Full text of H.6 Money Stock Measures : June 12, 1986

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE statistical release
These data are scheduled for release each Thursday at 4:30 p.m.

H.6 (508)
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

JUNE

12,

1966

Billions of dollars
M1
Sum of currency,
travelers checks,
demand deposits and
other checkable deposits1

Date

1985—flAX
JUHE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC

198b—JAM.
HAB.
APfi.
HAT P

M2
M3
M1 plus overnight RPs
M2 plus
and Eurodollars,
large time deposits,
MMMF balances (gen. pur. term RPs, term Eurodollars
and broker/dealer), MMDAs,
and institution-only
and savings and small
MMMF balances3
time deposits2
Seasonally adjusted

L

Debt

M3 plus other
liquid assets4

Debt of domestic
nonfinancial sectors5

582.5
590.9
596.2
604.6
611.5
614.2
620.1
626.6

2451.9
2479.0
2496.1
2515.4
2529.5
2538.4
2550.8
2565.8

3069.9
3098.0
3113.3
3131.4
3151-5
3166.0
J180.9
3200^

3638.2
3667.4
3685.2
3713.1
3741.1
3762.3
3798.8
3836.8

6256.5
6320.2
6J6<*.8
6460.3
6^b. 3
6592.0
666U.3
6609.8

627.2
631.1
638.4
646.1
656.4

2569.1
2576.8
2591.3
2621.6
2647.7

3222.9
J239.5
3259.2
3268.6
3307.0

3858.8
3878.4
3691.2

6914.1
69b4.5
7012.6
7069.5

Not seasonally adjusted

1985—HAY
JUNE
JULY
AOG.
SEPT.
OCT.
NOV.
DEC

576.5
592.7
599.6
602.0
609.1
612.2
621.7
639.9

2444.1
2480.7
2501.0
2510.9
2521.0
2533.7
2549.1
2573.9

3063.9
3096.0
3110.8
3127.3
3145.0
3163.0
3184.3
3212.8

3626.6
3666.5
3684.6
3710.9
3736.8
3759.8
3801.5
3843.1

6231.9
6299.3
6J70.3
6441.5
0509.9
6578.4
6667. 1
680J.9

1986— JAN.
FEB.
HAS.
APfi.
HAY P

633.5
619.2
630.5
652.8
651,5

2577.9
2570.1
2593.3
2631.2
2638.7

3230.6
3231.5
3259.5
3295.3
3300.2

3864.0
3870.8
3895.4

6907.5
6945.2
6985.6
7040.9

M1
For period ended

1986-MAY

JUNE

NOTE:

Not seasonally adjusted
4-week average

13-week average

Seasonally adjusted
4-week average

5
12
19
26 P

640.0
641.9
644.1
646. 1

647.5
651.2
654.5
657.5

654.7
656.1
658.8
660.5

636.1
638.4
640.9
643.1

652.6
651.6
650.3
650.7

654.0
653.1
652.8
642.8

2P

646.5

659.7

663.2

645.9

651.8

658.5

week average

13-week average

week average

SPECIAL CAUTION SHOULD B£ TAKEN IN INTBfiPfiBTING H8SK-T0-UEEK CHANGES IN BONEY SUPPLY DATA, WHICH A*E
HIGHLY VOLATILE AND SUBJECT TO fiEflSIOM.
P—INDICATES PKELIHIMAHY DATA.
FOOTNOTES APPfcAfi ON THE FOLLOWING PAGE




H.6 (508)
Table 2

MONEY STOCK, LIQUID ASSETS AND DEBT MEASURES
ftorcent change at seasonally adjusted annual rates

M1
3 HOMXUS FROM PEB.
6 BO NTHS FROM NOV.
12 MONTHS FROM Hir

M2

M3

Debt1

11.0

8.3

9.0
14.5
14.2

1986

17.3

1985 TO HAY

1986

12.4

7.6

7.9

1985 TO nil

1986

1J.0

8.0

7.7

1986 TO HAY

THIRTEEN HB£KS ENDING JOKE 2 # 1986
FROM THIRTEEN MBBKS EUDIMGz

1/

1/

2/

3/

5/

MAR.

3, 1986 (13 B££KS PREVIOUS)

12.8

DEC.

