Full text of H.6 Money Stock Measures : May 30, 1991
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FEDERAL RESERVE statistical releas
H.6 ( 5 0 8 )
Table 1
MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES
MAY 30, 1991
Billions of dollars
Date
M1 J
M2*
M3 J
DEBT
Seasonally adjusted
1989-MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
776.8
774.3
779.3
779.9
781.8
787.9
788.9
793.6
3089..4
3105..0
3129..4
3147..3
3162.8
3183.0
3203.4
3223.1
3966.8
3982.8
4004.
4012.
4018.
4027.
4041.
4055.
4762.9
4783.4
4807.4
4826.1
4834..5
4851..7
4869..4
4889..9
9403.
9457,
9506,
9570,
9629.
9689,
9751,
9790.
1990-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
795.4
801.1
804.7
807.7
807.5
811.5
810.7
816.5
821.8
821.2
823.3
825.4
3233.6
3255.0
3269.6
3279.9
3282.8
3290.6
3295..4
3309..5
3321..5
3324..5
3324..6
3329.9
4061.4
4073.1
4077.2
4082.7
4082.7
4085.8
4089.2
4103..3
4109..0
4109..5
4109..9
4114..0
4895.3
4902.9
4914.6
4920.5
4903.2
4922.8
4926.8
4935.4
4957.5
4955.8
4957.9
4961.1
9833.5
9895.4
9965.8
10023.3
10066.6
10122.2
10182.7
10254.3
10312.8
10352.8
10405.9
10448.5
1991-JAN.
FEB.
MAR.
APR.
826.7
836.4
843.0
842.2
3332.5
3356.1
3376.6
3383.8
4126.2
4162.5
4171.2
4171.7
4978.7
5012.1
5016.0 p
10485.1
10537.0
10574.2 p
Not seasonally adjusted
1989-MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
767.2
773.9
781.9
777.8
778.9
784.5
791.4
811.9
3071.
3099.
3133.
3147.
3158.
3180.8
3206
3236.
3950.0
3978.4
4006.8
4016.6
4016.8
4025.2
4048.4
4067.0
4749.5
4777.1
4800.3
4823.7
4833.5
4848.8
4874.9
4907.4
9358.0
9414.0
9460.2
9516.6
9578.3
9648.5
9719.2
9775.9
1990-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.
802.4
788.3
796.2
818.0
797.3
810.8
812.9
814.5
818.9
817.6
826.1
844.3
3244.5
3245.6
3267.7
3292.8
3262.8
3284.1
3298.6
3310.2
3316.8
3321.8
3328.3
3343.9
4067.8
4061.5
4075.8
4090.8
4064.3
4080.8
4091.4
4108.3
4107.2
4106
4117
4126.1
4911.5
4893.9
4912.2
4930.3
4888.6
4914.1
4919.2
4933.5
4956.0
4951.6
4962.6
4979.5
9821.8
9862.6
9921.8
9977.5
10020.4
10078.3
10139.5
10205.2
10263.5
10313.4
10376.7
10435.9
1991-JAN.
FEB.
MAR.
APR.
833.2
823.4
835.0
852.9
3342.8
3346.8
3375.8
3397.4
4132.3
4150.6
4170.5
4180.8
4994.6
5002.7
5014.1 p
10474.8
10505.7
10530.8 p
Footnotes appear on the following
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
3 Months from JAN. 1991 TO APR. 1991
7.5
6.2
4.4
4.8
6 Months from OCT. 1990 TO APR. 1991
5.1
3.6
3.0
5.1
12 Months from APR. 1990 TO APR. 1991
4.3
3.2
2.2
6.1
Thirteen weeks ending MAY 20, 1991
from thirteen weeks ending:
FEB. 18, 1991 (13 weeks previous)
7.8
5.5
4.3
NOV. 19, 1990 (26 weeks previous)
5.5
3.6
3.0
MAY
21, 1990 (52 weeks previous)
4.7
3.2
2.2
1.
