Full text of H.6 Money Stock Measures : January 4, 1990
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; Q fcpi^y.
FEDERAL RESERVE statistical release
K^LR&T*''
H.6 ( 5 0 8 )
Table 1
MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES!
JANUARY
Billions of dollars
Date
M1 J
M2 2
4, 1990
Debt5
M3 3
Seasonally adjusted
1987-DEC.
752.3
2909.9
3677.8
4336.8
8316.1
1988-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
758.4
760.1
763.8
771.2
771.1
776.5
782.5
782.4
783.7
785.4
786.6
790.3
2930.5
2950.8
2969.5
2990.3
2999.8
3013.1
3023.9
3029.8
3035.1
3042.3
3059.5
3069.6
3702.5
3732.8
3757..4
3780..7
3795..6
3816..6
3839..4
3851..6
3861..2
3878..1
3898..3
3915..6
4373.2
4403.5
4433.4
4472.0
4500.1
4517.3
4561.3
4580.0
4588.3
4609.4
4635.6
4672.3
8359.0
8415.6
8482.7
8550.2
8620.6
8690.8
8755.3
8820.2
8883.0
8943.8
9018.7
9082.2
1989-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
786.3
787.5
786.3
783.2
773.4
770.3
777.2
777.4
781.1
787.7
789.6
3065..9
3069..4
3078..5
3080..9
3072..6
3088..2
3116.8
3135.7
3153..4
3173..4
3195..1
3920.2
3929.5
3951.0
3957.8
3951.2
3966.8
3993.
3999.
4000.
4010.
4026.
4676.2
4689.4
4724.7
4749.1
4742.5
4752.4
4784.2
4803.4
4813.5
4827.1 p
9138.9
9207.0
9269.2
9327.6
9389.3
9444.1
9494.4
9558.9
9615.3
9681.7 p
1987-DEC.
766.4
2918.7
3688.7
•*^Z3 J. . A
OCT/.O
1988-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
765.2
745.5
752.6
779.1
764.6
779.9
786.9
782.3
781.0
782.1
788.3
804.4
2941.
2938.
2962.
3001.
2990.
3015.
3031.
3030.
3028.
3038.
3058.
3077.
3711
3720
3751.8
3786.9
3785
3816
3841
3852
3859
3875.8
3903.4
3925.4
4389.3
4399.3
4429.9
4475.3
4488.1
4517.8
4553.4
4574.9
4583.5
4605.3
4643.3
4685.8
8341.8
8378.9
8443.6
8509.9
8577.4
8650.4
8712.9
8774.2
8845.2
8910.4
8986.9
9067.5
1989-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
793.1
772.4
775.2
791.4
767.2
773.8
781.7
777.4
778.5
784.4
791.1
3076.
3057.
3071.
3092.
3063.
3091.
3124.
3136.
3146.
3169.
3193.
3927.7
3917.4
3945.8
3963.3
3941..0
3967..5
3995..1
4001..1
3998..7
4007..5
4031..7
4692.7
4686.3
4721.2
4750.8
4730.9
4753.2
4775.1
4798.2
4808.3
4822.5 p
9122.9
9170.7
9227.9
9285.2
9345.4
9403.2
9451.2
9512.4
9577.0
9647.6
Not seasonally adjusted
Footnotes appear on the following page,
p—indicates preliminary data.
H.6 ( 5 0 8 )
Table 2
MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates
M2
M3
Debt 1
6.3
7.6
2.7
7.9
1989 TO NOV. 1989
4.2
8.0
3.8
7.6
12 Months from NOV. 1988 TO NOV. 1989
0.4
4.4
3.3
8.3
SEP. 25, 1989 (13 weeks previous)
6.5
7.6
2.5
JUNE 26, 1989 (26 weeks previous)
3.8
7.2
3.3
DEC. 26, 1988 (52 weeks previous)
0.4
4.5
3.3
Ml
3 Months from AUG. 1989 TO NOV. 1989
6 Months from MAY
Thirteen weeks ending DECEMBER 25, 1989
from thirteen weeks ending:
1.
Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely,
July 1989 to October 1989, April 1989 to October 1989, and October 1988 to October 1989, respectively.
Footnotes to Table 1
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 (NON) and
automatic transfer service (ATS) accounts at depository institutions, credit union share draft accounts and demand deposits
at thrift institutions. Seasonally adjusted Ml is calculated by summing currency, travelers checks, demand deposits, and
OCDs, each seasonally adjusted separately.
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 worldwide, money market deposit accounts (MMDAs), savings and smalldenomination 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-Mi component as a whole and then
adding this result to seasonally adjusted Ml.
Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more) and term RP liabilities issued
by commercial banks and thrift 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 xhe 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 of domestic nonfinancial sectors consists of outstanding credit market debt of the U.S. government, state and local
governments and private nonfinancial sectors. Private debt consists of corporate bonds, 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, derived by averaging adjacent month-end levels. These data have also
been adjusted to remove statistical discontinuities that may arise in the underlying flow of funds statistics. The
presentation of debt data in this release differs, therefore, from the quarterly flow of funds statistics contained in the
Federal Reserve releases Z.7 and Z.l. In those releases, published levels of credit market debt are measured on a quartei—end
basis and include discontinuities.
H.6 ( 5 0 8 )
Table 3
MONEY STOCK MEASURES
B i l l i o n s of d o l l a r s
Seasonally adjusted
Ml
Period ending
13-week
average
4-week
average
M2
week
average
13-week
average
4-week
average
M3
week
average
13-week
average
4-week
average
week
average
1989-OCT.
2
9
16
23
30
778.8
779.4
780.2
781.2
782.1
783.2
784.3
786.4
788.1
787.5
788.6
786.5
788.5
788.6
786.3
3136.8
3140.8
3145.3
3149.8
3153.9
3156.4
3160.2
3165.3
3169.6
3173.5
3161.4
3167.9
3175.4
3173.6
3176.9
3998.2
3998.6
3999.9
4001.8
4003.4
4001.4
4000.1
4002.0
4006.5
4010.6
3995.0
4002.7
4014.6
4013.7
4011.5
NOV.
6
13
20
27
782.8
783.6
784.5
785.8
788.0
787.2
787.8
789.5
788.6
785.3
790.9
793.0
3158.1
3162.4
3166.9
3172.0
3178.1
3181.5
3187.2
3194.1
3186.3
3189.2
3196.5
3204.2
4004.7
4006.4
4008.6
4011.2
4014.4
4016.9
4020.5
4025.2
4017.8
4024.4
4028.3
4030.4
DEC.
4
11
18p
25p
787.0
787.8
789.0
790.6
789.8
791.8
793.0
795.3
789.9
793.4
795.5
802.4
3176.8
3181.1
3185.8
3191.2
3198.3
3203.0
3207.8
3213.6
3203.4
3208.0
3215.7
3227.1
4014.2
4016.3
4018.6
4022.2
4029.6
4032.4
4034.4
4037.6
4035.3
4035.4
4036.6
4043.1
Not seasonally adjusted
Ml
Period ending
13-week
average
4-week
average
M3
M2
week
average
13-week
average
4-week
average
week
average
13-week
average
4-week
average
week
average
1989-OCT.
2
9
16
23
30
778.9
778.4
779.1
779.7
780.1
777.9
777.8
780.8
785.1
784.1
775.8
792.2
793.3
779.1
771.6
3136.9
3139.5
3143.4
3147.3
3150.7
3146.9
3149.8
3156.7
3165.6
3169.3
3145.9
3172.9
3179.1
3164.4
3160.9
3998.3
3998.4
3999.6
4001.3
4002.4
3996.9
3995.0
3997.2
4004.5
4007.6
3985.7
4011.0
4016.5
4004.7
3998.2
NOV.
