View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

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

~~

"

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES6

For release at 4:30 p.m. Eastern Time

Billions of dollars

Date

JANUARY26,1995
M11

M22

M33

DEBT5

Seasonally adjusted
1993-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1033 .0
1035.4
1040.2
1047.1
1067.7
1076.6
1086.4
1095.3
1105.1
1113.4
1122.4
1128.4

3502.7
3494.1
3494.7
3497.9
3521.8
3528.6
3533.2
3536.0
3544.3
3548.0
3560.3
3567.9

4162.6
4156.7
4155.6
4163.2
4188.8
4189.0
4187.9
4188.4
4197.6
4205.3
4219.0
4232.0

5040.2
5036.2
5037.5
5055.6
5089.4
5090.7
5087.2
5096.4
5089.6
5100.3
5113.8
5135.0

11743.8
11779.3
11830.4
11892.8
11953.9
12009.0
12063.9
12121.7
12174.9
12211.4
12268.4
12335.4

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

1133.5
1138.5
1142.3
1141.1
1142.8
1146.3
1153.1
1151.0
1151.9
1148.5
1147.6
1147 .6

3574.9
3572.1
3584.3
3591.5
3595.2
3588.9
3604.6
3598.9
3597.6
3592.6
3594.2
3600.0

4238.3
4213.2
4220.4
4229.6
4228.9
4230.4
4252.8
4245.9
4250.9
4259.6
4267.0
4282.4

5157.2
5146.4
5144.6
5165.4
5171.6
5162.0
5189.1
5182.1
5176.9
5205.5
5217.8 p

12379.6
12430.4
12496.0
12555.2
12613.6
12655.5
12683.4
12749.1
12809.5
12856.8
12924.3 p

Not seasonally adjusted
1993-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1041.0
1023.0
1031.6
1058.7
1058.1
1073.2
1084.3
1088.8
1099.1
1111.8
1129.6
1153.8

3508.2
3484.1
3495.7
3515.1
3507.2
3524.3
3529.5
3529.0
3533.9
3546.0
3569.0
3590.5

4163.2
4150.0
4158.3
4178.5
4179.8
4185.3
4180.9
4185.1
4186.8
4199.8
4230.6
4251.4

5053.9
5030.9
5043.7
5065.0
5067.4
5080.2
5072.5
5086.2
5077.5
5092.7
5135.0
5169.9

11728.1
11741.0
11788.3
11839.6
11891.4
11964.3
12020.4
12072.4
12134.1
12172.9
12241.3
12327.6

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

1142.8
1124.6
1131.9
1153 . 1
1132 .7
1142.4
1151.0
1144.0
1146.0
1147.3
1155.3
1173.5

3581.5
3560.0
3582.7
3608.8
3580.5
3584.8
3600.9
3591.2
3587.1
3591.0
3603.8
3623.5

4239.1
4204.0
4220.4
4245.3
4220.0
4227.0
4245.8
4241.9
4240.2
4254.1
4279.9
4302.9

5171.5
5138.1
5148.5
5174.5
5148.3
5151.4
5174.4
5171.4
5164.9
5197.8
5241.6 p

12372.1
12403.5
12456.5
12498.3
12545.8
12608.5
12643.0
12700.9
12765.8
12816.3
12895.4 p

Footnotes appear on the following page
p

preliminary




Page 2
H.6 (508)
Table 2

MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates
M1

M2

M3

DEBT1

1 9 9 4 TO DEC. 1 9 9 4

-1.5

0.3

3.0

5.5

6 M o n t h s f r o m JUNE 1 9 9 4 t o DEC. 1 9 9 4

0.2

0.6

2.5

4.9

12 M o n t h s f r o m DEC. 1 9 9 3 TO DEC. 1 9 9 4

1.7

0.9

1.2

5.3

-1.5

-0.1

2.4

3 M o n t h s f r o m SEP.

T h i r t e e n w e e k s e n d i n g JANUARY 1 6 , 1 9 9 5
from t h i r t e e n weeks e n d i n g :
OCT. 1 7 , 1 9 9 4 ( 1 3 w e e k s p r e v i o u s )
JULY 1 8 ,

(26 weeks p r e v i o u s )

0.5

0.3

2.1

JAN. 1 7 ,

1.

1994
1994

(52 weeks p r e v i o u s )

2.0

1.0

1.2

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, August 1994 to November 1994, May 1994 to November 1994,
and November 1993 to November 1994, respectively.

Footnotes to Table 1:
1.

2.

3.

4.
5.

Consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) travelers checks of nonbank issuers; (3) demand
deposits at all commercial banks other than those due to depository institutions, the U.S. government, and foreign banks and official institutions, less cash items in the
process of collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NOW) and automatic transfer
service (ATS) accounts at depository institutions, credit union share draft accounts and demand deposits at thrift institutions. Seasonally adjusted M1 is calculated by
summing currency, travelers checks, demand deposits, and OCDs, each seasonally adjusted separately.
Consists of M1 plus overnight (and continuing contract) RPs issued by all depository institutions and overnight Eurodollars issued to U.S. residents by foreign branches of
U.S. 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 Keogh 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 as a whole and then adding this result to seasonally adjusted M1.
Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more) and term RP liabilities issued by all depository institutions, term Eurodollars held
by U.S. residents at foreign branches of U.S. banks worldwide and at all banking offices in the United Kingdom and Canada, and balances in both taxable and tax-exempt
institution-only money market mutual funds. Excludes amounts held by depository institutions, the U.S. government, money market funds, and foreign banks and official
institutions. Also subtracted is the estimated amount of overnight RPs and Eurodollars held by institution-only money market mutual funds. Seasonally adjusted M3 is
obtained by adjusting 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 market
mutual fund holdings of these assets.
Debt: The debt aggregate is the outstanding credit market debt of the domestic nonfinancial sectors — t h e federal sector (U.S. government, not including governmentsponsored enterprises or federally related mortgage pools) and the nonfederal sectors (state and local governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal debt consists of mortgages, tax-exempt and corporate bonds, consumer credit, bank loans,
commercial paper, and other loans. The data, which are derived from the Federal Reserve Board's flow of funds accounts, are break-adjusted (that is, discontinuities in
the data have been smoothed into the series) and month-averaged (that is, the data have been derived by averaging adjacent month-end levels). The presentation of the
debt data in this release differ, therefore, from the quarterly flow of funds statistics contained in the Federal Reserve releases Z.7 and Z.1. In those releases, published
levels of credit market debt are measured on a quarter-end basis and contain discontinuities.




Page 3

H.6 (508)
Table 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjusted
M1
Period ending
1994-OCT. 24
31

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

1151.2
1150.2

1149.2
1147.6

1149.5
1144.3

3597.9
3596.0

3594.5
3591.4

3594.0
3583.9

4251.6
4251.9

4257.6
4259.6

4262.9
4260.8

NOV.

7
14
21
28

1149.9
1149.6
1149.6
1149.5

1146.5
1145.3
1146.1
1148.0

1143.7
1143.5
1152.9
1151.9

3595.5
3594.6
3594.7
3594.7

3590.0
3587.9
3590.5
3594.7

3586.5
3587.2
3604.4
3600.6

4253.6
4255.2
4256.9
4258.6

4261.4
4262.4
4265.0
4267.7

4262.4
4263.3
4273.3
4271.7

DEC.

5
12
19
26

1149.1
1148.9
1148.6
1148.2

1149.6
1150.8
1149.3
1148.3

1150.0
1148.3
1147.0
1147.9

3594.9
3594.6
3594.5
3594.9

3597.8
3599.7
3597.1
3598.4

3598.9
3594.8
3593.9
3606.0

4260.4
4262.5
4265.0
4267.5

4269.2
4272.4
4274.6
4279.0

4268
4275
4282
4289

1995-JAN.

2

1147.5
1147.3
1147.5

1146.3
1145.7
1146.7

1141.8
1146.1
1151.1

3595.7
3596.9
3598.5

3600.2
3603.4
3608.9

3606.1
3607.7
3615.9

4270.6
4273.3
4277.6

4284.9
4288.7
4296.9

4292.2
4291.0
4315.1

9P

16p

Not seasonally adjusted
1994-OCT. 24
31

1146 . 3
1145 . 6

1148 . 4
1146 . 4

1134 . 3
1134 . 4

3591 .0
3589 . 5

3593 . 1
3590 .2

3575 .9
3570 .8

4245 . 1
4245 . 3

4252.0
4255.1

4244 . 5
4243 .4

1159
1159
1153
1148

3589
3589
3591
3593

.6
.9
.5
•3

3589 .7
3590 .0
3598 .2
3 6 0 3 . .8

3605
3608
3608
3593

4247
4250
4253
4256

.3
.0
.1
.9

4258.3
4263.8
4272.7
4280.3

4279
4288
4279
4274

NOV.

7
14
21
28

1145
1146
1147
1149

DEC.

5
12
19
26

1 1 5 0 . .3
1151,. 1
1 1 5 2 , ,8
1 1 5 6 , .4

1158, .5
1 1 6 1 . .3
1 1 6 5 , ,4
1 1 7 0 , ,7

1 1 7 1 .4
1 1 7 0 . .8
1 1 7 0 . .3
1 1 7 0 . >4

3 5 9 5 , .4
3 5 9 6 , ,6
3 5 9 8 ,> 9
3 6 0 3 ., 1

3 6 0 9 , ,0
3 6 1 3 , .2
3 6 1 5 . ,3
3620. 5

3 6 2 6 .. 1
3 6 2 5 . .2
3 6 1 6 , ,9
3 6 1 3 , ,8

4260 .7
4 2 6 4 . .3
4 2 6 9 . ,0
4 2 7 5 ,, 1

4284.5
4290.0
4295.8
4300.9

4 2 9 6 . .0
4 3 1 0 , ,0
4 3 0 3 ,, 1
4294, 6

2
9p
16p

1159. 5
1162. 0
1163. 1

1173. 5
1178. 9
1179. 2

1182, 5
1 1 9 2 . ,4
1171. 4

3607. 2
3611. 0
3613. 3

3622. 9
3630. 6
3635. 7

3635. 6
3656. 1
3637. 3

4280. 8
4285. 5
4290. 5

4303.1
4307.6
4314.5

4304. 6
4327. 9
4331. 0

1995-JAN.

