Full text of H.6 Money Stock Measures : December 21, 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 December 21, 2006 Date M1 1 M2 2 M1 1 Seasonally adjusted M22 Not seasonally adjusted 2004-Dec. 1372.1 6408.1 1401.3 6442.9 2005-Jan. Feb. Mar. Apr. May June July Aug. Sep. Oct. Nov. Dec. 1365.8 1369.1 1372.6 1363.3 1370.3 1374.2 1369.3 1376.8 1372.4 1374.3 1375.1 1368.5 6422.4 6443.9 6463.7 6468.1 6479.2 6506.0 6527.7 6558.8 6588.6 6619.0 6638.2 6664.8 1361.3 1354.9 1381.7 1369.2 1368.3 1382.1 1363.9 1375.6 1361.0 1363.8 1373.1 1396.5 6401.7 6403.9 6466.5 6511.0 6457.9 6508.9 6530.8 6554.4 6585.9 6612.6 6651.5 6702.3 2006-Jan. Feb. Mar. Apr. May June July Aug. Sep. Oct. Nov. p 1380.3 1375.6 1384.6 1386.6 1393.1 1370.3 1373.4 1370.2 1357.7 1369.2 1368.1 6724.8 6747.1 6763.8 6782.0 6787.8 6817.4 6838.6 6862.3 6878.8 6939.1 6976.9 1375.2 1361.8 1394.0 1392.8 1391.3 1378.0 1367.1 1369.2 1346.8 1358.9 1366.3 6694.6 6704.0 6769.3 6828.6 6766.0 6819.7 6839.3 6855.7 6882.5 6926.1 6990.8 M1 -0.6 -3.6 -0.5 M2 6.7 5.6 5.1 Percent change at seasonally adjusted annual rates 3 Months from Aug. 2006 TO Nov. 2006 6 Months from May 2006 TO Nov. 2006 12 Months from Nov. 2005 TO Nov. 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 2006-Sep. 18 25 week average 13-week average M2 4-week average week average Not seasonally adjusted 1369.4 1368.3 1365.5 1361.3 1345.3 1360.1 6852.4 6856.6 6874.2 6880.5 6881.2 6889.7 1366.4 1362.7 1359.1 1347.0 1325.9 1369.3 6852.9 6856.5 6881.1 6882.8 6896.8 6836.4 Oct. 2 9 16 23 30 1365.6 1365.2 1365.0 1365.0 1364.9 1356.0 1360.7 1362.1 1365.1 1369.0 1367.4 1369.9 1350.8 1372.3 1383.0 6860.2 6866.5 6872.9 6881.0 6891.7 6883.6 6900.5 6912.8 6927.4 6939.4 6903.4 6927.6 6930.3 6948.2 6951.4 1359.3 1358.4 1357.6 1357.2 1357.9 1348.0 1351.4 1349.7 1350.9 1357.6 1387.7 1322.5 1319.3 1374.1 1414.4 6859.4 6864.2 6871.6 6879.7 6887.4 6879.3 6887.1 6901.4 6920.4 6925.2 6878.2 6936.9 6954.2 6912.2 6897.5 Nov. 6 13 20 27 1365.2 1364.9 1364.7 1364.8 1367.3 1366.1 1364.8 1363.5 1362.9 1346.1 1367.0 1378.0 6901.4 6909.8 6917.4 6927.2 6948.1 6951.8 6957.6 6967.7 6962.6 6944.8 6971.5 6991.8 1358.5 1357.5 1356.6 1357.4 1360.2 1359.0 1356.8 1360.0 1333.1 1314.2 1365.6 1427.2 6895.9 6905.3 6915.4 6928.4 6935.9 6943.6 6964.4 6989.7 6979.7 6985.1 6995.2 6998.8 Dec. 4p 11p 1364.7 1364.5 1369.7 1370.1 1387.8 1347.5 6936.2 6946.8 6979.1 6992.2 7008.1 6997.2 1357.7 1358.7 1373.8 1375.6 1388.3 1321.3 6939.1 6949.7 7002.8 7017.4 7031.9 7043.6 Percent change at seasonally adjusted