Full text of H.6 Money Stock Measures : January 4, 1985

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FEDERAL RESERVE statistical release
H.6 (506)
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

JANUARY

4, 1985

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

Date

M3
M2
M2 plus
M1 plus overnight RPs
large
time
deposits,
and Eurodollars,
MMMF balances (gen. pur. term RPs, term Eurodollars
and institution-only
and broker/dealer), MMOAs,
MMMF balances'
and savings and small
time deposits2
Seasonally adjusted

L

Debt

M3 plus other
liquid assets4

Debt of domestic
nonfinancial sectors5

1983—NO?.
DEC.

523.1
525.4

2182.2
2196.3

2689.3
2710.4

3147.2
3178.7

5170.5
5224.6

1584—JAN.
FEB.
MAR.
APR,
HAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.

530, 1
533,0
535,3
535.5
541.2
546.3
545.8
546.7
548.9
545,5
549.4

2206.8
2222.6
2230.0
2242.9
2258.6
2272.1
2281.9
2291.0
2305.7
2317.4
2346.2

2723.1
2746.2
2767.1
2792.1
2819.1
2841.6
2862.6
2873.5
2891.7
2917.3
2955.3

3200.7
3230.8
3272.9
3299.0
3331.5
3375.7
3413.4
3435.1

5282.8
5341.7
5396.7
5455.9
5517.7
5571.7
5632.4
5694.5
5743.1
5797.7

1983—NOV.
DEC.

526.8
537.9

2181.3
2198,1

2690.4
2716.5

3148.4
3189.4

5158.5
5218.5

1984—JAN.
FEB.

535.0
522.0
528.2
543,3
535.0
545.6
547,5
542.7
546.3
546.0
553.4

2210.6
2212.5
2231.0
2254.7
2253.5
2273.9
2287.0
2288.4
2299.3
2316.7
2344.7

2729.0
2738.9
2768.3
2800.7
2814.4
2840.2
2861.5
2871.6
2886.0
2915.4
2956.4

3212.2
3232.3
3279.2
3310.5
3327.4
3371.7
3405.4
3424.6

5276.0
5322.5
5373.1
5430.1
5491.8
5550.9
5613.2
5676.2
5731.9
5791.1

Not seasonally adjusted

MAR.
APR.
SAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.

M1
For period ended
13-week average
1984-NOV.

DEC.

NOTE:

Seasonally adjusted
4-week average

week average

13-week average

Not seasonally adjusted
4-week average

week average

12
19
26

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
S46.9
548.2

546.1
546.5
550.3
553.5

553.2
555.0
557.1
548.8

3
10
17 P
24 P

548.0
547.8
548.0
548.8

549.9
551.3
550.9
551.8

547.3
551.2
550.9
557.6

549.0
549.5
550.5
553.0

553.6
556.0
558.0
562.8

553.6
564.4
565.0
568.1

5

SPECIAL CAUTION SHOULD BE TAKEN IN INTERPRETING iEEK-TO-IEEK CHANGES II MONEY SUPPLY DATA, BHICB ARE
HIGHLY VOLATILE AND SUBJECT TO REVISION.
P—INDICATES PRELIMINARY DATA.
FOOTNOTES APPEAR ON TBE FOLLOIING PAGE




H.6 (508)
Table 2

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

M1

M2

M3

Debt 1

3 MONTHS FBOH AUG.

1 9 8 4 TO MOV.

1984

2.0

9.6

11.4

11.7

6 MONTHS FBOH HAY.

1 9 8 4 TO HOY.

1984

3.0

7.8

9.7

12.5

12 MONTHS FBOH NOV.

1 9 8 3 TO MOV,

1984

5.0

7.5

9.9

13.1

THIRTEEN WEEKS ENDING DEC. 2 4 , 1984
FROfl THIRTEEN HEEKS ENDING:

1/

1/

2/

3/

4/
5/

SEPT- 2 4 ,

1984

( 1 3 WEEKS PREVIOUS)

1.4

JUNE

25,

1984

( 2 6 HEEKS PREVIOUS)

3.0

DEC.

