Full text of H.6 Money Stock Measures : October 12, 1995

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES 6

For release at 4:30 p.m. Eastern Time
OCTOBER 12,1995

Billions of dollars
Date

M11

M22

DEBT5

M33
Seasonally

1993-OCT.
NOV.
DEC.

1113.5
1122.4
1128.6

3564.4
3576.7
3583.6

4222. 6
4234. 2
4 2 4 2 ..3

5116. 0
5128. 5
5145. 8

12220. 2
1 2 2 7 6 .,1
1 2 3 4 1 .,5

1994-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1132.5
1137.0
1141.1
1142.8
1143.5
1147.0
1152.2
1150.8
1151.0
1148.2
1147.6
1148.0

3589.1
3586.2
3597.5
3605.4
3608.4
3605.2
3616.7
3614.9
3614.0
3610.1
3611.8
3616.8

4 2 4 5 ,.7
4 2 3 1 .,8
4 2 4 0 .. 4
4 2 5 0 ..5
4 2 5 1 ..2
4 2 5 6 .2
4 2 7 4 .2
4273 .8
4279 .9
4286 .4
4 2 9 1 .9
4304 .0

5157. 5
5160. 5
5171. 7
5180. 5
5 1 9 5 . ,8
5 1 9 2 ..0
5217..1
5 2 2 6 .. 6
5 2 2 4 ..7
5 2 3 7 ..5
5 2 4 8 .,7
5 2 6 9 ,,9

1 2 3 8 4 ,,3
1 2 4 3 4 , .7
1 2 4 9 9 ,,9
1 2 5 5 7 ,,6
1 2 6 1 3 ,. 4
12652 . 6
12679 .5
1 2 7 4 4 ,.8
1 2 8 0 4 ,.0
12850 .8
12917 .8
1 2 9 5 9 .6

1995-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP. p

1149.0
1147.3
1147.9
1149.7
1142.9
1143.8
1145.0
1143.6
1139.9

3628.8
3624.6
3632.3
3645.5
3662.1
3698.2
3717.4
3743.1
3757.4

4327
4336
4360
4382
4412
4459
4490
4521
4537

5 2 9 5 ..3
5 3 3 5 ,.3
5 3 7 8 ..5
5 4 0 5 ..8
5 4 3 4 .,4
5 4 7 2 .. 1
5 4 8 6 ..3
5 5 2 6 ,.8 p

1 3 0 1 4 ,.7
1 3 0 9 4 ,.7
1 3 1 5 5 ,.9
1 3 2 2 8 .. 1
1 3 3 1 9 ..2
1 3 3 7 4 .. 8
1 3 4 1 1 .. 4
1 3 4 5 0 ..9 p

.0
.7
.0
.9
.3
.4
.8
.1
.7

Not seasonally adjusted
1993-OCT.
NOV.
DEC.

1112.1
1129.5
1153.7

3561.3
3584.2
3606.1

4217. 1
4246. 5
4266. 1

5107.3
5147.9
5180.3

12181.7
12249.0
12333.7

1994-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1142.3
1124.2
1131.4
1152.7
1132.5
1142.3
1150.9
1144.0
1146.2
1147.4
1155.4
1173.7

3595.6
3573.3
3596.2
3622.6
3595.6
3600.4
3615.5
3607.4
3603.5
3607.1
3620.1
3640.4

4254. 7
4221. 6
4238. 0
4264. 0
4240. 2
4249. 8
4 2 6 7 .,9
4 2 6 7 ,,3
4 2 6 7 ,,5
4 2 8 1 ,,5
4 3 0 6 ,.3
4 3 3 0 ,. 1

5179.1
5153.3
5172.2
5192.4
5175.5
5180.4
5204.6
5215.2
5205.3
5228.6
5270.7
5307.5

12376.8
12408.0
12460.7
12499.3
12540.8
12597.3
12631.2
12692.6
12760.2
12812.0
12889.9
12951.6

1995-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP. p

1158.6
1134.3
1138.1
1158.7
1132.0
1139.2
1144.0
1137.2
1136.0

3635.3
3610.8
3630.3
3661.9
3649.7
3693.7
3716.8
3736.1
3747.3

4336
4325
4355
4394
4402
4453
4484
4514
4525

.6
.4
.8
.6
.0
.0
.0
.8
.3

5318.0
5327.1
5377.7
5415.9
5413.8
5460.4
5473.0
5515.5

12989.5
13042.0
13108.1
13159.9
13226.8
13309.0
13356.5
13389.1 p

Footnotes appear on the following page
p

preliminary




p

Page 2

H.6(508)
Table 2

MONEY STOCK AND DEBT MEASURES

Percent change at seasonally adjusted annual rates
M2

M3

DEBT1

SEP.

1995

-1.4

6.4

7.0

4.0

f r o m MAR.

1 9 9 5 TO S E P .

1995

-1.4

6.9

8.2

5.4

f r o m SEP.

1 9 9 4 TO S E P .

1995

-1.0

4.0

6.0

5.5

-1.0

7.6

8.7

3 Months

f r o m JUNE 1 9 9 5 t o

6 Months
12 M o n t h s

T h i r t e e n w e e k s e n d i n g OCTOBER 2 , 1 9 9 5
from t h i r t e e n weeks ending:
JULY
3, 1995 (13 weeks p r e v i o u s )

1.

M1

APR.

3,

1995

(26 weeks p r e v i o u s )

-1.0

6.2

8.1

OCT.

3,

1994

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

-0.8

3.5

5.7

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, May 1995 to August 1995, February 1995 to August 1995,
and August 1994 to August 1995, 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 norbank 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 (NOW) and automatic transfer
service (ATS) accounts at depository institutions, credit union share draft accounts and demand deposits at thrift institutions. Seasonally adjusted M1 is calculated by
summing currency, travelers checks, demand deposits, and OCDs, each seasonally adjusted separately.
Consists of M1 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, 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 M1.
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
r
mutual fund holdings of these assets.
Debt: The debt aggregate is the outstanding credit market debt of the domestic nonfinancial sectors — the federal sector (U.S. government, not including governmentsponsored enterprises or federally related mortgage pools) and the nonfederal sectors (state and local governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal debt consists of mortgages, tax-exempt and corporate bonds consumer credit, bank loans,
commercial paper, and other loans. The data, which are derived from the Federal Reserve Board's flow of funds accounts, are break-adjusted (that is, discontinuities in
the data have been smoothed into the series) and month-averaged (that is, the data have been derived by averaging adjacent month-end levels). The presentation of the
debt data in this release differ, therefore, from the quarterly flow of funds statistics contained in the Federal Reserve releases Z.7 and Z 1 In those releases published
levels of credit market debt are measured on a quarter-end basis and contain discontinuities.
'




Page 3

H.6 (508)
Table 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjusted
M1
Period ending
1 9 9 5 - J U L Y 10
17
24
31

M2

M3

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

1145.0
1144.3
1143.7
1143.8

114*4.2
1143.2
1142.6
1144.3

1144.1
1141.1
1142.4
1149.6

3676.1
3681.7
3687.2
3692.8

3705.9
3708.2
3712.2
3717.4

3710.7
3711.2
3721.3
3726.4

4429.8
4437.7
4445.9
4454.6

4468.7
4473.5
4481.8
4491.8

4472.5
4485.0
4498.6
4511.1

AUG.

7
14
21
28

1143.8
1143.8
1144.0
1144.2

1144.4
1144.9
1145.7
1144.2

1144.6
1143.0
1145.4
1143.6

3699.2
3705.5
3712.0
3717.9

3723.6
3730.4
3737.2
3743.0

3735.6
3738.2
3748.4
3749.6

4463.6
4471.9
4480.0
4488.1

4503.2
4510.3
4516.0
4520.7

4518.2
4513.3
4521.5
4529.7

SEP.

4
11
18
25p

1144.0
1143.9
1143.6
1143.3

1143.6
1143.5
1142.2
1141.5

1142.3
1142.6
1140.1
1141.0

3723 ,
3727 ,
3732,
3736,

3747.5
3751.5
3754.2
3756.9

3753.6
3754.2
3759.3
3760.3

4495.5
4501.6
4507.2
4512.8

4524.7
4529.9
4534.2
4536.3

4534.4
4534.1
4538.6
4538.2

OCT.

2p

1142.5

1139.1

1132.5

3740.5

3758.0

3758.3

4518.4

4538.7

4543 .7

Not seasonally adjusted
1 9 9 5 - J U L Y 10
17
24
31
AUG.

