Full text of H.6 Money Stock Measures : March 15, 1984

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

FEDERAL RESERVE statistical release
For Release at 4:15 Eastern Time

H.6 (508)
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

MARCH

1 5 , 1984

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

Date

1983- FEB.
NAB.
APE.
HAT
JOBE
JOLT
ADG
SEPT,
OCT.
MOV.
DEC.
1984—JAH.
FEB.

P

M2
M3
M1 plus overnight RPs
M2 plus
and Eurodollars,
large time deposits,
MMMF balances (gen. pur. term RPs, term Eurodollars
atnd broker/dealer), MMOAs,
and institution-only
MMMF balances9
and savings and small
2
time deposits
Seasonally adjusted

491.1
496.4
497.9
506.6
510.9
514.9
517.4
518.9
521.6
523.0
525.3

2054.0
2067.4
2081.8
2102.2
2117.0
2126.6
2135.3
2147.9
2167.2
2182.1
2196.1

2517.1
2532.3
2550.6
2571.0
2593.0
2604.0
2617.2
2636.4
2657.1
2689.0
2707.5

530.0
532.9

2206.4
2221.9

2721.1
2743.8

L

Debt

M3 plus other
liquid assets4

Debt of domestic
nonfinancial sectors5

2931.1
2951.7
2980.0
3003.3
3033.1
3059.7
3075.1
3097.7
3114.4
3147.5
3173.2

4767.4
4812.5
4849.7
4895.8
4958.1
5002.2
5040.6
5083.7
5124.8
5166.2
5219.0

2932.3
2956.7
2991.2
2999.3
3028.6
3052.5
3070.6
3085.5
3110.4
3148.8
3181.1

4748.2
4797.3
4826.9
4871.2
4933.2
4975.6
5019.3
5071.6
5112.0
5155.1
5219.0

Not seasonally adjusted

480.6
489.2
505.2
500*7
509.8
516.6
513.5
516.3
522.3
526.7
537.8
534.8
521.9

198J—FEB.
HAP.
APE.
HAT.
JUNE
JOLT
AUG.
SEPT.
OCT.
HOY.
DEC.
1984—JAN.
FEE.

P

2043.2
2066.6
2092.4
2096.7
2118.1
2131.9
2133.3
2142.2
2167.1
2181.2
2197.9
2210.1
2211.7

2510.2
2532.2
2558.4
2565.9
2591.2
2604.0
2615.6
2631.0
2655.7
2690.1
2713.6
2727.0
2736.4
M1

For period ended
13-week average

Seasonally adjusted
4-week average

Not seasonally adjusted
W00K &V&rdQG

13-week average

4—week average

week average

1984-FEB.

6
13
20
27 P

527.0
527.8
528.6
529.2

530.7
531.6
532.9
533.4

532.6
532.9
534.8
S3 3. 4

533.2
532.7
532.3
531.8

527.0
522.5
521.5
522.0

527.5
524.0
521.1
515.3

BAB.

5 P

529.7

533.3

S3 2.0

531.4

522.4

529.1

NOTE:

SPECIAL CADTIOH SHOULD BE TAKE* IK IHTBHPRBTIIG ISEK-TO-WEEK CHARGES IV 8ONET SUPPLI DATA, WHICH ABE
HIGHLY VOLATILE AMD SUBJECT TO REVISION.
P—INDICATES PBELIfllNAftT DATA.
FOOTNOTES APPEAB 01 THE FOLLOWING PAGE




H.6 (508)
Tabla 2

MONEY STOCK, LIQUID ASSETS AND DEBT MEASURES
fercant changt at aaaaonally adjusted annual ratM

M1

M2

M3

O»bt'

3 MONTHS PBOH HOY. 1983 fO FIB. 1984

7.6

7.3

8.2

10.6

6 HORTHS PBOfl AUG. 1983 TO FEB. 1984

6.0

8.1

9.7

10.5

12 NORTHS FR01 FEB. 1983 TO FEB. 1984

8.5

8.2

9.0

10.8

THIRTEEN WEEKS EVDIHG RAB. 5, 1984
FBOH THIRTEER WEEKS EBOIBG:

1/

1/

2/

3/

U/
5/

DEC.

5, 1983 (13 BEEKS PREVIOUS)

6.2

SEPT.

5, 1983 (26 BEEKS PHEYIOUS)

5.6

BAB.

7, 1983 (52 8BEKS PREVIOUS)

