Full text of H.6 Money Stock Measures : July 22, 1993
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FEDERAL RESERVE statistical release H.6 (508) Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURED Billions of dollars JULY 22, 1993 Date MV M22 DEBT5 M33 Seasonally adjusted 1991-JULY AUG. SEP. OCT. NOV. DEC. 861.8 867.9 872.4 879.5 891.0 899.3 3415.9 3417.0 3418.1 3422.5 3435.8 3445.8 4160.7 4156.3 4150.4 4155.5 4162.8 4168.1 4994.5 4983.1 4968.5 4972.3 4983.3 4982.2 11037.0 11073.8 11107.3 11152.0 11198.8 11219.3 1992-JAN. FBB. MAR. APR. MAY JUNE JULY AUO. SEP. OCT. NOV. DEC. 911.5 926.2 935.1 941.2 952.2 952.6 963.3 975.5 990.1 1005.9 1019.1 1026.6 3451.0 3467.7 3467.8 3464.8 3467.5 3462.1 3463.6 3472.4 3480.2 3491.4 3498.0 3496.9 4172.2 4189.0 4184.9 4177.9 4179.8 4170.1 4169.0 4178.7 4183.0 4180.0 4178.5 4166.4 4978.3 4999.1 5010.1 5009.1 5011.0 5014.8 5012.5 5025.9 5037.4 5040.5 5050.9 5043.6 11249.3 11300.0 11357.7 11410.6 11456.5 11507.0 11553.0 11603.4 11642.3 11669.4 11724.1 11779.7 1993-JAN. FBB. MAR. APR. MAY JUNE 1033.3 1033.1 1035.3 1043.2 1067.2 1073.7 3486.9 3475.4 3472.9 3474.6 3505.7 3512.1 4141.0 4135.4 4131.0 4142.1 4171.6 4167.1 5018.2 5013.0 5010.6 5027.3 5069.1 p 11810.0 11848.6 11903.2 11960.9 12021.3 p Not seasonally adjusted 1991-JULY AUO. SEP. OCT. NOV. DEC. 861.9 864.2 866.9 874.8 893.1 916.4 3414.7 3413.3 3407.6 3417.0 3438.4 3457.9 4157.1 4157.8 4140.7 4145.7 4167.7 4178.1 4980.0 4975.7 4959.0 4961.7 4994.9 5004.2 10988.5 11029.5 11074.4 11126.6 11176.9 11209.4 1992-JAN. FBB. MAR. APR. MAY JUNE JULY AUO. SEP. OCT. NOV. DEC. 917.3 916.0 930.5 954.7 943.9 951.9 962.5 970.4 982.8 1000.9 1021.5 1045.8 3456.0 3462.3 3474.8 3486.5 3452.5 3457.2 3461.0 3466.8 3467.8 3485.7 3500.8 3511.1 4174.1 4186.5 4195.2 4195.0 4167.1 4165.0 4163.6 4178.5 4171.5 4170.0 4183.8 4178.5 4993.2 4999.6 5023.4 5024.9 4988.0 5001.9 4996.3 5015.9 5026.7 5029.7 5063.7 5068.1 11236.8 11268.3 11318.0 11367.4 11408.1 11457.8 11507.7 11565.6 11615.3 11648.0 11705.4 11771.3 1993-JAN. FBB. MAR. APR. MAY JUNE 1040.2 1022.2 1030.8 1058.4 1057.9 1073.1 3492.7 3469.4 3479.7 3498.1 3490.1 3507.7 4143.6 4132.8 4141.0 4161.1 4158.1 4162.3 5034.8 5013.3 5024.2 5045.2 5043.9 p 11796.5 11815.2 11863.5 11919.1 11974.3 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 M1 M2 M3 DEBT1 3 Months from MAR. 1993 TO JUNE 1993 14.8 4.5 3.5 5.8 6 Months from DEC. 1992 TO JUNE 1993 9.2 0.9 0.0 5.1 12 Months from JUNE 1992 to JUNE 1993 12.7 1.4 -0.1 4.9 Thirteen weeks ending JULY 12, 1993 from thirteen weeks ending: APR. 12, 1993 (13 weeks previous) 12.0 2.9 2.7 JAN. 11, 1993 (26 weeks previous) 8.9 0.3 -0.3 JULY 13, 1992 (52 weeks previous) 12.1 1.1 -0.3 1. Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, February 1993 to May 1993, November 1992 to May 1993, and May 1992 to May 1993, 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 neld 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, snort-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.1. In those releases, published levels of credit market debt are measured on a quarter-end basis and include discontinuities. Page 3 H.6 (508) Table 3 MONEY STOCK MEASURES Billions of dollars Seasonally adjusted M1 Period en ding M3 M2 13-week average 4-week average week average 13-week average 4-week average week average 13-week average 4-week average week average 19 26 1035.9 1036.4 1040.5 1041.5 1039.0 1040.7 3475.2 3474.1 3473.9 3472.9 3467.8 3470.6 4134.0 4135.1 4135.8 4138.6 4134.6 4146.3 MAY 3 10 17 24 31 1037.9 1040.6 1043.4 1045.8 1048.7 1044.7 1049.9 1057.2 1063.4 1068.3 1054.9 1065.1 1068.2 1065.4 1074.4 3474.8 3477.2 3479.9 3482.1 3484.6 3475.6 3482.9 3493.1 3501.9 3507.2 3487.2 3505.8 3508.6 3505.9 3508.6 4136.9 4141.0 4143.8 4146.5 4148.4 4146.0 4155.3 4165.9 4171.5 4172.3 4160.4 4179.9 4176.9 4168.7 4163.7 JUNE 7 14 21 28 1051.8 1054.7 1057.6 1060.7 1070.2 1070.8 1073.2 1073.8 1072.6 1070.6 1075.3 1076.5 3487.9 3491.3 3494.7 3496.9 3510.3 3512.2 3514.3 3513.1 3518.1 3516.2 3514.4 3503.8 4151.7 4154.9 4158.2 4159.8 4171.0 4169.8 4170.3 4168.3 4174.5 4172.2 4170.6 4155.7 JULY 5p 12p 1063.4 1066.5 1075.0 1078.6 1077.7 1084.7 3498.9 3501.9 3509.1 3509.0 3501.9 3515.9 4161.6 4163.0 4163.4 4160.5 4155.2 4160.3 1993-APR. Not seasonally adjusted 19 9 3 - A P R . 1 9 26 1033.8 1035.5 1054.8 1059.2 1067.7 1038.8 3481.3 3481.5 3502.2 3501.7 3505.0 3466.6 4141.5 4143.5 4161.0 4162.7 4166.5 4138.2 MAY 3 10 17 24 31 1038.3 1041.1 1044.0 1046.0 1049.0 1056.9 1055.7 1054.4 1055.4 1057.4 1051.5 1064.7 1062.6 1042.6 1059.7 3483.0 3485.0 3486.8 3487.6 3489.2 3492.9 3486.9 3485.0 3487.1 3490.1 3476.2 3499.9 3497.1 3475.2 3488.3 4145.7 4149.2 4150.9 4152.3 4153.3 4159.6 4156.2 4156.0 4157.0 4157.9 4145.8 4174.2 4165.6 4142.4 4149.3 JUNE 7 14 21 28 1052.6 1056.3 1059.6 1062.3 1062.7 1067.4 1073.9 1072.9 1086.0 1081.2 1068.6 1055.7 3492.3 3495.4 3497.8 3498.3 3497.8 3505.3 3512.0 3508.6 3530.4 3527.4 3501.8 3474.7 4156.4 4159.0 4161.1 4160.4 4161.9 4167.5 4171.2 4164.3 4190.4 4187.7 4157.3 4121.9 JULY 5p 12p 1065.0 1067.0 1075.3 1079.0 1095.8 1096.0 3498.5 3499.1 3504.6 3505.5 3514.3 3531.2 4160.0 4158.6 4154.9 4150.5 4152.8 4170.1 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 Nontransactions components Other checkable deposits Currency1 Date 1. 