.8
.5
.7
.3

1146
1147
1151
1155

.5
.0
.9
.5

.5
.8
.9
.9

.2
.2
.5
.1

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.




.3
.0
.9
.1

Page 4
H.6 (508)
Table 4

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

Other checkable deposits
Currency1

Date

Travelers checks 2

Demand deposits 3

At commercial
banks4

At thrift
institutions5

Total

In M2«

In M3 only7

1993-AUG.
SEP.

312.4
315.4

7.8
7.8

370.9
375.4

295.9
297.8

108.3
108.8

404.2
406.6

2440.8
2439.2

652.3
653.3

OCT.
NOV.
DEC.

317.6
319.5
321.4

7.8
7.9
7.9

378.4
383.2
384.8

299.1
300.8
302.6

110.4

409.5
411.8
414.3

2434.6
2438.0
2439.5

657.3
658.6
664.1

1994-JAN.
FEB.
MAR.

325.2
329.2
332.4

7.9
7.9

388.3
390.3
390.0

300.4
299.2
300.0

111.6

412.0
411.2
411.9

2441.3
2433.6
2442.0

663.4
641.1
636.1

APR.
MAY
JUNE

334.8
337 . 6
340.3

8.1

388.9
385.7
386.5

298.3
300.8
301.3

111.0
110.5
110.1

409.3
411.2
411.4

2450.4
2452.4
2442.7

638.1
633.7
641.5

JULY
AUG.
SEP.

343.2
345.4
347.4

8.2
8.3
8.4

389.1
387.5
388.0

302.4
301.1
300.1

110.1
108.7
108.1

412.5
409.7
408.2

2451.5
2447.9
2445.6

648.2
647.0
653.3

OCT.
NOV.
DEC.

350.0
352.9
353.6

8.4
8.4
8.4

385.8
383.4
383.3

297.5
297.3
297.1

106.9
105.5
105.2

404.3
402.8
402.3

2444.1
2446.7
2452.5

666.9
672.8
682.4

353.0
353.7

8.4
8.5

387.8
384.7

298.5
297.7

105.2
107.3

403.7
405.0

2451.6
2448.6

668.9
671.2

5
12
19
26

354.0
353.2
353.1
353.1

8.5
8.5
8.4
8.4

383.7
383.6
383.6
383.8

298.2
299.1
297.0
296.9

105.6
104.0
104.8
105.6

403.8
403.1
401.8
402.5

2448.9
2446.5
2446.9
2458.1

669.6
681.2
688.4
683.4

2
9p
16p

355
355
357

8.4
8.4
8.4

379.9
382.2
385.6

292.4
296.1
295.7

106.1
103.5
104.2

398.5
399.6
399.9

2464.2
2461.6
2464.7

686.1
683.4
699.2

9B4i.Bg

1994-NOV. 2 1
28
DEC.

1995-JAN.

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

8.0
8.1
8.1

111.0
111.7

112.0
112.0

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits.
Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government and foreign banks and official
institutions, less cash items in the process of collection and Federal Reserve float.
Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
Sum of 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.
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.


e
estimated


p

preliminary

Page 5
H.6(508)
Table 4 - continued

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

806. 5
799 . 9

General
purpose and
broker/
dealer
money
market funds
345 • 5
3 4 5 .0

322 ,.4
3 2 1 ., 1
317 .. 1

794. 9
790. 6
785. 7

4 6 5 , ,5
4 6 4 . ,0
462 .,6

3 1 4 , ,2
311,.1
309 .,6

1220. 7
1 2 1 5 . ,9
1207 . 2

4 6 1 . ,7
4 6 4 .. 1
466 ..7

4 2 4 . .7
4 1 8 . .8
412 ..9

1202 . 5
1 1 9 4 . ,8
1186. 6

765. 9
759. 6
7 5 2 . ,3

4 0 7 . .5
400 .,2
393 ..2

760. 8
759. 0

5
12
19
26
2
9p
16p

Savings deposits 1
Date

At
commercial
banks
7 7 5 ,.4
7 7 8 . .0

At
thrift
institutions
4 3 0 . .5
4 3 0 . .4

OCT.
NOV.
DEC.

7 7 8 . .4
782 ..4
7 8 5 . ,3

1994-JAN.
FEB.
MAR.

