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• • ql£ov f '

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES6

For r e l e a s e at 4:30 p.m. Eastern T i m e

Billions of dollars

Date

D E C E M B E R 7 1995

M1

1

M2

M3 3

L4

DEBT 5

Seasonally adjusted
1993-NOV.
DEC.

1994-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1995-JAN.
FEB.
MAR.
APR»
MAY
JUNE
JULY
AUG.
SEP.
OCT.

1122 . 4
1128. 6

3576. 7
3583 . 6

4 2 3 4 , .2
4 2 4 2 ,.3

5 1 2 8 . ,5
5 1 4 5 . .7

1 2 2 7 6 ,, 1
1 2 3 4 1 . .5

1132 . 5
1 1 3 7 .,0
1 1 4 1 ., 1
1 1 4 2 .,8
1143 . 5
1147 . 0
1152 . 2
1150. 8
1151. 0
1148 . 2
1147 . 6
1148 . 0

3589. 1
3586. 2
3597 . 5
3605. 4
3608 . 4
3605. 2
3616 . 8
3615. 0
3614. 1
3610. 2
3611. 9
3616. 9

4 2 4 5 , .7
4 2 3 1 , .8
4 2 4 0 ,. 4
4 2 5 0 . .5
4 2 5 1 . .2
4 2 5 6 . .2
4 2 7 4 . .3
4 2 7 3 .,9
4280 . 1
4 2 8 6 . .5
4 2 9 2 ..0
4 3 0 4 .. 1

53 5 7 . .4
5 1 6 0 . ,5
5 1 7 1 . ,7
5 1 8 0 . .5
5 1 9 5 <,8
5 1 9 2 . .0
5 2 1 7 ,. 2
5 2 2 6 . .7
5 2 2 4 . .7
5 2 3 7 . .6
5 2 4 8 . ,7
5 2 6 9 . .9

1 2 3 8 4 .. 3
1 2 4 3 4 . .7
1 2 4 9 9 . .9
1 2 5 5 7 . .5
1 2 6 1 3 . .3
1 2 6 5 2 . .5
1 2 6 7 9 , .5
1 2 7 4 4 , .9
1 2 8 0 4 ,. 1
1 2 8 5 2 .3
1 2 9 2 0 . .7
1 2 9 6 1 . ,0

1 1 4 9 . .0
1 1 4 7 ..3
1 1 4 7 .,9
1 1 4 9 . .7
1 1 4 3 .,0
1 1 4 3 .,9
1 1 4 4 . .9
1 1 4 3 ..4
1 1 3 9 . .7
1 1 2 9 ..8

3628. 9
3624. 7
3632. 4
3645. 6
3662. 3
3698. 6
3717 . 8
3743. 5
3757 . 3
3755. 1

4327
4336
4360
4383
4412
4459
4490
4519
4534
4546

5 2 9 5 . .2
5 3 3 5 . .2
5 3 7 8 . .3
5 4 0 5 . ,5
5 4 3 3 . .9
5 4 7 1 ., 6
5 5 2 4 .- 2
5 5 6 0 , .3
5 6 0 0 ,. 8 p

1 3 0 1 3 , ,9
1 3 0 9 2 ,6
1 3 1 5 2 , .0
13223 .4
1 3 3 1 7 , .2
1 3 3 7 5 , .9
1 3 4 1 5 , .0
1 3 4 5 6 , .9
1 3 4 9 2 , .0 p

,. 1
.8
.1
,. 0
.4
.5
.6
.4
.6
.9

Not seasonally adjusted
1993-NOV.

1129.5
1153.7

3584.2
3606.1

4246.5
4266.1

5147.9
5180.2

12249.0
12333.6

1994-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV,
DEC.

1142.3
1124.2
1131.4
1152 .7
1132 .5
1142 .3
1150.9
1144.0
1146.2
1147.4
1155.4
1173.7

3595.6
3573.3
3596.2
3622.6
3595.6
3600.4
3615.6
3607.5
3603.6
3607.2
3620.2
3640.5

4254.7
4221.6
4238.0
4264.0
4240.2
4249.8
4268.0
4267.4
4267.6
4281.6
4306.4
4330.2

5179.0
5153.3
5172.2
5192.4
5175.5
5180.4
5204.7
5215.3
5205.3
5228.6
5270.8
5307.5

12376.8
12408.0
12460.7
12499.3
12540.8
12597.3
12631.2
12692.7
12760.3
12813.5
12892.8
12953.1

1995-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.

