Full text of H.6 Money Stock Measures : May 14, 1987

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

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

BkX

14,

1967

Billions of dollars

Sum of currency,
travelers checks,
demand deposits and
other checkable deposits1

Date

1986—APR.
flAY
JONL
JULX
AUG.
SEPT.
OCT.
NOV.

DEC
1937 — J A M .
Fx.5.
HABL
APE, P

M2
M3
M1 plus overnight RPs
M2 plus
and Eurodollars,
large time deposits,
MMMF balances (gen. pur. term RPs, term Eurodollars
and broker/dealer), MMDAs,
and institution-only
MMMF balances3
and savings and small
2
time deposits
seasonally adjusted

Debt

M3 plus other
liquid assets4

Debt of domestic
nonfinancial sectors3

648.2
659.6
6b7.5
676.6
687.0
693.1
701.4
712.4
730. 5

2623.8
2647.3
2667.5
2693.8
2718.4
2736.3
2760.7
2775.4
2799.8

3293.1
3314.8
333^3
3368.2
3396.0
3420.5
3441.0
3459.3
3488.9

3920.2
3952.0
3972.6
3998.7
4026.9
4055.5
4081.4
4107.8
4140.9

7023.9
7095.8
7167.5
7235.5
7315.7
7392-8
7453.7
7529. 1
7625.6

737.6
737.2
739. 2
750.2

2822.0
2821.5
2825.7
2839.6

3515.3
3518.9
3524.4
3541.3

4174.7
4183.9
4174.4

7707.2
7758.7
7809.6

Not seasonally adjusted

198b—APkft AY
JUN£
JULX
AUG.
S£PT.
OCT.
SUV.

'

1987--JAN,
r£B.
fl A a.
Ar>h. P

For period ended

337-APh.

6
13
20

a AS-

4 ?

653.9
652.5
o*9. 8
640.4
685.2
691.3
69d.9
715.5
746.6

2631.4
2637.9
2668.7
2700.4
2715.8
2728.8
2757.1
2777.7
2813.3

3299.7
3306.5
3336.4
336d.S
3391.5
3414.9
3437.5
3463.6
3504.2

3927.2
3937.8
3971.3
3999.3
4023.7
4049.6
4075.8
4110.6
4154.4

6996.6
706J.6
7132.4
720U.5
7284.9
7370.4
743b.2
751J.3
7618.4

744.3
7*3.1
728.7
757.4

2S32.2
2809.5
2819.4
2848.2

3526.1
3509.1
3521.5
3549.4

4136.0
4175,6
4177.7

7701.4
7742.3
7786.4

;

Not seasonally adjusted
4-week average

13-week average

Seasonally adjusted
4-week average

737.0
737.7
7J9.7
741.7

739.9
740.5
744.5
749.3

740.0
742.3
756.7
758.1

730. b
730.6
733.2
735.5

7J2.7
7J9.5
751.9
758.7

754.0
758.4
772.5
749.8

742.6

751.5

748.8

737.6

757.5

749.3

13-week average

week average

I

KOTt:

I

week average

..

. . . .~.

.iPiCIA*. CAUTIOM 5dO3LD B2 TAKBH IM IHTBRPfiETIMG MEEK-TO-BEE* CHANGES I * HONfil SUPPLI DATA, iHICH AH:
HlviHLI TOLATILS AS2 SUBJECT TO KE7ISIOHP - - m C I C A r z . J PRSLlaiNABY DATA.
*oolSGTI.i A?t>2AB ON TH£ FOLLOdlHG PAGE




H.6 (508)
Table 2

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

M2

M3

Debt 1

J MONTUS FROM JAN.

1v<l7

TO APR.

19B7

b.d

2.5

3.0

9.7

b MONT US FROM OCT.

1<Jdb TO APR-

19d7

1J.9

5.7

5.8

11. J

I9d6

19d7

15.7

a. 2

7-5

12.2

12 MONTHS FROM APR.

TO APR.

rfTEEN WEEKS ENDING MAY
<4, 1 9 8 7
FROM THIRTEEN tfEEKS ENDING:

1/

VZU*

2,

19d7

(U

WELKS

PREVIOUS)

d.2

NOV.

