Full text of H.6 Money Stock Measures : July 6, 1989
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
-voiU&
FEDERAL RESERVE statistical release
H.6 ( 5 0 8 )
Table 1
MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES
JULY
Billions of dollars
Date
Ml1
M2 2
6,
Debt5
M3 J
Seasonally adjusted
1987-JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
741.3
742.8
745.6
747.9
757.3
754.6
752.3
2848.
2856.
2869.
2885.
2902.
2904.
2909.
3579.0
3588.9
3610.1
3630.9
3655.2
3670.3
3677.6
4231.7
4237.4
4262.5
4293.3
4327.5
4337.2
4340.2
7942.2
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.
3914.2
4376.9
4407.2
4437.0
4475.8
4504.2
4521.2
4565.1
4583.6
4591.7
4612.5
4638.4
4674.7
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
786.3
787.4
786.3
783.2
773.4
3065.7
3069.2
3078.7
3081.3
3072.8
3918.7
3928.1
3950.0
3958.0
3954.3
4677.9
4690.1
4723.5
4739.6 p
9107.2
9172.3
9229.4
9283.5 p
Not seasonally adjusted
1987-JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
744.6
747.0
745.2
745.5
754.1
756.5
766.4
2850.0
2863.2
2869.8
2878.9
2899.1
2903.9
2918.7
3578.8
3590.2
3609.9
3628.4
3653.1
3674.8
3688.5
4231.3
4230.8
4257.2
4288.0
4323.5
4344.7
4354.5
7910.7
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
2941.1
2938.3
2962
3001
2990
3015
3031
3030
3028
3038
3057
3077
3710.9
3720.7
3751.4
3786.7
3785.4
3816.7
3840
3852
3858.
3874.
3902.
3924.
4393.1
4403.1
4433.5
4479.1
4492.1
4521.6
4557.1
4578.4
4586.8
4608.5
4646.1
4688.2
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
793.0
772.3
775.1
791.4
767.2
3076.
3056.
3072.
3092,
3063,
3926.2
3916.1
3944.8
3963.6
3944.2
4694.5
4687.0
4720.1
4741.4 p
9091.2
9136.4
9190.2
9246.3 p
Footnotes appear on the following page,
p—indicates preliminary data.
1989
H.6 ( 5 0 8 )
Table 2
MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates
M2
M3
1989
-7.1
0.5
2.7
7.7
1989
-3.4
0.9
2.9
8.3
1989
0.3
2.4
4.2
8.7
3 Months from FEB. 1989 TO MAY
6 Months from NOV. 1988 TO MAY
12 Months from MAY
1988 to MAY
Debt ]
Ml
Thirteen weeks ending JUNE 26, 1989
from thirteen weeks ending:
MAR. 27, 1989 (13 weeks previous)
-5.7
1.3
3.0
DEC. 26, 1988 (26 weeks previous)
-2.8
1.7
3.4
JUNE 27, 1988 (52 weeks previous)
0.5
2.7
4.4
Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely,
January 1989 to April 1989, October 1988 to April 1989, and April 1988 to April 1989, respectively.
Footnotes to Table 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-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 ( 5 0 8 )
Table 3
MONEY STOCK MEASURES
Billions of dollars
Seasonally adjus ted
13-week
average
4-week
average
780.9
782.0
781.2
787.0
3071.8
3073.2
3074.7
3075.8
3079.0
3080.9
3081.4
3082.4
783.0
780.7
778.7
775.0
773.0
781.6
773.0
773.2
772.1
773.6
3076.3
3076.8
3077.3
3077.4
3077.6
773.8
772.9
771.9
770.9
776.1
769.6
768.1
769.7
3077.5
3078.4
3079.1
3080.5
13-week
average
4-week
average
3
10
17
24
786.4
786.1
785.8
785.9
784.8
784.2
782.8
782.8
MAY
1
8
15
22
29
785.5
784.4
783.6
782.3
781.1
JUNE
5
12
19p
26p
779.9
778.8
777.3
776.0
Period emding
1989-APR.