26,

1983

( 5 2 HEEKS PREVIOUS)

4.9

GROWTH BATES FOR DEBT ARE BASED ON PERIODS BEGINNING AND ENDING ONE MONTH EARLIER THAN POR THE HONETABT AGGREGATES,
NAMELY, JULY 1984 TO OCTOBER 1984# APRIL 1984 TO OCTOBER 1984, AND OCTOBER 1983 TO OCTOBER 1984, RESPECTIVELY.
FOOTNOTES TO TABLE 1
CONSISTS OF (1) CURRENCY OUTSIDE THE TREASURY, FEDERAL RESERVE BANKS, AND THE VAULTS OF COMMERCIAL BANKS;
(2) TRAVELERS CHECKS OF NONBANK ISSUERS; (3) DEMAND DEPOSITS AT ALL 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 FEDERAL RESERVE FLOAT; AND (4) OTHER CHECKABLE DEPOSITS (OCD) 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. THE CURRENCY AND DEMAND
DEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AND DEMAND DEPOSITS, RESPECTIVELY, HELD BY
THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
CONSISTS OF Ml PLUS OVERNIGHT (AND CONTINUING CONTRACT) RPS ISSUED BY ALL COMMERCIAL BANKS AND OVERNIGHT EURODOLLARS
ISSUED TO U.S. RESIDENTS BY FOREIGN BRANCHES OF U.S. BANKS HORLDHIDE, MMDAS, SAVINGS AND SMALL DENOMINATION
TIME DEPOSITS (TIME DEPOSITS—INCLUDING RETAIL RPS—IN AflOUNTS OF LESS THAN $100,000)0 AND BALANCES IN BOTH
TAXABLE AND TAX-EXEMPT GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUNDS. EXCLUDES IRA AND KEOGH
BALANCES AT DEPOSITORY INSTITUTIONS AND HONEY 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, ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT
OF DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS.
CONSISTS OF M2 PLUS LARGE DENOMINATION TIME DEPOSITS (IN AMOUNTS OF $100,000 OR MORE) AND TERM RP LIABILITIES ISSUED
BY COMMERCIAL BANKS AND THEIPT INSTITUTIONS, TERM EURODOLLARS HELD BY U.S. RESIDENTS AT FOREIGN BRANCHES OF U.S. BANKS
HORLDWIDE AND AT ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA, AND BALANCES IN BOTH TAXABLE AMD 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 A CONSOLIDATION ADJUSTMENT THAT REPRESENTS
THE ESTIMATED AMOUNT OF OVERNIGHT BPS AND EURODOLLARS HELD BY INSTITUTION-ONLY MONEY MARKET MUTUAL FUNDS.
CONSISTS OP M3 PLUS THE NONBANK PUBLIC HOLDINGS OF U.S. SAVINGS BONDS, SHORT-TERM TREASURY SECURITIES, COMMERCIAL
PAPER AND BARKERS ACCEPTANCES, NET OF MONEY MARKET MUTUAL FUND HOLDINGS OF THESE ASSETS.
DEBT OF DOMESTIC aONFINANCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MARKET DEBT OF THE UNITED STATES GOVERNMENT,
STATE AND LOCAL GOVERNMENTS AWD PRIVATE NONFINANCIAL SECTORS. PRIVATE DEBT CONSISTS OF CORPORATE BONDS, MORTGAGES,
CONSUMER CREDIT (INCLtJDIMG BANK LOANS), OTHER BANK LOANS, COMMERCIAL PAPER, BANKERS ACCEPTANCES AMD OTHER DEBT
INSTRUMENTS. THE DATA KUE DERIVED FHOM THE FEDERAL RESERVE BOAKD*S FLOW CF FUNDS ACCOUNTS. ALL DATA CM DEBT OF DOMESTIC
NONFINAKCIAL SECTORS ARE PRESENTED INtfONTH-AVERAGE FORM, DEfilVED BY AVERAGING MONTH-END LEVELS OF ADJACENT MONTHS. THE
DATA HAVE ALSO BEEN ADJUSTED TO REMOVE STATJSTICAL DISCONTINUITIES THAT MAY ARISE IN THE UNDERLYING FLOW OF FUNDS STATISTICS.
THE PRESENTATION OF DEBT DAT& IK THIS RELEASE DIFFERS, THEREFORE, FROM THE UUAHTERLY FLOH OF FUNDS STATISTICS CONTAINED IN
IK THE FEDERAL RESERVE HELEASES 2.7 AND Z. 1. IN THOSE RELEASES, PUBLISHED LEVELS OF CREDIT MARKET DEBT ARE MEASURED ON A
A QUABTER-END BASIS AMD INCLUDE DISCONTINUITIES.