2, 1985 (26 UEEKS PBBVIOUS)

10.7

JUNB

3, 198S (52 WBEKS PBBVIOUS)

12.4

GROWTH BATES FOB DEBT ARE BASED ON PEBXODS BEGINNING AND ENDING ONE MONTH EABLIEB THAN FOR Ttt£ HO NET Ail I AGGREGATES,
NAMELY, JANUARY 1 9 8 6 TO APRIL 1 9 8 6 , OCTOBEE 1 9 8 5 TO APBXL 1 9 8 6 , AND APBXL 1 9 8 5 TO APBXL 1 9 8 6 , RESPECTIVELY.

FOOTNOTES TO TABLE 1
CONSISTS OF (1) COBBENCI OUTSIDE THE TREASURY, FEDERkL fi£SEBV£ BANKS, AND TH£ VAULTS OF COMMERCIAL BANKS;
(2) TBAVBLEBS CHECKS OF NONBANK ISSUERS; (3) DBAAND DEPOSITS AT ALL COHHBBCXAL BANKS OTUEB THAN THOSE DUB TO
DOBESTIC BANKS, THE O.S. GOVERNMENT, AND FOBEXGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH XT£HS lH THE PROCESS
OF COLLECTION AND FEDERAL B£S£Bf£ FLOAT; AND (4) OTHEB CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE ORDER
OF WITHDRAWAL (NOi) AND AUTOMATIC TRANSFER SERVICE (ATS) ACCOUNTS AT DEPOSITORY INSTITUTIONS,
CREDIT UNION SHARE DBAFI ACCOUNTS AND DEMAND DEPOSITS AT THRIFT INSTITUTIONS. THE CURRENCY AND DEMAND
DEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF fAULT CASH AND DEMAND DEPOSITS, RESPECTIVELY, HELD BY
THRIFT INSTITUTIONS TO SEBVICB THEIR OCD LIABILITIES.
CONSISTS OF M1 PLUS OVERNIGHT (AND CONTINUING CONTRACT) R?S ISSUED BY ALL COMMERCIAL BANKS AND OVERNIGHT EURODQLLkRS
ISSUED TO U.S. RESIDENTS BY FOBEIGN BBANCHSS OF U.S. BANKS WORLDWIDE, MMDAS, SAVINGS AND SMALL DENOMINATION
TIME DEPOSITS (TIME DEPOSITS—INCLUDING RETAIL R P S — I N AMOUNTS OF LESS THAN $100,000), AND BALANCES IN BOTH
TAXABLE AND TAX-EXEMPT GENERAL PURPOSE AND 0ROK£R/DEAL£R MONEY MARKET MUTUAL FUNDS. EXCLUDES IRA AND KEOGH
BALANCES AT DBPOSITOBY INSTITUTIONS AND HONEY MARKET FUUDS. ALSO EXCLUDES ALL BALANCES HELD BY U.S. COMMERCIAL
BANKS, MONEY MARKET FUNDS (GENERAL PUBPOSE AMD BROKER/DEALER), FOREIGN GOVERNMENTS AND COMMERCIAL BANKS, AND
THE U.S. 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 AMD SAVINGS DEPOSITS.
CONSISTS OF H2 PLUS LARGE DENOMINATION TIME DEPOSITS (IN AMOUNTS OF $100,000 OR MORE) AND TERM MP LIABILITIES ISSUED
BY COMMERCIAL BANKS AND THRIFT INSTITUTIONS, TERM EURODOLLARS HELD BY U.S. RESIDENTS AT FOREIGN BBANCUES 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 DEPOSITOBY INSTITUTIONS, THE U.S. GOVERNMENT, MONEY
MARKET FUNDS, AND FOREJLGN BANKS AND OFFICIAL INSTITUTIONS. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT RKBRESEUtS
THE ESTIMATED AMOUNT OF OVERNIGHT BPS AND EURODOLLARS HELD BY INSTITUTION-ONLY MONEY MARKET MUTUAL FUlkDS^
CONSISTS OF H3 PLUS THE NONBANK PUBLIC HOLDINGS OF U.S. SAVINGS BONDS, SHOHT-TBBH TREASURY SECURITIES, COMMERCIAL
PAPER AND BANKERS ACCEPTANCES, NET OF MONEY MARKET MUTUAL FUND HOLDINGS OF THESE ASSETS.
DEBT OF DOMESTIC NONFINANCIAL SECTOBS CONSISTS OF OUTSTANDING CREDIT HABKET DEBT OF THE UNITED STATES GOVERNMENT,
STATB AND LOCAL GOVERNMENTS AND PRIVATE NONFINANCIAL SECTORS. PBIVATE DEBT CONSISTS OF CORPORATE BQUDS, MORTGAGES,
CONSUMER CREDIT (INCLUDING BANK LOANS), OTHEB BANK LOANS, COMMERCIAL PAPER, BANKERS ACCEPTANCES AND OTH£B DEBT
INSTRUMENTS. THE DATA ARE DERIVED FROM THE FEDERkL RESERVE BOARD'S PLOtf OF FUNDS ACCOUNTS. ALL DATA ON DEBT OF DOMESTIC
NONFINANCIAL SECTOBS ARE PBBSENTED IN MONTH-AVERAGE FORM, DERIVED BY AVERAGING MONTH-END LEVELS OF ADJACENT MONTHS. THE
DATA HAVE ALSO BEE* ADJUSTED TO BEMOVE STATISTICAL DISCONTINUITIES THAT MAY ARISE IN THE UNDERLYING FLOM OF FUHDS STATISTICS.
THE PRESENTATION OF DERI DATA IN THIS RELEASE DIFFERS, THEREFORE, FROM THE QUARTERLY FLOW OF FUMDS STATISTICS CONTAINED
IN THE FEDERkL RESERVE BELEAS4S Z.7 AND 2.1. IN THOSE B£L£ASES, PUBLISHED LEVELS OF CREDIT MABKET DEBT ARE MEASUBED ON
A tfUARTER-END BASIS AND INCLUDE DISCONTINUITIES.




