Full text of H.6 Money Stock Measures : September 18, 2003
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FEDERAL RESERVE statistical release H.6 (508) Table 1 MONEY STOCK MEASURES For release at 4:30 p.m. Eastern Time Billions of dollars September 18, 2003 Date M11 M22 M33 Seasonally adjusted 2001-Sep. Oct. Nov. Dec. 1201.2 1163.9 1165.3 1172.9 5376.5 5362.4 5402.8 5444.6 7834.9 7869.9 7943.8 8004.5 2002-Jan. Feb. Mar. Apr. May June July Aug. Sep. Oct. Nov. Dec. 1179.0 1185.2 1187.1 1172.6 1183.3 1188.9 1195.7 1184.5 1191.2 1202.6 1202.2 1210.4 5468.7 5507.2 5508.2 5494.8 5557.3 5587.4 5635.2 5673.1 5698.7 5736.6 5776.5 5791.8 8016.3 8068.1 8081.2 8083.3 8150.5 8178.8 8224.9 8291.4 8333.0 8344.3 8467.2 8522.7 2003-Jan. Feb. Mar. Apr. May June July Aug. p 1213.0 1233.4 1237.0 1237.4 1258.3 1272.2 1277.8 1285.3 5820.5 5873.5 5885.7 5908.5 5996.2 6043.6 6092.1 6132.1 8522.5 8569.0 8595.6 8613.5 8706.1 8772.1 8932.9 8956.5 Not seasonally adjusted 2001-Sep. Oct. Nov. Dec. 1190.7 1154.9 1164.2 1202.9 5358.8 5343.2 5406.7 5487.6 7769.2 7814.2 7950.0 8076.3 2002-Jan. Feb. Mar. Apr. May June July Aug. Sep. Oct. Nov. Dec. 1185.2 1171.2 1188.7 1187.9 1177.6 1186.5 1193.4 1176.6 1181.3 1192.3 1200.8 1240.3 5476.0 5494.3 5543.2 5557.0 5525.7 5563.7 5606.6 5650.9 5676.7 5715.9 5791.1 5841.1 8058.1 8100.5 8146.8 8142.0 8128.7 8152.4 8171.7 8240.0 8258.1 8287.6 8483.0 8600.3 2003-Jan. Feb. Mar. Apr. May June July Aug. p 1220.1 1219.2 1238.4 1253.5 1251.8 1269.4 1274.2 1279.2 5829.4 5855.4 5918.1 5975.2 5961.6 6012.6 6058.1 6111.3 8566.5 8599.1 8657.4 8675.3 8681.8 8741.1 8874.3 8906.4 Footnotes appear on the following page p preliminary Components may not add to totals due to rounding. Page 2 H.6 (508) Table 2 MONEY STOCK MEASURES Percent change at seasonally adjusted annual rates M3 M1 M2 2003 TO Aug. 2003 8.6 9.1 11.5 6 Months from Feb. 2003 TO Aug. 2003 8.4 8.8 9.0 12 Months from Aug. 2002 TO Aug. 2003 8.5 8.1 8.0 10.9 10.4 11.7 Mar. 10, 2003 (26 weeks previous) 9.5 9.0 8.6 Sep. 7.6 8.0 8.0 3 Months from May Thirteen weeks ending September 8 , 2003 from thirteen weeks ending: June 9, 2003 (13 weeks previous) 9, 2002 (52 weeks previous) Footnotes to Table 1: 1. 2. 3. 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. Note: Current and historical H.6 data are available each week on the Federal Reserve Board's web site (http://www.federalreserve.gov/). Monthly data are available back to January 1959, and weekly data are available back to January 1975 for most series. For information about individual copies or subscriptions, contact Publications Services at the Federal Reserve Board (phone 202-452-3245, fax 202-728-5886). For paid electronic access to current and historical data, call STAT-USA at 1-800-782-8872 or 202-482-1986. Page 3 H.6 (508) Table 3 MONEY STOCK MEASURES Billions of dollars Seasonally adjusted M1 Period ending 