Full text of U.S. Financial Data : September 15, 1988

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

IBBARY

September 15, 1988

--------- SEP 1 1 1088--------------------

THE WEEK'S HIGHLIGHTS:
is

The seasonally adjusted merchandise trade deficit shrank in July to
$9.53 billion from $13.22 billion in June, on a cost, insurance and
freight basis. For the first seven months of this year, the annualized
deficit was $137.5 billion, down from $170.3 billion in 1987.
Industrial production rose at a 6.3 percent annual rate from May
to August, continuing the rapid pace of the previous year when it
expanded 6.2 percent.
Retail sales growth slowed to a 1.9 percent rate from May to August,
down from 6.4 percent for the year ending in May.

^

Producer prices of finished goods accelerated to a 5.7 percent rate
of increase over the three months ending in August, up sharply from
a 2 percent increase in the previous year. Excluding food and energy,
these prices accelerated to a 4.9 percent rate from 2.9 percent over
the same periods.

nit.

KtllKKAI.

AKKSKKVK

IIANKot

OT M IDI IS

expressed do not necessarily reflect official positionsof the Federal Reserve system.
Digitizedviews
for FRASER
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
286 ------------- 1---------- 1------

lSBft

BILLIONS OF DOLLARS

BILLIONS
£8.9
>79.0

I

IS 29 12 2«

JUL

AUG

9 29

7 21

SEP
OCT
1987

4 18

NOV

2 10 90 19 27 10 24

DEC

JAN

FEB

0 29

MAR

0 20

4 10

APR

MAY
1988

LATEST PLOTTED RESERVE MAINTENANCE PERIOD ENDING' SEPTEMBER 7,

I

15 29 19 27

JUN

JUL

10 24

7 21

AUG

SEP

1988

THE ADJUSTED MONETARY BASE IS THE SUM OF RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL
RESERVE
BANKS,
CURRENCY
IN CIRCULATION
(CURRENCY
BY ruDLib
THE PUBLIC
IN THE
VAULTS OF ALL
---------unnnij,
bunntnui
in uiraiULBimn
i ounnuiui
ntuuHELD
01 mt
fro AM)
in me
*i
DEPOSITORY INSTITUTIONS) AND AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO CHANGES.
_ ......
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 AVAILABLE FROM THIS BANK.
RECENT DATA ARE PRELIMINARY.
ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
AVERAGE OF TWO MAINTENANCE PERIODS ENDING*
0/9/87

12/2/87

2/10/88

8.9
7.0
7.3
7.9
6.8
7.3
7.4
7. 1

5.6
6.5
7.6
6.1
6.8
7.0
6.6

2.9
6.0
4.0
5.6
6.1
5.7

3/0/88

4/6/88

5/4/88

5.1
7.2
7.6
6.8

5.2
6.2
5.5

6/1/88

7/13/88

TO THE AVERAGE OF
TWO MAINTENANCE
PERIODS ENDING*
2/10/88
3/ 0/88
4/ 6/88
5/ 4/88
6/ 1/88
7/13/88
8/10/88
0/ 7/88


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Federal Reserve Bank of St. Louis

10.7
6.4
7.6
7.8
7.1

9.6
7.7

6.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK (Ml )
AVtRAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
790 j—--------,------------- ,-----

198S.

BILLIONS OF DOLLARS
----------------------------=] 790

B1LLLQNS

AUG.

782.2
780.2
783.3
782.7
783. 1

6 20

3 17 91

14 28 12 20

SEP

OCT

9 23

7 21

4 18

DEC

JAN

1

IS 29 14 28 11

MAR

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 5.

25

9 23

APR

6 20

4 18

JUN

JUL

I

IS 29

12 26

1988

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
DEPOSII^AnTtRAVELERS^HECKS0 BY T* NWBANK PUBUC' DEUAND POSITS, OTHER CHECKABLE

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE
9/7/87

12/7/87

2/8/88

3/7/88

AVERAGE OF FOUR WEEKS ENDING:
4/4/88

5/2/88

6/6/88

7/4/88

TO THE AVERAGE
Of FOUR WEEKS
ENDINGt
2/
3/
4/
5/
8/
7/
8/
9/

8/88
7/88
4/88
2/88
6/88
4/88
8/88
5/88

4.8
3.0
4.2
5. 1
4.3
4.8
5.2
4.7


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

3.6
5.5
6.8
5.2
5.9
6.2
5.5

2.3
5.6
3.5
4.8
5.4
4.7

12.3
6.8
7.7
7.8
6.5

4.5
6.4
6.8
5.5

3.9
5.3
A.l

9.2
6.2

4.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK v
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED
RATIO

Ml MULTIPLIER

15 27 10 24

7 21

5 19

2 16 30 14 29 11 25

DEC

9 22

2 18 90 IS 27 IS 29

7 21

8 22

8 19

JAN

LATEST DATA PLOTTED TWO BEEK5 ENDING: SEPTElfiER 5, 1988
BILLIONS OF DOLLARS

—
_
_
“

L

tt

JUL.
JUN.
MAY
APR.
MAR.
DEC.
r.

