Full text of H.6 Money Stock Measures : August 1, 1991
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VJ&SB&L-
FEDERAL RESERVE statistical release
These data are scheduled for release each Thursday at 4:30 p.m.
H.6 (508)
Table 1
MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES
AUGUST
pillions of dollars
Date
Ml 1
M22
M33
L4
1, 1991
DEBT
Seasonally adjusted
1989-JULY
AUG.
SEP.
OCT.
NOV.
DEC.
779.3
779.9
781.8
787.9
788.9
793.6
3129.4
3147.3
3162.8
3183.0
3203.4
3223.1
4004.9
4012.4
4018.0
4027.5
4041.1
4055.2
4807.4
4826.1
4834.5
4851.7
4869.4
4889.9
9506.9
9570.7
9629.1
9689.0
9751.7
9790.4
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
3309.5
3321.5
3324.3
3323.5
3327.6
4061.4
4073.1
4077.2
4082.7
4082.7
4085.8
4089.2
4103.3
4109.0
4109.3
4108.8
4111.7
4895.3
4902.9
4914.6
4920.5
4903.2
4922.8
4926.4
4934.2
4955.5
4955.0
4959.9
4965.7
9833.8
9897.1
9969.5
10026.6
10070.4
10128.4
10188.7
10257.3
10312.4
10349.5
10399.5
10436.1
1991-JAN.
FEB.
MAR.
APR.
MAY
JUNE
826.7
836.4
843.0
842.2
851.7
858.5
3331.0
3354.3
3374.9
3382.8
3394.9
3398.6
4124.6
4160.3
4168.9
4170.4
4171.8
4164.2
4982.1
5008.8
5008.0
4971.4
4946.7 p
10467.8
10525.9
10563.9
10578.0
10627.3 p
1989-JULY
AUG.
SEP.
OCT.
NOV.
DEC.
781.9
777.8
778.9
784.5
791.4
811.9
3133.2
3147.6
3158.1
3180.8
3206.7
3236.6
4006.8
4016.6
4016.8
4025.2
4048.4
4067.0
4800.3
4823.7
4833.5
4848.8
4874.9
4907.4
9460.2
9516.6
9578.3
9648.5
9719.2
9775.9
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
3310.2
3316.8
3321.6
3327.1
3341.6
4067.8
4061.5
4075.8
4090.8
4064.3
4080.8
4091.4
4108.3
4107.2
4106.4
4115.9
4123.8
4911.5
4893.9
4912.2
4930.3
4888.6
4914.1
4918.8
4932.4
4954.0
4950.8
4964.6
4984.3
9822.2
9864.3
9925.6
9980.8
10024.1
10084.6
10145.5
10208.2
10263.1
10310.0
10370.0
10423.3
1991-JAN.
FEB.
MAR.
APR.
MAY
JUNE
833. 2
823.4
835.0
852.9
841.6
857.8
3341.3
3345.0
3374.1
3396.4
3374.3
3391.6
4130.7
4148.4
4168.2
4179.6
4153.0
4158.8
4998.2
4999.4
5006.1
4982.7
4931.7 p
10455.7
10490.8
10518.6
10533.4
10582.4 p
Not seasonally adjusted
Footnotes appear on the following page,
p—indicates preliminary data.
H.6 ( 5 0 8 )
Table 2
MONEY STOCK AND DEBT MEASURES
Percent change a t seasonally adjusted annual rates
Ml
M2
3 Months from MAR. 1991 TO JUNE 1991
7.4
2.8
6 Months from DEC. 1990 TO JUNE 1991
8.0
12 Months from JUNE 1990 to JUNE 1991
5.8
M3
Debt 1
-0.5
3.9
2.6
4.4
3.3
1.9
5.5
Thirteen weeks ending JULY 22, 1991
from thirteen weeks ending:
APR. 22, 1991 (13 weeks previous)
7.1
3.1
-0.2
JAN. 21, 1991 (26 weeks previous)
7.4
4.1
2.5
JULY 23, 1990 (52 weeks previous)
5.5
3.2
1.9
1.
