Full text of H.6 Money Stock Measures : August 6, 1992
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•iSiSSdi FEDERAL RESERVE statistical release ^LRt H.6 ( 5 0 8 ) Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES AUGUST Billions of dollars Date M1 J M2* 6, 1992 DEBT5 M3 3 Seasonally adjusted 1990-JULY AUG. SEP. OCT. NOV. DEC. 810.1 816.2 822.9 822.3 823.8 826.1 3300.2 3315.8 3331.0 3334.5 3333.7 3339.0 4090. 4106. 4115, 4117. 4115. 4114. 4930.1 4939.4 4964.2 4962.5 4960.2 4966.6 10499.4 10564.2 10616.5 10653.9 10707.3 10747.0 1991-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 826.2 836.2 842.3 842.7 850.9 857.3 860.0 866.5 872.0 880.9 891.4 898.1 3344.0 3369.4 3386.9 3394.8 3405.6 3411.8 3407..4 3409..5 3411..5 3417..3 3430..9 3438..9 4125.8 4160.2 4165.9 4168.8 4170.5 4167..7 4157..3 4156..6 4152..6 4158..7 4166..5 4170..4 4981.8 5008.7 5004.2 4978.4 4958.3 4986.4 4991.5 4985.1 4974.2 4977.7 4990.7 4989.3 10776.0 10825.4 10862.8 10883.9 10934.0 10983.5 11017.4 11056.6 11094.7 11135.6 11177.5 11203.6 1992-JAN. FEB. MAR. APR. MAY JUNE 910.4 931.0 939.0 942.9 954.5 952.2 3448.0 3475.5 3473.9 3468.1 3469.5 3458.7 4174.5 4200.2 4190.5 4175.7 4173.1 4157.9 4982.9 5011.9 5019.5 5010.3 5001.2 p 11231.9 11274.8 11325.0 11373.1 11420.0 p Not seasonally adjusted 1990-JULY AUG. SEP. OCT. NOV. DEC. 812.5 814.2 818.7 817.6 826.1 844.1 3303.7 3315.6 3323.8 3330.4 3336.9 3351.9 4092.4 4109.7 4108.9 4109.2 4118.5 4124.7 4921.6 4934.3 4956.0 4953.7 4967.8 4986.4 10450.5 10512.8 10568.8 10617.2 10679.3 10734.2 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..7 3408..0 3410..5 3409..1 3403..7 3412..7 3434..2 3452.8 4129.7 4150.8 4171.6 4183. 4156. 4165. 4158. 4160. 4144. 4149. 4168. 4181. 4999.8 5003.5 5011.5 4990.9 4943.3 4974.5 4983.0 4979.7 4965.1 4967.6 4998.1 5009.6 10764.2 10795.8 10825.8 10843.8 10887.6 10933.9 10966.8 11004.8 11048.7 11097.0 11146.1 11190.2 1992-JAN. FEB. MAR. APR. MAY JUNE 918.2 916.8 930.8 954.8 944.3 952.5 3455.9 3462.7 3474.5 3486.2 3451.8 3454.6 4179.6 4189.7 4195.6 4192.4 4158.8 4155.0 5001.0 5005.2 5026.4 5025.2 4984.6 p 11219.6 11242.4 11287.6 11336.3 11375.8 p Footnotes appear on the following page, p—indicates preliminary data. H.6 ( 5 0 8 ) Table 2 MONEY STOCK AND DEBT MEASURES Percent change at seasonally adjusted annual rates Ml M2 M3 Debt 1 3 Months from MAR. 1992 TO JUNE 1992 5.6 -1.8 -3.1 5.2 6 Months from DEC. 1991 TO JUNE 1992 12.0 1.2 -0.6 4.3 12 Months from JUNE 1991 to JUNE 1992 11.1 1.4 -0.2 4.4 7.9 -1.2 -2.7 Thirteen weeks ending JULY 27, 1992 from thirteen weeks ending: APR. 27, 1992 (13 weeks previous) JAN. 27, 1992 (26 weeks previous) 12.6 1.4 -0.4 JULY 29, 1991 (52 weeks previous) 11.6 1.6 -0.1 1. Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, February 1992 to May 1992, November 1991 to May 1992, and May 1991 to May 1992, respectively. Footnotes to Table 1 1. 2. 3. 4. 5. 