Full text of H.6 Money Stock Measures : July 13, 1995
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"o b l £ £ v / z FEDERAL RESERVE statistical release H.6 (508) Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES6 For release at 4:30 p.m. Eastern Time Billions of dollars J U L Y 13, 1 9 9 5 Date M11 M22 M33 DEBT5 Seasonally adjusted 1993-JULY AUG. SEP. OCT. NOV. DEC. 1085.2 1095.1 1104.7 1113.5 1122.4 1128.6 3543.6 3549.3 3559.1 3564.4 3576.7 3583.6 4202.3 4205.5 4214.2 4222.7 4234.4 4242.5 5099.8 5112.4 5110.4 5118.9 5131.7 5150.3 12074.7 12133.1 12186.6 12222.6 12278.4 12343.8 1994-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 1132.5 1137.0 1141.1 1142.8 1143 .5 1147.0 1152.2 1150.8 1151.0 1148.1 1147.5 1147.8 3589.1 3586.2 3597.4 3605.4 3608.5 3605.3 3616.2 3614.2 3613.3 3609.0 3610.3 3615.1 4245 .9 4232.0 4240.6 4250.8 4251.4 4256.6 4273.8 4272.7 4278.4 4284.6 4290.5 4303.1 5165.4 5162.6 5165.5 5181.9 5190.4 5188.5 5213.3 5214.6 5220.3 5238.7 5247.6 5292.6 12385.9 12434.6 12498.6 12556.0 12612.1 12651.6 12677.0 12740.1 12797.5 12844.5 12913.6 12955.5 1995-JAN. FEB. MAR. APR. MAY JUNE 1148.8 1147.1 1147.8 1149.6 1142.9 1143.7 3626.8 3622.2 3629.7 3642.2 3657.4 3692.2 4325.8 4334.0 4355.6 4377.1 4405.9 4450.4 5319.7 5361.6 5405.8 5450.4 5482.6 p 13010.0 13090.3 13149.9 13202.2 13261.3 p p Not seasonally adjusted 1993-JULY AUG. SEP. OCT. NOV. DEC. 1083 1088 1099, 1112, 1129. 1153 , 3541.6 3542.3 3548.4 3561.3 3584.2 3606.1 4195.7 4200.1 4201.9 4217.2 4246.7 4266.3 5087.3 5101.3 5092.6 5110.2 5151.2 5184.9 12031.2 12083.8 12145.8 12184.2 12251.4 12336.0 1994-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 1142.3 1124.2 1131.4 1152.7 1132.5 1142 .3 1150.9 1143.9 1146.1 1147.3 1155.3 1173.5 3595.6 3573.3 3596.1 3622.6 3595.6 3600.4 3615.0 3606.7 3602.7 3606.1 3618.6 3638.6 4254.8 4221.8 4238.2 4264.2 4240.5 4250.2 4267.5 4266.3 4266.0 4279.8 4304.9 4329.2 5187.1 5155.5 5165.9 5193.8 5170.2 5177.1 5200.8 5203.4 5201.0 5229.8 5269.7 5330.3 12378.4 12407.7 12459.1 12499.1 12544.3 12604.5 12 63 6 . 6 12691.8 12753.8 12804.0 12884.8 12947.2 1995-JAN. FEB. MAR. APR. MAY JUNE 1158, 1134. 1138, 1158, 1132, 1139, 3633.2 3608.5 3627.7 3658.6 3645.1 3687.7 4335.4 4322.7 4351.5 4388.9 4395.6 4444.0 5342.7 5353.3 5405.1 5460.5 5461.3 p 12984.9 13037.6 13102.1 13135.9 13174.6 p p Footnotes appear on the following page p preliminary # # # # # # # # # # # Page 2 H.6 (508) Table 2 MONEY STOCK AND DEBT MEASURES Percent change at seasonally adjusted annual rates M3 DEBT1 f r o m MAR. 1995 TO JUNE 1995 -1.4 6.9 8.7 5.2 6 Months f r o m DEC. 1994 TO JUNE 1995 -0.7 4.3 6.8 5.4 i o w M2 3 Months 2.4 4.6 5.1 -1.0 4.4 7.0 12 M o n t h s f r o m JUNE 1994 t o JUNE 1995 T h i r t e e n w e e k s e n d i n g JULY 3 , 1995 f r o m t h i r t e e n weeks e n d i n g : APR. 3 , 1995 (13 w e e k s p r e v i o u s ) 