M3
M2
Ml
week
average
week
average
week
average
13-week
average
4-week
average
3081.2
3083.5
3084.4
3080.5
3933.5
3936.6
3939.7
3942.9
3952.3
3956.4
3957.0
3957.9
3952.6
3960.3
3960.4
3958.1
3080.2
3076.8
3073.5
3071.6
3072.6
3072.2
3070.1
3071.0
3072.9
3076.4
3945.5
3948.0
3950.8
3952.0
3953.8
3957.6
3955.1
3954.1
3952.8
3954.2
3951.6
3950.4
3956.1
3953.2
3956.9
3075.2
3079.4
3084.1
3088.6
3080.6
3087.5
3091.7
3094.6
3955.4
3957.5
3959.0
3960.8
3957.5
3961.2
3967.4
3972.7
3963.9
3970.8
3977.8
3978.2
Not seasonally adjusted
M2
Ml
4-week
average
week
average
13-week
average
4-week
average
780.5
796.6
799.4
790.8
3069.2
3069.7
3071.2
3072.5
3074.5
3083.7
3091.8
3097.5
3090.3
3110.3
3106.0
3083.3
3930.6
3933.2
3935.9
3938.5
3949.2
3958.7
3965.2
3967.9
3963.2
3982.2
3974.4
3951.6
791.2
786.2
779.4
771.7
766.2
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
3063.9
3066.3
3065.7
3059.9
3056.8
3941.7
3944.0
3946.3
3948.0
3950.4
3961.4
3951.9
3944.7
3942.2
3943.3
3937.5
3943.9
3945.9
3941.4
3941.9
767.9
770.0
773.7
774.7
783.5
780.2
775.4
759.7
3077.0
3079.0
3080.7
3082.2
3068.4
3076.7
3085.8
3091.6
3091.1
3099.1
3096.1
3080.2
3952.9
3955.9
3958.2
3959.9
3950.4
3959.5
3969.0
3974.2
3972.5
3982.1
3979.3
3962.7
4-week
average
3
10
17
24
779.8
778.0
778.0
778.7
774.6
779.3
785.6
791.8
MAY
1
8
15
22
29
779.7
779.4
779.2
778.4
777.9
JUNE
5
12
19p
26p
777.8
778.0
778.1
777.6
1989-APR.
week
average
13-week
average
13-week
average
Period emding
M3
week
average
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
Nontransact ions
components
Small time deposits 8
Savings deposits7
5
In M3
only6
A*
commercia 1
banks
At
thrift
institutions
Total
263.4
265.4
267.5
2172.2
2190.7
2205.5
771.8
781.8
787.7
179.5
181.3
183.3
237.6
237.5
238.1
417.0
418.8
421.5
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
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
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
2281.7
2292.4
APR.
MAY
215.9
216.4
7.3
7.3
281.5
278.3
278.5
271.4
1
8
15
22
29
216.3
215.8
216.0
216.6
216.9
7.3
7.3
7.3
7.3
7.3
281.6
278.6
279.9
277.3
276.8
5
12
19p
26p
216.7
216.9
217.5
218.3
7.3
7.3 e
7.3 e
7.3 e
277.8
275.4
273.7
274.2
At
thrift
institutions
Total
388.7
393.7
398.1
536.8
548.7
554.7
925.4
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
876.8
881.5
185.6
182.5
227.3
222.4
412.9
404.9
485.6
497.2
597.6
608.9
1083.2
1106.1
276.4
271.4
270.0
270.9
272.6
2290.6
2297.1
2297.8
2300.8
2302.9
879.4
880.4
885.0
880.3
880.5
184.3
183.3
182.6
182.2
181.9
223.9
223.3
222.8
222.1
221.6
408.2
406.6
405.4
404.3
403.5
490.4
493.7
496.5
498.7
499.8
602.0
604.9
607.7
610.4
612.5
1092.4
1098.6
1104.2
1109.1
1112.2
274.3
270.0
269.6
269.9
2304.5
2317.9
2323.7
2324.9
883.4
883.3
886.1
883.6
181.9
181.5
181.6
181.8
221.2
221.0
221.0
220.6
403.1
402.5
402.6
402.3
500.6
501.8
503.1
503.5
614.0
616.7
618.9
618.7
1114.6
1118.5
1122.0
1122.2
Currency *
Travelers
checks2
Demand
deposits3
Other
checkable4
deposits
1988-JAN.