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 (NON) and automatic transfer service (ATS) accounts at depository institutions, credit union share draft accounts and demand deposits at thrift institutions. Seasonally adjusted Ml is calculated by summing currency, travelers checks, demand deposits, and OCDs, each seasonally adjusted separately. Consists of Ml plus overnight (and continuing contract) RPs issued by all depository institutions and overnight Eurodollars issued to U.S. residents by foreign branches of U.S. banks worldwide, savings deposits (including money market deposit accounts), small-denomination time deposits (time deposits—including retail RPs—in amounts of less than $100,000), and balances in both taxable and tax-exempt general purpose and broker/dealer money market mutual funds. Excludes individual retirement account (IRA) and Keogh balances at depository institutions and money market funds. Also excludes all balances held by U.S. commercial banks, money market funds (general purpose and broker/dealer), foreign governments and commercial banks, and the U.S. government. Seasonally adjusted M2 is computed by adjusting its non-Mi component as a whole and then adding this result to seasonally adjusted Ml. Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more) and term RP liabilities issued by all depository institutions, term Eurodollars held by U.S. residents at foreian 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 on debt of domestic nonfinancial sectors are presented in month-averaqe 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 B i l l i o n s of dollars Seasonally adjusted Ml 13-week average 4-week average 4 11 18 25 938.9 941.1 942.8 944.1 944.7 948.4 950.5 952.9 1 8 15 22 29 945.9 947.1 947.9 948.7 949.7 6 13 20p 27p 951.2 952.4 953.6 955.3 Period en<ding 1992-MAY JUNE JULY M3 M2 13-week average 4-week average 3471.1 3477.2 3470.5 3459.8 4188.0 4187.1 4184.2 4182.5 4176.7 4176.8 4176.9 4175.4 4172.7 4182.9 4176.0 4170.1 3468.5 3466.0 3464.7 3463.6 3458.8 3466.6 3467.2 3465.3 3455.2 3447.6 4179.0 4176.6 4174.1 4171.9 4169.4 4172.1 4168.6 4166.4 4163.2 4159.1 4159.3 4169.0 4167.2 4157.1 4143.2 3456.0 3453.4 3452.6 3454.4 3456.0 3454.7 3452.1 3454.7 4166.7 4164.7 4163.0 4161.4 4150.8 4148.1 4147.3 4150.1 4135.6 4156.5 4153.8 4154.6 13-week average 4-week average 950.9 955.3 954.0 951.2 3472.9 3473.2 3472.6 3471.2 3468.8 3470.6 3470.3 3469.7 954.7 954.9 954.7 954.2 951.9 958.4 956.0 953.2 949.1 949.2 3470.3 3469.1 3468.0 3466.8 3465.6 952.9 953.8 956.9 960.3 960.0 956.8 961.4 962.8 3464.7 3463.5 3462.0 3461.4 week average week average week average Not seasonally adjusted Ml 13-week average 4-week average 4 11 18 25 935.7 937.9 940.0 941.5 953.7 950.4 944.7 943.2 JUNE 1 8 15 22 29 943.7 945.7 947.7 949.3 950.3 JULY 6 13 20p 27p 951.8 952.3 951.8 952.7 Period en<ding 1992-MAY N o t e : S p e c i a l ca» ; week average 13-week average 4-week average week average 3456.4 3461.5 3456.2 3433.5 4191.7 4189.9 4186.8 4185.0 4185.7 4172.6 4163.6 4160.2 4159.7 4170.5 4162.4 4148.0 3449.9 3452.9 3456.7 3459.1 3454.4 3448.2 3473.5 3471.5 3443.0 3429.7 4181.5 4179.1 4177.0 4173.9 4169.4 4157.1 