Full text of U.S. Financial Data : Week Ending: May 20, 1981
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F//V/1 /V£7/>a L Week ending: May 20, 1981 library Wif m The growth rates of the adjusted monetary base continue to fluctuate markedly. The past nine months can be broken into three equal periods of rapid, slow, and then rapid base growth. From the four weeks ending August 13 to the four weeks ending November 12, the adjusted monetary base increased at an 11.4 percent rate, substantially faster than in the subsequent three-month period, when It increased at a 1.2 percent rate. More recently, from the four weeks ending February 11 to the four weeks ending May 13, the adjusted monetary base again grew rapidly, increasing at a 9.2 percent rate. The growth rates of the monetary aggregates have followed a pattern similar to the adjusted monetary base. The table below shows the growth of the adjusted monetary base and M1B over the same periods, and the growth of M2 over similar periods. The two periods of rapid base growth are also characterized by rapid M1B and M2 growth, while the one period of slow base growth is likewise characterized by slow growth of M1B and M2. In the most recent period, M2, which should be unaffected by the nationwide legalization of NOW accounts, has grown at a rapid rate similar to that of M1B. Growth Rates of Monetary Aggregates (compounded annual rates, seasonally adjusted) Monthly data Weekly data Adjusted monetary base Period* 8/13/80-11/12/80 11/12/80-2/11/81 2/11/81-5/13/81 * 11.4% 1.2 9.2 M1B Period M2 15.5% 3.0 13.5 8/80-11/80 11/80-1/81 1/81-4/81 8.7% 5.4 13.0 Four-week average ending these dates. Prepared by Federal Reserve Bank of St. Louis Released: May 22, 1981 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 170 BILUQNS APR. 15 — MAY 168 165.2 165.5 166.0 166.2 166. I 166 164 162 160 158 MAY AUG JUN SEP JAN FEB 1980 LATEST DATA PLOTTED WEEK ENDING: MAR 1981 MAY 20, 1981 THE ADJUSTED MONETARY BASE CONSISTS OF: ( 1 ) MEMBER BANK RESERVES AT THE FEDERAL RESERVE BANKS, (2) CURRENCY IN CIRCULATION (CURRENCY HELD BY THE PUBLIC AND IN THE VAULTS OF COMMEnCIAL 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, AVERAGE OF FOUR WEEKS ENDING: 5/21/80 8/20/80 10/22/80 11/19/80 12/17/80 1/21/81 2/18/81 3/18/81 4.9 5.8 6.5 8.8 8.9 8.0 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/22/80 11/19/80 12/17/80 1/21/81 2/18/81 3/18/81 4/22/81 5/20/81 10. 4 11.2 10. 1 8.7 7.7 8.0 7.9 8.0 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 11.1 9.2 7.2 5.9 6.6 6.6 6.9 9,3 5.9 4.3 5.5 5.8 6.2 1.8 1.0 3.2 4. 1 4.9 0.0 3.2 4.3 5.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS ADJUSTED BANK RESERVES!/ AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 50 BILLIONS APR. 46.6 46.7 — MAY 5 19 2 46.6 16 30 M MAY 28 II 25 9 23 I 15 29 12 26 10 24 7 21 JUN FEB MAR LATEST DATA PLOTTED WEEK ENDING: MAY 13, 1981 1/ ADJUSTED MONETARY BASE LESS CURRENCY HELD BY THE NONBANK PUBLIC (MEMBER BANK RESERVES AT FEDERAL RESERVE BANKS ( + ) CURRENCY HELD BY COMMERCIAL BANKS ). ADJUSTED BANK RESERVES COMPOUNDED ANNUAL RATES OF CHANGE 5/14/80 AVERAGE OF FOUR WEEKS ENDING: 8/13/80 10/15/80 11/12/80 12/10/80 1/14/81 2/11/81 3/11/81 0.0 0.9 1.3 9.2 7.2 2.5 TO THE AVERAGE OF FOUR WEEKS END 1NG: 10/15/80 11/12/80 12/10/80 1/14/81 2/11/81 3/11/81 4/15/81 5/13/81 9.4 11.7 11.7 7.9 5.2 6.4 5.9 5.7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 17. 