Full text of H.6 Money Stock Measures : May 18, 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 Date M ay 18, 20 00 M 11 M22 M33 DEBT4 Seasonally adjusted 1 9 9 8 -May June J ul y Aug. Sep. Oct. Nov. Dec. 1 07 6. 5 1077.9 1076.9 1073.1 1078.2 1084.7 1 093. 7 1097. 4 4175.0 4 20 0 . 3 4218.9 4 24 3 . 0 4285. 8 4327. 3 4364. 3 4397. 0 5638.3 5682. 6 5703.6 5762.2 5824. 4 5887.8 5945.2 5996.9 15641.4 15726. 8 1 5813. 1 15895.7 15972.9 16057.2 16150. 1 16229.8 1999-Jan. Feb. Mar. Apr. May June J ul y Aug. Sep. Oct. Nov. Dec. 1096.0 1094.3 1101.4 1107.2 1101.8 1100.2 1099.6 1 098. 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 16315.4 16406. 1 16522.9 16626.3 16699.3 16777.3 16858.5 16956. 1 17059.3 17147.6 17215.0 17314.2 2000-J a n . Feb. Mar. Apr. p 1121.1 1105.7 1111.6 1115.5 4675.7 4684.9 4 719. 9 4759. 4 6513.7 6528.8 6597.7 6636.1 17404.6 17476.4 17581.9 p Not seasonally adjusted 1 9 9 8 -May June July Aug. Sep. Oct. Nov. Dec. 1070.9 1075.3 1074.4 1069. 5 1070.9 1077.6 1 098. 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 15837.1 159 2 0 . 4 1 6 0 04 . 4 16123.8 1 62 2 6 . 7 1999-Jan. Feb. Mar. Apr. May June Jul y Aug. Sep. Oct. Nov. Dec. 1104.0 1085.2 1 097. 4 1113.5 1 096. 4 1098.3 1097.7 1093.5 1087.1 1095.1 1112.8 1148.3 4433.0 4443.0 4 481. 3 4 528. 3 4489.0 4 515. 3 4 538. 6 4560.1 4572. 7 4 590. 5 4626.6 4680.5 6043 .2 6091.3 6 115. 7 6160.0 6 137. 4 6 167. 7 6177.8 6 206. 5 6224.9 6282.4 6390.8 6504.4 1 62 9 6 . 9 1 63 7 1 . 6 1 65 0 2 . 6 1 6597. 1 16650.8 16727.2 16795.2 16897.7 17007.7 17095.5 17191.2 17312.6 2000-Jan. Feb. Mar. Apr. 1127.8 1097.2 1108.3 1124.2 4686.2 4 683. 0 4740. 7 4804.9 6530.0 6548.2 6631.0 6680.0 17390.6 17449.5 17564.8 p p Footnotes appear on the following page p preliminary Components may not add to totals due to rounding. 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 7.5 6.2 6 Months from Oct. 1999 TO Apr. 2000 2.6 6.7 1 0. 6 6.1 12 Months from Apr. 1999 TO Apr. 2000 0.7 6.0 8.4 6.4 -3.1 5.9 7.9 Thi rteen weeks ending May 8 , 2000 from t hi rt ee n weeks endi ng: Feb. 7, 2000 (13 weeks previous]1 Nov. May 1. M1 8, 1999 (26 weeks previous]1 1.9 5.8 10.3 10, 1999 (52 weeks previous]1 0.7 5.6 8.1 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 T ab le 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 automatic 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 summ ing currency, travelers checks, dem and deposits, and O C D s, each seasonally adjusted separately. Consists of M1 plus savings deposits (including m oney m arket deposit accounts), sm all-denomination time deposits (time deposits— including retail RPs— in am ounts of less than $ 1 0 0 ,0 0 0 ), and balances in retail money m arket mutual funds. Excludes individual retirement account (IRA) and Keogh balances at depository institutions and m oney market funds. S easonally adjusted M 2 is com puted by summ ing savings deposits, sm all-denomination time deposits, and retail m oney 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, R P 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 amounts held by depository institutions, the U.S. government, m oney funds, and foreign banks and official institutions. Seasonally adjusted M 3 is calculated by summ ing large time deposits, institutional money fund balances, RP liabilities, and Eurodollars, each seasonally adjusted separately and adding this result to seasonally adjusted M2. Debt: The debt aggregate is the outstanding credit m arket debt of the domestic nonfinancial sectors — the federal sector (U .S. governm ent, 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 he 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 market debt are m easured on a quarter-end basis and contain discontinuities. Note: Current and historical H .6 data are available each w ee k on the Federal Reserve Board's w eb 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 . H.6 (508) Table 3 MONEY STOCK MEASURES Billions of dollars Seasonally adjusted M1 Period ending M2 M3 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-F®b. 14 21 28 1117.7 1117.3 1117.1 1111.2 1107.6 1105.6 1 1 0 2. 3 1106.1 1107.1 4661. 7 4665.8 4669.9 4683.3 4683.4 4684.0 4679. 4 4 683. 9 4682.1 6479.7 6490.7 6501.5 6522.1 6526.3 6526.9 6520.3 6534.8 6527.6 Ma r . 6 13 20 27 1116. 8 1116.0 1115. 3 1113.6 1105.8 1105.3 1106.9 1108.6 110 7. 8 110 0 . 2 111 2. 3 1 11 4. 0 4674. 7 4679.6 4685. 3 4690.7 4685.6 4693.0 4705.0 4717.0 4697.1 4708.9 4731.9 4730.1 6514.6 6526.6 6535.7 6543.6 6538.0 6559. 4 6575. 4 6595.4 6569.2 6605.9 6598.9 6607 .4 Apr. 3 10 17 24 1112. 3 1111.2 1110.6 1111.0 1114. 2 1114. 9 1 114. 9 1117. 7 1 1 3 0. 4 1102.8 1 11 2 . 3 1 12 5. 4 4696.1 4702.0 4708.8 4 715. 8 4726.8 4736.6 4744.3 4755.4 4 736. 4 4748.1 4762.6 4774.6 6550.0 6559.8 6569.9 6579.7 6605.4 6610.7 6620.9 6630.5 6609.4 6627.1 6639.5 6646.0 1110.8 1109. 7 1 113. 2 1110. 9 1 11 2. 3 1 09 3 . 6 4 721. 9 4 725. 6 4761.0 4758.9 4758.5 4739.8 6588.5 6597.2 6638.0 6640.7 6639.5 6637.8 May IP 8p Not seasonally adjusted 2000-F«b. 14 21 28 1128.4 1 127. 1 1125. 2 1102.9 1098.7 1096.5 109 1. 3 109 5. 3 1101.1 4674.7 4 678. 9 4682.7 4673.8 4676.7 4682.4 4684.1 4 676. 6 4672.0 6503.0 6514.6 6525.4 6528. 7 6538.2 6546. 9 6550.7 6547.5 6541.5 Mar. 6 13 20 27 1124.1 1122. 0 1119. 0 1114. 2 1098.2 1099.4 1102.3 1104.6 1 10 5. 2 1 09 5. 9 110 6. 8 111 0. 5 4687.3 4692. 4 4 697. 4 4701.1 4690.0 4703.5 4721.7 4736.5 4727. 3 4738. 2 4749. 2 4731. 4 6538.1 6549.9 6559.0 6566.5 6563. 4 6589. 3 6610.2 6630. 3 6613.9 6654.3 6630.9 6622.2 Apr. 3 10 17 24 1109.8 1108.2 1108.4 1 109. 6 1113. 7 1118. 4 1123.4 1127. 7 114 1 . 6 1 11 4 . 7 1 12 6 . 7 1 1 2 7. 7 4706.8 4715.9 4726.7 4737.0 4750.9 4774.0 4797.2 4813.9 4784.6 4830.7 4841.9 4798.4 6574.2 6587.3 6600.4 6612.4 6 639. 4 6654.1 6 675. 7 6686.5 6650.1 6713.2 6717.1 6665.4 1109.9 1109. 4 1120. 8 1 115. 0 1114.2 1091.2 4743.6 4746.5 4801.6 4777.6 4735.4 4734.5 6620.8 6627.4 6677.8 6657.9 6615.5 6633.4 May IP 8p 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. Components 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 Currency1 At commercial banks4 At thrift institutions5 145.1 105.2 250.3 to Total 459.5 379.3 1999-Jan. Fob. Mar. 463.0 467.4 471.5 8.2 8.1 8.2 374.0 371.3 371.9 147.0 142.8 144.2 103.9 104.6 1 05.5 250.8 247.5 249.7 Apr. May June 475.6 480.0 483.5 8.2 8.3 8.8 371.6 366.1 360.8 146.1 142.2 142.0 105.8 105.2 105.1 251.8 247.4 247.2 July Aug. Sep. 487.3 491.2 495.3 9.1 8.9 8.7 360.2 356.6 351.1 138.0 136.9 136.5 104.9 105.1 104.4 242.9 242.0 240.8 Oct. Nov. Dec. 499.3 504.3 515.6 8.4 8.2 8.3 353 . 1 355 .7 355 .9 136.4 137.6 141.3 103.9 103.6 102.7 240.3 241.2 244.0 2000-Jan. Feb. Mar. 524.3 518.2 517.1 8.2 8.1 8.2 345.5 338.3 343.0 141.6 137.3 136.7 101.6 103.8 106.7 243.1 241.0 243.3 518.0 8.2 341.3 139.9 108.1 248.0 516.7 517.0 517.5 8.2 8.2 8.2 335.6 344 .5 344 .4 133.6 136.2 137.6 106.1 106.4 106.3 239 .8 242.6 243.9 517.7 517.8 518.1 518.6 8.3 8.2 8.2 8.1 353 .7 331.2 340.3 347.0 142.5 136.4 138.5 143.6 108.3 109.3 107.3 108.0 250.7 245 .6 245.8 251.7 517.9 518.0 8.1 8.1 339 .6 324.5 139.0 134.3 107.7 108.8 246.7 243.1 p Week endina 2000-Mar. 13 20 27 Apr. May 4. 5. Demand deposits3 1998-Dec. Apr. 1. 2. 3. Travelers checks2 00 Date 3 10 17 24 Ip 8p e 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 comm 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 TS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. Consists of N O W and A TS 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 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 3 25.6 951.7 749.4 3299.6 1999-Jan. Feb. Mar . 1198. 6 1212.6 1217.3 419.2 426.0 429.9 161 7. 7 1 63 8. 6 1 64 7 . 2 6 22.6 618.6 6 16.9 3 24 . 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 1 252. 2 431.5 442.0 447.7 166 2. 4 1 68 4. 3 1699.9 6 16.0 616.2 616.5 319.3 317.7 315.0 935.2 933.9 931.5 785.6 793.0 799.4 3383.1 3411.3 3430.8 J uly Aug. Sep. 1 264. 3 1274.1 1 285. 8 453 .7 455.6 455 .7 1718.0 1 72 9 . 7 1 74 1 . 5 617.4 6 19.0 622.1 314.2 3 14.6 315.6 931.6 933.5 937.7 803.5 808.1 813.9 3453.1 3471.3 3493.1 Oct. Nov. Dec. 1289.8 1289.1 1285.8 453.4 451.7 448.7 1743.2 1740.9 1734.5 6 25.5 630.2 634.5 316.7 3 18.9 320.6 942.2 949.0 955.0 818.7 825.0 838.9 3504.1 3514.9 3528.4 2000-Jan. Feb. Mar. 1 288. 3 1301.9 1308.6 447.3 449.9 452.7 1 73 5 . 7 1 75 1 . 7 1761.3 638.5 643.6 648.7 322.8 3 23.2 323.9 961.3 966.8 972.5 857.7 860.6 874.5 3554.6 3579.2 3608.3 1 324. 7 449.7 1 77 4 . 4 657 .9 323.3 981.2 888.3 3643.9 1315.5 ' 1312.6 1305.5 450.8 454 .0 456.9 1766.3 1766.6 1 76 2. 4 648.0 6 49.3 649.5 323.3 3 23.9 324.6 971.2 973.2 974.1 871.2 879.8 879.6 3608.7 3619.6 3616.1 1294 .2 1326.6 1331.1 1 328. 7 450.4 448.9 448.5 449.2 1744.6 1 77 5 . 5 1779.6 1777.9 652.4 656.3 657.7 659.0 322.9 322.3 323.0 323 .8 975.3 978.6 980.7 982.8 886.1 891.2 890.0 888.4 3606 . 0 3645.3 3650.3 3649.2 1324.1 1328.1 453.8 452.2 1777.9 1780.2 660.2 661.4 3 24.4 325.2 984.7 986.5 883.6 879.4 3646.2 3646.1 Apr. p Week endina 2000-Mar. 13 20 27 Apr. May 1. 2. At thrift institutions Small-denomination time deposits2 3 10 17 24 lp 8p Savings deposits include m oney m arket deposit accounts. Sm all-denom ination time deposits-—including retail RPs-—are those issued in am ounts of less than $ 1 0 0 ,0 0 0 . 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 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 3 750. 8 12479.1 199 9-Jan. Feb. Mar. 523.3 533.2 535.9 541.4 537.8 534.5 90.3 90.0 89.6 631 . 7 627.8 624.1 300.6 315.1 3 05 . 7 150.7 154.1 15 8 . 7 1606.4 1 630. 3 1 624. 3 3742.7 3723.7 3723. 9 12572.7 12682.4 12799.0 Apr. May Juno 544.4 550.1 553.9 537 . 1 537.2 535.9 89.4 88.6 88.9 626.5 625.8 624.8 300.9 305.0 312.8 161.5 1 62 . 3 164.8 1 633. 4 1643.2 1656.3 3 71 8 . 6 3 70 2 . 8 3 703. 6 12907.8 12996.5 13073.6 J uly Aug. Sop. 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 3 13 . 3 3 13 . 5 163.0 158.0 155.8 1658.1 1658.5 1665.5 3708. 0 3711.0 3698.1 13150.6 13245.1 13361.2 Oct. Nov. Doc. 577.7 592.1 607 .4 562.4 587.1 6 10.5 89 . 5 91.0 91.4 651.9 678.0 701.9 313.4 321.5 334.7 154.7 163.4 1 73.1 1697.7 1755.0 1817.1 3680. 2 3656. 9 3659. 5 13467 .3 13558.1 13654.7 2000-Jan. Feb. Mar. 623.5 617.5 640.7 614.8 616.0 620.1 94.4 95.1 95.3 709.2 711.1 7 15 . 4 329.4 343.2 339.5 175.8 172.1 182.2 1838.0 1843.9 1877.8 3646.2 3609. 5 3618.8 p 13758.4 13867.0 13963.1 p 640.0 633.2 94.8 728.0 334.4 174.3 1876.7 645.2 639.6 643.1 6 19.9 619.1 620.3 95.2 95.4 95.3 715.1 714.5 715.5 349.2 332.6 338.2 187 .5 180.3 180.4 1897.0 1867.0 1877.3 6 44.7 639.2 643.2 637.7 629.7 636.2 633 . 1 630.8 9 5. 3 95.1 95.2 94 .7 725.1 731.3 728.3 725.4 326.9 333.6 333.3 335.0 176.4 174.8 172.0 173.3 1873.0 1879.0 1876.9 1871.4 637 .5 644.4 633 .8 643.6 93.8 93.7 727.6 737.3 339.4 339.5 176.5 176.8 1880.9 1898.0 Apr. May 5. At commercial banks2 Eurodollars4 518.4 p Week ending 2000-Mar. 13 20 27 3. 4. RPs3 1998-Dec. Apr. 1. 2. Debt components5 Large-denomination time deposits1 3 10 17 24 lp 8p Large-denom ination time deposits are those issued in amounts of $ 1 0 0 ,0 0 0 or more, excluding those booked at international banking facilities. Large-denom ination time deposits at comm ercial 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 monthly 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. • • + • • • • • # r r Page 7 H.6 (508) Table 7 NOT SEASONALLY ADJUSTED COMPONENTS OF M1 Billions of dollars Currency1 Date Travelers checks2 Other checkable deposits Demand deposits3 At commercial banks4 1998-Dec. 8.4 395.9 146.3 106.6 252.8 1999-Jan. Feb. Mar. 462.4 466.4 471.2 8.3 8.3 8.3 379.2 364.3 367.2 149.3 142.7 144.8 104.7 103.5 105.9 254 .0 246.1 250.7 Apr. May June 475.7 479.7 483.0 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 8.7 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 5 21.3 8.4 8.3 8.4 3 50 . 4 359.0 3 71.9 135.0 137.0 142.3 102.9 103.4 104.3 237 .8 240.4 246 .7 20 0 0-Jan. Feb. Mar. 523.0 517.3 517 .2 8.4 8.3 8.3 3 50.2 331.9 338.5 14 3 . 7 137.1 137.2 102.5 102.7 107.1 246.2 239.7 244 .3 p 518.4 8.3 3 43.8 1 42 . 7 111.0 253.7 13 20 27 517 . 5 517.3 516.7 8.3 8.3 8.3 330.9 338.8 339.9 133.1 136.3 139.2 106.1 106.2 106.2 239.2 242.5 245.4 3 10 17 24 517.4 519.9 518.5 517.9 8.4 8.3 8.3 8.3 359.1 335.8 346.3 344.2 145.3 138.5 142.1 147.1 111.5 112.2 111.5 110.1 256 . 8 250.7 253 .5 257.3 516.9 519.5 8.3 8.2 338.7 3 19.7 1 40 . 9 134.1 109.4 109.6 250.3 243.7 Week endina 2000-Mar. Apr. May 4. 5. Total 464.1 Apr. 1. 2. 3. At thrift institutions5 lp 8p e 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. D em 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 TS 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 Total Non-M1 M2 1998-Dec. 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 4 31.0 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 4 36.4 440.7 448.1 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 J uly Aug. Sep. 1265. 7 1 272. 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 3485.6 Oct. Nov. Dec. 1285.2 1 288. 8 1 288. 6 451.7 451.6 449.7 1 737. 0 1740.3 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 3495.4 3513.7 3532.2 2000-Jan. Feb. Ma r . 1 286. 5 1294.5 1311.3 446.7 447.3 453.6 1733.2 1741.8 1765. 0 640.1 646.1 650.7 323.6 324.5 324.9 963.7 970.6 975.5 861.5 873.4 891.9 3558.4 3585.8 3632.4 1341.0 455.2 1796. 3 658.6 323.6 982.2 902.2 3680.6 1324.8 ' 1314. 7 1294.2 454.0 454 .7 452.9 1778. 8 1769. 3 1747.1 650.2 651.2 651.0 324 .4 324 .9 325.3 974.6 976.0 976.3 888.9 897.0 897.5 3642.3 3642.4 3621.0 1306.7 1359.8 1362.3 1335. 7 454.7 460.1 459.0 451.5 1761. 4 1819.9 1821.4 1787. 2 654.3 658 .0 658.6 659.0 323.8 323 . 1 323 .4 323 .8 978.1 981.1 982.0 982.8 903.5 915.0 911.7 900.7 3643.0 3716.0 3715.1 3670.7 1311.1 1334 .9 449.3 454.5 1760. 4 1789. 4 659.5 660.1 324 . 1 324 .6 983.6 984.7 877.2 869.3 3621.2 3643.4 Apr. p Week ending 2000-Mar. 13 20 27 Apr. May 1. 2. At thrift institutions Retail money funds 3 10 17 24 lp 8p Savings deposits include m oney m arket deposit accounts. Sm all-denom ination tim e deposits— including retail RPs— are those issued in am ounts of less than $1 00 ,0 00 . All IRA and Keogh account balances at com m ercial banks and thrifts are subtracted from small tim e 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 6 26 . 4 248.6 46.9 2 95.4 154.5 1604.3 3 75 4. 9 12471.8 1999-Jan. Feb. Mar. 534.8 552.4 544.1 533.2 533.9 534.6 89.0 89.4 89.7 622.2 623.3 624.3 252.9 265.7 2 52.9 48.0 51.0 54.7 300.9 316.6 307.6 152.4 155.9 158.4 1610.2 1648.2 1 634. 4 3 7 3 6. 6 3 72 1 . 8 3 7 4 1. 2 1 25 6 0 . 3 12649.8 12761.4 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. 9 300.1 309.0 313.9 161.3 163.9 164.7 1631.7 1 648. 4 1652.4 3717.1 3 67 4. 2 366 2 . 8 12880.0 12976.6 13064.4 J uly Aug. Sep. 540.5 555.0 553.2 538.2 532.4 542.1 88.8 89.3 89.9 627 .0 621.8 632.0 248.5 249.2 246.8 62.2 63.6 65.8 310.8 312.9 312.6 160.9 156.9 154.3 1639.2 1646.5 1652.2 3652.2 366 5 . 8 365 5 . 8 13143.0 13231.9 13351.9 Oct. Nov. Dec. 570.9 595.1 618.9 566.8 590.1 6 08.6 90.2 91.4 91.1 656 .9 681.5 699 .8 245.2 259.6 266.5 6 5. 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 64 1. 7 3663.1 13459.9 13549.5 13649.5 2000-Jan. Feb. Ma r . 638.2 640.6 650.5 605.9 611.7 6 20.3 93.0 94.4 95.3 698.9 706.1 715.6 265.2 282.7 282.3 64.5 6 2. 5 59.9 3 29.7 345.1 342.2 177.0 173.5 182.1 1843.8 1865.3 1890.3 3639.0 3 60 5 . 4 3 63 3 . 6 p 13751.6 13844.1 13931. 1 p 640.2 632.9 94.8 727.7 273.3 59.7 333.0 174 .2 1875.1 6 59.3 649.0 651.9 620.8 6 19.9 620.6 95.3 95.6 95.3 716.1 715.4 715.9 294.2 277.5 279.9 59.5 59.7 6 0. 6 353.7 337.2 3 40.4 187.0 180.1 182.5 1916.1 1881.7 1890.8 641.1 645.3 646.9 635.6 626.6 635.1 632.2 6 30.7 94.8 94.9 95.1 94.7 721.4 730.0 727 .2 725.4 265.6 272.1 272.3 272.4 60.7 60.7 58.8 5 9. 8 326.3 332.7 331.0 332.2 176.6 1 74.4 170.0 1 73.7 1865.5 1882.5 1875.2 1867.0 631.0 637.6 6 36.7 648.6 94.3 94.4 730.9 743.0 280.7 281.5 59.2 60.7 339.9 342.3 178.3 176.0 1880.1 1898.9 Apr. May 5. Eurodollars4 527.9 p Week endina 2000-Mar. 13 20 27 3. 4. RPs3 1998-Dec. Apr. 1. 2. Large-denomination time deposits1 3 10 17 24 lp 8p Large-denom ination time deposits are those issued in amounts of $ 1 0 0 ,0 0 0 or more, excluding those booked at international banking facilities. Large-denom ination time deposits at comm ercial 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 an ad a, excluding those held by depository institutions and by money funds. Debt data are on a monthly averag e basis, derived by averaging adjacent end-of-m onth levels, and have been adjusted to remove discontinuities. p preliminary Components may not add to totals due to rounding. 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 balance IRA and Keogh Accounts Time and savings deposits at commercial banks At commercial banks At thrift institutions At money market funds Total 1998-Dec. 8.9 1.9 1 7. 5 1. 7 5.9 24. 4 3 2. 0 4.5 1 51 . 5 97.4 1 17 . 3 366.1 1999-J a n . Feb. Ma r . 8.8 8.7 8.7 1.8 1.8 1. 7 1 8. 2 18. 6 1 9. 1 2.9 1. 4 1.5 6.6 4.8 5.5 30. 8 6.9 12.1 40.2 13. 0 1 9. 1 4.6 4.3 4.0 1 51. 5 151 . 6 151. 7 97.0 96.8 96.5 1 19 . 2 1 21 . 0 1 22 . 8 3 67. 7 369 . 3 3 71 . 0 Apr. May June 8.6 8.5 8.3 1.6 1.6 1.6 1 9. 1 18. 6 18 . 1 4.6 1.4 2.6 6. 4 5.4 5.9 16. 5 2 8. 4 2 4. 0 2 7. 5 35. 3 32. 5 3.9 4.0 4.0 151. 6 151 . 3 151.1 96 . 4 96.3 96.3 1 24 . 3 1 25. 4 126 . 5 372.3 373.1 37 3 . 8 J uly Aug. Sep. 8.2 8.2 8.2 1.6 1.4 1.3 18. 7 20. 7 2 2. 6 1. 3 1.3 2.5 5.2 5.1 6. 4 2 7. 2 9. 2 2 9. 3 33. 7 15. 6 3 8. 2 4.1 4.3 4.5 1 50 . 8 150. 7 150 . 6 96.2 96.0 95.8 1 28 . 8 1 32 . 6 136 . 4 3 75 . 8 3 79 . 3 382 . 7 Oct. Nov. Dec. 8.5 9.1 9.7 1.3 1.4 1.4 2 4. 8 2 7. 4 3 0. 0 1. 4 1.2 1.5 5.2 5.1 8.3 2 8. 6 8. 0 3 9. 0 3 5. 2 14. 3 4 8. 7 4.7 5.0 5.3 150.1 1 49. 3 148 . 5 95.6 95.3 95.1 139.6 e 142.3 e 1 45 . 0 e 385.3 e 386.9 e 388.6 e 10.0 e 10.0 e 10.0 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 5. 3 5. 3 52. 5 2 4. 3 14.1 63. 5 30. 8 2 0. 8 5.2 e 5.0 e 4.7 e 1 48 . 3 e 1 48 . 5 e 1 48 . 7 e 94.9 e 94.9 e 94.9 e 147.3 e 149.3 e 151.3 e 390.5 e 392.8 e 3 95 . 0 e 10.0 e 1.5 e 23.6 e 5.0 8. 4 4 0. 0 53. 4 4.6 e 149.0 e 94.9 e 153.1 e 397.0 e Week endina 2000-Mar. 13 20 27 1.3 1.6 1.1 5.2 6.0 5.1 7.8 16. 4 10. 7 14. 2 2 4. 0 16. 9 3 10 17 24 1.4 1.8 4.0 8.8 4.7 5. 8 6.2 7.9 3 2. 9 17. 4 32. 3 42.3 39. 0 2 5. 0 4 2. 5 59. 0 7.3 1.5 1 6. 7 8.3 74.2 73.2 9 8. 2 83. 0 2000-Jan. Feb. Mar. Apr. Apr. May P IP 8p 1. Source: Daily Treasury statem ent, e estim ated p preliminary Com ponents may not add to totals due to rounding.