Small-denomination time deposits2

1205. 9
1208. 4

At
commercial
banks
4 7 8 . ,6
4 7 5 , ,4

At
thrift
institutions
327 .,9
3 2 4 . .5

4 3 0 . .4
4 2 9 . .5
430 ..2

1208. 8
1211. 9
1215. 5

472 ,,5
469 .,5
468 .,6

790,.1
791,.1
790. 2

430 ,.2
4 2 9 . .8
4 3 1 . .7

1220 . 3
1220. 9
1221. 9

APR.
MAY
JUNE

788. 2
7 8 4 . ,2
779. 2

432 ..5
4 3 1 . .7
4 2 8 . .0

JULY
AUG.
SEP.

777 . 8
776. 0
7 7 3 .,7

OCT.
NOV.
DEC.

1993-AUG.
SEP.

Week e n d i n c r
1994-NOV. 2 1
28
DEC.

1995-JAN.

1.
2.
3.
4.
p

Institutiononly money
market funds

Large-denomination time deposits 3
At
thrift
institutions
6 3 . ,9
6 3 , ,8

1 9 0 .. 1
1 9 0 .. 8

commercial
banks4
2 7 7 . .8
2 7 6 . .6

344 .4
347 ,.0
348,.8

1 9 4 .. 3
194 ,. 8
197 ,. 0

277 ,.9
2 7 5 , .9
2 7 7 . .2

63 ,,7
63 ,.5
6 1 , ,8

341.6
339.4
339.0

779. 7
775. 1
772 . 2

349 .3
345 .8
3 4 8 .2

192 ,.7
1 7 6 . .9
177 . 4

2 7 9 . .7
2 7 4 . ,7
2 7 1 ., 1

62 ., 1
6 1 . ,8
6 1 ,, 1

341.8
336.5
332.2

3 0 8 , ,3
3 0 6 .. 8
306,,1

770. 0
770. 9
772 . 8

3 5 9 .4
3 6 1 .9
356 .3

177 ,.0
1 6 9 .. 3
169,.5

2 7 0 . .7
2 7 5 .. 1
2 7 5 . .3

6 1 , .6
6 0 ,. 4
6 0 , .9

332,3
335.5
336.2

4 6 8 ..9
474 .,8
4 7 9 . .8

3 0 5 , ,9
3 0 5 , ,0
3 0 5 , ,5

774 . 8
779. 8
785. 3

3 6 1 .7
361 .1
360 ,. 5

1 7 0 .• 9
169 ,. 3
167 ,.9

2 7 6 . .7
2 7 9 . >5
2 8 4 . ,0

6 1 , .8
6 1 , ,5
62 ,,7

338.5
341.0
346.7

1173 . 4
1159. 8
1145. 5

486 ..8
4 9 3 .,9
502 .,7

3 0 8 .,9
3 1 4 ,,0
3 1 5 ,,5

795. 7
807 . 9
818 . 1

3 6 3 ,.3
3 6 8 ,• 1
3 7 4 .. 5

1 7 5 . .3
1 7 5 . .6
1 7 6 . .6

2 8 9 .. 1
2 9 4 . ,8
2 9 9 .. 1

63 ,,9
6 4 , ,2
6 4 , ,5

353.0
359.0
363.6

4 0 0 . ,7
3 9 9 . .7

1161. 6
1158. 7

494 ,.2
4 9 5 , ,3

3 1 4 . ,6
3 1 5 .,4

808. 8
810. 7

3 7 0 . ,3
370 . 1

1 7 3 ..2
1 7 1 . .0

2 9 4 , ,7
2 9 6 , .2

6 4 ., 1
64 .,2

358.8
360.3

754. 7
752.7
753 . 2
752. 3

3 9 6 . .5
393 .,5
393 ..4
3 9 2 . ,2

1151.
1146.
1146.
1144.

2
2
6
5

497 ,,8
500 .,4
503 ,, 1
5 0 5 , ,3

315 . 5
315 . 7
3 1 5 . ,3
315. 2

813 . 3
816. 1
818. 4
820. 5

3 7 0 . ,9
3 7 4 . ,2
3 7 4 . ,5
3 7 6 . ,6

1 7 1 . ,1
1 7 5 ..9
1 7 6 . .3
1 7 6 . .5

297 , 1
300 ,,0
3 0 1 , ,4
2 9 9 , .8

64 ,.3
6 4 , ,2
6 4 , .4
64 ..6

361.4
364.2
365.8
364.4

747 . 8
745. 3
744. 8

3 9 0 , ,9
3 8 8 , ,2
387 .,2

1138 . 8
1133 . 6
1132 . 0

506,, 1
508 ,,4
5 1 1 , ,6

3 1 6 . ,4
3 1 8 . ,3
3 1 9 . ,7

822 . 4
826. 6
831. 3

3 7 5 . ,8
3 7 5 .. 1
3 7 9 ., 2

1 8 3 .>3
1 8 1 . .5
1 8 3 ..4

2 9 4 , .5
2 9 4 . .4
2 9 6 . ,7

6 5 , ,4
6 6 ,. 1
6 6 ,. 4

359.9
360.4
363.1

Total

Total

Total
341.6
340.4

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.
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 he'd by money market mutual funds, depository institutions, U.S. government, and foreign banks and
official institutions.
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

1993-AUG.
SEP.

