FEDERAL RESERVE statistical release

H.6 (508)
Table 1

MONEY STOCK MEASURES

For release at 4:30 p.m. Eastern Time

Billions of dollars

October 14, 2004

Date

M1 1

M2 2

M3 3

Seasonally adjusted
2002-Oct.
Nov.
Dec.

1201.8
1204.5
1217.2

5722.7
5767.2
5794.5

8348.3
8479.4
8552.4

2003-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1220.4
1235.1
1240.6
1246.1
1257.7
1271.0
1273.4
1281.5
1281.4
1284.1
1283.4
1293.4

5825.5
5867.3
5891.1
5933.8
5985.1
6026.1
6066.1
6106.6
6083.9
6069.1
6065.8
6062.5

8564.8
8601.9
8633.4
8670.4
8725.2
8774.6
8849.0
8888.6
8879.6
8856.8
8844.4
8845.6

2004-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep. p

1287.5
1307.0
1326.3
1323.5
1322.6
1335.8
1324.1
1341.2
1344.9

6070.1
6120.3
6167.9
6216.9
6289.6
6299.0
6290.9
6298.8
6327.1

8905.3
8977.9
9068.6
9148.1
9249.0
9278.8
9256.0
9277.8
9307.2

Not seasonally adjusted
2002-Oct.
Nov.
Dec.

1194.1
1202.7
1242.6

5710.5
5784.0
5833.1

8303.5
8499.0
8616.8

2003-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep.
Oct.
Nov.
Dec.

1222.0
1221.5
1240.6
1255.8
1253.7
1271.6
1274.3
1279.0
1274.0
1275.9
1280.8
1319.1

5819.9
5845.1
5905.8
5962.8
5953.1
6009.5
6053.4
6111.8
6083.3
6063.6
6087.1
6102.7

8582.9
8615.2
8673.5
8692.0
8700.6
8764.8
8819.6
8871.4
8841.8
8823.0
8868.1
8904.1

2004-Jan.
Feb.
Mar.
Apr.
May
June
July
Aug.
Sep. p

1288.8
1293.4
1324.8
1332.6
1320.3
1336.0
1325.9
1339.2
1336.6

6061.1
6090.6
6169.4
6242.2
6255.9
6283.2
6287.3
6302.8
6330.8

8911.5
8977.5
9093.6
9167.7
9224.5
9269.9
9237.8
9262.0
9278.7

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 MEASURES
Percent change at seasonally adjusted annual rates
M1

M2

M3

3 Months from June 2004 TO Sep. 2004

2.7

1.8

1.2

6 Months from Mar. 2004 TO Sep. 2004

2.8

5.2

5.3

12 Months from Sep. 2003 TO Sep. 2004

5.0

4.0

4.8

Thirteen weeks ending October 4 , 2004
from thirteen weeks ending:
July 5, 2004 (13 weeks previous)

3.0

2.0

1.8

Apr. 5, 2004 (26 weeks previous)

4.6

5.8

6.2

Oct. 6, 2003 (52 weeks previous)

4.5

3.6

4.6

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, small-denomination 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 seasonally 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 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
M2

M1
Period ending
2004-July 12
19
26

M3

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

13-week
average

4-week
average

week
average

1327.4
1328.1
1328.1

1333.8
1328.5
1324.2

1310.0
1316.8
1335.6

6280.8
6287.7
6292.2

6295.9
6295.4
6292.9

6294.8
6293.5
6289.2

9244.9
9254.6
9261.9

9267.8
9262.5
9253.6

9238.8
9259.9
9272.3

Aug.

2
9
16
23
30

1326.4
1328.1
1329.3
1330.7
1333.1

1324.9
1326.9
1331.8
1336.9
1342.1

1337.2
1317.9
1336.5
1356.1
1357.8

6293.5
6294.6
6293.8
6295.1
6295.2

6291.9
6288.4
6290.2
6296.8
6298.4

6290.1
6280.6
6300.9
6315.4
6296.7

9264.5
9265.6
9264.1
9267.5
9270.1

9259.3
9261.6
9261.4
9267.3
9272.0

9266.1
9248.0
9259.2
9295.7
9285.2

Sep.

