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SJ&E&&

FEDERAL RESERVE statistical rel<£as®
H.6 ( 5 0 8 )
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

SEPTEMBER

Billions of dollars
Date

Ml 1

M2 2

M3 J

L«

5, 1991

DEBT

Seasonally adjusted
1989-AUG.
SEP.
OCT.
NOV.
DEC.

779.9
781.8
787.9
788.9
793.6

3147.3
3162.8
3183.0
3203.4
3223.1

4012,
4018.
4027,
4041,
4055

4826.1
4834.5
4851.7
4869.4
4889.9

9570.7
9629.1
9689.0
9751.7
9790.4

1990-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

795.4
801.1
804.7
807.7
807.5
811.5
810.7
816.5
821.8
821.2
823.3
825.4

3233.6
3255.0
3269.6
3279.9
3282.8
3290.6
3295.5
3309.7
3321.8
3324.7
3324.0
3328.2

4061.4
4073.1
4077.2
4082.7
4082.7
4085.8
4089.0
4103.3
4109.0
4109.4
4108.9
4111.8

4895.
4902.
4914.
4920.
4903.
4922,
4926.
4934,
4955.
4955,
4960
4965.8

9833.8
9897.1
9969..5
10026.
.6
.4
10070.
.4
10128.
.7
10188.
.3
10257.
.4
10312.
.5
10349.
.5
10399.
.1
10436.

1991-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY

826.7
836.4
843.0
842.1
851.6
858.4
859.7

3331.8
3355.2
3375.
.9
.3
3384.
.2
3397.
.1
3402.
.0
3391.

4124
4160
4169
4171
4174
4167
4149

4982.
5009,
5008.
4972,
4949,
4979.6 p

10467.8
10525.9
10563 9
10576 2
10621 6
10671 6 p

1989-AUG.
SEP.
OCT.
NOV.
DEC.

777.8
778.9
784.5
791.4
811.9

3147.6
3158.1
3180.8
3206.7
3236.6

4016.6
4016.8
4025.2
4048.4
4067.0

4823.7
4833.5
4848.8
4874.9
4907.4

1990-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

802.4
788.3
796.2
818.0
797.3
810.8
812.9
814.5
818.9
817.6
826.1
844.3

3244
3245
3267
3292.8
3262.8
3284
3298
3310
3317
3322
3327
3342

4067.8
4061.5
4075.8
4090.8
4064.3
4080.8
4091
4108.
4107.
4106.
4116.
4123.8

4911.
4893.
4912.
4930.
4888.
4914.
4918.
4932.
4954.
4950.
4964.
4984.

9822.2
9864.3
9925.6
9980.8
10024.1
10084.
.6
10145.
.5
10208.
.2
10263.
.1
10310.
.0
10370.
.0
10423.
.3

1991-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY

833.2
823.4
835.0
852.8
841.6
857.7
861.9

3342,
3345.
3375.
3397,
3376.
3395.
3394.

4130.8
4148.5
4168.3
4180.5
4155.4
4162.2
4152.8

4998,
4999.
5006.
4983,
4934.
4970.

10455.7
10490.8
10518.6
10531
10576
10628.8 p

Not seasonally adjusted

Footnotes appear on the following page,
p—indicates preliminary data.




9516.6
9578.3
9648.5
9719.2
9775.9

H.6 ( 5 0 8 )
Table 2

MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates

Ml

M2

M3

Debt 1

3 Months from APR. 1991 TO JULY 1991

8.4

0.8

-2.1

4.1

6 Months from JAN. 1991 TO JULY 1991

8.0

3.6

1.2

4.5

12 Months from JULY 1990 to JULY 1991

6.0

2.9

1.5

5.4

27, 1991 (13 weeks previous)

7.4

1.2

-1.5

FEB. 25, 1991 (26 weeks previous)

7.8

3.5

1.3

5.9

3.0

1.6

Thirteen weeks ending AUGUST 26, 1991
from thirteen weeks ending:

MAY

AUG. 27, 1990 (52 weeks previous)
1.

