Full text of H.6 Money Stock Measures : November 16, 1989

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

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

•"f^RE^>-

H.6 (508)
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

NOVEMBER 16, 1989

Billions of dollars
Date

M1 J

M2 2

Debt5

M3 3
Seasonally adjusted

1987-NOV.
DEC.

754.6
752.3

2904.6
2909.9

3670.3
3677.6

4334.3
4336.7

8262.6
8316.1

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

758.4
760.1
763.8
771.2
771.1
776.5
782.5
782.4
783.7
785.4
786.6
790.3

2930.5
2950.8
2969.5
2990.3
2999.8
3013.1
3023.9
3029.8
3035.1
3042.3
3059.5
3069.6

3702.
3732,
3757.
3780.
3795.
3816.
3839.
3851
3861
3877
3898
3915.4

4373.0
4403.3
4433.2
4471.8
4500.2
4517
4561
4579
4588
4609
4635
4672

8358.
8415.
8482.
8549.
8620.
8690.
8754.
8819.
8882.
8942.
9017.
9081.

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

786.3
787.4
786.3
783.1
773.3
770.3
777.1
777.4
781.1
787.6

3065.8
3069.4
3078.5
3080.8
3072.3
3088.0
3117.4
3135.9
3155.3
3176.1

3920.2
3929.4
3950.8
3958.8
3954.8
3973.5
4002.4
4008.4
4009.8
4023.5

4676.
4689.
4724.
4750.
4746.
4759.
4793.
4812.
4826.

9137.8
9206.1
9267.8
9323.7
9380.8
9431 6
9482 3
9557 1
9623 6 p

1987-NOV.
DEC.

756.5
766.4

2903.9
2918.7

3674.8
3688.6

4341.8
4350.9

8226.3
8297.6

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

765.2
745.5
752.6
779.1
764.6
779.9
786.9
782.3
781.0
782.1
788.3
804.4

2941
2938
2962
3001
2990
3015
3031.4
3030.5
3028
3038
3058
3077

3710.9
3720.7
3751.7
3786.8
3785.4
3816.8
3840.8
3852.4
3859.1
3875.6
3903.2
3925.2

4389.2
4399.1
4429.7
4475.2
4488.2
4517.6
4553.2
4574.7
4583.4
4605.2
4643.1
4685.6

8341.8
8378.7
8443.3
8509.6
8576.9
8649.9
8712.2
8773.4
8844.4
8909.5
8986.0
9066.4

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

793.0
772.3
775.1
791.3
767.1
773.8
781.7
777.5
778.4
784.3

3076.1
3056.9
3071.9
3092.4
3062.8
3090.8
3125.2
3137.0
3148.6
3172.0

3927..7
3917..4
3945..5
3964..3
3944..7
3974..1
4004..1
4010..0
4007.8
4021.0

4692.8
4686.2
4721.0
4751.8
4734.6
4759.8
4784.2
4807.0
4821.4 p

9121.8
9169.9
9226.5
9281.4
9337.2
9390.8
9438.8
9508.9
9581.6 p

Not seasonally adjusted

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




H.6 ( 5 0 8 )
Table 2

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

3 Months from JULY 1989 to OCT. 1989

Ml

M2

M3

Debt1

5.*

7.5

2.1

8.1

6 Months from APR. 1989 TO OCT. 1989

1.1

6.2

3.3

7.7

12 Months from OCT. 1988 TO OCT. 1989

0.3

4.4

3.8

8.3

Thirteen weeks ending NOVEMBER 6, 1989
from thirteen weeks ending:

AUG.

7, 1989 (13 weeks previous)

4.5

8.1

3.4

MAY

8, 1989 (26 weeks previous)

-0.4

5.4

3.4

7, 1988 (52 weeks previous)

-0.2

4.0

3.9

NOV.
1.

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely,
June 1989 to September 1989, March 1989 to September 1989, and September 1988 to September 1989, respectively.
Footnotes to Table 1

1.

2.

3.

4.
5.

