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