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FEDERAL RESERVE statistical release For release at 4:30 PM ET>T August 21, 1986 H.6(5O«) MONEY STOCK REVISIONS Estimates of M2 and M3 have been revised upward, reflecting new data for RPs obtained from regular quarterly and annual surveys for the end of .Tune. The Sulk of the revisions were for the second quarter of the yesr. The revisions to overnight RPs in M2 were relatively small, boosting M2 growth from the fourth quarter of last year to July by 0.2 percentage Doint at an annual rate. Those to term RPs at thrift institutions were considerably larger, and accounted for nearly ail of the revisions to the non-M2 component of M 3 . Together, overnight and term RP revisions increased estimated M3 growth from the fourth quarter of last year to July by 0.5 percentage point at an annual rate. No data prior to June 193S were revised. 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 AUGUST Billions of dollars M1 Sum of currency, travelers checks, demand deposits and other checkable deposits1 Date 1985—JOLT AUG. SEPT. OCT. NO 7. DSC. 1986—JAM. FEB. BAB. AP&. HAY JUNE JULY P M2 M3 M1 plus overnight RPs M2 plus and Eurodollars, large time deposits, MMMF balances (gen. pur. term RPs, term Eurodollars and institution-only and broker/dealer), MMDAs, and savings and small MMMF balances3 2 time deposits Seasonally adjusted L Debt M3 plus other liquid assets4 Debt of domestic nonfinancial sectors* 596.2 604.8 611.5 614.2 6^0. 1 626.6 ^496.2 2515.6 2529.9 2538.9 2551.4 2566.5 3112.2 3130.5 3150.8 3165.7 3181.2 3201.1 3t>83.3 3711.5 3739.7 3761.6 3799.2 3838.2 6389.6 6460.3 6525.3 6592.0 6t>d0.5 6810.0 627.2 631.0 638.4 646.1 658.7 3224.4 3241.3 3262.2 3293^2 3311.6 3332.9 3369.0 3860.5 3878.9 3892.4 3916.2 3949.3 3967.1 6913.9 6964.1 7012.4 7070.5 7133.3 7194.6 676.2 2569.9 2577.6 2592.3 2622.4 2649.7 2670.9 2698.9 599.6 602.0 609.1 612.2 621.7 639.9 2501.1 2511.2 2521.4 2534.2 2549.7 2574.7 3109.8 3126.4 3144.3 3162.7 3164.7 3213.8 3682.8 3709.2 3735.4 3759.1 3801.9 3844.4 6370.3 6441.5 6509.9 6578.4 6667.3 6804.1 633.5 619.2 630.5 2578.6 2570.9 2594.3 2632.0 2640.7 2673.1 2704.2 3232.% 3233.3 3262.5 3299.6 3304.8 3333.7 3366.7 3865.7 3871.3 3896.5 3926.3 3936.0 3967.1 6907.3 6944. 6 6985.3 7041.9 7107.6 7173.4 666.8 J.\§ Not seasonally adjusted 19£5—JOLT AUG. SEPT. OCT. HOY. DEC 1986—JAH. FEB. HAS. APR. 652.9 HAY JUNE JULY P 651.8 669.2 679.9 M1 Not seasonally adjusted Seasonally adjusted For period ended •^—www** w T w t m y w 1986-JULY AUG. NOTE: 659.4 661.9 664.3 666.5 669.0 670.3 673.1 675.7 674.2 14 21 28 673.6 677.7 677.1 660.5 662.7 664.3 666.2 672.8 675.6 679.9 680.7 691.3 666.1 678.6 666.7 4P 11 P 668. 5 670.7 677.1 679.9 679.9 684.9 668.6 671.3 679.0 664.7 688.9 7 679.7 SPECIAL CAUTION SHOULD BE TAKEN I I INTEEPfiEIXNfi «£SK-fO-l££C CHANGES I I flOlBY SUPPLY DATA, iHICfl ARE HIGHLY fOLATILE AID SUBJECT TO RETISIOM. P--INDICATES PRELIfllKAJY DATA. FOOTNOTES APPEAfi 0 1 TH£ FOLLOWING PAGE H.6 (508) Table 2 MONEY STOCK, LIQUID ASSETS AND DEBT MEASURES Percent change at seasonally adjusted annual rates M1 M2 M3 Debt1 3 MONTHS FROM APR. 198t> TO JULY 1986 18.6 11.7 9.2 10.4 6 MONTHS FROM JAN. 1986 TO JULY 1986 15.6 10.0 9.0 11.3 12 HONTUS FRO* JULY 1985 TO JULY 1986 1J.4 8.1 8.3 13.8 THIRTEEN «£JUS ENDING AOG. 11, 1986 FHOH THIRTEEN NB£KS ENDING: 1/ 1/ 2/ 3/ V 5/ HAT 12, 1986 (13 iEEKS PREVIOUS) 17.V Jf£8. 