Full text of H.6 Money Stock Measures : March 7, 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 7,1996
M11
M22
M33
DEBT5
Seasonally adjusted
1994-FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
1137.0
1141.2
1143.2
1144.4
1146.1
1151.4
1150.0
1150.4
1148.9
1148.7
1148.7
3500.7
3506.5
3513.5
3511.6
3500.6
3508.0
3504.1
3503.8
3503.9
3506.8
3509.4
4243.0
4251.0
4261.4
4260.6
4258.8
4277.8
4276.5
4285.0
4293.8
4304.7
4319.7
5178.3
5186.8
5201.0
5212.0
5205.9
5230.4
5240.3
5243.0
5261.9
5281.4
5303.7
12605.3
12674.7
12737.0
12801.3
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
3515.3
3517.5
3525.1
3537.3
3551.9
3582.6
3601.5
3621.6
3635.0
3642.1
3653.2
3670.2
4343.5
4355.9
4375.9
4399.9
4428.5
4467.0
4495.1
4522.9
4543.6
4558.2
4568.0
4581.4
5331.2
5364.9
5402.2
5437.1
5464.7
5504.0
5553.1
5588.8
5634.7
5661.5
5668.2
5694.8 p
13201.9
13279.8
13342.3
13419.4
13519.6
13578.2
13613.1
13664.9
13704.0
13745.0
13807.8
13841.8
1996-JAN.
1119.0
3684.8
4609.8
Not seasonally adjusted
1994-FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
1124.1
1131.4
1152.5
1132.3
1141.9
1150.6
1143.9
1146.5
1147.8
1155.9
1174.2
3483.3
3501.2
3528.9
3498.4
3498.6
3511.6
3502.9
3498.8
3500.5
3513.5
3529.8
4228.0
4245.1
4271.2
4247.2
4256.5
4276.6
4277.2
4278.4
4292.9
4317.6
4341.5
5169.2
5189.1
5209.9
5193.3
5198.4
5225.1
5237.5
5229.1
5253.5
5296.0
5333.2
12583.3
12643.4
12686.2
12732.4
12788.3
12814.8
12874.8
12945.2
13000.7
13085.0
13145.8
1995-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
1159.0
1134.7
1138.8
1159.8
1133.5
1140.6
1145.2
1138.5
1137.3
1131.0
1136.5
1150.7
3518.4
3499.3
3518.8
3551.8
3538.4
3581.0
3607.0
3622.8
3631.3
3638.1
3658.8
3689.9
4348.1
4338.0
4367.7
4407.4
4414.5
4465.0
4495.7
4526.3
4538.3
4558.1
4580.9
4602.5
5343.9
5354.0
5403.8
5444.8
5446.3
5496.3
5549.3
5589.2
5619.8
5651.0
5681.5
5724.4 p
13178.2
13231.5
13301.9
13358.0
13430.0
13511.2
13555.6
13601.2
13656.9
13703.7
13771.3
13828.6 p
1996-JAN.
1127.9
3686.6
4614.4
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 OCT. 1995 TO JAN. 1996
-4.5
4.7
4.5
4„0
6 Months from JULY 1995 to JAN. 1996
-4.6
4.6
5.1
3.9
12 Months from JAN. 1995 TO JAN. 1996
-2.6
4.8
6.1
5.2
Thirteen weeks ending FEBRUARY 26, 1996
from thirteen weeks ending:
NOV. 27, 1995 (13 weeks previous)
-4.9
4.5
4.8
AUG. 28, 1995 (26 weeks previous)
-4.3
4.6
5.2
FEB. 27, 1995 (52 weeks previous)
-2.5
4.8
6.3
1.
Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, September 1995 to December 1995, June 1995 to December 1995,
and December 1994 to December 1995, 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 retirement 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 investments 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.I. 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 ending
M3
M2
4-week
average
1128.4
1127.7
1126.0
1124.4
week
average
1128.2
1123.7
1122.0
1123.8
13-week
average
3644.8
3647.2
3649.7
3652.5
4-week
average
3655.6
3659.4
3663.0
3666.5
week
average
3661.6
3665.3
3667.5
3671.6
13-week
average
4558.6
4561.0
4563.5
4566.7
4-week
average
4571.5
4574.2
4576.1
4579.0
week
average
4580.9
4575.9
4576.2
4582.8
1995-DEC.
4
11
18
25
13-week
average
1133.0
1131.5
1130.0
1128.9
1996-JAN.
