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FEDERAL RESERVE statistical release

H.6 (508)
Table 1
MONEY STOCK AND DEBT MEASURES For release at 4:30 p.m. Eastern Time

Billions of dollars May 4, 2000

Date M1 1 M2 2 M33 DEBT4

Seasonally adjusted
1998-Apr. 1081.7 4152.9 5594.7 15563.0
May 1076.5 4175.0 5638.3 15643.0
June 1077.9 4200.3 5682.6 15728.3
July 1076.9 4218.9 5703.6 15814.4
Aug. 1073.1 4243.0 5762.2 15896.8
Sep. 1078.2 4285.8 5824.4 15974.0
Oct. 1084.7 4327.3 5887.8 16058.4
Nov. 1093.7 4364.3 5945.2 16151.3
Dec. 1097.4 4397.0 5996.9 16230.9

1999-Jan. 1096.0 4422.4 6028.7 16316.4


Feb. 1094.3 4447.7 6078.0 16407.0
Mar. 1101.4 4463.4 6087.8 16523.7
Apr. 1107.2 4490.4 6123.7 16627.2
May 1101.8 4513.1 6156.3 16700.2
June 1100.2 4531.0 6187.3 16778.0
July 1099.6 4552.7 6210.8 16858.9
Aug. 1098.7 4569.9 6228.4 16956.0
Sep. 1096.0 4589.1 6254.6 17059.3
Oct. 1101.1 4605.3 6302.9 17148.7
Nov. 1109.4 4624.2 6379.3 17216.5
Dec. 1123.8 4652.2 6469.3 17314.8

2000-Jan. 1121.1 4675.7 6513.2 17401.2


Feb. 1105.7 4684.9 6528.5 17467.8 p
Mar. 1111.5 4719.8 6594.7

Not seasonally adjusted

1998-Apr. 1087.8 4184.6 5624.0 15536.9


May 1070.9 4154.2 5622.0 15601.0
June 1075.3 4187.3 5666.3 15684.3
July 1074.4 4208.1 5678.9 15754.4
Aug. 1069.5 4237.8 5747.4 15838.2
Sep. 1070.9 4272.8 5801.8 15921.5
Oct. 1077.6 4311.6 5869.9 16005.6
Nov. 1098.2 4367.6 5955.4 16125.0
Dec. 1121.3 4422.2 6026.5 16227.8

1999-Jan. 1104.0 4433.0 6043.2 16297.9


Feb. 1085.2 4443.0 6091.3 16372.5
Mar. 1097.4 4481.3 6115.7 16503.5
Apr. 1113.5 4528.3 6160.0 16597.9
May 1096.4 4489.0 6137.4 16651.7
June 1098.3 4515.3 6167.7 16727.9
July 1097.7 4538.6 6177.8 16795.6
Aug. 1093.5 4560.1 6206.5 16897.6
Sep. 1087.1 4572.7 6224.9 17007.7
Oct. 1095.1 4590.5 6282.4 17096.6
Nov. 1112.8 4626.6 6390.8 17192.7
Dec. 1148.3 4680.5 6504.4 17313.2

2000-Jan. 1127.8 4686.2 6529.6 17386.3


Feb. 1097.2 4683.0 6547.9 17439.6 p
Mar. 1108.3 4740.6 6628.0

Footnotes appear on the following page

p preliminary
Components may not add to totals due to rounding.
Page 2
H.6 (508)
Table 2
MONEY STOCK AND DEBT MEASURES
Percent change at seasonally adjusted annual rates