1158.6
1134.3
1138.1
1158.7
1132.1
1139.3
1143.9
1137.0
1135.7
1129.4

3635.4
3610.9
3630.4
3662.0
3649.9
3694.1
3717.2
3736.6
3747.1
3752.2

4336.7
4325.5
4355.9
4394.7
4402.1
4453.2
4483.9
4513.1
4522.1
4542.2

5317.9
5327.0
5377.5
5415.6
5413.4
5460.0
5510.7
5549.3
5579.6 p

12988.7
13039.9
13104.2
13155.2
13224.8
13310.1
13360.1
13395.1
13445.9 p

DEC.

Footnotes appear on the following page
p

preliminary




\

Page 2
H.6 (508)
Table 2

MONEY STOCK AND DEBT MEASURES

Percent change at seasonally adjusted annual rates

M1

M2

M3

DEBT1

3 M o n t h s f r o m JULY 1995 t o OCT.

1995

-5.3

4.0

5.0

3.5

6 M o n t h s f r o m APR.

1995

-3.5

6.0

7.5

5.2

1 9 9 4 TO OCT< 1995

-1.6

4.0

6.1

5.4

T h i r t e e n w e e k s e n d i n g NOVEMBER 2 7 , 1995
f r o m t h i r t e e n weeks e n d i n g :
AUG. 2 8 , 1995 (13 w e e k s p r e v i o u s )

-4«1

4.3

5.0

12 M o n t h s

MAY

1.

f r o m OCT.

1995 TO OCT.

29,

1995

(26 weeks p r e v i o u s )

-2.5

6.2

7.3

NOV. 2 8 ,

1994

(52 w e e k s p r e v i o u s )

-1.4

4.1

6.0

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, June 1995 to September 1995, March 1995 to September 1995,
and September 1994 to September 1995, 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 (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 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-M1 component as a whole and then adding this result to seasonally adjusted M1.
. . .
, ..
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: 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.




H.6 (508)
Table 3

Page 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjusted

Period ending

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

1143.4
1143.2
1141.9
1141.2

4-week
average

1142.0
1142.3
1139.8
1140.6

week
average

25

1144.0
1143.9
1143.5
1143.1

13-week
average

3723 . 6
3728.3
3732.7
3736.8

3748.0
3751.9
3754.5
3757.0

3754.2
3754.2
3759.6
3760.1

4494.7
4500.6
4505.9
4511.3

4522.6
4527.3
4531.2
4533.2

4531.5
4530.8
4535.2
4535.3

2
9
16
23
30

1142.3
1141.1
1140.3
1139.3
1137.7

1138.7
1135.3
1133.0
1130.2
1129.4

1132.2
1128.4
1130.8
1129.2
1129.0

3740.9
3744.1
3747.6
3750.1
3752.5

3758.2
3757.8
3757.2
3755.8
3755.5

3758.7
3752.7
3757.2
3754.6
3757.4

4516.8
4522.2
4527.2
4531.2
4534.1

4536.0
4539.1
4542.7
4546.3
4547.9

4542
4543
4549
4549
4549

6

1136.5
1135 c 0
1133.6
1132.4

1129.6
1127.5
1127.1
1126.9

1129,
1122 ,
1127 ,

3754.2
3755.5
3756.8
3758.7

3756.8
3756.5
3759.2
3763.5

3757.8
3756.0
3765.7
3774.3

4536.4
4539.2
4541.7
4544.1

4549.1
4548.5
4549.3
4551.5

4547,
4547.
4553.
4558.2

1995-SEP.

4

11
18
OCT.

NOV.

13
2 Op
27p

1128.1

Not seasonally adjusted

OCT.

NOV.

