1

FEDERAL RESERVE STATISTICAL RELEASE
H.6 (508)
Table 1
4:30 p.m.

These data are scheduled for release each Thursday at

May 6,
2004
MONEY STOCK MEASURES
Billions of dollars
--------------------------------------------------------------------------------------Date
M11
M22
M33
--------------------------------------------------------------------------------------Seasonally adjusted
--------------------------------------------------------------------------------------2002-Apr.
1177.5
5527.6
8119.3
May
1182.0
5558.6
8155.4
June
1186.3
5580.6
8166.6
July
1192.6
5623.0
8208.5
Aug.
1181.1
5658.3
8271.6
Sep.
1188.7
5684.9
8308.0
Oct.
1200.0
5730.7
8335.9
Nov.
1202.6
5777.2
8467.5
Dec.
1215.0
5805.8
8540.6

8550.6
8587.8
8619.4
8655.9
8711.3
8761.5
8837.9
8876.2

2003-Jan.

1218.4

5838.2

Feb.

1232.9

5881.0

Mar.

1238.2

5906.4

Apr.

1243.4

5949.7

May

1255.5

5998.5

June

1268.7

6035.7

July

1273.3

6079.5

Aug.

1282.3

6118.2

8865.4
8836.4
8823.9

Sep.

1282.4

6096.4

Oct.

1284.7

6080.4

Nov.

1283.8

6076.2

Dec.

1293.0

6071.0

2004-Jan.

1287.1

6076.3

Feb.

1312.0

6129.2

8819.5

8873.0
8939.5

Mar.
1331.4
6174.0
9009.0
--------------------------------------------------------------------------------------Not seasonally adjusted
--------------------------------------------------------------------------------------2002-Apr.
1187.9
5559.5
8144.2
May
1177.5
5528.3
8131.0
June
1186.5
5566.3
8154.9
July
1193.4
5609.2
8174.5
Aug.
1176.6
5653.5
8243.0
Sep.
1181.3
5679.3
8261.4
Oct.
1192.4
5718.5
8291.3
Nov.
1200.8
5794.0
8486.9
Dec.
1240.3
5844.2
8604.5

8568.5
8600.9
8659.6
8677.8
8686.7
8751.7
8808.7
8859.2

2003-Jan.

1220.0

5832.6

Feb.

1219.4

5859.0

Mar.

1238.2

5921.4

Apr.

1253.1

5978.8

May

1251.6

5966.4

June

1269.3

6019.0

July

1274.2

6066.7

Aug.

1279.8

6123.3

Sep.

1275.1

6095.8

8827.9
8802.9
8847.5
8877.7

8878.9
8938.4

Oct.

1276.5

6074.9

Nov.

1281.1

6097.4

Dec.

1318.7

6111.2

2004-Jan.

1288.4

6067.3

Feb.

1298.3

6099.4

Mar.
1329.9
6175.5
9033.2
-------------------------------------------------------------------------------------Footnotes appear on the following page
p -- indicates preliminary data

1

H.6 (508)
Table 2
MONEY STOCK MEASURES
Percent change at seasonally adjusted annual rates
-------------------------------------------------------------------------------------------------------M1
M2
M3
-------------------------------------------------------------------------------------------------------3 Months from Dec. 2003 TO Mar. 2004
11.9
6.8
8.6
6 Months from Sep. 2003 TO Mar. 2004
7.6
2.5
3.2
12 Months from Mar. 2003 TO Mar. 2004
7.5
4.5
4.5
Thirteen weeks ending
April 26 , 2004
from thirteen weeks ending:

Jan. 26, 2004 (13 weeks previous)
10.0
6.1
7.4
Oct. 27, 2003 (26 weeks previous)
5.8
2.2
3.2
Apr. 28, 2003 (52 weeks previous)
6.7
4.3
4.4
--------------------------------------------------------------------------------------------------------

