Full text of H.6 Money Stock Measures : June 22, 1989

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

•f*«lR£*£

H.6 (508)
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

JUNE 22, 1989

Billions of dollars
Date

M1 J

M2 2

Debt5

M3 3
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,
3588,
3610.
3630.
3655.
3670.
3677.

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

3701.5
3731.0
3755.5
3779.2
3794.3
3815.3
3837.8
3849.8
3858.9
3875.6
3896.0
3913.0

4376.1
4405.6
4435.5
4474.4
4502.9
4520.1
4563.8
4582.3
4590.1
4610.9
4637.3
4673.5

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 p

786.3
787.4
786.3
783.2
773.5

3065.
3069.
3078.
3081.
3072.

3917.7
3927.2
3949.0
3957.5
3954.7

4676.8
4689.2
4722.6
4739.1 p

9107.2
9172.3
9229.4
9286.0 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
2962.4
3001.4
2990.1
3015.6
3031.5
3030.5
3028.5
3038.4
3057.9
3077.1

3710.
3719.
3749.
3785.
3784.
3815.
3839.
3850,
3857
3873
3901
3922.8

4392.3
4401.5
4432.0
4477.7
4490.8
4520.5
4555.8
4577.1
4585.2
4606.9
4645.0
4687.0

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 p

793.0
772.3
775.1
791.3
767.3

3076,
3056,
3072,
3092,
3063,

3925.2
3915.2
3943.8
3963.0
3944.5

4693.4
4686.1
4719.1
4740.8 p

9091.2
9136.4
9190.2
9248.9 p

Footnotes appear on the following page,
p—indicates preliminary data.




H.6 ( 5 0 8 )
Table 2

MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates

Ml

M2

M3

Debt 1

1989

-7.1

0.5

2.8

7.9

1989

-3.3

0.9

3.0

8.4

1989

0.3

2.4

4.2

8.7

MAR. 13, 1989 (13 weeks previous)

-4.5

1.2

3.4

DEC. 12, 1988 (26 weeks previous)

-1.9

1.9

3.7

JUNE 13, 1988 (52 weeks previous)

1.1

2.8

4.5

3 Months from FEB. 1989 TO MAY
6 Months from NOV. 1988 TO MAY
12 Months from MAY

1988 to MAY

Thirteen weeks ending JUNE 12, 1989
from thirteen weeks ending:

1.

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely,
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 (NOW) 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

Period em ding

13-week
average

4-week
average

1989-MAR. 20
27

787.3
787.1

787.8
787.4

M3

M2

Ml
13-week
average

4-week
average

786.9
787.1

3070.0
3070.7

3078.5
3079.0

week
average

13-week
average

4-week
average

3082.5
3076.5

3926.3
3929.8

3943.9
3948.9

3956.9
3953.8

week
average

week
average

APR.

3
10
17
24

786.4
786.1
785.8
785.9

784.8
784.2
782.8
782.8

780.9
782.0
781.2
787.0

3071.8
3073.2
3074.6
3075.8

3078.9
3080.9
3081.4
3082.3

3081.1
3083.5
3084.3
3080.3

3932.5
3935.6
3938.8
3942.0

3951.3
3955.3
3955.9
3957.0

3951.4
3958.9
3959.4
3958.3

MAY

1
8
15
22
29

785.5
784.4
783.5
782.2
781.1

782.9
780.7
778.6
774.9
773.0

781.5
772.9
773.0
772.2
773.7

3076.2
3076.8
3077.2
3077.3
3077.4

3080.0
3076.6
3073.2
3071.3
3072.4

3071.9
3069.8
3070.6
3072.8
3076.3

3944.7
3947.3
3950.2
3951.4
3953.2

3957.1
3955.1
3954.2
3952.9
3954.1

3951.9
3950.7
3955.8
3953.1
3956.9

JUNE

5p
12p

779.9
778.8

773.8
772.9

776.1
769.5

3077.3
3078.0

3074.9
3078.5

3080.0
3084.8

3954.9
3957.0

3957.3
3961.0

3963.3
3970.8

Not seasonally adjusted

Period em ding

13-week
average

4-week
average

1989-MAR. 20
27

785.2
782.7

774.8
775.7

M3

M2

Ml
13-week
average

4-week
average

774.3
765.9

3069.4
3069.1

3068.2
3071.1

week
average

week
average

13-week
average

4-week
average

week
average

3073.6
3060.4

3925.8
3927.8

3934.7
3942.3

3947.7
3939.8

APR.

