Full text of H.6 Money Stock Measures : September 28, 1995
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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 SEPTEMBER28,1995 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. MAY 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. 1149.0 1147.3 1147.9 1149.7 1142.9 1143.8 1144.9 1143.5 3627.9 3623.5 3631.0 3643.7 3659.9 3695.7 3714.3 3739.4 4326.1 4335.7 4358.7 4381.1 4410.2 4456.8 4487.6 4517.2 5295.2 5336.1 5380.3 5411.0 5445.3 5488.7 5544.3 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. 1158.6 1134.3 1138.1 1158.7 1132.0 1139.2 1143.9 1137.1 3634.4 3609.8 3629.0 3660.1 3647.6 3691.2 3713.8 3732.4 4335.7 4324.4 4354.5 4392.9 4399.9 4450.5 4480.9 4510.9 5317.9 5328.0 5379.5 5421.1 5424.7 5477.0 5530.6 p 12989.5 13042.0 13108.1 13159.9 13226.8 13309.0 13353.7 p Footnotes appear on the following page p preliminary Page 2 H.6 (508) Table 2 MONEY STOCK AND DEBT MEASURES Percent change at seasonally adjusted annual rates M2 M3 DEBT1 1995 t o AUG. 1995 0.2 8.7 9.7 5.5 6 Months f r o m FEB. 1995 TO AUG. 1995 -0.7 6.4 8.4 6.1 12 M o n t h s f r o m AUG. 1994 TO AUG. 1995 -0.6 3.4 5.7 5.7 -0.9 7.7 9.0 o 1 5.7 7.9 3.2 5.4 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 8 , 1995 f r o m t h i r t e e n weeks e n d i n g : JUNE 1 9 , 1995 (13 w e e k s p r e v i o u s ) MAR. 2 0 , 1995 (26 w e e k s p r e v i o u s ) SEP. 1 9 , 1994 (52 w e e k s p r e v i o u s ) 1. CO M1 -0.7 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 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, short-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: The debt aggregate is the outstanding credit market debt of the domestic nonfinancial sectors — the 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 1995-JUNE 26 M3 M2 M1 Period ending 13-week average 4-week average week average 13-week average 4-week average week average 13-week average 4-week average week average 1145.6 1144.4 1144.7 3663.4 3693.9 3702.8 4411.5 4453.5 4462.8 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 4420.0 4427.6 4435.3 4443.4 4452.0 4461.7 4466.0 4470.7 4478.8 4488.6 4468.5 4469.6 4481.9 4495.3 4507.6 AUG. 7 14 21 28 1143.8 1143.8 1144.0 1144.1 1144.4 1144.9 1145.6 1144.1 1144.6 1143.0 1145.3 1143.6 3696.5 3702.7 3709.1 3714.8 3720.4 3727.0 3733.7 3739.3 3732.2 3734.6 3744.7 3745.8 4460.8 4469.0 4477.0 4484.9 4499.9 4506.8 4512.3 4516.8 4514.6 4509.5 4517.5 4525.6 SEP. 4 IIP 18p 1144.0 1143.9 1143.5 1143.5 1143.4 1142.1 1142.2 1142.4 1140.0 3720.1 3724.5 3728.7 3743.7 3747.4 3749.8 3749.6 3749.6 3754.2 4492.2 4498.1 4503.5 4520.7 4525.6 4529.5 4530.2 4529.0 4533.1 Not seasonally adjusted 1995-JUNE 26 1143.2 1139.7 1118.5 3663.9 3690.4 3669.1 4410.7 4449.8 4423.9 JULY 3 10 17 24 31 1143.2 1142.7 1140.5 1138.7 1138.3 1138.1 1141.9 1143.3 1145.4 1142.1 1145.2 1164.0 1145.6 1126.6 1132.1 3667.9 3671.8 3675.1 3679.2 3684.5 3691.8 3698.7 3704.5 3712.3 3713.2 3699.4 3733.3 