Full text of H.6 Money Stock Measures : October 25, 1990
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••iisss&v FEDERAL RESERVE statistical release t'—y in Mi • <ni mai ' u [ /H.6 ( 5 0 8 ) I Table 1 MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES ^ill OCTOBER 2 5 , ions of d o l l a r s Date Ml] M2* M3 3 DEBT Seasonally adjusted 1988-OCT. NOV. DEC. 785.1 786.0 787.5 3048.8 3064.1 3072.4 3883.8 3903.5 3918.3 4613.8 4644.2 4676.1 8981.1 9048.6 9107.6 1989-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 785.8 786.7 785.5 782.1 776.2 773.7 779.1 780.4 782.9 788.1 789.4 794.8 3073. 3078. 3086. 3089. 3085. 3101. 3127. 3146. 3163. 3181. 3201. 3221. 3925. 3936. 3956. 3965. 3965. 3984. 4007. 4013. 4013. 4018. 4031. 4044. 4683.3 4702.0 4735.9 4762.0 4761.9 4784.4 4810.5 4825.2 4831.8 4841.7 4858.1 4881.2 9150.3 9209.8 9279.9 9342.8 9403.6 9457.8 9506.6 9569.9 9627.8 9687.4 9750.2 9788.9 1990-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. 794.8 801.4 804.8 807.3 805.4 809.4 809.2 816.2 822.8 3231. 3255. 3270. 3277. 3270. 3278. 3284. 3302, 3317. 4048. 4064. 4069. 4072. 4065. 4069. 4073. 4088. 4091. 4882.5 4890.4 4906.6 4916.4 4887.1 4906.8 4918.4 4931.3 p 9829 9887 9955 10010 10053 10108 10170 10244 3 1 1 6 6 7 1 0 p Not seasonally adjusted 1988-OCT. NOV. DEC. 782.2 788.3 804.5 3046.7 3067.2 3085.2 3884.1 3912.4 3932.5 4613.6 4652.3 4692.9 8939.9 9015.3 9093.2 1989-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 793.5 773.0 775.9 791.6 767.7 774.4 782.3 778.1 779.1 785.0 791.7 812.1 3085. 3065. 3080. 3100. 3071. 3099. 3132.8 3146.5 3156.6 3179.3 3204.8 3234.5 3935. 3925. 3954. 3971. 3950. 3978. 4005.8 4012.7 4010.6 4018.2 4040.7 4058.3 4701. 4696. 4733. 4764. 4750. 4777. 4799. 4819.8 4827.3 4841.8 4867.2 4898.9 9139. 9179. 9237. 9297. 9358. 9413. 9459.8 9515.7 9576.9 9646.9 9717.7 9774.3 1990-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. 802.3 788.0 795.7 817.3 796.4 810.0 812.2 814.0 818.7 3242. 3243. 3265. 3288. 3255. 3275. 3289. 3302. 3310. 4057. 4052. 4067. 4079. 4049. 4062.8 4072.3 4088.7 4087.8 4901. 4885. 4904. 4919, 4874. 4898, 4906 4925.8 p Footnotes appear on the following page, p—indicates preliminary data. 9819.1 9856.8 9912. 9965. 10007. 10065. 10124. 10190. 1990 H.6 ( 5 0 8 ) Table 2 MONEY STOCK AND DEBT MEASURES Percent change at seasonally adjusted annual rates Debt 1 Ml M2 M3 3 Months from JUNE 1990 to SEP. 1990 6.6 4.8 2.2 7.6 6 Months from MAR. 1990 TO SEP. 1990 4.5 2.9 1.1 7.2 12 Months from SEP. 1989 TO SEP. 1990 5.1 4.9 1.9 7.0 5.1 3.7 1.9 Thirteen weeks ending OCTOBER 15, 1990 from thirteen weeks ending: JULY 16, 1990 (13 weeks previous) APR. 16, 1990 (26 weeks previous) 3.8 2.8 1.1 OCT. 4.5 4.8 1.9 16, 1989 (52 weeks previous) Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, May 1990 to August 1990, February 1990 to August 1990, and August 1989 to August 1990, respectively. Footnotes to Table 1 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 Ml is calculated by summing currency, travelers checks, demand deposits, and OCDs, each seasonally adjusted separately. Consists of Ml plus overnight (and continuing contract) RPs issued by all depository institutions and overnight Eurodollars issued to U.S. residents by foreion branches of U.S. banks worldwide, money market deposit accounts (MMDAs), savings and small-denomination time deposits (time deposits—incuding 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 Ml. Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more) and term RP liabilities issued by all depository ins titut ions, 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 mutual fund holdings of these assets. Debt of domestic nonfinancial sectors consists of outstanding credit market debt of the U.S. government, state and local overnments and private nonfinancial sectors. Private debt consists of corporate bonds, mortgages, consumer credit including bank loans), other bank loans, commercial paper, bankers acceptances and other debt instruments. The data are derived from the Federal Reserve Board's flow of funds accounts. All data on debt of domestic nonfinancial sectors are presented in month-average form, derived by averaging adjacent month-end levels. 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 funds statistics contained in the Federal Reserve releases Z.7 and Z.l. In those releases, published levels of credit market debt are measured on a quarter-end basis and include discontinuities. f H.6 ( 5 0 8 ) Table 3 MONEY STOCK MEASURES Billions of dollars Seasonally adjus;ted Period ending 13-week average 4-week average 1990-JULY 23 30 807.7 807.9 810.8 808.6 M3 M2 Ml 13-week average 4-week average 807.5 809.0 3277.2 3277.7 3285.4 3283.4 week average week average 13-week average 4-week average week average 3280.7 3280.0 4068.3 4069.0 4073.2 4073.0 4072.5 4072.1 AUG. 6 13 20 27 808.5 809.4 810.3 811.2 809.3 811.2 813.9 815.5 813.0 815.1 818.3 815.7 3278.9 3280.9 3283.6 3286.4 3284.5 3287.5 3293.7 3299.6 3290.9 3298.5 3305.4 3303.6 4070.0 4071.4 4073.1 4075.6 4074.6 4078.1 4081.9 4086.5 4082.5 4085.1 4087.9 4090.6 SEP. 3 10 17 24 812.2 813.2 814.2 815.2 817.3 818.7 819.3 820.8 820.0 820.8 820.6 821.8 3290.0 3293.3 3296.1 3298.8 3306.0 3310.7 3313.2 3316.3 3316.4 3317.5 3315.2 3316.0 4078.4 4080.5 4082.4 4083.7 4091.2 4094.4 4095.6 4094.3 4101.3 4097.6 4093.0 4085.2 OCT. 1 8p 15p 816.1 817.0 817.9 823.0 823.4 823.1 828.9 822.2 819.5 3301.5 3304.4 3307.3 3317.7 3319.7 3321.8 3322.2 3325.2 3323.6 4084.7 4085.9 4087.4 4090.4 4089.1 4088.5 4085.9 4092.4 4090.4 Not seasonally adjusted M2 Ml Period emding 13-week average 4-week average 1990-JULY 23 30 806.2 806.1 815.4 811.0 13-week average 4-week average 802.1 797.1 3272.7 3273.6 3291.8 3288.7 week average M3 week average 13-week average 4-week average 3278.7 3271.7 4060.2 4061.3 4072.6 4071.6 4065.0 4059.4 week average AUG. 6 13 20 27 807.3 809.0 810.6 811.8 809.3 810.1 813.8 814.7 820.6 820.4 816.9 800.7 3276.5 3280.1 3284.1 3287.7 3287.7 3289.9 3297.0 3301.5 3301.1 3308.0 3307.2 3289.8 4064.0 4067.2 4070.2 4073.4 4072.5 4077.1 4083.2 4088.2 4089.4 4094.7 4089.1 4079.5 SEP. 3 10 17 24 812.1 813.3 814.2 814.8 813.6 816.5 818.1 818.9 816.2 832.2 823.4 803.9 3290.4 3294.0 3296.9 3299.3 3304.0 3309.0 3311.0 3311.5 3310.9 3328.1 3315.3 3291.6 4075.7 4078.4 4080.9 4082.5 4090.3 4094.2 4096.0 4092.5 4097.9 4110.1 4096.3 4065.5 OCT. 1 8p 15p 814.7 814.8 815.5 818.2 817.3 817.9 813.3 828.5 825.7 3300.7 3302.7 3305.0 3309.3 3310.0 3313.6 3302.0 3331.0 3329.8 4083.1 4084.2 4086.0 4085.8 4083.4 4084.3 4071.1 4100.5 4099.9 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—indicates preliminary data. H.6 ( 5 0 8 ) Table 4 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Nontransact ions component s Other checkable deposits At commercial banks 4 Date Currency 1 Travelers checks 2 Demand deposits3 1989-MAY JUNE 216.6 217.2 7.3 7.2 279.6 276.3 188.5 188.7 JULY AUG. SEP. 217.8 218.6 219.3 7.2 7.2 7.2 279.6 278.5 278.1 OCT. NOV. DEC. 220.0 220,4 221.9 7.3 7.4 7.4 1990-JAN. FEB. MAR. 224.6 226.6 228.4 APR. MAY JUNE JULY AUG. SEP. At thrift institutions5 General purpose and broker/dealer money market funds Total In M 2 6 In M3 only 7 84.3 84.3 272.8 273.0 2309.1 2327.9 880.2 883.3 261.2 268.3 189.8 191.1 192.4 84.6 85.0 86.0 274.5 276.0 278.4 2348.0 2366.5 2380.6 880.6 866.1 849.9 277.7 287.8 295.9 280.0 278.8 279.7 194.2 195.9 197.9 86.6 86.9 87.8 280.8 282.8 285.7 2393.8 2411.8 2426.8 836.2 829.8 822.6 302 309 312 7.5 7.6 7.6 277.3 280.2 279.3 198.0 199.3 201.0 87.4 87.7 88.5 285.4 287.0 289.5 2436.2 2454.2 2466.1 817.5 808.7 798.1 318, 325, 325, 230.1 231.6 233.4 7.6 7.7 7.7 277.8 274.5 274.5 202.8 203.2 205.7 89.0 88.3 88.1 291.8 291.5 293.8 2470.0 2465.5 2469.2 795.6 794.1 790.6 325.8 320.4 321.9 235.4 238.3 241.5 7.7 8.0 8.3 274.8 278.0 279.9 204.0 204.4 205.9 87.3 87.5 87.2 291.3 291.9 293.1 2474.8 2485.7 2495.0 789.3 786.6 774.0 325.1 333.8 340.1 238.3 240.0 280. 276, 204.3 203.8 87. 87. 291. 291. 2487. 2487. 782. 787. 333.5 338.4 Week ending 1990-AUG. 20 27 SEP. 3 10 17 24 240.1 240.4 241.3 242.5 278, 278. 279, 279. 205.8 206. 204. 204. 87. 87. 87, 86.8 293, 293. 292. 291. 2496. 2496. 2494. 2494. 784.9 780.1 777.8 769.2 339, 339. 339, 340. OCT. 1 8p 15p 243.1 242.6 243.0 282.7 278.8 277.0 207, 206. 205, 87, 85, 85, 294.8 292.5 291.2 2493. 2503. 2504. 763 767, 766.8 341. 343. 343. 1. 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. 3. 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. 4. Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreiqn banks, and Edge Act corporations. 5. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs and savings and small time deposits. This sum is seasonally adjusted as a whole. 7. Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overniqht RPs and Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted as a whole. e—indicates estimated data, p—indicates preliminary data. H.6 (508) Table 4-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted At At commercial thrift banks institutions Date Total Small-denomination time deposits2 Savings deposits1 Money market deposit accounts At At commercia.1 . thrift banks institutions Total At At commercial thrift banks institutions Total Large-denomination time deposits3 At~ At commercial thrift banks4 institutions Total 1989-MAY JUNE 331.7 331.0 131.5 130.0 463.1 460.9 183.1 182.3 222.3 221.1 405.4 403.4 497.3 501.8 605.7 612.2 1103.0 1114.0 395.7 397.1 177.4 177.8 573.1 574.9 JULY AUG. SEP. 333.9 337.9 340.8 130.1 130.4 131.0 463.9 468.2 471.9 183.0 183.9 184.9 220.3 220.0 220.6 403.3 404.0 405.5 505.8 510.4 513.3 616.6 619.6 619.2 1122.4 1130.0 1132.6 398.7 397.8 397.2 176.0 172.7 168.4 574.7 570.5 565.6 OCT. NOV. DEC. 343.7 348.5 351.5 131.6 132.3 132.2 475.3 480.8 483.7 185.9 187.3 188.5 220.3 220.5 220.5 406.1 407.9 409.0 519.7 524.4 528.6 616.2 614.1 613.7 1135.9 1138.5 1142.3 398.8 401.5 401.5 163.8 159.5 156.8 562.7 561.0 558.3 1990-JAN. FEB. MAR. 352.4 356.0 359.1 132.5 133.4 135.8 485.0 489.4 494.9 189.8 191.8 193.4 220.4 221.8 221.2 410.2 413.6 414.6 531.4 534.7 537.2 611.6 607.9 609.2 1143.0 1142.6 1146.4 401.6 399.9 396.9 152.9 150.2 147.3 554.5 550.1 544.1 APR. MAY JUNE 362.3 365.3 368.2 136.6 134.7 133.0 498.8 500.0 501.2 193.8 193.5 195.0 222.0 221.5 220.8 415.8 415.0 415.8 541.4 550.7 559.3 606.3 598.2 587.8 1147^7 1149.0 1147.1 395.2 397.1 397.9 143.1 138.3 134.9 538.3 535.4 532.8 JULY AUG. SEP. 370.9 374.6 376.0 131.6 131.0 131.1 502.4 505.5 507.1 195.7 195.8 196.6 220.7 220.4 219.2 416.3 416.3 415.8 568.1 571.3 575.8 580.1 578.2 574.6 1148.2 1149.5 1150.4 399.7 396.4 391.8 130.8 127.7 124.9 530.5 524.1 516.7 376.3 375.2 130.8 131.3 507.1 506.6 195.9 195.9 220.8 219.8 416.7 415.7 571.8 572.3 577.2 577.0 1149.0 1149.3 396.8 395.2 127.1 126.6 523.9 521.8 Heek ending 1990-AUG. 20 27 SEP. 3 10 17 24 375.8 376.8 375.9 375.8 131.5 131.4 131.5 130.9 507.3 508.3 507.4 506.7 196.3 196.3 196.5 196.5 219.9 219.5 219.5 218.8 416.1 415.8 416.1 415.3 571.9 573.7 575.9 576.7 577.2 576.5 575.3 574.4 1149.1 1150.2 1151.2 1151.1 393.7 393.9 394.7 391.4 126.7 126.5 125.3 123.9 520.5 52Q.4 520.0 515.3 OCT. 1 8p 15p 375.4 376.4 376.7 130.0 129.9 130.3 505.4 506.3 507.0 197.5 197.6 197.8 218.1 216.7 217.0 415.7 414.3 414.7 579.5 585.5 586.7 570.1 566.8 566.6 1149.6 1152.3 1153.3 386.8 388.6 390.6 122.6 122.2 121.6 509.4 510.8 512.2 1. 2. Savings deposits exclude MMDAs. 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. 3. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities, 4. Large^denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, and foreign banks and official institutions. p—indicates preliminary data. 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 Institutiononly money market funds Date Savings bonds Short-term Treasury securities1 Bankers acceptances2 Commercial paper 3 Federal debt Non-Federal debt 1989-MAY JUNE 92.1 96.3 112.8 113.6 293.5 295.2 41.2 41.2 348.8 349.4 2165.6 2176.9 7238.1 7280.9 JULY AUG. SEP. 99.0 101.4 101.6 114.3 115.0 115.7 297.2 300.2 311.3 41.9 42.6 41.0 349.5 354.3 350.3 2179.3 2197.7 2219.1 7327.3 7372.2 7408.7 OCT, NOV. DEC. 101.1 101.1 102.3 116.2 116.8 117.5 317.4 318.6 330.3 40.0 40.5 41.2 350.0 351.3 347.9 2238.0 2259.9 2266.7 7449.4 7490.4 7522.2 1990-JAN. FEB. MAR. 103.2 103.7 105.4 117.7 118.2 119.1 332.3 324.9 338.9 40.7 38.3 37.0 343.3 344.7 342.7 2274.5 2290.5 2314.9 7554.8 7596.7 7640.2 APR. MAY JUNE 106.8 107.3 107.3 119.9 120.7 121.5 330.3 316.5 332.2 35.8 35.3 34.6 357.5 349.6 349.4 2329.1 2343.0 2370.9 7681.5 7710.5 7737.8 JULY AUG. SEP. 108.9 114.0 116.1 122.4 123.2 p 341.3 342.2 p 32.8 32.2 p 348.7 345.1 p 2397.8 2436.0 p 7772.3 7808.0 p Neek ending 1990-AUG. 20 27 115.4 114.9 SEP. 3 10 17 24 115.5 115.5 116.1 117.4 OCT. 1 8p 15p 115.5 118.3 118.5 1. 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. 3. Total commercial paper less commercial paper held by money market mutual funds. 4. Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities. p—indicates preliminary data. 2. H.6 ( 5 0 8 ) Table 5 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars> not seasonally adjusted Other checkable deposi ts 1 Travelers Demand checks 2 deposits 3 At commercial banks 4 At thrift institutions5 Nontransactions components Total In M 2 6 In M3 only7 Overnight RPs 8 Overnight Eurodollars9 General purpose and broker/dealer money market funds Date Currency 1989-MAY JUNE 216.6 218.4 7.1 7.5 273.6 276.7 186.2 187.0 84.1 84.8 270.3 271.8 2303.5 2324.7 879.5 879.4 63.2 65.0 14.6 14.6 260.7 266.8 JULY AUG. SEP. 219.7 219.2 218.6 8.1 8.1 7.7 281.8 277,1 276.3 187.4 188.7 190.7 85.3 85.0 85.9 272.7 273.7 276.5 2350.4 2368.5 2377.5 873.0 866.2 854.0 64.2 63.2 59.6 16.8 15.2 15.5 275.6 286.8 294.9 OCT. NOV. DEC. 218,9 221.0 225.3 7.3 7.0 6.9 280.7 281.5 291.6 191.6 194.9 200.3 86.5 87.2 88.1 278.1 282.1 288.4 2394.3 2413.1 2422.4 838.9 835.9 823.8 61.6 62.2 63.1 14.1 13.2 14.3 301 309 312 1990-JAN. FEB. MAR. 222.9 224.2 227.0 7.0 7.2 7.3 283.0 271.4 271.6 202.5 199.5 202.2 87.0 85.7 87.6 289.4 285.2 289.7 2440.4 2455.5 2470.0 814.8 809.4 801.9 64.6 67.5 67.0 16.9 14.8 14.8 317.4 326.9 330.4 APR. MAY JUNE 229.5 231.7 234.8 7.3 7.5 8.1 279.8 268.5 274.8 209.4 200.7 203.8 91.3 88.0 88.5 300.7 288.7 292.3 2471.2 2459.5 2465.8 791.1 793.4 787.0 64.3 66.7 66.9 14.9 16.4 15.3 329. 319. 319.8 JULY AUG. SEP. 237.1 239.2 240.8 8.6 8.9 8.8 277.0 276.7 278.1 201.4 201.8 204.0 88.0 87.4 87.0 289.4 289.2 291.1 2477.5 2487.9 2491.6 782.7 786.7 777.6 68.4 68.0 65.7 15.8 15.1 16.4 322.3 332.8 339.1 239.4 238.4 240.4 241.8 240.6 239,9 8.9 9.0 280.1 269.4 201.4 199.0 87, 85. 288..5 284,,0 2490..3 2489.,1 781.9 789.7 68.8 66.9 15. 14. 332.8 338.2 9.0 8.9 8.8 8.7 275.7 282.4 280.5 271.1 203.6 208.9 205.8 199.7 87, 90, 87, 84, 291,.1 299,,1 293..5 284,,2 2494.,7 2495..9 2491..9 2487,,7 787.0 782.0 781.0 773.9 69.6 67.5 64.8 65.9 15. 15, 16. 16. 337. 338. 339. 340. 239.8 243.8 242.8 8.6 8.5 e 8.4 e 279.6 281.6 283.3 200.6 206.7 204.8 84.8 87.9 86.4 285, 4 294.,6 291. 1 2488,,7 2502,,5 2504,,1 769.1 769.5 770.2 62.7 69.2 69.4 18. 17. 16. 339.8 340.5 341.7 Heek ending 1990-AUG. 20 27 SEP. 3 10 17 24 OCT. 1 8p 15p 1. 2. Currency outside U.S. Treasury> Federal Reserve Banks and the vaults of depository institutions. Outstanding amount of U.S. dollat—denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits. 3. 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. 4. Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. 5. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), MMDAs and savings and small time deposits. 7. Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overnight RPs and Eurodollars held by institution-only money market mutual funds. 8. 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 broker/dealer). 9. 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). e—indicates estimated data, p—indicates preliminary data. H.6 (508) Table 5-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars> not seasonally adjusted Savings deposits3 Money market deposit accounts At ccommercial At thrift institutions A At * thrift commercia il banks institutions Small-denomination time deposits2 Total At At commercial thrift banks institutions Total Large-denomination time deposits 3 At At commercial thrift 4 banks institutions Total Date banks 1989-MAY JUNE 328.0 329.0 130.7 129.6 458.8 458.6 183.7 183.5 222.7 222.7 406.4 406.2 496.0 502.5 603.8 611.0 1099.8 1113.5 396.1 396.4 176.4 176.1 572.5 572.6 JULY AUG. SEP. 331.5 336.4 339.6 129.8 130.6 131.1 461.4 467.0 470.6 184.7 184.4 184.4 222.7 220.5 220.3 407.3 404.9 404.6 507.1 511.3 513.9 618.0 619.9 618.2 1125.1 1131.2 1132.1 396.5 398.4 398.6 174.2 172.0 168.8 570.7 570.4 567.4 OCT. NOV. DEC. 342.7 350.3 355.0 131.8 132.8 132.8 474.6 483.1 487.8 185.9 187.1 187.2 221.3 220.5 219.0 407.2 407.6 406.2 519.2 523.1 526.4 616.3 614.2 612.3 1135.5 1137.3 1138.8 399.9 401.9 399.8 165.5 161.7 158.3 565.4 563.6 558.1 1990-JAN. FEB. MAR. 356.3 357.7 360.8 132.9 133.3 136.1 489.3 491.1 496.9 189.0 190.5 193.2 218.8 219.5 220.9 407.7 