Full text of H.6 Money Stock Measures : October 16, 1986

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

FEDERAL RESERVE statistical release
These data are scheduled for release each Thursday at 4:30 p.m.

-4.6<5Q6>

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

OCTOBER

Billions of dorian
M1
Sum of currency.
travelers checks,
demand deposits end
other checkable deposits1

Date

M2
M3
M1 plus overnight RPs
M2plus
and Eurodollars,
large time deposits,
MMMF balances (gen. pur. term RPs, term Eurodollars
and broker/dealer), MMDAs,
and institution-only
and savings end small
MMMF balances1
time deposits'
Seasonally adjusted

16, 198b

L

Debt

M3 plus other
liquid assets4

Debt of domestic
nonfinancial sectors5

1985--SSPT.
OCT.
HOY.
DEC

611.5
614.2
620. 1
626.6

2529.9
2538.9
2551.4
2566.5

3150.8
3165.7
3181.2
3201.1

3740.8
3762.7
3800.4
3839.5

6502.0
6560.8
6643.5
6769.0

1986—JAM.
FEB.
MAB.
APR.
HAY
JU*£
JULY
AOG.
SEPT. P

627.2
631.0
638.4
646. 1
658.6
6*6.8
676.1
687.8
493.3

2569.9
2577.7
2592.4
2622.1
2649.6
2670.6
2699.1
2723.8
2740.6

3224.5
3241.5
3262.5
3293.7
3315.3
3338.9
3375.1
3399.9
3424.7

3862.0
3880.9
3894.9
3918.4
3950.5
3973.8
4007.0
4035.8

6867.5
6911.0
6954.6
7012.1
7079.5
7145.5
7208.4
7262.9

3144.3
3162.7
3184.7

3736.5
3760.2
3803.1
3845.7

6402.3
6545.2
6629.1
6762.4

3232.2

3867.2
3673.3
3899.0
3928.5
3937.2
3973.9
4007.1
4032.3

6861.5
6894. 1
6931.4
6985.J
7048.1
7110.8
7172.9
7251.7

Not seasonally adjusted

1985--SEPI.
OCT.
RO¥.
1986—JAM.
FEB.
flAfi.
APfi.
HAT
JUME
JULI
AUG.
SEP1.

P

609.1
612.2
621.7
639.9

2521.4
2534.2
2549.7
2574.7

633.5
619.2
630.5
652.9
651.8
669.1
679.8
684.8
690. 9

2578.6
2570.9
2594.4
2631.8
2640.6
2672.8
2704.4
2718.6
2731.3

32%3.8

3233^^

3262.9
3300.2
3308.5
3339.6
3372.7
3394.6
3417.4

M1
For period ended

1986-SEPT.

OCT.

Seasonally adjusted

Not seasonally adjusted

1
8
15
22
29 P

677.3
679.5
681.2
683.4
685.5

688.6
691.2
692.0
693.5
693.7

693.0
695.5
690.8
694.7
693.6

678.3
680.4
682.1
683.9
685.0

683 • 6
687 • 2
689 . 8
692 . 2
690 . 8

682.9
703.3
697.6
684.9
677.5

6 P

687.6

695.1

701.3

686.0

690 . 9

703.7

MOTE:

. ••«•
F — INDICATES PBELIBIllAftX DATA.
FUOTVOTES APPEAB 0 1 THE FOLLOU1BG PACE




H.6 (508)
Table 2

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

M1

M2

M3

Debt1

3 HONTMS FBOM JOUS

1986 TO SEPT. 19B6

15.9

10. 5

10.3

11.5

6 MONTHS PBOM MAR.

1986 TO SEPT. 1986

17.2

11.4

9.9

10.8

12 SOUTHS FBOM SKPX. 1985 TO SEPT. 1986

13.4

8.3

8.7

13.0

THIRTEEN WEEKS ENDING OCT. 6, 1986
PBOM 1HIBIEEM WEEKS ENDING:

1/

1/

2/

3/

«/
5/

JULI

7, 1986 (13 WEEKS PMBflOOS)

17.1

APB.

7, 1986 (26 WEBKS PREVIOUS)

17.0

OCT.

7, 1985 (52 WEEKS PREVIOUS)

