Full text of H.6 Money Stock Measures : January 29, 1987

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

FEDERAL RESERVE statistical release
These data are scheduled for release each Thursday at 4:30 p.m.
"ALKt&;.

H.6 (508)
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

JANUARY

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

Date

M3
M2
M1 plus overnight RPs
M2 plus
and Eurodollars,
large time deposits,
MMMF balances (gen. pur. term RPs,termEurodollars
and broker/dealer), MMDAs,
and institution-only
and savings and small
MMMF balances3
2
time deposits
Seasonally adjusted

29,

L

Debt

M3 plus other
liquid assets4

Debt of domestic
nonfinancial sectors5

1985—DEC

626.6

2566.5

3201.2

3839.5

6778.6

1986—JAB.
FEB.
HAB.
APH.
HAT
JUHE
JUL*
AUG.
SSPT.
OCT.
NO?.
DEC P

627.2
631.0
638.4
646.1
658.7
666.8
676.0
687.6
693.2
701.2
713.5
730.4

2569.9
2577.7
2592.4
2622.2
2649.7
2670.8
2699.2
2724.3
2740.8
2765.2
2781.4
2804.5

3224.5
3241.5
3262.6
3293.7
3315.4
3339.0
3375.1
3400.7
3425.6
3444.5
3461.4
3488.1

3862.2
3881.2
3895.1
3918.6
3951.0
3973.5
4003.5
4031.1
4059.4
4082.3
4112.2

6878.5
6923.3
6968.5
7029.1
7101.3
7172.2
7238.1
7314.8
7387.2
7444.4
7519.3

1987

Wot seasonally adjusted
1985—DEC

639.9

2574.7

3213.9

3845.7

6772.0

1986—JAB.
FEB.
HAB.
APE.
HAT
JUHE
JULT
AUG.
SEPT.
OCT.
NOV.
DEC P

633.5
619.2
630.5
652.9
651.3
669.2
679.8
684.6
690.7
698.4
715.0
746.0

2578.7
2570.9
2594.5
2631.8
2640.7
2673.0
2704.6
2719.2
2731.5
2759.2
2779.3
2814.7

3232.2
3233.4
3262.9
3300.2
3308.6
3339.7
3372.6
3395.4
3418.3
3440.4 *
3465.Q
3503.3

3867.4
3873.6
3899.3
3928.7
3937.7
3973.7
4003.6
4027.5
4054.3
4078.1
4115.2

6872.4
6906.2
6945.0
7001.9
7069.0
7137. 1
7203.2
7284.6
7365.4
742b.8
7503.5

M1
For period ended
13-week average

Seasonally adjusted
4-week average

week average

13-week average

Not seasonally adjusted
4-week average

week average

1986-DEC.

1
8
15
22
29

703.0
705.0
707.5
710.3
714.0

714.8
716.7
719.2
724.1
729.0

721.8
721.0
722.4
731.1
741.6

702.0
704.5
707.5
712.1
718.3

716.2
721.1
725.7
735.6
743.5

725.3
736.0
735.8
745.3
756.7

1987-JAN.

5
12 P
19 P

717.7
720.7
723.0

736.1
739.2
739.5

749.4
734.8
732.2

724.7
729.1
732.0

756.5
761.9
760.4

788.1
757.4
739.4

MOTE:

SPECIAL CAUTIOM SHOULD BE, TAKEM I I INIBHPBBTIHG
HIGHLT VOLATILE AMD SUBJECT SO. B E V I S I O I .
P—INDICATES PBELIHINABT DATA.
FOOTNOTES APPEAR ON THE FOLLOWING PAGE




iEEK-TO-NEEK CHAHGES I I

HOIEI SUPPLT DATA# iHICH AkE

H.6 (508)
Table 2

MONEY STOCK, LIQUID ASSETS AND DEBT MEASURES
Percent change at seasonally adjusted annual rates

2
M1

M2

Debt1

M3

3 MONTHS FROM SEPT. 1986 TO DSC.

1986

21.5

9.3

7.3

11.2

6 MONTHS FB08 JUNE

1986 TO DEC.

1986

19.1

10.0

8.9

11.9

12 NONTHS FROM DEC.

1985 TO DEC.

1986

lto.0

9.3

9.0

1i-0

THIRTEEN REEKS ENDING JAN. 1 9 , 1987
FBO0 THIRTEEN REEKS ENDING:
OCT.

2 0 , 1986 (13 WEEKS PBEYIOUS)

18.5

JUL!

2 1 , 1986 (26 WEEKS PBEYIOUS)

17.7

JAN.

2 0 , 1986 (52 REEKS PBEYIOUS)

