Full text of H.6 Money Stock Measures : August 18, 1988

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURBS

AUGUST 18, 1988

Billions of dollars
Date

M1 J

M2<=

Debt5

M3 3
Seasonally adjusted

1986-AUG.
SEP.
OCT.
NOV.
DEC.

680.5
687.4
694.9
706.4
725.4

2725.6
2743.6
2766.1
2782.7
2807.8

3403.8
3429.8
3448.3
3463.8
3490.4

4036.3
4064.4
4083.6
4104.5
4133.8

7280.8
7365.2
7429.6
7512.1
7607.7

1987-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
OEC.

731.4
731.3
734.2
744.7
746.5
742.1
743.6
746.5
747.5
756.2
752.7
750.8

2827.8
2829.
2834.
2847.
2849.
2851.
2858.
2869.
2880.
2894.
2896.
2901.

3515.1
3523.9
3532.6
3549.8
3564.4
3580
3587
3605
3620
3642
3656
3661

4162.7
4175.2
4174.0
4189.7
4217.7
4232.4
4235.2
4257.8
4283.5
4312.2
4323.2
4323.9

7673.0
7710.9
7756.6
7816.7
7881.6
7939.3
7980.7
8031.0
8092.9
8163.3
8245.8
8305.5

1988-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY p

758.8
759.5
762.9
770.1
770.2
776.5
782.3

2925.
2946.
2967.
2991.
3002.
3015.
3022.

3686.8
3719.5
3744.2
3766.7
3779.8
3799.9
3816.8

4360.7
4392.0
4418.4
4460.5
4488.4
4501.6 p

8352.7
8407.9
8468.8
8529.7
8588.5
8643.2 p

1986-AUG.
SEP.
OCT.
NOV.
DEC.

679.1
685.2
692.8
709.5
740.6

2723.7
2737.9
2766.0
2785.7
2821.5

3400.7
3426.6
3448.3
3470.3
3507.2

4029.6
4058.3
4083.1
4112.7
4151.9

7258.8
7350.1
7412.0
7486.4
7593.3

1987-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

737.5
717.1
723.5
752.5
739.9
744.4
746.8
745.0
745.2
753.7
756.0
765.9

2839.
2817.
2826.
2855.
2836.
2850.
2862.
2868.
2876.
2895.
2900,
2914.8

3527.2
3512.4
3526.3
3555.0
3552.6
3576.2
3585.7
3602.8
3618.4
3642.0
3664.0
3677.7

4180.6
4170.6
4173.4
4191.3
4201.0
4229.1
4226.6
4250.6
4278.6
4312.5
4333.0
4342.0

7655.9
7677.3
7725.3
7786.2
7849.5
7911.5
7958.9
8013.1
8079.4
8147.8.
8220.1
8289.3

1988-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY p

764.7
745.0
752.1
778.3
763.8
778.8
785.5

2937.3
2933.4
2958.6
2998.9
2988.5
3013.3
3027.5

3699.
3708,
3737,
3771.
3767,
3795
3814,

4379.4
4387.5
4416.8
4460.8
4470.9
4498.2 p

8335.0
8373.4
8436.8
8500.0
8558.8
8618.3 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 a t seasonally adjusted annual rates
Ml

M2

M3

Debt 1

3 Months from APR. 1988 TO JULY 1988

6.3

4.2

5.3

8.2

6 Months from JAN. 1988 TO JULY 1988

6.2

6.7

7.1

8.1

12 Months from JULY 1987 to JULY 1988

5.2

5.8

6.4

8.9

5.7

Thirteen weeks ending AUGUST 8, 1988
from thirteen weeks ending:

MAY

9, 1988 (13 weeks previous)

6.3

5.7

FEB.

