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• * qV GOyj

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

For release at 4 30 p.m. Eastern Time

Billions of dollars

Date

MAY 26. 1994

M11

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
4225.1

5040.0
5035.5
5036.4
5053.8
5086.8
5087.3
5083.6
5092.4
5085.5
5093.3
5104.1
5122.6

11758.5
11782.3
11822.2
11869.0
11914.9
11979.7
12037.7
12092 .8
12145.7
12179.3
12237.4
12309.6

1994-JAN.
FEB.
' MAR.
APR.

1133.5
1138.6
1142.4
1141.3

3569.0
3564.7
3579.2
3588.0

4229.9
4202.9
4211.6
4222 . 0

5143.7
5134.3
5141.3 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.

943.9
952.0
962.9
971.0
983 . 6
1001.8
1022.4
1046.7

3467.4
3473 . 4
3478.1
3484.1
3486.7
3504.6
3517.4
3527.6

4180.2
4179.8
4180.3
4195.5
4190.0
4190.5
4203 . 6
4198.2

5001.1
5016.7
5012.9
5032.9
5045.2
5050.3
5083.6
5087.6

11348.7
11400.0
11452.0
11512.6
11564.9
11599.4
11658.2
11723.3

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

1041.0
1023.0
1031.6
1058.7
1058.1
1073.2
1084.6
1088.8
1099.1
1129.6
1153.8

3508.3
3484.2
3495.8
3515.2
3507.3
3524.4
3529.8
3528.6
3533.2
3543.1
3564.9
3585.7

4162.9
4149.4
4157.3
4177.2
4178.6
4184.1
4179.9
4183.2
4184.4
4195.1
4224.5
4244.5

5053.6
5030.2
5042.5
5063.2
5064.8
5076.7
5069.0
5082.3
5073.4
5085.8
5125.2
5157.3

11745.0
11757.3
11798.6
11841.7
11883.9
11946.2
11997.8
12053.9
12112.2
12149.3
12224.3
12309.6

1994-JAN.
FEB.
MAR.
APR.

1142.8
1124.7
1131.9
1153.3

3575.7
3552.6
3577.6
3605.3

4230.8
4193.7
4211.5
4237 .7

5157.9
5126.0
5145.2

12340.0
12374.0
12437.3

1111.8

Footnotes appear on the following p a g e
p

preliminary




p

p

#

#

#

#

#

*

•

•

%

%
Page 2

H.6 (508)
Table 2

MONEY STOCK AND DEBT MEASURES

Percent change at seasonally adjusted annual rates
M2

M3

DEBT

3 Months

f r o m JAN.

1994

TO A P R .

1994

2.8

2.1

-0.7

4.9

6 Months

f r o m OCT.

1 9 9 3 TO APR.

19 9 4

5.0

2.4

1.0

5.2

12 M o n t h s

f r o m APR.

1 9 9 3 TO APR.

19 9 4

9 .0

2.6

1.4

5.4

3.9

1.9

-0.9

T h i r t e e n w e e k s e n d i n g MAY 1 6 , 1 9 9 4
from t h i r t e e n weeks ending:
FEB. 1 4 , 1 9 9 4 ( 1 3 w e e k s p r e v i o u s )

1

M1

NOV.

15,

1993

(26

weeks

previous)

5.9

2.1

0.7

MAY

17,

1993

(52

weeks

previous)

9.1

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 1 9 9 3 to March 1 9 9 4 , respectively.

F o o t n o t e s to Table 1:
1

2

3.

4
5

C o n s i s t s of (1) currency outside the U.S. Treasury, Federal R e s e r v e Banks, and the vaults of depository institutions; (2) travelers c h e c k s of nonbank i s s u e r s ; (3) d e m a n d
d e p o s i t s at all commercial b a n k s other than t h o s e d u e to depository institutions, the U.S. government, and foreign b a n k s and official institutions, l e s s c a s h items in t h e p r o c e s s
of collection and Federal R e s e r v e float; and (4) other c h e c k a b l e d e p o s i t s (OCDs), consisting of negotiable order of withdrawal (NOW) and automatic transfer s e r v i c e (ATS)
a c c o u n t s at depository institutions, credit union share draft a c c o u n t s and d e m a n d d e p o s i t s at thrift institutions. S e a s o n a l l y adjusted M1 is calculated by s u m m i n g currency,
travelers c h e c k s , d e m a n d d e p o s i t s , and O C D s , e a c h s e a s o n a l l y adjusted separately.
C o n s i s t s of M1 plus overnight (and continuing contract) R P s i s s u e d by all depository institutions and overnight Eurodollars i s s u e d to U.S. residents by foreign b r a n c h e s of U.S.
b a n k s worldwide, s a v i n g s d e p o s i t s (including m o n e y market deposit accounts), small-denomination time d e p o s i t s (time deposits—including retail R P s — i n a m o u n t s of l e s s than
$ 1 0 0 , 0 0 0 ) , and b a l a n c e s in both taxable and tax-exempt general p u r p o s e and broker/dealer m o n e y market mutual funds. E x c l u d e s individual retirement account (IRA) and
Keog'h b a l a n c e s at depository institutions and m o n e y market funds. Also e x c l u d e s all b a l a n c e s held by U.S. commercial banks, m o n e y market f u n d s (general p u r p o s e and
broker/dealer), foreign g o v e r n m e n t s and commercial banks, and the U.S. g o v e r n m e n t . S e a s o n a l l y adjusted M2 is c o m p u t e d by adjusting its non-M1 c o m p o n e n t a s a w h o l e and
then adding this result to s e a s o n a l l y adjusted M1.
C o n s i s t s of M2 plus large-denomination time d e p o s i t s (in amounts of $ 1 0 0 , 0 0 0 or more) and term RP liabilities i s s u e d by all depository institutions, term Eurodollars held by
U.S. residents at foreign b r a n c h e s of U.S. banks worldwide and at all banking offices in the United Kingdom and C a n a d a , and b a l a n c e s in both t a x a b l e and t a x - e x e m p t institution-only m o n e y market mutual funds. E x c l u d e s a m o u n t s held by depository institutions, the U.S. government, m o n e y market funds, and foreign b a n k s a n d official institutions.
Also subtracted is the e s t i m a t e d amount of overnight R P s and Eurodollars held by institution-only m o n e y market mutual funds. S e a s o n a l l y adjusted M3 is obtained by adjusting
its non-M2 c o m p o n e n t a s a w h o l e and then adding this result to s e a s o n a l l y adjusted M2.
C o n s i s t s of M3 plus the nonbank public holdings of U.S. s a v i n g s bonds, snort-term Treasury securities, commercial paper and b a n k e r s a c c e p t a n c e s , net of m o n e y market
mutual fund holdings of t h e s e a s s e t s .
Debt of d o m e s t i c nonfinancial s e c t o r s c o n s i s t s of outstanding credit market debt of the U.S. government, state and local g o v e r n m e n t s and private nonfinancial s e c t o r s . Private
debt c o n s i s t s of corporate b o n d s , m o r t g a g e s , c o n s u m e r credit (including bank loans), other bank loans, commercial paper, b a n k e r s a c c e p t a n c e s and other debt instruments.
The data are derived from the Federal R e s e r v e Board's flow of funds a c c o u n t s . All data on debt of d o m e s t i c nonfinancial s e c t o r s are p r e s e n t e d in m o n t h - a v e r a g e form, derived
by averaging adjacent month-end levels. T h e s e data h a v e also b e e n adjusted to r e m o v e statistical discontinuities that may arise in the underlying flow of f u n d s statistics. T h e
presentation of debt data in this r e l e a s e differs, therefore, from the quarterly flow of funds statistics contained in the Federal R e s e r v e r e l e a s e s Z.7 and Z.1. In t h o s e r e l e a s e s ,
published l e v e l s of credit market debt are m e a s u r e d on a quarter-end b a s i s and include discontinuities.




Page 3

H.6 (508)
Table 3

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

MAR.

APR.

MAY

M2

M3

13-week
average

4-week
average,

week
average

13-week
average

4-week
average

week
average

13-week
average

21
28

1132.0
1133.2

1137.4
1138.6

4-week
average

1139.1
1140.6

week
average

3565.1
3565.6

3564.9
3564.7

3559.9
3565.3

4221.3
4219.9

4209.9
4203 .0

4195.5
4196.9

7
14
21
28

1134.3
1135.5
1136 .6
1137.8

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
3576.1
3580.9

3574.1
3581.3
3583.7
3584.5

4218.7
4217.8
4217.3
4216.4

4200.9
4202 .6
4208.4
4212.9

4203.2
4214.6
4218.7
4215.0

4
11
18
25

1139 .2
1140.3
1140 .6
1140.6

1144.9
1145.4
1144.0
1141.4

1148 . 0
1143.7
1137.6
1136.4

3572.4
3574.6
3575.8
3576.6

3582.8
3586.3
3587.4
3586.9

3581.7
3595.1
3588.4
3582.4

4215.3
4214.9
4214.4
4213.5

4215.9
4218.5
4221.3
4221.8

4215.2
4224.9
4229.9
4217.2

2
9p
16p

1140.8
1141.3
1141.7

1139.0
1138.7
1140.2

1138.4
1142.5
1143.5

3577.8
3579.5
3581.2

3586.7
3584.9
3585.5

3580.8
3587.9
3590.8

4212.4
4212.7
4213.1

4220.8
4218.2
4214.3

4211.1
4214.4
4214.3

Not seasonally adjusted
1994-FBB.

MAR.

APR.

MAY

21
28

1141.5
1140.9

1123.1
1124.7

1120.7
1116.7

3572.6
3572.0

3550.3
3552.6

3544.9
3544.0

4226.8
4224.0

4196.9
4193.7

4181.8
4181.6

7
14
21
28

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
3569.9

3557.7
3565.0
3573.0
3577.8

3582.7
3588.5
3576.6
3563.5

4221.4
4218.8
4216.7
4213.8

4194.8
4200.6
4208.7
4212.3

4
11
18
25

4212.3
4226.8
4214.0
4195.9

1133.7
1133.4
1134.4
1135.2

1135.7
1143.1
1152.1
1155.7

1158.8
1166.4
1164.2
1133.5

3570.3
3572.5
3574.9
3576.5

3583.1
3594.9
3606.4
3609.4

3603.9
3635.7
3622.6
3575.5

4213.0
4213.5
4214.3
4214.3

4217.0
4226.7
4238.6
4241.9

2
9p
16p

1136.9
1137.9
1138.8

4231.2
4265.5
4261.6
4209.2

1149.3
1144.1
1138.0

1132.9
1145.7
1139.9

3579.0
3580.8
3582.7

3600.4
3588.0
3578.2

3567.7
3586.1
3583.5

4214.6
4215.2
4215.9

4233.6
4221.3
4208.9

4198.2
4216.2
4212.0

Note: Special caution should b e taken in interpreting w e e k - t o - w e e k c h a n g e s in m o n e y supply data, which are highly volatile and 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

Demand deposits 3

Other checkable deposits
At commercial
banks 4

At thrift
institutions5

Nontransactions components
Total

In M26

In M3 only7

8.1

339.6

280 .8

104.1

384.9

2484.3

674.0

8.0
I 8.0
8.0

341.9
342.7
344.3

283.5
283.8
284.9

105.0
103.9
103.6

388.6
387.7
388.5

2469.8
2458.8
2454.6

659.6
661.8
659.8

8.1
8.1
8.0

349 .0
358.8
362.2

284.2
290.3
292.4

104.1
106.1
106.8

388.2
396.4
399.2

2450.9
2454.1
2452.1

664.0
665.8
659.1

309.7
312.4
315.4

366.4
370.9
375.4

294.8
295.9
297.8

108.0
108.3
108.8

402.8
404.2
406.6

2446.8
2440.4
2438.5

653.3
650.8
651.6

OCT.
NOV.
DEC.

317 .6
319.5
321.4

378.4
383.2
384.8

299.1
300.8
302.6

110.4

111.0

2431.7
2433.8
2434.8

655.5
656.7

111.7

409.5
411.8
414.3

1994-JAN.
FEB.
MAR.

325 .2
329.2
332.4

7.9
7.9
8.0

388 .3
390.3
390.0

300.4
299.2
300.0

111.6
112.0
112 .0

412.0
411.2
411.9

2435.5
2426.2
2436.9

660.9
638.2
632.3

APR.

334.8

8.1

388 . 9

298.4

111.1

409.5

2446.6

634.0

19 9 2 - D E C .

292.2

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

294.5
297 .0
299.3

APR.
MAY
JUNE

301.8
304.4
307.2

JULY
AUG.
SEP.

1

662.0

1994-MAR.

21
28

332 .3
334.0

8.0
8.1

391.0
391.5

299.9
300.7

112 .0
112.4

411.9
413.1

2440.4
2437.8

635.0
630.5

APR.

4
11
18
25

333.7
334.0
334 .3
335.3

8 .1
8.1

301.7
298.5
297.4
296.5

110.7

8.1
8.1

393 .8
391.2
386.9
386.0

111.8

412.4
410.4
408.4
406.9

2433.7
2451.4
2450.7
2446.0

633.5
629.8
641.6
634.7

2
9p
16p

336.4
336.6
337.3

8.1
8.1
8.2

384.4
386.7
386.2

298.2
299.9
300.7

111.3
111.2

409.5
411.1
411.8

2442.4
2445.5
2447.3

630.2
626.5
623.5

MAY

1.

Travelers checks 2

110.9
110.4

111.1

Currency outside U.S. Treasury, Federal R e s e r v e Banks and the vaults of depository institutions.

2.

3.

4.
5.
6.

d'efto^its^ThTs s u ^ ' i s ^ ' a s o n a l l y ^ d j u ^ e d ^ s ^ w h o l e " 0 6 8

s z z ,
e

a

institutions, l e s s c a s h items in the p r o c e s s of collection and Federal R e s e r v e float.
C o n s i s t s of NOW and A T S b a l a n c e s at commercial banks, U.S. b r a n c h e s and a g e n c i e s of foreign banks, and E d g e Act corporations
C o n s i s t s of N O W and ATS b a l a n c e s at thrifts, credit union share draft b a l a n c e s , and d e m a n d d e p o s i t s at thrifts

estimated




p

preliminary

^dr%::n7:3%%

a n d

s a v i n g s d e p o s i t s (including m o n e y m a * e , deposit a c c o u n t s ) and

less ,he e s , i m a

™amoun,d

rp

*

Page 5

H.6 (508)
Table 4 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Savings deposits1
Date

At
commercial
banks

At
thrift
institutions

19 9 2 - D E C .

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
65.1

353.2
350.1
344.8

APR.
MAY
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 ,
275,
277.

63 .7
63.5

341.6
339.4
339 .0

S3 B E
-

788.3

™

s

1220.7

432.4

i

h

S

S

S

S

£

S

t

a

^

S

:

,

a

i

l

R P S

"

preliminary




66.0

61.8

Total

61.2

306.0

767.8

;s:i

::::

361.9

I i i

177.0

269.8

a r e , h 0 S 6 i S S U 6 d in a m 0 U n , S 0f l e s s , h a n $ 1 0 0

"
'

000

-

A

331.0

sr:

«•*

I i

ii i

B B B E S E

L a r g l - d l n o m i n a t l o n t , Z d e p o s i t s at c Z % c % n k l % T h o & W d b y % , 7 % m % 5 ^
instftutions.
p

At
thrift
institutions

461.8

S a v i n g s d e p o s i t s include m o n e y market deposit accounts.
e

At
commercial
banks 4

8 E

i I; i

8 B E

Total

B E S E E E

"

~i
m
i

t

Large-denomination time deposits 3

Total

Week e n d i n g

-

Institutiononly money
market funds

At
thrift
institutions

APR-

1.

General
purpose and
broker/dealer
money
market funds

At
commercial
banks

~S

2

Small-denomination tfrne deposits 2

E:i B

—
" 'RA and Keogh a c c o u n t b a l a n c e s at commercial b a n k s a n d

' U t i P o s l l o r y institutions, U.S. g o v e r n m e n t , a n d foreign b a n k s a n d official

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

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 9 3 - J A N .
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

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

199 4-JAN.
FEB.
MAR. p

1.

Short-term Treasury
securities'

2.
3.
4.

C o n s i s t s of U.S. Treasury bills and c o u p o n s with remaining maturities of l e s s than 12 months held by other than depository institutions, Federal R e s e r v e Banks, m o n e y market
mutual funds, and foreign entities.
Net of bankers a c c e p t a n c e s held by accepting banks, Federal R e s e r v e Banks, foreign official institutions, Federal Home Loan Banks, and m o n e y market mutual funds
Total commercial paper l e s s commercial paper held by m o n e y market mutual funds.
Debt data are on a monthly a v e r a g e basis, derived by averaging adjacent end-of-month levels, and h a v e b e e n adjusted to r e m o v e discontinuities.

p

preliminary




Page 7
H.6 (508)
Table 5

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Currency1

Date

Travelers
checks 2

Demand
deposits 3

Other checkable deposits

Nontransactions components
In M26

In M3 only7

355. 1

284 . 3

104. 6

388 . 9

2480. 9

670. 5

59. 3

21. 3

345. 9
334. 3
336. 5

289 . 4
284. 2
286 . 5

104. 4
101. 5
1 0 3 ., 0

3 9 3 .. 8
3 8 5 . .7
3 8 9 . .5

2467. 3
2461. 2
2 4 6 4 ..1

654. 6
665. 2
661. 5

60. 0
7
62. 7

295 . 0

7. 8

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

293 . 5
295 . 3
297 . 9

7 .8
7. 7
7 .8

o
vo

Total

19 9 2 - D E C .

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

2 9 1 . .9
2 8 7 .. 6
2 9 0 .. 6

1 0 7 ..3
106. 2
1 0 7 .. 5

399 . 2
393 . 8
3 9 8 . .0

2456. 4
2 4 4 9 . .2
2 4 5 1 . ,2

6 6 2 ..1
671. 2
6 5 9 . ,7

62 . 5
61. 7
64. 8

1 4 . .7
1 3 . .5
1 3 . .7

JULY
AUG.
SEP.

311. 0
312 . 8
314.. 8

8 . 4
8 .4
8 . 2

3 6 5 ..9
3 6 7 ..9
373 . 1

290 .9
292 . 1
295 .0

1 0 8 . .5
1 0 7 .. 7
1 0 8 . .0

399 .3
399 .7
403 .0

2 4 4 5 ..2
2 4 3 9 ..8
2434..1

650..1
6 5 4 . .6
6 5 1 . .2

67 . 7
6 7 ., 4
7 0 . .4

13..5
1 4 ..7
14 .9

OCT.
NOV.
DEC.

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

8 .0
7 ,. 7
7 .6

381..1
391..1
402 .6

295 .6
299 .6
306 .3

1 0 9 . .8
1 1 1 ..4
112 . 4

4 0 5 .3
4 1 0 .9
418 .6

2431..3
2 4 3 5 .3
2432 .0

6 5 2 . .0
659 . 6
6 5 8 ..8

7 0 ..8
7 1 . .7
7 2 ..6

17 .2
17 .4
17 .8

199 4-JAN.
FEB.
MAR.

324 .0
327 .3
3 3 0 .7

7 .7
7 .7
7 .8

393 . 1
3 8 0 ,. 6
3 8 0 .7

306 .8
299 .6
3 0 1 .6

111.. 2
109 . 5
1 1 1 ..3

417 .9
409 .1
4 1 2 .9

2 4 3 2 ..9
2428 .0
2 4 4 5 .7

655 .1
641 .1
633 .9

75 .4
74 .2
77 .6

17 .9
16 .6
18 .0

APR.

334 .4

7 .8

390 .3

306 .4

114 .5

420 .8

2452 .0

632 .4

77 . 1

16 .0

7 . 8
7 .8

378 .4
374 .0

300 .6
297 .7

110 .6
108 .7

411 .2
406 .4

2448 .5
2444 .5

637 .3
632 .4

78 .6
77 .4

18 .5
18 .6

395
396
395
379

306
310
311
302

115
117
115
111

421
427
427
413

2445
2469
2458
2442

627
629
639
633

70
80
80
76

17
16
15
15

1994-MAR.

21
28

330 . 8
330 .8

APR.

4
11
18
25

333
335
334
333

MAY

2
9p
16p

333 . 9
337 .9
337 .2

.8
.3
.1
.4

7
7
7
7

I

. 8
.8
. 8
.8

7 . 8
7 .8 e
7 .9 e
\ r\

8.
9.

Overnight
Eurodollars9

At thrift
institutions5

.8
.0
.4
.1

3 8 1 .7
383 .4
384 .4
D r\

.1
.3
.0
.1

297 .8
302 .3
298 .8

.2
.0
.9
.1

1 1 1 .7
114 .3
111 .6

.2
.2
.0
.2

409 .5
416 .6
410 .4

.2
.3
.4
.0

2434 .8
2440 .4
2443 .6

Lz <-* rin/'J + k

r\ 1

2.
3.
4.
5.
6.
7.

Overnight RPs 8

At commercial
banks4

C o n s i s t s of NOW and A T S b a l a n c e s at commercial banks, U.S. branches and a g e n c i e s of foreign b a n k s and Edqe Act coroorations
C o n s i s t s of N O W and ATS b a l a n c e s at thrifts, credit union share draft b a l a n c e s , and d e m a n d d e p o s i t s at thrifts

by foreign

Digitized forestimated
FRASER


preliminary

.2
.8
.0
.7

630 .5
630 .1
628 .5

.1
.7
.4
.4

73 .8
73 .6
76 .2

.4
.2
.1
.5

16 . 4
15 .0
16 . 1

Page 8

H 6(508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Small denomination time deposits 2

Savings deposits'
Date

Institutiononly money
market funds

Large-denomination time deposits 3

At
commercial
banks

At
thrift
institutions

Total

At
commercial
banks

At
thrift
institutions

Total

1992-DEC.

752 .9

428.1

1181.1

507 . 8

361.2

869 .0

350.2

200.4

291.7

67.2

358.9

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

750 .2
754.0
758.5

427.5
424.7
426.0

1177.7
1178.7
1184.5

504.4
504.7
501.3

356.8
349 .0
344.8

861.3
853.6
846.1

350.6
351.2
354 .8

200.5
208.4
201.1

282.8

66.8

282.5
279.7

65.7
65.0

349 .6
348.2
344.8

APR.
MAY
JUNE

761.9
767 .2
773.6

427 .4
428 .6
430.9

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.

773 . 6
776. 0
776.7

431.4
430.8
429.7

1205.0
1206.9
1206.4

483 .9
479.6
476.7

332.1
328.3
324.9

816.0
807.9
801.5

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.

777.7
784.0
783 . 9

430.0
430.4
429.4

1207.7
1214.4
1213.2

473.3
468.8
467.6

321.6
318.1
313.6

794.9
786.9
781.2

340.7
345.0
347.2

189 .2
194.0
195.8

277.6
276.2
276.0

63 .7
63.6

61.6

341.3
339.8
337.6

1994-JAN.
FEB.
MAR.

786 . 1
7 8 7 ..7
7 9 1 . .3

428
427
432

.0
,. 9
.2

1 2 1 4 ,. 1
1215 .6
1223 .6

465 . 6
463 . 8
462 . 1

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

777 .3
772..1
7 6 8 . .9

348 .1
349 . 4
3 5 7 ,. 6

1 9 6 , .2
186..1
1 8 0 ,.5

276 .5
272 .3
269 .8

61..4
6 1 ..3
6 0 ,.9

337 .8
333 .6
3 3 0 .7

APR.

790 . 6

4 3 3 ..7

1 2 2 4 ,. 3

461.. 3

3 0 5 ,.7

767 .0

3 6 7 ,. 6

176 .2

269 .2

61..0

330 .2

432 .5
432 .4

1 2 2 3 ,. 4
1 2 2 1 ..6

462 . 1
461,. 9

306,.6
3 0 6 ,. 4

7 6 8 . .7
7 6 8 . .3

3 5 9 ,. 3
3 5 8 .6

184 .1
179 .7

270 .6
270 .0

6 0 ,. 8
6 0 ,. 8

331 . 4
3 3 0 .7

435
436
433
430

1231.. 1
1235.. 9
1 2 2 5 .7
1 2 1 3 ..7

461 . 6
4 6 1 ,.3
461 . 1
4 6 0 ,.9

306 .6
306 .3
305 .8
305..1

768 .2
7 6 7 . .6
7 6 6 ..9
7 6 6 . .0

3 5 8 ,. 4
368 .8
3 7 0 .2
3 7 0 . .5

175
176
180
174

263
267
268
272

61
61
61
61

324
328
329
333

. 5
.4
..7

462 . 1
4 6 2 ,. 6
4 6 3 ,. 1

304 .8
3 0 4 ,.6
303 . 8

7 6 6 , .9
7 6 7 . .2
7 6 6 . .9

3 6 5 ..3
365..1
3 6 4 . .7

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

1994-MAR.

21
28

790 . 9
7 8 9 ,. 2

APR.

4
11
18
25

795
799
791
782

,.
.
.
.

MAY

2
9p
16p

781
786
786

., 5
.4
, 6

5
1
9
8

.6
.9
.9
.9

431,.0
4 3 3 ,. 0
4 3 3 ,. 1

1212
1219
1219

1.

S a v i n g s d e p o s i t s include m o n e y market deposit accounts.

2

S

-

General
purpose and
broker/dealer
money
market funds

s

"

"

, h 0 S e iSSUed

a m 0 U n , S 01 l e s s l h a

"

1100

-000'

A

"

IRA a

"d

.9
.6
,. 8
.4

At
commercial
banks 4

.4
.0
.7
.7

274 .0
275,.0
2 7 6 , .0

At
thrift
institutions

.2
.1
.0
.0

6 0 ,. 9
6 0 ,. 4
60,.3

b a l a n c e s a. c o m m a , t i a ,

3.
4.

Large-denomination time d e p o s i t s are t h o s e i s s u e d in amounts of $ 1 0 0 , 0 0 0 or more, excluding t h o s e b o o k e d at international bankina facilities
Large-denomination time d e p o s i t s at commercial banks l e s s t h o s e held by m o n e y market mutual funds, depository institutions, U.S. government, and foreign b a n k s
and official institutions.
'

p

preliminary




Total

.5
.2
.7
.6

334 . 9
335 . 4
336 .3

Page 9
H.6 (508)
Table 5 - continued

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

At commercial
banks

At thrift
institutions

Total

Term
Eurodollars2

Savings bonds

Short-term
Treasury
securities3

Bankers
acceptances 4

Commercial
paper5

19 9 2 - D E C .

61. 1

20. 0

81. 1

45. 6

156. 4

345. 3

21. 4

366. 3

3069. 8

8653 . 5

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
3 4 1 . .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

1 6 4 ..2
165..2
166..1

333.. 4
3 3 5 ..2
338.. 5

1 8 ..7
19.. 1
18..5

3 6 9 . .7
366. 7
3 6 9 .. 5

3142. 9
3161.,1
3 1 8 8 . .9

8698 . 8
8722 . 8
8 7 5 7 .. 4

JULY
AUG.
SEP.

7 2 ..7
7 1 . .9
71,.1

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

9 6 ..4
9 6 ..0
95 .6

4 1 . .9
44..1
4 5 ..2

167 . 0
167 .8
168 .7

337 . 4
340 .4
324 .2

17.. 4
16 . 3
15 . 9

367 . 3
374..6
380 .2

3201..8
3229..4
3251..9

8796..1
8824..4
8860..3

OCT.
NOV.
DEC.

70 .2
69 . 3
70 .3

24 .0
2 4 .7
25 .0

94 .2
94 .0
95 .3

4 4 ..9
48 .5
46 .4

169 .6
170 .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

199 4-JAN.
FEB.
MAR.

65 .8
63 . 4
66 .0

25 .5
25 .9
25 .1

91 .3
89 .3
91 .2

45 .4
48 . 1
47 . 5

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

9007 .0
9028 .7
9062 .8

APR.

68 . 1

25 . 1

93 .2

48 .3

21
28

65 .2
65 .7

25 .3
24 .8

90 .4
90 .5

48 .0
47 . 8

APR.

4
11
18
25

71
67
69
66

95
92
94
92

46
48
49
49

MAY

2
9p
16p

66 .7
65 . 6
62 .0

Date

Week
1994-MAR.

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

Debt components 6

Non-M3 Components of L

Term RPs1

.5
.5
.5
.5

24
24
25
25

.4
.8
.4
.7

24 .9
25 .9
26 .0

.9
.2
.9
.3

91 .6
91 .5
88 . 0

Federal debt

p

Non Federal
debt

p

.6
.4
.3
.0

47 . 3
47 . 4
48 . 1

Term Eurodollars are t h o s e with original maturities greater than o n e day. C o n s i s t s of t h o s e i s s u e d to U.S. residents by foreign b r a n c h e s of U.S. b a n k s world-wide and by all
banking offices in the United Kingdom and Canada. Excludes t h o s e held by depository institutions and m o n e y market mutual funds.
C o n s i s t s of U.S. Treasury bills and c o u p o n s with remaining maturities of l e s s than 1 2 months held by other than depository institutions, Federal R e s e r v e B a n k s m o n e y market
mutual funds, and foreign entities.
Net of bankers a c c e p t a n c e s held by accepting banks, Federal R e s e r v e Banks, foreign official institutions, Federal H o m e Loan Banks, and m o n e y market mutual funds
Total commercial paiper l e s s commercial paper held by m o n e y market mutual funds.
Debt data are on a monthly a v e r a g e basis, derived by averaging adjacent end-of-month levels, and h a v e b e e n adjusted to remove discontinuities

p
preliminary



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

5.2

6.0

14 . 3

6.1

1.6

10.1
10.3
10.5

4.3
4.2

7.7
5.9
5.4

1.7

10.8

1.6

11.1
11.5

5.8
4.2
5.4

1.5

11.5
11.2
10.8

8.3
8.2
9.2

1.6
1.8
1.6

199 4-JAN,
FEB.
MAR.

8.5
8.3
7.9

1.6

APR.

At
commercial
banks

25 .5

2.6

147..2

27 . 0
25 .2
13 . 2

40 . 8
35 . 4
22 . 8

2.0
2.5
2.4

6.2
5.8
8.1

14 . 5
16 . 1
21 .1

26 .5
26 . 1
34 .6

4.2
3.8
5.5

6.9
5.7
9.3

21 .4
20 .0
23 .2

10.7
10.8
10.9

4.5
4.0
5.2

5.9
5.6
6.7

1.6

11.0
11.0
11.0

5.7
4.2
4.3

8.4

1.6

11.0

7.8
7.9

1.7

11.0

1.8

11.0

1.5
1.5
1.7
1.4

11.0

25

8.3
9.4
7.9
8.0

11.0
11.0
11.0

2
9p
16p

8.1
8.3
8.1

1.8

11.0

1.4
1.5

11.0

Foreign
commercial
banks

Foreign
official
institutions

19 9 2 - D E C .

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
8.2

1.6

JULY
AUG.
SEP.

8.5
8.1
8.5

1.7

1.6

OCT.
NOV.
DEC,

Week e n d i n g
1994-MAR. 21

28
APR.

4

11
18

MAY

IRA and Keogh Accounts
Time and
savings
deposits at
commercial
banks

Date

e
p

Time and
savings
deposits due
to foreign
banks and

estimated
preliminary




1.5

official
institutions
,

® '

11.0

6

Note
balances at
depository
institutions

Total
cash
balance

At
thrift
institutions

A*
5
7unds

Total

1 2 4 . ,9

45..4

317.4

147..2
1 4 6 . .9
1 4 7 . .7

123. 7
122. 6
121. 2

44..6
45..6
45..6

315.6
315.1
314.4

1.5
2.6
3.0

148..0
1 4 6 . .9
146..5

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

45..1
46,.0
4 6 , .7

313.0
312.0
311.7

32 . 5
29 . 5
37 . 9

2.8
3.1
2.8

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

118..1
1 1 7 . .8
1 1 7 ..4

47..3
47 . 4
4 7 .. 5

311.8
311.2
310.7

12 . 6
8 .8
16, . 2

23.. 1
1 8 .. 4
28.. 1

2.6
2.7
2.6

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

1 1 7 ..6 e
118..0 e
117..5 e

4 8 .. 1 e
49.. 1 e
49..8 e

310.9
311.7
311.4

7.3
6.3
5.2

25 .2
2 7 . .9
1 5 . .7

3 8 . .3
3 8 . .4
25..1

2.1
2.5
2.4

1 4 3 . .9
1 4 3 ..6
1 4 2 ..6

1 1 6 ..6 e
116..1 e
1 1 5 ..5 e

5 0 .. 1 e
5 0 . .7 e
5 1 , .3 e

310.6 e
310.4 e
309.5 e

7.1

5.6

2 0 . .8

3 3 . .6

2.0

142..1

115,.0 e

52 . 3 e

309.4 e

5.8
3.4

5.7
4.6

1 9 . .6
2 0 . .0

31..1
2 8 . ,0

2.4
2.3

5.3
3.9
14.0
5.1

6.3
4.3
4.8
6.6

1 7 . .0
9. 2
10. 5
32. 1

28.
17.
29.
43.

6
4
3
8

1.9
1.0
1.0
3.3

6.3
3.6
4.5

6.5
7.2
6.3

38. 8
39. 4
15. 6

51. 6
50. 2
26. 4

3.2
3.1
3.1

e
e
e