Full text of H.6 Money Stock Measures : January 30, 1986

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.

H.6 (508)
Table 1

JANUARY

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

30, 1986

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

Date

M2
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 balances9

L

Debt

M3 plus other
liquid assets4

Debt of domestic
nonfinancial sectors s

Seasonally adjusted

1984--DEC.

558.5

2371.7

2995.0

3541.3

5927.0

1985--JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.

562.7
569.4
572.1
574.9
581 .6
591 .2
595.8
605.9
611 .9
61 1 .1
617.9
624.7

2398.9
2421.0
2429.6
2427.7
2444.9
2472.9
2490.6
2514.0
2528.8
2533.0
2547.1
2563.6

3020.5
3041.0
3055.9
3056.9
3076.9
3104.5
3117.2
3142.6
3169.3
3179.7
3194.7
3213.5

3564.0
3595.5
3623.3
3625.9
3644.5
3675.1
3694.6
3732.9
3766.7
3781.7
3816.8

5992.6
6048.2
6103.8
6165.4
6228.6
6290.8
6356.0
6419.7
6479.2
6542.1
6626.0

Not seasonally adjusted

1984—DEC.

570.4

2376.7

3002.2

3542.9

5921.2

1985---JAN.
FEB.
MAR.
APR.

568.3
558.6
564.9
581 .6
576.2
592.2
599.1
601 .5
608.6
610.9
620.1
637.9

2404.2
2414.5
2429.9
2439.6
2441.0
2476.6
2496.6
2507.3
2517.4
2529.6
2545.0
2569.4

3024.3
3034.3
3057.6
3068.8
3074.8
3107.2
3119.4
3137.5
3157.5
3174.2
3195.3
3221.6

3568.9
3592.0
3629.5
3640.0
3639.4
3678.3
3696.5
3725.0
3754.7
3776.2
3817.4

5985.9
6027.6
6075.8
6136.9
6201.4
6266.9
6334.2
6400.2
6463.8
6528.4
6613.5

MAY

JUNE
JULY
AUG .
SEPT.
OCT.
NOV.
DEC.

M1
For period ended
13-week average

1985--DEC.

NOTE:

week average

13-week average

Not seasonally adjusted
4-week average

week average

16
23
30

614.0
614.7
615.6
617.0
617.8

619.4
621 .8
623.3
625.0
624.5

626.4
623.3
622.5
627.6
624.6

613.9
615.1
616.7
619.8
622.6

620.8
624.7
628.0
634.0
637.1

627.5
635.5
634.9
638. 1
640.0

6
13 P
2G P

619.1
620.4
621 .3

626.0
626.0
625.7

629.2
622.6
626.3

625.9
628.1
629.4

643.6
645.5
643.6

661 .2
642.5
630.8

2
9

1986-JAN.

Seasonally adjusted
4-week average

SPECIAL CAUTION SHOULD BE TAKEN IN INTERPRETING UEEK-TQ-UEEK CHANGES IN MONEY SUPPLY DATA, WHICH ARE
HIGHLY VOLATILE AND SUBJECT TO REVISION.
P—INDICATES PRELIMINARY DATA.
FOOTNOTES APPEAR ON THE FOLLOWING PAGE




H.6 (508)
Table 2

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

M1

M2

M3

Debt1

3 MONTHS FROM SEPT. 1985 TO DEC.

1983

8.4

5.5

5 .6

12 .9

6 MONTHS FROM JUNE

1985 TO DEC.

1985

11.3

7.3

7 .0

12 .8

12 MONTHS FROM DEC.

1984 TO DEC.

1995

11 .9

8. 1

7. 3

13 .3

THIRTEEN WEEKS ENDING JAN. 20, 1986
FROM THIRTEEN WEEKS ENDING-

1/

OCT.

21, 1985 (13 WEEKS PREVIOUS)

8.7

JULY

22, 1985 (26 WEEKS PREVIOUS)

1 1 .5

JAN.

21, 1985 (52 WEEKS PREVIOUS)

11 .6

GROWTH RATES FOR DEBT ARE BASED ON PERIODS BEGINNING AND ENDING O N E MONTH EARLIER THAN FOR THE MONETARY A G G R E G A T E S ,
N A M E L Y , AUGUST 1985 TO NOVEMBER 1985, MAY 1985 TO NOVEMBER 1985, AND NOVEMBER 1984 TO NOVEMBER 1985, RESPECTIVELY.

