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•oOfGOUfc

FEDERAL RESERVE statistical release
H.6 ( 5 0 8 )
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

JUNE

Billions of dollars
Date

M1 J

M2 Z

4, 1992

DEBT5

M3°
Seasonally adjusted

1990-MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

806.2
809.7
810.1
816.2
822.9
822.3
823.8
826.1

3283.6
3292.3
3300.2
3315.8
3331.0
.5
3334.
.7
3333.
.0
3339.

4079.
4083.
4090.
4106.
4115.
4117.
4115.
4114.

4906.
4927.
4930.
4939.
4964.
4962.
4960.
4966.

10372.9
10438.8
10500.9
10566.
10618.
10656.
10710.
10749.

1991-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

826.2
836.2
842.3
842.7
850.9
857.3
860.0
866.5
872.0
880.9
891.4
898.1

3344.0
3369.4
3386.9
3394.8
3405.6
3411.8
3407.4
3409.
3411.
3417.
3430.
3438.

4125.8
4160.2
4165.9
4168.8
4170.5
4167.
4157.
4156.
4152.
4158.
4166.8
4170.9

4981.
.8
5008.
.7
5004.
.2
4978.
.4
4958.
.3
4986.
.4
4991.
.5
4985.
.1
4974.
.2
4977.
.3
4989.8
4987.7

10778.
10827.
10863.
10885.
10937.
10988.
11025.
11067.
11105.
11146.
11187.9
11216.2

1992-JAN.
FEB.
MAR.
APR.

910.4
931.0
939.0
942.9

3447.6
3474.7
3472.9
3466.8

4174.6
4199.8
4190.3
4178.4

4982.7
5016.8
5032.3 p

11240.1
11279.3
11335.1 p

Not seasonally adjusted
1990-MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

796.9
810.4
812.5
814.2
818.7
817.6
826.1
844.1

3266.5
3288.5
3303.7
3315.6
3323.8
3330.4
3336.9
3351.9

4065.2
4080.8
4092.4
4109.
4108.
4109.
4118.
4124.

4891
4916
4921
4934
4956
4953
4967.8
4986.4

10326.2
10390.0
10452.2
10514.7
10571.0
10619.8
10682.0
10737.2

1991-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

832.7
823.4
835.0
853.0
841.7
858.1
862.3
864.5
867.4
875.5
893.9
917.3

3351
3358
3388
3410.8
3388.7
3408
3410
3409
3403
3412
3434
3452.8

4129.7
4150.8
4171
4183
4156
4165
4158
4160
4144
4149
4169
4181

4999.8
5003.
5011.
4990.
4943.
4974.
4983.
4979.
4965.
4967.
4997.
5007.

10766.8
10797.4
10826.2
10844.9
10891.1
10939.3
10974.9
11015.3
11059.0
11107.9
11157.5
11203.6

1992-JAN.
FEB.
MAR.
APR.

918.2
916.8
930.8
954.8

3455.6
3461.9
3473.5
3484.9

4179.7
4189.3
4195.3
4195.2

5000.8
5010.1
5039.3 p

11228.1
11249.9
11300.4 p

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




H.6 (508)
Table 2

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

Ml

M2

M3

Debt 1

3 Months from JAN. 1992 TO APR. 1992

14.3

2.2

0.4

4.2

6 Months from OCT. 1991 TO APR. 1992

14.1

2.9

0.9

4.1

12 Months from APR. 1991 TO APR. 1992

11.9

2.1

0.2

4.3

Thirteen weeks ending MAY 25, 1992
from thirteen weeks ending:

FEB. 24, 1992 (13 weeks previous)

14.7

2.2

0.5

NOV. 25, 1991 (26 weeks previous)

14.6

3.0

1.2

MAY

11.8

2.2

0.4

27, 1991 (52 weeks previous)

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely,
December 1991 to March 1992, September 1991 to March 1992, and March 1991 to March 1992, 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 depository institutions and overnight Eurodollars
issued to U.S. residents by foreion branches 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 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 all depository institutions, term Eurodollars held by U.S. residents at foreion 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-averaqe 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

B i l l i o n s of d o l l a r s

Seasonally adjusted
M2

Ml

Period ending

13-week
average

4-week
average

week
average

M3

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

1992-MAR.

