Full text of H.6 Money Stock Measures : August 16, 1984
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
FEDERAL RESERVE statistical release H.6 (508) Table 1 For Release at 4:30 Eastern Time MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES AUGUST Billions of dollars M1 Sum of currency, travelers checks, demand deposits and other checkable deposits1 Date M2 M1 plus overnight RPs and Eurodollars, MMMF balances (gen. pur. and broker/dealer), MMOAs, and savings and small time deposits' M3 M2 plus large time deposits, term RPs, term Eurodollars and institution-only MMMF balances' 16, 1984 L Debt M3 plus other liquid assets4 tlonfinancial sectors* Debt of domestic Seasonally adjusted 1983—JULY AU6 SEPT. OCT. HOY. DEC. 514.9 517.4 518.9 521.6 523.0 525.3 2126.6 2135.3 2147.9 2167.2 2182.1 2196.2 2604.0 2617.2 2636.7 2656.4 2686.9 2707.8 3059.7 3075.1 3097.9 3114.0 3144.8 3178.0 4983.8 5024.7 5066. 1 5109.3 5153.1 5204.5 1984—JAN. FEB. MAS. APB. MAY JUNE JULY P 530.0 532.9 535.1 535.4 541.1 546.2 545.5 2206.8 2222.5 2229.9 2242.9 2258.6 2271.7 2281.0 2721.4 2744.1 2765.3 2790.0 2815.9 2837.3 2858.1 3197.1 3226.8 3268.8 3295.3 3327.1 5260.1 5317.2 5371.5 5431.7 5498.6 Not seasonally adjusted 1983—JULY AUG. SEPT. OCT. NOV. DEC. 516.6 513.5 516.3 522.3 526.7 537.8 2131.9 2133.3 2142.2 2167.1 2181.2 2198.0 2604.0 2615.6 2631.3 2655.0 2687.9 2713.9 3052.5 3070.6 3085.7 3109.9 3146.0 3185.8 4957.3 5000.2 5048.4 5095.4 5138.9 5197.7 1984—JAN. 534.8 521.8 528.1 543.2 534.9 545.5 547.2 2210.5 2212.3 2230.9 2254.7 2253.5 2273.5 2286.1 2727.3 2736.8 2766.5 2798.5 2811.2 2836.0 2857.0 3208.7 3228.3 3275.1 3306.8 3323.0 5254.2 5301.7 5352.9 FEB. MAR. APB. MAY JUNE JULY P 5409.2 5471.0 M1 For period ended 1984-JULY 2 9 16 23 30 P AUG. NOTE: 6 P 13-week average Seasonally adjusted 4-week average 541.3 542. 1 542.9 543.9 544.4 546.1 545.7 546. 1 545.7 545.1 545.0 545.2 week average 544.7 c 546.8 546.5 544.8 542.1 547.3 13-week average Not seasonally adjusted 4-week average week average 541.4 542.2 542.3 542.2 542.5 545.1 546.7 548. 1 549.6 546.8 553. 4 543.2 544.3 54fl.7 545.1 55R.7 5U1. 1 533.9 SPECIAL CAUTION SHOULD BE TAKEN IN INTERPRETING BEEK-TO-WEEK CHANGES IN MONEY SUPPLY DATA, WHICH ARF HIGHLY VOLATILE AND SUBJECT TO REVISION. P—INDICATES PRELIMINARY DATA. FOOTNOTES APPEAR ON THE FOLLOWING PAGE H.6 (508) Table 2 MONEY STOCK, LIQUID ASSETS AND DEBT MEASURES Percent change at seasonally adjusted annual rates M1 M2 M3 Debt1 3 MOUTHS FBOH APS. 1984 TO JOLT 1984 7.5 6.8 9.8 13.6 6 MONTHS FBOH JAM. 1984 TO JULY 1984 5.8 6,7 10.0 13.4 12 MONTHS FBOH JULY 1983 TO JULI 1984 5.9 7.3 9.8 12.7 THIRTEEN WEEKS ENDING AUG. 6, 1984 FROM THIRTEEN REEKS ENDING; 1/ 1/ 2/ 3/ 4/ 5/ HAY. 7, 1984 (13 WEEKS PREVIOUS) 7.4 FEB. 6, 1984 (26 SEEKS PBEVIOUS) 6.8 AUG. 8, 1983 (52 SEEKS PBEYIOUS) 6.4 GROWTH BATES FOB DEBT ABB BASED OH PEBIODS BEGINNING AND ENDING TWO HONTHS EABLIEB THAN FOB THE HONETABI