13.5

GROWTH BATES FOB DEBT ABB BASED ON PEBIOOS BEG I** IMG AMD EMDIMG OMB MONTH BABLIEB THAN FOB TUB MONETARY AGGREGATES,
NAMELY, HAY 1986 TO AUGUST 1986, FEBRUARY 1986 TO AUGUST 1986, AMD AUGUST 1985 TO AUGUST 1986. RESPECTIVELY.
FOOTMOTES TO TABLE 1
CONSISTS Of (1) CURRENCY OUTSIDE TUB TREASURY, FEDERAL BESEBUE BANKS, AMD TBE YAULTS OF COMMERCIAL BANKS;
(2) TRAVELERS CHECKS OF MOMBAMK ISSUERS; (3) DEMAND D&BOSLTS AT ALL COMMERCIAL BANKS OTUBB THAN THOSE DUB TO
DOMESTIC BANKS, THE U.S. GOYEBMHSNT, AMD FOBEIGM BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IU THE PBOCBSS
OF COLLECTION AND FEDERAL ItESEBVB FLOAT; AND (<*) OTUEB CHECKABLE D&eOSlTS (OCD) CONSISTING OF NEGOTIABLE OBDEB
OF WITHDRAWAL (*OU) AND AUTOMATIC TBANSFEB SEBVICE (ATS) ACCOUNTS AT DEPOSITORY INSTITUTIONS,
CHBDIT UNION SHABE DBAFT ACCOUNTS AND DEMAND DEPOSITS AT THBIFT INSTITUTIONS. THE CUBBENCY AND DEMAND
DEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AND DEMAND DEPOSITS, RESPECTIVELY, HELD BY
THBIFT INSTITUTIONS TO SEBVICE THEIB OCD LIABILITIES.
. CONSISTS OF M1 PLUS OVEBNIGHT (AND CONTINUING CONTBACT) EPS ISSUED BY ALL COMMEBCIAL BANKS AND OVEBNIGUT EUBODQLLABS
ISSUED TO U.S. BESIDEHTS BY FOBEIGN BRANCHES OF U.S. BANKS WORLDWIDE, HMDAS, SAVINGS AND SMALL DENOMINATION
TIME DEPOSITS (TIME DEPOSITS—INCLUDING BETAIL EPS—IN AMOUNTS OF LESS THAN $100,000), AND BALANCES IN BOTH
TAXABLE AND TAX-EXEMPT GEMEBAL PURPOSE AND BHOKEB/OEALEH MONEY MABKET MUTUAL FUNDS. EXCLUDES IMA AND KEOGH
BALANCES AT DEPOSITORY INSTITUTIONS AND HOMEY MABKET FUNDS. ALSO EXCLUDES ALL BALANCES HELD BY U.S. COMMEBCIAL
HANKS, MONEY MABKET FUNDS (GENERAL PURPOSE AMD BROKER/DEALER), FOUEIGU GOVERNMENTS AND COMMERCIAL BANKS, AND
THE U.S. GOVERNMENT. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT
OF DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SEBVICE THEIR TIME AND SAVINGS DEPOSITS.
CONSISTS OF M2 PLUS LABGE DENOMINATION TIME DEPOSITS (IN AMOUNTS OF $100,000 OB MOBB) AND TEBM BP LIABILITIES ISSUED
BY COMMEBCIAL BANKS AND THRIFT INSTITUTIONS, I'ERM EURODOLLARS HELD BY U.S. RESIDENTS AT FOREIGN BBANCUBS OF U.S. BANKS
WORLDWIDE AND AT ALL aANKING OFFICES IN THE UNITED KINGDOM AND CANADA, AMD BALANCES IN BOTH TAXABLE AND TAX-EXEMPT
INSTITUTION-ONLY MONEY MABKET MUTUAL FUNDS. EXCLUDES AMOUNTS HELD HY DEPOSITORY INSTITUTIONS, THE U.S. GOVERNMENT, MONEY
MARKET FUNDS, AND FOBEIGN BANKS AND OFFICIAL INSTITUTIONS. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS
TU& ESTIMATED AMOUNT OF OVERNIGHT BPS AMD EURODOLLARS HELD BY INSTITUTION-ONLY MONEY MARKET MUTUAL FUNDS.
CONSISTS OF M3 PLUS THE NOlJBANK PUBLIC HOLDINGS OF U.S. SAVINGS BONDS, SHORT-TERM TREASURY SECURITIES, COMMEBCIAL
PAPER AND BANKERS ACCEPTANCES, NET OF MONEY MARKET MUTUAL FUND HOLDINGS OF THESE ASSETS*
DEBT OF DOMESTIC MONFINANCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MABKET DEBT OF THE UNITED STATES GOVERNMENT,
STATE AND LOCAL GOVERNMENTS AND PRIVATE MOMFIMAMCIAL SECTORS. PRIVATE DEBT CONSISTS OF CORPORATE OOMDS0 MORTGAGES,
CONSUMER CREDIT (INCLUDING BANK LOAMS), OTHER BANK LOANS, COMMERCIAL PAPER, BANKERS ACCEPTANCES AND OTHER DEBT
INSTRUMENTS. THE DATA ARE DERIVED FkOA THE ^EOEUkL ktSERVE BOARD'S FLOW OF FUMDS ACCOUNTS. ALL DATA ON DEBT OF DOMESTIC
NONFINANCIAL SECTORS ARE PRESENTED IN MONTH-AVERAGE FORM, h^kLl^ED BY AVERAGING flONTH-END LUV£LS OF ADJACENT MONTHS.' 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 *UNDS STATISTICS CONTAINED
IN THE FEDERAL B&S&RV& HlZLUkSES Z. 7 AMD Z.I. IN THOSE RELEASES, PUBLISHED LEVELS OF CREDIT MARKET DEBT ABE MEASUBED ON
A UUARTEB-iSND BASIS AMD INCLUDE DISCONTINUITIES.




H.6<90*
13

COMPONENTS OF THE MONEY STOCK
BNMonS Of OOWSfSj SSaSOnaJIJf

Othsr
Date

Cunvncy4

Tvavstars
chocks'

Oamand

ohackabte

Nontram
marts
In MS
InMf*

at

rings dspoari
at
thrift

total

banks

8mi M tkns dapoiirts*
at
at
thrift
oommardaJ
total
banks

Larawtknadapoiirts*
at
banks

at
thrift

total

19

167.7

5.9

266.4

171.5

1918.4

621.0

124.0

176.3

300.3

382.7

495.6

878.3

270.6

155.1

425.6

OCT.
HOV.
DEC.

168.7
169.8
170.6

5.9
5.9
5.9

266.0
267.8
271.5

173.7
176.7
178.6

1924.6
1931.3
1939.9

626.8
629.8
634.6

124.4
124.8
124.5

177.9
179.0
179.1

302.3
303.7
303.6

382.0
382.2
384.1

493.7
493.7
496.2

875.7
876.0
880.3

273.9
276.7
279.1

155.9
156.3
157.3

429.7
432.9
436.5

1986-JAM.
FEB.
BAR.

171.9
172.9
173.9

5.9
5.9
6.1

268.9
269.2
273.2

180.5
183.1
185.2

1942.7
1946.6
1954.0

654.6
663.8
670.2

124.7
125.0
125.6

179.3
179.9
181.2

304.0
304.9
306.9

386.6
388.1
389.0

499.4
502.9
505.7

885.9
891.0
894.7

289.7
291.5
287.1

158.2
159.7
163.4

447.9
451.3
450.5

APR.
BAI
JUNE

174.4
175.8
176.7

1>• 1

275.7
281.6
284.9

189.9
195.1
199.0

1976.0
1991.0

671.6
665.7
668.3

126.6
129.0
130.9

184.8
189.5
194.1

311.4
318.5
325.0

388.0
384.9
381.7

507.9
506.3
503.9

895.9
891.2
885.6

287.1
281.5
280.5

165.0
164.9
164.6

452.1
446.4
445.1

JULI
AUG.
SEPT. P

177.5
179.0
179.8

i
1

288.3
291.8
292.0

203.9
210.6
215.1

2023.0
2036.0
2047.2

676.0
676.1
684.1

133.4
136.8
140.9

197.7
200.5
203.1

331.0
337.3
343.9

380.0
376.0
372.6

503.7
501.3
499.1

883.7
877.3
871.7

280.0
281.6
281.0

165.7
166.0
165.7

445.7
447.6
446.7

1985-SEPT.

(

h

NBBK ENDING

)

1986
SEPT. 1
8
15
22
29 P

179.6
179.2
179.2
180.0
180.4

293.7
294.6
290.4
292.3
291.3

213.1
215.1
214.7
216.0
215.5

138.3
139.3
140.3
141.6
142.2

374.7
374.2
373.2
371.8
371.1

282.2
281.3
281.6
281.3
279.9

OCT.

180.5

296.3

218.1

143.7

370.4

278.3

6 P

1/

CUBBEMCI OUTSIDE THE U.S. TRBASURI, FEDERAL RESSRfE BARKS AND VAULTS OF COHBEBCIAL BANKS. SICLUDES THE BSTIHATED
ABOUNT OF fAULT CASH HELD BI THRIFT INSTITUTION TO SERVICE THEIR OCD LIABILITIES.
2/ OUTSTANDING AflOUMT OF U.S. DOLLAR-DBNOBINATBD TRAVELERS CHECKS OF NOMBANK ISSUERS. TRAVELERS CHECKS ISSUED BI DEPOSITORI
INSTITUTIONS ARE INCLUDED IN DEBAND DEPOSITS.
3/ DEBAND DEPOSITS AT COBBERCIAL BAHKS AND FOREIGN RELATED INSTITUTIONS OTHER THAN THOSE DUB TO DOBBSTIC BANKS, THE U.S. GOVERNBENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEiiS IN THE PROCESS OF COLLECTION AND WEDEBAL RBSERVB FLOAT.
EXCLUDES THE ESTIBATED AflOUMT OF DBHAND DEPOSITS HELD AT COBBERCIAL BANKS BI THRIFT INSTITUTIONS TO SERVICE THEIR OCD
LIABILITIES.
4/ CONSISTS OF MOB AND ATS BALANCES AT ALL DBPOSITORI INSTITUTIONS, CREDIT UNION SHARB DRAFT BALANCES AND
DBHAND DEPOSITS AT THRIFT INSTITUTIONS. OTHER CHECKABLE DEPOSITS SEASOHALLI ADJUSTED EQUALS THE DIFFERENCE BBTNEBN THE
SEASONALLI ADJUSTED SUB OF DEflAHD DEPOSITS PLUS OCD AHD SEASONALLI ADJUSTED DBflAND DEPOSITS.
5/ SUB OF OVERNIGHT RPS AND OVERNIGHT EURODOLLARS, HONEI BARKBT FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER),
NBDAS, AND SAVINGS AND SHALL TIflB DEPOSITS, LESS THE CONSOLIDATION ADJOSTHENT THAT REPRESENTS THE ESTIBATBD ABOUNT OF
DBBAND DEPOSITS AND VAULT CASH HELD BI THRIFT INSTITUTIONS TO SERVICE THEIR TIHB AND SAVINGS DEPOSITS LIABILITIES.
6/ SUB OF LARGE TIHB DEPOSITS, TERB RPS AND TBRfl EURODOLLARS OF O.S. RESIDENTS, BONEI BARKBT FUND BALANCES {INSTITUTIONOHLI), LESS A CONSOLIDATION ADJUSTBEMT THAT REPRESENTS THE BSTIBATED ABOUNT OF OVBRHIGUT RPS AND EURODOLLARS HELD BI
INSTITUTION-OHLI HOME! BARKET FUNDS.
7/ SAVINGS DEPOSITS EXCLUDE BBDAS.
8/ SHALL DBNOBINATIOH TIHB DEPOSITS—IHCLUDIMG RETAIL R P S — ARE THOSE ISSUBD IN AHOUNTS OF LESS THAN $100,000. ALL
INDIVIDUAL RETIRBBENT ACCOUNTS (IRA) AND KEOGH ACCOUNTS AT COHflERdAL BANKS AND THRIFTS ARE SUBTRACTED FROB SHALL
TIflB DEPOSITS. ,
9/ LARGE DENOHINATION TIHE DEPOSITS ARE THOSE ISSUED IN AHOUNTS OF $100,000 OR BORE, EXCLUDING THOSE BOOKED AT
INTERNATIONAL BANKING FACILITIES.
10/ LARGE DENOHINATION TIHE DEPOSITS AT COHHERCIAL BANKS LESS THOSE HELD BI HOMEY HARKET HUTUAL FUHDS,
DEPOSITORI INSTITUTIONS AMD FOREIGN BANKS AMD OFFICIAL INSTITUTIONS.




H.6 (508)
Table 4

COMPONENTS OF LIQUID ASSETS AND DEBT
Billions of dollars, seasonally adjusted

Date

1/
1/
\/

Non-M3 components of L
bankers acceptances3
short-term treasury
securities1

commercial paper1

Debt components4
federal debt
non-federal debt

77.2
78.0

27tt.3
281.6

43.6
4J.2

182.9
187.2

1504.5
1512.0

4942.0
4990.0

OCT.
80V.
DSC.

78.5
79.0
79.5

282.1
300.7
308.4

43.9
43.1
41.1

192.5
196.4
209.5

1521.6
1551.0
1587.Q

5039.3
5092.5
5182.0

198b-JAM.
HAfi.

79.9
80.5
81.1

305.5
307.7
J00.2

41.5
42.1
41.6

210.6
209.2
209.5

1607.9
1620.8
1628.2

5259.6
5290.2
5326.3

APB.
HAY
JUNE

81.8
82.6
83.4

298.9
305.7
300.5

41.0
40.1
40.3

203.0
206.7
210.6

1641.1
1664.6
1691.5

5371.Q
5414.9
5454. 1

JULY
AUG. P

84.3
85.3

296.0
295.8

39.4
36.7

212.3
218.3

1712.4
1724.9

5558.Q

1985-AUG.
SEPT.

1/

savings bonds

5496.1

CONSISTS OF U . S . TREASURY BILLS AJiD COUPONS WITH HE* AIM IMG hkTU SLIT IKS OF LESS THAM 12 HQUTUS &KLD BY OXHEJ2 THAU DBPOSITOBY
INSTITUTIONS, FEDERAL RESERVE BANKS, HONEY HAJiKJiT HUTUAL FUNDS AND FOREIGN ENTITIES.
NET OF BANKEfiS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOBBIGN OFFICIAL INSTITUTIONS, THE FEDERAL
HOHE LOAN BANK SYSTEH AND HONEY HA&KET HUTUAL FUHDS.
TOTAL COHHBfiCIAL PAPEfi LESS COHHEfiCIAL PAPE& HELD BY AOtiEX HAfiKET HUTUAL WOUDS.
DEBT DATA ABE ON A HONTULY AVERAGE bkSIS^
DERIVED BY AVERAGING END-OF-HONTQ LEVELS OF ADJACENT HONTHS, AND HAVE BEEN
ADJUSTED TO BEHOVE DISCONTINUITIES.




H.6 (508)
Table 5

COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT
Billions of dollars, not seasonally adjusted
Nontransactions components

Other checkable deposits

General
purpose and
broker/dealer
money market
funds

Currency1

Travelers
checks2

Demand
deposits3

167.6 '

6.2

265.0

119.0

51.3

170.3

1912.3

622.9

50.5

14.0

176.7

OCT.
NOV.
DEC.

168.4
170.7
173.1

5.9
5.6
5.5

265.6
269.0
281.3

119.8
122.6
125.8

52.5
53.8
54.4

172.3
176.4
180.1

1922.0
1928.0
1934.7

628.5
635.0
639.2

50.9
52.5
53.3

14.3
13.9
17.0

177.0
176.8
176.5

1986-JAI.
FEB.
MAR.

170.5
170.6
172.3

5.5
5.6
5.8

275.1
262.0
267.1

128.1
126.8
129.3

54.3
54.2
56.0

182.4
181.0
185.3

1945.1
1951.8
1963.9

653.5
662.5
668.4

50.1
52.4
51.2

18.8
16.1
16.4

177.7
181.0
186.2

APR.
MAI
JUHE

173.6
175.8
177.4

5.8
5.9
6.5

278.7
276.7
285.6

134.8
132.8
136.6

59.9
60.5
63.0

194.7
193.4
199.6

1978.9
1988.8
2003.6

668.4
66d.O
666.8

51.0
51.5
49.7

17.5
17.5
16.5

191.4
193.2
197.3

JOLT
A06.
SEPT. P

179.1
179.9
179.6

7.2
7.3
6.9

290.0
288.9
290.7

139.0
142.8
146.8

64.5
65.9
66.9

203.5
208.7
213.8

2024.6
2033.8
2040.3

668.3
676.0
686.2

54.4
56.9
54.6

17.3
17.0
17.2

199.7
200.3
202.2

287.2
297.7
294.4
286.5
28J.7

143.4
149.1
148.5
146.2
143.7

65.7
68.7
67.9
66. 1
64.9

209.1
217.8
216.4
212.3
208.6

57.0
55.4
54.6
54.4
53.7

18.9
16.4
16.2
17.0
18.7

198.9
198.5
200.6
204.5
205.4

297.4

149.8

69.0

218.8

54.1

18.6

205.3

Date

1985-SEPT.

at commercial
banks4

at thrift
institutions*

total

(nM2*

in M3 only7

Overnight
RPs«

Overnight
Eurodollars9

MEEK ENDING:
1986-SEPT.

OCT.

1/
2/
3/
4/
5/
6/
7/
8/
9/

1
8
15
22
29 P

179.4
180.8
179.9
179.3
178.4

6 P

180.9

i

CURRENCI OUTSIDE THE U.S. TREASURI, FEDERAL RESERVE BANKS AND THE FAULTS OF COMMERCIAL BANKS. B1CL0DBS THE ESTIMATED
AHOUNT OF FAULT CASH HELD BI THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
OUTSTANDING AAOUNT OF U.S. DOLLAR-DEUOfllNATED TRAVELERS CHECKS OF NONBANK ISSUERS. TRAVELERS CHECKS ISSUED BI DEPOSITORY
INSTITUTIONS ARE INCLUDED IN DEHAND DEPOSITS.
DEB AMD DEPOSITS AT COHHERCIAL BANKS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERNMENT AND FOREIGN BANKS AND
OFFICIAL INSTITUTIONS, LESS CASH ITEflS IN THE PROCESS OF COLLECTION AND F.R. FLOAT, LESS THE ESTIMATED AHOUNT OF DEHAND
DEPOSITS HELD AT COHHERCIAL BANKS BI THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.
CONSISTS OF NOR AND ATS BALANCES AT COHHERCIAL BANKS, U.S. BRANCHES AND AGENCIES OF FOREIGN BANKS, AND EDGE ACT
CORPORATIONS.
CONSISTS OF NOH AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND HUTUAL SAVINGS BANKS, CREDIT ONION SHARE
DRAFT BALANCES, AND DEHAND DEPOSITS AT THRIFTS.
SUH OF OVERNIGHT RPS AND EURODOLLARS, HONBI MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER), MHDAS AND SAVINGS
AND SHALL TIME DEPOSITS LESS THE ESTIHATED AMOUNT OF DEHAND DEPOSITS AND VAULT CASH HELD BI THRIFT INSTITUTIONS TO SERVICE
THEIR TIME AND SAVINGS DEPOSIT LIABILITIES.
SUH OF LARGE TIHE DEPOSITS, TEflfl RPS AND EURODOLLARS OF U.S. RESIDENTS, HONEI MARKET FUND BALANCES (INSTITUTION-ONLI), LESS A
CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AMD EURODOLLARS HELD BI INSTITUTIO1HONLI
HONEI MARKET MUTUAL FUNDS.
CONSISTS OF OVERNIGHT AND CONTINUING CONTRACT HPS ISSUED BI COMMERCIAL BANKS TO OTHER THAN DEPOSITOR! INSTITUTIONS AND
HONEI MARKET HUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER).
ISSUED BI FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE TO U.S. RESIDENTS OTHER THAN DEPOSITORY INSTITUTIONS AND
HONEI MARKET HUTUAL FUNDS (GENERAL PURPOSE AND BttOKEtf/DEALEfl)*




H.6 (508)

Table 5-contlnued

COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT
Billions of dollars, not seasonally adjusted
Savings deposits1

Money market deposit accounts
Date

at

at

commercial

thrift
institutions

banks

total

at

at

commercial
banks

thrift
institutions

Small denomination time deposits2
total

at

at

commercial
banks

thrift
Institutions

total

Large denomination time deposits3
at

at

commercial
banks4

thrift
institutions

total

321.3

178.5

499.8

123.7

175.4

299.1

385.1

495.4

880.5

272.6

155.1

427.6

OCT.
NOT.
DEC.

324.3
329.2
332.4

179.8
180.3
179.6

504.1
509.5
512.0

124.6
124. J
123.5

178.3
179.0
178.3

302.9
303.3
301.8

384.8
384.2
384.8

496.5
496.4
497.6

881.3
880.7
882.5

276.3
278.2
280.9

156.2
157.1
157.8

432.5
435.3
438.7

1986-JAN.
FEB.
BAB.

336.7
337.0
340.4

179.0
179.4
180.2

515.7
516.3
520.5

123.9
123.6
124.9

178.8
179.1
181.6

302.7
302.7
306.5

386.5
387.1
387.2

502.6
504.6
504.6

889.1
891.7
891.8

288.6
290.4
287.7

159.0
160.7
163.2

447.6
451.1
450.9

APR.
J01£

344.8
348.6
355.2

180.4
182.2
185.2

525.2
530.8
540.4

127.2
129.5
132.2

185.8
190.3
194.8

312.9
319.9
327.0

384.5
382.3
380.6

505.1
502.4
501.0

889.6
884.7
881.6

283.6
280.8
278.8

164.1
164.4
164.1

447.7
445.2
443.0

JULI
AUG.
SEPT. P

358.9
363.5
368.0

187.2
189.8
190.7

546.2
553.3
558.7

135.1
137.3
140.6

196.6
199.4
202.1

333.7
336.7
342.7

379.8
377.9
375.1

502.8
500.6
498.9

882.6
878.6
874.0

279.0
281.9
283.1

164.7
165.9
165.7

443.6
447.8
448.8

1985-SEPT.

BAI

NBSK AIDING
1986
SEPT. 1

29 P

365.3
368.1
369.1
367.6
367.3

138.1
139.5
140.2
141.0
141.7

377.2
376.8
375.7
374.5
373.6

283.9
282.8
282.8
283.4
283.4

6 P

370.0

144.4

373.0

282.1

8
15
22

OCT.

1/
2/
3/
4/

SAYIHGS DEPOSITS EXCLUDE HHDAS.
SBALL DENOHINATIOH TIHE DEPOSITS — INCLUDING BETAIL EPS — ABE THOSE ISSUED IN A MOO ITS OF LESS THAN $100,000. ALL
INDIVIDUAL BETIBBHENT ACCOUNTS (IBA) AND KEOGH ACCOUNTS AT COHHBBCIAL BANKS AND THRIFTS ABE SUBTBACTED FHOH SHALL
TIAE DEPOSITS.
LABGE DENOHINATION TIHE DEPOSITS ABE THOSE ISSUED IN AHOUNTS OF $100,000 OB HOBE, EXCLUDING THOSE BOOKED AT INTERNATIONAL
BANKING FACILITIES (IBFS).
LABGE DSNOHINATION TIHE DEPOSITS AT COHHEBCIAL BANKS LESS THOSE HELD BI HONET HABKET HUTUAL FUNDS, DEPOSITOBI
INSTITUTIONS AND FOflEIGN BANKS AND OFFICIAL INSTITUTIONS.




H.6 (506)
Table 5-continued

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

Institution
only money
market funds

at commercial
banks

62.3

1985-SEPT.

at thrift
Institutions

total

Term
Eurodollars*

Savings
bonds

Non M3 Components of L
Short-term
Bankers
treasury
acceptances4
securities'

Components of Debt
Commercial
paper*

Federal debt*

Non-Federal4
debt

31.2

27.5

58.6

78.9

78.0

282.4

43.9

187.8

1506.9

4975.4

30.5
31.7
32.1

29.2
31.6
33.9

59.8
63.3
66.0

78.2
78.4
76.7

78.5
79.0
79.6

281.8
296.9
305.6

43.8
43.3
42.1

193.4
199.1
204.6

1515.6
1544.2
1583.7

5029.6
5084.9
5178.6

DEC

63.3
64.5
64.6

19U6-JAN.
FEB.
HAR.

67.3
67.7
70.2

33.7
35.8
37.2

35.1
34.7
34.4

68.8
70.6
71.6

76.0
79.2
82.7

80.0
80.5
81.1

305.3
308.6
306.4

42.3
41.9
40.7

207.5
208.8
207.9

1606.7
1621.0
1633.3

5254.8
5273.1
5298.1

APR.
JUHE

74.1
76.1
75.0

35.6
35.5
33.9

35.9
38.7
41.6

71.5
74.2
75.5

81.5
79.8
80.1

81.8
82.6
83.4

301.5
299.5
297.8

39.9
39.6
39.8

205.2
207.0
213.3

1644.6
1660.7
1678.9

5340.7
5387.4
5431.8

JULX
AUG.
SEPT. P

77.5
80.8
84.4

3^.2
34.1
35.7

42.0
41.7
42.7

75.2
75.8
78.4

78.8
78.7
81.6

84.2
85.2

297.0
299.6

39.2
37.3

214.0
215.6

1695.6
1713.3

5477.3
5538.4

29 P

82.9
83.3
84.5
85.5
84.7

35.2
35.1
36.3
36.3
35.7

6 P

82.5

31.9

OCT.
NOV.

HAI

.

WEEK ENDING:

1986-SBPT. 1
8
15
22
OCT.

1/
2/
3/
4/
5/
6/

TERM EPS ABE THOSE WITH OBIGINAL MATURITIES CHEATER THAN ONE DAI, EXCLUDING CONTINUING CONTRACTS AND RETAIL BPS. INCLUDES
A RELATIVELI SHALL AflOONT OF OVERNIGHT RPS AT THRIFT INSTITUTIONS.
TERM EURODOLLARS ABE THOSE WITH ORIGINAL HATUBITIES GREATER THAN ONE DAI. CONSISTS OF THOSE ISSUED TO U.S. RESIDENTS BI
FOBEIGN BRANCHES OF U.S. BANKS WORLDWIDE AND BY ALL BANKING OFFICES IN THE UNITED KINGDOll AND CANADA. EXCLUDES THOSE HELD
BI DEPOSITORI INSTITUTIONS AND HONEI HARKET H0TUAL FUNDS.
CONSISTS OF U.S. TBEASURX BILLS AND COUPONS WITH REMAINING MATURITIES OF LESS THAN 12flONTHSHELD BI OTHER THAN DEPOSITORI
INSTITUTIONS, FEDERAL RESERVE BANKS, HONEI HAHKJST HUTUAL FUNDS, AND FOREIGN ENTITIES.
NET OF BANKERS ACCEPTANCES HELD BI ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOBEIGN OFFICIAL INSTITUTIONS, THE TEDEBkL
HOflE LOAN BANK SISTEfl AND flONEI HARKET HUTUAL FUHDS.
TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BI HON£I HABKET HUTUAL FUNDS.
DEBT DATA ARE ON A HONTHLI AVERAGE BASIS, DERIVED BI AVERAGING END-OF-HONTH LEVELS OF ADJACENT MONTHS, AND HAVE BEEN
ADJUSTED TO REHOVE DISCONTINUITIES.




H.6 (508)
Table 6

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

Date

foreign
commercial
banks

foreign
official
institutions

Time and
savings
deposits
due to foreign
commercial
banks and
foreign official
institutions

demand
deposits at
commercial
banks

balances at
Federal
Reserve
Banks

note balances
at commercial
banks
and thrift
institutions

8.5

11.1

10.7
17.9

I.3
I.3
I.4

58.2
58.7
59.2

79.0
79.5
80.9

8.4
8.4
8.3

145.7
146.6
148.4

20.5
21.0
12.4

34.5
31.7
19.2

I.3
I.4
I.4

60.7
62.5
64.2

81.9
82.9
86.4

8.6
8.7
9.0

151.2
154.2
159.5

13.6
18.7
12.6

21.5
26.5
18.9

I.5
I.5

11.7

68.4
69.5
70.1

90.4
91.2
92.1

9.8
10.1
10.1

168.5
170.8
172.2

3.8
3.2

13.2

5.6

14.6

20.6
14.2
23.8

1.6
1.7
1.7

70.8
71.1
71.4

92.9
93. 4e
93. 8e

10.2
10.3©
10.5e

173.9
174.8e
175. 8e

2.0
3.5
3.8
6.6

9.7
4.8
4.9

OCT.
MOV.
DEC.

8.2
8.1
8.5

1.9
2.1
1.9

8.3
8.4
8.3

3.0
3.0
3.4

3.1
2.8
3.4

2.4
4.8

1986-JAM.
FEB.
BAB.

8.8
8.3

2.0
1.9
1.8

8.0
7.8

7.6

3.6
3.2
3.3

8.7

1.9

8.8

7.5
7.4
7.3

4.2
3.0
3.5
3.6
3.0
3.6

2.8

9.1
8.9
9.2

2.0
1.8
1.9

7.2
7.2
7.2

9.2
9.7
9.0

7.2
7.1
7.1
7.1
7.2
7.2

10.5
7.5
3.4

3.7
4.8
2.9

8.1

•

MEEK EMDIM6:

1986

23 P

9.1

1.7
1.7
1.8
2.0
1.9

6 P

9.6

1.8

SEPT. 1
8
15
22
OCT.




8.8

3.5
4.5

3.8
2.7
4.7

total

144.3

13.4

JOLI
AUG.
SfiPT.P

money
market
mutual funds

8.3

4.3

8.8

thrift
institutions

78.1

3.4

1.8
1.8

commercial
banks

57.8

8.2

APfi.
HA I
JUNE

time
and savings
deposits at
commercial
banks

1.3

2.1

8.4

total demand
deposits and
note and
FR balances

21.1

8.1

1985-SEPT.

IRA and Keogh Accounts

U.S. government deposits

9.1

23.3
25.2

14.4
11.8
13.2
33.8
37.0

4.3

19.3

28.3

11.7

1.7

1.7
1.7
1.7
1.6

H.6(508)
Supplementary Table 1

Levels and Annual Growth Rates off M1 Using Standard1, Concurrent2,
and Experimental Alternative9 Seasonal Adjustment Procedures
Monthly average

Standard

Levels In billions of dollars
Experimental
Concurrent
Alternative

Annual growth rates in percent
Experimental
Concurrent
Alternative

CtanHorH

9*9

10*3

596*2

595*9

597*4

10 *8

AUGUST

604*8

603*6

604*5

17 *3

15*5

1 4.3

SEPTEMBER

611*5

610*6

610*0

13 *3

1 3*9

10*9

OCTOBER

614*2

613.2

611 *7

5 *3

5*1

3*3

NOVEMBER

620*1

618*8

617*5

1 1*5

1 1 ,0

11.4

DECEMBER

626*6

625*9

624*6

12 *6

13*8

i 3* 8

627*2

628*1

626*1

1 *1

4*2

2*9

FEBRUARY

631 *0

632*0

63211

7 *3

7*5

11*5

MARCH

638*4

640*4

641 *4

14 *1

15*9

17/7

APRIL

646*1

647*9

646*6

14 *5

14*1

9*7

MAY

658*6

659*2

660*2

23 *2

20*9

25*2

JUNE

666*8

666*9

669*5

14 *9

14*0

16*9

JULY

676*1

675*6

676*5

16 *7

15*7

12*5

AUGUST

637*8

686*0

688*1

20 *8

18*5

20*6

SEPTEMBER

693*3

692*1

691 *8

9 *6

10*7

6*5

1985--JULY

1986--JANUARY

1. Standard monthly seasonal factors are derived at the beginning of each year by applying an X-11/ARIMA-based procedure to data through the end of the previous year.
2. Concurrent-monthly seasonal factors are derived each
month by applying an X-11/ARIMA-based procedure to data
through that month.




3. Alternative monthly seasonal factors are derived using an
experimental model-based procedure. This procedure uses
a combination of statistical regression and time series modeling techniques to construct seasonal factors that are more
sensitive than standard factors to unique characteristics of
each series. These characteristics include fixed and evolving seasonal patterns, trading day effects, within-month seasonal variations, holiday effects, outlier adjustments, special
events adjustments, and serially correlated noise components.

SPECIAL SUPPLEMENTARY TABLE
Monthly Survey of Selected Deposits and Other Accounts
At All Insured Commercial Banks and All Mutual Savings Banks1
August 27, 1986 and September 24, 1986
(not seasonally adjusted)

Liability Categories

Amount Outstanding ($mil)|
August 27
September 24

Average Rate Paid (Z)
September 24
August 27

Number of Issuing Banks
August 27 September 24

NOW accounts2

137,084

137,420

5.25

5.15

13,623

13,596

Money market deposit accounts3

365,316

367,343

5.48

5.32

13,190

13,159

Savings accounts^

138,124

141,756

5.34

5.30

13,563

13,611

Interest-bearing time deposits with
balances of less than $100,000
with original maturities of: 5
7 to 31 days

5,913
(425)

5,878
(410)

5.67

5.48

8,919

8,686

32 to 91 days
(standard error of the estimate)

19,863
(787)

19,651
(779)

5.70

5.52

12,929

12,909

92 to 182 days
(standard error of the estimate)

138,685
(1.596)

134,578
(1.737)

5.95

5.75

13,949

13,896

73,197
(1.156)

74,855
(1.711)

6.14

5.97

13,222

13,205

over 1 year to 2-1/2 years
(standard error of the estimate)

84,800
(1.793)

84,483
(1,806)

6.48

6.33

13,690

13,666

2-1/2 years and over
(standard error of the estimate)

122,434
(2,461)

121,361
(2,394)

6.60

6.67

13,538

13,507

All IRA/Keogh Plan deposits6
(standard error of the estimate)

71,125
(363)

71,635
(439)

N.A.

N.A.

13,360

13,432

1,686
(269)

1,575
(310)

5.53

5.34

2,565

2,471

183 days to 1 year

Retail repurchase agreements'

Liability Categories
NOW accounts2

state-cntartered Mutual Savings Bank 8
Number of Issuing Banks
Average Rate Paid (Z)
Amount Outstanding ($mll)
September 24
September 24 August 27
August 27
August 27
September 24
4,499

4,515

5.32

5.22

307

308

Money market deposit accounts3

31,713

31,943

5.81

5.62

336

337

Savings accounts

27,983

28,362

5.50

5.48

347

352

Interest-bearing time deposits with
balances of less than $100,000
with original maturities of: 5
7 to 31 days
(standard error of the estimate)

150
(14)

157
(18)

5.72

5.67

96

100

32 to 91 days
(standard error of the estimate)

1,417
(265)

1,295
(186)

5.82

5.79

285

286

92 to 182 days
(standard error of the estimate)

19,462
(481)

19,310
(445)

6.28

6.07

340

340

183 days to 1 year
(standard error of the estimate)

12,400
(358)

12,447
(354)

6.56

6.38

342

342

over 1 year to 2-1/2 years
(standard error of the estimate)

13,165
(381)

12,475
(295)

6.90

6.67

333

333

2-1/2 years and over
(standard error of the estimate)

20,720
(368)

20,988
(358)

7.18

7.07

347

347

All IRA and Keogh Plan deposits6
(standard error of the estimate)

11,932
(280)

11,847
(290)

N.A.

N.A.

346

345

Retail repurchase agreements7
(standard error of the estimate)

87
(39)

6.00

5.82

12

12

.

82

(37)

l! Estimatesnare*based on data collected by the Federal Reserve from a stratified random sample of about 550 banks
^ A l ^ J a n i a ^ i ^ W S e ^ n t e r e s t rate ceilings ware removed from all NOW accounts. Beginning with the January 1986
data the NOW account category includes all NOW accounts, Including those accounts which were subject to a 5.25 percent regulatory interest rate restriction prior to January 1, 1986. Estimates for this category are based on reports
of deposits. The NOW account rate is reported as a simple annual rate.
3. Money market deposit accounts (MMDAs)--Deposits with no required minimum maturity but institutions must reserve
the right to require at least seven day's notice prior to withdrawal, no restrictions on depositor eligibility, or
limitations on the amount of interest that wvj be paid; such accounts may allow up to six transfers per month, no
more than three of which may be draft and may permit unlimited withdrawals by mall, messenger, or in person.
Estimates for this category are based on reports of deposits. The MMDA rate is reported as a simple annual rate.
4. Savings deposits that, because of restrictions on transactions, do not meet the definition of an MMDA.
Estimates for this category are based on reports of deposits. The savings account rate is reported as a
5 ™A11 interest-bearing time certificates and open account time deposits with balances of less than $100,000,
including those held in IRAs and feogh Plan deposits. With the exception of the 7-31 and 32-91 day deposit
rates, which are reported as simple annual rates, time deposit rates are annual effective yields reflecting the
method of compounding reported by the individual institution*.
6. All IRA/feogh Plan time deposits regardless of si«e, type of instrument in which held, or Interest rate paid.
7. Retail repurchase agreements are in denominations of less than $100,000 with maturities of less than 90 days
that arise from the transfer of direct obligations of, or obligation* fully-guaranteed as to principal and interest
by, the U.S. Government or an agency thereof.