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loSGOVi

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES:

APRIL 16, 1992

Billions of dollars
Date

M1 J

M2*

M3 3

L«

DEBT5

Seasonally adjusted
1990-APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

807.3
806.2
809.7
810.1
816.2
822.9
822.3
823.8
826.1

3280.6
3283.6
3292.3
3300.2
3315.8
3331.0
3334.5
3333.7
3339.0

4079,
4079.
4083.
4090.
4106.
4115.
4117.
4115.
4114.

4922.7
4906.5
4927.3
4930.1
4939.4
4964.2
4962.5
4960.2
4966.6

10321.3
10372.9
10438.8
10500.9
10566.0
10618.7
10656.5
10710.1
10749.9

1991-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

826.2
836.2
842.3
842.7
850.9
857.3
860.0
866.5
872.0
880.9
891.4
898.2

3344
3369
3386
3394
3405
3411.8
3407.4
3409
3411
3417
3431
3439

4125.8
4160.2
4165
4168
4170
4167
4157
4156
4152
4158
4167
4171

4981.8
5008.7
5004.2
4978.4
4958.3
4986.4
4991.3
4985.0
4974.2
4977.6
4990.4
4988.6

10778.6
10827.1
10863.2
10885.1
10937.5
10988.9
11025.5
11067.1
11105.0
11146.3
11187.9
11216.2

1992-JAN.
FEB.
MAR. p

910.4
930.8
938.6

3448.2
3475.1
3473.2

4175.6
4199.9
4188.4

4984.1
5016.0 p

11238.4
11273.9 p

Not seasonally adjusted
1990-APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

817.6
796.9
810.4
812.5
814.2
818.7
817.6
826.1
844.1

3295.6
3266.5
3288.5
3303.7
3315.6
3323.8
3330.4
3336.9
3351.9

4091.7
4065.2
4080.8
4092.4
4109
4108
4109
4118
4124

4932.9
4891.2
4916.0
4921.6
4934.3
4956.0
4953.7
4967,8
4986.4

10279.8
10326.2
10390.0
10452.2
10514.7
10571.0
10619.8
10682.0
10737.2

1991-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

832.7
823.4
835.0
853.0
841.7
858.1
862.3
864.5
867.4
875.5
893.9
917.3

3351.3
3358.3
3388.4
3410.8
3388.7
3408.
.0
3410.
.5
3409.
.0
3403.
.7
3412.8
3434.4
3453.2

4129.7
4150.8
4171.
4183.
4156.
4165.
4158.
4160.
4144.
4149.
4169.
4182.

4999.8
5003.5
5011.5
4990.8
4943.3
4974.4
4982.9
4979.5
4965.1
4967.4
4997.8
5008.8

10766.8
10797.4
10826.2
10844.9
10891.1
10939.3
10974.9
11015.3
11059.0
11107.9
11157.5
11203.6

1992-JAN.
FEB.
MAR. p

918.1
916.6
930.4

3456.2
3462.4
3473.8

4180.7
4189.4
4193.5

5002.2
5009.3 p

11226.3
11244.4 p

Footnotes appear on the following page,
p—indicates preliminary data.




H.6 ( 5 0 8 )
Table 2

MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates

Ml

M2

M3

Debt3

3 Months from DEC. 1991 TO MAR. 1992

18.0

3.9

1.6

3.1

6 Months from SEP. 1991 TO MAR. 1992,

15.3

3.6

1.7

3.7

11.4

2.5

0.5

4.1

6, 1992 (13 weeks previous)

16.6

4.2

- 2.2

OCT.

7, 1991 (26 weeks previous)

14.2

3.4

1.6

APR.

8, 1991 (52 weeks previous)

11.1

2.8

0.8

12 Months from MAR. 1991 TO MAR. 1992

Thirteen weeks ending APRIL 6> 1992
from thirteen weeks ending:

JAN.

