h6_19860821_revision.pdf

FEDERAL RESERVE statistical release

H.6(5O)

For release at4:30 PM ET>TAugust 21, 1986

MONEY STOCK REVISIONS

Estimates of M2 and M3 have been revised upward, reflecting new

data for RPs obtained from regular quarterly and annual surveys for the end

of .Tune. The Sulk of the revisions were for the second quarter of the yesr.

The revisions to overnight RPs in M2 were relatively small, boosting M2

growth from the fourth quarter of last year to July by 0.2 percentage

Doint at an annual rate. Those to term RPs at thrift institutions were

considerably larger, and accounted for nearly ail of the revisions to the

non-M2 component of M3. Together, overnight and term RP revisions increased

estimated M3 growth from the fourth quarter of last year to July by 0.5

percentage point at an annual rate.

No data prior to June 193S were revised.

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

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

H.6 (508)Table 1

MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURESBillions of dollars

AUGUST J.\

Date

1985JOLTAUG.SEPT.OCT.NO 7.DSC.

1986JAM.FEB.BAB.AP&.HAYJUNEJULY P

195JOLTAUG.SEPT.OCT.HOY.D E C

1986JAH.FEB.HAS.APR.HAYJUNEJULY P

For period ended

1986-JULY 7142128

AUG. 4 P11 P

M1

Sum of currency,travelers checks,

demand deposits andother checkable deposits1

596.2604.8611.5614.26^0. 1626.6627.2631.0638.4646.1658.7666.8676.2

599.6602.0609.1612.2621.7639.9

633.5619.2630.5652.9651.8669.2679.9

M2M1 plus overnight RPs

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

and savings and smalltime deposits2

^496.22515.62529.92538.92551.42566.5

2569.92577.62592.32622.42649.72670.92698.9

2501.12511.22521.42534.22549.72574.7

2578.62570.92594.32632.02640.72673.12704.2

M3M2 plus

large time deposits,term RPs, term Eurodollars

and institution-onlyMMMF balances3

Seasonally adjusted3112.23130.53150.83165.73181.23201.1

3224.43241.33262.23293^23311.63332.93369.0

Not seasonally adjusted3109.83126.43144.33162.73164.73213.8

3232.%3233.33262.53299.63304.83333.73366.7

L

M3 plus otherliquid assets4

3t>83.33711.53739.73761.63799.23838.2

3860.53878.93892.43916.23949.33967.1

3682.83709.23735.43759.13801.93844.4

3865.73871.33896.53926.33936.03967.1

Debt

Debt of domesticnonfinancial sectors*

6389.66460.36525.36592.06t>d0.56810.0

6913.96964.17012.47070.57133.37194.6

6370.36441.56509.96578.46667.36804.1

6907.36944. 66985.37041.97107.67173.4

M1Seasonally adjusted

659.4661.9664.3666.5

668. 5670.7

^www** wTwtmyw

669.0670.3673.1675.7677.1679.9

674.2673.6677.7677.1679.9684.9

Not seasonally adjusted

660.5662.7664.3666.2

668.6671.3

672.8675.6679.9680.7

679.0679.7

691.3666.1678.6666.7

664.7688.9

NOTE: SPECIAL CAUTION SHOULD BE TAKEN I I INTEEPfiEIXNfi SK-fO-lC CHANGES I I flOlBY SUPPLY DATA, iHICfl AREHIGHLY fOLATILE AID SUBJECT TO RETISIOM.P--INDICATES PRELIfllKAJY DATA.FOOTNOTES APPEAfi 01 TH FOLLOWING PAGE


H.6 (508)Table 2

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

3 MONTHS FROM APR. 198t> TO JULY 1986

6 MONTHS FROM JAN. 1986 TO JULY 1986

12 HONTUS FRO* JULY 1985 TO JULY 1986

THIRTEEN JUS ENDING AOG. 11, 1986FHOH THIRTEEN NBKS ENDING:

HAT 12, 1986 (13 iEEKS PREVIOUS)

Jf8. 10, 1986 (26 NKS PBBVIOUS)

AUG. 12, 1985 (52 MBKS PREVIOUS)

M1

18.6

15.6

1J.4

17.V

14.2

1i.1

M2

11.7

10.0

8.1

M3

9.2

9.0

8.3

Debt1

10.4

11.3

13.8

1/ GRONTH BATES FOE DEBT ABE BASED 01 PERIODS BEGINNING AMD ENDING ONE MONTH EARLIER THAN FOB THE HONBTABI AGGREGATES,NAMELY, MARCH 1986 TO JUNE 1986. DECEMBER 1985 TO JUNE 1986, AND JUNE 1985 TO JUNE 1986, RESPECTIVELY.

