Full text of H.6 Money Stock Measures : March 19, 1992
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FEDERAL RESERVE statistical release .,'.6 ( 5 0 8 ) Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES MARCH 1 9 , 1992 Ullions of dollars Date Ml 1 M2 2 M3 3 L* DEBT5 Seasonally adjusted 1990-MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 803.7 807.3 806.2 809.7 810.1 816.2 822.9 822.3 823.8 826.1 3271.0 3280.6 3283.6 3292.3 3300.2 3315.8 3331.0 3334.5 3333.7 3339.0 4074.3 4079.5 4079.5 4083.3 4090.9 4106.0 4115.4 4117.0 4115.6 4114.6 4911.1 4922.7 4906.5 4927.3 4930.1 4939.4 4964.2 4962.5 4960.2 4966.6 10246.8 10310.0 10361.7 10427.7 10489.9 10555.0 10607.7 10645.5 10699.2 10739.1 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 3394.4 3405.6 3411.8 3407.4 3409.5 3411.5 3417.9 3432.5 3441.3 4125.8 4160.2 4165.9 4168.4 4170.5 4167.7 4157.3 4156.6 4152.6 4159.5 4168.8 4174.2 4981.8 5008.6 5004.2 4978.0 4958.3 4986.4 4991.3 4985.0 4974.2 4978.2 4992.1 4991.2 10767.9 10816.4 10852.5 10874.4 10926.8 10978.2 11014.8 11056.4 11094.3 11135.6 11177.2 11205.5 1992-JAN. FEB. p 910.3 930.7 3450.8 3477.8 4179.2 4203.5 4987.1 p 11229.3 p Not seasonally adjusted 1990-MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 795.9 817.6 796.9 810.4 812.5 814.2 818.7 817.6 826.1 844.1 3271.0 3295.6 3266.5 3288.5 3303.7 3315.6 3323.8 3330.4 3336.9 3351.9 4078.0 4091.7 4065.2 4080.8 4092.4 4109.7 4108.9 4109.2 4118.5 4124.7 4916.0 4932.9 4891.2 4916.0 4921.6 4934.3 4956.0 4953.7 4967.8 4986.4 10208.4 10268.6 10315.0 10378.8 10441.1 10503.6 10560.0 10608.9 10671.2 10726.3 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 3351.3 3358.3 3388.4 3410.4 3388.7 3408.0 3410.5 3409.0 3403.7 3413.3 3435.7 3455.1 4129.7 4150.8 4171.6 4182.6 4156.9 4165.2 4158.6 4160.0 4144.9 4150.3 4171.0 4184.9 4999.8 5003.5 5011.5 4990.5 4943.3 4974.4 4982.9 4979.5 4965.1 4968.1 4999.5 5011.4 10756.1 10786.7 10815.5 10834.2 10880.4 10928.6 10964.2 11004.6 11048.3 11097.2 11146.8 11192.9 1992-JAN. FEB. p 918.0 916.5 3458.7 3465.0 4184.3 4193.0 5005.2 p 11216.9 p Footnotes appear on the f o l l o w i n g 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 17.6 5.3 3.3 3.4 6 Months from AUG. 1991 TO FEB. 1992 14.8 4.0 2.3 3.9 12 Months from FEB. 1991 TO FEB. 1992 11.3 3.2 1.0 4.3 3 Months from NOV. 1991 TO FEB. 1992 Thirteen weeks ending MARCH 9, 1992 from thirteen weeks ending: DEC. 9, 1991 (13 weeks previous) 14.9 4.4 2.5 SEP. 9, 1991 (26 weeks previous) 12.5 3.0 1.4 MAR. 11, 1991 (52 weeks previous) 10.3 3.1 1.2 1. Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, October 1991 to January 1992, July 1991 to January 1992, and January 1991 to January 1992, respectively. Footnotes to Table 1 1. 2. 3. 4. 5. Consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions J (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 foreign 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 ins titut ions, 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 institut ion-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 adjusted Ml 13-week average 4-week average 1991-DEC. 16 23 30 885.9 888.0 890.0 895.8 897.0 898.2 1992-JAN. 6 13 20 27 891.9 894.1 896.3 898.7 FEB. 3 10 17 24 Period entding MAR. 2p 9p M3 M2 week average week average 13-week average 4-week average 3446.5 3443.3 3439.1 4164,0 4166.1 4167.5 4176.0 4176.7 4174.7 4183.5 4176.1 4165.3 3442.6 3442.5 3444.5 3448.7 3441.5 3446.1 3451.4 3455.6 4167.7 4168.8 4170.3 4172.8 4170.6 4168.5 4169.8 4176.4 4157.4 4175.2 4181.1 4191.8 3443.6 3447.3 3450.9 3454.2 3454.5 3461.9 3469.2 3475.3 3464.9 3475.8 3480.4 3479.9 4175.4 4178.0 4181.8 4183.4 4185.7 4191.8 4201.0 4201.7 4194.7 4199.4 4218.2 4194.3 3457.4 3460.7 3479.3 3481.4 3481.0 3484.2 4185.9 4188.1 4204.5 4205.2 4206.2 4202.0 13-week average 4-week average 897.6 898.9 899.5 3425.8 3428.3 3430.7 3440.8 3442.5 3442.5 899.7 902.0 904.8 908.7 902.9 906.5 910.2 915.2 3433.0 3435.1 3437.5 3440.3 901.4 904.3 907.4 910.5 913.3 918.4 923.7 928.5 921.1 927.1 931.4 934.2 913.6 916.8 931.9 935.0 935.0 939.2 week average Not seasonally adjusted Ml 13-week average 4-week average 1991-DEC. 16 23 30 885.3 890.1 895.1 904.3 913.0 917.0 1992-JAN. 6 13 20 27 899.7 903.4 906.4 909.1 FEB. 3 10 17 24 Period entding MAR. 2p 9p M3 M2 week average 13-week average 4-week average 914.9 917.2 920.6 3424.9 3429.7 3434.7 3448.5 3454.2 3455.6 924.0 927.2 926.6 921.2 943.3 927.6 914.8 898.9 3438.8 3442.5 3445.8 3449.1 910.7 912.7 914.5 916.6 912.5 910.9 911.8 914.8 908.6 921.1 918.5 910.9 917.6 919.3 916.9 921.0 917.2 937.2 week average 13-week average 4-week average 3463.4 3450.0 3447.0 4160.8 4164.9 4168.7 4183.0 4186.5 4184.6 4197.0 4178.8 4169.7 3458.9 3460.7 3463.0 3461.1 3475.2 3470.6 3459.1 3439.6 4170.3 4173.1 4176.0 4179.1 4181.0 4181.5 4183.7 4185.0 4178.5 4198.9 4187.8 4174.7 3451.3 3454.0 3456.0 3458.3 3455.4 3455.6 3457.9 3462.5 3452.3 3471.3 3468.5 3457.9 4181.1 4183.1 4185.5 4186.1 4186.5 4186.7 4191.5 4191.0 4184.6 4199.7 4207.0 4172.5 3460.3 3462.2 3466.0 3470.2 3466.3 3488.0 4187.5 4188.8 4193.7 4196.1 4195.5 4209.5 week average Note: Special caution should be taken in interpreting week-to-week changes in money supply data> which are highly volatile and subject tc revision. p—indicates preliminary data. H.6 (508) Table 4 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT B i l l i o n s of d o l l a r s , seasonally adjusted Nontransact ions components Other checkable deposits Date Currency J Travelers checks55 Demand deposits3 At commercial banks* 8.4 8.3 8.3 278.1 277.4 277.1 205.9 207.0 208.7 At thrift institutions5 Total I n M26 In M3 only7 85.7 85.7 85.2 291.6 292.6 293.9 2512.2 2509.9 2512.9 782.6 781.9 775.6 1990-OCT. NOV. DEC. 244.2 245.4 246.8 1991-JAN. FEB. MAR. 251.5 254.6 256.0 271.8 275.9 276.9 209.5 211.6 214.6 85.2 85.8 86.6 294.6 297.5 301.3 2517.8 2533.3 2544.7 781.8 790.8 779.0 APR. MAY JUNE 256.3 256.6 257.6 276. 