1
8
15
22
29
1128.1
1127.4
1126.6
1125.5
1124.2
1123.5
1123.2
1123.1
1121.5
1119.0
1124.5
1122.3
1121.8
1117.3
1114.7
3655.3
3658.5
3662.9
3666.4
3669.3
3670.1
3674.9
3682.8
3686.3
3687.5
3675.8
3684.5
3699.3
3685.7
3680.4
4569.4
4573.4
4578.8
4582.8
4586.1
4579.9
4588.3
4601.6
4609.1
4613.1
4584.7
4609.4
4629.5
4612.6
4600.8
5
12
19p
26p
1123.3
1122.3
1121.2
1120.2
1118.3
1116.3
1115.5
1116.1
1119.2
1114.1
1114.0
1117.1
3672.3
3675.6
3679.3
3683.3
3688.3
3686.7
3690.5
3697.7
3687.9
3692.8
3701.0
3709.0
4590.4
4596.3
4602.5
4609.6
4615.1
4618.2
4627.3
4643.0
4617.3
4641.9
4649.1
4663.5
FEB.
Not seasonally adjusted
1995-DEC.
4
11
18
25
1134.7
1133.9
1134.0
1136.7
1136.4
1139.2
1140.8
1145.9
1142.8
1147.5
1143.4
1150.0
3644.5
3647.3
3651.1
3657.2
3662.5
3670.1
3676.7
3684.5
3674.5
3691.5
3686.5
3685.4
4561.6
4564.7
4568.8
4575.5
4585.3
4590.3
4594.4
4598.9
4597.5
4604.5
4597.8
4595.6
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
1164.1
1163.5
1142.6
1114.9
1090.3
3663.4
3668.3
3673.2
3677.0
3678.8
3690.6
3697.3
3704.8
3702.5
3688.4
3698.9
3718.3
3716.4
3676.2
3642.5
4581.7
4587.0
4593.0
4597.2
4599.5
4601.3
4609.4
4622.7
4625.6
4616.9
4607.3
4636.9
4650.9
4607.2
4572.5
5
12
19P
26p
1136.6
1134.1
1131.3
1128.5
1115.4
1105.8
1102.1
1102.7
1113.7
1104.3
1100.2
1092.6
3680.0
3681.5
3683.1
3684.8
3677.4
3668.4
3669.6
3678.1
3674.3
3680.5
3681.0
3676.6
4601.4
4605.1
4608.7
4613.0
4608.7
4604.1
4609.5
4624.6
4604.1
4632.4
4628.9
4632.9
FEB.
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
e
Nontransactions components
At commercial
banks4
At thrift
institutions5
Total
lnM2 6
In M3 only7
347.4
8.4
385.8
299.3
109.5
408.8
2353.4
781.2
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.
357.6
359.0
362.3
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
2366.2
2369.7
2376.4
828.2
838.4
850.8
APR.
MAY
JUNE
365.0
367.6
367.0
9.0
9.1
9.0
382.1
382.1
386.5
290.9
283.5
277.0
104.2
103.9
105.0
395.1
387.4
382.0
2386.1
2405.8
2438.1
862.6
876.6
884.4
JULY
AUG.
SEP.
367.3
368.5
369.5
8.9
8.9
8.8
388.5
389.3
389.4
276.2
272.0
266.4
104.6
105.1
106.0
380.8
377.2
372.4
2456.1
2477.8
2494.8
893.6
901.3
908.6
OCT.
NOV.
DEC.
370.8
371.6
373.2
8.8
8.9
8.9
388.1
388.2
389.8
258.1
254.1
245.6
105.9
106.3
107.4
364.1
360.3
353.0
2510.3
2524.2
2545.4
916.1
914.8
911.2
1996-JAN.
373.6
8.9
393.5
236.5
106.5
343.0
2565.8
925.0
73.6
73.6
74.3
73.2
73.6
8.9
8.9
8.9
8.9
8.9
390.8
393.6
395.8
392.6
392.7
243.5
238.4
234.9
236.1
235.3
107.8
107.7
107.9
106.5
104.2
351.2
346.1
342.8
342.6
339.4
2551.3
2562.3
2577.4
2568.4
2565.7
908.9
924.9
930.2
926.9
920.4
72.9
72.6
73.0
74.1
8.9
8.9 e
8.9 e
8.9 e
397.1
395.4
398.1
396.2
232.4
230.1
227.3
231.4
107.9
107.0
106.7
106.5
340.3
337.1
334.0
337.9
2568.7
2578.7
2587.0
2591.8
929.4
949.1
948.0
954.6
FEB.
4.
5.
6.
7.
Demand deposits3
1994-SEP.
