Full text of H.6 Money Stock Measures : April 1, 2004

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FEDERAL RESERVE statistical release
H.6 (508)
Table 1

MONEY STOCK MEASURES

For release at 4:30 p.m. Eastern Time

Billions of dollars

April 1, 2004

Date

M11

M22

M33

Seasonally adjusted
2002-Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1188.4
1177.5
1182.0
1186.3
1192.6
1181.1
1188.7
1200.0
1202.6
1215.0

5521.5
5527.6
5558.6
5580.6
5623.0
5658.3
5684.9
5730.7
5777.2
5805.8

8097.4
8119.3
8155.4
8166.6
8208.5
8271.6
8308.0
8335.9
8467.5
8540.6

2003-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1218.4
1232.9
1238.2
1243.4
1255.5
1268.7
1273.3
1282.3
1282.4
1284.6
1283.8
1293.0

5838.2
5881.0
5906.4
5949.7
5998.5
6035.7
6079.5
6118.2
6096.4
6080.3
6076.1
6070.9

8550.6
8587.8
8619.4
8655.9
8711.3
8761.5
8837.9
8876.2
8865.3
8836.3
8823.8
8816.7

2004-Jan.
Feb.

1286.8
1311.4

6075.5
6127.7

8866.8
8928.4

Not seasonally adjusted
2002-Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1188.7
1187.9
1177.5
1186.5
1193.4
1176.6
1181.3
1192.4
1200.8
1240.3

5545.7
5559.5
5528.3
5566.3
5609.2
5653.5
5679.3
5718.5
5794.0
5844.2

8148.9
8144.2
8131.0
8154.9
8174.5
8243.0
8261.4
8291.3
8486.9
8604.5

2003-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1220.0
1219.4
1238.2
1253.1
1251.6
1269.3
1274.2
1279.8
1275.0
1276.5
1281.1
1318.6

5832.6
5859.0
5921.4
5978.8
5966.4
6019.0
6066.7
6123.3
6095.7
6074.8
6097.3
6111.0

8568.5
8600.9
8659.6
8677.8
8686.7
8751.7
8808.7
8859.2
8827.9
8802.8
8847.4
8874.9

2004-Jan.
Feb.

1288.1
1297.7

6066.5
6097.9

8872.7
8927.2

Footnotes appear on the following page
p
preliminary
Components may not add to totals due to rounding.



Page 2
H.6 (508)
Table 2

MONEY STOCK MEASURES
Percent change at seasonally adjusted annual rates
M1

M2

M3

3 Months from Nov. 2003 TO Feb. 2004

8.6

3.4

4.7

6 Months from Aug. 2003 TO Feb. 2004

4.5

0.3

1.2

12 Months from Feb. 2003 TO Feb. 2004

6.4

4.2

4.0

5.8

2.3

3.7

Sep. 22, 2003 (26 weeks previous)

4.1

0.5

1.2

Mar. 24, 2003 (52 weeks previous)

6.2

4.2

3.8

Thirteen weeks ending March 22 , 2004
from thirteen weeks ending:
Dec. 22, 2003 (13 weeks previous)

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 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 savings deposits (including money market deposit accounts), small-denomination time deposits (time deposits in amounts of less than $100,000), and balances in retail
money market mutual funds. Excludes individual retirement account (IRA) and Keogh balances at depository institutions and money market funds. Seasonally adjusted M2 is computed by
summing savings deposits, small-denomination time deposits, and retail money fund balances, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.
Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more), balances in institutional money funds, RP liabilities (overnight and term) issued by all depository
institutions, and Eurodollars (overnight and term) held by U.S. residents at foreign branches of U.S. banks worldwide and at all banking offices in the United Kingdom and Canada. Excludes
amounts held by depository institutions, the U.S. government, money funds, and foreign banks and official institutions. Seasonally adjusted M3 is calculated by summing large time deposits,
institutional money fund balances, RP liabilities, and Eurodollars, each seasonally adjusted separately, and adding this result to seasonally adjusted M2.
Note: Current and historical H.6 data are available each week on the Federal Reserve Board's web site (http://www.federalreserve.gov/). Monthly data are available back to January 1959,
and weekly data are available back to January 1975 for most series. For information about individual copies or subscriptions, contact Publications Services at the Federal Reserve Board
(phone 202-452-3245, fax 202-728-5886). For paid electronic access to current and historical data, call STAT-USA at 1-800-782-8872 or 202-482-1986.




