Full text of H.6 Money Stock Measures : December 27, 1996

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES6

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

Billions of dollars

Date

Deoember27,1996

M11

M22

M33

DEBT5

Seasonally adjusted
1994-Dec.

1148.7

3509.2

4319.2

5302.9

13148.4

1995-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1149.2
1147.7
1148.7
1151.2
1146.1
1144.5
1145.4
1143.8
1140.1
1131.8
1129.0
1124.9

3513.9
3513.8
3518.8
3528.4
3540.8
3569.1
3587.0
3607.3
3620.8
3628.4
3640.2
3657.4

4341.8
4351.9
4369.2
4390.8
4417.0
4453.2
4480.4
4508.8
4530.0
4545.8
4557.7
4572.4

5329.1
5360.5
5395.3
5427.6
5452.8
5489.6
5538.2
5575.1
5622.1
5649.5
5656.4
5681.9

13201.7
13277.3
13345.2
13405.5
13482.6
13560.6
13613.9
13654.2
13704.4
13764.1
13820.7
13866.9

1996-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.

1119.2
1117.3
1126.7
1123.6
1117.0
1116.4
1107.9
1098.7
1090.8
1075.5
1075.7

3671.6
3687.2
3722.1
3727.1
3720.6
3736.7
3741.7
3753.5
3763.9
3773.1
3797.6

4600.3
4638.1
4680.1
4688.6
4701.7
4722.2
4733.0
4751.6
4779.3
4813.4
4842.4

5700.4
5720.7
5779.7
5807.0
5804.5
5834.3
5850.0
5881.5
5921.6
5940.8 p

13917.4
13989.8
14065.9
14130.6
14185.9
14244.9
14314.7
14368.9
14414.3
14469.8 p

Not seasonally adjusted
1994-Dec.

1174.2

3529.6

4340.9

5332.3

13150.0

1995-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1159.0
1134.7
1138.8
1159.8
1133.4
1140.5
1145.1
1138.5
1137.3
1131.0
1136.5
1150.7

3517.0
3495.6
3512.5
3542.9
3527.3
3567.6
3592.5
3608.5
3617.3
3624.4
3645.8
3677.1

4346.3
4333.9
4361.0
4398.2
4403.1
4451.2
4481.0
4512.2
4524.7
4545.8
4570.7
4593.4

5341.8
5349.6
5396.8
5435.2
5434.4
5481.9
5534.4
5575.6
5607.2
5639.2
5669.8
5711.5

13181.5
13235.1
13305.4
13359.3
13432.4
13516.8
13561.6
13607.2
13669.6
13730.4
13805.4
13867.4

1996-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.

1128.1
1103.6
1116.0
1129.9
1103.8
1112.5
1107.9
1094.7
1088.3
1074.9
1083.4

3673.4
3667.7
3714.8
3740.0
3706.1
3735.0
3748.7
3757.5
3761.0
3768.8
3803.5

4604.8
4619.1
4669.9
4693.4
4686.7
4719.7
4735.3
4757.7
4774.2
4814.2
4856.5

5713.7
5709.7
5780.5
5812.4
5785.3
5825.7
5847.3
5884.7
5906.3
5932.0 p

13898.7
13952.7
14036.4
14094.3
14140.5
14200.8
14258.4
14317.9
14377.1
14434.3 p

Footnotes appear on the following page
p

preliminary




Page 2
H.6(508)
Table 2

MONEY STOCK AMD DEBT MEASURES
Percent change at seasonally adjusted annual rates

M1

M2

M3

DEBT1

3 Months from Aug. 1996 TO Nov. 1996

-8.4

4.7

7.6

4.3

6 Months from May

1996 TO Nov. 1996

-7.4

4.1

6.0

4.8

12 Months from Nov. 1995 TO Nov. 1996

-4.7

4.3

6.2

5.1

-9.4

4.1

7.3

June 17, 1996 (26 weeks previous)

-7.7

3.3

5.7

Dec.

