Full text of H.6 Money Stock Measures : September 22, 1994

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

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

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

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

Billions of dollars
Date

SEPTEMBER 22,1994

M11

M22

M33

L4

DEBT5

Seasonally adjusted
1992-SEP.
OCT.
NOV.
DEC.

989.2
1004.2
1016.6
1024.8

3496.6
3507.5
3510.5
3509.0

4200.4
4197.0
4194.1
4183.1

5056.7
5058.5
5065.4
5057.2

11588.7
11613.6
11647.4
11697.8

1993-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

1033.0
1035.4
1040.2
1047.1
1067.7
1076.6
1086.8
1095.3
1105.1
1113.4
1122.4
1128.4

3502.8
3494.2
3494.8
3498.0
3521.9
3528.7
3533.7
3536.1
3544.3
3548.0
3560.3
3567.9

4162.7
4156.7
4155.7
4163.3
4188.9
4189.1
4188.3
4188.4
4197.6
4205.4
4219.0
4232.0

5040.3
5036.3
5037.6
5055.7
5089.5
5090.8
5087.6
5096.5
5089.7
5100.3
5113.8
5134.4

11728.4
11763.6
11817.0
11879.6
11943.2
12000.8
12053.4
12109.5
12163.1
12199.2
12253.2
12320.3

1994-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG. p

1133.5
1138.6
1142.4
1141.1
1142.9
1146.4
1153.7
1152.2

3573.2
3569.4
3583.5
3592.1
3596.1
3589.4
3603.2
3597.2

4236.3
4209.8
4218.3
4227.9
4226.4
4226.4
4248.0
4241.3

5154.6
5143.1
5143.4
5163.0
5163.2
5155.0
5186.1 p

12363.8
12413.5
12482.5
12540.2
12591.5
12627.7
12654.3 p

1992-SEP.
OCT.
NOV.
DEC.

983.6
1001.8
1022.4
1046.7

3486.7
3504.6
3517.4
3527.6

4190.0
4190.5
4203.6
4198.3

5045.2
5050.4
5083.6
5087.7

11554.7
11582.4
11637.7
11700.6

1993-JAN.

1041.0
1023.0
1031.6
1058.7
1058.1
1073.2
1084.6
1088.8
1099.1
1129.6
1153.8

3508.3
3484.2
3495.8
3515.2
3507.3
3524.4
3530.0
3529.0
3533.9
3546.0
3569.0
3590.5

4163.3
4150.1
4158.4
4178.5
4179.9
4185.4
4181.4
4185.1
4186.8
4199.8
4230.6
4251.3

5054.0
5030.9
5043.7
5065.1
5067.5
5080.3
5073.0
5086.3
5077.6
5092.8
5135.0
5169.3

11714.1
11725.6
11773.7
11824.6
11878.3
11955.5
12010.3
12061.3
12123.1
12162.7
12231.5
12316.0

1142.8
1124.7
1131.9
1153.1
1132.8
1142.6
1151.6
1145.2

3579.8
3557.3
3581.9
3609.4
3581.5
3585.3
3599.4
3589.5

4237.2
4200.6
4218.2
4243.6
4217.4
4223.0
4241.0
4237.3

5168.8
5134.7
5147.3
5172.1
5140.0
5144.5
5171.5 p

12358.7
12387.6
12441.5
12481.2
12522.0
12581.1
12613.5 p

Not seasonally adjusted

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

1111.8

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
M2

M3

DEBT1

3 M o n t h s f r o m MAY

1 9 9 4 t o AUG. 1 9 9 4

3.3

0.1

1.4

3.6

6 M o n t h s f r o m FEB.

1 9 9 4 TO AUG. 1 9 9 4

2.4

1.6

1.5

4.7

12 M o n t h s f r o m AUG. 1 9 9 3 TO AUG. 1 9 9 4

5.2

1.7

1.3

5.0

3.3

0.6

1.4

T h i r t e e n w e e k s e n d i n g SEPTEMBER 1 2 ,
from t h i r t e e n weeks ending:
JUNE 1 3 , 1 9 9 4 ( 1 3 w e e k s p r e v i o u s )

1.

M1

1994

MAR. 1 4 ,

1994

(26 weeks p r e v i o u s )

2.9

1.4

0.8

SEP.

