Full text of H.6 Money Stock Measures : March 28, 1985

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jofcow.;-

FEDERAL RESERVE statistical release

EI
•

H.6 (508)

.*AL

For Release at 4 : 3 0 Eastern Time

Table 1
MARCH 28,

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

1985

Billions of dollars
M1
Sum of currency,
travelers checks,
demand deposits and
other checkable deposits 1

Date

M2
M1 plus overnight RPs
and Eurodollars,
MMMF balances (gen. pur.
and broker/dealer), MMDAs,
and savings and small
time deposits 2

M3
M2 plus
large time deposits,
term RPs, term Eurodollars
and institution-only
MMMF balances 3

L

Debt

M3 plus other
liquid assets 4

Debt of domestic
nonfinancial sectors 6

Seasonally adjusted
1984—FEE.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.

531.2
537.3
539.2
542.5
547.3
546.9
548.9
551.5
548.3
553.8
558.5

2216.9
2229.1
2241.1
2255.2
2269.3
2280.2
2292.8
2308.2
2318.7
2345.7
2371.4

2741.7
2765.4
2788.0
2815.2
2839.0
2862.1
2879.0
2901.3
2925.4
2959.8
2995.2

1985—JAN.
FEB.

562.7
569.3

2398.6
2419.8

3020.8
3040.7

3227.7
3267.8
3293.3
3328.0
3366.7
3402.7
3429.9
3459.4
3480.5
3508.8
3544.0

5343.7
5398.4
5458.0
5519.6
5575.6
5635.1
5692.4
5740.8
5797.4
5868.3
5937.6
6000.8

Not seasonally adjusted

1984—FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.

523.9
530.4
545.6
537.3
547.9
549.9
545.0
548.5
548.2
555.9
570.4

2208.9
2228.5
2252.2
2251.3
2272.3
2285.7
2287.6
2298.7
2316.0
2343.8
2376.3

2734.6
2766.4
2798.9
2812.8
2840.5
2863.7
2875.0
2891.3
2920.9
2960.3
3002.3

1985—JAN.
FEB.

568.2
558.5

2403.9
2413.3

3024.5
3034.0

3225.1
3273.9
3305.1
3321.8
3368.0
3403.4
3423.6
3447.9
3476.2
3509.3
3545.3

5324.4
5374.3
5431.7
5493.4
5552.3
5613.6
5674.0
5728.3
5786.9
5855.9
5931.0
5992.3

M1
For period ended
198 5 - F E B .

t
MAR.
4

•

NOTE:

Not seasonally adjusted
4-week average

13-week average

Seasonally adjusted
4-week average

4
11
18
25

558.9
560. 1
561.2
562.5

563.0
564.8
566.2
568.5

564.9
567.3
569.0
572.8

565.3
565.6
565.5
565.6

562.6
558.9
557.2
558. 1

560. 1
561.0
558. 5
552.8

4
11 P
18 P

564.0
565.2
566.2

570.4
571.3
571.5

572.6
570.6
570.1

566.2
566.3
566. 1

559.0
560.8
562.3

563.8
568.0
564.4

week average

S P E C I A L CAUTION SHOULD BE TAKEN I N I N T E R P R E T I N G
HIGHLY V O L A T I L E AND S U B J E C T TO R E V I S I O N .
P — I N D I C A T E S P R E L I B I N A R Y DATA.
FOOTNOTES APPEAR ON THE FOLLOWING PAGE




13-week average

WEEK-TO-WEBK CHANGES I N

week average

HONEY S U P P L Y D A T A ,

WHICH

ARE




H 6 (508)
Table 2

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

Debt 1

M3

3

MONTHS FROM NOV.

1984

TO F E B .

1985

11. 2

12. 6

10.9

6

MONTHS FROM AUG.

1984

TO F E B .

1985

7. 4

11. 1

1 1.2

w

M2

12

MONTHS FROM F E B .

1984

TO F E B .

1985

6.6

9.2

10.9

13.6

©

14.0

T H I R T E E N WEEKS ENDING MAR. 1 8 , 1 9 8 5
FROM T H I R T E E N WEEKS E N D I N G :

1/

V

2/

3/

4/
5/

DEC.

17,

1984

(13

WEEKS P R E V I O U S )

SEPT.

18,

1984

(26

WEEKS P R E V I O U S )

6.4

MAR.

