Full text of H.6 Money Stock Measures : May 11, 2000

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

MONEY STOCK AND DEBT MEASURES

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

Billions of dollars

May 11, 20 00

M 11

Date

M22

M33

DEBT4

Seasonally adjusted
1 9 9 8 -May
Juno
July
Aug.
Sep.
Oct.
Nov.
Dec.

1076.5
1077.9
1076.9
1073.1
1078.2
1084.7
1093.7
1097.4

4175. 0
4200.3
4218.9
4243. 0
4285.8
4327.3
4364.3
4397 .0

5638.3
5682.6
5703.6
5762.2
5824 .4
5887 .8
5 94 5 . 2
5 99 6 . 9

1 56 4 1 . 4
15726.8
15813.1
1 58 9 5 . 7
15972.9
16057.2
16150.1
16229.8

1999-J a n .
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1096.0
1094. 3
1101.4
1 107. 2
1 101. 8
1100.2
1 099. 6
1098. 7
1096.0
1101.1
1109.4
1123.8

4422.4
4447.7
4463.4
4490. 4
4513.1
4531. 0
4552.7
4569. 9
4589 . 1
4605.3
4624.2
4652. 2

6028 .7
6078.0
6087. 8
6123.7
6156.3
6187.3
6210.8
6228 . 4
6254.6
6302.9
6379. 3
6469.3

1 63 1 5 . 4
16406.1
16522.9
16626.3
16699.3
16777.3
16858.5
16956.1
17059.3
17147.6
17215.0
17314.2

2000-Jan.
Feb.
Mar.
Apr.

1121.1
1105. 7
1111.5
1115. 4

4675. 7
4684. 9
4719. 8
4 759. 3

6513. 2
6529.4
6596.4
6631. 2

17404.5
17476.2
17581.5 p

p

Not seasonally adjusted
199 8 -May
June
J uly
Aug.
Sep.
Oct.
Nov.
Dec.

1070 . 9
1075. 3
1074.4
1069. 5
1070. 9
1077. 6
1098.2
1121. 3

4154. 2
4187.3
4208 . 1
4237.8
4272.8
4311.6
4367. 6
4422. 2

5622 . 0
5666 . 3
5678.9
5747 .4
5801.8
5869.9
5955.4
6026.5

15599 . 5
15682.9
15753.1
15837.1
1 59 2 0 . 4
1 60 0 4 . 4
16123.8
16226 .7

1999-J a n .
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1104.0
1085.2
1097.4
1113.5
1096.4
1098.3
1097.7
1093.5
1087.1
1095.1
1112.8
1148.3

4433.0
4 443. 0
4481. 3
4528 . 3
4489.0
4 515. 3
4538.6
4560.1
4572.7
4590. 5
4 626. 6
4 680. 5

6043 . 2
6091. 3
6115.7
6160.0
6137 .4
6167. 7
6177.8
6206. 5
6224.9
6282.4
6390 . 8
6504. 4

16 2 9 6 . 9
16 3 7 1 . 6
16502 . 6
16597.1
1 6 6 50 . 8
1 6 7 27 . 2
16795.2
1 6 8 97 . 7
170 07 . 7
1 70 9 5 . 5
17191.2
17312.6

2000-Jan.
Feb.
Mar.
Apr.

1127.8
1097.2
1108.3
1124.1

4686.2
4683.0
4740.6
4 804. 7

6529.6
6548.8
6629. 7
6675.1

17390.6
17 4 4 9 . 2
17564.4 p

p

Footnotes appear on the following page
p preliminary
Components may not add to totals due to rounding.



Page 2
H.6 (508)
Table 2

MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates
M2

M3

DEBT1

3 Months from Jan.

2000 TO Apr.

2000

-2.0

7.2

7.2

6.2

6 Months from Oct.

1999 TO Apr.

2000

2.6

6. 7

10.4

6 .1

12 Months from Apr.

19 9 9 TO Apr.

2000

0.7

6.0

8.3

6.4

-2.7

6.1

8.1

Thi rteen weeks ending May 1 , 2000
from t hi rt een weeks endi ng:
Jan. 31, 2000 (13 weeks previ ous)

1.

M1

Nov.

1,

1999

(26 weeks previ ous)

2.2

5. 8

10.3

May

3,

1999

(52 weeks previ ous)

0.8

5. 7

8.0

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, December 1999 to March 2000, September 1999 to March 2000,
and March 1999 to March 2000, respectively.

Footnotes to Table 1:
1.

2.

3.

4.

