Full text of H.6 Money Stock Measures : July 31, 1986
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FEDERAL RESERVE statistical release These data are scheduled for release each Thursday at 4:30 p.m. / H . 6 (508) Table 1 JULY MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES 31, 1986 Billions of dollars M1 Sum of currency, travelers checks, demand deposits and other checkable deposits1 Date M2 M1 plus overnight RPs and Eurodollars, MMMF balances (gen. pur. and broker/dealer), MMDAs, and savings and small time deposits 2 M3 M2 plus large time deposits, term RPs, term Eurodollars and institution-only MMMF balances3 L Debt M3 plus other liquid assets 4 Debt of domestic nonfinancial sectors' 1 Seasonally adjusted 1985—JO ME JULY AUG. SEPT, OCT. NO?. DEC 1986—JAM, FEB. MAIL APR. HAY JUNE 590.9 596.2 604.8 611.5 614.2 620.1 626.6 2479.0 2496.1 2515.4 2529.5 2538.4 2550.8 2565.8 3097.0 3112.1 3130.1 3150.2 3164.9 31&0.2 3199.9 3665.7 3663.2 3711.2 3739.2 3760.7 3798.2 3837.0 6320.2 63d9.ti 6460.3 6525.3 6592.0 6680.3 6809.8 627.2 631. Q 638.4 646.1 656.7 666.7 2569.0 2576.6 2591.1 2620.9 2647.9 2668.9 3222.9 3239.6 3260.2 3289.1 3304.5 3322.5 3859.0 3877.2 3890.5 3913.2 3944.5 6913.8 6963.9 7012.3 7069.4 7129.5 Not seasonally adjusted 1985—JDNE JULY AUG. SEPT. OCT. NOV. DEC 1936—JAM. FEB. HAfi. APE. HA I JUNE 592.7 599.$ 602.0 609.1 612.2 621.7 639.9 2480.7 2501.0 2510.9 2521.0 2533.7 2549.1 2573.9 3097.0 3109.6 3126.1 3143.7 3161.9 3183.7 3212.6 3661,8 3682.7 3708.9 3734.8 3758.3 3800.9 3QH3.2 6299.3 6370.3 6441.5 6509.9 6578.4 6667.2 6803.9 633.5 2577.7 619.2 630.5 652.9 2569.9 2593.2 2630.5 2638.9 2671.1 3230.6 3231.5 3260.6 3295.6 3297.7 3323.3 3864.2 3869.6 3894.6 3923*3 3931.1 6907.2 6944.5 6985.2 7040.8 7103.8 651.8 669.1 M1 For period ended 13-week average 1986-JUME JULY NOTE: Seasonally adjusted 4-week average week average 13-week average Not seasonally adjusted 4-week average week average 2 9 16 23 30 448.6 650.8 6S3.1 655.2 657.2 659.8 662.5 664.9 666.3 667.2 663.2 667.1 668.5 666.5 666.7 645.9 649.2 652.5 655.3 657.9 651.9 657.7 663.3 667.9 669.1 658.5 676.5 675.0 661.4 663.5 7 14 P 21 P 659.4 661.8 664.3 669.0 674.1 673.3 677.7 660.4 662.6 664.2 672.8 675.5 679.8 691.2 685.8 678.6 670.2 673.0 SPECIAL CAUTION SHOULD &£ TAKEN IN INTERPRETING HEEK-TQ-1UK C1ANGSS IN HONEY SUPPLY DATA, MHICfl ABE HIGHLY VOLATILE AND SUBJECT TO REVISION. P—INDICATES PRELIfllNARY DATA. FOOTNOTES APPEAR ON THE FOLLOWING PAGE H.6 (508) Table 2 MONEY STOCK, LIQUID ASSETS AND DEBT MEASURES Percent change at seasonally adjusted annual rates M1 M2 12,0 M3 7.6 Debt1 3 MONTHS FfiOH MAR. 1986 TO JUNE 1986 17,7 6 MONTHS FBOH DEC. 1985 TO JUNE 1986 12-8 8- 0 7.7 13-4 1986 12.8 7.7 7.3 14.0 12 MONTHS FBOfl JUNE 1985 TO JUNE 9.5 THIRTEEN