Full text of H.6 Money Stock Measures : June 29, 2000

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

MONEY STOCK AND DEBT MEASURES

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

Billions of dollars

Date

June 29, 2000

M 11

M22

M33

DEBT4

Seasonally adjusted
1998-June
July
Au g.
Sep.
Oct.
Nov.
De c.

1077.9
1076.9
1 07 3 . 1
1078.2
1084.7
1093 .7
1097 .4

4 20 0 . 4
4 21 9 . 0
4 24 3 . 0
4 28 5 . 8
4327.2
4364.2
4396 . 8

568 2. 7
5 70 3. 6
5 7 6 2. 2
5 8 2 4. 3
5887 .7
5 94 5 . 0
5 9 9 6. 7

15767 . 6
158 55 . 8
15940 .1
1 60 19 . 0
161 05 . 3
16200 .7
162 82 . 9

1999-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
S ep .
Oct.
Nov.
Dec.

1096.0
1094. 3
1101.4
1107.2
1 101. 7
1100.1
1 09 9 . 5
1 09 8 . 7
1096.1
1101. 3
1109.5
1122.9

4422.2
4447.6
4463.5
4490.4
4 513. 0
4530.9
4552.8
4570 . 5
4590 .1
4 607. 1
4627.3
4655.4

6028 . 6
6077.9
6087.7
6123.8
6156.3
6187.3
6211.0
6229. 1
6255.9
6306 . 5
6384.7
6477.0

1 63 70 . 0
164 61 . 2
16579.1
1 6684. 7
1 6 7 59 . 0
1 68 37 . 8
1 69 20 . 0
170 17 . 8
17122 . 3
172 12 . 6
1 72 80 . 6
17381.1

2000-Jan.
Feb.
Mar.
Apr.
May

1119.4
1 10 5 . 8
1112. 3
1116.5
1105.1

4679 . 3
4691.3
4728.3
4768.8
4764.8

6521.2
6539.0
6612.2
6655. 1
6675.3

1 74 69 . 9
1 75 36 . 0
1 76 3 9 . 2
1 77 1 8 . 7 p

Not seasonally adjusted
1998-June
July
Au g.
Sep.
Oct.
Nov.
Dec .

1075 .3
1074 .4
1069 . 5
1070.9
1077 . 6
1098 . 2
1121.3

4 18 7 . 4
4208. 1
4237 . 8
4272.8
4311.5
4367 .4
4422 .0

5 66 6. 4
5678 .9
574 7. 4
580 1. 7
5 86 9. 8
5 95 5. 2
6 02 6. 3

15723 . 6
157 95 . 8
15881 . 4
15966 . 4
16052 . 5
16174 . 4
162 79 . 8

1999-Jan.
Feb.
Mar.
Ap r .
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1103 . 9
1085. 2
1097 .4
1113.5
1096 . 3
1 098. 2
1097. 6
1093. 5
1087. 2
1095. 2
1112. 9
1147. 4

4432.8
4443 . 0
4481.3
4528.4
4489 . 0
4515.2
4538.7
4560.6
4573.8
4592.4
4629.6
4683.7

6 04 3 . 0
6091.2
6115.6
6160. 1
6137 .4
6167.7
6177.9
6207.2
6226.2
6286.0
6396.3
6512.0

163 51 . 7
164 27 . 4
1 6 5 59 . 4
16655.1
16710. 4
1 6 7 88 . 3
1 6 8 57 . 5
16961.1
17 0 7 2 . 1
1 71 60 . 9
1 72 57 . 6
1 7 3 80 . 2

20 00-Jan.
Feb.
Mar.
Apr.
May

1126.1
1097.3
1109.1
1125.3
1 099. 0

4689. 8
4689.5
4749.2
4814.3
4736.7

6537.5
6558.5
6645 . 6
6699.1
6653.3

1 74 5 5 . 0
17505.1
17620.2
17689.3 p

Footnotes appear on the following page

p preliminary
Components may not add to totals due to rounding.



Table 2

MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates
M2

M3

DEBT1

3 Months from Fob.

2 0 00 TO May

200 0

-0.3

6. 3

8. 3

5.7

6 Months from Nov.

1999 TO May

2000

-0.8

5.9

9.1

5.9

1999 TO May

2000

0.3

5. 6

8.4

6.2

-2. 1

6. 3

7.5

12 Months from May

Thirteen weeks ending June 19 , 2000
from thi rteen weeks endi ng:
Mar. 20, 2000 (13 weeks previ ous)
Doc.

1.

M1

20,

1999

(26 weeks previ ous)

0.5

6.2

9.7

June 21,

1999

(52 weeks previ ous)

0.5

5.8

8.5

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, January 2000 to April 2000, October 1999 to April 2000
and April 1999 to April 20 00 , respectively._________________________
p

Footnotes to Table 1:
1.