3
10
17
24

779.8
778.0
778.0
778.7

774.6
779.3
785.6
791.8

780.5
796.6
799.4
790.8

3069.2
3069.7
3071.2
3072.5

3074.5
3083.7
3091.7
3097.4

3090.3
3110.3
3105.8
3083.1

3929.6
3932.2
3934.9
3937.6

3948.1
3957.6
3964.0
3967.0

3962.0
3980.8
3973.4
3951.8

MAY

1
8
15
22
29

779.8
779.4
779.2
778.4
777.9

791.2
786.2
779.3
771.7
766.2

777.9
776.7
771.7
760.4
755.9

3074.0
3074.4
3074.9
3075.2
3075.8

3090.7
3079.6
3069.5
3063.6
3061.9

3063.6
3065.9
3065.2
3059.8
3056.7

3940.9
3943.3
3945.6
3947.3
3949.8

3961.0
3951.8
3944.9
3942.3
3943.3

3937.8
3944.2
3945.6
3941.4
3941.8

JUNE

5p
12p

777.8
778.0

767.9
770.0

783.5
780.1

3076.8
3078.6

3068.1
3075.9

3090.5
3096.4

3952.4
3955.4

3950.2
3959.3

3971.8
3982.1

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

Savings deposits7

Small time deposit:s8

Date

Currency1

Travelers
checks2

Demand
deposits3

Other
checkable4
deposits

In M2 5

In M3
only6

commercia 1
banks

At
thrift
institutions

Total

1988-JAN.
FEB.
MAR.

198.5
199.4
200.7

7.2
7.3
7.2

289.4
288.1
288.4

263.4
265.4
267.5

2172.2
2190.7
2205.5

770.9
780.2
786.2

179.5
181.3
183.3

237.6
237.5
238.1

417.0
418.8
421.5

APR.
MAY
JUNE

202.4
203.4
204.7

7.2
7.3
7.3

290.3
288.1
289.8

271.2
272.2
274.7

2219.1
2228.8
2236.6

788.9
794.4
802.2

184.5
186.0
187.7

238.8
239.3
239.8

JULY
AUG.
SEP.

206.4
207.0
208.6

7.2
7.2
7.3

290.4
289.9
288.8

278.5
278.3
279.0

2241.4
2247.3
2251.3

813.9
820.1
823.9

189.1
190.0
190.1

OCT.
NOV.
DEC.

209.7
210.5
211.8

7.4
7.5
7.6

288.9
287.7
288.6

279.4
281.0
282.3

2256.8
2272.7
2279.2

833.4
836.7
843.6

1989-JAN.
FEB.
MAR.

213.4
214.3
215.6

7.6
7.5
7.3

284.0
284.8
284.3

281.3
280.9
279.1

2279.4
2281.8
2292.4

215.9
216.4

7.3
7.3

281.5
278.2

278.5
271.5

APR.
MAY p

At
commercial
banks

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

852.0
858.1
870.4

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

2298.0
2299.4

876.3
881.8

185.6
182.5

227.3
222.4

412.9
404.9

485.6
497.2

597.6
609.0

1083.2
1106.1

Heek ending
1989-APR. 17
24

215.9
216.4

280.3
282.8

277.
280.

2303
2293

875.
877.

185.8
184.6

228.2
225.9

414.1
410.5

485.6
487.3

597.6
600.2

1083.
1087.

MAY

1
8
15
22
29

216.3
215.8
216.0
216.6
216.9

281
278
279
277
276.8

276.
271.
270.
270.
272.

2290.4
2296.8
2297.6
2300.5
2302.7

880.
880.
885.
880.
880.

184.
183.
182.
182.
181.

223,
223,
222,
222.
221.