Week e n d i n g
1996-JAN.
1
8
15
22
29
1.
2.
3.
Travelers checks2
5
12
19p
26p
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.
estimated
p
preliminary
Page 5
ri.6(508)
Table 4 - continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Small-denomination time deposits 2
Savings deposits1
At
thrift
institutions
Total
At
commercial
banks
At
thrift
institutions
1994-SEP.
772.1
416.2
1188.3
481.5
307.8
789.3
375.8
177.2
OCT.
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
1996-JAN.
793.2
358.6
780.8
792.3
799.7
795.3
793.1
798.8
803.8
808.4
804.1
Week e n d i n g
1996-JAN.
1
8
15
22
29
FEB.
3.
4.
5.
6.
Institutional
money4
funds
At
commercial
banks
Date
1.
2.
Retail
money
funds*
5
12
19p
26p
Large-denomination time deposits 5
ft
At
thrift
institutions
287.5
63.1
350.6
182.0
182.9
183.7
290.5
294.5
298.7
63.9
64.3
64.8
354.5
358.8
363.5
392.4
394.2
396.2
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
401.5
410.1
427.4
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
923.8
927.0
440.4
452.4
459.4
218.6
218.5
221.7
321.3
323.5
326.9
72.7
73.4
73.8
394.0
396.8
400.7
573.2
575.4
576.2
356.6
358.4
359.5
929.9
933.9
935.7
464.3
469.7
475.1
223.6
224.0
226.4
335.8
341.4
343.5
74.5
74.8
75.1
410.3
416.3
418.6
1151.8
578.4
356.6
935.0
478.9
229.7
344.8
76.1
420.9
358.2
358.3
358.7
359.4
359.6
1139.0
1150.6
1158.4
1154.7
1152.8
577.1
576.8
578.7
579.0
579.1
358.5
358.8
356.5
355.7
355.5
935.5
935.5
935.3
934.7
934.6
476.8
476.2
483.7
478.9
478.3
227.8
230.8
231.8
229.9
227.4
342.1
344.1
346.5
344.5
344.4
75.7
76.2
76.1
76.0
76.2
417.9
420.3
422.5
420.5
420.7
359.8
359.8
360.5
361.1
1158.6
1163.6
1168.9
1165.2
578.6
578.0
577.2
576.3
356.2
356.4
356.4
356.5
934.9
934.3
933.6
932.8
475.2
480.8
484.5
493.9
227.2
242.8
244.2
251.3
349.4
351.9
351.9
354.2
76.6
76.3
76.1
76.1
426.0
428.3
428.0
430.3
Total
commercial
banks6
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.
p preliminary
Page 6
H.6(508)
Table 4 - continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Date
1
RPs
Non-M3 Components of L
2
Eurodollars
T7T73—
7TT3
179.0
Short-term
Treasury
securities3
373.7
OCT,
NOV.
DEC.
172.4
174.4
180.8
81.0
81.7
82.3
179.4
179.8
180.3
1995-JAN.
FEB.
MAR.
187.4
191.9
191.1
87.3
86.4
87.2
APR.
MAY
JUNE
192.1
197.2
191.7
JULY
AUG.
SEP.
Savings bonds
1994-SEP.
Bankers
acceptances4
Commercial paper5
Debt components6
Federal debt
Non-Federal debt
TT77
390.7
3455.3
9531.2
375.6
380.8
387.3
13.5
13.7
14.2
399.6
402.4
402.4
3470.6
3494.7
3497.6
9566.2
9616.5
9655.6
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
9697.5
9744.6
9785.9
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
9860.8
9942.7
9975.6
188.4
192.9
192.5
92.6
93.1
93.7
183.0
183.5
183.9
434.0
436.6
455.7
12.1
12.4
12.8
429.0
433.3
438.6
3615.5
3621.4
3623.8
9997.6
10043.5
10080.2
OCT.
NOV.
DEC.
189.9
185.2
177.3
92.2
89.3
88.9
184.2
184.5
184.8
464.9
465.9
479.6
13.4
12.6
11.9 p '
1996-JAN.
182.0
92.3
173.5
183.2
183.9
182.7
179.2
89.7
90.7
92.0
93.8
93.2
183.5
184.9
182.3
179.6
92.7
93.1
93.6
93.4
Week ending
1996-JAN.
1
8
15
22
29
FEB.
5
12
19p
26p
p
p
440.7
437.3
437.1 p
3632.6
3645.8
3638.4 p
10112.3
10162.1
10203.4 p
1. Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
2. 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.
4. Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds.