16.0
. •—

1/

1/

2/

3/

4/
5/

> i a r t — - i ••••

•

i—

GBOHTB BATES FOB DEBT ABE BASED ON PEBIODS BEGINNING AND ENDING ONE HOHTH EABLIBB THAN FOB THE MONETARY AGGREGATES,
NAMELY, AUGUST 1986 TO NOVEMBER 1986, MAX 1986 TO NOVEHBEB 1986, AND NOVEHBEB 1985 TO NOVBHBEB 1986, RESPECTIVELY.
FOOTNOTES TO TABLE 1
CONSISTS OF (1) CUBBENCY OUTSIDE THE TREASURY, FEDEBAL BES£BYB BANKS, AND THE VAULTS OF COHHEBCIAL BANKS;
(2) TBAVELEBS CHECKS OF NONBANK ISSUSBS; (3) DEflAND DEPOSITS AT ALL COHHEBCIAL BANKS OTHEB THAN THOSE DUE TO
DOMESTIC BANKS, THE U.S. GOYEBNHENT, AND FOBEIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEHS IN THE PBOCESS
OF COLLECTION AND FEDEBAL BESEBYE FLOAT; AND (4) OTHEB CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE OBDEB
OF WITHDRAWAL (NOR) AND AUTOMATIC TRANSFER SERVICE (ATS) ACCOUNTS AT DEPOSITOBI INSTITUTIONS,
CREDIT UNION SHABE DBAFT ACCOUNTS AND DEHAND DEPOSITS AT THRIFT INSTITUTIONS. THE CUBBENCY AND DEHAND
DEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AND DEHAND DEPOSITS, RESPECTIVELY, HELD BY
THRIFT INSTITUTIONS TO SEBVICE THEIB OCD LIABILITIES.
CONSISTS OF H1 PLUS OYEBNIGHT (AND CONTINUING CONTBACT) BPS ISSUED BY ALL COHHEBCIAL BANKS AND OVERNIGHT EOBOOOLLABS
ISSUED TO U.S. BESIDENTS BY FOBEIGN BBANCHES OF U.S. BANKS WORLDWIDE, HHDAS, SAVINGS AND SMALL DENOMINATION
TIME DEPOSITS (TIME DEPOSITS—INCLUDING RETAIL BPS-IN AMOUNTS OF LESS THAN $100,000), AND BALANCES IN BOTH
TAXABLE AND TAX-EXEMPT GENERAL PURPOSB AND BROKER/DEALER MONEY MARKET MUTUAL FUNDS. EXCLUDES IBA AND KBOGH
BALANCES AT DEPOSITOBY INSTITUTIONS AND MONEY MARKET FUNDS. ALSO EXCLUDES ALL BALANCES HELD BY U.S. COMMERCIAL
BANKS, HONEY MABKET FUNDS (GENEBAL PUBPOSE AND BBOKER/DBALEB) , FOBEIGN GOVEBNHENTS AND COMMERCIAL BklHiS0 AND
THE U.S. GOYEBNHENT. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT BSPBESENTS THE ESTIMATED AMOUNT
OF DEMAND DEPOSITS AND VAULT CASH HELD BY THBIFT INSTITUTIONS TO SEBVICE THEIR TIME AND SAVINGS DEPOSITS.
CONSISTS OF M2 PLUS LARGE DENOMINATION TINE DEPOSITS (IN AMOUNTS OF $100,000 OB MOBE) AND TEBM BP LIABILITIES ISSUED
BY COMMERCIAL BANKS AND THBIFT INSTITUTIONS, TEBM EURODOLLARS HELD BY U.S. RESIDBUTS AT FOBEIGN BBANCHES 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 MABKET MUTUAL FUNDS. UlCLUDES AMOUNTS HELD BY DEPOSITOBY INSTITUTIONS, THE U.H. GOYEBNHENT, HOMEY
MABKET FUNDS, AND FOBEIGN BANKS AND OFFICIAL INSTITUTIONS. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS
THE ESTIMATED AMOUNT OF OVERNIGHT BPS AND EUBODOLLARS HELD BY INSTITUTION-ONLY HONEY MARKET MUTUAL FUNDS.
CONSISTS OF H3 PLUS THE NONBANK PUBLIC HOLDINGS OF U.S. SAVINGS BONDS, SHORT-TERM TBEASUBY SECURITIES, COHHEBCIAL
PAPEB AND BANKEBS ACCEPTANCES, NET OF MONEY MABKET MUTUAL FUND HOLDINGS OF THESE ASSETS.
DEBT OF DOMESTIC MONF1NANCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MABKET DEBT OF THE UNITED STATES GOYEBNHENT,
STATE AND LOCAL GOVEBNHENTS AND PRIVATE NONFINANCIAL SECTORS. PRIVATE DBBT CONSISTS OF CORPORATE BOMUS, 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 FLOW OF FUNDS ACCOUNTS. ALL DATA ON DEBT OF DOMESTIC
NONFINANCIAL SECTORS ARE PRESENTED IN MONTH-AVERAGE FORM, DKkLl^^D BY AVERAGING MONTH-END L&^HLS OF ADJACENT MONTHS. THESE
DATA HAVE ALSO BEEN ADJUSTED TO REMOVE STATISTICAL DISCONTINUITIES THAT HAY ARISE IN THE UNDERLYING FLOW OF FUHDS STATISTICS.
THE PRESENTATION OF DEBT DATA IN THIS RELEASE Dllft^US0 THEREFORE, FROM THE QUARTERLY FLOW OF FUNDS STATISTICS CONTAINED
IN THE Wl&DEBLkL TLESE&^E RELEASES £.7 AND Z. 1. IN THOSE RELEASES, PUBLISHED L&VELS OF CREDIT HARKET DEBT ARE MEASURED ON
A OUARTER-BND BASIS AND INCLUDE DISCONTINUITIES.