8.9

GROWTH BATES FOB DEBT ABE BASED OR PEBIOOS BEGINNING ARD ERDIRG TBO 80RTBS BABLIEB TIAB FOB TBB BORBTABT AGGREGATES,
HABELT, SEPTEMBER TO DECEHBEH 1983, JORE TO DECEBBBB 1983 ARD DECEHBEB 1982 TO DECEMBER 1983, BBSPECTIfELI. TBESE
GBONTH BATES BEFLECT ADJUSTHERTS FOB DISCORTIRQITIBS OTEB TIBE IB THE LEVELS OF DEBT P1ESBRTED IB OTBIB TABLES.
FOOTNOTES TO TABLE 1
CONSISTS OF (1) COBBERCT OUTSIDE THE TBEASUBY, FEDEBAL BESEBfE BARKS, ARD TBE VAULTS Of COHBEBCIAL BARKS;
(2) TRAVELBBS CHECKS OF HORBARK ISSOEBS; (3) DBHAHD DEPOSITS AT ALL COBHEBCIAL BARKS OTHEB TIAR THOSE DOE TO
DOHESTIC BARKS, THE D.S. GOVBBHHEHT, ABD POBBIGR BARKS ARD OFFICIAL IBSTITOTIOBS LESS CASH ItEBS IB TBE PBOCESS
OP COLLECTIOR ARD FEDEBAL BESEBVE FLOAT; ABD (*) OTHEB CHECKABLE DEPOSITS (OCD) CORSISTIRG OF REGOTIABLE OBDEB
OP MITHDRABAL (BOH) ARD AOTOHATIC TBARSFEB SBBVICE (ATS) ACCOORTS AT DEPCSITOBT IHSTITUTIOHS,
CREDIT DNIOR SHARE DBAFT ACCODBTS ARD DEBAID DEPOSITS AT THBIFT IRSTITOTIORS. THE COBBEBCT AHD DEBARD
DEPOSIT COflPORERTS EXCLUDE THB ESTI8ATBD AHOORT OF VAULT CASH ABD DEHAHD DEPOSITS, BKSPBCTIVELY, BBLD BT
THRIFT IBSTITUTIORS TO SEBVICE THEIB OCD LIABILITIES.
CORSISTS OF H1 PLUS OTEBBIGBT (ARD COBTIBUIRG CORTBACT) IPS ISSUED BT ALI COBHEBCIAL BARKS ARD OTEBRIGHT EOBODOLLABS
ISSUED TO D.S. BESIDERTS BT FOBEIGR BBARCHES OF O.&. BARKS BOBLDBIDE, BHDAS, SAflBCS ABD SHALL DERCHIRATIOR
TIflE DEPOSITS (TIHE DEPOSITS—IICLUDIRC RETAIL BPS--II ABOOITS OP LESS TBAR 1100,000), ABD EALAICES IR BOTH
TAXABLE ARD TAX-EXEHPT GEREBAL FOBPOSE AID BBOKEB/DEALEB BORBI BABKET HOTOAL FOBDS. EXCLODES IBA ABD KEOGH
BALANCES AT DEPOSITOBT IHSTITOTIORS AHD BOBET BASKET FORDS. ALSO EXCLODES ALL BALARCES HELD BT U.S. COBHEBCIAL
BANK3, HOBET HABKET FORDS (GEREBAL POBPOSE ARD BROKER/DEALER), FOR El GII GCTEBBHERTS ARD COMMERCIAL BARKS, ARD
THE U.5, GOVERRBEHT. ALSO SOBTBACTBD IS A CORSOLIDATIOR ADJOSTHERT THAT BEPBBSERTS THE ESTIMATED AHOORT
OF DEMAND DEPOSITS AND ?AOLT CASH HELD BX THBIFT IISTITOTIOIS TO SEBTICE THEIB TIHE ABD SAVIHGS DEPOSITS.
CONSISTS OF 82 PLOS LARGE DBROfllRATIOR TIHE DEPOSITS ARD TBBH IP LIABILITIES
(IB AHOOBTS OF $100,000 OB HOBE) ISSUED
IT COMMERCIAL BANKS AND THBIFT IISTITUTIOIS, TEBH EOBODOLLABS HELD BT U.S. BESIDBBTS AT FOBEIGR BBARCHBS OF U.S. BARKS
hORLPVIDE ARD AT ALL BARKIRG OFFICES IR THE DRITED KIIGDOH ABD CANADA, ABD BALARCBS IR BOTH TAXABLE AID TAX-EXEHPT
INSTITDTIOH-OMLT HONET RARKET HOTUAL FUNDS, EXCLUDES AHOORTS HELD BT DEPCSITOBT INSTITUTIONS, THE U.S. GOTERNHENT, BONET
BABKET PONDS, AND FOBEIGN BARKS ARD OFFICIAL IRSTITUTIORS. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTBERT THAT BEPBBSERTS
THE ESTIHATED AHOONT OF OYEBRIGHT BPS AND EUBODOLLABS HBLO fil IRSTITUTIOB-OBLT HORET BUTUAL FORDS.
CONSISTS OF H3 PLOS THE NONBANK PUBLIC HOLDINGS OP U.S. SATIRGS BONDS, SBOBT-TERH TREASURY SECURITIES, COBHEBCIAL
PAPER ABD fiANKEBS ACCEPTANCES, BET OF BONEI HABKET BUTUAL FURD HOLDINGS OF TBESE ASSETS.
DEBT OF DOHESTIC RORFIRARCIAL SECTORS CONSISTS OF OUTSTANDING CBEDIT BABRET DEBT OF THE UBXTED STATES COfERNHENT.
STATE ARD LOCAL GOYEBRHERTS ARD PBIYATE RONFINANCIAL SECTOBS. PBIYATE DEBT CONSISTS OF COBPOBATE BONDS, HOBTGAGES,
CONSOHEB CBEDIT (INCLUDING BANK LOANS). OTHEB BARK LOANS, COHHEBCIAL PAPIR, EARKEBS ACCEPTANCES ARD OTHEB DEBT
INSTRUMENTS. THE SOUBCE OF DATA OR DOHESTIC RORFIRARCIAL DEBT IS THE FEDEBAL BESEBYE BOARD"S FLOH OF FUBDS ACCOUNTS.
DEBT DATA ABE OB AN END OF HORTH BASIS.




