Full text of U.S. Financial Data : September 30, 1993

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

r 30, 1993

U.S. financial Data
0 4 1993

THE WEEK'S HIGHLIGHTS:
>/ Real disposable income increased at a 15.4 percent annual rate in
August, after a 5.6 percent rate of decline in July, due mainly to the
Midwest floods and the Southeast drought. Compared with a year
earlier, real disposable income in August was up 2.5 percent.
✓ Real personal consumption expenditures (PCE) rose at a 1.9 per­
cent annual rate in August, compared with a 4.2 percent rate of
increase in July. Real PCE was up 3.6 percent from August 1992.
✓ Sales of new one-family houses decreased in August to an annual
rate of616,000 units, down from 636,000 units in July. Sales of
new homes totaled 447,000 units during the first eight months of
this year, up 5.2 percent from the same period a year earlier.
%/ Advance new orders for manufactured durable goods in August
increased to $131.2 billion from $128.6 billion in July. Orders
during the first eight months of the year were up 8.2 percentfrom
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:
One year (50 issues) $21

Two years (100 issues)

$36

To subscribe, please send your check or money order made payable to the Federal Reserve Bank
of St. Louis to: Research and Public Information, Federal Reserve Bank of St. Louis, Post Office
Box 66953, St. Louis, MO 63166-6953. DO NOT SEND CASH. 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.
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 ot Daily Hgures
Seasonally Adjusted

Billions of Dollars

1993

Billions of Dollars

Billions

1992
1993
Latest data plotted reserve maintenance period ending: September 29, 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 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 trie average or g/30/g2 ,2/23/g2 3/3/93 3/31/93 4/28/93 5/26/93 6/23/93 8/4/93
two maintenance
periods ending:
3/3/93
3/31/93
4/28/93
5/26/93
6/23/93
8/4/93
9/1/93
9/29/93

12.7
8.2
9.5
10.1
10.1
10.5
10.6
10.6


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

7.0
9.4
10.4
10.4
10.8
10.9
11.0

1.2
5.6
6.7
8.3
8.8
9.2

16.7
14.4
13.8
13.5
13.2

12.6
12.6
12.4
12.3

11.7
11.7
11.6

Prepared by Federal Reserve Bank of St. Louis

Money Stock (M1) and Total Checkable Deposits
Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

Billions of Dollars

M1
1993
Aug 16
23
30
Sep 6
13
20

Billions
1095.2 '
1096.1
1097.5
1102.9
1103.9 .
1113.6

M1 (left

TCD

TCD (right scale)
1993

Aug 16
23
30
Sep 6
13
20

Aug

Sep

Oct
1992

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Jul

Aug

_

Billions
775.5
775.3
774.9 __
780.7
780.2
789.0

Sep

Oct

Latest data plotted week ending: September 20, 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
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 9/21/92
12/21/92 2/22/93 3/22/93 4/19/93 5/17/93 6/21/93 7/19/93
of four weeks
ending:
2/22/93
3/22/93
4/19/93
5/17/93
6/21/93
7/19/93
8/23/93
9/20/93

11.7
10.2
9.9
11.3
12.0
11.8
11.9
12.1


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

4.0
4.8
8.0
9.6
9.7
10.2
10.5

4.9
10.6
12.3
11.9
12.1
12.3

14.9
15.5
14.2
13.9
13.9

19.3
16.4
15.4
15.2

13.6
13.4
13.5

Prepared by Federal Reserve Bank of St. Louis

4
Adjusted Reserves
Billions of Dollars

1993
Jul
Aug
Sep

7

21

4

18

Seasonally Adjusted

Billions of Dollars

Billions
102.1

98.5

102.0

1

5 19 2 16 30 14 28 11 25 0 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
1992

Nov

Dec

Jan

Feb

Mar

Apr

May Jun
1993

Jul

Aug

Sep

Oct

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

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

25.0
11.9
8.4
11.6
15.1
13.4
12.7
10.9


http://fraser.stlouisfed.org
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