10, 1986 (26 N££KS PBBVIOUS) 14.2 AUG. 12, 1985 (52 MB£KS PREVIOUS) 1i.1 GRONTH BATES FOE DEBT ABE BASED 01 PERIODS BEGINNING AMD ENDING ONE MONTH EARLIER THAN FOB THE HONBTABI AGGREGATES, NAMELY, MARCH 1986 TO JUNE 1986. DECEMBER 1985 TO JUNE 1986, AND JUNE 1985 TO JUNE 1986, RESPECTIVELY. FOOTNOTES TO TABLE 1 CONSISTS OF (1) CUBBBNCY OUTSIDE THE TREASURY, V&MkkL RESERVE BANKS, AND THE VAULTS OF COMMERCIAL BANKS; (2) TRAVELERS CHECKS OF NONBANK ISSUERS; (3) D&likUD DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSE DUB TO DOMESTIC BkMKS, THB U.S. GOVERNMENT, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LRSS CASH ITEMS IN THE PROCESS OF COLLECTION AND FEDSBIL R^SiBHK FLOAT; AND (4) OTHER CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE OBDtM OF UlTHDfiAifAL (NOW) AND AUTOMATIC TRANSFER SERVICE (ATS) ACCOUNTS AT DEPOSITORY INSTITUTIONS, CREDIT UNION SHARE DRAFT ACCOUNTS AND DEHAND DEPOSITS AT THRIFT INSTITUTIONS. THE CDBBENCI AND DEMAND DEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AND DEMAND DEPOSITS, RESPECTIVELY, H&LD BY THRIFT INSTITUTIONS TO SEBVICE THEIM OCD LIABILITIES. CONSISTS OF M1 PLUS OVEBNIGHT (AND CONTINUING CONTRACT) RPS ISSUED BY ALL COMMERCIAL BANKS AND OVERNIGHT EURODOLLARS ISSUED TO U.S. RESIDENTS BY FOREIGN BRANCHES OF U.S. BANKS HORLDHIDE, MMDAS, SAVINGS AND SMALL DENOMINATION TIME DEPOSITS (TIME DEPOSITS—INCLUDING RETAIL RPS—IN AMOUNTS OF LESS THAN $100,000), AND BALANCES XN BOTH TAXABLE AND TAX-EXEMPT GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUNDS. EXCLUDES IRA AND KEOGH BALANCES AT DEPOSITORY INSTITUTIONS AND MONEY MARKET FUNDS. ALSO EXCLUDES ALL BALANCES A&LQ BY U.$. COMMERCIAL BANKS, MONEY MARKET FUUOS (GENERAL PURPOSE AND BROKER/DEALER), FOREIGN GOVERNMENTS AND COMMERCIAL BANKS, AND THE U.S. GOVERNMENT. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS. CONSISTS OF H2 PLUS LARGE DENOMINATION TIME DEPOSITS (IN AMOUNTS OF $100,000 OR BORE) AND TERM UP LIABILITIES ISSUED BY COMMERCIAL BANKS AND THRIFT INSTITUTIONS, TEdM EURODOLLARS HELD BY U.S. RESIDENTS AT FOREIGN BRANCHES OF U.S. BANKS HORLDHIDE AND AT ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA, AND BALANCES IN BOTH TAXABLE AND TAX-EXEMPT INSTITUTION-ONLY HONEY MARKET MUTUAL FUNDS. EXCLUDES AMOUNTS &&LD BY DEPOSITORY INSTITUTIONS, THE U.S. GOVERNMENT, MONEY MARKET FUNDS, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT BPS AND EURODOLLARS &&LD BY INSTITDTIO1-ONLY MONEY MARKET MUTUAL FUNDS, CONSISTS. OF HJ PLUS THE NONBANK PUBLIC HOLDINGS OF U.S. SAVINGS BONDS, SHORT-TERM TREASURY SECURITIES, COMMERCIAL PAPBB 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 UNITED STATES 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 FLON OF FUNDS ACCOUNTS. ALL DATA ON DEBT OF DOMESTIC NONFINANCIAL SECTORS AH£ PRESENTED IN MONTH-AVERAGE FORM, DERIVED BY AVERAGING MONTH-END LEVELS OF ADJACENT MONTHS. THESE DATA HAVE ALSO BEEN ADJUSTED TO REMOVE STATISTICAL DISCONTINUITIES THAT MAY ARISE IN THE UNDERLYING FLOW OF FUNDS STATISTICS. THE PRESENTATION OF V4M DATA IN THIS hZL&KSB DlVXitfLS, THEREFORE, FROM THE QUARTERLY FLOW OF 2UMDS STATISTICS CONTAINED IN THE FEDERAL B£SBBV£ RELEASES 2.7 AND Z.I. IN THOSE RELEASES, PUBLISHED LEV&LS OF CREDIT MARKET D£1*T ARE MEASURED ON A OUABTEB-BND BASIS AND INCLUDE DISCONTINUITIES. COMPONENTS OF THE MONEY STOCK WWont of