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely,
November 1991 to February 1992, August 1991 to February 1992, and February 1991 to February 1992, 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 issuersj (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 (NON) 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, 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-Mi component as a whole and then
adding this result to seasonally adjusted Ml.
Consists of M2 plus laroe-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.l. In those releases, published levels of credit market debt are measured on a quarter-end
basis and include discontinuities.




H.6 (508)
Table 3

MONEY STOCK MEASURES

Billions of dollars

Seasonally adjus ted
Ml

Period ending

13-week
average

4-week
average

1992-JAN. 13
20
27

894.1
896.3
898.7

902.0
904.8
908.7

M3

M2
13-week
average

4-week
average

906.6
910.2
915.2

3433.6
3435.8
3438.4

3440.3
3442.2
3446.1

week
average

week
average

13-week
average

4-week
average

3443.6
3448.8
3452.8

4166.7
4168.0
4170.2

4165.5
4166.6
4173.0

4172.0
4177.6
4187.8

week
average

FEB.

3
10
17
24

901.4
904.4
907.4
910.5

913.3
918.4
923.7
928.5

921.2
927.1
931.4
934.2

3441.6
3445.1
3448.6
3451.8

3451.8
3459.1
3466.3
3472.4

3462.0
3472.9
3477.5
3477.1

4172.6
4175.0
4178.6
4180.1

4181.9
4187.8
4196.8
4197.7

4190.3
4195.4
4213.6
4191.3

MAR.

2
9
16
23
30p

913.6
916.9
920.4
923.4
926.1

931.9
935.0
937.9
938.9
939.0

935.0
939.5
942.9
938.3
935.4

3454.9
3458.3
3460.9
3463.1
3465.0

3476.5
3478.9
3479.2
3477.2
3473.2

3478.3
3482.6
3478.6
3469.4
3462.3

4182.6
4184.7
4186.0
4186.8
4187.6

4200.9
4201.8
4197.8
4195.9
4188.3

4203.3
4199.1
4197.5
4183.5
4173.0

APR.

6p

929.1

939.3

940.7

3467.2

3469.5

3467.5

4188.7

4180.6

4168.2

Not seasonally adjusted
M2

Ml

Period ending

13-week
average

4-week
average

1992-JAN. 13
20
27

903.5
906.4
909.1

927.2
926.6
921.2

13-week
average

4-week
average

927.6
914.9
898.9

3440.9
3444.1
3447.3

3458.5
3460.6
3458.6

week
average

M3
week
average

13-week
average

4-week
average

3468.1
3456.5
3436.8

4171.0
4173.7
4176.5

4178.4
4180.5
4181.5

4195.6
4184.2
4170.7

week
average

FEB.

3
10
17
24

910.8
912.8
914.5
916.7

912.5
910.9
911.8
914.8

908.6
921.2
918.5
911.0

3449.3
3451.8
3453.7
3455.9

3452.7
3452.8
3455.1
3459.7

3449.4
3468.5
3465.7
3455.1

4178.3
4180.0
4182.3
4182.8

4182.7
4182.7
4187.2
4186.9

4180.2
4195.6
4202.3
4169.5

MAR.

2
9
16
23
30p

917.7
919.4
920.9
921.4
921.7

917.0
921.1
925.3
928.4
930.2

917.3
937.5
935.2
923.6
924.5

3457.8
3459.8
3461.3
3462.5
3463.8

3463.2
3467.7
3471.4
3473.5
3473.3

3463.6
3486.3
3480.7
3463.3
3462.8

4184.1
4185.4
4186.1
4186.6
4187.5

4190.0
4192.7
4193.1
4196.3
4193.0

4192.6
4206.5
4203.8
4182.1
4179.4

APR.

6p

922.9

935.4

958.3

3466.2

3477.7

3503.8

4189.8

4192.6

4205.0

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—indicates preliminary data.