4
11
18
25

1139.6
1140.2
1140.2
1139.9

1135.4
1138.5
1139.5
1138.4

1143.1
1156.3
1139.9
1114.2

3718.9
3723.7
3728.0
3731.7

3738.9
3746.2
3749.2
3748.9

3751.9
3770.7
3752.4
3720.4

4487.4
4493.2
4498.6
4503.7

4514.5
4522.7
4527.1
4524.5

4528.2
4548.8
4528.9
4492.2

2
9
16
23
30

1138.0
1136.2
1135.8
1135.4
1134.0

1133.0
1129.0
1129.2
1130.9
1129.0

1121,6
1140.3
1140.8
1120.8
1114.0

3734
3736
3740,
3743.
3745,

3745.8
3744.7
3748.8
3754.2
3752.9

3739.5
3766.3
3769.1
3742 . 0
3734.1

4507.9
4512.9
4518.3
4523.0
4526.1

4520.3
4521.4
4528.4
4539.8
4544.2

4511.1
4553.2
4557.0
4537.7
4528.9

6
13
2 Op
27p

1133.2
1132.6
1132.5
1133.2

1129.6

1128.1

1142.8
1134.8
1135.2
1127.9

3747.8
3750.1
3752.9
3756.5

3754.2
3754.7
3763.4
3771.9

3771.6
3771.0
3776.9
3768.0

4529
4533,
4538,
4542.8

45/7.2
4550.8
4558.5
4567.7

4565.1
4571.3
4568.6
4565.9

1131.7
1135.2

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.




Page 4
H.6 (508)
Table 4

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

Other checkable deposits
Currency1

Date

At thrift
institutions5

Total

In M26

In M3 only 7

386 .3

301.0

111.5

412.5

2458.2

651.0

JULY
AUG.
SEP.

342,8
345.1
347*2

388.1
386.6
386.5

301
301
300

111.4
109.7
108.9

413.1
410.8
408.9

2464.6
2464.1
2463.1

657.5
658.9
665.9

OCT.
NOV.
DEC.

350,
353 ,
354,

384.5
382.5
382.2

298,
297 ,
297

107.5
106.1
105.3

405.4
403.8
402 . 9

2462.0
2464.3
2468.9

676.2
680.1
687.1

357.7
358.8
362.5

8.4
8.4
8.8

383.6
384.1
383.3

295.1
291.8
289.3

104.2
104.1
104.0

399.3
395.9
393.3

2479.9
2477.4
2484.5

698.2
712.2
727.7

APR.
MAY
JUNE

365,
368,
367 ,

9.2
9.2
9.0

381,
380
386.8

289,
281,
276,

103
103
104

393 ,
385
380

2495.9
2519.3
2554.7

737.3
750.1
761.0

JULY
AUG.
SEP.

367 <
368,
369

275
272 ,

379,
376
372

2572.8

266 o 8

103 ,
104.
105.2

2600.2

8.8

389.5
390.0
389.7

2617.6

772.9
775.8
777.3

OCT.

370.5

8.7

387.2

258 .9

104.5

363.4

2625.3

791.7

370 . 1
369.7
370.3
370,7
371.4

8.7
8.7
8.7
8.8
8.8

387.9
387.8
387.1
387.0
385.8

259.4
257 . 6
260.1
259 4
258.5

106,
104,
104,
103 ,
104

365.6
362.2
364.7
362.8
363.1

2626.5
2624.3
2626.3
2625.4
2628.4

783.9
790.2
792.5
795.3
791.7

370,
370,
371,
371,

8.8
8.8
8.8
8.8

387 .6
384.9
388.4
387.8

257 ,
254
255
255

105.2
104.0
104.0
104.6

362.4
358.4
359.2
359.9

2628.5
2633.5
2638.3
2646.2

789,
791.
787,
784,

NOV.

7.

At commercial
banks4

340.0

Weefc e n d i n g
1995-OCT.
2
9
16
23
30

4.
5.
6.

8.2

Demand deposits3

1994-JUNE

1995-JAN.
FEB.
MAR.

1.
2.
3.

Travelers checks2

6
13
2 Op
27p

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 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.
.
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 estimated


p

preliminary

Page 5

H.6 (508)
Table 4 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Savings deposits 1
Date

370.7

177 . 9

274.0

commercial
banks

Total

1994-JUNE

780 . 0

426.8

1206.8

467.4

At
. thrift
institutions
305.5

JULY
AUG.
SEP.

