Full text of H.6 Money Stock Measures : November 23, 1990

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FEDERAL RESERVE statistical relefctstfes.uB,^ &
H.6 ( 5 0 8 )
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

NOVEMBER 23, 1990

Billions of dollars
Date

Ml>

M2 2

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
3936
3956
3965
3965
3984
4007
4013
4013.5
4018.1
4031.0
4044.3

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
3320

4048..5
4064..3
4069..0
4074..7
4068..4
4073..0
4076..9
4091..5
4092.4
4088.2

4882
4890,
4906.
4918.
4890.
4910.
4919.
4931,
4956,

9829.3
9887.1
9955.1
10010
10053
10108
10166
10230
10291.2 p

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..1
4696..6
4733..6
4764..9
4750..1
4777..1
4799..3
4819.8
4827.3
4841.8
4867.2
4898.9

9139
9179
9237
9297
9358
9413.9
9459.8
9515
9576
9646
9717
9774.3

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
3316.7

4057.
4052.
4067,
4081.
4052,
4066.
4075.
4091,
4088,
4087,

4901,
4885,
4904.
4921.
4878.
4901,
4908.
4925.
4951.

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




9819.1
9856.8
9912.3
9965
10007
10065
10121
10177
10241

H.6 ( 5 0 8 )
Table 2

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

Ml

M2

M3

Debt 1

3 Months from JULY 1990 to OCT. 1990

5.5

3.9

1.1

7.2

6 Months from APR. 1990 TO OCT. 1990

3.2

2.5

0.7

6.8:

12 Months from OCT. 1989 TO OCT. 1990

4.1

4.3

1.7

K9

AUG. 13, 1990 (13 weeks previous)

5.4

3.9

1.5

MAY

3.7

2.7

1.0

4.5

4.6

1.8

Thirteen weeks ending NOVEMBER 12, 1990
from thirteen weeks ending:

14, 1990 (26 weeks previous)

NOV. 13, 1989 (52 weeks previous)

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 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 (0CDs)> 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—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 la roe-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 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
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-averaqe form, derived by averaging adjacent month-end levels. These data have also
been adjusted to remove statistical discontinuities that may arise in the underlying flow of funds statistics. The
presentation of debt data in this release differs, therefore, from the quarterly flow of funds statistics contained in the
Federal Reserve releases Z.7 and Z.l. In those releases, published levels of credit market debt are measured on a 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 adjusted

Period ending

13-week
average

4-week
average

1990-AUG. 20
27

810.2
811.0

813.5
815.1

M3

M2

Ml
13-week
average

4-week
average

817.9
815.2

3287.3
3290.2

3297.2
3303.0

week
average

week
average

13-week
average

4-week
average

week
average

3308.7
3306.9

4076.7
4079.1

4085.1
4089.5

4090.8
4093.2

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
3316.9
3316.8

4081.9
4083.8
4085.4
4086.4

4094.0
4096.8
4097.5
4095.5

4103.9
4099.2
4093.8
4085.0

OCT.

1
8
15
22
29

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
3307.0
3309.5
3312.1
3314.6

3319.0
3320.4
3321.9
3322.1
3320.4

3322.1
3325.9
3322.7
3317.8
3315.3

4087.0
4087.9
4088.9
4090.0
4090.7

4090.6
4088.8
4087.4
4088.5
4088.7

4084.5
4091.9
4088.2
4089.4
4085.3

NOV.

5p
12p

819.9
820.2

819.9
820.1

822.3
819.6

3316.1
3317.1

3317.7
3315.7

3315.0
3314.8

4090.6
4090.1

4086.8
4085.3

4084.4
4082.0

Not seasonally adjusted
M2

Ml
4-week
average

Period ending

13-week
average

1990-AUG. 20
27

810.5
811.7

, 813.5
814.3

M3

13-week
average

4-week
average

week
average

816.5
800.3

3287.9
3291.5

3300.5
3304.9

week
average

13-week
average

4-week
average

3310.6
3293.1

4073.8
4076.9

4086.3
4091.1

4092.0
4082.1

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
3313.6

3314.3
3330.6
3317.1
3292.5

4079.1
4081.7
4083.9
4085.2

4093.1
4096.6
4097.9
4093.7

4100.5
4111.8
4097.1
4065.3

OCT.

1
8
15
22
29

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

3303.5
3305.3
3307.3
3309.3
3311.1

3310.5
3310.8
3313.7
3318.0
3317.2

3301.9
3331.7
3328.8
3309.6
3298.6

4085.3
4086.2
4087.5
4088.7
4089.3

4086.0
4083.1
4083.2
4087.7
4088.1

4069.8
4100.0
4097.8
4083.1
4071.3

NOV.

5p
12p

816.7
817.2

816.5
816.9

827.2
826.6

3312.6
3313.8

3315.3
3314.6

3324.0
3326.0

4089.6
4089.7

4087.2
4087.5

4096.4
4099.3

Note: S p e c i a l caution 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 highly v o l a t i l e 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
commercial
banks*

At
thrift
institutions5

In M3
only 7

General purpose
and broker/dealer
money market funds

Currency l

Travelers
checks 2

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,
325.
325.

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
2497.1

789.1
786.1
773.2

327.1
335.9
341.9

244.0

8.4

276.8

205.6

85.3

291.0

2499.9

768.2

344.7

241.3
242.5

2
3

278.
279.

204.7
204.6

86,
86.

291.
291.

2496.
2495.

776.8
768.2

341.
342.

Date

OCT.

p

Demand
deposits3

Total

In M 2 6

Week ending
1990-SEP. 17
24
OCT.

1
8
15
22
29

243.1
242.6
243.0
244.3
245.5

3
3
4
4
4

282.5
278.9
276.7
275.9
275.9

207.6
206.3
205.8
204.6
205.2

86.8
85.7
85.0
85.0
85.1

294.
292.
290.
289.
290.

2493.9
2504.1
2503.9
2499.6
2495.1

762.
766.
765.
771.
770.

342.
345.
345.
345.
344.

NOV.

5p
12p

244.8
244.1

5
5 e

276.7
275.7

206.7
206.0

85.7
85.4

292.
291.

2492.6
2495.1

769.
767.

343.1
343.8

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 NOW and ATS balances at commercial banks, U.S. branches and agencies of foreiqn banks, and Edge Act corporations.
5.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
6.
Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs and savings and small time
deposits. This sum is seasonally adjusted as a whole.
7.
Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated
amount of 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,



H.6 (508)
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Savings deposits1

Money market deposit accounts
At
At
thrift
commerciail
institutions
banks

Date

Total

At
At
commerciail
thrift
banks
institutions

Small-denomination time deposits2

Total

At
thrift
commercial
banks
institutions

Total

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

Total

1989-JUNE

331.0

130.0

460.9

182.3

221.1

403.4

501.8

612.2

1114.0

397.1

177.8

574.9

JULY
AUG.
SEP.

333.9
337.9
340.8

130.1
130.4
131.0

463.9
468.2
471.9

183.0
183.9
184.9

220.3
220,0
220.6

403.3
404.0
405.5

505.8
510.4
513.3

616.6
619.6
619.2

1122.4
1130.0
1132.6

398.7
397.8
397.2

176.0
172.7
168.4

574.7
570.5
565.6

OCT.
NOV.
DEC.

343.7
348.5
351.5

131.6
132.3
132.2

475.3
480.8
483.7

185.9
187.3
188.5

220.3
220.5
220.5

406.1
407.9
409.0

519.7
524.4
528.6

616.2
614.1
613.7

1135.9
1138.5
1142.3

398.8
401.5
401.5

163.8
159.5
156.8

562.7
561.0
558.3

1990-JAN.
FEB.
MAR.

352.4
356.0
359.1

132.5
133.4
135.8

485.0
489.4
494,9

189.8
191.8
193.4

220,4
221.8
221.2

410.2
413,6
414.6

531.4
534.7
537.2

611.6
607.9
609.3

1143.0
1142.6
1146.4

401.6
399.9
396.9

152.9
150.2
147.3

554.5
550.1
544.1

APR.
MAY
JUNE

362.3
365.3
368.2

136.6
134.7
133.0

498.8
500.0
501.2

193.8
193.5
195.0

222.0
221.5
220.8

415.8
415.0
415.8

541.4
550.7
559.3

607.0
599.7
589.7

1148.3
1150.4
1149,0

395.2
397.1
397.9

143.1
138.3
134.9

538.3
535.4
532.8

JULY
AUG.
SEP.

370.9
374.6
376.0

131.6
131.0
131.2

502.5
505.6
507.2

195.6
195.8
196.6

220.7
220.5
219.3

416.4
416.3
415.9

568.1
571.2
575.1

582.2
580.2
576.0

1150,2
1151.4
1151.1

399.6
396.2
391.6

130.8
127.7
124.9

530.4
523.9
516.5

OCT. p

376.3

130.1

506.5

197.9

216.8

414.7

585.3

566.8

1152.1

389.1

121.0

510.1

1990-SEP. 17
24

375.9
375.8

131,
131,

507.5
506.8

196.5
196.5

219.7
218.9

416.1
415.4

575.3
575.8

576,
575.

1152,
1151.

394.3
390.8

125,
123.

519.6
514.8

OCT.

1
8
15
22
29

375.5
376.3
376.8
376.3
376.2

130,
130.
130.
130.
130.

505.6
506.4
507.1
506.5
506.2

197.5
198.0
197.8
197.9
197.8

218,3
216.8
216.9
217.0
216.4

415.8
414.8
414.7
414.9
414,2

578.4
584.5
585.5
585.9
586.2

570.
567.
566.
566.
566.

1149.
1152.
1152.
1152.
1152.

386.
387.
389,
389.
389.

122.6
122.2
121.6
120.8
119.7

508.8
510.0
511.5
510.5
508.9

NOV.

5p
12p

375.4
377.1

130.
130.

505.5
507.5

198.0
197.7

216.3
216.2

414.3
413.9

585.6
586.2

565.
564.

1151.1
1150.9

389.
389.

119.
118.

508
507

Week ending

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 (508)
Table 4-continued

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

Non-M3 Components of L
Institutiononly money
market funds

Date

Savings
bonds

Short-term
Treasury
securities1

Bankers
acceptances2

Commercial
paper3

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
349.9 p

32.8
32.2
32.3 p

348.7
345.1
358.2 p

2397.8
2436.0
2458.4 p

7768.6
7794.1
7832.8 p

OCT. p

119.8

Week ending
1990-SEP. 17
24

116.1
117.4

OCT.

1
8
15
22
29

115.5
118.3
118.5
121.6
121.5

NOV.

5p
12p

120.2
119.8

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 (508)
Table 5

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

Currency

Date

1

Travelers
Demand
checks 2 deposits3

A*
commercial
banks 4

At
thrift
institutions5

Nontransact ions
components

Total

In M2

6

In M3
only7

Overnight
RPs 8

Overnight
Eurodollars9

General purpose
and broker/dealer
money market funds

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.
326,
330,

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.
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
2493.7

782.5
786.3
776.8

68.2
67.6
65.1

15.9
15.1
16.4

324.3
334.9
340.9

OCT. p

242.6

8.4

277.6

202.9

85.2

288.1

2499.9

770.8

66.3

17.8

342.9

240.6
239.9

8.8
8.7

280.
270,

205,
199.

87,
84,

293.1
283.8

2494.
2489.

780.0
772.8

64.2
65.2

16.
16.

341.0
341.8

Neek ending
1990-SEP. 17
24
OCT.

1
8
15
22
29

239.8
243.8
242.8
242.7
242.0

279.
281.
283.
274.
271.

200.
206.
204.
201.
199.

84.
87.
86.
84.
82.

284,
294,
290.
285,
281.8

2489.
2503.
2503.
2499.
2495.

767.9
768.2
768.9
773.5
772.7

61.9
68.4
68.7
65.4
64.3

18.
17.
16.
18.
19.

341,
342.
343.
343.
342.8

NOV.

5p
12p

244.4
246.0

280.
279.

206.
206.

87.
86.

293,
293.

2496.8
2499.3

772.5
773.4

63.7
62.0

18.
17.

342.
344.

1.
2.

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollai—denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are
included in demand deposits.
3.
Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government
and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float.
4.
Consists of 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.
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

At
At
commercial
thrift
banks
institutions

Date

Total

Small-denomination time deposits2

Savings deposits1

Money market deposit accounts

At
At
commerciail
thrift
institutions
banks

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
374.4

131.2
131.2
131.2

499.4
504.0
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
392.9

129.5
127.1
125.1

526.9
523.9
518.1

OCT. p

375.2

130.4

505.6

197.9

217.7

415.6

584.8

566.9

1151.6

390.3

122.2

512.4

1990-SEP. 17
24

375.5
372.3

131.7
130.6

507.
502,

196,
195.

219,
218.

415.4
413.7

575.3
575.9

575.0
573.3

1150.3
1149.2

394
392

125,
124,

519,
516.

OCT.

1
8
15
22
29

372.5
375.0
376.3
374.7
374.7

129.8
130.4
130..7
130..4
130..0

502.
505.
507.
505.
504.8

196.
198.
198.
197.
197.

218,
218,
218,
217.
216,

414.6
417.3
416.7
415.5
413.3

579.4
584 9
585.5
585.1
584.5

571.6
568.4
566.6
566.1
566.0

1151.0
1153.3
1152.1
1151.1
1150.5

388.9
390.1
390.8
390.5
390.1

124,
123,
122,
122,
121,

512.8
513.2
513..5
512..5
511..1

NOV.

5p
12p

376.5
379.3

130.6
131.1

507.2
510.4

197.
197.

216.8
216.8

414.3
414.6

584.6
584.8

565.8
565.1

1150.4
1149.9

389.5
390.9

120,
120,

510,
510,

Neek ending

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.
Large7denomination 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
Billions of dollars, not seasonally adjusted
Term RPs 1

Date

At
At
Institutionthrift
only money commercial
institutions
banks
market funds

Debt components 6

Non-M3 Components of L

Total

Term
Eurodollars2

Savings
bonds

Short-term
Treasury
securities3;

Bankers
acceptances*

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
51.4

43.5
43.0
43.1

96.9
98.3
94.5

64.7
66.6
66.5

122.2
122.8
123.5 p

328.7
335.1
350.7 p

33.0
32.3
32.7 p

348.2
343.9
355.7 p

2382.4
2418.2
2440.6 p

7738.8
7759.3
7800.9 p

OCT. p

117.0

49.7

41.6

91.3

66.1

112.9
113.4

52.
50.

42.
42.

95.9
93.2

66.8
65.3

Week ending
1990-SEP. 17
24
OCT.

1
8
15
22
29

113.6
114.6
115.5
118.9
119.1

47.3
47.6
48.9
50.7
51.4

43.
42.
42.
40.
40.

90.7
90,
90.
91.
91.

65.
65.
66.
66.
66.

NOV.

5p
12p

118.9
120.5

51.3
51.4

40.9
40.8

92.
92.

66.2
66.2

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.
Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal
Reserve Banks, money market mutual funds, and foreign entities.
Net of bankers acceptances held by accepting banks? Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market
mutual funds.
Total commercial paper less commercial paper held by money market mutual funds.
Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities.
p--indicates preliminary data.




H.6 ( 5 0 8 )
Table 6

MEMORANDUM ITEMS

10

Billions of dollars> not seasonally adjusted
Demand deposits
at banks due to

Foreign
Foreign
official
commercial
institutions
banks

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
institutions
banks
banks

At
money
market
funds

Total

1989-JUNE

10.0

1.7

3.8

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

3.7
3.7
3.7

3.4
3.2
5.5

6.4
5.4
7.8

19.6
12.7
19.4

29.4
21.2
32.6

1.4
1.3
1.3

104.1
105.3
106.0

131.2
131.4
132.2

24.7
24.8
26.4

260.0
261.5
264.6

OCT.
NOV.
DEC.

