Full text of H.6 Money Stock Measures : September 6, 1990

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FEDERAL RESERVE statistical release
*f^iR£^V

H.6 (503)
Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES

SEPTEMBER

Billions of dollars
Date

M1 J

M2^

M3 J

6, 1990

DEBT

Seasonally adjusted
1988-AUG.
SEP.
OCT.
NOV.
DEC.

784.4
784.8
785.1
786.0
787.5

3037.7
3041.1
3048.8
3064.1
3072.4

3858.1
3867.2
3883.8
3903.5
3918.4

4584.8
4592.9
4613.7
4644.1
4676.0

8805.9
8868.3
8927.9
9000.8
9062.0

1989-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

785.8
786.7
785.5
782.1
776.2
773.7
779.1
780.4
782.9
788.1
789.4
794.8

3073.6
3078.1
3086
3089
3085
3101
3127
3146
3163
3181
3201
3221

3926,
3936.
3956.
3965.
3965.
3985.
4007.
4013,
4013.
4018.
4031,
4044,

4683.5
4702.2
4736.1
4762.1
4761.9
4784.4
4810.5
4825.3
4832.0
4841.9
4858.5
4881.8

9115.9
9179.7
9238.3
9295.4
9358.2
9414.9
9465.6
9529.1
9585.2
9654.8
9732.4
9777.6

1990-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY

794.8
801.4
804.8
807.3
805.4
809.4
809.2

3231.4
3256.1
3271.5
3277.9
3271.8
3279.0
3284.0

4049.3
4065.2
4069.8
4073.7
4065.9
4069.6
4072.8

4885.4
4896.6
4916.3
4928.5
4903.2
4930.5 p

1988-AUG.
SEP.
OCT.
NOV.
DEC.

782.4
781.1
782.2
788.3
804.5

3037.
3034.
3046.
3067.
3085.

3857.5
3864.5
3884.1
3912.4
3932.5

4579.8
4588.6
4613.5
4652.2
4692.7

8759.9
8830.5
8894.4
8969.0
9047.3

1989-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY
AUG.
SEP.
OCT.
NOV.
DEC.

793.5
773.0
775.9
791.6
767.7
774.4
782.3
778.1
779.1
785.0
791.7
812.1

3085.6
3065.8
3080.7
3100.2
3071.2
3099.1
3132.8
3146.5
3156.6
3179.3
3204.8
3234.5

3935.
3925.
3954.
3971.
3950.
3978.
4005.8
4012.7
4010.6
4018.3
4040.9
4058.6

4701
4696
4733.8
4764.9
4750
4777
4799
4819
4827
4842
4867
4899.5

9099.9
9143.7
9197.5
9253.9
9315.7
9375.8
9424.9
9486.1
9550.6
9623.6
9700.6
9762.2

1990-JAN.
FEB.
MAR.
APR.
MAY
JUNE
JULY

802.3
788.0
795.7
817.3
796.4
810.0
812.2

3243.1
3244.0
3266.3
3289.1
3256.8
3276.2
3289.6

4058.3
4053.8
4068..5
4080..4
4050..2
4063..2
4071.9

4904.
4891,
4914,
4931,
4890,
4921.8 p

9824.8
9886.4
9947.1
9997.1
10043.8
10105.4 p

Not seasonally adjusted

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




9813.8
9856.2
9908.5
9958.1
10002.0
10065.1

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. 1990 TO JULY 1990

0.9

0.7

-0.1

6.4

6 Months from JAN. 1990 TO JULY 1990

3.6

3.3

1.2

6.7

12 Months from JULY 1989 to JULY 1990

3.9

5.0

1.6

7.3

Thirteen weeks ending AUGUST 27, 1990
from thirteen weeks ending:

28, 1990 (13 weeks previous)

2.7

1.6

0.6

FEB. 26, 1990 (26 weeks previous)

3.7

3.2

1.2

AUG. 28, 1989 (52 weeks previous)

4.3

5.2

1.9

MAY

1.

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely,
March 1990 to June 1990, December 1989 to June 1990, and June 1989 to June 1990, respectively.

1.

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 (NOH) and
automatic transfer service (ATS) accounts at depository institutions, credit union snare draft accounts and demand deposits
at thrift institutions. Seasonally adjusted Ml is calculated by summing currency, travelers checks, demand deposits, and
OCDs, 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—incuding 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-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
governments 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 quartei—end
basis and include discontinuities.

Footnotes to Table 1

2.

3.

4.
5.




H.6 (508)
Table 3

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

Period en<ding

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

1990-JUNE

4
11
18
25

805.7
806.1
806. 4
806.7

805.4
806.5
806.5
807.9

807.8
807.3
807.2
809.2

3273.7
3274.2
3274.9
3275.2

3270.6
3271.4
3273.2
3276.5

3270.6
3275.5
3279.4
3280.5

4069.3
4069.5
4069.5
4069.2

4064.6
4065.6
4066.3
4068.4

4065.0
4071.6
4069.1
4068.0

JULY

2
9
16
23
30

807.5
807.8
807.5
807.7
807.9

810.4
811.1
811.2
810.8
808.6

817.7
810.3
807.7
807.5
809.0

3276.4
3277.0
3277.5
3277.7
3278.1

3280.9
3283.6
3285.3
3285.4
3283.4

3288.1
3286.5
3286.2
3280.7
3280.0

4069.7
4069.7
4068.7
4068.7
4069.4

4070.4
4071.5
4071.9
4072.9
4072.6

4073.0
4075.9
4070.5
4072.3
4071.7

AUG.

6
13
20p
27p

808.5
809.4
810.2
811.1

809.3
811.1
813.7
815.3

813.0
815.0
817.6
815.4

3279.3
3281.3
3283.9
3286.7

3284.5
3287.7
3293.9
3300.1

3291.2
3298.9
3305.4
3304.7

4070.2
4071.5
4073.1
4075.5

4074.1
4077.6
4081.4
4086.3

4081.8
4084.5
4087.4
4091.3

Not seasonally adjusted

Period emding

13-week
average

4-week
average

M3

M2

Ml
week
average

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

1990-JUNE

4
11
18
25

803.6
805.1
806.4
807.1

798.0
802.5
806.4
809.2

812.7
816.8
811.2
796.1

3271.3
3272.4
3273.4
3273.6

3259.5
3264.8
3270.2
3274.5

3276.5
3282.6
3278.0
3260.7

4066.2
4066.5
4066.4
4065.2

4053.4
4058.5
4062.0
4063.4

4069.1
4075.0
4064.7
4044.6

JULY

2
9
16
23
30

808.1
808.4
807.4
806.3
806.1

809.6
812.3
813.9
815.4
811.1

814.4
827.5
817.5
802.1
797.1

3273.9
3273.8
3273.6
3273.2
3274.0

3276.4
3282.0
3287.3
3291.7
3288.6

3284.1
3305.1
3299.1
3278.6
3271.7

4064.2
4062.8
4060.9
4060.6
4061.6

4062.0
4064.5
4067.3
4072.3
4071.1

4063.6
4085.2
4075.6
4064.7
4058.9

AUG.

6
13
20p
27p

807.3
809.0
810.6
811.8

809.3
810.0
813.6
814.4

820.6
820.3
816.2
800.4

3276.9
3280.5
3284.4
3288.0

3287.7
3290.0
3297.2
3302.0

3301.4
3308.3
3307.2
3290.9

4064.2
4067.2
4070.1
4073.3

4072.0
4076.6
4082.5
4087.9

4088.7
4094.0
4088.5
4080.2

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



H.6 ( 5 0 8 )
Table 4

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
B i l l i o n s of d o l l a r s , seasonally adjusted
Nontransactions
components

Other checkable deposits

Date

Currency

1989-MAR.

215.3

1

T r a v e l e r2s
checks

Demand
deposits 3

At
commercial
banks 4

7.3

283.9

191.7

Total

In M 2

6

In M3
only 7

General purpose
and broker/dealer
money market funds

87.4

279.1

2301.4

869.6

253.4

At
thrift
institutions5

APR.
MAY
JUNE

215.
216.
217.

281,
279,
276,

191. 4
188.5
188.7

86,
84,
84,

277.9
272.8
273.0

2307.
2309.
2327.

875.
880.
883.

257.8
261.2
268.3

JULY
AUG.
SEP.

217.8
218.6
219.3

279.6
278.5
278.1

189.8
191.1
192.4

84,
85,
86,

274
276,
278

2348.
2366.
2380.6

880.
866.
850.

277.7
287.8
295.9

OCT.
NOV.
DEC.

220,
220.
221,

280.0
278.8
279.7

194.
195,
197.

86.
86,
87.8

280.8
282.8
285.7

2393.8
2411.8
2426.8

836.
830.
823.

302.7
309.0
312.4

1990-JAN.
FEB.
MAR.

224
226,
228,

277.
280.
279.

198.0
199.3
201.0

87.
87.
88.

285.4
287.0
289.5

2436.
2454.
2466.

817.9
809.1
798.3

318.
325.
325.

APR.
MAY
JUNE

230,
231,
233,

277.8
274.5
274.5

202.8
203.2
205.7

89.
88.
88.

291.8
291.5
293.8

2470.
2466.
2469.6

795.8
794.1
790.6

325.8
320.4
321.9

JULY

235.4

274.8

204.0

87.3

291.3

2474.8

788.9

325.1

7.7

Neek ending
1990-JULY

AUG.

2
9
16
23
30

234.
234.
234.
235.
236.

278.9
275.8
274.0
274.0
274.4

208,
205,
203,
203,
202.

88.
87.
87.
86.
87.

296.
292.
291.
289.
290.

2470,
2476.
2478,
2473,
2471.

784.
789.
784.
791.
791.

324.6
323.6
325.1
324.9
326.5

6
13
20p
27p

236.5
237.1
238.3
240.0

276.6
278.1
279.8
276.3

204.
204.
204.
203.8

87.
87.
87.
87.

292.
292.
291.
291,

2478.2
2483.9
2487.8
2489.3

790.
785.
782.
786.

326,
332,
333,
338,

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 NOH and ATS balances at commercial banks, U.S. branches and agencies of foreign 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 overniqht 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.




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H.6 (508)
Table 4-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, seasonally adjusted
Debt components 4

Non-M3 Components of L
Institutiononly money
market funds

Date

Savings
bonds

Short-term
Treasury
securities1

Bankers
acceptances2

Commercial
paper 3

Federal
debt

Non-Federal
debt

348.3

2158.7

7079.5

358.2
348.8
349.4

2168.8
2176.4
2184.2

7126.6
7181.8
7230.7

1989-MAR.

86.3

111.5

278.3

APR.
MAY
JUNE

88.3
92.1
96.3

112.2
112.8
113.6

285.
293,
295.

41.4
41.
41,
41.

JULY
AUG.
SEP.

99.0
101.4
101.6

114.
115.
115.

297.
300.
311.

41.9
42.6
41.0

349.
354.
350.

2184.
2200.
2220.

7281.6
7328.4
7364.5

OCT.
NOV.
DEC.

101.1
101.1
102.3

116.2
116.8
117.5

317.6
318.8
330.6

40,
40,
41.

350.
351.
347.

2238.
2258.
2265.

7416.
7473.
7511.

1990-JAN.
FEB.
MAR.

103.2
103.7
105.4

117.
118.
119.

334. 3
330.,2
347.,7

40.
38.
37.

343.
344.
342.

2275.9
2297.3
2325.9

7548.9
7589.1
7621.2

APR.
MAY
JUNE

106.8
107.3
107.3

119.9
120.7
121 5 p

341.,7
331. 7
352.,0 p

35.
35.
33.

357.
349.
353.

2340.9
2353.8
2380.2 p

7656.2
7690.0
7725.2 p

JULY

108.9

Neek ending
1990-JULY

AUG.

2
9
16
23
30

107.4
108.0
107.9
109.8
109.9

6
13
20p
27p

111.1
113.2
115.4
114.9

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.
2.
Net of bankers acceptances held 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.




H.6 ( 5 0 8 )
Table 5

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars> not seasonally adjusted
Other checkable deposi ts

Date

Currency

1989-MAR.

1

Demand
Travelers
checks 2 deposits 3

At
commercial
banks 4

At
thrift
institutions5

Nontransactions
components

Total

In M 2

6

In M3
only7

Overnight
RPs 8

Overnight
Eurodollars9

General purpose
and broker/dealer
money market funds

213.9

7.0

276.0

192.7

86.3

279.0

2304.8

873.7

67.7

14.3

256.8

APR.
MAY
JUNE

215.1
216.6
218.4

7.0
7.1
7.5

283.3
273.6
276.7

197.6
186.2
187.0

88.7
84.1
84.8

286.3
270.3
271.8

2308.5
2303.5
2324.7

870.9
879.6
879.4

64.1
63.2
65.0

14.4
14.6
14.6

260.7
260.7
266.8

JULY
AUG.
SEP.

219.7
219.2
218.6

8.1
8.1
7.7

281.8
277.1
276.3

187.4
188.7
190.7

85.3
85.0
85.9

272.7
273.7
276.5

2350.4
2368.5
2377.5

873.1
866.2
854.0

64.2
63.2
59.6

16.8
15.2
15.5

275.6
286.8
294.9

OCT.
NOV.
DEC.

