h6_19871224.pdf

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

?*AL .

H.6 (508) Table 1

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

1 9 8 6 N O V . DEC.

1 9 8 7 J A W . F E B . SAB. APR. HAY JUNE JULY AUG. S E P T . OCT. NOV.

1 9 8 6 N O V . 7 1 2 . 4 2 7 7 6 . 3 DEC. 7 3 0 . 5 2 8 0 1 . 2

1 9 8 7 J A N . 7 3 7 . 7 2 8 2 3 . 5 F E B . 7 3 7 . 4 2 8 2 3 . 0 MAR. 7 3 9 . 5 2 8 2 6 . 5 APR. 7 5 0 . 3 2 8 3 9 . 9 MAY 7 5 3 . 1 2 8 4 0 . 4 JUNE 7 4 6 . 6 2 8 4 1 . 6 JULY 7 4 7 . 6 2 8 4 7 . 8 AUG. 7 5 1 . 1 2 8 6 2 . 8 S E P T . 7 5 1 . 3 2 8 7 6 . 0 OCT. 7 6 0 . 7 2 8 9 2 . 7 NOV. 7 5 6 . 6 2 8 9 2 . 2

Seasonally adjusted

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

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

Not seasonally adjusted

7 1 5 . 4 7 4 6 . 5

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

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

2 8 3 3 . 7 2811.1 2 8 2 0 . 3 2 8 4 8 . 6 2 8 2 9 - 3 2 8 4 2 . 7 2 8 5 5 . 0 2860.8 2868.8 2 8 8 8 . 7 2 8 9 4 . 6

DECEMBER 2 4 , 1 9 8 7

M1 M2 M3 L Debt M1 plus overnight RPs M2 plus

Date Sum of currency, travelers checks,

demand deposits and other checkable deposits1

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

and savings and small time deposits2

large time deposits, term RPs, term Eurodollars

and institution-only MMMF balances3

M3 plus other liquid assets4

Debt of domestic nonfinancial sectors*

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

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

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

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

1 For period ended

M1 1

For period ended Seasonally adjusted Not seasonally adjusted 1

For period ended 13-week average 4-week average week average 13-week average 4-week average week average

* 1987NOV. 2 7 5 4 . 7 7 6 1 . 2 7 6 2 . 7 7 5 2 . 4 7 5 6 . 2 7 5 5 . 4 9 7 5 5 . 4 7 6 2 . 5 7 5 9 . 2 7 5 3 . 1 7 5 8 . 9 7 6 7 . 1

16 7 5 5 . 8 7 6 1 . 6 7 5 6 . 2 7 5 3 . t i 7 5 9 . 5 7 6 3 . 0

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

DEC. 7 P 7 5 6 . 9 7 5 5 . 3 7 5 4 . 9 7 5 6 . 6 7 6 0 . 2 7 7 0 . 6 14 P 7 5 6 . 9

I

7 5 4 . 0 7 5 0 . 9 7 5 6 . 9 7 6 U . 8 7 6 5 . 3

M0TE2 S P E C I A L CAUTION SHOULD BE TAivEN IN I N T E R P R E T I N G WEEK-TO-WEEK CHANGES I N MONEY SUPPLY DATA, WHICH ARE HIGHLY VOLATILE AND SUBJECT 1 0 R E V I S I O N . P I N D I C A T E S PRELIMINARY DATA. FOOTNOTES APPEAR 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

M1 M2 M3 Debt1

3 MONTHS FROM AUG. 1987 TO NOV. 1987 2 . 9 4 . 1 6 . 0 8 . 8

6 MONTHS FROM MAY 1 9 8 7 TO MOV. 1987 0 . 9 3 . 6 5 . 5 8 . 9

12 MONTHS FROM NOV. 1986 TO NOV. 1987 6 . 2 4 . 2 5 . 6 9 . 9

THIRTEEN WEEKS ENDING DEC. H 1987 FROM THIRTEEN WEEKS ENDING;

