Full text of H.6 Money Stock Measures : September 8, 1994
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FEDERAL RESERVE statistical release H.6 (508) Table 1 ?*«Aux&yy MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES For release at 4:30 p.m. Eastern Time Billions of dollars Date SEPTEMBER 8, 1994 M1 ' M22 M33 L4 DEBT5 Seasonally adjusted 1992-AUG. SEP. OCT. NOV. DEC. 976,, 1 989 . 2 1 0 0 4 ..2 1016,.6 1024,.8 3489 3496 3507 3510 3509 .4 .6 .5 .5 .0 4196 4200 4197 4194 4183 .7 .4 .0 .1 .1 5041.0 5056.7 5058.5 5065.4 5057.2 11551 11596 11624 11669 11723 .3 .2 .3 .2 .9 1993-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 1 0 3 3 ..0 1035,.4 1 0 4 0 ..2 1 0 4 7 ,. 1 1 0 6 7 ,. 7 1 0 7 6 ..6 1086,. 8 1 0 9 5 ..3 1 1 0 5 .. 1 1 1 1 3 ..4 1 1 2 2 ..4 1 1 2 8 ..4 3502 3494 3494 3498 3521 3528 3533 3536 3544 3548 3560 3567 .8 .2 .8 .0 .9 .7 .7 .1 .3 .0 .3 .9 4162 .7 4156 .7 4155 .7 4 1 6 3 ,. 3 4188 .9 4189 . 1 4188,.3 4188,.4 4 1 9 7 ..6 4 2 0 5 .. 4 4 2 1 9 ..0 4 2 3 2 .. 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 11751 11773 11816 11865 11914 11987 12045 12098 12158 12195 12245 12318 .1 .4 .5 .5 .9 .1 .8 .1 .7 .9 .0 .5 1994-JAN. FEB. MAR. APR. MAY JUNE JULY 1 1 3 3 .. 5 1 1 3 8 ..6 1 1 4 2 .. 4 1 1 4 1 .. 1 1 1 4 2 . .9 1 1 4 6 ..4 1 1 5 3 ..7 3 5 7 3 ,.2 3 5 6 9 ,.4 3 5 8 3 .. 5 3 5 9 1 ..8 3 5 9 5 . .2 3 5 8 7 . .9 3 6 0 1 . .9 4 2 3 6 .. 3 4 2 0 9 .. 6 4 2 1 7 ..7 4 2 2 7 ..3 4 2 2 5 .. 1 4 2 2 4 . .9 4 2 4 4 ..6 5154.6 5142.9 5142.9 5162.4 5162.0 5153.6 p 12380 .2 12427 .6 1 2 4 8 3 .2 1 2 5 3 4 .2 12584 .6 1 2 6 3 9 ,.6 p 1992-AUG. SEP. OCT. NOV. DEC. 9 7 1 . .0 9 8 3 . .6 1001. 8 1022. 4 1046. 7 3 4 8 4 .. 1 3 4 8 6 . .7 3 5 0 4 ..6 3 5 1 7 . .4 3 5 2 7 . ,6 4 1 9 5 ..5 4 1 9 0 ..0 4 1 9 0 ..5 4 2 0 3 . .6 4 1 9 8 ..3 5032.9 5045.2 5050.4 5083.6 5087.7 1 1 5 1 0 .. 4 1 1 5 6 3 .. 0 1 1 5 9 7 .. 6 1 1 6 6 1 .. 5 1 1 7 2 5 . .7 1993-JAN. FEB. MAR. APR. MAY JUNE JULY AUG. SEP. OCT. NOV. DEC. 1041. 0 1023. 0 1031. 6 1058. 7 1058. 1 1073 . 2 1084. 6 1088. 8 1099 . 1 1111. 8 1129 . 6 1153. 8 3 5 0 8 . ,3 3484. 2 3495. 8 3515. 2 3507 . 3 3 5 2 4 . ,4 3530. 0 3529. 0 3533. 9 3546. 0 3569 . 0 3590. 5 4163. 4150. 4158. 4178. 4179. 4185. 4181. 4185. 4186. 4199. 4230. 4251. 3 1 4 5 9 4 4 1 8 8 6 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 1 1 7 3 7 . .6 1 1 7 4 8 . .4 1 1 7 9 2 . ,9 1 1 8 3 8 . ,3 1 1 8 8 3 . .9 1 1 9 5 3 . .7 1 2 0 0 5 . .9 12059. 2 12125. 2 12166. 8 1 2 2 3 5 .. 1 12320. 9 1994-JAN. FEB. MAR. APR. MAY JUNE JULY 1142. 8 1124. 7 1131. 9 1153. 1 1132 . 8 1142 . 6 1151. 6 3579. 3557. 3581. 3609. 3580. 3583. 3598. 4237. 4200. 4217. 4243. 4216. 4221. 4237. 2 4 7 0 1 5 6 5168.8 5134.6 5146.8 5171.5 5138.8 5143.1 p 12365. 