J,

19Bb

(26

WEEKS

PREVIOUS)

1J.B

MAI

5,

19dO

(52

WEEKS

PREVIOUS)

15.7

GROWTH RATES FOR DEBT ARE BASED OH PERIODS ^EGXMMIMG AMD ENDING ONE MOUTH EARLIER THAN FOtf THE MONETARY AGGREGATES,
NAMELY, DECEMDEH 1986 TO MARCH 19B7# SEPTEMBER 19bb TO MARCH 19B7, AMD MARCH 198b TO MARCH 19d7# RESPECTIVELI,

FOOTNOTES TO TABLE 1
CONSISTS OF (1) CURRENCY OUTSIDE THE TREASURE, VKD&kkL KESEHVE BANKS, AND THE VAULTS OF COMMERCIAL BANKS;
(2) TRAVELERS CHECKS OF MONBANK ISSUERS; (J) DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSE DUE TO
DOMESTIC BANKS, THE U.S. GOVERNMENT, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS
OF COLLECTION AND £ED&UAL Ht£SKbV& FLOAT; AMD (4) OTHER CHECKABLE DEPOSITS (OCD) 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. THE CURRENCY AND DEMAND
DEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AND DEMAND DEPOSITS, RESPECTIVELY, HELD BX
THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
2/ CONSISTS OF Ml PLUS OVERNIGHT (AND CONTINUING CONTRACT) HPS ISSUED BY ALL COMMERCIAL BANKS AND OVERNIGHT EURODOLLARS
ISSUED TO U.S* RESIDENTS BY FOREIGN BRANCHES Ot U.S. BANKS WORLDWIDE, MMDAS, SAVINGS AND SMALL DENOMINATION
TIME DEPOSITS (TIME DEPOSITS—INCLUDING RETAIL UPS—IN AMOUNTS OF LESS THAN $100,000), AND BALANCES IN BOTH
TAXABLE AND TAiC-EIEMPI GENERAL PURPOSE AND BMOKER/DEALEtf HONEY MARKET MUTUAL FUNDS. EXCLUDES IRA AND KEOGH
BALANCES AT DEPOSITORY INSTITUTIONS AND MONEY MARKET FUNDS. ALSO EXCLUDES ALL BALANCES HELD BY U.S. COMMERCIAL
BANKS, MONEY MARKET FUNDS (GENERAL PURPOSE AND BROKER/DEALER), FOREIGN GOVE&JiMEilTS AND COMMERCIAL BANKS, AND
THE U^S. GOVERNMENT. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT
OF DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS.
3/ CONSISTS OF M2 PLUS LARGE DENOMINATION TIME DEPOSITS (IN AMOUNTS OF $100,000 OR MORE) AND TERM MP LIABILITIES ISSUED
uY COMMERCIAL BANKS AND THRIFT INSTITUTIONS, IEBM EURODOLLARS HELD BY U.S9 UESID&MS AT FOttEIGN BRANCHES OF U.S. BANKS
WORLDWIDE AND AT ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA, AND BALANCES IB BOTH TAXABLE AND TAX-EXEMPT
INSTITUTION-ONLY MONEY MARKET MUTUAL FUNDS. EXCLUDES AMOUNTS HELD BY DEPOSITORY INSTITUTIONS, THE U.S. GOVERNMENT, HOMEY
MARKET FUkDS, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTflKNT THAT fiUPAESENTS
Tiit ESTIMATED AMOUNT OF OVERNIGHT UPS AND EURODOLLARS HELD BY INSTITUTION-ONLY HONEY MARKET MUTUAL FUNDS.
<i/ CONSISTS OF MJ PLUS THE NONiiANK PUBLIC HOLDINGS OF U.S. SAVINGS BONDS, SHOfiT-TERM TREASURY SECURITIES, COMMERCIAL
PAPER AND BANKERS ACCEPTANCES, NET OF MONEY MARKET MUTUAL FUND HOLDINGS OF THESE ASSETS.
5/ DEuT OF DOMESTIC NOMFINAMCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MARKET DEBT OF THE UhilTKD STATES GOVERNMENT,
STATE AND LOCAL GOVERNMENTS AND PRIVATE NONFIhANCIAL SECTORS. PRIVATE DEBT CONSISTS OF CORPORATE bOHUS, MORTGAGES,
CONSUMER LHEUir (INCLUDING iJANK LOANS), OTHER liANK LOANS, COMMERCIAL PAPER, BANKERS ACCEPTANCES AND OTHER DEBT
INJTRUM^N'i^. TU£ DATA AhE bLUlVcl) FROM THE FEDERAL KESfcfcVE BOARD'S iLOW OF tUHDli ACCOUNTS. ALL DATA ON DEBT OF DOMESTIC
NOUFINANCIAL SEC'iORS AdK PRESENTED IH MONTH-AVEhAGE FOR/I, DERIVED BY AVERAGING MONTH-END LEVELS OF ADJACENT MONTHS. THESE
DATA HAVE ALSO BEEN ADJUSTED TO UciMOVE STATISTICAL DISCONTINUITIES THAT MAY ARISE IN THE UNDERLYING FLOW OF FUNDS STATISTICS.
TiiF I'M-.SKNT ATI ON nf Dl-.iiT DATA IN THIS liKl.KAiiE l)IFFhUSv THEREFORE, FUOM THE QUARTERLY FLOW OF FUNDS STATISTICS CONTAINED
1/




