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FEDERAL RESERVE statistical release
RES. LIBRARY

^{*%*&y

H.6 ( 5 0 8 )
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

JULY 1 1 , 1991

Billions of dollars
Date

Ml ]

M2*2

M3 3

DEBT

Seasonally adjusted
1989-JULY
AUG.
SEP.
OCT.
NOV.
DEC.
1990-JAN.
FEB.
MAR.
APR.

MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
1991-JAN.
FEB.
MAR.
APR.

MAY
JUNE p

779.3
779.9
781.8
787.9
788.9
793.6

3129 .4
3147 .3
3162.8
3183.0
3203.4
3223.1

4004.
4012.
4018.
4027.
4041.
4055.

4807.4
4826.1
4834.5
4851.7
4869.4
4889.9

9506.
9570.
9629.
9689.
9751.
9790.

795.4

801.1
804.7
807.7
807.5
811.5
810.7
816.5
821.8
821.2
823.3
825.4

3233.6
3255.0
3269.6
3279.9
3282.8
3290.6
3295
3309
3321
3324
3323
3327

4061.
.4
.1
4073.
.2
4077.
.7
4082.
.7
4082.
4085.8
4089.2
4103.3
4109.0
4109.3
4108.8
4111.7

4895.
.3
4902.
.9
.6
4914.
4920.
.5
.2
4903.
4922.8
4926.4
4934.
4955.
4955.
4959.
4965.

9833.8
9897.1
9969
10026
10070
10128
10188
10257
10312
10349
10399
10436

826.7
836.4
843.0
842.2
851.7
858.4

3331.0
3354.3
3374.9
3382.8
3395.1
3398.7

4124.
4160.
4168.
4170
4172
4165.1

4982.7
5010.6
5008.5
4969.0
4944.2

10467.8
10525.9
10563.9
10578.0
10627.3 p

Not seasonally adjusted
1989-JULY
AUG.
SEP.
OCT.
NOV.
DEC.

781.9
777.8
778.9
784.5
791.4
811.9

3133.
3147.
3158.
3180.8
3206
3236

4006.8
4016.6
4016.8
4025.2
4048.4
4067.0

4800.3
4823.7
4833.5
4848.8
4874.9
4907.4

9460.2
9516.6
9578.3
9648.5
9719.2
9775.9

1990-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

802.4
788.3
796.2
818.0
797.3
810.8
812.9
814.5
818.9
817.6
826.1
844.3

3244.5
3245.6
3267.7
3292.8
3262.8
3284.1
3298.6
3310.2
3316.8
3321.6
3327.1
3341.6

4067.8
4061.5
4075.8
4090.8
4064
4080
4091
4108.
4107.
4106,
4115
4123.8

4911.5
4893.9
4912.2
4930.3
4888.6
4914.1
4918.8
4932.4
4954.0
4950.8
4964.6
4984.0

9822.2
9864.3
9925.6
9980.8
10024.1
10084.6
10145.5
10208.2
10263.1
10310.0
10370.0
10423.3

1991-JAN.
FEB.
MAR.
APR.
MAY
JUNE p

833.2
823.4
835.0
852.9
841.7
857.6

3341.3
3345.0
3374.1
3396.4
3374.5
3391.6

4130.7
4148.4
4168.3
4179.9
4153.9
4159.6

4998.8
5001.1
5006.7
4980.4
4929.2 p

10455.7
10490.8
10518.6
10533.4
10582.4 p

Footnotes appear on the following
p—indicates preliminary data.




H.6 ( 5 0 8 )
Table 2

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

M2

M3

Debt 1

3 Months from MAR. 1991 TO JUNE 1991

7.3

2.8

-0.4

3.9

6 Months from DEC. 1990 TO JUNE 1991

8.0

12 Months from JUNE 19S>0 to JUNE 1991

5.8

2.6

4.4

3.3

1.9

5.5

Thirteen weeks ending JULY 1, 1991
from thirteen weeks ending:
APR.

1> 1991 (13 weeks previous)

7.4

4.6

1.8

DEC. 31, 1990 (26 weeks previous)

6.7

4.1

2.9

JULY
1.

2, 1990 (52 weeks previous)
3.3
5.2
2.1
Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely,
February 1991 to May 1991, November 1990 to May 1991, and May 1990 to May 1991, respectively.
Footnotes to Table 1

1.

