h6_19970506.pdf

FEDERAL RESERVE statistical release"|^p':~ H.6(508) ''^SSS^''' Tabtel ffttf; MONEY STOCK, LIQUID ASSETS, AND DEBT MEASURES6 R*^w.E--Ti-. Billions off dollars May a. 1997

Date M 1 1 M2 2 M3 L4 DEBT

Seasonally adjusted 1995-Apr. 1150.4 3519.1 4397.5 5432.0 13416.4

May 1145.1 3534.9 4427.6 5465.5 13494.6 Juna 1142.7 3562.9 4463.9 5503.5 13571.3 July 1145.0 3583.1 4495.2 5555.0 13625.5 Aug. 1144.0 3604.4 4527.1 5592.1 13666.2 8ap. 1141.6 3620.1 4550.7 5638.9 13713.6 Oct. 1135.7 3629.8 4567.1 5669.8 13774.1 H O T . 1133.1 3639.3 4580.8 5677.5 13831.3 Dae. 1129.0 3655.0 4594.8 5700.3 13875.3

1996-Jan. 1122.2 3669.9 4622.3 5723.3 13925.4 Fab. 1119.8 3685.0 4655.2 5741.9 13998.7 Mar. 1126.2 3713.9 4691.9 5792.1 14075.6 Apr. 1123.5 3724.5 4708.7 5824.2 14145.7 May 1117.1 3725.6 4731.2 5835.9 14205.5 Juna 1115.5 3741.9 4753.5 5870.0 14265.6 July 1108.8 3750.0 4771.1 5890.0 14338.9 Aug. 1099.8 3762.8 4791.4 5919.9 14396.4 Sap. 1093.2 3775.3 4822.5 5960.6 14445.8 Oct. 1080.2 3787.8 4857.5 5983.1 14508.5 HOT. 1080.0 3809.3 4884.8 6020.9 14574.6 Dae. 1081.0 3833.1 4927.3 6057.3 14624.4

1997-Jan. 1079.7 3849.7 4949.3 6072.4 14665.5 Fab. 1080.6 3866.0 4985.7 6122.3 p 14725.8 p Mar. 1075.2 3882.4 5013.8

Not seasonally adjusted 1995-Apr. 1160.1 3536.9 4408.7 5445.8 13370.2

May 1133.8 3520.9 4413.7 5445.2 13444.4 Juna 1140.8 3560.8 4462.0 5493.0 13527.5 July 1145.6 3586.6 4493.2 5546.7 13573.3 Aug. 1139.3 3603.6 4526.1 5589.5 13619.2 Sap. 1138.5 3613.5 4541.1 5623.6 13678.8 Oct. 1132.9 3621.5 4563.6 5656.9 13740.4 H O T . 1138.7 3643.2 4589.7 5688.7 13816.0 Dae. 1152.8 3675.3 4614.3 5732.2 13875.8

1996-Jan. 1130.1 3673.3 4628.7 5737.4 13906.6 Fab. 1105.6 3668.6 4643.3 5733.9 13961.3 Mar. 1117.7 3715.6 4694.4 5805.0 14045.6 Apr. 1131.2 3741.5 4718.1 5837.2 14108.6 May 1105.2 3709.2 4715.1 5813.7 14158.9 Juna 1114.2 3739.5 4750.8 5856.8 14220.0 July 1109.7 3754.0 4769.2 5881.3 14280.8 Aug. 1096.4 3764.1 4791.9 5919.0 14343.2 8ap. 1090.1 3768.1 4811.3 5943.5 14406.1 Oct. 1076.8 3777.5 4853.3 5970.4 14470.7 HOT. 1085.2 3812.2 4892.9 6031.2 14556.2 Dae. 1103.0 3851.5 4944.4 6085.6 14623.7

1997-Jan. 1086.0 3851.4 4955.0 6085.2 14645.4 Fab. 1066.4 3850.3 4976.8 6117.3 p 14686.3 p Mar. 1067.2 3887.3 5020.6

Footnotes appear on the following p a g e

p preliminary

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

H.6(508) Table 2 MONEY STOCK AND DEBT MEASURES Percent change at seasonally adjusted annual rates

Page 2

Ml M2 M3 DEBP

3 Months from Dc. 1996 TO Mar. 1997

6 Months from Sp. 1996 TO Mar. 1997

12 Months from Mar. 1996 TO Mar. 1997

-2.1

-3.3

-4.5

5.1

5.7

4.5

7.0

7.9

6.9

4.1

4.6

5.2

Thirtssn wasks nding April 28 , 1997 from thlrtaan waaks ndingt Jan. 27, 1997 (13 waaks prsvlous)

Oct. 28, 1996 (26 waaks previous)

Apr. 29, 1996 (52 waaks previous)

-2.4

-3.2

-4.4

5.5

5.7

4.7

7.8

8.0

7.0

1. Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, November 1996 to February 1997, August 1996 to February 1997, and February 1996 to February 1997, respectively.

m^mmmmmmmmmmmmt^mmmmmmmm^^mmm^m^^

Footnotes to Table 1 :

1. Consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) travelers checks of nonbank issuers; (3) demand deposits at all commercial banks other than those due to depository institutions, the U.S. government, and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float; and (4) other checkable deposits (OCDs), consisting of negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at depository institutions, credit union share draft accounts and demand deposits at thrift institutions. Seasonally adjusted M1 is calculated by summing currency, travelers checks, demand deposits, and OCDs, each seasonally adjusted separately.

2. Consists of M1 plus savings deposits (including money market deposit accounts), small-denomination time deposits (time depositsincluding retail RPsin amounts of less than $100,000), and balances in retail money market mutual funds. Excludes individual retirement account (IRA) and Keogh balances at depository institutions and money market funds. Seasonally adjusted M2 is computed by summing savings deposits, small-denomination time deposits, and retail money fund balances, each seasonally adjusted separately, ana adding this result to seasonally adjusted M1.

3. Consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more), balances in institutional money funds, RP liabilities (overnight and term) issued by all depository institutions, and Eurodollars (overnight and term) held by U.S. residents at foreign branches of U.S. banks worldwide and at all banking offices in the United Kingdom and Canada. Excludes amounts held by depository institutions, the U.S. government, money funds, and foreign banks and official institutions. Seasonally adjusted M3 is calculated by summing large time deposits, institutional money fund balances, RP liabilities, and Eurodollars, each seasonally adjusted separately, and adding this result to seasonally adjusted M2.

4. Consists of M3 plus the nonbank public holdings of U.S. savings bonds, short-term Treasury securities, commercial paper and bankers acceptances, net of money market mutual fund holdings of these assets.

5. Debt: The debt aggregate is the outstanding credit market debt of the domestic nonfinancial sectors the federal sector (U.S. government, not including government-sponsored enterprises or federally related mortgage pools) and the nonfederal sectors (state and local governments, households and nonprofit organizations, nonfinancial corporate and nonfarm noncorporate businesses, and farms). Nonfederal debt consists of mortgages, tax-exempt and corporate bonds, consumer credit, bank loans, commercial paper, and other loans. The data, which are derived from the Federal Reserve Board's flow of funds accounts, are break-adjusted (that is, discontinuities in the data have been smoothed into the series) and month-averaged (that is, the data have been derived by averaging adjacent month-end levels), the presentation of the debt data in this release differ, therefore, from the quarterly flow of funds statistics contained in the Federal Reserve releases Z.7 and Z.1. In those releases, published levels of credit market debt are measured on a quarter-end basis and contain discontinuities.

Note: Updated current and historical data for aggregate and component series in the H.6 statistical release are available each week via the web site of the Federal Reserve Board (http://www.bog.frb.fed.us), as well as on the Economic Bulletin Board of the U.S. Commerce Department. Monthly data are available back to January 1959, and weekly data are available back to January 1975 for most series. For information on how to access the Commerce bulletin board, call (202) 482-1986 or toll-free (800) STAT-USA (800-782-8872).


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

Page 3

Seasonally adjusted

ng M1 M2 M3

Period endi ng 13-week 4-week week 13-week 4-week week 13-week 4-week week average average average average average average average average average

1 9 9 7 - F a b . 3 1080 .7 1081 .8 1 0 8 7 . 4 3 8 3 4 . 0 3 8 5 4 . 3 3 8 6 1 . 2 4 9 2 5 . 4 4 9 5 5 . 4 4 9 6 5 . 0 10 1 0 8 1 . 3 1083 .9 1 0 8 3 . 3 3 8 3 8 . 3 3 8 5 9 . 7 3 8 6 1 . 8 4 9 3 3 . 1 4 9 6 3 . 4 4 9 7 5 . 8 17 1 0 8 1 . 2 1082 .9 1 0 7 7 . 0 3 8 4 2 . 9 3 8 6 2 . 5 3 8 6 7 . 8 4 9 4 1 . 3 4 9 7 3 . 2 4 9 9 2 . 4 24 1 0 8 1 . 4 1 0 8 2 . 1 1080 .6 3847 .5 3 8 6 4 . 9 3 8 6 8 . 9 4 9 4 9 . 3 4 9 8 1 . 3 4 9 9 2 . 1

Mar. 3 1080 .6 1080 .2 1 0 7 9 . 8 3 8 5 1 . 1 3 8 6 7 . 3 3 8 7 0 . 5 4 9 5 6 . 6 4 9 8 9 . 5 4 9 9 7 . 8 10 1080 .7 1078 .8 1077 .6 3 8 5 4 . 6 3 8 7 0 . 5 3 8 7 4 . 8 4 9 6 3 . 1 4 9 9 6 . 9 5 0 0 5 . 2 17 1 0 8 0 . 4 1077 .6 1 0 7 2 . 5 3858 .2 3 8 7 2 . 8 3 8 7 6 . 9 4 9 6 9 . 1 5 0 0 0 . 1 5 0 0 5 . 4 24 1079 .5 1074 .5 1 0 6 8 . 1 3861 .7 3 8 7 5 . 7 3 8 8 0 . 6 4 9 7 5 . 5 5 0 0 5 . 3 5 0 1 2 . 7 31 1 0 7 8 . 9 1073 .8 1 0 7 7 . 0 3 8 6 6 . 1 3 8 8 1 . 4 3 8 9 3 . 3 4 9 8 2 . 8 5 0 1 3 . 1 5 0 2 8 . 9

Apr, 7 1077 .6 1070 .9 1 0 6 5 . 9 3 8 6 9 . 9 3 8 8 7 . 0 3 8 9 7 . 2 4 9 8 9 . 6 5 0 2 0 . 2 5 0 3 3 . 7 14 1 0 7 6 . 2 1067 .0 1 0 5 6 . 9 3 8 7 4 . 2 3 8 9 1 . 8 3 8 9 5 . 9 4 9 9 7 . 6 5 0 3 0 . 6 5 0 4 7 . 0 21P 1 0 7 5 . 5 1067 .7 1 0 7 0 . 9 3878 .8 3 9 0 0 . 7 3 9 1 6 . 4 5 0 0 6 . 1 5 0 4 3 . 4 5 0 6 4 . 1 28p 1 0 7 4 . 0 1064 .5 1 0 6 4 . 4 3882 .4 3 9 0 3 . 9 3 9 0 6 . 0 5 0 1 4 . 0 5 0 5 1 . 8 5 0 6 2 . 2