H40MI

COMPONENTS OF THE MONEY STOCK
Nonas*mcttom
Oft*

Cwnwcy*

DsfnsfM
tftposMs*

1

ohscfcs

Othsr
checks**

"Tin

4

IfiMf*

dsposHs

onty*

r "
r^™^^ -

'

- A^^jg^^^

*

l

J^SMM^RMBRBI^

«t

p~~

thrtft
I
I osmmiwjlrt I
|
DOnNS
iwtiUiMom

it
total

oommsfCMR

thrtlt

DOWNS

IWtlWUllOIW)

I

total

bfpsjs llmt dsiunlts"
T
i |

COIIMIISfONM 1

PMIfl

1

tOvSf

271.5

178.6

1939.9

634.6

124.5

179.1

303.6

384.1

496.2

860.3

bonks1* tnotttyttons
157.3
279.2

5.9
5.9
6.1

268.9
269.2
273.2

180.5
183.1
185.3

1942.7
1946.6
1954.0

654.6
663.8
670.2

124.7
125.0
125.6

179.3
179.9
181.2

304.0
304.9
306.9

386.6
388.1
389.0

499.4
502.9
505.7

885.9
891.0
894.7

289.7
291.5
287.1

158.2
159.7
163.4

447.9
451.3
450.5

174.4
175.8
176.7 j

6.1
6.1
6.2

275.7
281.6
284.9

189.9
195. 1
199.0

1976.1
1991.1
2004.0

671.6
665.6
668.2

126.6
129.0
130.9

184.8
189.5
194.1

31U4
318.5
325.0

388.0
384.9
381.7

507.9
506,3
503.9

695.9
891.2
885.6

287.1
281.5
280.5

165.0
164.9
164.6

452.1
446.4
445.1

JULI
AUG.
SEPT.

177.5
179.0
179.7

6.4
6.5
6.5

288.3
291.8
292.2

203.8
210.4
214.8

2023.2
2036.7
2047.6

675.9
676.4
684.8

133.4
136.8
140.9

197.8
200.8
203.5

331.2
337.6
344.4

380.0
376.0
372.6

503,7
50U2
498*7

883.7
877.2
871.3

280.1
281.9
281.4

165,6
166.1
165.8

445.9
446.0
447.1

OCT.
HOY.
DEC. P

181.2
182.2
183.5 !

6.4
6.4
6.4

293.2
298.4
307.9

220.4
226.4
232.7

2064.0
2067.9
2074.0

679.3
680.0
683.6

145.7
150.4
154.6

208.1
212.9
216.8

353.6
363.3
371.4

3*7.7
363.9
362.8

494.0
490.9
489.6

861.8
854.9
652.4

278.9
281.0
283.4

164.0
161.6
160.8

442.9
442.8
444.2

1985-DBC.

170.6

1986-JAH.
FEB.
BAR.

171.9
172.9
173.9

APR.
BAT
JUBE

—-

I

|

436.5

BEER BRDIBG
1986
DSC.

1987
JAR.

1
8
15
22
29

182.8
182.4
182.8
183.1
184.9

5
12 P'
19 P

185.1
185.2
186.2

i

i

\

(

304.1
302.8
302.6
307.8
314.1

228.4
229.4
230.5
233.8
236.2

'

319.7
303.1
299.3

238.2
240.1
240.3

,-T-

1/
2/
3/

4/
5/
6/
7/
8/
9/
10/

1

f

i
i

;
•

.
1

!

:•

152.3
153.0
154.0
155.2
156.0

_ ^ ^

157.6
158.9
159.9

I

363.3
362.6
362.5
362.1
363.6

j

364.0
363.6
363.2

280.0
281.2
281.3
282.7
287.7
287.9
289.6
290.8

M H M H M i

i
i

CUBRERCT OUTSIDE TBE U.S. TREASURY, FEDERAL RESERVE BARKS ARD YAULTS OF COflBERCIAL BABKS. EXCLUDES THE ESTIHATED
ABOURT OF YAULT CASB HELD BT THRIFT INSTITUTIORS TO SERYICE THEIR OCD LIABILITIES.
OUTSTABDIBG ABOURT OF U.S. DOLLAR-DEHOHIHATED TRAYELERS CHECKS OF BOBBARK ISSUERS. TRAVELERS CHECKS ISSUED BX DBPOSITOBT
INSTITUTIORS ARE IRCLODED IR DEBARD DEPOSITS.
DEBARD DEPOSITS AT COBHERCIAL BARKS ARD FOREIGR RELATED IRSTITOTIORS OTHER THAR THOSE DUE TO DOMESTIC BARKS. TBE U.S. GOVERHHBHT ARD FOREIGR BABKS AHD OFFICIAL IHSTITUTIORS LESS CASH ITERS IR THE PROCESS OF COLLECTIOR ARD tEDEBkL RESERYE FLOAT.
EXCLODES THE ESTIMATED AHOUBT OF DEBARD DEPOSITS HELD AT COBHERCIAL BABKS BI THRIFT IHSTITUTIORS TO SERVICE TBBIR OCD
LIABILITIES.
CORSISTS OF HOB AHD ATS BALARCES AT ALL DEPOSITORY IRSTITOTIORS, CREDIT UHIOH SHARE DRAFT BALARCES ARD
DBHARD DEPOSITS AT THRIFT IHSTITUTIORS. OTHER CHECKABLE DEPOSITS SBASOHALLI ADJUSTED EQUALS THE DIFFEREHCE BETHBEH THE
SEASOBALLI ADJUSTED SUB OF DEBARD DEPOSITS PLUS OCD AHD SBASOHALLI ADJUSTED DEHAHD DEPOSITS.
SUB OF OVBRHIGBT RPS AHD OYBRHIGHT EURODOLLARS, BOHBI BARKET FURD BALARCES (GERBRAL PURPOSE AHD BROKER/DEALER),
BHDAS, AHD SAVIRGS AHD SHALL TIHE DEPOSITS, LESS THE COBSOLIDATIOH ADJUSTBERT TRAT REPRBSEJITS THE ESTIBATED ABOURT OF
DEHAHD DEPOSITS AHD VAULT CASH HELD BI THRIFT IHSTITUTIORS TO SERVICE THEIR TIHE AHD SAVIRGS DEPOSITS LIABILITIES.
SUH OF LARGE TIHE DEPOSITS, TERR RPS AHD TBRfl EURODOLLARS OF U.S. B ESI DEBITS, HO HEY HARKET FURD BALARCES (IHSTITUTIOROHLI), LESS A COHSOLIDATIOH ADJUSTBERT THAT RBPRESEBTS THE ESTIBATED ABOURT OF OVERRIGHT BBS AHD EURODOLLARS HELD BI
IHSTITUTIOH-OHLI HOBBY HARKET FUHDS.
SAVIHGS DEPOSITS EXCLUDE BHDAS.
SHALL DEBOBIBATIOH TIHE DEPOSITS—IHCLUDIHG RETAIL R P S — ARE TBOSB ISSUED IR AHOUHTS OF LESS THAH $100,000. ALL
IHDIVIDUAL RETIRBHEHT ACCOUNTS (IRA) AHD KEOGH ACCOUBTS AT COBHERCIAL BABKS ABD THRIFTS ARE SUBTRACTED FROR SHALL
TIHE DEPOSITS.
LARGE DEHOHIHATIOH TIHE DEPOSITS ARE THOSE ISSUED IH AHOUHTS OF $100,000 OR HORE, EXCLUDIHG THOSE BOOKED AT
IRTERHATIOHAL BAHKIHG FACILITIES.
LARGE DEHOHIHATIOH TIHE DEPOSITS AT COBBEBCIAL BARKS LESS THOSE HELD BI BORE! HARKET BUTUAL FU9DS,
DEPOSITORY IHSTITUTIORS AND FOREIGR BARKS AHD OFFICIAL IHSTITUTIORS.