2.

3.

4.
5.

Consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions)
(2) travelers checks of nonbank issuers) (3) demand deposits at all commercial banks other than those due to depository
institutions, the U.S. government, and foreign banks and official institutions, less cash items in the process of collection
and Federal Reserve float) and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NON) and
automatic transfer service (ATS) accounts at depository institutions, credit union snare 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 depository institutions and overnight Eurodollars
issued to U.S. residents by foreign branches of U.S. banks worldwide, money market deposit accounts (MMDAs), savings and
small-denomination time deposits (time deposits—including retail RPs—in amounts of less than $100,000), and balances
in both taxable and tax-exempt general purpose and broker/dealer money market mutual funds. Excludes individual retirement
account (IRA) and Keogh balances at depository institutions and money market funds. Also excludes all balances held by
U.S. commercial banks, money market funds (general purpose and broker/dealer), foreign governments and commercial banks,
and the U.S. government. Seasonally adjusted M2 is computed by adjusting its non-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 all depository institutions, term Eurodollars held by U.S. residents at foreign branches of U.S. banks worldwide
and at all banking offices in the United Kingdom and Canada, and balances in both taxable and tax-exempt institution-only
money market mutual funds.^Excludes amounts held by depository institutions, the U.S. government, money market funds,
and tareign banks ana official institutions. Also subtracted is the estimated amount of overnight RPs and Eurodollars
held by institution-only money market mutual funds. Seasonally adjusted M3 is obtained by adjusting its non-M2 component as
a whole and then adding this result to seasonally adjusted M2.
Consists of M3 plus the nonbank public holdings of U.S. savings bonds, short-term Treasury securities, commercial paper
and bankers acceptances, net of money market mutual fund holdings of these assets.
Debt of domestic nonfinancial sectors consists of outstanding credit market debt of the U.S. government, state and local
avernments 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 ^hd -Z.I. in tho^e releases, published levels of credit market debt are measured on a quartei—end
basis and include discontinuities.

f




H.6 ( 5 0 8 )
Table 3

MONEY STOCK MEASURES

B i l l i o n s of

dollars

Seasonally adjusted
Ml

3385.7
3387.8
3383.2
3374.5

4155.7
4161.3
4165.0
4166.2

4168.5
4171.0
4172.3
4171.4

4168.9
4183.9
4174.7
4158.1

3384.3
3386.3
3390.3
3396.1

3391.5
3396.1
3399.0
3397.6

4168.1
4169.2
4170.2
4171.1

4171.7
4169.5
4169.8
4174.2

4170.0
4175.0
4176.2
4175.6

3385.4
3387.9
3390.2
3391.3

3395.1
3396.4
3398.0
3397.8

3387.8
3401.2
3405.5
3396.5

4170.7
4170.8
4170.9
4170.3

4171.9
4171.2
4171.0
4167.4

4160.9
4172.1
4175.2
4161.4

3392.5

3399.9

3396.5

4169.6

4165.3

4152.3

842.0
844.0
841.1
840.0

3358.6
3363.5
3367.4
3370.1

3381.0
3384.1
3384.2
3382.8

843.8
845.7
848.7
851.6

849.9
851.7
853.0
851.7

3373.7
3377.1
3380.4
3383.5

846.1
847.4
849.0
850.1

851.8
853.0
854.8
856.5

850.6
856.5
860.4
858.6

850.9

859.4

862.1

8
15
22
29

836.8
838.5
839.7
840.4

844.6
845.6
844.8
841.8

MAY

6
13
20
27

841.7
842.9
844.0
845.2

JUNE

3
10
17
24p

JULY

lp

1991-APR.

4-week
average

4-week
average

4-week
average

week
average

week
average

week
average

13-week
average

13-week
average

13-week
average

Period en<ding

M3

M2

Not s e a s o n a l l y a d j u s t e d
Ml
13-week
average

4-week
average

8
15
22
29

831.0
832.8
834.9
836.6

840.8
849.0
856.4
853.1

MAY

6
13
20
27

838.4
839.6
841.1
842.2

JUNE

3
10
17
24p

JULY

lp

Period en<ding
1991-APR.