Footnotes to Table 1:
1. M1 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 commercial
banks (excluding those amounts held by 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 constructed by summing
currency, travelers checks, demand deposits, and
OCDs, each seasonally adjusted separately.
2. M2 consists of M1 plus (1) savings deposits (including money market deposit
accounts); (2) small-denomination time deposits (time
deposits in amounts of less than $100,000), less individual retirement account
(IRA) and Keogh balances at depository
institutions; and (3) balances in retail money market mutual funds, less IRA
and Keogh balances at money market mutual funds.
Seasonally adjusted M2 is constructed by summing savings deposits, smalldenomination time deposits, and retail money funds,
each seasonally adjusted separately, and adding this result to seasonally
adjusted M1.
3. M3 consists of M2 plus (1) balances in institutional money market mutual
funds; (2) large-denomination time deposits (time deposits
in amounts of $100,000 or more); (3) repurchase agreement (RP) liabilities of
depository institutions, in denominations of $100,000
or more, on U.S. government and federal agency securities; and (4) Eurodollars
held by U.S. addressees at foreign branches of U.S.
banks worldwide and at all banking offices in the United Kingdom and Canada.
Large-denomination time deposits, RPs, and
Eurodollars exclude those amounts held by depository institutions, the U.S.
government, foreign banks and official institutions,
and money market mutual funds. Seasonally adjusted M3 is constructed by
summing institutional money funds, large-denomination
time deposits, RPs, and Eurodollars, each adjusted separately, and adding this
result to seasonally adjusted M2.
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 Publication 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.
1

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

------------------------------------------------------------------M1
M2
M3
--------------------------------------------------------------------------------------------------------------------------------------------------Period Ending 13-week average 4-week average week average 13-week average 4week average week average 13-week average 4-week average week average
--------------------------------------------------------------------------------------------------------------------------------------------------Seasonally adjusted
--------------------------------------------------------------------------------------------------------------------------------------------------2004-Feb. 2
1288.0
1287.0
1293.8
6075.0
6081.3
6094.4
8839.1
8879.9
8891.6
9
1288.6
1291.9
1291.2
6076.7
6089.7
6099.5
8845.0
8892.1
8904.2
16
1291.3
1298.6
1316.2
6080.7
6102.9
6131.3
8854.4
8910.1
8942.7
23
1294.2
1306.3
1324.0
6085.9
6117.6
6145.0
8864.9
8924.4
8959.1
Mar.
6132.1

6152.5
8
6142.9
15
6162.0
22
6183.0
29
6195.7

6142.9
6150.6
6160.1
6170.9
Apr.
6184.2
6196.8
6202.9
6212.4

1

5
6196.1
12
6212.4
19p
6207.5
26p
6233.7

1297.5
8877.3
1298.8
8888.4
1301.0
8903.3
1304.7
8917.8
1308.8
8935.6

1313.8
8944.2
1316.8
8958.6
1317.8
8973.5
1322.5
8986.9
1329.7
9008.1

1323.8
8970.8
1303.2
8961.7
1320.0
9002.3
1342.8
9012.8
1352.6
9055.4

6092.4

1311.3
8951.9
1314.8
8967.8
1316.6
8982.7
1320.1
8998.8

1335.3
9029.1
1334.5
9044.1
1326.8
9057.1
1323.4
9070.8

1325.7
9045.9
1316.9
9062.1
1312.1
9064.9
1338.8
9110.3

6133.3

6097.7
6105.0
6113.3
6123.0

6144.6
6154.5
6165.8

--------------------------------------------------------------------------------------------------------------------------------------------------Not seasonally adjusted
--------------------------------------------------------------------------------------------------------------------------------------------------2004-Feb. 2
1295.8
1284.8
1308.4
6091.3
6055.3
6043.4
8869.7
8876.6
8865.3
9
1297.1
1287.6
1269.0
6090.0
6053.8
6085.4
8875.4
8882.2
8920.4
16
1299.7
1291.4
1294.9
6089.4

6064.7

6113.3
23
6092.4

6083.6

6103.4

Mar.

6122.5
6139.7
6160.7
6173.5

6196.8
6220.1
6242.8
6250.0

Apr.