H.6 (508)
Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Nontransactions
components

Other checkable deposits
At
thrift
institutions5

Total

In M 2 6

In M3
only 7

207.0
208.7

65.7
85.2

292.6
293.9

25(f9.9
2512.9

781.9
775.6

271.8
275.9
276.9

209.5
211.6
214.6

85.2
85.8
86.6

294.6
297.5
301.3

2517.8
2533.3
2544.7

781.8
790.8
779.0

7.8
8.0
7.9

276.1
278.4
280.1

215.4
220.2
223.5

87.1
87.6
88.2

302.5
307.8
311.6

2552.0
2554.7
2554.5

774.0
764.9
755.9

259.3
261.3
262.9

7.8
7.8
7.8

279.3
280.1
280.6

225.8
229.5
232.4

87.8
87.8
88.2

313.7
317.3
320.6

2547.4
2543.0
2539.5

749.9
747.1
741.2

264.8
266.0
267.3

7.9
8.0
8.2

283.8
287.6
289.5

235.4
239.2
241.6

89.1
90.5
91.6

324.5
329.7
333.2

2536.5
2539.8
2541.2

741.4
735.9
732.1

269.4
271.6
271.9

8.2
8.1
8.0

293.8
305.0
309.6

245.9
250.7
252.8

93.1
95.4
96.4

338.9
346.1
349.1

2537.9
2544.3
2534.5

727.4
724.8
715.2

271.4
272.0
271.6

8.1
8.1
8.1

301.1
305.6
308.3

251.2
250.3
251.3

95.2
95.4
94.8

346.4
345.7
346.1

2545.8
2546.1
2542.9

722.5
736.0
714.2

Currency *

Travelers
checks 2

Demand
deposits3

1990-NOV.
DEC.

245.4
246.8

8.3
8.3

277.4
277.1

1991-JAN.
FEB.
MAR.

251.5
254.6
256.0

8.3
8.2
8.1

APR.
MAY
JUNE

256.3
256.6
257.6

JULY
AUG.
SEP.
OCT.
NOV.
DEC.

Date

1992-JAN.
FEB.
MAR. P

At
commercial
banks*

Neek ending
1992-FEB. 10
17
24
MAR.

2
9
16
23
30p

271.6
271.8
271.9
271.9
271.7

8.1
8.1
8.0
8.0
8.0

308.5
308.9
312.8
309.7
308.4

252.1
254.8
253.4
252.4
250.6

94.9
95.9
96.8
96.4
96.6

346.9
350.7
350.2
348.7
347.2

2543.3
2543.1
2535.7
2531.1
2526.9

725.0
716.5
718.9
714.1
710.7

APR.

6p

272.6

8.0

308.3

254.2

97.5

351.7

2526.9

700.6

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 NOH and ATS balances at commercial banks> U.S. branches and agencies of foreign banks, and Edge Act corporations.
5.
Consists of NOH and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
6.
Sum of overniqht RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including
money market deposit accounts) 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 overniqht 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 (508)
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
B i l l i o n s of dollars> seasonally adjusted
Savings deposits 1
At
At
commercial
thrift
banks
institutions

Date

Large-denomination time deposits3

Small-denomination time deposits2
Total

At~
At
commercial
thrift
banks
institutions

Total

General purpose
and broker/dealer
money market funds

Institutiononly money
market funds

At
At
commercial
thrift
4
banks
institutions

Total

1990-NOV.
DEC.

578.2
581.9

341.9
338.8

920.1
920.7

597.6
606.4

569.7
562.3

1167.3
1168.7

345.2
348.9

128.8
133.7

378.6
374.0

125.1
120.9

503.8
494.9

1991-JAN.
FEB.
MAR.

583.9
590.5
597.1

338.4
340.5
344.6

922.3
931.0
941.7

610.4
616.2
619.5

558.9
553.3
546.4

1169.3
1169.5
1165.9

356.6
361.0
365.0

138.3
145.5
148.5

379.1
385.1
382.1

117.5
114.5
110.8

496.6
499.6
492.8

APR.
MAY
JUNE

602.8
609.6
617.3

350.2
356.6
359.6

953.0
966.1
976.8

617.6
615.9
617.8

542.1
535.0
522.8

1159.7
1150.9
1140.6

366.6
367.8
368.8

152.9
155.2
155.3

379.6
379.2
377.9

108.1
104.3
100.4

487.7
483.5
478.3

JULY
AUG.
SEP.

