Full text of H.6 Money Stock Measures : February 28, 1985

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

FEBBUA6Y 28, 1985

Billions of dollars
M1
Sum of currency,
travelers checks,
demand deposits and
other checkable deposits1

Date

-1*2
M1 plus overnight RPs
and Eurodollars,
MMMF balances (gen. pur.
and broker/dealer), MMDAs,
and savings and small
time deposits2

M3
M2 plus
large time deposits,
term RPs, term Eurodollars
and institution-only
MMMF balances3

L

Debt

M3 plus other
liquid assets4

Debt of domestic
nonfinancial sectors'1

Seasonally adjusted

1984—JAM.
FEE.
BAB.
APB.
BAY
JURE
JULI
AOG.
SEPT.
OCT.
NOV.
DEC.

531.4
534.2
537.3
539.2
542.5
547.3
546.9
548.9
551.5
548.4
553.9
558.7

2202.2
2216.9
2229.1
2241.1
2255.2
2269.3
2280.2
2292.8
2308.2
2318.7
2345.8
2371.6

2719.3
2741.7
2765.4
2788.0
2815.2
2839.0
2862.1
2879.0
2901.3
2925.4
2960.1
2995.4

1985—JAM.

562.9

2399.4

3027.1

3196.6
3227.8
3269.2
3295.8
3329.3
3370.5
3406.0
3433.6
3462.9

5284.4
5343.3
5358.3
5457.7
5518.8
5575.0
5634.8
5651.9
5740.7
5757.b
5868.4
5937.3

3204.9
3226.0
3275.2
3306.8
3323.8
3370.2
3405.8
3426.3
3450.4

5277.2
5324.4
5374.3
5431.7
5493.4
5552.3
5613.6
5674.0
5728.3
5767.1
5856.4

Not seasonally adjusted
1984—JAM.
FEB.
BAB.
APB.
BAI
JUME
JOLT
AUG.
SEPT.
OCT.
MOV.
DEC.

536.8
523.9
530.4
545.6
537.3
547.9
549.9
545.0
548.6
548.3
556. 1
570.7

2206.7
2208.9
2228.5
2252.2
2251.3
2272.3
2285.7
2287.6
2298.7
2316.1
2344.0
2376.6

2723.2
2734.6
2766.4
2798.9
2812.8
2840.5
2863.7
2875.0
2691.3
2921.0
2960.5
3002.6

1985—JAM.

568.5

2404.6

3030.8

5931.4

M1
nor period snd9d
13-week average

1985-JAM.

FEB.

MOTE:

7

Seasonally adjusted
4-week average

Wl

rage

13-week average

Not seasonally adjusted
4-week average

week average

4
21
28

554.9
555.8
557.0
558. 1

561.0
561.9
562.4
562.5

56 2. 4
560. 4
563. 6
563. 7

561.2
562.7
564.4
565.2

577. 2
579. 3
578. 0
570. 5

591. 0
576. 1
565.7
549.3

4
11 P
18 P

559.2
560.4
561.5

563.3
565.1
566.5

565. 3
567. 6
569. 3

565.6
565.9
565.8

562. 9
559. 2
557. 5

560.4
561.3
558.8

SPECIAL CAOTIOM SBOOLD BE TAKEI IV IMTERPBETIMG IEEK-TO-IEBK CHAMGES II HOME! SOPPLT DATA, WHICH ARE
HIGHLY VOLATILE AID SUBJECT TO BETISIOI.
P—INDICATES PBELIHINABI DATA.
FOOTMOTES APPEAR OI THE FOLLOfllG PAGE




H.6 (508)
Table 2

MONEY STOCK, LIQUID ASSETS AND DEBT MEASURES
Rarcant changt at aaaaonally adjusted annual ratas

M1

M2

M3

(febt1

3 MONTHS FBOH OCT.

1 9 8 4 TO JAN.

1985

10.6

13.9

13*9

13.?

6 SOUTHS FBOM JULY

1 9 8 4 TO JAN.

1985

5.9

10.5

11.5

13.0

12 MONTHS FBOH JAN.

1 9 8 4 TO JAN.

1985

5.9

11.3

13.7

9.0

THIRTEEN WEEKS ENDING FSB. 1 8 , 1985
FBOH THIBTEBN IEBKS ENDING:

1/

1/

2/

3/

4/
5/




NOV.

19,

1984

( 1 3 NBJBKS

PIEflOOS)

8.0

AUG.

20,

1984

( 2 6 BBEKS

MBVIOUS)

5.3

FEB.