H.6 (508)
Table 4

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

4
savings bonds

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

4

'

commercial paper'

Debt components
federal debt
non-federal debt

1985-BOY.
DEC.

79.0
79.5

300.7
308.4

43.1
41.1

196.4
209.5

1551.0
1587.0

5100.8
5191.6

1986-JAB.
FEB.
BAB.

79.9
80.5
81.1

305.6
307.8
300.3

41.6
42.4
41.7

210.6
209.2
209.5

1607.9
1621.0
1628.5

5270.6
5302.4
5340.1

APE.
BAY
JUNE

81.8
82.6
83.4

299.1
306.2
300.2

41.0
40.1
40.3

203.0
206.7
210.6

1641.5
1665.1
1691.9

5387.7
5436.2
5480.3

JULY
AOG.
SEPT.

84.3
85.3
86.4

292.5
288.6
289.4

39.4
37.3
36.7

212.3
219.3
221.1

1712.6
1725.1
1741.6

5525. 4
5589.7
5645.7

87.8
89.9

287.6
298.7

38.1
37.8

224.3
224.3

1755.9
1779.4

5688.5
5739.9

OCT.
BOY.

1/
2/
3/
4/

P

COBSISTS OF U.S. TBEASOBY BILLS ABD COOPOBS WITB BEBAIBIBG BATOBITIBS OF LESS TBAB 12 BOBTBS BELD BY OIBBB TBAB DBPOSITOBY
IBSTITUTIOBS, FEDERAL BESBBVB BABKS, BOBEY BABKET BUTUAL FUBDS ABD FOBEIGB EBTITIES.
BET OF BkHKBBS ACCEPTABCES HELD BY ACCBPTIBG BABKS, FEDEBkL BBSBB1B BABKS. FOBEIGB OFFICIAL IBSTITUTIOBS, TBB FBDBBAL
AOflE LOAB BABK SYSTEB ABD BOBEY BABKET MUTUAL FQEDS.
TOTAL COBBEBCIAL PAPEB LESS COBBEBCIAL PAPEfi HELD BY BOBEY BABKET BOTOAL FOBDS.
DEBT DATA ABE OB A BOBTBLY AVEBAGB BASIS, DEBITED BY AYBBAGIBG EBD-OF-BOBXB LEVELS OF ADJACEBT BOBTBS, ABD BAVB BBIB
ADJUSTED TO BBflOVB DISCOBTIBUITIES.




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
Oate

1985-DBC

Currency

Travelers
checks2

173.1

5.5

1

Demand
deposits3

281.3

at commercial
banks4

125.8

at thrift
institutions6

total

inM2*

54.4

180.1

1934.7

In M3 only

Overnight
RPs*

7

Overnight
Eurodollars9

General
purpose and
broker/dealer
money market
funds

639.2

53.3

17.0

176.5

1945. 1
1951.8
1963.9

653.5
662.5
668.4

50.1
52.4
51.2

18.8
16.1
16.4

177.7
181.0
186.2

1986-JAN.
FEB.
HAB.

170.5
170.6
172.3

5.5
5.6
5.8

275.1
262.0
267.1

128.1
126.8
129.3

54.3
54.2
56.0

182.4
181.0
185.3

APB.
HAT
JONE

173.6
175.8
177.4

5.8
5.9
6.5

278.7
276.7
285.6

134.8
132.9
136.6

59.9
60.5
63.0

194.7
193.4
199.6

1978.9
1988.9
2003.8

668.4
667.9
666.7

51.1
51.6
49.9

17.5
17.6
16.6

191.4
193.2
197.3

JOLI
AUG.
SEPT.

