Full text of U.S. Financial Data : September 30, 1983

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/

U. S. Financial Data
Federal

serve Bank of St. Louis

September 30,1983

fOJ0

JBRARY
>CT 3

1983

Over long periods, the adjusted monetary base and
Ml generally grow at about the same rate; their growth rates
frequently diverge, however, over shorter periods. This
divergence is due to the portfolio decisions of the public,
including financial institutions. The relationship between
these two aggregates is expressed by the money multiplier
(see page 5). Fluctuations of the multiplier cause Ml and the
adjusted monetary base to grow at different rates. These
fluctuations tend to cancel out over longer periods.
The table below shows that, since January 1982,
the annual growth rates of Ml and the adjusted monetary
base have diverged substantially for periods of several
months. This divergence resulted from fluctuations in the
multiplier occurring during most of this period; however, the
multiplier was approximately the same in September 1983 as
it was in January 1982. Since the fluctuations in the
multiplier cancelled out, Ml and the adjusted monetary base
grew at about the same rate over the entire period. The
table also shows that the growth rates of Ml and the adjusted
monetary base have slowed since June of this year to rates
considerably below those of the previous five months.
—Donald M. Brown
Compound Annual Growth Rates of Adjusted
Monetary Base and Ml \/
Period

Ml

1/27/82 - 9/21/83

9.0%

1/27/82 - 7/28/82
7/28/83 - 1/19/83
1/19/83 - 6/22/83
6/22/83 - 9/21/83

Adjusted monetary base

3.1
12.0
16.1
3.7

8.6%
7.6
8.1
13.0
4.6

1/ Four-week averages ending on dates shown.

Views expressed do not necessarily reflect official positions of this Bank or the Federal Reserve System.


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

BILLIONS OF DOLLARS
200

BILLIONS

198

196.2
196. I
197.0
196.7
197.4
196.5

196
194
192
190
188

180
178

4 IS

1

15 29

SEP

13 27

OCT
1982

10 24

NOV

8 22

3

Ifi

JAN

2 IS

2

IS 30

FEB

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 28,

IS 27

APR

11

25

8 22

6 20

3 17 31

14

12 26

MAY

1983

THE ADJUSTED MONETARY BASE CONSISTS OF: ( 1 > RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT
FEDERAL RESERVE BANKS, (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE
VAULTS OF ALL DEPOSITORY INSTITUTIONS), AND (3) AN ADJUSTMENT FOR RESERVE REQUIREMENT RATIO
CHANGES.
THE MAJOR 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 AVAIL­
ABLE FROM THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
9/29/82

12/29/82

10.8
l 1.3
10.9
10.8
10.9
10. 1
9.7
9.3

14.4
13.0
12.4
12.2
10.9
10.2
9.6

3/2/83

AVERAGE OF FOUR WEEKS ENDING:

3/30/83

4/27/83

5/25/83

6/29/83

7/27/83

9.2
10.0
8.3
7.8
7.3

10.7
8.2
7.6
7.1

7.4
6.9
6.4

4.5
4.6

5.4

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
3/ 2/83
3/30/83
4/27/83
5/25/83
6/29/83
7/27/83
3/31/83
9/28/83


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

1 1.2
10.8
10.9
9.3
8.7
8. 1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ADJUSTED RESERVES
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
56 ---------- 1------------- 1--------

ISM
AUG.

17

BILLIONS OF DOLLARS
--------------------------------- 56

BILLION?
54.4
53.8
54.6
53.9

4

1®

I

IS 29

IS 27 10 24

OCT
1982

NOV

6 22

5 19

2

JAN

FEB

16

2

16 SO IS 27

APR

II

2S

S 22

6 20

S

17 SI

MAY

14 2® 12 26

SEP

OCT

LATEST DATA PLOTTED WEEK ENDING. SEPTEMBER 21, 1983
Cma?A?ION(i0LKl CURRENCYHELD' BY^HE^ANK K RESERVE

ADJUSTED RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDINGi
9/22/82

12/22/82

2/23/83

3/23/83

4/20/83

1 1.8
15.0
13.6
1 1.3
12.8
1 1.3
10.3
9. 1

21.2
17.2
12.6
14.7
12.2
10.7
9.0

18.8
10.4
14. 1
10.8
9.0
7.1

0.0
8.5
5.9
4.9
3.4

10. 1
6. 1
4.9
3. 1

5/18/83

6/22/83

7/20/83

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/23/83
3/23/83
4/20/83
5/18/83
6/22/83
7/20/83
8/24/83
9/21/83


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

1 1 .3
7.9
5.0

0.0
-1.5

-1.1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

4
MONEY STOCK (Ml )

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
525

aiLUQNS
AUG.