1 15.8 8.7 4.5 6.3 5.7 5.4 18.3 5.4 0.0 3.3 3. 1 3. 1 -2.5 -6.7 -1.3 -0.5 0.0 - 13.9 -5.0 -3.0 -2.0 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4 MONEY STOCK ( Ml A ) averages of 400 daily figures SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS ----- ------------ ----------400 ------------ 1--------------- 1------ BILLIONS. 366. I __ APR. 365.8 363.3 366.9 365.0 I I I 1 I I I 1 5 19 2 16 30 14 28 l» 25 MAY JUN 0 23 6 20 AUG 3 17 SEP 1 15 20 12 26 10 24 7 21 JAN A 18 I 15 20 IS 27 FEB 1980 LATEST OATA PLOTTED WEEK ENDING, MAY 13, 1981 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' ^gL^i!KD^C^gI^YHEffBf^R^UGa H.6 RELEASE. KMWS- BY ™E ” MONEY STOCK I MIA) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING 5/14/80 8/13/80 I0/I5/B0 11/12/80 12/10/80 1/14/81 2/11/81 3/11/81 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/15/80 11/12/80 12/10/80 1/14/81 2/11/81 3/11/81 4/15/81 5/13/81 13.0 12.6 10.9 6.0 1.2 0.4 -0.2 0.0 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 12.3 9.3 2.0 -4.2 -4.6 -4.7 -3.9 5.2 -5.0 -12.2 -11.4 -10. 1 -8.5 -1 1 .2 -18.2 -15.9 -13.5 -11.2 -25.2 -20.2 -16.2 -13.1 -20.8 -15.0 -11.2 -6. I -3.5 -1.6 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONEY STOCK ( MlB ) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 440 1981 APR. BILLIONS 428.9 427.9 432.2 427.8 431 .0 425 420 415 410 405 400 395 390 385 380 1111111 4 JAN LATEST DATA PLOTTED WEEK ENDING: MAY 13, CURRENT DATA APPEAR 18 FEB 4 18 MAR 1981 IN THE BOARD OF GOVERNORS' H.6 RELEASE. MlB CONSISTS OF MIA PLUS OTHER CHECKABLE DEPOSITS AT ALL DEPOSITARY INSTITUTIONS. MONEY STOCK ( Ml B ) COMPOUNDED ANNUAL RATES OF CHANGE, 5/14/80 AVERAGE OF FOUR WEEKS ENDING: 8/13/80 10/15/80 11/12/80 12/10/80 1/14/81 2/11/81 3/11/81 14.4 13.6 13.6 13.5 13.5 13.0 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/15/80 11/12/80 12/10/80 1/14/81 2/11/81 3/11/81 4/15/81 5/13/81 15.3 15. 1 13.4 10.6 10.9 11.3 11.4 1 1.6 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 15.5 12.3 8.2 9. 1 9.8 10.2 10.5 8.0 3.0 5.5 7.2 8.2 8.9 -1.5 3.0 5.7 7.2 8. 1 3.3 6.6 8.2 9.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 6 YIELDS ON SELECTED SECURITIES AVERAGES OF DAILY RATES ENDED FRIDAY PERCENT 22.0 21 .0 21 .0 PRIME BANK LOAN RATE 20.0 20.0 19.0 18.0 17.0 16.0 15.0 14.0 13.0 CORPORATE AAA BONDS 12.0 1 1 .0 10.0 90 DAY CD'S NICIPAL 9.0 8.0 7.0 3 27 MAR JUN APR 11 25 8 22 5 19 3 17 31 14 28 NOV JUL 12 0 28 DEC 1980 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING: MAY 22, 1981 MAR. APR. MAY 6 13 20 27 3 10 17 24 1 8 15 22 X 29 1981 90 DAY CD’S PRIME COMMERCIAL PAPER aee* PRIME BANKERS' ACCEPTANCES CORPORATE Aaa BONOS CORPORATE Baa BONDS MUNICIPAL BONDS « 15.74 14.92 13.53 13.82 13.65 14.89 15.38 15.37 15.95 18.36 18.80 18.44 15.11 14.30 12.96 13. 