Full text of H.6 Money Stock Measures : July 25, 1996

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE statistical release
H.6(508)
Table 1

'•9«ALK&y
6

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

Forreleaseat 430p.m. EastemTme

Billions of dollars

Date

JULY 25,1996

M11

M22

M33

DEBT5

Seasonally adjusted
1994-JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1151.4
1150.0
1150.4
1148.9
1148.7
1148.7

3508.0
3504.1
3503.8
3503.9
3506.8
3509.4

4277.8
4276.5
4285.0
4293.8
4304.7
4319.7

5230.4
5240.3
5243.0
5261.9
5281.4
5303.7

12871.7
12934.3
12994.3
13044.9
13119.2
13159.3

1995-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1149.2
1147.8
1148.7
1151.2
1146.2
1144.5
1145.4
1143.8
1140.2
1131.8
1129.0
1124.9

3514.2
3514.1
3519.1
3529.2
3543.5
3574.0
3592.7
3612.6
3625.6
3633.1
3645.2
3662.6

4342.4
4352.5
4369.8
4391.8
4420.0
4458.4
4486.3
4513.7
4534.0
4549.4
4561.4
4576.0

5330.0
5361.4
5396.2
5429.0
5456.1
5495.2
5544.4
5580.3
5626.5
5653.5
5660.1
5685.5

13208.2
13291.3
13357.7
13432.3
13532.7
13595.9
13634.3
13689.4
13734.3
13786.5
13857.3
13894.8

1996-JAN.
FEB.
MAR.
APR.
MAY
JUNE

1119.2
1117.3
1126.6
1123.7
1117.6
1117.2

3677.4
3693.9
3729.9
3736.2
3731.2
3748.7

4604.5
4643.1
4686.2
4693.7
4705.8
4724.4

5704.4
5725.3
5785.2
5807.3
5803.1 p

13933.8
14010.9
14080.9
14134.3
14178.2 p

Not seasonally adjusted
1994-JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1150.6
1143.9
1146.5
1147.8
1155.9
1174.2

3511.6
3502.9
3498.8
3500.5
3513.5
3529.8

4276.6
4277.2
4278.4
4292.9
4317.6
4341.5

5225.1
5237.5
5229.1
5253.5
5296.0
5333.2

12815.5
12875.1
12947.5
13005.3
13089.8
13150.2

1995-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1159.0
1134.7
1138.8
1159.8
1133.5
1140.6
1145.2
1138.5
1137.3
1131.0
1136.5
1150.7

3517.2
3495.9
3512.7
3543.6
3530.0
3572.4
3598.2
3613.8
3622.0
3629.1
3650.8
3682.3

4346.9
4334.5
4361.6
4399.2
4406.0
4456.4
4486.9
4517.1
4528.7
4549.4
4574.3
4597.1

5342.7
5350.5
5397.7
5436.5
5437.7
5487.5
5540.6
5580.8
5611.6
5643.0
5673.5
5715.0

13182.1
13235.8
13306.4
13360.6
13433.9
13518.6
13564.2
13612.0
13 676.8
13738.9
13814.7
13878.0

1996-JAN.
FEB.
MAR.
APR.
MAY
JUNE

1128.1
1103.6
1115.9
1130.1
1104.4
1113.3

3679.1
3674.4
3722.7
3749.1
3716.6
3747,0

4609.1
4624.2
4676.1
4698.5
4690.6
4721.6

5717.7
5714.4
5786.0
5812.9
5783.9 p

13907.3
13956.0
14032.7
14061.0
14070.0 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 annua? rates
M1

M2

M3

DEBT1

3 Months from MAR. 1996 TO JUNE 1996

-3.3

2.0

3.3

4.8

6 Months from DEC. 1995 TO JUNE 1996

-1.4

4.7

6.5

4.6

12 Months from JUNE 1995 to JUITE 1996

-2.4

4.9

6.0

4.8

Thirteen weeks ending JULY 15, 1996
from thirteen weeks ending:
APR. 15, 1996 (13 weeks previous)

-2.2

3.1

4.7

JAN. 15, 1996 (26 weeks previous)

-1.9

4.6

6.2

JULY 17, 1995 (52 weeks previous)

-2.6

5.0

6.2

1.

