h6_199302_revision.pdf

February 1993 MONEY STOCK REVISIONS

The attached historical data on the money stock reflect revisions from the annual benchmark and seasonal factor review. Monthly data for most items are shown from 1959 to 1992, and weekly figures for Ml and its components are shown from 1975 to 1992. Weekly figures for M2 and M3 are shown only for the period from 1981 to 1991, although weekly data for some individual components of the broader aggregates are shown for earlier years as well. Weekly data are based on weeks ended on Monday to correspond with the reporting cycle under contemporaneous reserve requirements. No data prior to 1975 have been constructed on the week-ended Monday basis.

Data for the monetary aggregates have been benchmarked using call reports through September 1992 and other sources. The benchmark revision and seasonal revisions lowered the annual growth rate of M2 by .2 percentage point over 1992. Other annual growth rates of Ml, M2 and M3 were revised by no more than .1 percentage point for any year.

The benchmark incorporates a change in the type of data used to measure large time deposits held by commercial banks. Reports from issuing banks regarding bank holders of their CDs had previously been used; reports from banks of CDs they hold are now used, as they have been found to be more accurate. (This item is one of several that are subtracted from gross large time deposits to measure the quantity of such time deposits held by the nonbank public.) As a result of the change, this netting item revised upward by as much as $12 billion over the past seven years, thereby reducing the level of M3 by the same amount, but causing little revision to the annual growth rates of M3.

The benchmark also incorporates corrections for the previous misreporting by banks of some brokered time deposits. Initially, these deposits had been misclassified as large time deposits, rather than as small time deposits. In last year's benchmark, this misclassification was corrected for data reported by several large banks in 1990 and 1991. In this year's benchmark, the misclassification was corrected for a large number of additional banks, for data reported over the past nine years. The reclassification of these deposits, which amounted to as much as $6 billion in 1988, boosted the level of M2 but left M3 unaffected.

The benchmark also folded in historical data for several money market mutual funds that began reporting for the first time during 1992, raising the level of M3 by almost $9 billion in late 1992. Numerous other, smaller revisions were also made to the aggregates.

Seasonal factors for the monetary aggregates have been revised using the X-ll ARIMA procedure applied to data through preliminary estimates for January 1993. The seasonal adjustment procedure used this year is identical to that of last year. The revisions to seasonal factors redistributed some growth in each of the aggregates from the first and fourth quarters to the second and third quarters of 1992.

The historical data are available on floppy diskette for a fee of $25 per diskette from the Federal Reserve Board's Publications Section, Mail Stop 138, Board of Governors of the Federal Reserve System, Washington, D.C. 20551, (202) 452-3245. Historical monthly data for Ml, M2, M3, and nonfinancial debt are also available from the Economic Bulletin Board of the U.S. Commerce Department. Call (202) 482-1986 for information on how to access the Commerce bulletin board.

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

TABLE 1 MONEY STOCK MEASURES AND LIQUID ASSETS

BILLIONS OF DOLLARS

1959 JAN FEB MAR APR MAY JUN JUL AUO SEP OCT NOV DEC


1961 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

CURRENCY, TRAVELERS CHKS, DEMAND DEPS AND OTHER

CHECKABLE DEPS 138.9 139.4 139.7 139.7 140.7 141.2 141.7 141.9 141.0 140.5 140.4 140.0 140.0 139.9 139.8 139.6 139.6 139.6 140.2 141.3 141.2 140.9 140.9 140.7 141.1 141.6 141.9 142.1 142.7 142.9 142.9 143.5 143.8 144.1 144.8 145.2

Ml+OVER-NIGHT RP'S,

EURO$, G/P&B/D MMMFS MMDAS, SAV & SM. TIME DEP

286.7 287.8 289.1 290.1 292.3 293.9 295.3 296.4 296.5 296.6 297.2 297.8 298.3 298.5 299.2 300.1 301.0 302.2 304.2 306.8 308.2 309.6 311.0 312.3 314.2 316.6 318.1 319.9 322.3 324.1 325.7 327.6 329.3 331.2 333.5 335.5

M2 -l- LARGE TIME DEP, TERM RP'S, EURO$ AND INSTITUTION ONLY MMMFS

289.0 290.1 291.3 292.3 294.5 296.1 297.4 298.5 298.5 298.6 299.2 299.8 300.3 300.5 301.3 302.2 303.0 304.3 306.4 309.2 310.7 312.2 313.8 315.3 317.3 320.0 321.7 323.8 326.5 328.7 330.6 332.6 334.5 336.6 339.0 341.0

M3+OTHER LIQUID ASSETS 374.4 374.8 376.2 377.6 380.6 383.1 385.7 387.7 388.1 388.4 389.0 388.6 389.9 390.7 391.6 392.3 392.7 394.3 396.4 398.2 400.2 401.5 402.5 403.6 406.0 408.2 409.7 411.9 414.6 416.5 418.8 420.6 422.4 425.1 428.1 430.8


CHECKABLE DEPS 142.2 139.3 138.4 139.7 138.7 139.4 140.3 140.0 140.3 140.7 141.8 143.6 143.3 139.8 138.5 139.7 137.6 137.9 138.9 139.4 140.5 141.2 142.3 144.5 144.5 141.6 140.6 142.4 140.6 141.2 141.5 141.4 143 ol 144.4 146.3 149.2

Ml+OVER-NIGHT RP'S,


289.8 287.7 287.9 290.2 290.2 292.5 294.4 294.8 296.1 296.9 297.8 300.6 301.5 298.5 298.2 300.3 298.9 300.9 303.5 305.2 307.8 309.9 311.7 315.3 317.5 316.6 317.2 320.2 320.1 322.8 324.9 325.8 328.8 331.5 334.1 338.5

M2 -I- LARGE TIME DEP, TERM RP'S, EURO$ AND INSTITUTION ONLY MMMFS

292.0 289.9 290.1 292.4 292.5 294.8 296.7 297.0 298.2 298.9 299.7 302.5 303.4 300.4 300.2 302.4 301.0 303.1 305.8 307.7 310.4 312.5 314.3 318.0 320.5 319.9 320.8 324.2 324.5 327.5 330.0 331.0 334.0 336.7 339.3 343.7




BILLIONS OF DOLLARS




CURRENCY, TRAVELERS CHKS,

DEMAND DEPS AND OTHER

CHECKABLE DEPS 145.2 145.7 146.0 146.4 146.8 146.6 146.5 146.6 146.3 146.7 147.3 147.8 148.3 148.9 149.2 149.7 150.4 150.4 151.4 151.8 152.0 152.6 153.6 153.3 153.7 154.3 154.5 154.8 155.3 155.6 156.8 157.8 158.7 159.2 160.0 160.3

Ml+OVER-NIGHT RP'S,


337.6 340.2 342.9 345.6 347.5 349.1 350.9 352.8 354.6 357.3 359.9 362.7 365.4 368.0 370.5 373.3 376.1 378.2 381.2 383.6 385.7 388.4 391.6 393.2 395.5 397.7 399.6 401.8 404.3 406.8 410.2 413.4 416.6 419.2 422.2 424.8

M2 -l- LARGE TIME DEP,

TERM RP'S, EURO$ AND INSTITUTION ONLY MMMFS

343.2 346.2 349.3 352.1 354.2 356.1 358.0 360.1 362.2 365.2 368.1 371.4 374.4 377.2 380.1 383.1 386.2 388.5 391.6 394.5 397.0 400.1 403.9 406.0 408.8 411.4 413.4 415.8 418.9 421.8 425.5 429.1 432.7 436.1 439.5 442.5




CHECKABLE DEPS 148.9 145.6 144.6 146.7 144.5 144.8 145.0 144.4 145.5 147.0 148.8 151.9 152.1 148.7 147.8 150.0 147.9 148.7 149.9 149.5 151.0 152.8 155.2 157.6 157.9 153.9 153.1 155.2 152.7 153.9 155.5 155.5 157.8 159.7 161.6 164.9

Ml+OVER-NIGHT RP'S,


341.1 340.3 342.1 346.0 345.0 347.7 350.1 350.9 353.9 357.6 360.5 365.8 369.1 368.0 369.8 373.8 373.3 376.8 380.2 381.4 384.9 388.8 392.3 396.5 399.6 397.6 398.9 402.4 401.3 405.4 409.3 411.1 415.7 419.9 422.9 428.4

M2 + LARGE TIME DEP, TERM RP'S, EURO$ AND INSTITUTION ONLY MMMFS

346.5 346.2 348.4 352.7 352.0 355.0 357.4 358.3 361.5 365.3 368.3 374.0 377.9 377.2 379.4 383.9 383.9 387.4 390.9 392.5 396.1 400.1 404.0 408.7 412.6 411.3 412.9 416.8 416.4 420.8 424.9 427.0 431.7 436.2 439.6 445.5