20,

1984

( 5 2 KEEKS PBBVIOOS)

5.9

GROWTH BATES FOB DEBT ABB BASED ON PERIODS BEGINNING AND ENDING ONE HONTH EABLIEB THAN FOB THE HONETABY AGGREGATES,
NAMELY, SEPTEMBER 1984 TO DBCEHBBB 1984, JOKE 1984 TO DECEMBER 1984, AND DECEHBEB 1983 TO DBCBMBBB 1984, RESPECTIVELY.
FOOTNOTES TO TABLE 1
CONSISTS OF (1) CUBBENCI OOTSIDE THE TREASURY, FEDEBAL BESEBVE BANKS, AND THE VAULTS OF COMBBBCIAL BANKS;
(2) TRAVELERS CHECKS OF NONBANK ISSUERS; (3) DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHBB THAN tHOSI DUB TO
DOMESTIC BANKS, THE U.S. GOVEBNMENT, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITBHS IN TBB PBOCESS
OF COLLECTION AND FEDEBAL RESERVE FLOAT; AND (4) OTHER CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE OfiDEB
OF WITHDRAWAL (NON) AND AUTOMATIC TRANSFER SERVICE (ATS) ACCOUNTS AT DEPOSITOR* INSTITUTIONS,
CREDIT UNION SHARE DBAFT ACCOUNTS AND DEMAND DEPOSITS AT THBIFT INSTITUTIONS. THE CUBBBNCX AND DEMAND
DEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AND DEMAND DEPOSITS, BBSPBCTIVBLY, HELD BY
THRIFT INSTITUTIONS TO SEBVICE THEIB OCD LIABILITIES.
CONSISTS OF Hi PLUS OVERNIGHT (AND CONTINUING CONTBACT) BPS ISSUED BY ALL COMMEBCIAL BANKS AND OVERNIGHT BOBODOLLABS
ISSUED TO U.S. B6SIDENTS BY FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE, HHCAS, SAVINGS AND SMALL DENOMINATION
TIME DEPOSITS (TIME DEPOSITS-*-INCLUDING BETAIL BPS—IN AMOUNTS OF LESS THAN $100,000), AND BALANCES IN BOTH
TAXABLE AND TAX-EXEMPT GENEBAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUNDS. EXCLUDES IBA AND KEOGfl
BALANCES AT DEPOSITOBY INSTITUTIONS AND MONEY MARKET FUNDS. ALSO EXCLUDES ALL BALANCES HELD BY U.S. CCBHSBCIAL
BANKS, HONEY MABKST FUNDS (GENERAL PURPOSE AMD BROKER/DEALER), FOREIGN GOVERNMENTS AND COMMERCIAL BANKS, ABD
THE U.S. GOVEBNMENT. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THB ESTIMATED AMOONT
OF DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS.
CONSISTS OF H2 PLUS LARGE DENOMINATION TIME DEPOSITS (IN AMOUNTS OF $100,000 OR MORE) AND TBRM BP LIABILITIES ISSUED
BY COMMERCIAL BANKS AND THRIFT INSTITUTIONS, TERM EURODOLLARS HELD BY U.S. RESIDENTS AT FOREIGN BBANCBES OF U.S. EANKS
WORLDWIDE AND AT ALL BANKING OFFICES IN THB UNITED KINGDOM AND CANADA, AKD BALANCES IN BOTH TAXABLE AND TAX-EXEMPT
INSTITUTION-ONLY MONEY MARKET MUTUAL FUNDS. EXCLUDES AMOUNTS HELD BY DEPOSITORY INSTITUTIONS, THE U.S. GOVEBNMENT, HONEY
MARKET FUNDS, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT BEPBESENTS
THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY INSTITUTION-ONLY HONEY MARKET MUTUAL F01DS.
CONSISTS OF M3 PLUS THB NOKBANK PUBLIC HOLDINGS OF U.S. SAVINGS BONDS, SHORT-TERM TREASURY SECURITIES, COMMEBCIAL
PAPER AND BANKERS ACCEPTANCES, NET OF MONEY MARKET MUTUAL FUND HOLDINGS CF THESE ASSETS.
DEBT OF DOMESTIC NONFINANCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MARKET DEBT OF THB UNITED STATES GOVERNMENT,
STATE AND LOCAL GOVERNMENTS AND PRIVATE NONFINANCIAL SECTORS. PRIVATE DEBT CONSISTS OF CORPOBATE BONES, MOBTGAGES,
CONSUMER CREDIT (INCLUDING BANK LOANS), OTHER BANK LOANS, COMMEBCIAL PAPER, EANKERS ACCEPTANCES AND OTHER DE£T
INSTRUMENTS. THE DATA ARE DERIVED FROM THE FEDERAL RESERVE BOARD'S FLOW CF FUNDS ACCOUNTS. ALL DATA CN DEBT OF DOMESTIC
NONFINANCIAL SECTORS ARE PRESENTED IN MONTH-AVER AGE FORM, DERIVED BY AVERAGING MONTH-END LEVELS OF ADJACENT MONTHS. THE
DATA HAVE ALSO BEEN ADJUSTED TO REMOVE STATISTICAL DISCONTINUITIES THAT HAY ARISE IN THE UNDERLYING F1OH OF FUNDS STATISTICS.
THE PRESENTATION OF DEBT DATA IN THIS RELEASE DIFFERS, THEREFORE, FROM THE QUARTERLY FLOW OF FUNDS STATISTICS CONTAINED IN
IN THE FEDERAL RESERVE RELEASES Z.7 AND Z.I. IN THOSE RELEASES, PUBLISHED LEVELS OF CREDIT MARKET DEBT ABB MEASURED ON A
A QUARTER-END BASIS AND INCLUDE DISCONTINUITIES.

