Full text of H.6 Money Stock Measures : April 21, 1994
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FEDERAL RESERVE statistical release H.6 (508) Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES I For release at 4:30 p.m. Eastern Time Billions of dollars Date A P R I L 21, 1994 M1 - M22 M33 L4 DEBT5 Seasonally adjusted 1992-APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 9 4 3 . .7 9 5 2 . .7 9 5 4 . .7 9 6 4 . .2 976..1 9 8 9 . .2 1 0 0 4 . .2 1 0 1 6 . .6 1 0 2 4 . .8 3 4 8 1 . .9 3 4 8 2 .. 1 3 4 7 7 . .8 3 4 8 0 . .7 3 4 8 9 ..4 3 4 9 6 . .6 3 5 0 7 ..5 3 5 1 0 ..5 3 5 0 9 . .0 4 1 9 0 . .7 4 1 8 9 . .9 4 1 8 3 . .7 4186..0 4 1 9 6 . .7 4 2 0 0 ..4 4 1 9 6 . .9 4194..1 4 1 8 3 ..0 5 0 2 5 ..4 5 0 2 1 , .7 5 0 2 6 , .9 5 0 2 6 ,.6 5041..0 5 0 5 6 . .7 5 0 5 8 ..5 5 0 6 5 ..3 5 0 5 7 .. 1 11335 .8 1 1 3 8 1 , .9 11435 .0 11494 .3 11553 .6 11598 .1 11626 .0 1 1 6 6 5 .9 11721 .5 1993-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 1 0 3 3 ..0 1 0 3 5 ..4 1 0 4 0 . .2 1047 . 1 1 0 6 7 . .7 1 0 7 6 . .6 1086..8 1095..3 1105..1 1113..4 1122..4 1128..4 3 5 0 2 . .8 3 4 9 4 . .2 3 4 9 4 . .8 3 4 9 8 ,.0 3 5 2 1 , .9 3 5 2 8 , .7 3 5 3 3 ,.6 3 5 3 5 . .7 3 5 4 3 ..6 3 5 4 5 .. 1 3 5 5 6 . .2 3 5 6 3 ,. 1 4 1 6 2 .. 4 4 1 5 6 ..0 4154..6 4162..0 4187..6 4187..8 4186..8 4186,.5 4195..2 4 2 0 0 ..6 4 2 1 2 . .9 4 2 2 4 . .9 5 0 4 0 ..0 5 0 3 5 ,.5 5036 .4 5 0 5 3 , .8 5 0 8 6 ,.8 5087 .3 5 0 8 3 , .7 5 0 9 2 ,.5 5 0 8 5 ,.5 5 0 9 3 . .2 5 1 0 4 . .8 5 1 2 3 ,.7 1 1 7 5 8 , .5 1 1 7 8 2 , .3 1 1 8 2 2 , .2 1 1 8 6 9 , .0 1 1 9 1 4 , .9 1 1 9 7 9 , .7 1 2 0 3 7 .7 1 2 0 9 2 , .8 1 2 1 4 5 .7 1 2 1 8 1 , .7 1 2 2 4 4 .6 1 2 3 2 1 .5 1994-JAN. FEB. MAR. p 1133..5 1138..5 1142,.5 3 5 6 9 ,. 4 3 5 6 5 .9 3 5 8 1 .9 4 2 2 8 ..4 4 2 0 0 ..4 4209 . 2 5 1 4 0 . .8 5 1 3 0 . .9 p 1 2 3 7 3 , .7 1 2 4 2 2 , .9 p Not seasonally adjusted 1992-APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 954.7 943.9 952.0 962.9 971.0 983.6 1001.8 1022.4 1046.7 3498.9 3467.4 3473.4 3478.1 3484.1 3486.7 3504.6 3517.4 3527.6 4205.2 4180.2 4179.8 4180.3 4195.5 4190.0 4190.5 4203.6 4198.2 5035.2 5001.1 5016.7 5012.9 5032.9 5045.2 5050.3 5083.6 5087.6 11307.1 11348.7 11400.0 11452.0 11512.6 11564.9 11599.4 11658.2 11723.3 1993- JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 1041.0 1023.0 1031 1058 1058 1073 1084 1088.8 1099.1 1111.8 1129.6 1153.8 3508.3 3484.2 3495.8 3515.2 3507.3 3524.4 3529.8 3528.6 3533.2 3543.1 3564.9 3585.7 4162.9 4149.4 4157.3 4177.2 4178.6 4184.1 4179.9 4183.2 4184.4 4195.1 4224.5 4244.3 5053.6 5030.2 5042.5 5063.3 5064.8 5076.8 5069.0 5082.3 5073.4 5085.7 5125.9 5158.5 11745.0 11757.3 11798.6 11841.7 11883.9 11946.2 11997.8 12053.9 12112.2 12151.7 12231.4 12321.5 1994-JAN. 1142.8 1124.7 1132.0 3576.1 3553.8 3580.3 4229.3 4191.2 4209.1 5155.1 5122.5 p 12359.4 12396.7 p MAR. p Footnotes a p p e a r on the following p a g e p preliminary Page 2 H.6 (508) Table 2 MONEY STOCK AND DEBT MEASURES Percent change at seasonally adjusted annual rates M2 M3 DEBT1 3 M o n t h s f r o m DEC. 19 9 3 TO MAR. 19 9 4 5 ..0 2 .1 - 1 . .5 5, . 8 6 M o n t h s f r o m SEP. 1 9 9 3 TO MAR. 1 9 9 4 6. .8 2 .2 0, .7 5, . 