Full text of H.6 Money Stock Measures : February 24, 1994
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FEDERAL RESERVE statistical release H.6 (508) Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES For release at 4:30 p.m. Eastern Time Billions of dollars Date FEBRUARY 24, 1994 M11 M22 M33 L4 DEBT5 Seasonally adjusted 1992-FBB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 927,.3 937,.8 943,.7 952 .7 9 5 4 .7 964,.2 976,. 1 989..2 1 0 0 4 ..2 1016..6 1024..8 3483,.6 3486 .3 3481..9 3 4 8 2 .. 1 3 4 7 7 ..8 3 4 8 0 . .7 3 4 8 9 ..4 3 4 9 6 ..6 3 5 0 7 ..5 3 5 1 0 . .5 3 5 0 9 ..0 4203.0 4203.1 4190.7 4189.9 4183.7 4186.0 4196.7 4200.4 4196.9 4194.1 4183.0 5014 .4 5028 .6 5025 .4 5021 .7 5026 .9 5026 . 6 5041 .0 5056 .7 5058,.5 5 0 6 5 .3 5 0 5 7 .. 1 11235,.0 11284,.9 1 1 3 3 5 ..6 1 1 3 8 1 ,.7 11434,.8 11494,. 1 1 1 5 5 3 ..4 1 1 5 9 7 ..8 1 1 6 2 5 . .7 1 1 6 6 5 . .6 1 1 7 2 1 ..1 1993-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 1033..0 1035..4 1 0 4 0 ..2 1047..1 1 0 6 7 . .7 1 0 7 6 ..6 1 0 8 6 ..8 1 0 9 5 . .3 1105..1 1 1 1 3 . .4 1 1 2 2 . .4 1 1 2 8 . .5 3 5 0 2 ..8 3 4 9 4 . .2 3 4 9 4 . .8 3 4 9 8 . .0 3 5 2 1 . .9 3 5 2 8 . .7 3 5 3 4 . .0 3 5 3 7 . .0 3 5 4 5 . .4 3547. 3 3 5 5 8 . ,8 3565. 8 4162.4 4156.0 4154.6 4162.0 4187.7 4188.0 4187.5 4188.0 4197.3 4203.2 4216.1 4228.1 5 0 4 0 ..9 5 0 3 7 ..6 5 0 3 8 ..6 5 0 5 5 . .9 5 0 8 8 . .7 5 0 8 9 ..3 5 0 8 5 . .5 5 0 9 5 . .3 5 0 8 8 ..2 5 0 9 5 . .9 5 1 0 7 . .5 5 1 3 0 . .6 p 1 1 7 5 7 . .8 1 1 7 8 1 . .6 1 1 8 2 1 . .3 1 1 8 6 7 . .4 1 1 9 1 2 . .7 1 1 9 7 6 ..1 1 2 0 3 3 . .4 1 2 0 8 8 . .3 1 2 1 4 1 . .9 12177. 4 12239. 5 12316. 8 p 1994-JAN. 1 1 3 3 . .6 3 5 7 2 . .4 4231.8 Not seasonally adjusted 1992-FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 916..1 9 3 0 ..6 9 5 4 . .7 9 4 3 . .9 9 5 2 ..0 9 6 2 . .9 9 7 1 . .0 9 8 3 ..6 1 0 0 1 . .8 1 0 2 2 .. 4 1 0 4 6 . .7 3 4 7 5 ..2 3 4 8 9 ..4 3 4 9 8 ..9 3 4 6 7 ..4 3 4 7 3 ..4 3 4 7 8 .. 1 3 4 8 4 .. 1 3 4 8 6 . .1 3 5 0 4 ..6 3 5 1 7 ..4 3527 . 6 4198..3 4 2 0 8 ..2 4 2 0 5 ..2 4 1 8 0 . .2 4 1 7 9 ..8 4 1 8 0 . .3 4 1 9 5 ..5 4 1 9 0 ..0 4190..5 4203 . 6 4 1 9 8 . .2 5011,.4 5036,.5 5 0 3 5 ..2 5001..1 5 0 1 6 . .7 5 0 1 2 . .9 5032 . 9 5 0 4 5 ..2 5 0 5 0 ..3 5083 .6 5 0 8 7 .. 6 11208 .1 11256 .9 1 1 3 0 6 .9 11348,.5 1 1 3 9 9 ,.9 1 1 4 5 1 ..8 1 1 5 1 2 ..5 1 1 5 6 4 . .7 1 1 5 9 8 . .9 1 1 6 5 6 . .8 1 1 7 2 2 . .0 1993-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 1 0 4 1 . .0 1 0 2 3 .. 0 1 0 3 1 . .6 1 0 5 8 . .7 1058..1 1 0 7 3 . .2 1 0 8 4 . .6 1 0 8 8 . .8 1 0 9 9 .. 1 1 1 1 1 . .8 1 1 2 9 . .6 1 1 5 3 . .9 3 5 0 8 ..3 3 4 8 4 ..2 3 4 9 5 ..8 3 5 1 5 . .2 3 5 0 7 ..3 3 5 2 4 ..4 3 5 3 0 ..3 3 5 2 9 . .9 3 5 3 5 ..0 3 5 4 5 . .3 3 5 6 7 .. 