FOOTNOTES TO TABLE 11/ CONSISTS OF (1) CUBBBNCY OUTSIDE THE TREASURY, V&MkkL RESERVE BANKS, AND THE VAULTS OF COMMERCIAL BANKS;

(2) TRAVELERS CHECKS OF NONBANK ISSUERS; (3) D&likUD DEPOSITS AT ALL COMMERCIAL BANKS OTHER THAN THOSE DUB TODOMESTIC BkMKS, THB U.S. GOVERNMENT, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LRSS CASH ITEMS IN THE PROCESSOF COLLECTION AND FEDSBIL R^SiBHK FLOAT; AND (4) OTHER CHECKABLE DEPOSITS (OCD) CONSISTING OF NEGOTIABLE OBDtMOF UlTHDfiAifAL (NOW) AND AUTOMATIC TRANSFER SERVICE (ATS) ACCOUNTS AT DEPOSITORY INSTITUTIONS,CREDIT UNION SHARE DRAFT ACCOUNTS AND DEHAND DEPOSITS AT THRIFT INSTITUTIONS. THE CDBBENCI AND DEMANDDEPOSIT COMPONENTS EXCLUDE THE ESTIMATED AMOUNT OF VAULT CASH AND DEMAND DEPOSITS, RESPECTIVELY, H&LD BYTHRIFT INSTITUTIONS TO SEBVICE THEIM OCD LIABILITIES.

2/ CONSISTS OF M1 PLUS OVEBNIGHT (AND CONTINUING CONTRACT) RPS ISSUED BY ALL COMMERCIAL BANKS AND OVERNIGHT EURODOLLARSISSUED TO U.S. RESIDENTS BY FOREIGN BRANCHES OF U.S. BANKS HORLDHIDE, MMDAS, SAVINGS AND SMALL DENOMINATIONTIME DEPOSITS (TIME DEPOSITSINCLUDING RETAIL RPSIN AMOUNTS OF LESS THAN $100,000), AND BALANCES XN BOTHTAXABLE AND TAX-EXEMPT GENERAL PURPOSE AND BROKER/DEALER MONEY MARKET MUTUAL FUNDS. EXCLUDES IRA AND KEOGHBALANCES AT DEPOSITORY INSTITUTIONS AND MONEY MARKET FUNDS. ALSO EXCLUDES ALL BALANCES A&LQ BY U.$. COMMERCIALBANKS, MONEY MARKET FUUOS (GENERAL PURPOSE AND BROKER/DEALER), FOREIGN GOVERNMENTS AND COMMERCIAL BANKS, ANDTHE U.S. GOVERNMENT. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNTOF DEMAND DEPOSITS AND VAULT CASH HELD BY THRIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS.

3/ CONSISTS OF H2 PLUS LARGE DENOMINATION TIME DEPOSITS (IN AMOUNTS OF $100,000 OR BORE) AND TERM UP LIABILITIES ISSUEDBY COMMERCIAL BANKS AND THRIFT INSTITUTIONS, TEdM EURODOLLARS HELD BY U.S. RESIDENTS AT FOREIGN BRANCHES OF U.S. BANKSHORLDHIDE AND AT ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA, AND BALANCES IN BOTH TAXABLE AND TAX-EXEMPTINSTITUTION-ONLY HONEY MARKET MUTUAL FUNDS. EXCLUDES AMOUNTS &&LD BY DEPOSITORY INSTITUTIONS, THE U.S. GOVERNMENT, MONEYMARKET FUNDS, AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS. ALSO SUBTRACTED IS A CONSOLIDATION ADJUSTMENT THAT REPRESENTSTHE ESTIMATED AMOUNT OF OVERNIGHT BPS AND EURODOLLARS &&LD BY INSTITDTIO1-ONLY MONEY MARKET MUTUAL FUNDS,

V CONSISTS. OF HJ PLUS THE NONBANK PUBLIC HOLDINGS OF U.S. SAVINGS BONDS, SHORT-TERM TREASURY SECURITIES, COMMERCIALPAPBB AND BANKERS ACCEPTANCES, NET OF MONEY MARKET MUTUAL FUND HOLDINGS OF THESE ASSETS.

5/ DEBT OF DOMESTIC NONFINANCIAL SECTORS CONSISTS OF OUTSTANDING CREDIT MARKET DEBT OF THE UNITED STATES GOVERNMENT,STATE AND LOCAL GOVERNMENTS AND PRIVATE NONFINANCIAL SECTORS* PRIVATE DEBT CONSISTS OF CORPORATE BONDS, MORTGAGES,CONSUMER CREDIT (INCLUDING BANK LOANS), OTHER BANK LOANS, COMMERCIAL PAPER, BANKERS ACCEPTANCES AND OTHER DEBTINSTRUMENTS. THE DATA ARE DERIVED FROM THE FEDERAL RESERVE BOARD*S FLON OF FUNDS ACCOUNTS. ALL DATA ON DEBT OF DOMESTICNONFINANCIAL SECTORS AH PRESENTED IN MONTH-AVERAGE FORM, DERIVED BY AVERAGING MONTH-END LEVELS OF ADJACENT MONTHS. THESEDATA HAVE ALSO BEEN ADJUSTED TO REMOVE STATISTICAL DISCONTINUITIES THAT MAY ARISE IN THE UNDERLYING FLOW OF FUNDS STATISTICS.THE PRESENTATION OF V4M DATA IN THIS hZL&KSB DlVXitfLS, THEREFORE, FROM THE QUARTERLY FLOW OF 2UMDS STATISTICS CONTAINEDIN THE FEDERAL BSBBV RELEASES 2.7 AND Z.I. IN THOSE RELEASES, PUBLISHED LEV&LS OF CREDIT MARKET D1*T ARE MEASURED ONA OUABTEB-BND BASIS AND INCLUDE DISCONTINUITIES.