I OP THE MONEY STOCK
3

•MHons of QONSJS*
Othsr

Oats

Cwfwtey1

Tvavststs

Demand
tfapostts*

"oMnvonsnts"
In l a
on**
mm

Savings deposits
st
at
oofnfuswctal

Small tuns dsaostts*

at
total

at
thrift

total

banks

banks

U n j fs tkns dsooshV
st
thrift
total
banks" Institutions

at

1984-JAN.
FEB.
MAR.

149.4
150.2
151.2

4.9
5.0
5.0

244.3
245.2
245.5

132.7
133.8
135.6

1670.8
1682.7
1691.8

517.2
524.8
536.4

131.9
, 131.2
130. 1

173.1
172.6
172.8

305. 1
303.8
302.9

352.7
354.2
356.5

437.5
442.0
445.7

790.3
796.2
802.3

229.4
231.1
233.9

106.7
111.9
115.8

336. 1

APR.
HAY
JUNE

152.1
152.8
154.3

5.1
5.1
5.1

245.9
246.3
248.9

136.1
138.3
139.0

1701.8
1712.8
1722.0

546.9
560.0
569^6

129.3
128.8
128.7

172.6
172.7
172. 1

301.9
301.5
300.8

361.2
366.2
371.0

450.0
456.4
463.0

811.2
822.6
834.0

237.6
245.2
249.4

120. 1
124.6
130.1

357.7
369.8
379.5

JULY
AUG.
SEPT.

155.0
155.9
156.8

5.2
5.2
5.1

247.3
246.8
247.5

139.4
141.0
142.2

1733.3
1743.9
1756.7

581.9
586.2
593.1

i 128.1 171.0
169.4
127.0
; 126.1 168,4

299. 1
296.4
294.5

374.7
378.8
381.7

468.9
476.2
482.6

843.7
855.0
664.4

254.6
255.0
258.0

134.6
137.6
138* 1

389.3
392.6
396.2

OCT.
NOV.
DEC.

157.1
157.9
158.7

5.0
5.1
5.2

244.5
246.8
248.6

141.9
144.1
146.2

1770.3
1791.9
1812.8

606.7
614.2
623.9

124.9
123.8
122.6

167.5
166.6
16 5.6

292.4
290.4
288.2

383.1
384.5
387.0

489.0
493.4
498.1

872.1
877.9
885.1

263.2
263.7
264.4

142.5
147.6
152.4

405.7
411.3
416.7

159.4

5.3

249.1

149.2

1836.4

627.7

121.6

166.6

288.2

384.3

497.4

881.7

262.2

155.0

417.2

1985-JAR.

343.0
349.7

WEEK ENDING
1985
JAM.

FEB.

7
14
21
28

159.1
159.0
159.4
159.8

249.7
247.1
249.0
249.5

148.3
149.1
149.9
149.1

122.2
121.8
121.4
121.3

386.4
385.0
383.9
382.9

262.9
263.6
261.8
260.6

4
11 P
18 P

159.8
160.3
160.4

250.0
249.9
251.9

150.1
152.1
151.8

121.6
121.7
121.5

382.3
381.8
381.0

260.6
263.7
264.5

1/

CURRENCY OUTSIDE THE O.S. TREASURY, FEDERAL RESERVE BANKS AND VAULTS OF COMMERCIAL BANKS. EXCLUDES THE ESTIMATED
AMOUNT OF VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
2/ OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS CF NONBANK ISSUERS. TRAVELERS CHECKS ISSUED BY DEPOSITORY
INSTITUTIONS ARE INCLUDED IN DEMAND DEPOSITS.
3/ DEMAND DEPOSITS AT COHHBBCIAL BANKS AND FOREIGN RELATED INSTITUTIONS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS ANO OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND FEDERAL RESERVE FLOAT.
EXCLUDES TBE BSTIMATED AMOUNT OF DEMAND DEPOSITS HELD AT COMMERCIAL BANKS BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD
LIABILITIES.
4/ CONSISTS OF NOM AND ATS BALANCES AT AIL DEPOSITORY INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND
DEMAND DEPOSITS AT THRIFT INSTITUTIONS. OTHER CHECKABLE DEPOSITS SEASONALLY ADJUSTED EQUALS THE DIFFERENCE BETHEEN THE
SEASONALLY ADJUSTED SUM OF DEMAND DEPOSITS PLUS OCD AND SEASONALLY ADJUSTED DEMAND DEPOSITS. INCLUDED ARE ALL CBILING
FREE "SUPER NOBS," AUTHORIZED BY THE DEPOSITORY INSTITUTIONS DEREGULATION COMMITTEE TO IE OFFERED BEGINMUG JANUARY 5
1983.
5/ SUM OF O?ERNIGHT IPS AND OVERNIGHT EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL PURPOSE AND BBOKIR/DEALBH)
HHDAS, AMD SAVINGS AND SHALL TIME DEPOSITS, LESS THE CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF
DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS LIABILITIES.
6/ SUM OF LARGE TIME DEPOSITS, TERM RPS AND TERM EURODOLLARS OF U.S. RESIDENTS, HONEY MARKET FUND BALANCES (INSTITUTIONONLY), LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AflCUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY
INSTITUTION-ONLY HONEY MARKET FUNDS.
7/ SAVINGS DEPOSITS EXCLUDE HMDAS.
8/ SHALL DENOMINATION TIME DEPOSITS—INCLUDING RETAIL R P S — ARE THOSE ISSUED IN AMOUNTS OF LESS THAN $100,000. ALL
INDIVIDUAL RETIREMENT ACCOUNTS (IRA) ANP KEOGH ACCOUNTS AT COMMERCIAL BAUKS AND THRIFTS ARE SUBTRACTED FROM SMALL
9/
10/

