h6_19860327.pdf

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FEDERAL RESERVE statistical release These data are scheduled for release each Thursday at 4:30 p.m. y$SB$F''

H.6 (508) Table 1

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

Not seasonafly adjusted

HAECH 27, 1986

Date

M1

Sum of currency, travelers checks,

demand deposits and other checkable deposits1

M2 M1 plus overnight RPs

and Eurodollars, MMMF balances (gen. pur. and broker/dealer), MMOAs,

and savings and small time deposits2

M3 M2 plus

large time deposits, term RPs, term Eurodollars

and institution-only MMMF balances3

L

M3 plus other liquid assets4

Debt

Debt of domestic nonfinancial sectors*

1 9 8 5 F E B , H A B . A P R . HAY JUNE J U L Y AUG. S E P ' i . O C T . NOV. D E C .

1 9 8 6 J A N . F E B .

5 6 9 . 3 5 7 2 . 2 5 7 5 . 7 5 6 2 . 5 5 9 0 . 9 5 9 6 . 2 6 0 4 . 8 6 1 1 . 5 6 1 4 . 1 6 2 0 . 0 6 2 6 . 5

6 2 7 . 1 6 3 0 . 9

2 4 2 1 . 8 2 4 2 9 . 4 2 4 3 4 . 4 2 4 5 1 . 9 2 4 7 9 . 0 2 4 9 6 . 1 2 5 1 5 . 4 2 5 2 9 . 5 2 5 3 8 . 3 2 5 5 0 . 7 2 5 6 5 . 5

2 5 6 8 . 4 2 5 7 6 . 1

Seasonally adjusted

3 0 3 3 . 6 3 0 4 6 . 6 3 0 5 2 . 0 3 0 6 9 . 9 3 0 9 6 . 0 3 1 1 3 . 3 3 1 3 1 . 4 3 1 5 1 . 5 3 1 6 6 . 1 3 1 8 1 . 6 3 2 0 0 . 2

3 2 2 2 . 1 3 2 3 8 . 6

3 5 8 8 . 8 3 6 1 2 . 7 3 6 1 8 . 5 3 6 3 6 . 5 3 6 6 4 . 7 3 6 8 3 . 3 3 7 1 0 . 8 3 7 3 9 . 8 3 7 6 1 . 6 3 8 0 0 . 0 3 8 3 5 . 3

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

6 9 0 5 . 7

1985FEB. HAH. APE. HAT JUNE JULY AUG. SEPT. OCT. NOV. DEC.

198bJAN. FEB.

5 5 8 . 7 5 * 5 . 0 5 8 1 . 7 5 7 6 . 5 5 9 2 . 7 5 9 9 . 6 6 0 2 . 0 6 0 9 . 1 6 1 2 . 1 6 2 1 . 6 6 3 9 . 8

6 3 3 . 4 6 1 9 . 1

2 4 1 5 . 3 2 4 3 0 . 9 2 4 4 3 . 1 2 4 4 4 . 1 2 4 8 0 . 7 2 5 0 1 . 0 2 5 1 0 . 9 2 5 2 1 . 0 2 5 3 3 . 7 2 5 4 9 . 0 2 5 7 3 . 6

2 5 7 7 . 2 25t9.4

3 0 2 6 . 4 3 0 4 6 . 9 3 0 5 8 . 1 3 0 6 3 . 9 3 0 9 8 . 0 3 1 1 0 . 8 3 1 2 7 . 3 3 1 4 5 . 0 3 1 6 3 . 1 3 1 8 5 . 1 3 2 1 2 . 9

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

3 5 8 1 . 9 3 6 1 6 . 1 3 6 2 6 . 1 3 6 2 4 . 6 3 6 6 4 . 9 3 6 8 3 . 2 3 7 0 9 . 5 3 7 3 6 . 1 3 7 6 0 . 0 3 8 0 2 . 3 3 8 4 0 . 0

6 0 5 4 . 4 6 1 0 3 . 8 6 1 6 6 . 0 6 2 3 1 . 6 6 2 9 9 . 0 6 3 6 9 . 6 6 4 4 0 . 8 6 5 0 9 . 3 6 5 7 6 . 0 6 6 6 5 . 7 6 7 9 5 . 4

6 6 9 8 . 5

For period ended

1986-FEB. 3 10 17 24

HAH. 3 10 P 17 P

M1 Seasonally adjusted

13-week average

6 2 4 . 9 6 2 6 . 1 6 2 7 . 0 6 2 7 . 8

6 2 8 . 3 6 2 9 . 4 6 3 0 . 4

4-week average

6 2 6 . 4 6 2 7 . 7 6 2 8 . 5 6 3 0 . 2

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

week average

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

6 3 1 . 9 6 3 7 . 6 6 3 8 . 4

Not seasonally adjusted 13-week average

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

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

4-week average

6 2 6 . 1 6 2 1 . 3 6 1 6 . 2 6 1 6 . 6

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

week average

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

6 2 1 . 5 6 3 4 . 3 6 3 1 . 5

NOTE: SPECIAL CAUTION SHOULD BE TAK*N XV INTEEPBETINC MEEK-TO-MEEK CHANGES IN HONEY SUPPLY DATA, IflXCH ABE HIGHLY VOLATILE AND SUBJECT TO BEVISION. PINDICATES PBELIHINABY DATA. FOOTNOTES APPBAH ON THE FOLLOWING PAGE

