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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES6

For release at 430 p.m. Eastern Time

Billions of dollars

Date

FfflRUAR/22,1996

M11

M22

DEBT5

M33
Seasonally adjusted

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

1137.0
1141.2
1143.2
1144.4
1146.1
1151.4
1150.0
1150.4
1148.9
1148.7
1148.7

3500.7
3506.5
3513.5
3511.6
3500.6
3508.0
3504.1
3503.8
3503.9
3506.8
3509.4

4243.0
4251.0
4261.4
4260.6
4258.8
4277.8
4276.5
4284.9
4293.7
4304.4
4319.4

5178.3
5186.8
5201.0
5212.0
5205.9
5230.4
5240.3
5242.9
5261.8
5281.1
5303.4

12605.3
12674.7
12737.0
12801.3
12843.7
12864.3
12926.4
12986.6
13036.8
13111.2
13153.2

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

1149.2
1147.8
1148.7
1151.2
1146.2
1144.5
1145.4
1143.8
1140.2
1131.8
1129.0
1124.8

3515.3
3517.5
3525.1
3537.3
3551.9
3582.6
3601.5
3621.6
3635.0
3642.1
3653.2
3670.2

4343.1
4355.3
4375.2
4399.3
4428.0
4466.8
4494.7
4522.2
4542.9
4557.5
4567.9
4582.0

5330.7
5364.3
5401.6
5436.5
5464.2
5503.7
5552.6
5588.0
5633.9
5660.6
5667.9
5695.1 p

13201.9
13279.8
13342.3
13419.4
13519.6
13578.2
13613.1
13664.9
13704.0
13745.0
13807.8
13841.8 p

1996-JAN. p

1119.1

3686.0

4611.8

Not seasonally adjusted
1994-FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1124.1
1131.4
1152.5
1132.3
1141.9
1150.6
1143.9
1146.5
1147.8
1155.9
1174.2

3483.3
3501.2
3528.9
3498.4
3498.6
3511.6
3502.9
3498.8
3500.5
3513.5
3529.8

4228.0
4245.1
4271.2
4247.2
4256.5
4276.6
4277.2
4278.4
4292.8
4317.4
4341.1

5169.2
5189.1
5209.9
5193.3
5198.4
5225.1
5237.4
5229.1
5253.4
5295.7
5332.9

12583.3
12643.4
12686.2
12732.4
12788.3
12814.8
12874.8
12945.2
13000.7
13085.0
13145.8

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

1159.0
1134.7
1138.8
1159.8
1133.5
1140.6
1145.2
1138.5
1137.3
1131.0
1136.5
1150.7

3518.4
3499.3
3518.8
3551.8
3538.4
3581.0
3607.0
3622.8
3631.3
3638.1
3658.8
3689.9

4347.6
4337.4
4367.0
4406.8
4414.0
4464.8
4495.3
4525.6
4537.6
4557.3
4580.8
4603.0

5343.4
5353.4
5403.1
5444.1
5445.7
5495.9
5548.8
5588.4
5618.9
5650.1
5681.2
5724.7 p

13178.2
13231.5
13301.9
13358.0
13430.0
13511.2
13555.6
13601.2
13656.9
13703.7
13771.3
13828.6 p

1996-JAN. p

1128.0

3687.8

4616.4

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 Months from OCT. 1995 TO JAN. 1996

-4.5

4.8

4.8

4.0

6 Months from JULY 1995 to JAN. 1996

-4.6

4.7

5.2

3.9

12 Months from JAN. 1995 TO JAN. 1996

-2.6

4.9

6.2

5.2

Thirteen weeks ending FEBRUARY 12, 1996
from thirteen weeks ending?
NOV. 13, 1995 (13 weeks previous)

-4.9

4.2

4.3

AUG. 14, 1995 (26 weeks previous)

-3.9

4.8

5.3

FEB. 13, 1995 (52 weeks previous)

-2.3

4.6

6.2

1.

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, September 1995 to December 1995, June 1995 to December 1995,
and December 1994 to December 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 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, ana adding this result to seasonally adjusted M 1 .
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.