COMPONENTS OF THE MONEY STOCKWWont of doNara, miornHy adfuMwl

Dets

1985-JULYAUG.SEPT.

OCT.NOV.DEC.

1986-JAN.FEB.MAR.

APiUHAYJUNE

JULY P

MEEK ENDING

1986JULY 7

142128

AUG. 4 P11 P

Currency1

165.3166.9167.7

168.7169.8170.6

171.9172.9173.9

174.4175.8176.7

177-6

177.2177.1177.6177.9

178.3178.7

TWWSlSfSchecks*

5.85.95.9

5.95.95.9

5.95.96.1

6.16.16.2

6 . 4

Demanddeposits*

260.4263.1266.4

266.0267.8271.5

268.9269.2273.2

275.7281.6284.9

288.3

288.5287.5289.1287.8

288.8290.3

Omarcheckabtadeposits4

1 6 4 . tt169.0171.5

173.7176.7178. b

180.5183.1185.2

189.9195.1199.0

203.9

202.2202.7204.6205.0

206.4209.4

MontfSfflcompi

(nM2*

1 8 9 * - 91910.81916.4

1924.619J1.31939.9

1942.71946.61953.9

1976.31991. 12004.1

2022.7

inentsIn M3on*/

616.1614.9621.0

626.8629.8634.6

654.5663.7669.9

670.8661.9662. 1

670.1

8at

OOmmOfClatbanks122.9123.7124.0

124.4124.8124.5

124.7125.0125.6

126.6i 129.0

130-9

133.4

132.4132.6133.8134.3

134.8135.9

wings dspost t

ttirtftinstitutions

173.8176.0176.3

177.9179.0179.1

179.3179.9181.2

184.6189.5194.1

197.8

ts7

total

296.7299.7300.3

302.3303.7303.6

304.0304.9306.9

311.4318.5325.0

331.2

SelectedSffN

at

banks386.7383.4382.7

382.0382.2384.1

386.6388.1389.0

388.0384.9381.8

380.0

381.7381.0379.7378.7

377.5376.8

nontraneactkill time depot

attiwift

institutions501.349 7.5495.6

493.7493.7496.2

499.4502.9505.7

508.2506.3504. 1

503.2

MtsttemeMts1

total

888.0880.9878.3

875.7876.0

885.9891.0894.7

89 6.2891.2885.9

883.3

Lan.at

banks'*264.0266.9270.6

273.9276.7279.1

289.7291.5287.1

287.0281.5281.0

280.8

281.8280.1281.3280.7

279.9281.7

is time depotat

tftrtft

154.3154. 1155.1

155.9156.3157.3

158.2159.7163.4

165.0164.9164.6

165.7

Mts'

418.2421.0425.6

429.7432.9436.5

44 7.9451.2450.5

452.1446.3445.6

446.5

1/ CURRENCY OUTSIDE THE U.S- TREASURY, FEDERAL JtESHV8 BANKS AND TAULTS OF COMMERCIAL BANKS. EXCLUDES THE ESTIMATEDAMOUIT OF VAULT CASH HELD BI THRIFT INSTITUTIONS TO SERVICE THEIR OCD LIABILITIES.

2/ OUTSTANDING AMOUNT OF U.S. DOLLAR-DENOMINATED TRAVELERS CHECKS OF NONBANK ISSUERS. TRAVELERS CHECKS ISSUED BY DEPOSITORYINSTITUTIONS ARE INCLUDED II DEMAND DEPOSITS.

3/ DEMAND DEPOSITS AT COMMERCIAL BANKS AND FOREIGN R&LkTED INSTITUTIONS OTHER THAN THOSE DOE TO DOMESTIC BANKS, THE U.S. GOVERN-MENT AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS LESS CASH ITEMS IN THE PROCESS OF COLLECTION AND FEDERAL RESERVE FLOAT.EXCLUDES THE ESTIMATED AMOUNT OF DEMAND DEPOSITS HELD AT COMMERCIAL BANKS BY THRIFT INSTITUTIONS TO SERVICE THEIR OCDLIABILITIES.

