Full text of H.6 Money Stock Measures : January 10, 1985

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

JAM0ART 10, 1985

Billions of dollars
M1
Sum of currency,
Date
demand deposits and
ether checkable deposits*

M2
M3
M2plU8
M l plus overnight RPs
MfQs time deposits,
and Eurodollars,
MMMF balances (cjen. pur. term RPs, term Eurodollars
and institution-only
and broker/dealer), MMDAs,
and savings and small
time deposits2
Seasonally adjusted

L

Debt

M3 plus other
Hquid assets4

Debt of domestic
nonfinancial sectors*

1983—DEC.

525.4

2196.3

2710.4

3183.1

5224.6

1984—JAM.
FEB.
BAR.
APR.
HAT
JUNE
JOLT
AUG.
SEPT.
OCT.
MO?.
DEC. P

530.1
533.0
535.3
535.5
541.2
546.3
545.8
546.7
548.9
545.5
549.4
554.3

2206.8
2222.6
2230.0
2242.9
2258.6
2272.1
2281.9
2291.1
2305.8
2317.5
2346.3
2375.5

2723.1
2746.2
2767.1
2792.1
2819.1
2841.6
2862.6
2873.6
2891.8
2917.4
2955.4
2989.0

3198.3
3227.9
3269.8
3296.1
3328.6
3372.9
3410.7
3432.5
3456.2

5282.8
5341.7
5396.7
5455.9
5517.7
5571.7
5632.4
5694.5
5743. 1
5797.7

1983—DEC.

537.9

2198.1

2716.5

3187.1

5218.5

1984—JAN.
FEB.
BAB.
APR.
IAT
JO RE
JOLT
AUG.
SEPT.
OCT.
MOV.
DEC. P

535.0
522.0
528.2
543.3
535.0
545.6
547.5
542.7
546.3
546.0
553.4
567.7

2210.6
2212.4
2231.0
2254.7
2253.5
2273.9
2287.0
2288.5
2299.4
2316.8
2344.8
2377.0

2729.0
2738.9
2768.3
2800.7
2814.4
2840.2
2861.5
2871.7
2886.2
2915.5
2956.4
2995.5

3209.7
3229.4
3276.2
3307.6
3324.4
3368.9
3402.6
3422.0
3444.3

5276.0
5322.5
5373.1
5430.1
5491. a
5550.9
5613.2
5676.2
5731.9
5791.1

M1
For period ended
1 9 8 4 - MO?.

5

12
19
26

DEC

3
10

17
24 P
31 P

MOTE:

Not seasonally adjusted

Seasonally adjusted

547.0
547.0
547.3
547.9

545.6
545.2
547.2
549.8

546.9
545.7
552.3
554.2

545.4
545.9
546.9
548.2

546.1
546.5
550.3
553.5

553.2
555.0
557.1
548.8

548.0
547.8
548.0
548.9
549.6

549.9
551.3
550.9
551.8
554.3

547.3
551.2
550.9
557.7
557.2

549.0
549.5
550.5
553.0
555.7

553.6
556.0
557.9
562.8
568.4

553.6
564.4
564.9
568.2
576.0

SPECIAL CAOTIOM SHOULD BE TAKEM IM IMTERPRETIMG MEJ5K-TO-MEBK CBAMGES IM BOMET SUPPLY DATA, IBICB ARE
BIGBLT VOLATILE AMD SUBJECT TO BETISIOM.
P ~ INDICATES PRELIM PART DATA.
FOOTNOTES APPEAR OM TBE FOLLOfUG PAGE




H.6 (508)
Table 2

MONEY STOCK, LIQUID ASSETS AND DEBT MEASURES
Percent changa at seasonally adjusted annual ratas

Debt1

M1

M2

3 MONTHS PBOB SEPT. 1984 TO DEC. 1984

3.9

12. 1

13.4

11.7

6 MONTHS FROM J O K E

1984 T O DEC* 1984

2.9

9.1

10.4

12.5

12 MOUTHS PBOM D E C .

1983 TO DEC. 1984

5.5

8.2

10.3

13.1

M3

THIRTEEN WEEKS ENDING DEC. 3 1 , 1984
FBOJI THIBTBBN BEEKS ENDING:

1/

1/

2/

3/

4/
5/




OCT.

\. 1984 (13 HBBKS PBEflOOS)

1.8

JULI

2 , 1984 (26 BEEIS PBEflOOS)

3.0

JAN.