-4.7

4.2

6.1

Thirteen weeks ending December 16
1996
from thirteen weeks ending:
Sep. 16, 1996 (13 weeks previous)

18, 199-5 (52 weeks previous)

1,

Growth rates for debt are based on penods beginning and ending one month earlier than for the monetary aggregates, namely, July 1996 to October 1996, April 1996 to October 1996,
and October 1995 to October 1996, respectively.
'
^
Footnotes to TarJe 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 (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 calculated by
summing currency, travelers checks, demand deposits, and OCDs, each seasonally adjusted separately.
Consists of M1 plus 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 retail money market mutual funds (money funds with minimum initial investments of less than $50,000). Excludes individual retirement account (IRA) and Keogh balances at depository institutions and money market funds. Seasonally adjusted M2 is computed by summing savings deposits, smalldenomination time deposits, and retail money fund balances, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.
Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more), balances in institutional money funds (money funds with minimum initial investments of $50,000 or more), RP liabilities (overnight and term) issued by all depository institutions, and Eurodollars (overnight and term) held by U.S. residents at foreign
branches of U.S. banks worldwide and at all banking offices in the United Kingdom and Canada. Excludes amounts held by depository institutions, the U.S. government,
money funds, and foreign banks and official institutions. Seasonally adjusted M3 is calculated by summing large time deposits, institutional money fund balances, RP
liabilities, and Eurodollars, each seasonally adjusted separately, and 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: The debt aggregate is the outstanding credit market debt of the domestic nonfinancial sectors — the federal sector (U.S. government, not including governmentsponsored enterprises or federally related mortgage pools) and the nonfederal sectors (state and local governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal debt consists of mortgages, tax-exempt and corporate bonds, consumer credit, bank loans,
commercial paper, and other loans. The data, which are derived from the Federal Reserve Board's flow of funds accounts, are break-adjusted (that is, discontinuities in
the data have been smoothed into the series) and month-averaged (that is, the data have been derived by averaging adjacent month-end levels). The presentation of the
debt data in this release differ, therefore, from the quarterly flow of funds statistics contained in the Federal Reserve releases Z.7 and Z.1. In those releases, published
levels of credit market debt are measured on a quarter-end basis and contain discontinuities.
Note: Updated current and historical data for aggregate and component series in the H.6 statistical release are available each week on the Economic Bulletin Board of the
U.S. Commerce Department. Monthly data are available back to January 1959, and weekly data are available back to January 1975 for most series. For information on
how to access the Commerce bulletin board, call (202) 482-1986 or toll-free (800) STAT-USA (800-782-8872).




Page 3
H.6(508)
Table 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjusted

M1
Period ending

M3

M2

3757.9
3756.5

13-week
average
4749.7
4754.2

4-week
average
4773.9
4779.7

week
average
4785.6
4781.2

3762.4
3762.4
3767.3
3773.4

3766.5
3768.8
3777.5
3780.9

4759.0
4765.5
4772.4
4779.1

4786.3
4794.4
4803.9
4813.7

4798.4
4812.5
4823.3
4820.6

3765.5
3768.7
3772.1
3774.9

3779.3
3785.0
3789.9
3792.8

3790.0
3791.7
3797.1
3792.3

4786.0
4792.2
4799.4
4806.0

4821.7
4826.2
4831.5
4836.6

4830.4
4830.6
4844.2
4841.2

3779.4
3783.3
3787.5

3798.6
3806.1
3812.5

3813.1
3822.0
3822.6

4813.9
4822.5
4831.1

4844.3
4857.3
4869.4

4861.3
4882.6
4892.5

4-week
average
1092.4
1090.2

week
average
1086.5
1088.4

13-week
average
3751.1
3752.6

4-week
average
3763.2
3763.7

week
average

1 9 9 6 - s e p . 23
30

13-week
average
1100.9
1098.7

Oct.

7
14
21
28

1096.2
1093.6
1091.3
1089.0

1084.5
1079.0
1076.7
1074.6

1072.9
1068.3
1077.3
1080.0

3754.5
3757.0
3759.8
3762.7

Nov.

4
11
18
25

1086.9
1084.6
1083.0
1081.1

1076.5
1076.5
1076.1
1074.6

1080.3
1068.3
1075.7
1074.0

Dec.

2
9P
16p

1080.4
1078.5
1077.1

1076.4
1077.0
1076.2

1087.6
1070.5
1072.7

Not seasonally adjusted
1 9 9 6 - S e p . 23
30

1099.5
1096.5

1091.8
1087.7

1071.3
1074.3

3755.2
3755.5

3765.5
3760.7

3737.6
3732.1

4751.8
4755.5

4774.9.
4774.1

4761.3
4753.9

Oct.

