Full text of H.6 Money Stock Measures : July 6, 1995

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES 6

For release at 4:30 p.m. Eastern Time

Billions of dollars

Date

JULY 6, 1 9 9 5

M11

M22

M33

L4

DEBT 5

Seasonally adjusted
1993-JUNE
JULY
AUG.
SB P .
OCT.
NOV.
DEC.

1076.3
1085.2
1095.1
1104.7
1113.5
1122.4
1128.6

3540.2
3543.6
3549.3
3559.1
3564.4
3576.7
3583.6

4204.6
4202.3
4205.5
4214.2
4222.7
4234.4
4242.5

5105.0
5099.8
5112.4
5110.4
5118.9
5131.7
5150.3

12019.7
12074.7
12133.1
12186.6
12222.6
12278.4
12343.8

1994-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1132 .5
1137 .0
1141.1
1142.8
1143 .5
1147 .0
1152.2
1150.8
1151.0
1148.1
1147.5
1147.8

3589.1
3586.2
3597.4
3605.4
3608.5
3605.3
3616.2
3614.2
3613.3
3609.0
3610.3
3615.1

4245.9
4232 .0
4240.6
4250.8
4251.4
4256.6
4273 .8
4272.7
4278.4
4284.6
4290.5
4303.1

5165.4
5162.6
5165.5
5181.9
5190.4
5188.5
5213.3
5214.6
5220.3
5238.7
5247.6
5292.6

12385.9
12434.6
12498.6
12556.0
12612.1
12651.6
12677.0
12740.1
12797.5
12844.5
12913.6
12955.5

1995-JAN.
FEB.
MAR.
APR.
MAY

1148 .8
1147.1
1147.8
1149.6
1142.9

3626.8
3622 .2
3629 .7
3642 .2
3657 .4

4325.8
4334.0
4355.6
4377 .0
4405.6

5319.7
5361.6
5405.8
5450.3 p

13009.0
13088.1
13146.6
13197.5 p

.6
.7
.1
.9
,. 2
.7
,. 3

5093 .4
5087 .3
5 1 0 1 ..3
5092 .6
5 1 1 0 . .2
5 1 5 1 ..2
5 1 8 4 ..9

11974 .9
1 2 0 3 1 .2
12083 .8
12145 .8
1 2 1 8 4 .. 2
1 2 2 5 1 ,.4
1 2 3 3 6 ..0

Not seasonally adjusted

p

1993-JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC .

1072 .2
1083 .6
1088 . 6
1099 .3
1112 . 1
1129.5
1153 .7

3535
3541
3542
3548
3561
3584
3606

1994-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1142 .3
1124.2
1131.4
1152 .7
1132 .5
1142 .3
1150.9
1143.9
1146.1
1147.3
1155.3
1173.5

3595 .6
3 5 7 3 ,. 3
3 5 9 6 ,. 1
3 6 2 2 ,. 6
3595 .6
3 6 0 0 ,.4
3 6 1 5 ..0
3 6 0 6 , .7
3 6 0 2 ,.7
3 6 0 6 ,. 1
3 6 1 8 . ,6
3 6 3 8 . .6

4 2 5 4 .. 8
4 2 2 1 ,.8
4 2 3 8 ..2
4 2 6 4 . .2
4 2 4 0 .. 5
4 2 5 0 . .2
4267 . 5
4 2 6 6 ..3
4 2 6 6 ..0
4 2 7 9 .. 8
4 3 0 4 ..9
4 3 2 9 . .2

5 1 8 7 .. 1
5155 .5
5 1 6 5 .9
5193 .8
5 1 7 0 .2
5177 .1
5 2 0 0 .. 8
5 2 0 3 ..4
5 2 0 1 ..0
5 2 2 9 .. 8
5 2 6 9 . .7
5 3 3 0 ..3

1 2 3 7 8 . .4
1 2 4 0 7 . .7
1 2 4 5 9 ,. 1
1 2 4 9 9 .. 1
1 2 5 4 4 .. 3
1 2 6 0 4 .. 5
1 2 6 3 6 .. 6
1 2 6 9 1 .. 8
1 2 7 5 3 ..8
1 2 8 0 4 ..0
1 2 8 8 4 ..8
1 2 9 4 7 . .2

