Full text of H.6 Money Stock Measures : July 27, 1989
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
ifisg&;> FEDERAL RESERVE statistical release :^LRE^ H.6 (508) Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES JULY 27, 1989 Billions of dollars Date M1J M2 2 Debt5 M3J Seasonally adjusted 1987-JULY AUG. SEP. OCT. NOV. DEC. 742.8 745.6 747.9 757.3 754.6 752.3 2856.2 2869.6 2885.3 2902.7 2904.7 2909.9 3588. 3610. 3630. 3655. 3670. 3677. 4237.4 4262.5 4293.3 4327.5 4337.2 4340.2 7987.4 8043.7 8108.7 8177.8 8256.0 8310.7 1988-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 758.4 760.1 763.8 771.2 771.1 776.5 782.5 782.4 783.7 785.4 786.6 790.3 2930.5 2950.8 2969.3 2990.3 2999.8 3013.1 3023. 3029. 3035. 3042. 3059. 3069. 3702. 3732. 3757. 3780. 3795. 3816. 3839. 3851. 3860. 3877. 3897. 3914. 4376.9 4407.2 4437.0 4475.8 4504.2 4521.1 4565.1 4583.6 4591.7 4612.5 4638.4 4674.9 8354.5 8412.5 8478.4 8540.2 8599.5 8659.1 8718.8 8784.3 8850.0 8912.4 8988.6 9052.1 1989-JAN. FEB. MAR. APR. MAY JUNE 786.3 787.4 786.3 783.2 773.4 770.7 3065. 3069. 3078. 3081. 3072. 3090. 3918.7 3928.1 3950.1 3958.1 3954.4 3975.1 4678.3 4690.6 4724.1 4740.2 4739.4 p 9107.2 9172.3 9229.4 9283.0 9339.5 p Not seasonally adjusted 1987-JULY AUG. SEP. OCT. NOV. DEC. 747.0 745.2 745.5 754.1 756.5 766.4 2863.2 2869.8 2878.9 2899.1 2903.9 2918.7 3590.2 3609.9 3628.4 3653.1 3674.8 3688.5 4230.8 4257.2 4288.0 4323.5 4344.7 4354.5 7960.1 8015.2 8080.3 8148.1 8222.2 8292.8 1988-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 765.2 745.5 752.6 779.1 764.6 779.9 786.9 782.3 781.0 782.1 788.3 804.4 2941. 2938. 2962. 3001. 2990. 3015. 3031, 3030. 3028. 3038. 3057. 3077. 3710. 3720. 3751. 3786. 3785. 3816. 3840. 3852. 3858. 3874, 3902, 3924 4393.1 4403.1 4433.4 4479.1 4492.1 4521.6 4557.1 4578.4 4586.8 4608.4 4646.1 4688.5 8337.2 8375.9 8440.7 8503.1 8562.2 8626.7 8684.5 8744.5 8815.9 8880.9 8957.5 9037.5 1989-JAN. FEB. MAR. APR. MAY JUNE 793.0 772.3 775.1 791.4 767.2 774.3 3076. 3056. 3072. 3092. 3063. 3092.8 3926.2 3916.1 3944.8 3963.6 3944.3 3975.7 4694.9 4687.6 4720.7 4742.0 4728.1 p 9091.2 9136.4 9190.2 9246.6 9306.2 p Footnotes appear on the following page, p—indicates preliminary data. H.6 ( 5 0 8 ) Table 2 MONEY STOCK AND DEBT MEASURES Percent change at seasonally adjusted annual rates Ml M2 M3 Debt 3 -7.9 1.5 2.5 7.3 6 Months from DEC. 1988 TO JUNE 1989 -5.0 1.3 3.1 7.8 12 Months from JUNE 1988 to JUNE 1989 -0.7 2.6 4.2 8.6 APR. 17, 1989 (13 weeks previous) -5.4 1.7 3.2 JAN. 16> 1989 (26 weeks previous) -3.2 1.7 3.4 JULY 18, 1988 (52 weeks previous) -0.1 2.6 4.3 3 Months from MAR. 1989 TO JUNE 1989 Thirteen weeks ending JULY 17, 1989 from thirteen weeks ending: 1. Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, February 1989 to May 1989, November 1988 to Hay 1989, and May 1988 to May 1989, respectively. 1. Consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions* (2) travelers checks of nonbank issuers* (3) demand deposits at all commercial banks other than those due to depository institutions, the U.S. government, and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float* and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NON) and automatic transfer service (ATS) accounts at depository institutions, credit union 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 commercial banks and overnight Eurodollars issued to U.S. residents by foreign branches of U.S. banks worldwide, money market deposit accounts (MMDAs), savings and smalldenomination time deposits (time deposits—including retail RPs—in amounts of less than $100,000), and balances in both taxable and tax-exempt general purpose and broker/dealer money market mutual funds. Excludes individual retirement account (IRA) and Keogh balances at depository institutions and money market funds. Also excludes all balances held by U.S. commercial banks, money market funds (general purpose and broker/dealer), foreign governments and commercial banks, and the U.S. government. Seasonally adjusted M2 is computed by adjusting its non-Mi component as a whole and then adding this result to seasonally adjusted Ml. Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more) and term RP liabilities issued by commercial banks and thrift 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 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-averaqe 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. Footnotes to Table 1 2. 3. 4. 5. H.6 ( 5 0 8 ) Table 3 MONEY STOCK MEASURES Billions of dollars Seasonally adjus;ted Ml 4-week average 3080.5 3942.9 3957.9 3958.1 3080.2 3076.8 3073.5 3071.6 3072.7 3072.2 3070.1 3071.1 3072.9 3076.5 3945.5 3948.0 3950.9 3952.1 3953.8 3957.6 3955.2 3954.1 3952.9 3954.2 3951.6 3950.5 3956.1 3953.2 3957.0 3077.5 3078.4 3079.1 3080.4 3075.3 3079.2 3083.8 3088.2 3080.6 3086.8 3091.3 3094.0 3955.5 3957.5 3959.0 3960.8 3957.7 3961.3 3967.4 3972.5 3964.4 3970.4 3977.6 3977.6 3082.0 3084.7 3087.7 3093.5 3101.5 3109.6 3101.8 3119.0 3123.7 3963.8 3967.5 3971.2 3979.5 3988.9 3996.8 3992.5 4008.0 4009.1 4-week average 787.0 3075.8 3082.5 783.0 780.7 778.7 775.0 773.0 781.6 773.0 773.2 772.1 773.6 3076.3 3076.9 3077.3 3077.4 3077.6 779.9 778.8 777.3 776.0 773.8 772.9 771.8 770.8 776.1 769.6 767.9 769.4 775.7 775.5 775.2 771.1 773.5 775.9 777.4 779.1 777.5 13-week average 4-week average 1989-APR. 24 785.9 782.8 MAY 1 8 15 22 29 785.5 784.4 783.6 782.3 781.1 JUNE 5 12 19 26 JULY 3 lOp 17p week average week average 13-week average 13-week average Period en<ding M3 M2 week average Not seasonally adjusted Ml 4-week average Period ending 13-week average 1989-APR. 24 778.7 791.8 MAY 1 8 15 22 29 779.8 779.4 779.2 778.4 777.9 791.2 786.2 779.4 771.7 766.2 JUNE 5 12 19 26 777.8 778.0 778.1 777.6 767.9 770.0 773.7 774.6 JULY 3 lOp 17p 777.6 777.8 776.7 774.1 778.6 781.0 M3 M2 week average 13-week average 4-week average week average 790.8 3072.5 3097.5 777.9 776.8 771.9 760.3 755.8 3074.0 3074.5 3075.0 3075.3 3075.9 3090.9 3079.9 3069.8 3064.0 3062.2 783.6 780.2 775.3 759.4 3077.0 3078.9 3080.6 3082.1 781.3 798.3 784.9 3083.5 3086.0 3088.2 week average 13-week average 4-week average 3083.3 3938.6 3967.9 3951.6 3063.9 3066.3 3065.7 3060.0 3056.8 3941.8 3944.1 3946.3 3948.0 3950.4 3961.5 3951.9 3944.8 3942.3 3943.4 3937.6 3944.0 3946.0 3941.5 3941.9 3068.4 3076.6 3085.5 3091.2 3091.1 3098.4 3095.6 3079.6 3953.0 3955.9 3958.2 3959.9 3950.6 3959.5 3968.9 3973.9 3972.9 3981.7 3979.0 3962.1 3095.4 3106.5 3116.5 3107.9 3143.0 3135.5 3962.1 3965.0 3967.9 3978.7 3988.3 3996.7 3991.9 4020.0 4012.9 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—indicates preliminary data. H.6 ( 5 0 8 ) Table 4 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Nontransactions components Small time deposi ts 8 Savings deposits7 At thrift institutions Total 393.7 398.1 548.7 554.7 942.4 952.8 423.3 425.2 427.6 403.2 406.2 409.3 560.2 564.8 566.4 963.4 971.0 975.7 240.5 240-. 9 240.3 429.7 430.9 430.5 412.9 417.4 423.6 568.1 570.9 575.1 981.0 988.3 998.7 189.8 192.8 192.5 239.4 239.1 238.8 429.2 431.8 431.3 430.9 436.4 443.1 578.8 581.4 582.2 1009.7 1017.8 1025.2 853.1 859.0 871.3 190.8 190.3 188.6 237.0 234.3 232.2 427.8 424.6 420.8 451.0 461.0 472.0 584.7 587.4 589.0 1035.7 1048.3 1061.0 2298.1 2299.4 2319.2 876.8 881.6 885.2 185.6 182.5 181.5 227.3 222.4 220.7 412.9 404.8 402.3 485.6 497.2 502.3 597.6 609.0 617.7 1083.2 1106.1 1120.0 270.9 272.6 2300.8 2302.9 880.3 880.5 182.2 181.9 222.1 221.6 404.3 403.4 498.7 499.8 610.4 612.5 1109.1 1112.3 277.8 275.4 273.6 274.0 274.3 270.0 269.6 269.9 2304.5 2317.3 2323.3 2324.6 883.8 883.5 886.3 883.6 181.9 181.5 181.3 181.5 221.2 221.0 221.0 220.5 403.0 402.5 402.3 402.0 500.6 501.7 502.8 502.9 614.0 616.7 618.9 619.0 1114.6 1118.4 1121.7 1121.9 279.4 282.7 279.4 273.5 271.9 273.0 2324.4 2339.9 2346.2 890.7 889.0 885.4 181.8 182.2 181.7 219.8 219.9 219.8 401.6 402.0 401.6 503.3 505.1 506.7 619.6 621.9 623.7 1122.9 1127.0 1130.4 Date Currency1 Travelers checks *• Demand deposits3 Other checkable4 deposits In M2 5 In M3 only6 At commercia 1 banks At thrift institutions Total 1988-FEB. MAR. 199.4 200.7 7.3 7.2 288.1 288.4 265.4 267.5 2190.7 2205.5 781.8 787.7 181.3 183.3 237.5 238.1 418.8 421.5 APR. MAY JUNE 202.4 203.4 204.7 7.2 7.3 7.3 290.3 288.1 289.8 271.2 272.2 274.7 2219.1 2228.8 2236.6 790.3 795.7 803.3 184.5 186.0 187.7 238.8 239.3 239.8 JULY AUG. SEP. 206.4 207.0 208.6 7.2 7.2 7.3 290.4 289.9 288.8 278.5 278.3 279.0 2241.4 2247.3 2251.3 815.2 821.4 825.5 189.1 190.0 190.1 OCT. NOV. DEC. 209.7 210.5 211.8 7.4 7.5 7.6 288.9 287.7 288.6 279.4 281.0 282.3 2256.8 2272.7 2279.2 835.0 837.8 844.8 1989-JAN. FEB. MAR. 213.4 214.3 215.6 7.6 7.5 7.3 284.0 284.8 284.3 281.3 280.9 279.1 2279.4 2281.8 2292.5 APR. MAY JUNE 215.9 216.4 217.4 7.3 7.3 7.2 281.5 278.3 275.1 278.5 271.5 271.0 22 29 216.6 216.9 7.3 7.3 277.3 276.7 JUNE 5 12 19 26 216.7 216.9 217.5 218.3 7.3 7.2 7.2 7.2 JULY 3 lOp 17p 217.4 217.4 217.9 7.1 7.1 e 7.1 e At m commercial banks Meek ending 1989-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 and foreign-related institutions other than those due to depository institutions, the U.S. government and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float. 4. Consists of NOH and ATS balances at all depository institutions, credit union share draft balances and demand deposits at thrift institutions. 5. Sum of overnight RPs and overnight 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. 6. Sum of large time deposits, term RPs and term 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 funds. This sum is seasonally adjusted as a whole. 7. Savings deposits exclude MMDAs. 8. 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. 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 Large time deposits1 At commercial banks 2 Date Debt components6 Non-M3 coimponents of L At thrift institutions Total Savings bonds Short-term Treasury securities3 Bankers acceptances* Commercial paper5 Federal debt Non-federal debt 1988-FEB. MAR. 328.4 331.0 163.9 165.3 492.3 496.3 102.5 103.4 256.9 255.1 41.0 41.1 274.2 280.3 1981.0 2006.2 6431.5 6472.2 APR. MAY JUNE 331.8 334.1 339.6 167.4 168.2 168.2 499.2 502.4 507.8 104.4 105.3 106.0 261.8 264.5 257.6 41.4 41.1 40.7 287.6 297.8 300.4 2018.2 2023.2 2033.3 6522.0 6576.4 6625.8 JULY AUG. SEP. 345.5 350.8 355.0 168.5 168.6 171.7 514.0 519.4 526.7 106.8 107.4 107.9 268.7 272.6 272.8 40.7 41.2 41.7 309.8 311.3 308.8 2042.7 2059.5 2079.9 6676.1 6724.8 6770.1 OCT. NOV. DEC. 359.2 361.2 364.9 172.8 173.2 172.9 532.0 534.4 537.7 108.4 108.7 109.1 273.3 268.4 275.2 41.3 40.5 40.6 312.3 323.7 335.8 2088.8 2100.6 2114.0 6823.6 6888.0 6938.1 1989-JAN. FEB. MAR. 370.7 378.2 385.5 173.7 173.4 173.4 544.4 551.6 558.8 109.7 110.6 111.5 274.5 267.8 272.1 40.6 39.9 41.2 334.9 344.2 349.2 2122.3 2140.4 2162.6 6984.9 7032.0 7066.7 APR. MAY JUNE 392.6 395.7 396.6 175.2 176.3 176.6 567.7 572.0 573.2 112.3 112.9 p 274.3 274.0 p 41.4 40.6 p 354.2 357.4 p 2171.8 2177.0 p 7111.3 7162.6 p 22 29 395.3 396.1 176.3 176.6 571.6 572.6 JUNE 5 12 19 26 395.2 397.3 398.7 395.8 177.3 177.1 176.6 176.2 572.5 574.4 575.3 571.9 JULY 3 lOp 17p 394.9 397.7 398.9 175.3 175.6 175.8 570.2 573.4 574.7 Neek ending 1989-MAY 1. Large denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities. 2. Large denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions and foreign banks and official institutions. 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 5 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Other checkable deposi ts Currency Date 1 Demand Travelers checks 2 deposits3 A* commercial banks*4 At thrift institutions5 Nontransact ions components Total In M 2 6 In M3 only 7 Overnight RPs 8 Overnight Eurodollars9 Genleral purpose and broker/dealer money market funds 1988-FEB. MAR. 197.1 199.1 6.8 6.9 279.1 279.9 182.0 184.2 80.4 82.5 262.4 266.7 2192.8 2209.7 782.4 789.1 61.5 59.7 16.4 14.8 231.0 234.8 APR. MAY JUNE 201.6 203.6 205.7 6.9 7.1 7.6 292.1 283.1 291.3 191.2 185.1 187.6 87.3 85.7 87.6 278.5 270.8 275.3 2222.3 2225.5 2235.6 785.4 795.3 801.2 60.2 63.2 63.7 15.5 17.2 17.2 235.8 231.8 228.9 JULY AUG. SEP. 208.0 207.9 208.0 8.2 8.2 7.9 293.1 289.0 287.4 188.7 188.8 189.7 88.9 88.4 88.1 277.7 277.2 277.8 2244.6 2248.2 2247.5 809.2 821.5 830.1 62.0 64.1 62.6 15.6 15.8 14.7 229.6 230.8 231.0 OCT. NOV. DEC. 209.0 211.3 214.9 7.5 7.1 6.9 288.7 290.0 298.8 189.0 191.3 195.0 88.0 88.6 88.7 276.9 279.9 283.7 2256.3 2269.6 2272.8 836.5 844.4 846.9 62.1 62.6 64.9 13.9 13.0 13.4 231.3 237.4 239.4 1989-JAN. FEB. MAR. 211.8 211.9 213.9 7.0 7.1 7.0 290.5 275.7 275.8 196.3 192.2 192.6 87.5 85.4 85.8 283.7 277.6 278.3 2282.9 2284.4 2297.0 850.3 859.4 872.7 65.0 63.7 62.9 16.6 15.1 14.3 241.7 247.2 256.0 APR. MAY JUNE 215.1 216.6 218.5 7.0 7.1 7.5 283.3 273.4 276.5 197.5 186.1 187.0 88.5 84.0 84.7 286.0 270.2 271.7 2301.5 2296.2 2318.5 870.7 880.9 883.0 59.5 57.9 59.8 14.4 14.7 14.9 260.2 259.9 266.2 22 29 216.4 216.7 7.1 7.2 269.4 267.4 184. 182. 83.0 81.7 267.4 264.6 2299.7 2301.0 881.5 885.1 58.2 58.2 15. 15. 261.6 261.8 5 12 19 26 218.2 219.2 218.4 217.7 7.2 7.4 7.5 7.7 281.8 277.8 276.8 269.3 189. 189. 187. 182. 86.7 86.3 84.8 82.0 276.4 275.9 272.5 264.7 2307.6 2318.3 2320.4 2320.2 881.8 883.2 883.4 882.5 57.6 61.2 61.3 60.1 14. 14. 14. 16. 262 264, 266, 268. 3 lOp 17p 218.9 221.3 219.8 7.8 7.9 e 8.0 e 284.2 290.4 283.4 185.8 191.2 187.7 84.5 87.5 86.0 270.3 278.7 273.6 2326.6 2344.7 2350.6 884.1 877.0 877.4 57.2 60.3 62.4 15. 17. 16. 268. 272. 275.8 Neek ending 1989-MAY JUNE JULY 1. 2. 3. 4. 5. 6. 7. 8. Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions. Outstanding amount of U.S. dollai—denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits. 