2
9
16
23
30

913.7
917.0
920.5
923.6
926.3

932.2
935.3
938.2
939.3
939.4

935.3
939.8
943.3
938.6
935.7

3454.5
3457.8
3460.4
3462.6
3464.6

3476.1
3478.5
3478.8
3476.9
3473.0

3478.0
3482.3
3478.3
3469.1
3462.1

4182.0
4184.3
4185.7
4186.7
4187.8

4200.9
4202.5
4199.0
4197.4
4190.3

4204.2
4200.5
4199.3
4185.6
4175.8

APR.

6
13
20
27

929.3
931.9
934.6
936.6

939.7
938.9
940.8
942.2

941.2
940.2
945.9
941.6

3466.8
3468.8
3470.5
3471.1

3469.2
3466.8
3467.2
3466.9

3467.4
3468.7
3470.5
3460.9

4189.2
4190.2
4190.5
4189.8

4183.0
4179.4
4177.8
4178.4

4171.2
4184.8
4179.4
4178.1

MAY

4
11
18p
25p

938.9
941.1
942.8
944.0

944.7
948.4
950.4
952.8

951.0
955.2
953.9
950.9

3471.8
3472.0
3471.4
3470.0

3467.4
3469.2
3468.8
3468.1

3469.6
3475.7
3468.8
3458.1

4189.0
4188.4
4185.9
4184.4

4180.3
4180.8
4180.9
4179.6

4179.0
4186.7
4179.7
4173.0

Not seasonally adjusted
Ml

Period ending

13-week
average

4-week
average

M2
week
average

13-week
average

4-week
average

M3
week
average

13-week
average

4-week
average

week
average

1992-MAR.

2
9
16
23
30

917.7
919.5
921.0
921.6
921.9

917.2
921.3
925.5
928.7
930.5

917.5
937.8
935.6
923.9
924.7

3457.3
3459.3
3460.8
3462.0
3463.4

3462.8
3467.3
3471.0
3473.1
3473.0

3463.2
3486.0
3480.3
3462.9
3462.6

4183.5
4184.9
4185.8
4186.5
4187.8

4190.1
4193.4
4194.3
4197.8
4195.0

4193.5
4208.0
4205.5
4184.2
4182.2

APR.

6
13
20
27

923.1
925.8
929.9
932.8

935.8
942.6
953.7
956.8

958.8
962.9
968.4
937.1

3465.8
3469.1
3472.1
3473.1

3477.4
3484.9
3493.1
3489.9

3503.7
3510.5
3495.6
3449.6

4190.3
4192.7
4194.2
4193.7

4195.0
4199.9
4204.4
4199.9

4208.1
4224.9
4202.5
4163.9

MAY

4
11
18p
25p

935.7
937.9
940.0
941.5

953.7
950.4
944.7
943.1

946.5
949.5
945.6
930.8

3473.6
3473.0
3472.2
3470.4

3477.7
3465.1
3454.8
3450.4

3455.0
3460.0
3454.5
3431.9

4192.7
4191.2
4188.4
4186.9

4189.3
4176.7
4167.6
4164.4

4166.0
4174.3
4166.1
4151.0

Note: S p e c i a l c a u t i o n should be taken in i n t e r p r e t i n g week-to-week changes i n money supply d a t a , 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

Other checkable

At
commercial
banks 4

Currency1

Travelers
checks2

Demand
deposits3

1990-DEC.

246.8

8.3

277.1

208.7

1991-JAN.
FEB.
MAR.

251.5
254.6
256.0

8.3
8.2
8.1

271.8
275.9
276.9

APR.
MAY
JUNE

256.3
256.6
257.6

7.8
8.0
7.9

JULY
AUG.
SEP.

259.3
261.3
262.9

OCT.
NOV.
DEC.