179.1
179.9
179.5

7.2
7.3
6.9

290.0
289.0
290.8

139.0
142.7
146.7

64.5
65.8
66.8

203.5
208.5
213.5

2024.8
2034.6
2040.7

668.1
676.2
686.9

54.7
57.5
55.4

17.2
17.1
17.3

199.7
200.5
202.2

OCT.
NOT.
DEC P

180.9
183.2
186.1

6.5
6.1
6.0

292.5
299.6
318.9

150.2
155.4
162.5

68.3
70.6
72.4

218.5
226.0
235.0

2060.8
2064.3
2068.7

681.2
685.7
688.6

57.8
57.0
56.5

19.4
18.8
19.2

206.9
207.0
207.2

MEEK ENDING:
1986-DBC

1
8
15
22
29

184.1
185.5
185.4
186.7
187.6

307.8
310.0
311.3
317.9
327.8

156.6
161.2
161.0
162.8
163.8

70.8
73.4
72.2
72.0
71.5

227.4
234.6
233. 2
234.8
235.3

54.6
57.6
56.9
56.8
54.3

17.2
17.7
18.8
20.2
19.5

206.7
206.5
207-7
208.1
206.8

1987-JAN.

5
12 P
19 P

186.0
185.1
184.5

348.4
318.4
305.5

172.6
173.0
170.1

75.2
74.9
73.4

247.8
247.9
243.5

58.9
61.6
58.4

22.6
25.4
20.5

206.2
208.4
209.2

-

1/
2/
3/
4/
5/
6/
7/
8/
9/

i

L

CUBBBNCT OUTSIDE THE O.S. THEASURT, FEDEBAL BBSEfifE BANKS ANO THE fAOLTS OF COHHBBCIAL BANKS. BXCL0DES THE BSTIHATBD
AHOUNT OF TAULT CASH HELD BT THBIFT INSTITUTIONS TO SEB7ICE THEIB OCD LIABILITIES.
OUTSTANDING AHOUNT OF U.S. DOLLAR-DBNOHIHATBD TBATSLBBS CHECKS OF MONBABK ISSUERS. TBAfELEBS CHECKS ISSUED Bl DEPOSITQBT
INSTITUTIONS ABE INCLUDED IN DEHAND DEPOSITS*
DEHAND DEPOSITS AT COHHEBCIAL BANKS OTHER THAN THOSE DUE TO DOHESTIC BANKS, THE U.S. GOfBRHHBNT AND FOREIGN BANKS AND
OFFICIAL INSTITUTIONS, LESS CASH ITERS IN THE PBOCESS OF COLLECTION AND F^B. FLOAT, LESS THE ESTIMATED AHOUNT OF DEHAND
DEPOSITS HELD AT COHHEBCIAL BANKS BT THBIFT INSTITUTIONS TO SBBflCB THEIB OCD LIABILITIES.
CONSISTS OF NOV AND ATS BALANCES AT COHHEBCIAL BANKS, U.S. BBANCHES AND AGENCIES OF FOBEIGN BkUHS, AND EDGE ACT
CORPORATIONS.
CONSISTS OF NOR AND ATS BALANCES AT SAflNGS.AND LOAN ASSOCIATIONS AND HOTUAL SAflNGS BANKS, CBEDIT UNION SHARE
DRAFT BALANCES, AND DEHAND DEPOSITS AT THBIFTS.
«
SUH OF OfBENIGHT BPS AND EURODOLLARS, HONBT HARKET FUND BALANCES (GBMBBkL POBPOSE AND BROKER/DEALER), HHDAS AND SAflNGS
AND SHALL TIHE DEPOSITS LESS THE BSTIHATED AHOUNT OF DEHAND DEPOSITS AND TAULT CASH HELD BT THBIFT INSTITUTIONS TO SBBflCB
THEIB TIHE AND SAflNGS DEPOSIT LIABILITIES*
SUH OF LABGE TIHE DEPOSITS, TEfifl BPS AND EURODOLLARS OF U.S. RESIDENTS, HONET HABKET FUND BALANCES (INSTITUTION-ONLY), LESS A
CONSOLIDATION ADJUSTHENT THAT REPRESENTS THE BSTIHATBD AHOUNT OF Of BENIGHT RPS AND EURODOLLARS HELD Bl IHSTITDTION-ONLI
HONET HARKET HOTUAL FUBDS^
CONSISTS OF OTERNIGHT AND CONTINUING CONTRACT RPS ISSUED BT COHHEBCIAL BANKS TO OTHEB THAN DEPOSITOBT INSTITUTIONS AND
HONET HABKET HUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER).
ISSUED BT FOREIGN BRANCHES OF U.S. BANKS NORLDRIDE TO U.S. RESIDENTS OTHER THAN DEPOSITORI INSTITUTIONS AND
HONET HARKET HUTUAL FUNDS (GENERAL PURPOSE AMD BROKER/DEALER).




H.6 (508)
Table 5-contlnued

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

Date

Money market deposit accounts
a!
1
at
total
commercial
thrift
institutions
banks

Savings deposits1
at
_
r
thrift
commercial
banks
institutions

total

Small denomination time deposits2
at
1
at
commercial
thrift
total
banks
institutions

Large denomination time deposits3
al
1
at
thrift
total
commercial
banks4
institutions

1985--DEC.

332.4

179.6

512.0

123.5

178.3

301.8

384.8

497.6

882.5

280.9

157.8

438.7

1986-- J A N .
FEB.
HAB.

336.7
337.0
340.4

179.0
179.4
180.2

515.7
516.3
520.5

123.9
123.6
124.9

178.8
179.1
181.6

302.7
302.7
306.5

386.5
387.1
387.2

502.6
504.6
504.6

889.1
891.7
891.8

288.6
290.4
287.7

159.0
160.7
163.2

447.6
451.1
450.9

APE.
HAY
JUNE

344.8
348.6
355.2

180.4
182.2
185.2

525.2
530.8
540.4

127.2
129.5
132.2

185.8
190.3
194.8

312.9
319.9
327.0

384.5
382.3
380.6

505.1
502.4
501.0

889.6
884.7
881.6

283.6
280.8
278.8

164.1
164.4
164.1

447.7
445.2
443.0

JULI
AUG.
SEPT.