AGGBBGATES, NAMELY, FEBBUABY 1984 TO HAY 1984, NOVEMBEB 1983 TO MAY 1984, AND HAY 1983 TO HAY 1984, BESPECTITELY. FOOTNOTES TO TABLE 1 CONSISTS OF (1) CUfiBENCY OUTSIDE THE TREASURY, FEDEBAL BESEBVE BANKS, AND THE YAULTS OF COHHEBCIAL BANKS; (2) TBAVELEBS CHECKS OF NONfiANK ISSUERS; (3) DEMAND DEPOSITS AT ALL COHHERCIAL BANKS OTHEB THAN THOSE DDE TO DOMESTIC BANKS, THE U.S. GOVERNMENT, AND FOBEIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEHS IN THE PBOCBSS OF COLLECTION AND FBDEBAL BESEBVE FLOAT; AND (4) OTHEB CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE OBDEB OF WITHDRAWAL (NOU) AND AUTOMATIC TRANSFER SERVICE (ATS) ACCOUNTS AT DEPOSITOBY INSTITUTIONS, CREDIT UNION SHABE DRAFT ACCOUNTS AND DEMAND DEPOSITS AT THRIFT INSTITUTIONS. THE CUBBENCY AND DEMAND DEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AND DEMAND DEPOSITS, RESPECTIVELY, HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES. CONSISTS OF Ml PLUS OVERNIGHT (AND CONTINUING CONTRACT) RPS ISSUED BY ALL COMMERCIAL BANKS AND OVERNIGHT EUBODOLLARS ISSUED TO U.S. RESIDENTS BY FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE, HHDAS, SAVINGS AND SHALL DENOMINATION TIME DEPOSITS (TIME DEPOSITS—INCLUDING RETAIL RPS—IN AMOONTS OF LESS THAN $100,000), AND BALANCES IN BOTH TAXABLE AND TAX-EXEMPT GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUNDS. EXCLUDES IRA AND KEOGH BALANCES AT DEPOSITORY INSTITUTIONS AND MONEY MARKET FUNDS. ALSO EXCLUDES ALL BALANCES HELD BY U.S. COHHERCIAL BANKS, HONEY MARKET FUNDS (GENERAL PURPOSE AND BROKER/DEALER), FOBEIGN GOVERNMENTS AND COHHERCIAL BANKS, AND THE U.S. GOVERNMENT. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIHE AND SAVINGS DEPOSITS. CONSISTS OF M2 PLUS LARGE DENOMINATION TIME DEPOSITS (IN AMOUNTS OP $100,000 OB MOBE) AND TEBH RP LIABILITIES ISSUED BY COHHERCIAL BANKS AND THRIFT INSTITUTIONS, TERM EURODOLLARS HELD BY U^S. RESIDENTS AT FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE AND AT ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA, AND BALANCES IN BOTH TAXABLE AND TAX-EXEMPT INSTITUTION-ONLY MONEY MARKET MUTUAL FUNDS. EXCLUDES AMOUNTS HELD BY DEPOSITORY INSTITUTIONS, THE U.S. GOVERNMENT, HONEY MARKET FUNDS, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY INSTITUTION-ONLY MONEY MARKET MUTUAL FUNDS. CONSISTS OP M3 PLUS THE NONBANK PUBLIC HOLDINGS OF U.S. SAVINGS BONDS, SHORT-TERM TREASURY SECURITIES, COMHERCIAL PAPER AKD BANKERS ACCEPTANCES, NET OF MONEY MARKET MUTUAL FUND HOLDINGS OF THESE ASSETS. DEBT OF DOMESTIC NONFINANCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MARKET DEBT OF THE UNITED STATES GOVERNMENT, STATE AND LOCAL GOVERNMENTS AND PRIVATE NONFINANCIAL SECTORS. PRIVATE DEBT CONSISTS OF CORPORATE BONDS, MORTGAGES, CONSUMER CREDIT (INCLUDING BANK LOANS), OTHER BANK LOANS, COMMERCIAL PAPER, BANKERS ACCEPTANCES AND OTHER DEBT INSTRUMENTS, THE DATA ARE DERIVED FROM THE FEDERAL RESERVE