H.6 (508)
Table 3

COMPONENTS OF THE MONEY STOCK
Billions of dollars, seasonally adjusted

1

Date

Currency

Travelers
checks2

Demand
deposits3

Other
checkable
deposits4

Nontransactions
components
in M3
in M2*
only8

Savings deposits7
at
at
total
commercial
thrift
banks
institutions

Selected nontransactions items
Small time deposits'
at
at
commercial
total
thrift
banks
institutions

Large time deposits9
at
at
commercial
thrift
total
10
banks
institutions

1983-rPB.
MAR.

136.8
138.1

I1.3
(1.5

237.9
238.8

112.1
115.0

1562.9
1571.0

463.1

144. 1

325.6
322.2

337.5
327.1

416.3
406.1

753.7
733.2

233.0
229.2

297. 1

141.6

181.5
180.6

64.1

464.9

66.2

29S.4

APR.
HAY
JUNE

139.1
1U0.5
141.6

1.6
11.6
1.6

239.5
241.5
243.0

114.7
120.0
121.7

1583.9
1595.6
1606.1

468.8
468.8
476.0

140.6
140.4
140.0

181.3
182.6
182.8

321.9
323.1
322.8

323.2
321.2
322.3

404.2
401.4
402.5

727.4
722.6
724.8

228.4
224.5
226.9

69.9

73.5
76.0

298.3
298.0
303.0

JULY
AUG.
SEPT.

142.4
143.5
144.8

I1.6
1.7
14 . 7

244.5
243.7
243.0

123.4
125.6
126.4

1611.6
1617.9
1629.0

477.5
482.0
488.6

138.8
138.0
137.4

181.9
181.3
180.5

320.7
319.3
317.9

328.0
333.4
338.2

409.0
415.6
420.7

737.0
749.0
759.0

224.1
224.0
223.8

80. 1
84.5
89.4

304.2
308.6
313.2

OCT.
NOV.
DEC.

146.0
147.2
148.0

1.8
1.9
1.9

243.6
242.8
243.7

127.2
128.2
128.8

1645.6
1659.2
1670.8

489.9
506.9
511.4

137.0
136. 1
134.6

180.2
179.2
178.2

317. 1
315.4
312.9

344.8
350.0
353.1

428.2
435.5
440.0

77 3.0
785.5
793.1

221.7
224.2
225.6

93.9
96.6
100.3

315.6
320.7
325.9

149.9
150.2

11.9
11.9

244.5
243.8

130.7
133.9

1676.4
1689.0

514.7
521.9

132.1
130.2

177.7
176.4

309.8
306.6

352.9
352.8

444.1
448. 1

797.0
800.9

226.8
227.8

106. 1
111.7

332.9
339.4

1984-JAN.
PEB. P
WEEK ENDING
1984-PEB. 6

MAR.

1/
2/
3/

4/

V
6/
7/
8/
9/
10/

13
20
27P

150.3
150.3
150.4
150.4

244.3
243.3
246.1
243.0

133.1
134.3
133.4
135.2

130.8
130.3
130.0
129.7

352.8
353.0
352.7
353.1

225.0
227.1
228.8
229.2

5P

150.0

243.9

133.2

129.2

352.4

230.3

CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL IESERVE BANKS AND VAULTS OF COMMERCIAL BANKS. EICLUDES THE ESTIMATED
AMOUNT OP VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICF THEIR OCD LIABILITIES.
OUTSTANDING AHOUNT OF U.S. DOLLAR-DEBOHINATED TRAVELERS CHECKS OP NONBANK ISSUERS. TRAVELERS CHECKS ISStJED BY DEPOSITORY
INSTITUTIONS ABE INCLUDED IN DEMAND DEPOSITS.
fcEHAND DEPOSITS AT COMMERCIAL BANKS AND FOREIGN RELATED INSTITUTIONS OTHER THAN TH05E DOE TO DOMESTIC B*»KS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND FEDERAL RESERVE FLOAT.
EICLUDES THE ESTIMATED AMOUNT OF DEMAND DEPOSITS HELD AT COMMERCIAL BANKS BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD
LIABILITIES.
CONSISTS t)F NOV AND ATS BALANCES AT ALL DEPOSITORY INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND
DEMAND DEPOSITS AT TJ?RIFT INSTITUTIONS. OTHER CBECKftBLB DEPOSITS SEASONALLY ADJUSTED EQUALS THE DIFFERBNCr*BET*EEN THE
SEASONALLY ADJUSTED SUM OP DEMAND DEPOSITS PLUS OCD AND SEASONALLY ADJUSTED DEMAND DEPOSITS. INCLUDED ABE ALL CEILING
FREE ""StfPEN NOIS," AUTHORIZED BY TBE DEPOSITORY INSTITUTIONS DEREGULATION COMMITTEE TO BE OFFERED BEGINNING JANUARY 5,
SUM OP OYEBNIGBT IPS AND OVERNIGHT EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER),
VlHDAS, AND SAVINGS AND SHALL TIME DEPOSITS, LESS THE CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF
^F.IIAND DEPOSITS AND VAULT CASH HELD BY THBIPT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS LIABILITIES.
SUI1 OF LARGE TIME DEPOSITS, TERM RPS AND TERM EURODOLLARS OP U.S. RESIDENTS, MONEY MARKET FT1ND BALANCES (INSTITUTOINONLY), LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OP OVERNTGHT RPS AND EURODOLLARS HELD BY
INSTITUTION-ONLY MONEY MARKET FUNDS.
SAVINGS DEPOSITS EXCLUDE riHDAS.
SHALL DENOMINATION TIME DPPOSITS--INCLODING RETAIL R P S — ARE THOSE ISSUED IN AMOUNTS OF LESS THAN f100,000. ALL
INDIVIDUAL RETIREMENT ACCOUNTS (IRA) AND KEOGH ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS ARE SUPTRACTED FROM SHALL
TIME DEPOSITS.
LAPGE DFNOHINATION TIM? DEPOSITS ARE THOSE ISSUED IN AMOUNTS OP «100,000 OR MORE, EXCLUDING THOSE BOOKED AT
INTERNATIONAL BANKING FACILITIES.
LAFGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS THOSE HELD BY HONEY MARKET MUTUAL PONDS,
DEPOSITORY INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS.