Nontransactions
components

deposits

At
thrift
institutions5

Total

In M 2 6

In M3
only 7

85.2

293.9

2512.9

775.6

209.5
211.6
214.6

85.2
85.8
86.6

294.6
297.5
301.3

2517.8
2533.3
2544.7

781.8
790.8
779.0

276.1
278.4
280.1

215.
220,
223,

87.1
87.6
88.2

302.5
307.8
311.6

2552.0
2554.7
2554.5

774.0
764.9
755.9

7.8
7.8
7.8

279.3
280.1
280.6

225.8
229.5
232.4

87.8
87.8
88.2

313.7
317.3
320.6

2547.4
2543.0
2539.5

749.9
747.1
741.2

264.8
266.0
267.3

7.9
8.0
8.2

283.8
287.6
289.5

235,
239,
241,

89.1
90.5
91.6

324.5
329.7
333.2

2536.4
2539.5
2540.8

741.4
735.9
732.0

1992-JAN.
FEB.
MAR.

269.4
271.6
271.8

8.2
8.1
8.0

293.9
305.1
309.7

245.9
250.7
252.7

93.2
95.6
96.7

339.0
346.2
349.4

2537.2
2543.7
2533.9

726.9
725.1
717.4

APR.

273.6

8.0

311.3

252.8

97.2

350.0

2523.9

711.6

Date

Neek

ending

1992-MAR.

30

271.7

8.0

308.5

250.6

96.9

347.5

2526.5

713.7

APR.

6
13
20
27

272.6
273.3
273.8
273.8

8.0
8.0
8.0
8.0

308.7
309.4
314.3
311.3

254.
252.
252.
253.

97,
97.
97.
94.

351.9
349.5
349.8
348.5

2526.
2528.
2524.
2519.

703.8
716.1
708.9
717.3

MAY

4
11
18p
25p

274.4
274.7
274.5
275.3

8.0
8.0
8.0
8.0

313.4
317.2
315.6
313.4

255.
259.
259.
258.

99.
96.
96.
95.

355.2
355.4
355.8
354.2

2518.
2520,
2514,
2507,

709
710
710
714.8

1.
2.

e
e
e

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are
included in demand deposits.
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 Keserve float.
4.
Consists of NON and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
5.
Consists of NON 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), savings deposits (including
money market deposit accounts) and small time deposits. This sum is seasonally adjusted as a whole.
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. This sum is seasonally adjusted as a whole.
e--indicates estimated data,
p—indicates preliminary data.




H.6 (508)
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Savings deposits 1
At
At .
commercial
thrift
banks
institutions

Date

Large-denomination time deposits 3

Small-denomination time deposits2
Total

At
At
commercial
thrift
banks
institutions

Total

General purpose
and broker/dealer
money market funds

Institutiononly money
market funds

At
A*
thrift
commercial institutions
banks 4

Total

1990-DEC.

581.9

338.8

920.7

606.4

562.3

1168.7

348.9

133.7

374.0

120.9

494.9

1991-JAN.
FEB.
MAR.

583.9
590.5
597.1

338.4
340.5
344.6

922.3
931.0
941.7

610.4
616.2
619.5

558.9
553.3
546.4

1169.3
1169.5
1165.9

356.6
361.0
365.0

138.3
145.5
148.5

379.1
385.1
382.1

117.5
114.5
110.8

496.6
499.6
492.8

APR.
MAY
JUNE

602.8
609.6
617.3

350.2
356.6
359.6

953.0
966.1
976.8

617.6
615.9
617.8

542.1
535.0
522.8

1159.7
1150.9
1140.6

366.6
367.8
368.8

152.9
155.2
155.3

379.6
379.2
377.9

108.1
104.3
100.4

487.7
483.5
478.3

JULY
AUG.
SEP.

623.2
630.4
636.7

363.0
363.7
365.7

986.1
994.1
1002.4

617.5
621.2
619.5

512.0
499.6
491.5

1129.5
1120.8
1111.0

367.9
362.4
359.9

155.4
158.6
162.6

373.8
372.0
368.1

97.4
93.5
90.4

471.2
465.5
458.5

OCT.
NOV.
DEC.

645.7
655.4
664.9

369.3
373.3
377.7

1015.0
1028.7
1042.6

614.1
606.4
598.5

481.1
472.8
464.5

1095.2
1079.2
1063.0

359.3
359.5
360.5

168.2
173.6
179.1

362.6
357.1
354.0

87.4
85.1
83.1

450.0
442.3
437.1

1992-JAN.
FEB.
MAR.