Growth rates for debt are based on periods beginning and ending one mdnth earlier than for the monetary aggregates, namely,
February 1991 to May 1991, November 1990 to May 1991, and May 1990 to May 1991, respectively.
Footnotes to Table 1
1.
2.
3.
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 clue 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 (NOH) and
automatic transfer service (ATS) accounts at depository institutions,, credit union snare 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 foreign branches of U.S. banks worldwide, money market deposit accounts (MMDAs ), savings and
small-denomination time deposits (time deposits—including 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 all 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 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, money market funds,
and foreign banks and official institutions. Also subtracted is the estimated amount ot 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
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 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.
.6 ( 5 0 8 )
able 3
rfONEY STOCK MEASURES
illions of dollars
Seasonally adjus ted
Ml
eriod en<ding
13-week
average
4-week
average
991-APR. 29
840.4
841.8
MAY
6
13
20
27
841.7
842.8
843.9
845.1
JUNE
3
10
17
24
JULY
1
8
15p
22p
M3
M2
week
average
13-week
average
4-week
average
3374.4
4166.1
4171.1
4157.5
3384.2
3386.3
3390.2
3395.9
3391.4
3396.0
3398.8
3397.3
4168.0
4169.0
4169.9
4170.7
4171.2
4168.9
4169.2
4173.4
4169.4
4174.3
4175.4
4174.4
3385.3
3387.8
3390.0
3391.1
3394.9
3396.1
3397.6
3397.4
3387.4
3400.8
3405.0
3396.4
4170.3
4170.3
4170.3
4169.7
4171.0
4170.2
4169.9
4166.5
4159.9
4171.1
4174.3
4160.7
3392.3
3392.7
3392.9
3393.1
3399.6
3397.0
3393.4
3390.6
3396.3
3390.2
3390.7
3385.2
4168.8
4167.4
4165.1
4162.9
4164.1
4159.0
4153.9
4150.2
4150.4
4150.7
4153.6
4146.2
13-week
average
4-week
average
840.0
3370.1
3382.8
843.8
845.7
848.6
851.5
849.9
851.6
852.9
851.7
3373.7
3377.0
3380.3
3383.4
846.1
847.4
849.0
850.1
851.7
852.9
854.8
856.5
850.6
856.5
860.4
858.5
850.9
852.0
853.1
854.5
859.3
859.4
858.8
859.2
861.9
856.9
857.7
860.2
week
average
week
average
Not seasonally adjusted
Ml
4-week
average
3358.6
4164.6
4180.8
4138.8
3378.3
3377.9
3378.2
3363.0
4166.2
4166.4
4166.9
4167.1
4169.7
4157.2
4152.4
4153.6
4156.0
4158.4
4156.3
4143.6
3375.2
3382.2
3388.1
3390.6
3381.8
3405.8
3401.7
3373.0
4166.5
4167.0
4167.0
4165.4
4153.5
4158.6
4163.0
4161.9
4155.6
4179.0
4173.9
4139.1
3392.1
3393.5
3394.1
3396.4
3387.9
3411.2
3404.4
3382.2
4163.5
4161.1
4157.8
4155.4
4158.1
4155.8
4153.7
4154.8
4140.3
4170.0
4165.4
4143.3
4-week
average
830.5
3371.0
3397.3
848.4
844.9
842.7
829.1
3374.1
3376.4
3378.9
3380.7
3387.1
3377.1
3373.3
3374.4
841.7
847.3
852.4
856.0
850.2
867.2
863.1
843.6
3382.2
3384.6
3386.6
3387.0
858.2
861.4
862.5
865.3
858.7
880.2
867.5
854.9
3387.4
3386.8
3385.8
3384.9
13-week
average
4-week
average
991-APR. 29
836.5
853.1
MAY
6
13
20
27
838.4
839.6
841.0
842.2
849.8
844.6
841.6
841.3
JUNE
3
10
17
24
843.6
845.9
848.2
849.6
JULY
1
8
15p
22p
850.8
852.2
852.4
852.4
week
average
week
average
13-week
average
13-week
average
eriod en<ding
M3
M2
week
average
ote: Special caution should be taken in interpreting week-to-week changes in money supply data> which are highly volatile and subject to
evision.