H i 008)
• 3

COMPONENTS OF THE MONEY STOCK
SMItoot of dollsrs, ssasonalty adjusts*

Dtt*

Currency1

Travslars
chocks*

Demand
deposits'

Otfwr
chscksbt*
deposits 4

raomfansaciions
oomponsnts

tarings dsposlts 7
1

InM*

Of*/

at
at
oonwnafclal
twfWt
banks
Institutions

total

Ssltctsd nontransactk
Small tlms d t p *iHs9
at
at
oommsfclal
llwIM
total
banks
Institutions

at

tan.M tkna dspoalts"
at
IL.IIJ

banks19

Infffi

total

Institution!

6.2

277.7
282.2
285.0

189.9
195.5
199.6

1975.6
1987.7
200O.0

669.3
127.2
667.5 < 129.5
670.8 | 131-5

183.9
187.3
190.2

311.1
316.8
321.8

387.1
384.1
381.5

506.0
503.9
501.5

893.1
888.0
883.0

293.5
289.9
289.4

157.?
157-7
158.2

451.3
44 7.6
447-6

177.6
179.0
179.7

6.3
6.4
6.4

288.2
291.2
292.2

204.5
210.4
214.7

2017.2
2031.4
2043.2

674.4
134.Q
677.6
137.3
684.2 i 141.1

193.3
197.2
200.3

327.4
334.6
341.4

380.0
377.0
374.1

500.9
499.6
498.1

880.9
876.7
872.2

289.5
290.1
289.8

156.9
159.3
158.7

448.3
449.4
448.5

OCT.
NOV.
DEC.

181.2
182.4
183.5

6.4
6.4
6.4

293.4
297.8
308.3

220.4
225.9
232.3

2059.3
2063.0
2069.3

680.3
683.9
689.1

145.8
150.2
154.$

204.6
208.3
211.7

350.4
358.5
366.2

370.0
365.9
364.7

494.7
491.3
488.3

864.7
857.1
853.3

288.3
290.0
292.0

157.4
155.8
155.1

445.7
445.9
447.0

1987-JAN.
FEB.
HAH.

186.0
187.2
187.8

6.5
6.7
6.8

305.1
300.7
299.1

240.1
242.7
245.5

2084.3
2084.2
2086.4

693.3
697.4
696.7

159.8
164.4
168.2

216.9
222.9
22 8.3

376.7
367.2
396.4

364.7
362.5
360.0

486.6
465.0
485.3

651.2
847.6
645.3

295.9
296.0
299.1

153.8
152.0
150.9

449.6
448.0
450.0

188. 9

6.8

303.9

250.6

2089.4

701.7

172. I

234.1

406.2

357.6

485.1

842.6

306.1

148.6

454.6

1986-APR.
«AY
JUNE

174.4
175.8
176.7

6.1
6.1

JULY
AUG.
SEPT.

APB. P
• EEK ENDING
1987
APB.