2.

3.

4.

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) dem and
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
PlTcf\SS
co,]ect'°^ and Federal Reserve float; and (4) other checkable deposits (O CDs), consisting of negotiable order of withdrawal (N O W ) and automatic transfer service
(ATS) accounts at depository institutions, credit union share draft accounts and demand deposits at thrift institutions. Seasonally adjusted M1 is calculated by summinq
currency, travelers checks, dem and deposits, and O CDs, each seasonally adjusted separately.
Consists ol^M1 plus savings deposits (including money market deposit accounts), small-denomination time deposits (time deposits— including retail RPs— in amounts of less
than $100,000)^ and balances in retail money market mutual funds. Excludes individual retirement account (IR A ) and Keogh balances at depository institutions and money
market funds. Seasonally adjusted M 2 is computed by summing savings deposits, small-denomination time deposits, and retail money fund balances, each seasonally
adjusted separately, and adding this result to seasonally adjusted M 1 .
Consists of M 2 plus large-denom ination time deposits (in amounts of $ 1 0 0 ,0 0 0 or more), balances in institutional m oney funds, RP liabilities (overnight and term) issued by all
depository institutions, and Eurodollars (overnight and term) held by U .S. residents at foreign branches of U.S. banks worldwide and at all banking offices in the United
Kingdom and C anada. Excludes am ounts held by depository institutions, the U.S. government, money funds, and foreign banks and official institutions. Seasonally adjusted
M3 is calculated by summ ing large time deposits, institutional m oney fund balances, RP liabilities, and Eurodollars, each seasonally adjusted separately and addinq this
result to seasonally adjusted M 2.
Debt. The debt aggregate is the outstanding credit market debt of the domestic nonfinancial sectors — the federal sector (U.S. government, not including governm entsponsored enterprises or federally related mortgage pools) and the nonfederal sectors (state and local governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal debt consists of mortgages, tax-exem pt and corporate bonds, consum er credit bank loans
commercial paper, and other loans. T he 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 sm oothed into the series) and month-averaged (that is, the data have been derived by averaging adjacent month-end levels). T he presentation of the debt
data in this release differ, therefore, from the quarterly flow of funds statistics contained in the Federal Reserve releases Z.7 and Z.1. In those releases, published levels of
credit market debt are m easured on a quarter-end basis and contain discontinuities.
Note: Current and historical H .6 data are available each w eek on the Federal Reserve Board's web site (http://w w w.federalreserve.gov/). Monthly data are available back to
January 1959, and w eekly data are available back to January 1975 for most series. For information about individual copies or subscriptions, contact Publications Services
at the Federal Reserve Board (phone 20 2-4 5 2 -3 2 4 5 , fax 2 0 2 -7 2 8 -5 8 8 6 ). For paid electronic access to current and historical data, call S T A T -U S A at 1 -8 0 0 -7 8 2 -8 8 7 2 or
2 0 2 -4 82-1 98 6.




H.6 (508)
Table 3

Pa9e 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjusted
M1
Period ending

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

2000-Mar.

27

1113. 3

1 109. 3

1 11 5. 0

469 6 . 6

4725.2

4739.1

6554 . 0

6 609. 2

6623.3

Apr.

3
10
17
24

1112.1
1111.2
1110. 8
1111. 4

1 11 5 . 1
111 5. 9
1115. 9
1118. 7

113 1. 4
110 3 . 8
1 1 1 3. 3
1 126. 4

4 7 0 2. 4
470 8 . 8
4716.1
4 7 2 3. 4

4735.5
4745.6
4753.5
4764.7

4745. 4
4757.3
4772. 0
4784. 0

6561.0
6571.6
6582.6
6593 . 3

6621.1
6627.8
6638 . 9
6649. 4

6627 . 6
6645.9
6658.6
6665 . 3

May

1
8
15
22
29

1111.4
1110. 5
1 110. 6
1 110. 8
1 111. 0

1114. 2
1111. 9
1109 . 6
1105 .4
1104. 4

111 3. 3
109 4. 5
1104.3
110 9 . 5
1 10 9. 3

4729 .9
4734.1
4740. 1
4746.5
4752.2

4770.4
4768.5
4766.5
4763.9
4 762. 7

4768.3
4749. 8
4 763. 9
4773 . 5
4763 . 5

6603.2
6612.8
6 624. 5
6634 .7
6645 .1

6657. 3
6660. 4
6666.4
6669.5
6673 . 2

6659
6658
6682
6677
6674

June

5
12p
19p

1110. 7
1109.9
1108.9

1107 . 0
1103 . 2
1 1 0 1. 0

1 10 4 . 7
1 08 9. 4
1 10 0. 7

4757 . 6
4762.0
4765.2

4768 . 9
4771.4
4773.7

4774. 8
4773. 8
4782. 5

6653 . 9
6660 . 6
6668 . 8

6682 . 2
6688 . 1
6698.8

6694 . 1
6706 . 2
6 720. 9

.3
.3
.5
.9
.1

Not seasonally adjusted
2000-Mar.