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

H.6 (508) Table 2

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

3 MONTHS FROH MOV. 1985 TO FEB. 198b 6 MOUTHS PROS AUG. 1985 TO FEB. 198*

12 SOUTHS FROH FEB. 1985 TO FEB. 198b

TBIfiTEEM WEEKS ENDING HAS. 17, 1986 FROH THIRTEEN WEEKS ENDING:

DEC. 16, 1985 (13 iEEKS PREVIOUS) SEPT. 16, 1985 (26 WEEKS PREVIOUS) HAH. 18, 1985 (52 WEEKS PREVIOUS)

M1 7.0 8.6 10.8

8.2 9.7 11.3

M2 4.0 4.8 6.4

M3 7.2 6.8 6.8

l in -,.. -.- - . - . .

Debt1

16.9 16.1 14.7

--.,.-.--......ATttfii -1/ GROWTH HATES FOB DEBT AHS BASED ON PERIODS BEGINNING AND ENDING ONE MONTH EARLIER THAN FOB THE MONETARY AGGREGATES,

NAMELY, OCTOBER 1985 TO JANUARY 1986, JULY 1985 TO JANUARY 198b, AND JANUARY 1985 TO JANUARY 1986, RESPECTIVELY. FOOTNOTES TO TABLE 1 ~~~~

1/ CONSISTS OF (1) CURRENCY OUTSIDE THE TREASURY, FEDERAL RESERVE BANKS, AND THE VAULTS OF COMMERCIAL BANKS; (2) TRAVELERS CHECKS OF NONBANK ISSUERS; (3) DBitAND DEPOSITS AT ALL COflflERCIAL BANKS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S..GOVERNMENT, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IB THE PROCESS OF COLLECTION AND FEDERAL RESERVE FLOAT; AND (4) OTHER CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE OEOEE OF WITHDRAWAL (NOW) AND AUTOMATIC TRANSFBR S&dVIL* (ATS) ACCOUNTS AT DEPOSITORY INSTITUTIONS, CREDIT UNION SHARE DRAFT ACCOUNTS AND DEMAND DEPOSITS AT THRIFT INSTITUTIONS. THE CURRENCY AND DEMAND DEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AND DEMAND DEPOSITS, RESPECTIVELY, HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.

2/. CONSISTS OF M1 PLUS OVERNIGHT (AND CONTINUING CONTRACT) RPS ISSUED BY ALL COMMERCIAL BANKS AND OVERNIGHT EURODOLLARS ISSUED TO U.S. RESIDENTS BY FOREIGN BRANCHES OF U.S. BANKS WORLDWIDE, HMDAS, SAVINGS AND 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 IRA AND KEOGH BALANCES AT DEPOSITORY INSTITUTIONS AND HONEY HAWKBT FUNDS. ALSO EXCLUDES ALL BALANCES HELD BY U.S. COMMERCIAL BANKS, HONEY MARKET FOUDS (GENERAL PURPOSE AND BROJSLEB/DBkLEB), FOREIGN GOVERNMENTS AND COMMERCIAL BANKS, AND THE U.S. GOVERNMENT. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND Sl^lHHS DEPOSITS.

3/ CONSISTS OF H2 PLUS LARGE DEHOH1NATION TIME DEPOSITS (IN AMOUNTS OF $100,000 OR MORE) AND TERM RP LIABILITIES ISSUED BY COMMERCIAL BANKS AND THRIFT INSTITUTIONS, TERM EURODOLLARS HELD BY U.S. RESIDENTS AT FOREIGN BRANCHES OF U.S. BANKS NOBLDWIDE 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, HONEY MARKET FUNDS, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS.. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY INSTITUTION-ONLY MONEY MARKET MUTUAL FUUDS.

%/ CONSISTS OF M3 PLUS THE NONBANK PUBLIC HOLDINGS OF U.S. SAVINGS BONDS, SHORT-TERM TREASURY SECURITIES, COMMERCIAL PAPER AND BANKERS ACCEPTANCES, NET OF HONEY MARKET MUTUAL FUMD HOLDINGS OF THESE ASSETS.

