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FEDERAL RESERVE statistical release
These data are scheduled for release each Thursday at 4:30 p.m.

H.6 (508)
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

MARCH

Billions of dollars

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

Date

M2
M3
M1 plus overnight RPs
M2 plus
and Eurodollars,
large time deposits,
MMMF balances (gen. pur. term RPs, term Eurodollars
and broker/dealer), MM OAs,
and institution-only
and savings and small
MMMF balances 3
time deposits 2
Seasonally adjusted

1985—JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.

562.9
569.3
572.2
575.7
582.5
590.9
596.2
604.8
611.5
614.1
620.0
626.5

2399.9
2421.8
2429.4
2434.4
2451.9
2479.0
2496.1
2515.4
2529.5
2538.3
2550.6
2565.5

3013.5
3033.8
3046.6
3052.2
3070. 3
3098.7
3113.9
3132.7
3153.1
3166.1
3180.8
3199. 1

1986 —JAN.

627. 1

2569.3

3222.3

6,

198b

L

Debt

M3 plus other
liquid assets 4

Debt of domestic
nonfinancial sectors'

'

3557.6
3588.8
3612.7
3618.7
3636.9
3665.3
3684.2
3713.3
3743.4
3762.7
3799.6

5992.6
6048.2
6103.8
6 1b5. 4
6228.6
6290.8
6356.0
6419.6
6479.1
6542.8
6628.5
6741.J

3562.8
3581.9
3616. 1
3626.2
3625.2
3665.6
3684.2
3711.9
3739.7
3761.1
3801.8

5985.9
6027.6
6075.8
6136.9
6201.4
6266.9
6334.2
6400.2
6463.7
6529.1
6616.0
6737.3

Not seasonally adjusted
1985—JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEPT.
OCT.
NOV.
DEC.

568.4
558.7
565.0
581.7
576.5
592.7
599.6
602.0
609. 1
612. 1
621.6
639.8

2407.3
2415.3
2430.9
2443.1
2444.1
2480.7
2501.0
2510.9
2521.0
2533.7
2549.0
2573.6

3019.9
3026.4
3046.9
3058.2
3064.3
3098.6
3111.4
3128.6
3146.6
3163. 1
3184.3
3211.8

1986—JAN.

633.4

2578.0

3230.0

For period ended
13-week average
1986-JAN.

FEB.

NOTE:

Seasonally adjusted
4-week average

M1
13-week average
627.4
629.6
630.9
631.9

645.3
647.0
644.8
637.7

662.4
643.3
631.5
613.7

631.7
631.9
631.6
631.5

626. 1
621.3
618.1
618.5

616.0
623. 9
618.9
615.0

6
13
20
27

621.3
622.4
623.3
624.2

627.8
627.9
627.7
627.6

629.7
626. 1
627.2
627.5

3
10
17 P
24 P

624.9
626.0
626.9
627.8

626.4
627.7
628.5
630. 1

624.8
631.2
630.3
634.0

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 PRELIMINARY DATAFOOTNOTES APPEAR ON THE FOLLOWING PAGE




Not seasonally adjusted
4-week average

week average

B E E K - T O - B E E K CHANGES I N

week average

MONEY SUPPLY DATA,

BHICH ARE

Table 2

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

M2

M3

Debt1

3 MONTHS FBOM OCT.

1 9 8 5 TO J A N .

1986

8.5

4.9

7.1

16.2

6 MONTHS FBOM JULY

1 9 8 5 TO J A N .

1986

10.4

5.9

7.0

14.3

1 2 MONTHS FROM J A N .

1 9 8 5 TO J A N .

1986

11.4

7. 1

6.9

13.7

THIBTEEN WEEKS ENDING FEB- 2 4 , 1 9 8 6
FBOM THIRTEEN WEEKS ENDING:

1/

1/

2/

3/

4/
5/

8.9

NOV.

25,

1985

( 1 3 WEEKS PREVIOUS)

AUG.

26,

1985

(26

WEEKS PREVIOUS)

10.6

FEB.