LABGE DENOMINATION TIME DEPOSITS APE THOSE ISSUED IN AMOUNTS OF $100,000 OR HOBE, EXCLUDING THOSE HOCKED AT
INTERNATIONAL BANKING FACILITIES.
LAPGE DENOMINATION TIME DEPOSITS AT COMMERCIAL DANKS LESS THOSE HELD BY MONEY MARKET MUTUAL FUNDS,
DEPOSITORY INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS.




H.6 (508)
Table 4

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

Date

2/
3/
4/

Non-M3 components of L
bankers acceptances2
short-term treasury
securities1

commercial paper4

Debt components4
non-federal debt

federal debt

198J-DEC.

71.1

224.8

44.1

135.2

1172.8

4051.2

1934-JAN.
FEB.
HAR.

71.4
71.8
72.1

227.7
234.1
244.7

43.3
42.9
44.0

134.9
137.3
142.9

1191.7
1214.5
1224.6

4092.6
4128.8
4173.7

APR.
HAY
JUNE

72.5
72.7
73.0

243.7
243.5
253.8

44.7
46.5
47.7

146.9
151.4
157.1

1236.8
1251.9
1261.3

4220.9
4266.9
4313.6

JULY
AUG.
SEPT.

73.1
73.3
73.6

262.3
271.9
282.9

48.2
47.8
46.8

160.2
161.4
158.2

1277.9
1299.0
1311. 1

4356*9
4392.9
4429.6

1325.2
1347.2
1367.1

4472.6
4521.2
4570.3

OCT.
NCV.
DEC. P

V

savings bonds

CONSISTS OF U.S. TREASURY BILLS AND COUPONS WITH REMAINING MATURITIES OF LESS THAN 12
HELD BY
THAN
INSTITUTIONS, FEDERAL RESERVE BANKS, BOMFT MARKET MUTUAL FUNDS AND POhEIGN ENTITIES.
NET OF DANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL
HOHE LOAN BANK SYSTEH AND HONEY HARKET MUTUAL FUNDS.
TOTAL COMMEEC1AL PAPER LESS COMHEECIAL PAPER HELD BY HONEY MARKET MUTUAL FUNDS.
DEBT DATA ARE ON A MONTHLY AVERAGE BASIS, DERIVED BY AVERAGING END-OF-NONTH LEVELS OF ADJACENT MONTHS, AND HAVE BEEN
ADJUSTED TO REMOVE DISCONTINUITIES.




H.6 (508)
Table 5

COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT
Billions of dollars, not seasonally adjusted
Nontransactions components

Other checkable deposits
Date

1

Currency

Travelers
checks2

Demand
deposits3

at commercial
banks4

at thrift
institutions 5

total

6

in M2

in M3 only

7

Overnight
RPs8

Overnight
Eurodollars9

General
purpose and
broker/dealer
money market
funds

1984-JAN.
FEB.
MAR.

148.4
148.3
149.9

4.6
4.7
4.8

250.0
238.6
240.1

99.7
98. 3
100.3

34. 1
34. 1
35.4

133.8
132.4
135.7

1669.S
1684.9
1698. 1

516.5
525.7
537.9

44.6
45.9
45.3

11.5
11.4
11.3

137.8
142. 1
144. 8

APR.
HAY
JUNE

151.6
152.9
154.9

4.8
5.0
5.4

248.6
242. 1
247.8

103.4
100.3
101.7

37.3
37. 1
38. 1

140.6
137.4
139.8

1706.6
1714.0
1724.3

546.7
561.4
568.2

45.2
46.2
43.3

11.1
12.1
12.6

145.9
146.5
148.9

JULY
AUG.
SEPT.

156.3
156.5
156.5

5.8
5.7
5.4

248.4
243.8
246. 1

101.0
100.7
101.7

38.4
38.2
38. 8

139.4
138.9
140.5

1735.8
1742.7
1750.1

578.0
587.3
592.6

42,7
45.0
44. 1

13.6
13.4
12.6

150.5
150.6
152.0

OCT.
NOV.
DEC.

