Full text of H.6 Money Stock Measures : November 6, 1997

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES6

Forneleaseat4:30p.m. EastemTme

Billions of dollars

Date

Novembers, 1997
M11

M22

M33

DEBT5

Seasonally adjusted
1995-Oct.
Nov.
Dec.

1135.7
1133.1
1129.0

3629.8
3639.3
3655.0

4565.0
4578.3
4592.5

5666.9
5674.2
5697.6

13666.1
13722.3
13768.1

1996-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1122.2
1119.8
1126.2
1123.6
1117.1
1115.6
1108.9
1099.9
1093.3
1080.3
1080.1
1081.1

3669.9
3685.0
3714.0
3724.5
3725.4
3741.6
3749.1
3759.7
3769.7
3779.6
3798.3
3819.3

4620.1
4652.9
4689.4
4706.2
4728.7
4751.1
4769.1
4787.5
4816.5
4849.6
4876.1
4918.0

5720.8
5739.5
5789.7
5825.9
5846.3
5889.3
5913.9
5942.0
5981.5
6005.2
6038.5
6069.3

13816.7
13888.7
13964.2
14027.5
14080.3
14139.0
14211.0
14264.2
14311.7
14372.9
14435.7
14485.7

1997-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.

1079.7
1080.7
1075.4
1065.3
1062.8
1063.1
1062.1
1069.6
1060.8

3834.7
3850.0
3865.5
3883.3
3880.9
3894.4
3905.3
3940.5
3960.0

4940.1
4977.3
5008.7
5047.8
5054.2
5073.7
5117.4
5168.5
5206.4

6083.9
6131.5
6175.9
6231.1
6249.2
6271.5
6305.7
6379.7

14526.2
14584.0
14645.7
14715.5
14759.6
14785.8
14838.1
14895.3

Not seasonally adjusted
1995-Oct.
Nov.
Dec.

1132.9
1138.7
1152.8

3621.5
3643.2
3675.3

4561.5
4587.1
4612.0

5654.0
5685.4
5729.5

13634.6
13707.4
13768.5

19 9 6 - J a n .
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1130.1
1105.7
1117.8
1131.3
1105.3
1114.2
1109.8
1096.5
1090.2
1076.9
1085.3
1103.1

3673.3
3668.6
3715.7
3741.6
3709.1
3739.2
3753.1
3761.0
3762.5
3769.4
3801.2
3837.7

4626.5
4641.0
4691.9
4715.6
4712.6
4748.4
4767.3
4788.0
4805.4
4845.4
4884.2
4935.0

5734.9
5731.4
5802.6
5838.9
5823.9
5875.7
5905.2
5941.3
5964.1
5991.6
6048.9
6098.1

13798.6
13852.1
13936.8
13996.0
14041.3
14103.4
14164.3
14222.6
14280.6
14338.9
14418.2
14485.1

1997-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.

1085.9
1066.5
1067.4
1071.8
1051.8
1062.4
1063.7
1067.5
1057.7

3836.3
3834.0
3870.0
3900.1
3863.6
3892.1
3910.3
3944.0
3952.4

4945.6
4968.2
5015.2
5055.2
5036.4
5070.1
5115.3
5170.5
5193.6

6096.8
6126.5
6192.2
6242.7
6226.0
6256.3
6295.8
6379.8

14507.4
14546.5
14619.4
14684.4
14719.0
14748.3
14788.7
14851.4

Footnotes appear on the following page
p

preliminary




H.6 (508)
Table 2

MONEY STOCK AND DEBT MEASURES
M1

M2

M3

DEBT1

3 M o n t h s f r o m J u n e 1997 TO S e p .

1997

-0.9

6.7

10.5

3.7

6 Months f r o m Mar.

1997 TO S e p .

1997

-2.7

4.9

7.9

4.3

12 M o n t h s f r o m S e p .

1996 TO S e p .

1997

-3.0

5.0

8.1

4.4

T h i r t e e n w e e k s e n d i n g O c t o b e r 27 , 1997
from t h i r t e e n weeks e n d i n g ;
J u l y 2 8 , 1997 ( 1 3 w e e k s p r e v i o u s )

0.0

6.5

9.5

1.