25,

1985

(52

WEEKS PREVIOUS)

11.6

GROWTH BATES FOB DEBT ABB BASED OH PERIODS BEGINNING AND ENDING ONE MONTH EABLIEB THAN FOB THE MONETAMI AGGBEGATES,
NAMELY, SEPTEMBER 1 9 8 5 TO DECEMBEB 1 9 8 5 , JUNE 1 9 8 5 TO DECEMBEB 1 9 8 5 , AND DECEMBEB 1 9 8 4 TO DECEMBEB 1 9 8 5 , BESPECXIVELY.
FOOTNOTES TO TABLE 1
C O N S I S T S OF ( 1 ) CURBENCY OUTSIDE THE TREASURY, FEDERAL RESERVE BANKS, AND THE VAULTS OF COMMEBCIAL 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 DOE 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 ITEMS I N THE PBOCESS
OF COLLECTION AND FEDEBAL RESERVE FLOAT; 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 OBDEB
OF WITHDRAWAL (NOW) AND AUTOMATIC TRANSFER S E R V I C E (ATS) ACCOUNTS AT D E P O S I T O B I I N S T I T U T I O N S ,
CREDIT 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 CUBBENCY AND DEMAND
D E P O S I T COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AND DEMAND D E P O S I T S , B 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 SEBVICE THEIR OCD L I A B I L I T I E S .
C O N S I S T S OF M1 PLUS OVERNIGHT (AND CONTINUING CONTBACT) BPS I S S U E D BY ALL COMMEBCIAL BANKS AND OVEBNIGHT EURODOLLARS
I S S U E D TO U . S . RESIDENTS BY FOREIGN BBANCHES OF U . S . BANKS WOBLDWIDE, HMDAS, SAVINGS AND SMALL DENOMINATION
f 1 M B D E P O S I T S (TIME D E P O S I T S — I N C L U D I N G R E T A I L B 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 GENEBAL PURPOSE AND BBOKBB/DBALEB MONEY MARKET MUTUAL FUNDS. EXCLUDES IRA AND KEOGH
BALANCES AT DEPOSITOBY I N S T I T U T I O N S AND MONEY MARKET FUNDS. ALSO EXCLUDES ALL BALANCES HELD BY U . S . COMMEBCIAL
BANKS, MONEY MABKET FUNDS (GENEBAL PUBPOSE AND BBOKEB/DEALEB), FOBEIGN GOVERNMENTS AND COMMEBCIAL BANKS, AND
THE U . S . GOVERNMENT.
ALSO SUBTBACTED I S A CONSOLIDATION ADJUSTMENT THAT BEPBESENTS THE ESTIMATED AMOUNT
OF DEMAND D E P O S I T S AND VAULT CASH HELD BY T H B I F T I N S T I T U T I O N S TO S E B V I C E THEIH TIME AND SAVINGS D E P O S I T S .
C O N S I S T S OF M2 PLUS LABGE DENOMINATION TIME D E P O S I T S ( I N AMOUNTS OF $ 1 0 0 , 0 0 0 OB MOBE) AMD TEBM BP L I A B I L I T I E S I S S U E D
BY COMMEBCIAL BANKS AND T H R I F T I N S T I T U T I O N S , TEEM EUBODOLLABS HELD BY U . S . B E S I D E N T S AT FOBEIGN BBANCHES OF U . S . BANKS
WORLDWIDE AND AT ALL BANKING O F F I C E S IN THE UNITED KINGDOM AND CANADA, AND BALANCES I N BOTH TAXABLE AND TAX-EXEMPT
I N S T I T U T I O N - O N L Y MONEY MABKET MUTUAL FUNDS.
EXCLUDES AMOUNTS HELD BY DEPOSITOBY I N S T I T U T I O N S , THE U . S . GOVEBNMENT, MONEY
MARKET FUNDS, AND FOBEIGN BANKS AND O F F I C I A L I N S T I T U T I O N S .
ALSO SUBTBACTED I S A CONSOLIDATION ADJUSTMENT THAT BEPBESENTS
THE ESTIMATED AMOUNT OF OVEBNIGHT BPS AND EUBODOLLABS HELD BY I N S T I T U T I O N - O N L Y MONEY MABKET MUTUAL FUNDS.
C O N S I S T S OF M3 PLUS THE NONBANK P U B L I C HOLDINGS OF U . S . SAVINGS BONDS, SHOBT-TEBM TBEASUBY S E C U R I T I E S , COMMEBCIAL
PAPER AMD BANKEBS ACCEPTANCES, NET OF MONEY MABKET MUTUAL FUND HOLDINGS OF THESE A S S E T S .
DEBT OF DOMESTIC NONFINANCIAL SECTORS C O N S I S T S OF OUTSTANDING CREDIT MARKET DEBT OF THE UNITED STATES GOVEBNMENT,
STATE AMD LOCAL GOVEBNHENTS AND PBIVATE NONFINANCIAL SECTOBS.
PBIV A TB DEBT C O N S I S T S OF COBPOBATE BONDS, MOBTGAGES,
CONSUMER CBBDIT (INCLUDING BANK L O A N S ) , OTHEB BANK LOANS, COMMEBCIAL PAPEB, BANKEBS ACCEPTANCES AND OTHEB DEBT
INSTRUMENTS. THE DATA ABE 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 MONTH-END LEVELS OF ADJACENT MONTHS.
THE
DATA HAVE ALSO BEEN ADJUSTED TO BEHOVE 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 IN THE UNDERLYING FLOW OF FUNDS S T A T I S T I C S .
THE PRESENTATION OF DEBT DATA IN T H I S 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
I N THE FEDERAL RESERVE RELEASES Z . 7 AND Z . 1 .
IN THOSE RELEASES, PUBLISHED LEVELS OF CREDIT MARKET DEBT ABB MEASUBED ON
A QUARTER-END B A S I S AND INCLUDE D I S C O N T I N U I T I E S .