1. M1 JAN. 2/ 1995 (26 weeks p r e v i o u s ) -0.4 3.0 5.6 JULY 4, 1994 (52 w e e k s p r e v i o u s ) 0.1 1.6 3.8 Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, February 1995 to May 1995, November 1994 to May 1995, and May 1994 to May 1995, 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 (NOW) and automatic transfer service (ATS) accounts at depository institutions, credit union share draft accounts and demand deposits at thrift institutions. Seasonally adjusted M1 is calculated by summing currency, travelers checks, demand deposits, and OCDs, each seasonally adjusted separately. Consists of M1 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, savings deposits (including money market deposit accounts), 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-M1 component as a whole and then adding this result to seasonally adjusted M1. 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 foreign banks and 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: The debt aggregate is the outstanding credit market debt of the domestic nonfinancial sectors — t h e federal sector (U.S. government, not including governmentsponsored enterprises or federally related mortgage pools) and the nonfederal sectors (state and local governments, households and nonprofit organizations, nonfinancial corporate and nonfarm noncorporate businesses, and farms). Nonfederal debt consists of mortgages, tax-exempt and corporate bonds, consumer credit, bank loans, commercial paper, and other loans. The data, which are derived from the Federal Reserve Board's flow of funds accounts, are break-adjusted (that is, discontinuities in the data have been smoothed into the series) and month-averaged (that is, the data have been derived by averaging adjacent month-end levels). The presentation of the debt data in this release differ, therefore, from the quarterly flow of funds statistics contained in the Federal Reserve releases Z.7 and Z.1. In those releases, published levels of credit market debt are measured on a quarter-end basis and contain discontinuities. Page 3 H.6 (508) Table 3 MONEY STOCK MEASURES Billions of dollars Seasonally adjusted M1 Period ending M2 M3 13-week average 4-week average week average 13-week average 4-week average week average 13-week average 4-week average week average 17 24 1148.2 1148.1 1148.1 1148.j 1148.7 1148.6 1150.2 1150.0 1149.6 3627.8 3628.2 3629.6 3637.2 3636.8 3638.5 3640.0 3635.2 3646.5 4343.8 4347.6 4351.8 4363.3 4367.4 4371.2 4367.0 4376.7 4386.5 MAY 1 8 15 22 29 1148.3 1147.8 1147.5 1147.3 1146.9 1149.8 1148.2 1146.5 1144.8 1142.7 1149.4 1143.6 1143.2 1142.8 1141.2 3631.8 3633 .4 3635.6 3638.7 3642.3 643.1 i 645.2 .649.4 ."52.6 3656.8 3650.7 3648.5 3651.8 3659.2 3667.7 4356.5 4361.5 4366.8 4372.9 4378.5 4380.7 4387.7 4393.3 4399.1 4405.4 4392.5 4395.2 4399.1 4409.4 4417.7 JUNE 5 12 