Full text of H.6 Money Stock Measures : November 19, 1992

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

NOVEMBER 19, 1992

Billions of dollars
Date

Ml ]

M2 2

DEBT5

M3 J
Seasonally adjusted

1990-NOV.
DEC.

823.8
826.1

3333.7
3339.0

4115.6
4114.6

4958.8
4965.2

10716.0
10751.3

1991-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

826.2
836.2
842.3
842.7
850.9
857.3
860.0
866.5
872.0
880.9
891.4
898.1

3344..0
3369..4
3386..9
3394.8
3405.6
3411.8
3407.5
3409.8
3411.9
3418.0
3431.8
3439.9

4125.8
4160.2
4165.9
4168.8
4170.5
4167..7
4157..3
4156..7
4152..9
4159..1
4166..9
4171.0

4980.4
5007.2
5002.7
4976.8
4956.7
4984.7
4989.8
4983.5
4972.7
4976.3
4989.4
4988.1

10776.4
10826.5
10865.2
10887.6
10941.4
10993.9
11024.7
11059.7
11093.6
11131.0
11171.3
11200.4

910.4
931.0
939.0
942.8
954.3
951.7
960.5
973.1
988.6
1007.2

3447.
3474.
3475.9
3471.7
3473..3
3464..7
3462..7
3472..0
3482..4
3497..6

4173.7
4198.7
4191.8
4179.2
4178..5
4166..7
4162..6
4174..3
4180..1
4182..9

4980.5
5009.0
5019.9
5012.6
5002.3
5013.7
5005.7
5023.0
5041.9 p

11234.5
11282.8
11340.0
11388.8
11430.8
11481.7
11526.0
11569.0
11604.0 p

1992-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT. p

Not seasonally adjusted
1990-NOV.
DEC.

826.1
844.1

3336.9
3351.9

4118.5
4124.7

4966.4
4984.9

10689.9
10739.9

1991-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

832.7
823.4
835.0
853.0
841.7
858.1
862.3
864.5
867.4
875.5
893.9
917.3

3351.3
3358.3
3388.4
3410.8
3388.7
3408
3410
3409
3404
3413
3435
3453

4129.7
4150.8
4171..6
4183..0
4156..9
4165..2
4158..6
4160..2
4145.2
4150.0
4169.1
4181.7

4998.3
5002.0
5009.9
4989.3
4941.7
4972.8
4981.4
4978.
4963.
4966.
4996.
5008.

10764.8
10797.4
10827
10846
10894
10944
10976
11015
11060.8
11105.6
11149.5
11190.5

918.2
916.8
930.8
954.7
944.0
952.1
963.0
970.6
983.0
1001.2

3455.6
3461.8
3476.5
3489.8
3455.6
3460.6
3465.8
3471.1
3473.8
3492.9

4178.8
4188.2
4196.8
4196.0
4164.1
4163.8
4163.7
4177.0
4171.2
4173.4

4998.6
5002.3
5026.8
5027.5
4985.8
5000.9
4997.4
5016.6
5031.7

11222 0
11251, 1
11300. 3
11346, 1
11384. 3
11434. 0
11480. 6
11531. 1
11576. 9 P

1992-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT. p

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
Ml

M2

M3

Debt ]

3 Months from JULY 1992 to OCT. 1992

19. 4

4.0

2.0

4.3

6 Months from APR. 1992 TO OCT. 1992

13.7

1.5

0.2

4.7

12 Months from OCT. 1991 TO OCT. 1992

14.3

2.3

0.6

4.6

15.7

2.6

1.4

11, 1992 (26 weeks previous)

11.4

0.8

-0.4

NOV. 11, 1991 (52 weeks previous)

13.6

2.1

0.6

Thirteen weeks ending NOVEMBER 9, 1992
from thirteen weeks ending:

AUG. 10, 1992 (13 weeks previous)
MAY

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely,
June 1992 to September 1992, March 1992 to September 1992, and September 1991 to September 1992, respectively.
Footnotes to Table 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 floatj 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 worloViide, savings deposits (including money market deposit accounts),
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. residents 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 quartei—end
basis and include discontinuities.