2. 3. 4. 5. 6. 7. e Travelers checks2 Demand deposits3 At commercial banks4 At thrift institutions5 Total lnM26 In M3 only7 303 .3 308 .0 249.9 252.1 94.4 95.5 344.3 347.5 2541. 2532. 721 .3 717 . 1 273 .6 275 .1 276 .6 310 .8 314 .7 312 .3 253.4 258.8 259.1 95.7 96.0 96.8 349.0 354.7 355.9 2523. 2515. 2509. 713 . 1 712 .3 708 .0 JULY AUG. SEP. 279 .5 282,.4 286 .3 317 .5 322 .5 329 .0 261.1 264.1 266.6 97.5 98.7 100.1 358.6 362.8 366.7 2500.3 2496.9 2490.2 705 .4 706 .4 7 0 2 ,.8 OCT. NOV. DEC. 288,.0 2 8 9 ,.8 2 9 2 ,.3 336 .0 339 .5 3 4 0 .9 271.9 278.7 281.2 101.9 103.0 104.0 373. 381. 385.2 2485.5 2478.8 2470.2 688 .5 680 .5 6 6 9 ,.6 1993 -JAN. FEB. MAR. 2 9 4 ..8 2 9 6 . .9 2 9 9 . .0 3 4 1 ,.9 3 4 1 , .9 3 4 2 ..0 283.5 283.2 284.0 105.2 103.2 102.4 388.6 386.4 386.3 2453.6 2442.3 2437.5 6 5 4 . .0 6 6 0 . .0 6 5 8 . .2 APR. MAY JUNE P 3 0 1 . .4 3 0 4 . .0 3 0 6 . .8 3 4 7 ..3 3 5 9 ..2 3 6 0 . .7 283.2 290.9 292.2 103.1 104.8 106.0 386.3 395.7 398.2 2431.5 2438.6 2438.4 6 6 7 . .4 6 6 5 . ,8 6 5 5 . .0 Week e n d i n a 1 9 9 3 -MAY 17 24 31 303.9 304.2 305.0 8.2 8.2 8.2 359.9 357.9 362.7 291.3 291.7 293.0 104.8 103.4 105.6 396.1 395.1 398.6 2440.4 2440.5 2434.1 668.3 662.8 655.1 JUNE 7 14 21 28 305.3 306.3 307.7 309.0 8.1 8.1 8.0 8.0 e e e e 360.7 359.4 361.7 361.0 292.8 290.6 292.3 292.7 105.7 106.2 105.5 106.0 398.4 396.8 397.8 398.6 2445.5 2445.6 2439.1 2427.2 656.4 656.0 656.3 651.9 JULY 5p 12p 308.2 308.6 7.9 7.9 e e 361.9 365.5 293.5 295.2 106.2 107.4 399.7 402.7 2424.2 2431.2 653.2 644.4 1992 -FEB. MAR. 270 .8 271 .9 APR. MAY JUNE 7.7 7.7 8.3 8.2 8.1 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 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 small time deposits. This sum is seasonally adjusted as a whole. 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. 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 p Institutiononly money market funds At thrift institutions Total At commercial banks At thrift institutions JQ^ 391.7 398.7 1080.7 1094.3 578.6 571.2 442.9 432.8 1021.5 1004.0 362.3 358.0 192.0 192.2 APR. MAY JUNE 703.9 709.3 713.3 403.6 410.3 412.7 1107.5 1119.6 1126.0 567.9 560.0 552.9 418.2 409.6 402.8 986.1 969.6 955.7 354.5 354.9 353.5 JULY AUG. SEP. 719.5 727.6 737.2 415.0 418.2 421.7 1134.5 1145.7 1158.9 544.6 535.6 527.5 396.9 391.3 385.2 941.5 926.9 912.7 OCT. NOV. DEC. 746.1 752.5 756.1 424.4 427.9 429.9 1170.5 1180.4 1186.0 519.9 511.9 506.9 376.6 369.9 363.2 1993-JAN. FEB. MAR. 754.1 755.8 754.0 430.2 426.6 424.8 1184.4 1182.4 1178.8 502.6 504.0 502.8 APR. MAY JUNE p 756.0 764.7 769.1 425.6 429.0 430.1 1181.6 1193.7 1199.3 17 24 31 766.1 763.8 765.0 428.8 428.8 429.5 JUNE 7 14 21 28 770.2 771.7 767.6 767.4 JULY 5p 12p 767.9 771.1 1993-MAY 3. 