Full text of H.6 Money Stock Measures : February 24, 2000
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FEDERAL RESERVE statistical release H.6 (508) Table 1 MONEY STOCK AND DEBT MEASURES For release at 4:30 p.m. Eastern Time Billions of dollars Date February 24, 2000 M 11 M22 M33 DEBT4 Seasonally adjusted 19 98- Feb. Mar. Apr . May June July Aug. Sep. Oct. Nov. Dec. 1076.1 1080.3 1081.7 1076.5 1077.9 1076.9 1073.1 1078.2 1084.7 1093.7 1097.4 4098.7 4128.6 4152.9 4175.0 4200.3 4218.9 4243.0 4285.8 4327.3 4364.3 4397.0 5487.5 5557.0 5594.7 5638.3 5682.6 5703.6 5762.2 5824.4 5887.8 5945.2 5997.0 15395.5 15493.8 15581.4 15 661. 3 15746.7 15832.7 15915.2 15992.6 16077.2 16170.4 16250.4 1 9 9 9 - Jan. Feb. Mar. Apr . May June July Aug. Sep. Oct. Nov. Dec. 1096.0 1094.3 1101.4 1107.2 1 1 0 1 .8 1 1 0 0 .2 1099.4 1098.3 1095.5 1 1 0 1 .2 1 1 1 0 .2 1125.4 4422.4 4447.7 4463.5 4490.4 4513.1 4531.0 4553.6 4572.9 4594.1 4612.1 4632.2 4661.2 6028.8 6078.0 6087.8 6123.8 6156.3 6187.4 6211.9 6231.6 6260.0 6311.4 6388.1 6471.5 16336.6 16427.2 16542.5 16646.1 16719.5 16795.7 16874.0 16968.1 17067.0 17154.1 17223.2 17323.0 p 2 0 0 0 -Jan. 1121.9 4684.3 6513.7 Not seasonally adjusted 1998-Feb. Mar. Apr . May June July Aug. Sep. Oct. Nov. Dec. 1066.3 1076.0 1087.8 1070.9 1075.3 10 7 4 . 4 1069.5 1070.9 1077.6 1098.2 1121.3 4090.9 4142.1 4184.6 4154.2 4187.3 4208.1 4237.8 4272.8 4311.6 4367.6 4422.2 5491.9 5578.1 5624.0 5622.0 5666.3 5678.9 5747.4 5801.8 5869.9 5955.4 6026.5 15361.5 15474.1 15555.3 15619.4 15702.7 15772.7 15856.5 15940.1 16024.4 16144.0 16247.3 1 9 9 9 - Jan. Feb. Mar. Apr . May June July Aug. Sep. Oct. Nov. Dec. 1104.0 1085.2 1097.4 1113.5 1096.4 1098.4 1097.5 1093.1 1086.6 1095.2 1113.7 1150.0 4433.0 4443.1 4481.3 4528.3 4489.0 4515.3 4539.4 4563.0 4577.8 4597.4 4634.5 4689.4 6043.3 6091.3 6115.7 6160.1 6137.5 6167.8 6178.8 6209.7 6230.3 6290.8 6399.7 6506.6 16 318. 2 16393.0 16522.8 16617.5 16671.9 16746.7 16811.9 16911.1 17017.0 17103.3 17202.1 17323.5 p 2 0 0 0 - Ja n . 1128.6 4694.8 6529.9 Footnotes appear on the following page p preliminary Components may not add to totals due to rounding. Page 2 H.6 (508) Table 2 MONEY STOCK AND DEBT MEASURES Percent change at seasonally adjusted annual rates M2 M3 DEBT1 1999 TO Jan. 2000 7.5 6.3 12.8 6.0 6 Months f r om J u l y 1999 TO Jan. 2000 4.1 5.7 9.7 6.3 2000 2.4 5.9 8.0 6.6 6.9 5.9 12.0 3 Months f r o m O c t . 12 Months f r o m Jan. 1999 TO Jan. T h i r t e e n weeks e n d i n g F e br u a r y 14 , 2000 f rom t h i r t e e n weeks e n d i n g : Nov. 15, 1999 (13 weeks p r e v i o u s ) 1. M1 Aug. 16, 1999 (26 weeks p r e v i o u s ) 3.4 5.6 9.1 Feb. 15, 1999 (52 weeks p r e v i o u s ) 2.1 5.9 7.8 Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, September 1999 to December 1999, June 1999 to December 1999, and December 1998 to December 1999, respectively._