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FEDERAL RESERVE statistical release
H.6 (508)

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

APRIL

17, 19tf©

Billions of dollars

Date

M1

M2

M3

Sum of currency,
travelers checks,
demand deposits and
other checkable deposits1

M1 plus overnight RPs
and Eurodollars,
M M M F balances (gen. pur.
and broker/dealer), MMOAs,
and savings and small
time deposits 2

M2 plus
large time deposits,
term RPs, term Eurodollars
and institution-only
MMMF balances 3

L

Debt

M3 plus other
liquid assets 4

Debt of domestic
nonfinancial sectors'1

Seasonally adjusted

1985—flAR,
APR.
HAT
JUNE
JULY
AUG.
SEPT.
OCT.
MOV.
DEC

572.2
575.7
582.5
590.9
596.2
604.8
611.5
614.2
620. 1
626.6

2429.4
2434.4
2451.9
2479.0
2496.1
2515.4
2529-5 .
2538.3
2550.7
2565.5

3046.6
3052.0
306S.9
3098.0
3113.3
3131.4
3151.5
3166.2
3181.2
3200.5

3611.9
3617.4
3636.4
3665.7
3683.8
3711.7
3740.5
3762.4
3799.2
3837.3

6131.7
6194.5
6259.0
6323.5
6392.5
6461.9
6526.8
6594.0
6680.7
6802.1

1986—JAM.
FES.
BAR. P

627.2
631.0
638.4

2568.5
2576.3
2590.4

3224.2
3240.6
3258.9

3860. 1
3819.1

6905.9
69toi.O

Not seasonally adjusted

1 9 8 5 — BAR.
APR.
flAY
JUNE
JULX
AUG.
SEPT.
OCT.
NOV.
DEC

565.0
581.7
576.5
592.7
599.6
602.0
609.1
612.2
621.7
640.0

2430.9
2443.1
2444.1
2480.7
2501.0
2510.9
2521.0
2533.7
2549.0
2573.6

3046.9
3058.1
3063.9
3098.0
3110.8
3127.3
3145.0
3163.1
3184.7

3616.1
3626.1
3624.8
3664.9
3683.2
3709.5
J736.1
3760.0
3801.9
3843.5

61U3.8
6166.0
6231.6
6299.0
6369.7
6440.9
6509.4
6578.0
6665. 3
6795.0

1986—JAN.
rEB.
HAR* p

633.5
619.2
630.5

2577.3
2569.6
2592.5

3231.8
3232.5
3259.2

3865.3
3871.5

6898.3
6943. 3

M1
For period ended

1986-flAR.

1986-APR,

NOTE;

Not seasonally adjusted

Seasonally adjusted
13-week average

4-week average

3
10
17
24
31 P

628.4
629.5
630.5
631.4
632.3

632.1

7 P

633.6

week average

13-week average

4-week average

week average

637.0
639.1

632.0
637.7
638.7
639.5
640.3

630.9
630.5
629.3
628.4

620.0
622.7
625.8
628.2
630.4

621.6
634.5
631.7
624.9
630.3

641.1

645.7

626.0

636.1

657.3

633.7
635.7

631.1

SPECIAL CAUTION SHOULD BE TAKEN IB INTERPRETING 1EEK-TO-HEEK CHANGES IH HOME! SOPPLI DATA, HfllCH ARE
HIGHLY VOLATILE AMD SUBJECT TO REVISION.
P—INDICATES PSELIHINAfil DATA.
FOOTNOTES APPEAR ON THE FOLLOWING PAGE




H.6 (508)
Table 2

MONEY STOCK, LIQUID ASSETS AND DEBT MEASURES
Percent changt at seasonally adjusted annual rates

M1

M2

M3

Debt1

1985 1 0 MAR.

19 86

7.5

3.9

7.3

17.Q

6 HOMTHS FfiOa SEPT. 1985 TO MAR.

1986

8.8

4.8

6.8

15.6

1986

11.6

6.*

7-0

U.6

3 MONTHS FROH DEC.

12 HOMTHS FROM HAR.

1985 TO MAR.

TaiETEEI WEEKS ENDING I P S .
7 , 1986
FROM THIRTEEN JIEEKS ENDING:

1/

1/

2/

3/

V
5/

JAM.

6,

1986 ( 1 3 WEEKS PREVIOUS)

7.9

OCT.

7,

1985

(26 REEKS PREVIOUS)

9.2

APE.