6
13
20
27p

1334.3
1334.2
1335.1
1335.5

1344.7
1341.2
1339.9
1339.8

1328.4
1322.6
1350.7
1357.4

6296.2
6296.7
6299.9
6303.0

6303.6
6304.9
6310.2
6321.0

6301.3
6306.3
6336.3
6340.2

9271.5
9269.7
9272.4
9274.2

9279.4
9282.5
9287.5
9299.1

9277.3
9271.6
9316.0
9331.6

Oct.

4p

1337.6

1348.1

1361.6

6305.7

6327.8

6328.5

9277.9

9302.6

9291.2

Not seasonally adjusted
2004-July 12
19
26

Note:

1329.0
1327.8
1327.5

1336.6
1330.6
1323.5

1293.3
1314.4
1350.5

6267.1
6268.6
6272.4

6285.9
6287.9
6289.6

6313.4
6283.4
6247.6

9229.0
9233.5
9240.3

9247.6
9241.4
9235.4

9246.5
9234.5
9221.1

Aug.

2
9
16
23
30

1326.6
1328.2
1329.3
1330.9
1333.4

1329.6
1331.8
1334.2
1334.9
1338.7

1360.3
1301.8
1324.1
1353.4
1375.4

6276.7
6281.4
6284.7
6289.4
6290.9

6281.8
6283.0
6294.1
6304.5
6301.0

6282.9
6317.9
6327.8
6289.4
6268.9

9245.4
9249.8
9250.9
9255.1
9256.4

9236.8
9246.1
9256.3
9263.2
9260.9

9245.0
9283.6
9275.3
9249.0
9235.5

Sep.

6
13
20
27p

1334.7
1333.8
1333.8
1333.3

1341.7
1335.5
1331.7
1331.0

1314.0
1299.3
1337.9
1372.9

6294.1
6297.7
6302.7
6306.3

6308.8
6316.7
6329.4
6334.4

6349.2
6359.1
6340.5
6288.6

9257.1
9256.7
9259.2
9259.3

9263.3
9271.7
9282.5
9285.2

9293.3
9309.1
9292.1
9246.4

Oct.

4p

1334.8

1341.4

1355.3

6308.2

6331.7

6338.5

9260.8

9276.6

9258.8

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
Currency1

Date

Travelers checks2

Demand deposits3

2003-May
June

644.6
646.4

7.6
7.6

314.7
321.8

159.7
163.0

At thrift
institutions 5
131.1
132.2

July
Aug.
Sep.

648.0
650.8
654.1

7.6
7.6
7.6

319.1
320.9
313.4

164.4
166.3
169.0

134.5
135.9
137.2

298.8
302.2
306.3

Oct.
Nov.
Dec.

658.3
661.3
663.9

7.7
7.7
7.7

312.2
308.6
312.6

168.9
170.3
173.2

137.1
135.5
136.0

305.9
305.8
309.2

2004-Jan.
Feb.
Mar.

664.9
665.8
666.8

7.8
7.8
7.8

301.8
314.3
327.1

176.4
181.3
185.3

136.6
137.8
139.2

313.0
319.1
324.5

Apr.
May
June

668.7
671.8
676.7

7.8
7.8
7.7

323.8
318.9
322.7

183.8
183.5
187.4

139.3
140.6
141.3

323.2
324.1
328.8

July
Aug.
Sep. p

684.8
687.7
691.6

7.6
7.6
7.6

306.4
318.7
324.1

184.5
188.9
184.9

140.9
138.5
136.7

325.4
327.4
321.6

9
16
23
30

686.1
687.1
688.4
688.9

7.5
7.6
7.6
7.6

300.3
314.4
331.1
331.8

184.2
189.0
191.6
193.3

139.8
138.4
137.4
136.2

324.0
327.4
329.0
329.4

Sep.

6
13
20
27p

691.0
691.3
691.2
692.0

7.6
7.6
7.6
7.6

309.8
307.5
333.0
331.9

183.0
182.0
184.5
187.9

137.0
134.2
134.4
138.0

320.0
316.2
318.9
325.9

Oct.

4p

692.5

7.6

331.7

186.6

143.4

329.9

At commercial banks4

Week ending
2004-Aug.

1.
2.
3.
4.
5.

Total
290.8
295.2

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits.
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.
NOW and ATS balances at domestically chartered commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
NOW and ATS balances at thrift institutions, credit union share draft balances, and demand deposits at thrift institutions.

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
Small-denomination time deposits2

Savings deposits1
Date

3.