doNara, miornHy adfuMwl Omar Currency1 MontfSffl compi inents In M3 on*/ 8awings dspostts 7 •t •t ttirtft total OOmmOfClat institutions banks Selected nontraneactkMtstteme SffNill time depotMts1 at at total tiwift institutions banks Lan.is time depotMts' at tftrtft banks'* TWWSlSfS checks* Demand deposits* checkabta deposits4 (nM2* 165.3 166.9 167.7 5.8 5.9 5.9 260.4 263.1 266.4 1 6 4 . tt 189*-9 169.0 171.5 1910.8 1916.4 616.1 614.9 621.0 122.9 123.7 124.0 173.8 176.0 176.3 296.7 299.7 300.3 386.7 383.4 382.7 501.3 49 7.5 495.6 888.0 880.9 878.3 264.0 266.9 270.6 154.3 154. 1 155.1 418.2 421.0 425.6 OCT. NOV. DEC. 168.7 169.8 170.6 5.9 5.9 5.9 266.0 267.8 271.5 173.7 176.7 178. b 1924.6 19J1.3 1939.9 626.8 629.8 634.6 124.4 124.8 124.5 177.9 179.0 179.1 302.3 303.7 303.6 382.0 382.2 384.1 493.7 493.7 496.2 875.7 876.0 273.9 276.7 279.1 155.9 156.3 157.3 429.7 432.9 436.5 1986-JAN. FEB. MAR. 171.9 172.9 173.9 5.9 5.9 6.1 268.9 269.2 273.2 180.5 183.1 185.2 1942.7 1946.6 1953.9 654.5 663.7 669.9 124.7 125.0 125.6 179.3 179.9 181.2 304.0 304.9 306.9 386.6 388.1 389.0 499.4 502.9 505.7 885.9 891.0 894.7 289.7 291.5 287.1 158.2 159.7 163.4 44 7.9 451.2 450.5 APiU HAY JUNE 174.4 175.8 176.7 6.1 6.1 6.2 275.7 281.6 284.9 189.9 195.1 199.0 1976.3 1991. 1 2004.1 126.6 670.8 661.9 i 129.0 662. 1 130-9 184.6 189.5 194.1 311.4 318.5 325.0 388.0 384.9 381.8 508.2 506.3 504. 1 89 6.2 891.2 885.9 287.0 281.5 281.0 165.0 164.9 164.6 452.1 446.3 445.6 JULY P 177-6 6.4 288.3 203.9 2022.7 670.1 197.8 331.2 380.0 503.2 883.3 280.8 165.7 446.5 Dets 1985-JULY AUG. SEPT. 133.4 at MEEK ENDING 1986 JULY AUG. 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ 10/ 7 14 21 28 177.2 177.1 177.6 177.9 288.5 287.5 289.1 287.8 202.2 202.7 204.6 205.0 132.4 132.6 133.8 134.3 381.7 381.0 379.7 378.7 281.8 280.1 281.3 280.7 4 P 11 P 178.3 178.7 288.8 290.3 206.4 209.4 134.8 135.9 377.5 376.8 279.9 281.7 CURRENCY OUTSIDE THE U.S- TREASURY, FEDERAL JtES£HV8 BANKS AND TAULTS OF COMMERCIAL BANKS. EXCLUDES THE ESTIMATED AMOUIT OF VAULT CASH HELD BI THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES. OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS OF NONBANK ISSUERS. TRAVELERS CHECKS ISSUED BY DEPOSITORY INSTITUTIONS ARE INCLUDED II DEMAND DEPOSITS. DEMAND DEPOSITS AT COMMERCIAL BANKS AND FOREIGN R&LkTED INSTITUTIONS OTHER THAN THOSE DOE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND FEDERAL RESERVE FLOAT. EXCLUDES THE ESTIMATED AMOUNT OF DEMAND DEPOSITS HELD AT COMMERCIAL BANKS BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES. CONSISTS OF NOH AND ATS BALANCES AT ALL DEPOSITORY INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND DEMAND DEPOSITS AT THRIFT INSTITUTIONS. OTHER CHECKABLE DEPOSITS SEASONALLY ADJUSTED EQUALS THE DIFFERENCE BETNEEN THE SEASONALLY ADJUSTED SUM OF DEMAND DEPOSITS PLUS OCD AND SEASONALLY ADJUSTED DEMAND DEPOSITS. SUM OF OVERNIGHT RPS AND OVERNIGHT EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER), NHDA3, AND SAVINGS AND SMALL TIME DEPOSITS, LESS THE CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AHODNT OF DEMAND DEPOSITS AND VAULT CASH HELD BY THHIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS LIABILITIES. SUN OF LARGE TIME DEPOSITS, TERM RPS AND TERM EURODOLLARS OF U.S. RESIDENTS, MONEY MARKET FUND BALANCES (INSTITUTIONONLY), LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY INSTITUTION-ONLY MONEY MARKET FUNDS. SAVINGS DEPOSITS EXCLUDE HMDAS. SMALL DENOMINATION TIM£ DEPOSITS—INCLUDING RETAIL R P S — ARE THOSE ISSUED IN AMOUNTS OF L&SS THAN 5100,000. ALL INDIVIDUAL RETIREMENT ACCOUNTS (IRA) AND KEOGH ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS ARE SUBTRACTED PfiOH SMALL TIME DEPOSITS. LARGE DENOMINATION TIME DEPOSITS Ah£ THOSE ISSUED IN AflOUNTS OF $100,000 OR SORE, EXCLUDING THOSE BOOKiSD AT INTERNATIONAL BANKING FACILITIES. LAHGE DENOMINATION TIflfc DEPOSITS AI CUrtHERClhL BANKS LE.SS THOSE HELD BY MONEY MARKET flUTUAL FUNDS, DcPOSlTORY INSTITUTIONS AND FOREIGN dANKS AND OFFICIAL INSTI1UilONS. H.6 (508) Table 4 COMPONENTS OF LIQUID ASSETS AND DEBT Billions of dollars, seasonally adjusted Date 2/ 3/ «/ Non-M3 components of L bankers acceptances 2 short-term treasury securities 1 commercial paper* Debt components 4 federal debt non-federal debt 76.5 281.9 44.5 165.7 1459.3 4860.9 JOLT AUG. SEPT. 76.7 77.2 78.0 279.2 277.3 280.* 43.7 43.6 43.2 171.6 182.9 187.2 1479.5 1496.7 1546.6 4910.3 4963.6 5018.8 OCT. NOV. DEC. 78.5 79.0 79.5 280.9 299.5 307.1 43.9 43.1 41.1 192.5 196.4 209.5 1518.0 1549.0 1586.3 5074.0 5131.5 5223.7 1986-JAN. FEB. HAfi. 79.9 80.5 81.1 304.1 305.8 298.0 41.5 42.1 41.6 210.6 209.2 209.5 1608.0 1621.1 1628.2 5305. 9 5343.0 5384.1 APR. HAX JUME P 81.8 82.6 83.4 297.2 308.3 304.4 41.0 40.1 40.0 203.0 206.7 206.3 1638.8 1656.2 1677.5 5431.7 5477.0 5517.1 1985-JUNE 1/ savings bonds CQMSISTS OF U . S . TBBASUBY BILLS AID COUPOMS NIX* BEMAINING HATUBITIES OF LESS TUAM 1 2 flOHTiiS tfELD BY OTHER THAN DEPOSITOR! INSTITUTIONS, FEDEfiAL B8SSBVE B i N I S , HONEY flABKET MUTUAL FUNDS AND FOBEIGN ENTITIES. VST OF BANKEBS ACCEPTANCES HELD B I ACCEPTING BANKS, FEDERAL UESEZVB BANKS, FOB E l GN OFFICIAL INSTITUTIONS, THE FEDEBAL HOHS LOAN BANK SISTEfl AND BONEY flABKET HOTUAL FUNDS. TOTAL COHBEBCIAL PAPSB LESS COHflEBCIAL PAPEB HELD BY HONEY flABKET HUTUAL tQUDS, DEBT DATA ABE ON A flONIULY AfSBAGE BASIS, D2UIV&D BY AfEBAGING END-OF-flONTH LEfELS OF ADJACENT MONTHS, AND HAfB BEEM ADJUSTED TO BEflOfE DISCONTINUITIES. H 6 (506) Table 5 COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT Billions of dollars, not seasonally adjusted Nontransactions components Other checkable deposits Travelers Date 1 Currency checks 2 Demand deposits3 at commercial banks4 at thrift institutions* total in M2* 7 in M3 only Overnight RPs* Overnight Eurodollars* General purpose and broker/dealer money market funds 166.8 167.7 167.6 6.5 6.6 6.2 261.8 260.4 265.0 115.0 117.0 119.0 49.5 50.3 51.3 164.5 167.3 170.3 1901.5 1909.1 1912.3 608.6 615.3 622.9 48.4 49.6 50.5 12.4 14.2 14.0 175.8 176.8 176.7 OCT. MOV. DEC 168.4 170.7 173.1 5.9 5.6 5.5 265.6 269.0 2*1.3 119.8 122.6 125.8 52.5 53.8 54.4 172.3 176.4 180.1 1922.0 1928.0 1934.7 628.5 635.0 639.2 50.9 52.$ 53.3 14.3 13.9 17.0 177.0 176.8 176.5 1986-JAN. FEB. MAR. 170.5 170.6 172.3 5.5 5.6 5.8 275.1 262.0 267.1 128.1 126.8 129.3 54.3 54.2 56.0 182.4 181.0 185.3 1945.1 1951.7 1963.9 653.5 662.3 668.2 50.1 52.4 51.2 18.8 16.1 16.3 177.7 181.0 186.2 APE. HAY JURE 173.6 175.8 177.4 5.8 5.9 6.5 27«.7 276.7 285.6 134.8 132.8 136.6 59.9 60.5 63.0 194.7 193.4 199.6 1979.1 1988.9 2003.9 667.6 664. 1 660.6 51.0 51.5 49.4 17.4 17.6 17.0 191.4 19 3.2 197.2 JULX P 179.1 7.2 290.0 139.0 64.6 203.6 2024.3 662.4 54.2 17.7 199.4 198 5 - J O L I AUG. SEPT. •EBK ENDING: 1986-JULZ AUG. 