Growth rates for debt are based on periods beginning; and ending one month earlier than for the monetary aggregates, namely,
December 1990 to March 1991, September 1990 to March 1991, and March 1990 to March 1991, respectively.
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, money market deposit accounts (MMDAs), savings and
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. resident's at foreign branches of U.S. banks worldwide
and at all banking offices in the United Kingdom and Canada, and balances in both taxable and tax-exempt institution-only
money market mutual funds. Excludes amounts held by depository institutions, the U.S. government, money market funds,
and foreign banks and official institutions. Also subtracted is the estimated amount of. overnight RPs and Eurodollars
held by institution-only money market mutual funds. Seasonally adjusted M3 is obtained by 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
governments 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-average 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 quartet—end
basis and include discontinuities.
Footnotes to Table 1
2.
3.
4.
5.
H.6 ( 5 0 8 )
Table 3
MONEY STOCK MEASURES
B i l l i o n s of d o l l a r s
Sea;sonally adjusted
Ml
Period ending
13-week
average
1991-FEB. 25
4-week
average
M3
M2
week
average
13-week
average
4-week
average
week
average
13-week
average
4-week
average
week
average
828.7
836.1
836.0
3337.7
3354.2
3359.6
4131.3
4160.1
4166.5
MAR.
4
11
18
25
829.9
831.2
832.3
833.6
837.3
838.1
838.4
840.5
837.8
839.7
840.0
844.3
3340.8
3344.1
3347.7
3351.8
3359.2
3363.6
3368.4
3374.4
3365.4
3371.2
3377.3
3383.7
4135.9
4140.6
4145.1
4149.5
4166.0
4169.0
4171.5
4172.7
4169.0
4174.1
4176.3
4171.3
APR.
1
8
15
22
29
835.5
836.8
838.5
839.7
840.4
844.0
844.6
845.6
844.8
841.8
851.9
842.0
844.0
841.1
840.0
3355.5
3360.1
3365.0
3368.8
3371.6
3378.3
3382.1
3384.9
3385.1
3383.9
3380.8
3386.4
3388.8
3384.4
3375.9
4153.2
4157.6
4163.2
4166.8
4168.0
4171.1
4170.1
4172.2
4173.3
4172.4
4162.8
4169.8
4184.8
4175.7
4159.1
MAY
6
13p
20p
841.7
842.8
843.9
843.8
845.6
848.6
849.9
851.5
852.8
3375.1
3378.3
3381.4
3385.1
3386.7
3390.1
3391.2
3395.4
3397.7
4169.9
4170.9
4171.6
4172.7
4170.1
4170.0
4171.0
4174.6
4175.2
Not seasonally adjusted
Period ending
13-week
average
4-week
average
1991-FEB. 25
833.7
822.9
M3
M2
Ml
13-week
average
4-week
average
814.1
3343.2
3344.2
week
average
week
average
13-week
average
4-week
average
week
average
3342.5
4134.0
4147.6
4144.3
MAR.
4
11
18
25
834.4
834.2
833.5
832.0
824.7
827.0
829.2
832.0
831.8
838.0
832.7
825.3
3346.2
3348.6
3351.1
3353.6
3350.9
3357.9
3365.6
3372.4
3365.2
3376.8
3377.8
3369.8
4138.4
4141.9
4145.6
4148.8
4155.0
4159.9
4165.8
4170.0
4166.0
4176.6
4176.2
4161.0
APR.