19,

1984

(52

WEEKS P R E V I O U S )

6.2

10.5

GROWTH RATES FOR DEBT ARE BASED ON PERIODS BEGINNING AND ENDING ONE MONTH EARLIER THAN FOR THE MONETARY AGGREGATES
NAMELY, OCTOBER 1984 TO JANUARY 1985, JULY 1984 TO JANUARY 1985, AND JANUARY 1984 TO JANUARY 1985, RESPECTIVELY. '
FOOTNOTES TO TABLE 1
C O N S I S T S OF (1) CURRENCY O U T S I D E THE T R E A S U R Y , FEDERAL RESERVE BANKS, AND THE VAULTS OF COMMERCIAL BANKS:
( 2 ) TRAVELERS CHECKS OF NONBANK I S S U E R S ; ( 3 ) DEMAND D E P O S I T S AT ALL COMMERCIAL BANKS OTHER THAN THOSE DDE TO
DOMESTIC BANKS, THE U . S . GOVERNMENT, AND FOREIGN BANKS AND O F F I C I A L I N S T I T U T I O N S L E S S CASH I T E M S I N THE P R O C E S S
OF COLLECTION AND FEDERAL RESERVE F L O A T ; AND ( 4 ) OTHER CHECKABLE D E P O S I T S (OCD) C O N S I S T I N G OF NEGOTIABLE ORDER
OF WITHDRAWAL (NOW) AND AUTOMATIC TRANSFER S E R V I C E (ATS) ACCOUNTS AT DEPOSITORY I N S T I T U T I O N S ,
C R E D I T UNION SHARE DRAFT ACCOUNTS AND DEMAND D E P O S I T S AT T H R I F T I N S T I T U T I O N S .
THE CURRENCY AND DEMAND
D E P O S I T COMPONENTS EXCLUDE THE E S T I M A T E D AMOUNT OF VAULT CASH AND DEMAND D E P O S I T S , R E S P E C T I V E L Y . HELD BY
T H R I F T I N S T I T U T I O N S TO S E R V I C E T H E I R OCD L I A B I L I T I E S .
r « n H T L ° ' V P L ° S OVERNIGHT (AND C O N T I N U I N G CONTRACT) B P S I S S U E D BY ALL COMMERCIAL BANKS AND OVERNIGHT EURODOLLARS
I S S U E D TO U . S . R E S I D E N T S BY F O R E I G N BRANCHES OF U . S . BANKS WORLDWIDE, MMDAS, S A V I N G S AND SHALL DENOMINATION
T I M E D E P O S I T S ( T I M E D E P O S I T S — I N C L U D I N G R E T A I L R P S - - I N AMOUNTS OF L E S S THAN $ 1 0 0 , 0 0 0 ) , AND BALANCES I N BOTH
TAXABLE AND TAX-EXEMPT GENERAL P U R P O S E AND BROKER/DEALER MONEY MARKET MUTUAL F U N D S . EXCLUDES I R A AND KEOGH
n ^ e C E L A I D E P O S I T O R Y I N S T I T U T I O N S AND MONEY MARKET FUNDS. ALSO EXCLUDES ALL BALANCES HELD BY U . S . COMMERCIAL
flARKET
F 0 W D S
Su2
S «
(GENERAL P U R P O S E AND B R O K E R / D E A L E R ) , FOREIGN GOVERNMENTS AND COMMERCIAL BANKS, AND
THE U . S . GOVERNMENT.
ALSO SUBTRACTED I S A C O N S O L I D A T I O N ADJUSTMENT THAT R E P R E S E N T S THE E S T I M A T E D AMOUNT
OF DEMAND D E P O S I T S AND VAULT CASH HELD BY T H R I F T I N S T I T U T I O N S TO S E R V I C E T H E I R T I M E AND S A V I N G S D E P O S I T S .

D ? £ ^ S ! i L 0 F " L P L U S T t i E "ONBANK P U B L I C HOLDINGS OF U . S . SAVINGS BONDS, SHORT-TERM TREASURY S E C U R I T I E S , COMMERCIAL
PAPER AND BANKERS ACCEPTANCES, NET OF MONEY MARKET MUTUAL FUND HOLDINGS CF THESE A S S E T S .
c m ? I = , ° F DOMESTIC NONFINANCIAL SECTORS C O N S I S T S OF OUTSTANDING CREDIT MARKET DEBT OF THE UNITED STATES GOVERNMENT,
L 0 C A L
GOVERNMENTS AND PRIVATE NONFINANCIAL SECTORS.
PRIVATE DEBT C O N S I S T S OF CORPORATE BONDS, MORTGAGES,
CONSUMER CREDIT (INCLUDING BANK L O A N S ) , OTHER BANK LOANS, COMMERCIAL PAPER, BANKERS ACCEPTANCES AND OTHER DEBT
U
E N T S e
E
DATA
ARE
^ l T "
™
DERIVED FROM THE FEDERAL RESERVE BOARD'S FLOW CF FUNDS ACCOUNTS.
ALL DATA ON DEBT OF DOMESTIC
n ? ^ I J J * H C I A L SECTORS ARE PRESENTED I N MONTH-AVER KGE FORM, DERIVED BY AVERAGING MONTH-END LEVELS OF ADJACENT MONTHS.
THE
A L S
BEEN
* 5 1 \
°
ADJUSTED TO REMOVE S T A T I S T I C A L D I S C O N T I N U I T I E S THAT MAY ARISE I N THE UNDERLYING FLOW OF FUNDS S T A T I S T I C S .
E
F
DEBT
ATA
I N
T H I S
™
PRESENTATION °
°
RELEASE D I F F E R S , THEREFORE, FROM THE QUARTERLY FLOW OF FUNDS S T A T I S T I C S CONTAINED IN

