Full text of H.6 Money Stock Measures : March 21, 1996

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

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES6

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

Billions of dollars

Date

MARCH 21,1996

M1 1

M22

DEBT5

M33
Seasonally adjusted

1994-MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1141.2
1143.2
1144.4
1146.1
1151.4
1150.0
1150.4
1148.9
1148.7
1148.7

3506.5
3513.5
3511.6
3500.6
3508.0
3504.1
3503.8
3503.9
3506.8
3509.4

4251.0
4261.4
4260.6
4258.8
4277.8
4276.5
4285.0
4293.8
4304.7
4319.7

5186.8
5201.0
5212.0
5205.9
5230.4
5240.3
5243.0
5261.9
5281.4
5303.7

12674.7
12737.0
12801.4
12843.7
12864.3
12926.4
12986.6
13036.8
13111.2
13153.2

1995-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1149.2
1147.8
1148.7
1151.2
1146.2
1144.5
1145.4
1143.8
1140.2
1131.8
1129.0
1124.8

3514.2
3514.1
3519.1
3529.2
3543.5
3574.0
3592.8
3612.7
3625.8
3632.8
3643.6
3660.2

4342.4
4352.5
4369.8
4391.8
4420.0
4458.4
4486.3
4513.9
4534.2
4548.4
4557.5
4570.2

5330.0
5361.4
5396.2
5429.0
5456.2
5495.4
5544.7
5580.6
5626.8
5652.4
5656.7
5680.7

13202.3
13280.9
13344.1
13421.6
13522.1
13580.9
13616.3
13669.2
13709.4
13758.7
13829.6
13871.3

1996-JAN.
FEB. p

1119.0
1117.0

3674.5
3690.8

4597.6
4636.1

5702.2 p

13897.1

Not seasonally adjusted
1994-MAR.
APR.
MAY
JUNE
JULY
hl'JG.

SRI-.
OCT.
NOV.
DEC.
1995-JAK.
FEB.

KM-..
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
1996-JAN.
FEB. p

1131.4
1152.5
1132.3
1141.9
1150.6
1143.9
1146.5
1147.8
1155.9
1174.2

3501.2
3528.9
3498.4
3498.6
3511.6
3502.9
3498.8
3500.5
3513.5
3529.8

4245.1
4271.2
4247.2
4256.5
4276.6
4277.2
4278.4
4292.9
4317.6
4341.5

5189.1
5209.9
5193.3
5198.4
5225.1
5237.5
5229.1
5253.5
5296.0
5333.2

12643.4
12686.3
12732.4
12788.3
12814.8
12874.8
12945.3
13000.7
13085.0
13145.8

1159.0
1134.7
1138.8
1159.8
1133.5
1140.6
1145.2
1138.5
1137.3
1131.0
1136.5
1150.7

3517.2
3495.9
3512.7
3543.6
3530.0
3572.4
3598.3
3613.9
3622.2
3628.8
3649.2
3679.9

4346.9
4334.5
4361.6
4399.2
4406.0
4456.4
4487.0
4517.2
4528.9
4548.3
4570.4
4591.3

5342.7
5350.6
5397.7
5436.6
5437.8
5487.7
5540.9
5581.0
5611.8
5642.0
5670.0
5710.3

13178.6
13232.6
13303.7
13360.2
13432.5
13513.8
13558.8
13605-.5
13662.3
13717.5
13793.1
13858.0

1127.9
1103.3

3676.2
3671.3

4602.2
4617.3

5715.6 p

13891.5

Footnotes appear on the following page
p

preliminary




Page 2

H.6(508)
Table 2

MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates
M1

M2

M3

DEBT1

3 Months from NOV. 1995 TO FEB. 1996

-4.3

5.2

6.9

4.0

6 Months from AUG. 1995 TO FEB. 19 96

-4.7

4.3

5.4

4.1

-2.7

5.0

6.5

5.3

-3.9

5.0

5.5

SEP. 11 # 1995 (26 weeks previous)

-4.2

4.6

5.2

MAR, 13. 1995 (52 weeks previous)

-2.4

4.8

6.2

12 Months from FEB. 1995 TO FEP

1996

Thirteen weeks ending MARCH 11, 1996
from thirteen weeks ending:
DEC. 11, 1995 (13 weeks previous)

1.