Apr.

28,

1997

(26 w e e k s p r e v i o u s )

-2.1

4.7

7.6

Oct.

28,

1996

(52 w e e k s p r e v i o u s )

-2.6

5.0

8.0

vi TO Win rales iui ueui ai e uaocu vi i pci ivvjo

n m »y w,,

and August 1996 to August 1997, respectively.

F o o t n o t e s to T a b l e 1:

4

S n t s H f M31pl'ul?h d KSiank public holdings of U.S. savings bonds, short-term Treasury securities, commercial paper and bankers acceptances, net of money market

credit market debt are m e a s u r e d on a quarter-end b a s i s and contain discontinuities.

S & S S S ^ S S i S S S S S S S r "
(800) S T A T - U S A ( 8 0 0 - 7 8 2 - 8 8 7 2 ) .




Page 3
H.6 (508)
Table 3

MONEY STOCK MEASURES

Billions of dollars
Seasonally adjusted
M1
Period ending
1997-Aug.

Sep.

Oct.

M3

M2

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

4
11
18
25

1063.2
1063.4
1063.7
1064.2

1062.5
1063.7
1065.4
1067.7

1070.9
1063.2
1065.7
1070.8

3896.0
3900 . 0
3904.6
3908.8

3908.8
3914.7
3923.0
3931.4

3918.3
3924.4
3938.7
3944.3

5086.4
5093.9
5102.4
5111.8

5122.5
5130.6
5142.0
5155.7

5133.0
5145.0
5164.2
5180.6

8
15
22
29

1

1064.9
1065.0
1064.6
1064.3
1063.9

1069.9
1069.6
1067.1
1063.2
1058.7

1079.8
1062.2
1055.4
1055.3
1062.0

3914.4
3919.1
3924.2
3929.5
3934.8

3942.1
3948.4
3952.6
3957.7
3959.4

3961.0
3949.4
3955.8
3964.4
3967.8

5122.2
5132.5
5143.6
5153.5
5163.2

5172.5
5184.9
5194.8
5201.6
5206.1

5200.2
5194.5
5203.7
5208.0
5218.0

6
13
2 Op
27p

1064.0
1063.5
1063.3
1062.7

1060.1
1059.1
1059.4
1057.6

1067.5
1051.4
1056.5
1054.8

3939.8
3944.9
3950.8
3956.0

3966.1
3969.1
3973.4
3975.8

3976.2
3968.1
3981.5
3977.5

5171.4
5181.0
5190.5
5200.1

5213.4
5221.8
5230.4
5238.5

5223.8
5237.5
5242.1
5250.5

Not seasonally adjusted
1997-Aug.

4
11
18
25

1060.2
1061.3
1062.7
1064.0

1061.8
1062.3
1064.9
1066.7

1077.2
1064.3
1066.7
1058.5

3892.3
3898.5
3905.2
3911.2

3909.8
3916.3
3928.1
3939.0

3931.6
3946.3
3948.4
3929.5

5079.7
5089.7
5100.2
5111.1

5117.7
5128.5
5144.3
5161.1

5140.4
5165.6
5171.1
5167.4

Sep.