________________________________________________________________________________________________________________ Footnotes to Table 1: 1. 2. 3. 4. 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 Resen/e 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. Excludes individual retirement account (IRA) and Keogh balances at depository institutions and money market funds. Seasonally adjusted M2 is computed by summing savings deposits, small-denomination time deposits, and retail money fund balances, each seasonally adjusted separately, and adding this result to seasonally adjusted M1. Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more), balances in institutional money funds, 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. Debt: The debt aggregate is the outstanding credit market debt of the domestic nonfinancial sectors — the federal sector (U.S. government, not including governmentsponsored enterprises or federally related mortgage pools) and the nonfederal sectors (state and local governments, households and nonprofit organizations, nonfinancial corporate and nonfarm noncorporate businesses, and farms). Nonfederal debt consists of mortgages, tax-exempt and corporate bonds, consumer credit, bank loans, commercial paper, and other loans. The data, which are derived from the Federal Reserve Board’s flow of funds accounts, are break-adjusted (that is, discontinuities in the data have been smoothed into the series) and month-averaged (that is, the data have been derived by averaging adjacent month-end levels). The presentation of the debt data in this release differ, therefore, from the quarterly flow of funds statistics contained in the Federal Reserve releases Z.7 and Z.1. In those releases, published levels of credit market debt are measured on a quarter-end basis and contain discontinuities. Note: Current and historical H.6 data are available each week on the Federal Reserve Board's web site (http://www.federalreserve.gov/). Monthly data are available back to January 1959, and weekly data are available back to January 1975 for most series. For information about individual copies or subscriptions, contact Publications Services at the Federal Reserve Board (phone 202-452-3245, fax 202-728-5886). For paid electronic access to current and historical data, call STAT-USA at 1-800-782-8872 or 202-482-1986. Page 3 H.6 (508) Table 3 MONEY STOCK MEASURES Billions of dollars Seasonally adjusted M1 Period ending M2 M3 13-week average 4-week average week average 13-week average 4-week average week average 13-week average 4-week average week average 1999- No v. 22 29 1100.9 1102.1 1109.1 11 0 9 . 9 11 1 3 . 1 11 10 . 5 46 0 7 . 7 4612.2 4627.3 4631.8 4637.7 46 3 8 . 0 6306.2 6318.1 63 74. 4 6 3 88 . 8 6400.6 6396.4 Dec. 6 13 20 27 1103.4 1104.8 1106.8 1110.2 11 1 1 . 5 1112.1 11 1 4 . 6 1 1 21 . 