5 12 M o n t h s f r o m MAR. 1 9 9 3 TO MAR. 1 9 9 4 9 ..8 2 .5 1, .3 5. .4 5. .9 2 .1 - 0 , .4 T h i r t e e n w e e k s e n d i n g APRIL 1 1 , 1 9 9 4 from t h i r t e e n weeks ending: JAN. 1 0 , 1 9 9 4 ( 1 3 w e e k s p r e v i o u s ) 1, M1 OCT. 1 1 , 1993 (26 weeks p r e v i o u s ) 7 ..5 2 ,. 1 1. .0 APR. 1993 (52 weeks p r e v i o u s ) 9 ..8 2 ,.3 1. .3 12, Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, November 1993 to February 1994, August 1993 to February 1994, and February 1993 to February 1994, respectively. Footnotes to Table 1: 1. 2. 3. 4. 5. 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 M1 is calculated by summing currency, travelers checks, demand deposits, and OCDs, each seasonally adjusted separately. Consists of M1 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, savings deposits (including money market deposit accounts), 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-M1 component as a whole and then adding this result to seasonally adjusted M1. 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 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 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.1. In those releases, published levels of credit market debt are measured on a quarter-end basis and include discontinuities. Page 3 H.6 (508) Table 3 MONEY STOCK MEASURES Billions of dollars Seasonally adjusted M1 Period ending M2 M3 13-week average 4-week average week average 13-week average 4-week average week average 13-week average 4-week average week average 1994-JAN. 17 24 31 1125.3 1126.S 1128.2 1131.1 1132.4 1134.0 1133.2 1136.2 1136.0 3559.5 3561.7 3563.2 3567.4 3569.6 3569.8 3574.0 3571.9 3566.5 4219.0 4220.9 4222.4 4230.2 4230.4 4228.4 4234.6 4227.9 4221.8 FEB. 7 14 21 28 1129.4 1130.7 1132.0 1133.2 1135.2 1136.7 1137.4 1138.5 1135.5 1139.0 1139.1 1140.5 3564.0 3564.9 3565.4 3566.1 3569.5 3568.5 3565.8 3565.9 3565.7 3570.0 3561.1 3566.7 4222.4 4221.7 4220.2 4218.5 4223.5 4216.2 4207.3 4200.5 4209.7 4205.5 4192.3 4194.4 MAR. 7 14 21 28 1134.3 1135.5 1136.6 1137.8 1139.8 1140.4 1141.5 1143.0 1140.4 1141.6 1143.3 1146.8 3567.3 3568.8 3570.5 3572.3 3568.4 3571.7 3577.8 3582.8 3575.8 3583.1 3585.7 3586.5 4217.2 4216.1 4215.4 4214.3 4198.1 4199.6 4205.5 4210.0 4200.2 4211.6 4215.9 4212.4 APR. 4p HP 1139.2 1140.2 1145.0 1145.4 1148.1 1143.5 3573.7 3576.1 3585.0 3588.5 3584.7 3597.2 4212.9 4212.2 4213 . 4215. 4212.2 4219.8 Not seasonally adjusted 1994-JAN. 17 24 31 1140.3 1142.4 1142.2 1162.4 1154.5 1138.6 1150.6 1123.2 1110.4 3573.4 3576.0 3575.8 3592.1 3588.4 3572.6 3591.5 3555.3 3535.3 4231.0 4232.9 4232.9 4245.9 4239.5 4227.0 4250.3 4207.6 4191.5 FEB. 7 14 21 28 1142.3 1141.5 1141.5 1140.9 1129.5 1123.7 1123.1 1124.7 1133.6 1127.7 1120.7 1116.7 3575.2 3573.7 3572.9 3572.5 3561.3 3553.6 3551.3 3553.8 3563.2 3560.4 3546.1 3545.3 4231.3 4228.6 4225.7 4222.7 4213.9 4201.6 4194.3 4191.2 4206.1 4201.1 4178.6 4179.0 MAR. 7 14 21 28 1140.3 1139.4 1137.6 1134.8 1126.8 1129.0 1130.8 1131.4 1141.9 1136.6 1128.1 1119.1 3571.9 3571.6 3571.3 3571.0 3559.1 3566.6 3574.7 3579.8 3584.4 3590.4 3578.7 3565.6 4219.8 4217.0 4214.7 4211.7 4192.0 4197.7 4205.8 4209.4 4209.3 