FEDERAL RESERVE statistical release .f?^r--

H. 6 ( 5 0 8 )

MONEY STOCK REVISIONS

This r data primarily deposits from 1 reported in the the level of M2 varying amounts $9.0 billion, growth rates of 1990 and from 3 of Ml and M3 we

elease incorporates further revisions to historical related to the reclassification of some brokered arge time to small time deposits in addition to those annual benchmark on February 13, 1992. As a result, from January 1990 through September 1991 was raised by , with the largest monthly revision totalling about Consequently, the fourth-quarter-to-fourth-quarter M2 were revised from 3.8 percent to 4.0 percent for .1 percent to 2.9 percent for 1991. The growth rates re little affected.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

isSSS&V

FEDERAL RESERVE statistical release These data are scheduled for release each Thursday at 4:30 p.m.

H.6 (508) Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES Billions of dollars

**-f*4lRE^V

MARCH 5, 1992

Date Ml] M22 M33 DEBT5

Seasonally adjusted

1990-FEB. 800.7 MAR. 803.7 APR. 807.3 MAY 806.2 JUNE 809.7 JULY 810.1 AUG. 816.2 SEP. 822.9 OCT. 822.3 NOV. 823.8 DEC. 826.1

1991-JAN. 826.2 FEB. 836.2 MAR. 842.3 APR. 842.7 MAY 850.9 JUNE 857.3 JULY 860.0 AUG. 866.5 SEP. 872.0 OCT. 880.9 NOV. 891.4 DEC. 898.1

1992-JAN. 910.4

3259 3271 3280 3283 3292 3300 3315.8 3331.0 3334 3333 3339

3344.0 3369.4 3386.9 3394.4 3405.6 3411.8 3407. 3410. 3413. 3420. 3434. 3442.

3452.1

4073. 4074. 4079. 4079. 4083. 4090. 4106. 4115. .4117. 4115.6 4114.6

4125.8 4160.2 4165. 4168. 4170. 4167. 4157. 4157. 4154. 4161. 4170.8 4175.2

4180.3

4901. 4909, 4921. 4905, 4925. 4928. 4939, 4964. 4962, 4960. 4966.

4982 5010 5007 4981 4961 4988.9 4994.7 4991.6 4983.8 4992.5 5009.9 5004.7

10225.4 10299.4 10360. 10411. 10478. 10541. 10606. 10658. 10696. 10750. 10791.

10821 10871 10905 10924 10974 11022 11060 11106.8 11154.5 11206 11257 11292

.1

.6

.6

.5

.5

.9

.1

5 5 4 p

Not seasonally adjusted 1990-FEB. 788.0

MAR. 795.9 APR. 817.6 MAY 796.9 JUNE 810.4 JULY 812.5 AUG. 814.2 SEP. 818.7 OCT. 817.6 NOV. 826.1 DEC. 844.1

1991-JAN. 832.7 FEB. 823.4 MAR. 835.0 APR. 853.0 MAY 841.7 JUNE 858.1 JULY 862.3 AUG. 864.5 SEP. 867.4 OCT. 875.5 NOV. 893.9 DEC. 917.3

1992-JAN. 918.1

3248. 3271. 3295. 3266. 3288. 3303. 3315. 3323.8 3330.4 3336. 3351.

.4

.0

.6

.5

.5

.7

.6

3351.3 3358.3 3388.4 3410. 3388. 3408. 3410. 3410. 3405. 3415. 3437. 3456.

.4

.7

.0

.5

.1

.7

.7

.6

.1

4063.6 4078.0 4091.7 4065.2 4080.8 4092.4 4109 4108 4109 4118 4124

4129.7 4150.8 4171. 4182. 4156. 4165. 4158. 4161. 4147. 4152. 4173.

3460.1

4185.9

4185.4

4896.1 4914.6 4931.5 4889.8 4914.4 4920 4934 4956 4954 4968 4986

5000.9 5005.8 5014.7 4994 4946 4976 4986 4986 4974 4982 5017 5025

10196.1 10261.0 10318.8 10365.2 10430.0 10492.5 10554.8 10610.9 10659.8 10722.6 10778.2

10809. 10842. 10868. 10884. 10928. 10973. 11009. 11056. 11109.8 11172.7 11232.6 11280.8

Footnotes appear on the following page, pindicates preliminary data.

