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