BILLIONS OF DOLLARS




Ml CURRENCY,

TRAVELERS CHKS, DEMAND DEPS AND OTHER

CHECKABLE DEPS 160.7 160.9 161.5 162.0 161.7 162.2 163.0 163.7 164.9 166.0 166.7 167.9 169.1 169.6 170.5 171.8 171.3 171.6 170.3 170.8 172.0 171.2 171.4 172.0 171.9 173.0 174.8 174.2 175.7 177.0 178.1 179.7 180.7 181.7 182.4 183.3

M2 Ml OVER

NIGHT RP'S, EURO$,

G/P&B/D MMMFS MMDAS, SAV & SM. TIME DEP

427.8 430.4 433.0 435.5 437.1 439.8 442.9 445.7 449.2 452.8 456.0 459.3 462.4 464.5 466.9 469.4 470.0 470.9 470.9 472.6 475.3 476.0 477.5 480.0 481.9 484.9 489.3 492.2 497.1 501.9 506.5 511.0 514.7 518.5 521.1 524.3

M3 M2 + LARGE TIME DEP, TERM RP'S, EURO$ AND INSTITUTION ONLY MMMFS

446.1 449.0 451.8 454.6 456.4 459.6 463.3 466.6 470.7 475.2 478.6 482.2 485.5 487.7 490.6 494.1 495.4 496.9 497.8 499.6 502.1 501.9 502.1 505.1 509.4 514.3 519.5 522.5 527.7 533.0 537.8 542.9 547.0 550.8 553.8 557.1


Ml CURRENCY,


CHECKABLE DEPS 165.3 160.3 159.9 162.5 158.7 160.6 161.8 161.2 164.0 166.5 168.3 172.7 173.8 168.6 168.7 172.4 168.0 170.0 169.2 168.3 171.1 171.6 172.9 176.9 176.6 171.6 172.9 174.8 172.3 175.6 177.2 177.2 179.8 181.9 183.8 188.4

M2 Ml .OVER

NIGHT RP'S, EURO$,


432.4 430.1 432.2 436.2 433.7 438.4 442.1 443.3 448.4 453.6 456.7 463.1 467.1 463.7 465.9 470.1 466.2 469.6 470.3 470.2 474.6 476.9 478.1 483.7 486.4 483.6 488.1 492.9 493.3 500.9 506.2 508.6 514.2 519.3 521.7 528.0

M3 M2 + LARGE TIME DEP, TERM RP'S, BURO$ AND INSTITUTION ONLY MMMFS

450.5 448.8 451.2 455.7 453.6 458.5 462.6 464.5 469.8 475.4 478.7 485.5 490.1 487.1 489.8 495.3 492.2 495.7 497.2 497.5 501.2 502.0 502.5 508.6 513.7 513.0 518.6 523.8 524.5 532.0 537.3 540.8 546.2 550.8 554.1 560.8

L




BILLIONS OF DOLLARS





CHECKABLE DEPS 184.0 184.7 185.5 186.6 188.0 189.4 190.5 191.8 192.7 194.0 196.0 197.4 198.7 199.3 200.0 200.7 200.8 201.3 201.7 201.7 202.1 202.9 203.6 203.9 206.4 205.0 205.8 206.7 207.2 207.5 208.0 209.9 211.8 212.8 213.6 214.4

Ml+OVER-NIGHT RP'S,


527.3 530.1 532.7 535.8 538.9 542.5 545.9 549.8 553.7 558.0 562.2 566.3 569.3 571.6 573.9 576.0 576.6 578.4 579.8 580.5 582.3 583.8 586.9 589.5 591.4 588.4 589.2 590.9 593.9 597.1 600.3 606.0 612.3 617.5 622.2 628.0

M2 + LARGE TIME DEP, TERM RP'S, EURO$ AND INSTITUTION ONLY MMMFS

560.3 563.4 566.4 569.0 572.2 575.8 580.9 586.4 590.9 596.5 601.4 606.2 608.1 608.8 610.0 611.4 611.5 612.1 610.5 608.6 608.9 609.5 613.0 615.0 615.4 613.1 615.4 620.6 624.6 627.2 635.6 644.8 654.3 662.2 669.2 677.3



CHECKABLE DEPS 188.9 183.0 183.5 187.3 184.6 188.2 189.8 189.5 191.9 194.2 197.6 202.8 203.8 197.3 197.8 201.5 197.4 200.2 201.2 199.5 201.2 202.9 205.0 209.4 210.8 202.1 203.6 208.1 204.3 206.9 208.1 208.0 210.8 212.3 214.6 220.1

- H U T SBAaVNALiljX

Ml+OVER-NIGHT RP'S,


531.6 528.1 531.6 536.9 535.4 542.2 546.2 547.6 553.1 558.5 562.5 569.7 573.5 569.1 572.8 577.4 573.5 578.7 580.6 578.5 581.4 583.7 586.7 592.4 593.8 585.5 589.5 594.8 593.0 599.4 602.6 604.3 609.9 615.2 619.6 629.2

M2 + LARGE TIME DEP,


564.4 561.4 565.5 570.5 569.3 575.4 580.7 584.5 590.2 596.4 601.9 610.1 612.1 606.2 609.0 613.2 608.9 612.0 610.7 606.6 608.0 609.3 613.0 618.2 618.3 610.3 615.7 624.2 623.8 629.0 637.1 643.6 652.7 660.5 666.4 678.2




BILLIONS OF DOLLARS




Ml CURRENCY,

TRAVELERS CHRS, DEMAND DSPS AND OTHER

CHECKABLE DBPS 215.7 217.4 218.8 220.0 222.0 223.5 224.9 225.6 226.5 227.2 227.8 228.3 230.3 232.3 234.3 235.5 235.9 236.7 238.7 240.9 243.1 245.0 246.4 249.2 251.7 252.1 251.6 252.6 254.9 256.7 257.5 257.8 257.8 259.0 261.0 262.8

M2 Ml+OVER-

NIGHT RP'S, EURO$,

G/P&B/D MMMFS MMDAS, SAV & SM. TIME DBP

634.3 642.4 651.2 661.0 669.1 674.7 681.2 687.4 694.3 700.3 706.8 712.6 719.9 727.9 735.7 741.6 746.3 752.6 762.3 771.8 780.8 789.4 796.6 805.1 813.7 817.7 818.7 823.5 830.6 837.2 841.2 843.6 844.5 848.4 854.4 860.9

M3 M2 + LARGE TIME DBP, TERM RP'S, EURO$ AND INSTITUTION ONLY MMMFS

685.2 695.8 706.1 715.0 723.5 730.2 738.1 744.0 751.6 760.0 768.3 776.1 783.4 792.8 800.2 808.9 816.3 824.7 835.4 846.6 856.2 865.6 875.6 886.0 895.8 906.0 914.7 923.1 932.5 940.8 950.3 959.0 965.8 972.0 977.5 984.9

- - - * - - -


Ml CURRENCY,


CHECKABLE DBPS 220.3 214.3 216.4 221.4 218.8 222.8 225.1 223.6 225.4 226.6 228.8 234.5 235.0 228.9 231.7 236.9 232.2 236.2 239.1 238.7 241.9 244.2 247.7 256.2 256.4 248.4 248.8 254.0 250.8 256.4 258.1 255.6 256.5 258.3 262.7 270.2

M2 Ml+OVER-

NIGHT RP'S, EURO$,


636.7 639.4 651.5 665.3 668.2 677.6 684.2 685.6 691.6 697.7 703.8 713.5 721.9 724.5 736.2 746.4 745.2 756.1 766.0 770.1 777.8 786.3 793.3 806.0 815.3 813.8 819.1 828.8 829.3 841.2 845.5 842.3 841.3 845.2 851.3 861.9

M3 M2 + LARGE TIME DEP,

TERM RP'S, BURO$ AND INSTITUTION ONLY MMMFS

688.4 692.7 706.3 718.9 722.7 732.1 739.8 743.1 750.0 758.3 764.9 776.6 786.1 789.2 800.5 813.1 815.4 827.1 837.8 846.1 854.7 863.6 871.9 886.2 897.8 901.7 914.6 927.8 931.6 943.5 953.2 959.5 965.0 970.2 973.8 985.2

- - - - -

M3+OTHER LIQUID ASSETS 826.0 829.0 839.9 850.3 851.7 859.7 868.9 873.7 878.9 885.9 892.4 903.5 913.6 918.4 931.0 943.2 945.4 956.4 966.3 975.7 984.8 995.7

1007.9 1023.6 1036.3 1042.4 1056.1 1070.0 1075.5 1088.5 1099.1 1108.0 1115.5 1124.5 1131.8 1143.5



BILLIONS OF DOLLARS




Ml


CHECKABLE DEPS 264.0 265.3 266.7 267.1 267.5 268.5 269.4 270.0 271.1 272.4 273.7 274.3 273.9 274.7 276.6 276.0 278.8 282.6 283.3 284.6 285.6 285.0 287.7 287.5 288.6 290.9 292.3 294.0 296.0 295.9 297.0 298.9 299.5 302.7 303.5 306.3

M2 Ml+OVER-

NIGHT RP'S, EURO$,


865.6 870.3 876.4 879.2 881.5 884.7 888.3 891.0 895.1 900.1 905.4 908.4 912.2 920.1 931.3 941.3 954.3 969.3 981.3 989.6 998.4 1004.6 1014.8 1023.1 1033.8 1047.7 1056.9 1068.1 1081.9 1086.2 1095.5 1108.8 1120.8 1136.0 1148.6 1163.5



993.1 1002.5 1010.7 1020.9 1029.5 1037.8 1044.2 1048.4 1053.2 1058.9 1064.2 1070.3 1075.5 1082.7 1090.3 1095.9 1106.4 1118.7 1128.2 1134.8 1145.7 1153.5 1164.9 1172.1 1182.0 1193.9 1204.3 1216.4 1229.0 1236.0 1246.2 1258.6 1268.3 1281.9 1294.8 1311.6

. . . . . . . . . . . .