Prepared by Federal Reserve Bank of St. Louis

Money Multiplier1/
Averages of Daily Figures
Seasonally Adjusted

Ratio

3.0

Ratio

3.0
Compounded annual
rates of change,
average of the four
weeks ending
September 13, 1993 from
the four weeks ending:
Sep 14, 1992 1.2
Dec 21, 1992 -0.2
Mar 15, 1993 2.2
Apr 26, 1993 2.8
May 24. 1993 1.2
Jun 21, 1993 1.0
Jul 19, 1993 1.5

1 11 1 I 1 I*1 I1 I *

3 17 31 14 28 12 2$ 9 23
Aug Sep Oct Nov
1992

1993

Ratio

Jul

5
19
Aug 2
16
30
Sep 13

\ 1 I ''I rTTti "f—r—1 r ■ "T-*'' T T T

7 21 4 18 1 15 1
Dec
Jan Feb

I ' I

I ■ I I I 1 I

2.651
2.640
2.662
2.645
2.653
2.660

I | > |‘-1 | ■ | ■ II

15 29 12 26 10 24 7 21 5 19 2 16 30 13 27 11 25
Mar Apr May
Jun Jul Auq
Sep
Oct
1993

Latest data plotted two weeks ending: September 1 3, 1993

Currency Component of M12/
Billions of Dollars

325

315

305

Averages of Daily Figures
Seasonally Adjusted

Billions of Dollars

325

---------1--------- 1----------1--------Compounded annual
rates of change,
average of the four
weeks ending
. September 20, 1993 from _
the four weeks ending:
Sep 21, 1992 10.6
Dec 21, 1992 11.1
Mar 22, 1993 11.7
■ Adt 19. 1993 17.0
May 17, 1993 12 .7
Jun 21, 1993 13 .0
Jul 19, 1 993 13 .6

315

305

295

295

285

275
17 31 14 28 12 26 9 23 7 21 4 18
Nov
Aug
Sep Oct
Dec
Jan
1992

15
Feb

15 29 12 26 10 24 7 21 5 19
Mar Apr May Jun
Jul
1993

1993

Billio ns

23
30
Sep 6
13
20

313.0
314.9
314.5
316.0
316.9

1 1 '

- 285

■ i ■ i

16 30 13 27 11 2
Aug
Sep Oct

Latest data plotted week ending: September 20, 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

275

6

Percent

Percent

Averages of Daily Figures

Municipal Bond*

7 21 4 18

IS 30 13 27 11 25 8 22 5 1! 5 1! 2 It 30 H 21 11 25

Feb Mar
Apr
May
Jun
Nov
Dec
1992
Latest data plotted are averages of rates available for the week ending: October 1, 1993
Aug

Sep

1993
Jul

9
16
23
30
Aug 6
13
20
27
Sep 3
10
17
24
Oct 1 *

90-Day
CDs

30-Day
Commercial
Paper

90-Day
Bankers'
Acceptances

3.16
3.14
3.16
3.17
3.17
3.15
3.13
3.14
3.13
3.11
3.12
3.11
3.09

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

3.12
3.10
3.14
3.13
3.12
3.10
3.09
3.08
3.08
3.06
3.08
3.08
3.07

Corporate
Aaa Bonds
7.22
7.16
7.17
7.14
7.04
6.92
6.79
6.71
6.61
6.51
6.66
6.79
6.68

Corporate
Baa Bonds

Municipal
Bonds **

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

5.55
5.50
5.61
5.65
5.61
5.45
5.40
5.35
5.35
5.24
5.27
5.30
NA

Current data appear in the Federal Reserve Board's H.15 release.
* Averages of rates available
*• Bond Buyer's Average Index of 20 munioipal 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—Year
Tmii ry Sect rftle*
r✓
k /
V/

/
/
\ .»
\'

/

e.o

\

f

\
\

/

5.0

✓

\

✓ '\

i

f

5.0

V

F*4«ra
1 unds R rte

yj

3.0

\

IS.cY \aj

v..