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 (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 commercial banks and overnight Eurodollars issued
to U.S. residents by foreign branches of U.S. banks worldwide, money market deposit accounts (MMDAs), savings and smalldenomination 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 commercial banks and thrift institutions, term Eurodollars held by U.S. residents at foreign branches of U.S. banks
worloViide 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 foreion banks and official institutions. Also subtracted is the estimated amount of overnight RPs and
Eurodollars held by institution-only money market mutual funds. Seasonally adjusted M3 is obtained by adjusting its non-M2
component as a whole and then adding this result to seasonally adjusted M2.
Consists of M3 plus the nonbank public holdings of U.S. savings bonds, short-term Treasury securities, commercial paper
and bankers acceptances, net of money market mutual fund holdings of these assets.
Debt of domestic nonfinancial sectors consists of outstanding credit market debt of the U.S. government, state and local
overnments and private nonfinancial sectors. Private debt consists of corporate bonds, mortgages, consumer credit
including bank loans), other bank loans, commercial paper, bankers acceptances and other debt instruments.
The data are derived from the Federal Reserve Board's flow of funds accounts. All data on debt of domestic nonfinancial
sectors are presented in month-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.

?




H.6 ( 5 0 8 )
Table 3

MONEY STOCK MEASURES

Billions of dollars

Seasonally adjusi ted

4-week
average

week
average

3133.2
3138.5
3138.2

3985.8
3990.2
3993.9

4004.4
4007.3
4008.5

4010.7
4009.5
4005.4

3137.8
3142.9
3147.5
3152.6

3141.1
3153.8
3157.0
3158.5

3997.2

4000.8
4003.9
4006.1

4008.0
4009.6
4011.3
4011.1

4006.4
4017.2
4016.0
4004.7

3137.7
3142.0
3146.6
3151.3
3155.5

3158.5
3162.7
3167.9
3172.3
3176.3

3164.5
3170.6
3178.0
3176.2
3180.5

4007.2
4007.7
4009.2
4011.6
4013.8

4010.4
4009.3
4012.0
4018.1
4024.5

4003.6
4012.9
4026.9
4028.8
4029.2

3160.0

3181.3

3190.3

4015.9

4030.2

4035.7

4-week
average

774.7
779.2
777.1

3102.5
3107.6
3112.4

3126.6
3132.2
3135.4

776.3
778.2
778.4
779.6

774.1
782.3
779.9
781.9

3117.1
3122.4
3127.6
3132.6

778.7
779.3
780.2
781.2
782.0

783.2
784.2
786.4
788.0
787.5

788.6
786.5
788.5
788.5
786.4

782.8

787.9

788.3

13-week
average

4-week
average

1989-AUG. 14
21
28

774.2
774.8
775.0

776.1
777.0
777.4

4
11
18
25

774.9
775.9
776.8
777.8

OCT.

2
9
16
23
30p

NOV.

6p

SEP.

13-week
average

13-week
average

Period ending

M3

M2

Ml
week
average

week
average

Not seasonally adjusted
Ml

Period ending

13-week
average

4-week
average

1989-AUG. 14
21
28

775.8
777.2
777.9

777.2
779.2
778.4

SEP.

4
11
18
25

777.6
778.6
779.0
779.2

OCT.

2
9
16
23
30p

NOV.

6p

M3

M2
13-week
average

4-week
average

782.8
778.5
764.3

3105.1
3111.3
3116.6

3129.6
3136.2
3137.7

776.3
778.8
779.4
778.8

779.4
792.8
781.2
761.8

3120.8
3125.8
3130.3
3134.4

778.9
778.4
779.1
779.7
780.1

777.9
777.8
780.8
785.1
784.0

775.8
792.2
793.2
779.1
771.6

780.6

784.6

794.5

week
average

vtQok

week
average

13-week
average

4-week
average

3142.9
3140.0
3124.9

3986.0
3991.2
3995.3

4006.3
4010.9
4011.3

4019.8
4009.6
3995.5

3138.0
3143.0
3146.3
3147.9

3144.3
3162.6
3153.3
3131.2

3998.4
4002.1
4005.1
4006.9

4009.4
4011.4
4013.3
4010.5

4012.8
4027.8
4017.0
3984.4

3137.8
3140.6
3144.7
3148.8
3152.3

3149.0
3152.3
3159.4
3168.4
3172.3

3149.0
3175.6
3181.8
3167.0
3164.6

4007.4
4007.6
4009.0
4011.2
4012.9

4005.9
4004.3
4007.2
4016.1
4021.5

3994.4
4021.3
4028.8
4019.8
4016.0

3156.5

3177.6

3196.9

4014.8

4027.6

4045.8

average

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
Nontransactions
components

Date

Currency

1988-JUNE

204.7

1

Savings deposits7

In M5
only6

At
commercial
banks

At
thrift
institutions

805.4
815.4
821.7
826.0

187.7
189.1
190.0
190.1

259.8

2241.4
2247.5
2251.4

240.5
240.9
240.5

Travelers
checks2

Demand
deposits3

Other
checkable
deposits*

7.5

289.8

274.7

2256.6

278.5
278.5
279.0

In M2

5

Small time deposits8
commercial
banks

At
thrift
institutions

427.6

409.5

566.4

975.7

429
450
450

412.9
417.4
425.6

568.1
570.9
575.1

981,
988,
998.

Total

Total

JULY
AUG.
SEP.

206.4
207.0
208.6

290.4
289.9
288.8

OCT.
NOV.
DEC.

209.
210,
211.8

288.9
287.7
288.6

279.4
281.0
282.5

2256.9
2272.8
2279.5

855.
858.
845.8

189.8
192.8
192.S

259.4
259.1
258.8

429.2
451.8
451.5

450.9
456.4
445.1

578.8
581.4
582.2

1009.7
1017.8
1025.2

1989-JAN.
FEB.
MAR.

215.4
214.5
215.6

284.0
284.8
284.5

281.5
280.9
279.1

2279.6
2282.0
2292.2

854.
860.
872,

190,8
190.5
188.6

257.
254,
252,

427.8
424.6
420.8

451.
461,
472,

584.7
587.4
589.1

1055.7
1048.5
1061.0

APR.
MAY
JUNE

215.9
216.4
217.4

281,
278,
275.

278.5
271.4
270.7

2297.7
2299.0
2517.7

877.
882.
885.

185.
182.
181,

227.
222.
220.

412.8
404.7
402.0

485.
497,
501.

597.6
608.8
616.6

1085.1
1105.8
1118.5

JULY
AUG.
SEP.

218.0
218.4
219.5

278.8
277.5
277.5

275.2
274.4
277.5

2540.5
2558.5
2574.2

885.
872.
854.

181,
185.
184.

219.
219.
220.

401.
402.
404,

504.
508.
510.

621.5
625.4
621.7

1126.5
1151.5
1151.8

OCT. p

219.7

280.4

280.5

2588.5

847.5

185.1

220.6

405.7

515.6

615.8

1151.4

218.8
219.5
220.5

280.
276.
276,

276.2
276.9
277.5

2571.
2577,
2576,

865.
858.
846.

184.
184,
184.

220,
220.
219,

404.0
404.7
404.1

509.5
510.5
510.8

622.7
622.1
621.2

1152.
1152,
1152.

280.
280.
282.
281.
277.

280.4
279.5
279.6
280.4
281.1

2575.
2584.
2589.
2587.
2594.

859.
842.
848.
852.
848.

184.
184.
184.
184,
186.

219.7
220.1
220.7
220.8
221.0

404.4
404.7
405.5
405.7
407.2

511.2
512.2
515.6
518.4
517.6

619.8
619.5
616.6
615.1
615.2

1150.
1151,
1152.
1151.
1150.8

278.2

282.9

2402.0

845.5

186.8

222.1

408.8

516.5

615.8

1150.0

7.5

Heek ending
1989-SEP. 11
18
25
OCT.

2
9
16
25
50p

220
219
219
219
220.4

NOV.

6p

219.7

1.
2.

7.5

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.
5.
Demand deposits at commercial banks and foreign-re la ted 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 all depository institutions, credit union share draft balances and demand deposits at thrift institutions.
5.
Sum of overnight RPs and overnight 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.
6.
Sum of large time deposits, term RPs and term 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 funds. This sum is seasonally adjusted as a whole.
7.
Savings deposits exclude MMDAs.
8.
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.
e—indicates estimated data,
p—indicates preliminary data.




H.6 (508)
Table ^-continued

COMPONENTS OF MONEY STOCK , LIQUID ASSETS, AND DEBT
Billions of dollars>

seasonally

Large time
At
commercia 1
banks2

Date

5

adjusted

deposits1

At
thrift
institutions
m

Debt components6

Non-M3 components of L

Total

Savings
bonds

Short-term
Treasury
securities 3

Bankers
acceptances4

Commercial
paper5

Federal
debt

Non-federal
debt

1988-JUNE

339.6

168.2

507.8

106.0

253.6

40.7

300.4

2034.9

6655.4

JULY
AUG.
SEP.

345.5
350.8
355.0

168.5
168.6
171.7

514.0
519.4
526.7

106.8
107.4
107.9

264.6
268.6
268.8

40.7
41.2
41.7

309.8
311.3
308.8

2044.2
2058.5
2076.2

6710.5
6761.0
6806.0

OCT.
NOV.
DEC.

359.2
361.2
364.9

172.8
173.2
172.9

532.0
534.4
537.8

108.4
108.7
109.1

269.3
264.5
271.3

41.3
40.5
40.6

312.3
323.7
335.8

2084.7
2098.2
2113.5

6858.2
6919.6
6967.6

1989-JAN.
FEB.
MAR.

370.7
378.2
385.5

173.7
173.4
173.4

544.4
551.6
558.8

109.7
110.6
111.5

270.9
265.2
271.7

40.6
39.9
41.2

334.9
344.2
349.2

2121.8
2137.8
2158.7

7016.0
7068.4
7109.0

APR.
MAY
JUNE

392.5
395.8
396.4

175.2
176.3
176.6

567.7
572.1
573.0

112.3
112.9
113.8

278.1
285.0
279.2

41.4
41.1
41.1

359.5
352.3
351.4

2168.8
2176.5
2184.3

7154.9
7204.3
7247.3

JULY
AUG.
SEP.

397.7
396.9
395.1

175.4
172.2
167.9

573.0
569.1
563.1

114.6
115.2
115.7 p

283.0
290.5
307.9 p

42.0
42.8
41.7 p

351.3
355.3
351.6 p

2184.5
2204.6
2228.1 p

7297.8
7352.5
7395.5 p

OCT. P

396.6

163.1

559.7

11
18
25

395.9
396.8
394.1

169.4
168.6
166.8

565.4
565.3
560.9

OCT.

2
9
16
23
30p

392.7
394.5
396.2
398.5
398.3

165.3
164.5
163.9
162.4
161.4

558.1
559.0
560.1
560.9
559.7

NOV.

6p

397.8

160.4

558.2

Week e n d i n g
1989-SEP.

1.

Large denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking
facilities.
2.
Large denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions and
foreign banks and official institutions.
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 (508)
Table 5

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars> not seasonally adjusted
Other checkable deposiits
Travelers Demand
Currency* checks2 deposits3

Date

At
commercial
banks4

At
thrift
institutions**

Nontransactions
components

Total

In M2

6

In M3
only7

Overnight
RPs*

Overnight
Eurodollars9

Genteral purpose
and b roke r/dea1er
money' market funds

1988-JUNE

205.7

7.6

291.3

187.6

87.6

275.3

2235.6

801.3

63.6

17.2

228.9

JULY
AUG.
SEP.

208.0
207.9
208.0

8.2
8.2
7.9

293.1
289.0
287.4

188.7
188.8
189.7

88.9
88.4
88.1

277.7
277.2
277.8

2244.5
2248.2
2247.5

809.3
821.9
830.6

62.0
64.1
62.6

15.6
15.8
14.7

229.6
230.8
231.0

OCT.
NOV.
DEC.