2003-June 16 23 30 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 1249.9 1252.6 1255.8 1267.1 1268.0 1273.6 1277.0 1272.6 1283.9 5955.4 5968.1 5982.8 6022.8 6033.2 6046.7 6044.6 6050.1 6071.8 8665.6 8679.2 8697.3 8731.7 8747.6 8776.8 8754.2 8782.2 8843.6 July 7 14 21 28 1259.2 1262.6 1265.3 1267.8 1275.2 1272.6 1273.7 1272.6 1267.1 1266.7 1277.0 1279.6 5999.3 6014.8 6029.0 6040.1 6064.2 6073.7 6081.0 6084.7 6090.1 6082.6 6079.4 6086.7 8725.3 8752.7 8775.9 8796.2 8829.2 8873.9 8904.7 8924.4 8936.8 8932.9 8905.6 8922.1 Aug. 4 11 18 25 1271.4 1273.7 1276.9 1277.9 1281.2 1284.4 1291.1 1291.8 1301.5 1279.5 1303.9 1282.3 6051.0 6062.1 6075.5 6083.6 6092.4 6105.4 6129.3 6135.8 6121.0 6134.4 6175.0 6112.8 8818.0 8839.7 8861.2 8877.2 8933.3 8947.0 8966.8 8967.9 8972.7 8987.5 8984.8 8926.7 1279.2 1280.3 1285.7 1284.9 1277.0 1276.4 6091.5 6098.8 6135.6 6131.1 6120.3 6116.2 8892.1 8908.0 8955.1 8941.5 8921.5 8933.0 Sep. 1p 8p Not seasonally adjusted 2003-June 16 23 30 1253.6 1255.6 1258.1 1263.9 1264.0 1269.2 1264.4 1266.6 1305.5 5968.9 5976.0 5982.9 5992.2 6005.1 6012.4 6042.4 5984.0 6007.5 8686.4 8691.7 8699.2 8716.1 8727.8 8741.3 8758.6 8712.2 8756.5 July 7 14 21 28 1260.7 1262.1 1262.4 1263.8 1274.0 1270.0 1272.0 1268.7 1259.4 1248.5 1274.4 1292.5 5991.2 5996.4 6000.7 6007.7 6033.4 6040.2 6054.5 6057.9 6099.5 6069.7 6041.3 6021.0 8716.5 8731.3 8744.3 8759.7 8784.1 8818.8 8852.5 8873.6 8909.1 8897.3 8847.0 8841.1 Aug. 4 11 18 25 1266.9 1268.6 1271.6 1272.9 1277.2 1276.5 1280.1 1277.8 1293.2 1245.8 1288.7 1283.6 6018.1 6029.5 6044.3 6054.2 6061.3 6073.5 6101.3 6111.3 6113.3 6118.5 6152.4 6061.1 8779.4 8799.3 8818.5 8832.4 8879.8 8893.2 8913.6 8914.9 8933.9 8950.9 8928.6 8846.0 1274.8 1275.8 1281.8 1283.7 1309.1 1253.2 6062.9 6071.8 6105.9 6109.0 6091.6 6131.0 8844.6 8856.9 8896.4 8883.2 8860.2 8898.1 Sep. 1p 8p 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. Components may not add to totals due to rounding. Page 4 H.6 (508) Table 4 SEASONALLY ADJUSTED COMPONENTS OF M1 Billions of dollars Other checkable deposits Currency1 Date Travelers checks 2 Demand deposits3 2002-Apr. May June 600.0 605.0 609.5 7.7 7.8 8.2 305.8 307.1 306.2 143.6 145.3 145.8 At thrift institutions5 115.5 118.1 119.2 July Aug. Sep. 613.7 616.4 618.3 8.5 8.3 7.9 305.1 290.0 292.7 148.0 149.4 151.0 120.4 120.4 121.3 268.4 269.8 272.3 Oct. Nov. Dec. 620.9 623.6 627.3 7.7 7.5 7.5 299.7 294.6 297.1 151.6 152.1 153.9 122.8 124.5 124.6 274.4 276.6 278.5 2003-Jan. Feb. Mar. 630.9 636.1 640.2 7.6 7.6 7.5 295.9 306.2 304.4 153.2 156.1 158.2 125.3 127.3 126.7 278.5 283.5 284.9 Apr. May June 643.2 645.8 646.5 7.4 7.5 7.9 304.4 315.4 322.5 154.8 158.3 164.0 127.6 131.4 131.3 282.4 289.6 295.3 July Aug. p 646.2 649.1 8.2 8.0 322.5 322.0 165.1 167.1 135.8 139.1 300.9 306.2 645.8 646.1 646.8 8.2 8.2 8.2 314.4 322.6 322.2 163.1 164.1 164.4 135.2 136.0 138.0 298.3 300.1 302.4 647.1 648.0 649.0 650.7 8.3 8.1 8.0 7.9 337.9 314.9 340.9 317.7 171.0 168.6 167.2 166.1 137.2 139.7 138.9 139.9 308.2 308.3 306.1 306.1 650.7 651.0 7.8 7.8 e 313.9 309.5 166.1 168.7 138.5 139.4 304.6 308.1 At commercial banks4 Week ending 2003-July 14 21 28 Aug. Sep. 1. 