Full text of H.6 Money Stock Measures : December 17, 1992
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FEDERAL RESERVE statistical release These data are scheduled for release each Thursday at 4:30 p.m. ^f^LR^ Hf.6 (508) Tbble 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES DECEMBER 17, 1992 Billions of dollars Date Ml 1 M2^ DEBT5 M3 3 SeBESnaiMjABafjusted 1990-DEC. 826.1 3339.0 0.14.* 4965.2 10751.4 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 3407.5 3409.7 3411.9 3417.9 3431.6 3439.8 4125.8 4170.5 4167.7 4157.3 4156.7 4152.8 4159.0 4166.9 4171.0 4980.4 5007.2 5002.7 4976.8 4956.7 4984.7 4989.8 4983.5 4972.6 4976.3 4989.4 4988.1 10777.2 10825.4 10863.3 10886.8 10940.8 10993.9 11026.7 11062.9 11094.8 11133.4 11174.6 11201.3 910.4 931.0 939.0 942.8 954.3 951.7 960.5 973.1 988.6 1007.3 1019.0 3447 3474 3475 3471 3473 3464 3461 3471 3481 3497.1 3507.2 4173.7 4198.7 4191.8 4179.4 4178 4166 4162 4176 4182 4183.8 4190.1 4980.6 5009.1 5019.9 5012.7 5002.5 5013.7 5006.0 5024.6 5043.1 5051.0 11237. 5 11288. 2 11345. 0 11397. 4 11443. 1 11490. 3 11527. 2 11564. 7 11596. 5 11622. 4 p X992-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. p Jfif Not seasonally adjusted 1990-DEC. 844.1 3351.9 4124.7 4984.9 10739.9 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 3410 3409 3404 3413 3434 3453 4129.7 4150.8 4171.6 4183 4156 4165 4158 4160 4145 4149 4169 4181 4998. 5002. 5009. 4989. 4941. 4972.8 4981.4 4978. 4963. 4966. 4996. 5008. 10765. 10796. 10826. 10845. 10893. 10944. 10978. 11018. 11062. 11108. 11152.8 11191.4 918.2 916.8 930.8 954.7 944.0 952.1 963.0 970.6 983.0 1001.2 1021.9 3455.5 3461.6 3476.3 3489.6 3455.3 3460.0 3464.7 3470.2 3473.3 3492.3 3510.5 4178.8 4188.2 4196.9 4196.2 4164.4 4163.8 4163.9 4178.8 4173.5 4174.3 4192.2 4998.6 5002.4 5026.9 5027.6 4986 0 5000 9 4997 6 5018 2 5032 9 5039 9 P 11224.9 11256.4 11305.3 11354.3 11394 7 11441 2 11481 9 11526 6 11569 0 11600 5 p 1992-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. 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 AUG. 1992 TO NOV. 1992 18.9 4.1 1.3 3.3 6 Months from MAY 1992 TO NOV. 1992 13.6 2.0 0.5 3.9 12 Months from NOV. 1991 TO NOV. 1992 14.3 2.2 0.6 4.4 Thirteen weeks ending DECEMBER 7, 1992 from thirteen weeks ending: SEP. 7, 1992 (13 weeks previous) 18.2 3.6 1.7 JUNE 8, 1992 (26 weeks previous) 12.9 1.5 0.2 9, 1991 (52 weeks previous) 14.0 2.2 0.6 DEC. 1. Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, July 1992 to October 1992, April 1992 to October 1992, and October 1991 to October 1992, respectively. Footnotes to Table 1 Consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions) (2) travelers checks of nonbank issuers) (3) demand deposits at all commercial banks other than those due to depository institutions, the U.S. government, and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float) and (4) other checkable deposits (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 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 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 on 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 ( 5 0 8 ) Table 5 MONEY STOCK MEASURES Billions of dollars Seasonally adjusted Ml Period ending 15-week average 4-week average 1992-SEP. 14 21 28 966.6 969.9 975.2 979.6 984.5 987.6 976.2 980.2 985.6 987.2 M5 , M2 15-week average 4-week average week average 5485.7 5482.6 5480.7 4170.0 4171.5 4175.6 4182.7 4186.0 4184.5 4192.3 4186.0 4179.2 5485.7 5487.5 5490.6 5494.4 5487.7 5498.2 5495.8 5495.8 4174.8 4176.9 4178.1 4179.6 4179.5 4180.2 4178.9 4180.7 4160.6 4194.8 4181.1 4186.5 15-week average 4-week average 985.6 990.9 991.2 5467.2 5468.9 5471.0 5476.9 5480.4 5481.7 991.9 997.2 1000.7 1005.2 999.7 1006.8 1005.1 1009.1 5475.0 5475.8 5478.6 5481.2 week average week average OCT. 5 12 19 26 NOV. 2 9 16 25 50p 991.1 994.8 998.5 1001.8 1005.0 1009.5 1012.6 1017.1 1018.4 1019.2 1017.0 1019.0 1025.2 1014.5 1020.1 5484.7 5487.9 5491.1 5495.5 5495.5 5499.5 5505.5 5507.9 5508.4 5507.2 5508.1 5514.4 5515.5 5497.8 5505.2 4181.5 4185.0 4184.5 4185.4 4185.5 4188.3 4188.0 4190.8 4191.1 4190.1 4191.1 4195.4 4192.5 4187.4 4187.1 DEC. 7p 1008.1 1020.1 1022.5 5497.8 5506.0 5509.5 4186.0 4188.5 4187.0 Not seasonally adjusted Ml M2 15-week average 4-week average 995.4 979.9 967.4 5466.8 5468.2 5469.5 5474.1 5476.5 5475.9 985.7 988.5 995.9 999.6 1002.2 1005.5 1002.6 990.2 5470.5 5471.9 5474.5 5476.8 Period ending 13-week average 4-week average 1992-SEP. 14 21 28 966.6 969.4 971.7 977.2 982.2 982.9 973.5 976.2 979.4 982.7 week average M5 week average 15-week average 4-week average 5491.5 5466.4 5450.4 4169.9 4171.1 4172.4 4181.5 4182.5 4176.4 4200.6 4169.2 4148.4 5474.5 5476.2 5485.6 5490.1 5489.5 5498.5 5495.8 5476.5 4172.6 4175.6 4174.5 4175.2 4169.4 4167.5 4168.7 4171.8 4159.2 4192.5 4175.0 4160.7 week average OCT. 5 12 19 26 NOV. 2 9 16 25 50p 986.0 989.5 995.6 997.5 1002.0 1001.1 1006.7 1015.1 1018.5 1022.0 1008.1 1025.7 1028.5 1010.7 1025.2 5479.4 5482.5 5486.0 5489.0 5492.1 5492.6 5498.6 5505.2 5510.2 5510.5 5499.6 5522.6 5522.0 5496.4 5500.8 4175.6 4176.5 4177.6 4178.9 4180.0 4176.5 4178.9 4184.7 4190.1 4192.5 4178.1 4201.6 4198.5 4182.2 4187.0 DEC. 7p 1006.0 1026.5 1042.9 5495.4 5512.5 5550.0 4181.5 4192.9 4204.0 Note: Special caution should be taken in interpreting week-to-week changes in money supply data, which are highly volatile and subject to revision. p—indicates preliminary data. H.6 ( 5 0 8 ) Table 4 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Nontransactions components Other checkable deposits Date Currency 1 Travelers checks 2 Demand deposits3 1 commercia banks 4 At thrift institutions5 Total In M 2 6 In M3 only 7 1991-JULY AUG. SEP. 259.3 261.3 262.9 7.8 7.8 7.8 279.3 280.1 280.6 225.8 229.5 232.4 87.8 87.8 88.2 313.7 317.3 320.6 2547.4 2543.2 2539.9 749.8 746.9 740.9 OCT. NOV. DEC. 264.8 266.0 267.3 7.9 8.0 8.2 283.8 287.6 289.5 235.4 239.2 241.6 89.1 90.5 91.6 324.5 329.7 333.2 2537.0 2540.3 2541.7 741.1 735.2 731.2 1992-JAN. FEB. MAR. 