4/ CONSISTS OF NOH AND ATS BALANCES AT ALL DEPOSITORY INSTITUTIONS, CREDIT UNION SHARE DRAFT BALANCES ANDDEMAND DEPOSITS AT THRIFT INSTITUTIONS. OTHER CHECKABLE DEPOSITS SEASONALLY ADJUSTED EQUALS THE DIFFERENCE BETNEEN THESEASONALLY ADJUSTED SUM OF DEMAND DEPOSITS PLUS OCD AND SEASONALLY ADJUSTED DEMAND DEPOSITS.

5/ SUM OF OVERNIGHT RPS AND OVERNIGHT EURODOLLARS, MONEY MARKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER),NHDA3, AND SAVINGS AND SMALL TIME DEPOSITS, LESS THE CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AHODNT OFDEMAND DEPOSITS AND VAULT CASH HELD BY THHIFT INSTITUTIONS TO SERVICE THEIR TIME AND SAVINGS DEPOSITS LIABILITIES.

6/ SUN OF LARGE TIME DEPOSITS, TERM RPS AND TERM EURODOLLARS OF U.S. RESIDENTS, MONEY MARKET FUND BALANCES (INSTITUTION-ONLY), LESS A CONSOLIDATION ADJUSTMENT THAT REPRESENTS THE ESTIMATED AMOUNT OF OVERNIGHT RPS AND EURODOLLARS HELD BYINSTITUTION-ONLY MONEY MARKET FUNDS.

7/ SAVINGS DEPOSITS EXCLUDE HMDAS.8/ SMALL DENOMINATION TIM DEPOSITSINCLUDING RETAIL RPS ARE THOSE ISSUED IN AMOUNTS OF L&SS THAN 5100,000. ALL

INDIVIDUAL RETIREMENT ACCOUNTS (IRA) AND KEOGH ACCOUNTS AT COMMERCIAL BANKS AND THRIFTS ARE SUBTRACTED PfiOH SMALLTIME DEPOSITS.

9/ LARGE DENOMINATION TIME DEPOSITS Ah THOSE ISSUED IN AflOUNTS OF $100,000 OR SORE, EXCLUDING THOSE BOOKiSD ATINTERNATIONAL BANKING FACILITIES.

10/ LAHGE DENOMINATION TIflfc DEPOSITS AI CUrtHERClhL BANKS LE.SS THOSE HELD BY MONEY MARKET flUTUAL FUNDS,DcPOSlTORY INSTITUTIONS AND FOREIGN dANKS AND OFFICIAL INSTI1UilONS.


H.6 (508)Table 4

COMPONENTS OF LIQUID ASSETS AND DEBTBillions of dollars, seasonally adjusted

Date

1985-JUNE

JOLTAUG.S E P T .

O C T .NOV.D E C .

1986-JAN.F E B .HAf i .

APR.HAXJUME P

savings bonds

76.5

76.777.278.0

78.579.079.5

79.980.581.1

81.882.683.4

Non-M3 components of Lshort-term treasury

securities1

281.9

279.2277.3280.*

280.9299.5307.1

304.1305.8298.0

297.2308.3304.4

bankers acceptances2

44.5

43.743.643.2

43.943.141.1

41.542.141.6

41.040.140.0

commercial paper*

165.7

171.6182.9187.2

192.5196.4209.5

210.6209.2209.5

203.0206.7206.3

Debt components4federal debt

1459.3

1479.51496.71546.6

1518.01549.01586.3

1608.01621.11628.2

1638.81656.21677.5

non-federal debt

4860.9

4910.34963.65018.8

5074.05131.55223.7

5305. 95343.05384.1

5431.75477.05517.1

1 / CQMSISTS OF U . S . TBBASUBY BILLS AID COUPOMS NIX* BEMAINING HATUBITIES OF LESS TUAM 12 flOHTiiS tfELD BY OTHER THAN DEPOSITOR!INSTITUTIONS, FEDEfiAL B8SSBVE B i N I S , HONEY flABKET MUTUAL FUNDS AND FOBEIGN ENTITIES.

2 / VST OF BANKEBS ACCEPTANCES HELD BI ACCEPTING BANKS, FEDERAL UESEZVB BANKS, FOB El GN OFFICIAL INSTITUTIONS, THE FEDEBALHOHS LOAN BANK SISTEfl AND BONEY flABKET HOTUAL FUNDS.

3 / TOTAL COHBEBCIAL PAPSB LESS COHflEBCIAL PAPEB HELD BY HONEY flABKET HUTUAL tQUDS, / DEBT DATA ABE ON A flONIULY AfSBAGE BASIS, D2UIV&D BY AfEBAGING END-OF-flONTH LEfELS OF ADJACENT MONTHS, AND HAfB BEEM

ADJUSTED TO BEflOfE DISCONTINUITIES.


H 6 (506)Table 5

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

Date

198 5-JO L IAUG.SEPT.

OCT.MOV.D E C

1986-JAN.FEB.MAR.