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H.6 (508) Table 2

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

Ml M2 M3 Debt1

3 Months from OCT. 1991 TO JAN. 1992

6 Months from JULY 1991 to JAN. 1992

12 Months from JAN. 1991 TO JAN. 1992

13.4

11.7

10.2

3.7

2.6

3.2

1.8

1.1

1.3

4.9

4.9

4.6

Thirteen weeks ending FEBRUARY 24, from thirteen weeks ending:

1992

NOV. 25, 1991 (13 weeks previous) AUG. 26, 1991 (26 weeks previous) FEB. 25, 1991 (52 weeks previous)

13.8

11.6

9.9

4.0

2.7

3.2

2.2

1.1

1.3

Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, September 1991 to December 1991, June 1991 to December 1991, and December 1990 to December 1991, respectively.

Footnotes to Table 1

Consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions * (2) travelers checks of nonbank issuersj (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 (NON) 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 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, savings deposits (including money market deposit accounts), small-denomination time deposits (time depositsincluding retail RPsin 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 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 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 quarter-end basis and include discontinuities.

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H.6 (508) Table 3 MONEY STOCK MEASURES Billions of dollars

Seasonally adjus ;ted Ml M2 M3

13-week 4-week week 13-week 4-week week 13-week 4-week week Period en ding

2

average average average average average average average average average

1991-DEC.

ding

2 881.9 892.4 895.0 3423.3 3436.2 3440.2 4162.8 4172.1 4174.3 9 883.9 894.3 896.6 3425.3 3439.1 3442.2 4164.1 4174.0 4175.1 16 885.9 895.8 897.6 3427.8 3442.1 3447.5 4166.0 4177.2 4184.5 23 888.0 897.0 898.9 3430.2 3443.5 3444.2 4168.0 4177.7 4177.0 30 890.0 898.2 899.5 3432.5 3443.5 3439.9 4169.3 4175.7 4166.1

1992-JAN. 6 891.9 899.7 902.9 3434.6 3443.5 3442.4 4169.4 4171.5 4158.2 13 894.1 902.0 906.6 3436.7 3443.4 3447.1 4170.3 4169.4 4176.2 20 896.3 904.8 910.2 3439.0 3445.5 3452.7 4171.8 4170.7 4182.3 27 898.7 908.7 915.2 3441.7 3449.9 3457.2 4174.1 4177.4 4192.7

FEB. 3 901.4 913.3 921.2 3445.0 3456.0 3466.8 4176.7 4186.9 4196.3 10 904.3 918. F 927.2 3448.6 3463.5 3477.4 4179.3 4193.2 4201.6 17p 907.4 923. 931.5 3452.1 3470.8 3481.8 4183.0 4202.5 4219.5 24p 910.5 928.4 933.8 3455.4 3476.6 3480.3 4184.6 4203.2 4195.4

Not seasonally adjusted Ml M2 M3

13-week 4-week week 13-week 4-week week 13-week 4-week week Period en ding

2

average average average average average average average average average

1991-DEC.

ding

2 879.9 894.6 904.3 3420.7 3438.8 3442.4 4158.3 4174.7 4178.5 9 882.3 899.7 915.4 3423.4 3444.8 3463.2 4160.1 4179.0 4193.9

16 885.3 904.3 914.9 3426.9 3449.8 3464.5 4162.7 4184.3 4198.0 23 890.1 913.0 917.2 3431.6 3455.3 3451.0 4166.8 4187.5 4179.7 30 895.1 917.0 920.6 3436.5 3456.7 3447.9 4170.5 4185.6 4170.6

1992-JAN. 6 899.7 924.0 943.3 3440.5 3459.9 3476.1 4172.0 4181.9 4179.3 13 903.4 927.2 927.6 3444.1 3461.7 3471.6 4174.7 4182.4 4199.8 20 906.4 926.6 914.9 3447.3 3464.0 3460.4 4177.5 4184.7 4189.0 27 909.1 921.2 899.0 3450.6 3462.4 3441.3 4180.4 4185.9 4175.5