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 2537.1 2543.4 2536.7 726.1 724.3 716.2 APR. MAY JUNE 273.6 274.7 276.2 8.0 8.0 7.9 311.2 315.1 311.0 252.9 259.3 259.5 97.1 97.1 97.2 350.0 356.4 356.7 2528.7 2518.8 2512.4 707.8 705.7 702.6 JULY AUG. SEP. 278.9 282.3 286.4 7.8 7.9 8.3 315.6 320.6 327.8 261.0 263.9 266.1 97.2 98.3 100.0 358.2 362.2 366.1 2501.1 2498.1 2493.3 701.3 704.9 700.5 OCT. NOV. p 288.4 290.0 8.6 8.6 336.2 339.2 272.3 278.4 101.7 102.8 374.0 381.2 2489.8 2488.2 686.7 682.9 288.7 288.6 288.8 8.6 8.6 8.6 338.0 336.3 336.7 269, 270, 274. 101.8 101.2 100.9 371.4 371.5 375.0 2491. 2490, 2486. 696, 685, 690, 2 9 16 23 30p 288.7 289.5 290.1 290.2 290.6 8.6 8.6 8.6 8.6 8.6 e e e e 338.8 338.2 340.8 337.1 341.3 278, 279, 279. 277. 276. 102.8 103.4 104.0 100.8 102.8 380.8 382.7 383.7 378.7 379.6 2491. 2495. 2490. 2483. 2483. 683, 679, 679. 689. 683. 7p 291.0 8.6 e 338.8 280.2 103.9 384.1 2487.0 677.5 Neek ending 1992-OCT. 12 19 26 NOV. DEC. 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 NON and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. 5. Consists of NON and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum of overniqht RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including money market deposit accounts) and small time deposits. This sum is seasonally adjusted as a whole. 7. Sum of large time deposits* term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overniqht 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 At At thrift c;ommerciail institutions banks Date Large-denomination time deposits 3 Small-denomination time deposits2 Total At At commercial thrift institutions banks Total General purpose and broker/dealer money market funds Institutiononly money market funds At At commercial thrift banks* institutions Total 1991-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 87.4 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 1098.0 587.7 576.2 569.2 455.2 443.6 433.6 1042.9 1019.8 1002.8 358.6 361.7 358.3 182.4 188.2 185.3 346.4 341.7 336.8 81.4 79.1 76.1 427.9 420.7 413.0 APR. MAY JUNE 703.2 707.9 710.7 408.0 414.4 416.2 1111.2 1122.4 1127.0 566.0 558.1 551.5 419.2 410.7 404.6 985.3 968. 