8,

1985 ( 5 2 SEEKS PREVIOUS)

11.3

GROWTH RATES FOR DEBT ARE BASED ON PERIODS BEGINNING AND ENDING ONE MONTH EARLIER THAN FOR THE MONETARY AGGREGATES,
NAMELY, NOVEMBER 1985 TO FEBRUARY 1986, AUGUST 1985 TO FEBRUARY 1986, AND FEBRUARY 1985 TO FEBRUARY 1986, RESPECTIVELY
FOOTMOTES TO TABLE 1
CONSISTS OF (1) CURRENCY OUTSIDE THE TRBASURI, FEDERAL RESERVE BANKS, AND THE VAULTS OF COMMERCIAL
i
(2) TRAVELERS CHECKS OF BONBANK ISSUERS: (3) DEMAND DEPOSITS AT ALL COHHERCIAL BANKS OTHER THAJ THOSE DUE TO
DOMESTIC BANKS, THE U.S. GOVERNMENT, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEflS IN THE PROCESS
OF COLLECTION AND FEDERAL RESERVE FLOAT; AND (<*) OTHER CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE ORDER
OF BITHDRAMAL (MOM) AND AUTOMATIC TBANSFSH SERVICE (ATS) ACCOUNTS AT DEPOSITOR! INSTITUTIONS,
CREDIT UNION SHARE DRAFT ACCOUNTS AND DEMAND DEPOSITS AT THRIFT INSTITUTIONS. THE CURRENCI AMD DEMAND
DEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUMT OF VAULT CASH AND DEfiAND DEPOSITS, RESPECTIVELY, HELD BI
THRIFT INSTITUTIONS TO SERVICE THBIfi OCD LIABILITIESCO MS 15 TS OF HI PLUS OVERNIGHT (AND CONTINUING CONTRACT) EPS ISSUED BI ALL COMMERCIAL BANKS AND OVERNIGHT EURODOLLARS
ISSUED TO U.S. RESIDENTS BT FOREIGN BRANCHES OF U.S. BANKS HORLDHIDE, HMDAS, SAVINGS AND SHALL DENOMINATION
TIHS DEPOSITS (TIME DEPOSITS—INCLUDING RETAIL E P S — I N AMOUNTS OF LESS THAN $100,000), AND BALANCES IN BOTH
TAXABLE AND TAX-EXEMPT GENERAL PURPOSE AND BROKER/DEALER NONE* MARKET MUTUAL FUNDS. EXCLUDES IRA AND KEOGH
BALANCES AT DEPOSITOR! INSTITUTIONS AND HONE! MARKET FUNDS. ALSO EXCLUDES ALL BALANCES HELD B ! U.S. COMMERCIAL
BANKS, HONE! MARKET FUMDS (GENERAL PURPOSE AND BROKER/DEALER), FOREIGN GOVERNMENTS AND COMMERCIAL BANKS, AND
THE U.S. GOVERNMENT. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT
OF DEMAND DEPOSITS AND VAULT CASH HELD BI THRIFT INSTITUTIONS TO SERVICE THEIR TIMS AND SAVINGS DEPOSITS.
CONSISTS OF M2 PLUS LARGE DENOMINATION TIME DEPOSITS (IN AMOUNTS OF $100,000 OR MORE) AND TERM RP LIABILITIES ISSUED
BY COMMERCIAL BANKS AND THRIFT INSTITUTIONS, XEHM EURODOLLARS HELD fi! U.S. RESIDENTS AT FORELGM BRANCHES OF U.S. BANKS
IORLDUIDE AND AT ALL BANKING OFFICES IN THE UNITED KINGDOM AMD CANADA, AND BALANCES IN BOTH TAXABLE AND TAX-EXEMPT
INSTITUTION-ONLY MONEY MARKET MUTUAL FUNDS. EXCLUDES AMOUNTS HELD BI DEPOSITOR! INSTITUTIONS, THE U.S. GOVERNMENT, HONE!
MARKET FUNDS, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT RE^RESEUTS
THE ESTIMATED AMOUNT OF OVERNIGHT EPS AND EURODOLLARS HELD BI INSTITUTION-ONLY MONE! MARKET MUTUAL FOUDS^
CONSISTS OF fl3 PLUS THE NONBANK PUBLIC HOLDINGS OF U.S. SAVINGS BONDS, SHORT-TERH TREASURI SECURITIES, COMMERCIAL
PAPER AND BANKERS ACCEPTANCES, MET OF MONEY MARKET MUTUAL FUND HOLDINGS QF THESE ASSETS.
DEBT OF DOMESTIC NONFINANCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MARKET DEBT OF THE UNITED STATES GOVERNMENT,
STATE AND LOCAL GOVERNMENTS AND PRIVATE NOMFIMAMCIAL SECTORS. PRIVATE DEBT CONSISTS OF CORPORATE BOHDS, MORTGAGES,
CONSUMER CREDIT (INCLUDING BANK LOAMS), OTHER BANK LOANS, COMMERCIAL PAPER, BANKERS ACCEPTANCES AND OTHER DEBT
INSTRUMENTS. THE DATA ARE DERIVED FROM THE FEDERAL RESERVE BOARD'S FLOW Qf FUNDS ACCOUNTS. ALL DATA ON DEBT OF DOMESTIC
NONFINANCIAL SECTOOS ARE PRESENTED IM MONTH-AVERAGE FORM, DERIVED B ! AVERAGING MONTH-END LEVELS OF ADJACENT MONTHS. THE
DATA HAVE ALSO BEEM ADJUSTED TO REMOVE STATISTICAL DISCONTINUITIES THAT HAY ARISE IN THE UNDERLYING FLOH OF FUNDS STATISTICS.
THE PRESENTATION OF DEBT DATA IM THIS RELEASE DIFFERS, THEREFORE, FROM THE QUARTERLY FLOW OF FUNDS STATISTICS CONTAINED
IN THE FEDERAL 2ESERVE RELEASES Z. 7 AMD Z. 1. IM THOSE RELEASES, PUBLISHED LEVELS OF CREDIT MARKET DEBT ARE MEASURED ON
A QUARTER-END BASIS AND INCLUDE DISC0MTINUITI4S.