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely,
March 1991 to June 1991, December 1990 to June 1991, and June 1990 to June 1991, 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 Ml is calculated by summing currency, travelers checks, demand deposits, and
0CDs ? each seasonally adjusted separately.
Consists of Ml 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, money market deposit accounts (MMDAs), savings and
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,
a n d t h e U.S. government. Seasonally adjusted M2 is computed by adjusting its non-Mi component as a whole and then
adding this result to seasonally adjusted Ml.
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 foreian 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 of domestic nonfinancial sectors consists of outstanding credit market debt of the U.S. government, state and local
overnments and private nonfinancial 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 Reserve 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. These 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.l. In those releases, published levels of credit market debt are measured on a quarter-end
basis and include discontinuities.

F




H.6 ( 5 0 8 )
Table 3

MONEY STOCK MEASURES
B i l l i o n s of d o l l a r s
Seasonally adjus ted
Ml

Period en<Jing

13-week
average

4-week
average

M3

M2
week
average

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

1991-JUNE

3
10
17
24

846.1
847.4
848.9
850.0

851.7
852.9
854.7
856.4

850.5
856.4
860.3
858.4

3387.0
3389.6
3392.0
3393.3

3397.3
3398.7
3400.6
3400.7

3390.1
3403.9
3408.4
3400.2

4171.5
4171.8
4172.1
4171.7

4173.5
4173.1
4173.2
4169.9

4162.9
4174.5
4178.0
4164.2

JULY

1
8
15
22
29

850.8
851.9
853.0
854.4
856.3

859.2
859.3
858.6
859.0
859.6

861.8
856.7
857.5
859.9
864.4

3394.8
3395.4
3395.8
3396.0
3397.0

3403.3
3400.8
3397.3
3394.3
3391.3

3400.5
3394.0
3394.3
3388.5
3388.5

4171.1
4169.8
4167.6
4165.5
4164.6

4167.7
4162.4
4156.7
4152.6
4151.0

4153.9
4153.3
4155.2
4148.0
4147.6

AUG.

5
12
19p
26p

857.7
858.5
859.4
860.8

862.4
863.7
864.9
866.3

867.7
862.8
864.6
869.9

3396.8
3396.0
3395.2
3395.0

3390.5
3388.8
3389.5
3391.7

3390.6
3387.7
3391.0
3397.4

4162.4
4159.9
4157.6
4155.6

4148.3
4145.6
4145.3
4146.4

4142.4
4144.3
4147.0
4151.9

Not seasonally adjusted
M2

Ml

Period en<ding

13-week
average

4-week
average

week
average

13-week
average

4-week
average

M3
week
average

13-week
average

4-week
average

week
average

1991-JUNE

3
10
17
24

843.6
845.8
848.1
849.5

841.6
847.2
852.3
855.9

850.1
867.1
863.0
843.5

3383.9
3386.5
3388.6
3389.2

3377.6
3384.9
3391.0
3393.9

3384.5
3408.9
3405.2
3376.8

4167.8
4168.4
4168.7
4167.4

4156.0
4161.5
4166.3
4165.3

4158.6
4182.4
4177.6
4142.5

JULY

1
8
15
22
29

850.7
852.1
852.3
852.3
853.5

858.1
861.3
862.4
865.2
862.0

858.6
880.0
867.3
854.7
846.1

3389.9
3389.5
3388.7
3387.9
3388.7

3395.8
3397.3
3398.0
3400.2
3395.0

3392.1
3415.1
3408.0
3385.6
3371.2

4165.7
4163.6
4160.3
4157.9
4157.3

4161.6
4159.1
4156.5
4157.2
4154.1

4143.8
4172.6
4167.0
4145.2
4131.6

AUG.