1

8
15
22
29

1064.5
1065.0
1064.4
1064.1
1062.7

1066.2
1067.5
1065.1
1061.8
1055.6

1075.2
1069.5
1057.1
1045.4
1050.3

3916.6
3921.8
3926.8
3931.8
3935.1

3943.2
3951.5
3957.2
3958.7
3951.7

3948.6
3979.6
3970.9
3935.7
3920.5

5120.9
5130.9
5141.4
5151.2
5158.9

5172.8
5185.7
5196.9
5199.0
5192.8

5187.2
5217.0
5216.1
5175.8
5162.4

6
13
20p
27p

1061.8
1060.9
1060.8
1060.1

1055.6
1053.9
1056.3
1054.3

1069.4
1050.4
1055.2
1042.3

3938.1
3942.1
3947.5
3951.9

3950.9
3951.3
3960.3
3966.0

3976.3
3972.8
3971.6
3943.4

5165.9
5175.6
5186.0
5195.8

5194.3
5202.5
5219.2
5235.6

5222.8
5248.8
5242.6
5228.2

Oct.

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

preliminary data.




Page 4
H.6 (508)
Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT

Billions of dollars, seasonally adjusted
Currency1

Date

e

Nontransactions components

Other checkable deposits
At commercial
banks 4

At thrift
institutions5
107.9
107.7

Total

In M26

In M3 only7

323.5
316.4

2608.3
2626.0

1003.3
1009.4

377.7
379.9

8.7
8.7

407.2
410.7

215.6
208.7

July
Aug.
Sep.

382.8
385.2
387.6

8.6
8.4
8.5

408.8
405.9
405.1

202.9
195.2

188.0

105.8
105.2
104.3

308.7
300.4
292.2

2640.2
2(659.7
2676.4

1020.0
1027.8
1046.8

Oct.
Nov.
Dec.

390.2
392.5
395.2

8.6
8.6
8.6

398.4
402.2
402.6

178.9
172.7
171.5

104.3
104.2
103.3

283.2
276.8
274.8

2699.3
2718.2
2738.2

1070.0
1077.8
1098.7

1997-Jan.
Feb.
Mar.

397.0
400.5
402.4

8.6
8.6

401.6
404.3
403.1

170.9
165.4
160.3

101.6
101.9
101.3

272.5
267.3
261.5

2755.0
2769.3
2790.0

1105.4
1127.3
1143.2

Apr.
May
June

403.7
406.1
407.7

8.3

395.6
395.7
397.2

159.7
155.6
153.7

97.9
97.2
96.4

257.7
252.8
250.1

2818.1
2818.1
2831.3

1164.5
1173.3
1179.4

July
Aug.
Sep.

410.2
412.1
415.4

8.2

396.4
402.0
390.6

150.5
150.0
150.2

96.8
97.2
96.5

247.2
247.2
246.7

2843.2
2870.9
2899.3

1212.1
1228.0

Oct.

4.
5.
6.
7.

Demand deposits 3

1996-May
June

Week e n d i n g
1997-Sep.

1.
2.
3.

Travelers checks 2

8.5

8.2
8.0
8.3

8.1

1246.3

8
15
22
29

414.4
413.9
414.9
416.1
416.5

8.0
8.1
8.1
8.1
8.1

406.3
391.5
387.3
387.0
391.1

153.5
150.8
148.7
148.5
150.9

97.7
98.0
96.4
95.6
95.3

251.1
248.7
245.1
244.1
246.3

2881.1
2887.2
2900.5
2909.2
2905.9

1239.3
1245.1
1247.8
1243.5
1250.2

6
13
2 Op
27p

416.8
417.5
418.2
418.8

8.1
8.1 e
8.1 e
8.1 e

393.2
382.2
387.1
384.8

150.8
146.8
146.9
148.2

98.5
96.8
96.1
94.8

249.3
243.6
243.1
243.0

2908.7
2916.7
2925.0
2922.8

1247.6
1269.4
1260.6
1272.9

1

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.
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.
Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
Sum of savings deposits (including money market deposit accounts), small time deposits, and retail money fund balances, each seasonally adjusted separately.
Sum of large time deposits, institutional money fund balances, RP liabilities (overnight and term) issued by depository institutions, and Eurodollars (overnight and term) of
U.S. addressees, each seasonally adjusted separately.
estimated




p

preliminary

Pages

H.6 (508)
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Savings deposits 1
Date

At
commercial
banks
829.3
837.4

At
thrift
institutions
366.3
366.7

July
Aug.
Sep.