those releases

-

publishfd levels or cbedit

mark

*t

debt ibe

"easobbd

1

COMPONENTS OF TNI MONEY STOCK
Unions of dollars, n n o n i W y a#ws##N
Nontransectfons
oompctnsnts
In MS
only*
In M2*

Selected nontranaactlons Item#
Small time deposits*
at
at
total
commercial
thrift
banks
Inetltutlone
796.2
354.2
442.0
445.7
802.3
356.5

Laraie time depot •Its
at
at
thrift
commercial
total
b a n k s " Inetltutlone
231. 1
111.9
343.0
233.9
349.7
115.8

1984-FEB.
MAR.

150.2
151.2

5.0
5.0

245.2
245.5

133.8
135.6

1682.7
1691.8

524.8
536.4

Savings depoelts 7
at
at
thrift
total
i commercial
Inetltutlone
banks
172.6
303.8
131.2
172.8
302.9
i 130.1

APR.
MAY
JUNE

152.1
152.8
154.3

5.1
5. 1
5.1

245.9
246.3
248.9

136. 1
138.3
139.0

1701.8
1712.8
1722.0

546.9
560.0
569.6

'
I
;

JULY
AUG.
SEPT.

155.0
155.9
156.8

5.2
5.2
5.1

247.3
246.8
247.5

139.4
141.0
142.2

1733.3
1743.9
1756.7

OCT.
NOV.
DEC.

157.1
157.9
158.7

5.0
5.1
5.2

244.5
246.8
248.6

141.8
143.9
145.9

1985-JAN.
FEB.

159.4
160.6

5.3
5.3

249.1
251.7

148.9
151.7

250.0
249.9
251.8
254.0

149.8
151.8
151.5
152.5

121.6
121.6
121.4
121.2

382.9
382.6
382. 1
381.1

260.6
263.6
264.4
266.2

252.7
251.5
250.7

153.2
152.8
153.0

121.0
120.5
120.3

381.6
381.7
382.0

266.4
267.5
269.3

Currency*

Dele

Traveler#
checks*

Demand
dsposlts 1

Other
checkable
depoelts 4

129.3
128.8
128.7

172.6
172.7
172.1

301.9
301.5
300.8

361.2
366.2
371.0

450.0
456.4
463.0

811.2
822.6
834.0

237.6
245.2
249.4

120. 1
124.6
130. 1

357.7
369.8
379.5

581.9
586.2
593. 1

128.1
127.0
126. 1

171.0
169.4
168.4

299. 1
296.4
294.5

374.7
378.8
381.7

468.9
476.2
482.6

843.7
855.0
864.4

254.6
255.0
258.0

134.6
137.6
138. 1

389.3
392.6
396. 1

1770.4
1791.9
1812.9

606.6
614.2
623.8

124.9
123.8
122.6

167.6
166.8
165.9

292.5
290.6
288.5

383.1
384.5
387.0

489.0
493.4
498. 1

872.1
877.9
885. 1

263.2
263.6
264.4

142.5
147.6
152.4

405.7
411.2
416.8

1836.0
1850.5

622.2
621.0

121.6
121.4

166.9
168.1

288.6
289.5

384.7
382.0

496.8
494.9

881.4
876.4

262.3
264.3

155.0
155.4

417.3
419.6

WEEK ENDING
1985
FEB.

MAR.