4,
1988
6. 1988
Z, <988
4, 1988
7, 1988
7. 1987
t. 1907

i

‘

CURRE NCY

—

5.1

n

lll.

=

/

_
AIK .

SEP .
nil ILL 1 1 1
AIK

=

6.4

7.
6.C
7.2
8.2
8.2

in
5 17 SI

212

i

COMPOUNDED ANNUAL RATES
OF CHANGE. AVERAGE OF
THF FOUR WEEKS ENDING
OM
IGs

1

-

j- J

BILLIONS Of DOLLARS
212 :—i----------- s—i—i--------------

14 29 12

SEP
OCT
1987

mi. m
9 23
MOV

7 21

DEC

in...

12
JAN

1111 1 1 1
IS 29 14
FES

1 1 1
11

Nil

APR

MAY
1989

9
IS
22
29

1 207.0
206.3
208.7
207.3
208.0
5 207.5

_
“
_

_L1JL1..uj1iiii.1jj.i

«

20

4 18

I

15 29 12 28

JUN

LATEST OAT A PLOTTED WEEK ENDING: SEPTEMBER 5. 1968
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

206

TOTAL CHECKABLE DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

billions of dollars

570.1
568.7
566.4
568.7
567.5

I I II
e 20

3 17 31

14 28 12 26

SEP
OCT
1987

9 23

7 21

4 18

DEC

JAN

1

15 29 14 28 11

MAR

25

9 23

APR

8 20

4

JUN

JUL

18

1988

LATEST DATA PLOTTED WEEK ENDINGt SEPTEMBER 5.

1988

TOTAL|CHECKABLE|DEPOSITS IS THE SUM OF DEMAND DEPOSITS AND OTHER CHECKABLE DEPOSITS AT ALL

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE
9/7/87

12/7/87

2/8/88

1.7
4.0
5.7
3.3
4.8
5.3
4.6

0.7
4.8
2.2
3.9
4.8
3.9

3/7/88

AVERAGE OF FOUR WEEKS ENDING:
4/4/88

5/2/88

6/6/88

7/4/88

3.6
6.0
6.6
5.0

2.7
4.7
3.2

9.8
6.1

3.7

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/
3/
4/
5/
6/
7/
8/
9/

8/88
7/88
4/88
2/88
6/88
4/88
8/88
5/88

2.6
0.7
2. 1

3.4
2.4
3.2
3.8
3.3


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

12.7
6.0
7.3
7.5
6.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6

YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES

PERCENT

CORPi

PRIME BANK
LOAN RATE

MUNICIPAL
BONDS

3 17 31 14 28 II 25 S 23
JUL
AUG
SEP
OCT
1987

6 20
NOV

4 18
DEC

1

13 29 12 26 II 25 8 22
JAN
FEB
MAR
APR

6 20
MAY
1988

3 17
JUN

JUL

AUG

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDINGt SEPTEMBER 16,

1088
JULY

1
8
15
22
29
AUG.
5
12
19
26
SEP.
2
9
16 X
23
30

SEP
IS88.

90 DAY
CD'S

30-DAY
COMMERCIAL
PAPER

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
Baa BONDS

MUNICIPAL
BONDS **

7.62
7.76
7.91
8.03
8.08
8. 10
8.28
8.49
8.48
8.41
8.26
8.20

7.56
7.60
7.68
7.79
7.82
7.85
8.04
8.23
8. 18
8.20
8.09
8.06

7.48
7.59
7.76
7.86
7.92
7.94
8.15
8.31
8.30
8.24
8.09
8.05

9.82
9.84
9.95
10.03
10.03
10.00
10. 10
10. 15
10. 16
10. 14
9.95
9.86

10.97
11.02
11.11
11.14
11.20
11.16
11.20
11.23
11.25
11.21
11.13
11.08

7.74
7.75
7.77
7.77
7.76
7.69
7.83
7.85
7.80
7.76
7.67
N.A.