778.0
775.7
772.8

423.2
417.0
410.9

1201.2
1192.6
1183.7

470.0
476.1
481.2

306.6
306.8
308.3

776. 5
782. 8
789. 6

376.1
377.0
377.4

178 .7
177 .4
176 .3

276.4
280.1
285.1

62.0
61.9
63.1

338.4
342.0
348.2

OCT.
NOV.
DEC.

765.4
759.2
752.3

405.6
398.5
391.9

1171.4
1157.8
1144.2

487.8
494.1
502 . 6

311.9
316.7
318.3

799. 7
810. 8
820. 9

379.5
383.3
389.0

1 8 0 , ,8
1 8 0 , ,5
1 8 0 , ,8

289.4
292 . 9
296.6

64.2
64.5
64.9

353.6
357.4
361.4

1995-JAN.
FEB.
MAR.

744.1
734.2
723.3

385.6
377.6
371.6

1129.8
1111.9
1094.9

512.7
524.2
537.8

323.9
332.3
341.7

836.5
856.5
879.5

392.1
391.5
390.9

186.3
180.4
189.0

295.2
303 . 1
308.5

66.7
68.1
70.1

361.9
371.2
378.6

APR.
MAY
JUNE

716.0
717.2
728.1

366.4
364.2
363 . 0

1082.4
1081.4
1091.1

548.1
556.2
562 . 4

350.4
356.5
357.3

898.5
912.7
919.7

396.0
405.4
426.2

192.9
194.8
205.6

309.0
315.1
318.5

71.2
70.4
70.8

380.2
385.5
389.3

JULY
AUG.
SEP.

730.7
739.5
746,7

360.7
358.6
358.5

1091.4
1098.1
1105.2

567.1
569.8
570.6

357.4
358.0
358.7

924.5
927.7
929.3

442.0
455.9
462.6

212.4
210.8
213.5

323.7
325.2
327.4

72.6
73.2
73.7

396.3
398.4
401.1

OCT.

753.7

358.5

1112.2

571.3

359.5

930.8

466.4

215.8

338.7

74.8

413.5

2
9
16
23
30

751.9
757.7
754.4
753.3
753.5

359.2
358.6
358.5
358.7
358.2

1111.2
1116.2
1112.9
1111.9
1111.7

570.8
570.7
571.1
571.5
571.8

358.6
358.6
359.2
359.8
360.4

929.4
929.3
930.2
931.3
932.3

464.0
464.8
466.2
467.2
467.6

213.9
216.5
216.2
218.1
213.3

333 . 6
337.1
338.8
340.3
339.9

74
74,
75,
75,
75,

408.1
411.5
413.8
415.3
415.0

6
13
2 Op
27p

758,
762,
762,
760 <

357,
356,
356,
356,

1115.3
1118.8
1118.3
1116.4

572.2
573.3
573.5
574.0

360.5
360.3
360.7
360.6

932
933
934,
934

469.2
470.9
470.4
473.2

214.8
213.3
213.9
215.5

342.8
344.0
344.8
342.9

75.
75,
75.
74.8

418.0
419.1
419.8
417.8

Total

At . ,
commercial
banks 4

Total
335.0

Savings deposits include money market deposit accounts.

2.

p

772. 9

At
. thrift
institutions
II IOU IU 11 wl IO
61.0

Large-denomination time deposits 3

At
commercial
banks

NOV.

3.
4.

Institutionuiiiy miJMtiV
market 1funds

At
. thrift
institutions

1995-OCT.

1.

General
purpose and
broker/
dealer
money
market funds

Small-denomination time deposits 2

RPS-a,e , h

S

E

E

!

"

S

preliminary




^

°"

l s s u e d in a m

° u " , s <* l e s s

,han

A

"

IHA

Keogh account balances at commercial bank,
and foreign b a n , and

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

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

Savings bonds

Short-term Treasury
securities1

Bankers acceptances2

Commercial paper3

Federal debt

Non-Federal debt

1994-JUNE

176.7

357.1

14.9

387 . 0

3416.3

9236.2

JULY
AUG.
SEP.

177.7
178.5
179.1

360.8
365.0
360.5

13.2
13 . 8
14.8

391.1
395.4
390.2

3419.3
3436.6
3453.8

9260.2
9308.3
9350.2

OCT.
NOV.
DEC.