1993

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

5.7

1.8

1.2

13,

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, April 1994 to July 1994, January 1994 to July 1994,
and July 1 9 9 3 to July 1994, 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 funas. Also excludes ail 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 tnis result to seasonally adjusted M1.
Consists of M2 plus large-denomination time deposits (in amounts of $ 1 0 0 , 0 0 0 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 a s a whole and then adding this result to seasonally adjusted M2.
Consists of M3 plus the nonbank public holdings of U.S. savings bonds, snort-term Treasury securities, commercial paper and bankers acceptances, net of money market
mutual fund holdings of t h e s e a s s e t s .
Debt of domestic nonfinancial sectors consists of outstanding credit market debt of the U.S. government, state and local governments and private nonfinanciai 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 R e s e r v e 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. T h e s e 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.1. In those releases,
published levels of credit market debt are measured on a quarter-end basis and include discontinuities.




Page 3

H.6 (508)
Table 3

MONEY STOCK MEASURES
Billions of dollars
Seasonally adjusted
M1
Period ending

AUG.

SEP.

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

1143.2
1143.4

1145.8
1147.2

1149.7
1148.7

3591.9
3592.0

3591.4
3589.9

3588.4
3590.0

4226.1
4226.4

4228.1
4226.9

4226.3
4225.3

4
11
18
25

1143.2
1143.7
1144.9
1146.6

1147.4
1148.4
1149.2
1151.6

1145.4
1149.9
1152.7
1158.5

3592.8
3592.7
3593.4
3595.0

3591.0
3592.9
3596.3
3600.7

3596.0
3597.2
3601.8
3607.9

4227.3
4227.9
4228.7
4231.5

4228.6
4231.1
4236.4
4244.6

4232.9
4239.9
4247.4
4258.0

1
8
15
22
29

1148.2
1148.6
1149.1
1149.9
1150.8

1155.0
1154.5
1153.5
1152.5
1151.5

1158.9
1147.9
1148.6
1154.7
1154.7

3596.8
3596.7
3596.7
3596.6
3596.8

3603.9
3602.3
3601.2
3599.5
3596.8

3608.6
3590.9
3597.2
3601.1
3597.9

4234.4
4235.5
4236.6
4237.7
4238.7

4249.8
4248.7
4246.5
4243.5
4240.8

4253.8
4235.5
4238.6
4246.2
4243.0

5p
12p

1151.6
1152.1

1153.4
1154.3

1155.7
1152.2

3597.0
3597.4

3597.6
3597.2

3594.3
3595.5

4239.7
4240.8

4241.7
4243.1

4238.9
4244.1

1994-JUNE 20
27
JULY

M2

Not seasonally adjusted
1142.5
1142.7

1143.5
1143.3

1142.6
1121.2

3592.9
3591.9

3590.0
3586.4

3580.9
3555.2

4229.0
4228.0

4230.7
4225.1

4218.6
4189.8

4
11
18
25

1142.4
1142.5
1141.7
1141.7

1142.9
1146.8
1149.3
1152.5

1155.8
1167.5
1152.7
1133.9

3591.3
3589.7
3587.9
3587.8

3584.8
3588.8
3594.3
3600.2

3600.4
3618.6
3602.9
3578.7

4227.3
4226.0
4224.3
4225.2

4221.5
4223.1
4230.0
4239.1

4229.3
4254.5
4246.2
4226.4

1
8
15
22
29

1142.6
1143.6
1144.6
1146.1
1146.6

1149.6
1147.1
1147.1
1148.5
1144.7

1144.3
1157.6
1152.7
1139.5
1129.0

3589.2
3590.0
3591.1
3592.0
3591.8

3597.4
3593.3
3593.4
3595.2
3589.6

3589.5
3602.2
3603.2
3585.7
3567.3

4227.8
4229.8
4231.9
4233.7
4234.1

4240.8
4239.5
4240.3
4242.2
4237.7

4236.2
4249.2
4249.5
4233.8
4218.2

5p
12p

1146.8
1147.5

1145.3
1147.4

1159.8
1161.4

3591.0
3591.3

3588.0
3589.0

3595.9
3607.0

4233.9
4234.6

4235.5
4237.7

4240.5
4258.2

1994-JUNE 20
27
JULY

AUG.

SEP.

Note: Special caution should be taken in interpreting week-to-week changes in money supply data, which are highly volatile and subject to revision,
p

preliminary data.




Page 4

H.6 (508)
Table 4

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

Travelers checks2

Demand deposits3

Other checkable deposits

Nontransactions components

At commercial
banks4

At thrift
institutions5

Total

In M26

In M3 only7

1993-APR.
HAY
JUNE

301.8
304.4
307.2

8.1
8.1
8.0

349.0
358.8
362.2

284.2
290.3
292.4

104.1
106.1
106.8

388.2
396.4
399.2

2450.9
2454.1
2452.1

665.3
667.1
660.4

JULY
AUG.
SEP.

309.7
312.4
315.4

7.9
7.8
7.8

366.4
370.9
375.4

294.8
295.9
297.8

108.0
108.3
108.8

402.8
404.2
406.6

2446.9
2440.8
2439.2

654.6
652.3
653.3

OCT,
NOV.
DEC.

317.6
319.5
321.4

7.8
7.9
7.9

378.4
383.2
384.8

299.1
300.8
302.6

110.4
111.0
111.7

409.5
411.8
414.3

2434.7
2437.9
2439.5

657.3
658.6
664.1

1994-JAN.
FEB.
MAR.

325.2
329.2
332.4

7.9
7.9
8.0

388.3
390.3
390.0

300.4
299.2
300.0

111.6
112.0
112.0

412.0
411.2
411.9

2439.6
2430.9
2441.1

663.1
640.3
634.8

APR
MAY
JUNE

334.8
337.6
340.3

8.1
8.1
8.1

388.9
385.8
386.6

298.3
300.8
301.3

111.0
110.5
110.1

409.3
411.2
411.4

2451.0
2453.3
2443.0

635.8
630.2
637.1

JULY
AUG. p

343.2
345.4

8.2
8.3

389.6
388.3

302.4
301.2

110.2
109.0

412.7
410.2

2449.4
2445.0

644.8
644.1

342.5
343.6

8.2
8.3

390.6
393.0

301.9
302.9

109.5
110.7

411.4
413.6

2449.2
2449.5

645.5
650.0

Week e p d i n g
1994™JULY 1 8
25

1.
2.
3.

Currency1

AUG.

1
8
15
22
29

344.8
344.4
344.7
345.4
347.0

8.3
8.3
8.3
8.4
8.4

393.0
384.8
386.6
390.5
388.7

302.1
301.2
300.2
301.4
302.1

110.7
109.2
108.8
109.1
108.6

412.8
410.4
409.0
410.4
410.6

2449.7
2443.0
2448.6
2446.4
2443.2

645.2
644.6
641.3
645.1
645.1

SEP.

5p
12p

347.0
346.3

8.4
8.5 e

389.9
389.0

301.2
300.5

109.2
107.8

410.4
408.3

2438.6
2443.4

644.6
648.6

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated travelers c h e c k s 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), l e s s the estimated amount of overnight R P s and

Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted a s a whole.


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

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Savings deposits1
Date

Large-denomination time deposits3
At
commercial
banks4

At
thrift
institutions

1185. 5
1195. 1
1200. 4

4 9 6 . ,6
4 9 1 . ,9
4 8 7 . ,5

342. 8
340. 5
336. 3

839 . 4
832 . 4
823 . 9

3 4 5 . .9
3 4 8 ..5
3 4 7 ..5

1 9 6 ..3
1 9 8 ..0
1 9 4 . .7

2 8 3 . ,6
2 8 3 .,6
2 8 0 . .9

65. 3
64. 7
64. 4

348.8
348.2
345.3

4 3 0 . .4
4 3 0 . .5
4 3 0 . .4

1202. 1
1205. 9
1208. 4

4 8 3 . .0
4 7 8 . .6
4 7 5 . .4

331. 5
328. 0
324. 5

8 1 4 . ,5
8 0 6 . ,6
7 9 9 . .9

3 4 6 . .6
3 4 5 ..5
3 4 5 ..0

1 9 2 ..6
1 9 0 .. 1
1 9 0 .. 8

2 7 7 ..4
2 7 7 ..8
2 7 6 ..6

64. 5
63. 9
63. 8

341.8
341.6
340.4

7 7 8 . .4
7 8 2 . .4
7 8 5 . .3

4 3 0 . .4
4 2 9 . .5
430. 2

1 2 0 8 . ,8
1 2 1 1 . .9
1 2 1 5 . .5

4 7 2 . .4
4 6 9 ,. 5
4 6 8 ..5

322. 4
321. 1
3 1 7 .,1

7 9 4 . .9
7 9 0 ..6
7 8 5 . .6

3 4 4 ..4
347 .0
3 4 8 .. 8

1 9 4 .. 3
194 .8
197 .0

2 7 7 . .9
2 7 5 . .9
2 7 7 .. 1

63. 7
6 3 . ,5
6 1 . .8

341.6
339.4
339.0

1994-JAN.
FEB.
MAR.

790.1
791.1
790.2

430.2
429 . 8
431.7

1220.3
1220.9
1221.9

465.5
463.9
462.6

314.0
310.5
308.6

779.5
774.5
771.1

347.8
343.7
348.4

192.7
176.9
177.4

279.5
274.0
270.0

62.0

341.5
335.7
330.9

APR.
HAY
JUNE

788.2
784.2
779.2

432.5
431.7
428.0

1220.7
1215.9
1207.2

461.6
464.0
466.6

307.0
305.1
303.8

768.6
769.1
770.4

361.5
365.1
359.3

177.0
169.3
169.5

269.3
273.7
273.8

61.2
60.1

330.5
333.5
333.9

JULY
AUG. p

777.7
776.1

424.6
418.6

1202.4
1194.8

468.8
474.8

303.7
302.9

772.5
777.6

363.5
362.9

170.9
169.3

275.9
279.4

60.8
60.5

336.6
340.0

778.3
777.6

424.6
424.1

1202.9
1201.7

468.6
469.5

303.5
304.4

772.2
773.9

364.7
363.4

168.1
169.6

277.5
279.3

61.0
60.7

338.5
340.0

29

776.7
775.7
775.2
776.4
777.3

423.0
420.5
419.0
418.4
417.1

1199.7
1196.2
1194.2
1194.8
1194.3

469.9
472.6
474.5
475.3
476.5

304.7
303.4
302.9
302.6
302.4

774.7
776.1
777.4
777.9
778.9

363.1
364.9
364.5
363.9
359.6

168.3
172.3
171.3
171.0
163.9

277.4
278.4
279.7
279.1
280.4

60.7
60.7
60.5
60.4
60.4

338.1
339.2
340.2
339.5
340.8

5p
12p

776.0
775.9

414.7
413.0

1190.7
1188.9

477.3
478.5

302.6
303.5

780.0
782.0

358.0
362.0

165.3
164.0

280.7
283.2

61.0

341.7
344.4

•APR.
MAY
JUNE

7 5 9 ..5
7 6 6 . .7
7 7 1 . .0

4 2 6 . .0
4 2 8 . .4
4 2 9 . .4

JULY
AUG.
SEP.

7 7 1 . .7
7 7 5 . .4
7 7 8 . .0

OCT.
NOV.
DEC.

1
8
15

22

SEP.

p

Institutiononly money
market funds

At
thrift
institutions

At
thrift
institutions

AUG.

3.
4.

purpose and
broker/dealer
money
market funds

At
commercial
banks

At .
commercial
banks

Week e n d i n g
1994-JULY 18
25

1.
2.

Small-denomination time deposits2
Total

Total

61.7
60.9

59.8

61.1

Total

Savings deposits include money market deposit accounts.
Small-denomination time deposits—including retail RPs—are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial banks and
thrifts are subtracted from small time deposits.
Large-denomination time deposits are those issued in amounts of $ 1 0 0 , 0 0 0 or more, excluding those booked at international banking facilities.
Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. government, and foreign banks and official
institutions.
preliminary




Page 6

H.6 (508)
Table 4 - continued

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

Savings bonds

Short-term Treasury
securities1

Bankers acceptances2

Commercial paper3

Federal debt

Non-Federal debt

19.3
19.2
18.5

367.1
371.8
370.9

3154.9
3182.6
3210.2

8724.8
8760.7
8790.6

1993-APR.
MAY
JUNE

163.6
164.7
165.9

342.4
344.8
346.5

JULY
AUG.
SEP.

167.1
168.2
169.2

344.3
343.8
328.0

17.4
16.5
16.4

370.4
379.5
378.4

3227.3
3248.5
3267.5

8826.1
8860.9
8895.6

OCT.
NOV.
DEC.

170.1
170.8
171.7

323.7
324.6
329.3

16.4
15.3
14.6

384.7
384.1
386.8

3269.4
3294.6
3327.4

8929.8
8958.5
8992.8

1994-JAN.
FEB.
MAR.

172.7
173.4
174.1

339.1
341.6
345.8

14.9
15.3
15.7

391.6
403.0
389.6

3337.8
3354.5
3379.5

9025.9
9059.0
9103.1

APR.
MAY
JUNE

174.8
175.7
176.6

361.2
358.7
348.9

14.1
11.4
10.5

384.9
391.0
392.6

3390.6
3402.5
3416.3

9149.7
9189.1
9211.4

177.5

357.2

10.7

392.7

3419.8

9234.5

JULY

1.

Debt components4

Non-M3 Components of L

Date

p

2.
3.
4.

Consists of U.S. Treasury bills and coupons with remaining maturities of l e s s 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




Page?

H.6 (508)
Table 5

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

Date

Demand
deposits3

At commercial
banks4

At thrift
institutions5

Total

350.5
352.0
359.6

291.9
287.6
290.6

107.3
106.2
107.5

399.2
393.8
398.0

2456.4
2449.2
2451.2

663.4
672.5

365.9
367.9
373.1

290.9
292.1
295.0

108.5
107.7
108.0

399.3
399.7
403.0

301.3
304.4
307.4

7.8
7.9

JULY
AUG.
SEP.

311.0
312.8
314.8

8.4
8.4

OCT.
NOV.
DEC.

317.3
319.8
324.9

7.7
7.6

381.1
391.1
402.6

295.6
299.6
306.3

109.8
111.4
112.4

1994-JAN.
FEB.
MAR.

324.0
327.3
330.7

7.7
7.7
7.8

393.1
380.6
380.7

306.8
299.6
301.6

111.2

APR.
MAY
JUNE

334.4
337.4
340.6

7.8
7.9
8.3

390.3
378.8
383.5

JULY
AUG. p

344.8
345.7

8.8
8.9

AUG.

8.2
8.0

6

In M2

Overnight RPs8

7

In M3 only

661.0

14.7
13.5
13.7

2445.3
2440.2
2434.8

651.4
656.1
652.9

67.7
67.5
70.7

13.5
14.7
14.9

405.3
410.9
418.6

2434.3
2439.4
2436.7

653.8
661.5
660.9

72.3
73.2
74.5

17.2
17.4
17.8

109.5
111.3

417.9
409.1
412.9

2437.0
2432.7
2450.0

657.3
643.2
636.3

77.2
76.6

18.0
16.9
18.4

306.3
298.0
299.4

114.3
110.7
110.7

420.6
408.7
410.1

2456.3
2448.6
2442.7

634.2
635.9
637.7

80.1
80.6
82.9

16.7
19.3
21.5

388.9
384.9

298.4
297.3

110.8
108.3

409.1
405.6

2447.8
2444.3

641.5
647.8

83.2
84.7

25.2
24.6

25.2
24.7

80.1

8.8

391.8
379.7

297.6
294.0

110.4
107.5

408.0
401.5

2450.2
2444.8

643.2
647.7

81.8

8.9
9.0
9.0
9.0
8.9
8.9

387.3
387.4
390.1
382.0
377.5

294.7
301.7
298.1
296.3
293.3

109.4

404.2
413.8
407.2
403.1
398.2

2445.2
2444.5
2450.5
2446.2
2438.2

646.7
647.1
646.3
648.0
650.9

84.4
81.3
87.5

29

343.8
347.5
346.4
345.5
344.4

5p
12p

348.2
347.7

8.9
8.9

390.6
391.8

301.7
302.8

412.1
413.0

2436.1
2445.6

644.7
651.2

1
22

e

Overnight
Eurodollars9

62.5
61.7
64.8

344.2
343.8

8
15

SEP.

8.2

Nontransactions components

Other checkable deposits

1993-APR.
MAY
JUNE

Week e n d i n g
1994-JULY 18
25

1.
2.
3.

Travelers
checks2

112.1
109.2

106.8
104.9
110.4

110.2

83.1

86.0
84.5
83.5

86.6

26.3
23.0
23.9
24.9
26.2
24.6
23.9

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, l e s s 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 a g e n c i e s 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. S u m of large time deposits, term R P s and Eurodollars of U.S. residents, money market fund balances (institution-only), l e s s 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).
Digitized efor FRASER
estimated
p
preliminary


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

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

Date

3.
4.

p

-

broker/dealer
money
market funds

Institutiononly money
market funds

Large-denomination time deposits 3
At
thrift
institutions
6 5 ..1
65. 2
6 4 . .8

1 1 8 9 .,3
1 1 9 5 . ,8
1 2 0 4 . .5

At
commercial
banks
49 6 ., 1
4 9 0 . .7
487 .. 1

At
thrift
institutions
342. 4
339 . 7
336. 0

838.5
830.5
823.0

3 5 1 , .4
347 ,7
3 4 5 .2 .

1 9 5 . .6
199 ..7
1 9 1 . ,0

At .
commercial
banks 4
2 8 2 . .7
2 8 5 . .8
2 8 2 ..8

431. 4
430. 8
429. 7

1 2 0 5 . .0
1 2 0 6 . .9
1 2 0 6 . .4

483 ..9
479 ..6
4 7 6 . .7

332 . 2
328. 6
3 2 5 . ,4

816.1
808.2
802.0

343 .0
343 .0
340 .8

1 8 8 . .6
1 9 0 ,. 1
1 8 7 ,. 5

277,. 1
279,.5
277 .6

6 4 . .4
6 4 . .3
6 4 . .0

341.5
343.8
341.6

7 7 7 . .7
7 8 4 , .0
7 8 3 , .9

4 3 0 . ,0
430. 4
4 2 9 ..4

1 2 0 7 . .7
1 2 1 4 . .4
1 2 1 3 . .2

4 7 3 . .3
4 6 8 , .8
467 ,.6

323 ..0
3 2 0 . .7
3 1 6 . .4

796.3
789.5
783.9

3 4 0 .7
345 .0
347 .2

189 ,.2
1 9 4 ,.0
195 .8

277 .6
276 .2
276 .0

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

341.3
339.8
337.6

1994-JAN.
FEB.
MAR.