5 3 5 8 8 ..4 4 1 6 2 . .9 4149..4 4 1 5 7 ..3 4 1 7 7 ..3 4 1 7 8 . .7 4 1 8 4 . .3 4 1 8 0 . .6 4 1 8 4 . .7 4 1 8 6 . .4 4 1 9 7 . .7 4 2 2 7 ..7 4247 . 5 5 0 5 4 ..6 5 0 3 2 . .2 5044 . 8 5 0 6 5 . .3 5 0 6 6 ..6 5 0 7 8 . .7 5 0 7 0 . .9 5 0 8 5 ..1 5 0 7 6 ..1 5 0 8 8 .. 4 5 1 2 8 . .7 5 1 6 5 . .6 p 1 1 7 4 4 . .2 1 1 7 5 6 . .5 1 1 7 9 7 . .6 1 1 8 4 0 . .2 1 1 8 8 1 . .7 1 1 9 4 2 . .7 1 1 9 9 4 ..1 1 2 0 5 1 . .7 1 2 1 1 0 . .2 1 2 1 5 0 . .4 1 2 2 2 9 . .8 1 2 3 1 7 . .3 p 1994-JAN. 1 1 4 2 . .9 3 5 7 9 .. 1 4 2 3 2 ..6 Footnotes appear on the following p a g e 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 1994 7.3 2.8 2.7 5.8 1994 8.6 2.2 2.1 5.7 12 Months from JAN. 1 9 9 3 TO JAN. 1 9 9 4 9.7 2.0 1-7 5.1 2.3 3 M o n t h s f r o m OCT. 1 9 9 3 TO JAN. 6 M o n t h s f r o m JULY 1993 t o JAN. T h i r t e e n weeks ending FEBRUARY .14, 19 9 4 f r o m thirteen weeks e n d i n g : NOV. 1 5 , (13 weeks p r e v i o u s ) 7.8 2.4 AUG. 1 6 , 19 9 3 (26 weeks p r e v i o u s ) 9.0 2-1 FEB. 1. 19 9 3 1993 (52 w e e k s p r e v i o u s ) 10.0 1.8 15, 1.3 Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, September 1993 to December 1993, June 1993 to December 1993, and December 1992 to December 1993, 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 c a s h tiems 1 n 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. • , . nf 11 c Consists of M1 plus overnight (and continuing contract) RPs issued by all depository institutions and overnight Eurodollars issued to U.S. residents by I 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 Keoq'h 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 a s a whole and tion-only money market mutual funds. Excludes amounts held by depository institutions, the U.S. government money market funds, and' f o r e>9 n Also subtracted is the estimated amount of overnight RPs and Eurodollars held by institution-only money market mutual funds. Seasonally adjusted M3 is obtained 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 hf# aHlnitfnn by adjusting mor^t market 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 , 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. T h e s e 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.1. In those releases, published levels of credit market debt are measured on a quarter-end basis and include discontinuities. Page 3 H.6 (508) Table 3 MONEY STOCK MEASURES Billions of dollars Seasonally adjusted M1 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 1993-NOV. 22 29 1111.3 1113.4 1120.9 1122.4 1122.3 1125.2 3548.2 3550.3 3556.2 3559.0 3557 .3 3560.8 4202.6 4205.2 4212.8 4216.3 4215.7 4219.2 DEC. 6 13 20 27 1115.2 1117.0 1118.7 1120.6 1123.9 1125.0 1126.6 1128.1 1126.1 1126.5 1128.7 1131.1 3551.8 