Full text of U.S. Financial Data : September 24, 1992
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of 6t. Louie U.S. Financial Data THE WEEK'S HIGHLIGHTS: The Ml money stock increased at a 9.2 percent annual rate during the last six months, compared with a 16.2 percent rate of increase six months before that. t/ The yield on the three-month Treasury bills for the week ending September 25 fell to 2.92 percent. The T-bill yield was 5.16per cent one year ago. »/ Privately owned housing starts for August were at a seasonally adjusted annual rate of1,237,000 units, up 10.4 percent from July. During the first eight months of this year, 822,700 units were started, up 20.2 percent from the same period a year earlier. • t/ The U.S. dollar’s trade-weighted exchange index rose for the week ending September 23 to 84.5 percent of its 1973 value; this was the third consecutive weekly increase. The dollar index has now reached its highest level in 13 weeks. Views expressed do not necessarily reflect official positions of the Federal Reserve System. 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Checks from foreign subscribers must be payable in U.S. dollars and, except for those from Canada, must be drawn on a U.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 Jul 8 _ Aug 5 Billions of Dollars Billions Sep 2 362.7 366.6 372.2 371.4 376.9 7 21 4 18 2 16 30 13 27 11 25 8 22 5 19 4 18 1 15 29 13 27 10 24 Aug Sep 8 22 5 19 2 16 30 14 28 Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 1991 1992 Latest data plotted reserve maintenance period ending: September 16, 1992 The adjusted monetary base is the sum of reserve accounts of financial institutigns 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 sourcg 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 T ,, , Compounded annual rates of change, average of two maintenance periods ending: I o tne average or g/18/9l 12/11/91 2/19/92 3/18/92 4/15/92 5/13/92 6/10/92 7/22/92 two maintenance periods ending: 2/19/92 3/18/92 4/15/92 5/13/92 8/10/92 7/22/92 8/19/92 9/16/92 9.7 9.8 8.9 8.9 8.7 7.9 9.0 9.4 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11.4 9.6 9.6 9.1 7.9 9.4 9.9 6.8 7.6 7.4 6.1 8.4 9.2 6.3 6.4 5.2 8.1 9.0 8.0 5.7 9.2 10.1 4.2 9.1 10.2 10.1 11.3 Prepared by Federal Reserve Bank of St. Louis Money Stock (Ml) and Total Checkable Deposits Averages ot Daily figures Seasonally Adjusted Billions of Dollars 1992 Billions of Dollars M1 Billions -Aug 10 17 24 31 ‘ “ Sep 7 972.2 975.4 972.5 978.8 983.5 986.3 TCD (rig ht scale) / M1 (left scale) TCD 1992 Aug 10 17 24 31 Sep 7 14 Billions 682.2 684.7 681.7 — 590 687.3 689.4 692.5 5 19 2 16 30 14 20 11 25 9 23 6 20 3 17 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 12 26 Aug Sep Oct 1991 Nov Dec Jan Feb Mar Apr May Jun 1992 Jul Aug Sep Oct Latest data plotted week ending: September 14, 1992 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 .u.rnn(1 Compounded annual rates of change, average of four weeks eroding: lotne average g/16/gi 12/16/91 2/17/92 3/16/92 4/13/92 5/11/92 6/15/92 7/13/92 of four weeks ending: 2/17/92 3/16/92 4/13/92 5/11/92 6/15/92 