4 1 1 12. 5 1112. 4 11 22 . 8 1137. 7 4616.8 4622.0 4627.4 4632.6 4637.0 4643.0 46 5 0 . 3 4658.1 4642.9 46 5 3 . 4 46 6 6 . 8 46 6 9 . 4 6331.1 6346.5 6363.3 6381.0 6 3 98 . 9 6415.1 6 4 35 . 2 6 4 62 . 0 64 0 8 . 7 6454.6 6480.9 6503.6 3 10 17 24 31 1114.0 1115.6 1117.2 1118.6 1119.3 1130.8 1132.3 11 3 1 . 8 11 2 7 . 6 11 1 8 . 8 11 50. 3 1118 . 5 1 1 20 . 6 11 20 . 8 11 15 . 4 4637.9 4643.5 4648.9 4654.6 4659.9 4666.4 4673.2 4677.1 4682.7 4685.7 4675.9 4680.7 4682.2 4692.0 4687.8 6399.6 6414.7 6429.8 6445.1 6459.8 6 4 90 . 2 65 0 0 . 6 6507.1 65 1 1 . 2 65 13 . 3 6521.5 6496.3 6507.1 6519.9 6529.7 7p 14p 1119.3 1118.7 1115.9 1111.2 11 06 . 7 11 01 . 8 4665.7 4670.2 4690.1 4691.3 4698.4 4686.9 6472.1 6482.3 65 2 1 . 3 65 2 5 . 1 6528.4 6522.2 2000-Jan. Feb. Not seasonally adjusted 1999- Nov. 22 29 1095.1 10 9 8 . 2 1 1 08 . 4 11 1 2 . 3 1112 . 6 11 2 7 . 1 4595.4 4602.3 4625.2 4633.3 4630.1 4630.7 6287.8 6304.3 63 75 . 5 63 99 . 7 6405.8 6410.7 Dec. 6 13 20 27 11 0 0 . 6 11 0 3 . 6 1108.3 1115.6 1 1 17 . 4 11 2 1 . 3 11 3 0 . 2 1142.0 1121 . 2 1124. 3 1148. 3 11 74. 0 4608.2 4614.3 4622.9 4634.7 46 4 4 . 4 4654.2 4670.2 46 8 5 . 4 4675.3 46 8 0 . 7 4694.1 4691.4 6321.3 6340.0 6361.6 6386.8 64 20 . 7 6 4 45 . 0 6 4 72 . 2 65 00 . 3 6459.0 65 0 4 . 4 6514.5 65 2 3 . 4 20 0 0 - J a n . 3 10 17 24 31 1123.1 1127.0 1129.4 1131.1 1131.0 1161.9 1165.1 1159.2 1143.9 11 2 1 . 2 12 01 . 0 11 37 . 0 11 24 . 9 11 12 . 7 11 10 . 0 4644.7 4653.8 4661.7 4669.1 4673.7 4696.6 4706.8 4710.9 4706.3 4690.7 4720.1 4721.6 4710.4 4673.1 4657.6 6409.7 6429.0 6447.8 6465.7 6480.9 65 21 . 6 65 3 0 . 5 6538.2 65 3 5 . 1 6526.9 6544.1 6540.0 6545.1 6511.2 6511.2 7p 14p 1130.8 1129.4 1111.4 1102.9 1098.1 10 90. 9 4679.3 4683.2 4686.5 4681.8 4704.7 4691.8 6494.5 6505.6 65 29 . 7 6531.6 6551.2 6552.6 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. Components may not add to totals due to rounding. ' Page 4 H.6 (508) Table 4 SEASONALLY ADJUSTED COMPONENTS OF M1 Billions of dollars Other checkable deposits Date Currency1 At commercial banks4 At thrift institutions5 Total 450.0 8.7 37 5 . 7 141. 4 102.5 243.9 Oct. Nov, Dec. 453.8 456.7 459.5 8.6 8.3 8.2 3 7 6. 7 379.1 37 9 . 3 14 1. 8 145. 3 145.1 103.9 104.3 105.2 24 5. 7 249.7 250.3 1 9 9 9 - Jan. Feb. Mar. 463.0 467.4 471.5 8.2 8.1 8.2 374.0 37 1 . 3 371.9 14 7 . 0 14 2. 8 14 4. 2 103.9 10 4. 7 105.6 25 0. 8 24 7. 5 249.8 Apr. May June 475.6 480.0 483.5 8.2 8.3 8.8 371.6 36 6. 1 36 0 . 8 146.1 14 2 . 2 142.0 105.8 105.3 105.1 251.9 247.4 247.2 July Aug. Sep. 487.3 491.2 495.3 9.1 8.9 8.7 360.2 356.6 351.1 138.0 13 6 . 9 13 6 . 5 104.8 104.8 10 3. 9 242.8 241.7 240.4 Oct. Nov. Dec. 499.8 505.5 517.5 8.4 8.2 8.3 353.1 355.7 356.0 1 3 6. 4 13 7 . 6 14 1 . 3 103.5 10 3. 2 102.4 239.9 240.9 243.7 2000-Jan. 52 5. 5 8.2 34 5 . 6 1 4 1. 5 101.2 24 2. 7 516.1 523.1 8.3 8.4 3 5 5. 