Greenbook/Tealbook

Prefatory Note The attached document represents the most complete and accurate version available based on original copies culled from the files of the FOMC Secretariat at the Board of Governors of the Federal Reserve System. This electronic document was created through a comprehensive digitization process which included identifying the bestpreserved paper copies, scanning those copies, 1 and then making the scanned versions text-searchable. 2 Though a stringent quality assurance process was employed, some imperfections may remain. Please note that this document may contain occasional gaps in the text. These gaps are the result of a redaction process that removed information obtained on a confidential basis. All redacted passages are exempt from disclosure under applicable provisions of the Freedom of Information Act. 1 In some cases, original copies needed to be photocopied before being scanned into electronic format. All scanned images were deskewed (to remove the effects of printer- and scanner-introduced tilting) and lightly cleaned (to remove dark spots caused by staple holes, hole punches, and other blemishes caused after initial printing). 2 A two-step process was used. An advanced optimal character recognition computer program (OCR) first created electronic text from the document image. Where the OCR results were inconclusive, staff checked and corrected the text as necessary. Please note that the numbers and text in charts and tables were not reliably recognized by the OCR process and were not checked or corrected by staff. CONFIDENTIAL (FR) CLASS III - FOMC December SUPPLEMENT CURRENT ECONOMIC AND FINANCIAL CONDITIONS Prepared for the Federal Open Market Committee By the Staff Board of Governors of the Federal Reserve System 15, 1995 TABLE OF CONTENTS Page THE FINANCIAL ECONOMY Tables Selected financial market quotations Commercial bank credit . . . . . . . . . . . . . Selected Financial Market Quotations' (Percent except as noted) 1994 Instrument 1995 ] Feb. 3 Change to Dec. 14,1995 from. FOMC. , High Nov. 15 1994 Dec. 14 Feb. 3 _ 1994 FOMC, high Nov. 15 -0.52 -1.19 -1.78 -0.13 -0.12 -0.13 -0.25 -0.68 0.06 -0.10 -0-29 -0.73 -1.36 0.06 -0.08 -0.11 Short-term Rates Federal Funds 2 Treasury Bills3 3-month 6-month I-year Commercial paper 1-month 3-month Large negotiable CDs 3 1-month 3-month 6-month Eurodollar deposits 4 1-month 3-month 5.81 5 69 2.75 2.44 -0.25 -0.69 0.12 -0.06 Bank Prime Rate 8.75 2.75 0.25 0.00 5A2 5.74 6.08 0.82 -0.07 -0.23 -2.40 -2.30 -2.08 -0.21 -0.26 -0.22 711 -0.24 Intermediate- and Long-term Rates U.S. Treasury (constant maturity) 3-year SO-year 30-year Municipal revenue (Bond Buyer)' Corporate-A Utility. recently offered Home mortgages6 FHLMC 30-yr fixed rate FHLMC I-yr adjustable rate 7.37 7.15 Stock Exchange ndex Dow-Jones Industrial 5216.47 12/13/95 2144.64 4922.75 5182.15 -0.66 141.63 5.27 113.70 3.99 174.25 -0.35 NYSE Composite 331 17 12/13/95 154.00 316.47 329.10 -0.63 NASDAQ(OTC) 1069.79 12/4/95 378.56 1041.85 1038.19 -2.95 -0.82 121.97 6034.56 2718.59 5847.40 12/13/95 Wilshire 6084.51 I. One-day quotes except as noted, 2. Average for two-week reserve maintenance period closest to date shown. Last observation is average to date for maintenance period ending November 8. 1995. 3. Secondary market. 4. Bid rates for Eurodollar deposits at 11 a.m. London time. 5. Most recent observation based on one-day Thursday quote and futures market index changes 6. Quotes for week ending Friday previous to date shown 3.20 Commercial Bank Credit (Percentage change; seasonally adjusted annual rate) 1 Level, Type of credit 1994 1995 Q2 1995 Q3 1995 Sep 1995 Oct 1995 Nov Nov 1995 (billions of $) Commercial bank credit 1. Total loans and securities 6.9 13.3 6.2 7.1 2. Securities 5.2 15.5 -2.6 6.7 3. U.S. government 1.2 -5.6 -2.4 -4.6 4. Other 2 21.0 84.9 -3.3 7.6 12.4 5. Loans 3 1.0 1.6 3,559.7 -4.7 972.0 8.3 .2 712.6 37.2 -25.9 -17.8 259.4 9.6 7.2 1.9 4.0 2,587.7 -1.1 6. Business 9.0 12.5 71 6.5 1.4 8.7 708.5 7. Real Estate 6.4 8.4 9.1 4.4 3.0 1.8 1,076.0 8. Home Equity 2.3 6.9 6.7 4.6 0.0 6.1 79.1 9. Other 6.8 8.5 9.3 4.4 3.3 1.4 996.9 15.1 11 7 9.6 7.2 -.2 4.9 491 1 15.2 16.1 15.4 17.4 10.3 12.0 607.4 -12.6 69.8 3.7 35.5 -33.1 -11.3 83.9 2.4 13.9 22.0 11.9 16.6 2.6 228.2 10. 11. Consumer Adjusted 4 12. Security 13. Other 5 1. Monthly levels are pro rata averages of Wednesday data. Quarterly and annual levels (not shown) are simple averages of monthly levels and levels for the fourth quarter respectively. Growth rates shown are percentage changes in consecutive levels, annualized but not compounded. 2. Includes municipal securities, foreign government securities, corporate bonds, equities, and trading account assets. 3. Excludes interbank loans. 4. Includes estimates of consumer loans that have been securitized by banks and are still outstanding. 5. Includes loans to nonbank financial institutions, farmers, state and local governments, banks abroad, foreign governments, and all others not elsewhere classified. Also includes lease financing receivables. 

Federal Reserve (1995, December 18). Greenbook/Tealbook. Greenbooks, Federal Reserve. https://whenthefedspeaks.com/doc/greenbook_19951219_part3

@misc{wtfs_greenbook_19951219_part3,
  author = {Federal Reserve},
  title = {Greenbook/Tealbook},
  year = {1995},
  month = {Dec},
  howpublished = {Greenbooks, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/greenbook_19951219_part3},
  note = {Retrieved via When the Fed Speaks corpus}
}