410.0 414.1 530.8 535.2 538.3 613.7 610.1 608.5 1144.5 1145.3 1146.8 399.3 399.7 399.7 154.1 150.6 146.4 553.4 550.2 546.1 APR. MAY JUNE 362.4 361.0 365.8 135.9 133.8 132.5 498.3 494.8 498.2 194.2 194.1 196.1 222.4 221.8 222.3 416.6 415.9 418.4 541.7 549.7 560.4 606.0 596.5 586.8 1147.7 1146.2 1147.2 395.2 397.6 397.4 141.7 137.6 133.6 536.9 535.1 531.0 JULY AUG. SEP. 368.1 372.9 374.4 131.2 131.1 131.1 499.3 504.0 505.6 197.3 196.3 196.0 223.0 220.9 218.9 420.4 417.3 414.9 569.6 572.3 576.2 581.6 578.6 573.6 1151.2 1150.8 1149.9 397.5 397.0 393.1 129.5 127.1 ' 125.1 527.0 524.1 518.2 374.5 373.3 130.9 131.2 505.4 504.6 196.4 195.9 221.3 219.3 417.7 415.2 572.7 573.0 577.6 576.9 1150.3 1149.8 397.4 397.2 126.6 126.4 524.0 523.6 Total Neek ending 1990-AUG. 20 27 SEP. 3 10 17 24 374.7 377.2 375.5 372.3 131.7 132.0 131.6 130.5 506.4 509.2 507.1 502.8 195.8 196.3 196.0 195.6 219.4 219.7 219.4 218.0 415.2 415.9 415.4 413.7 572.9 574.3 576.0 576.8 577.0 575.6 573.6 572.2 1149.9 1149.9 1149.5 1149.0 395.4 394.8 395.0 392.8 126.5 126.1 125.3 124.2 521.9 520.9 520.3 517.1 OCT. 1 8p 15p 372.4 375.0 376.2 129.7 130.3 130.7 502.1 505.4 506.9 196.5 198.1 198.1 218.0 218.7 218.6 414.5 416.8 416.7 580.5 585.9 586.7 570.8 567.6 566.6 1151.2 1153.6 1153.3 389.5 390.8 391.5 124.0 123.1 122.8 513.5 514.0 514.3 1. 2. Savings deposits exclude MMDAs. 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. 3. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities. 4. Large^denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, and foreign banks and official institutions p—indicates preliminary data H.6 (508) Table 5-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjustea Term RPs 1 Date Debt components 6 Non-M3 Components of L At At Institutionthrift only money commercial institutions market funds banks Total Term ^ Eurodollars"- Savings bonds Short-term Treasury ^ securities"1 Bankers acceptances4 Commercial paper 5 Federal debt Non-Federal debt 1989-MAY JUNE 91.6 95.1 43.7 43.7 83.8 84.7 127.5 128.4 97.2 93.4 113.0 113.7 289.1 288.1 41.2 41.5 356.2 355.4 2159.5 2165.1 7198.6 7248.8 JULY AUG. SEP. 98,2 100.6 99.2 45.1 45.4 47,9 79.0 72.2 66.0 124.1 117.6 113.9 91.8 89.8 85.5 114.2 114.7 115.4 288.4 296.6 311.8 42.2 42.7 41.6 348.8 353.1 348.0 2163.8 2179.9 2201.3 7296.1 7335.9 7375.7 OCT. NOV. DEC. 98.7 102.1 102.9 48.5 50.0 45.9 61.2 58.9 51,0 109.6 108.9 96.9 80.1 79.3 81.1 116.0 116.6 117.3 321.4 325.6 336.8 40.4 41.0 41.7 345.8 343.3 344.7 2223.0 2251.2 2264.5 7423.9 7466.5 7509.8 1990-JAN. FEB. MAR. 106.0 107.0 106.8 47.5 51.6 50.1 46.1 45.4 45.0 93.6 96.9 95.2 74.0 68.5 66.8 118.0 118.5 119.4 338.2 329.2 337.7 40.4 37.5 36.1 347,3 347.6 343.8 2276.1 2293.9 2317.9 7543.0 7563,0 7594.3 APR. MAY JUNE 105.8 106.7 106.1 49.6 50.1 53.4 45.2 45.7 45.4 94.8 95.8 98.7 65.6 67.4 64.6 120.2 120.9 121.6 329.3 311.8 323.9 35.3 35,2 34.9 355.4 357.6 355.4 2329.2 2336.8 2359.0 7636.1 7670.9 7706.0 JULY AUG. SEP. 108.1 113.2 113.2 53.6 55.9 52.3 43.5 43.1 43.2 97.1 99.0 95.6 64.6 66.3 66.2 122.2 122.8 p 330.8 338.1 p 33.0 32.3 p 348.2 343,9 p 2382.4 2418.2 p 7742.2 7772.5 p 113.8 114.6 54.4 56.8 43. 42. 97. 99. Neek ending 1990-AUG. 20 27 SEP. 3 10 17 24 113.6 113.0 112.9 113.4 56, 53, 53. 51. 43. 43. 43. 42. 100. 96. 96. 94. 66. 66, 68, 67, 66, 65, OCT. 1 8p 15p 113.6 114.6 115.5 48. 48. 50. 43. 43. 42. 91. 91. 92, 64. 64, 65. 1. 2. Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs. Term Eurodollars are those 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 bankinq offices in the United Kingdom and Canada. Excludes those held by depository institutions and money market mutual funds. 3. 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. 4. Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds. 5. Total commercial paper less commercial paper held by money market mutual funds. 6. Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities, p—indicates preliminary data. H.6 ( 5 0 8 ) Table 6 MEMORANDUM ITEMS Billions of dollars> not seasonally adjusted Demand deposits at banks due to Time and savings deposits due to foreign banks Foreign Foreign and official official commercial institutions institutions banks Date IRA and Keogh Accounts U.S. government deposits Demand deposits at commercial banks Balance at Federal Reserve Note balances at depository institutions Total cash balance Time and savings deposits At At at commercial commercial thrift banks banks institutions At money market funds Total 1989-MAY JUNE 8.9 10.0 1.6 1.7 14. 9, 31. 21, 48.5 35.8 101.8 102.8 128.6 130.0 23.6 23.8 254.0 256.5 JULY AUG. SEP. 10.0 8.9 9.4 1.7 1.6 1.7 6. 5, 7. 19. 12. 19. 29, 21, 32, 104. 105. 106. 131.2 131.4 132.2 24.7 24.8 26.4 260.0 261.5 264.6 OCT. NOV. DEC. 9.9 9.4 9.7 1.7 1.5 1.5 5. 5. 4, 17.4 11.2 14.4 26, 19, 24, 107. 108. 108. 132.5 132.3 133.3 27.1 27.5 28.0 266.9 267.8 270.0 1990-JAN. FEB. MAR. 9.8 9.1 9.0 1.6 1.6 1.6 18.8 18.5 13.1 29. 28. 22. 110. 111. 113. 133.9 133.9 133.9 29.6 31.2 31.7 273.8 277.0 278.9 APR. MAY JUNE 9.1 9.3 9.0 1.5 1.8 1.5 14.9 21.8 15.4 24. 30. 25. 115. 117. 119. 134.7 135.3 e 135.5 e 32.2 32.6 e 32.7 e 282.5 285.6 287.7 JULY AUG. SEP. 8.9 9.1 9.3 1.5 1.8 2.0 11. 19. 25. 20. 28. 37. 121. 122. 123. 135.9 e 136.1 e 136.2 e 32.8 e 32.8 e 32.9 e 289.8 291.6 293.1 9.3 9.4 2.3 1.7 3.5 3.5 3.8 3.0 5.5 5.1 22.0 27.2 31.3 35.3 1.3 1.3 Week ending 1990-AUG. 20 27 SEP. 3 10 17 24 9.2 9.7 9.2 8.8 1.7 2.3 1.8 1.9 3.5 3.5 3.5 3.5 3.5 4.4 7.7 4.7 5.0 5.3 4.6 9.5 22.7 18.2 22.8 33.8 31.2 27.9 35.0 48.0 1.3 1.2 1.2 1.2 OCT. 1 8p 15p 9.6 9.4 9.5 2.2 1.6 1.5 3.5 3.9 3.9 4.3 3.2 3.9 7.0 5.7 5.0 30.9 10.7 5.9 42.2 19.5 14.8 1.2 1.5 1.5 e—indicates estimated data, p—indicates preliminary data.