HAT

1/
2/
3/

4/
5/
6/
7/
8/
9/
10/

6
13
20
27 P

187.7
18*.6
189.3
189.3

299.6
299.2
308.4
307.2

245.8
247.6
252.2
254.9

171.2
172.1
172.0
172.6

358.3
358.3
357.0
357.1

303.2
305.2
306.1
307.9

4 P

189.6

303.0

249.4

173.4

356.9

309.7

CURRENCY OUTSIDE THE 0.3. TREASURY. FEDERAL RESERVE BANKS AND VAULTS OF COHHERCIAL BANKS. EXCLUDES THE ESTIMATED
AMOUNT OF fAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR OCO LIABILITIES.
OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS OF IONBAIK ISSUERS. TRAVELERS CHECKS ISSUED BT DEPOSITORY
INSTITUTIONS ARE INCLUDED IV DEHAND DEPOSITS.
DEHAND DEPOSITS AT COHHERCIAL BANKS AND FOREIGN RELATED INSTITUTIONS OTHER THAK THOSE DUB TO DOMESTIC BANKS, THE U.S. GOVERN*
RENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LUSS CASH ITEMS IN THE PROCESS OF COLLECTION AND TBDBRkL RBSBB1B FLOAT.
EXCLUDES THE ESTIMATED AMOUNT OF DEHAND DEPOSITS HELD AT COHHERCIAL BANKS 61 THRIFT INSTITUTIONS TO SERVICE THEIR OCD
LIABILITIES.
CONSISTS OF ROM AID ATS BALANCES AT ALL DEPOSITORI INSTITUTIONS, CREDIT ONION SHARE DRAFT BALANCES AND
DEMAND DEPOSITS AT THRIFT INSTITUTIONS.
SUM OF OVERNIGHT RPS AND OVERNIGHT ZVHODOLLkkS. MONSI MARKET FUND BALAICES (GENERAL PORPOSB AID BROKER/DEALER),
HHDAS, AND SAVINGS AND SHALL TIME DEPOSITS, LESS THE CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AHODIT OF
DEMAND DEPOSITS AND VAULT CASH HELD BT THRIFT INSTITUTIONS TO SERVICE THEIR TIME AID SAVINGS DEPOSITS LIABILITIES.
SUM OF LARGE TIME DEPOSITS, TERM EPS AND TERM EURODOLLARS OF U.S. RESIDENTS, NONET MARKET FUND BALANCES (INSTITUTIONONLY), LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AID EURODOLLARS HELD BI
INSTITUTION-OILY MONEY MARKET FUNDS.
SAVINGS DEPOSITS EXCLUDE MHDAS.
SMALL DENOMINATION TIME DEPOSITS—INCLUDING RETAIL R P S — ABE THOSE ISSUED IN AMOOITS OF LESS THAI $100,000. ALl
INDIVIDUAL RETIREMENT ACCOUNTS (IRA) AID KKOGH ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS ARE SUBTRACTED FROM SMALL
TIME DEPOSITS.
LARGE DENOMINATION TIflE DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF $100,000 OR MORE, EXCLUDING THOSE BOOKED AT
INTERNATIONAL BANKING FACILITIES.
LAHGK DENOMINATION ilME DEPOSITS AT COMMERCIAL BANKS LESS THOSE HELD iiY HONEY MARKET MUTUAL FUNDS,
DEPOSITOR INSTITUTIONS AND i-OREI^N iiANKS ANi> OFFICIAL INSTITUTIONS.




H.6 (508)
Table 4

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

2/
3/
4/

Non-M3 components of L
short-term treasury
bankers acceptances3
securities 1

commercial paper9

Debt
federal debt

components4
non federal debt

1 9 6 6 - i l ML.

81.2

299.4

41.4

206.6

1628.5

5335.0

APR.
HAY
JUNE

81.9
82.7
8J.5

2*8.5
304.0

40.6
39.8
39.8

206.1
210.7
212.6

1b4i.5
I6b5. 1
1691.9

5382.4
5430.8
5475.6

JULY
AUG.
SEPT.

84.3
85.3
86.4

292. b
288.7
28 7.9

39.0
37.3
J6.9

214.5
219.7
223.9

1712.6
1725. 1
1741-0

5522.9
5590.6
5651.2

OCX.
MOV.
DEC.

87.7
89.8
91.7

28b. 7
292.2
292.5

37.7
38.0
37.5

228.4
228.4
230.2

1755.2
1776.5
1804.8

5698.6
5752.5
5320.0

1987-JAM.

