Full text of H.6 Money Stock Measures : July 26, 1990
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*O^GO^*- FEDERAL RESERVE statistical release . 1 pro in.. •f«^ H.6 ( 5 0 8 ) Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASU^iS JULY 26, 1990 Billions of dollars Date Ml 1 M2^ M3 J DEBT Seasonally adjusted 1988-JULY AUG. SEP. OCT. NOV. DEC. 783.4 784.4 784.8 785.1 786.0 787.5 3033.2 3037.7 3041.1 3048.8 3064.1 3072.4 3847.1 3858.1 3867.2 3883.8 3903.5 3918.4 4567.8 4584.8 4592.9 4613.7 4644.1 4676.0 8741.2 8805.9 8868.3 8927.9 9000.8 9062.0 1989-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. OCT. NOV. DEC. 785.8 786.7 785.5 782. 1 776.2 773.7 779.1 780.4 782.9 788.1 789.4 794.8 3073.6 3078.2 3086.9 3089.4 3085.3 3101.6 3127.0 3146.7 3163.3 3181.4 3200.6 3221.0 3926.1 3936.9 3956.6 3965.1 3965.6 3984.9 4007.2 4012.2 4012.3 4016.5 4029.0 4042.0 4683.5 4702.2 4736.1 4762.1 4761.9 4784.4 4810.1 4824.5 4830.7 4840.2 4856.4 4879.2 9115.9 9179.7 9238.3 9295.4 9358.2 9414.9 9465.6 9529.1 9585.2 9654.8 9732.4 9777.6 1990-JAN. FEB. MAR. APR. MAY JUNE 794.8 801.4 804.8 807.4 805.5 809. b 3229.3 3252.4 3266.2 3271.8 3264.6 3269.9 4044.6 4058.6 4061.5 4065.1 4055.7 4055.0 4880.7 4890.2 4908.3 4917.9 4889.3 p SEP. 9825.9 9889.9 9953.0 10005.3 10057.4 p Not seasonally adjusted 1988-JULY AUG. SEP. OCT. NOV. DEC. 786.9 782.4 781.1 782.2 788.3 804.5 3039.1 3037.3 3034.3 3046.7 3067.2 3085.2 3845.8 3857.5 3864.5 3884.1 3912.4 3932.5 4558.3 4579.8 4588.6 4613.5 4652.2 4692.7 8698.8 8759.9 8830.5 8894.4 8969.0 9047.3 1989-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 793.5 773.0 775.9 791.6 767.7 774.4 782.3 778.1 779.1 785.0 791.7 812.1 3085.6 3065.8 3080.7 3100.2 3071.2 3099.1 3132.7 3146.4 3156.3 3178.9 3204.3 3233.9 3935..5 3925..7 3954..4 3971..1 3950..7 3978..5 4005..4 4011..9 4009.4 4016.5 4038.7 4056.0 4701.3 4696.9 4733.8 4764.9 4750.1 4777.1 4798.9 4819.1 4826.2 4840.3 4865.4 4896.9 9099.9 9143.7 9197.5 9253.9 9315.7 9375.8 9424.9 9486.1 9550.6 9623.6 9700.6 9762.2 1990-JAN. FEB. MAR. APR. MAY JUNE 802.3 788.0 795.7 817.3 796.6 810.2 3241.0 3240.4 3261.0 3283.1 3249.6 3267.1 4053.7 4047.2 4060.2 4071.8 4040.1 4048.7 4899.7 4885.4 4906.2 4921.3 4876.9 p Footnotes appear on the following page, p—indicates preliminary data. 9815.0 9859.7 9914.3 9966.3 10015.6 p H.6 (508) Table 2 MONEY STOCK AND DEBT MEASURES Percent change at seasonally adjusted annual rates 3 Months from MAR. 1990 TO JUNE 1990 Ml M2 M3 Debt1 2.4 0.5 -0.6 6.8 6.7 7.5 6 Months from DEC. 1989 TO JUNE 1990 3.7 3.0 0.6 12 Months from JUNE 1989 to JUNE 1990 4.6 5.4 1.8 Thirteen weeks ending JULY 16, 1990 from thirteen weeks ending: APR. 16, 1990 (13 weeks previous) 2.5 1.4 -0.3 JAN. 15, 1990 (26 weeks previous) 4.0 3.7 1.1 JULY 17, 1989 (52 weeks previous) 3.9 5.5 1.9 1. Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, February 1990 to May 1990, November 1989 to May 1990, and May 1989 to May 1990, 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 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—incuding 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 foreign banks and official institutions. Also subtracted is the estimated amount ot overnight RPs and Eurodollars held by institution-only money market mutual funds. Seasonally adjusted M3 is obtained by adjusting its non-M2 component as a whole and then adding this result to seasonally adjusted M2. Consists of M3 plus the nonbank public holdings of U.S. savings bonds, short-term Treasury securities, commercial paper and bankers acceptances, net of money market mutual fund holdings of these assets. Debt of domestic nonfinancial sectors consists of outstanding credit market debt of the U.S. government, state and local governments and private nonfinancial sectors. Private debt consists of corporate bonds, mortgages, consumer credit (including bank loans), other bank loans, commercial paper, bankers acceptances and other debt instruments. The data are derived from the Federal Reserve Board's flow of funds accounts. All data on debt of domestic nonf inancial sectors are presented in month-average form? derived by averaging adjacent month-end levels. These data have also been adjusted to remove statistical discontinuities that may arise in the underlying flow of funds statistics. The presentation of debt data in this release differs, therefore, from the quarterly flow of funds statistics contained in the Federal Reserve releases Z.7 and Z.l. In those releases, published levels of credit market debt are measured on a quarter-end basis and include discontinuities. H.6 (508) Table 3 MONEY STOCK MEASURES B i l l i o n s of d o l l a r s Seasonally adjusted M2 Ml 13-week average 4-week average week average 3273.2 3267.8 4060.4 4061.3 4065.6 4065.2 4064.1 4055.2 3271.2 3269.4 3267.5 3265.1 3270.6 3266.0 3265.7 3258.0 4062.0 4062.3 4062.3 4060.9 4064.1 4060.4 4058.7 4056.4 4063.0 4059.1 4057.4 4046,0 3267.3 3267.6 3268.0 3268.0 3262.9 3263.2 3264.3 3267.8 3262.0 3267.0 3270.3 3271.7 4060.0 4059.8 4059.2 4058.5 4053.5 4053.2 4052.5 4054.4 4051.6 4057.7 4054.8 4053.4 3268.9 3269.0 3269.0 3271.6 3273.4 3274.2 3277.5 3274.0 3273.7 4058.5 4057.7 4056.0 4055.6 4055.7 4054.9 4056.4 4058.0 4051.6 13-week average 4-week average 805.8 805.7 3260.6 3263.2 3271.4 3271.6 807.0 805.1 805.5 805.0 805.8 803.2 807.1 803.9 3265.1 3266.5 3267.6 3267.5 805.8 806.2 806.5 806.8 805.6 806.6 806.7 808.1 808.0 807.5 807.4 809.4 807.6 807.9 807.7 810.6 811.3 811.4 817.9 810.5 807.9 Period em ding 13-week average 