2k:

>

2.0

b

V

4onth
ury Bill

iscount Rote

4 18 2 16 JO 13 27 11 25 8 22 5 1! 5 1! 2 IS 30 14 28 II 25

Aug

Sep

Nov

Dec

Jan

Feb Mar

Apr

May

! 23 6 20 3 17 1 15 21
Ju!
Aug
Sep Oct

Jun
1993

Latest data plotted are averages of rates available for the week ending: October 1,

1993
Jul

9
16
23
30
Aug 6
13
20
27
Sep 3
10
17
24
Oct 1 *

Federal
Funds **
3.10
3.01
3.09
3.03
3.10
2.98
3.06
2.98
3.08
2.99
3.03
3.12
3.05

3—Month
Treasury
Bill

6-Month
Treasury
Bill ***

1 —Year
Treasury
Bill

5—Year
Treasury
Securities

Long-Term
Treasury
Securities

3.02
3.02
3.07
3.06
3.06
3.02
3.00
3.00
2.99
2.96
2.96
2.93
2.91

3.10
3.14
3.15
3.24
3.25
3.18
3.12
3.12
3.11
3.03
3.06
3.06
3.02

3.28
3.27
3.37
3.43
3.40
3.33
3.26
3.24
3.21
3.18
3.24
3.26
3.20

5.03
5.00
5.15
5.21
5.19
5.12
5.02
4.87
4.76
4.66
4.73
4.80
4.70

6.34
6.25
6.30
6.34
6.27
6.20
6.15
6.03
5.92
5.80
5.89
5.99
5.87

r- r are
--------..
.
------- - Treasury bill yields are on a discount
CAUIUUIMU
lUIIU-lCMM HCUSU1V sccuMiies
which
computed
by this■ bank.
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

3.0

c

7 21

Oct
1992

v ys

>- \*-(3

2.0

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

Billions of Dollars

3550

3525

n

Billions of Dollars

2225

r

M2
1993 Billions
Aug 16 3530.9
23 3529.7
30 3522.9
Sep 6 35 35.3
13 35 42.0
20 35 43.1

f

2(25

42 (let : scale'

3500

2525

"* s ,
“ \\
"N

Non-U 1 M2 ( right sc ale)

3475

/“ *

2*25

3425

Aug 16
23
30
Sep 6
13
20
I

3 17 31 14 28 1! 21 ! 23 7 21 4 18 1 IS 1 15 29 12 25 10 24 7 21 5 19
Aug Sep
Oct
Nov
Dec
Jan Feb Mar Apr
May Jun
Jul
1993
1992

ifl

I

Non
1993

3450

12
ns
2435.7 2433.6
2425.4
2432.4
2438.1
2429.5
I

2325

2225

2 IS 30 13 27 II 25
Aug Sep Oct

Latest data plotted week ending: September 20, 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 9/21/92 12/21/92 2/22/93 3/22/93 4/19/93 5/17/93 6/21/93 7/19/93
ending:
2/22/93
3/22/93
4/19/93
5/17/93
6/21/93
7/19/93
8/23/93
9/20/93

-0.2
-0.3
-0.2
0.6
1.5
1.3
1.5
1.7


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

-2.9
-2.2
-0.4
1.0
0.8
1.2
1.4

-0.4
2.1
3.6
2.8
3.0
3.0

3.6
5.1
3.7
3.7
3.6

7.3
4.8
4.6
4.3

3.7
3.8
3.6

1.9
2.2

3.5

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
1993

Billions

Aug 16
23
30
Sep 6
13
20

1205.7
1205.3.
1206.7
1209.1
1210.8
1208.2

Money Market (right scale)
Money Market

1993

Savings Deposits (left scale)

Billions

Aug 16
23
30
Sep 6
13
20

334.9
336.0 —
332.6
330.4
333.8
332.8

3 17 31 H 21 12 21 9 23 7 21 4 II 1 IS 1 15 29 12 26 10 24 7 21 5 19 2 16 30 13 27 11 25
Aug Sep Oct Nov Dec Jan
Feb Mar Apr May Jun
Jul
Aug
Sep Oct
1992
1993
Note: Savings deposits are at all depository institutions. Money market funds are general purpose
and broker/dealer.