278, 280. 215.4 220.2 223.5 87.1 87,6 88.2 302.5 307.8 311.6 2551.6 2554.7 2554.5 774. 764. 755. JULY AUG. SEP. 259.3 261.3 262.9 279. 280. 280. 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. 747. 741. OCT. NOV. DEC. 264.8 266.0 267.3 283.8 287.6 289.5 235.4 239.2 241.6 89.1 90.5 91.6 324.5 329.7 333.2 2537.0 2541.1 2543.2 741.5 736.4 732.9 293.8 305.1 245.8 250.6 93.1 95.3 338.9 345.9 2540.5 2547.1 728.4 725.8 268.9 269.3 269.9 291. 294. 296. 245.7 246.6 246.7 91.8 92.1 94.4 337. 338. 341. 2539.5 2541.2 2540.4 729.2 729.8 736.3 270.4 271.4 272.0 271.6 298. 301. 305. 308. 248.4 251.2 250.2 251.3 95.5 95.2 95.4 94.8 343.9 346.4 345.7 346.1 2543.8 2548.7 2549.0 2545.7 729.8 723.6 737.9 714.4 271.6 271.8 308.5 308.8 252.0 254.8 94.8 95.7 346.8 350.5 2546. 2545. 725.2 717.8 1992-JAN. FEB. P 269.4 27X.6 8.2 8.X Week ending 1992-JAN. 13 20 27 FEB. 3 10 17 24 MAR. % 1. 2. 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 foreian-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 foreiqn 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 overniaht 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 overniaht 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 At At commercieil thrift banks institutions Date Large-denomination time deposits 3 Small-denomination time deposits2 Savings deposits 1 Total At At thrift commercial institutions banks Total General purpose and broker/dealer money market funds Institutiononly money market funds At At thrift commercial institutions banks 4 Total 1990-OCT. NOV. DEC. 575.3 578.2 581.9 343.7 341.9 338.8 919.0 920.1 920.7 595.1 597.6 606.4 571.9 569.7 562.3 1167.0 1167.3 1168.7 344.6 345.2 348.9 127.8 128.8 133.7 379.1 378.6 374.0 128.0 125.1 120.9 507.1 503.8 494.9 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 602.8 609.6 617.3 350.2 356.6 359.6 953.0 966.1 976.8 617.2 615.9 617.8 542.1 535.0 522.8 1159.4 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. 645.7 655.4 664.8 369.3 373.3 377.7 1015.0 1028.7 1042.5 614.1 606.4 598.5 481.6 474.2 466.6 1095.6 1080.5 1065.1 359.3 359.5 360.5 168.2 173.6 179.1 362.6 357.1 354.0 87.4 85.1 83.1 450.0 442.2 437.0 675.9 688.7 385.3 395.4 1061.3 1084.1 587.6 575.7 457.4 445.7 1045.0 1021.4 360.0 363.7 182.4 188.2 346.4 342.8 81.4 79.0 427.8 421.8 1992-JAN. FEB. P Heek ending *;'• 1992-JAN. 13 20 27 674.1 677.0 679.5 383.4 385.3 387.9 1057.4 1062.3 1067.4 590.3 587.7 583.7 459.7 456.5 454.2 1050.0 1044.2 1037.9 358.0 359.8 363.3 182.3 185.4 188.3 345.7 346.2 346.9 81.8 81.2 81.0 427.5 427.4 427.9 682.3 687.3 £90. 