Full text of U.S. Financial Data : September 23, 1993

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

Fedeii

SEP 2 1 1993
FKIHItM
KISKKM
HWkot
ST. IOI IS

THE WEEK'S HIGHLIGHTS:
*/ The Ml money stock has expanded at an annual rate of 10.2 per­
cent since December 1992, compared with a 14.1 percent increase
during the previous year.
t/ The Federal Reserve discount rate has been at 3 percent since
July 2, 1992. This is the longest period of no change since about a
22-month period in 1989-90. On a weekly average basis, the yield
on three-month Treasury bills has ranged between 2.69 percent
and 3.48 percent since July 2, 1992.
t/ The federal budget deficit for August was $23.2 billion, compared
with $24.7 billion a year earlier. For the first 11 months of this
current fiscal year, the deficit has totaled $263.4 billion, down
from $295.7 billion for the first 11 months offiscal 1992.
✓ Privately owned housing starts for August increased to an annual
rate of1,323,000 units from a rate of1,227,000 units in July, the
highest level in three and a half years. For the first eight months
of this year, housing starts totaled 844,800 units, up from 818,800
units for the same period in 1992.

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:
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must be payable in U.S. dollars and, except for those from Canada, must be drawn on a U.S. bank.
Information in this publication is also included in the Federal Reserve Economic Data (FRED) elec­
tronic bulletin board. You can access FRED with a personal computer and a modem at 314-621-1824.

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Federal Reserve Bank of St. Louis

2
Adjusted Monetary Base
Averages ot Daily Figures
Seasonally Adjusted

Billions of Dollars

1993

5

Jul

7

Aug

4

Sep

1

19
Aug

2

Billions of Dollars

Billions
406.2
410.9
409.1
413.5
413.4
414.9

16 30 14 21 11 25 9 23 6 20

Sep

Oct

Nov

Dec

Jan

3 17 3
Feb

17 31 14 28 12 26
Mar

Apr

May

1992

9 23

7 21 4

Jun

Jul

18

Aug

1

15 29 13 27
Sep

Oct

1993

Latest data plotted reserve maintenance period ending: September 15, 1993

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 source 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.

Adjusted Monetary Base
To the average of
two maintenance
periods ending:
2/17/93
3/17/93
4/14/93
5/12/93
6/9/93
7/21/93
8/18/93
9/15/93

Compounded annual rates of change, average of two maintenance periods ending:
9/16/92 12/9/92 2/17/93 3/17/93 4/14/93 5/12/93
6/9/93 7/21/93

13.2
10.3
9.6
10.1
11.1
11.0
10.8
10.7


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

8.5
7.8
8.9
10.5
10.4
10.2
10.2

0.3
4.7
8.2
8.7
8.8
8.9

9.6
12.8
11.9
11.4
11.1

16.7
13.8
12.7
12.1

13.8
12.4
11.7

9.6
9.6

9.3

Prepared by Federal Reserve Bank of St. Louis

Money Stock (M1) and Total Checkable Deposits
Billions of Dollars

Averages of Daily Figures

Bjllions of Dollars

oeuiunuii)! nujusicu

1993

M1
Billions

-Aug 9
16
23
30
S«p 6
13

1091.5­
1095.2
1096.1
1097.5
1102.9
1103.7

-TCD (right scale)-

1993
M1 (left scale)

3

Aug 9
16
23
30
Sep 6
13

17 31 1+ 28 12 26 9 23 7 21 4 18
Aug

Sep

Oct
1992

Nov

Dec

Jan

1

15 1
Feb

15 29 12 26 10 24 7 21
Mar

Apr

5

May
Jun
1993

Billions
772.7
775.5
775.3 —
774.9
780.6
779.9

19 2 16 30 13 27 11 25
Jul

Aug

Sep

Oct

Latest data plotted week ending: September 13, 1993
Current data appear 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)
T ..
Compounded annual rates of change, average of four weeks ending:
I o the average 9/14/92 12/14/92 2/15/93 3/15/93 4/12/93 5/10/93 6/14/93 7/12/93
of four weeks
ending:
2/15/93
3/15/93
4/12/93
5/10/93
6/14/93
7/12/93
8/16/93
9/13/93

.