7 360.1 1 4 0. 5 145.0 102.2 101.2 242.7 246.1 3 10 17 24 31 533.0 530.4 524.7 522.3 520.7 8.5 8.4 8.3 8.2 8.1 359.6 337.1 345.6 348.1 345.1 14 8 . 2 141.2 1 4 0. 6 14 1 . 6 1 4 0. 5 10 1. 2 10 1 . 4 101.5 100.6 101.0 249.3 242.6 242.1 242.3 241.5 7p 14p 520.1 518.1 8.1 e 8.1 e 336.4 336.9 13 7 . 8 135.8 104.3 103.0 242.1 238.8 2000-Jan. Feb. 4. 5. Demand deposits3 1998-Sep. Week endincr 1 9 9 9 - De c . 20 27 1. 2. 3. Travelers checks2 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. e estimated p preliminary Components may not add to totals due to rounding. • • ' # • • • • • • • • H.6 (508) Table 5 SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2 Billions of dollars Small-denomination time deposits2 Savings deposits1 Date At commercial banks Total At commercial banks At thrift institutions Total Retail money funds Total Non-M1 M2 19 9 8 - Se p . 1138.1 40 3. 0 15 41 . 1 6 2 8. 7 331.5 960.3 706.3 3207.6 Oct. Nov. Dec. 11 5 2 . 7 1168.0 1184.8 40 7. 0 410.7 413.8 1559. 7 1578. 7 1598. 6 62 8 . 3 62 8 . 3 62 6. 1 33 0 . 7 327.3 325.6 958.9 955.6 951.7 724.0 736.3 749.4 3242.6 3270.6 3299.6 1 9 9 9 - Jan. Feb. Mar. 1198.6 1212.6 1217.3 419.2 42 6. 0 42 9. 9 1617. 7 1638. 6 16 47. 2 6 2 2. 6 61 8 . 6 61 6 . 9 324.3 322.6 320.4 947.0 941.1 93 7. 3 761.7 773.7 777.6 33 2 6 . 4 33 5 3 . 4 3362.1 Apr. May June 1230.9 1242.4 1252.2 43 1. 5 442.0 44 7. 7 1662. 4 16 84. 3 16 99. 9 616.0 616.2 61 6 . 5 319.3 317.7 31 5. 0 935.2 93 3. 9 931.5 785.5 793.0 799.4 3383.1 3411.3 3430.8 July Aug. Sep. 1264.3 1274.0 1285.8 453.6 455.4 455.4 17 17. 9 1729. 5 1741 . 2 617.6 61 9 . 6 623.1 314.1 314.4 315.2 931.7 933.9 938.3 804.5 811.1 819.1 3454.1 3474.5 3498.6 Oct. Nov. Dec. 1289.7 1288.7 12 8 5 . 2 45 3. 2 45 1. 6 448.8 1742. 9 1740. 4 17 34. 0 62 6 . 4 630.5 634.2 316.3 318.4 320.0 942.6 948.8 954.2 825.4 832.7 84 7. 6 3510.9 3522.0 3535.7 2 0 0 0 - Jan. 1287.5 447.4 1734. 9 638.2 32 2. 2 960.4 86 7. 0 3562.3 1291.2 1276.3 449.7 44 8. 6 17 41. 0 17 25. 0 63 4 . 5 63 5 . 8 320.1 320.7 954.6 956.5 848.4 85 0. 2 3544.0 3531.6 3 10 17 24 31 1264.5 12 8 9 . 9 1290.9 1293.2 12 8 6 . 6 444.6 44 5. 3 446.9 44 9. 8 450.3 17 0 9 . 1 17 35. 2 1737. 8 1743.1 17 36. 9 63 5 . 5 63 6 . 7 63 7 . 8 639.0 64 0 . 3 32 1. 2 32 1. 6 322.2 32 2. 6 322.7 956.7 95 8. 3 96 0. 0 96 1. 6 96 3. 0 85 9. 8 86 8. 6 863.7 86 6. 5 872.6 3525.6 3562.1 3561.5 3571.2 3572.4 7p 14p 13 0 9 . 5 13 0 2 . 3 448.6 448.4 17 5 8 . 1 17 50. 6 64 1 . 3 64 2 . 6 322.7 32 2. 8 96 4. 0 96 5. 5 869.7 869.0 3591.7 3585.1 Week e n d i n a 19 9 9 - De c . 20 27 2 0 0 0 - Jan. Feb. 1. 2. At thrift institutions 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. p preliminary Components may not add to totals due to rounding. Page 6 H.6 (508) Table 6 SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3 AND DEBT Billions of dollars Institutional money funds Date RPs3 At commercial banks2 At thrift institutions Eurodollars4 Total Total Non-M2 M3 Federal Non-Federal 1 9 9 8 - Se p . 472.7 536.5 86.6 62 3. 1 2 8 8. 2 154.6 1538.6 3779.3 12 2 1 3 . 3 Oct. Nov. Dec. 491.7 507.1 518.4 534.6 537.6 539.3 87.7 88.0 88 . 9 6 2 2. 2 6 2 5. 6 62 8. 1 289.1 293.1 30 0. 9 15 7 . 4 15 5 . 0 152.6 1560.5 15 8 0 . 8 1599.9 37 6 7 . 2 37 5 8 . 9 3750.8 12310.1 12 4 1 1 . 5 12 4 9 9 . 6 1999-Jan. Feb. Mar. 523.3 533.2 53 5. 9 541.4 537.8 534.5 90.3 90.0 89.6 63 1. 7 6 2 7. 8 62 4. 1 300. 7 31 5 . 2 30 5. 7 15 0 . 7 154.1 158.7 1 6 06 . 4 16 3 0 . 3 1624.4 37 4 2 . 7 37 2 3 . 7 3723.9 12 5 9 3 . 9 12703.5 12 8 1 8 . 7 Apr. May June 544.4 550.1 55 3. 9 537.1 537.2 535.9 89.4 88.6 88.9 62 6 . 5 625.8 624.8 301.0 305.1 312.9 161.5 162.3 164.8 16 3 3 . 4 1643.3 1656.4 37 1 8 . 6 3702.8 3703.6 12927.5 13016.8 13092.0 July Aug. Sep. 556.1 563.8 566.9 537.7 533.9 540.0 88.7 89.6 89.6 62 6 . 5 623.5 629.6 3 1 2. 8 3 1 3. 4 3 1 3. 5 163.0 158.0 155.8 1658.3 16 5 8 . 7 1665.9 3708.0 3711.0 3698.1 13166.1 13257.0 13 3 6 8 . 9 Oct. Nov. Dec. 577.7 592.1 607.4 565.5 593.5 614.9 89.6 91.1 91.6 655.1 68 4 . 6 706.5 3 1 2. 7 31 8. 7 329.2 153.8 160.5 167.2 1699.3 1756.0 1810.4 3680.1 3656.5 3658.9 p 13 4 7 3 . 9 13 5 6 6 . 7 13664.1 p 2000-Jan. 62 3. 5 621.0 94.4 71 5. 5 3 2 0. 8 169.6 18 2 9 . 4 ending 1 9 9 9 - De c . 20 27 606.5 616.2 61 9. 6 619.7 91.5 91.9 711.2 711.7 32 8 . 3 3 3 7. 7 168.2 168.7 1814.2 1834.2 3 10 17 24 31 637.7 61 6. 2 61 6. 6 622.9 632.7 61 9. 3 623.7 622.5 616.9 62 1. 6 93.3 94.0 94.5 95.1 94.5 71 2. 5 71 7. 8 71 7. 0 71 1. 9 716.2 323.1 31 3. 7 3 1 9. 5 323.1 32 5. 7 172.3 168.0 172.0 170.0 167.4 1845.6 1815.7 1825.0 1828.0 1841.9 7p 14p 614.8 616.4 62 1. 9 62 1. 5 94.7 94.9 716.5 71 6. 4 3 3 4. 9 33 7 . 5 16 3 . 7 165.0 1830.0 1835.3 2000-Jan. Feb. 1. 2. Debt components5 Large-denomination time deposits1 5. 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. 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. 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 3. 4. may not add to totals due to rounding. Digitized forComponents FRASER http://fraser.stlouisfed.org/ • • ' • • Federal Reserve Bank of St. Louis • • • • • ' • • » • # • • • • • • • > • • Page 7 H.6 (508) Table 7 NOT SEASONALLY ADJUSTED COMPONENTS OF M1 Billions of dollars Other checkable deposits Date Currency1 Travelers checks2 Demand deposits3 At commercial banks4 448.4 8.5 37 2. 4 14 0 . 2 101.5 24 1. 6 Oct. Nov. Dec. 452.6 457.5 464.1 8.6 8.4 8. 4 3 7 3. 2 38 3 . 5 39 5 . 9 1 4 0. 4 14 4 . 6 1 4 6. 3 102.8 104.2 106.6 24 3. 2 24 8. 8 252.8 1 9 9 9 - Jan. Feb. Mar. 462.4 466.4 471.2 8. 3 8. 3 8.3 379.2 3 6 4. 3 367.2 14 9 . 3 14 2. 7 14 4 . 8 104.7 103.5 105.9 254.1 246.1 250.7 Apr . May June 475.7 479.7 483.0 8.3 8.3 8.6 37 2. 1 361.6 3 5 9. 4 14 9 . 0 14 1 . 8 14 2. 1 108.4 104.9 105.2 257.4 246.7 24 7. 3 July Aug. Sep. 487.7 490.1 493.2 8.7 8.6 8.5 360.1 355.2 347.1 1 3 6. 7 13 5 . 5 13 5 . 2 104.3 103.6 102.6 241.1 239.1 23 7. 8 Oct. Nov. Dec. 498.9 506.3 523.1 8.4 8.3 8.4 350.5 359.0 37 2 . 0 13 5 . 0 137.0 1 4 2. 4 102.4 10 3. 0 10 4. 0 237.4 240.0 246.4 2 0 0 0 - Jan. 524.2 8.4 350.2 14 3 . 7 102.0 24 5. 7 522.2 53 2. 6 8.4 8.5 3 7 3. 4 382.6 141.2 147.6 103.0 102.6 244.3 250.2 3 10 17 24 31 537.7 531.2 523.5 518.9 516.6 8.6 8.5 8.4 8.4 8.3 394.6 349.5 3 4 8. 7 342.1 34 2 . 5 15 3. 7 144.0 14 2. 1 14 3 . 3 1 4 2. 3 106.4 10 3. 8 102.1 99.9 100.3 260.1 247.8 24 4. 3 24 3. 3 242.6 7p 14p 519.1 518.3 8.3 e 8.3 e 328.6 328.8 137.8 13 4 . 4 104.3 101.1 242.1 235.5 2 0 0 0 - Ja n . Feb. 4. 5. Total 1 9 9 8 - Se p . Week., e n d i n g 1 9 9 9 - De c . 20 27 1. 2. 3. At thrift institutions5 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. e estim ated p preliminary Com ponents may not add to totals due to rounding. I l.V \ s J\ JU J Table 8 NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2 Billions of dollars Small-denomination time deposits2 Savings deposits1 Date At commercial banks Total At commercial banks At thrift institutions Total Retail money funds Total Non-M1 M2 1998-Sep. 1135.4 402.1 1 5 37 . 5 628.1 3 3 1. 2 959.3 705.1 32 0 1 . 9 Oct. Nov. Dec. 1148.2 1 1 67 . 7 1186.0 40 5. 4 410.6 414.2 15 53 . 6 15 78 . 4 16 0 0 . 2 62 9 . 0 62 9. 4 6 2 6. 5 33 1. 1 3 2 7. 9 3 2 5. 8 960.1 957.3 952.3 720.3 733.7 74 8. 3 3234.0 3269.4 3300.9 1 9 9 9 - Jan. Feb. Mar. 1196.8 1205.9 1220.4 418.5 423.6 431.0 16 1 5 . 3 16 2 9 . 5 16 5 1 . 4 624.1 6 2 0. 8 61 8 . 5 325.1 32 3. 7 32 1 . 2 949.2 94 4 . 5 939.7 764.6 78 3. 9 792.8 3329.0 3357.9 3383.9 Apr. May June 1244.9 1238.8 1253.4 436.4 440.7 448.1 1681.2 16 7 9 . 4 1701.5 61 6 . 4 61 4. 4 6 1 3. 4 31 9. 5 3 1 6. 8 313.4 935.9 93 1. 2 926.8 797.6 782.0 78 8. 6 3414.8 3392.6 3416.9 July Aug. Sep. 1265.7 1272.5 1282.0 454.1 454.9 454.1 1719.8 17 2 7 . 4 1736.1 615.8 618.0 622.5 313.2 31 3 . 5 3 1 4. 9 92 9. 0 931.5 937.4 793.1 811.0 817.6 3441.9 3469.9 3491.2 Oct. Nov. Dec. 1285.1 1288.4 1288.0 451.5 451.5 449.8 1736.6 1739.9 1737.8 6 2 7. 4 632.0 63 5 . 0 3 1 6. 8 31 9. 1 3 2 0. 4 94 4. 2 951.2 955.4 821.4 829.7 846.3 3502.2 3520.8 3539.5 2 0 0 0 - Ja n . 1285.7 446.8 1 7 32 . 4 63 9 . 8 32 3 . 0 962.8 870.9 3566.2 1291.6 1268.1 449.9 445.7 17 4 1 . 5 17 1 3 . 8 63 5 . 0 635.8 32 0. 4 32 0. 7 95 5 . 4 956.4 849.0 847.1 3545.9 3517.4 3 10 17 24 31 1266.4 1306.5 1299.8 1277.3 1261.7 445.3 451.0 450.0 444.3 441.6 17 1 1 . 6 17 5 7 . 4 1 7 49 . 7 1721.6 1 7 03 . 4 6 3 6. 3 6 3 8. 3 639.5 6 4 0. 7 642.2 321.6 3 2 2. 4 323.0 3 2 3. 4 32 3. 7 957.8 960.6 962.5 964.1 965.9 849.5 866.6 873.2 87 4 . 7 878.3 3519.0 3584.7 3585.5 3560.4 3547.6 7p 14p 1309.9 1301.9 448.7 448.2 17 5 8 . 6 1750.2 6 4 3. 7 645.3 323.9 324.1 967.7 969.4 880.3 88 1 . 4 3606.6 3601.0 Hfif k..M <U n a 1 9 9 9 - De c . 20 27 20 0 0 - Ja n . Feb. 1. 2. At thrift institutions 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. p preliminary Components may not add to totals due to rounding. • • ' # • • • • • • • • • • . ♦ • • t • t • Page 9 H.6 (508) Table 9 NOT SEASONALLY ADJUSTED COMPONENTS OF N0N-M2 M3 AND DEBT Billions of dollars Date Institutional money funds Large-denomination time deposits1 RPs3 Eurodollars4 At commercial banks2 At thrift institutions Total At commercial banks At thrift institutions Total Non-Federal 15 2 9 . 0 3743. 4 12196. 7 156.2 154.9 154.5 1 5 58 . 3 15 8 7 . 8 16 04 . 3 3727. 8 3746. 6 3754. 9 12296. 6 12397. 5 12492. 3 300.9 316.7 307.7 15 2 . 4 155.9 158.4 1 6 10 . 3 16 48 . 3 1 6 34 . 4 3 7 36. 6 3721. 8 3 7 41. 2 12581. 6 12 671. 1 12781. 6 56.3 58.1 59.9 300.2 309.1 313.9 161.3 163.9 164.7 16 3 1 . 8 1 6 48 . 4 16 5 2 . 5 3 7 17 . 1 3674. 2 3662. 8 12900. 4 12997. 7 13083. 9 248.6 249.3 246.9 62.2 63.6 65.8 310.8 312.9 312.7 160.9 156.9 154.3 1 6 39 . 4 1646.7 1652.5 3 6 52. 2 3665 . 8 3655 . 8 13159. 8 13245. 3 1336 1. 1 660.1 688.1 7 0 4. 4 244.4 256.7 261.2 65.6 64.6 63.4 310.1 321.3 324.6 152.4 160.7 169.3 1693.5 1765.2 1817.2 36 35. 4 3641. 4 36 62 . 5 p 13467. 9 13560. 7 13661. 0 p 93.1 70 5. 1 256.8 64.2 321.0 170.8 1835.1 618.7 615.2 91 . 4 91.3 710.1 706.5 259.4 265.0 63.3 63.3 32 2 . 8 328.3 168.6 170.2 1820.3 1832.0 633.4 628.2 63 3. 5 643.4 649.7 608.8 615.0 615.0 606.4 613.1 91 . 7 92 . 7 93.3 93.4 93.2 700.5 707.7 708.3 69 9. 9 7 0 6. 4 252.2 249.4 256.4 259.1 264.2 63.1 63.8 64.3 64.9 64.4 315.3 313.2 32 0 . 6 324.0 328.6 174.9 169.2 172.4 170.8 169.0 1824.1 1818.4 1834.8 1838.1 1853.6 63 5. 0 639.5 616.2 618.4 93.8 94 . 5 710.0 712.8 274.1 278.2 64.0 63 . 6 338.1 341.8 163.5 166.6 1846.6 1860.7 462.7 538.4 86 . 9 625. 3 239.1 48.7 287.9 153.1 Oct. Nov. Dec. 48 6. 9 508.9 52 7 . 9 539.3 540.6 53 7. 8 88 . 4 88 . 5 88.6 627. 7 629.1 626. 4 24 2. 6 25 0. 6 24 8. 6 44.8 44.3 46.9 2 8 7. 4 295.0 295.5 1 9 9 9 - Jan. Feb. Mar. 534.8 552.4 544.1 53 3. 2 533.9 53 4. 6 89 . 0 89.3 89 . 6 622. 2 623. 3 62 4. 3 25 2. 9 265.7 25 2. 9 48.0 51.0 54.7 Apr . May June 544.2 545.3 547.6 536.7 541.0 537.1 89. 4 89.2 89.1 626.1 63 0. 2 62 6. 2 243.9 251.0 254.1 July Aug. Sep. 540.5 555 . 0 553.2 .538.4 532.6 542.3 88.8 89 . 4 90.0 62 7. 2 62 2. 0 63 2. 3 Oct. Nov. Dec. 570.9 595.1 618.9 569.8 596.6 613.0 90.3 91.6 91.3 2 0 0 0 - Ja n . 638.2 612.1 618.9 626.9 3 10 17 24 31 7p 14p 2 0 0 0 - Ja n . Feb. Debt components5 Federal 1 9 9 8 - Se p . Week endincr 1 9 9 9 - De c . 20 27 Total Non-M2 M3 1. Large-denom ination time deposits are those issued in amounts of $ 1 0 0 ,0 0 0 or more, excluding those booked at international banking facilities. Large-denomjnation time deposits at com m ercial banks less those held by m oney market mutual funds, depository institutions, U .S. government, and foreian banks and official institutions. » » » y 3. 