209.0
211.3
214.9

7.5
7.1
6.9

288.7
290.0
298.8

189.0
191.3
195.0

88.0
88.6
88.7

276.9
279.9
283.7

2256.4
2269.7
2272.9

837.1
845.3
848.0

62.2
62.7
65.1

13.9
13.0
13.4

231.3
237.4
239.4

1989-JAN.
FEB.
MAR.

211.8
211.9
213.9

7.0
7.1
7.0

290.5
275.7
275.8

196.3
192.2
192.6

87.5
85.4
85.8

283.7
277.6
278.3

2283.1
2284.6
2296.8

851.5
860.5
873.6

65.2
63.9
63.1

16.6
15.1
14.3

241.7
247.2
255.5

APR.
MAY
JUNE

215.1
216.6
218.5

7.0
7.1
7.5

283.2
273.3
276.4

197.4
186.0
186.8

88.6
84.1
84.6

286.0
270.1
271.4

2301.1
2295.7
2317.0

871.9
881.8
883.3

60.1
58.9
61.4

14.4
14.6
14.6

259.3
259.0
265.1

JULY
AUG.
SEP.

219.7
219.3
218.6

8.1
8.1
7.7

281.5
276.7
275.9

187.1
188.4
190.4

85.3
84.9
85.8

272.4
273.3
276.2

2343.5
2359.5
2370.2

878.9
873.1
859.2

60.8
59.7
56.5

16.8
15.2
15.7

274.6
285.5
294.8

OCT. p

219.0

7.3

280.3

191.4

86.4

277.7

2387.7

849.0

59.3

14.1

301.5

219.8
218.2
217.2

7.8
7.7
7.6

282.7
277.5
267.8

194.3
191.6
185.9

88.2
86.2
83.3

282.5
277.8
269.2

2369.8
2372.1
2369.4

865.3
863.7
853.2

56.7
56.7
56.8

15.4
15.8
16.2

292.4
295.5
297.2

Meek ending
1989-SEP. 11
18
25
OCT.

2
9
16
23
30p

217.1
220.6
219.3
218.6
217.8

7.4
7.4
7.3
7.3
7.2

278.8
281.9
286.1
277.8
273.7

187.5
193.7
192.7
190.1
189.0

84.9
88.6
87.8
85.2
83.9

272.4
282.3
280.5
275.3
272.9

2373.2
2383.5
2388.6
2388.0
2392.9

845.4
845.7
847.0
852.8
851.4

54.1
56.9
60.3
59.5
61.5

16.1
14.7
14.6
12.9
13.9

297.8
298.6
299.4
303.2
305.2

NOV.

6p

220.5

7.2

281.7

196.2

88.9

285.1

2402.4

849.0

61.4

12.4

307.5

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 fore ion-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), MMOAs 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 commercial banks 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 (5081
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars* not seasonally adjusted
Savings deposits 1

Money market deposit accounts
At
At
thrift
commercial
institutions
banks

Date

Total

At
thrift
commerciail
institutions
banks

Small-denomination time deposits2
"
Total

At
At
commercial
thrift
banks
institutions

Total

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

Total

1988-JUNE

360.7

162.5

523.2

189.6

242.7

432.3

407.6

562.9

970.5

338.2

166.6

504.8

JULY
AUG.
SEP.

360.3
357.7
354.5

161.6
160.0
157.0

522.0
517.7
511.4

191.5
191.0
189.8

244.5
242.8
241.1

436.0
433.7
430.9

412.5
417.2
424.2

566.8
568.8
572.7

979.4
986.0
996.9

342.9
351.3
357.0

166.5
167.9
172.2

509.5
519.2
529.1

OCT.
NOV.
DEC.

353.0
354.1
352.5

154.5
152.6
150.3

507.5
506.7
502.7

190.2
192.2
190.3

240.7
238.2
235.6

430.9
430.4
425.9

431.3
437.7
444.1

579.3
581.8
582.4

1010.6
1019.5
1026.5

360.8
362.4
365.6

174.7
174.9
174.1

535.4
537.3
539.6

1989-JAN.
FEB.
MAR.

348.3
342.5
340.1

146.8
142.9
140.2

495.2
485.3
480.3

189.3
188.2
187.8

233.6
230.5
230.7

422.8
418.7
418.4

453.0
462.8
473.0

588.5
591.6
592.0

1041.6
1054.4
1065.1

370.4
378.1
387.0

174.9
174.3
173.2

545.3
552.4
560.2

APR.
MAY
JUNE

336.2
327.0
328.1

135.0
130.0
128.8

471.3
457.0
456.9

186.2
183.6
183.2

227.9
223.7
223.3

414.0
407.3
406.6

483.5
493.3
499.6

598.5
605.7
612.8

1082.0
1098.9
1112.4

390.4
394.5
394.9

173.7
175.2
174.8

564.1
569.8
569.7

JULY
AUG.
* SEP.

330.8
335.7
338.9

129.0
129.7
130.2

459.8
465.4
469.1

184.3
184.0
184.0

223.3
221.1
220.8

407.5
405.1
404.8

504.3
507.6
510.5

619.8
620.9
618.9

1124.1
1128.5
1129.4

394.9
397.7
397.3

173.3
171.3
168.3

568.2
569.0
565.6

OCT.

342.0

131.2

473.2

185.5

221.8

407.3

516.0

616.2

1132.2

398.3

164.9

563.2

340.2
339.8
336.9

130.7
130.4
129.8

470,
470,
466,

184
184
183

221,
221,
220.

405.4
405.0
403.6

509,
510.
511.

619.4
618.4
617.8

1129,
1128,
1128.

397.5
398.0
396.8

169.
168.
167.

566.5
566.3
564.4

Heek ending
1989-SEP. 11
18
25
OCT.

2
9
16
23
30p

338.2
340.5
342.1
342.7
342.9

130.1
131.2
131.2
130.8
131.9

468.3
471.8
473.
473.
474.8

184
185
185
185,
185,

221.1
222.8
222.6
221.5
220.6

405.4
408.3
408.1
407.0
406.2

511.9
513.1
515.8
518.3
517.8

619.
620.
617.
613.
613.

1131,
1133,
1132.
1131.
1131.

395.9
397.3
397.4
399.4
399.7

167.
166.
165.
164.
163.

563.
563.
562.
563.
563.

NOV.

6p

347.4

133.0

480.4

186.5

222.2

408.7

517.9

614.1

1132.0

398.9

162.4

561.3

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 )
T a b l e 5-con-lr i n u e d

COMPONENTS OF MONEY STOCK. LIQUID ASSETS, AND DEBT
Billions

of dollars>

not seasonally

Term RPs 1
At
Institutiono n l y money c o m m e r c i a l
banks
market funds

Date

86.3

1988-JUNE

48.0

8

adjusted

Non-M3 Components o f L

At
thrift
institutions

Total

76.4

124.4

Term
Eurodollars2
93.9

Debt

components6

Savings
bonds

Short-term
Treasury
securities3

Bankers
acceptances4

105.9

250.1

41.0

303.8

2016.5

6633.4

40.8
41.2
41.9

307.8
309.3
308.3

2024.1
2037.6
2056.6

6688.1
6735.8
6787.8

Commercial
paper5

Federal
debt

Non-Federal

debt

JULY
AUG.
SEP.

84.8
84.0
83.7

46.5
45.1
42.6

79.2
79.0
80.1

125.7
124.1
122.8

97.1
102.8
102.8

106.5
106.9
107.6

257.4
265.0
266.4

OCT.
NOV.
DEC.

84.6
87.4
87.6

43.1
45.3
40.4

82.3
83.0
83.7

125.4
128.3
124.1

100.2
101.6
105.8

108.3
108.7
109.2

266.7
270.3
277.7

41.5
40.9
41.0

313.1
320.0
332.5

2069.0
2090.0
2111.8

6840.4
6896.0
6954.6

1989-JAN.
FEB.
MAR.