19 26p 1146.7 1146.4 1145.9 1145.5 1142.8 1143.0 1143.5 1144.3 1144.0 1143.8 1144.8 1144.7 3647.0 3651.9 3656.5 3661.1 3664, 3673 , 3682 , 3690, 3678.3 3687.9 3696.3 3699.8 4385.4 4393.0 4400.4 4407.0 4414.3 4426.3 4438.3 4448.0 4431.1 4447.1 4457.4 4456.4 JULY 3p 1145.4 1144.1 1143.0 3666.3 3696.0 3699.8 4415.2 4455.5 4461.1 1995-APR. 10 Not seasonally adjusted 1995-APR. 10 17 24 1141.8 1142.0 1142.5 1144.5 1153.6 1 8 15 22 29 JUNE JULY MAY 1160.1 1171.0 1174.2 1149.6 3624.9 3626.6 3628.7 3644.5 3654.7 3661.1 3680.7 3671.8 3645.5 4341.9 4346.2 4350.4 4366.6 4380.6 4388.5 4401.6 4410.9 4381.2 1143.7 1143.4 1143 .5 1143.2 1142.8 1158.0 1151.3 1142.4 1136.4 1131.3 1137.3 1144.2 1138.5 1125.5 1117.1 3631.9 3633.8 3636.4 3639.2 3642.8 3657.7 3648.7 3642.3 3641.3 3643.7 3632.6 3645.0 3646.2 3641.5 3642.0 4355.1 4360.1 4365.5 4371.5 4377.4 4391.1 4388.5 4384.4 4387.6 4394.7 4370.5 4391.3 4394.4 4394.3 4398.7 5 12 19 26p 1143.1 1143.4 1143.6 1143.2 1133.2 1135.7 1139.3 1139.6 1151.6 1148.6 1139.8 1118.5 3648 3653 3658, 3661, 3655.0 3669.0 3681.1 3687.1 3690.1 3702.4 3689.8 3666.1 4385.2 4393.6 4400.9 4406.2 4407.9 4425.6 4439.6 4444.3 4444.1 4465.1 4450.3 4417.5 3p 1143.2 1138.1 1145.3 3665.4 3688.7 3696.4 4412.8 4444.8 4446.2 Note: Special caution should be taken in interpreting week-to-week changes in money supply data, which are highly volatile and subject to revision p preliminary data. Page 4 H.6(508) Table 4 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Currency1 Date 1. 2. 3. 4. 5. 6. 7. e Travelers checks2 Demand deposits3 Nontransactions components Other checka ble deposits At commercial banks4 At thrift institutions5 112.6 112.8 Total In M26 In M3 only7 411.6 412.5 2449.1 2456.3 645.8 643.2 2462.6 2465.0 2458.3 645.4 643.0 651.3 1994-FEB. MAR. 328.9 332 .0 8.0 8.0 388.6 388.6 299.0 299.7 APR. MAY JUNE 334.5 337.3 340.0 ,8.1 8.1 299.1 300.5 301.0 112.9 8.2 388.1 385.6 386.3 111.5 412.0 412.4 412.5 JULY AUG. SEP. 342.8 345.1 347.2 8.3 8.3 8.4 388.0 386.6 386.5 301.7 301.0 300.0 111.4 109.7 108.9 413.1 410.8 408.9 2464.0 2463.4 2462.3 657.6 658.5 665.1 OCT. NOV. DEC. 350.0 353.0 354.5 8.3 8.4 8.4 384.4 382.3 382.0 298.0 297.7 297.6 107.5 2460.9 2462.8 2467.2 675.6 105.3 405.4 403.8 402.9 1995-JAN. FEB. MAR. 357.7 358.8 362.5 8.4 8.4 8.8 383.4 384.0 383.2 295.1 291.8 289.3 104.2 104.1 104.0 399.3 395.9 393.3 2477.9 2475.1 2481.8 699.0 711.8 725.9 APR. MAY JUNE p 365.7 368.1 367.4 9.2 9.2 9.0 381.2 380.6 386.8 289.6 281.9 276.4 103.9 103.1 104.2 393.6 385.0 380.5 2492.6 2514.6 2548.4 734.9 748.5 758.2 Week ending 1995-MAY 8 15 22 29 367.1 368.3 368.6 368.5 9.2 9.2 9.2 9.2 378.3 379.8 380.7 382.3 285.0 284.0 281.9 278.0 103.9 102.0 102.4 103.2 388.9 386.0 384.3 381.3 2504.9 2508.6 2516.4 2526.5 746.8 747.3 750.2 750.0 112.0 106.1 680.2 688.0 JUNE 5 12 19 26p 368.0 367.4 367.3 367 . 