Full text of H.6 Money Stock Measures : February 20, 1992
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asss^,-FEDERAL RESERVE statistical release These data are scheduled for release each Thursday at 4:30 p.m. **?f?pPV H.6 (508) Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES FEBRUARY 20, 1992 Billions of dollars Date M1 J M2 Z DEBT5 M3 3 Seasonally adjusted 1990-FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 800.7 803.7 807.3 806.2 809.7 810.1 816.2 822.9 822.3 823.8 826.1 3258 3270 3279 3282 3290 3297.6 3313.0 3327 3329 3327 3332.4 4073..5 4074..2 4079..5 4079..5 4083..2 4090..9 4106..0 4115.4 4117.0 4115.6 4114.4 4901. 1 4909, 7 4921. 3 4905. 1 4925. 6 4928. 7 4939. 3 4964. 3 4962. 7 4960. 4 4966. 7 10225. 10299. 10360. 10411. 10478. 10541. 10606. 10658. 10696. 10750. 10791. 1991-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 826.2 836.2 842.2 842.7 850.8 857.2 860.0 866.5 872.0 880.9 891.4 898.1 3336 3361 3378 3385 3396 3402.8 3400.6 3403 .7 3408 .2 3420 .3 3434 .4 3442 .2 4125..1 4159..6 4165..3 4168..0 4170..0 4167..5 4157..2 4157..5 4154..6 4161.8 4170.8 4175.1 4980. 1 5008. 0 5004. 7 4979. 0 4958. 7 4987. 1 4993. 1 4990. 2 4982. 6 4990. 7 5001. 0 4991. 9 P 10821.1 10871.6 10905.6 10924.5 10974.5 11022.9 11060.1 11106.8 11154.5 11206.5 11257.5 11292.4 1992-JAN. p 910.6 3452.1 4180.5 1990-FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 788.0 795.9 817.6 796.9 810.4 812.5 814.2 818.7 817.6 826.1 844.1 3247 .9 3270 .2 3294 .4 3265 .0 3286 .5 3301 .0 3312.8 3320.1 3325.7 3331.0 3345.2 4063.6 4077.9 4091.7 4065.2 4080.8 4092.3 4109 4108 4109 4118 4124 4896.1 4914.5 4931.5 4889.8 4914.4 4920..1 4934..3 4956..1 4954..0 4968..1 4986..5 10196.1 10261.0 10318.8 10365.2 10430.0 10492.5 10554.8 10610.9 10659.8 10722.6 10778.2 1991-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 832.7 823.3 835.0 853.0 841.6 858.0 862.3 864.5 867.4 875.4 893.9 917.3 3343. 3350. 3380. 3401. 3379. 3399. 3403.8 3403.3 3400.5 3415.7 3437.6 3456.1 4128. 4150. 4171. 4182, 4156. 4165. 4158. 4160. 4146. 4152. 4173 4185.8 4998.0 5002.8 5011.9 4991.4 4943 7 4975 1 4984 6 4984 7 4973 6 4980 7 5008 9 5013 1 P 10809. 10842. 10868. 10884. 10928. 10973. 11009.9 11056.7 11109.8 11172. 11232. 11280.8 p 1992-JAN. p 918.3 3460.1 4185.6 Not seasonally adjusted 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 3 3 Months from OCT. 1991 TO JAN. 1992 13.5 3.7 1.8 4.9 6 Months from JULY 1991 to JAN. 1992 11.8 3.0 1.1 4.9 12 Months from JAN. 1991 TO JAN. 1992 10.2 3.5 1.3 4.6 NOV. 11, 1991 (13 weeks previous) 12.9 4.0 1.9 AUG. 12, 1991 (26 weeks previous) 10.7 2.8 0.8 FEB. 11, 1991 (52 weeks previous) 9.4 3.4 1.4 Thirteen weeks ending FEBRUARY 10, 1992 from thirteen weeks ending: 1. Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, September 1991 to December 1991, June 1991 to December 1991, and December 1990 to December 1991, 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 (NOH) and automatic transfer service (ATS) accounts at depository institutions, credit union snare 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 ) T ab le 3 MONEY STOCK MEASURES B i l l i o n s of d o l l a r s Seasonally adjus ted Ml Period ending 13-week average 4-week average 1991-NOV. 18 25 878.1 880.0 887.7 890.2 M3 M2 13-week average 4-week average 891.6 893.9 3416.7 3419.0 3428.1 3432.4 week average 13-week average 4-week average 3435.6 3438.4 4160.4 4161.4 4166.3 4169.3 4171.5 4174.9 week average week average DEC. 2 9 16 23 30 881.9 883.9 885.9 888.0 890.0 892.4 894.3 895.8 897.0 898.2 895.0 896.6 897.6 898.9 899.5 3421.7 3424.2 3427.0 3429.8 3432.5 3436.2 3439.1 3442.1 3443.5 3443.4 3440.2 3442.2 3447.4 3444.1 3439.7 4162.7 4164.1 4165.9 4168.0 4169.2 4172.1 4173.9 4177.2 4177.7 4175.5 4174.3 4175.0 4184.4 4176.9 4165.8 1992-JAN. 6 13 20 27 891.9 894.1 896.3 898.7 899.7 902.0 904.8 908.8 902.9 906.6 910.3 915.3 3434.6 3436.7 3438.9 3441.7 3443.4 3443.2 3445.3 3449.7 3442.2 3446.9 3452.5 3457.1 4169.4 4170.3 4171.8 4174.1 4171.3 4169.3 4170.6 4177.3 4158.2 4176.1 4182.3 4192.6 3p lOp 901.4 904.3 913.4 918.4 921.2 926.6 3444.9 3448.4 3455.8 3463.1 3466.7 3476.2 4176.7 4179.3 4186.9 4193.5 4196.7 4202.2 FEB. Not seasonally adjusted Ml Period ending 13-week average 4-week average 1991-NOV. 18 25 874.2 876.5 885.5 890.3 M2 13-week average 4-week average 896.3 882.7 3415.4 3417.6 3427.2 3434.8 week average M3 week average 13-week average 4-week average 3444.5 3428.9 4155.1 4156.2 4163.1 4170.3 4177.0 4166.7 week average DEC. 2 9 16 23 30 879.9 882.3 885.3 890.1 895.1 894.6 899.7 904.3 913.0 917.0 904.3 915.4 914.9 917.2 920.6 3420.7 3423.4 3426.9 3431.6 3436.4 3438.8 3444.8 3449.7 3455.2 3456.6 3442.4 3463.2 3464.4 3450.9 3447.7 4158.3 4160.1 4162.7 4166.8 4170.4 4174.7 4179.0 4184.2 4187.4 4185.4 4178.5 4193.8 4197.9 4179.5 4170.3 1992-JAN. 6 13 20 27 899.7 903.4 906.4 909.1 924.0 927.2 926.6 921.2 943.3 927.6 914.9 899.0 3440.5 3444.0 3447.2 3450.5 3459.7 3461.5 3463.8 3462.2 3475.9 3471.4 3460.2 3441.1 4172.0 4174.6 4177.5 4180.4 4181.8 4182.2 4184.6 4185.9 4179.3 4199.8 4188.9 4175.5 3p lOp 910.8 912.7 912.6 910.8 908.7 920.7 3452.6 3455.1 3456.7 3456.8 3454.1 3471.7 4182.3 4184.3 4187.7 4188.4 4186.6 4202.5 FEB. Note: S p e c i a l c a u t i o n should be taken i n i n t e r p r e t i n g week-to-week changes in money supply d a t a , 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 Nontransact ions components Other checkable deposits Currency 1 Date Travelers checks 2 Demand deposits3 At 1 commercia banks 4 At thrift institutions5 Total In M2 6 In M3 only 7 1990-SEP. 241.9 8.3 280.1 205.6 87.0 292.5 2504.4 788.1 OCT. NOV. DEC. 244.2 245.4 246.8 8.4 8.3 8.3 278.1 277.4 277.1 205.9 207.0 208.7 85.7 85.7 85.2 291.6 292.6 293.9 2507.4 2504.1 2506.3 787.3 787.7 782.1 1991-JAN. FEB. MAR. 251.5 254.6 256.0 8.3 8.2 8.1 271.8 275.9 276.9 209.5 211.6 214.6 85.2 85.8 86.6 294.6 