8, 1988 (26 weeks previous)

5.9

7.2

7.1

4.5

5.6

6.2

AUG. 10, 1987 (52 weeks previous)

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates* namely,
March 1988 to June 1988, December 1987 to June 1988, and June 1987 to June 1988, 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 (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 commercial banks and overnight Eurodollars issued
to U.S. residents by foreign branches of U.S. banks worldwide, money market deposit accounts (MMDAs), savings and smalldenomination 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 commercial banks and thrift 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 oh 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
B i l l i o n s of d o l l a r s
Seasonally adjus;ted

5775.0
5776.7
5779.9

5775.8
5782.2
5785.0

5007.5
5010.5
5012.9
5014.9

5016.5
5011.2
5015.4
5016.6

5768.5
5772.5
5776.5
3780.6

5784.7
3789.0
5795.8
5799.0

5795.7
5793.1
5801.4
5805.7

3004.7
3007.3
3009.6
3011.7

3015.9
3019.4
3020.8
3022.1

5020.4
3025.2
3021.1
3021.6

3784.0
3787.9
3791.8
3795.8

3801.3
3807.0
3811.0
3814.4

5805.1
5815.9
5817.4
5819.2

3014.2
3016.5

3025.6
5025.6

3026.5
5025.5

3799.6
3803.3

3818.6
3820.8

5821.8
5824.8

2996.2
2998.9
5002.4

770.6
771.6
775.9
775.8

774.1
772.0
778.5
778.9

2991.6
2995.3
2998.7
3001.7

772.7
774.1
775.5
775.6

776.7
779.9
780.7
781.4

777.5
784.8
781.5
781.7

776.2
777.2

785.1
782.5

784.2
781.9

772.9
770.8
769.5

JUNE

6
15
20
27

769.0
769.9
770.9
771.7

JULY

4
11
18
25
lp
8p

5754.1
5758.5
5765.5

2977.8
2981.9
2986.7

765.8
766.5
767.6

AUG.

2999.2
5005.1
5008.4

768.1
769.1
771.1

16
25
50

1988-MAY

week
average

week
average

4-week
average

4-week
average

4-week
average

week
average

15-week
average

15-week
average

15-week
average

Period ervding

M5

M2

Ml

Not seasonally adjusted

15-week
average

4-week
average

766.9
756.9
755.9

2973.0
2977.0
2981.5

2986.1
2985.5
2987.6

766.7
770.8
776.8
778.9

787.1
785.5
780.9
764.4

2987.0
2991.6
2995.8
2998.8

774.1
775.5
775.4
775.5

779.7
785.7
785.1
787.2

790.0
799.5
786.5
772.9

776.5
778.0

784.1
782.2

777.8
791.7

13-week
average

4-week
average

16
25
50

761.7
762.8
764.5

768.8
764.6
762.4

JUNE

6
13
20
27

766.7
768.9
771.2
772.8

JULY

4
11
18
25

Period erxding
1988-MAY

AUG.

lp
8p

M5

M2

Ml
week
average

week
average

13-week
average

4-week
average

2990.6
2986.2
2986.6

3748.9
3755.4
5758.2

5761.0
3762.9
3766.7

5766.2
3765.4
5769.4

2997.4
5004.7
5011.4
3013.6

5026.0
5020.1
5012.8
2995.5

5763.9
3768.8
3775.2
5776.7

3776,4
3785.4
3792.7
5795.5

5804.6
5802.2
5794.4
5780.6

3001.6
3005.9
5005.4
5007.5

3014.2
3019.6
3025.6
5028.6

5028.7
5041.7
5028.7
5015.1

5779.3
57823
5785.2
5788.9

5796.4
5801.6
3807.0
3815.4

5808.5
5825.0
5816.0
5806.4

5010.8
5014.7

5026.8
5025.6

5021.6
5057.1

5795.4
5798.6

5814.5
5816.8

5812.5
5852.5

week
average

Note: Special caution should be taken in i n t e r p r e t i n g 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
B i l l i o n s of dollars> seasonally adjusted
Nontransactions
components

Date

Currency1

Travelers
checks2

Demand
deposits3

Other
checkable
deposits4

1987-MAR.

184.4

6.8

295.0

APR.
MAY
JUNE

185,
187,
187.8

6.7
6.7
6.8

299.
298.
295.

JULY
AUG.
SEP.

189.
190.
191.

OCT.
NOV.
DEC.