343.8
328.0

16.5
16.4

379.5
378.4

3247.9
3267.5

8873.8
8907.4

OCT.
NOV.
DEC.

170.1
170.8
171.7

323.7
324.6
329.9

16.4
15.3
14.6

384.7
384.1
386.8

3269.7
3295.5
3328.0

8941.6
8972.9
9007.4

1994-JAN.
FEB.
MAR.

172.7
173.4
174.1

339.8
341.5
344.8

14.9
15.3
15.7

391.6
403.0
389.6

3338.3
3355.1
3379.6

9041.3
9075.3
9116.4

APR.
MAY
JUNE

174.8
175.7
176.6

361.9
364.5
351.8

14.

384.9
391.0
392.6

3390.6
3402.5
3416.4

9164.6
9211.1
9239.2

JULY
AUG.
SEP.

177,
178,
179,

355.3
359.5
344.1

10.8
11.3

12.0

392.7
387.0
391.0

3419.3
3436.7
3454.0

9264.0
9312.5
9355.5

OCT.
NOV. p

1.

168.2
169.2

179,
179,

346.8
354.3

11.9
10.7

407.8
405.9

3469.4
3494.0

9387.3
9430.3

11,

10,

2.
3.
4.

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 7
H.6 (508)
Table 5

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Currency1

Date

Travelers
checks 2

Demand
deposits 3

Nontransactions components

Other checkable deposits
At commercial
banks 4

At thrift
institutions5

Total

In M26

Overnight

Overnight
Eurodollars®

In M3 only 7

8.4

367.
373,

292 . 1
295.0

107.7
108.0

399.7
403.0

2440.2
2434.8

656.1
652.9

67.
70.

14.7
14.9

8.0
7.7
7.6

381.
391.
402.

295.6
299.6
306.3

109.8
111.4
112.4

405.3
410.9
418.6

2434.3
2439.5
2436.7

653.8
661.5
660.9

72.3
73.2
74.5

17.2
17.4
17.8

324.0
327.3
330.7

7.7
7.7
7.8

393 . 1
380.6
380.6

306.8
299.6
301.6

111.2
109.5
111.3

417.9
409.1
412.9

2438.7
2435.4
2450.8

657.6
644.0
637.7

77.1
76.6

18.0
16.9
18.4

APR.
MAY
JUNE

334.4
337.4
340.6

7.8
7.9
8.3

390.2
378.8
383.4

306.3
298.1
299.4

114.3
110.7
110.7

420.6
408.7
410.1

2455.7
2447.8
2442.4

636.5
639.5
642.2

80.4
80.9
83.1

16.7
19.4

JULY
AUG.
SEP.

344.9
345.8
347.1

8.8
8.9

388.4
384.1
385.6

298.3
297.2
297.3

110.
108.
107.

408.9
405.2
404.5

2449.
2447.
2441.

644.9
650.8
653 . 1

84.2

25.7
25.4
25.1

OCT.
NOV.
DEC.

349.7
353 . 3
357.7

8.5

388.8
391.7
401.1

294.0
296.0
300.7

106.
106.
105.

400.3
402.0
406.6

2443 .
2448.
2450.

663
676
679

87.6
87.4

27.3

8.2
8.1

88.6

26.2
28.6

353.1
354.1

8.2
8.2

391.7
390.3

295.8
292 . 6

105.1
103.6

400.9
396.3

2454.6
2444.3

671.4
680.9

91.1
83.7

27.4
25.6

5
12
19
26

354.5
356.2
357.1
361.2

8.2
8.1
8.1
8.1

399.1
398.1
400.5
398.6

301.1
301.2
299.8
298.9

108.5
107.1
104.9
103.6

409
408
404
402

2454.7
2454.4
2446.5
2443.4

669.9
684.8
686.2
680.8

90.5
86.4
86.8
86.7

27.2

2
9p
16p

357.9
357.2
356.6

8.1

410.0
406.8
396.0

301.
312 .
305.

105.2

406.5
420.3
410.7

2453.2
2463.8
2466.0

669.0
671.7
693 . 7

94.8
96.3
92 . 5

34.8
33 . 2
32.0

1993-AUG.
SEP.

312 . 8
314.8

OCT.
NOV.
DEC.

317.3
319.8
324.9

1994-JAN.
FEB.
MAR.

Week e n d i n g
1994-NOV. 2 1
28
DEC.

1995-JAN.

1.
2.
3.