FEB.
MAR.
198.5
199.4
200.7
7.2
7.3
7.2
289.4
288.1
288.4
APR.
MAY
JUNE
202.4
203.4
204.7
7.2
7.3
7.3
JULY
AUG.
SEP.
206.4
207.0
208.6
OCT.
NOV.
DEC.
Date
In M2
At
commercial
banks
Week ending
1989-MAY
JUNE
7.
8.
eP-
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 all depository institutions> credit union share draft balances and demand deposits at thrift institutions.
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.
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.
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,
-indicates estimated data,
-indicates preliminary data.
H.6 (508)
Table ^-continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Large time deposits1
At
1
commercia
banks 2
Date
At
thrift
institutions
Debt components6
Non-M3 components of L
Total
Savings
bonds
Short-term
Treasury
securities3
Bankers
acceptances4
Commercial
paper5
Federal
debt
Non-federal
debt
1988-JAN.
FEB.
MAR.
323.7
328.4
331.0
163.3
163.9
165.3
487.0
492.3
496.3
101.3
102.5
103.4
260.6
256.9
255.2
43.7
41.0
41.1
269.0
274.2
280.3
1963.6
1981.0
2006.2
6391.0
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
264.6
257.7
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
275.0
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
274.0
267.3
271.6
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
392.6
395.7
175.2
176.3
567.7
572.0
112.3 p
273.7 p
41.4 p
354.2 p
2171.8 p
7111.7 p
1
8
15
22
29
393.2
396.3
395.8
395.3
396.1
174.7
176.2
176.3
176.3
176.6
567.9
572.5
572.2
571.6
572.6
5
12
19p
26p
395.2
397.3
398.7
395.8
177.3
177.1
176.6
176.3
572.5
574.4
575.3
572.1
Week ending
1989-MAY
JUNE
1.
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.
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
d iscont inui t ies.
p—indicates preliminary data.
2.
00
Vj<Mjl<£«
W
N H
cro
T D I Q ) H-O) • o_c
-J
3
H-O.
0)
3
C
HH.
O
3
W
OCD
•O
0
W
Hr+0
T
<
a3"
0)
3
O
HT
CO
-j
CD
W
H0_
CO
3
HV>
Hrl-
3
W
H-
H ' O 3 " 0 - W Hr ^ > T ( Q CO 3
C W H-CO "7 W
#•• -4» < »••
r+-2H-mco
0 0
3 0) T
H.
O 3 T O "J 0) H - H 3 •—CO CD CD 3 3 C
3 < WW
O
HCD
H - Q-3"r4-H"7 3 O L ~ - T CD 3 " 0
0 0 CD(0 0) W CD 3
M - 3 3 CD - h
W
0) CD r + - 3 H-0)TJ
)-«< W CO
3 -J 0
>. T C T O - 0 H0-3
0) 0)
0 3"
0) 0) 3 H M O ) CO CD
3 -j O
0)(Q W 1
* - 7 T 3 T J 3 CO W
WCOCDC03
Hr K T l D O O
J
r+T J W H'-hQ)
O 3 3 O - CD
3
C 0) W
WO
0 rH-J (DO)
0 r*rf-CJ
30
>-3"
3"0) CD 0) C L - ^ H O
CD t — H - 3
CD W
-J
0 - 0 . - ^ 0 CO
-K-h
(DOrf
r»-C C 0 " 3 T H.QL
T 3 3T0)CDOC
0) 0 - Q . O 3 M - 3 CD
Q.
3 W
7TQJQ
CD
CTCD
3 0) r+0) T 0 3 0
•o
3» - \CC
D 0O 03- 0-n- CO
0
0) QJO
Q.