2 , 1 9 8 4 (52 WEEKS PBETJOOS)

5.0

GROWTH BATES FOB DEBT ABB BASED OH PEBIODS BEGINNING AMD ENDING TWO MOUTHS EABLIEB THAN FOB THE HONETABT AGGREGATES,
NAMELY, JOLT 1984 TO OCTOBEB 1984, APRIL 1984 TO OCTOBEfi 1984, AID OCTOBEB 1983 TO OCTOBEB 1984, RESPECTIVELY,
FOOTNOTES TO TABLE 1
CONSISTS OF (1) CURRENCY OUTSIDE THE TREASURY, FEDERAL RESERVE BANKS, AND THE VAULTS OF COMMEBCIAL BANKS;
(2) TRAVELERS CHECKS OF NONBANK ISSUERS; (3) DEMAND DEPOSITS AT ALL COMNEBCIAL BANKS OTHEB TH*N THOSE DOE TO
DOMESTIC BANKS, THE 0.S. GOVEBNHENT, AND FOBEIGM BANKS AID OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PBOCBSS
OF COLLECTION AND FEDEBAL RESERVE FLOAT; AMD (4) OTHER CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE OBDBB
OF BITHDRANAL (NOB) AMD AUTOMATIC TRANSFER SEBVICE (ATS) ACCOUNTS AT DEPOSITORY INSTITUTIONS,
CBEDIT UMIOM SHABE DRAFT ACCOUNTS AND DEMAND DEPOSITS AT THRIFT INSTITUTIONS. THE CURRENCY AMD DEMAND
DEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AMD DEMAND DEPOSITS, RESPECTIVELY, HBLD BY
THRIFT INSTITUTIONS TO SERVICE THEIB OCD LIABILITIES.
CONSISTS OF Hi PLUS OVEBMIGHT (AMD CONTINUING CONTRACT) BPS ISSUED BY ALL COMMERCIAL BANKS AND OVERNIGHT EURODOLLARS
ISSUED TO U.S. BESIDEMTS BY FOBEIGM BRANCHES OF U.S. BANKS BORLDBIDE, HMDAS, SAVINGS AMD SMALL DENOMINATION
TIME DEPOSITS (TIME DEPOSITS—INCLUDING RETAIL BPS—IM AMOUNTS OF LESS THAM $100,000), AMD BALANCES IM BOTH
TAXABLE AMD TAX-EXEMPT GENERAL PURPOSE AMD BROKER/DEALER HONEY MARKET MUTUAL FUNDS. EXCLUDES IRA AMD KEOGH
BALANCES AT DEPOSITORY INSTITUTIONS AMD HOMEY MABKET FUMDS. ALSO EXCLUDES ALL BALANCES HELD BY U.S. COMMERCIAL
BANKS, HOMEY MABKET FUMDS (GENERAL PURPOSE AMD BROKER/DEALER), FOREIGN GOVERNMENTS AND COMMERCIAL BAMKS, AMD
THE U.S. GOVERNMENT. ALSO SUBTBACTED IS A CONSOLIDATION ADJUSTMENT THAT BEPRESEMTS THE ESTIMATED AMOUNT
OF DEMAND DEPOSITS AMD VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TINE AMD SAVINGS DEPOSITS.
CONSISTS OF H2 PLUS LARGE DENOMINATION TIME DEPOSITS (IM AMOUNTS OF $100,000 OB MORE) AMD TERM RP LIABILITIES ISSUED
BY COMMERCIAL BANKS AND THRIFT INSTITUTIONS, TERM EURODOLLARS HELD BY U.S. RESIDENTS AT FOREIGN BRANCHES OF U.S. BAMKS
HORLDBIDE AMD AT ALL BANKING OFFICES IM THE UNITED KINGDOM AND CANADA, AMD BALANCES IM BOTH TAXABLE AMD TAX-EXEMPT
INSTITUTION-ONLY MONEY MARKET MUTUAL FUNDS. EXCLUDES ANOUMTS HELD BY DEPOSITORY INSTITUTIONS, THE U.S. GOVEBNMEMT, HOMEY
MABKET FUNDS, AMD FOBEIGM BANKS AMD OFFICIAL INSTITUTIONS. ALSO SUBTBACTED IS A CONSOLIDATION ADJUSTMENT THAT BEPBESEMTS
THE ESTIMATED AMOUMT OF OVERNIGHT EPS AND EURODOLLARS HELD BY INSTITUTION-ONLY HONEY MARKET MUTUAL PUMDS.
CONSISTS OF H3 PLUS THE MONBAMK PUBLIC HOLDINGS OF U.S. SAVINGS BOMDS, SHORT-TERM TREASURY SECURITIES, COMMERCIAL
PAPER AND BANKEBS ACCEPTANCES, NET OF HONEY MARKET MUTUAL FUND HOLDINGS OF THESE ASSETS.
DEBT OF DOMESTIC NONFINANCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MARKET DEBT OF THE UNITED STATES GOVERNMENT,
STATE AND LOCAL GOVERNMENTS AND PRIVATE NONFINANCIAL SECTORS. PRIVATE DEBT CONSISTS OF CORPORATE BOMDS, MORTGAGES,
CONSUMER CREDIT (INCLUDING BANK LOANS), OTHER BANK LOANS, COMMERCIAL PAPER, BANKERS ACCEPTANCES AND OTHER DEBT
INSTRUMENTS. THE DATA ARE DERIVED FROM THE FEDERAL RESERVE BOARD'S FLOB OF FUNDS ACCOUNTS. ALL DATA ON DEBT OF DOMESTIC
NONFINANCIAL SECTORS ARE PRESENTED IN MONTH-AVERAGE FORM, DERIVED BY AVERAGING MONTH-END LEVELS OF ADJACENT MONTHS. THE
DATA HAVE ALSO BEEN ADJUSTED TO REMOVE STATISTICAL DISCONTINUITIES THAT MAY ARISE IN THE UNDERLYING FLOB OF FUNDS STATISTICS.
THE PRESENTATION OF DEBT DATA IN THIS RELEASE DIFFERS, THEREPORE, FROM THE QUARTERLY FLOB OF FUNDS STATISTICS CONTAINED IN
IN THE FEDERAL RESERVE RELEASES Z.7 AND Z.I. IN THOSE RELEASES, PUBLISHED LEVELS OF CREDIT MARKET DEBT ARE MEASURED ON A
A QUARTER-END BASIS AND INCLUDE DISCONTINUITIES.