92.7
93.5
94.3

289.2
292.5
276.2

37.8
39.3
40.0

239.7
239.8
239.5

1817.8
1824.7
1830.7

5889.5
5933.9
5978.9

MAR. P

1/

savings bonds

CONSISTS OF U.S. TREASURY BILLS AMD COUPONS kl£H REMAINIMG MATURITIES OF LESS THAN 12 MOUTHS HELD BY OTHER THAW DEPOSITORY
INSTITUTIONS, FEDERAL RESERVE BANKS, MONEY MARKET MUTUAL PUNDS AMD 2Q&&IGH ENTITIES.
NET OF BANKERS ACCEPTANCES U&LD BY ACCEPTING BANKS, F&DE1UL H&SBBWK BIHKS. FOREIGV OFFICIAL INSTITUTIONS, THE FEDE&kL
HOI1E LOAN BAMK SYSTEH AND HONEY MARKET MUTUAL FUNDS.
TOTAL COMMERCIAL PAPER L£SS COMMERCIAL PAPER HVLl) BY MONEY MARK£T MUTUAL FUNDS.
DEBT DATA ARE ON A MONTHLY AVERAGE BASIS, Dt&lVEO BY AVERAGING END-OF-MONTH LEVELS OF ADJACENT MONTHS. AND HAVE BEEN
ADJUSTED TO REMOVE DISCONTINUITIES.




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

Other chc kable deposits
1

Currency

Travelers
checks7

Demand
deposits1

at commercial
banks4

at thrift
institutions5

total

6

in M2

in M3 only'

Overnight
RPs8

49.7

191-4
193.2
197.3

668.0
675-7
686.0

54.6
57.6
55.5

17.2
17.1
17.3

199.7
200.5
202.2

2058.2
2062-2
2066.7

680.3
68b. 0
690-9

58. 1
57.9
58.3

19.4
18.8
19.0

206.9
207.1
207.6

242.8
240.2
244.9

2087.8
2086.4
2090.7

693-9
699.6
702. 1

61.5
60.2
58. 1

22.3
19.5
19.1

209.0
210- 7
21 1.6

78.8

257.2

2090.8

701.2

56. 1

21.0

21 1.8

19-6
19.2

173.6
175.7
177.4

5.8
5.9
6.5

2/9.5
277.4
2U6.2

1J5. 1
133.1
136.9

59.9
60.3
62. 8

195.0
193.5
199.7

1977.5
1985.4
1998.9

668.4
668.6
66 7.7

50.7
51.3

JULX
AUG.

179.1
179.9
179-5

7.2
7.3
6.9

290.5
289.4
291.J

139.3
143.0
146.9

64.3
65.6
66.6

20 3.6
208.6
213.5

2020.1
2030.6
2037.6

NOV.
DEC

180.9
183.2
186.2

6.5
6.1
6.0

293.0
300.1
319.4

150-4
155.7
162.8

68- 1
70.3
72.2

218.5
226.0
235.0

1987-JAN.
FEB.
MAB-

184.6
184-8
186.0

6.0
6.2
6.4

311.0
291.9
291.4

169.8
167.6
170.4

73.0
72.6
74.5

188.0

6.5

305.8

178.4

WEEK

ENDING :

1987-APR.