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, February 1996 to May 1996, November 1995 to May 1996,
and May 1995 to May 1996, 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 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 retail money market mutual funds (money funds with minimum initial investments of less than $50,000). Excludes individual retirement account (IRA) and Keogh balances at depository institutions and money market funds. Seasonally adjusted M2 is computed by summing savings deposits, smalldenomination time deposits, and retail money fund balances, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.
Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more), balances in institutional money funds (money funds with minimum initial investments of $50,000 or more), RP liabilities (overnight and term) issued by all depository institutions, and Eurodollars (overnight and term) held by U.S. residents at foreign
branches of U.S. banks worldwide and at all banking offices in the United Kingdom and Canada. Excludes amounts held by depository institutions, the U.S. government,
money funds, and foreign banks and official institutions. Seasonally adjusted M3 is calculated by summing large time deposits, institutional money fund balances, RP
liabilities, and Eurodollars, each seasonally adjusted separately, and 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 — the 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.
Note: Updated current and historical data for aggregate and component series in the H.6 statistical release are available each week on the Economic Bulletin Board of the
U.S. Commerce Department. Monthly data are available back to January 1959, and weekly data are available back to January 1975 for most series. For information on
how to access the Commerce bulletin board, call (202) 482-1986 or toll-free (800) STAT-USA (800-782-8872).




