Full text of H.6 Money Stock Measures : May 20, 1993
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•^OfCOv, FEDERAL RESERVE statistical release These data are scheduled for release each Thursday at 4:30 p.m. «AL R£ H.6 (508) Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES MAY 20, 1993 Billions of dollars Date M1 J M2* DEBT5 M3 3 Seasonally adjusted 1991-MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 849.1 857.6 861.8 867.9 872.4 879.5 891.0 899.3 3407. 3416. 3415. 3417. 3418. 3422. 3435.8 3445.8 4166..5 4167..9 4160..7 4156..3 4150..4 4155..5 4162.8 4168.1 4959. 4983. 4994. 4983. 4968. 4972. 4983. 4982. 10941. 10993. 11025. 11062. 11094. 11131. 11169. 11192. 1992-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 911.5 926.2 935.1 941.2 952.2 952.6 963.3 975.5 990.1 1005.9 1019.1 1026.6 3451.0 3467.7 3467.8 3464.8 3467. 3462. 3463. 3472. 3480. 3491. 3498. 3497. 4172.2 4189.0 4184.9 4177.9 4179.8 4170.1 4169..0 4178..7 4183..0 4180..0 4178..5 4166.5 4978.3 4999.1 5010.1 5009.1 5011.0 5014.8 5012.5 5025.9 5037.4 5042.3 5055.9 5052.1 11227.1 11278.9 11338.7 11393.4 11441.3 11493.5 11537.8 11584.5 11624.7 11652.2 11707.6 11768.2 1993-JAN. FEB. MAR. APR. p 1033.3 1033.1 1035.4 1043.1 3487.0 3475.2 3472.2 3472.5 4140.9 4134.4 4128.5 4135.0 5030.4 5023.8 5024.6 p 11795.1 11837.1 11902.6 p Not seasonally adjusted 1991-MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 841.4 857.7 861.9 864.2 866.9 874.8 893.1 916.4 1992-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 1993-JAN. FEB. MAR. APR. p 3392. -3411. 3414. 3413. 3407. 3417. 3438. 3457. 4154..2 4163..4 4157..1 4157.8 4140.7 4145.7 4167.7 4178.1 4939, 4971, 4980. 4975, 4959. 4961. 4994. 5004. 10894.3 10944.2 10977.4 11017.8 11061.2 11106.1 11147 11182.8 917.3 916.0 930.5 954.7 943.9 951.9 962.5 970.4 982.8 1000.9 1021.5 1045.8 3456.0 3462.3 3474.8 3486.5 3452.5 3457.2 3461.0 3466.8 3467.8 3485.7 3500.8 3511.2 4174..1 4186..5 4195..2 4195..0 4167..1 4165..0 4163..6 4178..5 4171..5 4170..0 4183.8 4178.6 4993. 4999. 5023. 5024. 4988. 5001. 4996. 5015. 5026. 5031. 5068, 5077, 11214.5 11247.2 11298.9 11350.2 11392.8 11444.4 11492 11546 11597 11631 11689 11760 1040.3 1022.3 1030.8 1058.3 3492.7 3469.2 3479.1 3496.0 4143.6 4131.8 4138.5 4154.1 5047.3 5024.1 5038.3 p 11782.3 11805.9 11864.7 p 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] 3.8 -1.7 -0.6 4.6 6 Months from OCT. 1992 TO APR. 1993 7.4 -1.1 -2.2 4.8 12 Months from APR. 1992 TO APR. 1993 10.8 0.2 -1.0 5.0 3 Months from JAN. 1993 TO APR. 1993 Thirteen weeks ending MAY 10, 1993 from thirteen weeks ending: FEB. 8, 1993 (13 weeks previous) 5.0 -1.8 -1.9 NOV. 