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, October 1995 to January 1996, July 1995 to January 1996,
and January 1995 to January 1996, 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; (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 M1 is calculated by
summing currency, travelers checks, demand deposits, and OCDs, each seasonally adjusted separately.
Consists of 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 (money funds with minimum initial investments of less than $50,000). Excludes individual retire
ment account (IRA) and Keogh balances at depository institutions and money market funds. Seasonally adjusted M2 is computed by summing savings deposits, smalldenomination time deposits, and retail money fund balances, each seasonally adjusted separately, and adding this result to seasonally adjusted M1.
Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more), balances in institutional money funds (money funds with minimum initial inves?
ments of $50,000 or more), 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 Canada. Excludes amounts held by depository institutions, the U.S. government,
money funds, and foreign banks and official institutions. Seasonally adjusted M3 is calculated by summing large time deposits, institutional money fund balances, RP
liabilities, and Eurodollars, each seasonally adjusted separately, and 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: The debt aggregate is the outstanding credit market debt of the domestic nonfinancial sectors — the federal sector (U.S. government, not including governmentsponsored 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-exempt and corporate bonds, consumer credit, bank loans,
commercial paper, and other loans. The 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 smoothed into the series) and month-averaged (that is, the data have been derived by averaging adjacent month-end levels). The 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 measured on a quarter-end basis and contain discontinuities.




Page 3
H.6(508)
Table 3

MONEY STOCK MEASURES
Billions of dollars

Seasonally adjusted
M1
Period en<ding

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

1995-DEC.

18
25

1130.0
1128.9

1126.0
1124.4

1122.0
1123.8

3640.1
3642.9

3653.3
3656.6

3657.6
3661.5

4553.3
4556.4

4565.3
4567.9

4565.1
4571.5

1996-JAN.

l
8
15
22
29

1128.1
1127.4
1126.6
1125.5
1124.3

1123.5
1123.2
1123.2
1121.5
1119.1

1124.6
1122.3
1121.9
1117.3
1114.7

3645.6
3648.8
3653.1
3656.5
3659.3

3660.0
3664.7
3672.6
3676.0
3677.2

3665.5
3674.2
3689.0
3675.4
3670.0

4558.8
4562.7
4567.9
4571.7
4574.9

4568.7
4576.8
4589.9
4597.1
4601.0

4573.1
4597.5
4617.5
4600.4
4588.4

FEB.

5
12
19
26

1123.3
1122.4
1121.2
1120.3

1118.3
1116.4
1115.6
1116.3

1119.2
1114.3
1114.2
1117.4

3662.3
3665.5
3669.1
3673.0

3678.0
3676.3
3680.1
3687.3

3677.4
3682.3
3690.6
3698.7

4579.0
4584.7
4590.8
4597.7

4602.8
4605.7
4614.7
4630.4

4604.7
4629.3
4636.5
4651.1

MAR.

4p
Up

1120.4
1120.3

1118.9
1121.1

1129.8
1123.0

3678.2
3683.2

3697.8
3707.2

3719.5
3720.1

4605.5
4613.8

4647.0
4657.9

4671.0
4673.0

Not seasonally adjusted
1995-DEC.

18
25

1134.0
1136.7

1140.8
1146.0

1143.5
1150.0

3641.6
3647.6

3666.8
3674.6

3676.5
3675.4

4558.6
4565.1

4583.5
4587.8

4586.6
4584.3

1996-JAN.

1
8
15
22
29

1139.8
1141.5
1141.5
1140.9
1139.0

1151.3
1155.3
1155.1
1146.3
1127.8

1164.2
1163.5
1142.6
1114.9
1090.3

3653.8
3658.6
3663.4
3667.1
3668.9

3680.6
3687.2
3694.6
3692.2
3678.0

3688.7
3708.1
3706.0
3665.8
3632.0

4571.2
4576.3
4582.2
4586.2
4588.2

4590.1
4598.0
4611.0
4613.7
4604.7

4595.9
4625.0
4638.9
4595.0
4560.0

FEB.

