Full text of U.S. Financial Data : Week Ending: December 23, 1981

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

F/A/>U/V£7//W.

CD X\ TXV

Week ending: December 23, t981

Most short-term interest rates have risen sharply during the
t few weeks, reversing the downward trend that began in late
August. For example, the rate on 90-day certificates of deposit
increased by 165 basis points during the four-week period ending
December 25, after declining 652 basis points during the previous
14 weeks. The one exception to the recent movement in short-term
rates is the federal funds rate, which remained essentially unchanged
during the latest four-week period.
The recent increase in short-term rates has been associated
with a sharp acceleration in the growth rate of business loans. Business
loans at large, weekly reporting banks increased at a 22.8 percent rate
from the four weeks ending November 18 to the four weeks ending
December 16, compared with a 9.5 percent growth rate over the
previous three months. The recent rise in short-term interest rates has
also been associated with a marked acceleration in the growth rate of
M1B. Money grew at a 17.4 percent rate during the four weeks ending
December 16, compared with a 2.7 percent rate during the previous
three months.
Changes in Yields on Selected Securities*
(weekly averages of daily figures)
Week ending

Federal funds rate**
90-day certificates of deposit
4-month commercial paper
3-month Treasury bill
1-year Treasury bil 1

August 21
to
November 27

November 27
to
December 25

-577
-652
-606
-540
-407

1
165
162
91
153

* Changes in basis points
** Seven-day averages for week ending two days prior to the date shown

DUE TO THE HOLIDAY ON FRIDAY,
THIS RELEASE WILL NOT BE PUBLSHED NEXT WEEK.

Prepared by Federal Reserve Bank of St. Louis


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

Released: December 28, 1981

2
ADJUSTED MONETARY BASE
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED BY THIS BANK

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
176

BILLIONS
169.9
169.8
170.2
169.9
170.0
170.6

NOV.

3

17 31

M 28

JAN

II

25

FEB

II

25

1

8 22

MAY

MAR

15 29

12 26

9 23

7 21

JUN

1980
LATEST DATA PLOTTED WEEK ENDING: DECEMBER 23,

1981

THE ADJUSTED MONETARY BASE CONSISTS OF: C 1 ) RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS
AT FEDERAL RESERVE BANKS. (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND
IN THE VAULTS OF COMMERCIAL BANKS), 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
AVAILABLE FROM THIS BANK.

ADJUSTED MONETARY BASE
COMPOUNDED ANNUAL RATES OF CHANGE,
12/24/80

AVERAGE OF FOUR WEEKS ENDING:

3/25/81

5/20/81

6/24/81

7/22/8 1

8/26/81

9/23/81

0/21/81

6.5
6.3
6.9
5.4
4.4
4.7
4.8

4.2
5.9
4.0
2.9
3.6
3.9

7.5
4.4
2.8
3.7
4.0

3.9
1.9
3.3
3.7

-2.3
1.2
2.2

2.8
3.6

6.3

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/20/81
6/24/81
7/22/81
8/26/81
9/23/81
10/21/81
11/25/81
12/23/81

5.6
5. 1
5.2
5.7
4.9
4.2
4.5
4.5


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

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

ADJUSTED RESERVES
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS

BILLIONS OF DOLLARS
50

e.ULkJQNS
48.0
47.7
DEC.
47.4

I I I I
JAN

FEB

1980

1981

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 16, 1981
ADJUSTED MONETARY BASE (RESERVE ACCOUNTS OF FINANCIAL INSTITUTIONS AT FEDERAL RESERVE
BANKS PLUS CURRENCY IN CIRCULATION) LESS CURRENCY HELD BY THE NONBANK PUBLIC.

ADJUSTED RESERVES
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING:
12/17/80

3/18/81

5/13/81

6/17/81

7/15/81

8/19/8 1

9/16/81

-0.5
0.9
0.0
2.5
2.0
0.8
1 .4
1.5

4.4
2.0
5.7
4.3
2.2
2.9
2.9

1 .2
7.3
5.0
2.0
2.9
2.9

7.6
4.3
0.7
2.0
2. 1

8.9
2.6
3.7
3.6

-6.6
-1 . 7
-0.6

-1.2
0.0

10/14/81

TO THE AVERAGE
OF FOUR WEEKS
END 1NG:
5/13/81
6/17/81
7/15/81
8/19/81
9/16/81
10/14/81
11/18/81
12/16/81


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

5.0

PREPARED BY FEDERAL RESERVE BANK OF ST.

3

LOUIS

4
MONEY STOCK ( Ml A )
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
400 ---------- ------------- ------

BILLIONS OF DOLLARS
------1------------- 1---------- 400
BILLIONS

NOV

DEC
I960

JAN

FEB

MAR

APR

MAY

JUN

LATEST DATA PLOTTED WEEK ENDING*. DECEMBER 16,

JUL
1981

AUG

NOV.