APE.HAYJURE

JULX P

EBK ENDING:

1986-JULZ 7142128

AUG. 4 P11 P

1 / CUBREHCI OOTSIDE THE

Currency1

166.8167.7167.6

168.4170.7173.1

170.5170.6172.3

173.6175.8177.4

179.1

180.9179.6179.0177.9

179.5180.8

Travelerschecks2

6.56.66.2

5.95.65.5

5.55.65.8

5.85.96.5

7.2

Demanddeposits3

261.8260.4265.0

265.6269.02*1.3

275.1262.0267.1

27.7276.7285.6

290.0

297.1294.2289.3281.4

290.$290.7

Other checkable deposits

at commercialbanks4

115.0117.0119.0

119.8122.6125.8

128.1126.8129.3

134.8132.8136.6

139.0

140.4139.9138.7137.3

141.4143.3

at thriftinstitutions*

49.550.351.3

52.553.854.4

54.354.256.0

59.960.563.0

64.6

65.965.364.462.7

65.966.8

total

164.5167.3170.3

172.3176.4180.1

182.4181.0185.3

194.7193.4199.6

203.6

206.3205.2203.1200.0

207.3210. 1

Nontransactions components

in M2*

1901.51909.11912.3

1922.01928.01934.7

1945.11951.71963.9

1979.11988.92003.9

2024.3

in M3 only7

608.6615.3622.9

628.5635.0639.2

653.5662.3668.2

667.6664. 1660.6

662.4

OvernightRPs*

48.449.650.5

50.952.$53.3

50.152.451.2

51.051.549.4

54.2

50.953.755.156.6

55.156.9

OvernightEurodollars*

12.414.214.0

14.313.917.0

18.816.116.3

17.417.617.0

17.7

16.217.618.918.7

16.815.8

. U.S. TREASURI. FEDERAL RESERVE BANKS AND THE VAULTS OF COHHERCIAL BANKS. EXCLUDES THE ESTIMATED

Generalpurpose andbroker/dealer

money marketfunds

175.8176.8176.7

177.0176.8176.5

177.7181.0186.2

191.419 3.2197.2

199.4

196.7198.8200.4201.1

200.7201.4

AMOUNT OF VAULT CASH HELD 31 THRIFT INSTITUTIONS TO SERVICE THEIB OCD LIABILITIES.2 / OUTSTANDING AHO0NT OF U . S . DOLLAR-DENOMINATED TBATELERS CHECKS OF NONBANK ISSUEfiS. TRAVELERS CHECKS ISSUED BT DEPOSIT OR I

INSTITUTIONS ABE INCLUDED IN DEHAID DEPOSITS.3 / DEMAND DEPOSITS AT COMMERCIAL BANKS OTHER THAN THOSE DUE TO DOMESTIC BANKS, THE U . S . GOfERNHENT AND FOREIGN BANKS AND

OFFICIAL INSTITUTIONS, LZSS CASH ITEMS IN THE PROCESS OF COLLECTION AND F . R . FLOAT, LESS THE ESTIMATED AMOUNT OF DEflANDDEPOSITS HELD AT COMMERCIAL BANKS BI THRIFT INSTITUTIONS TO SERflCE THEIR OCD LIABILITIES.

4 / CONSISTS OF NOH AND ATS BALANCES AT COflHERCIAL BANKS, U . S . BRANCHES AND AGENCIES OF FOREIGN BANKS, AND EDGE ACTCORPORATIONS.

5 / CONSISTS OF NOH AND ATS BALANCES AT SAVINGS AND LOAN ASSOCIATIONS AND MUTUAL SAVINGS BANKS, CREDIT UNION SHAREDRAFT BALANCES, AND DEHAND DEPOSITS AT THRIFTS.

6 / SUB OF OYERNIGHT RPS AND EURODOLLARS, 1I0NEX HAttKET FUND BALANCES (GENERAL PURPOSE AND BROKER/DEALER) # MM DAS AND SAVINGS

AND SHALL TIME DEPOSITS LESS THE ESTIMATED AMOUNT OF DEHAND DEPOSITS AND VAULT CASH HELD 0 1 THRIFT INSTITUTIONS TO SERVICETHEIR TIME AND SAVINGS DEPOSIT LIABILITIES.

7 / SUM OF LARGE TIME DEPOSITS, TERM RPS AND EURODOLLARS OF U . S . RESIDENTS, MONET MARKET FUND BALANCES (INSTITUTION-ONLI|9 LESS ACONSOLIDATION ADJUSTMENT THAT REPRESENTS THE KSIIMATED AMOUNT OF OVERNIGHT RPS AND EOflOWJLLARS HELD BF INSTITUTION-ONLIHONET MARKET MUTUAL FUUDS,

8 / CONSISTS OF OVERNIGHT AND CONTINUING CONTRACT bPS ISSUED BX COMMERCIAL BANKS TO OTHER THAN DEPOSITORI INSTITUTIONS ANOMOM El MARKET MUTUAL FUNDS (GENERAL PUB POSE AMU tffiOKER/UEALEK) .

