Full text of H.6 Money Stock Measures : September 21, 1995

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES6

For release at 4:30 p.m. Eastern Time

Billions of dollars
Date

SEPTEMBER21,1995

M11

M22

M33

L4

DEBT5

Seasonally adjusted
1993-SEP.
OCT.
NOV.
DEC.

1104.7
1113.5
1122.4
1128.6

3559.1
3564.4
3576.7
3583.6

4214.1
4222.6
4234.2
4242.3

5108.5
5116.0
5128.5
5145.8

12184.5
12220.2
12276.1
12341.5

1994-JAN.
FEB.
MAR.
APR.
HAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1132.5
1137.0
1141.1
1142.8
1143.5
1147.0
1152.2
1150.8
1151.0
1148.2
1147.6
1148.0

3589.1
3586.2
3597.5
3605.4
3608.4
3605.2
3616.7
3614.9
3614.0
3609.9
3611.3
3616.2

4245.7
4231.8
4240.4
4250.5
4251.2
4256.2
4274.2
4273.8
4279.9
4286.2
4291.5
4303.4

5157.6
5160.5
5171.7
5180.5
5195.8
5192.0
5217.1
5226.5
5224.7
5237.4
5248.2
5269.3

12384.3
12434.7
12499.9
12557.6
12613.4
12652.6
12679.5
12744.8
12804.0
12850.8
12917.8
12959.6

1995-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG. p

1149.0
1147.3
1147.9
1149.7
1142.9
1143.8
1144.9
1143.6

3627.9
3623.5
3631.0
3643.7
3659.9
3695.7
3714.3
3740.0

4326.1
4335.7
4358.7
4381.1
4410.2
4456.7
4487.4
4517.5

5295.2
5336.1
5380.3
5410.9
5445.3
5488.6
5544.0 p

13014.7
13094.7
13155.9
13228.1
13319.2
13374.8
13408.5 p

Not seasonally adjusted
1993-SEP.
OCT,
NOV.
DEC.

1099.3
1112.1
1129.5
1153.7

3548,4
3561.3
3584.2
3606.1

4201.8
4217.1
4246.5
4266.1

5090.7
5107.3
5147.9
5180.3

12143.7
12181.7
12249.0
12333.7

1994-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1142.3
1124.2
1131.4
1152.7
1132.5
1142.3
1150.9
1144.0
1146.2
1147.4
1155.4
1173.7

3595.6
3573.3
3596.2
3622.6
3595,6
3600.4
3615.5
3607.4
3603,5
3606.9
3619.6
3639.7

4254.7
4221.6
4238.0
4264.0
4240.2
4249.8
4267.9
4267.3
4267.5
4281.3
4305.8
4329.4

5179.1
5153.3
5172.1
5192.4
5175.5
5180.4
5204.6
5215.2
5205.3
5228.4
5270.3
5306.8

12376.8
12408.0
12460.7
12499.3
12540.8
12597.3
12631.2
12692.6
12760.2
12812.0
12889.9
12951.6

1995-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG. p

1158.6
1134.3
1138.1
1158.7
1132.0
1139.2
1143.9
1137.2

3634,4
3609,8
3629 ff0
3660,1
3647,6
3691,2
3713,8
3733.0

4335.7
4324.4
4354.5
4392.8
4400.0
4450.3
4480.6
4511.2

5317.9
5328.0
5379.5
5421.0
5424.7
5476.8
5530.3 p

12989.5
13042.0
13108.1
13159.9
13226.8
13309.0
13353.7 p

Footnotes appear on the following p a g e
p

preliminary




Page 2

H.6 (508)
Table 2

MONEY STOCK AND DEBT MEASURES

Percent change at seasonally adjusted annual rates
M1

M2

M3

DEBT1

1995 t o AUG. 1995

0.2

8.8

9.7

5.5

6 Months f r o m FEB. 1995 TO AUG. 1995

—0.6

6.4

8.4

6.1

12 Months f r o m AUG. 1994 TO AUG. 1995

—0.6

3.5

5.7

5.7

-0.9

7.7

9.2

MAR. 1 3 , 1995 (26 w e e k s p r e v i o u s )

-0.7

5.6

7.8

SEP. 1 2 , 1994 (52 w e e k s p r e v i o u s )

-0.6

3.1

5.3

3 Months f r o m MAY

T h i r t e e n w e e k s e n d i n g SEPTEMBER 1 1 , 1995
f r o m t h i r t e e n weeks e n d i n g s
JUNE 1 2 , 1995 (13 w e e k s p r e v i o u s )

1.