3716.3 3700.0 3703.3 4417.6 4423.7 4429.0 4435.8 4444.3 4450.9 4454.5 4461.5 4474.0 4481.9 4453.5 4484.8 4483.7 4473.9 4485.2 AUG. 7 14 21 28 1138.9 1139.4 1140.2 1140.3 1139.3 1138.9 1141.2 1137.9 1152.8 1143.9 1136.0 1119.0 3691.7 3698.5 3705.6 3711.2 3714.9 3720.3 3729.3 3732.8 3740.1 3737.6 3736.3 3717.3 4454.0 4462.9 4471.4 4478.8 4491.0 4498.5 4507.3 4511.2 4521.1 4513.6 4509.3 4500.7 SEP. 4 HP 18p 1139.7 1140.3 1140.3 1135.6 1138.7 1139.8 1143.4 1156.4 1140.2 3715.3 3719.9 3724.1 3734.6 3741.8 3744.4 3747.3 3766.1 3747.0 4484.8 4490.7 4496.2 4512.6 4521.0 4525.4 4526.9 4547.0 4526.8 Note: Special caution should b e t a k e n in interpreting week-to-week c h a n g e s in m o n e y supply d a t a , which a r e highly volatile and s u b j e c t to revision, p preliminary d a t a . Page 4 H.6 (508) Table 4 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Currency1 Date 4. 5. 6. 7. Nontransactions components Other checkable deposits 1994-APR. MAY JUNE 334.5 337.3 340.0 8.1 8.1 8.2 388.1 385.6 386.3 At commercial banks4 299.1 300.5 301.0 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. FEB. MAR. 357.7 358.8 362.5 8.4 8.4 8.8 383.6 384.1 383.3 295.1 291.8 289.3 104.2 104.1 104.0 399.3 395.9 393.3 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 2551.9 737.4 750.2 761.1 JULY AUG. 367.1 368.2 8.9 8.9 389.5 390.1 275.7 272.2 103.7 104.1 379.4 376.3 2569.4 2595.9 773.3 777.8 367.1 367.9 8.9 8.8 387.9 394.1 275.6 275.1 102.9 103.6 378.5 378.7 2575.8 2573.5 777.1 784.5 Week ending 1995-JULY 24 31 1. 2. 3. Travelers checks 2 Demand deposits3 At thrift institutions5 112.9 112.0 111.5 Total In M2* In M3 only7 412.0 412.4 412.5 2462.6 2465.0 2458.2 645.2 642.7 651.0 AUG. 7 14 21 28 367.8 368.2 368.4 369.1 8.8 8.8 8.9 8.9 388.6 389.0 391.8 390.8 275.5 273.4 272.1 270.0 103.9 103.5 104.2 104.8 379.4 377.0 376.3 374.8 2587.6 2591.6 2599.4 2602.2 782.4 774.8 772.8 779.8 SEP. 4 lip 18p 368.4 368.4 368.8 8.9 8.9 8.8 387.9 389.9 389.5 270.5 270.1 268.2 106.6 105.2 104.6 377.0 375.3 372.8 2607.4 2607.2 2614.2 780.6 779.4 778.9 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 d e m a n d 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. 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. 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. This sum is seasonally adjusted a s a whole. e estimated p preliminary Page 5 H.6(508) Table 4-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Small-denomination time deposits 2 Savings deposits 1 Date At commercial banks 4 268.0 272.0 274.0 At thrift 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 1091.1 548.1 556.2 562.4 348.7 354.5 355.1 896.8 910.7 917.5 396.0 405.3 425.9 192.9 194.8 205.6 309.0 315.1 318.5 71.2 70.4 70.8 380.2 385.5 389.3 JULY AUG. 730.7 739.5 360.7 358.7 1091.5 1098.2 566.7 568.8 355.0 355.2 921.7 924.0 441.5 455.1 212.4 210.8 323.6 326.2 72.6 73.2 396.2 399.4 731.6 731.7 360.6 359.9 1092.2 1091.5 567.2 567.5 355.3 355.5 922.4 