--indicates preliminary data.
-1.6 ( 5 0 8 )
fable 4
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
millions of dollars* seasonally adjusted
Nontransact ions
component s
Other checkable deposits
At
commercial
banks 4
Currency 1
Travelers
checks 2
Demand
deposits 3
1990-FEB.
MAR.
226.6
228.4
7.6
7.6
279.4
278.9
199.6
201.3
APR.
MAY
JUNE
230.3
231.9
233.7
7.7
7.8
7.8
278.1
275.8
276.3
JULY
AUG.
SEP.
235.7
238.4
241.5
7.8
8.0
8.2
OCT.
NOV.
DEC.
243.9
245.0
246.4
1991-JAN.
FEB.
MAR.
APR.
MAY
JUNE
At
thrift
institutions5
General purpose
and broker/dealer
money market funds
Total
In M 2 6
In M3
only 7
87.9
88.6
287.5
289.8
2453.9
2465.0
818.2
807.6
324.2
325.9
202.9
203.6
205.5
88.9
88.3
88.2
291.7
292.0
293.7
2472.2
2475.3
2479.1
802.8
799.9
795.2
327.
325.
327.
275.6
278.0
279.1
203.9
204.4
205.7
87.7
87.7
87.3
291.7
292.1
293.0
2484.7
2493.0
2499.7
793.8
793.9
787.5
329.2
335.8
339.3
8.3
8.4
8.4
277.1
277.2
276.9
205.9
207.1
208.8
85.8
85.7
85.0
291.8
292.8
293.8
2503.1
2500.2
2502.2
785.0
785.3
784.1
341
341,
345
251.6
255.1
256.7
8.4
8.2
8.1
272.9
276.1
277.1
209.2
211.4
214.4
84.7
85.5
86.6
293.9
296.9
301.0
2504.3
2517.9
2531.9
793.6
806.1
794.0
353.
358.
363.
256.6
256.8
257.6
7.9
8.0
7.8
275.7
278.6
280.9
215.2
220.2
223.5
86.7
88.1
88.7
302.0
308.3
312.2
2540.6
2543.1
2540.1
787.6
777.0
765.7
364.
365.
364.
27
257.4
8.0
275.5
221.3
89.5
310.8
2545.5
777.1
365.8
JUNE
3
10
17
24
257.0
256.8
257.3
258.1
276.
281.
283.
279.
221.1
222.5
222.8
224.3
87.7
87.7
88.8
89.3
308.8
310.2
311.7
313.5
2536.8
2544.3
2544.6
2537.9
772.
770.
769.
764.
365.4
364.8
365.0
364.0
JULY
1
8
15p
22p
258.7
257.6
258.1
259.0
280.0
278.8
278.7
278.9
225.
224.
224.
226.
89.8
88.3
88.4
88.5
315,
312
313
314,
2534,
2533,
2533,
2525,
754.1
760.6
762.8
761.0
362.7
361.6
360.9
359.6
Date
Meek ending
1991-MAY
1.
2.
Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-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 NOH 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 demano 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.
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<ro)0) N O M ^
WWW
NO VO NO
^CMS)
vOOO
ro4>m mo^o^
ininin
in in cr
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ro w -P
vi^ocr
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vjinM
h-*>-* ^
viroM
0s ^ 0s
0s 0s 0s
ooo
in4>o
ororo
ooo
rot-»M
omr\>
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vIMCT
vON-P
w WINS
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rororo
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WH«0)
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rororo
o o o
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rororo
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ininin
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no e r a .