4223.8 4211.2 4193.3 APR. 4p HP 1133.7 1133.4 1135.7 1143.1 1158.8 1166.2 3571.6 3573.9 3585.4 3597.3 3607.0 3637.9 4210.7 4210.8 4214.1 4223.3 4228.2 4260.4 N o t e : S p e c i a l c a u t i o n s h o u l d b e t a k e n in i n t e r p r e t i n g w e e k - t o - w e e k c h a n g e s in m o n e y s u p p l y d a t a , w h i c h a r e h i g h l y v o l a t i l e a n d s u b j e c t to r e v i s i o n , p preliminary data. Page 4 H.6 (508) Table 4 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Nontransactions components Other checkable deposits 1 Currency Date 2 Travelers checks 3 Demand deposits At commercial banks4 At thrift institutions5 Total In M26 In M3 only7 1992-NOV. DEC. 289.5 292.2 8.1 8.1 337.5 339 .6 278.2 280.8 103.2 104.1 381.4 384.9 2493.9 2484.3 683.5 674.0 1993-JAN. FEB. MAR. 294.5 297.0 299 .3 8.0 8.0 8.0 341.9 342.7 344.3 283.5 283.8 284.9 105.0 103.9 103.6 388.6 387.7 388.5 2469.8 2458.8 2454.6 659 .6 APR. MAY JUNE 301.8 304.4 307.2 8.1 8.1 8.0 349 .0 358.8 362.2 284.2 290.3 292.4 104.1 106.1 106.8 388.2 396.4 399 .2 2450.9 2454.1 2452.1 664.0 665.8 659 . 1 JULY AUG. SEP. 309 .7 312 .4 315.4 7.9 7.8 7.8 366.4 370.9 375.4 294.8 295.9 297.8 108.0 108.3 108.8 402.8 404.2 406.6 2446.8 2440.4 2438.5 653.3 650.8 651.6 OCT. NOV. DEC. 317.6 319.5 321.4 299 . 1 300.8 302.6 110.4 7.9 378.4 383.2 384.8 111.7 409 . 5 411.8 414.3 2431.7 2433.8 2434.7 655.5 656.7 661.8 S » Ei B! E: IS 5s B: 328.5 329.4 330.6 7.9 7.9 7.9 392. 0 3 9 0 . ,3 3 9 1 . .0 298. 4 3 0 0 ., 1 3 0 0 . .0 1 1 2 . ,2 1 1 1 . .4 111..1 4 1 0 . .5 4 1 1 . .5 4 1 1 . .0 2 4 3 0 . .9 2 4 2 2 ..0 2 4 2 6 ..1 6 3 5 . .6 6 3 1 . .2 6 2 7 . .7 3 8 8 . .5 3 9 0 . .3 391..1 3 9 1 , .6 3 0 0 . .3 2 9 9 . .6 3 0 0 ,.0 3 0 0 , .9 112..4 112,.0 111,.8 112 .2 4 1 2 . .7 411,.6 411,.8 413 .1 2435,.4 2441,.5 2442 .4 2439 .7 624,.5 628 .5 630 .2 625 .9 393 .8 391 .1 3 0 1 .9 298 .8 110 .5 111 .5 412 .4 410 .3 2436 .6 2453 .8 627 .5 622 .5 . Week e n d i n g 1 9 9 4 - F E B . 14 21 28 MAR. APR. 331.2 331.7 332.3 334.0 7 14 21 28 333 .7 334.0 4p Hp 8.1 8.1 111.0 661.8 659 . 8 rgsT™— 4 S I S S T n d aTs I ir^M£d%but« of l o r y banks, and Edge Ac. corporation, 7 S™m ofTar^e de^osits^term S R^ lTs°'residents, m o n e y market fund b a l a n c e s (institution-only), l e s s the estimated amount of overnight R P s and Eurodollars held by institution-only money market mutual funds. This s u m is seasonally adjusted a s a whole. Page 5 H.6 (508) Table 4 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Small-denomination time deposits2 Savings deposits1 At thrift institutions At commercial banks At thrift institutions 1992-NOV. DEC. 751.1 754.6 427.8 429.0 1178.9 1183.6 513.4 508.7 368.8 361.8 882.2 870.5 353.7 352.0 208.5 201.5 296.1 292 .8 68.5 67.5 364.6 360.3 1993-JAN. FEB. MAR. 754.1 757.2 757.2 429.8 426.5 425.3 1 1 8 3 .,8 1 1 8 3 . .7 1 1 8 2 . .4 504. 2 5 0 4 . .8 5 0 1 . .7 356. 7 3 4 9 . ,0 3 4 5 . ,1 860. 8 853. 8 8 4 6 . ,8 350. 3 345. 3 345. 9 196. 6 1 9 8 . ,0 197 ..7 285. 7 2 8 4 . ,1 279 ..8 67 .,5 66 .,0 65 .. 1 353. 2 350 . 1 344. 