Full text of H.6 Money Stock Measures : February 28, 1991
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FEDERAL RESERVE statistical release These data are scheduled for release each Thursday at 4:30 p.m. *4LR£' H.6 (508) Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES FEBRUARY 28, 1991 Billions of dollars Date M1 J M22 M33 DEBT Seasonally adjusted 1989-FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 785.7 784.7 781.3 776.8 774.3 779.3 779.9 781.8 787.9 788.9 793.6 3075.3 3084.1 3087.8 3089.4 3105..0 3129..4 3147..3 3162.8 3183.0 3203.4 3223.1 3935.7 3955.5 3963.1 3966.8 3982.8 4004 4012 4018 4027 4041 4055 4703.7 4735.5 4756.1 4762.9 4783.4 4807.4 4826.1 4834.5 4851.7 4869.4 4889.9 1990-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 795.4 801.1 804.7 807.7 807.5 811.5 810.7 816.5 821.8 821.2 823.3 825.4 3233..6 3255..0 3269..6 3279..9 3282.8 3290.6 3295..4 3309..4 3321..3 3325..2 3325.8 3330.5 4061..4 4073..1 4077..2 4082..7 4082..7 4085.8 4089.2 4103. 4108. 4111. 4110. 4112. 4895.3 4902.9 4914.6 4920.5 4903.2 4922.8 4928.5 4939.0 4963.6 4966.7 4974.8 4984.8 p 1991-JAN. 826.7 3332.5 4125.4 1989-FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 772.7 775.6 791.2 767.2 773.9 781.9 777.8 778.9 784.5 791.4 811.9 3065. 3080. 3100. 3071. 3099. 3133. 3147. 3158. 3180.8 3206.7 3236. 3924.1 3952.8 3970..1 3950..0 3978..4 4006.8 4016.6 4016.8 4025..2 4048..4 4067..0 4695.2 4732.1 4763.9 4749.5 4777.1 4800.3 4823.7 4833.5 4848.8 4874.9 4907.4 1990-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 802.4 788.3 796.2 818.0 797.3 810.8 812.9 814.5 818.9 817.6 826.1 844.3 3244.5 3245.6 3267.7 3292.8 3262.8 3284..1 3298..6 3310..1 3316..6 3322..5 3329..5 3344..6 4067.8 4061.5 4075.8 4090.8 4064.3 4080.8 4091.4 4108. 4106. 4108. 4117. 4124. 4911.5 4893.9 4912.2 4930.3 4888.6 4914.1 4920.8 4937.1 4962.2 4962.7 4979.8 5004.0 p 1991-JAN. 833.2 3342.8 4131.5 9209.8 9279.9 9342.9 9403.6 9457.9 9506.9 9570.7 9629.1 9689.0 9751.7 9790.4 9831.3 9889.9 9959.1 10015.9 10059.9 10117.8 10183.5 10256.6 10313.6 10356.2 10416.1 10472.1 p Not seasonally adjusted Footnotes appear on the following page, p—indicates preliminary data. 9179. 9237. 9297. 9358. 9414. 9460. 9516. 9578. 9648. 9719. 9775. 9821. 9859. 9916. 9970. 10014. 10074. 10137. 10203. 10263. 10317. 10386. 10459. H.6 ( 5 0 8 ) Table 2 MONEY STOCK AND DEBT MEASURES Percent change at seasonally adjusted annual rates Ml M2 3 Months from OCT. 1990 TO JAN. 1991 2.7 6 Months from JULY 1990 to JAN. 1991 3.9 12 Months from JAN. 1990 TO JAN. 1991 3.9 3.1 M3 Debt* 0.9 1.4 6.1 2.3 1.8 7.0 3.1 1.6 7.0 1.6 1.6 Thirteen weeks ending FEBRUARY 18, 1991 from thirteen weeks ending: NOV. 19, 1990 (13 weeks previous) AUG. 20, 1990 (26 weeks previous) 3.9 2.5 1.8 FEB. 19, 1990 (52 weeks previous) 4.1 3.2 1.6 Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, September 