12399. 12458. 12508. 12555. 12606. Not seasonally adjusted Footnotes appear on the following p a g e p preliminary 8 3 9 1 5 7 2 9 6 0 4 3 9 p 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 APR. 1 9 9 4 TO JULY 1 9 9 4 4.4 1.1 1.6 5.0 6 M o n t h s f r o m JAN. 1 9 9 4 TO JULY 1 9 9 4 3.6 1.6 0.4 5.2 12 M o n t h s f r o m JULY 1 9 9 3 t o JULY 1 9 9 4 6.2 1.9 1.3 5.4 3.0 0.6 1.2 T h i r t e e n w e e k s e n d i n g AUGUST 2 9 , 19 9 4 from t h i r t e e n weeks e n d i n g : MAY 3 0 , 1 9 9 4 ( 1 3 w e e k s p r e v i o u s ) 28, 19 9 4 (26 weeks p r e v i o u s ) 3.1 1.4 0.5 AUG. 3 0 , 19 9 3 (52 w e e k s p r e v i o u s ) 5.9 1.8 1.1 FEB. 1. M1 Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, March 1994 to June 1994, December 1993 to June 1994, and June 1993 to June 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 (CCDs), 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 $ 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 neld 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 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. 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. Page3 H.6 (508) Table 3 MONEY STOCK MEASURES Billions of dollars Seasonally adjusted M1 Period ending M2 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 1994-JUNE 6 13 20 27 1142.4 1142.8 1143.2 1143.4 1143.7 1144.4 1145.8 1147.2 1144.7 1145.8 1149.7 1148.7 3591.1 3591.2 3591.1 3591.1 3595.5 3593.6 3589.9 3588.3 3590.2 3588.1 3586.6 3588.2 4224.5 4225.1 4225.1 4225.3 4226.6 4228.0 4226.5 4225.3 4224.6 4228.6 4224.5 4223.5 JULY 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 3591.9 3591.7 3592.3 3593.9 3589.6 3591.6 3595.2 3599.8 3595.5 3596.2 3600.7 3606.6 4226.1 4226.5 4227.1 4229.6 4227.2 4229.1 4233.8 4241.6 4232.2 4236.2 4243.2 4254.9 AUG. 1 1148.2 1148.6 1149.0 1149.9 1150.7 1155.0 1154.5 1153.4 1152.4 1151.3 1158.8 1147.9 1148.5 1154.4 1154.5 3595.6 3595.4 3595.4 3595.2 3595.4 3602.5 3600.8 3599.6 3597.7 3595.4 3606.6 3589.4 3595.6 3599.2 3597.4 4232.3 4233.2 4234.1 4235.1 4236.1 4246.0 4245.0 4242.9 4240.1 4237.9 4249.8 4232.1 4234.9 4243.4 4241.2 8 15 22p 29p Not seasonally adjusted 1994-JUNE 6 13 20 27 1140.2 1141.4 1142.5 1142.7 1134.7 1137.8 1143.5 1143.3 1157.4 1152.0 1142.6 1121.2 3591.6 3592.2 3592.1 3591.0 3583.6 3586.9 3588.6 3584.8 3605.3 3601.3 3579.1 3553.3 4227.1 4228.2 4227.9 4226.9 4220.6 4227.2 4229.1 4223.5 4242.2 4246.8 4216.9 4188.0 JULY 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 3590.4 3588.7 3586.8 3586.6 3583.4 3587.4 3593.1 3599.1 3599.8 3617.5 3601.8 3577.4 4226.2 4224.6 4222.7 4223.4 4220.1 4221.1 4227.4 4236.2 4228.6 4250.9 4242.0 4223.3 AUG. 1 8 15 22p 29p 1142.6 1143.6 