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vi-pro
MWW
mmm
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vjrom
M M W
rororo
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M M M
H^os
crvicr
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<r<r<r
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soroo
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rorow
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ww
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voir
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OCT
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vivi(r
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mmm
w**»
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h-*t-H-*
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mm
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( M T N ^00)
mmm
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vOOO
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mo^<r
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(Mn-PWW*>
mmm
M M M OOO
cowm
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M M M
vlCDsO
rororo
4>roro
rot-*
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wmw
roovo
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m m * " -P^^
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w w w
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ch<r<^
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w w w -P-P-P
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sO sO vO
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oa>ch
o w m
mmm
crrow
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mmm
(_j(-i
rororo
wvivj
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mmm
4S*^
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^^4>
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wrorv)
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wo
o
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(T3
0) 3
3 ro >
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0)
7TO
3 -J * •
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o
3
CT3
a) ro >
0
3
3
V)
r«-i-*H-T
r»--J
C M- #-••
r*--K
H.r»-
H -
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a)
a) ro
3 1 <+•
**0
V) H«
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3
CT3
rt--h
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o
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3
D"3
V (0 >
3 -J r+-
3
(0
l
Q.
(0
3
0
3
H-
TJ
0
w
ro
CL
3
(D
V)
H "
<
00
0)
ro
3
0)
<
2
0
3
(0
H I
M"
-»
3
• CO
2
. ^
CO
m
a
o
>
Z
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rn
H
o
c
a
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8.0
5.H
0)
-z
3
0)
ro T l
•2
M-
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m
3 -n -PO
w * * i oo
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C0/"\
H.6 ( 5 0 6 )
Table 4 - c o n t i n u e d
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Debt components 4
Non-M3 Components of L
Institutiononly money
market funds
Date
Savings
bonds
Short-term
Treasury
securities1
Bankers
acceptances2
Commercial
paper 3
Federal
debt
Non-Federal
debt
1990-FEB.
MAR.
103.4
105.2
118.4
119.2
327.3
336.9
38.5
37.2
345.6
344.1
2291.6
2316.1
7605.5
7653.5
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
2330.6
2345.1
2374.2
7696.0
7725.3
7754.2
JULY
AUG.
SEP.
109.8
114.0
116.2
122.2
123.0
123.8
333.9
328.6
331.9
33.0
32.3
31.8
348.2
347.0
359.0
2401.7
2439.6
2461.9
7787.1
7817.8
7850.5
OCT.
NOV.
DEC.
119.6
120.5
125.7
124.5
125.2
126.0
329.9
332.8
333.9
32.6
34.0
34.7
358.8
359.0
359.4
2473.9
2507.3
2534,3
7875.6
7892.2
7901.8
1991-JAN.
FEB.
MAR.
130.1
139.3
142.0
126.7
127.8
128.9
331.7
329.6
325.7
36.0
35.2
32.4
363.2
355.9
352.0
2556.3
2588.6
2599.7
7911.4
7937.4
7964.2
APR.
MAY
JUNE
145,6
146.2
143.3
130.1
131.4 p
302.6
292.0 p
30.7
28.8 p
337.6
322.6 p
2590.8
2613.1 p
7987.1
8014.1 p
Week ending
1991-MAY
27
146.1
JUNE
3
10
17
24
143.9
145.4
144.1
143.0
JULY
1
8
15p
22p
140.0
141.6
143.2
142.1
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 held 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.
H.6 ( 5 0 8 )
Table 5
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Other checkable deposi ts
Currency 1
Date
Travelers
Demand
checks 2 deposits3
At
commercial
banks 4
At
thrift
institutions5
Nontransactions
components
Total
In M 2 6
In M3
only 7
Overnight
RPs 8
Overnight
Eurodollars9
Gerleral purpose
and broker/dealer
monev' market funds
1990-FEB.
MAR.
224.4
227.1
7.2
7.3
271.3
271.6
199.7
202.4
85.8
87.8
285.5
290.1
2457.2
2471.5
816.0
808.1
67.5
67.0
14.9
14.9
327.8
331.6
APR.