5/ DEBT OF DOMESTIC NONFINANCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MARKET DEBT OF THE UNITED STATES GOVERNMENT, STATE AND LOCAL GOVERNMENTS AND PRIVATE NONFINANCIAL SECTORS. PRIVATE DEBT CONSISTS OF CORPORATE BONDS, MORTGAGES, CONSUHER CREDIT (INCLUDING BANK LOANS), OTHER BANK LOANS, COMMERCIAL PAPER, BANKERS ACCEPTANCES AND OTHER DEBT INSTRUMENTS. THE DATA ARE DERIVED FROM THE FEDERAL HESEHUE BOARD'S FLOW OF FUNDS ACCOUNTS. ALL DATA ON DEBT OF DOMESTIC NOMFINANCIAL SECTORS ARE PRESENTED IN MONTH-AVERAGE tfORH, DERIVED BY AVERAGING MONTH-END LtVELS OF ADJACENT MONTHS. THE DATA HAVE ALSO BEEN ADJUSTED TO REMOVE STATISTICAL DISCONTINUITIES THAT MAY ARISE IN THE UNDERLYING FLOW OF FUUDS STATISTICS. THE PRESENTATION OF DEBT DATA IN THIS UELEkSE DIFFERS, THEREFORE, FROM THE QUARTERLY FLOW OF FUNDS STATISTICS CONTAINED IN THE FEDERAL RESERVE RELEASES Z.7 AND Z.1. IN THOSE BELEkSES0 PUBLISHED LEVELS OF CREDIT MARKET DEBT ARE EEkSU&ED ON A OUARTER-END BASIS AND INCLUDE DISCONTINUITIES.


COMPONENTS OF THE MONEY STOCK nteiw of dollars, MMOMMy sdjusaod 3

8985

1 9 8 6

8EEK

1 9 8 6 F E B .

MAR.

Dots

^ i i l MAS.

APR. MAI JUNE

JULY AOG. S E P T .

O C T . NOV. D E C .

- J A N . F S B .

ENDING

3 10 17 2 4

3 10 P 17 P

Currency1

1 6 0 . 7 1 6 1 . 3

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

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

1 6 8 . 7 1 6 9 . 8 1 7 0 . 6

1 7 1 . 9 1 7 2 . 9

1 7 2 . 2 1 7 2 . 8 1 7 3 . 0 1 7 3 . 2

1 7 2 . 8 1 7 3 . 6 1 7 3 . 8

Tvavassfs ChOCfe*

5 . 3 5 . 4

5 . 5 5 . 5 5 . 7

5 . 8 5 . 9 5 . 9

5 . 9 5 . 9 5 . 9

5 . 9 6 . 0

/

Osmsnti deposits*

2 5 1 . 2 2 5 1 . 4

2 5 1 . 8 2 5 5 . 4 2 5 9 . 0

2 6 0 . 4 2 6 3 . 1 2 6 6 . 4

2 6 6 . 0 2 6 7 . 8 2 7 1 . 5

2 6 8 . 9 2 6 9 . 1

2 6 6 . 7 2 6 9 . 4 2 6 8 . 1 2 7 1 . 0

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

Othsc chsckabtt depot*. '