623.2
630.4
636.7

363.0
363.7
365.7

986.1
994.1
1002.4

617.5
621.2
619.5

512.0
499.6
491.5

1129.5
1120.8
1111.0

367.9
362*4
359.9

155.4
158.6
162.6

373.8
372.0
368.1

97.4
93.5
90.4

471.2
465.5
458.5

OCT.
NOV.
DEC.

645.7
655.4
664.9

369.3
373.3
377.8

1015.0
1028.7
1042.6

614.1
606.4
598.5

481.1
472.8
464.5

1095.2
1079.2
1063.0

359.3
359.5
360.5

168.2
173.6
179.1

362.6
357.1
354.0

87.4
85.1
83.1

450.0
442.2
437.1

676.0
688.9
695.2

385.4
395.4
403.3

1061.3
1084.3
1098.6

587.7
576.1
569.2

455.0
443.0
432.7

1042.6
1019.2
1001.9

360.0
363.7
358.0

182.4
188.2
185.3

346.4
341.6
337.0

81.4
79.0
76.1

427.8
420.6
413.1

687.3
690.3
690.5

393.3
395.8
396.9

1080.6
1086.1
1087.4

578.3
575.9
574.3

445.4
443.0
441.1

1023.8
1019.0
1015.4

363.5
363.8
363.4

189.5
194.2
178.0

342.3
341.9
340.8

79.7
79.1
78.4

422.0
421.0
419.3

1992-JAN.
FEB.
MAR. P
Week ending
1992-FEB. 10
17
24
MAR.

690.1
693.8
695.8
695.3
696.7

398.6
401.4
403.1
404.5
405.2

1088.7
1095.2
1098.9
1099.8
1101.9

573.0
571.3
569.5
568.0
567.1

439.3
437.2
434.4
431.4
427.1

1012.3
1008.5
1003.8
999.4
994.2

363.9
360.2
358.3
357.8
354.8

190.1
182.1
187.4
183.9
187.2

338.9
338.6
336.6
336.8
336.0

78.0
,77.3
76.5
75.2
75.0

417.0
415.9
413.1
412.0
411.0

APR.

1.
2.
3.
4.

2
9
16
23
30p
6p

700.4

406.9

1107.3

567.9

423.6

991.4

352.4

179.8

332.4

74.7

407.2

Savings deposits include money market deposit accounts.
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.
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 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars> seasonally adjusted
Debt components 4

Non-M3 Components of L
Savings
bonds

Short-term
Treasury
securities1

Bankers
acceptances2

1990-NOV.
DEC.

125.2
126.0

330.3
332.7

33.8
34.0

1991-JAN.
FEB.
MAR.

126.9
127.9
129.0

330.5
328.8
323.5

APR.
MAY
JUNE

130.1
131.3
132.4

JULY
AUG.
SEP.
OCT.
NOV.
DEC.

Date

1992-JAN.
FEB. p

1.

Commercial
paper 3

Federal
debt

Non-Federal
debt

355.2
359.3

2470.9
2493.6

8239.2
8256.3

35.3
34.6
32.1

363.4
357.1
353.8

2509.1
2537.5
2551.5

8269.5
8289.6
8311.8

307.3
299.4
325.1

30.6
29.1
28.1

341.6
327.9
333.0

2547.4
2572.5
2606.7

8337.7
8365.1
8382.2

133.5
134.4
135.2

332.7
330.4
322.9

28.1
27.2
25.8

339.8
336.3
337.7

2633.5
2667.0
2694.4

8392.0
8400.1
8410.5

136.1
137.1
137.9

321.2
323.7
316.2

25.3
24.5
23.3

336.2
337.9
339.7

2723.8
2748.3
2766.0

8422.5
8439.6
8450.3

138.9
140.1

311.5
325.6

23.2
22.8

334.8
327.5

2779.7
2793.4

8458.7
8480.5

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 tunds» 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
Nontransactions
components