annual rates Thirteen weeks ending December 11, 2006 from thirteen weeks ending: Sep. 11, 2006 (13 weeks previous) June 12, 2006 (26 weeks previous) Dec. 12, 2005 (52 weeks previous) M1 M2 -1.7 -3.3 -0.7 5.8 4.9 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-July Aug. Sep. 710.0 712.8 716.1 7.3 7.4 7.3 334.2 336.7 329.2 181.7 183.0 181.7 136.1 137.0 138.0 317.7 320.0 319.7 Oct. Nov. Dec. 717.4 720.1 723.4 7.3 7.3 7.3 330.7 328.4 320.5 180.3 180.5 179.9 138.6 138.8 137.4 318.8 319.3 317.3 2006-Jan. Feb. Mar. 729.4 733.8 736.6 7.2 7.1 6.9 324.2 318.0 321.9 181.6 178.9 180.6 137.9 137.8 138.6 319.5 316.7 319.2 Apr. May June 739.0 742.6 740.8 6.8 6.9 7.0 322.5 326.4 312.4 180.6 181.1 177.4 137.7 136.1 132.7 318.3 317.1 310.1 July Aug. Sep. 740.2 741.1 740.8 6.8 6.8 6.8 318.8 316.8 305.8 175.7 173.5 173.7 131.9 132.1 130.6 307.7 305.6 304.3 Oct. Nov. p 742.8 746.1 6.8 6.8 314.9 313.2 177.7 175.4 127.0 126.6 304.7 302.0 741.7 743.7 745.1 6.8 6.8 6.8 298.1 318.9 329.9 177.8 177.0 176.8 126.5 125.8 124.4 304.3 302.9 301.2 Week Ending: 2006-Oct. 16 23 30 1. 2. 3. Traveler's Checks2 Nov. 6 13 20 27 744.5 744.7 746.3 747.3 6.8 6.8 6.8 6.8 307.8 295.3 313.0 321.5 174.8 174.2 175.4 175.5 129.0 125.2 125.6 126.9 303.8 299.3 301.0 302.4 Dec. 4p 11p 747.4 747.4 6.8 6.8 e 327.2 293.8 177.9 174.7 128.5 124.8 306.3 299.5 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-July Aug. Sep. 2691.2 2697.9 2719.5 862.4 865.2 859.3 3553.6 3563.1 3578.9 608.2 617.7 626.4 306.2 312.4 317.4 914.5 930.0 943.8 690.4 688.9 693.6 5158.5 5182.0 5216.3 1084.5 1097.1 1113.3 Oct. Nov. Dec. 2735.0 2744.2 2771.7 858.2 855.1 850.0 3593.2 3599.3 3621.7 622.9 627.2 633.9 330.7 336.8 339.8 953.6 964.0 973.7 697.9 699.8 701.0 5244.7 5263.1 5296.3 1125.3 1126.7 1142.4 2006-Jan. Feb. Mar. 2789.3 2792.9 2784.7 858.4 864.3 856.1 3647.8 3657.3 3640.8 642.5 653.0 663.9 344.5 349.8 355.3 987.0 1002.8 1019.2 709.7 711.4 719.1 5344.5 5371.5 5379.1 1156.7 1154.0 1161.2 Apr. May June 2799.5 2774.8 2790.0 840.4 844.6 846.8 3639.9 3619.3 3636.9 671.8 679.2 688.1 360.9 366.2 372.3 1032.7 1045.4 1060.4 722.8 730.1 749.8 5395.3 5394.8 5447.0 1175.3 1190.6 1206.1 July Aug. Sep. 2781.3 2767.6 2771.0 840.6 845.2 838.8 3621.8 3612.8 3609.8 700.7 713.2 723.6 380.6 390.9 401.3 1081.2 1104.1 1124.9 762.1 775.2 786.4 5465.2 5492.1 5521.1 1217.1 1241.9 1263.4 Oct. Nov. p 2828.0 2846.5 797.9 795.3 3625.9 3641.8 746.3 756.6 399.4 402.7 1145.7 1159.2 798.2 807.7 5569.8 5608.8 1285.1 1298.6 2844.5 2826.8 2808.2 792.5 803.1 808.5 3637.0 3630.0 3616.7 745.0 747.8 751.0 398.8 400.5 401.4 1143.8 1148.3 1152.4 798.7 797.7 799.3 5579.5 5575.9 5568.4 1290.5 1283.0 1280.8 Week Ending: 2006-Oct. 16 23 30 1. 