4. General purpose and broker/dealer money market funds At commercial banks 689.0 695.6 1992-FEB. MAR. 1. 2. Small-denomination time deposits2 Large-denomination time deposits 3 At commercial banks4 333.7 330.0 At thrift institutions 79.9 77.4 413.6 407.4 195.9 202.2 206.3 326.6 323.0 317.7 75.5 73.0 71.7 402.1 395.9 389.3 350.4 348.9 343.9 212.5 220.9 220.7 311.0 307.8 303.5 71.5 70.3 70.2 382.5 378.1 373.7 896.5 881.7 870.1 346.3 343.7 342.3 210.9 209.2 202.3 296.8 292.8 290.2 70.2 68.5 67.3 367.0 361.3 357.5 358.3 351.1 347.5 860.9 855.1 850.3 339.6 333.6 333.1 197.7 201.9 200.9 283.7 280.8 275.9 67.1 65.5 64.5 350.7 346.3 340.5 499.0 494.7 490.5 344.8 343.1 339.3 843.8 837.8 829.8 331.7 336.5 336.1 200.4 202.8 198.1 280.8 281.6 278.2 65.2 64.4 63.8 346.0 345.9 342.1 1194.8 1192.7 1194.5 494.8 493.7 493.2 343.3 342.5 342.6 838.1 836.2 835.8 334.9 338.1 337.5 203.4 206.0 196.8 281.5 278.3 281.5 64.6 63.8 63.8 346.1 342.1 345.3 429.7 429.6 430.1 431.0 1199.9 1201.3 1197.7 1198.3 492.1 490.9 490.6 488.9 341.6 340.1 338.7 337.7 833.7 831.0 829.3 826.6 337.5 338.3 336.1 333.6 197.0 200.0 197.4 196.6 280.0 279.1 278.4 276.2 63.8 63.4 63.8 64.3 343.8 342.5 342.2 340.4 430.8 430.8 1198.7 1202.0 487.8 486.8 335.9 335.3 823.7 822.2 333.0 336.3 204.1 195.4 275.5 274.6 64.3 63.8 339.8 338.5 Total Savings deposits include money market deposit accounts. 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, U.S. government, and foreign banks and official institutions. preliminary 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 1992-FEB. MAR. 140.2 141.3 320.0 325.1 22 .6 22 .2 327.3 336.7 2801.8 2841.7 8498 . 2 8516 . 0 APR. MAY JUNE 142.4 143.5 144.6 325.9 329.4 330.1 21 .8 22 .0 22 .0 341.0 336.4 348.1 2877. 2908. 2943.8 8533 . 3 8548 . 0 8563 . 2 JULY AUG. SEP. 145.8 147.4 149.3 324.8 322.9 321.0 2 1 .7 21,. 1 2 0 ,.7 351.2 355.7 363.4 2968, 2991. 3004. 8584 . 9 8611 . 8 8638, . 2 OCT. NOV. DEC. 151.9 154.7 156.8 320.1 325.0 331.6 2 0 ..5 2 0 ..3 2 0 ..4 368.0 372.4 368.4 3001.5 3027.9 3069.0 8667. .9 8696.. 2 8710. .7 1993-JAN. FEB. MAR. 158.9 161.1 162.7 337.0 340.5 337.4 2 0 ..6 2 0 ..1 1 9 ..2 360, 355. 360. 3076.3 3090.0 3128.5 8733. . 8 8758. .5 8774. .7 163.9 164.8 336.7 345.2 1 9 ..1 1 9 . .3 365. 368. 3156.8 3185.5 8804. , 1 8835. .8 APR. MAY p 1. £>non-ierm ir securitie 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 Billions of dollars, not seasonally adjusted Currency1 Date 1. 