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) dem and
deposits at all com m ercial 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 R eserve float; and (4) other checkable deposits (O C D s), consisting of negotiable order of withdrawal (N O W ) and autom atic transfer service
(ATS) accounts at depository institutions, credit union share draft accounts and dem and deposits at thrift institutions. Seasonally adjusted M1 is calculated by summing
currency, travelers checks, dem and deposits, and O C D s, each seasonally adjusted separately.
Consists of M1 plus savings deposits (including m oney market deposit accounts), small-denomination time deposits (time deposits— including retail RPs— in am ounts of less
than $ 1 0 0 ,0 0 0 ), and balances in retail m oney market mutual funds. Excludes individual retirement account (IRA) and Keogh balances at depository institutions and money
market funds. Seasonally adjusted M 2 is computed by summing savings deposits, small-denomination time deposits, and retail money fund balances, each seasonally
adjusted separately, and adding this result to seasonally adjusted M 1 .
Consists of M 2 plus large-denom ination time deposits (in am ounts of $ 1 0 0 ,0 0 0 or more), balances in institutional m oney funds, 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 C anada. Excludes am ounts held by depository institutions, the U.S. government, money funds, and foreign banks and official institutions. S easonally adjusted
M 3 is calculated by summing large tim e deposits, institutional m oney fund balances, RP liabilities, and Eurodollars, each seasonally adjusted separately, and adding this
result to seasonally adjusted M 2.
Debt: The debt aggregate is the outstanding credit market debt of the dom estic nonfinancial sectors — the federal sector (U.S. government, not including governm entsponsored 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 farm s). Nonfederal debt consists of mortgages, tax-exem pt and corporate bonds, consum er credit, bank loans,
commercial paper, and other loans. T h e 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 sm oothed into the series) and m onth-averaged (that is, the data have been derived by averaging adjacent month-end levels). T he 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 m arket debt are m easured on a quarter-end basis and contain discontinuities.
Note: Current and historical H .6 data are available each w eek on the Federal Reserve Board's web site (http://w w w .federalreserve.gov/). Monthly data are available back to
January 1959, and w eekly data are available back to January 1975 for most series. For information about individual copies or subscriptions, contact Publications Services
at the Federal Reserve Board (phone 2 0 2 -4 5 2 -3 2 4 5 , fax 2 0 2 -7 2 8 -5 8 8 6 ). For paid electronic access to current and historical data, call S T A T -U S A at 1 -8 0 0 -7 8 2 -8 8 7 2 or
2 0 2 -4 8 2 -1 9 8 6 .


http://fraser.stlouisfed.org/
•
•
Federal Reserve
Bank of St. Louis

•

•

•

•

•

•

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•

•

•

•

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*
Page 3

H.6 (508)
Table 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjusted
M1
Period ending

M3

M2

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

2000-Feb.

7
14
21
28

1118.3
1117.8
1117.3
1117.1

1 11 5 . 6
111 1 . 2
1 10 7 . 6
110 5 . 6

110 6 . 8
1 10 2 . 3
1106.1
1107.1

4657.2
4661.7
4665. 8
4669. 9

4681.9
4683. 3
4683. 4
4684 .0

4690.5
4679.4
4683 . 9
4682.0

6468.8
6 479. 5
6 490. 6
6501.5

6 518. 5
6521.7
6 526. 3
6527.5

6524.6
6520.5
6535. 7
6 529. 0

Mar .

6
13
20
27

1116.8
1 116. 0
1115. 3
1113. 6

110 5 . 8
1 1 0 5. 3
1106.8
1 10 8 . 5

110 7 . 7
1100.1
1 11 2 . 2
1 11 3 . 9

4674. 7
4679. 6
4685. 3
4690.7

4685.6
4693.0
4 704. 9
4 716. 9

4697.1
4708.8
4731.8
4730.0

6514.7
6526.7
6535.8
6543. 4

6539.1
6560.5
6575.9
6594.7

6571.0
6606.2
6 597. 5
6604.2

Apr.

3
10
17
24p

1112.2
1111.1
1110.5
1110.9

1114.1
1114.8
1114.8
1117.6

1130.3
1 10 2 . 7
1112.2
1125.3

4 696. 0
4 701. 9
4708.7
4715.7

4726.7
4736.5
4744 .2
4755.3

4736.2
4747.9
4762.5
4774.5

6549.4
6558.8
6568.6
6578.1

6603 * 1
6607.1
6616.4
6625.6

6604.5
6622.1
6634.6
6641.1

IP

1 110. 7

1113. 1

1112.2

4721.8

4760 . 9

4758.5

6586.6

6633.1

6634.7

May

Not seasonally adjusted
2000-Feb.