Page 3
H.6(508)
Table 3

MONEY STOCK MEASURES
Billions of dollars

Seasonally adjusted
M
1
Period ending

M3

M2

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

27

1135.1
1134.1

1129.5
1129.2

1128.8
1130.1

3639.8
3642.4

3648.5
3652.2

3653.1
3657.7

4551.3
4554.8

4562.8
4566.4

4568.4
4571.3

DEC.

4
11
18
25

1133.0
1131.5
1130.0
1128.9

1128.4
1127.7
1126.0
1124.4

1128.2
1123.7
1122.0
1123.8

3644.8
3647.2
3649.7
3652.5

3655.6
3659.4
3663.0
3666.5

3661.6
3665.3
3667.5
3671.6

4558.1
4560.6
4563.3
4566.6

4571.5
4574.4
4576.5
4579.5

4581.3
4576.5
4576.8
4583.5

1996-JAN.

1
8
15
22
29

1128.1
1127.4
1126.6
1125.5
1124.3

1123.5
1123.2
1123.1
1121.5
1119.0

1124.6
1122.3
1121.8
1117.3
1114.7

3655.3
3658.6
3663.0
3666.4
3669.3

3670.1
3674.9
3682.8
3686.4
3687.5

3675.8
3684.6
3699.3
3685.7
3680.4

4569.3
4573.5
4579.0
4583.1
4586.5

4580.6
4589.0
4602.4
4609.9
4613.9

4585.4
4610.3
4630.3
4613.4
4601.5

5p
12p

1123.3
1122.3

1118.3
1116.3

1119.2
1113.8

3672.4
3675.8

3688.7
3687.3

3689.2
3693.9

4590.9
4596.8

4615.8
4618.7

4617.9
4642.1

1995-NOV. 2 0

FEB.

Not seasonally adjusted
1995-NOV. 2 0
27

1134.1
1134.8

1133.4
1136.9

1136.9
1129.5

3637.7
3641.4

3649.8
3658.7

3660.3
3654.2

4552.0
4556.8

4571.8
4580.6

4581.1
4577.8

DEC.

4
11
18
25

1134.7
1133.9
1134.0
1136.7

1136.4
1139.2
1140.8
1145.9

1142.8
1147.5
1143.4
1150.0

3644.5
3647.3
3651.1
3657.2

3662.5
3670.1
3676.7
3684.5

3674.5
3691.5
3686.5
3685.4

4561.1
4564.4
4568.6
4575.4

4585.4
4590.5
4594.8
4599.4

4598.0
4605.0
4598.4
4596.3

1996-JAN.

1
8
15
22
29

1139.8
1141.5
1141.5
1140.9
1139.0

1151.3
1155.3
1155.1
1146.3
1127.9

1164.2
1163.6
1142.6
1114.9
1090.3

3663.4
3668.3
3673.2
3677.0
3678.9

3690.6
3697.3
3704.8
3702.5
3688.4

3698.9
3718.4
3716.4
3676.2
3642.5

4581.6
4587.0
4593.2
4597.6
4599.9

4601.9
4610.1
4623.5
4626.4
4617.7

4608.0
4637.8
4651.7
4608.0
4573.2

5p
12p

1136.6
1134.1

1115.4
1105.7

1113.7
1104.0

3680.1
3681.7

3677.7
3669.0

3675.7
3681.6

4601.9
4605.6

4609.4
4604.6

4604.7
4632.6

FEB.

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
Currency1

Date

Travelers checks2 Demand deposits3

Nontransactions components

Other checkable deposits
At commercial
banks4

At thrift
institutions5

Total

lnM2*

In M3 only7

1994-SEP.

347.4

8.4

385.8

299.3

109.5

408.8

2353.4

781.1

OCT.
NOV.
DEC.

350.1
353.3
354.9

8.4
8.4
8.5

384.7
382.9
382.4

297.0
296.3
295.9

108.7
107.8
107.0

405.7
404.1
402.9

2355.0
2358.1
2360.7

789.8
797,6
809.9

1995-JAN.
FEB.
MAR.

