Full text of H.6 Money Stock Measures : April 17, 1986
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
vojyg^--. 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.