WEEKS ENDING JULY 2 1 , 1986 FROM THIBTEJBN VEZtS ENDING; 1/ 2/ 3/ 5/ APR. 2 1 , 1986 ( 1 3 WEEKS PBBVIOUS) 17.7 JAM. 2 0 , 1985 (26 HEEKS PREVIOUS) 13.1 JULY 22, u.o 1985 (52 iEEKS PREVIOUS) GROWTH BATES FOR DEBT ABE BASED OM PEBIODS BEGINNING AND ENDING ONE MONTH EABLIEB THAN FOB THE MONETARY AGGREGATES, NAMELY, FEBRUARY 1986 TO BAY 1986, NOVEflBEfi 1985 TO HAY 1986, AND MAY 1985 TO HAY 1986, RESPECTIVELY. FOOTNOTES TO TABLE 1 CONSISTS OF (1) CURRENCY OUTSIDE THE TREASURY, FEDERAL BESEBVE BANKS, AND TBS VAULTS OF COMMERCIAL BANKS; (2) TBATELEBS CHECKS OF HOHBAVK ISSUEBS; (3) DEMAND DEPOSITS AT ALL COSflEBCIAL BANKS OTHEH THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEflS III THE PROCESS OF COLLECTION AND FEDEBAL RESKB1E FLOAT; AID (4) OTHER CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE ORDER OF WITHDRAWAL (NOH) AND AUTOMATIC TBANSFSB SERVICE (ATS) ACCOUNTS AT DEPOSITOR! INSTITUTIONS, CREDIT UNION SHARE DRAFT ACCOUNTS AND DEMAND DEPOSITS AT THRIFT INSTITUTIONS. THE CUBBENCY AND DEMAND DEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AND DEMAND DEPOSITS, BESPECTIVELY, HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES. CONSISTS OF A1 PLUS OVERNIGHT (AND CONTINUING CONTRACT) BPS ISSUED BY ALL COMMEBCIAL BkU&S AND OVERNIGHT EURODOLLARS ISSUED TO U.S. RESIDENTS BY FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE, HMSAS, SAVINGS AMD SMALL DENOMINATION TIME DEPOSITS (TIME DEPOSITS—INCLUDING RETAIL BPS—IN AMOUNTS OF LESS THAN $100,000), AND BALANCES IN BOTH TAXABLE AND TAX-EXEMPT GENERAL PURPOSE AMD BROKER/DEALER MONEY MARKET MUTUAL FUNDS. EXCLUDES IRA AND KEOGH BALANCES AT DEPOSITORY INSTITUTIONS AND MONEI MARKET FUNDS. ALSO EXCLUDES ALL BALANCES HELD BY U.S. COMMERCIAL BANKS, MONEY MARKET FUNDS (GEVERAL PURPOSE AND BROKER/DEALER), FOREIGN GOVERNMENTS AND COMMERCIAL BANKS, AND THE CLS. GOVERNMENT. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS AMD VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS. CONSISTS OF H2 PLUS LARGE DENOMINATION TIME DEPOSITS (IN AMOUNTS Of $100,000 OB MORE) AND TERM RP LIABILITIES ISSUED BY COMMERCIAL BARKS AND THRIFT INSTITUTIONS, TERM EURODOLLARS HELD BY IS. S. RESIDENTS AT FOREIGN BRAJTCHES OF U.S. BkUKS WORLDWIDE AND AT ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA, AND BALANCES IN BOTH TAXABLE AND TAX-EXEMPT INSTXTOTION-OMLY 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 A CONSOLIDATION ADJUSTMENT THAT REPRESS""" THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS UELD BY INSTITUTION-ONLY MONEY MARKET MUTUAL FUNDS. CONSISTS OF M3 PLUS THE NONBANK PUBLIC HOLDINGS OF U.S. SAVINGS BONDS, SHOBT-TERM TREASURY SECURITIES, COMMERCIAL PAPER AND BkMMiERS ACCEPTANCES, NET OF MONEY MARKET MUTUAL FUND HOLDINGS OF THESE ASSETS. DEBT OF DOMESTIC NONFINANCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MARKET DEBT OF THE UNITED STATES 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 ABE DERIVED FROM THE FEDERAL RESERVE BOARD'S FLOW OF FUNDS ACCOUNTS. ALL DATA ON DEBT OF DOMESTIC NONFINANCIAL SECTORS ARK PRESENTED IN MONTH-AVERAGE FORM, DERIVED BY AVERAGING MONTH-END LEVELS OF ADJACENT MONTHS* THESE DATA HAVE ALSO BEEN ADJUSTED TO REMOVE STATISTICAL DISCONTINUITIES THAT MAY ARISE IN THE UNDERLYING fLON OF FUNDS STATISTICS. THE PRESENTATION OF DEBT DATA IN THIS RELEASE JJIfFBHS, THEREFORE, FROM THE QUARTERLY FLOW OF ^UHUS STATISTICS CONTAINED IN THE FEDERAL RESERVE RELEASES Z.7 AND Z. 1. IN THOSE RELEASES, PUBLISHED LEVEIS OF CfiEDIT MARKET DEBT ARE MEASURED ON A QUARTER-END BIS1S AND INCLUDE DISCONTINUITIES. H.6<9O0| COMPONENTS OF THE MONEY STOCK mmom of dollar*, seaaonsHy a d M * d Nontraneacttons components In M3 tall* only* CfieCkS^ deposits' Othsr checkable deposits4 164.4 5.7 259.0 161.8 1888.1 618.1 JULI AUG. SEPT. 165.3 166.9 167.7 5.8 5.9 5.9 260.4 263.1 266.4 164.8 169.0 171.5 1899.8 1910.6 1918.0 616.0 614.8 620.7 OCT. NOT. DEC. 168.7 169.8 170.6 5.9 5.9 5.9 266.0 267.8 271.5 173.7 176.7 178.6 1924.2 1930.6 1939.2 626.5 629.4 634.1 1986-JAN. FEB. HAS. 171.9 172*9 173.9 5.9 5.9 6.1 268.9 269.2 273.2 180.5 183.1 185.2 1941.8 1945.6 1952.8 APS. HAT JUNE 174.4 175.8 176.6 6.1 6.1 6.2 275.7 281.6 284.9 189.9 195.1 199.0 1974.8 1989.3 2002.2 Date 1985-JUNB Cvnwicy1 t Strings deposits7 at at Mai commercial Inf Ift banks Institutions 122.1 171.5 293.6 Selected nontransactlons Items Small time deposits1 st at total ITWTM banks Inetltwttone 387.6 bO2.6 890.3 LenM time depoenV at at total commercial tnn»l 19 banks matitutions 267.3 155.4 422-7 122.9 123.7 124.0 173.8 176.0 176.3 296.7 299.7 300.3 386.7 383.4 382.7 501.3 497.5 495.6 888.0 880.9 878.3 264.0 266.9 270.6 154.3 154. 1 155. 1 418.3 421-0 425.6 124.4 124.8 124.5 177.9 179.0 179.1 302.3 303*7 303.6 382.0 382.2 384.1 493.7 493.7 496.2 875.7 876.0 880.3 273.9 276.7 279.1 155.9 156.3 157.3 429.7 432.9 436.5 653.9 663.0 669.1 124.7 125.0 125.6 179.3 179.9 181.2 304.0 304.9 306.9 386.6 388.1 389.0 499.4 502.9 505.7 885.9 891.0 894.7 289.7 291.5 287.1 158.2 159.7 163.4 447.9 451.2 450-5 668.2 656.6 653.6 126.6 129.0 130.9 184.8 189.5 194.1 311.4 318.5 325.0 388.0 384.9 381.8 508.2 506.3 504.1 896.2 891.2 885.9 287.0 281.4 280.8 165.0 164.9 164.6 452.1 446.3 44 5.4 i . ; WEB* ENDING 1986 JUNE JOLT 1/ 2/ 3/ 4/ 5/ 6/ 7/ 8/ 9/ 2 9 16 23 30 176.3 176.5 176.8 176.8 176.7 264.1 286.0 286.1 284.4 283.9 196.7 198.5 199.4 199.0 199.8 129.8 130.4 130.8 131.3 131.3 383.2 382.2 381.8 381.6 381.1 7 14 P 21 P 177.1 177.0 177.5 288.6 287.3 289.3 202.1 202.7 204.7 132.4 132.6 133.9 381.7 381.0 379.9 • 279. 