297.5 301.2 2510.3 2525.2 2536.3 788.6 798.2 786.7 APR. MAY JUNE 256.3 256.6 257.6 7.8 8.0 7.9 276.1 278.4 280.1 215.4 220.2 223.5 87.0 87.5 88.1 302.5 307.7 311.6 2542.9 2545.6 2545.6 782.3 773.7 764.7 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 88.2 313.6 317.3 320.6 2540.6 2537.2 2536.3 756.6 753.8 746.3 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 2539.4 2543.0 2544.1 741.5 736.4 732.8 269.4 8.3 293.9 245.8 93.2 339.0 2541.6 728.3 1991-DEC. 16 23 30 267.2 267.2 267.9 8.2 8.2 8.3 289.3 289.9 289.4 242.3 242.0 240.3 90.7 91.6 93.6 333.0 333.6 333.9 2549.8 2545.2 2540.2 737.0 732.8 726.1 1992-JAN. 6 13 20 27 268.4 268.9 269.4 270.0 8.3 8.3 8.3 8.3 290.3 292.0 294.0 296.0 243.6 245.7 246.6 246.7 92.3 91.8 92.1 94.4 335.9 337.5 338.7 341.0 2539.3 2540.4 2542.2 2541.8 716.0 729.2 729.8 735.5 3p lOp 270.4 271.4 8.3 8.3 e 298.7 300.8 248.4 251.2 95.5 95.0 343.9 346.2 2545.5 2549.5 730.0 726.0 1992-JAN. P Week ending FEB. 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 NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including money market deposit accounts) and small time deposits. This sum is seasonally adjusted as a whole. 7. Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overnight RPs and Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted as a whole. e--indicates estimated data, p—indicates preliminary data. H.6 (508) Table 4-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars> seasonally adjusted Small-denomination time deposits2 Savings deposits1 At _ At commercial thrift banks institutions Date Total At At commercial thrift banks institutions Large-denomination time deposits 3 Total General purpose and broker/dealer money market funds Institutiononly money market funds At At commercial thrift institutions banks 4 Total 1990-SEP. 572.3 346.3 918.6 582.4 580.9 1163.3 341.8 124.1 384.9 130.1 515.1 OCT. NOV. DEC. 575. 578. 581.9 343.7 341.9 338.8 919.0 920.0 920.7 590.4 591.8 599.8 571.9 569.7 562.3 1162.3 1161.5 1162.1 344.6 345.2 348.9 127.8 128.8 133.7 383.8 384.5 380.4 128.0 125.1 120.9 511.8 509.6 501.3 1991-JAN. FEB. MAR. 583.6 590.2 596.8 338.4 340.5 344.6 922.0 930.7 941.4 603.4 608.8 611.8 558.6 553.0 546.1 1162.1 1161.7 1157.9 356. 361. 365. 138.3 145.5 148.5 385.7 392.2 389.5 117.8 114.8 111.1 503.4 507.0 500.6 APR. MAY JUNE 602.5 609.3 617.0 350. 356. 359. 952.7 965.8 976.5 609.1 607.4 609.4 541.8 534.7 522.6 1151. 1142. 1132. 366.6 367.8 368.8 152.9 155.2 155.3 387.7 387.7 386.4 108.4 104.6 100.7 496.0 492.3 487.0 JULY AUG. SEP. 622.8 630.1 636.6 362.9 363. 365. 985.8 993.7 1002.2 611.3 615.0 614.7 511.8 499.3 491.3 1123. 1114. 1106. 367.9 363.5 361.9 155.4 158.6 162.6 380.2 378.4 373.0 97.6 93.8 90.6 477.9 472.2 463.7 OCT. NOV. DEC. 645, 655. 664. 369. 373. 377. 1015.0 1028.7 1042.5 614.1 606.4 598.5 481. 474. 466. 1095. 1080. 1065. 361.7 361.4 361.5 168.2 173.6 179.1 362.6 357.1 354.0 87.4 85.1 83.1 450.0 442.2 437.1 676.0 385.4 1061.4 587.6 457.3 1044.9 360.7 182.4 346.0 81.4 427.4 1991-DEC. 16 23 30 665. 