Full text of U.S. Financial Data : September 29, 1994

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U.S. Financial Data

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THE WEEK'S HIGHLIGHTS:
✓ According to the final estimate, real gross domestic product (GDP)
rose at a revised 4.1 percent annual rate in the second quarter, up
0.3 percentage points from last month's preliminary estimate. The
final estimate was boosted largely by additional inventory accumu­
lation. Real GDP has also increased 4.1 percent over the past
four quarters.
August sales of new single-family homes were at an annual rate of
703,000, 9.7percent higher than the revised July rate of641,000 and
up 9 percent from August 1993.
✓ Following a 4 percent decrease in July, advance new orders for
manufactured durable goods rebounded strongly in August, increasing
6 percent to $154 billion.
✓ The Conference Board’s index of consumer confidence, which
averaged 100 in 1985, decreased 2 percentage points in September
to 88.4, its third consecutive monthly decline.
✓ Bank reserves adjusted for reserve requirements have declined
at a 2.5 percent rate from the average of the two weeks ending
on February 16, 1994, to the average of the two weeks ending on
September 14 (see page 4). Compared with a year earlier, however,
adjusted reserves have risen 2.6 percent.
All data are seasonally adjusted unless otherwise indicated.
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 $21 for one year (50 issues) or
$36 for two years (100 issues). For more information or to request an order form, please call
(314) 444-8808 or (314) 444-8809.
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.


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

■

2
Adjusted Monetary Base
Averages of Daily ngures
Seasonally Adjusted

Billions of Dollars

1994

450 “Aug 3
tt

Sep 14

Billions of Dollars

Billions
446.i
A AG i
450.6

4 II 1 IS 21 1] !7 ID 24 I 22 S II 2 II 2 1i !0 IJ 27 II 25 II 22 6 21 3 17 11 14 21 12 21
Aug Sep Oct
Nov Dec Jan
Feb Mar Apr
May Jun Jul
Aug Sep
Oct
1993
1994
Latest data plotted reserve maintenance period ending: September 28, 1994
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 depositoryinstitutionsj and an
adjustment for reserve requirement ratio.changes. The major source of
adjusted monetary Basejs 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:
To the average of g/2g/93 12/22/93 3/2/94 3/30/94 4/27/94 5/25/94 6/22/94 8/3/94
two maintenance
periods ending:
3/2/94
3/30/94
4/27/94
5/25/94
6/22/94
8/3/94
8/31/94
9/28/94

10.6
9.2
9.4
8.7
8.7
8.6
8.6
8.4


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

12.7
12.2
10.6
10.4
9.9
9.7
9.3

6.1
5.3
6.2
6.7
6.8
6.7

7.1
7.7
7.8
7.8
7.5

6.2
7.0
7.1
7.0

8.4
8.2
7.7

7.9
7.4

Prepared by Federal Reserve Bank of St. Louis

Money Stock (M1) and Total Checkable Deposits
Averages ot Daily Hgures
Seasonally Adjusted

Billions of Dollars

M1
1994 Billions
kug 15 1148.3
22 1154.2
29 1154.4
»ep 5 1155.4
12 1152.5
19 1151.2

Billions of Dollars

M1 (left scale).

TCO (right scale)

Billions
Aug 15
Sep 5

2 It
Aug

30 13 27 11 25 8 22 5 20 3 17 31 11 20 14 28 11 25 3 23 i 20 4 10
Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

1993

Jun

Jul

795.3
800.4
798.9
800.1
797.7
795.9

1 15 29 12 2i 10 24
Aug

Sep

Oct

1994

Latest data plotted week ending: September 19, 1994
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)
Compounded annual rates of change, average of four weeks ending:
To the average 9/20/93 12/20/93 2/21/94 3/21/94 4/16/94 5/16/94 6/20/94 7/1B/94
ending:
2/21/94
3/21/94
4/18/94
5/16/94
6/20/94
7/18/94
8/22/94
9/19/94

7.6
7.2
6.6
5.2
5.3
5.1
4.9
4.6


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

5.4
4.8
3.0
3.4
3.5
3.4
3.2

3.8
1.0
2.3
2.6
2.6
2.5

-0.9
1.5
2.1
2.2
2.1

0.9
1.8
2.1
2.0

4.7
4.0
3.4

3.3
2.7

2.2

Prepared by Federal Reserve Bank of St. Louis

3

4

Adjusted Reserves
Billions of Dollars

Seasonally Adjusted

Billions of Dollars
m

1994
Jul

6
20
Aug 3
17
31
Sep 14

Billions
102.0
105.2
102.4
105.0
103.1
104 0

IDE

102

98

94

4 II 1 IS 25 13 27 10 24 8 22 5 19 2 U 2 IS 30 13 27 11 25 8 22
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

20 3 17 31 14 28 12 21
Jul

Aug

Sep

Oct

1994
Latest data plotted two weeks ending: September 14, 1994
Adjusted reserves is the difference between adjusted monetary base and currency component of M1.

Adjusted Reserves
To the average of

Compounded annual rates of change, average of two maintenance periods ending:
7/20/94
9/15/93 12/8/93 2/16/94 3/16/94 4/13/94 5/11/94 6/8/94

periods ending:
2/1S/94
3/16/94
4/13/94
5/11/94
6/8/94
7/20/94
8/17/94
9/14/94

10.1
7.7
4.7
3.7
3.7
3.2
3.0
2.7


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

11.4
5.5
3.8
3.8
3.1
2.9
2.4

-8.9
-7.2
-4.6
-3.3
-2.6
-2.5

-8.4
-4.5
-3.0
-2.2
-2.1

0.0
0.0
0.3
0.0

1.5
1.4
0.8

0.5
0.0

0.0

Prepared by Federal Reserve Bank of St. Louis

90

•

•

Money Multiplier1/

Ratio

Ratio

seasonally Adjusted
Compounded annual
rates of change,
average of the four
weeks ending
September 12. 1994 from
the four weeks ending:
Sep
Dec
Mar
Apr
May
Jun
Jul

13,
20,
14.
25,
23.
20,
18.

1993
1993
1994
1994
1994
1994
1994

Ratio

-3.2
-5.3
-4.2
-4.2
-3.5
-3.6
-3.5

4

Aug

1

Sep 12

22 8 20 3 17 31 14 28 14 28 11 25 9 23 8 20
Aug

Jul

Sep

Oct
Nov
Dec
Jan
Feb Mar
Apr
1993
Latest data plotted two weeks ending: September 12. 1994

May
Jun
1994

Jul

2.574
2.594
2.554
2.569
2.561

15 29 12 28 II 24

Aug

Sep

Oct

Currency Component of M12/
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

355

315

335

Billions of Dollars

355

---------1--------- 1--------Compounded annu al
rates of change,
average of the four
weeks ending
. September 19, 1994 from
the four weeks end ng:
Sep 20. 1993 1C .3
Dec 20. 1993 1C .9
Mar 21. 1994
.4
May 16, 1 994
Jun 20, 1 994
Jul 1B, 1 994

315

335

.1
.9
.2

325

325
199 ±
Aug 15
22
29
Sep 5
12
19

315

305

2 li 31 13 27 II 15 I 21
Aug

Sep

Oct Nov

6 20 3 12 31 11 21 11 20 II 25 1 23 t 10 1 II
Dec

Jan

Feb

Mar

Apr

1993

May

Jun

Jul

Bill] ons
34 4.8
34 5.5
347.0 “
347.0
346.3
346.9

1 15 2) 12 II 10 21
Aug

Sep

Oct

1994

Latest data plotted week ending: September 19, 1994
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

315

305

6
Yields on Selected Securities

Percent

Percent

Averoges of Doily Figures

Corporate

Prime Bank
Loan Rate

Commercial

15 29 12 2$ 10 24 7 21 4 II
Aug

Sep

Oct
1993

Nov

Dec

Jan

Feb

II I 15 29 13 27 10 24
Mar

Apr

May
Jun
1994

2 II 30
Jul

Aug

Sep

Oct

Latest data plotted are averages of rates available for the week ending: September 30, 1994

1994
Jul

8
15
22
29
Aug 5
12
19
26
Sep 2
9
16
23
30 *

30—Day
Commercial
Paper

90-Day
CDs

90—Day
Bankers'
Acceptances

Corporate
Aaa Bonds

Corporate
Baa Bonds

Municipal
Bonds **

4.53
4.55
4.44
4.46
4.45
4.54
4.74
4.79
4.80
4.82
4.87
4.93
5.01

4.78
4.78
4.65
4.70
4.68
4.79
4.86
4.87
4.88
4.89
4.96
5.08
5.17

4.72
4.69
4.59
4.61
4.61
4.71
4.60
4.79
4.81
4.81
4.88
5.01
5.09

8.18
8.17
8.06
8.05
7.96
8.12
8.07
8.13
8.09
8.22
8.32
8.41
8.46

8.87
8.86
8.75
8.74
8.64
8.79
8.73
8.79
8.76
8.88
8.97
9.04
9.08

6.27
6.22
6.22
6.22
6.16
6,25
6.22
6.21
6.16
6.18
6.24
6.37

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

3-Month
-Treasury Bill
Funds Rate

3.0
Discount Rate

6 20 3 17 1 15 29 12 26 10 24 7 21 4 16 4 18 1 15 29 13 27 10 24 8 22 5 19
Aug

Sep

Oct

Nov

Dec

Feb

Mar

Apr

May

Jun

Jul

Aug

16 30 14 28
Sep

Oct

Latest data plotted are averages of rates available for the week ending: September 30, 1994