MAY
JUNE
229.6
231.8
234.9
7.3
7.5
8.1
280.0
268.9
275.2
209.6
200.9
204.0
91.5
88.2
88.7
301.1
289.1
292.7
2474.8
2465.5
2473.3
798.0
801.5
796.7
64.3
66.7
66.9
15.1
16.5
15.5
330.9
321.7
322.2
JULY
AUG.
SEP.
237.3
239.4
241.0
8.6
8.9
8.8
277.3
276.8
278.2
201.4
201.8
203.9
88.2
87.6
87.1
289.7
289.4
291.1
2485.7
2495.7
2497.8
792.9
798.1
790.4
68.2
67.5
65.0
15.8
15.2
16.4
325.0
334.6
339.2
OCT.
NOV.
DEC.
242.8
245.7
249.6
8.4
8.0
7.8
278.0
280.5
289.9
203.0
206.0
211.5
85.4
85.9
85.5
288.4
291.9
297.0
2504.0
2501.0
2497.3
784.8
788.8
782.2
66.0
60.3
54.6
17.5
17.3
19.4
341.1
343.4
345.5
1991-JAN.
FEB.
MAR.
249.8
252.7
255.6
7.8
7.8
7.8
277.7
268.0
270.1
213.7
211.4
215.7
84.2
83.5
85.9
297.9
294.9
301.6
2508.0
2521.6
2539.1
789.4
803.4
794.1
51.5
51.0
48.6
19.7
19.1
20.5
354.2
362.3
370.0
APR.
MAY
JUNE
256.0
257.4
259.1
7.5
7.8
8.1
277.6
271.5
279.5
222.5
217.1
221.8
89.4
87.9
89.2
311.8
305.0
311.0
2543.5
2532.7
2533.8
783.2
778.7
767.2
49.1
49.6
49.5
20.0
17.6
15.8
368.5
360.5
358.0
27
257.6
7.9
263.1
214.9
85.7
300,.6
2533,.8
780.7
50.4
17.1
361.7
JUNE
3
10
17
24
257.1
260.2
259.1
258.4
7.9
8.0
275,
282,
282,
271.6
219.8
225.3
223.2
218.6
89.4
91.2
89.9
86.8
309,.1
316,.5
313.,1
305,.4
2531..6
2538,.6
2538,.6
2529,.4
773.8
773.2
772.2
766.2
49.8
49.1
50.2
49.1
14.
15.
15,
16,
360.
359.
359.
357.8
JULY
1
8
15p
22p
258.9
263.1
261.1
260.5
283.
289,
284.
276.
220.1
227.0
223.8
221.5
88.2
92.3
90.0
87.8
308,.2
319,.4
313,.8
309,.3
2529,.2
2531,.0
2536,.9
2527,.3
752.3
758.8
760.9
761.1
49.
47,
49.
46,
16.
13,
14,
14,
354.
352.
356.
356.
Heek ending
1991-MAY
1.
2.
8.6 e
Currency outside U.S. Treasury* Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-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 foreiqn 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.
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.
8.
Consists of overnight and continuing contract RPs issued by all depository institutions to other than depository institutions and money market
mutual funds (general purpose and broker/dealer).
9.
Issued by foreign branches of U.S. banks worldwide to U.S. residents other than depository institutions and money market mutual funds
(general purpose and broker/dealer).
e--indicates estimated data.
p--indicates preliminary data.
H.6 (508)
Table 5-continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars> not seasonally adjusted
At
A*
thrift
commercial institutions
banks
Date
Total
Small-denomination time deposits 2
Savings deposits 1
Money ms»rket deposit accounts
At
A*
thrift
commercial institutions
banks
Total
At
At
thrift
commercial
institutions
banks
Total
Large-denomination time deposits 3
At
At
commercial
thrift
banks 4
institutions
Total
1990-FEB.
MAR.
359.2
362.8
134.2
135.5
493.4
498.3
189.7
191.9
215.4
218.0
405.1
410.0
537.8
540.6
610.8
609.2
1148.6
1149.7
399.2
399.1
154.1
150.0
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
580.4
1160.1
1160.2
1159.5
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
410.4
407.3
588.0
588.5
596.1
573.2
571.3
564.1
1161.2
1159.8
1160.2
389.3
389.9
386.1
129.1
125.9
121.1
518.3
515.9
507.1
1991-JAN.
