Full text of H.6 Money Stock Measures : May 17, 1990

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£££%•

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

^ass^--

H.6 (508)
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

MAY 17, 1990

Billions of dollars
Date

Ml 1

M2 2

Debt5

M3 3
Seasonally adjusted

1988-MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

773.1
778.9
783.4
784.4
784.8
785.1
786.0
787.5

3013.
3026.
3033.
3037.
3041.
3048.8
3064.1
3072.4

3805.
3827.
3847.
3858.
3867.
3883.8
3903.5
3918.

4506.3
4528.7
4567.8
4584.8
4592.9
4613.7
4644.1
4676.0

8607.8
8677.3
8741.2
8805.9
8868.3
8927.9
9000.8
9062.0

1989-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

785.8
786.7
785.5
782.1
776.2
773.7
779.1
780.4
782.9
788.1
789.4
794.8

3073.
3078.
3086.
3089.
3085.
3101.
3127.
3146.
3163.
3181.
3200.
3221.

3926.
3936.
3956.
3965,
3965.
3984.
4007.
4012.
4012.
4016.
4028.
4041.

4682.7
4699.8
4731.9
4757.0
4756.6
4778.8
4803.8
4817.3
4822.7
4831.2
4846.5
4868.3

9116.7
9182.9
9243.4
9300.1
9360.0
9413.6
9463.5
9528.6
9585.7
9652.6
9723.8
9762.9

1990-JAN.
FEB.
MAR.
APR. p

794.8
801.4
804.8
807.2

3229.3
3252.6
3266.4
3272.2

4046.1
4061.8
4064.2
4069.0

4870.6
4879.5
4895.0 p

9808.5
9871.0
9932.5 p

1988-MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

764.7
779.9
786.9
782.4
781.1
782.2
788.3
804.5

2999.
3024.
3039.
3037.
3034.
3046.
3067.
3085.

3790.7
3821.7
3845.8
3857.5
3864.5
3884.1
3912.4
3932.5

4493.6
4522.7
4558.3
4579.8
4588.6
4613.5
4652.2
4692.7

8564.6
8636.9
8698.8
8759.9
8830.5
8894.4
8969.0
9047.3

1989-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

793.5
773.0
775.9
791.6
767.7
774.4
782.3
778.1
779.1
785.0
791.7
812.1

3085.6
3065.8
3080,
3100
3071,
3099,
3132.
3146.
3156.
3178.
3204.
3233.

3935.5
3925.7
3954.4
3971.1
3950.7
3978.5
4005.4
4011.7
4009.1
4016.3
4038.4
4055.7

4700.5
4694.4
4729.7
4759.9
4744.9
4771.6
4792.9
4812.0
4818.2
4831.1
4855.3
4885.8

9100.8
9146.9
9202.7
9258.6
9317.5
9374.5
9422.8
9485.5
9551.0
9621.7
9693.2
9748.3

1990-JAN.
FEB.
MAR.
APR. p

802.3
788.0
795.7
817.1

3241.1
3240.5
3261.2
3283.4

4055.2
4050.3
4062.9
4075.6

4889.4
4874.6
4893.0 p

9799.0
9845.8
9900.8 p

Not seasonally adjusted

Footnotes appear on the following page,
p—indicates preliminary data.




H.6 ( 5 0 8 )
Table 2

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

Ml

M2

M3

Debt 1

3 Months from JAN. 1990 TO APR. 1990

6.2

5.3

2.3

6.9

6 Months from OCT. 1989 TO APR. 1990

4.8

5.7

2.6

7.2

3.2

5.9

2.6

7.5

12 Months from APR. 1989 TO APR. 1990

Thirteen weeks ending MAY 7, 1990
from thirteen weeks ending:

FEB.

5, 1990 (13 weeks previous)

5.7

5.6

2.4

NOV.

6, 1989 (26 weeks previous)

5.3

6.2

2.6

MAY

8, 1989 (52 weeks previous)

2.6

5.8

2.8

1.

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely,
December 1989 to March 1990, September 1989 to March 1990, and March 1989 to March 1990, respectively.

1.