6
13
20
27
780.6
781.3
782.3
784.1
784.7
784.3
787.5
791.6
794.8
791.8
791.9
787.7
3154.5
3158.3
3162.7
3167.6
3174.3
3177.8
3185.9
3192.6
3192.8
3193.0
3196.7
3187.9
4003.6
4005.5
4008.0
4011.3
4011.8
4016.5
4023.8
4031.4
4027.9
4035.2
4033.8
4028.7
DEC.
4
11
18p
25p
785.7
786.8
788.7
792.5
793.0
796.6
800.2
806.0
800.5
806.1
806.6
810.7
3172.9
3177.3
3182.4
3189.3
3197.5
3203.9
3209.1
3216.8
3212.4
3218.5
3217.5
3218.9
4014.6
4016.9
4019.5
4024.7
4036.0
4039.4
4041.3
4044.7
4046.1
4049.0
4041.4
4042.4
N o t e : S p e c i a l c a u t i o n s h o u l d be taken i n i n t e r p r e t i n g week-to-week changes i n money supply data> which a r e h i g h l y v o l a t i l e and s u b j e c t
revision.
p--indicates preliminary data.
to
H.6 ( 5 0 8 )
Table 4
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Nontransactions
components
Small time deposit s 8
Savings deposits7
At
thrift
institutions
Total
412.9
417.4
423.6
568.1
570.9
575.1
981.0
988.3
998.7
429.2
431.8
431.3
430.9
436.4
443.1
578.8
581.4
582.2
1009.7
1017.8
1025.2
237.0
234.3
232.2
427.8
424.6
420.8
451.0
461.0
472.0
584.7
587.4
589.1
1035.7
1048.3
1061.0
185.6
182.4
181.4
227.3
222.3
220.6
412.8
404.7
402.0
485.5
497.0
501.9
597.6
608.8
616.6
1083.1
1105.7
1118.5
876.5
863.8
847.3
181.9
183.0
184.2
219.6
219.3
220.0
401.5
402.3
404.2
505.0
508.1
509.8
621.3
624.0
622.4
1126.3
1132.1
1132.2
2385.6
2405.5
836.7
831.3
185.1
187.2
220.7
222.1
405.8
409.3
515.3
517.6
617.2
615.1
1132.5
1132.7
281.1
2390.5
834.6
186.2
221.0
407.2
517.4
615.0
1132.5
Currency1
Travelers
checks2
Demand
deposits3
Other
checkable4
deposits
In M2 5
In M3
only6
At
commercia 1
banks
At
thrift
institutions
Total
1988-JULY
AUG.
SEP.
206.4
207.0
208.6
7.2
7.2
7.3
290.4
289.9
288.8
278.5
278.3
279.0
2241.4
2247.3
2251.4
815.6
821.9
826.1
189.1
190.0
190.1
240.5
240.9
240.3
429.7
430.9
430.5
OCT.
NOV.
DEC.
209.7
210.5
211.8
7.4
7.5
7.6
288.9
287.7
288.6
279.4
281.0
282.3
2256.9
2272.8
2279.3
835.8
838.8
846.0
189.8
192.8
192.5
239.4
239.1
238.8
1989-JAN.
FEB.
MAR.
213.4
214.3
215.6
7.6
7.5
7.3
284.0
284.8
284.3
281.3
280.9
279.1
2279.6
2282.0
2292.2
854.3
860.0
872.5
190.8
190.3
188.6
APR.
MAY
JUNE
216.0
216.5
217.3
7.3
7.3
7.2
281.4
278.2
275.0
278.5
271.4
270.7
2297.7
2299.2
2317.9
876.9
878.6
878.7
JULY
AUG.
SEP.
218.0
218.4
219.4
7.1
7.2
7.2
278.8
277.5
277.3
273.2
274.4
277.3
2339.6
2358.3
2372.3
OCT.
NOV.