Page 3
H.6(508)
Table 3

MONEY STOCK MEASURES
Billions of dollars

Seasonally adjusted
M1
Period encding
1996-APR. 22
29

M2

M3

13-week
average
1122.8
1122.7

4-week
average
1125.9
1122.2

week
average
1125.2
1113.1

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

3715.9
3719.1

3739.4
3735.3

3736.7
3715.5

4665.9
4672.6

4692.7
4692.2

4693.6
4682.2

MAY

6
13
20
27

1123.0
1123.1
1123.4
1123.0

1121.6
1119.3
1117.6
1117.7

1122.9
1115.8
1118.4
1113.6

3723.1
3726.7
3729.5
3731.5

3732.8
3729.4
3728.0
3731.1

3732.5
3732.8
3731.0
3728.1

4679.8
4685.3
4689.8
4693.1

4694.8
4697.6
4699.9
4704.9

4706.4
4708.0
4702.8
4702.5

JUNE

3
10
17
24

1122.5
1121.7
1120.9
1120.0

1117.8
1117.3
1117.8
1118.3

1123.3
1114.0
1120.2
1115.6

3732.9
3734.6
3736.1
3737.4

3733.5
3737.1
3743.2
3747.3

3742.1
3747.2
3755.2
3744.5

4696.4
4699.8
4702.8
4705.4

4708.9
4713.6
4721.0
4724.6

4722.3
4726.9
4732.1
4717.0

JULY

1
8p
15p

1119.3
1117.8
1116.1

1117.1
1115.1
1110.7

1118.5
1106.0
1102.6

3738.8
3739.8
3739.8

3749.3
3751.1
3749.2

3750.3
3754.5
3747.6

4708.4
4711.5
4714.2

4724.5
4727.1
4726.8

4722.0
4737.2
4731.0

Not seasonally adjusted
1996-APR. 22
29

1115.9
1116.5

1135.4
1129.5

1131.1
1099.0

3709.9
3714.4

3759.2
3749.6

3745.1
3693.7

4658.0
4664.7

4704.8
4698.6

4693.3
4653.6

MAY

6
13
20
27

1117.0
1117.2
1117.4
1116.8

1124.0
1114.3
1107.5
1104.2

1119.9
1107.2
1104.0
1085.7

3718.9
3722.8
3725.9
3728.0

3736.7
3722.2
3714.7
3715.8

3725.5
3724.5
3715.2
3697.8

4671.8
4677.1
4682.0
4685.8

4690.8
4683.7
4682.2
4688.4

4691.7
4696.0
4687.3
4678.4

JUNE

3
10
17
24

1116.6
1116.9
1117.0
1116.3

1103.7
1107.3
1111.3
1113.7

1117.9
1121.7
1119.9
1095.3

3730.0
3733.2
3735.7
3736.8

3718.9
3728.8
3740.2
3746.2

3737.9
3764.1
3761.1
3721.7

4690.1
4695.3
4699.6
4701.7

4695.4
4707.6
4720.8
4724.1

4719.7
4744.9
4740.2
4691.4

JULY

1
8p
15p

1115.7
1114.4
1111.8

1112.8
1113.7
1111.9

1114.1
1125.6
1112.5

3737.5
3737.7
3736.7

3747.0
3751.1
3753.2

3741.0
3780.7
3769.3

4703.8
4705.9
4707.6

4720.3
4721.8
4723.5

4704.8
4750.9
4746.8

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
Other checkable deposits
urrency1

Date

1.
2.
3.
4.
5.
6.
7.

Travelers checks 2

Demand deposits 3

Nontransactions components

At commercial
banks4

At thrift
institutions5

Total

lnM2 6

In M3 only7

1995 -FEB.
MAR.

359.0
362.3

8.5
8.7

383.5
382.9

292.0
290.4

104.8
104.3

396.8
394.8

2366.3
2370.4

838.4
850.8

APR.
MAY
JUNE

355.0
367.6
367.0

9.0
9.1
9.0

382.1
382.1
386.5

290.9
283.5
277.0

104.2
103.9
105.0

395.1
387.4
382.0

2378.0
2397.3
2429.5

862.6
876.6
884.4

JULY
AUG.
SEP.

367.3
368.5
369.5

8.9
8.9
8.8

388.5
389.3
389.4

276.2
272.0
266.4

104.6
105.1
106.0

380.8
377.2
372.4

2447.3
2468.8
2485.5

893.5
901.2
908.4

OCT.
NOV.
DEC.

370.8
371.6
373.2

8.8
8.9
8.9

388.1
388.2
389.8

258.1
254.1
245.6

105.9
106.3
107.4

364.1
360.4
353.0

2501.3
2516.2
2537.7

916.3
916.2
913.4

1996 -JAN.
FEB.
MAR.

373.6
373.3
375.2

8.9
8.9
8.9

393.5
397.4
407.1

236.5
230.4
226.0

106.6
107.4
109.4

343.2
337.8
335.4

2558.2
2576.6
2603.3

927.1
949.2
956.3

APR.
MAY
JUNE

376.0
377.1
379.4

8.9
8.7
8.6

406.3
409.6
413.6

225.4
214.7
207.9

107.2
107.5
107.7

332.6
322.1
315.6

2612.4
2613.6
2631.5

957.5
974.6
975.7

Week endina
1 9 9 6 -MAY
20
27

377.3
378.2

8.7
8.7

411.5
409.0

214.8
210.6

106.0
107.1

320.9
317.7

2612.6
2614.5

971.8
974.4

JUNE

3
10
17
24

377.7
378.5
379.1
380.4

8.7
8.7
8.6
8.6

417.1
412.3
416.9
410.2

210.5
206.9
207.9
209.5

109.4
107.7
107.6
106.8

319.9
314.6
315.6
316.3

2618.8
2633.2
2635.1
2628.9

980.2
979.7
976.9
972.5

JULY

1
8p
15p

380.4
382.2
381.5

8.6
8.6
8.6

413.9
408.2
406.5

207.5
200.3
201.0

108.1
106.7
105.0

315.6
307.0
306.0

2631.8
2648.5
2645.0

971.8
982.7
983.4

e
e

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 savings deposits (including money market deposit accounts), small time deposits, and retail money fund balances, each seasonally adjusted separately.
Sum of large time deposits, institutional money fund balances, RP liabilities (overnight and term) issued by depository institutions, and Eurodollars (overnight and term) of
U.S. addressees, each seasonally adjusted separately.