7
14
21
28

1093.3
1090.5
1088.7
1086.5

1081.1
1076.2
1077.2
1074.1

1083.1
1075.9
1075.3
1062.2

3756.1
3757.7
3760.1
3762.0

3756.5
3756.2
3764.5
3769.6

3776.5
3778.5
3771.0
3752.4

4760.1
4766.3
4773.4
4779.8

4778.6
4787.1
4802.3
4814.4

4808.9
4824.3
4822.0
4802.5

Nov.

4
11
18
25

1084.5
1082.7
1082.1
1081.7

1074.9
1075.5
1078.4
1080.9

1086.0
1078.5
1087.0
1072.2

3763.8
3766.6
3770.3
3774.0

3773.0
3779.3
3788.6
3797.4

3790.2
3803.4
3808.4
3787.7

4786.4
4792.8
4800.7
4808.3

4822.0
4828.6
4838.3
4849.3

4839.0
4850.7
4861.0
4846.3

Dec*

2
9p
16p

1082.3
1080.9
1080.8

1084.2
1087.5
1089.1

1099.0
1091.7
1093.5

3779.2
3783.2
3788.1

3804.7
3814.9
3823.7

3819.3
3844.3
3843.4

4817.5
4826.3
4836.1

4858.6
4872.4
4886.5

4876.4
4905.8
4917.5

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 data.




H.6(508)
Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Other checkable deposits
Currency1

Date

4.
5.
6.
7.
e

Nontransactions components

At commercial
banks 4

At thrift
institutions5

Total

lnM2*

In M3 only7

1995-July
Aug.
Sep.

367.3
368.5
369.5

8.9
8.9
8.8

388.5
389.3
389.4

276.2
272.0
266.4

104.6
105.1
106.0

380.8
377.2
372.4

2441,
2463,
2480,

893.4
901.5
909.1

Oct.
Nov.
Dec.

370.8
371.6
373.2

8.8
8.9
8.9

388.1
388.2
389.8

258.1
254.1
245.6

105.9
106.3
107.4

364.1
360.4
353.0

2496,
2511,
2532,

917.4
917.5
914.9

1996-Jan.
Feb.
Mar.

373.6
373.3
375.2

8.9
8.9
8.9

393.5
397.4
407.1

236.5
230.4
226.0

106.6
107.4
109.4

343.2
337.8
335.4

2552.5
2569.9
2595.4

928.6
950.9
958.0
961,
981,
985,

Apr.
May
June

376,
377,
379,

406,
409.
413,

225.4
214.5
207.6

107.1
107.2
107.3

332.4
321.8
315.0

2603,
2603,
2620,

July
Aug.
Sep.

382,
385,
387,

410,
407,
405,

201.6
193.5
186.1

105.1
104.9
103.9

306.
298,
290,

2633.8
2654.8
2673.1

991,
998.
1015.

Oct.
Nov.

390,
392,

395.8
400.3

177.0
170.4

103.9
103.7

280.
274.

2697
2722

1040.
1044.

We eft e n d i n g
1 9 9 6 - O c t . 21
28

390.8
390.9

8.5
8.6

397.3
397.0

177.0
179.3

103.7
104.3

280.7
283.6

2700.2
2700.9

1045.8
1039.7

Nov.

4
11
18
25

390.5
391.5
391.8
392.4

8.6
8.6
8.6
8.7

400.0
396.3
401.9
398.3

175.7
167.9
170.3
172.1

105.4
104.0
103.0
102.5

281.2
271.8
273.3
274.6

2709.7
2723.4
2721.4
2718.3

1040.4
1038.9
1047.1
1049.0

Dec.

2

396.6
395.7
395.4

8.7
8.7 e
8.6 e

406.3
398.6
401.5

172.1
164.3
165.2

104.0
103.2
102.1

276.1
267.5
267.3

2725.5
2751.4
2749.8

1048.2
1060.7
1069.9

9P
16p
1.
2.
3.

Travelers checks2 Demand deposits3

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.
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.
Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
Sum of savings deposits (including money market deposit accounts), small time deposits, and retail money fund balances, each seasonally adjusted separately.
Sum of large time deposits, institutional money fund balances, RP liabilities (overnight and term) issued by depository institutions, and Eurodollars (overnight and term) of
U.S. addressees, each seasonally adjusted separately.
estimated




p

preliminary

Page 5
H.6(508)
Table 4 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Small-denomination time deposits2

Savings deposits1
Date

At
commercial
banks
731.3
739.1
746.3

At
thrift
institutions
365.0
362.4
362.1

1096.2
1101.6
1108.4

At
commercial
banks
566.2
569.6
571.5

Oct.
Nov.
Dec.