7 956.2 355.9 356.7 355.3 189.2 194.8 199.7 331.9 329.6 325.5 73.8 71.3 69.8 405.7 400.9 395.3 JULY AUG. SEP. 716.3 724.3 734.4 418.1 421.3 425.1 1134.4 1145.6 1159.6 543.6 534.8 527.3 398.8 393.1 387.9 942.4 928.0 915.2 351.7 349.7 344.7 207.7 217.2 217.2 319.1 316.4 312.0 69.5 68.2 68.0 388.5 384.6 380.0 OCT. NOV. P 743.4 749.8 428.2 431.8 1171.6 1181.6 519.4 511.6 379.3 372.9 898.8 884.5 347.6 348.7 205.6 203.5 305.4 303.0 67.9 66.5 373.2 369.5 743.2 743.9 744.5 427.1 428.0 429.1 1170.3 1171.9 1173.6 520.8 519.7 518.3 380.6 379.4 377.9 901.3 899.1 896.1 346.7 349.7 347.7 211.1 203.3 210.7 309.9 306.7 301.8 68.2 67.8 67.6 378.0 374.5 369.4 Meek ending 1992-OCT. 12 19 26 NOV. 2 9 16 23 30p 745.9 750.2 752.0 749.3 748.7 430.1 431.0 431.8 432.1 432.7 1176.0 1181.2 1183.8 1181.4 1181.5 516.0 513.9 511.8 510.4 509.2 376.4 374.7 373.2 371.8 370.6 892.3 888.6 885.0 882.2 879.8 351.6 350.0 348.5 346.7 348.9 205.9 203.8 201.3 205.1 203.2 300.0 301.6 302.9 304.2 304.1 67.2 66.7 66.6 66.2 66.2 367.2 368.3 369.5 370.4 370.2 DEC. 7p 752.2 433.4 1185.6 508.2 369.1 877.3 348.7 195.9 303.0 65.9 369.0 , 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 (508) Table 4-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Debt components4 Non-M3 Components of L Savings bonds Short-term Treasury securities1 1991-JULY AUG. SEP. 133.5 134.4 135.2 331.1 328.9 321.2 28.1 27.2 25.8 OCT. NOV. DEC. 136.1 137.1 137.9 319.7 322.9 316.1 1992-JAN. FEB. MAR. 138.9 140.1 141.2 APR. MAY JUNE Commercial paper 3 Federal debt Non-Federal debt 339.8 336.3 337.7 2639. 2665. 2686. 8386.8 8397.2 8408.8 25.3 24.5 23.3 336.2 337.9 339.7 2713. 2742. 2764.8 8419.5 8432.3 8436.5 310.0 319.9 327.7 23.2 22.9 22.2 334.8 327.5 337.0 2782.6 2801.8 2841.7 8454, 8486, 8503, 142.4 143.5 144.6 327.6 328.9 333.3 21.6 22.0 22.0 341. 329, 347. 2877. 2908. 2943.8 8520, 8534, 8546, JULY AUG. SEP. 145.9 147.5 149.5 325.2 327.8 326.4 21.7 20.9 20.4 350. 352. 364. 2968. 2992 3004.8 8558, 8572. 8591, OCT. p 152.0 322.9 21.6 370.8 3001.4 8621.0 Date 1. Banker: accept an< 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. 2. 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. H.6 ( 5 0 8 ) Table 5 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Nontransactions components Other checkable deposits v Date Currency 1 Travelers checks 2 Demand deposits3 commercial banks* At thrift institutions5 Total In M 2 6 In M3 only 7 Overnight RPs* Overnight Eurodollars9 1991-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 2548.3 2544.8 2536.7 747.9 750.8 741.0 51.2 53.1 52.2 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 2537.8 2540.9 2536.3 736.6 734.2 728.0 53.7 54.2 53.6 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 2537.3 2544.8 2545.5 723.3 726.6 720.7 55.8 58.2 54.0 21.9 19.4 20.6 APR. MAY JUNE 273.4 275.7 277.3 7.6 7.7 8.2 312.9 307.5 310.6 261.4 255.8 257.8 99.4 97.3 98.3 360.8 353.1 356.1 2534.9 2511.3 2507.9 706.6 709.0 703.8 53.3 50.8 52.7 19.3 18.4 19.3 JULY AUG. SEP. 280.8 282.9 284.7 e 8.9 317.2 319.2 325.4 257.8 260.8 264.0 98.6 98.9 100.0 356.4 359.7 364.0 2501.8 2499.6 2490.3 699.2 708.5 700.2 53.4 59.3 56.8 19.0 16.5 17.3 OCT. NOV. P 287.0 290.1 8.7 8.3 336.0 343.4 268.3 277.1 101.2 103.1 369.5 380.1 2491.1 2488.6 682.0 681.7 