Not seasonally adjusted 1 9 9 7 - F a b . 3 1 0 9 1 . 2 1078 .3 1 0 7 6 . 4 3 8 4 0 . 1 3 8 4 4 . 6 3 8 3 6 . 5 4 9 3 3 . 9 4 9 5 4 . 4 4 9 4 8 . 2

10 1 0 9 0 . 4 1072 .6 1 0 6 9 . 5 3843 .6 3 8 4 1 . 2 3 8 5 7 . 7 4 9 4 1 . 1 4 9 5 5 . 2 4 9 8 1 . 3 17 1 0 8 8 . 5 1068 .5 1 0 6 4 . 4 3 8 4 6 . 4 3 8 4 1 . 6 3 8 5 4 . 2 4 9 4 7 . 7 4 9 6 1 . 5 4 9 8 3 . 2 24 1 0 8 7 . 4 1067 .6 1 0 5 9 . 9 3849 .7 3 8 4 6 . 7 3 8 3 8 . 5 4 9 5 4 . 5 4 9 7 0 . 8 4 9 7 0 . 5

Mar. 3 1 0 8 5 . 1 1066 .2 1 0 7 1 . 0 3 8 5 2 . 4 3 8 5 3 . 3 3 8 6 2 . 9 4 9 6 0 . 7 4 9 8 1 . 8 4 9 9 2 . 2 10 1 0 8 3 . 1 1065 .5 1 0 6 6 . 6 3855 .6 3 8 6 2 . 4 3 8 9 4 . 1 4 9 6 7 . 4 4 9 9 3 . 7 5 0 2 8 . 9 17 1 0 8 0 . 8 1066 .0 1 0 6 6 . 6 3858 .7 3 8 7 1 . 9 3 8 9 2 . 1 4 9 7 3 . 2 5 0 0 4 . 7 5 0 2 7 . 3 24 1 0 7 6 . 9 1064 .5 1 0 5 3 . 8 3 8 6 0 . 2 3 8 8 0 . 3 3 8 7 2 . 1 4 9 7 8 . 2 5 0 1 4 . 4 5 0 0 9 . 2 31 1 0 7 4 . 2 1065.7 1 0 7 5 . 8 3 8 6 3 . 5 3 8 8 7 . 4 3 8 9 1 . 2 4 9 8 4 . 1 5 0 2 1 . 1 5 0 1 8 . 9

Apr. 7 1070 .8 1 0 6 9 . 1 1 0 8 0 . 3 3 8 6 8 . 1 3 8 9 9 . 8 3 9 4 3 . 8 4 9 9 2 . 4 5 0 3 1 . 8 5 0 7 1 . 6 14 1 0 6 9 . 4 1070 .8 1 0 7 3 . 4 3 8 7 3 . 9 3 9 1 3 . 7 3 9 4 7 . 6 5 0 0 0 . 8 5 0 4 7 . 0 5 0 8 8 . 2 21P 1 0 6 9 . 4 1077 .4 1 0 8 0 . 1 3 8 8 0 . 1 3 9 2 8 . 8 3 9 3 2 . 7 5 0 0 9 . 4 5 0 6 2 . 0 5 0 6 9 . 3 28p 1068 .6 1071 .9 1 0 5 3 . 8 3 8 8 4 . 0 3 9 2 3 . 1 3 8 6 8 . 3 5 0 1 5 . 9 5 0 6 1 . 6 5 0 1 7 . 3

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


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

Page 4

Currency1 Travelers checks2 Demand deposits3 Other checkable deposits

At commercial banks4

At thrift institutions5

2 5 6 . 7 2 4 8 . 5

106 .7 108 .0

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

1 0 7 . 5 108 .4 1 1 0 . 2

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

1 0 7 . 6 107 .9 107 .7

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

105 .8 1 0 5 . 2 1 0 4 . 3

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

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

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

1 0 1 . 6 1 0 1 . 9 1 0 1 . 3

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

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

9 9 . 3 9 9 . 2

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

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

Total

Nontransactions components

lnM26 In M3 only7

1995-Nor . Dae.

1 9 9 6 - J a n . Fab . Mar.

Apr. Hay Juna

J u l y Aug. Sap .

O c t . Nov. Dae.

1 9 9 7 - J a n . Fab. Mar.

Wtffc tnfllpq 1997-Mar. 3

10 17 24 31

Apr. 7 14 21p 28p

371.2 372.6

3 7 3 . 0 3 7 3 . 4 3 7 5 . 4

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

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

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

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

401 , 402, 402, 402 . 402 .

4 0 2 . 4 0 2 . 4 0 3 . 4 0 4 .

8 .9 8 .9

8 . 9 8 . 9 8 .9

8 . 8 8 . 7 8 . 7

8 .6 8 . 4 8 .5

8 .6 8 .6 8 .6

8 . 6 8 .6 8 . 5

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

8 .4 a 8 .4 a 8 .4 a 8 .4 a

389 .7 3 9 1 . 1

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

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

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

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

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

403 . 402. 4 0 1 . 399. 405 .

398. 391 . 397. 3 9 3 . 8

3 6 3 . 3 3 5 6 . 5

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

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

308.7 300.4 292.2

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

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

266.2 264.6 260.6 257.9 261.0

256.1 254.5 260.9 257.4

2506.2 2526.0

2547.7 2565.2 2587.8

2600.9 2608.5 2626.4

2641.2 2663.0 2682.1

2707.6 2729.3 2752.0

2770.0 2785.4 2807.2

2790, 2797, 2804, 2812, 2816,

2831, 2839, 2845, 2841.