1

6122.6
8
6161.8
15
6181.9
22
6176.6
29
6173.5
5

6255.0
12
6275.3
19p
6267.5
26p
6202.0

8882.4
1301.4
8890.7

8899.9
1294.7
8920.7

8960.1
1306.4
8936.8

1302.0
8898.6
1303.2
8908.0
1304.4
8919.3
1305.0
8931.0
1305.3
8945.6

1298.6
8943.4
1302.8
8963.4
1305.5
8985.5
1314.0
9009.2
1326.7
9033.4

1324.2
8956.2
1285.8
9000.4
1305.4
9048.7
1340.4
9031.3
1375.2
9053.3

6092.8

1305.7
8962.5
1309.6
8979.9
1313.8
8996.8
1318.8
9013.0

1338.8
9057.9
1339.3
9077.0
1337.9
9096.4
1333.6
9099.2

1334.1
9098.2
1307.5
9125.1
1334.7
9108.8
1358.1
9064.8

6121.8

6091.5

6096.2
6100.8
6106.0
6112.1

6136.0
6151.2
6165.4

--------------------------------------------------------------------------------------------------------------------------------------------------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 -- indicates preliminary data.
1

H.6 (508)
Table 4
SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars
----------------------------------------------------------------------------------------------------------------------------------------Other Checkable Deposits
-----------------------------------------------------Date
Currency1
Travelers checks2
Demand Deposits3
At comm. banks4
At thrift inst.5
Total
----------------------------------------------------------------------------------------------------------------------------------------2002-Nov.
623.8
7.8
294.7
152.3
124.1
276.4
Dec.
627.4
7.8
301.2

153.2

125.4

2003-Jan.
153.8
Feb.
156.0
Mar.
157.7

156.5
159.7
163.1

164.7
166.7
169.5

169.4
170.8
173.7

126.1
127.6
128.3

Apr.

129.9

May

131.5

June

132.2

July

134.4

Aug.

135.9

Sep.

137.3

Oct.

137.2

Nov.

135.6

Dec.

136.1

2004-Jan.
176.6
Feb.
181.3
Mar.
185.2

136.7
138.0
139.4

278.6

630.9
635.4
639.1

642.0
644.6
646.4

648.0
650.8
654.2

658.3
661.3
663.9

664.8
665.7
666.6

279.9
283.6
286.0

286.4
291.1
295.3

299.2
302.6
306.7

306.6
306.4
309.8

313.3
319.2
324.7

7.8

299.9

7.8

306.1

7.7

305.4

7.7

307.4

7.6

312.2

7.6

319.4

7.6

318.6

7.6

321.3

7.6

313.9

7.7

312.1

7.7

308.4

7.7

311.6

7.8

301.2

7.8

319.2

7.8

332.3

7.9

328.9

7.8

307.9

7.8

323.6

7.8

343.0

Week Ending:
2004-Mar.
181.8
181.8
185.4

1
8
15
22

139.3
139.7
137.0

666.0
665.9
666.2
667.0

321.1
321.6
322.4

186.5

138.5
29

187.1

181.2

Apr.

5
12

181.7

19p

180.9

26p

186.7

325.0
667.4

141.0

667.1

142.1

668.6

139.2

667.9

138.8

668.9

138.4

328.1

323.4
320.9
319.7
325.1

7.8

349.3

7.8

327.4

7.8 e

319.6

7.8 e

316.7

7.8 e

337.0

----------------------------------------------------------------------------------------------------------------------------------------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 domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations
(excluding those amounts held by 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. NOW and ATS balances at domestically chartered commercial banks, U.S. branches
and agencies of foreign banks, and Edge Act corporations.
5. NOW and ATS balances at thrift institutions, credit union share draft
balances, and demand deposits at thrift institutions.
e -- indicates estimated data.

p -- indicates preliminary data.

1

H.6 (508)
Table 5
SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars
-----------------------------------------------------------------------------------------------------------------------------------------Savings Deposits1
Smalldenomination time deposit2
-------------------------------------------------------------------------------Retail
Date
At thrift
insts.