Page 3
H.6 (508)
Table 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjusted
M2

M1
Period ending

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

2003-Dec. 29

1286.8

1292.9

1299.2

6076.0

6071.4

6069.8

8824.0

8815.9

8819.7

2004-Jan.

5
12
19
26

1287.4
1287.0
1287.3
1287.7

1294.6
1289.6
1288.1
1286.5

1292.9
1271.2
1288.9
1292.9

6074.8
6073.7
6073.4
6073.6

6068.3
6067.9
6068.6
6072.5

6061.6
6065.5
6077.6
6085.4

8824.1
8825.8
8828.0
8832.5

8819.1
8829.6
8840.5
8859.4

8828.3
8849.5
8864.5
8895.3

Feb.

2
9
16
23

1287.8
1288.5
1291.1
1293.9

1286.6
1291.5
1298.1
1305.7

1293.4
1290.6
1315.6
1323.3

6074.7
6076.3
6080.1
6085.2

6080.5
6088.6
6101.7
6116.2

6093.3
6098.2
6129.9
6143.5

8835.8
8841.1
8849.7
8859.3

8873.6
8885.1
8902.0
8914.8

8884.9
8895.5
8932.2
8946.7

Mar.

1
8
15p
22p

1297.2
1298.4
1300.7
1304.5

1313.2
1316.1
1317.4
1322.7

1323.1
1302.5
1320.6
1344.5

6091.6
6096.8
6104.0
6112.2

6130.6
6141.3
6148.9
6158.4

6150.7
6141.1
6160.3
6181.3

8870.5
8880.6
8894.5
8908.1

8932.7
8945.5
8959.3
8972.1

8956.3
8946.9
8987.4
8997.6

Not seasonally adjusted
2003-Dec. 29

1290.6

1316.0

1371.6

6094.0

6110.8

6093.9

8841.1

8877.7

8859.0

2004-Jan.

5
12
19
26

1295.8
1296.5
1296.9
1296.4

1330.6
1322.4
1309.3
1289.6

1328.3
1257.5
1279.6
1292.8

6096.5
6096.1
6094.8
6093.1

6113.3
6105.6
6095.3
6075.8

6127.9
6090.8
6068.7
6015.9

8847.1
8852.3
8857.6
8862.8

8877.2
8875.1
8877.1
8874.1

8874.0
8892.3
8883.1
8847.1

Feb.

2
9
16
23

1295.6
1296.9
1299.4
1301.1

1284.5
1287.2
1290.9
1294.1

1307.9
1268.5
1294.3
1305.7

6091.0
6089.5
6088.8
6090.8

6054.5
6052.8
6063.6
6082.4

6042.4
6084.2
6111.9
6090.9

8866.4
8871.5
8877.7
8885.0

8870.3
8875.1
8891.7
8911.0

8858.5
8911.7
8949.5
8924.3

Mar.

1
8
15p
22p

1301.7
1302.9
1304.1
1304.8

1298.0
1302.2
1305.1
1314.2

1323.5
1285.2
1306.0
1342.1

6092.1
6095.3
6099.8
6104.8

6102.0
6120.9
6138.0
6159.0

6120.8
6160.1
6180.2
6174.9

8891.8
8900.2
8910.4
8921.3

8931.8
8950.3
8971.4
8994.3

8941.7
8985.7
9033.7
9016.0

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
preliminary data.
Components may not add to totals due to rounding.




Page 4
H.6 (508)
Table 4

SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars
Other checkable deposits
Currency1

Date

Travelers checks2

Demand deposits3

2002-Oct.
Nov.
Dec.