flA 1

1/
2/
3/
4/
5/
6/
7/
8/
9/

General
purpose and
broker/dealer
money market
funds

17.5
17.6
16.6

1986-APtt.
rtA*
JUNE

APfl. P

Overnight
Eurodollars1

6
13
20
21 V

188.0
188.7
188.5
187.1

304.4
304.2
313.9
302.3

176.2
178.9
183.5
177.3

79.0
80- 1
80. 1
76.7

255.2
259.0
263.6
254.0

58.1
58.0
52.9
55.8

18.9
25.0

210.3
211.9
212.6
212.6

4 P

188.7

302.9

173.1

78. 1

251.2

56.1

23.7

211.Q

CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL &ZSM E BANKS AND THE VAULTS OF COMMERCIAL BANKS.
AMOUNT OF VAULT CASH HELD BY THRIFT INSTITUTIONS TO SEHVICE THEIR OCD LIABILITIES.
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 OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVEBHtiEHT AND FOREIGN BANKS AND
OFFICIAL INSTITUTIONS, LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND F9R. FLOAT, LESS THE ESTIMATED AMOUNT OF DEMAND
DEPOSITS HELD AT COMMERCIAL BANKS BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIESCONSISTS OF NOW AND ATS BALANCES AT COMMERCIAL BANKS, U.S. BRANCHES AND AGENCIES OF FOREIGN BANKS, AND EDGE ACT
CORPORATIONS.
CONSISTS OF NOR AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND MUTUAL SAVINGS BANKS, CREDIT UNION SHARE
DRAFT BALANCES, AND DEMAND DEPOSITS AT THRIFTS.
SUM OF OVERNIGHT RPS AND EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER), MMDAS AND SAVINGS
AND SMALL TIME DEPOSITS LESS THE ESTIMATED A MO UNI' OF DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE
TUEIH TIME AND SAVINGS DEPOSIT LIABILITIES.
SUM OF LARGE TIME DEPOSITS, TERM KPS AND EURODOLLARS OF U.S. RESIDENTS, MONET MARKET FUND BALANCES (INSTITUTION-ONLY), LESS A
CONSOLIDATION ADJUSTMENT THAT PEPhESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD dY INSTITUTION-ONLY
MONEY MARKET MUTUAL FUNDS.
CONSISTS OF OVERNIGHT AND CONTINUING CONTRACT hi>S ISSUED liY COMMERCIAL BANKS TO OTHER THAN DEPOSITORY INSTITUTIONS AND
MONEY MAUKET MUTUAL FUNDS (GENEhAL PUafOSE AND BhOK EH/DEALER) .
ISSUED UY FOKEIGN RANCHES OF U.S. WANK.S UURLOVIDL
TO U.S. RESIDENTS OTHEH THAN DEPOSITORY INSTITUTIONS AND
MON&Y fiAaKE'i MUTUAL fUhtili (GENEKAL PUrtl»OSE >Xo .niOft EH/D KA l.EK) .




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
commercial
thrift
banks
institutions

Date

at
commercial
banks

Savings deposits
at
thrift
institutions

total

posits12
Small denomination time deposits
at
at
total
thrift
commercial
institutions
banks

Large denomination time deposits3
at

at

commercial
banks4

thrift
institutions

total

345.4
349.2
356.0

180.7
182.4
185.1

526.1
531.6
541. 0

127.2
129.9
132.5

184.2
187.8
191.2

311.5
317.7
323. 6

384.8
382.4
381.0

504.2
500.3
498-5

889.0
882.7
879.5

290.8
288-6
286-7

156.8
157.5
157.6

447.7
446.0
444.3

JUL1
AUG.
SEPT.

359.8
3b4.3
368.9

186.9
189.3
189.9

546.6
553.6
558.8

135.4
137.6
141.0

194.7
195.6
198.6

330.1
333.2
339.6

380.4
378.5
375.9

500.5
498.9
497.4

880.9
877.5
873.3

286.7
289.9
291.2

158.1
159.3
159.1

444.8
449-2
450.3

OCT.
NOV.
DEC.

372-6
376.0
379.0

191.9
192.7
192.3

564.4
568.7
571.3

146.4
150.J
15J.9

204.8
209.0
211.7

351.1
359.3
365.5

371.3
3 66.7
364.4

496.1
492.9
489.6

867.3
859.5
854.1

289.5
290.8
293.4

157.8
156.0
154.7

447.3
446.8
448.1

1987-JAN.
FEB.
HAb-

J81.7
378.5
378.1

192.4
192.2

574.2
570.6
570.3

159.2
162.8
167. 1

217.2
221.9
228.2

376.4
384.7
395.2

3 64.4
362.1
359.6

489.6
487.5
485.5

854.1
849.6
845.2

297.0
298.2
301.5

154.2
152.8
150.9

451-2
451.0
452.4

375.4

189.9

565.3

172.0

234.3

406.3

355.7

483.5

8J9. 1

303.4

147.8

451.2

1986-APB.
flAY
JUNE

APK.

P

WEEK ENDING
1987

APR.