4

11
18

1/
2/
3/

4/

5/

6/

7/
8/

9/

159.8
160.3
160.4
161.0

4
11
18
25

P
P

161.4
161.1
161. 1

*

i

CURRENCY O U T S I D E T H E U . S . T R E A S U R Y , FEDERAL RESERVE BARKS AND VAULTS OF COMMERCIAL BANKS.
EXCLUDES THE E S T I M A T E D
AMOUNT OF VAULT CASH HELD BT T H R I F T I N S T I T U T I O N S TO S E R V I C E T H E I R OCD L I A B I L I T I E S .
OUTSTANDING AMOUNT O F U . S . DOLLAR-DENOMINATED TRAVELERS CHECKS OF NONBANK I S S U E R S . TRAVELERS CHECKS I S S U E D BT D E P O S I T O R Y
I N S T I T U T I O N S ARB INCLUDED I N DEMAND D E P O S I T S .
DEMAND D E P O S I T S AT COMMERCIAL BANKS AND FOREIGN RELATED I N S T I T U T I O N S OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U . S . GOVERNMENT AND FOREIGN BANKS AND O F F I C I A L I N S T I T U T I O N S L E S S CASH I T E M S I N THE P R O C E S S OF COLLECTION AND FEDERAL RESERVE F L O A T .
EXCLUDES THE E S T I M A T E D AMOUNT OF DEMAND D E P O S I T S HELD AT COMMERCIAL BANKS BY T H R I F T I N S T I T U T I O N S TO S E R V I C E T H E I R OCD
LIABILITIES.
C O N S I S T S OF NOW AND ATS BALANCES AT ALL DEPOSITORY I N S T I T U T I O N S , C R E D I T UNION SHARE DRAFT BALANCES AND
DEMAND D E P O S I T S AT T H R I F T I N S T I T U T I O N S .
OTHER CHECKABLE D E P O S I T S SEASONALLY ADJUSTED EQUALS THE D I F F E R E N C E BETWEEN THE
SEASONALLY ADJUSTED SUM OF DEMAND D E P O S I T S PLUS OCD AND SEASONALLY A D J U S T E D DEMAND D E P O S I T S . INCLUDED ARB ALL C E I L I N G
F R E E " S U P E R N O W S , " AUTHORISED BY THE D E P O S I T O R Y I N S T I T U T I O N S DEREGULATION COMMITTEE TO BE OFFERED B E G I N N I N G JANUARY 5 ,
1983.
SUM OF OVERNIGHT H P S AND OVERNIGHT EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL P U R P O S E AND B R O K E R / D E A L E R ) ;
MMDAS, AND S A V I N G S AND SHALL T I M E D E P O S I T S , L E S S THE C O N S O L I D A T I O N ADJUSTMENT THAT R E P R E S E N T S THE E S T I M A T E D AMOUNT OF
DEMAND D E P O S I T S AND VAULT CASH HELD BY T H R I F T I N S T I T U T I O N S TO S E R V I C E T H E I R T I M E AND S A V I N G S D E P O S I T S L I A B I L I T I E S .
SUM O F LARGE T I M E D E P O S I T S , TERM R P S AND TERM EURODOLLARS OF U . S . R E S I D E N T S , MONEY MARKET FUND BALANCES ( I N S T I T U T I O N ONLY) , L E S S A C O N S O L I D A T I O N ADJUSTMENT THAT R E P R E S E N T S THE ESTIMATED AMOUNT OF OVERNIGHT R P S AND EURODOLLARS HELD BY
I N S T I T U T I O N - O N L Y MONEY MARKET F U N D S .
S A V I N G S D E P O S I T S EXCLUDE MMDAS.
SHALL DENOMINATION T I M E D E P O S I T S — I N C L U D I N G R E T A I L R P S — ARE THOSE I S S U E D I N AMOUNTS OF L E S S THAN $ 1 0 0 , 0 0 0 . ALL
I N D I V I D U A L RETIREMENT ACCOUNTS ( I R A ) AND KEOGH ACCOUNTS AT COMMERCIAL BANKS AND T H R I F T S ARE SUBTRACTED FROM SHALL
TIME D E P O S I T S .
LARGE DENOMINATION T I M E D E P O S I T S ARE THOSE I S S U E D IN AMOUNTS OF $ 1 0 0 , 0 0 0 OR MORE, EXCLUDING THOSF BOOKED AT
I N T E R N A T I O N A L BANKING F A C I L I T I E S .
LARGE DENOMINATION T I M E D E P O S I T S AT COMMERCIAL BANKS L E S S THOSE HELD BY MONEY MARKET MUTUAL F U N D S ,
DEPOSITORY I N S T I T U T I O N S AND FOREIGN BANKS AND O F F I C I A L I N S T I T U T I O N S .

 1 0 /


H .6 (508)
Table 4

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

savings bonds

Non-M3 components of L
short-term treasury
bankers acceptances 2
securities 1

commercial paper3

Debt components 4
federal debt
non federal debt

1984-JAN.
FEB.
HAB.

71.4
71.8
72. 1

226.7
233.2
243.4

43.3
42.9
44.0

137.3
138. 1
142.9

1191. 7
1214.5
1224.6

4092.9
4129.2
4173.8

APR.
MAY
JUNE

72.5
72.7
73.0

242.0
241.5
251.6

44.7
46.5
47.7

146. 1
152.0
155.5

1236.8
1251.9
1261. 3

4221.2
4267.7
4314.2

JULY
AUG.
SEPT.