1990 to December 1990, June 1990 to December 1990, and December 1989 to December 1990, respectively. Footnotes to Table 1 Consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions) (2) travelers checks of nonbank issuers) (3) demand deposits at all commercial banks other than those due to depository institutions, the U.S. government, and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float) and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at depository institutions, credit union share draft accounts and demand deposits at thrift institutions. Seasonally adjusted Ml is calculated by summing currency, travelers checks, demand deposits, and OCDs, each seasonally adjusted separately. Consists of Ml plus overnight (and continuing contract) RPs issued by all depository institutions and overnight Eurodollars issued to U.S. residents by foreion branches of U.S. banks worldwide, money market deposit accounts (MMDAs), savings and small-denomination time deposits (time deposits—incuding retail RPs—in amounts of less than $100,000), and balances in both taxable and tax-exempt general purpose and broker/dealer money market mutual funds. Excludes individual retirement account (IRA) and Keogh balances at depository institutions and money market funds. Also excludes a 1,1 balances held by U.S. commercial banks, money market funds (general purpose and broker/dealer), foreign governments and commercial banks, and the U.S. government. Seasonally adjusted M2 is computed by adjusting its non-Mi component as a whole and then adding this result to seasonally adjusted Ml. Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more) and term RP liabilities issued by all depository ins titut ions, 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, money market funds, and foreign banks and official institutions. Also subtracted is the estimated amount of overnight RPs and Eurodollars held by institution-only money market mutual funds. Seasonally adjusted M3 is obtained by adjusting its non-M2 component as a whole and then adding this result to seasonally adjusted M2. Consists of M3 plus the nonbank public holdings of U.S. savings bonds, short-term Treasury securities, commercial paper and 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 U.S. government, state and local pvernments 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 of funds accounts. All data on debt of domestic nonfinancial sectors are presented in month-average form, derived by averaging adjacent month-end levels. These 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 the Federal Reserve releases Z.7 and Z.l. In those releases, published levels of credit market debt are measured on a quarter-end basis and include discontinuities. f H.6 ( 5 0 8 ) Table 3 MONEY STOCK MEASURES Billions of dollars Seasonally