1995-JAN.
FEB.
MAR.
APR.
MAY

1158.4
1134.2
1138.0
1158.6
1132.0

3 6 3 3 ..2
3 6 0 8 ..5
3 6 2 7 ..7
3 6 5 8 . .6
3 6 4 5 .. 1

4 3 3 5 . .4
4 3 2 2 ..7
4 3 5 1 ..5
4 3 8 8 ..8
4 3 9 5 . ,4

5 3 4 2 . ,7
5 3 5 3 . ,3
5 4 0 5 . .0
5460. 4 p

1 2 9 8 3 . .8
1 3 0 3 5 . .2
1 3 0 9 8 . ,3
1 3 1 3 0 . ,6 p

preliminary




.4
.6
,. 3
.4
.3
.2

,. 1

4198
4195
4200
4201
4217
4246
4266

Page 2
H.6 (508)
Table 2

MONEY STOCK AND DEBT MEASURES

Percent change at seasonally adjusted annual rates
M2

M3

DEBT 1

1 9 9 5 TO MAY

1995

-1.5

3.9

6.6

5.8

6 M o n t h s f r o m NOV. 1 9 9 4 TO MAY

1995

-0.8

2.6

5.4

5.5

1995

-0.1

1.4

3.6

5.1

-0.9

3.9

6.5

o
i

2.7

5.4

1.5

3.6

3 M o n t h s f r o m FEB.

12 M o n t h s f r o m MAY

1 9 9 4 t o MAY

T h i r t e e n w e e k s e n d i n g JUNE 2 6 , 199 5
f r o m t h i r t e e n weeks e n d i n g :
MAR. 2 7 , 1 9 9 5 ( 1 3 w e e k s p r e v i o u s )

1.

M1

DEC. 2 6 ,

1994

(26 weeks p r e v i o u s )

JUNE 2 7 ,

1994

(52 w e e k s p r e v i o u s )

0.1

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, January 1995 to April 1995, October 1994 to April 1995,
a n d April 1994 to April 1995, 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) d e m a n d
deposits at all commercial banks other than t h o s e d u e to depository institutions, the U.S. government, and foreign banks and official institutions, less c a s h items in the
p r o c e s s 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 s h a r e draft accounts and d e m a n d deposits at thrift institutions. Seasonally adjusted M1 is calculated by
summing currency, travelers checks, d e m a n d deposits, and OCDs, e a c h seasonally adjusted separately.
Consists of M1 plus overnight (and continuing contract) RPs issued by all depository institutions and overnight Eurodollars issued to U.S. residents by foreign b r a n c h e s of
U.S. banks worldwide, savings deposits (including money market deposit accounts), small-denomination time deposits (time deposits—including retail RPs—in amounts of
less than $100,000), and b a l a n c e s in both taxable and tax-exempt general purpose and broker/dealer money market mutual funds. Excludes individual retirement account
(IRA) and Keogh b a l a n c e s 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-M1 component a s a whole and then adding this result to seasonally adjusted M1.
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 b r a n c h e s of U.S. banks worldwide and at all banking offices in the United Kingdom and C a n a d a , and b a l a n c e s 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 a s 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 a c c e p t a n c e s , net of money market
mutual fund holdings of t h e s e a s s e t s .
Debt: The debt aggregate is the outstanding credit market debt of the domestic nonfinancial sectors — the federal sector (U.S. government, not including governmentsponsored enterprises or federally related mortgage pools) and the nonfederal sectors (state and local governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate b u s i n e s s e s , and farms). Nonfederal debt consists of mortgages, tax-exempt and corporate bonds, consumer credit, bank loans,
commercial paper, and other loans. The data, which are derived from the Federal Reserve Board's flow of funds accounts, are break-adjusted (that is, discontinuities in
the data have been smoothed into the series) and month-averaged (that is, the data have been derived by averaging adjacent month-end levels). The presentation of the
debt d a t a in this release differ, therefore, from the quarterly flow of funds statistics contained in the Federal Reserve releases Z.7 and Z.1. In t h o s e releases, published
levels of credit market debt are measured on a quarter-end basis and contain discontinuities.




Page 3

H.6 (508)
Table 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjusted

M1
Period ending
1995-APR.

MAY

JUNE

M2

M3

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

3
10
17
24

1148 .2
1148 .2
1148.1
1148.1

1148.2
1148 .9
1148.7
1148.6

1144.7
1150.2
1150.0
1149.6

3626.5
3627.7
3628.2
3629.6

3633 .4
3637.2
3636.8
3638.5

3632 .4
3640.0
3635.2
3646.4

4339.5
4343.8
4347.6
4351.8

4358.8
4363 .3
4367.3
4371.1

4354.5
4367 .0
4376.6
4386.4

1
8
15
22
29

1148.3
1147 .8
1147.5
1147.3
1146.9

1149.8
1148.2
1146.5
1144.8
1142.7

1149.4
1143.6
1143.2
1142.8
1141.2

3631.8
3633.4
3635.6
3638.7
3642.3

3643 . 1
3645.2
3649.3
3652.5
3656.8

3650.7
3648.4
3651.8
3659.2
3667.7

4356.5
4361.4
4366.7
4372 .8
4378.4

4380.
4387.
4393 .
4398.8
4405.1

4392 .3
4395.0
4398.8
4409 . 1
4417.4

5
12
19p
26p

1146,
1146.
1146.
1145,

1142.8
1143.0
1143 .5
1144.3

1144.0
1143.8
1144.9
1144.5

3647.0
3651.9
3656.5
3661.1

3664.2
3673.3
3682.6
3690.5

3678.2
3688.0
3696.4
3699.4

4385.3
4392.8
4400.2
4406.7

4414.
4425 ,
4437 ,
4447.