1 5 2 . 2 1 5 4 . 1

1 5 6 . 5 1 5 8 . 4 1 6 1 . 8

1 6 4 . 8 1 6 9 . 0 1 7 1 . 5

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

1 8 0 . 4 1 8 3 . 0

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

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

Nontransaetions OOlTipOrtQfltS

lnM2*

1 8 5 2 . 5 1 8 5 7 . 2

1 8 5 8 . 7 1 8 b 9 . 5 1 8 8 8 . 1

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

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

1 9 4 1 . 3 1 9 4 5 . 2

tnM3 only*

6 1 1 . 9 6 1 7 . 2

0 1 7 . 6 6 1 7 . 9 t > 1 9 . 1

6 1 7 . 2 6 1 6 . 1 6 2 2 . 1

6 2 7 . 8 6 3 1 . 0 6 3 4 . 7

6 5 3 . 6 t > 6 2 . 5

' Ssisctod noirtrsnsactions ttoms Saving* dapoait*7

1 it i commscclal I banks | 1 2 1 . 6 1 2 1 . 1

! 1 2 0 . 3 1 2 1 . 2 1 2 2 . 1

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

1 2 4 . 4 1 2 4 . 8 1 2 4 . 4

1 2 4 . 7 1 2 5 . 0

1 2 4 . 7 1 2 4 . 9 1 2 4 . 9 1 2 5 . 2

1 2 5 . 1 1 2 5 . 6 1 2 5 . 8

at thrift

Institution* 1 6 8 . 4 1 6 8 . 7

1 b 8 . 7 1t>9.o 17 1 . 5

1 7 3 . 8 1 7 6 . C 1 7 6 . 3

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

1 7 9 . J 1 7 9 9

total

2 8 9 . 9 2 8 9 . 7

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

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

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

3 0 4 . 0 3 0 4 . 9

Smati thus dopostts* St

cocnmoFcisJ bonks

3 8 5 . 0 3 8 5 . 2

3 8 7 . 1 3 8 7 - 7 3 8 7 . 6

3 8 6 . J 3 8 3 . 4 3 8 2 . 7

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

3 8 6 . 5 3 8 8 . 0

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

3 8 7 . 9 3 8 8 . 4 J 8 8 . 7

St thrift

instttuttons 5 0 0 . 2 4 9 9 . 7

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

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

4 9 3 . 7 4 9 3 . 7 4 9 6 . 2

4 9 9 . 6 5 0 3 . 1

total

8 8 5 . 2 6 6 5 . 0

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

8 8 6 . 0 8 8 0 . 9 8 7 t t . 3

8 7 5 . 7 8 7 6 . 0 8 8 0 . 3

8 6 6 . 1 89 1 . 1

~~ Largs ttms'^pooTts* St

commercial bonks1*

2 o 3 . 8 2 6 8 . 2

2.11.6 ^ 6 9 . 3 2 6 7 . 3

2 6 4 . 0 2 6 6 . 9 2 7 0 . 6

2 7 3 . 9 2 7 6 - 7 2 7 9 . 1

2 8 9 . 7 2 9 1 . 3

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

2 6 7 . 9 ! 2 6 6 . 6 2 8 7 . 5

St thrift

institutions 1 5 3 . 1 1 5 2 . 7

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

1 5 4 . 3 1 5 4 . 1 1 5 5 . 1

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

1 5 8 . 2 1 5 9 . 7

t

\

total

4 1 6 . 9 4 2 1 . 0

4 2 5 . 9 4 2 5 . 0 4 2 2 . 7

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

4 2 9 . 7 4 3 2 . 9 4 3 6 . 4

4 4 7 . 8 4 5 1 . 0

1/ CURRENCY OUTSIDE TUB U.S. TREASURY, FEDERAL RESERVE BANKS AMD VAULTS OF COMMERCIAL BANKS. EXCLUDES THE ESTIMATED AMOUNT OP VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES. 2/ OUTSTANDING AHOOHT OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS OP NONBANK ISSUERS. TRAVELERS CHECKS ISSUED BY DEPOSITOR* INSTITUTIONS ARE INCLUDED IH DEMAND DEPOSITS. 3/ DBSAND DEPOSITS AT COMMERCIAL BANKS AND FOREIGN RELATED INSTITUTIONS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U.S. GOVERN-BENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITERS IN THE PROCESS OF COLLECTION AND FEDERAL RESERVE FLOAT. EXCLUDES THE ESTIMATED AMOUNT OF DEMAND DEPOSITS HELD AT COMMERCIAL BANKS BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES. V CONSISTS OF NOV AND ATS BALANCES AT ALL DEPOSITORY INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES AND DEMAND DEPOSITS AT THRIFT INSTITUTIONS. OTHER CHECKABLE DEPOSITS SEASONALLY ADJUSTED EQUALS THE DlFHRtiUCE BBTURKH THE SEASONALLY ADJUSTED SUM OF DEMAND DEPOSITS PLUS OCD AND SEASONALLY ADJUSTED DEMAND DEPOSITS. INCLUDED ARE ALL CEILING FREE "SUPER NOUS," AUTHORIZED BY THE DEPOSITOBY INSTITUTIONS DEREGULATION COMMITTEE TO BE OFFERED BEGINNING JANUARY 5, 1983. 5/ SOM OF OVERNIGHT EPS AND OVERNIGHT EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER), GHDAS, AND SAVINGS AND SMALL TIME DEPOSITS, LESS THE CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS LIABILITIES. 6/ SUM OF LARGE TIME DEPOSITS, TERM RPS AND TERM EURODOLLARS OF U.S. RESIDENTS, HONEY MARKET FUND bALANCES (INSTITUTION-ONLY), LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT EPS AND EURODOLLARS HELD BY INSTITUTION-ONLY MONEY MARKET FUNDS. 7/ SAVINGS DEPOSITS EXCLUDE HMDAS. 8/ SHALL DENOMINATION TIME DEPOSITSINCLUDING RETAIL RPS ARE THOSE ISSUED IN AMOUNTS OF L&SS THAN $100,000. ALL INDIVIDUAL RETIREMENT ACCOUNTS (IRA) AND KEOGH ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS ARE SUBTRACTED FROM SMALL TIME DEPOSITS.

9/ LARGE DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF $100,000 OR MORE, EXCLUDING THOSE BOOKED AT INTERNATIONAL BANKING FACILITIES.

10/ LARGE DENOMINATION TIME DEPOSITS AT COMMERCIAL BANKS LESS THOSE HELD BY MONEY MARKET MUTUAL FUNDS, DEPOSITORY INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS-Digitized for FRASER

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

H.6 (603) Tabs* 4

OPPONENTS OF LIQUID ASSETS AND DEBT Billions of doilars, seasonally adjusted 4

Date

1 9 8 5 - J A N . FEB. flAfi.

*PR . a AY JUNE

JULY AUG. SEPT.

OCT. soy. DSC.