SEPT. 14 1 9 8 7 ( 1 3 WEEKS PREVIOUS) 2 . 2

JUNE 15 1*87 ( 2 6 WEEKS PREVIOUS) 4 . 2

DEC. 15 1 9 6 6 ( 5 2 WEEKS PREVIOUS) 7 . 0

1 / GHOiTH BATES FOR DEBT ABB BkSZD ON PERIODS BEGINNING AMD ENDING QUE MOMTH EARLIER THAN FOR THE MONET A l t AGGREGATES, NAMELY, J0LY 1987 TO OCTOBER 1 9 8 7 , APRIL 1987 TO OCTOBER 1 9 8 7 , AMD OCTOBER 1986 TO OCTOBER 1 9 8 7 , 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 MOMBANK I S S U E R S ; (3) DEMAND DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAM THOSE DUE TO DOMESTIC BANES, THE U . S . GOVERNMENT, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS I N THE PROCESS OF COLLECTION AND FEDERAL RESERVE FLOAT; AND (4) OTHER CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE ORDER OF WITHDRAWAL (NO#) AMD AUTOMATIC TRANSFER SERVICE (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 AMD DEMAND DEPOSITS, RESPECTIVELY, HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR OCD L I A B I L I T I E S .

2 / CONSISTS OF Ml PLUS OVERNIGHT (AMD CONTINUING CONTRACT) BPS ISSUED BY ALL COMMERCIAL BANKS AMD OVERNIGHT EURODOLLARS ISSUED TO U . S . RESIDENTS BY FOREIGN BRANCHES OF U . S . BANKS MORLDSIDB, MMDAS, SAVINGS AND SMALL DENOMINATION TIME DEPOSITS (TIME DEPOSITSINCLUDING RETAIL R P S I N AMOUNTS OF LESS THAN $ 1 0 0 , 0 0 0 ) , AND BALANCES I N BOTH TAXABLE AND TAX-EXEMPT GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUNDS. EXCLUDES IRA AND KEOGH BALANCES AT DEPOSITORY INSTITUTIONS AMD MONEY MARKET FUNDS. ALSO EXCLUDES ALL BALANCES HELD BY U . S . COMMERCIAL BANKS, MONEY MARKET FUNDS (GENERAL PURPOSE AND BROKER/DEALER), FOREIGN GOVEBMMEMTS AND COMMSBCIAL BANKS, AND THE U . S . GOVEHEMENT. ALSO SUBTBACTED I S A CONSOLIDATION ADJUSTMENT THAT BEPBESENTS THE ESTIMATED AMOUNT OF DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS.

3 / CONSISTS OF M2 PLUS LARGE DENOMINATION TIME DEPOSITS ( IN AMOUNTS OF $ 1 0 0 , 0 0 0 OR MORE) AND TERM RP L I A B I L I T I E S ISSUED BY COMMERCIAL BANKS AND THRIFT 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 I S A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BY IN STIT 0TIO N-ONLY MONEY MARKET MUTUAL FUNDS.

4 / CONSISTS OF M3 PLUS THE NONBANK PUBLIC HOLDINGS OF U . S . SAVINGS BONDS, SHORT-TERM TREASURY S E C U R I T I E S , COMMERCIAL PAPER AND BANKERS ACCEPTANCES, NET OF MONEY MARKET MUTUAL FUND HOLDINGS OF THESE ASSETS.

5 / DEBT OF DOMESTIC NONFIMANCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MARKET DEBT OF THE UNITED STATES GOVERNMENT, STATE AND LOCAL GOVERNMENTS AND PRIVATE NONFIMANCIAL 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 QN DEBT OF DOMESTIC NONFINANCIAL SECTORS ARB PRESENTED IN MONTH-AVERAGE FORM, DERIVED BY AVERAGING MONTH-END LEVELS OF ADJACENT MONTHS. THESE DATA HAVE ALSO BEEN ADJUSTED TO REMOVE STATISTICAL DISCONTINUITIES THAT MAY ARISE IN THE UNDERLYING FLOW OF FUNDS S T A T I S T I C S . TtiE PRESENTATION OF DEBT DATA IN THIS RELEASE DIFFERS^ THEREFORE, FROM THE QUARTERLY FLOW OF FUNDS STATISTICS CONTAINED IN THE FEDERAL RESERVE RELEASES 2 . 7 AND Z . 1 . IN THOSE RELEASES, PUBLISHED LEVELS OF CREDIT MARKET DEBT ARE MEASURED ON A UUARTER-END BASIS AND INCLUDE DISCONTINUITIES .


W e 3

COMPONENTS OF THE MONEY STOCK MNons of e # M W l I

Other oompc ments Scvtnoe depoelts' Small me AseoiMs" Uri t ime depot Ute* Oe# Currency1 T r i l l i n

checks' Demand

depoehsa checkable depoelle4 ki M *

' in US only*

el commercial

banks

el thrift

tnetKutione total

el commercial

banks

el thrift

tnetttuttone total

at commercial

banks1*

et thrift

InetWuttone total

1 9 8 6 - NOV. DEC.