FOOTNOTES TO TABLE 1
CONSISTS OF (1> CURRENCY OUTSIDE THE TREASURY, FEDERAL RESERVE B A N K S , AND T H E VAULTS OF COMMERCIAL BANKS;
(2) TRAVELERS CHECKS OF NONBANK ISSUERS; (3) DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSE DUE TO
DOMESTIC B A N K S , 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 (OCD) CONSISTING OF NEGOTIABLE ORDER
OF WITHDRAWAL (NOW) A N D AUTOMATIC TRANSFER SERVICE (ATS) ACCOUNTS AT DEPOSITORY INSTITUTIONS,
CREDIT UNION SHARE DRAFT ACCOUNTS AND DEMAND DEPOSITS AT THRIFT INSTITUTIONS. THE CURRENCY AND DEMAND
DEPOSIT C O M P O N E N T S EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AND DEMAND D E P O S I T S , RESPECTIVELY, HELD BY
THRIFT INSTITUTIONS TO SERVICE THEIR OCD L I A B I L I T I E S .
2/. CONSISTS OF M1 PLUS OVERNIGHT (AND CONTINUING C O N T R A C T ) R P S ISSUED BY ALL COMMERCIAL BANKS AND OVERNIGHT EURODOLLARS
ISSUED TO U . S . RESIDENTS BY FOREIGN BRANCHES OF U . S . BANKS W O R L D W I D E , M M D A S , SAVINGS AND SMALL DENOMINATION
TIME DEPOSITS (TIME DEPOSITS — INCLUDING RETAIL .RPS--IN AMOUNTS OF LESS THAN $ 1 0 0 , 0 0 0 ) , AND BALANCES IN BOTH
TAXABLE AND TAX-EXEMPT GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL F U N D S . EXCLUDES IRA AND KEOGH
BALANCES AT DEPOSITORY INSTITUTIONS AND MONEY MARKET F U N D S . ALSO EXCLUDES ALL BALANCES HELD BY U . S . COMMERCIAL
B A N K S , MONEY MARKET FUNDS (GENERAL PURPOSE AND B R O K E R / D E A L E R ) , FOREIGN G O V E R N M E N T S AND COMMERCIAL BANKS, AND
THE U . S . G O V E R N M E N T . ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT R E P R E S E N T S THE ESTIMATED AMOUNT
OF DEMAND DEPOSITS A N D VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIME- AND SAVINGS D E P O S I T S .
3/ C O N S I S T S OF M 2 PLUS LARGE DENOMINATION TIME DEPOSITS (IN AMOUNTS OF $100,000 OR M O R E ) AND TERM RP LIABILITIES ISSUED
BY COMMERCIAL BANKS AND THRIFT INSTITUTIONS, TERM E U R O D O L L A R S HELD BY U . S . RESIDENTS AT FOREIGN BRANCHES OF U . S . BANKS
W O R L D W I D E AND AT ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA, AND BALANCES IN BOTH TAXABLE AND TAX-EXEMPT
INSTITUTION-ONLY MONEY MARKET MUTUAL F U N D S . EXCLUDES A M O U N T S HELD BY DEPOSITORY INSTITUTIONS, THE U . S . GOVERNMENT, MONEY
MARKET F U N D S , AND FOREIGN BANKS AND OFFICIAL I N S T I T U T I O N S . ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS
THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND E U R O D O L L A R S HELD BY INSTITUTION-ONLY MONEY MARKET MUTUAL F U N D S .
4/ CONSISTS OF M 3 PLUS T H E NONBANK PUBLIC HOLDINGS OF U . S . SAVINGS B O N D S , SHORT-TERM TREASURY S E C U R I T I E S , COMMERCIAL
PAPER AND BANKERS A C C E P T A N C E S , NET OF MONEY MARKET MUTUAL FUND H O L D I N G S OF THESE A S S E T S .
5/ DEBT OF DOMESTIC NONFINANCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MARKET DEBT OF THE UNITED STATES GOVERNMENT,
STATE AND LOCAL G O V E R N M E N T S AND PRIVATE NONFINANCIAL S E C T O R S . PRIVATE DEBT CONSISTS OF CORPORATE B O N D S , M O R T G A G E S ,
CONSUMER CREDIT (INCLUDING BANK L O A N S ) , OTHER BANK L O A N S , COMMERCIAL PAPER, BANKERS ACCEPTANCES AND OTHER DEBT
I N S T R U M E N T S . THE DATA ARE DERIVED FROM THE FEDERAL RESERVE BOARD'S FLOW OF FUNDS A C C O U N T S . ALL DATA ON DEBT OF DOMESTIC
NONFINANCIAL SECTORS A R E PRESENTED IN MONTH AVERAGE FORM, DERIVED BY AVERAGING MONTH-END LEVELS OF ADJACENT M O N T H S . THE
DATA HAVE ALSO BEEN ADJUSTED TO REMOVE STATISTICAL D I S C O N T I N U I T I E S THAT MAY ARISE IN THE UNDERLYING FLOW OF FUNDS STATISTICSTHE 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.1. IN THOSE R E L E A S E S , PUBLISHED LEVELS OF CREDIT MARKET DEBT ARE MEASURED ON A
A QUARTER-END BASIS AND INCLUDE DISCONTINUITIES.
1/