7/13/92 8/17/92 9/14/92 15.2 16.2 14.1 14.1 13.1 11.7 12.4 12.7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 20.3 15.5 15.2 13.5 11.4 12.4 12.8 11.0 12.0 10.4 8.1 10.0 10.8 7.3 7.1 5.0 7.9 9.2 9.9 6.3 9.5 10.7 3.0 8.3 10.0 Prepared by Federal Reserve Bank of St. Louis 3 4 Adjusted Reserves Billions of Dollars Seasonally Adjusted Billions of Dollars 92 1992 Jul Billions 8 SO 22 88.2 Aug 5 88.2 Sep 2 88.3 18 16 11 12 10 78 7 21 4 18 2 IS 30 11 27 11 25 8 22 5 1! 4 18 1 15 29 13 27 10 24 8 22 5 19 2 16 30 14 28 Aug Sep Oct Nov Dec Jan Feb Mar Apr May 1991 Jun Jul Aug Sep Oct 1992 Latest data plotted two weeks ending: September 16, 1992 Adjusted reserves is the difference between adjusted monetary base and currency component of M1. Adjusted Reserves Compounded annual rates of change, average of two maintenance periods ending: To the average of 9/18/91 12/11/91 2/19/92 3/18/92 4/15/92 5/13/92 6/10/92 7/22/92 periods ending: 2/19/92 3/18/92 4/15/92 5/13/92 6/10/92 7/22/92 8/19/92 9/16/92 14.8 17.7 15.9 15.3 14.7 10.9 12.4 12.3 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 24.1 19.5 17.9 16.5 10.9 13.0 12.7 19.0 16.3 14.5 7.1 10.4 10.5 7.7 8.2 1.7 6.4 7.0 10.1 0.9 6.8 7.5 -2.9 5.6 6.7 4.2 6.0 20.2 Prepared by Federal Reserve Bank of St. Louis 76 Money Multiplier1/ Averages of Daily Figures Seasonally Adjusted Ratio Rat'° Compounded annual rates of change, average of the four weeks ending September 14, 1992 from the four weeks ending: Sep 16, 1991 3.0 Mar Apr Ma) Jur Ju 16. 13. 11. 8, 20. 5 19 Aug 1 1 1992 Ratio Jul 6 20 Aug 3 17 31 2.631 2.615 2.616 2.617 2.627 992 ).5 992 ).5 992 3.2 992 -<).4 992 ).0 2 16 30 14 28 11 25 9 23 6 20 3 17 2 16 30 13 27 11 25 8 22 6 20 3 17 31 14 28 12 26 Sep Oct Oct Nov Dec Jan Feb Mar Apr 1991 Latest data plotted two weeks ending: September 14, 1992 May Jun 1992 Jul Aug Sep Currency Component of M12/ Averages of Daily Figures Seasonally Adjusted Billions of Dollars 235 Billions of Dollars 295 I--------- 1----------f Compounded annual rates of change, average of the four weeks ending September 14, 1992 from the four weeks ending: Sep 16, 1991 Dec Mar Apr May Jun Jul 1992 1992 1992 1992 1992 16, 16. 13 11. 15, 13. 10.8 11.4 13.4 17.2 1992 Aug 10 17 24 ................. I 1 I ^ T 1 1 5 19 Aug 2 16 30 14 28 11 25 9 23 Sep Oct 1991 Nov Dec l ■ I ■ 6 20 Jan ■ I ■ 3 17 Feb 1 I ' 2 ' 1 ' II i I I i I I i I i 16 30 13 27 11 25 8 22 6 20 Mar Apr May Jun 1992 Jul Billions 282.2 — 282.7 2B2.7 283.5 286.0 i I i f i I ■ I1 3 17 31 14 28 12 26 Aug Sep Oct Latest data plotted week ending: September 14, 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 I 6 1 Yields on Selected Securities Percent Percent Averages of Daily Figures Aaa Bonds -Loan Ratr 8 22 5 1! 