BOARD'S FLOW CF FUNDS ACCOUNTS. ALL DATA ON DEBT OF DOMESTIC NONFINANCIAL SECTORS ARE PRESENTED IN MONTH-AVER AGE FORM, DERIVED BY AVERAGING MONTH-END LEVELS OF ADJACENT MONTHS. THE DATA HAVE ALSO BEEN ADJUSTED TO REMOVE STATISTICAL DISCONTINUITIES THAT MAY ARISE IN THE UNDERLYING FLOW OF FUNDS STATISTICS. THE PRESENTATION OF DEBT DATA IN THIS RELEASE DIFFERS, THEREFORE, FROM THE QUARTERLY FLOW OF FUNDS STATISTICS CONTAINED IN IN THE FEDERAL RESERVE RELEASES Z.7 AND Z. U IN THOSE RELEASES, PUBLISHED LEVELS OF CREDIT MARKET DEBT ARE MEASURED ON A A QUARTER-END BASIS AND INCLUDE DISCONTINUITIES. H.6(508) Table 3 COMPONENTS OF THE MONEY STOCK Billions of dollars, seasonally adjust** Nontransactlons components in M3 in M2* only* Savings deposits7 at at thrift total commercial banks institutions Selected nontransactions Items Small time deposits1 at at total commercial thrift banks institutions Demand deposits9 Other checkable deposits4 l1.6 l1.7 i1.7 244.5 243.7 243.0 123.4 125.6 126.4 1611.6 1617.9 1629.0 477.5 482.0 488.8 138.8 138.0 137.4 181.9 181.3 180.5 320.7 319.3 317.9 328.0 333.4 338.2 409.0 415.6 420.7 737.0 749.0 759.0 224.1 224.0 223.8 80.1 84.5 89.4 304.2 308.6 313.2 146.0 147*2 148.0 11 . 8 1.9 1.9 243.6 242.8 243.7 127.2 128.2 126.8 1645.6 1659.2 1670.9 489.2 504.7 511.7 137.0 136.1 134.6 180.2 179.2 178.2 317.1 315.4 312.9 344.8 350.0 353.1 428.2 435.5 440.0 773.0 785.5 793.1 221.7 224.2 225.5 93.9 96.6 100.4 315.6 320.8 325.9 1984-JAN. FEB. MAR. 149.9 150.2 150.9 4.9 5.0 5.0 244.5 243.8 244.0 130.7 133.8 135.2 1676.8 1689.6 1694.8 514.7 521.7 535.3 132.1 130.1 128.9 177.7 176.5 176.6 309.9 306.6 305.5 352.9 352.8 353.5 444.1 448. 1 449.9 797.0 800.9 803.4 227.2 228.3 232.8 106.3 112.0 115.5 333.4 340.3 348.3 APR. HAT jaiE 151.8 152.9 154.2 5i1 5.1 5.1 245.3 245.3 248.3 133.2 137.8 138.6 1707.5 1717.5 1725.5 547.1 557.3 565.6 128.6 128.2 128.0 176.9 177.3 177.2 305.5 305.5 305.2 356.0 360.5 365.7 452.4 456.1 463.3 808.3 816.7 829.1 236.4 243.8 249.7 119.5 123.8 129.4 355.9 367.6 379.1 JULI P 155.0 5.2 247.1 138.2 1735.5 577.1 127.3 175.9 303.3 371.9 473.7 845.6 255.3 134.1 389.4 Data Currency Travelers checks1 142*4 143.5 144.8 OCT. •0?. DEC. 1983-JULT AUG. SEPT. Urc e time deposits* at at total commercial thrift 10 banks institutions IEBK ENDING 198U-JOLT 2 9 16 23 3 OP 154.1 155.0 155.1 155.3 155.4 249.2 247.7 248.2 246.8 242.5 136.2 138.9 138.0 137.5 139.1 127.8 128.0 127.5 127.2 126.8 368.4 370.0 371.2 372.6 374.3 252.1 253.3 254.8 256.7 257.3 AOG. 6P 155.8 246.7 139.5 126.8 375.8 254.8 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ 10/ C0BBEMCT OUTSIDE THE U.S. TREASURI, FEDERAL RESERVE BAHKS AMD VAULTS OF COMMERCIAL BANKS. EXCLUDES THE BSTIHATED AMOUNT OF TAOLT CASH HELD BT THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES. OUTSTANDING AMOUNT* OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS OP NONBANK ISSUERS. TRAVELERS CHECKS