357.6
359.0
362.3

8.5
8.5
8.7

383.3
383.5
382.9

294.2
292.0
290.4

105.6
104.8
104.3

399.8
396.8
394.8

2366.2
2369.7
2376.4

827.7
837.9
850.1

APR.
MAY
JUNE

365.0
367.6
367.0

9.0
9.1
9.0

382.1
382.1
386.5

290.9
283.5
277.0

104.2
103.9
105.0

395.1
387.4
382.0

2386.1
2405.8
2438.1

862.0
876.1
884.2

JULY
AUO.
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

2456.1
2477.8
2494.8

893.2
900.7
908.0

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
360.3
353.0

2510.3
2524.2
2545.4

915.4
914.7
911.8

p

373.6

8.9

393.5

236.5

106.6

343.1

2566.9

925.8

18
25

373.1
373.0

8.9
8.9

388.0
390.8

245.0
243.6

107.0
107.4

352.0
351.1

2545.4
2547.8

909.4
911.9

1
15
22
29

373.6
373.6
374.3
373.2
373.6

8.9
8.9
8.9
8.9
8.9

390.8
393.7
395.8
392.6
392.7

243.5
238.4
234.9
236.1
235.3

107.8
107.7
107.9
106.5
104.2

351.2
346.1
342.8
342.6
339.5

2551.3
2562.3
2577.4
2568.4
2565.7

909.6
925.7
931.0
927.7
921.1

5p
12p

372.9
372.6

8.9
8.9 e

397.2
395.4

232.4
230.0

107.8
106.9

340.3
336.9

2570.1
2580.1

928.6
948.2

1996-JAN.

WQeft gating
1995-DEC
1996-JAN.

8

FEB.

1.
2.
3.
4.
5.
6.
7.
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 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
Savings deposits 1
Date

Small-denomination time deposits 2

Retail

Institutional

Total

money
funds**

money
funds4

Large-denomination time deposits 5

At
commercial
banks

At
thrift
institutions

Total

At
commercial
banks

At
thrift
institutions

1994-SEP.

772.1

416.2

1188.3

481.5

307.8

789.3

375.8

177.2

287.5

At
thrift
institutions
63.1

OCT.
NOV.
DEC.

764.9
759.1
751.9

411.2
404.0
397.0

1176.1
1163.1
1148.9

488.9
496.0
505.4

311.5
316.5
318.2

800.4
812.5
823.7

378.6
382.5
388.1

182.0
182.9
183.7

290.5
294.5
298.7

63.9
64.3
64.8

354.5
358.8
363.5

1995-JAN.
FEB.
MAR.

743.8
734.8
725.2

390.9
383.2
377.3

1134.7
1118.0
1102.5

516.0
526.9
538.7

323.1
330.6
339.0

839.1
857.5
877.7

392.4
394.2
396.2

189.3
188.4
195.0

297.4
303.9
308.4

66.8
67.9
69.2

364.2
371.8
377.6

APR.
MAY
JUNE

718.8
719.8
729.3

372.4
369.7
367.7

1091.2
1089.5
1097.0

546.9
554.3
561.1

346.5
351.8
352.6

893.4
906.1
913.7

401.5
410.1
427.4

199.4
203.7
213.2

309.9
314.1
316.7

71.1
70.4
70.9

381.0
384.5
387.7

JULY
AUG.
SEP.

731.3
739.1
746.3

365.0
362.4
362.1

1096.2
1101.6
1108.4

566.5
569.8
571.7

352.9
353.9
355.3

919.4
923.8
927.0

440.4
452.4
459.4

218.6
218.5
221.7

321.3
323.5
326.9

72.7
73.4
73.8

394.0
396.8
400.7

OCT.
NOV.
DEC.

753.9
760.3
775.0

362.2
360.3
359.5

1116.1
1120.6
1134.5

573.2
575.4
576.2

356.6
358.4
359.5

929.9
933.9
935.7

464.3
469.7
475.1

223.6
224.0
226.4

335.8
341.5
343.5

74.5
74.8
75.1

410.3
416.3
418.6

794.2

358.7

1152.9

578.3

356.7

935.0

479.0

229.6

344.9

76.1

421.0

774.2
775.2

359.6
359.7

1133.8
1134.9

576.3
575.9

359.9
360.1

936.2
936.0

475.4
476.9

225.2
226.6

343.8
345.2

75.
75,

418.8
420.4

1
8
15
22
29

780.8
792.3
799.7
795.3
793.1

358.2
358.3
358.7
359.4
359.6

1139.0
1150.6
1158.4
1154.7
1152.8

577.1
576.8
578.7
579.0
579.0

358.5
358.8
356.5
355.7
355.5

935.5
935.5
935.3
934.7
934.6

476.8
476.2
483.7
478.9
478.3

227.8
230.8
231.8
229.9
227.4

342,
344,
346,
344,
344,

75.7
76.2
76.1
76.0
76.3

417.9
420.3
422.5
420.5
420.6

5p
12p

798.8
803.9

359.8
359.8

1158.6
1163.7

578.5
577.7

356.2
356.4

934.8
934.1

476.7
482.3

225.8
241.4

349.3
351.8

76.6
76.4

425.9
428.1

1996-JAN.