4. O vernjght and term RPs of $ 1 0 0 ,0 0 0 or m ore issued by depository institutions, excluding those held by depository institutions and by m oney funds O vernight 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 C anada excluding those held by depository institutions and by money funds. y ’ Debt data are on a monthly average basis, derived by averaging adjacent end-of-m onth levels, and have been adjusted to rem ove discontinuities. 5. p preliminary Components m ay not add to totals due to rounding. Page 10 H.6 (508) Table 10 MEMORANDUM ITEMS Billions of dollars, not seasonally adjusted Foreign commercial banks Foreign official institutions Time and savings deposits due to foreign banks and official 1 9 98 - Sa p. 9.6 2.0 Oct. Nov. Dec. 9.4 9.2 8.9 1 9 9 9 - Jan. Feb. Mar. Demand deposits at banks due to U.S. government deposits Time and savings deposits at commercial Demand deposits at commercial banks Balance at Federal Reserve Note balances at depository institutions1 15. 2 2.7 6.3 20. 4 29. 4 3.5 151. 4 2.1 1.9 1.9 15. 5 16. 5 17. 5 1. 4 1.3 1.7 5. 4 5.1 5.9 19. 3 18. 7 24. 4 26.1 25.1 32. 0 3. 7 4.1 4.5 8.8 8. 7 8.7 1.8 1.8 1.7 18. 2 18. 6 19.1 2.9 1. 4 1. 5 6.6 4.8 5. 5 30. 8 6. 9 12 . 1 40.2 13. 0 19.1 Apr. May June 8.6 8.5 8.3 1.6 1.6 1.6 19. 1 18. 6 18 . 1 4.6 1. 4 2.6 6. 4 5. 4 5. 9 16. 5 28. 4 24. 0 July Aug. Sep. 8.1 7.9 7.6 1.6 1.4 1.3 18. 7 20 . 6 22. 4 1. 3 1. 3 2.5 5. 2 5.1 6. 4 Oct. Nov. Dec. 7. 4 7. 4 7.4 1.2 1.2 1.2 23. 3 23. 3 23. 3 1. 4 1. 2 1. 5 2000-Jan. 7.4 1.1 23 . 3 Date At money market funds Total 98. 4 110. 9 360. 7 151. 5 151. 5 151. 5 98. 4 97. 9 97. 4 113. 6 115. 5 117. 3 363. 6 364. 8 36 6. 1 4.6 4.3 4.0 151. 5 151. 6 151. 7 97. 0 96. 8 96. 5 119. 2 121. 0 122. 8 367. 7 369. 3 371. 0 27. 5 35. 3 32. 5 3.9 4.0 4.0 151. 6 151. 3 151. 1 96. 4 96. 3 96. 3 124. 3 125. 4 126. 5 372. 3 3 73. 1 373. 8 27. 2 9. 2 29. 3 33. 7 15. 6 38. 2 4.1 4.3 4.5 150. 7 150. 1 149. 6 96. 2 96 . 1 96 . 0 127. 8 e 129. 5 e 13 1. 2 e 374. 7 e 375. 7 e 376. 8 e 5.2 5.1 8. 3 28. 6 8. 0 39. 0 35. 2 14. 3 48 . 8 4.6 4.6 4.6 14 9. 1 e 148. 7 e 148. 4 e 95 . 9 e 95 . 8 e 95 . 7 e 132. 9 e 134. 6 e 136. 3 e 377. 9 e 37 9. 1 e 380. 3 e 2.9 8.1 52. 5 63. 5 4.6 148. 0 e 95.6 e 13 7. 9 e 381. 6 e 2.0 1. 4 6.6 7.1 47. 8 79 . 8 56. 3 88. 2 3 10 17 24 31 1. 8 1. 8 3.1 5. 3 1. 7 24. 5 6.9 5. 3 6. 7 6. 7 60. 1 59. 2 39. 5 49. 5 61. 8 86. 5 67. 8 47. 8 61. 6 70 . 2 7p 14p 1. 2 1. 3 5.3 5. 3 31. 4 17. 7 37. 9 24. 3 Week e n d i n a 19 9 9 - De c . 20 27 2 0 0 0 - Ja n . Feb. _ , T°teJ u c,ash balance IRA and Keogh Accounts 1. Source: Daily Treasury statement, e estimated p preliminary Components may not add to totals due to rounding. At commercial banks At thrift institutions
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