219.7
220.2
7.3
7.5
280.4
278.9
280.3
283.0
220.4
7.4
277.5
Date
At .
commercial
banks
Week ending
1989-OCT. 30
NOV.
6
13
20
27
219.7
219.5
220.1
221.0
7.5
7.5
7.5
7.5
278.5
277.0
280.4
280.2
282.9
281.4
283.0
284.3
2397.7
2403.9
2405.6
2411.2
831.5
835.3
831.8
826.1
186.8
186.8
187.2
187.6
221.6
222.3
222.2
222.1
408.5
409.1
409.4
409.8
515.9
516.5
518.7
518.8
616.0
616.0
614.5
614.3
1131.8
1132.4
1133.2
1133.2
DEC.
4
11
18p
25p
221.0
221.1
222.0
222.6
7.5
7.5 e
7.5 e
7.5 e
277.5
279.1
279.5
285.0
283.9
285.8
286.5
287.3
2413.5
2414.6
2420.2
2424.8
831.9
827.5
820.9
816.0
188.5
188.3
188.8
189.4
222.2
222.3
223.6
222.9
410.6
410.6
412.4
412.3
519.1
520.3
522.1
523.4
614.1
613.9
613.9
613.7
1133.2
1134.2
1136.0
1137.1
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 NOH and ATS balances at all depository institutions, credit union share draft balances and demand deposits at thrift institutions.
Sum of overnight RPs and overnight Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs, and savings and small time
deposits. This sum is seasonally adjusted as a whole.
Sum of large time deposits, term RPs and term 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 funds. This sum is seasonally adjusted as a whole.
Savings deposits exclude MMDAs.
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,
-indicates estimated data,
-indicates preliminary data.
H.6 (508)
Table 4-continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Large time deposits1
At
commercial
banks 2
Date
At
thrift
institutions
Debt components6
Non-M3 components of L
Total
Savings
bonds
Short-term
Treasury
securities3
Bankers
acceptances*
Commercial
paper5
Federal
debt
Non-federal
debt
1988-JULY
AUG.
SEP.
345.5
350.8
355.0
168.5
168.6
171.7
514.0
519.4
526.7
106.8
107.4
107.9
264.6
268.6
268.8
40.7
41.2
41.7
309.8
311.3
308.8
2044.2
2058.5
2076.2
6711.1
6761.7
6806.8
OCT.
NOV.
DEC.
359.2
361.2
364.9
172.8
173.2
172.9
532.0
534.4
537.8
108.4
108.7
109.1
269.3
264.5
271.3
41.3
40.5
40.6
312.3
323.7
335.8
2084.7
2098.2
2113.5
6859.1
6920.5
6968.7
1989-JAN.
FEB.
MAR.
370.7
378.2
385.5
173.7
173.4
173.4
544.4
551.6
558.8
109.7
110.6
111.5
270.9
265.2
271.7
40.6
39.9
41.2
334.9
344.2
349.2
2121.8
2137.8
2158.7
7017.1
7069.2
7110.5
APR.
MAY
JUNE
392.5
395.8
396.4
175.2
176.3
176.6
567.7
572.1
573.0
112.3
112.9
113.8
278.1
285.0
279.3
41.4
41.1
41.1
359.5
352.3
351.4
2168.6
2176.4
2184.2
7158.8
7212.9
7259.9
JULY
AUG.
SEP.
397.7
397.0
395.8
175.4
172.1
167.9
573.1
569.1
563.7
114.6
115.2
115.7
283.0
290.7
307.4
42.0
42.7
41.3
351.3
355.3
348.3
2183.9
2199.9
2220.1
7310.6
7359.0
7395.2
OCT.
NOV.
397.5
400.0
163.1
159.4
560.5
559.4
116.1 p
316.1 p
40.2 p
344.7 p
2238.3 |p
7443.4 p
Neek ending
1989-OCT. 30
398.9
161.4
560.3
NOV.