FEB. 3 910.8 912.6 908.7 3452.7 3456.9 3454.1 4182.4 4187.6 4186.2 10 912.8 911.0 921.2 3455.3 3457.2 3473.0 4184.3 4188.2 4201.9 17p 914.5 911.9 918.6 3457.3 3459.6 3469.9 4186.7 4193.0 4208.3 24p 916.6 914.8 910.6 3459.5 3463.8 3458.3 4187.2 4192.5 4173.5

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

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H.6 (508) Table 4 COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted

Currency * Travelers checks2

Demand deposits3

Other checkable deposits Nontransactions components

Date Currency * Travelers checks2

Demand deposits3

At commercia banks4

At 1 thrift

institutions5 Total In M26 In M3 only7

1990-SEP. 241.9 8.3 280.1 205.6 87.0 292.5 2508.1 784.5 OCT. NOV. DEC.

244.2 245.4 246.8

8.4 8.3 8.3

278.1 277.4 277.1

205.9 207.0 208.7

85.7 85.7 85.2

291.6 292.6 293.9

2512.2 2509.9 2512.9

782.6 781.9 775.6

1991-JAN. FEB. MAR.

251.5 254.6 256.0

8.3 8.2 8.1

271.8 275.9 276.9

209.5 211.6 214.6

85.2 85.8 86.6

294.6 297.5 301.3

2517.8 2533.3 2544.7

781.8 790.8 779.0

APR. MAY JUNE

256.3 256.6 257.6

7.8 8.0 7.9

276.1 278.4 280.1

215.4 220.2 223.5

87.1 87.6 88.2

302.5 307.8 311.6

2551.6 2554.7 2554.5

774.0 764.9 755.9

JULY AUG. SEP.

259.3 261.3 262.9

7.8 7.8 7.8

279.3 280.1 280.6

225.8 229.5 232.4

87.8 87.8 88.2

313.7 317.3 320.6

2547.4 2544.0 2541.5

749.9 747.1 741.2

OCT. NOV. DEC.

264.8 266.0 267.3

7.9 8.0 8.2

283.8 287.6 289.5

235.4 239.2 241.6

89.1 90.5 91.6

324.5 329.7 333.2

2539.4 2543.0 2544.2

741.5 736.4 732.9

1992-JAN. 269.4 8.3 293.9 245.8 93.1 338.9 2541.7 728.1

Week ending 1991-DEC. 30 267.9 8.3 289.4 240.3 93.6 333.9 2540.4 726.2 1992-JAN. 6

13 20 27

268.4 268.9 269.3 269.9

8.3 8.3 8.3 8.3

290.3 291.9 294.0 296.0

243.6 245.7 246.6 246.7

92.3 91.8 92.1 94.4

335.9 337.5 338.7 341.1

2539.5 2540.6 2542.4 2542.0

715.8 729.0 729.7 735.4

FEB. 3 10 17p 24p

270.4 271.4 272.0 271.6

8.3 8.3 e 8.3 e 8.3 e

298.7 301.1 305.6 308.2

248.4 251.2 250.2 251.1

95.5 95.2 95.4 94.6

343.9 346.4 345.6 345.7

2545.5 2550.2 2550.2 2546.5

729.5 724.2 737.7 715.1

1. Currency outside U.S. Treasury> Federal Reserve Banks and the vaults of depository institutions. 2. 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 NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum of overniqht 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 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. eindicates estimated data, pindicates 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

Date

Savings deposits1

Total

Small-denomination time deposits2

At At commercial thrift

banks institutions

At _ At commercial thrift

banks institutions Total

General purpose and broker/dealer

money market funds

Institution-only money market funds

Large-denomination time deposits3

At commercial

banks4 At

thrift institutions Total

1 9 9 0 - S E P . 5 7 2 . 4 3 4 6 . 3 9 1 8 . 7 5 8 6 . 1 5 8 0 . 9 1 1 6 6 . 9 3 4 1 . 8

OCT. NOV. DEC.