753.9
760.3
775.0

362.2
360.3
359.5

1116.1
1120.6
1134.6

1996-Jan.
Feb.
Mar.

793.2
804.1
821.0

358.6
360.4
362.1

Apr.
May
June

826,
829,
838,

July
Aug.
Sep.
Oct.
Nov.

1995-July
Aug.
Sep.

Week ending
1996-Oct. 21
28

1.
2.
3.
4.
5.
6.
p

—St

Retail
money
funds*

Institutional
money
funds4

Large-denomination time deposits5

R

— S t —

352.8
353.7
355.0

919.0
923.3
926.4

426,
438,
445,

218.6
218.5
221.7

commercial
banks9
320.8
323.0
326.6

573.1
576.6
578.3

356.7
358.5
359.4

929.8
935.1
937.7

450,
455,
460,

223.7
224.8
227.2

335.2
340.5
342.1

74.4
74.8
75.1

409.7
415.3
417.2

1151.8
1164.5
1183.0

580.7
580.1
577.9

356.8
356.9
354.4

937.
937,
932,

463.2
468.4
480.1

230.6
243.9
248.3

340.0
345.4
352.9

76.1
76.2
75.6

416.1
421.6
428.5

366.3
367.9
368.8

1193,
1197
1207

576.2
574.8
575.0

353.8
353,
352,

930.1
927.8
927.0

480,
478,
486,

245,
243,
249,

355,
362,
368.8

75,
75,
75,

431.3
437.5
444.2

844,
857,
864,

368.6
367.1
366.8

1213,
1224,
1231,

577,
580,
583,

351,
352.
353,

928.7
932.8
936.8

491,
497,
504,

252,
257,
262

373,
375
381

76,
76,
78

449.8
452.5
459.5

877,
890,

367.8
367.2

1244.8
1257.9

586.5
590.5

355,
356,

941.8
946.7

511.
517,

264,
267

397
402

78
79,

476.0
482.2

878.6
874.6

368.3
367.8

1246.9
1242.5

586.5
587.4

355.7
356.2

942.2
943.6

511.1
514.8

267.4
262.1

399.1
402.3

78.9
79.0

478.0
481.3

Total

thrift
institutions

Total

thrift
institutions
72.7
73.3
73o7

Total
393.5
396.4
400.3

Nov.

4
11
18
25

882.3
892.1
890.7
886.7

367.8
368.3
366.9
366.0

1250.1
1260.4
1257.6
1252.7

587.9
588.7
590.5
591.8

356.8
356.7
356.0
356.0

944.6
945.4
946.6
947.8

514.9
517.7
517.2
517.8

262.5
264.1
270.7
269.7

399.8
398.9
401.3
406.3

79.5
79.5
79.6
79.4

479.3
478.4
480.8
485.8

Dec.

2
9P
16p

892.0
906.2
904.6

366.5
368.6
368.6

1258.6
1274.8
1273.2

593.1
593.3
593.5

355.8
355.8
355.7

948.9
949.1
949.1

518.0
527.5
527.5

268.2
275.1
281.2

407.8
410.5
413.3

79.5
79.4
79.1

487.3
489.9
492.4

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.
Balances in money funds with minimum initial investments of less than $50,000.
Balances in money funds with minimum initial investments of $50,000 or more.
Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. government, and foreign banks and
official institutions.
preliminary




Page 6
H.6(508)
Table 4 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted

RPs.11

Date

Non-M3 Components of L

2

Eurodollars

Savings bonds

1995-July

lflfi.7

153.0

Bankers
acceptances4

13.4
12.6
12.0

440.5
437.1
437.1

3626.5
3635.9
3638.8

10137.6
10184.8
10228.1

466.1
445.1
459.5

11.8
10.3
9.8

437.2
442.3
445.1

3639.6
3658.0
3685.1

10277.8
10331.8
10380.8

185.6
186.0
186.4

461.4
432.6
443.5

10.3
10.8
11.4

461.0
473.4
470.9

3698.0
3704.3
3710.8

10432.6
10481.6
10534.1

186.8
187.2
187.3

445.7
452.8
461.1

11.4
11.3
11.5

473.1
478.6
482.4

3729.4
3743.4
3746.5

10585.3
10625.5
10667.8

187.3 p

449.4 p

11.6 p

479.1 p

3758.2 p

10711.6 p

183.5
183.9

Oct.
Nov.
Dec.