Total

At comm.
money
banks
funds3

At thrift
Total
insts.
Non-M1 M2

Total

At comm.
banks

-----------------------------------------------------------------------------------------------------------------------------------------2002-Nov.
2041.3
701.4
2742.7
595.5
303.3
898.8
933.1
4574.6
Dec.
2053.2
716.2
2769.5
591.3
302.3
893.6
927.7
4590.8

2003-Jan.
300.7
Feb.
298.1
Mar.
296.4

888.1
881.9
876.6

Apr.
294.5
291.5

870.6

May

862.7

June

288.3

854.3
July

285.4
282.1

843.1

Aug.

832.8

Sep.

279.7

825.1
Oct.

277.3
274.7

818.9

Nov.

812.7

Dec.

272.5

808.7

2004-Jan.
271.0
Feb.
270.2
Mar.
269.6

805.5
803.1
800.2

2085.5
917.4
2110.3
912.0
2126.8
905.6

728.8
4619.8
744.0
4648.1
759.2
4668.2

2814.3

587.4

2854.3

583.8

2886.0

580.2

2162.0
900.7
2189.9
896.5
2221.6
891.2

773.0
4706.4
793.9
4743.0
799.9
4767.1

2935.0

576.1

2983.8

571.2

3021.5

566.0

2269.6
880.9
2302.5
874.3
2291.4
863.2

812.6
4806.2
826.2
4835.8
834.2
4814.0

3082.2

557.7

3128.7

550.8

3125.6

545.4

2301.2
835.5
2321.9
823.1
2328.2
810.3

840.1
4795.8
834.7
4792.4
830.9
4778.0

3141.3

541.6

3156.6

537.9

3159.1

536.2

2363.2
793.1
2396.4
779.7
2423.5
764.3

827.5
4789.2
838.0
4817.2
854.6
4842.6

3190.6

534.5

3234.4

532.9

3278.1

530.6

2408.9

843.6

3252.5

531.6

Week ending:
2004-Mar.

1

270.0

801.7
8

269.7

15

269.8

22

269.4

29

269.5

269.6
269.2
269.1
267.3

Apr.

5
12

801.1
800.6
799.9
799.5

798.4

797.4
19p
796.4
26p
794.9

774.5
2429.0
765.3
2426.3
762.9
2417.5
765.1
2415.0
764.7

4828.7
844.3
4839.7
852.3
4842.0
857.7
4840.2
863.9
4843.0

2459.1
757.1
2482.4
754.9
2480.6
757.8
2471.1
762.1

855.7
4870.4
860.7
4895.4
860.6
4895.4
866.8
4894.9

3273.3

531.3

3278.6

530.9

3275.2

530.5

3278.9

530.0

3314.9

528.8

3343.1

528.2

3341.2

527.3

3337.8

527.6

-----------------------------------------------------------------------------------------------------------------------------------------1. Savings deposits include money market deposit accounts.
2. Small-denomination time deposits are those issued in amounts of less than
$100,000. All IRA and Keogh account balances at commercial
banks and thrift institutions are subtracted from small time deposits.
3. IRA and Keogh account balances at money market mutual funds are subtracted
from retail money funds.
p -- indicates preliminary data.
1

H.6 (508)
Table 6
SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3
Billions of dollars
---------------------------------------------------------------------------------------------------------------------------------------Large-denomination time deposits1
Institutional
-------------------------------------------Date
money
At commercial
At thrift
Total
funds
banks2
institutions
Total
RPs3
Eurodollars4
Non-M2 M3
----------------------------------------------------------------------------------------------------------------------------------------2002-Nov.
1202.4
700.8
116.4
817.1
445.0
225.8
2690.3

Dec.
793.8

480.9

2003-Jan.
800.5
Feb.
796.2
Mar.
800.1

472.6
485.4
497.4

Apr.
800.5
805.7

501.6

May

511.3

June

807.3

517.2
July

815.3
824.4

497.0

Aug.

494.4

Sep.

832.4

496.8
Oct.

827.9
836.4

504.3

Nov.

511.3

Dec.