H i <80*
We 3

COMPONENTS OF THE MONEY STOCK
•Nitons of dollars, seasonally sdfustsd

Dm*

Currency1

Trmters
checks*

Demand
dsposlte'

Other
checkable
dspoerts4

components
In MS
only*
mutt*

Saving* deposits7
at
at
total
thrift
commercial
Institutions
I banks

Selected nontransacttons Hems
Smell time depoelts*
at
at
thrift
total
commercial
Institutions
banks

1*1as time depotIMSat
total
thrift
banks" Institutions
at

121.8
121.6
121.1

167.7
168.4
168.7

289.4
289.9
289.7

386.3
385.0
385.2

501. 1
500.2
499.7

887.4
885.2
885.0

263. 1
263.8
268.2

152.6
153. 1
152.7

415.6
416.9
421.0

617.8
618.3
619.7

120.3
121.2
122.1

168.7
169.6
171.5

289.0
290.8
293.6

387.1
387.7
387.6

500.5
501.8
502.6

887.6
889.5
890.3

272.3
269.3
267.3

153.6
155.7
155.4

425.9
425.0
422.7

1899.8
1910.6
1918.0

617.8
617.4
623.7

122.9
123.7
124.0

173.8
176.0
176.3

296.7
299.7
300.3

386.7
383.4
382.7

501.3
497.5
495.6

888.0
880.9
878.3

264.0
268.0
272.4

154.3
154.1
155. 1

418.3
422. 1
427.4

173.6
176.6
178.5

1924.2
1930.6
1938.9

627.7
630.2
633.7

124.4
124.8
124.4

177.9
179.0
179.1

302.3
303.7
303.6

382.0
382.2
384. 1

493.7
493.7
496.2

875.7
876.0
880.3

274.3
276.7
279. 1

155.9
156.2
157.3

430.2
432.9
436.4

268.9

180.4

1942.1

653.0

124.7

179.3

304.0

386.5

499.6

886.1

289.8

158.2

447.9

1985-JAN.
FEB.
MAR.

159.6
160.7
161.3

5.3
5.3
5.4

249.0
251.2
251.4

149.0
152.2
154.1

1837.0
1852.5
1857.2

613.6
611.9
617.2

APR.
MAY
JUNE

161.9
163.2
164.4

5.5
5.5
5.7

251.8
255.4
259.0

156.5
158.4
161.8

1858.7
1869.5
1888.1

JULY
AUG.
SEPT.

165.3
166.9
167.7

5.8
5.9
5.9

260.4
263.1
266.4

164.8
169.0
171.5

OCT.
NOV.
DEC.

168.7
169.8
170.6

5.9
5.9
5.9

266.0
267.8
271.5

1986-JAN.

171.9

5.9

•

|

WEEK ENDING
1986
JAN.

