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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
M1

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 )
OCT. 1 1 ,

(26 weeks p r e v i o u s )

7 ..5

.
2 ,1

1. .0

APR.

1,

1993
1993

(52 weeks p r e v i o u s )

9 ..8

.3
2,

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

General
purpose and
broker/dealer
money
market funds

Institutiononly money
market funds

Large-denomination time deposits3
At
commercial
banks4

At
thrift
institutions

commercial
banks

At
thrift
institutions

Total

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

Date

™~:

MAR. p

Week e n d i n g
1 9 9 4 - F E B . 14
21
28
MAR.

7
14

21
APR.

1.

2.
3.
4.
p

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

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.

4.
5.

6.
7.

8.

330.5
330.6
330.8
330.8

7.7
7.7
7.8
7.8

APR.

2.
3.

7
14
21
28
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

Total

Institutiononly money
market funds

Large-denomination time deposits 3
At
thrift
institutions
68 . 6
67 . 2

Total
365.0
358.9

MAR.

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.

2

7
14
21
28
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

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

: 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.

62
66
64
65

APR.

1.
2

7
14
21
28
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

U.S. government deposits

Foreign
commercial
banks

Foreign
official
institutions

Time and
savings
deposits due
to foreign
banks and
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

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

8

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

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.

[

1 to 2- /2 year
2-l/2 years mid over
All IRA/Keogh Plan deposits

3

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.