359.0
363.5
368.1

187.1
189.5
190.2

546.1
553.1
558.3

135.1
137.3
140.7

198.8
199.7
202.5

333.8
337.0
343.2

379.8
377.9
375.1

502.7
500.5
498.4

882.6
878.5
873.6

279.1
282.3
283.5

164.7
166.0
165.7

443.8
448.2
449.2

OCT.
NOY.
DEC. P

371.7
375.1
378.1

192.1
193.0
192.5

563.8
568.1
570.6

146.0
149.9
153.5

208.7
213.0
215.8

354.8
363.0
369.3

370.4
365.9
363.6

496.9
493.8
491.3

867.3
859.6
855.0

281.6
282.8
285.2

164.4
162.5
161.2

446.0
445.3
446.4

HBEK B I D I N G
1986
DEC.

1986
JAN.

1/
2/
3/
4/

1
8
15
22
29

376.3
377.3
378.2
377.3
378.8

151.4
152.6
153.1
153.5
154.3

364.8
364.1
363.6
362.9
363.7

282.4
283.3
283.5
284.2
288.9

5
12 P
19 P

382.8
383.1
380.7

157.2
158.4
158.8

364.3
363.8
363.4

290.3
288.8
288.8

SAYINGS DEPOSITS EXCLUDE BHDAS.
SHALL DENOHINATION TIHE DEPOSITS — INCLUDING BETAIL EPS ~ ABE THOSE ISSUED IN AHOUNTS OF LESS THAN $100,000. ALL
INDIVIDUAL BETIBEHENT ACCOUNTS (IBA) AND KEOGH ACCOUNTS AT COHHEBCIAL BANKS AND THBIFTS ABE SOBTBACTED FBOH SHALL
TIHE DEPOSITS
LABGE DENOHINATION TIHE DEPOSITS ABB THOSE ISSUED IN AHOUNTS OF $ 1 0 0 , 0 0 0 OB HOHE, EXCLUDING THOSE BOOKED AT IHTEBNATIOHAL
BANKING FACILITIES (IBFS).
LABGE DENOHINATION TIHE DEPOSITS AT COHHEBCIAL BANKS LESS THOSE HELD BY HONEY HABKET HUTUAL eUXDS. DBPOSITOBY
INSTITUTIONS AND FOBEIGN BANKS AND OFFICIAL INSTITUTIONS.




H.6 (508)
Table 5-continued

COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT
Billions of dollars, not seasonally adjusted
TermRPs1

I
Date

Institution
only money
market fundi
64.6

1985-DBC.

at commercial
banks
32.1

at thrift
Institutions
33.9

|
total

66.0

Term
Eurodollars1
76.7

Savings
bonds

Hon M3 Components of L
Short-term
treasury
* Bankers
securities*
acceptance*4

1^
Commercial
P«P+r*

Components of Debt
Non-Federal*
debt

Federal debt*

79.6

305.6

42.1

204.6

1583.7

5188.3

42.4
42.2
40.8

207.5
208.8
207.9

1606.7
1621.0.
1633.3

5265.7
5285.1
5311.8

205.2
207.0
213.3

1644.6
1660.7
1678.9

5357.2
5408.3
5458.2

1986-JAN.
FEB.
BAR.

67.3
67.7
70.2

33.7
35.8
37.2

35.1
34.7
34.4

68.8
70.6
71.6

76.0
79.2
82.7

80.0
80.5
81.1

305.3
308.6
306.5

APR.
HAT
JUNE

74.1
76.1
75.0

35.6
35.4
33.8

35.9
38.7
41.6

71.5
74.2
75.3

81.5
79.8
80.1

81.8
82.6
83.4

301.7
299.9
297.5

39.9
39.6
39.8

JULI
AUG.
SEPT.

77.5
80.8
84.4

33.1
33.9
35.5

41.9
41.6
42.$

75.0
75.5
78.0

78.6
78.4
81.8

84.2
85.2
86.4

293.5
292.3
290.6

39.2
37.9
37.4

214.0
216.6
221.4

1695.6
1713.3
1734.5

5507.6
5571.3
5630.9

OCT.
NOV.
DEC P

84.5
84.4
64.1

34.1
36.7
34.7

43.7
45.1
46.3

77.8
81.8
81.1

79.P
80.2
83.3

87.8
89.9

287.3
294.7

38.0
38.0

224.6
227.6

1748.6
1771.8

5678.2
5731.7

|

!

.

WEEK ENDING:
198 6 - D E C

i
1987-JAH.