191.2
186.8
179.4

92.9
90.7
91.1

1996-Jan.
Feb.
Mar.

186.6
188.7
186.8

Apr.
May
June

437.1
456.8

12.4
12.8

184.2
184.5
184.8

465.6
464.5
475.7

95.4
96.6
94.4

185.0
185.0
185.2

187.6
203.1
194.3

97.0
97.1
97.6

July
Aug.
Sep.

192.5
191.6
194.7

96.2
96.8
98.5

Oct.
Nov.

196.9
194.1

103.1
101.1

197.6
193.2

102.8
103.1

Nov.

4
11
18
25

195.1
194.9
195.8
193.4

103.5
101.6
99.8
100.1

Dec.

2

190.7
188.9
189.5

102.0
106.8
106.8

16p

Non-Federal debt
10005.4

93.1
93.7

">

Federal debt
3508.5

193.5
193.5

I3TT

Commercial paper5
Z757Q

Aug*
Sep.

Weeh ending
1996-Oct. 21
28

4.
5.
6.

92.5

Short-term
TreasMrv,
secuntes3
I3TT7

Debt components6

433.3
438.6

3613.8
3616.5

10040.4
10087.9

Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United Kingdom and Canada,
excluding those held by depository institutions and by money 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.
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.

p
preliminary



Page 7
H.6(508)
Table 5

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted

cy1

Date

Travelers
checks 2

Demand
deposits 3

Nontransactions components

Other checkable deposits

At commercial
banks4

At thrift
institutions8

Total

lnM2 6

In M3 only7

1995-July
Aug.
Sep.

369.1
369.1
369.3

9.5
9.5
9.3

388.8
386.8
388.5

272.7
268.7
264.7

105.1
104.4
105.6

377.8
373.1
370.3

2447.3
2470.1
2480.0

888.6
903.6
907.5

Oct.
Nov.
Dec.

370.0
371.7
376.1

8.9
8.7
8.5

391.1
395.8
407.9

255.6
253.9
249.7

105.4
106.4
108.4

361.0
360.3
358.1

2493.4
2509.3
2526.4

921.3
924.8
916.3

1996-Jan.
Feb.
Mar.

37*.7
370.8
374.3

8.5
8.5
8.6

399.0
388.3
397.5

242.3
230.5
226.4

106.6
105.5
109.2

348.9
336.0
335.6

2545.3
2564.0
2598.8

931.5
951.5
955.1

Apr.
May
June

375.8
377.5
380.5

8.6
8.6
8.9

406.0
399.3
409.5

229.8
211.5
206.0

109.6
106.8
107.6

339.4
318.3
313.6

2610.1
2602.2
2622.6

953.4
980.6
984.6

July
Aug.
Sep.

383.8
385.9
386.8

9.1
9.0
8.8

410.7
404.5
404.2

199.1
191.2
185.0

105.2
104.0
103.4

304.3
295.2
288.4

2640.7
2662.8
2672.7

986.6
1000.2
1013.2

Oct.
Nov.

389.0
392.8

8.6
8.4

398.9
408.0

175.2
170.4

103.2
103.8

278.5
274.1

2693.9
2720.1

1045.3
1053.0

W««fc rafting
1996-Oct. 21
28

389.0
388.2

8.6
8.6

400.2
390.1

174.7
175.1

102.8
100.3

277.5
275.4

2695.7
2690.1

1051.1
1050.2

Nov.

4
11
18
25

390.3
393.3
391.9
392.0

8.5
8.5
8.4
8.4

405.8
402.7
413.6
401.1

175.6
169.0
170.3
170.4

105.8
105.0
102 .8
100.4

281.5
273.9
273.1
270.8

2704.2
2725.0
2721.4
2715.5

1048.8
1047.3
1052.7
1058.5

Dec.

2

394.7
396.1
396.6

8.3
8.3
8.2

418.8
413.2
418.3

172.0
168.0
167.4

105.1
106.0
103.0

277.2
274.0
270.5

2720.3
2752.6
2749.9

1057.1
1061.5
1074.2

16p
1.
2.
3.
4o
5.
6.
7.
e

e
e

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.
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.
Consists of N O W and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of N O W and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
Sum of savings deposits (including money market deposit accounts), small time deposits, and retail money fund balances.
Sum of large time deposits, institutional money fund balances, RP liabilities (overnight and term) issued by depository institutions, and Eurodollars (overnight and term) of
U.S. addressees.
estimated




p

preliminary

Page 8
H.6(508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Savings deposits1
At
commercial
banks

At
thrift
institutions

Total

At
commercial
banks

At
thrift
institutions

Total

Retail
money
funds*

1995-JUly
Aug.
Sep.

