Full text of H.6 Money Stock Measures : August 31, 2006

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

MONEY STOCK MEASURES

For release at 4:30 p.m. Eastern Time

Billions of dollars

August 31, 2006

Date

M1

1

M2

2

M1

1

Seasonally adjusted

M22
Not seasonally adjusted

2004-Aug.
Sep.
Oct.
Nov.
Dec.

1354.2
1360.6
1360.9
1374.3
1372.3

6305.4
6335.4
6358.5
6394.2
6413.2

1352.5
1349.8
1351.3
1370.9
1401.5

6300.9
6332.9
6352.8
6403.9
6448.1

2005-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1367.2
1369.6
1373.1
1366.6
1371.3
1375.5
1369.9
1377.5
1374.1
1374.5
1375.2
1368.7

6428.7
6449.4
6469.2
6476.3
6485.0
6512.2
6533.2
6564.3
6595.1
6624.5
6643.9
6671.8

1362.7
1355.5
1382.3
1372.4
1369.3
1383.4
1364.5
1376.3
1362.6
1364.0
1373.2
1396.7

6408.1
6409.4
6472.0
6519.1
6463.7
6515.2
6536.3
6559.9
6592.3
6618.1
6657.1
6709.3

2006-Jan.
Feb.
Mar.
Apr.
May
June
July

1382.2
1375.9
1384.9
1390.6
1393.6
1369.8
1372.3

6733.1
6752.1
6767.2
6789.8
6796.4
6829.8
6852.3

1377.1
1362.1
1394.3
1396.7
1391.7
1377.5
1366.0

6702.9
6709.0
6772.8
6836.4
6774.5
6832.1
6852.9

M1
-5.3
-1.4
0.2

M2
3.7
3.5
4.9

Percent change at seasonally adjusted annual rates
3 Months from Apr. 2006 TO July 2006
6 Months from Jan. 2006 TO July 2006
12 Months from July 2005 TO July 2006
1.

M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) traveler's checks of nonbank issuers; (3) demand deposits at
commercial banks (excluding those amounts held by depository institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection
and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at depository
institutions, credit union share draft accounts, and demand deposits at thrift institutions. Seasonally adjusted M1 is constructed by summing currency, traveler's checks, demand
deposits, and OCDs, each seasonally adjusted separately.

2.

M2 consists of M1 plus (1) savings deposits (including money market deposit accounts); (2) small-denomination time deposits (time deposits in amounts of less than $100,000), less
individual retirement account (IRA) and Keogh balances at depository institutions; and (3) balances in retail money market mutual funds, less IRA and Keogh balances at money market
mutual funds. Seasonally adjusted M2 is constructed by summing savings deposits, small-denomination time deposits, and retail money funds, each seasonally adjusted separately, and
adding this result to seasonally adjusted M1.

p preliminary
Components may not add to totals due to rounding.



Page 2
H.6 (508)
Table 2

MONEY STOCK MEASURES
Percent change at seasonally adjusted annual rates
Period ending

13-week
average

M1
4-week
average

week
average

13-week
average

M2
4-week
average

week
average

13-week
average

M1
4-week
average

Seasonally adjusted

week
average

13-week
average

M2
4-week
average

week
average

Not seasonally adjusted

29

1388.4

1392.5

1404.5

6782.2

6792.3

6811.2

1393.2

1389.9

1442.5

6793.7

6772.3

6756.6

June

5
12
19
26

1388.9
1388.8
1386.8
1385.6

1392.6
1385.2
1375.2
1367.4

1382.7
1356.3
1357.1
1373.5

6784.9
6789.6
6794.7
6801.2

6801.8
6808.2
6816.1
6825.7

6808.2
6806.6
6838.5
6849.4

1394.5
1394.0
1391.7
1389.8

1395.0
1387.5
1378.8
1372.2

1369.6
1334.8
1368.1
1416.1

6797.5
6802.8
6808.1
6812.1

6786.7
6799.8
6819.4
6831.3

6831.7
6841.8
6847.4
6804.1

July

3
10
17
24
31

1383.9
1383.8
1381.4
1379.0
1378.6

1372.4
1376.6
1375.5
1375.0
1369.9

1402.5
1373.2
1352.8
1371.6
1382.1

6807.6
6814.9
6819.7
6823.9
6826.5

6841.2
6854.6
6860.2
6861.8
6850.8

6870.1
6860.4
6860.7
6855.8
6826.1

1388.3
1387.1
1382.9
1379.6
1378.7

1387.5
1387.1
1377.5
1368.0
1361.0

1431.1
1333.2
1329.4
1378.4
1402.9

6815.3
6817.9
6816.1
6816.3
6819.9

6836.7
6848.6
6854.4
6858.7
6847.8

6853.5
6889.3
6870.8
6821.3
6809.7

Aug.