4-week average 1990-APR. 23 30 803.5 804.5 807.8 807.1 MAY 7 14 21 28 805.0 805.3 805.8 805.7 JUNE 4 11 18 25 JULY 2 9p 16p week average M3 week average Not seasonally adjusted M2 Ml Period en<ding 13-week average 4-week average 1990-APR. 23 30 798.2 800.1 818.3 817.4 MAY 7 14 21 28 800.9 801.6 802.4 802.7 JUNE 4 11 18 25 JULY 2 9p 16p week average M3 13-week average 4-week average 3278.0 3254.7 4058.0 4059.1 4078.3 4070.8 4060.7 4037.1 3271.7 3261.5 3254.5 3249.5 3258.3 3254.8 3250.2 3234.5 4059.0 4058.7 4058.5 4057.3 4059.2 4047.7 4043.0 4040.2 4047.1 4045.9 4041.9 4025.7 3264.9 3265.8 3266.5 3266.4 3251.8 3256.6 3261.3 3265.7 3267.8 3274.0 3269.0 3251.9 4056.9 4056.7 4056.1 4054.5 4042.3 4046.1 4048.3 4049.4 4055.6 4061.2 4050.5 4030.1 3266.4 3265.8 3265.1 3267.1 3271.8 3276.1 3273.5 3292.6 3286.5 4052.9 4050.9 4048.2 4047.2 4048.8 4050.3 4047.0 4067.4 4056.7 13-week average 4-week average 817.2 798.9 3257.9 3261.0 3287.0 3282.4 812.9 805.0 799.7 796.2 804.9 798.8 796.0 785.0 3262.3 3263.5 3264.3 3264.2 803.7 805.1 806.5 807.3 798.2 802.7 806.6 809.4 812.9 817.0 811.4 796.4 808.2 808.6 807.6 809.9 812.6 814.1 814.6 827.8 817.7 week average week average Note: Special caution should be taken in interpreting week-to-week changes in money supply data, which are highly v o l a t i l e 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 Currency Date 1 Travelers checks2 Demand deposits3 At commercial banks5 At thrift institutions5 Total In M2 6 In M3 only7 Genteral purpose and broker/dealer money1 market funds 1989-FEB. MAR. 214. 215. 284.9 283.9 192.1 191.7 88.1 87.4 280.2 279.1 2291.4 2301.4 858.7 869.6 247.2 253.4 APR. MAY JUNE 215. 216. 217, 281.3 279.6 276.3 191.4 188.5 188.7 86.5 84.3 84.3 277.9 272.8 273.0 2307.3 2309.1 2327.9 875.7 880.3 883.3 257.8 261.2 268.3 JULY AUG. SEP. 217.8 218.6 219.3 279.6 278.5 278.1 189.8 191.1 192.4 84.6 85.0 86.0 274, 276, 278, 2347.9 2366.4 2380.3 880.2 865.5 849.0 277.7 287.8 295.9 OCT. NOV. DEC. 220.0 220.4 221.9 280.0 278.8 279.7 194.2 195.9 197.9 86.6 86.9 87.8 280.8 282.8 285.7 2393.4 2411.3 2426.2 835.0 828.4 821.0 302.7 309.0 312.4 1990-JAN. FEB. MAR. 224 226. 228, 277.3 280.2 279.3 198.0 199.3 201.0 87.4 87.7 88.5 285, 287, 289, 2434.5 2451.0 2461.4 815.3 806.2 795.3 318.1 324.5 325.0 APR. MAY JUNE 230, 231. 233, 277.8 274.6 274.5 202.8 203.2 205.7 89.0 88.4 88.2 291.8 291.6 294.0 2464.5 2459.1 2460.3 793.2 791.2 785.1 324.8 319.4 321.0 21 28 231.8 232.6 276. 272. 202.8 203.4 88, 88, 291, 291, 2458, 2454, 791. 787. 316. 316. JUNE 4 11 18 25 232.4 232.4 233.3 234.5 274. 273. 273. 274. 205. 205. 205. 205. 88. 88. 88. 87, 293, 293. 293. 293, 2453. 2459, 2462. 2462. 789. 790. 784. 781. 318, 318. 321. 322. JULY 2 9p 16p 234.5 234.0 234.9 278. 275. 274. 208. 205. 203. 