89.3
89.6
87.6

40.9
44.7
46.3

84.3
83.7
84.6

125.2
128.4
130.9

100.7
100.0
105.5

110.1
111.0
111.7

275.4
271.7
273.9

40.3
39.8
40.4

339.4
346.3
349.4

2121.4
2133.7
2149.0

7000.4
7036.2
7077.5

APR.
MAY
JUNE

87.7
91.6
95.1

44.3
43.7
43.7

84.5
85.5
85.5

128.8
129.2
129.3

101.3
100.5
99.3

112.4
113.0
113.7

278.1
279.6
275.2

41.0
41.2
41.4

356.1
356.2
355.4

2155.1
2159.5
2165.1

7126.4
7177.7
7225.7

JULY
AUG.
SEP.

98.2
100.6
99.1

45.0
45.1
47.5

79.5
72.9
66.3

124.5
118.0
113.7

99.7
97.6
92.9

114.2
114.7
115.4 p

274.9
286.4
305.2 p

42.2
42.8
41.9 p

348.8
353.1
351.2 p

2164.2
2183.6
2208.3 p

7274.6
7325.3
7373.3

98.7

48.5

62.0

110.4

88.7

99.5
99.6
98.7

46.
48.
49.

68.6
67.6
63.8

114.
115,
113,

96.
94,
89,

47,
47.
47.
49.
50.

61.8
62.2
63.6
61.3
60.8

108,
109,
110,
110,
111.8

87.4
87.4
87.4
90.9
89.3

49.4

61.3

110.7

88.7

OCT. p

p

Week ending
1989-SEP.

11
18
25

OCT.

2
9
16
23
30p

98.1
97.7
97.8
100.1
99.2

NOV.

6p

99.4

Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs. Includes a relatively small amount
of overnight RPs at thrift institutions.
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 a11 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
Billions of dollars, not seasonally adjusted
Demand deposits
at banks due to

Foreign
Foreign
commercial m official
banks
institutions

Date

IRA and Keogh Accounts

U.S. government depossits
Time and savings
deposits due to
foreion 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
deposits
A*
at commercial commercia 1
thrift
banks
banks
institutions

At
money
market
funds

Total

1988-JUNE

9.6

1.8

4.2

4.5

4.1

16.7

25.0

1.7

89.4

117.7

18.4

225.5

JULY
AUG.
SEP.

10.0
9.3
9.6

1.9
1.7
1.6

4.5
4.5
4.5

5.4
5.0
4.1

5.9
5.2
7.4

18.6
8.9
20.4

25.9
15.1
52.0

1.7
1.6
1.5

90.2
91.2
91.8

119.0
119.5
120.5

18.5
18.7
18.7

227.7
229.4
251.0

OCT.
NOV.
DEC.

9.2
9.4
9.7

1.6
1.8
1.9

4.5
4.5
4.2

5.2
5.4
4.2

6.2
5.2
5.5

24.5
12.8
18.7

54.0
21.5
28.4

1.5
1.5
1.6

92.5
95.5
95.9

121.5
121.8
122.6

18.8
19.6
20.5

252.9
254.7
257.0

1989-JAN.
FEB.
MAR.

9.5
9.5
9.0

1.8
1.8
1.7

4.2
4.2
4.1

4.0
5.7
5.8

8.1
5.8
5.2

21.0
22.2
14.5

55.1
51.7
25.5

1.5
1.5
1.5

95.1
96.2
97.4

125.7
124.5
125.4

20.7
21.2
22.2

259.5
241.7
244.9

APR.
MAY
JUNE

9.0
8.9
9.9

1.7
1.7
1.8

4.1
4.2
4.2

5.2
5.5
4.6

8.9
14.1
9.7

15.0
51.0
21.6

29.0
48.5
55.9

1.6
1.6
1.5

99.9
101.8
102.8

127.5
128.5
129.9

25.1
25.8 e
24.0 e

250.5
254.2 e
256.7 e

JULY
AUG.
SEP.