733.3
741.5
748.0

365.9
363.6
363.0

1099.2
1105.1
1111.0

568.4
570.9
571.7

354.2
354.5
355.1

922.6
925.4
926.8

425.5
439.5
442.2

Oct.
Nov.
Dec.

755.4
763.4
775.0

362.9
361.7
359.5

1118.3
1125.1
1134.5

572.5
573.7
574.3

356.3
356.8
356.9

928.8
930.5
931.3

1996-Jan.
Feb.
Mar.

789.5
798.9
819.0

356.9
358.1
361.2

1146.3
1157.0
1180.1

578.3
579.2
579.1

355.4
356.3
355.1

Apr.
May
June

825.9
827.7
839.9

365.9
367.0
369.5

1191.8
1194.7
1209.4

578.2
576.9
577.1

JUly
Aug.
Sep.

847.4
860.3
866.9

369.7
368.4
367.8

1217.1
1228.7
1234.7

Oct.
Nov.

878.9
894.4

368.6
368.7

879.8
872.4

Date

WeeK e n d i n g
1 9 9 6 - O c t . 21
28

1.
2.
3.
4.
5.
6.
p

Smafl-denomination time deposits 2

Institutional
money4
funds

Large-denomination time deposits 5
At
commercial
banks6

At
thrift
institutions

Total

215.9
218.4
218.1

319.4
323.9
327.3

72.4
73.5
73.9

391.8
397.5
401.2

446.3
453.7
460.6

221.8
227.1
229.4

337.6
343.4
342.0

74.9
75.4
75.1

412.5
418.8
417.1

933.7
935.4
934.2

465.2
471.6
484.5

238.2
249.6
248.7

337.3
343.8
351.4

75.5
75.9
75.3

412.8
419.7
426.7

355.0
354.3
353.2

933.2
931.2
930.4

485.1
476.4
482.9

242.8
241.1
244.5

352.9
364.7
369.6

75.1
75.6
75.5

428.0
440.3
445.1

580.0
582.0
583.6

352.6
353.1
353.3

932.5
935.1
936.9

491.1
499.1
501.1

250.2
256.9
258.0

371.9
376.6
382.3

75.8
76.9
78.1

447.7
453.5
460.4

1247.5
1263.1

585.6
587.4

354.8
354.4

940.4
941.8

506.0
515.2

262.6
269.9

400.2
406.4

79.6
80.2

479.7
486.6

368.8
366.9

1248.6
1239.2

585.4
585.5

355.0
355.1

940.4
940.5

506.6
510.4

266.6
262.2

401.7
405.5

79.4
79.6

481.1
485.1

Nov.

4
11
18
25

884.5
898.4
896.1
888.3

368.7
370.8
369.1
366.6

1253.1
1269.2
1265.2
1254.9

585.7
586.2
587.5
588.2

355.4
355.2
354.2
353.8

941.1
941.4
941.7
942.1

510.0
514.4
514.5
518.5

263.5
265.9
271.7
274.0

403.1
403.6
404.8
410.0

80.1
80.4
80.3
80.2

483.2
484.1
485.0
490.2

Dec.

2
9p
16p

893.7
911.0
907.5

367.2
370.5
369.8

1260.9
1281.6
1277.3

589.2
589.2
588.9

353.5
353.4
352.9

942.7
942.6
941.8

516.7
528.5
530^.7

272.6
276.0
284.7

410.2
412.3
414.9

79.9
79.8
79.4

490.2
492.1
494.3

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.
Balances in money funds with minimum initial investments of less than $50,000.
Balances in money funds with minimum initial investments of $50,000 or more.
Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. government, and foreign
banks and official institutions.
preliminary




Page 9
H.6(508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted

RPs1
Date

At commercial
banks

At thrift
institutions

Debt components6

Non-M3 Components of L
Total

Eurodollars2

Savings bonds

Short-term
Trea$gry
securities3

Bankers
acceptances 4

Commercial
paper6

Federal debt

Non-Federal
debt

1995-July
Aug.
Sep.