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), MMDAs and savings 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 commercial banks to other than depository institutions and money market mutual X 1_ i l ^ . , ^ « r t 4 » r t -»r%,-l k r n l f o h / r l o a l p r l . -PW roM enom enom 1 in pre lal ft) ] 3 H--J M « J U C O 0 Q. V> H- H " (0 (0 3 to Hc (0 ! M> (0 C H' 0) 3 §J Q.(/> 2. -*» 1 ft) V) • *•</» 3 (0 0"Hft) H« H- <§- (0 0) H'O •J IS" o 0) * a- S»L 0) > H-0 H'3 M 9 M« > t— 3 (0 W T H-3 H'Q) rt-H- 3 H'H- H-0) 0 H1 < H. H- o o o %% 0 (0 V) Q. </> M O O a.8" V) (0 H-+.H- 3" (A M It Oo o Ip 0 0 0 NJ03NJ UlUlUl s s s WO^NO www Ui -P^ un WWW vQ *^) NO ^ ^ W WNOW x4^M rororo <r^ 4^M O O WO" 030^ o o w>j 0".p >0>0 vi a^ rs> w UlUHJlUl O s >J>J , >J 03OMO MO^WUl .P.PU1U1 o^>o>o03 ttiri UlUl %JON rs>sO WsO oa- WWWW WW ^O N© ^D ^P ^D ^P ^VJlUl^ > J ^ OOWO^W Ul^Mvi M M M O CDOO^sO ^-PrOsO MO03 0^"M>0 M M M O roroM o.po.p MOvOxj Ui«Prv) 0 Njroui OO^OvO ;*• UiUi roro row o o o o o o UlO"->4%J Ulxj rv>0"sOifl - M M -P0"ro03 rororvaro row-PW O O O o o o 03s0"sl 0"sO.p rs>0303 rorssrv) •P-PW fS>0" 03O03>i •PM-vJ M W uiui UlO" OUl 03 03 03 00 03 03 IN)WWW WW (D (0 H-X 0 Q ? 0) 3 H« i w roro sO sO 03 03 05 •PUlW M M M M ^0>JUI H N W M M M uiimnui -P>j0303 *Dfr*4sO o"0"Ui OOO" t-i*-H-i » 03 03 s© rorororo rororvj Ul-P>0.P OHN >ONO03 0"0" 0 " 0 3 s 0 03 M03 WW WWWW rv>r\> roro WWW WWN MM03 0">oroin fV)MM 3 HW 3 -1 ft) (0 1 * < (0 3$ 3 o-o < o o 3"</>V> (0 (0 M M h-OH-HC L O W </> "Kg (A 0 (0 0 H-H-(0 8!- H-ft) H I D 1 • 1 W C H •0) M-O V)3U7) <rS8 0) V) - h - J h-W -J (0 H0) M' 0) Q. 3 W M oH > H > a m O 0 3 3 (0 T 0) 0) W HO C si </> > -i Q.Q.H (0 (0 -fc (0 Z T3T3 H0 0 W (A V) H'H'O) • - • w r H H - T H-W V) (0 (A If a. So H-W H'H'CT H ' O H - H - 3 3 ft) 3 W 3 H - 0 )ft)3 ft) H> H •*•*-*• TTi+rh 3 C H ' H ' W H'W 0) H - 0 0 T M - 3 3 ft) X 3 H-H-4 H - 0 Q.W H ' H H't— MM NJOW JUNE I* H - 0 (0 (0 (0 tO H . | 1 1 (0 ft) Q . 0 . 0 0 . 0 (0 JULY V<2 H'-hft) 0) 0 3 0) 0 - K T 1 3 ft) < Q.0 r-r-0 C/>(/> i •o 989- -MAY 03^JM Us l U sl U ls 0 0 0 sOsO-P viro-Ni ™.pro UlUiUl o"Ui*" oroOi ro WsO -NI-M-NJ O M W MUlUl v|Vl>J WWW 03 v j > 4 ->J030 O ^ O " 03WM WWW sOsOsO Ul^O O O O 0"VJ1-P Ul-PM M O O M>O03 WvON O0"l71 rOM03 WU103 03030" NONO 03 O03O wrs>w •NlO^tfl -P-vlCD H H N 0303^0 ^jino" rororo www o o w 03r\) w 03 03 03 ->J03>0 omin wwro 0303O rovooo * " ^ ^ oroo^ vO M O OUIO" O > 0 03 O W W OO^M O O M O" >4^" Ui03>o wws rororo Wviro 03 03 03 WWO" O^SH >oow UlLTI-Nl o^voo rorow 03sOUi MUl W WMW . . . www -P-P-P orooo • 70UJZ. Z-nC > m > www rorow 05^ja» m Z<70 C_3> C>"0 03 o^aio" >J030 0 > J H W W W L 2 > —- — Z-<» m . vOMM 03OU1 Ol\)0 