5
12
19
26

1136.6
1134.1
1131.3
1128.5

1115.4
1105.9
1102.2
1102.8

1113.7
1104.5
1100.3
1092.8

3669.9
3671.4
3672.9
3674.6

3666.9
3657.9
3659.1
3667.6

3663.8
3669.9
3670.5
3666.2

4590.0
4593.5
4597.0
4601.1

4596.4
4591.6
4596.9
4612.0

4591.5
4619.7
4616.3
4620.4

MAR.

4p
HP

1126.8
1124.5

1104.6
1107.7

1120.9
1116.7

3677.8
3680.6

3678.5
3690.3

3707.5
3717.1

4606.4
4612.1

4628.0
4640.0

4655.6
4667.6

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

preliminary data.




Page 4
H.6 (508)
Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Other checkable deposits
Currency1

Date

4.
5.
6.
7.

Nontransactions components

At commercial
banks4

At thrift
institutions'

Total

lnM2 6

In M3 only7

1994-OCT.
NOV.
DEC.

350.1
353.3
354.9

8.4
8.4
8.5

384.7
382.9
382.4

297.0
296.3
295.9

108.7
107.8
107.0

405.7
404.1
402.9

2355.0
2358.1
2360.7

789.9
797.8
810.3

1995-JAN.
FEB.
MAR.

357,
359,
362,

8.5
8.5
8.7

383.3
383.5
382.9

294.2
292.0
290.4

105.6
104.8
104.3

399.8
396.8
394.8

2365.0
2366.3
2370.4

828.2
838.4
850.8

APR.
MAY
JUNE

365,
367,
367,

382.1
382.1
386.5

290.9
283.5
277.0

104.2
103.9
105.0

395.1
387.4
382.0

2378.0
2397.3
2429.5

862.6
876.6
884.4

JULY
AUG.
SEP.

367.3
368.5
369.5

8.8

388,
389,
389,

276.2
272.0
266.4

104.6
105.1
106.0

380.8
377.2
372.4

2447,
2468,
2485.

893.6
901.2
908.4

OCT.
NOV.
DEC.

370.8
371.6
373.2

8.8
8.9
8.9

388,
388,

389.8

258.1
254.1
245.6

105.9
106.3
107.4

364.1
360.3
353.0

2501,
2514,
2535,

915.6
913.9
910.0

373.6
373.3

8.9
8.9

393.5
397.4

236.5
230.4

106.5
107.1

343.0
337.5

2555.5
2573.8

923.1
945.3

Week e n d i n a
1 9 9 6 - J A N . 15
22
29

374.3
373.3
373.7

8.9
8.9
8.9

395.8
392.6
392.7

234.9
236.1
235.3

107.9
106.5
104.2

342.8
342.6
339.4

2567.1
2558.1
2555.3

928.5
925.0
918.4

FEB.

5
12
19
26

372.9
372.7
373.0
374.1

8.9
8.9
8.9
8.9

397.1
395.4
398.2
396.4

232.4
230.3
227.4
231.3

107.9
107.0
106.7
106.6

340.3
337.3
334.1
338.0

2558.3
2568.0
2576.4
2581.3

927.3
947.0
945.9
952.4

MAR.

4p
Up

374.4
374.2

8.9
8.9

409.7
404.3

228.1
226.3

108.7
109.3

336.8
335.6

2589.6
2597.1

951.5
952.9

1996-JAN.
FEB.

1.
2.
3.