5
12
19p
26p

855.3
857.2
858.9
860.7

860.2
860.6
863.1
864.7

872.5
868.9
864.8
852.4

3390.0
3391.5
3392.6
3393.9

3390.5
3388.2
3390.5
3393.2

3397.0
3398.8
3395.1
3381.9

4156.7
4156.6
4156.3
4156.0

4148.6
4146.7
4148.8
4151.7

4150.6
4159.2
4153.8
4143.2

Note: S p e c i a l c a u t i o n should be taken i n i n t e r p r e t i n g week-to-week changes i n money supply d a t a , which are h i g h l y v o l a t i l e and subject t o
revision.
p—indicates preliminary data.




H.6 ( 5 0 8 )
Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars> seasonally adjusted
Nontransact ions
component s

Other checkable deposits
At
commercial
banks 4

At
thrift
institutions5

General purpose
and broker/dealer
money market funds

Total

In M 2 6

In M3
only7

88.6

289.8

2465.0

807.6

325.9

202.9
203.6
205.5

88.9
88.3
88.2

291.7
292.0
293.7

2472.2
2475.3
2479.1

802.8
799.9
795.2

327.
325,
327,

275.6
278.0
279.1

203.9
204.4
205.7

87.7
87.7
87.3

291.7
292.1
293.0

2484.7
2493.2
2500.0

793.6
793.6
787.2

329.2
335.8
339.3

8.3
8.4
8.4

277.1
277.2
276.9

205.9
207.1
208.8

85.8
85.7
85.0

291.8
292.8
293.8

2503.5
2500.7
2502.8

784.6
784.9
783.5

341,
341,
345.

251.6
255.1
256.7

8.4
8.2
8.1

272.9
276.1
277.1

209.2
211.4
214.4

84.7
85.5
86.6

293.9
296.9
301.0

2505.1
2518.8
2532.9

792.9
805.3
793.1

353,
358.
363.

APR.
MAY
JUNE

256.6
256.8
257.6

7.9
8.0
7.8

275.8
278.7
281.0

215.2
220.1
223.4

86.7
88.0
88.6

301.9
308.1
312.0

2542.2
2545.5
2543.7

787.1
777.0
765.6

364.
365.
364.

JULY

258.9

7.7

279.0

225.6

88.5

314.1

2531.3

759.0

359.4

Date

Currency 1

Travelers
checks 2

Demand
deposits3

1990-MAR.

228. 4

7.6

278.9

201.3

APR.
MAY
JUNE

230.3
231.9
233.7

7.7
7.8
7.8

278.1
275.8
276.3

JULY
AUG.
SEP.

235.7
238.4
241.5

7.8
8.0
8.2

OCT.
NOV.
DEC.

243.9
245.0
246.4

1991-JAN.
FEB.
MAR.

Neek ending
1991-JULY

AUG.

1
8
15
22
29

258,
257.
258.
259,
260.

280,
278,
278,
278,
280,

225.
224.
224.
226.
227.

89,
88,
88.
88,
89,

315.2
312.5
312.8
314.3
316.3

2538,
2537,
2536.
2528.
2524.

753,
759,
761,
759,
759,

362.
361.
360.
359,
356.

5
12
19p
26p

260.2
259.9
260.7
261.6

282,
278,
278.
281,

227.9
228.5
229.8
230.5

89.
88.
87.
89.

317,
317.
317.
319.

2522.8
2524.9
2526.4
2527.5

751.8
756.6
756.0
754.5

353.8
353.8
352.2
353.1

1.
2.

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.
3.
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 foreiqn banks, and Edge Act corporations.
5.
Consists of NOH 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), MMDAs and savings and small time
deposits. This sum is seasonally adjusted as 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.
e--indicates estimated data,
p—indicates preliminary data.




H.6 (508)
Table 4-continued

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

At
At
commercial
thrift
banks
institutions

Date

Total

Small-denomination time deposits 2

Savings deposits 1

Money market deposit accounts

At
commerciai . thrift
l
banks
institutions

Total

At
At
commercial
thrift
banks
institutions

Total

Large-denomination time deposits 3
At~
At
commercial
thrift
banks 4
institutions

Total

1990-MAR.

360.9

134.8

495.7

192.1

218.2

410.2

540.7

609.3

1149.9

399.2

150.1

549.3

APR.
MAY
JUNE

364. 4
366.1
369.6

134.9
134.3
132.6

499.3
500.5
502.3

192.3
192.7
194.0

219.1
218.6
217.8

411.5
411.3
411.8

544.4
553.4
563.8

607.8
600.2
590.8

1152.2
1153.5
1154.6

396.8
397.5
397.7

146.9
143.0
140.3

543.7
540.5
538.0

JULY
AUG.
SEP.

371.8
374.7
376.1

131.6
131.2
131.3

503.4
505.9
507.4

195.2
195.9
196.5

217.5
216.8
215.8

412.7
412.7
412.3

571.6
574.9
579.4

585.2
583.4
580.7

1156.8
1158.3
1160.1

398.7
395.8
390.9

136.4
133.4
131.0

535.0
529.2
521.9

OCT.
NOV.
DEC.

376.7
377.4
378.4

130.0
129.4
127.6

506.7
506.8
505.9

197.7
198.2
199.4

213.9
212.9
211.4

411.5
411.1
410.8

588.1
589.5
598.1

573.3
572.3
566.1

1161.4
1161.8
1164.2

386.8
387.4
386.1

128.3
125.1
121.1

515.1
512.5
507.1

1991-JAN.
FEB.
MAR.

377.7
383.2
388.9

127.5
128.3
130.3

505.2
511.5
519.2

201.4
203.2
205.8

210.6
212.1
214.7

412.0
415.4
420.5

601.6
605.5
607.8

562.3
557.1
550.5

1163.9
1162.7
1158.3

394.0
401.1
399.9

118.0
114.9
111.6

511.9
516.0
511.5

APR.
MAY
JUNE

393.8
399.9
404.5

132.8
136.2
137.6

526.6
536.1
542.1

208.9
211.4
215.1

218.4
221.7
223.8

427.2
433.1
438.9

604.1
601.2
601.7

546.1
539.3
527.4

1150.2
1140.5
1129.1

398.5
399.3
398.0

108.8
104.6
100.9

507.3
503.9
498.9

JULY

408.0

139.2

547.2

217.6

225.2

442.8

600.9

517.7

1118.7

393.6

97.7

491.3

1
8
15
22
29

404.7
407.0
409.1
407.8
408.3

138.1
138.8
139.6
139.4
139.1

542.8
545.9
548.7
547.2
547.4

216.
216.
217.
217.
218.

224,
225,
225,
225,
225,

440.3
441.4
442.4
443.2
444.3

600.
600.
600.
601.
602.

524.
522,
519.
516,
513,

1124,
1122,
1119.
1117,
1115.8

391,
393,
395.
392,
393,

99.
99.
98.
97.
96,

491.0
493.3
493.4
489.8
489.6

5
12
19p
26p

408.6
410.4
410.6
410.5

138.
138.
138.
137.

547.
548.
548,
548.

219.
220.
220.
221.

226,
226,
226,
227,

445.8
446.7
447.6
448.7

603.
604.
605.
605.

510.1
507.0
504.8
503.7

1113.
1111.
1110,
1109.

393.3
391.8
390.4
389.5

95,
94,
93,
92,

488,
486,
484
482,

Neek ending
1991-JULY

AUG.

1.
2.

Savings deposits exclude MMDAs.
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.
3.
Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
4.
Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, and foreign banks and
official institutions.
p—indicates preliminary data.




H.6 (508 )
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars* seasonally adjusted
Non-M3 Components of L
Institutiononly money
market funds

Date

Savings
bonds

Short-term
Treasury
securities1

Bankers
acceptances2

Debt components*
Commercial
paper 3

Federal
debt

Non-Federal
debt

1990-MAR.

105.2

119.2

336.9

37.2

344.1

2316.1

7653.5

APR.
MAY
JUNE

106.9
107.6
108.1

119.9
120.7
121.4

329.9
315.4
331.7

36.0
35.4
34.7

351.9
349.1
349.1

2330.6
2345.1
2374.2

7696.0
7725.3
7754.2

JULY
AUG.
SEP.