Other checkable deposits
At
thrift
institutions5

In M2 6

In M3
only7

Overnight

Total

Overnight
Eurodollars9

206.0
211.5

85.8
85.4

291.8
296.9

2510.8
2507.8

781.6
772.8

60.5
55.0

17.4
19.7

277.4
268.0
270.1

213.6
211.5
215.8

84.2
83.4
85.8

297.7
294.9
301.6

2518.6
2535.0
2553.3

778.4
792.5
783.3

52.0
51.4
49.0

19.9
19.0
20.2

7.5
7.8
8.1

277.7
271.7
279.9

222.6
217.2
222.0

89.2
87.7
89.0

311.8
304.9
311.0

2557.7
2547.0
2549.9

772.2
768.1
757.2

50.0
51.3
52.3

19.6
17.1
15.6

260.8
262.0
261.7

8.5
8.6
8.3

280.9
278.8
278.6

223.1
226.9
230.6

89.0
88.3
88.2

312.1
315.1
318.7

2548.2
2544.6
2536.3

748.0
751.0
741.2

51.1
52.8
51.8

13.8
14.5
14.6

263.1
266.3
270.0

8.0
7.7
7.7

283.7
291.1
303.0

232.0
238.1
244.8

88.6
90.7
91.7

320.6
328.8
336.6

2537.4
2540.5
2535.9

736.9
734.9
729.0

53.2
53.8
53.1

16.3
19.5
22.6

267.8
269.5
271.1

7.8
7.8
7.7

300.0
296.3
302.0

250.7
250.5
254.2

91.7
92.5
95.4

342.4
343.0
349.6

2538.1
2545.8
2543.4

724.6
727.1
719.7

55.3
57.6
53.2

21.9
19.2
19.9

270.4
270.5
268.8

7.8
7.8
7.8

296.0
298.2
294.2

253.1
249.7
249.1

93.9
92.2
91.0

347.0
341.9
340.1

2547.3
2547.2
2544.1

727.2
736.7
714.4

57.9
57.2
58.1

19.4
19.2
17.8

Currency

Travelers
checks2

Demand
deposits3

1990-NOV.
DEC.

245.7
249.5

8.0
7.8

280.6
289.9

1991-JAN.
FEB.
MAR.

249.8
252.6
255.6

7.8
7.8
7.8

APR.
MAY
JUNE

256.0
257.4
259.1

JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1

Date

1992-JAN.
FEB.
MAR. P

At
commercial
banks*

Neek ending
1992-FEB. 10
17
24
MAR.

2
9
16
23
30p

268.8
272.1
271.4
271.0
270.3

7.8
7.8
7.8
7.7
7.7

296.9
302.6
305.7
298.2
300.8

250.7
257.8
254.6
252.3
251.4

93.1
97.2
95.8
94.4
94.2

343.8
355.0
350.4
346.7
345.6

2546.3
2548.8
2545.4
2539.7
2538.4

729.0
720.2
723.1
718.9
716.6

57.2
54.7
52.1
52.0
52.9

19.7
19.6
19.3
19.5
21.2

APR.

6p

273.5

7.7

313.5

262.3

101.3

363.6

2545.5

701.2

54.0

20.9

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 foreian-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 NOM and ATS balances at commercial banks> U.S. branches and agencies of foreiqn banks> and Edge Act corporations.
5.
Consists of NOH 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)> savings deposits (including money market
deposit accounts) 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
Savings deposits 1
At
At
commercial
thrift
banks
institutions

Date

Large-denomination time deposits3

Small-denomination time deposits2
Total

At
commercial
thrift
banks
institutions

Total

General purpose InstitutionAt
At
and broker/dealer only money commercial
thrift
money market funds market funds
banks*
institutions

Total

1990-NOV.
DEC.

578.3
580.0

342.0
337.7

920.2
917.7

598.0
606.3

570.1
562.2

1168.1
1168.5

344.5
346.8

128.4
134.4

378.8
373.0

125.2
120.6

504.0
493.5

1991-JAN.
FEB.
MAR.