8 9.1 9.1 9.0 9.0 385.9 387.0 388.0 386.7 276.2 276.5 276.9 276.6 104.8 103.9 103.6 104.6 381.0 380.3 380.5 381.2 2534.2 2544.1 2551.5 2555.2 752.8 759.2 761.1 756.5 JULY 3p 366.6 9.0 386.7 275.9 104.9 380.7 2556.8 761.3 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 NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. Sum of overnight RRs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including money market deposit accounts) and small time deposits. This sum is seasonally adjusted as a whole. Sum of large time deposits, term RRs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overnight RRs and Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted as a whole. estimated p preliminary Page 5 H.6 (508) Table 4 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Savings deposits1 Date Small-denomination time deposits2 General purpose and Institutionbroker/ only money dealer market funds money market funds commercial banks At . thrift institutions Total At commercial banks 1994-FEB. MAR. At . thrift institutions 792 .7 7 9 1 .5 429 . 1 4 3 0 , .5 1 2 2 1 . ,9 1 2 2 2 . ,0 464.5 463.1 310.5 308.9 775.0 772.0 359 . 5 361 .9 APR. MAY JUNE 7 8 8 , ,9 7 8 4 , ,6 7 8 0 . ,0 4 3 1 ., 1 4 3 0 . ,2 4 2 6 . ,8 1220. 0 1214. 8 1206. 8 462.3 464.6 467.4 307.9 306.2 305.5 770.1 770.8 772.9 JULY AUG. SEP. 778. 0 775. 7 772. 8 423. 2 417. 0 410. 9 1201. 2 1192. 6 1183. 7 469.9 476.0 481.2 306.1 306.2 307.8 OCT. NOV. DEC. 765. 4 759. 2 752. 3 405. 6 398. 5 391. 9 1171. 0 1157. 8 1144. 2 487 . 7 494.0 502.4 1995-JAN. FEB. MAR. 744.1 734.2 723.3 385.6 377.6 371.5 1129.8 1111.9 1094.9 APR. MAY JUNE 716.0 717.3 728.0 366.4 364.2 363 . 1 365 364 364 363 At p Large-denomination time deposits3 At . commercial At thrift Total 182.1 183.8 270.1 268.8 61.7 61.4 331.8 330.3 370 . 5 373 . 5 370 .7 183.1 177.5 177.9 268.0 272.0 274.0 61.8 60.4 61.0 329.8 332.4 335.0 776.0 782.2 789.0 3 7 6 ,, 1 3 7 7 , ,0 3 7 7 . ,4 178.7 177.4 176.3 276.3 279.8 284.6 61.9 61.7 62.7 338.2 341.5 347.3 311.3 315.8 317.3 799.0 809.8 819.8 379. 5 383. 3 389. 0 180.8 180.5 180.8 289.3 293.8 298.3 63.7 63.9 64.3 353.0 357.7 362.7 512.4 524.0 537 . 6 322.7 330.9 340.1 835.1 854.9 877.7 392.1 391.5 390.9 186.3 180.4 189.0 296.9 303.8 308.3 66, 67 , 69. 363.0 371.4 377.8 1082.5 1081.5 1091.1 547.9 555.7 562 . 5 348.3 354.0 354.5 896.2 909.8 917.0 396.0 405.3 425.9 192.9 194.8 205.6 308.3 314.8 317.1 70.6 69.8 70.2 378.9 384.6 387.3 .1 .2 .2 .6 1080.6 1079.9 1080.9 1084.7 553 555 556 557 .4 .2 .6 .7 352.4 353.9 354.6 355.1 905.8 909.0 911.2 912.8 400 401 407 410 .1 .4 .3 .6 192.2 192.2 194.7 198.8 313.6 316.0 315.6 314.0 69.8 70.0 69.8 69.4 383.5 386.0 385.4 383.4 Total WeeK 1995-MAY JUNE JULY 1. 2. .5 .7 .7 .1 8 15 22 29 715 715 716 721 5 12 19 26p 7 2 5 , .7 7 2 9 , .0 7 2 9 . ,2 728. 3 363 . 1 362 .7 3 6 3 , .4 3 6 3 , .6 1088.8 1091.7 1092.6 1091.9 559 .2 561,. 