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
Seasonally adjus ted

Ml
Period ending

13-week
average

4-week
average

1992-AUG. 17
24
31

958.9
960.5
962.0

968.6
971.1
974.1

M3

M2
week
average

13-week
average

4-week
average

974.9
971.9
978.0

3465.7
3466.1
3466.5

3468.4
3470.1
3472.9

13-week
average

4-week
average

week
average

3472.5
3469.4
3476.0

4166.9
4166.5
4167.9

4169.3
4170.8
4175.4

4174.3
4171.2
4183.9

week
average

SEP.

7
14
21
28

964.1
966.6
969.9
973.2

976.9
979.6
984.4
987.7

982.8
985.6
991.0
991.2

3467.1
3468.1
3469.8
3471.8

3474.6
3477.5
3480.9
3482.2

3480.5
3484.2
3483.0
3481.0

4167.9
4169.0
4170.3
4172.2

4176.7
4180.6
4183.6
4181.8

4177.2
4189.9
4183.5
4176.7

OCT.

5
12
19
26

976.3
980.2
983.6
987.2

991.9
997.2
1000.8
1005.3

999.8
1006.9
1005.2
1009.1

3473.8
3476.7
3479.4
3482.0

3484.2
3488.0
3491.4
3495.4

3488.5
3499.5
3496.4
3497.0

4173.2
4175.3
4176.4
4178.0

4177.3
4178.4
4177.6
4180.0

4159.1
4194.3
4180.3
4186.4

991.2
994.8

1009.5
1012.5

1016.9
1018.8

3485.4
3488.6

3500.3
3504.2

3508.4
3515.0

4180.0
4181.6

4188.0
4187.6

4190.8
4192.9

NOV.
9p

Not seasonally adjusted
Ml

Period ending

13-week
average

4-week
average

1992-AUG. 17
24
31

958.4
960.6
962.1

967.0
970.1
969.9

M3

M2
13-week
average

4-week
average

975.4
959.8
964.4

3463.6
3465.1
3465.8

3468.8
3471.4
3470.1

week
average

week
average

13-week
average

4-week
average

3475.6
3457.6
3461.3

4166.2
4166.9
4168.1

4173.2
4176.5
4176.0

4182.1
4163.1
4170.7

week
average

SEP.

7
14
21
28

964.2
966.6
969.4
971.7

972.7
977.2
982.2
983.0

991.1
993.4
979.9
967.4

3466.5
3467.7
3469.0
3470.1

3470.6
3474.7
3477.1
3474.4

3488.0
3492.0
3466.9
3450.8

4168.0
4168.9
4169.9
4171.0

4175.3
4179.3
4180.2
4174.0

4185.1
4198.3
4166.7
4145.9

OCT.

5
12
19
26

973.5
976.2
979.4
982.7

985.7
988.3
993.9
999.6

1002.2
1003.5
1002.6
990.2

3471.1
3472.7
3475.3
3477.6

3475.0
3476.9
3484.3
3491.1

3490.2
3499.8
3496.5
3477.7

4171.0
4172.0
4172.8
4173.6

4167.1
4165.5
4167.4
4171.1

4157.6
4191.8
4174.2
4160.8

986.0
989.5

1001.1
1006.6

1008.1
1025.5

3480.2
3483.0

3493.5
3499.4

3499.9
3523.3

4174.0
4175.0

4176.2
4178.5

4177.8
4201.1

NOV.

2p
9p

N o t e : S p e c i a l c a u t i o n should be taken i n i n t e r p r e t i n g week-to-week changes i n money supply d a t a , which are h i g h l y v o l a t i l e and s u b j e c t to
revision.
p—indicates preliminary data.