8.2

8.8

8.1 e
8.1 e

108.1
104.8

80.1

86.2
88.0

21.6

26.8
25.9
29.6

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.
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.
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.
8. Consists of overnight and continuing contract RPs issued by all depository institutions to other than depository institutions and money market mutual funds (general purpose and

broker/dealer).
9. Issued by
http://fraser.stlouisfed.org/ foreign branches of U.S. banks worldwide to U.S. residents other than depository institutions and money market mutual funds (general purpose and broker/dealer).
Federal Reserve Bank of St. Louis

Page 8
H.6 (508)
Table 5 - continued

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

1206.9
1206.4

At
commercial
banks
479.6
476.7

At
thrift
institutions
328.6
325.4

808 . 2
802 . 0

General
purpose and
broker/
dealer
money
market funds
343.0
340.8

430.0
430.4
429.4

1207.7
1214.4
1213.2

473.3
468.8
467.6

323.0
320.7
316.4

796.3
789 . 5
784.0

786.1
787.7
791.3

428.0
427.9
432.3

1214.1
1215.6
1223.6

465.6
463.8
462.2

314.3
311.0
309.3

APR.
MAY
JUNE

790.6
784.8
781.9

433.8
432.1
429.5

1224.4
1216.9
1211.4

461.2
463.1
466.3

JULY
AUG.
SEP.

779.6
776.5
772.4

425,
419 ,
412 ,

1205.3
1195.6
1184.6

OCT.
NOV.
DEC .

765.2
761.3
751.1

407.1
401.1
392 . 6

760.6
757.1

5
12
19
26
2
9p
16p

Savings deposits 1
Date

340.7
345.0
347.2

189.2
194.0
195.8

277.6
276.2
276.0

63.7
63.6
61.6

341.3
339.8
337.6

779.9
774.8
771.5

349.6
351.5
357.2

196.2
186.1
180.5

276.7
273.0
270.9

61.4
61.4
61.1

338.1
334.4
332.0

308 . 0
306 . 1
305.8

769.3
769.2
772.1

365.0
361.4
354.2

176,
171,
166,

270.0
277.5
277.2

61.4
60.9
61.3

331.4
338.4
338.5

469.9
475.9
481.2

306.6
305.6
306.4

776.4
781.5
787.6

358
358
355.8

167,
169
165

276.4
281.3
285.0

61.7
61.9
62.9

338.1
343.2
348.0

1172.3
1162.4
1143.7

487.7
493.1
501.5

309.5
313.5
314.8

797 ,
806,
816,

359
366,
372 ,

170.5
175.0
175.5

288 . 8
295.2
297.9

63 . 8
64.2
64.3

352.7
359.5
362.1

400 . 7
398.7

1161.3
1155.8

493.2
494.2

314.0
314.7

807.2
808.9

367.7
370.3

174.2
172.3

295.3
297.0

64.2
64.4

359.4
361.4

757.1
756.3
751.1
746 .7

397.8
395.4
392.3
389.2

1154.9
1151.6
1143.4
1135.9

496,
499 ,
501,
503 ,

314.8
314.9
314.3
314.4

811.6
814.2
816.0
818.3

370 ,
375,
374,
373 ,

169.9
177.2
176.5
175.9

297 ,
299 ,
299.
297.8

64.3
64.2
64.0
64.2

361.6
364.1
363.8
362.0

743 .7
746.5
743.1

388.8
388.9
386.4

1132.5
1135.4
1129.5

505,
508,
511,

316.1
318.3
319.9

821.8
826.8
831.8

369.3
372.1
380.1

176.7
178.0
186.7

291,
291,
293 ,

64.8
65.3
65.8

356.7
356.4
359.6

OCT.
NOV.
DEC.

777.7
784.0
783.9

1994-JAN.
FEB.
MAR.

DEC.

1995-JAN.

1.
2.
3.
4.
p

Large-denomination time deposits 3

190.1
187.5

At
thrift
institutions
430 . 8
429.7

Week e n d i n g
1994-NOV. 2 1
28

Institutiononly money
market funds

At
commercial
banks4
279.5
277 . 6

At
commercial
banks
776.0
776.7

1993-AUG.
SEP.

Small-denomination time deposits 2
Total

Total

At
thrift
institutions
64,
64,

S a v i n g s d e p o s i t s include m o n e y market d e p o s i t 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 time 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 than $ 1 0 0 , 0 0 0 . All IRA and 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 cial b a n k s and thrifts are s u b t r a c t e d from small 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 time d e p o s i t s are 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 more, excluding t h o s e b o o k e d at international banking facilities.
L a r g e - d e n o m i n a t i o n time 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 held by m o n e y market mutual 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 , and foreign
b a n k s a n d official institutions.
preliminary




Total
343.8
341.6

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

At commercial
banks

At thrift
institutions

Total

1993-AUG.
SEP.

72.0
71.2

25.6
26.0

97.6
97.3

44.1
45.2

167.8
168.7

2 c e »
342.4
326.0

OCT.
NOV.
DEC.

70.5
69.7
70.8

25.4
25.9
26.0

95.9
95.6
96.8

45.0
48.9
47.0

169.6
170.6
171.4

1994-JAN.
FEB.
MAR.