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ 7 14 21 28 180.9 179.6 179.0 177.9 297.1 294.2 289.3 281.4 140.4 139.9 138.7 137.3 65.9 65.3 64.4 62.7 206.3 205.2 203.1 200.0 50.9 53.7 55.1 56.6 16.2 17.6 18.9 18.7 196.7 198.8 200.4 201.1 4 P 11 P 179.5 180.8 290.$ 290.7 141.4 143.3 65.9 66.8 207.3 210. 1 55.1 56.9 16.8 15.8 200.7 201.4 EXCLUDES THE ESTIMATED O O T S I D E THE. U . S . TREASURI. FEDERAL RESERVE BANKS AND THE VAULTS OF COHHERCIAL BANKS. AMOUNT OF VAULT CASH HELD 31 THRIFT INSTITUTIONS TO SERVICE THEIB OCD L I A B I L I T I E S . OUTSTANDING AHO0NT OF U . S . DOLLAR-DENOMINATED TBATELERS CHECKS OF NONBANK ISSUEfiS. TRAVELERS CHECKS ISSUED BT DEPOSIT OR I INSTITUTIONS ABE INCLUDED IN DEHAID DEPOSITS. DEMAND DEPOSITS AT COMMERCIAL BANKS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U . S . GOfERNHENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS, LZSS CASH ITEMS IN THE PROCESS OF COLLECTION AND F . R . FLOAT, LESS THE ESTIMATED AMOUNT OF DEflAND DEPOSITS HELD AT COMMERCIAL BANKS BI THRIFT INSTITUTIONS TO SERflCE THEIR OCD L I A B I L I T I E S . CONSISTS OF NOH AND ATS BALANCES AT COflHERCIAL BANKS, U . S . BRANCHES AND AGENCIES OF FOREIGN BANKS, AND EDGE ACT CORPORATIONS. CONSISTS OF NOH AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND MUTUAL SAVINGS BANKS, CREDIT UNION SHARE DRAFT BALANCES, AND DEHAND DEPOSITS AT THRIFTS. SUB OF OYERNIGHT RPS AND EURODOLLARS, 1I0NEX HAttKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER) # MM DAS AND SAVINGS AND SHALL TIME DEPOSITS LESS THE ESTIMATED AMOUNT OF DEHAND DEPOSITS AND VAULT CASH HELD 0 1 THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSIT L I A B I L I T I E S . SUM OF LARGE TIME DEPOSITS, TERM RPS AND EURODOLLARS OF U . S . RESIDENTS, MONET MARKET FUND BALANCES (INSTITUTION-ONLI| 9 LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE KSIIMATED AMOUNT OF OVERNIGHT RPS AND EOflOWJLLARS HELD BF INSTITUTION-ONLI HONET MARKET MUTUAL FUUDS, CONSISTS OF OVERNIGHT AND CONTINUING CONTRACT bPS ISSUED BX COMMERCIAL BANKS TO OTHER THAN DEPOSITORI INSTITUTIONS ANO MOM El MARKET MUTUAL FUNDS (GENERAL PUB POSE AMU tffiOKER/UEALEK) . ISSUED BK FOREIGN BRANCHES OF U . S . BANKS NORL0W1UE TO U . S . RESIDENTS OTHilB THAN DEPOSITORY INSTITUTIONS AND MONEI MARKET MUTUAL FUNDS (GENERAL PUKPOSE AND ttKOKER/DfiALJiH) . CUBREHCI H.6 (506) Table 5-continued COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT Billions of dollars, not seasonally adjusted Date 1985-JOLT AUG. SEPT. Money market deposit accounts at at thrift commercial total banks institutions at commercial banks Savings deposits at thrift institutions total Small deno at commercial banks nation time deposits1 at thrift total stitutions Large denomination time deposits3 at at thrift commercial total 4 banks institutions 313.2 317.9 321.3 174.0 177.3 178.5 487.2 495.2 499.8 124.4 124.0 123.7 174.6 174.9 175.4 298.9 298.9 299.1 386.5 385.3 385.1 500.6 497.1 495.4 887.1 882.5 880.5 263.0 267.4 272.6 153.1 153.9 155.1 416.1 421.4 427.6 OCT. MOV. DEC. 324.3 329.2 332.4 179.8 180.3 179.6 504.1 509.5 512.0 124.6 124.J 12J.i> 178.3 179.0 178.3 302.9 303.3 301.8 384.8 J84.2 384.8 496.5 496.4 497.6 881. i 880.7 882.5 276.3 278.2 280.9 156.2 157.1 157.8 432.5 435.3 438.7 1986-JAN. HAS. 336.7 337.0 340.4 179.0 179.4 180.2 515.7 516.3 520.5 123.9 123.6 124.9 178.8 179.1 181.6 J02.7 302.7 306.5 386.5 387.1 387.2 502.6 504.6 504.6 889.1 891.7 891.8 288.5 290.4 287.7 159.0 160.7 163.2 447.6 451.0 450.8 APR. HAT JUNE 344.8 348.6 355. 