858.9

505.3

2004-Jan.
899.5
Feb.
907.5
Mar.
927.3

502.1
521.0
521.3

1231.8
228.3

676.6
2734.8

117.2

1205.3
234.0
1189.5
235.7
1175.5
239.9

682.0
2712.4
677.9
2706.7
682.7
2712.9

118.5

1157.2
246.8
1137.7
258.2
1141.5
259.7

682.9
2706.2
688.8
2712.8
689.2
2725.7

117.6

1178.5
267.6
1162.2
277.0
1162.4
277.4

694.2
2758.4
701.8
2758.1
710.2
2769.0

121.1

1140.8
282.9
1117.9
282.2
1098.8
285.4

706.2
2756.0
715.6
2747.8
739.1
2748.5

121.7

1101.7
293.4
1089.6
292.2
1098.1
288.3

778.9
2796.7
786.3
2810.4
803.4
2835.0

120.6

1097.8
288.7
1097.0
294.2
1099.0

790.3
2818.3
796.9
2818.8
804.6

122.8

118.2
117.3

116.9
118.1

122.6
122.2

120.8
119.9

121.2
123.9

Week ending:
2004-Mar.
913.1
919.7

1
8
15

518.7
507.9

122.8
123.9

928.5

522.8
22

925.3

528.2

290.0
1093.2
283.1

2840.3
800.9
2829.8

1109.4
285.4

809.1
2859.7

124.3

531.5

1106.7
290.9
1108.5
293.9
1104.2
294.7
1110.3
297.1

822.8
2849.7
828.5
2849.8
828.5
2857.4
833.8
2876.6

125.3

29
933.4
Apr.
948.1
955.1
956.8
963.6

5
12
19p
26p

504.1
492.3
501.7
505.6

124.4

126.6
128.3
129.8

----------------------------------------------------------------------------------------------------------------------------------------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 domestically chartered commercial banks,
U.S. branches and agencies of foreign banks, and Edge Act
corporations, excluding those amounts held by depository institutions, the
U.S. government, foreign banks and official institutions, and
money market mutual funds.
3. RP liabilities of depository institutions, in denominations of $100,000 or
more, on U.S. government and federal agency securities, excluding
those amounts held by depository institutions, the U.S. government, foreign
banks and official institutions, and money market mutual funds.
4. Eurodollars held by U.S. addressees at foreign branches of U.S. banks
worldwide and at all banking offices in the United Kingdom and Canada,
excluding those amounts held by depository institutions, the U.S. government,
foreign banks and official institutions, and money market
mutual funds.
p -- indicates preliminary data
e -- indicates estimated data
1

H.6 (508)
Table 7
NOT SEASONALLY ADJUSTED COMPONENTS OF M1
Billions of dollars
----------------------------------------------------------------------------------------------------------------------------------------Other Checkable Deposits
-----------------------------------------------------Date
Currency1
Travelers checks2

Demand Deposits3

At comm. banks4
At thrift inst.5
Total
----------------------------------------------------------------------------------------------------------------------------------------2002-Nov.
623.1
7.6
296.6
149.4
124.0
273.5
Dec.
630.5
7.7
317.5
158.4
126.2
284.6

2003-Jan.
159.8
Feb.
154.7
Mar.
158.7

160.5
157.5
161.9

163.0
163.5
167.1

167.6
167.1
180.3

123.2
124.2
128.9

Apr.

133.9

May

132.2

June

133.4

July

134.9

Aug.

136.7

Sep.

137.0

Oct.

135.7

Nov.

136.1

Dec.

136.3

2004-Jan.
183.4
Feb.
179.7
Mar.
186.5

133.0
134.1
139.7

628.9
635.2
639.9

643.4
646.5
647.7

648.7
650.4
650.9

655.7
660.2
667.0

662.7
665.9
667.4

283.0
278.9
287.6

294.4
289.7
295.2

297.9
300.2
304.1

303.3
303.2
316.6

316.3
313.8
326.3

7.7

300.5

7.7

297.6

7.7

303.0

7.5

307.7

7.5

307.8

7.7

318.6

7.8

319.7

7.8

321.4

7.7

312.4

7.6

309.9

7.6

310.2

7.6

327.4

7.7

301.7

7.8

310.8

7.8

328.4

7.8

329.2

Week Ending:
2004-Mar.

1

665.3

184.3

137.6
8

180.1

15

181.5

22

187.8

29

194.6

186.4
180.6
187.1
192.3

Apr.

5
12
19p
26p

139.0
136.4
138.6
142.2

146.2
142.2
143.8
143.5

321.9
667.8
667.1
667.7
667.3

669.9
671.4
669.2
669.0

319.1
317.9
326.4
336.7

332.6
322.8
330.9
335.8

7.8

291.1

7.8

312.5

7.8

338.5

7.7

363.4

7.7

323.9

7.7 e

305.6

7.7 e

326.9

7.7 e

345.7

----------------------------------------------------------------------------------------------------------------------------------------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 domestically chartered commercial banks, U.S. branches and
agencies of foreign banks, and Edge Act corporations
(excluding those amounts held by 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. NOW and ATS balances at domestically chartered commercial banks, U.S. branches
and agencies of foreign banks, and Edge Act corporations.
5. NOW and ATS balances at thrift institutions, credit union share draft
balances, and demand deposits at thrift institutions.
e -- indicates estimated data.

p -- indicates preliminary data.

1

H.6 (508)
Table 8
NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M1 M2
Billions of dollars
-----------------------------------------------------------------------------------------------------------------------------------------Savings Deposits1
Smalldenomination time deposit2
-----------------------------------------

---------------------------------------Date
At thrift

Retail

At comm.
At thrift
Total
At comm.
money
Total
banks
insts.
banks
insts.
funds3
Non-M1 M2
-----------------------------------------------------------------------------------------------------------------------------------------2002-Nov.
2055.1
706.2
2761.3
596.4
303.8
900.2
931.6
4593.2
Dec.
2060.9
718.9
2779.8
591.7
302.5
894.2
930.0
4603.9

2003-Jan.
300.8
Feb.
298.1
Mar.
296.2

Total

888.5
881.9
876.0

Apr.
294.3
291.4

May
June

288.2

870.1
862.6
854.1

July
285.3
282.0

Aug.
Sep.

279.7

842.8
832.7
825.0

Oct.
277.3
275.0

Nov.
Dec.

272.5

2004-Jan.
271.0
Feb.
270.2
Mar.
269.5

819.1
813.3
808.8

805.6
802.9
799.9

2075.8
923.0
2097.4
920.9
2127.2
920.6

725.3
4612.6
739.4
4639.6
759.3
4683.2

2801.1

587.7

2836.8

583.8

2886.5

579.8

2171.3
908.0
2177.7
885.1
2217.7
879.5

776.3
4725.7
789.5
4714.8
798.5
4749.7

2947.6

575.8

2967.1

571.1

3016.2

565.9

2264.5
874.6
2308.4
874.2
2299.0
859.7

810.7
4792.5
828.3
4843.5
837.0
4820.7

3075.2

557.5

3136.7

550.7

3136.0

545.4

2303.5
834.9
2339.0
823.0
2337.7
811.7

840.9
4798.4
840.9
4816.3
834.3
4792.5

3144.5

541.7

3179.9

538.4

3172.0

536.3

2353.0
796.3
2380.1
785.8
2418.1
775.1

823.9
4778.9
832.2
4801.1
852.7
4845.7

3177.0

534.5

3212.3

532.7

3270.7

530.4

Week ending:
2004-Mar.
270.0

8

269.7

15

269.7

22

269.3

29

269.3

269.6
269.3
269.0
267.2

1

Apr.

5
12

801.5
800.8
800.4
799.6
798.9

798.5

797.7
19p
796.3
26p
794.5

2380.9
782.2
2448.8
775.2
2444.0
773.8
2405.8
777.2
2374.4
775.7

833.8
4798.4
851.2
4876.0
858.5
4876.6
853.5
4836.2
849.4
4798.3

3214.7

531.5

3300.0

531.2

3302.4

530.7

3259.3

530.3

3223.7

529.6

2489.9
766.0
2526.9
767.2
2501.9
766.6
2432.9
763.2

866.4
4920.8
876.1
4967.8
868.0
4932.8
853.3
4843.9

3356.4

528.9

3402.9

528.4

3369.9

527.3

3286.2

527.3

-----------------------------------------------------------------------------------------------------------------------------------------1. Savings deposits include money market deposit accounts.
2. Small-denomination time deposits are those issued in amounts of less than
$100,000. All IRA and Keogh account balances at commercial
banks and thrift institutions are subtracted from small time deposits.
3. IRA and Keogh account balances at money market mutual funds are subtracted
from retail money funds.
p -- indicates preliminary data.
1

H.6 (508)
Table 9
NOT SEASONALLY ADJUSTED COMPONENTS OF NON-M2 M3
Billions of dollars
--------------------------------------------------------------------------------------------------------------------------------------------------------Large-denomination time deposits1
RPs3
Institutional
---------------------------------------------------------------------------------Date
money
At commercial
At thrift

At commercial

At thrift
Total
funds
banks2
institutions
Total
banks2
institutions
Total
Eurodollars4
Non-M2 M3
--------------------------------------------------------------------------------------------------------------------------------------------------------2002-Nov.
1213.5
698.9
116.0
814.9
385.5
53.2
438.7
225.8
2692.9
Dec.
1263.0
675.4
117.0
792.4
423.8
52.6
476.4
228.5
2760.3

2003-Jan.
420.5

49.4

1236.8
469.9

676.7
234.9

117.5
2735.9

794.2

1217.2
492.2

675.7
238.9

117.9
2741.9

793.6

50.7
47.5

1188.6
505.5

683.1
243.5

117.4
2738.1

800.5

49.4

1142.4
505.4

683.3
250.3

117.7
2699.0

801.0

695.4
261.5
693.7
257.4

118.0
2720.3
118.8
2732.7

813.4

49.4

1120.4
525.0
1133.2
529.5
1164.7
497.7

695.0
263.4

121.2
2741.9

816.2

53.6

1148.7
490.8
1141.1
484.0

700.9
273.1
710.8
274.0

122.4
2735.9
122.3
2732.2

823.3

706.6
281.4
714.3
283.3
737.1
285.9

121.8
2728.0
120.6
2750.1
119.5
2766.5

828.3

67.5

1126.5
491.8
1128.0
503.9
1125.0
499.0

65.9

1128.0
498.3

771.6
294.2

119.5
2811.6

891.1

1113.1
527.1

782.9
295.2

120.7
2839.0

903.6

63.1

803.5

123.9

927.4

Feb.
441.5
458.0

455.9

Mar.

Apr.
May

475.9

June

480.1

49.1

July
444.1
435.5
431.9

433.6
441.2
431.6

Aug.
Sep.

Oct.
Nov.
Dec.

2004-Jan.
432.4

55.4
52.2

58.2
62.7

Feb.
464.0
Mar.

1108.7

812.6

833.1

834.9
856.6

469.8

60.4

530.2

291.4

2857.7

1112.1
522.9
1109.5
517.4
1114.0
532.0
1104.7
538.9
1111.4
540.3

783.4
293.4
795.0
294.2
804.6
292.3
800.2
286.6
811.8
291.5

121.7
2833.6
122.5
2838.6
123.9
2866.8
124.3
2854.7
124.8
2879.8

905.1

1089.9
506.0
1104.0
496.1

827.4
294.0
828.3
294.8

126.0
2843.3
126.6
2849.8

953.4

1085.6
506.0
1086.6
514.9

825.3
296.7
830.4
301.6

127.8
2841.3
129.3
2862.8

953.0

Week ending:
2004-Mar.
461.0

8

456.3

15

471.5

22

479.8

29

479.8

445.6
435.6

1

Apr.