8 APR. MAY JUNE 759.5 766.7 771.0 426.0 428.4 429.4 1 1 8 5 ..5 1195..1 1 2 0 0 , .4 4 9 6 . .6 4 9 1 . .9 4 8 7 . .5 3 4 2 . .8 3 4 0 . .5 3 3 6 . .3 8 3 9 . .4 8 3 2 ..4 8 2 3 . .9 3 4 5 . .9 3 4 8 . .5 3 4 7 . .5 1 9 6 . .3 1 9 8 , .0 1 9 4 , .7 2 8 3 ..6 2 8 3 ..6 2 8 0 , .9 65 ..3 6 4 , .7 6 4 , .4 3 4 8 . .8 3 4 8 . ,2 3 4 5 . .3 JULY AUG. SEP. 771.7 775.4 778.0 430.4 430.5 430.4 1 2 0 2 ,. 1 1 2 0 5 .9 1208 .4 483 .0 478 .6 475 .4 3 3 1 . .4 3 2 7 . .6 324,.0 814,.4 8 0 6 .2 799 .4 3 4 6 , .6 3 4 5 .5 345 .0 1 9 2 .6 190 . 1 190 .8 277 .4 277 .8 276 .6 64 . 5 63 .9 63 . 8 3 4 1 , .8 341,. 6 340 .4 OCT. NOV. DEC. 778.4 782.4 785.3 430.4 429 . 5 430.2 1208 .8 1 2 1 1 .9 1215 .5 472 .4 469 .5 468 .5 3 2 1 .0 318 .5 314 .3 793 .5 788 .0 782 .8 344 .4 347 .0 348 .8 194 .3 194 .8 197 . 0 277 .9 2 7 5 .9 277 .0 63 . 7 63 . 5 61 .8 341 .6 339 .4 338 .9 = S =:• E £ 5 £: Ei £! B:i SI 7 9 3 ..2 7 9 0 . .3 7 8 9 , .9 429 .,4 4 3 0 . .2 4 3 0 . ,7 1 2 2 2 . ,6 1 2 2 0 . .5 1 2 2 0 . .7 464.0 463.8 463.4 308,7 308.1 307.7 772.7 771.9 771.1 3 4 4 . .2 3 4 2 . .7 344..1 1 7 5 . ,2 1 7 5 . .4 1 7 2 . .0 274. 5 2 7 3 . ,0 2 7 2 . .4 6 1 . ,7 6 1 . .4 6 1 . .4 3 3 6 . .3 334.. 4 3 3 3 ..8 28 791 792 790 788 .3 .9 .2 .7 4 3 1 . .2 4 3 1 . .6 4 3 2 ..3 4 3 2 , .5 1 2 2 2 . .4 1 2 2 4 , .4 1222,.5 1221,.3 463.0 462.7 462.7 462.2 307.4 307.2 307.1 306.7 770.4 769.9 769 .8 768.9 3 4 6 . .3 3 4 9 . .2 3 4 9 , .7 348 .3 1 7 6 . .4 1 7 4 , .9 1 8 0 .9 175 .8 2 7 1 . .9 2 7 1 . .8 2 7 2 , .9 271,.4 61,.1 6 0 , .8 6 0 , .9 60 . 8 3 3 3 ..0 3 3 2 ,.7 333 .8 332 .2 4p HP 790 .2 789 .7 433,.0 432,.0 1223 .2 1221 .6 461.3 461.5 306.5 306.7 767.8 768.1 351 .1 360 .2 181 .8 175 .0 264 .2 267 .8 61 .2 61 .3 325 .4 329 . 1 Week e n d i n g 1 9 9 4 - F E B . 14 21 28 MAR. 7 14 21 APR. p At commercial banks4 Total MAR. p 3. 4. Large-denomination time deposits3 At thrift institutions ™~: 1. Institutiononly money market funds commercial banks Date 2. General purpose and broker/dealer money market funds Total Total I m T l - d e n o m n a t i o M i m e % 3 t ^ i n c l u % r e t a i l ^ P s - a r e t h o s e i s s u e d in a m o u n t s of l e s s than $ 1 0 0 , 0 0 0 . All IRA and K e o g h a c c o u n t b a l a n c e s at commercial b a n k s and a n d 5 **•!+! 1*5 Ano institutions, preliminary * o r e ' 9 n b a n k s a n d official Page 6 H.6 (508) Table 4 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Debt components4 Non-M3 Components of L Date Savings bonds Short-term Treasury securities1 Bankers acceptances2 Commercial paper3 Federal debt Non-Federal debt 1992-NOV. DEC. 154.6 156.6 326.6 332.5 20.3 20.6 369.7 364.3 3033.4 3068.4 8632.6 8653.1 1993-JAN. FEB. MAR. 158.7 160.8 162.4 337.3 339 .3 338.4 20.6 20.0 19.4 361.0 359.4 361.5 3078.7 3090.8 3121.1 8679.8 8691.5 8701.1 APR. MAY JUNE 163.6 164.7 165.9 341.8 343.4 344.3 19.3 19.2 18.5 367.1 371.8 370.9 3149.0 3175.8 3208.1 8720.0 8739.1 8771.6 JULY AUG. SEP. 167.1 168.2 169.2 341.9 341.7 326.3 17.4 16.5 16.4 370.4 379.5 378.4 3227.8 3252.2 3271.3 8809.9 8840.7 8874.4 OCT. NOV. DEC. 170.1 170.8 171.7 321.5 320.9 324.0 16.4 16.1 16.3 384.7 384.1 386.8 3266.4 3291.4 3327.9 8915.3 8953.1 8993.6 172.7 173.4 331.5 332 .0 16.6 391.6 408.0 3335.6 3349.3 9038.2 9073.6 1994-JAN. FEB. p 17.0 2. 3. 