2 180.4 182.2 185.2 525.2 530.8 540.4 127.2 129.5 132.2 185.8 190. J 194.a 312.9 319.9 327.0 384.5 382.3 380.7 505.4 502.4 bO1.2 889.9 884.7 881.9 283.6 280.8 279.3 164.1 164.4 164.1 447.6 445.1 443.4 JULI P 359.0 187.2 546.2 135.1 198.8 333.9 J79.9 502.3 882.1 279.6 164.6 444.4 MEEK ENDING 1986 J0LI AUG. 1/ 2/ 3/ 4/ 7 14 21 28 357.6 358.6 359.1 359.9 134.6 134.8 135. S 135.3 380.6 380.3 379.6 379.4 279.9 278.1 280.3 280.8 4 P 11 P 360.9 362.3 135.9 136.9 378.7 378.4 279.6 2*1.5 SAVINGS DEPOSITS EXCLUDE AHDAS. SHALL DENOHINATION TIHE DEPOSITS — INCLUDING RETAIL 8PS — ABE THOSE ISSUED IH AHOUHTS OF L&SS THAU $100,000. ALL INDIUDUAL HETIREHENT ACCOUNTS (1BA) AND KEOGM ACCOUNTS AT COHHERC1AL BANKS AND THRIFTS ARE SUBTRACTED FROH SHALL TIHE DEPOSITS. LARGE DENOHINATION TIHE DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF $100,000 OH HORE, EXCLUDING THOSE BOOKED AT INTERNATIONAL BANKING FACILITIES (IBFS). LARGE DENOHINATION TIHE DEPOSITS AT COHHERCIAL BANKS LESS THOSE HELD D¥ BOMEI HARKET HUTUAL FVHDS, DEPOSITOR! INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS. M.6(508) labte 5-continued COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT Billions of dollars, not seasonally adjusted Term R f V Oat« 1985-JULT Institution only money market funds at commercial banks at thrift institutions total Term Eurodollars1 Savings bonds Non M3 Components of L Short-term Bankers treasury acceptances securities' Components of Debt Commercial paper* Federal debt9 Non-Federal* debt 65.0 63.6 62.3 29.9 30.6 31.2 25.9 26.7 27.5 55.8 57,3 58.6 77.6 78.8 70.9 76.6 77.1 78.0 279.9 280.4 281.3 43.5 44. J 43.9 173.1 181.0 187.8 1475.8 1495.8 1506.9 4894.5 4945.7 5003.0 63.3 64.5 64.6 30.5 31.7 32.1 29.2 31.0 33. i 59.8 63.3 66.0 78.2 78.4 76.7 78.5 79.0 79.6 280.7 295.7 304.3 43.8 43.3 42.1 193.4 199.1 204.6 1515.6 1544.2 1583.7 5062.9 5123.2 5220.3 67.3 67.7 70.2 33.7 35.8 37.2 35.1 34.6 34. 2 68.8 70.5 71.4 76.0 79*2 82.7 80.0 80.5 81.1 303.8 306.7 304.2 42.2 41.9 40.7 207.5 208.8 207.9 1606.7 1621.0 1633.3 5300.5 5323.6 5352.0 JONS 74.1 76.1 75.0 35.6 34.8 32.6 35.6 J8-2 40.8 71.2 73.0 73.4 81.0 78.3 77.6 81.8 82.6 83.4 299*8 301.9 301.7 39.9 39.6 39.5 205.2 207.0 208.9 1644.6 166Q.6 1678.7 5397.3 5447.0 5494.7 JULT P 77.5 31.8 41.de 73. 6e 76.1 7 14 21 28 75.4 75.8 78.5 79.5 31.6 31.7 31.1 32.4 4 P 11 P 79.8 80.4 32.6 32.6 AUG. SEPT. OCT. NO?. DEC 198 6-JAN. FEB. HAS. APR. HAT REEK ENDING; 1986-JULI AUG. 1/ 2/ 3/ 4/ 5/ 6/ ' TEBH BPS ARE THOSB HUH ORIGINAL BATOBITIES GREATER THAN OMB D A I , EXCLUDING CONTINUING CONTRACTS AND RETAIL BPS. INCLUDES A RELATIVELY SHALL AHOUMT OP OVERNIGHT BPS AT TflBIFT INSTITUTIONS. IEBR EUBOOOLLABS ABE THOSE BITH OfilGINAL MATURITIES GREATER THAN ONE OAT. CONSISTS OP THOSE ISSUED TO U . S . BESIDENTS BI FOREIGN BRANCHES OP U . S . BANKS WORLDWIDE AND flY ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA. EXCLUDES THOSE HELD BY OEPOSITOBI INSTITUTIONS AND HONEI flARKET MUTUAL FUNDS. CONSISTS OF U . S . TBEASUfll BILLS AND COUPONS WITH BEflAlNING HATUBITIES OF LESS THAN 12 MONTHS HELD BI OTHER THAN DEPOSITORI INSTITUTIONS, FEDEBAL RESERVE BANKS, flONEI MARKET BUXUAL FUNDS, AND FOBEIGN ENTITIES. NET OF BANKERS ACCEPTANCES