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.
1098.
1104.
1109.
1112.

JUNE

5p
12p

216.7
216.9

277.8
275.3

274.
269.

2303.9
2315.3

883.
886.

181.
181.

221.
221.

403.
402.

500.7
501.8

614.0
616.6

1114.
1118.

1.
2.

7.3
7.3

Currency outside U.S Treasury* Federal Reserve Banks and the vaults of depository institutions,
Outstandinq amount of U.S dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included
in demand deposits
3.
Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S government and foreign
banks and official institutions, less cash items in the process of collection and Federal Reserve float.
4.
Consists of NOW and ATS balances at all depository institutions, credit union share draft balances and demand deposits at thrift institutions.
5.
Sum of overnight RPs and overnight Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs, and savings and small time
deposits. This sum is seasonally adjusted as a whole.
6.
Sum of large time deposits, term RPs and term Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated
amount of overnight RPs and Eurodollars held by institution-only money market funds. This sum is seasonally adjusted as a whole.
7.
Savings deposits exclude MMDAs.
8.
Small denomination time deposits--including retail 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.
e--indicates estimated data.
p--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
commercial
banks 2

Date

Debt components6

Non-M3 components of L

At
thrift
institutions

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

392.6
395.7

175.2
176.3

567.7
572.1

112.3 p

273.7 p

41.4 p

354.2 p

2171.8 p>

7114.3 p

1989-APR. 17
24

392.9
394.8

175.4
176.5

568.3
571.2

MAY

1
8
15
22
29

393.2
396.3
395.8
395.3
396.0

174.7
176.2
176.3
176.3
176.6

567.9
572.5
572.2
571.6
572.6

JUNE

5p
12p

395.2
398.3

177.2
177.0

572.3
575.3

APR.
MAY p

Neek ending

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.
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.
Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove
6.
discontinuities,
indicates preliminary data.




H.6 ( 5 0 8 )
Table 5

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

Currency

Date

1

Travelers Demand 3
checks •- deposits

At
commercial
banks4

At
thrift
institutions5

Nontransactions
components

Total

In M2

6

In M3
only7

Overnight
RPs 5

Overnight
Eurodollars9

General purpose
and broker/dealer
money market funds

1988-JAN.
FEB.
MAR.

197.0
197.1
199.1

6.6
6.8
6.9

295.9
279.1
279.9

184.3
182.0
184.2

81.4
80.4
82.5

265.7
262.4
266.7

2176.0
2192.8
2209.7

768.9
780.8
787.6

64.4
61.5
59.7

18.4
16.4
14.8

225.2
231.0
234.8

APfc.
MAY
JUNE

201.6
203.6
205.7

6.9
7.1
7.6

292.1
283.1
291.3

191.2
185.1
187.6

87.3
85.7
87.6

278.5
270.8
275.3

2222.3
2225.5
2235.6

784.0
794.0
800.1

60.2
63.2
63.7

15.5
17.2
17.2

235.8
231.8
228.9

JULY
AUG.
SEP.

208.0
207.9
208.0

8.2
8.2
7.9

293.1
289.0
287.4

188.7
188.8
189.7

88.9
88.4
88.1

277.7
277.2
277.8

2244.6
2248.2
2247.5

807.9
820.2
828.5

62.0
64.1
62.6

15.6
15.8
14.7

229.6
230.8
231.0

OCT.
NOV.
DEC.

209.0
211.3
214.9

7.5
7.1
6.9

288.7
290.0
298.8

189.0
191.3
195.0

88.0
88.6
88.7

276.9
279.9
283.7

2256.3
2269.6
2272.8

834.9
843.3
845.7

62.1
62.6
64.9

13.9
13.0
13.4

231.3
237.4
239.4

1989-JAN.
FEB.
MAR.