1
8
15
22
29
831.1
831.0
832.8
834.9
836.6
834.9
840.8
849.0
856.4
853.1
843.4
861.8
865.5
854.7
830.5
3356.1
3360.1
3365.1
3369.3
3372.5
3376.7
3387.4
3397.6
3403.9
3398.4
3382.3
3419.5
3418.9
3394.9
3360.1
4151.7
4156.5
4161.7
4164.9
4166.5
4170.1
4176.3
4184.6
4188.5
4182.0
4166.5
4201.3
4209.4
4176.9
4140.4
MAY
6
13p
20p
838.4
839.6
841.0
849.8
844.6
841.6
848.4
844.8
842.6
3375.5
3377.7
3380.0
3388.0
3377.6
3373.1
3378.0
3377.3
3377.1
4168.1
4168.3
4168.5
4171.1
4158.4
4153.2
4157.5
4158.7
4156.1
Note: S p e c i a l caution should be taken in i n t e r p r e t i n g week-to-week changes i n 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
Nontransactions
components
Other checkable deposits
Currency*
Travelers
checks2
Demand
deposits3
At
commercial
nerc
banks*
1989-DEC.
222.2
7.4
278.7
197.6
1990-JAN.
FEB.
MAR.
224.5
226.6
228.4
7.5
7.6
7.6
277.6
279.4
278.9
APR.
MAY
JUNE
230.3
231.9
233.7
7.7
7.«8
7.8
JULY
AUG.
SEP.
Total
In M 2
6
In M3
only7
General purpose
and broker/dealer
money market funds
87.6
285.2
2429.5
832.1
313.6
198.3
199.6
201.3
87.
87.
88.
285.8
287.5
289.8
2438.2
2453.9
2465.0
827.8
818.2
807.6
318.
324.
325,
278.1
275.8
276.3
202,
203.
205.
88.
88,
88.
291.7
292.0
293.7
2472.
2475.
2479.
802.8
799.9
795.2
327.
325.
327.
235.7
238.4
241.5
275.
278.
279.
203.
204.
205.
87.
87.
87.
291.7
292.1
293.0
2484.
2493.
2499.
793.8
793.9
787.5
329.2
335.8
339.3
OCT.
NOV.
DEC.
243.9
245.0
246.4
277.
277.
276,
205.9
207.1
208.8
85.8
85.7
85.0
291.8
292.8
293.8
2503.
2501.
2504.
785.0
785.3
784.1
341.8
343.0
347.7
1991-JAN.
FEB.
MAR.
251.6
255.1
256.7
8.4
8.2
8.1
272.9
276.2
277.1
209.2
211.4
214.4
84.7
85.5
86.6
293.9
296.9
301.0
2505.8
2519.6
2533.6
793.7
806.5
794.6
356.3
360.5
365.9
APR.
256.6
7.9
275.8
215.2
86.8
302.0
2541.7
787.9
366.8
256.9
8.1
Date
At
thrift
institutions5
Meek ending*
1991-MAR. 25
277.2
214.8
87.4
302.2
2539.4
787.6
367.1
APR.
1
8
15
22
29
257.9
255.9
256.2
256.6
257.5
283.1
277.3
277.8
274.2
272.7
215.6
214.7
215.7
214.8
215.3
87.
86.
86.
87.
86.8
302.8
300.8
302.1
302.5
302.1
2528.9
2544.3
2544.8
2543.3
2535.9
781.
783.
796.
791.
783.
366.5
367.4
366.9
366.7
366.2
MAY
6
13p
20p
256.5
256.3
256.8
279.8
280.1
279.4
218.
219.
220.
87.
87.
88.
305.
307.
308.
2541.3
2543.8
2544.9
779.8
779.2
777.5
366.
368.
368.
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 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 NOH 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), 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 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.
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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
Institutiononly money
market funds
Date
Savings
bonds
Short-term
Treasury
securities1
Bankers
acceptances2
Commercial
paper 3
Federal
debt
Non-Federal
debt
1989-DEC.
101.9
117.5
327.4
40,7
349.2
2268.1
7522.3
1990-JAN.
FEB.
MAR.
102.5
103.4
105.2
117.9
118.4
119.2
330.7
327.3
336.9
40.3
38.5
37.2
345.0
345.6
344.1
2275.8
2291.6
2316.1
7557.6
7603.8
7649.7
APR.
MAY
JUNE
106.9
107.6
108.1
119,
120.
121.
329.9
315.4
331.7
36,
35,
34,
351.
349.
349.
2330.
2345.
2374.
7692,
7721.
7748.
JULY
AUG.
SEP.
109.8
114.0
116.2
122,
123.
123.8
334.3
329.8
333.8
33.
32.
31.8
348.
347.
359.
2401,
2439,
2461,
7781.1
7814.8
7850.9
OCT.
NOV.
DEC.
119.6
120.5
125.7
124
125
126
330.4
329.8
327.1
32.
34.
34.
358.8
359.0
359.4
2473,
2505.
2532.8
7879.
7900.
7915.
1991-JAN.
FEB.
MAR.
130.1
139.3
142.0
126.7
127.8
128.9
326.4
330.5
331.0 p
36.0
35.2
32.5 p
363.4
356.1
352.4 p
2555.9
2586.6
2598.6 p
7929.2
7950.4
7975.7 p
APR.
145.6
Heek ending
1991-MAR. 25
142.4
APR.
1
8
15
22
29
141.2
140.7
148.6
146.6
146.9
MAY
6
13p
20p
145.5
148.5
146.1
1.
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
Other checkable deposits
Travelers
Demand
checks 2 deposits3
At
commercial
banks*
At
thrift
institutions5
Nontransactions
components
Overnight
RPs 8
Overnight
Eurodollars9
General purpose
and broker/dealer
money market funds
Total
In M2 6
In M3
only7
88.0
288.2
2424.7
830.4
63.1
14.3
313.5
202.6
199.7
202.4
87.0
85.8
87.8
289.6
285.5
290.1
2442.1
2457.2
2471.5
823.3
816.0
808.1
64.6
67.5
67.0
16.9
14.9
14.9
318.5
327.8
331.6
280.0
268.9
275.2
209.6
200.9
204.0
91.5
88.2
88.7
301.1
289.1
292.7
2474.8
2465.5
2473.3
798.0
801.5
796.7
64.3
66.7
66.9
15.1
16.5
15.5
330.
321,
322.
8.6
8.9
8.8
277.3
276.8
278.2
201.4
201.8
203.9
88.2
87.6
87.1
289.7
289.4
291.1
2485.7
2495.7
2497.8
792.9
798.1
790.4
68.2
67.5
65.0
15.8
15.2
16.4
325.
334.
339.
242.8
245.7
249.6
8.4
8.0
7.8
278.0
280.5
289.9
203.0
206.0
211.5
85.4
85.9
85.5
288.4
291.9
297.0
2504.2
2502.2
2499.6
784.8
788.8
782.2
66.0
60.3
54.6
17.5
17.3
19.4
341.
344,
347.8
1991-JAN.
FEB.
MAR.
249.8
252.7
255.6
7.8
7.8
7.8
277.7
268.1
270.1
213.7
211.4
215.7
84.2
83.5
85.9
297.9
294.9
301.6
2509.5
2523.4
2540.8
789.5
803.8
794.7
51.5
51.0
48.6
19.7
19.1
20.5
356.6
364.7
372.5
APR.
256.0
7.5
277.6
222.4
89.4
311.8
2544.5
783.4
49.0
19.9
371.2
Date
Currency 1
1989-DEC.
225.3
6.9
291.5
200.2
1990-JAN.
FEB.
MAR.
223.0
224.4
227.1
7.0
7.2
7.3
282.8
271.3
271.6
APR.
MAY
JUNE
229.6
231.8
234.9
7.3
7.5
8.1
JULY
AUG.
SEP.
237.3
239.4
241.0
OCT.
NOV.
DEC.
Week
ending
1991-MAR.
25
254.8
7.8
264.8
213.4
84.5
297.9
2544.5
791.3
49.7
21.4
374.5
APR.
1
8
15
22
29
255.3
257.7
256.6
255.6
254.4
7.8
7.6
7.5
7.4
7.3
277.8
281.1
284.1
276.6
267.9
215.8
224.1
226.4
225.4
215.0
86.8
91.3
90.7
89.6
85.9
302.5
315.3
317.2
315.0
300.9
2539.0
2557.8
2553.4
2540.2
2529.5
784.1
781.8
790.5
782.0
780.4
44.9
52.3
48.6
48.2
47.5
18.9
20.0
19.7
20.2
20.1
372,
373,
373,
371,
366,
MAY
6
13p
20p
257.3
257.7
257.1
7.6
7.7
7.7
274.2
273.5
273.6
218.9
217.8
216.7
90.3
88.2
87.4
309.2
306.0
304.2
2529.7
2532.5
2534.6
779.5
781.4
779.0
48.8
47.4
51.2
17.3
16.7
16.4
363.1
363.8
362.6
1.
2.
e
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 NOH 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.
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
At
At
thrift
commercial
institutions
banks
Date
Total
Small-denomination time deposits 2
Savings deposits 1
Money market deposit accounts
At
At
thrift
commerciail
institutions
banks
Total
At
At
commercial
thrift
banks
institutions
Total
Large-denomination time deposits 3
At
At
commercial
thrift
4
banks
institutions
Total
1989-DEC.
356.5
133.7
490.2
186.4
214.2
400.6
529.2
613.8
1143.0
400.4
162.6
562.9
1990-JAN.
FEB.
MAR.
357.8
359.2
362.8
133.8
134.2
135.5
491.5
493.4
498.3
188.1
189.7
191.9
214.7
215.4
218.0
402.9
405.1
410.0
533.4
537.8
540.6
614.4
610.8
609.2
1147.8
1148.6
1149.7
399.5
399.2
399.1
158.3
154.1
150.0
557.8
553.3
549.1
APR.
MAY
JUNE
364.6
362.7
367.4
135.0
133.0
131.9
499.6
495.7
499.3
192.9
193.3
195.3
219.8
219.2
219.3
412.7
412.5
414.6
544.4
552.9
563.9
607.8
599.6
590.9
1152.2
1152.4
1154.8
394.6
397.1
397.2
146.0
142.8
140.1
540.6
539.9
537.2
JULY
AUG.
SEP.
369.1
373.5
375.0
130.6
130.8
130.9
499.8
504.3
505.9
197.2
196.5
196.2
219.7
217.5
215.4
416.9
414.0
411.7
573.2
575.8
579.1
586.8
584.3
580.4
1160.1
1160.2
1159.5
397.3
396.7
392.7
135.9
133.7
131.6
533.2
530.4
524.3
OCT.
NOV.
DEC.
375.8
379.7
381.6
129.7
130.1
128.7
505.6
509.8
510.3
198.2
197.9
197.7
214.4
212.6
209.6
412.6
410.4
407.3
588.0
588.5
596.1
573.2
571.3
564.1
1161.2
1159.8
1160.2
389.3
389.9
386.1
129.1
125.9
121.1
518.3
515.9
507.1
1991-JAN.
FEB.
WAR.
380.6
384.7
391.1
128.4
128.8
131.0
509.0
513.5
522.1
199.9
201.5
205.8
209.0
210.4
214.7
408.9
411.9
420.5
602.1
606.1
607.4
561.8
557.1
549.4
1163.9
1163.2
1156.8
392.3
399.6
399.4
117.5
114.5
111.5
509.8
514.2
510.9
APR.
394.0
133.0
526.9
209.5
219.0
428.5
604.4
544.6
1149.0
395.3
108.1
503.4
Week ending
391.6
131.2
522.8
206.4
215.2
421.6
607.0
547.5
1154.5
398.8
110.7
509.6
APR.
1
8
15
22
29
392.4
395.9
397.8
392.5
389.9
131.
133.
133.
132.
132,
524,
529,
531,
525,
522,
208.0
210.2
209.8
208.8
209.0
216.8
219.8
219.6
218.5
218.4
424.8
430.0
429.4
427.3
427.4
606.
605,
604,
604.
603.
547.2
547.1
545.6
543.9
542.2
1153.5
1152.8
1150.3
1148.0
1145.4
395.
396.
395.
395.
394.
111.
110.
109,
107.
106.
506.
506.
504.
502.
500.
MAY
6
13p
20p
392.1
395.8
396.7
133.
134.
135.
525
530,
531,
210,
211.
212.
220.8
222.0
222.7
431,
433.
434.
602,
601,
600,
540,
539,
537,
1143.
1140.
1137.
395.
396.
397.
105.
104,
104.
500.6
501.3
501.6
1991-MAR. 25
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 (508)
Table 5^continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Term RPs 1
At
InstitutionAt
only money commercial
thrift
banks
institutions
market funds
Date
Debt components6
Non-M3 Components of L
Total
Term
Eurodollars2
Savings
bonds
Short-term
Treasury ^
securities"'
Bankers
acceptances
Commercial
paper5
Federal
debt
Non-Federal
debt
1989-DEC.
102.8
47.0
51.8
98.8
81.0
117.3
336.7
41.7
344.7
2265.9
7509.9
1990-JAN.
FEB.
MAR.
105.9
107.1
106.8
47.9
51.6
50.1
49.6
48.9
48.3
97.5
100.5
98.4
74.2
68.4
66.7
118.0
118.5
119.4
338.0
328.8
337.2
40.4
37.5
36.1
347.3
347.6
343.8
2277.5
2295.0
2319.2
7544.4
7567.6
7602.7
APR.
MAY
JUNE
105.9
106.8
106.2
49.5
50.1
53.4
48.7
49.2
48.9
98.2
99.3
102.2
65.3
67.1
64.4
120.2
120.9
121.6
328.6
310.6
321.4
35.3
35.2
34.9
355.4
357.6
355.4
2331.0
2339.7
2363.0
7646.6
7680.7
7715.3
JULY
AUG.
SEP.
108.3
113.1
113.4
53.5
55.5
51.7
47.0
46.5
46.6
100.5
102.0
98.3
65.1
68.3
70.0
122.2
122.8
123.5
324.2
325.1
336.2
33.1
32.4
32.3
348.2
344.9
356.8
2386.8
2422.3
2444.5
7752.7
7782.9
7819.0
OCT.
NOV.
DEC.
117.1
121.2
127.0
50.7
52.3
47.6
44.9
43.4
42.5
95.6
95.7
90.2
70.2
70.0
71.4
124.2
125.0
125.8
335.0
335.8
336.9
32.8
34.6
35.7
353.0
350.3
355.1
2459.3
2498.8
2532.1
7854.1
7877.9
7903.8
1991-JAN.
FEB.
MAR.
134.8
144.0
143.9
46.6
47.1
46.1
41.6
39.7
37.1
88.2
86.8
83.2
72.1
73.1
71.7
126.8
127.9
129.1 p
333.8
331.7
331.0 p
36.1
34.3
31.5 p
365.7
358.2
352.0 p
2557.8
2591.0
2603.3 p
7917.1
7914.7
7927.5 p
APR.
144.1
46.6
35.4
81.9
68.8
Neek ending
1991-MAR. 25
143.9
45.7
37.1
82.8
70.1
APR.