P

Week endina
1 9 9 5 - D E C . 18
25
1996-JAN.

FEB.

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

commercial
banks6

Total
350.6

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.

p
 preliminary


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

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

RPs 1

Date

Non-M3 Components of L

Eurodollars2

Short-term
Treasury
securities3

Savings bonds
1994-SE£.

174.1

79.3

Bankers
acceptances4

Commercial paper5

Debt components6
Federal debt

Non-Federal debt

179.0

373.7

14.7

390.7

3455.3

9531.2

13.5
13.7
14.2

399.6
402.4
402.4

3470.6
3494.7
3497.6

9566.2
9616.5
9655.6

OCT.
NOV.
DEC.

172.3
r?4.i
180.4

81.0
81.7
82.3

179.4
179.8
180.3

375.6
380.8
387.3

1995-JAN.
FSB.
MAR.

186.9
191.3
190.4

87.3
86.4
87.2

180.5
180.5
180.7

387.3
400.2
411.1

13.6
13.5
13.7

406.3
414.9
420.9

3504.5
3535.2
3556.4

9697.5
9744.6
9785.9

APR.
MAY
JUNE

191.5
196.8
191.4

90.1
91.1
91.8

181.2
181.7
182.4

412.0
405.4
414.6

13.4
12.0
11.0

430.6
437.0
428.9

3558.6
3576.9
3602.6

9860.8
9942.7
9975.6

JULY
AUG.
SEP.

188.0
192.2
191.8

92.6
93.1
93.7

183.0
183.5
183.9

433.8
436.5
455.6

12.1
12.4
12.8

429.0
433.3
438.6

3615.5
3621.4
3623.8

9997.6
10043.5
10080.2

OCT.
NOV.
DEC.

189.3
185.3
178.1

92.1
89.1
88.7

184.2
184.5
184.8

464.7
465.7
479.3

13.4
12.6
11.9 p

440.7
437.3
437.1 p

3632.6
3645.8
3638.4

10112.3
10162.1
10203.4

183.1

92.0

178.3
176.8

87.0
88.1

1
8
15
22
29

174.6
184.3
185.0
183.8
180.2

89.3
90.4
91.7
93.5
92.9

5p
12p

184.6
186.0

92.4
92.7

1996-JAN.

p

Week ending
1995-DEC. 18
25
1996-JAN.

FEB.

p

p

p

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.
4. 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

preliminary




p

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

Nontransactions components

Other checkable deposits
At commercial
banks4

At thrift
institutions5

Total

lnM2 *
1
2

In M 3 only7

1994-SEP.

347.0

8.8

384.4

297.2

109.0

406.3

2352.4

779.6

OCT.
NOV.
DEC

349.5
353.2
357.5

8.5
8.2
8.1

387.6
390.5
400.1

294.0
296.0
300.6

108.3
108.0
107.9

402.2
404.0
408.4

2352.7
2357.5
2355.6

792.3
803.9
811.4

1995-JAN.
FEB.
MAR.

355.8
357.0
361.3

8.1
8.1
8.4

388.7
374.7
374.0

301.3
292.3
291.1

105.1
102.6
103.9

406.4
394.9
395.1

2359.4
2364.6
2380.1

829.2
838.1
848.2

APR.
MAY
JUNE

365.5
367.9
368.2

8.8
8.9
9.2

382.1
373.1
382.8

296.6
279.8
274.8

106.8
103.8
105.5

403.4
383.6
380.3

2392.0
2405.0
2440.4

855.0
875.6
883.8

JULY
AUG.
SEP.

369.
369.
369.

388.8
386.8
388.5

272.7
268.7
264.7

105.
104,
105,

377.8
373.1
370.3

2461.8
2484.3
2494.0

888.4
902.8
906.3

OCT.
NOV.
DEC.