88, 87. 87.8 296.7 292.8 291.2 2459. 2463. 2465. 778. 784. 777. 323.8 322.7 324.1 Week ending 1990-MAY 1. 2. 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. 3. Demand deposits at commercial banks andforeian-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 NOW 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. 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 Savings deposits1 Money msirket deposit accounts At At thrift commercial institutions banks Date Total At At commercial thrift banks institutions Small-denomination time deposits2 Total At At commercial thrift institutions banks Total Large-denomination time deposits3 At At commercial thrift 4 institutions banks Total 1989-FEB. MAR. 542.2 559.7 145.5 140.2 485.6 479.9 189.5 188.1 251.6 229.8 421.0 417.9 465.0 474.7 589.5 591.7 1054.2 1066.4 579.4 586.0 175.9 174.1 555.5 560.1 APR. MAY JUNE 557.0 551.7 551.0 156.2 151.5 150.0 475.2 465.1 460.9 185.8 185.1 182.5 226.2 222.5 221.1 412.0 405.4 405.4 486.5 497.5 501.8 597.8 605.7 612.2 1084.1 1105.0 1114.0 592.2 595.7 597.1 176.1 177.4 177.8 568.5 573.1 574.9 JULY AUG. SEP. 555.9 557.9 540.8 150.1 150.4 151.0 465.9 468.2 471.9 185.0 185.9 184.9 220.5 220.0 220.6 405.5 404.0 405.5 505.8 510.4 515.5 616.6 619.6 619.2 1122.4 1150.0 1152.6 598.7 597.8 597.2 176.0 172.7 168.4 574.7 570.5 565.6 OCT. NOV. DEC. 545.7 548.5 551.5 151.6 152.5 152.2 475.5 480.8 485.7 185.9 187.5 188.5 220.5 220.5 220.5 406.1 407.9 409.0 519.7 524.4 528.6 616.2 614.1 615.7 1155.9 1158.5 1142.5 598.8 401.5 401.5 165.8 159.5 156.8 562.7 561.0 558.3 1990-JAN. FEB. MAR. 552.4 556.0 559.1 152.5 155.4 155.8 485.0 489.4 494.9 189.8 191.8 195.4 220.4 221.8 221.2 410.2 415.6 414.6 551.4 554.7 557.2 611.1 606.5 606.6 1142.5 1141.2 1145.8 401.2 599.4 596.5 152.9 150.2 147.5 554.2 549.6 543.6 APR. MAY JUNE 562.5 565.4 568.5 156.6 154.7 155.1 498.9 500.2 501.4 195.8 195.5 195.0 222.0 221.6 220.9 415.8 415.1 415.9 541.4 550.8 559.4 602.7 594.4 584.0 1144.1 1145.2 1145.5 594.6 596.4 596.9 145.0 138.2 134.8 537.6 534.6 531.7 21 28 365.9 566.2 154, 155, 500.6 499.8 195.5 195.8 221.6 221.0 415.1 414.8 551.4 554.2 594, 591, 1145.9 1145.4 157.8 156.6 535 552, JUNE 4 11 18 25 566.8 567.8 569.6 568.4 155, 155, 155. 152, 500.1 501.2 502.9 501.2 194.7 194.6 194.8 195.1 220.4 220.8 221.5 221.0 415.1 415.4 416.2 416.1 556.5 557.8 559.0 560.4 588, 586, 584, 582, 1145.0 1145.7 1145.5 1142.5 595.8 595.9 596.5 598.5 598.5 596.1 156.6 155.5 134.6 134.5 552.9 533.8 533.1 530.6 JULY 2 9p 16p 568.4 570.1 571.0 152. 152, 152. 500.5 502.1 503.1 196.0 196.2 196.5 220, 220. 220. 416.9 417.0 417.2 565.5 567.1 568.1 580, 576, 575, 1145.5 1145.5 1145.8 594.2 400.1 401.1 133.0 131.8 131.0 527, 532, 532, Heek ending 1990-MAY Savings deposits exclude MMDAs. Small-denomination time deposits—including retail RPs—are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial banks and thrifts are subtracted from small time deposits. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities. Large^denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, and foreign banks and official institutions, -indicates preliminary data. H.6 (508) Table 4-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Debt components^ Non-M3 Components of L Institutiononly money market funds Date Savings bonds Short-term Treasury securities * Bankers ^ acceptances*- Commercial paper3 Federal debt Non-Federal debt 1989-FEB. MAR. APR. MAY JUNE 86.9 86.3 110.7 111.5 270.5 278.3 40.6 41.4 343.6 348.3 2137.8 2158.7 7041.9 7079.5 88.3 92.1 96.3 112.2 112.8 113.6 285.1 293.4 295.2 41.5 41.2 41.2 358.2 348.8 349.4 2168.8 2176.4 2184.2 7126.6 7181.8 7230.7 JULY AUG. SEP. 99.0 101.4 101.6 114.3 115.0 115.7 297.2 300.3 311.5 41.9 42.6 41.0 349.5 354.3 350.3 2184.1 2200.7 2220.7 7281.6 7328.4 7364.5 OCT. NOV. DEC. 101.1 101.1 102.3 116.2 116.8 117.5 317.6 318.8 330.6 40.0 40.5 41.2 350.0 351.3 347.9 2238.3 2258.9 2265.7 7416.5 7473.6 7511.9 1990-JAN. FEB. MAR. 103.2 103.7 105.4 117.7 118.2 119.1 334.3 330.3 348.0 40.7 38.3 37.0 343.3 344.7 342.7 2275.9 2297.3 2325.9 7550.0 7592.6 7627.1 APR. MAY JUNE 106.8 107.3 107.3 119.9 120.7 p 339.7 327.7 p 35.7 35.2 p 357.5 349.9 p 2340.9 2353.7 p 7664.4 7703.7 p Week ending 21 28 107.4 106.1 JUNE 4 11 18 25 106.8 107.9 107.3 107.1 JULY 2 9p 16p 107.4 108.0 107.9 1990-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. Total commercial paper less commercial paper held by money market mutual funds. Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities. -indicates preliminary data. H.6 ( 5 0 8 ) Table 5 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Other checkable deposi ts Currency1 Date Travels s Demand 3 deposits checks :£ At commercial banks5 At thrift institutions5 Nontransact ions components Total In M2 6 In M3 only7 Overnight RPs8 Overnight Eurodollars9 General purpose and broker/dealer money market funds 1989-FEB. MAR. 211.9 213.9 7.1 7.0 275.8 276.0 192.3 192.7 85.9 86.3 278.2 279.0 2292.8 2304.ft 859.9 873.7 68.2 67.7 15.1 14.3 248.4 256.8 APR. MAY JUNE 215.1 216.6 218.4 7.0 7.1 7.5 283.3 273.6 276.7 197.6 186.2 187.0 88.7 84.1 84.8 286.3 270.3 271.8 2308.5 2303.5 2324.7 870.9 079.6 879.4 64.1 63.2 65.0 14.4 14.6 14.6 260.7 260.7 266.8 JULY AUG. SEP. 219.7 219.2 218.6 8.1 8.1 7.7 281.8 277.1 276.3 187.4 188.7 190.7 85.3 85.0 85.9 272.7 273.7 276.5 2350.4 2368.3 2377.2 872.7 865.5 853.1 64.1 63.1 59.3 16.8 15.2 15.5 275.6 286.8 294.9 OCT. NOV. DEC. 218.9 221.0 225.3 7.3 7.0 6.9 280.7 281.5 291.6 191.6 194.9 200.3 86.5 87.2 88.1 278.1 282.1 288.4 