844.2
857.1
865.7

Oct.
Nov.
Dec.

Retail
money
funds

Institutional
money
funds

928.4
928.8

484.2
493.2

1195.6
1204.1

At .
commercial
banks
577.0
578.0

At
thrift
institutions
351.5
350.8

366.8
365.6
365.8

1211.0
1222.7
1231.5

580.3
582.9
585.4

350.2
351.2
352.0

930.5
934.1
937.3

879.3
892.7
903.9

367.1
366.3
367.1

1246.3
1259.0
1271.0

587.4
589.9
592.0

353.6
354.0
353.7

1997-Jan.
Feb.
Mar.

914.0
921.1
934.2

368.5
369.4
370.1

1282.5
1290.5
1304.3

592.4
593.3
595.6

Apr.
May
June

947.9
945.4
949.9

373.1
375.5
375.5

1321.1
1320.9
1325.4

July
Aug.
Sep.

955.2
966.7
982.2

374.6
374.8
374.5

1
8
15
22
29

964.9
976.2
984.7
989.0
983.5

6
13
2 Op
27p

992.4
996.7
999.4
994.8

1996-May
June

Week e n d i n a
1997-Sep.

Oct.

2.

Small-denomination time deposits 2

3.
4.

Small-denomination time
and thrifts are subtracted
Large-denomination time
Large-denomination time
official institutions.

p

preliminary




Large-denomination time deposits 3

263.6
269.7

At
commercial
banks 4
367.1
373.3

At
thrift
institutions
75.4
75.6

498.7
503.0
507.5

274.0
278.8
285.2

379.4
383.1
389.9

76.5
77.2
78.4

455.9
460.4
468.3

941.0
943.9
945.7

512.0
515.2
521.5

288.1
292.0
299.3

402.1
404.0
412.3

78.8
79.4
79.2

480.9
483.4
491.5

354.3
355.0
351.8

946.8
948.2
947.4

525.7
530.6
538.3

296.3
305.4
311.8

412.2
418.1
427.1

81.1
81.9
82.0

493.3
500.1
509.1

598.2
601.1
606.7

350.7
352.2
351.2

948.9
953.3
957.9

548.1
543.9
548.0

311.6
311.6
318.9

439.6
441.1
449.6

82.6
82.4
83.4

522.1
523.6
533.0

1329.9
1341.4
1356.7

613.2
615.0
618.3

347.7
347.5
345.9

960.9
962.5
964.3

552.5
567.0
578.3

324.1
329.2
338.9

466.3
472.0
483.6

84.8
85.2
85.6

551.1
557.2
569.2

374.6
370.6
372.3
377.1
378.7

1339.5
1346.8
1357.0
1366.0
1362.2

616.3
617.0
618.4
619.2
619.0

346.9
346.5
345.9
345.6
345.5

963.3
963.5
964.3
964.8
964.6

578.3
576.8
579.2
578.3
579.1

332.4
338.3
337.9
336.3
343.8

476.3
479.6
486.4
486.9
482.7

84.9
85.6
86.0
85.8
85.0

561.3
565.2
572.4
572.7
567.8

373.6
373.9
376.0
376.4

1366.0
1370.7
1375.5
1371.2

619.4
619.9
620.8
622.3

345.8
346.1
345.7
345.3

965.3
966.0
966.5
967.7

577.4
580.0
583.0
583.9

340.8
347.7
343.9
346.2

485.7
489.8
486.5
491.2

85.3
85.6
85.5
85.0

571.0
575.4
572.0
576.2

Total

Total

Total
442.5
448.9

deposits—including retail RPs—are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial banks
from small time deposits.
deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. government, and foreign banks and

Page 6
H.6 (508)
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Non-M3 Components of L
RPs

Date

1

Eurodollars

Short-term
gs bonds

JESW

Bankers
acceptances 4

Commercial paper 5

Federal debt

Non-Federal debt

452.6
470.5

10.7
n . i

468.0
470.1

3701.1
3707.7

10379.2
10431.4

IMf-May
June

262.7
195.3

94.5
95.6

186.1
186.4

July
Aug.
Sep.