2. 3. 4. 5. 6. 7. 8. 9. Travelers checks 2 Demand deposits3 Nontransactions components Other checkable deposits At commercial banks4 At thrift institutions5 Total In M2 In M3 only 6 Overnight RPs8 7 Overnight Eurodollars9 1992-FEB. MAR. 269.4 271.0 7.5 7.4 296.4 302.6 250.4 254.1 92.3 95.4 342.7 349.5 2546.3 2544.3 724.3 720.4 58.3 54.1 19.6 20.6 APR. MAY JUNE 273.3 275.7 277.2 7.3 7.4 7.8 313.8 308.3 311.4 261.3 255.7 257.7 98.9 96.8 97.8 360.2 352.5 355.5 2531.8 2508.6 2505.3 708.6 714.6 707.8 53.4 50.8 52.7 19.3 18.7 19.8 JULY AUG. SEP. 280.8 282.9 284.6 8.2 8.4 8.5 317.7 319.8 326.1 257.7 260.8 264.0 98.2 98.4 99.6 355.9 359.2 363.6 2498.5 2496.4 2485.0 702.6 711.7 703.6 53.4 59.4 56.1 19.4 16.8 17.7 OCT. NOV. DEC. 287.0 290.0 295.0 8.4 7.9 7.8 336.7 343.9 355.3 268.1 277.0 284.0 100.8 102.7 103.7 368.8 379.7 387.7 2484.8 2479.3 2465.3 684.3 683.0 667.4 55.1 54.2 52.5 19.9 20.9 21.3 1993-JAN. FEB. MAR. 293.6 295.3 297.9 7.8 7.7 7.8 346.2 334.3 336.4 289.1 284.0 286.4 103.6 100.8 102.4 392.7 384.9 388.8 2452.5 2447.2 2448.9 650.9 663.4 661.3 54.5 55.9 57.1 17.8 17.0 16.1 APR. MAY JUNE P 301.4 304.4 307.5 7.8 7.9 8.2 350.7 352.1 359.6 291.9 287.6 290.7 106.7 105.8 107.2 398.6 393.5 397.9 2439.7 2432.2 2434.6 663.0 668.0 654.6 56.3 54.5 56.8 14.7 13.5 13.7 Wegfc e p f l i a q 1993-MAY 17 24 31 304.3 303.8 305.0 7.9 7.9 8.0 356.9 342.7 354.2 287.3 285.3 287.1 106.2 102.9 105.4 393.5 388.2 392.5 2434.5 2432.5 2428.6 668.5 667.3 660.9 56.6 55.7 52.1 12.2 13.6 13.3 JUNE 7 14 21 28 307.8 307.7 307.8 307.0 8.1 8.1 8.2 8.3 e e e e 362.8 363.8 356.2 352.9 296.5 293.2 290.4 283.9 110.8 108.4 106.0 103.6 407.3 401.6 396.4 387.5 2444.4 2446.3 2433.1 2419.0 660.0 660.2 655.5 647.1 58.3 57.1 58.4 54.8 12.7 13.5 14.4 14.1 JULY 5p 12p 311.3 311.6 8.3 8.4 e e 372.2 370.9 293.8 294.6 110.3 110.5 404.0 405.2 2418.4 2435.2 638.6 638.9 52.8 58.2 14.3 11.9 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 small 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 broker/dealer). 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). Digitized efor FRASER estimated p preliminary Page 8 H.6 (508) Table 5 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Small-denomination time deposits2 Savings deposits1 Date 3. 