M3

M2
week
average

13-week
average

4-week
average

3418.8
3418.0
3393.7
3358.6

4154.6
4159.9
4163.1
4164.7

4174.8
4183.4
4187.6
4181.1

4200.4
4208.5
4176.0
4139.4

3387.2
3377.2
3373.3
3374.5

3378.3
3378.0
3378.4
3363.3

4166.4
4166.6
4167.2
4167.4

4170.1
4157.8
4153.1
4154.4

4156.5
4159.1
4157.2
4144.8

3382.3
3384.7
3386.8
3387.1

3375.5
3382.5
3388.5
3391.0

3382.2
3406.2
3402.3
3373.1

4167.0
4167.5
4167.5
4166.0

4154.4
4159.7
4164.1
4162.8

4156.6
4180.0
4174.8
4139.8

3387.6

3392.4

3388.1

4164.2

4159.2

4142.1

13-week
average

4-week
average

861.8
865.5
854.7
830.5

3358.6
3363.6
3367.8
3371.0

3386.3
3396.8
3403.1
3397.3

849.8
844.6
841.6
841.3

848.4
844.9
842.7
829.1

3374.1
3376.4
3379.0
3380.8

843.6
845.9
848.2
849.6

841.7
847.3
852.4
856.1

850.2
867.2
863.2
843.6

850.8

858.2

858.9

week
average

week
average

Note: 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 d a t a , which are highly volatile and subject to
revision.
p-—indicates preliminary data.



H.6 ( 5 0 8 )
Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars? seasonally adjusted
Nontransact ions
component s

Other checkable deposits

Date

Currency

J

Travelers
checks *
-

Demand
deposits3

At
commercial
banks 4

At
thrift
institutions5

Total

In M 2 6

In M3
only 7

Genesral purpose
and I>roker/dealer
money market funds

1990 -FEB.
MAR.

226.6
228.4

7.6
7.6

279.4
278.9

199.6
201.3

87.9
88.6

287.5
289.8

2453.9
2465.0

818.2
807.6

324.2
325.9

APR.
MAY
JUNE

230.3
231.9
233.7

7.7
7.8
7.8

278.1
275.8
276.3

202.9
203.6
205.5

88.9
88.3
88.2

291.7
292.0
293.7

2472.2
2475.3
2479.1

802.8
799.9
795.2*

327.0
325.3
327.5

JULY
AUG.
SEP.

235.7
238.4
241.5

7.8
8.0
8.2

275.6
278.0
279.1

203.9
204.4
205.7

87.7
87.7
87.3

291.7
292.1
293.0

2484.7
2493.0
2499.7

793.8
793.9
787.5

329.2
335.8
339.3

OCT.
NOV.
DEC.

243.9
245.0
246.4

8.3
8.4
8.4

277.1
277.2
276.9

205.9
207.1
208.8

85.8
85.7
85.0

291.8
292.8
293.8

2503.1
2500.2
2502.2

785.0
785.3
784.1

341.6
341.9
345.4

1991 -JAN.
FEB.
MAR.

251.6
255.1
256.7

8.4
8.2
8.1

272.9
276.2
277.1

209.2
211.4
214.4

84.7
85.5
86.6

293.
296.
301.

2504.3
2517.9
2531.9

793.6
806.1
794.0

353.9
358.2
363.6

APR.
MAY
JUNE

P

256.6
256.8
257.5

7.9
8.0
7.8

275.8
278.6
280.9

215.2
220.2
223.5

86.8
88.1
88.6

302.
308.
312.

2540.6
2543.3
2540.3

787.9
777.6
766.4

364.2
365.1
364.3

6
13
20
27

256.5
256.3
256.9
257.4

279.8
280
279,
275.

218.
219.
220.
221.

87.
87.
88.
89.

305.7
307.3
308.6
310.8

2541.6
2544.4
2546.0
2545.8

778.
778.
777.
778.

363.9
365.1
365.1
365.8

JUNE

3
10
17
24p

257.0
256.8
257.3
258.0

276.
281.
283.
279.

221.1
222.5
222.8
224.3

87.
87.
88.
89.

308.8
310.2
311.7
313.6

2537.
2544.
2545.
2538.

773.
770.
769.
764.

365.4
364.8
365.0
364.0

JULY

lp

258.7

280.2

225.7

89.8

315.5

2534.4

755.8

362.7,

Neek ending
1991 -MAY

1.
2.