194.2
192.4
194.4

95.8
96.3
98.9

186.7
186.9
187.1

473.6
478.1
483.9

11.5
11.7
12.0

473.0
477.7
482.0

3726.4
3740.5
3743.8

10484.6
10523.7
10567.9

Oct.
Nov.
Dec.

196.0
195.3
194.1

105.1
107.1
113.9

187.1
187.0
187.0

476.8
480.0
456.5

12.1
12.2
12.2

479.6
483.2
495.5

3756.0
3770.1
3780.0

10616.9
10665.6
10705.7

1997-Jan.
Feb.
Mar.

202.2
200.6

198.3

117.5
119.7
121.7

186.7
186.4
186.3

436.1
437.6
441.5

11.9
12.7
13.5

509.1
517.5
525.9

3778.0
3782.6
3796.5

10748.2
10801.4
10849.2

Apr.
May
June

204.1
204.6
198.8

126.6

186.2
186.2

12.8
13.1

186.3

446.6
451.7
442.9

12.6

537.8
543.9
555.9

3803.2
3789.7
3776.5

10912.3
10969.9
11009.3

July
Aug.
Sep.

208.0
211.0
208.2

128.8

186.4
186.5 p

422.2
446.3 p

12.9
13.3

566.8
565.0 p

3779.4
3784.5 p

11058.7
11110.8 p

1
8
15
22
29

211.1
210.5
207.8
205.5
208.5

134.5
131.0
129.7
129.0
130.1

6
13
20p
27p

208.8
218.7
218.6
224.6

127.0
127.6
126.1
126.0

*Ming

1997-Sep.

Oct.

1.
2.

Debt components 6

2

133.5

128.8
130.6
130.0

4.
5.
6.

Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United Kingdom and Canada,
excluding those held by depository institutions and by money 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

preliminary

3.




Page 7
H.6 (508)
Table 5

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Currency1

Date

e

Nontransactions components

Other checkable deposits
At commercial
banks 4

At thrift
institutions5

Total

In M26

In M3 only7

398.7
409.3

213.1
207.6

107.3
108.0

320.4
315.6

2603.8
2625.0

1003.5
1009.1

9.1
9.0

410.4
404.3
404.0

200.8
192.8
186.7

105.8
104.5
103.9

306.6
297.3
290.6

2643.4
2664.5
2672.3

1014.1
1027.0
1042.8

388.9
392.9
397.9

8.6

398.7
407.7
418.9

176.9
171.9
173.5

103.8
104.4
104.5

280.7
276.3
278.0

2692.5
2715.9
2734.6

1076.1
1083.0
1097.3

1997-Jan.
Feb.
Mar.

395.6
397.7
401.0

8.2
8.3

174.8
165.6
160.9

101.8
100.2

8.2

405.5
394.7
396.2

101.1

276.6
265.8
261.9

2750.3
2767.6
2802.6

1109,3
1134.2
1145.2

Apr.
May
June

403.4
406.1
408.4

8.2
8.2
8.2

396.6
387.3
396.2

163.4
153.7
152.8

100.3
96.5
96.7

263.6
250.2
249.5

2828.4
2811.8
2829.7

1155.0
1172.7
1178.1

July
Aug.
Sep.

411.3
413.4
414.3

8.7

398.2
400.6
389.6

148.8
148.2
149.3

96.7
96.5
96.2

245.5
244.8
245.5

2846.6
2876.5
2894.7

1204.9
1226.5
1241.1

377.5
380.4

8.6

July
Aug.
Sep.

383.7
385.8
386.8

Oct.
Nov.
Dec.

Oct.

4.
5.
6.
7.