7
14
21
28

1129. 7
1128. 4
1127.1
1125 .2

1111.1
1 10 2 . 9
1 0 9 8. 7
1 09 6 . 5

109 8 . 2
1 0 9 1. 3
1 09 5. 3
1101.1

4670. 8
4674. 7
4 678. 9
4682. 7

4678.2
4673.8
4676. 7
4682. 4

4696.7
4684 .1
4676.6
4672.0

6491.2
6502.8
6514.5
6525.4

6527.0
6528.3
6538.2
6547.4

6 547. 5
6 550. 8
6548.4
6 542. 9

Mar.

6
13
20
27

1 12 4. 1
1 122. 0
1119.0
1114.2

1098 .2
1 09 9. 4
1102.2
1 10 4 . 5

1 10 5. 2
1 09 5. 8
1 10 6. 8
1 11 0. 3

4687.3
4692.4
4697.3
4701.1

4690.0
4703.5
4 721. 6
4 736. 5

4727.3
4738 .1
4749.1
4731.3

6538.2
6550.1
6559.0
6566.3

6564. 4
6590. 4
6610.6
6629.6

6615. 6
6654.5
6629. 4
6 619. 0

Apr.

3
10
17
24p

1109.8
1108.2
1108.4
1109.5

1113.6
1118.3
1123.3
1127.6

1141. 5
1114.6
1126.6
1127.6

4706.8
4715.9
4726.6
4736.9

4 750. 7
4773.9
4797.0
4813.8

4784.4
4830.6
4841.7
4798.3

6573.6
6586.3
6599.1
6610.8

6637.0
6650.5
6671.2
6681.6

6645.2
6708.3
6712.1
6660.6

IP

1109.9

1120.7

1114. 1

4 743. 5

4801.5

4735.3

6618.8

6672.9

6610.7

May

Note: Special caution should be taken in interpreting w eek-to-w eek changes in money supply data, which are highly volatile and subject to revision.
p
preliminary data.
Com ponents may not add to totals due to rounding.




Page 4
H.6 (508)
Table 4

SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars
Other checkable deposits

105.2

250.3

00 00
00

<N

374 .0
3 71 . 3
3 71 . 9

147.0
142.8
144.2

1 03 . 9
1 04 . 6
1 05 . 5

250.8
247.5
249.7

371.6
366 .1
360 .8

146.1
142.2
142.0

105.8
1 05.2
105.1

251.8
247.4
247.2

360 .2
356 .6
351.1

138.0
136.9
136.5

104.9
105.1
104.4

242.9
242.0
240.8

353 .1
355 .7
355 .9

136.4
1 37 . 6
1 41 . 3

103.9
103.6
1 02 . 7

240 .3
241.2
244.0

8.1
8.2

345 .5
338 .3
343 .0

141.6
137.3
136.7

101.6
103.8
106.7

243.2
241.1
243.4

475 .6
480.0
483 .5

July
Aug.
Sep.

487 .3
491.2
495 .3

9.1
8.9

Oct.
Nov.
Dec.

499 . 3
504 .3
5 15.6

8.4
8.2
8.3

20 0 0-Jan.
Feb.
Mar.

524 .3
518.2
517.0

xj
to

8.2

341.3

139 . 9

108.2

248.0

6
13
20
27

516.6
516.6
516.9
517 .4

8.1
8.2

339 .8
335.6
344 .5
344 .4

135.9
133.6
136 . 2
137 . 6

107.4
106.1
106.4
106.3

243 .2
239.8
242.6
243.9

3
10
17
24p

517.5
517.7
517.9
518.5

353 .7
331.2
340 .2
347 .0

142. 5
136 . 4
138.5
143.6

108.3
109.3
107.4
108.1

250 .8
245 .7
245.8
251.7

lp

5 17.8

339 .7

139.0

107.7

246.7

to to

517.9

00 00

p

00

Total

00

00

8.3
8.8

8.3
8.2
H*

CN

00

May

to

Apr.
May
June

00

463 .0
467 .4
4 71.5

00

145.1

00

CN

379 .3

1999-Jan.
Feb.
Mar.

Apr.

4.
5.

At thrift
institutions5

459 .5

Week endina
2000-Mar.

Demand deposits3
At commercial banks4

1998-Dec.

Apr.

1.
2.
3.

Travelers checks2

►
» to

Currency1

Date

Currency outside U .S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding am ount of U .S . dollar-denom inated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in dem and deposits.
Dem and deposits at com m ercial banks and foreign-related institutions other than those due to depository institutions, the U.S. governm ent and foreign banks and official
institutions, less cash items in the process of collection and Federal R eserve float.
Consists of N O W and A T S balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of N O W and A T S balances at thrifts, credit union share draft balances, and dem and deposits at thrifts.

e
estimated
p
preliminary
Components may not add to totals due to rounding.