156.7
158.7
160.9

5.0
4.8
4.9

245.8
248.9
257.4

101.5
103. 1
105.9

39.4
40.6
41. 6

140.8
143.6
147.5

1767.7
1787.9
1805.8

604.9
616.5
626.0

44.7
47.9
45.2

12.1
1C.1
12.2

155.7
162.2
168. 1

1985-JAN.

158.3

4.9

254.9

108.3

42. 1

150.4

1836.1

626.1

48.8

13.8

172.8

WEEK ENDING:
1985-JAN.

FEB.

1/
2/
3/

4/

5/

6/

7/

8/
9/




7
14
21
28

160.5
159.1
158.1
156.9

271.0
259.3
252.4
242.0

111. 1
110.2
108.4
105.0

43.6
42.6
41.9
40.6

154.7
152.6
150.2
145.5

46.8
46.5
46.9
53. 1

14.2
13.7
12.4
14.8

168.0
173.3
174.6
174.7

4
11 P
18 P

157.8
159.4
159.0

247.8
245.4
245.4

107.3
108.6
107.3

42.6
43.0
42. 1

149.9
151.6
149. 4

53.1
52.6
57.1

13.8
12.9
11.9

174.5
175.9
176.2

K5 AND T H E V A U I / I 5 OF COMMERCIAI , BANKS. 1EXCLUDES TIIE ESTIMATED
AMOUNT OF VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR O C D LIABILITIES.
OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS CF NONbANK ISSUERS. TRAVELERS CHECKS ISSUED EY DEPOSITORY
INSTITUTIONS ARE INCLUDED IN DEMAND DEPOSITS.
DEMAND DEPOSITS AT COMMERCIAL BANKS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND
OFFICIAL INSTITUTIONS, LESS CASH ITEMS IN THE PROCESS OF COLLECTION AUD F.R. FLOAT, LESS THE ESTIMATED AMOUNT OF DEMAND
DEPOSITS HELD AT COMMERCIAL BANKS BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
CONSISTS OF NOW AND ATS BALANCES AT COMMERCIAL BANKS, U.S. BRANCHES AND AGENCIES OF FOREIGN BANKS, AND EDGE ACT
CORPORATIONS. INCLUDES SUPER NOWS OF $36.9 BILLION IN THE WEEK ENDED FEPhUARY
4, $37.3 BILLION IN THE WEEK ENDED FEBRUARY
11, AND $37.1 BILLION IN THE WEEK ENDED FEBRUARY
18.
CONSISTS OF NOW AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND MUTUAL SAVINGS BANKS, CREDIT UIION SHARE
DRAFT BALANCES, AND DEMAND DEPOSITS AT THRIFTS. INCLUDES SUPER NOWS OF $14.4 BILLION IN THE SEEK ENDED FEBRUARY
4 # $14.7
BILLION IN THE WEEK ENDED FEBRUARY 11, AMD $14*6 BILLION IN THE WEEK ENDED FEBRUARY
18.
SUM OF OVERNIGHT RPS AND EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL PURPOSE AND B R O K E R / D E A L E R ) , MHDAS AND SAVINGS
AND SHALL TIME DEPOSITS LESS THE ESTIMATED AMOUNT OF DEMAND DEPOSI1S AND VAULT CASH HELD BY THRIFT INSTITUTIONS TC SERVICE
THEIR TIME AND SAVINGS DEPOSIT LIABILITIES.
SUM OF LARGE TIME DEPOSITS, TERM RPS AND EURODOLLARS OF U.S. RESIDENTS, MONEY MARKET FUND BALANCES (INSTITUTION-ONLY), LESS A
CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVEHN1GHI fi^S AND EURODOLLARS HELD EY INSTITUTICN-CNLY
MONEY MARKET MUTUAL FUNDS.
CONSISTS OF OVERNIGHT AND CONTINUING CONTRACT RPS ISSUED BY COMMERCIAL EANK5 TO OTHEh THAN DEPOSITOBY INSTITUTIONS AND
MONEY MARKET MUTUAL FUNDS JGENERAL PURTOSK AND BROKER/DEALEH).
ISSUED BY FOREIGN TRANCHES OF U.S. BANKS WORLDWIDE TO U.S. RESIDENTS C.ibth THAN DEPOSITORY INSTITUTIONS AND
HONEY f.ARKET MUTUAL FUNDS (GENERAL PUI-FOSE AND BROK r.V./Ti KM FI-») .

CURRENCY OdTSlDi! THE 0 . 5 . TREASURY, FEDERAL Rl

H.6(508>
Table 5-oontmtied

COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT
Billions of dollars, not seasonally adjusted

Date

Money market depoe*
at
at
thrift
commercial
institution*
banks

total

at
commercial
banks

Savings deposits1
at
thrift
institutions

tttounts

total

Small denomination time deposits1
at
at
thrift
total
commercial
institutions
banks

Large denomination time deposits"
at
at
thrift
eammerclal
total
4
tanks
Institutions

1984-JAN.
FEB.
HAR.