1 9 8 6 - J A N . P

Non-M3 components of L savings bonds

7 4 . 5 7 4 . 9 7 5 . J

7 5 . 7 7 b . 1 7 6 . 5

7 6 . 7 7 7 . 2 7 8 . 0

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

short-term treasury securities1

2 6 6 . 7 2 7 0 . 4 2 7 4 . 8

2 7 6 . 0 2 7 7 . 4 2 8 2 . 6

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

2 8 1 . 4 2 9 9 . 5 3 0 4 . 4

bankers acceptances2

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

4 5 . 9 4 4 . 5 4 2 . 8

4 2 . 2 4 2 . 2 4 2 . 5

4 3 . 9 4 3 . 1 4 1 . 1

commercial paper*

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

1 6 8 . 9 1 6 8 . 6 1 6 4 . 7

1 7 1 . 1 1 8 2 . 0 1 8 6 . 6

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

Deb components4 federal debt

1 3 8 4 . 9 1 3 9 9 . 5 1 * 0 9 . 6

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

1 4 7 9 . 9 1 4 9 7 . 0 1 5 0 6 . 8

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

1 6 0 8 . 5

1 non-federal debt

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

4 7 7 0 . 9 4 8 1 6 . 7

! 4 8 6 3 , 8

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

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

5 2 9 7 . 2

1/ CONSISTS OF U.S. TREASURY BILLS AMD COUPONS UlTd REfiAINING HATURITIES OF LESS THAN 12 flONTRS HELD BY OTHER THAM DEPOSITORY INSTITUTIONS, FEDERAL RESERVE BANKS, HONEY HARKET flUTUAL FUNDS AND FOREIGN ENTITIES. 2/ NET OF BANKERS ACCEPTANCES HELD BY ACCEPTING BANKS, FEDERAL RESERVE BANKS, FOREIGN OFFICIAL INSTITUTIONS, THE FEDERAL HOME LOAN BANK SYSTEH AND HONEY fiARKET SUTUAL FUHDS-1/ TOTAL CQSHBBCIAL PAPER LESS COflflERCIAL PAPER HELD BY HONEY HAR&ET MUTUAL FUNDS. 4/ DEBT DATA A2E ON A MONTHLY AVERAGE BASIS, DERIVED BY AVERAGING EMD-OF-flOMTfl LEVELS OF ADJACENT MONTHS, AND HAVE BEEN ADJUSTED TO REMOVE DISCONTINUITIES.


M.8 (508) Table 5

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

Date

1985-PBB. HAfi.

APB. HAT JURB

JULY AUG. SEPT.

OCT. ROT. DEC.

1 9 8 6 - J A N . FEB.

WEEK EROIRG:

1986 -FBB. 3 10 17 24

BAR. 3 10 P 17 P

Currancy1

158.5 159.8

161.1 163.1 165.1

166.8 167.7 167.6

168.4 170.7 173.1

170.5 170.6

169.2 171.4 171.2 169.9

170.2 172.8 172.5

Travelers checks1

5 . 0 5 . 1

5 . 2 5 . 4 5 . 9

6 . 5 6 . 6 6 . 2

5 . 9 5 . 6 5 . 5

5 . 5 5 . 6

<

Demand deposits1

2 4 4 . 6 2 4 5 . 9

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

2 6 1 . 8 2 6 0 . 4 2 6 5 . 0

2 6 5 . 6 2 6 9 . 0 2 8 1 . 3

2 7 5 . 1 2 6 2 . 0

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

2 6 3 . 6 2 6 8 . 6 2 6 8 . 0

Other checkable deposits

at commercial banks4

1 0 7 . 7 1 0 9 . 9

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

1 1 5 . 0 1 1 7 . 0 1 1 9 . 0

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

1 2 8 . 0 1 2 6 . 7

1 2 5 . 0 1 2 8 . 0 1 2 6 . 4 1 2 6 . 0

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

at thrift institutions8

4 2 . 8 4 4 . 4

4 6 . 7 4 6 . 5 4 8 . 4

4 9 . 5 5 0 . 3 5 1 . 3

5 2 . 5 5 3 . 8 5 4 . 4

5 4 . 3 5 4 . 2

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

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

total

1 5 0 . 6 1 5 4 . 2

1 6 0 . 8 1 5 7 . 0 1 6 2 . 2

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

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

1 8 2 . 3 1 8 0 . 9

1 7 8 . 6 1 8 3 . 1 1 8 0 . 4 1 7 9 . 6

1 8 2 . 0 1 8 7 . 2 1 8 5 . 3

Nontransactions components

In M2*

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

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

1 9 0 1 . 4 1 9 0 8 . 9 1 9 1 1 . 9

1 9 2 1 . 6 1 9 2 7 . 4 1 9 3 3 . 8

1 9 4 3 . 8 1 9 5 0 . 3

i

in M3 only7

6 1 1 . 1 6 1 6 . 0

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

6 0 9 . 8 6 1 6 . 4 6 2 4 . 0

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

6 5 2 . 6 6 6 1 . 2

Overnight RPs*

5 1 . 3 5 0 . 9

4 5 . 6 4 8 . 5 4 8 . 1

4 8 . 3 4 9 . 4 5 0 . 2

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

4 9 . 2 5 1 . 7

5 0 . 1 4 9 . 3 5 1 . 0 5 3 . 8

5 4 . 9 5 1 . 8 5 1 . 8

Overnight Eurodollars*

1 3 . 3 1 2 . 4

1 2 . 0 1 2 . 8 1 2 . 7

1 2 . 4 1 4 . 2 1 3 . 9

1 4 . 2 1 3 . 8 1 6 . 7

1 8 . 0 1 5 . 3

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

1 5 . 3 1 5 . 0 1 6 . 4

General purpose and broker/dealer money market

funds

1 7 5 . 1 1 7 7 . 6

1 7 6 . 2 1 7 2 . 2 1 7 5 . 4

1 7 5 . 8 1 7 6 . 8 1 7 6 . 7

1 7 7 . 0 1 7 6 . 8 1 7 6 . 5

1 7 7 . 7 1 8 0 . 9

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

1 8 2 . 1 1 8 3 . 9 1 8 5 . 4

1/ CURRENCY OUTSIDE THE U.S. TREASURY, FEDERAL RESERVE BARKS ARD TUB fAULTS OF COMMERCIAL BARKS. EXCLUDES THE ESTIHATED AHOURT OF YAULT CASH HELD BY THRIFT IHSTITUTIORS TO SERIICE THEIR OCD LIABILITIES.

2/ OUTSTANDING ABOURT OF U.S. DOLLAR-DBHOHIHATBD TRAVELERS CHECKS OF ROHBARK ISSUERS. TRAVELERS CHECKS ISSUED BY DEPOSITORY IRSTITUTIORS ARE IRCLUDED IR DEBAHD DEPOSITS.

3/ DEBAHD DEPOSITS AT COHHERCIAL BARKS OTHER THAR THOSE DUE TO DOHESTIC BARKS, THE U.S. GOVERRHBHT ARD FOBEIGR BARKS ARD OFFICIAL IRSTITUTIORS, LESS CASH ITEBS IR THE PROCESS OF COLLECTIOR ARD F.H. FLOAT, LESS THE ESTIMATED ABOURT OF DEBARD DEPOSITS HELD AT COMMERCIAL BARKS BY THRIFT IRSTITUTIORS TO SERVICE THEIR OCD LIABILITIES.

4/ CONSISTS OF NOR ARD ATS BALARCES AT COMMERCIAL BARKS, U.S. BRARCHES ARD AGERCIES OF FOREIGR BARKS, ARD EDGE ACT CORPORATIONS. IHCLUDES SUPER NORS OF $47.9 BILLION IR THE REEK ERDED MARCH 3, $48.8 B1LLIOU LB THE REEK ERDED MARCH 10, ARD $48.5 BILLION IR THE REEK ERDED MARCH 17.

5/ CONSISTS OF ROR ARD ATS BALARCES AT SAVIRGS ARD LOAR ASSOCIATIONS ARD MUTUAL SAVIRGS BARKS, CREDIT URIOR SHARE DRAFT BALARCES, ARD DEHAHD DEPOSITS AT THRIFTS. IRCLUDES SUPER RORS OF $19.5 BILLION IR THE REEK EUDED MARCH 3, $20.1 BILLION IR THE REEK ERDED MARCH 10, ARD $19.9 BILLION IR THE REEK ERDED MARCH 17.

6/ SUM OF OVERRIGHT RPS ARD EURODOLLARS, HORBI MARKET FURD BALARCES (GEHERAL PURPOSE ARD BRQKiEBi/DEkLESi) , HMDAS ARD SAVIRGS ARD SHALL TIME DEPOSITS LESS THE ESTIHATED AMOUHT OF DEBARD DEPOSITS ARD VAULT CASH HELD BY THRIFT IRSTITUTIORS TO SERVICE THEIR TIME AMD SAVIRGS DEPOSIT LIABILITIES.

7/ SUM OF LARGE TIME DEPOSITS, TERM RPS AMD EURODOLLARS OF U.S. RESIDENTS, MOREY MARKET FURD BALARCES (IRSTITUTIOH-OH1Y), LESS A COHSOLIDATIOH ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERRIGHT RPS ARD EURODOLLARS HELD BY INSTITUTION-ONLY HONEY MARKET MUTUAL FUNDS.

3/ CONSISTS OF OVERRIGHT ARD CONTINUING CONTRACT RPS ISSUED BY COMMERCIAL BARKS TO OTHER THAR DEPOSITORY IRSTITUTIORS ARD MOREY MARKET MUTUAL FURDS (GENERAL PURPOSE AND BROKER/DEALER).

9/ ISSUED BY FOREIGN BRANCHES OF U.S. BANKS RORLDMIDE TO U.S. RESIDENTS OTHER THAN DEPOSITOR! IRSTITUTIORS AND MONEY MARKET MUTUAL FUNDS (GENERAL PURPOSE AND BROKER/DEALER).


H.6(508) Table 5-continued

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

Dale

1 9 8 5 - F E B . HAB.