27

1113.9

1105. 3

111 1. 4

4707.1

4744.9

4740 . 5

6576.9

6644.3

6638 . 1

Apr.

3
10
17
24

1109.6
1108.3
1108.7
1110. 0

1 114. 6
1 119. 4
1 124. 4
1128 .7

114 2. 6
1 11 5. 8
1 12 7. 8
1 12 8. 7

4713.2
4722 . 8
4734. 1
4 74 4 . 7

4759.7
4783.1
4806.5
4823.3

4793 . 8
4840.1
4851.4
4808.0

6585 . 3
6599.2
6613.2
6 626. 1

6655 .1
6 671. 3
6693.7
6705 .4

6668 . 3
6732.2
6736 . 3
6684 . 8

May

1
8
15
22
29

1110.6
1110.1
1110.5
1 110. 6
1110.6

1 121. 9
1115. 9
1108.1
1 09 9. 9
109 6. 8

1115.1
1 0 9 2. 0
1096. 5
1096. 1
1 1 0 2. 4

4751.8
4755.0
4759. 2
4762.6
4765.9

4811.2
4787 . 3
4760.5
4740.3
4734.8

4745.1
4744.5
4744.3
4727.3
4722.9

6635 . 6
6643.1
6651.1
6657 . 3
6664 . 6

6697 . 2
6677.6
6659.6
6 64 8. 4
6651.3

6635.4
6653 . 9
6664.2
6639. 9
6647 . 3

June

5
12p
19p

1110. 7
1110.1
1 10 9 . 3

110 0. 4
1098 . 6
109 8. 8

1106.6
1089. 1
1097.1

4769 .4
4771.7
4772.0

4 743. 5
4 751. 5
4760.1

4779 . 6
4 776. 3
4761.6

6671.2
6675.1
6678 .7

6665.7
6679 . 3
6692 . 6

6711. 2
6718.7
6693 . 2

Note: Special caution should be taken in interpreting w eek-to-w eek changes in money supply data, which are highly volatile and subject to revision.

p preliminary data.
Components may not add to totals due to rounding.




H.6 (508)
Table 4

Pa9e 4

SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars

Date

Currency1

4.
5.

Other checkable deposits

Demand deposits3
At commercial banks4

At thrift
institutions5

Total

1999-Jan.
Feb.
Mar.

463.0
467 .4
471.5

8.2
8.1
8.2

374 .0
371 . 3
371 . 9

147 .0
142.8
144 .2

103.9
104 .6
105 . 5

250.8
247 .4
249.7

Apr.
May
June

475.6
480.0
483 . 5

8.2
8.3
8.8

371 . 6
365 . 9
360 .6

1 46.1
142.3
142.1

105.8
105 .2
105.1

251.8
247.5
247 .2

July
A u g.
Sep.

487 .3
491.2
495 .3

9.1
8.9
8.7

360 .1
3 56 . 5
3 51 . 3

138 .1
137 . 0
136.5

104 . 9
105 . 0
104 . 3

243 .0
242 . 0
240 . 8

Oct.
Nov.
Dec.

499 .3
504 .2
515.5

8.4
8.2
8.3

353 .3
3 55 . 9
355 .2

136 . 3
137 . 6
141.3

103 . 9
103 . 6
102 .7

240 . 3
241.2
244 . 0

2000-J a n .
Feb.
Mar .

524 .4
518 . 5
517 . 5

8.2
8 .1
8.2

343 .7
338 .1
343 . 0

141. 6
137 .4
137 .1

101. 5
103.7
106 . 5

243.1
241.2
243 .7

Apr.
May

518.5
520.0

8.2
8.3

341.9
334 .4

140.0
135 .7

107 . 9
106 . 8

248 . 0
242 . 5

519.1

8 .1

347 .6

143 . 8

107.8

251.6

Week endina
2000-Apr. 24

1.
2.
3.