676.0
688.9
695.3

385.2
395.0
402.7

1061.2
1083.9
1098.0

587.7
576.2
569.2

455.0
443.0
432.6

1042.7
1019.2
1001.9

360.0
363.7
358.0

182.4
188.2
185.3

346.4
341.7
336.8

81.4
79.1
76.1

427.9
420.7
413.0

APR.

703.3

408.0

1111.3

565.9

418.3

984.1

354.2

189.2

332.4

73.8

406.2

567.2

427.1

994.3

187.2

335.9

75.1

567.6
566.8
566.6
564.3

423.8
420.8
416.8
414.6

991,
987,
983,
978,

354.8
352.
353,
353.
355,

179.8
189.6
187.0
197.0

332.8
333.1
333.4
330.6

74.8
74.3
73.7
73.0

410.9
407,
407.
407.
403.

562
559.
557.
555.8

412,
411,
409.
408,

974.
970,
967.
964,

357.
356.
355.
352,

194,
193,
196,
197,

331.
332.
329,
331,

72,
71,
71,
70,

404.1
404.4
401.0
402.2

Neek

ending

1992-MAR.

30

696.8

404.6

APR.

6
13
20
27

700.5
704.8
704.5
702.8

406.
406.
408.
409.

1101.4
1106.8
1111.5
1112.5
1112.5

MAY

4
11
18p
25p

704.1
708.0
710.0
707.4

412.
413.
415.
415.

1116.
1121.
1125.
1122.

1.
2.

Savings deposits include money market deposit accounts.
Small-denomination time deposits—including retail RPs—are those issued in amounts of less than $100,000. All IRA and Keogh account balances at
commercial banks and thrifts are subtracted from small time deposits.
3.
Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities,
4.
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 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Debt components*

Non-M3 Components of L
Savings
bonds

Short-term
Treasury
securities1

Bankers
acceptances2

1990-DEC.

126.0

332.7

34.0

1991-JAN.
FEB.
MAR.

126.9
127.9
129.0

330.5
328.8
323.5

APR.
MAY
JUNE

130.1
131.3
132.4

JULY
AUG.
SEP.
OCT.
NOV.
DEC.

Date

1992-JAN.
FEB.
MAR. p

1.

Commercial
paper 3

Federal

debt

Non-Federal
debt

359.3

2493.6

8256.3

35.3
34.6
32.1

363.4
357.1
353.8

2509.1
2537.5
2551.5

8269.5
8289.6
8311.8

307.3
299.5
325.1

30.
29,
28.

341.6
327.9
333.0

2547.
2572.
2606.

8337.7
8365.1
8382.2

133.5
134.4
135.2

332.8
330.6
322.9

28.
27.
25.8

339.8
336.3
337.7

2633.
2667.
2694.

8392.
8400.
8410,

136.1
137.1
137.9

321.1
323.4
315.9

25.3
24.5
23.3

336.2
337.9
339.7

2723.8
2748.3
2766.0

8422,
8439,
8450,

138.9
140.1
141.2

311.2
326.6
341.6

23.2
22.9
21.7

334.8
327.5
337.5

2780.1
2794.2
2830.0

8460.0
8485.1
8505.1

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.
2.
Net of bankers acceptances held by accepting banks. Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks,
and money market mutual funds.
3.
Total commercial paper less commercial paper held by money market mutual funds.
4.
Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove
discontinuities.
p—indicates preliminary data.




H.6 ( 5 0 8 )
Table 5

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

Other checkable deposits

Currency

Date

1

Travelers
checks 2

Demand
deposits3

At
commercial
banks 4

At
thrift
institutions5

Total

In M 2 6

In M3
only 7

Overnight
RPs 8

Overnight
Eurodollars 9

1990-DEC.

249.5

7.8

289.9

211.5

85.4

296.9

2507.8

772.8

55.0

19.7

1991-JAN.
FEB.
MAR.