3553.3 3554.9 3556.5 3560.4 3561.9 3564.1 3565.3 3562.5 3567.0 3566.1 3565.7 4207.5 4209.9 4212.2 4214.5 4218.3 4221.4 4224.4 4227.1 4220.8 4229.8 4227.9 4229.9 3 10 17 24 31 1122.2 1123.8 1125.3 1127.0 1128.3 1129.1 1130.1 1131.2 1132.5 1134.1 1130.0 1130.5 1133.3 1136.3 1136.1 3558.1 3559.9 3562.2 3564.4 3565.9 3566.8 3567.4 3570.2 3572.5 3572.9 3568.2 3569.7 3577.0 3575.0 3569.8 4217.0 4219.5 4222.2 4224.1 4225.7 4230.1 4230.8 4233.3 4233.6 4231.8 4232.9 4232.3 4237.9 4231.4 4225.4 7p 14p 1129.5 1130.9 1135.4 1136.9 1135.9 1139.3 3566.8 3567.8 3572.7 3571.7 3568.8 3573.3 4225.7 4225.1 4227.0 4219.9 4213.4 4209.3 19 9 4 - J A N . FEB. Not seasonally adjusted 1993-NOV. 22 29 1109.3 1113.0 1125.9 1129.1 1120.8 1124.9 3545.3 3548.7 3563.7 3567.0 3558.9 3553.4 4199.2 4203.3 4221.0 4227.6 4220.0 4220.9 DEC. 6 13 20 27 1116.0 1118.8 1122.7 1128.8 1133.3 1135.9 1143.8 1151.3 1150.0 1147.9 1152.2 1155.1 3552.2 3555.0 3558.9 3564.3 3572.5 3576.1 3582.6 3587.4 3595.7 3596.3 3584.9 3572.5 4207.3 4211.2 4215.5 4221.6 4232.6 4238.7 4244.7 4248.5 4250.1 4263.8 4244.1 4236.0 3 10 17 24 31 1133.8 1137.9 1140.4 1142.5 1142.3 1157.3 1162.9 1162.6 1154.6 1138.7 1174.0 1170.3 1150.8 1123.3 1110.5 3568.8 3573.0 3576.1 3578.7 3578.5 3588.7 3592.4 3594.8 3591.3 3575.7 3601.2 3611.1 3594.5 3558.4 3538.6 4226.2 4230.4 4234.2 4236.1 4236.2 4247.1 4246.6 4249.0 4242.7 4230.4 4244.4 4261.8 4253.6 4211.0 4195.1 7p 14p 1142.4 1141.7 1129.6 1123.9 1133.9 1128.0 3578.0 3576.6 3564.5 3556.8 3566.3 3563.7 4234.6 4232.0 4217.4 4205.2 4209.8 4204.8 19 9 4 - J A N . FEB. Note: Special caution should be taken in interpreting week-to-week c h a n g e s 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 Date Currency1 Travelers checks2 Demand deposits3 Other checkable deposits Nontransactions components At commercial banks4 At thrift institutions5 Total In M26 In M3 only7 1992-SEP. 285.5 8.1 328.0 266.5 101.1 367 . 6 2507.4 703 .8 OCT. NOV. DEC. 287.5 289.5 292.2 8.1 8.2 334.3 337.5 339 .6 271.7 278.2 280.8 102.4 103.2 104.1 374.1 381.4 384.9 2503.3 2493.9 2484.3 689.5 683.5 674.0 1993-JAN. FEB. MAR. 294.5 297.0 299.3 341.9 342.7 344.3 283.5 283.8 284.9 105.0 103.9 103.6 388.6 387 .7 388.5 2469.8 2458.8 2454.7 659.6 661.8 659.8 APR. MAY JUNE 301.8 304.4 307.2 8.1 8.0 349.0 358.8 362.2 284.2 290.3 292 .4 104.1 106.1 106 .8 388.2 396.4 399 .2 2450.9 2454.1 2452.1 664.0 665.9 659.3 JULY AUG. SEP. 309.7 312.4 315.4 7.9 7.8 7.8 366.4 370.9 375.4 294.8 295 .9 297 .8 108.0 108.3 108 .8 402 .8 404.2 406.6 2447.2 2441.7 2440.3 653.5 651.0 651.8 OCT. NOV. DEC. 317 . 319 . 