Travelers checks2

May

1
8
15
22
29

518.4
518.7
519 . 5
520 .0
521.3

8 .1
8.2
8.2
8.3
8. 4

340
324
335
338
337

.1
.7
.5
.4
.8

139.1
134 .4
134.4
135.9
137 . 3

107
108
106
106
104

.5
.6
.7
.9
.6

246 . 6
243 . 0
241. 1
242.8
241.9

June

5
12p
19p

520 .3
520.9
522 .1

8.5
8.5 e
8.5 e

332 .8
3 21 . 2
329 .3

134 .4
131.3
134 . 1

108.7
107 . 5
106 . 9

243 . 2
238 . 8
240 . 9

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 dem and deposits.
Dem and deposits at com m ercial 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 N O W and A TS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of N O W and A TS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.

e
estimated
p
preliminary
Components may not add to totals due to rounding.



•

•

•

•

•

•

Page 5

H.6 (508)
Table 5

SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars
Savings deposits1
Date

At commercial
banks

Total

At commercial
banks

At thrift
institutions

Total

Retail
money
funds

Total
Non-M1 M2

1999-Jan.
Feb.
Mar.

1198.6
1212. 6
1217.3

419.2
426 .0
429.9

161 7. 7
163 8. 6
1 64 7. 2

622.6
618.6
616.9

3 24 . 3
322.5
320.4

947 . 0
941.1
937 .3

761.5
773 .6
777 .6

3326.2
3353 . 3
3362.1

Apr.
May
June

1230 .9
1242 .4
1252 .2

431.5
442.0
447 .7

1 662. 4
1 684. 4
169 9. 9

615.9
616.1
616.4

3 19 . 2
3 17 . 7
3 15 . 0

935 .2
933 .8
931.4

785 .7
793 .2
799 .5

3383.2
3411.4
3430 . 8

J uly
Aug.
Sep.

1264 .3
1274.0
1285. 7

453 .7
455 .6
455 .7

1718.1
1729.6
174 1 . 5

617 . 3
618 . 9
622.1

314.2
314 . 5
315.5

931.5
933 .4
937 .6

803 .8
808 .7
814.9

3453 .4
3 471. 8
3494.0

Oct.
Nov.
Dec.

1289 .7
1289 . 0
1285 .7

453 .4
451.8
448.7

1743.1
1740 . 8
1734 .4

625 . 6
630 . 3
634 .7

3 16 . 7
318 . 9
320 . 5

942 . 3
949 .2
955 . 2

820 .4
827 . 9
842 . 9

3505. 8
3517. 8
3532 . 5

2000-Jan.
Feb.
Mar.

1288 . 3
1302 .0
1309 .1

447 . 2
449 .6
452 .3

1735 . 5
1 75 1 . 6
1 76 1 . 4

639 . 0
644 .4
6 50.1

322 . 9
323 .7
324 .7

9 61 . 9
968 .2
974 . 8

862 .5
865 .6
879 . 8

3559 . 9
3585 . 5
3615. 9

Apr.
May

1325.2
1322.2

449.3
453 .2

1774.5
1775 . 5

659.7
666 . 9

324 .2
326 .4

983 . 9
993 . 3

893 . 8
890 . 9

3652.3
3659.7

1329.1

448 .7

1777 . 9

660 . 8

325 .0

985 . 8

894 . 0

3 657. 6

987
989
992
994
996

.8
.8
.0
.0
.7

889 . 3
885 . 1
891.5
892 . 6
895 . 0

3655 . 0
3655 . 3
3659 . 6
3664 . 0
3654.2

1000 . 5
1004 .4
1007 .7

889 . 8
889 . 9
887 . 5

3670 . 0
3684 .4
3 681. 8

Week endina
200 0 -Apr. 24

1.
2.

At thrift
institutions

Small-denomination time deposits2

May

1
8
15
22
29

1324 . 6
1328 . 6
1324.0
1322. 7
1308 . 8

453 . 3
451.8
4 52.1
454 .8
453 .7

1778.0
1 78 0 . 4
1776.1
1777 . 5
1 76 2 . 5

662.2
663 . 5
665 .7
667 .8
669 . 8

325 . 6
326.3
326 . 3
326 .1
326 .9

June

5
12p
19p

1331.1
1339.5
1333. 7

448 . 6
450.6
452.9

1 7 7 9. 7
1790. 1
1786.6

673.2
676 .1
67 8 . 4

327 .3
328 .4
329 .3

Savings deposits include m oney market deposit accounts.
Small-denom ination tim e deposits including retail RPs— are those issued in amounts of less than $ 1 0 0 ,0 0 0 . All IRA and Keogh account balances at commercial banks and
thrifts are subtracted from small time deposits.

p preliminary
Components may not add to totals due to rounding.



Page 6

H.6 (508)
Table 6

SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3 AND DEBT
Billions of dollars

Date

1999-Jan.
Feb.
Mar.

3.
4.