H.e<80*
1MM3

COMPONENTS OF THE MONEY STOCK
BMNont of doMtfit stotonofty tdlutttd
Mont rtfittettofit
OOf
MMJfUt

Ottitr

tot

Cuntncy'

Tvtwoti m
ohtdt i"

Otmtf wJ
dtpooltIt'

It
4
oopoon•

lnMI»

Inltt

166. 0

288 . 6

ICt*Mitlttmt
•titcttd
9m iMMmtdiMM*iNt"
tt
tt
total
mm
tent tt
387 . 0
498. 6
885. 6

wtaOtdt*ot* N^
*

tt
tola 1

ltf| itttantcPJftl
tt

tt

t

rctoJ

1984-DEC.

158.7

5 .2

248 . 6

146. 0

1813. 3

623 . 3

tent•
122 . 6

1985-JAN.
FEB.
MAR.

159.4
160.5
161 .3

5 .3
5 .3
5 .4

249 .1
251 . 7
251 . 9

149. 0

151 . 8
153. 6

1836. 2
1851 . 6
1857. 5

621 . 6
620 . 0
626 . 3

121 . 6
121 .4
120 . 3

166. 9
168. 0
168. 4

288 . 6
289 . 4
288 . 6

384 . 7
382 . 0
382 . 8

497. 2
495. 6
495. 8

881 . 9
877. 6
878. 6

262 . 3
264 .4
269 . 4

154 . 6
154 . 9
154 .2

416. 9
419. 3
423. 6

APR.
MAY
JUNE

161 .7
163.1
164.5

5 .5
5 .5
5 .7

252 . 5
255 . 8
260 . 7

155. 3
157. 3
160. 3

1852. 7
1863. 3
1881 . 7

629 . 3
632 . 0
631 . 6

119 . 6
120 . 4
121 . 9

168. 3
168. 9
170. 2

287 . 8
289 . 3
292 .1

387 . 6
390 . 0
390 . 7

497. 8
502. 0
503. 4

885. 3
892. 0
894. 2

273 . 0
272 .1
267 . 7

154
156
156

.4
.1
.4

427. 3
428. 2
424. 1

JULY
AUG.
SEPT.

165.4
167.1
167.9

5 .9
5 .9
5 .9

260 . 9
264 .1
266 . 8

163. 6
168. 9
171. 3

1894. 8
1908. 1
1916. 9

626 . 6
628 . 6
640 . 5

123 . 2
124 . 2
124 . 6

172. 8
176. 1
177. 1

296 . 0
300 . 3
301 . 7

388 . 4
384 .1
382 .8

500. 1
494. 3
491 . 6

888. 5
878. 4
874. 4

265 . 7
267 . 6
272 . 9

154
153

.2
.7
155 . 7

420. 0
421 . 4
428. 6

OCT.
NOV.
DEC.

168.8
170.0
170.8

5 .9
5 .9
5 .9

264 . 0
266 . 3
270 . 8

172. 4
175. 7
177. 2

1921 . 9
1929. 2
1938. 9

646 . 7
647 . 6
650 . 0

125 .1
125 . 3
124 . 7

179. 2
180. 5
180. 2

304 . 3
305 . 8
305 . 0

381
381
384

.7
.6
.2

489. 9
490. 1
494. 1

871 . 6
871 . 7
878. 3

277 . 2
280 .1
281 . 3

156 .1
157 . 6
159 . 7

433. 3
437. 7
441 . 1

272
269
269
272
270

177.
177.
176.
178.
177.