370,
371,
376.

391.1
395.8
408.0

255.6
253.9
249.7

105,
106,
108,

361.
360.
358,

2507.0
2522.3
2539.2

919.3
922.0
913.2

399.0

242.3

106.5

348.8

2559.8

928.6

1996-JAN.

p

371.7

1995-DEC.

18
25

375,
379,

403
408

249,
247.

107,
106,

356,
353,

2543.0
2535.4

911.9
910.9

1996-JAN.

1
8
15
22
29

376,
374,
373,
370,
368,

422,
417,
408,
390,
379,

248.8
251.7
244.0
240.5
232.7

108.1
111.6
108.9
104.8
100.9

356.9
363.3
352.8
345.3
333.6

2534.8
2554.8
2573.8
2561.4
2552.2

909.1
919.4
935.4
931.8
930.7

5p
12p

370.2
371.3

392.4
387.0

235.4
231.4

107.3
105.8

342.7
337.2

2561.9
2577.6

929.0
951.1

FEB.

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

8.5

8.5
8.5

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.
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
Small-denomination time deposits2

Savings deposits1
Date

To

Institutional
money
funds4

— S t —
thrift
institutions

Total

Retail
money
funds3

308.0

790.0

372.3

174.2

Large-denomination time deposits5

1994-SEP.

773.3

OCT.
NOV.
DEC.

766.0
761.9
751.6

411.8
405.5
396.9

1177.7
1167.4
1148.5

488.6
493.9
502.5

311.3
315.2
316.4

800.0
809.2
818.9

375.
381,
388,

180.0
184.7
185.5

292.2
296.7
298.5

64.3
64.7
64.8

356.5
361.4
363.2

1995-JAN.
FEB.
MAR.

740.2
730.3
723.9

389.0
380.9
376.6

1129.2
1111.2
1100.4

514,
526,
539,

322.0
330.0
339.5

836.3
856.1
879.0

393.8
397.3
400.7

195.3
193.4
195.6

295.1
302.4
306.9

66,
67,
68,

361.4
370,0
375.8

APR.
MAY
JUNE

718.4
718.4
730.9

372.1
369.0
368.5

1090.5
1087.4
1099.4

548,
555.
562.

347.4
352.8
353.7

895.9
908.8
916.5

405.6
408.8
424.6

197.1
202.0
208.8

307.7
316.2
317.5

70,
70.
71.

378.3
387.1
388.7

JULY
AUG.
SEP.

733.3
741.5
748.0

365
363
363

1099,
1105,
1111,

568.
571,
571,

354.3
354.8
355.4

923
925
927

439,
453,
455.

215.
218.
218.

319.9
324.4
327.7

72,
73,
74,

392.3
397.9
401.7

OCT.
NOV.
DEC.

755.4
763.4
775.0

362,
361,
359,

1118,
1125.
1134.

572.
572,
572,

356,
356,
357,

928.8
929.3
929.3

459.9
467.8
475.3

221.8
226.3
228.6

338.1
344.3
343.4

75,
75.
75.

413.2
419.8
418.5

P

790.4

357.0

1147.4

576.0

355.2

931.3

481.1

237.2

342.2

75.5

417.7

1995-DEC.

18
25

775.3
771.9

360 .1
358 .2

1135.4
1130.1

572.0
571.6

357.2
357.3

929.2
928.9

478.4
476.4

228.2
228.2

344.2
344.4

75.1
75.0

419.3
419.4

1996-JAN.

1
8
15
22
29

777.0
792.8
798.1
789.0
783.0

356,.4
358,.6
358,.0
3 5 6 ,.5
355,.1

1133.4
1151.4
1156.1
1145.6
1138.1

573.7
574.0
576.3
576.8
577.1

356.3
357.1
355.0
354.4
354.3

930.0
931.1
931.3
931.1
931.3

471.4
472.3
486.4
484.7
482.8

230.0
230.3
240.4
239.6
240.5

339.2
340.6
344.0
341.9
341.4

75.1
75.4
75.5
75.5
75.6

414.3
416.0
419.6
417.3
417.0

5p
12p

792.6
800.6

3 5 6 .,9
3 5 8 .,3

1149.5
1158.9

577.1
576.6

355.4
355.7

932.5
932.3

479.9
486.4

234.2
249.0

346.3
350.6

75.9
76.1

422.2
426.7

1996-JAN.