7.7

Currency outside U.S. Treasury* Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollai—denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are
included in demand deposits.
3.
Demand deposits at commercial banks and foreian-related institutions other than those due to depository institutions) the U.S. government
and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float.
4.
Consists of NOH and ATS balances at commercial banks, U.S. branches and agencies of foreiqn banks, and Edge Act corporations.
5.
Consists of NON and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
6.
Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs and savings and small time
deposits. This sum is seasonally adjusted as a whole.
7.
Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated
amount of overnight RPs and Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted as a whole.
e--indicates estimated data.
p--indicates preliminary data.




H.6 (508)
Table 4-continued

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

At
At
commercial
thrift
banks
institutions

Date

Total

Small-denomination time deposits 2

Savings deposits 1

Money market deposit accounts

At
At
commercisi . thrift
l
banks
institutions

Total

At
At
commercial
thrift
banks
institutions

Total

Large-denomination time deposits 3
At
At
commercial
thrift
4
banks
institutions

Total

1990-FEB.
MAR.

358.1
360.9

133.8
134.8

491.8
495.7

191.4
192.1

217.3
218.2

408.7
410.2

536.9
540.7

609.9
609.3

1146.8
1149.9

400.4
399.2

154.5
150.1

554,9
549.3

APR.
MAY
JUNE

364.4
366.1
369.6

134.9
134.3
132.6

499.3
500.5
502.3

192.3
192.7
194.0

219.1
218.6
217.8

411.5
411.3
411.8

544.4
553.4
563.8

607.8
600.2
590.8

1152.2
1153.5
1154.6

396.8
397.5
397.7

146.9
143.0
140.3

543.7
540.5
538.0

JULY
AUG.
SEP.

371.8
374.7
376.1

131.6
131.2
131.3

503.4
505.9
507.4

195.2
195.9
196.5

217.5
216.8
215.8

412.7
412.7
412.3

571.6
574.9
579.4

585.2
583.4
580.7

1156.8
1158.3
1160.1

398.7
395.8
390.9

136.4
133.4
131.0

535.0
529.2
521.9

OCT.
NOV.
DEC.

376.7
377.4
378.4

130.0
129.4
127.6

506.7
506.8
505.9

197.7
198.2
199.4

213.9
212.9
211.4

411.5
411.1
410.8

588.1
589.5
598.1

573.3
572.3
566.1

1161.4
1161.8
1164.2

386.8
387.4
386.1

128.3
125.1
121.1

515.1
512.5
507.1

1991-JAN.
FEB.
MAR.

377.7
383.2
388.9

127.5
128.3
130.3

505.2
511.5
519.2

201.4
203.2
205.8

210.6
212.1
214.7

412.0
415.4
420.5

601.6
605.5
607.8

562.3
557.2
550.5

1163.9
1162.7
1158.3

394.0
401.1
399.9

118.0
114.9
111.6

511.9
516.0
511.5

393.7
399.8
404.3

132.9
136.3
137.7

526.6
536.1
542.0

208.9
211.5
215.1

218.4
221.7
223.9

427.2
433.2
439.0

604.1
601.2
601.6

546.2
539.4
527.8

1150.2
1140.6
1129.4

398.0
398.2
396.7

108.7
104.5
100.7

506.7
502.7
497.4

6
13
20
27

397.0
399.9
400.5
400.6

135,
136,
136,
136.

532,
535.
537.
537,

210.2
210.8
211.5
212.4

220,
221.
222,
222,

430.
432.
433.
434.

602.
601.
600.
600.

542,
541.
539.
537,

1145,
1142.
1140.
1138.

397.8
397.7
398.7
398.1

106,
105.
104,
103,

504.0
502.8
503.2
501.4

3
10
17
24p

401.8
404.3
405.5
404.1

136.8
137.2
137.9
138.1

538.
541.
543.
542,

213.
214.
215.
215.

222.
223,
224.
224.

435.
437.
439.
439.

601.
602.
601.
601.

533,
530,
528.
526.

1135.
1132.
1129.
1127,

398.
399,
399,
396,

102.
101,
100.
99.8

501,
500,
500.
496,

lp y. 404.5

138.2

542.6

216.0

224.4

440.5

600.4

524.5

1124.9

390.5

APR.
MAY
JUNE |
p

Neek ending
1991-MAY

JUNE

JULY

1.
2.