382
384
384
384
383

.7
.0
.5
.7
.8

385
385
385

.4
.3
.0

tenls t *
264 . 4

151 . 8

416. 2

WEEK ENDING
1985
DEC.

1986
JAN.

1/
2/
3/

4/

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

2
9
16
23
30

170.6
170.7
170.8
171 . 0
171 .0

6
13 P
20 P

171 .4
171.2
172.1

f

t

.9
.6
.2
.7
.4

273 . 6
266 . 4
267 . 6

0
1
6
1
3

178. 4
179. 2
180. 8

125
124
124
124
124

.1
.9
.7
.5
.6

124 . 8
124 . 5
124 . 3

j

>
*

280
281
281
280
280

.6
.7
.6
.6
.9

288 . 0
289 ^ 2
289 . 8

CURRENCY OUTSIDE THE U.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.
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 DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND FEDERAL RESERVE FLOAT.
EXCLUDES 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 ALL DEPOSITORY INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND
DEMAND DEPOSITS AT THRIFT INSTITUTIONS. OTHER CHECKABLE DEPOSITS SEASONALLY ADJUSTED EQUALS THE DIFFERENCE BETWEEN THE
SEASONALLY ADJUSTED SUM OF DEMAND DEPOSITS PLUS OCD AND SEASONALLY ADJUSTED DEMAND DEPOSITS. INCLUDED ARE ALL CEILING
FREE "SUPER NOWS,' AUTHORIZED BY THE DEPOSITORY INSTITUTIONS DEREGULATION COMMITTEE TO BE OFFERED BEGINNING JANUARY 5,
1983.
SUM OF OVERNIGHT RPS AND OVERNIGHT EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER),
MMDAS, AND SAVINGS AND SMALL 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.
SUM OF LARGE TIME DEPOSITS, TERM RPS AND TERM EURODOLLARS OF U.S. RESIDENTS, MONEY MARKET FUND BALANCES (INSTITUTIONONLY), LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY
INSTITUTION-ONLY MONEY MARKET FUNDS.
SAVINGS DEPOSITS EXCLUDE MMDAS.
SMALL DENOMINATION TIME DEPOSITS—INCLUDING RETAIL R P S — 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.
LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS 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

1/
2/
3/
4/

savings bonds

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

commercial paper*

Debt components^
federal debt
non-federal debt

1984-NOV*
DEC*

73*9
74*1

268*0
267*2

43*4
43*2

157*6
161 *8

1347*6
1367*4

4503*1
4.K>r59*6

1985-JAN*
FEB*
MAR*

74*4
74*9
75*3

266*6
270*2
275*9

42*8
44*6
46*4

159*6
164*8
169*8

1384.9
1399*4
1409*3

4607*8
4648*8
4474*5

APR*
MAY
JUNE

75.8
76*2
76*6

278*2
277*9
286*5

46*1
44*8
42*8

168*9
168*6
164*7

1423*1
1441*4
1458*3

4742*3
4787*1
4832*5

JULY
AUG*
SEPT*

76*7
77*2
78*1

286*9
288*1
290*0

42*7
42*9
42*9

171 .1
182.0
186*6

1478*5
1496*1
1505*6

4877*5
4923*6
4973*6

OCT*
NOV*

78*5
78*9

288*2
303*3

43*6
42*5

191 *7
197*4

1516*6
1548*2

5025*5
5077*7

COUSISTS OF U*S* TREASURY BILLS AND COUPONS' UITH 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, THE FEDERAL
HOME LOAN BANK SYSTEM 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 END-OF-MONTH LEVELS OF ADJACENT MONTHS, AND HAVE BEEN
ADJUSTED TO REMOVE DISCONTINUITIES*




H.6 (506)
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
institutions8

total

8

In M2

7

in M3 only

Overnight
RPs*

Overnight
Eurodollars*

General
purpose and
broker/dealer
money market
funds

1984-DEC.

160.9

4.9

257.4

105.9

41 .3

147.2

1806.3

625.4

45.2

12.4

167.5

1985-JAN.
FEB.
MAR.