H.«(SO*
T«Ma4

COMPONENTS OF LIQUID ASSETS ANO DEBT
•Ullons ol dollars, saasonaHy adjustad
Data

1/

3/
4/

Non-M3 comportents of L
bankars aooaptancas*
short-term traasury
sacuritias1

Oabtcoi*iponants*
non-fadaral dabt

68.*
68.8

187.6
189.6

•2.9
• 1.8

115.1
119.2

1016.9
1039.5

3750.6
3773.0

API*
HAT
JUBE

69.2
69.5
69.8

196. 4
198.S
206.8

• 1.3
411.0
•0.6

122.5
123.4
122.9

1052. 1
1074.9
1106.9

3797.6
3820.9
3851.2

JOLT
AOG.
SEPT.

70.1
70.3
70.5

219.6
222.9
221.6

• 1.6
•3.6
•3.8

124.4
121.0
125.3

1120.1
1136.1
1148.9

3882.1
3904.5
3934.8

OCT.
MOV.
DEC.

70.7
70.8
70.9

218.2
216.6
219.6

•2.8
•3.0
••.1

125.7
128.2
131.2

1162.9
1169.7
1177.9

3961.9
3996.5
•041.0

1983-FEB.
Bli.

2/

savings bonds

CONSISTS OP U.S. TREASURY BILLS AND COUPONS WITH REMAINING MATURITIES OF LESS THAI 12 HOMTHS HELD BY OTHBI THAN DEPOSITORY
INSTITUTIONS, FEDERAL RESERVE BARKS, HONEY MARKET MUTUAL PONDS AND FOBEI6N ENTITIES.
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL PESEBTB BANKS, FOREIGN OFFICIAL INSTITUTIONS,, THE FEDERAL
HONE LOAN BANK SYSTEM AND HONEY HARKET MUTUAL FUNDS.
TOTAL COMMERCIAL PAPER LESS COHHERCIAL PAPER HELD BY HONEY HARKET MUTUAL FUNDS.
DATA ARE ON AN END GF HONTH BASIS.




H.6 (508)
Table 3

COMPONENTS OF THE MONEY STOCK
Billions of dollars, seasonally adjusted
Nontransactions
components
in M3
only8
in M2S

Savings deposits7
at
at
total
commercial
thrift
banks
institutions

Selected nontransactions items
Small time deposits'
at
at
commercial
thrift
total
banks
institutions

Large time deposits9
at
at
commercial
thrift
total
0
banks'
institutions

Demand
deposits3

Other
checkable
deposits4

j1.3

I1.5

237.9
238.8

112.1
115.0

1562.9
1571.0

463.1
464.9

144.1
141.6

181.5
180.6

325.6
322.2

337.5
327.1

416.3
406.1

753.7
733.2

233.0
229.2

64.1
66.2

297. 1
295.4

139.1
140.5
141.6

1.6
I1.6
41.6

239.5
241.5
243.0

114.7
120.0
121.7

1583.9
1595.6
1606.1

468.8
468.8
476.0

140.6
140.4
140.0

181.3
182.6
182.8

321.9
323.1
322.8

323.2
321.2
322.3

404.2
401.4
402.5

727.4
722.6
724.8

228.4
224.5
226.9

69.9
73.5
76.0

298.3
298.0
303.0

JULY
AUG.
SEPT.

142.4
143.5
144.8

1i.s
11.7
14.7

244.5
243.7
243.0

123.4
125.6
126.4

1611.6
1617.9
1629.0

477.5
482.0
488.6

138.8
138.0
137.4

181.9
181.3
180.5

320.7
319.3
317.9

328.0
333,4
338.2

409.0
415.6
420.7

737.0
749.0
759.0

224.1
224.0
223.8

80.1
84.5
89.4

304.2
308.6
313.2

OCT.
NOV.
DP.C.

146.0
147.2
148.0

1.8
i1.9
11.9

243.6
242.8
243.7

127.2
128.2
128.8

1645.6
1659.2
1670.8

489.9
506.9
511.4

137.0
136.1
134.6

180.2
179.2
178.2

317.1
315.4
312.9

344.8
350.0
353.1

428.2
435.5
440.0

773.0
785.5
793.1

221.7
224.2
225.6

93.9
96.6
100.3

315.6
320.7
325.9

1984-JAN.
PEB. P

149.9
150.2

11.9
11.9

244.5
243.8

130.7
133.9

1676.4
1689.0

514.7
521.9

132.1
130.2

177.7
176.4

309.8
306.6

352.9
352.8

444.1
448.1

797.0
800.9

226.8
227.8

106. 1
111.7

332.9
339.4

VEEK EMDIRG
1984-FEB. 6
13
20
27P

150.3
150.3
150.4
150.4

244.3
243.3
246.1
243.0

133. 1
134.3
133.4
135.2

130.8
130.3
130.0
129.7

352.8
353.0
352.7
353.1

225.0
227.1
228.8
229.2

MAR. 5P

150.0

243.9

133.2

129.2

352.4

230.3

Date

1

Currency

Travelers
checks2

1983-PPB.
MAR.