FEB.
MAR.
380.6
384.7
391.1
128.4
128.8
131.0
509.0
513.5
522.1
199.9
201.5
205.8
209.0
210.4
214.7
408.9
411.8
420.5
602.1
606.1
607.4
562.7
557.7
550.1
1164.7
1163.8
1157.5
392.3
399.7
399.4
117.5
114.5
111.5
509.8
514.2
510.9
APR.
MAY
JUNE
394.0
395.8
401.8
133.0
134.9
136.8
526.9
530.7
538.6
209.5
212.0
216.5
219.0
222.3
225.3
428.5
434.2
441.8
604.2
600.9
602.1
546.2
539.2
527.9
1150.4
1140.1
1130.0
395.8
397.9
396.5
108.2
104.4
100.7
504.0
502.3
497.1
396.5
135.5
532.0
212.7
222.7
435.3
599.8
537.5
1137.3
399.5
103.7
503.2
102.
101.
101.
99.
501.
501.
500.
495.
99.
98.
98.
96.
488.
490.
491.
487.
Week ending
1991 -MAY
27
JUNE
3
10
17
24
399.2
403.6
404.0
400.1
135.9
136.9
137.4
136.7
535.
540.
541.
536.
214.
216.
216.
216.
223.3
225.4
225.7
225.1
437.5
441.8
442.4
441.5
601.7
602.7
601.8
601.3
533.
530.
528.
526,
1135.
1132.
1130.
1127.
398.7
399.6
399.3
395.5
JULY
1
8
15p
22p
400.2
404.1
406.3
404.0
136.
138,
138.
138.
536.8
542.0
545.0
542.4
217.
219.
219,
219.
225.
228.
228.
227.
443.5
447.8
448.1
447.4
602.0
602.8
602.5
603.2
525,
524,
521,
517,
1127.9
1127.2
1123.7
1120.8
389.5
391.3
393.1
390.8
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,
-indicates preliminary data.
H.6 (508)
Table 5-continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars> not seasonally adjusted
Term RPs 1
Date
Debt components 6
Non-M3 C<omponents of L
At
InstitutionAt
only money commercial
thrift
market funds
banks
institutions
Total
Term
Eurodollars2
Savings
bonds
Short-term
Treasury
securities3
Bankers
acceptances*
Commercial
paper 5
Federal
debt
Non-Federal
debt
1990-FEB.
MAR.
107.1
106.8
51.6
50.1
48.9
48.3
100.5
98.4
68.4
66.7
118.5
119.4
328.8
337.2
37.5
36.1
347.6
343.8
2295.0
2319.2
7569.3
7606.4
APR.
MAY
JUNE
105.9
106.8
106.2
49.5
50.1
53.4
48.7
49.2
48.9
98.2
99.3
102.2
65.3
67.1
64.4
120.2
120.9
121.6
328.6
310.6
321.4
35.3
35.2
34.9
355.4
357.6
355.4
2331.0
2339.7
2363.0
7649.9
7684.4
7721.5
JULY
AUG.
SEP.
108.3
113.1
113.4
53.5
55.5
51.7
47.0
46.5
46.6
100.5
102.0
98.3
65.1
68.3
70.0
122.2
122.8
123.5
323.7
323.9
334.2
33.1
32.4
32.3
348.2
344.9
356.8
2386.8
2422.3
2444.5
7758.7
7785.8
7818.5
OCT.
NOV.
DEC.
117.1
121.2
127.0
50.7
52.3
47.6
44.9
43.4
42.5
95.6
95.7
90.2
70.2
70.0
71.4
124.2
125.0
125.8
334.4
338.9
343.9
32.8
34.6
35.7
353.0
350.3
355.1
2459.3
2498.8
2532.1
7850.7
7871.2
7891.2
1991-JAN.
FEB.
MAR.