Ml CURRENCY,


CHECKABLE DEPS 268.6 261.1 263.5 268.5 263.3 268.3 270.2 268.0 269.7 271.7 275.7 281.9 278.4 269.9 272.9 277.7 274.4 282.3 284.3 282.7 284.3 284.9 289.9 295.4 293.1 285.3 287.7 296.1 291.3 295.6 298.4 297.1 298.6 303.0 305.7 314.5

M2 Ml+OVER-

NIGHT RP'S, EURO$,


866.8 865.8 876.4 884.8 880.0 888.8 893.0 890.1 892.0 897.2 902.6 909.6 913.4 914.9 930.5 947.4 952.7 973.2 986.2 988.9 995.7

1002.4 1011.9 1024.2 1034.8 1041.4 1055.2 1074.9 1080.0 1089.7 1100.6 1108.1 1118.7 1134.8 1145.7 1164.8



994.6 997.2 1010.0 1025.6 1028.4 1040.3 1047.4 1049.6 1052.8 1057.4 1060.7 1071.1 1076.9 1076.4 1088.9 1101.0 1105.1 1121.4 1132.0 1135.7 1144.7 1152.0 1161.9 1173.7 1183.3 1187.1 1202.4 1222.0 1227.0 1238.3 1250.3 1258.9 1267.2 1280.9 1292.3 1314.1




BILLIONS OF DOLLARS





CHECKABLE DSPS

309.1 311.5 313.5 315.9 316.6 318.1 320.4 322.1 324.2 327.3 329.1 331.1 334.8 335.3 336.9 340.2 343.6 345.6 347.6 349.3 353.1 354.2 355.9 358.2 358.7 359.9 362.6 367.9 367.8 372.6 376.5 378.5 380.9 381.7 381.8 382.5

Ml+OVER-NIGHT RP'S,


1176.9 1188.2 1199.3 1210.9 1221.6 1230.0 1241.0 1250.1 1260.2 1270.0 1278.1 1286.4 1296.0 1301.0 1308.4 1316.8 1326.0 1333.2 1341.7 1349.8 1363.2 1372.6 1379.3 1388.5 1395.0 1401.3 1411.9 1426.1 1433.8 1448.2 1460.5 1470.7 1482.5 1488.3 1490.1 1496.4

M2 + LARGE TIME DEP# TERM RP'S, BURO$ AND INSTITUTION ONLY MMMFS

1323.6 1335.6 1348.1 1360.6 1374.7 1387.2 1401.6 1414.3 1428.0 1443.3 1458.0 1472.3 1487.1 1498.0 1513.0 1528.1 1543.6 1554.4 1568.3 1581.9 1597.3 1611.9 1629.9 1646.2 1657.9 1669.5 1683.4 1698.8 1708.6 1725.7 1742.7 1758.9 1780.3 1793.0 1794.3 1802.6

M3+OTHER LIQUID ASSETS

1529.9 1545.7 1560.1 1575.5 1590.3 1605.1 1621.3 1637.7 1652.7 1669.4 1687.6 1705.0 1722.8 1735.8 1750.7 1767.8 1784.0 1796.1 1811.9 1828.1 1846.8 1864.5 1887.3 1910.3 1924.5 1939.6 1960.8 1983.8 1999.8 2027.5 2046.0 2062.9 2088.1 2102.9 2105.1 2115.6


CHECKABLE DEPS

313.5 304.9 308.2 318.6 311.6 317.7 322.2 320.2 323.6 327.9 331.4 340.0 339.2 327.8 330.9 343.3 338.3 345.1 349.5 347.5 352.7 354.9 358.5 368.0 363.2 351.8 356.1 371.4 362.3 371.9 378.3 376.9 380.5 382.5 384.6 393.1

Ml+OVER-NIGHT RP'S,


1177.9 1180.8 1196.8 1218.2 1218.9 1232.8 1246.2 1249.5 1259.0 1270.2 1275.8 1288.8 1297.5 1292.5 1304.8 1323.9 1322.1 1334.9 1346.8 1349.4 1362.6 1373.7 1378.0 1392.5 1397.0 1392.1 1407.5 1432.7 1428.8 1448.8 1465.3 1470.6 1482.3 1490.1 1490.0 1501.8



1325.0 1328.1 1345.7 1366.6 1371.7 1388.6 1405.6 1414.4 1427.2 1443.2 1456.7 1476.7 1489.1 1490.0 1510.0 1533.3 1538.9 1553.9 1571.5 1582.2 1597.2 1612.8 1630.7 1652.7 1660.4 1661.4 1679.8 1702.9 1702.7 1723.4 1744.9 1759.6 1780.9 1795.1 1796.8 1810.4


1532.8 1539.6 1559.2 1582.8 1587.8 1604.6 1623.6 1635.6 1649.9 1669.0 1687.1 1709.7 1726.6 1729.4 1749.4 1774.5 1780.5 1794.4 1813.6 1825.7 1844.3 1864.4 1888.3 1916.4 1929.0 1933.8 1959.4 1989.7 1995.8 2024.6 2046.3 2059.8 2085.4 2103.3 2107.4 2122.8



BILLIONS OF DOLLARS

1 9 8 0 JAN FEB MAR APR MAY JUN JUL AUO SEP OCT NOV DEC

1 9 8 1 JAN FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC


CURRENCY/ TRAVELERS CHKS,

DEMAND DSPS AND OTHER

CHECKABLE DEPS

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

Ml+OVER-NIGHT R P ' S ,

EURO$, G/P&B/D MMMFS

MMDAS, SAV & SM. TIME DEP

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


TERM R P ' S , EURO$ AND

INSTITUTION ONLY MMMFS

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


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



CHECKABLE DEPS

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

- M U X OBA&VDiALiU I

Ml+OVER-NIGHT R P ' S ,

EURO$, G/P&B/D MMMFS

MMDAS, SAV & SM. TIME DEP

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


TERM R P ' S , EURO$ AND

INSTITUTION ONLY MMMFS

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


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



BILLIONS OF DOLLARS




Ml CURRENCY,


CHECKABLE DSPS 477.8 483.6 489.8 493.8 499.5 503.2 508.0 510.4 512.6 518.0 519.4 521.2 525.2 527.1 530.8 534.1 536.5 540.2 540.8 540.8 544.1 543.9 547.4 552.4 556.2 562.8 566.6 570.0 575.2 583.2 589.1 596.5 604.0 607.7 612.6 620.1

M2 Ml+OVER-

NIGHT RP'S, BURO$,

G/P&B/D MMMFS MMDAS, SAV & SM. TIME DBP

2007.8 2044.9 2064.5 2080.4 2096.3 2109.6 2122.1 2130.9 2143.2 2164.0 2176.3 2186.5 2201.3 2220.8 2235.6 2250.7 2265.6 2278.5 2288.5 2298.1 2313.8 2326.7 2350.9 2376.0 2401.5 2426.0 2436.4 2438.6 2455.0 2482.5 2499.2 2516.5 2531.9 2542.0 2555.1 2572.4


TERM RP'S, EURO$ AND INSTITUTION ONLY MMMFS 2474.0 2502.5 2522.0 2540.8 2556.4 2576.7 2591.1 2606.5 2624.6 2643.0 2672.7 2693.1 2712.5 2740.1 2767.1 2793.3 2820.3 2842.9 2866.2 2881.8 2902.3 2926.9 2957.5 2988.2 3011.9 3033.9 3048.1 3053.1 3070.5 3097.3 3109.8 3128.3 3149.3 3163.6 3181.3 3203.6


Ml CURRENCY,


CHECKABLE DEPS 482.8 474.1 482.7 498.5 493.9 503.5 510.5 508.3 511.3 517.1 521.9 533.2 530.2 516.9 523.3 539.0 530.7 541.4 543.4 539.0 542.5 542.2 549.8 564.6 561.2 551.9 558.4 575.1 569.4 585.2 592.1 595.0 602.1 605.4 615.1 633.5

M2 Ml+OVER-

NIGHT RP'S, EURO$,


2012.8 2036.4 2061.4 2087.4 2089.2 2109.5 2126.5 2128.9 2138.6 2163.1 2177.4 2194.9 2208.2 2212.2 2232.4 2257.8 2257.4 2278.6 2292.7 2295.9 2308.1 2325.1 2352.1 2384.9 2409.8 2417.3 2432.7 2445.8 2446.0 2482.6 2503.8 2514.5 2525.7 2540.0 2556.7 2582.6