179
179

180

358.5
361.9
370.2

13
13
14

399 . 9
401.4
401.3

3469.3
3493.9
3497.4

9383.0
9426.8
9463.7

180.5
180.4
180.5

371.4
389 . 9
401.9

13.4
13.4
14.1

402.8
414.7
421.7

3504.7
3535.8
3557.5

9509.2
9556.8
9594.5

APR.
MAY
JUNE

180,
181 <
182.

396.9
383.9
390.9

13.9
12.3
11.3

430.8
443.8
427.5

3559
3577
3602

9663.9
9740.2
9774.0

JULY
AUG.
SEP. p

183
183
184

410.7
410.1
431,4

11.8

428.0
435.0
437.8

3614
3620
3622

9800.6
9836.9
9869.9

1995-JAN.
FEB.
MAR.

1c

Debtcomponents4

Non-M3 Components of L

Date

12.2
12.9

2.
3.
4.

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
Currency1

Date

Travelers
checks2

Demand
deposits3

Other checkable deposits

Nontransactions components

At commercial
banks4

At thrift
institutions5

Total

In M26

In M3 only7

Overnight

Overnight
Eurodollars®

1994-JUNE

340.5

8.3

382 .3

299 . 5

1 1 1 «7

411.2

2458 . 1

649 . 5

80 . 7

26.2

JULY
AUG.
SEP.

344.7
345.7
347.0

8.8
8.9
8.8

387.3
383.1
384.7

298 . 4
297 .2
297 . 4

111 .6
109 . 0
108 .3

410 = 0
406.2
405.6

2464 .7
2463 . 5
2457 . 4

652 . 4
659 . 9
664 . 1

80 . 5
82 . 2
84 . 0

29.1
28 . 9
28.1

OCT.
NOV.
DEC c

349.6
353.2
357.6

8.5
8.2
8.1

387.9
390ld
400.3

294 . 1
296 . 0
300 . 6

107 . 4
107 . 1
107 . 0

401.4
403.1
407.6

2459 . 9
2464 . 8
2466 .8

674 . 4
686 . 2
689 . 7

83 . 8
83 . 4
84.7

30.3
30.1
32.5

1995-JAN.
FEB.
MAR.

355.9
357.1
361.4

8.1
8.1
8.4

388.9
375.0
374.1

3 0 1 .3
292 .3
291 . 1

104 . 4
101 .8
103 . 0

405.7
394.1
394.2

2476 .8
2476 .6
2492 .3

7 0 1 .3
714 . 6
725 . 5

87 . 6
86 . 8
87 . 6

36.3
31.6
30.7

APR.
MAY
JUNE

365.5
367 . 9
368.2

8.8
8.9
9.2

382.0
372.8
382.6

296 . 6
279 .7
274 .9

105 .7
102 ,.7
104 . 4

402.3
382 o4
379.3

2503 .4
2517 . 9
2554 ,8

732 .7
752 .2
759 . 1

85 . 8
86 . 8
88 .0

30 . 1
29.9
29.6

JULY
AUG.
SEP.

369.0
369.0
369.2

9.5
9.5
9.3

388.7
386.5
388.1

2 7 2 , ,8
2 6 8 , .7
2 6 4 . .6

1 0 4 , ,0
103 .,3
104, 6

376.8
372.0
369.1

2 5 7 3 , .3
2599, 6
2 6 1 1 ,: 4

7 6 6 , .7
7 7 6 . .5
7 7 5 . .0

85,.0
8 6 , .7
8 8 . .0

29.4
31.6
33.0

OCT.

369.9

8.9

390.7

2 5 5 , ,5

104, 4

359.8

2622. 8

7 9 0 . ,0

8 6 . ,9

32.5

367 . 9
372.2
370.4
369.3
368.3

9.1
9.0
9.0
8.9
8.8

388.2
394.1
397.4
386.2
383.7

252 . 9
257. 6
258. 3
254.2
251. 7

103. 5
107.4
105. 7
102. 2
101. 5

356.4
365.0
364.0
356.5
353 . 2

2617.
2626.
2628.
2621.
2620,

9
0
3
2
2

771. 6
786. 9
788. 0
795.7
794. 7

90.2
84. 3
88.3
86. 4
87. 5

35.8
31.8
32.2
32.8
32.7

371.4
371.8
371.3
372.4

8.8
8.7 e
8.6 e
8.5 e

395.9
394.3
397.6
393.8

258.
254.
253.
250.