1144.6 1146.1 1146.6 1149.6 1147.1 1147.1 1148.4 1144.6 1144.2 1157.6 1152.6 1139.3 1128.8 3587.9 3588.7 3589.7 3590.6 3590.4 3596.1 3591.8 3591.8 3593.4 3588.2 3587.5 3600.6 3601.6 3583.8 3566.7 4225.7 4227.5 4229.4 4231.1 4231.5 4237.1 4235.8 4236.8 4238.7 4234.8 4232.2 4245.8 4245.9 4231.0 4216.4 Note: Special caution should be taken in interpreting week-to-week c h a n g e s 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 Currency1 Date Demand deposits3 Nontransactions components Other checkable deposits At commercial banks4 At thrift institutions5 Total In M26 In M3 only7 ^ 299.3 8 .. 0 344,.3 2 8 4 , .9 1 0 3 . .6 3 8 8 ..5 2 4 5 4 ,.6 6 6 0 , .9 APR. HAY JUNE 301.8 304.4 307. 8 .. 1 8 .. 1 8 .. 0 3 4 9 ,. 0 358,.8 3 6 2 , .2 2 8 4 , .2 2 9 0 ..3 292 . 4 104,. 1 106,. 1 106,.8 3 8 8 . .2 3 9 6 . .4 3 9 9 ..2 2 4 5 0 , .9 2 4 5 4 ,. 1 2 4 5 2 ,. 1 6 6 5 ..3 6 6 7 .. 1 6 6 0 . .4 309.7 312.4 315.4 7 , .9 7 .. 8 7 .. 8 366,.4 3 7 0 , .9 375 .4 294,.8 2 9 5 , .9 297,.8 1 0 8 .. 0 108,.3 1 0 8 .. 8 4 0 2 ..8 4 0 4 . .2 406,.6 2 4 4 6 , .9 2 4 4 0 ,.8 2 4 3 9 , .2 6 5 4 . .6 6 5 2 . .3 6 5 3 ..3 OCT NOV. DEC. 317 .6 319.5 321.4 7 .. 8 7 . .9 7 . .9 378 .4 3 8 3 ..2 384 .8 299,. 1 300,.8 302,.6 1 1 0 ..4 1 1 1 ..0 I l l , .7 409,.5 4 1 1 ,.8 414,.3 2 4 3 4 , .7 2 4 3 7 , .9 2 4 3 9 ,. 5 6 5 7 ..3 6 5 8 . .6 6 6 4 .. 1 199 4 - J A N £ FEB. MAR: 325.2 329.2 332.4 7 . .9 7 .. 9 8 .. 0 388,.3 390,.3 3 9 0 .0 3 0 0 ,.4 2 9 9 , .2 300,.0 111,.6 1 1 2 ..0 1 1 2 ..0 4 1 2 . .0 4 1 1 , .2 4 1 1 , .9 2 4 3 9 ,.6 2 4 3 0 , .9 2441,.1 663 . 1 6 4 0 ,.2 6 3 4 . .2 APR. MAY JUNE 334.8 337.6 340.3 8 .. 1 8 .. 1 8 .. 1 3 8 8 , .9 385 .8 3 8 6 ,.6 298,.3 300,.8 301,.3 1 1 1 ..0 1 1 0 ..5 1 1 0 .. 1 4 0 9 ,.3 4 1 1 . .2 4 1 1 . .4 2 4 5 0 , .6 2 4 5 2 ,.3 2 4 4 1 ..5 635 .5 630,.0 637,.0 JULY 343.2 8 .. 2 389 .6 3 0 2 ,. 4 1 1 0 . .2 4 1 2 , .7 2 4 4 8 , .2 642,.8 342.3 341.8 342.5 343.6 8 ,. 2 8 .. 2 8 .. 2 8 .. 3 382 388 390 393 .1 .2 .6 .0 302,.3 302,.0 3 0 1 .9 3 0 2 , .9 110,.5 ' 1 0 9 ..7 109,.5 1 1 0 , .7 412,.8 4 1 1 ,.6 4 1 1 ,.4 4 1 3 ,.6 2 4 5 0 ,. 1 2 4 4 6 ,.3 2 4 4 8 .0 2448 .1 636 .7 640,. 1 642 .5 648 .3 344.8 344.4 344.7 345.5 347.0 8 .. 3 8 .. 3 8 ,. 2 8 ,. 2 8 .. 1 3 9 2 , .9 384 .8 3 8 6 .6 390 .3 388 .6 302,. 1 3 0 1 .2 3 0 0 , .2 3 0 1 .4 3 0 2 ,. 1 1 1 0 , .7 109,.2 108,.8 109,. 1 108,.7 412,.8 410,.4 4 0 9 ,. 0 410,.5 4 1 0 , .7 2 4 4 7 ,.8 2 4 4 1 .5 2 4 4 7 ,. 1 2 4 4 4 ,.7 2 4 4 2 , .9 643 642 639 644 643 1993-MAR. JULY AUG. SEP. f •' Week endliiCT 1994-JULY 4 11 18 25 AUG. 1. 2. 3. Travelers checks2 1 8 15 22p 29p e e e e .2 .7 .4 .3 .8 Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions. Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits. Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float. 4. Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. 5. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including money market deposit accounts) and small time deposits. This sum is seasonally adjusted a s a whole. 7. Sum of large time deposits, term RPs and Eurodollars of U.S. residents, money market fund balances (institution-only), less the estimated amount of overnight RPs and Eurodollars held by institution-only money market mutual funds. This sum is seasonally adjusted as a whole. http://fraser.stlouisfed.org/ e estimated p preliminary Federal Reserve Bank of St. Louis Page 5 H.6(508) Table 4 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted Savings deposits 1 Date 3. 4. p General purpose and broker/dealer money market funds Institutiononly money market funds Large-denomination time deposits 3 At commercial banks At thrift institutions Total At commercial banks At thrift institutions 1993-MAR. 757.2 425.3 1182.4 501.7 345.1 846.8 345.9 197.7 279.8 65.1 344.8 APR. HAY JUNE 759.5 766.7 771.0 426.0 428.4 429.4 1185.5 1195.1 1200.4 496.6 491.9 487.5 342.8 340.5 336.3 839.4 832.4 823.9 345.9 348.5 347.5 196.3 198.0 194.7 283.6 283.6 280.9 65.3 64.7 64.4 348.8 348.2 345.3 JULY AUG. SEP. 771.7 775.4 778.0 430.4 430.5 430.4 1202.1 1205.9 1208.4 483.0 478.6 475.4 331.5 328.0 324.5 814.5 806.6 799.9 346.6 345.5 345.0 192.6 190.1 190.8 277.4 277.8 276.6 64.5 63.9 63.8 341.8 341.6 340.4 OCT. NOV. DEC. 778.4 782.4 785.3 430.4 429.5 430.2 1208.8 1211.9 1215.5 472.4 469.5 468.5 322.4 321.1 317.1 794.9 790.6 785.6 344.4 347.0 348.8 194.3 194.8 197.0 277.9 275.9 277.1 63.7 63.5 61.8 341.6 339.4 339.0 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 61.7 60.9 341.5 335.7 330.9 APR. MAY 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 59.8 60.1 330.5 333.5 333.9 JULY 777.7 424.6 1202.4 468.8 303.7 772.5 363.5 170.9 276.5 60.8 337.3 1994-JULY 777.7 777.4 778.3 777.6 426.5 425.2 424.6 424.1 1204.2 1202.6 1202.9 1201.7 467.7 468.0 468.6 469.5 302.6 302.9 303.5 304.4 770.2 770.9 772.2 773.9 361.7 363.6 364.7 363.4 177.9 173.6 168.1 169.6 269.8 272.7 278.2 280.3 60.7 60.7 61.0 60.7 330.5 333.3 339.1 341.0 776.7 775.7 775.2 776.3 777.4 423.0 420.5 419.0 418.4 417.2 1199.7 1196.2 1194.2 1194.8 1194.5 469.9 472.7 474.5 475.3 476.8 304.7 303.4 302.8 302.4 302.1 774.7 776.0 777.3 777.8 778.9 363.1 364.9 364.5 363.9 360.6 168.3 172.3 171.3 171.0 163.9 278.7 279.7 281.0 280.4 281.7 60.7 60.7 60.5 60.4 60.4 339.4 340.4 341.5 340.8 342.1 AUG. 1. 2. Small-denomination time deposits 2 1 8 15 22p 29p Total At commercial banks 4 At thrift institutions Total S a v i n g s d e p o s i t s include m o n e y market deposit accounts. 