9, 1992 (26 weeks previous) 9.1 -0.5 -2.1 11, 1992 (52 weeks previous) 11.0 0.3 -1.1 MAY Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, December 1992 to March 1993, September 1992 to March 1993, and March 1992 to March 1993, 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 (NOW) 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, 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-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 foreian 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 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 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-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 2.1. In those releases, published levels of credit market debt are measured on a quarter-end basis and include discontinuities. f H.6 (508) Table 3 MONEY STOCK MEASURES Billions of dollars Seasonally adjusted Ml Period ending 13-week average 4-week average 1993-FEB. 15 22 1028.6 1029.8 1032.6 1032.8 M3 M2 week average 13-week average 4-week average 1031.4 1034.9 3489.6 3488.2 3477.5 3475.6 13-week average 4-week average week average 3473.8 3477.1 4153.7 4150.1 4133.7 4133.9 4139.6 4133.0 week average MAR. 1 8 15 22 29 1030.9 1031.6 1032.1 1033.0 1033.5 1033.3 1034.0 1034.2 1034.8 1034.9 1036.4 1033.2 1032.4 1037.3 1036.8 3486.6 3484.6 3482.4 3480.3 3478.6 3475.3 3475.6 3474.9 3473.1 3472.3 3476.6 3474.8 3471.0 3469.8 3473.6 4147.0 4143.0 4139.1 4136.0 4134.4 4134.1 4134.7 4131.9 4130.0 4128.7 4137.5 4128.6 4128.5 4125.2 4132.4 APR. 5 12 19 26 1034.5 1035.5 1035.9 1036.4 1037.2 1040.1 1040.5 1041.5 1042.1 1044.2 1039.0 1040.7 3477.6 3476.4 3474.6 3473.4 3472.5 3473.7 3472.8 3471.6 3475.5 3476.0 3466.1 3468.6 4133.4 4133.3 4131.7 4132.2 4128.5 4130.5 4131.1 4132.6 4127.9 4136.5 4127.4 4138.7 MAY 3p lOp 1038.0 1040.6 1044.7 1049.8 1054.8 1064.8 3473.7 3475.9 3473.1 3479.6 3481.8 3501.9 4133.1 4136.6 4138.0 4146.8 4149.2 4171.8 Not seasonally adjusted Ml M3 M2 Period ending 13-week average 4-week average week average 13-week average 4-week average 1993-FEB. 15 22 1036.3 1036.8 1021.2 1021.3 1025.2 1017.1 3495.3 3493.7 3466.7 3467.0 week average 13-week average 4-week average week average 3472.8 3465.1 4158.7 4154.9 4124.9 4127.8 4143.0 4123.3 MAR. 1 8 15 22 29 1036.6 1036.3 1035.7 1034.4 1032.3 1022.6 1025.4 1027.6 1029.7 1029.9 1020.2 1039.1 1033.8 1025.6 1021.0 3491.8 3489.4 3486.9 3484.1 3481.7 3469.8 3473.9 3477.3 3478.3 3478.4 3467.4 3490.3 3486.3 3469.2 3467.8 4151.5 4147.8 4144.4 4140.8 4138.3 4132.2 ^137.2 4139.2 4140.1 4138.6 4134.6 4147.9 4150.8 4127.1 4128.4 APR. 5 12 19 26 1031.4 1032.0 1033.8 1035.5 1035.3 1044.3 1054.8 1059.3 1060.8 1069.7 1067.8 1038.8 3480.6 3480.4 3480.8 3480.8 3483.5 3492.7 3501.2 3500.4 3510.7 3522.9 3503.3 3464.7 4137.6 4138.8 4139.1 4140.5 4140.5 4148.2 4156.2 4156.8 4155.8 4181.4 4159.3 4130.6 MAY 3p lOp 1038.3 1041.1 1056.9 1055.6 1051.4 1064.4 3482.0 3483.6 3490.5 3483.7 3470.9 3496.0 4141.9 4144.8 4151.5 4147.7 4134.7 4166.1 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 Nontransactions components. deposits At thrift institutions5 Total In M 2 6 In M3 only 7 242.3 91.6 333.8 2546.6 722.3 296.3 303.3 308.0 245.9 249.9 252.1 92.7 94.4 95.5 338.6 344.3 347.5 2539.5 2541.5 2532.7 721.2 721.3 717.1 7.7 7.7 7.7 310.8 314.7 312.3 253.4 258.8 259.1 95.7 96.0 96.8 349.0 354.7 355.9 2523.7 2515.3 2509.5 713.1 712.3 708.0 279.5 282.4 286.3 7.7 7.8 8.1 317.5 322.5 329.0 261; 264. 266. 97. 58, 100.1 358.6 362.8 366.7 2500.3 2496.9 2490.2 705.4 706.4 702.8 OCT. NOV. DEC. 288.0 289.8 292.3 8.3 8.2 8.1 336.0 339.5 340.9 271. 278. 281. 101 103, 104. 373.7 381.6 385.2 2485.5 2478.8 2470.3 688.5 680.5 669.6 1993-JAN. FEB. MAR. 294.7 296.8 299.0 3.0 8.0 8.0 341.9 341.9 342.0 283.5 283.3 284.0 105.1 103.2 102.4 388.6 386.4 386.4 2453.6 2442.1 2436.9 654.0 659.2 656.3 301.4 8.1 347.3 283.3 103.1 386.3 2429.4 662.5 Currency3 Travelers checks2 Demand deposits3 1991-DEC. 267.2 7.8 290.5 1992-JAN. FEB. MAR. 269.0 270.8 271.9 7.7 7.7 7.7 APR. MAY JUNE 273.6 275.1 276.6 JULY AUG. SEP. Date APR. Neek p At commercial banks 5 ending 1993-MAR. 15 22 29 298.5 299.6 300.6 8.0 8.0 8.0 340.8 342.5 341.3 283. 283. 285. 101.9 103.3 101.6 385.2 387.2 386.9 2438.6 2432.4 2436.9 657.6 655.5 658.7 APR. 5 12 19 26 300.7 300.9 300.9 302.1 8.1 8.1 8.1 8.2 345.4 348.4 345.3 345.1 285. 283. 281. 282. 102.8 103, 103 103. 387.9 386.9 384.7 385.4 2433.4 2431.7 2427.0 2427.9 652.4 660.5 661.3 670.1 MAY 3p lOp 302.3 303.0 8.2 8.2 355.1 358.3 285. 290. 104. 104. 389.2 395.3 2427.0 2437.1 667.4 669.9 1. 2. 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 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 NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. 5. Consists of NOH 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), savings deposits (including money market deposit accounts) 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 overnight 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 deposits 1 At At commercial thrift banks institutions Date Large-denomination time deposits 3 Small-denomination time deposits2 Total At At commercial thrift banks institutions Total General purpose and broker/dealer money market funds Institutiononly money market funds At At commercial thrift banks* institutions Total 1991-DEC. 666.2 376.3 1042.5 601.5 463.2 1064.7 363.9 182.1 341.3 83.4 424.7 1992-JAN. FEB. MAR. 677.2 689.0 695.6 383.1 391.7 398.7 1060.3 1080.7 1094.3 589.1 578.6 571.2 453.9 442.9 432.8 1043.0 1021.5 1004.0 360.3 362.3 358.0 186.1 192.0 192.2 336.9 333.7 330.0 82.0 79.9 77.4 418.9 413.6 407.4 APR. MAY JUNE 703.9 709.3 713.3 403.6 410.3 412.7 1107.5 1119.6 1126.0 567.9 560.0 552.9 418.2 409.6 402.8 986.1 969.6 955.7 354.5 354.9 353.5 195.9 202.2 206.3 326.6 323.0 317.7 75.5 73.0 71.7 402.1 395.9 389.3 JULY AUG. SEP. 719.5 727.6 737.2 415.0 418.2 421.7 1134.5 1145.7 1158.9 544.6 535.6 527.5 396.9 391.3 385.2 941.5 926.9 912.7 350.4 348.9 343.9 212.5 220.9 220.7 311.0 307.8 303.5 71.5 70.3 70.2 382.5 378.1 373.7 OCT. NOV. DEC. 746.1 752.5 756.1 424.4 427.9 429.9 1170.5 1180.4 1186.0 519.9 511.9 507.0 376.6 369.9 363.2 896.5 881.7 870.2 346.3 343.7 342.3 210.9 209.2 202.3 296.8 292.8 290.2 70.2 68.5 67.3 367.0 361.3 357.5 1993-JAN. FEB. MAR. 754.1 755.7 753.9 430.2 426.6 424.8 1184.3 1182.3 1178.8 502.7 504.0 502.8 358.2 351.0 347.3 860.9 854.9 850.1 339.6 333.6 333.1 197.7 201.9 200.9 283.7 280.8 275.9 67.1 65.5 64.5 350.7 346.3 340.4 755.8 425.6 1181.4 499.0 344.6 843.6 331.7 200.4 277.9 65.2 343.1 APR. Heek p ending 1993-MAR. 15 22 29 754.1 753.1 754.1 424. 425. 425. 1178. 1178. 1179. 503. 502. 500. 347. 347. 346. 851. 849. 847. 333. 333. 331. 202.2 200.9 201.3 277.0 274.5 273.5 64.6 64.3 64.3 341.6 338.8 337.8 APR. 5 12 19 26 753.9 756.1 754.4 756.2 425.2 423.8 424.6 427.2 1179. 1179. 1179. 1183. 500. 500. 498. 498. 345. 345. 344. 344. 845. 845. 843. 842. 330. 330. 330. 332. 203.9 197.5 200.4 200.5 275.6 275.8 277.6 280.3 64.6 65.0 65.2 65.5 340.2 340.8 342.8 345.9 MAY 3p lOp 759.6 765.3 428. 428, 1188.1 1193.9 497. 495. 343.8 343.4 840.8 839.1 335. 336. 201.4 205.5 280.9 280.4 65.3 64.9 346.1 345.2 Savings deposits include money market deposit accounts. 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 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, P~ -indicates preliminary data. 1. 2. 3. 4. H.6 ( 5 0 8 ) Table 4-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Non-M3 Components of L Debt components* Savings bonds Short-term Treasury securities1 Bankers acceptances2 1991-DEC. 138.0 315.0 23.4 337.7 2764.8 8428.0 1992-JAN. FEB. MAR. 139.0 140.2 141.3 311.9 320.0 325.1 22.9 22.6 22.2 332.3 327.3 336.7 2782.6 2801.8 2841.7 8444.5 8477.1 8497.0 APR. MAY JUNE 142.4 143.5 144.6 325.9 329.4 330.1 21.8 22.0 22.0 341.0 336.4 348.1 2877.3 2908.5 2943.8 8516.1 8532.8 8549.7 JULY AUG. SEP. 145.8 147.4 149.3 324.8 322.9 321.0 21.7 21.1 20.7 351.2 355.7 363.4 2968.2 2991.6 3004.1 8569.6 8592.9 8620.6 OCT. NOV. DEC. 151.9 154.7 156.8 321.8 330.1 340.0 20.5 20.3 20.4 368.0 372.4 368.4 3001.4 3027.6 3068.8 8650.8 8679.9 8699.4 158.9 161.1 162.7 347.1 350.5 349.6 20.6 20.1 19.1 363.0 357.8 364.7 3076.3 3090.0 3128.5 8718.8 8747.1 8774.2 Date 1993-JAN. FEB. MAR. p 1. Commercial paper 3 Federal debt Non-Federal debt 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. 2. 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. 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 checks2 Demand deposits3 commercial banksA At thrift institutions5 Total In M2 6 In M3 only7 Overnight RPs 8 Overnight Eurodollars9 1991-DEC. 269.9 7.4 302.9 244.9 91.4 336.3 2541.5 720.1 53.7 22.6 1992-JAN. FEB. MAR. 267.8 269.4 271.0 7.4 7.5 7.4 299.9 296.4 302.6 250.7 250.4 254.1 91.4 92.3 95.4 342.2 342.7 349.5 2538.7 2546.3 2544.3 718.1 724.3 720.4 55.9 58.3 54.1 21.9 19.6 20.6 APR. MAY JUNE 273.3 275.7 277.2 7.3 7.4 7.8 313.8 308.3 311.4 261.3 255.7 257.7 98.9 96.8 97.8 360.2 352.5 355.5 2531.8 2508.6 2505.3 708.6 714.6 707.8 53.4 50.8 52.7 19.3 18.7 19.8 JULY AUG. SEP. 280.8 282.9 284.6 8.2 8.4 8.5 317.7 319.8 326.1 257.7 260.8 264.0 98.2 98.4 99.6 355.9 359.2 363.6 2498.5 2496.4 2485.0 702.6 711.7 703.6 53.4 59.4 56.1 19.4 16.8 17.7 OCT. NOV. DEC. 287.0 290.0 295.0 8.4 7.9 7.8 336.7 343.9 355.3 268.1 277.0 284.0 100.8 102.7 103.7 368.8 379.7 387.7 2484.8 2479.3 2465.4 684.3 683.0 667.4 55.1 54.2 52.5 19.9 20.9 21.3 1993-JAN. FEB. MAR. 293.6 295.3 297.9 7.8 7.7 7.8 346.2 334.3 336.3 289.1 284.1 286.5 103.6 100.8 102.4 392.7 384.9 388.9 2452.5 2447.0 2448.2 650.8 662.5 659.4 54.5 55.9 57.0 17.8 17.0 15.8 301.3 7.8 350.7 292.0 106.6 398.6 2437.7 658.1 54.9 14.3 APR. p Meek ending 1993-MAR. 15 22 29 297.9 298.3 297.7 339.1 332.8 331.4 286. 285. 283. 102. 101. 100. 389.0 386.8 384.2 2452. 2443. 2446.8 664. 657. 660. 58.2 53.8 57.8 15, 15, 17, APR. 5 12 19 26 300.8 302.6 301.1 300.4 350. 355. 355. 340. 293. 295. 296. 286. 108. 108. 107, 103. 401, 403. 403. 389. 2449. 2453. 2435. 2425. 645. 658. 656. 665. 59. 55. 54. 55. 16, 15. 13, 13, MAY 3p lOp 301.4 305.1 351. 353. 285. 290. 105.6 107.9 390.8 398.3 2419. 2431. 663.8 670.2 47.8 51.9 13.8 14.0 Currency outside U.S. Treasury, Federal .Reserve Banks and the vaults of depository institutions. Outstanding amount of U.S. »' y> Outstanding U.S. dollai—denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in amount demand of deposits 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 NOH 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), savings deposits (including money market deposit accounts) 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 adjustea Savings deposits 1 At At thrift commerciail institutions banks Date Large-denomination time deposits 3 Small-denomination time deposits2 Total At At commercial thrift banks institutions Total At At General purpose Institutionthrift and broker/dealer only money commercial banks 4 institutions money market funds market funds Total 1991-DEC. 663.3 374.7 1038.0 602.0 463.6 1065.6 361.5 182.4 340.1 83.1 423.2 1992-JAN. FEB. MAR. 673.4 686.5 698.7 380.9 390.2 400.4 1054.3 1076.7 1099.0 591.1 579.4 570.6 455.4 443.5 432.3 1046.5 1022.9 1002.9 360.0 368.8 367.7 190.8 200.1 194.9 334.6 333.0 330.9 81.4 79.7 77.6 416.1 412.7 408.6 APR. MAY JUNE 708.0 710.0 716.1 406.0 410.7 414.3 1113.9 1120.6 1130.5 566.7 557.7 551.0 417.3 407.9 401.4 984.0 965.6 952.4 361.1 352.9 349.9 194.9 202.3 202.4 325.7 324.8 319.3 75.3 73.4 72.0 400.9 398.2 391.3 JULY AUG. SEP. 721.9 728.2 735.4 416.3 418.5 420.6 1138.2 1146.7 1156.0 544.7 535.8 528.1 397.0 391.4 385.7 941.6 927.2 913.8 345.8 346.2 341.4 209.0 220.6 216.6 310.6 309.1 303.9 71.4 70.6 70.3 382.1 379.7 374.2 OCT. NOV. DEC. 744.4 751.9 752.3 423.4 427.5 427.8 1167.9 1179.4 1180.0 521.1 512.5 507.8 377.4 370.3 363.8 898.6 882.9 871.5 343.4 341.9 340.0 206.3 209.5 202.4 296.0 292.7 289.1 70.0 68.5 67.1 366.0 361.2 356.2 1993-JAN. FEB. MAR. 749.5 753.1 757.5 427.6 425.1 426.8 1177.1 1178.2 1184.3 504.5 504.6 502.1 359.5 351.4 346.8 864.0 856.0 848.9 339.2 339.8 342.2 202.3 210.3 203.6 281.7 280.3 276.7 66.6 65.4 64.7 348.3 345.7 341.5 760.6 428.3 1188.9 497.8 343.8 841.6 337.9 199.5 277.1 65.0 342.1 759.4 756.7 756.6 427. 427. 427. 1186,.5 1183,.8 1183,.6 502.9 501.4 500.1 347. 346. 346. 850. 847. 846. 342.8 342.6 341.7 208.3 203.1 205.4 278. 275. 274. 64, 64, 64, 342.9 339.5 339.2 APR. p Week ending 1993-MAR. 15 22 29 APR. 5 12 19 26 762.3 768.1 760.0 754.3 429. 430. 427. 426. 1192..2 1198,.7 1187,.7 1180..4 500.4 499.3 497.7 496.1 345. 344. 343. 342.8 845. 843. 841. 838. 336 340 338. 337.8 187.3 201.9 200.2 203.9 276. 276. 276. 278. 64.8 65, 65, 65, 340. 341. 341. 343. MAY 3p lOp 757.4 767.1 427. 429. 1184..7 1196.,6 495.0 493.5 342. 342, 837. 835. 335.6 333.6 201, 206, 279.8 281.1 65. 65. 344.8 346.2 1. 2. Savings deposits include money market deposit accounts. 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. 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 adjustea Term RPs 1 At At commercial thrift banks institutions Date Debt components6 Non-M3 Components of L Total Term Eurodollars2 Savings bonds Short-term Treasury securities3; Bankers acceptances* Commercial paper5 Federal debt Non-Federal debt 1991-DEC. 49.3 23.2 72.5 57.6 137.7 328.1 24.5 335.8 2765.0 8417.9 1992-JAN. FEB. MAR. 48.9 50.3 52.5 22.1 22.3 21.8 71.0 72.6 74.3 55.7 56.1 58.0 138.8 140.1 141.4 317.9 319.9 327.1 23.7 22.7 21.8 338.7 330.4 338.0 2782.5 2799.1 2834.7 8432.0 8448.0 8464.3 APR. MAY JUNE 53.3 55.6 55.3 20.8 20.8 21.1 74.1 76.4 76.4 54.9 52.8 51.9 142.7 143.9 144.9 321.0 320.0 321.4 21.3 21.6 21.7 345.0 335.4 348.8 2863.5 2884.1 2912.2 8486.8 8508.8 8532.2 JULY AUG. SEP. 53.6 55.6 57.8 21.5 20.2 19.8 75.1 75.8 77.6 51.1 51.4 49.4 146.0 147.4 149.2 315.9 319.2 322.6 21.6 20.9 20.2 349.3 349.9 363.2 2937.5 2970.3 2993.9 8555.0 8576.3 8603.8 OCT. NOV. DEC. 59.4 61.0 60.4 20.3 20.5 20.3 79.7 81.5 80.7 48.1 47.2 45.6 151.8 154.4 156.4 324.6 339.5 354.2 20.4 20.8 21.4 364.7 370.4 366.3 2998.1 3028.3 3069.8 8633.1 8661.7 8690.8 1993-JAN. FEB. MAR. 58.5 59.7 63.1 21.4 22.5 22.8 79.9 82.2 85.9 43.5 46.2 48.5 158.6 161.0 162.9 p 353.7 350.1 352.1 p 21.5 20.3 18.8 p 370.0 361.0 366.1 p 3076.2 3087.3 3121.4 p 8706.2 8718.6 8743.3 p 65.0 23.5 88.5 48.3 62.3 63.5 64.9 22. 22. 23. 85. 86. 87. 48 49 47.8 APR. p Neek ending 1993-MAR. 15 22 29 APR. 5 12 19 26 64.4 66.9 64.2 64.5 23. 23. 23. 23.8 87. 90. 87. 88. 48, 47. 47. 49. MAY 3p lOp 64.4 63.7 24. 24, 88. 88. 50. 48. 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 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, --indicates preliminary data. H.6 (508) Table 6 MEMORANDUM ITEMS 10 Billions of dollars, not seasonally adjusted Demand deposits at banks due to Foreign Foreign <commercial official banks institutions Date IRA and Keogh Accounts U.S. government depo:sits 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 Time and savings At At deposits thrift at commercial commercia 1 banks institutions banks At money market funds Total 1991-DEC. 8.3 1.7 8.0 4.8 7.4 20.5 32.8 1.5 147.7 132.4 42.3 322.4 1992-JAN. FEB. MAR. 8.5 7.8 7.8 1.7 1.5 1.4 8.0 7.4 6.9 5.2 4.3 4.2 7.4 6.2 5.6 27.9 20.9 15.9 40.5 31.5 25.7 1.8 2.0 2.2 148.3 148.4 147.8 132.3 131.3 130.8 43.5 44.6 43.8 324.1 324.3 322.4 APR. MAY JUNE 8.2 8.0 8.1 1.4 1.4 1.5 6.8 7.3 7.8 5.8 4.2 5.2 4.9 5.2 6.7 11.9 16.8 19.9 22.6 26.2 31.8 2.5 2.6 2.6 148.4 148.6 147.9 130.2 129.5 129.0 43.9 43.8 43.1 322.4 321.9 320.1 JULY AUG. SEP. 8.6 7.9 8.5 1.6 1.4 1.7 8.0 7.9 7.8 3.7 3.9 5.4 5.9 5.7 10.6 15.9 18.5 23.2 25.5 28.0 39.2 2.5 2.5 2.5 147.6 147.5 147.6 127.7 125.8 125.0 43.1 43.2 43.0 318.4 316.4 315.5 OCT. NOV. DEC. 8.5 8.3 8.9 1.6 1.6 1.6 7.7 7.7 7.7 4.2 4.1 5.2 5.8 5.5 6.0 17.7 12.4 14.3 27.7 21.9 25.5 2.5 2.7 2.6 147.6 147.2 147.1 124.1 123.1 122.0 44.6 46.2 45.4 316.3 316.5 314.5 1993-JAN. FEB. MAR. 8.7 8.8 8.6 1.4 1.5 1.6 7.7 7.7 7.7 6.1 4.3 4.2 7.7 5.9 5.4 27.0 25.2 13.2 40.8 35.4 22.8 2.0 2.5 2.3 147.1 146.9 146.8 121.1 e 120.5 e 119.8 e 45.0 e 45.2 e 45.2 e 313.2 e 312.6 e 311.7 e 8.0 1.7 7.7 5.9 6.2 14.5 26.6 1.4 146.1 119.1 e 45.2 e 310.4 e 7.8 8.7 9.0 1.7 1.7 1.8 7.7 7.7 7.7 5.6 3.6 3.4 5.2 5.3 5.1 7.9 20.3 14.8 18.7 29.2 23.4 2.4 2.4 2.5 APR. P Meek endiir>9 1993-MAR. 15 22 29 APR. 5 12 19 26 8.1 8.0 8.0 7.9 1.7 2.0 1.6 1.5 7.7 7.7 7.7 7.7 4.7 4.2 9.2 5.3 5.7 5.7 6.3 7.1 10.0 3.1 15.7 20.7 20.3 13.0 31.1 33.1 0.9 0.9 0.9 2.6 MAY 3p lOp 7.9 8.7 1.5 1.7 7.7 7.7 5.6 3.6 5.6 5.6 27.5 16.8 38.8 26.0 2.0 2.6 e—indicates estimated data, p—indicates preliminary data. H.6 (508) Special Supplementary Table Monthly Survey of Selected Deposits 1 March 31,1993 and April 28,1993 (not seasonally adjusted) Insured Commercial Banks Amount Outstanding ($mil.) Change (percent) Average Rate Paid (%) Mar. 31 Apr. 28 NOW Accounts 288,426 281,213 ^50 221 2.16 -5 Savings Deposits2 Personal 748,427 591,879 745,519 587,239 -0.39 -0.78 2.73 N.A. 2.68 N.A. -5 N.A. 156,547 158,281 1.11 N.A. N.A. N.A. 35,748 125,914 34,903 -2.36 2.75 2.72 -3 122,429 157,121 -2.77 -0.80 3.03 3.22 2.99 -4 3.19 -3 -0.75 0.10 3.74 177,789 146,923 177,969 4.52 3.67 4.47 -7 -6 146,686 145,472 -0.83 N.A. N.A. N.A. Nonpersonal Interest-bearing time deposits with balances of less than $100,000 with original maturities of: 7 to 91 days 92 to 182 days 183 days to 1 year 158,388 148,037 1 to 2-V2 year 2-V2 years and over All IRA/Keogh Plan deposits 3 BIF-insured Savings Amount Outstanding ($mil.) Liability Categories NOW Accounts Savings Deposits Personal Nonpersonal 2 Interest-bearing time deposits with balances of less than $100,000 with original maturies of: 7 to 91 days 92 to 182 days 183 days to 1 year 1 to 2-V2 year 2-1/2 years and over All IRA/Keogh Plan deposits 3 Mar. 31 Apr. 28 Change (b.p.) Liability Categories Banks Average Rate Paid (%) Mar. 31 Apr. 28 Change (percent) 10,412 10,090 31o 232 225 -7 80,480 77,371 3,109 80,025 76,962 3,064 -0.56 -0.53 -1.44 3.06 N.A. N.A. 2.99 N.A. N.A. -7 N.A. N.A. 3,551 15,468 20,164 3,513 15,306 19,893 -1.06 -1.05 -1.35 2.98 3.31 3.54 2.94 -4 .5 17,207 19,261 16,703 3.84 19,363 -2.93 0.53 21,252 21,117 -0.64 Mar. 31 Apr. 28 3.27 3.50 Change (b.p.) -4 4.89 3.86 4.84 2 -5 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 460 commercial banks and 80 savings banks. All rates are expressed as annual effective yields. 2. Includes personal and nonpersonal money market deposit accounts. 3. Total IRA and Keogh Plan deposits regardless of size, type of instrument in which held, or interest rate paid. 4. BIF-insured savings banks include both mutual and federal savings banks.