M1 M2 M3 DEBT1

3 Months from Dec. 1999 TO Mar. 2000 -4.4 5.8 7.8 5.8

6 Months from Sep. 1999 TO Mar. 2000 2.8 5.7 10.9 6.0

12 Months from Mar. 1999 TO Mar. 2000 0.9 5.7 8.3 6.5

Thirteen weeks ending April 24 , 2000


from thirteen weeks ending:
Jan. 24, 2000 (13 weeks previous) -2.4 6.0 8.4

Oct. 25, 1999 (26 weeks previous) 2.3 5.7 10.3

Apr. 26, 1999 (52 weeks previous) 0.9 5.6 8.0

1. Growth rates for debt are based on periods beginning and ending one month earlier than for the monetary aggregates, namely, November 1999 to February 2000, August 1999 to February 2000,
and February 1999 to February 2000, respectively.
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 deposits—including retail RPs—in 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, and 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. 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: Current and historical H.6 data are available each week on the Federal Reserve Board's web site (http://www.federalreserve.gov/). Monthly data are available back to
January 1959, and weekly data are available back to January 1975 for most series. For information about individual copies or subscriptions, contact Publications Services
at the Federal Reserve Board (phone 202-452-3245, fax 202-728-5886). For paid electronic access to current and historical data, call STAT-USA at 1-800-782-8872 or
202-482-1986.
Page 3
H.6 (508)
Table 3
MONEY STOCK MEASURES
Billions of dollars

Seasonally adjusted

M1 M2 M3
Period ending
13-week 4-week week 13-week 4-week week 13-week 4-week week
average average average average average average average average average
2000-Jan. 31 1118.2 1118.2 1115.2 4651.4 4677.2 4679.7 6456.1 6512.2 6524.3

Feb. 7 1118.3 1115.6 1106.8 4657.2 4681.9 4690.5 6468.7 6518.4 6524.2
14 1117.8 1111.2 1102.3 4661.7 4683.3 4679.4 6479.4 6521.4 6519.8
21 1117.3 1107.6 1106.1 4665.8 4683.4 4683.9 6490.4 6525.8 6534.7
28 1117.1 1105.6 1107.1 4669.9 4684.0 4682.0 6501.2 6526.6 6527.6

Mar. 6 1116.8 1105.8 1107.7 4674.7 4685.6 4697.1 6514.3 6537.8 6569.2
13 1116.0 1105.3 1100.1 4679.6 4693.0 4708.8 6526.2 6559.0 6604.4
20 1115.3 1106.8 1112.2 4685.3 4704.9 4731.8 6535.1 6574.2 6595.7
27 1113.6 1108.5 1113.9 4690.7 4716.9 4730.0 6542.6 6593.0 6602.5

Apr. 3 1112.2 1114.1 1130.2 4696.0 4726.7 4736.2 6548.4 6601.4 6602.8
10 1111.1 1114.7 1102.3 4701.9 4736.4 4747.6 6557.7 6605.3 6620.2
17p 1110.5 1114.5 1111.7 4708.7 4744.0 4762.0 6567.3 6614.5 6632.4
24p 1110.9 1117.4 1125.5 4715.7 4755.1 4774.6 6576.8 6623.9 6640.2

Not seasonally adjusted

2000-Jan. 31 1129.9 1120.4 1109.8 4665.1 4682.2 4649.4 6477.2 6525.9 6505.9

Feb. 7 1129.7 1111.1 1098.2 4670.8 4678.2 4696.7 6491.1 6526.9 6547.1
14 1128.4 1102.9 1091.3 4674.7 4673.8 4684.1 6502.8 6528.0 6550.2
21 1127.1 1098.7 1095.3 4678.9 4676.7 4676.6 6514.3 6537.7 6547.4
28 1125.2 1096.5 1101.1 4682.7 4682.4 4672.0 6525.1 6546.6 6541.5

Mar. 6 1124.1 1098.2 1105.1 4687.3 4690.0 4727.3 6537.8 6563.3 6613.9
13 1122.0 1099.3 1095.8 4692.4 4703.5 4738.1 6549.6 6588.9 6652.8
20 1118.9 1102.2 1106.7 4697.3 4721.6 4749.1 6558.4 6609.0 6627.7
27 1114.2 1104.5 1110.3 4701.1 4736.5 4731.3 6565.5 6627.9 6617.3

Apr. 3 1109.8 1113.6 1141.5 4706.8 4750.7 4784.4 6572.7 6635.3 6643.5
10 1108.1 1118.2 1114.2 4715.8 4773.8 4830.2 6585.2 6648.7 6706.3
17p 1108.3 1123.0 1126.1 4726.6 4796.8 4841.2 6597.9 6669.3 6710.0
24p 1109.5 1127.4 1127.8 4736.8 4813.6 4798.5 6609.5 6679.9 6659.6