4158.9 4162.8 4162.0 4155.9 4147.4 4177.8 4178.1 4144.7 4123.0 3453.6 3453.7 3456.6 3459.0 3470.2 3471.9 3454.7 3439.2 4164.8 4160.5 4157.0 4155.3 4148.3 4145.7 4147.7 4151.7 4147.3 4167.7 4152.6 4139.1 13-week average 4-week average 946.5 949.6 945.7 931.1 3474.7 3474.2 3473.4 3471.7 3479.0 3466.4 3456.3 3451.9 943.0 946.6 950.6 953.9 951.9 945.6 964.1 961.6 944.1 937.9 3470.5 3469.5 3468.7 3467.1 3464.5 955.7 957.6 962.2 964.7 979.3 969.2 962.2 948.0 3461.8 3458.7 3455.5 3454.6 week average i o n s h o u l d be taken i n i n t e r p r e t i n g week-to-week changes i n money s u p p l y d a t a , which a r e h i g h l y v o l a t i l e and s u b j e c t revision. p--indicates preliminary data. M3 M2 to 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 At commercial banks 4 Currency 1 Travelers checks 2 Demand deposits 3 1991-FEB. MAR. 254.6 256.0 8.2 8.1 275.9 276.9 211.6 214.6 APR. MAY JUNE 256.3 256.6 257.6 7.8 8.0 7.9 276.1 278.4 280.1 JULY AUG. SEP. 259.3 261.3 262.9 7.8 7.8 7.8 OCT. NOV. DEC. 264.8 266.0 267.3 1992-JAN. FEB. MAR. APR. MAY JUNE At thrift institutions5 Total In M 2 6 In M3 only 7 85.8 86.6 297.5 301.3 2533.3 2544.7 790.8 779.0 215.4 220.2 223.5 87.1 87.6 88.2 302.5 307.8 311.6 2552.0 2554.7 2554.5 774.0 764.9 755.9 279.3 280.1 280.6 225.8 229.5 232.4 87.8 87.8 88.2 313.7 317.3 320.6 2547.4 2543.0 2539.5 749.9 747.1 741.2 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 2536.4 2539.5 2540.8 741.4 735.5 731.5 269.4 271.6 271.8 8.2 8.1 8.0 293.9 305.1 309.6 245.9 250.7 252.8 93.2 95.6 96.7 339.0 346.3 349.5 2537.6 2544.5 2534.9 726.5 724.7 716.5 273.6 274.7 276.2 8.0 8.0 7.9 311.2 315.2 311.0 252.9 259.3 259.5 97.2 97.3 97.5 350.1 356.7 357.0 2525.2 2515.0 2506.6 707.5 703.6 699.2 1 8 15 22 29 275.3 276.2 276.1 276.2 275.9 8.0 8.0 8.0 7.9 7.9 314.3 312.0 311.5 309.2 311.6 260.2 261.5 260.7 260.0 254.6 100.7 98.3 96.8 95.9 99.2 360.9 359.8 357.6 355.8 353.9 2508.2 2511.2 2512.2 2506.0 2498.3 692.7 701.7 701.8 701.9 695.6 6 13 20p 27p 277.3 277.8 279.1 280.0 7.9 7.9 e 7.9 e 7.9 e 315.9 313.2 316.0 315.2 259.7 260.2 261.2 262.3 99.2 97.7 97.1 97.3 358.9 , 357.9 358.4 359.7 2495.9 2497.9 2490.7 2491.9 679.6 701.8 701.7 699.9 Date Heek ending 1992-JUNE JULY 1. 2. Currency outside U.S. Treasury? Federal Reserve Banks and the vaults of depository institutions. Outstanding amount of U.S. dollai—denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits. 3. Demand deposits at commercial banks and 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 overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including money market deposit accounts) and small time deposits. This sum is seasonally adjusted as a whole. 7. Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overnight RPs and Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted as a whole. e--indicates estimated data. p--indicates preliminary data. H.6 (508) Table 4-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars> seasonally adjusted Savings deposits 1 Date A At * commercis»1 thrift institutions banks 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 banks 4 institutions Total 1991-FEB. MAR. 590.5 597.1 340.5 344.6 931.0 941.7 616.2 619.5 553.3 546.4 1169.5 1165.9 361.0 365.0 145.5 148.5 385.1 382.1 114.5 110.8 499.6 492.8 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. 