Small time deposits8

Savings deposits7

At
thrift
institutions

Total

360.8

486.2

847.0

358.9
359.0
361.6

486,
487.
490.

845.
845.
852.

415.5
417.8
418.6

364.4
366.7
368.5

494.
499,
505.8

859.
865.
872.

238.
236.
236.

417.
415.
414.

374.2
581.6
584.6

509.1
520.1
528.5

883.
901.
913.

179,
181.
183,

235,
235.
236.

414.4
416.2
419.8

588.0
595.7
597.5

556.6
547.8
556.0

924.6
941.5
953.5

775.3
777.5
784.4

184,
186.
188,

238.
239.
241.

422.7
425.1
429.0

402.5
404.7
406.8

562.3
567.3
568.1

964.8
972.0
974.9

At
commercial
banks

At
thrift
institutions

In M2 5

In M3
only*

248.0

2100.1

698.3

168.1

228.2

396.3

255.1
255.9
254.5

2102.7
2102.7
2109.6

702.5
715.3
728.5

171.4
174.0
175.3

232.7
235.5
237.8

404.1
409.5
413.1

292.
292.
290.

255.6
257.2
258.6

2114.5
2123.1
2135.4

729.5
736.0
739.6

176.9
178.3
178.7

238.
239.
240.

195.
195.
196.

295.
291.
288.

260.5
259.5
259.5

2158.4
2145.8
2150.5

747.4
760.1
760.0

178.4
178.2
178.2

1988-JAN.
FEB.
MAR.

198.
199,
200.

289.9
287.8
287.9

263.3
265.0
266.9

2166.2
2186.5
2204.5

761.8
773.5
777.0

APR.
MAY
JUNE

202.
205.
204.

290.
287.
289.

270.1
271.9
274.4

2221.5
2252.1
2259.0

Total

At
commercial
banks

p

206.3

7.2

290.6

278.3

2240.6

793.9

189.5

242.2

431.7

409.7

568.1

977.8

1988-JUNE 13
20
27

204.1
204.9
206.1

7.3
7.3
7.2

287.4
290.8
289.4

273.2
275.3
276.2

2259.2
2257.1
2257.7

781.
786.
789.

187.
188.
188.

240,
241,
241.

428.4
429.6
450.2

406.4
407.2
407.8

567,8
568.5
568.0

974.2
975.4
975.8

290.1
293.0
289.8
288.9

274.5
278.7
278.2
278.7

2242.9
2240.4
2259.6
2259.9

784.
790.
796.
797.

188.
189.
189.
189.

241.
241.
242.
242,

430.4
450.7
451.8
452.1

407.8
409.0
409.8
410.2

567.8
567.8
568. 0
568.4

*»?'.*
978 ?

289.8
290.6

280.5
277.8

2242.1
2245.7

795.
799.

190.
190.

245.0
242.8

455.1
455.4

411.5
412.6

568.9
570.0

980. 2
982.5

JULY

Meek ending

JULY

AUG.

4
11
18
25
Ip
8p

205.7
206.0
206.3
207.0
207.0
206.3

7.2
7.2

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions
Outstanding amount of U.S
Travelers checks issued by depository institutions are included
in demand deposits.
Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions the U.S. government and foreign
banks and official institutions, less cash items in the process of collection and Federal Reserve float.
Consists of NON and ATS balances at all depository institutions, credit union share draft balances and demand deposits at thrift institutions.
Sum of overnight RPs and overnight Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs, and savings and small time
deposits. This sum is seasonally adjusted as a whole.
Sum of large time deposits, term RPs and term 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 funds. This sum is seasonally adjusted as a whole.
Savings deposits exclude MMDAs.
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,
-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 d o l l a r s , seasonally adjusted
Large time deposits1
At
commercial
banks 2

Date

At
thrift
institutions

Debt components6

Non-M3 components of L

Total

Savings
bonds

Short-term
Treasury
securities3

Bankers
acceptances4

Commercial
paper5

Federal
debt

Non-federal
debt

1987-MAR.