666. 667. 377. 378. 379. 1042.2 1044.5 1047.6 600,.1 598,.6 595,.9 467. 465. 464. 1067. 1064. 1060. 363.3 360.7 359.8 181.5 181.2 176.5 353.9 352.5 350.0 83.5 82.5 82.2 437.3 435.0 432.2 1992-JAN. 6 13 20 27 669. 674. 677. 679. 381. 383. 385. 387. 1050.5 1057.4 1062.3 1067.3 593..2 590..3 587.,7 583. 8 463. 459. 456. 454. 1056. 1050. 1044. 1038. 356. 358. 360. 364. 165.2 182.3 185.4 188.3 348.5 345.7 345.8 345.8 82.3 81.8 81.2 81.0 430.8 427.6 427.0 426.8 3p lOp 682. 687. 390. 393. 1072.9 1080.1 580. 9 577.,9 451. 448. 1032. 1025. 365. 364. 191.8 189.5 343.5 340.8 80.4 79.6 423.9 420.4 1992-JAN. p Neek ending FEB. 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. 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, and foreign banks and official institutions, --indicates preliminary data. H.6 (508) Table ^-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Non-M3 Components of L Date Savings bonds Short-term Treasury securities1 Bankers acceptances2 Debt components* Commercial paper 3 Federal debt Non-Federal debt 1990-SEP. 123.7 333.8 32.6 358.8 2433.4 8225.2 OCT. NOV. DEC. 124.5 125.2 126.0 330.6 330.6 333.0 32.9 33.8 34.0 357.7 355.2 359.3 2441.5 2470.9 2493.6 8255.0 8279.8 8297.3 1991-JAN. FEB. MAR. 126.9 127.9 129.0 331.5 331.1 326.8 35.3 34.6 32.1 361.2 354.9 351.6 2509.1 2537.5 2551.5 8312.0 8334.1 8354.1 APR. MAY JUNE 130.1 131.3 132.4 310.9 302.5 327.7 30.6 29.1 28.1 339.4 325.8 331.4 2547.4 2572.5 2606.7 8377.2 8402.0 8416.2 JULY AUG. SEP. 133.5 134.4 135.2 336.0 336.0 330.4 28.1 27.2 25.8 338.3 335.1 336.6 2633.2 2665.9 2693.5 8426.9 8441.0 8460.9 OCT. NOV. DEC. p 136.1 137.1 137.9 333.1 339.6 333.5 25.3 24.5 23.7 334.4 329.1 321.7 2724.0 2749.5 2766.9 8482.5 8508.0 8525.5 1. 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 Date Currency 1 Travelers checks 2 Demand deposits3 At commercial banks* At thrift institutions5 Total In M 2 6 In M3 only 7 Overnight RPs 8 Overnight Eurodollars9 1990-SEP. 240.9 8.8 278.1 203.9 86.9 290.8 2501.4 788.8 64.6 16.6 OCT. NOV. DEC. 242.7 245.7 249.5 8.4 8.0 7.8 278.2 280.6 289.9 202.9 206.0 211.5 85.3 85.8 85.4 288.3 291.8 296.9 2508.0 2504.9 2501.1 783.5 787.4 779.3 66.0 60.5 55.0 17.7 17.4 19.7 1991-JAN. FEB. MAR. 249.8 252.6 255.6 7.8 7.8 7.8 277.4 268.0 270.1 213.6 211.5 215.8 84.2 83.4 85.8 297.7 294.9 301.6 2511.0 2526.9 2545.0 785.2 799.9 791.1 52.0 51.4 49.0 19.9 19.0 20.2 APR. MAY JUNE 256.0 257.4 259.1 7.5 7.8 8.1 277.7 271.7 279.8 222.6 217.2 222.0 89.2 87.6 89.0 311.8 304.8 311.0 2548.7 2538.0 2541.0 780.5 777.0 766.0 50.0 51.3 52.3 19.6 17.1 15.6 JULY AUG. SEP. 260.8 262.0 261.7 8.5 8.6 8.3 280.9 278.8 278.6 223.1 226.9 230.6 89.0 88.3 88.1 312.1 315.1 318.7 2541.5 2538.8 2533.1 754.7 757.7 746.4 51.1 52.8 51.8 13.8 14.5 14.6 OCT. NOV. DEC. 263.1 266.3 270.0 8.0 7.7 7.7 283.7 291.1 303.1 232.0 238.1 244.8 88.6 90.7 91.7 320.6 328.8 336.5 2540.3 