NOTE*
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.15 RELEASE.
M AVERAGES Of RATES AVAILABLE
MR 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

PERCENT

PERCENT
—I 11.0

11.0 i—

5-YEAR
TREASURY SECURITIES

DISCOUNT RATE

TREASUF

I

AUG

SEP

NOV

DEC

15 20 12 26 1|

FEB

25

8 22

MAR

8 20

3 17

MAY

JUN

I

IS 29 12 20

0 23

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING* SEPTEMBER

FEDERAL
FUNDS K*
JULY

1

8

15

22
AUG.

SEP.

29
5
12
19
26

2

9
16 *
23
30

7.63
7.81
7.59
7.83
7.80
7.84
7.75
8. 19

8.02
8. 15
8.15
8.13

3-MONTH
TREASURY
BILL
6.57
6.58
6.70
6.72
6,93
6.89
6.98
7.03
7.20
7.28
7.30
7.19

6-MONTH
TREASURY
mm

I-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

6.75
6.71
6.99
7.09
7.09
7. 15
7.26
7.51
7.51
7.50
7.40
7.41

7.01
7.11
7.25
7.25
7.31
7.34
7.59
7.68
7.69
7.65
7.52
7.46

8.46
8.51
8.67
8.72
8.74
8.67
8.94
9.05
9.06
8.92

9.06
9. 17
9.31
9.35
9.32
9.21
9.43
9.52
9.51
9.35
9. I 1
9.09

bill

STB^aCSS^SoSPS ENDING ™° DAYS EARLIER


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

8.68
8.66

bate shown

PREPARED BY FEDERAL RESERVE BAM< OF ST. LOUIS

7

8

MONEY STOCK ( M2 )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
3050 ---------- ,------------- r—

__ AUG.

— SEP.

BILLIONS OF DOLLARS
—i------------- ----------- 3050

MILLIONS
3030.5
3030.3
3029.3
3034.4
3034.1
3036.8

3025

2975

2975

2950

2950

2925

2925

2900

2900

3 17 31

14 28 12 26

SEP
OCT
1987

9 23

NOV

7 21

4 18

I

DEC

JAN

FEB

15 20 14 28 II 25

MAR

APR

9 23

MAY
1988

6 20

4

JUN

JUL

18

I

15 29 12 26

AUG

SEP

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 5. 1988
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE
M2 IS THE SUM OF Ml OVERNIGHT RPS ISSUED BY ALL COMMERCIAL BANKS, OVERNIGHT EURODOLLARS ISSUED
TO U.S. RESIDENTS BY FOREIGN BRANCHES OF U.S. BANKS, MONEY MARKET DEPOSIT ACCOUNTS, SAVINGS AND
SMALL TIME DEPOSITS, AND GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUn6s.
FOR MORE
DETAIL, SEE THE H.6 RELEASE.

MONEY STOCK (M2 )
COMPOUNDED ANNUAL RATES OF CHANGE,
9/7/87

12/7/87

5.4
5.5
6.3
6.5
6.4
6.2
5.9
5.7

7.5
8.4
8.4
7.8
7.4
6.8
6.4

2/8/88

3/7/B8

AVERAGE OF FOUR WEEKS ENDING:

4/4/88

5/2/88

6/6/88

7/4/88

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/
3/
4/
5/
8/
7/
8/
9/

8/88
7/88
4/88
2/88
6/88
4/88
8/88
5/88


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

8.6
8.6
7.6
7.0
6.3
5.9

9.9
8. 1
7.2
6.3
5.8

6.8
6.0
5.3
4.9

4.9
4.4
4.0

3.9
3.5

3.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

i.

T

T

ALL DEPOSITORY INSTITUTIONS
TOTAL TIME DEPOSITS!/
LARGE TIME DEPOSITS 2/
AVLKAGtS Of DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
—|------------- -------- -3 1970

COMPOUNDED ANNUAL RATES
ur
flfciwnc.
IT
THE FOUR *EEKS
ENDING
fu'iusuT
i9oo rnuo
THE FOUR WEEKS ENDING:
1910