321.4 7.8 7.9 7.9 378.4 383.2 384.9 299.1 300 .8 302 .5 110.4 111.7 409.5 411.8 414.3 2433.9 2436.4 2437.3 655.9 657.3 662.3 199 4-JAN. 325.3 7.9 388.5 300.4 111.6 412.0 2438.8 659.3 Week e n d i n g 1993-DEC. 20 27 321.3 321.5 7.9 7.9 385.0 387.1 302.7 303.1 111.9 111.5 414.6 414.6 2437.3 2434.6 661.8 664.1 3 10 17 24 31 322.5 323 .7 325.0 326.0 327.6 7.9 7.9 7.9 7.9 7.9 385.6 384.9 390.0 390.2 390.3 302 .4 303.7 298.1 299 .6 297 .6 111.6 414.0 413.9 410.4 412.2 410.3 2438.2 2439.1 2443.7 2438.7 2433.7 664.7 662.7 660.9 656.4 655.6 7p 14p 328.3 328.5 7.9 7.9 388.4 392 .5 298 .5 298 .2 411.2 410.4 2432.9 2434.0 644.6 636.0 199 4-JAN. FEB. 1. 2. 3. 8.1 8.0 8.0 8.0 8.1 111.0 110.2 112.3 112 .6 112 .6 112 .7 112 .2 Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions. Outstanding amount of U.S. dollar-denominated travelers c h e c k s 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. 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. http://fraser.stlouisfed.org/ e estimated p preliminary Federal Reserve Bank of St. Louis Page 5 H.6 (508) Table 4 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Small-denomination time deposits2 Savings deposits1 Date At commercial banks At thrift institutions General purpose and broker/dealer money market funds At commercial banks At thrift institutions 1992-SEP. 737.1 423.2 1160. 3 527 . 2 383.8 911. 0 354.5 OCT. NOV. DEC. 745.7 751.1 754.6 425.4 427.8 429.0 1171. 1 1178. 9 1183. 6 520.7 513.4 508.7 375.5 368.8 361.8 896. 2 882. 2 8 7 0 . .5 1993-JAN. FEB. MAR. 754.1 757.2 757.2 429.8 426.5 425.3 1183.8 1183.7 1182.4 504.2 504.8 501.7 356.7 349.0 345.1 860.8 APR. MAY JUNE 759.5 766.7 771.0 426.0 428.4 429.4 1185.5 1195.1 1200.4 496.6 491.9 487.5 JULY AUG. SEP. 771.7 775.4 778.0 430.4 430.5 430.4 1202.1 1205.9 1208.4 OCT. NOV. DEC. 778.4 782.4 785.3 430.4 429.5 430.2 1994-JAN. 790.1 Week e a s i n g Total Total Institutiononly money market funds Large-denomination time deposits3 At commercial banks4 At thrift institutions Total 218.7 307.8 69.9 377.7 356.4 353.7 352.0 209.6 208.5 201.5 301.0 296.1 292.8 69.9 68.5 67.5 371.0 364.6 360.3 853.8 846.8 350.3 345.3 345.9 196.6 198.0 197 . 7 285.7 284.1 279.8 67.5 66.0 65.1 353.2 350.1 344.8 342.8 340.5 336.3 839.4 832.4 823.9 345.9 348.5 347.5 196.3 198.0 194.7 283.6 283.7 281.1 65.3 64.7 64.4 348.9 348.3 345.5 483.0 478.6 475.4 331.8 328.9 325.8 814.8 807.5 801.2 346.6 345.5 345.0 192.6 190.1 190.8 277.6 278.0 276.8 64.5 63.9 63.8 342.1 341.9 340.6 1208.8 1211.9 1215.5 472.4 469.5 468.6 322.8 320.3 316.1 795.2 789.8 784.6 344.8 347.8 349.9 194.3 194.8 197.0 278.2 276.3 277.5 63.7 63.5 61.7 341.9 339 .7 339 .2 430.2 1220.3 465.6 314.0 779.6 348.9 192.7 279.6 61.9 341.5 1993-DEC. 20 27 785.0 785.0 430.8 431.8 1215.8 1216.8 468.5 468.0 315.9 315.4 784.4 783.4 350.1 349 .4 196.8 196.3 277 .3 276.3 61.6 61.2 338.9 337.5 199 4 - J A N . 3 10 17 24 31 784.2 788.2 794.5 790.4 789.5 431.0 429.2 430.7 430.6 430.2 1215.2 1217.4 1225.2 1221.1 1219.7 467 . 