M.t

COMPONENTS OF THE MONEY STOCK
1

O*N»
ohsokabt*
dsaosits 4

oats
OHtO**

NtM*

Ml Ml
on*

•

f*H»*pW
*

1

at

mm

La*M ttms dsposits*

8flM||| HUM) dSDOlMs"

at
total

at
ifwfn

at
total
1

at
thrift
matimilans

total

banks
i 121.2
122.1

169.6
171.5

290.8
293.6

387.7
387.6

501.0
502.6

889.5
890.3

269.3
267.3

155.7
155.4

425.0
422.7

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

banks *

banks

163.2
164.4

5.5
5.7

255.4
259.0

158.4
161.8

1869.5
1888.1

617.9
619.1

JOLI
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

617.2
616.Q

622.0

122.9
123.7
124.0

OCT.
10? •
DEC.

166.7
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

627.6
630.1
634.3

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

1986-JAB.
FEB.
HAR.

171.9
172.9
173.9

5.9
5.9
6.1

266.9
269.2
273.2

180.5
183.1
185.2

1941.9
1945.7
1952.9

653.8
662.7
667.9

124.7
125*0
125.7

179.3
180.0
181.3

304.0
305.0
306.9

386.6
388.1
389.0

499.5
502.9
505.7

886.0
891.0
894.7

289.7
291.5
287.0

158.2
159.7
163.4

447.9
451.2
450.4

174.4
175.8

6.1
6.1

275.7
281.4

189.9
195.1

1975.5
1989.4

667.2
659.2

126.6
129.0

184.9
189.6

311.5
318.6

387.9
384.8

508.3
506.2

896.2
891.0

267.0
281.4

165.0
164.7

451.9
446.1

1985-BAI
JUNE

API.
HAI P
SBBK ENDING
1986
HAT

JOBB

1/
2/
3/

4/
5/
6/
7/
8/
9/
10/

5
12
19
26 P

175,3
175.5
175.7
176.2

280.6
280.1
281.8
281.6

192.6
194.4
195.1
196.6

127.6
128.4
129.1
129.9

2 P

176.3

284.0

196.8

129.8

-

386.5
385.6
384.8
383.8

283.9
282.4
281.5
280.1

383.1

279.1

CORBBBCZ OUTSIDE TBB U.S. TREASOil, FJBDBFAL BBSBBfB BABKS ABO fAULTS OF COBBEBCIAL BABKS. EXCLUDES THB BSTIHATED
ABOOBT OF fAULT CASH HELD BT THRIFT INSTITUTIONS TO SBRflCE THE lit OCO LIABILITIES.
OOTSTABDIBG AMOUNT OF O.S. DOLLAR-DEMOHIMATED TRAVELERS CHECKS OF BOBBABK ISSUBBS. TRAVELERS CHECKS ISSUED BI DBPOSITOBI
INSTITUTIONS ABB INCLUDED IB DEHABD DEPOSITS.
DBflABD DEPOSITS AT COBBBBCIAL BABKS ABO FORBIGB RELATED INSTITUTIONS OTHEfl THAI THOSE DOB TO DOflBSTIC fiABKS, TBB O.S. GOfERNHEIT ABD FOBBIGB BABKS ABO OFFICIAL INSTITUTIONS LESS CASH ITEHS IB THB PBOCBSS OF COLLBCTIOM ABD FEDERAL RESERVE FLOAT.