HELD BT ACCEPTING UANKS, FEDEBAL RESERVE BANKS, FOBEIGN OFFICIAL INSTITUTIONS, THE FEDERAL HOME LOAN BANK SYSTEM AND MONEY HABKET MUTUAL FUHDS. TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BT MONET HABKET MUTUAL FUNDS. DEfiT DATA ABE ON A HOHTHLT AVERAGE BASIS, DERIVED til AVERAGING END-OP-MONTH LEVELS OF ADJACENT MONTHS, AND HAVE BEEN ADJUSTED TO BEHOVE DISCONTINUITIES. H 6 (508) Table 6 MEMORANDUM ITEMS Billions of dollars, not seasonally adjusted Demand deposits at banks due tc Date foreign commercial banks foreign official institutions Time and savings deposits due to foreign commercial banks and foreign official institutions U.S. government deposits demand deposits at commercial banks balances at Federal Reserve Banks note balances at commercial banks and thrift institutions total demand deposits and note and FR balances IRA and Keogh Accounts time and savings deposits at commercial banks commercial banks thrift institutions money market mutual funds total 8.1 7.8 8.1 1.9 2.0 2.1 8.3 8.2 8.2 3.1 2.8 3.4 4.0 3.0 4.J 20.0 10.6 13.4 27.0 16.4 21.1 1.2 1.3 1.3 56.7 57.4 57.8 75.3 76.8 78.1 8.5 8.4 B.i 140.4 142.6 144.3 OCT. •Of. DBC. 8.2 8.1 8.5 1.9 2.1 1.9 8.3 6.4 8.3 3.0 3.0 3.4 3. 1 2.8 3.4 2.4 4.8 11.1 8.5 10.7 17.9 1.3 1.3 1.4 58.2 56.7 59.2 79.0 79.5 80.9 8.4 8.4 8.3 145.7 146.6 148.4 1 9 8 6 - JAE. WEB. BA&. 8.8 8.3 8.4 2.0 1.9 1.8 8.0 7.8 7.6 3.2 3mi 10.5 7.5 3.4 20.5 21.0 12.4 34.5 31.7 19.2 1.3 1.4 1.4 60.7 62.5 64.2 81.9 82.9 86.4 8.6 8.7 9.0 151.2 154.2 159.5 APB. HA I JUIB 8.7 8.8 8.8 1.9 1.8 1.8 7.5 7.4 7.3 3-7 4.8 2.9 13.6 18.7 12.6 21.5 26.5 18.9 1.5 1.5 1.7 68.4 69.5 70.1 90.1 91.2 91. 8e 9.8 3.0 3.5 10. 1 10. 3e 168.2 170.8 172.2e JOLI P 9.1 2.0 7.2 3.6 3.« 13.2 20.5 1.6 70.8 93. 5e 10. 4e 174.7e 14 21 28 9.0 9.4 9.0 9.2 2.1 2.1 1.8 7.2 7.2 7.2 7.2 5.7 2.6 3.8 2.4 3.8 3.7 3.9 3.9 12.4 11.6 13.1 16.1 21.9 17.9 20.9 22.5 1.6 1.6 1.6 1.6 4p 11 P 8.6 9.2 1.9 1.9 7.2 7.2 3.1 3.0 3.3 3.9 11.9 18.3 13.4 1.6 1.6 1985-JULI AUG. SfiPT. IUK 1986 JOLT AUG. 3.<> 4.2 EM0II6: 7 • * estimated 1.9 6.5 SPECIAL SUPPLEMENTARY TABLE Monthly Survey of Selected Deposits and Other Accounts At All Insured Commercial Banks and All Mutual Savings Banks 1 June 25, 1986 and July 30, 1986 (not seasonally adjusted) Liability Categories Insured Commercial Banks Amount Outstanding^($mil) Average Rate Paid (%) June 25 July 30 June 25 July 30 Number of Issuing Banks June 25 July 30 NOW accounts 2 128,548 135,227 5.43 5.33 13,605 13,565 Money market deposit accounts-* 355,156 360,916 5.96 5.69 13,150 13,111 Savings accounts* 132,480 135,878 5.43 5.36 13,451 13,473 Interest-bearing time deposits with balances of less than $100,000 with original maturities of:* 7 to 31 days (standard error of the estimate) 5,570 (436) 6,157 (406) 6.15 5.96 8,777 8,126 32 to 91 days (standard error of the estimate) 19,918 (702) 19,785 (937) 6.26 6.01 12,974 12,317 92 to 182 days (standard error of the estimate) 140,225 (1,773) 139,765 (2,098) 6.55 6.24 13,953 13,267 183 days to 1 year (standard error of the estimate) 72,137 (1,515) 72,712 (1,613) 6.77 6.44 13,343 12,700 over 1 year to 2-1/2 years (standard error of the estimate) 85,268 (1,786) 84,958 (1,561) 7.12 6.79 13,620 12,987 2-1/2 years and over (standard error of the estimate) 123,282 (2,370) 122,652 (1,856) 7.38 7.08 13,503 12,747 All IRA/Keogh Plan deposits 6 (standard error of the estimate) 