55.4 54.0 19.6 20.7 288.2 287.0 286.2 8.8 8.7 8.6 336.3 339.1 330.3 267.9 266.8 266.6 102.3 101.0 98.6 370.2 367.8 365.1 2495.0 2493.3 2486.3 693.8 679.1 684.2 54.7 55.6 53.9 19.3 18.8 19.0 2 9 16 23 30p 286.4 290.3 290.1 289.9 290.8 8.5 8.4 8.3 8.2 8.1 e e e e 339.2 342.2 347.0 336.6 347.7 272.4 279.7 278.7 275.2 274.9 101.6 105.1 104.3 100.8 101.7 374.0 384.8 383.0 376.0 376.6 2491.5 2496.8 2493.5 2485.7 2477.6 678.5 679.0 676.5 685.9 686.2 56.4 55.6 54.1 55.2 50.3 21.0 20.0 20.7 20.9 21.0 7p 293.1 8.1 e 350.8 284.6 106.4 390.9 2487.1 674.0 53.5 22.6 Neek ending 1992-OCT. 12 19 26 NOV. DEC. 1. 2. Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions. Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits. 3. Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float. 4. Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. 5. Consists of NOH and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum of 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 At At commercial thrift banks institutions Date Large-denomination time deposits 3 Small-denomination time deposits2 Savings deposits 1 Total At _ At commercial thrift banks institutions Total General purpose InstitutionAt At and broker/dealer only money commercial thrift 4 institutions banks money market funds market funds Total 1001.0 617.3 620.8 619.1 511.9 499.3 491.2 1129.2 1120.0 1110.3 363. 360. 358. 151. 156, 157. 373.5 373.8 369.7 97.3 93.9 90.8 470.8 467.8 460.5 368. 373. 376. 1013.3 1028.5 1038.7 615. 606. 598. 482.0 473.2 464.6 1097.1 1080.1 1063.4 357, 358. 358. 163.4 172.7 180.3 362.8 356.9 352.8 87.4 85.1 82.8 450.2 441.9 435.5 672.3 685.2 696.8 383.1 392.9 403.7 1055.4 1078.1 1100.5 589.5 577.6 569.5 456.6 444.7 433.8 1046.1 1022.4 1003,2 358.2 366.7 367.3 188.1 196.9 191.4 344.0 340.6 337.3 80.9 78.8 76.2 424.9 419.4 413.5 APR. MAY JUNE 706.1 708.0 714.1 409. 414, 418. 1115, 1122, 1132, 565. 556. 549. 418.8 409.4 403.2 984.3 965.8 952.7 362. 354. 350. 190.9 195.5 195.7 330.9 330.9 326.8 73.6 71.5 70.1 404.4 402.4 396.9 JULY AUG. SEP. 719.8 726.2 733.4 420. 422. 424.6 1140, 1148, 1158, 543. 534. 527. 398.7 392.9 387.6 942.1 927.3 914.6 347. 348. 343. 202.2 213.8 210.0 318.9 318.0 313.2 69.4 68.6 68.3 388.3 386.6 381.5 OCT. NOV. p 742, 749, 427, 431. 1169, 1181, 520. 512. 380.1 373.2 900.5 885.3 345. 347. 199.8 202.2 305.4 302.6 67.9 66.4 373.3 369.0 744.2 743.2 741.0 427. 427. 427. 1171.8 1170.8 1168.1 522, 520, 518.8 381, 380, 378, 904. 900. 897. 345. 347. 348. 205.3 195.8 207.3 310.4 306.4 301.5 68.3 67.8 67.5 378. 374. 369. 743, 751. 753. 748. 746. 428.6 431.8 432..6 431..4 431..3 1171.8 1183.4 1185..9 1179..5 1177..7 516. 514. 512. 510. 509. 376.8 375.1 373.6 372.1 370.9 893. 889. 885. 883. 880. 349. 348. 346. 347. 347, 203, 201. 198. 205. 202. 299. 301. 302. 303. 303. 67. 66. 66. 66. 66. 366. 368. 369. 370. 369. 