1
8
15
22
29

83.9
83.8
84.7
84.8
83.6

40.1
33.9
34.2
34.5
36.6

5
12 P
19 P

81.9
84.7
84.5

31.5
32.2
34.0

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

TBBH EPS ABE THOSE RITH OBIGINAL HATUBITIES GBEATEB THAN ONE DA*, EXCLUDING CONTINUING CONTBACTS AND RETAIL BPS. INCLUDES
A BELATIVELT SHALL AHOUNT OF OVEHNIGHT BPS AT THBIFT INSTITUTIONS.
TSBH EUBOOOLLABS ABE THOSE HITH OBIGINAL HATUBITIES GBEATEB THAN ONE DAT. CONSISTS OF THOSE ISSUED TO U.S. RESIDENTS BI
FOBEIGN BBANCHES OF U.S. BANKS HOBLDHIDB AND BI ALL BANKING OFFICES IN THE UNITED KINGDOfl AND CANADA. EXCLUDES THOSE HELD
BT DEPOSITOBI INSTITUTIONS AND HONBT HABKET HUTUAL FUNDS.
CONSISTS OF U.S. TBEASUBI BILLS AND COUPONS RITH BEHAINING HATUBITIES OF LESS THAN 12 HONTHS HELD Bl OTHER THAN DEPOSITOBI
INSTITUTIONS, FEDERAL RESERVE BANKS, HOHEI HABKET HUTUAL FUNDS, AND FOREIGN ENTITIES.
NET OF BANKERS ACCEPTANCES HELD BI ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOBEIGN OFFICIAL INSTITUTIONS, THE FEDERAL
HOHB LOAN BANK SISTER AND HONEI HABKET HUTUAL FUNDS.
TOTAL COHHERCIAL PAPEB LESS COHHBBCIAL PAPER HELD BI HONBI HABKET HUTUAL FUNDS.
DEBT DATA ARE ON A NONTHLI AVEBAGE BASIS, DERIVED BI AVERAGING END-OF-flONTH LE1ELS OF ADJACENT HONTHS, AND HAVE BEEN
ADJUSTED TO BEHOVE DISCONTINUITIES.




H.6 (508)
Table 6

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

foreign
commercial
banks

Date

foreign
official
institutions

8
Time and
savings
deposits
due to foreign
commercial
banks and
foreign official
institutions

US^ 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

1985-DEC,

8.5

1.9

8.3

3.4

3.4

11.1

17.9

1.4

59.2

80.9

8.3

148.4

1 9 8 6 - JAM.
FEB.
HAS.

8.8
8.3
8.4

2.0
1.9
1.8

8.0
7.8
7.6

3.6
3.2
3.3

10.5
7.5
3.4

20.5
21.0
12.4

34.5
31.7
19.2

1.3
1.4
1.4

60.7
b2.5
64.2

81.9
82.9
86.4

8.6
8.7
9.0

151.2
154.2
159.5

APH.
HAY
JUKE

8.7
8.8
8.8

1.9
1.8
1.8

7.5
7.4
7.3

4.2
3.0
3.5

3.7
4.8
2.9

13.6
18.7
12.6

21.5
26.5
18.9

1.5
1.5
I-7

68.4
69.5
70. 1

90.4
91.2
92.1

9.8
10.1
10.1

168.5
170.8
172.2

JULI
AUG,
SEPT.

9.1
8.9
9.2

2.0
1.8
1.9

7.2
7.2
7.2

3.6
3.0
3.6

3.8
3.2
5.6

13.2
8.1
14.6

20.6
14.2
23.8

1.6
1.7
1.7

70.8
71.1
71.4

92.9
93.4
94.1

10.2
10.2
10.5

173.9
174.7
176.0

OCT.
HOY.
DEC

9.4
9.0
9.3

1.8
2.0
1.9

7.1
7.1
7.0

3.4
3.4
3.7

3.4
3.2
3.7

11.8
11.9
15.5

18.6
18.4
22.9

1.7
1.7
1.6

71.7
72.1
72.8

94.8
94.6
9 4 . 6e

10.8
1 0 . 8e
1 1 . Oe

177.2
177.5e
1 7 8 . 5e

9.3
9.3
9.5
8.2
9.8

2.1
1.9
1.7
1.8
1.9

7.0
7.1
7.0
7.0
7.0

3.3
3.1
4.6
3.6
3.5

2.7
2.6
3.1
3.6
4.8

14.0
9.2
6.4
22.0
24.1

20.0
14.9
14.1
29.2
32.3

1.6
1.6
1.6
1.6
1.6

10.3
9.9
8.3

2.0
1.8
1.7

6.9
6.9
6.9

3.6
3.7
4.0

6.1
4.0
6.8

17.6
23.1
23.8

27.3
30.8
34.6

1.6
1.6
1.6

P

MEEK B I D I M G :
1986
DEC.

1987
JAM

1
8
15
22
29
5
12 P
19 P

e = estiBated




SPECIAL SUPPLEMENTARY TABLE
Monthly Survey of Selected Deposits and Other Accounts
At A l l Insured Coaaerclal Banks and All Mutual Savings Banks 1
November 26, 1986 and Dec caber 3 1 , 1986
(not s e a s o n a l l y adjusted)

L i a b i l i t y Categories
NOW accounts*

•
Insured Coaaerclal Banks
Aaount Outstanding ($nlT71 Average Rate Paid (Z)
November 26 December 31
November It] December 31
1
1
148,848
164,247
5.03
5.00

|
Number of I s s u i n g Banks I
November 26 1 December 31 |
13,645

|

13,640

1

Money aarket d e p o s i t a c c o u n t s 3

373,716

379,998

5.20

5.19

13,090

|

13,087

|

Savings accounts*

148,840

154,543

5.27

5.24

13,615

|

13,581

1

I n t e r e s t - b e a r i n g t l a e d e p o s i t s with
balances of l e s s than $100,000
with o r i g i n a l m a t u r i t i e s o f : 5
7 to 31 days

6,161
(475)

6,101
(527)

5.39

5.45

8,720

8,504

1

32 t o 91 days
(standard error of the e s t i m a t e )

20,912
(805)

21,601
(781)

5.52

5.62

12,876

12,878

|

92 t o 182 days
(standard error of the e s t l a a t e )

133,620
(2,492)

131,483
(1.827)

5.66

5.70

13,874

13,869

1

183 days to 1 year
(stsndard error of the e s t l a a t e )

71,471
(1,699)

72,227
(1,635)

5.93

5.93

13,157

13,163

1

over 1 year to 2 - 1 / 2 years
(standard error of the e s t l a a t e )

83,530
(1.748)

83,761
(1.731)

6.24

6.22

13,617

13,611

|

2 - 1 / 2 y e a r s and over
(standard error of the e s t l a a t e )

119,929
(2,367)

120,699
(2,369)

6.64

6.61

13,418

13,412

1

A l l RA/Keogh Plan d e p o s i t s 6
(standard error of the e s t l a a t e )

72,461
(266)

73,127
(196)

N.A.