H.6 (508)
Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars> seasonally adjusted
Nontransactions
components

Other checkable deposits
A*
commercial
banks*
223.5

At
thrift
institutions5

Total

In M2 6

In M37
only

88.2

311.6

2554.5

755.9

Date

Currency

Travelers
checks2

1991-JUNE

257.6

7.9

280.1

JULY
AUG.
SEP.

259.3
261.3
262.9

7.8
7.8
7.8

279.3
280.1
280.6

225.8
229.5
232.4

87.8
87.8
88.2

313.7
317.3
320.6

2547.5
2543.3
2540.0

749.8
747.0
741.0

OCT.
NOV.
DEC.

264.8
266.0
267.3

7.9
8.0
8.2

283.8
287.6
289.5

235.4
239.2
241.6

89.1
90.5
91.6

324.5
329.7
333.2

2537.1
2540.4
2541.8

741.1
735.2
731.1

1992-JAN.
FEB.
MAR.
APR.
MAY
JUNE

269.4
271.6
271.8

8.2
8.1
8.0

293.9
305.1
309.6

245.9
250.7
252.8

93.2
95.6
96.7

339.0
346.3
349.5

2537.3
2543.5
2536.9

726.0
724.1
715.9

273.6
274.7
276.2

8.0
8.0
7.9

311.2
315.1
311.0

252.9
259.3
259.5

97.1
97.1
97.2

350.0
356.4
356.7

2529.0
2519.0
2513.0

707.5
705.2
702.0

JULY
AUG.
SEP.

278.9
282.3
286.4

7.8
7.9
8.3

315.6
320.7
327.8

261.0
263.9
266.1

97.2
98.3
100.0

358.2
362.2
366.1

2502.2
2498.9
2493.7

699.9
702.3
697.7

OCT. p

288.4

8.6

336.5

272.0

101.7

373.7

2490.4

685.2

285.7
286.4
286.7

8.3
8.4
8.5

325.
329.
331.

266.0
267.2
264.4

99.7
99.2
99.9

365.7
366.5
364.4

2498.6
2492.1
2489.8

705.7
700.5
695.7

287.4
288.7
288.6
288.8

331.
338.
336.
337.

268.8
269.6
270.4
273.8

103.2
101.9
101.2
100.9

372.0
371.5
371.6
374.7

2488.7
2492.6
2491.2
2487.9

670.6
694.8
683.9
689.4

288.7
289.5

339,
338,

277.6
279.4

102.8
103.3

380.4
382.7

2491.5
2496.2

682.4
677.9

1

Demand
deposits3

Neek ending
1992-SEP. 14
21
28
OCT.

NOV.

5
12
19
26
2p
9p

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 overniqht RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including
money market (Deposit accounts) 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
At
At
commercial
thrift
banks
institutions

Date

Large-denomination time deposits 3

Small-denomination time deposits 2

Total

At
At
commercial
thrift
banks
institutions

Total

General purpose
and broker/dealer
money market funds

Institutiononly money
market funds

At
At
commercial
thrift
tie re 4
institutions
banks 4^*

Total

1991-JUNE

617.3

359.6

976.8

617.8

522.8

1140.6

368.8

155.3

377.9

100.4

478.3

JULY
AUG.
SEP.

623.2
630.4
636.7

363.0
363.7
365.7

986.1
994.1
1002.4

617.5
621.2
619.5

512.0
499.6
491.5

1129.5
1120.8
1111.0

367.9
362.4
359.9

155.
158.
162.

373.8
372.0
368.1

97.
93.
90.

471.
465.
458.

OCT.
NOV.
DEC.

645.7
655.4
664.9

369.3
373.3
377.7

1015.0
1028.7
1042.6

614.1
606.4
598.5

481.1
472.8
464.5

1095.2
1079.2
1063.0

359.3
359.5
360.5

168.
173.
179.

362.
357.
354.

87.
85.
83,

450.
442.
437.

1992-JAN.
FEB.
MAR.