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 l e s s t h a n $ 1 0 0 , 0 0 0 . All IRA a n d K e o g h a c c o u n t b a l a n c e s at c o m m e r c i a l b a n k s a n d thrifts a r e s u b t r a c t e d 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 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 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 i n t e r n a t i o n a l b a n k i n g f a c i l i t i e 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 at c o m m e r c i a l b a n k s l e s s t h o s e h e l d b y 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 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 Utile Savings bonds 1. Short-term Treasury securities1 Bankers acceptances2 Commercial paper3 Federal debt Non-Federal debt 1993-MAR. 162.4 338.5 19.4 361.5 3121.1 8695.4 APR. MAY JUNE 163.6 164.7 165.9 342.4 344.8 346.5 19.3 19.2 18.5 367.1 371.8 370.9 3149.0 3175.8 3208.1 8716.6 8739.1 8779.0 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 3227.8 3252.2 3271.3 8817.9 8846.0 8887.4 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 3266.3 3291.1 3327.6 8929.6 8953.8 8990.9 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 3335.8 3350.3 3375.4 9044.4 9077.2 9107.7 APR. MAY JUNE 174.8 175.7 176.6 361.3 358.8 349.0 14.1 11.4 10.5 384.9 391.0 392.6 3383.6 3395.4 3414.5 9150.6 9189.3 9225.1 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 a c c e ptances 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 Nontransactions components Other checkable deposits At commercial banks4 At thrift institutions5 Total In M26 Overnight RPs8 In M3 only7 Overnight Eurodollars9 1993-MAR. 297.9 7.8 336.5 286.5 103.0 389 . 5 2464.1 662.6 62.7 16.1 APR. MAY JUNE 301.3 304.4 307.4 7.8 7.9 8.2 350.5 352.0 359 . 6 291.9 287.6 290.6 107.3 106.2 107.5 399 .2 393.8 398.0 2456.4 2449.2 2451.2 663.4 672.5 661.0 62.5 61.7 64.8 14.7 13.5 13.7 JULY AUG. SEP. 311.0 312.8 314.8 8.4 8.4 8.2 365.9 367.9 373.1 290.9 292.1 295.0 108.5 107.7 108.0 399 . 3 399.7 403.0 2445.3 2440.2 2434.8 651.4 656.1 652.9 67.7 67.5 70.7 13.5 14.7 14.9 OCT. NOV. DEC. 317.3 319.8 324.9 8.0 7.7 7.6 381.1 391.1 402.6 295.6 299.6 306.3 109.8 111.4 112.4 405.3 410.9 418.6 2434.3 2439.4 2436.7 653.8 661.5 660.9 72.3 73.*2 74.5 17.2 17.4 17.8 1994-JAN. FEB. MAR. 324.0 327.3 330.7 7.7 7.7 7.8 393 . 1 380.6 380.7 306.8 299.6 301.6 111.2 109.5 111.3 417.9 409.1 412.9 2437.0 2432.7 2449.9 657.3 643.1 635.8 77.2 76.6 18.0 16.9 18.4 APR. MAY JUNE 334.4 337.4 340.6 7.8 7.9 8.3 390.3 378.8 383.5 306.3 298.0 299 .4 114.3 110.7 110.7 420.6 408.7 410.1 2456.0 2447.6 2441.2 633.9 635.6 637.7 80.1 80.6 82.8 16.4 18.3 20.1 JULY 344.8 8.8 388.9 298.4 110.8 409.1 2446.6 639.5 82.5 24.8 344.7 345.5 344.2 343.8 8.6 8.7 8.8 8.9 389 .7 396.7 391.8 379.7 300.7 302.9 297.6 294.0 112.1 113.7 110.4 107.5 412.8 416.6 408.0 401.5 2444.0 2450.0 2449.0 2443.5 628.7 633.4 640.2 645.9 86.7 81.3 81.1 82.1 24.5 24.5 24.7 24.4 343.8 347.5 346.4 345.5 344.4 9.0 8.9 8.8 8.7 8.7 387.2 387.4 390.1 381.8 377.4 294.7 301.7 298.1 296.3 293.3 109.4 112.1 109 .2 106.9 105.0 404.2 413.8 407.2 403.2 398.3 2443.3 2443.0 2449.0 2444.5 2437.9 644.7 645.2 644.3 647.2 649.7 83.0 80.3 86.6 85.0 83.5 25.8 22.5 23.4 24.4 25.6 Week e n d i n g 1994-JULY 4 11 18 25 AUG. 1 8 15 22p 29p 1. 2. 3. Travelers checks2 80.1 Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions. Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits. Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float. 4. Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. 5. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum of overnight RPs and Eurodollars, money market fund balances (general purpose and broker/dealer), savings deposits (including money market deposit accounts) and small time deposits. 7. Sum 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 RPs and Eurodollars held by institution-only money market mutual funds. 8. Consists of overnight and continuing contract MPs 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). http://fraser.stlouisfed.org/ e estimated p preliminary Federal Reserve Bank of St. Louis Page8 H.6 (508) Table 5 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Savings deposits1 Date At commercial banks At thrift -MAR. 758.5 426 .0 APR. MAY JUNE 761.9 767.2 773.6 JULY AUG. SEP. Small-denomination time deposits2 General purpose and broker/dealer money market funds Institutiononly money market funds At commercial Large-denomination time deposits3 At commercial At thrift Total 1184.5 501.3 344.8 846 . 1 354,.8 201,. 1 279 .7 65 .0 344 .8 427 .4 428 .6 430 .9 1189.3 1195.8 1204.5 496.1 490.7 487.1 342.4 339.7 336.0 838 .5 830 .5 823,.0 351,.4 3 4 7 , .7 3 4 5 , .2 195,.6 19 9 ,.7 1 9 1 ..0 282 .7 285 .8 282 .8 65 . 1 6 5 , .2 6 4 .. 8 3 4 7 ..8 3 5 1 . .0 3 4 7 . .6 773.6 776.0 776.7 4 3 1 .4 430,.8 429 .7 1205.0 1206.9 1206.4 483.9 479.6 476.7 332.2 328.6 325.4 816,. 1 8 0 8 , .2 802 . 0 3 4 3 . .0 3 4 3 . .0 3 4 0 . .8 1 8 8 ..6 19 0 . . 1 1 8 7 .. 5 277 . 1 279 .5 277,.6 6 4 ,.4 6 4 .. 3 6 4 ,.0 3 4 1 ..5 3 4 3 . .8 3 4 1 . .6 OCT. NOV. DEC. 777.7 784.0 783.9 4 3 0 ..0 4 3 0 ..4 4 2 9 . .4 1207.7 1214.4 1213.2 473.3 468.8 467.6 323.0 320.7 316.4 7 9 6 ..3 7 8 9 .. 