COMPONENTS OF THE MONEY STOCK
i of dotted MMOMNy aflutltd

Cuntnoy'

1983-DEC.

148.0

4.9

243.7

128.9

1670.9

514.1

134.6

178.2

312.9

353. 1

440.0

793.1

225.1

100.4

325.4

1984-JAM,
FEB.
BAB.

149.9
150.2
150.9

4.9
5.0
5.0

244.5
243.8
244.0

130.8
134.0
135.4

1676.7
1689.6
1694.8

516.3
523.6
537.0

132.1
130. 1
128.9

177.7
176.5
176.6

309.9
306.6
305.5

352.9
352.8
353.5

444. 1
448.1
449.9

797.0
800.9
803.4

226.8
227.9
232.4

106.3
112.0
115.5

333.0
339.9
347.9

APR.
BAT

151.8
152.9
154.2

5.1
5.1
5.1

245.3
245.2
248.2

133.3
138.0
138.8

1707.4
1717.4
1725.7

549.2
560.5
569.5

128.6
128.2
128.0

176.9
177.3
177.1

305.5
305.5
305.1

356.0
360*5
365.7

452.4
456.1
463.3

808.3
816.7
829.0

236.0
243.4
249.4

119.5
123.8
129.4

355.5
367.3
378.8

JOLT
AUG.
SEPT.

155.0
156.0
156.7

5.2
5.2
5.1

247.1
245.5
246.4

138.5
139.9
140.8

1736.1
1744.4
1756.9

580.7
582.5
586.0

127.4
126.3
125.9

175.6
173.4
173.0

303.0
299.7
298.9

371.8
377.8
382.3

473.3
484.1
492.2

845.2
862.0
874.5

254.8
255.3
257.6

134.2
136.7
135.1

389.0
391.9
392.9

OCT.
NO¥.

157.2
157.5
158.0

5.0
5.1
S.I

243.8
245.7
248.3

139.6
141.2
142.9

1772.0
1796.9
1*21.2

599.9
609.1
613.5

125.2
124.7
123.5

172.2
171.5
170.6

297.4
296.1
294.4

384.4
386.0
387.7

500.7
505.6
509.4

885.1
891.6
897.1

262.4
261.5
261.7

138.7
143.3
148.6

401.1
404.6
410.5

aon

• KBI ENDING
1984
MOT.