249.8
252.6
255.6

7.8
7.8
7.8

277.4
268.0
270.1

213.6
211.5
215.8

84.2
83.4
85.8

297.7
294.9
301.6

2518.6
2535.0
2553.3

778.4
792.5
783.3

52.0
51.4
49.0

19.9
19.0
20.2

APR.
MAY
JUNE

256.0
257.4
259.1

7.5
7.8
8.1

277.7
271.7
279.9

222.6
217.2
222.0

89.2
87.7
89.0

311.8
304.9
311.0

2557.8
2547.1
2549.9

772.2
768.1
757.2

50.0
51.3
52.3

19.6
17.2
15.6

JULY
AUG.
SEP.

260.8
262.0
261.7

8.5
8.6
8.3

280.9
278.8
278.6

223.1
226.9
230.6

89.0
88.3
88.2

312.1
315.1
318.7

2548.2
2544.6
2536.3

748.0
751.0
741.2

51.1
52.8
51.8

13.8
14.5
14.6

OCT.
NOV.
DEC.

263.1
266.3
270.0

8.0
7.7
7.7

283.7
291.1
303.0

232.0
238.1
244.8

88.6
90.7
91.7

320.6
328.8
336.5

2537.3
2540.2
2535.5

736.9
734.9
728.9

53.1
53.5
52.7

16.3
19.5
22.6

1992-JAN.
FEB.
MAR.

267.8
269.5
271.0

7.8
7.8
7.7

300.0
296.4
302.1

250.7
250.5
254.1

91.8
92.7
95.8

342.5
343.2
349.9

2537.4
2545.1
2542.7

724.1
727.4
721.9

54.8
57.1
52.6

21.9
19.4
20.4

APR.

273.4

7.6

312.9

261.3

99.5

360.8

2530.1

710.3

51.8

18.9

1992-MAR. 30

270.3

7.7

300.9

251.4

94.5

345.9

2537.9

719.6

52.3

21.8

APR.

6
13
20
27

273.4
274.3
273.9
272.5

7.7
7.7
7.6
7.6

313.9
315.9
319.6
304.9

262.1
263.9
266.8
256.1

101.6
101.2
100.5
96.0

363.7
365.0
367.3
352.1

2544.9
2547.6
2527.2
2512.5

704.3
714.3
706.8
714.3

53.4
52.2
51.3
51.1

21.3
20.1
18.7
16.9

MAY

4
11
18p
25p

274.4
276.2
275.2
275.9

7.6
7.7 e
7.7 e
7.8 e

308.7
309.4
311.0
299.3

256.9
257.4
254.7
252.8

99.0
98.8
97.0
95.0

355.9
356.2
351.7
347.7

2508.5
2510.5
2508.8
2501.0

711.0
714.3
711.6
719.1

50.3
50.2
50.3
47.7

16.0
16.8
17.4
19.0

Week ending

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 NOW 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), savings deposits (including money market
deposit accounts) 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 all depository institutions 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).
Digitized for e—indicates estimated data,
FRASER
p—indicates preliminary data.


H.6 (508)
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars> not seasonally adjusted
Savings deposits 1
At
commercial
thrift
banks
institutions

Date

Large-denomination time deposits 3

Small-denomination time deposits2

Total

A
At
*
thrift
commercial institutions
banks

Total

General purpose InstitutionAt
At
and broker/dealer only money commercial
thrift
4
money market funds market funds
banks
institutions

Total

1990-DEC.

580.0

337.7

917.7

606.3

562.2

1168.5

346.8

134.4

373.0

120.6

493.5

1991-JAN.
FEB.
MAR.

581.1
587.4
598.4

336.8
338.7
345.4

917.9
926.1
943.7

612.1
617.8
619.9

560.5
554.8
546.7

1172.6
1172.5
1166.6

356.2
365.9
373.8

142.5
152.1
153.1

376.6
383.9
382.6

116.7
114.1
110.9

493.3
498.0
493.5

APR.
MAY
JUNE

604.9
609.3
620.0

351.4
356.4
361.1

956.4
965.8
981.1

617.1
614.2
615.7

541.7
533.5
521.0

1158.8
1147.7
1136.7

373.0
365.1
364.2

153.9
155.6
152.3

378.4
380.4
379.1

107.7
104.6
100.7

486.1
485.0
479.9

JULY
AUG.
SEP.