0 466.4 465.6 464.7 464.9 314.5 314.4 314.4 314.0 312.9 781.6 780.8 780.0 778.8 777.9 351.1 351.5 349.3 348.5 345.5 198.7 192.7 192.3 191.5 192.0 278.4 279.9 281.4 281.2 277.0 61.5 61.6 61.8 62.0 62.2 339.9 341.5 343.2 343.2 339.2 7p 14p 790.6 792.8 429.3 429.5 1219.9 1222.4 464.9 464.0 312.2 311.6 777.1 775.6 344.9 344.9 185.1 175.2 274.6 275.0 62.1 61.6 336.6 336.5 FEB. 1. 2. 3 4. Savings deposits include money market deposit accounts. . . ., , , iir^A 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, 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 Debt components4 Non-M3 Components of L Date Savings bonds Short-term Treasury securities1 Bankers acceptances2 Commercial paper3 Federal debt Non-Federal debt 1992-SEP. 149.7 324.0 20.7 361.9 3012.9 8584.9 OCT. NOV. DEC. 152.1 154.6 156.6 324.1 326.6 332.5 20.6 20.3 20.6 364.8 369.7 364.3 3015.3 3033.4 3068.4 8610.4 8632.2 8652.7 1993-JAN. FEB. MAR. 158.7 160.8 162.4 338.2 341.4 340.5 20.6 20.0 19.4 361.0 359.4 361.7 3078.7 3090.8 3121.1 8679.1 8690.8 8700.1 APR. MAY JUNE 163.6 164.7 165.9 343.7 345.1 345.9 19.3 19.2 18.5 367.3 371.9 371.0 3149.0 3175.8 3208.1 8718.5 8736.9 8768.0 JULY AUG. SEP. 167.1 168.2 169.2 343.4 342.9 327.3 17.4 16.5 16.4 370.2 379.6 378.0 3227.6 3251.1 3270.4 8805.9 8837.3 8871.5 OCT. NOV. DEC. p 170.1 170.8 171.7 322.0 320.8 328.4 16.4 16.1 16.3 384.3 383.8 386.2 3266.3 3291.2 3327.6 8911.1 8948.3 8989 .2 1. Consists of U.S. Treasury bills and coupons with remaining maturities of l e s s than 12 months held by other than depository institutions, Federal Reserve Banks, money market 2. 3. 4. Net of bankers a c c e p t a n c e s 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 Currency 1 Travelers checks 2 Demand deposits 3 1992-SEP. 284.6 8.5 OCT. NOV. DEC. 286.9 290.0 295.0 1993-JAN. FEB. MAR. Date Nontransactions components Other checkable deposits Overnight RPs' o.gnjgM At commercial banks 4 At thrift institutions5 Total In M26 In M3 only 7 325.9 264.1 100.5 364.6 2503.1 703.3 63.1 17.7 8.4 7.9 7.8 336.4 343.9 355.1 268.4 277.0 284.3 101.7 103.6 104.6 370.1 380.6 388.9 2502.8 2494.9 2480.9 685.9 686.2 670.5 62.1 60.0 59.3 19.9 20.9 21.3 293.5 295.3 297.9 7.8 7.7 7.8 345.9 334.3 336.5 289.4 284.2 286.5 104.4 101.5 103.0 393 . 8 385.7 389.5 2467.3 2461.2 2464.1 654.6 665.2 661.5 60.0 60.7 62.7 17.8 17.0 16.1 APR. MAY JUNE 301.3 304.4 307.4 7.8 7.9 8.2 350.5 352.0 359.6 291.9 287.6 290.6 107.3 106.2 107.5 399.2 393.8 398.0 2456.4 2449.2 2451.2 662.1 671.4 659.9 62.5 61.7 64.8 14.7 13.5 13.7 JULY AUG. SEP. 311.0 312.8 314.8 8.4 8.4 8.2 365.9 367.9 373.1 290.9 292.1 295.0 108.5 107.7 108.0 399.3 399.7 403.0 2445.6 2441.1 2435.9 650.3 654.8 651.4 67.7 67.4 70.4 13.5 14.7 