70,404 (320) 71,145 (334) N.A. N.A. 13,465 13,426 Retail repurchase agreements' (standard error of the estimate) 1,697 (290) 1,432 (293) 6.09 5.78 2,823 2,625 Liability Categories NOW accounts 2 State-Chartered Mutual Savings Banks Average Rate Paid (%) Number of Issuing Banks Amount Outstanding ($mil) June 25 July 30 June 25 July 30 June 2~5* July 30 4,183 4,504 5.47 5.41 340 291 Money market deposit accounts^ 30,954 31,572 6.25 6.05 328 329 Savings accounts* 27,633 27,816 5.49 5.49 341 335 Interest-bearing time deposits with balances of less than $100,000 with original maturities of:^ 7 to 31 days (standard error of the estimate) 164 (22) 155 (18) 6.06 5.88 102 102 32 to 91 days (standard error of the estimate) 1,492 (252) 1,576 (332) 6.63 6.19 275 275 92 to 182 days (standard error of the estimate) 19,067 (255) 18,819 (234) 6.83 6.56 323 324 183 days to 1 year (standard error of the estimate) 12,768 (255) 12,868 (271) 7.08 6.87 337 338 over 1 year to 2-1/2 years (standard error of the estimate) 12,656 (272) 12,754 (182) 7.37 7.12 326 327 2-1/2 years and over (standard error of the estimate) 21,067 (246) 21,133 (228) 7.71 7.47 342 344 All IRA and Keogh Plan deposits 6 (standard error of the estimate) 11,501 (252) 11,617 (258) N.A. N.A. 338 340 96 (41) 88 (52) 6.54 6.60 12 12 Retail repurchase agreements' (standard error of the estimate) N.A. - Data not available. 1. Estimates are based on data collected by the Federal Reserve from a stratified random sample of about 550 banks and 75 mutual savings banks. 2. As of January 1, 1986 Interest rate ceilings were removed from all NOW accounts. Beginning with the January 1986 data the NOW account category Includes all NOW accounts, Including those accounts which were subject to a 5.25 percent regulatory Interest rate restriction prior to January 1, 1986. Estimates for this category are based on reports of deposits. The NOW account rate Is reported as a simple annual rate. 3. Money market deposit accounts (MMDAs)—Deposits with no required minimum maturity but institutions must reserve the right to require at least seven day's notice prior to withdrawal, no restrictions on depositor eligibility, or limitations on the amount of Interest that may be paid; such accounts may allow up to six transfers per month, no more than three of which may be draft and may permit unlimited withdrawals by mall, messenger, or in person. Estimates for this category are based on reports of deposits. The MMDA rate is reported as a simple annual rate. 4. Savings deposits that, because of restrictions on transactions, do not meet the definition of an MMDA. Estimates for this category are based on reports of deposits. The savings account rate is reported as a simple annual rate. 5. All interest-bearing time certificates and open account time deposits with balances of less than $100,000, Including those held in IRAs and Keogh Plan deposits. With the exception 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. 6. All IRA/Keogh Plan time deposits regardless of size, type of Instrument in which held, or Interest rate paid. 7. Retail repurchase agreements are in denominations of less than $100,000 with maturities of less than 90 days that arise from the transfer of direct obligations of, or obligations fully-guaranteed as to principal and Interest hy, the U.S. Government or an agency thereof.
@FedFRASER