Large-denomination time deposits1
RPs3
At commercial
banks2

At thrift
institutions

Eurodollars4

Total

Debt components5
Total
Non-M2 M3

Federal

Non-Federal

523.3 533 .2
535 .9

541.4
537 . 8
534 . 5

90.3
90.0
89.5

631.7
627 .8
624 .0

300.6
315.1
305 .7

150 .7
154.1
1 58 . 7

1606 .4
1630 .3
1624 .2

3742 . 7
3723.7
3723.9

12627. 3
12737 . 5
12855. 2

Apr.
May
June

544 .4
550.1
553.9

537 .1
537 .2
535 .9

89 . 4
88.6
88.9

626 .5
625 .8
624 .9

300 .9
305 .0
312.8

1 61 . 5
1 62 . 3
1 64 . 8

1633.3
1643 .2
1656.4

3718.6
3702.8
3703.6

12966 . 1
13056 . 2
1 31 34. 1

J uly
Aug.
Sep.

556 .1
563 .8
566 . 9

537 .6
533 .9
540 . 0

88.8
89. 6
89 . 6

626 .4
623 .5
629 .5

31 2 . 7
313.3
313 . 5

163 .0
158.0
155 . 8

1658 .2
1658 . 6
1665 . 8

3708.0
3711.0
3698 . 1

13212. 0
13306 . 8
13424. 3

Oct.
Nov.
Dec.

577 .7
592 . 1
607 . 4

563 . 6
588.9
614 .4

89 . 5
91. 0
91. 5

653 .1
679 .9
705 . 9

313.4
321.5
334 .7

155.2
163 . 9
173 . 5

1699 .4
1757 .4
1821. 5

3680.2
3656.9
3659.5

13532 .4
13623 . 8
13721.7

200 0-Jan.
Feb.
Mar.

623 .5
617 . 5
640.7

618.7
620 . 5
627 . 6

94.3
95 . 0
95.1

713.0
715.4
722 .7

329 .4
343 .2
339 . 5

176 . 0
171. 6
180 . 9

1841.9
1847 .7
18 8 3 . 9

3646 .2
3609.4
3618.8

13823 .7
13926 . 6
14020.4

Apr.
May

640.0
649 . 2

644 .7
649 .6

94 .6
93 . 3

739 . 3
743 . 0

334 .5
341.2

172.6
177.0

1886 . 3
1910 .4

3602.3 p

14116. 4 p

637 .7

642 .4

94.5

736 .9

335 .1

171.6

1881. 3

Week endina
2000-Apr. 24

2.

Institutional
money funds

May

1
8
15
22
29

637 .5
644.4
652 .5
654 . 2
648 . 5

645
656
653
644
645

.8
.0
.9
.0
.8

93.6
93 . 5
93. 9
93. 2
92. 9

739 .4
749.5
747 .8
737 .2
738 .7

339
339
344
336
342

.5
.6
.3
.9
.5

174.8
17 5 . 0
173 . 9
176 . 3
180 . 9

1891.1
1908. 5
1918.6
1904 . 5
1910.6

June

5
12p
19p

645 .7
654 .2
660 . 3

647 . 5
657 .7
662.4

93. 6
94.8
95.1

741.1
752.5
757 .5

347 .4
347 .0
345 .0

185 . 1
178.8
175.6

1919.3
1932.4
1938.4

Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. qovernment, and foreiqn banks and
official institutions.
Overnight and term RPs of $ 1 0 0 ,0 0 0 or more issued by depository institutions, excluding those held by depository institutions and by m oney funds.
Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United Kingdom and Canada,
excluding those held by depository institutions and by money funds.

Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities.
p preliminary
Components may not add to totals due to rounding.




%

•

•

•

•

H.6 (508)
Table 7

•

•

•

•

•

Page 7

NOT SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars

Date

Currency1

Travelers checks2

Other checkable deposits

Demand deposits3
At commercial banks4

4.
5.

Total

4 62 . 4
4 66 . 4
471.2

8.3
8.3
8.3

379.2
364 .3
367 .2

149.3
142.7
144 . 8

104 .7
103 .4
105 . 9

254.0
246.1
250 .6

Apr.
May
June

475.7
479 .7
4 83.0

8.3
8.3
8.6

372.1
361.5
359 .3

149.0
141.9
142.2

108 .4
104 . 9
105.2

257 .4
2 46.8
247 .4

July
Aug.
Sep.

487 .7
490.2
493.3

8.7
8.6
8.5

359 .9
355 .2
347 .2

136.8
135 . 6
135.2

104.4
103 . 9
103 . 0

241.2
239 .5
2 38.2

Oct.
Nov.
Dec.