14.9 OCT. NOV. DEC. 317.3 319.8 324.9 8.0 7.7 7.6 381.2 391.2 402.7 295.6 299.5 306.2 109.8 111.4 112.4 405.3 410.9 418.6 2433.5 2437.8 2434.5 652.3 660.2 659.1 70.8 71.7 72.5 17.2 17.4 17.6 1994-JAN. 324.0 7.7 393.3 306.8 111.1 417.9 2436.2 653.5 75.7 17.4 325.3 328.3 7.6 7.7 401.7 404.7 306.4 304.7 111.3 109.7 417.6 414.4 2432.7 2417.3 659.1 663.5 71.6 66.1 17.9 17.0 3 10 17 24 31 325.4 324.9 324.2 323.2 322.9 7.7 7.7 7.7 7.7 7.6 417.3 404.2 398.5 381.7 377.7 310.8 318.3 307.8 302.4 295.2 112.8 115.2 112.5 108.4 107.0 423.6 433.4 420.4 410.8 402.2 2427.2 2440.8 2443.8 2435.1 2428.1 643.2 650.7 659.0 652.6 656.5 75.9 74.9 74.4 76.4 77.2 18.2 17.6 16.7 16.9 17.9 7p 14p 327.3 327.4 7.6 7.7 383.3 384.1 303.2 299 .2 112.4 109.6 415.6 408.9 2432.4 2435.7 643.5 641.1 75.6 75.5 16.2 15.1 Week ending 1993-DEC. 20 27 1994-JAN. FEB. 4. institutions, l e s s c a s h i t e m s in t h e p r o c e s s of c o l l e c t i o n a n d F e d e r a l R e s e r v e float. . . . . . , C o n s i s t s of N O W a n d A T S b a l a n c e s at c o m m e r c i a l b a n k s , U . S . b r a n c h e s a n d a g e n c i e s of f o r e i g n b a n k s , a n d E d g e Act c o r p o r a t i o n s . estimat Digitizedefor FRASER e d 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 deposits 1 Date Small-denomination time deposits 2 - purpose and broker/dealer money market funds Institutiononly money market funds Large-denomination time deposits 3 At commercial banks 4 At thrift institutions At commercial banks At thrift institutions Total At commercial banks At thrift institutions Total SEP. 735.9 422.6 1158.5 528.4 384.7 913.0 350.7 214.6 308.8 70.2 378.9 OCT. NOV. DEC. 745.0 752.5 752.9 425.1 428.6 428.1 1170.1 1181.1 1181.1 521.6 512.7 507.8 376.1 368.3 361.2 897.7 881.1 869.0 353.0 351.9 350.2 204.3 207.4 200.4 300.7 296.4 291.7 69.9 68.6 67.2 370.6 365.0 358.9 1993-JAN. FEB. MAR. 750.2 754.0 758.5 427.5 424.7 426.0 1177.7 1178.7 1184.5 504.4 504.7 501.3 356.8 349.0 344.8 861.3 853.6 846.1 350.6 351.2 354.8 200.5 208.4 201.1 282.8 282.5 279.7 66.8 65.7 65.0 349.6 348.2 344.8 APR. MAY JUNE 761.9 767.2 773.6 427.4 428.6 430.9 1189.3 1195.8 1204.5 496.1 490.7 487.1 342.4 339.7 336.0 838.5 830.5 823.0 351.4 347.7 345.2 195.6 199.7 191.0 282.8 285.9 283.0 65.1 65.2 64.8 347.8 351.1 347.8 JULY AUG. SEP. 773.6 776.0 776.7 431.4 430.8 429.7 1205.0 1206.9 1206.4 483.9 479 . 6 476.7 332.5 329.6 326.7 816.4 809.2 803.4 343.0 343.0 340.8 188.6 190.1 187.5 277.3 279.8 277.8 64.4 64.3 64.0 341.8 344.0 341.8 OCT. NOV. DEC. 777.7 784.0 783.8 430.0 430.4 429.3 1207.7 1214.4 1213.2 473.3 468.8 467.6 323.4 319.8 315.4 796.7 788.6 783.0 341.1 345.8 348.3 189.2 194.0 195.8 277.9 276.6 276.4 63.7 63.5 61.4 341.6 340.1 337.8 199 4 - J A N . 