Full text of H.6 Money Stock Measures : November 15, 1990
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FEDERAL RESERVE statistical release
AL
H.6 ( 5 0 8 )
Table 1
MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES
NOVEMBER 15, 1990
Billions of dollars
Date
Ml 3
M2 Z
Rt>
M3 3
DEBT
Seasonally adjusted
1988-NOV.
DEC.
786.0
787.5
3064.1
3072.4
3903.5
3918.3
4644.2
4676.1
9048.6
9107.6
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.
3201.
3221.
3925.9
3936.7
3956.
3965.
3965.
3984.
4007.
4013.
4013.
4018.
4031.
4044.
4683.3
4702.0
4735.9
4762.0
4761.9
4784.4
4810.5
4825.2
4831.8
4841.7
4858.1
4881.2
9150.3
9209.8
9279.9
9342.8
9403.6
9457.8
9506.6
9569.9
9627.8
9687.4
9750.2
9788.9
1990-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT. p
794.8
801.4
804.8
807.3
805.4
809.4
809.0
815.8
822.1
820.1
3231
3255
3271
3279
3274
3282
3287.8
3305.3
3319.3
3320.3
4048.5
4064.3
4069.0
4074.7
4068.4
4073.0
4076.6
4091.0
4092.0
4087.9
4882.5
4890.4
4906.6
4918.1
4890.5
4910.2
4919.7
4930.7
4953.3 p
9829.3
9887.1
9955.1
10010.6
10053.6
10108.7
10166.5
10230.1
10291.2
Not seasonally adjusted
1988-NOV.
DEC.
788.3
804.5
3067.2
3085.2
3912.4
3932.5
4652.3
4692.9
9015.3
9093.2
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..4
3065..7
3080..7
3100..2
3071..2
3099..1
3132.8
3146.5
3156.6
3179.3
3204.8
3234.5
3935.3
3925.6
3954.3
3971.0
3950.6
3978.5
4005.8
4012.7
4010.6
4018.2
4040.7
4058.3
4701.
4696.
4733.
4764.
4750.
4777.
4799.
4819.8
4827.3
4841.8
4867.2
4898.9
9139.
9179.
9237.
9297.
9358.
9413.
9459.8
9515.7
9576.
9646.
9717.
9774.
1990-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT. p
802.3
788.0
795.7
817.3
796.4
810.0
812.0
813.7
818.1
816.8
3242.8
3243.6
3265.8
3290.3
3259.4
3279.8
3293.4
3305.4
3311.8
3316.9
4057
4052
4067
4081
4052
4066
4075
4091
4088
4087
4901.
4885.
4904,
4921,
4878.
4901.
4907.
4925,
4947.9 p
Footnotes appear on the following page,
p—indicates preliminary data.
9819.1
9856.8
9912.3
9965 3
10007 7
10065 0
10121 2
10177 5
10241 5 p
H.6 ( 5 0 8 )
Table 2
MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates
Ml
M2
M3
Debt 3
7.2
3 Months from JULY 1990 to OCT. 1990
5.5
4.0
1.1
6 Months from APR. 1990 TO OCT. 1990
3.2
2.5
0.6
6.8
12 Months from OCT. 1989 TO OCT. 1990
4.1
4.3
1.7
6.9
Thirteen weeks ending NOVEMBER 5, 1990
from thirteen weeks ending:
AUG.
6, 1990 (13 weeks previous)
5.7
4.1
1.6
MAY
7> 1990 (26 weeks previous)
3.7
2.8
1.0
NOV.
6> 1989 (52 weeks previous)
4.5
4.7
1.9
Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely>
June 1990 to September 1990, March 1990 to September 1990, and September 1989 to September 1990, respectively.
Footnotes to Table 1
Consists of (1) currency outsidethe 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 (NOH) 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 foreion 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 Kinadom 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
pvernments 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 quarter-end
basis and include discontinuities.
f
H.6 ( 5 0 8 )
T ab le 3
MONEY STOCK MEASURES
Billions of dollars
Seasonally adjus;ted
Period ending
13-week
average
4-week
average
1990-AUG. 13
20
27
809.3
810.2
811.0
810.9
813.5
815.1
M3
M2
Ml
13-week
average
4-week
average
814.7
817.9
815.2
3284.7
3287.3
3290.2
3291.1
3297.2
3303.0
week
average
13-week
average
4-week
average
3301.9
3308.7
3306.9
4074.9
4076.5
4078.9
4081.0
4084.6
4089.0
4087.6
4090.3
4092.7
week
average
week
average
SEP.
3
10
17
24
811.9
812.9
813.9
814.8
816.8
818.2
818.7
820.2
819.5
820.2
820.0
821.1
3293.8
3296.9
3299.5
3302.0
3309.3
3313.9
3315.9
3318.4
3319.8
3320.0
3317.0
3316.9
4081.6
4083.5
4085.0
4086.0
4093.5
4096.3
4097.1
4095.0
4103.4
4098.8
4093.3
4084.6
OCT.
1
8
15
22
29p
815.6
816.5
817.4
818.2
819.1
822.4
822.8
822.5
821.8
819.8
828.2
821.8
818.7
818.3
820.2
3304.3
3307.1
3309.6
3312.2
3314.7
3319.1
3320.6
3322.1
3322.3
3320.7
3322.3
3326.1
3322.9
3318.0
3315.8
4086.6
4087.5
4088.5
4089.5
4090.3
4090.2
4088.4
4087.0
4088.2
4088.4
4084.1
4091.5
4087.8
4089.2
4085.1
NOV.
5p
819.9
820.0
822.6
3316.3
3318.1
3315.7
4090.2
4086.6
4084.2
Not seasonally adjusted
Period ending
13-week
average
4-week
average
1990-AUG. 13
20
27
808.9
810.5
811.7
809.8
813.5
814.3
M3
M2
Ml
13-week
average
4-week
average
820.1
816.5
800.3
3283.9
3287.9
3291.5
3293.4
3300.5
3304.9
week
average
13-week
average
4-week
average
3311.4
3310.6
3293.1
4070.6
4073.6
4076.6
4080.0
4085.8
4090.6
4097.2
4091.5
4081.6
week
average
week
average
SEP.
3
10
17
24
811.9
813.1
814.0
814.5
813.2
816.1
817.6
818.4
815.7
831.7
822.8
803.2
3294.2
3297.6
3300.3
3302.5
3307.4
3312.2
3313,8
3313.7
3314.3
3330.7
3317.2
3292.6
4078.8
4081.4
4083.5
4084.8
4092.6
4096.1
4097.4
4093.2
4100.0
4111.3
4096.7
4064.8
OCT.
1
8
15
22
29p
814.4
814.4
815.0
815.7
816.2
817.6
816.7
817.2
819.1
816.7
812.6
828.1
824.9
810.6
803.2
3303.6
3305.3
3307.3
3309.4
3311.3
3310.7
3311.0
3313.9
3318.2
3317.5
3302.1
3331.9
3329.1
3309.8
3299.0
4084.9
4085.7
4087.1
4088.2
4088.9
4085.6
4082.6
4082.8
4087.3
4087.7
4069.4
4099.6
4097.3
4082.9
4071.0
NOV.
5p
816.7
816.6
827.5
3312.8
3315.7
3324.7
4089.2
4086.9
4096.3
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 6 )
Table 4
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Nontransact ions
component s
Other checkable deposits
l
Travelers
checks 2
Demand
deposits3
At
commercial
banks*
At
thrift
institutions5
Total
In M 2
6
In M3
only7
Gen<sral purpose
and t>roker/dealer
money market funds
Date
Currency
1989-JUNE
217.2
7.2
276.3
188.7
84.3
273.0
2327.9
883.3
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
274.5
276.0
278.4
2348.0
2366.5
2380.6
880.6
866.1
849.9
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
2393.8
2411.8
2426.8
836.2
829.8
822.6
302.7
309.0
312.4
1990-JAN.
FEB.
MAR.
224.6
226.6
228.4
7.5
7.6
7.6
277.3
280.2
279.3
198.0
199.3
201.0
87.4
87.7
88.5
285.4
287.0
289.5
2436.3
2454.3
2466.2.
817.4
808.6
797.9
318.6
325.3
325.9
APR.
MAY
JUNE
230.1
231.6
233.4
7.6
7.7
7.7
277.8
274.5
274.5
202.8
203.2
205.7
89.0
88.3
88.1
291.8
291.5
293.8
2471.8
2469.1
2473.2
795.5
794.0
790.4
326.8
322.3
323.9
JULY
AUG.
SEP.
235.4
238.4
241.5
7.7
8.0
8.3
274.7
277.9
279.7
203.9
204.2
205.6
87.3
87.4
87.0
291.2
291.6
292.6
2478.8
2489.5
2497.2
788.8
785.6
772.7
327.1
335.9
341.9
OCT. p
244.0
8.4
276 38
205.6
85.3
291.0
2500.2
767.6
344.7
240.4
241.3
242.5
8.2
8.2
8.3
278.3
278.9
279.1
205.9
204.7
204.6
87.4
86.9
86.6
293.3
291.6
291.2
2499.8
2497.0
2495.8
778.7
776.3
767.6
341.
341.
342.
Neek ending
1990-SEP. 10
17
24
OCT.
1
8
15
22
29p
243.1
242.6
243.0
244.3
245.5
8.3
8.3
8.4
8.4
8.4
282.5
278.9
276.7
275.9
275.9
207.6
206.3
205.8
204.7
205.3
86.8
85.7
85.0
85.0
85.1
294.3
292.0
290.7
289.7
290.4
2494.1
2504.3
2504.1
2499.7
2495.5
761.8
765.4
764.9
771.2
769.3
342.
345.
345.
345.
344.
NOV.
5p
244.7
8.5
277.0
206.8
85.6
292.4
2493.1
768.5
343.1
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 foreion-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 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. 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
Non-M3 Components of L
Institutiononly money
market funds
Date
Savings
bonds
Short-term
Treasury
securities1
Bankers
acceptances2
Debt components*
Commercial
paper 3
Federal
debt
Non-Federal
debt
1989-JUNE
96.3
113.6
295.2
41.2
349.4
2176.9
7280.9
JULY
AUG.
SEP.
99.0
101.4
101.6
114.3
115.0
115.7
297.2
300.2
311.3
41.9
42.6
41.0
349.5
354.3
350.3
2179.3
2197.7
2219.1
7327.3
7372.2
7408.7
OCT.
NOV.
DEC.
101.1
101.1
102.3
116.2
116.8
117.5
317.4
318.6
330.3
40.0
40.5
41.2
350.0
351.3
347.9
2238.0
2259.9
2266.7
7449.4
7490.4
7522.2
1990-JAN.
FEB.
MAR.
103.2
103.7
105.4
117.7
118.2
119.1
332.3
324.9
338.9
40.7
38.3
37.0
343.3
344.7
342.7
2274.5
2290.5
2314.9
7554.8
7596.7
7640.2
APR.
MAY
JUNE
106.8
107.3
107.3
119.9
120.7
121.5
330.3
316.5
331.7
35.8
35.3
34.6
357.5
349.6
349.4
2329.1
2343.0
2370.9
7681.5
7710.5
7737.8
JULY
AUG.
SEP.
108.9
114.0
116.1
122.4
123.2
123.8 p
339.2
339.2
350.2 p
32.8
32.2
32.1 p
348.7
345.1
355.3 p
2397.8
2436.0
2458.4 p
7768.6
7794.1
7832.8 p
OCT. p
119.8
Neek ending
1990-SEP. 10
17
24
115.5
116.1
117.4
OCT.
1
8
15
22
29p
115.5
118.3
118.5
121.6
121.5
NOV.
5p
120.2
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.
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
1
Travelers
Demand
checks 2 deposits 3
A*
commercial
banks*
At
thrift
institutions5
Nontransactions
components
Total
In M2
6
In M3
only7
Overnight
RPs*
Overnight
Eurodollars9
General purpose
and broker/dealer
money market funds
Date
Currency
1989-JUNE
218.4
7.5
276.7
187.0
84.8
271.8
2324.7
879.4
65.0
14.6
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
2368.5
2377.5
873.0
866.2
854.0
64.2
63.2
59.6
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
2394.3
2413.1
2422.4
838.9
835.9
823.8
61.6
62.2
63.1
14.1
13.2
14.3
301
309
312
1990-JAN.
FEB.
MAR.
222.9
224.2
227.0
7.0
7.2
7.3
283.0
271.4
271.6
202.5
199.5
202.2
87.0
85.7
87.6
289.4
285.2
289.7
2440.5
2455.6
2470.1
814.8
809.3
801.8
64.6
67.5
67.0
17.0
14.9
14.9
317, 4
326, 9
330, 4
APR.
MAY
JUNE
229.5
231.7
234.8
7.3
7.5
8.1
279.8
268.5
274.8
209.4
200.7
203.8
91.3
88.0
88.5
300.7
288.7
292.3
2473.1
2463.0
2469.8
791.0
793.3
786.9
64.3
66.7
66.9
15.0
16.5
15.4
330.
321,
4
6
321.8
JULY
AUG.
SEP.
237.1
239.2
240.8
8.6
8.9
8.8
277.0
276.5
277.9
201.3
201.7
203.8
88.0
87.3
86.9
289.3
289.0
290.6
2481.4
2491.7
2493.8
782.3
785.7
776.3
68.2
67.6
65.2
15.9
15.1
16.4
324.3
334.9
340.9
242.6
8.4
277.6
202.9
85.2
288.1
2500.2
770.2
66.5
17.9
342.9
241.8
240.6
239.9
8.9
8.8
8.7
282.2
280.3
270.9
208.7
205.5
199.4
90.0
87.6
84.3
298.7
293.1
283.8
2499.0
2494.4
2489.4
780.6
779.5
772.3
67.0
64.3
65.3
15.4
16.2
16.5
340.1
341.0
341.8
1
8
15
22
29p
239.8
243.8
242.8
242.7
242.0
8.6
8.5
8.5
8.4
8.3
279.3
281.7
282.9
274.0
271.1
200.3
206.4
204.6
201.3
199.3
84.6
87.7
86.0
84.2
82.5
284.9
294.1
290.7
285.5
281.8
2489.4
2503.8
2504.2
2499.3
2495.8
767.3
767.6
768.2
773.1
772.0
62.1
68.6
68.8
65.5
64.5
18.2
17.1
16.3
18.2
19.7
341,
342.
343,
343.
5p
244.4
8.2
280.9
206.5
87.4
293.9
2497.2
771.6
64.0
18.6
342.6
OCT.
p
Neek ending
1990-SEP. 10
17
24
OCT.
NOV.
1.
2.
342.8
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,
p—indicates preliminary data.
H.6 (508)
Table 5-continued
COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Savings deposits 1
Money msirket deposit accounts
At
At
thrift
commercial
institutions
banks
Date
Total
At
At
commerciail
thrift
banks
institutions
Small-denomination time deposits2
Total
At _
At
commercial
thrift
banks
institutions
Total
Large-denomination time deposits 3
At
At
commercial
thrift
banks 4
institutions
Total
1989-JUNE
329.0
129.6
458.6
183.5
222.7
406.2
502.5
611.0
1113.5
396.4
176.1
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
1138.8
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
360.8
132.9
133.3
136.1
489.3
491.1
496.9
189.0
190.5
193.2
218.8
219.5
220.9
407.7
410.0
414.1
530.8
535.2
538.3
613.7
610.1
608.5
1144.5
1145.3
1146.8
399.3
399.7
399.7
154.1
150.6
146.4
553.4
550.2
546.1
APR.