2543.7 2538.8 737.0 735.3 729.7 53.2 53.8 53.1 16.3 19.5 22.5 267.9 7.9 300.0 250.7 91.8 342.5 2541.8 725.5 56.0 21.9 1991-DEC. 16 23 30 269.4 271.6 270.4 7.7 7.8 7.8 302.1 302.1 307.8 244.0 245.3 244.2 91.8 90.4 90.5 335.7 335.7 334.7 2549.5 2533.7 2527.1 733.5 728.6 722.6 55.4 52.8 50.8 22.6 22.5 23.9 1992-JAN. 6 13 20 27 269.7 268.5 268.0 266.5 7.8 7.8 7.9 7.9 315.3 303.9 296.6 290.3 255.5 254.3 251.3 245.4 94.9 93.1 91.1 89.0 350.4 347.3 342.4 334.4 2532.7 2543.9 2545.3 2542.1 703.4 728.3 728.8 734.4 54.3 54.5 56.6 56.8 25.1 21.9 21.2 20.2 3p lOp 267.1 270.4 7.9 7.9 e ' 295.0 295.7 247.3 253.1 91.4 93.6 338.7 346.7 2545.4 2551.1 732.5 730.8 58.7 59.0 21.1 19.7 1992-JAN. P Week ending FEB. 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 NOH 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 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 instii Ltutions 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 Savings deposits 1 At At thrift csommercia il institutions banks Date Small-denomination time deposits2 Total At~ At commercial thrift banks institutions Total Large-denomination time deposits 3 General purpose InstitutionAt At thrift and broker/dealer only money commercial 4 banks institutions money market funds market funds Total 1990-SEP. 571.6 34r 8 917.4 581.9 580.3 1162.2 340.7 120.2 386.6 130.7 517.3 OCT. NOV. DEC. 574.5 578.2 580.0 3 .3 342.0 337.7 917.8 920.2 917.7 591.2 592.2 599.7 572.7 570.1 562.2 1163.9 1162.3 1161.9 342.6 344.5 346.8 124.2 128.4 134.4 384.2 384.6 379.4 128.1 125.2 120.6 512.3 509.8 500.0 1991-JAN. FEB. MAR. 580.8 587.1 598.0 336.7 338.7 345.3 917.5 925.8 943.4 605.1 610.4 612.2 560.2 554.4 546.4 1165.3 1164.8 1158.6 356.2 365.9 373.8 142.5 152.1 153.1 383.1 391.0 390.1 117.0 114.4 111.2 500.1 505.4 501.3 APR. MAY JUNE 604.6 609.1 619.7 351.4 356.4 361.1 956.0 965.5 980.8 608.6 605.7 607.4 541.4 533.2 520.8 1150.0 1138.9 1128.1 373.0 365.1 364.2 153.9 155.6 152.3 386.4 389.0 387.7 108.0 104.9 101.0 494.4 493.8 488.7 JULY AUG. SEP. 625.8 631.6 635.6 364.7 364.6 365.1 990.5 996.2 1000.8 611.2 614.5 614.3 511.7 499.0 491.0 1122.8 1113.5 1105.2 363.3 361.8 360.7 151.5 156.2 157.4 379.9 380.3 374.6 97.6 94.2 91.0 477.4 474.5 465.6 OCT. NOV. DEC. 644.6 655.3 662.3 368.7 373.2 376.3 1013.3 1028.5 1038.6 615.2 606.9 598.7 482.5 474.5 466.7 1097.6 1081.4 1065.4 359.8 360.6 359.1 163.4 172.7 180.3 362.8 356.9 352.8 87.4 85.1 82.8 450.2 441.9 435.5 672.4 383.3 1055.6 589.4 458,7 1048.1 360.2 188.1 343.6 80.8 424.4 1991-DEC. 16 23 30 665.4 661.2 660.5 377.0 375.6 375.8 1042.4 1036.7 1036.4 599.8 598.2 596.3 467.2 465.0 464.6 1066.9 1063.2 1060.9 362.2 358.5 355.1 183.6 182.8 178.0 352.6 350.7 348.6 83.2 82.1 81.9 435.8 432.8 430.5 6 13 20 27 667.0 673.2 673.6 672.8 380.2 382.9 383.4 384.1 1047.2 1056.1 1057.0 1056.8 595.0 592.4 589.6 585.4 464.4 461.3 458.0 455.4 1059.4 1053.7 1047.5 1040.7 346.7 357.7 362.9 367.5 162.1 189.0 193.8 197.2 346.5 343.8 343.2 343.0 81.8 81.4 80.6 80.3 428.3 425.2 423.8 423.3 3p lOp 676.1 683.5 387.0 391.1 1063.1 1074.6 582.6 579.9 452.7 449.5 1035.3 1029.4 367.4 368.3 199.3 198.8 340.7 339.6 79.8 79.4 420.4 419.0 1992-JAN. P - Neek ending 1992-JAN. FEB. 