ISSUED BT DEPOSITOR! INSTITUTIONS ARE INCLUDED IN DEHAND DEPOSITS. DEHAND DEPOSITS AT COMMERCIAL BANKS AND FOREIGN RELATED INSTITUTIONS OTHER THAN THOSE DUE TO DOMESTIC BAHKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OP COLLECTION AND FEDERAL RESERVE FLOAT. EXCLUDES THE ESTIMATED AMOUNT OF DEMAND DEPOSITS HELD AT COMMERCIAL BANKS BT THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES. CONSISTS OF NOI AND ATS BALANCES AT ALL DEPOSITORT INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND DEHAND DEPOSITS At THRIFT INSTITUTIONS. OTHER CHECKABLE DEPOSITS SEASONALLT ADJUSTED EQUALS THE DIFFERENCE BETWEEN THE SEASONALLT ADJUSTED SUH OF DEHAND DEPOSITS PLUS OCD AND SEASONALLT ADJUSTED DEHAND DEPOSITS. INCLUDED ARE ALL CEILING FREE "SUPER MOWS," AUTHORIZED BT THB DEPOSITORT INSTITUTIONS DEREGULATION COMMITTEE TO BE OFFERED BEGINNING JANUART 5, 1983. SUH OF OVERNIGHT RPS AND OVERNIGHT EURODOLLARS, MONET MARKET FUND BALANCES (GENERAL PURPOSE AND BROKFB/DEALE1), HMDAS, AND SAVINGS AND SMALL TIME DEPOSITS, LESS THB CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF DEHAND DEPOSITS AND VAULT CASH HELD BT THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS LIABILITIES. SUH OF LARGE TIME DEPOSITS, TERM RPS AND TERM EURODOLLARS OF U.S. RESIDENTS, MONET MARKET FUND BALANCES (INSTITUTIONONLT), LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE BSTIHATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BT IHSTITUTION-ONLT MONET MARKET FUNDS. SAVINGS DEPOSITS EXCLUDE MHDAS. SHALL DENOMINATION TIME DEPOSITS—INCLUDING RETAIL R P S — ARE THOSE ISSUED IN AMOUNTS OF LESS THAN $100,000. ALL INDIVIDUAL RETIREMENT ACCOUNTS (IRA) AND KBOGH ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS ARE SUBTRACTED FROH SHALL TIME DEPOSITS. LARGE DENOMINATION TIME DEPOSITS ARK THOSE ISSUED IN AMOUNTS OF $100,000 OR MORE, EXCLUDING THOSE BOOKED AT INTERNATIONAL BANKING FACILITIES. LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS THOSE HELD BT MONET MARKET MUTUAL FUNDS, DEPOSITORT INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS. H.6 (508) Table 4 COMPONENTS OF LIQUID ASSETS AND DEBT Billions of dollars, seasonally adjusted Date savings bonds Non-M3 components of L bankers acceptances' short-term treasury securities1 commercial paper* Debt components4 federal debt non-federal debt 69.5 69.8 198.5 206.8 41.0 40.6 123.4 122.9 1063.7 1091.0 3813.4 3840.4 JULY AUG. SEPT. 70.1 70.3 70.5 219.6 222.9 221.6 41.6 43.6 43.8 124.4 121.0 125.3 1113.6 1128.2 1142*6 3870.2 3896.5 3923.5 OCT. MOV. DEC. 70.7 70.8 71.0 218.5 217.2 223.3 42.8 43.0 43.4 125.7 126.9 132.4 1156.0 1166.5 1174.0 3953.3 3986.6 4030.5 1984-JAN. FEB. MAR. 71.2 71.7 72.2 226.6 231.8 245.8 42.8 41.7 42.6 135.0 137.4 143.0 1191.3 1213.1 1220.7 4068.8 4104.1 4150.8 APB. HAT 72.5 72.8 241.8 240.0 43.3 45.4 147.7 152.9 1233.