645.7 655.4 664.9 369.3 373.3 377.7 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 67.4 85.1 83.1 450.0 442.3 437.1 1992-JAN. FEB. MAR. 676.0 688.9 695.2 385.2 395.0 402.7 1061.2 1083.9 1098.0 587.7 576.2 569.2 455.2 443.6 433.7 1042.9 1019.8 1002.9 360.1 363.9 358.0 182.4 188.2 185.3 346.4 341.7 336.8 81.4 79.1 76.1 427.9 420.7 412.9 APR. MAY JUNE 703.2 707.9 710.7 408.0 414.6 416.4 1111.3 1122.5 1127.1 565.9 557.8 551.2 419.5 411.0 404.7 985.4 968.8 955.9 354.1 355.0 353.3 189.2 194.8 199.7 331.9 329.5 326.2 73.8 71.2 69.7 405.7 400.8 396.0 707.5 709.8 712.1 711.2 709.7 415.4 415.8 416.5 417.2 416.3 1123, 1125, 1128, 1128, 1126. 554, 553, 552, 551, 548, 408.8 407, 405, 403. 402, 963. 961, 957, 954. 950, 353.6 353.7 353.8 353.8 352.4 191.4 196.2 201.5 203.9 200.3 327.0 328.6 327.8 324.7 325.1 70.3 69.9 69.5 69.2 70.1 397.3 398.6 397.2 393.9 395.2 712.6 715.7 716.4 718.0 417. 417, 418. 418.8 1130. 1133. 1134. 1136.8 546. 545. 543. 541, 401. 399, 397. 395.8 947. 944, 940. 937. 348.3 351.8 349.4 349.7 186.7 207.4 210.7 215.1 322.5 322.4 319.2 317.4 70.1 69.7 69.2 68.9 392.6 392.1 388.4 386.3 Neek ending 1992-JUNE 1 8 15 22 29 JULY 6 13 20p 27p 1. 2. Savings deposits include money market deposit accounts. Small-denomination time deposits—includinq retail RPs—are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial banks and thrifts are subtracted from small time deposits. 3. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities, 4. Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, and foreign banks and official institutions. p—indicates preliminary data. H.6 ( 5 0 8 ) Table ^-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Debt componentsA Non-M3 Components of L Savings bonds Short-term Treasury securities1 1991-FEB. MAR. 127.9 129.0 328.8 323.5 34.6 32.1 357.1 353.8 2537.5 2551.5 8287.9 8311.3 APR. MAY JUNE 130.1 131.3 132.4 307.3 299.5 325.1 30.6 29.1 28.1 341.6 327.9 333.0 2547.4 2572.5 2606.7 8336, 8361 8376.8 JULY AUG. SEP. 133.5 134.4 135.2 332.8 330.6 322.9 28.1 27.2 25.8 339.8 336.3 337.7 2633. 2667. 2694. 8383.8 8389.6 8400.2 OCT. NOV. DEC. 136.1 137.1 137.9 321.5 324.7 317.9 25.3 24.5 23.3 336. 337. 339. 2724. 2749. 2767.2 8411, 8427, 8436, 1992-JAN. FEB. MAR. 138.9 140.1 141.2 311.5 321.2 328.6 23.2 22.9 22.2 334.8 327.5 337.0 2781. 2797. 2832. 8450.9 8477.5 8492.8 142.4 143.5 328.9 332.8 21.6 22.3 341.7 329.4 2863. 2893. 8509.9 8526.7 Date APR. MAY p 1. Banker; accept an< Commercial paper 3 Federal debt Non-Federal debt 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. 3. Total commercial paper less commercial paper held by money market mutual funds. 4. Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities. p--indicates preliminary data. 2. H.6 (508) Table 5 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Nontransactions components Other checkable deposits Demand deposits3 At thrift institutions5 Total In M 2 6 In M3 only 7 Overnight RPs 8 Overnight Eurodollars9 Date Currency * Travelers checks2 1991-FEB. MAR. 252.6 255.6 7.8 7.8 268.0 270.1 211.5 215.8 83.4 85.8 294.9 301.6 2535.0 2553.3 792.5 783.3 51.4 49.0 19.0 20.2 APR. MAY JUNE 256.0 257.4 259.1 7.5 7.8 8.1 277.7 271.7 279.9 222.6 217.2 222.0 89.2 87.7 89.0 311.8 304.9 311.0 2557.8 2547.1 2549.9 772.2 768.1 757.2 50.0 51.3 52.3 19.6 17.2 15.6 JULY AUG. SEP. 260.8 262.0 261.7 8.5 8.6 8.3 280.9 278.8 278.6 223.1 226.9 230.6 89.0 88.3 88.2 312.1 315.1 318.7 2548.2 2544.6 2536.3 748.0 751.0 741.2 51.1 52.8 51.8 13.8 14.5 14.6 OCT. NOV. DEC. 263.1 266.3 270.0 8.0 7.7 7.7 283.7 291.1 303.0 232.0 238.1 244.8 88.6 90.7 91.7 320.6 328.8 336.5 2537.3 2540.2 2535.5 736.9 734.5 728.4 53.1 53.5 52.7 16.3 19.5 22.6 1992-JAN. FEB. MAR. 267.8 269.5 271.0 7.8 7.8 7.7 300.0 296.3 302.0 250.7 250.5 254.2 91.8 92.7 95.8 342.5 343.2 350.0 2537.8 2545.9 2543.7 723.7 727.0 721.0 54.8 57.1 52.6 21.9 19.4 20.4 APR. MAY JUNE 273.4 275.7 277.3 7.6 7.7 8.2 312.9 307.5 310.7 261.4 255.8 257.8 99.5 97.5 98.6 360.9 353.3 356.4 2531.4 2507.5 2502.1 706.2 707.0 700.4 51.7 48.7 49.1 19.1 18.2 19.2 1 8 15 22 29 274.8 278.4 277.6 277.2 276.5 7.9 8.0 8.1 8.2 8.3 309.3 313.4 315.7 305.3 306.1 255.9 262.9 260.6 256.2 251.3 97.7 101.5 99.6 97.2 95.7 353.6 364.3 360.2 353.4 347.0 2502.6 2509.4 2509.9 2498.9 2491.8 699.2 704.3 706.6 701.7 693.3 47.7 49.2 49.1 49.6 49.4 19.2 17.4 18.9 19.2 21.4 6 13 20p 27p 281.4 280.9 280.8 280.2 8.5 8.6 e 8.7 e 8.8 e 327.0 319.6 316.8 307.9 260.8 259.6 257.3 254.7 101.7 100.4 98.6 96.5 362.5 360.1 356.0 351.2 2490.9 2502.7 2492.5 2491.2 677.1 695.8 697.9 699.9 45.6 48.3 46.3 51.2 19.4 19.4 19.3 18.7 commercial banks 4 Neek ending 1992-JUNE JULY 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 NON and ATS balances at commercial banks, U.S. branches and agencies of foreign banks> and Edge Act corporations. 5. Consists of NOH and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including money market deposit accounts) and small time deposits. > 7. Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overnight RPs and Eurodollars held by institution-only money market mutual funds. 8. Consists of overnight and continuing contract RPs issued by all depository institutions to other than depository institutions and money market mutual funds (general purpose and broker/dealer). 9. Issued by foreign branches of U.S. banks worldwide to U.S. residents other than depository institutions and money market mutual funds (general purpose and broker/dealer). *" e—indicates estimated data, p—indicates preliminary data. H.6 (508) Table 5-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars> not seasonally adjusted Small-denomination time deposits2 Savings deposits 1 At At commerciail m thrift institutions banks Date Total At ~At~~ ~"~ commercial thrift banks institutions Total