1 8 2 . 4 1 8 3 . 5

6 . 4 6 . 4

2 9 7 . 8 3 0 8 . 3

2 2 5 . 8 2 3 2 . 3

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

6 8 6 . 1 6 9 1 . 0

1 5 0 . 2 1 5 4 . 5

2 0 8 . 3 2 1 1 . 8

3 5 8 . 5 3 6 6 . 3

3 6 5 . 9 3 6 4 . 7

4 9 1 . 3 4 8 8 . 7

8 5 7 . 1 8 5 3 . 5

2 8 9 . 9 2 9 1 . 8

1 5 5 . 9 1 5 5 . 3

4 4 5 . 8 4 4 7 . 1

19 8 7 - J AN. F E B . MAR.

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

6 . 5 6 . 7 6 . 8

3 0 5 . 1 3 0 < L 8 2 9 9 . 3

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

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

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

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

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

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

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

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

8 5 1 . 6 8 4 8 . 5 84 6 . 1

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

1 5 4 . Q 1 5 2 . 3 1 5 1 . 1

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

APR. MAI JUNE

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

6 . 8 6 . 7 6 . 8

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

2 5 0 . 7 2 5 2 . 2 2 5 1 . 2

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

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

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

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

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

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

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

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

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

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

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

JUL I AUG. S E P T .

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

6 . 8 6 . 9 7 . 0

2 9 6 . 2 2 9 6 . 4 2 9 4 . 1

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

2 1 0 0 . 2 2 1 1 1 . 7 2 1 2 4 . 7

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

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

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

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

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

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

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

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

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

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

OCT. 1 0 V.

1 9 6 . 2 1 9 8 . 4

7 . 0 7 . 0

3 0 0 . 4 2 9 5 . 7

2 5 7 . 2 2 5 5 . 6

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

7 5 1 . 0 7 6 5 . 6

1 7 7 . 5 1 7 7 . 0

2 3 9 . 3 2 3 5 . 0

4 1 6 . 7 4 1 2 . 0

3 7 3 . 0 3 8 0 . 9

5 0 9 . 9 5 2 0 . 7

8 8 2 . 9 9 0 1 . 6

3 1 7 . 0 3 2 3 . 2

1 5 9 . 1 1 6 2 . 7

4 7 6 . 1 4 8 5 . 9

SEEK ENDING i

1987 NOV. 2

9 16 2 3 3 0

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

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

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

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

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

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

DEC. 7 P 14 P

1 9 8 . 6 1 9 9 . 2

2 9 5 . 0 2 9 1 . 4

2 5 4 . 3 2 5 3 . 4

1 7 7 . 5 1 7 7 . 5

3 8 3 . 6 3 8 4 . 3

3 2 2 . 8 3 2 4 . 1

1 / COB REMCI OUTSIDE M E U . S . TREASURI, FEDERAL RESERVE BANKS AMD VAULTS OF COMMERCIAL BANKS. EXCLUDES THE ESTIMATED AHOUIT OF VAULT CASH B I THRIFT INSTITUTIONS TO SERVICE THEIR OCD L I A B I L I T I E S .

2 / OUTSTANDING AHOUIT OF U . S . DOLLAR-DENOHIMATED TRAVELERS CHECKS OF IOIHABK I S S U E R S . TRAVELERS CHECKS ISSUED BI DEPOSITOR!

3 / D E h S D D E P ^ M B A ? C O M S C S L 0 B A K S AID FOREIGN RELATED INSTITUTIONS OTHER THAN THOSE DUE TO DOHESTIC BANKS, THE U . S . GOIERB-MEIT AID FOASIGI BASKS AND OFFICIAL INSTITUTIONS LESS CASH I T E E S I I THE PROCESS OF COLLECTIOI AND FEDERAL RESERVE FLOAT. EXCLUDES THE ESTIMATED AHOUIT OF DEMAMD DEPOSITS HELD AT COMMERCIAL BAIKS B I THRIFT INSTITUTIONS TO SERVICE THEIR OCD

/ C O W S I S I ^ O f ' e O i AW> ATS BALI* CBS AX ALL DBPOSIIOaX I I S T I T U T I C W S . CH1DIT 0 MI OB SHJLBK DBAfI BALAHC8S AHD

DEMAND DEPOSITS AND VAULT CASH HELD B I THRIFT INSTITUTIONS TO SERVICE THEIR TIME AID SAVINGS D E P O S I T S L I A B I L I T I E S . 6 / SUM OF LARGE TIME D E P O S I T S , TERM EPS AND TERM EURODOLLARS OF U . S . R E S I D E N T S , HO BE I MARKET FUND BALA I C E S ( I I S T I T U T I O M -

O M L I ) , LESS A CONSOLIDATION ADJOSTIEIT THAT REPRESENTS THE ESTIMATED AHOUIT OF OVERSIGHT EPS AID EURODOLLARS HELD B I I N S T I T O T I O I - O I L I MONSI MARKET FOWDS.

9 / LARGBDDENOHIIATION TIME DEPOSITS ARE THOSE ISSUED IM AMOUNTS OF $ 1 0 0 , 0 0 0 OR MORE, EXCLUDING THOSE BOOKED AT

1 0 / L1RGE*DEN0HIMATI0M TIME DEPOSITS AT COMMERCIAL BAIKS LESS THOSE HELD B I MQNEI MAHKET MUTUAL F U I D S , DEPOSITO&I INSTITUTIONS AID FOREIGI BAIKS AND OFFICIAL I M S T I T U T I O I S .


H.6 (508) Tabte 5

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

Other checkable deposits Nontransactions components General

Date Currency1 Itravelers checks'

Demand deposits1 at commercial

banks' at thrift

institutions* total in M2* in M3 only'

Overnight RPs"

j Overnight I Eurodollars'

purpose and broker/dealer

money market funds

19*6-MOV. DEC.

183 .2 1*6.2

6 . 1 6 . 0

300 .1 3 1 9 . 5

155.7 162.8

7 0 . 3 7 2 . 2

2 2 6 . 0 2 3 5 . 0

2 0 6 3 . 1 2068 .2

6 8 8 . 1 6 9 2 . 8

5 8 . 7 5 9 . 4

1 18 .8 19 .0

207 . 1 2 0 7 . 6

198 7-JAM. FEB. AAA.

184.6 164 . 8 186.0

6 . 0 6 . 2 6 . 4

311.0 292 .0 2 9 1 . 5

169.8 167.6 170 .4

73. 1 7 2 . 7 7 4 . 5

2 4 2 . 8 244-3 245 .0

2 0 8 9 . 3 2 0 8 7 . 8 2091 .4

695 .4 701 .1 7 0 3 . 5

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

2 2 . 3 19 .5 18 .6

2 0 9 . 0 21Q.7 2 1 1 . 6

APB. BAY JUMB

188.0 190.2 191.9

6 . 4 6 . 5 7 . 1

305 .8 298 .8 298 .8

178.6 171.7 172.9

7 8 . 8 7 7 . 8 7 8 . 4

257 .4 249 .4 2 5 1 . 3

2 0 9 1 . 0 2084 .4 2093 .6

702 .8 720 .4 731 .7 j

5 6 . 2 55. 1

| 5 4 . 5

2 0 . 7 2 0 . 9 2 0 . 0 j

' 2 1 1 . 0 2 0 8 . 9 2 0 9 . 6

J U L * W 6 . *##T.

193.8 194.1 194.3

7 . 7 7 . 9 7 . 6

298 .6 294 .8 293 .3

172.9 174 .5 176 .3

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

251 .4 252 .6 2 5 4 . 3

2103 .4 2111 . 4 2119 . 4

728 .0 738 .6 ! 746 . 4 i

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

18 .7 18 .4 2 1 . 1

20 9 . 6 2 1 2 . 2 2 1 5 . 5

OCT. MOW.

1*5.9 199 .3

7 .0 6 . 6

299 .8 298 .0

176.7 177.7

7 8 . 3 7 8 . 1

255 .0 255 .8

2 1 3 1 . 0 2134 .8

750 .8 767. 5 i

64 .4 6 2 . 2 ?J:S 218. 1 2 2 0 . 2

8BBK BMD1MG:

1987-MO-f. 2 9

16 23 30

196.2 199.5 199 .4 198.9 200 .0

i

299 .4 301 . 4 299.2 293 .4 296 .1

175.6 179.6 178.7 176.4 176.0

7 7 . 5 7 9 . 8 79 .0 76 .7 76 .4

2 5 3 . 1 259 .4 257 .7 253. 1 252 .4

I

6 5 . 9 6 3 . 0 62. 1 63. 1 5 9 . 5 I

! 2 0 . 2 18 .9 17 .1 j 17 .5 | 11.9 j

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

DEC. 7 P 14 P

2 0 1 . 5 2 0 1 . 6

L

301.7 299 .6

181.2 179.7

7 9 . 7 7 7 . 9

260 .9 257 .6

6 1 . 6 i 6 2 . 8 |

1

1

16 .6 17.4

j

I

221 . 1 2 2 2 . 6

V

2 / 3 /

4 /

5 /

6 /

7 /

8 /

9 /

BZC10BBS THE SSTIBATED CBBBEBCI O O T S I B I H I B . S . T B E A S B I I , PEDESA1 iiSUTB BAM IS ABB T I B T A B U S Of COBBBBCIA1 B A M S . ABOOIT Of VA01T CASH B U D B I T B B I f T I I S T I T O T I O I S TO SBBV1CB IBBXB OCB L I A B I L I T I E S . 0 0 T S T A 1 D I I 0 ABOOIT Of U . S . DOUAB-DBBOBXBATBD tBATBLEBS C U I U S OF NONSAM I S S O B B S . TSAfBLBBS CHECKS I S S U E D BX DBPOSITOBI I I S T I T O T I O I S ABB INCLUDED I B BBBASb DBPOSITS. D M M B DEPOSITS AT COBBBBCIAL BASKS OTBBB I BAH TBOSB BOB TO DOBBSTIC BASKS. TBB O . S . GO M B M B I T AID POBBIGI BANKS AID O F F I C I A L I I S T I T O T I O I S , ! , ? CASB ZTBBS I B TBB PBOCBSS O f COUBCTIOB ABO i . B . f l O A T , LESS TBB B S t l B A T B D ABOOIT O f OBBAIO DEPOSITS HZLD AT C0BBBBCIA1 BABES B I THBIFT I I S T I T O T I O I S TO SEBTICB TBBIB OCD L I A B I L I T I E S . C O B S I S f B Of BOB ABB ACS BALAICBS AT COBBBBCIAL B A M S , O . S . BBABCBBS AID A6BBCIBS Of f O B B I O B B A I K S . AID 8 M B ACT C t i B J O l A T I O B S . C O I S I S T S O f 1 0 1 A B ATS BA1ABCBS AT S A V I I 6 S ABO LOAI ASSOCIATIOBS ABO SOTO A t S A V I I 6 S B A I K S , CBBOI* O I I O I SBABB BBAfC ABB OBBABO DBPOSITS AT T B B I f T S . S M O f OVBBBICBT BPS ABO BOBOOOUABS. BOBBI BABKBT fOBD B ALAS CSS (SBIESAL POBJOSB ABO B B 0 K B B / B B A 1 B B ) , IBBAS AID SAVXBOS A W S1ALL TZBB DBPOSITS L s a H I BSZIBAIBO ABOBBT Of OBBAIB DEPOSITS AID TABLT CASE B B 1 0 BX T B B I f T I I S T I T O T I O I S TO S I I U C I TBBIB TXBB A I D SATXICS DBPOSIT L I A B I L I T I E S . c m QB 1 , 1 1 6 1 n o D U O S I T S . TBBB BBS A l # BOBOOOUABS Of O . S . BBSIOSBTS, BOBBI BABKBT f O I B BALABCES ( I S S T I T O T I O B - O S L X ) , LESS A COISO L I BAT 1 0 1 AOJBSTIBNI TBAT BBBBBSBBTS TBB S S T I I A T S A ABOBBT O f 0 I B B I I 6 B T BPS ABO BOBOOOUABS BBLD BX IBSTXTOTIOB-QBLX 101EX BABKBT 80T0AL f O B O S . C O I S I S T S Of OTEBIISBT ABO C O I T I I O I I 6 COITIACT BPS I S S U E D B I COIBEBCIAL BANKS TO OTBBB TBAI OBPOSITOBI I I S T I T O T I O I S ABO HOI EX BABKBT JIOTOAL f O I B S (GEIBHAL POBPOSE AND BBOKBB/DBALBB). XSSOED B I P0BEX6B BB ABC BBS Of O . S . BAIKS SOBLOIIOS TO O . S . BBSIOEITS OTBBB THAI DEPOSITOBX I I S T I T O T I O I S AND BOIBX BABKBT BOTOAL f O I D S (6EIBBAL POBPOSE AND BBOKBB/DBALBB).