*

*
Page 5

H.6 (508)
Table 5

SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars
Small-denomination time deposits2

Savings deposits1
Date

At commercial
banks

Total

At commercial
banks

At thrift
institutions

Total

Retail
money
funds

Total
Non-M1 M2

1998-Dec.

1184.8

413.8

1 59 8. 6

626.1

325.6

951.7

749.4

3 29 9. 6

1999-Jan.
Feb.
Mar.

1198. 6
1212.6
1217 .3

419.2
426 .0
429 .9

1 617. 7
1638 . 6
1 64 7. 2

622.6
618.6
616.9

324 .3
322.5
320.4

947 .0
941.1
937.3

761.7
773.7
777.6

3326.4
3353.4
3362.0

Apr.
May
June

1230.9
1242.4
1252.2

431.5
442.0
447 .7

1 66 2. 4
1 68 4. 3
1699.9

616.0
616.2
616.5

319.3
317.7
315.0

935 .2
933.9
931.5

785.6
793 .0
799 .4

3383.1
3411.3
3430.8

July
Aug.
Sep.

1 264. 3
1274.1
1285.8

453 .7
455 .6
455 .7

1 71 8 . 0
1 72 9 . 7
1 74 1 . 5

617.4
619.0
622.1

314.2
314.6
315.6

931.6
933 . 5
937 .7

803.5
808 . 1
813 . 9

3453.1
3471.3
3493.1

Oct.
Nov.
Dec.

1289.8
1289.1
1285.8

453 .4
451.7
448.7

1743.2
1 74 0 . 9
1 73 4 . 5

625.5
630.2
634 .5

316.7
318.9
320.6

942.2
949.0
955 .0

818.7
825 .0
838.9

3504.1
3514.9
3528.4

2000-Jan.
Feb.
Mar.

1288.3
1301.8
1308.6

447 . 3
449.8
452 .7

1735.6
1 7 5 1. 7
1 7 6 1. 3

638 .5
643 . 6
648.7

322.8
323 .2
323 .9

961.3
966.8
972.5

857 .7
860.6
874.5

3554.6
3579.1
3608.3

1324 .8

449.7

1 7 7 4. 4

657.9

323 . 3

981.2

888.3

3643.9

6
13
20
27

1 311. 9
1315 .4
1312.6
1 305. 5

449 .3
450.8
453 .9
456 .9

1 76 1 . 2
1 76 6 . 2
1 76 6 . 5
1 76 2 . 3

646.6
648 .0
649.3
649.5

323
323
323
324

.3
.3
.9
.6

969 . 9
9 71.2
973.2
974 . 1

858 .2
871.2
879.8
879.6

3589.3
3608.7
3619.6
3616.1

3
10
17
24p

1294 .2
1326.6
1331.2
1328 . 9

450.3
448 . 9
448 .4
449 .1

1 74 4 . 5
1 77 5 . 5
1 77 9 . 6
1 77 8. 0

652.4
656 .3
657 .7
658 .9

322.9
322 .3
323 .0
323 .8

975.3
978 . 5
980.7
982 .7

886.1
891.2
890.0
888 .4

3605.9
3645.2
3650.3
3649.1

IP

1324.2

453 . 8

1778 . 0

660.2

324.4

984 .6

883.6

3646.2

Apr. P
Week endina
2000-Mar.

Apr.

May

1.
2.

At thrift
institutions

Savings deposits include m oney m arket deposit accounts.
Small-denom ination tim e deposits— including retail RPs— are those issued in amounts of less than $1 00 ,0 00 . All IRA and Keogh account balances at com m ercial banks and
thrifts are subtracted from small time deposits.

p preliminary
Components may not add to totals due to rounding.



Page 6

H.6 (508)
Table 6

SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3 AND DEBT
Billions of dollars
Institutional
money funds

Date

At thrift
institutions

Total

Total
Non-M2 M3

Federal

Non-Federal

539 .3

88.9

628.1

300.8

152.6

1599. 9

3750.8

12479.1

1999-J a n .
Feb.
Mar.