19 13.22 14.22 14.70 14.75 15.24 17.52 17.89 17.45 15.22 14.31 13.09 13.44 13.31 14.59 14.89 14.92 15.55 17.85 18. 18 17.88 13.61 13.31 13.06 13.32 13.41 13.72 13.89 14.02 14.26 14.50 14.53 14. 18 15.49 15.40 15.20 15.27 15.25 15.42 15.61 15.71 15.80 15.94 15.96 15.99 10.40 10.34 9.81 10.09 10.21 10.45 10.70 10.80 10.94 10.90 10.83 N. A. X AVERAGES OF RATES AVAILABLE. „ _ XX BONO BUYER'S AVERAGE INDEX OF 20 MUNICIPAL BONDS, THURSDAY DATA. XXX 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 21 .0 21 .0 FEDERAL FUNDS RATE 20.0 20.0 19.0 18.0 17.0 16.0 16.0 15.0 14.0 13.0 5-YEAR TREASURY SECURITIES 12.0 11.0 11.0 DISCOUNT RATE 10.0 9.0 8.0 3-MONTH TREASURY BILL 7.0 I I I I I I I I 2 16 30 13 27 JUN 11 25 8 22 5 19 3 17 31 14 28 12 26 9 23 6 20 FEB JUL MAR 1980 LATEST DATA PLOTTED ARE AVERAGES OF RATES AVAILABLE FOR THE WEEK ENDING; MAY 22, 1981 MAR. 6 13 20 27 APR. 3 10 17 24 MAY 1 8 15 22 29 X 1981 FEDERAL FUNDS XX 3-MONTH TREASURY BILL 6-MONTH TREASURY BILL XXX 1-YEAR TREASURY BILL 5-YEAR TREASURY SECURITIES LONG-TERM TREASURY SECUR1T1ES 15.73 15.53 14. 13 13.48 14.93 15.43 15.33 15.55 16.28 18.91 18.21 18.89 14.44 13.79 12.63 12.91 12.60 13.67 13.66 13.74 14.52 16.44 16.75 16.59 14. 13 13.43 12. 10 12.27 12.08 13.78 13.65 13.62 14.04 15. 10 15.53 15.03 13.07 12.46 11.69 12.09 11.86 12.53 12.80 13.05 13.41 14.44 14.68 14.43 13.76 13.33 12.98 13.55 13.46 13.84 14.01 14. 14 14.36 14.94 14.88 14.48 12.88 12.51 12.20 12.74 12.68 13.02 13.11 13.12 13.37 13.78 13.60 13.26 X AVERAGES OF RATES AVAILABLE. let SEVEN-DAY AVERAGES FOR WEEK ENDING WEDNESDAY TWO DAYS EARLIER THAN DATE SHOWN. CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.9 RELEASE. mmm NEW ISSUE RATE RATES ON LONG-TERM TREASURY SECURITIES ARE COMPUTED BY THE FEDERAL RESERVE BANK OF ST. LOUIS. 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 MULTIPLIERS^ CURRENCY OF MONEY STOCK MEASURES v AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED RATIO MONEY MULTIPLIERS RATIO MAY I I I I I I I I I I 1 I I I I I LATEST DATA PLOTTED WEEK ENDING: MAY 13, 1981 BILLIONS OF DOLLARS *22 --------- ,------------ ,----- BILLIONS OF DOLLARS ----- ------------ ---------- 122 “ COMPOUNDED ANNUAL RATES OF CHANGE. AVERAGE OF ---- THE FOUR WEEKS ENDING MAY 13. 1981 FROM - THE FOUR WEEKS ENDING: - MAR. FEB. - JAN. DEC. - NOV. AUG. - MAY 11, 11, M, 10, 12, 13, 14, 1981 1981 1981 1980 1980 1980 1980 9.7 9.2 7.8 7.3 7.1 7.7 8.8 CURRENCY 1981 BILLIONS LI I I I I I I I I I I I I I I 5 19 2 16 30 14 28 11 25 9 23 6 20 3 17 1 15 29 12 26 10 24 7 21 JAN 4 18 4 18 1 15 29 13 27 FEB LATEST DATA PLOTTED WEEK ENDING: MAY 13, 1981 1/ RATIO OF MONEY STOCK (MIA) OR ( MlB ) 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) AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 280 BILLIONS __ APR. 247.6 246.4 244.0 247.4 245.5 JAN FEB MAR 1980 LATEST DATA PLOTTED WEEK ENDING: MAY 13. CURRENT DATA APPEAR 1981 IN THE BOARD OF GOVERNORS' H.6 RELEASE. DEMAND DEPOSIT COMPONENT OF MONEY STOCK (MIA) COMPOUNDED ANNUAL RATES OF CHANGE, AVERAGE OF FOUR WEEKS ENDING: 5/14/80 8/13/80 10/15/80 11/12/80 12/10/80 1/14/81 2/11/81 3/11/81 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/15/80 11/12/80 12/10/80 1/14/81 2/11/81 3/11/81 4/15/81 5/13/81 14. 