5 7 5 . 3 5 7 8 . 2 5 8 1 . 9

3 4 3 . 7 3 4 1 . 9 3 3 8 . 8

9 1 9 . 0 9 2 0 . 1 9 2 0 . 7

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

5 7 1 . 9 5 6 9 . 7 5 6 2 . 3

1 1 6 7 . 0 1 1 6 7 . 3 1 1 6 8 . 7

3 4 4 . 6 3 4 5 . 2 3 4 8 . 9

1 9 9 1 - J A N . FEB. MAR.

5 8 3 . 9 5 9 0 . 5 5 9 7 . 1

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

9 2 2 . 3 9 3 1 . 0 9 4 1 . 7

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

5 5 8 . 9 5 5 3 . 3 5 4 6 . 4

1 1 6 9 . 3 1 1 6 9 . 5 1 1 6 5 . 9

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

APR. MAY JUNE

6 0 2 . 8 6 0 9 . 6 6 1 7 . 3

3 5 0 . 2 3 5 6 . 6 3 5 9 . 6

9 5 3 . 0 9 6 6 . 1 9 7 6 . 8

6 1 7 . 2 6 1 5 . 9 6 1 7 . 8

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

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

3 6 6 . 6 3 6 7 . 8 3 6 8 . 8

JULY AUG. SEP.

6 2 3 . 2 6 3 0 . 4 6 3 6 . 7

3 6 3 . 0 3 6 3 . 7 3 6 5 . 7

9 8 6 . 1 9 9 4 . 1

1 0 0 2 . 4

6 1 7 . 5 6 2 1 . 2 6 1 9 . 5

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

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

3 6 7 . 9 3 6 3 . 5 3 6 1 . 9

OCT. NOV. DEC.