523 .3
533 .2
535 .9

541.4
537.8
534 .5

90 . 3
90.0
89.6

63 1 . 7
627 .8
624 .1

3 00 . 6
315.1
305 .7

150.7
154.1
158.7

1606.4
1630. 3
1624.3

3742.7
3723.7
3723.9

12572.7
12682.4
1 27 99. 0

Apr.
May
June

544.4
550 . 1
553 .9

537.1
537.2
535.9

89.4
88.6
8 8. 9

626.5
625.8
624 .8

300.9
305.0
312.8

161.5
162.3
164.8

1633.4
1643.2
1656.3

3718.6
3702.8
3703.6

12907.8
12996.5
13073.6

July
Aug.
Sep.

556 . 1
563 .8
566 .9

537 .6
533.8
539.8

88.7
89.5
89.5

626.3
623.3
629.3

312.7
313.3
313.5

1 63.0
1 58.0
155.8

1658.1
1658.5
1665.5

3708.0
3711.0
3698.1

13150.6
13245.1
1 3361. 2

Oct.
Nov.
Dec.

5 77.7
592 . 1
607 .4

562.4
587.1
610.5

89. 5
91.0
91.4

651.9
678.0
701.9

31 3 . 4
321.5
334 .7

154 .7
163 .4
173.1

1697.7
1755.0
1817.1

3680.2
3656.9
3659.5

13467. 3
13558.1
13654. 7

2000-Jan.
Feb.
Mar.

623 . 5
617.5
640.7

614 . 8
617 . 8
620.8

94 .4
95.1
9 5. 3

709.2
712.9
716.1

329 . 0
342.0
337.7

175.8
172.1
182.2

1 837. 5
1844.5
1876.6

3646.2
3609.5
3618.8 p

13758.3
13866.7
1 39 62. 7 p

p

640.0

630.7

9 4. 8

725.5

3 32.1

174.3

1871.9

6
13
20
27

631.4
645 . 2
639 .6
643 . 1

618.9
621.9
619.6
619 . 3

95.0
9 5. 2
95.4
95.3

713.9
717.1
715.0
714.5

344.5
347 . 6
33 0 . 7
336 .2

184 .2
187 . 5
180 . 3
180.4

1873. 9
1897. 4
1865. 7
1874. 2

3
10
17
24p

644 .7
639.2
643.2
637 .7

627.3
633.7
630 .6
628.3

95.3
95.1
95.2
94.7

722.6
728.8
725.8
723.0

324 .7
33 1 . 4
331.0
332 .7

176.4
174 . 8
172.0
173 . 3

1868. 3
1874.2
1872.1
1866. 7

Ip

637 .5

631.4

93.8

7 25.2

337.1

176.5

1876.2

Apr.

May

5.

At commercial
banks2

Eurodollars4

5 18 . 4

Week endina
2000-Mar.

3.
4.

Debt components5
RPs3

1998-Dec.

Apr.

1.
2.

Large-denomination time deposits1

Large-denomination tim e deposits are those issued in am ounts of $ 1 0 0 ,0 0 0 or more, excluding those booked at international banking facilities.
Large-denomination tim e deposits at commercial banks less those held by m oney market mutual funds, depository institutions, U.S. government, and foreign banks and
official institutions.
Overnight and term R Ps of $ 1 0 0 ,0 0 0 or more issued by depository institutions, excluding those held by depository institutions and by m oney 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 C anada,
excluding those held by depository institutions and by m oney funds.
Debt data are on a monthly averag e basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities.

p
preliminary
Components may not add to totals due to rounding.




•

•

•

•

•

•

•

•

V

«u

•

•

•

•

•

•

*

•

■
*

•

•

•

r
Page 7

H.6 (508)
Table 7

NOT SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars
Other checkable deposits
Currency1

Date

Travelers checks2

Demand deposits3
At commercial banks4

464 .1

8.4

395.9

1 46 . 3

106.6

252.8

1999-J a n .
Feb.
Mar.

462.4
466.4
471.2

8.3
8.3
8.3

379.2
364.3
367 .2

149.3
142.7
144.8

1 04 . 7
103.5
105.9

254.0
246.1
250.7

Apr.
May
June

4 75.7
479.7
483 . 0

8.3
8.3
8.6

372.1
361.6
359.4

149.0
141.8
142.1

108.4
104.9
105.2

257.4
246.7
247.3

July
Aug.
Sep.

487.7
490.2
493 .3

r*»
00
8.6
8.5

360.1
355.2
347.0

136.7
135.5
135.2

104.5
103.9
103.0

241.2
239.4
238.2

Oct.
Nov.
Dec.

498.4
505.2
521.3

8.4
8.3
8.4

350.4
359.0
371. 9

135.0
137.0
142 . 4

102.9
103.4
1 04.3

237.8
240.4
246.7

2000-Jan.
Feb.
Mar.

523 . 0
517.3
517.1

8.4
8.3
8.3

350.2
331.9
338 .5

143 . 8
137 . 1
137.2

102.5
1 02.7
107.1

246.2
239.7
244 .3

p

518.2

8.3

343.9

142.7

111.0

253.7

6
13
20
27

517.5
517.4
517.2
516.6

8.3
8.3
8.3
8.3

335 .2
330.9
338 .8
339.9

136.0
133.1
136.3
139.2

108.2
106.2
106.2
106.3

244 .2
239.2
242.5
245.5

3
10
17
24p

517.2
5 19.7
518.4
517.8

8.4
8.3
8.3
8.3

359.1
335 .8
346.3
344 . 3

145 . 3
138.5
142.0
147 . 1

111.5
112.2
111.6
110.2

256.8
250.8
253.6
257 .3

lp

516.7

8.3

338.8

140.9

109.5

250.4

Week endina
2000-Mar.

Ap r .

May

4.
5.

Total

1998-Dec.

Apr.

1.
2.
3.

At thrift
institutions5

Currency outside U .S . Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding am ount of U .S . dollar-denom inated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in dem and deposits.
Dem and deposits at com m ercial banks and foreign-related institutions other than those due to depository institutions, the U.S. governm ent and foreign banks and official
institutions, less cash items in the process of collection and Federal Reserve float.
Consists of N O W and A T S balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of N O W and A T S balances at thrifts, credit union share draft balances, and dem and deposits at thrifts.

e estimated
p
preliminary
Components may not add to totals due to rounding.



Page 8
H.6 (508)
Table 8

NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars
Small-denomination time deposits2

Savings deposits1
Date

At commercial
banks

Total

At commercial
banks

At thrift
institutions

Total

Retail
money
funds

Total
Non-M1 M2

1998-Doc.

1186. 0

414.2

1600 .2

626.5

325 .8

952.3

748.3

3300.9

1999-Jan.
Feb.
Mar.

1196. 8
1205. 9
1220. 4

418 . 5
423.6
431.0

1615.3
1629. 5
1651.4

624 .1
620.8
618.5

325 .1
323 .7
321.2

949.2
944 .5
939 .7

764.6
783.9
792.8

3329.0
3357. 9
3383. 9

Apr.
May
June

1244.9
1238.8
1253.4

436 .4
440.7
448.1

1681.2
1679.4
1701.5

616.4
614.4
613.4

319.5
316.8
313.4

935 .9
931.2
926.8

797.6
782.0
788.6

3414. 8
3392.6
3416.9

July
Aug.
Sep.

1265.7
1272.5
1282.0

454 .2
455.1
454 .4

1719.9
1727.6
1736. 4

615.6
617.3
621.5

313.3
313.8
315.3

928.8
931.1
936 .8

792.1
807.9
812.5

3440.9
3466.6
3 485. 6

Oct.
Nov.
Dec.

1285.2
1288 . 8
1288.6

451.7
451.6
449.7

1 737. 0
1 740. 3
1738. 4

626.5
631.7
635.3

317.2
319.7
321.0

943.8
951.4
956.3

814.7
822 . 0
837.5

3 495. 4
3 513. 7
3532.2

2000-Jan.
Feb.
Mar.

1286.5
1 294. 4
1311.3

446.7
447 .3
453 .6

1733.2
1 741. 7
1764.9

6 40.1
646.1
650.7

323 . 6
324 .5
324 .9

963 .7
970.6
975 .5

861.5
873.4
891.9

3558.4
3585. 7
3632.3

1341.1

455 .2

1 796. 3

658.5

323 . 6

982 . 1

902.2

3680.6

6
13
20
27

1321.0
1 324. 8
1314.6
1294 .2

452 .4
454 .0
454 .6
452.9

1773.4
1778 . 8
1769.3
1747.1

6 49.1
650.2
651.2
651.0

324
324
324
325

.5
.4
.9
.3

973 .6
974.6
976 .0
976 .3

875.1
888 .9
897 . 0
897.5

3622.1
3642.3
3 642. 3
3620.9

3
10
17
24p

1 306. 7
1359.7
1362.4
1335.8

454 .7
460.1
459 .0
451.5

1761.4
1819.8
1821.3
1787. 3

654.3
658.0
658.6
658.9

323
323
323
323

.8
.1
.4
.8

978 . 1
981.1
982.0
982.7

903 .5
915.0
911.7
900.7

3 643. 0
3716.0
3715.1
3670. 7

IP

1311.2

449 .3

1760. 4

659 .5

324 . 1

983 .6

877.2

3621.2

Apr. P
Week endina
2000-Mar.