1910
TOTAL TIME DEPOSITS
2,

1880

198B

7, 1988
7,

1987

10.3

BILLION?
I935‘6

1943.0
111! 111

1730

-1-Li I I I I I I

LATEST DATA PLOTTED WEEK ENDING* SEPTEMBER 5, 1988
BILLIONS OF DOLLARS
530 ---------- ,-------------t—

BILLIONS OF DOLLARS
—------------- ----------- 530

511.7
513,0
514.®
519.9
LARGE TIME DEPOSITS

• 20

S 17 31

14 29 12 28

» 23

7 21

4 18

DEC

JAN

1

IS 20 14 28 11

MAR

APR

0 23

8 29

4 18

JUN

JUL

I

IS 29 12 28

LATEST DATA PLOTTED WEEK ENDING* SEPTEMBER 5, 1988
1/ TOTAL TIME US THE SUM OF SAVINGS DEPOSITS, SMALL TIME DEPOSITS AND LARGE TIIC DEPOSITS.
2/ TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

10
17

31
3J

31
7
14

3342
2844
3031

BILLIONS OF DOLLARS

TOTAL BORROWINGS

LATEST DATA PLOTTED WEEK ENDINGt SEPTEMBER 14, 1988
BILLIONS OF DOLLARS
2.5

BILLIONS OF DOLLARS

183&

WLLLfiMS.
ADJUSTMENT + SEASONAL
BORROWINGS

2.0

1.0

0.5

I

19 20 12 28

4 18

0

OCT

NOV

2 18 30 13 27 10 24

JAN

FEB

0

6 20

4 18

APR

MAY

1

19 20 13 27 10 24

7 21

LATEST DATA PLOTTED WEEK ENDINGt SEPTEMBER 14, 1988


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

J.

0.0

COMMERCIAL PAPER OF NONFINANCIAL COMPANIES
NOT SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
1

91,514
91,715
90,326
91,925
90,336
90,826

1

■
,A

V

'

)

,

1 1

1

r\-

A

/*■

IT

S' s

2

V

r'

1 1

A

1

II

..A

r~\
/

%

I AUG. 3
_
10
_
17
_
24
_
31
_ SEP. 7

1 1

millions

1

= iasa

1

A ry

\

igi 111
I

75

-LLL

1 ILL

in

in

INI

9 23

7 21

4 18

2 16 30 IS 27 10 24

15 29 12 26

JUL

80

llll

1111

r -----------

80

AUG

SEP
OCT
1987

NOV

DEC

III. -LLL -LLLL .1.11 -LLL -U.LL III
INI -LLL
9 23 0 20 4 18
1 15 29 13 27 10 24 7 21
JUL
AUG
SEP
JAN
FEB
MAR
APR
MAY
JUN
1988

LATEST DATA PLOTTED WEEK ENDING* SEPTEMBER 7, 1988
* DASHED LINE REPRESENTS DATA USING A NEW REPORTING PANEL AND IS NOT COMPARABLE TO PREVIOUS DATA.

BUSINESS LOANS y
( COMMERCIAL

AND

INDUSTRIAL )

WEEKLY REPORT ING LARGE COMMERCIAL BANKS &
BILLIONS OF DOLLARS

SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

- COMPOUNDED ANNUAL RATES
_ OF CHANGE. AVERAGE OF
THE FOUR WEEKS ENDING
“ AUGUST 31. 1988 FROM
- JUN. 29,
1,
4,
MAR. 30,
2,
- MAR
2,
- SEP
2,

1988
1988
1988
1
1988
1987
1987

MILLIONS
JUL. 27
302,030
302,821
301,693
300,534
299,717
lllllll l.U I I 1 1 I I I
12 26

9 23

7 21

4 18

2 16 30 13 27 10 24

OCT

NOV

JAN

LATEST DATA PLOTTED WEEK ENDING* AUGUST 31,

9 23

FEB

8 20

4 18

APR

MAY

I

15 29 13 27

10 24

7 21

1988

1/ BUSINESS LOANS INCLUDE BANKERS’ ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS GREATER THAN 61.4 BILLION


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

DOLLAR'S TRADE-WEIGHTED EXCHANGE INDEX
AVERAGES OF DAILY FIGURES

1973-100

1973-100

I.

10

97.7
97.5

15 28 12 28

9 23

7 21
OCT

4 18
NOV

2

16 30 JAN
13 27

10 24
FEB

9 23

6
20
APR

4 18
MAY

1

15 29 13 27

10 24

7 21

LATEST DATA PLOTTED WEEK ENDING. SEPTEMBER M, 1988
NOTE.

CURRENT DATA APPEAR IN THE BOARD OF GOVERNOR'S H.10 RELEASE.

DATA ARE WEIGHTED AVERAGES OF THE FOREIGN-CURRENCY PRICE OF THE U.S. DOLLAR, COMPUTED USING
10 INDUSTRIAL COUNTRY CURRENCIES.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS