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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
.9
4167.
.7
4160.
.3
4156.
.4
4150.
.5
4155.
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 amount of U.S. dollai—denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are
included in demand 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
l
thrift
commerciai
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
<
official
commercial
banks
institutions

Date

IRA and Keogh Accounts

sits
U.S. government depo:
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.)

Apr. 28

Banks
Average Rate Paid (%)

Mar. 31

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

10,090

31o

232

225

-7

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

2

Change
(percent)

80,480
77,371
3,109

NOW Accounts

Apr. 28

10,412

Liability Categories
Savings Deposits
Personal
Nonpersonal

Mar. 31

Change
(b.p.)

Liability Categories

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.