108. 0
105. 7
104.4
103. 2

366.8
359.9
357.7
353.2

2628.
2636.
2641.
2640.

8
2
7
1

793.
800.
791.
797.

86.9
84. 4
88.5
35. 2

29.4
29.3
31.3
31.5

Week e & d i A g
1995-OCT.
2
9
16
23
30
NOV.

6
13
2 Op
27p

1.
2.
3.

7
3
3
1

5
3
7
9

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.
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 NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
6o 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
QBpOSIIS.
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
y
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
r
r
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).


Page 8

H.6 (508)
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Savings deposits 1
Date

At
commercial
banks
782.3

At
thrift
institutions
428.1

JULY
AUG.
SEP.

780.0
777 ,
772 .

OCT.
NOV.
DEC.

1210.4

— a —
commercial
banks
467.0

At
thrift
institutions
305.2

772.2

424.3
417.7
410.8

1204.3
1194.6
1183.6

470.5
476.6
481.8

306.9
307.1
308.7

777.5
783.7
790.5

765,
761,
751,

405.7
399.7
391.2

1171.1
1161.0
1142.3

488.4
493.8
502.2

312.3
316.5
318.1

739.5
729.8
723.4

383.2
375.3
371.6

1122.7
1105.1
1095.0

513.1
524.4
537.6

APR.
MAY
JUNE

717 o 8
717.8
730.2

367,
364,
364,

1085.2
1082.3
1094.3

JULY
AUG.
SEP.

732.6
740,8
746.8

361,
359 <
358,

OCT.

753,9

1994-JUNE

1995-JAN.
FEB.
MAR.

Week e n d i n g
1995-OCT.
2
9
16
23
30
NOV.