HAY

0
1J
20
21 P

379.1
379.1
375.4
371.1

171.6
172.5
171.5
171.9

357.1
355.7
355.3
355.0

304.2

4 P

368.9

173.2

3 55.0

306.0




J03.2

302lo

M « (bOti)

facie 5 continued

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

Term RPs1
Date

Institution
only money
market funds

at commercial
banks

at thrift
institutions

Components of Debt

Noo M3 Componnntt of I

total

Term
Eurodollars1

Savings
bonds

Short-term
treasury
securities1

"

Bankers
acceptances

Commercial
paper*

Federal debt

Non-Ftferai*
debt

74.1
7b. 1
75.0

35.7
35.5
33.8

35.8
38.0
41.2

71.5
74. 1
75.1

81.4
79.7
80.0

81.8
82.6
83.4

300.6
298.3
296.4

39.9
39.6
39.8

205.2
210.3
215.3

1644.6
1660.7
1676.9

5352.0
5402.9
5453.5

JULY
AUG.
SEPT.

77.5
80.8
84.4

33.2
34.0
35.6

41.2
41.2
42.2

74.4
75.2
77.9

78.2
77.2
79.9

84.2
65.2
86.4

292.1
290.2
287.8

39.2
37.9
37.4

215.3
219.0
223.1

1695. b
1713.3
1734.5

550%.9
5571.6
5635.9

OCT.
NOV.
DEC

84.5
84.4
84. 1

34.3
36.9
34.9

43,7
45.5
47.1

78.0
82.4
82.0

76.6
78.4
83.2

87.8
69.9
91.9

283.9
291.1
292.3

3S.0
36.0
37.4

228.7
227.9
226.7

1746.6
177.1.7
1803.3

5667.7
5741.6
5615.1

1987-JAN.
FEB.
MAR.

84.0
84.7
84.9.

33.3
34.4
33.6

47.3
48.9
48.5

80.6
83.2
82. 1

86.2
89.9
91.4

92.7
93.5
94.3

290.1
293.7
281.a

37.8
38.9
39.4

239.3
240.4
240.6

1616.9
1826.7

5864.5
5915.6
5946.2

83. 1

36.5

51.1

87.6

86.3

19B6-APR.
HAY
JUNE

APB. P

t&3$.3

WEEK E N D I N G ;
1987-APR.

6
13
20
21 P

8 4.0
84.7
82.5
82.0

33.3
34.5
39.8
37-3

MA r

4 P

81.6

37.8

1/
2/
3/

TERR BPS ABE THOSE WITH ORIGINAL MATURITIES GMrfATEH THAN ORE DAI, EXCLUDING CONTISUING COMPACTS AMD UETAIL MPS. IMCLOOES
A RELATIVELY SMALL AMOUNT OF OVERNIGHT BPS AT THfllFT INSTITUTIONS.
TEUM EURODOLLARS ARE THOSE WITH ORIGINAL HATUJtITJ.ES GREATER THAN ONE D A L CONSISTS OF THOSE ISSUED TO V-S. RESIDENTS BT
FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE AND BY ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA. EXCLUDES THOSE HELD
BY DEPOSITORY INSTITUTIONS AND HONEY MARKET HUTUAL FUNDS.
CONSISTS OF U.S. TREASURY BILLS AND COUPONS UIIH REMAINING MATURITIES OF LESS THAN 12 MONTHS HELD BY OTHER THAN DEPOSITORY
INSTITUTIONS, FEDERAL RESERVE BANKS, MONEY MARKET MUTUAL FUNDS, AND FOREIGN ENTITIES.
! |1 !t ! v
'" " ' ' "W.D \\Y ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDEBAL




H.6 (508)
Table 6

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

IRA and Keogh Accounts

U.S. government deposits

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

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

foreign
commercial
banks

foreign
official
institutions

6.8
9, 1
9.4

1.8
1.7
1.7

4.9
4.7
4.4

4.3
3.0
3.5

3.7
4.8
2.9

13.6
18.7
12.6

21.6
26.5
19.0

1.6
1.6
1.7

66.7
70.2
70.6

92.2
93.7
94.7

9.8
10. 1
10.1

170.7
174.0
175.4

9.7
9.5
9.9

1.9
1.7
1.8

4.2
4.2
4.2

3.6
3.0
3.6

3.8
3.2
5.6

13.2
8.1
14.6

20.6
14.2
23.8

1.7
1.7
1.8

71.0
71.J
71-5

95.4
95.1
95.2

10.2
10.2
10.5

176.6
176.7
177.2

OCT.
NOV.
DJSC

10.0
9.7
9.9

i.a
2.0
1.8

4.2
4. 1
4. t

3.4
3.4
3.7

3.4
3.2
3.1

11.8
11.9
15.5

18.6
18.4
22.9

1.7

71,6
72.1
72.8

95.6
95.6
96.2

10.8
10.7
10.7

178.1
178.4
179.7

198 7 - J A M .
FUb.
MA A.

10.4
9.9
9.5

1.8
1.7
1-7

4.0
4.0
4.0

3.7
3.3
3.5

9.6
5.0
3. 1

23.8
25.2
13.6

37. 1
33.6
20.3

1.7
1.6
1.6

73.4
74.0
75.4

97.4
98.3
99. 2e

10.8
11.0
11. 2e

181.6
183.4
185.8e

9.7

1.9

3.9

4.6

7.0

16.6

28.4

1.7

78.4

11. 6e

192.2e

9.8
9.8

3.9
3.9
3.9
3.9

5.0
3.0
6.4
4.9

4.0
3.6
3.7
9.1

6.5
12.3
15.8
25.6

15.5
18.9
26.0
39.9

1.7
1.6
1.6
1.7

3.9

4.9

26.9

55.1

1..7

Date

198b-APR.
HAT
JUNE
JULX
AUG.
SEPT.

APR. P

1.8
1.7

MEEK ENDING;

1987
APR.

HAY

6
13
20
27 P

9.6

2.0
1.9
1.8
1.8

4P

9.6

2.2




9.7

23.3

commercial
banks

thrift
institutions

102.

2e

money
market
mutual funds

total

H.6(508)
Supplementary Table 1

Levels and Annual Growth Rates of M1 Using Standard1, Concurrent2,
and Experimental Alternative3 Seasonal Adjustment Procedures
Monthly average
Levels in billions of <jollars
Experimental
Standard
Alternative
Concurrent

Annual growth rates in percent
Experimental
Alternative
Concurrent

Standard

632. 2

631 -

631 .0

6, ,3

6. 7

MARCH

640. 5

640. 7

639.4

1 5,9

16. 7

1 6.

APRIL

648,

648. 3

643.4

14 . 4

14. 2

7,

MAY

659. 6

659. 9

65R.4

21 . 1

21 . 5

28. 0

JUNE

667. 5

668. 2

668.7

14 . 4

15. 1

18. 8

JULY

676. 6

676. 8

676.5

16 . 4

15. 4

14. 0

AUGUST

687. 0

687,

o

687.9

18 . 4

18. 4

20. 2

SEPTEMBER

6 9 3 .1

693 .4

692.7

10 . 7

10. 8

8. 4

OCTOBER

701 k 4

701 . 3

700.0

14 . 4

13.

12.

NOVEMBER

712 .4

712 ,0

711.9

18 . 8

18. 3

20. 4

DECEMBER

730 .5

729 .8

730.3

30 . 5

30. 0

31 . 0

737 .6

736 .9

735.3

11 . 7

11 . 7

8. 2

737 . 2

736 .9

735.4

- .7

0

2

.7

7 3 9 .5

737.5

~.z,.3

?

3. 4

4. 2

750 . 3

743.7

17 . 9

17. 5

10. 1

986-FEBRUARY

[987-JANUARY
FEBRUARY

APRIL

•

750

••}

1. Standard monthly seasonal factors are derived at the beginning of each year by applying an X-11/ARIMA-based procedure to data through the end of the previous year.
Z Concurrent-monthly seasonal factors are derived each
month by applying an X-11/ARIMA-based procedure to data
through that month.




•

4,

8.

6

3. Alternative monthly seasonal factors are derived using an
experimental model-based procedure. This procedure uses
a combination of statistical regression and time series modeling techniques to construct seasonal factors that are more
sensitive than standard factors to unique characteristics of
each series. These characteristics include fixed and evolving seasonal patterns, trading day effects, within-month seasonal variations, holiday effects, outlier adjustments, special
events adjustments, and serially correlated noise components.