Full text of H.6 Money Stock Measures : April 30, 1992

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.••SSSS&

FEDERAL RESERVE statistical release
These data are scheduled for release each Thursday at 4:30 p.m.
H.6 (508)
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

APRIL 50, 1992

Billions of dollars
Date

Ml»

M22

H33

L«

DEBT 5

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

3344.0
3369.4
3386.9
3394.8
3405.6
3411.8
3407
3409
3411
3417
3431
3439

4125.8
4160.2
4165.9
4168.8
4170.5
4167..7
4157..3
4156..6
4152..6
4158..9
4167..1
4171..4

4981.8
5008.7
5004.2
4978.4
4958.3
4986.4
4991.3
4985.0
4974.2
4977.6
4990.4
4988.5

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.

910.3
930.8
938.6

3448.2
3475.4
3473.6

4175.2
4200.1
4189.8

4983.6
5016.1 p

11238.4
11273.9 p

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.
3266.
3288.
3303.
3315.
3323.
3330.
3336.
3351.

4091.7
4065.2
4080.8
4092.4
4109
4108
4109
4118
4124.7

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
3408
3410
3409
3403
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
4990.9
4943.3
4974.4
4982.9
4979.5
4965.1
4967.4
4997.8
5008.7

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.

918.0
916.6
930.4

3456.2
3462.6
3474.2

4180.3
4189.6
4194.9

5001.7
5009.4 p

11226.3
11244.4 p

Not seasonally adjusted

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

Debt 1

Ml

M2

M3

3 Months from DEC. 1991 TO MAR. 1992

18.0

4.0

1.8

6 Months from SEP. 1991 TO MAR. 1992

15.3

3.6

1.8

3.7

0.6

4.1

12 Months from MAR. 1991 TO MAR. 1992

11.4

2.6

3.1

Thirteen weeks ending APRIL 20, 1992
from thirteen weeks ending:

JAN. 20, 1992 (13 weeks previous)

17.0

4.1

2.1

OCT. 21, 1991 (26 weeks previous)

14.6

3.5

1.7

APR. 22, 1991 (52 weeks previous)

11.3

2.7

0.7

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 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 (OCOs), 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 Ml is calculated by summing currency, travelers checks, demand deposits, and
0CDs ? 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 ins titut ions, 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 ot overnight RPs and Eurodollars
held by mstitution-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 nonfinaneial sectors consists of outstanding credit market debt of the U.S. government, state and local
Governments and private nonfinaneial 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 nonf inane ial
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 ( 5 0 8 )
Table 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjus ted
Ml

Period ending

13-week
average

1992-JAN. 27

4-week
average

M3

M2
week
average

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

898.7

908.7

915.2

3438.4

3446.1

3452.8

4170.0

4172.5

4187.3

FEB.

3
10
17
24

901.4
904.3
907.4
910.5

913.3
918.4
923.7
928.4

921.1
927.1
931.4
934.1

3441.6
3445.1
3448.6
3451.8

3451.8
3459.2
3466.4
3472.5

3462.0
3473.0
3477.7
3477.4

4172.4
4174.8
4178.3
4179.9

4181.4
4187.2
4196.4
4197.6

4189.7
4194.8
4213.6
4192.1

MAR.

2
9
16
23
30

913.5
916.8
920.3
923.4
926.1

931.9
935.0
937.9
938.9
939.0

935.0
939.5
942.9
938.2
935.3

3455.0
3458.4
3461.0
3463.2
3465.2

3476.7
3479.2
3479.5
3477.6
3473.7

3478.7
3483.0
3479.0
3469.8
3462.8

4182.5
4184.7
4186.1
4187.0
4188.0

4201.2
4202.5
4198.8
4197.1
4189.8

4204.1
4200.3
4198.8
4185.0
4175.2

APR.

6
13p
20p

929.0
931.6
934.3

939.3
938.5
940.4

940.7
939.8
945.7

3467.5
3469.5
3471.2

3470.0
3467.7
3468.1

3468.5
3469.7
3471.3

4189.2
4*90.2
4190.3

4182.4
4178.6
4177.1

4170.5
4183.7
4178.8

Not seasonally adjusted
Ml

Period ending

13-week
average

4-week
average

1992-JAN. 27

M2
week
average

13-week
average

4-week
average

M3
week
average

13-week
average

4-week
average

week
average

909.1

921.2

898.9

3447.3

3458.6

3436.8

4176.4

4181.1

4170.2

FEB.