136.8
138.1

APR.
NAY
JUNE

1/

CURBENCY OUTSIDE THE U.S. TREASURY, FEDERAL 1ESERVE BLANKS AND VAULTS OP COMMERCIAL BANKS. EXCLUDES THE ESTIMATED
AMOUNT*OF VAULT CASH HELD BY THRIPT INSTITUTIONS TO SERVICF THEIR OCD LIABILITIES.
2/ OUTSTANDING ABOUNT OP U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS OP NONBANK ISSUERS. TRAVELERS CHECKS ISSUED BY DEPOSITORY
INSTITUTIONS ARE INCLUDED IN DEHAND DEPOSITS.
3/ DEMAND DEPOSITS AT COMMERCIAL BANKS AND POREIGN RELATED INSTITUTIONS OTHER THAN THOSr DUE TO DOHESTIC BtiKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND PEDERAL RESERVE FLOAT.
EXCLUDES THE ESTIHATED AflOUNT OP DEMAND DEPOSITS HELD AT COHBERCIAL BANKS BY THRIPT INSTITUTIONS TO SERVICE THEIR QCD
LIABILITIES.
4/ CONSISTS OF NOW AND ATS BALANCES AT ALL DEPOSITORY INSTITUTIONS, C IfEDIT UNION SHARE DRAFT BALANCES AtD
DEMAND DEPOSITS AT THRIPT INSTITUTIONS. OTHER CHfCKIBLE DEPOSITS SEASONALLY ADJUSTED EQUALS THE DIFFERENCE BETWEEN THE
SEASONALLY ADJUSTED SUH OP DEMAND DEPOSITS PLUS OCD AND SEASONALLY ADJUSTED DEHAND DEPOSITS. INCLUDED ARE ALL CEILING
FREE "SUPEf* NO«S,« AUTHORIZED BY THE DEPOSITORY INSTITUTIONS DERE6ULATICN COMMITTEE TO BE OPPERED BEGINNING JANUARY 5,
T94U.
5/ SUH OP OVERNIGHT IPS AND OVERNIGHT EURODOLLARS, HONEY MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALS!),
HHDAS, AND SAVINGS AND SBALL TIME DEPOSITS, LESS THE CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIHATED AMOUNT OP
DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE TBEIR TIME AND SAVINGS DEPOSITS LIABILITIES.
6/ SUM OF LARGE TIME DEPOSITS, TERM RPS AND TERM EURODOLLARS OP U.S. RESIDENTS, HONEY MARKET FlfHD BALANCES (INSTITnTOINONLY) # LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AHOnNT OF OVERNTGHT RPS AND EURODOLLARS HELD BY
INSTITOTION-ONLY HONEY MARKET FUNDS.
7/ SAVINGS DEPOSITS EXCLUDE MHDAS.
8/ SMALL DENOMINATION TIME DEPOSITS—INCLUDING RETAIL RPS-- ARE THOSE ISSUFD IN AMOUNTS OF LESS THAN f100,000. ALL
INDIVIDUAL RETIREMENT ACCOUNTS (IRA) AND KEOGH ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS ARE SUBTRACTED FROM SHALL
TIME DEPOSITS.
9/ LAFGE DFNOMINATION TIHF DEPOSITS APE THOSE ISSUED IN AMOUNTS OF MOO,000 OR MORE, EXCLUDING THOSE BOOKED AT
INTERNATIONAL BANKING FACILITIES.
10/ LAPGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS THOSE HELD BY HONEY MARKET MUTUAL FUNDS,
DFPOSITOPY INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS.




Tib* 4

COMPONENTS OF LIQUID ASSETS AND DEBT
•Mttons ol dollars, saaaonalty adjustad

Data

savings bond*

4

Non-113 componants of L
shoft-tarm traasury
banfcars accaptancas*
•acuritias*

Dabtcoffiponants
fadaraldabt
non-fadaral dabt

1983-FEB.
BAB.

68.4
68.8

187.6
189.6

4 2 . S>
4 1 . 11

115.1
119.2

1016.9
1039.5

3750.6
3773.0

APR.
JUBE

69.2
69.5
69.8

196.41
198,5
206.8

*i.:
41#(
40.<

122.5
123.4
122.9

1052. 1
1074.9
1106.9

3797.6
3820.9
3851.2

JOLT
AUG.
SEPT.

70.1
70.3
70.5

219.6
222.9
221.6

•1.1
43.1
43.«

124.4
121.0
125.3

1120.1
1136.1
1148.9

3882.1
39041.5
3934.8

OCT.
NOV.
DEC.

70.7
70.8
70.9

218.2
216.6
219.6

•2.8
413.0
44.1

125.7
128.2
131.2

1162.9
1169.7
1177.9

3961.9
3996.5
4041.0

HAf

1/
2/
3/
V

CONSISTS OF U.S. TBEASURY BILLS AMD COUPONS WITH FEWAIHIMG MATURITIES OF LESS THAB 12 SOUTHS HELD BY OTHER THAI DEPOSITORY
INSTITUTIONS, FEDERAL RESERVE BARKS, HOMEY MARKET MUTUAL POMDS AMD FOREIGN EBTITIES.
MET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL RESEBYE BANKS, POBEI6M OFFICIAL IMSTIT0TIOBS, THE FEDERAL
HONE LOAN BANK SYSTEM AND HONEY MARKET HUTOAL FUNDS.
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BY HONEY MARKET MOTUAL FUNDS.
DATA ARE ON AN EMD GF MONTH BASIS.