99.6

490.1

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.
3.
Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
4.
Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, and foreign banks and
official institutions.
p--indicates preliminary data.




H.6 (508)
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Debt components 4

Non-M3 Components of L
Institutiononly money
market funds

Date

Savings
bonds

Short-term
Treasury
securities1

Bankers
acceptances2

Commercial
paper 3

Federal
debt

Non-Federal
debt

1990-FEB.
MAR.

103.4
105.2

118.4
119.2

327.3
336.9

38.5
37.2

345.6
344.1

2291.6
2316.1

7605.5
7653.5

APR.
MAY
JUNE

106.9
107.6
108.1

119.9
120.7
121.4

329.9
315.4
331.7

36.0
35.4
34.7

351.9
349.1
349.1

2330.6
2345.1
2374.2

7696.0
7725.3
7754.2

JULY
AUG.
SEP.

109.8
114.0
116.2

122.2
123.0
123.8

333.9
328.6
331.9

33.0
32.3
31.8

348.2
347.0
359.0

2401.7
2439.6
2461.9

7787.1
7817.8
7850.5

OCT.
NOV.
DEC.

119.6
120.5
125.7

124.5
125.2
126.0

329.9
332.8
333.7

32.6
34.0
34.7

358.8
359.0
359.4

2473.9
2507.3
2534.3

7875.6
7892.2
7901.8

1991-JAN.
FEB.
MAR.

130.1
139.3
142.0

126.7
127.8
128.9

332.3
331.3
326.2

36.0
35.2
32.4

363.2
355.9
352.0

2556.3
2588.6
2599.7

7911.4
7937.4
7964.2

145.6
146.2
143.3

130.1
131.4 p

299.9
288.7 p

30.7
28.8 p

337.6
322.6 p

2590.8
2613.1 p

7987.1
8014.1 p

APR.
MAY
JUNE P

Neek ending
6
13
20
27

145.5
148.5
146.1
146.1

JUNE

3
10
17
24p

143.9
145.4
144.1
143.0

JULY

IP

140.0

1991-MAY

1.

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.
3.
Total commercial paper less commercial paper held by money market mutual funds.
4.
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.




H.6 ( 5 0 8 )
Table 5

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars> not seasonally adjusted
Other checkable deposiits

Currency

Date

1

Travelers Demand 3
checks 2 deposits

At
commercial
banks 4

At
thrift
inst? tutions5

Nontransactions
components

Total

In M 2

6

In M3
only7

Overnight
RPs 8

Overnight
Eurodollars9

General purpose
and broker/dealer
money market funds

1990-FEB.
MAR.

224.4
227.1

7.2
7.3

271.3
271.6

199.7
202.4

85.8
87.8

285.5
290.1

2457.2
2471.5

816.0
808.1

67.5
67.0

14.9
14.9

327.8
331.6

APR.
MAY
JUNE

229.6
231.8
234.9

7.3
7.5
8.1

280.0
268.9
275.2

209.6
200.9
204.0

91.5
88.2
88.7

301.1
289.1
292.7

2474.8
2465.5
2473.3

798.0
801.5
796.7

64.3
66.7
66.9

15.1
16.5
15.5

330.9
321.7
322.2

JULY
AUG.
SEP.

237.3
239.4
241.0

8.6
8.9
8.8

277.3
276.8
278.2

201.4
201.8
203.9

88.2
87.6
87.1

289.7
289.4
291.1

2485.7
2495.7
2497.8

792.9
798.1
790.4

68.2
67.5
65.0

15.8
15.2
16.4

325.0
334.6
339.2

OCT.
NOV.
DEC.

242.8
245.7
249.6

8.4
8.0
7.8

278.0
280.5
289.9

203.0
206.0
211.5

85.4
85.9
85.5

288.4
291.9
297.0

2504.0
2501.0
2497.3

784.8
788.8
782.2

66.0
60.3
54.6

17.5
17.3
19.4

341.1
343.4
345.5

1991-JAN.
FEB.
MAR.

249.8
252.7
255.6

7.8
7.8
7.8

277.7
268.1
270.1

213.7
211.4
215.7

84.2
83.5
85.9

297.9
294.9
301.6

2508.0
2521.6
2539.1

789.4
803.4
794.1

51.5
51.0
48.6

19.7
19.1
20.5

354.2
362.3
370.0

APR.
MAY
JUNE

P

256.0
257.4
259.1

7.5
7.8
8.1

277.6
271.5
279.5

222.5
217.1
221.8

89.4
87.9
89.1

311.8
305.0
310.9

2543.5
2532.9
2534.0

783.5
779.4
768.0

49.1
49.6
49.6

20.0
17.7
16.0

368.5
360.5
358.0

6
13
20
27

257.3
257.7
257.2
257.6

7.6
7.7
7.8
7.9

274.2
273.5
273.6
263.1

218.9
217.8
216.7
214.9

90.3
88.2
87.4
85.7

309.2
306.0
304.1
300.6

2529.9
2533.1
2535.7
2534.1

778.2
781.1
778.8
781.5

49.0
47.5
51.2
50.5

19.0
18.4
18.1
17.3

360.1
360.8
359.5
361.7

JUNE

3
10
17
24p

257.1
260.2
259.1
258.4

7.9
8.0
8.1
8.2

276.0
282.5
282.9
271.6

219.8
225.3
223.2
218.6

89.4
91.2
89.9
86.8

309.1
316.5
313.1
305.4

2532.0
2539.0
2539.1
2529.5

774.4
773.8
772.6
766.7

49.9
49.2
50.3
49.2

14.6
15.4
15.7
16.5

360.0
359.0
359.1
357.8

JULY

lp

259.0

8.3

283.4

220.1

88.2

308.3

2529.1

754.1

49.6

16.9

354.6

Week ending
1991-MAY

1.
2.

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollai—denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are
included in demand deposits.
3.
Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government
and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float.
4.
Consists of NOH and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
5.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
6.
Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs and savings and small time deposits.
7.
Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated
amount of overnight RPs and Eurodollars held by institution-only money market mutual funds.
8.
Consists of overnight and continuing contract RPs issued by all depository institutions to other than depository institutions and money market
mutual funds (general purpose and broker/dealer).
9.
Issued by foreign branches of U.S. banks worldwide to U.S. residents other than depository institutions and money market mutual funds
(general purpose and broker/dealer ).
e—indicates estimated data,
p—indicates preliminary data.



H.6 (508)
Table 5-continued

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

At
A*
thrift
commercial institutions
banks

Date

Total

Small-denomination time deposits 2

Savings deposits1

Money market deposit accounts

A
At
*
commerciai
thrift
l
institutions
banks

Total

At
At
commercial
thrift
banks
institutions

Total

Large-denomination time deposits 3
At
At
commercial
thrift
4
banks
institutions

Total

1990-FEB.
MAR.

359.2
362.8

134.2
135.5

493.4
498.3

189.7
191.9

215.4
218.0

405.1
410.0

537.8
540.6

610.8
609.2

1148.6
1149.7

399.2
399.1

154.1
150.0

553.3
549.1

APR.
MAY
JUNE

364.6
362.7
367.4

135.0
133.0
131.9

499.6
495.7
499.3

192.9
193.3
195.3

219.8
219.2
219.3

412.7
412.5
414.6

544.4
552.9
563.9

607.8
599.6
590.9

1152.2
1152.4
1154.8

394.6
397.1
397.2

146.0
142.8
140.1

540.6
539.9
537.2

JULY
AUG.
SEP.

369.1
373.5
375.0

130.6
130.8
130.9

499.8
504.3
505.9

197.2
196.5
196.2

219.7
217.5
215.4

416.9
414.0
411.7

573.2
575.8
579.1

586.8
584.3
580.4

1160.1
1160.2
1159.5

397.3
396.7
392.7

135.9
133.7
131.6

533.2
530.4
524.3

OCT.
NOV.
DEC.

375.8
379.7
381.6

129.7
130.1
128.7

505.6
509.8
510.3

198.2
197.9
197.7

214.4
212.6
209.6

412.6
410.4
407.3

588.0
588.5
596.1

573.2
571.3
564.1

1161.2
1159.8
1160.2

389.3
389.9
386.1

129.1
125.9
121.1

518.3
515.9
507.1

1991-JAN.
FEB.
MAR.

380.6
384.7
391.1

128.4
128.8
131.0

509.0
513.5
522.1

199.9
201.5
205.8

209.0
210.3
214.7

408.9
411.8
420.5

602.1
606.1
607.4

562.7
557.7
550.1

1164.7
1163.8
1157.5

392.3
399.7
399.4

117.5
114.5
111.5

509.8
514.2
510.9

p

394.0
395.8
401.7

133.0
134.9
136.8

526.9
530.7
538.5

209.5
212.0
216.5

219.0
222.3
225.4

428.5
434.2
441.8

604.2
600.9
601.9

546.2
539.2
528.1

1150.4
1140.1
1130.0

395.7
397.8
396.2

108.1
104.4
100.6

503.9
502.2
496.8

6
13
20
27

392.1
395.8
396.7
396.5

133.6
134.7
135.3
135.5

525.7
530.4
532.0
532.0

210.4
211.5
212.2
212.7

220.8
222.0
222.7
222.7

431.2
433.6
434.9
435.3

602.4
601.4
600.7
599.8

542.5
541.0
539.3
537.5

1144.9
1142.4
1140.0
1137.3

395.6
396.9
398.0
399.5

105.6
104.9
104.4
103.7

501.2
501.8
502.4
503.2

JUNE

3
10
17
24p

399.2
403.6
404.0
400.1

135.9
136.9
137.4
136.7

535.1
540.6
541.4
536.8

214.1
216.4
216.6
216.4

223.3
225.4
225.8
225.2

437.4
441.8
442.5
441.6

601.7
602.8
601.8
601.3

533.4
530.1
528.2
526.2

1135.0
1132.9
1130.0
1127.5

398.4
399.3
399.0
395.3

102.7
101.6
100.8
99.6

501.1
500.8
499.8
494.9

JULY

IP

400.0

136.6

536.6

217.5

226.0

443.5

601.9

525.9

1127.9

389.3

99.3

488.5

APR.
MAY
JUNE

Heek ending
1991 -MAY

1.
2.
3.
4.

Savings deposits exc!
lude MMDAs.
Small-denomination t ime deposits-—includinq 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 t ime deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities,
Large-denomination t:
ime deposits at commercial banks less those held by mone\y 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 adjustea
*
!
Term RPs 1
At
At
Institutionthrift
only money commercial
institutions
banks
funds

i
market

Date

Debt components 6

Non-M3 Oomponents of L

Total

Term
Eurodollars2

Savings
bonds

Short-term
Treasury
securities3

Bankers
acceptances4

Commercial
paper 5

Federal
debt

Non-Federal
debt

1990-FEB.
MAR.

107.1
106.8

51.6
50.1

48.9
48.3

100.5
98.4

68.4
66.7

118.5
119.4

328.8
337.2

37.5
36.1

347.6
343.8

2295.0
2319.2

7569.3
7606.4

APR.
MAY
JUNE

105.9
106.8
106.2

49.5
50.1
53.4

48.7
49.2
48.9

98.2
99.3
102.2

65.3
67.1
64.4

120.2
120.9
121.6

328.6
310.6
321.4

35.3
35.2
34.9

355.4
357.6
355.4

2331.0
2339.7
2363.0

7649.9
7684.4
7721.5

JULY
AUG.
SEP.

108.3
113.1
113.4

53.5
55.5
51.7

47.0
46.5
46.6

100.5
102.0
98.3

65.1
68.3
70.0

122.2
122.8
123.5

323.7
323.9
334.2

33.1
32.4
32.3

348.2
344.9
356.8

2386.8
2422.3
2444.5

7758.7
7785.8
7818.5

OCT.
NOV.
DEC.

117.1
121.2
127.0

50.7
52.3
47.6

44.9
43.4
42.5

95.6
95.7
90.2

70.2
70.0
71.4

124.2
125.0
125.8

334.4
338.9
343.7

32.8
34.6
35.7

353.0
350.3
355.1

2459.3
2498.8
2532.1

7850.7
7871.2
7891.2

1991-JAN.
FEB.
MAR.

134.8
144.0
143.9

46.6
47.1
46.1

41.6
39.7
37.1

88.2
86.8
83.2

71.9
72.6
71.2

126.8
127.9
129.1

339.7
332.5
326.2

36.1
34.3
31.5

365.5
358.0
351.6

2557.7
2590.7
2602.8

7898.0
7900.1
7915.8

144.1
145.2
141.0

46.7
46.2
46.0

35.3
34.8
32.6

82.1
81.0
78.6

68.6
66.5
66.4

130.4
131.6 p

298.6
284.3 p

30.1
28.6 p

341.4
330.7 p

2593.0
2609.2 p

7940.4
7973.2 p

6
13
20
27

142.8
146.7
144.6
147.1

47.2
46.8
45.5
45.8

35.2
35.5
35.1
34.5

82.3
82.3
80.6
80.3

66.8
65.4
66.7
67.0

JUNE

3
10
17
24p

143.4
143.4
141.8
140.9

45.4
46.5
46.7
45.9

33.0
33.1
32.8
32.4

78.4
79.6
79.4
78.4

67.0
65.1
66.7
67.1

JULY

IP

136.1

44.9

31.8

76.7

66.6

APR.
MAY
JUNE P

Neek ending
1991-MAY

Term RPs are those with original maturities greater than one day* excluding continuing contracts and retail RPs.
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
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.
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.'




H.6 ( 5 0 8 )
Table 6

MEMORANDUM ITEMS

10

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

Foreign
Foreign
official
commercial
institutions
banks

Date

U.S. government depos;its
Time and savinas
deposits due to
foreign banks
and official
institutions

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note balances
at depository
institutions

Total
cash
balance

IRA and Keogh Accounts
Time and
savings
At
deposits
thrift
at commercial commercia 1
banks
institutions
banks

At
money
market
funds

Total

1990-FEB.
MAR.

9.0
9.0

1.6
1.6

3.4
3.4

3.5
3.6

6.2
5.3

18.5
13.1

28.2
22.0

1.3
1.3

111.9
113.3

133.9
133.9

33.0
33.6

278.9
280.8

APR.
MAY
JUNE

9.2
9.4
9.1

1.5
1.7
1.5

3.4
3.4
3.3

5.1
3.4
5.5

4.4
5.1
5.0

14.9
21.8
15.4

24.4
30.3
25.9

1.3
1.3
1.2

115.6
117.7
119.5

134.0
133.8
133.6

34.0
34.2
34.3

283.6
285.8
287.4

JULY
AUG.
SEP.

9.0
9.2
9.4

1.5
1.8
1.9

3.3
3.2
3.2

3.4
3.8
5.1

5.4
5.4
6.4

11.9
19.7
25.9

20.6
28.9
37.5

1.3
1.4
1.2

121.1
122.6
124.4

133.5
133.1
132.5

34.4
35.2
36.9

289.0
291.0
293.8

OCT.
NOV.
DEC.

9.0
8.9
8.8

1.5
1.4
1.4

3.6
3.3
3.2

3.5
3.7
5.0

5.5
5.6
5.2

17.5
15.4
18.1

26.4
24.8
28.2

1.4
1.4
1.4

126.8
128.6
130.3

132.0
131.5
130.7

37.9
39.2
40.7

296.7
299.3
301.7

1991-JAN.
FEB.
MAR.

9.2
8.2
8.1

1.5
1.5
1.4

3.2
3.2
3.2

4.9
4.2
5.1

7.8
11.5
6.8

24.5
35.1
23.3

37.2
50.8
35.1

1.3
1.3
1.3

132.1
133.6
135.3

130.3
130.3
130.3

41.5
42.1
42.8 e

303.9
306.0
308.4 e

APR.
MAY
JUNE

p

8.6
8.3
7.7

1.4
1.4
1.4

3.3
3.3
3.3

5.3
3.6
5.0

4.7
5.6
6.3

15.0
16.2
18.6

25.1
25.4
29.9

1.3
1.5
1.6

137.3
138.9
140.2

129.9 e
129.2 e
127.7 e

43.6 e
44.0 e
44.5 e

310.8 e
312.1 e
312.4 e

6
13
20
27

8.8
8.1
8.2
8.3

1.5
1.4
1.4
1.4

30.
17.
6.
10.

42.
25.
16.
18.

JUNE

3
10
17
24p

8.5
7.6
7.6
7.6

1.3
1.4
1.4
1.3

18.
5.
7.
31.

28.4
14.8
19.7
43.0

JULY

lp

7.8

1.5

31.5

44.9

Week ending
1991-MAY

e--indicates estimated data.
p--indicates preliminary data.




3.3

4.3

9.2

1.6