Total
1190.1

commercial
banks
481.9

At
commercial
banks6

To

At
thrift
institutions
416.8

At
commercial
banks

Total

288.2

thrift
institutions
63.3

351.5

Week e n d i n a

FEB.

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

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
2

Eurodollars
Total

Savings bonds

Short-term
Treasgry
secunties3

Bankers
acceptances4

Commercial
paper6

Federal debt

Non-Federal
debt

1994-SEP.

139.6

35.1

174.7

79.1

178.4

366.3

14.4

391.5

3438.3

9507.0

OCT.
NOV.
DEC.

137.9
137.3
139.8

36.4
37.2
39.4

174.3
174.6
179.2

81.6
83.3
63.4

179.0
179.7
180.2

364.1
379.7
393.6

13.3
13.6
14.4

404.2
405.3
403.6

3448.5
3485.2
3499.0

9552.2
9599.8
9646.8

1995-JAN.
FEB.
MAR.

144.4
146.4
146.1

40.9
42.0
42.7

185.3
188.3
188.7

87.2
86.4
88.0

180.6
180.8
181.2

390.6
406.0
420.7

14.2
13.9
13.9

410.5
415.3
420.4

3499.0
3525.0
3551.1

9679.3
9706.5
9750.7

APR.
MAY
JUNE

146.8
151.3
150.2

43.8
45.3
45.1

190.6
196.6
195.3

88.9
89.9
91.0

181.7
182.1
182.4

411.3
402.8
412.2

13.7
12.1
11.0

430.8
434.7
425.5

3544.1
3552.6
3579.3

9813.9
9877.4
9931.9

JULY
AUG.
SEP.

143.3
146.7
145.7

45.3
46.6
47.0

188.5
193.3
192.7

91.7
93.2
93.9

182.8
183.0
183.3

434.7
439.2
446.0

11.6
11.9
12.6

424.4
428.7
439.4

3588.8
3602.2
3606.8

9966.8
9999.1
10050.1

OCT.
NOV.
DEC.

144.9
138.8
130.5

46.3
46.3
46.2

191.2
185.1
176.7

93.2
90.7
89.4

183.8
184.3
184.8 p

449.3
463.3
486.7 p

13.2
12.5
12.1 p

446.4
440.3
438.1 p

3610.1
3635.9
3639.8 p

10093.6
10135.4
10188.6 p

1996-JAN. P

135.7

46.2

181.8

91.9

Week endin<Z
1995-DEC. 18
25

130.5
128.1

46.6
46.3

177.1
174.5

87.3
88.8

1
8
15
22
29

128.7
137.1
137.5
135.8
133.4

45.3
45.4
46.3
46.4
46.6

174.0
182.5
183.8
182.2
180.0

90.8
90.6
91.6
92.7
93.2

5p
12p

135.1
137.3

46.4
46.4

181.5
183.6

91.1
91.7

1996-JAN.

FEB.

1.
2.

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 ail 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 10
H.6(508)
Table 6