H.6<S0s?
1abk»3

COMPONENTS OF THE MONEY STOCK
•MWons of dollars, MMOMHy

Dats

Currency'

TnwitM
ohsoks'

Pamand

Othsr
chsokabla
daposMjs4

Montransactlons
oompi moots
In 143
IftMf*
on**
!

at
thrift

104*1

tanks

lalsctsd nontransacttons M M M
8 M M IN ttona dapoiMs"
at
at
OOfMIMMClsJ
total
thrift
banks

Lanistimadapoi iris"
at
total
thrift
banks" Institutions
at

1983-NOV.
DEC.

147.2
148.0

4.9

4.9

242.8
243.7

128.3
128.9

1659.2
1670.9

136.1
507.1
514.1 ; 134.6

179.2
178.2

315.4
312.9

350.0
353.1

435.5
440.0

785.5
793. 1

223.7
225. 1

96.6
100.4

320.3
325.4

1984-JAN.
PBB.
MAB.

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 i 132. 1
130.1
523.6
537.0
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

APB.
HAT
JUNE

151.8
152.9
154.2

5.1
5.1
5.1

245.3
245.2
248.2

133.3
138.0
138.0

1707.4
1717.4
1725.7

549.2
560.5
569.5

128.6
128.2
128.0

176.9
177.3
177.1

J05.5
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

JULY
AUG.
SEPT.
OCT.
HOT.

155.0
156.0
156.7
157.2
157.5

5.2
5.2
5.1
5.0
5.1

247.1
245.5
246.4
243.8
245.7

138.5
139.9
140.8
139.6
141.2

1736.1
1744.3
1756.8
1771.9
1796.8

580.7
582.5
586.0
599.9
609.1

127.4
126.3
125.9
125.2
124.7

175.6
173.4
173.0
172.2
171.5

303.0
299.8
298.9
297.4
296. 1

371.8
377.8
382.3
384.4
386.1

473.3
484. 1
492.2
500.7
505.6

84 5.2
862.0
874.5
885.1
891.7

254.8
255.3
257.8
262.4
261.5

134.2
136.7
135. 1
138.7
143.3

389.0
391.9
392.9
401. 1
404.8

IEBK

1984
NOV.

DEC.