* 1253.1 4198.4 4245.5 1983-MAY JOHE 1/ 2/ 3/ 4/ CONSISTS OF U.S. TREASURY BILLS AMD COUPONS WITH REMAINING MATURITIES OF LESS THAN 12 MONTHS HELD BY OTHER THAN DEPOSITORY INSTITUTIONS, FEDERAL RESERVE BANKS, HONEY HAfiKET HUTUAL FUNDS AND FOREIGN ENTITIES. NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL RESERVE BANKS, FORBIGN OFFICIAL INSTITUTIONS, THE FEDERAL HOHE LOAN BANK SYSTEM AND MONEY MARKET HUTUAL FUNDS. TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BY HONEY MARKET HUTUAL FUNDS. DEBT DATA ARE ON A MONTHLY AVERAGE BASIS, DERIVED BY AVERAGING END-OF-MONTH LEVELS OF ADJACENT MONTHS, AND HAVE BEEN ADJUSTED TO REMOVE DISCONTINUITIES. H 6 (506) Table 5 COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT Billions of dollars, not seasonally adjusted Nontransactions components Other checkable deposits Date 1 Currency Travelers checks2 Demand deposits' at commercial banks4 at thrift institutions* total inM2* 7 in M3 only Overnight RPs' Overnight Eurodollars* General purpose and broker/dealer funds 143.6 143.8 144.3 5.2 5.1 5.0 244.9 241.1 242.0 91.9 92.4 93.4 31.0 31.1 31.6 122.9 123.5 124.9 1615.2 1619.8 1626.0 472. 1 482.3 489.1 43.5 42.0 42.8 9.6 10.4 10.7 138.7 139.1 137.9 OCT. NOV. DEC. 145.7 147.9 150.5 4.8 4.6 4.6 244.8 245.2 251.6 94.3 95.6 97.7 32.7 33.3 33.5 127.0 128.9 131.2 1644.8 1654.5 1660.2 487.9 506.7 515.9 45.3 44.9 44.8 11.7 10.3 11.4 137.5 138.8 138.2 1984-JAN. PEB. NAB. 148.4 148.3 149.8 4.6 4.7 4.8 249.4 237.9 239.4 99.2 97.8 99.7 33.2 33.2 34.4 132.5 130.9 134.1 1675.7 1690.5 1702.8 516.8 524.5 535.7 47.1 48.1 47.0 11.5 11.4 11.3 137.9 142.1 144.8 APR. HAT JURE 151.5 152.9 154.9 4.8 5.0 5.4 247.8 241.3 247.0 102.8 99.7 101.1 36.2 36.0 37.0 139.0 135.8 138.1 1711.5 1718.6 1728.0 543.8 557.6 562.5 46.4 47.0 43.9 11.1 12.2 12.3 146.0 146.5 148.8 JULY P 156.3 5.8 247.5 100.4 37.3 137.7 1738.9 570.9 43.1 12.8 150.4 1983-JULI AUG. SEPT. •EEK ERDIMG: 1984-JULY 2 9 16 23 30 P 154.8 157.8 156.8 156.0 155.0 248.4 253.3 252.2 243.3 238.8 99.3 103.1 101. 1 99.3 98.1 36.9 38.7 37.6 36.7 36.2 136.2 141.8 138.7 136.0 134.3 42.1 42.7 42.0 44.1 44.0 14.7 12.2 12.3 13.3 13.0 148.8 148.8 150.4 150.8 151.7 A0G. 6 P 157.1 246.5 101.3 38.1 139.4 43.5 10.8 151.5 1/ 2/ 3/ 4/ 5/ 6/ CUBRBMCT OUTSIDE THE &.S. TREASURY, FEDERAL FESERTE BARKS AMD THE TAULTS OP COHHERCIAL BARKS. EXCLUDES THE ESTIHATED AflOORT OF fAULT CASH HELD BT THRIFT INSTITUTIONS TO SERflCE THEIR OCD LIABILITIES. O0TSTARDIRG AHOUHT OF U.S. DOLLAR-DEHOHIHATED TRAfBLERS CHECKS OF RORBARK ISSUERS. TRAfELERS CHECKS ISS0BD BT DEPOSITOR! DEHARD DEPOSITS AT COHHERCIAL BARKS OTHER THAR THOSE DOB TO DOHESTIC BARKS, THE O.S. GOTERRHERT ARD FOBEIGR BARKS ARD OFFICIAL IRSTITOTIORs"LESS CASH ITEHS IR THE PROCESS OF COLLECTIOR AMD F.R. FLOAT. LESS THE BSTIHATED AHOUHT OF DEHARD DEPOSITS HELD AT COBHERCIAL BARKS BY THRIFT IRSTIT0TIORS TO SERflCE THEIR OCD LIABILITIES. CORSISTS OF NOR AMD ATS BALARCES AT COHHEBCIAL BARKS, O.S. BRARCHES AMD AGEHCIES OF FOREIGR BARKS, ARD HDGR ACT