1142.7
1140.5
1138.7
1138.3

1141.9
1143.3
1145.4
1142.1

1164.0
1145.6
1126.6
1132.1

3674.1
3677.5
3681.6
3687.1

3701.4
3707.3
3715.2
3716.3

3736.1
3719.3
3703.1
3706.7

4425.9
4431.3
4438.2
4446.9

4457.2
4464.3
4477.0
4485.1

4487.7
4486.8
4477.2
4488.7

1139.0
1139.4
1140.2
1140.3

1139.3
1138.9
1141.2
1138.0

1152.8
1143.9
1136.0
1119.1

3694.3
3701.3
3708.5
3714.2

3718.2
3723.6
3732.9
3736.5

3743.5
3741.2
3740.0
3721.1

4456.7
4465.7
4474.4
4482.0

4494.4
4502.0
4511.0
4515.1

4524.7
4517.4
4513.3
4504.8

18
25p

1139.7
1140.3
1140.3
1140.0

1135.6
1138.8
1139.9
1138.7

1143.4
1156.6
1140.3
1114.5

3718.5
3723.3
3727.6
3731.4

3738.4
3745.8
3748.8
3748.7

3751,
3770.
3752,
3720 <

4488.1
4494.2
4499.9
4505.2

4516.7
4525.3
4530.1
4527.7

4531.1
4552.1
4532.3
4495.1

2p

1138.2

1133.3

1121.8

3734.2

3745.6

3739.1

4509.5

4522.9

4512.1

7
14

21
28
SEP,

4

11

OCT.

Note: Special caution should be taken in interpreting week-to-week c h a n g e s 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

At commercial
banks4

At thrift
institutions5
112.0

Nontransactions components
Total

In M2e

In M3 only7

111.5

412.4
412.5

2465.0
2458.2

642.7
651.0

8.1
8.2

385.6
386.3

300.5
301.0

JULY
AUG.
SEP.

342.8
345.1
347.2

8.3
8.3
8.4

388.1
386.6
386.5

301.7
301.0
300.0

111.4
109.7
108.9

413.1
410.8
408.9

2464.5
2464.0
2463.0

657.5
658.9
665.9

OCT.
NOV.
DEC.

350.0
353 .0
354.5

8.3
8.4
8.4

384.5
382.5
382.2

298.0
297.7
297.6

107.5
106.1
105.3

405.4
403.8
402.9

2461.9
2464.2
2468.8

676.3
680.1
687.2

1995-JAN.
FEB.
MAR.

357.7
358.8
362.5

8.4
8.4

8.8

383.6
384.1
383.3

295.1
291.8
289.3

104.2
104.1
104.0

399.3
395.9
393.3

2479.8
2477.3
2484.3

698.2
712.2
727.7

APR.
MAY
JUNE

365.7
368.1
367.4

9.2
9.2
9.0

381.2
380.6
386.8

289.6
281.9
276.3

103.9
103.1
104.3

393.6
385.0
380.6

2495.8
2519.1
2554.4

737.4
750.2
761.1

JULY
AUG.
SEP. p

367.1
368.2
369.0

8.9
8.9

389.5
390.1
389.8

275.7
272.2
267.0

103.7
104.2
105.3

379
376
372

2572.4
2599.5
2617.5

773.4
778.0
780.3

7
14
21
28

367.8
368.2
368.4
369.1

8.8
8.8

388.6
389.0
391.8
390.8

275.5
273.4
272.1
270.0

103.9
103.6
104.2
104.9

379.4
377.0
376.3
374.9

2591.0
2595.2
2603.0
2606.0

782.6
775.1
773.1
780.1

4
11
18
25p

368.4
368.4
368.8
369.1

8.9
8.9

8.8
8.8

387.9
390.0
389.5
394.4

270.5
270.1
268.5
264.5

106.6
105.3
104.6
104.2

377.1
375.3
373.1
368.7

2611.3
2611.6
2619.2
2619.3

780.8
779.9
779.3
777.9

2p

370.0

8.7

387.8

259.4

106.5

365.9

2625.9

785.4

SEP.

OCT.

7.

Other checkable deposits

337.3
340.0

1995-AUG.

4.
5.
6.

Demand deposits3

1994-MAY
JUNE

Week ending

1.
2.
3.

Travelers checks 2

8.8

8.9
8.9

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 c h e c k s 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 a g e n c i e s 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 overnight 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 a s a whole.
Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), l e s s the estimated amount of overnight RPs and
Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted a s a whole.

e
estimated



p

preliminary

Page 5

H.6 (508)
Table 4 - continued

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

At
commercial
banks

At
. thrift
institutions

1994-MAY
JUNE

784 .6
780 . 0

JULY
AUG.
SEP.

3

Large-denomination time deposits
Institutiononly money
market funds — s r —
commercial
thrift
Total
bant(S4
institutions

Total

At
thrift

430 .2
426 .8

1214 .8
1206 .8

464 .6
467 .4

306.2
305.5

770 .8
772 .9

373 .5
370 .7

177 . 5
177 . 9

272 .0
274 .0

60.4
61.0

332.4
335.0

778 .0
775 .7
772 . 8

423 .2
417 .0
410 .9

1201 .2
1192 .6
1183 .7

470 .0
476 . 1
481 .2

306.6
306.8
308.3

776 .5
782 .8
789 .6

376 . 1
377 .0
377 .4

178 .7
177 . 4
176 .3

276 .4
280 . 1
285 . 1

62.0
61.9
63.1

338.4
342.0
348.2

OCT.
NOV.
DEC.