H.6 (508)
Table 5

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

Date

Nontransactions components

Other checkable deposits

•

1

Currency

Travelers
checks2

Demand
deposits3

at commercial
banks4

at thrift
institutions5

total

in M2

6

in M3 only

Overnight
RPs»

7

Overnight
Eurodollars*

General
purpose and
broker/dealer
money market
funds

1983-PER.
NAB.

135.0
136.7

4. 1
4.3

231.9
234.3

83.5
86.5

26.1
27.3

109.5
113.9

1562.7
1577.4

466.9
465.5

40.6
40.9

7.9
7.8

160.6
154.8

APfi.
HAT
JURE

138.7
140.4
141.9

4.4
4.5
4.9

242.1
237.5
241.8

90.8
88.8
91.0

29.2
29.4
30.3

120.0
118.2
121.2

1587.2
1596.1
1608.3

466.0
469. 1
•73.1

42.6
46.0
46.7

8.2
9.4
9.4

148.2
141.4
140.2

JULY
AOG.
SEPT.

143.6
143.8
144.3

5.2
5.1
5.0

244.9
241.1
242.0

91.9
92.4
93.4

31.0
31.1
31.6

122.9
123.5
124.9

1615.2
1619.8
1626.0

472,1
482.3
488.8

43.5
42.0
42.8

9.6
10.4
10.7

138.7
139.1
137.9

OCT.
MOT.
DEC.

145.7
147.9
150.5

4.8
4.6
4.6

244.8
245.2
251.6

94.3
95.6
97.7

32.7
33.3
33.5

127.0
128.9
131.2

1644.8
1654.5
1660.1

488.6
508.9
515.7

45.3
44.9
44.9

11.7
10.3
11.2

137.5
138.8
138.2

148.4
148.3

4.6
4.6

249.4
237.9

99.2
97.8

33.3
33.3

132.5
131.0

1675.3
1689.9

516.8
524.7

46.7
47.8

11.4
10.9

137.9
142.2

1984-JAN.
FEB. P
WEEK ENDING:
1984-FEB.

6
13
20
27 P

148.5
148.9
148.7
147.2

242.1
238.9
237.2
234.0

98.4
98.3
97.5
96.8

33.9
33.3
33.0
32.7

132.3
131.5
130.5
129.5

46.2
46.5
50.4
48.3

9.5
11.4
11.3
11.2

139.6
141.6
142.9
143.8

HAR.

5P

149.1

241.0

99.8

34.6

134.4

45.9

10.5

143.9

1/

CURRENCY O0TSIDE THE U.S. TREASURY, FEDERAL RESERVE BANKS AND THE TAULTS OF COHHERCIAL BANKS. EXCLUDES THE ESTIHATED
AHO0NT OF fAOLT CASH HELD BY THBIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
3/ OUTSTANDING AMOUNT OF 0.S. DOLLAR-DRNOHINATED TRATELEPS CHECKS OF NONBANK ISSUERS. TRAVELERS CHECKS ISSUED BT DEPOSITORY
INSTITUTIONS ARE INCLUDED IN DEMAND DEPOSITS.
3/ DEflAND DEPOSITS AT COHHBRCIAL BANKS OTHFR THAN THOSE DOB TO DOMESTIC BANKS, THE D.S. GOVERNMENT AND FOREIGN BANKS AND
OFFICIAL INSTITUTIONS, LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND F.R. FLOAT, LESS THE ESTIHATED AHOONT OF DEMAND
DEPOSITS HELD AT COMMERCIAL BANKS BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
4/ CONSISTS OF NOW AND ATS BALANCES AT COHRERCIAL BANKS, U.S. BRANCHES AND AGENCIES OF FOREIGN BANKS, AND EDGE ACT
CORPORATIONS. INCLUDES SUPER NOUS OF $29.6 BILLION IN THE «EEK ENDED FEBRUARY 20, $29.5 BILLION IN THE WEEK ENDED
FEBRUARY 27, AND $30.1 BILLION IN THE IEER ENDED HARCH 55/ CONSISTS OF HOW AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND HUTUAL SAVINGS BANKS, CREDIT UNION SHARE
DRAFT BALANCES, AND DEHAND DEPOSITS AT THRIFTS» INCLUDES SUPER NONS OF $11.0 BILLION IN THE WEEK ENDED FEBRUARY 20, $10.9
BILLION IN THE WEEK FNDED FEBRUARY 27, AND $11.4 BILLION IN THE WEEK ENDED HARCH 5.
6/ SOH OF OVERNIGHT RPS AND EURODOLLARS, HONEY HARKET FUND BALANCES (GENERAL PHPPOSE AND BROKEP/DEALER) , HNDAS AND SAVINGS
AND SHALL TIME DEPOSITS LESS THE ESTIHATED AMOUNT OF DEHAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE
THEIR TIHE AND SAVINGS DEPOSIT LIABILITIES.
7/ SUfl OF LARGE TIHE DEPOSITS, TERN RPS AND EURODOLLARS OF U.S. RESIDENTS, MONEY HARKET FUND BALANCES (INSTITUTION-ONLY), LESS A
CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY INSTITUTION-ONLY
MONEY MAPKET MUTUAL FUNDS.
8/ CONSISTS OF OVERNIGHT AND CONTINUING CONTRACT RPS ISSUED BY COMMERCIAL PANKS TO OTHER THAN DEPOSITORY INSTITUTIONS AND
HONEY MARKET MUTUAL FUNDS (GENERAL PUPPOS? AND BROKER/DRAPER).
9/ ISSUED RY rOREIGN BRANCHES OF U.S. PANKS WORLDWIDE TO U.S. RESIDENTS OTHER THAN DEPOSITORY INSTITUTIONS AND
MONEY MAPKET WUTUAL EUNDS (GENFPAL PURPOSE AND BROKER/DEALER),