234.7
239.0
243.4

149.3
151.0
153.4

384.0
390.0
396.9

131.5
130.1
130.4

172.0
171.0
172.6

303.5
301.1
303.0

354.1
356.2
357.6

441.6
445.3
446.3

795.8
801.6
803.9

230.5
231.4
234.6

106.5
112.1
115.2

337.0
343.4
349.9

APR.
HAT
JUJIB

246.3
245.3
245.9

154.7
154.1
151.9

401.0
399.4
397.8

130.7
130.2
130.0

173.7
173.6
174.4

304.5
304.0
304.4

358.0
362.0
367.1

448.2
450.9
457.2

606. 1
812.9
824.4

235.4
243.1
248.5

119.3
124.6
129.7

354.7
367.7
378.2

JOLT
AUG.
SEPT.

244.9
243.6
244.8

149.3
145.4
143.9

394.2
388.9
388.7

129.3
126.8
125.2

173.3
168.8
167.3

302.5
295.6
292.5

372.7
379.9
384.0

466.6
475.9
483.3

839.3
855.8
867.3

253.5
256.4
259.3

134.6
138.7
138.7

388.0
395.1
398.0

OCT.
NOT.
DEC.

246.2
257.1
267.1

144.0
145.5
148.0

392.1
402.5
415.1

124.3
122.7
121.4

167.2
165.8
164.5

291.5
288.5
285.9

3 86.2
387.1
387.6

492.6
496.8
498.8

878.8
683.9
886.4

264.1
263.6
265.8

143.6
148. 1
151.6

407.7
411.8
417.5

1985-JAI.

280.4

153.3

433.7

121.1

165.4

286.5

386.0

502.2

888.2

263.0 ,

154.5

•Ji7.fl

NEB* ENDING
1985
JAM.

FEB.

1/
2/
3/
4/

14
21
28

7

275.7
279.6
281.5
283.1

122.0
121.5
120.9
120.4

387.3
386.6
365.9
384.9

264.7
264.4
262. 1
261.2

4
11 P
18 P

285.8
288.0
289.4

120.5
120.7
120.5

384. 1
363.6
363.1

260.8
263.3
263.6

SAVINGS DEPOSITS EXCLUDE HflDAS.
SHALL DENOMINATION TIME DEPOSITS — INCLUDING RETAIL EPS — ARE THOSE ISSUED IN AHOOHTS OF LESS THAN $100,000. ALL
INDIVIDUAL RETIREflEMT ACCOUNTS (IRA) AND KEOGH ACCOUNTS AT COMMERCIAL BAMKS AND THRIFTS ARE SUBTRACTED FROfl SHALL
TIME DEPOSITS.
LARGE DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AHOUNTS OF $100,000 OR MORE, EXCLUDING THOSE BOOKED AT INTERNATIONAL
BANKING FACILITIES (IBFS).
LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS THOSE HELD BT MONEY MARKET MUTUAL FUNDS, DEPOSITOBI
INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS.




H.6<90§>
laMa 5-oonttnuad

COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT
Billions of dollars, not saasonally adjusts*

Dots
marts* funds

at satvwnavBtat
banks

At thrift
Institution*

total
Eufodoitaff*

1984~JAB.
FEB.
HAH.

43.5
44.6
45.0

30.9
32.2
31.9

19.2
19.2
21.6

50. 1
51.4

APR.
HAT
JOIB

45.0
45.3
45.7

32.5
32.0
29.2

JULY
AUG.
SEPT.

46.1
46.2
46.9

OCT.
HOT.
DEC.
1985-JAI.

Savings
bonds

Non M3 Componan* * L
Sctort*tar m
NIHWI
treasury
accaptancas'
sacuritias'

Oompanams of DsM

Omwis.ulai
fedarafdabt*

Non-Fadaral*
datot

53.5

89.0
89.4
93.2

71.6
71.8
72. 1

229.9
239.0
252.5

44.6
43.1
43.0

135.6
137.6
141.2

1189.8
1210.7
1223.6

4087.4
4113.7
4150.7

24.8
27.5
30.0

57.3
59.5
59.2

93.1
93.6
89.5

72.3
72.6
72.8

245.8
240.7
251.3

43.4
45.7
47.2

146.4
152.1
158.3

1235.9
1248.7
1255.8

4195.8
4244.7
4296.5

28.1
30.7
31.3

31.8
33.4
35.4

60.0
64. 1
66.6

88.4
86.7
85.9

73.0
73.3
73.5

260.5
270.7
280.0

47.5
47.7
47.2

161.2
159.8
158.4

1270.8
1295.8
1310.5

4342.8
4378.2
4417.8

52.2
58.3
62.7

33.1
35.4
32.5

36.1
35.3
37.3

69.3
70.7
69.7

81.0
81.9
83.2

73.8
73,9
73.9

278.9
275.3
270.9

45.1
43.3
42.2

158.3
159.4
157.3

1323.0
1343.0
1364.7

4464. 1
4513.4
4566.7

65.0

29.9

39.9

69.9

81.2

73.9

268.5

41.3

158.0

1383.1

4607.8

7
14
21
28

62.1
65.6
66.4
66*1

27.7
30.5
33.0
28.9

4
11 P
18 P

64.3
63.3
61.8

29.5
31.0
31.2

HBBK ENDING:
1985-JAN.

