992 5.6 Mar 25. 1992-1C).3 Apr 29, 1992—1C ).6 May 27, 1992-1 .5 340 320 380 ---------- 1--------199,2 12 19 Aug 5 2 ; 9 >6 Billions 278.028— 276.467 277.339 276.711 276.818 275.677 360 340 320 300 280 260 ] 17 31 14 !> 11 25 ! !3 Jul Aug Sep Oct 1991 6 20 4 11 1 15 29 1! 26 II 25 Nov Dec Jan Feb Mar S 22 Apr f 10 3 17 May Jun 1992 1 15 29 12 26 Jul Aug 9 23 Sep " Latest data plotted week ending: August 26, 1992 1/ Commercial and industrial loans include banker's acceptances and commercial paper. 2/ Banks with domestic assets greater than $1.4 billion D Prepared by Federal Reserve Bank of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11 Dollar’s Trade-Weighted Exchange Index 1973=100 1973=100 Averages of Daily Figures 1992 1973=100 3 17 Jul 31 14 21 11 25 9 23 Aug Sep Oct 1991 6 20 Nov 4 II I 15 2) 12 26 Dec Jan Feb 11 25 Mar 8 22 6 20 3 17 Apr May Jun 1992 1 Aug 5 Sep 2 15 29 12 21 9 23 Jul Aug Sep Latest data plotted week ending: September 9, 1992 Current data appear in the Federal Reserve Board's H.10 release. Data are weighted averages of the foreign—currency price of the U.S. dollar, computed using 10 industrial country currencies. Prepared by Federal Reserve Bank of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis >4 K CQ n 03 J