676.0
688.9
695.2

385.2
395.0
402.7

1061.2
1083.9
1098.0

587.7
576.2
569.2

455.2
443.6
433.6

1042.9
1019.8
1002.8

358.6
361.7
358.3

182.4
188.2
185.3

346.4
341.7
336.8

81.
79.
76.

427.
420.
413.

APR.
MAY
JUNE

703.2
707.9
710.7

408.0
414.4
416.2

1111.2
1122.4
1127.0

566.0
558.1
551.5

419.2
410.7
404.7

985.3
968.7
956.2

355.9
356.7
355.5

189.2
194.8
199.7

331,
329.
325.

73.8
71.3
69.8

405.
400.
395,

JULY
AUG.
SEP.

716.3
724.3
734.4

418.1
421.3
425.1

1134.4
1145.6
1159.5

543.8
535.3
527.9

398.5
392.1
386.4

942.4
927.4
914.2

352.4
350.7
345.7

207.
217.
217.

319.
316.
312.

69.5
68.2
68.0

388.
384.
380.

OCT. p

743.2

428.2

1171.3

519.8

377.5

897.3

348.8

205.4

305.3

67.8

373.2

734.5
736.5
736.4

424.
426.
426.8

1158.6
1162.7
1163.2

529.
527.
525.

387.5
386.1
384.1

917.
913.
909.

346.2
343.9
345.6

223.2
220.6
220.5

313.4
311.9
308.5

68.1
68.0
67.8

381.5
379.9
376.3

737.5
743.2
743.9
744.5

426.
427.
428.
429.

1164.
1170.
1171.
1173.

522,
521.
519.
518.

381.3
378.8
377.5
375.9

903.
900.
897.
894.

342.8
347.7
350.7
349.4

193.2
211.1
203.3
210.1

307.5
309.9
306.7
301.6

68.3
68.2
67.8
67.6

375.8
378.1
374.6
369.2

745.9
750.2

430.
431.

1176.
1181.

516.
514.

374.3
372.6

890.6
886.8

353.
351.

205.3
203.1

300.0
301.4

67.2
66.8

367.2
368.2

Week ending
1992-SEP. 14
21
28
OCT.

NOV.

5
12
19
26

2p
9p

1.
2.

Savings deposits include money market deposit accounts.
Small-denomination time deposits — including retail RPs--are those issued in amounts of less than $100,000. All IRA and Keogh account balances atr
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 (508)
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Debt components4

Non-M3 Components of L
Savings
bonds

Short-term
Treasury
securities1

1991-JUNE

132.4

323.5

28.1

JULY
AUG.
SEP.

133.5
134.4
135.2

331.1
328.9
321.2

OCT.
NOV.
DEC.

136.1
137.1
137.9

1992-JAN.
FEB.
MAR.

Federal
debt

Non-Federal
debt

333.0

2616.6

8377.3

28.1
27.2
25.8

339.8
336.3
337.7

2639.
2665.
2686.

8384.8
8394.0
8407.6

319.7
322.9
316.1

25.3
24.5
23.3

336.
337,
339.

2713.
2742.
2764.8

8417,
8429.
8435,

138.9
140.1
141.2

310.0
319.9
327.7

23.2
22.9
22.2

334.8
327.5
337.0

2782.6
2801.8
2841.7

8451.
8481.
8498.

APR.
MAY
JUNE

142.4
143.5
144.6

327.6
328.9
333.3

21.6
22.0
22.0

341,
329,
347,

2876.
2906.
2942.

8512.
8524.
8539.

JULY
AUG.
SEP. p

145.9
147.5
149.5

325.2
327.8
326.4

21.7
21.0
21.5

350,
352,
364,

2968.2
2991.6
3004.1

8557.8
8577.4
8599.8

Date

1.

Banker?
accept a nc

Commercial
paper 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.
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
Nontransactions
components

Other checkable deposits

Currency 1

Date

Travelers
checks 2

Demand
deposits3

At
commercial
banks 4

At
thrift
institutions5

Total

In M 2 6

In M3
only 7

Overnight
RPs 8

Overnight
Eurodollars9

1991-JUNE

259.1

8.1

279.9

222.0

89.0

311.0

2549.9

757.1

52.3

15.6

JULY
AUG.
SEP.

260.8
262.0
261.7

8.5
8.6
8.3

280.9
278.8
278.6

223.1
226.9
230.6

89.0
88.3
88.2

312.1
315.1
318.7

2548.3
2544.9
2536.8

748.0
750.8
741.0

51.2
53.1
52.3

13.8
14.5
14.6

OCT.
NOV.
DEC.

263.1
266.3
270.0

8.0
7.7
7.7

283.7
291.1
303.0

232.0
238.1
244.8

88.6
90.7
91.7

320.6
328.8
336.5

2537.9
2541.1
2536.5

736.6
734.2
728.0

53.8
54.3
53.7

16.3
19.5
22.6

1992-JAN.
FEB.
MAR.

267.8
269.5
271.0

7.8
7.8
7.7

300.0
296.3
302.0

250.7
250.5
254.2

91.8
92.7
95.8

342.5
343.2
350.0

2537.5
2544.9
2545.7

723.1
726.4
720.4

55.9
58.4
54.2

21.9
19.4
20.6

APR.
MAY
JUNE

273.4
275.7
277.3

7.6
7.7
8.2

312.9
307.5
310.6

261.4
255.8
257.8

99.4
97.3
98.3

360.8
353.1
356.1

2535.1
2511.6
2508.5

706.2
708.6
703.2

53.5
51.0
53.0

19.3
18.4
19.3

JULY
AUG.
SEP.

280.8
282.9
284.7

8.6
8.8
8.9

317.2
319.2
325.4

257.8
260.8
264.0

98.6
98.9
100.0

356.4
359.7
364.1

2502.8
2500.4
2490.8

697.9
705.9
697.4

53.8
59.7
57.3

19.0
16.5
17.3

OCT. p

287.0

8.7

336.3

268.1

101.1

369.2

2491.7

680.5

56.6

19.6

285.0
284.5
283.5

8.8
8.9
8.9

330.
323.
321.

267.
264.
257,

101.4
99.4
96.6

369,
363
354,

2498.
2486.
2483.

706.
699.
695.

58.
55.
56.

16,
16.
19.

286.0
288.2
287.0
286.2

8.9
8.8
8.7
8.6

337,
336,
339,
330.6

267.4
267.9
266.8
266.2

102.8
102
101
98.

370.2
370.3
367.8
364.8

2488,
2496.
2493.
2487.

667.
692.
677.
683.

58.
56.
56.
55,

20.2
19.4
18.8
19.1

286.4
290.3

8.5
8.4 e

339.6
342.0

272.0
279.8

101.
105.

373.6
384.8

2491.
2497.

677.9
677.8

56.8
56.4

21,
20.

Week ending
1992-SEP. 14
21
28
OCT.

NOV.

5
12
19
26
2p
9p

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 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), savings deposits (including money market
deposit accounts) 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.
Consists of overnight and continuing contract RPs issued by all depository institutions to other than depository institutions and money market
8
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
At
A*
thrift
commercia,1
banks
institutions

Date

Large-denomination time deposits 3

Small-denomination time deposits2

Total

At
At
thrift
commercial
institutions
banks

Total

At m
At
General purpose Institutionthrift
and broker/dealer only money commercial
4
banks
institutions
money market funds market funds

Total

1991-JUNE

620.0

361.1

981.1

615.7

521.0

1136.7

364.2

152.3

379.1

100.7

479.9

JULY
AUG.
SEP.

626.1
631.9
635.8

364.7
364.6
365.1

990.9
996.5
1001.0

617.3
620.8
619.1

511.9
499.3
491.2

1129.2
1120.0
1110.3

363.3
360.7
358.7

151.5
156.2
157.4

373.5
373.8
369.7

97.3
93.9
90.8

470.8
467.8
460.5

OCT.
NOV.
DEC.

