Full text of H.6 Money Stock Measures : October 23, 1997

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

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

f*Al Rt^V

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

6

Forreteaseat4:30p.m. EastemTme
October23,1997

Billions of dollars
Date

•

M11

M22

M33

L4

DEBT5

Seasonally adjusted

A

#

#A

#

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

5720.9
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. p

1079.7
1080.7
1075.4
1065.3
1062.8
1063.1
1062.0
1069.2
1060.3

3834.6
3851.6
3868.8
3888.1
3887.2
3902.2
3914.1
3950.3
3972.0

4940.0
4978.9
5012.0
5052.6
5060.6
5081.5
5126.0
5178.0
5217.9

6083.8
6133.2
6179.2
6236.0
6255.6
6279.3
6314.5
6389.2 p

14526.2
14584.0
14645.7
14715.5
14759.6
14785.8
14835.5
14887.3 p

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

1996-Jan.
Feb.
Mar.
Apr.
MayJune
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. p

1085.9
1066.5
1067.4
1071.8
1051.8
1062.4
1063.5
1067.2
1057.2

3836.2
3835.7
3873.3
3905.0
3869.9
3899.8
3919.0
3953.8
3964.2

4945.5
4969.9
5018.6
5060.0
5042.6
5077.8
5123.8
5180.0
5205.0

6096.7
6128.2
6195.5
6247.6
6232.3
6264.0
6304.4
6389.3 p

14507.4
14546.5
14619.4
14684.4
14719.0
14748.3
14786.1
14843.4 p

Footnotes appear on the following page
p

preliminary




Page 2
H.6 (508)
Table 2

MONEY STOCK AND DEBT MEASURES

Percent change at seasonally adjusted annual rates
M2

M3

-1.1

7.2

10.7

3.5

5.3

8.2

4.2
4.4

1997

6 Months f r o m Mar.

1997 TO S e p .

1997

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

1996 TO S e p .

1997

-3.0

5.4

8.3

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 13 , 1997
from t h i r t e e n weeks e n d i n g :
J u l y 1 4 , 1997 ( 1 3 w e e k s p r e v i o u s )

-0.3

5.9

8.9

00
<N

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

1.

DEBT1

M1

Apr.

14,

1997

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

-2.5

4.9

7.9

Oct.

14,

1996

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

-3.0

5.1

8.1

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, May 1997 to August 1997, February 1997 to August 1997,
and August 1996 to August 1997, 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 nonbank issuers; (3) demand
deposits at all commercial banks other than those due to depository institutions, the U.S. government, and foreign banks and official institutions, less cash items in the
process of collection and Federal Reserve float; and (4) other checkable deposits (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 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 retail money market mutual funds. Excludes individual retirement account (IRA) and Keogh balances at depository institutions and money
market funds. Seasonally adjusted M2 is computed by summing savings deposits, small-denomination time deposits, and retail money fund balances, each seasonally
adjusted separately, and adding this result to seasonally adjusted M1.
...
.
>.
,,
„
Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more), balances in institutional money funds, RP liabilities (overnight and term) issued by all
depository institutions, and Eurodollars (overnight and term) held by U.S. residents at foreign branches of U.S. banks worldwide and at all banking offices in the United
Kingdom and Canada. Excludes amounts held by depository institutions, the U.S. government, money funds, and foreign banks and official institutions. Seasonally adjusted
M3 is calculated by summing large time deposits, institutional money fund balances, RP liabilities, and Eurodollars, each seasonally adjusted separately, and adding this
result to seasonally adjusted M2.
Consists of M3 plus the nonbank public holdings of U.S. savings bonds, short-term Treasury securities, commercial paper and bankers acceptances, net of money market
mutual fund holdings of these assets.
,
Debt: 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.
Note: Updated current and historical data for aggregate and component series in the H.6 statistical release are available each week via the web site of the Federal Reserve
Board (http://www.bog.frb.fed.us), as well as on the Economic Bulletin Board of the U.S. Commerce Department. Monthly data are available back to January 1959, and
weekly data are available back to January 1975 for most series. For information on how to access the Commerce bulletin board, call (202) 482-1986 or toll-free
(800) STAT-USA (800-782-8872).




Page 3
H.6 (508)
Table 3

MONEY STOCK MEASURES

Billions of dollars
Seasonally adjusted

Period ending

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

1062.9
1062.6

1062.7
1061.2

1058.8
1061.6

3898.1
3900.2

3912.7
3915.7

3914.0
3919.7

5082.0
5087.2

5118.5
5127.2

5127.1
5134.6

4
11
18
25

1063.1
1063.3
1063.6
1064.1

1062.3
1063.5
1065.2
1067.4

1070.7
1063.0
1065.4
1070.4

3903.9
3908.1
3912.9
3917.4

3917.7
3923.8
3932.4
3941.0

3927.5
3933.8
3948.4
3954.2

5094.1
5101.9
5110.6
5120.2

5131.2
5139.5
5151.1
5165.0

5142.0
5154.2
5173.6
5190.2

1
8
15
22
29

1064.8
1064.8
1064.3
1064.1
1063.6

1069.6
1069.3
1066.6
1062.7
1058.2

1079.4
1061.8
1054.9
1054.7
1061.3

3923.3
3928.2
3933.6
3939.1
3944.5

3951.9
3958.5
3963.0
3968.3
3970.3

3971.3
3959.9
3966.6
3975.5
3979.2

5130.9
5141.4
5152.6
5162.8
5172.7

5182.1
5194.7
5204.8
5211.8
5216.5

5210.2
5204.6
5214.0
5218.5
5228.8

6p
13p

1063.6
1063.0

1059.4
1058.1

1066.6
1049.8

3949.8
3955.2

3977.2
3980.4

3987.6
3979.3

5181.0
5190.8

5223.9
5232.5

5234.2
5248.5

1 9 9 7 - J u l y 21
28
Aug.

Sep.

Oct.

M3

M2

M1

Not seasonally adjusted
1 9 9 7 - J u l y 21
28

1059.2
1059.0

1066.8
1062.7

1056.1
1051.3

3891.5
3894.5

3917.7
3920.0

3910.1
3894.9

5071.8
5078.5

5114.6
5124.3

5116.3
5109.0

Aug.

4
11
18
25

1060.1
1061.2
1062.6
1063.8

1061.6
1062.1
1064.7
1066.4

1076.9
1064.0
1066.4
1058.2

3900.0
3906.5
3913.5
3919.7

3918.6
3925.4
3937.4
3948.6

3940.8
3955.8
3958.2
3939.5

5087.4
5097.6
5108.4
5119.5

5126.4
5137.4
5153.5
5170.5

5149.4
5174.8
5180.6
5177.1

Sep.

1
8
15
22
29

1064.3
1064.8
1064.1
1063.8
1062.4

1065.9
1067.1
1064.7
1061.4
1055.1

1074.8
1069.1
1056.6
1044.9
1049.7

3925.4
3930.8
3936.1
3941.3
3944.9

3953.1
3961.7
3967.5
3969.3
3962.5

3958.8
3990.1
3981.6
3946.6
3931.6

5129.6
5139.8
5150.5
5160.4
5168.4

5182.4
5195.5
5206.9
5209.2
5203.2

5197.1
5227.0
5226.4
5186.2
5173.0

Oct.

6p
13p

1061.4
1060.4

1054.9
1053.0

1068.5
1048.8

3948.0
3952.3

3961.8
3962.4

3987.5
3984.0

5175.5
5185.4

5204.7
5213.0

5233.0
5259.7

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
Nontransactions components

Other checkable deposits
Currency1

Date

4.
5.
6.

7.
e

Demand deposits 3

At commercial
banks4

At thrift
institutions5

Total

In M26

In M3 only7

1996-May
June

377.7
379.9

8.7
8.7

407.2
410.7

215.6
208.7

107.9
107.7

323.5
316.4

2608.3
2626.0

1003.3
1009.4

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
2659.7
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
8.5

401.6
404.3
403.1

170.9
165.4
160.3

101.6
101.9
101.3

272.5
267.3
261.5

2754.9
2770.9
2793.3

1105.4
1127.3
1143.2

Apr.
May
June

403.7
406.1
407.7

8.3
8.2
8.0

395.6
395.7
397.2

159.7
155.6
153.7

97.9
97.2
96.4

257.7
252.8
250.1

2822.8
2824.5
2839.1

1164.5
1173.3
1179.3

July
Aug.
Sep. P

410.2
412.1
415.4

8.2
8.3
8.1

396.2
401.5
389.9

150.4
149.9
150.0

96.9
97.4
96.9

247.3
247.3
246.9

2852.1
2881.0
2911.7

1211.9
1227.7
1245.9

Week e n d i n g
1 9 9 7 - A u g . 18
25

1.
2.
3.

Travelers checks 2

411.6
412.8

8.3
8.2

400.8
404.0

147.9
149.3

96.8
96.1

244.7
245.4

2883.0
2883.8

1225.3
1236.0

Sep.

1
8
15
22
29

414.4
413.9
414.9
416.1
416.5

8.0
8.1
8.1
8.1
8.1

405.7
391.0
386.7
386.3
390.3

153.3
150.6
148.5
148.2
150.7

97.9
98.3
96.7
96.0
95.7

251.2
248.9
245.2
244.2
246.4

2891.8
2898.1
2911.7
2920.8
2917.8

1238.9
1244.7
1247.4
1243.1
1249.6

Oct.

6p
13p

416.9
417.5

8.1
8.1 e

392.2
381.5

150.5
146.0

98.9
96.6

249.4
242.6

2921.0
2929.6

1246.6
1269.2

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits.
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
Small-denomination time deposits 2

Savings deposits 1
Date

p

928.4
928.8

484.2
493.2

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

946.9
948.5
947.9

525.5
531.9
541.1

296.3
305.4
311.8

412.2
418.1
427.1

81.1
81.9
82.0

493.3
500.1
509.1

598.9
602.0
607.8

350.5
351.5
350.2

949.4
953.5
958.0

552.4
550.0
555.7

311.6
311.6
318.9

439.6
441.1
449.6

82.6
82.4
83.4

522.1
523.6
532.9

1329.9
1341.4
1357.5

614.2
615.9
619.1

346.3
345.8
343.9

960.5
961.7
963.0

561.8
577.9
591.1

324.1
329.2
338.9

466.1
471.7
483.3

84.8
85.2
85.6

550.9
556.8
568.9

375.2
375.4

1343.2
1341.1

615.6
615.9

346.1
346.0

961.7
961.9

578.2
580.9

329.3
332.9

468.1
476.0

85.2
85.0

553.3
561.0

1195.6
1204.1

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

592.5
593.6
596.1

Apr.
May
June

947.9
945.4
949.9

373.1
375.5
375.5

1321.1
1320.9
1325.4

July
Aug.
Sep. P

955.2
966.6
982.8

374.7
374.9
374.7

967.9
965.6

At
thrift
institutions
366.3
366.7

July
Aug.
Sep.

844.2
857.1
865.7

Oct.
Nov.
Dec.

Week e n d i n a
1 9 9 7 - A u g . 18
25

3.
4.

Institutional
money
funds

At .
commercial
banks
577.0
578.0

At
commercial
banks
829.3
837.4

1996-May
June

1.
2.

Retail
money
funds

Total

Total

Total
442.5
448.9

Sep.

1
8
15
22
29

964.8
976.1
984.5
988.8
983.3

374.7
370.7
372.4
377.2
378.8

1339.5
1346.8
1356.9
1366.0
1362.1

617.1
617.8
619.2
619.9
619.7

345.1
344.6
344.0
343.6
343.4

962.3
962.4
963.1
963.5
963.2

590.1
589.0
591.7
591.3
592.6

332.4
338.3
337.9
336.3
343.8

475.9
479.2
485.9
486.4
482.3

85.0
85.6
86.0
85.9
85.1

560.9
564.8
571.9
572.2
567.4

Oct.

6p
13p

992.4
997.1

373.7
373.9

1366.1
1371.0

620.1
620.6

343.7
343.9

963.7
964.5

591.2
594.1

340.8
347.7

485.3
489.4

85.3
85.6

570.6
575.0

Savings deposits include money market deposit accounts.
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




Page 6

H.6 (508)
Table 4 - continued

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

RPs 1

Date

Non-M3 Components of L

Eurodollars2

1996-May
June

202.7
195.3

54.5
95.6

166.1
186.4

Short-term
Treasury,
securities 3
452.8
470.5

July
Aug.
Sep.

194.2
192.4
194.4

95.8
96.3
98.9

186.7
186.9
187.1

Oct.
Nov.
Dec.

196.0
195.3
194.1

105.1
107.1
113.9

1997-Jan.
Feb.
Mar.

198.3
202.2
200.6

Apr.
May
June
July
Aug.
Sep. p

Savings bonds

Week e n d i n g
1 9 9 7 - A u g . 18
25

1.

Dcuirxeio
acceptances 4

Commercial paper5

Debt components 6
Federal debt

Non-Federal debt

16.7
ll.i

468.0
470.1

3761.1
3707.7

16375.2
10431.4

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

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

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

204.1
204.6
198.8

126.6
133.5
128.8

186.2
186.2
186.3

446.6
451.8
443.0

12.8
13.1
12.6

537.8
543.9
555.9

3803.2
3789.7
3776.5

10912.3
10969.9
11009.3

208.0
211.0
208.2

128.8
130.6
130.0

186.4
186.5 p

422.3
446.4 p

12.9
13.3 p

566.8
565.0 p

3779.4
3784.5 p

11056.1
11102.8 p

212.5
209.0

130.2
133.2

Sep.

1
8
15
22
29

211.1
210.5
207.8
205.5
208.5

134.5
131.0
129.7
129.0
129.9

Oct.

6p
13p

208.5
218.8

126.7
127.6

K
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.
? = 9 h t * n d t e : m l A u r °, d 0 l l a r S . l s s u e d 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
7
marKei mutual funds, and foreign entities.
f
T®l? 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

4.
5.
6.
7.

Demand
deposits 3

Nontransactions components

Other checkable deposits
At commercial
banks 4

At thrift
institutions5

Total

In M26

In M3 only7

19 96-May
June

377.5
380.4

8.6
8.9

398.7
409.3

213.1
207.6

107.3
108.0

320.4
315.6

2603.8
2625.0

1003.5
1009.1

July
Aug.
Sep.

383.7
385.8
386.8

9.1
9.0
'8.8

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

Oct.
Nov.
Dec.

388.9
392.9
397.9

8.6
8.4
8.3

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
8.2

405.5
394.7
396.2

174.8
165.6
160.9

101.8
100.2
101.1

276.6
265.8
261.9

2750.2
2769.2
2805.9

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
249.6

2833.2
2818.1
2837.4

1155.0
1172.7
1178.0

July
Aug.
Sep. p

411.3
413.4
414.3

8.7
8.8
8.4

398.0
400.1
388.9

148.8
148.1
149.0

96.8
96.7
96.6

245.6
244.8
245.6

2855.5
2886.6
2907.0

1204.8
1226.2
1240.8

Week e n d i n o
1 9 9 7 - A u g . 18
25

2.
3.

Travelers
checks 2

413.0
412.4

8.8
8.6

402.5
394.6

146.4
148.2

95.7
94.2

242.1
242.5

2891.8
2881.3

1222.4
1237.6

Sep.

1
8
15
22
29

413.9
415.5
414.2
414.0
413.4

8.5
8.5
8.4
8.4
8.4

402.1
398.1
390.4
378.9
382.6

152.7
147.4
146.7
148.8
151.2

97.6
99.6
96.8
94.9
94.1

250.3
247.0
243.5
243.7
245.3

2884.0
2921.0
2925.0
2901.7
2882.0

1238.3
1237.0
1244.8
1239.6
1241.4

Oct.

6p
13p

416.8
418.4

8.3
8.3 e

395.1
383.0

148.8
143.0

99.5
96.2

248.3
23&.1

2919.0
2935.2

1245.5
1275.7

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 haianrog
n o 1 °L!? r g e t i m e ^Posits, institutional money fund balances, RP liabilities (overnight and term) issued by depository institutions, and Eurodollars (overnight and term) of
U.O. aQQreSS66S.


e
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
Small-denomination time deposits 2

Savings deposits 1

Total

1193.7
1207.6

At
thrift
institutions
352.1
351.1

930.2
929.5

479.9
487.9

260.1
264.6

At
commercial
banks 4
369.2
373.7

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

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

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

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

1997-Jan.
Feb.
Mar.

908.9
915.4
935.1

366.5
367.1
370.5

1275.4
1282.4
1305.6

591.8
594.0
597.6

353.9
355.2
352.7

945.7
949.2
950.3

529.2
537.6
550.1

304.8
315.5
316.4

408.7
416.5
426.3

80.4
81.6
81.9

489.1
498.1
508.2

Apr.
May
June

949.4
943.7
952.7

373.7
374.8
376.6

1323.2
1318.5
1329.2

600.6
603.2
608.2

351.5
352.2
350.5

952.2
955.4
958.7

557.9
544.1
549.5

309.2
307.0
313.1

435.6
443.4
449.8

81.8
82.9
83.4

517.4
526.3
533.2

July
Aug.
Sep. P

958.5
969.9
983.9

376.0
376.1
375.1

1334.5
1346.0
1359.0

614.8
615.8
618.3

346.7
345.8
343.5

961.5
961.6
961.7

559.5
579.0
586.3

321.0
328.3
333.1

463.6
470.4
482.4

84.4
84.9
85.5

548.0
555.4
567.9

973.1
962.5

377.2
374.2

1350.3
1336.7

615.6
615.6

346.1
345.8

961.7
961.5

579.8
583.2

328.5
334.4

466.5
475.5

84.9
84.9

551.5
560.3

961.3
994.9
996.9
980.3
964.8

373.4
377.9
377.0
373.9
371.7

1334.7
1372.8
1373.9
1354.2
1336.5

616.6
617.3
618.3
618.6
618.8

344.9
344.4
343.5
342.9
342.9

961.5
961.7
961.7
961.5
961.7

587.9
586.5
589.4
586.0
583.7

330.2
332.7
335.3
331.6
333.3

475.2
478.2
484.5
485.4
481.7

84.8
85.5
85.8
85.7
84.9

560.0
563.7
570.3
571.1
566.7

997.1
1004.6

375.5
376.7

1372.6
1381.3

620.1
620.4

343.7
343.8

963.8
964.2

582.6
589.7

333.9
343.3

488.6
495.5

85.9
86.7

574.5
582.2

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 a
1 9 9 7 - A u g . 18
25

3.
4.
p

Large-denomination time deposits 3

At
commercial
banks
578.0
578.4

Date

1.
2.

Institutional
money
funds

Retail
money
funds

Sep.

1
8
15
22
29

Oct.

6p
13p

Total

At
thrift
institutions
75.8
75.7

Total
445.0
449.4

Savings deposits include money market deposit accounts.
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


http://fraser.stlouisfed.org/
#
•
Federal Reserve
Bank of St. Louis

i

#

#

#

e

#

e

#

#

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

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

Date

At commercial
banks

At thrift
institutions

Debt components 6

Non-M3 Components of L

RPs 1
Eurodollars

2

Savings bonds

Total

Short-term

Bankers
acceptances 4

Commercial
paper6

Federal debt

Non-Federal
debt

1996-May
June

153.9
149.3

50.8
51.0

204.8
200.3

93.6
94.9

186.3
186.4

443.0
462.7

10.5
11.2

471.4
467.0

3692.1
3698.1

10349.2
10405.3

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

10.7
ii.i
12.0

467.8
473.6
483.1

3708.3
3730.9
3736.1

10455.9
10491.6
10544.5

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

461.0
480.1
469.8

12.2
12.4
12.6

486.1
485.2
493.8

3740.9
3771.4
3787.9

10598.1
10646.9
10697.1

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
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
10804.0

Apr.
May
June

155.8
160.7
156.9

47.0
46.5
47.0

202.8
207.2
203.9

125.7
132.3
127.8

186.5
186.4
186.3

448.3
441.7
435.2

13.0
12.9
12.6

539.9
548.7
552.0

3810.3
3781.3
3766.2

10874.1
10937.7
10982.1

July
Aug.
Sep. P

161.3
165.3
163.5

47.4
47.8
47.1

208.7
213.0
210.6

127.2
129.5
129.1

186.3
186.3 p

421.8
450.2 p

12.1
12.6 p

560.4
560.3 p

3759.9
3774.4 p

11026.2
11069.0 p

166.0
163.6

48.2
47.4

214.2
211.0

128.2
131.8

Week e n d i n a
1 9 9 7 - A u g . 18
25
Sep.

1
8
15
22
29

166.3
164.1
163.6
161.9
164.1

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
130.6

Oct.

6p
13p

163.3
174.7

47.1
47.3

210.4
222.0

126.8
128.2

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.




Page 10
H.6(508)
Table 6

MEMORANDUM ITEMS
Billions of dollars, not seasonally adjusted

Foreign
commercial
banks

Foreign
official
institutions

Time and
savings
deposits
due to
foreign
banks and
official

1996-May
June

8.3
8.9

1.5
1.5

July
Aug.
Sep.

9.1
7.9
8.5

Oct.
Nov.
Dec.

Demand deposits
at banks due to

18.7
25.4

Time and
savings
deposits at
commercial
banks
4.5
4.4

151.3
151.6

109.0
108.8

78.3
76.9

338.6
337.3

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

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

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

151.2
151.1
151.0

106.6
106.2
105.9

94.0 e
94.2 e
94.4 e

351.8 e
351.5 e
351.3 e

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

150.9 e
150.9 e
150.9 e

105.8 e
105.9 e
105.9 e

94.6 e
94.7 e
94.7 e

351.3 e
351.4 e
351.6 e

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

150.9 e
150.9 e
150.9 e

106.0 e
106.0 e
106.0 e

94.8 e
94.8 e
94.8 e

351.7 e
351.7 e
351.7 e

10.4
10.4

1.5
1.6

17.8
17.8

2.4
1.6

4.5
4.8

11.6
12.4

18.5
18.8

3.3
3.3

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
18.6
40.3
45.9

3.3
3.3
3.3
3.3
3.3

6p
13p

10.4
10.4

1.5
1.5

17.8
17.8

1.7
1.4

5.6
5.2

19.5
6.9

26.8
13.6

3.3
3.3

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note
balances at
depository
institutions

13.5
13.0

2.8
4.8

5.7
6.1

10.1
14.5

1.6
1.5
1.4

13.0
13.4
13.8

2.9
2.7
4.6

5.3
5.1
6.2

8.6
8.8
9.1

1.4
1.4
1.4

14.9
16.4
17.9

3.0
3.3
4.3

1997-Jan.
Feb.
Mar.

9.2
9.3
9.3

1.7
1.5
1.4

18.6
18.3
18.0

Apr.
May
June

9.5
9.9
10.3

1.3
1.4
1.5

July
Aug.
Sep. p

10.4
10.4
10.4

Date

Week e n d i n g
1 9 9 7 - A u g . 18
25
Sep.

1
8

Oct.

e
p

IRA and Keogh Accounts

U.S. government deposits
Total
cash
balance

At
commercial
banks

At
thrift
institutions

^
marked
funds

Total

estimated
preliminary




#

#

#

#

#

#

#

#

#

#

#

H.6 (508)
Special Supplementary Table

Monthly Survey of Selected Deposits
August 31,1997 and September 30,1997
(not seasonally adjusted)

Insured Commercial Banks
Amount Outstanding ($mil.)

Average Rate Paid (%)
Change
(b. p.)

Aug. 31

Sept. 30

Change
(percent)

30,406

30,434

0.09

4.10

4.10

0

90,231

89,771

-0.51

4.79

4.79

0

183 days to 1 year

212,011

210,816

-0.56

5.14

5.14

0

1 to2-'/ 2 year

234,349

236,493

0.91

5.41

5.41

0

2-'/ 2 years and over

195,511

194,075

-0.73

5.67

5.65

-2

150,561

152,656

1.39

N.A.

N.A.

N.A.

Liability Categories
Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:
7 to 91 days
92 to 182 days

All IRA/Keogh Plan deposits2

Aug. 31

Sept. 30

BIF-insured Savings Banks 3
Amount Outstanding ($mil.)
Liability Categories
Interest-bearing time deposits with
balances of less than $100,000
with original maturies of:
7 to 91 days
92 to 182 days

Average Rate Paid (%)
Change
(b. p.)

Aug. 31

Sept. 30

Change
(percent)

2,538

2,407

-5.14

4.78

4.76

-2

13,470

13,568

0.72

5.09

5.07

-2
-1

Aug. 31

Sept. 30

183 days to 1 year

29,287

29,329

0.14

5.44

5.43

1 to 2-'/ 2 year

33,178

33,426

0.75

5.69

5.69

0

2-'/ 2 years and over

20,893

20,519

-1.79

5.85

5.85

0

20,649

20,667

0.09

N.A.

N.A.

N.A.

All IRA/Keogh Plan deposits2

N.A. - data are not available
NOTE: Effective October 2, 1997, the Federal Reserve Board has discontinued the Monthly Survey of Selected Deposits
(FR 2042); accordingly, this special supplementary table to H.6 will be discontinued after this release.
NOTE: Data for earlier month may show revisions.
1. Estimates are based on data collected by the Federal Reserve System from a stratified random sample of about 425 commercial
banks and 75 savings banks. All rates are expressed as annual effective yields. Owing to statistical difficulties associated in part
with the implementation of sweep accounts, estimates for NOW and Savings accounts are not currently available.
2. Total IRA and Keogh Plan deposits regardless of size, type of instrument in which held, or interest rate paid.
3. BIF-insured savings banks include both mutual and federal savings banks.