FBB.

1/
2/
3/
4/
5/
6/

TBRH BPS ABE TBOSB IITH ORIGINAL flATORITIES GREATER THAN ONE DAT, EXCLODIIG COITIiOIIG COITRACTS AID BETAIL BPS. INCLUDES
A RELATIVELT SHALL AHOOMT OP OfEHMIGHT BPS AT THRIFT IHSTITUTIORS.
TERH EURODOLLARS ARE THOSE MITH ORIGINAL HATURITIES GREATER THAN ONE DAT. CONSISTS OF THOSE ISSUED TO 0.S. BBSIDENTS BT
FOREIGN BRANCHES OF U.S. BANKS VORLDNIDE AND BT ALL BANKING OFFICES IN TBE UNITED KINGDOH AND CANADA. BICL0DES THOSE HELD
BT DEPOSITORT INSTITUTIONS AND HONBT HARKET HUTOAL. FUNDS.
CONSISTS OF U.S. TREASURY BILLS AND COUPONS NITH REMAINING MATURITIES OF LESS THAN 12 MONTHS HELD BT CTHER TflAN DEPOSITORT
INSTITUTIONS, FEDERAL RESERVE BANKS, HONET HARKET HUTUAL FUNDS, AND FOREIGN ENTITIES.
NET OF BANKERS ACCEPTANCES HELD BT ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL
HOME LOAN BANK STSTEH AND HONET HARKET MUTUAL FUNDS.
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BT MONET MARKET HUTUAL FUNDS.
DEBT DATA ARE ON A MONTHLY AVERAGE BASIS, DERIVED BT AVERAGING END-OF-NONTH LEVELS OF ADJACENT MONTHS, AND HAVE BEEN
ADJUSTED TO REMOVE DISCONTINUITIES.




H.6 (508)
Table 6

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

IRA and Keogh Accounts

U.S. government deposits

Time and
savings
deposits
due to foreign
commercial
banks and
foreign official
institutions

demand
deposits at
commercial
banks

balances at
Federal
Reserve
Banks

note balances
at commercial
banks
and thrift
institutions

total demand
deposits and
note and
FR balances

time
and savings
deposits at
commercial
banks

foreign
commercial
banks

foreign
official
institutions

8.6
8.9
8.4

1.9
2.0
2*0

8.1
7.8
7.7

3.1
3. 1
3.0

4.7
4.7
4.0

16.5
19.2
14.5

24.3
27.0
21.5

0.8
0.9
0.9

31.0
32.4
34.2

43.5
45.4
47.4

5.2
5. 5
5.7

8.3
8.7
8.6

1.9
2. 1
2.0

8.0
8.2
8.4

3.8
2.7
3.9

6.7

HAY
JUNE

3.8

12.7
10.0
8.5

23.2
17.4
16.2

0.9
0.9
0.9

38. 1
39.4
40.0

51.1
52.9
53.9

6.2
6.3
6.2

95.4
96. 6
100.0

JULY
AUG.
SEPT.

8.7
8.4
8.3

2.0
1.9
2.0

8.4
9.0
9.4

2.8
2.9
3.4

4.0
3.6
6.0

9.0
7.5
14.1

15.8
13.9
23.6

0.9
0.9
0.9

40.6
41.3
4U9

54.7
55. 1
55.9

6.2
6.2
6.2e

101.5
102.7
104.0e

OCT.
NOV.
DEC.

8.4
8.7
8.5

1.8
2. 1
2.0

9.3
9.4
9.5

2.7
2.8
3.4

4.0
3.2
3.4

8.4
7.5
9. 1

15. 1
13.6
16.0

1.0
1.1
1.0

42.6
43.2
43.6

56.9
57.7
59.0

6.2e
6.2e
6.3e

105.7e
107. 1e
109.Oe

1985-JAN.

8.5

1.9

9.2

3.7

4.0

14.9

22.5

1.1

45.6

60.9

6.4e

112.9e

7
14
21
28

9.2
7.9
8.0
8.7

1.9
1.8
1.9
2.0

9.4
9.2
9.1
9.1

4.4
2.8
4.4
3.1

3.4
3.8
3.0
5.3

9.9
13.0
15.6
2C.3

17.8
19.5
23.0
28.7

1.0
1.1

4
11 P
18 P

8.4
8.2
8.4

2.3
2.3
2.1

9.0
8.9
9.0

3.0
2.9
3.5

4.8
5.2
3.7

16.6
10.5
11.6

24.5
18.6
18.9

Date

1984-JAN.
FEB.
NAB.
APR.