FEB.

1/

2/
3/

4/

5/
6/
7/
8/
9/
10/

6
13
20
27

171.3
171.8
172.3
172.4

272.9
268.2
268.3
268.0

179.6
180.2
180.7
181.2

124.6
124.8
124.7
124.8

385.8
386.2
386.4
387.0

286.1
288.7
290.2
291.6

3
10
17 P
24 P

172.2
172.8
173.0
173.2

266.7
269.4
268.0
271.0

179.9
183. 1
183.5
183.8

124.7
124.9
124.9
125.2

387.4
387.7
387.8
387.7

293.3
292.7
291.8
289.4

1

CURRENCY OUTSIDE THE U . S . TREASURY, FEDERAL RESERVE BANKS AND FAULTS OF COMMERCIAL BANKS.
EXCLUDES THE ESTIMATED
AMOUNT OF VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD L I A B I L I T I E S .
OUTSTANDING AMOUNT OF U . S . DOLLAR-DENOMINATED TRAVELERS CHECKS OF NONBANK I S S U E R S . TRAVELERS CHECKS ISSUED BY DEPOSITORY
I N S T I T U T I O N S ARE INCLUDED IN DEMAND D E P O S I T S .
DEMAND DEPOSITS AT COMMERCIAL BANKS AND FOREIGN RELATED INSTITUTIONS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U . S . GOVERNMENT AND FOREIGN BANKS AND O F F I C I A L INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND FEDERAL RESERVE FLOAT.
EXCLUDES THE ESTIMATED AMOUNT OF DEMAND DEPOSITS HELD AT COMMERCIAL BANKS BY THRIFT I N S T I T U T I O N S TO SERVICE THEIR OCD
LIABILITIES.
CONSISTS OF NOV AND ATS BALANCES AT ALL DEPOSITORY I N S T I T U T I O N S , CREDIT UNION SHARE DRAFT BALANCES AID
DEMAND DEPOSITS AT THRIFT I N S T I T U T I O N S .
OTHER CHECKABLE DEPOSITS SEASONALLY ADJUSTED EQUALS THE DIFFERENCE BETWEEN THE
SEASONALLY ADJUSTED SUE OF DEMAND DEPOSITS PLUS OCD AND SEASONALLY ADJUSTED DEMAND D E P O S I T S . INCLUDED ARE ALL CEILING
FREE "SUPER N O N S , " AUTHORIZED BY THE DEPOSITORY I N S T I T U T I O N S DEREGULATION COMMITTEE TO BE OFFERED BEGINNING JANUARY 5 ,
1983.
SUM OF OVERNIGHT RPS AND OVERNIGHT EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER),
MMDAS, AND SAVINGS AND SHALL TIME D E P O S I T S , LESS THE CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF
DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS L I A B I L I T I E S .
SUM OF LARGE TIME D E P O S I T S , TERM RPS AND TERM EURODOLLARS OF U . S . RESIDENTS, HONEY MARKET FUND BALANCES ( I N S T I T U T I O N ONLY), LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY
INSTITUTION-ONLY MONEY MARKET FUNDS.
SAVINGS DEPOSITS EXCLUDE MMDAS.
SHALL DENOMINATION TIME DEPOSITS—INCLUDING RETAIL R P S — ARE THOSE ISSUED IN AMOUNTS OF LESS THAN $ 1 0 0 , 0 0 0 . ALL
INDIVIDUAL RETIREMENT ACCOUNTS (IRA) AND KEOGH ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS ARE SUBTRACTED FROM SHALL
TIME D E P O S I T S .
LARGE DENOMINATION TIME DEPOSITS ARB THOSE ISSUED IN AMOUNTS OF $ 1 0 0 , 0 0 Q OR MORE, EXCLUDING THOSE BOOKED AT
INTERNATIONAL BANKING F A C I L I T I E S .
LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS THOSE HELD BY MONEY MARKET MUTUAL FUNDS,
DEPOSITORY INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL I N S T I T U T I O N S .




H.6 (509)
Table 4

C O M P O N E N T S O F LIQUID A S S E T S AND DEBT
Billions of dollars, seasonally adjusted
Date

savings bonds

Non-M3 components of L
bankerTacceptances:
short-term treasury
securities 1

2/
3/
4/

Debt components^.
federal debt
I
non federal debt

19 8 4 - D E C .