211.8
211.9
213.9

7.0
7.1
7.0

290.5
275.7
275.8

196.3
192.2
192.5

87.5
85.4
85.8

283.7
277.6
278.3

2282.9
2284.4
2297.0

849.2
858.5
871.7

65.0
63.7
62.9

16.6
15.1
14.3

241.7
247.2
256.0

215.1
216.6

7.0
7.1

283.3
273.3

197.4
186.1

88.5
84.1

286.0
270.2

2301.4
2296.1

870.3
881.1

59.5
57.9

14.2
14.5

260.2
259.9

215.4
214.3

7.0
7.0

286.4
282.4

200.3
199.4

90.3
87.7

290.6
287.0

2306.4
2292.3

867.6
868.7

58.9
57.3

14.7
13.2

261.6
261.0

214.2
217.4
216.8
216.4
216.7

7.0
7.0
7.1
7.1
7.2

279.3
275.4
277.3
269.5
267.5

191.8
190.1
186.3
184.4
182.9

85.7
86.8
84.2
83.0
81.7

277.5
276.9
270.6
267.4
264.6

2285.8
2289.2
2293.5
2299.4
2300.8

874.2
878.2
880.4
881.6
885.1

57.2
57.9
57.3
58.2
58.2

13.2
13.7
14.1
14.8
15.4

258.1
257.3
258.7
261.6
261.8

218.2
219.2

7.2
7.4 e

281.7
277.7

189.6
189.5

86.7
86.3

276.3
275.8

2307.0
2316.2

881.3
885.7

57.6
59.9

14.2
12.4

262.5
264.9

APR.
MAY P

Neek ending
1989-APR. 17
24
MAY
1
8
15
22
29
JUNE
12p

1.
2.

Currency outside U.S. Treasury? Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollai—denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are
included in demand deposits.
3.
Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government
and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float,
4.
Consists of NOH and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
5.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
6.
Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs and savings and small time deposits.
7.
Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated
amount of overnight RPs and Eurodollars held by institution-only money market mutual funds.
8.
Consists of overnight and continuing contract RPs issued by commercial banks to other than depository institutions and money market mutual
funds (general purpose and broker/dealer).
9.
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).
e--indicates estimated data.
p--indicates preliminary data.




H.6 (508)
Table 5-continued

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

Money m a r k e t
At

<c o m m e r c i a l

Date

banks

deposit accounts

At
thrift
institutions

Total

Savings

2
S m a l l - d e n o m i n a t i o n t i m e deposits

deposits3

At
thrift
c o m m e r c i a ,1
institutions
banks

Total

At m
At
commercial
thrift
banks
institutions

Total

Large-denomination time deposits 3
At
At
commercial
thrift
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

336.3
327.2

135.0
129.9

471.3
457.1

186.2
183.7

227.9
223.8

414.1
407.5

483.6
493.5

598.5
605.8

1082.1
1099.3

390.5
394.5

173.7
175.2

564.1
569.7

17
24

338.8
333.1

135.7
132.9

474.5
466.0

186.4
184.6

228.7
225.2

415.1
409.8

483.5
485.3

598.2
599.7

1081.7
1085.0

389.9
390.6

173.2
173.7

563.1
564.3

MAY

1
8
15
22
29

329.3
327.5
327.5
326.8
326.1

131.4
130.9
130.2
129.5
129.0

460.7
458.4
457.7
456.3
455.1

184.1
184.1
183.8
183.6
183.2

224.2
224.8
224.5
223.5
222.6

408.3
408.9
408.2
407.2
405.7

487.1
490.0
492.6
494.7
496.3

601.2
603.1
604.9
606.6
608.3

1088.3
1093.1
1097.4
1101.3
1104.6

390.4
393.4
393.5
394.6
396.9

174.5
175.4
175.4
174.9
175.3

564.9
568.7
569.0
569.5
572.2

JUNE

5p
12p

328.4
330.0

129.4
129.3

457.8
459.3

183.7
183.9

223.8
224.2

407.5
408.1

497.5
499.2

609.9
612.5

1107.3
1111.7

394.8
396.9

175.3
175.2

570.1
572.1

APR.
MAY P

Heek e n d i n g
1989-APR.

Savings deposits exclude MMDAs.
Small-denomination time deposits--includinq 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.
Large-denomination time deposits are those issued in amounts of $100>000 or more, excluding those booked at international banking facilities.
Largeydenomination 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
InstitutionAt
At
only money commercial
thrift
market funds
banks
institutions

Date

Debt components6

Non-M3 Components of L

Total

Term
Eurodollars2

Savings
bonds

Short-term
Treasury
securities3

Bankers
acceptances4

Commercial
paper5

Federal
debt

Non-Federal
debt

1988-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

85.4
85.3
89.6

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.
47.
47.

69.,8
73. 9
76. 4

114.7
121.0
124.3

88.7
91.5
92.9

104.6
105.4
105.9

262.
259.
254.

40.9
41.1
41.0

285.0
300.8
303.8

2003.
2006.
2016.

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

95.8
101.5
101.2

106,
106.
107.

261.
269.
270.

40.8
41.2
41.9

307.8
309.3
308.3

2024.
2037.
2056.

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

98.6
100.5
104.6

108.
108.
109.

270.
274.
281.

41.5
40.9
40.9

313.
320.
332.5

2069.
2090.
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

99.5
99.4
105.0

110,
111,
111

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

87.7
91.6

43.5
42.7

83 .6
84 .9

127.0
127.6

101.3
101.6

112.4 p

273.7 p

41.0 p

350.8 p

2155.1 p

7093.8 p

1989-APR. 17
24

87.9
87.3

43.6
42.0

83.3
83.7

127.0
125.7

99.7
100.8

MAY

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.
102.
102,
101.
101.

JUNE

5p
12p

93.2
94.1

42
42

86.1
86.5

128.3
128.8

99.
100.

APR.
MAY p

Week ending

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 banking 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.
4.
Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market
mutual funds.
Total commercial paper less commercial paper held by money market mutual funds.
Debt data
are on a monthly
p--indicates
preliminary
data. average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities.




H.6 ( 5 0 8 )
Table 6

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

Foreign
Foreign
official
commercial
institutions
banks

Date

IRA and Keogh Accounts

U.S. government depos.its
Time and savings
deposits due to
foreign banks
and official
institutions

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Noi:e balances
at depository
ins;titutions

Total
cash
balance

Time and
savings
At
deposits
At
at commercial commercia 1
thrift
banks
institutions
banks

At
money
market
funds

Total

1988-JAN.
FEB.
MAR.

10.1
9.4
9.3

1.7
1.6
1.6

4.2
4.2
4.2

4.1
3.1
3.6

5.6
3.8
2.9

20.8
25.1
18.7

30.5
32.1
25.2

1.6
1.6
1.6

83.9
84.7
85.5

110.0
111.2
113.2

16.6
16.8
17.1

210.6
212.8
215.8

APR.
MAY
JUNE

9.1
9.2
9.6

1.9
1.7
1.8

4.3
4.2
4.2

5.3
3.3
4.3

5.1
7.2
4.1

16.4
27.1
16.7

26.8
37.5
25.0

1.6
1.6
1.7

87.3
88.8
89.4

115.4
116.5
117.7

18.0
18.6
18.4

220.7
223.9
225.5

JULY
AUG.
SEP.

10.0
9.3
9.6

1.9
1.7
1.6

4.3
4.3
4.3

3.4
3.0
4.1

3.9
3.2
7.4

18.6
8.9
20.4

25.9
15.1
32.0

1.7
1.6
1.5

90.2
91.2
91.8

119.0
119.5
120.5

18.5
18.7
18.7

227.7
229.4
231.0

OCT.
NOV.
DEC.

9.2
9.4
9.7

1.6
1.8
1.9

4.3
4.3
4.2

3.2
3.4
4.2

6.2
5.2
5.5

24.5
12.8
18.7

34.0
21.5
28.4

1.5
1.5
1.6

92.5
93.3
93.9

121.5
121.8
122.6

18.8
19.6
20.5

232.9
234.7
237.0

1989-JAN.
FEB.
MAR.

9.5
9.5
9.0

1.8
1.8
1.7

4.2
4.2
4.1

4.0
3.7
3.8

8.1
5.8
5.2

21.0
22.2
14.3

33.1
31.7
23.3

1.5
1.5
1.5

95.1
96.2
97.4

123.7
124.3
125.4

20.7
21.2
21.6 e

239.5
241.7
244.3 e

9.0
8.9

1.7
1.7

4.1
4.2

5.2
3.3

8.9
14.1

15.0
31.0

29.0
48.4

1.6
1.6

99.9
101.8

127.3
128.4 e

22.2 e
22.9 e

249.4 e
253.2 e

1989-APR. 17
24

8.5
8.6

1.7
1.7

6.8
5.7

5.6
7.9

5.3
23.1

17.7
36.7

1.6
1.6

MAY

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

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

JUNE

5p
12p

11.3
10.0

1.6
1.9

3.8
3.3

5.4
5.5

18.2
9.2

27.5
17.9

1.5
1.5

APR.
MAY p

Neek ending

e--indicates estimated data.
p--indicates preliminary data.




4.1
4.2

H.6 (508)
Special Supplementary Table

Monthly Survey of Selected Deposits and Other Accounts:
April 26, 1989 and May 31, 19891
(not seasonally adjusted)
Insured Commercial Banks
Amount Outstanding ($mil)
Liability Categories

April 26

2

May 31

i'/.)

Average Rate Paid

Number of Issuing Banks

April 26

May 31

April 26

May 31

187,709

183,379

5.01

5.01

12,538

12,553

326,761

325,248

6.37

6.37

11,679

11,690

180,412

179,810

5.52

5.52

12,189

12,204

7 to 31 days

7,304

7,450

7.49

7.51

8,071

8,117

32 to 91 days

30,151

31,186

8.28

8.21

11,713

11,763

NOH accounts

Money market deposit accounts2
Savings deposits

3

Interest-bearing time deposits
with balances of less than
$100,000 with original
maturities of: 4

145,351

146,058

8.77

8.66

12,582

12,599

183 to 1 year

149,070

156,678

9.07

8.89

12,491

12,506

Over 1 year to 2-1/2 years

118,540

121,312

9.04

8.87

12,139

12,152

2-1/2 years and over

133,868

134,318

8.86

8.77

12,171

12,186

5

101,246

102,379

N.A.

N.A.

11,963

11,976

Retail repurchase agreements

1,506

1,706

7.80

7.45

1,738

1,846

92 to 182 days

All IRA/Keogh Plan deposits

FDIC-Insured Savings Banks
Amount Outstanding ($mil)
Liability Categories
NOH accounts

April 26

2

Money market deposit accounts2
Savings deposits

3

May 31

Average Rate Paid

i'/.)

April 26

May 31

Number of Issuing Banks
April 26

May 31

7,621

7,720

5.31

5.34

344

348

27,062

26,862

6.90

6.92

381

385

40,688

40,638

5.57

5.57

393

397

254

307

8.45

8.75

111

112

Interest-bearing time deposits
with balances of less than
$100,000 with original
maturities of: 4
7 to 31 days
32 to 91 days

4,838

5,390

9.42

9.35

329

332

24,774

25,258

9.59

9.46

378

382

183 to 1 year

35,356

36,256

9.51

9.48

383

387

Over 1 year to 2-1/2 years

25,433

25,712

9.48

9.40

361

365

2-1/2 years and over

23,516

23,838

9.34

9.27

378

382

5

21,812

22,310

N.A.

N.A.

385

389

Retail repurchase agreements

46

45

8.95

8.82

16

15

92 to 182 days

All IRA/Keogh Plan deposits

NOTE: The lower panel of this table presents data for both mutual and FDIC-insured federal savings banks.
N.A. - Data not available.
1. Estimates are based on data collected by the Federal Reserve from a stratified random sample of about 490 commercial banks and 80 savings banks.
2. NOW and MMDA account rates are reported as simple annual rates.
3. Savings deposits exclude MMDAs. The savings deposit rates are reported as simple annual rates.
4. With the exception of the 7-31 and 32-91 day deposit rates, which are reported as simple annual rates, time
deposit rates are annual effective yields reflecting the method of compounding reported by the individual
institutions.
5. All IRA/Keogh Plan time deposits regardless of size, type of instrument in which held, or interest rate paid.