12.7
11.0
10.5
10.8
12.2
12.0
12.1
12.1


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

4.5
5.2
6.6
9.5
9.6
10.0
10.2

4.8
7.4
11.6
11.3
11.7
11.6

10.2
14.8
13.6
13.5
13.2

18.0
15.5
14.8
14.2

16.7
15.4
14.5

Prepared by Federal Reserve Bank of St. Louis

3

4
Adjusted Reserves
Billions of Dollars

Seasonally Adjusted

Billions of Dollars

106
1993
Jul

Billions

7

21

102.1

102

Aug

4 98.5
18 102.0
Sep 1

94

90

86

5

19 2
Aug

16 30 14 28
Sep

Oct
1992

25 9 23 6 20 3 17 3 17 31
Nov

Dec

Jan

Feb

Mar

28 12 26 9 23 7 21 4 18
Apr

May
Jun
1993

15 29 13 27
Sep

Oct

Latest data plotted two weeks ending: September 15. 1993
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
To the average of
two maintenance
periods ending:
2/17/93
3/17/93
4/14/93
5/12/93
6/9/93
7/21/93
8/18/93
9/15/93

Compounded annual rates of change, average of two maintenance periods ending:
9/16/92 12/9/92 2/17/93 3/17/93 4/14/93 5/12/93
6/9/93
7/21/93

25.0
11.9
8.4
11.6
15.1
13.4
12.7
10.9


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Federal Reserve Bank of St. Louis

4.0
0.3
6.4
12.0
10.4
9.8
7.8

-26.7
-9.3
2.7
2.9
3.3
1.6

10.7
22.2
15.6
13.7
9.9

43.7
24.9
20.2
14.4

19.7
15.4
9.6

4.3
0.4

-1.9

Prepared by Federal Reserve Bank of St Louis

82

Money Multiplier1/
Averages of Daily figures
Seasonally Adjusted

Ratio
Compounded annual
rates of change,
average of the four
weeks ending
September 13, 1993 from
the four weeks ending
Sep
Dec
Mar
Apr
May
Jun
Jul

1993

5
19
Aug 2
16
30
Sep 13

14
7
15
12
10
7
19

J 17 II 14 21 12 li ! 23 7 21
Aug
Sep
Oct Nov Dec

Ratio

Jul

1 II
Jan

I

2.651
2.640
2.662
2.645
2.653
2.659 —

15 I IS 2) I! 2f 10 24 7 21 5 ti 2 li ]0 li 27 11 l'f
Feb Mar
Apr May Jun
Jul
Aug
Sep
Oct

1992
Latest data plotted two weeks ending: September 13, 1993

1993

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Sillions of Dollars

Billions of Dollars

Compounded annual
rates of change,
average of the four
weeks ending
September 13,1993 from
the four weeks ending:
Sep 14, 1992 10.6
Dec 14, 1992 10.9
Mar 15. 1993 11.5
Apr 12, 1993 11.4
May 10, 1993 12.4
Jun 14, 1993 12.9
Jul 12, 1993 12.2

1993

3

Billions

Aug

9

311.0
311.9
313.0

Sep

6

314.5
316.0

17 31 14 28 12 26 9 23 7 21 4 18 1 15 1 15 29 12 26 10 24 7 21 5 19 2 16 30 13 27
Aug
Sep
Oct
Nov Dec
Jan
Feb Mar
Apr May
Jun
Jul
Aug
Sep Oct
1992

1993

Latest data plotted week ending: September 13, 1993
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

Averoges of Doily Figures

Loan Rato

18 2 18 30 13 27 11 25
Sep

Oct

Nov

16 30 H 28 11 25 9 23 6

Dec

Apr

May

Jun

Jul

20
Aug

17 1
Sep

15 29
Oct

Latest data plotted are averages of rates available for the week ending: September 24, 1993

1993
Jul

2
9
16
23
30
Aug 6
13
20
27
Sep 3
10
17
24 *

90-Day
CDs

30—Day
Commercial
Paper

90—Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

3.18
3.16
3.14
3.16
3.17
3.17
3.15
3.13
3.14
3.13
3.11
3.12
3.12

3.20
3.16
3.13
3.14
3.15
3.16
3.15
3.15
3.11
3.14
3.12
3.14
3.15

3.13
3.12
3.10
3.14
3.13
3.12
3.10
3.09
3.08
3.08
3.06
3.08
3.08

7.24
7.22
7.16
7.17
7.14
7.04
6.92
6.79
6.71
6.61
6.51
6.66
6.80

7.96
7.96
7.90
7.93
7.95
7.82
7.69
7.53
7.43
7.34
7.26
7.33
7.44

5.55
5.55
5.50
5.61
5.65
5.61
5.45
5.40
5.35
5.35
5.24
5.27
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

7.0

7.0
5~Y«or
Trwast ry Secu rittee

s

l

\
\

/,

6.0

\

\

\
f
\' >

X

V/

________

^x

f

\

X

1

\

/

X

✓ -\
✓ "\

KS

\

/

\

___ _____________

5.0

Federa

F undt R its

W

b

\

1,/V

3.0

-V-V

V_
>

/ z-\ tenth

*Vw i

3.0

V\ {•count Rata

Trwai ury Bill

2.0

....