DEC.

5
12
19
26

156.9
157.4
157.5
158.3

244.7
243.7
248.3
246.7

140.3
139.7
141.5
144.0

124.9
124.7
124.7
124.5

385.3
385.7
385.7
386.2

263.0
262.6
261.0
260.6

3
10
17
24 p
31 P

157.2
157.3
157.5
158.1
159.1

244.3
245.9
246.3
249.8
250.9

140.7
142.8
141.8
144.7
142.1

124.4
124.4
123.8
122.9
122.7

387.6
388.4
388.1
387.2
386.4

258.9
262.1
260.4
263.0

1/

*kuts

2/
ISS0BBS

3/

-

2*3.9 I

IXCIOOIS

ISTIIU

™

CBBCK

kT C0IIIIEBCI L B A M K S
^ x
*
A " FOREIGN BELATED INSTITUTIONS OTHER THAN THOSE DOE TO DOMESTIC BANKS, THE 0. S. GOIBBBJa! B ic!r B1 ! KS i B D 0 F F 1 C I A L INSTITUTIONS LESS CASH ITEHS II THE PBOCESS OF COLLBCTIOI AID PBDBBAL RESERVB FLOAT.
l ? « « • * * » * » W Of DBflAID DEPOSITS HELD AT COHBEBCIAL BAIKS BI THRIFT ZISTIT0TIOIS TO SEBflCB THBIB OCD

COISISTS OF IOH AID ATS BALAICES AT ALL DEPOSITORY INSTITUTIONS, CREDIT 0IIOI SHARE DRAFT BALANCES AND

2B!qSA?f5°!5™««n t S5 F 3!. I " S T I T 2 T I O I I S *

°THEa

CHECKABLB

DEPOSITS SEASONALLT ADJUSTED EQUALS THE DIFFERENCE BETWEEN THE

SEASONALLY ADJOSTED SOB OF DEBAND DEPOSITS PLUS OCD AND SBASONALLI ADJUSTED DBfiAND DEPOSITS. INCLUDED ARE ALL CBILIIG
FREE -SUPER IONS,* AUTHORIZED BI THE DBPOSITORI INSTITUTIONS DEREGULATION COBBITTBE TO £B OFFBBBD BBGINNIBG JANUABI 5.
5/
*,
6/
7/
8 /

^

10/




SUB OF OfEBNIGHT BPS AID OfERNIGHT EURODOLLARS, BOMEI HARKBT FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER);
n » 2 t - n i ! ° S A ? I M G S A i 0 S ! U L L T I 8 B DEPOSITS. LBSS THE CONSOLIDATION ADJUSTBBNT THAT REPRBSENTS THE ESTIBATEO AHOUNT OF
? ? " * ? DEPOSITS AND WAULT CASH HELD BT THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAflNGS DEPOSITS LIABILITIES?
SUB OF LARGB TIHE DEPOSITS, TERB RPS AND TEfifl EURODOLLARS OF U . S , RESIDBNTS, HONE! BARKET FUND BALANCES (INSTITUTIONONLT), LESS A CONSOLID1TIOH ADJUSTHRiT THAT REPRESENTS THE ESTIHATED ABOUNT OF OfBRNIGHT RPS AND EURODOLLARS BBLD BI
SAflNGS DEPOSITS BXCLDDB BDDAS.
f S n i i r S 1 " 0 " 1 1 1 1 1 1 0 1 T I I I E DEPOSITS—INCLUDING RETAIL RPS— ABB THOSE ISSUED IN ABOUNTS OF LESS THAN S 1 0 0 . 0 0 0 . ALL
T l S s D E P O S I T S ? " " " 1 1 A C C ° 0 I I I S ( I B A ) A M D K E 0 G H ACCOUNTS AT COHBBRCIAL BANKS AND THRIFTS ARE SOBTRACTBD FROB "
P
INTERNATlS2f!! A Bl2!!T" H 5irTi
?TTRc
CILI^^

DEP0SITS

* "
AT

TH

°SE

ISSDBD

IM

AftOUNTS OF $ 1 0 0 , 0 0 0 OR BORE. EXCLUDING THOSE BOOKED AT

DEPoIlToll^Tll^nTTi!!!
"
COBBEBCIAL BANKS LESS THOSE HELD Bf BONE! BARKET BUTUAL FUNDS,
DEPOSITOBI INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS.