581.1
587.4
598.4

336.8
338.7
345.4

917.9
926.1
943.7

612.1
617.8
619.9

560.5
554.8
546.7

1172.6
1172.5
1166.6

356.2
365.9
373.8

142.5
152.1
153.1

376.6
383.9
382.6

116.7
114.1
110.9

493.3
498.0
493.5

APR.
MAY
JUNE

604.9
609.3
620.0

351.4
356.4
361.1

956.4
965.8
981.1

617.1
614.2
615.7

541.7
533.5
521.0

1158.8
1147.7
1136.7

373.0
365.1
364.2

153.9
155.6
152.3

378.4
380.4
379.1

107.7
104.6
100.7

486.1
485.0
479.9

JULY
AUG.
SEP.

626.1
631.9
635.8

364.7
364.6
365.1

990.9
996.5
1001.0

617.3
620.8
619.1

511.9
499.3
491.2

1129.2
1120.0
1110.3

363.3
360.7
358.7

151.5
156.2
157.4

373.5
373.8
369.7

97.3
93.9
90.8

470.8
467.8
460.5

OCT.
NOV.
DEC.

644.6
655.3
662.4

368.7
373.2
376.3

1013.3
1028.5
1038.7

615.2
606.9
598.7

482.0
473.2
464.6

1097.1
1080.1
1063.4

357.4
358.6
358.1

163.4
172.7
180.3

362.8
356.9
352.8

87.4
85.1
82.8

450.2
441.9
435.5

672.3
685.2
696.8

383.3
393.3
404.2

1055.6
1078.5
1101.1

589.5
577.6
569.4

456.4
444.2
432.8

1045.9
1021.7
1002.3

359.5
368.8
366.9

188.1
196.9
191.4

344.0
340.5
337.4

80.8
78.8
76.2

424.8
419.3
413.6

683.8
686.9
686.4

391.3
393.8
394.6

1075.1
1080.7
1081.0

580.3
577.6
575.3

446.9
444.3
441.9

1027.2
1021.9
1017.3

367.6
368.2
369.9

198.8
203.1
185.8

341.1
341.1
340.1

79.4
78.9
78.3

420.5
420.0
418.3

1992-JAN.
FEB.
MAR. P
Neek ending
1992-FEB. 10
17
24
MAR.

2
9
16
23
30p

687.7
694.9
698.2
696.6
698.7

397.3
402.0
404.5
405.2
406.4

1084.9
1096.8
1102.7
1101.8
1105.0

573.8
571.8
569.6
567.8
567.4

439.9
437.6
434.5
431.2
427.4

1013.7
1009.4
1004.1
999.0
994.8

370.8
368.3
367.2
367.4
364.4

199.5
188.5
194.1
190.6
191.3

338.2
339.0
337.6
337.5
336.2

77.9
77.4
76.8
75.4
75.0

416.1
416.3
414.3
412.8
411.2

APR.

6p

707.3

410.9

1118.2

568.1

423.7

991.8

360.7

181.3

333.0

74.9

407.9

Savings deposits include money market deposit accounts.
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.
3,
Largeydenomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, and foreign banks and
4.
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

At
At
commercial
thrift
banks
institutions

Date

Debt components6

Non-M3 Components of L

Term RPs*
Total

Term
Eurodollars2

Savings
bonds

Short-term
Treasury
securities3

Bankers
acceptances4

Commercial
paper5

Federal
debt

Non-Federal
debt

1990-NOV.
DEC.

53.1
48.1

42.5
41.5

95.6
89.6

67.5
68.7

125.0
125.8

339.6
345.1

34.6
35.7

350.3
355.1

2461.5
2491.3

8220.6
8245.8

1991-JAN.
FEB.
MAR.

48.4
48.5
48.1

40.3
38.2
35.4

88.7
86.7
83.5

69.2
69.8
68.2

126.8
127.9
129.1

339.6
330.3
324.5

36.1
34.3
31.5

367.7
360.3
354.7

2510.8
2540.7
2553.4

8256.0
8256.8
8272.8

APR.
MAY
JUNE

49.1
48.3
49.1

33.1
32.1
29.3

82.2
80.4
78.4

65.2
62.3
61.6

130.4
131.6
132.7

302.8
292.1
313.9

30.1
28.7
27.8

344.5
334.0
334.9

2544.5
2560.6
2586.4

8300.4
8330.5
8352.9

JULY
AUG.
SEP.

49.6
48.9
48.1

29.2
29.4
28.6

78.8
78.4
76.7

62.7
63.6
61.5

133.6
134.3
135.0

324.0
324.9
323.9

27.9
27.2
25.5

338.8
333.1
335.8

2609.3
2642.9
2673.1

8365.5
8372.4
8385.8

OCT.
NOV.
DEC.

48.9
48.0
47.1

26.6
25.6
23.8

75.5
73.7
70.9

62.8
61.9
57.8

135.9
136.8
137.7

325.3
332.7
328.6

25.1
25.2
24.5

331.5
333.8
335.8

2707.6
2740.7
2764.9

8400.3
8416.8
8438.7

48.1
48.6
50.7

22.8
23.4
23.0

70.9
72.0
73.6

56.2
56.2
56.9

138.8
140.1 p

320.3
326.7 p

23.7
22.6 p

338.7
330.4 p

2782.0
2798.2 p

8444.3
8446.3 p

48.2
49.7
48.1

23.3
23.5
23.9

71.5
73.2
72.0

56.6
56.0
54.9

1992-JAN.
FEB.
MAR. P
Heek ending
1992-FEB. 10
17
24
MAR.

2
9
16
23
30p

48.7
48.7
51.0
51.7
51.8

23.3
24.3
24.0
22.9
20.7

71.9
73.0
75.0
74.7
72.4

57.3
57.2
56.2
57.0
57.3

APR.

6p

50.5

21.9

72.4

55.3

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 (508)
Table 6

MEMORANDUM ITEMS

10

Billions of dollars> not seasonally adjusted
Demand deposits
at banks due to

Foreign
Foreign
:ommercial
official
c
banks
institutions

Date

IRA and Keogh Accounts

U.S. government deposits
Time and savinas
deposits due to
foreign banks
and official
institutions

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note balances
at depository
institutions

Total
cash
balance

Time and
savinas
deposits
At
At
at commercial commercia 1
thrift
banks
banks
institutions

At
money
market
funds

Total

1990-NOV.
DEC.

9.2
9.0

1.5
1.5

5.9
4.1

5.8
5.0

5.6
5.2

15.4
18.1

24.8
28.2

1.4
1.4

128.6
150.5

155.8
155.4

41.8
43.5

304.2
507.0

1991-JAN.
FEB.
MAR.

9.5
8.2
8.0

1.6
1.6
1.6

4.5
5.1
5.7

4.9
4.2
5.1

7.8
11.5
6.8

24.5
55.1
25.5

57.2
50.8
55.1

1.5
1.5
1.5

152.1
155.6
155.5

155.5
154.0
154.5

45.5
45.5
44.0

509.1
511.1
513.8

APR.
MAY
JUNE

8.5
8.2
7.6

1.5
1.5
1.5

6.0
6.2
6.5

5.4
5.6
5.0

4.7
5.6
6.5

15.0
16.2
18.6

25.1
25.4
29.9

1.5
1.4
1.5

157.5
158.9
140.5

155.2
155.5
155.4

44.5
44.9
45.9

316.7
319.5
519.6

JULY
AUG.
SEP.

8.0
7.9
7.8

1.5
1.5
1.5

6.5
6.5
6.6

5.7
3.6
5.2

6.6
5.8
7.8

17.1
15.5
21.7

27.5
22.9
54.7

1.6
1.5
1.5

141.8
145.1
144*4

154.6
153.2
131.6

42.2
42.8
45.3

518.5
519.1
319.4

OCT.
NOV.
DEC.