wroro 0"W^ WWW NO-VJUI U1U1U1 MfViUl UHJllXI WHO NONOO rosOUi INJ-NIO" ^^"4> OvON >J O" 0 s OWNO 0"W03 •vj ^J >J W W W UlUl^ *VJMI\> WWW 0"O"O" Uiroo 0"0"sO vOOf> UlUlO" >0 sO sO >003>J ^10303 vlO"©" r003O" uiuivji rv>rs>tfi rs>MM ^"sJINJ -g03 rorv> ww 0"W in^ ro so 03^1 UiO" vnui rv> no Uiw O03 WVIUI 03U1M O0>0 .POO" UHJl^ 0"wo 0"-NJ0" 0 s O" 0 s rsjr^M W W W W W W 03WO UlMrO ouiro sO sD sO xJO^O" >oO303 O" O" O" N H O uiuiui 0"W^ O O O >JWM UT>4 03v0 NOSO vjro -P^ ro-vi Ui-P O" O" ui ro WW WIN) rs>03 03M sO NO \J)& brv) inui UIUI ->JfS> -vjo vOsO 03U1 ww rorv> ^-P4> ^ ^ wrorvo \-»^ r o v i ^ sow "NJO"^ p^roro ^*»w roOsO O»MO vO-NjUl 03 03 03 ^ ^ 4 > ^ ^ * " >O->JO 4>^^ www owo" M03U1 0"vOO O O O l\)MM •P03W O303VJ (\)MsO vninvji HSW •PWW •P-sIM ^ ^ ^ NO^SO ^ ^ ^ N W W m o o 0"fV>>J rororo ^^4> H N ^ 03 vO vO \0>OvO ^ - N J O rsjinrv* uiuiui is>roro wo-P UI-NIW ^Jviui ooo" uiuiui *-*)->ni Mvjro rororo w w ^ U103O U103 M O &\jy WW 7QQ3 Z-n >m ino^a- a-o^o^ o^o^ s o n rorow ^ w W S W ^-NlO uiuio" W W W </>>tm c c •oor -< uiuiui o o o rvjO">j wo^in invnvn oro-P U1MO TO&KM uiuiui WWW OZO -top 0 < H vO 03 03 I 0 H- ! 3 (0 IS) HW (/) H' 0. (D •o 0 3 (0 H- H- § H' 3 ft) H- §H ' ft) M M 1 Q. (0 3 if 8"0 0 w H' < CO 0) (0 0) 3 < 1 H'3" H-T > C H'H- (A 3 ^ T 3 (0 > H 0 H0) M w 3 V) H-HH'T H-T > C H'HH--H H'H0 3 H' 0"3 0) (0 > 3 T H7^0 W H' ft) M o H'3" v> 3 ft) V) H . 0) (0 > 0 o r¥f¥ H'3" H--J > C H'H- 3 w ft) 0-3 ft) (0 > 3 1 H7T0 W H- M V ^ I 03 * H m oo z o o > H m > CO o c o "SO a) m a) O H- ft) " 1 Q. H - 2 (0 am 0O8- W ro Ul 3 - n uio h-%^ Hl—p 0 SB CBA H I H A / Q) • M / S 0"O" H.6 (508) Table 5-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjustea Term RPs 1 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 securities3 Bankers acceptances4 Commercial paper5 Federal debt Non-Federal debt 1988-FEB. MAR. 98.7 97.4 43.6 43.9 70.5 68.1 114.2 112.0 86.9 91.1 102.7 103.6 262.9 257.5 41.0 40.4 275.8 280.5 1975.7 1994.5 6400.2 6446.2 APR. MAY JUNE 91.9 90.0 86.3 44.9 47.0 47.9 69.8 73.9 76.4 114.7 121.0 124.3 90.1 92.8 93.9 104.6 105.4 105.9 261.9 259.4 254.1 40.9 41.1 41.0 285.0 300.8 303.8 2003.1 2006.9 2016.5 6500.0 6555.3 6610.2 JULY AUG. SEP. 84.8 84.0 83.7 46.5 45.0 42.5 79.1 78.8 79.8 125.6 123.8 122.3 97.1 102.8 102.7 106.5 106.9 107.6 261.4 269.0 270.4 40.8 41.2 41.9 307.8 309.3 308.3 2024.1 2037.6 2056.6 6660.4 6706.9 6759.3 OCT. NOV. DEC. 84.6 87.4 87.6 42.9 45.1 40.0 81.9 82.4 83.0 124.7 127.5 123.1 100.2 101.6 105.8 108.3 108.7 109.2 270.7 274.3 281.7 41.5 40.9 40.9 313.1 320.0 332.5 2069.0 2090.0 2111.8 6811.9 6867.5 6925.7 1989-JAN. FEB. MAR. 89.3 89.6 87.6 40.5 44.3 45.9 83.5 82.8 83.5 124.1 127.1 129.4 100.6 100.3 106.0 110.1 111.0 111.7 279.0 274.4 274.2 40.2 