Large-denomination time deposits 3 At " IT General purpose Institutionthrift and broker/dealer only money commercial 4 banks institutions money market funds market funds Total 1991-FEB. MAR. 587.4 598.4 338.7 345.4 926.1 943.7 617.8 619.9 554.8 546.7 1172.5 1166.6 365.9 373.8 152.1 153.1 383.9 382.6 114. L 110.9 498.0 493.5 APR. MAY JUNE 604.9 609.3 620.0 351.4 356.4 361.1 956.4 965.8 981.1 617.1 614.2 615.7 541.7 533.5 521.0 1158.8 1147.7 1136.7 373.0 365.1 364.2 153.9 155.6 152.3 378.4 380.4 379.1 107.7 104.6 100.7 486.1 485.0 479.9 JULY AUG. SEP. 626.1 631.9 635.8 364.7 364.6 365.1 990.9 996.5 1001.0 617.3 620.8 619.1 511.9 499.3 491.2 1129.2 1120.0 1110.3 363.3 360.7 358.7 151.5 156.2 157.4 373.5 373.8 369.7 97.3 93.9 90.8 470.8 467.8 460.5 OCT. NOV. DEC. 644.6 655.3 662.4 368.7 373.2 376.3 1013.3 1028.5 1038.7 615.2 606.9 598.7 482.0 473.2 464.6 1097.1 1080.1 1063.4 357.4 358.6 358.1 163.4 172.7 180.3 362.8 356.9 352.8 87.4 85.1 82.8 450.2 441.9 435.5 1992-JAN. FEB. MAR. 672.3 685.2 696.8 383.1 392.9 403.7 1055.4 1078.1 1100.5 589.5 577.6 569.5 456.6 444.7 433.8 1046.1 1022.4 1003.3 359.6 369.0 366.9 188.1 196.9 191.4 344.0 340.6 337.3 80.9 78.8 76.2 424.9 419.4 413.5 APR. MAY JUNE 706.0 707.9 714.0 409.7 414.6 418.4 1115.7 1122.5 1132.4 565.4 556.1 549.2 419.1 409.7 403.3 984.5 965.8 952.4 360.4 352.3 348.9 190.9 195.5 195.7 330.8 330.8 327.6 73.6 71.5 70.0 404.4 402.3 397.6 1 8 15 22 29 708.6 715.8 718.0 712 709.9 416, 419, 420. 418, 416. 1124.6 1135.1 1137.9 1130.7 1126.2 552.5 550.9 549.7 548.8 547.2 407.2 406.0 403.9 401.8 401.1 959. 956. 953, 950. 948. 351.4 350.8 350.5 348.8 346.5 190.8 194.0 197.6 199.2 195.0 329.7 331.5 330.8 326.1 323.5 70, 70. 70, 69. 69.8 400.6 402.0 400.8 395.6 393.3 6 13 20p 27p 717.3 721.8 720.0 719.0 420. 421. 420. 419. 1137.6 1142.9 1140.5 1138.4 546.3 544.9 543.1 541.0 401 399, 397, 395. 947. 944. 940. 936. 340.8 347.7 346.1 346.4 180.0 200.8 206.6 210.8 320. 321. 319. 318. 69.8 69.5 69.2 69.0 390. 391. 388, 387. Week ending 1992-JUNE JULY 1. 2. 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. 3. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities. 4. Large-denomination time deposits at commercial banks less those held by money market mutual funds> depository institutions, and foreign banks and official institutions. p—indicates preliminary data. H.6 (508) Table 5-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Term RPs 1 At thrift commercial institutions banks Date Debt components 6 Non-M3 C omponen t s o f L Total Term Eurodollars2 Savings bonds Short-term Treasury ^ securities" Bankers acceptances4 Commercial paper 5 Federal debt Non-Federal debt 1991-FEB. MAR. 48.5 48.1 38.2 35.4 86.7 83.5 69.8 68.2 127.9 129.1 330.3 324.5 34.3 31.5 360.3 354.7 2540.7 2553.4 8255.1 8272.4 APR. MAY JUNE 49.1 48.3 49.1 33.1 32.1 29.3 82.2 80.4 78.4 65.2 62.3 61.6 130.4 131.6 132.7 302.8 292.1 313.9 30.1 28.7 27.8 344.5 334.0 334.9 2544.5 2560.6 2586.4 8299.3 8327.0 8347.5 JULY AUG. SEP. 49.6 48.9 48.1 29.2 29.4 28.6 78.8 78.4 76.7 62.7 