Travelers checks2 Demand deposits3

P

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 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 NOW 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 savings deposits (including money market deposit accounts), small time deposits, and retail money fund balances, each seasonally adjusted separately.
Sum of large time deposits, institutional money fund balances, RP liabilities (overnight and term) issued by depository institutions, and Eurodollars (overnight and term) of
U.S. addressees, each seasonally adjusted separately.

e
estimated



p

preliminary

Page 5
H.6(508)
Table 4 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Small-denomination time deposits 2

Savings deposits 1
Date

3.
4.
5.
6.

p

Institutional
money
funds4

At
commercial
banks

At
thrift
institutions

Total

At
commercial
banks

At
thrift
institutions

1994-0CT.
NOV.
DEC.

764.9
759.1
751.9

411.2
404.0
397.0

1176.1
1163.1
1148.9

488.9
496.0
505.4

311.5
316.5
318.2

800.4
812.5
823.7

378.6
382.5
388.1

1995-JAN.
FEB.
MAR.

743.8
734.8
725.2

390.9
383.2
377.3

1134.7
1118.0
1102.5

516.0
526.9
538.7

323.1
330.6
339.0

839.1
857.5
877.7

APR.
MAY
JUNE

718.8
719.8
729.3

372.4
369.7
367.7

1091.2
1089.5
1097.0

546.9
554.3
561.1

346.5
351.8
352.6

JULY
AUG.
SEP.

731.3
739.1
746.3

365.0
362.4
362.1

1096.2
1101.6
1108.4

566.5
569.8
571.7

OCT.
NOV.
DEC.

753.9
760.3
775.0

362.2
360.3
359.5

1116.1
1120.6
1134.5

P

793.2
805.1

358.6
360.4

1996-JAN.

15
22
29

799.7
795.3
793.1

FEB.

5
12
19
26

MAR.

4p
Up

1996-JAN.
FEB.

1.
2.

Retail
money
funds3

Large-denomination time deposits 5
At
commercial
banks6

At
thrift
institutions

182.0
182.9
183.7

290.5
294.5
298.7

63.9
64.3
64.8

354.5
358.8
363.5

391.2
390.8
390.2

189.3
188.4
195.0

297.4
303.9
308.4

66.8
67.9
69.2

364.2
371.8
377.6

893.4
906.1
913.7

393.3
401.6
418.8

199.4
203.7
213.2

309.9
314.1
316.7

71.1
70.4
70.9

381.0
384.5
387.7

352.9
353.9
355.3

919.4
923.7
927.0

431.7
443.6
450.3

218.6
218.5
221.7

321.3
323.4
326.8

72.7
73.3
73.7

394.0
396.7
400.5

573.2
575.4
576.2

356.6
358.4
359.5

929.8
933.8
935.7

455.0
460.1
465.1

223.6
224.0
226.4

335.4
340.7
342.4

74.4
74.7
75.0

409.8
415.5
417.4

1151.8
1165.5

578.4
577.3

356.6
356.3

935.0
933.6

468.6
474.7

229.7
243.1

340.5
345.7

76.0
76.1

416.5
421.8

358.7
359.4
359.6

1158.4
1154.7
1152.8

578.7
579.0
579.1

356.5
355.7
355.5

935.2
934.7
934.6

473.4
468.7
468.0

231.8
229.9
227.4

342.9
339.7
338.5

75.9
75.9
76.1

418.9
415.6
414.7

798.8
803.6
808.4
804.2

359.8
359.8
360.5
361.2

1158.6
1163.4
1168.9
1165.3

578.6
578.0
577.2
576.2

356.2
356.4
356.5
356.6

934.9
934.3
933.6
932.8

464.8
470.3
473.9
483.2

227.2
242.8
244.2
251.3

342.3
344.9
344.8
347.1

76.5
76.2
76.0
76.0

418.8
421.2
420.8
423.1

813.5
821.0

361.0
361.3

1174.5
1182.3

575.8
574.9

355.5
354.4

931.3
929.3

483.9
485.5

246.9
251.0

351.5
349.1

75.9
75.7

427.4
424.8

Total

Total

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.
Balances in money funds with minimum initial investments of less than $50,000.
Balances in money funds with minimum initial investments of $50,000 or more.
Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. government, and foreign banks and
official institutions.
preliminary




Page 6
H.6(508)
Table 4 - continued

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

RPs 1

Date

Savings bonds
1994-OCT.
NOV.
DEC.