4430.7
4446.4
4457.1
4455.6

Not seasonally adjusted
1995-APR.

3
10
17
24

1143.4
1141.8
1142.0
1142.5

1137.8
1144.5
1153.6
1160.1

1145.6
1171.0
1174.2
1149.6

3624.2
3624.9
3626.6
3628.7

3632.1
3644.5
3654.7
3661.1

3646.3
3680.6
3671.8
3645.5

4338.2
4341.9
4346.2
4350.3

4355.2
4366.6
4380.5
4388.4

4360.1
4401.5
4410.8
4381.1

MAY

1
8
15
22
29

1143 .7
1143.4
1143.5
1143.2
1142.8

1158.0
1151.3
1142.4
1136.4
1131.3

1137
1144.
1138.
1125,
1117.

3631.9
3633.8
3636.4
3639.2
3642.8

3657.6
3648.7
3642.3
3641.3
3643.7

3632.6
3645.0
3646.2
3641.5
3642.0

4355.1
4360.1
4365.4
4371.4
4377.3

4391.0
4388.4
4384.2
4387.4
4394.4

4370.4
4391.1
4394.1
4394.0
4398.4

JUNE

5
12
19p
26p

1143
1143
1143 ,
1143.2

1133.2
1135.7
1139.3
1139.6

1151.6
1148.7
1139.9
1118.3

3648.0
3653.5
3658.0
3661.5

3654.9
3669.0
3681.1
3687.1

3690,
3702.
3689.
3665.8

4385.1
4393.4
4400.7
4405.9

4407.6
4425.1
4439.1
4443.7

4443.7
4464.4
4450.0
4416.7

Note. Special caution should be taken in interpreting week-to-week c h a n g e s in money supply data, which are highly volatile and subject to revision,
p

preliminary data.




Page 4
H.6 (508)
Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Other checkable deposits
Currency1

Date

7.

At commercial
banks 4

At thrift
institutions5

Total

In M26

In M3 only 7

8.0
8.0
8.0

386 . 9
388 . 6
388 . 6

300.3
299.0
299.7

112.0
112 .6
112.8

412.3
411.6
412.5

2456.7
2449.1
2456.3

656.8
645.8
643.2

APR.
MAY
JUNE

334.5
337.3
340.0

8.1
8.1
8.2

388.1
385.6
386.3

299.1
300.5
301.0

112.9
112.0
111.5

412.0
412.4
412.5

2462.6
2465.0
2458.3

645.4
643.0
651.3

JULY
AUG.
SEP.

342.8
345.1
347.2

8.3
8.3
8.4

388
386,
386

301.7
301.0
300.0

111.4
109.7
108.9

413.1
410.8
408.9

2464.0
2463.4
2462.3

657
658
665

OCT.
NOV.
DEC.

350.0
353.0
354.5

8.3
8.4
8.4

384
382 ,
382

298.0
297.7
297.6

107.5
106.1
105.3

405.4
403.8
402.9

2460.9
2462.8
2467.2

675,

1995-JAN.
FEB.
MAR.

357.7
358.8
362.5

8.4
8.4
8.8

383 ,
384
383 ,

295.1
291.8
289.3

104.2
104.1
104.0

399.3
395.9
393.3

2477,
2475,
2481.8

699.0
711.8
725.9

APR.
MAY

365.7
368.1

9.2
9.2

381
380,

289.6
281.9

103.9
103.1

393 . 6
385.0

2492,
2514,

734.8
748.2

367.4
367.1
368.3
368.6
368.5

9.2
9.2
9.2
9.2
9.2

379.0
378.4
379.8
380.7
382 . 3

288,
284
283 ,
281,
278,

105.8
103.9
102.0
102.4
103.2

393 . 8
388.9
386.0
384.2
381.2

2501.3
2504.9
2508.6
2516.4
2526.5

741.7
746.6
747.0
749.9
749.7

368
367
367
367

9.1
9.1 e
9.1 e
9.1 e

385.9
387.1
388.0
386.8

276,
276,
276,
276,

104.8
103.9
103.6
104.4

380,
380,
380,
380.8

2534.2
2544.1
2551.5
2554.9

752.5
758.4
760.7
756.1

5
12
19p
26p

680,
688,

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated travelers c h e c k s of nonbank issuers. Travelers checks issued by depository institutions are included in d e m a n d deposits.
Demand deposits at commercial b a n k s and foreign-related institutions other than t h o s e d u e to depository institutions, the U.S. government and foreign banks and official
institutions, less c a s h items in the p r o c e s s of collection and Federal R e s e r v e float.
Consists of NOW and ATS balances at commercial banks, U.S. b r a n c h e s and agencies of foreign banks, and Edge Act corporations.
Consists of NOW and ATS b a l a n c e s at thrifts, credit union s h a r e draft balances, and demand deposits at thrifts.
Sum of overnight RPs and Eurodollars, money market fund b a l a n c e s (general purpose and broker/dealer), savings deposits (including money market deposit accounts)
and small time deposits. This sum is seasonally adjusted a s a whole.
Sum of large time deposits, term R P s and Eurodollars of U.S. residents, money market fund b a l a n c e s (institution-only), less the estimated amount of overnight R P s and
Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted a s a whole.

estimated
Digitized for e
FRASER


#

Nontransactions components

325.4
328 . 9
332 . 0

JUNE

4.
5.
6.

