Full text of H.6 Money Stock Measures : April 29, 1993
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*o^ G o^ FEDERAL RESERVE statistical release **L RE" H.6 ( 5 0 8 ) Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES APRIL 29, 1993 Billions of dollars Date Ml 1 M22 DEBT 5 M3 3 Seasonally adjusted 1991-APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 841.3 849.1 857.6 861.8 867.9 872.4 879.5 891.0 899.3 3396. 3407. 3416. 3415. 3417. 3418. 3422. 3435.8 3445.8 4165 4166 4167 4160 4156 4150 4155 4162.8 4168.1 4972. 4959, 4983. 4994. 4983. 4968. 4972. 4983. 4982. 10888. 10941. 10993. 11025, 11062. 11094. 11131. 11169. 11192. 1992-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 911.5 926.2 935.1 941.2 952.2 952.6 963.3 975.5 990.1 1005.9 1019.1 1026.6 3451.0 3467.7 3467.8 3464.8 3467.5 3462 3463 3472 3480 3491 3498 3497 4172.2 4189.0 4184.9 4177.9 4179.8 4170.1 4169.0 4178.7 4182.9 4179.8 4178.4 4166.4 4978. 4999. 5010. 5009. 5011. 5014.8 5012.5 5025.8 5037.2 5041.9 5055.3 5051.4 11227. 11278. 11338. 11393. 11441. 11493. 11537.8 11584.5 11624. 11652. 11707. 11768. 1993-JAN. FEB. MAR. 1033.2 1032.8 1034.9 3486.9 3475.1 3473.2 4140.6 4133.5 4128.8 5029.4 5025.6 p 11800.0 11843.0 p Not seasonally adjusted 1991-APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 852.9 841.4 857.7 861.9 864.2 866.9 874.8 893.1 916.4 1992-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 1993-JAN. FEB. MAR. 3414. 3392. 3411. 3414. 3413. 3407. 3417. 3438, 3457. 4180.0 4154.2 4163.4 4157.1 4157.8 4140.7 4145.7 4167.7 4178.1 4986. 4939. 4971. 4980. 4975. 4959. 4961. 4994, 5004. 10847.4 10894.3 10944.2 10977.4 11017.8 11061.2 11106.1 11147.9 11182.8 917.3 916.0 930.5 954.7 943.9 951.9 962.5 970.4 982.8 1000.9 1021.5 1045.7 3456.0 3462.3 3474.8 3486.5 3452.5 3457.2 3461.0 3466.8 3467.8 3485.7 3500.8 3511.2 4174.1 4186.5 4195.2 4195.0 4167.1 4165.0 4163 4178 4171 4169 4183 4178 4993.2 4999.6 5023.4 5024.9 4988.0 5001.9 4996.2 5015.8 5026.6 5031.1 5068.3 5076.3 11214.5 11247.2 11298.9 11350.2 11392.8 11444.4 11492..5 11546..6 11597..7 11631..1 11689..9 11760..6 1040.1 1022.0 1030.4 3492.7 3469.1 3480.1 4143.2 4130.9 4138.7 5046.2 5025.9 p 11787.2 11811.8 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 Debt] 3 Months from DEC. 1992 TO MAR. 1993 3.2 -2.7 -3.6 4.6 6 Months from SEP. 1992 TO MAR. 1993 9.0 -0.4 -2.6 4.5 12 Months from MAR. 1992 TO MAR. 1993 10.7 0.2 -1.3 5.0 JAN. 18, 1993 (13 weeks previous) 4.8 -2.3 -3.4 OCT. 19, 1992 (26 weeks previous) 10.3 -0.1 -2.3 APR. 20, 1992 (52 weeks previous) 11.2 0.3 -1.3 Thirteen weeks ending APRIL 19, 1993 from thirteen weeks ending: Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, November 1992 to February 1993, August 1992 to February 1993, and February 1992 to February 1993, 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 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 floatj