74.3

266.0

43.6

161.8

1367.4

4559.6

1 9 8 5 - J AN.
FEB.
MAR.

74.5
74.9
75.3

2b6. 7
270.4
274.6

43.3
45.0
46. 3

159.6
164.8
169.8

1384.9
1399.4
1409.3

4607.a
4648.8
4694.5

APR.
MAY
JUNE

75.7
76.1
76.5

276.0
277.4
282.6

45.9
44.5
42.8

168.9
168.6
164.7

1423. 1
1441.4
1458.3

4742.3
4787.1
4832.5

JULY
AUG.
SEPT.

76.7
77.2
78.0

280.3
279.2
283.2

42.2
42.2
42.5

171.1
182.0
186.6

1478.5
1496.1
1505.6

4877.5
4923.5
4973.5

OCT.
NOV.
DEC.

78.5
79.0

282.6
299.8

191.7
196.8

1516.6
1548.3
1586.3

5026.2
5080.3
5155.0

!

1/

commercial paper 3

i

43.9
4J, 1

C O N S I S T S OF U . S . T R E A S U R Y B I L L S AND COUPONS W I T H R E G A I N I N G M A T U R I T I E S O F L E S S THAN 1 2 MONTHS H E L D BY OTHER THAN D E P O S I T O R Y
I N S T I T U T I O N S , F E D E R A L R E S E R V E B A N K S , MONEY MARKET MUTUAL F U N D S AND F O R E I G N E N T I T I E S .
NET OF B A N K E R S A C C E P T A N C E S HELD BY A C C E P T I N G B A N K S , V&DESikL R E S E R V E B A N K S , F O R E I G N O F F I C I A L I N S T I T U T I O N S , THE F E D E R A L
HOM& LOAN BANK SYSTEM AND MONEY MARKET MUTUAL F U N D S .
T O T A L COMMERCIAL P A P E R L E S S COMMERCIAL P A P E R HELD BY
DEBT DATA ARE ON A MONTHLY AVERAGE B A S I S , D E R I V E D BY
ADJUSTED

TO REMOVE D I S C O N T I N U I T I E S .




MONEY MARKET MUTUAL F U N D S .
AVERAGING ENU-OF-MONTH LEVELS

OF A D J A C E N T

MONTHS,

AND HAVE BEEN

H.6 (508)
Table 5

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

Other checkable deposits
Date

Currency1

Travelers
checks 2

Demand
deposits 3

at commercial
banks 4

at thrift
institutions 5

total

in M26

in M3 only7

Overnight
RPs8

Overnight
Eurodollars9

General
purpose and
broker/dealer
money market
funds

1985-JAB.
FEB.
MAR.

158.3
158.5
159.8

4.9
5.0
5.1

254.8
244.6
245.9

108.3
107.7
109.9

42.2
42.8
44.4

150.5
150.6
154.2

1838.9
1856.6
1865.9

612.6
611.1
616.0

46.2
51.3
50.9

14.2
13.3
12.4

171.9
175. 1
177.6

APR.
MAT
JUNE

161. 1
163.1
165. 1

5.2
5.4
5.9

254.6
251.0
259.4

114.1
110.5
113.8

46.7
46.5
48.4

160.8
157.0

162.2

1861.3
1867.6
1888.0

615.2
620.3
618.0

45.8
48.5
48. 1

12.0
12.8
12.7

176.2
172.2
175.4

166.8

6.5

167.7
167.6

6.6

6.2

261.8
260.4
265.0

115.0
117.0
119.0

49.5
50.3
51.3

164.5
167.3
170.3

1901.4
1908.9
1911.9

610-4
617.7
625.7

48.3
49.4
50.2

12.4
14.2
13.9

175.8
176.8
176.7

OCT.
NO?.
DEC.

168.4
170.7
173.1

5.9
5.6
5.5

265.6
269.0
281.3

119.7
122.5
125.7

52.5
53.8
54.4

172.2
176.3

180.0

1921.6
1927.4
1933.7

629.4
635.3
638.2

50.4
51.9
52.5

14.2
13.8
16.7

177.0
176.8
176.5

1986-JAN.