73.1
73.3
73.6

259.9
269.2
280.4

48.2
47.8
46.8

159.4
160.5
157.2

1277.9
1299,0
1311. 1

4357.2
4393.4
4429.8

OCT.
NOV.
DEC.

73.7
73.9
73.9

279.9
275.0
271.8

44.8
42.5
41.3

156.7
157.6

1325.2
1347.2
1367. 1

4472.2
4521.0
4570.5

1385.6

4615.2

JAN.

P

161.8

1/

2/
3/
4/

EeS-SES":":""-::




...............

H.6 (508)
Table 5

COMPONENTS O F THE MONEY STOCK, LIQUID ASSETS AND DEBT
Billions of dollars, not seasonally adjusted
Nontransactions components

Other checkable deposits
Travelers
checks 2

Currency1

Date

Demand
deposits 3

at commercial
banks 4

at thrift
institutions 5

total

in M2#

in M3 only

7

Overnight
RPs8

Overnight
Eurodollars9

General
purpose and
broker/dealer
money market
funds
142. 1
144.8

4.7
4.8

238.6
240. 1

98.3
100.3

34. 1
35. 4

132.4
135.7

1684.9
1698.1

525.7
537.9

45.9
45.3

11.4
11.3

1:1
5.4

248.6
242. 1
247.8

103.4
100.3
101.7

37.3
37. 1
38. 1

140.6
137.4
139.8

1706.6
1714.0
1724.3

546.7
561.4
568.2

45.2
46.2
43.3

11. 1
12. 1
12.6

145.9
146.5
148.9

156.3
156.5
156.5

5.8
5.7
5.4

248.4
243.8
246. 1

101.0
100.7
101.7

38.4
38.2
38.8

139.4
138.9
140.5

1735.8
1742.7
1750.1

578.0
587.3
592.6

42.7
45.0
44. 1

13.6
13.4
12.6

150.5
150.6
152. 1

OCT.
NOV.
DEC.

156.7
158.7
160.9

5.0
4.8
4.9

245.8
248.9
257.4

101.5
103. 1
105.9

39.3
40.4
41.3

140.8
143.4
147.2

1767.8
1787.9
1805.9

604.9
616.5
626.0

44.7
47.9
45.2

12.1
10. 1
12.4

155.6
162.0
167.7

1985-JAN.
FEB.

158.3
158.6

4.9
5.0

254.9
244.9

108.3
107.7

41. 8
42.3

150. 1
150.0

1835.7
1854.8

620.6
620.7

48.7
56.2

14.0
13. 1

172.2
175.4

157.8
159.4
159.0
157.7

247.7
245.3
245.3
241.4

107.2
108.6
107.3
107.0

42.3
42.8
41.9
41.7

149.5
151.4
149.2
148.7

52.9
52.4
56.9
59.7

14.0
13. 1
11.9
14.3

173.7
175. 1
175.4
176. 1

159.0
160.4
159.8

246.7
247.8
246.6

109.6
110.7
109.6

43.4
44. 1
43.4

153.0
154.8
153.0

59.5
56.9
55. 1

12. 1
10. 1
11.6

177.0
178.2
177.8

1984-FEB.
MAR.

148.3
149.9

APR.
MAY
JUNE

151.6
152.9
154.9

JULY
AUG.
SEPT.

•

WEEK E N D I N G :
1985-FEB.

4
11
18
25

MAR.