3
10
17
24

910.7
912.8
914.5
916.6

912.5
910.9
911.8
914.8

908.6
921.1
918.5
910.9

3449.3
3451.8
3453.7
3456.0

3452.7
3452.8
3455.2
3459.8

3449.3
3468.6
3465.9
3455.4

4178.1
4179.8
4182.0
4182.6

4182.2
4182.1
4186.8
4186.8

4179.6
4195.0
4202.4
4170.2

MAR.

2
9
16
23
30

917.6
919.3
920.9
921.4
921.7

916.9
921.0
925.2
928.4
930.1

917.2
937.5
935.2
923.5
924.3

3457.9
3459.9
3461.4
3462.6
3464.0

3463.5
3468.0
3471.8
3473.9
3473.7

3464.0
3486.7
3481.1
3463.6
3463.3

4184.0
4185.3
4186.2
4186.8
4187.9

4190.3
4193.5
4194.1
4197.5
4194.5

4193.4
4207.8
4205.1
4183.6
4181.6

APR.

6
13p
20p

922.8
925.5
929.6

935.3
942.2
953.4

958.3
962.5
968.3

3466.5
3469.8
3472.9

3478.2
3485.8
3494.0

3504.8
3511.5
3496.4

4190.4
4192.6
4194.0

4194.4
4199.1
4203.7

4207.4
4223.8
4201.8

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 ( 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

2

Travelers
checks 2

Demand
deposits3

At
commercial
banksA

At
thrift
institutions5

Total

In M2 6

In M3
only 7

1990-NOV.
DEC.

245.4
246.8

8.3
8.3

277.4
277.1

207.0
208.7

85.7
85.2

292.6
293.9

2509.9
2512.9

781.9
775.6

1991-JAN.
FEB.
MAR.

251.5
254.6
256.0

8.3
8.2
8.1

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

APR.
MAY
JUNE

256.3
256.6
257.6

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

JULY
AUG.
SEP.

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

OCT.
NOV.
DEC.

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
732.0

1992-JAN.
FEB.
MAR.

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
96.3

338.9
346.0
349.1

2537.9
2544.6
2535.0

727.0
724.7
716.2

271.6

8.1

308.3

251.3

94.8

346.1

2543.3

714.6

Neek ending
1992-FEB. 24
MAR.

2
9
16
23
30

271.5
271.8
271.9
271.8
271.7

8.1
8.1
8.0
8.0
8.0

308.5
308.9
312.8
309.7
308.4

252.0
254.7
253.3
252.4
250.6

94.8
95.9
96.8
96.3
96.5

346.9
350.7
350.2
348.6
347.1

2543.7
2543.5
2536.1
2531.6
2527.6

725.5
717.3
719.8
715.2
712.3

APR.

6
13p
20p

272.6
273.3
273.8

8.0
8.0 e
8.0 e

308.6
309.3
314.3

254.0
252.0
252.9

97.5
97.1
96.8

351.5
349.1
349.6

2527.8
2530.0
2525.6

702.1
714.0
707.5

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 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 NOW 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 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 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 deposits 3

Small-denomination time deposits2

Total

At
At
commercial
thrift
banks
institutions

Total

At
General purpose InstitutionAt
and broker/dealer only money commercial
thrift
4
banks
money market funds market funds
institutions

Total

1990-NOV.
DEC.

578.3
580.0

342.0
337.7

920.2
917.7

598.0
606.3

570.
562.

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.
356.
361,

956.4
965.8
981.1

617.1
614.2
615.7

541.
533.
521.

1158.8
1147.7
1136.7

373.
365.
364.

153,
155,
152,

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.
364.
365.

990.
996.
1001.

617.3
620.8
619.1

511.
499.
491.

1129.
1120.
1110.

363.
360.
358.

151,
156,
157,

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.
373.
376,

1013,
1028.
1038.

615.2
606.9
598.7

482.0
473.2
464.6

1097.
1080.
1063.4

357.
358.
358.

163,
172,
180,

362.8
356.9
352.8

87.4
85.1
82.8

450.2
441.9
435.5

1992-JAN.
FEB.
MAR.