7
14p
21p

1376.8
1373.8
1371.7

1366.2
1364.8
1364.3

1358.4
1347.1
1369.7

6832.6
6837.8
6843.7

6847.9
6844.8
6851.9

6849.0
6848.1
6884.4

1376.8
1373.8
1371.8

1358.8
1357.7
1357.4

1324.5
1325.1
1377.1

6828.2
6834.9
6843.0

6846.0
6847.2
6860.8

6882.1
6875.7
6875.5

2006-May

Percent change at seasonally adjusted annual rates
Thirteen weeks ending August 21, 2006
from thirteen weeks ending:
May 22, 2006 (13 weeks previous)
Feb. 20, 2006 (26 weeks previous)
Aug. 22, 2005 (52 weeks previous)

M1

M2

-4.5
-0.5
-0.2

3.8
4.1
4.8

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 preliminary
Components may not add to totals due to rounding.




Page 3

H.6 (508)
Table 3

SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars
Other Checkable Deposits
Currency1

Date

4.
5.

Demand Deposits3

At commercial banks4

At thrift institutions5

Total

2005-Mar.

702.9

7.5

339.2

183.6

139.9

323.5

Apr.
May
June

703.9
705.7
708.4

7.5
7.5
7.4

331.2
332.8
339.7

184.3
185.0
183.0

139.7
140.3
137.1

324.0
325.3
320.1

July
Aug.
Sep.

710.0
712.8
716.1

7.3
7.4
7.3

334.4
336.8
330.5

181.7
183.0
181.7

136.5
137.5
138.4

318.2
320.5
320.1

Oct.
Nov.
Dec.

717.4
720.1
723.5

7.3
7.3
7.3

331.0
328.6
320.8

180.4
180.5
179.9

138.4
138.6
137.3

318.8
319.2
317.2

2006-Jan.
Feb.
Mar.

729.4
733.8
736.6

7.2
7.1
6.9

326.2
318.3
322.2

181.6
178.9
180.6

137.8
137.7
138.5

319.4
316.7
319.2

Apr.
May
June

739.0
742.7
740.8

6.8
6.9
7.0

326.3
326.9
312.0

180.6
181.0
177.3

137.8
136.1
132.7

318.4
317.1
310.0

July

740.2

6.8

318.2

175.2

131.9

307.1

741.2

6.9

316.6

175.5

133.3

308.8

Week Ending:
2006-June 26

1.
2.
3.

Traveler's Checks2

July

3
10
17
24
31

739.4
739.9
740.0
740.5
740.2

6.9
6.9
6.8
6.8
6.8

339.7
316.9
303.7
320.2
326.1

182.5
177.8
172.3
172.8
175.5

134.0
131.8
129.8
131.3
133.5

316.5
309.6
302.2
304.1
309.0

Aug.

7
14p
21p

739.6
740.6
741.6

6.8 e
6.8 e
6.8 e

307.4
298.7
317.7

172.5
172.3
172.3

132.1
128.8
131.2

304.6
301.1
303.6

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated traveler's checks of nonbank issuers. Traveler's checks issued by depository institutions are included in demand deposits.
Demand deposits at domestically chartered commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations (excluding those amounts held by depository
institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float.
NOW and ATS balances at domestically chartered commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
NOW and ATS balances at thrift institutions, credit union share draft balances, and demand deposits at thrift institutions.

e estimated
p preliminary
Components may not add to totals due to rounding.



Page 4

H.6 (508)
Table 4

SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars
Small-denomination time deposits2

Savings deposits1
At commercial
banks

Date

3.
4.

Total

At commercial
banks

At thrift
institutions

Total

Retail
money funds3

Total
Non-M1 M2

Memorandum:
Institutional
money funds4

2005-Mar.

2664.9

878.1

3543.0

569.9

284.5

854.4

698.7

5096.1

1050.7

Apr.
May
June

2673.5
2662.9
2673.6

867.5
870.3
868.8

3541.0
3533.2
3542.4

577.7
587.6
597.5

290.7
296.7
302.0

868.4
884.3
899.5

700.3
696.2
694.8

5109.7
5113.7
5136.7

1058.9
1059.4
1070.8

July
Aug.
Sep.