644.6
655.3
662.4

368.7
373.2
376.3

1013.3
1028.5
1038.7

615.2
606.9
598.7

482.0
473.2
464.6

1097.1
1080.1
1063.4

357.4
358.6
358.1

163.4
172.7
180.3

362.8
356.9
352.8

87.4
85.1
82.8

450.2
441.9
435.5

1992-JAN.
FEB.
MAR.

672.3
685.2
696.8

383.1
392.9
403.7

1055.4
1078.1
1100.5

589.5
577.6
569.5

456.6
444.7
433.7

1046.1
1022.4
1003.2

358.2
366.7
367.3

188.1
196.9
191.4

344.0
340.6
337.3

80.9
78.8
76.2

424.9
419.4
413.5

APR.
MAY
JUNE

706.1
708.0
714.1

409.6
414.4
418.2

1115.7
1122.4
1132.2

565.5
556.4
549.5

418.8
409.4
403.2

984.3
965.7
952.7

362.3
354.0
351.2

190.9
195.5
195.7

330.9
330.9
326.8

73.6
71.5
70.1

404.4
402.4
396.9

JULY
AUG.
SEP.

719.8
726.2
733.4

420.2
422.4
424.5

1140.0
1148.5
1157.9

543.6
534.9
527.5

398.4
391.9
386.1

942.0
926.7
913.7

348.0
349.0
344.6

202.2
213.8
210.0

318.9
318.0
313.2

69.4
68.6
68.3

388.3
386.6
381.5

OCT. p

741.9

427.4

1169.3

520.8

378.2

899.0

347.2

199.5

305.4

67.8

373.2

736.5
733.6
731.0

425,
424,
423,

1161.
1158.
1154.

528.8
526.9
525.3

387.
385,
384.

915.8
912.5
909.5

346.2
344.4
343.8

217,
213,
210,

315.
312.
309.

68.
68,
68,

383.5
381.0
377.2

736.9
744.2
743.2
741.0

426,
427,
427,
427,

1163.1
1171.8
1170.8
1168.1

524.1
523.0
520.8
519.1

382,
379.
378.
376,

906.
902.
898.
895,

339.5
346.2
348.5
349.8

183,
205.
195.8
206.7

308.
310.
306.
301,

68.5
68.3
67.8
67.5

377.0
378.8
374.2
368.8

743.2
751.6

428.5
431.8

1171.8
1183.5

516.9
514.7

374.
373.

891,
887,

350.7
349.9

202,
200.

299,
301.

67,
66.

366.5
367.9

Neek ending
1992 -SEP. 14
21
28
OCT.

NOV.

5
12
19
26
2p
9p

1.
2.

Savings deposits include money market deposit accounts.
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 (508)
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
B i l l i o n s of d o l l a r s , not seasonally adjustea

9

Term RPs1
At
At
commercial
thrift
banks
institutions

Date

Debt components6

Non-M3 Components of L
Total

Term
Eurodollars2

Savings
bonds

Short-term
Treasury
securities3

Bankers
acceptances*

Commercial
paper5

Federal
debt

Non-Federal
debt

1991-JUNE

49.1

29.3

78.4

61.6

132.7

312.3

27.8

334.9

2586.4

8357.9

JULY
AUG.
SEP.

49.7
49.0
48.3

29.1
29.2
28.2

78.7
78.2
76.5

62.7
63.6
61.5

133.6
134.3
135.0

322.5
323.4
322.2

27.9
27.2
25.5

338.8
333.1
335.8

2609.3
2642.9
2673.1

8366.8
8372.5
8387.7

OCT.
NOV.
DEC.

49.2
48.3
47.4

26.1
24.9
23.0

75.2
73.3
70.4

62.8
61.5
57.2

135.9
136.8
137.7

323.7
331.9
328.6

25.1
25.2
24.5

331.5
333.8
335.8

2707.6
2740.8
2765.0

8398.0
8408.7
8425.5

1992-JAN.
FEB.
MAR.