2393.9 2412.6 2421.8 837.6 834.5 822.2 61.2 61.7 62.5 14.1 13.2 14.3 301.3 309.7 312.2 1990-JAN. FEB. MAR. 222.9 224.2 227.0 7.0 7.2 7.3 283.0 271.4 271.6 202.5 199.5 202.2 87.0 85.7 87.6 289.4 285.2 289.7 2438.8 2452.4 2465.3 812.6 806.8 799.2 63.8 66.5 65.9 16.9 14.8 14.8 317.0 326.1 329.5 APR. MAY JUNE 229.5 231.7 234.7 7.3 7.5 8.1 279.8 268.6 274.9 209.4 200.7 203.8 91.4 88.1 88.7 300.8 288.8 292.4 2465.7 2453.1 2456.9 788.7 790.5 781.6 62.9 64.2 62.0 15.2 16.8 15.3 328.4 318.7 318.9 21 28 231.7 232.1 7.5 7.6 269.4 261.6 199.7 198.1 87.6 85.6 287.3 283.6 2454.3 2449.5 791.6 791.3 66.4 62.7 17.2 17.3 316.4 317.1 JUNE 4 11 18 25 233.5 235.2 234.6 234.1 7.7 7.9 e 8.1 e 8.2 e 276.4 276.8 275.0 268.7 205.1 206.6 204.9 199.4 90.2 90.5 88.9 85.9 295.3 297.1 293.8 285.4 2454.9 2457.1 2457.6 2455.5 787.8 787.1 781.5 778.2 64.8 62.1 61.1 63.0 14.6 14.9 14.8 15.9 317.4 317.5 319.9 320.0 JULY 2 9p 16p 235.1 238.6 237.3 8.4 e 8.6 e 8.7 e 281.6 283.3 280.5 201.8 206.2 201.9 87.8 91.0 89.3 289.5 297.2 291.2 2458.9 2464.8 2468.9 773.6 774.7 770.1 59.3 60.8 61.6 16.6 16.3 15.7 319.5 317.9 322.0 Heek ending 1990-MAY 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 foreion-related institutions other than those due to depository institutions, the U.S. government and foreign banks and official institutions; less cash items in the process of collection and Federal Reserve float. Consists of NOH and ATS balances at 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), MMDAs and savings and small time deposit* 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) 9. Issued by foreign branches of U.S. banks worldwide to U.S. residents othe^ than c'e^osito^y institutions and ^oney **s^ket 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 At c: o m m e r c i a l thrift institutions banks Date Total 2 S m a l l - d e n o m i n a t i o n time d e p o s i t s Savings d e p o s i t s 1 Money m a r k e t d e p o s i t accounts At At commercia 1 m t h r i f t institutions banks Total At m commercial banks At thrift institutions Total Large-denomination time d e p o s i t s 3 At At commercial thrift banks4 institutions Total 1989-FEB, MAR. 545.8 541.2 145.2 140.6 487.0 481.7 187.9 187.8 229.2 229.5 417.1 417.0 465.4 475.7 591.6 591.4 1057.0 1067.1 579.2 588.8 174.5 175.5 555.5 562.1 APR. MAY JUNE 557.2 528.0 529.0 155.6 150.7 129.6 472.8 458.8 458.6 186.5 185.7 185.5 226.6 222.7 222.7 412.9 406.4 406.2 486.5 496.0 502.5 597.4 605.8 611.0 1085.7 1099.8 1115.5 592.2 596.1 596.4 174.4 176.4 176.1 566.6 572.5 572.6 JULY AUG. SEP. 551.5 556.4 559.6 129.8 150.6 151.1 461.4 467.0 470.6 184.7 184.4 184.4 222.7 220.5 220.5 407.5 404.9 404.6 507.1 511.5 515.9 618.0 619.9 618.2 1125.1 1151.2 1152.1 596.5 598.4 598.6 174.2 172.0 168.8 570.7 