4. p Institutiononly money market funds At commercial banks 686.5 698.7 At thrift institutions Total At commercial banks At thrift institutions 390.2 400.4 1076.7 1099.0 579.4 570.6 443.5 432.3 1022.9 1002.9 368.8 367.7 APR. MAY JUNE 708.0 710.0 716.1 406.0 410.7 414.3 1113.9 1120.6 1130.5 566.7 557.7 551.0 417.3 407.9 401.4 984.0 965.6 952.4 JULY AUG. SEP. 721.9 728.2 735.4 416.3 418.5 420.6 1138.2 1146.7 1156.0 544.7 535.8 528.1 397.0 391.4 385.7 OCT. NOV. DEC. 744.4 751.9 752.3 423.4 427.5 427.8 1167.9 1179.4 1180.0 521.1 512.5 507.7 1993-JAN. FEB. MAR. 749.5 753.1 757.5 427.6 425.1 426.8 1177.1 1178.3 1184.4 APR. MAY JUNE p 760.8 765.8 772.4 428.3 429.6 432.0 Week e n d i n g 1993-MAY 1 7 24 31 768.7 764.4 765.7 1992-FEB. MAR. 1. 2. General purpose and broker/dealer money market funds Large-denomination time deposits3 AT commercial banks4 At thrift institutions Total 200.1 194.9 333.0 330.9 79.7 77.6 412.7 408.6 361.1 352.9 349.9 194.9 202.3 202.4 325.7 324.8 319.3 75.3 73.4 72.0 400.9 398.2 391.3 941.6 927.2 913.8 345.8 346.2 341.4 209.0 220.6 216.6 310.6 309.1 303.9 71.4 70.6 70.3 382.1 379.7 374.2 377.4 370.3 363.8 898.6 882.9 871.4 343.4 341.9 340.0 206.3 209.5 202.4 296.0 292.7 289.1 70.0 68.5 67.1 366.0 361.2 356.2 504.4 504.6 502.1 359.6 351.6 347.0 864.0 856.2 849.1 339.2 339.8 342.2 202.3 210.3 203.6 281.7 280.3 276.8 66.6 65.4 64.7 348.3 345.7 341.5 1189.1 1195.4 1204.4 497.8 492.4 488.6 343.9 341.6 338.0 841.8 834.0 826.6 337.9 334.8 333.0 199.5 203.0 194.3 280.0 283.3 279.8 65.0 64.8 64.2 345.0 348.0 344.0 430.2 429.2 429.9 1198.9 1193.6 1195.6 492.6 491.6 490.7 341.7 341.0 340.8 834.2 832.6 831.5 332.6 336.8 336.1 202.8 207.3 196.4 282.7 281.3 284.5 64.9 64.5 64.5 347.6 345.8 349.1 Total JUNE 7 14 21 28 775.6 778.4 770.0 765.9 432.8 433.4 431.4 430.2 1208.4 1211.8 1201.5 1196.1 489.8 489.0 488.5 487.5 340.0 338.7 337.2 336.7 829.8 827.7 825.7 824.2 335.2 336.1 333.3 329.8 195.2 196.4 195.7 192.5 283.0 282.7 279.0 275.8 64.5 64.2 64.0 64.2 347.5 346.9 342.9 340.0 JULY 5p 12p 770.8 776.5 432.4 433.8 1203.2 1210.3 487.9 487.0 336.0 335.5 823.9 822.5 324.2 332.4 184.8 190.1 274.6 274.6 64.1 63.8 338.6 338.5 Savings deposits include money market deposit accounts. 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, U.S. government, and foreign banks and official institutions. preliminary Page 9 H.6(508) Table 5 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Term RPs1 Debt components6 Non-M3 Components of L At commercial banks At thrift institutions Total Term Eurodollars2 1992-FEB. MAR. 50.3 52.5 22.3 21.8 72.6 74.3 56.1 58.0 APR. MAY JUNE 53.3 55.6 55.3 20.8 20.8 21.1 74.1 76.4 76.4 JULY AUO. SEP. 53.6 55.6 57.8 21.5 20.2 19.8 OCT. NOV. DEC. 59.4 61.0 60.4 1993-JAN. FEB. MAR. APR. MAY JUNE Short-term Treasury securities3 Bankers acceptances 4 140.1 141.4 319.9 327.1 22.7 21.8 330.4 338.0 2799.1 2834.7 8469.1 8483.3 54.9 52.8 51.9 142.7 143.9 144.9 321.0 320.0 321.4 21.3 21.6 21.7 345.0 335.4 348.8 