1 13.6 1 1.3 4.6 -1.8 -3. 1 -3.9 -3.8 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 13.5 9.6 -0.4 -8.7 -9.6 -9.7 -8.9 3.9 -9.8 -19.2 -18.4 -16.9 -15. 1 -17.7 -26.7 -24.0 -21 . 1 -18.5 -35.4 -29.7 -24.8 -21.1 -30.6 -23.4 -18.9 -12.4 -9.3 -6.8 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 TO SAVINGS PLUS SMALL TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS BILLIONS OF DOLLARS 495 BJLLIQNS 490 484.3 484.4 483.6 483.9 484.7 485.5 485 480 475 470 465 460 I I I I 5 19 2 16 30 14 28 11 25 9 23 6 20 AUG 1980 LATEST DATA PLOTTED WEEK ENDING: 3 17 SEP MAY 13, 1981 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS1 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: 5/14/80 8/13/80 10/15/80 11/12/80 12/10/80 1/14/81 2/11/81 3/11/81 2.9 3.8 3.0 4.2 3.0 3.2 TO THE AVERAGE OF FOUR WEEKS ENDING: 10/15/80 11/12/90 12/10/80 1/14/81 2/11/81 3/11/81 4/15/81 5/13/81 10. 1 10.6 1 1 . 1 10. 1 9.4 8.7 8.4 7.7 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis 9.8 10.8 9.3 8.4 7.6 7.3 6.5 13.9 10.2 8.5 7.3 7.0 6. 1 8.7 6.9 5.9 5.8 5.0 3.8 3.5 4.0 3.3 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS BORROWINGS FROM FEDERAL RESERVE BANKS AVERAGES OF DAILY FIGURES billions of dollars 1981 BILLIONS OF DOLLARS 5.5 MILLIONS APR. 15 1142 29 2278 20 1975 5.0 4.5 4.0 3.5 3.5 - 3.0 2.5 2.0 1.5 1.0 1.0 - 0.5 I I I I 5 19 2 16 30 14 28 II 25 9 23 6 20 AUG 1980 3 0 17 SEP LATEST DATA PLOTTED WEEK ENDING; MAY 20, 1981 BUSINESS LOANS ( COMMERCIAL AND INDUSTRIAL ) WEEKLY REPORTING LARGE COMMERCIAL BANKS SEASONALLY ADJUSTED BILLIONS OF DOLLARS 178 1 1 1 “ COMPOUNDED ANNUAL RA TES 176 — OF CHANGE. AVERAGE 0 _ THE FOUR WEEKS END IN G MAY 13, 1981 FROM 174 “THE FOUR WEEKS END 1 NG: -----~~ MAR. 1 1 , 1981 14.4 172 FEB. 11, 1981 4.2 — JAN. 14, 1961 3.2 4.0 170 — DEC. 10, 1980 _ NOV. 12, 1980 7.9 AUG. 13, 1980 11.9 168 9. 1 MAT 14, 980 - 176 174 A/ V r1y 162 154 172 H- 170 j 168 - 166 - 164 - - v\ /N - 162 V 158 152 \ — 1 r - 160 156 . ■A / 166 164 BILLIONS OF DOLLARS 178 160 - /V. 198 - 111 8 170,400 15 170,070 22 171,678 29 173,312 MAY 6 175,469 13 174,831 INI 11111111111 7 21 4 JAN FEB - !lll 1 1 IX 111 111 1111 _LLL 1.1 1 _U.il.. u i 1111 0 5 19 2 1 6 30 M 28 M 25 9 23 6 20 3 17 1 15 29 12 26 10 24 MAR M1LL1QN5 APR. APR MAY • JUN JUL AUG 1980 SEP OCT NOV DEC 18 4 18 MAR 1981 I 15 29 APR ~ _ ~ r 13 27 MAY LATEST DATA PLOTTED WEEK ENDING: MAY 13, 1981 http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 11 158 156 154 152 0 12 LARGE TIME DEPOSITS ALL COMMERCIAL BANKS AVERAGES OF DAILY FIGURES SEASONALLY ADJUSTED BILLIONS OF DOLLARS ILL IONS OF DOLLARS 224 ILL IONS 222 ___APR. 220 218 216 214 212 210 208 206 204 202 200 192 190 188 I I I I LATEST DATA PLOTTED MEEK ENDING: UAY 13, 1981 CURRENT DATA APPEAR IN THE BOARD OF GOVERNORS' H.6 RELEASE. TIME DEPOSITS ISSUED IN DENOMINATIONS OF 4100,000 OR MORE. http://fraser.stlouisfed.org Federal Reserve Bank of St. Louis PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 0