7 21

4

IB 2

Aug

Sep

IS 30 13 27 11 25
Oct

Nov

Dec

8 22

5

Jan

Feb

U 5

19

Mar

2

16 30 14 28 11 25 9 23
Apr

May

Jun

Jul

6 20 3 17
Aug

Sep

1

15 29
Oct

1993

1992

Latest data plotted are averages of rates available for the week ending: September 24, 1993

1993
Jul

2
9
16
23
30
Aug 6
13
20
27
Sep 3
10
17
24 *

Federal
Funds **
3.13
3.10
3.01
3.09
3.03
3.10
2.98
3.06
2.98
3.08
2.99
3.03
3.12

3—Month
Treasury
Bill

6—Month
Treasury
Bill ***

5-Year
Treasury
Securities

Long-Term
Treasury
Securities

3.14
3.29
5.04
S.34
3.10
3.28
5.03
6.34
3.14
3.27
5.00
6.25
3.15
3.37
5.15
6.30
3.24
3.43
5.21
6.34
3.25
3.40
5.19
6.27
3.18
3.33
5.12
6.20
3.12
3.26
5.02
6.15
3.12
3.24
4.87
6.03
3.11
3.21
4.76
5.92
3.03
3.18
4.66
5.80
3.06
3.24
4.73
5.89
3.06
3.26
4.80
6.00
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


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

3.01
3.02
3.02
3.07
3.06
3.06
3.02
3.00
3.00
2.99
2.96
2.96
2.93

1 —Year
Treasury
Bill

7

8
Money Stock (M2) and Non-M1 Components of M2
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

2725

3525

M2
1993 Billions
Aug 9 3519.8
16 3528.4
23 3527.0.
30 3520.6
Sep 6 3532.5
13 3539.0

2625

■M2 (left

2525

Non-Mi M2 (right scale)

2425
Non-M1 M2
1993 Billions
Aug 9 2428.3'
16 2433.2
23 2430.9
30 2423.1
Sep 6 2429.6
13 2435.3

3 17 31 14 28 12 26 9 23 7 21
Aug

Sep

Oct
1992

Nov

Dec

4

18 1
Jan

15 1 15 29 12 26 10 24 7 21 5 19 2
Feb

Mar

Apr

May
Jun
1993

Jul

16 30 13 27 11 25
Aug

Sep

2325

2225

Oct

Latest data plotted week ending: September 13, 1993
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)
Compounded annual rates of change, average of four weeks ending:
To the average 9/14/92 12/14/92 2/15/93 3/15/93 4/12/93 5/10/93 6/14/93 7/12/93
ending:
2/15/93
3/15/93
4/12/93
5/10/93
6/14/93
7/12/93
8/16/93
9/13/93

0.1
-0.1
-0.1
0.3
1.4
1.3
1.5
1.5


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

-2.6
-2.1
-1.1
0.9
0.7
1.1
1.2

-0.6
0.6
3.2
2.5
2.7
2.6

1.4
4.5
3.4
3.3
3.2

6.7
4.5
4.1
3.8

5.1
4.4
4.0

1.7
1.9

2.8

Prepared by Federal Reserve Bank of St. Louis

Savings and Money Market Funds
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars
1250
I--------- 1---------Savings
1993 Billions
Aug 9 1204.0
16 1205.7
1220
23 12C 5.3
30 12C 6.7
Sep 6 12C 9.1
13 121 0.8

Billions of Dollars

310

380

^ N _ /“ ~

““ - ■

350

\

1160

I

—

•to —

Mon

fy

✓

320

Mart at (rig it scale )
Mon ey Ma rket
1993 Billions

Sav rigs De »stti left see le)

1130

1100

r~r i

•

' 1 ' I1

i ■ i

T' 1 '

Aug

"« 1 '

• i • i • i » i *~m

m ~T

1 1 i T-r-l ■

336 0
16 334.4
23 335.5
30 332.1
Sep 6 329.9
13 333.3
............ '■

Aug

Sep
Oct
Nov
Dec
Jan
Feb Mar
Apr
May
Jun
Jul
Aug
.
1992
1993
Note: Savings deposits are at all depository institutions. Money market funds are general purpose
and broker/dealer.