Apr.

May

1.
2.

At thrift
institutions

Savings deposits include m oney market deposit accounts.
Small-denom ination tim e deposits— including retail RPs— are those issued in amounts of less than $1 00 ,0 00 . All IRA and Keogh account balances at comm ercial banks and
thrifts are subtracted from small time deposits.

p preliminary
Components may not add to totals due to rounding.



•

•

•

•

•

•

•

•

•

•
Page 9

H.6 (508)
Table 9

NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3 AND DEBT
Billions of dollars

Institutional
money funds

Date

At commercial
banks2

At thrift
institutions

Total

At commercial
banks

At thrift
institutions

Total
Non-M2 M3

Total

Debt components5
Federal

Non-Federal

537.8

88.6

626 .4

248.6

46.9

295.4

154.5

1604.3

3754. 9

12471.8

1999-Jan.
Feb.
Mar.

534 .8
552.4
544 .1

533 .2
533.9
534 .6

89.0
8 9. 4
89.7

622 .2
623 .3
624 .3

252.9
265.7
252.9

48.0
51.0
54.7

300.9
316.6
307 .6

152.4
155.9
1 58 . 4

1610.2
1648.2
1634.4

3 736. 6
3 721. 8
3 741. 2

1 25 60 . 3
1 2 6 49 . 8
1 27 6 1 . 4

Apr.
May
June

544 .2
545 .3
547.6

536.7
541.0
537.1

89.4
89.2
89.1

626 .1
630 .2
626.2

243.8
250.9
254.0

56.3
58.1
5 9. 9

300.1
309.0
313.9

1 61.3
163.9
164.7

1631.7
1648.4
1652.4

3717.1
3 674. 2
366 2. 8

12 8 8 0 . 0
1 29 7 6 . 6
1 3 0 64 . 4

J uly
Aug.
Sep.

540.5
555 .0
553 .2

538.2
532.4
5 42.1

88.8
89.3
89.9

627.0
621.8
632.0

248.5
249.2
246.8

6 2. 2
6 3. 6
65.8

310.8
312.9
312.6

160.9
156.9
154.3

1639.2
1646.5
1652.2

3 65 2. 2
3 6 6 5. 8
365 5. 8

13143.0
1 3 2 31 . 9
1 33 51 . 9

Oct.
Nov.
Dec.

570.9
595.1
618.9

566.8
5 90.1
608 .6

90.2
91.4
91.1

656 .9
681.5
699 . 8

245.2
259.6
266.5

65.5
64 . 6
63.5

310.7
324 . 1
330.0

153.3
163.6
17 5 . 2

1691.9
1764.3
1823.9

363 5. 5
3 641. 7
3663.1

13459.9
1 3 5 49 . 5
13649.5

2000-Jan.
Feb.
Mar .

638 .2
640.6
650 . 5

605 .9
613.4
6 21 . 0

93.0
94.4
95.3

698 .9
707 .8
716.3

264 .8
281.4
280.3

64.4
62.5
60 . 0

329.2
343.9
340.3

177.0
173.5
182.1

1843.3
1865.8
1889.1

3 63 9 . 0
3 605. 4
3 63 3. 6 p

13751.5
13843.8
13930.7 p

p

640.2

6 30 . 5

94.8

725 .2

270.9

59 . 8

330.7

174.2

1870.4

6
13
20
27

646 .4
659 .3
649.0
651.9

619.6
6 22 . 8
620.4
619.6

95.1
95.3
95.6
95.3

714.7
718.1
7 15 . 9
7 14 . 9

286.2
292.5
275.5
277.7

59.3
59.6
59.8
60.6

345 .5
352.0
335 . 3
338.4

1 81. 8
187.0
180.1
1 82. 5

1888.4
1916.4
1880.4
1887.7

3
10
17
24p

641.1
645 .3
646.9
635 .6

624 . 1
6 32.6
629 .7
628.2

9 4. 8
9 4. 9
95.1
94.7

7 19 . 0
727 .5
724 .8
7 22 . 9

263 .3
269.7
269.9
270.1

60.8
60.7
58.8
59.9

324 .1
330.4
328 . 8
330.0

176.6
174.4
1 70.0
173.7

1860.7
1877.7
1870.4
1862.2

lp

631.0

634 .2

94.3

728 .5

278.3

59.2

337 .6

17 8 . 3

1875.4

Apr.

May

5.

Eurodollars4

527 .9

Week endina
2000-Mar.

3.
4.

RPs3

1998-Doc.

Apr.

1.
2.