941 .5 9 3 9 . 8

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

984.2 1005.7 1011.5

1021.1 1028.7 1047.2

1069.8 1075.5 1094.3

1099.6 1119.7 1131.3

1127, 1130. 1128. 1132. 1135.

1136. 1151. 1147. 1156.

1. Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions. 2. Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits. 3. Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government and foreign banks and official

institutions, less cash items in the process of collection and Federal Reserve float. 4. Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. 5. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum of savings deposits (including money market deposit accounts), small time deposits, and retail money fund balances, each seasonally adjusted separately. 7. Sum of large time deposits, institutional money fund balances, RP liabilities (overnight and term) issued by depository institutions, and Eurodollars (overnight and term) of

U.S. addressees, each seasonally adjusted separately. e estimated p preliminary


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

Page 5

Date Savings deposits1 Small-denomination time deposits2 Retail

money funds

Institutional money funds

Large-denomination time

St St commercial thrift

banks4 institutions

deposits3

Date At At commercial thrift

banks institutions Total S t commercial

banks

At thrift

institutions Total

Retail money funds


Large-denomination time

St St commercial thrift

banks4 institutions Total

1995-Nov. 7 6 2 . 4 361 .8 1 1 2 4 . 2 574 .6 3 5 6 . 1 9 3 0 . 7 4 5 1 . 2 2 4 4 . 7 3 4 2 . 9 7 4 . 8 4 1 7 . 7 Dae . 7 7 6 . 0 3 6 1 . 1 1 1 3 7 . 1 576 .0 357 .7 9 3 3 . 7 4 5 5 . 2 2 4 6 . 9 3 4 4 . 7 7 5 . 1 4 1 9 . 8

1 9 9 6 - J a n . 7 9 4 . 5 359 .3 1 1 5 3 . 8 5 7 9 . 4 3 5 4 . 9 9 3 4 . 3 4 5 9 . 6 2 5 0 . 1 3 4 4 . 5 7 6 . 4 4 2 0 . 9 Fab . 8 0 4 . 9 360 .2 1 1 6 5 . 1 5 7 9 . 4 3 5 4 . 7 9 3 4 . 1 4 6 6 . 0 2 5 9 . 7 3 4 9 . 7 7 6 . 5 4 2 6 . 3 Nar . 8 1 9 . 7 360 .5 1 1 8 0 . 2 5 7 8 . 2 3 5 2 . 6 9 3 0 . 8 4 7 6 . 8 2 6 3 . 7 3 5 6 . 8 7 5 . 8 432 .5

Apr. 8 2 5 . 5 3 6 4 . 6 1 1 9 0 . 1 5 7 7 . 5 3 5 2 . 0 9 2 9 . 5 4 8 1 . 4 2 6 3 . 4 3 5 9 . 4 7 6 . 0 4 3 5 . 4 Nay 8 2 9 . 3 3 6 6 . 3 1 1 9 5 . 6 5 7 7 . 0 3 5 1 . 5 9 2 8 . 4 4 8 4 . 5 2 6 3 . 6 3 6 7 . 1 7 5 . 4 4 4 2 . 5 Juna 8 3 7 . 4 366 .7 1 2 0 4 . 1 578 .0 3 5 0 . 8 9 2 8 . 8 4 9 3 . 6 2 6 9 . 7 3 7 3 . 3 7 5 . 6 4 4 8 . 9

J u l y 8 4 4 . 2 366 .8 1 2 1 1 . 0 5 8 0 . 3 3 5 0 . 2 9 3 0 . 5 4 9 9 . 6 2 7 4 . 0 3 7 8 . 7 7 6 . 5 4 5 5 . 2 Aug. 8 5 7 . 1 365 .6 1 2 2 2 . 7 5 8 2 . 9 3 5 1 . 3 9 3 4 . 1 5 0 6 . 1 2 7 8 . 8 3 8 2 . 1 7 7 . 2 4 5 9 . 3 Sap . 8 6 5 . 7 365 .8 1 2 3 1 . 5 5 8 5 . 4 3 5 2 . 1 9 3 7 . 5 5 1 3 . 2 2 8 5 . 2 3 8 8 . 4 7 8 . 4 4 6 6 . 8

O c t . 8 7 9 . 3 3 6 7 . 1 1 2 4 6 . 3 5 8 7 . 4 3 5 3 . 4 9 4 0 . 8 5 2 0 . 5 2 8 8 . 1 4 0 0 . 4 7 8 . 8 4 7 9 . 2 N O T . 8 9 2 . 7 366 .3 1 2 5 9 . 0 5 8 9 . 9 3 5 3 . 2 9 4 3 . 2 5 2 7 . 1 2 9 2 . 0 4 0 2 . 3 7 9 . 4 4 8 1 . 7 Dae. 9 0 3 . 9 3 6 7 . 1 1 2 7 1 . 0 5 9 2 . 0 3 5 2 . 4 9 4 4 . 4 5 3 6 . 6 2 9 9 . 3 4 1 0 . 4 7 9 . 2 4 8 9 . 6

1 9 9 7 - J a n . 9 1 4 . 0 368 .5 1 2 8 2 . 5 5 9 2 . 5 3 5 2 . 5 9 4 5 . 0 5 4 2 . 4 2 9 6 . 3 4 1 0 . 3 8 1 . 1 4 9 1 . 4 Fab . 9 2 1 . 1 369 .4 1 2 9 0 . 5 5 9 3 . 4 3 5 2 . 8 9 4 6 . 2 5 4 8 . 7 3 0 5 . 4 4 1 6 . 0 8 1 . 9 4 9 7 . 9 Mar. 9 3 4 . 2 3 7 0 . 1 1 3 0 4 . 3 5 9 5 . 8 3 4 9 . 3 9 4 5 . 1 5 5 7 . 8 3 1 1 . 8 4 2 4 . 8 8 2 . 0 506 .7