adjusted Ml Period ending 13-week average 4-week average 1990-NOV. 26 822.0 823.5 M3 M2 13-week average 4-week average 824.7 3323.8 3325.6 week average week average 13-week average 4-week average 3327.8 4110.1 4110.2 4111.2 week average DEC. 3 10 17 24 31 822.2 822.2 822.6 823.1 823.3 823.2 823.3 823.8 824.6 825.8 822.0 822.8 825.8 827.8 826.8 3324.3 3324.7 3325.4 3326.3 3327.3 3326.0 3326.5 3328.2 3329.1 3331.1 3326.4 3327.6 3331.1 3331.1 3334.5 4109.7 4109.6 4109.9 4110.7 4111.5 4110.5 4110.2 4112.2 4112.4 4113.2 4109.2 4111.5 4116.7 4112.1 4112.3 1991-JAN. 7 14 21 28 823.5 823.6 824.1 824.8 826.4 825.4 825.0 825.8 825.0 822.0 826.0 830.2 3327.1 3327.0 3327.9 3329.2 3330.8 3329.5 3330.3 3331.6 3326.3 3326.2 3334.3 3339.5 4111.3 4111.3 4112.5 4115.1 4113.1 4111.8 4115.8 4123.5 4111.3 4111.3 4128.1 4143.4 4 Up 18p 825.6 826.6 827.8 827.9 831.5 834.7 833.2 836.5 839.0 3330.7 3332.8 3335.5 3336.1 3342.8 3349.2 3344.3 3353.0 3359.8 4118.0 4121.8 4126.3 4132.1 4144.7 4154.4 4145.7 4161.6 4167.0 FEB. Not seasonally adjusted Ml Period ending 1990-NOV. 26 13-week average 4-week average M2 week average 13-week average 4-week average M3 week average 13-week average 4-week average average 820.5 826.6 821.0 3322.5 3329.9 3321.2 4111.0 4118.4 4113.9 DEC. 3 10 17 24 31 821.0 821.6 823.0 826.2 829.3 . 825.3 828.3 831.5 837.7 845.5 823.1 840.2 841.7 845.8 854.1 3323.1 3323.9 3325.8 3329.0 3332.3 3328.8 3331.9 3335.0 3339.4 3345.3 3326.5 3346.3 3345.9 3339.0 3350.0 4110.4 4110.4 4111.3 4114.0 4116.9 4116.5 4117.5 4119.7 4120.7 4125.3 4108.6 4129.4 4126.9 4117.9 4126.8 1991-JAN. 7 14 21 28 832.1 833.3 834.5 834.9 851.5 851.6 846.9 835.5 864.2 842.1 827.2 808.4 3334.6 3336.1 3338.0 3339.1 3350.7 3352.9 3353.1 3345.2 3367.7 3354.8 3339.9 3318.4 4118.2 4119.8 4122.2 4124.2 4127.4 4130.7 4134.8 4132.9 4137.8 4140.2 4134.5 4119.2 4 lip 18p 834.6 834.6 834.3 825.6 822.2 821.5 824.6 828.7 824.3 3339.6 3340.7 3341.8 3337.6 3336.0 3338.2 3337.3 3348.3 3348.7 4125.7 4128.2 4130.9 4132.5 4136.7 4141.4 4136.1 4157.0 4153.2 FEB. Note: Special caution should be taken in interpreting week-to-week changes in money supply data, which are highly volatile and subject to revision. p—indicates preliminary data. H.6 ( 5 0 8 ) Table 4 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Nontransact ions component s Other checkable deposits At At thrift institutions5 General purpose and broker/dealer money market funds Total In M 2 6 In M3 only7 85.7 278.0 2381.0 855.2 296.3 8S.7 86.9 87.6 280.9 282.7 285.2 2395.1 2414.5 2429.5 844.5 837.7 832.1 303.1 309.9 313.6 198.3 199.6 201.3 87.4 87.9 88.6 285.8 287.5 289.8 2438.2 2453.9 2465.0 827.8 818.2 807.6 318.4 324.2 325.9 Date Currency1 Travelers checks Demand deposits3 commercial banks4 1989-SEP. 219.2 7.2 277.4 .192.3 OCT. NOV. DEC. 220.0 220.5 222.2 7.3 7.4 7.4 279.7 278.3 278.7 194.2 195.8 197.6 1990-JAN. FEB. MAR. 224.5 226.6 228.4 7.5 7.6 7.6 277.6 279.4 278.9 APR. MAY JUNE 230. 