5. Total 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
preliminary
Page 7
H.6(508)
Table 5
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Currency1
Date
e
Nontransactions components
Other checkable deposits
At commercial
banks4
At thrift
institutions5
Total
lnM2 6
In M3 only7
347.0
8.8
384.4
297.2
109.0
406.3
2352.4
779.6
OCT.
NOV.
DEC.
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
105.1
102.6
103.9
406.4
394.9
395.1
2359.4
2364.6
2380.1
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
2392.0
2405.0
2440.4
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
272.7
268.7
264.7
105.1
104.4 *
105.6
377.8
373.1
370.3
2461.8
2484.3
2494.0
888.8
903.5
907.0
OCT.
NOV.
DEC.
370.0
371.7
376.1
8.9
8.7
8.5
391.1
395.8
408.0
255.6
253.9
249.7
105.4
106.4
108.4
361.0
360.3
358.0
2507.0
2522.3
2539.2
920.0
922.1
912.6
1996-JAN.
371.6
8.5
399.0
242.3
106.4
348.7
2558.7
927.8
376.1
374.7
373.2
370.7
368.6
8.6
8.5
8.5
8.5
8.5
422.6
417.0
408.1
390.4
379.6
248.8
251.7
244.0
240.5
232.6
108.1
111.6
108.9
104.8
100.9
356.9
363.3
352.8
345.3
333.6
2534.8
2554.8
2573.8
2561.4
2552.2
908.5
918.6
934.6
931.0
930.0
370.2
371.4
371.2
370.1
8.5
8.5
8.5
8.5
392.4
387.0
390.0
382.4
235.4
231.5
226.3
228.7
107.3
106.0
104.2
102.9
342.7
337.5
330.5
331.6
2560.6
2576.2
2580.8
2584.0
929.8
952.0
947.9
956.4
FEB.
4.
5.
6.
7.
Demand
deposits 3
1994-SEP.
Week ending
1996-JAN. 1
8
15
22
29
1.
2.
3.
Travelers
checks 2
5
12
19p
26p
e
e
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-denomhation time deposits2
Savings deposits1
commercial
banks
At
thrift
institutions
Total
1190.1
481.9
308.0
790.0
372.3
174.2
411.8
405.5
396.9
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
740.2
730.3
723.9
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
APR.
MAY
JUNE
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.
789.5
356.9
Date
At
commercial
banks
At
thrift
institutions
4-SEP.
773.3
416.8
OCT.
NOV.
DEC.
766.0
761.9
751.6
1995-JAN.
FEB.
MAR.
19
3.
4.
5.
6.
Total
— S t —
Large-denomination time deposits5
At
commercial
banks6
Jx
288.2
thrift
institutions
63.3
351.5
180.0
184.7
185.5
292.2
296.7
298.5
64.3
64.7
64.8
356.5
361.4
363.2
393.8
397.3
400.7
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
405.6
408.8
424.6
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
354.8
355.4
923.0
925.9
927.4
439.6
453.2
455.6
215.9
218.4
218.1
319.9
324.4
327.7
72.4
73.6
74.0
392.3
397.9
401.7
572.6
572.6
572.3
356.2
356.7
357.1
928.8
929.3
929.4
459.9
467.8
475.3
221.8
226.3
228.6
338.1
344.3
343.4
75.0
75.5
75.1
413.2
419.8
418.5
1146.4
576.1
355.2
931.3
481.0
237.3
342.0
75.5
417.5
Total
1996-JAN.
1
8
15
22
29
777.0
792.8
798.1
789.0
783.0
356,
358.
358.
356.
355.
1133
1151
1156
1145
1138
573.7
574.0
576.3
576.8
577.1
356.3
357.1
355.0
354.4
354.3
930.0
931.1
931.3
931.1
931.4
471.4
472.3
486.4
484.7
482.8
230.0
230.3
240.4
239.6
240.5
339.2
340.6
344.0
341.9
341.5
75,
75,
75.
75.
75,
414
416
419,
417,
417,
FEB.
5
12
792,
800,
803,
797,
357,
358.
358.
358.
1149.5
1158.8
1161.8
1155.1
577.2
576.8
576.2
575.4
355.4
355.7
355.8
356.0
932.6
932.5
932.0
931.4
478.5
484.9
487.1
497.4
235.6
250.5
248.6
256.5
346.4
350.8
350.7
352.8
75,
76,
75.
75.8
422,
426,
426,
428,
26p
1.
2.
Institutional
money4
funds
Retail
money
funds3
Savings deposits include money market deposit accounts.