158.3
158.6
159.8

4.9
5.0
5.1

254.9
244.9
246.3

108.3
107.8
109.9

41 .8
42.3
43.8

150.1
150.1
153.6

1835.9
1855.9
1865.0

620.1
619.8
627.7

48.7
56.3
55.7

14.2

13.3
12.4

171 .9
175.1
177.6

APR.
MAY
JUNE

161 .2
163.2
165.2

5.2
5.4
6.0

255.1
251 . 4
259.8

114.1
1 10.5
113.8

46.1
45.7
47.4

160.1
156.2
161 .3

1858.0
1864.8
1884.4

629.3
633.8
630.6

47.4
51 .3
50.3

12.0
12.8
12.7

176.2
172.2
175.4

JULY
AUG.
SEPT.

166.8
167.7

167.6

6.6
6.5
6.2

262.2
260.9
265.4

115.0
117.1
1 19.0

48.5
49.3
50.3

163.5
166.4
169.3

1897.5
1 9X)5.8
1908.9

622.8
630.2
640.1

50.2
51 .9
52.7

12.4
14.2
13.9

175.8
176.8
176.7

OCT.
NOV.
DEC.

168.5
170.8
173.1

5.9
5.6
5.5

265.4
268.5
280.3

119.8
122.6
125.8

51 .4
52.7
53.2

171 .2
175.3
179.0

1918.7
1924.9
1931.5

644.5
650.3
652.3

52.9
55.0
56.2

14.2
13.8
16.7

177.0
1 76. !5
175.8

WEEK

ENDING:

1985-DEC.

2
9
16
23
30

171 .6
173.1
172.8
174.1
173.1

274.6
275.9
277.8
280.1
283.9

i22.8
126.5
1 25.6
125.8
1 25.2

53.0
54.4
53.2
52.6
52.3

175.7
181 .0
178.8
178.4
177.6

55.3
58.1
56.8
57.8
52.9

13.0
17.0
15.9
16.1
18.0

176.5
176.9
176.3
175.8
174.5

1986-JAN.

6
13 P
20 P

172.5
171 .4
170.7

297.5
280.8
272. 9

1 30.8
130.8
128.5

54.9
54.0
53.2

185.7
184.8
181 .7

52.1
50.2
48.3

21 .7
19.4
17.7

172.3
175.8
178.5

1/

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

CURRENCY

OUTSIDE THE ILS.

TREASURY,

FEDERAL

RESERVE 6ANkS AMD THE VAL _TS OF COMiEftClAL BA MS.

EXCLJDES THE ESTIMATED

AMOUNT OF VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
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 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.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 NOUS OF $47.1 BILLION IN fllF UEEK END JANUARY 6, $47.5 BILLION IN THE UEEK ENDED
JANUARY 13, AND $47.1 BILLION IN THE UEEK ENDED JANUARY 20.
CONSISTS OF NOW AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND MUTUAL SAVINGS BANKS, CREDIT UNION SHAREDRAFT BALANCES, AND DEMAND DEPOSITS AT THRIFTS. INCLUDES SUPER NOUS OF $19.4 BILLION IN THE WEEK ENDED JANUARY 6,
$19.2 BILLION IN THE WEEK ENDED JANUARY 13, AND $18.9 BILLION IN THE WEEK ENDED JANUARY 20.
SUM OF OVERNIGHT RPS AND EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER), MMDAS AND SAVINGS
AND SMALL TIME DEPOSITS LESS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO 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 THF ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY INSTITUTION-ONLY
MONEY MARKET MUTUAL FUNDS.
CONSISTS OF OVERNIGHT AND CONTINUING CONTRACT RPS ISSUED BY COMMERCIAL BANKS TO OTHER IIIAN DEPOSITORY INSTITUTIONS AND
MONEY MARKET MUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER).
ISSUED BY FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE TO U.S. RESIDENTS OTHER THAN DEPOSITORY INSTITUTIONS AND
M O N E Y M A R K E T HUT' U A I... F U N I) S ( G E N E R A I... l:' U R P 0:; I-. ,'; < -i D !••: I •; 0 K E R / D E A I... E R > .




H.6 (508)
Table 5-continued

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

Date

Money rnarket deposit accounts
at
at
total
thrift
commercial
institutions
banks

at
commercial
banks

Savings deposits1
at
thrift
institutions

total

Small denomination time deposits2
at
at
thrift
commercial
total
institutions
banks

Large denomination time deposits9
at
at
thrift
commercial
total
4
banks
institutions

1984-DEC.

267. 1

147.9

415.1

121 . 4

164.9

286.3

387.6

499.4

887.0

265.9

151 .1

416.9

1985-JAN.
FEB.
MAR.

280.4
289.3
294.0

153.2
159.0
163.9

433.7
448.3
457.9

121 . 1
120.4
120.6

165.7
166.5
168.2

286.9
286.9
288.8

386.3
384.1
383.7

502.0
499.5
496.3

888.4
883.6
880.0

263.0
263.9
269.8

154.1
154.9
153.3

417.1
418.8
423.0

APR.
MAY
JUNE

295.9
298.3
307.3

164.5
165.5
167.8

460.3
463.8
475.1

120.9
121 .7
123.2

169.3
170.1
172.6

290.2
291 . 8
295.8

383.9
385.2
386.4

495.6
495.5
496.7

879.4
880.8
883.1

270.4
270.0
267.2

153.4
156.1
156.0

423.8
426.0
423.2

JULY
AUG.
SEPT.

313.0
317.7
321 .2

171 .1
174.3
175.5

484.1
492.1
496.7

124.3
124.0
123.7

175.1
175.5
176.0

299.4
299.5
299.7

386.4
385.3
385.1

497.5
494.0
492.3

883.9
879.4
877.4

264.9
269.4
274.6

154.3
155.1
156.3

419.2
424.6
430.8

OCT.
NOV.
DEC.

324.3
329.2
332.4

176.8
177.3
176.6

501 .1
506.5
509.0

124.5
124.2
123.5

179.0
179.6
178.9

303.5
303.9
302.4

384.8
384.3
384.9

493.6
493.6
495.0

878.4
877.9
879.9

278.2
280.1
282.7

157.4
158.2
158.9

435.7
438.3
441 .6

UEEK
1985
DEC.

1986
JAN.

1/
2/

3/
4/

ENDING

2
9
16
23
30

330.4
331 . 8
332.6
332.1
333.0

123.9
124.1
123.6
123.0
122.9

384.5
384.7
304.8
385.0
384.9

281 .5
281 .8
282.5
282.2
283.8

6
13 P
20 P

337.0
337.6
336.9

124.3
124.2
123.7

386.4
386.8
387.1

289.9
289.8
289.9

SAVINGS DEPOSITS EXCLUDE MMDAS.
SMALL DENOMINATION TIME DEPOSITS --• INCLUDING RETAIL RPS -- 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 BY MONEY MARKET MUTUAL FUNDS, DEPOSITORY
INSTITUTIONS AND FOREIGN 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
Term RPs

Date

Institution
only money
market funds

at commercial
banks

at thrift
institutions

total

leim
Eurodollars 1

Savings
bonds

Non M3 Components of L
Short-term
Bankers
acceptances 4
securities*

v^omponcnia or UKJC

Commercial
paper*

WOn-F wQWfm

Federal debt 9

debt

1984-DEC.

62.7

32.5

37.3

69.7

83.2

74.4

264.7

44.8

156.9

1364.7

4556.4

1985-JAN.
FEB.
MAR.

65.0
62.2
59.5

29.9
31 .2
32.7

35.1

34.5
36.2

65.0
65.7
68.9

81 .1
81 .3
84.7

74.6
74.9
75.3

268.5
273.8
283.5

44.1
44.8
45.3

157.3
164.2
167.7

1383.1
1397.4
1412.0

4602.8
4630.2
4663.8

APR.
MAY
JUNE

59.6
63.5
67.1

35.2
33.4
33.1

36.8
35.4
33.8

71 .9
68.8
66.9

81 .0
81 .8
79.9

75.6
76.1
76.5

281 .6
275.8
284.4

44.7
43.9
42.3

169.3
168.8
167.9

1427.1
1443*8
1457.9

4709.8
4757.6
4809.1

JULY
AUG,
SEPT.

65.0
63.6
62.3

31 .1
32.1
33.1

33.9
35.5
37.6

65.0
67.6
70.7

79.4
80.2
80.8

76.6
77.1
78.0

285.4
286.6
288.1

42.0
42.8
43.2

173.1
181 . 0
187.8

1475.8
1495.8
1506.9

4858.4
4904.4
4956.9

OCT.
NOV.
DEC.