1.
2.
3.
4-

P

Small-denomination time deposits 2

6
13
2 Op
27p

Total

Total

General
purpose and
broker/
dealer
money
market funds
368.7

Institutiononly money
market funds

Large-denomination time deposits 3
At
thrift
institutions
61.3

172.5

commercial
banks 4
275.3

373
374,
371,

173.8
176.2
172.6

275.4
281.4
286.2

61.8
62.2
63.3

337.1
343.6
349.6

800.7
810.4
820.2

373.9
379.9
387.1

178.1
182.5
183.1

290.0
294.4
296.3

64.3
64.8
64.8

354.3
359.1
361.1

324.2
332.4
341.6

837.3
856.8
879.2

392.8
396.3
399.8

192.4
188.8
190.8

293.8
301.6
306.4

66.4
67.8
69.7

360.2
369.4
376.1

547
555
562,

350.0
355.8
357.0

897.5
910.9
919.0

404.8
407.9
423.9

191.3
193.8
199.2

306.8
317.6
320.0

70.7
70.9
71.1

377.6
388.5
391.1

1094.2
1100.1
1105.4

567.8
570.3
571.1

357,
358,
359.0

925.7
928.6
930.1

438
452,
454,

206,
209,
209,

322,
326,
328,

72.3
73.6
74.0

394.6
400.2
402.6

358.6

1112.5

571.9

359.9

931.8

459.1

212.9

339.5

75.0

414.6

749.2
760.3
756.8
752.2
750.8

357.9
359.8
359.7
358.1
357.0

1107.1
1120.1
1116.5
1110.3
1107.8

571.6
572.3
572.0
571.8
571.6

359,
359,
359,
360,
360,

930.8
931.9
931.8
931.8
931.9

454.1
458.0
459.5
459.8
460.3

206.6
211.6
211.9
215.7
213.8

333.0
338.4
339.3
341.0
341.1

74.3
74.7
75.1
75.1
75.3

407.3
413.1
414.4
416.2
416.4

760.3
766.0
764.1
761.2

358
358
357
356.4

1118,
1124,
1121,
1117,

572.1
573.1
573.0
573.4

360.4
360.2
360.4
360.3

932.5
933.3
933 . 4
933.6

461.2
465.1
467.0
472.2

215.2
216.5
216.6
219.7

344.4
346.2
346.2
345.2

75 <
75,
75,
75,

420.0
421.7
421.5
420.5

Savings deposits include m o n e y market deposit accounts.
S m a l l - d e n o m i n a t i o n t i m e d e p o s i t s — i n c l u d i n g retail R P s — a r e t h o s e i s s u e d in a m o u n t s of less t h a n $ 1 0 0 , 0 0 0 . All IRA a n d K e o g h a c c o u n t b a l a n c e s at c o m m e r cial b a n k s a n d thrifts are s u b t r a c t e d f r o m s m a l l t i m e d e p o s i t s .
L a r g e - d e n o m i n a t i o n t i m e d e p o s i t s are t h o s e i s s u e d in a m o u n t s of $ 1 0 0 , 0 0 0 or m o r e , e x c l u d i n g t h o s e b o o k e d at i n t e r n a t i o n a l b a n k i n g facilities.
L a r g e - d e n o m i n a t i o n t i m e d e p o s i t s at c o m m e r c i a l b a n k s less t h o s e h e l d b y m o n e y m a r k e t m u t u a l f u n d s , d e p o s i t o r y institutions, U.S. g o v e r n m e n t , a n d f o r e i g n
b a n k s a n d o f f i c i a l institutions.
preliminary




Total
336.6

Page 9

H.6 (508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Term RPs1
Date

Debtcomponents6

Non-M3 Components of L
Term
Eurodollars2

Short-term
Treasury
securities3

At commercial
banks

At thrift
institutions

1994-JUNE

71.8

30.3

102 .1

50.3

176.9

354.0

14.5

385.2

3394.5

9202.8

JULY
AUG.
SEP.

70.8
68.3

32.0
32 . 8
33 . 4

102.8
101.0
101.7

51.0
51.2
52.1

177
177,
178,

358
366
353,

13.1
13.5
14.4

387.8
389.6
391.5

3393.9
3418.3
3438.3

9237.3
9274.4
9322.0

OCT.
NOV,
DEC.

67.1
67.5
67.8

34.8
35.6
37.7

101.3
103.1
105.6

52.7
54.5
52.4

179,
179.
180.

350.6
365.8
379.2

13.3
13.6
14.4

404.2
405.3
403.6

3448.5
3485.2
3499.0

9364.9
9407.6
9454.1

1995-JAN.
FEB.
MAR.

70.2
73.2
72.6

39.2
40.1
40.8

109.4
113.4
113.4

53 . 1
56.3
58.3

180.6
180.8
181.2

376.0
391.4
406.1

14.2
13.9
13.9

410.5
415.3
420.4

3499.0
3525.0
3551.1

9489.7
9514.9
9553.1

APR.
MAY
JUNE

74.7
78.5
76.9

41.8
43.2
42.9

116.5
121.7
119.9

59.9

61.0

181.
182.
182,

394.8
382.4
387.8

13.7

430.8
434.7
425.5

3544.1
3552.6
3579.3

9611.1
9672.2
9730.8

JULY
AUG.
SEP.

72.6
74.1
71.8

43.0
44.2
44.6

115.5
118.3
116.4

61.8
60.2

182.8
183.0
183 3 p

408.1
412.6
422.3 p

424.4
428.7
439.2 p

3588.8
3602.2
3606.8 p

9771.3
9792.9
9839.1 p

OCT.

72.5

43.9

116.4

59.2

68.1

23
30

44,
43.
43 .
43 .
44.

112.4

72.6
71.8
73.9
73.5

58.4
59.1
59.2
59.3
59.4

6
13
2 Op
27p

68.4
72.6
64.9
67.7

45.0
44.2
43.5
43.4

68.2

Week efrfljiiq
1995-OCT.

2
9

16

NOV.

Total

116.2
115.4
117.4

118.1
113.4

116.8
108.3

111.1

62.2
63.0

Savings bonds

Bankers
acceptances4

12.1
11.0
11.6
11.9

12.6

Commercial
paper6

Federal debt

N on-Federal
debt

58.0
58 o 1
58.1
59.8

4.
5.
6.

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.
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.
3.