1 563, .3 563, .9 355.1 355.0 354.2 354.4 914.4 916.1 917.5 918.2 4 1 5 , .5 4 2 3 , .0 4 2 6 , ,2 4 2 9 . ,9 199.7 205.6 206.5 206.6 318.0 318.1 318.1 316.5 69.7 69.6 70.0 70.5 387.6 387.7 388.1 387.0 3p 726. 4 3 6 2 . ,2 1088.6 5 6 4 . ,9 353.9 918.8 436. 4 209.7 313.6 71.5 385.0 Savings deposits include money market deposit accounts " ~ — Small-denomination time deposits-including retail R P s - a r e 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. 4. ^ ^ S n o m l n ^ n SmS d ^ S t a p preliminary and foreign banks and Page 6 H.6 (508) Table 4-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Debt components4 Non-M3 Components of L Date Savings bonds Bankers acceptances2 Commercial paper3 Federal debt Non-Federal debt 1994-FEB. MAR. 173.2 173.9 341.4 344.7 14.9 15.5 401.2 390.8 3355.1 3379.6 9079.5 9119.0 APR. MAY JUNE 174.8 175.7 176.7 355.3 1359.1 351.7 14.0 11.6 10.8 387.1 392.6 392.7 3390.6 3402.5 3416.3 9165.4 9209.6 9235.2 JULY AUG. SEP. 177.7 178.5 179.1 358.1 364.2 359.1 10.9 11.4 11.9 392.8 387.7 391.7 3419.3 3436.8 3454.1 9257.7 9303.3 9343.4 OCT. NOV. DEC. 179.5 179.9 180.3 358.5 362.2 372.6 11.8 11.0 10.2 404.2 404.0 426.5 3469.6 3494.1 3497.4 9374.9 9419.6 9458.1 1995-JAN. FEB. MAR. 180.5 180.4 180.5 375.0 391.6 405.2 9.8 9.9 10.4 428.7 445.7 454.1 3504.7 3535.8 3557.5 9505.3 9554.4 9592.4 180.9 181.6 406.8 404.3 10.3 9.6 475.2 481.2 3559.5 3577.0 9642.7 9684.3 APR. MAY p 1. Short-term Treasury securities' 2. 3. 4. 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. p preliminary Page 7 H.6 (508) Table 5 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT 7. 8. 648.5 642.1 73.7 77.0 21.2 23.0 2469.9 2463.1 2458.1 641.6 644.9 649.8 77.6 78.5 80.7 21.3 24.1 26.2 410.0 406.2 405.6 2464.1 2462.8 2456.6 652.5 659.6 663.3 80.5 82.0 83.7 29.1 28.9 28.1 107.4 107.1 107.0 401.4 403.1 407.6 2458.8 2463.4 2465.1 673.7 686.3 690.5 83.5 83.0 84.2 30.3 30.1 32.5 301.3 292.3 291.1 104.4 101.8 103.0 405.7 394.1 394.2 2474.8 2474.4 2489.7 702.1 714.2 723.8 87.0 86.1 86.8 36.4 31.6 30.7 381.9 372.8 382.6 296.6 279.8 275.0 105.7 102.6 104.2 402.3 382.4 379.2 2500.0 2513.1 2548.5 730.3 750.6 756.4 84.6 84.9 84.7 30.1 30.0 29.7 8.9 8.9 9.0 9.0 374.1 376.2 369.8 367.7 286.9 282.4 278.1 272.3 105.6 102.7 101.1 100.3 392.4 385.2 379.2 372.7 2500.9 2507.7 2516.0 2524.9 746.3 748.2 752.8 756.6 83.7 86.4 84.8 84.3 28.3 28.4 30.0 32.8 369.1 369.4 367.8 366.5 9.1 9.1 9.2 9.3 387.1 385.6 382.9 372.7 279.3 278.5 276.2 269.1 107.1 106.0 103.8 100.9 386.4 384.5 380.0 370.0 2538.4 2553.8 2549.9 2547.6 754.0 762.7 760.5 751.4 84.4 84.9 84.5 85.4 30.8 30.1 29.1 29.5 368.3 9.4 390.7 272.5 104.4 377.0 2551.1 749.8 83.6 29.3 Demand deposits3 1994-FEB. MAR. 327.3 330 .6 7.7 7.8 APR. HAY JUNE 334.3 337 .2 340.5 JULY AUG. SEP. At commercial banks4 At thrift institutions5 Total 379.5 379.6 299.6 301.6 110.3 112.0 409.8 