H.6 (508)
Table 4

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

Date

savings bonds

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

commercial paper*

1983-OCT.
NOV.
DEC,

70.7
70.8
71.0

218.4
217.2
223.3

42.8
42.9
43.3

123.4
124.7
135.2

1151.3
1163.6
1173.1

3973.4
4006.9
4051.6

1984-JAN.
FEB.
MAR.

71.2
71.7
72.2

226.3
231.2
245.2

42.7
41.6
42.4

134.9
137.3
142.9

1192.2
1216.2
1224.9

4090.6
4125.5
4171.8

APE.
HAY
JUNE

72.5
72.8
73.0

241.4
239.9
254.4

43.1
45.3
46.9

146.9
151.4
157.1

1236.5
1252.2
1259.9

4219.4
4265.4
4311.8

JULY
AOG.
SEPT.

73.2
73.4
73.6

267.4
276.8
286.3

47.3
47.3
46.2

160.2
161.4
158.2

1276.8
1300. 1
1310.9

4355.5
4394.4
4432.2

1323.1

%474.7

OCT.

1/

2/
3/
4/

Debt components4
federal debt
non-federal debt

CONSISTS

OF U . S . TREASURY B I L L S A I D COUPONS WITH REMAINING

M A T U R I T I E S OF LESS THAN

12 MONTHS HELD BY OTHFB Tf i n

DEPOSITORY

INSTITUTIONS, FEDERAL RESERVE BANKS, HONEY HARKET MUTUAL FUNDS AND FOREIGN ENTITIES.
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL
HOME LOAN BANK SYSTEM AND HONEY MARKET MUTUAL FUNDS.
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BY MONEY MARKET MUTUAL FUNDS.
D£BT DATA ARE ON A MONTHLY AVERAGE BASIS, DERIVED BY AVERAGING END-OF-MONTH 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
Other checka&te deposits
Date

Currency1

Travelers
checks'

Demand
deposit

at commercial
banks4

at thrift
institutions*

Nontransactions components
total

in M2'

in M3 on)-/

Overnight
RPs*

Overnight
Eurodollars'

Genera!
purpose and
broker/dealer
money market
funds

1983-DEC.

150.5

A.6

251.6

97.7

33.6

131.3

1660.?

518.4

44.8

11.4

138.2

198 4 - JAN.
FEB.
BAR.

148.4
148.3
149.8

4.6
4.7
4.8

249.4
237.9
239.4

99.2
97.8
99.7

33.4
33.3
34.5

132.6
131.1
134.2

1675,7
1690.5
1702.7

518.4
526.4
537.4

47.1
48.1
47.0

11.5
11.4
11.3

137.8
142. 1
144.8

APE.
HAT
JUNE

151.5
152.9
154.9

4.8
5.0
5.4

247.8
241.3
247.0

102.8
99.7
101.1

36.4
36.2
37.2

139.1
135.9
138.3

1711.4
1718.5
1728.3

546.0
560.9
566.4

46.4
47.0
43.9

11.1
12.1
12.6

145.9
146.5
148.9

JOLT
AUG.
SEPT.

156.3
156.5
156.5

5.8
5.7
5.4

247.5
242.9
245.3

100.4
100.2
101.2

37.6
37.4
38.0

138.0
137.6
139.1

1739.5
1745.7
1753. 1

574.5
583.2
586.8

43.2
45.2
44.1

13.7
13.5
12.7

150.5
150.6
152.0

OCT.
NOV.
DEC. P

156.7
158.6
160.9

5.0
4.8
4.8

244.9
248.0
256.4

100.9
102.5
105.3

38.5
39.5
40.3

139.4
142.0
14 5.6

1770.9
1791.4
1809.3

598.7
611.6
618.5

44.7
48.2
45.1

12.1
9.8
12.0

155.7
162.2
168. 1

WEEK ENDING:
1984-NOV.

DEC.