4
11
18

V
2/
3/

4/

5/

6/
7/

8/
9/

P
P

CURRENCY 0 0 T S I D E T H E U . S . T R E A S P 1 T , F E D E R A L R E S E R V E BARKS AMD T H E V A U L T S OF COMMERCIAL B A M S .
EXCLUDES THE E S T I M A T E D
AMOUNT O F VAULT CASH HELD BY T H R I F T I N S T I T U T I O N S TO S E R V I C E T H E I R OCD L I A B I L I T I E S .
O U T S T A N D I N G AMOUNT OF U . S . D O L L A R - D E N O M I N A T E D T R A V E L E R S CHECKS OF NONBANK I S S U E R S . T R A V E L E R S C H E C K S I S S U E D BY D E P O S I T O R Y
I N S T I T U T I O N S ARE I N C L U D E D I N DEMAND D E P O S I T S .
DEMAND D E P O S I T S AT COMMERCIAL &ANKS OTHER THAN T H O S E DUE T O D O M E S T I C B A N K S , T H E U . S . GOVERNMENT AND F O R E I G N BANKS AND
O F F I C I A L I N S T I T U T I O N S , L E S S CASH I T E M S I N T H E P R O C E S S O F C O L L E C T I O N AND F . R . F L O A T , L E S S THE E S T I M A T E D AMOUNT O F DEMAND
D E P O S I T S HELD AT COMMERCIAL BANKS BY T H R I F T I N S T I T U T I O N S TO S E R V I C E T H E I R OCD L I A B I L I T I E S .
C O N S I S T S O F NOW AND ATS BALANCES AT COMMERCIAL B A N K S , U . S . BRANCHES AND A G E N C I E S OF F O R E I G N B A N K S , AND EDGE ACT
C O R P O R A T I O N S , I N C L U D E S S U P E R NOUS O F $ 3 7 . 8 B I L L I O N I N T H E WEEK ENDED MARCH
4 , $ 3 7 . 8 B I L L I O N I N THE WEEK ENDED MARCH
1 1 , AND $ 3 7 . 8 B I L L I O N I N THE WEEK ENDED MARCH 1 8 .
C O N S I S T S O F NOW AND ATS BALANCES AT S A V I N G S AND LOAN A S S O C I A T I O N S AND MUTUAL S A V I N G S B A N K S , C R E D I T UNION S H A R E
DRAFT B A L A N C E S , AND DEMAND D E P O S I T S AT T H R I F T S . I N C L U D E S S U P E R NOWS OF $ 1 5 . 2 B I L L I O N I N T H E WEEK ENDED MARCH
4, $15.4
B I L L I O N I N THE WEEK ENDED MARCH 1 1 , AND $ 1 5 . 2 B I L L I O N I N THE WEEK ENDED MARCH 1 8 .
SUM OF O V E R N I G H T R P S AND E U R O D O L L A R S , MONEY MARKET FUND BALANCES ( G E N E R A L P U R P O S E AND B R O K E R / D E A L E R ) , MMDAS AND S A V I N G S
AND SHALL T I M E D E P O S I T S L E S S T H E E S T I M A T E D AMOUNT OF DEMAND D E P O S I T S AND VAULT CASH HELD BY T H R I F T I N S T I T U T I O N S TO S E R V I C E
T H E I R T I M E AND S A V I N G S D E P O S I T L I A B I L I T I E S .
SUM OF LARGE T I M E D E P O S I T S , TERM R P S AND EURODOLLARS OF U . S . R E S I D E N T S , MONEY MARKET FUND BALANCES ( I N S T I T U T I O N - O N L Y ) , L E S S
C O N S O L I D A T I O N ADJ US T M E NT THAT R E P R E S E N T S THE E S T I M A T E D AMOUNT OF O V E R N I G H T R P S AND EURODOLLARS HELD BY I N S T I T U T I O N - O N L Y
MONEY MARKET MUTUAL F U N D S .
C O N S I S T S O F O V E R N I G H T AND C O N T I N U I N G CONTRACT R P S I S S U E D BY COMMERCIAL BANKS TO OTHER THAN D E P O S I T O R Y I N S T I T U T I O N S AND
MONEY MARKET MUTUAL FUNDS (GENERAL P U R P O S E AND B R O K E R / D E A L E R ) .
I S S U E D BY FOREIGN BRANCHES O F U . S . BANKS WORLDWIDE TO U . S . R E S I D E N T S OTHER THAN D E P O S I T O R Y I N S T I T U T I O N S AND
HONEY MARKET MUTUAL FUNDS ( G E N E R A L P U R P O S E AND B R O K E R / D E A L E R ) .




A

H.6 (508)
Table 5-continued

COMPONENTS O F THE MONEY STOCK, LIQUID ASSETS AND DEBT
Billions of dollars, not seasonally adjusted
Money market deposit accounts
at
at
thrift
total
commercial
Institutions
banks

Date

at
commercial
banks

Savings deposits 1
at
thrift
institutions

total

Small denomination time deposits 2
at
at
total
thrift
commercial
Institutions
banks

Large denomination time deposits 3
at
at
total
thrift
commercial
4
institutions
banks

1984-FEB.
MAR.

239.0
243.4

151.0
153.4

390.0
396.9

130. 1
130.4

171.0
172.6

301. 1
303.0

356.2
357.6

445.3
446.3

801.6
803.9

231.4
234.8

112. 1
115.2

343.4
349.9

APR.
MAY
JUNE

246.3
245.3
245.9

154.7
154.1
151.9

401.0
399.4
397.8

130.7
130.2
130.0

173.7
173.8
174.4

304.5
304.0
304.4

-8.0
362.0
367. 1

448.2
450.9
457.2

806. 1
812.9
824.4

235. 4
243. 1
248.5

119.3
124.6
129.7

354.7
367.7
378.2

JULY
AUG.
SEPT.