1997-Nar . 3 9 2 5 . 1 368 .0 1 2 9 3 . 0 5 9 5 . 4 3 5 0 . 4 9 4 5 . 8 5 5 1 . 9 3 1 1 . 7 4 1 9 . 9 8 1 . 7 501 .6 10 9 3 0 . 7 364 .5 1 2 9 5 . 3 5 9 6 . 0 3 4 9 . 4 9 4 5 . 4 5 5 6 . 6 3 1 3 . 4 4 2 3 . 3 8 1 . 7 505 .0 17 9 3 5 . 1 368 .4 1 3 0 3 . 5 5 9 5 . 8 3 4 9 . 4 9 4 5 . 2 555 .7 3 1 1 . 7 4 2 3 . 4 8 1 . 7 5 0 5 . 1 24 9 3 6 . 0 3 7 3 . 3 1 3 0 9 . 3 5 9 5 . 8 3 4 9 . 3 9 4 5 . 1 5 5 8 . 2 3 1 4 . 1 4 2 5 . 5 8 1 . 8 507 .3 31 9 3 3 . 7 374 .7 1 3 0 8 . 4 5 9 5 . 4 3 4 9 . 2 9 4 4 . 5 5 6 3 . 4 3 0 7 . 9 4 2 8 . 4 8 2 . 8 511 .3

Apr. 7 9 4 8 . 6 371 .0 1 3 1 9 . 6 5 9 7 . 4 3 4 7 . 4 9 4 4 . 8 5 6 6 . 9 3 1 1 . 2 4 3 0 . 0 8 3 . 2 5 1 3 . 2 14 9 5 1 . 3 371 .7 1 3 2 2 . 9 5 9 8 . 0 3 4 7 . 8 9 4 5 . 9 5 7 0 . 2 3 1 4 . 9 4 3 6 . 4 8 2 . 9 5 1 9 . 3 21p 9 5 3 . 5 373 .5 1 3 2 7 . 0 5 9 8 . 7 3 4 8 . 0 9 4 6 . 7 5 7 1 . 8 3 0 9 . 9 4 3 7 . 2 8 2 . 1 519 .2 28p 9 4 6 . 5 377 .2 1 3 2 3 . 7 5 9 9 . 4 3 4 8 . 2 9 4 7 . 7 5 7 0 . 3 3 1 2 . 6 4 4 0 . 6 8 1 . 9 522 .5

1. 2.

3. 4.

Savings deposits include money market deposit accounts. " Small-denomination time depositsincluding retail RPs-are those issued in amounts of less than $100,000. All IRA and Keogh account balances at commercial banks and thrifts are subtracted from small time deposits. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities. Large-denomination time deposits at commercial banks less those held by money markot mutual funds, depository institutions, U.S. government, and foreign banks and official institutions.

P preliminary


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

Page 6

Date RPs

1395-Hov. Dae .

1 9 9 6 - J a n . F a b . Mar.

Apr. May Juna

J u l y Aug. Sap .

Oct . Nov. Dae.

1 9 9 7 - J a n . Fab. Mar.

Iff tfc tadiDfl 1997-Mar.

[1 Eurodollars2 Non-M3 Components of L Debt components6

Eurodollars2

Savings bonds Short-term Treasprv securities3

Bankers acceptances4 Commercial paper* Federal debt Non-Federal debt

TST75 $1.5 15171 17175 m m T B 3*35. ifli95.S 1 8 2 . 1 9 1 . 0 1 8 4 . 8 4 6 9 . 7 1 1 . 7 4 3 9 . 3 3 6 3 8 . 8 10236 .6

1 8 7 . 2 9 4 . 2 1 8 5 . 0 4 6 4 . 3 1 1 . 6 4 4 0 . 0 3 6 3 9 . 6 10285 .8 1 8 8 . 9 9 5 . 4 1 8 5 . 2 4 4 8 . 1 1 0 . 5 4 4 3 . 0 3 6 5 8 . 0 10340 .7 1 8 7 . 8 9 4 . 0 1 8 5 . 4 4 5 8 . 4 1 0 . 1 4 4 6 . 3 3 6 8 5 . 1 10390 .5

1 8 8 . 9 9 6 . 5 1 8 5 . 8 4 6 0 . 0 1 0 . 4 4 5 9 . 3 3 6 9 8 . 0 10447 .7 2 0 2 . 7 9 7 . 0 1 8 6 . 1 4 3 9 . 6 1 1 . 0 4 6 8 . 0 3 7 0 4 . 3 1 0 5 0 1 . 2 1 9 5 . 2 9 7 . 8 1 8 6 . 4 4 4 8 . 5 1 1 . 5 4 7 0 . 1 3 7 1 0 . 7 10554 .9

1 9 4 , 0 9 7 . 9 186 .7 4 4 7 . 6 1 1 . 6 4 7 3 . 0 3 7 2 9 . 4 10609 .5 1 9 2 . 2 9 8 . 4 1 8 6 . 9 4 5 2 . 4 1 1 . 4 4 7 7 . 7 3 7 4 3 . 4 1 0 6 5 3 . 1 1 9 4 . 0 101 .2 1 8 7 . 1 4 5 7 . 7 1 1 . 3 4 8 2 . 0 3 7 4 6 . 4 1 0 6 9 9 . 3

1 9 5 . 3 1 0 7 . 1 1 8 7 . 1 4 4 7 . 6 1 1 . 3 4 7 9 . 6 3 7 5 8 . 2 10750 .4 1 9 4 . 3 107 .6 187 .0 4 5 4 . 3 1 1 . 6 4 8 3 . 2 3 7 7 1 . 4 1 0 8 0 3 . 3 1 9 2 . 7 112 .7 1 8 7 . 0 4 3 5 . 7 1 1 . 8 4 9 5 . 5 3 7 8 0 . 4 1 0 8 4 4 . 1

1 9 5 . 6 116 .4 1 8 6 . 7 4 1 5 . 8 1 1 . 5 5 0 9 . 1 3 7 7 8 . 6 1 0 8 8 7 . 0 1 9 8 . 6 117 .8 1 8 6 . 4 p 4 2 0 . 5 p 1 2 . 1 p 5 1 7 . 5 p 3 7 8 4 . 2 p 10941 .6 p 1 9 6 . 3 116 .5

1 9 5 . 5 118 .5 1 9 4 . 2 117 .7 1 9 5 . 6 1 1 6 . 1 1 9 5 . 2 115 .6 2 0 0 . 6 115 .8

1 9 5 . 3 116 .8 1 9 8 . 1 118 .7 1 9 8 . 6 1 2 0 . 1 1 9 8 . 1 123 .0

3 10 17 24 31

Apr. 7 14 21p 28p

1. 2.

4. 5. 6.

Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds. Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United Kingdom and Canada, excluding those held by depository institutions and by money funds. Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal Reserve Banks, money market mutual funds, and foreign entities. Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds. Total commercial paper less commercial paper held by money market mutual funds. Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities.

p preliminary


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

Page 7

Date Currency1 Travelers checks2

Demand deposits3

Other checkable deposits Nontransactions components

At commercial banks4

At thrift institutions5 Total lnM2* In M3 only

7

1995-Nov. Dae .

371 .6 376 .2

8 . 7 8 . 5

3 9 5 . 6 4 0 7 . 3

2 5 5 . 6 2 5 1 . 6

1 0 7 . 1 1 0 9 . 2

3 6 2 . 7 3 6 0 . 8

2 5 0 4 . 5 2 5 2 2 . 6

9 4 6 . 5 9 3 9 . 0

1 9 9 6 - J a n . Fab . Mar.

371 .7 370 .9 374 .3

8 . 5 8 . 5 8 . 6

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

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

1 0 7 . 3 1 0 6 . 2 109 .8

3 5 1 . 3 3 3 8 . 4 337.8

2543.2 2562.9 2597.9

955.4 974.8 978.8

Apr. May Juna

375.8 377.5 380.4

8.6 8.6 8.9

4 0 5 . 3 398 .7 4 0 9 . 2

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

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

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

2610.3 2604.0 2625.4

976.6 1005.9 1011.2

July Aug. Sap.

383.7 385.8 386.8

9 . 1 9 . 0 8 . 8

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

2 0 0 . 8 192 .8 186 .7

1 0 5 . 8 1 0 4 . 5 103 .9

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

2644.3 2667.8 2678.1

1015.2 1027.8 1043.2

O c t . N O T . Dae.

388 .9 392 .9 397 .9

8 . 6 8 . 4 8 . 3

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

1 7 6 . 9 171 .9 1 7 3 . 5

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

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

2700.8 2727.0 2748.5

1075.8 1080.7 1092.9

1 9 9 7 - J a n . Fab. Mar.

395 .6 397 .7 4 0 1 . 0

8 . 2 8 . 3 8 . 2

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

174 .8 165 .6 160 .9

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

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

2765.4 2783.9 2820.1

1103.6 1126.6 1133.4

Wttft tatting 1997-Mar. 3

10 17 24 31

398. 401. 400, 400, 401,

8.3 8.3 8.2 8.2 8.2

397, 394. 397. 386. 401,

164. 159. 158. 160. 165.

101.8 103.1 101.5 98.4 100.1

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

2791.9 2827.6 2825.5 2818.3 2815.4

1129, 1134. 1135. 1137, 1127,

Apr. 7 14 21p 28p

404. 403. 403. 402.

8.2 8.2 8.2 8.2

404. 400, 400, 382.

159.3 160.8 168.5 164.1

104.0 100.5 100.5 96.5

263.3 261.3 268.9 260.6

2863, 2874, 2852, 2814,

1127, 1140, 1136. 1148.

1. Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions. 2. Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits. 3. Demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government and foreign banks and official

institutions, less cash items in the process of collection and Federal Reserve float. 4. Consists of NOW and ATS balances at commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations. 5. Consists of NOW and ATS balances at thrifts, credit union share draft balances, and demand deposits at thrifts. 6. Sum of savings deposits (including money market deposit accounts), small time deposits, and retail money fund balances. 7. Sum of large time deposits, institutional money fund balances, RP liabilities (overnight and term) issued by depository institutions, and Eurodollars (overnight and term) of

U.S. addressees. e estimated p preliminary


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

Page 8

Savings deposits1 Small-denomination time deposits2 Retail money funds


Large-denomination time deposits3

Date At commercial

banks

At thrift

institutions Total

At commercial

banks At

. thrift institutions

Total

Retail money funds

Institutional money funds At

commercial banks4

At thrift

institutions Total

1 9 9 5 - M O T , Dae.

7 6 4 . 2 7 7 5 . 3

362 .7 3 6 0 . 8

1126 .9 1 1 3 6 . 1

5 7 3 . 2 5 7 3 . 8

3 5 5 . 2 3 5 6 . 3

9 2 8 . 4 9 3 0 . 1

4 4 9 . 2 4 5 6 . 3

2 4 5 . 6 2 4 8 . 2

3 4 6 . 5 3 4 5 . 7

7 5 . 6 7 5 . 4

4 2 2 . 1 4 2 1 . 1

1 9 9 6 - J a n . Fab . Mar.