- - - - -




BILLIONS OF DOLLARS





CHECKABLE DEPS 620.9 624.7 633.7 641.0 652.6 660.9 670.2 679.8 687.4 695.0 706.5 724.5 730.2 730.5 733.6 743.6 747.4 742.8 742.9 746.0 748.1 756.8 753.7 750.0 757.6 757.9 761.8 768.9 772.7 778.6 783.1 783.7 783.9 784.9 785.6 787.1

Ml+OVER-NIGHT RP'S,


2577.6 2588.3 2607.8 2632.6 2659.2 2681.1 2708.1 2730.7 2750.3 2774.2 2790.1 2816.0 2835.0 2835.8 2839.7 2852.2 2856.8 2860.0 2866.1 2880.0 2895.4 2911.2 2913.6 2917.2 2941.7 2960.5 2978.2 3000.2 3017.5 3031.2 3039.2 3043.1 3046.3 3055.2 3070.6 3078.3





CHECKABLE DEPS 626.8 613.0 624.4 647.2 645.8 663.0 673.6 678.6 684.7 692.4 709.0 740.1 737.4 717.4 723.4 752.2 739.6 744.1 746.4 744.6 745.0 753.7 756.0 765.9 764.8 745.1 752.2 778.6 764.1 779.2 786.2 781.6 780.3 781.5 787.5 803.8

Ml+OVER-NIGHT RP'S,


2588.1 2578.8 2602.9 2640.6 2648.1 2680.4 2713.1 2729.4 2743.8 2772.0 2792.2 2828.3 2847.1 2824.9 2833.9 2862.8 2843.6 2857.7 2871.1 2879.3 2889.0 2908.6 2915.9 2929.3 2953.2 2950.0 2973.9 3012.5 3002.7 3027.5 3043.5 3042.2 3039.7 3052.2 3072.6 3090.3



M3 +OTHER LIQUID ASSETS 3867.2 3870.3 3898.1 3925.1 3935.7 3969.4 3998.6 4024.8 4052.9 4077.5 4107.4 4146.9 4176.5 4166.0 4167.3 4184.1 4194.9 4224.5 4224.0 4252.4 4283.6 4319.0 4341.7 4349.0 4387.1 4395.0 4425.5 4470.4 4485.0 4514.4 4551.3 4573.7 4582.8 4607.0 4645.5 4686.1


TABLB 1 MONEY STOCK MEASURES AND LIQUID ASSETS

BILLIONS OF DOLLARS




Ml



CHECKABLE DEPS

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

M2 Ml+OVER-

NIGHT R P ' S , EURO$,

G/P&B/D MMMFS MMDAS, SAV

& SM. TIME DEP

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

M3 M2 -I- LARGE

TIME DEP, TERM R P ' S ,

BURO$ AND INSTITUTION ONLY MMMFS

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

L


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

M l .



CHECKABLE DEPS

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

- -MUX DfiAOUHAJjii I

M2 Ml+OVER-

NIGHT R P ' S , EURO$,

G/P&B/D MMMFS MMDAS, SAV

& SM. TIME DEP

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

M3 M2 -l- LARGE

TIME DEP, TERM R P ' S ,

EURO$ AND INSTITUTION ONLY MMMFS

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

L


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



BILLIONS OF DOLLARS SEASONALLY ADJUSTED

Ml M 2 M3 L Ml+OVER- M2 + LARGE

CURRENCY, NIGHT RP'S, TIME DEP, TRAVELERS CHKS, EURO$, TERM RP'S, DEMAND DEPS G/P&B/D MMMFS EURO$ AND M3+OTHER AND OTHER MMDAS, SAV INSTITUTION LIQUID

CHECKABLE DEPS & SM. TIME DEP ONLY MMMFS ASSETS 1992 JAN

FEB MAR APR MAY JUN JUL AUG SEP OCT NOV DEC

911.5 926.2 935.1 941.2 952.2 952.6 963.3 975.5 990.1

1005.9 1019.1 1026.6

3451.0 3467.7 3469.5 3468.3 3470.9 3465.4 3467.0 3475.8 3483.6 3496.9 3505.6 3503.5

4172.2 4189.0 4186.6 4181.4 4183.1 4173.4 4172.3 4182.1 4186.2 4186.2 4188.4 4173.5

4978.3 4999.0 5011.8 5012.5 5014.4 5018.1 5015.9 5028.8 5040.3 5048.5 5065.0 5059.2

NOT SEASONALLY ADJUSTED Ml M2 M3 L

Ml+OVER- M2 -l- LARGE CURRENCY, NIGHT RP'S, TIME DEP,

TRAVELERS CHKS, EURO$, TERM RP'S, DEMAND DEPS G/P&B/D MMMFS EURO$ AND M3+OTHER AND OTHER MMDAS, SAV INSTITUTION LIQUID

CHECKABLE DEPS & SM. TIME DEP ONLY MMMFS ASSETS 917.3 916.0 930.5 954.7 943.9 951.9 962.5 970.4 982.8

1000.9 1021.5 1045.8

3456.0 3462.3 3476.5 3490.0 3455.9 3460.5 3464.4 3470.3 3471.2 3491.1 3508.4 3517.7

4174.1 4186.5 4196.8 4198.5 4170.4 4168.3 4166.9 4181.9 4174.7 4176.2 4193.7 4185.6

4993.2 4999.6 5025.1 5028.4 4991.3 5005.2 4999.7 5018.8 5029.7 5037.7 5077.9 5084.0


TABLE 2 COMPONENTS OF MONEY STOCK MEASURES

SEASONALLY ADJUSTED, BILLIONS OF DOLLARS

OTHER CHECKABLE DEPOSITS NONBANK OCD'S OCD'S M2 M3 TRAVELERS DEMAND AT AT TOTAL LESS LESS

CURRENCY CHECKS DEPOSITS BANKS THRIFTS OCDS Ml M2 1959 JAN




28.5 28.6 28.6 28.6 28.7 28.9 28.8 28.9 28.9 28.8 28.8 28.8 28.8 28.8 28.8 28.8 28.8 28.8 28.7 28.7 28.8 28.8 28.8 28.7 28.7 28.7 28.7 28.7 28.7 28.7 28.8 28.9 29.0 29.1 29.2 29.3

0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.4 0.4

110.0 110.5 110.8 110.7 111.6 111.9 112.5 112.7 111.8 111.3 111.3 110.8 110.9 110.7 110.6 110.4 110.5 110.5 111.1 112.2 112.1 111.8 111.7 111.6 112.0 112.5 112.8 113.1 113.6 113.8 113.8 114.2 114.4 114.6 115.2 115.5

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

147.8 148.4 149.3 150.5 151.6 152.7 153.6 154.5 155.5 156.1 156.8 157.8 158.3 158.7 159.5 160.5 161.4 162.6 164.0 165.5 167.0 168.7 170.1 171.6 173.1 175.0 176.3 177.8 179.6 181.2 182.8 184.1 185.5 187.1 188.7 190.3

2.3 2.3 2.3 2.2 2.2 2.2 2.1 2.1 2.0 2.0 2.0 2.0 2.0 2.0 2.0 2.1 2.1 2.1 2.2 2.4 2.5 2.7 2.8 2.9 3.1 3.4 3.6 3.9 4.2 4.5 4.9 5.1 5.2 5.4 5.5 5.6






FEB MAR APR MAY JUN JUL AUO SEP OCT NOV DEC



29*4 29.5 29.6 29.8 29.8 29.8 29.9 30.0 30.0 30.1 30.2 30.3 30.4 30.6 30.7 31.0 31.0 31.2 31.4 31.5 31.7 31.8 32.0 32.2 32.3 32.4 32.6 32.7 32.9 33.2 33.2 33.4 33.6 33.6 33.8 33.9

0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5

115.4 115.8 116.0 116.3 116.7 116.4 116.1 116.2 115.9 116.2 116.7 117.1 117.4 117.8 118.0 118.3 118.9 118.7 119.5 119.8 119.8 120.3 121.1 120.6 121.0 121.4 121.4 121.5 121.9 121.9 123.0 123.9 124.6 125.1 125.6 125.8

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1

192.4 194.6 197.0 199.2 200.7 202.5 204.5 206.3 208.3 210.5 212.6 214.8 217.1 219.1 221.3 223.6 225.7 227.8 229.8 231.9 233.8 235.8 238.0 239.9 241.7 243.4 245.1 247.0 248.9 251.2 253.4 255.6 257.8 260.0 262.3 264.5

5.6 6.0 6.3 6.5 6.7 7.0 7.1 7.2 7.6 7.9 8.2 8.8 9.1 9.3 9.6 9.8

10.1 10.2 10.4 10.8 11.3 11.7 12.3 12.8 13.3 13.7 13.8 14.1 14.6 15.0 15.4 15.7 16.1 16.8 17.3 17.7