4. Consists of U.S. Treasury bills and c o u p o n s with remaining maturities of l e s s than 12 months held by other than depository institutions, Federal Reserve Banks, m o n e y market mutual funds, and foreign entities. Net of bankers a c c e p t a n c e s held by accepting banks, Federal R e s e r v e 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 a v e r a g e basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities. p preliminary 1. Page 7 H.6 (508) Table 5 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Currency1 Date 2. 3. 4. 5. 6. 7. 8. Travelers checks2 Demand deposits3 Other checkable deposits Nontransactions components At commercial banks4 At thrift institutions5 Total In M26 Overnight RPs8 In M3 only7 Overnight Eurodollars9 1992-NOV. DEC. 290 .0 295.0 7.9 7.8 343 .9 355.1 277.0 284.3 103.6 104.6 380.6 388.9 2494.9 2480.9 686.2 670.5 60.0 59 . 3 20.9 21.3 1993-JAN. FEB. MAR. 293 .5 295.3 297 .9 7.8 7.7 7.8 345.9 334.3 336.5 289 .4 284.2 286.5 104.4 101.5 103.0 393.8 385.7 389 . 5 2467.3 2461.2 2464.1 654.6 665.2 661.5 60.0 60.7 62 . 7 17.8 17.0 16.1 APR. MAY JUNE 301.3 304 .4 307.4 7.8 7.9 8.2 350.5 352.0 359.6 291.9 287 .6 290.6 107.3 106.2 107.5 399.2 393 .8 398.0 2456.4 2449.2 2451.2 662 . 1 671.2 659 .7 62.5 61.7 64.8 14.7 13 . 5 13.7 JULY AUG. SEP. 311.0 312.8 314.8 8.4 8.4 8.2 365.9 367.9 373 . 1 290.9 292 . 1 295.0 108.5 107.7 108.0 399 .3 399.7 403 .0 2445.2 2439.8 2434.1 650.1 654.6 651.2 67 . 7 67.4 70.4 13 . 5 14.7 14.9 OCT. NOV. DEC. 317.3 319 .8 324.9 8.0 7.7 7.6 381.1 391.1 402 .6 295.6 299 .6 306.3 109 .8 111.4 112.4 405.3 410.9 418.6 2431.3 2435.3 2432.0 652 .0 659 .6 658.6 70.8 71.7 72.6 17.2 17.4 17 . 8 1994-JAN. FEB. MAR. p 324.0 327.3 330.7 7.7 7.7 7.8 393 .2 380.7 380.7 306.8 299 .7 301.7 111.1 109.3 111.1 417.9 409 .0 412 .8 2433.3 2429.1 2448.3 653.2 637 .4 628 .8 75.7 75.1 79.2 17.9 16.6 18.2 Week endincr 1 9 9 4 - F E B . 14 21 28 327 .4 328.0 326.6 7.7 7.7 7.7 383 .6 378.6 377 .5 299.4 298.5 297 .6 109 .6 107.9 107.4 409 .0 406.4 405.0 2432.7 2425.4 2428.7 640.7 632 .5 633.7 75.5 73.8 75.4 15.6 15.5 18.7 383 .6 384.0 378.5 374.1 306.4 302 .6 300.7 297 .9 113.7 111.6 110.4 108.5 420 .2 414.2 411.1 406.4 2442.4 2453.8 2450.5 2446.4 624.9 633.5 632.5 627.7 78.8 81.6 80.1 79.0 17 . 6 17.9 18.7 18.9 395.9 395.9 306.3 310.5 115.0 116.6 421.2 427.1 2448.1 2471.7 621.3 622 .6 72.7 82 . 5 17.7 16.7 MAR. 7 14 21 28 330.5 330.6 330.8 330.8 7.7 7.7 7.8 7.8 APR. 4p HP 333.9 335.4 7.8 7.8 e Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions. i n S £ n ^ Consists of NOW and ATS balances at commercial banks, U.S. branches and a g e n c i e s of foreign banks, and Edge Act corporations Consists of NOW and ATS b a l a n c e s at thrifts, credit union share draft balances, and d e m a n d deposits at thrifts I S 9. estimated S S p preliminary S Page 8 H.6 (508) Table 5 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted At thrift institutions 368.3 361.2 Total 1181.1 1181.1 At . commercial banks 512.7 507.8 General purpose and broker/dealer money market funds 881.1 869 . 0 351.9 350.2 207.4 200.4 At commercial banks 4 296.4 291.7 427. 5 424. 7 426. 0 1177. 7 1178. 7 1184. 