Full text of H.6 Money Stock Measures : May 18, 1989
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^SiS;.
FEDERAL RESERVE statistical release
H.6 (508)
Table 1
MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES
MAY 18, 1989
Billions of dollars
Date
Ml1
HZ'
Debt5
M3 J
Seasonally adjusted
1987-MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
746.6
741.3
742.8
745.6
747.9
757.3
754.6
752.3
2845.5
2848.0
2856.2
2869.6
2885.3
2902.7
2904.7
2909.9
3564.
3579.
3588.
3610.
3630.
3655.
3670.
3677.
4215.1
4231.8
4237.5
4262.7
4293.5
4327.7
4337.5
4340.5
7860.3
7919.5
7964.2
8020.0
8084.4
8152.9
8230.2
8283.9
1988-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
758.4
760.1
763.8
771.2
771.1
776.5
782.5
782.4
783.7
785.4
786.6
790.3
2930.5
2950.8
2969.3
2990.3
2999.8
3013.1
3023
3029
3035
3042
3059
3069
3701.
3731.
3755.
3779.
3794.
3815.
3838.
3850.
3859.
3876.
3897.
3915.
4376.5
4406.3
4436.3
4475.3
4503.8
4520.9
4565.0
4584.8
4593.5
4615.1
4643.3
4681.4
8326.9
8384.2
8449.3
8509.7
8567.1
8624.7
8682.8
8747.3
8811.3
8869.1
8936.6
8995.5
1989-JAN.
FEB.
MAR.
APR. p
786.3
787.4
786.3
783.1
3065.6
3069.7
3079.5
3080.8
3920.1
3929.8
3952.1
3960.2
4686.9
4701.8
4739.7 p
9052.3
9125.9
9194.7 p
1987-MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
739.9
744.6
747.0
745.2
745.5
754.1
756.5
766.4
2835.8
2850.0
2863.2
2869.8
2878.9
2899.1
2903.9
2918.7
3554.2
3578.8
3590.2
3610.0
3628.4
3653.1
3674.8
3688.5
4202.4
4231.4
4230.9
4257.4
4288.2
4323.8
4345.0
4354.9
7823.6
7888.1
7936.8
7991.5
8056.1
8123.2
8196.4
8266.0
1988-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
765.2
745.5
752.6
779.1
764.6
779.9
786.9
782.3
781.0
782.1
788.3
804.4
2941..1
2938..3
2962..4
3001..4
2990..1
3015..5
3031..4
3030..5
3028..5
3038..4
3057.8
3077.0
3710.1
3719.3
3750.3
3785.8
3784.4
3815.9
3839.5
3851.4
3857.7
3873.8
3902.5
3925.0
4392.7
4402.1
4432.8
4478.7
4491.7
4521.3
4556.9
4579.6
4588.6
4611.0
4651.1
4695.1
8309.6
8347.6
8411.5
8472.6
8529.8
8592.3
8648.4
8707.5
8777.1
8838.0
8907.3
8982.2
1989-JAN.
FEB.
MAR.
APR. p
793.0
772.3
775.1
791.3
3075.9
3057.2
3072.9
3092.4
3927.5
3917.7
3946.8
3965.7
4703.6
4699.0
4736.4 p
9037.1
9095.5
9166.3 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
2.0
4.1
8.9
3 Months from JAN. 1989 TO APR. 1989
-1.6
6 Months from OCT. 1988 TO APR. 1989
-0.6
2.5
4.3
8.7
1.5
3.0
4.8
8.8
-1.8
1.6
3.8
12 Months from APR. 1988 TO APR. 1989
Thirteen weeks ending MAY 8, 1989
from thirteen weeks ending:
FEB.
6, 1989 (13 weeks previous)
NOV.
7, 1988 (26 weeks previous)
0.1
2.6
4.4
MAY
9, 1988 (52 weeks previous)
2.4
3.4
5.0
Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates> namely,
December 1988 to March 1989, September 1988 to March 1989, and March 1988 to March 1989, respectively.