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.
Components may not add to totals due to rounding.
Page 4
H.6 (508)
Table 4
SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars

Other checkable deposits


Date Currency 1 Travelers checks2 Demand deposits3
At commercial banks4 At thrift Total
institutions5
1998-Nov. 456.7 8.3 379.1 145.3 104.3 249.7
Dec. 459.5 8.2 379.3 145.1 105.2 250.3

1999-Jan. 463.0 8.2 374.0 147.0 103.9 250.8


Feb. 467.4 8.1 371.3 142.8 104.6 247.5
Mar. 471.5 8.2 371.9 144.2 105.5 249.7

Apr. 475.6 8.2 371.6 146.1 105.8 251.8


May 480.0 8.3 366.1 142.2 105.2 247.4
June 483.5 8.8 360.8 142.0 105.1 247.2

July 487.3 9.1 360.2 138.0 104.9 242.9


Aug. 491.2 8.9 356.6 136.9 105.1 242.0
Sep. 495.3 8.7 351.1 136.5 104.4 240.8

Oct. 499.3 8.4 353.1 136.4 103.9 240.3


Nov. 504.3 8.2 355.7 137.6 103.6 241.2
Dec. 515.6 8.3 355.9 141.3 102.7 244.0

2000-Jan. 524.3 8.2 345.5 141.6 101.6 243.2


Feb. 518.2 8.1 338.3 137.3 103.8 241.1
Mar. 517.0 8.2 343.0 136.7 106.7 243.4

Week ending
2000-Feb. 28 517.1 8.1 340.6 138.3 103.0 241.2

Mar. 6 516.6 8.1 339.8 135.9 107.4 243.2


13 516.6 8.2 335.6 133.6 106.1 239.8
20 516.9 8.2 344.5 136.2 106.4 242.6
27 517.4 8.2 344.4 137.6 106.3 243.9

Apr. 3 517.5 8.3 353.7 142.5 108.3 250.8


10 517.7 8.3 e 331.2 135.9 109.3 245.2
17p 517.9 8.3 e 340.2 138.0 107.4 245.3
24p 518.5 8.3 e 347.0 143.7 108.1 251.7

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.

e estimated p preliminary
Components may not add to totals due to rounding.
Page 5
H.6 (508)
Table 5
SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars

Savings deposits 1 Small-denomination time deposits2


Retail Total
Date money Non-M1 M2
At commercial At thrift At commercial At thrift funds
banks institutions Total banks institutions Total

1998-Nov. 1168.0 410.7 1578.7 628.3 327.3 955.6 736.3 3270.6


Dec. 1184.8 413.8 1598.6 626.1 325.6 951.7 749.4 3299.6

1999-Jan. 1198.6 419.2 1617.7 622.6 324.3 947.0 761.7 3326.4


Feb. 1212.6 426.0 1638.6 618.6 322.5 941.1 773.7 3353.4
Mar. 1217.3 429.9 1647.2 616.9 320.4 937.3 777.6 3362.0

Apr. 1230.9 431.5 1662.4 616.0 319.3 935.2 785.6 3383.1


May 1242.4 442.0 1684.3 616.2 317.7 933.9 793.0 3411.3
June 1252.2 447.7 1699.9 616.5 315.0 931.5 799.4 3430.8

July 1264.3 453.7 1718.0 617.4 314.2 931.6 803.5 3453.1


Aug. 1274.1 455.6 1729.7 619.0 314.6 933.5 808.1 3471.3
Sep. 1285.8 455.7 1741.5 622.1 315.6 937.7 813.9 3493.1

Oct. 1289.8 453.4 1743.2 625.5 316.7 942.2 818.7 3504.1


Nov. 1289.1 451.7 1740.9 630.2 318.9 949.0 825.0 3514.9
Dec. 1285.8 448.7 1734.5 634.5 320.6 955.0 838.9 3528.4

2000-Jan. 1288.3 447.3 1735.6 638.5 322.8 961.3 857.7 3554.6


Feb. 1301.8 449.9 1751.7 643.6 323.2 966.8 860.6 3579.1
Mar. 1308.6 452.7 1761.3 648.7 323.9 972.5 874.5 3608.3

Week ending
2000-Feb. 28 1292.0 450.5 1742.5 645.5 323.0 968.6 863.9 3575.0

Mar. 6 1311.9 449.3 1761.2 646.6 323.3 969.9 858.2 3589.3


13 1315.4 450.8 1766.2 648.0 323.3 971.2 871.2 3608.7
20 1312.6 453.9 1766.5 649.3 323.9 973.2 879.8 3619.6
27 1305.5 456.9 1762.3 649.5 324.6 974.1 879.6 3616.1

Apr. 3 1294.2 450.3 1744.5 652.4 322.9 975.3 886.1 3605.9


10 1326.7 448.9 1775.5 656.3 322.3 978.6 891.2 3645.3
17p 1331.2 448.4 1779.6 657.8 322.9 980.7 890.0 3650.3
24p 1328.9 449.1 1778.0 658.9 323.8 982.7 888.4 3649.1

1. Savings deposits include money market deposit accounts.


2. Small-denomination time deposits—including 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.

p preliminary
Components may not add to totals due to rounding.
Page 6
H.6 (508)
Table 6
SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3 AND DEBT
Billions of dollars

Large-denomination time deposits1 Debt components5


Date Institutional RPs3 Eurodollars4 Total
money funds Non-M2 M3
At commercial At thrift Total Federal Non-Federal
banks 2 institutions
1998-Nov. 507.1 537.6 88.0 625.6 293.1 155.0 1580.8 3758.9 12392.4
Dec. 518.4 539.3 88.9 628.1 300.8 152.6 1599.9 3750.8 12480.1

1999-Jan. 523.3 541.4 90.3 631.7 300.6 150.7 1606.4 3742.7 12573.7
Feb. 533.2 537.8 90.0 627.8 315.1 154.1 1630.3 3723.7 12683.3
Mar. 535.9 534.5 89.6 624.1 305.7 158.7 1624.3 3723.9 12799.9

Apr. 544.4 537.1 89.4 626.5 300.9 161.5 1633.4 3718.6 12908.6
May 550.1 537.2 88.6 625.8 305.0 162.3 1643.2 3702.8 12997.4
June 553.9 535.9 88.9 624.8 312.8 164.8 1656.3 3703.6 13074.3

July 556.1 537.6 88.7 626.3 312.7 163.0 1658.1 3708.0 13151.0
Aug. 563.8 533.8 89.5 623.3 313.3 158.0 1658.5 3711.0 13244.9
Sep. 566.9 539.8 89.5 629.3 313.5 155.8 1665.5 3698.1 13361.2

Oct. 577.7 562.4 89.5 651.9 313.4 154.7 1697.7 3680.2 13468.5
Nov. 592.1 587.1 91.0 678.0 321.5 163.4 1755.0 3656.9 13559.6
Dec. 607.4 610.5 91.4 701.9 334.7 173.1 1817.1 3659.5 13655.4

2000-Jan. 623.5 614.8 94.4 709.2 329.0 175.8 1837.5 3646.2 13755.0
Feb. 617.5 617.8 95.1 712.9 342.0 171.2 1843.6 3609.4 p 13858.4 p
Mar. 640.7 620.8 95.3 716.1 337.7 180.5 1874.9

Week ending
2000-Feb. 28 619.1 619.5 95.2 714.6 339.5 172.4 1845.6

Mar. 6 631.4 618.9 95.0 713.9 344.5 182.4 1872.2


13 645.2 621.9 95.2 717.1 347.6 185.8 1895.6
20 639.6 619.6 95.4 715.0 330.7 178.5 1863.9
27 643.1 619.3 95.3 714.5 336.2 178.7 1872.5

Apr. 3 644.7 627.3 95.3 722.6 324.7 174.7 1866.6


10 639.2 633.8 95.1 728.9 331.4 173.1 1872.6
17p 643.2 630.6 95.2 725.8 331.0 170.3 1870.4
24p 637.7 628.9 94.6 723.6 332.7 171.6 1865.6

1. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
2. 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.
3. Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
4. 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.
5. 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
Components may not add to totals due to rounding.
Page 7
H.6 (508)
Table 7
NOT SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars

Other checkable deposits


Date Currency 1 Travelers checks2 Demand deposits3
At commercial banks4 At thrift Total
institutions5
1998-Nov. 457.5 8.4 383.5 144.6 104.2 248.8
Dec. 464.1 8.4 395.9 146.3 106.6 252.8

1999-Jan. 462.4 8.3 379.2 149.3 104.7 254.0


Feb. 466.4 8.3 364.3 142.7 103.5 246.1
Mar. 471.2 8.3 367.2 144.8 105.9 250.7

Apr. 475.7 8.3 372.1 149.0 108.4 257.4


May 479.7 8.3 361.6 141.8 104.9 246.7
June 483.0 8.6 359.4 142.1 105.2 247.3

July 487.7 8.7 360.1 136.7 104.5 241.2


Aug. 490.2 8.6 355.2 135.5 103.9 239.4
Sep. 493.3 8.5 347.0 135.2 103.0 238.2

Oct. 498.4 8.4 350.4 135.0 102.9 237.8


Nov. 505.2 8.3 359.0 137.0 103.4 240.4
Dec. 521.3 8.4 371.9 142.4 104.3 246.7

2000-Jan. 523.0 8.4 350.2 143.7 102.5 246.2


Feb. 517.3 8.3 331.9 137.1 102.7 239.7
Mar. 517.1 8.3 338.5 137.2 107.1 244.3

Week ending
2000-Feb. 28 515.1 8.3 336.8 138.9 102.1 241.0

Mar. 6 517.5 8.3 335.2 136.0 108.2 244.2


13 517.4 8.3 330.9 133.1 106.2 239.2
20 517.2 8.3 338.8 136.3 106.2 242.5
27 516.6 8.3 339.9 139.2 106.3 245.5

Apr. 3 517.2 8.4 359.1 145.3 111.5 256.8


10 519.7 8.4 e 335.8 138.0 112.3 250.3
17p 518.4 8.4 e 346.2 141.5 111.6 253.1
24p 517.8 8.4 e 344.3 147.1 110.2 257.3

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.

e estimated p preliminary
Components may not add to totals due to rounding.
Page 8
H.6 (508)
Table 8
NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars

Savings deposits 1 Small-denomination time deposits2


Retail
money Total
Date Non-M1 M2
At commercial At thrift At commercial At thrift funds
banks institutions Total banks institutions Total

1998-Nov. 1167.7 410.6 1578.4 629.4 327.9 957.3 733.7 3269.4


Dec. 1186.0 414.2 1600.2 626.5 325.8 952.3 748.3 3300.9

1999-Jan. 1196.8 418.5 1615.3 624.1 325.1 949.2 764.6 3329.0


Feb. 1205.9 423.6 1629.5 620.8 323.7 944.5 783.9 3357.9
Mar. 1220.4 431.0 1651.4 618.5 321.2 939.7 792.8 3383.9

Apr. 1244.9 436.4 1681.2 616.4 319.5 935.9 797.6 3414.8


May 1238.8 440.7 1679.4 614.4 316.8 931.2 782.0 3392.6
June 1253.4 448.1 1701.5 613.4 313.4 926.8 788.6 3416.9

July 1265.7 454.2 1719.9 615.6 313.3 928.8 792.1 3440.9


Aug. 1272.5 455.1 1727.6 617.3 313.8 931.1 807.9 3466.6
Sep. 1282.0 454.4 1736.4 621.5 315.3 936.8 812.5 3485.6

Oct. 1285.2 451.7 1737.0 626.5 317.2 943.8 814.7 3495.4


Nov. 1288.8 451.6 1740.3 631.7 319.7 951.4 822.0 3513.7
Dec. 1288.6 449.7 1738.4 635.3 321.0 956.3 837.5 3532.2

2000-Jan. 1286.5 446.7 1733.2 640.1 323.6 963.7 861.5 3558.4


Feb. 1294.4 447.3 1741.7 646.1 324.5 970.6 873.4 3585.7
Mar. 1311.3 453.6 1764.9 650.7 324.9 975.5 891.9 3632.4

Week ending
2000-Feb. 28 1276.1 444.9 1721.0 648.1 324.3 972.4 877.6 3570.9

Mar. 6 1321.0 452.4 1773.4 649.1 324.5 973.6 875.1 3622.1


13 1324.8 454.0 1778.8 650.2 324.4 974.6 888.9 3642.3
20 1314.6 454.6 1769.3 651.2 324.9 976.0 897.0 3642.3
27 1294.2 452.9 1747.1 651.0 325.3 976.3 897.5 3620.9

Apr. 3 1306.7 454.7 1761.4 654.3 323.8 978.1 903.5 3643.0


10 1359.8 460.1 1819.9 658.0 323.1 981.2 915.0 3716.0
17p 1362.4 458.9 1821.4 658.7 323.4 982.0 911.7 3715.1
24p 1335.8 451.5 1787.3 658.9 323.8 982.7 900.7 3670.7

1. Savings deposits include money market deposit accounts.


2. Small-denomination time deposits—including 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.

p preliminary
Components may not add to totals due to rounding.
Page 9
H.6 (508)
Table 9
NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3 AND DEBT
Billions of dollars

Large-denomination time deposits1 RPs3 Debt components5


Date Institutional Total
money funds Eurodollars 4 Non-M2 M3
At commercial At thrift Total At commercial At thrift Total Federal Non-Federal
banks2 institutions banks institutions
1998-Nov. 508.9 540.6 88.5 629.1 250.6 44.3 295.0 154.9 1587.8 3746.6 12378.4
Dec. 527.9 537.8 88.6 626.4 248.6 46.9 295.4 154.5 1604.3 3754.9 12472.9

1999-Jan. 534.8 533.2 89.0 622.2 252.9 48.0 300.9 152.4 1610.2 3736.6 12561.2
Feb. 552.4 533.9 89.4 623.3 265.7 51.0 316.6 155.9 1648.2 3721.8 12650.7
Mar. 544.1 534.6 89.7 624.3 252.9 54.7 307.6 158.4 1634.4 3741.2 12762.3

Apr. 544.2 536.7 89.4 626.1 243.8 56.3 300.1 161.3 1631.7 3717.1 12880.8
May 545.3 541.0 89.2 630.2 250.9 58.1 309.0 163.9 1648.4 3674.2 12977.5
June 547.6 537.1 89.1 626.2 254.0 59.9 313.9 164.7 1652.4 3662.8 13065.1

July 540.5 538.2 88.8 627.0 248.5 62.2 310.8 160.9 1639.2 3652.2 13143.4
Aug. 555.0 532.4 89.3 621.8 249.2 63.6 312.9 156.9 1646.5 3665.8 13231.8
Sep. 553.2 542.1 89.9 632.0 246.8 65.8 312.6 154.3 1652.2 3655.8 13351.8

Oct. 570.9 566.8 90.2 656.9 245.2 65.5 310.7 153.3 1691.9 3635.5 13461.0
Nov. 595.1 590.1 91.4 681.5 259.6 64.6 324.1 163.6 1764.3 3641.7 13551.0
Dec. 618.9 608.6 91.1 699.8 266.5 63.5 330.0 175.2 1823.9 3663.1 13650.1

2000-Jan. 638.2 605.9 93.0 698.9 264.8 64.4 329.2 177.0 1843.3 3639.0 13747.2
Feb. 640.6 613.4 94.4 707.8 281.4 62.5 343.9 172.6 1864.9 3605.4 p 13834.2 p
Mar. 650.5 621.0 95.3 716.3 280.3 60.0 340.3 180.3 1887.4

Week ending
2000-Feb. 28 644.4 615.5 94.5 710.1 279.2 60.2 339.4 175.6 1869.5

Mar. 6 646.4 619.6 95.1 714.7 286.2 59.3 345.5 180.1 1886.7
13 659.3 622.8 95.3 718.1 292.5 59.6 352.0 185.3 1914.7
20 649.0 620.4 95.6 715.9 275.5 59.8 335.3 178.4 1878.6
27 651.9 619.6 95.3 714.9 277.7 60.6 338.4 180.8 1886.0