9 / ISSUED BK FOREIGN BRANCHES OF U . S . BANKS NORL0W1UE TO U . S . RESIDENTS OTHilB THAN DEPOSITORY INSTITUTIONS ANDMONEI MARKET MUTUAL FUNDS (GENERAL PUKPOSE AND ttKOKER/DfiALJiH) .


H.6 (506)Table 5-continued


Date

1985-JOLTAUG.SEPT.

OCT.MOV.DEC.

1986-JAN.

HAS.

APR.HATJUNE

JULI P

MEEK ENDING

1986J0L I 7

142128

AUG. 4 P11 P

Money market deposit accountsat

commercialbanks

313.2317.9321.3

324.3329.2332.4

336.7337.0340.4

344.8348.6355. 2

359.0

357.6358.6359.1359.9

360.9362.3

atthrift

institutions

174.0177.3178.5

179.8180.3179.6

179.0179.4180.2

180.4182.2185.2

187.2

total

487.2495.2499.8

504.1509.5512.0

515.7516.3520.5

525.2530.8540.4

546.2

Savings depositsat

commercialbanks

124.4124.0123.7

124.6124.J12J.i>

123.9123.6124.9

127.2129.5132.2

135.1

134.6134.8135. S135.3

135.9136.9

atthrift

institutions

174.6174.9175.4

178.3179.0178.3

178.8179.1181.6

185.8190. J194.a

198.8

total

298.9298.9299.1

302.9303.3301.8

J02.7302.7306.5

312.9319.9327.0

333.9

Small denoat

commercialbanks

386.5385.3385.1

384.8J84.2384.8

386.5387.1387.2

384.5382.3380.7

J79.9

380.6380.3379.6379.4

378.7378.4

nation time deposits1at

thriftstitutions

500.6497.1495.4

496.5496.4497.6

502.6504.6504.6

505.4502.4bO1.2

502.3

total

887.1882.5880.5

881. i880.7882.5

889.1891.7891.8

889.9884.7881.9

882.1

Large denomination time deposits3at

commercialbanks4

263.0267.4272.6

276.3278.2280.9

288.5290.4287.7

283.6280.8279.3

279.6

279.9278.1280.3280.8

279.62*1.5

atthrift

institutions

153.1153.9155.1

156.2157.1157.8

159.0160.7163.2

164.1164.4164.1

164.6

total

416.1421.4427.6

432.5435.3438.7

447.6451.0450.8

447.6445.1443.4

444.4

1/ SAVINGS DEPOSITS EXCLUDE AHDAS.2/ SHALL DENOHINATION TIHE DEPOSITS INCLUDING RETAIL 8PS ABE THOSE ISSUED IH AHOUHTS OF L&SS THAU $100,000. ALL

INDIUDUAL HETIREHENT ACCOUNTS (1BA) AND KEOGM ACCOUNTS AT COHHERC1AL BANKS AND THRIFTS ARE SUBTRACTED FROH SHALLTIHE DEPOSITS.

3/ LARGE DENOHINATION TIHE DEPOSITS ARE THOSE ISSUED IN AMOUNTS OF $100,000 OH HORE, EXCLUDING THOSE BOOKED AT INTERNATIONALBANKING FACILITIES (IBFS).

4/ LARGE DENOHINATION TIHE DEPOSITS AT COHHERCIAL BANKS LESS THOSE HELD D BOMEI HARKET HUTUAL FVHDS, DEPOSITOR!INSTITUTIONS AND FOREIGN BANKS AND OFFICIAL INSTITUTIONS.


M.6(508)labte 5-continued


Oat

1985-JULTAUG.SEPT.

OCT.NO?.D E C

198 6-JAN.FEB.HAS.

APR.HATJONS

JULT P

REEK ENDING;

1986-JULI 7142128

AUG. 4 P11 P

Institutiononly money

market funds

65.063.662.3

63.364.564.6

67.367.770.2

74.176.175.0

77.5

75.475.878.579.5

79.880.4

Term RfV

at commercialbanks

29.930.631.2

30.531.732.1

33.735.837.2

35.634.832.6

31.8

31.631.731.132.4

32.632.6

at thriftinstitutions

25.926.727.5

29.231.033. i

35.134.634. 2

35.6J8-240.8

41.de

total

55.857,358.6

59.863.366.0

68.870.571.4

71.273.073.4

73. 6e

TermEurodollars1

77.678.870.9

78.278.476.7

76.079*282.7

81.078.377.6

76.1

Non M3 Components of L

Savingsbonds

76.677.178.0

78.579.079.6

80.080.581.1

81.882.683.4

Short-termtreasury

securities'