2691.1
2697.9
2719.5

862.5
865.3
859.4

3553.6
3563.2
3579.0

608.2
617.7
626.4

306.2
312.4
317.4

914.5
930.0
943.8

695.3
693.6
698.3

5163.3
5186.9
5221.0

1080.5
1093.2
1109.4

Oct.
Nov.
Dec.

2735.0
2744.2
2771.7

858.3
855.1
850.0

3593.2
3599.4
3621.7

623.6
629.4
637.5

330.7
335.8
338.8

954.3
965.2
976.3

702.5
704.1
705.1

5250.1
5268.7
5303.1

1121.3
1122.7
1138.3

2006-Jan.
Feb.
Mar.

2789.4
2793.1
2784.9

858.4
864.3
855.9

3647.8
3657.3
3640.8

645.6
654.0
662.8

343.5
348.7
354.2

989.1
1002.7
1017.0

714.0
716.1
724.5

5350.9
5376.2
5382.3

1152.5
1149.8
1156.8

Apr.
May
June

2799.4
2774.2
2789.0

840.7
845.7
848.8

3640.0
3619.9
3637.9

669.6
677.9
688.4

360.3
366.7
373.8

1029.9
1044.6
1062.1

729.2
738.3
760.0

5399.2
5402.8
5460.0

1170.9
1186.2
1201.6

July

2779.6

842.7

3622.3

701.8

382.4

1084.2

773.5

5480.0

1212.6

2779.8

859.6

3639.4

691.6

375.3

1066.9

769.6

5475.9

1204.7

Week Ending:
2006-June 26

1.
2.

At thrift
institutions

July

3
10
17
24
31

2777.2
2799.2
2807.3
2774.8
2732.8

848.4
840.2
847.8
846.3
837.9

3625.6
3639.4
3655.1
3621.1
3570.7

694.3
696.9
700.3
704.8
708.3

377.7
379.7
381.8
383.7
386.0

1072.0
1076.6
1082.2
1088.5
1094.3

770.0
771.2
770.7
774.6
779.0

5467.6
5487.2
5507.9
5484.2
5444.0

1210.4
1216.9
1211.1
1208.7
1215.0

Aug.

7
14p
21p

2771.4
2768.8
2769.8

837.2
845.5
851.4

3608.6
3614.2
3621.2

710.9
712.8
715.8

388.5
390.2
393.0

1099.4
1103.0
1108.8

782.6
783.7
784.7

5490.6
5500.9
5514.7

1234.7
1228.5
1239.9

Savings deposits include money market deposit accounts.
Small-denomination time deposits are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial banks and thrift institutions are subtracted from
small time deposits.
IRA and Keogh account balances at money market mutual funds are subtracted from retail money funds.
Institutional money funds are not part of non-M1 M2.

p preliminary
Components may not add to totals due to rounding.



Page 5

H.6 (508)
Table 5

NOT SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars
Other Checkable Deposits
Currency1

Date

4.
5.

Demand Deposits3

At commercial banks4

At thrift institutions5

Total

2005-Mar.

702.6

7.4

345.3

186.6

140.3

326.9

Apr.
May
June

703.9
705.2
708.5

7.4
7.4
7.4

328.8
331.3
345.4

188.5
184.5
183.1

143.7
140.7
139.1

332.2
325.2
322.2

July
Aug.
Sep.

711.4
712.3
714.3

7.5
7.5
7.4

329.0
336.6
325.4

178.3
181.6
178.2

138.2
138.2
137.3

316.5
319.8
315.5

Oct.
Nov.
Dec.

715.7
720.3
728.9

7.2
7.1
7.2

326.9
329.3
338.0

176.6
177.9
184.9

137.5
138.5
137.8

314.2
316.5
322.6

2006-Jan.
Feb.
Mar.

727.3
733.6
736.9

7.2
7.0
6.9

321.3
311.3
328.4

186.5
176.5
183.7

134.9
133.6
138.5

321.4
310.1
322.2

Apr.
May
June

738.7
741.9
741.1

6.8
6.9
7.0

324.5
325.8
317.6

184.7
180.7
177.6

142.1
136.4
134.1

326.8
317.1
311.7

July

741.1

7.0

312.4

171.7

133.7

305.4

739.8

7.0

352.8

182.3

134.1

316.5

Week Ending:
2006-June 26

1.
2.
3.