218.9
221.0
225.3

7.3
7.0
6.9

280.7
281.5
291.6

191.6
194.9
200.3

86.5
87.2
88.1

278.1
282.1
288.4

2394.3
2413.1
2422.4

838.9
836.1
824.2

61.6
62.2
63.1

14.1
13.2
14.3

301,
309.
312.

1990-JAN.
FEB.
MAR.

222.9
224.2
227.0

7.0
7.2
7.3

283.0
271.4
271.6

202.5
199.5
202.2

87.0
85.7
87.6

289.4
285.2
289.7

2440.8
2456.0
2470.6

815.2
809.8
802.1

64.6
67.5
67.0

17.3
15.3
15.4

317.
326.
330.

APR.
MAY
JUNE

229.5
231.7
234.8

7.3
7.5
8.1

279.8
268.5
274.8

209.4
200.7
203.7

91.3
88.0
88.6

300.7
288.7
292.3

2471.8
2460.4
2466.2

791.3
793.4
787.1

64.3
66.7
66.9

15.5
17.2
15.7

329.
319.
319.8

JULY

237.1

8.6

277.0

201.3

88.0

289.4

2477.4

782.3

68.3

15.7

322.3

2
9
16
23
30

235.1
238.7
237.3
236.8
236.1

8.4
8.5
8.6
8.7
8.8

281.5
283.2
280.5
271.6
269.5

201,
206.
202.
198.
197,

87.
90.
89.
86.
85.

289,
297.
291.
285.
282.

2469.
2477.
2481,
2476.
2474,

779.5
780.1
776.5
786.1
787.2

66.1
68.4
69.3
68.7
67.2

16.7
16.7
16.0
15.0
14.8

320.3
318.8
322.9
322.8
325.0

6
13
20p
27p

239.1
239.8
239.5
238.5

8.9
8.8 e
8.8 e
8.7 e

278.2
280.3
279.5
269.3

204.
203.
201.
199.

90.
88.
87.
85.

294.3
291.5
288.4
284.0

2480.8
2488.0
2491.0
2490.5

787.3
785.7
781.3
789.3

69.0
65.9
68.8
67.0

14.
15.
15.
14.

325.1
331.1
332.8
338.2

Neek ending
1990-JULY

AUG.

1.
2.

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollai—denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are
included in demand deposits.
3.
Demand deposits at commercial banks and foreian-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 NOH 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.
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.
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).
e--indicates estimated data,
p—indicates preliminary data.




H.6 (508)
Table 5-continued

COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT
Billions of dollars, not seasonally adjusted
Savings deposits1

Money market deposit accounts
At
commercial
thrift
institutions
banks

Date

Total

A
At
*
thrift
commerciail
institutions
banks

Small-denomination time deposits 2

Total

At
At
commercial
thrift
institutions
banks

Total

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

Total

1989-MAR.

341.2

140.6

481.7

187.8

229.3

417.0

475.7

591.4

1067.1

388.8

173.3

562.1

APR.
MAY
JUNE

337.2
328.0
329.0

135.6
130.7
129.6

472.8
458.8
458.6

186.3
183.7
183.5

226.6
222.7
222.7

412.9
406.4
406.2

486.3
496.0
502.5

597.4
603.8
611.0

1083.7
1099.8
1113.5

392.2
396.1
396.4

174.4
176.4
176.1

566.6
572.5
572.6

JULY
AUG.
SEP.

331.5
336.4
339.6

129.8
130.6
131.1

461.4
467.0
470.6

184.7
184.4
184.4

222.7
220.5
220.3

407.3
404.9
404.6

507.1
511.3
513.9

618.0
619.9
618.2

1125.1
1131.2
1132.1

396.5
398.4
398.6

174.2
172.0
168.8

570.7
570.4
56,7.4

OCT.
NOV.
DEC.

342.7
350.3
355.0

131.8
132.8
132.8

474.6
483.1
487.8

185.9
187.1
187.2

221.3
220.5
219.0

407.2
407.6
406.2

519.2
523.1
526.4

616.3
614.2
612.3

1135.5
1137.3
1138.8

399.9
401.9
399.8

165.5
161.7
158.3

565.4
563.6
558.1

1990-JAN.
FEB.
MAR.