Large-denomination time deposits1

Large-denom ination tim e deposits are those issued in am ounts of $1 0 0 ,0 0 0 or more, excluding those booked at international banking facilities.
Large-denom ination tim e deposits at commercial banks less those held by money market mutual funds, depository institutions, U .S. governm ent, and foreign banks and
official institutions.
Overnight and term RPs of $ 1 0 0 ,0 0 0 or more issued by depository institutions, excluding those held by depository institutions and by m oney 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 C anada,
excluding those held by depository institutions and by money funds.
Debt data are on a m onthly averag e basis, derived by averaging adjacent end-of-month levels, and have been adjusted to rem ove discontinuities.

p preliminary
Components may not add to totals due to rounding.



Page 10
H.6 (508)
Table 10

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

Foreign
commercial
banks

Foreign
official
institutions

Time and
savings
deposits
due to
foreign
banks and
official
institutions

U.S. government deposits
Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note
balances at
depository
institutions1

Total
cash
jalance

Time and
savings
deposits at
commercial
banks

At
commercial
banks

At
thrift
institutions

At
money
market
funds

Total

32. 0

4.5

15 1 . 5

9 7. 4

117. 3

366.1

4.6
4.3
4.0

1 51 . 5
151.6
151 . 7

97. 0
9 6. 8
9 6. 5

119 . 2
121 . 0
122 . 8

367.7
369.3
371.0

1998-Dec.

1999-J a n .
Feb.
Ma r .

8.8
8. 7
8.7

1.8
1. 8
1.7

18.2
1 8. 6
19.1

2.9
1.4
1. 5

6.6
4.8
5. 5

3 0. 8
6.9

12.1

40 . 2
13 . 0
19. 1

Apr.
May
June

8.6
8.5
8.3

1.6
1. 6
1. 6

19.1
1 8. 6
18.1

4.6
1.4
2.6

6. 4
5. 4
5. 9

16. 5
28. 4
2 4. 0

27 . 5
35 .3
32. 5

3. 9
4.0
4.0

151.6
151.3
1 51.1

9 6. 4
96.3
96.3

1 24. 3
125 . 4
1 26 . 5

372.3
373.1
37 3 . 8

July
Aug.
Sep.

8.2
8.2
8.2

1. 6
1. 4
1. 3

18. 7
20 . 7
22.6

1. 3
1. 3
2.5

5. 2
5.1
6. 4

27. 2
9.2
2 9. 3

33 .7
15 . 6
38. 2

4.1
4.3
4.5

1 50 . 8
150.7
150.6

96.2
96.0
95.8

128 . 8
1 32. 6
136. 4

375.8
379.3
382.7

1. 3
1.4
1. 4

24 . 8
2 7. 4
3 0. 0

1. 4
1. 2
1. 5

5. 2
5.1
8. 3

2 8. 6

Oct.
Nov.
Dec.

8. 5
9.1
9. 7

3 9. 0

35 . 2
14 . 3
48. 7

4. 7
5. 0
5. 3

150.1
149.3
148.5

95. 6
95.3
9 5. 1

139 . 6 e
1 42. 3 e
145. 0 e

38 5 . 3 e
386.9 e
388.6 e

1. 5 e
1. 4 e
1. 5 e

3 0. 0 e
2 7. 4 e
24.8 e

2.9
1. 2
1. 3

8.1

Feb.
Mar.

10. 0 e
1 0. 0 e
1 0. 0 e

5. 3
5. 3

52. 5
24.3
14.1

63. 5
30 . 8
20. 8

5.2 e
5.0 e
4.7 e

14 8 . 3 e
1 48 . 5 e
148 . 7 e

94.9 e
94 . 9 e
94.9 e

147. 3 e
149 . 3 e
151 . 3 e

39 0 . 5 e
392.8 e
395.0 e

40.0

4.6 e

397.0 e

8. 4

153.1 e

Apr.

5. 0

94 . 9 e

2 3. 6 e

149.0 e

1. 5 e

53. 4

1 0. 0 e

1. 3
1. 3
1.6
1.1

5. 3
5. 2
6.0
5.1

11. 7
7.8
16. 4
10. 7

18. 3
14. 2
24 . 0
16. 9

1. 4

4. 7
5.8

3 9. 0
25.0
42.5
5 9. 0
9 8. 2

2 0 0 0 -Jan.

Apr.

3
10

17
24p
May

1.
e

lp

Source: Daily T reasury statem ent,
estimated

Component^may not add to totals due to rounding.




8.0

4.0
8.8

6.2

7.9

3 2. 9
17. 4
3 2. 3
42.3

7.3

16. 7

74.2

1.8