134.8
144.0
143.9
46.6
47.1
46.1
41.6
39.7
37.1
88.2
86.8
83.2
71.9
72.6
71.1
126.8
127.9
129.1
339.1
330.8
325.7
36.1
34.3
31.5
365.5
358.0
351.6
2557.7
2590.7
2602.8
7898.0
7900.1
7915.8
APR.
MAY
JUNE
144.1
145.2
141.0
46.7
46.2
46.0
35.3
34.8
32.5
82.1
81.0
78.4
68.2
65.5
65.5
130.4
131.6 p
301.2
287.6 p
30.1
28.7 p
341.4
330.7 p
2593.0
2609.2 p
7940.4
7973.2 p
Meek ending
1991-MAY
27
147.1
45.8
34.5
80.3
66.0
JUNE
3
10
17
24
143.4
143.4
141.8
140.9
45,
46.
46.
46.
33.
33.
32.8
32.4
78.
79.
79.
78.
66.1
64.2
65.8
66.2
JULY
1
8
15p
22p
136.
137.
139.
141.
44.8
47.1
47.4
47.2
31.
32.
32,
33.
75.9
79.8
79.9
80.2
65.
67.
65.
66.8
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.
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.
Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market
mutual funds.
Total commercial paper less commercial paper held by money market mutual funds.
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.
^ 6 (508)
fable 6
MEMORANDUM ITEMS
10
millions of dollars, not seasonally adjusted
Demand deposits
at banks due to
Date
IRA and Keogh Accounts
U.S. government deposits
Time and savings
deposits due to
Foreign
foreign banks
Foreign
commercial
and official
official
banks
institutions
institutions
Demand
deposits at
commercial
banks
Balance
at
Federal
Reserve
3.5
3.6
6.2
5.3
Note balances
at depository
institutions
Total
cash
balance
Time and
savings
deposits
At
At
at commercial commercial
thrift
banks
banks
institutions
133.9
133.9
33.
33.
278.9
280.8
24.
30.
25.
115.6
117.7
119.5
134.0
133.8
133.6
34.
34.
34.
283.6
285.8
287.4
11.
19.
25.
20.
28.
37,
121.
122.
124.
133.
133.
132.
34,
35,
36.
289.
291.
293.8
17.5
15.4
18.1
26.4
24.8
28.2
126.8
128.6
130.3
132,
131.
130,
37.9
39.2
40.7
296.
299.
301.
7.
11.
6.
24.
35.
23.
37.2
50.8
35.1
132.
133.
135.
130.
130.
130.
41,
42.
42.8 e
303.
306.
308,
4.
5.
6.
15.
16.
18.
25.
25,
29.
137.
138.
140.
129.
129.
127.
43.
44.
44.
310.8
312.1
312.4
4.9
10.7
18.7
1.3
1.4
1.4
1.3
18.
5.
7.
31,
28.4
14.8
19.7
43.0
1.5
1.4
1.3
1.4
31.5
16.8
13.8
15.7
44.
28.
23.
25.
9.0
9.0
1.6
1.6
APR.
MAY
JUNE
9.2
9.4
9.1
JULY
AUG.
SEP.
3.4
3.4
18.
13.
28.2
22.0
1.5
1.7
1.5
14.9
21.8
15.4
9.0
9.2
9.4
1.5
1.8
1.9
OCT.
NOV.
DEC.
9.0
8.9
8.8
1.5
1.4
1.4
L991-JAN.
FEB.
MAR.
9.2
8.2
8.1
1.5
1.5
1.4
APR.
MAY
JUNE
8.6
8.3
7.7
1.4
1.4
1.4
27
8.3
1.4
JUNE
3
10
17
24
8.5
7.6
7.6
7.6
JULY
1
8
15p
22p
7.8
8.6
8.3
7.9
1.3
1.3
*eek ending
e--indicates estimated data.
p--indicates preliminary data.
Total
111.9
113.3
L990-FEB.
MAR.
L991-MAY
At
money
market
funds
3.3
3.1
1.5
@FedFRASER