H.6 (508) Table 5-continued

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

Money market deposit a I I Savings deposits' Small denomination time deposits' Large denomination time deposits* Date

at commercial

banks

at thrift

institutions total

at commercial

banks

at thrift

institutions total

at commercial

banks

I a t thrift institutions

total at

commercial banks4

at thrift

institutions total

1 9 8 6 - NOV. DEC.

3 7 5 . 9 3 7 9 . 0

1 9 2 . 8 1 9 2 . 4

5 6 8 . 7 5 7 1 . 4

1 5 0 . 3 1 5 3 . 8

2 0 9 . 0 2 1 1 . 8

3 5 9 . 3 3 6 5 . 6

3 6 6 . 7 3 6 4 . 4

4 9 2 . 8 4 8 9 . 8

8 5 9 . 5 8 5 4 . 2

2 9 0 . 6 2 9 3 . 2

1 5 6 . 0 1 5 4 . 9

4 4 6 . 7 4 4 8 . 1

1 9 8 7 - J A N . F E B . MAR.

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

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

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

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

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

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

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

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

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

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

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

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

APR. MAX JUNE

3 7 5 . 4 3 6 8 . 9 3 6 7 . 6

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

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

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

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

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

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

4 8 4 . 7 4 8 2 . 8 4 8 7 . 2

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

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

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

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

JULX AUG. SEPT.

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

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

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

1 7 8 . 4 1 7 8 . 2 1 7 7 . 9

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

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

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

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

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

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

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

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

OCT. NOV.

3 5 9 . 1 3 5 7 . 2

1 7 3 . 6 1 6 9 . 2

5 3 2 . 6 5 2 6 . 3

1 7 8 . 3 1 7 7 . 3

2 3 9 . 4 2 3 5 . 9

4 1 7 . 7 4 1 3 . 1

3 7 4 . 0 3 8 1 . 5

5 1 1 . 1 5 2 2 . 1

8 8 5 . 1 9 0 3 . 6

3 1 8 . 3 3 2 4 . Q

1 5 9 . 5 1 6 2 . 8

4 7 7 . 8 4 8 6 . 8

WEEK ENDING

1987 NOV. 2

9 16 2 3 3 0

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

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

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

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

| DEC. 7 P

14 P 3 5 8 . 5 3 5 8 . 5

*

1 7 7 . 2 1 7 7 . 1

3 8 3 . 6 3 8 3 . 8

3 2 3 . 4 3 2 5 . 3

1 / SAVINGS DEPOSITS EXCLUDE BHDAS. 2 / SHALL DENOMINATION TIME DEPOSITS INCLUDING RETAIL BPS ARE THOSE ISSUED IN AMOUNTS OF LESS THAN $ 1 0 0 , 0 0 0 . ALL

INDIVIDUAL RETIREMENT ACCOUNTS ( IRA) AND KEOGH ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS ABE SUBTRACTED St ROM SMALL TIME DEPOSITS .

3 / LAflGE DENOMINATION TIME DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF $ 1 0 0 , 0 0 0 OR MORE, EXCLUDING THOSE BOOKED AT INTERNATIONAL BANKING F A C I L I T I E S ( I B F S ) .

4 / LAhGE DENOMINATION TIME DEPOSITS" AT COMMERCIAL BANKS LESS THOSE HELD BX MONEY MARKET MUTUAL FUNDS, DEPOSITOR! INSTITUTIONS AND FOREIGN BANKS AND O F F I C I A L I N S T I T U T I O N S .


H.6 (508) Table 5-continued

COMPONENTS OF THE MONEY STOCK, LIQUID ASSETS AND DEBT Billions of dollars, not seasonally adjusted 7

Date Institution

only money market funds

Term RPs1 Non M3 Components of L Components of Debt

Date Institution

only money market funds

at commercial banks

at thrift institutions

total Term Eurodollars2

Savings bonds

Short-term treasury

securities3 Bankers

acceptances4 Commercial

paper* Federal debt* Non-Federal6

debt

198 6 - S O ? . 8 4 . 4 3 7 . 2 4 6 . 6 8 3 . 8 7 9 . 3 8 9 . 9 2 8 7 . 7 3 8 . 0 2 2 7 . 9 1 7 7 2 . 3 5 7 1 3 . 3 DEC. 8 4 . 1 3 5 . 4 4 8 . 6 8 4 . 0 8 3 . 0 9 1 . 9 2 8 7 . 9 3 7 . 4 2 2 8 . 7 1 8 0 4 . 0 5 7 8 7 . 8

1987JAM, 8 4 . 0 3 4 . 1 4 9 . 5 8 3 . 6 8 4 . 7 9 2 . 7 2 8 4 . 9 3 7 . 8 2 3 9 . 3 1 8 1 7 . 6 5 8 3 8 . 8 F E B . 8 4 . 7 3 5 . 4 5 1 . 8 8 7 . 2 8 7 . 3 9 3 . 5 2 8 6 . 7 3 8 . 9 2 4 0 . 4 1 8 2 7 . 4 5 8 4 9 . 5 HAS. * 4 . 9 3 4 . 9 5 2 . 3 8 7 . 2 8 7 . 6 9 4 . 3 2 7 4 . 6 3 9 . 3 2 4 0 . 2 1 8 3 9 . 0 5 8 8 3 . 5

APB. 8 3 . 1 3 8 . 4 5 6 . 1 9 4 . 5 8 3 . 1 9 5 . 1 2 5 8 . 1 4 0 . 5 2 4 3 . 8 1 8 4 7 . 4 5 9 3 7 . 1 MAX 8 1 . 8 4 0 . 8 6 1 . 9 1 0 2 . 8 8 6 . 2 9 5 . 8 2 5 7 . 5 4 2 . 2 2 5 3 . 6 1 8 5 8 . 3 5 9 9 1 . 9 JUKE 8 1 . 3 4 0 . 8 67 . -0 1 0 7 . 8 8 8 . 8 9 6 . 5 2 5 8 . 2 4 3 . 5 2 5 5 . 1 1 8 6 9 . 5 6 0 4 5 . 5

J O L I 8 3 . 4 3 9 . 0 6 8 . 5 1 0 7 . 5 8 4 . 7 9 7 . 1 2 5 1 . 8 4 3 . 6 2 4 9 . 2 1 8 7 2 . 7 6 0 9 0 . 4 AUG. 8 3 . 4 4 0 . 1 6 7 . 9 1 0 8 . 0 8 9 . 6 9 7 . 7 2 5 9 . 7 4 3 . 6 2 4 9 . 2 1 8 8 3 . 7 6 1 2 8 . 8 S E P T . 8 0 . 7 4 0 . 9 b d . 8 1 0 9 . 7 9 3 . 8 9 8 . 3 2 6 2 . 3 4 4 . 4 2 5 6 . 8 1 9 0 0 . 2 6 1 8 1 . 7

OCT. 8 1 . 6 3 7 . 7 6 9 . 2 1 0 6 . 9 9 2 . 3 9 8 . 8 i 2 7 1 . 1 4 4 . 8 2 5 7 . 1 1 9 0 9 . 8 6 2 3 7 . 5 NO?. 8 8 . 5 3 9 . 8 6 9 . 9 1 0 9 . 7 9 0 . 1

SEEK EM DING:

1987NO ? . 2 8 5 . 2 3 9 . 0 9 8 7 . 8 3 9 . 8

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

DEC. 7 P 8 9 . 0 3 9 . 9 1 4 P 8 8 . 9 3 8 . 7

1 / TEBB BPS ABB THOSE 8J.TH OBIGINAL HAIUB1TIES G 1 U I 1 I T i l l OMB DAI, EXCLUDING CONTINUING COHIBACTS AMD BBTAIL BPS. INCLUDES A BBLATITBLX SB ALL ABOONT OF OIMIIGf l l BPS AT THBIPt INSTITUTIONS.

2 / TBBH BUBODOLLABS ABB MOSS HITH OBIGINAL BATUBITIBS 6BBATBB THAN ONB DAI. CONSISTS OF THOSB ISSUED TO U.S. BBSIDEMXS BI FOBBIGN BBANCBBS OF U.S. BANKS WOBJ.DHIDB AND BI ALL BANKING OFFICBS III THE 0KITED KINGDOB AMD CANADA. BICLODBS THOSE HKLD BI DBPOSIIOBI INSTITUTIONS AND 80*BI BASKET BUIUAL FUNDS.

3 / CONSISTS OF O.S. TBEASDBI BILLS AND COUPONS MITH BBBAINING BATOBITIBS OF LESS THAN 12 BONTflS HELD Bi OTHEB THAN DBPOSIIOBI INSTITUTIONS. FEDBBAL BBSBBVB BANKS, BONBI BABKBT BUTUAL FUNDS, AND FOBBIGM ENTITIES.