estimated
e


p

preliminary

Page5
H.6(508)
Table 4 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Savings deposits 1
Date

p

Institutional

Total

money
funds3

money
funds4

857.5
877.7

390.8
390.2

Large-denomination time deposits 5

188.4
195.0

At
commercial
banks 6
303.9
308.4

At
thrift
institutions
67.9
69.2

393.3
401.6
418.8

199.4
203.7
213.2

309.9
314.1
316.7

71.1
70.4
70.9

381.0
384.5
387.6

919.3
923.6
926.8

431.7
443.6
450.3

218.6
218.5
221.7

321.2
323.3
326.8

72c7
73.3
73.7

393.9
396.6
400.5

356.8
358.7
359.6

930.2
935.5
938.1

455.0
460.1
465.1

223.7
224.8
227.2

335.4
340.7
342.4

74.4
74.7
75.0

409.8
415.5
417.5

580.9
580.3
578.1

357.0
357.0
354.5

937.8
937.4
932.6

468.6
474.7
487.6

230.6
243.9
248.3

340.6
346.3
354.2

76.0
76.1
75.5

416.6
422.4
429.7

1193.3
1197.8
1207.3

576.4
575.3
575.8

354.0
353.2
352.3

930.4
928.5
928.1

488.7
487.4
496.0

245.6
243.5
249.4

356.5
362.4
367.4

75.6
75.0
75.4

432.1
437.4
442.8

367.8
368.2

1197.7
1201.7

575,.2
575,.4

353 .2
353 .2

928.4
928.6

486.6
484.3

240.5
243.8

362,
364,

74,
74,

437.8
439.6

At
thrift
institutions

Total

At
commercial
banks

383.2
377.3

1118.0
1102.5

526.9
538.7

At
thrift
institutions
330.6
339.0

APR.
MAY
JUNE

718.8
719.8
729.3

372.4
369.7
367.7

1091.2
1089.5
1097.0

546.9
554.3
561.1

346.5
351.8
352.6

893.4
906.1
913.7

JULY
AUG.
SEP.

731.3
739.1
746.3

365.0
362.4
362.1

1096.2
1101.6
1108.4

566.5
569.8
571.7

352.9
353.8
355.1

OCT.
NOV.
DEC.

753.9
760.3
775.0

362.2
360.3
359.5

1116.1
1120.6
1134.6

573.4
576.8
578.5

1996 -JAN,
FEB.
MAR.

793.2
804.1
821.0

358.6
360.4
362.1

1151.8
1164.5
1183.0

APR.
MAY
JUNE

827.0
829.9
838.4

366.4
367.9
368.8

829.9
833.5

Week endincr
1 9 9 6 -MAY 2 0
27

3.
4.
5.
6.

Retail

At
commercial
banks
734.8
725.2

1995 -FEB.
MAR.

1.
2.

Small-denomination time deposits 2

Total
371.8
377.6

JUNE

3
10
17
24

831.4
841.6
839.8
834.2

367.6
368.7
369.0
369.3

1199.0
1210.3
1208.8
1203.4

575,.4
575,.5
575,.6
575,.8

352 .8
352,.6
352,.5
352 .4

928.2
928.0
928.1
928.2

491.5
494.9
498.2
497.3

248.4
249,0
250.5
247.3

365,
366,
366,
368,

75,
75,
75,
75,

440
441
441
443

JULY

1
8p
15p

839.0
849.2
846.7

368.5
369.5
369.0

1207.4
1218.6
1215.7

576,.9
5 7 8 ..0
578,.2

351,.3
351 .0
351,.3

928.2
929.0
929.5

496.1
500.8
499.8

252.3
253.3
254.6

369.6
371.2
374.7

76.1
76.5
76.2

445.7
447.7
450.9

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.
Balances in money funds with minimum initial investments of less than $50,000.
Balances in money funds with minimum initial investments of $50,000 or more.
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

RPs 1

Date

Non-M3 Components of L

Eurodollars2
Savings bonds

1935-FEB.

191.§

85.4

MAR.

191.1

87.2

180.5
180.7

APR.
MAY
JUNE

192.1
197.2
191.7

90.1
91.1
91.8

JULY
AUG.
SEP.

188.4
192.9
192.5

OCT.
NOV.
DEC.