170.5

5.5

275.1

128.0

54.3

182.3

1944.6

652.0

49.4

18.7

177.8

172.4
171.4
170.6
169.0

297.7
280.7
272.6
261.9

130.7
130.7
128.4
124.7

56. 1
55. 1
54.3
52.6

186.8
185.8
182.7
177.3

50.2
48.4
47.3
51. 1

21.6
19.3
17.6
17.4

172.9
176.5
179.2
180.4

169.2
171.4
171.2
169.9

262.7
263.8
261.7
259.9

125.0

53.6
55. 1
54. 1
53.6

178.6
183. 1
180.4
179.6

50.3
49.6
51.3
54. 1

17.1
15.4
16.5
17.0

180.0
180.6
181.0
180.9

JULY
AUG.
SEPT.

WEEK ENDING:
1986-JAN.

6
13
20
27

FEB.

3

10
17
24

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

128.0
126.4
126.0

EXCLUDES THE ESTIMATED
CURRENCY OUTSIDE THE U . S . TREASURY, FEDERAL RESERVE BANKS AND THE VAULTS OF COMMERCIAL BANKS.
AMOUNT OF 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 THEIR OCD L I A B I L I T I E S .
_ f f t _ oir
OUTSTANDING AMOUNT OF U . S . DOLLAR-DENOMINATED TRAVELERS CHECKS OF NONBANK I S S U E R S . TRAVELERS CHECKS I S S U E D BY DEPOSITORY
I N S T I T U T I O N S ARB INCLUDED IN DEMAND D E P O S I T S .
D1M,C
DEMAND D E P O S I T S AT COMMERCIAL BANKS OTHER THAN THOSE DUB 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 ITEMS I N THE PROCESS OF COLLECTION AND F . R . FLOAT, L E S S THE ESTIMATED 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 THEIR OCD L I A B I L I T I E S .
C O N S I S T S OF NOW AND ATS BALANCES AT COMMERCIAL BANKS, U . S . BRANCHES AND AGENCIES OF FOREIGN BANKS, AND EDGE ACT
CORPORATIONS. INCLUDES SUPER NOWS OF $ 4 7 . 9 B I L L I O N I N THE WEEK ENDED FEBRUARY 1 0 , $ 4 7 . 6 B I L L I O N I N THE WEEK ENDED
FEBRUARY
1 7 , AND $ 4 7 . 6 B I L L I O N I N THE WEEK ENDED FEBRUARY
24.
otlsnc,
C O N S I S T S OF NOW AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND MUTUAL SAVINGS BANKS, 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 S . INCLUDES SUPER NOWS OF $ 1 9 . 5 B I L L I O N I N THE WEEK ENDED FEBRUARY
$ 1 9 . 2 B I L L I O N I N THE WEEK ENDED FEBRUARY 1 7 , ANb $ 1 9 . 1 B I L L I O N IN
THE WEEK ENDED FEBRUARY 2 4 .
Mi<nac
llin
C1WTMCQ
SUM OF OVERNIGHT RPS AND EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL PURPOSE AND B R O K E R / D E A L E R ) , %MDAS AND SAVINGS
AND SHALL TIME D E P O S I T S LESS THE ESTIMATED 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 SERVICE

10,

7/

SUM^OF^LARGE TIME D E P O S I T S , TERM RPS 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 A
CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY I N S T I T U T I O N - O N L Y

8/

CONSISTS OF OVERNIGHT AND CONTINUING CONTRACT RPS I S S U E D BY COMMERCIAL BANKS TO OTHER THAN DEPOSITORY I N S T I T U T I O N S AND
MONEY MARKET MUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER).
I S S U E D BY FOREIGN BRANCHES OF U . S . BANKS WORLDWIDE TO U . S . RESIDENTS OTHER THAN DEPOSITORY I N S T I T U T I O N S AND
MONEY MARKET MUTUAL FUNDS (GENERAL PURPOSE AND BROK ER/DEA I.FR t ..

9/




H.6 (508)
Table 5-continued

COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT
Billions of dollars, not seasonally adjusted
Money market deposit accounts
at
at
total
thrift
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 den omination time <deposits 3
at
at
total
thrift
commercial
4
institutions
banks

1985-JAN.
FEB.
MAR.