143.6
147.4
146.4

45.6
47.2
47.9

189.2
194.6
194.3

91.7
93.2
93.9

182.8
183.0
183.3

434.6
439.8
447.2

11.6
11.9
12.6

424.4
428.7
439.4

3588.8
3602.2
3606.8

9972.8
10005.0
10062.8

Oct.
Nov.
Dec.

146.2
140.3
132.6

47.0
46.3
45.4

193.2
186.6
178.0

93.9
92.3
91.9

183.8
184.3
184.8

450.2
462.1
483.0

13.2
12.5
12.1

446.2
440.1
438.1

3610.1
3635.9
3645.9

10120.3
10169.4
10221.4

1996-Jan.
Feb.
Mar.

140.3
140.6
139.4

45.0
45.3
45.6

185.3
185.9
185.0

95.2
96.3
94.8

185.1
185.4
185.7

470.2
451.8
470.6

12.3
10.6
10.0

441.3
442.7
444.3

3634.4
3655.5
3698.1

10264.3
10297.2
10338.3

Apr.
May
June

139.1
152.6
147.2

47.9
50.8
51.0

187.0
203.4
198.2

95.6
95.8
96.8

186.1
186.3
186.4

461.4
430.1
441.1

10.5
10.8
11.5

461.1
471.4
467.0

3699.5
3692.1
3698.1

10394.9
10448.5
10502.7

July
Aug»
Sep.

142.7
143.0
146.5

50.4
49.6
49.2

193.1
192.7
195.7

95.5
97.2
99.0

186.6
186.7
186.7

446.8
455.9
451.0

10.9
10.8
11.3

467.8
473.6
483.1

3708.3
3730.9
3736.1

10550.1
10587.0
10641.1

Oct.
Nov.

150.1
145.3

48.7
48.3

198.8
193.6

104.3
102.8

186.8 p

433.9 p

11.4 p

485.7 p

3740.9 p

10693.4 p

151.0
148.1

48.5
49.0

199.5
197.0

103.8
105.7

»

W9?ft e n d i n a
1 9 9 6 - O c t . 21
28
Nov.

4
11
18
25

148.3
146.6
147.0
143.3

48.8
48.3
47.9
48.3

197.1
194.9
194.9
191.6

105.0
102.4
101.1
102.7

Dec.

2

141.7
139.5
141.2

48.4
47.8
47.1

190.1
187.2
188.3

104.2
106.3
106.8

16p

4.
5.
6.

Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United Kingdom and Canada,
excluding those held by depository institutions and by money 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.
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.

p

preliminary

1.
2.