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. Largeydenomination 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 ccommercial thrift banks institutions Date Debt components6 Non-M3 Components of L Total Term Eurodollars2 Savings bonds Short-term Treasury securities31 Bankers acceptances4 Commercial paper5 Federal debt Non-Federal debt 1990-SEP. 53.0 46.2 99.1 67.7 123.5 334.6 32.3 356.8 2411.8 8199.2 OCT. NOV. DEC. 51.3 53.1 48.1 44.3 42.5 41.5 95.6 95.6 89.6 67.8 67.5 68.7 124.2 125.0 125.8 334.8 339.9 345.4 32.8 34.6 35.7 353.0 350.3 355.1 2424.4 2461.5 2491.3 8235.4 8261.2 8286.9 1991-JAN. FEB. MAR. 48.4 48.5 48.1 40.3 38.2 35.4 88.7 86.7 83.5 69.2 69.8 68.2 126.8 127.9 129.1 340.7 332.6 327.8 36.1 34.3 31.5 365.5 358.0 352.6 2510.8 2540.7 2553.4 8298.5 8301.3 8315.2 APR. MAY JUNE 49.1 48.3 49.1 33.1 32.1 29.3 82.2 80.4 78.4 65.2 62.3 61.6 130.4 131.6 132.7 306.3 295.1 316.4 30.1 28.7 27.8 342.4 331.8 333.2 2544.5 2560.6 2586.4 8339.9 8367.5 8386.8 JULY AUG. SEP. 49.6 48.9 48.1 29.2 29.4 28.6 78.8 78.4 76.7 62.7 63.6 61.5 133.6 134.3 135.0 327.3 330.4 331.5 27.9 27.2 25.5 337.4 331.9 334.7 2609.3 2642.9 2673.1 8400.6 8413.9 8436.7 OCT. NOV. DEC. 48.9 48.0 47.1 26.6 25.6 23.8 75.5 73.7 70.9 63.0 62.3 58.5 135.9 136.8 137.7 p 337.3 349.0 346.6 p 25.1 25.2 25.0 p 329.8 325.0 318.0 p 2707.6 2740.7 2765.0 p 8465.1 8491.9 8515.9 p 48.0 22.9 70.8 57.3 1991-DEC. 16 23 30 47.0 46.8 47.9 25.2 23.0 21.7 72.1 69.8 69.6 58.0 58.8 60.0 1992-JAN. 6 13 20 27 47.4 48.8 48.0 47.7 22.1 23.1 23.0 23.3 69.4 71.9 71.0 71.0 57.8 57.4 55.8 57.8 3p lOp 47.9 48.5 22.6 24.1 70.5 72.5 58.3 59.2 1992-JAN. P Week endiirig FEB. 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. 6. 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 6 MEMORANDUM ITEMS 10 Billions of dollars> not seasonally adjusted Demand deposits at banks due to Foreign Foreign icommercial official banks institutions Date IRA and Keogh Accounts U.S. government deposits Time and savings deposits due to foreign banks and official institutions Demand deposits at commercial banks Balance at Federal Reserve Note balances at depository institutions Total cash balance Time and savings At At deposits thrift at commercial commercial institutions banks banks At money market funds Total 1990-SEP. 9.7 2.0 3.5 5.2 6.4 25.9 37.5 1.2 124.4 134.1 39.4 297.9 OCT. NOV. DEC. 9.3 9.2 9.0 1.6 1.5 1.5 4.0 3.9 4.1 3.5 3.8 5.0 5.5 5.6 5.2 17.5 15.4 18.1 26.4 24.8 28.2 1.4 1.4 1.4 126.8 128.6 130.3 133.9 133.8 133.4 40.5 41.8 43.3 301.2 304.2 307.0 1991-JAN. FEB. MAR. 9.3 8.2 8.0 1.6 1.6 1.6 4.5 5.1 5.7 4.9 4.2 5.1 7.8 11.5 6.8 24.5 35.1 23.3 37.2 50.8 35.1 1.3 1.3 1.3 132.1 133.6 135.3 133.5 134.0 134.5 43.5 43.5 44.0 