COBPOBATIORS. IRCLODES SUPER RORS OF $31.3 BILLIOR IM THE »BEK EMDED JULY 23, $31.2 BILLIOR IR THE RFBK EMDED JOLT 30, AMD $31.8 BILLIOR IR THE REEK ERDED AUGUST 6. COISISTS OP IO« AID M S BAIAICBS AT SAKIGS AID 1 O M ASSOCIATION H D HOTUAL SAtlIGS B A M S , CBEDIT OIIOI SHABB DBAPT BALAHCES. AID DEBAID DEPOSITS AT TBBirTS. IBCtODES S0PE« IOIS OF $11.8 BILLION II THE HEEK BIDED JDII 23, 11.7 BILLIOI II T8E IEEK EIDBD JUII 30, AID $12.2 BILLIOI II THE HEEK EIDED AUGUST 6. .,„-.SOB OF OTBBIIGHT BPS AID EUBODOILABS. BOIEt BABKET POID BALAICBS (GEIEBAL PUBPOSB AID BIOKBB/DEALEB) , linDAS AID SATMOS AID U I U I U I DEPOSITS tBSS THE ESTIMATED AHOUIT OP DEI1AID DEPOSITS AID fADLT CASH HELD BT TBBIFT IISTIT0TIOIS TO SBBTICB 7/ r S p L « « r 5 S p O S « S ? T L S p s H D E 0 B O 0 O L t A « S OP U.S. BESIDEITS. HOIEI BABKBT POID BALAICES <"S«««OI-OIIT). tESS A COISOLIDATIOI ADJUSTHEIT THAT 8BPBESEITS THE ESTIHATBD AROUIT OP OTEBIIGHT BPS AID EOBODOLIABS HELD B t I I S T I T O T I O I - O I L T 8/ CoSsiS?foroJM2iGH?°l!SD"cOITIIiOIIC CONTRACT BPS ISSUED BT COBBSBCIAl BAMS TO OTHEB TBAB DEPOSITOBT IISTITOTIOIS AID V ^^ED^r^BEfB BONE? HAHKET HOTOAL FORDS OTBE. THAI D E P O S I T IISTITUTIOIS AID (GERERAL PURPOSE AMD BROKER/DEALER). H.6 (508) Table 5-continued COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT Billions of dollars, not seasonally adjusted Date Money market deposit accounts at at commercial thrift total banks institutions at commercial banks Savings deposits i at thrift institutions total Small denomination time deposits2 at at commercial thrift total institutions banks Large denomination time deposits' at at thrift total commercial 4 institutions banks 218.4 218.9 221.1 152.2 149.7 148.4 370.5 368.6 369.5 140.6 138.3 136.4 184.2 181.5 179.8 324. 8 319. 8 316. 2 327.0 332.8 337.3 408.8 414.2 419.0 735. 8 747. 0 756. 3 220.7 223.8 224.2 79. 4 84. 7 90. 5 300. 1 308. 5 314. 8 OCT. NOV. DEC. 223.4 227. 1 230.0 147.1 145.8 145.9 370.5 372.9 376.0 135.8 133.7 132.0 180.1 178.3 176.5 316. 0 312. 0 308. 5 343.9 348.9 351.0 427.5 434.2 437.6 771. 4 783. 1 788. 6 222.1 225.5 229.0 95. 8 98. 3 100. 7 317. 9 323. 7 329. 7 1984-JAN. FEB. HAB. 234.2 238.3 242.6 146.2 147.7 149.9 380.3 386.0 392.5 131.3 129.9 130.2 176.2 175.3 177.0 307. 4 305. 2 307. 2 353.7 355.4 356.0 445.7 450.0 451.6 799. 4 805. 4 807. 6 229.3 229.7 233.1 105. 7 111. 2 114. 2 APB. JUNE 245.4 244.3 244.9 151.0 150.2 148.0 396.4 394.6 392.9 130.5 129.9 129.7 178.1 178.3 178.9 308. 7 308. 2 308. 6 356.5 360.5 365.4 454.2 457.2 463.7 810. 7 817. 6 829. 1 233.7 241.6 247.3 118. 2 123. 3 128. 2 335. 0 340. 9 347. 3 351. 9 364. 9 375. 5 JULY P 243.9 145.0 388.9 128.9 178.1 307. 0 370.8 473.5 844. 3 252. Q 132. 8 384. 