MAY
JUNE
362.4
361.0
365.8
135.9
133.8
132.5
498.3
494.8
498.2
194.2
194.1
196.1
222.4
221.8
222.3
416.6
415.9
418.4
541.7
549.7
560.4
606.7
597.9
588.7
1148.4
1147.6
1149.1
395.2
397.6
397.4
141.7
137.6
133.6
536.9
535.1
531.0
JULY
AUG.
SEP.
368.1
372.9
374.5
131.2
131.2
131.2
499.4
504.1
505.7
197.3
196.3
196.0
223.1
221.0
219.0
420.4
417.3
415.0
569.6
572.2
575.5
583.7
580.6
575.0
1153.2
1152.7
1150.5
397.4
396.9
393.2
129.5
127.1
125.1
526.9
524.0
518.3
OCT. p
375.2
130.4
505.6
197.8
217.7
415.6
584.9
566.9
1151.7
390.6
122.2
512.8
377.2
375.5
372.3
132.1
131.7
130.6
509.
507.
502.
196.2
195.9
195.6
219.8
219.5
218.2
416,
415,
413.
573.
575.
575.
577,
575,
573.
1151.
1150.
1149.
394.6
394.8
392.6
126.
125.
124.
520.7
520.1
516.8
Neek ending
1990-SEP. 10
17
24
OCT.
1
8
15
22
29p
372.5
375.0
376.3
374.6
374.8
129.8
130.4
130.7
130.4
130.0
502.
505.
507.
505.
504.8
196.5
198.5
198.2
197.8
197.2
218.1
218.9
218.5
217.6
216.1
414,
417.
416.
415.
413.
579.
585.
585.
585.
584.
571.
568.
566.
566.
566.
1151.
1153.
1152.
1151.
1150.
389.
390,
391.
391.
390.
124.
123.
122.
122.
121.
513,
513,
513,
513,
511.
NOV.
5p
376.6
130.6
507.2
197.5
216.8
414.3
584.7
565.8
1150.5
389.7
120.5
510.2
1.
2.
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.
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 ( 5 0 8 )
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
market funds
institutions
Date
Debt components 6
Non-M3 Components of L
Total
Term
Eurodollars2
Savings
bonds
Short-term
Treasury
securities3;
Bankers
acceptances4
Commercial
paper5
Federal
debt
Non-Federal
debt
1989-JUNE
95.1
43.7
84.7
128.4
93.4
113.7
288.1
41.5
355.4
2165.1
7248.8
JULY
AUG.
SEP.
98.2
100.6
99.2
45.1
45.4
47.9
79.0
72.2
66.0
124.1
117.6
113.9
91.8
89.8
85.5
114.2
114.7
115.4
288.4
296.6
311.8
42.2
42.7
41.6
348.8
353.1
348.0
2163.8
2179.9
2201.3
7296.1
7335.9
7375.7
OCT.
NOV.
DEC.
98.7
102.1
102.9
48.5
50.0
45.9
61.2
58.9
51.0
109.6
108.9
96.9
80.1
79.3
81.1
116.0
116.6
117.3
321.4
325.6
336.8
40.4
41.0
41.7
345.8
343.3
344.7
2223.0
2251.2
2264.5
7423.9
7466.5
7509.8
1990-JAN.
FEB.
MAR.
106.0
107.0
106.8
47.5
51.6
50.1
46.1
45.4
45.0
93.6
96.9
95.2
73.9
68.4
66.6
118.0
118.5
119.4
338.2
329.2
337.7
40.4
37.5
36.1
347.3
347.6
343.8
2276.1
2293.9
2317.9
7543.0
7563.0
7594.3
APR.
MAY
JUNE
105.8
106.7
106.1
49.6
50.1
53.4
45.2
45.7
45.4
94.8
95.8
98.7
65.5
67.2
64.4
120.2
120.9
121.6
329.3
311.9
323.4
35.3
35.2
34.9
355.4
357.6
355.4
2329.2
2336.8
2359.0
7636.1
7670.9
7706.0
JULY
AUG.