2. 3. 4. 5. 4 11 18 25 1p 8p Total 259.1 263.4 265.0 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 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. e estimated p preliminary Components may not add to totals due to rounding. Page 5 H.6 (508) Table 5 SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2 Billions of dollars Small-denomination time deposits2 Savings deposits1 Date At commercial banks Total At commercial banks At thrift institutions Total Retail money funds Total Non-M1 M2 2002-Apr. May June 1822.5 1862.4 1885.2 628.2 636.8 646.2 2450.7 2499.2 2531.5 610.1 613.2 612.3 323.1 314.3 311.1 933.3 927.5 923.5 938.3 947.3 943.6 4322.2 4374.0 4398.5 July Aug. Sep. 1910.4 1956.0 1983.3 658.2 669.9 681.3 2568.6 2625.9 2664.5 609.7 606.3 601.2 309.6 308.0 306.1 919.3 914.3 907.3 951.6 948.4 935.7 4439.5 4488.6 4507.5 Oct. Nov. Dec. 2005.9 2041.6 2047.9 693.7 701.7 714.5 2699.6 2743.3 2762.3 597.8 595.0 591.0 304.5 303.1 302.2 902.3 898.1 893.2 932.1 932.9 925.9 4534.0 4574.3 4581.4 2003-Jan. Feb. Mar. 2079.8 2107.6 2115.2 726.9 743.3 755.4 2806.7 2850.8 2870.5 587.5 583.9 580.6 300.5 298.0 296.4 888.0 881.9 877.0 912.8 907.3 901.2 4607.5 4640.0 4648.7 Apr. May June 2146.4 2188.4 2227.6 767.4 793.3 802.0 2913.9 2981.7 3029.6 576.5 571.6 566.4 294.6 291.7 288.5 871.2 863.3 854.9 886.1 892.8 886.9 4671.2 4737.9 4771.4 July Aug. p 2279.8 2315.8 816.3 831.2 3096.1 3147.0 557.4 549.6 285.0 281.0 842.4 830.6 875.8 869.2 4814.3 4846.7 2279.3 2275.0 2275.1 814.7 814.2 821.2 3093.9 3089.1 3096.3 558.8 557.1 555.0 285.7 284.9 284.0 844.5 842.0 839.0 877.5 871.4 871.7 4815.9 4802.5 4807.1 2294.1 2320.9 2336.6 2305.7 820.3 830.1 837.3 825.0 3114.4 3151.0 3173.9 3130.7 552.8 551.5 549.7 548.1 282.8 281.9 281.0 280.3 835.6 833.4 830.7 828.4 869.4 870.5 866.4 871.4 4819.5 4854.9 4871.0 4830.4 2304.0 2315.3 845.0 836.9 3148.9 3152.1 546.9 545.3 279.4 278.9 826.3 824.1 868.1 863.5 4843.3 4839.8 Week ending 2003-July 14 21 28 Aug. Sep. 1. 2. At thrift institutions 4 11 18 25 1p 8p 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. p preliminary Components may not add to totals due to rounding. Page 6 H.6 (508) Table 6 SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3 Billions of dollars Date Large-denomination time deposits1 At commercial banks2 At thrift institutions Total RPs3 Eurodollars4 Total Non-M2 M3 2002-Apr. May June 1189.1 1188.7 1197.2 693.2 708.9 702.6 115.6 112.5 111.1 808.7 821.3 813.7 375.3 371.3 371.7 215.5 211.8 208.8 2588.5 2593.2 2591.4 July Aug. Sep. 1192.8 1192.0 1183.9 704.2 703.1 700.2 111.3 112.7 113.0 815.5 815.8 813.2 373.3 