520

517.0
515.6
513. I
518.4
515.5
517.8

515
510
505
500
495
490
485
480

475

475

—

470
465
460

—

4 18

I

15 29

13 27

OCT
1982

10 24

NOV

8 22

5 19

2

JAN

FEB

18

2 18 30 IS 27

11

25

8 22

8 20

3

17 31

14 28 12 28

SEP

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 21,

OCT

1983

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
Ml CONSISTS OF CURRENCY HELD BY THE NONBANK PUBLIC PLUS COfcirfERCIAL BANK DEMAND DEPOSITS
HELD BY THE NONBANK PUBLIC (EXCLUDING THOSE HELD BY FOREIGN BANKS AND OFFICIAL INSTITUTIONS)
AND OTHER CHECKABLE DEPOSITS OF ALL DEPOSITORY INSTITUTIONS PLUS TRAVELERS’ CHECKS.

MONEY STOCK (Ml )
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING*.
9/22/82

12/22/82

2/23/83

3/23/83

4/20/83

5/18/83

6/22/83

7/20/83

14.8
15.3
13.2
13.7
14.4
13.5
12.8
11 .6

16.4
12.5
13.4
14.5
13. i
12.3
10.8

9. 1
1 1.7
13.9
12. 1
11.2
9.4

8.7
12.6
10.7
10.0
8. 1

18.4
14.0
12. 1
9.5

12.6
10.7
7.8

6.3
3.7

3.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING*.
2/23/83
3/23/83
4/20/83
5/18/83
6/22/83
7/20/83
8/24/83
9/21/83


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY MULTIPLIER^
CURRENCY COMPONENT OF MONEY STOCK 2/
RATIO
2.9

AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
2.9

------- 1----------1-------- 1------1983

2.9

*UGSE P.

RATIO

a imi
7

_

if

Ml ML LTIPLI

■R

2.7

A-

2.6

2.5

*1

1 1

-Ll 1. -LJJ. IIM -U 1 -LLL Mil

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 21,

111

111

Mil

1 1 1 -LI 1 1

111

1983

I ILL IONS OF DOLLARS

BILLIONS OF DOLLARS
I 46

COMPOUNDED ANNUAL RATES
---- OF CHANGE. AVERAGE OF
THE FOUR *EEKS ENDING
“ SEPTEMBER 21. 1983 FROM
— THE FOUR WEEKS ENDING: .
—

JUL. 20,
JUN. 22,
— MAY
18,
— APR. 20,
MAR. 23,
— DEC. 22,
SEP. 22,

1983
1983
1983
1983
1983
1982
1982

144
142

8.1
7.0
7.9
9.0
8.8
10.3

140
CURRENCY
138

1983,
AUG.

4 16

IS 27 10 24
OCT
NOV

• 22

3 10
JAN

2 16
FEB

2 16 SO IS 27 11 25
APR
MAY

6 22

17

BILLIONS
141.6
141.9
142.3
142.4
142.8
143.0

130
128

1111111111111111
6 20 S 17 SI 14 26 12 26
SEP

OCT

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 21, 1983
1/ RATIO OF MONEY STOCK (Ml ) TO ADJUSTED MONETARY BASE
2/ CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS* H.6 RELEASE.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

132

6
YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
17.0

CORPORATE
Aaa BONOS

PRIME BANK
LOAN RATE
MUNICIPAL
BONDS

B 20

3

AUG

SEP

4

17

JAN

18

FEB

4 18

I

19 29 13 27 10 24

8 22

3 19

2 16 30 14 28

MAR

1982
LATEST DATA PLOTTED ARE AVERAC^

1983
AUG.

SEP.

OCT.

5
12
19
26
2
9
16
23
30 *
7
14
21
28

90 DAY
CD'S
9.82
9.99
9.78
9 49
3.73
-54
.43
3.34
9. 17

RATES AVAILABLE FOR THE WEEK ENDING-. SEPTEMBER 30, 1983

.O-DAY
44ERC1AL
PAPER
9.42
9.59
9.46
.20
34
3.33
9.28
9. 16
8.92

90-DAY
BANKERS'
ACCEPTANCES

CORPORATE
Aaa BONDS

CORPORATE
BAA BONDS

MUNICIPAL
BONDS KK

9.70
9.87
9.62
9.40
9.58
9.41
9.31
9.20
9.07

12.62
12.71
12.40
12.32
12.54
12.47
12.40
12.31
12.21

13.64
13.75
13.63
13.55
13.65
13.60
13.55
13.51
13.49

9i 74
9.85
9.70
9.59
9.75
9.67
9.62
9.42
N.A.