Traveler's Checks2

July

3
10
17
24
31

742.2
743.7
740.7
739.5
739.0

7.0
7.0
7.0
7.0
7.0

356.5
281.3
287.1
328.8
341.4

184.8
168.8
165.4
171.0
177.8

140.6
132.5
129.2
132.0
137.8

325.4
301.2
294.6
303.0
315.5

Aug.

7
14p
21p

741.8
741.3
740.4

7.0 e
6.9 e
6.9 e

276.0
283.1
326.9

167.0
165.9
171.6

132.7
127.8
131.3

299.7
293.7
302.9

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated traveler's checks of nonbank issuers. Traveler's checks issued by depository institutions are included in demand deposits.
Demand deposits at domestically chartered commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations (excluding those amounts held by depository
institutions, the U.S. government, and foreign banks and official institutions) less cash items in the process of collection and Federal Reserve float.
NOW and ATS balances at domestically chartered commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
NOW and ATS balances at thrift institutions, credit union share draft balances, and demand deposits at thrift institutions.

e estimated
p preliminary
Components may not add to totals due to rounding.



Page 6

H.6 (508)
Table 6

NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars
Small-denomination time deposits2

Savings deposits1
At commercial
banks

Date

3.
4.

Total

At commercial
banks

At thrift
institutions

Total

Retail
money funds3

Total
Non-M1 M2

Memorandum:
Institutional
money funds4

2005-Mar.

2656.6

875.4

3532.0

569.8

284.5

854.3

703.5

5089.8

1053.6

Apr.
May
June

2699.2
2651.5
2673.2

875.8
866.5
868.6

3575.0
3518.0
3541.8

577.9
588.0
597.9

290.9
296.9
302.2

868.8
884.9
900.0

702.9
691.6
689.9

5146.7
5094.4
5131.7

1048.0
1040.7
1061.6

July
Aug.
Sep.

2700.8
2696.4
2727.9

865.6
864.8
862.1

3566.4
3561.2
3590.0

608.6
618.2
626.6

306.4
312.6
317.5

915.0
930.8
944.1

690.4
691.7
695.5

5171.8
5183.6
5229.7

1068.9
1090.9
1106.7

Oct.
Nov.
Dec.

2740.3
2756.0
2776.0

859.9
858.8
851.3

3600.2
3614.8
3627.3

623.4
629.0
636.9

330.6
335.6
338.5

954.0
964.5
975.4

700.0
704.6
709.9

5254.1
5283.9
5312.6

1115.3
1124.7
1158.4

2006-Jan.
Feb.
Mar.

2767.1
2767.8
2778.8

851.5
856.5
854.1

3618.6
3624.3
3632.9

644.8
653.5
662.7

343.2
348.5
354.2

988.0
1002.0
1016.9

719.2
720.5
728.8

5325.8
5346.9
5378.5

1175.8
1163.2
1159.3

Apr.
May
June

2827.9
2761.4
2788.0

849.3
841.8
848.5

3677.2
3603.2
3636.5

670.0
678.5
689.0

360.5
367.0
374.1

1030.5
1045.4
1063.1

731.9
734.1
755.0

5439.6
5382.8
5454.6

1160.4
1168.1
1191.8

July

2788.6

845.5

3634.1

702.4

382.7

1085.1

767.8

5487.0

1201.4

2717.3

840.2

3557.6

692.0

375.6

1067.6

763.0

5388.1

1200.7

Week Ending:
2006-June 26

1.
2.

At thrift
institutions

July

3
10
17
24
31

2750.3
2855.3
2836.3
2745.9
2708.3

840.2
857.1
856.5
837.5
830.4

3590.5
3712.4
3692.8
3583.4
3538.7

694.8
697.6
701.0
705.2
708.7

378.1
380.1
382.1
383.9
386.2

1072.9
1077.7
1083.1
1089.1
1094.9

759.0
765.9
765.4
770.4
773.2

5422.4
5556.1
5541.4
5443.0
5406.8

1188.4
1202.1
1201.2
1204.7
1203.5

Aug.