1/

5
12
19
26

157.6
159.2
158.6
159.1

248.6
247.8
251.5
244.5

102.4
103.3
102.7
101.5

39.8
39.9
39.5
38.9

142.2
143.2
142.2
140.4

49.3
48.8
51.4
40.9

10.7
10.5
10.2
7.5

158.3
160.8
162.4
164.3

3
10
17
24 P
31 P

158.0
160.8
160.7
162.2
160.5

248.3
251.8
254.2
256.0
264.9

102.9
105.9
105.0
105.2
105.5

39.6
41. 1
40.2
39.9
40.2

14 2.5
147.0
145.2
14 5.2
145.7

53. 1
47.3
46.6
39.9
43.4

10.9
10.3
11.5
13.0
13.6

165.5
167.1
168.7
169.1
168.7

CURRENCY OUTSIDE THE D.S. TBEASUBY, FEDERAL RESEBTE BANKS AND THE VAULTS OP COMMERCIAL BANKS. EXCLUDES THE ESTIHATEO
AMOUNT OF VAULT CASH HELD BT THRIFT INSTITUTIONS TO SEBVICE THEIR OCD LIABILITIES.
2/ OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOHIHATED TRAVELERS CHECKS OF NONBANK ISSUERS. TRAVELERS CHECKS ISSUED BT DEPOSITOBT
INSTITUTIONS ABE INCLUDED IN DEMAND DEPOSITS.
3/ 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 AND F.B. FLOAT, LESS THE ESTIMATED AMOUNT OF DEMAND
DEPOSITS HELD AT COMMERCIAL BANKS BI THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
4/ CONSISTS OF NOW AND ATS BALANCES AT COMMERCIAL BANKS, U.S. BRANCHES AND AGENCIES OF FOREIGN BANKS, AND EDGE ACT
CORPORATIONS. INCLUDES SUPER NOUS OF $34.6 BILLION IN THE SEEK ENDED DECEMBER 17, $34.9 BILLION IN THE WEEK ENDED DECEMBER
24, AND $35.1 BILLION IN THE WEEK ENDBD DECEMBER 31.
5/ CONSISTS OF NOW AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND MUTUAL SAVINGS BANKS, CBEDIT UNION SHABE
DRAFT BALANCES, AND DEMAND DEPOSITS AT THRIFTS. INCLUDES SUPER NOUS OF $12.8 BILLION IN THE WEEK ENDED DECEMBER 17, $12.7
BILLION IN THE WEEK ENDED DECEMBER 24, AND $12.8 BILLION IN THE UEEK ENDED DECEMBER 31.
6/ SUM OF OVERNIGHT RP5 AND EURODOLLARS, MONET MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER), HHDAS AND SAVINGS
AND SMALL TIME DEPOSITS LESS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS AND VAULT CASH HELD BT THRIFT INSTITUTIONS TO SERVICE
THEIR TIME AND SAVINGS DEPOSIT LIABILITIES.
7/ SUM OF LARGE TIME DEPOSITS, TERM RPS AND EURODOLLARS OF 0.S. RESIDENTS, MONEY MARKET FUND BALANCES (INSTITUTION-ONLY), LESS A
CONSOLIDATION ADJUSTfiENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BT INSTITUTION-ONLT
HONEY MARKET MUTUAL FUNDS.
8/ CONSISTS OF OVERNIGHT AND CONTINUING CONTRACT HPS ISSUED BY COflMSRCIAL BANKS TO OTHER THAN DEPOSITORT INSTITUTIONS AND
MONEY MARKET MUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER).
9/ ISSUED BY FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE TO U.S. RESIDENTS OTHER THAN DEPOSITORY INSTITUTIONS AND
NONFY fiARKET WHTUAJ FUNDS (GENEFAL PURPOSE AND BROKER/DEALER).




H.6 (508)
Table 5-continued

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

thrift
institutions

376.0

132.0

176.5

308.5

351.0

437.6

788.6

228.5

100.7

329.2

146.2
147.7
149.9

380.3
386.0
392.5

131.3
129.9
130.2

176.2
175.3
177.0

307.4
305.2
3 07.2

353.7
355.4
356.0

445.7
450.0
451.6

799.4
805.4
807.6

228.9
229.3
232.7

105.7
111.2
414.2

334.6
340.5
346.9

JUNE

245.4
244.3
244.9

151.0
150.2
148.0

396.4
394.6
392.9

130.5
129.9
129.7

178.1
178.3
178.8

308.7
308.2
308,5

356.5
360.5
365.4

454.2
457.2
463.7

810.7
817.6
829.0

233.4
241.3
247.0

118.2
123.3
128.2

351.6
364.6
375.1

JOLT
AUG.
SEPT.