4 98.3
505 .1
521.2

8.4
8.3
8.4

3 50 . 7
359 .2
371.2

1 34 . 9
136 . 9
142.3

102 . 8
103 .4
104 . 3

237 . 8
2 40.3
246 .7

200 0-Jan.
Feb.
Ma r .

523 .1
517 . 5
517.6

8.4
8.3
8.3

348 .4
331.7
338 . 5

143.8
137 .2
137 .7

102.4
102 . 6
107 . 0

246 .2
239 .8
244 .6

Apr.
May

518 . 9
519.6

8.3
8.4

344 .4
329 .2

142.8
135.4

110 . 8
106 .4

253 . 6
241. 8

518.4

8. 3

344.8

147.3

109 . 9

257.2

339 .2
319.9
329 .7
328.8
332.5

141.0
134.2
133 . 3
135.2
137 . 3

109 .2
109.4
105 .7
104 . 8
103 . 9

250 .3
243 . 6
239 .1
240 . 0
241.1

332.3
320.5
326.9

1 34 . 6
131.1
1 34 . 3

110 . 1
107 . 3
106 . 6

244 .7
238.4
240 . 9

Week endina
2000-Apr. 24

1.
2.
3.

At thrift
institutions5

1999-J a n .
Feb.
Ma r .

May

1
8
15
22
29

517 .4
520.2
519.4
518.9
520 .3

8.3
8.3
8.4
8.4
8.4

June

5
12p
19p

521.0
521.8
521.0

8.5
8.4
8.3

e
e

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding am ount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in dem and deposits.
D em and deposits at comm ercial 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 N O W and A TS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of N O W and A TS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.

e
estimated
p
preliminary
Components may not add to totals due to rounding.



Page 8

H.6 (508)
Table 8

NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars
Savings deposits1
Date

At commercial
banks

Total

At commercial
banks

At thrift

Total

Retail
money
funds

Total
Non-M1 M2

1999-Jan.
Feb.
Ma r .

119 6 . 8
1 20 5 . 9
1 2 2 0. 4

418.5
423 .7
431.0

1615.3
1629.5
165 1 . 4

624 .1
6 20 . 8
618 . 5

325 .1
323 .7
3 21. 3

949 .2
944 .5
939 .7

764 .4
783 . 8
792.8

3328.8
3357.8
3383 . 9

Apr.
May
June

1 24 4 . 9
1238 .8
1253 .4

436.4
440.7
448.1

1681.2
1 67 9 . 5
1701.6

6 16 . 4
6 14 . 3
6 13 . 3

319 . 5
316 . 8
313. 4

935 .9
931.1
9 26 . 7

797 . 8
782.1
788 . 8

3414.9
3392.7
3417.0

J uly
Aug.
Sep.

1265 .7
1272.5
1282 . 0

454.2
455 . 1
454 .4

1719.9
1727.6
1736.4

615. 5
617 . 3
621. 5

313 . 2
313 .7
3 15 . 2

928 .7
931.0
936.7

792 . 5
808 . 6
813 . 5

3441.1
3467 . 1
3486. 6

Oct.
Nov.
Dec.

1 285. 1
1288.6
1288.5

451.8
451.6
449 .7

1736.9
1740.3
1738.2

626.7
631.9
635 . 5

3 17 . 2
3 19 . 6
3 21 . 0

943 .9
951.5
956 .4

816.4
824 .9
841. 6

3 497. 1
3516.7
3536.3

2000-Jan.
Feb.
Mar .

1286.5
1294.6
1311. 8

446 .6
447.1
453 .2

1 733. 1
1741.7
1765 . 0

640. 6
647 . 0
652.1

323 .7
325 .0
325 .7

964 .3
972 . 0
977 . 8

866 . 3
878 . 5
897 .3

3 563. 7
3592.1
3640 . 1

Apr.
May

1341.5
1317 .4

454 .9
451.6

1796.4
1769.0

660 .4
664 . 6

324 .5
325 . 3

984 . 9
989 . 9

907 . 8
878 .8

3689.1
3637 .7

1336. 1

451.0

1787 . 1

660 . 8

325 . 0

985 .8

906 . 3

3679 . 3

882
874
877
879
882

.8
.9
.6
.6
.8

3630. 0
3652. 4
3647. 8
3631. 2
3620. 5

878 .2
882 . 2
876 . 4

3673.0
3 687. 2
3664 . 5

Week endina
200 0 -Apr. 24

2.