6 4 5 . 7 6 5 5 . 4 6 6 4 . 9

3 6 9 . 3 3 7 3 . 3 3 7 7 . 7

1 0 1 5 . 0 1 0 2 8 . 7 1 0 4 2 . 5

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

4 8 1 . 6 4 7 4 . 1 4 6 6 . 6

1 0 9 5 . 6 1 0 8 0 . 5 1 0 6 5 . 1

3 6 1 . 7 3 6 1 . 4 3 6 1 . 5

1 9 9 2 - J A N . 6 7 5 . 9 3 8 5 . 3 1 0 6 1 . 2 5 8 7 . 6 4 5 7 . 4 1 0 4 5 . 0 3 6 0 . 7

Heek e n d i n g

1991 -DEC. 30 6 6 7 . 7 3 7 9 . 9 1 0 4 7 . 6 5 9 5 . 9 4 6 4 . 2 1 0 6 0 . 2 3 5 9 . 8

1 9 9 2 - J A N . 6 13 20 27

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

3 8 1 . 4 3 8 3 . 3 3 8 5 . 3 3 8 7 . 9

1 0 5 0 . 5 1 0 5 7 . 4 1 0 6 2 . 3 1 0 6 7 . 4

5 9 3 . 2 5 9 0 . 3 5 8 7 . 7 5 8 3 . 8

4 6 3 . 0 4 5 9 . 7 4 5 6 . 5 4 5 4 . 2

1 0 5 6 . 2 1 0 5 0 . 0 1 0 4 4 . 2 1 0 3 7 . 9

3 5 6 . 1 3 5 8 . 7 3 6 0 . 5 3 6 4 . 0

FEB. 3 10 17p 24p

6 8 2 . 3 6 8 7 . 3 6 9 0 . 3 6 9 0 . 3

3 9 0 . 6 3 9 3 . 2 3 9 5 . 6 3 9 6 . 7

1 0 7 2 . 9 1 0 8 0 . 5 1 0 8 5 . 9 1 0 8 7 . 0

5 8 0 . 8 5 7 7 . 9 5 7 5 . 0 5 7 2 . 7

4 5 1 . 4 4 4 7 . 9 4 4 5 . 5 4 4 3 . 7

1 0 3 2 . 2 1 0 2 5 . 8 1 0 2 0 . 6 1 0 1 6 . 5

3 6 5 . 2 3 6 4 . 2 3 6 4 . 6 3 6 4 . 3

124.1 381.3 130.1 511.5

127.8 128.8 133.7

379.1 378.6 374.0

128.0 125.1 120.9

507 .1 503.8 494.9

138.3 145.5 148.5

379.1 385.1 382.1

117.5 114.5 110.8

496.6 499.6 492.8

152.9 155.2 155.3

379.6 379.2 377.9

108.1 104.3 100.4

487.7 483.5 478.3

155.4 158.6 162.6

373.8 372.0 368.1

97.4 93.5 90.4

471.2 465.5 458.5

168.2 173.6 179.1

362.6 357.1 354.0

87.4 85 .1 83 .1

450.0 442.2 437.0

182.4

176.5

165, 182, 185. 188,

191.8 189.5 194.2 178.0

345.7

350.0

348. 345. 345, 345.

343. 341, 342. 340.

81.4

82.2

82.3 81.8 81.2 81.0

80, 79. 79, 78,

427.1

432.2

430. 427. 426. 426.

423. 420. 421. 419.

3. 4.

P~

Savings deposits include money market deposit accounts. Small-denomination time deposits includinq retail RPsare 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 $100,000 or more, excluding Large-denomination time deposits at commercial banks less those held by money market mutual official institutions,

-indicates preliminary data. funds, depository institutions, and foreign banks and

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.6 (508) Table ^-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, seasonally adjusted

Date Savings bonds

Non-M3 Components of L Short-term Treasury securities1

Bankers acceptances2

Commercial paper3

Debt components4

Federal debt

Non-Federal debt

1990-SEP. OCT. NOV. DEC.

123.7 124.5 125.2 126.0

333.8 330, 330. 333,

32.6 32.9 33.8 34.0

358.8 357.7 355.2 359.3

2433.4 2441.5 2470.9 2493.6

8225.2 8255.0 8279.8 8297.3

1991-JAN. FEB. MAR.

APR. MAY JUNE

JULY AUG. SEP.

OCT. NOV. DEC. p

126.9 127.9 129.0

130.1 131.3 132.4

133. 134. 135. 136. 137. 137.

331.5 331.1 326.8 310, 302, 327, 336, 336, 330, 333, 339. 333.

35. 34, 32, 30, 29, 28. 28.1 27.2 25.8 25.3 24.5 23.1

363.4 357.1 353.8 341.6 327.9 333.0 339.8 336.3 337.7 336, 337. 335.

2509.1 2537.5 2551.5

2547.4 2572.5 2606.7 2633.2 2665.9 2693.5 2724.0 2749.5 2766.9

8312.0 8334.1 8354.1

8377, 8402, 8416.

8426. 8441, 8460. 8482. 8508. 8525,

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.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.6 (508) Table 5

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

Currency1 Travelers checks2

Demand deposits3

Other checkable deposits Nontransactions

components

Overnight RPs* Date Currency1

Travelers checks2

Demand deposits3

At commercial

banks5 At

thrift institutions5 Total In M26

In M3 only7

Overnight RPs*

Overnight Eurodollars9

1990-SEP. 240.9 8.8 278.1 203.9 86.9 290.8 2505.1 785.1 64.6 16.6

OCT. NOV. DEC.

242.7 245.7 249.5

8.4 8.0 7.8

278.2 280.6 289.9

202.9 206.0 211.5

85.3 85.8 85.4

288.3 291.8 296.9

2512.8 2510.8 2507.8

778.8 781.6 772.8

66.0 60.5 55.0

17.7 17.4 19.7

1991-JAN. FEB. MAR.

249.8 252.6 255.6

7.8 7.8 7.8

277.4 268.0 270.1

213.6 211.5 215.8

84.2 83.4 85.8

297.7 294.9 301.6

2518.6 2535.0 2553.3

778.4 792.5 783.3

52.0 51.4 49.0

19.9 19.0 20.2

APR. MAY JUNE

256.0 257.4 259.1

7.5 7.8 8.1

277.7 271.7 279.9

222.6 217.2 222.0

89.2 87.7 89.0

311.8 304.9 311.0

2557.4 2547.0 2549.9

772.2 768.1 757.2

50.0 51.3 52.3

19.6 17.1 15.6

JULY AUG. SEP.