172.4

Debtcomponents6

Non-M3Cos rponentsof L

Eurodollars2

£hort-term
Treasury
securities3

Bankers
acceptances
13. U
13.7
14.2

399.6
402.4
402.4

3470.6
3494.7
3497.6

9616.5
9655.6

Commercial paper5

Non-Federal debt

Federal debt

5555.2

174.4
180.8

81.0
81.7
82.3

179.8
180.3

375.6
380.8
387.3

1995-JAN.
FEB.
MAR.

187.4
191.9
191.1

87.3
86.4
87.2

180.5
180.5
180.7

387.3
400.2
411.1

13.6
13.5
13.7

406.3
414.9
420.9

3504.5
3535.2
3556.4

9697.8
9745.7
9787.7

APR.
MAY
JUNE

192.1
197.2
191.7

90.1
91.1
91.8

181.2
181.7
182.4

412.0
405.5
414.7

13.4
12.0
11.0

430.6
437.0
428.9

3558.6
3576.9
3602.6

9863.0
9945.2
9978.2

JULY
AUG.
SEP.

188.4
192.9192.5

92.6
93.1
93.7

183.0
183.5
183.9

434.2
437.5
457.2

12.1
12.4
12.8

429.0
433.3
438.6

3615.5
3621.4
3623.8

10000.8
10047.8
10085.6

OCT.
NOV.
DEC.

189.9
185.2
177.3

92.2
89.3
88.9

184.2
184.5
184.8

465.7
464.8
476.7

13.4
12.6
11.9

440.7
437.3
437.1

3632.6
3645.8
3644.6

10126.1
10183.9
10226.7

1996-JAN.
FEBc P

184.6
187.4

92.3
93.0

185.0

Week e n d i n a
1 9 9 6 - J A N . 15
22
29

185.8
185.6
183.1

92.0
93.8
93.2

FEB.

5
12
19
26

188.6
190.0
187.4
184.7

92.7
93.1
93.6
93.3

MAR.

4p
HP

186.3
186.6

91.0
90.4

179.4

p

470.6

p

11.7

p

437.2

p

3634.7

p

10262.4

4.
5.
6.

Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money 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.
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.

p

preliminary




p

Page/
H.6(508)
Table 5

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

cy1

Date

e

Nontransactions components

Other checkable deposits
At commercial
banks4

At thrift
institutions5

Total

lnM2 6

In M3 only7

349.5
353.2
357.5

8.5
8.2
8.1

387.6
390.5
400.1

294.0
296.0
300.6

108.3
108.0
107.9

402.2
404.0
408.4

2352.7
2357.5
2355.6

792.5
804.2
811.7

1995-JAN.
FEB.
MAR.

355.8
357.0
361.3

8.1
8.1
8.4

388.7
374.7
374.0

301.3
292.3
291.1

105.
102,
103,

406.4
394.9
395.1

2358.2
2361.2
2374.0

829.7
838.6
848.8

APR.
MAY
JUNE

365.5
367.9
368.2

8.8
8.9
9.2

382.1
373.1
382.8

296.6
279.8
274.8

106.8
103.8
105.5

403.4
383.6
380.3

2383.8
2396.5
2431.9

855.6
876.1
884.0

JULY
AUG.
SEP.

369.1
369.1
369.3

9.5
9.5
9.3

388.8
386.8
388.5

272
268
264

105,
104,
105,

377.8
373,
370,

2453,
2475,
2484,

888,
903,
906,

OCT.
NOV.
DEC.

370.0
371.7
376.1

8.9
8.7
8.5

391.1
395.8
408.0

255
253
249

105,
106,
108,

361,
360,
358,

2497,
2512,
2529,

919,
921,
911,

371.7
370.8

8.5
8.5

399.0
388.3

242.3
230.5

106.4
105.2

348.7
335.7

2548.3
2568.0

926.0
945.9

373.2
370.7
368.7

8.5
8.5
8.5

408.1
390.4
379.6

244.0
240.5
232.6

108.9
104.8
100.9

352.8
345.3
333.6

2563.4
2551.0
2541.8

932.9
929.1
928.0

392.3
387.0
390.0
382.6

235.4
231.7
226.4
228.6

107.3
106.0
104.2
103.0

342.7
337.7
330.6
331.6

2550.0
2565.4
2570.2
2573.3

927.7
949.8
945.8
954.2

400.3
395.6

230.7
228.7

109.0
109.7

339.7
338.3

2586.6
2600.4

948.1
950.4

p

Week e n d i n g
1 9 9 6 - J A N . 15
22
29

4.
5.
6.
7.

Demand
deposits3

1994-OCT.
NOV.
DEC

1996-JAN.
FEB.

1.
2.
3.

Travelers
checks2

FEB.

5
12
19
26

370.2
371.4
371.3
370.1

8.5
8.5
8.5
8.5

MAR.

4p
HP

372.4
374.2

8.5
8.5

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.
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.
Consists of NOW 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 savings deposits (including money market deposit accounts), small time deposits, and retail money fund balances.
Sum of large time deposits, institutional money fund balances, RP liabilities (overnight and term) issued by depository institutions, and Eurodollars (overnight and term) of
U.S. addressees.
estimated




p

preliminary

Page 8

H.6(508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Small-denomination time deposits2

Savings deposits1

At
commercial
banks

At
thrift
institutions

Total

Retail
money3
fund,

1177.7
1167.4
1148.5

488.6
493.9
502.5

311.3
315.2
316.4

800.0
809.2
818.9

375.0
381.0
388.2

389.0
380.9
376.6

1129.2
1111.2
1100.4

514.3
526.1
539.5

322.0
330.0
339.5

836.3
856.1
879.0

718.4
718.4
730.9

372.1
369.0
368.5

1090.5
1087.4
1099.4

548.4
555.9
562.9

347.4
352.8
353.7

JULY
AUG.
SEP.

733.3
741.5
748.0

365.9
363.6
363.0

1099.2
1105.1
1111.0

568.7
571.2
571.9

OCT.
NOV.
DEC.

755.4
763.4
775.0

362.9
361.7
359.5

1118.3
1125.1
1134.5

1996-JAN.
FEB. p

789.5
799.9

356.9
358.1

Week e n d i n g
1996-JAN. 15
22
29

798.1
789.0
783.0

At
commercial
banks

At
thrift
institutions

1994-0CT.
NOV.
DEC.

766.0
761.9
751.6

411.8
405.5
396.9

1995-JAN.
FEB.
MAR.

740.2
730.3
723.9

APR.
MAY
JUNE

Date

1.
2.
3.
4.
5.
6.
p

Institutional
money4
funds

Large-denomination time deposits5
At
commercial
banks6

At
thrift
institutions

Total

180.0
184.7
185.5

292.2
296.7
298.5

64.3
64,7
64,8

356.5
361.4
363.2

392.7
393.9
394.6

195.3
193.4
195.6

295.1
302.4
306.9

66.3
67.6
68.9

361.4
370.0
375.8

895.9
908.8
916.5

397.5
400.3
416.0

197.1
202.0
208.8

307.7
316.2
317.5

70.6
70.9
71.1

378.3
387.1
388.7

354.3
354.7
355.4

923.0
925.9
927.3

430.9
444.4
446.6

215.9
218.4
218.1

319.9
324.3
327.5

72.4
73.5
73.9

392.3
397.8
401.4

572.6
572.6
572.3

356.2
356.7
357.0

928.8
929.3
929.3

450.6
458.3
465.4

221.8
226.3
228.6

337.7
343.6
342.3

74.9
75.4
75.0

412.7
419.0
417.3

1146.4
1158.0

576.1
576.3

355.2
355.7

931.3
932.0

470.6
478.0

237.3
248.7

337.8
344.1

75.4
75.8

413.2
419.9

358.0
356.5
355.1

1156.1
1145.6
1138.0

576.3
576.8
577.1

355.0
354.3
354.3

931.3
931.1
931.4

476.0
474.3
472.3

240.4
239.6
240.5

340.5
337.2
335.6

75.4
75.3
75.5

415.9
412.5
411.1

Total

FEB.

5
12
19
26

792.6
800.3
803.5
797.2

357.0
358.3
358.3
358.0

1149.5
1158.6
1161.8
1155.2

577.2
576.8
576.2
575.4

355.4
355.6
355.8
356.0

932.6
932.5
932.0
931.4

467.9
474.3
476.4
486.7

235.6
250.5
248.6
256.5

339.4
343.8
343.6
345.8

75.8
76.0
75.8
75.7

415.2
419.8
419.4
421.5

MAR.

4p
HP

809.2
819.4

359.1
360.6

1168.3
1180.0

575.7
575.6

355.5
354.9

931.2
930.5

487.1
490.0

248.5
252.2

349.9
348.6

75.6
75.5

425.5
424.1

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.
Balances in money funds with minimum initial investments of less than $50,000.
Balances in money funds with minimum initial investments of $50,000 or more.
Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. government, and foreign
banks and official institutions.
preliminary




Page 9
H.6(508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
RPs1
Date

1.
2.

At commercial
banks

At thrift
institutions

Debt components 6

Non-M3 Components of L
Eurodollars2
Savings bonds

Total

Short-term
Treasury
securities3

Bankers
acceptances 4

Commercial
paper5

Federal debt

Non-Federal
debt

1994-OCT.
NOV.
DEC.

137.9
137.3
139.8

36.5
37.5
39.8

174.5
174.8
179.6

81.6
83.3
83.4

179.0
179.7
180.2

364.1
379.7
393.6

13.3
13.6
14.4

404.2
405.3
403.6

3448.5
3485.2
3499.0

9552.2
9599.8
9646.8

1995-JAN.
FEB.
MAR.

144.4
146.3
146.0

41.4
42.6
43.4

185.8
188.9
189.4

87.2
86.4
88.0

180.6
180.8
181.2

390.6
406.0
420.7

14.2
13.9
13.9

410.5
415.3
420.4

3499.0
3525.0
3551.1

9679.6
9707.6
9752.6

APR.
MAY
JUNE

146.8
151.4
150.2

44.4
45.8
45.3

191.2
197.1
195.5

88.9
89.9
91.0

181.7
182.1
182.4

411.3
402.9
412.3

13.7
12.1
11.0

430.8
434.7
425.5

3544.1
3552.6
3579.3

9816.1
9879.9
9934.6

JULY
AUG.
SEP.

143.4
146.9
145.7

45.5
47.0
47.7

188.9
193.9
193.4

91.7
93.2
93.9

182.8
183.0
183.3

435.1
440.2
447.5

11.6
11.9
12.6

424.4
428.7
439.4

3588.8
3602.2
3606.8

9970.0
10003.4
10055.5

OCT.
NOV.
DEC.

145.2
139.1
130.8

46.7
46.0
45.0

191.9
185.1
175.8

93.2
90.9
89.7

183.8
184.3
184.8

450.3
462.4
484.0

13.2
12.5
12.1

446.4
440.3
438.1

3610.1
3635.9
3645.9

10107.4
10157.2
10212.1

1996-JAN.
FEB. P

138.6
139.5

44.7
45.1

183.3
184.6

92.2
92.6

185.1

1996-JAN.

15
22
29

139.9
139.2
137.8

44.8
44.9
45.1

184.7
184.1
182.9

91.8
93.0
93.5

FEB.

5
12
19
26

140.5
142.7
139.2
136.7

44.9
44.9
45.3
45.4

185.5
187.6
184.5
182.0

91.4
92.0
93.3
94.1

MAR.

4p
HP

137.8
138.6

45.1
45.5

182.9
184.0

91.2
90.1

p

474.7

p

12.2

p

441.3

p

3634.4

p

10257.1

4.
5.
6.

Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money 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.
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.

p

preliminary

3.




p

Page 10

H.6(508)
Table 6

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

U.S. government deposits
At
commercial
banks

22.0
18.9
25.3

2.2
1.9
1.3

142.7
142.9
143.3

108.1
107.9
107.5

58.3
59.4
59.7

309.1
310.2
310.5

20.0
21.1
10.1

31.8
30.3
18.8

1.2
2.3
2.4

143.7
144.6
145.6

107.6
107.8
107.9

60.9
63.3
66.2

312.1
315.8
319.6

6.2
5.7
7.9

12.4
18.7
19.6

24.1
27.5
32.0

2.6
2.5
2.5

146.4
146.8
147.8

107.9
107.8
107.7

68.5
69.0
69.2

e
e

322.7
323.5
324.7

e
e

3.3
2.8
5.9

6.6
5.3
6.8

27.7
13.6
17.8

37.6
21.7
30.6

2.8
2.9
2.8

148.9
149.1
149.4

107.7 e
107.5 e
108.0 e

69.4
69.6
69.8

e
e
e

326.0
326.2
327.2

e
e
e

12.0
12.2
12.3

3.1
2.9
6.0

5.3
5.4
6.5

11.4
8.2
14.6

19.8
16.5
27.1

2.8
1.6
1.1

150.0
151.2
152.1

108.5
108.3
108.2

e
e
e

70.0
70.3
70.8

e
e
e

328.5
329.8
331.1

e
e
e

1.5
1.5

12.5
12.4

4.3
3.1

6.2
5.0

15.9
13.2

26.5
21.3

1.2
1.3

152.7
153.4

108.1 e
108.1 e

71.3
71.8

e
e

332.1
333.3

e
e

8.6
8.1
8.2

1.7
1.4
1.4

12.5
12.5
12.5

3.9
6.3
3.0

5.4
7.2
6.6

8.6
16.7
29.2

17.9
30.1
38.8

1.1
1.2
1.3

5
12
19
26

8.6
7.9
8.3
8.4

1.5
1.4
1.5
1.5

12.4
12.4
12.4
12.4

3.2
2.7
3.5
2.9

6.2
5.3
5.0
4.0

18.8
8.1
6.6
20.0

28.2
16.1
15.1
26.9

1.3
1.4
1.4
1.2

4p
Up

8.8
8.0

1.4
1.5

12.4
12.4

3.6
2.8

4.4
5.4

15.3
2.8

23.3
11.0

1.2
1.3

Balance
at
Federal
Reserve

14.8
14.6
14.4

4.3
3.9
5.7

5.6
5.2
6.2

12.1
9.8
13.4

1.6
1.6
1.6

14.0
13.3
12.7

4.8
3.3
3.4

7.0
5.9
5.2

7.7
8.2
8.2

1.6
1.5
1.5

12.8
13.8
14.8

5.5
3.1
4.5

JULY
AUG.
SEP.

8.5
7.5
7.5

1.5
1.4
1.6

14.7
13.5
12.4

OCT.
NOVc
DEC.

8.3
8.1
8.2

1.5
1.6
1.5

8.3
8.3

We eft e f t c U a q
1 9 9 6 - J A N . 15
22
29
FEB.

MAR.

Foreign
commercial
banks

Foreign
official
institutions

1994-OCT.
NOV.
DEC.

8.0
8.4
8.7

1.6
1.8
1.6

1995-JAN.
FEB.
MAR.

8.4
8.0
8.1

APR.
MAY
JUNE

1996-JAN.
FEB.

estimated
preliminary




IRA and Keogh Accounts
Time and
savings
deposits at
commercial
banks

Demand
deposits at
commercial
banks

Date

e
p

Time and
savings
deposits
due to
foreign
banks and
official
institutions

P

Note
balances at
depository
institutions

Total
cash
balance

At
thrift
institutions

At
money
market
funds

Total




Board of Governors of the
Federal Reserve System
Washington, DC 20551-0001
oniCIA! BUSINESS




First Class