and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NOH) and automatic transfer service (ATS) accounts at depository institutions, credit union share 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 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 foreiqn branches of U.S. banks worldwide and at all banking offices in the United Kinqdom 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-ehd basis and include discontinuities. H.6 ( 5 0 8 ) Table 3 MONEY STOCK MEASURES B i l l i o n s of d o l l a r s Seasonally adjusted Ml Period ending 13-week average 4-week average 1993-JAN. 25 1025.1 1032.0 M3 M2 week average 13-week average 4-week average 1033.8 3495.1 3488.3 week average 13-week average 4-week average week average 3484.5 4163.7 4139.8 4131.5 FEB. 1 8 15 22 1026.6 1027.6 1028.6 1029.7 1033.3 1032.9 1032.4 1032.6 1034.5 1030.0 1031.2 1034.6 3493.5 3491.5 3489.6 3488.2 3485.6 3481.3 3477.4 3475.5 3477.7 3473.7 3473.7 3477.0 4160.4 4156.3 4153.4 4149.7 4138.4 4135.5 4132.9 4133.0 4136.0 4125.4 4138.6 4132.1 MAR. 1 8 15 22 29 1030.8 1031.4 1031.9 1032.7 1033.2 1033.0 1033.7 1033.9 1034.4 1034.5 1036.0 1032.8 1032.0 1036.9 1036.3 3486.5 3484.6 3482.4 3480.4 3478.8 3475.2 3475.5 3475.0 3473.6 3473.3 3476.4 3474.9 3471.6 3471.5 3475.0 4146.5 4142.6 4138.7 4135.6 4134.1 4133.2 4133.9 4131.5 4129.9 4128.9 4136.6 4128.3 4128.8 4126.0 4132.6 APR. 5 12p 19p 1034.2 1035.1 1035.5 1036.7 1039.6 1040.1 1041.7 1043.6 1038.7 3477.9 3476.9 3475.3 3473.7 3475.3 3474.5 3476.8 3477.7 3468.3 4133.1 4133.3 4132.1 4129.1 4131.6 4133.4 4128.9 4138.7 4133.4 Not seasonally adjusted Ml Period ending 13-week average 4-week average 1993-JAN. 25 1035.7 1048.6 M2 week average 13-week average 4-week average 1016.8 3503.9 3503.2 M3 week average 13-week average 4-week average week average 3463.9 4171.3 4149.5 4111.3 FEB. 1 8 15 22 1036.2 1036.4 1036.2 1036.7 1034.3 1025.6 1021.0 1021.0 1014.5 1027.8 1024.9 1016.8 3501.2 3498.3 3495.3 3493.7 3486.1 3473.1 3466.7 3467.0 3456.2 3474.1 3472.7 3465.1 4167.1 4162.1 4158.4 4154.5 4137.3 4127.5 4124.2 4127.0 4116.4 4126.9 4142.1 4122.5 MAR. 1 8 15 22 29 1036.5 1036.1 1035.5 1034.1 1032.0 1022.3 1025.1 1027.2 1029.3 1029.5 1019.8 1038.7 1033.4 1025.1 1020.6 3491.8 3489.4 3486.9 3484.3 3482.0 3469.8 3473.9 3477.4 3478.9 3479.4 3467.2 3490.4 3487.0 3471.0 3469.1 4151.0 4147.3 4143.9 4140.5 4138.0 4131.3 4136.4 4138.7 4140.0 4138.8 4133.6 4147.5 4151.0 4127.9 4128.7 APR. 5 12p 19p 1031.1 1031.6 1033.5 1034.9 1043.8 1054.4 1060.3 1069.1 1067.4 3481.0 3480.9 3481.4 3484.8 3494.2 3502.8 3512.0 3524.6 3505.5 4137.4 4138.7 4139.5 4141.1 4149.3 4158.6 4156.8 4183.6 4165.3 Note: S p e c i a l c a u t i o n should be taken in i n t e r p r e t i n g week-to-week changes i n money supply data* which are h i g h l y v o l a t i l e and subject to revision. p—indicates preliminary data. H.6 ( 5 0 8 ) Table 4 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Nontransactions components