752.2 433.5 1185.6 508.7 369.5 878.2 347.1 195.9 302.0 65.7 367.8 1991-JULY AUG. SEP. 626.1 631.9 635.8 364. 364. 365. OCT. NOV. DEC. 644.6 655.3 662.4 1992-JAN. FEB. MAR. 990.9 996.5 Meek ending 1992-OCT. 12 19 26 NOV. 2 9 16 23 30p DEC. 7p 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 bookedat 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 At c;ommercial thrift banks institutions Date Debt components6 Non-M3 Components of L Total Term Eurodollars2 Savings bonds Short-term Treasury securities3• Bankers acceptances* Commercial paper 5 Federal debt Non-Federal debt 1991-JULY AUG. SEP. 49.6 49.0 48.3 29.1 29.2 28.2 78.7 78.2 76.5 62.7 63.6 61.5 133.6 134.3 135.0 322.5 323.4 322.2 27.9 27.2 25.5 338.8 333.1 335.8 2609.3 2642.9 2673.1 8368.7 8375.8 8388.9 OCT. NOV. DEC. 49.1 48.3 47.3 26.1 25.1 23.2 75.2 73.3 70.5 62.8 61.5 57.2 135.9 136.8 137.7 323.7 331.9 328.6 25.1 25.2 24.5 331.5 333.8 335.8 2707.6 2740.8 2765.0 8400.4 8412.0 8426.4 1992-JAN. FEB. MAR. 48.4 49.2 51.4 22.1 22.5 21.9 70.5 71.7 73.3 55.3 55.9 57.9 138.8 140.1 141.4 318.6 321.0 328.8 23.7 22.7 21.8 338.7 330.4 338.0 2782.5 2799.1 2834.7 8442.4 8457.3 8470.6 APR. MAY JUNE 51.5 52.6 52.4 21.0 20.8 21.1 72.5 73.4 73.6 55.0 52.8 51.8 142.7 143.9 144.9 322.5 320.8 321.7 21.3 21.6 21.7 345.0 335.4 348.8 2863.5 2884.1 2912.2 8490.8 8510.6 8529.0 JULY AUG. SEP. 51.0 53.0 55.3 21.5 20.2 19.8 72.5 73.3 75.1 50.8 50.6 47.9 146.0 147.4 149.2 316.9 322.2 327.6 21.6 20.9 20.2 349.3 349.0 362.3 2937.5 2970.3 2993.9 8544.4 8556.3 8575.0 OCT. NOV. P 57.0 58.7 20.3 20.7 77.3 79.4 47.4 47.8 151.8 p 326.9 p 21.4 p 365.5 p 2998,1 p 8602.4 p 56.4 56.0 58.4 20.4 20.5 20.6 76.8 76.5 79.0 48.3 46.9 46.8 Neek ending 1992-OCT. 12 19 26 NOV. 2 9 16 23 30p 58.8 58.5 57.4 58.2 60.8 19.9 20.3 20.7 20.9 21.1 78.8 78.8 78.1 79.1 81.9 47.1 47.3 47.4 47.4 49.2 DEC. 7p 58.6 21.0 79.7 47.5 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 market mutual funds. 5. Total commercial paper less commercial paper held by money market mutual funds. Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities, 6. •indicates preliminary data. P" H.6 ( 5 0 8 ) Table 6 MEMORANDUM ITEMS 10 Billions of dollars, not seasonally adjusted Demand deposits at banks due to Date IRA and Keogh Accounts U.S. government deposits Time and savings deposits due to foreign banks Foreign Foreign (commercial and official official institutions banks institutions 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 commercial institutions banks banks At money market funds Total 1991-JULY AUG. SEP. 8.0 7.9 7.8 1.5 1.5 1.5 17. 13. 21. 27, 22, 34, 141.8 143 144. 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 25. 24. 20. 34, 34, 32.8 145. 147. 147. 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 7.4 6.2 5.6 27. 20. 15. 40, 31. 25. 148.3 148.4 147.8 130.9 129.7 128.9 43.5 44.6 42.1 322.7 322.7 318.8 APR. MAY JUNE 7.9 7.8 8.0 1.5 1.5 1.6 4, 5. 