H.6 (508)
Table 5-continued

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

Date

Money market deposit accounts
at
at
thrift
total
commercial
institutions
banks

at
commercial
banks

Savings depositsT
at
thrift
institutions

total

Small denomination time deposits2
at
at
commercial
thrift
total
banks
institutions

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

1983-FEB.
BAR.

163.9
186.3

115.6
134.7

279.6
321.0

143.5
142.4

179.9
180.6

323.4
323.0

340.0
329.8

418.0
407.6

758. 0
737.4

235.3
230.1

63.9
65.6

299.2
295.6

APR.
NAT
JUNE

198.11
208.4
216.0

143.0
149.1
152.6

341.4
357.4
368.6

142.4
142.1
141.6

182.3
183.5
184.2

324.7
325.5
325.8

323.9
321.4
322.3

405.8
402.3
402.7

729.7
723.8
725.1

225.9
222.7
224.4

69. 1
73.2
75.3

295.0
295.9
299.8

JULY
AUG.
SEPT.

218.4
218.9
221.1

152.2
149.7
148.4

370.5
368.6
369.5

140.6
138.3
136.4

184.2
181.5
179.8

324.8
319.8
316.2

327.0
332.8
337.3

408.8
414.2
419.0

735.8
747.0
756.3

220.7
223.8
224.2

79.4
84.7
90.5

300.1
308.5
314.8

OCT.
NO*.
DEC.

223.4
227.1
230.1

147.1
145.8
146.0

370.5
372.9
376.0

135.8
133.7
132.0

180.1
178.3
176.5

316.0
312.0
308.5

343.9
348.9
351.0

427.5
434.2
437.6

771.4
783.1
788.6

222.1
225.5
229.1

95.8
98.3
100.7

317.9
323.7
329.8

234.2
238.4

146.3
147.9

380.5
386.2

131.3
130.0

176.1
175.2

307.4
305.2

353.7
3S5.4

445.7
450.0

799.4
805.3

229.0
229.2

105.5
110.9

334.5
340.1

1984-JAB.
FEB. P
WEEK EHDIHG
1984
FEB.

BAR.

1/
2/
3/
U/

6
13
20
27 P

236.2
237,7
238.9
239.6

130.4
130.2
129.9
129.6

355.2
355.5
355.3
355.4

226.8
228.7
229.8
230.4

5P

240.9

129.8

355.4

231.2

SAVINGS DEPOSITS EXCLUDE HHDAS.
SHALL DENOMINATION TIHE DEPOSITS — INCLUDING RETAIL RPS — ARE THOSE ISSUED IN AHO0WTS OF LESS THAN $100*000. ALL
INDIVIDUAL RETIREMENT ACCOUNTS (IRA) AND KEOGH ACCOUNTS AT COBBERCIAL BANKS AND THRIFTS ARE SUBTRACTED PRON SHALL
TIHE DEPOSITS.
LARGE DENOMINATION TIHE DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF 1100,000 OR MORE, EXCLUDING THOSE BOOK*!) AT INTERNATIONAL
BANKING FACILITIES (IBFS).
LARGE DENOMINATION TIHE DEPOSITS AT COHHERCIAL BANKS LESS THOSE HELD BY HOUET HARKET MUTUAL rUNDS, DEPOSITORY
INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS.




H.6 (508)
Table 5-continued

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

Date

Institutiononly money
market funds

at commercial
banks

Term RPs1
at thrift
institutions

total

Term
Eurodollars2

Savings
bonds

Short-term
treasury
securities3

Bankers
acceptances4

Commercial
paper4

Federal debt

Non-Federal
debt

45.4
44.0

28.7
29.3

11-7
12.2

40.4
41.5

86.0
88.7

68.5
68.7

193.5
195.2

43.5
41.5

116.6
119.1

1015.7
1047.0

3732.5
3750.2

APR.
HAY
JUNE

41.3
40.5
39.5

30.4
32.6
31.5

12.5
13.0
13.9

42.9
45.6
45.5

91.4
92.3
91.9

69.0
69.3
69.6

200.3
199.5
204.4

40.7
40.4
40*1

122.8
124.2
123.3

1049.7
1068.2
1093.9

3777.2
3803.0
3839.3

JOLT
AUG.
SEPT.

38.6
38.4
38.9

29.6
31.6
31.9

14.8
15.2
16.1

44.3
46.9
48.0

92.1
91.9
90.5

69.9
70.2
70.4

214.1
217.9
216.7

40.9
43.1
43.8

123.7
123.9
123.5

1105.8
1126.3
1141.8

3869.8
3893.0
3929.8

OCT.
NOT.
DEC.