COMPONENTS OF THE MONEY STOCK

Date

Cwnency1

Travelers
checks'

Osmand
deposits9

Other
checkable
deposits4

Nontrensectlons
components

mm*

In IB
om/

SevtnQS deposits
at
thrift
banks
Institutions
at

total

Selected nontransactlons Items
SUM M time deposits
at
at
total
Institutions
banks

Larf M

at

time deposits'
at
ttlftft

banks19

total

lOSV ft lit IO**S

161.3

5.4

251.4

154.1

1857.2

617.2

121.1

168.7

289.7

385.2

499-7

885.0

268.2

152.7

421.0

APR.
HAY
JUNE

161.9
163.2
164.4

5.5
5.5
5.7

251.8
255.4
259.0

156.5
158.4
161.8

1858.7
1869.5
1888.1

617.6 ' 120.3
617.9
121.2
619.1
122. 1

168.7
169.6
171.5

289.0
290.8
293.6

387.1
387.7
387.6

500.5
501.8
502.6

887.6
809.5
890.3

272-3
269.3
267.3

153.6
155.7
155.4

425.9
425.0
422.7

JULY
AUG.
SEPT.

165.3
166.9
167.7

5.8
5.9
5.9

260.4
263. 1
266.4

164.8
169.0
171.5

1899.8
1910.6
1918.0

617.2
122.9
616.1
123.7
622.1 j 124.0

173.8
176.0
176.3

296.7
299.7
300.3

386.7
383.4
382.7

501.3
497.5
495.6

888.0
800.9
870.3

264.0
266.9
270.6

154.3
154.1
155.1

418.3
421.0
425.6

OCT.
NOV.
DEC.

168.7
169.8
170.6

5.9
5.9
5.9

266.0
267.8
271.5

173.7
176.7
178.6

1924.1
1930.5
1938.9

627.8 I 124.4
630.6
124.8
635.1
124.5

177.9
179.0
179.1

302.3
303.7
303.6

382.0
382.2
384.1

493.7
493.7
496.2

075.7
876.0
080.3

273.9
276.7
279.1

155.9
156.2
157.3

429.7
432.9
436.5

171.9
172.9
173.9

5.9
6.0
6.1

268.9
269.1
273. 1

180.5
183.1
185.3

1941.3
1945.3
1952.1

655.7
664.2
668.4

179.3
179.9
181.0

304.0
304.9
306.6

386.5
368.0
388.8

499.6
503.2
506.7

806.1
091.2
095.5

289.7
291.4
287.2

158.2
159.7
163.3

447.8
451.1
450.4

1985-HAR.

1986-JAN.
FEB.
BAR. P

124.7
125.0
125.6

REEK ENDING

1986
HAR.

APR.

1/
2/
3/

4/

5/
6/
7/
8/
9/
10/

3
10
17
24
31 P

172.7
173.6
173.8
174.2
174.6

270.6
272.7
273.4
273.8
273.5

182.7
185.4
185.4
185.4
186.0

125.2
125.6
125.8
125.9
125.4

387.9
388.5
388.9
389.1
389.2

288.2
286.8
287.7
287.0
286.7

7 P

173.9

276.7

188.9

125.8

388.9

287.4

CURRENCY OUTSIDE THE U.S. TREASUBI, FEDERAL RESBRfE BANKS AID VAULTS OF COHHERCIAL BANKS. EXCLUDES THE ESTIHATED
AHOUNT OF VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOHINATBD TRAVELERS CHECKS OF NONBANK ISSUERS. TRAVELERS CHECKS ISSUED fit DEPOSITOR!
INSTITUTIONS ARE INCLUDED IN DEHAND DEPOSITS.
DEHAND DEPOSITS AT COHHERCIAL BANKS AND FOREIGN RELATED INSTITUTIONS OTHER THAN THOSE DUE TO DOflESTIC BANKS, THE U.S. GOVERNRENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEHS IN THE PROCESS OF COLLECTION AND FEDERAL RESERVE FLOAT.
EXCLUDES THE ESTIHATSD AHOUNT OF DBHAHD DEPOSITS HKLD AT COHHERCIAL BANKS BI THRIFT INSTITUTIONS TO SERVICE THEIR OCD
LIABILITIES.
CONSISTS OF NOH AND ATS BALANCES AT ALL DEPOSITORY INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND
DISHAND DEPOSITS AT THRIFT INSTITUTIONS. OTHER CHECKABLE DEPOSITS SEASONALLY ADJUSTED EQUALS THE DIFFERENCE BETWEEN THE
SEASONALLY ADJUSTED SUH OF DSHAND DEPOSITS PLUS OCD AND SEASONALLY ADJUSTED DEHAND DEPOSITS. INCLUDED ARE ALL CEILING
FREE "SUPER MOWS," AUTHORIZED BY THE DEPOSITORY INSTITUTIONS DEREGULATION COHHITTEE TO BE OFFERED BEGINNING JANUARY 5,
1983.
SUH OF OVERNIGHT RPS AND OVERNIGHT EURODOLLARS, HONEY HARKBT FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER),
HHDAS, AND SAVINGS AND SHALL TIHE DEPOSITS, LESS THE CONSOLIDATION ADJUSTHENT THAT REPRESENTS THE ESTIHATED AHOUNT OF
DEHAND DEPOSITS AND VAULT CASH HELD BY THBIFT INSTITUTIONS TO SERVICE THEIR TIHE AND SAVINGS DEPOSITS LIABILITIES.
SOH OF LARGE TIHB DEPOSITS, TERH RPS AND TERH EURODOLLARS OF U.S. RESIDENTS, HONEY HARKBT FUND BALANCES (INSTITUTIONONLY), LESS A CONSOLIDATION ADJUSTHSNT THAT REPRESENTS THE ESTIHATED AHOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BI
INSTITUTION-ONLY HONEY HARKET FUNDS.
SAVINGS DEPOSITS EXCLUDE HHDAS.
SHALL DBNOHINATION TIHE DEPOSITS—INCLUDING RETAIL R P S — ARE THOSE ISSUED IN AHOONTS OF LESS THAN S100,000. ALL
INDIVIDUAL RBTIREHENT ACCOUNTS (IRA) AND KBOUH ACCOUNTS AT COHHERCIAL BANKS AND THRIFTS ARE SUBTRACTED FHOfl SHALL
TIHE DEPOSITS.
LARGE DENOHINATION TIHE DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF $100,000 OR BORE, EXCLUDING THOSE BOOKED AT
INTERNATIONAL BANKING FACILITIES.
LARGE DENOHINATION TIHE DEPOSITS AT COHHERCIAL BANKS LESS THOSE HELD BY HONEY HARKET HOTUAL FUNDS,
DEPOSITORY INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS.




H.6 (506)
Table 4

COMPONENTS OF LIQUID ASSETS AND DEBT
Billions of dollars, seasonally adjusted
Date

savings bonds

Non-M3 components of L
bankers acceptances 3
short-term treasury
securities 1

commercial paper 3

Debt components 4
federal debt
non-federal debt

1985-FEB.
MAR.

74.9
75.3

270.4
274.8

45.0
46.3

164.5
169.0

1399.5
1409.6

4675.6
4722-2

APR.
HAY
JUNE

75.7
76.1
76.3

276.0
277.4
282.6

45.9
44.5
42.8

167.7
168.6
165.7

1423.6
1442.3
1459.6

4770.9
4816.7
4863.9

JULY
AUG.
SEPT.

76.7
77.2
78.0

279.9
278. 1
281.3

42.2
42.2
42.5

171.6
182.9
187.2

1479.9
1497.0
1506.8

4912.6
4964.9
5020.Q

OCT.
MOV.
DEC.

78.5
79.0
79.5

281.4
299.5
306.7

43.9
43.1
41.1

192.5
196.4
209.5

1518.0
1548.5
1586.0

5076- Q
5132.1
5216.0

79.9
80.3

303.9
307.1

41.5
42.1

210.6
208.9

1608.5
1622.5

5297.3
5342.3

1986-JAN.
FEB. P

1/

CONSISTS OF U.S. TREASURY BILLS AMD COUPONS Mll'fl REHAIMING MATURITIES OF LESS THAN 12 MONTHS HELD BX OTHER THAI DEPOSITOR!
INSTITUTIONS* FEDERAL RBSSRfS BASKS, HOMEY MARKET MUTUAL FUHDS AHD FOREIGN ENTITIES.
2/ NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL BSSERfE BANKS, FORElG* OFFICIAL INSTITUTIONS, THE FEDERAL
HOME LOAN BANK SISTEH AND HONEY MARKET HUTUAL FUNDS.
3/ TOTAL COHHERCIAL PAPER LESS COMMERCIAL PAPER HELD BY HONEY HARKET MUTUAL FUNDS.
4/* DEBT DATA ARE ON A HONTHLY AfERAGE BASIS, DERIVED BY AVERAGING END-OF-HONTH LSfELS OF ADJACENT MOUTHS, AND HAVE BEEN
ADJUSTED TO RBHOfE DISCONTINUITIES.




H.6 (508)
Table 5

COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT
Billions of dollars, not seasonally adjusted
Other checkable deposits
Oate

Currency1

Travelers
checks2

Demand
deposits9

at commercial
banks4

at thrift
institutions*

Nontransactions components
total

Overnight
RPs1

in M3 only7

inM2*

Overnight
Eurodollars*

General
purpose and
broker/dealer
money market
funds

i
245.9

109.9

44.4

154.2

1865.9

616.0

50.9

12.4

177.6

1985-HAB-

159.8

5.1

APE.
HAY
JUNE

161.1
163.1
165.1

5.2
5.4
5.9

254.6
251.0
259.4

114.1
110.5
113.8

46.7
46.5
48.4

160.8
157.0
162.2

1861.3
1867.6
1888.0

615. 0
619.9
617.3

45.6
48.5
48.1

12.0
12.8
12.?

176.2
172.2
175.4

JULI
AUG.
SEPT.

166.8
167.7
167.6

6.5
6.6
6.4

261.8
260.4

265.0

115.0
117.0
119.0

49.5
50.3
51.3

164.5
167.3
170.3

1901.4
1908.9
1911.9

609.8
616.4
624.0

48.3
49.4
50.2

12.4
14.2
13.9

175.9
176.8
176.7

OCT.
NO?.
DSC

168.4
170.7
173.1

5.9
5.6
5.5

265.6
269.0
281.3

119.9
122.6
125.8

52.5
53.3
54.4

172.3
176.4
180.1

1921.5
1927.3
1933.7

629.3
635.7
639.7

50.4

51.9
52.5

14.2
13.9
16.7

177.0
176.8
176.5

170.5
170.6
172.3

5.5
5.6
5.9

275.1
262.0
267.1

128.1
126.8
129.3

54.3
54.2
56.0

182.4
181.0
185.3

1943.7
1950.4
1962.9

654.6
662.9
666.7

49.2
51.5
49.9

18.1
15.7
15.9

177.7
180.9
185.9

54.7
56.7
56. 1
55.3
54. 0

182.1
187.4
185.5
183.7
184.7

54.5
51.4
51.3
49.3
45.3

15.8
15.5
16.9
16.1
14.$

182.1
183.9
185.4
186.9
188.7

60.5

195.5

49.$

14.4

189.9

1986-JAM,
FEB.
HAIL. P
•BEK ENDINGS
1986-MAB.

APR.

t

3
10
17
24
31 P

170.2
172.8
172.4
172.0
172.2

263.6
268.6
268.1
263.3
267.6

127.4
130.7
129.3
128.4
128.7

7P

174.5

281.5

135.0

i

i
1/
2/
3/
4/
5/
6/
7/
8/
/

CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS AMD THE VAULTS OP COMMERCIAL BANKS. EXCLUDES THE ESTIMATED
AMOUNT OF fAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
OUTSTANDING AMOUNT OF 0.$. DOLLAR-DENOMINATED TRAVELERS CHECKS OF NONBANK ISSUEBS. TRAVELERS CHECKS ISSUED BY DEPOSITOBI
INSTITUTIONS ABB INCLUDED IN DEMAND DEPOSITS.
DEMAND DEPOSITS AT COBHEBCIAL BANKS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND
OFFICIAL INSTITUTIONS, LESS CASH ITSHS IN THE PROCESS OF COLLECTION AND F.R. FLOAT, LESS THE ESTIMATED AMOUNT OF DEMAND
DEPOSITS HELD AT COflflSRCIAL BANKS BI THRIFT INSTITUTIONS TO SERVICE THEXR OCD LIABILITIES.
CONSISTS OF NO it AND ATS BALANCES AT COMMERCIAL BANKS, U.$. BRANCHES AND AGENCXES OF FOREIGN Bk**S9 AND EDGE ACT
CORPORATIONS.
CONSISTS OF NON AND ATS BALAMCES AT SAVINGS AND LOAN ASSOCIATIONS AND MUTUAL SAVINGS BANKS, CREDIT UNION SHARE
DRAFT BALANCES, AND DEMAND DEPOSITS AT THBIFTS.
SUM OF OVERNIGHT RPS AND EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER), MHDAS AND SAVINGS
AND SMALL TIME DEPOSITS LESS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS AND VAULT CASH HELD Bl THRIFT INSTITUTIONS TO SERVICE
THEIR TIME AND SAVINGS DEPOSIT LIABILITIES.
SUM OF LARGE TIME DEPOSITS, TERM RPS AND EURODOLLARS OF U.S. RESIDENTS, HONEY MARKET FUND BALANCES (INSTITUTION-ONLY), LESS A
CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY INSTITUTION-ONLY
MOMEY MARKET MUTUAL FUNDS.
CONSISTS OF OVfcRNIGUX AND CONTINUING CONTRACT RPS ISSUED BY COMMERCIAL BANKS TO OTHER THAN DEPOSITORY INSTITUTIONS AND
MONEY MARKET MUTUAL FUNDS (GENEBAL PURPOSE AND BROKER/DEALER).
ISSUED BY FOREIGN BRANCHES OF U.S. BANKS HORLDWIDE TO U.S. RESIDENTS OTHER THAN DEPOSITORY INSTITUTIONS AND
MONEY MARKET MUTUAL tltHDS (GENERAL PURPOSE AND 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
total
thrift
commercial
institutions
banks

Savings deposits i

at

at

commercial
banks

thrift
institutions

Small denomination time deposits 2
total

at

at

commercial
banks

thrift
institutions

total

Large denomination time deposits 3

at

at

commercial
banks 4

thrift
institutions

268.9

152.6

421.5
421.9
423.6
420.4

total

1985-BAB.

294.1

166.1

460.2

120.6

169.2

289.8

383.7

498.7

882.4

APR.
BAY
JUNE

295.9
298.4
307.5

166.6
168.0
170.6

462.5
466.4
478.1

121.0
121.8
123.2

169.7
170.4

290.6
292.2
295.4

383.8
385.2
386.5

498.0
498.2
499.9

881.8
883.5
686.3

269.2
268.$
265.5

152.7
155.1
154.9

JOLT
AUG.
SEPT.

313.2
317.9
321.3

174.0
177.3
178.5

487.2
495.2
499.8

124.4
124.0
123.7

174.6
174.9
175.4

298.9
298.9

299.1

386.5
385.3
385.1

500.6
497.1
495.4

887.1
882.5
880.5

263.0
267.5
272.6

153.1
153.9
155.1

416.1
421.4
427.6

OCT.
NOV.
DEC.

324.3
329.2

504.1
509.5
512.0

124.6
124.3
123.5

178.3

332.%

179.8
180.3
179.6

179.0
178.3

302.9
303.3
301.8

384.8
384.2
384.8

496.5
496.4
497.7

881.3
880.7
882.5

276.3
278.2
280.9

156.2
157.0
157.8

432.6
435.3
438.7

336.7
336.9
340.2

179.0
179.4
180.2

515.7
516.4
520.4

123.9
123.6
124.9

178.8
179.0
181.4

302.7
302.7
306.2

386.5
387.0
387.0

502.8
504.9
505.$

689.2
891.9
692.6

288.5
290.3
287.7

159.0
160.6
163.1

447.5
450.9
450.8

1986-JAM.
FEB.
BAB. P
SEEK
1986
BAB.

ENDING

17
24
31 P

338.4
339.7
340.3
340.5
341.1

123.7
124.5
124.8
125.1
125.6

386.9
387.2
387.2
387.0
386.7

288.3
287.4
287.8
287.9
287.5

7 P

345.1

127.2

385.3

285.7

3

10

APR.

1/
2/

3/
4/

172.2

SAVINGS DEPOSITS EXCLUDE BBDAS.
SHALL DENOMINATION TIBE DEPOSITS ~ INCLUDING BKTAIL BPS — ABE THOSE ISSUED IN AHOUMTS OF LESS THAN $100,000. ALL
INDIVIDUAL BETIBEBENT ACCOUNTS (IBA) AND KEOGH ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS ABE SUBTBACTED FBOB SBALL
TINE DEPOSITS.
LARGE DENOMINATION TIME DEPOSITS ABE THOSE ISSUED IN AMOUNTS OF $100,000 OB MORE, EXCLUDING THOSE BOOKED AT INTEBNATIONAL
BANKING FACILITIES (IBFS).
LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS THOSE HELD BY MONEY BABKET BUTUAL FUNDS, DEPOaxTOBY
INSTITUTIONS AND FOHHIGU BANKS AND OFFICIAL INSTITUTIONS.




H.6 (508)
Table 5-continued

COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT
Billions of dollars, not seasonally adjustad
Term R F V

Data

Institution
only monay
market funds

at commercial
banks

at thrift
institution*

total

larm
Eurodollars 1

Saving*
bonds

N o n M 3 C o mponents of L
Short-term
Bankars
traasury
acceptances 4
securities'

Component* of Debt
Commercial
paper*

Federal debt*

Non-Federal 9
debt

59.5

30.7

27.9

58.7

84.7

75.3

280.8

45.3

167.7

1412.0

4691.8

APR.
HA I
JOKE

59.6
63.5
67.1

32.5
31.2
31.4

27.2
26.5
25.7

59.8
57.7
57.1

80.9
81.4
79.2

75.6
76.1
76.5

278.4
272.1
280.2

44.7
43.9
42.3

169.3
168.8
167.9

1427.1
1443.8
1457.9

4738.9
4787.9
4841.2

JULI
AUG.
SEPT.

65.0
63.6
62.3

29.8
30.4
30.9

25.9
26.7
27.6

55.7
57.1
58.5

78.8
80.0
80.2

76.6
77.1
78.0

280.6
281.2
282.1

42.0
42.6
43.2

173.1
181.0
187.8

1475.8
1495.8
1506.9

4893.9
4945.1
5002.5

OCT.
NOV.
DSC

63.3
64.5
64.6

30.2
31.3
31.6

29.4
31.7
34.1

59.5
63.0
65.7

79.4
79.4
77.5

78.5
79.0
79.6

281.1
295.7
304.0

43.8
43.3
42.1

193.4
199.1
204.6

1515.6
1544.2
1583.7

5062.4
5121.1
5211.3

67.3
67.7
70.3

33.1
34.9
35.9

35. 5e
35. 5e
35. 5e

68. 5e
70. 3e
71.4e

77.5
80.0
81.4

80. P
80.5

303.6
308.0

42.2
41.9

207.5
208.6

1606.7
1621.0

5291.6
5322.3

1985-HAB.

1986- JAIL
FSB.
MAR. P
HB8K ENDING;
1986-HAB.

3
10
17
24
31 P

67.8
68.7
70.1
71.8
71.8

34.8
35.4
35.3
34.9
38. a

APB.

7 P

72.0

32.7

1/
2/
3/
4/
5/
6/

TBBH BPS ABS THOSE HXTU ORIGINAL MATURITIES GRSATBB THAU ON* DAY, EXCLUDING CONTINUING COMTBACTS AMD METAIL BPS. INCLUDES
A B£LATIf£LI SHALL AHOUNT OF OVERNIGHT BPS AT THRIFT INSTITUTIONS.
TSBH EURODOLLARS ABB THOSE WITH ORIGINAL flATO£ITI£S GREATER THAN ONE DAT. CONSISTS OF THOSE ISSUED TO U.S. RESIDENTS 81
FOREIGN BRANCHES OF U.S. BANKS 1ORLDHIDE AND BY ALL BANKING OFFICES IN TBS UNITED KINGDOM AND CANADA. EXCLUDES THOSE HELD
BY DSPOSITOBX INSTITUTIONS AND HONEY HABKET HUTUAL FUNDS.
CONSISTS OF U.S. TBSASUBY BILLS AND COUPONS WITH BSHAINING MATURITIES OF LESS THAN 12 HONTHS HELD BI OTHER THAN DEPOSITORY
INSTITUTIONS, FEDERAL RESERVE BANKS, HONEY HARKET HUTUAL FUNDS, AND FOREIGN ENTITIES.
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING *AN*S, FEDEUkL RESERVE BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDEBkL
HOME LOAN BANK SYSTEH AND HONEY MARKET HUTUAL FUNDS.
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BY HONEY HARKET HUTUAL FUNDS.
DEBT DATA ABS ON A MONTHLY AVERAGE BASIS, DUUIV&D BY AVERAGING SND-OF-HONTH LEVELS OF ADJACENT HONTHS, AND HAVE BEEU
ADJUSTED TO BEHOVZ DISCONTINUITIES.




H.6 (508)
Table 6

MEMORANDUM ITEMS
Billions of dollars, not seasonally adjusted
Demand deposits at banks due to

Date

foreign
commercial
banks

foreign
official
institutions

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

7.8

1.9

8.6

3.6

3.8

APR. .
HA I
JO MB

7.7
8.0
8.Q

1.9
2.1

8.4
8.3

6.6
6.7

2.0

a. 3

3.9
3.1
3.4

JULY
AUG.
SEPT.

8-1

1.9
2.0
2.1

8.3
8.2
8.2

3.1
2.8
3.4

4.0
3.0

OCT.
MO¥. .

8.2

1.9
2.1
1.9

8.3

3.0

3. 1

8.4
8.3

3.0
3.4

2.8
3.4

1985-SAO.

DEC.
1986-JAM.
FEB.
HAE.^P

7.9
8«|

8.1
8.5

2.8

4.3

note balances
at commercial
banks
and thrift
institutions

IRA and Keogh Accounts

total demand
deposits and
note and
FR balances

time
and savings
deposits at
commercial
banks

APE.

3
10
17
24
31 P

48.0

66.4

7.9

123.2

11.5

17.8
11.4

22.0
27.6
17.7

1.1
1.2
1.2

53.5
55.1
55. *

70.4
71.9
73.4

8.6
8.6

132.5
135,6
137.7

2Q.0
10.6
13.4

27. Q
16.4
21. 1

1.2
1.3

56.7
57.4
57.8

75.3
76.8
78.1

8.5

140.4
142.6
144.3

79.0
79.5
80.9

8.4
8.4

81.9
82.9
85. %*

8.6

1.3

8.5

I.3
I. 3

11.1

10.7
17.9

1I . 4

58.2
58.7
59.2

34.5
31.7
19.2

I. 3
I.4
I.5

60.7
62.5
64.2

28.f
18.2
15.8
22.4
16.5

1I . 4
1I . 6
1I.4
1I.4

20. Q

1-5

2.4
4.8

2.0
1.9
1.8

8.0
7.8
7.6

3.6
3.3
3.4

3.4

2Q-5
21.0
12.4

8.0

7.7
7.6

20.2
11.3

7.5
7.$

3.0
3.3
4.5
3.1
2.6

4.9
3.7

8.0
8.3

2.0
1.8
1.9
1.8
1.9

2.7

15.7
11.1

7 P

8.7

1.9

7.6

3.3

3.3

13.3

estimated




3.2
3.5

total

1.2

8.8
8.3
8.4

7.5

money
market
mutual funds

16.6

10.$
7.5

9. 1
8.4

thrift
institutions

9.2

HBHI EMDIMG:
1986
HAM,

commercial
banks

8.1

I.5

a. 4
8.4

a.3

8.3

8.9e
9.2e

145.7
146.6
148.4
151.2
15lt.3e
159.2e

SPECIAL SUPPLEMENTARY TABLE
Monthly Survey of Selected Deposits and Other Accounts
At All Insured Commercial Banks and All Mutual Savings Banks 1
February 26, 1986 and March 26, 1986
(not seasonally adjusted)

Liability Categories
NOW accounts2*
Money market deposit accounts^*
Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:*
7 to 31 days
(standard error of the estimate)

Insured Co ercial Banks
Amount Outstanding ($mll)
Average Rate Paid (%)
February 26
March 26
February 26|
March 26
|

I

Number of Issuing Banks
February 26 | March 26

121,515

122,500

5.74

5.65

13,633

338,299

341,005

6.67

6.46

12,838

12,759

j

13,601

5,190
(368)

5,278
(359)

6.84

6.61

8,123

8,075

32 to 91 days
(standard error of the estimate)

21,620
(695)

20,992
(1,076)

7.13

6.78

12,607

12,577

92 to 182 days
(standard error of the estimate)

145,180
(2,206)

142,783
(2,165)

7.47

7.10

13,416

13,423

183 days to 1 year
(standard error of the estimate)

67,706
(1,636)

69,552
(1,624)

7.77

7.39

13,041

12,925

over 1 year to 2-1/2 years
(standard error of the estimate)

83,409
(1,755)

84,808
(1,201)

8.21

7.79

12,928

12,956

2-1/2 years and over
(standard error of the estimate)

119,065
(1,892)

120,536
(1,885)

8.58

8.06

12,894

12,891

All IRA/Keogh Plan deposits5
(standard error of the estimate)

63,119
(555)

64,962
(608)

N.A.

N.A.

13,167

13,061

Retail repurchase agreements^
(standard error of the estimate)

1,182
(230)

1,292
(231)

6.74

6.49

2,874

2,795

I

Liability Categories
NOW accounts2*
Money market deposit accounts^*

j

I

State-Chartered Mutual Savings Banks
Amount Outstanding ($mil)
Average Rate Paid (%)
Number of Issuing Banks
February 26
March 26
February 26
March 26
February 26
March 26
3,810
30,158

j

3,893
30,292

|

5.65

5.58

341

341

6.95

6.77

339

339

Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:*
7 to 31 days
(standard error of the estimate)

221
(38)

198
(27)

6.83

6.55

114

109

32 to 91 days
(standard error of the estimate)

958
(64)

1,253
(208)

7.10

7.49

289

280

92 to 182 days
(standard error of the estimate)

20,551
(482)

20,097
(254)

7.74

7.42

337

334

183 days to 1 year
(standard error of the estimate)

13,003
(238)

12,803
(328)

8.23

7.81

332

328

over 1 year to 2-1/2 years
(standard error of the estimate)

12.584
(106)

12.812
(281)

8.53

8.10

330

327

2-1/2 years and over
(standard error of the estimate)

20,145
(73)

20,476
(133)

9.02

8.52

347

345

All IRA and Keogh Plan deposits5
(standard error of the estimate)

10,704
(218)

10,891
(230)

N.A.

N.A.

343

340

Retail repurchase agreements6
(standard error of the estimate)

78
(51)

70
(50)

6.98

6.90

28

21

N.A. - Data not available.
1. Estimates are based on data collected by the Federal Reserve from a stratified random sample of about 550 banks
and 75 mutual savings banks.
2. As of January 1, 1986 interest rate ceilings were removed from all NOW accounts. Beginning with the January 1986
data the NOW account category includes all NOW accounts, including those accounts which were subiect to a 5.25 percent regulatory interest rate restriction prior to January 1, 1986. Estimates for this category are based on reports
of deposits.
3. Money market deposit accounts (MMDAs)—Deposits with no required minimum maturity but institutions must reserve
the right to require at least seven day's notice prior to withdrawal, no restrictions on depositor eligibility, or
limitations on the amount of interest that may be paid; such accounts may allow up to six transfers per month, no
more than three of which may be draft and may permit unlimited withdrawals by mail, messenger, or in person.
Estimates for this category are based on reports of deposits.
4. All interest-bearing time certificates and open account time deposits with balances of less than $100,000,
including those held in IRAs and Keogh Plan deposits.
5. All IRA/Keogh Plan time deposits regardless of size, type of instrument in which held, or interest rate paid.
6. Retail repurchase agreements are in denominations of less than $100,000 with maturities of less than 90 days
that arise from the transfer of direct obligations of, or obligations fully-guaranteed as to principal and interest
by, the U.S. Government or an agency thereof.
* Revised data for the NOW and MMDA categories for January 1986 are: commercial bank NOW accounts, 119,450;
commercial bank MMDAs. 335,644; mutual savings bank NOW accounts. 3.695: mutual savines bank MMDAs. 30.029.