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

3 5 7 . 4 357 .9 360 .6

1147 .6 1157 .8 1180 .7

5 7 8 . 6 5 7 9 . 6 5 7 9 . 6

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

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

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

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

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

7 5 . 7 7 6 . 2 7 5 . 6

4 1 7 . 2 4 2 4 . 4 4 3 1 . 2

Apr. May Juna

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

3 6 5 . 1 365 .7 367 .7

1191 .7 1193 .7 1207 .6

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

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

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

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

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

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

7 5 . 3 7 5 . 8 7 5 . 7

4 3 1 . 6 445 .0 449 .4

m

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

3 6 8 . 1 366 .8 3 6 6 . 2

1 2 1 5 . 1 1226 .8 1232 .8

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

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

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

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

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

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

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

452 .7 4 5 8 . 5 466 .4

O c t . MOT. Dae.

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

3 6 6 . 9 3 6 7 . 1 366 .7

1245 .7 1261 .5 1269 .6

586 .7 5 8 8 . 5 5 8 9 . 8

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

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

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

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

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

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

484 .7 487 .2 491 .4

1 9 9 7 - J a n . Fab. Mar.

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

366 .5 3 6 7 . 1 370 .5

1275 .4 1282 .4 1305 .6

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

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

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

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

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

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

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

4 8 7 . 1 495 .9 505 .8

WttK tDdlPfl 1997-Mar. 3

10 17 24 31

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

365 .8 369 .9 370 .7 371 .2 371 .5

1285 .6 1314 .3 1311 .5 1 3 0 2 . 1 1297 .3

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

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

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

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

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

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

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

501 .7 SOS. 4 505 .6 507 .0 506 .4

Apr. 7 14 a i p 28p

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

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

1338 .6 1343 .4 1325 .7 1 2 9 6 . 1

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

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

9 4 8 . 4 9 4 8 . 8 9 4 9 . 3 9 4 9 . 9

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

3 1 1 . 0 314 .7 3 0 6 . 3 3 0 7 . 8

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

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

506 .9 5 1 3 . 1 514 .5 519 .8

1. Savings deposits include money market deposit accounts. 2. Small-denomination time depositsincluding retail RPsare those issued in amounts of less than $100,000. All IRA and Keogh account balances at commer-

cial banks and thrifts are subtracted from small time deposits. 3. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities. 4. Large-denomination time deposits at commercial banks less those held by money market mutual funds, depository institutions, U.S. government, and foreign

banks and official institutions.

p preliminary


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

Page 9

Date RPs1 Non-M3 Components of L Debtcomponents6

Date At commercial banks

At thrift institutions

Eurodollars2 Total Savings bonds

Short-term Treasury securities3

Bankers acceptances4

Commercial paper6 Federal debt

Non-Federal debt

1995-Nov. Dae.

140.3 132.6

46.3 45.4

186.6 92 .1 178.0 91.8

184.3 184.8

462.0 482.9

12.5 12 .1

440 .1 438 .1

3635.9 3645.9

10180.1 10229.8

1996-Jan. Pah. Mar.

140.4 140.9 139.8

45.0 45.3 45.6

185.4 95.4 186.2 96.5 185.4 95.0

185.1 185.4 185.7

470.0 451.8 470.7

12.3 10.6 10.0

441.3 442.7 444.3

3634.4 3655.5 3698.1

10272.2 10305.8 10347.4

Apr. May Juna

139.9 153.9 149.2

47.9 50.8 51.0

187.8 95.8 204.7 96.0 200.2 97 .1

186.1 186.3 186.4

461.4 430 .1 441.1

10.5 10.8 11.5

461 .1 471.4 467.0

3699.5 3692.1 3698.1

10409.1 10466.9 10522.0

July Aug. Sap.

144.5 144.1 146.8

50.4 49.6 49.2

194.9 96.4 193.7 97.6 196.0 100.4

186.6 186.7 186.7

446.9 456.0 451.0

10.9 10.8 11.3

467.8 473.6 483 .1

3708.3 3730.9 3736.1

10572.4 10612.3 10670.0

Oct. Nov. Dae.

149.8 145.5 141.5

48.5 47.6 46.0

198.3 108.1 193.1 107.8 187.5 113.5

186.8 186.9 187.0

432.8 454.4 448.3

11.4 11.8 12.2

486 .1 485.2 493.8

3740.9 3771.4 3787.9

10729.9 10784.8 10835.8

1997-Jan. Fab. Mar.

147.9 149.4 147.5

45.7 46.6 46 .1

193.6 118.1 196.0 119.1 193.6 117.6

186.8 186.6 p

421.1 424.1 p

12 .1 12.3 p

510.3 517.4 p

3773.4 3783.0 p

10872.1 10903.3 p

Waak andino 1997-Mar. 3

10 17 24 31

145.1 144.0 147.9 148.7 150.4

46.7 46.8 46 .1 45.8 45.5

191.8 110.9 190.8 117.7 194.0 117.2 194.5 116.6 195.9 118.0

Apr. 7 14 21p 28p

146.7 149.6 151.8 152.2

46.3 46 .1 45.9 46 .1

193.0 116.8 195.7 117.1 197.6 118.2 198.2 123.1

1. 2.

3.

4. 5. 6.

Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds. Overnight and term Eurodollars issued to U.S. addressees by foreign branches of U.S. banks worldwide and by all banking offices in the United Kingdom and Canada, excluding those held by depository institutions and by money funds. Consists of U.S. Treasury bills and coupons with remaining maturities of less than 12 months held by other than depository institutions, Federal Reserve Banks, money market mutual funds, and foreign entities. Net of bankers acceptances held by accepting banks, Federal Reserve Banks, foreign official institutions, Federal Home Loan Banks, and money market mutual funds. Total commercial paper less commercial paper held by money market mutual funds. Debt data are on a monthly average basis, derived by averaging adjacent end-of-month levels, and have been adjusted to remove discontinuities.