Short-term
Treasyw
securities3
400.!i

Bankers
acceptances4

Commercial paper5
414.9

Debt components6
Federal debt

Non-Federal debt

411.1

13.5
13.7

420.9

3556.4

9801.3

181.2
181.7
182.4

412.0
405.3
414.5

13.4
12.0
11.0

430.6
437.0
428.9

3558.6
3576.9
3602.6

9873.7
9955.8
9993.3

92.6
93.1
93.7

183.0
183.5
183.9

434.1
437.4
457.1

12.1
12.4
12.8

429.0
433.3
438.6

3615.5
3621.4
3623.8

10018.8
10068.0
10110.5

190.0
185.3
177.6

92.9
90.6
91.2

184.2
184.5
184.8

465.9
464.5
475.6

13.4
12.6
11.9

440.5
437.1
437.1

3632.6
3645.8
3644.6

10153.9
10211.5
10250.2

1996-JAN.
FEB.
MAR.

184.4
186.2
184.1

95.6
96.6
94.2

185.0
185.0
185.2

465.9
444.7
458.9

11.7
10.2
9.8

437.2
442.3
445.1

3638.6
3661.7
3696.0

10295.3
10349.2
10384.9

APR.
MAY
JUNE

182.9
195.1
184.2

97.0
98.5
99.4

185.6
186.0 p

456.8
427.6 p

10.3
10.7 p

461.0
473.0 p

3707.0
3712.6 p

10427.3
10465.6 p

195.5
194.5

98.0
96.4

Weefr endj^q
1996-MAY 20
27
JUNE

3
10
17
24

192.9
188.1
184.5
182.8

98.6
101.4
100.2
98.7

JULY

1
8p
15p

176.7
183.9
182.4

97.1
97.9
95.4

"3535.5 """

yvi>5.i

1. Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
2. Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United Kingdom and Canada,

excluding those held by depository institutions and by money 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.
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

preliminary




Page 7
H.6(508)
Table 5

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Currency
cy1

Date

1.
2.
3.
4.
5.
6.
7.
e

Travelers
checks 2

Demand
deposits 3

Nontransactions components

Other checkable deposits
At commercial
banks4

At thrift
institutions5

Total

lnM2 6

In M3 only7

1995 -FEB.
MAR.

357.0
361.3

8.1
8.4

374.7
374.0

292.3
291.1

102.6
103.9

394.9
395.1

2361.2
2374.0

838.6
848.8

APR.
MAY
JUNE

365.5
367.9
368.2

8.8
8.9
9.2

382.1
373.1
382.8

296.6
279.8
274.8

106.8
103.8
105.5

403.4
383.6
380.3

2383.8
2396.5
2431.9

855.6
876.1
884.0

JULY
AUG.
SEP.

369.1
369.1
369.3

9.5
9.5
9.3

388.8
386.8
388.5

272.7
268.7
264.7

105.1
104.4
105.6

377.8
373.1
370.3

2453.1
2475.3
2484.7

888.7
903.3
906.7

OCT.
NOV.
DEC.

370.0
371.7
376.1

8.9
8.7
8.5

391.1
395.8
407.9

255.6
253.9
249.7

105.4
106.4
108.4

361.0
360.3
358.1

2498.1
2514.3
2531.5

920.2
923.5
914.8

1996 -JAN.
FEB.
MAR.