Demand deposits 3

1994-JAN.
FEB.
MAR.

Week e n d i n g
1995-MAY
1
8
15
22
29

1.
2.
3.

Travelers checks 2

#

p

#

preliminary

#

#

#

#

#

#

#

#

Page 5
H 6(508)
Table 4 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Small-denomination time deposits 2

Savings deposits 1
Date

1221.1
1221.9
1222.0

At
thrift
institutions
313 . 8
310.5
308.9

431.1
430.2
426.8

1220.0
1214.8
1206.8

462.3
464.6
467.4

307 . 9
306.2
305.5

770.
770,
772,

370.5
373 . 5
370.7

183.1
177.5
177.9

268.0
272 . 0
274.0

61.8
60.4
61.0

329.8
332.4
335.0

778.0
775.7
772.8

423
417 ,
410 ,

1201.2
1192.6
1183.7

469.9
476.0
481.2

306.1
306.2
307.8

776.0
782.2
789.0

376.1
377.0
377.4

178.7
177.4
176.3

276.3
279.8
284.6

61.9
61.7
62.7

338.2
341.5
347.3

OCT.
NOV.
DEC.

765.4
759.2
752.3

405,
398,
391,

1171.0
1157.8
1144.2

487.7
494.0
502.4

311.3
315.8
317.3

799.0
809.8
819.8

379.5
383.3
389.0

180.8
180.5
180.8

289.3
293 . 8
298.3

63.7
63.9
64.3

353.0
357.7
362.7

1995-JAN.
FEB.
MAR.

744.1
734.2
723.3

385.6
377.6
371.5

1129.8
1111.9
1094.9

512.4
524.0
537.6

322 ,
330,
340,

835.1
854.9
877.7

392 ,
391,
390,

186,
180,
189,

296.9
303 . 8
308.3

66.1
67.6
69.5

363.0
371.4
377.8

APR.
MAY

716.0
717.3

366.4
364.2

1082.5
1081.5

547.9
555.8

348,
354.

896.2
909.8

396.
405.

192 . 9
194.8

308.1
314.6

70.6
69.8

378.8
384.3

712.7
715.5
715.7
716.7
721.1

365.9
365.1
364.2
364.2
363.6

1078.6
1080.6
1079.9
1080.9
1084.7

551.1
553.4
555.2
556.6
557.7

351.1
352 . 4
353.9
354.6
355.1

902.2
905.8
909.0
911.2
912.8

396.8
400.1
401.4
407.3
410.6

193 . 1
192.2
192.2
194.7
198.8

313.5
313.4
315.8
315.3
313.7

70.5
69.8
70.0
69.8
69.4

383.9
383.2
385.7
385.1
383.1

725.
729.
729.
728.

363.1
362.7
363.4
363.5

1088.8
1091.7
1092.6
1091.8

559.
561.
563 .
563.8

355
355,
354,
354,

914,
916,
917,
918,

415.5
423.0
426.2
429.9

199.7
205.6
206.5
206.6

317.6
317.7
317.7
316.1

69.7
69.6
70.0
70.5

387.3
387.3
387.7
386.6

At
thrift
institutions
429.8
429.1
430.S

APR.
MAY
JUNE

788.9
784.6
780.0

JULY
AUG.
SEP.

Week e n d i n g
1995-MAY
1
8
15
22
29
JUNE

3.
4.
p

3

Large-denomination time deposits
Institutiononly money — s r ™ 7
At
market funds
commercial
thrift
Total
4
banks
institutions
335.1
61.7
194.6
273.4
331.8
270.1
61.7
182.1
330.3
268.8
61.4
183.8

commercial
banks
465.7
464.5
463.1

At
commercial
banks
791.3
792.7
791.5

1994-JAN.
FEB.
MAR.

1.
2.