13 27 11 25 8 22 Aug Sep Oct 1991 Nov Dec Jan Feb Mar Apr May Jun 1992 17 31 14 28 Jul Aug Sep Oct Latest data plotted are averages of rates available for the week ending: September 25, 1992 1992 Jul 3 10 17 24 31 Aug 7 14 21 28 Sep 4 11 18 25 * 90-Day CDs 30-Day Commercial Paper 90—Day Bankers' Acceptances Corporate Aaa Bonds Corporate Baa Bonds Municipal Bonds ** 3.75 3.37 3.34 3.32 3.32 3.32 3.28 3.28 3.34 3.28 3.08 3.07 3.14 3.80 3.45 3.42 3.40 3.36 3.39 3.35 3.37 3.39 3.37 3.17 3.18 3.25 3.66 3.33 3.28 3.29 3.29 3.28 3.25 3.26 3.31 3.25 3.05 3.05 3.12 8.16 8.08 8.09 8.06 8.01 7.99 7.93 7.91 7.97 7.93 7.87 7.91 7.96 8.98 8.89 8.87 8.82 8.71 8.68 8.62 8.62 8.69 8.64 8.54 8.58 8.67 6.38 6.17 6.16 6.05 5.89 6.06 6.05 6.21 6.31 6.24 6.16 6.27 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 Averages of Daily Figures 2 IB 30 13 11 Aug 25 8 22 6 20 3 17 31 14 28 13 27 10 24 8 22 5 19 3 17 31 14 28 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug 1991 1992 Latest data plotted are averages of rates available for the week ending: September 25, 1992 1992 Jul 3 10 17 24 31 Aug 7 14 21 28 Sep 4 11 18 25 * Federal Funds ** 3.87 3.24 3.28 3.22 3.18 3.33 3.24 3.33 3.27 3.33 3.09 3.28 3.07 3—Month Treasury Bill 6—Month Treasury Bill *** 3.48 3.22 3.19 3.17 3.18 3.16 3.11 3.07 3.16 3.10 2.91 2.89 2.92 3.66 3.32 3.31 3.24 3.27 3.30 3.19 3.18 3.24 3.26 2.95 2.90 2.93 1 —Year Treasury Bill 5—Year Treasury Securities Sep Oct Long-Term Treasury Securities 3.79 6.22 7.56 3.48 5.93 7.42 3.38 5.85 7.45 3.38 5.74 7.36 3.43 5.70 7.20 3.39 5.69 7.18 3.28 5.53 7.08 3.26 5.48 7.11 3.38 5.69 7.23 3.26 5.48 7.13 3.04 5.26 6.95 3.03 5.37 7.02 3.07 5.51 7.13 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 7 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 Aug 10 17 24 31 Sep 7 14 3470.1 3468.7 3465.6. 3472.3 3477.3 3479.4 M2 (left scale) Non-M1 M2 (right scale) Non-M1 M2 1992 Billions Aug 10 17 24 31 Sep 7 14 5 IS Aug 2 16 30 14 20 11 25 9 23 6 20 Sep Oct 1991 Nov Dec Jan 3 17 2 16 30 13 27 11 25 8 22 Feb Mar Apr May Jun 1992 2497.9 2493.3 2493.1 2493.5 2493.8 2493.1 6 20 3 17 31 14 28 12 26 Jul Aug Sep Oct Latest data plotted week ending: September 14, 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) Compounded annual rates of change, average of four weeks ending: To the average 9/16/91 12/16/91 2/17/92 3/16/92 4/13/92 5/11/92 6/15/92 7/13/92 ending: 2/17/92 3/16/92 4/13/92 5/11/92 6/15/92 7/13/92 8/17/92 9/14/92 3.6 3.8 2.7 2.5 2.1 1.5 1.6 1.7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 4.4 2.4 2.1 1.5 0.8 1.0 1.2 0.3 0.5 0.1 -0.6 -0.1 0.4 -1.6 -1.3 -1.9 -1.0 -0.3 -0.1 -1.2 -0.3 0.4 -2.1 -0.6 0.3 -0.5 0.7 2.7 Prepared by Federal Reserve Bank of St. Louis Savings and Money Market Funds Averages of Daily Figures Seasonally Adjusted Billions of Dollars Billions of Dollars Savings 1992 Billions Aug 10 17 24 31 Sep 14 11 42.4 11 45.8 1147.0 1148.9 1158^4 Money Market (right scale) Money Market 1992 Savings Deposits (left scale) Billions Aug 10 17 24 31 Sep 7 14 5 IS 2 16 30 14 28 11 25 9 23 6 20 3 17 2 16 30 13 27 11 25 Aug 346.9 348.0 — 347.6 348.3 345.0 343.2 8 22 6 20 3 17 31 14 28 12 26 Sep Oct Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep 1991 1992 Note: Savinas deposits are at all depository institutions. Money market funds are general purpose and broker/dealer. . Oct Large and Small Time Deposits17 All Depository institutions Averages of Daily Figures, Seasonally Adjusted Billions of Dollars Billions of Dollars Small Time 1992 Aug 10 17 