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 (NOH) and
automatic transfer service (ATS) accounts at depository institutions, credit union share draft accounts and demand deposits
at thrift institutions. Seasonally adjusted Ml is calculated by summing currency, travelers checks, demand deposits, and
OCDs, each seasonally adjusted separately.
Consists of Ml plus overnight (and continuing contract) RPs issued by all depository institutions and overnight Eurodollars
issued to U.S. residents by foreign branches of U.S. banks worldwide, money market deposit accounts (MMDAs), savings and
small-denomination time deposits (time deposits — incuding retail RPs — in amounts of less than $100,000 ), and balances
in both taxable and tax-exempt general purpose and broker/dealer money market mutual funds. Excludes individual retirement
account (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 governments and commercial banks,
and the U.S. government. Seasonally adjusted M2 is computed by adjusting its non-Mi component as a whole and then
adding this result to seasonally adjusted Ml.
Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more) and term RP liabilities issued
by all depository institutions, term Eurodollars held by U.S. residents at foreiqn branches of U.S. banks worldwide
and at all banking offices in the United Kinqdom and Canada, and balances in both taxable and tax-exempt institution-only
money market mutual funds. Excludes amounts held by depository institutions, the U.S. government, money market funds,
and foreign banks and official institutions. Also subtracted is the estimated amount of overnight RPs and Eurodollars
held by institution-only money market mutual funds. Seasonally adjusted M3 is obtained by adjusting its non-M2 component as
a whole and then 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 of domestic nonfinancial sectors consists of outstanding credit market debt of the U.S. government, state and local
governments and private nonfinancial sectors. Private debt consists of corporate bonds, mortgages, consumer credit
(including bank loans), other bank loans, commercial paper, bankers acceptances and other debt instruments.
The data are derived from the Federal Reserve Board's flow of funds accounts. All data on debt of domestic nonfinancial
sectors are presented in month-averaqe form, derived by averaging adjacent month-end levels. These data have also
been adjusted to remove statistical discontinuities that may arise in the underlying flow of funds statistics. The
presentation of debt data in this release differs, therefore, from the quarterly flow of funds statistics contained in the
Federal Reserve releases Z.7 and Z.l. In those releases, published levels of credit market debt are measured on a quarter-end
basis and include discontinuities.

Footnotes to Table 1

2.

3.

4.
5.




H.6 ( 5 0 8 )
Table 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjusted
M2

Ml

Period eriding
1990-FEB. 12
19
26

13-week
average

4-week
average

794.5
795.4
796.4

796.3
797.8
800.9

M3

13-week
average

4-week
average

week
average

799.1
800.7
805.0

3224.4
3228.3
3232.5

3239.7
3244.9
3251.2

week
average

13-week
average

4-week
average

3247.8
3251.7
3259.6

4043.5
4045.8
4048.7

4052.1
4055.9
4060.8

4058.4
4061.2
4066.1

week
average

MAR.

5
12
19
26

797.7
798.6
799.3
800.0

803.0
803.9
804.4
804.4

807.2
802.7
802.7
805.1

3236.3
3240.2
3243.7
3246.9

3255.8
3259.8
3263.3
3266.1

3264.1
3263.9
3265.5
3270.9

4050.8
4052.7
4054.4
4056.1

4063.1
4064.3
4065.1
4065.0

4066.5
4063.5
4064.2
4065.6

APR.

2
9
16
23
30p

800.6
801.4
802.6
803.5
804.5

804.7
805.6
807.6
807.8
807.1

808.2
806.3
810.7
805.8
805.7

3250.1
3253.8
3257.6
3260.9
3263.6

3266.9
3269.1
3271.2
3272.1
3272.6

3267.2
3272.8
3274.0
3274.3
3269.2

4057.4
4059.3
4061.9
4063.6
4064.7

4063.2
4065.1
4068.6
4069.4
4069.7

4059.3
4071.1
4078.2
4068.9
4060.5

7p

805.0

806.9

805.5

3265.6

3272.3

3271.6

4065.5

4068.8

4067.7

MAY

Not seasonally adjusted
Ml

Period ending

13-week
average

4-week
average

1990-FEB. 12
19
26

802.2
801.7
801.1

788.3
786.2
787.6

M2
week
average

13-week
average

4-week
average

790.0
786.1
780.3

3232.0
3234.5
3237.3

3232.5
3233.6
3239.1

M3
week
average

13-week
average

4-week
average

3240.0
3239.5
3236.4

4052.0
4052.6
4053.3

4044.9
4044.7
4049.1

4052.8
4048.8
4043.5

week
average

MAR.

5
12
19
26

801.0
800.3
799.4
797.4

789.2
791.2
793.3
794.7

800.2
798.3
794.3
785.9

3239.9
3242.4
3244.8
3246.7

3243.7
3249.4
3254.5
3258.7

3258.8
3262.7
3260.0
3253.1

4054.2
4054.9
4055.9
4056.1

4052.3
4055.5
4058.5
4061.2

4064.1
4065.5
4061.0
4054.2

APR.