66.2
64.0
66.8

26.6
27.5
27.2

92.9
91.5
94.0

46.0
48.1
47.2

APR.
MAY
JUNE

70.3
68.1
70.5

27.6
29.1
30.6

97.9
97.1
101.1

JULY
AUG.
SEP.

70.0
67.5
67.9

32.3
33.1
33.7

OCT.
NOV.
DEC.

66.7
66.9
66.6

1395-JAN.

1.

Savings bonds

Short-term

Bankers
acceptances 4

Commercial
paper6

Federal debt

Non-Federal
debt

16.3
15.9

374.6
380.2

3229.4
3251.9

8842.9
8882.2

321.8
332.5
342.6

16.3
15.7
15.3

385.2
385.6
389.3

3249.4
3287.0
3329.5

8923.5
8954.3
8998.1

172.6
173.7
174.6

345.3
342.9
348.6

15.6
15.5
15.2

398.9
402.0
389.7

3333.0
3345.4
3374.5

9039.0
9058.2
9082.0

47.5
48.7
51.3

175.4
176.2
176.9

352.8
355.8
346.2

13.7
11.4
10.6

387.3
385.0
390.9

3376.8
3379.7
3394.5

9121.5
9166.1
9214.0

102.2
100.6
101.6

52.1
52.5
53.2

177.4
177.9
178.4

351.0
358.5
341.6

10.8
11.1

11.6

389.5
382.0
393.0

3393.9
3418.4
3438.4

9249.1
9282.5
9327.3

34.7
35.2
36.9

101.4
102.1
103.6

54.1
55.9
53.7

179.0
179.7

344.3
362.9 p

11.8
11.0 p

408.6
408.0 p

3448.7
3485.3 p

9367.6
9410.1 p

63.8
71.5

35.0
34.6

98.8
106.1

55.5
56.7

5
12
19
26

65.6
69.2
69.6
65.3

35.6
35.9
37.4
38.4

101.2
105.1
107.0
103.7

52.6
53.3
54.1
54.7

2
9p
ISp

61.6
53.0
70,0

37.1
38.1
37.7

98.7
101.1
107.8

53.5
52.5
55.2

1994-NOV. 2 1
28
DEC.

Debt components 6

Non-M3 Components of L
Term
Eurodollars2

1.
o,
6.

Term R P s a r e those with original maturities greater than o n e day, excluding continuing contracts and retail RPs.
™
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
ij] 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 c o u p o n s with remaining maturities of l e s s than 12 months held by other than depository institutions, Federal R e s e r v e Banks monev
mmket mutua) funds, and foreign entities.
r
,
,
,
r
N^t of b a n k o r ^ acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds
Tom commercial paper l e s s commercial paper held by money market mutual funds.
Hob! data are on a monthly average basis, derived by averaging adjacent end-of-monlh levels, and have b e e n adjusted to remove discontinuities.

P

preliminary

3




Page 10
H.6(508)
Table 6

MEMORANDUM ITEMS

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

Time and
savings

IRA and Keogh Accounts

U.S. government deposits
Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note
balances at
depository
institutions

Total
cash
balance

1. 6
l. 5

due to
foreign
banks and
official
institutions
11, 2
10. ,8

3.8
5.5

5. 7
9. 3

20. .0
23. 2

29. 5
37. 9

Time and
savings
deposits at
commercial
banks
3. 1
2. 8

8.3
8.2
9.1

l. 6
l. 8
l. 6

10. ,7
10. ,8
10. ,9

4.5
4.0
5.2

5. 9
5. 6
6.,7

12. 6
8.,8
16. 2

23. 1
18. 4
28. 1

1994-JAN.
FEB.
MAR.

8.5
8.4
8.1

l . ,6
l. 5
l. 6

n . ,3
n. 9
12. 5

5.7
4.2
4.3

7.,3
6. 3
5. 2

25. ,2
27. 9
15. ,7

APR.
MAY
JUNE

8.6
8.1
8.2

l. 5
l. 5
l, 5

12. ,9
13. ,0
13. , 1

7.1
4.2
5.3

5. 6
5.,9
5.,9

. JULY
AUG.
SEP.

8.3
7.7
8.1

l. 5
l. 5
l, 5

13. >4
14. ,0
14.. 6

4.8
3.9
5.8

OCT.
NOV.
DEC.

8.0
8.1
8.4

l. 6
l . .8
1.,6

14. ,9
15. .0
15. ,0

8.1
8.7

l . ,6
2.,3

5
12
19
26

9.1
8.2
8.4
8.1

2
9p
16p

8.5
7.6
8.3

Date

Foreign
commercial
banks

Foreign
official
institutions

1993-AUG.
SEP.

8.1
8.5

OCT.
NOV.
DEC.

Week e n d i n g
1994-NOV. 2 1
28
DEC.