Other checkable deposits Date Currency 1 Travele s checks Demand deposits3 :£ At commercial banks4 At thrift institutions 5 Total In M 2 6 In M3 only7 1991-NOV. DEC. 265.8 267.2 7.6 7.8 287.4 290.5 239.6 242.3 90.6 91.6 330.2 333.8 2544.8 2546.6 727.0 722.3 1992-JAN. FEB. MAR. 269.0 270.8 271.9 7.7 7.7 7.7 296.3 303.3 308.0 245.9 249.9 252.1 92.7 94.4 95.5 338.6 344.3 347.5 2539.5 2541.5 2532.7 721.2 721.3 717.1 APR. MAY JUNE 273.6 275.1 276.6 7.7 7.7 7.7 310.8 314.7 312.3 253.4 258.8 259.1 95.7 96.0 96.8 349.0 354.7 355.9 2523.7 2515.3 2509.5 713.1 712.3 708.0 JULY AUG. SEP. 279.5 282.4 286.3 7.7 7.8 8.1 317.5 322.5 329/. 0 261.1 264.1 266.6 97.5 98.7 100.1 358.6 362.8 366.7 2500.4 2496.9 2490.2 705.4 706.3 702.7 OCT. NOV. DEC. 288.0 289.8 292.3 8.3 8.2 8.1 336.0 339.5 340.9 271.9 278.7 281.2 101.9 103.0 104.0 373.7 381.6 385.2 2485.5 2478.9 2470.4 688.4 680.4 669.5 1993-JAN. FEB. MAR. 294.8 296.9 299.0 8.0 8.0 8.0 341.9 341.9 342.0 283.4 283.2 283.9 105.1 103.0 102.1 388.5 386.1 386.0 2453.8 2442.3 2438.3 653.7 658.4 655.6 297.2 8.0 343.5 283.0 102.8 385.9 2442.4 655.1 1 8 15 22 29 298.4 298.0 298.5 299.6 300.6 8.0 8.0 8.0 8.0 8.0 e e e e 344.1 342.2 340.7 342.4 341.3 283.5 283.2 283.1 283.8 285.1 102.1 101.5 101.6 103.0 101.3 385.6 384.7 384.8 386.8 386.4 2440.4 2442.2 2439.7 2434.6 2438.6 660.2 653.3 5 12p 19p 300.7 300.9 301.0 8.1 e 8.1 e 8.1 e 345.4 348.2 345.4 285.0 283.6 281.5 102.5 102.8 102.9 387.5 386.4 384.3 2435.1 2434.0 2429.6 652.1 661.1 665.1 Neek endii~ig 1993-FEB. 22 MAR. APR. 1. 2. 657.1 654.5 657.7 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 overnight 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 overnight RPs and Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted as a whole. e—indicates estimated data. p--indicates preliminary data. H.6 (508) Table 4-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Savings deposits 1 At At thrift cjommerciail institutions banks Date Small-denomination time deposits2 Total At At commercial thrift banks institutions Total Large-denomination time deposits 3 General purpose and broker/dealer money market funds Institutiononly money market funds A?~ At commercial thrift banks^ institutions Total 1991-NOV. DEC. 656.3 666.2 372.1 376.3 1028.5 1042.5 609.7 601.5 471.6 463.2 1081.4 1064.7 362.3 363.9 175.4 182.1 346.2 341.3 85.3 83.4 431.6 424.7 1992-JAN. FEB. MAR. 677.2 689.0 695.6 383.1 391.7 398.7 1060.3 1080.7 1094.3 589.1 578.6 571.2 453.9 442.9 432.8 1043.0 1021.5 1004.0 360.3 362.3 358.0 186.1 192.0 192.2 336.9 333.7 330.0 82.0 79.9 77.4 418.9 413.6 407.4 APR. MAY JUNE 703.9 709.3 713.3 403.6 410.3 412.7 1107.5 1119.6 1126.0 567.9 560.0 552.9 418.2 409.6 402.8 986.1 969.6 955.7 354.5 354.9 353.5 195.9 202.2 206.3 326.6 323.0 317.7 75.5 73.0 71.7 402.1 395.9 389.3 JULY AUG. SEP. 719.5 727.6 737.2 415.0 418.2 421.7 1134.5 1145.7 1158.9 544.6 535.6 527.5 396.9 391.3 385.2 941.5 926.9 912.7 350.4 