243.9
242.6
243.8

145.3
141.2
139.5

389.2
383.8
383.4

128.9
126.4
124.7

177.7
173.3
171.9

306.7
299.7
296.6

370.8
377.6
381.6

473.1
482.6
490.2

843.9
860.1
871.8

251.5
255.6
258.7

132.9
136.9
136.9

384.5
392.5
395.5

OCT.
MOV.
DEC. P

247.2
256.0
265.9

139.6
141.2
143.8

386.8
397.3
409.7

123.8
122.3
120.9

171.9
170.4
169.1

295.7
292.7
290.1

383.8
384.8
385.2

499.8
504. 1
506.6

883.6
889.0
891.9

263.2
263.0
265.5

141.7
146.1
149.5

404.9
409.1
415.0

thrift
institutions

total

1983-DEC.

230.0

145.9

1984-JAN.
FEB.
MAR.

234.2
236.3
242.6

APR.
HAT

3/
4/

total

at

at

commercial
banks

thrift
institutions

at

at

total

commercial
4

banks

thrift
institutions

ENDING

1984
NO?.

t/
2/

Large denomination time deposits'

commercial
banks

commercial
banks

Date

DEC.

Small denomination time deposits'

at

at

iEEK

Savings deposits
at

at

5
12
19
26

251.6
254.5
256.2
256.0

122.9
122.6
122.4
121.9

384.6
385.0
384.8
384.9

263.2
263.7
262.4
263.0

3
10
17
24 P
31 P

260.7
263.5
265.4
267. 1
269.8

121.6
121.7
121. 1
120.3
120.3

385.1
385.3
385.3
385.2
385.0

262.6
266.0
263.9
266.3
266.8

SAVINGS DEPOSITS EXCLUDE NMDAS.
SMALL DENOMINATION TIME DEPOSITS — INCLUDING RETAIL EPS — ARE THOSE ISSUED IN AMOUNTS OF LESS THAN $100,000. ALL
INDIVIDUAL RETIREMENT ACCOUNTS (IRA) AND KEOGH ACCOUNTS 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 (IBFS).
LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS THOSE HELD BT MONET MARKET MUTUAL FUNDS, DEPOSITOR!
INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS.




total

H.6 (508)
Table 5-continued

COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT
Billion* of dollars, not seasonally adjust*)
Term RFV
Date

Institution
only money
market funds

at commercial
banks

at thrift
institutions

total

Term
Eurodollars2

Non M3 Components of L
Short-term
Bankers
treasury
acceptances4
securities'

Savings
bonds

Components of Debt
Commercial
paper*

Federal debt*

Non-Federal*
debt

19 83-D EC.

43.2

36.4

19.6

56.0

93.4

71.3

222.7

44.7

131.8

1170.2

4048.3

1984-JAN.
FEB.
SAB.

43.5
44.6
45.0

34.2
35.7
35.4

19.1
18.8
20.6

53.3
54.5
55.9

89.9
89.9
93.2

71.6
71.8
72.1

229.9
239.0
252.5

43.6
42.2
42.0

135.6
137.6
141.2

1189.8
1210.7
1223.6

4086.2
4111.8
4149.5

APR.
JUNE

45.0
45.3
45.7

36.2
35.7
32.5

23.6
25.9
27.1

59.8
61.6
59.6

93.1
94.1
90.3

72.3
72.6
72.8

245.8
240.7
251.3

42.4
44.7
46.2

146.4
152. 1
158.3

1235.9
1248.7
1255.8

4194.2
4243. 1
4295.1

JOLT
AOG.
SEPT.

46.1
46.2
46.9

31.4
34.3
34.9

28.2
29.1
29.7

59.6
63.4
64.7

88.8
85.9
84.6

73.0
73.3

260.5
270.7
280.0

46.5
46.6
46.2

161.2
159.8
158.4

1270.8
1295.8
1310.5

4342.4
4380.5
4421.4

OCT.
NOV.
DEC. P

52.2
58.3
62.7

36.9
39.4
36.1

29.5
28.8
28.4

66.4
68.2
64.5

80.4
82.1
83.2

1323.0

4468.1

5
12
19
26

55.0
57.3
58.6
59.6

39.1
39.6
35.7
45.6

3
10
17
24 P
31 P

61.3
61.9
62.2
63.6
63.8

34.9
32.8
34.3
40.6
37.0

HAY

73.5

.

WEEK ENDING:
1984-NOV.

DEC.