309.1 311.1 313.8 APR. MAY JUNE 8.5 8.2 7.6 1.5 1.5 1.5 6.0 6.2 6.3 5.4 3.6 5.0 4.7 5.6 6.3 15.0 16.2 18.6 25.1 25.4 29.9 1.3 1.4 1.5 137.6 138.9 140.3 135.2 135.5 135.4 44.3 44.9 43.9 317.1 319.3 319.6 JULY AUG. SEP. 8.0 7.9 7.8 1.5 1.5 1.5 6.3 6.5 6.6 3.7 3.6 5.2 6.6 5.8 7.8 17.1 13.5 21.7 27.3 22.9 34.7 1.6 1.5 1.5 141.8 143.1 144.4 134.6 133.2 131.6 42.2 41.7 e 41.3 e 318.5 318.0 e 317.3 e OCT. NOV. DEC. 7.7 7.9 8.1 1.5 1.5 1.7 6.7 6.7 6.6 3.6 4.4 4.8 5.7 6.0 7.4 25.0 24.2 20.5 34.4 34.6 32.8 1.5 1.6 1.5 145.9 147.0 147.7 130.7 e 129.8 e 129.0 e 41.0 e 41.1 e 41.3 e 317.6 e 317.9 e 318.1 e 8.3 1.7 6.6 5.4 7.4 27.9 40.7 1.8 148.3 128.7 e 41.5 e 318.5 e 1991-DEC. 16 23 30 8.4 8.0 8.3 1.7 1.6 1.9 6.7 6.6 6.6 7.2 4.4 4.1 4.7 9.2 10.8 6.5 30.9 33.5 18.4 44.5 48.3 1.5 1.5 1.5 1992-JAN. 6 13 20 27 8.5 8.0 8.3 8.5 2.3 1.5 1.6 1.7 6.6 6.6 6.6 6.6 6.2 4.0 6.1 5.2 9.4 5.5 5.9 8.1 27.3 20.5 25.2 34.5 42.9 30.1 37.2 47.8 1.5 1.9 1.9 1.9 3p lOp 7.9 7.6 1.6 1.8 6.6 6.6 5.4 3.6 9.2 6.9 35.3 23.5 49.9 34.0 1.9 1.9 1992-JAN. P Meek ending FEB. -indicates estimated data, -indicates preliminary data. H.6 (508) Special Supplementary Table Monthly Survey of Selected Deposits 1 December 25,1991 and January 29,1992 (not seasonally adjusted) Insured Commercial Banks Amount Outstanding ($mil.) Jan. 29 Change (b.p.) 3?76 337 -39 1.98 2.12 4.30 N.A. 3.93 N.A. -37 N.A. 145,645 1.48 N.A. N.A. N.A. 46,462 46,362 -0.22 4.18 3.85 -34 157,990 209,655 172,272 154,341 -2.31 4.42 4.07 -34 202,558 168,704 -3.38 4.59 4.95 4.26 -2.07 -33 -34 157,268 155,417 -1.18 5.55 4.61 5.30 147,918 148,769 0.58 N.A. N.A. Change (percent) Liability Categories Dec. 25 Jan. 29 NOW Accounts 244,512 242,111 ^098 652,469 508,952 665,379 519,734 143,518 Savings Deposits Personal 2 Nonpersonal Interest-bearing time deposits with balances of less than $100,000 with original maturities of: 7 to 91 days 92 to 182 days 183 days to 1 year 1 to 2-'/ 2 year 2-1/2 years and over All IRA/Keogh Plan deposits3 BIF-insured Savings Amount Outstanding ($mil.) Liability Categories Change (percent) 3.04 2.94 4.98 N.A. 4.61 N.A. -37 N.A. 2,778 5.64 N.A. N.A. N.A. 4,472 22,046 0.30 1.53 -5.34 4.66 4.92 4.36 4.50 4.72 -30 -43 5.24 19,342 -2.33 3.66 5.97 4.83 5.64 23,138 -0.03 N.A. N.A. 71,233 68,604 73,398 70,620 2,629 183 days to 1 year 4,459 21,714 29,682 28,098 1 to2-V2year 25,184 24,597 18,660 23,145 2-V2 years and over 3 All IRA/Keogh Plan deposits Average Rate Paid (%) -40 -3.62 Interest-bearing time deposits with balances of less than $100,000 with original maturies of: 7 to 91 days 92 to 182 days Banks4 4M 9,325 Nonpersonal N.A. 445 ~~ 9,676 Savings Deposits Personal -25 Change (b. p.) Jan. 29 2 Dec. 25 Jan. 29 Dec. 25 NOW Accounts Average Rate Paid (%) Dec. 25 5.11 -39 -41 -33 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 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. BEF-insured savings banks include both mutual and federal savings banks.