7.7
7.9
8.1

1.5
1.5
1.7

6.7
6.7
6.6

5.6
4.4
4.8

5.7
6.0
7.4

25.6
24.2
20.5

54.4
54.6
52.8

1.5
1.6
1.5

145.9
147.0
147.7

131.2
131.2
131.2

43.4
43.0
42.3

320.5
321.5
521.2

8.5
7.6
7.6

1.7
1.6
1.5

6.6
6.6
6.5

5.2
4.5
4.1

7.4
6.2
5.6

27.9
20.9
15.9

40.5
51.5
25.6

1.8
2.0
2.2

148.5
148.4
147.8

131.1 e
130.4 e
129.9 e

42.2 e
42.5 e
42.5 e

521.6 e
521.5 e
520.1 e

7.6
7.2
7.9

1.8
1.4
1.5

6.6
6.6
6.6

5.6
4.1
4.5

6.9
5.9
5.5

25.5
20.7
16.8

55.9
50.7
26.5

1.9
1.9
2.0

1992-JAN.
FEB.
MAR. P
Neek ending
1992-FEB. 10
17
24
MAR.

2
9
16
25
50p

7.4
7.4
7.2
7.5
8.1

1.5
1.4
1.8
1.4
1.5

6.6
6.5
6.5
6.5
6.6

4.7
5.5
6.0
5.1
5.4

5.5
5.8
5.6
5.8
5.5

14.7
14.5
12.7
22.5
15.4

24.7
25.7
24.5
51.4
24.1

2.0
2.2
2.2
2.2
2.2

APR.

6p

8.5

1.7

6.5

4.6

5.2

9.7

19.4

2.4

e—indicates estimated data,
p—indicates preliminary data.




H.6 (508)
Special Supplementary Table

Monthly Survey of Selected Deposits1
February 26,1992 and March 25,1992
(not seasonally adjusted)

Insured Commercial Banks
Amount Outstanding ($mil.)
Change
(percent)

Average Rate Paid (%)
Feb. 26

Mar. 25

Change
(b.p.)

Liability Categories

Feb. 26

Mar. 25

NOW Accounts

246,684

250,993

L75

324

307

-7

680,544
531,782

691,541
540,256

1.62
1.59

3.78
N.A.

3.74
N.A.

-4
N.A.

N.A.

N.A.

Savings Deposits
Personal

2

148,763

151,285

1.70

N.A.

47,024

46,918

-0.23

3.77

3.78

152,998
195,812

149,373
193,784

-2.37
-1.04

4.00
4.22

4.01

169,485
155,574

167,289
154,692

-1.30
-0.57

4.60

2-V2 years and over

5.36

4.69
5.49

1
1
1
9
13

All IRA/Keogh Plan deposits3

147,994

147,664

-0.22

N.A.

N.A.

N.A.

Nonpersonal
Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:
7 to 91 days
92 to 182 days
183 days to 1 year
1 to 2-V2 year

4.23

BIF-insured Savings Banks 4
Amount Outstanding ($mil.)
Liability Categories
2

Interest-bearing time deposits with
balances of less than $100,000
with original maturies of:
7 to 91 days
92 to 182 days
183 days to 1 year
1 to 2-V2 year
2-V2 years and over
All IRA/Keogh Plan deposits3

Mar. 25

9,456

NOW Accounts
Savings Deposits
Personal
Nonpersonal

Change
(percent)

Feb. 26

9,805

3M

75,756
72,825
2,931

77,602
74,729
2,874

4,245
21,173
26,440

4,151
21,170
26,398

25,122
20,566
23,254

Average Rate Paid (%)
Change
(b.p.)

Feb. 26

Mar. 25

3~M

3^60

-8

2.44
2.61
-1.96

4.30
N.A.
N.A.

4.24
N.A.
N.A.

N.A.
N.A.

-2.22

4.17

4.11

-0.01
-0.16

4.25
4.38

4.20
4.35

24,143
19,738

-3.90
-4.03

4.63
5.54

4.69
5.63

-6
-5
-3
6
9

23,327

0.32

N.A.

N.A.

N.A.

-6

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.