279.9280.4281.3

280.7295.7304.3

303.8306.7304.2

299*8301.9301.7

Bankersacceptances

43.544. J43.9

43.843.342.1

42.241.940.7

39.939.639.5

Commercialpaper*

173.1181.0187.8

193.4199.1204.6

207.5208.8207.9

205.2207.0208.9

Components of Debt

Federal debt9

1475.81495.81506.9

1515.61544.21583.7

1606.71621.01633.3

1644.6166Q.61678.7

Non-Federal*debt

4894.54945.75003.0

5062.95123.25220.3

5300.55323.65352.0

5397.35447.05494.7

1 / TEBH BPS ARE THOSB HUH ORIGINAL BATOBITIES GREATER THAN OMB DAI, EXCLUDING CONTINUING CONTRACTS AND RETAIL BPS. INCLUDESA RELATIVELY SHALL AHOUMT OP OVERNIGHT BPS AT TflBIFT INSTITUTIONS.

2 / IEBR EUBOOOLLABS ABE THOSE BITH OfilGINAL MATURITIES GREATER THAN ONE OAT. CONSISTS OP THOSE ISSUED TO U . S . BESIDENTS BIFOREIGN BRANCHES OP U . S . BANKS WORLDWIDE AND flY ALL BANKING OFFICES IN THE UNITED KINGDOM AND CANADA. EXCLUDES THOSE HELDBY OEPOSITOBI INSTITUTIONS AND HONEI flARKET MUTUAL FUNDS.

3/ CONSISTS OF U . S . TBEASUfll BILLS AND COUPONS WITH BEflAlNING HATUBITIES OF LESS THAN 12 MONTHS HELD BI OTHER THAN DEPOSITORIINSTITUTIONS, FEDEBAL RESERVE BANKS, flONEI MARKET BUXUAL FUNDS, AND FOBEIGN ENTITIES.

4 / NET OF BANKERS ACCEPTANCES HELD BT ACCEPTING UANKS, FEDEBAL RESERVE BANKS, FOBEIGN OFFICIAL INSTITUTIONS, THE FEDERALHOME LOAN BANK SYSTEM AND MONEY HABKET MUTUAL FUHDS.

5 / TOTAL COMMERCIAL PAPER LESS COMMERCIAL PAPER HELD BT MONET HABKET MUTUAL FUNDS.6 / DEfiT DATA ABE ON A HOHTHLT AVERAGE BASIS, DERIVED til AVERAGING END-OP-MONTH LEVELS OF ADJACENT MONTHS, AND HAVE BEEN

' ADJUSTED TO BEHOVE DISCONTINUITIES.


H 6 (508)Table 6

MEMORANDUM ITEMSBillions of dollars, not seasonally adjusted

Date

1985-JULIAUG.SfiPT.

OCT.Of .DBC.

1986- JAE.WEB.BA&.

APB.HA IJUIB

JOLI P

I U K EM0II6:

1986JOLT 7

142128

AUG. 4 p11 P

Demand deposits at banks due tc

foreigncommercial

banks

8 . 17 .88 . 1

8 . 28 . 18 . 5

8 . 88 .38 . 4

8 . 78 . 88 . 8

9 . 1

9 . 09 . 49 . 09 . 2

8 . 69 . 2

foreignofficial

institutions

1.92 . 02 . 1

1.92 . 11.9

2 . 01.91.8

1.91.81.8

2 . 0

2 . 12 . 11.91.8

1.91.9

Time andsavingsdeposits

due to foreigncommercialbanks and

foreign officialinstitutions

8 . 38 . 28 .2

8.36 .48 . 3

8 . 07 . 87 . 6

7 . 57 . 47 . 3

7 .2

7 . 27 . 27 . 27 . 2

7 . 27 . 2

demanddeposits atcommercial

banks

3 . 12 . 83.4

3 . 03.03.4

3.3.23mi

4 . 23 . 03 .5

3 .6

5.72 . 63 .82 .4

3 . 13 . 0

U.S.

balances atFederalReserveBanks

4 . 03 . 04 . J

3. 12 . 83 . 4

10.57 . 53 .4

3 -74 . 82 . 9

3 .

3 . 83 . 73 . 93 . 9

3 . 33 . 9

government deposits

note balancesat commercial

banksand thrift

institutions

20.010.613.4

2 . 44 . 8

11.1

20.521.012.4

13.618.712.6

13.2

12.411.613.116.1

11.96 . 5

total demanddeposits and

note andFR balances

27.016.421.1

8 . 510.717.9

34.531.719.2

21.526.518.9

20.5

21.917.920.922.5

18.313.4

timeand savingsdeposits atcommercial

banks

1.21.31.3

1.31.31.4

1.31.41.4

1.51.51.7

1.6

1.61.61.61.6

1.61.6

commercialbanks

56.757.457.8

58.256.759.2

60.762.564.2

68.469.570.1

70.8

IRA and Keogh Accounts

thriftinstitutions

75.376.878.179.079.580.981.982.986.4

90.191.291. 8e

93. 5e

moneymarket

mutual funds

8 . 58 .4B.i

8.48 .48 . 3

8 .68 . 79 . 0

9 . 810. 110. 3e

10. 4e

total

140.4142.6144.3

145.7146.6148.4

151.2154.2159.5

168.2170.8172.2e

174.7e

* estimated


SPECIAL SUPPLEMENTARY TABLE

Monthly Survey of Selected Deposits and Other AccountsAt All Insured Commercial Banks and All Mutual Savings Banks1