48.5
49.3
51.5

21.8
22.1
21.5

70.3
71.5
73.0

55.3
55.9
57.9

138.8
140.1
141.4

318.6
321.0
328.8

23.7
22.7
21.8

338.7
330.4
338.0

2782.5
2799.1
2834.7

8439.5
8451.9
8465.6

APR.
MAY
JUNE

51.7
52.9
52.8

20.5
20.1
20.2

72.2
73.0
73.0

55.0
52.8
51.8

142.7
143.9
144.9

322.5
320.8
321.7

21.3
21.6
21.7

345.0
335.4
348.8

2863.5
2884.1
2912.2

8482.7
8500.2
8521.9

JULY
AUG.
SEP.

51.3
53.0
55.0

20.4
18.9
18.3

71.6
71.9
73.3

50.3
49.3
46.9

146.0
147.4
149.2 p

316.9
322.2
327.6 p

21.6
21.0
21.3 p

349.3
349.0
362.3 p

2937.5
2970.3
2993.9 p

8543.1
8560.8
8583.0 p

OCT. p

57.1

18.7

75.8

46.6

54.7
55.3
56.1

18.4
18.2
18.0

73.0
73.4
74.1

46.6
46.5
47.0

55.5
56.6
56.2
58.5

18.4
18.7
18.8
19.0

73.8
75.3
75.0
77.5

47.1
47.5
46.2
46.1

59.0
58.9

18.3
18.7

77.3
77.6

46.4
46.6

Meek ending
1992-SEP. 14
21
28
OCT.

NOV.

5
12
19
26
2p
9p

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 banking 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

Foreign
Foreign
commercial
official
banks
institutions

Date

U.S. government depos;its
Time and savings
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

IRA and Keogh Accounts
Time and
savings
deposits
At
At
at commercial commercia 1
thrift
banks
banks
institutions

At
money
market
funds

Total

1991-JUNE

7.6

1.5

6.3

5.0

6.3

18.6

29.9

1.5

140.3

135.4

43.9

319.6

JULY
AUG.
SEP.

8.0
7.9
7.8

1.5
1.5
1.5

6.3
6.5
6.6

3.7
3.6
5.2

6.6
5.8
7.8

17.1
13.5
21.7

27.3
22.9
34.7

1.6
1.5
1.5

141.8
143.1
144.4

134.6
133.2
131.6

42.2
42.8
43.3

318.5
319.1
319.4

OCT.
NOV.
DEC.

7.7
7.9
8.1

1.5
1.5
1.7

6.7
6.7
6.6

3.6
4.4
4.8

5.7
6.0
7.4

25.0
24.2
20.5

34.4
34.6
32.8

1.5
1.6
1.5

145.9
147.0
147.7

131.2
131.2
131.2

43.4
43.0
42.3

320.5
321.3
321.2

1992-JAN.
FEB.
MAR.

8.3
7.6
7.6

1.7
1.6
1.5

6.5
6.5
6.5

5.2
4.3
4.2

7.4
6.2
5.6

27.9
20.9
15.9

40.5
31.5
25.7

1.8
2.0
2.2

148.3
148.4
147.8

130.9
129.7
128.9

43.5
44.6
42.1

322.7
322.7
318.8

APR.
MAY
JUNE

7.9
7.8
8.0

1.5
1.5
1.6

6.6
6.6
6.6

5.9
4.2
5.2

4.9
5.2
6.7

11.9
16.8
19.9

22.6
26.2
31.8

2.5
2.6
2.6

148.4
148.6
147.9

128.2
127.5
126.7

40.4
40.3
39.3

316.9
316.5
314.0

JULY
AUG.
SEP.