298.2

147.4

445.6

94.2

267.7

39.6

239.9

1850.8

5905.7

APR.
MAY
JUNE

303.1
308.1
311.9

145.8
145.9
146.7

448.9
454.0
458.6

95.1
95.9
96.6

257.6
261.6
259.6

40.9
42.1
43.1

246.3
253.7
252.8

1862.8
1875.5
1887.1

5953.9
6006.1
6052.2

JULY
AUG.
SEP.

312.2
312.8
313.8

148.0
149.6
151.5

460.2
462.4
465.3

97.5
98.1
98.4

254.8
258.9
263.7

43.4
43.5
44.3

251.8
251.8
256.6

1889.9
1903.6
1913.9

6090.8
6127.3
6178.9

OCT.
NOV.
DEC.

317.5
322.3
323.5

154.8
158.1
161.2

472.3
480.5
484.7

98.8
99.3
100.2

272.7
269.7
258.0

44.5
45.0
45.7

254.2
252.5
258.9

1920.4
1941.2
1954.7

6242.8
6304.6
6350.8

1988-JAN.
FEB.
MAR.

320.2
324.8
326.3

162.7
164.9
165.1

482.9
489.7
491.5

101.4
102.6
103.5

259.9
255.0
249.7

43.6
40.9
40.6

269.0
274.1
280.3

1963.3
1981.5
2006.6

6389.4
6426.3
6462.1

APR.
MAY
JUNE

325.7
327.9
333.5

167.3
168.1
168.1

493.0
496.0
501.5

104.6
105.4
106.1 p

259.7
258.6
248.2 p

41.2
40.6
40.0 p

288.2
303.9
307.4 p

2018.5
2023.1
2032.1 p

6511.2
6565.4
6611.2 p

JULY P

340.6

168.5

509.0

332.4
335.0
335.9

167.8
168.5
168.1

500.2
503.5
504.0

334.6
338.6
341.7
342.8

168.6
169.1
168.6
167.6

503.2
507.7
510.3
510.4

343.0
343.8

167.5
167.7

510.5
511.4

Heek ending
1988-JUNE 13
20
27
JULY

AUG.

4
11
18
25
IP
8p

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.
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.
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 ( 5 0 8 )
Table 5

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Other checkable deposi ts

Nontransactions
components
General purpose
and broker/dealer
money market funds

At
thrift
institutions5

Total

In M2 6

In M3
only7

Overnight
RPs 8

Overnight
Eurodollars9

170.7

76.6

247.4

2103.0

699.8

58.3

18.6

212.5

301.1
294.1
294.4

178.9
172.0
173.4

81.2
80.2
81.0

260.2
252.3
254.3

2102.6
2096.2
2105.6

699.9
716.5
726.1

56.3
55.3
54.9

20.7
20.9
20.0

212.
209.
210.

7.7
7.9
7.6

2*4.3
290.7
289.3

173.3
174.9
176.6

81.0
80.8
80.9

254.3
255.6
257.5

2115.8
2122.2
2130.8

723.0
734.6
742.4

56.9
61.4
62.4

18.7
18.4
21.1

210.
213.
216.

192.6
195.9
199.4

7.0
6.6
6.5

295.7
294.1
298.5

177.0
178.0
180.3

81.5
81.4
81.2

258.5
259.3
261.6

2141.5
2144.1
2148.9

746.8
763.9
762.9

65.1
63.2
62.1

20.9
16.5
16.0

218.
219.
221.

1988-JAN.
FEB.
MAR.

197.1
197.2
199.2

6.6
6.8
6.9

295.8
279.1
279.9

184.1
181.8
184.0

81.1
80.1
82.2

265.2
261.8
266.1

2172.6
2188.4
2206.5

762.0
774.6
778.7

64.4
61.6
60.0

18.4
16.4
14.8

225.0
231.0
234.8

APR.
MAY
JUNE

201.6
203.6
205.8

6.9
7.1
7.6

292.0
282.9
291.0

190.9
184.9
187.3

86.8
85.2
87.1

277.8
270.1
274.4

2220.7
2224.7
2234.5

772.6
778.8
781.9

61.2
63.7
63.3

15.4
17.2
16.6

235.8
231.7
228.9

207.9

8.2

292.7

188.4

88.4

276.8

2242.0

786.7

61.4

14.7

229.5

206.3
206.0
205.0

. 7.5
7.6
7.8

292,
292,
283,

189.4
187.8
183.7

88.1
87.1
84.7

277.5
274.9
268.4

2236.7
2231.9
2231.0

782.2
781.6
785.3

64.3
62.8
6£.4

16.4
16.6
15.1

229.
227.
228.