570.4 567.4 OCT. NOV. DEC. 542.7 550.5 555.0 151.8 152.8 152.8 474.6 485.1 487.8 185.9 187.1 187.2 221.5 220.5 219.0 407.2 407.6 406.2 519.2 525.1 526.4 616.5 614.2 612.5 1155.5 1157.5 1158.8 599.9 401.9 599.8 165.5 161.7 158.5 565.4 565.6 558.1 1990-JAN. FEB. MAR. 556.5 557.7 560.8 152.9 155.5 156.1 489.5 491.1 496.9 189.0 190.5 195.2 218.8 219.5 220.9 407.7 410.0 414.1 550.8 555.2 558.5 615.2 608.7 605.9 1144.0 1145.9 1144.2 598.9 599.2 599.2 154.1 150.6 146.4 555.0 549.7 545.6 APR. MAY JUNE 562.5 561.1 565.9 155.9 155.8 152.5 498.4 494.9 498.5 194.5 194.1 196.2 222.4 221.9 222.4 416.7 416.0 418.6 541.7 549.8 560.5 602.4 592.7 585.1 1144.1 1142.5 1145.6 594.6 596.8 596.5 141.6 157.4 155.5 556.2 554.5 550.0 21 28 561.7 562.1 155.9 152.7 495.6 494.8 194.2 194.5 222.0 220.8 416.2 415.5 550.0 555.1 592.4 589.1 1142.4 1142.2 596.7 599.5 157.1 156.0 555.7 555.5 JUNE 4 11 18 25 564.9 567.1 567.5 564.5 155.1 155.5 152.8 151.8 498.0 500.6 500.4 496.1 195.8 196.4 195.9 195.9 221.7 222.8 222.9 221.7 417.5 419.1 418.8 417.6 555.7 558.5 560.2 562.1 587.0 584.5 582.5 580.8 1142.7 1142.8 1142.7 1142.9 597.2 598.4 597.0 595.5 155.5 154.4 155.2 152.9 552.7 552.7 550.2 528.4 JULY 2 9p 16p 564.9 568.0 568.6 151.1 151.8 151.8 496.1 499.8 500.4 197.1 198.6 198.4 222.9 224.5 224.0 419.9 425.0 422.4 565.4 568.8 569.6 582.1 578.5 577.2 1147.5 1147.1 1146.8 595.5 597.4 597.4 151.8 150.5 129.5 525.5 527.6 526.9 Heek e n d i n g 1990-MAY 1. 2. Savings deposits exclude MMDAs. Small-denomination time 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. 5. 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 5-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Term RPs 1 At At Institutionthrift only money commercial institutions banks market funds Date Debt components6 Non-M3 Components of L Total Term Eurodollars2 Savings bonds Short-term Treasury securities31 Bankers acceptances* Commercial paper5 Federal debt Non-Federal debt 1989-FEB. MAR. 89.6 87.6 44.8 46.3 81.9 82.6 126.7 128.9 100.1 105.7 111.0 111.7 274.1 277.8 39.8 40.4 346.3 349.4 2133.7 2149.0 7010.0 7048.5 APR. MAY JUNE 87.7 91.6 95.1 43.8 43.7 43.7 82.5 83.8 84.7 126.3 127.5 128.4 100.3 97.2 93.4 112.4 113.0 113.7 204.4 289.1 288.1 41.0 41.2 41.5 356,1 356.2 355.4 2155.1 2159.5 2165.1 7098.8 7156.2 7210.7 JULY AUG. SEP. 98.2 100.6 99.2 45.0 45.1 47.5 78.8 71.8 65.5 123.8 116.9 112.9 91.8 89.8 85.6 114.2 114.7 115.4 288.4 296.7 312.0 42.2 42.7 41.6 348.8 353.1 348.0 2163.7 2179.6 2200.9 7261.2 7306.4 7349.7 OCT. NOV. DEC. 98.7 102.1 102.9 47.8 49.1 44.9 60.5 58.1 50.0 108.3 107.2 94.9 80.2 79.5 81.4 116.0 116.6 117.3 321.6 325.8 337.1 40.4 41.0 41.7 345.8 343.3 344.7 2222.6 2250.7 2264.1 7401.0 7449.9 7498.1 1990-JAN. FEB. MAR. 106.0 107.0 106.8 46.3 50.2 48.6 45.2 44.7 