June 25, 1986 and July 30, 1986(not seasonally adjusted)

Liability Categories

NOW accounts2

Money market deposit accounts-*

Savings accounts*

Interest-bearing time deposits withbalances of less than $100,000with original maturities of:*

7 to 31 days(standard error of the estimate)



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

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

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

All IRA/Keogh Plan deposits6(standard error of the estimate)

Retail repurchase agreements'(standard error of the estimate)

Liability Categories

NOW accounts2

Money market deposit accounts^

Savings accounts*

Interest-bearing time deposits withbalances of less than $100,000with original maturities of:^




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

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

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

All IRA and Keogh Plan deposits6(standard error of the estimate)

Retail repurchase agreements'(standard error of the estimate)

Insured Commercial BanksAmount Outstanding^($mil)June 25

128,548

355,156

132,480

5,570(436)

19,918(702)

140,225(1,773)

72,137(1,515)

85,268(1,786)

123,282(2,370)

70,404(320)

1,697(290)

July 30

135,227

360,916

135,878

6,157(406)

19,785(937)

139,765(2,098)

72,712(1,613)

84,958(1,561)

122,652(1,856)

71,145(334)

1,432(293)

Average Rate Paid (%)June 25

5.43

5.96

5.43

6.15

6.26

6.55

6.77

7.12

7.38

N.A.

6.09

July 30

5.33

5.69

5.36

5.96

6.01

6.24

6.44

6.79

7.08

N.A.

5.78

Number of Issuing BanksJune 25

13,605

13,150

13,451

8,777

12,974

13,953

13,343

13,620

13,503

13,465

2,823

July 30

13,565

13,111

13,473

8,126

12,317

13,267

12,700

12,987

12,747

13,426

2,625

State-Chartered Mutual Savings BanksAmount Outstanding ($mil)June 25

4,183

30,954

27,633

164(22)

1,492(252)

19,067(255)

12,768(255)

12,656(272)

21,067(246)

11,501(252)

96(41)

July 30

4,504

31,572

27,816

155(18)

1,576(332)

18,819(234)

12,868(271)

12,754(182)

21,133(228)

11,617(258)

88(52)

Average Rate Paid (%)June 25

5.47

6.25

5.49

6.06

6.63

6.83

7.08

7.37

7.71

N.A.

6.54

July 30

5.41

6.05

5.49

5.88

6.19

6.56

6.87

7.12

7.47

N.A.

6.60

Number of Issuing BanksJune 2~5*

340

328

341

102

275

323

337

326

342

338

12

July 30

291

329

335

102

275

324

338

327

344

340

12Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

N.A. - Data not available.1. Estimates are based on data collected by the Federal Reserve from a stratified random sample of about 550 banksand 75 mutual savings banks.2. As of January 1, 1986 Interest rate ceilings were removed from all NOW accounts. Beginning with the January 1986data the NOW account category Includes all NOW accounts, Including those accounts which were subject to a 5.25 per-cent regulatory Interest rate restriction prior to January 1, 1986. Estimates for this category are based on reportsof deposits. The NOW account rate Is reported as a simple annual rate.3. Money market deposit accounts (MMDAs)Deposits with no required minimum maturity but institutions must reservethe right to require at least seven day's notice prior to withdrawal, no restrictions on depositor eligibility, orlimitations on the amount of Interest that may be paid; such accounts may allow up to six transfers per month, nomore than three of which may be draft and may permit unlimited withdrawals by mall, messenger, or in person.Estimates for this category are based on reports of deposits. The MMDA rate is reported as a simple annual rate.4. Savings deposits that, because of restrictions on transactions, do not meet the definition of an MMDA.Estimates for this category are based on reports of deposits. The savings account rate is reported as asimple annual rate.5. All interest-bearing time certificates and open account time deposits with balances of less than $100,000,Including those held in IRAs and Keogh Plan deposits. With the exception of the 7-31 and 32-91 day depositrates, which are reported as simple annual rates, time deposit rates are annual effective yields reflecting themethod of compounding reported by the individual Institutions.6. All IRA/Keogh Plan time deposits regardless of size, type of Instrument in which held, or Interest rate paid.7. Retail repurchase agreements are in denominations of less than $100,000 with maturities of less than 90 daysthat arise from the transfer of direct obligations of, or obligations fully-guaranteed as to principal and Interesthy, the U.S. Government or an agency thereof.


h6_19860821_revision.pdf

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