5
12

61.9
61.1
60.5
59.1
60.5

60.3
60.5

19p
445.6
455.0

26p

60.4
59.9

917.5
928.5
924.5
936.6

954.9

959.7

--------------------------------------------------------------------------------------------------------------------------------------------------------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 domestically chartered commercial banks,
U.S. branches and agencies of foreign banks, and Edge Act corporations,
excluding those amounts held by depository institutions, the U.S. government,
foreign banks and official institutions, and money market mutual funds.
3. RP liabilities of depository institutions, in denominations of $100,000 or
more, on U.S. government and federal agency securities, excluding those
amounts held by depository institutions, the U.S. government, foreign banks
and official institutions, and money market mutual funds.
4. Eurodollars held by U.S. addressees at foreign branches of U.S. banks
worldwide and at all banking offices in the United Kingdom and Canada,
excluding those amounts held by depository institutions, the U.S. government,
foreign banks and official institutions, and by money market mutual funds.
p -- indicates preliminary data
e -- indicates estimated data
1

H.6 (508)
Table 10
MEMORANDUM ITEMS
Billions of dollars, not seasonally adjusted
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------U.S.
IRA and Keogh

government deposits
Accounts

Demand deposits
Time and
--------------------------------------------------------------------------------------------------------------at banks due to
savings
Time and
Date
--------------------------- deposits due to
Demand
Balance
Note
savings
Foreign
Foreign
foreign banks deposits at
at
balances at
Total
deposits at
commercial
official
and official
commercial
Federal
depository
cash
commercial
At commercial
At thrift
At money
banks
institutions institutions
banks
Reserve
institutions1
balance
banks
banks
institutions market funds
Total
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------2002-Nov.
7.9
1.1
14.8
3.2
5.0
16.1
24.3
23.1
166.3
97.8
175.9
440.0
Dec.
8.7
1.1
15.5
3.8
4.9
15.3
24.0
25.9
165.8
97.4
176.5
439.8

2003-Jan.
5.8
13.2
441.5
Feb.
5.1
5.7
445.7
Mar.
5.3
4.1
450.1

7.5
451.2

Apr.

8.6
22.8

1.1
26.2

16.4
165.8

97.6

7.9
14.3

1.1
23.0

17.3
166.3

98.7

7.3
13.1

1.1
19.8

18.2
166.8

99.9

4.2

7.2
17.1

1.1
20.4

18.4
167.2

101.0

6.0

7.5
16.2

1.1
23.5

18.0
167.5

101.5

7.8

1.2

17.5

May

6.7
449.7
June

3.8
178.1
3.6

180.7

3.6
183.3

5.3

183.0

3.6
180.7
4.8

6.7
448.2

12.4

24.0

26.6

167.8

101.9

13.5

7.5
23.4

1.2
24.1

17.7
167.8

102.2

6.4

7.1
15.9

1.2
18.3

19.0
167.7

102.4

18.2

6.7
28.6

1.3
12.5

20.2
167.6

102.5

6.6
20.9

1.1
8.2

20.0
167.3

102.5

7.2
19.3

1.0
5.9

17.9
166.8

102.3

7.7
26.7

1.0
3.7

15.8
166.3

102.1

8.0 e
34.8

0.9 e
2.4 e

14.6 e
166.1 e

4.9
102.0 e

167.8

8.0 e
25.4

0.9 e
2.4 e

14.6 e
166.4 e

4.4
102.2 e

167.8

8.0 e
23.8

0.9 e
2.4 e

14.6 e
166.7 e

4.1
102.4 e

167.8

July
6.2
446.9
5.6
445.9

Aug.
Sep.

6.2
444.9

4.9
e
5.1
e
5.3
e

Oct.

12.1
443.1 e
Nov.
10.1
440.2 e
Dec.
16.9
437.3 e

2004-Jan.
5.6
24.3
e
435.9 e
Feb.
5.3
15.8
e
436.4 e
Mar.
5.4
14.3
e
436.8 e

2004-Mar. 1
5.7
11.6

21.9

5.6

8
6.2

15.6

5.3

15
6.7

16.3

5.8

22
28.0

37.7

5.1

29
17.6

26.9

178.4

3.7
176.9
3.8

175.9

4.2
174.9

3.9

173.4

4.1
171.2
4.5

4.7
3.9
4.3
3.9
4.3

169.0

5.3

Apr.

5
4.1

13.6

4.2

5.2

12
4.6

14.2

6.2

19p
15.2

27.3

7.3

26p
26.1

40.6

4.4
5.9
7.2

-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------1. Source: Daily Treasury statement.
e -- indicates estimated data
p -- indicates preliminary data