At thrift
institutions

Small-denomination time deposits2

May

1
8
15
22
29

1311.6
1335.4
1327 .7
1310.8
1296.4

448
454
453
450
449

.8
.1
.4
.7
.5

1760.4
1789.6
1 781. 1
1761.6
1745.9

6 61 . 5
662 . 3
663 . 8
665 .2
6 66 . 5

325
325
325
324
325

.3
.7
.3
.8
.3

986 . 8
988 .0
989 . 1
990 . 0
991.8

June

5
12p
19p

1346.2
1352.1
1334 .2

453 .7
454 .9
453 .0

1799 . 9
1806 . 9
1787 . 2

6 69 . 4
671. 8
673 .8

325 .4
326 . 3
327 . 1

994 . 8
998 . 1
1000 . 9

Small-denom ination time deposits including retail RPs
thrifts are subtracted from small time deposits.

p preliminary
Components may not add to totals due to rounding.



are those issued in amounts of less than $1 00 ,0 00 . All IRA and Keoqh account balances at commercial banks and

H.6 (508)
Table 9

Page 9

NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3 AND DEBT
Billions of dollars

Date

3.
4.
5.

Large-denomination time deposits1

RPs3
Eurodollars4

At commercial
banks2

At thrift
institutions

Total

At commercial
banks

At thrift
institutions

Total

Total
Non-M2 M3

Debt components5
Federal

Non-Federal

1610.2
1648.2
1634 . 3

373 6. 6
3721. 8
3741. 2

12615, .1
12705, . 5
12818, .2

161.3
163.9
164 .7

1631. 7
1648. 4
1652. 4

3717.1
367 4. 2
3662. 8

12938, .0
13036, . 1
13125, .4

310.8
312.9
312. 6

160.9
156.9
154.4

1639 . 3
1646 . 6
1652.4

3652. 2
3 66 5. 8
3 65 5. 8

13205, , 3
13295, . 3
13416, .3

65.5
64. 6
63. 5

310.7
324 . 1
330.0

153.8
1 64.1
175 . 6

1693 . 6
1 766. 7
1828 . 3

363 5. 5
3641. 7
3 66 3 . 1

13525. . 3
13615. . 8
13717. .1

265 .2
282 .7
282.3

64.5
62.5
59 . 9

329 .7
345 . 1
342.2

177 .2
173.0
180 . 8

1847 .7
1869 . 0
1 896. 4

363 9. 0
3605. 4
3 63 3. 6

13815. .9
13899. .7
13986. , 5

739 .0
748 .3

273.3
284 .4

59 . 8
60 . 9

333 . 1
345 .3

172 . 5
178.5

1884 . 8
1916.6

359 7. 2 p

14092. -1 P

94.5

736 .8

272.4

59 . 9

332.3

172.0

1876 . 8

1999-Jan.
Feb.
Mar.

534.8
552 .4
544 .1

533 .2
533 .9
534 .6

89.0
89 . 4
89.6

622 . 2
623 .3
624 .2

252.9
265 .7
252.9

48.0
51.0
54.7

300.9
316.6
307 .6

152.4
155 .9
158.4

Apr.
May
June

544 .2
545 .3
547 .6

536 .7
541.0
537.1

89.3
89 . 3
89 .1

626 .1
6 30 . 2
626 .2

243 .8
250 .9
254 .0

56.3
5 8. 1
59.9

300.1
309.0
313.9

July
Aug.
Sep.

540.5
555 .0
553 .2

538 .2
532 .5
542.2

88 . 9
89.4
89 . 9

627 .1
621 . 9
632 .2

248.5
249 .2
246 . 8

62.2
63.6
65 . 8

Oct.
Nov.
Dec .

570.9
595 . 1
618.9

567 .9
591.9
612 . 6

90 . 2
91.5
91.2

658 .1
683 .4
703 . 8

245 .2
259 .6
266 . 5

2000-J a n .
Feb.
Ma r .

638 .2
640.6
650 . 5

609 . 8
616 . 0
627 . 8

92.9
94 . 3
95 .1

702 .7
710.3
722.9

Apr.
May

640 .2
644 . 5

644.5
654 .3

94.5
94 . 0

635 .6

642.4

Week endina
20 0 0-Apr. 24

1.
2.

Institutional

May

1
8
15
22
29

631.0
637 .6
645 .5
650.6
645 .6

648 .7
661.0
657 .7
648 .2
651.3

94 . 1
94 . 2
94.4
93.8
93.7

742.8
755 .2
752.1
742.0
745 .0

280 .7
281.5
286 .3
280.5
287 .8

59. 3
60 . 8
61.6
60.3
61.1

339 .9
342.4
347 . 9
340.8
348.9

17 6 . 6
174.3
1 74 . 3
179.1
184.8

1890 . 3
1909.5
1919.8
1912 . 6
1924 . 3

June

5
12p
19p

646 . 6
656 .5
651.6

652 .9
660 .4
664 .1

94.4
95.2
95.4

747 .4
755 .6
759 .5

292 .0
289 .7
284 .4

60.3
61.2
61.1

352.4
350.9
345.5

185.3
179.5
175 . 0

1931.5
1942 .4
1931.6

Large-denom ination time deposits are those issued in amounts of $1 00 ,0 00 or more, excluding those booked at international banking facilities.
Large-denom ination time deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. qovernm ent and foreian banks and
official institutions.
^
Overnight and term RPs of $ 1 0 0 ,0 0 0 or more issued by depository institutions, excluding those held by depository institutions and by m oney funds.
Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United Kinqdom and C anada
excluding those held by depository institutions and by money funds.
Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities,

p
preliminary
Components may not add to totals due to rounding.