621.1
623.8
627.4

7.8
7.8
7.8

297.1
294.7
301.2

151.7
152.3
153.2

At thrift
institutions 5
122.4
124.1
125.4

2003-Jan.
Feb.
Mar.

630.9
635.4
639.1

7.8
7.8
7.7

299.9
306.1
305.4

153.8
156.0
157.7

126.1
127.6
128.3

279.9
283.6
286.0

Apr.
May
June

642.0
644.6
646.4

7.7
7.6
7.6

307.4
312.2
319.4

156.5
159.7
163.1

129.9
131.5
132.2

286.4
291.1
295.3

July
Aug.
Sep.

648.0
650.8
654.2

7.6
7.6
7.6

318.6
321.3
313.9

164.7
166.7
169.5

134.4
135.9
137.2

299.2
302.6
306.7

Oct.
Nov.
Dec.

658.3
661.3
663.9

7.7
7.7
7.7

312.1
308.4
311.6

169.3
170.8
173.7

137.2
135.6
136.0

306.5
306.4
309.7

2004-Jan.
Feb.

664.9
665.7

7.8
7.8

300.9
318.6

176.5
181.1

136.8
138.2

313.3
319.3

664.7

7.8

304.8

180.0

135.6

315.5

At commercial banks4

Week ending
2004-Jan. 26

1.
2.
3.
4.
5.

Total
274.1
276.4
278.6

Feb.

2
9
16
23

665.1
665.4
665.9
665.8

7.8
7.8
7.8
7.8

305.4
301.9
321.3
327.1

178.3
177.8
182.2
184.5

136.7
137.7
138.3
138.0

315.0
315.5
320.5
322.5

Mar.

1
8
15p
22p

666.0
665.9
666.2
667.1

7.9
7.9 e
7.8 e
7.8 e

328.1
306.9
322.6
342.3

181.7
181.7
185.5
186.6

139.5
140.2
138.4
140.7

321.2
321.8
324.0
327.3

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.
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.
Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.

e
estimated
p
preliminary
Components may not add to totals due to rounding.



Page 5
H.6 (508)
Table 5

SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars
Small-denomination time deposits2

Savings deposits1
Date

At commercial
banks

3.

Total

At commercial
banks

At thrift
institutions

Total

Retail
money
funds3

Total
Non-M1 M2

2002-Oct.
Nov.
Dec.

2003.8
2041.3
2053.2

692.8
701.4
716.2

2696.7
2742.7
2769.5

598.4
595.5
591.3

304.7
303.3
302.3

903.1
898.8
893.6

930.9
933.1
927.7

4530.7
4574.6
4590.8

2003-Jan.
Feb.
Mar.

2085.5
2110.3
2126.8

728.8
744.0
759.2

2814.3
2854.3
2886.0

587.4
583.8
580.2

300.7
298.1
296.4

888.1
881.9
876.6

917.4
912.0
905.6

4619.8
4648.1
4668.2

Apr.
May
June

2162.0
2189.9
2221.6

773.0
793.9
799.9

2935.0
2983.8
3021.5

576.1
571.2
566.0

294.5
291.5
288.3

870.6
862.7
854.3

900.7
896.5
891.2

4706.4
4743.0
4767.1

July
Aug.
Sep.

2269.6
2302.5
2291.4

812.6
826.2
834.2

3082.2
3128.7
3125.6

557.7
550.8
545.4

285.4
282.1
279.7

843.1
832.8
825.1

880.9
874.3
863.2

4806.2
4835.8
4814.0

Oct.
Nov.
Dec.

2301.2
2321.9
2328.2

840.1
834.7
830.9

3141.3
3156.6
3159.0

541.6
538.0
536.2

277.2
274.7
272.4

818.9
812.7
808.6

835.5
823.1
810.3

4795.7
4792.3
4777.9

2004-Jan.
Feb.

2363.2
2396.5

827.4
837.7

3190.6
3234.3

534.2
532.2

270.9
270.2

805.1
802.3

793.1
779.7

4788.8
4816.3

2367.2

833.0

3200.1

534.3

270.9

805.2

787.2

4792.5

Week ending
2004-Jan. 26

1.
2.