EICLUDBS THB BSTIBATBD ABOOBT OF DEMAND OBPOSITS HELD AT COMMERCIAL BABKS BI 1BBIFT IBSIITOTIOBS TO SEfiflCE THBIB OCD
LIABILITIES.
COMSISTS OF BOB ABD ATS BALABCBS AT ALL DBPOSITOBI I IISTITUTIOIS, CBBDIT UIIOI SHABB DBAFT BALANCES ABD
DEBAND DBPOSITS AT TBBIFT IBSTITOTIOBS. OTHER CHECKABLE DEPOSITS SBASOBALLI ADJOSTBD BgUALS THB DIFFBBBBCB BBTHBBB THB
SBASOBALLI ADJOSTBD SOB OF DBBABD DBPOSITS PLUS OCD ABD SBASOBALLI ADJOSTBD DEBAMD DEPOSITS.
SOB OF OfBBBIGHT BPS ABD OfBBBIGHT EURODOLLARS, HOME! MARKET FOBD BALABCBS (GBMBBAL PURPOSE ABD BBO HER/DEALER) ,
MBDAS, ABD SATIBGS ABD SMALL TIHE DBPOSITS, LESS THB CO0SOLIDATIOH ADJOSTBBBT THAT REPfiBSEITS THB BSTIBATBD ABOOBT OF
DBBABD DBPOSITS ABD fAOLT CASH HELD BI THRIFT IBSTITOTIOBS TO SBBVICB THBIB TIHE AHD SAflBGS DBPOSITS LIABILITIES.
SOB OF LABGE TIBK DBPOSITS, TEBH BPS ABD TBBB EURODOLLARS OF U.S. BBSIDEBTS, BOBBI BABKBT FUBD BALAMCES (IMSTITUTIOiOBLI), LBSS A COISOLIDATIOM ADJUSTHEBT THAI BBPBBSBBTS THB BSTIBATBD ABOUHT OF O¥BENIGHT IPS ABD BUBODOLLARS HELD BI
IBSTITOTIOB-OBLI 80BBI BARKBT FOBDS.
SAflBGS DBPOSITS BZCLUDB HflDAS.
SHALL DBBOBIBATIOB TIHE DEPOSITS—1MCLUDUG BBTAIL B P S — ABB THOSB ISSOBD IB ABOUHTS OF LBSS THAU $100,000. ALL
IBDI?IDUAL HETIREHEMT ACCOUSTS (IRA) ABD KBOGH ACCOUBTS AT COHHBRCIAL BANKS AND THRIFTS Afl* SUBTRACTED FROH SHALL
TIHE DBPOSITS.
LARGB DBBOHIBATIOV TI8E DBPOSITS ABB THOSB ISSUED IB AHOUBTS OF $100,000 OR HORB, EXCLUDING fHOSfi BOOKED AT
INTERNATIONAL BANKING FACILITIES.
LABGE DENOfllNATION TIHE DEPOSITS AT COHHERCIAL BANKS LESS THOSE HELD BI HOMET HARKET MUTUAL FVHDS,
DEPOSITOR! INSTITUTIONS AND FOREIGN BANKS ANP OFFICIAL INSTITUTIONS.




H.6 (508)
Table 4

COMPONENTS OF LIQUID ASSETS AND DEBT
Billions of dollars, seasonally adjusted

Date

3/
4/

commercial paper*

Debt components4
federal debt
non-federal debt

75.7
76.1
76.5

276.0
277.4
282.*

47.5
46.3
44.5

167.7
168.6
165.7

1423.4
1442.0
1459.3

4769.4
4814.5
486Q. ?

JOLI
AUG.
SEPT.

76.7
77.2
78.0

279.9
278.1
281.3

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.
NOW.
D1C.

78.5
79.0
79.5

281.4
299.5
306.7

43.9
43.1
41.1

192.5
196.4
209.5

1518.0
1549.0
1586.3

5074.0
5131.2
5223.5

1986*JAN.