General
purpose and
broker/
dealer
money
market funds
361.2
359.5
361.9

5
12
19P
26p

S a v i n g s d e p o s i t s include
Small-denomination time
a n d thrifts a r e s u b t r a c t e d
Large-denomination time
Large-denomination time
official institutions.
preliminary




Total

Total
779.5
775.0
772.0

money market deposit accounts.
d e p o s i t s — i n c l u d i n g retail R P s — a r e t h o s e i s s u e d in a m o u n t s of l e s s t h a n $ 1 0 0 , 0 0 0 . All IRA a n d K e o g h a c c o u n t b a l a n c e s at c o m m e r c i a l b a n k s
from small time deposits.
d e p o s i t s a r e t h o s e i s s u e d in a m o u n t s of $ 1 0 0 , 0 0 0 or m o r e , e x c l u d i n g t h o s e b o o k e d at i n t e r n a t i o n a l b a n k i n g facilities.
d e p o s i t s at c o m m e r c i a l b a n k s l e s s t h o s e held by m o n e y m a r k e t m u t u a l f u n d s , d e p o s i t o r y institutions, U . S . g o v e r n m e n t , a n d f o r e i g n b a n k s a n d

H.6(508)
Table 4 - continued

Page 6

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Non-M3 Components of L
Savings bonds
1994-JAN
MAR.
APR.

Commercial paper

Federal debt

Non-Federal debt

14.8

391.4
401.2
390.8

14.0

387 . 1
392 . 6

3390.6
3402.5
3416.3

9165.4
9209.6
9235.2

344.7

9047 . 7
9079.5
9119.0

JUNE

355.3
359.1

JULY
AUG.
SEP.

177.7
178.5
179.1

358.1
364.2
359.1

10.9
11.4
11.9

392.8
387.7
391.7

3419.3
3436.8
3454.1

OCT.
NOV.
DEC.

9257.7
9303.3
9343.4

179.5
179.9
180.3

358.5
362.2
372.6

11.8
11.0
10.2

404.2
404.0
426.5

3469.6
3494.1
3497.4

9374.9
9419.6
9458.1

1995-JAN.
FEB.
MAR.

180.5
180.4
180.5

375.0
391.6
405.2

9.8
9.9
10.4

428.7
445.7
454.1

3504.7
3535.8
3557.5

9504.4
9552 . 3
9589.1

180.9

406.8

10.3

475.2

3559.5

9638.0

S t ' m l a f l u n d y S

p

Debt components

Bankers acceptances 2

174.8
175.7
176.7

APR. p

2.
3.
4.

172 . 5
173.2
173.9

Short-term Treasury
securities
340.8

10.8

less lhan

12 m[

""hs

°"
e

held b

>

i d a l inS,iMk,nS

institutions. Federal R e s , „ e Banks, money
'

F e d e r a l

L

° a " = a ^ s . and money market m u , u „ funds,

a t a a r e o n a m o n t h l y a v e r a g e b a s i s , d e r i v e d by a v e r a g i n g a d j a c e n t e n d - o f - m o n t h levels, a n d h a v e b e e n a d j u s t e d to r e m o v e d i s c o n t i n u i t i e s .

preliminary




H.6(508)
Table 5

Page 7

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Currency1

Date

Travelers
checks 2

Demand
deposits 3

Other checkable deposits

Nontransactions components

At commercial
banks 4

At thrift
institutions5

Total

In M26

In M3 only 7

Cwmij#,,

Overnight
Eurodollars*

i - JAN.
FEB.
MAR.

324 . 0
327 . 3
330 . 6

7 .7
7 .7
7 .8

392 . 0
379 . 5
379 . 6

306 . 6
299 . 6
301 .6

112 . 1
110 . 3
112 . 0

418 . 6
409 . 8
413 . 5

2453.4
2449.1
2464.7

659 . 2
648 . 5
642 . 1

75.9
73.7
77.0

22.1
21.2
23.0

APR.
MAY
JUNE

334 . 3
337 .2
340 . 5

7 .8
7 .9
8 .3

389 .2
377 .7
382 .3

306 .4
298 . 1
299 .5

115 . 0
1 1 1 .6
1 1 1 .7

421 .4
409 .7
4 1 1 .2

2469 . 9
2463 . 1
2458 . 1

641 .6
644 . 9
649, . 8

77.6
78.5
80.7

21.3
24.1
26.2

JULY
AUG.
SEP.

3 4 4 . .7
3 4 5 . .7
347 . 0

8,,8
8. ,9
8. 8

3 8 7 . .3
383 ., 1
3 8 4 . ,7

2 9 8 . .4
297. 2
297. 4

1 1 1 . ,6
1 0 9 . ,0
108. 3

410.0
406.2
405.6

2 4 6 4 ,. 1
2 4 6 2 . .8
2456. 6

6 5 2 .. 5
6 5 9 . ,6
6 6 3 . ,3

80.5
82.0
83.7

29.1
28.9
28.1

OCT.
NOV.
DEC.

349. 6
353 . 2
357. 6

8. 5
8. 2
8. 1

387 . 8
390. 7
400. 1

294. 1
296. 0
300. 6

107. 4
107. 1
107. 0

401. 4
403 . 1
407. 6

2458. 8
2463. 4
2465. 1

673. 7
686. 3
690. 5

83.5
83.0
84.2

30.3
30.1
32.5

1995-JAN.
FEB.
MAR.