260.8 262.0 261.7

8.5 8.6 8.3

280.9 278.8 278.6

223.1 226.9 230.6

89.0 88.3 88.2

312.1 315.1 318.7

2548.2 2545.7 2538.3

748.0 751.0 741.2

51.1 52.8 51.8

13.8 14.5 14.6

OCT. NOV. DEC.

263.1 266.3 270.0

8.0 7.7 7.7

283.7 291.1 303.0

232.0 238.1 244.8

88.6 90.7 91.7

320.6 328.8 336.5

2540.2 2543.7 2538.9

737.0 735.4 729.7

53.2 53.8 53.1

16.3 19.5 22.6

1992-JAN. 267.8 7.9 300.0 250.7 91.7 342.4 2542.0 725.3 55.9 22.1

Week ending

1991-DEC. 30 270.4 7.8 307.8 244.2 90.5 334.7 2527.3 722.7 50.8 24.1

1992-JAN. 6 13 20 27

269.7 268.5 268.0 266.5

7.8 7.8 7.9 7.9

315.3 303.9 296.6 290.3

255.5 254.3 251.3 245.4

94.9 93.1 91.1 89.0

350.4 347.3 342.4 334.4

2532.9 2544.1 2545.5 2542.3

703.2 728.2 728.6 734.3

54.3 54.5 56.6 56.8

25.3 22.1 21.4 20.4

FEB. 3 10 17p 24p

267.1 270.4 270.5 268.8

7.9 7.9 e 7.9 e 8.0 e

295.0 296.0 298.3 294.1

247.3 253.1 249.7 248.9

91.4 93.8 92.2 90.8

338.7 346.9 341.9 339.7

2545.4 2551.7 2551.3 2547.7

732.1 728.9 738.4 715.2

58.5 59.2 58.6 59.5

21.3 19.9 19.7 18.4

1. Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions. 2. Outstanding amount of U.S. dollaidenominated 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 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 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). eindicates estimated data, pindicates preliminary data.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.6 (508) Table 5-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted

c

Savings deposits 1 Small-denomination time deposits2

General purpose and broker/dealer

money market funds

Institution-only money

market funds

Large-denomination time

At At commercial thrift banks* institutions

deposits3

Date c ommercia

banks

At ,1 thrift

institutions Total

At commercial

banks

At thrift

institutions Total

General purpose and broker/dealer

money market funds

Institution-only money

market funds

Large-denomination time

At At commercial thrift banks* institutions Total

1990-SEP. 571.6 345.9 917.5 585.5 580.3 1165.9 340.7 120.2 383.0 130.7 513.7

OCT. NOV. DEC.

574.5 578.3 580.0

343.3 342.0 337.7

917.8 920.2 917.7

596.0 598.0 606.3

572.7 570.1 562.2

1168.7 1168.1 1168.5

342.6 344.5 346.8

124.2 128.4 134.4

379.5 378.8 373.0

128.1 125.2 120.6

507.6 504.0 493.5

1991-JAN. FEB. MAR.

581.1 587.4 598.4

336.8 338.7 345.4

917.9 926.1 943.7

612.1 617.8 619.9

560.5 554.8 546.7

1172.6 1172.5 1166.6

356.2 365.9 373.8

142.5 152.1 153.1

376.6 383.9 382.6

116.7 114.1 110.9

493.3 498.0 493.5

APR. MAY JUNE

604.9 609.3 620.0

351.4 356.4 361.1

956.4 965.8 981.1

616.7 614.2 615.7

541.7 533.5 521.0

1158.4 1147.7 1136.7

373.0 365.1 364.2

153.9 155.6 152.3

378.4 380.4 379.1

107.7 104.6 100.7

486.1 485.0 479.9

JULY AUG. SEP.

626.1 631.9 635.8

364.7 364.6 365.1

990.9 996.5

1001.0

617.3 620.8 619.1

511.9 499.3 491.2

1129.2 1120.0 1110.3

363.3 361.8 360.7

151.5 156.2 157.4

373.5 373.8 369.7

97.3 93.9 90.8

470.8 467.8 460.5

OCT. NOV. DEC.