2. At thrift institutions Nov. 6 13 20 27 2847.7 2844.3 2843.5 2841.5 791.6 789.4 795.0 799.7 3639.3 3633.8 3638.4 3641.2 753.1 754.6 756.7 759.5 402.1 402.9 403.7 402.2 1155.2 1157.5 1160.4 1161.7 805.2 807.3 805.6 810.9 5599.7 5598.6 5604.4 5613.8 1296.1 1290.8 1294.8 1302.3 Dec. 4p 11p 2855.9 2883.4 790.3 786.4 3646.3 3669.8 760.8 762.3 401.8 402.5 1162.6 1164.8 811.5 815.1 5620.3 5649.7 1322.3 1318.2 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-July Aug. Sep. 711.4 712.3 714.3 7.5 7.5 7.4 328.9 336.4 324.2 178.3 181.6 178.2 137.7 137.8 136.9 316.1 319.4 315.1 Oct. Nov. Dec. 715.7 720.3 728.9 7.2 7.1 7.2 326.7 329.1 337.7 176.6 177.9 184.9 137.7 138.7 137.9 314.2 316.6 322.7 2006-Jan. Feb. Mar. 727.2 733.6 736.8 7.2 7.0 6.9 319.4 311.0 328.0 186.5 176.5 183.7 135.0 133.7 138.5 321.4 310.2 322.2 Apr. May June 738.7 741.9 741.1 6.8 6.9 7.0 320.6 325.3 318.1 184.8 180.8 177.7 142.0 136.4 134.1 326.7 317.2 311.8 July Aug. Sep. 741.1 740.4 739.5 7.0 7.0 6.8 313.0 316.7 300.5 172.2 172.5 170.3 133.7 132.5 129.6 305.9 305.1 299.9 Oct. Nov. p 740.7 746.2 6.7 6.7 311.0 313.8 173.8 173.0 126.6 126.6 300.4 299.6 740.0 740.7 740.5 6.7 6.7 6.7 280.0 326.4 358.0 168.9 174.7 181.6 123.7 125.6 127.6 292.6 300.3 309.2 Week Ending: 2006-Oct. 16 23 30 1. 2. 3. Traveler's Checks2 Nov. 6 13 20 27 744.3 745.2 745.5 749.1 6.7 6.7 6.7 6.7 283.3 274.2 315.6 363.3 169.7 164.3 173.1 180.6 129.1 123.9 124.7 127.6 298.8 288.1 297.8 308.1 Dec. 4p 11p 748.4 750.7 6.6 6.7 e 322.8 269.2 179.4 169.7 130.9 125.1 310.4 294.8 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-July Aug. Sep. 2700.8 2696.4 2727.9 865.5 864.7 862.0 3566.3 3561.1 3589.9 608.6 618.2 626.6 306.4 312.6 317.5 915.0 930.8 944.1 685.6 686.9 690.8 5166.9 5178.8 5224.9 1072.9 1094.8 1110.6 Oct. Nov. Dec. 2740.3 2756.0 2776.0 859.9 858.7 851.3 3600.2 3614.7 3627.3 622.7 626.8 633.3 330.6 336.6 339.5 953.3 963.4 972.8 695.4 700.3 705.7 5248.8 5278.3 5305.8 1119.2 1128.7 1162.6 2006-Jan. Feb. Mar. 2767.1 2767.7 2778.7 851.6 856.5 854.2 3618.7 3624.3 3632.9 641.8 652.6 663.8 344.2 349.5 355.3 985.9 1002.1 1019.1 714.8 715.8 723.4 5319.4 5342.1 5375.3 1180.1 1167.5 1163.7 Apr. May June 2828.1 2761.9 2789.0 849.0 840.6 846.5 3677.0 3602.6 3635.5 672.2 679.7 688.7 361.0 366.5 372.6 1033.2 1046.2 1061.3 725.5 726.0 744.9 5435.8 5374.7 5441.7 1164.8 1172.5 1196.2 July Aug. Sep. 