208.2
209.0
207.6
206.8

8.0
8.1
8.2
8.3

297.
301,
293,
285,

188,
191.
188.
186.

88.3
90.3
88.8
86.4

276.5
281.3
276 9
272.8

2238.7
2242.2
2242.4
2242.3

779.5
781.3
787.3
791.2

61.6
60.5
61.2
61.7

16.2
15.4
12.8
14.4

226.
228,
230.
230.

206.7
209.5

8.3
8.3

288,
292,

186.
191.

87.4
90.1

274.3
281.1

2243.8
2245.4

790.9
795.2

62.3
62.4

15.6
14.8

230.
228.

Demand
Travelers
checks2 deposits3

Date

Currency1

1987-MAR.

182.8

6.4

286.9

APR.
MAY
JUNE

184.8
187.0
188.6

6.4
6.5
7.1

JULY
AUG.
SEP.

190.5
190.9
190.9

OCT.
NOV.
DEC.

JULY

p

At
commercial
banks*

Meek ending
1988-JUNE 13
20
27
JULY

AUG.

4.
5.
6.
7.

4
11
18
25
lp
8p

Currency outside U.S. Treasury> Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are
included in demand deposits.
Demand deposits at commercial banks and fore ion-re la ted institutions other than those due to depository institutions , the U.S. government
and foreign banks and official institutions> less cash items in the process of collection and Federal Reserve float.
Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of NOW and ATS balances at thrifts* credit union share draft balances, and demand deposits at thrifts.
Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs and savings and small time deposits.
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.
Consists of overnight and continuing contract RPs issued by commercial banks to other than depository institutions and money market mutual
funds (general purpose and broker/dealer).
Issued by foreign branches of U.S. banks worloStfide to U.S. residents other than depository institutions and money market mutual funds
(general purpose and broker/dealer),
-indicates estimated data,
-indicates preliminary data.




H.6 (508)
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjustea

At
A*
thrift
commercial institutions
banks

Date

Total

Small-denomination time deposits2

Savings deposits1

Money market deposit accounts

At
At
comtnercia 1 _ thrift
institutions
banks

Total

At
At
commercial
thrift
banks
institutions

Total

Large-denomination time deposits3
At m
At
commercial
thrift
banks*
institutions

Total

1987-MAR.

378.8

193.0

571.8

167.4

227.9

395.4

360.2

486.3

846.4

300.0

147.5

447.5

APR.
MAY
JUNE

376.1
369.7
368.5

190.7
188.9
186.6

566.8
558.6
555.1

172.3
175.0
176.8

233.6
237.4
240.4

405.9
412.4
417.3

356.3
356.2
360.4

484.6
483.0
487.4

840.9
839.1
847.8

302.7
308.7
311.2

144.5
145.1
145.7

447.2
453.7
457.0

JULY
AUG.
SEP.

366.2
365.0
363.3

183.3
180.0
177.2

549.4
545.0
540.5

178.7
178.5
178.2

241.8
240.0
239.2

420.5
418.5
417.3

364.9
367.9
370.0

494.7
499.0
503.2

859.6
866.8
873.2

309.7
312.3
314.1

146.8
149.4
151.8

456.5
461.7
465.9

OCT.
NOV.
DEC.

360.0
358.1
358.2

173.9
169.6
167.0

533.9
527.7
525.2

178.6
177.5
176.7

239.3
235.7
233.3

417.8
413.2
410.0

375.1
382.6
385.2

510.5
521.1
529.3

885.6
903.8
914.6

317.3
322.4
323.6

155.7
159.0
161.8

473.1
481.3
485.4

1988-JAN.
FEB.
MAR.