5 504.4 504.7 501.3 356.8 349.0 344.8 861.3 853.6 846.1 350.6 351.2 354.8 200.5 208.4 201.1 282.8 282.5 279 .7 66.8 65.7 65.0 349.6 348.2 344.8 7 6 1 . .9 7 6 7 . .2 7 7 3 . .6 427. 4 4 2 8 . ,6 4 3 0 . .9 1 1 8 9 , .3 1 1 9 5 . .8 1 2 0 4 . .5 496.1 490.7 487.1 342.4 339.7 336.0 838.5 830.5 823.0 351.4 347.7 345.2 195.6 199.7 191.0 282.7 285.8 282.8 65.1 65.2 64.8 347.8 351.0 347.6 JULY AUG. SEP. 7 7 3 .6 776 .0 7 7 6 .7 4 3 1 . .4 4 3 0 . .8 4 2 9 , .7 1205 .0 1 2 0 6 .9 1206 .4 483.9 479.6 476.7 332.1 328.3 324.9 816.0 807 .9 801.5 343.0 343.0 340.8 188.6 190.1 187.5 277.1 279.5 277.6 64.4 64.3 64.0 341.5 343.8 341.6 OCT. NOV. DEC. 777 .7 784 .0 783 .9 430 .0 430 .4 429 . 4 1207 .7 1214 .4 1213 .2 473.3 468.8 467.6 321.6 318.1 313.6 794.9 786.9 781.2 340.7 345.0 347.2 189.2 194.0 195.8 277.6 276.2 275.9 63 .7 63.6 61.6 341.3 339.8 337.5 786 . 1 787 .7 791.8 428 .0 428 .0 432.6 1214 .2 1215 .7 1224.4 465.6 463.8 462.1 311.8 308.4 306.8 777.4 772.2 768.9 348.1 349.4 357.6 196.2 186.1 180.5 276.1 271.8 271.1 61.4 61.3 60.9 337.4 333.1 332.0 791.2 786.8 784.8 428.3 428.3 427.9 1219.5 1215.1 1212.7 464.0 463.5 462.9 308.7 308.0 307.3 772.7 771.5 770.3 349 . 4 349 .6 351.5 186.6 182.2 182.7 273.0 271.8 271.5 61.4 61.2 61.2 334.4 332.9 332.7 Small-denomination time deposits2 Savings deposits 1 At commercial banks 752.5 752.9 At thrift institutions 42 8 . 6 428.1 •JAN. FEB. MAR. 750. 2 754. 0 7 5 8 . ,5 APR. MAY JUNE Date 1992-NOV. DEC. -JAN. FEB. MAR. p Week e n d i n g 1994-FBB. 14 21 28 2 Large-denomination time deposits 3 At thrift institutions 68 . 6 67 . 2 Total 365.0 358.9 MAR. 7 14 21 28 790.9 794.7 790.9 789.0 431.0 432.6 432.7 432.7 1221.9 1227.3 1223.6 1221.7 462.7 462.2 462.0 461.8 307.2 306.9 306.6 306.4 769.8 769 .2 768.7 768.2 354.3 357.8 359 .3 358.6 178.7 181.5 184.1 179.7 271.6 272 . 1 272.2 271.3 61.0 60.9 60.8 60.8 332.6 333.0 333.0 332.0 APR. 4p HP 795.4 798.9 435.9 437.0 1231.2 1235.9 461.5 461.3 306.6 306.5 768.1 767 . 8 358.4 368.8 175.9 176.6 264.1 267.4 61.2 61.2 325.3 328.5 I S l & t S i m T m : i SlSEtS a n d official institutions. p Total Institutiononly money market funds preliminary t h o s e i s s u e d in a m o u n t s of l e s s t h a n $ 1 0 0 , 0 0 0 . All IRA a n d K e o g h a c c o u n t b a l a n c e s at c o m m e r c i a l Page 9 H.6 (508) Table 5 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Date 1. 2 : commercial banks Debt components6 Non-M3 Components of L Term RPs1 At thrift institutions Total Term Eurodollars2 Savings bonds Short-term Treasury^ securities3 Bankers acceptances4 Commercial paper5 Federal debt Non-Federal debt 1992-NOV. DEC. 6 1 . .5 61.. 1 2 0 . ,3 2 0 . ,0 81. 8 81. 1 47. 2 45. 6 154. 4 156. 4 3 3 4 . ,4 3 4 5 . ,3 20. 8 21. 4 370. 4 366. 3 3028. 3 3069. 8 8629 . 9 8653. 5 1993-JAN. FEB. MAR. 59 .. 1 60..2 6 3 . .7 2 1 . ,0 2 2 .,1 2 2 .,3 8 0 . ,1 8 2 . ,3 8 6 . ,0 43 . 5 4 6 . ,7 4 9 . ,8 1 5 8 . ,6 1 6 1 . .0 1 6 2 . ,9 3 4 3 . .0 3 4 0 ..5 3 4 1 . .9 21. 4 20. 2 18. 9 3 6 7 . ,7 359.,1 3 6 1 . .6 3076. 2 3087. 3 3121. 4 8 6 6 8 .,8 8 6 7 0 . .0 8 6 7 7 . ,2 APR. MAY JUNE 65..9 66..6 70,.2 2 2 . ,9 2 3 ..2 2 2 . ,6 8 8 . .9 8 9 . .8 9 2 . ,8 4 8 . .7 4 8 . .7 4 5 . .5 1 6 4 . .2 1 6 5 . .2 166 . 1 333..4 3 3 5 ..2 338,.6 1 8 . ,7 19 .. 1 18.. 5 3 6 9 . .7 3 6 6 . .7 369 . 5 3 1 4 2 . .9 3161..1 3 1 8 8 . .9 8 6 9 8 ..8 8 7 2 2 ,. 8 8 7 5 7 ..4 JULY AUG. SEP. 7 2 ,. 7 7 1 .9 71,. 1 2 3 . ,7 2 4 ..2 2 4 . .5 9 6 . .4 9 6 . .0 9 5 . .6 4 1 . .9 44..1 4 5 . .2 167 . 0 167,.8 1 6 8 , .7 337,.5 340,.4 324 .3 17.. 4 16..2 1 5 . .9 367,.3 374 .6 380 .2 3201..8 3 2 2 9 ..4 3 2 5 1 , .9 8796,. 1 8824,.4 8 8 6 0 ,. 3 OCT. NOV. DEC. 70 .2 69 . 4 70 .3 2 4 . .0 2 4 . .7 2 5 . .0 9 4 . .3 9 4 . .0 95,.4 4 4 . .9 48 .5 45 .7 1 6 9 ,. 6 170 .6 171 .4 319 .5 328 .6 336 .5 16 ,. 2 16,. 5 17 . 0 385 .2 385 .6 389 . 3 3249 . 4 3287 .0 3329 .5 8902 .3 8944 .4 8992 .0 199 4-JAN. FEB. MAR. p 65 . 5 62 . 7 65 . 3 2 5 . .2 2 5 ..0 23,.8 9 0 , .7 87 ,.7 89 ,. 1 44 . 1 46 .2 43 . 8 172 .6 173 .7 p 336 .9 333 .4 p 17 . 3 17 •2 p 398 .9 407 . 0 p 3333 .0 3345 .4 p 9026 .4 9051 .3 p Week e n d i n g 1994-FEB. 14 21 28 63 . 0 62 . 6 63 . 8 25 . 1 25 . 1 24 .8 88 . 1 87 . 8 88 . 6 46 .6 45 . 9 45 .6 .7 .7 .6 .2 MAR. 7 14 21 28 62 66 64 65 APR. 4p HP 70 . 4 67 . 1 24 24 23 23 .3 .1 .9 .3 22 .7 23 . 1 87 90 88 88 .0 .7 .4 .5 93 . 1 90 .2 42 44 43 44 .7 .4 .9 .2 43 . 3 43 . 4 3. Term RPs are t h o s e with original maturities greater than one day, excluding continuing contracts and retail RPs. Term Eurodollars are t h o s e with original maturities greater than one day. Consists of t h o s e 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 m o n e y market mutual funds. Consists of U.S. Treasury bills and c o u p o n s with remaining maturities of l e s s than 12 months held by other than depository institutions, Federal R e s e r v e Banks, m o n e y market 4. 5. 6. N e t o f b a n k e r s ^ c c e p f a n c ^ h e f d by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds. Total commercial paper l e s s commercial paper held by money market mutual funds. ... Debt data are on a monthly a v e r a g e basis, derived by averaging adjacent end-of-month levels, and have b e e n adjusted to remove discontinuities. Digitized forpFRASER preliminary Page 10 H.6 (508) Table 6 MEMORANDUM ITEMS Billions of dollars, not seasonally adjusted Demand deposits at banks due to Foreign commercial banks Foreign official institutions 1992-NOV. DEC. 8.4 9.0 1.6 1.6 8.9 9.6 4.1 5.2 5.5 6.0 12.4 14.3 1993-JAN. FEB. MAR. 8.7 8.7 8.3 1.4 1.5 10.1 10.3 10.5 6.1 7.7 5.9 5.4 APR. MAY JUNE 7.8 8.3 8.2 1.7 1.6 10.8 6.2 1.6 11.5 5.8 4.2 5.4 JULY AUG. SEP. 8.5 1.7 OCT. NOV. DEC. Date 1.6 11.1 IRA and Keogh Accounts Time and savings deposits at commercial banks At commercial banks 21.9 25.5 2.7 2.6 147.2 147.2 125.6 124.9 46.2 45.4 318.9 317.4 27.0 25.2 13.2 40.8 35.4 22.8 2.0 2.5 2.4 147.2 146.9 147.7 123.7 122.6 121.2 44.6 45.6 45.6 315.6 315.1 314.4 8.1 14.5 16.1 21.1 26.5 26.1 34.6 1.5 2.6 3.0 148.0 146.9 146.5 119.8 119.1 118.5 45.1 46.0 46.7 313.0 312.0 311.7 4.2 3.8 5.5 6.9 5.7 9.3 21.4 20.0 23.2 32.5 29.5 37.9 2.8 3.1 2.8 146.4 146.1 145.8 118.1 117.8 117.4 47.3 47.4 47.5 311.8 311.2 310.7 Demand deposits at commercial banks Balance at Federal Reserve 4.3 4.2 5.8 Note balances at depository institutions Total cash balance At thrift institutions At money market funds Total 8.1 1.6 8.5 1.5 11.5 11.2 10.8 8.3 8.2 9.2 1.6 1.8 1.6 10.7 10.8 10.9 4.5 4.0 5.2 5.9 5.6 6.7 12.6 8.8 16.2 23.1 18.4 28.1 2.6 2.7 2.6 145.2 144.6 144.2 117.6 118.0 117.5 48.1 49.1 49.8 310.9 311.7 311.4 199 4-JAN. FEB. MAR. p 8.5 8.3 7.9 1.6 11.0 1.5 1.6 11.0 11.0 5.7 4.2 4.5 7.3 6.3 5.2 25.2 27.9 15.7 38.3 38.4 25.3 2.1 2.5 2.4 143.9 143.6 142.8 116.6 116.1 115.5 50.1 50.7 51.3 310.6 e 310.4 e 309.6 e Week e n d i n g 199 4-FEB. 14 21 28 7.5 8.4 11.0 8.6 1.5 1.5 1.3 3.6 4.2 4.4 5.3 5.6 4.5 30.8 23.0 24.2 39.7 32.8 33.1 2.5 2.5 2.5 11.0 11.0 11.0 5.1 4.9 5.7 4.6 15.9 6.5 19.6 11.0 4.5 3.9 5.8 3.4 20.0 25.6 15.2 31.1 28.0 2.5 2.5 2.4 2.3 11.0 11.0 5.3 3.9 6.3 4.3 17.0 9.2 28.6 17.4 1.9 1.0 MAR. APR. e p U.S. government deposits Time and savings deposits due to foreign banks and official institutions 7 14 21 28 8.0 1.5 7.9 7.8 7.9 1.6 1.7 4p HP 8.3 9.9 1.5 1.5 estimated preliminary 1.8 11.0 11.0 H.6 (508) Special Supplementary Table Monthly Survey of Selected Deposits 1 February 23, 1994 and March 30,1994 (not seasonally adjusted) Insured Commercial Banks A m o u n t Outstanding ($mil.) Liability Categories Feb. 23 Mar. 30 NOW Accounts 295,573 297,488 Savings Deposits 2 Change (percent) 0.65 A v e r a g e Rate Paid (%) Feb. 23 1.82 Mar. 30 Change (b. p.) 1.81 -1 0 776,204 779,348 0.40 2.43 2.43 Personal 611,725 615,877 0.68 N.A. N.A. N.A. Nonpersonal 164,479 161470 -0.61 N.A. N.A. N.A. Interest-bearing time deposits with balances of less than $100,000 with original maturities of: 7 to 91 days 29,578 29,535 -0.15 2.68 2.76 92 to 1X2 days 109,444 107,352 -L91 2.94 3.02 8 183 days to 1 year 143,624 144,004 0.26 3.18 3.27 9 1 to 2-[/2 year 141,006 139,932 -0.76 161 169 8 181,240 180,939 -0.17 4.35 4.46 11 143,409 142,204 -0.84 N.A. N.A. N.A. 2-l/2 years mid over All IRA/Keogh Plan deposits 3 8 BIF-insured Savings Banks 4 Amount Outstanding ($mil.) Liability Categories Change (percent) A v e r a g e Rate Paid (%) Change (b. p. ) Feb.23 Mm\ 30 NOW Accounts 10,870 1L078 1.91 Savings Deposits" 78,016 78,700 0.88 2.64 2.63 -1 Personal 74,756 75,443 0.92 N.A. N.A. N.A. 3,260 3,257 -0.10 N.A. N.A. N.A. 2,735 2,671 -2.34 2.69 2.71 2 92 to 1X2 days 13,165 13,177 0.09 3.04 3.08 4 183 days to 1 year 17,436 17,511 0.43 3.34 3.37 3 Nonpersonal Feb. 23 Mar. 30 1.88 1.83 -5 Interest-bearing time deposits with balances of less than $100,000 with original maturies of: 7 to 91 days 1 to 2-l/2 year 16,338 16,183 -0.95 3.76 3.85 9 2-'/ 2 years and over 20,939 21,122 0.88 4.66 4.75 9 19,474 19,447 -0.14 N.A. N.A. N.A. All IRA/Keogh Plan deposits 3 N.A. - data are not available NOTE: Data for earlier month may show revisions. 1. Estimates are based on data collected by the Federal Reserve System from a stratified random sample of about 460 commercial banks and 80 savings banks. All rates are expressed as annual effective yields. 2. Includes personal and nonpersonal money market deposit accounts. 3. Total IRA and Keogh Plan deposits regardless of size, type of instrument in which held, or interest rate paid. 4. BIF-insured savings banks include both mutual and federal savings banks.