At thrift
institutions

Feb.

2
9
16
23

2372.0
2388.9
2395.2
2400.2

836.1
831.3
837.3
840.3

3208.0
3220.2
3232.4
3240.5

533.7
533.1
532.4
531.7

270.7
270.4
270.1
270.0

804.4
803.5
802.5
801.7

787.5
783.9
779.4
777.9

4800.0
4807.6
4814.3
4820.1

Mar.

1
8
15p
22p

2409.0
2429.1
2426.1
2417.4

843.4
843.9
851.1
855.7

3252.3
3273.0
3277.1
3273.0

530.8
530.4
529.8
529.1

269.9
269.9
269.8
269.5

800.7
800.3
799.6
798.7

774.5
765.3
762.9
765.1

4827.6
4838.6
4839.6
4836.8

Savings deposits include money market deposit accounts.
Small-denomination time deposits 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.
IRA and Keogh account balances at money market mutual funds are subtracted from retail money funds.

p
preliminary
Components may not add to totals due to rounding.



Page 6
H.6 (508)
Table 6

SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3
Billions of dollars
Large-denomination time deposits1
Date

At commercial
banks2

At thrift
institutions

Total

RPs3

Eurodollars4

Total
Non-M2 M3

2002-Oct.
Nov.
Dec.

1138.3
1202.4
1231.8

709.2
700.8
676.6

114.6
116.4
117.2

823.8
817.1
793.8

422.3
445.0
480.9

220.7
225.8
228.3

2605.2
2690.3
2734.8

2003-Jan.
Feb.
Mar.

1205.3
1189.5
1175.5

682.0
677.9
682.7

118.5
118.2
117.3

800.5
796.2
800.1

472.6
485.4
497.4

234.0
235.7
239.9

2712.4
2706.7
2712.9

Apr.
May
June

1157.2
1137.7
1141.5

682.9
688.8
689.2

117.6
116.9
118.1

800.5
805.7
807.3

501.6
511.3
517.2

246.8
258.2
259.7

2706.2
2712.8
2725.7

July
Aug.
Sep.

1178.5
1162.2
1162.4

694.2
701.8
710.2

121.1
122.6
122.2

815.3
824.4
832.4

497.0
494.4
496.8

267.6
277.0
277.4

2758.4
2758.1
2769.0

Oct.
Nov.
Dec.

1140.8
1117.9
1098.8

706.2
715.5
739.0

121.7
120.8
119.9

827.9
836.3
858.8

504.3
511.3
505.3

282.9
282.2
282.8

2755.9
2747.7
2745.8

2004-Jan.
Feb.

1101.7
1089.6

778.4
781.6

120.6
121.2

899.0
902.8

502.1
521.0

288.5
287.3

2791.2
2800.7

1095.8

786.0

122.3

908.3

517.7

288.1

2809.9

Week ending
2004-Jan. 26

1.
2.
3.
4.

Institutional
money funds

Feb.

2
9
16
23

1091.9
1084.7
1085.9
1092.8

772.5
785.2
776.8
784.0

121.1
120.6
120.4
121.3

893.6
905.8
897.2
905.2

519.5
515.4
531.4
518.6

286.6
291.4
287.7
286.5

2791.5
2797.3
2802.3
2803.2

Mar.

1
8
15p
22p

1097.8
1097.0
1099.0
1093.2

782.5
789.1
796.6
792.8

122.8
122.5
123.5
124.0

905.3
911.6
920.1
916.8

518.7
507.9
522.8
528.1

283.8
289.2
285.2
278.3

2805.6
2805.7
2827.1
2816.3

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, U.S. government, and foreign banks and official institutions.
Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United Kingdom and Canada, excluding those held by
depository institutions and by money funds.

p
preliminary
Components may not add to totals due to rounding.




Page 7
H.6 (508)
Table 7

NOT SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars
Other checkable deposits
Currency1

Date

Travelers checks2

Demand deposits3
At commercial banks4

4.
5.