371.7
370.8
374.3

8.5
8.5
8.6

399.0
388.3
397.5

242.3
230.5
226.4

106.6
105.5
109.2

348.9
336.0
335.6

2551.0
2570.8
2606.8

930.0
949.8
953.4

APR.
MAY
JUNE

375.8
377.5
380.5

8.6
8.6
8.9

406.1
399.5
409.8

229.8
211.7
206.2

109.7
107.1
108.0

339.6
318.7
314.2

2619.0
2612.3
2633.7

949.4
974.0
974.6

Week e n d i n a
1 9 9 6 -MAY 2 0
27

377.4
378.3

8.6
8.7

401.4
390.1

210.5
204.4

106.0
104.4

316.5
308.7

2611.3
2612.0

972.0
980.7

JUNE

3
10
17
24

378.1
381.2
380.4
380.1

8.7
8.8
8.9
9.0

412.8
412.0
414.3
397.2

209.2
208.6
207.6
204.5

109.0
111.0
108.7
104.6

318.3
319.6
316.3
309.0

2620.0
2642.4
2641.2
2626.4

981.8
980.8
979.1
969.7

JULY

1
8p
15p

380.9
386.1
383.7

9.0
9.1
9.2

414.7
418.3
413.8

202.9
202.2
199.8

106.6
109.9
106.0

309.5
312.1
305.9

2626.9
2655.1
2656.8

963.8
970.2
977.5

e
e

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 savings deposits (including money market deposit accounts), small time deposits, and retail money fund balances.
Sum of large time deposits, institutional money fund balances, RP liabilities (overnight and term) issued by depository institutions, and Eurodollars (overnight and term) of
U.S. addressees.
estimated




p

preliminary

Page 8
H.6(508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Savings deposits 1
Date

3.
4.
5.
6.

p

Institutional
money
funds4

Large-denomination time deposits 5
At
commercial
banks 6
302.4
306.9

At
thrift
institutions
67.6
68.9

370.0
375.8

197.1
202.0
208.8

307.7
316.2
317.5

70.6
70.9
71.1

378.3
387.1
388.6

430.9
444.4
446.6

215.9
218.4
218.1

319.9
324.2
327.5

72.4
73.5
73.9

392.2
397.8
401.4

929.1
930.9
931.6

450.6
458.3
465.4

221.8
227.1
229.4

337.7
343.6
342.3

74.9
75.4
75.0

412.7
419.0
417.4

355.6
356.4
355.2

934.1
935.8
934.5

470.6
478.0
492.1

238.2
249.6
248.7

337.9
344.7
352.6

75.4
75.8
75.2

413.2
420.5
427.8

578.3
577.4
577.9

355.2
354.5
353.5

933.5
931.9
931.5

493.5
485.5
492.5

242.8
241.1
244.5

353.8
364.7
368.1

75.0
75.5
75.5

428.8
440.2
443.7

1195.3
1196.4

577.3
577.4

354.5
354.4

931.8
931.8

484.2
483.8

238.9
243.2

365.1
369.1

75.4
75.6

440.5
444.7

368.0
371.1
370.8
368.8

1200.3
1218.3
1214.6
1202.0

577.4
577.6
577.5
577.5

354.1
353.9
353.6
353.5

931.6
931.5
931.2
931.0

488.2
492.6
495.5
493.4

244.3
244.9
246.3
242.0

368.0
369.0
368.6
367.9

75.8
75.7
75.5
75.3

443.8
444.7
444.1
443.2

367.5
371.7
371.0

1204.4
1225.9
1222.5

579.5
581.0
580.8

352.9
352.9
352.9

932.4
933.9
933.8

490.1
495.3
500.5

244.7
247.1
251.9

366.6
367.9
372.9

75.5
75.8
75.8

442.1
443.7
448.8

At
commercial
banks
730.3
723.9

At
thrift
institutions
380.9
376.6

APR.
MAY
JUNE

718.4
718.4
730.9

JULY
AUG.
SEP.

At
commercial
banks

At
thrift
institutions

Total

1111.2
1100.4

526.1
539.5

330.0
339.5

856.1
879.0

393.9
394.6

193.4
195.6

372.1
369.0
368.5

1090.5
1087.4
1099.4

548.4
555.9
562.9

347.4
352.8
353.7

895.9
908.8
916.5

397.5
400.3
416.0

733.3
741.5
748.0

365.9
363.6
363.0

1099.2
1105.1
1111.0

568.7
571.2
571.9

354.3
354.6
355.2

922.9
925.8
927.1

OCT.
NOV.
DEC.

755.4
763.4
775.0

362.9
361.7
359.5

1118.3
1125.1
1134.5

572.7
574.0
574.5

356.4
356.9
357.1

1996-JAN.
FEB.
MAR.

789.5
798.9
819.0

356.9
358.1
361.2

1146.3
1157.0
1180.1

578.5
579.4
579.3

APR.
MAY
JUNE

826.0
827.9
840.1

365.9
367.0
369.6

1192.0
1194.9
1209.7

Week e n d i n g
1996-MAY 2 0
27

828.2
829.9

367.1
366.6

JUNE

3
10
17
24

832.3
847.2
843.8
833.2

JULY

1
8p
15p

836.8
854.2
851.4

1995-FEB.
MAR.