1994

Jul

8
15
22
29
Aug 5
12
19
26
Sep 2
9
16
23
30 *

Federal
Funds **
4.38
4.30
4.30
4.28
4.28
4.26
4.35
4.66
4.72
4.74
4.70
4.73
4.66

3—Month
Treasury
Bill

1 —Year
Treasury
Bill

5-Year
Treasury
Securities

1 0—Year
Treasury
Securities

Long-Term
Treasury
Securities

4.28
4.37
4.30
4.39
4.34
4.40
4.56
4.55
4.56
4.56
4.59
4.71
4.68

5.19
6.95
7.34
7.64
5.18
6.97
7.36
7.65
5.10
6.83
7.23
7.52
5.22
6.89
7.26
7.52
5.12
6.77
7.15
7.41
5.29
6.96
7.31
7.58
5.30
6.90
7.24
7.53
5.31
6.92
7.27
7.58
5.26
6.83
7.21
7.52
5.30
6.95
7.33
7.65
5,38
7.05
7.44
7.76
5.53
7.17
7.54
7.84
5.56
7.22
7.58
7.B8
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


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

Prepared by 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

M2
1994

Billions

Aug 15
22
29
Sep 5
12
19

3596.9
3600.5
3597.5.
3594.0
3595.3
3594.2

Billions ol Dollars

M2 (left scale)

M2 (right scale)
Non-M1 M2

2 IS 30 13 27 11 25 8 22
Aug

Sep

Oct

Nov

6 20 3 17 31 14 21 14 28 11 25 S 23 S 20
Dec

Jan

Feb

Mar

Apr

May

1994

Billions

Aug 15
22
29
Sep 5
12
19

2448.6
2446.3
2443.1
2438.6
2442.8
2443.0

4 18 1 15 28 12 2S II 24
Jul

Jun

Aug

Sep

Oct

1994

1993
Latest data plotted week ending: September 19, 1994
Current data appear in the Federal Reserve Board's 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, 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 9/20/93 12/20/93 2/21/94 3/21/94 4/18/94 5/16/94 6/20/94 7/18/94
ending:
2/21/94
3/21/94
4/1B/94
5/16/94
6/20/94
7/18/94
8/22/94
9/19/94

1.4
1.9
2.3
1.9
1.8
1.8
1.7
1.5


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

1.5
2.3
1.7
1.5
1.6
1.5
1.2

4.7
2.8
2.2
2.2
1.9
1.5

1.9
1.5
1.6
1.4
1.0

0.1
0.7
0.7
0.3

1.4
1.2
0.6

1.4
0.5

-0.1

Prepared by Federal Reserve Bank of St. Louis

Savings and Small Time Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars
1295 --------- 1--------- 1---------

Billions of Dollars
----------I--------- 1--------- 195

Savings
1994

1255

Small Time

Billions

Aug 1 5 11 94.2
22 1194.8
29 1194.3
12 11 8.9
19 11 £ 5.9

1994

Billions

Aug 15
22
29

777.4
777.9
778.9

12
19

78 1.9
78 4.4

Savi ig« De >o«tt«( eft sea le)

855

815
Sim II Time (right scale)

•*» ^

1175

1135

775

—^

! If 30 13 !7 11 25 0 22
Aug

Sep

Oct
1993

Nov

f 20 3 17 31 14 20 14 !i 11 25

0 23 f 20 4 II I 15 29 12 21 10 24

Dec

May Jun
1994

Jan

Feb Mar

Apr

Note: Savings deposits are at all depository institutions.

Jul

Aug

Sep

735

Oct

Large Time Deposits and Money Market Funds1/
All Depository Institutions
Averages of Daily Figures. Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Large Time
1994 Billions
Aug 1 5
22
29
-Sep 5
12
19

Money Market
1994 Billions

340.2
339.5
340.8
341.8­
344.4
345.5

Aug 15
22
29
Sep 5
12
19

364.5
363.9
359.6
358.0 —
362.0
364.1

2 If 30 13 27 11 25 8 22 6 20 3 17 31 14 28 14 28 11 25 9 23 i 20 4 18 1 IS 28 12 2$ 10 24
Aug

Sep

Oct
1993

Nov

Dec

Jan

Feb

Mar

Apr

May Jun
1994

Jul

Aug

Sep

Oct

Latest data plotted week ending: September 19, 1994
1/ Large time deposits are those issued in denominations of $100,000 or more.
Money market funds are general purpose and broker/dealer.
Prepared by Federal Reserve Bank of St. Louts


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

9

10
Total Borrowings
From Federal Reserve Banks
Averages of Daily Figures

Billions of Dollars

1994

Billions

Aug 24

0.485
0.511
0.461
0.433
0.503
C.566

Sep

7

Billions of Dollars

4 18 1 15 2! 13 27 II 24 I 22 S IS 2 tS 2 16 30 13 27 11 25 I 22 6 20 3 17 31 14 21 12 26
Aug

Sep

.

.

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

1993

Jun

Jul

Aug

Sep

Oct

1994

Borrowings include seasonal, adjustment and extended credit; extended credit was $1 million in the week ending
July 20. 1994 and was zero in the other weeks shown in the chart.

Bank Loans and Credit
3325
3275
3225

V

All Commercial Banks in the United States
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

2450

-------- 1--------- —
Bank Cr edit
1994 fiil ions

2400

Aug 10
17
24
31

32 46.2
32 47.3
32 62.7
32 69.1
^3. j
14 32 60.8

2350
Beink Cr*dit (lef : scale )2/ /

3175

s

2300

^/

✓

3125

2250
'w

Loan stScLea ses

*

3075

V

1994
Aug 10
17
24
31
Sep 7
14

/*

't/s'

Li •one

3025
2975

“

an d Leas

(rig it seal 0

Billie
2284.0
2284.7
2294.8
2302.4
2296.8
2294.5

4 II 1 15 21 13 27 10 2* I 22 5 19 2 It 2 It 30 13 27 11 25 I 22 t 20 3 17 31 14 21 12 2i
Aug

Sep

Oct

Nov

1993

Dec

Jan

Feb

Mar

Apr

Latest Wednesday data plotted : September 14, 1994
Current data appear In the Federal Reserve Board's H.8 release.
1/ Includes foreign-related institutions
2/ Includes loans and leases and securities


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

May
Jun
1994

Jul

Aug

Sep

Oct

Prepared by Fedora' Reserve Bank of St. Louis

2200

2150
2100

Commercial Paper of Nonfinancial Companies

Billions of Dollars

1994

Billions of Dollars

Not Seasonally Adjusted
Billions

Aug 17 150.105
149.180
Sep 7 148.938
148.341
155.605

I

U 1 IS 2! 13 11
Aug Sep
Oct
1993

II 21 ! 2! 5 I)
Nov Dec
Jon

2

ID 2 11 ID 1] 27 II 25 I 2! I 20 ] 17 31 II 21 1! 21
Feb Mar
Apr May Jun
Jul
Aug
Sep
Oct
1994

Latest data plotted week ending: September 21, 1994

Commercial and Industrial Loans

Billions of Dollars

(30
020
(ID

Billions of Dollars

330

--------1---------1--------All Banks
-

1994

Billions

17
24
31
Sep 7
14

621.7
623.4
622.9
624.1
623.5

/* **

320
310
. /"

/
Al Banks (left s :ale)^

300

f

N

/

60S

*

550
/_

x
5BD

-*• —

f*'
• v'

3e Ban ks__
Billie ns
Aug 1 0 301 .0
7 302 .8
2 4 302 .7
31 302.8
Sep 7 302.2
14 302.7
1994

—1
Large Banka (right scale

)2/

I

570

11
Aug

15
Sep

13 27 10 24 8 22 5 IS
Oct
Nov Dec
Jan
1993

MM
16
Feb

___
16 30___
13 27
Mar

Apr

Latest Wednesday data plotted : September 14. 1994
Current data appear in the Federal Reserve Board's H.8 release.
1/ Includes foreign—related institutions
2/ Weekly reporting, domestically chartered banks


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

11

'k

8 22 6 20
May
Jun
Jul
19 94

3

290
200

I

17 3 14 21 12 2
Aug
Sep
Oct

Prepared by Federal Reserve Bank of St. Louis

270

Dollar’s Trade-Weighted Exchange Index
1973=100

1973=100

Averages of Daily Figures

1124 1973=1 PP
Aug 24

Aug

1 IS 2! 13 27 10 24
Sep

Oct

Nov

22 5 1! 2 If 2 10 30 13 27 11 25 0 22 6 20 3 17 31 14 28 12 28

Dec

Jan

Feb

Mar

1993

Apr

May

Jun

Jul

Aug

Sep

Oct

1994

Latest data plotted week ending: September 28, 1994
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

C/3
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