355.9
357.1
361.4

8.1
8.1
8.4

388.7
374.9
374.0

301.3
292.3
291.1

104.4
101.8
103.0

405.7
394.1
394.2

2474.8
2474.4
2489.7

702.1
714.2
723 . 8

87.0
86.1
86.8

36.4
31.6
30.7

APR.
MAY

365.5
367 . 8

8.8
8.9

382.0
372.8

296.6
279.7

105.7
102.6

402.3
382.3

2500.0
2513.1

730.2
750.3

84.6
84.9

30.1
30.0

364.8
368.8
368 .2
367.6
367.8

8.8
8.9
8.9
9.0
9.0

374.1
374.1
376.2
369.8
367.7

286.5
286.8
282.4
278
272,

103.0
105.6
102.7
101.1
100.3

389.5
392 . 4
385.1
379.2
372.6

2495.3
2500.9
2507.7
2516.0
2524.9

737.8
746.1
747.9
752.5
756.3

87.4
83.7
86.4
84.8
84.3

32.6
28.3
28.4
30.0
32.8

369
369,
367 .
366.

9.1
9.2 e
9.3 e
9.4 e

387
385
382,
372,

279.
278.
276.
268.

107.1
106.0
103.8
100.8

386.4
384.4
379.9
369.6

2538.4
2553.8
2549.9
2547.4

753.6
761.9
760.1
751.0

84.4
84.9
84.5
85.4

30.8
30.1
29.1
29.5

Week e n d i n g
1995-MAY
1
8
15
22
29
JUNE

5
12
19p
26p

3.
4.
5.
6.
7.

m
ba anC6S
mUarke,0mu?u0al
°"ey ^
'
< insti tution-only), less the estimated amount of overnight RPs and
8.
C ntraCt R P s iS8Ued by a
brXr/deale0r)emi 1
°
" d e p o s i t o r y institutions to other than depository institutions and money market mutual funds (general purpose and

9.
http://fraser.stlouisfed.org/
Issued by foreign branches of U.S. banks worldwide to U.S. residents other than depository institutions and money market mutual funds (general purpose and broker/dealer).
Federal Reserve Bank of St. Louis

Page 8

H.6 (508)
Table 5 - continued

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

1213.5
1214.9
1222.7

commercial
banks
466.2
464.6
462.9

At
thrift
institutions
314.1
310.6
308.8

780.2
775.2
771.6

General
purpose and
broker/
dealer
money
market funds
361.6
364.1
370.3

432.3
430.6
428.1

1223.4
1215.9
1210.4

461.8
463 . 7
467.0

307.5
305.5
305.2

769.3
769.2
772.1

780.0
777.0
772.7

424.3
417.7
410.8

1204.3
1194.6
1183.6

470.5
476.5
481.7

306.5
306.5
308.2

OCT.
NOV.
DEC.

765.5
761.4
751.1

405.7
399.7
391.2

1171
1142 ,

488.3
493.7
502.0

1995-JAN.
FEB.
MAR.

739.5
729.8
723.4

383.2
375.3
371.6

1122.7
1105.1
1094 . 9

717
717 ,

367.3
364.5

708
715
717 ,
717 ,
720,
729.8
734.8
730.7
726.6

Savings deposits 1
Date

At
commercial
banks
786.3
788.2
791.9

At
thrift
institutions
427.1
426.7
430.8

APR.
MAY
JUNE

791.1
785.3
782.3

JULY
AUG.
SEP.

1994-JAN.
FEB.
MAR.