244.9
243.6
244.8

149.3
145.4
143.9

394.2
388.9
388.7

129.3
126.8
125.2

173.3
168.8
167.3

302.5
295.6
292.5

372.7
379.9
384.0

466.6
475.9
483.3

839.3
855.8
867.3

253.5
256.4
259.3

134.6
138.7
138.7

388.0
395. 1
398.0

OCT.
NOV.
DEC.

248.2
257.1
267.1

144.0
145.5
148.1

392. 1
402.6
415.2

124.3
122.7
121.4

167.3
166.0
164.8

291.6
288.7
286.2

386.2
387. 1
387.6

492.6
496.8
498.8

878.8
883.9
886.4

264.0
263.6
265.9

143.6
148. 1
151.6

407.6
411.7
417.5

1985-JAN.
FEB.

280.4
289.3

153.3
159.1

433.8
448.4

121. 1
120.4

165.7
166.5

286.8
287.0

386.3
384. 1

501.6
498.3

887.9
882.4

263. 1
263.8

154.5
155.3

417.5
419. 1

WEEK ENDING
1985
FEB.

MAR.

1/
2/
3/
4/

4
11
18
25
4
11
18

P
P

285.8
288.1
289.5
290.7

120.5
120.7
120.5
120. 1

384.7
384.5
384.3
383.6

260.8
263.3
263.6
265.4

292.6
293.5
293.8

120.3
120.6
120.5

383.4
383.2
383.3

266.5
268. 1
269.0

SAVINGS D E P O S I T S EXCLUDE MMDAS.
SMALL DENOMINATION TIME D E P O S I T S — INCLUDING R E T A I L HPS — ARE THOSE I S S U E D I N AMOUNTS OF L E S S THAN $ 1 0 0 , 0 0 0 .
ALL
I N D I V I D U A L RETIREMENT ACCOUNTS ( I R A ) AND KEOGH ACCOUNTS AT COMMERCIAL BANKS AND T H R I F T S ARE SUBTRACTED FROM SHALL
TIME D E P O S I T S .
LARGE DENOMINATION TIME D E P O S I T S ARE THOSE I S S U E D I N AMOUNTS OF $ 1 0 0 , 0 0 0 OR MORE, EXCLUDING THOSE BOOKED AT INTERNATIONAL
BANKING F A C I L I T I E S ( I B F S ) .
LARGE DENOMINATION TIME D E P O S I T S AT COMMERCIAL BANKS L E S S THOSE HELD BY MONEY MARKET MUTUAL FUNDS, DEPOSITORY
I N S T I T U T I O N S AND FOREIGN BANKS AND O F F I C I A L I N S T I T U T I O N S .




H.6 (506)
Table 5-contlnued

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

Institution
only money
market funds

Date

Term RPs
at commercial
banks

7

1

at thrift
Institutions

total

Term
Eurodollars'

Savings
bonds

Non M3 Components of L
Short-term
Bankers
treasury
acceptances 4
securities'

Components of Debt
Commercial
paper 1

Federal debt*

Non-Federal*
debt

1984-FEB.
MAR.

44.6
45.0

32.2
31.9

19.2
21.6

51.4
53.5

89.4
93.2

71.8
72. 1

238.1
251.2

43. 1
43.0

137.6
141.2

1210.7
1223.6

4113.7
4150.7

APR.
MAY
JUNE

45.0
45.3
45.7

32.5
32.0
29.2

24.8
27.5
30.0

57.3
59.5
59.2

93. 1
93.6
89.5

72.3
72.6
72.8

244. 1
238.8
249. 1

43.4
45.7
47.2

146.4
152. 1
158.3

1235.9
1248.7
1255.8

4195.8
4244.7
4296.5

JULY
AUG.
SEPT.

46.1
46.2
46.9

28.1
30.7
31.3

31.8
33.4
35.4

60.0
64. 1
66.6

88.4
86.7
86.0

73.0
73.3
73.5

258.0
267.9
277.5

47.5
47.7
47.2

161.2
159.8
158.4

1270.8
1295.8
1310.5

4342.8
4378.2
4417.8

OCT.
NOV.
DEC.

52.2
58.3
62.7

33. 1
35.4
32.5

36. 1
35.3
37.3

69. 3
70.7
69.7

81.0
81.9
83.2

73.8
74.0
74.2

278.2
272.3
269. 1

45. 1
43.3
42.8

158.3
159.4
156.9

1323.0
1343.0
1364.7

4463.9
4512.9
4566.3

19 8 5 - J A N .
FEB.

65.0
62.2

29.9
31.2

35.0
34.6

64.9
65.8

81.3
81.8

1383.1

4609.2

64.3
63.3
61.8
60.7

29.4
30.9
31.2
32. 1

61.5
59.8
58.4

32.2
31.6
33.2

WEEK E N D I N G :
1985-FBB.

4
11
18
25

MAR.