786.1
787.7
791.3

428 .0
427.9
432.3

1214.
1215.
1223.

465.6
463.8
462.1

314.1
310.4
308.3

779.7
774.2
770.4

348.1
349.4
357.4

196.2
186.1
180.5

276.5
272.3
269.8

61.4
61.3
60.9

337.8
333.6
330.7

APR.
MAY
JUNE

790.6
784.8
781.9

433.8
432.0
429.5

1224
1216
1211.4

461.2
463.0
466.2

306.7
304.4
303.5

767.9
767.4
769.7

367 .2
364.5
357.1

176.2
171.0
166.3

268.7
276.0
275.6

61.0
60.3
60.5

329.7
336.3
336.2

JULY
AUG. p

779.6
776.7

425.6
418.9

1205.2
1195.6

469,8
475.8

304.4
303.5

774.2
779.3

360.0
360.2

167.4
169.5

75.6
281.3

60.7
60.9

336.3
342.2

781.3
777.3

426.3
423.9

1207.6
1201.2

469.7
470.3

304.2
304.9

774.0
775.2

361.7
360.7

166.8
167.6

276.3
278.7

60.7
60.6

337.0
339.3

•APR.
MAY
JUNE

At
commercial
banks
7 6 1 . .9
7 6 7 . .2
7 7 3 . .6

At
thrift
institutions
427 . 4
428. 6
430. 9

JULY
AUG.
SEP.

7 7 3 . .6
7 7 6 . .0
7 7 6 . .7

OCT.
NOV.
DEC.

Week e n d i n g
1994-JULY 18
25

1.
2.

General

Small-denomination time depc its2

Savings deposits 1
Total

Total

Total
347.8
351.0
347.6

AUG.

1
8
15
22
29

775.8
779.1
778.4
775.6
773.6

422.5
422.4
420.7
418.0
415.1

1198.3
1201.5
1199.2
1193.6
1188.6

470.7
473.7
475.5
476.4
477.5

305.3
304.1
303.6
303.2
303.0

776.0
777.8
779.0
779.6
780.5

360.3
360.9
360.9
362.1
358.5

168.8
170.0
172.1
170.9
166.8

278.0
278.7
281.2
281.4
283.6

60.8
60.8
60.8
60.9
61.1

338.8
339.5
342.0
342.3
344.7

SEP.

5p
12p

776.6
778.3

415.0
414.3

1191.6
1192.6

478.8
479.8

303.6
304.4

782.4
784.2

354.1
358.2

163.1
165.4

283.4
286.1

61.6
61.7

345.0
347.8

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 t i m e 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 less 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 c i a l
b a n k s a n d thrifts are s u b t r a c t e d f r o m s m a l l 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 t i m e d e p o s i t s are 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 m o r e , e x c l u d i n g 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 t i m e d e p o s i t s at c o m m e r c i a l b a n k s less t h o s e h e l d by m o n e y m a r k e t m u t u a l f u n d s , d e p o s i t o r y institutions, U.S. g o v e r n m e n t , a n d f o r e i g n b a n k s
a n d official institutions.
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

At commercial
banks

At thrift
institutions

Total

Term
Eurodollars2

Savings bonds

1993-APR.
MAY
JUNE

65.9
66.6
70.2

24.2
24.5
23.9

90.1
91.0
94.1

48.8
48.8
45.5

164.2
165.2
166.1

334.0
336.6
340.7

18.7
19.1
18.5

369.7
366.7
369.5

3142.9
3161.1
3188.9

8681.7
8717.3
8766.7

JULY
AUG.
SEP.

72.7
72.0
71.2

25.0
25.6
26.0

97.8
97.6
97.3

41.9
44.1
45.2

167.0
167.8
168.7

339.9
342.4
326.0

17.4
16.3
15.9

367.3
374.6
380.2

3201.8
3229.4
3251.9

8808.5
8831.9
8871.2

OCT.
NOV.
DEC.

70.5
69.7
70.8

25.4
25.9
26.0

96.0
95.6
96.8

45.0
48.9
47.0

169.6
170.6
171.4

321.8
332.5
342.0

16.3
15.7
15.3

385.2
385.6
389.3

3249.4
3287.0
3329.5

8913.2
8944.5
8986.5

1994-JAN.
FEB.
MAR.

66.3
64.1
66.9

26.6
27.4
27.2

92.9
91.5
94.1

46.0
48.1
47.1

172.6
173.7
174.6

344.6
343.0
349.5

15.6
15.5
15.2

398.9
402.0
389.7

3333.0
3345.4
3374.4

9025.7
9042.2
9067.1

APR.
HAY
JUNE

70.3
68.0
70.3

27.6
29.1
31.1

97.9
97.0
101.4

47.0
47.3
48.9

175.4
176.2
176.9

352.1
350.1
343.3

13.7
11.3
10.5

387.3
385.0
390.9

3376.8
3379.7
3394.5

9104.4
9142.3
9186.6

JULY
AUG. p

70.5
67.9

32.7
32.7

103.2
100.6

49.7
49.7

177.4 p

352.8 p

10.7 p

389.5 p

3393.8 p

9219.7 p

72.4
71.0

33.0
33.2

105.4
104.2

49.6
51.5

Week e n d i n c r
1994-JULY 18
25

1.
2.

Debt components6

Non-M3 Components of L

AUG.

1
8
15
22
29

71.0
68.8
65.5
67.1
70.0

32.6
33.6
33.2
32.5
31.8

103.5
102.4
98.8
99.6
101.7

50.1
49.4
48.4
49.5
51.2

SEP.

5p
12p

67.7
69.3

31.9
32.2

99.7
101.5

50.4
50.2

Short-term

Bankers
acceptances 4

Commercial
paper5

Federal debt

Non-Federal
debt

Term RPs are t h o s e with original maturities greater than one day, excluding continuing contracts and retail RPs.
Term Eurodollars are t h o s e with original maturities greater than one day. Consists of t h o s e 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.
3. Consists of U.S. Treasury bills and coupons with remaining maturities of l e s s than 12 months held by other than depository institutions, Federal Reserve Banks money market
mutual funds, and foreign entities.
4. Net of bankers a c c e p t a n c e s held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds
5. Total commercial paper l e s s 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
preliminary


Page 10

H.6 (508)
Table 6

MEMORANDUM ITEMS
Billions of dollars, not seasonally adjusted
Demand deposits
at banks due to
Foreign
commercial
banks

Foreign
official
institutions

1993-APR.
MAY
JUNE

7 .8
8 .3
8 .2

1.7
1.6
1.6

10. .8
n . .1
n . .5

5.8
4.2
5.4

6.2
5.8
8.1

14. 5
16. , 1
2 1 ., 1

26.5
26.1
34.6

1 . .5
2 . .6
3 . .0

148. 0
146. 9
146. 5

119.8
119.1
118.5

45. 1

313.0
312.0
311.7

JULY
AUG.
SEP.

8 .5
8 .1
8 .5

1.7
1.6
1.5

11. .5
11. .2
10..8

4.2
3.8
5.5

6.9
5.7

32.5
29.5

2 . .8
3.. 1
2. .8

146. 4
146. 1

145. 8

118.0
117.5
116.9

47. 3
47. 4

9.3

2 1 . .4
2 0 . .0
2 3 . .2

47. 5

311.7
310.9
310.2

OCT.
NOV.
DEC.

8 .3
8,.2
9,.2

1.6
1.8
1.6

10. .7
10..8
10..9

4.5

12. .6
8. .8
16. .2

23.1
18.4
28.1

116.2

5.2

5.9
5.6
6.7

145. .2

4.0

114.7

4 8 . ,1
4 9 . .1
49. ,8

309.5
309.1
308.7

1994-JAN.
FEB.
MAR.

8..5
8..3
7 . .9

1.6
1.5
1.6

n . .0
n . .0
n . .0

5.7
4.2
4.3

7.3
6.3
5.2

25. .2
27. .9
15..7

114.2 e
114.1 e
114.0 e

50. .1 e
50. .7 e
51..5 e

308.3 e
308.3 e
308.2 e

APR.
MAY
JUNE

8..4
8..0
8..3

1.6
1.5
1.5

n . .0
n . .0
n . .1

7.1
4.2
5.3

5.6

5.9
5.9

JULY
AUG. p

8..5
8,.0

1.5
1.5

10..7
10..7

4.8
3.8

8,.6
8,.3

1.4
1.6

10..7
10..7

1.4

Date

Week e n d i n c r
1994-JULY 18
25
AUG.