2
9
16
23
30p

795.6
795.1
796.5
798.2
800.1

795.3
801.5
810.5
818.3
817.4

802.5
823.1
830.4
817.2
798.9

3248.6
3251.4
3254.8
3258.2
3261.4

3262.3
3272.0
3281.2
3287.7
3283.3

3273.5
3301.5
3296.7
3279.0
3256.1

4056.5
4058.0
4060.0
4061.2
4062.5

4062.7
4070.6
4079.3
4082.1
4075.3

4070.0
4097.1
4095.9
4065.5
4042.5

7p

800.9

812.8

804.6

3262.8

3272.8

3259.3

4062.5

4063.9

4051.8

MAY

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—indicates preliminary data.



H.6 ( 5 0 8 )
Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions

of

dollars,

seasonally

adjusted

Other checkable
At
commercial

At
thrift

banks

institutions

192.9

284.5
284.9
283.9

Currency1

Travelers
checks2

Demand
deposits3

1988-DEC.

211.8

7.5

287.0

1989-JAN.
FEB.
MAR.

213.2
214.1
215.3

7.6
7.5
7.3

Date

General purpose
and broker/dealer
money market funds

Total

In M2

6

In M3
only 7

88.4

281.3

2284.9

845.9

240.9

192.1
192.1
191.7

88.4
88.1
87.4

280.
280.
279.

2287.8
2291.4
2301.4

852.
858.
869.

243.
247,
253,

4

3

APR.
MAY
JUNE

215.
216.
217.

281,
279.
276,

191.4
188.5
188.7

86,
84.
84,

277.9
272.8
273.0

2307.
2309.
2327.

875.
880.
883.

257.8
261.2
268.3

JULY
AUG.
SEP.

217.8
218.6
219.3

279.
278.
278,

189.8
191.1
192.4

84,
85.
86.

274,
276,
278,

2347.
2366.
2380.

880.
865.
848.

277.7
287.8
295.9

OCT.
NOV.
DEC.

220
220,
221,

280.0
278.8
279.7

194.
195.
197.

86,
86.
87.8

280.8
282.8
285.7

2393.4
2411.3
2426.2

834.
828.
820.

302.7
309.0
312.4

224.6
226.6
228.4

7.5
7.6
7.6

277.3
280.2
279.3

198.0
199.3
201.0

87,
87,
88,

285.4
287.0
289.5

2434.6
2451.2
2461.6

816.7
809.2
797.8

318.1
324.5
325.0

230.1

7.6

277.8

202.8

88.9

291.7

2465.1

796.8

324.8

12
19
26

227.5
228.3
229.3

7.6
7.6
7.6

278.8
278.1
278.7

200.4
200.3
200.9

88.4
88.4
88.6

288.9
288.7
289.5

2461.2
2462.8
2465.9

799.6
798.7
794.7

324.
325.
325.

2
9
16
23
30p

229.5
229.1
230.4
230.2
231.2

7.5
7.6
7.6
7.6
7.7

280.1
278.0
280.4
275.6
276.0

202.2
202.6
202.9
203.3
202.3

88.9
89.0
89.4
89.0
88.5

291.1
291.6
292.3
292.3
290.8

2459.0
2466.5
2463.3
2468.5
2463.6

792.1
798.3
804.2
794.5
791.3

325.
325.
324.
324.
325.

7p

230.6

7.7 e

275.2

202.6

89.5

292.1-

2466.1

796.2

323.8

1990-JAN.
FEB.
MAR.
APR.
Week

Nontransactions
components

deposits

p

ending

1990-MAR.

APR.

MAY

1.
2.

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.
3.
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.
4.
Consists of NON and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
5.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
6.
Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs and savings and small time
deposits. This sum is seasonally adjusted as a whole.
7.
Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated
amount of overniqht RPs and Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted as a whole.
e—indicates estimated data,
p—indicates preliminary data.



H.6 (508)
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars> seasonally adjusted
Savings deposits1

Money msirket deposit accounts
At
A*
thrift
commercial institutions
banks

Date

Total

At
A*
commerciail . thrift
banks
institutions

Small-denomination time deposits2

Total

At
At
commercial
thrift
banks
institutions

Total

Largerdenomination time deposits 3
At _
At
commercial
thrift
banks 4
institutions

Total

1988-DEC.

350.2

150.1

500.3

192.0

235.9

427.8

447.5

583.5

1031.0

368.2

172.9

541.1

1989-JAN.
FEB.
MAR.