N.A.

13,372

13,366* 1

R e t a i l repurchase agreeaenta'
(stsndard error of the e s t l a a t e )

1,237
(222)

1,062
(193)

5.14

5.37

2,423

i

L i a b i l i t y Categories
MOW a c c o u n t s 2
Money a a r k e t d e p o s i t a c c o u n t s 3
Savings accounts

4

I n t e r e s t - b e a r i n g t l a e d e p o s i t s with
balances of l e s s than $100,000
with original a a t u r l t l c s of:5
7 to 31 days
(standard error of the e s t l a a t e )

1

2,284

State-CI lartered Mutual Savings Ban a
I
Aaount Outs tending ( S a i l )
Average l a t e Paid
&V~ Number of I s s u i n g Banks""
November 2o December 31~" November 26 December 31
Noveaber 26| December 311
4,745

5.253

5.20

5.19

307

310

31,994

31,932

5.48

5.48

337

339

29,186

30,044

5.46

5.45

352

355

I

|

156
(17)

149
(14)

5.52

5.49

93

89

32 t o 91 days
(standard error of the e s t l a a t e )

1,235
(121)

1,265
(101)

5.64

5.64

283

286

92 t o 182 days
(standard error of the e a t l a a t e )

18,580
(396)

18,553
(337)

5.95

6.49

339

343

183 days t o 1 year
(standard error of the e s t l a a t e )

12,815
(246)

12,918
(187)

6.23

6.24

342

344

over 1 year t o 2 - 1 / 2 y e a r s
(standard error of the e a t l a a t e )

12,475
(462)

12,391
(245)

6.56

6.49

340

342

2 - 1 / 2 y e a r s and over
(standard error of the e a t l a a t e )

20,821
(56)

20,851
(•5)

6.96

6.91

347

350

A l l HA and Keogh Plan d e p o s i t s 6
(standard error of the e s t l a a t e )

12,106
(322)

12,288
(307)

••A.

M.A.

345

348

l a t a i l repurchase agreeaenta 7
(standard error of the e s t l a a t e )

88
(43)

93
(47)

5.30

5.29

15

15

N.A. - Dats not a v a i l a b l e .
1 . E s t i a a t e s s r e baaed on deta c o l l e c t e d by the Federal Reserve froa a s t r s t l f l e d random sample of about 550 banks
and 75 mutual aavinga banka.
2 . As of January 1 , 1986 l n t e r e a t r a t e c e i l i n g s were removed froa a l l NOW a c c o u n t s . Beginning with the January 1986
data the NOW account category Includes a l l NOW a c c o u n t s , i n c l u d i n g those accounts which were s u b j e c t to s 5.25 p e r cent regulatory i n t e r e s t r s t e r e s t r i c t i o n prior to January 1 , 1 9 8 6 . E s t i a a t e s for t h i s category are baaed on reports
of d e p o s i t s . The NOW account r s t e i s reported aa a s i n pie annual r a t e .
3. Money aarket d e p o s i t accounts (MMDAs)—Deposits with no required a l n l a u a a s t u r l t y but i n s t i t u t i o n s must reserve
the right to require s t l e s s t seven day's n o t i c e prior to withdrawal, no r e s t r i c t i o n s on d e p o s i t o r e l i g i b i l i t y , or
l i m i t a t i o n s on the amount of I n t e r e s t that may be paid; such accounts aay a l l o w up to s i x t r a n s f e r s per month, no
more than three of which aay be draft and aay permit unlimited withdrawals by a a i l , messenger, or In person.
E s t i a a t e s for t h i s category are baaed on r e p o r t s of d e p o s i t s . The MMDA r a t e I s reported as a simple annual r a t e .
4. Savings d e p o s i t s t h a t , because of r e s t r i c t i o n s on t r s n s a c t i o n s , do not aeet the d e f i n i t i o n of an MMDA.
Estimates for t h i s category are based on reports of d e p o s i t s . The savings account rate l a reported aa a
simple annual r a t e .
5. All i n t e r e s t - b e a r i n g t l a e c e r t i f i c a t e s and open account t l a e d e p o s i t s with balances of l e s s than $100,000,
including those held in IXAs and Keogh Plan d e p o s i t s . With the exception of the 7-31 and 32-91 day d e p o s i t
r a t e s , which are reported as simple annual r a t e s , t l a e d e p o s i t r s t e s s r e annual e f f e c t i v e y i e l d s r e f l e c t i n g the
method of compounding reported by the i n d i v i d u a l i n s t i t u t i o n s .
6. All IKA'Keogh Plan time d e p o s i t s r e g a r d l e s s of s i t e , type of instrument in which h e l d , or i n t e r e s t rate paid.
7. Retail repurchase agreements are in denominations of l e s s than $100,000 with m a t u r i t i e s of l e s s than 90 days
that a r i s e from the transfer of d i r e c t o b l i g a t i o n s o f , or o b l i g a t i o n s fully-guaranteed e s to p r i n c l p s l snd i n t e r e s t
by, the U.S. Government or an agency t h e r e o f .
*~-revi roc ,




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