356.3
357.7
360.8

132.9
133.3
136.1

489.3
491.1
496.9

189.0
190.5
193.2

218.8
219.5
220.9

407.7
410.0
414.1

530.8
535.2
538.3

613.7
610.1
608.5

1144.5
1145.3
1146.8

399.3
399.7
399.7

154.1
150.6
146.4

553.4
550.2
546.1

APR.
MAY
JUNE

362.4
361.0
365.8

135.9
133.8
132.5

498.3
494.8
498.2

194.2
194.0
196.1

222.4
221.8
222.3

416.6
415.9
418.4

541.7
549.7
560.4

606.0
596.5
586.8

1147.7
1146.2
1147.2

395.2
397.4
397.3

141.6
137.5
133.5

536.8
534.9
530.8

JULY

368.1

131.2

499.3

197.3

223.0

420.3

569.9

581.6

1151.5

397.7

129.4

527.1

2
9
16
23
30

364.7
367.8
369.4
367.9
367.6

131,
131,
131,
131.
130.

495.8
499.5
501.1
498.9
498.2

197.
198.
197,
197.
196,

222,
224,
224,
222.
221.

419.7
422.9
421.3
419.5
417.6

565.4
569.0
569.5
570.5
570.9

585,
582.
581,
581,
580.

1151,
1151,
1151,
1151,
1151,

394,
398,
398,
398,
397.

131.8
130.2
129.6
129.1
128.6

526.1
528.3
527.8
527.5
526.0

6
13
20p
27p

370.2
372.2
374.5
373.3

131.
131.
130.
131.

501,
503.
505.
504.

196.
196.
196.
195.

222.
222.
221.
219.

418.8
418.9
417.7
415.3

571.7
572.5
573.5
574.2

581.0
580.4
577.8
577.1

1152.
1152.
1151.
1151.

397.0
397.8
398.8
398.7

128.
127.
126.
126.

525
525
525
525

Neek ending
1990-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 subtractec from small time deposits.
Tflfl or
f i r more,
m n r o . excluding
e>vri 11 iHi nn those
+hn«e booked
hnnkeH at
a+ international
i r*+or»r»a + i r»r»s» 1banking
hi,,
„ , facilities.
i «av-A a. * ». *«=;=. .
3.
Large-denomination time deposits are those issued in amounts of $100,000
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




11NXI

H.6 (508)
Table 5-continued

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

Date

Debt components 6

Non-M3 Components of L

Total

Term
Eurodollars2

Savings
bonds

Short-term
Treasury
securities"*

Bankers
acceptances*

Commercial
paper 5

Federal
debt

Non-Federal
debt

1989-MAR.

87.6

46.3

82.6

128.9

105.7

111.7

277.8

40.4

349.4

2149.0

7048.5

APR.
MAY
JUNE

87.7
91.6
95.1

43.8
43.7
43.7

82.5
83.8
84.7

126.3
127.5
128.4

100.3
97.2
93.4

112.4
113.0
113.7

284.4
289.1
288.1

41.0
41.2
41.5

356.1
356.2
355.4

2155.1
2159.5
2165.1

7098.8
7156.2
7210.7

JULY
AUG.
SEP.

98.2
100.6
99.2

45.1
45.4
47.9

79.0
72.2
66.0

124.1
117.6
113.9

91.8
89.8
85.6

114.2
114.7
115.4

288.4
296.7
312.0

42.2
42.7
41.6

348.8
353.1
348.0

2163.7
2179.6
2200.9

7261.2
7306.4
7349.7

OCT.
NOV.
DEC.

98.7
102.1
102.9

48.5
50.0
45.9

61.2
58.9
51.0

109.6
108.9
96.9

80.2
79.5
81.4

116.0
116.6
117.3

321.6
325.8
337.1

40.4
41.0
41.7

345.8
343.3
344.7

2222.6
2250.7
2264.1

7401.0
7449.9
7498.1

1990-JAN.
FEB.
MAR.

106.0
107.0
106.8

47.5
51.6
50.1

46.1
45.4
45.0

93.6
96.9
95.2

74.4
68.8
67.0

118.0
118.5
119.4

340.4
334.5
346.6

40.4
37.5
36.1

347.3
347.6
343.8

2275.6
2293.1
2317.3

7538.1
7563.1
7591.2

APR.
MAY
JUNE

105.8
106.7
106.1

49.6
50.1
53.4

45.2
45.7
45.4

94.8
95.8
98.7

65.9
67.6
64.8

120.2
120.9
121.6 p

340.6
326.9
343.2 p

35.3
35.2
34.2 p

355.4
357.6
359.6 p

2329.1
2337.8
2361.3 p

7629.0
7664.2
7703.8 p

JULY

108.1

53.5

43.5

97.0

64.0

2
9
16
23
30

105.6
106.3
106.8
109.8
110.0

52.
51,
52.
54.
55.