348.9 343.9 212.5 220.9 220.7 311.0 307.8 303.5 71.5 70.3 70.2 382.5 378.1 373.7 OCT. NOV. DEC. 746.1 752.5 756.1 424.4 427.9 429.9 1170.5 1180.4 1186.0 519.9 511.9 507.0 376.6 369.9 363.2 896.5 881.7 870.2 346.3 343.7 342.3 210.9 209.2 202.3 296.8 292.8 290.2 70.2 68.5 67.3 367.0 361.3 357.5 1993-JAN. FEB. MAR. 754.1 755.8 754.0 430.3 426.7 425.0 1184.4 1182.5 1179.0 502.8 504.1 503.0 358.2 351.0 347.3 860.9 855.1 850.3 339.6 333.6 333.1 197.7 201.9 200.5 283.7 280.8 276.3 67.1 65.5 64.5 350.7 346.3 340.9 757.2 426.5 1183.7 503.8 350.7 854.5 333.4 200.5 280.1 65.2 345.3 Week ending 1993-FEB. 22 MAR. 1 8 15 22 29 755.1 755.4 754.1 753.2 754.1 425.6 424.9 424.3 425.3 425.7 1180.7 1180.2 1178.4 1178.4 1179.8 504.1 504.8 503.9 502.6 501.1 349.4 347.8 347.6 347.2 346.6 853.5 852.6 851.4 849.9 847.8 333.9 334.5 333.5 333.5 331.6 205.6 197.6 202.2 200.1 200.5 278.3 278.6 277.4 275.0 274.2 65.1 64.9 64.6 64.3 64.2 343.4 343.5 342.0 339.3 338.5 APR. 5 12p 19p 753.9 756.1 754.4 425.3 424.0 424.7 1179.2 1180.1 1179.1 500.5 500.0 498.5 345.3 345.1 344.5 845.8 845.1 842.9 330.1 330.9 330.9 203.0 196.7 198.8 276.3 276.5 282.2 64.6 64.6 64.8 340.9 341.1 347.0 1. 2. 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. 3. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities. 4. Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, and foreign banks and official institutions. p—indicates preliminary data. 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 Savings bonds Short-term Treasury securities1 Bankers acceptances2 1991-NOV. DEC. 137.1 138.0 322.7 315.0 24.5 23.4 1992-JAN. FEB. MAR. 139.0 140.2 141.3 311.9 320.0 325.1 APR. MAY JUNE 142.4 143.5 144.6 JULY AUG. SEP. OCT. NOV. DEC. Date 1993-JAN. FEB. p 1. Commercial paper3 Federal debt Non-Federal debt 336.2 337.7 2742.3 2764.8 8427.4 8428.0 22.9 22.6 22.2 332.3 327.3 336.7 2782.6 2801.8 2841.7 8444.5 8477.1 8497.0 325.9 329.4 330.1 21.8 22.0 22.0 341.0 336.4 348.1 2877.3 2908.5 2943.8 8516.1 8532.8 8549.7 145.8 147.4 149.3 324.8 322.9 320.9 21.7 21.1 20.7 351.2 355.7 363.4 2968.2 2991.6 3004.1 8569.6 8592.9 8620.6 151.9 154.7 156.8 321.6 329.6 339.4 20.5 20.3 20.4 368.0 372.4 368.4 3001.4 3027.6 3068.8 8650.8 8679.9 8699.4 158.9 161.1 346.4 353.0 20.6 18.8 363.0 359.3 3076.3 3090.0 8723.7 8753.0 Consistsof U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal Reserve Banks, money market mutual funds, and foreign entities. Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds. 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. 