8 1983-J0LY AUG. SEPT. HAY MEEK ENDING 1984 JULY 2 30 P 243.9 244.5 244.3 243.6 243.2 129.5 130.0 129.3 128.6 127.7 367.4 368.8 370.0 371.4 373.3 249.4 249.7 250.9 253.2 254.6 6 P 242.8 127.4 375.2 254.2 9 16 23 AUG. 1/ 2/ 3/ 4/ SAVINGS DEPOSITS EXCLUDE HHDAS. SHALL DENOMINATION TIME DEPOSITS — INCLUDING BETAIL BPS — ABE THOSE ISSUED IN AHOUNTS OT LESS THAN $100,000. ALL INDIVIDUAL BETIBEHENT ACCOUNTS (ISA) AND KEOGH ACCOUNTS AT COHHEBCIAL BANKS AND THBIFTS ABE SUBTRACTED FHOH SHALL TIME DEPOSITS. L>,RGE DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AHOUNTS OF $100,000 OB HOBE, EXCLUDING THOSE BOOKED AT INTEBNATIONAL BANKING FACILITIES (IBFS). LARGE DENOMINATION TIHE DEPOSITS AT COMMERCIAL BANKS LESS THOSE HELD BY HONEY HABKET MUTUAL FUNDS, DEPOSITOBT INSTITUTIONS AND FOBEIGN BANKS AND OFFICIAL INSTITUTIONS. H.6 (508) Table 5-continued COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT Billion* of dollars, not Matonally adjuttod Term RPs Date Institution only money market funds at commercial banks at thrift institutions total Term Eurodollars1 Savings Non M3 Components of L Short-term Bankers treasury securities1 Components of Debt Commercial Of* Federal debt* Non Federal0 debt 38.6 38.4 38.8 29.6 31.6 31.9 14.8 15.2 16.1 44.3 46.9 48.0 92.1 91.9 90.7 69.9 70.2 70.4 214.1 217.9 216.7 40.9 43.1 43.8 123.7 123.9 123.5 1099.9 1116.1 1134.0 3857.4 3884.1 3914*4 OCT. NOV. DEC. 39.8 40.6 40.3 30.6 35.3 36.4 16.7 18.1 19.6 47.3 53.4 56.0 86.8 91.7 93.4 70.7 71.0 71.3 216.4 215.7 222.8 43.0 43.4 44.8 124.8 128.0 132.9 1147.6 1158.0 1170.2 3947.8 3980.9 4027.5 1984-JAN. FEB. BAB. 40.6 41.6 411.8 34.2 35.7 35.4 19.1 18.8 20.6 53.3 54.5 55.9 90.7 90.6 94.2 71.6 71.8 72.1 230.2 239.6 253.1 43.8 42.3 42.2 135.8 137.7 141.2 1189.8 1210.7 1223.6 4064.4 4091.0 4129.3 APR. HAY JUKE 42.0 42.3 36.2 35.7 32.5 23.6 25.9 27.0 59.8 61.6 59.5 93.7 93.8 89.4 72.3 72.6 246.2 240.8 42.6 44.9 147.1 153.6 1235.9 1248.7 4173.3 4222.3 JULY P 42.6 31.4 27.3 59.2 88.6 2 9 16 23 30 P 42.2 42.2 42.4 42.6 43.2 32.7 28.8 31.4 31.8 33.0 6 P 42.6 33.4 1983-JDLY AUG. SEPT. 41.8 WEEK ENDING: 1984-JULI AUG. 1/ 2/ 3/ 4/ 5/ 6/ TERM RPS ARE THOSE HITH ORIGINAL MATURITIES GREATER THAN ONE DAT, EXCLUDING CO NT III U ING COITRACTS AMD RETAIL IPS. TERM EURODOLLARS ARE THOSE WITH ORIGINAL MATURITIES GREATER THAN ONE DAT. CONSISTS OP THOSE ISSUED TO 0.S. RESIDENTS BT FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE AND BT ALL BANKING OFFICES 1$ THE UNITED KINGDOH AND CANADA. EXCLUDES THOSE HELB BY DEPOSITORY INSTITUTIONS AND MONET MARKET HUTUAL FUNDS. CONSISTS OF U.S. TREASURT BILLS AND COUPONS WITH REMAINING MATURITIES OF LESS THAN 12 MONTHS HELD BT OTBlt THAN DEPOSITORY INSTITUTIONS, FEDERAL RESERVE BANKS, MONEY MARKET MUTUAL FUNDS, AND FOREIGN ENTITIES. NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL HOME LOAN BANK SYSTEM AND HONEY MARKET HUTUAL FUNDS. TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BY HONEY MARKET HUTUAL FUNDS. DEBT DATA ABE ON A MONTHLY AVERAGE BASIS, DERIVED BY AVERAGING END-OP-MQNTH LEVELS OF ADJACENT MONTHS, AND HAVE BEEN ADJUSTED TO REMOVE DISCONTINUITIES. H.6 (508) Table 6 MEMORANDUM ITEMS Billions of dollars, not seasonally adjusted Demand deposits at banks due to Time and savings deposits due to foreign commercial banks and foreign official institutions U.S. government deposits demand deposits at commercial banks balances at Federal Reserve Banks note balances at commercial banks and thrift institutions total demand deposits and note and FR balances IRA and Keogh Accounts time and savings deposits at commercial banks foreign commercial banks foreign official institutions AUG. SEPT. 8.2 7.9 8.1 2.0 2.0 2.0 7.3 7.3 7.3 2.8 2.4 3.2 4.2 3.5 7.4 19.1 14.0 14.8 26.0 19.9 25.3 0.8 0.8 0.8 27.5 28.0 28.5 36.0 36.7 37.6 5.0 5.1 5.0 68.4 69.8 71.1 OCT. HOY. DSC. 8.0 8.4 8.2 1.9 2.0 2.0 7.1 7.2 7.1 2.7 2.7 3.0 7.1 2.9 3.6 22.0 4.7 7.8 31.8 10.4 14.4 0.8 0.7 0.7 28.9 29.5 30.1 37.8 38.3 39.5 5.1 5.1 5.0 71.8 72.9 74.6 1984-JAH. FEB. HAfi. 8.3 8.5 8.1 1.8 1.9 1.9 7.0 6.8 6.9 3. 1 3.1 3.0 4.7 4.5 4.0 16.5 19.2 14.5 24.2 26.8 21.5 0.9 0.9 0.9 31.0 32.7 34.7 41.0 42.8 44.6 5.2 5.5 5.7 77.2 81.0 85.0 APB. MAY JO MS 8.0 8.2 8.1 1.7 1.9 L8 7.2 7.4 7.5 3.8 2.7 3.9 7.5 4.2 3.8 12.7 10.0 24.0 17.0 16*1 0.9 0.9 0.8 38.3 39.5 40. t 47.6 49.2 50.0 6.1 6.3 6.3« 92.0 95.0 96.3tt JOLT P 8.2 1.8 7.2 2.8 4.0 9.0 15.9 0.8 40.6 50.1 6.3a 97. 2e 8.3 8.6 8.0 8.0 8.3 1.8 2.0 1.8 1.7 1.9 7.7 7.3 7.2 7.1 7.2 2.7 3.4 2.9 2.5 2.4 3.9 4.5 3.4 4.0 4.2 11.6 10.8 12.6 18.2 10.8 15.3 17.3 19.2 0.8 0.8 0.8 0.8 0.8 8.2 1.6 7.3 4.2 3.9 9.4 17.6 0.8 Date 1983-JULT WEEK EMDIMG: 1984 JULY 2 9 16 23 30 P AUG. 6 P estimated 2.9 9.0 commercial banks thrift institutions money market mutual funds total Supplementary Table 1 Levels and Annual Growth Rates of Ml Using Current^* and Experimental Alternative^ Seasonal Adjustment Procedures (Monthly average) Levels in billions of dollars Current Experimental Alternative Annual growth rates in percent Experimental Current Alternative 514.9 515.6 9.4 11.3 August 517.4 516.5 5.8 2.1 September 518.9 516.5 3.5 0.0 October 521.6 520.7 6.2 9.8 November 523.0 521.6 3.2 2.1 December 525.3 524.1 5.3 5.8 530.0 528.6 10.7 10.3 February 532.9 532.8 6.6 9.5 March 535.1 536.3 5.0 7.9 April 535.4 537.6 0.7 2.9 May 541.1 542.4 12.8 10.7 June 546.2 546.9 11.3 10.0 July 545.5 546.1 -1.5 -1.8 1983 - July 1984 - January 1. Current monthly seasonal factors are derived using an X-11/ARIMA-based procedure. 2. Alternative monthly seasonal factors are derived using an experimental modelbased procedure. This procedure uses a combination of statistical regression and time series modeling techniques to construct seasonal factors that are more sensitive than the current factors to unique characteristics of each series. These characteristics include fixed and evolving seasonal patterns, trading day effects, within-month seasonal variations, holiday effects, outlier adjustments, special events adjustments, and serially correlated noise components.