626.1
631.9
635.8

364.7
364.6
365.1

990.9
996.5
1001.0

617.3
620.8
619.1

511.9
499.3
491.2

1129.2
1120.0
1110.3

363.3
360.7
358.7

151.5
156.2
157.4

373.5
373.8
369.7

97.3
93.9
90.8

470.8
467.8
460.5

OCT.
NOV.
DEC.

644.6
655.3
662.4

368.7
373.2
376.3

1013.3
1028.5
1038.7

615.2
606.9
598.7

482.0
473.2
464.6

1097.1
1080.1
1063.4

357.4
358.6
358.1

163.4
172.7
180.3

362.8
356.9
352.8

87.4
85.1
82.8

450.2
441.9
435.5

1992-JAN.
FEB.
MAR.

672.3
685.2
696.8

383.1
392.9
403.7

1055.4
1078.1
1100.5

589.5
577.6
569.5

456.4
444.1
432.8

1045.9
1021.8
1002.3

359.5
368.8
366.9

188.1
196.9
191.4

344.0
340.6
337.3

80.9
78.8
76.3

424.9
419.4
413.5

APR.

706.1

409.7

1115.8

565.3

417.9

983.2

360.5

190.9

331.4

73.6

405.0

698.7

405.8

1104.5

567.5

427.3

994.9

364.4

191.3

336.0

75.1

411.1

Week ending
1992-MAR. 30
APR.

6
13
20
27

707.4
713.0
705.9
700.2

410.3
411.4
408.8
408.2

1117,
1124.
1114,
1108,

567.8
566.4
565..9
563..4

424.
420,
416.
413.

991.8
986.9
982.1
977.3

360,
364,
360,
358.8

181.3
193.8
188.1
197.9

333.
332.
331.
328.

74.
74.
73.
72.

408.3
406.8
405.0
401.1

MAY

4
11
18p
25p

702.4
708.2
710.5
706.9

411,
414,
415,
414,

1113,
1122,
1125,
1121,

560.8
558.2
555.8
553.8

412.
410.
408.
407.

973,
968,
964,
961,

355.8
352.9
350.8
351.7

193
195,
195,
200,

330.
332.
330.
334.

72.
71.
71.
71.

402.
404,
402.
405.

Savings deposits include money market deposit accounts.
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 are those issued small time deposits.
3.
Large-denomination time deposits subtracted from 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
4.
official institutions,
p- •indicates preliminary data.
1.
2.




H.6 (508)
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Term RPs 1
At
At
commercial
thrift
banks
institutions

Date

Debt components6

Non-M3 Components of L

Total

Term
Eurodollars2

Savings
bonds

Short-term
Treasury ^
securities"1

Bankers
acceptances4

Commercial
paper5

Federal
debt

Non-Federal
debt

1990-DEC.

48.1

41.5

89.6

68.7

125.8

345.1

35.7

355.1

2491.3

8245.8

1991-JAN.
FEB.
MAR.

48.4
48.5
48.1

40.3
38.2
35.4

88.7
86.7
83.5

69.2
69.8
68.2

126.8
127.9
129.1

339.6
330.3
324.5

36.1
34.3
31.5

367.7
360.3
354.7

2510.8
2540.7
2553.4

8256.0
8256.8
8272.8

APR.
MAY
JUNE

49.1
48.3
49.1

33.1
32.1
29.3

82.2
80.4
78.4

65.2
62.3
61.6

130.4
131.6
132.7

302.8
292.1
313.9

30.1
28.7
27.8

344.5
334.0
334.9

2544.5
2560.6
2586.4

8300.4
8330.5
8352.9

JULY
AUG.
SEP.

49.6
48.9
48.1

29.2
29.4
28.6

78.8
78.4
76.7

62.7
63.6
61.5

133.6
134.3
135.0

324.2
325.0
323.9

27.9
27.2
25.5

338.8
333.1
335.8

2609.3
2642.9
2673.1

8365.5
8372.4
8385.8

OCT.
NOV.
DEC.

48.9
48.0
47.0

26.6
25.6
23.8

75.5
73.6
70.9

62.8
61.9
57.7

135.9
136.8
137.7

325.1
332.4
328.3

25.1
25.2
24.5

331.5
333.8
335.8

2707.6
2740.7
2764.9

8400.3
8416.8
8438.7

1992-JAN.
FEB.
MAR.