APR. HAX JOHE

J O L I AUG. SEPT.

OCT. 1 0 ? . DEC.

1 9 8 6 - J A H . FEB.

WEEK E I D I I G

1986 FEB. 3

10 17 24

HAH. 3 10 P 17 P

| Money market deposit accounts _____

commercial banks

! 2 8 9 . % 2 9 4 . 1

2 9 5 . 3 2 9 8 . 4 3 0 7 . 5

3 1 3 . 2 3 1 7 . 9 3 2 1 . 3

3 2 4 . 4 3 2 9 . 3 3 3 2 . 5

3 3 6 . 8 3 3 7 . 0

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

3 3 8 . 4 3 3 9 . 7 3 4 0 . 5

at thrift

institutions

1 6 1 . 0 1 6 6 . 1

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

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

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

1 7 9 . 1 1 7 9 . 5

total

4 5 0 . 5 4 6 0 . 2

4 6 2 . 5 4 6 6 . 4 4 7 8 . 1

4 8 7 . 2 4 9 5 . 2 4 9 9 . 8

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

5 1 5 . 8 5 1 6 . 5

Savings deposits _ commercial

banks

1 2 0 . 4 1 2 0 . 6

1 2 1 . 0 1 2 1 . 8 1 2 3 . 2

1 2 4 . 4 124 .Q 1 2 3 . 7

1 2 4 . 6 1 2 4 . 3 1 2 3 . 5

1 2 3 . 9 1 2 3 . 6

1 2 3 . 3 1 2 3 . 7 1 2 3 . 6 1 2 3 . 6

1 2 3 . 7 1 2 4 . 5 1 2 4 . 8

at thrift

Institutions

1 6 7 . 7 1 6 9 . 2

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

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

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

1 7 8 . 8 1 7 9 . 0

i

total

2 8 8 . 2 2 8 9 . 8

2 9 0 . 6 2 9 - . 2 2 9 5 . 4

2 9 8 . 9 2 9 8 . 9 2 9 9 . 1

3 0 2 . 9 3 0 3 . 3 3 0 1 . 9

3 0 2 . 7 3 0 2 . 7

Small denomination time deposits2

_ _ _ _ _ commercial

banks

3 8 4 . 1 3 8 3 . 7

3 8 3 . 8 3 8 5 . 2 3 8 6 . 5

3 8 6 . 5 3 8 5 . 3 3 8 5 . 1

3 8 4 . 8 3 8 4 . 2 3 6 4 . 8

3 8 6 . 5 3 8 6 . 9

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

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

at thrift

Institutions

5 0 1 . 7 4 9 8 . 7

4 9 8 . 0 4 9 8 . 2 4 9 9 . 9

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

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

5 0 2 . 6 5 0 4 . 9

total

8 8 5 . 8 8 8 2 . 4

8 8 1 . 8 8 8 3 . 5 8 8 6 . 3

8 6 7 . 1 8 8 2 . 5 8 8 0 . 5

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

6 8 9 . 2 8 9 1 . 8

Large denomination time deposits3 __ commercial

banks4

2 6 3 . 1 2 6 6 . 9

2 6 9 . 2 2 6 8 . 5 2 6 5 . 5

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

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

2 6 8 . 5 2 9 0 . 2

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

2 8 8 . 1 2 8 7 . 2 2 8 7 . 6

at thrift

institutions

1 5 4 . 2 1 5 2 . 6

1 5 2 . 7 1 5 5 . 1 1 5 4 . 9

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

1 5 6 . 2 1 5 7 . 0 1 5 7 . 8

1 5 9 . 0 1 6 0 . 6

total

4 1 7 . 3 4 2 1 . 5

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

4 1 6 . 1 4 2 1 . 4 4 2 7 . 6

4 3 2 . 6 4 3 5 . 3 4 3 8 . 7

4 4 7 . 5 4 5 0 . 8

V 2/ 3/

SAfHCS DEPOSITS EXCLUDE HHDAS. SHALL DEIOHIIATIOI TIES DEPOSITS ~ IICLUDIIG DETAIL EPS ABE THOSE ISSUED II AHOUITS OF LESS THAI $100,000. ALL INDIflDUAL BETIBEHEIT ACCOOITS (IRA) AID KBOGH ACCOOITS AT COHHEBCIAL BAIKS AID THRIFTS ARE SUBTRACTED FROH SHALL TIHE DEPOSITS. LARGE DEIOHINATIOH TIHE DEPOSITS ARE THOSE ISSUED II AHOUHTS OF $100,000 OB HORB, EICLUDIIG THOSE BOOHED AT IITEBIATIOIAL BANKING FACILITIES (IBFS) LARGE DEIOHINATIOH TIHE DEPOSITS AT COHHERCIAL BAIKS LESS THOSE HELD BI HONE! HARKET HUTUAL FOIDS, DEPOSITORI IHSTI-U1IOIS AID FOREIGI BAIKS AID OFFICIAL INSTITUTIONS.