359.0
359.2
360.9

165.1
163.5
163.8

524.1
522.6
524.7

178.2
179.5
182.5

233.0
232.8
236.1

411.2
412.2
418.6

389.4
394.1
397.2

540.1
550.4
556.5

929.5
944.5
953.7

321.3
325.1
328.5

163.8
166.0
165.3

485.0
491.1
493.8

APR.
MAY
JUNE

360.3
357.0
359.9

163.0
162.6
162.4

523.3
519.6
522.3

185.1
187.1
189.6

239.4
241.2
243.8

424.5
428.3
433.3

399.6
401.4
405.4

560.9
562.8
564.6

960.5
964.2
970.0

325.6
328.5
332.7

165.7
167.2
166.9

491.3
495.7
499.7

359.2

161.7

521.0

191.4

245.5

436.9

410.2

568.3

978.5

337.8

167.0

504.8

361.3
359.5
358.6

163.2
162.3
161.5

524.5
521.8
520.1

189.5
189.6
189.7

244.0
243.7
243.3

433.5
433.3
433.0

404.4
405.6
406.9

563.7
564.1
565.2

968.1
969.7
972.1

332.4
332.4
335.1

167.
167.
166.

499.4
499.4
502.1

360.0
360.0
359.8
358.4

161.8
162.3
162.0
161.5

521.7
522.3
521.8
519.9

191.1
191.6
191.6
191.3

245.7
246.4
246.0
244.9

436.7
438.1
437.6
436.2

408.2
409.3
410.1
411.0

567.9
568.0
568.4
568.6

976.1
977.3
978.5
979.5

332.9
335.4
337.9
340.0

167.
167.
167.
166.

499.9
502.8
504.9
506.4

358.1
358.3

161.1
161.2

519.3
519.5

191.1
191.6

244.4
245.0

435.5
436.6

411.9
413.4

569.0
569.8

980.9
983.2

341.0
342.2

166.
166.

507.
508.

JULY

p

Week ending
1988-JUNE 13
20
27
JULY

AUG.

4
11
18
25
lp
8p

Savings deposits exclude MMDAs.
Small-denomination time deposits—including
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 ( 5 0 8 )
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
B i l l i o n s of dollars>

not seasonally

Term RPs 1
InstitutionAt
At
o n l y money commercial L
thrift
market funds
banks
institutions

Date

8

adjusted
Debt c o m p o n e n t s 6

Non-M3 Components o f L

Total

Term
Eurodollars2

Savings
bonds

Short-term
Treasury
securities3

Bankers
acceptances*

Commercial
paper5

Federal
debt

Non-Federal
debt

1987-MAR.

85.4

34.9

52.3

87.2

88.5

94.3

273.3

39.3

240.2

1839.8

5885.5

APR.
MAY
JUNE

83.5
82.1
81.7

38.3
40.6
40.4

56.1
61.9
67.0

94.4
102.5
107.4

84.0
86.8
87.9

95.1
95.8
96.5

257.0
256.8
257.8

40.5
42.2
43.5

243.8
253.6
25^.1

1848.5
1859.4
1870.5

5937.8
5990.1
6040.9

JULY
AUG.
SEP.

83.8
84.0
81.3

38.5
39.5
40.2

68.5
67.9
68.8

107.0
107.4
109.1

84.5
90.2
94.5

97.1
97.7
98.3

251.1
257.2
260.8

43.6
43.6
44.4

249.2
249.2
256.8

1873.7
1888.5
1901.0

6085.3
6124.6
6178.4

OCT.
NOV.
DEC.

82.5
89.5
89.6

37.0
39.2
37.4

69.1
69.5
68.0

106.1
108.7
105.5

93.0
92.8
90.8

98.8
99.6
100.6

269.8
272.7
260.9

44.8
45.1
45.1

257.1
251.6
257.8

1910.9
1936.9
1954.1

6237.0
6283.2
6335.1

1988-JAN.
FEB.
MAR.