2 690.5 390.6 393.2 395.7 396.8 1072.9 1080.5 1086.0 1087.3 580.8 578.1 575.6 573.8 451.4 447.9 445.6 443.7 1032.2 1026.0 1021.1 1017.5 364.6 363.5 363.8 363.4 191.8 189.5 194.2 178.0 345.2 343.0 343.2 342.4 80.4 79.6 79.1 78.4 425.6 422.6 422.3 420.9 690.0 398.6 401.2 1088.5 1094.8 572.4 570.1 442.0 439.9 1014.4 1010.0 363.9 360.2 190.1 182.1 341.2 341.6 78.0 77.3 419.2 418.9 FEB. MAR. 3 10 17 24 2P 9p \\r< 1. 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 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. Large^denomination time deposits at commercial banks less those held by money market mutual funds> depository institutions, and foreign banks and official institutions, -indicates preliminary data. H.6 (508) Table ^-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars> seasonally adjusted 6 Non-M3 Components of L Date Savings bonds Short-term Treasury securities1 Bankers acceptances2 1990-OCT. NOV. DEC. 124.5 125.2 126.0 330.3 330.3 332.7 32.9 33.8 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. 1992-JAN. p 1. Debt components Federal debt Non-Federal debt 357.7 355.2 359.3 2441.4 2470.9 2493.6 8204.1 8228.3 8245.5 35.3 34.6 32.1 363.4 357.1 353.8 2509.1 2537.5 2551.5 8258.8 8278.9 8301.1 307.3 299.5 325.1 30.6 29.1 28.1 341.6 327.9 333.0 2547.4 2572.5 2606.7 8327.0 8354.4 8371.5 133.5 134.4 135.2 332.7 330.4 322.9 28.1 27.2 25.8 339.8 336.3 337.7 2633.5 2667.0 2694.4 8381.3 8389.4 8399.8 136.1 137.1 137.9 321.2 323.7 316.1 25.3 24.5 23.3 336.2 337.9 339.7 2723.8 2748.3 2766.0 8411.8 8428.9 8439.6 138.9 310.9 23.2 334.8 2780.1 8449.2 Commercial paper3 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. 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. 2. 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 deposiHts At commercial banks* In M2 6 In M3 only7 Overnight RPs 8 Overnight Eurodollars9 85.3 85.8 85.4 288.3 291.8 296.9 2512.8 2510.8 2507.8 778.8 781.6 772.8 66.0 60.5 55.0 17.7 17.4 19.7 213.6 211.5 215.8 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 20.2 277.7 271.7 279.9 222.6 217.2 222.0 89.2 87.7 89.0 311.8 304.9 311.0 2557.4 2547.0 2549.9 772.2 768.1 757.2 50.0 51.3 52.3 19.6 17.1 15.6 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 14.6 263.1 266.3 270.0 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 2537.9 2541.8 2537.9 737.0 735.4 729.8 53.2 53.8 53.1 16.3 19.5 22.6 267.8 269.5 7.8 7.8 300.0 296.3 250.7 250.4 91.7 92.4 342.4 342.8 2540.7 2548.5 725.6 728.0 55.3 57.6 22.2 19.9 268.5 268.0 266.5 7.8 7.8 7.8 303.9 296.6 290.3 254.3 251.3 245.4 93.1 91.1 89.0 347.3 342.4 334.4 2543.0 2544.2 2540.7 728.3 728.7 735.1 54.1 55.9 SB.7 22.1 21.6 20.6 267.1 270.4 270.5 268.8 7.8 7.8 7.8 7.8 295.0 296.0 298.3 294.3 247.3 253.1 249.7 249.1 91.4 93.9 92.2 91.0 338.7 346.9 341.9 340.1 2543.7 2550.2 2550.0 2546.9 732.3 728.3 738.5 714.6 57.3 57.9 57.2 58.1 21.3 20.1 19.9 18.6 268.8 272.1 7.8 7.8 e 