109.8
114.0
116.2

122.2
123.0
123.8

333.9
328.6
331.9

33.0
32.3
31.8

348.2
347.0
359.0

2401.7
2439.6
2461.9

7787.1
7817.8
7850.5

OCT.
NOV.
DEC.

119.6
120.5
125.7

124.5
125.2
126.0

329.9
332.8
333.9

32.6
34.0
34.7

358.8
359.0
359.4

2473.9
2507.3
2534.3

7875.6
7892.2
7901.8

1991-JAN.
FEB.
MAR.

130.1
139.3
142.0

126.7
127.8
128.9

331.7
329.6
325.7

36.0
35.2
32.4

363.2
355.9
352.0

2556.3
2588.6
2599.7

7911.4
7937.4
7964.2

APR.
MAY
JUNE

145.6
146.2
143.3

130.1
131.4
132.5 p

302.6
292.0
321.2 p

30.7
28.8
27.6 p

337.6
322.7
330.6 p

2590.8
2613.1
2645.5 p

7985.4
8008.5
8026.1 p

JULY

141.8

Neek ending

29

1991-JULY

1
8
15

140,
141,
143,
142,
141.

5
12
19p
26p

139,
143,
146
147

ZZ

AUG.

1.

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 neld by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and
money market mutual funds.
3.
Total commercial paper less commercial paper held by money market mutual funds.
4.
Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove
discontinuities.
p—indicates preliminary data.
2.




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H.6 (508)
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Term RPs 1
InstitutionAt
only money commercial
thrift
banks
market funds
institutions

Date

Debt components 6

Non-M3 Components of L

Total

Term
Eurodollars2

Savings
bonds

Short-term
Treasury 1
securities3

Bankers
acceptances4

Commercial
paper 5

Federal
debt

Non-Federal
debt

1990-MAR.

106.8

50.1

48.3

98.4

66.7

119.4

337.2

36.1

343.8

2319.2

7606.4

APR.
MAY
JUNE

105.9
106.8
106.2

49.5
50.1
53.4

48.7
49.2
48.8

98.2
99.3
102.2

65.3
67.1
64.4

120.2
120.9
121.6

328.6
310.6
321.4

35.3
35.2
34.9

355.4
357.6
355.4

2331.0
2339.7
2363.0

7649.9
7684.4
7721.5

JULY
AUG.
SEP.

108.3
113.1
113.4

53.5
55.7
52.0

46.7
46.1
46.0

100.2
101.8
98.0

65.1
68.3
70.0

122.2
122.8
123.5

323.7
323.9
334.2

33.1
32.4
32.3

348.2
344.9
356.8

2386.8
2422.3
2444.5

7758.7
7785.8
7818.5

OCT.
NOV.
DEC.

117.1
121.2
127.0

51.0
52.8
48.2

44.2
42.4
41.4

95.2
95.2
89.6

70.2
70.0
71.4

124.2
125.0
125.8

334.4
338.9
343.9

32.8
34.6
35.7

353.0
350.3
355.1

2459.3
2498.8
2532.1

7850.7
7871.2
7891.2

1991-JAN.
FEB.
MAR.

134.8
144.0
143.9

47.3
47.8
46.9

40.3
38.2
35.4

87.5
86.0
82.3

71.9
72.6
71.1

126.8
127.9
129.1

339.1
330.8
325.7

36.1
34.3
31.5

365.5
358.0
351.6

2557.7
2590.7
2602.8

7898.0
7900.1
7915.8

APR.
MAY
JUNE

144.1
145.2
141.0

47.8
47.6
48.0

33.3
32.2
29.4

81.1
79.8
77.3

68.2
65.7
65.6

130.4
131.6
132.7 p

301.2
287.6
310.9 p

30.1
28.7
27.8 p

341.4
330.8
336.6 p

2593.0
2609.1
2635.3 p

7938.6
7967.6
7993.4 p

JULY

139.7

49.4

29.2

78.6

65.4

1
8
15
22
29

136,
137.
139,
141.
141,

47,
49,
49,
49.
49,

27.8
29.2
29.0
29.5
29.5

74.
78.
78.
79.
79.