Total

2002-Oct.
Nov.
Dec.

618.3
623.1
630.5

7.7
7.6
7.7

295.3
296.6
317.5

150.2
149.4
158.4

2003-Jan.
Feb.
Mar.

628.9
635.2
639.9

7.7
7.7
7.7

300.5
297.6
303.0

159.8
154.7
158.7

123.2
124.2
128.9

283.0
278.9
287.6

Apr.
May
June

643.4
646.5
647.7

7.5
7.5
7.7

307.7
307.8
318.6

160.5
157.5
161.9

133.9
132.2
133.4

294.4
289.7
295.2

July
Aug.
Sep.

648.7
650.4
650.9

7.8
7.8
7.7

319.7
321.4
312.4

163.0
163.5
167.1

134.9
136.7
137.0

297.9
300.2
304.1

Oct.
Nov.
Dec.

655.7
660.2
667.0

7.6
7.6
7.6

309.9
310.2
327.4

167.5
167.1
180.3

135.7
136.1
136.3

303.2
303.2
316.6

2004-Jan.
Feb.

662.7
665.9

7.7
7.8

301.4
310.2

183.3
179.6

133.0
134.3

316.3
313.9

661.1

7.8

306.1

186.9

131.0

317.8

Week ending
2004-Jan. 26

1.
2.
3.

At thrift
institutions 5
120.8
124.0
126.2

271.0
273.5
284.6

Feb.

2
9
16
23

662.4
666.0
667.4
665.5

7.8
7.8
7.8
7.8

316.8
285.4
310.1
316.8

185.5
175.1
176.6
182.6

135.5
134.2
132.4
133.0

321.0
309.3
309.0
315.6

Mar.

1
8
15p
22p

665.3
667.8
667.2
667.8

7.8
7.8 e
7.8 e
7.8 e

328.4
290.1
311.6
337.8

184.1
179.9
181.6
187.9

137.9
139.5
137.8
140.9

322.0
319.4
319.5
328.7

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.
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.
Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.

e
estimated
p
preliminary
Components may not add to totals due to rounding.



Page 8
H.6 (508)
Table 8

NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars
Small-denomination time deposits2

Savings deposits1
Date
2002-Oct.
Nov.
Dec.

At commercial
banks
2001.7
2055.1
2060.9

2003-Jan.
Feb.
Mar.

3.

Total

At commercial
banks

At thrift
institutions

Total

Total
Non-M1 M2

692.1
706.2
718.9

2693.8
2761.3
2779.8

598.7
596.4
591.7

304.9
303.8
302.5

903.7
900.2
894.2

928.7
931.6
930.0

4526.2
4593.2
4603.9

2075.8
2097.4
2127.2

725.3
739.4
759.3

2801.1
2836.8
2886.5

587.7
583.8
579.8

300.8
298.1
296.2

888.5
881.9
876.0

923.0
920.9
920.6

4612.6
4639.6
4683.2

Apr.
May
June

2171.3
2177.7
2217.7

776.3
789.5
798.5

2947.6
2967.1
3016.2

575.8
571.1
565.9

294.3
291.4
288.2

870.1
862.6
854.1

908.0
885.1
879.5

4725.7
4714.8
4749.7

July
Aug.
Sep.

2264.5
2308.4
2299.0

810.7
828.3
837.0

3075.2
3136.7
3136.0

557.5
550.7
545.4

285.3
282.0
279.7

842.8
832.7
825.0

874.6
874.2
859.7

4792.5
4843.5
4820.7

Oct.
Nov.
Dec.

2303.5
2339.0
2337.7

840.9
840.8
834.3

3144.5
3179.9
3172.0

541.7
538.4
536.3

277.3
274.9
272.5

819.0
813.3
808.7

834.9
823.0
811.7

4798.4
4816.2
4792.4

2004-Jan.
Feb.