4
11
18

1/
2/
3/
4/
5/
6/

P
P

TERM BPS ABE THOSE WITH ORIGINAL MATURITIES GREATER THAN ORE DAY, EXCLUDING CONTINUING CONTRACTS AND RETAIL B P S .
INCLUDES
A RELATIVELY SHALL AMOUNT OP OVERNIGHT BPS AT T H R I F T I N S T I T U T I O N S .
TERM EURODOLLARS ARE THOSE WITH O R I G I N A L MATURITIES GREATEB THAN ONE DAY. C O N S I S T S OF THOSE I S S U E D TO U . S . B E S I D E N T S BY
FOREIGN BRANCHES OF U . S . BANKS WORLDWIDE AND BY ALL BANKING O F F I C E S I N THE UNITED KINGDOM AND CANADA. EXCLUDES THOSE HELD
BY DEPOSITORY I N S T I T U T I O N S AND MONEY MARKET MUTUAL FUNDS.
C O N S I S T S OF U . S . TREASURY B I L L S AND COUPONS WITH REMAINING MATURITIES OF L E S S THAN 12 MONTHS HELD BY OTHER THAN DEPOSITORY
I N S T I T U T I O N S , FEDERAL RESERVE BANKS, MONEY MARKET MUTUAL FUNDS, AND FOREIGN E N T I T I E S .
NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOREIGN O F F I C I A L I N S T I T U T I O N S , THE FEDERAL
HOME LOAN BANK SYSTEM AND MONEY MARKET MUTUAL FUNDS.
TOTAL COMMERCIAL PAPER L E S S COMMERCIAL PAPER HELD BY MONEY MARKET MUTUAL FUNDS.
DEBT DATA ARE ON A MONTHLY AVERAGE B A S I S , DERIVED BY AVERAGING END-OF-MONTH LEVELS OF ADJACENT MONTHS, AND HAVE BEEN
ADJUSTED TO REMOVE D I S C O N T I N U I T I E S .




H .6 (508)
Table 6

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

Date

foreign
commercial
banks

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

IRA and Keogh Accounts

total demand
time
deposits and
and savings
note and
* deposits at
FR balances
commercial
banks

commercial
banks

thrift
institutions

money
market
mutual funds

total

1984—FEB#
HAS.

8.9
8.4

2.0
2.0

7.8
7.7

3. 1
3.0

4.7
4.0

19.2
14.5

27.0
21.5

0.9
0.9

32.4
34.2

45.4
47.4

5.5
5.7

#3.3
87.3

APR.
MAY
JUNE

8.3
8.7
8.6

1.9
2. 1
2.0

8.0
8.2
8.4

3.8
2.7
3.9

6.7
4.6
3.8

12.7
10.0
8.5

23.2
17.4
16.2

0.9
0.9
0.9

38. 1
39.4
40.0

51. 1
52.9
53.9

6.2
6.3
6. 2

95.4
98.6
100.0

JULY
AUG.
SEPT.

8.7
8.4
8.4

2.0
1.9
2.0

8.4
9.0
9.4

2.8
2.9
3.4

4.0
3.6
6. 0

9.0
7.5
14. 1

15.8
13.9
23.6

0.9
0.9
1.0

40.6
41.3
41.9

54.7
55. 1
55.9

6.2
6. 2
6.2

101.5
102.7
104.0

OCT.
NO?.
DEC.

8.5
8.8
8.6

1.8
2. 1
2.0

9.2
9.4
9.5

2.7
2.8
3.4

4.0
3. 2
3.4

8.4
7.5
9. 1

15. 1
13.6
16.0

1.0
1. 1
1.0

42.6
43.2
43.8

56.9
57.7
59.0

6.2
6.5
6.7

105.7
107.3
109.5

1985-JAN.
FEB.

8.5
8.3

1.9
2. 1

9.2
8.9

3.7
3.2

4.0
4.3

14.9
12.7

22.5
20. 1

1.1
1.1

45.3
47.0

61.4
64.0

7 . 1e
7. 4e

113.7e
118.4e

8.4
8.2
8.3
8.6

2.3
2.3
2.1
1.9

9.0
8.9
8.9
8.9

3.0
2.9
3.5
3.2

4.8
5.2
3.7
4.2

16.6
10.5
11.6
13.9

24.5
18.6
18.9
21.3

1.1
1.1
1.1
1.1

8.0
7.6
7.4

1.9
1.8
1.8

8.9
8.8
8.7

2.9
3.0
6.3

3.2
4. 2
3.7

12.1
5.0
5.5

18.2
12.2
15.5

1.0
1.1
1.0

WEEK
1985
FEB.

MAR.

ENDING:

4
11
18
25
4
11
18

P
P

e = estimated