1.
2.

Small-denomination time deposits 2

III

Billions of dollars, not seasonally adjusted

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.
Balances in money funds with minimum initial investments of less than $50,000.
Balances in money funds with minimum initial investments of $50,000 or more.
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 fund.s, depository institutions, U.S. government, and foreign
banks and official institutions.
preliminary




Total

Page 9
H„6(508)
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
RPs1
Date

At commercial
banks

At thrift
institutions

Debt components 6

Non-M3 Components of L
2

Eurodollars

Savings bonds

Total

Short-term
Treasury
securities3

Bankers
acceptances 4

Commercial
paper5

Federal debt

Non- Federal
debt

1995-FEB.
MAR.

146.3
146.0

42.6
43.4

188.9
189.4

86.4
88.0

180.8
181.2

405.9
420.7

13.9
13.9

415.3
420.4

3525.0
3551.1

9710.8
9755.3

APR.
MAY
JUNE

146.8
151.4
150.3

44.4
45.8
45.3

191.2
197.1
195.6

88.9
89.9
91.0

181.7
182.1
182.4

411.2
402.8
412.1

13.7
12.1
11.0

430.8
434.7
425.5

3544.1
3552.6
3579.3

9816.5
9881.3
9939.3

JULY
AUG.
SEP.

143.4
146.9
145.7

45.5
47.0
47.7

188.9
193.9
193.4

91.7
93.2
93.9

182.8
183.0
183.3

434.9
440.1
447.5

11.6
11.9
12.6

424.4
428.7
439.4

3588.8
3602.2
3606.8

9975.4
10009.8
10070.0

OCT.
NOV.
DEC.

145.2
139.1
131.1

46.7
46.0
45.0

191.9
195.1
176.1

93.9
92.3
91.9

183.8
184.3
184.8

450.4
462.2
483.0

13.2
12.5
12.1

446.2
440.1
438.1

3610.1
3635.9
3645.9

10128.8
10178.8
10232.1

1996-JAN.
FEB.
MAR.

138.5
138.6
137.3

44.6
44.8
45.0

183.1
183.5
182.3

95.4
96.3
94.6

185.1
185.4
185.7

470.0
451.4
470.0

12.2
10.6
9.9

441.3
442.7
444.3

3634.4
3655.5
3698.1

10272.9
10300.5
10334.5

APR.
MAY
JUNE

135.2
145.6
138.1

47.1
49.8
49.8

182.3
195.4
187.9

95.6
97.3
98.6

186.1
186.3

146.2
145.1

49.5
50.3

195.8
195.3

96.8
97.4

Week e n d i n g
1996-MAY
20
27
JUNE

3
10
17
24

145.5
141.4
139.2
136.9

49.9
50.0
50.4
49.6

195.4
191.4
189.5
186.5

98.3
99.7
99.2
98.0

JULY

1
8p
15p

130.7
134.6
133.5

49.0
49.2
49.3

179.7
183.8
182.7

97.2
95.5
94.1

p

456.7
425.2

p

10.5
10.7

p

461.1
471.0

p

3699.5
3692.1

p

10361.5
10378.0

4.
5.
6.

Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
Overnight and term Eurodollars issued to U.S. addressees oy foreign branches of U.S. banks worldwide and by all banking offices in the United Kingdom and Canada,
excluding those held by depository institutions and by money 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




p

Page 10
H.6(508)
Table 6

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

Foreign
commercial
banks

Foreign
official
institutions

1995 -FEB.
MAR.

8.0
8.1

1.6
1.6

APR.
MAY
JUNE

7.7
8.2
8.2

1.6
1.5
1.5

12.8
13.8
14.8

JULY
AUG.
SEP.

14,
13,
12.

OCT.
NOV.
DEC.