2353.1
2380.2

823.8
832.0

3176.9
3212.2

534.2
532.1

271.0
270.1

805.2
802.2

796.3
785.8

4778.4
4800.2

2312.0

813.5

3125.5

533.8

270.7

804.6

793.0

4723.1

Week ending
2004-Jan. 26

1.
2.

At thrift
institutions

Retail
money
funds3

Feb.

2
9
16
23

2321.6
2391.6
2393.6
2368.5

818.3
832.3
836.7
829.2

3139.8
3223.8
3230.4
3197.7

533.3
533.0
532.4
531.6

270.5
270.3
270.0
270.0

803.8
803.3
802.4
801.6

790.8
788.5
784.8
785.8

4734.5
4815.7
4817.6
4785.1

Mar.

1
8
15p
22p

2380.9
2448.9
2443.7
2405.6

833.6
850.8
857.3
851.5

3214.5
3299.7
3301.0
3257.2

530.7
530.2
529.7
529.0

269.9
269.8
269.7
269.4

800.6
800.1
799.4
798.4

782.2
775.2
773.8
777.2

4797.3
4874.9
4874.2
4832.8

Savings deposits include money market deposit accounts.
Small-denomination time deposits 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.
IRA and Keogh account balances at money market mutual funds are subtracted from retail money funds.

p
preliminary
Components may not add to totals due to rounding.



Page 9
H.6 (508)
Table 9

NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3
Billions of dollars
Large-denomination time deposits1
Institutional
money funds

Date

At thrift
institutions
114.4
116.0
117.0

Total

At commercial
banks
359.9
385.5
423.8

2002-Oct.
Nov.
Dec.

1120.9
1213.5
1263.0

2003-Jan.
Feb.
Mar.

1236.8
1217.2
1188.6

676.7
675.7
683.1

117.5
117.9
117.4

794.2
793.6
800.5

420.5
441.5
458.0

Apr.
May
June

1142.4
1120.4
1133.2

683.3
695.4
693.7

117.7
118.0
118.8

801.0
813.4
812.6

July
Aug.
Sep.

1164.7
1148.7
1141.1

695.0
700.9
710.8

121.2
122.4
122.3

Oct.
Nov.
Dec.

1126.5
1128.0
1125.0

706.5
714.3
737.0

2004-Jan.
Feb.

1128.0
1113.1

Week ending
2004-Jan. 26

1.
2.
3.
4.

At commercial
banks2
707.9
698.9
675.4

RPs3
At thrift
institutions
51.3
53.2
52.6

Total

Eurodollars4

Total
Non-M2 M3

411.2
438.7
476.4

218.3
225.8
228.5

2572.8
2692.9
2760.3

49.4
50.7
47.5

469.9
492.2
505.5

234.9
238.9
243.5

2735.9
2741.9
2738.1

455.9
475.9
480.1

49.4
49.1
49.4

505.4
525.0
529.5

250.3
261.5
257.4

2699.0
2720.3
2732.7

816.2
823.3
833.0

444.1
435.5
431.9

53.6
55.4
52.2

497.7
490.8
484.0

263.4
273.1
274.0

2741.9
2735.9
2732.2

121.8
120.6
119.5

828.3
834.9
856.5

433.6
441.2
431.6

58.2
62.7
67.5

491.8
503.9
499.0

281.4
283.3
283.3

2728.0
2750.0
2763.8

771.0
778.2

119.5
120.7

890.5
898.9

432.4
464.0

65.9
63.1

498.3
527.1

289.3
290.3

2806.1
2829.4

1135.2

770.2

119.8

890.0

451.7

66.8

518.5

287.5

2831.2

822.3
814.9
792.4

Feb.

2
9
16
23

1120.1
1107.8
1110.0
1120.5

765.9
783.3
776.9
779.6

120.1
120.3
120.4
120.6

885.9
903.6
897.4
900.1

458.1
460.9
476.8
458.5

66.3
63.6
63.2
62.5

524.4
524.5
540.1
521.0

285.7
291.6
290.2
291.8

2816.1
2827.5
2837.6
2833.4

Mar.