Small-denomination time deposits—including retail RPs—are those issued in amounts of Sess 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.
p
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
At commercial
banks
At thrift
institutions
Debt components 6
Non-M3 Components of L
Eurodollars2
Savings bonds
Total
Short-term
Treasury
securities 3
Bankers
acceptances 4
Commercial
paper6
Federal debt
Non-Federal
debt
1994-SEP.
139.6
35.2
174.7
79.1
178.4
366.3
14.4
391.5
3438.3
9507.0
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
9679.3
9706.5
9750.7
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
9813.9
9877.4
9931.9
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
434.8
439.3
446.1
11.6
11.9
12.6
424.4
428.7
439.4
3588.8
3602.2
3606.8
9966.8
9999.1
10050.1
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
449.5
463.5
487.0
13.2
12.5
12.1
446.4
440.3
438.1
3610.1
3635.9
3639.8
10093.6
10135.4
10188.8
1996-JAN.
136.1
44.7
180.8
92.2
129.1
137.5
137.9
136.2
133.8
43.8
43.9
44.8
44.9
45.1
172.9
181.4
182.8
181.1
178.9
91.3
90.9
91.8
93.0
93.5
135.5
137.7
134.2
131.7
44.9
44.9
45.3
45.4
180.5
182.6
179.5
177.1
91.4
92.0
93.3
94.1
Week e n d i n g
1996-JAN.
1
8
15
22
29
FEB.
5
12
26p
p
p
p
p
p
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
4.
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
28.8
2.5
142.7
108.7
56.8
308.1
12.1
9.8
13.4
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
7.0
5.9
5.2
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
59.7
59.9
60.1
310.9
312.4
313.5
5.5
3.1
4.5
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
60.3
60.5 e
60.6 e
314.5
315.0 e
316.1 e
14.7
13.5
12.4
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
2.8
2.7
148.9
149.1
149.4
107.7 e
107.5 e
108.0 e
60.7 e
60.7 e
60.7 e
317.3 e
317.4 e
318.2 e
1.5
1.6
1.5
11.9
12.0
11.9
3.1
2.9
6.0
5.3
5.4
6.5
11.4
8.2
14.6
19.8
16.5
27.1
2.6
1.4
1.0
150.0
151.2
152.1
108.5 e
108.3 e
108.2 e
60.7 e
60.7 e
60.8 e
319.2 e
320.2 e
321.1 e
8.0
1.4
12.0
4.3
6.2
15.9
26.5
1.1
152.7
108.1 e
60.9 e
321.7 e
8.5
7.8
8.2
7.8
7.8
1.5
1.4
1.7
1.4
1.3
11.9
12.0
12.0
12.0
12.0
5.6
4.2
3.9
6.3
3.0
6.1
5.6
5.4
7.2
6.6
16.6
8.3
8.6
16.7
29.2
28.2
18.1
17.9
30.1
38.8
1.0
1.0
1.0
1.1
1.1
8.2
7.6
7.9
8.0
1.5
1.3
1.5
1.5
11.9
11.9
11.9
11.9
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
1.2
1.2
1.3
1.1
Balance
at
Federal
Reserve
14.6
5.8
6.0
16.9
1.6
1.8
1.6
14.8
14.6
14.4
4.3
3.9
5.7
5.6
5.2
6.2
8.4
8.0
8.1
1.6
1.6
1.6
14.0
13.3
12.7
4.8
3.3
3.4
APR.
MAY
JUNE
7.7
8.2
8.2
1.6
1.5
1.5
12.8
13.8
14.8
JULY
AUG.
SEP.
8.5
7.5
7.5
1.5
1.4
1.6
OCT.
NOV.
DEC.
8.2
8.0
7.9
1996-JAN.
commercial
banks
Foreign
official
institutions
1994-SEP.
8.1
1.5
OCT.
NOV.
DEC.
8.0
8.4
8.7
1995-JAN.
FEB.
MAR.
Foreign
Weefr e y n U q q
1996-JAN.
1
8
15
22
29
FEB.
estimated
preliminary
5
12
19P
26p
IRA and Keogh Accounts
Time and
savings
deposits at
commerc.al
Demand
deposits at
commercial
banks
Date
e
p
Time and
savings
deposits
due to
foreign
banks and
official
institutions
Note
balances at
depository
institutions
Total
cash
balance
banks
At
.
ton?
institutions
A}
market
func|s
Total
Board of Governors of the
Federal Reserve System
Washington, DC 20551-0001
OFFICIAL BUSINESS
First Class
@FedFRASER