413.5 2449.1 2464.7 7.8 7.9 8.3 389.2 377.7 382.3 306.4 298.1 299.5 115.0 111.6 111.7 421.4 409.7 411.2 344.7 345.7 347.0 8.8 8.9 8.8 387.3 383.1 384.7 298.4 297.2 297.4 111.6 109.0 108.3 OCT. NOV. DEC. 349.6 353 .2 357.6 8.5 8.2 8.1 387.8 390.7 400.1 294.1 296.0 300.6 1995-JAN. FEB. MAR. 355.9 357.1 361.4 8.1 8.1 8.4 388.7 374.9 374.0 APR. MAY JUNE p 365.5 367.8 368.1 8.8 8.9 9.2 8 15 22 29 368.8 368.2 367.6 367.8 JUNE 5 12 19 26p JULY 3p 1995-MAY 4 5. 6. Overnight Eurodollars9 Travelers checks2 Week endina 1 2 3! Nontransactions components Other checkable deposits Overnight Currency1 Date In M26 In M3 only7 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 NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including money market deposit accounts) and smai time deposits 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. 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 Digitized 9. for FRASER S ^ t l i g n branches of U.S. banks worldwide to U.S. residents other than depository institutions and money market mutual funds (general purpose and broker/dealer). • • • • • • • • • • Page 8 H.6 (508) Table 5 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted 1214 . 9 1222 .7 At commercial banks 464 .6 462, • 9 At . thrift institutions 310, .6 3 0 8 , .8 775 .2 7 7 1 ,. 6 General purpose and broker/ dealer money 4 market funds 364 . 1 370 .3 4 3 2 , .3 4 3 0 . ,6 4 2 8 ,, 1 '1223 .4 1215 .9 1210 .4 4 6 1 , .8 4 6 3 , ,7 4 6 7 , ,0 3 0 7 , ,5 305, 5 305. 2 7 6 9 , ,3 7 6 9 , ,2 7 7 2 ,, 1 780. 0 777 . 0 772 . 7 424. 3 417. 7 410. 8 1204, .3 1194, .6 1 1 8 3 , .6 470. 5 476. 5 481. 7 306. 5 306. 5 308 . 2 OCT. NOV. DEC. 765. 5 761. 4 751. 1 405. 7 399. 7 391. 2 1 1 7 1 ,, 1 1 1 6 1 , ,0 1 1 4 2 . ,3 488. 3 493. 7 502 . 0 1995-JAN. FEB. MAR. 739.5 729.8 723 . 4 383.2 375.3 371.6 1122.7 1105.1 1094.9 APR. MAY JUNE p 717.9 717.9 730.1 367.4 364.5 364.1 Week ending 1995-MAY 8 15 22 29 715.7 717.5 717.1 720.6 5 12 19 26p 3p Savings deposits 1 Date At commercial banks 7 8 8 , .2 7 9 1 , >9 At . thrift institutions 426 .7 430, .8 APR. MAY JUNE 7 9 1 ,, 1 7 8 5 , ,3 7 8 2 , ,3 JULY AUG. SEP. 1994-FEB. MAR. JUNE JULY 1. 2. Small-denomination time deposits 2 Total lal b a S r S d S s ' a ™ iliESiS p preliminary Large-denomination time deposits 3 At . commercial banks* At thrift institutions Total 191 .0 185 .7 2 6 8 , .8 2 6 7 , .3 6 1 .4 61,. 1 330.2 328.4 378 .3 375 .4 368 .7 1 8 1 .8 176 . 8 172, ,5 2 6 6 , ,3 2 7 4 ,, 1 2 7 5 . ,3 61,. 4 6 0 , .9 6 1 , ,3 327.7 335.0 336.6 776. 9 783. 1 789. 9 3 7 3 ,. 4 3 7 4 ,, 2 3 7 1 , .3 1 7 3 , >8 1 7 6 ,. 2 1 7 2 ,. 6 275. 3 281. 1 285. 7 61. 7 61. 9 62. 9 337.0 343.1 348.7 311. 7 315. 7 317. 1 800. 0 809. 3 819. 1 3 7 3 , ,9 3 7 9 . ,9 3 8 7 ., 1 178. 1 182. 5 183. 1 289. 9 295. 2 298. 0 63. 8 64. 2 64. 