24 31 Sep 7 14 (right scale) Billions 929.9 926.5 923.5 920.7 — 918.0 914.9 Large Time (left scale) Large Time 1992 Billions — Aug 10 384.9 17 383.7 24 383.1 31 380.1 Sep 7 381.0 14 378.8 5 19 2 16 30 14 28 11 25 9 23 6 20 3 17 2 16 30 13 27 11 25 8 22 Aug Sep Oct 1991 Nov Dec Jan Feb Mar Apr May Jun 1992 20 3 17 31 14 28 12 26 Aug Sep Oct Latest data plotted week ending: September 14, 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 10 Total Borrowings From Federal Reserve Banks Averages of Daily Figures Billions of Dollars 1992 Billions of Dollars Billions _ Aug 19 26 Sep 2 9 16 23 0.268 . 0.267 0.249 0.214 0.426 0.218 7 21 4 18 2 16 30 13 27 11 25 8 22 5 IS 4 18 1 15 29 13 27 10 24 8 22 5 19 2 16 30 14 28 Aug Sep Oct 1991 Nov Dec Jan Feb Mar Apr May Jun 1992 Jul Aug Sep Oct Adjustment + Seasonal Borrowings From Federal Reserve Banks Averages of Daily Figures Billions of Dollars 2.5 2.0 —1 2.5 1992 Billions Aug 19 0.268 2 9 16 23 0 .249 0 .214 0 .426 0 .218 Sep Billions of Dollars 1 2.0 1.5 1.5 1.0 0.5 0.0 0.5 ' 1 ' lT-'"T r -T- l-r-T frf'J rrt 7 21 4 18 I 16 30 13 27 II 25 8 22 5 19 4 18 1 15 29 13 27 Aug Sep Oct 1991 Nov Dec Jon Feb Mar Apr 10 24 0 22 5 19 2 IE 30 14 21 May Jun 1992 Jul Aug Sep Oct Latest data plotted week ending: September 23. 1992 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis Prepared by Federal Reserve Bank of St. Louis 0.0 Commercial Paper of Nonfinancial Companies Billions of Dollars 1992 Billions of Dollars Not Seasonolly Adjusted Billions Aug 12 Sep 2 7 21 4 18 2 16 30 13 27 Aug Sep Oct Nov 25 8 22 5 19 4 18 1 15 29 13 27 10 24 I 22 5 19 2 16 30 14 28 Dec Jan Feb Mar Apr May Jun Aug Sep Oct Latest data plotted week ending: September 16, 1992 Commercial and Industrial Loans17 Weekly Reporting Large Commercial Banks2/ 7 H Seasonal!? Adjusted Billions of Dollars 340 320 Billions of Dollars --------1—i— 390 —I---------(----------Compounded ann jal rates of change, average of the foL r weeks ending September 9. 1992 from the four weeks en ding: Sep 11. 1991 -7.9 Dec 11. 1991 -7.9 Mar 11, 1992 -9.3 Apr 8, 1992-1 0.5 May 6, 1992-1 0.5 Jun 10, 1992-1 0.2 1992 Billions 12 19 26 Sep 2 9 276.711 276.818 275.547 275.896 274.843 360 - 320 280 260 340 280 ' l 7 21 Aug ' "1 i 1 i ■ l ■ i TT-tT* "~T~I -| 4 Ml'1 II 23 0 22 6 1! 4 10 1 Sep Dec Feb Oct 1991 Nov Jan ^ i ' r 1T1 • 4 18 ! IS 30 13 27 Mar IS 29 13 27 Apr T~r 1 i 10 24 I 22 5 11 2 14 30 14 28 May Jun Jul 1992 Aug Sep Oct Latest data plotted week ending: September 9, 1992 1/ Commercial and industrial loans include banker's acceptances and commercial paper. 2/Banks with domestic assets greater than t1.+billion n r . 1Q ■ Prepared by Federal Reserve Bank of St. Louis http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11 260 Dollar’s Trade-Weighted Exchange Index 1973=100 1973*100 Averages of Daily Hgures 1992 1973=100 Aug 19 Sep 2 7 21 4 18 2 16 30 13 27 11 25 8 22 5 1! 4 18 1 15 28 13 27 10 24 8 22 5 19 2 It 30 14 28 Aug Sep Oct Nov 1991 Dec Jan Feb Mar Apr May Jun Jul Aug Sep Oct 1992 Latest data plotted week ending: September 23, 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