Page 10
H.6(508)
Table 6

MEMORANDUM ITEMS
Billions of dollars, not seasonally adjusted

Demand deposits
at banks due to

U.S. government deposits
At
commercial
banks

At
thrift
institutions

At
money
market
funds

Total

37.6
21.7
30.6

2.8
2.9
2.8

148.9
149.1
149.4

107.8 e
107.7 e
108.3 e

74.8
74.4
74.1

331.4 e
331.3 e
331.9 e

14.6

19.8
16.5
27.1

2.8
1.6
1.1

149.9
149.8
149.9

108.4 e
108.2 e
108.2 e

74.3
74.9
75.5

332.5 e
332.9 e
333.6 e

6.2
5.0
5.7

15.9
13.2
10.8

26.5
21.2
20.6

1.2
1.3
1.2

150.2
150.2
150.2

107.9 e
107.6 e
107.4 e

76.6
78.2
79.8

334.8 e
336.0 e
337.5 e

5.8
2.8
4.8

7.2
5.7
6.1

11.6
10.1
14.5

24.6
18.7
25.4

3.2
4.5
4.4

150.6
150.8
151.1

107.1 e
107.1 e
107.2 e

81.0 e
81.8 e
82.5 e

338.7 e
339.6 e
340.8 e

13.2
13.6
14.1

2.9
2.7
4.6

5.3
5.1
6.2

17.4
12.2
20.5

25.7
20.1
31.3

4.6
4.6
4.6

151.6
151.6
151.3

107.2 e
107.3 e
107.4 e

83.3 e
84.0 e
84.8 e

342.0 e
342.9 e
343.4 e

1.4
1.4

14.3
14.3

3.0
3.3

5.0
5.0

11.0
11.6

19.0
19.9

4.6
4.6

151.3
151.3

107.2 e
106.9 e

85.5 e
.86.0 e

344.0 e
344.3 e

8.6
8.6

1.4
1.4

14.3
14.3

3.7
2.5

5.0
5.3

10.3
14.6

19.0
22.4

4.7
4.6

4
11
18
25

8.6
8.6
8.6
8.6

1.4
1.4
1.4
1.4

14.3
14.3
14.3
14.3

3.5
2.6
4.1
2.5

5.0
5.1
5.0
5.0

13.8

22.2
14.9
17.2
21.0

4.6
4.6
4.6
4.6

2
9P
16p

8.6
8.6
8.6

1.4
1.4
1.4

14.3
14.3
14.3

3.5
2.6
6.7

4.8
4.6
5.7

27.0
10.2
17.1

4.6
4.6
4.6

Balance
at
Federal
Reserve

3.3
2.8
5.9

6?6
5.3
6.8

27.7
13.6
17.8

12.2
12.4
12.5

3.1
2.9
6.0

5.3
5.4
6.5

11.4

1.5
1.5
1.4

13.0
13.5
14.0

4.3
3.0
4.0

June

7.8
8.3
8.9

1.4
1.5
1.5

14.0
13.5
13.0

July
Aug.
Sep.

9.1
7.9
8.5

1.6
1.5
1.4

Oct.
Nov.

8.6
8.6

28

Foreign
commercial
banks

Foreign
official
institutions

Sepc

8.6
7.6
7.6

1.5
1.5
1.6

Oct.
Nov.
Dec«

8.4
8.3
8.4

1.5
1.6
1.5

1996-Jan.
Feb.
Mar.

8.4
8.2
8.0

Apr.

1995-July
Aug.

May

Week ending
1996-Oct. 21
Nov.

Dec.

estimated
preliminary




IRA and Keogh Accounts
Time and
savings
deposits at
commercial
banks

Demand
deposits at
commercial
banks

Date

e
p

Time and
savings
deposits
due to
foreign
banks and
official
institutions
15.1
13.9
12.7

Note
balances at
depository
institutions

8.2

7.2
8.1

13.4
18.7
2.9
4.7

Total
cash
balance

H.6 (508)
Special Supplementary Table

Monthly Survey of Selected Deposits 1
October 31,1996 and November 30,1996
(not seasonally adjusted)

Insured Commercial Banks
Amount Outstanding ($mil.)

Average Rate Paid (%)

Oct. 31
188,803

Nov. 30
167,497

Change
(percent)
-11.28

Savings Deposits
Personal
Nonpersonal

859,524
680,596
178,928

896,645
712,581
184,064

4.32
4.70
2.87

2.85
N.A.
N.A.

2.85
N.A.
N.A.

0
N.A.
N.A.

Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:
7 to 91 days
92 to 182 days
183 days to 1 year
1 to 2-V2 year
2-V2 years and over

32,428
91,195
199,397
213,012
199,126

32,482
92,530
201,278
214,033
198,596

0.17
1.46
0.94
0.48
-0.27

4.11
4.60
5.02
5.27
5.52

4.10
4.60
4.99
5.23
5.48

-1
0
-3
-4
-4

All IRA/Keogh Plan deposits3

151,276

151,363

0.06

N.A.

N.A.

N.A.

Liability Categories
NOW Accounts
2

Oct 31

Tm

Nov. 30
L98

Change
(b.p.)
7

BIF-insured Savings Banks4
Amount Outstanding ($mil.)

Average Rate Paid (%)

Liability Categories
NOW Accounts

Oct. 31
9,938

Nov. 30
9,710

Change
(percent)
^29

Oct. 31
L90

Nov. 30
L92

Change
(b.p.)
2

Savings Deposits2
Personal
Nonpersonal
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-V2 year
2-V2 years and over

67,975
64,326
3,649

68,102
64,135
3,967

0.19
-0.30
8.72

2.80
N.A.
N.A.

2.82
N.A.
N.A.

2
N.A.
N.A.

2,503
13,300
29,659
28,063
22,156

2,405
13,088
29,316
28,573
21,822

-3.91
-1.60
-1.16
1.82
-1.51

4.64
5.08
5.32
5.60
5.79

4.67
5.03
5.29
5.56
5.76

3
-5
-3
-4
-3

All IRA/Keogh Plan deposits3

20,983

20,627

-1.70

N.A.

N.A.

N.A.

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 425 commercial
banks and 75 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.




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Federal Reserve System
Washington, DC 20551-0001
OFFICIAL BUSINESS




First Class