2. H.6 ( 5 0 8 ) Tab? : 5 CO 1PONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Bill ons of dollars, not seasonally adjusted Nontransactions components Other checkable deposits Date Currency 1 Travelers checks 2 Demand deposits3 At commercial banks 4 At thrift institutions5 Total In M 2 6 In M3 only 7 Overnight RPs 8 Overnight Eurodollars9 1991-NOV. DEC. 266.3 269.9 7.3 7.4 290.9 302.9 238.2 244.9 90.4 91.4 328.6 336.3 2545.3 2541.5 729.3 720.1 54.3 53.7 19.5 22.6 1992-JAN. FEB. MAR. 267.8 269.4 271.0 7.4 7.5 7.4 299.9 296.4 302.6 250.7 250.4 254.1 91.4 92.3 95.4 342.2 342.7 349.5 2538.7 2546.3 2544.3 718.1 724.3 720.4 55.9 58.3 54.1 21.9 19.6 20.6 APR. MAY JUNE 273.3 275.7 277.2 7.3 7.4 7.8 313.8 308.3 311.4 261.3 255.7 257.7 98.9 96.8 97.8 360.2 352.5 355.5 2531.8 2508.6 2505.3 708.6 714.6 707.8 53.4 50.8 52.7 19.3 18.7 19.8 JULY AUG. SEP. 280.8 282.9 284.6 8.2 8.4 8.5 317.7 319.8 326.1 257.7 260.8 264.0 98.2 98.4 99.6 355.9 359.2 363.6 2498.5 2496.4 2485.0 702.5 711.6 703.5 53.4 59.4 56.1 19.4 16.8 17.7 OCT. NOV. DEC. 287.0 290.0 295.0 8.4 7.9 7.8 336.7 343.9 355.3 268.1 277.0 284.0 100.8 102.7 103.7 368.8 379.7 387.7 2484.8 2479.3 2465.5 684.2 682.9 667.3 55.1 54.2 52.5 19.9 20.9 21.3 1993-JAN. FEB. MAR. 293.6 295.3 297.9 7.8 7.7 7.8 346.2 334.3 336.3 289.1 284.0 286.4 103.5 100.6 102.1 392.6 384.6 388.5 2452.6 2447.2 2449.6 650.5 661.7 658.7 54.5 56.0 58.2 17.8 16.8 15.6 Week ending 294.8 7.8 332.8 282.4 99.1 381.4 2448.3 657.4 56.6 16.8 1 8 15 22 29 294.8 298.4 297.9 298.3 297.7 7.8 7.8 7.8 7.8 7.8 e e e e 334.4 338.4 339.1 332.7 331.3 283.2 290.5 286.6 285.0 283.2 99.7 103.7 102.0 101.4 100.6 382.9 394.2 388.6 386.4 383.7 2447.3 2451.7 2453.6 2445.9 2448.5 666.4 657.1 664.0 656.9 659.6 57.1 57.8 59.1 55.9 59.4 17.8 14.5 14.9 15.3 17.2 5 12p 19p 300.8 302.6 301.1 7.7 e 7.7 e 7.7 e 350.6 355.3 355.1 293.4 295.2 296.2 107.7 108.2 107.3 401.2 403.4 403.5 2451.6 2455.6 2438.1 644.8 659.0 659.7 60.8 57.1 57.6 16.3 15.2 13.3 1993-FEB. 22 MAR. APR. 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 foreiqn-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 NOW and ATS balances at commercial banks, U.S. branches and agencies of foreiqn banks, and Edge Act corporations. 5. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum cf 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 c Date At At thrift ommercial institutions banks Small-denomination time deposits 2 Total At At thrift commercial institutions banks Total Large-denomination time deposits 3 General purpose InstitutionAt At and broker/dealer only money commercial thrift money market funds market funds banks 4 institutions Total 1991-NOV. DEC. 656.2 663.3 372.0 374.7 1028.2 1038.0 610.3 602.0 472.0 463.6 1082.3 1065.6 360.9 361.5 175.5 182.4 346.2 340.1 85.3 83.1 431.5 423.2 1992-JAN. FEB. MAR. 673.4 686.5 698.7 380.9 390.2 400.4 1054.3 1076.7 1099.0 591.1 579.4 570.6 455.4 443.5 432.3 1046.5 1022.9 1002.9 360.0 368.8 367.7 190.8 200.1 194.9 334.6 333.0 330.9 81.4 79.7 77.6 416.1 412.7 408.6 APR. MAY JUNE 708.0 710.0 716.1 406.0 410.7 414.3 1113.9 1120.6 1130.5 566.7 557.7 551.0 417.3 407.9 401.4 984.0 965.6 952.4 361.1 352.9 349.9 194.9 202.3 202.4 325.7 324.8 319.3 75.3 73.4 72.0 400.9 398.2 391.3 JULY AUG. SEP. 721.9 728.2 735.4 416.3 418.5 420.6 1138.2 1146.7 1156.0 544.7 535.8 528.1 397.0 391.4 385.7 941.7 927.2 913.8 345.8 346.2 341.4 209.0 220.6 216.6 310.6 309.1 303.9 71.4 70.6 70.3 382.1 379.7 374.2 OCT. NOV. DEC. 744.4 751.9 752.3 423.4 427.5 427.8 1167.9 1179.4 1180.1 521.1 512.5 507.8 377.4 370.3 363.8 898.6 882.9 871.5 343.4 341.9 340.0 206.3 209.5 202.4 296.0 292.7 289.1 70.0 68.5 67.1 366.0 361.2 356.2 1993-JAN. FEB. MAR. 749.5 753.1 757.5 427.7 425.2 427.0 1177.2 1178.4 1184.5 504.6 504.8 502.3 359.4 351.4 346.8 864.0 856.2 849.1 339.2 339.8 342.2 202.3 210.3 203.2 281.7 280.4 277.2 66.6 65.4 64.7 348.3 345.8 341.9 Neek ending 754.0 424.7 1178.7 504.0 350.9 854.9 341.3 205.6 279.7 65.2 344.9 MAR. 1 8 15 22 29 752.5 757.7 759.4 756.7 756.6 424.1 426.1 427.3 427.3 427.1 1176.6 1183.8 1186.7 1184.0 1183.8 503.9 504.5 503.1 501.6 500.3 349.4 347.6 347.1 346.5 346.1 853.3 852.1 850.2 848.1 846.4 342.6 343.5 342.8 342.6 341.7 213.6 200.8 208.3 202.3 204.6 278.6 279.4 278.4 275.6 275.3 65.1 65.1 64.8 64.4 64.5 343.8 344.5 343.3 340.0 339.8 APR. 5 12p 19p 762.4 768.2 759.9 430.1 430.7 427.9 1192.5 1198.9 1187.8 500.5 499.2 497.3 345.3 344.5 343.6 845.8 843.8 840.9 336.2 340.5 338.6 186.5 201.0 198.6 276.8 276.7 281.2 64.7 64.6 64.5 341.5 341.3 345.7 1993-FEB. 22 Savings deposits include money market deposit accounts. 1. Small-denomination time deposits — includinq retail RPs—are those issued in amounts of less than $100,000. All IRA and Keogh account balances at 2. 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, p- •indicates preliminary data. H.6 (508) Table 5-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Term RPs 1 At At thrift csommercial institutions banks Date Debt components6 Non-M3 Components of L Total Term Eurodollars2 Savings bonds Short-term Treasury securities3• Bankers acceptances4 Commercial paper5 Federal debt Non-Federal debt 1991-NOV. DEC. 50.7 49.3 25.1 23.2 75.7 72.5 61.7 57.6 136.8 137.7 331.5 328.1 25.2 24.5 333.8 335.8 2740.8 2765.0 8407.1 8417.9 1992-JAN. FEB. MAR. 48.9 50.3 52.5 22.1 22.3 21.8 71.0 72.6 74.3 55.7 56.1 58.0 138.8 140.1 141.4 317.9 319.9 327.1 23.7 22.7 21.8 338.7 330.4 338.0 2782.5 2799.1 2834.7 8432.0 8448.0 8464.3 APR. MAY JUNE 53.3 55.6 55.3 20.8 20.8 21.1 74.1 76.4 76.4 54.9 52.8 51.9 142.7 143.9 144.9 321.0 320.0 321.4 21.3 21.6 21.7 345.0 335.4 348.8 2863.5 2884.1 2912.2 8486.8 8508.8 8532.2 JULY AUG. SEP. 53.6 55.5 57.7 21.5 20.2 19.8 75.1 75.7 77.5 51.1 51.4 49.4 146.0 147.4 149.2 315.9 319.2 322.6 21.6 20.9 20.2 349.3 349.9 363.2 2937.5 2970.3 2993.9 8555.0 8576.3 8603.8 OCT. NOV. DEC. 59.3 60.8 60.2 20.3 20.5 20.3 79.5 81.3 80.6 48.1 47.2 45.6 151.8 154.4 156.4 324.4 339.0 353.6 20.4 20.8 21.4 364.7 370.4 366.3 2998.1 3028.3 3069.8 8633.1 8661.7 8690.8 1993-JAN. FEB. MAR. 58.6 60.4 64.2 21.2 22.0 21.9 79.8 82.3 86.1 43.2 45.3 47.3 158.6 161.0 p 353.0 352.6 p 21.5 18.9 p 370.0 362.5 p 3076.2 3087.3 p 8711.1 8724.4 p Week ending 60.9 22.2 83.0 45.7 MAR. 1 8 15 22 29 61.6 62.7 63.3 64.5 66.1 22.0 22.0 21.9 21.7 22.0 83.6 84.7 85.2 86.2 88.1 45.8 47.8 47.4 48.2 46.4 APR. 5 12p 19p 66.8 70.1 67.5 21.9 22.2 22.7 88.8 92.3 90.1 46.4 45.4 45.4 1993-FEB. 22 Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs. Term Eurodollars are those with original maturities greater than one day. Consists of those issued to U.S. residents by foreign branches of U.S. banks world-wide and by all banking offices in the United Kingdom and Canada. Excludes those held by depository institutions and money market mutual funds. Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal Reserve Banks, money market mutual funds, and foreign entities. Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds. Total commercial paper less commercial paper held by money market mutual funds. Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities, -indicates preliminary data. H.6 ( 5 0 8 ) Table 6 MEMORANDUM ITEMS 10 Billions of dollars> not seasonally adjusted Demand deposits at banks due to U.S. government depos;its Time and savinqs deposits due to foreign banks Foreign Foreign and official official ccommercial institutions banks institutions Date Demand deposits at commercial banks Balance at Federal Reserve Note balances at depository institutions Total cash balance IRA and Keogh Accounts Time and savinqs deposits^ At A* at commercial commercia 1 . thrift banks banks institutions At money market funds Total 1991-NOV. DEC. 8.0 8.5 1.5 1.7 7.5 8.0 4.4 4.8 6.0 7.4 24.2 20.5 54.6 52.8 1.6 1.5 147.0 147.7 152.7 152.4 45.0 42.5 522.8 522.4 1992-JAN. FEB. MAR. 8.5 7.8 7.8 1.7 1.5 1.4 8.0 7.4 6.9 5.2 4.5 4.2 7.4 6.2 5.6 27.9 20.9 15.9 40.5 51.5 25.7 1.8 2.0 2.2 148.5 148.4 147.8 152.5 151.5 150.8 45.5 44.6 45.8 524.1 524.5 522.4 APR. MAY JUNE 8.2 8.0 8.1 1.4 1.4 1.5 6.8 7.5 7.8 5.8 4.2 5.2 4.9 5.2 6.7 11.9 16.8 19.9 22.6 26.2 51.8 2.5 2.6 2.6 148.4 148.6 147.9 150.2 129.5 129.0 45.9 45.8 45.1 522.4 521.9 520.1 JULY AUG. SEP. 8.6 7.9 8.5 1.6 1.4 1.7 8.0 7.9 7.8 5.7 5.9 5.4 5.9 5.7 10.6 15.9 18.5 25.2 25.5 28.0 59.2 2.5 2.5 2.5 147.6 147.5 147.6 127.7 125.8 125.0 45.1 45.2 45.0 518.4 516.4 515.5 OCT. NOV. DEC. 8.5 8.5 8.9 1.6 1.6 1.6 7.7 7.7 7.7 4.2 4.1 5.2 5.8 5.5 6.0 17.7 12.4 14.5 27.7 21.9 25.5 2.5 2.7 2.6 147.6 147.2 147.1 124.1 125.1 122.0 44.6 46.2 45.4 516.5 516.5 514.5 1995-JAN. FEB. MAR. 8.7 8.8 8.6 1.4 1.5 1.6 7.7 7.7 6.1 4.5 4.1 7.7 5.9 5.4 27.0 25.2 15.2 40.8 55.4 22.8 2.0 2.5 2.5 147.1 146.9 146.8 121.1 e 120.5 e 119.8 e 45.0 e 45.2 e 45.2 e 515.2 e 512.6 e 511.8 e 7.7 Week ending 9.9 1.4 7.7 4.4 4.8 18.4 27.6 2.5 1 8 15 22 29 8.5 8.8 7.8 8.7 9.0 1.5 1.4 1.7 1.7 1.8 7.7 4.7 5.6 5.5 5.6 5.4 5.5 6.1 5.2 5.5 5.1 15.8 10.5 7.9 20.5 14.8 25.9 20.2 18.7 29.2 25.4 2.4 2.4 2.4 2.4 2.5 5 12p 19p 8.1 8.0 8.0 1.7 2.0 1.6 4.7 4.1 9.2 5.7 5.7 6.5 10.0 5.1 15.7 20.5 12.9 51.2 0.9 0.9 0.9 1995-FEB. 22 MAR. APR. e—indicates estimated data. p--indicates preliminary data. 7.7 7.7 7.7 7.7 7.7 7.7 7.7