345.6
342.2
339.7

147.1
143.3
140.2

492.6
485.6
479.9

190.2
189.3
188.1

234.0
231.6
229.8

424.2
421.0
417.9

455.5
465.0
474.7

587.2
589.3
591.7

1042.7
1054.2
1066.4

373.2
379.4
386.0

173.5
173.9
174.1

546.7
553.3
560.1

APR.
MAY
JUNE

337.0
331.7
331.0

136.2
131.5
130.0

473.2
463.1
460.9

185.8
183.1
182.3

226.2
222.3
221.1

412.0
405.4
403.4

486.3
497.3
501.8

597.8
605.7
612.2

1084.1
1103.0
1114.0

392.2
395.7
397.1

176.1
177.4
177.8

568.3
573.1
574.9

JULY
AUG.
SEP.

333.9
337.9
340.8

130.1
130.4
131.0

463.9
468.2
471.9

183.0
183.9
184.9

220.3
220.0
220.6

403.3
404.0
405.5

505.8
510.4
513.3

616.6
619.6
619.2

1122.4
1130.0
1132.6

398.7
397.8
397.2

176.0
172.7
168.4

574.7
570.5
565.6

OCT.
NOV.
DEC.

343.7
348.5
351.5

131.6
132.3
132.2

475.3
480.8
483.7

185.9
187.3
188.5

220.3
220.5
220.5

406.1
407.9
409.0

519.7
524.4
528.6

616.2
614.1
613.7

1135.9
1138.5
1142.3

398.8
401.5
401.5

163.8
159.5
156.8

562.7
561.0
558.3

1990-JAN.
FEB.
MAR.

352.4
356.0
359.1

132.5
133.4
135.8

484.9
489.4
494.9

189.8
191.8
193.4

220.4
221.8
221.2

410.3
413.6
414.6

531.4
534.7
537.2

611.1
606.5
606.6

1142.5
1141.2
1143.8

401.2
399.3
396.3

152.9
150.1
147.2

554.1
549.4
543.5

362.2

136.6

498.7

193.7

222.0

415.7

541.4

602.6

1144.0

394.8

143.0

537.8

358.3
359.8
360.5

135.7
136.1
136.2

494,
495.
496.

192,
193,
193,

220.
220.
221.

413
414,
414,

536.3
536.8
538.0

607,
607,
606,

1143.7
1143.8
1144.5

399,
396,
394.

147.
147.
146.

547.
544.
540.

2
9
16
23
30p

360.2
361.0
362.0
362.7
363.5

136.6
136.8
136.8
136.4
136.1

496.7
497.9
498.8
499.1
499.6

194.
194.
194.
193.
193.

221.
221.
222.
222.
221.

415,
416.
416.
415,
415.

538.3
539.3
540.8
542.3
543.9

604.9
605.2
604.4
601.
598.8

1143,
1144.
1145,
1143,
1142.

391.
394,
395.
396.
394.

146.0
145.1
143.9
141.5
140.4

537.7
539.1
539.5
537.8
534.7

7p

364.4

136.0

500.4

193.4

222.5

415.9

546.8

597.5

1144.3

397.1

139.9

537.0

APR. p
Week ending
1990-MAR. 12
19
26
APR.

MAY

1.
2.

Savings deposits exclude MMDAs.
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.
3.
Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
4.
Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, and foreign banks and
official institutions.
p—indicates preliminary data.




H.6 (508)
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Debt components4

Non-M3 Components of L
Institutiononly money
market funds

Date

Savings
bonds

Short-term
Treasury
securities1

Bankers
acceptances*1

Commercial
s
paper i

Federal

debt

Non-Federal
debt

1988-DEC.

87.1

109.3

272.0

40.6

335.6

2113.5

6948.5

1989-JAN.
FEB.
MAR.

87.1
86.9
86.3

109.8
110.7
111.5

270.
268.
274.

40.6
40.6
41.4

335.7
343.6
348.3

2121.8
2137.8
2158.7

6994.9
7045.2
7084.7

APR.
MAY
JUNE

88.3
92.1
96.3

112.2
112.8
113.6

280.
288.
289.

41.5
41.2
41.2

358.2
348.8
349.4

2168.8
2176.4
2184.2

7131.3
7183.6
7229.4

JULY
AUG.
SEP.

99.0
101.4
101.6

114,
115,
115,

290.9
293.3
303.7

41.9
42.6
41.0

349.5
354.3
350.3

2184.1
2200.7
2220.7

7279.5
7327.9
7365.0

OCT.
NOV.
DEC.

101.1
101.1
102.3

116.2
116.8
117.5

308.8
309.3
320.0

40.0
40.5
41.2

350.0
351.3
347.9

2238.2
2258.5
2265.4

7414.4
7465.3
7497.5

1990-JAN.
FEB.
MAR.