1
8
15p
22p

1112.1
1109.5
1114.0
1104.7

775.6
787.2
796.6
792.1

121.7
122.2
123.5
123.9

897.3
909.4
920.1
916.0

461.0
456.3
471.5
479.7

61.9
61.1
60.5
59.1

522.9
517.4
532.0
538.8

288.5
289.3
287.4
281.7

2820.9
2825.6
2853.6
2841.2

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, U.S. government, and foreign banks and official institutions.
Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United Kingdom and Canada, excluding those held by
depository institutions and by money funds.

p
preliminary
Components may not add to totals due to rounding.




Page 10
H.6 (508)
Table 10

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

Foreign
commercial
banks

Foreign
official
institutions

U.S. government deposits
Demand
deposits at
commercial
banks
3.1
3.2
3.8

Balance
at
Federal
Reserve
4.9
5.0
4.9

Note
balances at
depository
institutions1
18.6
16.1
15.3

98.2
97.8
97.4

26.2
23.0
19.8

165.8
166.3
166.8

97.6
98.7
99.9

178.1
180.7
183.3

441.5
445.7
450.1

17.1
16.2
24.0

20.4
23.5
26.6

167.2
167.5
167.8

101.0
101.5
101.9

183.0
180.7
178.4

451.2
449.7
448.2

13.5
6.4
18.2

23.4
15.9
28.6

24.1
18.3
12.5

167.8
167.7
167.6

102.2
102.4
102.5

176.9
175.9
174.9

446.9
445.9
444.9

4.9
5.1
5.3

12.1
10.1
16.9

20.9
19.3
26.7

8.2
5.9
3.7

167.3
166.8
166.3

102.5
102.3
102.1

173.4 e
171.2 e
169.0 e

443.1 e
440.2 e
437.3 e

4.9
4.4

5.6
5.3

24.3
15.8

34.8
25.4

2.4 e
2.4 e

166.1 e
166.4 e

102.0 e
102.2 e

167.8 e
167.8 e

435.9 e
436.4 e

5.3

5.6

44.5

55.4

1.1
1.1
1.1

2003-Jan.
Feb.
Mar.

8.6
7.9
7.3

1.1
1.1
1.1

16.4
17.3
18.2

3.8
3.6
3.6

5.8
5.1
5.3

13.2
5.7
4.1

22.8
14.3
13.1

Apr.
May
June

7.2
7.5
7.8

1.1
1.1
1.2

18.4
18.0
17.5

5.3
3.6
4.8

7.5
6.7
6.7

4.2
6.0
12.4

July
Aug.
Sep.

7.5
7.1
6.7

1.2
1.2
1.3

17.7
19.0
20.2

3.7
3.8
4.2

6.2
5.6
6.2

Oct.
Nov.
Dec.

6.6
7.2
7.7

1.1
1.0
1.0

20.0
17.9
15.8

3.9
4.1
4.5

8.0 e
8.0 e

0.9 e
0.9 e

14.6 e
14.6 e

26.5
24.3
24.0

Feb.

2
9
16
23

4.7
4.3
4.0
4.4

4.9
5.4
5.2
4.9

43.5
16.4
9.9
16.9

53.1
26.1
19.2
26.3

Mar.

1
8
15p
22p

4.7
3.9
4.3
3.9

5.7
5.6
5.3
5.8

11.6
6.2
6.7
28.0

21.9
15.6
16.4
37.7

Source: Daily Treasury statement.

e
estimated
p
preliminary
Components may not add to totals due to rounding.




Time and
savings
deposits at
commercial
banks
20.2
23.1
25.9

166.8
166.3
165.8

7.2
7.9
8.7

Week ending
2004-Jan. 26

IRA and Keogh Accounts
At
money
market
funds
175.2
175.9
176.5

Total
cash
balance

2002-Oct.
Nov.
Dec.

2004-Jan.
Feb.

1.

Time and
savings
deposits
due to
foreign
banks and
official
institutions
14.0
14.8
15.5

At
commercial
banks

At
thrift
institutions

Total
440.2
440.0
439.8