280.5
289.4
294.1

155.2
161.0
166.1

435.7
450.5
460.2

121.1
120.4
120.6

167.3
167.7
169.2

288.4
288,2
289.8

386.3
384.1
383.7

504.0
501.7
498.7

890.3
885.8
882.4

262.2
263. 1
268.9

153.5
154.2
152.6

415.7
417.3
421.5

APR.
MAY
JUNE

295.9
298.4
307.5

166.6
168.0
170.6

462.5
466.4
478. 1

121.0
121.8
123.2

169.7
170.4
172.2

290.6
292.2
295.4

383.8
385.2
386.5

498.0
498.2
499.9

881.8
883.5
886.3

269.2
268.5
265.5

152.7
155.1
154.9

421.9
423.6
420.4

JULY
AUG.
SEPT.

313.2
317.9
321.3

174.0
177.3
178.5

487.2
495.2
499.8

124.4
124.0
123.7

174.6
174.9
175.4

298.9
298.9
299.1

386.5
385.3
385.1

500.6
497. 1
495.4

887. 1
882.5
880.5

263.0
268.6
274.4

153.1
153,9
155.1

416. 1
422.5
429.4

OCT.
NOV.
DEC.

324.4
329.3
332.5

179.8
180.3
179.6

504.2
509.6
512.1

124.6
124.3
123.5

178.3
179.0
178.3

302.9
303.3
301.9

384.8
384.2
384.8

496.5
496.4
497.7

881-3
880.6
882.5

276.7
278.2
280.9

156.2
157.0
157.8

433.0
435.3
438.6

1986-JAN.

336.8

179.1

515.8

123.9

178.8

302.7

386.5

502.8

889.2

288.6

159.0

447,6

NEEK ENDING
1986
JAN.

FEB.

1/
2/

3/
4/

6
13
20
27

337.0
337.7
337.1
336.2

124.4
124.3
123.8
123.4

386.1
386.4
386.6
386.6

288. 1
288. 1
288.2
289.0

3
10
17
24

335.6
336.6
336.7
337.7

123.3
123.7
123.6
123.6

386.7
386.9
386.7
386.4

290.5
290.9
290.6
288.9

P
P

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 E P S — ARB 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 SMALL
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 I N AMOUNTS OF $ 1 0 0 , 0 0 0 OR MORE, EXCLUDING THOSE 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 ( I B F S ) ,
LARGE DENOMINATION T I M E D E P O S I T S AT COMMERCIAL BANKS L E S S THOSE HELD B I MONEY MARKET MUTUAL F U N D S , D E P O S I T O R Y
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 (508)
Table 5-continued

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

Date

Institution
only money
market funds

i

Term RPs1
at commercial
banks

at thrift
institutions

total

Term
Eurodollars2

Savings
bonds

Non M3 Components of L
Short-term
Bankers
treasury
acceptances 4
securities3

Components of Debt
Commercial
paper8

Federal debt 8

Non-Federal6
debt

1985-JAN.
FEB.
MAR.

65.0
62.2
59.5

29.7
29.9
30.7

29.2
28.6
27.9

58.9
58.4
58.7

81. 1
81.3
84.7

74.6
74.9
75.3

266.8
271.6
280.8

44. 1
44.8
45.3

157.3
164.2
167.7

1383. 1
1397.4
1412.0

4602.8
4630.2
4663.8

APR.
MAY
JUNE

59.6
63.5
67. 1

32.5
31.2
31.4

27.2
26.5
25.7

59.8
57.7
57. 1

81.0
81.8
79.9

75.6
76. 1
76.5

278.4
272.1
280.2

44.7
43.9
42.3

169.3
168.8
167.9

1427.1
1443.8
1457.9

4709.8
4757.6
4809.1

JULY
AUG.
SEPT.

65.0
63.6
62.3

29.8
30.4
30.9

25.9
26.7
27.6

55.7
57. 1
58.5

79.4
80.2
80.0

76.6
77. 1
78.0

281.0
282.3
284.0

42.0
42.8
43.2

173.1
181.0
187.8

1475.8
1495.8
1506.9

4858.4
4904.4
4956.8

OCT.
NOV.
DEC.