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

Time and
savings
deposits
due to
foreign
banks and
official
institutions

U.S. government deposits
Time and
savings
deposits at
commercial
banks

At
commercial
banks

28.8

2.5

142.7

108.7

56.8

308.1

12.1
9.8
13.4

22.0
18.9
25.3

2.2
1.9
1.3

142.7
142.9
143.3

108.1
107.9
107.5

58.3
59.4
59.7

309.1
310.2
310.5

7.0
5.9
5.2

20.0
21.1
10.1

31.8
30.3
18.8

1.2
2.3
2.4

143.7
144.6
145.6

107.6
107.8
107.9

59.7
59.9
60.1

310.9
312.4
313.5

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
2.5
2.5

146.4
146.8
147.8

107.9
107.8
107.7

60.3
60.5
60.6

14.7
13.5
12.4

3.3
2.8
5.9

6.6
5.3
6.8

27.7
13.6
17.8

37.6
21.7
30.6

2.8
2.8
2.7

148.9
149.1
149.4

107.7 e
107.5 e
108.0 e

60.7 ©
60.7 e
60.7 e

317.3
317.4
318.2

1.5
1.6
1.5

11.9
12.0
11.9

3.1
2.9
6.0

5.3
5.4
6.5

11.4
8.2
14.6

19.8
16.5
27.1

2.6
1.4
1.0

150.0
151.2
152.1

108.5 e
108.3 e
108.2 e

60.7
60.7
60.8

e
e
e

319.2 e
320.2 e
321.1 e

8.0

1.4

12.0

4.3

6.2

15.9

26.4

1.1

152.7

108.1 e

60.9

e

321.7

7.8
7.6

1.4
1.4

11.9
11.9

12.8
3.8

6.6
8.5

13.5
22.9

32.9
35.2

Note
balances at
depository
institutions

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

14.6

5.8

6.0

16.9

1.6
1.8
1.6

14.8
14.6
14.4

4.3
3.9
5.7

5.6
5.2
6.2

8.4
8.0
8.1

1.6
1.6
1.6

14.0
13.3
12.7

4.8
3.3
3.4

APR.
MAY
JUNE

7.7
8.2
8.2

1.6
1.5
1.5

12.8
13.8
14.8

JULY
AUG.
SEP.

8.5
7.5
7.5

1.5
1.4
1.6

OCT.
NOV.
DEC.

8.2
8.0
7.9

Date

Foreign
commercial
banks

Foreign
official
institutions

1994-SEP.

8.1

1.5

OCT.
NOV.
DEC.

8.0
8.4
8.7

1995-JAN.
FEB.
MAR.

1996-JAN.

p

Week eRdjpq
1995-DEC. 18
25
1996-JAN.

FEB.

B
p

IRA and Keoghi Accounts

Total
cash
balance

1
8
15
22
29

11,
12.
12.
12.
12.

16,
8,
8,
16,
29.

28,
18,
17.
30.
38.8

5p
12p

11.
11.

18.8
8.1

28.
16.

estimated
preliminary




1.2
1.2

At
thrift
institutions

At
money
market
funds

Total

e
e

314.5
315.0 e
316.1 e
e
•
e

e

H.6 (508)
Special Supplementary Table

Monthly Survey of Selected Deposits *
December 31,1995 and January 31,1996
(not seasonally adjusted)

Insured Commercial Banks
Amount Outstanding ($mil.)
Liability Categories

Dec. 31

Jan. 31

NOW Accounts

252,434

250,508

793,168
628,372

Change
Opercent)

Average Rate Paid (%)
Change
(b. p.)

Dec. 31

Jan. 31

^076

132

L92

785,837
626,183
159,654

-0.92
-0.35
-3.12

3.10
N.A.
N.A.

3.01
N.A.

3.17
1.64

3.97

92 to 182 days
183 days to 1 year

33,846
98,494

4.11

96,902
187,828

188,948

0.60

4.69
5.03

4.58
4.92

1 to 2-V2 year
2-V2 years and over

211,388
203,227

215,161
204,178

1.78
0.47

5.18
5.41

5.04
5.26

-14
-11
-11
-14
-15

152,390

153,056

0.44

N.A.

N.A.

N.A.

Savings Deposits
Personal
Nonpersonal

2

164,796

Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:
7 to 91 days

3

All IRA/Keogh Plan deposits

32,807

N.A.

0
-9
N.A.
N.A.

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

Average Rate Paid (%)

Dec. 31

2

Savings Deposits
Personal
Nonpersonal

Interest-bearing time deposits with
balances of less than $100,000
with original maturies of:
7 to 91 days

Change
(percent)

Dec. 31

11,950

Z10

L91

TM

-7

71,402
67,919
3,482

NOW Accounts

Jan. 31

12,727

Liability Categories

69,619
66,095
3,524

-2.50
-2.69
1.19

2.99
N.A.
N.A.

2.96
N.A.
N.A.

N.A.
N.A.

2,115
12,754

2,074

-1.97

4.44

4.39

13,046
27,907
28,124

2.29

4.87

92 to 182 days
183 days to 1 year

27,072

1 to 2-V2 year
2-V2 years and over

28,966
24,247
3

All IRA/Keogh Plan deposits

21,949

Jan. 31

Change
(b.p.)

-3

3.09

4.95
5.19

23,923

-2.90
-1.34

5.32
5.47

5.07
5.22
5.34

-5
-8
-12
-10
-13

22,089

0.64

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