39.8
40.6
40.3

30.6
35.3
36.6

16.7
18.1
19.6

47.3
53.4
56.2

87.5
93.9
92.9

70.7
71.0
71.2

216.2
215.0
219.1

43.0
43.4
45.5

124.8
129.2
131.6

1153.5
1162.4
1177.9

3958.5
3992.7
4041.0

40.6
41.6

34.0
35.3

19.3
19*2

53.3
54.5

91.0
91.5

1983-PEB.
MAR.

1984-JAN.
FEB.

P

MEEK ENDING:

1984-PBB.

6
13
20
27 P

41.1
41.6
41.6
41.9

35.3
37.6
34.3
34.7

MAS.

5 P

41.6

33.3

1/
2/

TERM RPS ABE THOSE ilTH ORIGINAL HATORITIES GREATER THAN ONE DAT, EXCLODING CONTINUING CONTRACTS AND BETAIL RPS.
TERM EURODOLLARS ARE TBOSB WITH ORIGINAL MATURITIES GREATER THAN ONE DAT. CONSISTS OP THOSE ISSUED TO O.S. RESIDENTS BT
POREIGN BRANCHES OF U.S. BANKS WORLDSIDE AND BT ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA. EXCLUDES THOSE HELD
BY DEPOSITORT INSTITUTIONS AND MONET MARKET MUTUAL PUNDS.
3/ CONSISTS OF U.S. TREASURT BILLS AND COUPONS WITH REMAINING MATURITIES OP LESS THAN 12 MONTHS HELD BT OTHER THAI DEPOSITORT
INSTITUTIONS, FEDERAL RESER7E BANKS. MONET MARKET MUTUAL FUNDS, AND FOREIGN ENTITIES.
U/ NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL
HOHE LOAN BANK STSTEH AND MONET MARKET MUTUAL FUNDS.
5/ TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BT MONET MARKET MUTUAL FUNDS.




H.6 (508)
Table 6

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

foreign
commercial
banks

Date

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

1983-FEB.
HAH.

7.7
7.9

2.0
1.9

8.3
8.0

2.8
2.7

3.2
3.3

7.4
10.4

13.4
16.5

1.0
1.0

20.1
22.1

30.6
32.0

4.8
4.9

55.4
59.1

APR.
HAT
JUNE

7.6
7.7
8.1

2.0
1.9
1.9

7.7
7.5
7.4

3.9
2.5
3.4

3.8
3.6
3.4

10.3
10.0
9.8

18.0
16.0
16.6

1.1
0.9
0.9

25.2
26.4
26.9

33.5
34.5
35.2

5.2
5.2
5.1

63.9
66.0
67.2

JOLT
AUG.
SEPT.

8.2
7.9
8.1

2.0
2.0
2.0

7.3
7.3
7.3

2.8
2.4
3.2

4.2
3.5
7.4

19.1
14.0
14.8

26.0
19.9
25.3

0.8
0.8
0.8

27.5
28.0
28.5

36.0
36.7
37.6

5.0
5.1
5.0

68.4
69.8
71.1

OCT.
HOT.
DEC,

8.0
8.4
8.2

1.9
2.0
2.0

7.1
7.2
7.1

2.7
2.7
3.0

7.1
2.9
3.6

22.0
4.7
7.8

31.8
10.4
14.4

0.8
0.7
0.7

28.9
29.5
30.1

37.8
38.3
39.5

5.1
5.1
5.0e

71.8
72.9
74.6e

8.3
8.5

1.8
2.0

7.0
6.8

3.1
3.0

4.7
4.3

16.5
19.2

24.2
26.5

0.9
0.9

31.0
32.7

41.0
42.8

5.2e
5.3e

77. 2e
80.9e

6
13
20
27 P

8.6
7.7
8.7
9.0

1.8
1.9
2.0
2.1

6.8
6.8
6.8
6.8

4.2
2.4
2.8
2.8

4.6
4.4
4.2
4.3

19.9
15.9
20.2
21.5

28.8
22.7
27.2
28.6

0.9
0.9
0.9
0.9

5P

8.6

2.1

6.8

3.1

3.6

17.2

23.9

0.9

198V-JAN.
PEB.
VEER

1984
FEB.

HAR.

P

EWDIMG:

e = estimated




Supplementary Table 2
Levels and Annual Growth
Rates of Ml Using Current* and Experimental
Alternative^ Seasonal Adjustment Procedures^
(Monthly average)

Levels in billions
of dollars
Experimental
Current
Alternative
1983 - February

Annual growth
rates in percent
Current
Experimental
Alternative

491.1

491.1

14.8

18.1

March

496.4

496.8

13.0

13.9

April

497.9

499.7

3.6

7.0

May

506.6

508.2

21.0

20.4

June

510.9

510.8

10.2

6.1

July

514.9

515.6

9.4

11.3

August

517.4

516.5

5.8

2.1

September

518.9

516.5

3.5

0.0

October

521.6

520.7

6.2

9.8

November

523.0

521.6

3.2

2.1

December

525.3

524.1

5.3

5.8,

530.0

528.6

10.7

10.3

532.9

532.8

6.6

9.5

1984 - January
February

1. Current monthly seasonal factors are derived using an X-11/ARIMA-based procedure.
2. Alternative monthly seasonal factors are derived using an experimental modelbased procedure. This procedure uses a combination of statistical regression
and time series modeling techniques to construct seasonal factors that are more
sensitive than the current 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.
3. Seasonal factors for both procedures have been revised using data through
December 1983.