5 7 8 3 . .9 3 4 0 . .7 3 4 5 . .0 3 4 7 . .2 1 8 9 ..2 1 9 4 . .0 1 9 5 . .8 2 7 7 ..6 2 7 6 . .2 2 7 6 . .0 6 3 ..7 6 3 . .6 6 1 . .6 3 4 1 . .3 3 3 9 . .8 3 3 7 . .6 1994-JAN. FEB. MAR. 786.1 787 .7 791.3 428.0 427.9 432.3 1214.1 1215.6 1223.6 465.6 463.8 462.1 314.1 310.4 308.3 779.7 774.2 770.4 348.1 349.4 357.4 196.2 186.1 180.5 276.5 272.3 269.8 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 1224.4 1216.9 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 779.6 425.6 1205.2 469.8 304.4 774.2 360.0 167.4 276.2 60.7 336.9 779.3 782.7 781.3 777.3 427.4 428.1 426.3 423.9 1206.6 1210.7 1207.6 1201.2 468.8 469.2 469.7 470.3 303.3 303.7 304.2 304.9 772.1 772.9 774.0 775.2 354.0 360.6 361.7 360.7 166.5 167.4 166.8 167.6 269.6 272.8 276.9 279.7 60.7 60.7 60.7 60.6 330.3 333.5 337.6 340.2 775.8 779.1 778.4 775.6 773.7 422.5 422.4 420.7 418.0 415.2 1198.3 1201.5 1199.2 1193.6 1188.9 470.7 473.7 475.5 476.4 477.7 305.3 304.0 303.4 303.1 302.8 776.0 777.8 779.0 779.4 780.5 360.3 360.9 360.9 362.1 359.4 168.8 170.0 172.1 170.9 166.8 279.3 280.0 282.5 282.7 284.8 60.8 60.8 60.8 60.9 61.1 340.1 340.8 343.3 343.6 345.9 Total At thrift Total Week e n d i n g 1994-JULY 4 11 18 2 5 AUG - 1 8 I5 22 P 29P 1. 2. 3. 4. p 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 9 H.6 (508) Table 5 - continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted Term RPs1 At commercial banks At thrift institutions Total Term Eurodollars2 1993-MAR. 63.7 23.3 87.0 49.9 162.9 342.0 18.9 361.6 3121.4 8671.4 APR. MAY JUNE 65.9 90.1 91.0 94.1 48.8 48.8 45.5 164.2 165.2 70.2 24.2 24.5 23.9 166.1 334.0 336.6 340.7 18.7 19.1 18.5 369.7 366.7 369.5 3142.9 3161.1 3188.9 8695.4 8722.9 8764.8 JULY AUG. SEP. 72.7 72.0 71.2 25.0 25.6 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 8804.1 8829.7 8873.2 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 8917.3 8948.1 8991.5 199 4 - J A N . FEB. MAR. 66.3 63.9 66.4 26.6 27.4 27.2 92.9 91.3 93.6 46.0 48.1 47.1 172.6 173.7 174.6 344. 343. 349. 15.6 15.5 15.2 398 . 9 402 . 0 389 .7 3333.0 3345.4 3374.4 9032.9 9054.3 9083.5 APR. MAY JUNE 70.0 67.6 70.3 27.6 29.1 31.1 97.6 96.7 101.3 47.0 47 . 3 48.8 175.4 176.2 176.9 352. 1 350, 2 343, 4 p 13.7 11.3 10.5 p 387.3 385.0 390.9 p 3376.8 3379.7 3394.5 p 9131.6 9175.6 9212.4 p JULY 68.9 32.7 101.6 49.5 67.3 67.4 69.9 69.7 32 . 0 32.4 33.0 33.2 99.3 99.8 102.9 102.9 48.2 48.2 49.3 51.3 69.4 67.3 64.0 65.7 68.4 32.6 33.6 33.2 33.5 102.0 32.7 101.1 49.8 49.2 48.1 49.2 50.9 Date 66.6 Week e n d i n g 1994-JULY 4 11 18 25 AUG. 1 8 15 22p 29p 1. 2. 3. 4. 5. 