765 .4
759 .2
752 .3

405 .6
398 .5
3 9 1 .9

1171 .0
1157 .8
1144 .2

487 .8
494 . 1
502 . 6

311.9
316.7
318.3

799 .7
810 .8
820 .9

379 .5
383 .3
389 .0

180 . 8
180 . 5
180 .8

289 .4
292 .9
296 .6

64.2
64.5
64.9

353.6
357.4
361.4

1995-JAN.
FEB.
MAR.

744,. 1
7 3 4 . .2
7 2 3 .-3

3 8 5 ,.6
3 7 7 ,,6
371. 6

1129,.8
1 1 1 1 , ,9
1 0 9 4 , ,9

512,.7
5 2 4 ,.2
5 3 7 ..8

323.9
332.3
341.7

836,.5
8 5 6 ,,5
8 7 9 ..5

392,. 1
3 9 1 ,,5
390. 9

186,.3
1 8 0 ,,4
189. 0

2 9 5 ,.2
303,. 1
3 0 8 ,,5

66.7
68.1
70.1

361.9
371.2
378.6

APR.
MAY
JUNE

716 . 0
717 . 2
728. 1

366. 4
364. 2
363. 0

1 0 8 2 . ,4
1081. 4
1091. 1

5 4 8 .,1
556. 2
562. 4

350.4
356.5
357.3

898. 5
912. 7
919. 7

396, 0
405. 4
426. 2

192. 9
194. 8
205. 6

309. 0
315. 1
318. 5

71.2
70.4
70.8

380.2
385.5
389.3

JULY
AUG.
SEP. p

730. 7
739. 5
746. 6

360. 7
358. 7
358. 6

1091. 5
1098. 2
1105. 1

566. 7
568. 8
569. 6

357 .5
358.0
359.3

924. 2
926. 8
929. 0

442. 0
455. 9
462. 6

212. 4
210. 8
213. 5

323. 7
326. 5
329. 4

72.6
73.2
73.6

396.3
399.7
403.0

7
14
21
28

737
739
740
741

359
358
359
358

1096
1098
1099
1100

568
568
569
569

.5
.7
.0
.1

357.6
357.7
358.1
358.4

926.1
926.4
927.1
927.5

451
454
456
458

.8
.3
.6
.1

213.0
209.9
210.2
209.3

329.7
322.5
326.4
326.8

73.3
73.2
73.1
73.0

403.1
395.7
399.6
399.8

4
11
18
25p

7 4 1 ,.6
7 4 4 , .3
7 4 7 ..3
7 4 7 .,8

3 5 7 , .7
3 5 7 .,3
3 5 8 . .7
359. 5

1 0 9 9 ,.3
1 1 0 1 , .6
1 1 0 6 , .0
1 1 0 7 . ,3

568,.9
5 6 9 , ,2
569,,8
570. 2

358.7
359.1
359.4
359.5

927.6
928.3
929.2
929.7

462,.5
4 6 2 , .2
4 6 2 ,,5
462,,1

213.1
213.3
213.9
213.5

327.2
328.0
328.4
329.4

73.4
73.3
73.6
73.6

400.6
401.3
401.9
403.1

2p

751. 0

359. 4

1110. 4

570. 0

359.8

929.8

464. 0

213.9

334.4

74.4

408.8

1995-AUG.

SEP.

OCT.

p

General
purpose and
broker/
dealer
money

At
commercial

Weefc e M i a o

3.
4.

Small-denomination time deposits2

.1
.3
.6
.5

.1
.9
.2
.5

Savings deposits include money market deposit accounts.
Small-denomination time
and thrifts are subtracted t T ' m w n ' m e d e p o s k
Large-denomination time
Large-denomination time
official institutions.

$SS

preliminary




.3
.2
.8
.1

i s s u e d in a m l

"J",s

'===

Total

lh

market

« " " 0 0 . 0 0 0 . All IRA and Keogh account balances at commercial banks
foreign banks and

Page 6
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
Date

1.

Savings bonds

Short-term T reasury
securities1

Bankers acceptances2

Commercial paper3

Federal debt

Non-Federal debt

1994-MAY
JUNE

175.7
176.7

361.1
357.2

15.6
14.9

392.2
387.0

3402.5
3416.3

9210.9
9236.3

JULY
AUG.
SEP.

177.7
178.5
179.1

360.8
365.1
360.6

13.2
13.8
14.8

391.1
395.4
390.2

3419.3
3436.6
3453.8

9360.3
9308.2
9350.1

OCT.
NOV.
DEC.

179.5
179.9
180.3

358.6
361.9
370.3

13.1
13.5
14.0

399.9
401.4
401.3

3469.3
3493.9
3497.4

9381.5
9423.9
9462.3

1995-JAN.
FEB.
MAR.

180.5
180.4
180.5

371.5
390.1
402.2

13,
13 ,
14,

402.8
414.7
421.7

3504.7
3535.8
3557.5

9510.1
9558.9
9598.5

APR.
MAY
JUNE

180.9
181.6
182.3

397.3
384.4
391.6

13

430.8
443.8
427.5

3559.5
3577.0
3602.0

9668.6
9742.2
9772.9

JULY
AUG. p

183.0
183.7

372.7
371.1

11.7

428.0
440.7

3614.4
3620.0

9797.0
9830.9

12
11.3

10.2

2.
3.
4.

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




I I.VJ
Table 5

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

Date

Nontransactions components

Overnight

In M3 only7

Overnight
Eurodollars6

Total

In M26

409.7
411.2

2463.1
2458.1

644.6
649.5

78.4

80.6

26.2

80.4

377.7
382.3

298.1
299.5

JULY
AUG.
SEP.

344.7
345.7
347.0

8.8
8.9

387.3
383.1
384.7

298.4
297.2
297.4

111.6
109.0
108.3

410.0
406.2
405.6

2464.6
2463.4
2457.3

652.4
659.9
664.1

83.9

29.1
28.9
28.1

OCT.
NOV.
DEC.

349.6
353.2
357.6

8.5

387.9
390.8
400.3

294.1
296.0
300.6

107.4
107.1
107.0

401.4
403.1
407.6

2459.7
2464.7
2466.7

674.4
686.2
689.7

83.7
83.3
84.6

30.3
30.1
32.5

1995-JAN.
FEB.
MAR.

355.9
357.1
361.4

8.1
8.1

388.9
375.0
374.1

301.3
292.3
291.1

104.4
103.0

405.7
394.1
394.2

2476.7
2476.5
2492.2

701.3
714.6
725.5

87.5
86.7
87.5

36.3
31.6
30.7

85.7

30.1
29.9
29.6

8.8
8.2

8.1

8.4

8.8

111.7

101.8

82.1

24.1

APR.
HAY
JUNE

365,
367,
368.

8.9
9.2

382.0
372.8
382.6

296.6
279.7
274.9

105.7
102.7
104.3

402.3
382.4
379.3

2503.2
2517.7
2554.5

732.7
752.3
759.3

JULY
AUG.
SEP. p

369,
368,
369,

9.5
9.5
9.3

388.7
386.6
388.2

272.8
268.8
264.7

104.0
103.4
104.7

376.8
372.2
369.4

2572.8
2598.9
2611.4

767.2
778.7
777.9

88.6

29.4
31.4
32.7

9.5
9.5
9.5
9.5

389.8
389.5
387.4
378.7

275.6
271.1
267.6
263.1

107.0
103.8

28

371.0
370.0
368.9
367.2

382.6
374.9
370.2
363.7

2590.7
2597.3
2604.0
2602.0

781.2
776.2
773.3
783.7

84.4
85.0
89.3
87.8

29.2
30.8
32.4
33.0

4
11
18
25p

369.9
370.3
368.6
367.6

9.5
9.4
9.3
9.2

387.4
396.0
390.0
380.8

270.3
273.2
267.9
256.1

2607.9
2614.1

100.8

376.7
380.9
372.5
356.9

2611.8
2606.0

779.8
781.4
780.2
774.6

90.6
89.0
87.4
87.3

31.6
32.3
32.1
32.2

2p

367.8

9.1

388.2

253.0

103.9

356.8

2617.3

773.0

90.2

35.4

SEP.

OCT.

S.

At thrift
institutions6
111.6

7.9
8.3

7
14

21

7.

Other checkable deposits
At commercial
banks4

337.2
340.5

ending

4.
5.
6.

Demand
deposits3

1994-HAY
JUNE

1995-AUG.

1.
2.
3.

Travelers
checks 2

102.6
100.6
106.4
107.7
104.5

86.6
87.7
84.9
87.0

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 c h e c k s issued by depository institutions are included in demand deposits.
Demand deposits at commercial banks and foreign-related institutions other than t h o s e due to depository institutions, the U.S. government and foreign banks and official
institutions, l e s s c a s h items in the p r o c e s s of collection and Federal Reserve float.
Consists of NOW and ATS balances at commercial banks, U.S. branches and a g e n c i e s 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 overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including money market deposit accounts) and smal time
oeposns.
Sum of large time deposits, term R P s and Eurodollars of U.S. residents, money market fund balances (institution-only), l e s s the estimated amount of overnight R P s and
Eurodollars held by institution-only money market mutual funds.
nro «iu
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
DroKer/aeaierj.

Digitized
FRASER
9. for
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).


Page 8
H.6 (508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not s e a s o n a l l y a d j u s t e d

1215.9
1210.4

At
commercial
banks
463.7
467.0

At
thrift
istitutions
305.5
305.2

769.2
772.2

General
purpose and
broker/
dealer
money
market fOnds
375.4
368.7

424.3
417.7
410.8

1204.3
1194.6
1183.6

470.5
476.6
481.8

306.9
307.1
308.7

777.5
783.7
790.5

7 65 . 5
761.4
751.1

405.7
399.7
391.2

1171.1
1161.0
1142.3

488.4
493.8
502.2

312.3
316.5
318.1

1995-JAN.
FEB.
MAR.

739 . 5
729 .8
723 .4

383.2
375.3
371.6

1122.7
1105.1
1095.0

513.1
524.4
537.6

APR.
MAY
JUNE

717 . 8
717 . 8
730.2

367.4
364.5
364.1

1085.2
1082.3
1094.3

JULY
AUG.
SEP. p

732 . 6
740.8
746.7

361.7
359.4
358.6

740.3
742 . 4
740.9
740.0

Small-denomination time deposits 2

S a v i n g s deposits 1
Date

1.
2.
3.
4.

p

At .
commercial
banks 4

176.8
172.5

274.1
275.3

373.4
374.2
371.3

173.8
176.2
172.6

275.4
281.4
286.2

61.8
62.2
63.3

337.1
343.6
349.6

800.7
810.4
820.2

373 ,
379,
387 ,

178,
182,
183,

290.0
294.4
296.3

64.3
64.8
64.8

354.3
359.1
361.1

324.2
332.4
341.6

837.3
856.8
879.2

392.8
396.3
399.8

192.4
188.8
190.8

293.8
301,6
306.4

66.4
67.8
69.7

360.2
369.4
376.1

547.5
555.1
562.0

350.0
355.8
357.0

897.5
910.9
919.0

404.8
407.9
423.9

191.3
193.8
199.2

306.8
317.6
320.0

70.7
70.9
71.1

377.6
388.5
391.1

1094.2
1100.2
1105.3

567.5
569.4
570.1

357.9
358.4
359.6

925.4
927.8
929.8

438.9
452.6
454.9

206.6
209.3
209.0

322,
327,
330,

72.3
73.5
73.9

394.6
401.4
404.5

360.7
360.4
359.4
357.8

1101.0
1102.7
1100.3
1097.8

569.3
569.5
569.5
569.4

358.1
358.1
358.4
358.5

927.5
927.6
927.9
927.9

448.6
451.2
454.1
455.5

209.9
208.8
208.9
209.7

329.6
323.7
327.8
329.7

73,
73,
73,
73,

403.0
397.2
401.3
403.3

At
thrift
institutions
430.6
428.1

JULY
AUG.
SEP.

780.0
777 .0
772 .7

OCT.
NOV.
DEC.

Week ending
1995-AUG,
7
14
21
28

Large-denomination time deposits 3
AT
thrift
institutions
60.9
61.3

commercial
banks
785 .3
782 . 3

1994-MAY
JUNE

Institutiononly money
market funds

Total

Total

Total
335.0
336.6

SEP.

4
11
18
25p

743 .6
748 .5
747.7
744.6

358.7
359.4
358.9
357.9

1102,
1107,
1106,
1102,

569.5
569.8
570.1
570.4

359.1
359.5
359.6
359.6

928.6
929.3
929.7
930.1

454.7
455.5
456.0
454.1

208.9
210.5
210.3
207.8

329.1
330.7
329.9
329.9

73
73
73
73

402.9
404.7
403.8
403.6

OCT.

2p

748 .3

358.1

1106.4

570.8

360.4

931.2

454.1

206.6

333.8

74.2

408.0

S a v i n g s d e p o s i t s i n c l u d e m o n e y market d e p o s i t a c c o u n t s .
S m a l l - d e n o m i n a t i o n t i m e d e p o s i t s — i n c l u d i n g retail R P s — a r e t h o s e i s s u e d in a m o u n t s of l e s s t h a n $ 1 0 0 , 0 0 0 . All IRA a n d K e o g h a c c o u n t b a l a n c e s at c o m m e r cial b a n k s a n d thrifts a r e s u b t r a c t e d from s m a l l t i m e d e p o s i t s .
L a r g e - d e n o m i n a t i o n t i m e d e p o s i t s a r e t h o s e i s s u e d in a m o u n t s of $ 1 0 0 , 0 0 0 or m o r e , e x c l u d i n g t h o s e b o o k e d at i n t e r n a t i o n a l b a n k i n g facilities.
L a r g e - d e n o m i n a t i o n t i m e d e p o s i t s at c o m m e r c i a l b a n k s l e s s t h o s e held by m o n e y m a r k e t mutual f u n d s , d e p o s i t o r y institutions, U . S . g o v e r n m e n t , a n d f o r e i g n
b a n k s a n d official institutions.
preliminary




Page 9

H.6 (508)
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Term RPs1
Date

At thrift
institutions

Total

Savings bonds

Short-term
Treasury
secunties3

Bankers
acceptances4

Commercial
paper6

Federal debt

Non-Federal
debt

1994-MAY
JUNE

68.8

28.8

97 . 6

71.8

30.3

102.1

47.7
50.3

176.2
176.9

359.2
354.0

15.3
14.5

384.7
385.2

3379.7
3394.5

9161.1
9202.8

JULY
AUG.
SEP.

70.8
68.2
68.3

32.0
32.8
33.4

102.8
101.0
101.7

51.0
51.2
52.1

177.4
177.9
178.4

358.4
366.9
353.4

13.1
13.5
14.4

387.8
389.6
391.5

3393.9
3418.3
3438.3

9237.3
9274.2
9321.9

OCT.
NOV.
DEC.

67.2
67.5
67.8

34.8
35.6
37.7

101.9
103.1
105.6

52.7
54.5
52.4

179.0
179.7

180.2

350.7
365.8
379.3

13.3
13.6
14.4

404.2
405.3
403.6

3448.5
3485.2
3499.0

9363.4
9404.7
9452.7

1995-JAN.
FEB.
MAR.

70.3
73.3
72.6

39.2
40.1
40.8

109.4
113.4
113.4

53.1
56.3
58.3

180.6
180.8
181.2

376.2
391.6
406.5

14.2
13.9
13.9

410.5
415.3
420.4

3499.0
3525.0
3551.1

9490.5
9517.0
9557.0

APR.
MAY
JUNE

74.7
78.5
76.9

41.8
43.2
42.9

116.5
121.7
119.8

59.9

61.1

181.7
182.1
182.4

395.2
382.9
388.5

13.7

430.8
434.7
425.5

3544.1
3552.6
3579.3

9615.8
9674.2
9729.7

JULY
AUG.
SEP. p

72.4
73.6
71.1

42.8
43.9
44.1

115.2
117.5
115.2

63.8
63.5
62.4

182.8
183.0 p

370.3
373.3 p

11.6

424.3
434.4 p

3588.8
3602.2 p

9767.7
9786.9 p

74.3
76.2
69.5
74.5

43.7
43.8
44.0
44.1

118.0
120.0

63.1
63.4

113.5
118.7

62.8

25p

73.3
71.7
73.0
70.3

44.2
44.2
44.6
44.0

117.4
115.9
117.6
114.3

63.2
63.6
61.7
62.3

2p

67.0

43.5

110.6

61.0

Week ending
1995-AUG.

7
14

21
28
SEP.

4
11

18

OCT.

1.
2.

At commercial
banks

Debt components6

Non-M3 Components of L
Term
Eurodollars2

62.4

12.1
11.0
9.9 p

65.0

4.
5.
6.

Term RPs are those with original maturities greater than o n e day, excluding continuing contracts and retail RPs.
Term Eurodollars are t h o s e 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 l e s s than 12 months held by other than depository institutions, Federal Reserve Banks monev
7
market mutual funds, and foreign entities.
'
Net of bankers a c c e p t a n c e s held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds
Total commercial paper l e s s 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.




e

#

#

e

•

#

e

#

#

e

i
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
' o*al
.
balance

Time and
savings
deposits at
commercial
banks

At
commercial
banks

2 4 .,3
18. 4

3 4 , ,4
29,. 6

3. 1
2. 9

142,. 2
142,,3

112. 2
1 1 1 . .5

56. 4
56. 8

310. 9
3 1 0 . ,6

5 .. 4
5, . 1
6, , 0

1 1 .,3
1 0 ., 1
1 6 ,,9

21,,5
1 9 ,,0
28,.8

2 , ,7
2, 9
2 ,, 5

142,, 6
142,,6
1 4 2 ..7

1 1 0 . ,7
1 0 9 , .7
1 0 8 , .7

55. 9
56. 1
56. 8

3 0 9 , ,2
308,. 4
308,, 1

4 .3
3 .9
5 . .7

5, . 6
5. ,2
6. 2

1 2 .. 1
9 .. 8
1 3 ,. 4

2 2 ..0
1 8 ., 9
2 5 ,,3

2 ,, 2
1, . 9
1, 3

1 4 2 ..7
1 4 2 .• 9
143,.3

1 0 8 .. 1 e
1 0 7 ..9 e
1 0 7 .. 6 e

58. 3
5 9 ..4
5 9 ,,7

309,.1 e
3 1 0 . .2 6
3 1 0 ..5 e

1 4 ., 0
1 3 ,,3
1 2 , ,7

4 , .9
3, . 3
3 .4

7 ,. 0
5 ., 9
5, .2

2 0 .,0
2 1 ,. 1
1 0 ., 1

3 1 ,.9
3 0 ,,3
1 8 .. 8

1 , ,2
2 ,, 3
2 ,. 4

1 4 3 , .7
144,.6
145,,6

107 .5 e
107 .7 e
107 .7 e

5 9 .. 7
5 9 .. 9
6 0 .. 1

310 .9 e
312 .2 e
313 .3 e

1, .6
1, , 5
1, . 6

1 2 ., 3
1 2 .. 3
1 2 .. 3

5 .5
3 .1
4 .5

6. ,2
5. . 7
7 .. 9

1 2 .. 4
1 8 ., 7
1 9 .. 6

2 4 .. 1
2 7 ..5
3 2 ..0

2 ., 6
2 ., 6
2 .. 6

1 4 6 ..4
1 4 6 ., 8
1 4 7 .. 8

107 .6 e
107 .4 e
107 .2 e

6 0 .. 3
6 0 ,. 5 e
6 0 ,. 6 e

314 .2 e
314 .6 e
315 .7 e

8.4
7.5
7.5

1, , 5
1, , 5
1, . 7

1 2 .. 3
1 2 ., 3
1 2 .. 3

3 .3
2 .8
5 .9

6.. 6
5.. 3
6.. 8

2 7 ,.7
1 3 ,. 6
1 7 ,. 8

3 7 ..6
2 1 . .7
3 0 .. 5

2 .. 8
2 ., 9
2 .. 8

1 4 9 ..2
1 4 9 ., 9
1 5 0 .,2

107 . 1 e
106 . 8 e
106 .6 e

60 .7 e
60 . 7 e
60 . 7 e

316,.9 e
317,.4 e
317 .5 e

7.5
7.2
7.4
7.6

1, . 5
1., 6
1, . 5
1. . 5

1 2 ,. 3
1 2 ,. 3
1 2 ,, 3
1 2 .. 3

3 .0
2 .6
3 .2
2 .5

5.. 4
5.. 3
5.. 5
4 .. 9

25 .4
16 • 9
7 .3
7 ,. 8

3 3 .. 8
2 4 .. 9
1 6 .. 0
1 5 . .2

2 .. 9
2 .. 9
2 ,, 9
2 ,. 9

.7
.5
.4
.6

5., 3
4 .. 6
7 .. 1
9. . 2

6 .5
3, . 6
1 3 ,. 2
3 5 ,. 4

1 5 .. 4
1 1 ,.6
3 3 , .7
4 8 , .2

2,
2.
2.
2.

3 .8

7 ., 5

2 8 ,. 6

4 0 , .0

2. 8

Balance
at
Federal
Reserve

13. 0
13. 1

4 . .2
5 . ,3

5. 9
5 . ,9

1. 5
1. 5
1 ., 5

13. 4
1 4 . ,0
1 4 .,6

4 . .8
3 . .9
5 .8

8.0
8.4
8.7

1 . .6
1 ., 8
1. 6

1 4 ,,8
1 4 ., 6
1 4 . ,4

1995-JAN.
FEB.
MAR.

8.4
8.0
8.1

1 . .6
1 . ,6
1 . .6

APR.
MAY
JUNE

7.7
8.1
8.1

JULY
AUG.
SEP. p

Foreign
commercial
banks

Foreign
official
institutions

1994-MAY
JUNE

8.1
8.2

1. 5
1. 5

JULY
AUG.
SEP.

8.3
7.7
8.1

OCT.
NOV.
DEC.

Week e n d i n c r
1995-AUG.
7
14
21
28

1

SEP.

4
11
18
25p

7.7
7.5
7.4
7.6

1, , 5
1, . 8
1, , 7
1, . 6

1 2 .. 3
1 2 .. 3
1 2 ., 3
1 2 .. 3

OCT.

2p

7.4

1, , 7

1 2 .. 3

estimated
preliminary




IRA and Keogh Accounts

c asri

Demand
deposits at
commercial
banks

Date

e
p

Time and
savings
deposits
due to
foreign
banks and
official
institutions

3
3
13
3

Note
balances at
depository
institutions

9
8
8
8

At
thrift
institutions

At

3
™unds

Total