786.1 428.0 1214.1 465.7 314.0 779.7 349 .3 196.2 276.6 61.2 337.8 Total 1993-DEC. 20 27 782.1 778.3 429.2 428.1 1211.3 1206.4 467.2 466.8 315.0 314.6 782.2 781.4 349 .7 346.4 196.9 196.2 275.7 274.9 61.3 60.8 337 .0 335.7 1994-JAN. 3 10 17 24 31 779.4 788.7 792.3 784.1 781.3 428.3 429.5 429.4 427.2 425.7 1207.7 1218.3 1221.7 1211.4 1206.9 466.8 466.8 465.7 464.7 464.8 314.4 314.6 314.5 314.0 312.9 781.2 781.4 780.3 778.7 777.7 344.2 348.6 350.7 351.7 348.3 189.4 189.4 197.3 197.7 203.3 276.0 277.7 278.8 277.7 272.8 61.0 61.1 61.2 61.2 61.3 337 .0 338 .9 340.0 339.0 334.1 7p 14p 787.6 790.8 427.6 428.5 1215.2 1219.3 464.9 464.0 312.2 311.6 777.1 775.6 348.2 350.2 193.0 186.6 271.5 273.4 61.4 61.2 332.9 334.6 FEB. 1. 2. 3. 4. S a v i n g s d e p o s i t s include m o n e y market deposit a c c o u n t s . . 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 l e s s 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 c i a l b a n k s a n d thrifts a r e 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 a r e 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 international 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 l e s s 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 official institutions. Digitized for preliminary FRASER p 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 Debt components6 Non-M3 Components of L At commercial banks At thrift institutions Total Term Eurodollars2 1992-SEP. 58.1 19.7 77.8 49.4 OCT. NOV. DEC . 59 . 8 61.5 61.1 20.1 20.3 20.0 79.9 81.8 81.1 19 9 3 - J A N . FEB. MAR. 59.1 60 . 2 63.7 21.0 22.1 22.3 APR. MAY JUNE 65.9 66.6 70.2 JULY AUG. SEP. Short-term Treasury securities3 Bankers acceptances4 149.2 322 .6 20.2 363.2 2993.9 8570.8 48.1 47.2 45.6 151.8 154.4 156.4 323.0 334.4 345.3 20.4 364.7 370.4 366.3 2998.1 3028.3 3069.8 8600.8 8628.5 8652.2 80.1 82.3 86.0 43.5 46.7 49.8 158.6 161.0 162.9 343.9 342.6 344.0 20.2 18.9 367.7 359.1 361.7 3076.2 3087.3 3121.4 8668.1 8669.2 8676.2 22.9 23.2 22.6 88.9 89.8 92.8 48.7 48.7 45.5 164.2 165.2 166.1 335.2 336.8 340.2 18.7 19.1 18.5 369.9 366.8 369.7 3142.9 3161.1 3188.9 8697.3 8720.7 8753.8 72.7 71.9 71.1 23.7 24.2 24.5 96.4 96.0 95.6 41.9 44.1 45.2 167.0 167.8 168.7 338.9 341.6 325.3 17.4 15.9 367.1 374.7 379.8 3201.8 3229.4 3251.9 8792.4 8822.3 8858.2 OCT. NOV. DEC. 70.2 69.4 70.3 24.0 24.7 25.0 94.3 94.0 95.4 45.0 48.7 45.8 169.6 170.6 171.4 320 . 328 . 341. 16.2 16.5 17.0 p 384.7 385.3 388.7 p 3249.4 3287.0 3329.5 p 8901.0 8942.8 8987.8 p 1994-JAN. 65.5 25.2 90.7 44.1 69.8 74.9 24.8 25.3 94.7 100.1 46.4 46.9 3 10 17 24 31 66.6 66.4 64.2 64.7 24.8 25.4 25.5 25.3 24.9 91.3 91.9 91.6 89.5 89.6 41.5 45.8 45.0 42 . 1 44.5 7p 14p 61.2 63.0 25.0 25.1 86.2 88.1 46.7 46.8 Week e n d i n g 199 3-DEC. 2 0 27 1994-JAN. FEB. 1. 