II

OCT

NOV

SEP

360.9
363.0
361.2
365.6
363.8
363.0

DEC

JAN
1982

1981

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
MIA CONSISTS OF CURRENCY HELD BY THE NONBANK PUBLIC PLUS COMMERCIAL BANK DEMAND DEPOSITS
HELD BY THE NONBANK PUBLIC (EXCLUDING THOSE HELD BY FOREIGN BANKS AND OFFICIAL INSTITUTIONS)
PLUS TRAVELER'S CHECKS OF NONBANK ISSUERS.

MONEY STOCK (MIA)
COMPOUNDED ANNUAL RATES OF CHANGE,
12/17/80

AVERAGE OF FOUR WEEKS ENDING:

3/18/81

5/13/81

6/17/81

7/15/81

8/19/81

9/16/81

-4. 1
-3.6
-2.6
-2.9
-2.7
-2.2
-1 .0

-7.5
-4.5
-4.5
-4.0
-3. 1
-1.5

-0.3
-1.6
-1.7
-1.0
0.6

-1.4
-1.5
-0.8
1.0

-3.2
-1.5
1.0

-0.2
2.8

10/14/81

TO THE AVERAGE
OF FOUR WEEKS
END 1NG:
5/13/81
6/17/81
7/15/81
8/19/81
9/16/81
10/14/81
11/18/81
12/16/81

-14.2
-13.7
-12.2
-10. 4
-9.9
-9. 1
-8. 1
-6.8


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

4.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

MONEY STOCK ( Ml B)
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

billions of dollars

billions of dollars

BILLIONS
— NOV.

436.2
438.4
441 . 1
440.4

I I I I
JAN

FEB

MAR

I I I I
MAY

1980

I I I I

11 J I

JUN

OCT

NOV

1981

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 16,

1982

1981

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS’ H.6 RELEASE.
MlB CONSISTS OF MIA PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITARY INSTITUTIONS.

MONEY STOCK ( MIB )
COMPOUNDED ANNUAL RATES OF CHANGE,
12/17/80

AVERAGE OF FOUR WEEKS ENDING:

3/18/81

5/13/81

6/17/81

7/15/81

4.7
3.9
4.3
3.9
3.3
3.7
5.0

-5.8
-2.0
-1 . 1
-1.0
0.3
2.3

3.7
3. 1
2.2
3. 1
5.2

3.8
2.4
3.5
5.9

8/19/81

9/16/81

10/14/81

3.1
7.3

11.0

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/13/81
6/17/81
7/15/81
8/19/81
9/16/81
10/14/81
11/18/81
12/16/81

9.9
5.5
4.9
5.0
4.7
4.2
4.4
5.3


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

0.6
2.7
6.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

6
YIELDS ON SELECTED SECURITIES
AVERAGES OF DAILY RATES ENDED FRIDAY
22.0

22.0
PRIME BANK
LOAN RATE

21 .0

20.0

20.0
19.0
90 DAY CD’S
18.0
17.0
16.0
COMMERCIAL
PAPER

15.0
14.0

CORPORATE
Aaa bonds

13.0

12.0
I 1 .0

10.0
9.0

8.0
0
NOV
DEC
1980

JAN

FEB

MAR

APR

MAY

JUN
JUL
1981

AUG

SEP

OCT

NOV

DEC

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: DECEMBER 25.

1982
NOV.

DEC.

JAN.

6
13
20
27
4
1 1
18
25 *
1
8
15
22
29

90 DAY
CD'S
14. 13
12.77
11.97
11.51
11.62
11.96
12.68
13. 16

PRIME
COMMERC1AL
PAPER x*e*
13.64
12.4!
11.57
11.09
11.35
11.61
12.34
12.71

PRIME
BANKERS'
ACCEPTANCES
13.54
12.34
11.51
11.14
11.37
1 1 .71
12.31
12.78

JAN
1982
1981

CORPORATE
Aaa BONDS

CORPORATE
BAA BONDS

MUNICIPAL
BONDS XX

14.88
14.18
13.92
13.92
13.99
14. 16
14. 1 1
14.29

16.87
16.41
16.20
16.08
16.15
16.42
16.55
16.71

12.44
11.43
1 1.71
11.98
12.18
12.89
13.00
N. A.

* AVERAGES OF RATES AVAILABLE.
** BOND BUYER’S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA.
#*# DATA ARE 4-MONTH COMMERCIAL PAPER RATES.
N.A. - 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
22.0 r—

PERCENT

—i 22.0
21.0

21 .0
FEDERAL FUNDS RATE

20.0

20.0

19.0

19.0

18.0
1
3-MONTH
j- TREASURY BILL

17.0

16.0

15.0

DISCOUNT
RATE
13.0

13.0

12.0
5-YEAR
TREASURY SECURITIES

10.0

10.0

2

16 30

13

27

13

27

!0 24

22

f
1980

5

19

3

17 3!