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




TEBH BPS ABE THOSE WITH ORIGINAL HATOBITIES GBBATEB THAN ONE DAT, ElCLODIMG CONTINUING CONTRACTS AND BETAIL BPS.
TEBH EURODOLLABS ABE THOSE WITH ORIGINAL HATOBITIES GBEATEB THAN OKE DAT. CONSISTS OP THOSE ISSUED TO U.S. RESIDENTS BT
FOBEIGN BBANCHES OF U.S. BANKS WORLDWIDE AND BY ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA. EXCLUDES THOSE HELD
BY DEPOSITOBT INSTITUTIONS AND HOMEY HABKET MUTUAL FUNDS.
CONSISTS OF U.S. TBEASUBT BILLS AND COUPONS WITH BEHAINING MATURITIES OF LESS THAN 12 HONTHS HELD BY OTHER THAN DEPOSITORY
INSTITUTIONS, FEDERAL RESERVE BANKS, HONEY HABKET HUTUAL FUNDS, AND FOREIGN ENTITIES.
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOBEIGN OFFICIAL INSTITUTIONS, THE FEDERAL
HOPE LOAN BANK SYSTEM AMD HONEY MARKET MUTUAL FUNDS.
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BY MONEY HABKET MUTUAL FUNDS.
DEBT DATA ABE ON A MONTHLY AVERAGE BASIS, DERIVED BY AVERAGING END-OF-HONTH LEVELS OF ADJACENT MONTHS, AND HAVE BEEN
ADJUSTED TO REMOVE DISCONTIN0ITIES.

H.6 (508)
Table 6

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

foreiQn
commercial
banks

Date

foreign
official
institutions

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

U.S. government deposits
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

IRA and Keogh Accounts
time
and savings
deposits at
commercial
banks

commercial
banks

thrift
institutions

money
market
mutual funds

total

1983-DEC.

8.2

2.0

7.1

3.0

3.6

7.8

14.4

0.7

30. 1

39.5

5.0

7.4.6

1984-JAN.
FEB.
1UR.

8.3
8.5
8.1

1.8
1.9
1.9

7.0
6.8
6.9

3.1
3.1
3.0

4.7
4.5
4.0

16.5
19.2
14.5

24.2
26.8
21.5

0.9
0.9
0.9

31.0
32.7
34.7

41.0
42.8
44.6

5.2
5.5
5.7

77.3
81.0
! 85.0

APE.
HAY
JO ME

8.0
8.2
8.1

1.7
1.9
1.8

7.2
7.4
7.5

3.8
2.7
3.9

7.5
4.2
3.8

12.7
10.0

24.0
16.9
16.1

0.9
0.9
0.8

38.3
39.5
40.1

47.6
49.2
50.0

6.2
6.3
6.2

92.1
95.0
96.3

JOLT
AOG.
SEPT.

8.2
8.0
8.0

1.8
1.8
1.9

7.3
7.5
7.6

2.8
2.9
3.4

4.0
3.6
6.2

9.0
7.5

0.8
0.8
0.8

40.6
41.4
42.0

50.7
51.0
51.7

6.2
6.2

14.1

15.8
13.9
23.7

6.2e

97.5
98.7
99. 8e

OCT.
HOT.
DEC.

8.1
8.5
8.4

1.7
2.0

1.8

7.3
7.4
7.6

2.6
2.8
3.4

3.9
3.1
3.5

8.4
7.5
9.1

14.9
13.5
16.0

0.9
1.0
0.9

42.6
43.2
43.7

52.6
53.4
54.2

6.2e
6.2e
6. 3e

101.4e
102.8e
104.2e

5
12
19
26

8.5
8.8
8.7
8.3

1.9
2.0
2.0
1.9

7.3
7.4
7.4
7.4

3.0
2.7
2.8
3.0

3.2
3.1
3.5
3.0

13.0

19.3
13.7
12.0
12.5

1.0
1.0
1.0
1.0

3
10
17
24 P
31 P

8.1
8.5
8.2
8.5
8.3

1.9
1.9
2. 1
1.7
1.7

7.4
7.7
7.7
7.6
7.6

2.3
2.8
4.6
3.4
3.1

2.6
3.3
3.5
3.7
4.0

5.3
6.0
4.6

10.2
12.1
12.7
21.0
20.9

1.0
0.9
0.9
0.9
0.9

P

8.5

WEEK EMDIMG:

1984
HOY.

DEC.

estimated




7.8
5.7
6.5

13.9
13.8