Apr. 3 641.1 624.1 94.8 719.0 263.3 60.8 324.1 174.9 1859.0
10 645.3 632.7 94.9 727.6 269.7 60.7 330.4 172.7 1876.1
17p 646.9 629.7 95.1 724.8 269.9 58.8 328.8 168.3 1868.8
24p 635.6 628.9 94.6 723.5 270.1 59.9 330.0 172.0 1861.1

1. Large-denomination time deposits are those issued in amounts of $100,000 or more, excluding those booked at international banking facilities.
2. 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.
3. Overnight and term RPs of $100,000 or more issued by depository institutions, excluding those held by depository institutions and by money funds.
4. 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.
5. 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
Components may not add to totals due to rounding.
Page 10
H.6 (508)
Table 10
MEMORANDUM ITEMS
Billions of dollars, not seasonally adjusted
Time and
Demand deposits savings U.S. government deposits IRA and Keogh Accounts
at banks due to deposits
due to Demand Balance Note Time and
Date Foreign Foreign foreign Total savings At At At
banks and deposits at at balances at money
commercial official commercial Federal depository cash deposits at commercial thrift Total
official commercial market
banks institutions banks Reserve institutions1 balance banks institutions funds
institutions banks
1998-Nov. 9.2 1.9 16.5 1.3 5.1 18.7 25.1 4.1 151.5 97.9 115.5 364.8
Dec. 8.9 1.9 17.5 1.7 5.9 24.4 32.0 4.5 151.5 97.4 117.3 366.1

1999-Jan. 8.8 1.8 18.2 2.9 6.6 30.8 40.2 4.6 151.5 97.0 119.2 367.7
Feb. 8.7 1.8 18.6 1.4 4.8 6.9 13.0 4.3 151.6 96.8 121.0 369.3
Mar. 8.7 1.7 19.1 1.5 5.5 12.1 19.1 4.0 151.7 96.5 122.8 371.0

Apr. 8.6 1.6 19.1 4.6 6.4 16.5 27.5 3.9 151.6 96.4 124.3 372.3
May 8.5 1.6 18.6 1.4 5.4 28.4 35.3 4.0 151.3 96.3 125.4 373.1
June 8.3 1.6 18.1 2.6 5.9 24.0 32.5 4.0 151.1 96.3 126.5 373.8

July 8.2 1.6 18.7 1.3 5.2 27.2 33.7 4.1 150.8 96.2 128.8 375.8
Aug. 8.2 1.4 20.7 1.3 5.1 9.2 15.6 4.3 150.7 96.0 132.6 379.3
Sep. 8.2 1.3 22.6 2.5 6.4 29.3 38.2 4.5 150.6 95.8 136.4 382.7

Oct. 8.5 1.3 24.8 1.4 5.2 28.6 35.2 4.7 150.1 95.6 139.6 e 385.3 e
Nov. 9.1 1.4 27.4 1.2 5.1 8.0 14.3 5.0 149.3 95.3 142.3 e 386.9 e
Dec. 9.7 1.4 30.0 1.5 8.3 39.0 48.7 5.3 148.5 95.1 145.0 e 388.6 e

2000-Jan. 10.0 e 1.5 e 30.0 e 2.9 8.1 52.5 63.5 5.2 e 148.3 e 94.9 e 147.3 e 390.5 e
Feb. 10.0 e 1.4 e 27.4 e 1.2 5.3 24.3 30.8 5.0 e 148.5 e 94.9 e 149.3 e 392.8 e
Mar. 10.0 e 1.5 e 24.8 e 1.3 5.3 14.1 20.8 4.7 e 148.7 e 94.9 e 151.3 e 395.0 e

Week ending
2000-Feb. 28 1.2 5.0 30.7 36.8

Mar. 6 1.3 5.3 11.7 18.3


13 1.3 5.2 7.8 14.2
20 1.6 6.0 16.4 24.0
27 1.1 5.1 10.7 16.9

Apr. 3 1.4 4.7 32.9 39.0


10 1.8 5.8 17.4 25.0
17p 4.0 6.2 32.3 42.5
24p 8.8 7.9 42.3 59.0

1. Source: Daily Treasury statement.


e estimated
p preliminary
Components may not add to totals due to rounding.