63.3
64.5
64.5

31 .8
33.6
34.4

38.8
40.7
42.0

70.6
74.3
76.4

80.3
79.7
76.8

78.5
79.0

286.3
300.0

43.8
43.3

193.4
199.7

1515.5
1544.2

5012.9
5069.3

WEEK

ENDING:

1985-DEC.

2
9
16
23
30

64.5
64.1
64.3
64.8
64.8

39.8
30.7
33.1
35.7
36.5

1986-JAN.

6
13 P
20 P

64.3
67.3
66.5

33.5
36.2
37.3

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

TERM RPS ARE THOSE WITH ORIGINAL MATURITIES GREATER THAN ONE DAY, EXCLUDING CONTINUING CONTRACTS AND RETAIL RPS. INCLUDES
A RELATIVELY SMALL AMOUNT OF OVERNIGHT RPS AT THRIFT INSTITUTIONS.
TERM 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 WORLDWIDE AND BY ALL 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 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.
N.ET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDFRAI HOME LOAN BANK SYSTEM 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 END OF-MONTH LEVELS OF ADJACENT MONTHS, AND HAVE BEEN

A I) J U S T E D T 0 R E M 0 V E I) IS C 0 N TIN UITI £ S .



H.6 (508)
Table 6

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

Date

foreign
commercial
banks

foreign
official
institutions

Time and
savings
deposits
due to foreign
commercial
banks and
foreign official
institutions
9.6

U.S. government deposits
demand
deposits at
commercial
banks

total demand
deposits and
note and
FR balances

time
and savings
deposits at
commercial
banks

money
market
mutual funds

total

16.0

1 .0

43.8

59.0

6.9

1 09.7

9.2
8.9
8.7

3.7
3.6

4.0
4.3
3.8

14.9
1 2.7
9.2

22. 5
20.1
16.6

1 .1
1 .1
1 .0

45.3
47.0
48.8

61 . 4
63.1
65.4

7.4
7.7
7.9

1 14.0
117.9
122. 1

1 .9
2.1
1 .9

8.5
8.4
8.3

3.9
3.1
3.4

6.6
6.7
2.8

11 . 5
1 7.8
11 . 4

22.0
27.6
17.7

1 .0
1 .0
1 .0

53.5
55.1
55.9

69.2
70.5
71 .8

8.6
8.6
8.4

131 . 2
134.2
136.1

7.9
7.6
7.9

1 .8
1 .9
2.0

8.3
8.2
8.2

3.1
2.8
3.4

4.0
3.0
4.3

20.0
1 0.6
13.4

27.0
16.4
21 .1

1 .0
1 .1
1 .1

56.7
57.4
57.8

73.7
75.2
76.4

8.5
8.4
8.3

138.3
140.9
142.5

7.9
7.8
8.2

1 .8
2.1
1 .9

8.4
8. 5
8.3

3.0
3.0
3.4

3.1
2.8
3.4

2.4
4.8
11.1

8 . !:>
1 0. 7
17.9

1 .1
1. 1
1 .2

58.2
58. 7
59.2

77.3
77.8
79.1e

8.4
8.7e
9.1e

1 44.0
145.2e
147.3©

1985-JAN.
FEB.
MAR.

8.5
8.3
7.5

1 .9
2.1
1 .8

APR.
MAY
JUNE

7.6
7.8
7.8

JULY
AUG.
SEPT.
DCT.
NOV.
DEC.

•

WEEK ENDING:

2
9
16
23
30

7.7
7.5
8.5
7.7
9.0

2.4
1 .8
1 .7
2.0
1 .8

8.2
8.4
8.4
8.3
8.3

3.2
3.0
4.5
3.3
3.2

2.7
3.3
3.6
3.9

10.0
2.9
1 .4
18.1
21 . 2

15.4
8.6
9.2
25.0
28.3

1 .2
1 .2
1 .2
1*2
1 .2

6
13 P
20 P

9.6
7.8
8.4

2.1
1 .9
2.0

8.3
8.2
8.1

3.8
2.9
3.9

5.5
5.0
10.3

20.1
15.0
21 . 7

29.4
23.0
35.9

1 .1
1 .1
1 .1




thrift
institutions

9.1

2.0

e =: e s f i mated

commercial
banks

3.4

8.6

1986
JAN.

note balances
at commercial
banks
and thrift
institutions

3.4

1984--DEC.

1985
DEC.

balances at
Federal
Reserve
Banks

IRA and Keogh Accounts