W
O
0) W 0)
^-COTJ
fO t - - H ' W Q . 0
HW CD H->* CD W
O
TW
T H.
-j
^ w
Q) Q) H<
H-v Q) 3 H O
3
H-Q. T
HW 2
50<
3W
i • ai 3"crw i+
3 (/>M</»
-j
<
</>
CL
CD C - K Q - H - C
Q.H0 • HH . C O - 3 Wr4-H0-0-0)
• CO 3
w M-h-(o a.0) w ~i
3 0) r+-H«3 CD
•-•</> "J
H-7T0 M
U> H-W -k W 0) Q)
W M « c C >• w ,+•
C H-0 3 3 3-CO
C
r*O
0.
CD
W T 3
0-0 M.3 H.
_ wr*-3"
3 -hCO O - h
2 • -» CD mCD H - T 3 0
O
0) H - C < W O W "J
-J
O OLT
* •-•* Q
M
r+- O 3
0)
HQ.
O"0-Q) O M H < 0
r
; o < o -7 -J
CD 3
H-a H - ^ C D 0"w i
*-co o w 3 3
<
M M H O O
ooo-^ro
0-
§
(A
V)
VIM^NOUI
rororororo
o^cruiUiUi
MMOOVJOO
OXTviWM
rorororo
a^a-a^o^
Ooo^^ro
<MJ1>OUl
rorowvoro
OOOOvlvlvl
MUirovivi
00 03 00 03 03
03 03 03 v l v l
VTIMOvlW
o<roouio
O S O N O 0 3 03
rs) ro ro ro ro
wrorororo
<r^o^sOUri
rv> rs> i\> rs> ro
•Naorooovj
03 03 03 03 03
03 03 03 sO ^0
M0*0-P
HWNO>
O M M v l
Uiroow
0§
3"w
CD •
O
00 00 03 03
03 03 03 03
N W W H
Uivivoo^
N N H O
OOOOvl
wwww
rorsaroro
VIUINOW
rorororo
^Nlno«>
ooowvi
00 03 03 03
03 03 03 03
r^rvororo
ro ro ro ro w
•>!-Nl ">J ">J ^ 1
Vl^J-Nl-Nj
CD CD CO
rororororo
roroM
>orol^OOH
rorororo
o^>ors)Ui
•0T3
N H H
>-C
c
z
m
2
sO
0)
M
NO
c_
T 3
0) W
< *•
CO HHr+CD C
T r+</> H .
-in-
•<
w -j
Sx;
T O
w w
V) O
CD
i-fl.
0) - K
0*0
0 0)
-KC
H
3 H0 W
CD HO 3"
7TCD
to
3
00.
H-CO
"J
0) 0 3
< 0)
CD 3
M * *
(D V)
"J
W 0)
*2
3 70
0) CD
H-W
CO CO
0 . - + O 3 m n - 0 3 3 Q> M
0 1
CD
O rt-C (0 0 - 0 O M
M»<
Q) C T T H . - J T O CD CD O"
0)
M « CD 3 0 3 M W W H-Q)
-> - n
CO COT C O . M
3 3
I CD
T • Q_3
\ H -M
0 "JOO)
Q) W 7T 0 - Q .
w
0 " J 0)
H-H-rf-W
0~CD(0 M(/> W
HCD CD
0) 0)
Q> >. r+-0 H-Q)
3 "J
3 H 0 1 I U
3"0 C 3
0 0)
3 H
\ o
^•H<Q
W C 0 3 C C 0 0 3 C D 3 C C
0 0 C D W 3 3 0 3 3 3 3 Q - 3 0H--?
0) Q> 3 C Q.W C
</> W
0) »—(/> - j
^ • ^ - ( 0 (0 W H - 3 O O H . H . - K 3 C H-(0
IDI01Q.
W r t - - h - h V ) V) 0 Q.Q.0) 3
W W 0)
—Hr4-r+--J
0 3 0
M O T Q W 0 H O W </> (0 Q . Q - 0 J <
"U CO
< CD
-hQ) <
H.(0 H .