7
14p
21p

2826.1
2809.8
2757.4

853.7
858.0
847.5

3679.7
3667.7
3604.9

711.6
713.5
716.4

388.9
390.6
393.3

1100.4
1104.1
1109.7

777.5
778.8
783.7

5557.6
5550.6
5498.4

1221.0
1224.4
1239.5

Savings deposits include money market deposit accounts.
Small-denomination time deposits are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial banks and thrift institutions are subtracted from
small time deposits.
IRA and Keogh account balances at money market mutual funds are subtracted from retail money funds.
Institutional money funds are not part of non-M1 M2.

p preliminary
Components may not add to totals due to rounding.



Page 7
H.6 (508)
Table 7

OTHER MEMORANDUM ITEMS
Billions of dollars, not seasonally adjusted
Demand deposits at banks
due to
Date
Foreign
commercial
banks

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

Demand
deposits at
commercial
banks

Balance at
Federal
Reserve

Note
balances at
depository
institutions1

IRA and Keogh accounts

Total cash
balance

Time and
savings
deposits at
commercial
banks

At
commercial
banks

At thrift
institutions

At money
market
funds

Total

2005-Mar.

7.3

1.3

19.4

1.4

4.7

21.1

27.2

2.4

168.8

101.3

158.7

428.8

Apr.
May
June

7.2
7.1
7.0

1.3
1.3
1.3

19.8
20.8
21.8

3.1
1.3
1.5

5.2
5.1
5.0

26.5
29.3
24.6

34.9
35.7
31.0

2.3
2.1
1.8

169.0
169.1
169.3

101.5
101.9
102.3

158.8
158.7
158.5

429.3
429.7
430.1

July
Aug.
Sep.

7.0
7.1
7.1

1.2
1.1
1.0

22.7
23.3
23.9

1.1
1.1
1.2

4.8
5.0
5.3

13.7
7.5
28.3

19.6
13.6
34.8

1.8
1.9
2.0

169.5
169.9
170.2

102.7
102.9
103.2

159.1
160.6
162.0

431.3
433.4
435.4

Oct.
Nov.
Dec.

7.2
7.1
7.1

1.0
1.0
1.0

24.9
26.3
27.6

1.2
1.1
1.2

4.9
4.9
5.1

18.7
8.9
23.0

24.8
14.9
29.4

2.0
1.8
1.5

170.4
170.5
170.5

103.3
103.2
103.1

163.9
166.2
168.5

437.6
439.8
442.1

2006-Jan.
Feb.
Mar.

7.1
7.3
7.5

1.1
1.3
1.6

27.7
27.0
26.2

1.4
1.0
1.1

4.9
5.2
5.0

28.9
17.1
11.4

35.2
23.3
17.5

1.5
1.5
1.5

171.9
174.4
176.8

103.3
103.8
104.3

170.1 e
171.1 e
172.1 e

445.4 e
449.3 e
453.3 e

Apr.
May
June

7.6 e
7.6 e
7.6 e

1.6 e
1.6 e
1.6 e

25.9 e
25.9 e
25.9 e

2.2
1.1
2.5

5.0
5.3
5.1

21.9
41.5
27.1

29.1
47.9
34.7

1.5 e
1.5 e
1.5 e

178.0 e
178.0 e
178.0 e

104.6 e
104.6 e
104.6 e

172.6 e
172.6 e
172.6 e

455.3 e
455.3 e
455.3 e

July

7.6 e

1.6 e

25.9 e

1.2

5.0

14.2

20.4

1.5 e

178.0 e

104.6 e

172.6 e

455.3 e

2.9

5.2

50.3

58.3

Week ending:
2006-June 26

1.

U.S. Government deposits

July

3
10
17
24
31

1.2
1.2
1.4
1.0
1.1

5.1
5.3
4.9
5.1
4.7

43.7
15.9
10.3
7.9
11.3

50.0
22.4
16.5
14.0
17.1

Aug.

7
14p
21p

1.1
1.0
1.1

5.0
4.8
4.6

4.7
1.9
10.7

10.7
7.7
16.4

Source: Daily Treasury statement.

e estimated
p preliminary
Components may not add to totals due to rounding.
Note: Current and historical H.6 data are available each week on the Federal Reserve Board's web site (http://www.federalreserve.gov/). Monthly data are available back to
January 1959, and weekly data are available back to January 1975 for most series. For information about individual copies or subscriptions, contact Publications Services at the

Federal
Reserve Board (phone 202-452-3245, fax 202-728-5886). For paid electronic access to current and historical data, call STAT-USA at 1-800-782-8872 or 202-482-1986.