2. 3. 4. 5. 6„ 66.2 Savings bonds 20.8 21.4 21.4 16.2 Commercial paper5 Federal debt Non-Federal debt 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 Page 10 H.6 (508) Table 6 MEMORANDUM ITEMS Billions of dollars, not seasonally adjusted Demand deposits at banks due to Foreign commercial banks Foreign official institutions Time and savings deposits due to foreign banks and official institutions 1992-SEP. 8.5 l , .7 7. .8 5. .4 10, .6 OCT. NOV. DEC. 8.5 8.4 9.0 l , .7 l , .6 l , .6 8. . 1 8. .9 9. .6 4. . 1 4. . 1 5. ,2 1993-JAN. FEB. MAR. 8.7 8.7 8.3 l . .4 i , .5 l , .6 10. . 1 10. .3 10. .5 APR. MAY JUNE 7.8 8.3 8.2 l . .7 l . .6 l . .6 JULY AUG. SEP. 8.5 8.1 8.5 OCT. NOV. DEC. 1994-JAN. e p Total cash balance Time and savings deposits at commercial banks At commercial banks 23. .2 39. ,2 2. .5 147. .6 1 2 6 . ,7 4 3 . .0 317.2 5,.8 5,.5 6,.0 17. .7 12. .4 14. .3 27. .6 21. .9 25. .5 2. .5 2. .7 2. .6 147. .6 147. .2 147. .2 1 2 6 . ,2 1 2 5 . ,6 1 2 4 . .9 4 4 . .6 4 6 . .2 4 5 . .4 318.4 318.9 317.4 6. , 1 4. ,3 4. .2 7, .7 5,.9 5..4 27. .0 25. .2 13. .2 40. .8 35. .4 22. .8 2. .0 2. .5 2. .4 147. .2 146. .9 147. .7 1 2 3 . .7 1 2 2 . .6 1 2 1 . .2 4 4 . .6 4 5 . .6 45. .6 315.6 315.1 314.4 10. .8 11. . 1 11. .5 5. .8 4. ,2 5. .4 6..2 5,.8 8,. 1 14. .5 16. . 1 21. . 1 26. .5 26. . 1 34. .6 1..5 2. .6 3. .0 148. .0 146. .9 146. .5 1 1 9 . .8 1 1 9 . .1 1 1 8 . .5 45. . 1 46. .0 46. .7 313.0 312.0 311.7 l , .7 l . .6 l . .5 11. .5 11, . 1 1 0 . .8 4. .2 3. ,8 5. .5 6..9 5,.7 9..3 21, .4 20. .0 23. .2 32. .5 29. .5 37. .9 2. .8 3. . 1 2. .8 146. .4 146. . 1 145. .8 1 1 7 . .7 e 1 1 6 . .5 e 1 1 5 . .6 e 47. .3 47. .4 47. .5 311.4 e 309.9 e 308.8 e l . .6 l . .8 l . .6 1 0 . ,6 1 0 . .6 1 0 . .6 4. .5 4. .0 5. .2 5,.9 5,.6 6,.7 12. .6 8, .8 16, .2 23. . 1 18. .4 28. . 1 2. .7 2. .7 2. .6 145. .2 144. .6 144. .2 1 1 5 . .8 e 116. .2 e 1 1 5 . .6 e 47. .6 e 48. .3 e 48. .7 e 308.6 e 309.1 e 308.5 e 8.6 Week endlncr 1993-DEC. 20 27 FEB. IRA and Keogh Accounts 8.3 8.3 9.2 Date 1994-JAN. U.S. government deposits l . ,6 1 0 . .6 5. .7 7, .3 25. .2 38. .3 2. . 1 143. .9 114. .2 e 49. .0 e 307.1 e 9.3 10.9 l . ,6 l . ,5 1 0 . .6 1 0 . .6 8. .5 4. .0 7, .3 8,. 1 13. .9 27. .5 29. .8 39. .6 2. .6 2. .6 l . ,8 6. .4 4. .3 5. .5 7. .7 4. .7 9 .5 4 .7 4 .9 8 .0 10. .8 32 .6 20. .7 22 .8 20. .4 34. .0 48. .5 29. .7 33. . 1 36, .0 49. .4 2. .3 0..9 2. .5 2. .5 2. .5 10. 6 4. .7 3.6 9,.7 5.3 33. .6 30.8 48, .0 39.7 2. .5 2.6 3 10 17 24 31 8.7 8.9 8.6 8.7 8.1 l. 6 l. 7 l. 5 10. 6 1 0 . .6 10. 6 10. 6 10. 6 7p 14p 8.7 7.6 l. 6 1.5 10.6 estimated preliminary l . ,7 Demand deposits at commercial banks Balance at Federal Reserve Note balances at depository institutions At thrift institutions At money market funds Total