644.6 655.3 662.3

368.7 373.2 376.3

1013.3 1028.5 1038.6

615.2 606.9 598.7

482.5 474.5 466.7

1097.6 1081.4 1065.4

359.8 360.6 359.1

163.4 172.7 180.3

362.8 356.9 352.8

87.4 85.1 82.8

450.2 441.9 435.5

1992-JAN. 672.3 383.2 1055.5 589.5 458.8 1048.2 360.2 188.1 343.3 80.8 424.1

Neek ending

1991-DEC. 30 660.5 375.8 1036.4 596.3 464.6 1060.9 355.1 178.0 348.6 81.9 430.5

1992-JAN. 6 13 20 27

667.0 673.2 673.6 672.8

380.2 382.9 383.4 384.1

1047.2 1056.1 1057.0 1056.9

595.0 592.4 589.6 585.3

464.4 461.3 458.0 455.4

1059.4 1053.7 1047.5 1040.7

346.7 357.7 362.9 367.5

162.1 189.0 193.8 197.2

346.2 343.5 342.9 342.7

81.8 81.4 80.6 80.3

428.0 424.9 423.6 423.0

FEB. 3 10 17p 24p

676.1 683.8 686.9 686.3

387.0 391.2 393.7 394.4

1063.1 1075.0 1080.5 1080.6

582.5 579.9 576.7 573.8

452.7 449.4 446.8 444.6

1035.2 1029.3 1023.5 1018.3

367.4 368.3 369.0 370.8

199.3 198.8 203.1 185.8

340.4 339.8 341.1 340.2

79.8 79.4 78.9 78.3

420.1 419.2 420.0 418.4

1. 2. 3. 4.

P~

Savings deposits include money market deposit accounts. Small-denomination time deposits including retail RPsare 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 $100,000 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, and foreign banks and official institutions,

-indicates preliminary data.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.6 (508) Table 5-continued COMPONENTS OF MONEY STOCK, LIQUID ASSETS, AND DEBT Billions of dollars, not seasonally adjusted

Term RPs1

Term Eurodollars2

Non-M3 Components of L Debt components6

Date

At commercial

banks

At thrift

institutions Total Term

Eurodollars2 Savings bonds

Short-term Treasury securities3

Bankers ' acceptances*

Commercial paper5

Federal debt

Non-Federal debt

1990-SEP. 53.0 46.2 99.1 67.7 123.5 334.6 32.3 356.8 2411.8 8199.2

OCT. NOV. DEC.

51.3 53.1 48.1

44.3 42.5 41.5

95.6 95.6 89.6

67.8 67.5 68.7

124.2 125.0 125.8

334.8 339.9 345.4

32.8 34.6 35.7

353.0 350.3 355.1

2424.4 2461.5 2491.3

8235.4 8261.2 8286.9

1991-JAN. FEB. MAR.

48.4 48.5 48.1

40.3 38.2 35.4

88.7 86.7 83.5

69.2 69.8 68.2

126.8 127.9 129.1

340.7 332.6 327.8

36.1 34.3 31.5

367.7 360.3 354.7

2510.8 2540.7 2553.4

8298.5 8301.3 8315.2

APR. MAY JUNE

49.1 48.3 49.1

33.1 32.1 29.3

82.2 80.4 78.4

65.2 62.3 61.6

130.4 131.6 132.7

306.3 295.1 316.4

30.1 28.7 27.8

344.5 334.0 334.9

2544.5 2560.6 2586.4

8339.9 8367.5 8386.8

JULY AUG. SEP.

49.6 48.9 48.1

29.2 29.4 28.6

78.8 78.4 76.7

62.7 63.6 61.5

133.6 134.3 135.0

327.3 330.4 331.5

27.9 27.2 25.5

338.8 333.1 335.8

2609.3 2642.9 2673.1

8400.6 8413.9 8436.7

OCT. NOV. DEC.