2 WO
3 0
1 CD 0 0 ( 0 * 0 M - 3 0
CD H - C -hCD - * 0 ( Q 1 - h - K 3 0 31Q C
H - H . - J 0 "J
< CD 3
w
HH.3T3-Jfl)0(D
M.ZZO"H-QU)W
3 0) 0 CD M < "i r K Q O O Q » r+-CD 3 H H.H-V) H .
( D 3 H . J Z I 3 « 3 0 a
3 CD CD(Q"0 T H - 3 r h
7T 0) C CD
0) 0 .
3 C 3 ( 0 CD
0) 0) W 0) 3 3
T
Q)
~z H-T
703 3
H-0_r*C
< 0 . 3 0 1 3 1 0 H-Q.-aD.QLO)
QlflLTO J
COW
3 0 0 . 0 10
Q.H0) W H-73T3
>>Q_OC0-h0) 0) 0 " 3 CD
"DO Q) -{-{
3*0
H» T O
0) </> O 3 C / ) ( / ) 0 3 0 C H
0)
0 3"Q) 3
H-Q.
-KCD W • "J
TTQ 3 Q_Q> H0~0~-h-J H-C/XO
CD W Q .
3 W m f l ) Q> H - O r M Q)
T
O Q_<* C M H O H - W
(A
aa^M-Koa) w w n n u a n . o n
3 3
v ro
(n
3
CD
3
Q.
Z
CD
CD
7T
03-Niiri
^ w
vororo
NOMUI
WMO^
rororo
Ui^*»
<T>vJM
roro
Uio^
sOO
vO v j O
rowui
<JN <J\ <J\
vl-PW
rosoo
0003 00
vJUlUl
vi-Pro
o-Pso
"O00 00
rororo
rororo
WO^M
vlvjOO
OOvlW
rororo
03-PU1
03 03 00
m u i vj
Vl^
vOUl
OHJl
v l >0
OOvJ
o o
00 00
00 v j
MVn
NOO
0>M
roro
row
roo
roro
v l 00
OUl
03 03
^00
vOvO>0
vOvjvl
0
4>a^oo
viUi-P
UI 0 s 0 s
sOM-P
M^VI
vivivi
00039^
sOrOv©
voroo*'
viooo
rOMM
OxO v|
rororo
oooa^ soOooo oooro
rororo
wwro
^ M U l
^^w
OOMUl
rororo
roww
roroui O o ^ * '
vivjui
viroro
0s 0s 0s
W W O
rowjN
OOvlvl
OsOOO
MUlUl
rororo
rororo
wroro
Uiuiro
o^uiw
wooui
vj^vj
crroui
0
rororo
s
s
V|V|V|
Uiooo
^
U l ^ ^
00 03 03
ro O M
N O W
03 03 03
^ro^
sO M v©
V|V|NO
vOvoui
rororo
sOOoo*
0s 0s 0s
M M O
rororo
O^vlW
00 03 00
vl UI vl
O*>Mr0
03 03 sO
VIUIM
WMM
Mwro
vO03sO
rororo
o^}-*^
V l v j <T
VIO^O^
O O O
ITWH
MOvO
rororo
wwro
rororo
www
oo
oo
3-ncL
> m >
33CDZ
. . .
rororo H M M
L 2 >
0 " 0
"Z.<70
m •
sOvJM
-PUiUi
vioo^
•POvO
< T M O
ro**ro
MVjiro
000303
WrOO
OMvO
vjiroo*
^^^
vlOO*^
rororo
rororo
oorovj
rororo
vivivi
vivivi
M-PvO
03 00 00
030303
vlOOvl
www
SOO^M
*>ro ro
<jv <J\ <Js
sX>-PUi
000000
•P-PLM
O^^O^
ro^o*Ooo^w
vl<M71
rororo
rororo
vivOsO
03 v l v l
rororo
VIO^O
000000
030303
O W O
M-P
03 03 00
vooooo
*»OM
OOOvl
sO sO 03
UIMNO
visow
03O00
0303vO
v l 03 00
O^vlvl
rororo
OsOO
vOWO
vO>003
O O O
OOvlOO
rororo
rororo
M M O
•PMsO
</>>C
m c c
T30r"
-<
rororo
OZO
moo
0 < H
03 sO
inrow
rororo
>J-«»JNO
vl03
O M O
is>rv>rs3
SJOOZ
2-nC-
I
05
rv>ro
M O
roro
-<73
2 >
H.6 (508)
Table 5-continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars> not seasonally adjusted
At
At
thrift
commercial
institutions
banks
Date
Total
Small-denomination time deposits2
Sav i ngs depos its 1
Money market deposit accounts
At
At
commercia,1 m thrift
institutions
banks
Total
At
At
commercial
thrift
banks
institutions
Total
Large-denomination time deposits 3
At _
At
commercial
thrift
4
banks
institutions
Total
1988-JAN.
FEB.
MAR.
359.5
359.8
361.5
165.5
163.8
164.0
525.0
523.6
525.5
178.1
179.4
182.5
234.4
233.8
236.7
412.5
413.2
419.2
390.2
395.0
398.7
540.3
552.2
557.0
930.5
947.1
955.8
323.6
328.2
332.5
164.3
164.7
165.2
487.9
492.9
497.8
APR.
MAY
JUNE
361.0
357.8
360.7
163.3
162.7
162.5
524.2
520.5
523.2
185.0
187.1
189.6
239.4
240.6
242.7
424.5
427.7
432.3
401.4
403.3
407.6
560.8
561.8
562.9
962.2
965.1
970.5
330.1
333.2
338.2
166.0
167.3
166.6
496.1
500.5
504.8
JULY
AUG.
SEP.
360.3
357.7
354.5
161.6
160.0
157.0
522.0
517.7
511.4
191.5
191.0
189.8
244.5
242.8
241.1
436.0
433.7
430.9
412.5
417.2
424.2
566.8
568.8
572.7
979.4
986.0
996.9
342.9
351.3
357.0
166.5
167.9
172.2
509.5
519.2
529.1
OCT.
NOV.
DEC.
353.0
354.1
352.5
154.5
152.6
150.3
507.5
506.7
502.7
190.2
192.2
190.3
240.7
238.2
235.6
430.9
430.4
425.9
431.3
437.7
444.1
579.3
581.8
582.4
1010.6
1019.5
1026.5
360.8
362.3
365.6
174.7
174.9
174.0
535.4
537.3
539.6
1989-JAN.
FEB.
MAR.
348.3
342.5
340.1
146.8
142.9
140.2
495.2
485.3
480.3
189.3
188.2
187.8
233.6
230.5
230.7
422.8
418.7
418.5
453.0
462.8
473.0
588.5
591.6
592.0
1041.6
1054.4
1065.0
370.3
378.1
387.0
174.9
174.3
173.2
545.2
552.4
560.2
APR.
MAY
336.3
327.1
135.0
129.9
471.3
457.0
186.2
183.7
227.9
223.8
414.1
407.4
483.6
493.5
598.5
605.8
1082.1
1099.2
390.5
394.4
173.7
175.2
564.1
569.7
1
8
15
22
29
329.3
327.5
327.5
326.8
326.1
131.
130.
130.
129.
129.
460.
458.
457.
456.
455.
184.1
184.1
183.8
183.6
183.2
224.2
224.8
224.5
223.5
222.5
408.
408.
408.
407.
405.
487.
490.
492.
494.
496.
601.
603.
604.
606,
608.
1088.
1093.
1097.
1101.
1104.
390.
393.
393.
394.
397.
174.
175.
175.
174.
175.
564.
568.
569.
569.
572.
5
12
19p
26p
328.4
329.9
328.1
326.2
129,
129.
128.
127.
458.
459,
456.
454.
183.7
183.8
183.3
183.1
223.8
224.2
223.6
222.4
407.
408.
406.
405.
497.
499.
500.
501.
609.
612.
614.
614.
1107.
1111.
1114.
1116.
394.8
395.9
395.9
394.6
175.
175.
174.
174.
570.
571.
570.
568.
Week ending
1989-MAY
JUNE
1.
2.
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.
3.
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
banks
institutions
market funds
Date
Debt components6
Non-M3 Components of L
Total
Term
Eurodollars2
Savings
bonds
Short-term
Treasury ^
securities"1
Bankers
acceptances4
Commercial
paper5
Federal
debt
Non-Federal
debt
1988-JAN.
FEB.
MAR.
94.4
98.7
97.4
38.7
43.6
43.9
71.2
70.5
68.1
109.9
114.2
112.0
86.2
86.9
91.1
101.7
102.7
103.6
264.7
262.9
257.5
43.4
41.0
40.4
272.5
275.8
280.5
1962.9
1975.7
1994.5
6374.3
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
262.0
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
281.5
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
278.5
273.9
273.7
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
87.7
91.6
43.5
42.7
83.6
84.9
127.0
127.6
101.8
101.4
112.4 p
273.7 p
41.0 p
350.8 p
2155.1 p
7091.3 p
1
8
15
22
29
87.9
89.3
90.6
93.1
93.3
43.2
41.5
43.2
42.8
43.3
84.3
84.8
84.6
84.8
85.1
127.5
126.3
127.8
127.6
128.4
102.1
102.0
102.0
100.9
101.0
5
12
19p
26p
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
99.6
99.5
99.8
99.3
Neek ending
1989-MAY
JUNE
Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs. Includes a relatively small amount
of overnight RPs at thrift institutions.
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 bankina offices in the United Kingdom and Canada. Excludes those held by depository institutions and money market mutual funds.
Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal
Reserve Banks, money market mutual funds, and foreign entities.
Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market
mutual funds.
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
U.S. government deposits
Time and savings
deposits due to
foreign banks
Foreign
Foreign
official
and official
commercial
institutions
institutions
banks
Date
4.2
4.2
4.2
IRA and Keogh Accounts
Time and
savings
deposits
At
At
at commercial commercial
mercial
thrift
banks
banks
institutions
Demand
deposits at
commercial
banks
Balance
at
Federal
Reserve
NoH:e balances
at depository
ins;titutions
Total
cash
balance
4.1
3.1
3.6
5.6
3.8
2.9
20.8
25.1
18.7
30.5
32.1
25.2
83.9
84.7
85.5
At
money
market
funds
Total
110.0
111.2
113.2
16.6
16.8
17.1
210.6
212.8
215.8
1988-JAN.
FEB.
MAR.
10.1
9.4
9.3
1.7
1.6
1.6
APR.
MAY
JUNE
9.1
9.2
9.6
1.9
1.7
1.8
5.1
7.2
4.1
16.4
27.1
16.7
26.8
37.5
25.0
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
3.9
3.2
7.4
18.6
8.9
20.4
25.
15,
32,
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
6.2
5.2
5.5
24.5
12.8
18.7
34.
21.
28.
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
4.0
3.7
3.8
8.1
5.8
5.2
21.0
22.2
14.3
33.
31.
23.
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
9.0
8.9
1.7
1.7
5.2
3.3
8.9
14.1
15.0
31.0
29.
48.
99.9
101.8
127.3
128.4 e
22.2 e
22.9 e
249.4 e
253.2 e
1
8
15
22
29
9.1
9.0
8.5
8.6
8.9
1.7
1.6
1.7
2.0
1.5
4.1
4.2
4.1
4.2
4.2
5.7
4.1
3.1
3.0
2.6
18.8
23.2
19.9
9.4
5.9
30.6
31.8
31.8
32.3
31.8
55.2
59.1
54.7
44.6
40.3
1.6
1.6
1.6
1.5
1.5
5
12
19p
26p
11.3
10.0
9.0
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
Week ending
1989-MAY
JUNE
e--indicates estimated data.
p--indicates preliminary data.
@FedFRASER