65.
66,
64.
65.
65.

5
12
19p
26p

138.5
143.0
144.8
146.6

48,
48,
48.
49,

29.3
29.8
29.8
29.9

77.
78,
78,
79.8

64,
65,
64,
63,

Neek ending
1991-JULY

AUG.

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.
~
-_x_ * .. ~ ~
Sills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal
Consists of U.S. Treasury bi
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—indicates preliminary data.




M.6 ( 5 0 8 )
Table 6

MEMORANDUM ITEMS

10

Billions of dollars, not seasonally adjusted

Demand deposits
at banks due to

U.S. government deposits

Time and savings
deposits due to
Foreign
Foreign
foreign banks
commercial
official
and official
banks
institutions
institutions

Date
1990-MAR.

9.0

1.6

3.4

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note balances
at depository
institutions

Total
cash
balance

5.3

13.1

22.0

4.4
5.1
5.0

14.9
21.8
15.4

IRA and Keogh Accounts
Time and
savings
At
deposits
At
thrift
at commercial commercial
banks
banks
institutions

At
money
market
funds

Total

113.3

133.9

33.6

280.8

24.4
30.3
25.9

1.3
1.3
1.3
1.2

115.6
117.7
119.5

134.0
133.8
133.6

34.0
34.2
34.3

283.6
285.8
287.4

APR.
MAY
JUNE

3.4
3.4
3.3

3.6
5.1
3.4
5.5

JULY
AUG.
SEP.

3.3
3.2
3.2

3.4
3.8
5.1

5.4
5.4
6.4

11.9
19.7
25.9

20.6
28.9
37.5

1.3
1.4
1.2

121.1
122.6
124.4

133.5
133.1
132.5

34.4
35.2
36.9

289.0
291.0
293.8

OCT.
NOV.
DEC.

3.6
3.3
3.2

3.5
3.7
5.0

5.5
5.6
5.2

17.5
15.4
18.1

26.4
24.8
28.2

1.4
1.4
1.4

126.8
128.6
130.3

132.0
131.5
130.7

37.9
39.2
40.7

296.7
299.3
301.7

1991-JAN.
FEB.
MAR.

3.2
3.2
3.2

4.9
4.2
5.1

7.8
11.5
6.8

24.5
35.1
23.3

37.2
50.8
35.1

1.3
1.3
1.3

132.1
133.6
135.3

130.3
130.3
130.3

41.5
42.1
42.8 e

303.9
306.0
308.4 e

APR.
MAY
JUNE

3.3
3.3
3.3

5.3
3.6
5.0

4.7
5.6
6.3

15.0
16.2
18.6

25.1
25.4
29.9

1.3
1.5
1.6

137.3
138.9
140.3

129.9
129.2
127.8

43.6 e
44.0 e
44.5 e

310.8 e
312.1 e
312.5 e

141.8

126.4 e

44.8 e

312.9 e

8.8

JULY

8.2

1.4

3.2

3.7

6.6

17.1

27.3

1.6

31.5
16.8
13.8
15.8
18.5
22.0
12.9
10.9
11.0

44.9
28.2
23.7
25.7
27.6
32.1
22.7
20.3
19.3

1.6
1.6
1.6
1.6
1.6

Neek ending
1991-JULY

1
8
15
22
29

7.8
8.6
8.3
8.0
7.8

1.5
1.4
1.3
1.4
1.6

3.3
3.2
3.2
3.2
3.2

4.3
4.0
3.6
3.4
3.1

9.2
7.5
6.3
6.6
6.0

AUG.

5
12

8.2
8.5
8.2
8.0

1.3
1.3
1.4
1.4

3.2
3.2
3.2
3.2

4.5
3.1
4.2
3.0

5.5
6.6
5.3
5.3

26p

e—indicates estimated data,
p—indicates preliminary data.




1.5
1.5
1.5
1.5