103.2
103.7
105.4

117.7
118.2
119.1 p

322.8
316.6
332.0 p

40.7
38.3
37.0 p

343.3
344.7
342.7 p

2275.4
2295.4
2323.8 p

7533.0
7575.5
7608.6 p

APR. P

106.8

Meek ending
1990-MAR. 12
19
26
APR.

MAY

105.1
105.9
106.3

2
9
16
23
30p

105.3
107.1
107.3
107.4
105.8

7p

108.4

1.

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.
3.
Total commercial paper less commercial paper held by money market mutual funds.
4.
Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove
discontinuities.
p--indicates preliminary data.
2.




H.6 ( 5 0 8 )
Table 5

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

Other checkable deposits

Currency

Date

1

Travelers
Demand
checks 2 deposits 3

At~
commercial
banks 4

At
thrift
institutions5

Total

In M 2 6

In M3
only 7

Overnight
RPs 8

Overnight
Eurodollars9

General purpose
and broker/dealer
money market funds

1988-DEC.

214.8

6.9

298.9

195.2

88.6

283 .8

2280 .8

847.3

69.9

13.4

240.5

1989-JAN.
FEB.
MAR.

211.7
211.9
213.9

7.0
7.1
7.0

290.5
275.8
276.0

196.4
192.3
192.7

87.9
85.9
86.3

284..3
278..2
279..0

2292 .0
2292 .8
2304 .8

849.9
859.9
873.7

69.9
68.2
67.7

16.6
15.1
14.3

242.9
248.4
256.8

APR.
MAY
JUNE

215.
216.
218.

283.3
273.6
276.7

197,
186,
187.

88.
84.
84.8

286. 3
270. 3
271. 8

2308,.5
2303,.5
2324,.7

870.9
879.6
879.4

64.1
63.2
65.0

14.
14.
14.

260.
260.
266.8

JULY
AUG.
SEP.

219.
219.
218.

281.8
277.1
276.3

187.
188.
190.

85.3
85.0
85.9

272. 7
273.,7
276.,5

2350,.4
2368..3
2377.,2

872.7
865.3
852.8

64.1
63.1
59.3

16.8
15.2
15.5

275.6
286.8
294.9

OCT.
NOV.
DEC.

218.
221.
225.

280.7
281.5
291.6

191.
194.
200.

86.5
87.2
88.1

278. 1
282.,1
288.,4

2393.,9
2412..6
2421.,8

837.3
834.1
821.8

61.2
61.7
62.5

14.
13.
14.

301.
309.
312.

222.9
224.2
227.0

7.0
7.2
7.3

283.0
271.4
271.6

202.5
199.5
202.2

87.0
85.7
87.6

289. 4
285. 2
289. 7

2438. 8
2452..5
2465.,6

814.1
809.9
801.6

63.9
66.7
66.1

16.9
14.8
14.8

317.0
326.1
329.5

229.5

7.3

279.8

209.4

91.2

300.6

2466.3

792.2

63.6

15.5

328.4

227.1
227.1
226.7

272.4
271.2
266.0

203.2
201.5
199.9

88.
87.
86.

291 .5
288 .8
285 .9

2464 .4
2465 .7
2467,.2

802.8
800.9
801.1

65.7
66.9
65.9

14.9
13.7
15.7

329.
330.
330.

227.2
230.7
230.4
228.8
228.2

276.8
281,
286,
278,
272.

202.6
210.7
212.8
211.9
203.1

88.
93.
93.
91.
87.

CSJ

16
23
30p

291,
303,.8
306,.3
302.,9
291..0

2471,.0
2478,.4
2466,.3
2461.,8
2457..2

796.5
795.6
799.2
786.4
786.4

63.7
64.1
60.5
6':. 6
65.3

15.8
15.7
12.0
16.2
17.9

329.
329.
329.
328.
326.

7p

231.7

270.8

204.0

90.7

294.7

2454.7

792.6

64.7

16.4

321.5

1990-JAN.
FEB.
MAR.
APR. p
Week ending
1990-MAR. 12
19
26
APR.

2
•9

MAY

1.
2.

7.3 e

Currency outside U.S. Treasury* Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollai—denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are
included in demand deposits.
3.
Demand deposits at commercial banks and foreian-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.
4.
Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreiqn banks, and Edge Act corporations.
5.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
6.
Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs and savings and small time deposits.
7.
Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated
amount of overnight RPs and Eurodollars held by institution-only money market mutual funds.
8.
Consists of overnight and continuing contract RPs issued by all depository institutions to other than depository institutions and money market
mutual funds (general purpose and broker/dealer).
9.
Issued by foreign branches of U.S. banks worldwide to U.S. residents other than depository institutions and money market mutual funds
(general purpose and broker/dealer).
e—indicates estimated data,
p—indicates preliminary data.




H.6 (508)
Table 5-continued

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

At
At
thrift
commercial
banks
institutions

Date

Total

Small-denomination time deposits2

Savings deposits1

Money market deposit accounts

At
At
commercia ,1 m thrift
banks
institutions

"
Total

At
At
commercial
thrift
banks
institutions

Total

Large-denomination time deposits 3
At
At
commercial
thrift
4
banks
institutions

Total

1988-DEC.

353.2

150.6

503.8

190.6

234.2

424.8

446.0

582.4

1028.4

366.9

174.2

541.1

1989-JAN.
FEB.
MAR.

349.1
343.8
341.2

147.3
143.2
140.6

496.5
487.0
481.7

189.3
187.9
187.8

232.3
229.2
229.3

421.5
417.1
417.0

455.2
465.4
475.7

589.4
591.6
591.4

1044.6
1057.0
1067.1

371.3
379.2
388.8

174.6
174.3
173.3

545.9
553.5
562.1

APR.
MAY
JUNE

337.2
328.0
329.0

135.6
130.7
129.6

472.8
458.8
458.6

186.3
183.7
183.5

226.6
222.7
222.7

412.9
406.4
406.2

486.3
496.0
502.5

597.4
603.8
611.0

1083.7
1099.8
1113.5

392.2
396.1
396.4

174.4
176.4
176.1

566.6
572.5
572.6

JULY
AUG.
SEP.

331.5
336.4
339.6

129.8
130.6
131.1

461.4
467.0
470.6

184.7
184.4
184.4

222.7
220.5
220.3

407.3
404.9
404.6

507.1
511.3
513.9

618.0
619.9
618.2

1125.1
1131.2
1132.1

396.5
398.4
398.6

174.2
172.0
168.8

570.7
570.4
567.4

OCT.
NOV.
DEC.

342.7
350.3
355.0

131.8
132.8
132.8

474.6
483.1
487.8

185.9
187.1
187.2

221.3
220.5
219.0

407.2
407.6
406.2

519.2
523.1
526.4

616.3
614.2
612.3

1135.5
1137.3
1138.8

399.9
401.9
399.8

165.5
161.7
158.3

565.4
563.6
558.1

1990-JAN.
FEB.
MAR.

356.3
357.7
360.8

132.9
133.3
136.1

489.3
491.1
496.9

189.0
190.5
193.2

218.8
219.5
220.9

407.8
410.0
414.1

530.8
535.2
538.3

613.2
608.7
605.9

1144.0
1143.9
1144.2

398.9
399.1
399.1

154.1
150.5
146.3

552.9
549.6
545.5

362.3

135.9

498.2

194.2

222.4

416.6

541.7

602.3

1144.0

394.8

141.6

536.4

360.6
361.3
360.9

136,
136
136,

497.1
497.8
497.3

192.
193.
193.

220.4
220.8
220.7

413.
414.
414.

537.7
537.8
538.8

606
605
604

1144,
1143,
1143.

401.
398.
399.

147.
146.
145.

548.
545.
544.

2
9
16
23
30p

362.3
365.2
364.9
361.0
358.3

136..7
137..5
136..7
134.8
134.2

499.0
502.7
501.6
495.8
492.4

195.
196.
195.
192.
192.

222.
224.
223.
221.
220.

417.
420.
418,
414.
413.

539.
540.
540.
542.
544.

606.1
605.7
603.8
600.6
598.0

1145.6
1145.8
1144.7
1143.1
1142.0

396.
396.
395.
394.
392.

145.
143.
142.
139.
139.

541.
540.
537.
534.
532.

7p

358.8

134.6

493.4

193.5

222.6

416.1

546.2

596.4

1142.6

395.5

138.9

534.4

APR. p
Week ending
1990-MAR. 12
19
26
APR.

MAY

Savings deposits exclude MMDAs.
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.
3.
Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
4.
Largeydenomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, and foreign banks and
official institutions,
p—indicates preliminary data.
1.
2.




H.6 (508)
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Term RPs 1
At
InstitutionA*
thrift
only money commercial
institutions
market funds
banks

Date

Debt components 6

Non-M3 Components of L

Total

Term
Eurodollars2

Savings
bonds

Short-term
Treasury ^1
securities"

Bankers
acceptances4

Commercial
paper 5

Federal
debt

Non-Federal
debt

1988-DEC.

87.6

40.4

81.4

121.7

106.0

109.2

277.5

41.0

332.5

2111.8

6935.5

1989-JAN.
FEB.
MAR.

89.3
89.6
87.6

40.9
44.8
46.3

82.1
81.9
82.6

123.0
126.7
128.9

100.6
100.1
105.7

110.1
111.0
111.7

275.2
271.6
273.7

40.3
39.8
40.4

339.4
346.3
349.4

2121.4
2133.7
2149.0

6979.4
7013.3
7053.6

APR.
MAY
JUNE

87.7
91.6
95.1

43.8
43.7
43.7

82.5
83.8
84.7

126.3
127.5
128.4

100.3
97.2
93.4

112.4
113.0
113.7

279.3
283.8
282.6

41.0
41.2
41.5

356.1
356.2
355.4

2155.1
2159.5
2165.1

7103.5
7158.0
7209.4

JULY
AUG.
SEP.

98.2
100.6
99.2

45.0
45.1
47.5

78.8
71.8
65.5

123.8
116.9
112.9

91.8
89.6
85.3

114.2
114.7
115.4

282.3
289.8
304.2

42.2
42.7
41.6

348.8
353.1
348.0

2163.7
2179.6
2200.9

7259.1
7305.9
7350.1

OCT.
NOV.
DEC.

98.7
102.1
102.9

47.8
49.1
44.8

60.5
58.1
50.0

108.3
107.2
94.8

80.0
79.2
81.1

116.0
116.6
117.3

312.8
316.0
326.4

40.4
41.0
41.7

345.8
343.3
344.7

2222.6
2250.8
2264.2

7399.1
7442.3
7484.1

1990-JAN.
FEB.
MAR.

106.0
107.0
106.8

46.0
49.6
47.7

45.4
45.2
45.3

91.4
94.8
93.0

75.9
71.8
69.3

118.0
118.5
119.4 p

328.6
320.7
330.9 p

40.4
37.5
36.1 p

347.3
347.6
343.8 p

2275.5
2292.5
2316.1 p

7523.5
7553.3
7584.7 p

105.8

46.7

46.0

92.7

69.2

107.1
106.6
107.1

47.6
47.4
49.4

45.3
45.3
45.7

92.9
92.7
95.2

68.0
69.4
67.7

2
9
16
23
30p

106.4
106.9
106.6
104.9
104.9

45.6
45.8
49.7
45.2
46.2

45.3
45.8
45.9
45.9
46.5

90.9
91.7
95.7
91.1
92.7

70.3
69.1
71.2
68.4
67.7

7p

106.8

46.0

47.1

93.1

70.1

APR. p
Neek ending
1990-MAR. 12
19
26
APR.

MAY

Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs.
Term Eurodollars are those with original maturities greater than one day. Consists of those issued to U.S. residents by foreign branches of U.S banks
world-wide and by all bankinq offices in the United Kingdom and Canada. Excludes those held by depository institutions and money market mutual 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,
--indicates preliminary data.




H.6 ( 5 0 8 )
Table 6

MEMORANDUM ITEMS

10

Billions of dollars> not seasonally adjusted
Demand deposits
at banks due to

Foreign
Foreign
commercial
official
banks
institutions

Date

U.S. government deposits
Time and savings
deposits due to
foreign banks
and official
institutions

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note balances
at depository
institutions

Total
cash
balance

IRA and Keogh Accounts
Time and
savings
deposits
At
At
at commercial commercial
thrift
banks
banks
institutions

At
money
market
funds

Total

1988-DEC.

9.5

1.9

3.9

4.2

5.5

18.7

28.4

1.5

93.9

122.6

20.5

237.0

1989-JAN.
FEB.
MAR.

9.3
9.4

1.8
1.8
1.7

4.0
4.1
4.2

4.0
3.7
3.8

8.1
5.8
5.2

21.0
22.2
14.3

33.1
31.7
23.3

1.3
1.3
1.3

95.1
96.2
97.4

123.7
124.3
125.4

20.7
21.2
22.2

239.5
241.7
244.9

8.8

APR.
MAY
JUNE

8.9
8.9
10.0

4.2
4.0
3.8

5.2
3.3
4.6

8.9
14.1
9.7

15.0
31.0
21.6

29.0
48.5
35.8

1.4
1.4
1.4

99.9
101.8
102.8

127.3
128.6
130.0

23.1
23.6
23.8

250.3
254.0
256.5

JULY
AUG.
SEP.

10.0
8.9
9.4

3.7
3.7
3.7

3.4
3.2
5.5

6.4
5.4
7.8

19.6
12.7
19.4

29.4
21.2
32.6

1.4
1.3
1.3

104.1
105.3
106.0

131.2
131.4
132.2

24.7
24.8
26.4

260.0
261.5
264.6

OCT.
NOV.
DEC.

9.9
9.4
9.7

3.7
3.7
3.6

3.3
3.5
5.2

5.9
5.2
4.8

17.4
11.2
14.4

26.5
19.9
24.5

1.4
1.4
1.4

107.3
108.0
108.7

132.5
132.3
133.3

27.1
27.5
28.0

266.9
267.8
270.0

1990-JAN.
FEB.
MAR.

9.8
9.1
9.0

3.6
3.6
3.6

4.4
3.5
3.6

6.0
6.2
5.3

18.8
18.5
13.1

29.1
28.2
22.0

1.4
1.3
1.3

110.3
111.9
113.3

134.4 e
135.3 e
136.5 e

30.0
32.0
32.7 e

274.8 e
279.2 e
282.5 e

115.6

138.4 e

33.1 e

287.1 e

9.1

1.5

3.6

5.1

4.4

14.9

24.4

1.3

8.6
8.9
9.3

1.4
1.7
1.7

3.6
3.6
3.7

3.0
4.9
3.1

5.1
4.9
5.3

11.0
13.8
17.0

19.1
23.6
25.4

1.3
1.3
1.3

2
9
16
23
30p

9.4
9.7
8.7
9.4
8.6

1.5
1.5
1.4
1.6
1.5

3.7
3.6
3.6
3.6
3.6

3.1
4.0
6.5
5.3
5.3

5.0
4.5
4.9
4.5
3.4

12.9
3.4
3.4
21.2
32.0

21.1
11.9
14.8
31.1
40.7

1.3
1.3
1.3
1.3
1.3

7p

9.5

1.8

3.6

3.9

5.4

33.4

42.7

1.4

APR. p
Week ending
1990-MAR. 12
19
26
APR.

MAY

e—indicates estimated data,
p—indicates preliminary data.




H.6<508)
Special Supplementary lable

Monthly Survey of Selected Deposits
March 28, 1990 and April 25, 1990*
(not seasonally adjusted)

Insured Commercial Banks

Liability Categories

Amount Outstanding ($rnii)
Change
March 28
April 25
(percent)

NOW Accounts

197,767

202,907

2.60

4.99

4.99

Money market deposit accounts
Personal

250,977

250,908

-0.03

6.32

6.33

106,263

103,852

-2.27

6.21

6.20 •

-1

190,520

189,496

-0.54

5.54

5.52

-2

48,924

48,505

-0.86

7.52

7.51

-1

92 to 182 days

157,769

158,034

0.17

7.77

7.81

4

183 days to 1 year

183,302

189,128

3.18

7.91

7.97

6

1 to 2-1/2 years

130,162

131,465

1.00

7.98

8.04

6

2-1/2 years and over

133,611

133,062

-0.41

7.94

8.01

7

114,036

116,678

2.32

N.A.

N.A.

N.A.

Nonpersonal
Savings deposits

Average Rate Paid (%)

March 28

-April 25

Change
(lM7,)

1

Interest-bearing time deposits
with balances of less than
$100,000 with original
maturities of:
7 to 91 days

All IRA/Keogh Plan deposits

2

FDIC-insured Savings Banks3
Amount Outstanding
Liability Categories

ttmitt
Change
(percent)

Average Rate Paid (%)
March 28

Change
(b,p.)

March 28

April 25

7,879

7,971

1.17

5.47

5.45

-2

26,571

26,018

-2.08

6.91

6.95

4

1,656

1,632

-1.45

6.47

6.56

9

39,828

39,331

-1.25

5.60

5.59

-1

5.405

5,283

-2.26

8.02

7.97

-5

92 to 182 days

29.335

29.175

-0.55

8.17

8.23

6

183 days to 1 year

36,608

36,531

-0.21

8.33

8.37

4
9

NOW Accounts
Money market deposit accounts
Personal
Nonpersonal
Savings deposits
Interest-bearing time deposits
with balances of less than
$100,000 with original
maturities of:
7 to 91 days

1 to 2-1/2 years
2-1/2 years and over
All IRA/Keogh Plan deposits

2

April 25

24.535

24,267

-1.09

8.28

8.37

22.613

21,993

-2.74

8.30

8.39

9

23,099

23,067

-0.14

N.A.

N.A.

N.A.

N.A. — data are not available
NOTE: Data for earlier month may show revisions.
1.
Estimates are based on data collected by the Federal Reserve System from a stratified random sample of about 500 commercial banks and
80 savings banks. AI! rates are expressed as annual effective yields.
2.
Total IRA and Keogh Plan deposits regardless of size, type of instrument in which held, or interest rate paid.
3.
FDIC-insured savings banks include both mutual and federal savings banks.