Full text of H.6 Money Stock Measures : May 3, 1990

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

y ^ ^

FEDERAL RESERVE statistical release
These data are scheduled for release each Thursday at 4:30 p.n.

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H.6 C508I
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

MAY

Billions of dollars
Date

M1 J

M2 2

3, 1990

Debt 5

M3 d
Seasonally adjusted

1988-APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

770.1
773.1
778.9
783.4
784.4
784.8
785.1
786.0
787.5

2999
3013
3026
3033
3037
3041
3048.8
3064.1
3072.4

3785.4
3805.0
3827.3
3847.1
3858.1
3867.2
3883.8
3903.5
3918.4

4476.4
4506.3
4528.7
4567.8
4584.8
4593.0
4613.8
4644.1
4676.0

8547.0
8616.5
8686.0
8749.9
8814.6
8877.0
8936.6
9009.5
9070.7

1989-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

785.8
786.7
785.5
782.1
776.2
773.7
779.1
780.4
782.9
788.1
789.4
794.8

3073.
3078.
3086.
3089.
3085.
3101.
3127.
3146.
3163.
3181.
3200.
3220.

3926.
3936.
3956.
3965.
3965.
3984.
4007.
4012.
4012.
4016.
4028.
4040.

4682.7
4699.8
4732.0
4757.0
4756.6
4778.8
4803.8
4817.3
4822.7
4831.2
4846.5
4864.4

9125.4
9191.6
9252.1
9308.8
9368.7
9422.3
9472.2
9537.3
9594.4
9661.3
9732.5
9771.6

1990-JAN.
FEB.
MAR.

794.7
801.2
804.6

3229.1
3253.9
3267.8

4045.8
4063.1
4066.0

4864.6
4876.1 p

9815.8
9877.8 p

1988-APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

779.2
764.7
779.9
786.9
782.4
781.1
782.2
788.3
804.5

3010.
2999.
3024.
3039.
3037.
3034.
3046.
3067.
3085.

3792.0
3790.7
3821.7
3845.8
3857.5
3864.5
3884.1
3912.4
3932.5

4480.4
4493.6
4522.7
4558.3
4579.8
4588.7
4613.6
4652.2
4692.7

8506.7
8573.3
8645.6
8707.5
8768.6
8839.2
8903.1
8977.7
9056.0

1989-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

793.5
773.0
775.9
791.6
767.7
774.4
782.3
778.1
779.1
785.0
791.7
812.1

3085.6
3065.8
3080.7
3100
3071
3099
3132
3146
3156
3178
3204
3232

3935.5
3925.7
3954.4
3971.1
3950.7
3978.5
4005.4
4011.7
4009.1
4016.3
4038.4
4054.7

4700.5
4694.4
4729.7
4759.9
4744.9
4771.6
4792.9
4812.0
4818.2
4831.2
4855.4
4881.8

9109.5
9155.6
9211.4
9267.3
9326.2
9383.2
9431.5
9494.2
9559.7
9630.4
9701.9
9757.0

1990-JAN.
FEB.
MAR.

802.2
787.8
795.4

3240.8
3241.9
3262.6

4054.9
4051.7
4064.7

4883.2
4871.1 p

9805.7
9850.7 p

Not seasonally adjusted

Footnotes appear on the following page,
p—indicates preliminary data.




H.6 (508)
Table 2

MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates

Ml

M2

M3

Debt1

3 Months from DEC. 1989 TO MAR. 1990

4.9

5.9

2.5

6.0

6 Months from SEP. 1989 TO MAR. 1990

5.5

6.6

2.7

7.1

12 Months from MAR. 1989 TO MAR. 1990

2.4

5.9

2.8

7.5

JAN. 22, 1990 (13 weeks previous)

5.5

6.3

3.0

OCT. 23, 1989 (26 weeks previous)

5.1

6.5

2.6

APR. 24, 1989 (52 weeks previous)

2.4

5.8

2.9

Thirteen weeks ending APRIL 23, 1990
from thirteen weeks ending:

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely,
November 1989 to February 1990, August 1989 to February 1990, and February 1989 to February 1990, respectively.
Footnotes to Table 1
Consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutionsj
(2) travelers checks of nonbank issuers) (3) demand deposits at all commercial banks other than those due to depository
institutions,
U.S. ^
government,, and foreign
institutions,, less cash items in
lee
.-----_, the
—
5,.. banks and official
_.
... the process of col
collection
and Federal Reserve float) and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NOW) and
au
. ? D - 1 5 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, money market deposit accounts (MMDAs), savings and
small-denomination time deposits (time deposits—incuding 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 foreion 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,
f 11 ?J ? r e *9 n ,9? n ks 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 Z.l. In those releases, published levels of credit market debt are measured on a quarter-end
basis and include discontinuities.

f




i

H.6 ( 5 0 8 )
Table 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjusted
Ml

Period ending

13-week
average

4-week
average

M3

M2
week
average

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

792.8

794.6

792.6

3216.0

3228.6

3235.3

4038.0

4045.8

4047.4

FEB.

5
12
19
26

793.6
794.5
795.3
796.4

795.1
796.2
797.6
800.7

798.5
798.9
800.5
804.8

3220.0
3224.1
3228.2
3232.5

3234.5
3240.6
3246.2
3252.7

3246.8
3249.3
3253.3
3261.3

4040.9
4043.3
4045.8
4048.8

4049.2
4053.2
4057.3
4062.5

4058.9
4060.0
4062.9
4068.0

MAR.

5
12
19
26

797.6
798.4
799.2
799.8

802.8
803.7
804.2
804.2

806.9
802.5
802.5
804.8

3236.5
3240.6
3244.3
3247.7

3257.5
3261.5
3264.9
3267.8

3265.9
3265.5
3267.0
3272.6

4051.1
4053.2
4055.1
4057.1

4064.9
4066.2
4067.0
4067.2

4068.6
4065.4
4066.1
4068.5

APR.

2
9
16p
23p

800.4
801.2
802.4
803.2

804.4
805.3
807.3
807.5

807.9
806.0
810.4
805.6

3251.1
3255.1
3259.2
3262.8

3268.4
3270.8
3273.4
3274.9

3268.4
3275.2
3277.4
3278.6

4058.6
4060.8
4063.7
4065.8

4065.2
4067.3
4071.1
4072.4

4060.8
4073.6
4081.6
4073.6

1990-JAN. 29

Not seasonally adjusted
Ml

Period ending
1990-JAN. 29

13-week
average

4-week
average

M2
week
average

13-week
average

4-week
average

M3
week
average

13-week
average

4-week
average

week
average

802.5

802.7

774.6

3225.9

3241.6

3215.4

4049.6

4055.9

4026.8

FEB.

5
12
19
26

802.3
802.1
801.6
801.0

793.8
788.2
786.1
787.5

794.0
789.9
785.9
780.1

3228.9
3231.8
3234.4
3237.4

3236.1
3233.5
3234.9
3240.6

3241.7
3241.5
3241.1
3238.1

4050.9
4051.8
4052.6
4053.4

4050.0
4046.0
4046.1
4050.8

4052.6
4054.5
4050.6
4045.4

MAR.

5
12
19
26

800.9
800.3
799.2
797.3

789.0
791.0
793.1
794.5

800.0
798.0
794.1
785.7

3240.1
3242.7
3245.4
3247.4

3245.3
3251.0
3256.2
3260.3

3260.6
3264.3
3261.6
3254.7

4054.5
4055.4
4056.6
4057.2

4054.2
4057.5
4060.5
4063.4

4066.3
4067.5
4062.8
4057.1

APR.

2
9
16p
23p

795.4
794.9
796.3
798.0

795.0
801.2
810.2
818.0

802.2
822.8
830.0
817.0

3249.6
3252.7
3256.4
3260.1

3263.9
3273.8
3283.4
3290.5

3274.8
3303.9
3300.0
3283.3

4057.8
4059.6
4061.9
4063.4

4064.8
4072.8
4081.9
4085.2

4071.6
4099.6
4099.3
4070.3

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
Nontransact ions
components

Other checkable deposits

Date

Currency

1

Travelers
checks 2

Demand
deposits3

At
commercial
banks 4

At
thrift
institutions5

Total

In M 2

6

In M3
only 7

General purpose
and broker/dealer
money market funds

1988-NOV.
DEC.

210.7
211.8

7.5
7.5

287.4
287.0

192.4
192.9

88.0
88.4

280.4
281.3

2278.0
2284.9

839.4
845.9

238.2
240.9

1989-JAN.
FEB.
MAR.

213.2
214.1
215.3

7.6
7.5
7.3

284.5
284.9
283.9

192.1
192.1
191.7

88.4
88.1
87.4

280.6
280.2
279.1

2287.8
2291.4
2301.4

852.5
858.7
869.6

243.9
247.2
253.4

APR.
MAY
JUNE

215.7
216.6
217.2

7.3
7.3
7.2

281.3
279.6
276.3

191.4
188.5
188.7

86.5
84.3
84.3

277.9
272.8
273.0

2307.3
2309.1
2327.9

875.
880.
883.

257.8
261.2
268.3

JULY
AUG.
SEP.

217.8
218.6
219.3

7.2
7.2
7.2

279.6
278.5
278.1

189.8
191.1
192.4

84.6
85.0
86.0

274.
276.
278.

2347.
2366.
2380.

880.
865.
848.

277.7
287.8
295.9

OCT.
NOV.
DEC.

220.0
220.4
221.9

7.3
7.4
7.4

280.0
278.8
279.7

194.2
195.9
197.9

86.6
86.9
87.8

280.8
282.8
285.7

2393,
2411.
2425.

834.
828.
820,

302.
309.
311,

1990-JAN.
FEB.
MAR.

224.6
226.6
228.4

7.5
7.6
7.6

277.3
280.2
279.3

198.0
199.2
200.9

87.3
87.6
88.3

285.3
286.8
289.2

2434.4
2452.7
2463.3

816.7
809.2
798.1

318.0
326.3
327.4

227.8

7.6

Week ending
282.4

199.3

87.7

287.0

2456.5

806.7

327.8

MAR.

5
12
19
26

227.7
227.5
228.3
229.3

282.0
278.9
278.2
278.8

201.3
200.3
200.2
200.8

88.
88.
88.
88.

289.
288.
288.
289.

2459.
2463,
2464,
2467.8

802.
799.
799.
795.

325,
327.
328.
328.

APR.

2
9
16p
23p

229.5
229.1
230.4
230.2

280.1
278.0
280.4
275.8

202
202
202,
203,

88.7
88.8
89.2
88.7

290.8
291.3
292.0
292.1

2460,
2469,
2467,
2473,

792.
798.
804.
795.

328.2
327.7
326.9
327.2

1990-FEB. 26

1.
2.

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 NOW 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), MMDAs and savings 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 overniqht 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

Money msirket deposit accounts
At

<
commercial
Date

banks

At
thrift
institutions

Total

At
At
commercia.1
thrift
banks
institutions

Small-denesmination time deposits 2

Total

At
commercial
thr *t
banks
institu- ons

Total

Large-denomination time deposits 3
At
At
thrift
commercial
4
institutions
banks

Total

1988-NOV.
DEC.

353.3 ,
350.2

152.2
150.1

505.5
500.3

193.0
192.0

236.3
235.9

429.3
427.8

440.4
447.5

581.4
583.5

1021.8
1031.0

363.6
368.2

173.5
172.9

537.1
541.1

1989-JAN.
FEB.
MAR.

345.6
342.2
339.7

147.1
143.3
140.2

492.6
485.6
479.9

190.2
189.3
188.1

234.0
231.6
229.8

424.2
421.0
417.9

455.5
465.0
474.7

587.2
589.3
591.7

1042.7
1054.2
1066.4

373.2
379.4
386.0

173.5
173.9
174.1

546.7
553.3
560.1

APR.
MAY
JUNE

337.0
331.7
331.0

136.2
131.5
130.0

473.2
463.1
460.9

185.8
183.1
182.3

226.2
222.3
221.1

412.0
405.4
403.4

486.3
497.3
501.8

597.8
605.7
612.2

1084.1
1103.0
1114.0

392.2
395.7
397.1

176.1
177.4
177.8

568.3
573.1
574.9

JULY
AUG.
SEP.

333.9
337.9
340.8

130.1
130.4
131.0

463.9
468.2
471.9

183.0
183.9
184.9

220.3
220.0
220.6

403.3
404.0
405.5

505.8
510.4
513.3

616.6
619.6
619.2

1122.4
1130.0
1132.6

398.7
397.8
397.2

176.0
172.7
168.4

574.7
570.5
565.6

OCT.
NOV.
DEC.

343.7
348.5
351.5

131.6
132.3
132.2

475.3
480.8
483.7

185.9
187.3
188.5

220.3
220.5
220.5

406.1
407.9
409.0

519.7
524.4
528.6

616.2
614.1
613.7

1135.9
1138.5
1142.2

398.8
401.5
401.5

163.8
159.5
156.8

562.7
561.0
558.3

1990-JAN.
FEB.
MAR.

352.4
355.9
359.0

132.5
133.4
135.8

484.9
489.3
494.8

189.8
191.8
193.4

220.4
221.8
221.2

410.2
413.6
414.6

531.5
534.8
537.3

611.1
606.3
606.0

1142.5
1141.1
1143.3

401.2
399.4
396.8

152.9
150.0
147.1

554.1
549.4
543.9

356.6

133.5

490.1

192.1

222.1

414.2

535.3

606.7

1142.0

398.7

149.1

547.8

Heek ending
1990-FEB. 26
MAR.

5
12
19
26

356.8
358.2
359.7
360.3

133.8
135.7
136.1
136.3

490.5
493.9
495.8
496.6

193.0
193.0
193.5
193.6

222.2
220.9
220.8
221.1

415.2
413.9
414.3
414.6

535.9
536.5
537.1
538.3

606.8
606.9
606.4
605.8

1142.7
1143.4
1143.5
1144.0

397.5
399.7
397.4
395.4

148.1
147.8
147.5
146.2

545.5
547.6
544.9
541.5

APR.

2
9
16p
23p

360.0
360.8
361.8
362.6

136.6
136.9
136.8
136.4

496.6
497.7
498.6
499.0

194.3
194.2
194.4
193.0

221.1
221.8
222.3
221.5

415.3
416.0
416.7
414.6

538.6
540.2
542.2
544.3

604.0
604.7
604.4
601.9

1142.6
1144.9
1146.6
1146.1

393.0
395.2
396.7
397.9

145.9
145.0
143.8
141.4

538.9
540.2
540.5
539.3

Savings deposits exclude MMDAs.
Small-denomination time deposits — including 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,
•indicates preliminary data.




H.6 ( 5 0 8 )
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions

of

dollars,

seasonally

6

adjusted

Debt c o m p o n e n t s 4

Non-M3 Components o f L
Institutiono n l y money
market funds

Date

Savings
bonds

Short-term
Treasury
securities1

Bankers
acceptances2

Commercial
paper3

Federal
debt

Non-Federal

debt

1988-NOV.
DEC.

86.6
87.1

108.9
109.3

264.7
272.0

40.4
40.6

326.7
335.6

2098.2
2113.5

6911.3
6957.2

1989-JAN.
FEB.
MAR.

87.1
86.9
86.3

109.8
110.7
111.5

270.5
268.1
274.2

40.6
40.6
41.4

335.7
343.6
348.3

2121.8
2137.8
2158.7

7003.6
7053.9
7093.4

APR.
MAY
JUNE

88.3
92.1
96.3

112.2
112.8
113.6

280.0
288.1
289.6

41.5
41.2
41.2

358.2
348.8
349.4

2168.8
2176.4
2184.2

7140.0
7192.3
7238.1

JULY
AUG.
SEP.

99.0
101.4
101.6

114.3
115.0
115.7

290.9
293.3
303.7

41.9
42.6
41.0

349.5
354.3
350.3

2184.1
2200.7
2220.7

7288.2
7336.6
7373.7

OCT.
NOV.
DEC.

101.1
101.1
102.3

116.2
116.8
117.5

308.9
309.3
317.1

40.0
40.5
41.2

350.0
351.3
347.9

2238.2
2258.5
2265.4

7423.1
7474.0
7506.2

1990-JAN.
FEB.
MAR.

103.2
103.7
105.4

117.7
118.2 p

317.0
311.8 p

40.7
38.3 p

343.3
344.7 p

2276.1
2297.4 p

7539.7
7580.4

Neek

p

ending

1990-FEB.

26

104.7

MAR.

5
12
19
26

104.0
105.1
105.9
106.3

APR.

2
9
16p
23p

105.3
107.1
107.3
107.4

Consists^of U.S.^Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions,
Federa^ 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.
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.
2.




H.6 ( 5 0 8 )
Table 5

COMPONENTS OF MONEY STOCK. LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Other checkable deposiits

Currency1

Date

Demand
Travelers
checks 2 deposits3

At
commercial
banks 4

At
thrift
institutions5

Nontransactions
components

Total

In M2 6

In M3
only7

Overnight
RPs 8

Overnight
Eurodollars9

General purpose
and broker/dealer
money market funds

1988-NOV.
DEC.

211.3
214.8

7.1
6.9

290.2
298.9

191.4
195.2

88.3
88.6

279.7
283.8

2278.9
2280.8

845.2
847.3

70.0
69.9

13.0
13.4

238.5
240.5

1989-JAN.
FEB.
MAR.

211.7
211.9
213.9

7.0
7.1
7.0

290.5
275.8
276.0

196.4
192.3
192.7

87.9
85.9
86.3

284.3
278.2
279.0

2292.0
2292.8
2304.8

849.9
859.9
873.7

69.9
68.2
67.7

16.6
15.1
14.3

242.9
248.4
256.8

APR.
MAY
JUNE

215.1
216.6
218.4

7.0
7.1
7.5

283.3
273.6
276.7

197.6
186.2
187.0

88.7
84.1
84.8

286.3
270.3
271.8

2308.5
2303.5
2324.7

870.9
879.6
879.4

64.1
63.2
65.0

14.4
14.6
14.6

260.7
260.7
266.8

JULY
AUG.
SEP.

219.7
219.2
218.6

8.1
8.1
7.7

281.8
277.1
276.3

187.4
188.7
190.7

85.3
85.0
85.9

272.7
273.7
276.5

2350.4
2368.3
2377.2

872.7
865.3
852.8

64.1
63.1
59.3

16.8
15.2
15.5

275.6
286.8
294.9

OCT.
NOV.
DEC.

218.9
221.0
225.3

7.3
7.0
6.9

280.7
281.5
291.6

191.6
194.9
200.3

86.5
87.2
88.1

278.1
282.1
288.4

2393.9
2412.6
2420.8

837.3
834.1
821.8

61.2
61.7
62.5

14.1
13.2
14.3

301.3
309.7
311.2

1990-JAN.
FEB.
MAR.

222.9
224.3
227.0

7.0
7.2
7.3

283.0
271.4
271.7

202.4
199.5
202.1

86.9
85.5
87.4

289.3
285.0
289.4

2438.6
2454.0
2467.2

814.1
809.8
802.0

63.9
66.7
65.9

16.9
14.8
14.8

316.8
327.8
332.0

Meek ending
223.6

7.2

267.9

197.5

83.9

281.4

2458.0

807.2

67.9

15.0

330.6

MAR.

5
12
19
26

226.0
227.2
227.1
226.8

7.3
7.3
7.3
7.3

275.1
272.4
271.2
266.1

203.8
203.1
201.4
199.8

87.9
88.1
87.1
85.8

291.6
291.2
288.5
285.5

2460.7
2466.3
2467.5
2469.1

805.6
803.1
801.3
802.4

68.1
65.5
66.6
65.8

14.1
14.9
13.6
15.7

329.2
331.7
332.6
333.2

APR.

2
9
16p
23p

227.2
230.8
230.4
228.9

7.3
7.2 e
7.2 e
7.2 e

276.8
281.3
286.4
278.3

202.5
210.6
212.7
211.9

88.3
92.9
93.2
90.7

290.9
303.5
305.9
302.7

2472.6
2481.1
2470.0
2466.3

796.8
795.7
799.3
787.0

63.2
63.7
60.1
64.1

15.9
15.8
12.0
16.3

332.3
332.4
332.1
331.2

1990-FEB. 26

1.
2.

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-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 NON and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
5.
Consists of NON 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), MMDAs and savings 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,
Digitizedp—indicates
for FRASER
preliminary data.


H.6 (508)
Table 5-continued

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

At

Small-denomination time deposits 2

Savings deposits1

Money market deposit accounts

At
At
thrift
commerciail
institutions
banks

At
At
thrift
commercial
institutions
banks

Large-denomination time deposits 3
At
At
thrift
commercial
institutions
banks 4

banks

At
thrift
institutions

Total

1988-NOV.
DEC.

354.8
353.2

152.6
150.6

507.4
503.8

192.7
190.6

236.3
234.2

429.0
424.8

439.7
446.0

581.4
582.4

1021.1
1028.4

364.1
366.9

175.7
174.2

539.7
541.1

1989-JAN.
FEB.
MAR.

349.1
343.8
341.2

147.3
143.2
140.6

496.5
487.0
481.7

189.3
187.9
187.8

232.3
229.2
229.3

421.5
417.1
417.0

455.2
465.4
475.7

589.4
591.6
591.4

1044.6
1057.0
1067.1

371.3
379.2
388.8

174.6
174.3
173.3

545.9
553.5
562.1

APR.
MAY
JUNE

337.2
328.0
329.0

135.6
130.7
129.6

472.8
458.8
458.6

186.3
183.7
183.5

226.6
222.7
222.7

412.9
406.4
406.2

486.3
496.0
502.5

597.4
603.8
611.0

1083.7
1099.8
1113.5

392.2
396.1
396.4

174.4
176.4
176.1

566.6
572.5
572.6

JULY
AUG.
SEP.

331.5
336.4
339.6

129.8
130.6
131.1

461.4
467.0
470.6

184.7
184.4
184.4

222.7
220.5
220.3

407.3
404.9
404.6

507.1
511.3
513.9

618.0
619.9
618.2

1125.1
1131.2
1132.1

396.5
398.4
398.6

174.2
172.0
168.8

570.7
570.4
567.4

OCT.
NOV.
DEC.

342.7
350.3
355.0

131.8
132.8
132.8

474.6
483.1
487.8

185.9
187.1
187.2

221.3
220.5
219.0

407.2
407.6
406.2

519.2
523.1
526.4

616.3
614.2
612.3

1135.5
1137.3
1138.7

399.9
401.9
399.8

165.5
161.7
158.3

565.4
563.6
558.1

1990-JAN.
FEB.
MAR.

356.3
357.7
360.6

132.9
133.3
136.2

489.2
491.0
496.8

189.0
190.5
193.2

218.8
219.5
220.8

407.8
410.0
414.1

530.8
535.3
538.4

613.2
608.5
605.3

1144.0
1143.7
1143.7

398.9
399.1
399.7

154.0
150.4
146.2

552.9
549.6
545.9

357.9

133.2

491.1

190.8

219.2

410.0

536.0

607.4

1143.4

398.8

149.1

548.0

<commercial
Date

Total

Total

Total

Week ending
1990-FEB. 26
MAR.

5
12
19
26

358.9
360.5
361.2
360.7

134.1
136.5
136.6
136.4

492.9
497.0
497.7
497.2

191.9
192.6
193.3
193.5

220.6
220.3
220.7
220.6

412.4
413.0
414.0
414.2

536.9
538.0
538.1
539.1

607.0
606.2
604.7
604.0

1143.9
1144.2
1142.9
1143.1

398.6
401.6
399.5
400.0

147.6
147.2
146.4
145.1

546.3
548.8
545.9
545.1

APR.

2
9
16p
23p

362.1
365.0
364.7
360.9

136.7
137.6
136.7
134.9

498.9
502.5
501.4
495.8

195.0
196.2
195.1
192.7

222.2
224.2
223.3
220.8

417.2
420.4
418.4
413.5

539.9
541.0
542.3
544.4

605.2
605.3
603.8
601.1

1145.0
1146.2
1146.1
1145.5

397.5
397.6
396.5
395.8

144.9
143.7
142.1
139.8

542.4
541.2
538.6
535.6

Savings deposits exclude MMDAs.
Small-denomination time deposits — including 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.
Largeydenomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, and foreign banks and
official•institutions.
•-indicates preliminary data.




H.6 ( 5 0 8 )
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Term RPs 1
At
At
Institutionthrift
only money commercial
institutions
banks
market funds

Date

Debt components 6

Non-M3 Components of L

Total

Term
Eurodollars2

Savings
bonds

Short-term
Treasury
securities31

Bankers
acceptances4

Commercial
paper 5

Federal
debt

Non-Federal
debt

1988-NOV.
DEC.

87.4
87.6

45.3
40.4

80.3
81.4

125.7
121.7

101.8
106.0

108.7
109.2

270.2
277.5

40.9
41.0

320.0
332.5

2090.0
2111.8

6887.7
6944.2

1989-JAN.
FEB.
MAR.

89.3
89.6
87.6

40.9
44.8
46.3

82.1
81.9
82.6

123.0
126.7
128.9

100.6
100.1
105.7

110.1
111.0
111.7

275.2
271.6
273.7

40.3
39.8
40.4

339.4
346.3
349.4

2121.4
2133.7
2149.0

6988.1
7022.0
7062.3

APR.
MAY
JUNE

87.7
91.6
95.1

43.8
43.7
43.7

82.5
83.8
84.7

126.3
127.5
128.4

100.3
97.2
93.4

112.4
113.0
113.7

279.3
283.8
282.7

41.0
41.2
41.5

356.1
356.2
355.4

2155.1
2159.5
2165.1

7112.2
7166.7
7218.1

JULY
AUG.
SEP.

98.2
100.6
99.2

45.0
45.1
47.5

78.8
71.8
65.5

123.8
116.9
112.9

91.8
89.6
85.3

114.2
114.7
115.4

282.3
289.8
304.2

42.2
42.7
41.6

348.8
353.1
348.0

2163.7
2179.6
2200.9

7267.8
7314.6
7358.8

OCT.
NOV.
DEC.

98.7
102.1
102.9

47.8
49.1
44.8

60.5
58.1
50.0

108.3
107.2
94.8

80.0
79.2
81.1

116.0
116.6
117.3

312.8
316.1
323.4

40.4
41.0
41.7

345.8
343.3
344.7

2222.6
2250.8
2264.2

7407.8
7451.0
7492.8

1990-JAN.
FEB.
MAR.

106.0
107.0
106.8

46.0
49.6
47.6

45.4
45.2
45.3

91.4
94.8
92.9

75.9
71.8
69.8

118.0
118.5 p

322.7
315.8 p

40.4
37.5 p

347.3
347.6 p

2275.5
2292.5 p

7530.2
7558.2 p

Meek ending
107.9

49.4

44.7

94.1

69.6

MAR.

5
12
19
26

106.4
107.1
106.6
107.1

47.5
47.6
47.3
49.3

45.1
45.3
45.3
45.7

92.6
92.8
92.6
95.0

72.4
68.3
69.9
68.3

APR.

2
9
16p
23p

106.4
106.9
106.6
104.9

45.4
45.6
49.6
45.1

45.3
45.8
45.9
45.9

90.7
91.5
95.5
90.9

71.1
69.7
71.8
68.9

1990-FEB. 26

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 bankinq 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.
p--indicates preliminary data.




H.6 ( 5 0 8 )
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 depos;its
Time and savinas
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
at commercial commercia 1 m thrift
institutions
banks
banks

At
money
market
funds

Total

1988-NOV.
DEC.

9.2
9.5

1.8
1.9

4.0
3.9

3.4
4.2

5.2
5.5

12.8
18.7

21.5
28.4

1.4
1.5

93.3
93.9

121.8
122.6

19.6
20.5

234.7
237.0

1989-JAN.
FEB.
MAR.

9.3
9.4
8.8

1.8
1.8
1.7

4.0
4.1
4.2

4.0
3.7
3.8

8.1
5.8
5.2

21.0
22.2
14.3

33.1
31.7
23.3

1.3
1.3
1.3

95.1
96.2
97.4

123.7
124.3
125.4

20.7
21.2
22.2

239.5
241.7
244.9

APR.
MAY
JUNE

8.9
8.9
10.0

1.6
1.6
1.7

4.2
4.0
3.8

5.2
3.3
4.6

8.9
14.1
9.7

15.0
31.0
21.6

29.0
48.5
35.8

1.4
1.4
1.4

99.9
101.8
102.8

127.3
128.6
130.0

23.1
23.6
23.8

250.3
254.0
256.5

JULY
AUG.
SEP.

10.0
8.9
9.4

1.7
1.6
1.7

3.7
3.7
3.7

3.4
3.2
5.5

6.4
5.4
7.8

19.6
12.7
19.4

29.4
21.2
32.6

1.4
1.3
1.3

104.1
105.3
106.0

131.2
131.4
132.2

24.7
24.8
26.4

260.0
261.5
264.6

OCT.
NOV.
DEC.

9.9
9.4
9.7

1.7
1.5
1.5

3.7
3.7
3.6

3.3
3.5
5.2

5.9
5.2
4.8

17.4
11.2
14.4

26.5
19.9
24.5

1.4
1.4
1.4

107.3
108.0
108.7

132.5
132.3
133.3

27.1
27.5
29.0

266.9
267.8
271.0

1990-JAN.
FEB.
MAR.

9.8
9.1
9.0

1.6
1.6
1.6

3.6
3.6
3.6

4.4
3.5
3.6

6.0
6.2
5.3

18.8
18.5
13.1

29.2
28.2
22.0

1.4
1.3
1.3

110.3
111.9
113.3

134.3 e
135.4 e
137.0 e

30.2 e
30.2 e
30.2 e

274.9 e
277.5 e
280.5 e

Meek ending
1990-FEB. 26

10.2

1.7

3.6

3.4

5.6

15.0

24.0

1.3

MAR.

5
12
19
26

8.7
8.6
8.9
9.3

1.5
1.4
1.7
1.7

3.6
3.6
3.6
3.7

4.1
3.0
4.9
3.1

6.4
5.1
4.9
5.3

9.7
11.0
13.8
17.0

20.1
19.2
23.6
25.4

1.3
1.3
1.3
1.3

APR.

2
9
16p
23p

9.4
9.7
8.7
9.4

1.5
1.6
1.4
1.6

3.7
3.6
3.6
3.6

3.1
4.0
6.5
5.3

5.0
4.5
4.9
4.5

12.9
3.4
3.4
21.2

21.1
11.9
14.8
31.0

1.3
1.3
1.3
1.3

e—indicates estimated data,
p—indicates preliminary data.