JUN JUL
j 981

14

AUG

28

11

SEP

25 9

23

OCT

6

20

NOV

4

ll

DEC

LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: DECEMBER 25,

FEDERAL
FUNDS **

6
13

20
27
4
1 I
18
25 *
I

14.79
14.01
13. 17
12.42
12.48
12.04
12.26
12.43

3-MONTH
TREASURY
BILL

6-MONTH
TREASURY
BI LL ***

12.21

12.72
11.51
10.97
10.92
10.70
10.77
11.60
11.84

10.93
10.31
10.23
10.39
10.47
10.94
11.14

1-YEAR
TREASURY
BILL
12.35
11.29
10.78
10.63
10.85
11.13
11.53
12. 16

5-YEAR
TREASURY
SECURITIES
14.36
13.43
13.12
12.81
13.03
13.47
13.44
14.03

LONG-TERM
TREASURY
SECURITIES
13.81
13. 16
12.78
12.71
12.78
13.21
13. 19
13.44

8
15

22
29

* AVERAGES OF RATES AVAILABLE.

"sTHAN DATE 5Hom-

*** NtW I tibUL RATE
TREaIuRY BILL_Y^t!DSREaSDysCOUNTR^^l.ARE


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

COkSPUTE° 8Y THE FEDERAL RESERVE BA* °F *T. LOUIS.

PREPARED BY FEDERAL RESERVE BANK OF ST.

7

8
MULTIPLIERS!/
CURRENCY OF MONEY STOCK MEASURES */
AVERAGES OF DAILY FIGURES
SEASONALLY ADJUSTED

RATIO
3.0
2.9

RATIO
NOV.

2.8

MONEY MULTIPLIERS

I 1

2.7

DEC.

2.6
2.5

2.3

2.2
RATIO
NOV.

2. I

I 1
2.0

DEC.
.9
I I I I I I I

I I I I

I I I I I

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 16,

1981
BILLIONS OF DOLLARS
128

BILLIONS OF DOLLARS

COMPOUNDED ANNUAL RATES
OF
CHANGE, AVERAGE ui
OF
ur onMituc.
___THE FOUR WEEKS END ING
DECEMBER 16, 1981 FROM
_ THE FOUR WEEKS ENDING:
OCT. 14, 1981
___SEP. 16, 1981
AUG.
jun!
MAR.
-----DEC.

5.9
4.0

“

CURRENCY

1980

1981
NOV.

BILLIONS
II

21.9
21:9

DEC.
22.7

5

19

3

17

31

14

28

1 1

25

11

I I I I

1111.

I I I I

1

2S

15 29

12

26

9

23

I I I I I I I i
7

I I I I I

21

1980
LATEST DATA PLOTTED WEEK ENDING: DECEMBER 16,

1981

1/ RATIO OF MONEY STOCK (MIA) OR ( Ml8 ) 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

DEMAND DEPOSIT COMPONENT OF MONEY STOCK (MIA)
M/C.RAGES OF DAILY FIGIT''"
SEASONALLY ADJUSTED

BILLIONS OF DOLLARS
280 r—----- --------------------

BILLIONS OF DOLLARS
------1------------- 1--------=] 280

-BILLIONS
NOV.

5 19
NOV

3 17 31 14 28 11 ?5 11 25 8 22
DEC
JAN
FEB
MAR
APR

6 20
MAY

11

234.4
236.5
234.5
238.9
236.8
235.8

3 17
JUN

1980

,g

LATEST DATA PLOTTED WEEK ENDING:
CURRENT DATA APPEAR

DECEMBER 16,

1981

IN THE BOARD OF GOVERNORS'

H.6 RELEASE.

DEMAND DEPOSIT COMPONENT OF MONEY STOCK (MIA)
COMPOUNDED ANNUAL RATES OF CHANGE,
12/17/80

3/18/81

5/13/81

6/17/81

AVERAGE OF FOUR WEEKS ENDING:

7/15/81

TO THE AVERAGE
OF FOUR WEEKS
ENDING:
5/13/81
6/17/81
7/15/81
8/19/81
9/16/81
10/14/81
11/18/81
12/16/81

-23. I
-22.0
-19.9
-17.7
-16.8
-15.5
-14.2
-12.4


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

-9.3
-8.4
-7.2
-7.3
-6.7
-6.0
-4.3

-12.0
-8.9
-8.7
-7.6
-6.6
-4.3

-4.0
-5.3
-4.7
-4.0
-1.7

5 2
4.5
3.7
1.0

8/19/81

-0.4

9/16/81

10/14/81

2.1

4.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

10
SAVINGS PLUS SMALL TIME DEPOSITS
ALL COMMERCIAL BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
525

520

SEASONALLY ADJUSTED

BILLIONS

1981

Z~ NOV. 11
18
“
25

507.3
509. 1
510.9

9
16

51 1 . 5
512. 0

515

BIL LIONS

1

r~i—

F DOL LARS
525

_

520

E
515
E
—/

510

505

/

510

/

E
505
Z

500

500

/
Z

495

495

5

-

490

490
E

485

485
-

480

480
E

475

475
iii"
0

111
1 1 1 1
5 IS 5 17
NOV
DEC
1 980

1

1 1 1 1
1 1 1
1 1 1
1 1 1
8 11 25 11 25 8 22
14
FEB
MAR
APR
JAN

1 1 1
6 20
MAY

1 11
3 17
JUN

LATEST DATA PLOTTED WEEK ENDING; DECEMBER 16,

1 1 LL 1 1 1
III! 1 1 1
1 15 29 12 26
9 23 7 21
JUL
AUG
SEP
OCT
1981

111
4 18
NOV

i ii i
2 16 30 13 27
DEC
JAN
1982

‘ 0

1981

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF LESS THAN *100,000.

SAVINGS PLUS SMALL TIME DEPOSITS
COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING;
6/17/81 7/15/81 8/19/81
9/16/81 10/14/81
5/13/81
3/18/81

12/17/80
TO THE AVERAGE
OF FOUR WEEKS
END 1NG;
5/13/81
6/17/81
7/15/81
8/19/81
9/16/81
10/14/81
11/18/81
12/16/81

3.7
4.4
4.3
5.2
5.5
5.4
6.6
7. 1


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

4.7
4.5
5.9
6. 1
6.0
7.6
8.2

5.9
7.6
7.6
7.2
9.0
9.5

7.6
7.6
7. 1
9.3
9.9

9.3
8. 1
10.6
11.1

6.5
10.5
11.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

BORROWINGS FROM FEDERAL RESERVE BANKS
AVERAGES OF DAILY FIGURES

BILLIONS OF DOLLARS
1981
— NOV.

BILLIONS OF DOLLARS
0

MILLIONS
3.5

18

3.0

JAN

FEB

OCT

MAR

NOV

1980
LATEST DATA PLOTTED WEEK ENDING: DECEMBER 23,

1981

BUSINESS LOANS u
(COMMERCIAL AND

INDUSTRIAL)

WEEKLY REPORTING LARGE COMMERCIAL BANKS

1981
1981
1981
1981
1981
1981

11.5
11.8
12.5
14.5
16.8
17.3

/Vn/

E

'

/—

/

J

\/ v

r

r

-

1

iii

14,
16,
19,
15,
17,
18,

1

OCT.
SEP.
AUG.
JUL.
JUN.
MAR.

1

“
-

BILLIONS OF DOLLARS
96
1

1

BILLIONS OF DOLLARS
196 ---------- 1------------- 1---------- 1---------"" COMPOUNDED ANNUAL RA TES
“ OF CHANGE. AVERAGE 0
- THE FOUR WEEKS END IN s a
- DECEMBER 16, 1981 FR
- THE FOUR WE&KS END IN S':

SEASONALLY ADJUSTED BY THIS BANK

1 1 1
llll
1 II
1 11
111 llll
5 19 3 17
1 M 28 11 25 II 25 8 22
APR
NOV
DEC
JAN
FEB
MAR
1980

NOV.

1 1 1
6 20
MAY

1 1 1
3 17
JUN

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 16,

llll
111
llll
1 15 29 12 26 9 23
JUL
AUG
SEP
1981

1 1 1
7 21
OCT

1 1
18
25
2
9
16
1 1 1
4 18
NOV

L

llll
a

millio

198

. /
/v/

187,565
“
188,507
“
188,997
“
190,731
—
191,112
~
192,438
MIMIN'
2 16 30 13 2
DEC
JAN
1982

1981

1/ BUSINESS LOANS INCLUDE BANKERS’ ACCEPTANCES AND COMMERCIAL PAPER.
2/ BANKS WITH DOMESTIC ASSETS OF *750 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 AUJUSItU

ILL IONS OF DOLLARS

BILLIONS OF DOLLARS
-------------------------------^ 265

BILLIONS

I I I I
JAN

FEB

MAR

MAY

OCT

JUN

LATEST DATA PLOTTED WEEK ENDING: DECEMBER 16,

NOV

1981

CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 H.6 RELEASE.
TIME DEPOSITS ISSUED IN DENOMINATIONS OF •100,000 OR MORE.


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Federal Reserve Bank of St. Louis

PREPARED BY FEDERAL RESERVE BANK OF ST.