1/
2/
3/

4/

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

ENDING

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
262.8
261.0
260.8

3
10
17 P
24 P

157.2
157.3
157.5
158.1

244.3
245.9
246.4
249.7

140.7
142.8
141.8
144.6

124.4
124.4
123.8
122.9

387.6
388.4
388.1
387.2

258.9
262.1
260.4
262.9

CUBBEMCT OUTSIDE TUB D.S. TBEASUBY, PEDRBAL BESEBVE BANKS AMD VAULTS OP COMMERCIAL BANKS. EXCLUDES THE ESTIMATED
AHOONT OP VAULT CASH HELD BT THBIPT INSTITUTIONS TO SEBVICE THEIB OCD LIABILITIES.
OUTSTANDING AMOUNT OP U.S. DOLLAB-DEMOHINATED TBAVELEBS CHECKS OP NONBANK ISSUBBS. TBAVBLBBS CHECKS ISSUED BT DEPOSITORY
INSTITUTIONS ABE INCLUDED IN DEMAND DEPOSITS.
DEMAND DEPOSITS AT COMMERCIAL BANKS AND POBEIGN BELATED INSTITUTIONS OTHEB THAN THOSE DUE TO DOMESTIC BANKS. THE U.S. GOVEBNMENf AND POfiEIGN BANKS AND OPPICIAL INSTITUTIONS LESS CASH ITEMS IN THE PBOCESS OP COLLECTION AMD PBDEBAL BBSEBVE PLOAT.
EXCLUDES THE ESTIMATED AMOUNT OP DEMAND DEPOSITS HELD AT COMMEBCIAL BANKS BI THBIPT INSTITUTIONS TO SERVICE THEIB OCD
LIABILITIES.
CONSISTS OP NOW AND ATS BALANCES AT ALL DEPOSITORY INSTITUTIONS, CBEDIT UNION SHARE DBAPT BALANCES AND
DEMAND DEPOSITS AT THRIPT INSTITUTIONS. OTHEB CHECKABLE DEPOSITS SEASONALLY ADJUSTED EQUALS THE DIPPEBENCE BETWEEN THE
SEASONALLY ADJUSTED SUM OP DEMAND DEPOSITS PLUS OCD AND SEASONALLY ADJUSTED DEMAND DEPOSITS. INCLUDED ABE ALL CEILING
PBEE "SUPER NOHS," AUTHORIZED BY THE DEPOSITOBY INSTITUTIONS DEBBGULATION COMMITTEE TO ££ OPPEBED BEGINNING JANUARY 5,
1983.
SUM OP OVEBNIGHT RPS AND OVERNIGHT EURODOLLARS, HONEY HABKET PUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER),
HNDAS, AND SAVINGS AND SHALL TIME DEPOSITS, LESS THE CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OP
DEMAND DEPOSITS AND VAULT CASH HELD BY THRIPT INSTITUTIONS TO SEBVICE THEIB TIME AND SAVINGS DEPOSITS LIABILITIES.
SUM OP LABGE TIME DEPOSITS, TERM BPS AND TEBH EURODOLLARS OP U.S. RESIDENTS, HONEY MARKET POND BALANCES (INSTITUTIONONLY), LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OP OVEBNIGHT BPS AND EURODOLLARS HELD BY
INSTITUTION-ONLY HONEY MARKET FUNDS.
SAVINGS DEPOSITS EXCLUDE MHDAS.
SHALL DENOMINATION TIME DEPOSITS—INCLUDING RETAIL R P S — ABE THOSE ISSUEJ) IN AMOUNTS OP LESS THAN 5100,000. ALL
INDIVIDUAL RETIREMENT ACCOUNTS (IBA) AMD KEOGH ACCOUNTS AT COHHEBCIAL BANKS AND THRIFTS ABE SUBTRACTED PBOM SMALL
TIME DEPOSITS.
LARGE DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF $100,000 OB MOfiE, EXCLUDING THOSE BOOKED AT
INTERNATIONAL BANKING FACILITIES.
LARGE DENOMINATION TIME DEPOSITS AT COHHEBCIAL BANKS LESS THOSE HELD BY HONEY HABKET MUTUAL PUNDS,
DEPOSITOR* INSTITUTIONS AND POUEIGN BANKS AND OFFICIAL INSTITUTIONS.




H.6 (506)
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 acceptances1
short-term treasury
securities1

commercial paper*

Debt components4
federal debt
non-federal debt

1983-OCT.
MOV.
DEC.

70.7
70.8
71.0

218.4
217.2
223.3

42.8
42.9
43.3

125.7
126.9
130.8

1151.3
1163.6
1173.1

3973.4
4006.9
4051.6

1984-JAN.
FEB.
HAS.

71.2
71.7
72.2

226.6
231.7
245.8

42.7
41.6
42.4

137.1
139.6
145.4

1192.2
1216.2
1224. 9

4090.6
4125.5
4171.8

APR.
HAY
JOVE

72.5
72.8
73.0

241.8
240.3
254.6

43.1
45.3
46.9

149.5
154.0
159.7

1236.5
1252.2
1259.9

4219.4
4265.4
4311.8

JOLT
AUG.
SEPT.
OCT.

73.2
73.4

267.4
276.7

47.3
47.3

162.9
164.2

1276.8
1300.1
1310.9
1323.1

4355.5
4394.4
4432.2
4474.7

CONSISTS OF O . S . TRE ISURY BILLS AMD COUPONS WITH HEflAINIIG MATURITIES OF LESS THAV 12 MONTHS HELD BY OTBEfi THAI DEPOSITOR!

INSTITUTIONS, FEDERAL RESERVE BANKS, HONEY BABKET HUTUAL FUNDS AND FOREIGN ENTITIES.
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL
HOHE LOAN BANK SYSTEH AND HONEY HARKET HUTUAL FUNDS*
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BY HONEY HARKET HUTUAL FUNDS.
DEBT DATA ARE ON A HONTHLY AVERAGE BASIS, DERIVED BY AVERAGING END-OF-MONTH LEVELS OF ADJACENT HONTHS, AND HAVE BEEN
ADJUSTED TO BEHOVE DISCONTINUITIES.




Table 5

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

Other checkable deposits
Date

Currency

1

checks3

Demand
deposits 3

at commercial
banks4

at thrift
institutions*

total

In M2*

7

in M3 only

Owrntatit

RfV

OvarniQht
Eurodollars'

General
purpose and
broker/dealer
money market
funds

1983-NOV.
DEC.

147.9
150.5

4.6
4.6

245.2
251.6

95.6
97.7

33.4
33.6

129.0
131.3

1654.5
1660.2

509.1
518.4

44.9
44.8

10.3
11.4

138.8
136.2

1984-JAN.
FEB.
HAR.

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

APR.
HAY
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

JULY
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
1753.0

574.5
583.2
586.8

43.2
45.2
44.1

13.7
13.5
12.7

150.5
150.5
151.9

OCT.
NOV.

156.7
158.6

5.0
4.8

244.9
248.0

100.9
102.5

38.5
39.5

139.4
142.0

1770.7
1791.3

598.7
611.7

44.7
48.2

12.1
9.8

155. b
162. 1

WEEK ENDING:
1984-NOV.

DEC.

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

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

158.2
160.7
162.2
164.2

3
10
17 P
24 P

158.0
160.8
160.7
162.2

248.3
251.8
254.3
256.0

102,9
105.9
105.0
105.2

39.6
41. 1
40.2
39.9

142.5
147.0
145.2
145. 1

53.1
47.0
46.6
40.3

10.9
10.3
11.5
13.0

165.3
167.0
168.6
168.9

CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS AND THE 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 RORBANK ISSUERS. TRAVELERS CHECKS ISSUED BY DEPOSITORY
INSTITUTIONS ARE INCLUDED IN DEMAND DEPOSITS.
DEMAND DEPOSITS AT COMMERCIAL BANKS OTBER 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 BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
CONSISTS OF NOH AND ATS BALANCES AT COMMERCIAL BANKS, U.S. BRANCHES AND AGENCIES OF FOREIGN BANKS, AND EDGE ACT
CORPORATIONS. INCLUDES SUPER NOHS OF $34.5 BILLION IN THE REEK ENDED DECEMBER 10, $34.6 BILLION IV 1HE WEEK EhDBD DECEMBER
17, AND $34.9 BILLION IN THE WEEK ENDED DECEMBER 24.
CONSISTS OF NOR AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND HUTUAL SAVINGS BARKS, CREDIT UNIOR SHARE
DRAFT BALANCES, AND DEMAND DEPOSITS AT THRIFTS. INCLUDES SUPER NOUS OF $13.0 BILLION IN THE VEEK ENDED DECEMBER 10, $12.8
BILLION IN THE REEK ENDED DECEMBER 17, AND $12.7 BILLION IN THE REEK ENDED DECEMBER 24.
SUM OF OVERNIGHT RPS AND EURODOLLARS, HONEY MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER), MHDAS AND SAVINGS
AND SHALL 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 THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY INSTITUTION-ONLY
MONEY MARKET MUTUAL FUNDS.
CONSISTS OF OVERNIGHT AND CONTINUING CONTRACT PPS ISSUED BY COMMERCIAL EANKS TO OTHER THAN DEPOSITORY INSTITUTIONS ARD
HOMEY MARKET MUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER).
ISSUED DY FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE TO U.S. RESIDENTS OTHER THAN DEPOSITORY INSTITUTIONS AND
MONEY HAFKET MUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEHLER).




H.b (50b)

Table 5-continued

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

at

commercial
banks

thrift
institutions

312.0
308.5

348.9
351.0

434.2
437.6

783. 1
788. 6

225. 0
228. 5

98.3
100.7

323. 3
329. 2

176.2
175.3
177.0

307.4
305.2
307.2

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
114.2

334. 6
340. 5
346. 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

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

386. 8
397. 3

123.8
122.3

171.9
170.4

295.7
292.7

383.8
384.9

499.8
504.1

883. 6
889. 0

263. 2
263. 0

141.7
146.1

404. 9
409. 1

commercial
banks

thrift
institutions

372. 9
376. 0

133.7
132.0

178.3
176.5

146.2
147.7
149.9

380. 3
386. 0
392. 5

131.3
129.9
130.2

JUNE

245.4
244.3
244.9

151.0
150.2
148.0

396. 4
394. 6
392. 9

JULY
AUG.
SEPT.

243.9
242.6
243.8

145.3
141.2
139.5

OCT.
NO?.

247.2
256.0

139.6
141.2

commercial
banks

thrift
institutions

1983-NO?,
DEC.

227.1
230.0

145.8
145.9

1984-JAN.
FED.
MAR.

234.2
238.3
242.6

APR.

Date

MAY

Urge denomination time deposits'

at

at

at

Small denomination time deposits1

Savings deposits
at

at

total

total

total

at

at

commercial
banks i

thrift
institutions

SEEK ENDING
1984
NO?.

DEC.

2/

3/
4/

5
12
19
26

251.6
254.5
256.2
258.0

122.9
122.6
122.4
121.9

384.6
385.0
384.8
384.9

263.
263.
262.
263.

2
7

3
10
17 P
24 P

260.7
263.5
265.4
267.1

121.6
121.7
121.1
120.4

385.1
385.3
385.3
385.2

262.
266.
263.
266.

6

4
0

0
9
3

SAVINGS DEPOSITS EXCLUDE HMDAS.
SMALL DENOMINATION TIME DEPOSITS — INCLUDING RETAIL RPS — ABB THOSE ISSUED II AHOUITS OF LESS THAI $100,000. ALL
INDI?IDUAL 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.




total

Table 5-continued

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

Institution
only money
market funds

at commercial
banks

at thrift
Institutions

total

leim
Eurodollars2

Savings
bonds

Non M3 Components of I
Short-term
Bankers
treasury
acceptances4
securities*

Components of Debt

^MMflaf swot

Non-Federal§
debt

DEC.

43.5
43.2

35.3
36.4

18. 1
19.6

53.4
56.0

91.7
93.4

71.0
71.3

215.7
222.7

43.3
44.7

128.0
134.1

1158.0
1170.2

4000.5
4048.3

1984-JAN.
FEB.
MAR.

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

230.2
239.6
253.1

43.6
42.2
42.0

137.8
139.9
143.6

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

246.2
241.1
251.5

42.4
44.7
46.2

148.9
154.7
161.0

1235.9
1248.7
1255.9

4194.2
4243.1
4295.1

JOLT
AUG.
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
270.6

46.5
46.6

163.9
162.5

1270.8
1295.8
1310.5

4342.4
4380.5
4421.4

OCT.
MOV.

52.2
58.3

36.9
39.4

29.5
28.8

66.4
68.2

80.4
82.1

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 P
24 P

61.3
61.9
62.2
63.6

34.9
32.7
34.3
40.4

1983—NOV.
J
WU f a
I7O

NAT

WEEK ENDING:
1984-NOV.

DEC.

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

TEHB RPS ARE THOSE WITH ORIGINAL HATORITIES GREATER THAN ONE DAI, EXCLUDING CONTINUING CONTRACTS AND RETAIL RPS.
TERH EURODOLLARS ARE THOSE WITH ORIGINAL MATURITIES GREATER THAN ONE DAI. CONSISTS OP THOSE ISSUED TO U.S. RESIDENTS BI
FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE AND BY ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA. EICLUDES THOSE HELD
BI DEPOSITORY INSTITUTIONS AND NONET MARKET MUTUAL FUNDS.
CONSISTS OF U.S. TREASURY BILLS AND COUPONS WITH REMAINING MATURITIES OF LESS THAN 12 MONTHS HELD BI OTHER THAN DEPOSITORI
INSTITUTIONS, FEDERAL RESERVE BANKS, HONEY MARKET MUTUAL FUNDS. *ND FOREIGN ENTITIES.
NET OF BANKERS ACCEPTANCES HELD BI ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL
HOME LOAN BANK SISTEM AND MONET MARKET MUTUAL FUNDS.
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BT MONET MARKET MUTUAL FUNDS.
DEBT DATA ARE ON A MONTHLT AVERAGE BASIS, DERIVED BT AVERAGING END-OF-HONTH LEVELS OF ADJACENT MONTHS, 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

Date

foreign
commercial
banks

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-NOV.
DEC.

8.4
6.2

2.0
2.0

7.2
7.1

2.7
3.0

2.9

4.7
7.8

10.4
14.4

0.7
0.7

29.5
30. 1

38.3
39.5

5. 1

3.6

5.0

72.9
74.6

1984-JAM.
FEB.
BAR.

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

APR.
HAY
JUNE

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

JULY
AUG.
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

14.1

15.8
13.9
23.7

6. 3e
6. 3e

97.5
98. 7e
100.Oe

OCT.
NO?.

8.1
6.5

1.7
2.0

7.3
7.4

2.6
2.8

3.9
3.1

8.4
7.5

14.9
13.5

0.9
1.0

42.6
43.2

52.6
53.4

6.4e
6.4e

101.5e
103.Oe

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 P
24 P

8.1
8.5
8.2
8.5

1,9
1.9
2.1
1.8

7.4
7.7
7.7
7.6

2.3
2.8
4.6
3.4

2.6
3.3
3.5
3.7

5.3
6.0
4.6

10.2
12.1
12.7
20.8

1.0
0.9
0.9
0.9

WEEK

1984
NOV.

DEC.

8.5

ENDING:

e = estimated




7.8
5.7
6.5

13.7

SPECIAL SUPPLEMENTARY TABLE
Monthly Survey of Selected Deposits and Other Accounts
At All Insured Conmerclal Banks and All Mutual Savings Banks1
October 31, 1984 and November 28, 1984
(not seasonally adjusted)
Liability Categories
"Super NOW accounts2
(standard error of the estimate)
Money market deposit account*3
Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:*
7 to 31 days
(standard error of the estimate)

Insured Commercial Banks
Amount Outstanding ($mil) Average Rate Paid (Z)
November 28
October 31
October 31
November 28
32,385
(467)
248,219

32,961
(453)
258,012

Number of Issuing Banks
November 28
October 31

7.47

7.25

11,808

11,783

9.13

8.65

12,846

12,922

5,017
(475)

5,271
(447)

9.09

8.52

7,550

7,928

32 to 91 days
(standard error of the estimate)

17,413
(703)

17,761
(752)

9.26

8.65

13,108

13,195

92 to 182 days
(standard error of the estimate)

166,204
(2,349)

166,078
(2,258)

10.22

9.39

13,811

13,837

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

57,358
(1,333)

58,748
(1,286)

10.53

9.69

12,722

12,705

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

68,443
(1,416)

69,413
(1,482)

11.02

10.27

13,387

13,352

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

106,594
(1.585)

107,128
(1,626)

11.26

10.62

12,790

12,859

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

42,961
(234)

43,458
(245)

(N.A.)

(N.A.)

13,183

13,166

Retail repurchase agreements6
(standard error of the estimate)

1,220
(213)

1,263
(206)

8.85

8.41

3,029

2,973

Liability Categories

State-Ch artered Mutual Savings Ban 8
Number of Issuing Banks
Average Rate Paid (X)
Amount Outstanding ($mil)
October 31
November 28
October 31
November 28
November 28
October 31

"Super NOW" accounts2
(standard error of the estimate)

815
(3)

824
(3)

7.74

7.54

218

218

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

25,819
(85)

26,045
(77)

9.52

9.06

359

358

Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:*
7 to 31 days
(standard error of the estimate)

212
(29)

206
(27)

8.84

8.13

114

113

32 to 91 days
(standard error of the estimate)

804
(75)

813
(72)

9.56

8.91

270

269

92 to 182 days
(standard error of the estimate)

26,989
(91)

26,732
(169)

10.94

10.04

359

358

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

9,851
(71)

9,962
(177)

11.38

10.36

314

313

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

10,683
(152)

10,689
(208)

11.60

10.71

344

343

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

20,901
(241)

20,139
(205)

11.81

11.07

336

335

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

8,490
(175)

8,522
(177)

(N.A )

(N.A.)

357

356

Retail repurchase agreements6
(standard error of the estimate)

HI
(63)

87
(70)

9.91

8.52

62

61

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