44.6 91.5 94.9 93.1 74.3 68.5 66.5 118.0 118.5 119.4 340.4 334.6 346.8 40.4 37.5 36.1 347.3 347.6 343.8 2275.6 2293.1 2317.3 7539.3 7566.6 7597.0 APR. MAY JUNE 105.8 106.7 106.1 47.8 47.5 49.3 44.9 45.5 45.3 92.7 93.0 94.6 65.9 68.1 64.5 120.2 120.9 p 338.7 322.9 p 35.3 35.2 p 355.4 357.8 p 2329.1 2337.8 p 7637.2 7677.9 p 21 28 107.0 106.9 47.0 47.9 45.0 44.9 92.0 92.8 68.4 68.4 JUNE 4 11 18 25 106.6 106.5 105.9 106.0 48.4 50.1 49.5 49.6 45.6 45.0 45.4 45.2 93.9 95.0 94.9 94.8 66.8 66.1 64.5 63.0 JULY 2 9p 16p 105.6 106.3 106.8 48.3 47.7 48.2 45.3 44.9 43.3 93.6 92.6 91.4 62.5 61.8 59.9 Week ending 1990-MAY 1. 2. 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. 3. Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal Reserve Banks, money market mutual funds, and foreign entities. 4. Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds. 5. Total commercial paper less commercial paper held by money market mutual funds. 6. Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities. p--indicates preliminary data. H.6 ( 5 0 8 ) Table 6 MEMORANDUM ITEMS 10 Billions of dollars* not seasonally adjusted Demand deposits at banks due to Date 1989-FEB. MAR. 9.4 8.8 1.8 1.7 IRA and Keogh Accounts U.S. government deposits Time and savings deposits due to Foreign Foreign foreign banks commercial t official and official banks institutions institutions Demand deposits at commercial banks 4.1 4.2 3.7 3.8 Balance at Federal Reserve Time and savings deposits At At sits at commercial commercial thrift banks banks institutions Total 124.3 125.4 21.2 22.2 241.7 244.9 99.9 101.8 102.8 127.3 128.6 130.0 23.1 23.6 23.8 250.3 254.0 256.5 104. 105. 106, 131.2 131.4 132.2 24.7 24.8 26.4 260.0 261.5 264.6 107.3 108.0 108.7 132.5 132.3 133.3 27.1 27.5 28.0 266.9 267.8 270.0 Total cash balance 22.2 14.3 96, 97, 5. 5. 6. 14. 9. 15. 31, 21, 31. 23. 29. 48. 35.8 At money market funds Note balances at depository institutions APR. MAY JUNE 8 8 10, JULY AUG. SEP. 10. 8. 9. 6. 5. 7. 19. 12. 19. 29, 21, 32, OCT. NOV. DEC. 9. 9. 9. 5. 5. 4. 17. 11. 14. 26, 19. 24, 1990-JAN. FEB. MAR. 18.8 18.5 13.1 29, 28. 22. 110. 111. 113. 134.4 135.3 136.5 e 30.0 32.0 32.7 e 274.8 279.2 282.5 e APR. MAY JUNE 14.9 21.8 15.4 24. 30, 25. 115. 117. 119. 138.4 e 139.3 e 139.6 e 33.1 e 33.5 e 33.5 e 287.1 e 290.5 e 292.6 e 5.2 3.3 4.6 1.4 1.4 1.4 Neek e n d i n g 1990-MAY JUNE JULY 21 28 9.2 9.1 1.7 1.5 3.6 3.6 4 11 18 25 10.4 8.9 9.0 8.2 1.7 1.5 1.5 1.5 3.6 3.6 3.6 3.6 2 9p 16p 9.3 9.3 8.6 1.6 1.6 1.5 3.6 3.6 3.5 e—indicates estimated data, p—indicates preliminary data. • 4.0 2.7 4.8 5.0 16.0 14.3 24.9 22.0 1.3 1.3 3.3 3.7 11.9 3.9 5.3 4.3 4.9 5.3 9.1 4.2 6.5 30.3 17.7 12.2 23.3 39.5 1.3 1.3 1.3 1.3 3.4 4.2 3.4 5.5 6.3 5.0 27.6 5.1 5.2 36.4 15.6 13.6 1.3 1.3 1.3