SEP.

e
p

U.S. government deposits

Time and
savings
deposits due
to foreign
banks and
official
institutions

8
15
22
29

8..0
9,.0
7 . .1
8..3
7..4

5p
12p

8,.7
8,.4

1

estimated
preliminary




IRA and Keogh Accounts

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note
balances at
depository
institutions

Total
cash
balance

Time and
savings
deposit at
commercial
banks

At
commercial
banks

37.9

2. .6

At
thrift
institutions

At
money
market
funds
46. 0
46. 7

Total

2..7
2..6

144..6
144. 2

38.3
38.4
25.1

2..1
2 .5

143..9

2..4

143. .6
142. .6

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

33.5
34.4
29.6

2,.0
3,. 1
2 .9

142. .2
142. .2
142. .3

114.0 e
114.0 e
113.8 e

52. .6 e
53. .3 e
53. .8 e

308.9 e
309.5 e
310.0 e

5.4
5.1

11..3
10.. 1

21.5

19.0

2 .7
2 .9

142. .6
142. .6

113.8 e
113.8 e

54. .5 e
55. . 1 e

310.9 e
311.6 e

5.5
3.3

5.0
5.2

5 .7
1 1 .5

16.2
20.0

2 .8
2 .8

5.2
3.8
4.2
3.5

5.2

13,.1

5.5
4.7
5.4

1 1 .4
8 .0
9 .2

2 .8
2 .7
2 .9

1.6
1.6

10..6
10..7
10..7
10..7
10..7

1.5
1.5

10..7
10..7

4.5
4.6

1.5
1.5

3.3

4.8

11 .9

23.4
20.7
16.9
18.0
20.0

4.9

8.1
3 .7

17.5
13.7

5.5

2 .9
2 .9

2 .9
2 .4

115.4

H.6 (508)
Special Supplementary Table

Monthly Survey of Selected Deposits 1

July 27,1994 and August 31,1994
(not seasonally adjusted)

Insured Commercial Banks
Amount Outstanding ($mil.)
Liability Categories

July 27

Aug. 31

NOW Accounts

290,631

295,323

765,751
605,881

Savings Deposits
Personal

2

Nonpersonal
Interest-bearing time deposits with
balances of less than $100,000
with original maturities of:
7 to 91 days
92 to 182 days
183 days to 1 year
1 to 2- l / 2 year
2-'/ 2 years and over
All IRA/Keogh Plan deposits3

Change
(percent)

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

July 27

Aug. 31

1.61

1.83

1.85

2

764,022
600,920

-0.23
-0.82

2.57
N.A.

2.63
N.A.

6
N.A.

159,870

163,102

2.02

N.A.

N.A.

N.A.

28,659

27,953

-2.46

3.17

3.29

12

100,424
152,216
146,875
182,944

98,064
156,222
150,718
186,397

-2.35
2.63
2.62
1.89

3.44
3.88
4.39
5.14

3.61
4.11
4.61
5.33

17
23
22
19

142,649

142,648

-0.00

N.A.

N.A.

N.A.

BIF-insured Savings Banks 4
Amount Outstanding ($mil.)
Liability Categories

July 27

Aug. 31

10,925

10,998

77,337
74,064
3,273

92 to 182 days

2,531
12,511

183 days to 1 year
1 to l- l / 2 year
2-'A years and over

17,591
16,901
21,573
19,757

NOW Accounts
Savings Deposits
Personal
Nonpersonal

2

Interest-bearing time deposits with
balances of less than $100,000
with original maturies of:
7 to 91 days

All IRA/Keogh Plan deposits3

Change
(percent)

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

July 27

Aug. 31

0.67

1.89

1.89

0

75,044
71,981
3,064

-2.96
-2.81
-6.41

2.67
N.A.
N.A.

2.74
N.A.
N.A.

7
N.A.
N.A.

2,521

2.98

3.03

12,282
17,578
16,810
21,516

-0.39
-1.83
-0.08
-0.54
-0.27

3.53
4.02
4.56
5.35

3.69
4.19

5
16
17

4.81
5.47

25
12

19,440

-1.60

N.A.

N.A.

N.A.

N.A. — data are not available
NOTE: Data for earlier month may show revisions.
1. Estimates are based on data collected by the Federal Reserve System from a stratified random sample of about 460 commercial
banks and 80 savings banks. All rates are expressed as annual effective yields.
2. Includes personal and nonpersonal money market deposit accounts.
3. Total IRA and Keogh Plan deposits regardless of size, type of instrument in which held, or interest rate paid.
4. BIF-insured savings banks include both mutual and federal savings banks.