APR.
MAY

Week e n d i n g
1995-MAY
1
8
15
22
29
JUNE

1.
2.
3.
4.
p

5
12
19p
26p

Small-denomination time deposits 2

Institutiononly money
market funds

Large-denomination time deposits 3

200.5
191.0
185.7

At
commercial
banks 4
271.9
268.8
267.3

378.3
375.4
368.7

181.8
176.8
172.5

266.3
274.1
275.3

61.4
60.9
61.3

327.7
335.0
336.6

776.9
783.1
789.9

373 . 4
374.2
371.3

173.8
176.2
172.6

275.3
281.1
285.7

61.7
61.9
62.9

337.0
343.1
348.7

311.7
315.7
317.1

800.0
809.3
819.1

373.9
379.9
387.1

178.1
182.5
183.1

289.9
295.2
298.0

63.8
64.2
64.3

353.7
359.5
362.3

512
524
537 ,

323.0
331.0
340.0

835.9
855.1
877.3

392.8
396.3
399.8

192.4
188.8
190.8

295.5
302 . 3
306.2

65.8
67.2
69.1

361.3
369.5
375.3

1085.2
1082.4

547 ,
554,

347.9
353 . 3

895.2
908.0

404.8
407.8

191.3
193.8

306,
317,

70.1
70.3

376.2
387.3

363.9
365.2
365.1
364.4
363.4

1072.5
1080.9
1082.6
1081.4
1084.0

550.3
552.5
554.1
555.4
556.6

350.6
351.8
353.2
353 . 9
354.4

900.9
904.2
907 ,
909
911

402.0
403.7
403.1
410.4
412.8

191.4
191.0
191.3
196.2
196.7

312.7
314.3
317.4
317.6
318.9

70.3
70.0
70.3
70.3
70.5

383.0
384.3
387.8
387.9
389.4

365.2
365.6
364.2
362.7

1095.0
1100.3
1094.9
1089.3

558.3
560 . 5
562.7
563 . 5

354.6
354.6
353.8
354.1

912 ,
915,
916,
917 ,

415.3
423.5
424.9
425.6

195.1
200.7
200.6
198.7

321.2
321.5
319.5
315.7

70.5
70.4
70.4
70.4

391.7
392.0
389.9
386.2

Total

1161,

Total

At
thrift
institutions
61.3
61.4
61.1

S a v i n g s d e p o s i t s include m o n e y market deposit a c c o u n t s .
S m a l l - d e n o m i n a t i o n t i m e d e p o s i t s — i n c l u d i n g retail R P s — a r e t h o s e i s s u e d in a m o u n t s of l e s s t h a n $ 1 0 0 , 0 0 0 . All IRA a n d K e o g h a c c o u n t b a l a n c e s at c o m m e r cial b a n k s a n d thrifts a r e s u b t r a c t e d f r o m small t i m e d e p o s i t s .
L a r g e - d e n o m i n a t i o n t i m e d e p o s i t s a r e t h o s e i s s u e d in a m o u n t s of $ 1 0 0 , 0 0 0 or m o r e , excluding t h o s e b o o k e d at i n t e r n a t i o n a l b a n k i n g facilities.
L a r g e - d e n o m i n a t i o n t i m e d e p o s i t s at c o m m e r c i a l b a n k s l e s s t h o s e h e l d by m o n e y m a r k e t m u t u a l f u n d s , d e p o s i t o r y institutions, U . S . g o v e r n m e n t , a n d f o r e i g n
b a n k s a n d official institutions.
preliminary




Total
333.2
330.2
328.4

Page 9
H 6(508)
Table 5 • continued

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

At commercial
banks

At thrift
institutions

Total

Term
Eurodollars2

1994-JAN.
FEB.
MAR.

67 . 0
64.8
68.3

26.5
27 . 3
27 . 0

93.5
92 . 1
95.4

45.5
47.9
46.2

172.6
173.7
174.6

APR.
MAY
JUNE

71.4
69.1
72.1

27.4
28.8
30.3

98.8
97.8
102.4

46.5
47.7
50.3

175.4
176.2
176.9

353.1
357.2
348.6

JULY
AUG.
SEP.

71.0
68.4
68.4

32.0
32.8
33.4

103,
101,
101,

51.0
51.2
52.1

177.4
177.9
178.4

355.7
366.1
352.0

OCT.
NOV.
DEC.

67.2
67.5
67.7

34.7
35.4
37.5

101,
102,
105.2

52.7
54.5
52.4

179.0
179.7

11.9

180.2

350.6
366.1
381.6

1995-JAN.
FEB.
MAR.

70.2
73.1
72.3

39.0
39.7
40.2

109.1
112.7
112.5

53.1
56.3
58.3

180.6
180.8
181.2

APR.
MAY

74.5
78.6

41.0
41.9

115.6
120.6

59.8
60.7

181.7 p

41.8
42.4
42.2
41.9
41.5

115.9

60.0
60.7

120.5
120.7
120.4

60,

29

74.1
79.2
78.3
78.7
78.9

5
12
19p
26p

78.
79.
78.
75.

41.0
41.2
41.0
40.6

119
120
119
115

59.2

Week e n d i n g
1995-MAY
1
8
15

22
JUNE

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

Debt components 6

Non-M3 Components of L

121.6

Savings bonds

Short-term
Treasury
securities 3
345.2
342.5
348.2

Bankers
acceptances 4

Commercial
paper 6

Federal debt

Non-Federal
debt

15.6
15.5
15.2

398.9
402.0
389.7

3333.0
3345.4
3374.4

9045.4
9062.4
9084.7

13.7

387,
385,
390,

3376.8
3379.7
3394.5

9122,
9164,
9210,

389,
382.
393,

3393.9
3418.5
3438.6

9242,
9273.
9315,

10.4

408.6
408.0
428.9

3448.8
3485.4
3499.0

9355.2
9399.4
9448.2

379.7
393.1
409.5

10.3
10.3
10.2

436.8
446.3
452.7

3499.0
3525.0
3551.1

9484.8
9510.2
9547.2

404.7 p

10.1 p

475.2 p

3544.1 p

9586.5 p

11.4
10.6
10.8
11.1

11.7

11.1

59,
62 .