Demand
deposits 3

1996-May
June

Week e n d i n g
1997-Sep.

1.
2.
3.

Travelers
checks 2

8.9

8.8
8.4
8.3

8.8
8.4

1
8
15
22
29

413.9
415.4
414.2
414.0
413.3

8.5
8.5
8.4
8.4
8.4

402.6
398.7
391.1
379.6
383.4

152.8
147.6
146.9
149.0
151.4

97.3
99.2
96.5
94.5
93.7

250.2
246.9
243.4
243.5
245.2

2873.4
2910.1
2913.8
2890.2
2870.2

1238.6
1237.4
1245.2
1240.1
1242.0

6
13
2 Op
27p

416.8
418.4
417.4
416.7

8.3
8.3 e
8.2 e
8.1 e

396.1
383.7
388.5
377.6

149.0
143.8
146.0
147.0

99.2
96.3
95.1
93.0

248.2
240.1
241.1
239.9

2906.9
2922.4
2916.4
2901.2

1246.5
1276.0
1270.9
1284.8

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits.
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.
Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts.
Sum of savings deposits (including money market deposit accounts), small time deposits, and retail money fund balances.
.
Sum of large time deposits, institutional money fund balances, RP liabilities (overnight and term) issued by depository institutions, and Eurodollars (overnight and term) of
U.S. addressees.
estimated




p

preliminary

Page 8

H.6 (508)
Table 5-continued

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

At
thrift
institutions
352.1
351.1

Total

1193.7
1207.6

At
commercial
banks
578.0
578.4

930.2
929.5

479.9
487.9

368.1
366.8
366.2

1215.1
1226.8
1232.8

581.0
582.9
584.7

350.6
351.2
351.5

931.6
934.1
936.2

878.9
894.5
902.9

366.9
367.1
366.7

1245.7
1261.5
1269.6

586.7
588.5
589.8

353.2
353.1
352.4

1997-Jan.
Feb.
Mar.

908.9
915.4
935.1

366.5
367.1
370.5

1275.4
1282.4
1305.6

591.7
593.7
597.1

Apr.
May
June

949.4
943.7
952.7

373.7
374.8
376.6

1323.2
1318.5
1329.2

July
Aug.
Sep.

958.6
970.0
983.2

375.9
376.1
374.9

961.4
995.1
997.0
980.5
965.0
997.2
1004.2
997.9
984.6

At
commercial
banks
828.0
839.8

At
thrift
institutions
365.7
367.7

July
Aug.
Sep.

847.0
860.0
866.6

Oct.
Nov.
Dec.

1996-May
June

Week e n d i n g
1997-Sep.

1
8
15
22
29

Oct.

1.

2.
3.
4.
p

Small-denomination time deposits 2

Retail
money
funds

Date

6
13
2 Op
27p

Institutional
money
funds

Large-denomination time deposits3

260.1
264 . 6

At
commercial
banks 4
369.2
373.7

At
thrift
institutions
75.8
75.7

445.0
449.4

496.7
503.6
503.3

271.2
278.1
280.4

377.3
382.4
389.5

76.1
77.1
78.3

453.4
459.5
467.8

939.9
941.6
942.1

506.8
512.8
522.9

284.7
292.6
300.5

406.7
408.7
413.7

79.7
80.3
79.5

486.4
489.0
493.2

353.9
355.2
352.7

945.6
948.9
949.8

529.3
536.3
547.2

304.8
315.5
316.4

408.7
416.5
426.3

80.4
81.6
81.9

489.1
498.1
508.2

599.9
602.3
607.1

351.8
352.9
351.5

951.7
955.2
958.6

553.5
538.1
541.9

309.2
307.0
313.1

435.6
443.4
449.8

81.8
82.9
83.4

517.4
526.3
533.2

1334.5
1346.0
1358.1

613.8
615.0
617.5

348.1
347.5
345.5

961.9
962.4
962.9

550.2
568.0
573.7

321.0
328.3
333.1

463,
470,
482.8

84.4
84.9
85.4

548.1
555.7
568.2

373.3
377.8
376.9
373.8
371.5

1334.7
1372.8
1374.0
1354.3
1336.6

615.8
616.6
617.5
617.9
618.1

346.7
346.3
345.4
344.9
345.0

962.5
962.8
962.9
962.8
963.1

576.2
574.4
577.0
573.2
570.5

330.2
332.7
335.3
331.6
333.3

475.6
478.7
484.9
485.9
482.1

84.8
85.5
85.8
85.7
84.9

560.4
564.1
570.7
571.5
567.1

375.4
376.8
375.5
372.5

1372.6
1381.0
1373.4
1357.1

619.5
619.7
619.7
620.8

345.8
346.0
345.1
344.5

965.3
965.8
964.9
965.3

568.9
575.7
578.1
578.7

333.9
343.3
342.3
342.0

489.0
495.9
492.5
498.3

85.9
86.6
86.6
86.2

574.9
582.6
579.0
584.5

Total

S a v i n g s d e p o s i t s include m o n e y market d e p o s i t a c c o u n t s .

Small-denomination time deposits—including retail RPs—are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial banks and thrifts are subtracted from small time deposits.
Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. government, and foreign
banks and official institutions.
preliminary




Total

Page 9
H.6 (508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT

Billions of dollars, not seasonally adjusted
RPs 1
Date

Eurodollars

1996-May
June

153.9
149.3

50.8
51.0

204.8
200.3

93.6
94.9

186.3
186.4

™T?lort-term
secuntie:
443.0
462.7

July
Aug.
Sep.

144.7
144.5
147.4

50.4
49,4
49.1

195.1
193.9
196.4

94.5
95.5
98.2

186.6
186.7
186.7

472.9
482.0
476.9

Oct.
Nov.
Dec.

150.7
146.7
143.0

48.3
47.5
45.8

199.0
194.2
188.8

106.0
107.3
114.7

186.8
186.9
187.0

1997-Jan.
Feb.
Mar.

150.6
152.6
151.1

45.7
46.9
46.8

196.3
199.5
197.9

119.2
121.1
122.9

186.8

Apr.
May
June

155.8
160.7
156.9

47.0
46.5
47.0

202.8
207.2
203.9

July
Aug.
Sep.

161.3
165.3
163.5

47.4
47.8
47.2

1
8
15
22
29

166.3
164.1
163.6
161.9
164.1

6
13
20p
27p

163.3
174.3
174.3
181.4

1997-Sep.

Oct.

At commercial
banks

At thrift
institutions

Debt components 6

Non-M3 Components of L
2

Savings bonds

Total

Bankers
acceptances 4
10.5

Commercial
paper6

Federal debt

Non-Federal
debt

471.4
467.0

3692.1
3698.1

10349.2
10405.3

10.7

467.8
473.6
483.1

3708.3
3730.9
3736.1

10455.9
10491.6
10544.5

461.0
480.1
469.7

12.2
12.4

12.6

486.1
485.2
493.8

3740.9
3771.4
3787.9

10598.1
10646.9
10697.1

186.6
186.6

441.6
441.3
453.6

12.5
12.9
13.4

510.3
517.4
523.4

3773.4
3783.0
3815.4

10734.0
10763.6
10**4.0

125.7
132.3
127.8

186.5
186.4
186.3

448.2
441.6
435.1

13.0
12.9
12.6

539.9
548.7
552.0

3810.3
3781.3
3766.2

10874.1
10937.7
10982.1

208.7
213.0
210.7

127.2
129.5
129.1

186.3
186.3 p

421.7
450.1 p

12.1
12.6 p

560.4
560.3

3759.9
3774.4 p

11028.6
11&1FT.0 p

47.3
47.6
47.1
47.1
46.8

213.6
211.7
210.6
209.0
210.9

134.5
128.9
128.6
127.9
130.8

47.4
47.5
47.9
48.2

210.7
221.9
222.2
229.6

127.1
128.2
127.4
128.7

11.2
11.1
12.0

4.
5.
6.

Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United Kingdom and Canada,
excluding those held by depository institutions and by money 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

preliminary

1.
2.
3.




Page 10
H.6 (508)
Table 6

MEMORANDUM ITEMS

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

U.S. government deposits
Note
balances at
depository
institutions

IRA and Keogh Accounts
Time and
savings
deposits at
C
°banks

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

2.8
4.8

5.7
6.1

10.1
14.5

18.7
25.4

4.5
4.4

151.3
151.6

109.0
108.8

78.3
76.9

338.6
337.3

13.0
13.4
13.8

2.9
2.7
4.6

5.3
5.1
6.2

17.4
12.2
20.5

25.7
20.1
31.3

4.1
3.8
3.4

151.9
151.8
151.4

108.7
108.6
108.6

77.5
79.8
82.3

338.1
340.2
342.3

1.4
1.4
1.4

14.9
16.4
17.9

3.0
3.3
4.3

5.0
5.0
5.7

11.0
11.6
11.9

19.0
19.9
21.9

3.1
2.8
2.5

151.3
151.4
151.3

108.2
107.7
107.1

85.3
88.7
92.2

344.8
347.7
350.6

9.2
9.3
9.3

1.7
1.5
1.4

18.6
18.3
18.0

4.1
2.8
3.1

6.2
5.1
5.9

20.2
14.7
17.8

30.5
22.6
26.7

2.4
2.4
2.4

151.3
151.3
151.4

106.6
106.3
105.9

93.9 e
95.6 e
97.3 e

351.7
353.2
354.6

Apr.
May
June

9.5
9.9
10.3

1.3
1.4
1.5

17.9
17.8
17.8

5.3
2.5
3.9

11.7
12.7
8.1

21.7
29.6
22.5

38.7
44.8
34.5

2.6
2.9
3.2

151.6
151.8
152.0

105.5
105.2
104.9

99.0
100.7
102.4

356.1
357.7
359.3

July
Aug.
Sep.

10.4
10.4
10.4

1.5
1.5
1.5

17.8
17.8
17.8

1.8
1.8
3.2

5.0
4.9
6.2

18.2
12.4
20.1

24.9
19.1
29.4

3.3
3.3
3.3

152.0 e
152.0 e
152.0 e

104.6 e
104.3 e
104.0 e

104.1
105.8
107.5

360.7 e
362*1 e
363.5 e

1
8
15
22
29

10.4
10.4
10.4
10.4
10.4

1.5
1.5
1.5
1.5
1.5

17.8
17.8
17.8
17.8
17.8

1.6
2.1
4.7
4.6
1.7

4.9
4.7
5.3
7.9
7.1

9.5
8.3
8.6
27.8
37.1

16.0
15.0
18.7
40.3
45.9

3.3
3.3
3.3
3.3
3.3

6
13
20p
27p

10.4
10.4
10.4
10.4

1.5
1.5
1.5
1.5

17.8
17.8
17.8
17.8

1.8
1.5
2.2
1.4

5.6
5.2
5.2
6.1

19.5
6.9
13.9
21.5

26.8
13.6
21.3
29.1

3.3
3.3
3.3
3.3

Foreign
commercial
banks

Foreign
official
institutions

1996-May
June

00
w

Date

8.9

1.5
1.5

July
Aug.
Sep.

9.1
7.9
8.5

1.6
1.5
1.4

Oct.
Nov.
Dec.

8.6
8.8
9.1

1997-Jan.
Feb.
Mar.

»ek e n d i n o
1997-Sep.

Oct.

e
p

Time and
savings
deposits
due to
foreign
banks and
official
institutions
13.5
13.0

estimated
preliminary




Total
cash
balance

At
commercial
banks

At
thrift
institutions

At
money
market
funds

Total