296.9 302.5 250.6 257.8 93.1 97.0 343.7 354.8 2549.1 2550.8 729.2 721.5 57.2 54.8 20.5 20.4 Travelers checks 2 Demand deposits3 Date Currency 1990-OCT. NOV. DEC. 242.7 245.7 249.5 8.4 8.0 7.8 278.2 280.6 289.9 202.9 206.0 211.5 1991-JAN. FEB. MAR. 249.8 252.6 255.6 7.8 7.8 7.8 277.4 268.0 270.1 APR. MAY JUNE 256.0 257.4 259.1 7.5 7.8 8.1 JULY AUG. SEP. 260.8 262.0 261.7 OCT. NOV. DEC. 1992-JAN. FEB. P At thrift institutions5 Total 1 Meek ending 1992-JAN. 13 20 27 FEB. MAR. 3 10 17 24 2P 9p 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. Demand deposits at commercial banks and foreian-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 NOH and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 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. 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. 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). 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), -indicates estimated data, -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 At thrift commercis»1 institutions banks Date Small-denomination time deposits2 Total At At commercial thrift banks institutions Total Large-denomination time depos its 5 At At General purpose Institutionthrift and broker/dealer only money commercial money market funds market funds banks'* institutions Total 1990-OCT. NOV. DEC. 574.5 578.3 580.0 343.3 342.0 337.7 917.8 920.2 917.7 596.0 598.0 606.3 572.7 570.1 562.2 1168.7 1168.1 1168.5 342.6 344.5 346.8 124.2 128.4 134.4 379.5 378.8 373.0 128.1 125.2 120.6 507.6 504.0 493.5 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 604.9 609.3 620.0 351.4 356.4 361.1 956.4 965.8 981.1 616.7 614.2 615.7 541.7 533.5 521.0 1158.4 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. 644.6 655.3 662.3 368.7 373.2 376.3 1013.3 1028.5 1038.6 615.2 606.9 598.7 482.5 474.6 466.7 1097.6 1081.4 1065.4 357.4 358.6 358.1 163.4 172.7 180.3 362.8 356.9 352.8 87.4 85.1 82.8 450.2 441.9 435.5 672.3 685.0 383.2 393.2 1055.5 1078.2 589.4 577.2 458.8 446.8 1048.2 1024.0 359.5 368.8 188.1 196.9 344.0 341.7 80.8 78.8 424.9 420.5 673.2 673.6 672.8 382.9 383.4 384.1 1056.1 1057.0 1056.9 592.4 589.6 585.3 461.4 458.0 455.4 1053.7 1047.5 1040.7 357.0 362.3 366.9 189.0 193.8 197.2 343.8 343.6 344.1 81.4 80.6 80.3 425.1 424.2 424.4 676.1 683.8 686.8 686.4 387.0 391.2 393.8 394.5 1063.1 1075.0 1080.6 1080.9 582.5 580.1 577.2 574.8 452.7 449.4 446.9 444.6 1035.2 1029.5 1024.1 1019.4 366.8 367.6 368.2 369.9 199.3 198.8 203.1 185.8 342.3 341.8 342.3 341.7 79.8 79.4 78.9 78.3 422.1 421.2 421.2 420.0 687.6 694.7 397.2 401.8 1084.7 1096.5 573.2 570.6 442.6 440.2 1015.8 1010.9 370.8 368.3 199.5 188.5 340.5 342.0 77.8 77.3 418.4 419.4 1992-JAN. FEB. P Heek ending 1992-JAN. 13 20 27 FEB. MAR. 3 10 17 24 2P 9p 1. 2. 