At thrift
institutions

Total

At commercial
banks

At thrift
institutions

Total

Retail
money
funds3

Total
Non-M1 M2

2003-May
June

2189.9
2221.7

794.0
800.0

2983.9
3021.6

570.1
565.9

291.1
287.9

861.2
853.8

882.4
879.7

4727.5
4755.1

July
Aug.
Sep.

2269.6
2302.5
2291.3

812.6
826.2
834.3

3082.3
3128.7
3125.6

557.6
550.7
545.5

285.0
281.7
279.4

842.7
832.4
824.8

867.8
864.0
852.1

4792.7
4825.1
4802.5

Oct.
Nov.
Dec.

2301.2
2321.8
2328.0

840.0
834.4
830.4

3141.2
3156.2
3158.4

541.8
538.2
536.4

277.0
274.7
272.8

818.9
812.9
809.1

824.9
813.3
801.5

4785.0
4782.4
4769.1

2004-Jan.
Feb.
Mar.

2363.2
2397.3
2424.9

826.8
837.0
853.7

3190.0
3234.3
3278.6

534.7
533.3
531.2

271.9
271.4
271.1

806.6
804.6
802.3

786.1
774.4
760.7

4782.7
4813.3
4841.6

Apr.
May
June

2477.1
2530.5
2527.9

863.5
880.5
886.9

3340.6
3411.0
3414.8

528.8
526.7
525.6

269.0
264.8
262.7

797.9
791.6
788.2

754.9
764.5
760.1

4893.4
4967.0
4963.1

July
Aug.
Sep. p

2540.9
2536.4
2556.9

890.6
891.4
898.7

3431.5
3427.8
3455.7

526.8
529.3
532.2

262.6
263.0
263.0

789.4
792.3
795.2

745.9
737.5
731.4

4966.8
4957.5
4982.3

9
16
23
30

2547.0
2545.9
2532.9
2513.4

886.2
891.2
893.8
895.7

3433.2
3437.1
3426.7
3409.1

528.3
528.8
529.9
530.2

263.0
262.9
262.9
263.2

791.3
791.7
792.8
793.4

738.1
735.6
739.9
736.5

4962.7
4964.4
4959.4
4938.9

Sep.

6
13
20
27p

2552.9
2562.6
2559.7
2548.8

893.4
893.4
899.3
906.9

3446.3
3456.0
3459.1
3455.7

531.8
532.1
532.7
532.5

262.9
262.8
262.9
263.0

794.7
794.9
795.6
795.5

731.8
732.8
730.9
731.7

4972.9
4983.7
4985.6
4982.9

Oct.

4p

2558.0

885.0

3443.0

532.2

263.4

795.6

728.3

4966.9

Week ending
2004-Aug.

1.
2.

At commercial
banks

Savings deposits include money market deposit accounts.
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.
IRA and Keogh account balances at money market mutual funds are subtracted from retail money funds.

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
Billions of dollars
Large-denomination time deposits1
Date

3.
4.

At commercial
banks2

At thrift
institutions

Total

RPs3

Eurodollars4

Total
Non-M2 M3

2003-May
June

1153.9
1155.0

696.4
695.3

117.3
118.5

813.6
813.7

511.3
517.2

261.3
262.5

2740.1
2748.5

July
Aug.
Sep.

1193.8
1174.7
1175.6

699.6
707.6
715.4

121.5
123.0
122.5

821.1
830.6
837.9

498.2
497.6
502.1

269.8
279.1
280.1

2782.8
2782.0
2795.7

Oct.
Nov.
Dec.

1154.1
1131.7
1113.2

713.3
726.0
747.7

122.1
121.2
120.2

835.5
847.2
867.9

511.4
513.3
513.4

286.8
286.4
288.7

2787.8
2778.6
2783.1

2004-Jan.
Feb.
Mar.

1116.4
1104.0
1112.7

780.6
783.8
804.1

121.0
121.6
124.0

901.6
905.4
928.1

515.1
536.3
539.3

302.1
311.9
320.5

2835.2
2857.6
2900.7

Apr.
May
June

1121.6
1119.6
1112.9

829.1
844.7
856.5

127.8
131.8
131.7

956.9
976.5
988.2

523.0
535.5
556.4

329.7
327.7
322.4

2931.3
2959.4
2979.8

July
Aug.
Sep. p

1096.2
1098.9
1088.0

870.1
870.2
870.1

135.6
141.0
144.7

1005.7
1011.2
1014.8

538.4
543.7
551.0

324.8
325.2
326.3

2965.0
2979.0
2980.0

9
16
23
30

1101.2
1090.0
1094.8
1085.6

862.2
863.4
869.7
884.0

138.7
139.8
142.5
143.9

1000.9
1003.3
1012.2
1027.9

537.5
542.4
548.5
550.0

327.8
322.6
324.9
325.0

2967.4
2958.3
2980.3
2988.6

Sep.

6
13
20
27p

1084.7
1089.1
1084.1
1083.9

880.7
860.1
868.1
873.8

144.7
144.4
145.0
144.9

1025.4
1004.5
1013.1
1018.7

538.8
543.6
555.3
564.6

327.1
328.0
327.2
324.1

2976.0
2965.2
2979.7
2991.4

Oct.

4p

1075.6

869.1

144.2

1013.3

550.9

322.9

2962.7

Week ending
2004-Aug.

1.
2.

Institutional
money funds

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 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.
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.
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
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
Currency1

Date

Travelers checks2

Demand deposits3
At commercial banks4

4.
5.

Total

2003-May
June

646.5
647.7

7.5
7.7

310.3
321.1

157.5
161.8

July
Aug.
Sep.

648.7
650.4
650.8

7.8
7.8
7.7

320.2
321.0
311.9

162.7
163.1
166.7

134.9
136.7
136.9

297.6
299.8
303.7

Oct.
Nov.
Dec.

655.7
660.2
667.0

7.6
7.6
7.6

309.9
310.4
328.4

167.0
166.6
179.8

135.6
135.9
136.2

302.6
302.6
316.1

2004-Jan.
Feb.
Mar.

662.7
665.9
667.6

7.7
7.8
7.8

302.3
306.0
323.3

183.2
179.7
186.7

132.9
133.9
139.5

316.0
313.6
326.2

Apr.
May
June

670.3
674.0
678.3

7.7
7.7
7.8

323.5
316.2
321.5

187.4
180.5
186.2

143.6
141.9
142.2

331.1
322.4
328.5

July
Aug.
Sep. p

686.0
686.3
688.1

7.8
7.7
7.6

308.0
319.5
321.5

182.8
185.4
183.1

141.4
140.3
136.3

324.1
325.7
319.4

9
16
23
30

687.8
686.7
685.8
684.9

7.8
7.8
7.7
7.7

284.9
310.1
333.6
349.8

179.6
180.7
187.5
194.0

141.7
138.8
138.7
139.0

321.3
319.5
326.2
333.0

Sep.

6
13
20
27p

690.1
688.2
687.4
687.0

7.7
7.6
7.6
7.6

297.3
293.2
326.0
352.0

180.4
176.6
182.6
189.1

138.6
133.6
134.2
137.2

319.0
310.2
316.9
326.3

Oct.

4p

689.5

7.6

330.9

186.1

141.3

327.4

Week ending
2004-Aug.

1.
2.
3.

At thrift
institutions 5
131.9
133.3

289.4
295.1

Currency outside U.S. Treasury, Federal Reserve Banks and the vaults of depository institutions.
Outstanding amount of U.S. dollar-denominated travelers checks of nonbank issuers. Travelers checks issued by depository institutions are included in demand deposits.
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.
NOW and ATS balances at domestically chartered commercial banks, U.S. branches and agencies of foreign banks, and Edge Act corporations.
NOW and ATS balances at thrift institutions, credit union share draft balances, and demand deposits at thrift institutions.

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
Small-denomination time deposits2

Savings deposits1
Date

At commercial
banks
2177.7
2217.7

2003-May
June

3.

Total

At commercial
banks

At thrift
institutions

Total

Total
Non-M1 M2

789.6
798.5

2967.2
3016.3

570.0
565.7

291.0
287.8

861.0
853.5

871.1
868.1

4699.4
4737.9

July
Aug.
Sep.

2264.5
2308.4
2298.9

810.8
828.3
837.0

3075.2
3136.7
3135.9

557.4
550.6
545.4

284.9
281.7
279.3

842.3
832.3
824.7

861.5
863.8
848.6

4779.1
4832.8
4809.3

Oct.
Nov.
Dec.