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, April 1995 to July 1995, January 1995 to July 1995,
and July 1994 to July 1995, respectively.

Footnotes to Table 1:
1.

2.

3.

4.
5.

Consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) travelers checks of 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 overnight (and continuing contract) RPs issued by all depository institutions and overnight Eurodollars issued to U.S. residents by foreign branches of
U.S. banks worldwide, savings deposits (including money market deposit accounts), small-denomination time deposits (time deposits—including retail RPs—in amounts of
less than $100,000), and balances in both taxable and tax-exempt general purpose and broker/dealer money market mutual funds. Excludes individual retirement account
(IRA) and Keogh balances at depository institutions and money market funds. Also excludes all balances held by U.S. commercial banks, money market funds (general
purpose and broker/dealer), foreign governments and commercial banks, and the U.S. government. Seasonally adjusted M2 is computed by adjusting its non-M1 component a s a whole and then adding this result to seasonally adjusted M1.
Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more) and term RP liabilities issued by all depository institutions, term Eurodollars held
by U.S. residents at foreign branches of U.S. banks worldwide and at all banking offices in the United Kingdom and Canada, and balances in both taxable and tax-exempt
institution-only money market mutual funds. Excludes amounts held by depository institutions, the U.S. government, money market funds, and foreign banks and official
institutions. Also subtracted is the estimated amount of overnight RPs and Eurodollars held by institution-only money market mutual funds. Seasonally adjusted M3 is
obtained by adjusting its non-M2 component as a whole and then adding this result to seasonally adjusted M2.
Consists of M3 plus the nonbank public holdings of U.S. savings bonds, short-term Treasury securities, commercial paper and bankers acceptances, net of money market
mutual fund holdings of these assets.
Debt: The debt aggregate is the outstanding credit market debt of the domestic nonfinancial sectors — t h e federal sector (U.S. government, not including governmentsponsored enterprises or federally related mortgage pools) and the nonfederal sectors (state and local governments, households and nonprofit organizations, nonfinancial
corporate and nonfarm noncorporate businesses, and farms). Nonfederal debt consists of mortgages, tax-exempt and corporate bonds, consumer credit, bank loans,
commercial paper, and other loans. The data, which are derived from the Federal Reserve Board's flow of funds accounts, are break-adjusted (that is, discontinuities in
the data have been smoothed into the series) and month-averaged (that is, the data have been derived by averaging adjacent month-end levels). The presentation of the
debt data in this release differ, therefore, from the quarterly flow of funds statistics contained in the Federal Reserve releases Z.7 and Z.1. In those releases, published
levels of credit market debt are measured on a quarter-end basis and contain discontinuities.




Page 3
H 6(508)
Tables

MONEY STOCK MEASURES

Billions of dollars
Seasonally adjusted
M1
Period ending
1995-JUNE 19
26

M3

M2

13-week
average

4-week
average

week
average

1146,0
1145.6

1143.5
1144.4

1144.8
1144.7

4-week
average

week
average

13-week
average

4-week
average

week
average

3658
3663

3685.9
3693.9

3699.5
3702.8

4404.7
4411.5

4443.4
4453.4

4462.8
4462.6

13-week
average

JULY

3
10
17
24
31

1145.4
1145.0
1144.3
1143 .7
1143.7

1144.1
1144.1
1143.2
1142.6
1144.3

1142.9
1144.0
1141.0
1142.4
1149.6

3668.7
3673.9
3679.4
3684.8
3690.2

3699.1
3703.3
3705.4
3709.3
3714.4

3702.8
3707.9
3708.2
3718.2
3723.1

4419.9
4427.5
4435.3
4443.3
4451.8

4461.5
4465.7
4470.5
4478.6
4488.3

4468.2
4469.3
4481.7
4495.0
4507.3

AUG.

7
14
21
28

1143.8
1143.8
1144.0
1144.2

1144.4
1144.9
1145.6
1144.2

1144.6
1143.0
1145.3
1143.7

3696.5
3702.7
3709.1
3714.8

3720.4
3727.0
3733.7
3739.4

3732.2
3734.6
3744.7
3745.9

4460.7
4468.8
4476.8
4484.7

4499.6
4506.5
4512.0
4516.5

4514.3
4509.2
4517.2
4525.4

SEP.

4p
HP

1144.0
1143.9

1143.6
1143.3

1142.2
1142.1

3720.1
3724.5

3743.7
3747.3

3749.6
3748.8

4491.9
4497.8

4520.4
4525.2

4529.8
4528.2

Not seasonally adjusted
1143 .6
1143 .2

1139, .4
1139, ,7

1139, .8
1118, ,5

3660 .2
3663 .9

3684 .4
3690 .4

3692 .9
3669 . 1

4405.2
4410.6

4444.6
4449.7

4455.6
4423.7

10
17
24
31

1143
1142
1140
1138
1138

.2
.7
.5
.7
.3

1138, , 1
1141. 9
1143. ,3
1145. ,4
1142. , 1

1145, 2
1164. ,0
1145. ,6
1126, ,6
1132. , 1

3667
3671
3675
3679
3684

.9
.8
.1
.2
.5

3691
3698
3704
3712
3713

.8
.7
.5
.3
.2

3699 .4
3733 .3
3716, .3
3700 .0
3703 .3

4417.5
4423.6
4428.9
4435.7
4444.2

4450.7
4454.3
4461.3
4473.8
4481.7

4453.3
4484.6
4483.5
4473.6
4485.0

AUG.

7
14
21
28

1138
1139
1140
1140

.9
.4
.2
.3

1139. 3
1138. 9
1141. 2
1 1 3 8 . ,0

1152. ,8
1143. ,9
1136. ,0
1119. . 1

3691
3698
3705
3711

.7
.5
.6
.2

3714
3720
3729
3732

.9
.3
.3
.9

3740 . 1
3737 .6
3736 .3
3717, .4

4453.8
4462.7
4471.2
4478.6

4490.7
4498.2
4507.1
4510.9

4520.8
4513.3
4509.1
4500.5

SEP.

4$)
HP

1139 ,7
1140 .2

1135. 6
1138. 6

1143. ,3
1156. .0

3715 .3
3719 ,9

3734 .7
3 7 4 1 .6

3747, .3
3765, .2

4484.6
4490.4

4512.4
4520.6

4526.5
4546.1

-JUNE 1 9

26
JULY

3

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.




Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Currency1

Date
1994 -APR.
MAY

Travelers checks 2

Demand deposits5

Other checkable deposits

Nontransactions components

At commercial
banks4
299.1
300.5
301.0

At thrift
institutions5
112.9
112.0
111.5

Total

In M26

In M3 only7

412.0
412.4
412.5

2462.6
2465.0
2458.2

645.2
642.7
651.0

JUNE

334.5
337.3
340.0

8.1
S*l
8*2

388.1
385.6
386.3

JULY
AUG.
SEP.

342.8
345.1
347.2

8.3
8.3
8.4

388.1
386.6
386.5

301.7
301.0
300.0

111.4
109.7
108.9

413.1
410.8
408.9

2464.5
2464.0
2463.0

657 . 5
658.9
665.9

OCT.
NOV.
DEC.

350.0
353.0
354.5

8.3
8.4
8.4

384.5
382.5
382.2

298.0
297.7
297.6

107.5
106.1
105.3

405.4
403.8
402.9

2461.7
2463.7
2468.2

676.3
680.1
687.2

1995-JAN.
MAR.

357.7
358.8
362.5

8.4
8.4

8.8

383.6
384.1
383.3

295.1
291.0
289.3

104.2
104.1
104.0

399.3
395.9
393.3

2478.9
2476.2
2483.0

698.2
712.2
727.7

APR.
MAY
JUNE ,

365.7
368.1
367.4

9.2
9.2
9.0

381.2
380.6
386.8

289.6
281.9
276,3

103.9
103.1
104.3

393.6
385.0
380.6

2494.1
2517.0
2551.9

737.3
750.3
761.0

JULY
AUG. p

367.1
368.3

8.9
8.9

389.5
390.1

275.7
272.2

103.7
104.2

379
376

2569.4
2596.4

773.0
777.5

366.7
367.1
367.9

8.9
8.9

387.0
387.9
394.1

275.0
275.6
275.1

103.4
102.9
103.6

378.4
378.5
378.7

2567.2
2575.8
2573.5

773.5
776.9
784.2

367.8
368.2
368.4
369.1

8.8
8.8
8.9
8.9

388.6
389.0
391.8
390.8

275.5
273.4
272.1
270.0

103.9
103.5
104.2
104.8

379.4
377.0
376.3
374.9

2587.6
2591.6
2599.4
2602.2

782 .2
774.6
772.5
779.5

368.4
368.4

8.9
8.9

387.8
389.7

270.5
270.0

106.6
105.1

377.0
375.1

2607.4
2606.7

780.2
779.4

FEB.

fading

1995-JULY 17
24
31
AUG.