4.6

WEEK ENDING:
1985
JAN.

FEB.

e = estisated




1.1

ill

commercial
banks

thrift
institutions

money
market
mutual funds

total

79. 8
83.3
87.3

SPECIAL SUPPLEMENTARY TABLE
Monthly Survey of Selected Deposits and Other Accounts
At All Insured Commercial Banks and All Mutual Savings Banks 1
December 26, 1984 and January 30, 1985
(not s e a s o n a l l y adjusted)
Liability Categories
"Super NOW" accounts2*
(standard error of the estimate)
Money market deposit accounts^*
Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:^
7 to 31 days
(standard error of the estimate)

Insured Commercial Banks
Amount Outstanding ($mll) Average Rate Paid (X)
December 26
January 30
December 26
January 30
34,686
(498)
267,113

Number of Issuing Banks
December 26
January 30

35,425
(503)

7.02

6.83

11,813

11,795

283,116

8.10

7.76

12,879

12,765

5,354
(466)

5,153
(381)

8.01

7.70

7,890

7,837

17,953
(772)

18,187
(753)

8.07

7.74

13,030

13,131

165,349
(2 2S11

163,298
(2 252)

8.77

8.46

13,809

13,699

183 days to 1 year
(standard error of the estimate)

59,429
(1,293)

60,404
(1,261)

9.11

8.85

12,665

12,647

over 1 year to 2-1/2 years
(standard error of the estimate)

69,875
(1,505)

70,908
(1,487)

9.73

9.49

13,307

13,254

2-1/2 years and over
(standard error of the estimate)

107,119
(1,573)

106,690
(1,556)

10.18

9.98

12,835

12,779

All IRA/Keogh Plan deposits5
(standard error of the estimate)

44,033
(279)

46,316
(266)

(N.A.)

(N.A.)

13,166

13,059

Retail repurchase agreements^
(standard error of the estimate)

1,229
(212)

1,177
(203)

7.49

7.39

2,993

2,880

32 to 91 days
(standard error of the estimate)
92 to 182 days

Liability Categories

State-Chartered Mutual Savings Banks
Number of Issuing Banks
Average Rate Paid (Z)
Amount Outstanding ftmil)
January 30
December 26
December 26
January 30
January 30
December 26

"Super N O W accounts2*
(standard error of the estimate)

845
(2)

923
(2)

7.30

7.18

218

217

Money market deposit accounts^*
(standard error of the estimate)

26,551
(77)

27,213
(81)

8.52

8.06

358

350

204
(29)

194
(30)

7.50

7.42

113

112

32 to 91 days
(standard error of the estimate)

868
(72)

946
(68)

8.37

8.03

269

275

92 to 182 days
(standard error of the estimate)

26,606
(195)

26,043
(178)

9.18

8.74

358

357

183 days to 1 year
(standard error of the estimate)

10,232
(79)

10,287
(72)

9.64

9.23

313

319

over 1 year to 2-1/2 years
(standard error of the estimate)

10,696
(173)

10,713
(109)

10.14

9.79

343

352

2-1/2 years and over
(standard error of the estimate)

20,062
(186)

19,337
(180)

10.53

10.33

336

334

All IRA and Keogh Plan deposits3
(standard error of the estimate)

8,643
(179)

8,716
(188)

(N.A.)

(N.A.)

356

355

Retail repurchase agreements6
(standard error of the estimate)

76
(65)

71
(62)

7.92

7.79

68

67

Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:*
7 to 31 days

N.A. - Data not available.
1. Estimates are based on data collected by the Federal Reserve from a stratified random sample of about 550 banks
and 75 mutual savings banks.
2. "Super NOW" accounts are NOW accounts containing an agreement between depositor and depository such that,
provided certain conditions—including a $1,000 minimum balance—are met, some or all funds deposited are eligible
to earn more than 5.25 percent.
3. Money market deposit accounts (MKDAs)—Deposits with a $1,000 initial and average balance requirement, no
required minimum maturity but institutions must reserve the right to require at least seven day's notice prior to
withdrawal, no restrictions on depositor eligibility, or limitations on the amount of interest that may be paid
unless the average balance falls below $1,000 during which period the NOW account rate ceiling applies; such
accounts may allow up to six transfers per month, no more than three of which may be draft and may permit unlimited
withdrawals by mail, messenger, or in person. Estimates for this category of deposits are based on data collected
by the Federal Reserve from weekly deposit reports submitted by about 10,500 commercial banks.
4. All interest-bearing time certificates and open account time deposits with balances of less than $100,000,
including those held in IRAs and Keogh Plan deposits.
5. All IRA/Keogh Plan time deposits regardless of size, type of instrument in which held, or interest rate paid.
6. Retail repurchase agreements are in denominations of less than $100,000 with maturities of less than 90 days
that arise from the transfer of direct obligations of, or obligations fully-guaranteed as to principal and interest
by, the U.S. Government or an agency thereof.
* In January, 1985 the minimum balance required in Super NOW and MMDA accounts was lowered from $2,500 to $1,000.