48.9 48.0 47.1

26.6 25.6 23.8

75.5 73.7 70.9

63.0 62.3 58.5

135.9 136.8 137.7 p

337.3 349.0 346.6 p

25.1 25.2 24.4 p

331.5 333.8 331.2 p

2707.6 2740.7 2765.0 p

8465.1 8491.9 8515.9 p

1992-JAN. 48.0 22.8 70.8 57.4

Week ending

1991-DEC. 30 47.9 21.7 69.6 60.1

1992-JAN. 6 13 20 27

47.4 48.8 48.0 47.7

22.1 23.1 23.0 23.3

69.4 71.9 71.0 71.0

57.9 57.5 55.9 57.9

FEB. 3 10 17p 24p

47.8 48.1 49.6 48.1

22.3 23.3 23.3 23.5

70.2 71.4 72.9 71.6

58.4 58.4 57.7 56.7

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,

-indicates preliminary data.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

H.6 (508) Table 6 MEMORANDUM ITEMS B i l l i o n s of dollars> not seasonally adjusted 10

c

Demand deposits at banks due to

Time and savings deposits due to foreign banks and official institutions

U.S. government depos ;its IRA and Keogh Account :s

Date c Foreign commercial banks

Foreign official

institutions

Time and savings deposits due to foreign banks and official institutions

Demand deposits at commercial

banks

Balance at

Federal Reserve

Note balances at depository institutions

Total cash balance

Time and savings

deposits at commercial

banks

At commercia

banks

At 1 . thrift

institutions

At money market funds

Total

1990-SEP. 9.7 2.0 3.5 5.2_ 6.4 25.9 37.5 1.2 124.4 134.1 39.4 297.9

OCT. NOV. DEC.

9.3 9.2 9.0

1.6 1.5 1.5

4.0 3.9 4.1

' 3.5 3.8 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

133.9 133.8 133.4

40.5 41.8 43.3

301.2 304.2 307.0

1991-JAN. FEB. MAR.

9.3 8.2 8.0

1.6 1.6 1.6

4.5 5.1 5.7

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

133.5 134.0 134.5

43.5 43.5 44.0

309.1 311.1 313.8

APR. MAY JUNE

8.5 8.2 7.6

1.5 1.5 1.5

6.0 6.2 6.3

5.4 3.6 5.0

4.7 5.6 6.3

15.0 16.2 18.6

25.1 25.4 29.9

1.3 1.4 1.5

137.6 138.9 140.3

135.2 135.5 135.4

44.3 44.9 43.9

317.1 319.3 319.6

JULY AUG. SEP.

8.0 7.9 7.8

1.5 1.5 1.5

6.3 6.5 6.6

3.7 3.6 5.2

6.6 5.8 7.8

17.1 13.5 21.7

27.3 22.9 34.7

1.6 1.5 1.5

141.8 143.1 144.4

134.6 133.2 131.6

42.2 41.7 41.3

e e

318.5 318.0 e 317.3 e

OCT. NOV. DEC.

7.7 7.9 8.1

1.5 1.5 1.7

6.7 6.7 6.6

3.6 4.4 4.8

5.7 6.0 7.4

25.0 24.2 20.5

34.4 34.6 32.8

1.5 1.6 1.5

145.9 147.0 147.7

130.7 129.8 129.0

e e e

41.0 41.1 41.3

e e e

317.6 e 317.9 e 318.1 e

1992-JAN. 8.3 1.7 6.6 5.2 7.4 27.9 40.5 1.8 148.3 128.7 e 41.5 e 318.5 e

Week ending

1991-DEC. 30 8.3 1.9 6.6 4.1 10.8 33.5 48.3 1.5

1992-JAN. 6 13 20 27

8.5 8.0 8.3 8.5

2.3 1.5 1.6 1.7

6.6 6.6 6.6 6.6

6.2 4.0 6.1 5.2

9.4 5.5 5.9 8.1

27.3 20.5 25.2 34.5

42.9 30.1 37.2 47.8

1.5 1.9 1.9 1.9

FEB. 3 10 17p 24p

7.9 7.6 7.2 7.9

1.6 1.8 1.4 1.5

6.6 6.6 6.6 6.6

5.4 3.6 4.1 4.3

9.2 6.9 5.9 5.3

35.3 23.5 20.7 16.8

49.9 33.9 30.7 26.5

1.9 1.9 1.9 2.0

eindicates estimated data, pindicates preliminary data.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis