Full text of H.6 Money Stock Measures : May 19, 1994

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

F o r release at 4 : 3 0 p . m . E a s t e r n T i m e

Billions of dollars

M A Y 19, 1 9 9 4

M11

Date

M22

M33

L4

DEBT5

Seasonally adjusted
1992-MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

952.7
954.7
964.2
976.1
989.2
1004.2
1016.6
1024.8

3482.1
3477.8
3480.7
3489.4
3496.6
3507.5
3510.5
3509.0

4189.9
4183.7
4186.0
4196.7
4200.4
4196.9
4194.1
4183.0

5021.7
5026.9
5026.6
5041.0
5056.7
5058.5
5065.3
5057.1

1993-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1033.0
1035.4
1040.2
1047.1
1067.7
1076.6
1086.8
1095.3
1105.1
1113.4
1122.4
1128.4

3502.8
3494.2
3494.8
3498.0
3521.9
3528.7
3533.6
3535.7
3543.6
3545.1
3556.2
3563.1

4162.4
4156.0
4154.6
4162.0
4187.6
4187.8
4186.8
4186.5
4195.2
4200.6
4212.9
4225.3

5040.0
5035.5
5036.4
5053.8
5086.8
5087.3
5083.6
5092.4
5085.5
5093.3
5104.1
5122.8

11758.5
11782.3
11822.2
11869.0
11914.9
11979.7
12037.7
12092.8
12145.7
12179.3
12237.4
12309.6

19 9 4 - J A N .
FEB.
MAR.
APR. p

1133.5
1138.6
1142.4
1141.2

3569.0
3564.7
3579.4
3587.5

4229.5
4203.1
4212.8
4222 . 1

5143.4
5134.5
5142.6 p

12354.4
12400.2
12460.6 p

11381.9
11435.0
11494.3
11553.6
11598.1
11626.0
11665.9
11721.5

Not seasonally adjusted
1992-MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

9 4 3 ,. 9
9 5 2 .. 0
9 6 2 . .9
9 7 1 ..0
9 8 3 .. 6
1 0 0 1 .. 8
1 0 2 2 . .4
1 0 4 6 . .7

3467 .4
3473 .4
3 4 7 8 .. 1
3 4 8 4 .. 1
3 4 8 6 . .7
3 5 0 4 .. 6
3 5 1 7 .. 4
3 5 2 7 .. 6

4 1 8 0 .. 2
4 1 7 9 .. 8
4 1 8 0 . .3
4 1 9 5 .. 5
4 1 9 0 .. 0
4 1 9 0 .. 5
4 2 0 3 . .6
4 1 9 8 . ,2

5001 . 1
5016 .7
5 0 1 2 ,. 9
5032 . 9
5 0 4 5 ..2
5 0 5 0 . .3
5 0 8 3 .. 6
5 0 8 7 .. 6

11348 .7
11400 .0
11452 .0
11512 . 6
11564 . 9
11599 .4
11658 .2
1 1 7 2 3 . .3

1993-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1 0 4 1 ., 0
1 0 2 3 ., 0
1 0 3 1 .. 6
1058. 7
1058. 1
1073 . 2
1 0 8 4 . .6
1 0 8 8 ..8
1 0 9 9 .. 1
1 1 1 1 .. 8
1129 . 6
1 1 5 3 ,. 8

3 5 0 8 . .3
3 4 8 4 ..2
3 4 9 5 . .8
3 5 1 5 . ,2
3 5 0 7 . .3
3 5 2 4 .. 4
3 5 2 9 ..8
3 5 2 8 .. 6
3 5 3 3 ..2
3543 . 1
3 5 6 4 . .9
3 5 8 5 .7

4 1 6 2 . .9
4 1 4 9 .,4
4 1 5 7 ..3
4177 . 2
4178 . 6
4 1 8 4 .. 1
4 1 7 9 ..9
4 1 8 3 . ,2
4 1 8 4 . .4
4 1 9 5 .. 1
4 2 2 4 . .5
4 2 4 4 . .7

5 0 5 3 ..6
5 0 3 0 . .2
5 0 4 2 . .5
5 0 6 3 ..2
5 0 6 4 . .8
5 0 7 6 . .7
5 0 6 9 . .0
5 0 8 2 . .3
5 0 7 3 . .4
5 0 8 5 . .8
5 1 2 5 .2
5 1 5 7 ,. 5

1 1 7 4 5 . .0
1 1 7 5 7 . .3
1 1 7 9 8 . .6
1 1 8 4 1 . .7
1 1 8 8 3 . .9
1 1 9 4 6 . .2
1 1 9 9 7 . .8
1 2 0 5 3 . .9
1 2 1 1 2 . .2
1 2 1 4 9 . .3
1 2 2 2 4 . .3
1 2 3 0 9 , .6

19 9 4 - J A N .
FEB.
MAR.
APR.

1142
1124
1131
1153

3575
3552
3577
3604

4 2 3 0 .. 4
4 1 9 3 ..9
4 2 1 2 ,. 7
4237 .7

5157 .6
5126 . 1
5146 .4 p

1 2 3 4 0 .0
12374 .0
1 2 4 3 7 •3 p

p

.8
.7
.9
.2

.7
.6
.8
.8

'

Footnotes appear on the following p a g e
p

preliminary




Page 2
H.6 (508)
Table 2

MONEY STOCK AND DEBT MEASURES

Percent change at seasonally adjusted annual rates

3 Months

f r o m JAN.