6. Debt components6 Non-M3 Components of L 26.0 100.9 97.2 99.2 Savings bonds Short-term Treasury securities3 Bankers acceptances4 Commercial paper5 Federal debt Non-Federal debt Term RPs are those with original maturities greater than one day, excluding continuing contracts and retail RPs. Term Eurodollars are t h o s e 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 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 a c c e p tances 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 b een adjusted to remove discontinuities. Digitizedpfor FRASER preliminary Table 6 MEMORANDUM ITEMS Billions of dollars, not seasonally adjusted Demand deposits at banks due to U.S. government deposits At commercial banks 22 . 8 2 .4 147. .7 121, .2 45 .6 314.4 14 . 5 16 . 1 21 .1 26 . 5 26 . 1 34 . 6 1 .5 2 .6 3 .0 148. .0 146. .9 146. .5 1 1 9 .. 8 1 1 9 ,. 1 1 1 8 ,. 5 45 . 1 46, .0 46, .7 313.0 312.0 311.7 6 .9 5 .7 9 .3 21 .4 20 . 0 23 .2 32 . 5 29 . 5 37 .9 2 .8 3 .1 2 .8 146. .4 146. . 1 145. .8 1 1 8 . .0 1 1 7 .. 5 1 1 6 . .9 4 7 . .3 4 7 . .4 4 7 . .5 311.7 310.9 310.2 4 .5 4 .0 5 .2 5 .9 5 .6 6 .7 12 . 6 8 .8 16, .2 23 . 1 18 . 4 28, . 1 2 .6 2 .7 2 .6 1 4 5 . .2 1 4 4 . ,6 1 4 4 . .2 1 1 6 . .2 1 1 5 . .4 1 1 4 . .7 48. . 1 49. . 1 4 9 . .8 309.5 309.1 308.7 11.0 11.0 11.0 5 .7 4,.2 4..3 7, .3 6,.3 5..2 25, .2 27. .9 15. .7 38, . 3 38, .4 25, . 1 2,. 1 2 .5 2..4 1 4 3 . ,9 1 4 3 . ,6 1 4 2 . ,6 114. 2 e 1 1 4 ., 1 e 1 1 4 . ,0 e 5 0 ., 1 e 5 0 . ,7 e 51. 5 e 308.3 e 308.3 e 308.2 e 1.6 1.5 1.5 11.0 11.0 11.1 7 .. 1 4..2 5. .3 5..6 5..9 5..9 2 0 . .8 2 4 . .3 18. .4 33. . 5 34. .4 2 9 . .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 8.5 1.5 10.7 4. .8 5..4 11. .3 2 1 . .5 2 . .7 142. 6 113. 8 e 54. 5 e 310.9 e 8.3 9.3 8.6 8.3 1.7 1.4 1.4 1.6 11.1 10.7 10.7 10.7 6 ., 1 4 . .0 5 . .5 3 . ,3 6. .4 5. .5 5. -0 5. .2 2 4 . .8 7 . .5 5 . .7 1 1 . ,5 3 7 . .3 1 7 .. 1 1 6 . ,2 2 0 . .0 2 . .6 2 . ,4 2 . ,8 2 . ,8 8.0 9.0 7.1 8.3 7.3 1.4 1.5 1.5 1.6 1.6 10.6 10.7 10.7 10.7 10.7 5. 3. 4. 3. 3. 5 . ,2 5 . ,5 5 ., 1 5 . ,3 5. 2 1 3 ., 1 11. 4 8. 0 9. 2 10. 5 2 3 . ,4 2 0 . ,7 1 7 . ,3 17. 9 19. 0 2 . ,8 2. 7 2. 9 2. 9 2. 9 Balance at Federal Reserve 10.5 4 .2 5 .4 13 . 2 1.7 1.6 1.6 10.8 11.5 5 .8 4 .2 5 .4 6 .2 5 .8 8 .1 8.5 8.1 8.5 1.7 1.6 1.5 11.5 11.2 10.8 4 .2 3 .8 5 .5 OCT. NOV. DEC. 8.3 8.2 9.2 1.6 1.8 1.6 10.7 10.8 10.9 1994-JAN. FEB. MAR. 8.5 8.3 7.9 1.6 1.5 1.6 APR. MAY JUNE 8.4 8.0 8.3 JULY Foreign commercial banks Foreign official institutions 1993-MAR. 8.3 1.6 APR. MAY JUNE 7.8 8.3 8.2 JULY AUG. SEP. Week e n d i n g 1994-JULY 4 11 18 25 AUG. 1 8 15 22p 29p estimated preliminary IRA and Keogh Accounts Time and savings deposits at commercial banks Demand deposits at commercial banks Date e p Time and savings deposits due to foreign banks and official institutions n.i 2 8 2 5 3 Note balances at depository institutions Total cash balance At thrift institutions At money market funds Total