923.0 445.1 446.4 213.1 213.2 326.2 328.2 72.7 73.0 399.0 401.2 7 14 21 28 737.1 739.3 740.6 741.6 359.2 358.9 359.2 358.5 1096.3 1098.2 1099.8 1100.1 568.5 568 569 569, 354.9 354.9 355.3 355.5 923.4 923.6 924.3 924.6 451.1 453.6 455.8 457.3 213.0 209.9 210.2 209.3 329.5 322.3 326.2 326.5 73.3 73.2 73.1 73.0 402.9 395.5 399.3 399.5 4 741.6 744.2 747.4 357.8 357.4 358.7 1099.4 1101.6 1106.1 568.8 568.8 568.8 355.8 356.2 356.3 924.6 924.9 925.2 461.6 461.2 461.4 213.1 213.3 213.9 327.0 327.6 328.0 73.4 73.3 73.6 400.4 400.9 401.6 At thrift institutions 431.1 430.2 426.8 JULY AUG. SEP. 778.0 775.7 772.8 OCT. NOV. DEC. 1995-JULY 24 31 AUG. SEP. HP 18p 3. 4. Large-denomination time deposits 3 At commercial banks 462.3 464.6 467.4 At 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 370.5 183.1 373.5 177.5 370.7 177.9 S a v i n g s deposits include Small-denomination time and thrifts a r e subtracted Large-denomination time Large-denomination time official institutions. p preliminary Total Total 770.2 770.8 772.9 Total 329.8 332.4 335.0 m o n e y market deposit a c c o u n t s . deposits—including retail R P s — a r e t h o s e issued in a m o u n t s of less than $100,000. All IRA and Keogh a c c o u n t b a l a n c e s at commercial b a n k s from small time deposits. 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. d e p o s i t s at commercial b a n k s less t h o s e held by money 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 Page 6 H.6 (508) Table 4 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Debt components4 Non-M3 Components of L Date 1994-APR. MAY JUNE 174.8 175.7 176.7 Short-term Treasury securities1 354.8 361.1 357.2 JULY AUG. SEP. 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 9381.5 9423.9 9462.2 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 180.9 181.6 182.3 404.2 397.5 410.8 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 Savings bonds JULY p Bankers acceptances 2 Commercial paper3 15.9 15.6 14.9 384.5 392.2 387.0 3390.6 3402.5 3416.3 9167.0 9210.9 9236.3 Federal debt Non-Federal debt 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 1. Page 7 H.6 (508) Table 5 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Date Currency1 Travelers checks2 Demand deposits3 •APR. MAY JUNE 334.3 337.2 340.5 7.8 7.9 8.3 JULY AUG. SEP. 344.7 345.7 347.0 OCT. NOV. DEC. Nontransactions components Other checkable deposits Overnight Overnight Eurodollars1 389.2 377.7 382.3 At commercial banks4 306.4 298.1 299.5 At thrift institutions5 115.0 111.6 111.7 421.4 409.7 411.2 2470.0 2463.1 2458.1 641.3 644.6 649.5 77.6 78.4 80.6 21.3 24.1 26.2 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 28.1 349.6 353.2 357.6 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 -JAN. FEB. MAR. 355.9 357.1 361.4 8.1 8.1 8.4 388.9 375.0 374.1 301.3 292.3 291.1 104.4 101.8 103.0 405.7 394.1 394.2 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 8.8 8.9 9.2 382.0 372.8 382.6 296.6 279.7 274.9 105.7 102.6 104.3 402.3 382.4 379.2 2501.5 2515.5 2552.0 732.8 752.3 759.3 85.7 86.6 87.7 30.1 29.9 29.6 JULY AUG. 369.0 368.9 9.5 9.5 388.7 386.6 272.8 268.8 103.9 103.4 376.8 372.1 2569.8 2595.3 767.1 778.5 84.9 87.0 29.4 31.4 367.9 367.2 9.5 9.5 378.5 385.6 269.3 268.3 101.4 101.5 370.7 369.8 2573.4 2571.2 773.9 781.9 84.8 82.9 29.4 30.8 1995-JULY 24 31 Total In M2® 7 In M3 only AUG. 7 14 21 28 371.0 370.0 368.9 367.2 9.5 9.5 9.5 9.5 389.8 389.5 387.4 378.7 275.6 271.1 267.6 263.1 106.9 103 .8 102.5 100.5 382.5 374.9 370.2 363.6 2587.3 2593.7 2600.3 2598.3 781.0 776.0 773.0 783.4 84.4 85.0 89.3 87 .8 29.2 30.8 32.4 33.0 SEP. 4 Hp 18p 369.9 370.3 368.6 9.5 9 .4 e 9.3 e 387.4 395.8 390.0 270.3 273.2 ^267.7 106.3 107.7 104.6 376.6 380.9 372.2 2603.9 2609.7 2606.8 779.6 780.9 779.8 90.6 89.0 87 .'4 31.6 32.3 32.1 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 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. >, . .i v 4 . C o n s i s t s 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 $>alanc£§ (general purppsQ ^<J,broker/dealer), savings deposits (including money market deposit accounts) and small time deposits. -' .v,'- -' • • , . . • • •1 • ' • *z. - *.* > 7. Sum of l a r g e time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overnight RPs and - Eurodollars held by institution-only money market mutual funds. 8. " Consists of overnight and continuing contract RPs issued by all depository institutions to other than depository institutions and money market mutual funds (general purpose and 9. for 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 FRASER Page 8 H.6 (508) Table 5 -continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Savings deposits 1 Date At commercial banks 791.1 785.3 782.3 thrift institutions 432.3 430.6 428.1 JULY AUG. SEP. 780,0 777.0 772.7 OCT. NOV. DEC. 1223.4 1215.9 1210.4 . tfmfl institutions 307.5 305.5 305.2 769.3 769.2 772.2 424.3 417.7 410.8 1204.3 1194.6 1183.6 470.5 476.6 481.8 306.9 307.1 308.7 777.5 783.7 790.5 373.4 374.2 371.3 765.5 761.4 751.1 405.7 399.7 391.2 1171.1 1161.0 1142.3 488.4 493.8 502.2 312.1 316.1 317.4 800.5 809.9 819.6 1995-JAN. FEB. MAR. 739.5 729.8 723.4 383.2 375.3 371.6 1122.7 1105.1 1095.0 513.1 524.4 537.6 323.3 331.3 340.3 APR. MAY JUNE 717.8 717.8 730.2 367.4 364.5 364.1 1085.2 1082.3 1094.3 547.5 555.1 562.0 JULY AUG. 732.6 740.8 361.7 359.4 1094.2 1100.2 731.9 730.8 360.8 359.5 Week e n d i n g 1995-JULY 24 31 3. 4. General ^ purpose and Institutionbroker/ only money dealer market funds money market funds 378.3 181.8 375.4 176.8 368.7 172.5 At . commercial banks 461.8 463.7 467.0 1994-APR. MAY JUNE 1. 2. Small-denomination time deposits2 Total Total Large-denominationtimedeposits 3 At . commercial banks4 266.3 274.1 275.3 . Arift institutions 61.4 60.9 61.3 327.7 335.0 336.6 173.8 176.2 172.6 275.4 281.4 286.2 61.8 62.2 63.3 337.1 343.6 349.6 373.9 379.9 387.1 178.1 182.5 183.1 290.0 294.4 296.3 64.3 64.8 64.8 354.3 359.1 361.1 836.4 855.7 877.9 3 92 . 8 396.3 399.8 192.4 188.8 190.8 293.8 301.6 306.4 66.4 67.8 69.7 360.2 369.4 376.1 348.3 353.8 354.8 895.8 908.9 916.8 404.8 407.8 423.6 191.3 193.8 199.2 306.9 317.6 320.0 70.7 70.9 71.1 377.6 388.5 391.1 567.5 569.4 355.4 355.5 922.9 924.9 438.4 451.8 206.6 209.3 322.2 327.7 72.3 73.5 394.5 401.2 1092.7 1090.3 567.9 568.1 355.7 355.8 923.6 923.9 442.8 443.3 209.1 210.2 325.3 328.1 72.5 72.9 397.8 401.0 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 1097.8 569.3 569.4 569.5 569.4 355.4 355.4 355.6 355.7 924.7 924.8 925.0 925.0 447.9 450.4 453.3 454.6 209.9 208.8 208.9 209.7 329.5 323.5 327.6 329.4 73.3 73.5 73.4 73.6 402.8 397.0 401.0 403.1 SEP. 4 HP 18p 743.6 748.5 747.8 358.7 359.4 358.9 1102.4 1107.9 1106.7 569.4 569.4 569.1 356.2 356.5 356.5 925.6 925.9 925.7 453.8 454.5 454.9 208.9 210.5 210.3 328.9 330.3 329.5 73.9 73.9 73.9 402.7 404.2 403.4 S a v i n g s d e p o s i t s include money 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 than $100,000. 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 cial b a n k s a n d thrifts a r e subtracted from small time d e p o s i t s . Large-denomination 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 banking facilities. Large-denomination time d e p o s i t s at commercial b a n k s l e s s 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. p for preliminary Digitized FRASER Page 9 H.6 (508) Table 5-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted _ _ Term RPs1 1. 2. Term Eurodollars2 Short-term Treasury 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 59.9 61.1 62.4 181.7 182.1 182.4 402.1 395.9 407.6 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 63.8 63.5 182.8 p 430.9 p 11.7 p 424.4 p 3588.8 p 9764.9 p 73.0 75.3 43.0 43.0 116.0 118.2 64.2 65.0 Date At commercial banks At thrift institutions -APR. HAY 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 I-JAN. FEB. MAR. 70.3 73.3 72.6 APR. MAY JUNE JULY AUG. Week e n d i n g 1995-JULY 24 31 Debt components6 Non-M3 Components of L 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 63.1 63.4 62.8 65.0 SEP. 4 HP 18p 73.3 71.7 73.0 44.1 44.2 44.6 117.4 115.9 117.6 63.2 63.6 61.7 Savings bonds Commercial paper* Federal debt Non-Federal debt 4. 5. 6. 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. p preliminary 3. Page 10 H.6 (508) Table 6 MEMORANDUM ITEMS Billions of dollars, not seasonally adjusted Demand deposits at banks due to U.S. government deposits IRA and Keogh Accounts Time and Demand deposits at commercial banks Balance at Federal Reserve 7.1 4.2 5.3 5.6 5.9 5.9 20.8 24.3 18.4 33.5 34.4 29.6 depositsfat 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 8.4 8.0 8.1 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 7.7 8.1 8.1 1.6 1.5 1.6 12.3 12.3 12.3 5.5 3.1 4.5 JULY AUG. 8.4 7.5 1.5 1.5 12.3 12.3 7.9 8.1 1.5 1.5 Date Foreign commercial banks Foreign official institutions 1994-APR. MAY