SEP.

7
14
21
28
4p

HP
1.
2.
3.

8.8

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.
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), savings deposits (including money market deposit accounts)
and small time deposits. This sum is seasonally adjusted a s 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 overnight RPs and
Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted as a whole.

http://fraser.stlouisfed.org/
e
estimated
Federal Reserve
Bank of St. Louis

p

preliminary

Page 5
H.6 (508)
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
SmaD-danominationtimedeposits 2

Savings deposits1
Dale

p

At .
commercial
banks4
268.0
272.0
274.0

At
tflrift
institutions
61.8
60.4
61.0

1220.0
1214.8
1206.8

At
thrift
institutions
307.8
306.2
305.5

423.2
417.0
410.9

1201.2
1192.6
1183.7

470.0
476.1
481.2

306.6
306.8
308.3

776.5
782.8
789.6

376.1
377.0
377.4

178.7
177.4
176.3

276.4
280.1
285.1

62.0
61.9
63.1

338.4
342.0
348.2

765.4
759.2
752.3

405.6
398.5
391.9

1171.0
1157.8
1144.2

487.8
494.1
502.6

311.8
316.2
317.7

799.6
810.4
820.3

379.5
383.3
389.0

180.8
180.5
180.8

289.4
292.9
296.6

64.2
64.5
64.9

353.6
357.4
361.4

1995-JAN.
FEB.
MAR.

744.1
734.2
723.3

385.6
377.6
371.6

1129.8
1111.9
1094.9

512.7
524.2
537.8

323.0
331.2
340.4

835.7
855.4
878.2

392.1
391.5
390.9

186.3
180.4
189.0

295.2
303.1
308.5

66.7
68.1
70.1

361.9
371.2
378.6

APR.
MAY
JUNE

716.0
717.2
728.1

366.4
364.2
363.0

1082.4
1081.4
1091.1

548.1
556.2
562.4

348.7
354.5
355.1

896.8
910.7
917.5

396.0
405.3
425.9

192.9
194.8
205.6

309.1
315.6
319.1

71.2
70.4
70.8

380.3
386.0
389.9

JULY
AUG. p

730.7
739.8

360.7
358.8

1091.5
1098.7

566.7
568.8

355.0
355.2

921.7
924.0

441.5
455.1

212.4
210.8

324.2
326.8

72.6
73.2

396.8
400.0

731.3
731.6
731.7

360.6
360.6
359.9

1091.9
1092.2
1091.5

566.8
567.2
567.5

355.3
355.3
355.5

922.1
922.4
923.0

439.5
445.1
446.4

215.8
213.1
213.2

325.4
326.9
328.8

72.5
72.7
73.0

398.0
399.6
401.8

thrift
institutions
431.1
430.2
426.8

JULY
AUG.
SEP.

778.0
775.7
772.8

OCT.
NOV.
DEC.

Week e n d i n g
JULY 17
24
31

3.
4.

Large-denomination time deposits 3

At . ,
commercial
banks
462.3
464.6
467.4

AS
commercial
banks
788.9
784.6
780.0

1994-APR.
MAY
JUNE

1.
2.

General
purpose and
Institutionbroker/
only money
dealer
market funds
money
market funds
370.5
183.1
373.5
177.5
177.9
370.7

Total

Total
770.2
770.8
772.9

Total
329.8
332.4
335.0

AUG.

7
14
21
28

737.1
739.3
740.6
741.6

359.2
358.9
359.2
358.6

1096.3
1098.2
1099.8
1100.1

568.5
568.7
569.0
569.1

354.9
354.9
355.3
355.5

923.4
923.6
924.3
924.6

451,1
453.6
455.8
457.3

213.0
209.9
210.2
209.3

330.2
322.9
326.8
327.1

73.3
73.2
73.1
73.0

403.5
396.1
399.9
400.1

SEP.

4p
HP

741.6
744.3

357.8
357.3

1099.4
1101.6

568.8
568.7

355.8
356.1

924.6
924.7

461.6
461.2

213.1
213.3

327.5
328.0

73.4
73.3

401.0
401.3

S a v i n g s d e p o s i t s include m o n e y market deposit a c c o u n t s .
Small-denomination time deposits—including retail R P s — a r e t h o s e i s s u e d in a m o u n t s of l e s s t h a n $ 1 0 0 , 0 0 0 . All IRA a n d Keogh a c c o u n t b a l a n c e s at c o m m e r c i a l b a n k s
a n d thrifts a r e s u b t r a c t e d from small time deposits.
Large-denomination time d e p o s i t s a r e t h o s e issued in a m o u n t s of $ 1 0 0 , 0 0 0 or more, excluding t h o s e b o o k e d at international banking facilities.
Large-denomination time d e p o s i t s at commercial b a n k s less t h o s e held by m o n e y market mutual f u n d s , depository institutions, U.S. g o v e r n m e n t , a n d foreign b a n k s a n d
official institutions.
preliminary




Page 6

H.6(508)
Table 4 - continued

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

Savings bonds
1994-APR.

174.8
175.7
176.7

MAY

JUNE
JULY
AUG.

Short-term Treasury
securities1
354.8
361.1
357.2

Bankers acceptances 2

Commercial paper3

Federal debt

Non- Federal debt

15.9
15.6
14.9

384.5
392.2
387.0

3390.6
3402.5
3416.3

9167 .0
9210.9
9236.3

SB P .

177.7
178.5
179.1

360.8
365.0
360.6

13.2
13.8
14.8

391.1
395.4
390.2

3419.3
3436.6
3453.8

9260.3
9308.2
9350.1

OCT.
NOV.
DEC.

179.5
179.9
180.3

358.6
361.9
370.3

13.1
13.5
14.0

399.9
401.4
401.3

3469.3
3493.9
3497.4

9381,
9423 ,
9462

1995-JAN.
FEB.
MAR.

180.5
180.4
180.5

372.3
392.0
405.3

13.4
13.3
14.0

402.8
414.7
421.7

3504.7
3535.8
3557.5

9510.0
9558.9
9598.5

APR.
MAY
JUNE

181.6

180 , 9

182.3

404.2
397.5
410.8

13.9
12.3
11.3

430.8
443.8
427.5

3559.5
3577.0
3602.0

9668.6
9742.2
9772.9

183.0

433 . 7

11.8

428.0

3614.4

9794.2

JULY

1.

Debtcomponents 4

Non-M3 Components of L

Date

p

2.
3.
4.

Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal Reserve Banks, money
market mutual funds, and foreign entities.
Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds.
Total commercial paper less commercial paper held by money market mutual funds.
Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities.

p

preliminary




Table 5

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Currency1

Date

Travelers
checks 2

Demand
deposits3

Nontransactions components

Other checkable deposits

Overnight
Eurodollars*

MAY
JUNE

334.3
337.2
340.5

7.8
7.9
8.3

389.2
377.7
382.3

At commercial
banks4
306.4
298.1
299.5

JULY
AUG.
SEP.

344.7
345.7
347.0

8.8
8.9
8.8

387.3
383.1
384.7

298.4
297.2
297.4

111.6
109.0
108.3

410.0
406.2
405.6

2464.6
2463.4
2457.3

652.4
659.9
664.1

80.4
82.1
83.9

29.1
28.9
28.1

OCT.
NOV.
DEC.

349.6
353.2
357.6

8.5
8.2
8.1

387.9
390.8
400.3

294.1
296.0
300.6

107.4
107.1
107.0

401.4
403.1
407.6

2459.6
2464.2
2466.1

674.4
686.2
689.7

83.7
83.3
84.6

30.3
30.1
32.5

1995-JAN.
MAR.

355.9
357.1
361.4

8.1
8.1

388.9
375.0
374.1

301.3
292.3
291.1

104.4
101.8
103.0

405.7
394.1
394.2

2475.8
2475.4
2490.9

701.3
714.6
725.5

87.5
86.7
87.5

36.3
31.6
30.7

APR.
MAY
JUNE

365.5
367.9
368.1

8.9
9.2

8.8

382.0
372.8
382.6

296.6
279.7
274.9

105.7
102.6
104.3

402.3
382.4
379.2

2501.5
2515.5
2552.0

732.7
752.4
759.1

85.7

86.6
87.7

30.1
29.9
29.6

JULY
AUG. p

369.0
369.0

9.5
9.5

388.7
386.6

272.8
268.8

103.9
103.4

376.8
372.2

2569.8
2595.8

766.9
778.2

84.9
87.0

29.4
31.4

368.9
367.9
367.2

9.5
9.5
9.5

390.0
378.5
385.6

272.9
269.3
268.3

104.2
101.4
101.5

377.2
370.7
369.8

2570.7
2573.4
2571.2

767.2
773.7
781.6

84.3
84.8
82.9

27.9
29.4
30.8

1994-APR.

FEB.

W**k f a d i n g

1995-JULY 17
24
31

8.4

At thrift
institutions5
115.0
111.6
111.7

Total

In M2®

421.4
409.7
411.2

2470.0
2463.1
2458.1

641.3
644.6
649.5

77.6
78.4
80.6

21.3
24.1
26.2

In M3 only7

AUG.

7
14
21
28

371.0
370.0
368.9
367.2

9.5
9.5
9.5
9.5

389.8
389.5
387.4
378.8

275.6
271.1
267.6
263.1

106.9
103.8
102.5
100.6

382.5
374.9
370.2
363.7

2587.3
2593.7
2600.3
2598.3

780.8
775.7
772.7
783.1

84.4
85.0
89.3
87.8

29.2
30.8
32.4
33.0

SEP.

4p
HP

369.9
370.3

9.5
9.4

387.3
395.7

270.3
273.1

106.3
107.6

376.6
380.7

2604.0
2609.2

779.2
780.9

90.6
88.7

31.6
32.3

1.
2.
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 d e m a n d deposits.
Demand deposits at commercial banks and foreign-related institutions other than those d u e 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), savings deposits (including money market deposit accounts) 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 R P s 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).


Page 8
H.6(508)
Table 5 - continued

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

1223.4
1215.9
1210.4

At .
commercial
banks
461.8
463.7
467.0

thrift
institutions
307.5
305.5
305.2

769.3
769.2
772.2

General
purpose and
broker/
dealer
money ,
market funds
378.3
375.4
368.7

424.3
417.7
410.8

1204.3
1194.6
1183.6

470.5
476.6
481.8

306.9
307.1
308.7

777.5
783.7
790.5

765.5
761.4
751.1

405.7
399.7
391.2

1171.1
1161.0
1142.3

488.4
493.8
502.2

312.1
316.1
317.4

1995-JAN.
FEB.
MAR.

739.5
729.8
723.4

383.2
375.3
371.6

1122.7
1105.1
1095.0

513.1
524.4
537.6

APR.
MAY
JUNE

717.8
717.8
730.2

367.4
364.5
364.1

1085.2
1082.3
1094.3

JULY
AUG. p

732.6
741.2

361.7
359.5

734.9
731.9
730.8

Savings deposits 1
Date

3.
4.

Institutiononly money
market funds

Large-denomination time deposits 3

181.8
176.8
172.5

thrift
institutions
61.4
60.9
61.3

327.7
335.0
336.6

373.4
374.2
371.3

173.8
176.2
172.6

275.4
281.4
286.2

61.8
62.2
63.3

337.1
343.6
349.6

800.5
809.9
819.6

373.9
379.9
387.1

178.1
182.5
183.1

290.0
294.4
296.3

64.3
64.8
64.8

354.3
359.1
361.1

323.3
331.3
340.3

836.4
855.7
877.9

392.8
396.3
399.8

192.4
188.8
190.8

293.8
301.6
306.4

66.4
67.8
69.7

360.2
369.4
376.1

547.5
555.1
562.0

348.3
353.8
354.8

895.8
908.9
916.8

404.8
407.8
423.6

191.3
193.8
199.2

306.9
318.1
320.6

70.7
70.9
71.1

377.7
389.0
391.7

1094.2
1100.7

567.5
569.4

355.4
355.6

922.9
925.0

438.4
451.8

206.6
209.3

322.9
328.2

72.3
73.5

395.1
401.8

362.3
360.8
359.5

1097.2
1092.7
1090.3

567.6
567.9
568.1

355.8
355.8
355.9

923.5
923.6
923.9

437.8
442.8
443.3

209.2
209.1
210.2

323.8
326.0
328.7

72.1
72.5
72.9

395.9
398.5
401.7

At
thrift
institutions
432.3
430.6
428.1

JULY
AUG.
SEP.

780.0
777.0
772.7

OCT.
NOV.
DEC.

ending
1995-JULY 17
24
31

Small-denomination time deposits 2

At
commercial
banks4
266.3
274.1
275.3

At
commercial
banks
791.1
785.3
782.3

1994-APR.
MAY
JUNE

1.
2.

1

"

Total

Total

Total

AUG.

7
14
21
28

740.3
742.4
740.9
740.0

360.7
360.4
359.4
357.8

1101.0
1102.7
1100.3
1097.9

569.3
569.4
569.5
569.4

355.4
355.4
355.6
355.7

924.7
924.8
925.0
925.0

447.9
450.4
453.3
454.6

209.9
208.8
208.9
209.7

330.1
324.2
328.2
330.0

73.3
73.5
73.4
73.6

403.4
397.6
401.7
403.7

SEP.

4p
lip

743.6
748.5

358.8
359.4

1102.4
1107.9

569.4
569.3

356.2
356.4

925.6
925.7

453.8
454.5

208.9
210.5

329.4
330.7

73.9
73,9

403.2
404.6

S a v i n g s d e p o s i t s include m o n e y m a r k e t d e p o s i t a c c o u n t s .
S m a l l - d e n o m i n a t i o n time d e p o s i t s — i n c l u d i n g retail R P s — a r e t h o s e i s s u e d in a m o u n t s of l e s s t h a n $ 1 0 0 , 0 0 0 . All IRA a n d K e o g h a c c o u n t b a l a n c e s at c o m m e r cial b a n k s a n d thrifts a r e s u b t r a c t e d from small t i m e d e p o s i t s .
L a r g e - d e n o m i n a t i o n time d e p o s i t s a r e t h o s e i s s u e d in a m o u n t s of $ 1 0 0 , 0 0 0 or more, excluding t h o s e b o o k e d at international b a n k i n g facilities.
L a r g e - d e n o m i n a t i o n time d e p o s i t s at c o m m e r c i a l b a n k s l e s s t h o s e held by m o n e y m a r k e t mutual f u n d s , depository institutions, U.S. g o v e r n m e n t , a n d foreign
b a n k s a n d official institutions.

p
preliminary



Page 9

H.6(508)
Table 5 - continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Term RPs1
Date

1.
2.
3.
4.
5.
6.

Term
Eurodollars2

At commercial
banks

At thrift
institutions

1994-APR.
MAY
JUNE

71.1
68.8
71.8

27.4
28.8
30.3

98.6
97.6
102.1

46.5
47.7
50.3

JULY
AUG.
SEP.

70.8
68.2
68.3

32.0
32.8
33.4

102.8
101.0
101.7

OCT.
NOV.
DEC.

67.2
67.5
67.8

34.8
35.6
37.7

1995-JAN.
FEB.
MAR.

70.3
73.3
72.6

APR.
MAY
JUNE
JULY
AUG. p

wfrLaq
1995-JULY 17
24
31

Debt components 6

Non-M3 Components of L
Short-term

2ss»

Bankers
acceptances 4

175.4
176.2
176.9

352.7
359.2
354.0

15.6
15.3
14.5

384.7
384.7
385.2

3376.8
3379.7
3394.5

9122.5
9161.1
9202.8

51.0
51.2
52.1

177.4
177.9
178.4

358.4
366.9
353.4

13.1
13.5
14.4

387.8
389.6
391.5

3393.9
3418.3
3438.3

9237.3
9274.2
9321.9

101.9
103.1
105.6

= 52.7
54.5
52.4

179.0
179.7
180.2

350.7
365.8
379.3

13.3
13.6
14.4

404.2
405.3
403.6

3448.5
3485.2
3499.0

9363.4
9404.7
9452.7

39.2
40.1
40.8

109.4
113.4
113.4

53.1
56.3
58.3

180.6
180.8
181.2

376.9
393.5
409.6

14.2
13.9
13.9

410.5
415.3
420.4

3499.0
3525.0
3551.1

9490.5
9517.0
9557.0

74.7
78.5
76.9

41.8
43.2
42.9

116.5
121.7
119.8

59.8
60.7
61.7

181.7
182.1
182.4

402.1
395.9
407.6

13.7
12.0
11.0

430.8
434.7
425.5

3544.1
3552.6
3579.3

9615.8
9674.2
9729.7

72.4
73.6

42.8
43.9

115.2
117.5

63.0
62.6

182.8 p

430.9 p

11.7 p

424.4 p

3588.8 p

9764.9 p

69.8
73.0
75.3

42.8
43.0
43.0

112.6
116.0
118.2

62.8
63.3
64.1

Total

AUG.

7
14
21
28

74.3
76.2
69.5
74.5

43.7
43.8
44.0
44.1

118.0
119.9
113.5
118.6

62.2
62.5
61.9
64.1

SEP.

4p
HP

73.3
72.0

44.1
44,2

117.4
116.2

62.3
62.9

Savings bonds

Commercial
paper6

Federal debt

Non-Federal
debt

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 banking offices in the United Kingdom and Canada. Excludes those held by depository institutions and money market mutual funds.
Consists of U.S. Treasury bills and coupons with remaining maturities of 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.

preliminary
Digitizedpfor FRASER


Page 10

H.6 (508)
Table 6

MEMORANDUM ITEMS

Billions of dollars, not seasonally adjusted

Foreign
commercial
banks

Foreign
official
institutions

1994-APR.
MAY
JUNE

8 .6
8.1
8 .2

1.5
1.5
1.5

Time and
savings
deposits
due to
foreign
banks and
official
institutions
12. 9
13. 0
13. 1

JULY
AUG.
SEP.

8 .3
7 .7
8.1

1.5
1.5
1.5

OCT.
NOV.
DEC.

8 .0
8 .3
8 .6

1995-JAN.
FEB.
MAR.

Demand deposits
at banks due to

IRA and Keogh Accounts
Time and

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note
balances at
depository
institutions

Total
cash
balance

7.1
4.2
5.3

5.6
5.9
5.9

20..8
24,,3
18,.4

33.5
34.4
29 * 6

commercial
banks
2.1
3.1
2.9

13. 4
14. 0
14. 6

4.8
3.9
5.8

5.4
5.1
6.0

11 .3
10.. 1
16 .9

21.5
19.0
28.8

1.6
1.8
1.6

14. 8
14. 6
14. 4

4.3
3.9
5.7

5.6
5.2
6.2

12 . 1
9 .8
13,.4

0 .4
7 .9
8 .0

1.6
1.6
1.6

14. 0
13. 3
12. 7

4.9
3.3
3.4

7.0
5.9
5.2

APR.
MAY
JUNE

7 .6
8 .1
8 .0

1.6
1.5
1.6

12. 3
12. 3
12. 3

5.5
3.1
4.5

JULY
AUG. p

8 .3
7 .4

1.5
1.5

12. 3
12. 3

8 .3
7 .7
7 .9

1.6
1.5
1.5

Date

W?*k tatiintr
1995-JULY 17
24
31

e
p

U.S. government deposits

At
money
market
funds

Total

112.6
112.2
111.5

54.8
56.4 e
56.8 e

309.6
310.9 e
310.6 e

2.7
2.9
2.5

142.6
142.6
142.7

110.7
109.7
108.7

55.9 e
56.1 e
56.8 e

309.2 e
308.4 e
308.1 e

22.0
18.9
25.3

2.2
1.9
1.3

142.7
142.9
143.3

108.3 •
108.4 e
108.2 e

58.3 e
59.4 e
59.7 e

309.3 e
310.7 e
311.1 e

20..0
21.. 1
10 . 1

31.9
30.3
18.8

1.2
2.3
2.4

143.7
144.6
145.6

108.4 •
108.8 •
109.0 •

59.7 e
59.9 e
60.1 e

311.8 e
313.3 e
314.6 e

6.2
5.7
7.9

12 .4
18 .7
19..6

24.1
27.5
32.0

2.6
2.6
2.6

146.4
146.8
147.8

109.3 #
109.4 •
109.4 •

60.3 e
60.6 e
60.9 e

315.9 e
316.7 e
318.2 e

3.3
2.9

6.6
5.3

27 .7
13 .6

37.6
21.8

2.8
2.9

149.2
149.9

109.6 e
109.6 •

61.2 e
61.5 e

319.9 e
321.0 •

12. 3
12. 3
12. 3

3.9
2.6
2.9

5.6
5.3
6.3

24 .5
27 .7
32 .3

34.0
35.5
41.6

3.0
3.0
3.0

7
14
21
28

7 .5
7 .1
7 .3
7 .6

1.5
1.6
1.5
1.5

12. 3
12. 3
12. 3
12. 3

3.0
2.6
3.2
2.5

5.4
5.3
5.5
4.9

25 .4
16 .9
7 .3
7 .8

33.8
24.9
16.0
15.2

2.9
2.9
2.9
2.9

SEP.

4p
HP

7 .7
7 .5

1.5
1.8

12. 3
12. 3

3.7
3.5

5.3
4.6

6 .5
3 .6

15.4
11.6

2.9
2.6




At
thrift
institutions

142.2
142.2
142.3

AUG.

estimated
preliminary

At
commercial
banks