H.6 (508)
Table 10

Page 10

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

Foreign
commercial
banks

Foreign
official
institutions

Time and
savings
deposits
due to
foreign
banks and
official
institutions

U.S. government deposits
Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note
balances at
depository
institutions1

Total
cash
balance

IRA and Keogh Accounts
Time and
savings
deposits at
commercial
banks

At
commercial
banks

At
thrift
institutions

At
money
market
funds

Total

1999-Jan.
Feb.
Ma r .

8. 8
8. 7
8. 7

1. 8
1. 8
1. 7

18. 2
18. 6
19.1

2.9
1. 4
1.5

6. 6
4.8
5. 5

30. 8
6. 9
1 2. 1

40. 2
13. 0
19. 1

4.6
4.3
4.0

151. 5
151. 6
151. 7

9 7. 0
9 6. 8
96. 5

119. 4
12 1 . 1
122. 7

367 .8
369 . 4
3 71 . 0

Apr.
May
June

8. 6
8.5
8. 3

1.6
1. 6
1. 6

19.1
1 8. 6
18.1

4.6
1. 4
2.6

6. 4
5. 4
5. 9

16. 5
28. 4
24 .0

27. 5
35. 3
32. 5

3. 9
4.0
4.0

151. 6
151. 3
15 1 . 1

96. 4
9 6. 3
9 6. 3

1 24. 2
125 . 2
1 26. 3

3 72 . 2
372 . 9
373 . 7

July
Aug.
Sep.

8.2
8. 2
8.2

1. 6
1. 4
1. 3

18. 7
20. 7
2 2. 6

1. 3
1. 3
2.5

5. 2
5.1
6.4

27. 2
9. 2
29. 3

33. 7
15. 5
38. 2

4.1
4.3
4.5

150. 8
150. 7
150. 6

9 6. 2
96.0
95.8

128 . 5
131 . 9
135. 4

3 75 . 5
378.6
381 . 7

Oct.
Nov.
Dec.

8. 5
9.1
9. 7

1. 3
1. 4
1. 4

24 . 8
2 7. 4
30.1

1. 4
1. 2
1. 4

5. 2
5.1
8. 3

2 8. 6
8. 0
39. 0

35. 2
14. 3
48. 7

4.7
5.0
5. 3

150.1
149. 3
148. 5

9 5. 6
9 5. 3
95.1

137. 9
139. 4
140. 9

383. 5
384.0
384 . 5

2000-Jan.
Feb.
Ma r .

9. 7
9. 3
8. 8

1. 4
1. 3
1.2

30. 6
2 9. 2
2 7. 9

2.9
1. 2
1. 3

8.1
5. 3
5. 3

52. 5
24. 3
1 4. 1

63. 5
30. 8
20. 8

5. 4
5. 4
5. 5

148. 0
148. 0
147. 9

94. 7
94 .1
9 3. 5

142 . 6 e
14 4 . 2 e
14 5 . 9 e

385.3 e
3 86 . 3 e
387.3 e

8.6 e
8.6 e

1.2 e
1.2 e

27.2 e
27.2 e

5. 0
1. 5

8. 4
7.1

40. 0
57. 5

53. 3
66. 0

5.5 e
5.5 e

147. 8 e
147 . 5 e

93 . 2 e
93 . 0 e

147 . 5 e
14 9 . 2 e

388.5 e
3 89 . 8 e

8. 8

7.9

42. 3

59. 0

Apr.
May

Week endina
200 0 -Apr. 24
May

1
8
15
22
29

7.3
1. 5
1. 3
1.1
1. 1

16. 7
8. 3
9. 2
5. 0
5. 0

7 4. 2
7 3. 2
68. 9
53. 2
41. 7

98. 2
83. 0
79. 4
59. 3
47. 8

June

5
12p
19p

1. 2
1. 6
4.1

4.6
5.0
6.7

11. 8
2. 4
38. 8

17.7
9.0
49. 7

1.
Source: Daily Treasury statem ent,
e
estim ated
p
preliminary
Components m ay not add to totals due to rounding.