4 / NET OF BANK2BS ACCEPTANCES HELD BI ACCEPTING BANKS, FBDBBAL BBSBBVB BANKS, FOBBIGM OFFICIAL INSTITUTIONS, TUB FBDBBAL HOBB LOAN BANK SISTBB AND BONBI BABKBT BOTOAL FUNDS.

5 / TOTAL COHBERCIAL PAPBB LESS COBBEBCIALPAPBB HELD BI BONBI BABKBT BUIUAL FUNDS. 6 / DEBT DATA ABB ON A BONTHLI AVBBAGB BASIS, DBMIBO ATBBAGING END-OF-NONTB LBfBLS OF ADJACENT HONTHS, AND HAVB BBBN

ADJUSTED TO BBBOfB DISCONTINUITIES.


H 4 (BOB) Te D?e 6

MEMORANDUM ITEMS Billions of dollars, not seasonally adjusted g

Demand deposits at banks due to Time and U.S. government deposits IRA and Keogh Accounts savings deposits demand balances at note balances total demand time

Date foreign foreign due to foreign deposits at Federal at commercial deposits and and savings commercial thrift money commercial official commercial commercial Reserve banks note and deposits at banks institutions market total

banks institutions banks and banks Banks and thrift FR balances commercial mutual funds total

foreign official institutions banks mutual funds

institutions

1986- MOV. 9 . 7 2 . 0 4 . 1 3 .4 3 . 2 11.9 18.4 1.7 72 .1 9 5 . 6 10.7 178.4 DEC. 9 . 9 1.8 4 . 1 3 . 7 3 . 7 15 .5 22 .9 1.7 72 .8 9 6 . 2 10.7 179.7

1987-JAM. 10.4 1.8 4 . 0 3 . 7 9 . 6 2 3 . 8 37. 1 1.7 73.4 9 7 . 2 1Q.8 181.4 FEB. 9 .9 1.7 4 . 0 3 . 3 5 .0 25 .2 33 .6 1.6 74 .0 9 7 . 7 11.0 182.8 BAR. 9 . 5 1.7 4 . 0 3 . 5 3 . 1 13.6 2 0 . 3 1.6 75.4 9 8 . 8 11.2 185.4

APR. 9 .7 1.9 3 . 9 5 . 0 7 . 0 16.6 2 8 . 5 1 .7 7 8 . 5 101.3 12.4 192.1 HAY 9 . 6 2 . 1 3 . 9 3 .4 16.0 27 .4 46 .8 1.8 79 .2 102.0 13. 1 194.2 JO ME 9 . 8 2 . 0 3 . 9 3 . 6 8 . 7 2 1 . 8 34 .2 1.8 7 9 . 5 102.7 13 .3 195.4

JULI 9 .7 2 . 0 J . 8 3 . 3 5 . 3 2 3 . 3 31 .9 1 .8 8 0 . 1 103.4 13 .5 197.0 AUG. 9 . 3 2 . 1 3 . 8 3 .0 3 . 4 18.6 25 .0 1.8 #0 .7 103.5 14.0 198.3 SEPT. 9 .8 2 . 0 3 . 8 4 . 2 10 .3 2 1 . 3 3 5 . 8 1.7 8 1 . 3 104.3 14.3s 199. 9e

OCT. 9 . 9 1.9 3 . 8 3 . 2 8 . 9 27 .4 3 9 . 5 1.7 81 .7 104.9 14. 5e 201. 1e MOV. 9 . 8 1.7 3 . 8 3 . 2 4 . 0 22 .6 29 .8 1.7 82 .2 104.9e 14. 7 201. 8e

WEEK EMDIMG:

1987 \ MO?. 2 10.3 1 .9 3 . 8 3 .2 10 .5 29 .1 42 .8 1.7 .

10.1 1.7 3 . 8 3 .4 3 . 9 2 1 . 1 28 .4 1.7 16 9 . 6 1.8 3 . 8 3 . 6 3 . 9 2 4 . 5 32 .0 1.7

< 23 9 .7 1 .6 3 . 8 2 . 8 3 . 4 22. 1 2 8 . 3 1.7 30 9 .6 1 .7 3 . 8 3 . 1 2 . 9 20 .6 26 .6 1.7

DEC. 7 P 10.2 1.8 3 . 8 3 .2 4 . 0 15.1 2 2 . 3 1.7 14 P 10.2 1.6 3 . 8 2 . 8 4 . 2 8 . 7 15.8 1.7

e = estimated


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