1 279.5 28 1.5 282.0 281.2 280.6 279.9 280.9 CURRBNCT OUTSIDE THE 0.S. TREASURT, FEDERAL RBSERVB BANKS AND IA0JJS OF COMMERCIAL BANKS. EXCLUDES THE ESTIMATED AHOUNT OF IA0LT CASB HELD BT THRIFT INSTITUTIONS TO SEBflCE THEIB OCD LIABILITIES. OUTSTANDING AHOUNT OF U.S. DOLLAR-DENOHINATBD TRAVELERS CHECKS OF NONBANK ISSUERS. TRATSLERS CHECKS ISSUED BI DEPOSITORT INSTITUTIONS ABE UCLODED II DEflABD DEPOSITS. DEMAND DEPOSITS AT COHHBRCIAL BANKS AMD FOREIGN RELATED INSTITUTIONS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE O. S. GOVERNBENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITBUS IN THE PROCESS OF COLLECTION AND FEDERAL RESERVE FLOAT. EICLUDJBS THE BSTIHATED ABO0NT OF DBHAND DEPOSITS HELD AT COHHBRCIAL BANKS BT THRIFT INSTITUTIONS TO SBRIICE THEIR OCD LIABILITIES. CONSISTS OF HOB AND ATS BALANCES AT ALL DEPOSITORT INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND DBSAND DEPOSITS AT THRIFT INSTITUTIONS. OTHER CHECKABLE DEPOSITS SEASONALLT ADJUSTED EQUALS THE DIFFERENCE BETWEEN THE SBASONALLT ADJUSTED SUH OF DBHAND DEPOSITS PLUS OCD AND SEASONALLT ADJUSTED DEMAND DEPOSITS. SUH OF OVERNIGHT RPS AND OVERNIGHT EURODOLLARS, HONET HARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALEB) , HHDAS # ANO SAVINGS AND SHALL TIHE DEPOSITS, LESS THE CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE BSTIHATED AHOUNT OF DEMAND DEPOSITS AND VAULT CASH HELD BT THRIFT INSTITUTIONS TO SERVICE THEIR TIHE AND SAVINGS DEPOSITS LIABILITIES. SUH OF LARGB TIBE DEPOSITS, TERB RPS AND TBRH EURODOLLARS OF IS. S, RESIDENTS, HONET HARKET FUND BALANCES (INSTITUTIONONLT), LESS A CONSOLIDATION ADJUSTHENT THAT RBPRBSENTS THE BSTIHATBD AHOUHT OF OVERNIGHT RPS AND EURODOLLARS HELD BT INSTITOTIOR-ORLT HONET HARKET YUWDS. SAVINGS DEPOSITS EXCLUDE HflDAS. SHALL DENOHXNATION TIHfi DEPOSITS—INCLUDING RETAIL R P S — ABB THOSE ISSUED IB AHOUNTS OF LESS THAN $100,000. ALL INDIVIDUAL RETIREMENT ACCOUNTS (IRA) AND KEOtiH ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS AHE SUaTKACTED FROM SMALL TIHE DEPOSITS. LAEGB DENOMINATION TIHB DEPOSITS ARE THOSE ISSUED IN AHOUMTS OF $100,000* OR HORE, EXCLUDING THOSE BOOKED AT INTERNATIONAL BARKING FACILITIES. LARGB DENOMINATION TIHE DEPOSITS AT COMMERCIAL BANKS LESS THOSE HELD BT ftONET MARKET MUTUAL FUHDS. DEPOSITORT INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS. 10/ H.6 (508) Table 4 COMPONENTS OF LIQUID ASSETS AND DEBT Billions of dollars, seasonally adjusted Date 2/ 3/ 4/ Non-M3 components of L bankers acceptances^ short-term treasury securities1 Debt components^ commercial paper3 federal debt non-federal debt 76,1 76.5 281.9 to. 3 44.5 168.6 165.7 1442.0 1459.3 4814.5 4860.^ JULY AUG. SEPT* 76-7 77.2 78.0 279.2 277.3 280.6 43.7 43.6 43.2 171.6 182.9 187.2 1479.5 1496.7 1506. 