2303.5
2338.9
2337.5

840.9
840.6
833.8

3144.4
3179.5
3171.4

541.9
538.6
536.5

277.1
275.0
272.8

819.0
813.5
809.3

824.3
813.3
802.9

4787.7
4806.3
4783.6

2004-Jan.
Feb.
Mar.

2353.1
2381.0
2419.5

823.2
831.3
851.8

3176.3
3212.2
3271.2

534.8
533.1
531.0

271.9
271.3
271.0

806.7
804.4
802.0

789.3
780.5
771.4

4772.3
4797.2
4844.6

Apr.
May
June

2485.2
2514.5
2523.0

866.3
874.9
885.2

3351.5
3389.5
3408.1

528.8
526.9
525.8

269.0
264.9
262.8

797.8
791.9
788.6

760.3
754.4
750.5

4909.6
4935.7
4947.3

July
Aug.
Sep. p

2540.3
2540.0
2567.4

890.4
892.7
902.4

3430.7
3432.7
3469.8

526.8
529.1
532.0

262.6
262.9
262.8

789.4
792.0
794.8

741.3
738.9
729.5

4961.4
4963.6
4994.1

9
16
23
30

2585.5
2573.3
2513.8
2480.0

899.6
900.8
887.1
883.8

3485.2
3474.1
3400.9
3363.8

528.2
528.7
529.7
530.0

262.9
262.9
262.8
263.0

791.1
791.6
792.5
793.0

739.8
738.0
742.7
736.6

5016.1
5003.7
4936.1
4893.4

Sep.

6
13
20
27p

2600.4
2618.5
2573.4
2502.7

910.1
912.9
904.2
890.5

3510.5
3531.3
3477.6
3393.2

531.7
532.0
532.4
532.0

262.9
262.8
262.7
262.8

794.6
794.8
795.0
794.8

730.1
733.7
730.0
727.6

5035.2
5059.8
5002.7
4915.7

Oct.

4p

2575.1

890.9

3466.1

532.1

263.4

795.5

721.6

4983.2

Week ending
2004-Aug.

1.
2.

At thrift
institutions

Retail
money
funds3

Savings deposits include money market deposit accounts.
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.
IRA and Keogh account balances at money market mutual funds are subtracted from retail money funds.

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
Billions of dollars
Large-denomination time deposits1
Institutional
money funds

Date

3.
4.

At thrift
institutions
118.4
119.3

Total

At commercial
banks
475.9
480.1

2003-May
June

1136.4
1146.6

July
Aug.
Sep.

1179.7
1161.0
1154.1

700.4
706.7
715.9

121.6
122.8
122.6

822.0
829.5
838.5

445.0
437.7
435.5

Oct.
Nov.
Dec.

1139.6
1141.9
1139.7

713.7
724.7
745.7

122.2
121.0
119.8

835.9
845.7
865.5

2004-Jan.
Feb.
Mar.

1143.0
1127.9
1123.5

773.3
780.5
804.2

119.9
121.1
124.0

Apr.
May
June

1106.7
1101.2
1104.1

828.8
852.8
861.5

July
Aug.
Sep. p

1084.8
1087.8
1071.6

9
16
23
30

Sep.

Oct.

Week ending
2004-Aug.

1.
2.

At commercial
banks2
703.0
699.8

RPs3
At thrift
institutions
49.1
49.4

Total

Eurodollars4

Total
Non-M2 M3

525.0
529.5

264.6
260.2

2747.5
2755.3

53.9
56.3
53.7

498.9
494.0
489.2

265.6
275.2
276.7

2766.2
2759.6
2758.5

438.6
447.4
439.1

60.2
58.4
67.8

498.8
505.9
507.0

285.2
287.6
289.2

2759.5
2781.0
2801.4

893.2
901.5
928.2

441.6
475.1
483.1

69.7
67.4
65.3

511.3
542.5
548.5

302.9
315.1
324.0

2850.4
2887.0
2924.2

127.7
133.1
132.5

956.5
985.9
993.9

463.1
483.1
500.5

66.1
67.5
68.9

529.2
550.6
569.4

333.0
330.8
319.3

2925.5
2968.6
2986.7

871.0
869.7
871.5

135.8
141.0
145.0

1006.7
1010.6
1016.5

479.5
481.3
478.1

59.1
57.8
58.8

538.6
539.1
536.9

320.3
321.7
323.0

2950.5
2959.3
2947.9

1091.3
1087.1
1094.5
1081.0

870.1
863.2
864.2
878.0

140.0
139.8
141.6
142.9

1010.1
1003.0
1005.8
1020.8

485.1
484.0
479.2
479.7

56.7
56.6
58.0
59.7

541.8
540.6
537.2
539.4

322.5
316.9
322.1
325.4

2965.7
2947.6
2959.6
2966.6

6
13
20
27p

1069.4
1084.1
1072.7
1069.5

880.8
864.5
868.0
872.8

144.8
145.2
145.0
144.7

1025.6
1009.6
1013.0
1017.6

467.9
475.4
484.4
487.2

58.4
57.1
58.3
60.4

526.2
532.5
542.7
547.6

322.8
323.8
323.3
323.1

2944.1
2950.0
2951.6
2957.8

4p

1049.0

875.2

145.3

1020.5

469.4

60.8

530.3

320.5

2920.2

821.4
819.0

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 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.
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.
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
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
Demand deposits
at banks due to

U.S. government deposits
Demand
deposits at
commercial
banks
1.3
2.4

Balance
at
Federal
Reserve
6.7
6.7

Note
balances at
depository
institutions1
6.0
12.4

IRA and Keogh Accounts
Time and
savings
deposits at
commercial
banks
23.5
26.6

167.5
167.8

101.5
101.9

At
money
market
funds
178.7
176.4

24.1
18.3
12.5

167.8
167.7
167.6

102.2
102.4
102.5

174.9
174.0
173.0

445.0
444.0
443.1

18.5
16.8
23.9

8.2
5.9
3.7

167.3
166.8
166.3

102.5
102.3
102.0

170.8
167.0
163.1

440.6
436.1
431.5

24.3
15.8
14.3

31.9
22.6
21.3

2.4
2.2
2.0

166.1
166.2
166.3

101.6
101.7
101.8

160.2
158.4
156.7

427.9
426.4
424.8

6.0
5.4
5.7

16.3
13.4
20.9

25.1
20.3
28.5

1.9
2.0
2.1

166.8
167.5
168.3

101.9
101.9
101.9

155.0 e
153.5 e
152.0 e

423.6 e
422.9 e
422.2 e

1.4
1.4
1.7

5.0
4.8
5.6

10.1
3.1
16.7

16.4
9.2
23.9

2.1 e
2.1 e
2.1 e

168.9 e
169.2 e
169.5 e

101.9 e
102.1 e
102.3 e

151.2 e
151.2 e
151.2 e

422.0 e
422.4 e
422.9 e

9
16
23
30

1.2
1.5
1.3
1.3

5.1
4.5
4.9
5.2

1.4
1.0
1.5
1.4

7.8
7.1
7.8
7.9

Sep.

6
13
20
27p

1.3
1.6
2.5
1.4

4.9
4.7
7.1
5.5

1.4
1.8
22.1
33.1

7.5
8.0
31.7
40.0

Oct.

4p

1.4

5.1

21.1

27.6

Date

Foreign
commercial
banks

Foreign
official
institutions

Total
cash
balance

2003-May
June

7.5
7.8

1.1
1.2

July
Aug.
Sep.

7.5
7.1
6.7

1.2
1.2
1.3

17.7
19.0
20.2

1.4
1.5
1.8

6.2
5.6
6.2

13.5
6.4
18.2

21.1
13.5
26.2

Oct.
Nov.
Dec.

6.6
7.2
7.7

1.1
1.0
1.0

20.0
17.9
15.7

1.5
1.6
1.7

4.9
5.1
5.3

12.1
10.1
16.9

2004-Jan.
Feb.
Mar.

7.9
7.6
7.3

1.0
1.1
1.1

13.6
13.7
13.8

2.0
1.6
1.6

5.6
5.3
5.4

Apr.
May
June

7.2
7.3
7.4

1.2
1.2
1.1

14.4
15.6
16.8

2.7
1.6
1.8

July
Aug.
Sep. p

7.4 e
7.4 e
7.4 e

1.1 e
1.1 e
1.1 e

17.4 e
17.4 e
17.4 e

Week ending
2004-Aug.

1.

Time and
savings
deposits
due to
foreign
banks and
official
institutions
18.0
17.5

Source: Daily Treasury statement.

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

13.9
21.6

At
commercial
banks

At
thrift
institutions

Total
447.7
446.2