231. 233. 278.1 275.8 276.3 202, 203. 205. 88. 88. 88. 291. 292. 293, 2472.2 2475.3 2479.1 802.8 799.9 795.2 327.0 325.3 327.5 JULY AUG. SEP. 235. 238. 241. 275, 278. 279. 203. 204. 205. 87. 87. 87. 291. 292. 293. 2484.7 2492.9 2499.5 793.8 793.8 787.0 329.2 335.8 339.2 OCT. NOV. DEC. 243. 245. 246. 277. 277. 276. 205. 207. 208. 85.8 85.8 85.0 291.8 292.8 293.7 2504.0 2502.5 2505.1 785.9 784.6 782.0 341.7 343.0 347.7 272.9 209.2 84.7 293.9 2505.8 792.8 356.3 1991-JAN. 251.6 8.4 Meek ending 1990-DEC. 24 31 246. 247. 278. 275. 209, 210. 84.8 85.1 294. 295. 2503. 2507, 781. 777. 347. 350. 1991-JAN. 7 14 21 28 247. 249. 253, 254. 274.4 271.8 271.5 272.3 209. 208. 208. 210. 84, 84, 84, 84.8 294, 292. 293. 295. 2501, 2504. 2508. 2509. 785.0 785.2 793.8 803.9 350.6 354.9 358.8 359.6 4 lip 18p 254. 254. 254. 273, 278. 279.8 210. 210. 210. 86, 85, 85, 296.9 295.8 296.2 2511. 2516. 2520.8 801, 808. 807. 358.8 359.3 358.4 FEB. 1. 2. Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions. Outstanding amount of U.S. dollai—denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits. 3. Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions* the U.S. government and foreign banks and official institutions> less cash items in the process of collection and Federal Reserve float. 4. Consists of NON and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. 5. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs and savings and small time deposits. This sum is seasonally adjusted as a whole. 7. Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overnight RPs and Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted as a whole. e—indicates estimated data, p—indicates preliminary data. H.6 ( 5 0 8 ) Table 4-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted At At ccommercial thrift banks institutions Date Total Small-denomination time deposits2 Savings deposits 1 Money market deposit accounts At At commercia il . thrift institutions banks Total At At thrift commercial institutions banks Total Large-denomination time deposits 3 At Af commercial thrift banks* institutions Total 1989-SEP. 340.9 132.1 473.0 184.9 215.9 400.8 515.5 620.2 1135.7 397.5 170.6 568.1 OCT. NOV. DEC. 344.2 349.9 353.0 132.6 133.0 133.1 476.9 482.9 486.1 185.4 186.5 187.7 216.2 216.6 216.4 401.6 403.0 404.1 521.1 527.2 531.4 618.0 615.0 614.5 1139.1 1142.2 1145.9 399.6 401.6 401.9 166.5 163.7 161.6 566.2 565.3 563.5 1990-JAN. FEB. MAR. 355.3 358.1 360.9 132.8 133.8 134.8 488.2 491.8 495.7 189.6 191.4 192.1 216.4 217.3 218.2 406.0 408.7 410.2 532.8 536.9 540.7 613.7 609.9 609.3 1146.5 1146.8 1149.9 401.1 400.4 399.2 158.9 154.5 150.1 560.0 554.9 549.3 APR. MAY JUNE 364.4 366.1 369.6 134.9 134.3 132.6 499.3 500.5 502.3 192.3 192.7 