39.8 40.4 339.4 346.3 349.4 2121.4 2133.6 2149.0 6969.9 7002.8 7041.2 APR. MAY JUNE 87.7 91.6 95.1 43.5 42.7 42.7 83.6 84.9 1 85.2 127.0 127.6 127.9 101.8 101.4 100.5 112.4 113.0 p 274.2 268.8 p 41.0 40.6 p 350.8 361.4 p 2155.1 2159.5 p 7091.5 7146.7 p 22 29 93.1 93.3 42.8 43.3 84.8 85.1 127.6 128.4 100.9 101.0 JUNE 5 12 19 26 93.2 94.1 95.2 96.8 42.2 41.7 42.1 43.9 86.1 86.5 85.8 84.3 128.3 128.2 127.8 128.2 100.0 99.7 99.9 99.5 JULY 3 lOp 17p 95.7 96.7 98.7 44.3 43.5 42.4 82.2 79.9 77.9 126.5 123.4 120.3 105.1 100.6 101.7 Week ending 1989-MAY 1. Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs. Includes a relatively small amount of overniqht RPs at thrift institutions. 2. 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 Billions of dollars, not seasonally adjusted Demand deposits at banks due to Foreign Foreign official <commercial banks institutions Date U.S. government depo;sits Time and savings deposits due to foreign banks and official institutions Demand deposits at commercial banks Balance at Federal Reserve Note balances at depository institutions Total cash balance IRA and Keogh Accounts Time and savings deposits At at commercial commercia 1 m thrift institutions banks banks At money market funds Total 1988-FEB. MAR. 9.4 9.3 1.6 1.6 4.2 4.2 3.1 3.6 3.8 2.9 25.1 18.7 32.1 25.2 1.6 1.6 84.7 85.5 111.2 113.2 16.8 17.1 212.8 215.8 APR. MAY JUNE 9.1 9.2 9.6 1.9 1.7 1.8 4.3 4.2 4.2 5.3 3.3 4.3 5.1 7.2 4.1 16.4 27.1 16.7 26.8 37.5 25.0 1.6 1.6 1.7 87.3 88.8 89.4 115.4 116.5 117.7 18.0 18.6 18.4 220.7 223.9 225.5 JULY AUG. SEP. 10.0 9.3 9.6 1.9 1.7 1.6 4.3 4.3 4.3 3.4 3.0 4.1 3.9 3.2 7.4 18.6 8.9 20.4 25.9 15.1 32.0 1.7 1.6 1.5 90.2 91.2 91.8 119.0 119.5 120.5 18.5 18.7 18.7 227.7 229.4 231.0 OCT. NOV. DEC. 9.2 9.4 9.7 1.6 1.8 1.9 4.3 4.3 4.2 3.2 3.4 4.2 6.2 5.2 5.5 24.5 12.8 18.7 34.0 21.5 28.4 1.5 1.5 1.6 92.5 93.3 93.9 121.5 121.8 122.6 18.8 19.6 20.5 232.9 234.7 237.0 1989-JAN. FEB. MAR. 9.5 9.5 9.0 1.8 1.8 1.7 4.2 4.2 4.1 4.0 3.7 3.8 8.1 5.8 5.2 21.0 22.2 14.3 33.1 31.7 23.3 1.5 1.5 1.5 95.1 96.2 97.4 123.7 124.3 125.4 20.7 21.2 21.6 e 239.5 241.7 244.3 e APR. MAY JUNE 9.0 8.9 9.9 1.7 1.7 1.8 4.1 4.2 4.2 5.2 3.3 4.5 8.9 14.1 9.7 15.0 31.0 21.6 29.0 48.5 35.8 1.6 1.6 1.5 99.9 101.8 102.8 127.3 128.4 129.0 e 22.2 e 22.9 e 22.9 e 249.4 e 253.2 e 254.7 e 22 29 8.6 8.9 2.0 1.5 4.2 4.2 3.0 2.6 9.4 5.9 32.3 31.8 44.6 40.3 1.5 1.5 JUNE 5 12 19 26 11.3 10.0 8.9 9.9 1.6 1.9 1.8 1.8 4.1 4.2 4.2 4.2 3.8 3.3 7.9 3.6 5.4 5.5 5.9 17.9 18.2 9.2 22.2 31.4 27.5 18.0 36.0 52.9 1.5 1.5 1.5 1.5 JULY 3 lOp 17p 9.5 10.7 9.5 1.9 1.8 1.9 4.2 4.1 4.1 3.3 4.1 3.4 14.3 6.8 5.3 29.6 16.2 16.4 47.2 27.1 25.2 1.5 1.5 1.5 Meek ending 1989-MAY -indicates estimated data, -indicates preliminary data.