2863.5 2884.1 2912.2 8504.0 8524.0 8545.7 75.1 75.8 77.6 51.1 51.4 49.4 146.0 147.4 149.2 315.9 319.2 322.6 21.6 20.9 20.2 349.3 349.9 363.2 2937.5 2970.3 2993.9 8570.3 8595.3 8621.4 20.3 20.5 20.3 79.7 81.5 80.7 48.1 47.2 45.6 151.8 154.4 156.4 322.9 334.3 345.5 20.4 20.8 21.4 364.7 370.4 366.3 2998.1 3028.3 3069.8 8649.9 8677.1 8701.5 58.5 59.7 63.1 21.4 22.5 22.8 79.9 82.2 85.8 43.6 47.0 50.4 158.6 161.0 162.9 343.4 340.2 339.8 21.5 20.3 18.9 367.7 359.1 361.7 3076.2 3087.3 3121.4 8720.3 8727.9 8742.1 23.5 24.2 23.9 88.4 88.0 89.7 50.2 51.7 50.2 164.2 165.2 P 64.8 63.8 65.8 17 24 31 63.2 63.7 64.6 24.2 24.1 23.9 87.4 87.8 88.6 53.0 52.3 51.2 JUNE 7 14 21 28 65.5 65.5 65.2 66.4 24.0 23.8 23.7 24.0 89.5 89.3 88.9 90.4 51.1 51.1 49.6 49.9 JULY 5p 12p 67.4 68.3 24.4 24.6 91.8 92.9 46.5 45.7 Date 1993-MAY Savings bonds p 331.3 335.0 p 18.6 19.0 p Commercial paper5 369.9 366.7 p Federal debt 3142.9 3161.1 p Non-Federal debt 8776.2 8813.2 p 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 Page 10 H.6 (508) Table 6 MEMORANDUM ITEMS Billions of dollars, not seasonally adjusted Demand deposits at banks due to IRA and Keogh Accounts Time and savings deposits at commercial banks At commercial banks 31.5 25.7 2.0 2.2 148.4 147.8 131.3 130.8 44.6 43.8 324.3 322.4 11.9 16.8 19.9 22.6 26.2 31.8 2.5 2.6 2.6 148.4 148.6 147.9 130.2 129.5 129.0 43.9 43.8 43.1 322.4 321.9 320.1 5.9 5.7 10.6 15.9 18.5 23.2 25.5 28.0 39.2 2.5 2.5 2.5 147.6 147.5 147.6 127.7 125.8 125.0 43.1 43.2 43.0 318.4 316.4 315.5 4.2 4.1 5.2 5.8 5.5 6.0 17.7 12.4 14.3 27.7 21.9 25.5 2.5 2.7 2.6 147.6 147.2 147.2 124.1 123.1 122.0 44.6 46.2 45.4 316.3 316.5 314.6 7.7 7.7 7.7 6.1 4.3 4.2 7.7 5.9 5.4 27.0 25.2 13.2 40.8 35.4 22.8 2.0 2.5 2.3 147.2 146.9 146.8 121.0 e 120.4 e 119.6 e 45.0 e 45.2 e 45.2 e 313.2 e 312.5 e 311.6 e 1.7 1.6 1.5 7.7 7.7 7.7 5.8 4.2 5.5 6.2 5.8 8.1 14.5 16.1 21.1 26.5 26.1 34.7 1.4 2.5 2.9 146.1 145.1 144.7 119.0 e 117.9 e 117.0 e 45.2 e 45.0 e 44.9 e 310.3 e 308.0 e 306.6 e 8.2 8.2 6.6 1.5 1.6 1.5 7.7 7.7 7.7 4.4 3.3 4.0 5.4 6.5 5.7 12.1 16.3 14.4 21.9 26.1 24.1 2.6 2.6 2.7 Note balances at depository institutions Foreign official institutions 1992-FEB. MAR. 7.8 7.8 1.5 1.4 7.4 6.9 4.3 4.2 6.2 5.6 20.9 15.9 APR. MAY JUNE H Balance at Federal Reserve Foreign commercial banks 00 00 00 e p U.S. government deposits CM O Date Time and savings deposits due Demand to foreign deposits at banks and commercial official banks institutions 1.4 1.4 1.5 6.8 7.3 7.8 5.8 4.2 5.2 4.9 5.2 6.7 JULY AUG. SEP. 8.6 7.9 8.5 1.6 1.4 1.7 8.0 7.9 7.8 3.7 3.9 5.4 OCT. NOV. DEC. 8.5 8.3 8.9 1.6 1.6 1.6 7.7 7.7 7.7 