63.6 61.5 133.6 134.3 135.0 324.2 325.0 323.9 27.9 27.2 25.5 338.8 333.1 335.8 2609.3 2642.9 2673.1 8357.4 8361.9 8375.5 OCT. NOV. DEC. 48.9 48.0 47.0 26.6 25.6 23.8 75.5 73.6 70.9 62.8 61.5 57.2 135.9 136.8 137.7 325.5 333.6 330.4 25.1 25.2 24.5 331.5 333.8 335.8 2707.6 2740.8 2765.0 8389.3 8405.2 8425.2 1992-JAN. FEB. MAR. 48.1 48.8 50.9 22.8 23.3 22.8 70.8 72.0 73.7 55.3 55.9 57.9 138.8 140.1 141.4 320.2 322.3 329.6 23.7 22.7 21.8 338.7 330.4 338.0 2782.5 2799.1 2834.7 8437.1 8443.3 8453.0 APR. MAY JUNE 50.4 49.9 47.9 21.9 21.7 22.1 72.3 71.6 70.0 55.0 52.7 51.3 142.7 143.9 p 323.8 324.6 p 21.3 21.9 p 345.0 335.4 p 2863.5 2884.1 p 8472.8 8491.7 p 2-9 48.7 47.6 48.2 48.6 46.9 21.1 22.8 22.5 21.6 21.7 69.8 70.4 70.8 70.2 68.6 52.7 52.2 51;7 50.7 50.5 6 13 20p 27p 48.5 45.7 44.7 43.9 21.4 22.5 22.3 22.1 69.9 68.3 67.0 66.0 51.6 49.4 49.8 50.5 Week ending 1992-JUNE JULY 1 8 15 22 Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs. Term Eurodollars are those with original maturities greater than one day. Consists of those issued to U.S. residents by foreign branches of U.S. banks world-wide and by all banking offices in the United Kingdom and Canada. Excludes those held by depository institutions and money market mutual funds. Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal Reserve Banks, money market mutual funds, and foreign entities. Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money ma rke t mu tua1 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 discontinuitiese p--indicates preliminary data. H.6 (508) Table 6 MEMORANDUM ITEMS 10 Billions of dollars* not seasonally adjusted Demand deposits at banks due to Foreign Foreign ccommercial official banks institutions Date IRA and Keogh Account:s U.S. government depotsits Time and savings deposits due to foreign banks and official institutions Demand deposits at commercial banks Balance at Federal Reserve Note balances at depository institutions Total cash balance Time and savings At At deposits thrift at commercial commercia 1 banks institutions banks At money market funds Total 1991-FEB. MAR. 8.2 8.0 1.6 1.6 5.1 5.7 4.2 5.1 11.5 6.8 35.1 23.3 50.8 35.1 1.3 1.3 133.6 135.3 134.0 134.5 43.5 44.0 311.1 313.8 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 6.5 6.5 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 2.2 148.3 148.4 147.8 130.9 129.7 128.8 42.1 e 42.3 e 42.5 e 321.3 e 320.4 e 319.1 e APR. MAY JUNE 7.9 7.8 8.0 1.5 1.5 1.6 6.6 6.6 6.6 5.8 4.2 5.2 4.9 5.2 6.7 11.9 16.8 19.9 22.6 26.2 31.8 2.5 2.6 2.6 148.4 148.6 147.9 127.9 e 127.1 e 126.6 e 42.3 e 41.9 e 41.6 e 318.5 e 317.7 e 316.1 e 1 8 15 22 29 8.5 8.0 7.6 8.1 7.9 1.5 1.5 1.6 1.7 1.5 6.6 6.6 6.6 6.6 6.6 4.6 3.7 7.4 6.3 3.5 5.4 5.3 5.3 8.7 7.6 15.3 10.9 8.7 26.6 33.9 25.3 19.8 21.4 41.6 45.0 2.6 2.5 2.5 2.6 2.6 6 13 20p 27p 9.4 8.6 7.8 8.6 1.6 2.0 1.5 1.6 6.5 6.5 6.5 6.5 4.5 3.2 4.1 3.3 6.9 6.0 5.2 5.4 21.1 9.4 13.2 16.1 32.5 18.7 22.4 24.8 2.5 2.5 2.5 2.5 Meek ending 1992-JUNE JULY •--indicates estimated data. p--indicates preliminary data.