H.6 (508)
Table 6

Page 10

MEMORANDUM ITEMS
Billions of dollars, not seasonally adjusted
Demand deposits
at banks due to

U.S. government deposits
At
commercial
banks

29 . 6

2 .9

142 . 3

i l l .5

56 . 8

310.6

11 .3
10 . 1
16 . 9

2 1 .5
19 . 0
28 . 8

2 .7
2 .9
2 .5

142 . 6
142 . 6
142 .7

110 . 7
109 . 7
108 . 7

55 . 9
56 . 1
56 . 8

309.2
308.4
308.1

5.6
5.2
6.2

12 . 1
9 .8
13 . 4

22 . 0
18 . 9
25 .3

2 .2
1 .9
1o3

142 .7
142, ,9
143, .3

108 . 1
107 .9
107 .6

58 .3
59 . 4
59 .7

309.1
310.2
310.5

4,,9
3 ,3
3. 4

7.0
5.9
5.2

20,.0
21,. 1
10,. 1

3 1 .9
30,.3
18,.8

1,2
2 .3
2,,4

1 4 3 . ,7
144. 6
145. 6

107, .5
1 0 7 , .7
1 0 7 , ,7

59,.7
59,• 9
60., 1

310.9
312.2
313.3

12,,3
12,,3
12.,3

5 <5
3., 1
4,,5

6.2
5.7
7.9

12,.4
18..7
19,,6

24,. 1
27,.5
32..0

2,,6
2,,6
2 ,6

146. 4
146. 8
147. 8

1 0 7 , .6
1 0 7 , ,4
1 0 7 , .2

60.,3
60,,5 e
60, 6 e

314.2
314.6 e
315.7 e

l , ,5
l . ,5
l. 7

12..3
12,,3
12,,3

3. 4
2. 8
6c 0

6.6
5.3
6.8

2 7 , ,7
13, 6
17. 8

37. 6
2 1 , ,7
30, 6

2..8
2, 9
2, 8

148. 9
149. 1
149. 4

107. 2 e
107. 0 e
107. 5 e

60. 7 e
60. 7 e
60, 7 e

316.8 e
316.8 e
317.6 e

8, 2

l. 6

1 2 . ,3

3. 1

5.3

11. 4

19. 8

2. 8

150. 0

108. 0 e

60. 7 e

318.7 e

2
9
16
23
30

7.
8.
8.
8.
7.

4
3
1
9
9

l.
l.
l.
l.
l.

7
8
5
4
5

12.
12.
12.
12.
12.

3
3
3
3
3

3.
2.
3.
2.
2.

8
8
9
7
7

7.5
5.6
4.7
5.3
5.1

28.
12.
10.
11.
7.

6
2
0
1
8

39.
20.
18.
19.
15.

9
6
7
0
7

2 o8
2. 8
2. 8
2. 8
2. 7

6
13
2 Op
27p

8.
7.
7.
8.

2
5
8
3

l.
l.
l.
2.

4
8
4
1

12.
12.
12.
12.

3
3
3
3

3.
2.
3.
2.

3
5
2
9

5.2
5.9
5.0
5.5

7.
3.
9.
10.

1
2
9
7

15.
11.
18.
19.

6
6
1

2o 8
1. 4
1. 3
1. 2

Balance
at
Federal
Reserve

13 . 1

5 .3

5.9

18 , 4

l .5
l .5
l .5

13 . 4
14 . 0
14 . 6

4.8
3 .9
5 .8

5.4
5.1
6.0

8 .0
8 .4
8 .7

l .6
l .8
l .6

14 . 8
14 . 6
14 . 4

4 .3
3 .9
5.7

1995-JAN.
FEB.
MAR.

8 .4
8 .0
8 .1

l .6
l .6
l , .6

14 e0
13 .3
12 .7

APR.
MAY
JUNE

7,.7
8,. 1
8,, 1

l . .6
1..5
l , .6

JULY
AUG.
SEP.

8,.4
7<,5
7,,5

OCT.

Foreign
commercial
banks

Foreign
official
institutions

1994-JUNE

8 .2

l .5

JULY
AUG.
SEP.

8 .3
7 .7
8.1

OCT.
NOV.
DEC.

Week

1995-OCT.

NOV.

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

estimated
preliminary




Note
balances at
depository
institutions

Total
cash
balance

1

At
thrift
institutions

At
money
market
funds

Total