SEP.
108.1
113.2
113.2
53.4
55.3
51.3
43.5
43.0
43.1
96.9
98.3
94.4
64.5
66.1
66.1
122.2
122.8
123.5 p
328.7
335.1
350.9 p
33.0
32.3
32.5 p
348.2
343.9
352.8 p
2382.4
2418.2
2440.6 p
7738.8
7759.3
7800.9 p
OCT. p
117.0
49.6
41.6
91.1
65.7
113.0
112.9
113.4
52.4
52.9
50.5
43.2
42.9
42.5
95.7
95.8
93.1
67.3
66.3
64.9
Neek. ending
1990-SEP. 10
17
24
OCT.
1
8
15
22
29p
113.6
114.6
115.5
118.9
119.1
47.2
47.5
48.8
50.6
51.2
43.4
42.9
42.0
40.9
40.6
90.6
90.4
90.8
91.5
91.8
64.7
64.7
65.8
66.3
66.1
NOV.
5p
118.9
51.2
40.7
91.9
65.8
1.
2.
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 bankmq offices in the United Kingdom and Canada. Excludes those held by depository institutions and money market mutual funds.
3.
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.
4.
Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market
mutual funds.
5.
Total commercial paper less commercial paper held by money market mutual funds.
6.
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
Time and savings
deposits due to
Foreign
foreign banks
Foreign
commercial
and official
official
banks
institutions
institutions
Date
IRA and Keogh Accounts
U.S. government deposits
Demand
deposits at
commercial
banks
Balance
at
Federal
Reserve
Note balances
at depository
institutions
Total
cash
balance
Time and
savings
At
deposits
At
at commercial commercial
thrift
banks
banks
institutions
At
money
market
funds
Total
1989-JUNE
10.0
1.7
4.6
9.7
21.6
35.8
1.4
102.8
130.0
23.8
256.5
JULY
AUG.
SEP.
10.0
8.9
9.4
1.7
1.6
1.7
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
3.3
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
28.0
266.9
267.8
270.0
1990-JAN.
FEB.
MAR.
9.8
9.1
9.0
1.6
1.6
1.6
4.4
3.5
3.6
6.0
6.2
5.3
18.8
18.5
13.1
29.1
28.2
22.0
1.4
1.3
1.3
110.3
111.9
113.3
133.9
133.9
133.9
29.6
31.2
31.7
273.8
277.0
278.9
APR.
MAY
JUNE
9.1
9.3
9.0
1.5
1.8
1.5
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
1.3
115.6
117.7
119.5
134.0
133.8
133.6
31.1
30.6
30.6
280.7
282.2
283.8
JULY
AUG.
SEP.
8.9
9.1
9.3
1.5
1.8
2.0
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
133.8 e
133.9 e
134.6 e
30.8
30.7
31.1 e
285.6 e
287.3 e
290.1 e
OCT. p
9.0
1.6
3.4
5.5
17.5
26.4
1.5
126.3
135.4 e
31.8 e
293.5 e
9.7
9.2
8.8
2.3
1.8
1.9
4.5
7.8
4.7
5.3
4.6
9.5
18.2
22.8
33.8
28.0
35.1
48.0
1.2
1.2
1.2
4.3
3.2
4.0
3.3
3.0
7.0
5.7
5.0
4.9
5.9
30.9
10.7
5.9
24.2
26.8
42.2
19.5
14.8
32.4
35.7
1.2
1.5
1.5
1.5
1.5
4.3
6.8
18.4
29.6
1.5
3.8
3.9
Neek ending
1990-SEP. 10
17
24
OCT.
1
8
15
22
29p
9.6
9.2
9.4
8.8
8.3
2.2
1.6
1.5
1.6
1.5
NOV.
5p
9.2
1.4
e—indicates estimated data,
p—indicates preliminary data.
3.9
@FedFRASER