8.4
7.7
8.2

1.7
1.5
1.8

6.5
6.5
6.5

3.7
3.9
5.5

5.9
5.7
10.6

15.9
18.5
23.2

25.5
28.0
39.2

2.5
2.5
2.5

147.6
147.5
147.6

125.7 e
124.6 e
123.7 e

38.9 e
38.7 e
38.5 e

312.2 e
310.8 e
309.8 e

OCT. p

8.2

1.7

6.6

4.2

5.8

17.7

27.7

2.5

147.4

122.6 e

38.2 e

308.3 e

8.8
7.9
8.1

1.7
2.0
1.8

6.5
6.5
6.5

5.0
9.6
3.9

5.8
9.3
21.0

8.8
32.1
35.7

19.6
51.1
60.5

2.5
2.5
2.5

9.2
7.9
8.1
7.6

2.0
1.6
1.5
1.7

6.5
6.5
6.5
6.6

4.8
3.4
5.0
3.4

10.5
5.0
4.3
5.4

31.1
15.4
13.2
15.7

46.3
23.8
22.5
24.5

2.2
2.5
2.5
2.5

8.2
8.0

1.8
2.0

6.6
6.6

4.9
3.6

5.0
5.2

16.6
15.1

26.5
23.9

2.5
2.7

Neek ending
1992-SEP. 14
21
28
OCT.

NOV.

5
12
19
26
2p
9p

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




H.6 (508)
Special Supplementary Table

Monthly Survey of Selected Deposits 1
September 30,1992 and October 28,1992
(not seasonally adjusted)

Insured Commercial Banks
Amount Outstanding ($mil.)

Average Rate Paid (%)
Sept. 30
245

Oct. 28
239

Change
(b.p.)
-6

1.49
0.84
3.77

3.00
N.A.
N.A.

2.93
N.A.
N.A.

-7
N.A.
N.A.

38,915
128,446
171,446
155,627
168,939

1.40
-1.05
-3.27
-1.11
0.68

2.95
3.16
3.37
3.86
4.62

2.89
3.11
3.29
3.78
4.60

-6
-5
-8
-9
-2

146,953

-0.57

N.A.

N.A.

N.A.

Liability Categories
NOW Accounts

Sept. 30
262,573

Oct. 28
268,645

Savings Deposits2
Personal
Nonpersonal

724,815
565,017
159,798

735,583
569,757
165,826

Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:
7 to 91 days
92 to 182 days
183 days to 1 year
1 to 2-V2 year
2-V2 years and over

38,379
129,805
177,249
157,376
167,798

All IRA/Keogh Plan deposits3

147,801

Change
(percent)
231

BEF-insured Saving;> Banks
Amount Outstanding ($mil.)

Average Rate Paid (%)

Sept. 30
10,353

Oct. 28
10,139

Change
(percent)
TLR

Savings Deposits
Persona]
Nonpersonal

81,965
78,792
3,173

80,994
77,767
3,227

-1.18
-1.30
1.71

3.39
N.A.
N.A.

3.29
N.A.
N.A.

-10
N.A.
N.A.

Interest-bearing time deposits with
balances of less than $100,000
with original maturies of:
7 to 91 days
92 to 182 days
183 days to 1 year
1 to 2-V2 year
2-V2 years and over

3,769
17,775
24,216
20,441
19,814

3,676
17,273
23,082
19,370
19,120

-2.47
-2.82
-4.68
-5.24
-3.50

3.30
3.46
3.60
3.94
4.91

3.23
3.41
3.56
3.90
4.84

-8
-6
-4
-4
-7

All IRA/Keogh Plan deposits3

22,763

22,217

-2.40

N.A.

N.A.

N.A.

Liability Categories
NOW Accounts
2

Sept. 30
2J1

Oct. 28

157

Change
(b- p.)
-13

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 460 commercial
banks and 80 savings banks. All rates are expressed as annual effective yields.
2. Includes personal and nonpersonal money market deposit accounts.
3. Total IRA and Keogh Plan deposits regardless of size, type of instrument in which held, or interest rate paid.
4. BIF-insured savings banks include both mutual and federal savings banks.