Footnotes to Table 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 commercial banks and overnight Eurodollars issued
to U.S. residents by foreign branches of U.S. banks worldwide, money market deposit accounts (MMDAs), savings and smalldenomination time deposits (time deposits — including 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 commercial banks and thrift institutions, term Eurodollars held by U.S. residents at foreign branches of U.S. banks
worldVride and at all banking offices in the United Kingdom 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 foreion 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 nonfinaneial sectors consists of outstanding credit market debt of the U.S. government, state and local
overnments 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-average 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.
f
H.6 ( 5 0 8 )
T able 3
MONEY STOCK MEASURES
Billions of dollars
Seasonally adjus ted
Period ending
13-week
average
4-week
average
1989-FEB. 13
20
27
787.8
788.0
788.0
786.0
786.7
787.2
M3
M2
Ml
13-week
average
4-week
average
784.1
789.1
788.6
3066.3
3067.0
3067.8
3065.0
3066.7
3069.0
week
average
week
average
13-week
average
4-week
average
3065.4
3072.1
3075.3
3915.6
3918.4
3920.9
3919.3
3924.5
3928.9
3920.4
3939.3
3936.5
week
average
MAR.
6
13
20
27
788.1
787.6
787.3
787.1
788.3
788.4
787.8
787.4
791.5
784.2
786.9
787.1
3068.7
3069.3
3070.3
3071.1
3073.9
3076.7
3079.4
3079.9
3082.7
3076.5
3083.2
3077.0
3923.4
3925.7
3928.8
3932.5
3935.3
3941.7
3946.9
3951.9
3945.0
3946.1
3959.8
3956.7
APR.
3
10
17
24
786.4
786.1
785.8
785.9
784.8
784.2
782.8
782.8
780.9
782.0
781.2
787.0
3072.2
3073.6
3075.1
3076.3
3079.6
3081.4
3081.8
3082.6
3081.7
3083.8
3084.5
3080.3
3935.2
3938.3
3941.5
3944.8
3954.3
3958.3
3959.0
3960.2
3954.6
3962.1
3962.5
3961.5
785.5
784.4
783.0
780.7
781.6
772.9
3076.7
3077.2
3080.1
3076.5
3071.6
3069.7
3947.6
3950.2
3960.3
3958.1
3955.1
3953.3
MAY
lp
8p
Not seasonally adjusted
Ml
Period ending
13-week
average
4-week
average
1989-FEB. 13
20
27
793.4
792.2
790.5
775.4
772.7
772.2
M3
M2
week
average
13-week
average
4-week
average
774.5
770.7
762.0
3070.6
3070.2
3070.1
3057.6
3055.2
3056.6
week
average
week
average
13-week
average
4-week
average
3059.3
3056.6
3050.0
3921.3
3922.6
3923.1
3912.4
3913.0
3916.8
3918.0
3921.5
3912.3
MAR.
6
13
20
27
789.3
787.4
785.2
782.7
773.1
773.8
774.7
775.7
785.0
777.6
774.3
765.9
3070.0
3069.8
3069.8
3069.5
3061.0
3064.7
3069.2
3071.9
3077.9
3074.4
3074.4
3060.9
3924.6
3926.3
3928.4
3930.5
3923.4
3930.4
3937.7
3945.3
3941.9
3946.0
3950.6
3942.7
APR.
3
10
17
24
779.8
778.0
778.0
778.7
774.6
779.3
785.6
791.8
780.5
796.6
799.4
790.8
3069.6
3070.2
3071.7
3073.0
3075.2
3084.2
3092.1
3097.7
3090.9
3110.6
3106.0
3083.1
3932.3
3934.9
3937.7
3940.5
3951.1
3960.6
3967.1
3970.2
3965.2
3983.9
3976.6
3954.9
779.7
779.4
791.2
786.2
777.9
776.6
3074.4
3074.9
3090.8
3079.6
3063.3
3065.9
3943.8
3946.3
3964.1
3954.8
3941.0
3946.8
MAY
lp
8p
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 (508)
Table 4
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
N o n t r a n s a c t ions
components
Savings d e p o s i t s 7
Small time
Currency1
T r a v e l e r2 s
checks
Demand
deposits3
Other
checkable4
deposits
I n M2 5
I n M3
only6
A*
commercia 1
banks
1987-DEC.
196.4
7.1
288.3
260.4
2157.7
767.6
178.5
237.8
416.4
1988-JAN.
FEB.
MAR.
198.5
199.4
200.7
7.2
7.3
7.2
289.4
288.1
288.4
263.4
265.4
267.5
2172.2
2190.7
2205.5
771.0
780.5
786.6
179.5
181.3
183.3
237.6
237.5
238.1
APR.
MAY
JUNE
202.4
203.4
204.7
7.2
7.3
7.3
290.3
288.1
289.8
271.2
272.2
274.7
2219.1
2228.7
2236.6
789.3
794.8
802.5
184.5
186.0
187.7
JULY
AUG.
SEP.
206.4
207.0
208.6
7.2
7.2
7.3
290.4
289.9
288.8
278.5
278.3
279.0
2241.4
2247.3
2251.3
814.1
820.7
824.6
OCT.
NOV.
DEC.
209.7
210.5
211.8
7.4
7.5
7.6
288.9
287.7
288.6
279.4
281.0
282.3
2256.8
2272.6
2279.1
1989-JAN.
FEB.
MAR.
213.4
214.3
215.6
7.6
7.5
7.3
284.0
284.8
284.3
281.3
280.9
279.1
215.9
7.3
281.4
Date
APR. P
At
thrift
institutions
At
thrift
institutions
Total
385.3
528.6
914.1
417.0
418.8
421.5
388.7
393.7
398.1
536.8
548.7
554.7
925.4
942.4
952.8
238.8
239.3
239.8
423.3
425.2
427.6
403.2
406.2
409.3
560.2
564.8
566.4
963.4
971.0
975.7
189.1
190.0
190.1
240.5
240.9
240.3
429.7
430.9
430.5
412.9
417.4
423.6
568.1
570.9
575.1
981.0
988.3
998.7
833.9
838.1
845.8
189.8
192.8
192.5
239.4
239.1
238.8
429.2
431.8
431.3
430.9
436.4
443.1
578.8
581.4
582.2
1009.7
1017.8
1025.2
2279.3
2282.3
2293.2
854.4
860.1
872.6
190.8
190.3
188.6
237.0
234.3
232.2
427.8
424.6
420.8
451.0
461.0
472.0
584.7
587.4
589.0
1035.7
1048.3
1060.9
278.5
2297.7
879.4
185.6
227.3
412.8
485.5
597.0
1082.5
Total
At .
commercial
banks
deposits8
Neek e n d i n g
1989-MAR.
13
20
27
215.2
215.8
216.2
7.4
7.3
7.3
282.0
284.4
285.5
279.6
279.3
278.1
2292.3
2296.4
2289.9
869.6
876.6
879.7
189.7
188.2
187.8
233.0
232.3
231.7
422.8
420.5
419.5
469.0
472.4
475.7
588.7
589.1
589.2
1057.7
1061.5
1064.9
APR.
3
10
17
24
215.8
215.3
215.9
216.4
7.2
7.3
7.3
7.3
280.6
280.5
280.3
282.8
277.2
279.0
277.7
280.5
2300.8
2301.8
2303.2
2293.3
873.0
878.3
878.1
881.1
187.3
186.6
185.8
184.6
230.4
229.2
228.2
225.9
417.7
415.8
414.1
410.5
478.3
482.5
485.6
487.3
590.1
594.0
597.1
599.5
1068.4
1076.4
1082.8
1086.8
216.3
215.7
7.3
7.3 e
281.5
278.6
276.4
271.3
2290.1
2296.8
883.5
883.6
184.3
183.2
223.9
223.5
408.2
406.7
490.4
493.9
600.9
604.1
1091.3
1097.9
MAY
lp
8p
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.
Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government and foreign
3.
banks and official institutions, less cash items in the process of collection and Federal Reserve float.
4.
Consists of NOH and ATS balances at all depository institutions, credit union share draft balances and demand deposits at thrift institutions.
5.
Sum of overnight RPs and overnight 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.
Sum of large time deposits, term RPs and term 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 funds. This sum is seasonally adjusted as a whole.
7.
Savings deposits exclude MMDAs.
8.
Small denomination time deposits--includinq 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.
e--indicates estimated data.
p--indicates preliminary data.
H.6 (508)
Table ^-continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Large time deposits1
At
thrift
institutions
Debt components6
Non-M3 components of L
Total
Savings
bonds
Short-term
Treasury
securities3
Bankers
acceptances4
Date
At
comtnercia
il
banks 2
1987-DEC.
325.4
162.0
487.4
100.4
257.5
44.7
1988-JAN.
FEB.
MAR.
323.7
328.4
331.0
163.3
163.9
165.3
487.0
492.3
496.3
101.3
102.5
103.4
261.0
257.3
255.6
APR.
MAY
JUNE
331.8
334.1
339.6
167.4
168.2
168.2
499.2
502.4
507.8
104.4
105.3
106.0
JULY
AUG.
SEP.
345.5
350.8
355.0
168.5
168.6
171.7
514.0
519.4
526.7
OCT.
NOV.
DEC.
359.2
361.2
364.9
172.8
173.2
172.9
1989-JAN.
FEB.
MAR.
370.7
378.2
385.3
Federal
debt
Non-federal
debt
260.3
1957.5
6326.3
43.7
41.0
41.1
269.0
274.2
280.3
1963.6
1981.0
2006.2
6363.3
6403.2
6443.1
262.3
265.1
258.3
41.4
41.1
40.7
287.6
297.8
300.4
2018.2
2023.2
2033.3
6491.4
6544.0
6591.3
106.8
107.4
107.9
269.7
274.5
275.5
40.7
41.2
41.7
309.8
311.3
308.8
2042.7
2059.5
2079.9
6640.1
6687.7
6731.3
532.0
534.4
537.7
108.4
108.7
109.1
277.0
273.1
280.8
41.3
40.5
40.6
312.3
323.7
335.8
2088.8
2100.4
2113.8
6780.3
6836.2
6881.6
173.7
173.4
173.4
544.4
551.6
558.7
109.7
110.6
111.5 p
281.7
277.4
284.8 p
40.6
39.8
41.1 p
334.9
344.2
350.3 p
2122.1
2139.6
2162.0 p
6930.2
6986.4
7032.7 p
392.4
175.2
567.6
1989-MAR. 13
20
27
385.5
386.6
385.9
173.0
173.5
173.7
558.5
560.0
559.6
3
10
17
24
387.5
391.3
392.8
394.6
173.5
174.8
175.3
176.5
561.0
566.1
568.1
571.1
393.1
395.5
175.0
176.5
568.1
572.0
APR. P
Commercial
paper5
Neek ending
APR.
MAY
IP
8p
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 and
foreign banks and official institutions.
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 5
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions
of
dollars>
not
seasonally
adjusted
Other checkable
1
Travelers Demand 3
checks'- deposits
At
commercial
banks4
deposits
Nontransactions
components
At
thrift
institutions5
Total
In M2
b
In M3
only7
Overnight
RPs 8
Overnight
Eurodollars9
General purpose
and broker/dealer
money market funds
Date
Currency
1987-DEC.
199.3
6.5
298.6
180.5
81.4
262.0
2152.3
769.8
61.9
16.4
221.1
1988-JAN.
FEB.
MAR.
197.0
197.1
199.1
6.6
6.8
6.9
295.9
279.1
279.9
184.3
182.0
184.2
81.4
80.4
82.5
265.7
262.4
266.7
2176.0
2192.8
2209.7
768.9
781.0
788.0
64.4
61.5
59.7
18.4
16.4
14.8
225.2
231.0
234.8
APR.
MAY
JUNE
201.6
203.6
205.7
6.9
7.1
7.6
292.1
283.1
291.3
191.2
185.1
187.6
87.
85.
87,
278.5
270.8
275.3
2222.3
2225.4
2235.6
784.4
794.3
800.4
60.2
63.2
63.7
15.4
17.2
17.1
235.8
231.8
228.9
JULY
AUG.
SEP.
208.0
207.9
208.0
8.2
8.2
7.9
293.1
289.0
287.4
188.7
188.8
189.7
88,
88.
88.
277.7
277.2
277.8
2244.5
2248.2
2247.5
808.0
820.9
829.2
62.0
64.1
62.6
15.6
15.8
14.7
229.6
230.8
231.0
OCT.
NOV.
DEC.
2Q9.0
211.3
214.9
7.5
7.1
6.9
288.7
290.0
298.8
189.0
191.3
195.0
88.
88.
88.
276.9
279.9
283.7
2256.3
2269.5
2272.7
835.4
844.7
848.0
62.1
62.5
64.8
13.
13.
13.
231
237
239
1989-JAN.
FEB.
MAR.
211.8
211.9
213.9
7.0
7.1
7.0
290.5
275.7
275.8
196.3
192.2
192.5
87.5
85.4
85.8
283.7
277.6
278.3
2282.9
2284.9
2297.8
851.6
860.5
873.9
65.1
64.0
63.3
16.6
15.1
14.3
241.6
247.4
256.5
215.1
7.0
283.2
197.4
88.5
286.0
2301.1
873.3
60.2
14.1
260.2
APR. P
Neek
ending
1989-MAR.
13
20
27
214.2
214.2
213.9
7.1
7.0
7.0
276.0
275.3
271.1
193.9
192.3
189.8
86.
85.
84.
280.3
277.8
273.8
2296.8
2300.1
2295.1
871.6
876.2
881.8
63.3
63.9
61.2
14
15.
12,
255.
256.
258.
APR.
3
10
17
24
213.8
216.4
215.4
214.3
7.0
7.0
7.0
7.0
280.6
284.5
286.4
282.4
192.
198.
200.
199.
86.
90.
90.
87.
279.1
288.7
290.6
287.1
2310.3
2314.0
2306.6
2292.3
874.4
873.4
870.6
871.9
64.2
63.2
59.6
58.0
16.
14.
14.
13.
259.
260.
261.
261.
214.2
217.3
7.0
7.0
279.3
275.5
191.8
190.0
85.7
86.8
277.5
276.8
2285.4
2289.3
877.7
880.9
58.0
58.7
13.
13.
258.
257.
MAY
lp
8p
1.
2.
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.
3.
Demand deposits at commercial banks and foreiqn-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 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.
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 commercial banks 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 - c o n t i n u e d
COMPONENTS OF MONEY STOCK. LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Money m a r k e t
A*
ccommercial
Date
banks
deposit accounts
At
thrift
institutions
Total
Savings
2
Small-denomination time d e p o s i t s
d e p o s i t s 1l
At
At
commercial
thrift
banks
institutions
Total
At
commercial
banks
At
thrift
institutions
Total
Large-denomination
At~
commercial
banks*
3
time deposits
At
thrift
institutions
Total
1987-DEC.
358.8
167.5
526.3
176.6
234.8
411.4
386.1
529.1
915.2
325.8
163.0
488.7
1988-JAN.
FEB.
MAR.
359.5
359.8
361.5
165.5
163.8
164.0
525.0
523.6
525.5
178.1
179.4
182.5
234.4
233.8
236.7
412.5
413.2
419.2
390.2
395.0
398,7
540.3
552.2
557.0
930.5
947.1
955.8
323.6
328.2
332.5
164.3
164.7
165.2
487.9
492.9
497.8
APR.
MAY
JUNE
361.0
357.8
360.7
163.3
162.7
162.5
524.2
520.5
523.2
185.0
187.1
189.6
239.4
240.6
242.7
424.5
427.7
432.3
401.4
403.3
407.6
560.8
561.8
562.9
962.2
965.1
970.5
330.1
333.2
338.2
166.0
167.3
166.6
496.1
500.5
504.8
JULY
AUG.
SEP.
360.3
357.7
354.5
161.6
160.0
157.0
522.0
517.7
511.4
191.5
191.0
189.8
244.5
242.8
241.1
436.0
433.7
430.9
412.5
417.2
424.2
566.8
568.8
572.7
979.4
986.0
996.9
342.9
351.3
357.0
166.5
167.9
172.2
509.5
519.2
529.1
OCT.
NOV.
DEC.
353.0
354.1
352.5
154.5
152.6
150.3
507.5
506.7
502.7
190.2
192.2
190.3
240.7
238.2
235.6
430.9
430.4
425.9
431.3
437.7
444.1
579.3
581.8
582.4
1010.6
1019.5
1026.5
360.8
362.3
365.6
174.7
174.9
174.0
535.4
537.3
539.6
1989-JAN.
FEB.
MAR.
348.3
342.5
340.1
146.8
142.9
140.2
495.2
485.3
480.3
189.3
188.2
187.8
233.6
230.5
230.7
422.8
418.7
418.5
453.0
462.8
473.0
588.5
591.6
592.0
1041.6
1054.4
1065.0
370.3
378.1
386.9
174.9
174.3
173.2
545.2
552.4
560.1
336.2
135.0
471.2
186.1
227.9
414.0
483.5
597.9
1081.4
390.3
173.7
564.0
341.0
340.6
338.8
141.1
140.2
139.2
482.1
480.8
477.9
188.5
187.3
187.3
231.0
230.8
230.2
419.5
418.1
417.4
471.0
473.7
476.0
591.8
591.4
591.4
1062.8
1065.1
1067.4
386.3
387.2
389.3
173.3
173.0
173.3
559.6
560.2
562.5
339.7
341.0
338.8
333.1
138.5
137.9
135.7
133.0
478.1
478.9
474.5
466.1
188.0
188.3
186.4
184.6
231.6
231.3
228.7
225.2
419.6
419.6
415.1
409.8
477.9
481.1
483.5
485.3
594.5
596.5
597.8
599.0
1072.4
1077.6
1081.2
1084.3
389.6
391.0
389.8
390.5
173.1
173.6
173.2
173.7
562.6
564.6
563.0
564.2
329.3
327.5
131.4
130.9
460.7
458.4
184.1
184.1
224.2
224.9
408.3
408.9
487.1
490.2
600.1
602.2
1087.2
1092.4
390.3
392.6
174.8
175.6
565.0
568.2
APR. P
Neek e n d i n g
1989-MAR. 13
20
27
APR.
3
10
17
24
MAY
8p
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 5-continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Term RPs1
InstitutionAt
At
only money commercial
thrift
market funds
banks
institutions
Date
Debt components 6
Non-M5 Components of L
Total
Term
Eurodollars2
Savings
bonds
Short-term
Treasury
securities3
Bankers
acceptances4
Commercial
paper5
Federal
debt
Non-Federal
debt
1987-DEC.
89.6
58.4
70.7
109.1
90.8
100.6
265.0
45.1
257.8
1955.6
6510.4
1988-JAN.
FEB.
MAR.
94.4
98.7
97.4
58.7
45.6
45.9
71.2
70.6
68.1
109.9
114.2
112.0
85.4
85.5
90.0
101.7
102.7
105.6
265.1
265.5
257.9
45.4
41.0
40.4
272.5
275.8
280.5
1962.9
1975.7
1994.5
6546.7
6571.9
6417.0
APR.
MAY
JUNE
91.9
90.0
86.5
44,
47.
47.
69.8
75.9
76.4
114.7
121.0
124.5
89.1
91.8
95.1
104.6
105.4
105.9
262.5
260.0
254.7
40.9
41.1
41.0
285.0
500.8
505.8
2005.1
2006.9
2016.5
6469.5
6522.9
6575.8
JULY
AUG.
SEP.
84.8
84.0
85.7
46.
45.
42.
79.1
78.8
79.9
125.6
125.8
122.4
96.0
102.1
101.8
106.5
106.9
107.6
262.4
270.8
275.0
40.8
41.2
41.9
507.8
509.5
508.5
2024.1
2057.6
2056.6
6624.5
6669.9
6720.5
OCT.
NOV.
DEC.
84.6
87.4
87.6
42.
45.
40.
82.4
85.8
85.2
125.2
128.9
125.5
98.6
100.5
104.6
108.5
108.7
109.2
274.5
279.1
287.4
41.
40.
40.
515.1
520.0
552.5
2069.0
2090.0
2111.8
6769.0
6817.5
6870.4
1989-JAN.
FEB.
MAR.
89.5
89.6
87.6
40.9
45.2
47.5
85.9
84.7
85.2
126.8
129.9
152.5
99.2
98.6
105.9
110.1
111.0
111.7 p
286.4
284.2
287.0 p
40.2
59.8
40.5 p
559.4
546.5
550.5 p
2121.4
2155.6
2148.9 p
6915.8
6961.9
7017.5 p
87.7
45.9
85.0
150.9
100.8
1989-MAR. 15
20
27
87.7
87.5
87.5
46.0
46.5
51.7
85.
85.
85.
151 .5
151 . 8
156 . 9
102.7
106.7
105.2
5
10
17
24
87.5
87.9
87.9
87.5
45.
46.
46.
44.
84.7
84.6
84.8
85.1
150 . 6
151 . 5
150 . 8
129,. 7
104.2
99.7
99.1
100.5
87.9
89.5
46.
44.
85.8
86.2
151,. 7
150,. 4
102.6
102.5
APR. P
Neek e n d i n g
APR.
MAY
lp
8p
Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs. Includes a relatively small amount
of overniqht RPs at thrift institutions.
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
2.
world-wide and by all banking 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.
p--indicates preliminary data.
H.6 ( 5 0 8 )
Table 6
MEMORANDUM ITEMS
Billions of dollars, not seasonally adjusted
Demand deposits
at banks due to
Date
IRA and Keogh Accounts
U.S. government deposits
Time and savings
deposits due to
foreign banks
Foreign
Foreign
and official
commercial
official
institutions
banks
institutions
Demand
deposits at
commercial
banks
Balance
at
Federal
Reserve
Note balances
at depository
institutions
Total
cash
balance
Time and
savings
deposits
At
At
at commercial commercial
thrift
banks
banks
institutions
At
money
market
funds
Total
1987-DEC.
9.6
1.7
4.5
5.9
4.2
18.4
26.6
1.6
82.9
108.7
16.4
208.0
1988-JAN.
FEB.
MAR.
10.1
9.4
9.5
1.7
1.6
1.6
4.2
4.2
4.2
4.1
5.1
5.6
5.6
5.8
2.9
20.8
25.1
18.7
50.5
52.1
25.2
1.6
1.6
1.6
85.9
84.7
85.5
110.0
111.2
115.2
16.6
16.8
17.1
210.6
212.8
215.8
APR.
MAY
JUNE
9.1
9.2
9.6
1.9
1.7
1.8
5.5
5.5
4.5
5.1
7.2
4.1
16.4
27.1
16.7
26.8
57.5
25.0
1.6
1.6
1.7
87.5
88.8
89.4
115.4
116.5
117.7
18.0
18.6
18.4
220.7
225.9
225.5
JULY
AUG.
SEP.
10.0
9.5
9.6
1.9
1.7
1.6
5.4
5.0
4.1
5.9
5.2
7.4
18.6
8.9
20.4
25.9
15.1
52.0
1.7
1.6
1.5
90.2
91.2
91.8
119.0
119.5
120.5
18.5
18.7
18.7
227.7
229.4
251.0
OCT.
NOV.
DEC.
9.2
9.4
9.7
1.6
1.8
1.9
5.2
5.4
4.2
6.2
5.2
5.5
24.5
12.8
18.7
54.0
21.5
28.4
1.5
1.5
1.6
92.5
95.5
95.9
121.5
121.8
122.6
18.8
19.6
20.5
252.9
254.7
257.0
1989-JAN.
FEB.
MAR.
9.5
9.5
9.0
1.8
1.8
1.7
4.0
5.7
5.8
8.1
5.8
5.2
21.0
22.2
14.5
55.1
51.7
25.5
1.5
1.5
1.5
95.1
96.2
97.4
125.7
124.5
125.4
20.8 e
21.0 e
21.2 e
259.6
241.4
245.9
9.0
1.7
5.2
8.9
15.0
29.1
1.6
99.9
127.8 e
22.2 e
249.9 e
9.0
8.7
8.5
1.7
1.7
1.8
5.0
5.2
2.6
5.7
4.1
5.8
9.4
16.4
17.7
18.0
25.7
26.1
1.5
1.5
1.5
9.5
9.7
6.5
8.6
1.6
1.7
1.7
1.7
5.0
5.8
6.8
5.7
4.7
6.4
5.6
7.9
12.7
4.0
5.5
25.1
20.4
14.1
17.7
56.7
1.5
1.6
1.6
1.6
9.1
9.0
1.7
1.6
5.7
4.1
18.8
25.2
50.6
51.8
55.2
59.1
1.6
1.6
APR. p
4.5
4.5
4.2
4.1
Week ending
1989-MAR. 15
20
27
APR.
MAY
5
10
17
24
lp
8p
e—indicates estimated data,
p—indicates preliminary data.
H.6 (508)
Special Supplementary Table
Monthly Survey of Selected Deposits and Other Accounts:
March 29, 1989 and April 26, 19891
(not seasonally adjusted)
Insured Commercial Banks
Amount Outstanding ($mil)
Liability Categories
NOH accounts
2
Money market deposit accounts2
Savings deposits
3
March 29
April 26
Average Rate Paid ('/.)
March 29
Njmber of Issuing Banks
April 26
March 29
April 26
12,538
184,817
187,709
5.00
5.01
12,569
335,532
326,761
6.29
6.37
11,742
11,679
184,067
180,412
5.46
5.52
12,257
12,189
Interest-bearing time deposits
with balances of less than
$100,000 with original
maturities of: 4
7 to 31 days
7,639
7,304
7.50
7.49
7,937
8,071
32 to 91 days
30,190
30,151
8.16
8.28
11,759
11,713
144,910
145,351
8.66
8.77
12,636
12,582
92 to 182 days
183 to 1 year
141,339
149,070
8.97
9.07
12,560
12,491
Over 1 year to 2-1/2 years
112,728
118,540
8.99
9.04
12,204
12,139
2-1/2 years and over
133,573
133,868
8.84
8.86
12,246
12,171
All IRA/Keogh Plan deposits5
98,232
101,246
N.A.
N.A.
12,027
11,963
Retail repurchase agreements
1,821
1,506
7.94
7.80
1,811
1,738
FOIC-Insured Savings Banks
Amount Outstanding ($mil)
Liability Categories
2
March 29
April 26
Average Rate Paid ('/.)
Number of Issuing Banks
March 29
April 26
March 29
April 26
7,450
7,621
5.28
5.31
344
344
Money market deposit accounts2
28,297
27,062
6.62
6.90
380
381
Savings deposits3
41,639
40,688
5.54
5.57
392
393
NOH accounts
Interest-bearing time deposits
with balances of less than
$100,000 with original
maturities of: 4
7 to 31 days
245
254
8.25
8.45
113
111
32 to 91 days
4,640
4,838
9.08
9.42
329
329
24,844
24,774
9.29
9.59
378
378
183 to 1 year
33,538
35,356
9.34
9.51
382
383
Over 1 year to 2-1/2 years
24,938
25,433
9.28
9.48
360
361
2-1/2 years and over
24,460
23,516
9.30
9.34
378
378
All IRA/Keogh Plan deposits5
21,546
21,812
N.A.
N.A.
384
385
Retail repurchase agreements
39
46
8.60
8.95
15
16
92 to 182 days
NOTE: The lower panel of this table presents data for both mutual and FDIC-insured federal savings banks.
N.A. - Data not available.
1. Estimates are based on data collected by the Federal Reserve from a stratified random sample of about 490 commercial banks and 80 savings banks.
2. NOH and MMDA account rates are reported as simple annual rates.
3. Savings deposits exclude MMDAs. The savings deposit rates are reported as simple annual rates.
4. Hith the exception of the 7-31 and 32-91 day deposit rates, which are reported as simple annual rates, time
deposit rates are annual effective yields reflecting the method of compounding reported by the individual
institutions.
5. All IRA/Keogh Plan time deposits regardless of size, type of instrument in which held, or interest rate paid.
@FedFRASER