Hsasm

COMPONENTS OF THE MONEY STOCK, UQUiO ASSETS AND DEST 8*n*

SPECIAL SUPPLEMENTARY TABLE

Monthly Survey of Selected Deposits and Other Accounts At Al l Insured Commercial Banks and All Mutual Savings Banks

January 29, 1986 and February 26, 1986 (not seasonally adjusted)

Liability Categories

NOW accounts2* (standard error of the estimate) Money market deposit accounts3* Interest-bearing tlae deposits with balances of less than $100,000 with original maturities of:*

7 to 31 days (standard error of the estimate)



183 days to 1 year (standard error of the estimate)

over 1 year to 2-1/2 years (standard error of the estimate)

2-1/2 years and over (standard error of the estimate) All IRA/Keogh Plan deposits5 (standard error of the estimate) Retail repurchase agreements^ (standard error of the estimate)

Liability Categories

NOW accounts2* (standard error of the estimate) Money market deposit accounts^* ! (standard error of the estimate) Interest-bearing time deposits with | balances of less than $100,000 with original maturities of:*

7 to 31 days (standard error of the estimate) 1


92 to 182 days (standard error of the estimate) 1

183 days to 1 year (standard error of the estimate)

over 1 year to 2-1/2 years 1 (standard error of the estimate) 1

2-1/2 years and over (standard error of the estimate) All IRA and Keogh Flan deposits5 (standard error of the estimate) Retail repurchase agreements6 (standard error of the estimate) 1

[~ Insured Commercial Banks 1 Amount Outstanding ($mil) January 29

! 114,380 1 (736)

335,624

5,040 (378)

21,692 (590)

146,290 (2,231) 67,046 (1,628) 82,468 (1,731)

117,809 (1,891) 61,783 (540)

1,168 (191)

(February 26 118,110

(848) 338,411

5,190 (368)

21,620 (695)

145,180 1 (2,206)

67,706 (1,636) 83,409 (1,755) 119,065 (1,892) 63,119 (555) 1,182 (230)

| Average Rate Paid (X) January 29

5.75

6.73

6.82

7.14/^

| February 26 5.74

6.67

6.84

7.13

7.49/1 7.47

7.78

8.23

8.65

N.A.

6.74

7.77

8.21

8.58

N.A.

6.74

| Number of I 1 January 29

13,626

12,809

8,131

12,643

13,432

12,976

12,949

12,840

13,045

2,899

ssulng Banks [February 26 !

13,633

12,838

8,123

12,607

13,416 1

13,041

12,928

12,894

13,167

2,874

State-Chartered Mutual Savings Banks | Amount Outstanding ($uTY January 29

N.A. (N.A.) 29,777

(84)

196 (31) 966 (62)

20,777 (484)

12,894 (307)

12,378 (97)

19,922 . aw 10,476 (211) 75 (48)

February 26 N.A. (N.A.)

29,813 (83)

221 (38) 1 958 (64) |

20,551 (482)

13,003 (238)

12,584 (106)

20,145 (73)

10,704 | (218) 78 ! (51) |

Average Rate Paid (Z) January 29

N.A.

6.96

6.58

7.06 ^

/ 7.72

8.21

8.55

9.03

N.A. |

6.66

February 26 N.A.

6.95

6.83

7.10

7.74

8.23

8.53 I

9.02 |

N.A.

6.98

Number of Issuing Banks | January 29

N.A.

339

114

289 |

337 1

332 |

330

347

343 !

28

February 26 1 N.A.

339

114

289

337

332 1 330

347

343

28 1 1 N.A. - Data not available. 1. Estimates are based on data collected by the Federal Reserve from a stratified random sample of about 550 banks and 75 mutual savings banks. 2. As of January 1, 1986 Interest rate ceilings were removed from all NOW accounts. Beginning with the January 1986 data the NOW account category Includes all NOW accounts, including those accounts which were subject to a 5.25 percent regulatory interest rate restriction prior to January 1, 1986. 3. Money market deposit accounts (MMDAs)Deposits with no required minimum maturity but institutions must reserve the right to require at least seven day's notice prior to withdrawal, no restrictions on depositor eligibility, or limitations on the amount of Interest that may be paid; such accounts may allow up to six transfers per month, no more than three of which may be draft and aay permit unlimited withdrawals by mail, messenger, or in person. Estimates for this category of deposits are based on data collected by the Federal Reserve from weekly deposit reports submitted by about 10,500 commercial banks. 4. All Interest-bearing time certificates and open account time deposits with balances of less than $100,000, including those held in DtAs and Keogh Flan deposits. 5. All IRA/Keogh Plan time deposits regardless of sire, type of instrument in which held, or interest rate paid. 6. Retail repurchase agreements are in denominations of less than $100,000 with maturities of less than 90 days that ariae from the transfer of direct obligations of, or obligations fully-guaranteed aa to principal and interest by, the U.S. Government or an agency thereof. * As of January 1, 1986 the $1,000 minimum balance requirement on Super HOW and MMDA accounts was removed.


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