6
13
20
27
398.5
400.3
401.3
399.6
160.4
160.0
159.3
158.4
558.9
560.2
560.6
557.9
DEC.
4
11
18p
25p
399.4
397.8
398.7
397.3
158.7
157.6
157.1
155.9
558.1
555.5
555.8
553.2
1.
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.
3.
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.
4.
Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks,
and money market mutual funds.
5.
Total commercial paper less commercial paper held by money market mutual funds.
6.
Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove
discontinuities.
p—indicates preliminary data.
2.
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H.6 (508)
Table 5-continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
c
Date
At
A*
thrift
ommercial institutions
banks
Total
Small-denomination time deposits2
Savings deposits1
Money msirket deposit accounts
At
commercia 1
thrift
banks
institutions
Total
At
At
commercial
thrift
banks
institutions
Total
Large-denomination time deposits3
At
At
commercial
thrift
banks*
institutions
Total
1988-JULY
AUG.
SEP.
360.3
357.7
354.5
161.6
160.0
157.0
522.0
517.7
511.4
191.5
191.0
189.8
244.5
242.8
241.1
436.0
433.7
430.9
412.5
417.2
424.2
566.8
568.8
572.7
979.4
986.0
996,9
342.9
351.3
357.0
166.5
167.9
172.2
509.5
519.2
529.2
OCT.
NOV.
DEC.
353.0
354.1
352.5
154.5
152.6
150.3
507.5
506.7
502.7
190.2
192.2
190.3
240.7
238.2
235.6
430.9
430.4
425.9
431.3
437.7
444.1
579.3
581.8
582.4
1010.6
1019.5
1026.5
360.8
362.4
365.6
174.7
174.9
174.1
535.4
537.3
539.6
1989-JAN.
FEB.
MAR.
348.3
342.5
340.1
146.8
142.9
140.2
495.2
485.3
480.3
189.3
188.2
187.8
233.6
230.5
230.7
422.8
418.7
418.4
453.0
462.8
473.0
588.5
591.6
592.0
1041.6
1054.4
1065.1
370.4
378.1
387.0
174.9
174.3
173.2
545.3
552.4
560.2
APR.
MAY
JUNE
336.2
327.0
328.1
135.0
130.0
128.8
471.3
457.0
456.9
186.2
183.6
183.2
227.9
223.7
223.3
414.0
407.3
406.6
483.5
493.3
499.6
598.5
605.6
612.8
1082.0
1098.9
1112.4
390.4
394.5
394.9
173.7
175.2
174.8
564.1
569.8
569.7
JULY
AUG.
SEP.
330.8
335.7
338.9
129.0
129.7
130.2
459.8
465.4
469.1
184.2
184.0
184.0
223.3
221.1
220.8
407.5
405.1
404.8
504.3
507.6
510.2
619.8
621.5
619.6
1124.1
1129.1
1129.8
394.9
397.7
398.0
173.3
171.3
168.3
568.2
569.0
566.2
OCT.
NOV.
342.0
349.7
131.0
132.0
473.0
481.7
185.5
186.7
221.9
221.1
407.4
407.8
515.6
519.3
617.6
615.5
1133.3
1134.8
399.1
401.4
164.9
161.1
564.0
562.5
342.9
130.8
473.8
185.6
220.6
406.3
517.6
615.4
1132.9
400.3
163.3
563.7
Neek ending
1989-OCT. 30
NOV.
6
13
20
27
347.2
349.5
350.5
350.2
131.9
132.4
131.8
131.7
479.2
481.9
482.4
481.9
186.5
186.6
186.8
186.8
221.8
222.1
221.0
220.1
408.3
408.7
407.8
406.9
517.5
518.3
520.0
520.5
616.3
616 T5
615.2
614.5
1133.8
1134.9
1135.2
1135.1
399.6
401.9
403.0
401.4
162.4
161.7
160.8
160.2
562.0
563.6
563.8
561.6
DEC.
4
11
18p
25p
353.1
354.7
355.0
353.5
132.1
132.5
133.3
132.5
485.1
487.2
488.2
486.0
187.2
187.1
186.6
186.2
220.5
220.6
219.9
218.4
407.7
407.7
406.5
404.6
521.2
522.1
522.3
522.7
614.6
614.3
613.3
612.8
1135.8
1136.4
1135.6
1135.5
399.6
399.5
399.2
399.3
159.9
158.9
158.1
156.6
559.5
558.4
557.3
555.9
Savings deposits exclude MMDAs.
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 held by money market mutual funds, depository institutions* and foreign banks and
official institutions,
-indicates preliminary data.
H.6 (508)
Table 5-continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars> not seasonally adjusted
Term RPs 1
InstitutionAt
only money commercial
thrift
market funds
banks
institutions
Date
Debt components6
Non-M3 Components of L
Total
Term
Eurodollars2
Savings
bonds
Short-term
Treasury
securities3'
Bankers
acceptances4
Commercial
paper5
Federal
debt
Non-Federal
debt
1988-JULY
AUG.
SEP.
84.8
84.0
83.7
46.5
45.1
42.6
79.2
79.0
80.1
125.7
124.1
122.8
97.3
103.0
102.9
106.5
106.9
107.6
257.4
265.0
266.4
40.8
41.2
41.9
307.8
309.3
308.3
2024.1
2037.6
2056.6
6688.7
6736.5
6788.6
OCT.
NOV.
DEC.
84.6
87.4
87.6
43.1
45.3
40.4
82.3
83.0
83.7
125.4
128.3
124.1
100.3
101.8
106.0
108.3
108.7
109.2
266.7
270.3
277.7
41.5
40.9
41.0
313.1
320.0
332.5
2069.0
2090.0
2111.8
6841.3
6897.0
6955.7
1989-JAN.
FEB.
MAR.
89.3
89.6
87.6
40.9
44.7
46.3
84.3
83.7
84.6
125.2
128.4
130.9
100.6
100.0
105.6
110.1
111.0
111.7
275.4
271.7
273.9
40.3
39.8
40.4
339.4
346.3
349.4
2121.4
2133.7
2149.0
7001.5
7037.1
7078.9
APR.
MAY
JUNE
87.7
91.6
95.1
44.3
43.7
43.7
84.5
85.5
85.5
128.8
129.2
129.3
100.2
96.6
92.6
112.4
113.0
113.7
278.1
279.6
275.2
41.0
41.2
41.4
356.1
356.2
355.4
2155.1
2159.5
2165.1
7130.1
7185.9
7238.0
JULY
AUG.
SEP.
98.2
100.6
99.1
45.0
45.1
47.4
79.5
72.9
66.3
124.5
118.0
113.7
91.3
89.0
84.9
114.2
114.7
115.4
274.9
286.5
304.7
42.1
42.7
41.5
348.8
353.1
348.0
2163.7
2179.7
2200.9
7287.5
7532.8
7376.1
OCT.
NOV.
98.7
102.0
48.0
49.4
62.0
61.0
110.0
110.4
80.5
81.2
116.0 p
313.0 p
40.4 p
345.6 p
2222.6 p
7425.0 p
99.2
50.2
60.9
111.1
80.5
Neek ending
1989-OCT. 30
NOV.
6
13
20
27
99.4
101.8
101.8
104.0
48.7
51.0
47.0
52.2
61.4
61.9
60.9
60.2
110.1
112.9
107.9
112.4
79.6
80.7
81.5
82.5
DEC.
4
11
18p
25p
103.5
103.3
102.8
102.5
45.9
44.9
45.5
46.0
60.2
57.2
53.6
50.9
106.2
102.1
99.2
96.9
82.2
84.1
84.2
84.9
Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs. Includes a relatively small amount
of overniqht RPs at thrift institutions.
Term Euroaollars 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 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.
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,
-indicates preliminary data.
H.6 ( 5 0 8 )
Table 6
MEMORANDUM ITEMS
Billions of dollars> not seasonally adjusted
Demand deposits
at banks due to
Foreign
Foreign
<commercial
official
banks
institutions
Date
IRA and Keogh Accounts
U.S. government depos;its
Time and savings
deposits due to
foreian banks
and official
institutions
Demand
deposits at
commercial
banks
Balance
at
Federal
Reserve
Note balances
at depository
institutions
Total
cash
balance
Time and
savings
deposits
At
At
at commercial commercia 1
thrift
institutions
banks
banks
At
money
market
funds
Total
1988-JULY
AUG.
SEP.
10.0
9.3
9.6
1.9
1.7
1.6
4.3
4.3
4.3
3.4
3.0
4.1
3.9
3.2
7.4
18.6
8.9
20.4
25.9
15.1
32.0
1.7
1.6
1.5
90.2
91.2
91.8
119.0
119.5
120.5
18.5
18.7
18.7
227.7
229.4
231.0
OCT.
NOV.
DEC.
9.2
9.4
9.7
1.6
1.8
1.9
4.3
4.3
4.2
3.2
3.4
4.2
6.2
5.2
5.5
24.5
12.8
18.7
34.0
21.5
28.4
1.5
1.5
1.6
92.5
93.3
93.9
121.5
121.8
122.6
18.8
19.6
20.5
232.9
234.7
237.0
1989-JAN.
FEB.
MAR.
9.5
9.5
9.0
1.8
1.8
1.7
4.2
4.2
4.1
4.0
3.7
3.8
8.1
5.8
5.2
21.0
22.2
14.3
33.1
31.7
23.3
1.5
1.5
1.5
95.1
96.2
97.4
123.7
124.3
125.4
20.7
21.2
22.2
239.5
241.7
244.9
APR.
MAY
JUNE
9.0
8.9
9.9
1.7
1.7
1.8
4.1
4.2
4.2
5.2
3.3
4.6
8.9
14.1
9.7
15.0
31.0
21.6
29.0
48.5
35.9
1.6
1.6
1.5
99.9
101.8
102.8
127.3
128.6
130.0
23.1
23.6
23.8
250.3
254.0
256.5
JULY
AUG.
SEP.
9.8
8.7
9.2
1.8
1.7
1.7
4.1
4.1
4.1
3.4
3.2
5.5
6.4
5.4
7.8
19.6
12.7
19.4
29.4
21.2
32.6
1.5
1.5
1.5
104.1
105.3
106.0
131.2
131.4
132.2
24.7
24.8
26.4
260.0
261.4
264.6
OCT.
NOV.
9.7
9.2
1.7
1.6
4.1
4.1
3.3
3.5
5.9
5.2
17.4
11.2
26.5
19.9
1.5
1.6
107.3
108.3
132.5
132.4 e
27.1
27.4 e
266.9
268.1 e
Neek ending
1989-OCT. 30
9.3
1.7
4.1
2.8
5.1
19.6
27.5
1.5
NOV.
6
13
20
27
10.0
8.9
8.9
9.4
1.6
1.5
1.5
1-7
4.1
4.1
4.1
4.1
4.9
2.6
3.4
3.1
6.7
4.8
4.7
4.8
15.2
8.1
10.3
12.6
26.8
15.5
18.4
20.5
1.6
1.6
1.6
1.6
DEC.
4
11
18p
25p
9.1
9.1
8.8
11.0
1.6
1.5
1.8
1.6
4.1
4.1
4.0
4.0
2.9
3.2
10.3
4.0
5.5
4.4
4.3
4.8
9.4
10.4
9.8
20.6
17.8
18.0
24.4
29.4
1.6
1.5
1.5
1.5
e—indicates estimated data,
p—indicates preliminary data.
@FedFRASER