45.
45.
43.
42.
42.

98.3
96.8
96.2
96.7
97.8

63
62
61
65
66.

6
13
20p
27p

110.9
112.7
113.8
114.6

55.
56.
54.
56,

42.
42.
43.
42.

98.
99.
97.
99.8

66,
62,
66.
66.

Neek ending
1990-JULY

AUG.

1.
2.

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 bankina 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 less than 12 months held by other than depository institutions, Federal
Reserve Banks, money market mutual funds, and foreign entities.
4.
Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market
mutual funds.
5.
Total commercial paper less 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—indicates preliminary data.




H.6 (508)
Table 6

MEMORANDUM ITEMS
10

Billions of dollars> not seasonally adjusted
Demand deposits
at banks due to

U.S. government depo<sits

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

Date

Demand
deposits at
commercial
banks

Balance
at
Federal
Reserve

Note balances
at depository
institutions

Total
cash
balance

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

At
money
market
funds

Total

1989-MAR.

8.8

1.7

4.2

3.8

5.2

14.3

23.3

1.3

97.4

125.4

22.2

244.9

APR.
MAY
JUNE

8.9
8.9
10.0

1.6
1.6
1.7

4.2
4.0
3.8

5.2
3.3
4.6

8.9
14.1
9.7

15.0
31.0
21.6

29.0
48.5
35.8

1.4
1.4
1.4

99.9
101.8
102.8

127.3
128.6
130.0

23.1
23.6
23.8

250.3
254.0
256.5

JULY
AUG.
SEP.

10.0
8.9
9.4

1.7
1.6
1.7

3.7
3.7
3.7

3.4
3.2
5.5

6.4
5.4
7.8

19.6
12.7
19.4

29.4
21.2
32.6

1.4
1.3
1.3

104.1
105.3
106.0

131.2
131.4
132.2

24.7
24.8
26.4

260.0
261.5
264.6

OCT.
NOV.
DEC.

9.9
9.4
9.7

1.7
1.5
1.5

3.7
3.7
3.6

3.3
3.5
5.2

5.9
5.2
4.8

17.4
11.2
14.4

26.5
19.9
24.5

1.4
1.4
1.4

107.3
108.0
108.7

132.5
132.3
133.3

27.1
27.5
28.0

266.9
267.8
270.0

1990-JAN.
FEB.
MAR.

9.8
9.1
9.0

1.6
1.6
1.6

3.6
3.6
3.6

4.4
3.5
3.6

6.0
6.2
5.3

18.8
18.5
13.1

29.1
28.2
22.0

1.4
1.3
1.3

110.3
112.0
113.3

133.9
133.9
133.9

29.6
31.2
31.7

273.8
277.0
278.9

APR.
MAY
JUNE

9.1
9.3
9.0

1.5
1.8
1.5

3.6
3.6
3.6

5.1
3.4
5.5

4.4
5.1
5.0

14.9
21.8
15.4

24.4
30.3
25.9

1.3
1.3
1.3

115.6
117.7
119.5

134.7 e
135.3 e
135.5 e

32.2
32.6 e
32.7 e

282.5 e
285.6 e
287.7 e

JULY

8.9

1.5

3.5

3.4

5.4

11.9

20.6

1.3

120.9

135.9 e

32.8 e

289.6 e

2
9
16
23
30

9.2
9.3
8.6
8.9
8.6

1.6
1.6
1.5
1.6
1.4

3.6
3.6
3.5
3.5
3.5

3.4
4.2
3.4
2.9
3.0

5.5
6.3
5.0
5.1
5.1

27.6
5.1
6.2
15.0
16.7

36.4
15.5
14.6
23.0
24.7

1.3
1.3
1.3
1.3
1.3

6
13
20p
27p

9.7
8.0
9.3
9.4

1.8
1.5
2.3
1.7

3.5
3.5
3.5
3.5

6.1
2.9
3.8
3.0

5.8
5.3
5.5
5.1

11.6
15.1
22.0
27.2

23.5
23.4
31.3
35.3

1.6
1.3
1.3
1.3

Neek ending
1990-JULY

AUG.

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