6 4910.3 4963.6 5018.8 OCT. MOV. DEC. 78.5 79.0 79.5 280.9 299.5 307.1 43.9 43.1 41.1 192.5 196.4 209.5 1518.0 1549.0 1586.3 5074.0 5131.3 5223.5 1986-JAN. 304. 1 JOS. 9 296.0 42.1 41.6 210.6 209.2 209.5 1608.0 1621.1 MAft. 79-9 80.5 61.1 5305.8 5342.0 5384.1 APS. MAY 81.8 82.6 298.3 310.6 41.0 40.1 203.0 206.7 1638.8 1656.2 5430.6 5473. 3 1985-MAY JUNE 1/ savings bonds CONSISTS OF U . S . TRJSASUfil BILLS AMD COUPONS UXTU REMAINING MATURITIES OF LESS THAN 1 2 MONTHS HELD Bt OTHER THAN DEPOSITORY I N S T I T U T I O N S , FEDERAL HESERVE B A M S , MONEY MARKET MUTUAL FUNDS ADD FOREIGN E N T I T I E S . MBT OF BAMKEHS ACCEPTANCES HELD Bl ACCEPTING BkUKS, F£i)£MAL &JSSEEVE BANKS, FOfi£IGN O F F I C I A I . I N S T I T U T I O N S , THE FEDERAL HOflE LOAN BANK SYSTEM AND MONEY MARKET MUTUAL FUNDS. TOTAL COMMERCIAL PAPEfi L E S S COMMERCIAL PAPEii &XLD Bl MONET MARKET MUTUAL FUNDS. DfeBT DATA ABE ON A MONTHLY AYEbAGE B A S I S , DERIVED BY AVERAGING END-OF-MONTH L&V&LS OF ADJACENT MONTHS, AND HAYE BEEN ADJUSTED TO REMOVE D I S C O N T I N U I T I E S . H.6 (508) Table 5 COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT Billions of dollars, not seasonally adjusted Nontransactions components Other checkable deposits Date Currency1 Travelers checks2 Demand deposits3 at commercial banks4 at thrift institutions9 in M2e total in M3 only' Overnight RPs8 Overnight Eurodollars9 General purpose and broker/dealer money market funds 165.1 5.9 259.4 113.8 48.4 162.2 1888.0 616.3 48.1 12.7 17 5.4 JULY AUG. SEPT. 166.8 167*7 167.6 6.5 6.6 6.2 261.8 260.4 265.0 115.0 117.0 119.0 49.5 50.3 51.3 164.5 167.3 170.3 1901.4 1908.9 1911.9 608.6 615.1 622.7 48.3 49.4 50.2 12.4 14.2 14.0 17 5.8 176.8 176.7 OCT. NOV. DEC 168.4 170.7 173.1 5.9 5.6 5.5 265.6 269.0 281.3 119.8 122.6 125.8 52.5 53.8 54.4 172.3 176.4 180.1 1921.5 1927.4 1934.0 628.2 634.6 6J8-7 50.4 51.9 52.6 14.3 13.9 17.0 177.0 176.8 176.5 1986-JAIL FEB. MAR. 170.5 170.6 172.3 5.5 5.6 5.8 275.1 262.0 267.1 128.1 126.8 129.3 54,3 54.2 56.0 182.4 181.0 185.3 1944.2 1950.7 1962.7 652.9 661.7 667.4 49.2 51.4 50.1 18.8 16.1 16.3 177.7 181.0 186.2 APRMAI JUNE 173.6 175.8 177.4 5.8 5.9 6-5 278.7 276.7 285.6 134.8 132.8 136.6 59.9 60.5 63.0 194.7 193.4 199.6 1977.6 1987.1 2002.0 665.1 658.8 652.2 49.5 49.5 47.0 17.4 17.6 17.0 191.4 193.4 197.7 1985-JOIS WEEK ENDING: 1986-JUMB JULI 9 16 23 30 175.6 178.4 177.7 177.0 176.8 281.6 288.9 288.9 280.3 283.7 134.0 138.7 138.1 135.3 134.5 61.3 64.3 63.8 62.2 61.7 195.3 203.0 201.9 197.5 196.2 52.1 45.9 46.4 46.5 47.7 19.7 16.0 15.7 16.8 18.8 195.7 196.U 198.3 199.1 197.7 7 14 P 21 P 180.8 179.6 179.0 297.2 294.0 289.4 140.3 139.9 138.7 65.9 65.3 64.4 206.2 205.2 203.1 48.2 51.0 52.4 16.2 17.6 18.9 197.4 199.5 201.2 2 • 1/ 2/ 3/ 4/ 5/ 6/ 7/ B/ 9/ C0R1BHCI OUTSIDE TBS U.S. TREASURY, FEDERAL RESERVE BANKS AHO THE VAULTS OF COMMERCIAL BANKS. EXCLUDES THE ESTIMATED AMOUNT OF YAULT CASH HELD BI THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES. OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS OF NOMBANK ISSUERS^ TRAVELERS CHECKS ISSUED BI DEPOSITOR! INSTITUTIONS ARE INCLUD2D IN DEMAND DEPOSITS. DEB AMD DEPOSITS AT COHBERCIAL BANKS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS, LESS CASH ITEMS IN TBS PROCESS OF COLLECTION AND F.R. FLOAT, LESS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS HELD AT COMMERCIAL BANKS BI THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES. CONSISTS OF N08 AND ATS BALANCES AT COMMERCIAL BANKS, U.S. BRANCHES AND AGENCIES OF FOREIGN akHIHS0 AND EDGE ACT CORPORATIONS. CONSISTS OF NOV AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND MUTUAL SAVINGS BANKS, CREDIT UNION SHARE DRAFT BALANCES, AND DEMAND DEPOSITS AT THRIFTS. SUM OF OVERNIGHT RPS AND EURODOLLARS, NONET MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER), HMDAS AND SAVINGS AND SMALL TIME DEPOSITS LESS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS AND VAULT CASH HELD BI THRIFT INSTITUTIONS TO SERVICE THEIR TIME AMD SAVINGS DEPOSIT LIABILITIES. SUM OF LARGE TIME DEPOSITS, TERM RPS AND EURODOLLARS OF U.S. RESIDENTS, NONET MARKET FUND BALANCES (IHSTITUTION-ONLT) , LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT Of OVERNIGHT RPS AND EURODOLLARS HELD BT INSTITUTION-ONLI MONET MARKET MUTUAL FUNDS. CONSISTS OF OVERNIGHT AND CONTINUING CONTRACT RPS ISSUED BT COMMERCIAL BANKS TO OTHER THAN DEPOSITORT INSTITUTIONS AND MONEI MARKET MUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER). ISSUED BT FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE TO U.S. RESIDENTS OTHER THAN DEPOSITORT INSTITUTIONS AND MONET MARKET MUTUAL FUNDS (GENEHAL PURPOSE AND BROKER/DEALER). H.6 (508) Table 5-continued COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT Billions of dollars, not seasonally adjusted Date Money market deposit accounts at at comrpercial thrift total banks institutions deposits * at thrift institutions <Savings at commercial banks total Small (denomination time deposits2 at at total thrift commercia institutions banks Large denomination time deposits3 at at commercial total thrift 4 banks institutions 307.5 170.6 478.1 123.2 172.2 295.4 386.5 499.9 886.3 265.5 154.9 420.4 JDLI AUG. SEPT. 313.2 317.9 321.3 174.0 177.3 178.5 487.2 495.2 499.8 124.4 124.0 123.7 174.6 174.9 175.4 298.9 298.9 299.1 386.5 38S.3 385.1 500.6 497.1 495.4 887.1 882.5 880.5 263.0 267.5 272. 