48.1
48.8
50.9

22.8
23.3
22.8

70.8
72.0
73.7

55.7
56.3
58.7

138.8
140.1
141.4 p

319.9
327.7
342.7 p

23.7
22.7
21.3 p

338.7
330.4
338.6 p

2782.4
2799.1
2834.6 p

8445.7
8450.9
8465.8 p

APR.

50.3

21.9

72.2

57.4

52.0

20.4

72.4

59.8

Neek ending
1992-MAR. 30
APR.

6
13
20
27

50.4
49.9
50.3
50.6

21.7
22.0
22.1
22.0

72.1
71.8
72.5
72.6

57.8
57.3
57.2
56.8

MAY

4
11
18p
25p

50.2
50.6
49.7
49.9

21.6
22.0
21.9
22.0

71.8
72.6
71.6
71.9

58.8
55.7
56.3
55.0

Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs.
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.
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 average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities,
-indicates preliminary data.




H.6 ( 5 0 8 )
Table 6

MEMORANDUM ITEMS

10

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

U.S. government deposits

Time and savings
deposits due to
foreign banks
Foreign
Foreign
and official
official
commercial
institutions
institutions
banks

Date

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note balances
at depository
institutions

Total
cash
balance

IRA and Keogh Accounts
Time and
savings
deposits
At
At
at commercial commercial
thrift
institutions
banks
banks

At
money
market
funds

Total

1990-DEC.

9.0

1.5

4.1

5.0

5.2

18.1

28.2

1.4

130.3

133.4

43.3

307.0

1991-JAN.
FEB.
MAR.

9.3
8.2
8.0

1.6
1.6
1.6

4.5
5.1
5.7

4.9
4.2
5.1

7.8
11.5
6.8

24.5
35.1
23.3

37.2
50.8
35.1

1.3
1.3
1.3

132.1
133.6
135.3

133.5
134.0
134.5

43.5
43.5
44.0

309.1
311.1
313.8

APR.
MAY
JUNE

6.0
6.2
6.3

5.4
3.6
5.0

4.7
5.6
6.3

15.0
16.2
18.6

25.1
25.4
29.9

1.3
1.4
1.5

137.3
138.9
140.3

135.2
135.5
135.4

44.3
44.9
43.9

316.7
319.3
319.6

JULY
AUG.
SEP.

6.3
6.5
6.6

3.7
3.6
5.2

6.6
5.8
7.8

17.1
13.5
21.7

27.3
22.9
34.7

1.6
1.5
1.5

141.8
143.1
144.4

134.6
133.2
131.6

42.2
42.8
43.3

318.5
319.1
319.4

OCT.
NOV.
DEC.

6.7
6.7
6.6

3.6
4.4
4.8

5.7
6.0
7.4

25.0
24.2
20.5

34.4
34.6
32.8

1.5
1.6
1.5

145.9
147.0
147.7

131.2
131.2
131.2

43.4
43.0
42.3

320.5
321.3
321.2

1992-JAN.
FEB.
MAR.

8.3
7.6
7.6

1.7
1.6
1.5

6.5
6.5
6.5

5.2
4.3
4.2

7.4
6.2
5.6

27.9
20.9
15.9

40.5
31.5
25.7

1.8
2.0
2.2

148.3
148.4
147.8

131.1 e
130.4 e
129.9 e

42.2 e
42.5 e
42.5 e

321.6 e
321.3 e
320.2 e

APR.

7.9

1.5

6.5

5.9

4.9

11.9

22.6

2.5

148.4

129.2 e

42.2 e

319.8 e

6.6

3.4

5.3

2.2

Heek

ending

1992-MAR.

30

8.1

1.5

15.4

24.1

APR.

6
13
20
27

8.2
7.6
8.3
7.6

1.6
1.5
1.6
1.5

19.8

19.
14.
20.
30.8

MAY

4
11
18p
25p

7.8
7.7
7.6
7.7

1.5
1.4
1.8
1.4

23.
18.
14,
15.

34.
26.
24.
23.

e—indicates estimated data,
p—indicates preliminary data.