2790.3 2765.2 2784.2 843.3 844.4 842.8 3633.6 3609.6 3627.0 701.2 713.8 723.9 380.9 391.2 401.5 1082.1 1105.1 1125.4 756.6 771.9 783.2 5472.2 5486.6 5535.7 1205.9 1238.4 1258.9 Oct. Nov. p 2828.5 2858.9 798.1 798.8 3626.6 3657.7 745.9 756.0 399.3 402.3 1145.2 1158.3 795.5 808.4 5567.2 5624.4 1279.4 1301.0 2889.3 2798.7 2744.6 805.0 795.1 790.2 3694.3 3593.9 3534.8 744.9 747.2 750.0 398.8 400.1 401.0 1143.7 1147.3 1151.0 796.9 796.9 797.3 5634.9 5538.1 5483.1 1287.4 1284.2 1279.2 Week Ending: 2006-Oct. 16 23 30 1. 2. At thrift institutions Nov. 6 13 20 27 2887.6 2902.5 2863.6 2806.0 802.7 805.6 800.6 789.7 3690.3 3708.1 3664.2 3595.7 752.3 753.9 756.0 758.9 401.7 402.6 403.4 401.9 1154.1 1156.5 1159.4 1160.8 802.2 806.3 806.0 815.2 5646.6 5670.9 5629.6 5571.6 1283.4 1287.3 1302.1 1316.2 Dec. 4p 11p 2871.2 2933.6 794.6 800.1 3665.8 3733.7 760.5 762.0 401.7 402.3 1162.2 1164.4 815.6 824.2 5643.6 5722.3 1330.3 1350.4 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-July Aug. Sep. 7.0 7.1 7.1 1.2 1.1 1.0 22.7 23.3 23.9 1.2 1.2 2.3 4.8 5.0 5.3 13.7 7.5 28.3 19.7 13.7 35.9 1.8 1.9 2.0 169.5 169.9 170.2 102.7 102.9 103.2 160.0 161.4 162.8 432.1 434.2 436.2 Oct. Nov. Dec. 7.2 7.1 7.1 1.0 1.0 1.0 24.9 26.3 27.6 1.5 1.2 1.4 4.9 4.9 5.1 18.7 8.9 23.0 25.1 15.0 29.6 2.0 1.8 1.5 171.3 172.9 174.5 103.3 103.2 103.1 164.5 166.6 168.6 439.0 442.7 446.3 2006-Jan. Feb. Mar. 7.1 7.3 7.5 1.1 1.3 1.6 27.7 27.0 26.2 3.1 1.2 1.3 4.9 5.2 5.0 28.9 17.1 11.4 37.0 23.4 17.8 1.5 1.5 1.5 175.8 176.6 177.5 103.3 103.8 104.3 170.4 172.0 173.5 449.6 452.4 455.3 Apr. May June 7.3 6.7 6.2 1.5 1.4 1.2 27.3 30.1 32.9 6.6 1.8 2.5 5.0 5.3 5.1 21.9 41.5 27.1 33.5 48.6 34.7 1.5 1.6 1.6 178.7 180.2 181.7 104.9 105.5 106.1 175.2 e 177.0 e 178.9 e 458.7 e 462.7 e 466.7 e July Aug. Sep. 5.9 e 5.9 e 5.9 e 1.1 e 1.1 e 1.1 e 34.3 e 34.3 e 34.3 e 1.2 1.0 2.8 5.0 4.9 4.9 14.2 6.8 30.0 20.4 12.7 37.7 1.6 e 1.6 e 1.6 e 182.5 e 182.5 e 182.5 e 106.4 e 106.4 e 106.4 e 179.7 e 179.7 e 179.7 e 468.6 e 468.6 e 468.6 e Oct. Nov. p 5.9 e 5.9 e 1.1 e 1.1 e 34.3 e 34.3 e 1.6 1.1 5.4 4.9 19.3 19.3 26.4 25.3 1.6 e 1.6 e 182.5 e 182.5 e 106.5 e 106.5 e 179.7 e 179.7 e 468.6 e 468.7 e 1.7 2.5 1.3 4.7 5.1 5.1 7.8 15.8 26.5 14.3 23.4 32.8 Week ending: 2006-Oct. 16 23 30 1. U.S. Government deposits Nov. 6 13 20 27 1.2 1.0 1.2 1.0 5.1 4.9 4.8 4.9 34.9 29.5 11.1 9.0 41.3 35.5 17.1 14.9 Dec. 4p 11p 1.1 1.1 5.1 4.7 5.9 8.0 12.1 13.9 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. 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