94.4
98.7
97.4

37.7
42.5
42.6

68.3
67.4
64.7

106.0
109.9
107.3

85.3
85.2
89.4

101.7
102.7
103.6

262.5
260.1
254.9

43.4
41.0
40.4

272.5
275.8
280.5

1961.9
1974.6
1993.2

6373.1
6398.8
6443.6

APR.
MAY
JUNE

91.9
90.0
86.3

43.0
44.1
44.0

65.1
67.0
67.2

108.1
111.1
111.2

88.7
91.0
92.8

104.6
105.4
105.9 p

258.9
253.8
246.6 p

40.9
40.8
40.4 p

285.0
303.7
310.0 p

2001.6
2005.2
2014.7 p

6498.4
6553.6
6603.6 p

JULY p

84.8

42.2

68.4

110.7

94.4

Week e n d i n g
1988-JUNE

13
20
27

86.3
86.0
86.4

44.7
44.4
44.7

67.0
67.4
67.1

111.7
111.8
111.8

93.1
91.7
93.3

JULY

4
11
18
25

85.2
85.4
85.2
84.6

41.3
41.1
42.1
43.0

68.0
68.3
68.2
69.0

109.3
109.4
110.3
112.0

93.0
91.4
94.8
96.3

83.8
83.8

43.3
43.3

68.5
68.6

111.9
112.0

96.4
98.5

AUG.

lp
8p

Term RPs are those with original maturities greater than one day excluding continuing contracts and retail RPs. Includes a relatively small amount
of overnight RPs at thrift institutions.
^
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
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 ( 5 0 8 )
Table 6

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

Date

IRA and Keogh Accounts

U.S. government depos;its

Time and savings
deposits due to
Foreign
foreign banks
Foreign
and official
official
commercial
institutions
institutions
banks

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note balances
at depository
institutions

Total
cash
balance

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

At
money
market
funds

Total

1987-MAR.

8.8

1.6

4.6

3.5

3.1

13.6

20.3

1.4

75.6

100.3

11.2

187.1

APR.
MAY
JUNE

9.0
9.0
9.3

1.8
2.0
2.0

4.6
4.5
4.5

5.0
3.4
3.6

7.0
16.0
8.7

16.6
27.4
21.8

28.5
46.8
34.2

1.4
1.6
1.6

78.6
79.7
79.8

103.0
103.7
104.6

12.4
13.1
13.3

193.9
196.5
197.7

JULY
AUG.
SEP.

9.3
8.9
9.4

2.0
2.0
1.9

4.4
4.4
4.4

3.3
3.0
4.2

5.3
3.4
10.3

23.3
18.6
21.3

31.9
25.0
35.8

1.7
1.6
1.5

80.2
80.7
81.4

105.4
105.7
106.6

13.5
14.0
14.5

199.2
200.4
202.4

OCT.
NOV.
DEC.

9.5
9.4
9.6

1.8
1.7
1.7

4.4
4.4
4.4

3.2
3.2
3.9

8.9
4.0
4.2

27.4
22.6
18.4

39.5
29.7
26.6

1.5
1.5
1.6

81.8
82.2
82.9

107.1
107.4
108.7

15.4
16.2
16.4

204.4
205.8
208.0

1988-JAN.
FEB.
MAR.