JUNE 8.6 8.1 8.2 1.5 1.5 1.5 JULY AUG. SEP. 8.3 7.7 8.1 1.5 1.5 1.5 OCT. NOV. DEC. 8.0 8.4 8.7 1995-JAN. FEB. MAR. Veek BB<UM 1995-JULY 24 31 e p Time and savings deposits due to foreign banks and official institutions 12.9 13.0 13.1 Note balances at depository institutions Total cash balance At money market funds Total 112.6 112.2 111.5 54.8 56.4 56.8 309.6 310.9 310.6 2.7 2.9 2.5 142.6 142.6 142.7 110.7 109.7 108.7 55.9 56.1 56.8 309.2 308.4 308.1 22.0 18.9 25.3 2.2 1.9 1.3 142.7 142.9 143.3 108.3 e 108.4 e 108.2 e 58.3 59.4 59.7 309.3 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 e 108.8 e 109.0 e 59.7 59.9 60.1 311.8 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 e 109.4 e 109.4 e 60.3 60.6 e 60.9 e 315.9 e 316.7 e 318.2 e 3.3 2.8 6.6 5.3 27.7 13.6 37.6 21.7 2.8 2.9 149.2 149.9 109.6 e 109.6 e 61.2 e 61.5 e 319.9 e 321.0 e 12.3 12.3 2.6 2.9 5.3 6.3 27.7 32.3 35.5 41.6 3.0 3.0 7 14 21 28 7.5 7.2 7.4 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. 4 HP 18p 7.7 7.5 7.4 1.5 1.8 1.7 12.3 12.3 12.3 3.7 3.5 13.5 5.3 4.6 7.1 6.5 3.6 11.9 15.4 11.6 32.5 2.9 2.8 2.8 At thrift institutions 142.2 142.2 142.3 AUG. estimated preliminary At commercial banks H.6 (508) Special Supplementary Table Monthly Survey of Selected Deposits1 July 31,1995 and August 31,1995 (not seasonally adjusted) Insured Commercial Banks Amount Outstanding ($mil.) Change (b. p.) July 31 Aug. 31 -2.27 1.91 1.90 -1 731,457 571,723 159,734 1.13 0.72 2.61 3.15 N.A. N.A. 3.14 N.A. N.A. -1 N.A. N.A. 32,950 91,347 186,716 201,761 194,500 30,627 90,221 187,122 203,495 200,031 -7.05 -1.23 0.22 0.86 2.84 4.17 4.77 5.18 5.38 5.62 4.10 4.77 5.15 5.39 5.63 -7 0 -3 1 1 148,878 149,045 0.11 N.A. N.A. N.A. Liability Categories July 31 Aug. 31 NOW Accounts 271,777 265,597 Savings Deposits Personal Nonpersonal 723,302 567,624 155,678 Interest-bearing time deposits with balances of less than $100,000 with original maturities of: 7 to 91 days 92 to 182 days 183 days to 1 year 1 to 2-V2 year 2-V2 years and over All IRA/Keogh Plan deposits3 2 Change (percent) Average Rate Paid (%) BIF-insured Savings Banks4 Amount Outstanding ($mil.) Average Rate Paid (%) Change (b. p.) July 31 Aug. 31 Change (percent) July 31 Aug. 31 11,262 11,113 -1.33 1.96 1.98 2 Savings Deposits Personal Nonpersonal 66,706 63,524 3,182 66,768 63,476 3,292 0.09 -0.08 3.47 2.97 N.A. N.A. 2.95 N.A. N.A. -2 N.A. N.A. Interest-bearing time deposits with balances of less than $100,000 with original maturies of: 7 to 91 days 92 to 182 days 183 days to 1 year 1 to 2-V2 year 2-V2 years and over 1,784 11,131 22,157 25,141 22,930 1,872 11,181 22,485 25,294 22,777 4.94 0.45 1.48 0.61 -0.67 4.28 5.16 5.47 5.62 5.82 4.34 5.12 5.45 5.63 5.78 6 -4 -2 1 -4 All IRA/Keogh Plan deposits3 20,568 20,604 0.18 N.A. N.A. N.A. Liability Categories NOW Accounts 2 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 425 commercial banks and 75 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.