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 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. Large-denomination 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 At At commercial thrift banks institutions Date Debt components6 Non-M3 Components of L Total Term Eurodollars2 Savings bonds Short-term Treasury securities3 Bankers acceptances4 Commercia paper5 Federal debt Non-Federal debt 1990-OCT. NOV. DEC. 51.3 53.1 48.1 44.3 42.5 41.5 95.6 95.6 89.6 67.8 67.5 68.7 124.2 125.0 125.8 334.5 339.6 345.1 32.8 34.6 35.7 353.0 350.3 355.1 2424.4 2461.5 2491.3 8184.4 8209.7 8235.0 1991-JAN. FEB. MAR. 48.4 48.5 48.1 40.3 38.2 35.4 88. 86. 83. 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, 2540. 2553, 8245, 8246. 8262. APR. MAY JUNE 49.1 48.3 49.X 33.1 32.1 29.3 82. 80. 78. 65. 62. 61. 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, 2560. 2586. 8289.7 8319.8 8342.2 JULY AUG. SEP. 49.6 48.9 48.1 29.2 29.4 28.6 78.8 78.4 76.7 62. 63. 61. 133.6 134.3 135.0 324, 324. 323, 27. 27. 25. 338.8 333.1 335.8 2609. 2642. 2673. 8354.8 8361.7 8375.1 OCT. NOV. DEC. 48.9 48.0 47.1 26.6 25.6 23.8 75. 73. 70. 63. 62. 58. 135.9 136.8 137.7 325. 332. 328. 25. 25. 24. 331.5 333.8 335.8 2707.6 2740.7 2764.9 8389.6 8406.1 8428.0 48.1 48.7 22.8 23.2 70.9 71.9 57.3 57.8 138.8 p 319.7 p 23.7 p 338.7 p 2782.0 p 8434.9 p 1992-JAN. 13 20 27 48.9 48.1 47.8 23, 23. 23. 72, 71, 71, 57, 55. 57, FEB. 3 10 17 24 47.9 48.2 49.7 48.2 22. 23. 23. 23. 58. 58. 57. 56. MAR. 48.8 48.8 22. 24. 70. 71, 73, 71.8 71, 72, 1992-JAN. FEB. P Heek ending 2p *P 59. 57. 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. 5. Tota1 commercial paper less commercial paper held by money market mutual funds. 6. 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 det*. H.6 ( 5 0 8 ) Table 6 MEMORANDUM ITEMS 10 Billions of dollars, not seasonally adjusted Demand deposits at banks due to Date IRA and Keogh Accounts U.S. government deposits Time and savings deposits due to Foreign Foreign foreign banks commercial official and official banks institutions institutions Demand deposits at commercial banks Balance at Federal Reserve Note balances at depository institutions Total cash balance Time and savings At deposits At at commercial commercia 1 m thrift banks banks institutions At money market funds Total 1990-OCT. NOV. DEC. 9.3 9.2 9.0 1.6 1.5 1.5 4.0 3.9 4.1 3.5 3.8 5.0 5.5 5.6 5.2 17.5 15.4 18.1 26.4 24.8 28.2 1.4 1.4 1.4 126.8 128.6 130.3 133.9 133.8 133.4 40.5 41.8 43.3 301.2 304.2 307.0 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 8.5 8.2 7.6 1.5 1.5 1.5 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 1.5 137.6 138.9 140.3 135.2 135.5 135.4 44.3 44.9 43.9 317.1 319.3 319.6 JULY AUG. SEP. 8.0 7.9 7.8 1.5 1.5 1.5 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. 7.7 7.9 6.1 1.5 1.5 1.7 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 1.5 145.9 147.0 147.7 130.7 e 129.8 e 129.0 e 43.4 43.0 42.3 320.0 • 319.9 « 319.1 t 8.3 7.6 1.7 1.6 6.6 6.6 5.2 4.3 7.4 6.2 27.9 20.9 40.5 31.4 1.8 2.0 148.3 148.7 128.7 e 127.8 e 42.2 e 42.5 e 319.2 • 319.1 « 8.0 8.3 8.5 1.5 1.6 1.7 6.6 6.6 6.6 4.0 6.1 5.2 5.5 5.9 8.1 20.5 25.2 34.5 30.1 37.2 47.8 1.9 1.9 1.9 7.9 7.6 7.2 7.9 1.6 1.8 1.4 1.5 6.6 6.6 6.6 6.6 5.4 3.6 4.1 4.3 9.2 6.9 5.9 5.3 35.3 23.5 20.7 16.8 49.9 33.9 30.7 26.5 1.9 1.9 1.9 2.0 7.4 7.5 1.5 1.4 6.6 6.5 4.7 3.5 5.3 5.8 14.7 14.3 24.7 23.6 2.0 2.2 1992-JAN. FEB. P * Week ending 1992-JAN. 13 20 27 FEB. MAR. 3 10 17 24 2p 9p e—indicates estimated data, p--indicates preliminary data. H.6 (508) Special Supplementary Table Monthly Survey of Selected Deposits l January 29,1992 and February 26,1992 (not seasonally adjusted) Insured C o m m e r c i a l B a n k s Amount Outstanding ($mil.) Change (percent) Average Rate Paid (%) Change (b.p.) Liability Categories Jan. 29 Feb. 26 NOW Accounts 242,047 246,894 2.00 3.37 3.24 -13 665,413 519,751 679,433 530,585 2.11 2.08 3.93 N.A. 3.78 N.A. -15 N.A. 145,662 148,848 2.19 N.A. N.A. N.A. Savings Deposits Personal Nonpersonal 2 Interest-bearing time deposits with balances of less than $100,000 with original maturities of: 7 to 91 days 92 to 182 days 183 days to 1 year 1 to 2-!/2 >*ear 2-]/2 years a n ( l o v e r All IRA/Keogh Plan deposits3 Jan. 29 Feb. 26 46.363 46.981 1.33 3.85 3.77 -8 154,487 202,681 168,864 152.917 195,661 -1.02 4.00 -8 155,615 169,360 155,509 0.29 -0.07 4.07 4.26 4.61 5.30 4.23 4.60 5.37 -3 -1 7 148,791 148.648 -0.10 N.A. N.A. N.A. -3.46 BIF-insured S a v i n g s B a n k s 4 Amount Outstanding ($mil.) Liability Categories NOW Accounts Savings Deposits Personal 2 Nonpersonal Interest-bearing time deposits with balances of less than $100,000 with original maturies of: 7 to 91 days 92 to 182 days 183 days to 1 year Change (percent) Feb. 26 9,315 9,415 1.08 3.99 3.68 -31 73,353 70,579 2,774 75.169 72.255 2,913 2.48 2.38 5.04 4.61 N.A. 4.30 N.A. -31 N.A. N.A. N.A. N.A. 4,468 22,018 28,058 4.191 20.975 26,286 4.32 4.41 4.17 -16 -17 -22 1 to 2-7 2 year 24.568 24.922 2-7i years and over 19.322 20.311 5.12 23.138 23.015 -0.53 All IRA/Keogh Plan deposits Change (b.p.) Jan. 29 -6.20 -4.74 -6.31 1.44 3 Average Rate Paid (%) Jan. 29 4.60 4.-1 Feb. 26 4.25 4.38 -9 5.60 4.63 5.54 N.A. N.A. N.A. -6 N.A. - data are not available NOTE: Data for earlier month may show revisions. 1. Estimates are based on data collected by the Federal Reserve System from a stratified random sample of about 460 commercial banks and 80 savings banks. All rates are expressed as annual effective yields. 2. Includes personal and nonpersonal money market deposit accounts. 3. Total IRA and Keogh Plan deposits regardless of size, type of instrument in which held, or interest rate paid. 4. BIF insured Savings banks include both mutual and federal savings banks.