10.0
9.3
9.2

1.7
1.6
1.5

4.4
4.3
4.4

4.1
3.1
3.6

5.6
3.8
2.9

20.8
25.1
18.7

30.5
32.1
25.2

1.6
1.6
1.6

83.9
84.7
85.5

110.0
111.2
113.2

16.6
16,8
17.1

210.6
212.8
215.8

APR.
MAY
JUNE

9.0
9.1
9.5

1.8
1.6
1.7

4.4
4.3
4.3

5.3
3.3
4.3

5.1
7.2
4.1

16,4
27.1
16.7

26.8
37.5
25.0

1.7
1.7
1.8

87.3
88.8
89.4

115.4
116.5
117.7

18.0
18.6 e
18.4 e

220.7
224.0 <a
225.5 &

p

9.9

1.8

4.4

3.4

3.9

18.6

25.9

1.8

90.2

119.4

18.6 e

228.3 B

1988-JUNE 13
20
27

9.0
9.0
9.7

1.5
1.6
1.6

4.3
4.4
4.4

3.1
6.7
2.8

2.9
3.9 .
5.7

4.5
17.0
31.5

10.6
27.7
40.0

1.8
1.8
1.8

9.9
11.2
9.3
9.4

2.0
1.8
1.5
1.8

4.4
4.4
4.4
4.4

3.2
3.7
3.8
3.0

5.7
4.1
3.4
3.6

23.2
14.9
16.9
20.5

32.1
22.7
24.0
27.1

1.8
1.8
1.8
1.8

9.7
9.0

1.8
1.7

4.4
4.4

3.4
3.4

3.5
2.9

19.6
8.6

26.4
14.9

1.8
1.8

JULY

Heek ending

JULY

AUG.

4
11
18
25
Ip
8p

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




H.6 (508)
Special Supplementary Table

Monthly Survey of Selected Deposits and Other Accounts:
June 29, 1988 and July 27, 19881
(not seasonally adjusted)
Insured Commercial Banks
Amount Outstanding ($mil)
Liability Categories
NOH accounts

June 29

2

Money market deposit accounts2
Savings deposits

3

July 27

Average Rate Paid i'/.)
June 29

July 27

Number of Issuing Banks
June 29

July 27

179,299

181,463

4.90

4.90

12,873

12,797

354,990

355,267

5.45

5.49

12,126

12,132

186,955

187,876

5.22

5.26

12,681

12,612

Interest-bearing time deposits
with balances of less than
£100,000 with original
maturities of: 4
7 to 31 days

6,468

6,145

6.05

6.19

8,218

8,145

32 to 91 days

21,920

21,534

6.24

6.42

11,926

11,730

92 to 182 days
183 to 1 year

129,606

129,455

6.82

6.99

12,974

12,893

111,133

114,417

7.18

7.37

12,770

12,784

98,974

100,778

7.46

7.59

12,733

12,652

125,595

126,276

7.79

7.90

12,552

12,478

5

89,581

90,688

N.A.

N.A.

12,378

12,301

Retail repurchase agreements

1,133

1,086

5.88

6.31

1,867

2,050

OVer 1 year to ;2-1/2 years
2-1/2 years and over
All IRA/Keogh Plan deposits

FDIC-Insured Savings Banks
Amount Outstand ing (Smil)
Liability Categories
NOH accounts2
Money market deposit accounts

2

Savings deposits3

Average Rate Paid

i'/.)

June 29

July 27

June 29

7,229

7,372

5.24

5.22

July 27

Number of Issuing Banks
June 29

July 27

341

339

32,107

32,020

5.71

5.76

376

374

43,042

43,171

5.45

5.46

388

385

143

146

6.08

6.20

99

100

6.80

305

305

Interest-bearing time deposits
with balances of less than
$100,000 with original
maturities of:*
7 to 31 days

2,234

2,248

6.71

21,897

22,006

7.17

7.33

381

379

183 to 1 year

27,454

28,091

7.39

7.54

386

383

Over 1 year to 2-1/2 years

21,860

22,125

7.62

7.74

364

362

2-1/2 years and over

25,482

25,541

8.03

8.15

382

380

5

19,468

19,521

N.A.

N.A.

381

377

Retail repurchase agreements

96

80

6.11

6.68

14

14

32 to 91 days
92 to 182 days

All IRA/Keogh Plan deposits

NOTE: The lower panel of this table presents data for both mutual and FDIC-insured federal savings banks.
N.A. - Data not available.
...
,
, .
1. Estimates are based on data collected by the Federal Reserve from a stratified random sample of about 490 commercial banks and 80 savings banks.
2. NOW and MMDA account rates are reported as simple annual rates.
.
3. Savings daposits exclude MMDAs. The savings deposits rate is reported as a simple annual rate.
4. Hith the €»xception of the 7-31 and 32-91 day deposit rates, which are reported as simple annual rates, time
deposit rates are annual effective yields reflecting the method of compounding reported by the individual
institutions.
, - .
. - . - •_ L u
-A
A
A
-J
5. All IRA/Keogh Plan time deposits regardless of size, type of instrument m which held, or interest rate paid.