6. 11.9 16.8 19.9 22, 26. 31.8 148, 148. 147.9 128.2 127.5 126.7 40.4 40.3 39.6 316.9 316.4 314.3 JULY AUG. SEP. 8.4 7.7 8.2 1.7 1.5 1.8 5. 5. 10. 15, 18. 23, 25. 28. 39. 147, 147, 147. 125.4 e 123.6 e 122.2 e 39.6 39.7 39.5 e 312.5 e 310.7 e 309.3 e OCT. NOV. P 8.2 8.0 1.7 1.7 5. 5. 17. 12. 27. 21, 147. 147. 120.7 e 119.5 e 39.3 e 39.1 e 307.6 e 305.7 e 7.9 8.1 7.6 1.6 1.5 1.7 15, 13, 15, 23.8 22.5 24.5 16, 15, 15, 7. 9, 12.4 26. 23, 25. 16. 19.8 6.5 6.5 6.5 5.2 4.3 4.2 Meek ending 1992-OCT. 12 19 26 NOV. 2 9 16 23 30p 8.2 7.9 7.9 7.7 8.4 1.8 2.0 1.7 1.6 1.5 DEC. 7p 8.7 1.8 e—indicates estimated data, p—indicates preliminary data. 6.5 4.0 5.3 21.7 2.7 H.6 (508) Special Supplementary Table Monthly Survey of Selected Deposits1 October 28,1992 and November 25,1992 (not seasonally adjusted) Insured Commercial Banks Amount Outstanding ($mil.) Average Rate Paid (%) Liability Categories Oct. 28 Nov. 25 Change (percent) Oct. 28 NOW Accounts 268,481 275,999 lib" 239 236 -3 735,860 569,972 740,941 574,714 0.69 0.83 2.94 N.A. 2.90 N.A. -3 N.A. 165,888 166,227 0.20 N.A. N.A. N.A. 38,867 39,017 0.39 2.89 2.91 2 128,637 0.00 -3.71 3.11 3.29 3.14 3 4 Savings Deposits Personal 2 Nonpersonal Interest-bearing time deposits with balances of less than $100,000 with original maturities of: 7 to 91 days 92 to 182 days Nov. 25 Change (b.p.) 183 days to 1 year 171,652 128,640 165,287 1 to 2-V2 year 2-V2 years and over 155,732 153,385 -1.51 3.78 3.82 168,966 169,225 0.15 4.60 4.70 5 10 147,324 147,036 -0.20 N.A. N.A. N.A. All IRA/Keogh Plan deposits 3 3.33 BIF-insured Savings B a n k s 4 Amount Outstanding ($mil.) Liability Categories NOW Accounts Savings Deposits Personal Nonpersonal 2 Interest-bearing time deposits with balances of less than $100,000 with original maturies of: 7 to 91 days 92 to 182 days 183 days to 1 year 1 to 2-l/2 year 2-V2 years and over All IRA/Keogh Plan deposits 3 Change (percent) Average Rate Paid (%) Change (b.p.) Oct. 28 Nov. 25 10,198 10,622 4A6 2L58 Z53 -5 81,093 77,858 3,235 82,323 79,078 3,244 1.52 1.57 0.28 3.29 N.A. N.A. 3.23 N.A. N.A. -7 N.A. N.A. 3,738 17,492 3,910 17,661 22,906 4.61 3.10 3.43 1 0.96 -1.84 3.09 3.41 3.57 3.60 3.91 4.84 3.92 4.88 1 4 N.A. N.A. N.A. 23,336 19,489 19,297 19,182 19,469 -1.58 0.89 22,189 22,224 0.16 Oct. 28 Nov. 25 1 3 N.A. — data are not available NOTE: Data for earlier month may show revisions. 1. Estimates are based on data collected by the Federal Reserve System from a stratified random sample of about 460 commercial banks and 80 savings banks. All rates are expressed as annual effective yields. 2. Includes personal and nonpersonal money market deposit accounts. 3. Total IRA and Keogh Plan deposits regardless of size, type of instrument in which held, or interest rate paid. 4. BIF-insured savings banks include both mutual and federal savings banks.