K AVERAGES OF RATES AVAILABLE.
P*'NO BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
NOT AVAILABLE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

SELECTED

INTEREST RATES

AVERAGES OF DAILY RATES ENDED FRIDAY

PERCENT
16.0 r—

PERCENT
— 16.0

III!

IN I

M il.

TTTT

15.0

14.0

15.0

14.0
1
1
1
1

12.0

d

\
y

A

\

dv

V

1

r-r
A.

A
v/

a/

10.0

J

w■

MONTH
TREA* URY B ILL

9.0

8.0

1

<r

TTTT

f\

TTTT

✓
A"

\

A y=——

(y

i

1111
£
0

fe )ERAL ^
FUN)S RATE
A

1

y

1 1

i /
r

L
d i

12.0

1 I .0

5-YEAR
TREAS URY S ECURITIES
k.l
/

r''"
10.0

13.0

IN I

= {|

V

1 1 1

11.0

TTTT TTTT

13.0

7.0

1 1 1

1 1 1

6 20

3

AUG

SEP

17

ini

1 1 1

11 11

I

12 26

10 24

7

DEC

JAN

15 20

OCT
NOV
1982

1 1 1
21

1 1 1
4

18

FEB

1 1 1
4

18

MAR

1 1 1 1
1

IS 20

APR

1 1 1

1 1 1

IS 27

10 24

MAY

JUN
1983

1 1 1 1
8 22

JUL

1 1 1
5

10

AUG

111!
2

16 SO

SEP

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING*. SEPTEMBER 30,

1963
AUG.

SEP.

OCT.

5
12
19
26
2
9
16
23
30 X
7
14
21
28

14 28

OCT
1983

FEDERAL
FUNDS KX

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BILL XXX

l-YEAR
TREASURY
BILL

5-YEAR
TREASURY
SECURITIES

LONG-TERM
TREASURY
SECURITIES

9.59
9.66
9.67
9.41
9.44
9.53
9.54
9.48
9.04

9.41
9.52
9.35
9. 15
9.26
9. 13
9.08
8.94
8.75

9.56
9.70
9.55
9.29
9.53
9.40
9. 14
9.06
8.84

9.71
9.80
9.50
9.37
9.64
9.47
9.33
9. 15
9.02

11.74
11.89
11.49
11.34
11.73
11.56
11.46
11.37
1 1.21

11.92
12.01
11.65
11.54
11.89
11.73
11.65
11.56
11.43

X AVERAGES OF RATES AVAILABLE.
X* SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN.
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS * H.15 RELEASE.
mm
new issue rate
RATES ON LONG-TERM TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST.
TREASURY BILL YIELDS ON DISCOUNT BASIS.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

0

8
TOTAL CHECKABLE DEPOSITS!/
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

AUG.

17

BILLIONS OF DOLLARS

370.8
369.0
366. I
371.3
370. I

4 It
AUG

I IS 29 19 27 10 24 I 22
SEP
OCT
NOV
DEC
1982

S 19
JAN

2 IS
FEB

2 It 90 19 27 II 29 t 22
MAR
APR
MAY
JUN
1983

t 20
JUL

9 17 91 14 29 12 29
AUG
SEP
OCT

LATEST DATA PLOTTEO WEEK ENDING: SEPTEMBER 21, 1983
1/ DEMAND DEPOSITS PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITORY INSTITUTIONS

TOTAL CHECKABLE DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF FOUR WEEKS ENDING:
9/22/82

12/22/82

2/23/83

3/23/83

17.4
17.6
14.7
15.2
16. 1
15. 1
14.3
12.6

17.6
12.5
13.7
15.4
13.9
13.1
10.9

7.7
11.2
14.5
12.7
11.7
9.2

7.5
13.2
1 1.2
10.5
7.7

4/20/83

5/18/83

6/22/83

7/20/83

14.6
12.2
7.8

6.6
2.5

1.4

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
2/23/83
3/23/83
4/20/93
5/10/83
6/22/83
7/20/83
0/24/83
9/21/83


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

21.0
15.9
13.6
9.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

TOTAL TIME DEPOSITSu
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
850 pr
840

BILLIONS OF DOLLARS
850

3
AUG.

17

BILLIONS —

840

697.2
699.0
700.2
700.7
701.7
701.3

820

830

810

790
780
-E3 770
760
750
740
730
720
710
-3 700
690
680
670
S

OCT
1982

NOV

19

JAN

2

16

2

IB 30 IS 27

FEB

APR

11

23

8 22

6 20

3 17 31

MAY

14 28 12 28

SEP

0

OCT

LATEST DATA PLOTTED WEEK ENDING. SEPTEMBER 21, 1983
1/ SAVINGS DEPOSITS PLUS SMALL TIME DEPOSITS PLUS LARGE TIME DEPOSITS