34.0 34.2 34.3 34.4 34.5 34.7 34.9 35.1 35.3 35.6 35.8 36.0 36.2 36.4 36.5 36.7 37.0 37.0 37.2 37.4 37.5 37.7 37.8 38.0 38.2 38.4 38.5 38.6 38.8 38.9 39.0 39.2 39.4 39.6 39.7 40.0

0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6 0.6

126.1 126.1 126.6 127.0 126.6 126.9 127.6 128.0 128.9 129.8 130.3 131.3 132.2 132.6 133.3 134.4 133.7 133.9 132.4 132.7 133.8 132.9 132.9 133.4 133.0 133.9 135.6 134.9 136.2 137.4 138.4 139.8 140.6 141.3 142.0 142.5

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1

0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1

267.1 269.5 271.5 273.5 275.4 277.6 279.8 282.0 284.3 286.8 289.3 291.5 293.3 294.9 296.4 297.6 298.6 299.4 300.6 301.8 303.3 304.8 306.1 308.0 310.0 311.9 314.5 318.0 321.4 324.9 328.4 331.3 334.1 336.9 338.8 341.1

18.3 18.6 18.8 19.0 19.3 19.8 20.4 21.0 21.5 22.4 22.6 22.9 23.2 23.2 23.7 24.8 25.4 26.0 26.9 27.0 26.8 25.8 24.7 25.1 27.5 29.3 30.2 30.3 30.6 31.1 31.3 31.9 32.2 32.3 32.6 32.7









40.2 40.3 40.6 40.9 41.0 41.4 41.6 41.8 42.2 42.4 42.7 43.0 43.1 43.4 43.6 43.8 43.9 44.2 44.5 44.7 44.9 45.2 45.5 45.7 45.9 46.1 46.3 46.4 46.9 47.2 47.4 47.6 47.9 48.1 48.3 48.6

0.6 0.6 0.6 0.6 0.6 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.7 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.8 0.9 0.9 0.9 0.9

143.1 143.6 144.2 144.9 146.2 147.3 148.1 149.2 149.7 150.9 152.5 153.6 154.7 155.1 155.5 156.1 156.0 156.2 156.3 156.2 156.3 156.8 157.2 157.3 159.5 158.0 158.5 159.3 159.4 159.4 159.6 161.3 162.9 163.8 164.3 164.7

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1

0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.2 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1

343.3 345.4 347.2 349.2 350.9 353.1 355.4 358.0 361.0 364.0 366.1 368.9 370.7 372.2 373.9 375.2 375.8 377.1 378.1 378.8 380.2 380.9 383.3 385.6 385.0 383.3 383.4 384.2 386.7 389.5 392.3 396.1 400.5 404.7 408.6 413.6

33.1 33.3 33.7 33.2 33.3 33.3 35.0 36.6 37.2 38.6 39.2 39.9 38.8 37.2 36.1 35.4 35.0 33.6 30.7 28.0 26.7 25.7 26.1 25.5 24.0 24.7 26.3 29.7 30.7 30.2 35.3 38.8 42.0 44.6 46.9 49.3









48.9 49.2 49.4 49.7 50.0 50.4 50.9 51.2 51.4 51.7 51.8 52.0 52.3 52.7 53.0 53.1 53.4 53.7 54.0 54.3 54.8 55.3 55.7 56.2 56.6 56.8 57.2 57.7 58.1 58.5 58.8 59.1 59.6 59.9 60.2 60.8

0.9 0.9 0.9 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.0 1.1 1.1 1.1 1.1 1.1 1.1 1.1 1.2 1.2 1.2 1.2 1.2 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.3 1.4 1.4 1.4

165.8 167.1 168.2 169.1 170.9 171.9 172.8 173.2 173.8 174.3 174.7 175.1 176.8 178.4 180.0 181.1 181.1 181.7 183.4 185.2 187.0 188.3 189.2 191.6 193.6 193.8 192.9 193.3 195.2 196.6 197.1 197.0 196.6 197.4 199.0 200.3

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.1 0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3

0.1 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3 0.3

418.6 425.0 432.4 441.0 447.1 451.3 456.4 461.7 467.8 473.1 479.0 484.3 489.6 495.6 501.4 506.2 510.5 516.0 523.6 530.9 537.7 544.5 550.2 555.9 562.0 565.6 567.1 570.9 575.8 580.5 583.6 585.8 586.7 589.4 593.5 598.1

50.9 53.4 54.9 54.0 54.4 55.4 56.9 56.7 57.3 59.7 61.5 63.5 63.5 64.9 64.5 67.2 70.0 72.1 73.1 74.8 75.4 76.2 79.0 80.9 82.1 88.4 96.0 99.6 101.9 103.6 109.2 115.4 121.3 123.5 123.1 124.0









61.3 61.8 62.3 62.9 63.4 63.7 64.1 64.7 65.2 65.9 66.5 67.0 67.4 67.8 68.4 68.5 69.1 70.1 70.6 71.0 71.3 71.7 72.4 72.8 73.2 73.9 74.7 75.4 76.1 76.6 77.1 77.6 78.1 78.6 79.1 79.5

1.4 1.5 1.5 1.5 1.5 1.5 1.6 1.6 1.7 1.7 1.7 1.7 1.8 1.8 1.8 1.9 1.9 2.0 2.0 2.0 2.0 2.1 2.1 2.1 2.2 2.2 2.2 2.3 2.4 2.4 2.4 2.5 2.5 2.5 2.6 2.6

200.9 201.6 202.5 202.3 202.3 202.9 203.4 203.4 203.8 204.4 205.1 205.1 204.3 204.5 205.8 205.1 207.1 209.8 210.0 210.9 211.5 210.5 212.4 211.6 212.2 213.7 214.1 215.0 216.0 215.2 215.6 216.9 216.7 219.3 219.4 221.5

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.1 0.1 0.1 0.2 0.1 0.1 0.1 0.1 0.2 0.2 0.2 0.3 0.3 0.3 0.3 0.4 0.4 0.4 0.5 0.6 0.7 0.8 0.9 0.9 1.0 1.1 1.2 1.3

0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.5 0.6 0.6 0.7 0.8 0.8 0.9 1.0 1.1 1.1 1.2 1.3 1.4

0.3 0.3 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.4 0.5 0.5 0.6 0.6 0.6 0.7 0.7 0.7 0.7 0.8 0.8 0.9 1.0 1.1 1.2 1.4 1.5 1.7 1.8 2.0 2.2 2.3 2.5 2.7

601.6 605.0 609.8 612.1 613.9 616.2 618.9 621.0 624.0 627.8 631.7 634.2 638.3 645.4 654.7 665.3 675.6 686.7 698.0 705.0 712.9 719.6 727.1 735.7 745.2 756.8 764.6 774.1 785.9 790.3 798.5 809.9 821.2 833.3 845.1 857.3

127.5 132.2 134.2 141.8 148.0 153.1 155.9 157.4 158.1 158.8 158.8 161.9 163.2 162.6 159.0 154.6 152.1 149.4 146.9 145.2 147.3 148.9 150.2 149.0 148.2 146.2 147.4 148.2 147.0 149.8 150.8 149.7 147.5 145.9 146.3 148.1









80.2 80.8 81.3 82.0 82.5 83.1 83.9 84.5 85.1 85.9 86.6 87.4 88.0 88.7 89.4 90.0 90.8 91.5 92.0 92.7 93.6 94.4 95.2 96.0 96.8 97.4 98.0 98.8 99.5

100.3 101.2 102.2 103.2 104.0 104.4 104.8

2.6 2.7 2.7 2.7 2.8 2.8 2.8 2.8 2.9 2.9 2.9 2.9 3.0 3.0 3.0 3.1 3.1 3.1 3.2 3.2 3.2 3.2 3.3 3.3 3.3 3.3 3.4 3.4 3.5 3.4 3.4 3.4 3.5 3.5 3.5 3.6

223.4 225.0 226.4 228.1 228.0 228.9 230.2 231.2 232.5 234.6 235.6 236.7 239.5 239.2 239.9 242.5 244.8 246.1 247.4 248.3 251.1 251.2 250.7 250.4 248.6 248.1 248.9 252.2 250.8 253.9 256.1 256.8 257.8 257.7 257.4 257.4

1.3 1.4 1.5 1.5 1.5 1.5 1.6 1.6 1.7 1.7 1.8 1.8 1.9 1.9 2.0 2.0 2.1 2.1 2.1 2.2 2.2 2.3 3.6 5.3 6.8 7.8 8.9

10.0 10.4 11.2 11.9 12.1 12.4 12.4 12.3 12.6

1.5 1.6 1.6 1.7 1.8 1.8 1.9 1.9 2.0 2.1 2.2 2.3 2.4 2.5 2.6 2.6 2.8 2.8 2.9 2.9 2.9 3.0 3.1 3.1 3.2 3.3 3.4 3.5 3.6 3.7 3.8 4.0 4.0 4.1 4.1 4.2

2.8 3.0 3.1 3.1 3.2 3.4 3.5 3.6 3.7 3.9 4.0 4.2 4.3 4.4 4.6 4.7 4.9 4.9 5.0 5.1 5.2 5.3 6.7 8.4 10.0 11.1 12.3 13.5 14.0 14.9 15.7 16.1 16.4 16.5 16.4 16.8

867.8 876.7 885.8 895.0 905.1 911.9 920.5 928.1 936.0 942.8 949.1 955.3 961.2 965.7 971.6 976.6 982.4 987.5 994.2 1000.6 1010.1 1018.4 1023.3 1030.3 1036.2 1041.4 1049.3 1058.2 1066.0 1075.5 1084.1 1092.1 1101.6 1106.6 1108.4 1113.9

146.7 147.4 148.7 149.7 153.1 157.1 160.6 164.2 167.8 173.2 179.9 185.9 191.1 197.0 204.5 211.3 217.6 221.2 226.6 232.1 234.1 239.3 250.6 257.7 262.9 268.2 271.5 272.7 274.8 277.6 282.2 288.2 297.8 304.7 304.2 306.2



SEASONALLY ADJUSTED, BILLIONS OP DOLLARS






105.9 106.7 107.5 107.9 108.7 109.6 110.6 111.7 112.5 113.5 114.8 115.4 115.3 116.2 117.0 117.9 118.3 118.8 119.5 119.9 120.2 120.5 121.3 122.6 123.1 123.9 124.5 125.5 126.6 127.4 128.1 129.0 129.8 130.9 131.6 132.5

3.6 3.6 3.6 3.6 3.6 3.6 3.7 3.7 3.8 3.8 3.8 3.9 4.0 4.0 4.0 4.0 4.0 3.9 4.0 4.0 4.0 4.0 4.1 4.1 4.2 4.2 4.2 4.2 4.2 4.2 4.2 4.2 4.2 4.2 4.2 4.1

259.0 261.3 259.5 253.0 251.5 254.4 256.5 261.4 264.7 267.1 266.3 261.2 248.4 240.8 238.7 238.9 235.4 233.2 232.6 232.9 231.4 231.4 231.0 231.2 234.4 230.6 229.2 229.3 228.2 226.9 226.2 227.5 229.4 232.3 233.7 234.0

13.1 13.6 13.9 14.5 14.5 15.7 16.8 17.7 18.7 19.5 20.5 20.7 34.9 43.1 48.3 53.9 53.7 55.1 56.3 56.8 58.1 58.7 60.8 62.8 65.5 66.0 67.3 69.8 69.1 69.9 70.0 71.4 73.7 76.8 79.7 80.3

4.3 4.4 4.6 4.6 4.7 5.0 5.2 5.5 5.8 6.0 7.3 7.3 9.0

10.1 11.1 12.5 12.5 13.0 13.5 13.8 14.2 14.5 15.1 15.6 16.3 16.6 17.0 18.2 18.1 18.5 18.9 19.5 20.2 21.7 22.7 23.5

17.4 18.0 18.5 19.1 19.2 20.6 22.0 23.2 24.5 25.6 27.8 28.0 43.8 53.3 59.3 66.4 66.2 68.0 69.8 70.6 72.3 73.2 75.9 78.4 81.8 82.6 84.4 88.0 87.2 88.4 88.9 90.9 93.8 98.5 102.4 103.8

1121.2 1130.1 1137.7 1140.0 1149.3 1163.9 1180.2 1189.9 1198.7 1206.7 1216.0 1220.6 1228.0 1236.2 1250.8 1263.5 1272.2 1281.0 1292.0 1306.7 1317.1 1330.4 1343.9 1356.3 1368.2 1373.1 1384.7 1393.6 1406.3 1416.7 1427.9 1442.2 1452.0 1458.9 1466.4 1478.2

311.6 318.9 321.1 326.0 328.3 326.5 326.1 327.1 325.2 331.0 341.0 357.7 374.0 381.2 380.3 384.7 394.5 401.1 410.7 415.4 423.5 429.0 434.1 440.8 446.6 452.7 458.9 468.9 470.6 475.7 478.6 485.4 486.9 492.5 492.8 488.0


TABLE 2 COMPONENTS OP MONEY STOCK MEASURES







1 3 3 . 5 1 3 5 . 0 1 3 6 . 4 1 3 7 . 4 1 3 8 . 6 1 3 9 . 5 1 4 0 . 5 1 4 1 . 4 142 .6 1 4 4 . 0 1 4 5 . 3 146 .2 1 4 7 . 4 1 4 8 . 1 1 4 9 . 1 1 5 0 . 1 1 5 0 . 8 1 5 2 . 0 1 5 2 . 8 1 5 3 . 5 1 5 4 . 4 1 5 4 . 8 1 5 5 . 5 1 5 6 . 1 1 5 7 . 0 1 5 7 . 9 1 5 8 . 5 1 5 9 . 4 1 6 0 . 5 161 .7 1 6 2 . 9 1 6 4 . 3 1 6 5 . 1 1 6 6 . 2 1 6 7 . 1 1 6 7 . 9

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

2 3 4 . 2 2 3 3 . 5 2 3 4 . 7 2 3 4 . 6 2 3 6 . 3 2 3 6 . 9 2 3 8 . 6 2 3 8 . 8 238 .7 2 3 9 . 9 2 3 8 . 7 2 3 8 . 5 2 4 0 . 2 2 4 0 . 1 2 4 0 . 6 241 .7 2 4 1 . 3 2 4 2 . 6 2 4 2 . 0 2 4 1 . 1 2 4 2 . 3 2 4 0 . 8 2 4 2 . 0 2 4 4 . 0 2 4 4 . 6 2 4 7 . 1 2 4 7 . 9 2 4 8 . 3 2 5 0 . 8 2 5 3 . 8 2 5 5 . 3 2 5 7 . 6 2 6 1 . 5 2 6 1 . 2 2 6 2 . 3 2 6 6 . 9

8 0 . 6 8 3 . 7 8 6 . 2 8 8 . 3 9 0 . 1 9 1 . 5 9 2 . 9 9 3 . 6 9 4 . 2 95 .7 9 6 . 4 9 7 . 1 9 7 . 7 9 8 . 4 9 9 . 7

1 0 0 . 4 1 0 1 . 5 1 0 2 . 1 1 0 2 . 1 1 0 1 . 9 1 0 2 . 5 1 0 2 . 8 103 .7 1 0 4 . 9 1 0 6 . 3 1 0 8 . 1 1 0 9 . 5 1 1 0 . 9 1 1 1 . 8 1 1 4 . 3 1 1 6 . 4 118 .7 1 2 0 . 4 1 2 1 . 8 123 .7 1 2 4 . 8

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

1 0 6 . 1 1 1 1 . 0 1 1 4 . 4 1 1 7 . 4 1 2 0 . 1 1 2 2 . 3 1 2 4 . 6 1 2 5 . 8 1 2 6 . 8 1 2 9 . 6 1 3 0 . 7 1 3 1 . 9 1 3 2 . 9 1 3 4 . 2 1 3 6 . 3 1 3 7 . 6 1 3 9 . 5 1 4 0 . 8 1 4 1 . 1 1 4 1 . 2 1 4 2 . 6 1 4 3 . 4 1 4 5 . 1 1 4 7 . 3 1 4 9 . 6 152 .7 1 5 5 . 1 1 5 7 . 1 1 5 8 . 7 1 6 2 . 4 1 6 5 . 5 1 6 9 . 1 1 7 1 . 8 174 .7 177 .7 1 7 9 . 7

1 5 3 0 . 0 1 5 6 1 . 3 1574 .7 1 5 8 6 . 6 1 5 9 6 . 9 1 6 0 6 . 5 1 6 1 4 . 0 1 6 2 0 . 6 1 6 3 0 . 6 1 6 4 5 . 9 1 6 5 6 . 9 1 6 6 5 . 3 1 6 7 6 . 2 1693 .7 1 7 0 4 . 8 1 7 1 6 . 6 1 7 2 9 . 1 1 7 3 8 . 3 1747 .7 1 7 5 7 . 3 1 7 6 9 . 6 1 7 8 2 . 8 1 8 0 3 . 5 1 8 2 3 . 6 1 8 4 5 . 3 1 8 6 3 . 2 1 8 6 9 . 9 1 8 6 8 . 5 1 8 7 9 . 8 1 8 9 9 . 3 1 9 1 0 . 1 1 9 2 0 . 1 1 9 2 7 . 9 1 9 3 4 . 3 1 9 4 2 . 4 1 9 5 2 . 4

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




OTHER CHECKABLE DEPOSITS

NONBANK OCD'S OCD'S M2 M3 TRAVELERS DEMAND AT AT TOTAL LESS LESS

CURRENCY CHECKS DEPOSITS BANKS THRIFTS OCDS Ml M2




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

5 . 6 5 . 6 5 . 7 5 . 8 5 . 8 5 . 9 6 . 0 6 . 1 6 . 1 6 . 1 6 . 1 6 . 1 6 . 1 6 . 3 6 . 3 6 . 4 6 . 3 6 . 4 6 . 5 6 . 6 6 . 7 6.6 6 . 6 6 . 6 6 . 7 6 . 8 6 . 8 6 . 9 6 . 9 6 . 9 6 . 9 6 . 9 7 . 0 7 . 0 7 . 0 7 . 0

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

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

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

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

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

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




-OTHER CHECKABLE DEPOSITS

NONBANK OCD'S OCD'S M2 M3 TRAVELERS DEMAND AT AT TOTAL LESS LESS

CURRENCY CHECKS DEPOSITS BANKS THRIFTS OCDS Ml M2




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

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

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

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

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

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

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

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







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

7 .7 7.7 7 .7 7 .7 7.7 7.7 7.7 7 .8 8 .1 8.3 8.2 8 .1

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

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

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

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

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

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

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



SEASONALLY ADJUSTED, BILLIONS OF DOLLARS MMDAS SAVINGS DEPOSITS + MMDAS --SMALL TIME DEPOSITS --LARGE TIME DEPOSITS

AT AT AT AT AT AT AT AT CB'S THRIFTS CB'S THRIFTS CB'S THRIFTS CB'S THRIFTS




0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

51.8 51.8 52.0 52.2 52.5 52.8 53.0 53.1 53.3 53.5 54.3 54.8 54.5 54.3 54.4 54.5 54.6 54.8 55.1 55.5 56.0 56.5 57.6 58.3 58.8 59.4 59.9 60.3 60.6 61.0 61.2 61.5 61.8 62.2 63.5 64.2

84.2 84.8 85.6 86.2 87.0 87.9 88.4 89.2 90.0 90.3 90.8 91.7 92.1 92.8 93.6 94.2 94.9 95.8 96.4 97.3 98.3 99.0 99.8

100.8 101.5 102.4 103.4 104.1 104.9 106.1 106.7 107.6 108.6 109.2 110.2 111.3

9.4 9.4 9.5 9.7 9.7 9.8 9.7 9.8 9.9 9.8 9.2 8.9 9.0 8.9 9.0 9.2 9.2 9.4 9.7

10.0 10.1 10.3 9.8 9.7 9.8

10.1 10.1 10.3 10.9 11.2 11.4 11.6 11.9 12.0 11.3 11.1

2.3 2.3 2.3 2.3 2.3 2.4 2.4 2.4 2.5 2.5 2.5 2.5 2.6 2.6 2.6 2.6 2.7 2.7 2.7 2.8 2.8 2.8 2.8 2.8 2.9 3.0 3.0 3.1 3.2 3.2 3.3 3.4 3.5 3.5 3.6 3.7

1.6 1.5 1.5 1.5 1.5 1.5 1.5 1.4 1.4 1.3 1.3 1.2 1.2 1.2 1.3 1.3 1.3 1.4 1.5 1.6 1.7 1.8 1.9 2.0 2.2 2.4 2.5 2.7 2.9 3.1 3.4 3.6 3.7 3.9 4.0 3.9

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0








0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

64.6 65.0 65.6 66.1 66.6 67.1 67.7 68.2 68.7 69.3 70.6 71.3 71.8 72.2 72.7 73.1 73.6 74.1 74.5 74.9 75.1 75.1 76.2 76.8 77.1 77.4 77.7 78.2 78.6 79.1 79.4 79.9 80.4 80.9 82.1 82.9

112.0 112.9 114.1 114.9 115.8 117.0 117.8 118.8 120.1 121.0 122.1 123.4 124.5 125.9 127.4 128.5 129.7 131.1 132.0 133.0 134.4 135.2 136.3 137.6 138.5 139.8 141.2 142.2 143.5 145.1 146.1 147.5 149.0 149.9 151.1 152.4

11.9 12.7 13.6 14.2 14.2 14.5 14.7 15.0 15.4 15.7 15.3 15.5 15.9 16.1 16.6 17.0 17.4 17.7 18.1 18.7 19.2 20.0 19.7 19.9 20.1 20.3 20.5 20.7 20.8 21.3 21.6 21.9 22.3 22.5 22.2 22.4

3.8 3.8 3.9 4.0 4.0 4.1 4.2 4.3 4.4 4.5 4.5 4.6 4.7 4.8 4.9 4.9 5.0 5.1 5.2 5.3 5.4 5.5 5.6 5.7 5.8 5.8 5.9 5.9 6.0 6.1 6.2 6.3 6.4 6.5 6.7 6.8

4.1 4.4 4.8 5.1 5.2 5.6 5.6 5.7 6.0 6.4 6.6 7.0 7.3 7.5 7.9 8.1 8.3 8.5 8.6 9.1 9.5 9.9

10.5 10.8 11.3 11.7 11.8 12.0 12.5 12.9 13.2 13.5 13.9 14.5 14.9 15.2

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0,0 0.0 0.0 0.0 0,0 0,0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0








0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

83.7 84.5 85.0 85.7 86.3 86.9 87.6 88.4 89.2 90.0 91.5 92.4 92.5 92.4 92.0 90.7 90.3 89.9 90.3 89.8 89.6 89.3 89.8 89.9 89.6 89.5 89.7 90.3 90.9 91.5 92.0 92.5 92.9 93.4 93.9 94.1

153.2 154.4 155.7 156.4 157.4 158.8 159.5 160.4 161.7 162.3 163.3 164.5 165.1 165.9 166.1 165.3 164.8 164.8 163.9 163.4 163.5 162.8 162.8 163.3 163.1 163.4 164.2 164.8 165.8 166.8 167.4 168.2 169.1 169.2 169.5 169.6

23.0 23.8 24.2 24.4 24.8 25.2 25.6 25.9 26.3 26.7 26.5 26.7 27.4 28.4 29.6 31.6 33.0 33.5 34.1 35.6 36.8 37.9 38.0 38.7 39.7 40.6 41.6 42.7 44.0 45.1 46.5 47.4 48.5 49.3 49.7 50.7

6.9 6.9 6.9 6.9 7.0 7.1 7.2 7.3 7.5 7.6 7.7 7.8 7.9 8.3 9.0 9.8

10.6 11.4 12.2 12.9 13.6 14.5 15.4 16.3 17.4 18.7 19.4 20.1 20.8 21.6 22.2 22.9 23.6 24.6 25.7 27.1

15.9 16.4 16.6 17.0 17.3 17.9 18.5 19.1 19.8 20.6 20.8 21.2 21.4 21.4 21.8 23.0 23.6 24.1 25.1 25.1 24.9 23.7 22.6 23.1 25.3 27.1 28.1 28.3 28.3 28.9 29.3 29.6 30.1 30.0 30.6 30.9

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0



SEASONALLY ADJUSTED, BILLIONS OF DOLLARS --MMDAS SAVINGS DEPOSITS + MMDAS --SMALL TIME DEPOSITS --LARGE TIME DEPOSITS





0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

94.3 94.5 94.7 94.8 94.8 94.8 94.7 94.9 95.2 95.4 95.8 96.1 96.1 95.9 95.7 95.3 95.0 94.8 94.1 93.9 93.9 93.8 93.8 93.8 93.7 92.7 92.2 92.3 92.5 93.1 94.1 95.1 96.0 96.9 97.7 98.6

168.9 169.0 169.6 169.5 169.7 170.1 169.9 170.3 171.3 171.3 171.6 172.8 172.6 172.3 173.2 172.6 172.4 173.1 171.8 170.5 170.6 169.7 169.5 169.8 169.0 165.3 162.2 159.3 157.6 157.4 157.4 157.8 159.0 160.1 161.1 162.3

51.7 52.8 53.4 54.3 55.2 56.2 57.6 58.9 60.5 61.8 62.6 63.5 64.3 65.1 66.0 66.9 67.4 68.0 69.3 69.7 70.1 70.4 70.8 71.6 71.3 71.3 71.5 71.5 72.4 73.9 74.4 75.2 76.2 77.1 78.2 79.3

28.1 29.4 29.9 30.5 31.2 32.1 32.8 33.4 33.8 35.1 36.4 37.1 37.7 39.3 39.4 40.2 40.9 41.3 42.6 44.2 45.3 46.7 47.7 48.8 49.4 52.2 55.5 58.8 61.7 63.3 65.3 66.9 68.1 69.3 70.6 71.8

30.7 30.9 31.4 30.8 30.6 30.4 31.9 33.0 33.7 34.9 36.2 37.4 35.8 34.3 33.5 32.8 32.1 30.8 27.7 24.8 23.7 22.5 21.3 20.4 19.0 19.1 20.4 24.2 25.0 24.7 30.5 34.1 37.2 39.8 42.2 44.5

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.1 0.2 0.2 0.3 0.4 0.4 0.5 0.6 0.6 0.7 0.7








0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

99.7 101.2 103.3 105.2 106.1 106.9 107.6 108.6 109.7 110.7 111.7 112.8 114.1 115.4 116.3 117.0 117.4 118.3 119.3 120.9 122.3 123.2 124.0 124.8 125.0 124.7 124.5 124.6 125.3 126.0 126.3 126.1 126.3 127.0 127.6 128.0

163.8 164.9 166.1 167.6 169.6 171.4 173.2 174.8 176.2 177.5 178.5 179.4 180.6 181.8 183.2 184.3 185.3 186.7 188.4 190.2 191.8 193.4 195.1 196.6 197.7 198.3 199.1 199.4 199.8 200.7 201.1 199.8 198.5 198.5 198.2 198.8

80.2 82.0 83.8 86.0 87.3 88.1 89.1 90.1 91.3 92.1 93.8 94.7 95.5 96.5 97.8 97.8 98.4 99.6

101.9 103.3 104.8 106.1 107.0 108.2 110.3 110.8 110.6 112.0 113.3 114.4 114.4 116.0 114.3 113.5 115.2 116.8

73.6 75.5 77.8 80.0 81.7 83.2 84.9 86.7 88.6 90.7 92.8 95.0 97.4 99.8

101.9 104.0 106.3 108.5 111.0 113.6 116.1 118.9 121.4 123.4 125.9 128.2 129.4 131.2 133.5 135.6 137.2 139.4 142.1 144.3 146.8 149.0

45.9 48.5 49.9 48.5 48.6 49.9 51.2 50.8 51.1 53.3 54.4 56.2 56.2 57.5 56.9 59.2 61.9 63.5 64.0 65.4 66.2 66.9 69.4 70.9 71.2 76.7 84.1 87.7 89.7 90.5 95.1 101.0 105.9 107.2 106.9 107.5

0.8 0.9 0.9 1.0 1.1 1.1 1.2 1.3 1.3 1.4 1.5 1.5 1.6 1.7 1.7 1.8 1.9 2.0 2.1 2.2 2.2 2.3 2.4 2.5 2.5 2.6 2.7 2.8 2.9 2.9 3.0 3.1 3.2 3.3 3.4 3.6








0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0

0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0

1 2 8 . 6 128 .7 1 2 9 . 3 1 2 9 . 9 1 3 0 . 5 1 3 1 . 3 1 3 2 . 5 1 3 3 . 2 133 .7 134 .7 135 .7 1 3 6 . 6 137 .7 1 3 8 . 8 1 4 1 . 0 1 4 3 . 5 1 4 6 . 0 149 .7 1 5 2 . 0 1 5 3 . 6 1 5 5 . 2 1 5 6 . 6 1 5 8 . 6 1 6 1 . 1 1 6 4 . 8 170 .7 1 7 4 . 4 1 7 7 . 8 180 .7 1 8 1 . 1 1 8 2 . 8 1 8 5 . 8 1 8 9 . 0 1 9 2 . 9 1 9 7 . 4 2 0 1 . 6

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

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

1 5 0 . 8 1 5 2 . 7 1 5 4 . 3 1 5 5 . 6 1 5 6 . 6 1 5 8 . 0 1 5 9 . 4 1 6 0 . 3 1 6 1 . 3 1 6 2 . 3 1 6 3 . 4 1 6 4 . 8 1 6 5 . 9 167 .7 1 7 0 . 1 172 .7 1 7 5 . 6 1 7 8 . 8 1 8 2 . 1 1 8 5 . 0 1 8 7 . 5 1 9 0 . 2 1 9 2 . 8 1 9 5 . 5 198 .7 2 0 1 . 9 2 0 5 . 2 2 0 8 . 8 2 1 2 . 3 2 1 5 . 4 2 1 8 . 2 2 2 1 . 3 2 2 4 . 8 2 2 8 . 3 2 3 1 . 6 2 3 5 . 3

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

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








0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0

0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0 0 . 0

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

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

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

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

1 0 9 . 8 1 1 0 . 5 1 1 0 . 5 1 1 0 . 6 1 1 1 . 6 1 1 4 . 5 1 1 7 . 0 1 1 9 . 8 1 2 2 . 5 1 2 6 . 6 1 3 0 . 9 1 3 5 . 0 1 3 8 . 5 1 4 1 . 9 146 .7 1 5 1 . 9 1 5 7 . 3 1 5 9 . 8 1 6 2 . 6 1 6 5 . 5 1 6 7 . 4 1 6 8 . 8 1 7 5 . 8 1 7 9 . 2 1 8 1 . 4 1 8 3 . 2 1 8 3 . 1 1 8 1 . 4 1 8 0 . 5 1 7 7 . 2 1 7 6 . 9 1 7 8 . 4 1 8 4 . 5 1 8 9 . 4 1 9 0 . 1 1 9 1 . 1

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

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







AT CB'S 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0

26.3

-MMDAS AT

THRIFTS 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 16.9

SAVINGS AT CB'S 192.4 189.1 184.0 177.5 176.6 181.0 186.7 191.4 193.2 193.8 192.6 185.6 177.2 173.4 171.6 171.5 169.2 166.8 166.0 163.7 161.3 159.1 158.7 159.0 159.6 159.0 159.0 159.2 159.0 158.7 158.1 159.3 160.7 163.4 166.4 190.0

DEPOSITS + MMDAS AT

THRIFTS 225.1 221.4 216.0 208.8 205.6 209.7 216.0 223.1 226.2 225.8 221.9 214.5 205.5 201.7 200.3 200.9 197.9 194.2 193.9 190.1 187.1 184.4 184.3 184.9 187.3 186.3 185.1 185.0 185.0 184.9 183.9 184.6 186.0 191.7 196.2 210.0

--SMALL TIME AT CB'S 240.0 245.7 254.8 266.7 270.2 269.1 267.8 266.7 267.7 270.1 277.1 286.3 296.6 302.1 306.6 308.8 313.0 318.0 320.8 327.5 333.4 340.3 345.4 347.8 350.7 356.7 363.7 369.8 374.9 378.6 384.5 387.1 389.2 386.5 386.2 379.9

DEPOSITS AT

THRIFTS 401.1 404.9 410.8 419.6 425.6 425.9 423.2 421.2 423.3 425.3 433.0 442.4 451.3 455.9 459.1 458.7 462.4 466.4 465.3 468.3 471.9 475.3 476.0 475.4 473.0 476.4 480.3 483.4 485.6 486.9 489.4 489.0 489.6 483.6 481.1 471.1

--LARGE TIME AT CB'S 192.1 194.8 197.6 200.7 201.4 194.8 188.9 188.3 191.7 195.4 203.7 215.5 225.6 230.1 228.3 226.1 232.2 236.5 240.1 243.8 246.4 246.2 247.0 249.3 251.9 256.2 258.8 262.4 262.7 264.2 266.8 267.3 266.6 268.8 268.6 263.6

DEPOSITS AT

THRIFTS 33.7 35.1 36.1 37.3 38.3 38.9 39.5 40.2 41.4 43.0 43.4 45.0 46.2 46.7 47.1 47.7 49.1 49.4 50.1 51.3 52.2 52.6 53.0 53.8 54.8 56.1 57.1 57.5 57.6 58.2 58.2 58.7 59.6 61.4 63.5 63.6




MMDAS SAVINGS DEPOSITS + MMDAS --SMALL TIME DEPOSITS --LARGE TIME DEPOSITS AT AT AT AT AT AT AT AT CB'S THRIFTS CB'S THRIFTS CB'S THRIFTS CB'S THRIFTS




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

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

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

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

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

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

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

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

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








333 .7 3 3 6 . 6 338 .7 3 4 5 . 1 351 .7 3 5 6 . 8 361 .2 3 6 6 . 1 3 7 1 . 0 3 7 4 . 6 3 7 6 . 3 377 .8 378 .7 3 7 8 . 1 3 7 6 . 9 3 7 6 . 1 3 7 3 . 1 369 .9 3 6 8 . 1 3 6 6 . 5 3 6 5 . 1 361 .7 357 .7 356 .6 356 .9 359 .2 3 6 0 . 1 3 6 0 . 9 361 .5 362 .5 3 6 2 . 4 3 5 8 . 9 355 .7 3 5 4 . 4 353 .0 3 5 0 . 4

182 .0 182 .2 182 .0 182 .6 184 .6 1 8 7 . 1 188 .9 190 .7 191 .9 193 .7 194 .9 194 .7 1 9 5 . 1 194 .9 193 .7 191 .8 190 .4 187 .7 184 .5 181 .0 178 .7 175 .4 171 .0 168 .8 166 .8 1 6 5 . 1 164 .4 1 6 4 . 4 164 .2 163 .8 162 .9 160 .7 157 .5 1 5 5 . 1 153 .2 151 .5

4 5 8 . 9 4 6 1 . 8 4 6 4 . 5 4 7 2 . 3 4 8 1 . 1 4 8 8 . 2 4 9 5 . 2 5 0 3 . 6 512 .7 5 2 1 . 3 5 2 7 . 8 5 3 3 . 6 5 3 9 . 5 5 4 2 . 8 5 4 5 . 0 5 4 7 . 9 5 4 7 . 4 5 4 5 . 3 5 4 4 . 8 5 4 4 . 4 5 4 3 . 9 5 4 0 . 2 5 3 6 . 0 5 3 5 . 0 5 3 6 . 4 5 4 0 . 3 5 4 3 . 3 5 4 5 . 9 548 .7 5 5 1 . 3 552 .7 5 4 9 . 8 5 4 6 . 4 5 4 4 . 6 5 4 6 . 4 5 4 2 . 6

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

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

5 0 1

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