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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.