12.0
12.2
12.4

U.S. government deposits
Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

3.3
3.4

5.9
5.2

5.5
3.1
4.5

5.3
5.4
6.5

Note
balances at
depository
institutions

Total
cash
balance

IRA and Keogh Accounts
Time and
savings
deposits at
commercial
banks

At
commercial
banks

At
thrift
institutions

At
money
market
funds

Total

21.1
10.1

30.3
18.8

2.3
2.4

144.6
145.6

107.8
107.9

63.3
66.2

315.8
319.6

12,
18,
19,

24,
27,
32,

2.6
2.5
2.5

146.4
146.8
147.8

107.9
107.8
107.7

68.5 e
69.0 e
69.2 e

322.7 e
323.5 e
324.7 e

27.
13,
17.8

37,
21,
30,

148.9
149.1
149.4

107.8 e
107.7 e
108.3 e

69.4
69.6
69.8

326,
326.
327.

11.4
14.6

19.8
16.5
27.1

149.9
149.8
149.9

108.3 e
108.0 e
108.1 e

70.0
70.3
70c8

328.
328,
328.

8.2

1996 -JAN.
FEB.
MAR.

12,
12,
12,

15,
13,
10.8

26,
21,
20,

150,
150,
150,

107.8 e
107.5 e
107.3 e

71.3
71o8
72.3

329,
329,
329.8 e

APR.
MAY
JUNE

12,
12,
12,

11,
10.
14.

24,
18.
25,

150.
150.
150.

107.0 e
106.9 e
107.0 e

72,
72,
72,

330,
330,
330,

Week endina
1996 -MAY 20
27

e
p

Time and
savings
deposits
due to
foreign
banks and
official
institutions
13.3
12.7

JUNE

3
10
17
24

JULY

1
8p
15p

estimated
preliminary




8.4
8.0

8.9
8.8
8.4

1.6
1.4

12.4
12.4

3.0
2.5

4.9
5.1

8.4
5.9

16.
13,

12,
12,
12,
12,

5,
5,
8,
20,

12.
14.
22.
32.

12.
12.
12,

29,
10,
7,

40.3
18.7
16.4

4.5
4.5

H.6 (508)
Special Supplementary Table

Monthly Survey of Selected Deposits 1
May 31,1996 and June 30,1996
(not seasonally adjusted)
Insured Commercial Banks
Amount Outstanding ($mil.)
Change
(percent)

Average Rate Paid (%)
Change
(b.p.)

May 31

June 30

^84

L88

L90

2

844,223
673,452

0.57
0.50

2.89
N.A.

2.85
N.A.

-4
N.A.

169,333

170,771

0.85

N.A.

N.A.

N.A.

33,414

30,636

-8.31

3.99

4.05

92 to 182 days
183 days to 1 year

96,264
193,021

93,809
195,384

-2.55
1.22

4.51
4.89

4.55
4.94

6
4

1 to 2-V2 year
2-V2 years and over

207,826
196,542

210,216

1.15

5.11

199,405

1.46

5.36

5.18
5.46

10

150,084

150,537

0.30

N.A.

N.A.

N.A.

Liability Categories

May 31

June 30

NOW Accounts

208,881

202,948

Savings Deposits
Personal

839,457
670,124

Nonpersonal

2

Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:
7 to 91 days

3

All IRA/Keogh Plan deposits

5
7

BIF-insured Savings; Banks 4
Amount Outstanding ($mil.)
May 31

June 30

11,744

11,234

Savings Deposits
Personal
Nonpersonal

67,715
64,199
3,516

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

Liability Categories
NOW Accounts
2

1 to 2-V2 year
2-V2 years and over
3

All IRA/Keogh Plan deposits

Change
(percent)

Average Rate Paid (%)
Change
(b.p.)

May 31

June 30

A35

L82

rio

-2

66,886
63,554

-1.23
-1.00
-5.25

2.85
N.A.
N.A.

1
N.A.

3,331

2.84
N.A.
N.A.

N.A.

2,345
13,934
28,079

2,226
13,702
27,907

-5.04

4.49

4.54

5

-1.67
-0.61

4.83
4.96

4.91
5.02

8
6

25,422

25,492

0.27

5.25

5.35

10

22,638

22,568

-0.31

5.38

5.51

13

20,543

20,709

0.80

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 425 commercial
banks and 75 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.




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Federal Reserve System
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