1995-JAN.

e
p

estimated
preliminary




At
commercial
banks

At
thrift
institutions

At
money
market
funds

Total

146. 1
145. 8

117.4
116.9

47, 4
47, 5

310.9
310.2

2. 6
2, 7
2. 6

145, 2
144. 6
144. 2

116.1
115.3
114.6

48, . 1
49. 1
49. 8

309.4
309.0
308.6

38. 3
38. 4
25. 1

2, 1
2. 6
2. 4

143. 9
143. 6
142. 6

114.0 e
113.4 e
112.9 e

48. ,6 a
48. 6 e
51., 8 e

306.5 e
305.6 e
307.3 e

20. ,8
24. .3
18.,4

33. 5
34. 4
29. 6

2. 1
3. 1
2. 9

142. 2
142. 2
142. 3

112.6 e
112.2 e
111.5 e

54.,8 e
56.,4 e
56..8 e

309.6 e
310.9 e
310.6 e

5..4
5., 1
6.,0

11.,3
10., 1
16., 9

21. 5
19. 0
28. 8

2. 7
2, 9
2. 5

142, 6
142. 6
142. 7

111.7 e
111.7 e
111.6 e

56.,2 e
56.. 9 e
57.,5 e

310.5 e
311.2 e
311.8 e

4.3
3.9
5.7

5..6
5.. 2
6,.2

12., 1
9.,8
13, .4

22. 0
18. 9
25. 3

2. 2
2.,0
1.,3

142. 7
142. 9
143. 2

111.7 e
111.7 e
111.6 e

58,. 1 e
58, , 5 e
59, .0 e

312.5 e
313.1 e
313.7 e

14, .9
15, .0

4.3
3.9

4,.9
5,. 1

6,.3
7,.9

15. 5
16. .9

1.,9
1.,8

1..6
1,,6
1..4
1,,7

15, .0
15, .0
15, .0
15, .0

4.5
3.7
9.4
4.5

4,.6
5 .8
5 .8
7 .2

9 .7
2 .0
22 .8
15 .7

18. ,7
11.,5
38. ,0
27. .4

1..9
0.,7
0..7
1.,7

1..7
1,.6
1.,5

15 .0
15 .0
15 .0

6.4
4.8
4.7

7 .4
7 .3
6 .8

16 . 8
13 .9
17 . 8

30. ,6
26. ,0
29, .4

1,,7
0,.8
0,,8

H.6 (508)
Special Supplementary Table

Monthly Survey of Selected Deposits 1
November 30,1994 and December 31,1994
(not seasonally adjusted)

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

Nov. 30

Dec. 31

NOW Accounts

294,276

303,712

746,618
584,645
161,973

Change
(percent)

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

Nov. 30

Dec. 31

3.21

1.92

1.96

734,489
578,529
155,961

-1.62
-1.05
-3.71

2.81
N.A.
N.A.

2.91
N.A.

10
N.A.

N.A.

N.A.

31,312
94,573
159,697

32,495
95,729
161,900

3.78
1.22
1.38

3.81
4.44
5.12

13
22
27

2-'/ 2 years and over

158,417
189,243

162,461
190,958

2.55
0.91

3.68
4.22
4.85
5.42
6.09

5.74
6.30

32
21

All IRA/Keogh Plan deposits3

143,075

143,321

0.17

N.A.

N.A.

N.A.

Savings Deposits
Personal
Nonpersonal

2

Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:
7 to 91 days
92 to 182 days
183 days to 1 year

1 to 2-Vz year

4

BIF-insured Savings Banks 4
Amount Outstanding ($mil.)
Liability Categories

Nov. 30

Dec. 31

10,998

11,317

72,597
69,387
3,210

92 to 182 days
183 days to 1 year

2,205
11,895
18,483

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

NOW Accounts
Savings Deposits
Personal
Nonpersonal

2

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

All IRA/Keogh Plan deposits3

Change
(percent)

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

Nov. 30

Dec. 31

2.90

1.91

1.95

4

70,643
67,674
2,969

-2.69
-2.47
-7.52

2.83
N.A.
N.A.

2.89
N.A.
N.A.

6
N.A.
N.A.

2,166

-1.75

3.49

11,793
18,753

-0.86
1.47

4.41
5.15

3.78
4.88
5.49

47

17,932
21,652

17,802
21,598

-0.72
-0.25

5.68
6.16

6.06
6.40

38
24

19,521

19,312

-1.07

N.A.

N.A.

N.A.

29
34

N.A. — data are not available
NOTE: Data for earlier month may show revisions. As of October 31, 1994, interest rate data for NOW accounts and savings
deposits reflect a series break caused by a change in the survey used to collect these data.
1. Estimates are based on data collected by the Federal Reserve System from a stratified random sample of about 425 commercial
banks and 77 savings banks. All rates are expressed as annual effective yields.
2. Includes personal and nonpersonal money market deposit accounts.
3. Total IRA and Keogh Plan deposits regardless of size, type of instrument in which held, or interest rate paid.
4. BIF-insured savings banks include both mutual and federal savings banks.