3 353.7 359.5 362.3 512.9 524.1 537.4 323.0 331.0 340.0 835.9 855.1 877.3 392.8 396.3 399.8 192.4 188.8 190.8 295.5 302.3 306.2 65.8 67.2 69.1 361.3 369.5 375.3 1085.2 1082.4 1094.2 547.3 554.7 562 . 0 347.9 353 .3 354.3 895.2 908.0 916.3 404.8 407.8 423.6 191.3 193.8 199.2 306.1 317.3 318.6 70.1 70.3 70.5 376.3 387.6 389.1 365.2 365.1 364.4 363.4 1080.9 1082.6 1081.4 1084.0 552 . 5 554.1 555.4 556.6 351.8 353.2 353.9 354.4 904.2 907.3 909.3 911.0 403 .7 403.1 410.4 412.8 191.0 191.3 196.2 196.7 314.5 317.7 317.9 319.2 70.0 70.3 70.3 70.5 384.6 388.0 388.2 389.7 729.8 734.8 730.7 726.6 365.2 365.6 364.2 362.7 1095.0 1100.3 1094.9 1089.3 558.3 560.4 562.7 563 . 6 354.6 354.6 353.8 354.2 912.9 915.0 916.5 917.8 415.3 423.5 424.9 425.6 195.1 200.7 200.6 198.7 321.6 321.9 319.9 316.1 70.5 70.4 70.4 70.5 392.0 392.4 390.3 386.5 727 . 4 362.7 1090.1 565.4 354.3 919.7 428.4 200.1 311.0 70.9 381.9 Savings deposits include money market deposit accounts. 3. 4. Total Institutiononly m(Dney market 1unds " i S S M d a m ° " s l9ss , h a " " " W A » ™ K « = g h account balances a t ,: c o m m e r - • • • • • • • • • • • Page 9 H.6 (508) Table 5 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Term RPs1 At commercial banks At thrift institutions Total Term Eurodollars2 1994-FEB. MAR. 64.8 68.3 27.3 27.0 92.1 95.4 47. 9 46.2 173.7 174.6 342.5 348.2 15.5 15.2 402.0 389.7 3345.4 3374.4 9062.4 9084.7 APR. MAY JUNE 71.4 69.1 72.1 27.4 28.8 30.3 98.8 97.8 102.4 46. 5 47.7 50.3 175.4 176.2 176.9 353.1 357.2 348.6 13.7 11.4 10.6 387.3 385.0 390.9 3376.8 3379.7 3394.5 9122.3 9164.6 9210.1 JULY AUG. SEP. 71.0 68.4 68.4 32.0 32.8 33.4 103.0 101.2 101.9 51. 0 51.2 52. 1 177.4 177.9 178.4 355.7 366.1 352.0 10.8 11.1 11.7 389.5 382.0 393.0 3393.9 3418.5 3438.6 9242.7 9273.3 9315.2 OCT. NOV. DEC. 67.2 67.5 67.7 34.7 35.4 37.5 101.9 102.9 105.2 52. 7 54. 5 5 2 . ,4 179.0 179.7 180.2 350.6 366.1 381.6 11.9 11.1 10.4 408.6 408.0 428.9 3448.8 3485.4 3499.0 9355.2 9399.4 9448.2 1995-JAN. FEB. MAR. 70.2 73.1 72.3 39.0 39.7 40.2 109.1 112.7 112.5 5 3 .. 1 5 6 . .3 5 8 . ,3 180.6 180.8 181.2 379.7 393.1 409.5 10.3 10.3 10.2 436.8 446.3 452.7 3499.0 3525.0 3551.1 9485.9 9512.7 9551.0 APR. MAY JUNE 41.0 41.9 41.0 115.6 120.6 118.4 59..8 6 0 . .7 6 1 .7 181.7 182.1 p 404.7 402.7 p 10.1 9.4 p 475.2 471.4 p 3544.1 3552.6 p 9591.8 9621.9 p p 74.5 78.6 77.4 8 15 22 29 79.2 78.3 78.7 78.9 42.4 42.2 41.9 41.5 121.6 120.5 120.7 120.4 60.7 60 .7 59 . 9 62 . 1 JUNE 5 12 19 26p 78.5 79.0 78.5 75.0 41.0 41.6 41.0 40.6 119.6 120.6 119.5 115.6 59 61 61 62 JULY 3p 75.4 40.5 115.8 63 . 8 Date Week en4Wq 1995-MAY 1. 2. Debtcomponents6 Non-M3 Components of L , Savings bonds Short-term Treasury securities* Bankers acceptances4 Commercial paper6 Federal debt Non-Federal debt .2 .2 .8 .6 4. 5. 6. 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. 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. p preliminary 3.