79.9
80.5
81.1

303.9
307.2
299.9

41.5
42.1
41.6

210.6
209.2
209.5

1608.0
1621.1
1628.2

5306. 1
5343.$
5384.4

1638.8

543U.6

API. P

2/

Non-M3 components of L
short-term treasury
bankers acceptances2
securities1

1985-APB.
a A*
JUNE

BAB.

1/

savings bonds

CONSISTS OF O.S. TBBASQBY BILLS AMD COO POMS UIXH BEHAINING NAI0NITIES OF LESS THAN 12 BONTBS HELD QI OTBEB THAU DEPOSITOR*
INSTITUTIONS, WEDEEkL EESEBVE 8AHKS# HOVEI flAMKKT flUTUAL FUUDS AMD POAEIGN ENTITIES.
NET OF BANKSBS ACCEPTANCES HELD BY ACCEPTING BANKS# 2ZD&BAL B&S&BV& BAIJtS, FOBEIGN OFFICIAL INSTITUTIONS. THE W&UEBAL
tiOHS LOAN BANK SXSTEB AND HONEI BABKST BUTUAL fQUDS.
TOTAL COBBEBCIAL PAPSB LESS COBBEBCIAL PAPEB &ELD BI HONBI BABKET BOTOAL FONBS.
DEBT DATA ABE ON A BONTBLX ATEBAGB BASIS# DEEMED BI AVEBAGING EBIHOF-BONTfl LEVELS OF ADJACENT BONTHS, AND BA¥E BEEN
ADJUSTED TO HEBOfE DISCONTINOITIBS.




M.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
deposits 1

at commercial
banks4

at thrift

total

in M2*

in M3 only 7

Overnight
RPs1

Overnight
Eurodollars'

institutions11

General
purpose and
broker/dealer
money market
funds

JUHS

163.1
165.1

5.4
5.9

251.0
259.4

110.5
113.8

46.5
48.4

157.0
162.2

1867.6
1888.0

619.9
617.3

48.5
48.1

12.8
12.7

172.2
175.4

JOLI
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

609.8
616.4
624.0

48.3
49.4
50.2

12.4
14.2
14.0

175.8
176.8
176.7

OCT.
NOV.
DSC.

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

629.3
635.2
638. 9

50.4
51.9
52.6

14.3
13.9
17.0

177.0
176.8
176.5

1986-JAI.
FSB.
HAS.

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

1944.3
1950.8
1962.8

652.8
661.4
666.2

49.2
51.4
50.1

18.8
16.1
16.3

177.7
181.0
186.2

173.6
175.8

5.8
5.9

278.6
276.5

134.8
132.8

59.9
60.6

194.7
193.3

1978.4
1987.2

664.0
661.5

49.4
49.5

17.9
17.6

191.8
193.7

1985-HAT

APS.
HAY P
IBEK S I D U G :
1986-HAI

5
12
19
26 P

174.9
176.1
175.6
175.8

279.7
277.2
278.4
269.6

132.6
133.0
132.6
131.9

61.0
61.0
60.3
59.5

193.6
194.0
192.9
191.4

48.8
48.1
49.4
49.3

18.1
16.5
17.0
18.0

190.4
19 2.3
193.6
196.2

2 P

175.6

281.5

134.0

61.4

195.4

52.4

19.2

195.9

JUNB

1/

2/
3/
4/
5/
6/
7/
8/
9/

COBREMCI OUTSIDE TUB U . S .

TREASURY. FEDERAL R&S&klR

BANKS AMD THE VAULTS OF COMMERCIAL B A I K S .

SXCLUDSS THE ESTIMATED

AMOUNT OF VAULT CASH HELD BT THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
OUTSTANDING AHO0MT OF U.S. DOLLAR-DSNOHINATED TRAVKLSRS CHECKS OF NONBANK ISSUERS. TRAVELERS CHECKS ISS0SD BI DEPOSITORY
INSTITUTIONS ABE INCL0DBD II DEHAID DEPOSITS.
DEBAMD DEPOSITS AT COMMERCIAL BANKS OTHER THAN THOSE DOS TO DOMESTIC BANKS, THE U.S. GOVEBNHSNT AND FOREIGN BANKS AND
OFFICIAL INSTITUTIONS, LESS CASH ITEflS IN TH* PROCESS OF COLLECTION AND F.R. FLOAT, LESS THE ESTIMATED AflOUNT OF DEMAND
DEPOSITS HELD AT COMMERCIAL BANKS BI THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
CONSISTS OF NOH AID ATS BALANCES AT COHHERCIAL BANKS, U.S. BRANCHES AND AGENCIES OF FOREIGN BANKS, AND EDGE ACT
CORPORATIONS.
CONSISTS OF NOI AID ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND MUTUAL SAVINGS BANKS, CREDIT UNION SHARE
DRAFT BALANCES, AND DSMAND DSPOSITS AT THRIFTS.
SUM OF OVERNIGHT RPS AND EURODOLLARS, HONSI MARKET FUND BALANCES (GENERAL PURPOSE AND BROKSR/DBALBR), MHDAS AND SAVINGS
AND SHALL TIME DEPOSITS LESS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS AMD VAULT CASH HELD BI i'HBIFT INSTITUTIONS TO SERVICE
THEIR TIHB AND SAVINGS DEPOSIT LIABILITIES.
SUM OF LARGE TIMS DSPOSITS, TERM RPS AMD EURODOLLARS OF U.S. RESIDENTS, HONE? MARKET FUIID BALANCES (INSTITUTION-ONLY), LESS A
CONSOLIDATION ADJUSTMENT THAT HEPRSSEMTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY IMSTITUTION-ONLT
MOMEI MARKET MUTUAL FUNDS.
CONSISTS OF OVERNIGHT AND CONTINUING CONTRACT BPS ISSUED BI COMMERCIAL BANKS TO OTHER THAN DEPOSITORY INSTITUTIONS AMD
MOMEY MARKET MUTUAL FUUDS (GENERAL PURPOSE AND BROKER/DEALER).
ISSUED BI FOREIGN BRANCHES OF U.S. BANKS WOfci-DilDK TO U.S. BESIDENTS OTHER THAN DEPOSITORY INSTITUTIONS AND
MOMEY MARKET MUTUAL FUMDS (GENERAL PUKPOSE AND BfiOKfifi/DEALER).




H.6<506)
Table 5-contlnued

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

Date

Money market deposit accounts
at
at
total
thrift
commercial
Institutions
banks

at
commercial
banks

Savings deposits1
at
thrift
institutions

total

Small denomination time deposits2
at
at
thrift
commercial
total
Institutions
banks

Large denomination time deposits3
at
at
total
thrift
commercial
4
institutions
banks

298.4
307.5

168.0
170.6

466.4
478.1

121.8
123.2

170.4
172.2

292.2
295.4

385.2
386.5

498.2
499.9

883.5
886.3

268.5
265.5

155.1
154.9

423.6
420.4

JOLT
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
385.3
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.
HO?.
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
30J.3
301.8

384.8
384.2
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.
FEB.
BAR.

336.7
337.0
340.3

179.0
179.4
180.2

515.7
516.4
520.5

123.9
123.6
124.9

178.8
179.1
181.6

302.7
302.8
306.5

386.5
387.0
387.2

502.6
504.7
504.6

889.2
891.8
891.8

288.6
290.4
287.6

159.0
160.7
163.2

447.6
451.0
450.8

344.7
348.5

180.4
182.1

525.2
530.6

127.^
129.6

185.8
190.4

313.0
320.0

384.4
382.2

505.5
502.3

889.9
884.6

283.5
280.7

164.0
164.2

447.5
444.9

1985-HAI
JUNE

APR.
HAT P
WEEK B I D I I G
1986
HAT

JONS

V
2/
3/
4/

5
12
19
26 P

344.5
346.4
348.9
350.3

128.1
129,0
129.7
130.2

383.4
382.8
382.2
381.6

280. b
280.5
280.8
281.4

2 P

352.1

130.7

381.3

279.8

SAVI1GS DEPOSITS EXCLUDE BflDAS.
SHALL DENOHINATION TXBfi DEPOSITS — INCLUDING RETAIL RPS — ARC THOSE ISSUED XI AHOUITS OF L&HS THAN $100,000. ALL
INDIVIDUAL RETIREHENT ACCOUNTS (IRA) AND KEOGM ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS ARE SUBTRACTED ffiOft SHALL
TlflE DEPOSITS.
LARGE DENOMINATION TIH£ DEPOSITS ARE THOSE ISSUED IN AflOUNTS OF $100,000 ORrtUfiE,EXCLUDING THOSE BOOKED AT INTERNATIONAL
BANKING FACILITIES (IBFS).
LARGE DENOMINATION TIME DEPOSITS AT COHHERCIAL BANKS LESS THOSE HELD BI HONEY HARKET HUTUAL FUNDS, DEPOSITORY
INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS.




laMs 5-contlnued

COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT
BHIton* of dollars, not MMonalry «d|u«t»d

Date

Institution
only money
market fundt

•tc ommercial
banks

at thrift
institutions

total

Wffn

Eurodollars1

SsvtnQS
bonds

Non M3 Components of L
Short-term
Bankers
treasury
acceptances4
securities1

Components of Debt
Commercj^al
Federal debt*

NonFMtral 9
debt

63.5
67.1

31.2
31.4

26.5
25.7

57.7
57.1

81.4
79.2

76.1
76.5

272.1
280.2

45.7
43.9

168.8
167.9

1443.8
1457.9

4788.1
4841.4

JOLT
AUG.
SEPT.

65.0
63.6
62.3

29.8
30.4
30.9

25.9
26.7
27.5

55.7
57.1
58.4

78.8
80.0
80.2

76.6
77.1
78.0

280.6
281.2
282.0

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.
HO¥.
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

79.3
79.1
77.0

78.5
79.0
79.6

281.1
295.7
303.9

43.8
43.3
42.1

193.4
199.1
204.6

1515.6
1544.2
1583.7

5062.8
5122.9
5220.2

198 6-JAB.
FSB.
BAB.

67.3
67*7
70.2

33.1
35.1
36.3

35.1
34.7
34.3

68.2
69.8
70.6

75.9
78.9
81.6

80.0
80.5
81.1

303.6
308. 1
306.1

42.3
41.9
40.7

207.5
208.8
207.9

1606.7
1621.0
1633.3

5300.8
5324.2
5352.3

74.1
76,1

34.6
34.4

34.1e
34. 1e

68. 7e
68. 5e

80.3
79.3

1644.6

5396.2

5
12
19
26 P

75.5
76.2
75.9
76.7

35.6
34.7
34.8
34.1

2 P

76.0

32.7

1985-BAI
JUMB

APIU
BAT P
1EBK ENDING;
1986-BAI

JUHB

1/

TBBB EPS ABBTHOSE IITH OBIGIHAL BATUBITIBS GBEATBB THAW OMB DAI,

EXCLUDING CONtllUlfcG CO NTH ACTS kmI) H S T A I L B

A BELATIVELI SBkLL AflOOMT OF OfBBNIGBT BPS AT THBIFT INSTITUTIONS.
2/ TBBB EOaODOLLAHS ABE THOSE BITfl OBIGINAL BATUBITIES GBBATEB THAN ONE DAI. CONSISTS OF THOSE ISSUED TO U.S. BBSIDBNTS BI
FOBEIGN BBANCHBS OF U.S. BANKS IOBLDHIDE AND BI kLL BANKING OFFICES IN THE UNITED KINGDOB AND CANADA. EXCLUDES THOSE HELD
BY DEPOSITOBI INSTITUTIONS AND BONBI BASKET BUTUAL FUNDS.
3/ CONSISTS OF U.S. TBEASUHX BILLS AND COUPONS H U H BBBAIHING HATUBITIES OF LESS THAN 12 BONTHS HELD BI OTHEB THAN DEPOSITOR!'
INSTITUTIONS, FEDERAL BESBBVE BANKS# BONEI BABKBT BUTUAL FUNDS, AND FOBBIGN ENTITIES.
4/ NET OF BANKEBS ACCEPTANCES HELD 61 ACCEPTING BANKS, F&DBBikL &&SER1R BANKS, FOBEIGN OFFICIAL INSTITUTIONS, THE fEUERkL
HOBE LOAN BANK SISTEB AND HONEI BASKET MUTUAL FUNDS.
5/ TOTAL COBBEBCIAL PAPEB LESS COMMERCIAL PAPER &£LD BI BONEI MARKET MUTUAL FUNDS.
6/ DEBT DATA ABB ON A BONTHLI A?BBAGE BASIS, DKBIfED BI AffifiAGING END-OF-MONTH LiLVZLS OF ADJACENT MONTHS, AND HAVE BEEN
' ADJUSTED TO REMOTE DISCONTINUITIES.




H.6(S08)
Table 6

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

Date

foreign
commercial
banks

1985-HAI

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

JO I B

8.P
8.0

2.1
2.0

8.3
8.3

3.1
3.4

6.7
2.Q

17.8
11.4

27.6
17.7

11.2
1.2

55.1
55.9

71.9
73.4

8.6
8.4

135.6
137.7

JULI
AUG.
SEPT.

8.1
7.8
8.1

1.9
2.0
2.1

8.3
8.2
8.2

3.1

20.0
10.6
13.4

27.0
16.4
21.1

11.2

3.4

4.0
3.0
4.3

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.
10?.
DSC.

8.2
8.1
8.5

1.9
2.1
1.9

8.3
8.4
8.3

^0
3.0
3.4

3.1
2.8
3.4

2.4
4.8
11.1

8.5
10.7
17.9

11.3
1.3
1.4

58.2
58.7
59.2

79.0
79.5
80.9

8.4
8.4
8.3

145.7
146.6
148.4

1986-JAB.
FEB.
flAfi.

8.8
8.3
8.4

2.0
1.9
1.8

8.0
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

1.3
1.4
1.5

60.7
62.5
64.2

81.9
82.9
86.4

8.6
8.7
9.0

151*2
154.2
159.5

8.7
8.8

1.9
1.8

7.5
7.4

4.2
3.1

3.7
4.8

13.6
18.7

21.5
26.6

1.5
1.5

68.4
69.5

90. 1e
91.5e

9.5e
9.5e

167.9e
170.5e

5
12
19
26 P

8.9
8.5
8.8
8.7

1.8
1.7
1.8
1.7

7.5
7.5
7.4
7.4

4.4
2.7
3.0
2.7

9.0
5.0
3.8
3.4

23.7
23.7
19.4
15.3

37.2
31.4
26.2
21.5

1.5
1.5
1.5
1.6

2 P

9.1

1.9

7.3

2.9

3.4

10.8

17.2

1.6

APR.
HA I P
USBK BBDIIG:
1986
MAT

JONS

estiBated




H.6(508)
Supplementary Table 1

Levels and Annual Growth Rates of M1 Using Standard1, Concurrent2,
and Experimental Alternative3 Seasonal Adjustment Procedures
Monthly average
Levels in billions of dollars
Experimental
Standard
W l O l IVJGU VJ
Alternative
Concurrent

Annual growth rates in percent
Experimental
Alternative
Concurrent

Cfo nHorH
Wlfll IUQIU

1985--MARCH

572.2

573. 6

574.3

6.1

6. 7

9.1

APRIL

575.7

576. 9

577.1

7.3

6. 9

5.9

MAY

582.5

582. 4

583.5

14.2

11 . 4

13.3

JUNE

590.9

590. 7

592.3

17.3

17. 1

18.1

JULY

596.2

595. 9

597.4

10.8

10. 6

10.3

AUGUST

6G4.8

603. 7

604.5

17.3

15. 7

14.3

SEPTEMBER

611 .5

610. .8

610.0

13.3

14. 1

10.9

OCTOBER

614.2

613 k 4

611 .7

5.3

5. 1

3.3

NOVEMBER

620.1

619 .0

617.5

11 .5

11 .0

1 1 .4

DECEMBER

626.6

625 .8

624.6

12.6

13 * 2

13.8

627.2

628 .1

626.1

1 .1

4 .4

2.9

FEBRUARY

631 .1

632 . 6

632.1

7.5

8 .6

11 .5

MARCH

638.4

640 . 4

641 .4

13.9

14 . 8

17.7

APRIL

646.1

647 . 7

646.5

14.5

13 . 7

9.5

MAY

658.4

658 . 4

659.9

22.8

19 . 8

24.9

1986—JANUARY

1. Standard monthly seasonal factors are derived at the beginning of each year by applying an X-11/ARIMA-based procedure to data through the end of the previous year.
2. Concurrent-monthly seasonal factors are derived each
month by applying an X-11/ARIMA-based procedure to data
through that month.




3. Alternative monthly seasonal factors are derived using an
experimental model-based procedure. This procedure uses
a combination of statistical regression and time series modeling techniques to construct seasonal factors that are more
sensitive than standard factors to unique characteristics of
each series. These characteristics include fixed and evolving seasonal patterns, trading day effects, within-month seasonal variations, holiday effects, outlier adjustments, special
events adjustments, and serially correlated noise components.