6 153.1 153.9 155.1 416-1 421.4 427.6 OCT. NO?. DEC. 324.3 329.2 332.4 179.8 180.3 179.6 504.1 509.5 512.0 124.6 124.3 123.5 178.3 179.0 178.3 302.9 303.3 301.8 384.8 J84.2 384.8 496.5 496.4 497.6 881.3 880.7 882.5 276.3 278.2 280.9 156.2 157.1 157.8 432.6 435.3 438.7 1986-JAN. FSB. HAH. 336.7 337.0 340.4 179.0 179.4 180.2 515.7 516.3 520.5 123.9 123.6 124.* 178.8 179. 1 181.6 302.7 302.7 306.5 386.5 387.1 387.2 502.6 504.6 504.6 889.1 891.7 891.8 2B8.6 290.4 287.7 159.0 160.7 163.2 447.6 451.0 450.8 APH. 344.8 348.6 355.2 180.4 182.2 185.2 525.2 530.8 540.4 127.2 129.5 132.2 185.7 190.3 194.8 312.9 319.9 327.0 384.5 382.4 380.7 505.4 502.4 501.2 889.9 884.7 881.9 283.6 260. 7 279.1 164.1 164.4 164.1 447.6 445.1 443.2 1985-JOME SAX JONE BEER ENDING 1986 J0M2 2 9 16 23 30 JDLI 7 1* P 21 P 1/ 2/ 3/ 4/ 352.4 354.9 356.0 355.0 355.4 130.6 131.9 132.2 132.3 132.5 381.3 381.1 380.7 380.4 380.3 279.7 278.6 279.3 278.9 279.9 357.5 359.0 359.1 134.6 134. a 135.6 380.6 380.3 379.8 278.7 278.0 280.0 SAfliGS DEPOSITS EXCLUDE HHDAS. SHALL DENOMINATION TIME DEPOSITS — INCLUDING RETAIL RPS — ABE THuSfi ISSUED IN AMOUNTS OF LRSS THAN $100,000. ALL INDIVIDUAL HETIBEHEMT ACCOUNTS (IKA) AND KEOGH ACCOUNTS AT COflflEBCIAL BANKS AND THRIFTS ARE SUBTRACTED FROM SHALL TIHE DEPOSITS. LARGE DENOMINATION TIHE DEPOSITS AfiE THOSE ISSUED IN AMOUNTS OF $100,000 OB HGBE. EXCLUDING THOSE BOOKED AT INTERNATIONAL BANKING FACILITIES (I8FS). LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL WANKS LESS THOS-tf HELD BY MONEY MARKET MUTUAL FUNDS, DEPOSITORY INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS. H.6 (506) Table 5-contlnued COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT Billions of dollars, not seasonally adjusted Term RPs1 Date Institution only money market funds at commercial banks at thrift Institutions total Term Eurodollars1 Savings bonds Non M3 Components of L Short-term Bankers treasury acceptances4 securities3 Components of Debt Commercial paper* Federal debt 9 Non-Federal* debt 67.1 31.4 25.7 57.1 78.2 76.5 279.6 43.9 167.9 1457.9 4841.4 JULI AUG. SEPT. 65.0 63*6 62.3 29.$ 30.4 30.9 25.9 26.7 27.5 55.7 57.1 58.4 77.6 78.8 78.9 76.6 77. 1 78.0 279.9 280.4 281.3 43.5 44.3 43.9 173.1 181.0 187.8 1475.8 1495.8 1506.9 4894.5 4945.7 5003.0 OCT. NOV. DEC. 63.3 64.5 64.6 30.2 31.2 31.6 29.3 31.6 33.9 59.4 62.8 65.5 78.2 78.4 76.7 78.5 79.0 79.6 280.7 295.7 304,3 43.8 43.3 42.1 193.4 199.1 204.6 1515.6 1544.2 1583.7 5062.8 5123.0 5220.2 1986- JAM. FEB. 67.3 67.7 70.2 33.1 35.1 36.3 35.1 34.7 34.3 68.2 69.8 70.6 76.0 79.2 82.7 80.0 80.5 81. 1 303.8 306.8 304.3 42.3 41.9 40.7 207.5 208.8 207.9 1606.7 1621.0 1633.3 5300.5 5323.5 5352.0 74-1 76.1 75.0 34.6 33.6 31.3 34. 1e 34. 1e 33. 9e 68. 7e 67. 7e 65. 2e 81.0 78.3 77.6 81.6 82.6 300.9 304.2 39.9 J9.6 205.2 207.0 1644.6 1660.6 5396.1 5443.2 2 9 16 23 30 76.0 75.4 75.1 74.7 74.3 31.2 30.4 31.1 31.9 7 14 P 21 P 75.4 75.8 78.5 30.2 30.4 29.7 19B5-JUNE HA a. APR. HAT Jans WEEK ENDING! 