400.9 424.3 208.1 209.6 212.8 2589.7 2618.4 2634.2 Oct. Nov. Dec. 1143.4 1209.1 1234.5 705.1 696.2 676.6 114.0 115.7 117.3 819.1 811.9 793.9 423.4 443.4 474.6 221.8 226.4 227.9 2607.8 2690.7 2730.9 2003-Jan. Feb. Mar. 1198.5 1178.7 1165.8 684.6 682.3 687.7 118.5 118.5 117.7 803.1 800.8 805.4 466.3 480.9 499.4 234.0 235.2 239.3 2701.9 2695.6 2709.9 Apr. May June 1144.0 1124.8 1143.8 687.1 691.1 687.3 117.9 116.9 118.0 805.0 808.0 805.3 509.3 517.5 520.2 246.7 259.5 259.1 2704.9 2709.9 2728.5 July Aug. p 1183.9 1164.6 775.0 773.4 121.4 123.0 896.4 896.4 495.1 491.6 265.4 271.9 2840.9 2824.4 1190.4 1180.7 1178.3 777.0 773.1 771.9 121.0 121.1 121.6 897.9 894.2 893.5 494.5 488.5 496.4 267.6 262.9 267.2 2850.4 2826.2 2835.5 1171.9 1164.6 1160.5 1168.8 778.7 786.3 773.0 766.2 122.6 122.5 122.7 123.6 901.3 908.8 895.7 889.8 505.8 508.0 483.6 480.0 272.6 271.7 270.1 275.3 2851.6 2853.1 2809.8 2814.0 1159.8 1164.9 763.5 773.8 123.5 123.0 887.0 896.8 484.9 486.1 269.6 269.0 2801.3 2816.8 Week ending 2003-July 14 21 28 Aug. Sep. 1. 2. 3. 4. Institutional money funds 4 11 18 25 1p 8p 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. 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. p preliminary Components may not add to totals due to rounding. Page 7 H.6 (508) Table 7 NOT SEASONALLY ADJUSTED COMPONENTS OF M1 Billions of dollars Other checkable deposits Currency1 Date Travelers checks2 Demand deposits3 At commercial banks4 599.9 605.5 610.8 7.9 7.9 8.0 309.7 300.4 302.4 149.3 144.9 144.2 July Aug. Sep. 615.8 616.8 616.5 8.2 8.1 7.8 303.9 287.4 290.0 145.8 145.8 147.3 119.7 118.6 119.6 265.5 264.4 267.0 Oct. Nov. Dec. 618.3 623.1 630.6 7.7 7.6 7.7 295.3 296.7 317.5 150.2 149.4 158.4 120.8 124.0 126.1 271.0 273.4 284.5 2003-Jan. Feb. Mar. 628.8 635.2 639.8 7.7 7.7 7.7 300.7 297.7 303.3 159.8 154.7 158.8 123.0 123.9 128.9 282.8 278.6 287.7 Apr. May June 643.3 646.5 647.7 7.5 7.5 7.7 308.2 308.0 318.8 160.6 157.6 161.9 133.9 132.1 133.3 294.5 289.7 295.2 July Aug. p 648.7 650.4 7.8 7.8 319.9 321.0 162.9 163.1 134.9 136.9 297.8 300.0 648.6 648.2 647.8 7.8 7.8 7.9 302.9 322.3 333.5 156.9 162.6 168.6 132.3 133.5 134.8 289.2 296.1 303.5 649.9 651.1 649.9 649.1 7.9 7.8 7.8 7.7 327.7 292.8 336.4 325.8 166.9 157.8 160.1 166.2 140.7 136.3 134.5 134.7 307.7 294.1 294.6 301.0 651.0 651.6 7.7 7.7 e 340.5 292.4 169.6 162.2 140.4 139.3 309.9 301.5 Aug. Sep. 4. 5. Total 2002-Apr. May June Week ending 2003-July 14 21 28 1. 2. 3. At thrift institutions5 121.2 118.9 121.1 4 11 18 25 1p 8p 270.5 263.8 265.3 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. e estimated p preliminary Components may not add to totals due to rounding. Page 8 H.6 (508) Table 8 NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2 Billions of dollars Small-denomination time deposits2 Savings deposits1 Date At commercial banks Total At commercial banks At thrift institutions Total Total Non-M1 M2 2002-Apr. May June 1842.9 1853.3 1881.1 635.2 633.7 644.8 2478.1 2487.0 2525.9 609.0 612.2 611.2 322.5 313.8 310.5 931.5 926.0 921.7 959.5 935.1 929.6 4369.1 4348.1 4377.2 July Aug. Sep. 1899.7 1949.0 1980.0 654.5 667.5 680.1 2554.1 2616.5 2660.1 609.1 606.6 601.9 309.3 308.2 306.4 918.4 914.7 908.3 940.7 943.1 927.1 4413.3 4474.4 4495.4 Oct. Nov. Dec. 2001.6 2054.8 2060.4 692.2 706.2 718.9 2693.7 2761.1 2779.3 598.7 596.5 591.7 304.9 303.8 302.5 903.7 900.3 894.2 926.2 929.0 927.4 4523.6 4590.3 4600.8 2003-Jan. Feb. Mar. 2075.2 2096.6 2126.3 725.3 739.4 759.3 2800.4 2836.0 2885.7 587.7 583.8 579.8 300.6 297.9 296.0 888.3 881.7 875.8 920.6 918.5 918.2 4609.3 4636.2 4679.6 Apr. May June 2171.0 2177.5 2217.5 776.2 789.4 798.3 2947.2 2966.9 3015.8 575.5 571.0 565.8 294.1 291.3 288.1 869.6 862.3 853.9 904.9 880.6 873.5 4721.7 4709.8 4743.3 July Aug. p 2263.9 2307.3 810.7 828.2 3074.6 3135.4 557.2 549.9 284.9 281.2 842.1 831.1 867.2 865.6 4783.8 4832.1 2289.2 2254.0 2221.8 818.2 806.6 802.0 3107.5 3060.7 3023.8 558.5 556.8 554.8 285.5 284.7 283.9 844.0 841.6 838.7 869.7 864.6 866.0 4821.2 4766.9 4728.5 2299.7 2336.2 2332.8 2267.4 822.3 835.5 835.9 811.3 3122.0 3171.7 3168.8 3078.7 552.9 551.7 550.1 548.5 282.9 282.1 281.2 280.5 835.8 833.8 831.3 829.0 862.4 867.2 863.6 869.8 4820.2 4872.7 4863.7 4777.5 2262.3 2347.1 829.7 848.3 3092.0 3195.4 547.5 546.0 279.7 279.3 827.1 825.3 863.3 857.1 4782.5 4877.9 Week ending 2003-July 14 21 28 Aug. Sep. 1. 2. At thrift institutions Retail money funds 4 11 18 25 1p 8p 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. p preliminary Components may not add to totals due to rounding. Page 9 H.6 (508) Table 9 NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3 Billions of dollars Institutional money funds Date At commercial banks2 692.7 715.0 707.4 At thrift institutions 115.5 113.4 111.9 Total RPs3 At commercial banks 306.0 314.3 317.8 2585.0 2603.0 2588.7 57.9 58.2 53.6 374.3 398.4 412.9 205.0 206.0 209.9 2565.1 2589.0 2581.3 359.9 385.5 423.8 51.3 53.2 52.6 411.2 438.7 476.4 218.3 225.8 228.5 2571.6 2691.9 2759.2 796.5 796.4 802.9 420.5 441.5 458.0 49.4 50.7 47.5 469.9 492.2 505.5 234.9 238.9 243.5 2737.1 2743.7 2739.3 117.6 117.9 118.8 803.3 814.8 810.6 455.9 475.9 480.1 49.4 49.1 49.4 505.4 525.0 529.5 250.3 261.5 257.4 2700.1 2720.3 2728.5 774.9 772.2 121.4 122.8 896.3 895.0 443.5 433.9 53.1 54.2 496.6 488.1 261.8 267.9 2816.2 2795.1 1173.1 1162.8 1161.7 776.6 772.9 773.0 120.9 121.1 121.8 897.5 894.0 894.8 441.7 436.7 445.9 52.8 53.0 53.8 494.5 489.7 499.7 262.5 259.2 263.9 2827.6 2805.8 2820.1 1140.7 1144.8 1140.3 1156.1 779.6 786.7 771.0 762.9 122.7 122.6 122.3 123.1 902.3 909.3 893.4 886.0 456.0 459.2 424.8 415.8 53.4 53.9 53.8 55.3 509.4 513.1 478.6 471.1 268.1 265.3 264.0 271.7 2820.6 2832.4 2776.3 2784.9 1136.0 1128.4 762.8 775.4 123.3 123.2 886.1 898.6 421.3 422.6 54.5 53.3 475.8 475.9 270.7 264.2 2768.6 2767.0 July Aug. Sep. 1170.4 1171.5 1145.0 704.1 700.8 700.4 111.3 112.3 113.1 815.4 813.2 813.5 316.3 340.2 359.3 Oct. Nov. Dec. 1120.5 1213.0 1262.3 707.3 698.4 675.0 114.4 116.1 117.0 821.7 814.4 792.0 2003-Jan. Feb. Mar. 1235.8 1216.2 1187.5 679.0 678.5 685.6 117.5 117.9 117.3 Apr. May June 1141.1 1118.9 1131.0 685.6 696.9 691.8 July Aug. p 1161.6 1144.1 Sep. 4 11 18 25 1p 8p Total Total Non-M2 M3 219.3 214.4 207.9 1186.0 1183.7 1183.3 Aug. At thrift institutions 65.6 62.2 60.5 Eurodollars4 371.6 376.5 378.3 2002-Apr. May June Week ending 2003-July 14 21 28 1. 2. 3. 4. Large-denomination time deposits1 808.1 828.4 819.3 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. 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. p preliminary Components may not add to totals due to rounding. Page 10 H.6 (508) Table 10 MEMORANDUM ITEMS Billions of dollars, not seasonally adjusted 2002-Apr. May June 8.6 8.2 7.8 1.0 1.0 1.0 Time and savings deposits due to foreign banks and official institutions 18.0 17.9 17.8 July Aug. Sep. 7.5 7.1 6.8 1.0 1.0 1.1 16.9 15.5 14.1 5.3 4.6 5.1 5.3 5.1 5.8 11.8 18.3 27.7 22.4 27.9 38.6 11.6 14.5 17.3 164.9 165.8 166.8 96.7 97.5 98.2 169.3 171.5 173.8 430.9 434.8 438.7 Oct. Nov. Dec. 7.2 7.9 8.7 1.1 1.1 1.1 14.0 14.8 15.5 3.1 3.2 3.8 4.9 5.0 4.9 18.6 16.1 15.3 26.5 24.3 24.0 20.2 23.1 25.9 166.8 166.3 165.8 98.2 97.8 97.4 175.0 175.7 176.4 440.0 439.8 439.7 2003-Jan. Feb. Mar. 8.6 7.9 7.3 1.1 1.1 1.1 16.4 17.3 18.2 3.8 3.6 3.6 5.8 5.1 5.3 13.2 5.7 4.1 22.8 14.3 13.1 26.2 23.0 19.8 165.8 166.3 166.8 97.6 98.7 99.9 178.0 180.7 183.3 441.5 445.7 450.0 Apr. May June 7.2 7.5 7.8 1.1 1.1 1.2 18.4 18.0 17.6 5.3 3.6 4.8 7.5 6.7 6.7 4.2 6.0 12.4 17.1 16.2 24.0 20.4 23.5 26.6 167.2 167.5 167.8 101.0 101.5 101.9 183.8 e 182.7 e 181.6 e 452.0 e 451.7 e 451.4 e July Aug. p 7.9 e 7.9 e 1.2 e 1.2 e 17.5 e 17.5 e 3.7 3.8 6.2 5.6 13.5 6.4 23.4 15.9 27.8 e 27.8 e 168.2 e 168.6 e 102.2 e 102.2 e 181.2 e 181.2 e 451.6 e 452.1 e 3.3 4.0 3.3 6.6 6.0 6.3 5.0 20.7 15.5 14.9 30.6 25.1 4.1 3.6 4.0 3.7 5.5 5.9 5.5 6.1 13.1 9.0 4.5 8.2 22.7 18.5 13.9 18.1 3.9 3.8 5.0 4.8 4.2 5.0 13.2 13.6 Demand deposits at banks due to Date Foreign commercial banks Foreign official institutions Week ending 2003-July 14 21 28 Aug. Sep. 1. 4 11 18 25 1p 8p Source: Daily Treasury statement. e estimated p preliminary Components may not add to totals due to rounding. U.S. government deposits Demand deposits at commercial banks Balance at Federal Reserve Note balances at depository institutions1 Total cash balance 4.6 3.0 4.2 6.1 5.1 6.1 5.8 7.5 16.3 16.5 15.5 26.6 IRA and Keogh Accounts Time and savings deposits at commercial banks 14.2 12.4 10.6 At thrift institutions At money market funds Total 160.5 162.1 163.7 97.5 97.0 96.5 163.0 165.1 167.1 421.0 424.1 427.3 At commercial banks