1993-JAN. FEB. MAR. 8.7 8.8 8.6 1.4 1.5 1.6 APR. MAY JUNE p 8.0 8.4 8.2 Week endina 1 9 9 3 -MAY 1 7 24 31 Total cash balance JUNE 7 14 21 28 9.0 7.7 8.2 8.0 1.8 1.4 1.5 1.4 7.7 7.7 7.7 7.7 4.5 4.3 9.8 3.6 5.0 4.6 7.7 13.9 11.6 5.2 29.0 36.3 21.2 14.1 46.4 53.9 3.0 3.0 3.1 3.1 JULY 5p 12p 8.4 9.2 1.6 1.9 7.7 7.7 5.0 4.0 11.6 6.4 29.1 20.2 45.8 30.6 0.9 2.8 estimated preliminary At thrift institutions At money market funds Total H.6 (508) Special Supplementary Table Monthly Survey of Selected Deposits x May 26,1993 and June 30,1993 (not seasonally adjusted) Insured Commercial Banks Amount Outstanding ($mil.) Liability Categories May 26 June 30 NOW Accounts 284,404 288,425 Savings Deposits Personal 754,043 591,694 Nonpersonal 162,348 755,131 592,890 162,241 2 Interest-bearing time deposits with balances of less than $100,000 with original maturities of: 7 to 91 days 92 to 182 days 183 days to 1 year 1 to 2-V2 year 2-V2 years and over All IRA/Keogh Plan deposits3 Change (percent) Average Rate Paid (%) June 30 L41 Il2 2X>9 -3 0.14 0.20 2.65 N.A. 2.61 N.A. N.A. -0.07 N.A. N.A. N.A. -4.92 2.70 2.68 -3.43 2.98 2.98 3.18 3.64 3.18 -2 -0 0 1 -3 N.A. 119,365 31,778 115,267 156,938 144,944 155,398 -0.98 144,752 180,077 178,738 -0.13 -0.74 4.47 3.64 4.44 144,736 144,636 -0.07 N.A. N.A. 33,423 Change (b.p.) May 26 -4 BIF-insured Savings Banks 4 Amount Outstanding ($mil.) Liability Categories NOW Accounts 2 Savings Deposits Personal Nonpersonal Interest-bearing time deposits with balances of less than $100,000 with original maturies of: 7 to 91 days 92 to 182 days 183 days to 1 year 1 to 2-V2 year 2-V2 years and over 3 All IRA/Keogh Plan deposits Change (percent) Average Rate Paid (%) May 26 June 30 Change (b.p.) May 26 June 30 10,037 10,402 3M 121 2~J4 -7 77,489 74,505 2,984 77,544 74,623 2,921 0.07 0.16 2.93 N.A. 2.88 N.A. -5 N.A. -2.13 N.A. N.A. N.A. 3,113 14,157 18,549 3,022 13,818 18,434 -2.93 -2.39 -0.62 2.87 3.19 3.45 2.85 3.17 3.43 16,275 16,088 -1.15 3.79 18,780 19,025 1.30 4.78 3.80 4.74 -2 -2 -2 2 -4 19,902 19,845 -0.29 N.A. N.A. N.A. N.A. ~ data are not available NOTE: Data for earlier month may show revisions. 1. Estimates are based on data collected by the Federal Reserve System from a stratified random sample of about 460 commercial banks and 80 savings banks. All rates are expressed as annual effective yields. 2. Includes personal and nonpersonal money market deposit accounts. 3. Total IRA and Keogh Plan deposits regardless of size, type of instrument in which held, or interest rate paid. 4. BIF-insured savings banks include both mutual and federal savings banks.