63.3
64.5
64.6

30.2
31.3
31.6

29.4
31.7
34.'1

59.5
63.0
65.7

78.9
79.0
76. 1

78.5
79.0

282.3
296.0

43.8
43.3

193.4
199. 1

1515.6
1544.2
1583.7

5013.6
5071.9
5153.5

1986-JAN.

66.8

33.1

35. 5e

68. 6e

74.7

6
13
20
27

64.6
67.6
66.8
67.5

31.3
33.0
33.7
33.4

3
10
17 P
24 P

67.8
67.2
66.6
67.4

34.4
35.2
35.6
34.2

WEEK ENDING:
19 8 6 - J AN.

FEB.

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

TERM R p S ARE THOSE WITH ORIGINAL MATURITIES GREATER THAN ONE DAY, EXCLUDING CONTINUING CONTRACTS AND RETAIL R P S .
INCLUDES
A RELATIVELY SMALL AMOUNT OP OVERNIGHT RPS AT T H R I F T I N S T I T U T I O N S .
TERM EURODOLLARS ARE THOSE WITH ORIGINAL MATURITIES GREATER THAN ONE DAY. C O N S I S T S OF THOSE I S S U E D TO U . S . R 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.
CONSISTS OF U . S . TREASURY B I L L S AND COUPONS WITH REMAINING MATURITIES OF LESS 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 LESS COMMERCIAL PAPER HELD BY MONEY MARKET MUTUAL FUNDSDEBT 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 .
= estimated




H.6 (508)
Table 6

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

foreign
official
institutions

foreign
commercial
banks

Date

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

IRA and Keogh Accounts

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

time
and savings
deposits at
commercial
banks

commercial
banks

thrift
institutions

money
market
mutual funds

total

1985-JAN.
FEB.
MAR.

9.0
8.7
7.8

1.9
2. 1
1.9

9.0
8.8
8.6

3.7
3. 1
3.6

4.0
4.3
3.8

14.9
12.7
9.2

22.5
20. 1
16.6

1.4
1.3
1.2

45.3
47.0
48.8

62. 1
64.0
66.4

7.4
7.7
7.9

114.7
118. 7
123.2

APB.
WAY
JUNE

7.7
8.0
8.0

1.9
2.1
2.0

8.4
8.3
8.3

3.9
3.1
3.4

6.6
6.7
2.8

11.5
17.8
11.4

22.0
27.6
17.7

1. 1
1.2
1.2

53.5
55. 1
55.9

70.4
71.9
73.4

8.6
8.6
8.4

132.5
135.6
137.7

JULY
AUG.
SEPT.

8. 1
7.8
8.1

1.9
2.0
2.1

8.3
7- 1
6.4

3.1
2.8
3.4

4.0
3.0
4.3

20.0
10.6
13.4

27.0
16.4
21. 1

1.2
1.3
1.3

56.7
57.4
57.8

75.3
76.8
78. 1

8.5
8.4
8.3

140.4
142.6
144.3

OCT.
NOV.
DEC.

8.2
8. 1
8.5

1.9
2. 1
1.9

7.9
8.4
8.3

3.0
3.0
3.4

3. 1
2.8
3.4

2.4
4.8
1 1. 1

8.5
10.7
17.9

1.3
1.3
1.4

58.2
58.7
59.2

79.0
79.5
80.9

8.4
8.4
8.4

145.7
146.6
148.4

1986-JAN.

8.8

2.0

8.0

3.6

10.5

20.5

34.5

1.3

60.7

81.9

8 . 5e

151.2B

6
13
20
27

9.9
8.1
8.6
9.4

2. 1
2.0
2.0
1.9

8.2
8. 1
8.0
7.9

3.8
2.9
3.9
3.8

5.5
5.0
10.3
17. 4

2 0. 1
15.0
21.7
23.3

29. 4
23.0
35.9
44.5

1.4
1.3
1.3
1.3

3
10
17
24

7.8
7.9
7.8
9.4

2.2
1.8
1.7
1.8

7.8
7.8
7.8
7.7

3.3
3.4
3.3
3.4

15.6
7.2
5.8
7. 4

23.4
21.0
20.3
21. 1

42.3
31.6
29- 4
31.9

1.4
1.4
1.4
1.4

WEEK
1986
JAN.

FEB.

ENDING:

P
P




#

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#

•

•

•

#

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