1 9 9 4 TO A P R .

1994

6 Months

f r o m OCT.

1993

TO A P R .

1994

12 M o n t h s

f r o m APR.

1993

TO A P R .

1994

T h i r t e e n w e e k s e n d i n g MAY
9 , 19 9 4
f r o m t h i r t e e n weeks e n d i n g :
FEB.
7 , 1994 (13 weeks p r e v i o u s )
NOV.
MAY

1.

l I

DEBT1

M1

M2

M3

2.7

2.1

-0.7

4.9

5.0

2.4

1.0

5.2

9.0

2.6

1.4

5.4

4.2

1.8

-0.9

8,

19 9 3

(26 weeks p r e v i o u s )

6.2

2.1

0.8

10,

19 93

(52 weeks p r e v i o u s )

9.3

2.3

1.2

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, December 1993 to March 1994 September 1993 to March 1994
and March 1993 to March 1994, respectively.
'

Footnotes to Table 1:
1.

2.

3.

4.
5.

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 (NOW) and automatic transfer service (ATS)
accounts at depository institutions, credit union share draft accounts and demand deposits at thrift institutions. Seasonally adjusted M1 is calculated bv
summina
currency
1
a
travelers checks, demand deposits, and OCDs, each seasonally adjusted separately.
''
Consists of M1 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, savings deposits (including money market deposit accounts), small-denomination 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-M1 component
as a whole and
r
then adding this result to seasonally adjusted M1.
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 bv
U.S. residents at foreign branches of U S . banks worldwide 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 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 aadjusting
its non-M2 component as a whole and then adding this result to seasonally adjusted M2.
' uiu;,ll"»
Consists of M3 plus the nonbank public holdings of U.S. savings bonds, short-term Treasury securities, commercial paper and bankers acceptances net of monev 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

published levels of credit market debt are measured on a quarter-end basis and include discontinuities.




'

releases,

Page 3
H.6 (508)
Table 3

MONEY STOCK MEASURES

Billions of dollars
Seasonally adjusted
M1
Period ending
1994-FEB.

14

21
28
MAR.

7
14

21
28
APR.

4

11
18
25
MAY

2p
9P

13-week
average

4-week
average

1130.7
1132.0
1133.2

T T
1136.7
1137.4
1138.6

1134.3
1135.5
1136.6
1137.8

M2
week
average

M3

13-week
average

4-week
average

week
average

13-week
average

1139.0
1139.1
1140.6

3564.6
3565.0
3565.6

3567.7
3564.9
3564.7

3568.9
3559.9
3565.2

4222.6
4221.3
4219.9

4218.1
4209.5
4203.1

4207.9
4195.1
4197.7

1139.8
1140.4
1141.5
1143.0

1140.4
1141.6
1143.3
1146.7

3566.7
3568.0
3569.6
3571.2

3567.1
3570.2
3576.2
3581.0

3574.2
3581.4
3583.9
3584.6

4218.8
4218.0
4217.6
4216.8

4201.2
4203.2
4209.4
4214.1

4204.2
4215.6
4220.1
4216.6

1139.2
1140.3
1140.6
1140.6

1144.9
1145.4
1144.0
1141.4

1148.0
1143.7
1137.6
1136.4

3572.5
3574.7
3575.8
3576.7

3583.0
3586.4
3587.6
3587.1

3582.0
3595.2
3588.5
3582.6

4215.6
4215.3
4214.9
4214.0

4217.1
4219.7
4222.3
4222.4

4216.2
4225.9
4230.3
4217.1

1140.8
1141.3

1139.0
1138.6

1138.3
1141.9

3577.8
3579.6

3586.8
3584.9

3580.8
3587.5

4213.0
4213.1

4221.1
4217.8

4210.9
4213.0

4-week
average

week
average

Not seasonally adjusted
1994-FEB.

14

21
28
MAR.

7
14

21
28
APR.

4

11
18
25
MAY

2p
9p

1141.5
1141.5
1140.9

1123.8
1123.1
1124.7

1127.7
1120.7
1116.7

3573.4
3572.5
3572.0

3552.7
3550.3
3552.6

3559.3
3544.8
3543.9

4229.5
4226.7
4224.0

4203.4
4196.6
4193.9

4203.5
4181.4
4182.4

1140.3
1139.5
1137.6
1134.8

1126.8
1129.0
1130.9
1131.5

1142.0
1136.6
1128.2
1119.0

3571.2
3570.9
3570.4
3570.0

3557.7
3565.1
3573.1
3578.0

3582.8
3588.7
3576.8
3563.7

4221.4
4218.9
4216.9
4214.2

4195.1
4201.2
4209.7
4213.5

4213.2
4227.8
4215.4
4197.5

1133.7
1133.4
1134.4
1135.2

1135.7
1143.1
1152.1
1155.7

1158.8
1166.4
1164.2
1133.5

3570.4
3572.5
3574.9
3576.6

3583.4
3595.1
3606.6
3609.6

3604.2
3635.8
3622.7
3575.7

4213.4
4214.0
4214.8
4214.8

4218.2
4227.9
4239.6
4242.5

4232.2
4266.6
4262.0
4209.2

1136.9
1137.8

1149.2
1143.9

1132.8
1145.1

3579.1
3580.9

3600.5
3588.0

3567.7
3585.7

4215.2
4215.7

4234.0
4221.0

4198.0
4214.8

Note: Special caution should be taken in interpreting week-to-week changes in money supply data, which are highly volatile a n d subject to revision
p

preliminary data.




Page 4
H.6 (508)
Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Currency1

Date

7.

Other checkable deposits
At commercial
banks4

At thrift
institutions5

Nontransactions components
Total

In M26

In M3 only7

339. 6

280. 8

104. 1

3 8 4 . .9

2484. 3

674. 0

8. 0
8. 0
8. 0

341. 9
342. 7
344. 3

283. 5
2 8 3 . ,8
284. 9

105. 0
103. 9
103. 6

3 8 8 . .6
387 ..7
3 8 8 . .5

2469 . 8
2458. 8
2 4 5 4 . .6

659. 6
661. 8
659. 8

301. 8
304. 4
307 . 2

8. 1
8. 1
8. 0

349. 0
358. 8
362. 2

284. 2
2 9 0 . .3
292. 4

104. 1
106. 1
106. 8

3 8 8 . ,2
3 9 6 . .4
3 9 9 . ,2

2450. 9
2 4 5 4 .. 1
2452. 1

664. 0
665. 8
659. 1

JULY
AUG.
SEP.

309 . 7
3 1 2 .,4
3 1 5 . .4

7
7
7

.. 9
..8
., 8

366 . 4
3 7 0 . .9
3 7 5 ..4

2 9 4 . .8
2 9 5 . .9
2 9 7 . -8

1 0 8 . .0
1 0 8 . .3
108. 8

4 0 2 . .8
4 0 4 . .2
4 0 6 , .6

2 4 4 6 . .8
2 4 4 0 . .4
2 4 3 8 . .5

653. 3
6 5 0 . .8
6 5 1 . .6

OCT.
NOV.
DEC.

317 ..6
3 1 9 ..5
3 2 1 . .4

7 . 8
7 . 9
7 . 9

3 7 8 . .4
3 8 3 . .2
3 8 4 . .8

2 9 9 .. 1
3 0 0 . .8
3 0 2 ..6

1 1 0 . .4
1 1 1 . .0
1 1 1 . .7

4 0 9 , .5
4 1 1 .8
4 1 4 , .3

2 4 3 1 . .7
2433 .8
2 4 3 4 , .7

6 5 5 ..5
6 5 6 . .7
6 6 2 . .2

1994-JAN.
FEB.
MAR.

3 2 5 .2
3 2 9 ,.2
332 .4

7 ,. 9
7 .. 9
8.0

3 8 8 . .3
3 9 0 . .3
3 9 0 ..0

3 0 0 . .4
2 9 9 . .2
3 0 0 .. 0

1 1 1 . .6
1 1 2 ..0
1 1 2 . .0

412 .0
4 1 1 .2
4 1 1 .9

2 4 3 5 .5
2426 . 1
2437 .0

6 6 0 . .5
6 3 8 ..4
633 . 4

P

334 .7

8.1

3 8 8 .9

298 .4

1 1 1 .. 1

409 .4

2 4 4 6 .3

6 3 4 .. 6

1994-MAR.

14
21
28

3 3 1 .7
332 .3
334 .0

8 .0
8 .0
8 .1

390 .2
3 9 1 .0
3 9 1 .5

299 .5
2 9 9 .9
300 .7

1 1 2 ..3
1 1 2 .. 0
112 .4

4 1 1 .7
4 1 1 .9
413 . 1

2439 .8
2440 .6
2438 .0

634 . 1
636 .2
632 .0

APR.

4
11
18
25

333
334
334
335

8
8
8
8

393
391
386
386

301
298
297
296

.7
.5
.4
.5

1 1 0 .7
1 1 1 ,. 8
1 1 0 .9
1 1 0 ,. 4

412
410
408
406

2434
2451
2450
2446

634
630
641
634

298 .2
299 .9

1 1 1 , .2
1 1 1 .. 0

409 . 5
410 .9

292 . 2

19 9 3 - J A N .
FEB.
MAR.

294. 5
297. 0
299 . 3

APR.
MAY
JUNE

MAY

4.
5.
6.

Demand deposits3

8. 1

1992-DBC.

APR.

1.
2.
3.

Travelers checks2

2p
9p

.7
.0
.3
.3

336 .4
336 . 5

' I

.1
.1
. 1
.1

8 .1
8 .1 e

.8
.2
.9
.0

384 .3
386 .3

.4
.4
.4
.9

.0
.5
.8
.1

2442 .5
2445 .6

.3
.7
.8
.6

630 . 1
625 .5

Outstanding amount of U.S. dollar-denominated trave ers 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 banks and official
institutions, less cash items in the process of collection and Federal Reserve float.
Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations
Consists of NOW and ATS balances at thrifts, 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), savings deposits (including
money
market deposit
accounts)
and
a
1
v
1
small time deposits. This sum is seasonally adjusted as a whole.
Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overnioht RPs and
Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted as a whole.

estimated



preliminary

Page 5

H.6 (508)
Table 4 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Savings deposits 1
Date

Small-denomination time deposits 2

General
purpose and
broker/dealer
money
market funds

Institutiononly money
market funds

Large-denomination time deposits 3

At
commercial
banks

At
thrift
institutions

Total

At
commercial
banks

At
thrift
institutions

1992-DEC.

754.6

429.0

1183.6

508.7

361.8

870.5

352.0

201.5

292.8

67.5

360.3

1993-JAN.
FEB.
MAR.

754.1
757.2
757.2

429.8
426.5
425.3

1183.8
1183.7
1182.4

504.2
504.8
501.7

356.7
349.0
345.1

860.8
853.8
846.8

350.3
345.3
345.9

196.6
198.0
197.7

285.7
284.1
279.8

67.5
66.0
65.1

353.2
350.1
344.8

APR.
HAY
JUNE

759.5
766.7
771.0

426.0
428.4
429.4

1185.5
1195.1
1200.4

496.6
491.9
487.5

342.8
340.5
336.3

839 . 4
832.4
823.9

345.9
348.5
347.5

196.3
198.0
194.7

283.6
283.6
280.9

65.3
64.7
64.4

348.8
348.2
345.3

JULY
AUG.
SEP.

771.7
775.4
778.0

430.4
430.5
430.4

1202.1
1205.9
1208.4

483.0
478.6
475.4

331.4
327.6
324.0

814.4
806.2
799.4

346.6
345.5
345.0

192.6
190.1
190.8

277.4
277.8
276.6

64.5
63.9
63.8

341.8
341.6
340.4

OCT.
NOV.
DEC.

778.4
782.4
785.3

430.4
429.5
430.2

1208.8
1211.9
1215.5

472.4
469.5
468.5

321.0
318.5
314.3

793 .5
788.0
782.8

344.4
347.0
348.8

194.3
194.8
197.0

277.9
275.9
277.0

63.7
63.5
61.8

341.6
339.4
338.8

1994-JAN.
FEB.
MAR.

790.1
791.1
790.3

430.2
429.7
431.6

1220.3
1220.9
1221.9

465.5
463.9
462.6

311.7
308.4
307.0

777.2
772.4
769.6

347.8
343.7
348.6

192.7
176.9
177.4

279.0
273.4
271.4

62.0
61.7
60.9

341.0
335.1
332.3

787.8

432.3

1220.2

461.8

306.0

767.8

361.9

177.0

269.6

61.2

330.8

APR. p

Total

At
commercial
banks 4

At
thrift
institutions

Total

ending
1994-MAR.

14
21
28

792.9
790.2
788.9

431.4
432.0
432.3

1224.2
1222.2
1221.2

462.7
462.8
462.3

307.2
307.1
306.7

769.9
769.8
769.0

349.2
349.7
348.3

174.9
180.9
175.8

271.8
272.8
271.2

60.8
60.9
60.8

332.6
333.7
332.0

APR.

4
11
18
25

790.3
789.8
789.5
784.9

432.8
431.8
432.6
432.1

1223.1
1221.6
1222.0
1217.0

461.5
461.6
461.6
461.6

306.5
306.4
306.2
305.5

767.9
768.0
767.8
767.1

351.1
360.2
364.0
366.4

181.8
175.0
183.2
173.4

264.1
267.7
269.4
272.4

61.2
61.2
61.3
61.2

325.3
329.0
330.7
333.6

784.8
784.4

432.8
431.9

1217.6
1216.4

463.0
463.6

305.3
305.2

768.3
768.7

363.8
366.1

172.4
168.5

273.2
272.1

61.0
60.1

334.2
332.2

MAY

1.
2.

2p
9p

Savings deposits include money market deposit accounts.
Small-denomination
RPS are

thrills are

~

'h°Se '5SUed "

am0Un,S

less ,han

*« ™ and Keogh account balances at commercial banks and
a n d f o r e i g n b a n k s a n d official

p

preliminary




Page 6
H.6 (508)
Table 4 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Debt components 4

Non-M3 Components of L
Date
Savings bonds

1.

Short-term Treasury
securities1

Bankers acceptances 2

Commercial paper3

Federal debt

Non-Federal debt

1992-DEC.

156.6

332 . 5

20.6

364.3

3068.4

8653.1

19 93-JAN.
FEB.
MAR.

158.7
160.8
162.4

337.3
339 .3
338.4

20.6
20.0
19.4

361.0
359.4
361.5

3078.7
3090.8
3121.1

8679.8
8691.5
8701.1

APR.
MAY
JUNE

163.6
164.7
165.9

341.8
343.4
344.2

19.3
19.2
18.5

367.1
371.8
370.9

3149.0
3175.8
3208.1

8720.0
8739.1
8771.6

JULY
AUG.
SEP -

167.1
168.2
169.2

341.9
341.7
326.3

17.4
16.5
16.4

370.4
379.5
378.4

3227.8
3252.2
3271.3

8809 .9
8840.7
8874.4

OCT .
NOV.
DEC.

170.1
170.8
171.7

321.5
321.0
324 . 3

16.4
15.3
14.7

384.7
384.1
386.8

3266.4
3291.4
3327.9

8912.9
8946.0
8981.8

19 9 4-JAN.
FEB.
MAR.

172.7
173 . 4
174.1

334.6
339.7
340.0

15.0
15.3
15.5

391.6
403 . 0
400.1

3335.6
3349.3
3374.7

9018.8
9050.9
9086.0

2
3
4.

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, Fec'aral 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

preliminary




Page 7
H 6 (508)

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Nontransactions c o m p o n e n t s

Other checkable deposits
Date

Demand
deposits 3

Travelers
checks 2

Currency 1

At commercial
banks 4

At thrift
institutions 5

O v e r n i g h t RPs 8

Ov«njpM.

Total

In M2 6

In M3 only 7

2480.9

670.5

59 . 3

21.3

7.8

355.1

284.3

104.6

19 9 2 - D E C .

295.0

388.9

19 9 3 - J A N .
FEB.
MAR.

293 . 5
295.3
297 .9

7.8
7.7
7.8

345 . 9
334.3
336.5

289 . 4
284.2
286.5

104.4
101.5
103.0

393.8
385.7
389.5

2467.3
2461.2
2464.1

654.6
665.2
661.5

60.0
60.7
62 . 7

17.8
17.0
16.1

APR.
MAY
JUNE

301.3
304.4
307.4

7.8
7.9
8.2

350.5
352.0
359 .6

291.9
287 . 6
290.6

107.3
106.2
107.5

399 . 2
393 . 8
398.0

2456.4
2449.2
2451.2

662.1
671.2
659 .7

62.5
61.7
64.8

14.7
13.5
13.7

JULY
AUG.
SEP .

311.0
312.8
314.8

8.4
8.4
8.2

365 .9
367.9
373 . 1

290.9
292.1
295.0

108.5
107 . 7
108.0

399.3
399 .7
403.0

2445.2
2439.8
2434.1

650.1
654.6
651.2

67 . 7
67 . 4
70.4

13.5
14.7
14.9

OCT.
NOV.
DEC.

317.3
319.8
324.9

8.0
7.7
7.6

381.1
391.1
402.6

295.6
299 .6
306.3

109.8
111.4
112.4

405.3
410.9
418.6

2431.3
2435.3
2431.9

652.0
659 .6
659.0

70.8
71.7
72.6

17.2
17.4
17.8

324 . 0
327.3
330.7

7.7
7.7
7.8

393.1
380.6
380.7

306.8
299.6
301.6

111.2
109.5
111.3

417.9
409.1
412.9

2432.9
2427.9
2445.8

654.7
641.3
635.0

75.4
74.2
77 . 6

17.9
16.6
18.2

334 .4

7.8

390.3

306.4

114.4

420.8

2451.6

632.9

77 . 0

16 . 2

Wftflk e n d i n g
1 9 9 4 - M A R . 14
21
28

330.6
330.8
330.8

7.7
7.8
7.8

383 .9
378.4
374.0

302.6
300.6
297 .7

111.8
110.6
108.7

414.4
411.2
406.4

2452.1
2448.7
2444.7

639.2
638.6
633 .8

80.2
78.5
77 .3

17.9
18.7
18.9

4
11
18
25

333.8
335.3
334.1
333.4

7.8
7.8
7.8
7.8

395.8
396.0
395.4
379.1

306.1
310.3
311.0
302.1

115.2
117.0
115.9
111.1

421.2
427.2
427.0
413.2

2445.4
2469.4
2458.5
2442.2

628.0
630.8
639 .3
633.5

70.0
80.6
80.4
76.3

17 . 7
16.4
15.3
15.7

333.9
337.9

7.8
7.8

381.7
383.0

297.8
302.3

111.7
114.1

409.5
416.4

2434.9
2440.5

630.3
629.1

73.7
73.5

16.6
15.2

1994-JAN.
FEB.
MAR.
APR.

APR.

p

MAY

2p
9p

e

1.

2.
3.
4.
5.

FEB

7.

b u m OT l a r g e i rr

s?ge"co,po,a,i°ns' ,

6.
.H

.

„_

n K /

m n n

8.
9.


e
estimated


P

preliminary

o v market mutual funds.

,

Page8

H.6 (508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Savings deposits1
Date

1992-DEC.

Small-denomination time deposits2

General
purpose and
broker/dealer
money
market funds

Institutiononly money
market funds

At
commercial
banks

Total

At
commercial
banks

At
thrift
institutions

Total

7 5 2 .9

428 . 1

1181 .1

507 . 8

361 .2

869 . 0

350.2

200.4

291.7

67.2

358.9

282.8
282.5

66.8

349.6
348.2
344.8

, l

At
thrift
institutions

Total

7 5 0 .2
754 .0
7 5 8 ,. 5

427 . 5
424 .7
426 .0

1177 .7
1178 .7
1184 .5

504 . 4
504 .7
5 0 1 .3

356 .8
349 . 0
344 .8

8 6 1 .3
853 . 6
846 . 1

350.6
351.2
354.8

200.5
208.4
201.1

279.7

65.7
65.0

APR.
MAY
JUNE

7 6 1 , .9
7 6 7 ,. 2
7 7 3 ,.6

427 . 4
428 .6
4 3 0 .9

1189 .3
1195 .8
1204 .5

496 . 1
490 .7
487 . 1

342 .4
339 .7
336 .0

838 . 5
830 . 5
823 . 0

351.4
347.7
345.2

195.6
199.7
191.0

282.7
285.8
282.8

65.1
65.2
64.8

347.8
351.0
347.6

JULY
AUG.
SEP.

7 7 3 ,. 6
7 7 6 ,. 0
7 7 6 , .7

4 3 1 .4
430 .8
4 2 9 .7

1205 .0
1 2 0 6 .9
1 2 0 6 ,. 4

483 .9
479 .6
476 .7

332 . 1
328 .3
3 2 4 , .9

816 .0
807 .9
8 0 1 .5

343.0
343.0
340.8

188.6
190.1
187.5

277.1
279.5
277.6

64.4
64.3
64.0

341.5
343.8
341.6

OCT.
NOV.
DEC.

7 7 7 ,.7
7 8 4 ..0
7 8 3 ..9

430 .0
430 .4
429 .4

1 2 0 7 .7
1 2 1 4 ,.4
1 2 1 3 ,.2

473 .3
468 .8
4 6 7 ,. 6

3 2 1 .6
3 1 8 ,. 1
3 1 3 .. 6

7 9 4 .9
7 8 6 .9
7 8 1 .2

340.7
345.0
347.2

189.2
194.0
195.8

277.6
276.2
275.8

63.7
63.6

61.6

341.3
339 .8
337.4

1994-JAN.
FEB.
MAR.

7 8 6 .. 1
7 8 7 ..7
7 9 1 . .3

4 2 8 . .0
4 2 7 ..9
4 3 2 ..2

1 2 1 4 .. 1
1 2 1 5 . .6
1 2 2 3 . .6

4 6 5 ,. 6
4 6 3 .. 8
4 6 2 .. 1

3 1 1 . .8
3 0 8 . .3
3 0 6 . .7

7 7 7 . .3
7 7 2 .. 1
7 6 8 . .9

348.1
349.4
357.6

196.2
186.1
180.5

276.0
271.7
271.2

61.4
61.3
60.9

337.3
333.0
332.1

7 9 0 . .2

4 3 3 ..6

1 2 2 3 . .8

4 6 1 . .4

3 0 5 . .7

7 6 7 . .0

367.6

176.2

268.9

61.0

330.0

Week e n d i n g
1994-MAR. 14
21
28
APR.

MAY

4
11
18
25
2p
9p

7 9 4 . .7
7 9 0 . .9
7 8 9 . .2

4 3 2 . .4
4 3 2 . .5
4 3 2 . .4

1 2 2 7 .. 1
1 2 2 3 . .4
1 2 2 1 . .6

4 6 2 . .2
4 6 2 .. 1
4 6 1 . .9

3 0 6 . .9
306. 6
306. 4

7 6 9 ., 1
7 6 8 . ,7
768. 3

357.8
359.3
358.6

181.5
184.1
179.7

272.1
272.2
271.1

60.9
60.8
60.8

333.0
332.9
331.8

7 9 5 . .5
7 9 9 .. 1
791. 9
782. 8

4 3 5 . .6
4 3 6 . .9
4 3 3 . .9
4 3 0 . .9

1 2 3 1 .. 1
1 2 3 5 . ,9
1225. 7
1213. 7

461.
461.
461.
460.

306.
306.
305.
305.

768.
767.
766.
766.

2
6
9
0

358.4
368.8
370.2
370.5

175.9
176.6

264.0
267.3

180.8

268.2

174.4

271.4

61.2
61.1
61.0
61.0

325.2
328.5
329 .2
332.3

781. 5
786. 4

430. 9
433. 0

1212. 5
1219. 4

462. 1
462. 6

766. 9
767. 2

365.3
365.1

172.2
171.6

272.8
273.2

60.9
60.4

333.7
333 . 6

6
3
1
9

6
3
8
1

304. 8
304. 6

Savings deposits include m o n e y market deposit accounts.

~
,h0Se l=S ed

"

3.
4.
S
p

At
commercial
banks4

1993-JAN.
FEB.
MAR.

APR. p

1.
2.

Large-denomination time deposits3

At
thrift
institutions

S

preliminary




F

E

E

E

F

1

a

am00n,s

n

* " » . « » • A" IRA and Keogh account balances a, commercial
c

l

t

o

^

i

o

n

banks

Page 9
H.6 (508)

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

Date

At commercial

o
o

Term
Eurodollars2

Savings bonds

Short-term
treasury

Bankers
acceptances4

81.1

45.6

156. 4

345. 3

21. 4

366.3

3069.8

8653 . 5

Commercial
paper5

Federal debt

Non-Federal
debt

1993-JAN.
FEB.
MAR.

59.1
60 . 2
63 . 7

21.0
22.1
22.3

80 . 1
82.3
86 . 0

43.5
46.7
49.8

158.6
161.0
162. 9

343. 0
340. 5
341. 9

21. 4
20. 2
18. 9

367.7
359.1
361.6

3076.2
3087.3
3121.4

8668 . 8
8670. 0
8677 . 2

APR.
MAY
JUNE

65.9
66.6
70.2

22.9
23.2
22.6

88.9
89 . 8
92.8

48.7
48.7
45.5

164. 2
165. 2
1 6 6 .. 1

333. 4
3 3 5 . .2
3 3 8 .. 5

1 8 . ,7
1 9 .. 1
1 8 . .5

369.7
366.7
369 . 5

3142.9
3161.1
3188.9

8698. 8
8722 . 8
8757. 4

JULY
AUG.
SEP.

72 . 7
71.9
71.1

23.7
24.2
24.5

96.4
96.0
95.6

41.9
44.1
45.2

1 6 7 .. 0
1 6 7 .. 8
1 6 8 . .7

337 . 4
3 4 0 .. 4
3 2 4 . .2

17 ,. 4
1 6 . .3
1 5 , .9

367 . 3
374.6
380.2

3201.8
3229.4
3251.9

8 7 9 6 .. 1
8 8 2 4 .. 4
8860 .3

OCT.
NOV.
DEC.

70.2
69.3
70.3

24.0
24.7
25.0

94.2
94.0
95.3

44.9
48.5
46.0

169 . 6
1 7 0 .. 6
171 .4

319 .6
328 .8
336 .8

16 . 3
15 . 7
15 . 3

385.2
385.6
389 . 3

3249.4
3287.0
3329.5

8899 . 9
8937 .3
8980 . 1

1994-JAN.
FEB.
MAR.

65.7
63.4
66.8

25.5
25.9
25.1

91.2
89 . 3
91.9

45.0
48.2
46.8

172 . 6
173 . 7
174 . 6 p

340 .0
341 .0
343 . 8 p

15 . 7
15 . 6
15 . 1 p

398.9
402 . 0
400.2 p

3333.0
3345.4
3374.4 p

9007 . 0
9028 .7
9062 .8 p

69 . 4

25.1

94.5

48.0

67.9
66.0
66.8

25.3
25.3
24.8

93.3
91.3
91.6

47.4
47.0
47 . 2

72 . 8
68.8
70.8
67.8

24.4
24.8
25.4
25.7

97.2
93.5
96.2
93.6

45.9
48.1
49.0
48.7

68.0
66.9

24.9
25.9

92.9
92.8

47 . 0
47.1

APR.

MAY

4.
5.
6.

Total

61.1

Week e n d l n a
1 9 9 4 - M A R . 14
21
28

3.

At thrift
institutions

1992-DBC.

APR. p

1.
2.

Debt components6

Non-M3 Components of L

Term RPs1

4
11
18
25
2p
9p

I m i i i n r o a i w u ivow ?*n.•»

i

y• — —

— -

—/ ?

—

— o — ••

^ .

. .. —.

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
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.

preliminary
Digitized forpFRASER


Page 10
H.6 (508)
Table 6

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

U.S. government deposits
Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

.6

5 .2

6 .0

14 .3

.1
.3
.5

6 .1
4 .3
4..2

7,.7
5 .9
5..4

8.2

1.6
1.6

.8
.1
.5

5 .8
4..2
5,.4

JULY
AUG.
SEP .

8.5

1.7

11 .5

8.1

1.6

8.5

1.5

.2
.8

OCT.
NOV.
DEC.

8.3

1.6
1.8
1.6

1994-JAN.
FEB.
MAR.

8.5
8.3
7.9

1.6

Date

At
commercial
banks

25 .5

2 .6

147,.2

124..9

4 5 . .4

317.4

27,.0
25 .2
13,.2

40 .8
35 .4
22..8

2,.0
2,.5
2..4

147..2
146..9
147..7

123. .7
122. .6
121. .2

4 4 . .6
4 5 . .6
4 5 . .6

315.6
315.1
314.4

6..2
5,.8
8.. 1

14,.5
16.. 1
21.1

26..5
26.. 1
34..6

1..5
2..6
3..0

148..0
146..9
146..5

119. .8
1 1 9 .. 1
118. .5

4 5 .. 1
4 6 . .0
46..7

313.0
312.0
311.7

4..2
3..8
5..5

6,.9
5..7
9..3

21,.4
20..0
23..2

32..5
29..5
37..9

2..8
3.. 1
2..8

146..4
146.. 1
145..8

118. . 1
117. .8
117. .4

47..3
47..4
47..5

311.8
311.2
310.7

.7
.8
.9

4..5
4..0
5..2

5..9
5..6
6..7

12..6
8..8
16..2

23.. 1
18..4
28.. 1

2..6
2..7
2..6

145..2
144..6
144..2

117..6 e
118. .0 e
117..5 e

48.. 1 e
49.. 1 e
49..8 e

310.9 e
311.7 •
311.4 •

1.6

.0
.0
.0

5..7
4..2
4..3

7 . .3
6..3
5.-2

25..2
27..9
15..7

38.,3
38..4
25.. 1

2.. 1
2.,5
2.,4

143..9
143..6
142..6

116. .6 e
116.. 1 e
115,.5 e

50.. 1 e
50..7 e
51..3 e

310.6 e
310.4 •
309.5 •

8.4

1.6

.0

7 ., 1

5..6

20.,8

33. 5

2 . ,0

142.. 1

115,.0 e

52,.3 e

309.4 •

7.9
7.8
7.9

1.6
1.7

1.8

.0
.0
.0

3..9
5,,8
3..4

4..9
5..7
4..6

6.-5
19..6
20..0

15..2
31.. 1
28..0

2.,5
2.,4
2..3

11.0
11.0
11.0
11.0

5.3
3.9
14.0
5.1

6.3
4.3
4.8

1.9

6.6

17.0
9.2
10.5
32.1

28.6

8.0

1.5
1.5
1.7
1.4

17.4
29.3
43.8

1.0
1.0
3.3

8.1

1.8

8.3

1.4

11.0
11.0

6.3
3.6

6.5
7.2

38.8
39.4

51.6
50.2

3.2
3.1

Foreign
official
institutions

1992-DEC.

9.0

1.6

1993-JAN.
FEB.
MAR.

8.7
8.7
8.3

1.4
1.5

APR.
MAY
JUNE

7.8
8.3

1.7

8.2
9.2

Week ending
1 9 9 4 - M A R . 14

21
28
APR.

4

11
18
25
MAY

2p
9p

estimated
preliminary




IRA and Keogh Accounts
Time and
savings
deposits at
commercial
banks

Foreign
commercial
banks

APR. p

e
p

Time and
savings
deposits due
to foreign
banks and
official
institutions

8.3
9.4
7.9

1.6

1.5

Note
balances at
depository
institutions

Total
cash
balance

At
thrift
institutions

At

™ n ke V t
7unds

Total

H.6(508)
Special Supplementary Table

Monthly Survey of Selected Deposits 1
March 30, 1994 and April 27, 1994
(not season:illy adjusted)

Insured Commercial Banks
Amount Outstanding ($mil.)
Change
(percent)

Average Rate Paid (%)
Mar. 30

Apr. 27

Change
(b. p.)

Liability Categories

Mar. 30

Apr. 27

NOW Accounts

297,496

293,712

Savings Deposits"

779,340

770,909

-1.08

143

145

2

N.A.

N.A.

N.A.

-1.27

1.82

1.81

-1

Persoiud

615,875

610,963

-0.80

Nonpersonal

163,465

159.945

-2.15

N.A.

N.A.

N.A.

29.539

29.447

-0.31

2.76

187

11

Interest-hearing time deposits with
balances of less than SI 00,000
with origimtl maturities ot:
7 to 91 days
92 to 182 days

107.407

105.562

-1.72

3.02

3.13

11

183 days to 1 yc;u

144,022

146,615

1.80

3.27

142

15

1 to 2-7: yeiir

139.946

139,166

-0.56

3.69

3.87

18

2-7] ye;irs <uid over

180,973

181.833

0.48

4.46

4.66

20

All IRA/Keogh Pkui deposits

142,002

142,107

0.07

N.A.

N.A.

N.A.

B I F - i n s u r e d Sav ings B a n k s 4
Amount Outstanding ($mil.)

Mar. 30

Apr.

Change
(h. p.)

Mar. 30

Apr. 27

NOW Accounts

11,078

10.913

-1.49

1.83

1.85

i

Sav ings Deposits"

78.701

78.547

-0.19

2.63

2.65

i

Personal

75,444

75.314

-0.17

N.A.

N.A.

N.A.

3.257

3.234

-0.72

N.A.

N.A.

N.A.

1671

1678

0.28

2.71

i J

Change
(percent)

Average Rate Paid Vt )

1

i)2 to 182 days

13.177

11945

-1.76

3.08

3.13

5

183 days to I year

17.511

17,325

-1.06

3.37

3.47

10

1 to

Liability Categories

Nonpersunal

27

7 to 91 days

2-7:

vc;u

"

2-7- years ;uid over
All IRA/Keogh Plan deposits"

i -j

Interest-bearing time deposits with
bahuices of less than $ 100,0( K)
with original maturies ol:

16,180

16.289

0.67

3.85

3.96

11

2 1 , 1 10

21,308

0.94

4.75

4.85

10

19.447

19.906

2.36

N.A.

N.A.

N.A.

N . A . - - d a t a are not a v a i l a b l e
N O T E : D a t a t o r e a r l i e r m o n t h m a y show r e v i s i o n s
1. E s t i m a t e s are b a s e d o n data c o l l e c t e d b y the F e d e r a l R e s e r v e S y s t e m f r o m a s t r a t i f i e d r a n d o m s a m p l e o f a b o u t 4 6 0 c o m m e r c i a l
b a n k s a n d K() s a v i n g s b a n k s . A l l rates are e x p r e s s e d as a n n u a l e f f e c t i v e y i e l d s .
2.

Includes personal and nonpersonal m o n e y market deposit accounts.

3. T o t a l I R A a n d K e o g h P l a n deposits r e g a r d l e s s o f size, t y p e o f i n s t r u m e n t in w h i c h h e l d , or i n t e r e s t rate p a i d .
4.

R I F - m s u r e d s a v i n g s b a n k s i n c l u d e b o t h m u t u a l and f e d e r a l s a v i n g s b a n k s .