9.8
8.7
9.2

1.8
1.7
1.7

4.1
4.1
4.1

5.4
5.2
5.5

6.4
5.4
7.8

19.6
12.7
19.4

29.4
21.2
52.6

1.5
1.5
1.5

104.1
105.5
105.7

151.1
152.0
152.9 e

24.0 e
24.0 e
24.0 e

259.5 e
261.2 e
262.6 e

OCT. p

9.7

1.7

4.1

5.5

5.9

17.4

26.5

1.5

106.9

155.9 e

24.0 e

264.8 e

8.9
9.4
9.0

1.9
1.5
1.8

4.1
4.1
4.1

5.9
12.1
5.7

4.2
5.0
12.5

9.4
15.5
51.5

17.5
50.4
47.7

1.5
1.5
1.5

Week ending
1989-SEP. 11
18
25
OCT.

2
9
16
25
50p

9.9
10.1
9.6
9.9
9.5

1.9
1.7
1.8
1.7
1.7

4.2
4.1
4.1
4.1
4.1

5.1
5.7
5.7
2.9
2.8

12.0
5.5
5.6
5.6
5.1

28.5
16.2
15.6
17.1
19.6

45.6
25.2
22.9
25.6
27.5

1.5
1.5
1.6
1.5
1.5

NOV.

6p

10.0

1.6

4.1

4.9

6.7

15.2

26.8

1.6

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




11.6 < 508)
Special Supplementary 'fable

Monthly Survey of Selected Deposits
September 27,1989 and October 25, 19891
(not seasonally adjusted)

Insured Commercial Banks
Average Rate Paid (%}
Amount Outstanding (Smil)
Change
Change
October 25
September 27. October 25
foenxiiU... _ September 27

Liability Categories

5.05

5.03

-2

2.02

6.55

6.48

-7

1.96

6.43

6.38

-5

181,830

1.15

5.57

5.59

2

42.168

3.06

7.88

7.77

-11

8.01

-8

182,305

187,722

2.97

Personal

229.703

234,354

Non personal

104.450

106.495

179,755

40,917

NOW Accounts
Money market deposit accounts

Savings deposits
Interest-bearing time deposits
with balances of less than
$100,000 with original
maturities of:
7 to 91 days
92 to 182 days

147.174

149,032

1.26

8.09

183 days to 1 year

173,141

176.598

2.00

8.16

8.09

-7

1 to 2-1/2 years

124.624

126.857

1.79

8.13

8.07

-6

2-1/2 years and over

132.295

132,345

0.04

8.10

8.03

-7

106.430

107,622

1.12

N.A.

N.A.

N.A.

2

All f RA/Keogh Plan deposits

FDIC-insured Savings Banks
Amount Outstanding ($mil)
Average Rate Paid (%)
Liability Categories
NOW Accounts

September 27 October 25
7,588
7,468

Change
(pcrcenO
1.61

September 27
5.49

October 25
5.53

Change
(b,p,)

Money market deposit accounts
Personal

25,333

25,561

0.90

7.24

7.18

Nonpersonal

1.683

1,682

-0.06

6.68

6.62

39.615

39,642

0.07

5.63

5.63

4.928

4,994

1.34

8.57

8.32

-25

26.051

26,796

2.86

8.56

8.51

-5

183 days to 1 year

36,704

36,740

0.10

8.55

8.52

-3

1 to 2-1/2 years

27.020

26,016

-3.72

8.48

8.45

-3

2-1/2 years and over

23,587

23,410

-0.75

8.45

8.41

-4

22.613

22,738

0.55

N.A.

N.A.

N.A.

Savings deposits
Interest-hearing time deposits
with balances of less than
$100,000 with original
maturities of:
7 to 91 days
92 to 182 days

All IRA/Keogh Plan deposits3

N.A. — data are not available
NOTE: Data for earlier month may show revisions.
1.
Estimates are based on data collected by the Federal Reserve System from a stratified random sample of about 500 commercial hanks and
80 savings banks. All rates arc expressed as annual effective yields.
2. Total IRA and Keogh Plan deposits regardless of size, type of instrument in which held, or interest rate paid.
3.
FDIC-insurcd savings banks include both mutual and federal savings banks.