Sep

290

260
Oct

Large and Small Time Deposits1 /
Billions of Dollars

M Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars
1
1
Small Time
1993 Billions
Aug

9
16
23
J□
Sep 6
13

370
Li rgoTli » (left scale)

330

to.
’'"to

La -ge Tinne
199I Bill ons
16
23
30
Sep 6
13
» I

975

910
N.

310

815.5
814.8
813.7
812 .2 —
811 .0
809 .6

1030

1J1

I ■

J■

Sep

Oct

1992

•to

i mall T1 Tie (rig it seal e)

l ■ l

3 17 31 13 IJ 12 26
Aug

to ^

337.6
338.9
338.9
336.1
337.4
rr| -|

mm

9 23 7 21
Nov Dec

i ■ i '

3 II 1
Jan

'Ml1

IS
Feb

I

IS 29 12 26 10 23
Mar

Apr

May

635

to

I'M1 I'M1 T» I
~r~i~r' r

7 21
Jun

1993

S 19 2
Jul

It 31 1] 27 11 IS

Auq

y

Sep

H

Oct

Latest data plotted week ending: September 13, 1993
1/ Large time deposits are those 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

9

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

r—i— 1.4

1.4
1.2

1993

Billions

Aug 1 8
25
Sep 1
8

0.268
0.254
0.356
0.856

1.2
1.0

22 0.36 0

0.6
0.6

0.6

0.4

0.4

0.2

0.2

5 19 2

16 30 14 !« It !S ! 13 t !0 3 12 3

Aug

Sep

Oct

Nov

Dec

Jan

Feb

1! 31 11 21 1! 21 0 13 7 21 4
Mar

Apr

May

Jun

Jul

IB 1

16 21 13 27

Aug

Sep

Oct

1993

1992

Adjustment + Seasonal Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

Billions of Dollars

1.4

r-------- 1--------

1.2

1993

Billions

Aug 18
25
Sep 1
8

0.268
0.254
0.356
0.856

22

0.3 30

1.4
1.2
1.0
0.8

0.6

0.6

0.4

0.4

0.2

0.2
i I-'" MM '11 i~r ^ i

5 19

Aug

2

t

r i ■ i Li ' i ' i ■ r ■ i" * ~i

IS 30 14 28 II 25 ) 23 6 20

Sep

Oct

Nov

Dec

Jan

■ i ■■ r

i •»■

rM

1 1 VP'

’ i '-r MM ' 1 ■

3 1/ 3 17 31 14 21 12 26

9 23 7 21

4 18 1

Feb

Jun

Aug

Mar

1992

Apr

May

Jul

IS 29 13 27

Sep

Oct

1993

Latest data plotted week ending: September 22, 1993


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

1993

Billions of Dollars

Not Seasonally Adjusted

Billions

Aug 11
Sep

5 19 2
Aug

1 157.981
157.982

16 30 H 21 II 25 5 23 6 20 3
Sep

Oct

Nov

Dec

Jan

17 3

17 31 11 20 12 20 9 23 7 21 1

Feb

Mar

Apr

May

Jun

18 1

15 29 13 27

Aug

Sep

Oct

Latest data plotted week ending: September 15, 1993

Commercial and Industrial Loans17
n ii
Billtona of DollarsSeasonally Adjusted

Weekly Reporting Large Commercial Banks2/
Billions of Dollars

-------- 1--------- 1---------Compounded annu
rates of change,
average of the fou
weeks ending
September 8, 1993 from
the four weeks enc ing:
Sep 9, 1992 - 2.8
Dec 9, 1992
t.6
Ma 10. 1993 - 2.7
Ap
7, 1993 - .6
Ma) 5, 1993
3.7
Jur 9, 1993 - 2.4
Ju

315
305
295

--------- 1-------1993

325

Billions

Aug i 4
1
18
25
Sep 1
8

274.919—
272.651
272.764
271.588
273.043
271.249
—

315
305
295

285

285

275

275

265

5

It 2 1! 30 14 28 II 25 1 23 t 20 3 I7

Aug Sep

Oct
1992

Nov

Dec

Jan

3

I7 3I I4 28 I2 28

Feb Mar

Apr

1 23 7 21

May
Jun
1993

Jul

4

18 1

Aug

15 !t 13 27
Sep

Oct

Latest data plotted week ending: September 8, 1993
1/ Commercial and industrial loans include banker's acceptances and commercial paper.
2/ Banks with domestic assets greater than $1.4 billion
„
,
...
Prepared by Federal Reserve Bank of St. Louis


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

11

265

Dollar's Trade-Weighted Exchange Index
1973=100

1973=100

Averages of Daily Figures

1993 1973=100
Aug 18
Sep

1

5 19 2 16 30 U 28 11 25 9 23 6 20 3 17 3 17 31 14 28 12 26 9 23 7 21 4 18 1 15 29 13 27
Aug Sep Oct
Nov Dec Jan
Feb Mar Apr May Jun
Jul
Aug
Sep Oct
1992
1993
Latest data plotted week ending: September 22, 1993
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

>-

ft;

w
w

>
W

ft; 03
w in

05 ,J fV