672.3
685.2
696.8

383.3
393.3
404.3

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
337.3

80.8
78.8
76.2

424.8
419.3
413.5

686.4

394.6

1081.0

575.3

441.9

1017.3

369.9

185.8

340.1

78.3

418.4

370.8
368.3
367.2
367.4
364.4

199,
188.
194,
190.
191,

338
339,
337,
337,
336,

77.9
77.4
76.8
75.4
75.0

416.1
416.4
414.3
412.8
411.3

360,
364,
360

181.3
193.8
188.1

333,
332,
331,

74
74
73

408.
406.
405,

Heek ending
1992-FEB. 24
MAR.

2
9
16
23
30

687.7
694.9
698.2
696.6
698.7

397.
402.
404.
405.
406.

1085.
1096.
1102.
1102.
1105.

573.8
571.8
569.6
567.8
567.5

439.
437.
434.
431.
427.

1013.
1009.
1004.
999.
994.8

APR.

6
13p
20p

707.3
713.0
705.9

411.
412.
409,

1118.
1125.
1115.

568.
566.
566,

424.
420.
415.

992.
987.
982.

1.
2.

Savings deposits include money market deposit accounts.
Small-denomination time deposits—including retail RPs—are :hose 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.
Largeydenomination 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.




(K.4 1508)
Tab!* 5

COMPONENTS OF MONEY STOCK, UQUID ASSETS, ANO DEBT
Millions. of dollars* wot seasonally adjusted
Hontransact ions
components

Other checkable deposits
at
Currency *

Travelers
©nooks" 2

Demand
deposits3

24S.7
8*4 •$

8,0
7.4S

280.4
284.4

284.8
211.$

24$. m
252.*
255.%

7.S
7.8

277.4
2e8«ft
3270.1

254,10
257.**
2S9.1

7.5
7.B
*.l

JULY
All©,

248.a
242. €
241,?

£.5

OCT.

243,1
2-44.3
2 7 8 ,*£

8a%a
1998-M8V.

tec.
ffi8.
HA«
API*.,
•JUNE

It^-JNN.

At
thrift
_
institution**

Total

I n HZ*

I n MS
only7

8S.8
8S.4

291.8
294.9

2310.8
2S07.8

7S1.4
772.8

40.5
55.0

17.4
19.7

213-.4
211 .S
21S.8

84*2
83.*

297.7
294.9
301.6

2518.4
2535.8
2553.3

778.4
792.5
783.3

52.0
51.4
49.0

19.9
19.0
20.2

277.7
271.7
279.9

222.4
217.2
222,8

89.2
87,7
89.8

311.8
384.9
311.8

2557.6
2547.1
2544.4

772.2
748,1
757.2

50.0
51.3
52.3

19.4
17.2
15.4

8.3

380.4
278.8
276.4

223,1
224.9
236.4

84.©
88.3
88.2

312.1
31S.1
318.7

2548.2
2544.4
2534.3

748.0
751.0
741.2

51.1
52.8
51.8

13.8
14.5
14.4

7.7
7.7

'2831.7
291.1
3&3.B

232.%
.238.1
244..S

88.4
98.7
91.7

320.4
328.8
334.3

2537.4
2548.5
2535.9

734.9
734.9
728.9

53.2
53.8
53.1

14.3
19.5
22.4

«S8,7

2s*.s
294.1

91,7
42. S
9S.%

342.4
342.9
3*9.4

2538.1
2544.0
2543.8

724.1
727.0
720.7

55.3
57.4
53.2

21.4
19.4
20.3

#4'? . 8
'264..$
271.1

7.«

7.7

300.8
294,3
»2.8

7.e

^banks**

as.a

Overnight

OvernightEurodollars9

•Ph&ak sending

mt^nei.

2**

248.0

7.S

Z44.2

249.1

91.8

348.1

2544.5

714.8

58.1

18.2

Ma.

2
9
14
23
30

24S.€
272.1
271.**
278.**
27®.3

7,S
7.11
7.7
7.7

294-9
582.*
385.7
29B. 2
30O.fi

2».a
2S7.8
254.4
2S2.3
2&X.4

93.1
9?-.2
93.8
94.3
94.1

343.8
35S.8
550.4
344.4
343.5

2544.8
2549.3
2545. f
2548.2
2539.0

729.4
721.1
724.0
720.0
718.3

57.2
54.7
52.1
52.0
52.9

20.1
20.0
19,7
19.9
21.4

175.5
274,3
273.^

7.7
7.7 a
7.4 m

315.9
315,9
519,4

842.1
243.9
£47.0

181,2

343.3

ISp
2Qp

2544.4
2549.1
2528.1

702.4
712.2
705.4

54.0
52.8
51.3

21.2
20.0
18.4

mm.

1.
2*

188.8

-(Xrr***ancy
outside 41,3. Traaaurv Federal 8asan#a Banks -and fha vaults of depository institutions.
fk*fbsta*ali)ng
amount* of U.S. dal
~ m "
*
^ina%ad travalars -checks of nenbenk issuers. Travelers chocks issued by dapository institutions ara
included in demand deposits.
%* Oaaatnd deposits at comwarcial banks and foreiorv*related institutions other than those due to depository institutions» tha U.S. government
and foreicm banks and official institutions* lass cash items in the process of collection and Federal nm&mrvm float.
*.
Consists of WON and ATS balances at commercial banks* U.S. branches and agencies of foreign banks» and Edge Act corporations.
5,
Consists of HON and ATS balances at thrifts, credit -union share draft balances* and demand deposits at thrifts.
*-,
§ut* of overni^hi KPs and Eurodollar's, money market fund balances 4 general purpose and broker/dealer 1» savings deposits C including money market
deposit accounts! and swall tiaie deposits.
1.
Sum of large time deposits* term HPs and Eurodollars of U.S. r«sidents# money market fund balances (institution-only), lass the estimated
amount «/f overoigM MPs and Eurodollars held by institution-only money market mutual funds.
6.
Consists -of overnight and continuing contract fePs 'issued by all depository institutions to other' than depository institutions and money market
mutual funds fgeneral purpost? and broker/dealer K
4.
Issued by foreign brafmibes of U.S. banks worlcWid^ to U.$« residents other than depository institutions and money market mutual funds
Igeneral purpose and broker/dealer I.
&—~ indicates astiajated data.
tj~~ indicates praliatinary data.



H.6 (508)
Table 4-continued

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

Non-M3 Components of L
Savings
bonds

Short-term
Treasury
securities1

Bankers
acceptances2

199G-M0V.
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.

1.

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,
299.
325.

30.
29.
28.

341.
327,
333.

2547,
2572.
2606.

8337.7
8365.1
8382.2

133.5
134.4
135.2

332.
330.
322.

28.
27.
25.8

339.
336.
337,

2633.
2667.
2694.

8392.©
8400.1
8410.5

136.
137.
137.

321.
323.
316.

25.3
24.5
23.3

336.
337.
339,

2723.
2748.
2766.

8422oS
8439*6
8450.3

138.9
140.1

311.5
325.6

23.2
22.9

334.8
327.5

2779.7
2793.4

8458.7
8480.5

Commercial
paper 3

Federal

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 Banksa
&rtd 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 r«
di scoot inui t ies.
p~-indicates preliminary data.
2.




H.6 (508)
Table ^-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Savings deposits 1
At
At
commercial
thrift
banks
institutions

Date

Large-denomination time deposits 3

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
442.3
437.1

1992-JAN.
FEB.
MAR.

676.0
688.9
695.2

385.4
395.5
403.4

1061.4
1084.4
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
336.9

81.4
79.0
76.1

427.8
420.6
413.0

Meek ending
1992-FEB. 24

690.5

396.9

1087.4

574.3

441.1

1015.4

363.4

178.0

340.8

78.4

419.3

MAR.

2
9
16
23
30

690.1
693.8
695.8
695.4
696.7

398.6
401.4
403.1
404.6
405.3

1088.7
1095.2
1098.9
1099.9
1102.1

573.0
571.3
569.4
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
336.1

78.0
77.3
76.5
75.2
75.0

417.0
415.9
413.1
412.0
411.1

APR.

6
13p
20p

700.4
704.8
704.5

407.0
407.4
408.7

1107.4
1112.2
1113.2

567.9
567.4
567.6

423.9
420.5
416.1

991.7
987.9
983.7

352.4
353.7
353.4

179.8
189.6
187.0

332.6
332.9
333.7

74.8
74.2
73.7

407.3
407.1
407.4

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,
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
commercial
thrift
banks
institutions

Date

Debt components6

Non-M3 Components of L
Savings
bonds

Short-term
Treasury
securities3

Bankers
acceptances*

Commercial
paper5

Federal

Total

Term
Eurodollars2

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.
32,
29.

82.2
80.4
78.4

65.2
62.3
61.6

130,
131,
132,

302.8
292.
313.

30.1
28.7
27.8

344,
334,
334,

2544.5
2560.6
2586.4

8300.4
8330.5
8352.9

JULY
AUG.
SEP.

49.6
48.9
48.1

29.
29.
28.

78.8
78.4
76.7

62.7
63.6
61.5

133,
134,
135,

324,
324,
323,

27,
27,
25,

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.
25.
23.8

75.5
73.7
70.9

62.8
61.9
57.7

135.9
136.8
137.7

325,
332,
328,

25,
25,
24,

331.5
333.8
335.8

2707*6
2740.7
2764.9

8400.3
8416.8
8438.7

1992-JAN.
FEB.
MAR.

48.1
48.7
50.8

22.8
23.4
23.0

70.9
72.1
73.8

55.7
56.0
57.8

138.8
140.1 p

320.3
326.7 p

23.7
22.7 p

338.7
330.4 p

2782.0
2798.2 p

8444.3
8446.3 p

48.3

23.9

72.1

55.2

Neek ending
1992-FEB. 24
MAR.

2
9
16
23
30

48.8
48.9
51.2
51.9
51.9

23.
24.
24.
22,
20.

72.1
73.2
75.2
74.8
72.6

57,
57,
57.
57.
58,

APR.

6
13p
20p

50.3
49.8
50.8

21.
22.
22.4

72,
72,
73,

56,
56.
56,

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
ma rke t mu tua1 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
Time and savinqs
deposits due to
foreign banks
Foreign
Foreign
ccommercial m official
and official
institutions
banks
institutions

Date

IRA and Keogh Accounts

U.S. government depos;its
Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note balances
at depository
institutions

Total
cash
balance

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

At
money
market
funds

Total

1990-NOV.
DEC.

9.2
9.0

1.5
1.5

3.9
4.1

3.8
5.0

5.6
5.2

15.4
18.1

24.8
28.2

1.4
1.4

128.6
130.3

133.8
133.4

41.8
43.3

304.2
307.0

1991-JAN.
FEB.
MAR.

9.3
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
35.1
23.3

37.2
50.8
35.1

1.3
1.3
1.3

132.1
133.6
135.3

133.5
134.0
134.5

43.5
43.5
44.0

309.1
311.1
313.8

APR.
MAY
JUNE

8.5
8.2
7.6

1.5
1.5
1.5

6.0
6.2
6.3

5.4
3.6
5.0

4.7
5.6
6.3

15.0
16.2
18.6

25.1
25.4
29.9

1.3
1.4
1.5

137.3
138.9
140.3

135.2
135.5
135.4

44.3
44.9
43.9

316.7
319.3
319.6

JULY
AUG.
SEP.

8.0
7.9
7.8

1.5
1.5
1.5

6.3
6.5
6.6

3.7
3.6
5.2

6.6
5.8
7.8

17.1
13.5
21.7

27.3
22.9
34.7

1.6
1.5
1.5

141.8
143.1
144.4

134.6
133.2
131.6

42.2
42.8
43.3

318.5
319.1
319.4

OCT.
NOV.
DEC.

7.7
7.9
8.1

1.5
1.5
1.7

6.7
6.7
6.6

3.6
4.4
4.8

5.7
6.0
7.4

25.0
24.2
20.5

34.4
34.6
32.8

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
321.3
321.2

1992-JAN.
FEB.
MAR.

8.3
7.6
7.6

1.7
1.6
1.5

6.6
6.6
6.5

5.2
4.3
4.2

7.4
6.2
5.6

27.9
20.9
15.9

40.5
31.5
25.7

1.8
2.0
2.2

148.3
148.4
147.8

131.1 e
130.4 e
129.9 e

42.2 e
42.5 e
42.5 e

321.6 e
321.3 e
320.1 e

Week ending
1992-FEB. 24

7.9

1.5

6.6

4.3

5.3

16.8

26.5

2.0

MAR.

2
9
16
23
30

7.4
7.4
7.2
7.6
8.1

1.5
1.4
1.8
1.4
1.5

6.6
6.5
6.5
6.5
6.6

4.7
3.5
6.0
3.1
3.4

5.3
5.8
5.6
5.8
5.3

14.7
14.3
12.7
22.5
15.4

24.7
23.7
24.3
31.4
24.1

2.0
2.2
2.2
2.2
2.2

APR.

6
13p
20p

8.2
7.6
8.3

1.6
1.5
1.6

6.5
6.5
6.5

4.6
4.2
9.2

5.2
4.7
4.3

9.7
5.8
6.6

19.4
14.7
20.2

2.4
2.5
2.5

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