1986-JUNE JOLI 1/ 2/ 3/ 4/ 5/ 6/ 3%mQ TERM EPS ARE THOSE KITH ORIGINAL MATURITIES GREATER THAN OME DAI, EXCLUDING CONTINUING CONTRACTS AND BETAIL RPS. INCLUDES A RELATIVELY SHALL AMOUNT OF OVERSIGHT RPS AT THRIFT INSTITUTIONS. TEBJI EURODOLLARS ARE THOSE WITH ORIGINAL MATURITIES GREATER THAN ONE DAI. CONSISTS OF THOSE ISSUED TO U.S. RESIDENTS 81 FOREIGN BRANCHES OF O.S. BANKS 8ORLDMIDE AND bl ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA. EXCLUDES THOSE HELD BI DEPOSITORY INSTITUTIONS AND HONBY HARK2T MUTUAL FUNDS. CONSISTS OF U.S. TREASURI BILLS AND COUPONS WITH REMAINING MATURITIES OF LESS THAN 12 MONTHS HELD BI OTHER THAN DEPOSITORY INSTITUTIONS, FEDERAL BESEftVE BANKS, MONEY MARKET MUTUAL FVVDS0 AND FOREIGN ENTITIES. NET OF BANKERS ACCEPTANCES HELD BI ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL HOME LOAN BANK SYSTEM AND MONEY MARKET MUTUAL FUNDS. TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BI MONEY MARKET MUTUAL FUNDS. DEBT DATA ARE ON A MONTHLY AVERAGE BkSlS9 DERIVED BI AVERAGING END-OF-MONTH LEVELS OF ADJACENT MONTHS, AND HAVE BEEU ADJUSTED TO REMOVE DISCONTINUITIES. 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 Time and savings deposits due to foreign commercial banks and foreign official institutions U.S. government deposits demand deposits at commercial banks balances at Federal Reserve Banks note balances at commercial banks and thrift institutions total demand deposits and note and FR balances IRA and Keogh Accounts time and savings deposits at commercial banks commercial banks thrift institutions money market mutual funds total 8.0 2.0 8.3 3.4 2-8 11.4 17.7 1.2 55.9 73.4 8.4 137.7 JULY AUG. SEPT. 8.1 7.8 8.1 1.9 2.0 2.1 8.3 8.2 8.2 3.1 2.8 3.4 4.0 3.0 4.3 20.0 10.6 13.4 27.0 16.4 21.1 1.2 1.3 1.3 56.7 57.4 57.8 75.3 76.8 78.1 8.5 8.4 8^3 140.4 142.6 144.3 OCT. HOT. DEC 8.2 8.1 8.5 1.9 2.1 1.9 8.3 8.4 8.3 3-Q 3-0 3.4 3. 1 2.8 3.4 2.4 4.8 11.1 8.5 10.7 17.9 1.3 1.3 1.4 58.2 58.7 59.2 79.0 79.5 80.9 8.4 8.4 6.3 145.7 146.6 146*4 1966-JAIL FEB. ttAJU 8.6 8.3 8.4 2.0 1.9 1.8 6.0 7.8 7.6 3.6 3.2 3.3 10.5 7.5 3.4 20.5 21.0 12.4 34.5 31.7 19.2 11.3 1.4 1.4 60.7 62.5 64.2 81.9 82.9 66.4 8.6 8.7 9.0 151,2 154,2 159.5 6.7 8.6 8.8 1.9 1.8 1.8 7.5 7.4 7.3 4.2 3.0 3.5 3.7 4.8 2.9 13.6 18.7 12.6 21.5 26.5 18.9 1.5 1.5 1.7 68.4 69.5 70.1 90.1 91.2 91.8e 9.8 9.9e 9.7e 168.2 170.6e 171.6e 2 9 16 23 30 9.1 8.7 8.6 8-9 9.0 1.9 1.6 1.7 1.9 .8 7.3 7.3 7.3 7.3 7.2 2.9 3^2 4.7 3.5 2.6 3.4 2.3 2.$ 3.6 2.6 10.8 4.3 18.6 22.5 17.2 11.1 11.5 25.9 27.8 1.6 1.6 1.7 1.7 1.7 7 14 P 21 P 9.Q 9.4 9.0 2.1 2.1 1.9 7.2 7.2 7.2 5.7 2.6 3.9 3^9 3.7 3.9 12.4 11.6 13.1 21.9 17.9 20.9 1.6 1.6 1.6 1985-JOIE APE. HAI JO ME WEEK 1986 JUHfi JOLT KHDING: estimated 5.6