194.0 219.1 218.6 217.8 411.5 411.3 411.8 544.4 553.4 563.8 607.8 600.2 590.8 1152.2 1153.5 1154.6 396.8 397.6 397.7 146.9 143.0 140.3 543.7 540.5 538.0 JULY AUG. SEP. 371.8 374.7 376.1 131.6 131.2 131.3 503.4 505.9 507.4 195.2 195.9 196.5 217.5 216.8 215.8 412.7 412.7 412.3 571.6 574.9 579.4 585.2 583.4 580.5 1156.8 1158.3 1159.9 398.7 395.8 390.9 136.4 133.4 131.0 535.0 529.2 521.9 OCT. NOV. DEC. 376.7 377.4 378.4 130.0 129.4 127.6 506.7 506.8 505.9 197.6 198.2 199.4 213.9 212.9 211.4 411.5 411.1 410.8 588.1 589.5 598.0 574.1 573.4 566.9 1162.2 1162.9 1164.9 386.8 387.4 386.0 128.3 125.1 121.0 515.1 512.5 507.0 1991-JAN. 377.6 127.4 505.1 201.4 210.6 412.0 601.4 562.1 1163.5 394.3 117.9 512.2 1990-DEC. 24 31 378.2 377.1 127.3 127.2 505.5 504.2 200.0 199.8 211.0 210.4 411.0 410.3 600.6 599.3 565.1 565.9 1165.7 1165.2 386.4 384.6 120.4 119.7 506.8 504.4 1991-JAN. 7 14 21 28 377.3 377.5 377.4 378.4 127.4 127.4 127.3 127.6 504.6 504.8 504.7 506.0 200.3 201.3 201.9 202.2 210.0 210.6 210.7 211.0 410.3 411.9 412.6 413.2 599.2 601.1 602.4 602.4 565.5 562.9 561.0 560.1 1164.7 1164.0 1163.5 1162.6 387.9 392.1 395.6 399.8 119.4 118.3 117.7 116.8 507.2 510.4 513.3 516.6 4 lip 18p 380.0 382.5 383.5 128.0 128.2 128.3 507.9 510.7 511.8 202.4 202.4 203.2 211.5 212.0 212.2 413.9 414.4 415.4 602.6 603.4 605.6 558.9 558.5 556.8 1161.4 1161.9 1162.4 399.4 400.6 401.9 116.2 115.4 114.6 515.6 516.0 516.5 Meek end ii*»g FEB. 1. 2. Savings deposits exclude MMDAs. Small-denomination time deposits--including retail RPs—are those issued in amounts of less than $100>000. All IRA and Keogh account balances at commercial banks and thrifts are subtracted from small time deposits. 3. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities. 4. Largeydenomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, and foreign banks and official institutions. p—indicates preliminary data. H.6 ( 5 0 8 ) Table ^-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Debt components* Non-M3 Components of L Institutiononly money market funds Date Savings bonds Short-term Treasury securities1 Bankers acceptances2 Commercial paper3 Federal debt Non-Federal debt 1989-SEP. 101.6 115.6 310.1 41.0 349.7 2220.3 7408.8 OCT. NOV. DEC. 100.8 101.5 101.9 116.2 116.8 117.5 317.4 319.6 327.4 40.1 40.3 40.7 350.5 351.6 349.2 2239.5 2261.3 2268.1 7449.5 7490.4 7522.3 1990-JAN. FEB. MAR. 102.5 103.4 105.2 117.9 118.4 119.2 330.7 327.3 336.9 40.3 38.5 37.2 345.0 345.6 344.1 2275.9 2291.6 2316.1 7555.4 7598.3 7643.0 APR. MAY JUNE 106.9 107.6 108.1 119.9 120.7 121.4 329.9 315.4 331.7 36.0 35.4 34.7 351.9 349.1 349.1 2330.7 2345.2 2374.4 7685.2 7714.6 7743.4 JULY AUG. SEP. 109.8 114.0 116.2 122.2 123.0 123.8 336.0 334.7 341.8 33.0 32.3 31.8 348.2 345.9 357.9 2401.7 2438.9 2461.5 7781.9 7817.8 7852.1 UCT. NOV. DEC. 119.6 120.5 125.7 124.5 125.2 126.0 p 340.9 347.3 354.9 p 32.6 34.0 33.4 p 357.6 357.9 358.1 p 2474.3 2507.7 2534.7 p 7881.9 7908.4 7937.3 p 1991-JAN. 130.1 Week ending 1990-DEC. 24 31 127.4 126.4 7 14 21 28 124.4 129.4 131.4 133.4 4 lip 18p 133.6 138.6 141.1 1991-JAN. FEB. 1. Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal Reserve Banks, money market mutual funds, and foreign entities. 2. Net of bankers acceptances helo by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds. 3. Total commercial paper less commercial paper held by money market mutual funds. 4. Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities. p--indicates preliminary data. so 00 vio^ln-P w roM 0(0 H . Z Z O - H . Q . » W O 3 W 0) 0- 3 (0 C HC fl) M -h w 3 ft) 1 ?T (0 3 W HH- 3 ft) 1 T <3 3H- 3 0 O M. 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( 0 (0 w -j a-? "TO (0 -JT3 H--S.C 3 O ft) 3 3 0 (0 0 . ( 0 < 3 O*(0 3 -J -J fl) 0 0) W H- H-M- 0 -J H : 3? 0.(0 •s- 73(0 •a-j W 3 08H- < O M 3 3 H-HH-3" H-T > C H-H- w 3 0"3 0) 3 3 » > ^"•7 HW 0 ft) w H-Q. H-3 Q. (0 O TJ (0 O 3 W ft) w -J 3 " ft) (0 < 0 (0 7TM W (0 NT o z o 3 H-J fl) 3 w (0 fl) 3 0 r*-r4W HO 3 3 w 0 0 3 "O 0 m DO m z o o > H > m o O C !5.0 > Q) "X a) O H- is ft) - i ww# 8-5 S'S 3-D oO (0 — in ino 00 H ' V 9 ft) • H A 0"O H.6 (508) Table 5-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted At Small-denomination time deposits2 Savings deposits 1 Money market deposit accounts At thrift commercia.1 institutions banks A At * thrift commercial institutions banks Large-denomination time deposits3 At At commercial thrift 4 banks institutions Date banks At thrift institutions 1989-SEP. 339.8 132.1 471.9 184.4 215.9 400.3 516.3 619.6 1135.9 399.1 171.8 570.9 OCT. NOV. DEC. 343.3 351.9 356.5 132.8 133.6 133.7 476.0 485.5 490.2 185.9 186.2 186.4 216.7 215.9 214.2 402.6 402.1 400.6 521.7 525.8 529.2 617.8 615.6 613.8 1139.5 1141.4 1143.0 400.9 402.6 400.4 168.8 165.6 162.6 569.7 568.2 562.9 1990-JAN. FEB. MAR. 357.8 359.2 362.8 133.8 134.2 135.5 491.5 493.4 498.3 188.1 189.7 191.9 214.7 215.4 218.0 402.9 405.1 410.0 533.4 537.8 540.6 614.4 610.8 609.2 1147.8 1148.6 1149.7 399.5 399.2 399.1 158.3 154.1 150.0 557.8 553.3 549.1 APR. MAY JUNE 364.6 362.7 367.4 135.0 133.0 131.9 499.6 495.7 499.3 192.9 193.3 195.3 219.8 219.2 219.3 412.7 412.5 414.6 544.4 552.9 563.9 607.8 599.6 590.9 1152.2 1152.4 1154.8 394.6 397.1 397.2 146.0 142.8 140.1 540.6 539.9 537.2 JULY AUG. SEP. 369.1 373.5 375.0 130.6 130.8 130.9 499.8 504.3 505.9 197.2 196.5 196.2 219.7 217.5 215.4 416.9 414.0 411.7 573.2 575.8 579.1 586.8 584.3 580.2 1160.1 1160.2 1159.3 397.3 396.7 392.7 135.9 133.7 131.6 533.2 530.4 524.3 OCT. NOV. DEC. 375.8 379.7 381.6 129.7 130.1 128.7 505.6 509.8 510.3 198.2 197.9 197.7 214.4 212.6 209.6 412.6 410.5 407.3 588.0 588.4 596.0 574.0 572.5 565.0 1162.0 1160.9 1161.0 389.2 389.9 386.0 129.1 125.9 121.0 518.3 515.9 507.1 1991-JAN. 380.5 128.4 508.9 199.9 209.0 408.9 601.8 562.5 1164.3 392.6 117.4 510.0 1990-DEC. 24 31 380.4 379.4 128.1 128.0 508.5 507.3 197.3 197.6 208.2 208.1 405.5 405.7 597.9 597.8 562.6 564.5 1160.5 1162.4 385.7 384.0 120.2 119.5 505.9 503.6 1991-JAN. 7 14 21 28 382.0 382.0 380.0 378.9 129.0 128.9 128.2 127.8 511.0 510.9 508.3 506.7 199.8 200.2 200.1 199.7 209.6 209.5 208.9 208.3 409.4 409.7 409.0 408.1 599.3 601.7 602.9 602.9 565.7 563.4 561.4 560.5 1165.0 1165.1 1164.3 1163.4 386.7 391.6 393.8 397.2 119.0 118.2 117.2 116.0 505.7 509.7 511.0 513.2 4 lip 18p 380.8 384.1 385.1 128.3 128.8 128.9 509.1 512.9 514.0 200.3 201.0 201.6 209.4 210.4 210.5 409.7 411.4 412.0 603.4 604.4 606.3 559.7 559.5 557.5 1163.1 1163.9 1163.8 396.7 399.7 400.8 115.4 115.1 114.3 512.2 514.8 515.0 icommercial Total Total Total Total Neek ending FEB. 1. 2. 3. 4. Savings deposits exclude MMDAs. Small-denomination time deposits — includinq retail RPs—are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial banks and thrifts are subtracted from small time deposits. Large-denomination time deposits are 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 by money market mutual funds, depository institutions, and foreign banks and official institutions, P- -indicates preliminary data. H.6 (508) Table 5-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT B i l l i o n s o f d o l l a r s , not seasonally adjusted Term RPs1 InstitutionAt only money commercial market funds banks Date At thrift institutions Short-term Treasury securities3 Bankers acceptances4 Commercial s paper i Federal debt Non-Federal debt 311.8 41.6 348.0 2202.5 7375.8 321.4 325.5 336.7 40.4 41.0 41.7 345.8 343.3 344.7 2224.5 2252.7 2265.9 7424.0 7466.5 7509.9 118.0 118.5 119.4 338.0 328.8 337.2 40.4 37.5 36.1 347.3 347.6 343.8 2277.5 2295.0 2319.2 7543.6 7564.6 7597.1 65. 67. 64. 120. 120. 121. 328. 310, 321.4 35. 35, 34.9 355. 357. 355. 2331.0 2339.7 2363.0 7639.7 7674.4 7711.2 122.2 122.8 123.5 325.8 330.0 344.3 33. 32. 32. 348. 343. 355. 2386.8 2422.4 2444.5 7750.6 7780.8 7818.8 124. 125. 345. 353. 365. 32.8 34.6 34 3 P 351.8 349.2 353.8 p 2459.3 2498.8 2532.1 p 7858.1 7887.8 7927.1 p Term Eurodollars2 Savings bonds 114.7 110.8 110.1 85.9 80.3 79.3 81.0 115.4 116.0 116.6 117.3 97.5 74.2 68.4 66.7 98, 99. Total 1989-SEP. 99.2 48.7 66.0 OCT. NOV. DEC. 98.7 102.1 102.8 49.6 51.1 47.0 61.2 59.0 51.8 1990-JAN. FEB. MAR. 105.9 107.1 106.8 47.9 51.6 50.1 49.6 48.9 48.3 APR. MAY JUNE 105.9 106.8 106.2 49. 50. 53, 48. 49. 48. JULY AUG. SEP. 108. 113, 113. 53. 55. 51, 47. 46. 46. 100, 102. 98, 65. 68. 69. OCT. NOV. DEC. 117. 121. 127. 50. 52. 47. 44. 43, 42. 95. 95. 90, 71.1 69.3 69.3 134.8 47.2 42.0 89.3 69.0 1990-DEC. 24 31 128.8 128.0 46. 47. 42.8 41.9 88.9 89.3 69, 69. 7 14 21 28 124. 135. 137. 139.8 45. 45, 47, 49, 41.8 42.0 42.5 42.1 86.8 87.5 90.4 91.4 67.0 67.4 69.9 71.2 138, 144, 145. 50. 49. 46. 41.4 41.6 40.9 91.4 90.9 87.0 69.8 71.6 69.9 1991-JAN. Debt components6 Non-M3 Components of L 98.8 100.5 98.4 102. 125.8 p Week ending 1991-JAN. FEB. 4 Up 18p 1. 2. Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs. Term Eurodollars are those with original maturities greater than one day. Consists of those issued to U.S. residents by foreign branches of U.S. banks world-wide and by all banking offices in the United Kingdom and Canada. Excludes those held by depository institutions and money market mutual funds. 3. Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal Reserve Banks, money market mutual funds, and foreign entities. 4. Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds. 5. Total commercial paper less commercial paper held by money market mutual funds. 6. . Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities, p—indicates preliminary data. H.6 ( 5 0 8 ) Table 6 MEMORANDUM ITEMS 10 Billions of dollars> not seasonally adjusted Demand deposits at banks due to Date IRA and Keogh Accounts U.S. government deposits Time and savinas deposits due to Foreign Foreign foreign banks icommercial official and otficial banks institutions institutions Demand deposits at commercial banks Balance at Federal Reserve Note balances at depository institutions Total cash balance Time and savings At deposits At thrift at commercial commercial institutions banks banks At money market funds Total 1989-SEP. 9.2 1.8 3.4 19.4 32.6 266.4 3.4 3.4 3.3 5.9 5.2 4.8 17.4 11.2 14.4 26.5 19.9 24.5 106.0 107.3 108.0 108.7 28.2 1.8 1.6 1.6 1.2 1.3 1.3 1.3 132.2 9.7 9.2 9.5 5.5 3.3 3.5 5.2 7.8 OCT. NOV. DEC. 132.5 132.3 133.3 28.9 29.3 29.9 268.7 269.6 271.8 1990-JAN. FEB. MAR. 9.7 9.0 9.0 1.6 1.6 1.6 3.4 3.4 3.4 4.4 3.5 3.6 6.0 6.2 5.3 18.8 18.5 13.1 29. 28. 22. 1.3 1.3 1.3 110.3 111.9 113.3 133.9 133.9 133.9 31.4 33.0 33.6 275.7 278.9 280.8 APR. MAY JUNE 9.2 9.4 9.1 1.5 1.7 1.5 3.4 3.4 3.3 4.4 5.1 5.0 14.9 21.8 15.4 30, 25, 24.4 115.6 117.7 119.5 134.0 133.8 133.6 34.0 34.2 34.3 283.6 285.8 287.4 .JULY AUG. SEP. 9.0 9.2 9.4 1.5 1.8 1.9 3.3 3.2 3.2 5.4 5.4 6.4 11.9 19.7 25.9 20. 28. 37. 121. 122. 124. 133.5 133.1 132.7 34.4 35.2 36.9 289.0 291.0 294.0 OCT. NOV. DEC. 9.0 8.9 8.8 1.5 1.4 1.4 3.6 3.3 3.2 5.5 5.6 5.2 17.5 15.4 18.1 26.4 24.8 28.2 126.8 128.6 130.3 131.2 e 130.4 e 130.0 e 37.8 e 38.1 e 38.4 e 295.8 e 297.0 e 298.7 e 1991-JAN. 9.2 1.5 3.3 7.8 24.5 37.2 132.3 130.7 e 39.1 e 302.1 e 8.6 8.8 1.6 1.4 3.2 3.3 5. 5. 30.9 27.3 41, 37. 1.7 1.5 . 1.4 1.4 3.3 3.2 3.3 3.3 6. 5. 5. 10. 15.4 12.6 29.8 35.3 27. 22. 41. 50. 1.4 1.5 1.6 3.3 3.3 3.3 14. 8. 12. 35.4 33.8 35.3 55. 45. 52. 4.9 Neek ending 1990-DEC. 24 31 1991-JAN. FEB. 7 14 21 28 10.1 9.1 8.1 9.8 4 lip 18p 8.1 8.4 8.1 -indicates estimated data, -indicates preliminary data. 1.4