61.2
61.8
62.6

Term R P s are t h o s e with original maturities greater than o n e day, excluding continuing contracts and retail RPs.
Term Eurodollars are t h o s e with original maturities greater than o n e day. Consists of t h o s e issued to U.S. residents by foreign b r a n c h e s of U.S. banks world-wide and by
all banking offices in the United Kingdom and C a n a d a . Excludes those held by depository institutions and money market mutual f u n d s .
Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal R e s e r v e Banks, money
market mutual funds, and foreign entities.
Net of bankers a c c e p t a n c e s held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual f u n d s .
Total commercial paper less commercial paper held by money market mutual funds.
Debt data are on a monthly a v e r a g e basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities.


p
preliminary


P a g e 10

H.6 (508)
Table 6

MEMORANDUM ITEMS
Billions of dollars, not seasonally adjusted
Demanddeposits
at banks due to

U.S. government deposits
Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

11.3
11.9
12.5

5.8
4.2
4.3

7 .3
6 .3
5 .2

25.2
27.9
15.7

1.5
1.5
1.5

12.9
13.0
13.1

7.1
4.2
5.3

5 .6
5 .9
5 .9

8.3
7.7
8.1

1.5
1.5
1.5

13.4
14.0
14.6

4.8
3.9
5.8

8.0
8.2
8.4

1.6
1.8
1.6

14.9
15.0
15.0

1995-JAN.
FEB.
MAR.

8.2
7•8
7. 9

1.6
1.6
1*6

APR.
MAY

7.6
8. 0

1
8
15
22
29
5
12
19p
26p

Date

At
commercial
banks

38 . 3
38 . 4
25 . 1

2.1
2.6
2.4

143 .9
143 . 6
142 . 6

114 . 0
113 .4
112 . 9

48 . 6
48 . 6
51 .8

306 .5
305 .6
307 . 3

20.8
24.3
18.4

33 . 5
34 . 4
29 . 6

2.1
3.1
2.9

142 .2
142 .2
142 .3

112 . 6
112 .2
111 .5

54 . 8
56 . 4
56 . 8

309 . 6
310 .9
310 . 6

5 .4
5 .1
6 .0

11.3
10.1
16.9

21.5
19 . 0
28 .8

2.7
2.9
2.5

142 .6
142,,6
1 4 2 , ,1

1 1 1 .2
110 . 2
109 .2

55 . 9
56 . 1
56 . 8

309 .6
308 .9
308 .6

4.3
3.9
5.7

5 .6
5,.2
6,.2

12.1
9.8
13.4

22 . 0
18 .9
25 .3

2.2
2.0
1.3

142. 7
142. 9
143. 3

1 0 8 , .7 e
1 0 8 , ,7 e
1 0 8 ..5 e

5 8 .. 3
5 9 .. 4
5 9 . ,7

3 0 9 , .7 e
3 1 1 ..0 e
3 1 1 .. 4 e

15.0
14.9
14.9

4.9
3.3
3.4

7 . ,0
5, ,9
5. 2

20.0
21.1
10.1

3 1 , .9
3 0 . .3
1 8 , .8

1.2
2.2
2.3

143. 7
144. 6
145. 6

108. 6 e
109. 0 e
109. 2 e

59. 7
59. 9
60. 1

312. 0 e
313. 5 e
314. 8 e

1.6
1.5

14.8
14.8

5.5
3.1

6. 2
5. 7

12.4
18.7

2 4 .,1
27. 5

2.5
2.5

146. 4
147. 0

109. 5 e
109. 7 e

60. 3
60. 6 e

316. 2 e
317. 3 e

8.3
7.9
8.4
7.7
8.0

1.6
1.5
1.5
1.5
1.4

14.8
14.8
14. 8
14.8
14. 8

5.6
3.0
3.2
2.8
2.7

8.
6.
5.
5.
5.

1
9
5
0
3

27.9
29.3
20.6
14.4
11.2

41.
39.
29.
22.
19.

6
2
2
2
2

2.6
2.5
2.5
2.5
2.5

8.5
8.2
7.9
7.4

1.7
1.6
1.5
1.5

14.8
14.8
14.8
14.8

3.5
3.4
8.4
3.3

4.
5.
8.
8.

5
3
9
6

12.2
3.6
17.7
34.3

20.
12.
35.
46.

2
2
0
2

2.4
2.5
2.4
2.5

Foreign
official
institutions

1994-JAN.
FEB.
MAR.

8.5
8.4
8.1

1.6
1.5
1.6

APR.
MAY
JUNE

8.6
8.1
8•2

JULY
AUG.
SEP.
OCT.
NOV.
DEC.

JUNE

estimated
preliminary




IRA and Keogh Accounts
Time and
savings
deposits at
commercial

Foreign
commercial
banks

Week e n d i n g
1995-MAY

e
p

Time and
savings
deposits
due to
foreign
banks and
official

Note
balances at
depository
institutions

Total
cash
balance

At
thrift
institutions

At
money
market

Total