Large and Small Time Deposits1'
All Depository Institutions
Averages of Daily Figures, Seasonally Adjusted

Billions of Dollars

Billions of Dollars

Small Time
1993

Large Time (left scale)

Aug 16
23
30
Sep 6
13
20

Billions
814.8
813.7
812.2
811.0 —
809.5
807.4

Large Time
1993 Billions
— Aug 16
23
30
Sep 6
13
20

338.2
339.4
339.4
336.6
337.6
336.7

Small Time (right scale)

3 17 31 14 28 12 26 9 23 7 21 4 18 1 15 1 15 29 12 26 10 24 7 21 5
2 16 30 13 27 11 25
Aug
Sep Oct Nov Dec Jan
Feb Mar Apr May Jun
Jul
Aug Sep Oct
Latest data plotted week ending: September 20, 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

1993

Billions

Aug 25 0.254
Sep 1 0.356
8 0.856
15 0.231
■
22 0.360 ----- 1.0
29 0.281

2 18 31 H 2! 11 28 9 23 8 20
Sep
Oct Nov Dec Jan

3 17 3 17 31 H 2! 1! 28 9 23 7 21
Feb Mar Apr May
Jun
Jul

1992

4 18 I IS 29 13 27
Aug Sep Oct

1993

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

Billions of Dollars

Billions of Dollars

1993
Aug 25
Sep 1
8
15
•
22
29

Billions
0.254
0.356
0.856
0.231
0.360 —
0.281

8 I9 2 If 30 14 20 11 28 9 23 8 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
Feb Mar Apr May Jun
Jul
Aug Sep Oct
1992

Latest data plotted week ending: September 29, 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

Sep

Billions of Dollars

Not Seasonally Adjusted
Billions

1

5 U 2 1* Jfl H 21 11 25 S 23 § 20 3 17 3 17 31 H 28 12 28 9 23 7 21 4 18 1 15 2J 13 27
Aug

Sep

Oct

Nov

Dec

Jan

Feb

Mar

Apr

May

Jun

Aug

Sep

Oct

Latest data plotted week ending: September 22. 1993

Commercial and Industrial Loans1 x
Bullion* of Dollars

R*P“arg;c«ia, ^
Billions of Dollars

315
305
295

-------- 1--------- 1---------Compounded onnu al
rates of change,
average of the fou r
weeks ending
September 15, 1993 from
the four weeks enc ing:
Sep 16. 1992 - 2.7
Dec 16, 1992
t.3
Ma 17, 993 - 2.4
Ap 14, 993 -<3.1
Ma 12, 993
3.6
Jur 16, 993 - 3.1
Ju 14, 993 - t. 3

}2S

I
199:
1
8
25
Sep 1
8
15

Billions
272.651__
272.764
271.588
273.043
271.187
274.209

315

— 305
295

215

295

275

275

265

5 1! 2 IS 10 H 28 II 25 9 23 f 20 3 17 3 17 31 H 28 1! 2S 9 23 7 21 t 18 1 15 29 13 27
Aug Sep
Oct Nov Dec Jan
Feb Mar Apr
May Jun
Jul
Auq
Sep Oct
1992
1993
Latest data plotted week ending: September 15, 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 25
Sep 1

5 19 2 IS 30 14 28 11 25 9 23 6 20 3 17 3 17 31 14 20 12 26 9 23 7 21 4 18 1 15 29 13 27
Aug

Sep

Oct
1992

Nov

Dec

Jan

Feb

Mar

Apr

May
Jun
1993

Jul

Aug

Sep

Oct

Latest data plotted week ending: September 29, 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

z

o
H
X

sC
E
H

>4
O
PS

<

35 O <


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