MMDAs, MMMFs and SUPER NOWs
(billions of dollars, not seasonally adjusted)
MMDAs 1/
August

September

10
17
24
31
7
14
21

MMMFs 2/

$367.7
366.6
365.2
364.7
366.2
366.8
366.6

$177.4
177.6
177.1
176.6
176.5
175.8
176.3

SUPER NOWs 3/
$33.8
33.7
33.4
33.5
34.7
34.8
34.5

U Money market deposit accounts at all depository institutions, effective 12/14/82
2/ Total money market mutual fund balances.
ic/m/aa.
- IZ
H a11 deP0sit°O' institutions, requiring a $2,500 minimum balance
and eligible to earn more than 5.25 percent, effective 1/5/83.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10
SMALL TIME DEPOSITS 1/
COMMERCIAL BANK SAVINGS DEPOSITS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
460
450

=-

440

E-AUG.
=

430

=

ISfil

400

BILLIONS

17
24

332.1
333.8

7

335.1 1

SEP.

420
410

21

=

“I
=
420

337.7

E

E
E

300
380
370
360
350

SMALL TIME DEPOS

320
310
300

370

v

360

\

E
1

350

V

340

E

330

E

320

=

310

E
!nx

0

1111 li ,i i

111

1111

111

111

INI, .III

LATEST DATA PLOTTED WEEK ENDING. SEPTEMBER 21,

-LLL 1 1 1 1

111. 1 1 1 1

lfifli

1 1 1

±Lil

0

BILLIONS OF DOLLARS
185

BILLJ QNS

ISO

137.7
137.3

SEP

300

1983

BILLIONS OF DOLLARS

Z

400

380

\

E

410

390

Y

=
=

340
330

BILLIONS OF DOLLARS
460
=

175

137.0

170
SAVINGS DEPOSITS

165
160
155
150
145
140
135
130

4 18

I

IB 29

13 27 10 24

8 22

S 10

2 18

JAN

FEB

2 16 30 13 27

APR

1982
LATEST DATA PLOTTED WEEK ENDING. SEPTEMBER 21,

II

25

8 22

8 20

3 17 31

MAY

14 28 12 28

SEP

OCT

1983
1983

1/ COMMERCIAL BANK TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN 8100,000.


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

0

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS

BILLIONS

of dollars

4.5
im

MILLIONS
4.0

SEP,

7

3.5
3.0
2.5

2.0
1.5

4

18

I

15 28

15 27

OCT

10 24

8 22

NOV

5 19

2

JAN

FEB

16

2 16 50 15 27

APR

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 26,

11

25

8 22

6 20

5 17 51

14 28

12 26

MAY

1983

BUSINESS LOANS u
( COMMERCIAL AND INDUSTRIAL )

WEEKLY REPORTING LARGE COMMERCIAL BANKS 2/
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS
236

BILLIONS OF DOLLARS
236

-- 1---1-- 1-- 1--__ COMPOUNDED
ANNUAL
RATES
OF CHANGE,
AVERAGE
OF
THE
FOUR
WEEKS
ENDING
__ SEPTEMBER
21,
1983
F
THE FOUR WEEKSEND ING:ROM
“— JUL.
1983
1.0
JUN. 20,
22,
1983
0.2
“- MAY
18,
1983
1.8
APR. 23,
20, 1983
1983 -1.2
“ MAR.
-2.4
- SEP . 22, 982 -0.5

I
I
I

nil
1
1
1

V

r‘

rrrr

Is_„

2

■V

3/-~
u

i

1
1
1

1

‘in 1111 m 1 1 1 .in.!..
111
8 22 111 ill., .1. 1 1 1
5

AUG

SEP

OCT
1962

NOV

DEC

JAN

_LLL

16 50 15 27

FEB

MAR

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 21.

APR

II

MAY

25

198.
k1 ILL 10MS AUG. 2417 215,995
216,457 “__
317 215,826
216,225
215,037 _-211411 i n215,064
n 11111:
1 1 1 1 111
8 22

JUN
1983

5 17 51

JUL

AUG

14 28

SEP

12 26

OCT

1983

1/ BUSINESS LOANS INCLUDE BANKERS* ACCEPTANCES AND C0M4ERCiAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS OF 8750 MILLION OR MORE


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

11

12
LARGE TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
285
280
275

227.8

270
265
260
255
250

230
225
220
I I II
OCT

NOV

JAN

FEB

SEP

OCT

LATEST DATA PLOTTED WEEK ENDING: SEPTEMBER 21, 1083
CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.fl RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF 8100,000 OR MORE.


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Federal Reserve Bank of St. Louis

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