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

H.6(508) Table 6 MEMORANDUM ITEMS Billions of dollars, not seasonally adjusted

Page 10

Demand deposits at banks due to

Time and savings deposits due to foreign

banks and official

institutions

u.s government deposits IRAandKeogti Accounts

Date Foreign commercial

banks Foreign official

institutions

Time and savings deposits due to foreign

banks and official

institutions

Demand deposits at commercial

banks

Balance at

Federal Reserve

Note balances at depository institutions

Total cash

balance

Time and savinas

deposits at commercial

banks

At commercial

banks At

thrift institutions

At money market funds

Total

1995-Nov. 8 .3 1.6 12 .4 2 .9 5 .4 8 .2 16 .5 1.6 150 .7 110 .5 a 7 4 . 9 3 3 6 . 1 a Dae . 8 .4 1.5 12 .5 5 .9 6 .5 14 .6 2 7 . 1 l . l 150 .5 1 1 0 . 1 a 7 5 . 5 3 3 6 . 1 a

1 9 9 6 - J a n . 8 .4 1.5 13 .0 4 . 3 6 .2 15 .9 2 6 . 5 1.2 150 .7 109 .8 a 7 6 . 6 3 3 7 . 1 a Fab . 8 . 2 1.5 13 .5 3 .0 5 .0 1 3 . 2 2 1 . 2 1.3 150 .8 109 .6 a 7 8 . 0 338 .4 a Mar. 8 .0 1.4 14 .0 4 . 0 5 .7 10 .8 2 0 . 6 1 .2 1 5 1 . 0 109 .5 a 7 9 . 6 340 .0 a

Apr . 7 . 8 1.4 14 .0 5 .8 7 . 2 11 .6 2 4 . 6 3 . 2 1 5 1 . 2 109 .3 a 7 9 . 5 340 .0 a May 8 . 3 1.5 13 .5 2 .8 5 .7 1 0 . 1 18 .7 4 . 5 1 5 1 . 3 109 .0 a 7 8 . 1 338 .4 a Juna 8 .9 1.5 13 .0 4 . 8 6 . 1 14 .5 2 5 . 4 4 . 4 151 .6 108 .8 a 7 6 . 5 336 .9 a

J u l y 9 . 1 1.6 13 .2 2 .9 5 .3 17 .4 2 5 . 7 4 . 6 151 .9 108 .6 a 7 6 . 6 a 3 3 7 . 1 a Aug. 7 . 9 1.5 13 .6 2 .7 5 . 1 1 2 . 2 2 0 . 1 4 . 6 151 .8 108 .5 a 7 6 . 7 a 337 .0 a S a p . 8 . 5 1.4 1 4 . 1 4 .6 6 . 2 2 0 . 5 3 1 . 3 4 . 6 1 5 1 . 4 108 .4 a 7 6 . 7 a 336 .6 a

O c t . 8 .5 1.4 1 5 . 1 3 .0 5 .0 11 .0 19 .0 4 . 6 1 5 1 . 3 108 .4 a 7 6 . 8 a 336 .5 a Nov. 8 .4 1.4 16 .3 3 .3 5 .0 11 .6 1 9 . 9 4 . 6 1 5 1 . 4 108 .4 a 7 6 . 9 a 336 .6 a Dae . 8 .3 1.4 17 .6 4 .3 5 .7 11 .9 2 1 . 9 4 . 6 1 5 1 . 3 108 .4 a 7 7 . 0 a 336 .7 a

1 9 9 7 - J a n . 8 . 3 1.4 18 .4 4 . 1 6 .2 2 0 . 2 30 .5 4 . 7 151 .2 108 .4 a 7 7 . 0 a 336 .7 a Fab . 8 . 3 1.4 18 .4 2 . 8 5 . 1 14 .7 2 2 . 6 4 . 6 1 5 1 . 2 108 .4 a 7 7 . 2 a 336 .8 a Mar. 8 . 3 1.4 18 .4 3 . 1 5 .9 17 .8 2 6 . 7 4 . 6 1 5 1 . 2 108 .4 a 7 7 . 4 a 3 3 7 . 1 a

Wt ffc fading 1997-Mar. 3 8 .3 1.5 18 .4 2 . 9 5 . 1 13 .7 2 1 . 7 4 . 6

10 8 . 3 1.4 18 .4 2 .6 5 .2 1 0 . 1 17 .9 4 . 6 17 8 .3 1.4 18 .4 4 .6 5 .9 9 .6 2 0 . 1 4 .6 24 8 .3 1.4 18 .4 2 . 4 7 . 0 2 7 . 9 3 7 . 3 4 . 6 31 8 . 3 1.5 18 .4 2 .6 5 .6 2 5 . 3 3 3 . 5 4 . 6

Apr. 7 8 .3 1.4 18 .4 3 .0 5 . 1 14 .8 2 2 . 9 4 . 6 14 8 .3 1.4 18 .4 3 .7 5 .0 8 .2 1 7 . 0 4 .6 21P 8 .3 1.4 18 .4 8 .3 8 .3 2 3 . 6 4 0 . 2 4 .6 28p 8 .3 1.4 18 .4 6 .4 2 2 . 6 2 2 . 8 51 .8 4 .6

e estimated p preliminary


Board of Governors of the Federal Reserve System Washington, DC 20551-0001 OFFICIAL BUSINESS

First Class


h6_19970506.pdf

Documents

following p

waaks previous

waaks prsvlous

g e p preliminary digitized

m3 l4 debt

federal reserve bank

federal reserve banks

debt measures6 r