1
8
15
22
29
142.8
140.6
147.7
143.6
145.0
46.6
45.8
47.1
46.3
47.0
34.2
35.9
35.7
35.0
34.9
80.9
81.7
82.8
81.3
82.0
69.6
67.7
70.4
69.5
67.7
MAY
6
13p
20p
142.8
146.7
144.6
47.0
46.7
45.4
35.5
36.0
35.6
82.5
82.6
81.0
66.8
65.4
66.7
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 ( 5 0 8 )
Table 6
MEMORANDUM ITEMS
10
Billions of dollars> not seasonally adjusted
Demand deposits
at banks due to
U.S. government deposits
Time and savinqs
deposits due to
foreign banks
Foreign
Foreign
commercial
and official
official
institutions
banks
institutions
Date
Demand
deposits at
commercial
banks
Balance
at
Federal
Reserve
Note balances
at depository
institutions
Total
cash
balance
IRA and Keogh Accounts
Time and
savinqs
At
deposits
At
thrift
at commercial commercia 1
institutions
banks
banks
At
money
market
funds
Total
1989-DEC.
9.5
1.6
3.3
5.2
4.8
14.4
24.5
1.3
108.7
133.3
29.9
271.8
1990-JAN.
FEB.
MAR.
9.7
9.0
9.0
1.6
1.6
1.6
3.4
3.4
3.4
4.4
3.5
3.6
6.0
6.2
5.3
18.8
18.5
13.1
29.1
28.2
22.0
1.3
1.3
1.3
110.3
111.9
113.3
133.9
133.9
133.9
31.4
33.0
33.6
275.7
278.9
280.8
APR.
MAY
JUNE
9.2
9.4
9.1
1.5
1.7
1.5
3.4
3.4
3.3
5.1
3.4
5.5
4.4
5.1
5.0
14.9
21.8
15.4
24.4
30.3
25.9
1.3
1.3
1.2
115.6
117.7
119.5
134.0
133.8
133.6
34.0
34.2
34.3
283.6
285.8
287.4
JULY
AUG.
SEP.
9.0
9.2
9.4
1.5
1.8
1.9
3.3
3.2
3.2
3.4
3.8
5.1
5.4
5.4
6.4
11.9
19.7
25.9
20.6
28.9
37.5
1.3
1.4
1.2
121.1
122.6
124.4
133.5
133.1
132.5
34.4
35.2
36.9
289.0
291.0
293.8
OCT.
NOV.
DEC.
9.0
8.9
8.8
1.5
1.4
1.4
3.6
3.3
3.2
3.5
3.7
5.0
5.5
5.6
5.2
17.5
15.4
18.1
26.4
24.8
28.2
1.4
1.4
1.4
126.8
128.6
130.3
132.0
131.5
130.7
37.7
38.1 e
38.4 e
296.5
298.1 e
299.4 e
1991-JAN.
FEB.
MAR.
9.2
8.2
8.1
1.5
1.5
1.4
3.2
3.2
3.2
4.9
4.2
5.1
7.8
11.5
6.8
24.5
35.1
23.3
37.2
50.8
35.1
1.4
1.3
1.3
132.1
133.6
135.3
131.2
131.0
131.1 e
39.1 e
39.7 e
40.4 e
302.4 e
304.3 e
306.7 e
APR.
8.6
1.4
3.3
5.3
4.7
15.0
25.1
1.3
137.0
131.6 e
40.9 e
309.5 e
7.7
1.6
3.3
3.1
6.2
24.2
33.6
1.3
21.8
10.7
2.5
17.5
26.2
34.9
19.0
13.0
29.1
35.1
1.3
1.3
1.3
1.3
1.3
30.9
17.5
6.7
42.5
25.7
16.0
1.5
1.5
1.5
Week ending
1991-MAR. 25
APR.
1
8
15
22
29
8.5
9.5
8.0
8.6
8.2
1.3
1.3
1.4
1.4
1.5
3.3
3.3
3.2
3.2
3.3
4.4
3.4
6.5
6.3
5.0
8.7
4.9
4.0
5.2
3.9
MAY
6
13p
20p
8.8
8.1
8.2
1.5
1.4
1.4
3.3
3.3
3.3
4.6
3.1
3.9
7.0
5.1
5.4
-indicates estimated data,
-indicates preliminary data.
@FedFRASER