9.9
9.4
9.7

1.7
1.5
1.5

3.7
3.7
3.6

3.3
3.5
5.2

5.9
5.2
4.8

17.4
11.2
14.4

26.5
19.9
24.5

1.4
1.4
1.4

107.3
108.0
108.7

132.5
132.3
133.3

27.1
27.5
28.0

266.9
267.8
270.0

1990-JAN.
FEB.
MAR.

9.8
9.1
9.0

1.6
1.6
1.6

3.6
3.6
3.6

4.4
3.5
3.6

6.0
6.2
5.3

18.8
18.5
13.1

29.1
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

3.6
3.6
3.6

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

3.5
3.5
3.5

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

3.9

3.4

5.5

17.5

26.4

1.5

126.3

135.4 e

31.8 e

293.5 e

9.2
8.8

1.8
1.9

3.5
3.5

7.8
4.7

4.6
9.5

22.8
33.8

35.1
48.0

1.2
1.2

Neek ending
1990-SEP. 17
24
OCT.

1
8
15
22
29

9.6
9.2
9.4
8.8
8.3

2.2
1.6
1.5
1.6
1.5

3.5
3.9
3.9
3.9
3.9

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

NOV.

5p
12p

9.1
8.8

1.4
1.6

3.9
3.5

4.2
3.0

6.8
5.8

18.4
11.7

29.4
20.5

1.5
1.5

e--indicates estimated data.
p--indicates preliminary data.




H.6 (S08)
Special Supplementary lable

Monthly Survey of Selected Deposits
September 26,1990 and October 31,19901
(not seasonally adjusted)

Insured Commercial Banks
Amount Qmstandine f$mil)
Change
„,Sept£mter,26 QctobcrJ-i
(percent)....
202.166
196,622
2.82

Iiahiliiy^CategQries_._ _
NOW Accounts

Average Rate Paid (%)
Change
September 26
4.97

QctofoerJl
4.96

•fop.)
-1

Money market deposit accounts
Personal

256.807

260.206

1.32

6.20

6.19

-1

Nonpersonal

111.636

112.911

1.14

6.08

6.08

0

193.144

194.804

0.86

5.49

5.49

0

51.305

50.973

-0.65

7.30

7.24

-6

92 to 182 days

162.429

164.591

1.33

7.58

7.53

-5

183 days to 1 year

210.183

213.087

1.38

7.72

7.65

-7

1 to 2-1/2 years

142.068

144.582

1.77

7.83

7.78

-5

2-1/2 years and over

140.010

141.793

1.27

7.88

7.82

-6

125.318

127,267

1.56

N.A.

N.A.

N.A.

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

All IRA/Keogh Plan deposits 2

FDIC-insured Savings Banks3
Liability,C.atfigores
NOW Accounts

~

Arnwmt Outstanding (Smil)
Change
(percent)
^€£i£mb£L2fL J2i^bc.Ui
7,764
5.27
8.173

Average Rate Paid (%)
Change
Suy2l£ini2£L2£
5.49

.October 3.1_ __.
5.41

Cb.p,)
-8

Money market deposit accounts
Personal
Nonpersonal
Savings deposits

24.045

24.139

0.39

6.85

6.73

-12

1.628

1.632

0.25

6.44

6.40

-4

39.012

39.071

0.15

5.66

5.65

-1

8.01

7.87

-14

Interest-bearing time deposits
with balances of less than
$100,000 with original
maturities of:
5.310

5.477

3.15

92 to 182 days

7 to 91 days

26.289

26.221

-0.26

8.10

7.98

-12

183 days to 1 year

37.311

37.734

1.13

8.21

8.13

-8

1 to 2-1/2 years

25.030

25.331

1.20

8.28

8.20

-8

20.930

20.317

-2.93

8.40

8.39

-1

23.205

23.397

0.83

N.A.

N.A.

N.A.

2-1/2 years and over
All IRA/Keogh Plan deposits

2

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 banks and
80 savings banks. All rates are 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-insured savings banks include both mutual :md federal savings banks.